id	sid	tid	token	lemma	pos
cjal-3260	1	1	national	national	ADJ
cjal-3260	1	2	markets	market	NOUN
cjal-3260	1	3	and	and	CCONJ
cjal-3260	1	4	new	new	ADJ
cjal-3260	1	5	defenses	defense	NOUN
cjal-3260	1	6	:	:	PUNCT
cjal-3260	1	7	the	the	DET
cjal-3260	1	8	case	case	NOUN
cjal-3260	1	9	for	for	ADP
cjal-3260	1	10	an	an	DET
cjal-3260	1	11	east	east	ADJ
cjal-3260	1	12	asian	asian	ADJ
cjal-3260	1	13	opt	opt	VERB
cjal-3260	1	14	-	-	PUNCT
cjal-3260	1	15	in	in	ADP
cjal-3260	1	16	takeover	takeover	NOUN
cjal-3260	1	17	law	law	NOUN
cjal-3260	1	18	national	national	ADJ
cjal-3260	1	19	markets	market	NOUN
cjal-3260	1	20	and	and	CCONJ
cjal-3260	1	21	new	new	ADJ
cjal-3260	1	22	defenses	defense	NOUN
cjal-3260	1	23	:	:	PUNCT
cjal-3260	1	24	the	the	DET
cjal-3260	1	25	case	case	NOUN
cjal-3260	1	26	for	for	ADP
cjal-3260	1	27	an	an	DET
cjal-3260	1	28	east	east	ADJ
cjal-3260	1	29	asian	asian	ADJ
cjal-3260	1	30	opt	opt	VERB
cjal-3260	1	31	-	-	PUNCT
cjal-3260	1	32	in	in	ADP
cjal-3260	1	33	takeover	takeover	NOUN
cjal-3260	1	34	law	law	NOUN
cjal-3260	1	35	bliss	bliss	PROPN
cjal-3260	1	36	burdett	burdett	PROPN
cjal-3260	1	37	pak	pak	PROPN
cjal-3260	1	38	*	*	PROPN
cjal-3260	1	39	i.	i.	PROPN
cjal-3260	1	40	in	in	ADP
cjal-3260	1	41	tr	tr	NOUN
cjal-3260	1	42	o	o	PROPN
cjal-3260	1	43	d	d	X
cjal-3260	1	44	u	u	X
cjal-3260	1	45	c	c	NOUN
cjal-3260	1	46	tio	tio	NOUN
cjal-3260	1	47	n	n	PROPN
cjal-3260	1	48	...............................................................	...............................................................	SYM
cjal-3260	1	49	385	385	NUM
cjal-3260	1	50	h.	h.	NOUN
cjal-3260	1	51	the	the	DET
cjal-3260	1	52	social	social	ADJ
cjal-3260	1	53	value	value	NOUN
cjal-3260	1	54	of	of	ADP
cjal-3260	1	55	takeovers	takeover	NOUN
cjal-3260	1	56	and	and	CCONJ
cjal-3260	1	57	the	the	DET
cjal-3260	1	58	new	new	ADJ
cjal-3260	1	59	demand	demand	NOUN
cjal-3260	1	60	for	for	ADP
cjal-3260	1	61	defenses	defense	NOUN
cjal-3260	1	62	...............................................	...............................................	PUNCT
cjal-3260	1	63	387	387	NUM
cjal-3260	1	64	iii	iii	NOUN
cjal-3260	1	65	.	.	PUNCT
cjal-3260	1	66	precedent	precedent	NOUN
cjal-3260	1	67	:	:	PUNCT
cjal-3260	1	68	anti	anti	ADJ
cjal-3260	1	69	-	-	ADJ
cjal-3260	1	70	takeover	takeover	ADJ
cjal-3260	1	71	defense	defense	NOUN
cjal-3260	1	72	from	from	ADP
cjal-3260	1	73	e	e	PROPN
cjal-3260	1	74	l	l	X
cjal-3260	1	75	se	se	PROPN
cjal-3260	1	76	w	w	PROPN
cjal-3260	1	77	h	h	PROPN
cjal-3260	1	78	er	er	INTJ
cjal-3260	1	79	e	e	X
cjal-3260	1	80	.....................................................................	.....................................................................	PUNCT
cjal-3260	1	81	396	396	NUM
cjal-3260	1	82	a.	a.	NOUN
cjal-3260	1	83	the	the	DET
cjal-3260	1	84	united	united	PROPN
cjal-3260	1	85	states	states	PROPN
cjal-3260	1	86	:	:	PUNCT
cjal-3260	1	87	pills	pill	NOUN
cjal-3260	1	88	,	,	PUNCT
cjal-3260	1	89	polls	poll	NOUN
cjal-3260	1	90	,	,	PUNCT
cjal-3260	1	91	professors	professor	NOUN
cjal-3260	1	92	,	,	PUNCT
cjal-3260	1	93	delaware	delaware	PROPN
cjal-3260	1	94	and	and	CCONJ
cjal-3260	1	95	the	the	DET
cjal-3260	1	96	mythic	mythic	ADJ
cjal-3260	1	97	shareholder	shareholder	NOUN
cjal-3260	1	98	......................................	......................................	PUNCT
cjal-3260	1	99	397	397	NUM
cjal-3260	1	100	b.	b.	NOUN
cjal-3260	1	101	staggered	staggered	ADJ
cjal-3260	1	102	boards	board	NOUN
cjal-3260	1	103	........................................................	........................................................	PUNCT
cjal-3260	2	1	397	397	NUM
cjal-3260	2	2	c	c	NOUN
cjal-3260	2	3	.	.	PUNCT
cjal-3260	3	1	po	po	PROPN
cjal-3260	3	2	ison	ison	NOUN
cjal-3260	3	3	pills	pill	NOUN
cjal-3260	3	4	...................................................................	...................................................................	PUNCT
cjal-3260	4	1	399	399	NUM
cjal-3260	4	2	d.	d.	NOUN
cjal-3260	4	3	from	from	ADP
cjal-3260	4	4	japan	japan	PROPN
cjal-3260	4	5	:	:	PUNCT
cjal-3260	4	6	experimental	experimental	ADJ
cjal-3260	4	7	transplant	transplant	NOUN
cjal-3260	4	8	procedure	procedure	NOUN
cjal-3260	4	9	..	..	PUNCT
cjal-3260	5	1	403	403	NUM
cjal-3260	5	2	e.	e.	PROPN
cjal-3260	5	3	the	the	DET
cjal-3260	5	4	u.k	u.k	PROPN
cjal-3260	5	5	.	.	PROPN
cjal-3260	5	6	:	:	PUNCT
cjal-3260	6	1	isles	isle	NOUN
cjal-3260	6	2	of	of	ADP
cjal-3260	6	3	passivity	passivity	NOUN
cjal-3260	6	4	..........................................	..........................................	PUNCT
cjal-3260	6	5	406	406	NUM
cjal-3260	6	6	f.	f.	NOUN
cjal-3260	6	7	the	the	DET
cjal-3260	6	8	european	european	PROPN
cjal-3260	6	9	union	union	PROPN
cjal-3260	6	10	:	:	PUNCT
cjal-3260	6	11	the	the	DET
cjal-3260	6	12	optional	optional	ADJ
cjal-3260	6	13	rules	rule	NOUN
cjal-3260	6	14	of	of	ADP
cjal-3260	6	15	the	the	DET
cjal-3260	6	16	thirteenth	thirteenth	ADJ
cjal-3260	6	17	directive	directive	NOUN
cjal-3260	6	18	on	on	ADP
cjal-3260	6	19	takeover	takeover	NOUN
cjal-3260	6	20	bids	bid	NOUN
cjal-3260	6	21	....................	....................	PUNCT
cjal-3260	6	22	407	407	NUM
cjal-3260	6	23	iv	iv	NOUN
cjal-3260	6	24	.	.	PUNCT
cjal-3260	7	1	an	an	DET
cjal-3260	7	2	opt	opt	VERB
cjal-3260	7	3	-	-	PUNCT
cjal-3260	7	4	in	in	ADP
cjal-3260	7	5	proposal	proposal	NOUN
cjal-3260	7	6	for	for	ADP
cjal-3260	7	7	enhanced	enhanced	ADJ
cjal-3260	7	8	takeover	takeover	NOUN
cjal-3260	7	9	pr	pr	NOUN
cjal-3260	7	10	o	o	NOUN
cjal-3260	7	11	te	te	ADP
cjal-3260	7	12	c	c	X
cjal-3260	7	13	tio	tio	NOUN
cjal-3260	7	14	n	n	PROPN
cjal-3260	7	15	s	s	NOUN
cjal-3260	7	16	..................................................................	..................................................................	PUNCT
cjal-3260	7	17	410	410	NUM
cjal-3260	7	18	v.	v.	ADP
cjal-3260	7	19	conclusion	conclusion	NOUN
cjal-3260	7	20	and	and	CCONJ
cjal-3260	7	21	research	research	NOUN
cjal-3260	7	22	agenda	agenda	NOUN
cjal-3260	7	23	...................	...................	PUNCT
cjal-3260	7	24	412	412	NUM
cjal-3260	7	25	i.	i.	NOUN
cjal-3260	7	26	introduction	introduction	NOUN
cjal-3260	7	27	the	the	DET
cjal-3260	7	28	arrival	arrival	NOUN
cjal-3260	7	29	of	of	ADP
cjal-3260	7	30	anglo	anglo	ADJ
cjal-3260	7	31	-	-	PUNCT
cjal-3260	7	32	saxon	saxon	NOUN
cjal-3260	7	33	source	source	NOUN
cjal-3260	7	34	capital	capital	NOUN
cjal-3260	7	35	to	to	ADP
cjal-3260	7	36	east	east	PROPN
cjal-3260	7	37	asia	asia	PROPN
cjal-3260	7	38	has	have	AUX
cjal-3260	7	39	brought	bring	VERB
cjal-3260	7	40	with	with	ADP
cjal-3260	7	41	it	it	PRON
cjal-3260	7	42	the	the	DET
cjal-3260	7	43	debate	debate	NOUN
cjal-3260	7	44	over	over	ADP
cjal-3260	7	45	corporate	corporate	ADJ
cjal-3260	7	46	takeover	takeover	NOUN
cjal-3260	7	47	defenses	defense	NOUN
cjal-3260	7	48	and	and	CCONJ
cjal-3260	7	49	the	the	DET
cjal-3260	7	50	appropriate	appropriate	ADJ
cjal-3260	7	51	allocation	allocation	NOUN
cjal-3260	7	52	of	of	ADP
cjal-3260	7	53	power	power	NOUN
cjal-3260	7	54	among	among	ADP
cjal-3260	7	55	shareholders	shareholder	NOUN
cjal-3260	7	56	and	and	CCONJ
cjal-3260	7	57	directors	director	NOUN
cjal-3260	7	58	of	of	ADP
cjal-3260	7	59	public	public	ADJ
cjal-3260	7	60	companies	company	NOUN
cjal-3260	7	61	.	.	PUNCT
cjal-3260	8	1	takeover	takeover	NOUN
cjal-3260	8	2	defenses	defense	NOUN
cjal-3260	8	3	such	such	ADJ
cjal-3260	8	4	as	as	ADP
cjal-3260	8	5	poison	poison	NOUN
cjal-3260	8	6	pills	pill	NOUN
cjal-3260	8	7	,	,	PUNCT
cjal-3260	8	8	staggered	staggered	ADJ
cjal-3260	8	9	boards	board	NOUN
cjal-3260	8	10	and	and	CCONJ
cjal-3260	8	11	judicial	judicial	ADJ
cjal-3260	8	12	permission	permission	NOUN
cjal-3260	8	13	to	to	PART
cjal-3260	8	14	"	"	PUNCT
cjal-3260	8	15	just	just	ADV
cjal-3260	8	16	say	say	VERB
cjal-3260	8	17	no	no	INTJ
cjal-3260	8	18	"	"	PUNCT
cjal-3260	8	19	to	to	ADP
cjal-3260	8	20	an	an	DET
cjal-3260	8	21	unsolicited	unsolicited	ADJ
cjal-3260	8	22	takeover	takeover	NOUN
cjal-3260	8	23	visiting	visit	VERB
cjal-3260	8	24	professor	professor	NOUN
cjal-3260	8	25	of	of	ADP
cjal-3260	8	26	law	law	NOUN
cjal-3260	8	27	,	,	PUNCT
cjal-3260	8	28	ewha	ewha	VERB
cjal-3260	8	29	womans	woman	NOUN
cjal-3260	8	30	[	[	X
cjal-3260	8	31	sic	sic	ADJ
cjal-3260	8	32	]	]	X
cjal-3260	8	33	university	university	NOUN
cjal-3260	8	34	graduate	graduate	NOUN
cjal-3260	8	35	school	school	NOUN
cjal-3260	8	36	of	of	ADP
cjal-3260	8	37	international	international	ADJ
cjal-3260	8	38	studies	study	NOUN
cjal-3260	8	39	,	,	PUNCT
cjal-3260	8	40	seoul	seoul	PROPN
cjal-3260	8	41	,	,	PUNCT
cjal-3260	8	42	south	south	PROPN
cjal-3260	8	43	korea	korea	PROPN
cjal-3260	8	44	;	;	PUNCT
cjal-3260	8	45	co	co	NOUN
cjal-3260	8	46	-	-	NOUN
cjal-3260	8	47	director	director	NOUN
cjal-3260	8	48	,	,	PUNCT
cjal-3260	8	49	american	american	ADJ
cjal-3260	8	50	center	center	NOUN
cjal-3260	8	51	for	for	ADP
cjal-3260	8	52	legal	legal	ADJ
cjal-3260	8	53	studies	study	NOUN
cjal-3260	8	54	,	,	PUNCT
cjal-3260	8	55	seoul	seoul	PROPN
cjal-3260	8	56	,	,	PUNCT
cjal-3260	8	57	south	south	PROPN
cjal-3260	8	58	korea	korea	PROPN
cjal-3260	8	59	.	.	PUNCT
cjal-3260	9	1	an	an	DET
cjal-3260	9	2	earlier	early	ADJ
cjal-3260	9	3	version	version	NOUN
cjal-3260	9	4	of	of	ADP
cjal-3260	9	5	this	this	DET
cjal-3260	9	6	paper	paper	NOUN
cjal-3260	9	7	was	be	AUX
cjal-3260	9	8	presented	present	VERB
cjal-3260	9	9	at	at	ADP
cjal-3260	9	10	a	a	DET
cjal-3260	9	11	conference	conference	NOUN
cjal-3260	9	12	of	of	ADP
cjal-3260	9	13	the	the	DET
cjal-3260	9	14	asia	asia	PROPN
cjal-3260	9	15	europe	europe	PROPN
cjal-3260	9	16	perspective	perspective	PROPN
cjal-3260	9	17	association	association	PROPN
cjal-3260	9	18	,	,	PUNCT
cjal-3260	9	19	june	june	PROPN
cjal-3260	9	20	2	2	NUM
cjal-3260	9	21	,	,	PUNCT
cjal-3260	9	22	2006	2006	NUM
cjal-3260	9	23	,	,	PUNCT
cjal-3260	9	24	in	in	ADP
cjal-3260	9	25	seoul	seoul	PROPN
cjal-3260	9	26	,	,	PUNCT
cjal-3260	9	27	south	south	PROPN
cjal-3260	9	28	korea	korea	PROPN
cjal-3260	9	29	.	.	PUNCT
cjal-3260	10	1	the	the	DET
cjal-3260	10	2	author	author	NOUN
cjal-3260	10	3	wishes	wish	VERB
cjal-3260	10	4	to	to	PART
cjal-3260	10	5	thank	thank	VERB
cjal-3260	10	6	the	the	DET
cjal-3260	10	7	participants	participant	NOUN
cjal-3260	10	8	of	of	ADP
cjal-3260	10	9	the	the	DET
cjal-3260	10	10	aepa	aepa	NOUN
cjal-3260	10	11	conference	conference	NOUN
cjal-3260	10	12	for	for	ADP
cjal-3260	10	13	their	their	PRON
cjal-3260	10	14	comments	comment	NOUN
cjal-3260	10	15	and	and	CCONJ
cjal-3260	10	16	insights	insight	NOUN
cjal-3260	10	17	into	into	ADP
cjal-3260	10	18	the	the	DET
cjal-3260	10	19	problems	problem	NOUN
cjal-3260	10	20	discussed	discuss	VERB
cjal-3260	10	21	herein	herein	NOUN
cjal-3260	10	22	;	;	PUNCT
cjal-3260	10	23	of	of	ADP
cjal-3260	10	24	those	those	DET
cjal-3260	10	25	participants	participant	NOUN
cjal-3260	10	26	,	,	PUNCT
cjal-3260	10	27	professors	professor	NOUN
cjal-3260	10	28	yoo	yoo	PROPN
cjal-3260	10	29	im	im	PROPN
cjal-3260	10	30	-	-	PROPN
cjal-3260	10	31	soo	soo	PROPN
cjal-3260	10	32	and	and	CCONJ
cjal-3260	10	33	eugene	eugene	PROPN
cjal-3260	10	34	yun	yun	PROPN
cjal-3260	10	35	deserve	deserve	VERB
cjal-3260	10	36	special	special	ADJ
cjal-3260	10	37	recognition	recognition	NOUN
cjal-3260	10	38	.	.	PUNCT
cjal-3260	11	1	columbia	columbia	PROPN
cjal-3260	11	2	journal	journal	PROPN
cjal-3260	11	3	of	of	ADP
cjal-3260	11	4	asian	asian	ADJ
cjal-3260	11	5	law	law	NOUN
cjal-3260	11	6	bid	bid	NOUN
cjal-3260	11	7	all	all	PRON
cjal-3260	11	8	are	be	AUX
cjal-3260	11	9	the	the	DET
cjal-3260	11	10	focus	focus	NOUN
cjal-3260	11	11	of	of	ADP
cjal-3260	11	12	intense	intense	ADJ
cjal-3260	11	13	discussion	discussion	NOUN
cjal-3260	11	14	among	among	ADP
cjal-3260	11	15	companies	company	NOUN
cjal-3260	11	16	that	that	SCONJ
cjal-3260	11	17	,	,	PUNCT
cjal-3260	11	18	due	due	ADP
cjal-3260	11	19	to	to	ADP
cjal-3260	11	20	prior	prior	ADJ
cjal-3260	11	21	state	state	NOUN
cjal-3260	11	22	or	or	CCONJ
cjal-3260	11	23	family	family	NOUN
cjal-3260	11	24	control	control	NOUN
cjal-3260	11	25	,	,	PUNCT
cjal-3260	11	26	had	have	AUX
cjal-3260	11	27	previously	previously	ADV
cjal-3260	11	28	been	be	AUX
cjal-3260	11	29	immune	immune	ADJ
cjal-3260	11	30	to	to	ADP
cjal-3260	11	31	takeover	takeover	NOUN
cjal-3260	11	32	attempts	attempt	NOUN
cjal-3260	11	33	.	.	PUNCT
cjal-3260	12	1	complicating	complicate	VERB
cjal-3260	12	2	the	the	DET
cjal-3260	12	3	debate	debate	NOUN
cjal-3260	12	4	is	be	AUX
cjal-3260	12	5	the	the	DET
cjal-3260	12	6	history	history	NOUN
cjal-3260	12	7	of	of	ADP
cjal-3260	12	8	crossand	crossand	PROPN
cjal-3260	12	9	circularshareholdings	circularshareholding	NOUN
cjal-3260	12	10	,	,	PUNCT
cjal-3260	12	11	which	which	PRON
cjal-3260	12	12	has	have	AUX
cjal-3260	12	13	worked	work	VERB
cjal-3260	12	14	in	in	ADP
cjal-3260	12	15	east	east	PROPN
cjal-3260	12	16	asia	asia	PROPN
cjal-3260	12	17	to	to	PART
cjal-3260	12	18	concentrate	concentrate	VERB
cjal-3260	12	19	control	control	NOUN
cjal-3260	12	20	of	of	ADP
cjal-3260	12	21	a	a	DET
cjal-3260	12	22	vast	vast	ADJ
cjal-3260	12	23	proportion	proportion	NOUN
cjal-3260	12	24	of	of	ADP
cjal-3260	12	25	national	national	ADJ
cjal-3260	12	26	resources	resource	NOUN
cjal-3260	12	27	in	in	ADP
cjal-3260	12	28	a	a	DET
cjal-3260	12	29	few	few	ADJ
cjal-3260	12	30	corporate	corporate	ADJ
cjal-3260	12	31	conglomerates	conglomerate	NOUN
cjal-3260	12	32	.	.	PUNCT
cjal-3260	13	1	additionally	additionally	ADV
cjal-3260	13	2	complicating	complicate	VERB
cjal-3260	13	3	and	and	CCONJ
cjal-3260	13	4	coloring	color	VERB
cjal-3260	13	5	the	the	DET
cjal-3260	13	6	policy	policy	NOUN
cjal-3260	13	7	debate	debate	NOUN
cjal-3260	13	8	is	be	AUX
cjal-3260	13	9	the	the	DET
cjal-3260	13	10	impact	impact	NOUN
cjal-3260	13	11	of	of	ADP
cjal-3260	13	12	foreign	foreign	ADJ
cjal-3260	13	13	investors	investor	NOUN
cjal-3260	13	14	in	in	ADP
cjal-3260	13	15	national	national	ADJ
cjal-3260	13	16	champion	champion	NOUN
cjal-3260	13	17	companies	company	NOUN
cjal-3260	13	18	,	,	PUNCT
cjal-3260	13	19	and	and	CCONJ
cjal-3260	13	20	the	the	DET
cjal-3260	13	21	oftendivergent	oftendivergent	ADJ
cjal-3260	13	22	interests	interest	NOUN
cjal-3260	13	23	and	and	CCONJ
cjal-3260	13	24	expectations	expectation	NOUN
cjal-3260	13	25	among	among	ADP
cjal-3260	13	26	financial	financial	ADJ
cjal-3260	13	27	investors	investor	NOUN
cjal-3260	13	28	,	,	PUNCT
cjal-3260	13	29	shareholder	shareholder	NOUN
cjal-3260	13	30	activists	activist	NOUN
cjal-3260	13	31	,	,	PUNCT
cjal-3260	13	32	local	local	ADJ
cjal-3260	13	33	employees	employee	NOUN
cjal-3260	13	34	and	and	CCONJ
cjal-3260	13	35	other	other	ADJ
cjal-3260	13	36	stakeholders	stakeholder	NOUN
cjal-3260	13	37	.	.	PUNCT
cjal-3260	14	1	the	the	DET
cjal-3260	14	2	case	case	NOUN
cjal-3260	14	3	for	for	ADP
cjal-3260	14	4	empowering	empower	VERB
cjal-3260	14	5	companies	company	NOUN
cjal-3260	14	6	to	to	PART
cjal-3260	14	7	improve	improve	VERB
cjal-3260	14	8	their	their	PRON
cjal-3260	14	9	takeover	takeover	NOUN
cjal-3260	14	10	defenses	defense	NOUN
cjal-3260	14	11	is	be	AUX
cjal-3260	14	12	justifiable	justifiable	ADJ
cjal-3260	14	13	in	in	ADP
cjal-3260	14	14	circumstances	circumstance	NOUN
cjal-3260	14	15	where	where	SCONJ
cjal-3260	14	16	the	the	DET
cjal-3260	14	17	heightened	heighten	VERB
cjal-3260	14	18	defenses	defense	NOUN
cjal-3260	14	19	empower	empower	VERB
cjal-3260	14	20	shareholders	shareholder	NOUN
cjal-3260	14	21	to	to	PART
cjal-3260	14	22	remove	remove	VERB
cjal-3260	14	23	an	an	DET
cjal-3260	14	24	entrenched	entrenched	ADJ
cjal-3260	14	25	management	management	NOUN
cjal-3260	14	26	team	team	NOUN
cjal-3260	14	27	,	,	PUNCT
cjal-3260	14	28	and	and	CCONJ
cjal-3260	14	29	ultimately	ultimately	ADV
cjal-3260	14	30	to	to	PART
cjal-3260	14	31	determine	determine	VERB
cjal-3260	14	32	whether	whether	SCONJ
cjal-3260	14	33	to	to	PART
cjal-3260	14	34	accept	accept	VERB
cjal-3260	14	35	a	a	DET
cjal-3260	14	36	bidder	bidder	NOUN
cjal-3260	14	37	's	's	PART
cjal-3260	14	38	offer	offer	NOUN
cjal-3260	14	39	.	.	PUNCT
cjal-3260	15	1	however	however	ADV
cjal-3260	15	2	,	,	PUNCT
cjal-3260	15	3	absent	absent	ADJ
cjal-3260	15	4	institutional	institutional	ADJ
cjal-3260	15	5	constraints	constraint	NOUN
cjal-3260	15	6	such	such	ADJ
cjal-3260	15	7	as	as	ADP
cjal-3260	15	8	legal	legal	ADJ
cjal-3260	15	9	rules	rule	NOUN
cjal-3260	15	10	,	,	PUNCT
cjal-3260	15	11	large	large	ADJ
cjal-3260	15	12	shareholders	shareholder	NOUN
cjal-3260	15	13	,	,	PUNCT
cjal-3260	15	14	and	and	CCONJ
cjal-3260	15	15	shareholder	shareholder	NOUN
cjal-3260	15	16	approval	approval	NOUN
cjal-3260	15	17	rights	right	NOUN
cjal-3260	15	18	to	to	PART
cjal-3260	15	19	balance	balance	VERB
cjal-3260	15	20	the	the	DET
cjal-3260	15	21	board	board	NOUN
cjal-3260	15	22	's	's	PART
cjal-3260	15	23	power	power	NOUN
cjal-3260	15	24	to	to	PART
cjal-3260	15	25	fend	fend	VERB
cjal-3260	15	26	off	off	ADP
cjal-3260	15	27	takeover	takeover	NOUN
cjal-3260	15	28	attempts	attempt	NOUN
cjal-3260	15	29	,	,	PUNCT
cjal-3260	15	30	the	the	DET
cjal-3260	15	31	protections	protection	NOUN
cjal-3260	15	32	may	may	AUX
cjal-3260	15	33	operate	operate	VERB
cjal-3260	15	34	to	to	PART
cjal-3260	15	35	further	far	ADV
cjal-3260	15	36	concentrate	concentrate	VERB
cjal-3260	15	37	power	power	NOUN
cjal-3260	15	38	in	in	ADP
cjal-3260	15	39	entrenched	entrenched	ADJ
cjal-3260	15	40	boards	board	NOUN
cjal-3260	15	41	,	,	PUNCT
cjal-3260	15	42	causing	cause	VERB
cjal-3260	15	43	great	great	ADJ
cjal-3260	15	44	social	social	ADJ
cjal-3260	15	45	and	and	CCONJ
cjal-3260	15	46	economic	economic	ADJ
cjal-3260	15	47	cost	cost	NOUN
cjal-3260	15	48	due	due	ADP
cjal-3260	15	49	to	to	ADP
cjal-3260	15	50	misallocation	misallocation	NOUN
cjal-3260	15	51	of	of	ADP
cjal-3260	15	52	capital	capital	NOUN
cjal-3260	15	53	and	and	CCONJ
cjal-3260	15	54	staleness	staleness	NOUN
cjal-3260	15	55	in	in	ADP
cjal-3260	15	56	corporate	corporate	ADJ
cjal-3260	15	57	governance	governance	NOUN
cjal-3260	15	58	.	.	PUNCT
cjal-3260	16	1	this	this	DET
cjal-3260	16	2	paper	paper	NOUN
cjal-3260	16	3	analyzes	analyze	VERB
cjal-3260	16	4	the	the	DET
cjal-3260	16	5	case	case	NOUN
cjal-3260	16	6	for	for	ADP
cjal-3260	16	7	enhanced	enhanced	ADJ
cjal-3260	16	8	takeover	takeover	NOUN
cjal-3260	16	9	defenses	defense	NOUN
cjal-3260	16	10	for	for	ADP
cjal-3260	16	11	east	east	ADJ
cjal-3260	16	12	asian	asian	ADJ
cjal-3260	16	13	companies	company	NOUN
cjal-3260	16	14	in	in	ADP
cjal-3260	16	15	the	the	DET
cjal-3260	16	16	modern	modern	ADJ
cjal-3260	16	17	context	context	NOUN
cjal-3260	16	18	of	of	ADP
cjal-3260	16	19	global	global	ADJ
cjal-3260	16	20	investors	investor	NOUN
cjal-3260	16	21	,	,	PUNCT
cjal-3260	16	22	open	open	ADJ
cjal-3260	16	23	capital	capital	NOUN
cjal-3260	16	24	markets	market	NOUN
cjal-3260	16	25	and	and	CCONJ
cjal-3260	16	26	disproportionate	disproportionate	ADJ
cjal-3260	16	27	control	control	NOUN
cjal-3260	16	28	structures	structure	NOUN
cjal-3260	16	29	.	.	PUNCT
cjal-3260	17	1	it	it	PRON
cjal-3260	17	2	surveys	survey	VERB
cjal-3260	17	3	the	the	DET
cjal-3260	17	4	current	current	ADJ
cjal-3260	17	5	state	state	NOUN
cjal-3260	17	6	of	of	ADP
cjal-3260	17	7	two	two	NUM
cjal-3260	17	8	families	family	NOUN
cjal-3260	17	9	of	of	ADP
cjal-3260	17	10	takeover	takeover	NOUN
cjal-3260	17	11	policy	policy	NOUN
cjal-3260	17	12	:	:	PUNCT
cjal-3260	17	13	(	(	PUNCT
cjal-3260	17	14	i	i	NOUN
cjal-3260	17	15	)	)	PUNCT
cjal-3260	17	16	the	the	DET
cjal-3260	17	17	american	american	ADJ
cjal-3260	17	18	and	and	CCONJ
cjal-3260	17	19	japanese	japanese	ADJ
cjal-3260	17	20	experience	experience	NOUN
cjal-3260	17	21	with	with	ADP
cjal-3260	17	22	poison	poison	NOUN
cjal-3260	17	23	pills	pill	NOUN
cjal-3260	17	24	and	and	CCONJ
cjal-3260	17	25	staggered	staggered	ADJ
cjal-3260	17	26	boards	board	NOUN
cjal-3260	17	27	,	,	PUNCT
cjal-3260	17	28	and	and	CCONJ
cjal-3260	17	29	(	(	PUNCT
cjal-3260	17	30	ii	ii	NOUN
cjal-3260	17	31	)	)	PUNCT
cjal-3260	17	32	the	the	DET
cjal-3260	17	33	uk	uk	PROPN
cjal-3260	17	34	's	's	PART
cjal-3260	17	35	"	"	PUNCT
cjal-3260	17	36	board	board	NOUN
cjal-3260	17	37	passivity	passivity	NOUN
cjal-3260	17	38	"	"	PUNCT
cjal-3260	17	39	approach	approach	NOUN
cjal-3260	17	40	and	and	CCONJ
cjal-3260	17	41	its	its	PRON
cjal-3260	17	42	inclusion	inclusion	NOUN
cjal-3260	17	43	in	in	ADP
cjal-3260	17	44	the	the	DET
cjal-3260	17	45	european	european	PROPN
cjal-3260	17	46	union	union	PROPN
cjal-3260	17	47	's	's	PART
cjal-3260	17	48	directive	directive	NOUN
cjal-3260	17	49	on	on	ADP
cjal-3260	17	50	takeover	takeover	NOUN
cjal-3260	17	51	bids	bid	NOUN
cjal-3260	17	52	.	.	PUNCT
cjal-3260	18	1	given	give	VERB
cjal-3260	18	2	the	the	DET
cjal-3260	18	3	incentives	incentive	NOUN
cjal-3260	18	4	of	of	ADP
cjal-3260	18	5	controlling	control	VERB
cjal-3260	18	6	shareholders	shareholder	NOUN
cjal-3260	18	7	to	to	PART
cjal-3260	18	8	seek	seek	VERB
cjal-3260	18	9	greater	great	ADJ
cjal-3260	18	10	takeover	takeover	NOUN
cjal-3260	18	11	protection	protection	NOUN
cjal-3260	18	12	and	and	CCONJ
cjal-3260	18	13	the	the	DET
cjal-3260	18	14	problems	problem	NOUN
cjal-3260	18	15	inherent	inherent	ADJ
cjal-3260	18	16	in	in	ADP
cjal-3260	18	17	controlling	control	VERB
cjal-3260	18	18	minority	minority	ADJ
cjal-3260	18	19	corporate	corporate	ADJ
cjal-3260	18	20	structures	structure	NOUN
cjal-3260	18	21	,	,	PUNCT
cjal-3260	18	22	a	a	DET
cjal-3260	18	23	potentially	potentially	ADV
cjal-3260	18	24	attractive	attractive	ADJ
cjal-3260	18	25	solution	solution	NOUN
cjal-3260	18	26	is	be	AUX
cjal-3260	18	27	proposed	propose	VERB
cjal-3260	18	28	for	for	ADP
cjal-3260	18	29	the	the	DET
cjal-3260	18	30	particular	particular	ADJ
cjal-3260	18	31	context	context	NOUN
cjal-3260	18	32	of	of	ADP
cjal-3260	18	33	east	east	ADJ
cjal-3260	18	34	asian	asian	ADJ
cjal-3260	18	35	markets	market	NOUN
cjal-3260	18	36	:	:	PUNCT
cjal-3260	18	37	an	an	DET
cjal-3260	18	38	opt	opt	VERB
cjal-3260	18	39	-	-	PUNCT
cjal-3260	18	40	in	in	ADP
cjal-3260	18	41	takeover	takeover	NOUN
cjal-3260	18	42	law	law	NOUN
cjal-3260	18	43	regime	regime	NOUN
cjal-3260	18	44	offering	offer	VERB
cjal-3260	18	45	enhanced	enhance	VERB
cjal-3260	18	46	anti	anti	ADJ
cjal-3260	18	47	-	-	ADJ
cjal-3260	18	48	takeover	takeover	ADJ
cjal-3260	18	49	protections	protection	NOUN
cjal-3260	18	50	to	to	ADP
cjal-3260	18	51	companies	company	NOUN
cjal-3260	18	52	that	that	PRON
cjal-3260	18	53	meet	meet	VERB
cjal-3260	18	54	qualifying	qualifying	NOUN
cjal-3260	18	55	criteria	criterion	NOUN
cjal-3260	18	56	.	.	PUNCT
cjal-3260	19	1	eligibility	eligibility	NOUN
cjal-3260	19	2	would	would	AUX
cjal-3260	19	3	be	be	AUX
cjal-3260	19	4	contingent	contingent	ADJ
cjal-3260	19	5	upon	upon	SCONJ
cjal-3260	19	6	an	an	DET
cjal-3260	19	7	effective	effective	ADJ
cjal-3260	19	8	one	one	NUM
cjal-3260	19	9	-	-	PUNCT
cjal-3260	19	10	share	share	NOUN
cjal-3260	19	11	,	,	PUNCT
cjal-3260	19	12	one	one	NUM
cjal-3260	19	13	-	-	PUNCT
cjal-3260	19	14	vote	vote	NOUN
cjal-3260	19	15	control	control	NOUN
cjal-3260	19	16	structure	structure	NOUN
cjal-3260	19	17	,	,	PUNCT
cjal-3260	19	18	and	and	CCONJ
cjal-3260	19	19	adequate	adequate	ADJ
cjal-3260	19	20	disclosure	disclosure	NOUN
cjal-3260	19	21	practices	practice	NOUN
cjal-3260	19	22	.	.	PUNCT
cjal-3260	20	1	the	the	DET
cjal-3260	20	2	opt	opt	VERB
cjal-3260	20	3	-	-	PUNCT
cjal-3260	20	4	in	in	ADP
cjal-3260	20	5	takeover	takeover	NOUN
cjal-3260	20	6	law	law	NOUN
cjal-3260	20	7	would	would	AUX
cjal-3260	20	8	allow	allow	VERB
cjal-3260	20	9	boards	board	NOUN
cjal-3260	20	10	to	to	PART
cjal-3260	20	11	reject	reject	VERB
cjal-3260	20	12	an	an	DET
cjal-3260	20	13	unsolicited	unsolicited	ADJ
cjal-3260	20	14	bid	bid	NOUN
cjal-3260	20	15	,	,	PUNCT
cjal-3260	20	16	but	but	CCONJ
cjal-3260	20	17	deprive	deprive	VERB
cjal-3260	20	18	them	they	PRON
cjal-3260	20	19	of	of	ADP
cjal-3260	20	20	the	the	DET
cjal-3260	20	21	ability	ability	NOUN
cjal-3260	20	22	to	to	PART
cjal-3260	20	23	use	use	VERB
cjal-3260	20	24	a	a	DET
cjal-3260	20	25	staggered	staggered	ADJ
cjal-3260	20	26	board	board	NOUN
cjal-3260	20	27	to	to	PART
cjal-3260	20	28	block	block	VERB
cjal-3260	20	29	a	a	DET
cjal-3260	20	30	bid	bid	NOUN
cjal-3260	20	31	where	where	SCONJ
cjal-3260	20	32	the	the	DET
cjal-3260	20	33	bidder	bidder	NOUN
cjal-3260	20	34	wins	win	VERB
cjal-3260	20	35	a	a	DET
cjal-3260	20	36	proxy	proxy	NOUN
cjal-3260	20	37	contest	contest	NOUN
cjal-3260	20	38	.	.	PUNCT
cjal-3260	21	1	the	the	DET
cjal-3260	21	2	opt	opt	VERB
cjal-3260	21	3	-	-	PUNCT
cjal-3260	21	4	in	in	ADP
cjal-3260	21	5	regime	regime	NOUN
cjal-3260	21	6	strives	strive	VERB
cjal-3260	21	7	to	to	PART
cjal-3260	21	8	achieve	achieve	VERB
cjal-3260	21	9	that	that	DET
cjal-3260	21	10	elusive	elusive	ADJ
cjal-3260	21	11	balance	balance	NOUN
cjal-3260	21	12	between	between	ADP
cjal-3260	21	13	the	the	DET
cjal-3260	21	14	protection	protection	NOUN
cjal-3260	21	15	of	of	ADP
cjal-3260	21	16	deserving	deserve	VERB
cjal-3260	21	17	managers	manager	NOUN
cjal-3260	21	18	and	and	CCONJ
cjal-3260	21	19	the	the	DET
cjal-3260	21	20	preservation	preservation	NOUN
cjal-3260	21	21	of	of	ADP
cjal-3260	21	22	the	the	DET
cjal-3260	21	23	shareholder	shareholder	NOUN
cjal-3260	21	24	franchise	franchise	NOUN
cjal-3260	21	25	.	.	PUNCT
cjal-3260	22	1	it	it	PRON
cjal-3260	22	2	would	would	AUX
cjal-3260	22	3	do	do	VERB
cjal-3260	22	4	no	no	DET
cjal-3260	22	5	new	new	ADJ
cjal-3260	22	6	harm	harm	NOUN
cjal-3260	22	7	to	to	ADP
cjal-3260	22	8	shareholders	shareholder	NOUN
cjal-3260	22	9	or	or	CCONJ
cjal-3260	22	10	capital	capital	NOUN
cjal-3260	22	11	markets	market	NOUN
cjal-3260	22	12	for	for	ADP
cjal-3260	22	13	those	those	DET
cjal-3260	22	14	companies	company	NOUN
cjal-3260	22	15	that	that	PRON
cjal-3260	22	16	choose	choose	VERB
cjal-3260	22	17	not	not	PART
cjal-3260	22	18	to	to	PART
cjal-3260	22	19	opt	opt	VERB
cjal-3260	22	20	in	in	ADP
cjal-3260	22	21	,	,	PUNCT
cjal-3260	22	22	but	but	CCONJ
cjal-3260	22	23	markets	market	NOUN
cjal-3260	22	24	may	may	AUX
cjal-3260	22	25	judge	judge	VERB
cjal-3260	22	26	companies	company	NOUN
cjal-3260	22	27	that	that	PRON
cjal-3260	22	28	opt	opt	VERB
cjal-3260	22	29	out	out	ADP
cjal-3260	22	30	harshly	harshly	ADV
cjal-3260	22	31	,	,	PUNCT
cjal-3260	22	32	and	and	CCONJ
cjal-3260	22	33	company	company	NOUN
cjal-3260	22	34	managers	manager	NOUN
cjal-3260	22	35	likely	likely	ADV
cjal-3260	22	36	would	would	AUX
cjal-3260	22	37	be	be	AUX
cjal-3260	22	38	attracted	attract	VERB
cjal-3260	22	39	to	to	ADP
cjal-3260	22	40	the	the	DET
cjal-3260	22	41	benefits	benefit	NOUN
cjal-3260	22	42	of	of	ADP
cjal-3260	22	43	the	the	DET
cjal-3260	22	44	defensive	defensive	ADJ
cjal-3260	22	45	measures	measure	NOUN
cjal-3260	22	46	.	.	PUNCT
cjal-3260	23	1	most	most	ADV
cjal-3260	23	2	importantly	importantly	ADV
cjal-3260	23	3	,	,	PUNCT
cjal-3260	23	4	the	the	DET
cjal-3260	23	5	opt	opt	VERB
cjal-3260	23	6	-	-	PUNCT
cjal-3260	23	7	in	in	ADP
cjal-3260	23	8	regime	regime	NOUN
cjal-3260	23	9	aims	aim	VERB
cjal-3260	23	10	to	to	PART
cjal-3260	23	11	bypass	bypass	VERB
cjal-3260	23	12	the	the	DET
cjal-3260	23	13	difficulties	difficulty	NOUN
cjal-3260	23	14	confronting	confront	VERB
cjal-3260	23	15	delaware	delaware	PROPN
cjal-3260	23	16	courts	court	NOUN
cjal-3260	23	17	in	in	ADP
cjal-3260	23	18	the	the	DET
cjal-3260	23	19	u.s	u.s	PROPN
cjal-3260	23	20	.	.	PROPN
cjal-3260	23	21	and	and	CCONJ
cjal-3260	23	22	the	the	DET
cjal-3260	23	23	european	european	ADJ
cjal-3260	23	24	commissioners	commissioner	NOUN
cjal-3260	23	25	in	in	ADP
cjal-3260	23	26	their	their	PRON
cjal-3260	23	27	[	[	X
cjal-3260	23	28	20:2	20:2	NUM
cjal-3260	23	29	national	national	ADJ
cjal-3260	23	30	markets	market	NOUN
cjal-3260	23	31	,	,	PUNCT
cjal-3260	23	32	new	new	ADJ
cjal-3260	23	33	defenses	defense	NOUN
cjal-3260	23	34	thirteenth	thirteenth	ADJ
cjal-3260	23	35	directive	directive	NOUN
cjal-3260	23	36	on	on	ADP
cjal-3260	23	37	takeover	takeover	NOUN
cjal-3260	23	38	bids	bid	NOUN
cjal-3260	23	39	as	as	SCONJ
cjal-3260	23	40	they	they	PRON
cjal-3260	23	41	wrestle	wrestle	VERB
cjal-3260	23	42	with	with	ADP
cjal-3260	23	43	takeover	takeover	NOUN
cjal-3260	23	44	defenses	defense	NOUN
cjal-3260	23	45	,	,	PUNCT
cjal-3260	23	46	incumbent	incumbent	NOUN
cjal-3260	23	47	-	-	PUNCT
cjal-3260	23	48	protected	protect	VERB
cjal-3260	23	49	companies	company	NOUN
cjal-3260	23	50	,	,	PUNCT
cjal-3260	23	51	and	and	CCONJ
cjal-3260	23	52	cross	cross	ADJ
cjal-3260	23	53	-	-	ADJ
cjal-3260	23	54	border	border	ADJ
cjal-3260	23	55	reciprocity	reciprocity	NOUN
cjal-3260	23	56	issues	issue	NOUN
cjal-3260	23	57	accompanying	accompany	VERB
cjal-3260	23	58	global	global	ADJ
cjal-3260	23	59	investors	investor	NOUN
cjal-3260	23	60	and	and	CCONJ
cjal-3260	23	61	open	open	ADJ
cjal-3260	23	62	markets	market	NOUN
cjal-3260	23	63	.	.	PUNCT
cjal-3260	24	1	additionally	additionally	ADV
cjal-3260	24	2	,	,	PUNCT
cjal-3260	24	3	the	the	DET
cjal-3260	24	4	opt	opt	VERB
cjal-3260	24	5	-	-	PUNCT
cjal-3260	24	6	in	in	ADP
cjal-3260	24	7	regime	regime	NOUN
cjal-3260	24	8	could	could	AUX
cjal-3260	24	9	streamline	streamline	VERB
cjal-3260	24	10	the	the	DET
cjal-3260	24	11	political	political	ADJ
cjal-3260	24	12	debate	debate	NOUN
cjal-3260	24	13	over	over	ADP
cjal-3260	24	14	defensive	defensive	ADJ
cjal-3260	24	15	measures	measure	NOUN
cjal-3260	24	16	,	,	PUNCT
cjal-3260	24	17	and	and	CCONJ
cjal-3260	24	18	eliminate	eliminate	VERB
cjal-3260	24	19	the	the	DET
cjal-3260	24	20	need	need	NOUN
cjal-3260	24	21	for	for	ADP
cjal-3260	24	22	tradeoffs	tradeoff	NOUN
cjal-3260	24	23	that	that	PRON
cjal-3260	24	24	otherwise	otherwise	ADV
cjal-3260	24	25	would	would	AUX
cjal-3260	24	26	be	be	AUX
cjal-3260	24	27	made	make	VERB
cjal-3260	24	28	with	with	ADP
cjal-3260	24	29	a	a	DET
cjal-3260	24	30	uniform	uniform	ADJ
cjal-3260	24	31	national	national	ADJ
cjal-3260	24	32	law	law	NOUN
cjal-3260	24	33	.	.	PUNCT
cjal-3260	25	1	by	by	ADP
cjal-3260	25	2	setting	set	VERB
cjal-3260	25	3	up	up	ADP
cjal-3260	25	4	clear	clear	ADJ
cjal-3260	25	5	,	,	PUNCT
cjal-3260	25	6	transparent	transparent	ADJ
cjal-3260	25	7	rules	rule	NOUN
cjal-3260	25	8	to	to	PART
cjal-3260	25	9	govern	govern	VERB
cjal-3260	25	10	the	the	DET
cjal-3260	25	11	market	market	NOUN
cjal-3260	25	12	for	for	ADP
cjal-3260	25	13	corporate	corporate	ADJ
cjal-3260	25	14	control	control	NOUN
cjal-3260	25	15	,	,	PUNCT
cjal-3260	25	16	players	player	NOUN
cjal-3260	25	17	in	in	ADP
cjal-3260	25	18	capital	capital	NOUN
cjal-3260	25	19	markets	market	NOUN
cjal-3260	25	20	will	will	AUX
cjal-3260	25	21	have	have	VERB
cjal-3260	25	22	a	a	DET
cjal-3260	25	23	better	well	ADJ
cjal-3260	25	24	road	road	NOUN
cjal-3260	25	25	map	map	NOUN
cjal-3260	25	26	to	to	ADP
cjal-3260	25	27	the	the	DET
cjal-3260	25	28	costs	cost	NOUN
cjal-3260	25	29	and	and	CCONJ
cjal-3260	25	30	conditions	condition	NOUN
cjal-3260	25	31	of	of	ADP
cjal-3260	25	32	hostile	hostile	ADJ
cjal-3260	25	33	acquisitions	acquisition	NOUN
cjal-3260	25	34	.	.	PUNCT
cjal-3260	26	1	under	under	ADP
cjal-3260	26	2	the	the	DET
cjal-3260	26	3	right	right	ADJ
cjal-3260	26	4	circumstances	circumstance	NOUN
cjal-3260	26	5	,	,	PUNCT
cjal-3260	26	6	companies	company	NOUN
cjal-3260	26	7	could	could	AUX
cjal-3260	26	8	enjoy	enjoy	VERB
cjal-3260	26	9	increased	increase	VERB
cjal-3260	26	10	protection	protection	NOUN
cjal-3260	26	11	,	,	PUNCT
cjal-3260	26	12	minimizing	minimize	VERB
cjal-3260	26	13	the	the	DET
cjal-3260	26	14	concern	concern	NOUN
cjal-3260	26	15	that	that	SCONJ
cjal-3260	26	16	they	they	PRON
cjal-3260	26	17	will	will	AUX
cjal-3260	26	18	be	be	AUX
cjal-3260	26	19	raided	raid	VERB
cjal-3260	26	20	and	and	CCONJ
cjal-3260	26	21	forced	force	VERB
cjal-3260	26	22	to	to	PART
cjal-3260	26	23	sacrifice	sacrifice	VERB
cjal-3260	26	24	their	their	PRON
cjal-3260	26	25	long	long	ADJ
cjal-3260	26	26	-	-	PUNCT
cjal-3260	26	27	term	term	NOUN
cjal-3260	26	28	best	good	ADJ
cjal-3260	26	29	interest	interest	NOUN
cjal-3260	26	30	for	for	ADP
cjal-3260	26	31	a	a	DET
cjal-3260	26	32	corporate	corporate	ADJ
cjal-3260	26	33	raider	raider	NOUN
cjal-3260	26	34	's	's	PART
cjal-3260	26	35	short	short	ADJ
cjal-3260	26	36	-	-	PUNCT
cjal-3260	26	37	term	term	NOUN
cjal-3260	26	38	gain	gain	NOUN
cjal-3260	26	39	.	.	PUNCT
cjal-3260	27	1	this	this	DET
cjal-3260	27	2	paper	paper	NOUN
cjal-3260	27	3	is	be	AUX
cjal-3260	27	4	organized	organize	VERB
cjal-3260	27	5	as	as	SCONJ
cjal-3260	27	6	follows	follow	VERB
cjal-3260	27	7	:	:	PUNCT
cjal-3260	27	8	part	part	NOUN
cjal-3260	27	9	i	i	PRON
cjal-3260	27	10	presents	present	VERB
cjal-3260	27	11	the	the	DET
cjal-3260	27	12	companies	company	NOUN
cjal-3260	27	13	'	'	PART
cjal-3260	27	14	interests	interest	NOUN
cjal-3260	27	15	in	in	ADP
cjal-3260	27	16	strong	strong	ADJ
cjal-3260	27	17	takeover	takeover	NOUN
cjal-3260	27	18	defenses	defense	NOUN
cjal-3260	27	19	,	,	PUNCT
cjal-3260	27	20	and	and	CCONJ
cjal-3260	27	21	introduces	introduce	VERB
cjal-3260	27	22	policy	policy	NOUN
cjal-3260	27	23	concerns	concern	NOUN
cjal-3260	27	24	facing	face	VERB
cjal-3260	27	25	a	a	DET
cjal-3260	27	26	healthy	healthy	ADJ
cjal-3260	27	27	market	market	NOUN
cjal-3260	27	28	for	for	ADP
cjal-3260	27	29	corporate	corporate	ADJ
cjal-3260	27	30	control	control	NOUN
cjal-3260	27	31	.	.	PUNCT
cjal-3260	28	1	part	part	NOUN
cjal-3260	28	2	ii	ii	PROPN
cjal-3260	28	3	analyzes	analyze	VERB
cjal-3260	28	4	the	the	DET
cjal-3260	28	5	various	various	ADJ
cjal-3260	28	6	families	family	NOUN
cjal-3260	28	7	of	of	ADP
cjal-3260	28	8	takeover	takeover	NOUN
cjal-3260	28	9	policy	policy	NOUN
cjal-3260	28	10	,	,	PUNCT
cjal-3260	28	11	and	and	CCONJ
cjal-3260	28	12	assesses	assess	VERB
cjal-3260	28	13	their	their	PRON
cjal-3260	28	14	utility	utility	NOUN
cjal-3260	28	15	based	base	VERB
cjal-3260	28	16	upon	upon	SCONJ
cjal-3260	28	17	the	the	DET
cjal-3260	28	18	experiences	experience	NOUN
cjal-3260	28	19	of	of	ADP
cjal-3260	28	20	their	their	PRON
cjal-3260	28	21	home	home	NOUN
cjal-3260	28	22	markets	market	NOUN
cjal-3260	28	23	:	:	PUNCT
cjal-3260	28	24	the	the	DET
cjal-3260	28	25	poison	poison	NOUN
cjal-3260	28	26	pill	pill	NOUN
cjal-3260	28	27	and	and	CCONJ
cjal-3260	28	28	judicially	judicially	ADV
cjal-3260	28	29	-	-	PUNCT
cjal-3260	28	30	imposed	impose	VERB
cjal-3260	28	31	limits	limit	NOUN
cjal-3260	28	32	in	in	ADP
cjal-3260	28	33	the	the	DET
cjal-3260	28	34	u.s	u.s	PROPN
cjal-3260	28	35	.	.	PROPN
cjal-3260	28	36	(	(	PUNCT
cjal-3260	28	37	as	as	ADV
cjal-3260	28	38	well	well	ADV
cjal-3260	28	39	as	as	ADP
cjal-3260	28	40	the	the	DET
cjal-3260	28	41	new	new	ADJ
cjal-3260	28	42	japanese	japanese	ADJ
cjal-3260	28	43	poison	poison	NOUN
cjal-3260	28	44	pill	pill	NOUN
cjal-3260	28	45	)	)	PUNCT
cjal-3260	28	46	,	,	PUNCT
cjal-3260	28	47	the	the	DET
cjal-3260	28	48	u.k	u.k	PROPN
cjal-3260	28	49	.	.	PROPN
cjal-3260	28	50	's	's	PART
cjal-3260	28	51	"	"	PUNCT
cjal-3260	28	52	board	board	NOUN
cjal-3260	28	53	passivity	passivity	NOUN
cjal-3260	28	54	"	"	PUNCT
cjal-3260	28	55	rule	rule	NOUN
cjal-3260	28	56	and	and	CCONJ
cjal-3260	28	57	takeover	takeover	NOUN
cjal-3260	28	58	panel	panel	NOUN
cjal-3260	28	59	,	,	PUNCT
cjal-3260	28	60	and	and	CCONJ
cjal-3260	28	61	the	the	DET
cjal-3260	28	62	european	european	PROPN
cjal-3260	28	63	union	union	PROPN
cjal-3260	28	64	's	's	PART
cjal-3260	28	65	"	"	PUNCT
cjal-3260	28	66	break	break	NOUN
cjal-3260	28	67	-	-	PUNCT
cjal-3260	28	68	through	through	NOUN
cjal-3260	28	69	"	"	PUNCT
cjal-3260	28	70	rule	rule	NOUN
cjal-3260	28	71	in	in	ADP
cjal-3260	28	72	the	the	DET
cjal-3260	28	73	thirteenth	thirteenth	ADJ
cjal-3260	28	74	directive	directive	NOUN
cjal-3260	28	75	on	on	ADP
cjal-3260	28	76	takeover	takeover	NOUN
cjal-3260	28	77	bids	bid	NOUN
cjal-3260	28	78	.	.	PUNCT
cjal-3260	29	1	part	part	NOUN
cjal-3260	29	2	iii	iii	NUM
cjal-3260	29	3	proposes	propose	VERB
cjal-3260	29	4	,	,	PUNCT
cjal-3260	29	5	under	under	ADP
cjal-3260	29	6	certain	certain	ADJ
cjal-3260	29	7	conditions	condition	NOUN
cjal-3260	29	8	,	,	PUNCT
cjal-3260	29	9	the	the	DET
cjal-3260	29	10	opt	opt	VERB
cjal-3260	29	11	-	-	PUNCT
cjal-3260	29	12	in	in	ADP
cjal-3260	29	13	regime	regime	NOUN
cjal-3260	29	14	for	for	ADP
cjal-3260	29	15	adopting	adopt	VERB
cjal-3260	29	16	enhanced	enhance	VERB
cjal-3260	29	17	defensive	defensive	ADJ
cjal-3260	29	18	measures	measure	NOUN
cjal-3260	29	19	in	in	ADP
cjal-3260	29	20	east	east	PROPN
cjal-3260	29	21	asia	asia	PROPN
cjal-3260	29	22	.	.	PUNCT
cjal-3260	30	1	part	part	NOUN
cjal-3260	30	2	iv	iv	NUM
cjal-3260	30	3	concludes	conclude	VERB
cjal-3260	30	4	and	and	CCONJ
cjal-3260	30	5	identifies	identify	VERB
cjal-3260	30	6	additional	additional	ADJ
cjal-3260	30	7	research	research	NOUN
cjal-3260	30	8	for	for	ADP
cjal-3260	30	9	takeover	takeover	NOUN
cjal-3260	30	10	policy	policy	NOUN
cjal-3260	30	11	in	in	ADP
cjal-3260	30	12	the	the	DET
cjal-3260	30	13	east	east	ADJ
cjal-3260	30	14	asian	asian	ADJ
cjal-3260	30	15	context	context	NOUN
cjal-3260	30	16	.	.	PUNCT
cjal-3260	31	1	ii	ii	PROPN
cjal-3260	31	2	.	.	PUNCT
cjal-3260	32	1	the	the	DET
cjal-3260	32	2	social	social	ADJ
cjal-3260	32	3	value	value	NOUN
cjal-3260	32	4	of	of	ADP
cjal-3260	32	5	takeovers	takeover	NOUN
cjal-3260	32	6	and	and	CCONJ
cjal-3260	32	7	the	the	DET
cjal-3260	32	8	new	new	ADJ
cjal-3260	32	9	demand	demand	NOUN
cjal-3260	32	10	for	for	ADP
cjal-3260	32	11	defenses	defense	NOUN
cjal-3260	32	12	anti	anti	ADJ
cjal-3260	32	13	-	-	ADJ
cjal-3260	32	14	takeover	takeover	ADJ
cjal-3260	32	15	defenses	defense	NOUN
cjal-3260	32	16	suddenly	suddenly	ADV
cjal-3260	32	17	are	be	AUX
cjal-3260	32	18	in	in	ADP
cjal-3260	32	19	high	high	ADJ
cjal-3260	32	20	demand	demand	NOUN
cjal-3260	32	21	for	for	ADP
cjal-3260	32	22	east	east	ADJ
cjal-3260	32	23	asian	asian	ADJ
cjal-3260	32	24	companies	company	NOUN
cjal-3260	32	25	,	,	PUNCT
cjal-3260	32	26	perhaps	perhaps	ADV
cjal-3260	32	27	most	most	ADV
cjal-3260	32	28	urgently	urgently	ADV
cjal-3260	32	29	in	in	ADP
cjal-3260	32	30	south	south	ADJ
cjal-3260	32	31	korea.1	korea.1	NOUN
cjal-3260	32	32	the	the	DET
cjal-3260	32	33	further	further	ADJ
cjal-3260	32	34	opening	opening	NOUN
cjal-3260	32	35	of	of	ADP
cjal-3260	32	36	capital	capital	NOUN
cjal-3260	32	37	markets	market	NOUN
cjal-3260	32	38	in	in	ADP
cjal-3260	32	39	east	east	ADJ
cjal-3260	32	40	asian	asian	ADJ
cjal-3260	32	41	economies	economy	NOUN
cjal-3260	32	42	in	in	ADP
cjal-3260	32	43	the	the	DET
cjal-3260	32	44	early	early	ADJ
cjal-3260	32	45	twenty	twenty	NUM
cjal-3260	32	46	first	first	ADJ
cjal-3260	32	47	century	century	NOUN
cjal-3260	32	48	has	have	AUX
cjal-3260	32	49	come	come	VERB
cjal-3260	32	50	with	with	ADP
cjal-3260	32	51	the	the	DET
cjal-3260	32	52	possibility	possibility	NOUN
cjal-3260	32	53	of	of	ADP
cjal-3260	32	54	hostile	hostile	ADJ
cjal-3260	32	55	takeovers	takeover	NOUN
cjal-3260	32	56	to	to	ADP
cjal-3260	32	57	these	these	DET
cjal-3260	32	58	lands	land	NOUN
cjal-3260	32	59	of	of	ADP
cjal-3260	32	60	formerly	formerly	ADV
cjal-3260	32	61	friendly	friendly	ADJ
cjal-3260	32	62	shareholders	shareholder	NOUN
cjal-3260	32	63	.	.	PUNCT
cjal-3260	33	1	the	the	DET
cjal-3260	33	2	market	market	NOUN
cjal-3260	33	3	for	for	ADP
cjal-3260	33	4	corporate	corporate	ADJ
cjal-3260	33	5	control	control	NOUN
cjal-3260	33	6	now	now	ADV
cjal-3260	33	7	includes	include	VERB
cjal-3260	33	8	foreign	foreign	ADJ
cjal-3260	33	9	investment	investment	NOUN
cjal-3260	33	10	funds	fund	NOUN
cjal-3260	33	11	and	and	CCONJ
cjal-3260	33	12	foreign	foreign	ADJ
cjal-3260	33	13	companies	company	NOUN
cjal-3260	33	14	,	,	PUNCT
cjal-3260	33	15	as	as	ADV
cjal-3260	33	16	well	well	ADV
cjal-3260	33	17	as	as	ADP
cjal-3260	33	18	domestic	domestic	ADJ
cjal-3260	33	19	players	player	NOUN
cjal-3260	33	20	.	.	PUNCT
cjal-3260	34	1	the	the	DET
cjal-3260	34	2	regional	regional	ADJ
cjal-3260	34	3	perception	perception	NOUN
cjal-3260	34	4	is	be	AUX
cjal-3260	34	5	that	that	SCONJ
cjal-3260	34	6	foreign	foreign	ADJ
cjal-3260	34	7	"	"	PUNCT
cjal-3260	34	8	barbarians	barbarian	NOUN
cjal-3260	34	9	"	"	PUNCT
cjal-3260	34	10	'	'	PUNCT
cjal-3260	34	11	see	see	VERB
cjal-3260	34	12	moon	moon	NOUN
cjal-3260	34	13	so	so	ADV
cjal-3260	34	14	-	-	PUNCT
cjal-3260	34	15	young	young	ADJ
cjal-3260	34	16	&	&	CCONJ
cjal-3260	34	17	jung	jung	PROPN
cjal-3260	34	18	ha	ha	PROPN
cjal-3260	34	19	-	-	PUNCT
cjal-3260	34	20	won	win	VERB
cjal-3260	34	21	,	,	PUNCT
cjal-3260	34	22	business	business	NOUN
cjal-3260	34	23	wants	want	VERB
cjal-3260	34	24	poison	poison	NOUN
cjal-3260	34	25	pills	pill	NOUN
cjal-3260	34	26	:	:	PUNCT
cjal-3260	35	1	defenses	defense	NOUN
cjal-3260	35	2	called	call	VERB
cjal-3260	35	3	lacking	lack	VERB
cjal-3260	35	4	against	against	ADP
cjal-3260	35	5	hostile	hostile	ADJ
cjal-3260	35	6	takeovers	takeover	NOUN
cjal-3260	35	7	,	,	PUNCT
cjal-3260	35	8	the	the	DET
cjal-3260	35	9	joong	joong	PROPN
cjal-3260	35	10	ang	ang	PROPN
cjal-3260	35	11	daily	daily	PROPN
cjal-3260	35	12	,	,	PUNCT
cjal-3260	35	13	apr	apr	PROPN
cjal-3260	35	14	.	.	PROPN
cjal-3260	35	15	3	3	NUM
cjal-3260	35	16	,	,	PUNCT
cjal-3260	35	17	2006	2006	NUM
cjal-3260	35	18	,	,	PUNCT
cjal-3260	35	19	at	at	ADP
cjal-3260	35	20	al	al	PROPN
cjal-3260	35	21	;	;	PUNCT
cjal-3260	35	22	greg	greg	PROPN
cjal-3260	35	23	ip	ip	PROPN
cjal-3260	35	24	&	&	CCONJ
cjal-3260	35	25	neil	neil	PROPN
cjal-3260	35	26	king	king	PROPN
cjal-3260	35	27	,	,	PUNCT
cjal-3260	35	28	jr	jr	PROPN
cjal-3260	35	29	.	.	PROPN
cjal-3260	35	30	,	,	PUNCT
cjal-3260	35	31	engine	engine	NOUN
cjal-3260	35	32	of	of	ADP
cjal-3260	35	33	globalization	globalization	NOUN
cjal-3260	35	34	runs	run	VERB
cjal-3260	35	35	into	into	ADP
cjal-3260	35	36	big	big	ADJ
cjal-3260	35	37	roadblocks	roadblock	NOUN
cjal-3260	35	38	:	:	PUNCT
cjal-3260	35	39	multinationals	multinational	NOUN
cjal-3260	35	40	spur	spur	VERB
cjal-3260	35	41	a	a	DET
cjal-3260	35	42	political	political	ADJ
cjal-3260	35	43	backlash	backlash	NOUN
cjal-3260	35	44	;	;	PUNCT
cjal-3260	35	45	china	china	PROPN
cjal-3260	35	46	,	,	PUNCT
cjal-3260	35	47	korea	korea	PROPN
cjal-3260	35	48	angst	angst	PROPN
cjal-3260	35	49	,	,	PUNCT
cjal-3260	36	1	wall	wall	PROPN
cjal-3260	36	2	st	st	PROPN
cjal-3260	36	3	.	.	PROPN
cjal-3260	36	4	j.	j.	PROPN
cjal-3260	36	5	(	(	PUNCT
cjal-3260	36	6	asia	asia	PROPN
cjal-3260	36	7	)	)	PUNCT
cjal-3260	36	8	,	,	PUNCT
cjal-3260	36	9	mar	mar	PROPN
cjal-3260	36	10	.	.	PROPN
cjal-3260	36	11	13	13	NUM
cjal-3260	36	12	,	,	PUNCT
cjal-3260	36	13	2006	2006	NUM
cjal-3260	36	14	,	,	PUNCT
cjal-3260	36	15	at	at	ADP
cjal-3260	36	16	cl	cl	NOUN
cjal-3260	36	17	;	;	PUNCT
cjal-3260	36	18	koh	koh	PROPN
cjal-3260	36	19	byung	byung	PROPN
cjal-3260	36	20	-	-	PUNCT
cjal-3260	36	21	joon	joon	PROPN
cjal-3260	36	22	,	,	PUNCT
cjal-3260	36	23	s.	s.	PROPN
cjal-3260	36	24	korea	korea	PROPN
cjal-3260	36	25	,	,	PUNCT
cjal-3260	36	26	prime	prime	ADJ
cjal-3260	36	27	target	target	NOUN
cjal-3260	36	28	of	of	ADP
cjal-3260	36	29	foreign	foreign	ADJ
cjal-3260	36	30	hostile	hostile	ADJ
cjal-3260	36	31	takeovers	takeover	NOUN
cjal-3260	36	32	,	,	PUNCT
cjal-3260	36	33	yonhap	yonhap	PROPN
cjal-3260	36	34	news	news	PROPN
cjal-3260	36	35	,	,	PUNCT
cjal-3260	36	36	mar	mar	PROPN
cjal-3260	36	37	.	.	PROPN
cjal-3260	36	38	7	7	NUM
cjal-3260	36	39	,	,	PUNCT
cjal-3260	36	40	2006	2006	NUM
cjal-3260	36	41	.	.	PUNCT
cjal-3260	37	1	the	the	DET
cjal-3260	37	2	article	article	NOUN
cjal-3260	37	3	quotes	quote	VERB
cjal-3260	37	4	lee	lee	PROPN
cjal-3260	37	5	kyung	kyung	PROPN
cjal-3260	37	6	-	-	PUNCT
cjal-3260	37	7	sang	sang	PROPN
cjal-3260	37	8	of	of	ADP
cjal-3260	37	9	the	the	DET
cjal-3260	37	10	korean	korean	PROPN
cjal-3260	37	11	chamber	chamber	PROPN
cjal-3260	37	12	of	of	ADP
cjal-3260	37	13	commerce	commerce	PROPN
cjal-3260	37	14	&	&	CCONJ
cjal-3260	37	15	industry	industry	PROPN
cjal-3260	37	16	:	:	PUNCT
cjal-3260	37	17	"	"	PUNCT
cjal-3260	37	18	south	south	PROPN
cjal-3260	37	19	korea	korea	PROPN
cjal-3260	37	20	is	be	AUX
cjal-3260	37	21	a	a	DET
cjal-3260	37	22	heaven	heaven	NOUN
cjal-3260	37	23	for	for	ADP
cjal-3260	37	24	hostile	hostile	ADJ
cjal-3260	37	25	takeovers	takeover	NOUN
cjal-3260	37	26	...	...	PUNCT
cjal-3260	38	1	it	it	PRON
cjal-3260	38	2	seems	seem	VERB
cjal-3260	38	3	as	as	SCONJ
cjal-3260	38	4	if	if	SCONJ
cjal-3260	38	5	south	south	ADJ
cjal-3260	38	6	korean	korean	ADJ
cjal-3260	38	7	firms	firm	NOUN
cjal-3260	38	8	are	be	AUX
cjal-3260	38	9	fighting	fight	VERB
cjal-3260	38	10	with	with	ADP
cjal-3260	38	11	a	a	DET
cjal-3260	38	12	wooden	wooden	ADJ
cjal-3260	38	13	shield	shield	NOUN
cjal-3260	38	14	against	against	ADP
cjal-3260	38	15	foreign	foreign	ADJ
cjal-3260	38	16	funds	fund	NOUN
cjal-3260	38	17	with	with	ADP
cjal-3260	38	18	iron	iron	NOUN
cjal-3260	38	19	swords	sword	NOUN
cjal-3260	38	20	.	.	PUNCT
cjal-3260	38	21	"	"	PUNCT
cjal-3260	39	1	the	the	DET
cjal-3260	39	2	article	article	NOUN
cjal-3260	39	3	continues	continue	VERB
cjal-3260	39	4	,	,	PUNCT
cjal-3260	39	5	"	"	PUNCT
cjal-3260	39	6	local	local	ADJ
cjal-3260	39	7	firms	firm	NOUN
cjal-3260	39	8	'	'	PART
cjal-3260	39	9	vulnerability	vulnerability	NOUN
cjal-3260	39	10	stems	stem	VERB
cjal-3260	39	11	from	from	ADP
cjal-3260	39	12	the	the	DET
cjal-3260	39	13	lack	lack	NOUN
cjal-3260	39	14	of	of	ADP
cjal-3260	39	15	'	'	PUNCT
cjal-3260	39	16	shark	shark	NOUN
cjal-3260	39	17	repellents	repellent	NOUN
cjal-3260	39	18	,	,	PUNCT
cjal-3260	39	19	'	'	PUNCT
cjal-3260	39	20	or	or	CCONJ
cjal-3260	39	21	measures	measure	NOUN
cjal-3260	39	22	that	that	PRON
cjal-3260	39	23	they	they	PRON
cjal-3260	39	24	can	can	AUX
cjal-3260	39	25	take	take	VERB
cjal-3260	39	26	to	to	PART
cjal-3260	39	27	ward	ward	VERB
cjal-3260	39	28	off	off	ADP
cjal-3260	39	29	unsolicited	unsolicited	ADJ
cjal-3260	39	30	suitors	suitor	NOUN
cjal-3260	39	31	.	.	PUNCT
cjal-3260	39	32	"	"	PUNCT
cjal-3260	40	1	2007	2007	NUM
cjal-3260	40	2	]	]	PUNCT
cjal-3260	40	3	columbia	columbia	PROPN
cjal-3260	40	4	journal	journal	PROPN
cjal-3260	40	5	ofasianlaw	ofasianlaw	PROPN
cjal-3260	40	6	pose	pose	VERB
cjal-3260	40	7	a	a	DET
cjal-3260	40	8	particularly	particularly	ADV
cjal-3260	40	9	risky	risky	ADJ
cjal-3260	40	10	problem	problem	NOUN
cjal-3260	40	11	for	for	ADP
cjal-3260	40	12	domestic	domestic	ADJ
cjal-3260	40	13	companies	company	NOUN
cjal-3260	40	14	and	and	CCONJ
cjal-3260	40	15	capital	capital	NOUN
cjal-3260	40	16	markets	market	NOUN
cjal-3260	40	17	:	:	PUNCT
cjal-3260	40	18	"	"	PUNCT
cjal-3260	40	19	'	'	PUNCT
cjal-3260	40	20	vulture	vulture	NOUN
cjal-3260	40	21	'	'	PUNCT
cjal-3260	40	22	and	and	CCONJ
cjal-3260	40	23	other	other	ADJ
cjal-3260	40	24	strategic	strategic	ADJ
cjal-3260	40	25	funds	fund	NOUN
cjal-3260	40	26	seek	seek	VERB
cjal-3260	40	27	[	[	X
cjal-3260	40	28	]	]	X
cjal-3260	40	29	to	to	PART
cjal-3260	40	30	generate	generate	VERB
cjal-3260	40	31	high	high	ADJ
cjal-3260	40	32	financial	financial	ADJ
cjal-3260	40	33	returns	return	NOUN
cjal-3260	40	34	by	by	ADP
cjal-3260	40	35	taking	take	VERB
cjal-3260	40	36	large	large	ADJ
cjal-3260	40	37	stakes	stake	NOUN
cjal-3260	40	38	in	in	ADP
cjal-3260	40	39	distressed	distressed	ADJ
cjal-3260	40	40	or	or	CCONJ
cjal-3260	40	41	undervalued	undervalued	ADJ
cjal-3260	40	42	firms	firm	NOUN
cjal-3260	40	43	.	.	PUNCT
cjal-3260	40	44	"	"	PUNCT
cjal-3260	41	1	2	2	NUM
cjal-3260	41	2	a	a	DET
cjal-3260	41	3	reasonable	reasonable	ADJ
cjal-3260	41	4	basis	basis	NOUN
cjal-3260	41	5	for	for	ADP
cjal-3260	41	6	this	this	DET
cjal-3260	41	7	concern	concern	NOUN
cjal-3260	41	8	exists	exist	VERB
cjal-3260	41	9	on	on	ADP
cjal-3260	41	10	the	the	DET
cjal-3260	41	11	part	part	NOUN
cjal-3260	41	12	of	of	ADP
cjal-3260	41	13	regulators	regulator	NOUN
cjal-3260	41	14	as	as	ADV
cjal-3260	41	15	well	well	ADV
cjal-3260	41	16	as	as	ADP
cjal-3260	41	17	incumbent	incumbent	ADJ
cjal-3260	41	18	managers	manager	NOUN
cjal-3260	41	19	though	though	SCONJ
cjal-3260	41	20	foreign	foreign	ADJ
cjal-3260	41	21	capital	capital	NOUN
cjal-3260	41	22	providers	provider	NOUN
cjal-3260	41	23	are	be	AUX
cjal-3260	41	24	subject	subject	ADJ
cjal-3260	41	25	to	to	ADP
cjal-3260	41	26	the	the	DET
cjal-3260	41	27	same	same	ADJ
cjal-3260	41	28	laws	law	NOUN
cjal-3260	41	29	and	and	CCONJ
cjal-3260	41	30	financial	financial	ADJ
cjal-3260	41	31	regulations	regulation	NOUN
cjal-3260	41	32	as	as	ADP
cjal-3260	41	33	domestic	domestic	ADJ
cjal-3260	41	34	players	player	NOUN
cjal-3260	41	35	,	,	PUNCT
cjal-3260	41	36	foreign	foreign	NOUN
cjal-3260	41	37	-	-	PUNCT
cjal-3260	41	38	based	base	VERB
cjal-3260	41	39	investors	investor	NOUN
cjal-3260	41	40	may	may	AUX
cjal-3260	41	41	not	not	PART
cjal-3260	41	42	be	be	AUX
cjal-3260	41	43	subject	subject	ADJ
cjal-3260	41	44	to	to	ADP
cjal-3260	41	45	the	the	DET
cjal-3260	41	46	same	same	ADJ
cjal-3260	41	47	social	social	ADJ
cjal-3260	41	48	constraints	constraint	NOUN
cjal-3260	41	49	,	,	PUNCT
cjal-3260	41	50	norms	norm	NOUN
cjal-3260	41	51	or	or	CCONJ
cjal-3260	41	52	networks	network	NOUN
cjal-3260	41	53	as	as	ADP
cjal-3260	41	54	domestic	domestic	ADJ
cjal-3260	41	55	firms	firm	NOUN
cjal-3260	41	56	.	.	PUNCT
cjal-3260	42	1	shareholder	shareholder	NOUN
cjal-3260	42	2	activists	activist	NOUN
cjal-3260	42	3	applaud	applaud	VERB
cjal-3260	42	4	the	the	DET
cjal-3260	42	5	"	"	PUNCT
cjal-3260	42	6	outsider	outsider	NOUN
cjal-3260	42	7	"	"	PUNCT
cjal-3260	42	8	status	status	NOUN
cjal-3260	42	9	of	of	ADP
cjal-3260	42	10	foreign	foreign	ADJ
cjal-3260	42	11	investors	investor	NOUN
cjal-3260	42	12	for	for	ADP
cjal-3260	42	13	their	their	PRON
cjal-3260	42	14	potential	potential	NOUN
cjal-3260	42	15	to	to	PART
cjal-3260	42	16	challenge	challenge	VERB
cjal-3260	42	17	entrenched	entrenched	ADJ
cjal-3260	42	18	managers	manager	NOUN
cjal-3260	42	19	and	and	CCONJ
cjal-3260	42	20	push	push	VERB
cjal-3260	42	21	for	for	ADP
cjal-3260	42	22	the	the	DET
cjal-3260	42	23	efficient	efficient	ADJ
cjal-3260	42	24	allocation	allocation	NOUN
cjal-3260	42	25	of	of	ADP
cjal-3260	42	26	capital	capital	NOUN
cjal-3260	42	27	and	and	CCONJ
cjal-3260	42	28	assets	asset	NOUN
cjal-3260	42	29	at	at	ADP
cjal-3260	42	30	the	the	DET
cjal-3260	42	31	companies	company	NOUN
cjal-3260	42	32	in	in	ADP
cjal-3260	42	33	which	which	PRON
cjal-3260	42	34	they	they	PRON
cjal-3260	42	35	invest	invest	VERB
cjal-3260	42	36	a	a	DET
cjal-3260	42	37	perspective	perspective	NOUN
cjal-3260	42	38	reflecting	reflect	VERB
cjal-3260	42	39	the	the	DET
cjal-3260	42	40	finance	finance	NOUN
cjal-3260	42	41	view	view	NOUN
cjal-3260	42	42	in	in	ADP
cjal-3260	42	43	takeover	takeover	NOUN
cjal-3260	42	44	policy	policy	NOUN
cjal-3260	42	45	,	,	PUNCT
cjal-3260	42	46	and	and	CCONJ
cjal-3260	42	47	at	at	ADP
cjal-3260	42	48	least	least	ADJ
cjal-3260	42	49	a	a	DET
cjal-3260	42	50	weak	weak	ADJ
cjal-3260	42	51	endorsement	endorsement	NOUN
cjal-3260	42	52	of	of	ADP
cjal-3260	42	53	a	a	DET
cjal-3260	42	54	western	western	ADJ
cjal-3260	42	55	-	-	PUNCT
cjal-3260	42	56	style	style	NOUN
cjal-3260	42	57	trust	trust	NOUN
cjal-3260	42	58	in	in	ADP
cjal-3260	42	59	the	the	DET
cjal-3260	42	60	"	"	PUNCT
cjal-3260	42	61	efficient	efficient	ADJ
cjal-3260	42	62	capital	capital	NOUN
cjal-3260	42	63	market	market	NOUN
cjal-3260	42	64	"	"	PUNCT
cjal-3260	42	65	hypothesis	hypothesis	NOUN
cjal-3260	42	66	.	.	PUNCT
cjal-3260	43	1	3	3	NUM
cjal-3260	43	2	domestic	domestic	ADJ
cjal-3260	43	3	policymakers	policymaker	NOUN
cjal-3260	43	4	,	,	PUNCT
cjal-3260	43	5	company	company	NOUN
cjal-3260	43	6	managers	manager	NOUN
cjal-3260	43	7	and	and	CCONJ
cjal-3260	43	8	community	community	NOUN
cjal-3260	43	9	representatives	representative	NOUN
cjal-3260	43	10	including	include	VERB
cjal-3260	43	11	labor	labor	NOUN
cjal-3260	43	12	unions	union	NOUN
cjal-3260	43	13	suspect	suspect	VERB
cjal-3260	43	14	that	that	SCONJ
cjal-3260	43	15	the	the	DET
cjal-3260	43	16	financial	financial	ADJ
cjal-3260	43	17	motivations	motivation	NOUN
cjal-3260	43	18	of	of	ADP
cjal-3260	43	19	foreign	foreign	ADJ
cjal-3260	43	20	investors	investor	NOUN
cjal-3260	43	21	may	may	AUX
cjal-3260	43	22	give	give	VERB
cjal-3260	43	23	rise	rise	NOUN
cjal-3260	43	24	to	to	ADP
cjal-3260	43	25	an	an	DET
cjal-3260	43	26	inordinately	inordinately	ADV
cjal-3260	43	27	primary	primary	ADJ
cjal-3260	43	28	concern	concern	NOUN
cjal-3260	43	29	with	with	ADP
cjal-3260	43	30	short	short	ADJ
cjal-3260	43	31	-	-	PUNCT
cjal-3260	43	32	term	term	NOUN
cjal-3260	43	33	returns	return	NOUN
cjal-3260	43	34	on	on	ADP
cjal-3260	43	35	investments	investment	NOUN
cjal-3260	43	36	at	at	ADP
cjal-3260	43	37	the	the	DET
cjal-3260	43	38	expense	expense	NOUN
cjal-3260	43	39	of	of	ADP
cjal-3260	43	40	other	other	ADJ
cjal-3260	43	41	stakeholders	stakeholder	NOUN
cjal-3260	43	42	'	'	PART
cjal-3260	43	43	interests	interest	NOUN
cjal-3260	43	44	in	in	ADP
cjal-3260	43	45	the	the	DET
cjal-3260	43	46	corporate	corporate	ADJ
cjal-3260	43	47	enterprise	enterprise	NOUN
cjal-3260	43	48	.	.	PUNCT
cjal-3260	44	1	the	the	DET
cjal-3260	44	2	institutional	institutional	ADJ
cjal-3260	44	3	view	view	NOUN
cjal-3260	44	4	for	for	ADP
cjal-3260	44	5	takeover	takeover	NOUN
cjal-3260	44	6	policy	policy	NOUN
cjal-3260	44	7	is	be	AUX
cjal-3260	44	8	a	a	DET
cjal-3260	44	9	more	more	ADV
cjal-3260	44	10	appropriate	appropriate	ADJ
cjal-3260	44	11	fit	fit	NOUN
cjal-3260	44	12	for	for	ADP
cjal-3260	44	13	non	non	ADJ
cjal-3260	44	14	-	-	ADJ
cjal-3260	44	15	shareholder	shareholder	ADJ
cjal-3260	44	16	constituencies	constituency	NOUN
cjal-3260	44	17	4	4	NUM
cjal-3260	44	18	and	and	CCONJ
cjal-3260	44	19	supports	support	VERB
cjal-3260	44	20	the	the	DET
cjal-3260	44	21	current	current	ADJ
cjal-3260	44	22	push	push	NOUN
cjal-3260	44	23	to	to	PART
cjal-3260	44	24	enhance	enhance	VERB
cjal-3260	44	25	anti	anti	ADJ
cjal-3260	44	26	-	-	ADJ
cjal-3260	44	27	takeover	takeover	ADJ
cjal-3260	44	28	protections	protection	NOUN
cjal-3260	44	29	,	,	PUNCT
cjal-3260	44	30	especially	especially	ADV
cjal-3260	44	31	among	among	ADP
cjal-3260	44	32	national	national	ADJ
cjal-3260	44	33	champion	champion	NOUN
cjal-3260	44	34	companies	company	NOUN
cjal-3260	44	35	.	.	PUNCT
cjal-3260	45	1	2	2	NUM
cjal-3260	45	2	curtis	curtis	PROPN
cjal-3260	45	3	j.	j.	PROPN
cjal-3260	45	4	milhaupt	milhaupt	PROPN
cjal-3260	45	5	,	,	PUNCT
cjal-3260	45	6	in	in	ADP
cjal-3260	45	7	the	the	DET
cjal-3260	45	8	shadow	shadow	NOUN
cjal-3260	45	9	of	of	ADP
cjal-3260	45	10	delaware	delaware	PROPN
cjal-3260	45	11	?	?	PUNCT
cjal-3260	46	1	the	the	DET
cjal-3260	46	2	rise	rise	NOUN
cjal-3260	46	3	of	of	ADP
cjal-3260	46	4	hostile	hostile	ADJ
cjal-3260	46	5	takeovers	takeover	NOUN
cjal-3260	46	6	in	in	ADP
cjal-3260	46	7	japan	japan	PROPN
cjal-3260	46	8	,	,	PUNCT
cjal-3260	46	9	105	105	NUM
cjal-3260	46	10	colum	colum	NOUN
cjal-3260	46	11	.	.	PUNCT
cjal-3260	47	1	l.	l.	PROPN
cjal-3260	47	2	rev	rev	PROPN
cjal-3260	47	3	.	.	PROPN
cjal-3260	47	4	2171	2171	NUM
cjal-3260	47	5	,	,	PUNCT
cjal-3260	47	6	2181	2181	NUM
cjal-3260	47	7	(	(	PUNCT
cjal-3260	47	8	2005	2005	NUM
cjal-3260	47	9	)	)	PUNCT
cjal-3260	47	10	.	.	PUNCT
cjal-3260	48	1	3	3	NUM
cjal-3260	48	2	william	william	PROPN
cjal-3260	48	3	t.	t.	PROPN
cjal-3260	48	4	allen	allen	PROPN
cjal-3260	48	5	,	,	PUNCT
cjal-3260	48	6	former	former	ADJ
cjal-3260	48	7	chancellor	chancellor	PROPN
cjal-3260	48	8	of	of	ADP
cjal-3260	48	9	delaware	delaware	PROPN
cjal-3260	48	10	's	's	PART
cjal-3260	48	11	court	court	NOUN
cjal-3260	48	12	of	of	ADP
cjal-3260	48	13	chancery	chancery	NOUN
cjal-3260	48	14	,	,	PUNCT
cjal-3260	48	15	and	and	CCONJ
cjal-3260	48	16	judge	judge	PROPN
cjal-3260	48	17	leo	leo	PROPN
cjal-3260	48	18	strine	strine	PROPN
cjal-3260	48	19	,	,	PUNCT
cjal-3260	48	20	jr	jr	PROPN
cjal-3260	48	21	.	.	PUNCT
cjal-3260	48	22	use	use	VERB
cjal-3260	48	23	the	the	DET
cjal-3260	48	24	terms	term	NOUN
cjal-3260	48	25	"	"	PUNCT
cjal-3260	48	26	finance	finance	NOUN
cjal-3260	48	27	view	view	NOUN
cjal-3260	48	28	"	"	PUNCT
cjal-3260	48	29	and	and	CCONJ
cjal-3260	48	30	"	"	PUNCT
cjal-3260	48	31	institutional	institutional	ADJ
cjal-3260	48	32	view	view	NOUN
cjal-3260	48	33	"	"	PUNCT
cjal-3260	48	34	to	to	PART
cjal-3260	48	35	describe	describe	VERB
cjal-3260	48	36	the	the	DET
cjal-3260	48	37	two	two	NUM
cjal-3260	48	38	opposing	opposing	ADJ
cjal-3260	48	39	perspectives	perspective	NOUN
cjal-3260	48	40	on	on	ADP
cjal-3260	48	41	takeover	takeover	NOUN
cjal-3260	48	42	policy	policy	NOUN
cjal-3260	48	43	in	in	ADP
cjal-3260	48	44	the	the	DET
cjal-3260	48	45	u.s	u.s	PROPN
cjal-3260	48	46	.	.	PROPN
cjal-3260	48	47	and	and	CCONJ
cjal-3260	48	48	delaware	delaware	PROPN
cjal-3260	48	49	courts	court	NOUN
cjal-3260	48	50	.	.	PUNCT
cjal-3260	49	1	the	the	DET
cjal-3260	49	2	finance	finance	NOUN
cjal-3260	49	3	view	view	NOUN
cjal-3260	49	4	gives	give	VERB
cjal-3260	49	5	the	the	DET
cjal-3260	49	6	authority	authority	NOUN
cjal-3260	49	7	to	to	PART
cjal-3260	49	8	decide	decide	VERB
cjal-3260	49	9	whether	whether	SCONJ
cjal-3260	49	10	to	to	PART
cjal-3260	49	11	accept	accept	VERB
cjal-3260	49	12	an	an	DET
cjal-3260	49	13	unsolicited	unsolicited	ADJ
cjal-3260	49	14	buyout	buyout	NOUN
cjal-3260	49	15	offer	offer	NOUN
cjal-3260	49	16	for	for	ADP
cjal-3260	49	17	a	a	DET
cjal-3260	49	18	company	company	NOUN
cjal-3260	49	19	to	to	ADP
cjal-3260	49	20	the	the	DET
cjal-3260	49	21	shareholders	shareholder	NOUN
cjal-3260	49	22	.	.	PUNCT
cjal-3260	50	1	see	see	VERB
cjal-3260	50	2	william	william	PROPN
cjal-3260	50	3	t.	t.	PROPN
cjal-3260	50	4	allen	allen	PROPN
cjal-3260	50	5	&	&	CCONJ
cjal-3260	50	6	leo	leo	PROPN
cjal-3260	50	7	e.	e.	PROPN
cjal-3260	50	8	strine	strine	PROPN
cjal-3260	50	9	,	,	PUNCT
cjal-3260	50	10	jr	jr	PROPN
cjal-3260	50	11	.	.	PROPN
cjal-3260	50	12	,	,	PUNCT
cjal-3260	50	13	when	when	SCONJ
cjal-3260	50	14	the	the	DET
cjal-3260	50	15	existing	exist	VERB
cjal-3260	50	16	economic	economic	ADJ
cjal-3260	50	17	order	order	NOUN
cjal-3260	50	18	deserves	deserve	VERB
cjal-3260	50	19	a	a	DET
cjal-3260	50	20	champion	champion	NOUN
cjal-3260	50	21	:	:	PUNCT
cjal-3260	50	22	the	the	DET
cjal-3260	50	23	enduring	endure	VERB
cjal-3260	50	24	relevance	relevance	NOUN
cjal-3260	50	25	of	of	ADP
cjal-3260	50	26	martin	martin	PROPN
cjal-3260	50	27	lipton	lipton	PROPN
cjal-3260	50	28	's	's	PART
cjal-3260	50	29	vision	vision	NOUN
cjal-3260	50	30	of	of	ADP
cjal-3260	50	31	the	the	DET
cjal-3260	50	32	corporate	corporate	ADJ
cjal-3260	50	33	law	law	NOUN
cjal-3260	50	34	,	,	PUNCT
cjal-3260	50	35	60	60	NUM
cjal-3260	50	36	bus	bus	NOUN
cjal-3260	50	37	.	.	PUNCT
cjal-3260	51	1	law	law	NOUN
cjal-3260	51	2	.	.	PUNCT
cjal-3260	52	1	1383	1383	NUM
cjal-3260	52	2	(	(	PUNCT
cjal-3260	52	3	2005	2005	NUM
cjal-3260	52	4	)	)	PUNCT
cjal-3260	52	5	.	.	PUNCT
cjal-3260	53	1	consistent	consistent	ADJ
cjal-3260	53	2	with	with	ADP
cjal-3260	53	3	the	the	DET
cjal-3260	53	4	finance	finance	NOUN
cjal-3260	53	5	view	view	NOUN
cjal-3260	53	6	,	,	PUNCT
cjal-3260	53	7	modem	modem	NOUN
cjal-3260	53	8	advocates	advocate	NOUN
cjal-3260	53	9	of	of	ADP
cjal-3260	53	10	a	a	DET
cjal-3260	53	11	direct	direct	ADJ
cjal-3260	53	12	or	or	CCONJ
cjal-3260	53	13	stronger	strong	ADJ
cjal-3260	53	14	role	role	NOUN
cjal-3260	53	15	for	for	ADP
cjal-3260	53	16	shareholders	shareholder	NOUN
cjal-3260	53	17	in	in	ADP
cjal-3260	53	18	corporate	corporate	ADJ
cjal-3260	53	19	control	control	NOUN
cjal-3260	53	20	contests	contest	NOUN
cjal-3260	53	21	are	be	AUX
cjal-3260	53	22	predicated	predicate	VERB
cjal-3260	53	23	on	on	ADP
cjal-3260	53	24	the	the	DET
cjal-3260	53	25	power	power	NOUN
cjal-3260	53	26	of	of	ADP
cjal-3260	53	27	shareholders	shareholder	NOUN
cjal-3260	53	28	to	to	PART
cjal-3260	53	29	replace	replace	VERB
cjal-3260	53	30	the	the	DET
cjal-3260	53	31	board	board	NOUN
cjal-3260	53	32	as	as	ADP
cjal-3260	53	33	a	a	DET
cjal-3260	53	34	central	central	ADJ
cjal-3260	53	35	tenet	tenet	NOUN
cjal-3260	53	36	of	of	ADP
cjal-3260	53	37	the	the	DET
cjal-3260	53	38	public	public	ADJ
cjal-3260	53	39	corporation	corporation	NOUN
cjal-3260	53	40	,	,	PUNCT
cjal-3260	53	41	requiring	require	VERB
cjal-3260	53	42	strict	strict	ADJ
cjal-3260	53	43	legal	legal	ADJ
cjal-3260	53	44	rules	rule	NOUN
cjal-3260	53	45	and	and	CCONJ
cjal-3260	53	46	exposure	exposure	NOUN
cjal-3260	53	47	of	of	ADP
cjal-3260	53	48	the	the	DET
cjal-3260	53	49	board	board	NOUN
cjal-3260	53	50	to	to	ADP
cjal-3260	53	51	a	a	DET
cjal-3260	53	52	real	real	ADJ
cjal-3260	53	53	risk	risk	NOUN
cjal-3260	53	54	of	of	ADP
cjal-3260	53	55	replacement	replacement	NOUN
cjal-3260	53	56	by	by	ADP
cjal-3260	53	57	dissatisfied	dissatisfied	ADJ
cjal-3260	53	58	shareholders	shareholder	NOUN
cjal-3260	53	59	to	to	PART
cjal-3260	53	60	set	set	VERB
cjal-3260	53	61	up	up	ADP
cjal-3260	53	62	proper	proper	ADJ
cjal-3260	53	63	incentives	incentive	NOUN
cjal-3260	53	64	for	for	ADP
cjal-3260	53	65	an	an	DET
cjal-3260	53	66	effective	effective	ADJ
cjal-3260	53	67	board	board	NOUN
cjal-3260	53	68	.	.	PUNCT
cjal-3260	54	1	see	see	VERB
cjal-3260	54	2	lucian	lucian	PROPN
cjal-3260	54	3	a.	a.	PROPN
cjal-3260	54	4	bebchuk	bebchuk	PROPN
cjal-3260	54	5	,	,	PUNCT
cjal-3260	54	6	the	the	DET
cjal-3260	54	7	myth	myth	NOUN
cjal-3260	54	8	of	of	ADP
cjal-3260	54	9	the	the	DET
cjal-3260	54	10	shareholder	shareholder	NOUN
cjal-3260	54	11	franchise	franchise	NOUN
cjal-3260	54	12	,	,	PUNCT
cjal-3260	54	13	93	93	NUM
cjal-3260	54	14	va	va	NOUN
cjal-3260	54	15	.	.	PUNCT
cjal-3260	55	1	l.	l.	PROPN
cjal-3260	55	2	rev	rev	PROPN
cjal-3260	55	3	.	.	PUNCT
cjal-3260	56	1	(	(	PUNCT
cjal-3260	56	2	forthcoming	forthcoming	ADJ
cjal-3260	56	3	may	may	PROPN
cjal-3260	56	4	2007	2007	NUM
cjal-3260	56	5	)	)	PUNCT
cjal-3260	56	6	,	,	PUNCT
cjal-3260	56	7	available	available	ADJ
cjal-3260	56	8	at	at	ADP
cjal-3260	56	9	http://ssm.com/abstract=829804	http://ssm.com/abstract=829804	PROPN
cjal-3260	56	10	(	(	PUNCT
cjal-3260	56	11	last	last	ADJ
cjal-3260	56	12	visited	visit	VERB
cjal-3260	56	13	may	may	PROPN
cjal-3260	56	14	9	9	NUM
cjal-3260	56	15	,	,	PUNCT
cjal-3260	56	16	2007	2007	NUM
cjal-3260	56	17	)	)	PUNCT
cjal-3260	56	18	.	.	PUNCT
cjal-3260	57	1	4	4	NUM
cjal-3260	58	1	the	the	DET
cjal-3260	58	2	institutional	institutional	ADJ
cjal-3260	58	3	view	view	NOUN
cjal-3260	58	4	gives	give	VERB
cjal-3260	58	5	authority	authority	NOUN
cjal-3260	58	6	for	for	ADP
cjal-3260	58	7	the	the	DET
cjal-3260	58	8	ultimate	ultimate	ADJ
cjal-3260	58	9	decision	decision	NOUN
cjal-3260	58	10	in	in	ADP
cjal-3260	58	11	response	response	NOUN
cjal-3260	58	12	to	to	ADP
cjal-3260	58	13	a	a	DET
cjal-3260	58	14	buyout	buyout	NOUN
cjal-3260	58	15	offer	offer	NOUN
cjal-3260	58	16	to	to	ADP
cjal-3260	58	17	the	the	DET
cjal-3260	58	18	board	board	NOUN
cjal-3260	58	19	of	of	ADP
cjal-3260	58	20	directors	director	NOUN
cjal-3260	58	21	,	,	PUNCT
cjal-3260	58	22	presumed	presume	VERB
cjal-3260	58	23	to	to	PART
cjal-3260	58	24	act	act	VERB
cjal-3260	58	25	on	on	ADP
cjal-3260	58	26	shareholders	shareholder	NOUN
cjal-3260	58	27	'	'	PART
cjal-3260	58	28	behalf	behalf	NOUN
cjal-3260	58	29	and	and	CCONJ
cjal-3260	58	30	trusted	trust	VERB
cjal-3260	58	31	to	to	PART
cjal-3260	58	32	make	make	VERB
cjal-3260	58	33	correct	correct	ADJ
cjal-3260	58	34	long	long	ADJ
cjal-3260	58	35	-	-	PUNCT
cjal-3260	58	36	term	term	NOUN
cjal-3260	58	37	decisions	decision	NOUN
cjal-3260	58	38	,	,	PUNCT
cjal-3260	58	39	or	or	CCONJ
cjal-3260	58	40	at	at	ADP
cjal-3260	58	41	least	least	ADJ
cjal-3260	58	42	negotiate	negotiate	VERB
cjal-3260	58	43	the	the	DET
cjal-3260	58	44	best	good	ADJ
cjal-3260	58	45	price	price	NOUN
cjal-3260	58	46	and	and	CCONJ
cjal-3260	58	47	terms	term	NOUN
cjal-3260	58	48	for	for	ADP
cjal-3260	58	49	the	the	DET
cjal-3260	58	50	company	company	NOUN
cjal-3260	58	51	's	's	PART
cjal-3260	58	52	benefit	benefit	NOUN
cjal-3260	58	53	in	in	ADP
cjal-3260	58	54	the	the	DET
cjal-3260	58	55	event	event	NOUN
cjal-3260	58	56	of	of	ADP
cjal-3260	58	57	a	a	DET
cjal-3260	58	58	buyout	buyout	NOUN
cjal-3260	58	59	.	.	PUNCT
cjal-3260	59	1	while	while	SCONJ
cjal-3260	59	2	shareholder	shareholder	NOUN
cjal-3260	59	3	empowerment	empowerment	NOUN
cjal-3260	59	4	advocates	advocate	NOUN
cjal-3260	59	5	reject	reject	VERB
cjal-3260	59	6	the	the	DET
cjal-3260	59	7	institutional	institutional	ADJ
cjal-3260	59	8	view	view	NOUN
cjal-3260	59	9	as	as	ADP
cjal-3260	59	10	inefficient	inefficient	ADJ
cjal-3260	59	11	and	and	CCONJ
cjal-3260	59	12	conflict	conflict	NOUN
cjal-3260	59	13	-	-	PUNCT
cjal-3260	59	14	ridden	ride	VERB
cjal-3260	59	15	due	due	ADP
cjal-3260	59	16	to	to	ADP
cjal-3260	59	17	the	the	DET
cjal-3260	59	18	board	board	NOUN
cjal-3260	59	19	members	member	NOUN
cjal-3260	59	20	'	'	PART
cjal-3260	59	21	self	self	NOUN
cjal-3260	59	22	-	-	PUNCT
cjal-3260	59	23	interest	interest	NOUN
cjal-3260	59	24	in	in	ADP
cjal-3260	59	25	keeping	keep	VERB
cjal-3260	59	26	their	their	PRON
cjal-3260	59	27	own	own	ADJ
cjal-3260	59	28	jobs	job	NOUN
cjal-3260	59	29	,	,	PUNCT
cjal-3260	59	30	the	the	DET
cjal-3260	59	31	institutional	institutional	ADJ
cjal-3260	59	32	view	view	NOUN
cjal-3260	59	33	looks	look	VERB
cjal-3260	59	34	to	to	ADP
cjal-3260	59	35	the	the	DET
cjal-3260	59	36	board	board	NOUN
cjal-3260	59	37	of	of	ADP
cjal-3260	59	38	directors	director	NOUN
cjal-3260	59	39	to	to	PART
cjal-3260	59	40	decide	decide	VERB
cjal-3260	59	41	whether	whether	SCONJ
cjal-3260	59	42	a	a	DET
cjal-3260	59	43	company	company	NOUN
cjal-3260	59	44	is	be	AUX
cjal-3260	59	45	for	for	ADP
cjal-3260	59	46	sale	sale	NOUN
cjal-3260	59	47	.	.	PUNCT
cjal-3260	60	1	see	see	VERB
cjal-3260	60	2	allen	allen	PROPN
cjal-3260	60	3	and	and	CCONJ
cjal-3260	60	4	strine	strine	PROPN
cjal-3260	60	5	,	,	PUNCT
cjal-3260	60	6	supra	supra	PROPN
cjal-3260	60	7	note	note	NOUN
cjal-3260	60	8	3	3	X
cjal-3260	60	9	.	.	PUNCT
cjal-3260	61	1	this	this	DET
cjal-3260	61	2	institutional	institutional	ADJ
cjal-3260	61	3	view	view	NOUN
cjal-3260	61	4	emphasizes	emphasize	VERB
cjal-3260	61	5	management	management	NOUN
cjal-3260	61	6	consistency	consistency	NOUN
cjal-3260	61	7	and	and	CCONJ
cjal-3260	61	8	job	job	NOUN
cjal-3260	61	9	security	security	NOUN
cjal-3260	61	10	as	as	ADP
cjal-3260	61	11	preconditions	precondition	NOUN
cjal-3260	61	12	for	for	ADP
cjal-3260	61	13	long	long	ADJ
cjal-3260	61	14	-	-	PUNCT
cjal-3260	61	15	term	term	NOUN
cjal-3260	61	16	company	company	NOUN
cjal-3260	61	17	success	success	NOUN
cjal-3260	61	18	.	.	PUNCT
cjal-3260	62	1	see	see	VERB
cjal-3260	62	2	stephen	stephen	PROPN
cjal-3260	62	3	m.	m.	PROPN
cjal-3260	62	4	bainbridge	bainbridge	PROPN
cjal-3260	62	5	,	,	PUNCT
cjal-3260	62	6	response	response	NOUN
cjal-3260	62	7	to	to	ADP
cjal-3260	62	8	increasing	increase	VERB
cjal-3260	62	9	shareholder	shareholder	NOUN
cjal-3260	62	10	power	power	NOUN
cjal-3260	62	11	:	:	PUNCT
cjal-3260	62	12	director	director	NOUN
cjal-3260	62	13	primacy	primacy	NOUN
cjal-3260	62	14	and	and	CCONJ
cjal-3260	62	15	shareholder	shareholder	NOUN
cjal-3260	62	16	disempowerment	disempowerment	NOUN
cjal-3260	62	17	,	,	PUNCT
cjal-3260	62	18	119	119	NUM
cjal-3260	62	19	harv	harv	NOUN
cjal-3260	62	20	.	.	PUNCT
cjal-3260	63	1	l.	l.	PROPN
cjal-3260	63	2	rev	rev	PROPN
cjal-3260	63	3	.	.	PROPN
cjal-3260	63	4	1735	1735	NUM
cjal-3260	63	5	,	,	PUNCT
cjal-3260	63	6	1749	1749	NUM
cjal-3260	63	7	(	(	PUNCT
cjal-3260	63	8	2006	2006	NUM
cjal-3260	63	9	)	)	PUNCT
cjal-3260	63	10	.	.	PUNCT
cjal-3260	64	1	(	(	PUNCT
cjal-3260	64	2	"	"	PUNCT
cjal-3260	64	3	active	active	ADJ
cjal-3260	64	4	investor	investor	NOUN
cjal-3260	64	5	involvement	involvement	NOUN
cjal-3260	64	6	in	in	ADP
cjal-3260	64	7	corporate	corporate	ADJ
cjal-3260	64	8	decision	decision	NOUN
cjal-3260	64	9	making	making	NOUN
cjal-3260	64	10	seems	seem	VERB
cjal-3260	64	11	likely	likely	ADJ
cjal-3260	64	12	to	to	PART
cjal-3260	64	13	disrupt	disrupt	VERB
cjal-3260	64	14	the	the	DET
cjal-3260	64	15	very	very	ADJ
cjal-3260	64	16	mechanism	mechanism	NOUN
cjal-3260	64	17	that	that	PRON
cjal-3260	64	18	makes	make	VERB
cjal-3260	64	19	the	the	DET
cjal-3260	64	20	widely	widely	ADV
cjal-3260	64	21	held	hold	VERB
cjal-3260	64	22	public	public	ADJ
cjal-3260	64	23	corporation	corporation	NOUN
cjal-3260	64	24	practicable	practicable	ADJ
cjal-3260	64	25	:	:	PUNCT
cjal-3260	64	26	namely	namely	ADV
cjal-3260	64	27	,	,	PUNCT
cjal-3260	64	28	the	the	DET
cjal-3260	64	29	[	[	X
cjal-3260	64	30	20:2	20:2	NUM
cjal-3260	64	31	2007	2007	NUM
cjal-3260	64	32	]	]	X
cjal-3260	64	33	national	national	ADJ
cjal-3260	64	34	m1arkets	m1arkets	PROPN
cjal-3260	64	35	,	,	PUNCT
cjal-3260	64	36	new	new	ADJ
cjal-3260	64	37	defenses	defense	NOUN
cjal-3260	64	38	contributing	contribute	VERB
cjal-3260	64	39	to	to	ADP
cjal-3260	64	40	suspicion	suspicion	NOUN
cjal-3260	64	41	of	of	ADP
cjal-3260	64	42	foreign	foreign	ADJ
cjal-3260	64	43	capital	capital	NOUN
cjal-3260	64	44	among	among	ADP
cjal-3260	64	45	domestic	domestic	ADJ
cjal-3260	64	46	constituencies	constituency	NOUN
cjal-3260	64	47	is	be	AUX
cjal-3260	64	48	a	a	DET
cjal-3260	64	49	presumption	presumption	NOUN
cjal-3260	64	50	,	,	PUNCT
cjal-3260	64	51	often	often	ADV
cjal-3260	64	52	correct	correct	ADJ
cjal-3260	64	53	,	,	PUNCT
cjal-3260	64	54	that	that	SCONJ
cjal-3260	64	55	foreign	foreign	ADJ
cjal-3260	64	56	investors	investor	NOUN
cjal-3260	64	57	have	have	VERB
cjal-3260	64	58	experience	experience	NOUN
cjal-3260	64	59	with	with	ADP
cjal-3260	64	60	"	"	PUNCT
cjal-3260	64	61	hostile	hostile	ADJ
cjal-3260	64	62	"	"	PUNCT
cjal-3260	64	63	corporate	corporate	ADJ
cjal-3260	64	64	control	control	NOUN
cjal-3260	64	65	maneuvers	maneuver	NOUN
cjal-3260	64	66	.	.	PUNCT
cjal-3260	65	1	recent	recent	ADJ
cjal-3260	65	2	experience	experience	NOUN
cjal-3260	65	3	in	in	ADP
cjal-3260	65	4	korea	korea	PROPN
cjal-3260	65	5	confirms	confirm	VERB
cjal-3260	65	6	that	that	SCONJ
cjal-3260	65	7	foreign	foreign	ADJ
cjal-3260	65	8	investment	investment	NOUN
cjal-3260	65	9	funds	fund	NOUN
cjal-3260	65	10	are	be	AUX
cjal-3260	65	11	willing	willing	ADJ
cjal-3260	65	12	and	and	CCONJ
cjal-3260	65	13	able	able	ADJ
cjal-3260	65	14	to	to	PART
cjal-3260	65	15	bring	bring	VERB
cjal-3260	65	16	litigation	litigation	NOUN
cjal-3260	65	17	and	and	CCONJ
cjal-3260	65	18	shareholder	shareholder	NOUN
cjal-3260	65	19	proposals	proposal	NOUN
cjal-3260	65	20	to	to	PART
cjal-3260	65	21	challenge	challenge	VERB
cjal-3260	65	22	management	management	NOUN
cjal-3260	65	23	teams	team	NOUN
cjal-3260	65	24	that	that	PRON
cjal-3260	65	25	reject	reject	VERB
cjal-3260	65	26	shareholders	shareholder	NOUN
cjal-3260	65	27	'	'	PART
cjal-3260	65	28	agendas	agenda	NOUN
cjal-3260	65	29	for	for	ADP
cjal-3260	65	30	company	company	NOUN
cjal-3260	65	31	change.5	change.5	NOUN
cjal-3260	65	32	in	in	ADP
cjal-3260	65	33	recent	recent	ADJ
cjal-3260	65	34	hostile	hostile	ADJ
cjal-3260	65	35	contests	contest	NOUN
cjal-3260	65	36	for	for	ADP
cjal-3260	65	37	ufj	ufj	NOUN
cjal-3260	65	38	and	and	CCONJ
cjal-3260	65	39	nippon	nippon	PROPN
cjal-3260	65	40	broadcasting	broadcasting	NOUN
cjal-3260	65	41	in	in	ADP
cjal-3260	65	42	japan	japan	PROPN
cjal-3260	65	43	,	,	PUNCT
cjal-3260	65	44	"	"	PUNCT
cjal-3260	65	45	the	the	DET
cjal-3260	65	46	market	market	NOUN
cjal-3260	65	47	players	player	NOUN
cjal-3260	65	48	.	.	PUNCT
cjal-3260	66	1	..	..	PUNCT
cjal-3260	66	2	used	use	VERB
cjal-3260	66	3	previously	previously	ADV
cjal-3260	66	4	unheard	unheard	ADJ
cjal-3260	66	5	-	-	PUNCT
cjal-3260	66	6	of	of	ADP
cjal-3260	66	7	tactics	tactic	NOUN
cjal-3260	66	8	to	to	PART
cjal-3260	66	9	achieve	achieve	VERB
cjal-3260	66	10	their	their	PRON
cjal-3260	66	11	objectives	objective	NOUN
cjal-3260	66	12	,	,	PUNCT
cjal-3260	66	13	"	"	PUNCT
cjal-3260	66	14	including	include	VERB
cjal-3260	66	15	a	a	DET
cjal-3260	66	16	proxy	proxy	NOUN
cjal-3260	66	17	fight	fight	NOUN
cjal-3260	66	18	,	,	PUNCT
cjal-3260	66	19	a	a	DET
cjal-3260	66	20	"	"	PUNCT
cjal-3260	66	21	bear	bear	NOUN
cjal-3260	66	22	hug	hug	NOUN
cjal-3260	66	23	,	,	PUNCT
cjal-3260	66	24	"	"	PUNCT
cjal-3260	66	25	and	and	CCONJ
cjal-3260	66	26	an	an	DET
cjal-3260	66	27	unsolicited	unsolicited	ADJ
cjal-3260	66	28	bid	bid	NOUN
cjal-3260	66	29	,	,	PUNCT
cjal-3260	66	30	in	in	ADP
cjal-3260	66	31	addition	addition	NOUN
cjal-3260	66	32	to	to	ADP
cjal-3260	66	33	"	"	PUNCT
cjal-3260	66	34	the	the	DET
cjal-3260	66	35	strategic	strategic	ADJ
cjal-3260	66	36	use	use	NOUN
cjal-3260	66	37	of	of	ADP
cjal-3260	66	38	litigation	litigation	NOUN
cjal-3260	66	39	.	.	PUNCT
cjal-3260	66	40	"	"	PUNCT
cjal-3260	67	1	6	6	NUM
cjal-3260	67	2	asian	asian	ADV
cjal-3260	67	3	-	-	PUNCT
cjal-3260	67	4	based	base	VERB
cjal-3260	67	5	companies	company	NOUN
cjal-3260	67	6	and	and	CCONJ
cjal-3260	67	7	funds	fund	NOUN
cjal-3260	67	8	investing	invest	VERB
cjal-3260	67	9	globally	globally	ADV
cjal-3260	67	10	meet	meet	VERB
cjal-3260	67	11	a	a	DET
cjal-3260	67	12	vast	vast	ADJ
cjal-3260	67	13	array	array	NOUN
cjal-3260	67	14	of	of	ADP
cjal-3260	67	15	protective	protective	ADJ
cjal-3260	67	16	measures	measure	NOUN
cjal-3260	67	17	abroad	abroad	ADV
cjal-3260	67	18	,	,	PUNCT
cjal-3260	67	19	from	from	ADP
cjal-3260	67	20	poison	poison	NOUN
cjal-3260	67	21	pills	pill	NOUN
cjal-3260	67	22	and	and	CCONJ
cjal-3260	67	23	staggered	staggered	ADJ
cjal-3260	67	24	boards	board	NOUN
cjal-3260	67	25	,	,	PUNCT
cjal-3260	67	26	a	a	DET
cjal-3260	67	27	combination	combination	NOUN
cjal-3260	67	28	of	of	ADP
cjal-3260	67	29	which	which	PRON
cjal-3260	67	30	is	be	AUX
cjal-3260	67	31	an	an	DET
cjal-3260	67	32	almost	almost	ADV
cjal-3260	67	33	complete	complete	ADJ
cjal-3260	67	34	defense	defense	NOUN
cjal-3260	67	35	against	against	ADP
cjal-3260	67	36	takeover	takeover	NOUN
cjal-3260	67	37	7	7	NUM
cjal-3260	67	38	,	,	PUNCT
cjal-3260	67	39	to	to	ADP
cjal-3260	67	40	dual	dual	ADJ
cjal-3260	67	41	-	-	PUNCT
cjal-3260	67	42	class	class	NOUN
cjal-3260	67	43	voting	voting	NOUN
cjal-3260	67	44	stock	stock	NOUN
cjal-3260	67	45	,	,	PUNCT
cjal-3260	67	46	foreign	foreign	ADJ
cjal-3260	67	47	investment	investment	NOUN
cjal-3260	67	48	review	review	NOUN
cjal-3260	67	49	panels	panel	NOUN
cjal-3260	67	50	and	and	CCONJ
cjal-3260	67	51	the	the	DET
cjal-3260	67	52	familiar	familiar	ADJ
cjal-3260	67	53	structures	structure	NOUN
cjal-3260	67	54	of	of	ADP
cjal-3260	67	55	pyramids	pyramid	NOUN
cjal-3260	67	56	and	and	CCONJ
cjal-3260	67	57	cross	cross	NOUN
cjal-3260	67	58	-	-	NOUN
cjal-3260	67	59	listings	listing	NOUN
cjal-3260	67	60	that	that	PRON
cjal-3260	67	61	board	board	NOUN
cjal-3260	67	62	members	member	NOUN
cjal-3260	67	63	use	use	VERB
cjal-3260	67	64	to	to	PART
cjal-3260	67	65	secure	secure	VERB
cjal-3260	67	66	control	control	NOUN
cjal-3260	67	67	at	at	ADP
cjal-3260	67	68	home	home	NOUN
cjal-3260	67	69	in	in	ADP
cjal-3260	67	70	east	east	PROPN
cjal-3260	67	71	asia	asia	PROPN
cjal-3260	67	72	.	.	PUNCT
cjal-3260	68	1	8	8	NUM
cjal-3260	69	1	it	it	PRON
cjal-3260	69	2	is	be	AUX
cjal-3260	69	3	no	no	DET
cjal-3260	69	4	surprise	surprise	NOUN
cjal-3260	69	5	,	,	PUNCT
cjal-3260	69	6	centralization	centralization	NOUN
cjal-3260	69	7	of	of	ADP
cjal-3260	69	8	essentially	essentially	ADV
cjal-3260	69	9	nonreviewable	nonreviewable	ADJ
cjal-3260	69	10	decision	decision	NOUN
cjal-3260	69	11	making	make	VERB
cjal-3260	69	12	authority	authority	NOUN
cjal-3260	69	13	in	in	ADP
cjal-3260	69	14	the	the	DET
cjal-3260	69	15	board	board	NOUN
cjal-3260	69	16	of	of	ADP
cjal-3260	69	17	directors	director	NOUN
cjal-3260	69	18	.	.	PUNCT
cjal-3260	70	1	the	the	DET
cjal-3260	70	2	chief	chief	ADJ
cjal-3260	70	3	economic	economic	ADJ
cjal-3260	70	4	virtue	virtue	NOUN
cjal-3260	70	5	of	of	ADP
cjal-3260	70	6	the	the	DET
cjal-3260	70	7	public	public	ADJ
cjal-3260	70	8	corporation	corporation	NOUN
cjal-3260	70	9	is	be	AUX
cjal-3260	70	10	...	...	PUNCT
cjal-3260	70	11	that	that	SCONJ
cjal-3260	70	12	it	it	PRON
cjal-3260	70	13	provides	provide	VERB
cjal-3260	70	14	a	a	DET
cjal-3260	70	15	hierarchical	hierarchical	ADJ
cjal-3260	70	16	decision	decision	NOUN
cjal-3260	70	17	making	make	VERB
cjal-3260	70	18	structure	structure	NOUN
cjal-3260	70	19	well	well	ADV
cjal-3260	70	20	-	-	PUNCT
cjal-3260	70	21	suited	suit	VERB
cjal-3260	70	22	to	to	ADP
cjal-3260	70	23	the	the	DET
cjal-3260	70	24	problem	problem	NOUN
cjal-3260	70	25	of	of	ADP
cjal-3260	70	26	operating	operate	VERB
cjal-3260	70	27	a	a	DET
cjal-3260	70	28	large	large	ADJ
cjal-3260	70	29	business	business	NOUN
cjal-3260	70	30	enterprise	enterprise	NOUN
cjal-3260	70	31	[	[	X
cjal-3260	70	32	.	.	X
cjal-3260	70	33	]	]	X
cjal-3260	70	34	"	"	PUNCT
cjal-3260	70	35	)	)	PUNCT
cjal-3260	70	36	another	another	DET
cjal-3260	70	37	description	description	NOUN
cjal-3260	70	38	of	of	ADP
cjal-3260	70	39	this	this	DET
cjal-3260	70	40	view	view	NOUN
cjal-3260	70	41	,	,	PUNCT
cjal-3260	70	42	at	at	ADP
cjal-3260	70	43	least	least	ADJ
cjal-3260	70	44	to	to	ADP
cjal-3260	70	45	the	the	DET
cjal-3260	70	46	extent	extent	NOUN
cjal-3260	70	47	that	that	SCONJ
cjal-3260	70	48	it	it	PRON
cjal-3260	70	49	affects	affect	VERB
cjal-3260	70	50	takeover	takeover	NOUN
cjal-3260	70	51	decisions	decision	NOUN
cjal-3260	70	52	in	in	ADP
cjal-3260	70	53	favor	favor	NOUN
cjal-3260	70	54	of	of	ADP
cjal-3260	70	55	director	director	NOUN
cjal-3260	70	56	primacy	primacy	NOUN
cjal-3260	70	57	,	,	PUNCT
cjal-3260	70	58	is	be	AUX
cjal-3260	70	59	the	the	DET
cjal-3260	70	60	"	"	PUNCT
cjal-3260	70	61	team	team	NOUN
cjal-3260	70	62	production	production	NOUN
cjal-3260	70	63	"	"	PUNCT
cjal-3260	70	64	theory	theory	NOUN
cjal-3260	70	65	,	,	PUNCT
cjal-3260	70	66	which	which	PRON
cjal-3260	70	67	advocates	advocate	VERB
cjal-3260	70	68	control	control	NOUN
cjal-3260	70	69	of	of	ADP
cjal-3260	70	70	a	a	DET
cjal-3260	70	71	corporation	corporation	NOUN
cjal-3260	70	72	at	at	ADP
cjal-3260	70	73	the	the	DET
cjal-3260	70	74	board	board	NOUN
cjal-3260	70	75	,	,	PUNCT
cjal-3260	70	76	serving	serve	VERB
cjal-3260	70	77	as	as	ADP
cjal-3260	70	78	"	"	PUNCT
cjal-3260	70	79	mediating	mediate	VERB
cjal-3260	70	80	hierarchs	hierarchs	NOUN
cjal-3260	70	81	"	"	PUNCT
cjal-3260	70	82	and	and	CCONJ
cjal-3260	70	83	balancing	balance	VERB
cjal-3260	70	84	the	the	DET
cjal-3260	70	85	interests	interest	NOUN
cjal-3260	70	86	of	of	ADP
cjal-3260	70	87	all	all	DET
cjal-3260	70	88	the	the	DET
cjal-3260	70	89	firm	firm	NOUN
cjal-3260	70	90	's	's	PART
cjal-3260	70	91	constituents	constituent	NOUN
cjal-3260	70	92	in	in	ADP
cjal-3260	70	93	an	an	DET
cjal-3260	70	94	atmosphere	atmosphere	NOUN
cjal-3260	70	95	somewhat	somewhat	ADV
cjal-3260	70	96	insulated	insulate	VERB
cjal-3260	70	97	from	from	ADP
cjal-3260	70	98	shareholder	shareholder	NOUN
cjal-3260	70	99	control	control	NOUN
cjal-3260	70	100	.	.	PUNCT
cjal-3260	71	1	see	see	VERB
cjal-3260	71	2	margaret	margaret	PROPN
cjal-3260	71	3	m.	m.	PROPN
cjal-3260	71	4	blair	blair	PROPN
cjal-3260	71	5	&	&	CCONJ
cjal-3260	71	6	lynn	lynn	PROPN
cjal-3260	71	7	a.	a.	PROPN
cjal-3260	71	8	stout	stout	PROPN
cjal-3260	71	9	,	,	PUNCT
cjal-3260	71	10	a	a	DET
cjal-3260	71	11	team	team	NOUN
cjal-3260	71	12	production	production	NOUN
cjal-3260	71	13	theory	theory	NOUN
cjal-3260	71	14	of	of	ADP
cjal-3260	71	15	corporate	corporate	ADJ
cjal-3260	71	16	law	law	NOUN
cjal-3260	71	17	,	,	PUNCT
cjal-3260	71	18	85	85	NUM
cjal-3260	71	19	va	va	PROPN
cjal-3260	71	20	l.	l.	PROPN
cjal-3260	71	21	rev	rev	PROPN
cjal-3260	71	22	.	.	PROPN
cjal-3260	71	23	247	247	NUM
cjal-3260	71	24	(	(	PUNCT
cjal-3260	71	25	1999	1999	NUM
cjal-3260	71	26	)	)	PUNCT
cjal-3260	71	27	.	.	PUNCT
cjal-3260	72	1	strong	strong	ADJ
cjal-3260	72	2	defensive	defensive	ADJ
cjal-3260	72	3	measures	measure	NOUN
cjal-3260	72	4	such	such	ADJ
cjal-3260	72	5	as	as	ADP
cjal-3260	72	6	poison	poison	NOUN
cjal-3260	72	7	pills	pill	NOUN
cjal-3260	72	8	,	,	PUNCT
cjal-3260	72	9	and	and	CCONJ
cjal-3260	72	10	the	the	DET
cjal-3260	72	11	power	power	NOUN
cjal-3260	72	12	or	or	CCONJ
cjal-3260	72	13	discretion	discretion	NOUN
cjal-3260	72	14	to	to	PART
cjal-3260	72	15	decide	decide	VERB
cjal-3260	72	16	on	on	ADP
cjal-3260	72	17	their	their	PRON
cjal-3260	72	18	use	use	NOUN
cjal-3260	72	19	,	,	PUNCT
cjal-3260	72	20	should	should	AUX
cjal-3260	72	21	lie	lie	VERB
cjal-3260	72	22	with	with	ADP
cjal-3260	72	23	the	the	DET
cjal-3260	72	24	board	board	NOUN
cjal-3260	72	25	of	of	ADP
cjal-3260	72	26	directors	director	NOUN
cjal-3260	72	27	and	and	CCONJ
cjal-3260	72	28	not	not	PART
cjal-3260	72	29	shareholders	shareholder	NOUN
cjal-3260	72	30	,	,	PUNCT
cjal-3260	72	31	according	accord	VERB
cjal-3260	72	32	to	to	ADP
cjal-3260	72	33	the	the	DET
cjal-3260	72	34	institutional	institutional	ADJ
cjal-3260	72	35	view	view	NOUN
cjal-3260	72	36	.	.	PUNCT
cjal-3260	73	1	see	see	VERB
cjal-3260	73	2	martin	martin	PROPN
cjal-3260	73	3	lipton	lipton	PROPN
cjal-3260	73	4	,	,	PUNCT
cjal-3260	73	5	twenty	twenty	NUM
cjal-3260	73	6	-	-	PUNCT
cjal-3260	73	7	five	five	NUM
cjal-3260	73	8	years	year	NOUN
cjal-3260	73	9	after	after	ADP
cjal-3260	73	10	takeover	takeover	NOUN
cjal-3260	73	11	bids	bid	NOUN
cjal-3260	73	12	in	in	ADP
cjal-3260	73	13	the	the	DET
cjal-3260	73	14	target	target	NOUN
cjal-3260	73	15	's	's	PART
cjal-3260	73	16	boardroom	boardroom	NOUN
cjal-3260	73	17	:	:	PUNCT
cjal-3260	73	18	old	old	ADJ
cjal-3260	73	19	battles	battle	NOUN
cjal-3260	73	20	,	,	PUNCT
cjal-3260	73	21	new	new	ADJ
cjal-3260	73	22	attacks	attack	NOUN
cjal-3260	73	23	and	and	CCONJ
cjal-3260	73	24	the	the	DET
cjal-3260	73	25	continuing	continue	VERB
cjal-3260	73	26	war	war	NOUN
cjal-3260	73	27	,	,	PUNCT
cjal-3260	73	28	60	60	NUM
cjal-3260	73	29	bus	bus	NOUN
cjal-3260	73	30	.	.	PUNCT
cjal-3260	74	1	law	law	NOUN
cjal-3260	74	2	.	.	PUNCT
cjal-3260	75	1	1369	1369	NUM
cjal-3260	75	2	(	(	PUNCT
cjal-3260	75	3	2005	2005	NUM
cjal-3260	75	4	)	)	PUNCT
cjal-3260	76	1	;	;	PUNCT
cjal-3260	76	2	see	see	VERB
cjal-3260	76	3	also	also	ADV
cjal-3260	76	4	allen	allen	PROPN
cjal-3260	76	5	&	&	CCONJ
cjal-3260	76	6	strine	strine	PROPN
cjal-3260	76	7	,	,	PUNCT
cjal-3260	76	8	supra	supra	PROPN
cjal-3260	76	9	note	note	NOUN
cjal-3260	76	10	3	3	NUM
cjal-3260	76	11	.	.	NOUN
cjal-3260	76	12	5	5	NUM
cjal-3260	76	13	in	in	ADP
cjal-3260	76	14	2006	2006	NUM
cjal-3260	76	15	,	,	PUNCT
cjal-3260	76	16	carl	carl	PROPN
cjal-3260	76	17	icahn	icahn	PROPN
cjal-3260	76	18	,	,	PUNCT
cjal-3260	76	19	together	together	ADV
cjal-3260	76	20	with	with	ADP
cjal-3260	76	21	warren	warren	PROPN
cjal-3260	76	22	lichtenstein	lichtenstein	PROPN
cjal-3260	76	23	's	's	PART
cjal-3260	76	24	steel	steel	PROPN
cjal-3260	76	25	fund	fund	PROPN
cjal-3260	76	26	ii	ii	PROPN
cjal-3260	76	27	,	,	PUNCT
cjal-3260	76	28	invested	invest	VERB
cjal-3260	76	29	in	in	ADP
cjal-3260	76	30	the	the	DET
cjal-3260	76	31	kt&g	kt&g	PROPN
cjal-3260	76	32	corporation	corporation	NOUN
cjal-3260	76	33	's	's	PART
cjal-3260	76	34	publicly	publicly	ADV
cjal-3260	76	35	traded	trade	VERB
cjal-3260	76	36	shares	share	NOUN
cjal-3260	76	37	.	.	PUNCT
cjal-3260	77	1	they	they	PRON
cjal-3260	77	2	soon	soon	ADV
cjal-3260	77	3	delivered	deliver	VERB
cjal-3260	77	4	an	an	DET
cjal-3260	77	5	unsolicited	unsolicited	ADJ
cjal-3260	77	6	buyout	buyout	NOUN
cjal-3260	77	7	offer	offer	NOUN
cjal-3260	77	8	for	for	ADP
cjal-3260	77	9	control	control	NOUN
cjal-3260	77	10	of	of	ADP
cjal-3260	77	11	the	the	DET
cjal-3260	77	12	company	company	NOUN
cjal-3260	77	13	,	,	PUNCT
cjal-3260	77	14	which	which	PRON
cjal-3260	77	15	was	be	AUX
cjal-3260	77	16	promptly	promptly	ADV
cjal-3260	77	17	rejected	reject	VERB
cjal-3260	77	18	by	by	ADP
cjal-3260	77	19	the	the	DET
cjal-3260	77	20	board	board	NOUN
cjal-3260	77	21	.	.	PUNCT
cjal-3260	78	1	this	this	PRON
cjal-3260	78	2	was	be	AUX
cjal-3260	78	3	followed	follow	VERB
cjal-3260	78	4	by	by	ADP
cjal-3260	78	5	a	a	DET
cjal-3260	78	6	proxy	proxy	NOUN
cjal-3260	78	7	contest	contest	NOUN
cjal-3260	78	8	in	in	ADP
cjal-3260	78	9	which	which	PRON
cjal-3260	78	10	their	their	PRON
cjal-3260	78	11	nominee	nominee	NOUN
cjal-3260	78	12	,	,	PUNCT
cjal-3260	78	13	mr	mr	PROPN
cjal-3260	78	14	.	.	PROPN
cjal-3260	78	15	lichtenstein	lichtenstein	PROPN
cjal-3260	78	16	,	,	PUNCT
cjal-3260	78	17	won	win	VERB
cjal-3260	78	18	one	one	NUM
cjal-3260	78	19	of	of	ADP
cjal-3260	78	20	twelve	twelve	NUM
cjal-3260	78	21	board	board	NOUN
cjal-3260	78	22	seats	seat	NOUN
cjal-3260	78	23	at	at	ADP
cjal-3260	78	24	kt&g	kt&g	PROPN
cjal-3260	78	25	.	.	PUNCT
cjal-3260	79	1	the	the	DET
cjal-3260	79	2	buyout	buyout	NOUN
cjal-3260	79	3	offer	offer	NOUN
cjal-3260	79	4	was	be	AUX
cjal-3260	79	5	delivered	deliver	VERB
cjal-3260	79	6	in	in	ADP
cjal-3260	79	7	a	a	DET
cjal-3260	79	8	february	february	NOUN
cjal-3260	79	9	23	23	NUM
cjal-3260	79	10	,	,	PUNCT
cjal-3260	79	11	2006	2006	NUM
cjal-3260	79	12	letter	letter	NOUN
cjal-3260	79	13	from	from	ADP
cjal-3260	79	14	warren	warren	PROPN
cjal-3260	79	15	lichtenstein	lichtenstein	PROPN
cjal-3260	79	16	,	,	PUNCT
cjal-3260	79	17	steel	steel	PROPN
cjal-3260	79	18	partners	partners	PROPN
cjal-3260	79	19	ii	ii	PROPN
cjal-3260	79	20	,	,	PUNCT
cjal-3260	79	21	l.p	l.p	PROPN
cjal-3260	79	22	.	.	PROPN
cjal-3260	79	23	,	,	PUNCT
cjal-3260	79	24	to	to	ADP
cjal-3260	79	25	mr	mr	PROPN
cjal-3260	79	26	.	.	PROPN
cjal-3260	79	27	young	young	PROPN
cjal-3260	79	28	-	-	PUNCT
cjal-3260	79	29	kyoon	kyoon	NOUN
cjal-3260	79	30	kwak	kwak	PROPN
cjal-3260	79	31	,	,	PUNCT
cjal-3260	79	32	representative	representative	ADJ
cjal-3260	79	33	director	director	NOUN
cjal-3260	79	34	,	,	PUNCT
cjal-3260	79	35	kt&g	kt&g	PROPN
cjal-3260	79	36	corporation	corporation	NOUN
cjal-3260	79	37	.	.	PUNCT
cjal-3260	80	1	see	see	VERB
cjal-3260	80	2	investor	investor	NOUN
cjal-3260	80	3	group	group	NOUN
cjal-3260	80	4	submits	submit	VERB
cjal-3260	80	5	proposal	proposal	NOUN
cjal-3260	80	6	to	to	PART
cjal-3260	80	7	acquire	acquire	VERB
cjal-3260	80	8	kt&g	kt&g	PROPN
cjal-3260	80	9	corp	corp	PROPN
cjal-3260	80	10	.	.	PROPN
cjal-3260	80	11	,	,	PUNCT
cjal-3260	80	12	prnewswire	prnewswire	PROPN
cjal-3260	80	13	,	,	PUNCT
cjal-3260	80	14	feb	feb	PROPN
cjal-3260	80	15	.	.	PROPN
cjal-3260	80	16	23	23	NUM
cjal-3260	80	17	,	,	PUNCT
cjal-3260	80	18	2006	2006	NUM
cjal-3260	80	19	,	,	PUNCT
cjal-3260	80	20	at	at	ADP
cjal-3260	80	21	http://www.prnewswire.co.uk/cgi/news/release?id=	http://www.prnewswire.co.uk/cgi/news/release?id=	NOUN
cjal-3260	80	22	164708	164708	NUM
cjal-3260	80	23	(	(	PUNCT
cjal-3260	80	24	last	last	ADJ
cjal-3260	80	25	visited	visit	VERB
cjal-3260	80	26	may	may	PROPN
cjal-3260	80	27	9	9	NUM
cjal-3260	80	28	,	,	PUNCT
cjal-3260	80	29	2007	2007	NUM
cjal-3260	80	30	)	)	PUNCT
cjal-3260	80	31	.	.	PUNCT
cjal-3260	81	1	6	6	NUM
cjal-3260	81	2	milhaupt	milhaupt	NOUN
cjal-3260	81	3	,	,	PUNCT
cjal-3260	81	4	supra	supra	ADJ
cjal-3260	81	5	note	note	NOUN
cjal-3260	81	6	2	2	NUM
cjal-3260	81	7	,	,	PUNCT
cjal-3260	81	8	at	at	ADP
cjal-3260	81	9	2181	2181	NUM
cjal-3260	81	10	.	.	PUNCT
cjal-3260	82	1	famous	famous	ADJ
cjal-3260	82	2	internet	internet	NOUN
cjal-3260	82	3	entrepreneur	entrepreneur	NOUN
cjal-3260	82	4	takafumi	takafumi	PROPN
cjal-3260	82	5	horie	horie	PROPN
cjal-3260	82	6	launched	launch	VERB
cjal-3260	82	7	the	the	DET
cjal-3260	82	8	takeover	takeover	NOUN
cjal-3260	82	9	contest	contest	NOUN
cjal-3260	82	10	,	,	PUNCT
cjal-3260	82	11	and	and	CCONJ
cjal-3260	82	12	is	be	AUX
cjal-3260	82	13	now	now	ADV
cjal-3260	82	14	being	be	AUX
cjal-3260	82	15	tried	try	VERB
cjal-3260	82	16	in	in	ADP
cjal-3260	82	17	a	a	DET
cjal-3260	82	18	novel	novel	ADJ
cjal-3260	82	19	case	case	NOUN
cjal-3260	82	20	after	after	ADP
cjal-3260	82	21	having	having	AUX
cjal-3260	82	22	been	be	AUX
cjal-3260	82	23	jailed	jail	VERB
cjal-3260	82	24	and	and	CCONJ
cjal-3260	82	25	noisily	noisily	ADV
cjal-3260	82	26	discredited	discredit	VERB
cjal-3260	82	27	by	by	ADP
cjal-3260	82	28	japanese	japanese	ADJ
cjal-3260	82	29	regulators	regulator	NOUN
cjal-3260	82	30	over	over	ADP
cjal-3260	82	31	alleged	alleged	ADJ
cjal-3260	82	32	market	market	NOUN
cjal-3260	82	33	manipulation	manipulation	NOUN
cjal-3260	82	34	and	and	CCONJ
cjal-3260	82	35	accounting	accounting	NOUN
cjal-3260	82	36	fraud	fraud	NOUN
cjal-3260	82	37	.	.	PUNCT
cjal-3260	83	1	see	see	VERB
cjal-3260	83	2	japan	japan	PROPN
cjal-3260	83	3	after	after	ADP
cjal-3260	83	4	livedoor	livedoor	ADV
cjal-3260	83	5	:	:	PUNCT
cjal-3260	83	6	from	from	ADP
cjal-3260	83	7	hero	hero	NOUN
cjal-3260	83	8	to	to	ADP
cjal-3260	83	9	zero	zero	NUM
cjal-3260	83	10	,	,	PUNCT
cjal-3260	83	11	economist	economist	NOUN
cjal-3260	83	12	,	,	PUNCT
cjal-3260	83	13	feb	feb	PROPN
cjal-3260	83	14	.	.	PROPN
cjal-3260	83	15	2	2	NUM
cjal-3260	83	16	,	,	PUNCT
cjal-3260	83	17	2006	2006	NUM
cjal-3260	83	18	.	.	PUNCT
cjal-3260	84	1	japan	japan	PROPN
cjal-3260	84	2	,	,	PUNCT
cjal-3260	84	3	however	however	ADV
cjal-3260	84	4	,	,	PUNCT
cjal-3260	84	5	has	have	AUX
cjal-3260	84	6	adopted	adopt	VERB
cjal-3260	84	7	the	the	DET
cjal-3260	84	8	most	most	ADV
cjal-3260	84	9	american	american	ADJ
cjal-3260	84	10	of	of	ADP
cjal-3260	84	11	capitalist	capitalist	ADJ
cjal-3260	84	12	defenses	defense	NOUN
cjal-3260	84	13	:	:	PUNCT
cjal-3260	84	14	the	the	DET
cjal-3260	84	15	poison	poison	NOUN
cjal-3260	84	16	pill	pill	NOUN
cjal-3260	84	17	.	.	PUNCT
cjal-3260	85	1	see	see	VERB
cjal-3260	85	2	section	section	NOUN
cjal-3260	85	3	iv	iv	NOUN
cjal-3260	85	4	,	,	PUNCT
cjal-3260	85	5	infra	infra	NOUN
cjal-3260	85	6	.	.	PUNCT
cjal-3260	86	1	7	7	NUM
cjal-3260	86	2	see	see	VERB
cjal-3260	86	3	lucian	lucian	PROPN
cjal-3260	86	4	a.	a.	PROPN
cjal-3260	86	5	bebchuk	bebchuk	PROPN
cjal-3260	86	6	,	,	PUNCT
cjal-3260	86	7	john	john	PROPN
cjal-3260	86	8	c.	c.	PROPN
cjal-3260	86	9	coates	coat	VERB
cjal-3260	86	10	iv	iv	PROPN
cjal-3260	86	11	&	&	CCONJ
cjal-3260	86	12	guhan	guhan	PROPN
cjal-3260	86	13	subramanian	subramanian	PROPN
cjal-3260	86	14	,	,	PUNCT
cjal-3260	86	15	the	the	DET
cjal-3260	86	16	powerful	powerful	ADJ
cjal-3260	86	17	antitakeover	antitakeover	ADJ
cjal-3260	86	18	force	force	NOUN
cjal-3260	86	19	of	of	ADP
cjal-3260	86	20	staggered	staggered	ADJ
cjal-3260	86	21	boards	board	NOUN
cjal-3260	86	22	:	:	PUNCT
cjal-3260	86	23	theory	theory	NOUN
cjal-3260	86	24	,	,	PUNCT
cjal-3260	86	25	evidence	evidence	NOUN
cjal-3260	86	26	,	,	PUNCT
cjal-3260	86	27	and	and	CCONJ
cjal-3260	86	28	policy	policy	NOUN
cjal-3260	86	29	,	,	PUNCT
cjal-3260	86	30	54	54	NUM
cjal-3260	86	31	stan	stan	PROPN
cjal-3260	86	32	.	.	PUNCT
cjal-3260	87	1	l.	l.	PROPN
cjal-3260	87	2	rev	rev	PROPN
cjal-3260	87	3	.	.	PROPN
cjal-3260	87	4	887	887	NUM
cjal-3260	87	5	(	(	PUNCT
cjal-3260	87	6	2002	2002	NUM
cjal-3260	87	7	)	)	PUNCT
cjal-3260	87	8	.	.	PUNCT
cjal-3260	88	1	8	8	NUM
cjal-3260	88	2	a	a	DET
cjal-3260	88	3	decade	decade	NOUN
cjal-3260	88	4	of	of	ADP
cjal-3260	88	5	international	international	ADJ
cjal-3260	88	6	attention	attention	NOUN
cjal-3260	88	7	to	to	ADP
cjal-3260	88	8	comparative	comparative	VERB
cjal-3260	88	9	corporate	corporate	ADJ
cjal-3260	88	10	governance	governance	NOUN
cjal-3260	88	11	following	follow	VERB
cjal-3260	88	12	the	the	DET
cjal-3260	88	13	financial	financial	ADJ
cjal-3260	88	14	crisis	crisis	NOUN
cjal-3260	88	15	of	of	ADP
cjal-3260	88	16	the	the	DET
cjal-3260	88	17	late	late	ADJ
cjal-3260	88	18	1990s	1990s	NUM
cjal-3260	88	19	has	have	AUX
cjal-3260	88	20	yielded	yield	VERB
cjal-3260	88	21	a	a	DET
cjal-3260	88	22	relatively	relatively	ADV
cjal-3260	88	23	consistent	consistent	ADJ
cjal-3260	88	24	analysis	analysis	NOUN
cjal-3260	88	25	of	of	ADP
cjal-3260	88	26	the	the	DET
cjal-3260	88	27	complex	complex	ADJ
cjal-3260	88	28	control	control	NOUN
cjal-3260	88	29	structures	structure	NOUN
cjal-3260	88	30	implemented	implement	VERB
cjal-3260	88	31	over	over	ADP
cjal-3260	88	32	the	the	DET
cjal-3260	88	33	prior	prior	ADJ
cjal-3260	88	34	two	two	NUM
cjal-3260	88	35	and	and	CCONJ
cjal-3260	88	36	three	three	NUM
cjal-3260	88	37	decades	decade	NOUN
cjal-3260	88	38	of	of	ADP
cjal-3260	88	39	economic	economic	ADJ
cjal-3260	88	40	growth	growth	NOUN
cjal-3260	88	41	in	in	ADP
cjal-3260	88	42	these	these	DET
cjal-3260	88	43	markets	market	NOUN
cjal-3260	88	44	.	.	PUNCT
cjal-3260	89	1	see	see	VERB
cjal-3260	89	2	stijn	stijn	PROPN
cjal-3260	89	3	claessens	claessen	NOUN
cjal-3260	89	4	,	,	PUNCT
cjal-3260	89	5	simeon	simeon	NOUN
cjal-3260	89	6	djankov	djankov	PROPN
cjal-3260	89	7	&	&	CCONJ
cjal-3260	89	8	larry	larry	PROPN
cjal-3260	89	9	h.p	h.p	PROPN
cjal-3260	89	10	.	.	PROPN
cjal-3260	89	11	lang	lang	PROPN
cjal-3260	89	12	,	,	PUNCT
cjal-3260	89	13	rho	rho	PROPN
cjal-3260	89	14	controls	control	VERB
cjal-3260	89	15	east	east	ADJ
cjal-3260	89	16	asian	asian	ADJ
cjal-3260	89	17	corporations	corporation	NOUN
cjal-3260	89	18	?	?	PUNCT
cjal-3260	90	1	(	(	PUNCT
cjal-3260	90	2	world	world	NOUN
cjal-3260	90	3	bank	bank	NOUN
cjal-3260	90	4	pol'y	pol'y	NOUN
cjal-3260	90	5	research	research	NOUN
cjal-3260	90	6	,	,	PUNCT
cjal-3260	90	7	working	work	VERB
cjal-3260	90	8	paper	paper	NOUN
cjal-3260	90	9	report	report	NOUN
cjal-3260	90	10	no	no	INTJ
cjal-3260	90	11	.	.	PUNCT
cjal-3260	91	1	wps	wps	PROPN
cjal-3260	91	2	2054	2054	NUM
cjal-3260	91	3	,	,	PUNCT
cjal-3260	91	4	1999	1999	NUM
cjal-3260	91	5	)	)	PUNCT
cjal-3260	91	6	,	,	PUNCT
cjal-3260	91	7	available	available	ADJ
cjal-3260	91	8	at	at	ADP
cjal-3260	91	9	http://wwwcolumbia	http://wwwcolumbia	DET
cjal-3260	91	10	journal	journal	NOUN
cjal-3260	91	11	ofasianlaw	ofasianlaw	NOUN
cjal-3260	92	1	[	[	X
cjal-3260	92	2	20:2	20:2	NUM
cjal-3260	92	3	then	then	ADV
cjal-3260	92	4	,	,	PUNCT
cjal-3260	92	5	that	that	SCONJ
cjal-3260	92	6	east	east	ADJ
cjal-3260	92	7	asian	asian	ADJ
cjal-3260	92	8	firms	firm	NOUN
cjal-3260	92	9	are	be	AUX
cjal-3260	92	10	demanding	demand	VERB
cjal-3260	92	11	enhanced	enhanced	ADJ
cjal-3260	92	12	takeover	takeover	NOUN
cjal-3260	92	13	defenses	defense	NOUN
cjal-3260	92	14	as	as	SCONJ
cjal-3260	92	15	their	their	PRON
cjal-3260	92	16	national	national	ADJ
cjal-3260	92	17	capital	capital	NOUN
cjal-3260	92	18	markets	market	NOUN
cjal-3260	92	19	have	have	AUX
cjal-3260	92	20	opened	open	VERB
cjal-3260	92	21	pursuant	pursuant	ADV
cjal-3260	92	22	to	to	ADP
cjal-3260	92	23	domestic	domestic	ADJ
cjal-3260	92	24	development	development	NOUN
cjal-3260	92	25	policies	policy	NOUN
cjal-3260	92	26	and	and	CCONJ
cjal-3260	92	27	free	free	ADJ
cjal-3260	92	28	trade	trade	NOUN
cjal-3260	92	29	commitments	commitment	NOUN
cjal-3260	92	30	.	.	PUNCT
cjal-3260	93	1	9	9	NUM
cjal-3260	93	2	in	in	ADP
cjal-3260	93	3	an	an	DET
cjal-3260	93	4	era	era	NOUN
cjal-3260	93	5	of	of	ADP
cjal-3260	93	6	general	general	ADJ
cjal-3260	93	7	cross	cross	NOUN
cjal-3260	93	8	-	-	NOUN
cjal-3260	93	9	fertilization	fertilization	NOUN
cjal-3260	93	10	in	in	ADP
cjal-3260	93	11	corporate	corporate	ADJ
cjal-3260	93	12	governance	governance	NOUN
cjal-3260	93	13	systems	system	NOUN
cjal-3260	93	14	and	and	CCONJ
cjal-3260	93	15	global	global	ADJ
cjal-3260	93	16	competition	competition	NOUN
cjal-3260	93	17	among	among	ADP
cjal-3260	93	18	various	various	ADJ
cjal-3260	93	19	sources	source	NOUN
cjal-3260	93	20	of	of	ADP
cjal-3260	93	21	capital	capital	NOUN
cjal-3260	93	22	for	for	ADP
cjal-3260	93	23	the	the	DET
cjal-3260	93	24	best	good	ADJ
cjal-3260	93	25	returns	return	NOUN
cjal-3260	93	26	on	on	ADP
cjal-3260	93	27	investments	investment	NOUN
cjal-3260	93	28	,	,	PUNCT
cjal-3260	93	29	it	it	PRON
cjal-3260	93	30	is	be	AUX
cjal-3260	93	31	rational	rational	ADJ
cjal-3260	93	32	that	that	SCONJ
cjal-3260	93	33	domestic	domestic	ADJ
cjal-3260	93	34	companies	company	NOUN
cjal-3260	93	35	expect	expect	VERB
cjal-3260	93	36	to	to	PART
cjal-3260	93	37	have	have	VERB
cjal-3260	93	38	access	access	NOUN
cjal-3260	93	39	to	to	ADP
cjal-3260	93	40	global	global	ADJ
cjal-3260	93	41	state	state	NOUN
cjal-3260	93	42	-	-	PUNCT
cjal-3260	93	43	of	of	ADP
cjal-3260	93	44	-	-	PUNCT
cjal-3260	93	45	the	the	DET
cjal-3260	93	46	-	-	PUNCT
cjal-3260	93	47	art	art	NOUN
cjal-3260	93	48	anti	anti	ADJ
cjal-3260	93	49	-	-	ADJ
cjal-3260	93	50	takeover	takeover	ADJ
cjal-3260	93	51	defenses	defense	NOUN
cjal-3260	93	52	and	and	CCONJ
cjal-3260	93	53	shields	shield	NOUN
cjal-3260	93	54	at	at	ADV
cjal-3260	93	55	least	least	ADJ
cjal-3260	93	56	as	as	ADV
cjal-3260	93	57	powerful	powerful	ADJ
cjal-3260	93	58	as	as	ADP
cjal-3260	93	59	those	those	PRON
cjal-3260	93	60	enjoyed	enjoy	VERB
cjal-3260	93	61	by	by	ADP
cjal-3260	93	62	their	their	PRON
cjal-3260	93	63	counterparts	counterpart	NOUN
cjal-3260	93	64	abroad	abroad	ADV
cjal-3260	93	65	.	.	PUNCT
cjal-3260	94	1	for	for	ADP
cjal-3260	94	2	reasons	reason	NOUN
cjal-3260	94	3	rooted	root	VERB
cjal-3260	94	4	in	in	ADP
cjal-3260	94	5	history	history	NOUN
cjal-3260	94	6	and	and	CCONJ
cjal-3260	94	7	culture	culture	NOUN
cjal-3260	94	8	,	,	PUNCT
cjal-3260	94	9	changes	change	NOUN
cjal-3260	94	10	in	in	ADP
cjal-3260	94	11	control	control	NOUN
cjal-3260	94	12	of	of	ADP
cjal-3260	94	13	the	the	DET
cjal-3260	94	14	most	most	ADV
cjal-3260	94	15	prominent	prominent	ADJ
cjal-3260	94	16	east	east	ADJ
cjal-3260	94	17	asian	asian	ADJ
cjal-3260	94	18	companies	company	NOUN
cjal-3260	94	19	generally	generally	ADV
cjal-3260	94	20	have	have	AUX
cjal-3260	94	21	not	not	PART
cjal-3260	94	22	occurred	occur	VERB
cjal-3260	94	23	through	through	ADP
cjal-3260	94	24	mergers	merger	NOUN
cjal-3260	94	25	and	and	CCONJ
cjal-3260	94	26	acquisitions	acquisition	NOUN
cjal-3260	94	27	using	use	VERB
cjal-3260	94	28	hostile	hostile	ADJ
cjal-3260	94	29	takeover	takeover	NOUN
cjal-3260	94	30	techniques	technique	NOUN
cjal-3260	94	31	of	of	ADP
cjal-3260	94	32	the	the	DET
cjal-3260	94	33	wds.worldbank.org/extemal/default/wdscontentserver/iw3p/ib/2000/02/24/000094946_9903191	wds.worldbank.org/extemal/default/wdscontentserver/iw3p/ib/2000/02/24/000094946_9903191	PROPN
cjal-3260	94	34	1113874	1113874	NUM
cjal-3260	94	35	/	/	SYM
cjal-3260	94	36	rendered	render	VERB
cjal-3260	94	37	/	/	SYM
cjal-3260	94	38	pdf	pdf	NOUN
cjal-3260	94	39	/	/	SYM
cjal-3260	94	40	multipage.pdf	multipage.pdf	X
cjal-3260	94	41	(	(	PUNCT
cjal-3260	94	42	last	last	ADJ
cjal-3260	94	43	visited	visit	VERB
cjal-3260	94	44	may	may	PROPN
cjal-3260	94	45	9	9	NUM
cjal-3260	94	46	,	,	PUNCT
cjal-3260	94	47	2007	2007	NUM
cjal-3260	94	48	)	)	PUNCT
cjal-3260	94	49	.	.	PUNCT
cjal-3260	95	1	a	a	DET
cjal-3260	95	2	study	study	NOUN
cjal-3260	95	3	published	publish	VERB
cjal-3260	95	4	in	in	ADP
cjal-3260	95	5	the	the	DET
cjal-3260	95	6	late	late	ADJ
cjal-3260	95	7	1990s	1990	NOUN
cjal-3260	95	8	documented	document	VERB
cjal-3260	95	9	the	the	DET
cjal-3260	95	10	ownership	ownership	NOUN
cjal-3260	95	11	structure	structure	NOUN
cjal-3260	95	12	of	of	ADP
cjal-3260	95	13	the	the	DET
cjal-3260	95	14	ten	ten	NUM
cjal-3260	95	15	largest	large	ADJ
cjal-3260	95	16	non	non	ADJ
cjal-3260	95	17	-	-	ADJ
cjal-3260	95	18	financial	financial	ADJ
cjal-3260	95	19	corporations	corporation	NOUN
cjal-3260	95	20	for	for	ADP
cjal-3260	95	21	a	a	DET
cjal-3260	95	22	crosssection	crosssection	NOUN
cjal-3260	95	23	of	of	ADP
cjal-3260	95	24	forty	forty	NUM
cjal-3260	95	25	nine	nine	NUM
cjal-3260	95	26	countries	country	NOUN
cjal-3260	95	27	,	,	PUNCT
cjal-3260	95	28	including	include	VERB
cjal-3260	95	29	nine	nine	NUM
cjal-3260	95	30	in	in	ADP
cjal-3260	95	31	east	east	PROPN
cjal-3260	95	32	asia	asia	PROPN
cjal-3260	95	33	,	,	PUNCT
cjal-3260	95	34	and	and	CCONJ
cjal-3260	95	35	determined	determine	VERB
cjal-3260	95	36	the	the	DET
cjal-3260	95	37	control	control	NOUN
cjal-3260	95	38	structures	structure	NOUN
cjal-3260	95	39	of	of	ADP
cjal-3260	95	40	the	the	DET
cjal-3260	95	41	largest	large	ADJ
cjal-3260	95	42	twenty	twenty	NUM
cjal-3260	95	43	publicly	publicly	ADV
cjal-3260	95	44	traded	trade	VERB
cjal-3260	95	45	companies	company	NOUN
cjal-3260	95	46	in	in	ADP
cjal-3260	95	47	twenty	twenty	NUM
cjal-3260	95	48	seven	seven	NUM
cjal-3260	95	49	of	of	ADP
cjal-3260	95	50	the	the	DET
cjal-3260	95	51	world	world	NOUN
cjal-3260	95	52	's	's	PART
cjal-3260	95	53	richest	rich	ADJ
cjal-3260	95	54	countries	country	NOUN
cjal-3260	95	55	,	,	PUNCT
cjal-3260	95	56	including	include	VERB
cjal-3260	95	57	hong	hong	PROPN
cjal-3260	95	58	kong	kong	PROPN
cjal-3260	95	59	,	,	PUNCT
cjal-3260	95	60	japan	japan	PROPN
cjal-3260	95	61	,	,	PUNCT
cjal-3260	95	62	korea	korea	PROPN
cjal-3260	95	63	and	and	CCONJ
cjal-3260	95	64	singapore	singapore	PROPN
cjal-3260	95	65	,	,	PUNCT
cjal-3260	95	66	tracing	trace	VERB
cjal-3260	95	67	control	control	NOUN
cjal-3260	95	68	to	to	ADP
cjal-3260	95	69	the	the	DET
cjal-3260	95	70	ultimate	ultimate	ADJ
cjal-3260	95	71	owners	owner	NOUN
cjal-3260	95	72	.	.	PUNCT
cjal-3260	96	1	the	the	DET
cjal-3260	96	2	study	study	NOUN
cjal-3260	96	3	distinguished	distinguish	VERB
cjal-3260	96	4	among	among	ADP
cjal-3260	96	5	five	five	NUM
cjal-3260	96	6	types	type	NOUN
cjal-3260	96	7	of	of	ADP
cjal-3260	96	8	owners	owner	NOUN
cjal-3260	96	9	,	,	PUNCT
cjal-3260	96	10	finding	find	VERB
cjal-3260	96	11	ownership	ownership	NOUN
cjal-3260	96	12	in	in	ADP
cjal-3260	96	13	the	the	DET
cjal-3260	96	14	majority	majority	NOUN
cjal-3260	96	15	of	of	ADP
cjal-3260	96	16	japanese	japanese	ADJ
cjal-3260	96	17	and	and	CCONJ
cjal-3260	96	18	korean	korean	ADJ
cjal-3260	96	19	companies	company	NOUN
cjal-3260	96	20	to	to	PART
cjal-3260	96	21	be	be	AUX
cjal-3260	96	22	widely	widely	ADV
cjal-3260	96	23	dispersed	disperse	VERB
cjal-3260	96	24	,	,	PUNCT
cjal-3260	96	25	companies	company	NOUN
cjal-3260	96	26	in	in	ADP
cjal-3260	96	27	hong	hong	PROPN
cjal-3260	96	28	kong	kong	PROPN
cjal-3260	96	29	to	to	PART
cjal-3260	96	30	be	be	AUX
cjal-3260	96	31	controlled	control	VERB
cjal-3260	96	32	by	by	ADP
cjal-3260	96	33	families	family	NOUN
cjal-3260	96	34	,	,	PUNCT
cjal-3260	96	35	and	and	CCONJ
cjal-3260	96	36	singaporean	singaporean	ADJ
cjal-3260	96	37	companies	company	NOUN
cjal-3260	96	38	about	about	ADP
cjal-3260	96	39	half	half	ADV
cjal-3260	96	40	controlled	control	VERB
cjal-3260	96	41	by	by	ADP
cjal-3260	96	42	the	the	DET
cjal-3260	96	43	state	state	NOUN
cjal-3260	96	44	.	.	PUNCT
cjal-3260	97	1	rafael	rafael	PROPN
cjal-3260	97	2	laporta	laporta	PROPN
cjal-3260	97	3	,	,	PUNCT
cjal-3260	97	4	florencio	florencio	PROPN
cjal-3260	97	5	lopezsilanes	lopezsilane	NOUN
cjal-3260	97	6	,	,	PUNCT
cjal-3260	97	7	andrei	andrei	PROPN
cjal-3260	97	8	shleifer	shleifer	PROPN
cjal-3260	97	9	&	&	CCONJ
cjal-3260	97	10	robert	robert	PROPN
cjal-3260	97	11	w.	w.	PROPN
cjal-3260	97	12	vishny	vishny	PROPN
cjal-3260	97	13	,	,	PUNCT
cjal-3260	97	14	law	law	NOUN
cjal-3260	97	15	and	and	CCONJ
cjal-3260	97	16	finance	finance	NOUN
cjal-3260	97	17	,	,	PUNCT
cjal-3260	97	18	106	106	NUM
cjal-3260	97	19	j.	j.	PROPN
cjal-3260	97	20	pol	pol	PROPN
cjal-3260	97	21	.	.	PUNCT
cjal-3260	97	22	econ	econ	PROPN
cjal-3260	97	23	.	.	PUNCT
cjal-3260	98	1	1113	1113	NUM
cjal-3260	98	2	(	(	PUNCT
cjal-3260	98	3	1998	1998	NUM
cjal-3260	98	4	)	)	PUNCT
cjal-3260	98	5	.	.	PUNCT
cjal-3260	99	1	the	the	DET
cjal-3260	99	2	same	same	ADJ
cjal-3260	99	3	study	study	NOUN
cjal-3260	99	4	further	far	ADV
cjal-3260	99	5	examined	examine	VERB
cjal-3260	99	6	the	the	DET
cjal-3260	99	7	means	mean	NOUN
cjal-3260	99	8	through	through	ADP
cjal-3260	99	9	which	which	DET
cjal-3260	99	10	control	control	NOUN
cjal-3260	99	11	is	be	AUX
cjal-3260	99	12	enhanced	enhance	VERB
cjal-3260	99	13	in	in	ADP
cjal-3260	99	14	controlled	control	VERB
cjal-3260	99	15	companies	company	NOUN
cjal-3260	99	16	.	.	PUNCT
cjal-3260	100	1	the	the	DET
cjal-3260	100	2	study	study	NOUN
cjal-3260	100	3	identifies	identify	VERB
cjal-3260	100	4	the	the	DET
cjal-3260	100	5	use	use	NOUN
cjal-3260	100	6	of	of	ADP
cjal-3260	100	7	pyramiding	pyramiding	NOUN
cjal-3260	100	8	and	and	CCONJ
cjal-3260	100	9	management	management	NOUN
cjal-3260	100	10	appointments	appointment	NOUN
cjal-3260	100	11	,	,	PUNCT
cjal-3260	100	12	frequent	frequent	ADJ
cjal-3260	100	13	cross	cross	NOUN
cjal-3260	100	14	-	-	NOUN
cjal-3260	100	15	ownership	ownership	ADJ
cjal-3260	100	16	and	and	CCONJ
cjal-3260	100	17	dual	dual	ADJ
cjal-3260	100	18	class	class	NOUN
cjal-3260	100	19	voting	voting	NOUN
cjal-3260	100	20	structures	structure	NOUN
cjal-3260	100	21	as	as	SCONJ
cjal-3260	100	22	patterns	pattern	NOUN
cjal-3260	100	23	to	to	PART
cjal-3260	100	24	increase	increase	VERB
cjal-3260	100	25	control	control	NOUN
cjal-3260	100	26	generally	generally	ADV
cjal-3260	100	27	;	;	PUNCT
cjal-3260	100	28	the	the	DET
cjal-3260	100	29	laporta	laporta	PROPN
cjal-3260	100	30	team	team	NOUN
cjal-3260	100	31	additionally	additionally	ADV
cjal-3260	100	32	identified	identify	VERB
cjal-3260	100	33	east	east	ADJ
cjal-3260	100	34	asian	asian	ADJ
cjal-3260	100	35	companies	company	NOUN
cjal-3260	100	36	as	as	ADP
cjal-3260	100	37	subject	subject	ADJ
cjal-3260	100	38	to	to	ADP
cjal-3260	100	39	control	control	NOUN
cjal-3260	100	40	with	with	ADP
cjal-3260	100	41	significantly	significantly	ADV
cjal-3260	100	42	less	less	ADJ
cjal-3260	100	43	than	than	ADP
cjal-3260	100	44	a	a	DET
cjal-3260	100	45	majority	majority	NOUN
cjal-3260	100	46	of	of	ADP
cjal-3260	100	47	shares	share	NOUN
cjal-3260	100	48	outstanding	outstanding	ADJ
cjal-3260	100	49	:	:	PUNCT
cjal-3260	100	50	the	the	DET
cjal-3260	100	51	single	single	ADJ
cjal-3260	100	52	controlling	control	VERB
cjal-3260	100	53	owner	owner	NOUN
cjal-3260	100	54	can	can	AUX
cjal-3260	100	55	achieve	achieve	VERB
cjal-3260	100	56	that	that	DET
cjal-3260	100	57	control	control	NOUN
cjal-3260	100	58	in	in	ADP
cjal-3260	100	59	more	more	ADJ
cjal-3260	100	60	than	than	ADP
cjal-3260	100	61	eighty	eighty	NUM
cjal-3260	100	62	percent	percent	NOUN
cjal-3260	100	63	of	of	ADP
cjal-3260	100	64	companies	company	NOUN
cjal-3260	100	65	by	by	ADP
cjal-3260	100	66	holding	hold	VERB
cjal-3260	100	67	twenty	twenty	NUM
cjal-3260	100	68	percent	percent	NOUN
cjal-3260	100	69	or	or	CCONJ
cjal-3260	100	70	more	more	ADJ
cjal-3260	100	71	shares	share	NOUN
cjal-3260	100	72	.	.	PUNCT
cjal-3260	101	1	see	see	VERB
cjal-3260	101	2	also	also	ADV
cjal-3260	101	3	rafael	rafael	PROPN
cjal-3260	101	4	la	la	PROPN
cjal-3260	101	5	porta	porta	PROPN
cjal-3260	101	6	,	,	PUNCT
cjal-3260	101	7	florencio	florencio	PROPN
cjal-3260	101	8	lopez	lopez	PROPN
cjal-3260	101	9	-	-	PUNCT
cjal-3260	101	10	de	de	NOUN
cjal-3260	101	11	-	-	NOUN
cjal-3260	101	12	silanes	silane	NOUN
cjal-3260	101	13	,	,	PUNCT
cjal-3260	101	14	andrei	andrei	PROPN
cjal-3260	101	15	shleifer	shleifer	PROPN
cjal-3260	101	16	&	&	CCONJ
cjal-3260	101	17	robert	robert	PROPN
cjal-3260	101	18	w.	w.	PROPN
cjal-3260	101	19	vishny	vishny	PROPN
cjal-3260	101	20	,	,	PUNCT
cjal-3260	101	21	corporate	corporate	ADJ
cjal-3260	101	22	ownership	ownership	NOUN
cjal-3260	101	23	around	around	ADP
cjal-3260	101	24	the	the	DET
cjal-3260	101	25	world	world	NOUN
cjal-3260	101	26	,	,	PUNCT
cjal-3260	101	27	54	54	NUM
cjal-3260	101	28	j.	j.	PROPN
cjal-3260	101	29	fin	fin	PROPN
cjal-3260	101	30	.	.	PUNCT
cjal-3260	102	1	471	471	NUM
cjal-3260	102	2	(	(	PUNCT
cjal-3260	102	3	1999	1999	NUM
cjal-3260	102	4	)	)	PUNCT
cjal-3260	102	5	.	.	PUNCT
cjal-3260	103	1	following	follow	VERB
cjal-3260	103	2	this	this	DET
cjal-3260	103	3	research	research	NOUN
cjal-3260	103	4	into	into	ADP
cjal-3260	103	5	the	the	DET
cjal-3260	103	6	concentration	concentration	NOUN
cjal-3260	103	7	of	of	ADP
cjal-3260	103	8	corporate	corporate	ADJ
cjal-3260	103	9	control	control	NOUN
cjal-3260	103	10	worldwide	worldwide	ADV
cjal-3260	103	11	by	by	ADP
cjal-3260	103	12	the	the	DET
cjal-3260	103	13	laporta	laporta	PROPN
cjal-3260	103	14	team	team	NOUN
cjal-3260	103	15	in	in	ADP
cjal-3260	103	16	1998	1998	NUM
cjal-3260	103	17	and	and	CCONJ
cjal-3260	103	18	1999	1999	NUM
cjal-3260	103	19	,	,	PUNCT
cjal-3260	103	20	the	the	DET
cjal-3260	103	21	claessens	claessen	NOUN
cjal-3260	103	22	team	team	NOUN
cjal-3260	103	23	looked	look	VERB
cjal-3260	103	24	at	at	ADP
cjal-3260	103	25	the	the	DET
cjal-3260	103	26	degree	degree	NOUN
cjal-3260	103	27	to	to	PART
cjal-3260	103	28	which	which	DET
cjal-3260	103	29	ownership	ownership	NOUN
cjal-3260	103	30	is	be	AUX
cjal-3260	103	31	concentrated	concentrate	VERB
cjal-3260	103	32	in	in	ADP
cjal-3260	103	33	east	east	PROPN
cjal-3260	103	34	asia	asia	PROPN
cjal-3260	103	35	on	on	ADP
cjal-3260	103	36	a	a	DET
cjal-3260	103	37	systematic	systematic	ADJ
cjal-3260	103	38	,	,	PUNCT
cjal-3260	103	39	cross	cross	ADJ
cjal-3260	103	40	-	-	ADJ
cjal-3260	103	41	country	country	ADJ
cjal-3260	103	42	basis	basis	NOUN
cjal-3260	103	43	and	and	CCONJ
cjal-3260	103	44	found	find	VERB
cjal-3260	103	45	large	large	ADJ
cjal-3260	103	46	family	family	NOUN
cjal-3260	103	47	control	control	NOUN
cjal-3260	103	48	in	in	ADP
cjal-3260	103	49	more	more	ADJ
cjal-3260	103	50	than	than	ADP
cjal-3260	103	51	half	half	NOUN
cjal-3260	103	52	of	of	ADP
cjal-3260	103	53	east	east	ADJ
cjal-3260	103	54	asian	asian	ADJ
cjal-3260	103	55	corporations	corporation	NOUN
cjal-3260	103	56	.	.	PUNCT
cjal-3260	104	1	see	see	VERB
cjal-3260	104	2	claessens	claessen	NOUN
cjal-3260	104	3	et	et	PROPN
cjal-3260	104	4	al	al	PROPN
cjal-3260	104	5	.	.	PROPN
cjal-3260	104	6	,	,	PUNCT
cjal-3260	104	7	supra	supra	PROPN
cjal-3260	104	8	note	note	PROPN
cjal-3260	104	9	8	8	NUM
cjal-3260	104	10	.	.	PUNCT
cjal-3260	105	1	for	for	ADP
cjal-3260	105	2	this	this	DET
cjal-3260	105	3	study	study	NOUN
cjal-3260	105	4	,	,	PUNCT
cjal-3260	105	5	"	"	PUNCT
cjal-3260	105	6	east	east	PROPN
cjal-3260	105	7	asia	asia	PROPN
cjal-3260	105	8	"	"	PUNCT
cjal-3260	105	9	included	include	VERB
cjal-3260	105	10	hong	hong	PROPN
cjal-3260	105	11	kong	kong	PROPN
cjal-3260	105	12	,	,	PUNCT
cjal-3260	105	13	indonesia	indonesia	PROPN
cjal-3260	105	14	,	,	PUNCT
cjal-3260	105	15	japan	japan	PROPN
cjal-3260	105	16	,	,	PUNCT
cjal-3260	105	17	south	south	PROPN
cjal-3260	105	18	korea	korea	PROPN
cjal-3260	105	19	,	,	PUNCT
cjal-3260	105	20	malaysia	malaysia	PROPN
cjal-3260	105	21	,	,	PUNCT
cjal-3260	105	22	the	the	DET
cjal-3260	105	23	philippines	philippine	NOUN
cjal-3260	105	24	,	,	PUNCT
cjal-3260	105	25	singapore	singapore	PROPN
cjal-3260	105	26	,	,	PUNCT
cjal-3260	105	27	taiwan	taiwan	PROPN
cjal-3260	105	28	and	and	CCONJ
cjal-3260	105	29	thailand	thailand	PROPN
cjal-3260	105	30	.	.	PUNCT
cjal-3260	106	1	the	the	DET
cjal-3260	106	2	study	study	NOUN
cjal-3260	106	3	noted	note	VERB
cjal-3260	106	4	,	,	PUNCT
cjal-3260	106	5	"	"	PUNCT
cjal-3260	106	6	in	in	ADP
cjal-3260	106	7	many	many	ADJ
cjal-3260	106	8	countries	country	NOUN
cjal-3260	106	9	,	,	PUNCT
cjal-3260	106	10	control	control	NOUN
cjal-3260	106	11	is	be	AUX
cjal-3260	106	12	enhanced	enhance	VERB
cjal-3260	106	13	through	through	ADP
cjal-3260	106	14	pyramid	pyramid	NOUN
cjal-3260	106	15	structures	structure	NOUN
cjal-3260	106	16	,	,	PUNCT
cjal-3260	106	17	and	and	CCONJ
cjal-3260	106	18	sometime	sometime	ADJ
cjal-3260	106	19	deviations	deviation	NOUN
cjal-3260	106	20	from	from	ADP
cjal-3260	106	21	one	one	NUM
cjal-3260	106	22	-	-	PUNCT
cjal-3260	106	23	share	share	NOUN
cjal-3260	106	24	-	-	PUNCT
cjal-3260	106	25	one	one	NUM
cjal-3260	106	26	-	-	PUNCT
cjal-3260	106	27	vote	vote	NOUN
cjal-3260	106	28	rules	rule	NOUN
cjal-3260	106	29	,	,	PUNCT
cjal-3260	106	30	and	and	CCONJ
cjal-3260	106	31	voting	voting	NOUN
cjal-3260	106	32	rights	right	NOUN
cjal-3260	106	33	consequently	consequently	ADV
cjal-3260	106	34	exceed	exceed	VERB
cjal-3260	106	35	formal	formal	ADJ
cjal-3260	106	36	cash	cash	NOUN
cjal-3260	106	37	-	-	PUNCT
cjal-3260	106	38	flow	flow	NOUN
cjal-3260	106	39	rights	right	NOUN
cjal-3260	106	40	.	.	PUNCT
cjal-3260	106	41	"	"	PUNCT
cjal-3260	107	1	i	i	PRON
cjal-3260	107	2	d.	d.	VERB
cjal-3260	107	3	at	at	ADP
cjal-3260	107	4	summary	summary	NOUN
cjal-3260	107	5	of	of	ADP
cjal-3260	107	6	findings	finding	NOUN
cjal-3260	107	7	.	.	PUNCT
cjal-3260	108	1	"	"	PUNCT
cjal-3260	108	2	separation	separation	NOUN
cjal-3260	108	3	of	of	ADP
cjal-3260	108	4	management	management	NOUN
cjal-3260	108	5	from	from	ADP
cjal-3260	108	6	ownership	ownership	NOUN
cjal-3260	108	7	control	control	NOUN
cjal-3260	108	8	is	be	AUX
cjal-3260	108	9	rare	rare	ADJ
cjal-3260	108	10	,	,	PUNCT
cjal-3260	108	11	and	and	CCONJ
cjal-3260	108	12	management	management	NOUN
cjal-3260	108	13	of	of	ADP
cjal-3260	108	14	two	two	NUM
cjal-3260	108	15	-	-	PUNCT
cjal-3260	108	16	third	third	NOUN
cjal-3260	108	17	of	of	ADP
cjal-3260	108	18	firms	firm	NOUN
cjal-3260	108	19	which	which	PRON
cjal-3260	108	20	are	be	AUX
cjal-3260	108	21	not	not	PART
cjal-3260	108	22	widely	widely	ADV
cjal-3260	108	23	-	-	PUNCT
cjal-3260	108	24	held	hold	VERB
cjal-3260	108	25	is	be	AUX
cjal-3260	108	26	related	relate	VERB
cjal-3260	108	27	to	to	ADP
cjal-3260	108	28	the	the	DET
cjal-3260	108	29	family	family	NOUN
cjal-3260	108	30	of	of	ADP
cjal-3260	108	31	the	the	DET
cjal-3260	108	32	controlling	control	VERB
cjal-3260	108	33	shareholder	shareholder	NOUN
cjal-3260	108	34	.	.	PUNCT
cjal-3260	108	35	"	"	PUNCT
cjal-3260	109	1	i	i	PRON
cjal-3260	109	2	d.	d.	PROPN
cjal-3260	109	3	at	at	ADP
cjal-3260	109	4	3	3	NUM
cjal-3260	109	5	.	.	NOUN
cjal-3260	109	6	9	9	NUM
cjal-3260	109	7	see	see	VERB
cjal-3260	109	8	wonhyuk	wonhyuk	PROPN
cjal-3260	109	9	lim	lim	PROPN
cjal-3260	109	10	&	&	CCONJ
cjal-3260	109	11	joon	joon	PROPN
cjal-3260	109	12	-	-	PUNCT
cjal-3260	109	13	ho	ho	PROPN
cjal-3260	109	14	hahm	hahm	PROPN
cjal-3260	109	15	,	,	PUNCT
cjal-3260	109	16	turning	turn	VERB
cjal-3260	109	17	a	a	DET
cjal-3260	109	18	crisis	crisis	NOUN
cjal-3260	109	19	into	into	ADP
cjal-3260	109	20	an	an	DET
cjal-3260	109	21	opportunity	opportunity	NOUN
cjal-3260	109	22	:	:	PUNCT
cjal-3260	109	23	the	the	DET
cjal-3260	109	24	political	political	ADJ
cjal-3260	109	25	economy	economy	NOUN
cjal-3260	109	26	of	of	ADP
cjal-3260	109	27	korea	korea	PROPN
cjal-3260	109	28	's	's	PART
cjal-3260	109	29	financial	financial	ADJ
cjal-3260	109	30	sector	sector	NOUN
cjal-3260	109	31	reform	reform	NOUN
cjal-3260	109	32	,	,	PUNCT
cjal-3260	109	33	in	in	ADP
cjal-3260	109	34	from	from	ADP
cjal-3260	109	35	crisis	crisis	NOUN
cjal-3260	109	36	to	to	ADP
cjal-3260	109	37	opportunity	opportunity	NOUN
cjal-3260	109	38	:	:	PUNCT
cjal-3260	109	39	financial	financial	ADJ
cjal-3260	109	40	globalization	globalization	NOUN
cjal-3260	109	41	&	&	CCONJ
cjal-3260	109	42	east	east	ADJ
cjal-3260	109	43	asian	asian	ADJ
cjal-3260	109	44	capitalism	capitalism	NOUN
cjal-3260	109	45	83	83	NUM
cjal-3260	109	46	-	-	SYM
cjal-3260	109	47	119	119	NUM
cjal-3260	109	48	(	(	PUNCT
cjal-3260	109	49	jongryn	jongryn	PROPN
cjal-3260	109	50	mo	mo	PROPN
cjal-3260	109	51	&	&	CCONJ
cjal-3260	109	52	daniel	daniel	PROPN
cjal-3260	109	53	i.	i.	PROPN
cjal-3260	109	54	okomoto	okomoto	PROPN
cjal-3260	109	55	eds	eds	PROPN
cjal-3260	109	56	.	.	PROPN
cjal-3260	109	57	,	,	PUNCT
cjal-3260	109	58	2006	2006	NUM
cjal-3260	109	59	)	)	PUNCT
cjal-3260	109	60	,	,	PUNCT
cjal-3260	109	61	available	available	ADJ
cjal-3260	109	62	at	at	ADP
cjal-3260	109	63	http://www.brookings.edu/dybdocroot/views/articles/fellows/lim20060324.pdf	http://www.brookings.edu/dybdocroot/views/articles/fellows/lim20060324.pdf	NOUN
cjal-3260	109	64	.	.	PUNCT
cjal-3260	110	1	for	for	ADP
cjal-3260	110	2	a	a	DET
cjal-3260	110	3	chronicling	chronicling	NOUN
cjal-3260	110	4	of	of	ADP
cjal-3260	110	5	the	the	DET
cjal-3260	110	6	success	success	NOUN
cjal-3260	110	7	of	of	ADP
cjal-3260	110	8	asian	asian	ADJ
cjal-3260	110	9	export	export	NOUN
cjal-3260	110	10	economies	economy	NOUN
cjal-3260	110	11	and	and	CCONJ
cjal-3260	110	12	the	the	DET
cjal-3260	110	13	accompanying	accompany	VERB
cjal-3260	110	14	encouragement	encouragement	NOUN
cjal-3260	110	15	of	of	ADP
cjal-3260	110	16	foreign	foreign	ADJ
cjal-3260	110	17	direct	direct	ADJ
cjal-3260	110	18	investment	investment	NOUN
cjal-3260	110	19	,	,	PUNCT
cjal-3260	110	20	see	see	VERB
cjal-3260	110	21	stanley	stanley	PROPN
cjal-3260	110	22	fischer	fischer	PROPN
cjal-3260	110	23	,	,	PUNCT
cjal-3260	110	24	a	a	DET
cjal-3260	110	25	development	development	NOUN
cjal-3260	110	26	strategy	strategy	NOUN
cjal-3260	110	27	for	for	ADP
cjal-3260	110	28	asian	asian	ADJ
cjal-3260	110	29	economies	economy	NOUN
cjal-3260	110	30	:	:	PUNCT
cjal-3260	110	31	korean	korean	ADJ
cjal-3260	110	32	perspective	perspective	NOUN
cjal-3260	110	33	(	(	PUNCT
cjal-3260	110	34	may	may	PROPN
cjal-3260	110	35	15	15	NUM
cjal-3260	110	36	,	,	PUNCT
cjal-3260	110	37	2004	2004	NUM
cjal-3260	110	38	)	)	PUNCT
cjal-3260	110	39	(	(	PUNCT
cjal-3260	110	40	paper	paper	NOUN
cjal-3260	110	41	presented	present	VERB
cjal-3260	110	42	at	at	ADP
cjal-3260	110	43	the	the	DET
cjal-3260	110	44	korean	korean	ADJ
cjal-3260	110	45	seminar	seminar	NOUN
cjal-3260	110	46	of	of	ADP
cjal-3260	110	47	the	the	DET
cjal-3260	110	48	thirty	thirty	NUM
cjal-3260	110	49	seventh	seventh	ADJ
cjal-3260	110	50	annual	annual	ADJ
cjal-3260	110	51	meeting	meeting	NOUN
cjal-3260	110	52	of	of	ADP
cjal-3260	110	53	the	the	DET
cjal-3260	110	54	asian	asian	PROPN
cjal-3260	110	55	development	development	PROPN
cjal-3260	110	56	bank	bank	PROPN
cjal-3260	110	57	)	)	PUNCT
cjal-3260	110	58	,	,	PUNCT
cjal-3260	110	59	available	available	ADJ
cjal-3260	110	60	at	at	ADP
cjal-3260	110	61	http://www.iie.com/fischer/pdf/fischer051504.pdf	http://www.iie.com/fischer/pdf/fischer051504.pdf	PROPN
cjal-3260	110	62	.	.	PUNCT
cjal-3260	111	1	national	national	ADJ
cjal-3260	111	2	markets	market	NOUN
cjal-3260	111	3	,	,	PUNCT
cjal-3260	111	4	new	new	ADJ
cjal-3260	111	5	defenses	defense	NOUN
cjal-3260	111	6	anglo	anglo	ADJ
cjal-3260	111	7	-	-	PUNCT
cjal-3260	111	8	american	american	ADJ
cjal-3260	111	9	variety	variety	NOUN
cjal-3260	111	10	.	.	PUNCT
cjal-3260	112	1	'	'	PUNCT
cjal-3260	112	2	0	0	NUM
cjal-3260	113	1	indeed	indeed	ADV
cjal-3260	113	2	,	,	PUNCT
cjal-3260	113	3	from	from	ADP
cjal-3260	113	4	the	the	DET
cjal-3260	113	5	notorious	notorious	ADJ
cjal-3260	113	6	attempts	attempt	NOUN
cjal-3260	113	7	by	by	ADP
cjal-3260	113	8	american	american	ADJ
cjal-3260	113	9	"	"	PUNCT
cjal-3260	113	10	corporate	corporate	ADJ
cjal-3260	113	11	raider	raider	NOUN
cjal-3260	113	12	"	"	PUNCT
cjal-3260	113	13	t.	t.	PROPN
cjal-3260	113	14	boone	boone	PROPN
cjal-3260	113	15	pickens	pickens	PROPN
cjal-3260	113	16	to	to	PART
cjal-3260	113	17	win	win	VERB
cjal-3260	113	18	a	a	DET
cjal-3260	113	19	board	board	NOUN
cjal-3260	113	20	seat	seat	NOUN
cjal-3260	113	21	in	in	ADP
cjal-3260	113	22	japan	japan	PROPN
cjal-3260	113	23	in	in	ADP
cjal-3260	113	24	the	the	DET
cjal-3260	113	25	1980s	1980	NOUN
cjal-3260	113	26	until	until	ADP
cjal-3260	113	27	the	the	DET
cjal-3260	113	28	very	very	ADV
cjal-3260	113	29	recent	recent	ADJ
cjal-3260	113	30	emergence	emergence	NOUN
cjal-3260	113	31	of	of	ADP
cjal-3260	113	32	a	a	DET
cjal-3260	113	33	small	small	ADJ
cjal-3260	113	34	handful	handful	NOUN
cjal-3260	113	35	of	of	ADP
cjal-3260	113	36	hostile	hostile	ADJ
cjal-3260	113	37	takeovers	takeover	NOUN
cjal-3260	113	38	in	in	ADP
cjal-3260	113	39	japan	japan	PROPN
cjal-3260	113	40	,	,	PUNCT
cjal-3260	113	41	the	the	DET
cjal-3260	113	42	conventional	conventional	ADJ
cjal-3260	113	43	wisdom	wisdom	NOUN
cjal-3260	113	44	was	be	AUX
cjal-3260	113	45	that	that	SCONJ
cjal-3260	113	46	"	"	PUNCT
cjal-3260	113	47	there	there	PRON
cjal-3260	113	48	is	be	VERB
cjal-3260	113	49	no	no	DET
cjal-3260	113	50	market	market	NOUN
cjal-3260	113	51	for	for	ADP
cjal-3260	113	52	corporate	corporate	ADJ
cjal-3260	113	53	control	control	NOUN
cjal-3260	113	54	in	in	ADP
cjal-3260	113	55	japan	japan	PROPN
cjal-3260	113	56	,	,	PUNCT
cjal-3260	113	57	and	and	CCONJ
cjal-3260	113	58	there	there	PRON
cjal-3260	113	59	is	be	VERB
cjal-3260	113	60	not	not	PART
cjal-3260	113	61	likely	likely	ADJ
cjal-3260	113	62	to	to	PART
cjal-3260	113	63	be	be	AUX
cjal-3260	113	64	one	one	NUM
cjal-3260	113	65	.	.	PUNCT
cjal-3260	114	1	"	"	PUNCT
cjal-3260	114	2	"	"	PUNCT
cjal-3260	114	3	in	in	ADP
cjal-3260	114	4	asia	asia	PROPN
cjal-3260	114	5	more	more	ADV
cjal-3260	114	6	broadly	broadly	ADV
cjal-3260	114	7	,	,	PUNCT
cjal-3260	114	8	the	the	DET
cjal-3260	114	9	strong	strong	ADJ
cjal-3260	114	10	preference	preference	NOUN
cjal-3260	114	11	for	for	ADP
cjal-3260	114	12	stability	stability	NOUN
cjal-3260	114	13	and	and	CCONJ
cjal-3260	114	14	nonconfrontational	nonconfrontational	ADJ
cjal-3260	114	15	,	,	PUNCT
cjal-3260	114	16	patient	patient	ADJ
cjal-3260	114	17	capital	capital	NOUN
cjal-3260	114	18	characteristic	characteristic	NOUN
cjal-3260	114	19	of	of	ADP
cjal-3260	114	20	main	main	ADJ
cjal-3260	114	21	bank	bank	NOUN
cjal-3260	114	22	and	and	CCONJ
cjal-3260	114	23	statedirected	statedirecte	VERB
cjal-3260	114	24	systems	system	NOUN
cjal-3260	114	25	of	of	ADP
cjal-3260	114	26	corporate	corporate	ADJ
cjal-3260	114	27	finance	finance	NOUN
cjal-3260	114	28	are	be	AUX
cjal-3260	114	29	giving	give	VERB
cjal-3260	114	30	way	way	NOUN
cjal-3260	114	31	to	to	ADP
cjal-3260	114	32	an	an	DET
cjal-3260	114	33	active	active	ADJ
cjal-3260	114	34	market	market	NOUN
cjal-3260	114	35	for	for	ADP
cjal-3260	114	36	mergers	merger	NOUN
cjal-3260	114	37	and	and	CCONJ
cjal-3260	114	38	acquisitions	acquisition	NOUN
cjal-3260	114	39	,	,	PUNCT
cjal-3260	114	40	according	accord	VERB
cjal-3260	114	41	to	to	ADP
cjal-3260	114	42	hong	hong	PROPN
cjal-3260	114	43	kong	kong	PROPN
cjal-3260	114	44	-	-	PUNCT
cjal-3260	114	45	based	base	VERB
cjal-3260	114	46	practitioners	practitioner	NOUN
cjal-3260	114	47	of	of	ADP
cjal-3260	114	48	the	the	DET
cjal-3260	114	49	trade.1	trade.1	PROPN
cjal-3260	114	50	2	2	NUM
cjal-3260	114	51	the	the	DET
cjal-3260	114	52	correct	correct	ADJ
cjal-3260	114	53	takeover	takeover	NOUN
cjal-3260	114	54	policy	policy	NOUN
cjal-3260	114	55	regarding	regard	VERB
cjal-3260	114	56	the	the	DET
cjal-3260	114	57	legalization	legalization	NOUN
cjal-3260	114	58	of	of	ADP
cjal-3260	114	59	defensive	defensive	ADJ
cjal-3260	114	60	techniques	technique	NOUN
cjal-3260	114	61	depends	depend	VERB
cjal-3260	114	62	on	on	ADP
cjal-3260	114	63	the	the	DET
cjal-3260	114	64	extent	extent	NOUN
cjal-3260	114	65	to	to	PART
cjal-3260	114	66	which	which	PRON
cjal-3260	114	67	the	the	DET
cjal-3260	114	68	hostile	hostile	ADJ
cjal-3260	114	69	,	,	PUNCT
cjal-3260	114	70	unsolicited	unsolicited	ADJ
cjal-3260	114	71	takeover	takeover	NOUN
cjal-3260	114	72	is	be	AUX
cjal-3260	114	73	regarded	regard	VERB
cjal-3260	114	74	as	as	ADP
cjal-3260	114	75	a	a	DET
cjal-3260	114	76	social	social	ADJ
cjal-3260	114	77	benefit	benefit	NOUN
cjal-3260	114	78	.	.	PUNCT
cjal-3260	115	1	the	the	DET
cjal-3260	115	2	primary	primary	ADJ
cjal-3260	115	3	social	social	ADJ
cjal-3260	115	4	benefit	benefit	NOUN
cjal-3260	115	5	of	of	ADP
cjal-3260	115	6	hostile	hostile	ADJ
cjal-3260	115	7	transactions	transaction	NOUN
cjal-3260	115	8	is	be	AUX
cjal-3260	115	9	assumed	assume	VERB
cjal-3260	115	10	to	to	PART
cjal-3260	115	11	be	be	AUX
cjal-3260	115	12	the	the	DET
cjal-3260	115	13	"	"	PUNCT
cjal-3260	115	14	governance	governance	NOUN
cjal-3260	115	15	value	value	NOUN
cjal-3260	115	16	,	,	PUNCT
cjal-3260	115	17	"	"	PUNCT
cjal-3260	115	18	or	or	CCONJ
cjal-3260	115	19	improvement	improvement	NOUN
cjal-3260	115	20	in	in	ADP
cjal-3260	115	21	managers	manager	NOUN
cjal-3260	115	22	'	'	PART
cjal-3260	115	23	behavior	behavior	NOUN
cjal-3260	115	24	in	in	ADP
cjal-3260	115	25	response	response	NOUN
cjal-3260	115	26	to	to	ADP
cjal-3260	115	27	a	a	DET
cjal-3260	115	28	realistic	realistic	ADJ
cjal-3260	115	29	possibility	possibility	NOUN
cjal-3260	115	30	of	of	ADP
cjal-3260	115	31	losing	lose	VERB
cjal-3260	115	32	control	control	NOUN
cjal-3260	115	33	and	and	CCONJ
cjal-3260	115	34	its	its	PRON
cjal-3260	115	35	private	private	ADJ
cjal-3260	115	36	benefits	benefit	NOUN
cjal-3260	115	37	in	in	ADP
cjal-3260	115	38	a	a	DET
cjal-3260	115	39	takeover	takeover	NOUN
cjal-3260	115	40	.	.	PUNCT
cjal-3260	116	1	the	the	DET
cjal-3260	116	2	social	social	ADJ
cjal-3260	116	3	and	and	CCONJ
cjal-3260	116	4	market	market	NOUN
cjal-3260	116	5	effects	effect	NOUN
cjal-3260	116	6	of	of	ADP
cjal-3260	116	7	hostile	hostile	ADJ
cjal-3260	116	8	transactions	transaction	NOUN
cjal-3260	116	9	have	have	AUX
cjal-3260	116	10	been	be	AUX
cjal-3260	116	11	much	much	ADV
cjal-3260	116	12	studied	study	VERB
cjal-3260	116	13	and	and	CCONJ
cjal-3260	116	14	debated	debate	VERB
cjal-3260	116	15	over	over	ADP
cjal-3260	116	16	the	the	DET
cjal-3260	116	17	past	past	ADJ
cjal-3260	116	18	three	three	NUM
cjal-3260	116	19	decades	decade	NOUN
cjal-3260	116	20	,	,	PUNCT
cjal-3260	116	21	and	and	CCONJ
cjal-3260	116	22	the	the	DET
cjal-3260	116	23	basic	basic	ADJ
cjal-3260	116	24	logic	logic	NOUN
cjal-3260	116	25	is	be	AUX
cjal-3260	116	26	that	that	SCONJ
cjal-3260	116	27	takeovers	takeover	NOUN
cjal-3260	116	28	occur	occur	VERB
cjal-3260	116	29	where	where	SCONJ
cjal-3260	116	30	firms	firm	NOUN
cjal-3260	116	31	are	be	AUX
cjal-3260	116	32	poorly	poorly	ADV
cjal-3260	116	33	managed	manage	VERB
cjal-3260	116	34	and	and	CCONJ
cjal-3260	116	35	their	their	PRON
cjal-3260	116	36	assets	asset	NOUN
cjal-3260	116	37	are	be	AUX
cjal-3260	116	38	more	more	ADV
cjal-3260	116	39	valuable	valuable	ADJ
cjal-3260	116	40	in	in	ADP
cjal-3260	116	41	the	the	DET
cjal-3260	116	42	care	care	NOUN
cjal-3260	116	43	of	of	ADP
cjal-3260	116	44	other	other	ADJ
cjal-3260	116	45	fiduciaries.13	fiduciaries.13	PROPN
cjal-3260	116	46	empirical	empirical	ADJ
cjal-3260	116	47	studies	study	NOUN
cjal-3260	116	48	generally	generally	ADV
cjal-3260	116	49	support	support	VERB
cjal-3260	116	50	the	the	DET
cjal-3260	116	51	theory	theory	NOUN
cjal-3260	116	52	that	that	SCONJ
cjal-3260	116	53	hostile	hostile	ADJ
cjal-3260	116	54	takeovers	takeover	NOUN
cjal-3260	116	55	are	be	AUX
cjal-3260	116	56	good	good	ADJ
cjal-3260	116	57	for	for	ADP
cjal-3260	116	58	the	the	DET
cjal-3260	116	59	economy	economy	NOUN
cjal-3260	116	60	in	in	ADP
cjal-3260	116	61	terms	term	NOUN
cjal-3260	116	62	of	of	ADP
cjal-3260	116	63	increasing	increase	VERB
cjal-3260	116	64	the	the	DET
cjal-3260	116	65	value	value	NOUN
cjal-3260	116	66	of	of	ADP
cjal-3260	116	67	the	the	DET
cjal-3260	116	68	target	target	NOUN
cjal-3260	116	69	firms	firm	NOUN
cjal-3260	116	70	.	.	PUNCT
cjal-3260	117	1	robert	robert	PROPN
cjal-3260	117	2	bruner	bruner	PROPN
cjal-3260	117	3	's	's	PART
cjal-3260	117	4	survey	survey	NOUN
cjal-3260	117	5	of	of	ADP
cjal-3260	117	6	shareholder	shareholder	NOUN
cjal-3260	117	7	returns	return	VERB
cjal-3260	117	8	studies	study	NOUN
cjal-3260	117	9	for	for	ADP
cjal-3260	117	10	acquisitions	acquisition	NOUN
cjal-3260	117	11	from	from	ADP
cjal-3260	117	12	the	the	DET
cjal-3260	117	13	1980s	1980s	NUM
cjal-3260	117	14	through	through	ADP
cjal-3260	117	15	2004	2004	NUM
cjal-3260	117	16	shows	show	VERB
cjal-3260	117	17	that	that	SCONJ
cjal-3260	117	18	,	,	PUNCT
cjal-3260	117	19	regardless	regardless	ADV
cjal-3260	117	20	of	of	ADP
cjal-3260	117	21	the	the	DET
cjal-3260	117	22	"	"	PUNCT
cjal-3260	117	23	mood	mood	NOUN
cjal-3260	117	24	"	"	PUNCT
cjal-3260	117	25	or	or	CCONJ
cjal-3260	117	26	hostility	hostility	NOUN
cjal-3260	117	27	of	of	ADP
cjal-3260	117	28	the	the	DET
cjal-3260	117	29	transaction	transaction	NOUN
cjal-3260	117	30	,	,	PUNCT
cjal-3260	117	31	"	"	PUNCT
cjal-3260	117	32	target	target	NOUN
cjal-3260	117	33	firm	firm	ADJ
cjal-3260	117	34	shareholders	shareholder	NOUN
cjal-3260	117	35	enjoy	enjoy	VERB
cjal-3260	117	36	returns	return	NOUN
cjal-3260	117	37	that	that	PRON
cjal-3260	117	38	are	be	AUX
cjal-3260	117	39	significantly	significantly	ADV
cjal-3260	117	40	and	and	CCONJ
cjal-3260	117	41	materially	materially	ADV
cjal-3260	117	42	positive	positive	ADJ
cjal-3260	117	43	,	,	PUNCT
cjal-3260	117	44	"	"	PUNCT
cjal-3260	117	45	whereas	whereas	SCONJ
cjal-3260	117	46	"	"	PUNCT
cjal-3260	117	47	buyers	buyer	NOUN
cjal-3260	117	48	basically	basically	ADV
cjal-3260	117	49	break	break	VERB
cjal-3260	117	50	even	even	ADV
cjal-3260	117	51	(	(	PUNCT
cjal-3260	117	52	i.e.	i.e.	X
cjal-3260	117	53	,	,	PUNCT
cjal-3260	117	54	acquisitions	acquisition	NOUN
cjal-3260	117	55	tend	tend	VERB
cjal-3260	117	56	to	to	PART
cjal-3260	117	57	offer	offer	VERB
cjal-3260	117	58	zero	zero	NUM
cjal-3260	117	59	net	net	ADJ
cjal-3260	117	60	present	present	ADJ
cjal-3260	117	61	values	value	NOUN
cjal-3260	117	62	,	,	PUNCT
cjal-3260	117	63	or	or	CCONJ
cjal-3260	117	64	,	,	PUNCT
cjal-3260	117	65	equivalently	equivalently	ADV
cjal-3260	117	66	,	,	PUNCT
cjal-3260	117	67	investors	investor	NOUN
cjal-3260	117	68	earn	earn	VERB
cjal-3260	117	69	their	their	PRON
cjal-3260	117	70	required	require	VERB
cjal-3260	117	71	return	return	NOUN
cjal-3260	117	72	)	)	PUNCT
cjal-3260	117	73	.	.	PUNCT
cjal-3260	117	74	"	"	PUNCT
cjal-3260	118	1	14	14	NUM
cjal-3260	118	2	combining	combine	VERB
cjal-3260	118	3	the	the	DET
cjal-3260	118	4	returns	return	NOUN
cjal-3260	118	5	for	for	ADP
cjal-3260	118	6	buyers	buyer	NOUN
cjal-3260	118	7	and	and	CCONJ
cjal-3260	118	8	sellers	seller	NOUN
cjal-3260	118	9	,	,	PUNCT
cjal-3260	118	10	"	"	PUNCT
cjal-3260	118	11	almost	almost	ADV
cjal-3260	118	12	all	all	PRON
cjal-3260	118	13	of	of	ADP
cjal-3260	118	14	the	the	DET
cjal-3260	118	15	studies	study	NOUN
cjal-3260	118	16	report	report	VERB
cjal-3260	118	17	positive	positive	ADJ
cjal-3260	118	18	combined	combined	ADJ
cjal-3260	118	19	returns	return	NOUN
cjal-3260	118	20	"	"	PUNCT
cjal-3260	118	21	with	with	ADP
cjal-3260	118	22	approximately	approximately	ADV
cjal-3260	118	23	sixty	sixty	NUM
cjal-3260	118	24	percent	percent	NOUN
cjal-3260	118	25	of	of	ADP
cjal-3260	118	26	the	the	DET
cjal-3260	118	27	10	10	NUM
cjal-3260	118	28	see	see	NOUN
cjal-3260	118	29	generally	generally	ADV
cjal-3260	118	30	francis	francis	PROPN
cjal-3260	118	31	fukuyama	fukuyama	PROPN
cjal-3260	118	32	,	,	PUNCT
cjal-3260	118	33	trust	trust	NOUN
cjal-3260	118	34	:	:	PUNCT
cjal-3260	118	35	the	the	DET
cjal-3260	118	36	social	social	ADJ
cjal-3260	118	37	virtues	virtue	NOUN
cjal-3260	118	38	and	and	CCONJ
cjal-3260	118	39	the	the	DET
cjal-3260	118	40	creation	creation	NOUN
cjal-3260	118	41	of	of	ADP
cjal-3260	118	42	prosperity	prosperity	NOUN
cjal-3260	118	43	(	(	PUNCT
cjal-3260	118	44	1996	1996	NUM
cjal-3260	118	45	)	)	PUNCT
cjal-3260	118	46	;	;	PUNCT
cjal-3260	118	47	see	see	VERB
cjal-3260	118	48	also	also	ADV
cjal-3260	118	49	bernard	bernard	PROPN
cjal-3260	118	50	s.	s.	PROPN
cjal-3260	118	51	black	black	PROPN
cjal-3260	118	52	,	,	PUNCT
cjal-3260	118	53	is	be	AUX
cjal-3260	118	54	this	this	PRON
cjal-3260	118	55	the	the	DET
cjal-3260	118	56	first	first	ADJ
cjal-3260	118	57	international	international	ADJ
cjal-3260	118	58	merger	merger	NOUN
cjal-3260	118	59	wave	wave	NOUN
cjal-3260	118	60	?	?	PUNCT
cjal-3260	118	61	,	,	PUNCT
cjal-3260	118	62	m&a	m&a	PROPN
cjal-3260	118	63	law	law	NOUN
cjal-3260	118	64	.	.	PUNCT
cjal-3260	118	65	,	,	PUNCT
cjal-3260	118	66	july	july	PROPN
cjal-3260	118	67	-	-	PUNCT
cjal-3260	118	68	aug	aug	PROPN
cjal-3260	118	69	.	.	PROPN
cjal-3260	118	70	2000	2000	NUM
cjal-3260	118	71	,	,	PUNCT
cjal-3260	118	72	at	at	ADP
cjal-3260	118	73	20	20	NUM
cjal-3260	118	74	-	-	SYM
cjal-3260	118	75	26	26	NUM
cjal-3260	118	76	.	.	NOUN
cjal-3260	118	77	1	1	NUM
cjal-3260	118	78	see	see	VERB
cjal-3260	118	79	milhaupt	milhaupt	NOUN
cjal-3260	118	80	,	,	PUNCT
cjal-3260	118	81	supra	supra	PROPN
cjal-3260	118	82	note	note	NOUN
cjal-3260	118	83	3	3	NUM
cjal-3260	118	84	,	,	PUNCT
cjal-3260	118	85	at	at	ADP
cjal-3260	118	86	2172	2172	NUM
cjal-3260	118	87	(	(	PUNCT
cjal-3260	118	88	quoting	quote	VERB
cjal-3260	118	89	neil	neil	PROPN
cjal-3260	118	90	fligstein	fligstein	PROPN
cjal-3260	118	91	,	,	PUNCT
cjal-3260	118	92	the	the	DET
cjal-3260	118	93	architecture	architecture	NOUN
cjal-3260	118	94	of	of	ADP
cjal-3260	118	95	markets	market	NOUN
cjal-3260	118	96	:	:	PUNCT
cjal-3260	118	97	an	an	DET
cjal-3260	118	98	economic	economic	ADJ
cjal-3260	118	99	sociology	sociology	NOUN
cjal-3260	118	100	of	of	ADP
cjal-3260	118	101	twenty	twenty	NUM
cjal-3260	118	102	first	first	ADJ
cjal-3260	118	103	century	century	NOUN
cjal-3260	118	104	capitalist	capitalist	ADJ
cjal-3260	118	105	societies	society	NOUN
cjal-3260	118	106	187	187	NUM
cjal-3260	118	107	(	(	PUNCT
cjal-3260	118	108	2001	2001	NUM
cjal-3260	118	109	)	)	PUNCT
cjal-3260	118	110	)	)	PUNCT
cjal-3260	118	111	.	.	PUNCT
cjal-3260	119	1	12	12	NUM
cjal-3260	119	2	for	for	ADP
cjal-3260	119	3	a	a	DET
cjal-3260	119	4	catalogue	catalogue	NOUN
cjal-3260	119	5	of	of	ADP
cjal-3260	119	6	indicators	indicator	NOUN
cjal-3260	119	7	leading	lead	VERB
cjal-3260	119	8	one	one	NUM
cjal-3260	119	9	major	major	ADJ
cjal-3260	119	10	law	law	NOUN
cjal-3260	119	11	fin	fin	NOUN
cjal-3260	119	12	in	in	ADP
cjal-3260	119	13	the	the	DET
cjal-3260	119	14	region	region	NOUN
cjal-3260	119	15	to	to	PART
cjal-3260	119	16	conclude	conclude	VERB
cjal-3260	119	17	that	that	SCONJ
cjal-3260	119	18	mergers	merger	NOUN
cjal-3260	119	19	and	and	CCONJ
cjal-3260	119	20	acquisitions	acquisition	NOUN
cjal-3260	119	21	are	be	AUX
cjal-3260	119	22	an	an	DET
cjal-3260	119	23	emerging	emerge	VERB
cjal-3260	119	24	phenomenon	phenomenon	NOUN
cjal-3260	119	25	in	in	ADP
cjal-3260	119	26	east	east	PROPN
cjal-3260	119	27	asia	asia	PROPN
cjal-3260	119	28	,	,	PUNCT
cjal-3260	119	29	see	see	VERB
cjal-3260	119	30	freshfields	freshfield	NOUN
cjal-3260	119	31	bruckhaus	bruckhaus	PROPN
cjal-3260	119	32	deringer	deringer	PROPN
cjal-3260	119	33	,	,	PUNCT
cjal-3260	119	34	guide	guide	VERB
cjal-3260	119	35	to	to	ADP
cjal-3260	119	36	mergers	merger	NOUN
cjal-3260	119	37	&	&	CCONJ
cjal-3260	119	38	acquisitions	acquisition	NOUN
cjal-3260	119	39	in	in	ADP
cjal-3260	119	40	asia	asia	PROPN
cjal-3260	119	41	4	4	NUM
cjal-3260	119	42	(	(	PUNCT
cjal-3260	119	43	3d	3d	NUM
cjal-3260	119	44	ed	ed	NOUN
cjal-3260	119	45	.	.	PROPN
cjal-3260	119	46	2004	2004	NUM
cjal-3260	119	47	)	)	PUNCT
cjal-3260	119	48	,	,	PUNCT
cjal-3260	119	49	available	available	ADJ
cjal-3260	119	50	at	at	ADP
cjal-3260	119	51	http://www.freshfields.com/places/asia/publications/pdfs/2248.pdf	http://www.freshfields.com/places/asia/publications/pdfs/2248.pdf	PROPN
cjal-3260	119	52	.	.	PUNCT
cjal-3260	120	1	13	13	NUM
cjal-3260	120	2	"	"	PUNCT
cjal-3260	120	3	central	central	ADJ
cjal-3260	120	4	to	to	ADP
cjal-3260	120	5	the	the	DET
cjal-3260	120	6	governance	governance	NOUN
cjal-3260	120	7	role	role	NOUN
cjal-3260	120	8	of	of	ADP
cjal-3260	120	9	takeovers	takeover	NOUN
cjal-3260	120	10	is	be	AUX
cjal-3260	120	11	a	a	DET
cjal-3260	120	12	belief	belief	NOUN
cjal-3260	120	13	that	that	SCONJ
cjal-3260	120	14	takeovers	takeover	NOUN
cjal-3260	120	15	seek	seek	VERB
cjal-3260	120	16	to	to	PART
cjal-3260	120	17	correct	correct	VERB
cjal-3260	120	18	for	for	ADP
cjal-3260	120	19	inadequate	inadequate	ADJ
cjal-3260	120	20	company	company	NOUN
cjal-3260	120	21	performance	performance	NOUN
cjal-3260	120	22	and	and	CCONJ
cjal-3260	120	23	occur	occur	VERB
cjal-3260	120	24	primarily	primarily	ADV
cjal-3260	120	25	to	to	PART
cjal-3260	120	26	reconcile	reconcile	VERB
cjal-3260	120	27	the	the	DET
cjal-3260	120	28	interests	interest	NOUN
cjal-3260	120	29	of	of	ADP
cjal-3260	120	30	shareholders	shareholder	NOUN
cjal-3260	120	31	and	and	CCONJ
cjal-3260	120	32	managers	manager	NOUN
cjal-3260	120	33	by	by	ADP
cjal-3260	120	34	improving	improve	VERB
cjal-3260	120	35	the	the	DET
cjal-3260	120	36	performance	performance	NOUN
cjal-3260	120	37	of	of	ADP
cjal-3260	120	38	target	target	NOUN
cjal-3260	120	39	companies	company	NOUN
cjal-3260	120	40	.	.	PUNCT
cjal-3260	120	41	"	"	PUNCT
cjal-3260	121	1	noel	noel	PROPN
cjal-3260	121	2	o'sullivan	o'sullivan	PROPN
cjal-3260	121	3	&	&	CCONJ
cjal-3260	121	4	pauline	pauline	PROPN
cjal-3260	121	5	wong	wong	PROPN
cjal-3260	121	6	,	,	PUNCT
cjal-3260	121	7	the	the	DET
cjal-3260	121	8	governance	governance	NOUN
cjal-3260	121	9	role	role	NOUN
cjal-3260	121	10	of	of	ADP
cjal-3260	121	11	takeovers	takeover	NOUN
cjal-3260	121	12	,	,	PUNCT
cjal-3260	121	13	in	in	ADP
cjal-3260	121	14	corporate	corporate	ADJ
cjal-3260	121	15	governance	governance	NOUN
cjal-3260	121	16	:	:	PUNCT
cjal-3260	121	17	accountability	accountability	NOUN
cjal-3260	121	18	,	,	PUNCT
cjal-3260	121	19	enterprise	enterprise	NOUN
cjal-3260	121	20	&	&	CCONJ
cjal-3260	121	21	international	international	ADJ
cjal-3260	121	22	comparisons	comparison	NOUN
cjal-3260	121	23	155	155	NUM
cjal-3260	121	24	,	,	PUNCT
cjal-3260	121	25	156	156	NUM
cjal-3260	121	26	(	(	PUNCT
cjal-3260	121	27	kevin	kevin	PROPN
cjal-3260	121	28	keasey	keasey	PROPN
cjal-3260	121	29	et	et	PROPN
cjal-3260	121	30	al	al	PROPN
cjal-3260	121	31	.	.	PUNCT
cjal-3260	121	32	eds	eds	PROPN
cjal-3260	121	33	.	.	PROPN
cjal-3260	121	34	,	,	PUNCT
cjal-3260	121	35	2005	2005	NUM
cjal-3260	121	36	)	)	PUNCT
cjal-3260	121	37	.	.	PUNCT
cjal-3260	121	38	"	"	PUNCT
cjal-3260	122	1	robert	robert	PROPN
cjal-3260	122	2	f.	f.	PROPN
cjal-3260	122	3	bruner	bruner	PROPN
cjal-3260	122	4	,	,	PUNCT
cjal-3260	122	5	applied	apply	VERB
cjal-3260	122	6	mergers	merger	NOUN
cjal-3260	122	7	&	&	CCONJ
cjal-3260	122	8	acquisitions	acquisition	NOUN
cjal-3260	122	9	56	56	NUM
cjal-3260	122	10	(	(	PUNCT
cjal-3260	122	11	2004	2004	NUM
cjal-3260	122	12	)	)	PUNCT
cjal-3260	122	13	.	.	PUNCT
cjal-3260	123	1	2007	2007	NUM
cjal-3260	123	2	]	]	PUNCT
cjal-3260	123	3	columbia	columbia	PROPN
cjal-3260	123	4	journal	journal	PROPN
cjal-3260	123	5	of	of	ADP
cjal-3260	123	6	asian	asian	ADJ
cjal-3260	123	7	law	law	NOUN
cjal-3260	123	8	studies	study	NOUN
cjal-3260	123	9	showing	show	VERB
cjal-3260	123	10	"	"	PUNCT
cjal-3260	123	11	significantly	significantly	ADV
cjal-3260	123	12	positive	positive	ADJ
cjal-3260	123	13	"	"	PUNCT
cjal-3260	123	14	changes	change	NOUN
cjal-3260	123	15	.	.	PUNCT
cjal-3260	124	1	15	15	NUM
cjal-3260	124	2	where	where	SCONJ
cjal-3260	124	3	hostile	hostile	ADJ
cjal-3260	124	4	acquisitions	acquisition	NOUN
cjal-3260	124	5	were	be	AUX
cjal-3260	124	6	defined	define	VERB
cjal-3260	124	7	as	as	ADP
cjal-3260	124	8	tender	tender	NOUN
cjal-3260	124	9	offers	offer	NOUN
cjal-3260	124	10	,	,	PUNCT
cjal-3260	124	11	where	where	SCONJ
cjal-3260	124	12	the	the	DET
cjal-3260	124	13	acquiring	acquire	VERB
cjal-3260	124	14	entities	entity	NOUN
cjal-3260	124	15	made	make	VERB
cjal-3260	124	16	offers	offer	NOUN
cjal-3260	124	17	directly	directly	ADV
cjal-3260	124	18	to	to	PART
cjal-3260	124	19	target	target	VERB
cjal-3260	124	20	shareholders	shareholder	NOUN
cjal-3260	124	21	without	without	ADP
cjal-3260	124	22	friendly	friendly	ADJ
cjal-3260	124	23	board	board	NOUN
cjal-3260	124	24	negotiations	negotiation	NOUN
cjal-3260	124	25	,	,	PUNCT
cjal-3260	124	26	"	"	PUNCT
cjal-3260	124	27	several	several	ADJ
cjal-3260	124	28	studies	study	NOUN
cjal-3260	124	29	report	report	VERB
cjal-3260	124	30	larger	large	ADJ
cjal-3260	124	31	announcement	announcement	NOUN
cjal-3260	124	32	returns	return	NOUN
cjal-3260	124	33	to	to	ADP
cjal-3260	124	34	bidders	bidder	NOUN
cjal-3260	124	35	in	in	ADP
cjal-3260	124	36	tender	tender	ADJ
cjal-3260	124	37	offers	offer	NOUN
cjal-3260	124	38	,	,	PUNCT
cjal-3260	124	39	as	as	SCONJ
cjal-3260	124	40	compared	compare	VERB
cjal-3260	124	41	with	with	ADP
cjal-3260	124	42	friendly	friendly	ADJ
cjal-3260	124	43	negotiated	negotiate	VERB
cjal-3260	124	44	transactions	transaction	NOUN
cjal-3260	124	45	.	.	PUNCT
cjal-3260	125	1	"'1	"'1	PUNCT
cjal-3260	125	2	6	6	NUM
cjal-3260	125	3	research	research	NOUN
cjal-3260	125	4	further	far	ADV
cjal-3260	125	5	suggests	suggest	VERB
cjal-3260	125	6	that	that	SCONJ
cjal-3260	125	7	targets	target	NOUN
cjal-3260	125	8	of	of	ADP
cjal-3260	125	9	hostile	hostile	ADJ
cjal-3260	125	10	tender	tender	NOUN
cjal-3260	125	11	offers	offer	NOUN
cjal-3260	125	12	tend	tend	VERB
cjal-3260	125	13	to	to	PART
cjal-3260	125	14	be	be	AUX
cjal-3260	125	15	underperformers	underperformer	NOUN
cjal-3260	125	16	with	with	ADP
cjal-3260	125	17	relatively	relatively	ADV
cjal-3260	125	18	low	low	ADJ
cjal-3260	125	19	share	share	NOUN
cjal-3260	125	20	prices	price	NOUN
cjal-3260	125	21	,	,	PUNCT
cjal-3260	125	22	so	so	SCONJ
cjal-3260	125	23	that	that	SCONJ
cjal-3260	125	24	"	"	PUNCT
cjal-3260	125	25	the	the	DET
cjal-3260	125	26	better	well	ADJ
cjal-3260	125	27	returns	return	NOUN
cjal-3260	125	28	from	from	ADP
cjal-3260	125	29	tender	tender	NOUN
cjal-3260	125	30	offers	offer	NOUN
cjal-3260	125	31	may	may	AUX
cjal-3260	125	32	reflect	reflect	VERB
cjal-3260	125	33	bargain	bargain	NOUN
cjal-3260	125	34	prices	price	NOUN
cjal-3260	125	35	and/	and/	PROPN
cjal-3260	125	36	or	or	CCONJ
cjal-3260	125	37	the	the	DET
cjal-3260	125	38	economic	economic	ADJ
cjal-3260	125	39	benefits	benefit	NOUN
cjal-3260	125	40	of	of	ADP
cjal-3260	125	41	replacing	replace	VERB
cjal-3260	125	42	management	management	NOUN
cjal-3260	125	43	and	and	CCONJ
cjal-3260	125	44	redirecting	redirect	VERB
cjal-3260	125	45	the	the	DET
cjal-3260	125	46	strategy	strategy	NOUN
cjal-3260	125	47	of	of	ADP
cjal-3260	125	48	the	the	DET
cjal-3260	125	49	firm	firm	NOUN
cjal-3260	125	50	.	.	PUNCT
cjal-3260	125	51	'	'	PUNCT
cjal-3260	126	1	17	17	NUM
cjal-3260	126	2	however	however	ADV
cjal-3260	126	3	,	,	PUNCT
cjal-3260	126	4	there	there	PRON
cjal-3260	126	5	is	be	VERB
cjal-3260	126	6	some	some	DET
cjal-3260	126	7	skepticism	skepticism	NOUN
cjal-3260	126	8	about	about	ADP
cjal-3260	126	9	the	the	DET
cjal-3260	126	10	lessons	lesson	NOUN
cjal-3260	126	11	to	to	PART
cjal-3260	126	12	draw	draw	VERB
cjal-3260	126	13	from	from	ADP
cjal-3260	126	14	the	the	DET
cjal-3260	126	15	wealth	wealth	NOUN
cjal-3260	126	16	of	of	ADP
cjal-3260	126	17	studies	study	NOUN
cjal-3260	126	18	of	of	ADP
cjal-3260	126	19	hostile	hostile	ADJ
cjal-3260	126	20	acquisition	acquisition	NOUN
cjal-3260	126	21	targets	target	NOUN
cjal-3260	126	22	.	.	PUNCT
cjal-3260	127	1	o'sullivan	o'sullivan	PROPN
cjal-3260	127	2	and	and	CCONJ
cjal-3260	127	3	wong	wong	PROPN
cjal-3260	127	4	conclude	conclude	VERB
cjal-3260	127	5	that	that	SCONJ
cjal-3260	127	6	the	the	DET
cjal-3260	127	7	data	data	NOUN
cjal-3260	127	8	is	be	AUX
cjal-3260	127	9	ultimately	ultimately	ADV
cjal-3260	127	10	inconclusive	inconclusive	ADJ
cjal-3260	127	11	as	as	ADP
cjal-3260	127	12	to	to	ADP
cjal-3260	127	13	whether	whether	SCONJ
cjal-3260	127	14	hostile	hostile	ADJ
cjal-3260	127	15	acquisition	acquisition	NOUN
cjal-3260	127	16	candidates	candidate	NOUN
cjal-3260	127	17	perform	perform	VERB
cjal-3260	127	18	worse	bad	ADJ
cjal-3260	127	19	pre	pre	ADJ
cjal-3260	127	20	-	-	ADJ
cjal-3260	127	21	bid	bid	ADJ
cjal-3260	127	22	than	than	ADP
cjal-3260	127	23	other	other	ADJ
cjal-3260	127	24	non	non	ADJ
cjal-3260	127	25	-	-	ADJ
cjal-3260	127	26	target	target	ADJ
cjal-3260	127	27	companies	company	NOUN
cjal-3260	127	28	.	.	PUNCT
cjal-3260	128	1	18	18	NUM
cjal-3260	128	2	looking	look	VERB
cjal-3260	128	3	only	only	ADV
cjal-3260	128	4	at	at	ADP
cjal-3260	128	5	targets	target	NOUN
cjal-3260	128	6	where	where	SCONJ
cjal-3260	128	7	managers	manager	NOUN
cjal-3260	128	8	are	be	AUX
cjal-3260	128	9	replaced	replace	VERB
cjal-3260	128	10	after	after	ADP
cjal-3260	128	11	the	the	DET
cjal-3260	128	12	bid	bid	NOUN
cjal-3260	128	13	,	,	PUNCT
cjal-3260	128	14	the	the	DET
cjal-3260	128	15	extensive	extensive	ADJ
cjal-3260	128	16	finance	finance	NOUN
cjal-3260	128	17	literature	literature	NOUN
cjal-3260	128	18	does	do	AUX
cjal-3260	128	19	provide	provide	VERB
cjal-3260	128	20	support	support	NOUN
cjal-3260	128	21	for	for	ADP
cjal-3260	128	22	weaker	weak	ADJ
cjal-3260	128	23	pre	pre	ADJ
cjal-3260	128	24	-	-	ADJ
cjal-3260	128	25	takeover	takeover	ADJ
cjal-3260	128	26	firm	firm	NOUN
cjal-3260	128	27	performance.19	performance.19	VERB
cjal-3260	128	28	empirical	empirical	ADJ
cjal-3260	128	29	confirmation	confirmation	NOUN
cjal-3260	128	30	is	be	AUX
cjal-3260	128	31	also	also	ADV
cjal-3260	128	32	hard	hard	ADJ
cjal-3260	128	33	to	to	PART
cjal-3260	128	34	trust	trust	VERB
cjal-3260	128	35	.	.	PUNCT
cjal-3260	129	1	while	while	SCONJ
cjal-3260	129	2	some	some	DET
cjal-3260	129	3	studies	study	NOUN
cjal-3260	129	4	that	that	PRON
cjal-3260	129	5	use	use	VERB
cjal-3260	129	6	accounting	accounting	NOUN
cjal-3260	129	7	returns	return	NOUN
cjal-3260	129	8	as	as	ADP
cjal-3260	129	9	indicators	indicator	NOUN
cjal-3260	129	10	of	of	ADP
cjal-3260	129	11	business	business	NOUN
cjal-3260	129	12	performance	performance	NOUN
cjal-3260	129	13	,	,	PUNCT
cjal-3260	129	14	and	and	CCONJ
cjal-3260	129	15	others	other	NOUN
cjal-3260	129	16	that	that	PRON
cjal-3260	129	17	study	study	VERB
cjal-3260	129	18	market	market	NOUN
cjal-3260	129	19	value	value	NOUN
cjal-3260	129	20	in	in	ADP
cjal-3260	129	21	the	the	DET
cjal-3260	129	22	form	form	NOUN
cjal-3260	129	23	of	of	ADP
cjal-3260	129	24	stock	stock	NOUN
cjal-3260	129	25	prices	price	NOUN
cjal-3260	129	26	or	or	CCONJ
cjal-3260	129	27	tobin	tobin	NOUN
cjal-3260	129	28	's	's	PART
cjal-3260	129	29	q	q	NOUN
cjal-3260	129	30	ratio	ratio	NOUN
cjal-3260	129	31	comparing	compare	VERB
cjal-3260	129	32	market	market	NOUN
cjal-3260	129	33	value	value	NOUN
cjal-3260	129	34	to	to	ADP
cjal-3260	129	35	the	the	DET
cjal-3260	129	36	book	book	NOUN
cjal-3260	129	37	value	value	NOUN
cjal-3260	129	38	of	of	ADP
cjal-3260	129	39	assets	asset	NOUN
cjal-3260	129	40	are	be	AUX
cjal-3260	129	41	supportive	supportive	ADJ
cjal-3260	129	42	,	,	PUNCT
cjal-3260	129	43	the	the	DET
cjal-3260	129	44	proposition	proposition	NOUN
cjal-3260	129	45	that	that	SCONJ
cjal-3260	129	46	acquirers	acquirer	NOUN
cjal-3260	129	47	improve	improve	VERB
cjal-3260	129	48	the	the	DET
cjal-3260	129	49	market	market	NOUN
cjal-3260	129	50	and	and	CCONJ
cjal-3260	129	51	social	social	ADJ
cjal-3260	129	52	value	value	NOUN
cjal-3260	129	53	of	of	ADP
cjal-3260	129	54	the	the	DET
cjal-3260	129	55	acquired	acquire	VERB
cjal-3260	129	56	firm	firm	NOUN
cjal-3260	129	57	is	be	AUX
cjal-3260	129	58	complicated	complicate	VERB
cjal-3260	129	59	by	by	ADP
cjal-3260	129	60	the	the	DET
cjal-3260	129	61	entanglement	entanglement	NOUN
cjal-3260	129	62	of	of	ADP
cjal-3260	129	63	other	other	ADJ
cjal-3260	129	64	factors	factor	NOUN
cjal-3260	129	65	surrounding	surround	VERB
cjal-3260	129	66	the	the	DET
cjal-3260	129	67	takeover	takeover	NOUN
cjal-3260	129	68	.	.	PUNCT
cjal-3260	130	1	studies	study	NOUN
cjal-3260	130	2	of	of	ADP
cjal-3260	130	3	companies	company	NOUN
cjal-3260	130	4	'	'	PART
cjal-3260	130	5	stock	stock	NOUN
cjal-3260	130	6	prices	price	NOUN
cjal-3260	130	7	when	when	SCONJ
cjal-3260	130	8	they	they	PRON
cjal-3260	130	9	adopt	adopt	VERB
cjal-3260	130	10	new	new	ADJ
cjal-3260	130	11	defensive	defensive	ADJ
cjal-3260	130	12	measures	measure	NOUN
cjal-3260	130	13	offer	offer	VERB
cjal-3260	130	14	a	a	DET
cjal-3260	130	15	clear	clear	ADJ
cjal-3260	130	16	indication	indication	NOUN
cjal-3260	130	17	of	of	ADP
cjal-3260	130	18	how	how	SCONJ
cjal-3260	130	19	the	the	DET
cjal-3260	130	20	market	market	NOUN
cjal-3260	130	21	reacts	react	VERB
cjal-3260	130	22	to	to	ADP
cjal-3260	130	23	such	such	ADJ
cjal-3260	130	24	measures	measure	NOUN
cjal-3260	130	25	.	.	PUNCT
cjal-3260	131	1	almost	almost	ADV
cjal-3260	131	2	without	without	ADP
cjal-3260	131	3	exception	exception	NOUN
cjal-3260	131	4	,	,	PUNCT
cjal-3260	131	5	stock	stock	NOUN
cjal-3260	131	6	prices	price	NOUN
cjal-3260	131	7	dip	dip	VERB
cjal-3260	131	8	in	in	ADP
cjal-3260	131	9	the	the	DET
cjal-3260	131	10	wake	wake	NOUN
cjal-3260	131	11	of	of	ADP
cjal-3260	131	12	news	news	NOUN
cjal-3260	131	13	that	that	SCONJ
cjal-3260	131	14	firms	firm	NOUN
cjal-3260	131	15	have	have	AUX
cjal-3260	131	16	chosen	choose	VERB
cjal-3260	131	17	to	to	PART
cjal-3260	131	18	adopt	adopt	VERB
cjal-3260	131	19	anti	anti	ADJ
cjal-3260	131	20	-	-	ADJ
cjal-3260	131	21	takeover	takeover	ADJ
cjal-3260	131	22	measures.20	measures.20	PROPN
cjal-3260	131	23	bebchuk	bebchuk	NOUN
cjal-3260	131	24	and	and	CCONJ
cjal-3260	131	25	cohen	cohen	PROPN
cjal-3260	131	26	find	find	VERB
cjal-3260	131	27	that	that	SCONJ
cjal-3260	131	28	staggered	staggered	ADJ
cjal-3260	131	29	boards	board	NOUN
cjal-3260	131	30	,	,	PUNCT
cjal-3260	131	31	while	while	SCONJ
cjal-3260	131	32	concededly	concededly	ADV
cjal-3260	131	33	quite	quite	ADV
cjal-3260	131	34	effective	effective	ADJ
cjal-3260	131	35	in	in	ADP
cjal-3260	131	36	meeting	meet	VERB
cjal-3260	131	37	their	their	PRON
cjal-3260	131	38	purpose	purpose	NOUN
cjal-3260	131	39	of	of	ADP
cjal-3260	131	40	insulating	insulate	VERB
cjal-3260	131	41	sitting	sitting	NOUN
cjal-3260	131	42	board	board	NOUN
cjal-3260	131	43	members	member	NOUN
cjal-3260	131	44	,	,	PUNCT
cjal-3260	131	45	are	be	AUX
cjal-3260	131	46	associated	associate	VERB
cjal-3260	131	47	with	with	ADP
cjal-3260	131	48	"	"	PUNCT
cjal-3260	131	49	an	an	DET
cjal-3260	131	50	economically	economically	ADV
cjal-3260	131	51	meaningful	meaningful	ADJ
cjal-3260	131	52	reduction	reduction	NOUN
cjal-3260	131	53	in	in	ADP
cjal-3260	131	54	firm	firm	ADJ
cjal-3260	131	55	value	value	NOUN
cjal-3260	131	56	(	(	PUNCT
cjal-3260	131	57	as	as	ADP
cjal-3260	131	58	measured	measure	VERB
cjal-3260	131	59	'	'	NUM
cjal-3260	131	60	5	5	NUM
cjal-3260	131	61	i	i	PROPN
cjal-3260	131	62	d.	d.	PROPN
cjal-3260	131	63	at	at	ADP
cjal-3260	131	64	57	57	NUM
cjal-3260	131	65	.	.	PUNCT
cjal-3260	132	1	16	16	NUM
cjal-3260	133	1	i	i	PROPN
cjal-3260	133	2	d.	d.	PROPN
cjal-3260	133	3	171d	171d	PROPN
cjal-3260	133	4	.	.	PUNCT
cjal-3260	134	1	18	18	NUM
cjal-3260	134	2	o'sullivan	o'sullivan	PROPN
cjal-3260	134	3	&	&	CCONJ
cjal-3260	134	4	wong	wong	PROPN
cjal-3260	134	5	,	,	PUNCT
cjal-3260	134	6	supra	supra	PROPN
cjal-3260	134	7	note	note	PROPN
cjal-3260	134	8	13	13	NUM
cjal-3260	134	9	.	.	SYM
cjal-3260	134	10	19	19	NUM
cjal-3260	134	11	see	see	VERB
cjal-3260	134	12	kenneth	kenneth	PROPN
cjal-3260	134	13	j.	j.	PROPN
cjal-3260	134	14	martin	martin	PROPN
cjal-3260	134	15	&	&	CCONJ
cjal-3260	134	16	john	john	PROPN
cjal-3260	134	17	j.	j.	PROPN
cjal-3260	134	18	mcconnell	mcconnell	PROPN
cjal-3260	134	19	,	,	PUNCT
cjal-3260	134	20	corporate	corporate	ADJ
cjal-3260	134	21	performance	performance	NOUN
cjal-3260	134	22	,	,	PUNCT
cjal-3260	134	23	corporate	corporate	ADJ
cjal-3260	134	24	takeovers	takeover	NOUN
cjal-3260	134	25	,	,	PUNCT
cjal-3260	134	26	and	and	CCONJ
cjal-3260	134	27	management	management	NOUN
cjal-3260	134	28	turnover	turnover	NOUN
cjal-3260	134	29	,	,	PUNCT
cjal-3260	134	30	46	46	NUM
cjal-3260	134	31	j.	j.	PROPN
cjal-3260	134	32	fin	fin	PROPN
cjal-3260	134	33	.	.	PUNCT
cjal-3260	135	1	671	671	NUM
cjal-3260	135	2	(	(	PUNCT
cjal-3260	135	3	1991	1991	NUM
cjal-3260	135	4	)	)	PUNCT
cjal-3260	135	5	;	;	PUNCT
cjal-3260	135	6	see	see	VERB
cjal-3260	135	7	also	also	ADV
cjal-3260	135	8	omesh	omesh	PROPN
cjal-3260	135	9	kini	kini	PROPN
cjal-3260	135	10	,	,	PUNCT
cjal-3260	135	11	william	william	PROPN
cjal-3260	135	12	kracaw	kracaw	PROPN
cjal-3260	135	13	&	&	CCONJ
cjal-3260	135	14	shehzad	shehzad	PROPN
cjal-3260	135	15	mian	mian	PROPN
cjal-3260	135	16	,	,	PUNCT
cjal-3260	135	17	the	the	DET
cjal-3260	135	18	nature	nature	NOUN
cjal-3260	135	19	of	of	ADP
cjal-3260	135	20	discipline	discipline	NOUN
cjal-3260	135	21	by	by	ADP
cjal-3260	135	22	corporate	corporate	ADJ
cjal-3260	135	23	takeovers	takeover	NOUN
cjal-3260	135	24	,	,	PUNCT
cjal-3260	135	25	59	59	NUM
cjal-3260	135	26	j.	j.	PROPN
cjal-3260	135	27	fin	fin	PROPN
cjal-3260	135	28	.	.	PUNCT
cjal-3260	136	1	1511	1511	NUM
cjal-3260	136	2	(	(	PUNCT
cjal-3260	136	3	2004	2004	NUM
cjal-3260	136	4	)	)	PUNCT
cjal-3260	136	5	.	.	PUNCT
cjal-3260	137	1	20	20	NUM
cjal-3260	137	2	frank	frank	PROPN
cjal-3260	137	3	h.	h.	PROPN
cjal-3260	137	4	easterbrook	easterbrook	PROPN
cjal-3260	137	5	&	&	CCONJ
cjal-3260	137	6	daniel	daniel	PROPN
cjal-3260	137	7	r.	r.	PROPN
cjal-3260	137	8	fischel	fischel	PROPN
cjal-3260	137	9	,	,	PUNCT
cjal-3260	137	10	the	the	DET
cjal-3260	137	11	economic	economic	ADJ
cjal-3260	137	12	structure	structure	NOUN
cjal-3260	137	13	of	of	ADP
cjal-3260	137	14	corporate	corporate	ADJ
cjal-3260	137	15	law	law	NOUN
cjal-3260	137	16	196	196	NUM
cjal-3260	137	17	(	(	PUNCT
cjal-3260	137	18	1991	1991	NUM
cjal-3260	137	19	)	)	PUNCT
cjal-3260	137	20	.	.	PUNCT
cjal-3260	138	1	[	[	X
cjal-3260	138	2	20:2	20:2	NUM
cjal-3260	138	3	national	national	ADJ
cjal-3260	138	4	markets	market	NOUN
cjal-3260	138	5	,	,	PUNCT
cjal-3260	138	6	new	new	ADJ
cjal-3260	138	7	defenses	defense	NOUN
cjal-3260	138	8	by	by	ADP
cjal-3260	138	9	tobin	tobin	NOUN
cjal-3260	138	10	's	's	PART
cjal-3260	138	11	q	q	NOUN
cjal-3260	138	12	)	)	PUNCT
cjal-3260	138	13	...	...	PUNCT
cjal-3260	139	1	[	[	X
cjal-3260	139	2	and	and	CCONJ
cjal-3260	139	3	]	]	PUNCT
cjal-3260	139	4	that	that	SCONJ
cjal-3260	139	5	staggered	stagger	VERB
cjal-3260	139	6	boards	board	NOUN
cjal-3260	139	7	bring	bring	VERB
cjal-3260	139	8	about	about	ADV
cjal-3260	139	9	,	,	PUNCT
cjal-3260	139	10	and	and	CCONJ
cjal-3260	139	11	not	not	PART
cjal-3260	139	12	merely	merely	ADV
cjal-3260	139	13	reflect	reflect	VERB
cjal-3260	139	14	,	,	PUNCT
cjal-3260	139	15	a	a	DET
cjal-3260	139	16	reduced	reduced	ADJ
cjal-3260	139	17	firm	firm	ADJ
cjal-3260	139	18	value	value	NOUN
cjal-3260	139	19	.	.	PUNCT
cjal-3260	140	1	,	,	PUNCT
cjal-3260	140	2	21	21	NUM
cjal-3260	140	3	if	if	SCONJ
cjal-3260	140	4	an	an	DET
cjal-3260	140	5	active	active	ADJ
cjal-3260	140	6	market	market	NOUN
cjal-3260	140	7	for	for	ADP
cjal-3260	140	8	corporate	corporate	ADJ
cjal-3260	140	9	control	control	NOUN
cjal-3260	140	10	is	be	AUX
cjal-3260	140	11	a	a	DET
cjal-3260	140	12	public	public	ADJ
cjal-3260	140	13	good	good	NOUN
cjal-3260	140	14	,	,	PUNCT
cjal-3260	140	15	then	then	ADV
cjal-3260	140	16	what	what	PRON
cjal-3260	140	17	is	be	AUX
cjal-3260	140	18	the	the	DET
cjal-3260	140	19	best	good	ADJ
cjal-3260	140	20	way	way	NOUN
cjal-3260	140	21	to	to	PART
cjal-3260	140	22	facilitate	facilitate	VERB
cjal-3260	140	23	the	the	DET
cjal-3260	140	24	market	market	NOUN
cjal-3260	140	25	's	's	PART
cjal-3260	140	26	development	development	NOUN
cjal-3260	140	27	and	and	CCONJ
cjal-3260	140	28	to	to	ADP
cjal-3260	140	29	what	what	DET
cjal-3260	140	30	extent	extent	NOUN
cjal-3260	140	31	is	be	AUX
cjal-3260	140	32	protection	protection	NOUN
cjal-3260	140	33	from	from	ADP
cjal-3260	140	34	hostile	hostile	ADJ
cjal-3260	140	35	foreign	foreign	ADJ
cjal-3260	140	36	capital	capital	NOUN
cjal-3260	140	37	warranted	warrant	VERB
cjal-3260	140	38	?	?	PUNCT
cjal-3260	141	1	based	base	VERB
cjal-3260	141	2	on	on	ADP
cjal-3260	141	3	the	the	DET
cjal-3260	141	4	recognition	recognition	NOUN
cjal-3260	141	5	of	of	ADP
cjal-3260	141	6	the	the	DET
cjal-3260	141	7	"	"	PUNCT
cjal-3260	141	8	governance	governance	NOUN
cjal-3260	141	9	value	value	NOUN
cjal-3260	141	10	"	"	PUNCT
cjal-3260	141	11	of	of	ADP
cjal-3260	141	12	an	an	DET
cjal-3260	141	13	active	active	ADJ
cjal-3260	141	14	market	market	NOUN
cjal-3260	141	15	for	for	ADP
cjal-3260	141	16	corporate	corporate	ADJ
cjal-3260	141	17	control	control	NOUN
cjal-3260	141	18	,	,	PUNCT
cjal-3260	141	19	western	western	ADJ
cjal-3260	141	20	markets	market	NOUN
cjal-3260	141	21	tolerate	tolerate	VERB
cjal-3260	141	22	and	and	CCONJ
cjal-3260	141	23	in	in	ADP
cjal-3260	141	24	some	some	DET
cjal-3260	141	25	quarters	quarter	NOUN
cjal-3260	141	26	,	,	PUNCT
cjal-3260	141	27	wholeheartedly	wholeheartedly	ADV
cjal-3260	141	28	endorse	endorse	VERB
cjal-3260	141	29	shareholder	shareholder	NOUN
cjal-3260	141	30	battles	battle	NOUN
cjal-3260	141	31	for	for	ADP
cjal-3260	141	32	control	control	NOUN
cjal-3260	141	33	of	of	ADP
cjal-3260	141	34	corporate	corporate	ADJ
cjal-3260	141	35	assets	asset	NOUN
cjal-3260	141	36	.	.	PUNCT
cjal-3260	142	1	in	in	ADP
cjal-3260	142	2	markets	market	NOUN
cjal-3260	142	3	with	with	ADP
cjal-3260	142	4	active	active	ADJ
cjal-3260	142	5	control	control	NOUN
cjal-3260	142	6	contests	contest	NOUN
cjal-3260	142	7	,	,	PUNCT
cjal-3260	142	8	corporate	corporate	ADJ
cjal-3260	142	9	and	and	CCONJ
cjal-3260	142	10	securities	security	NOUN
cjal-3260	142	11	laws	law	NOUN
cjal-3260	142	12	have	have	AUX
cjal-3260	142	13	evolved	evolve	VERB
cjal-3260	142	14	in	in	ADP
cjal-3260	142	15	response	response	NOUN
cjal-3260	142	16	to	to	ADP
cjal-3260	142	17	innovative	innovative	ADJ
cjal-3260	142	18	financial	financial	ADJ
cjal-3260	142	19	engineering	engineering	NOUN
cjal-3260	142	20	and	and	CCONJ
cjal-3260	142	21	corporate	corporate	ADJ
cjal-3260	142	22	maneuvering	maneuvering	NOUN
cjal-3260	142	23	initiated	initiate	VERB
cjal-3260	142	24	by	by	ADP
cjal-3260	142	25	companies	company	NOUN
cjal-3260	142	26	,	,	PUNCT
cjal-3260	142	27	lawyers	lawyer	NOUN
cjal-3260	142	28	and	and	CCONJ
cjal-3260	142	29	investment	investment	NOUN
cjal-3260	142	30	banks	bank	NOUN
cjal-3260	142	31	.	.	PUNCT
cjal-3260	143	1	the	the	DET
cjal-3260	143	2	evolutionary	evolutionary	ADJ
cjal-3260	143	3	history	history	NOUN
cjal-3260	143	4	now	now	ADV
cjal-3260	143	5	offers	offer	VERB
cjal-3260	143	6	a	a	DET
cjal-3260	143	7	rich	rich	ADJ
cjal-3260	143	8	vein	vein	NOUN
cjal-3260	143	9	for	for	ADP
cjal-3260	143	10	study	study	NOUN
cjal-3260	143	11	by	by	ADP
cjal-3260	143	12	policymakers	policymaker	NOUN
cjal-3260	143	13	and	and	CCONJ
cjal-3260	143	14	players	player	NOUN
cjal-3260	143	15	in	in	ADP
cjal-3260	143	16	developing	develop	VERB
cjal-3260	143	17	capital	capital	NOUN
cjal-3260	143	18	markets	market	NOUN
cjal-3260	143	19	,	,	PUNCT
cjal-3260	143	20	both	both	CCONJ
cjal-3260	143	21	in	in	ADP
cjal-3260	143	22	terms	term	NOUN
cjal-3260	143	23	of	of	ADP
cjal-3260	143	24	takeover	takeover	NOUN
cjal-3260	143	25	methods	method	NOUN
cjal-3260	143	26	and	and	CCONJ
cjal-3260	143	27	defensive	defensive	ADJ
cjal-3260	143	28	measures	measure	NOUN
cjal-3260	143	29	that	that	PRON
cjal-3260	143	30	companies	company	NOUN
cjal-3260	143	31	may	may	AUX
cjal-3260	143	32	employ	employ	VERB
cjal-3260	143	33	,	,	PUNCT
cjal-3260	143	34	and	and	CCONJ
cjal-3260	143	35	in	in	ADP
cjal-3260	143	36	terms	term	NOUN
cjal-3260	143	37	of	of	ADP
cjal-3260	143	38	the	the	DET
cjal-3260	143	39	array	array	NOUN
cjal-3260	143	40	of	of	ADP
cjal-3260	143	41	legal	legal	ADJ
cjal-3260	143	42	instruments	instrument	NOUN
cjal-3260	143	43	including	include	VERB
cjal-3260	143	44	statutes	statute	NOUN
cjal-3260	143	45	,	,	PUNCT
cjal-3260	143	46	rules	rule	NOUN
cjal-3260	143	47	,	,	PUNCT
cjal-3260	143	48	policies	policy	NOUN
cjal-3260	143	49	,	,	PUNCT
cjal-3260	143	50	and	and	CCONJ
cjal-3260	143	51	judicially	judicially	ADV
cjal-3260	143	52	created	create	VERB
cjal-3260	143	53	standards	standard	NOUN
cjal-3260	143	54	available	available	ADJ
cjal-3260	143	55	to	to	ADP
cjal-3260	143	56	policymakers	policymaker	NOUN
cjal-3260	143	57	and	and	CCONJ
cjal-3260	143	58	regulators	regulator	NOUN
cjal-3260	143	59	.	.	PUNCT
cjal-3260	144	1	the	the	DET
cjal-3260	144	2	experience	experience	NOUN
cjal-3260	144	3	runs	run	VERB
cjal-3260	144	4	from	from	ADP
cjal-3260	144	5	wachtell	wachtell	PROPN
cjal-3260	144	6	lipton	lipton	PROPN
cjal-3260	144	7	's	's	PART
cjal-3260	144	8	invention	invention	NOUN
cjal-3260	144	9	of	of	ADP
cjal-3260	144	10	the	the	DET
cjal-3260	144	11	poison	poison	NOUN
cjal-3260	144	12	pill	pill	NOUN
cjal-3260	144	13	in	in	ADP
cjal-3260	144	14	1982	1982	NUM
cjal-3260	144	15	,	,	PUNCT
cjal-3260	144	16	through	through	ADP
cjal-3260	144	17	the	the	DET
cjal-3260	144	18	european	european	PROPN
cjal-3260	144	19	union	union	PROPN
cjal-3260	144	20	's	's	PART
cjal-3260	144	21	years	year	NOUN
cjal-3260	144	22	of	of	ADP
cjal-3260	144	23	debate	debate	NOUN
cjal-3260	144	24	on	on	ADP
cjal-3260	144	25	the	the	DET
cjal-3260	144	26	prudence	prudence	NOUN
cjal-3260	144	27	of	of	ADP
cjal-3260	144	28	"	"	PUNCT
cjal-3260	144	29	breaking	break	VERB
cjal-3260	144	30	through	through	ADP
cjal-3260	144	31	"	"	PUNCT
cjal-3260	144	32	long	long	ADV
cjal-3260	144	33	-	-	PUNCT
cjal-3260	144	34	held	hold	VERB
cjal-3260	144	35	corporate	corporate	ADJ
cjal-3260	144	36	control	control	NOUN
cjal-3260	144	37	mechanisms	mechanism	NOUN
cjal-3260	144	38	,	,	PUNCT
cjal-3260	144	39	coming	come	VERB
cjal-3260	144	40	fullcircle	fullcircle	NOUN
cjal-3260	144	41	with	with	ADP
cjal-3260	144	42	japan	japan	PROPN
cjal-3260	144	43	's	's	PART
cjal-3260	144	44	takeover	takeover	NOUN
cjal-3260	144	45	guidelines	guideline	NOUN
cjal-3260	144	46	of	of	ADP
cjal-3260	144	47	2005	2005	NUM
cjal-3260	144	48	.	.	PUNCT
cjal-3260	145	1	while	while	SCONJ
cjal-3260	145	2	the	the	DET
cjal-3260	145	3	growth	growth	NOUN
cjal-3260	145	4	of	of	ADP
cjal-3260	145	5	international	international	ADJ
cjal-3260	145	6	mergers	merger	NOUN
cjal-3260	145	7	and	and	CCONJ
cjal-3260	145	8	acquisitions	acquisition	NOUN
cjal-3260	145	9	will	will	AUX
cjal-3260	145	10	doubtless	doubtless	VERB
cjal-3260	145	11	lead	lead	VERB
cjal-3260	145	12	to	to	ADP
cjal-3260	145	13	the	the	DET
cjal-3260	145	14	development	development	NOUN
cjal-3260	145	15	of	of	ADP
cjal-3260	145	16	new	new	ADJ
cjal-3260	145	17	adaptive	adaptive	ADJ
cjal-3260	145	18	responses	response	NOUN
cjal-3260	145	19	in	in	ADP
cjal-3260	145	20	new	new	ADJ
cjal-3260	145	21	environments	environment	NOUN
cjal-3260	145	22	,	,	PUNCT
cjal-3260	145	23	the	the	DET
cjal-3260	145	24	policy	policy	NOUN
cjal-3260	145	25	considerations	consideration	NOUN
cjal-3260	145	26	are	be	AUX
cjal-3260	145	27	rather	rather	ADV
cjal-3260	145	28	uniform	uniform	ADJ
cjal-3260	145	29	in	in	ADP
cjal-3260	145	30	any	any	DET
cjal-3260	145	31	legal	legal	ADJ
cjal-3260	145	32	setting	setting	NOUN
cjal-3260	145	33	:	:	PUNCT
cjal-3260	145	34	who	who	PRON
cjal-3260	145	35	should	should	AUX
cjal-3260	145	36	determine	determine	VERB
cjal-3260	145	37	whether	whether	SCONJ
cjal-3260	145	38	a	a	DET
cjal-3260	145	39	company	company	NOUN
cjal-3260	145	40	is	be	AUX
cjal-3260	145	41	for	for	ADP
cjal-3260	145	42	sale	sale	NOUN
cjal-3260	145	43	?	?	PUNCT
cjal-3260	146	1	which	which	DET
cjal-3260	146	2	corporate	corporate	ADJ
cjal-3260	146	3	group	group	NOUN
cjal-3260	146	4	gets	get	VERB
cjal-3260	146	5	to	to	PART
cjal-3260	146	6	decide	decide	VERB
cjal-3260	146	7	whether	whether	SCONJ
cjal-3260	146	8	a	a	DET
cjal-3260	146	9	premium	premium	NOUN
cjal-3260	146	10	offer	offer	NOUN
cjal-3260	146	11	is	be	AUX
cjal-3260	146	12	not	not	PART
cjal-3260	146	13	in	in	ADP
cjal-3260	146	14	the	the	DET
cjal-3260	146	15	company	company	NOUN
cjal-3260	146	16	's	's	PART
cjal-3260	146	17	best	good	ADJ
cjal-3260	146	18	interest	interest	NOUN
cjal-3260	146	19	the	the	DET
cjal-3260	146	20	board	board	NOUN
cjal-3260	146	21	,	,	PUNCT
cjal-3260	146	22	a	a	DET
cjal-3260	146	23	controlling	control	VERB
cjal-3260	146	24	shareholder	shareholder	NOUN
cjal-3260	146	25	,	,	PUNCT
cjal-3260	146	26	or	or	CCONJ
cjal-3260	146	27	a	a	DET
cjal-3260	146	28	majority	majority	NOUN
cjal-3260	146	29	of	of	ADP
cjal-3260	146	30	shareholders	shareholder	NOUN
cjal-3260	146	31	?	?	PUNCT
cjal-3260	147	1	and	and	CCONJ
cjal-3260	147	2	under	under	ADP
cjal-3260	147	3	what	what	DET
cjal-3260	147	4	conditions	condition	NOUN
cjal-3260	147	5	should	should	AUX
cjal-3260	147	6	defensive	defensive	ADJ
cjal-3260	147	7	measures	measure	NOUN
cjal-3260	147	8	be	be	AUX
cjal-3260	147	9	available	available	ADJ
cjal-3260	147	10	to	to	ADP
cjal-3260	147	11	incumbent	incumbent	ADJ
cjal-3260	147	12	managers	manager	NOUN
cjal-3260	147	13	?	?	PUNCT
cjal-3260	148	1	sale	sale	NOUN
cjal-3260	148	2	of	of	ADP
cjal-3260	148	3	the	the	DET
cjal-3260	148	4	business	business	NOUN
cjal-3260	148	5	presents	present	VERB
cjal-3260	148	6	the	the	DET
cjal-3260	148	7	threat	threat	NOUN
cjal-3260	148	8	of	of	ADP
cjal-3260	148	9	an	an	DET
cjal-3260	148	10	endgame	endgame	NOUN
cjal-3260	148	11	in	in	ADP
cjal-3260	148	12	which	which	PRON
cjal-3260	148	13	the	the	DET
cjal-3260	148	14	controller	controller	NOUN
cjal-3260	148	15	must	must	AUX
cjal-3260	148	16	discount	discount	VERB
cjal-3260	148	17	all	all	DET
cjal-3260	148	18	future	future	ADJ
cjal-3260	148	19	private	private	ADJ
cjal-3260	148	20	benefits	benefit	NOUN
cjal-3260	148	21	of	of	ADP
cjal-3260	148	22	control	control	NOUN
cjal-3260	148	23	to	to	PART
cjal-3260	148	24	be	be	AUX
cjal-3260	148	25	convinced	convince	VERB
cjal-3260	148	26	to	to	PART
cjal-3260	148	27	sell	sell	VERB
cjal-3260	148	28	now	now	ADV
cjal-3260	148	29	.	.	PUNCT
cjal-3260	149	1	the	the	DET
cjal-3260	149	2	form	form	NOUN
cjal-3260	149	3	of	of	ADP
cjal-3260	149	4	a	a	DET
cjal-3260	149	5	buyout	buyout	NOUN
cjal-3260	149	6	offer	offer	NOUN
cjal-3260	149	7	must	must	AUX
cjal-3260	149	8	somehow	somehow	ADV
cjal-3260	149	9	compensate	compensate	VERB
cjal-3260	149	10	the	the	DET
cjal-3260	149	11	controller	controller	NOUN
cjal-3260	149	12	for	for	ADP
cjal-3260	149	13	giving	give	VERB
cjal-3260	149	14	up	up	ADP
cjal-3260	149	15	the	the	DET
cjal-3260	149	16	private	private	ADJ
cjal-3260	149	17	benefits	benefit	NOUN
cjal-3260	149	18	of	of	ADP
cjal-3260	149	19	the	the	DET
cjal-3260	149	20	controlling	control	VERB
cjal-3260	149	21	-	-	PUNCT
cjal-3260	149	22	minority	minority	NOUN
cjal-3260	149	23	-	-	PUNCT
cjal-3260	149	24	shareholder	shareholder	NOUN
cjal-3260	149	25	(	(	PUNCT
cjal-3260	149	26	cms	cms	NOUN
cjal-3260	149	27	)	)	PUNCT
cjal-3260	149	28	position.22	position.22	VERB
cjal-3260	149	29	a	a	DET
cjal-3260	149	30	simple	simple	ADJ
cjal-3260	149	31	premium	premium	NOUN
cjal-3260	149	32	to	to	ADP
cjal-3260	149	33	the	the	DET
cjal-3260	149	34	current	current	ADJ
cjal-3260	149	35	market	market	NOUN
cjal-3260	149	36	price	price	NOUN
cjal-3260	149	37	per	per	ADP
cjal-3260	149	38	share	share	NOUN
cjal-3260	149	39	will	will	AUX
cjal-3260	149	40	be	be	AUX
cjal-3260	149	41	distributed	distribute	VERB
cjal-3260	149	42	proportionally	proportionally	ADV
cjal-3260	149	43	among	among	ADP
cjal-3260	149	44	all	all	DET
cjal-3260	149	45	shareholders	shareholder	NOUN
cjal-3260	149	46	,	,	PUNCT
cjal-3260	149	47	and	and	CCONJ
cjal-3260	149	48	is	be	AUX
cjal-3260	149	49	unlikely	unlikely	ADJ
cjal-3260	149	50	to	to	PART
cjal-3260	149	51	adequately	adequately	ADV
cjal-3260	149	52	and	and	CCONJ
cjal-3260	149	53	independently	independently	ADV
cjal-3260	149	54	21	21	NUM
cjal-3260	149	55	lucian	lucian	PROPN
cjal-3260	149	56	a.	a.	NOUN
cjal-3260	149	57	bebchuk	bebchuk	PROPN
cjal-3260	149	58	&	&	CCONJ
cjal-3260	149	59	alma	alma	PROPN
cjal-3260	149	60	cohen	cohen	PROPN
cjal-3260	149	61	,	,	PUNCT
cjal-3260	149	62	the	the	DET
cjal-3260	149	63	costs	cost	NOUN
cjal-3260	149	64	of	of	ADP
cjal-3260	149	65	entrenched	entrenched	ADJ
cjal-3260	149	66	boards	board	NOUN
cjal-3260	149	67	,	,	PUNCT
cjal-3260	149	68	78	78	NUM
cjal-3260	149	69	j.	j.	PROPN
cjal-3260	149	70	fin	fin	PROPN
cjal-3260	149	71	.	.	PUNCT
cjal-3260	149	72	econ	econ	PROPN
cjal-3260	149	73	.	.	PUNCT
cjal-3260	150	1	409	409	NUM
cjal-3260	150	2	,	,	PUNCT
cjal-3260	150	3	409	409	NUM
cjal-3260	150	4	(	(	PUNCT
cjal-3260	150	5	2005	2005	NUM
cjal-3260	150	6	)	)	PUNCT
cjal-3260	150	7	,	,	PUNCT
cjal-3260	150	8	available	available	ADJ
cjal-3260	150	9	at	at	ADP
cjal-3260	150	10	http://www.law.harvard.edu/faculty/bebchuk/pdfs/bebchuk-cohencosts-ofentrenched-boards.pdf	http://www.law.harvard.edu/faculty/bebchuk/pdfs/bebchuk-cohencosts-ofentrenched-boards.pdf	PROPN
cjal-3260	150	11	.	.	PUNCT
cjal-3260	151	1	22	22	NUM
cjal-3260	151	2	see	see	VERB
cjal-3260	151	3	lucian	lucian	PROPN
cjal-3260	151	4	a.	a.	PROPN
cjal-3260	151	5	bebchuk	bebchuk	PROPN
cjal-3260	151	6	,	,	PUNCT
cjal-3260	151	7	reinier	reinier	PROPN
cjal-3260	151	8	h.	h.	PROPN
cjal-3260	151	9	kraakman	kraakman	PROPN
cjal-3260	151	10	&	&	CCONJ
cjal-3260	151	11	george	george	PROPN
cjal-3260	151	12	g.	g.	PROPN
cjal-3260	151	13	triantis	triantis	PROPN
cjal-3260	151	14	,	,	PUNCT
cjal-3260	151	15	stock	stock	NOUN
cjal-3260	151	16	pyramids	pyramid	NOUN
cjal-3260	151	17	,	,	PUNCT
cjal-3260	151	18	crossownership	crossownership	NOUN
cjal-3260	151	19	,	,	PUNCT
cjal-3260	151	20	and	and	CCONJ
cjal-3260	151	21	dual	dual	ADJ
cjal-3260	151	22	class	class	NOUN
cjal-3260	151	23	equity	equity	NOUN
cjal-3260	151	24	:	:	PUNCT
cjal-3260	151	25	the	the	DET
cjal-3260	151	26	creation	creation	NOUN
cjal-3260	151	27	and	and	CCONJ
cjal-3260	151	28	agency	agency	NOUN
cjal-3260	151	29	costs	cost	NOUN
cjal-3260	151	30	of	of	ADP
cjal-3260	151	31	separating	separate	VERB
cjal-3260	151	32	control	control	NOUN
cjal-3260	151	33	from	from	ADP
cjal-3260	151	34	cash	cash	NOUN
cjal-3260	151	35	flow	flow	NOUN
cjal-3260	151	36	rights	right	NOUN
cjal-3260	151	37	,	,	PUNCT
cjal-3260	151	38	in	in	ADP
cjal-3260	151	39	concentrated	concentrated	ADJ
cjal-3260	151	40	corporate	corporate	ADJ
cjal-3260	151	41	ownership	ownership	NOUN
cjal-3260	151	42	445	445	NUM
cjal-3260	151	43	(	(	PUNCT
cjal-3260	151	44	randall	randall	PROPN
cjal-3260	151	45	k.	k.	PROPN
cjal-3260	151	46	morck	morck	PROPN
cjal-3260	151	47	ed	ed	PROPN
cjal-3260	151	48	.	.	PROPN
cjal-3260	151	49	,	,	PUNCT
cjal-3260	151	50	2000	2000	NUM
cjal-3260	151	51	)	)	PUNCT
cjal-3260	151	52	.	.	PUNCT
cjal-3260	152	1	2007	2007	NUM
cjal-3260	152	2	]	]	PUNCT
cjal-3260	152	3	columbia	columbia	PROPN
cjal-3260	152	4	journal	journal	PROPN
cjal-3260	152	5	of	of	ADP
cjal-3260	152	6	asian	asian	ADJ
cjal-3260	152	7	law	law	NOUN
cjal-3260	152	8	compensate	compensate	VERB
cjal-3260	152	9	the	the	DET
cjal-3260	152	10	controller	controller	NOUN
cjal-3260	152	11	.	.	PUNCT
cjal-3260	153	1	for	for	ADP
cjal-3260	153	2	this	this	DET
cjal-3260	153	3	reason	reason	NOUN
cjal-3260	153	4	,	,	PUNCT
cjal-3260	153	5	the	the	DET
cjal-3260	153	6	cms	cms	NOUN
cjal-3260	153	7	structure	structure	NOUN
cjal-3260	153	8	is	be	AUX
cjal-3260	153	9	naturally	naturally	ADV
cjal-3260	153	10	resistant	resistant	ADJ
cjal-3260	153	11	to	to	ADP
cjal-3260	153	12	transfers	transfer	NOUN
cjal-3260	153	13	of	of	ADP
cjal-3260	153	14	control	control	NOUN
cjal-3260	153	15	.	.	PUNCT
cjal-3260	154	1	research	research	NOUN
cjal-3260	154	2	on	on	ADP
cjal-3260	154	3	the	the	DET
cjal-3260	154	4	effects	effect	NOUN
cjal-3260	154	5	of	of	ADP
cjal-3260	154	6	cms	cms	NOUN
cjal-3260	154	7	structures	structure	NOUN
cjal-3260	154	8	broadly	broadly	ADV
cjal-3260	154	9	suggests	suggest	VERB
cjal-3260	154	10	that	that	SCONJ
cjal-3260	154	11	"	"	PUNCT
cjal-3260	154	12	such	such	ADJ
cjal-3260	154	13	concentrated	concentrated	ADJ
cjal-3260	154	14	ownership	ownership	NOUN
cjal-3260	154	15	coincides	coincide	VERB
cjal-3260	154	16	with	with	ADP
cjal-3260	154	17	a	a	DET
cjal-3260	154	18	lack	lack	NOUN
cjal-3260	154	19	of	of	ADP
cjal-3260	154	20	investor	investor	NOUN
cjal-3260	154	21	protection	protection	NOUN
cjal-3260	154	22	,	,	PUNCT
cjal-3260	154	23	,	,	PUNCT
cjal-3260	154	24	23	23	NUM
cjal-3260	154	25	and	and	CCONJ
cjal-3260	154	26	that	that	SCONJ
cjal-3260	154	27	"	"	PUNCT
cjal-3260	154	28	a	a	DET
cjal-3260	154	29	great	great	ADJ
cjal-3260	154	30	number	number	NOUN
cjal-3260	154	31	of	of	ADP
cjal-3260	154	32	firms	firm	NOUN
cjal-3260	154	33	around	around	ADP
cjal-3260	154	34	the	the	DET
cjal-3260	154	35	world	world	NOUN
cjal-3260	154	36	have	have	VERB
cjal-3260	154	37	managers	manager	NOUN
cjal-3260	154	38	who	who	PRON
cjal-3260	154	39	possess	possess	VERB
cjal-3260	154	40	control	control	NOUN
cjal-3260	154	41	rights	right	NOUN
cjal-3260	154	42	that	that	PRON
cjal-3260	154	43	exceed	exceed	VERB
cjal-3260	154	44	their	their	PRON
cjal-3260	154	45	cash	cash	NOUN
cjal-3260	154	46	flow	flow	NOUN
cjal-3260	154	47	rights	right	NOUN
cjal-3260	154	48	in	in	ADP
cjal-3260	154	49	the	the	DET
cjal-3260	154	50	firm	firm	NOUN
cjal-3260	154	51	.	.	PUNCT
cjal-3260	154	52	"	"	PUNCT
cjal-3260	155	1	24	24	NUM
cjal-3260	155	2	thus	thus	ADV
cjal-3260	155	3	,	,	PUNCT
cjal-3260	155	4	the	the	DET
cjal-3260	155	5	controlling	control	VERB
cjal-3260	155	6	managers	manager	NOUN
cjal-3260	155	7	generally	generally	ADV
cjal-3260	155	8	are	be	AUX
cjal-3260	155	9	able	able	ADJ
cjal-3260	155	10	to	to	PART
cjal-3260	155	11	exercise	exercise	VERB
cjal-3260	155	12	effective	effective	ADJ
cjal-3260	155	13	control	control	NOUN
cjal-3260	155	14	"	"	PUNCT
cjal-3260	155	15	while	while	SCONJ
cjal-3260	155	16	they	they	PRON
cjal-3260	155	17	bear	bear	VERB
cjal-3260	155	18	relatively	relatively	ADV
cjal-3260	155	19	less	less	ADJ
cjal-3260	155	20	of	of	ADP
cjal-3260	155	21	the	the	DET
cjal-3260	155	22	cash	cash	NOUN
cjal-3260	155	23	flow	flow	NOUN
cjal-3260	155	24	consequences	consequence	NOUN
cjal-3260	155	25	of	of	ADP
cjal-3260	155	26	exercising	exercise	VERB
cjal-3260	155	27	their	their	PRON
cjal-3260	155	28	control	control	NOUN
cjal-3260	155	29	.	.	PUNCT
cjal-3260	155	30	"	"	PUNCT
cjal-3260	156	1	25	25	NUM
cjal-3260	156	2	the	the	DET
cjal-3260	156	3	extent	extent	NOUN
cjal-3260	156	4	to	to	PART
cjal-3260	156	5	which	which	PRON
cjal-3260	156	6	managerial	managerial	ADJ
cjal-3260	156	7	agency	agency	NOUN
cjal-3260	156	8	problems	problem	NOUN
cjal-3260	156	9	affect	affect	VERB
cjal-3260	156	10	firm	firm	ADJ
cjal-3260	156	11	value	value	NOUN
cjal-3260	156	12	depends	depend	VERB
cjal-3260	156	13	,	,	PUNCT
cjal-3260	156	14	inter	inter	ADJ
cjal-3260	156	15	alia	alia	NOUN
cjal-3260	156	16	,	,	PUNCT
cjal-3260	156	17	on	on	ADP
cjal-3260	156	18	the	the	DET
cjal-3260	156	19	extent	extent	NOUN
cjal-3260	156	20	to	to	PART
cjal-3260	156	21	which	which	PRON
cjal-3260	156	22	the	the	DET
cjal-3260	156	23	management	management	NOUN
cjal-3260	156	24	group	group	NOUN
cjal-3260	156	25	is	be	AUX
cjal-3260	156	26	insulated	insulate	VERB
cjal-3260	156	27	from	from	ADP
cjal-3260	156	28	outside	outside	ADJ
cjal-3260	156	29	shareholder	shareholder	NOUN
cjal-3260	156	30	demands	demand	NOUN
cjal-3260	156	31	,	,	PUNCT
cjal-3260	156	32	in	in	ADP
cjal-3260	156	33	which	which	DET
cjal-3260	156	34	case	case	NOUN
cjal-3260	156	35	managers	manager	NOUN
cjal-3260	156	36	might	might	AUX
cjal-3260	156	37	choose	choose	VERB
cjal-3260	156	38	to	to	PART
cjal-3260	156	39	extract	extract	VERB
cjal-3260	156	40	corporate	corporate	ADJ
cjal-3260	156	41	resources	resource	NOUN
cjal-3260	156	42	;	;	PUNCT
cjal-3260	156	43	this	this	DET
cjal-3260	156	44	consumption	consumption	NOUN
cjal-3260	156	45	of	of	ADP
cjal-3260	156	46	private	private	ADJ
cjal-3260	156	47	benefits	benefit	NOUN
cjal-3260	156	48	by	by	ADP
cjal-3260	156	49	board	board	NOUN
cjal-3260	156	50	members	member	NOUN
cjal-3260	156	51	leads	lead	VERB
cjal-3260	156	52	to	to	ADP
cjal-3260	156	53	a	a	DET
cjal-3260	156	54	reduced	reduce	VERB
cjal-3260	156	55	firm	firm	ADJ
cjal-3260	156	56	value	value	NOUN
cjal-3260	156	57	.	.	PUNCT
cjal-3260	157	1	26	26	NUM
cjal-3260	157	2	when	when	SCONJ
cjal-3260	157	3	lins	lin	NOUN
cjal-3260	157	4	assessed	assess	VERB
cjal-3260	157	5	the	the	DET
cjal-3260	157	6	performance	performance	NOUN
cjal-3260	157	7	of	of	ADP
cjal-3260	157	8	companies	company	NOUN
cjal-3260	157	9	in	in	ADP
cjal-3260	157	10	emerging	emerge	VERB
cjal-3260	157	11	market	market	NOUN
cjal-3260	157	12	economies	economy	NOUN
cjal-3260	157	13	where	where	SCONJ
cjal-3260	157	14	managers	manager	NOUN
cjal-3260	157	15	'	'	PART
cjal-3260	157	16	control	control	NOUN
cjal-3260	157	17	rights	right	NOUN
cjal-3260	157	18	exceed	exceed	VERB
cjal-3260	157	19	their	their	PRON
cjal-3260	157	20	proportional	proportional	ADJ
cjal-3260	157	21	ownership	ownership	NOUN
cjal-3260	157	22	,	,	PUNCT
cjal-3260	157	23	he	he	PRON
cjal-3260	157	24	found	find	VERB
cjal-3260	157	25	that	that	SCONJ
cjal-3260	157	26	company	company	NOUN
cjal-3260	157	27	valuations	valuation	NOUN
cjal-3260	157	28	are	be	AUX
cjal-3260	157	29	"	"	PUNCT
cjal-3260	157	30	significantly	significantly	ADV
cjal-3260	157	31	lower	low	ADJ
cjal-3260	157	32	in	in	ADP
cjal-3260	157	33	countries	country	NOUN
cjal-3260	157	34	with	with	ADP
cjal-3260	157	35	low	low	ADJ
cjal-3260	157	36	shareholder	shareholder	NOUN
cjal-3260	157	37	protection	protection	NOUN
cjal-3260	157	38	.	.	PUNCT
cjal-3260	158	1	,	,	PUNCT
cjal-3260	158	2	27	27	NUM
cjal-3260	158	3	with	with	ADP
cjal-3260	158	4	respect	respect	NOUN
cjal-3260	158	5	to	to	ADP
cjal-3260	158	6	east	east	ADJ
cjal-3260	158	7	asian	asian	ADJ
cjal-3260	158	8	companies	company	NOUN
cjal-3260	158	9	,	,	PUNCT
cjal-3260	158	10	a	a	DET
cjal-3260	158	11	value	value	NOUN
cjal-3260	158	12	discount	discount	NOUN
cjal-3260	158	13	of	of	ADP
cjal-3260	158	14	approximately	approximately	ADV
cjal-3260	158	15	seven	seven	NUM
cjal-3260	158	16	percent	percent	NOUN
cjal-3260	158	17	in	in	ADP
cjal-3260	158	18	diversified	diversified	ADJ
cjal-3260	158	19	firms	firm	NOUN
cjal-3260	158	20	with	with	ADP
cjal-3260	158	21	group	group	NOUN
cjal-3260	158	22	affiliations	affiliation	NOUN
cjal-3260	158	23	was	be	AUX
cjal-3260	158	24	attributable	attributable	ADJ
cjal-3260	158	25	to	to	ADP
cjal-3260	158	26	resource	resource	NOUN
cjal-3260	158	27	misallocation	misallocation	NOUN
cjal-3260	158	28	and	and	CCONJ
cjal-3260	158	29	the	the	DET
cjal-3260	158	30	greater	great	ADJ
cjal-3260	158	31	ease	ease	NOUN
cjal-3260	158	32	of	of	ADP
cjal-3260	158	33	expropriation	expropriation	NOUN
cjal-3260	158	34	by	by	ADP
cjal-3260	158	35	controlling	control	VERB
cjal-3260	158	36	shareholders	shareholder	NOUN
cjal-3260	158	37	from	from	ADP
cjal-3260	158	38	minority	minority	NOUN
cjal-3260	158	39	shareholders	shareholder	NOUN
cjal-3260	158	40	.	.	PUNCT
cjal-3260	159	1	2	2	NUM
cjal-3260	159	2	to	to	ADP
cjal-3260	159	3	a	a	DET
cjal-3260	159	4	shareholder	shareholder	NOUN
cjal-3260	159	5	,	,	PUNCT
cjal-3260	159	6	the	the	DET
cjal-3260	159	7	cost	cost	NOUN
cjal-3260	159	8	of	of	ADP
cjal-3260	159	9	insider	insider	NOUN
cjal-3260	159	10	expropriation	expropriation	NOUN
cjal-3260	159	11	increases	increase	VERB
cjal-3260	159	12	with	with	ADP
cjal-3260	159	13	the	the	DET
cjal-3260	159	14	percentage	percentage	NOUN
cjal-3260	159	15	of	of	ADP
cjal-3260	159	16	the	the	DET
cjal-3260	159	17	company	company	NOUN
cjal-3260	159	18	owned	own	VERB
cjal-3260	159	19	.	.	PUNCT
cjal-3260	160	1	thus	thus	ADV
cjal-3260	160	2	,	,	PUNCT
cjal-3260	160	3	controlling	control	VERB
cjal-3260	160	4	shareholders	shareholder	NOUN
cjal-3260	160	5	who	who	PRON
cjal-3260	160	6	nevertheless	nevertheless	ADV
cjal-3260	160	7	have	have	VERB
cjal-3260	160	8	a	a	DET
cjal-3260	160	9	small	small	ADJ
cjal-3260	160	10	financial	financial	ADJ
cjal-3260	160	11	interest	interest	NOUN
cjal-3260	160	12	in	in	ADP
cjal-3260	160	13	the	the	DET
cjal-3260	160	14	company	company	NOUN
cjal-3260	160	15	have	have	VERB
cjal-3260	160	16	a	a	DET
cjal-3260	160	17	strong	strong	ADJ
cjal-3260	160	18	incentive	incentive	NOUN
cjal-3260	160	19	to	to	PART
cjal-3260	160	20	expropriate	expropriate	VERB
cjal-3260	160	21	corporate	corporate	ADJ
cjal-3260	160	22	assets	asset	NOUN
cjal-3260	160	23	when	when	SCONJ
cjal-3260	160	24	such	such	ADJ
cjal-3260	160	25	opportunities	opportunity	NOUN
cjal-3260	160	26	present	present	VERB
cjal-3260	160	27	themselves	themselves	PRON
cjal-3260	160	28	.	.	PUNCT
cjal-3260	161	1	29	29	NUM
cjal-3260	161	2	korea	korea	PROPN
cjal-3260	161	3	's	's	PART
cjal-3260	161	4	fair	fair	ADJ
cjal-3260	161	5	trade	trade	NOUN
cjal-3260	161	6	commission	commission	NOUN
cjal-3260	161	7	has	have	AUX
cjal-3260	161	8	taken	take	VERB
cjal-3260	161	9	a	a	DET
cjal-3260	161	10	special	special	ADJ
cjal-3260	161	11	interest	interest	NOUN
cjal-3260	161	12	in	in	ADP
cjal-3260	161	13	the	the	DET
cjal-3260	161	14	size	size	NOUN
cjal-3260	161	15	of	of	ADP
cjal-3260	161	16	the	the	DET
cjal-3260	161	17	wedge	wedge	NOUN
cjal-3260	161	18	in	in	ADP
cjal-3260	161	19	the	the	DET
cjal-3260	161	20	chaebol	chaebol	NOUN
cjal-3260	161	21	,	,	PUNCT
cjal-3260	161	22	finding	find	VERB
cjal-3260	161	23	"	"	PUNCT
cjal-3260	161	24	wide	wide	ADJ
cjal-3260	161	25	and	and	CCONJ
cjal-3260	161	26	growing	grow	VERB
cjal-3260	161	27	disparities	disparity	NOUN
cjal-3260	161	28	between	between	ADP
cjal-3260	161	29	ownership	ownership	NOUN
cjal-3260	161	30	and	and	CCONJ
cjal-3260	161	31	control	control	NOUN
cjal-3260	161	32	of	of	ADP
cjal-3260	161	33	the	the	DET
cjal-3260	161	34	ten	ten	NUM
cjal-3260	161	35	largest	large	ADJ
cjal-3260	161	36	[	[	PUNCT
cjal-3260	161	37	corporate	corporate	ADJ
cjal-3260	161	38	groups	group	NOUN
cjal-3260	161	39	since	since	SCONJ
cjal-3260	161	40	the	the	DET
cjal-3260	161	41	asian	asian	ADJ
cjal-3260	161	42	financial	financial	ADJ
cjal-3260	161	43	crisis	crisis	NOUN
cjal-3260	161	44	.	.	PUNCT
cjal-3260	162	1	since	since	SCONJ
cjal-3260	162	2	then	then	ADV
cjal-3260	162	3	]	]	PUNCT
cjal-3260	162	4	the	the	DET
cjal-3260	162	5	23	23	NUM
cjal-3260	162	6	karl	karl	PROPN
cjal-3260	162	7	v.	v.	PROPN
cjal-3260	162	8	lins	lins	PROPN
cjal-3260	162	9	,	,	PUNCT
cjal-3260	162	10	equity	equity	NOUN
cjal-3260	162	11	ownership	ownership	NOUN
cjal-3260	162	12	and	and	CCONJ
cjal-3260	162	13	firm	firm	ADJ
cjal-3260	162	14	value	value	NOUN
cjal-3260	162	15	in	in	ADP
cjal-3260	162	16	emerging	emerge	VERB
cjal-3260	162	17	markets	market	NOUN
cjal-3260	162	18	,	,	PUNCT
cjal-3260	162	19	38	38	NUM
cjal-3260	162	20	j.	j.	PROPN
cjal-3260	162	21	fin	fin	PROPN
cjal-3260	162	22	.	.	PUNCT
cjal-3260	162	23	&	&	CCONJ
cjal-3260	162	24	quantitative	quantitative	ADJ
cjal-3260	162	25	analysis	analysis	NOUN
cjal-3260	162	26	159	159	NUM
cjal-3260	162	27	,	,	PUNCT
cjal-3260	162	28	160	160	NUM
cjal-3260	162	29	(	(	PUNCT
cjal-3260	162	30	2002	2002	NUM
cjal-3260	162	31	)	)	PUNCT
cjal-3260	162	32	,	,	PUNCT
cjal-3260	162	33	available	available	ADJ
cjal-3260	162	34	at	at	ADP
cjal-3260	162	35	http://papers.ssrn.com/sol3/papers.cfm?abstract-id=214909	http://papers.ssrn.com/sol3/papers.cfm?abstract-id=214909	PROPN
cjal-3260	162	36	.	.	PUNCT
cjal-3260	163	1	24	24	NUM
cjal-3260	164	1	i	i	PRON
cjal-3260	164	2	d.	d.	PROPN
cjal-3260	164	3	25	25	NUM
cjal-3260	165	1	i	i	PRON
cjal-3260	165	2	d.	d.	PROPN
cjal-3260	165	3	26	26	NUM
cjal-3260	166	1	i	i	PRON
cjal-3260	166	2	d.	d.	PROPN
cjal-3260	166	3	27	27	NUM
cjal-3260	167	1	i	i	PRON
cjal-3260	167	2	d.	d.	PROPN
cjal-3260	167	3	at	at	ADP
cjal-3260	167	4	184	184	NUM
cjal-3260	167	5	.	.	PUNCT
cjal-3260	167	6	28	28	NUM
cjal-3260	168	1	cai	cai	PROPN
cjal-3260	168	2	xiang	xiang	PROPN
cjal-3260	168	3	,	,	PUNCT
cjal-3260	168	4	ownership	ownership	NOUN
cjal-3260	168	5	,	,	PUNCT
cjal-3260	168	6	control	control	NOUN
cjal-3260	168	7	and	and	CCONJ
cjal-3260	168	8	acquirers	acquirer	NOUN
cjal-3260	168	9	'	'	PART
cjal-3260	168	10	returns	return	NOUN
cjal-3260	168	11	:	:	PUNCT
cjal-3260	168	12	preliminary	preliminary	ADJ
cjal-3260	168	13	evidence	evidence	NOUN
cjal-3260	168	14	from	from	ADP
cjal-3260	168	15	east	east	ADJ
cjal-3260	168	16	asian	asian	ADJ
cjal-3260	168	17	companies	company	NOUN
cjal-3260	168	18	(	(	PUNCT
cjal-3260	168	19	nov	nov	PROPN
cjal-3260	168	20	.	.	PROPN
cjal-3260	168	21	25	25	NUM
cjal-3260	168	22	,	,	PUNCT
cjal-3260	168	23	2004	2004	NUM
cjal-3260	168	24	)	)	PUNCT
cjal-3260	168	25	(	(	PUNCT
cjal-3260	168	26	cornell	cornell	PROPN
cjal-3260	168	27	l.	l.	PROPN
cjal-3260	168	28	stud	stud	PROPN
cjal-3260	168	29	.	.	PUNCT
cjal-3260	169	1	res	re	NOUN
cjal-3260	169	2	.	.	PUNCT
cjal-3260	170	1	paper	paper	NOUN
cjal-3260	170	2	no	no	INTJ
cjal-3260	170	3	.	.	NOUN
cjal-3260	170	4	04	04	NUM
cjal-3260	170	5	-	-	PUNCT
cjal-3260	170	6	038	038	NUM
cjal-3260	170	7	)	)	PUNCT
cjal-3260	170	8	,	,	PUNCT
cjal-3260	170	9	available	available	ADJ
cjal-3260	170	10	at	at	ADP
cjal-3260	170	11	http://papers.ssrn.com/sol3/papers.cfm?abstract-id=625684	http://papers.ssrn.com/sol3/papers.cfm?abstract-id=625684	PROPN
cjal-3260	170	12	.	.	PUNCT
cjal-3260	171	1	29	29	NUM
cjal-3260	171	2	chandrasekhar	chandrasekhar	PROPN
cjal-3260	171	3	krishnamurti	krishnamurti	PROPN
cjal-3260	171	4	,	,	PUNCT
cjal-3260	171	5	aleksandar	aleksandar	PROPN
cjal-3260	171	6	sevic	sevic	PROPN
cjal-3260	171	7	&	&	CCONJ
cjal-3260	171	8	zeljko	zeljko	PROPN
cjal-3260	171	9	sevic	sevic	PROPN
cjal-3260	171	10	,	,	PUNCT
cjal-3260	171	11	legal	legal	ADJ
cjal-3260	171	12	environment	environment	NOUN
cjal-3260	171	13	,	,	PUNCT
cjal-3260	171	14	firm	firm	ADJ
cjal-3260	171	15	-	-	PUNCT
cjal-3260	171	16	level	level	NOUN
cjal-3260	171	17	corporate	corporate	ADJ
cjal-3260	171	18	governance	governance	NOUN
cjal-3260	171	19	and	and	CCONJ
cjal-3260	171	20	expropriation	expropriation	NOUN
cjal-3260	171	21	of	of	ADP
cjal-3260	171	22	minority	minority	NOUN
cjal-3260	171	23	shareholders	shareholder	NOUN
cjal-3260	171	24	in	in	ADP
cjal-3260	171	25	asia	asia	PROPN
cjal-3260	171	26	(	(	PUNCT
cjal-3260	171	27	june	june	PROPN
cjal-3260	171	28	23	23	NUM
cjal-3260	171	29	,	,	PUNCT
cjal-3260	171	30	2003	2003	NUM
cjal-3260	171	31	)	)	PUNCT
cjal-3260	171	32	,	,	PUNCT
cjal-3260	171	33	available	available	ADJ
cjal-3260	171	34	at	at	ADP
cjal-3260	171	35	http://papers.ssrn.com/sol3/papers.cfm?abstract_id=407847	http://papers.ssrn.com/sol3/papers.cfm?abstract_id=407847	PROPN
cjal-3260	171	36	.	.	PUNCT
cjal-3260	172	1	[	[	X
cjal-3260	172	2	20:2	20:2	NUM
cjal-3260	172	3	national	national	ADJ
cjal-3260	172	4	markets	market	NOUN
cjal-3260	172	5	,	,	PUNCT
cjal-3260	172	6	new	new	ADJ
cjal-3260	172	7	defenses	defense	NOUN
cjal-3260	172	8	percentage	percentage	NOUN
cjal-3260	172	9	of	of	ADP
cjal-3260	172	10	shares	share	NOUN
cjal-3260	172	11	directly	directly	ADV
cjal-3260	172	12	owned	own	VERB
cjal-3260	172	13	by	by	ADP
cjal-3260	172	14	controlling	control	VERB
cjal-3260	172	15	families	family	NOUN
cjal-3260	172	16	has	have	AUX
cjal-3260	172	17	fallen	fall	VERB
cjal-3260	172	18	to	to	ADP
cjal-3260	172	19	less	less	ADJ
cjal-3260	172	20	than	than	ADP
cjal-3260	172	21	four	four	NUM
cjal-3260	172	22	percent	percent	NOUN
cjal-3260	172	23	,	,	PUNCT
cjal-3260	172	24	but	but	CCONJ
cjal-3260	172	25	they	they	PRON
cjal-3260	172	26	have	have	AUX
cjal-3260	172	27	maintained	maintain	VERB
cjal-3260	172	28	control	control	NOUN
cjal-3260	172	29	through	through	ADP
cjal-3260	172	30	systems	system	NOUN
cjal-3260	172	31	of	of	ADP
cjal-3260	172	32	cross	cross	NOUN
cjal-3260	172	33	-	-	NOUN
cjal-3260	172	34	shareholdings	shareholding	NOUN
cjal-3260	172	35	.	.	PUNCT
cjal-3260	172	36	"	"	PUNCT
cjal-3260	173	1	30	30	NUM
cjal-3260	173	2	as	as	ADP
cjal-3260	173	3	for	for	ADP
cjal-3260	173	4	the	the	DET
cjal-3260	173	5	market	market	NOUN
cjal-3260	173	6	impact	impact	NOUN
cjal-3260	173	7	of	of	ADP
cjal-3260	173	8	the	the	DET
cjal-3260	173	9	wedge	wedge	NOUN
cjal-3260	173	10	,	,	PUNCT
cjal-3260	173	11	"	"	PUNCT
cjal-3260	173	12	the	the	PRON
cjal-3260	173	13	higher	high	ADJ
cjal-3260	173	14	the	the	DET
cjal-3260	173	15	disparity	disparity	NOUN
cjal-3260	173	16	between	between	ADP
cjal-3260	173	17	ownership	ownership	NOUN
cjal-3260	173	18	and	and	CCONJ
cjal-3260	173	19	control	control	NOUN
cjal-3260	173	20	,	,	PUNCT
cjal-3260	173	21	the	the	PRON
cjal-3260	173	22	higher	high	ADJ
cjal-3260	173	23	the	the	DET
cjal-3260	173	24	discount	discount	NOUN
cjal-3260	173	25	on	on	ADP
cjal-3260	173	26	the	the	DET
cjal-3260	173	27	shares	share	NOUN
cjal-3260	173	28	.	.	PUNCT
cjal-3260	173	29	'	'	PUNCT
cjal-3260	174	1	the	the	DET
cjal-3260	174	2	claessens	claessen	NOUN
cjal-3260	174	3	team	team	NOUN
cjal-3260	174	4	found	find	VERB
cjal-3260	174	5	a	a	DET
cjal-3260	174	6	high	high	ADJ
cjal-3260	174	7	degree	degree	NOUN
cjal-3260	174	8	of	of	ADP
cjal-3260	174	9	expropriation	expropriation	NOUN
cjal-3260	174	10	in	in	ADP
cjal-3260	174	11	indonesia	indonesia	PROPN
cjal-3260	174	12	,	,	PUNCT
cjal-3260	174	13	the	the	DET
cjal-3260	174	14	philippines	philippine	NOUN
cjal-3260	174	15	and	and	CCONJ
cjal-3260	174	16	thailand	thailand	PROPN
cjal-3260	174	17	,	,	PUNCT
cjal-3260	174	18	but	but	CCONJ
cjal-3260	174	19	did	do	AUX
cjal-3260	174	20	not	not	PART
cjal-3260	174	21	find	find	VERB
cjal-3260	174	22	empirical	empirical	ADJ
cjal-3260	174	23	support	support	NOUN
cjal-3260	174	24	for	for	ADP
cjal-3260	174	25	expropriation	expropriation	NOUN
cjal-3260	174	26	in	in	ADP
cjal-3260	174	27	malaysia	malaysia	PROPN
cjal-3260	174	28	,	,	PUNCT
cjal-3260	174	29	singapore	singapore	PROPN
cjal-3260	174	30	or	or	CCONJ
cjal-3260	174	31	taiwan	taiwan	PROPN
cjal-3260	174	32	.	.	PUNCT
cjal-3260	175	1	32	32	NUM
cjal-3260	176	1	the	the	DET
cjal-3260	176	2	krishnamurti	krishnamurti	PROPN
cjal-3260	176	3	team	team	NOUN
cjal-3260	176	4	inquired	inquire	VERB
cjal-3260	176	5	whether	whether	SCONJ
cjal-3260	176	6	firms	firm	NOUN
cjal-3260	176	7	'	'	PART
cjal-3260	176	8	controlling	control	VERB
cjal-3260	176	9	minority	minority	NOUN
cjal-3260	176	10	shareholders	shareholder	NOUN
cjal-3260	176	11	in	in	ADP
cjal-3260	176	12	these	these	DET
cjal-3260	176	13	markets	market	NOUN
cjal-3260	176	14	"	"	PUNCT
cjal-3260	176	15	compensate	compensate	VERB
cjal-3260	176	16	by	by	ADP
cjal-3260	176	17	adopting	adopt	VERB
cjal-3260	176	18	voluntarily	voluntarily	ADV
cjal-3260	176	19	high	high	ADJ
cjal-3260	176	20	standards	standard	NOUN
cjal-3260	176	21	of	of	ADP
cjal-3260	176	22	corporate	corporate	ADJ
cjal-3260	176	23	governance	governance	NOUN
cjal-3260	176	24	.	.	PUNCT
cjal-3260	177	1	,	,	PUNCT
cjal-3260	177	2	33	33	NUM
cjal-3260	177	3	they	they	PRON
cjal-3260	177	4	did	do	AUX
cjal-3260	177	5	not	not	PART
cjal-3260	177	6	find	find	VERB
cjal-3260	177	7	such	such	ADJ
cjal-3260	177	8	voluntary	voluntary	ADJ
cjal-3260	177	9	adoption	adoption	NOUN
cjal-3260	177	10	in	in	ADP
cjal-3260	177	11	low	low	ADJ
cjal-3260	177	12	corporate	corporate	ADJ
cjal-3260	177	13	governance	governance	NOUN
cjal-3260	177	14	scoring	scoring	NOUN
cjal-3260	177	15	nations	nation	NOUN
cjal-3260	177	16	,	,	PUNCT
cjal-3260	177	17	but	but	CCONJ
cjal-3260	177	18	did	do	AUX
cjal-3260	177	19	find	find	VERB
cjal-3260	177	20	that	that	SCONJ
cjal-3260	177	21	in	in	ADP
cjal-3260	177	22	hong	hong	PROPN
cjal-3260	177	23	kong	kong	PROPN
cjal-3260	177	24	and	and	CCONJ
cjal-3260	177	25	singapore	singapore	PROPN
cjal-3260	177	26	,	,	PUNCT
cjal-3260	177	27	such	such	ADJ
cjal-3260	177	28	firms	firm	NOUN
cjal-3260	177	29	"	"	PUNCT
cjal-3260	177	30	signal	signal	VERB
cjal-3260	177	31	their	their	PRON
cjal-3260	177	32	intention	intention	NOUN
cjal-3260	177	33	to	to	PART
cjal-3260	177	34	not	not	PART
cjal-3260	177	35	expropriate	expropriate	VERB
cjal-3260	177	36	minority	minority	NOUN
cjal-3260	177	37	shareholders	shareholder	NOUN
cjal-3260	177	38	'	'	PART
cjal-3260	177	39	wealth	wealth	NOUN
cjal-3260	177	40	by	by	ADP
cjal-3260	177	41	voluntarily	voluntarily	ADV
cjal-3260	177	42	adopting	adopt	VERB
cjal-3260	177	43	measures	measure	NOUN
cjal-3260	177	44	to	to	PART
cjal-3260	177	45	strengthen	strengthen	VERB
cjal-3260	177	46	their	their	PRON
cjal-3260	177	47	discipline	discipline	NOUN
cjal-3260	177	48	and	and	CCONJ
cjal-3260	177	49	responsibility	responsibility	NOUN
cjal-3260	177	50	scores	score	NOUN
cjal-3260	177	51	.	.	PUNCT
cjal-3260	178	1	34	34	NUM
cjal-3260	178	2	this	this	DET
cjal-3260	178	3	willingness	willingness	NOUN
cjal-3260	178	4	of	of	ADP
cjal-3260	178	5	high	high	ADJ
cjal-3260	178	6	-	-	PUNCT
cjal-3260	178	7	control	control	NOUN
cjal-3260	178	8	or	or	CCONJ
cjal-3260	178	9	cms	cms	NOUN
cjal-3260	178	10	firms	firm	NOUN
cjal-3260	178	11	voluntarily	voluntarily	ADV
cjal-3260	178	12	to	to	PART
cjal-3260	178	13	adopt	adopt	VERB
cjal-3260	178	14	measures	measure	NOUN
cjal-3260	178	15	indicating	indicate	VERB
cjal-3260	178	16	their	their	PRON
cjal-3260	178	17	willingness	willingness	NOUN
cjal-3260	178	18	to	to	ADP
cjal-3260	178	19	"	"	PUNCT
cjal-3260	178	20	bond	bond	NOUN
cjal-3260	178	21	"	"	PUNCT
cjal-3260	178	22	or	or	CCONJ
cjal-3260	178	23	enhance	enhance	VERB
cjal-3260	178	24	their	their	PRON
cjal-3260	178	25	firm	firm	ADJ
cjal-3260	178	26	value	value	NOUN
cjal-3260	178	27	by	by	ADP
cjal-3260	178	28	foregoing	forego	VERB
cjal-3260	178	29	private	private	ADJ
cjal-3260	178	30	benefits	benefit	NOUN
cjal-3260	178	31	is	be	AUX
cjal-3260	178	32	encouraging	encouraging	ADJ
cjal-3260	178	33	:	:	PUNCT
cjal-3260	178	34	it	it	PRON
cjal-3260	178	35	gives	give	VERB
cjal-3260	178	36	one	one	NUM
cjal-3260	178	37	hope	hope	NOUN
cjal-3260	178	38	that	that	SCONJ
cjal-3260	178	39	,	,	PUNCT
cjal-3260	178	40	if	if	SCONJ
cjal-3260	178	41	an	an	DET
cjal-3260	178	42	optin	optin	NOUN
cjal-3260	178	43	regime	regime	NOUN
cjal-3260	178	44	for	for	ADP
cjal-3260	178	45	a	a	DET
cjal-3260	178	46	shareholder	shareholder	NOUN
cjal-3260	178	47	-	-	PUNCT
cjal-3260	178	48	friendly	friendly	ADJ
cjal-3260	178	49	takeover	takeover	NOUN
cjal-3260	178	50	policy	policy	NOUN
cjal-3260	178	51	is	be	AUX
cjal-3260	178	52	made	make	VERB
cjal-3260	178	53	available	available	ADJ
cjal-3260	178	54	,	,	PUNCT
cjal-3260	178	55	a	a	DET
cjal-3260	178	56	critical	critical	ADJ
cjal-3260	178	57	mass	mass	NOUN
cjal-3260	178	58	of	of	ADP
cjal-3260	178	59	companies	company	NOUN
cjal-3260	178	60	will	will	AUX
cjal-3260	178	61	promptly	promptly	ADV
cjal-3260	178	62	sign	sign	VERB
cjal-3260	178	63	up	up	ADP
cjal-3260	178	64	to	to	ADP
cjal-3260	178	65	the	the	DET
cjal-3260	178	66	regime	regime	NOUN
cjal-3260	178	67	.	.	PUNCT
cjal-3260	179	1	the	the	DET
cjal-3260	179	2	empirical	empirical	ADJ
cjal-3260	179	3	findings	finding	NOUN
cjal-3260	179	4	of	of	ADP
cjal-3260	179	5	the	the	DET
cjal-3260	179	6	valuation	valuation	NOUN
cjal-3260	179	7	consequences	consequence	NOUN
cjal-3260	179	8	and	and	CCONJ
cjal-3260	179	9	social	social	ADJ
cjal-3260	179	10	costs	cost	NOUN
cjal-3260	179	11	of	of	ADP
cjal-3260	179	12	cms	cms	NOUN
cjal-3260	179	13	structures	structure	NOUN
cjal-3260	179	14	point	point	VERB
cjal-3260	179	15	to	to	ADP
cjal-3260	179	16	important	important	ADJ
cjal-3260	179	17	consequences	consequence	NOUN
cjal-3260	179	18	for	for	ADP
cjal-3260	179	19	takeover	takeover	NOUN
cjal-3260	179	20	policy	policy	NOUN
cjal-3260	179	21	in	in	ADP
cjal-3260	179	22	those	those	DET
cjal-3260	179	23	markets	market	NOUN
cjal-3260	179	24	where	where	SCONJ
cjal-3260	179	25	cms	cms	NOUN
cjal-3260	179	26	structures	structure	NOUN
cjal-3260	179	27	are	be	AUX
cjal-3260	179	28	common	common	ADJ
cjal-3260	179	29	:	:	PUNCT
cjal-3260	179	30	the	the	DET
cjal-3260	179	31	extent	extent	NOUN
cjal-3260	179	32	to	to	PART
cjal-3260	179	33	which	which	PRON
cjal-3260	179	34	shareholders	shareholder	NOUN
cjal-3260	179	35	are	be	AUX
cjal-3260	179	36	made	make	VERB
cjal-3260	179	37	worse	bad	ADJ
cjal-3260	179	38	off	off	ADP
cjal-3260	179	39	by	by	ADP
cjal-3260	179	40	offering	offer	VERB
cjal-3260	179	41	enhanced	enhance	VERB
cjal-3260	179	42	legal	legal	ADJ
cjal-3260	179	43	options	option	NOUN
cjal-3260	179	44	for	for	ADP
cjal-3260	179	45	anti	anti	ADJ
cjal-3260	179	46	-	-	ADJ
cjal-3260	179	47	takeover	takeover	ADJ
cjal-3260	179	48	defenses	defense	NOUN
cjal-3260	179	49	can	can	AUX
cjal-3260	179	50	be	be	AUX
cjal-3260	179	51	expected	expect	VERB
cjal-3260	179	52	to	to	PART
cjal-3260	179	53	cause	cause	VERB
cjal-3260	179	54	a	a	DET
cjal-3260	179	55	further	further	ADJ
cjal-3260	179	56	decrease	decrease	NOUN
cjal-3260	179	57	in	in	ADP
cjal-3260	179	58	firm	firm	ADJ
cjal-3260	179	59	value	value	NOUN
cjal-3260	179	60	.	.	PUNCT
cjal-3260	180	1	without	without	ADP
cjal-3260	180	2	resolving	resolve	VERB
cjal-3260	180	3	the	the	DET
cjal-3260	180	4	ability	ability	NOUN
cjal-3260	180	5	of	of	ADP
cjal-3260	180	6	insiders	insider	NOUN
cjal-3260	180	7	to	to	PART
cjal-3260	180	8	extract	extract	VERB
cjal-3260	180	9	harmful	harmful	ADJ
cjal-3260	180	10	private	private	ADJ
cjal-3260	180	11	benefits	benefit	NOUN
cjal-3260	180	12	,	,	PUNCT
cjal-3260	180	13	the	the	DET
cjal-3260	180	14	new	new	ADJ
cjal-3260	180	15	availability	availability	NOUN
cjal-3260	180	16	of	of	ADP
cjal-3260	180	17	defensive	defensive	ADJ
cjal-3260	180	18	measures	measure	NOUN
cjal-3260	180	19	would	would	AUX
cjal-3260	180	20	have	have	VERB
cjal-3260	180	21	a	a	DET
cjal-3260	180	22	compounded	compound	VERB
cjal-3260	180	23	value	value	NOUN
cjal-3260	180	24	-	-	PUNCT
cjal-3260	180	25	reducing	reduce	VERB
cjal-3260	180	26	effect	effect	NOUN
cjal-3260	180	27	on	on	ADP
cjal-3260	180	28	the	the	DET
cjal-3260	180	29	market	market	NOUN
cjal-3260	180	30	value	value	NOUN
cjal-3260	180	31	of	of	ADP
cjal-3260	180	32	protected	protect	VERB
cjal-3260	180	33	companies	company	NOUN
cjal-3260	180	34	.	.	PUNCT
cjal-3260	181	1	30	30	NUM
cjal-3260	181	2	fischer	fischer	NOUN
cjal-3260	181	3	,	,	PUNCT
cjal-3260	181	4	supra	supra	PROPN
cjal-3260	181	5	note	note	NOUN
cjal-3260	181	6	9	9	NUM
cjal-3260	181	7	,	,	PUNCT
cjal-3260	181	8	at	at	ADP
cjal-3260	181	9	42	42	NUM
cjal-3260	181	10	.	.	PUNCT
cjal-3260	181	11	31	31	NUM
cjal-3260	182	1	i	i	PRON
cjal-3260	182	2	d.	d.	PROPN
cjal-3260	182	3	32	32	NUM
cjal-3260	182	4	claessens	claessen	VERB
cjal-3260	182	5	et	et	PROPN
cjal-3260	182	6	al	al	PROPN
cjal-3260	182	7	.	.	PROPN
cjal-3260	182	8	,	,	PUNCT
cjal-3260	182	9	supra	supra	PROPN
cjal-3260	182	10	note	note	PROPN
cjal-3260	182	11	8	8	NUM
cjal-3260	182	12	.	.	X
cjal-3260	183	1	33	33	NUM
cjal-3260	183	2	krishnamurti	krishnamurti	PROPN
cjal-3260	183	3	et	et	PROPN
cjal-3260	183	4	al	al	PROPN
cjal-3260	183	5	.	.	PROPN
cjal-3260	183	6	,	,	PUNCT
cjal-3260	183	7	supra	supra	PROPN
cjal-3260	183	8	note	note	PROPN
cjal-3260	183	9	29	29	NUM
cjal-3260	183	10	,	,	PUNCT
cjal-3260	183	11	at	at	ADP
cjal-3260	183	12	4	4	NUM
cjal-3260	183	13	.	.	NUM
cjal-3260	183	14	34	34	NUM
cjal-3260	184	1	i	i	PRON
cjal-3260	184	2	d.	d.	PROPN
cjal-3260	184	3	at	at	ADP
cjal-3260	184	4	20	20	NUM
cjal-3260	184	5	.	.	PUNCT
cjal-3260	185	1	2007	2007	NUM
cjal-3260	185	2	]	]	PUNCT
cjal-3260	185	3	395	395	NUM
cjal-3260	185	4	columbia	columbia	PROPN
cjal-3260	185	5	journal	journal	PROPN
cjal-3260	185	6	of	of	ADP
cjal-3260	185	7	asian	asian	PROPN
cjal-3260	185	8	law	law	PROPN
cjal-3260	185	9	iii	iii	PROPN
cjal-3260	185	10	.	.	PUNCT
cjal-3260	186	1	precedent	precedent	NOUN
cjal-3260	186	2	:	:	PUNCT
cjal-3260	186	3	anti	anti	ADJ
cjal-3260	186	4	-	-	ADJ
cjal-3260	186	5	takeover	takeover	ADJ
cjal-3260	186	6	defense	defense	NOUN
cjal-3260	186	7	from	from	ADP
cjal-3260	186	8	elsewhere	elsewhere	ADV
cjal-3260	186	9	the	the	DET
cjal-3260	186	10	history	history	NOUN
cjal-3260	186	11	of	of	ADP
cjal-3260	186	12	hostile	hostile	ADJ
cjal-3260	186	13	takeover	takeover	NOUN
cjal-3260	186	14	methods	method	NOUN
cjal-3260	186	15	and	and	CCONJ
cjal-3260	186	16	their	their	PRON
cjal-3260	186	17	corresponding	corresponding	ADJ
cjal-3260	186	18	defensive	defensive	ADJ
cjal-3260	186	19	weapons	weapon	NOUN
cjal-3260	186	20	developed	develop	VERB
cjal-3260	186	21	like	like	ADP
cjal-3260	186	22	an	an	DET
cjal-3260	186	23	arms	arm	NOUN
cjal-3260	186	24	race.35	race.35	NOUN
cjal-3260	186	25	only	only	ADV
cjal-3260	186	26	the	the	DET
cjal-3260	186	27	weapons	weapon	NOUN
cjal-3260	186	28	most	most	ADV
cjal-3260	186	29	sought	seek	VERB
cjal-3260	186	30	after	after	ADP
cjal-3260	186	31	are	be	AUX
cjal-3260	186	32	described	describe	VERB
cjal-3260	186	33	here	here	ADV
cjal-3260	186	34	.	.	PUNCT
cjal-3260	187	1	this	this	DET
cjal-3260	187	2	section	section	NOUN
cjal-3260	187	3	evaluates	evaluate	VERB
cjal-3260	187	4	the	the	DET
cjal-3260	187	5	background	background	NOUN
cjal-3260	187	6	and	and	CCONJ
cjal-3260	187	7	current	current	ADJ
cjal-3260	187	8	state	state	NOUN
cjal-3260	187	9	of	of	ADP
cjal-3260	187	10	the	the	DET
cjal-3260	187	11	defense	defense	NOUN
cjal-3260	187	12	and	and	CCONJ
cjal-3260	187	13	takeover	takeover	NOUN
cjal-3260	187	14	policy	policy	NOUN
cjal-3260	187	15	debate	debate	NOUN
cjal-3260	187	16	in	in	ADP
cjal-3260	187	17	the	the	DET
cjal-3260	187	18	jurisdictions	jurisdiction	NOUN
cjal-3260	187	19	in	in	ADP
cjal-3260	187	20	which	which	PRON
cjal-3260	187	21	these	these	DET
cjal-3260	187	22	tools	tool	NOUN
cjal-3260	187	23	originated	originate	VERB
cjal-3260	187	24	.	.	PUNCT
cjal-3260	188	1	the	the	DET
cjal-3260	188	2	best	good	ADJ
cjal-3260	188	3	takeover	takeover	NOUN
cjal-3260	188	4	defense	defense	NOUN
cjal-3260	188	5	requires	require	VERB
cjal-3260	188	6	no	no	DET
cjal-3260	188	7	special	special	ADJ
cjal-3260	188	8	legal	legal	ADJ
cjal-3260	188	9	permission	permission	NOUN
cjal-3260	188	10	,	,	PUNCT
cjal-3260	188	11	maximizes	maximize	VERB
cjal-3260	188	12	social	social	ADJ
cjal-3260	188	13	benefit	benefit	NOUN
cjal-3260	188	14	and	and	CCONJ
cjal-3260	188	15	is	be	AUX
cjal-3260	188	16	highly	highly	ADV
cjal-3260	188	17	effective	effective	ADJ
cjal-3260	188	18	:	:	PUNCT
cjal-3260	188	19	a	a	DET
cjal-3260	188	20	high	high	ADJ
cjal-3260	188	21	share	share	NOUN
cjal-3260	188	22	price	price	NOUN
cjal-3260	188	23	.	.	PUNCT
cjal-3260	189	1	another	another	DET
cjal-3260	189	2	uncontroversial	uncontroversial	ADJ
cjal-3260	189	3	takeover	takeover	NOUN
cjal-3260	189	4	defense	defense	NOUN
cjal-3260	189	5	is	be	AUX
cjal-3260	189	6	for	for	SCONJ
cjal-3260	189	7	the	the	DET
cjal-3260	189	8	controller	controller	NOUN
cjal-3260	189	9	to	to	PART
cjal-3260	189	10	own	own	VERB
cjal-3260	189	11	the	the	DET
cjal-3260	189	12	majority	majority	NOUN
cjal-3260	189	13	of	of	ADP
cjal-3260	189	14	outstanding	outstanding	ADJ
cjal-3260	189	15	shares	share	NOUN
cjal-3260	189	16	.	.	PUNCT
cjal-3260	190	1	other	other	ADJ
cjal-3260	190	2	means	mean	NOUN
cjal-3260	190	3	of	of	ADP
cjal-3260	190	4	protecting	protect	VERB
cjal-3260	190	5	the	the	DET
cjal-3260	190	6	company	company	NOUN
cjal-3260	190	7	are	be	AUX
cjal-3260	190	8	non	non	ADJ
cjal-3260	190	9	-	-	ADJ
cjal-3260	190	10	market	market	NOUN
cjal-3260	190	11	-	-	PUNCT
cjal-3260	190	12	oriented	orient	VERB
cjal-3260	190	13	defenses	defense	NOUN
cjal-3260	190	14	based	base	VERB
cjal-3260	190	15	on	on	ADP
cjal-3260	190	16	instruments	instrument	NOUN
cjal-3260	190	17	of	of	ADP
cjal-3260	190	18	contract	contract	NOUN
cjal-3260	190	19	,	,	PUNCT
cjal-3260	190	20	corporate	corporate	ADJ
cjal-3260	190	21	statute	statute	NOUN
cjal-3260	190	22	,	,	PUNCT
cjal-3260	190	23	or	or	CCONJ
cjal-3260	190	24	political	political	ADJ
cjal-3260	190	25	process	process	NOUN
cjal-3260	190	26	.	.	PUNCT
cjal-3260	191	1	these	these	DET
cjal-3260	191	2	non	non	ADJ
cjal-3260	191	3	-	-	ADJ
cjal-3260	191	4	market	market	ADJ
cjal-3260	191	5	instruments	instrument	NOUN
cjal-3260	191	6	raise	raise	VERB
cjal-3260	191	7	the	the	DET
cjal-3260	191	8	omnipresent	omnipresent	NOUN
cjal-3260	191	9	specter	specter	NOUN
cjal-3260	191	10	of	of	ADP
cjal-3260	191	11	abuse	abuse	NOUN
cjal-3260	191	12	by	by	ADP
cjal-3260	191	13	managers	manager	NOUN
cjal-3260	191	14	seeking	seek	VERB
cjal-3260	191	15	to	to	PART
cjal-3260	191	16	protect	protect	VERB
cjal-3260	191	17	their	their	PRON
cjal-3260	191	18	positions	position	NOUN
cjal-3260	191	19	at	at	ADP
cjal-3260	191	20	the	the	DET
cjal-3260	191	21	expense	expense	NOUN
cjal-3260	191	22	of	of	ADP
cjal-3260	191	23	shareholders	shareholder	NOUN
cjal-3260	191	24	,	,	PUNCT
cjal-3260	191	25	and	and	CCONJ
cjal-3260	191	26	therefore	therefore	ADV
cjal-3260	191	27	are	be	AUX
cjal-3260	191	28	justifiably	justifiably	ADV
cjal-3260	191	29	scrutinized	scrutinize	VERB
cjal-3260	191	30	for	for	ADP
cjal-3260	191	31	their	their	PRON
cjal-3260	191	32	potential	potential	NOUN
cjal-3260	191	33	to	to	PART
cjal-3260	191	34	result	result	VERB
cjal-3260	191	35	in	in	ADP
cjal-3260	191	36	net	net	ADJ
cjal-3260	191	37	social	social	ADJ
cjal-3260	191	38	harm	harm	NOUN
cjal-3260	191	39	.	.	PUNCT
cjal-3260	192	1	the	the	DET
cjal-3260	192	2	legal	legal	ADJ
cjal-3260	192	3	tactics	tactic	NOUN
cjal-3260	192	4	and	and	CCONJ
cjal-3260	192	5	political	political	ADJ
cjal-3260	192	6	procedures	procedure	NOUN
cjal-3260	192	7	effectively	effectively	ADV
cjal-3260	192	8	trump	trump	VERB
cjal-3260	192	9	the	the	DET
cjal-3260	192	10	market	market	NOUN
cjal-3260	192	11	-	-	PUNCT
cjal-3260	192	12	oriented	orient	VERB
cjal-3260	192	13	safeguards	safeguard	NOUN
cjal-3260	192	14	in	in	ADP
cjal-3260	192	15	a	a	DET
cjal-3260	192	16	contest	contest	NOUN
cjal-3260	192	17	for	for	ADP
cjal-3260	192	18	corporate	corporate	ADJ
cjal-3260	192	19	control	control	NOUN
cjal-3260	192	20	or	or	CCONJ
cjal-3260	192	21	prevent	prevent	VERB
cjal-3260	192	22	any	any	DET
cjal-3260	192	23	contest	contest	NOUN
cjal-3260	192	24	from	from	ADP
cjal-3260	192	25	occurring	occur	VERB
cjal-3260	192	26	at	at	ADV
cjal-3260	192	27	all	all	ADV
cjal-3260	192	28	and	and	CCONJ
cjal-3260	192	29	are	be	AUX
cjal-3260	192	30	suspect	suspect	ADJ
cjal-3260	192	31	for	for	ADP
cjal-3260	192	32	that	that	DET
cjal-3260	192	33	reason	reason	NOUN
cjal-3260	192	34	alone	alone	ADV
cjal-3260	192	35	.	.	PUNCT
cjal-3260	193	1	assuming	assume	VERB
cjal-3260	193	2	that	that	SCONJ
cjal-3260	193	3	assets	asset	NOUN
cjal-3260	193	4	are	be	AUX
cjal-3260	193	5	put	put	VERB
cjal-3260	193	6	to	to	ADP
cjal-3260	193	7	their	their	PRON
cjal-3260	193	8	highest	high	ADJ
cjal-3260	193	9	social	social	ADJ
cjal-3260	193	10	use	use	NOUN
cjal-3260	193	11	when	when	SCONJ
cjal-3260	193	12	in	in	ADP
cjal-3260	193	13	the	the	DET
cjal-3260	193	14	hands	hand	NOUN
cjal-3260	193	15	of	of	ADP
cjal-3260	193	16	the	the	DET
cjal-3260	193	17	party	party	NOUN
cjal-3260	193	18	willing	willing	ADJ
cjal-3260	193	19	to	to	PART
cjal-3260	193	20	bid	bid	VERB
cjal-3260	193	21	the	the	DET
cjal-3260	193	22	highest	high	ADJ
cjal-3260	193	23	price	price	NOUN
cjal-3260	193	24	for	for	ADP
cjal-3260	193	25	them	they	PRON
cjal-3260	193	26	,	,	PUNCT
cjal-3260	193	27	a	a	DET
cjal-3260	193	28	mechanism	mechanism	NOUN
cjal-3260	193	29	that	that	PRON
cjal-3260	193	30	removes	remove	VERB
cjal-3260	193	31	price	price	NOUN
cjal-3260	193	32	from	from	ADP
cjal-3260	193	33	the	the	DET
cjal-3260	193	34	determinant	determinant	NOUN
cjal-3260	193	35	of	of	ADP
cjal-3260	193	36	the	the	DET
cjal-3260	193	37	winner	winner	NOUN
cjal-3260	193	38	in	in	ADP
cjal-3260	193	39	a	a	DET
cjal-3260	193	40	bid	bid	NOUN
cjal-3260	193	41	for	for	ADP
cjal-3260	193	42	corporate	corporate	ADJ
cjal-3260	193	43	assets	asset	NOUN
cjal-3260	193	44	must	must	AUX
cjal-3260	193	45	be	be	AUX
cjal-3260	193	46	based	base	VERB
cjal-3260	193	47	on	on	ADP
cjal-3260	193	48	some	some	DET
cjal-3260	193	49	other	other	ADJ
cjal-3260	193	50	overriding	override	VERB
cjal-3260	193	51	social	social	ADJ
cjal-3260	193	52	benefit	benefit	NOUN
cjal-3260	193	53	.	.	PUNCT
cjal-3260	194	1	in	in	ADP
cjal-3260	194	2	the	the	DET
cjal-3260	194	3	case	case	NOUN
cjal-3260	194	4	of	of	ADP
cjal-3260	194	5	defensive	defensive	ADJ
cjal-3260	194	6	measures	measure	NOUN
cjal-3260	194	7	that	that	PRON
cjal-3260	194	8	allow	allow	VERB
cjal-3260	194	9	the	the	DET
cjal-3260	194	10	company	company	NOUN
cjal-3260	194	11	to	to	PART
cjal-3260	194	12	"	"	PUNCT
cjal-3260	194	13	just	just	ADV
cjal-3260	194	14	say	say	VERB
cjal-3260	194	15	no	no	INTJ
cjal-3260	194	16	"	"	PUNCT
cjal-3260	194	17	to	to	ADP
cjal-3260	194	18	a	a	DET
cjal-3260	194	19	premium	premium	NOUN
cjal-3260	194	20	bid	bid	NOUN
cjal-3260	194	21	,	,	PUNCT
cjal-3260	194	22	the	the	DET
cjal-3260	194	23	justifying	justifying	NOUN
cjal-3260	194	24	benefit	benefit	NOUN
cjal-3260	194	25	is	be	AUX
cjal-3260	194	26	the	the	DET
cjal-3260	194	27	preservation	preservation	NOUN
cjal-3260	194	28	of	of	ADP
cjal-3260	194	29	the	the	DET
cjal-3260	194	30	corporation	corporation	NOUN
cjal-3260	194	31	in	in	ADP
cjal-3260	194	32	its	its	PRON
cjal-3260	194	33	current	current	ADJ
cjal-3260	194	34	form	form	NOUN
cjal-3260	194	35	,	,	PUNCT
cjal-3260	194	36	including	include	VERB
cjal-3260	194	37	its	its	PRON
cjal-3260	194	38	management	management	NOUN
cjal-3260	194	39	team	team	NOUN
cjal-3260	194	40	,	,	PUNCT
cjal-3260	194	41	capital	capital	NOUN
cjal-3260	194	42	structure	structure	NOUN
cjal-3260	194	43	,	,	PUNCT
cjal-3260	194	44	employees	employee	NOUN
cjal-3260	194	45	and	and	CCONJ
cjal-3260	194	46	operations	operation	NOUN
cjal-3260	194	47	.	.	PUNCT
cjal-3260	195	1	in	in	ADP
cjal-3260	195	2	some	some	DET
cjal-3260	195	3	estimations	estimation	NOUN
cjal-3260	195	4	,	,	PUNCT
cjal-3260	195	5	the	the	DET
cjal-3260	195	6	premium	premium	NOUN
cjal-3260	195	7	is	be	AUX
cjal-3260	195	8	not	not	PART
cjal-3260	195	9	persuasive	persuasive	ADJ
cjal-3260	195	10	because	because	SCONJ
cjal-3260	195	11	the	the	DET
cjal-3260	195	12	market	market	NOUN
cjal-3260	195	13	price	price	NOUN
cjal-3260	195	14	for	for	ADP
cjal-3260	195	15	a	a	DET
cjal-3260	195	16	company	company	NOUN
cjal-3260	195	17	's	's	PART
cjal-3260	195	18	shares	share	NOUN
cjal-3260	195	19	is	be	AUX
cjal-3260	195	20	not	not	PART
cjal-3260	195	21	trustworthy	trustworthy	ADJ
cjal-3260	195	22	i.e.	i.e.	X
cjal-3260	195	23	,	,	PUNCT
cjal-3260	195	24	it	it	PRON
cjal-3260	195	25	does	do	AUX
cjal-3260	195	26	not	not	PART
cjal-3260	195	27	capture	capture	VERB
cjal-3260	195	28	long	long	ADV
cjal-3260	195	29	-	-	PUNCT
cjal-3260	195	30	run	run	VERB
cjal-3260	195	31	value	value	NOUN
cjal-3260	195	32	or	or	CCONJ
cjal-3260	195	33	the	the	DET
cjal-3260	195	34	price	price	NOUN
cjal-3260	195	35	of	of	ADP
cjal-3260	195	36	good	good	ADJ
cjal-3260	195	37	will	will	NOUN
cjal-3260	195	38	but	but	CCONJ
cjal-3260	195	39	gives	give	VERB
cjal-3260	195	40	rise	rise	VERB
cjal-3260	195	41	to	to	ADP
cjal-3260	195	42	a	a	DET
cjal-3260	195	43	conflict	conflict	NOUN
cjal-3260	195	44	of	of	ADP
cjal-3260	195	45	interest	interest	NOUN
cjal-3260	195	46	between	between	ADP
cjal-3260	195	47	"	"	PUNCT
cjal-3260	195	48	investors	investor	NOUN
cjal-3260	195	49	who	who	PRON
cjal-3260	195	50	plan	plan	VERB
cjal-3260	195	51	to	to	PART
cjal-3260	195	52	sell	sell	VERB
cjal-3260	195	53	their	their	PRON
cjal-3260	195	54	shares	share	NOUN
cjal-3260	195	55	in	in	ADP
cjal-3260	195	56	the	the	DET
cjal-3260	195	57	near	near	ADJ
cjal-3260	195	58	future	future	NOUN
cjal-3260	195	59	(	(	PUNCT
cjal-3260	195	60	who	who	PRON
cjal-3260	195	61	care	care	VERB
cjal-3260	195	62	only	only	ADV
cjal-3260	195	63	about	about	ADP
cjal-3260	195	64	today	today	NOUN
cjal-3260	195	65	's	's	PART
cjal-3260	195	66	market	market	NOUN
cjal-3260	195	67	price	price	NOUN
cjal-3260	195	68	)	)	PUNCT
cjal-3260	195	69	and	and	CCONJ
cjal-3260	195	70	investors	investor	NOUN
cjal-3260	195	71	who	who	PRON
cjal-3260	195	72	plan	plan	VERB
cjal-3260	195	73	to	to	PART
cjal-3260	195	74	hold	hold	VERB
cjal-3260	195	75	their	their	PRON
cjal-3260	195	76	shares	share	NOUN
cjal-3260	195	77	(	(	PUNCT
cjal-3260	195	78	who	who	PRON
cjal-3260	195	79	care	care	VERB
cjal-3260	195	80	about	about	ADP
cjal-3260	195	81	longrun	longrun	ADJ
cjal-3260	195	82	economic	economic	ADJ
cjal-3260	195	83	performance	performance	NOUN
cjal-3260	195	84	)	)	PUNCT
cjal-3260	195	85	.	.	PUNCT
cjal-3260	196	1	36	36	NUM
cjal-3260	196	2	efficiently	efficiently	ADV
cjal-3260	196	3	priced	price	VERB
cjal-3260	196	4	capital	capital	NOUN
cjal-3260	196	5	markets	market	NOUN
cjal-3260	196	6	would	would	AUX
cjal-3260	196	7	alleviate	alleviate	VERB
cjal-3260	196	8	this	this	DET
cjal-3260	196	9	conflict	conflict	NOUN
cjal-3260	196	10	and	and	CCONJ
cjal-3260	196	11	likely	likely	ADV
cjal-3260	196	12	represent	represent	VERB
cjal-3260	196	13	the	the	DET
cjal-3260	196	14	best	good	ADJ
cjal-3260	196	15	hope	hope	NOUN
cjal-3260	196	16	for	for	ADP
cjal-3260	196	17	a	a	DET
cjal-3260	196	18	properly	properly	ADV
cjal-3260	196	19	functioning	functioning	ADJ
cjal-3260	196	20	,	,	PUNCT
cjal-3260	196	21	beneficial	beneficial	ADJ
cjal-3260	196	22	market	market	NOUN
cjal-3260	196	23	for	for	ADP
cjal-3260	196	24	corporate	corporate	ADJ
cjal-3260	196	25	control	control	NOUN
cjal-3260	196	26	.	.	PUNCT
cjal-3260	197	1	defensive	defensive	ADJ
cjal-3260	197	2	maneuvers	maneuver	NOUN
cjal-3260	197	3	can	can	AUX
cjal-3260	197	4	not	not	PART
cjal-3260	197	5	be	be	AUX
cjal-3260	197	6	justified	justify	VERB
cjal-3260	197	7	as	as	ADP
cjal-3260	197	8	a	a	DET
cjal-3260	197	9	means	means	NOUN
cjal-3260	197	10	to	to	PART
cjal-3260	197	11	shield	shield	VERB
cjal-3260	197	12	company	company	NOUN
cjal-3260	197	13	managers	manager	NOUN
cjal-3260	197	14	and	and	CCONJ
cjal-3260	197	15	boards	board	NOUN
cjal-3260	197	16	from	from	ADP
cjal-3260	197	17	the	the	DET
cjal-3260	197	18	market	market	NOUN
cjal-3260	197	19	impact	impact	NOUN
cjal-3260	197	20	of	of	ADP
cjal-3260	197	21	their	their	PRON
cjal-3260	197	22	performance	performance	NOUN
cjal-3260	197	23	.	.	PUNCT
cjal-3260	198	1	35	35	NUM
cjal-3260	198	2	for	for	ADP
cjal-3260	198	3	an	an	DET
cjal-3260	198	4	overview	overview	NOUN
cjal-3260	198	5	of	of	ADP
cjal-3260	198	6	this	this	DET
cjal-3260	198	7	history	history	NOUN
cjal-3260	198	8	and	and	CCONJ
cjal-3260	198	9	its	its	PRON
cjal-3260	198	10	lively	lively	ADJ
cjal-3260	198	11	nomenclature	nomenclature	NOUN
cjal-3260	198	12	,	,	PUNCT
cjal-3260	198	13	see	see	VERB
cjal-3260	198	14	ronald	ronald	PROPN
cjal-3260	198	15	j.	j.	PROPN
cjal-3260	198	16	gilson	gilson	PROPN
cjal-3260	198	17	&	&	CCONJ
cjal-3260	198	18	bernard	bernard	PROPN
cjal-3260	198	19	s.	s.	PROPN
cjal-3260	198	20	black	black	PROPN
cjal-3260	198	21	,	,	PUNCT
cjal-3260	198	22	the	the	DET
cjal-3260	198	23	law	law	NOUN
cjal-3260	198	24	and	and	CCONJ
cjal-3260	198	25	finance	finance	NOUN
cjal-3260	198	26	of	of	ADP
cjal-3260	198	27	corporate	corporate	ADJ
cjal-3260	198	28	acquisitions	acquisition	NOUN
cjal-3260	198	29	(	(	PUNCT
cjal-3260	198	30	2d	2d	NUM
cjal-3260	198	31	ed	ed	NOUN
cjal-3260	198	32	.	.	PROPN
cjal-3260	198	33	1995	1995	NUM
cjal-3260	198	34	)	)	PUNCT
cjal-3260	198	35	.	.	PUNCT
cjal-3260	199	1	36	36	NUM
cjal-3260	199	2	lynn	lynn	PROPN
cjal-3260	199	3	stout	stout	PROPN
cjal-3260	199	4	,	,	PUNCT
cjal-3260	199	5	takeovers	takeover	NOUN
cjal-3260	199	6	in	in	ADP
cjal-3260	199	7	the	the	DET
cjal-3260	199	8	ivory	ivory	PROPN
cjal-3260	199	9	tower	tower	PROPN
cjal-3260	199	10	:	:	PUNCT
cjal-3260	199	11	how	how	SCONJ
cjal-3260	199	12	academics	academic	NOUN
cjal-3260	199	13	are	be	AUX
cjal-3260	199	14	learning	learn	VERB
cjal-3260	199	15	martin	martin	PROPN
cjal-3260	199	16	lipton	lipton	PROPN
cjal-3260	199	17	may	may	AUX
cjal-3260	199	18	be	be	AUX
cjal-3260	199	19	right	right	ADJ
cjal-3260	199	20	,	,	PUNCT
cjal-3260	199	21	60	60	NUM
cjal-3260	199	22	bus	bus	NOUN
cjal-3260	199	23	.	.	PUNCT
cjal-3260	200	1	law	law	NOUN
cjal-3260	200	2	.	.	PUNCT
cjal-3260	201	1	1435	1435	NUM
cjal-3260	201	2	(	(	PUNCT
cjal-3260	201	3	2005	2005	NUM
cjal-3260	201	4	)	)	PUNCT
cjal-3260	201	5	.	.	PUNCT
cjal-3260	202	1	396	396	NUM
cjal-3260	203	1	[	[	X
cjal-3260	203	2	20:2	20:2	NUM
cjal-3260	203	3	national	national	ADJ
cjal-3260	203	4	markets	market	NOUN
cjal-3260	203	5	,	,	PUNCT
cjal-3260	203	6	new	new	ADJ
cjal-3260	203	7	defenses	defense	NOUN
cjal-3260	203	8	a.	a.	NOUN
cjal-3260	203	9	the	the	DET
cjal-3260	203	10	united	united	PROPN
cjal-3260	203	11	states	states	PROPN
cjal-3260	203	12	:	:	PUNCT
cjal-3260	203	13	pills	pill	NOUN
cjal-3260	203	14	,	,	PUNCT
cjal-3260	203	15	polls	poll	NOUN
cjal-3260	203	16	,	,	PUNCT
cjal-3260	203	17	professors	professor	NOUN
cjal-3260	203	18	,	,	PUNCT
cjal-3260	203	19	delaware	delaware	PROPN
cjal-3260	203	20	and	and	CCONJ
cjal-3260	203	21	the	the	DET
cjal-3260	203	22	mythic	mythic	ADJ
cjal-3260	203	23	shareholder	shareholder	NOUN
cjal-3260	203	24	takeover	takeover	NOUN
cjal-3260	203	25	laws	law	NOUN
cjal-3260	203	26	or	or	CCONJ
cjal-3260	203	27	regulations	regulation	NOUN
cjal-3260	203	28	,	,	PUNCT
cjal-3260	203	29	including	include	VERB
cjal-3260	203	30	those	those	PRON
cjal-3260	203	31	in	in	ADP
cjal-3260	203	32	company	company	NOUN
cjal-3260	203	33	and	and	CCONJ
cjal-3260	203	34	securities	security	NOUN
cjal-3260	203	35	laws	law	NOUN
cjal-3260	203	36	or	or	CCONJ
cjal-3260	203	37	stock	stock	NOUN
cjal-3260	203	38	exchange	exchange	NOUN
cjal-3260	203	39	listing	list	VERB
cjal-3260	203	40	rules	rule	NOUN
cjal-3260	203	41	,	,	PUNCT
cjal-3260	203	42	generally	generally	ADV
cjal-3260	203	43	regulate	regulate	VERB
cjal-3260	203	44	the	the	DET
cjal-3260	203	45	process	process	NOUN
cjal-3260	203	46	of	of	ADP
cjal-3260	203	47	hostile	hostile	ADJ
cjal-3260	203	48	acquisitions	acquisition	NOUN
cjal-3260	203	49	in	in	ADP
cjal-3260	203	50	the	the	DET
cjal-3260	203	51	interest	interest	NOUN
cjal-3260	203	52	of	of	ADP
cjal-3260	203	53	fairness	fairness	NOUN
cjal-3260	203	54	to	to	ADP
cjal-3260	203	55	all	all	DET
cjal-3260	203	56	shareholders	shareholder	NOUN
cjal-3260	203	57	,	,	PUNCT
cjal-3260	203	58	with	with	ADP
cjal-3260	203	59	the	the	DET
cjal-3260	203	60	effect	effect	NOUN
cjal-3260	203	61	of	of	ADP
cjal-3260	203	62	eliminating	eliminate	VERB
cjal-3260	203	63	a	a	DET
cjal-3260	203	64	large	large	ADJ
cjal-3260	203	65	swath	swath	NOUN
cjal-3260	203	66	of	of	ADP
cjal-3260	203	67	inadequate	inadequate	ADJ
cjal-3260	203	68	or	or	CCONJ
cjal-3260	203	69	coercive	coercive	ADJ
cjal-3260	203	70	bids	bid	NOUN
cjal-3260	203	71	via	via	ADP
cjal-3260	203	72	mandatory	mandatory	ADJ
cjal-3260	203	73	bid	bid	NOUN
cjal-3260	203	74	rules	rule	NOUN
cjal-3260	203	75	and	and	CCONJ
cjal-3260	203	76	tender	tender	NOUN
cjal-3260	203	77	offer	offer	NOUN
cjal-3260	203	78	regulations	regulation	NOUN
cjal-3260	203	79	.	.	PUNCT
cjal-3260	204	1	contractual	contractual	ADJ
cjal-3260	204	2	provisions	provision	NOUN
cjal-3260	204	3	between	between	ADP
cjal-3260	204	4	the	the	DET
cjal-3260	204	5	target	target	NOUN
cjal-3260	204	6	company	company	NOUN
cjal-3260	204	7	and	and	CCONJ
cjal-3260	204	8	its	its	PRON
cjal-3260	204	9	executives	executive	NOUN
cjal-3260	204	10	,	,	PUNCT
cjal-3260	204	11	labor	labor	NOUN
cjal-3260	204	12	unions	union	NOUN
cjal-3260	204	13	,	,	PUNCT
cjal-3260	204	14	suppliers	supplier	NOUN
cjal-3260	204	15	,	,	PUNCT
cjal-3260	204	16	customers	customer	NOUN
cjal-3260	204	17	and	and	CCONJ
cjal-3260	204	18	others	other	NOUN
cjal-3260	204	19	can	can	AUX
cjal-3260	204	20	effectively	effectively	ADV
cjal-3260	204	21	booby	booby	NOUN
cjal-3260	204	22	-	-	PUNCT
cjal-3260	204	23	trap	trap	NOUN
cjal-3260	204	24	a	a	DET
cjal-3260	204	25	company	company	NOUN
cjal-3260	204	26	with	with	ADP
cjal-3260	204	27	change	change	NOUN
cjal-3260	204	28	-	-	PUNCT
cjal-3260	204	29	of	of	ADP
cjal-3260	204	30	-	-	PUNCT
cjal-3260	204	31	control	control	NOUN
cjal-3260	204	32	provisions	provision	NOUN
cjal-3260	204	33	that	that	PRON
cjal-3260	204	34	are	be	AUX
cjal-3260	204	35	expensive	expensive	ADJ
cjal-3260	204	36	or	or	CCONJ
cjal-3260	204	37	destructive	destructive	ADJ
cjal-3260	204	38	to	to	PART
cjal-3260	204	39	firm	firm	ADJ
cjal-3260	204	40	value	value	NOUN
cjal-3260	204	41	if	if	SCONJ
cjal-3260	204	42	triggered	trigger	VERB
cjal-3260	204	43	.	.	PUNCT
cjal-3260	205	1	indeed	indeed	ADV
cjal-3260	205	2	,	,	PUNCT
cjal-3260	205	3	the	the	DET
cjal-3260	205	4	golden	golden	ADJ
cjal-3260	205	5	parachute	parachute	NOUN
cjal-3260	205	6	is	be	AUX
cjal-3260	205	7	so	so	ADV
cjal-3260	205	8	common	common	ADJ
cjal-3260	205	9	for	for	ADP
cjal-3260	205	10	executives	executive	NOUN
cjal-3260	205	11	at	at	ADP
cjal-3260	205	12	american	american	ADJ
cjal-3260	205	13	companies	company	NOUN
cjal-3260	205	14	that	that	SCONJ
cjal-3260	205	15	it	it	PRON
cjal-3260	205	16	effectively	effectively	ADV
cjal-3260	205	17	has	have	AUX
cjal-3260	205	18	removed	remove	VERB
cjal-3260	205	19	the	the	DET
cjal-3260	205	20	fear	fear	NOUN
cjal-3260	205	21	of	of	ADP
cjal-3260	205	22	or	or	CCONJ
cjal-3260	205	23	at	at	ADP
cjal-3260	205	24	least	least	ADJ
cjal-3260	205	25	any	any	DET
cjal-3260	205	26	material	material	NOUN
cjal-3260	205	27	incentive	incentive	NOUN
cjal-3260	205	28	to	to	PART
cjal-3260	205	29	decline	decline	VERB
cjal-3260	205	30	takeover	takeover	NOUN
cjal-3260	205	31	bids	bid	NOUN
cjal-3260	205	32	at	at	ADP
cjal-3260	205	33	many	many	ADJ
cjal-3260	205	34	u.s	u.s	PROPN
cjal-3260	205	35	.	.	PROPN
cjal-3260	205	36	companies	company	NOUN
cjal-3260	205	37	.	.	PUNCT
cjal-3260	206	1	3	3	NUM
cjal-3260	206	2	this	this	PRON
cjal-3260	206	3	was	be	AUX
cjal-3260	206	4	intentional	intentional	ADJ
cjal-3260	206	5	.	.	PUNCT
cjal-3260	207	1	executives	executive	NOUN
cjal-3260	207	2	'	'	PART
cjal-3260	207	3	incentives	incentive	NOUN
cjal-3260	207	4	are	be	AUX
cjal-3260	207	5	thought	think	VERB
cjal-3260	207	6	to	to	PART
cjal-3260	207	7	be	be	AUX
cjal-3260	207	8	more	more	ADV
cjal-3260	207	9	closely	closely	ADV
cjal-3260	207	10	aligned	align	VERB
cjal-3260	207	11	with	with	ADP
cjal-3260	207	12	their	their	PRON
cjal-3260	207	13	shareholders	shareholder	NOUN
cjal-3260	207	14	'	'	PUNCT
cjal-3260	207	15	if	if	SCONJ
cjal-3260	207	16	they	they	PRON
cjal-3260	207	17	stand	stand	VERB
cjal-3260	207	18	to	to	PART
cjal-3260	207	19	gain	gain	VERB
cjal-3260	207	20	from	from	ADP
cjal-3260	207	21	a	a	DET
cjal-3260	207	22	change	change	NOUN
cjal-3260	207	23	of	of	ADP
cjal-3260	207	24	control	control	NOUN
cjal-3260	207	25	alongside	alongside	ADP
cjal-3260	207	26	shareholders	shareholder	NOUN
cjal-3260	207	27	;	;	PUNCT
cjal-3260	207	28	the	the	DET
cjal-3260	207	29	risk	risk	NOUN
cjal-3260	207	30	of	of	ADP
cjal-3260	207	31	managers	manager	NOUN
cjal-3260	207	32	'	'	PART
cjal-3260	207	33	losing	lose	VERB
cjal-3260	207	34	their	their	PRON
cjal-3260	207	35	salary	salary	NOUN
cjal-3260	207	36	is	be	AUX
cjal-3260	207	37	offset	offset	VERB
cjal-3260	207	38	by	by	ADP
cjal-3260	207	39	the	the	DET
cjal-3260	207	40	typical	typical	ADJ
cjal-3260	207	41	termination	termination	NOUN
cjal-3260	207	42	payments	payment	NOUN
cjal-3260	207	43	within	within	ADP
cjal-3260	207	44	a	a	DET
cjal-3260	207	45	year	year	NOUN
cjal-3260	207	46	or	or	CCONJ
cjal-3260	207	47	so	so	ADV
cjal-3260	207	48	following	follow	VERB
cjal-3260	207	49	a	a	DET
cjal-3260	207	50	change	change	NOUN
cjal-3260	207	51	in	in	ADP
cjal-3260	207	52	control	control	NOUN
cjal-3260	207	53	that	that	PRON
cjal-3260	207	54	are	be	AUX
cjal-3260	207	55	usually	usually	ADV
cjal-3260	207	56	three	three	NUM
cjal-3260	207	57	times	time	NOUN
cjal-3260	207	58	pre	pre	ADJ
cjal-3260	207	59	-	-	ADJ
cjal-3260	207	60	termination	termination	ADJ
cjal-3260	207	61	compensation	compensation	NOUN
cjal-3260	207	62	.	.	PUNCT
cjal-3260	208	1	other	other	ADJ
cjal-3260	208	2	techniques	technique	NOUN
cjal-3260	208	3	to	to	PART
cjal-3260	208	4	deter	deter	VERB
cjal-3260	208	5	takeovers	takeover	NOUN
cjal-3260	208	6	were	be	AUX
cjal-3260	208	7	of	of	ADP
cjal-3260	208	8	brief	brief	ADJ
cjal-3260	208	9	importance	importance	NOUN
cjal-3260	208	10	in	in	ADP
cjal-3260	208	11	the	the	DET
cjal-3260	208	12	u.s	u.s	PROPN
cjal-3260	208	13	.	.	PROPN
cjal-3260	208	14	experience	experience	NOUN
cjal-3260	208	15	and	and	CCONJ
cjal-3260	208	16	still	still	ADV
cjal-3260	208	17	arise	arise	VERB
cjal-3260	208	18	from	from	ADP
cjal-3260	208	19	time	time	NOUN
cjal-3260	208	20	to	to	ADP
cjal-3260	208	21	time	time	NOUN
cjal-3260	208	22	,	,	PUNCT
cjal-3260	208	23	including	include	VERB
cjal-3260	208	24	such	such	ADJ
cjal-3260	208	25	exotica	exotica	PROPN
cjal-3260	208	26	as	as	ADP
cjal-3260	208	27	shark	shark	NOUN
cjal-3260	208	28	repellents	repellent	NOUN
cjal-3260	208	29	,	,	PUNCT
cjal-3260	208	30	greenmail	greenmail	NOUN
cjal-3260	208	31	,	,	PUNCT
cjal-3260	208	32	white	white	ADJ
cjal-3260	208	33	knights	knight	NOUN
cjal-3260	208	34	and	and	CCONJ
cjal-3260	208	35	the	the	DET
cjal-3260	208	36	pac	pac	PROPN
cjal-3260	208	37	-	-	PROPN
cjal-3260	208	38	man	man	NOUN
cjal-3260	208	39	defense.38	defense.38	PROPN
cjal-3260	208	40	however	however	ADV
cjal-3260	208	41	,	,	PUNCT
cjal-3260	208	42	a	a	DET
cjal-3260	208	43	cocktail	cocktail	NOUN
cjal-3260	208	44	with	with	ADP
cjal-3260	208	45	two	two	NUM
cjal-3260	208	46	ingredients	ingredient	NOUN
cjal-3260	208	47	turned	turn	VERB
cjal-3260	208	48	out	out	ADP
cjal-3260	208	49	to	to	PART
cjal-3260	208	50	offer	offer	VERB
cjal-3260	208	51	the	the	DET
cjal-3260	208	52	full	full	ADJ
cjal-3260	208	53	remedy	remedy	NOUN
cjal-3260	208	54	for	for	ADP
cjal-3260	208	55	most	most	ADJ
cjal-3260	208	56	american	american	ADJ
cjal-3260	208	57	companies	company	NOUN
cjal-3260	208	58	:	:	PUNCT
cjal-3260	208	59	the	the	DET
cjal-3260	208	60	staggered	staggered	ADJ
cjal-3260	208	61	board	board	NOUN
cjal-3260	208	62	and	and	CCONJ
cjal-3260	208	63	the	the	DET
cjal-3260	208	64	poison	poison	NOUN
cjal-3260	208	65	pill	pill	NOUN
cjal-3260	208	66	.	.	PUNCT
cjal-3260	209	1	b.	b.	PROPN
cjal-3260	209	2	staggered	staggered	ADJ
cjal-3260	209	3	boards	board	NOUN
cjal-3260	209	4	the	the	DET
cjal-3260	209	5	corporate	corporate	ADJ
cjal-3260	209	6	form	form	NOUN
cjal-3260	209	7	lends	lend	VERB
cjal-3260	209	8	itself	itself	PRON
cjal-3260	209	9	to	to	ADP
cjal-3260	209	10	a	a	DET
cjal-3260	209	11	variety	variety	NOUN
cjal-3260	209	12	of	of	ADP
cjal-3260	209	13	structures	structure	NOUN
cjal-3260	209	14	that	that	PRON
cjal-3260	209	15	make	make	VERB
cjal-3260	209	16	transfer	transfer	NOUN
cjal-3260	209	17	of	of	ADP
cjal-3260	209	18	control	control	NOUN
cjal-3260	209	19	of	of	ADP
cjal-3260	209	20	the	the	DET
cjal-3260	209	21	board	board	NOUN
cjal-3260	209	22	expensive	expensive	ADJ
cjal-3260	209	23	,	,	PUNCT
cjal-3260	209	24	difficult	difficult	ADJ
cjal-3260	209	25	or	or	CCONJ
cjal-3260	209	26	impossible	impossible	ADJ
cjal-3260	209	27	.	.	PUNCT
cjal-3260	210	1	the	the	DET
cjal-3260	210	2	class	class	NOUN
cjal-3260	210	3	of	of	ADP
cjal-3260	210	4	measures	measure	NOUN
cjal-3260	210	5	meant	mean	VERB
cjal-3260	210	6	to	to	PART
cjal-3260	210	7	deter	deter	VERB
cjal-3260	210	8	a	a	DET
cjal-3260	210	9	hostile	hostile	ADJ
cjal-3260	210	10	takeover	takeover	NOUN
cjal-3260	210	11	attempt	attempt	NOUN
cjal-3260	210	12	ex	ex	PRON
cjal-3260	210	13	ante	ante	NOUN
cjal-3260	210	14	includes	include	VERB
cjal-3260	210	15	a	a	DET
cjal-3260	210	16	set	set	NOUN
cjal-3260	210	17	of	of	ADP
cjal-3260	210	18	rules	rule	NOUN
cjal-3260	210	19	for	for	ADP
cjal-3260	210	20	the	the	DET
cjal-3260	210	21	board	board	NOUN
cjal-3260	210	22	of	of	ADP
cjal-3260	210	23	directors	director	NOUN
cjal-3260	210	24	that	that	PRON
cjal-3260	210	25	renders	render	VERB
cjal-3260	210	26	impossible	impossible	ADJ
cjal-3260	210	27	their	their	PRON
cjal-3260	210	28	quick	quick	ADJ
cjal-3260	210	29	replacement	replacement	NOUN
cjal-3260	210	30	at	at	ADP
cjal-3260	210	31	a	a	DET
cjal-3260	210	32	single	single	ADJ
cjal-3260	210	33	annual	annual	ADJ
cjal-3260	210	34	meeting	meeting	NOUN
cjal-3260	210	35	or	or	CCONJ
cjal-3260	210	36	at	at	ADP
cjal-3260	210	37	a	a	DET
cjal-3260	210	38	meeting	meeting	NOUN
cjal-3260	210	39	specially	specially	ADV
cjal-3260	210	40	called	call	VERB
cjal-3260	210	41	by	by	ADP
cjal-3260	210	42	a	a	DET
cjal-3260	210	43	new	new	ADJ
cjal-3260	210	44	majority	majority	NOUN
cjal-3260	210	45	shareholder	shareholder	NOUN
cjal-3260	210	46	.	.	PUNCT
cjal-3260	211	1	a	a	DET
cjal-3260	211	2	staggered	staggered	ADJ
cjal-3260	211	3	board	board	NOUN
cjal-3260	211	4	,	,	PUNCT
cjal-3260	211	5	with	with	ADP
cjal-3260	211	6	a	a	DET
cjal-3260	211	7	number	number	NOUN
cjal-3260	211	8	of	of	ADP
cjal-3260	211	9	classes	class	NOUN
cjal-3260	211	10	of	of	ADP
cjal-3260	211	11	directors	director	NOUN
cjal-3260	211	12	usually	usually	ADV
cjal-3260	211	13	limited	limit	VERB
cjal-3260	211	14	by	by	ADP
cjal-3260	211	15	law	law	NOUN
cjal-3260	211	16	to	to	ADP
cjal-3260	211	17	three	three	NUM
cjal-3260	211	18	meaning	meaning	NOUN
cjal-3260	211	19	that	that	SCONJ
cjal-3260	211	20	one	one	NUM
cjal-3260	211	21	-	-	PUNCT
cjal-3260	211	22	third	third	NOUN
cjal-3260	211	23	are	be	AUX
cjal-3260	211	24	up	up	ADP
cjal-3260	211	25	for	for	ADP
cjal-3260	211	26	re	re	NOUN
cjal-3260	211	27	-	-	NOUN
cjal-3260	211	28	election	election	NOUN
cjal-3260	211	29	each	each	DET
cjal-3260	211	30	year	year	NOUN
cjal-3260	211	31	,	,	PUNCT
cjal-3260	211	32	and	and	CCONJ
cjal-3260	211	33	it	it	PRON
cjal-3260	211	34	will	will	AUX
cjal-3260	211	35	take	take	VERB
cjal-3260	211	36	at	at	ADV
cjal-3260	211	37	least	least	ADV
cjal-3260	211	38	two	two	NUM
cjal-3260	211	39	37	37	NUM
cjal-3260	211	40	marcel	marcel	PROPN
cjal-3260	211	41	kahan	kahan	PROPN
cjal-3260	211	42	&	&	CCONJ
cjal-3260	211	43	edward	edward	PROPN
cjal-3260	211	44	b.	b.	PROPN
cjal-3260	211	45	rock	rock	PROPN
cjal-3260	211	46	,	,	PUNCT
cjal-3260	211	47	how	how	SCONJ
cjal-3260	211	48	i	i	PRON
cjal-3260	211	49	learned	learn	VERB
cjal-3260	211	50	to	to	PART
cjal-3260	211	51	stop	stop	VERB
cjal-3260	211	52	worrying	worry	VERB
cjal-3260	211	53	and	and	CCONJ
cjal-3260	211	54	love	love	VERB
cjal-3260	211	55	the	the	DET
cjal-3260	211	56	pill	pill	NOUN
cjal-3260	211	57	:	:	PUNCT
cjal-3260	211	58	adaptive	adaptive	ADJ
cjal-3260	211	59	responses	response	NOUN
cjal-3260	211	60	to	to	ADP
cjal-3260	211	61	takeover	takeover	NOUN
cjal-3260	211	62	law	law	NOUN
cjal-3260	211	63	,	,	PUNCT
cjal-3260	211	64	69	69	NUM
cjal-3260	211	65	u.	u.	NOUN
cjal-3260	211	66	chi	chi	PROPN
cjal-3260	211	67	.	.	PUNCT
cjal-3260	212	1	l.	l.	PROPN
cjal-3260	212	2	rev	rev	PROPN
cjal-3260	212	3	.	.	PROPN
cjal-3260	212	4	871	871	NUM
cjal-3260	212	5	,	,	PUNCT
cjal-3260	212	6	884	884	NUM
cjal-3260	212	7	(	(	PUNCT
cjal-3260	212	8	2002	2002	NUM
cjal-3260	212	9	)	)	PUNCT
cjal-3260	212	10	.	.	PUNCT
cjal-3260	213	1	38	38	NUM
cjal-3260	214	1	i	i	PRON
cjal-3260	214	2	d.	d.	PROPN
cjal-3260	214	3	at	at	ADP
cjal-3260	214	4	875	875	NUM
cjal-3260	214	5	.	.	PROPN
cjal-3260	214	6	2007	2007	NUM
cjal-3260	214	7	)	)	PUNCT
cjal-3260	214	8	columbia	columbia	PROPN
cjal-3260	214	9	journal	journal	PROPN
cjal-3260	214	10	ofasianlaw	ofasianlaw	NOUN
cjal-3260	214	11	years	year	NOUN
cjal-3260	214	12	for	for	SCONJ
cjal-3260	214	13	a	a	DET
cjal-3260	214	14	hostile	hostile	ADJ
cjal-3260	214	15	acquirer	acquirer	NOUN
cjal-3260	214	16	to	to	PART
cjal-3260	214	17	achieve	achieve	VERB
cjal-3260	214	18	majority	majority	NOUN
cjal-3260	214	19	control	control	NOUN
cjal-3260	214	20	of	of	ADP
cjal-3260	214	21	the	the	DET
cjal-3260	214	22	board	board	NOUN
cjal-3260	214	23	is	be	AUX
cjal-3260	214	24	the	the	DET
cjal-3260	214	25	primary	primary	ADJ
cjal-3260	214	26	structure	structure	NOUN
cjal-3260	214	27	for	for	ADP
cjal-3260	214	28	achieving	achieve	VERB
cjal-3260	214	29	this	this	PRON
cjal-3260	214	30	.	.	PUNCT
cjal-3260	215	1	additionally	additionally	ADV
cjal-3260	215	2	,	,	PUNCT
cjal-3260	215	3	for	for	SCONJ
cjal-3260	215	4	the	the	DET
cjal-3260	215	5	staggered	staggered	ADJ
cjal-3260	215	6	board	board	NOUN
cjal-3260	215	7	to	to	PART
cjal-3260	215	8	be	be	AUX
cjal-3260	215	9	an	an	DET
cjal-3260	215	10	effective	effective	ADJ
cjal-3260	215	11	defense	defense	NOUN
cjal-3260	215	12	,	,	PUNCT
cjal-3260	215	13	the	the	DET
cjal-3260	215	14	structure	structure	NOUN
cjal-3260	215	15	usually	usually	ADV
cjal-3260	215	16	includes	include	VERB
cjal-3260	215	17	the	the	DET
cjal-3260	215	18	following	follow	VERB
cjal-3260	215	19	:	:	PUNCT
cjal-3260	215	20	*	*	PUNCT
cjal-3260	215	21	a	a	DET
cjal-3260	215	22	prohibition	prohibition	NOUN
cjal-3260	215	23	of	of	ADP
cjal-3260	215	24	removal	removal	NOUN
cjal-3260	215	25	of	of	ADP
cjal-3260	215	26	directors	director	NOUN
cjal-3260	215	27	without	without	ADP
cjal-3260	215	28	cause	cause	NOUN
cjal-3260	215	29	;	;	PUNCT
cjal-3260	215	30	*	*	PUNCT
cjal-3260	215	31	the	the	DET
cjal-3260	215	32	reservation	reservation	NOUN
cjal-3260	215	33	to	to	ADP
cjal-3260	215	34	the	the	DET
cjal-3260	215	35	board	board	NOUN
cjal-3260	215	36	of	of	ADP
cjal-3260	215	37	sole	sole	ADJ
cjal-3260	215	38	authority	authority	NOUN
cjal-3260	215	39	to	to	PART
cjal-3260	215	40	decide	decide	VERB
cjal-3260	215	41	the	the	DET
cjal-3260	215	42	number	number	NOUN
cjal-3260	215	43	of	of	ADP
cjal-3260	215	44	directors	director	NOUN
cjal-3260	215	45	the	the	DET
cjal-3260	215	46	board	board	NOUN
cjal-3260	215	47	will	will	AUX
cjal-3260	215	48	have	have	VERB
cjal-3260	215	49	;	;	PUNCT
cjal-3260	215	50	*	*	PUNCT
cjal-3260	215	51	the	the	DET
cjal-3260	215	52	power	power	NOUN
cjal-3260	215	53	to	to	PART
cjal-3260	215	54	fill	fill	VERB
cjal-3260	215	55	any	any	DET
cjal-3260	215	56	vacancies	vacancy	NOUN
cjal-3260	215	57	due	due	ADP
cjal-3260	215	58	to	to	ADP
cjal-3260	215	59	resignations	resignation	NOUN
cjal-3260	215	60	or	or	CCONJ
cjal-3260	215	61	increase	increase	VERB
cjal-3260	215	62	in	in	ADP
cjal-3260	215	63	the	the	DET
cjal-3260	215	64	number	number	NOUN
cjal-3260	215	65	of	of	ADP
cjal-3260	215	66	directors	director	NOUN
cjal-3260	215	67	;	;	PUNCT
cjal-3260	215	68	and	and	CCONJ
cjal-3260	215	69	"	"	PUNCT
cjal-3260	215	70	limits	limit	NOUN
cjal-3260	215	71	on	on	ADP
cjal-3260	215	72	the	the	DET
cjal-3260	215	73	circumstances	circumstance	NOUN
cjal-3260	215	74	in	in	ADP
cjal-3260	215	75	which	which	PRON
cjal-3260	215	76	special	special	ADJ
cjal-3260	215	77	meetings	meeting	NOUN
cjal-3260	215	78	can	can	AUX
cjal-3260	215	79	be	be	AUX
cjal-3260	215	80	called	call	VERB
cjal-3260	215	81	by	by	ADP
cjal-3260	215	82	shareholders.39	shareholders.39	NOUN
cjal-3260	215	83	fifty	fifty	NUM
cjal-3260	215	84	nine	nine	NUM
cjal-3260	215	85	percent	percent	NOUN
cjal-3260	215	86	of	of	ADP
cjal-3260	215	87	publicly	publicly	ADV
cjal-3260	215	88	traded	trade	VERB
cjal-3260	215	89	u.s	u.s	PROPN
cjal-3260	215	90	.	.	PROPN
cjal-3260	215	91	companies	company	NOUN
cjal-3260	215	92	had	have	VERB
cjal-3260	215	93	staggered	stagger	VERB
cjal-3260	215	94	boards	board	NOUN
cjal-3260	215	95	in	in	ADP
cjal-3260	215	96	1998.40	1998.40	NUM
cjal-3260	215	97	nominally	nominally	ADV
cjal-3260	215	98	,	,	PUNCT
cjal-3260	215	99	the	the	DET
cjal-3260	215	100	staggered	staggered	ADJ
cjal-3260	215	101	board	board	NOUN
cjal-3260	215	102	structure	structure	NOUN
cjal-3260	215	103	alone	alone	ADV
cjal-3260	215	104	merely	merely	ADV
cjal-3260	215	105	delays	delay	VERB
cjal-3260	215	106	the	the	DET
cjal-3260	215	107	transfer	transfer	NOUN
cjal-3260	215	108	of	of	ADP
cjal-3260	215	109	control	control	NOUN
cjal-3260	215	110	.	.	PUNCT
cjal-3260	216	1	in	in	ADP
cjal-3260	216	2	operation	operation	NOUN
cjal-3260	216	3	,	,	PUNCT
cjal-3260	216	4	however	however	ADV
cjal-3260	216	5	,	,	PUNCT
cjal-3260	216	6	staggered	staggered	ADJ
cjal-3260	216	7	boards	board	NOUN
cjal-3260	216	8	do	do	VERB
cjal-3260	216	9	more	more	ADV
cjal-3260	216	10	than	than	SCONJ
cjal-3260	216	11	merely	merely	ADV
cjal-3260	216	12	delay	delay	VERB
cjal-3260	216	13	a	a	DET
cjal-3260	216	14	takeover	takeover	NOUN
cjal-3260	216	15	rather	rather	ADV
cjal-3260	216	16	,	,	PUNCT
cjal-3260	216	17	they	they	PRON
cjal-3260	216	18	"	"	PUNCT
cjal-3260	216	19	make	make	VERB
cjal-3260	216	20	it	it	PRON
cjal-3260	216	21	extremely	extremely	ADV
cjal-3260	216	22	difficult	difficult	ADJ
cjal-3260	216	23	for	for	SCONJ
cjal-3260	216	24	a	a	DET
cjal-3260	216	25	hostile	hostile	ADJ
cjal-3260	216	26	bidder	bidder	NOUN
cjal-3260	216	27	to	to	PART
cjal-3260	216	28	gain	gain	VERB
cjal-3260	216	29	control	control	NOUN
cjal-3260	216	30	over	over	ADP
cjal-3260	216	31	the	the	DET
cjal-3260	216	32	incumbents	incumbent	NOUN
cjal-3260	216	33	'	'	PART
cjal-3260	216	34	objections	objection	NOUN
cjal-3260	216	35	.	.	PUNCT
cjal-3260	217	1	,	,	PUNCT
cjal-3260	217	2	'	'	PUNCT
cjal-3260	217	3	4	4	NUM
cjal-3260	217	4	'	'	PUNCT
cjal-3260	217	5	further	far	ADV
cjal-3260	217	6	,	,	PUNCT
cjal-3260	217	7	staggered	staggered	ADJ
cjal-3260	217	8	boards	board	NOUN
cjal-3260	217	9	are	be	AUX
cjal-3260	217	10	such	such	ADJ
cjal-3260	217	11	effective	effective	ADJ
cjal-3260	217	12	defenses	defense	NOUN
cjal-3260	217	13	that	that	PRON
cjal-3260	217	14	they	they	PRON
cjal-3260	217	15	reduce	reduce	VERB
cjal-3260	217	16	returns	return	NOUN
cjal-3260	217	17	to	to	PART
cjal-3260	217	18	target	target	VERB
cjal-3260	217	19	company	company	NOUN
cjal-3260	217	20	shareholders.42	shareholders.42	NOUN
cjal-3260	217	21	the	the	DET
cjal-3260	217	22	bebchuk	bebchuk	NOUN
cjal-3260	217	23	team	team	NOUN
cjal-3260	217	24	concluded	conclude	VERB
cjal-3260	217	25	that	that	SCONJ
cjal-3260	217	26	the	the	DET
cjal-3260	217	27	temptation	temptation	NOUN
cjal-3260	217	28	for	for	ADP
cjal-3260	217	29	board	board	NOUN
cjal-3260	217	30	members	member	NOUN
cjal-3260	217	31	to	to	PART
cjal-3260	217	32	act	act	VERB
cjal-3260	217	33	in	in	ADP
cjal-3260	217	34	their	their	PRON
cjal-3260	217	35	own	own	ADJ
cjal-3260	217	36	self	self	NOUN
cjal-3260	217	37	interest	interest	NOUN
cjal-3260	217	38	was	be	AUX
cjal-3260	217	39	not	not	PART
cjal-3260	217	40	eliminated	eliminate	VERB
cjal-3260	217	41	by	by	ADP
cjal-3260	217	42	the	the	DET
cjal-3260	217	43	presence	presence	NOUN
cjal-3260	217	44	of	of	ADP
cjal-3260	217	45	independent	independent	ADJ
cjal-3260	217	46	directors	director	NOUN
cjal-3260	217	47	on	on	ADP
cjal-3260	217	48	the	the	DET
cjal-3260	217	49	board	board	NOUN
cjal-3260	217	50	.	.	PUNCT
cjal-3260	218	1	43	43	NUM
cjal-3260	219	1	moreover	moreover	ADV
cjal-3260	219	2	,	,	PUNCT
cjal-3260	219	3	they	they	PRON
cjal-3260	219	4	found	find	VERB
cjal-3260	219	5	that	that	SCONJ
cjal-3260	219	6	staggered	staggered	ADJ
cjal-3260	219	7	boards	board	NOUN
cjal-3260	219	8	do	do	AUX
cjal-3260	219	9	not	not	PART
cjal-3260	219	10	benefit	benefit	VERB
cjal-3260	219	11	shareholders	shareholder	NOUN
cjal-3260	219	12	by	by	ADP
cjal-3260	219	13	negotiating	negotiate	VERB
cjal-3260	219	14	more	more	ADV
cjal-3260	219	15	favorable	favorable	ADJ
cjal-3260	219	16	premiums	premium	NOUN
cjal-3260	219	17	in	in	ADP
cjal-3260	219	18	circumstances	circumstance	NOUN
cjal-3260	219	19	of	of	ADP
cjal-3260	219	20	hostile	hostile	ADJ
cjal-3260	219	21	bids,44	bids,44	NOUN
cjal-3260	219	22	giving	give	VERB
cjal-3260	219	23	the	the	DET
cjal-3260	219	24	lie	lie	NOUN
cjal-3260	219	25	to	to	ADP
cjal-3260	219	26	conventional	conventional	ADJ
cjal-3260	219	27	wisdom	wisdom	NOUN
cjal-3260	219	28	often	often	ADV
cjal-3260	219	29	offered	offer	VERB
cjal-3260	219	30	in	in	ADP
cjal-3260	219	31	support	support	NOUN
cjal-3260	219	32	of	of	ADP
cjal-3260	219	33	defensive	defensive	ADJ
cjal-3260	219	34	tactics	tactic	NOUN
cjal-3260	219	35	generally	generally	ADV
cjal-3260	219	36	.	.	PUNCT
cjal-3260	220	1	finally	finally	ADV
cjal-3260	220	2	,	,	PUNCT
cjal-3260	220	3	bebchuk	bebchuk	NOUN
cjal-3260	220	4	dispels	dispel	VERB
cjal-3260	220	5	the	the	DET
cjal-3260	220	6	myth	myth	NOUN
cjal-3260	220	7	of	of	ADP
cjal-3260	220	8	the	the	DET
cjal-3260	220	9	essential	essential	ADJ
cjal-3260	220	10	ability	ability	NOUN
cjal-3260	220	11	of	of	ADP
cjal-3260	220	12	shareholders	shareholder	NOUN
cjal-3260	220	13	to	to	PART
cjal-3260	220	14	oust	oust	VERB
cjal-3260	220	15	directors	director	NOUN
cjal-3260	220	16	by	by	ADP
cjal-3260	220	17	whom	whom	PRON
cjal-3260	220	18	they	they	PRON
cjal-3260	220	19	are	be	AUX
cjal-3260	220	20	poorly	poorly	ADV
cjal-3260	220	21	served.45	served.45	VERB
cjal-3260	220	22	this	this	PRON
cjal-3260	220	23	is	be	AUX
cjal-3260	220	24	a	a	DET
cjal-3260	220	25	serious	serious	ADJ
cjal-3260	220	26	problem	problem	NOUN
cjal-3260	220	27	for	for	ADP
cjal-3260	220	28	the	the	DET
cjal-3260	220	29	takeover	takeover	NOUN
cjal-3260	220	30	regime	regime	NOUN
cjal-3260	220	31	as	as	SCONJ
cjal-3260	220	32	developed	develop	VERB
cjal-3260	220	33	in	in	ADP
cjal-3260	220	34	the	the	DET
cjal-3260	220	35	american	american	ADJ
cjal-3260	220	36	system	system	NOUN
cjal-3260	220	37	,	,	PUNCT
cjal-3260	220	38	because	because	SCONJ
cjal-3260	220	39	the	the	DET
cjal-3260	220	40	delaware	delaware	PROPN
cjal-3260	220	41	courts	court	NOUN
cjal-3260	220	42	'	'	PART
cjal-3260	220	43	permission	permission	NOUN
cjal-3260	220	44	of	of	ADP
cjal-3260	220	45	defensive	defensive	ADJ
cjal-3260	220	46	measures	measure	NOUN
cjal-3260	220	47	to	to	PART
cjal-3260	220	48	block	block	VERB
cjal-3260	220	49	hostile	hostile	ADJ
cjal-3260	220	50	bids	bid	NOUN
cjal-3260	220	51	has	have	AUX
cjal-3260	220	52	been	be	AUX
cjal-3260	220	53	predicated	predicate	VERB
cjal-3260	220	54	on	on	ADP
cjal-3260	220	55	the	the	DET
cjal-3260	220	56	assumption	assumption	NOUN
cjal-3260	220	57	that	that	SCONJ
cjal-3260	220	58	39	39	NUM
cjal-3260	220	59	see	see	VERB
cjal-3260	220	60	gilson	gilson	PROPN
cjal-3260	220	61	&	&	CCONJ
cjal-3260	220	62	black	black	PROPN
cjal-3260	220	63	,	,	PUNCT
cjal-3260	220	64	supra	supra	PROPN
cjal-3260	220	65	note	note	NOUN
cjal-3260	220	66	35	35	NUM
cjal-3260	220	67	,	,	PUNCT
cjal-3260	220	68	at	at	ADP
cjal-3260	220	69	736	736	NUM
cjal-3260	220	70	-	-	SYM
cjal-3260	220	71	37	37	NUM
cjal-3260	220	72	.	.	PUNCT
cjal-3260	221	1	40	40	NUM
cjal-3260	221	2	lucian	lucian	PROPN
cjal-3260	221	3	a.	a.	NOUN
cjal-3260	221	4	bebchuk	bebchuk	PROPN
cjal-3260	221	5	,	,	PUNCT
cjal-3260	221	6	john	john	PROPN
cjal-3260	221	7	c.	c.	PROPN
cjal-3260	221	8	coates	coat	VERB
cjal-3260	221	9	iv	iv	PROPN
cjal-3260	221	10	&	&	CCONJ
cjal-3260	221	11	guhan	guhan	PROPN
cjal-3260	221	12	subramanian	subramanian	PROPN
cjal-3260	221	13	,	,	PUNCT
cjal-3260	221	14	the	the	DET
cjal-3260	221	15	powerful	powerful	ADJ
cjal-3260	221	16	antitakeover	antitakeover	ADJ
cjal-3260	221	17	force	force	NOUN
cjal-3260	221	18	of	of	ADP
cjal-3260	221	19	staggered	staggered	ADJ
cjal-3260	221	20	boards	board	NOUN
cjal-3260	221	21	:	:	PUNCT
cjal-3260	221	22	further	further	ADJ
cjal-3260	221	23	findings	finding	NOUN
cjal-3260	221	24	and	and	CCONJ
cjal-3260	221	25	a	a	DET
cjal-3260	221	26	reply	reply	NOUN
cjal-3260	221	27	to	to	ADP
cjal-3260	221	28	symposium	symposium	NOUN
cjal-3260	221	29	participants	participant	NOUN
cjal-3260	221	30	,	,	PUNCT
cjal-3260	221	31	55	55	NUM
cjal-3260	221	32	stan	stan	NOUN
cjal-3260	221	33	.	.	PUNCT
cjal-3260	222	1	l.	l.	PROPN
cjal-3260	222	2	rev	rev	PROPN
cjal-3260	222	3	.	.	PROPN
cjal-3260	222	4	887	887	NUM
cjal-3260	222	5	,	,	PUNCT
cjal-3260	222	6	889	889	NUM
cjal-3260	222	7	(	(	PUNCT
cjal-3260	222	8	2002	2002	NUM
cjal-3260	222	9	)	)	PUNCT
cjal-3260	222	10	.	.	PUNCT
cjal-3260	223	1	41	41	NUM
cjal-3260	223	2	bebchuk	bebchuk	NOUN
cjal-3260	223	3	et	et	PROPN
cjal-3260	223	4	al	al	PROPN
cjal-3260	223	5	.	.	PROPN
cjal-3260	223	6	,	,	PUNCT
cjal-3260	223	7	supra	supra	PROPN
cjal-3260	223	8	note	note	PROPN
cjal-3260	223	9	7	7	NUM
cjal-3260	223	10	,	,	PUNCT
cjal-3260	223	11	at	at	ADP
cjal-3260	223	12	890	890	NUM
cjal-3260	223	13	.	.	X
cjal-3260	224	1	42	42	NUM
cjal-3260	225	1	i	i	PRON
cjal-3260	225	2	d.	d.	PROPN
cjal-3260	225	3	43	43	NUM
cjal-3260	225	4	bebchuk	bebchuk	PROPN
cjal-3260	225	5	et	et	PROPN
cjal-3260	225	6	al	al	PROPN
cjal-3260	225	7	.	.	PROPN
cjal-3260	225	8	,	,	PUNCT
cjal-3260	225	9	supra	supra	PROPN
cjal-3260	225	10	note	note	PROPN
cjal-3260	225	11	40	40	NUM
cjal-3260	225	12	,	,	PUNCT
cjal-3260	225	13	at	at	ADP
cjal-3260	225	14	898	898	NUM
cjal-3260	225	15	44id	44id	NOUN
cjal-3260	225	16	.	.	PUNCT
cjal-3260	226	1	at	at	ADP
cjal-3260	226	2	891	891	NUM
cjal-3260	226	3	.	.	PUNCT
cjal-3260	227	1	45	45	NUM
cjal-3260	227	2	bebchuk	bebchuk	NOUN
cjal-3260	227	3	,	,	PUNCT
cjal-3260	227	4	supra	supra	PROPN
cjal-3260	227	5	note	note	NOUN
cjal-3260	227	6	3	3	NUM
cjal-3260	227	7	.	.	PUNCT
cjal-3260	228	1	[	[	X
cjal-3260	228	2	20:2	20:2	NUM
cjal-3260	228	3	national	national	ADJ
cjal-3260	228	4	markets	market	NOUN
cjal-3260	228	5	,	,	PUNCT
cjal-3260	228	6	new	new	ADJ
cjal-3260	228	7	defenses	defense	NOUN
cjal-3260	228	8	shareholders	shareholder	NOUN
cjal-3260	228	9	have	have	VERB
cjal-3260	228	10	the	the	DET
cjal-3260	228	11	power	power	NOUN
cjal-3260	228	12	to	to	PART
cjal-3260	228	13	replace	replace	VERB
cjal-3260	228	14	an	an	DET
cjal-3260	228	15	entrenched	entrenched	ADJ
cjal-3260	228	16	board	board	NOUN
cjal-3260	228	17	that	that	PRON
cjal-3260	228	18	refuses	refuse	VERB
cjal-3260	228	19	to	to	PART
cjal-3260	228	20	sell	sell	VERB
cjal-3260	228	21	to	to	ADP
cjal-3260	228	22	the	the	DET
cjal-3260	228	23	company	company	NOUN
cjal-3260	228	24	's	's	PART
cjal-3260	228	25	and	and	CCONJ
cjal-3260	228	26	shareholders	shareholder	NOUN
cjal-3260	228	27	'	'	PART
cjal-3260	228	28	detriment.46	detriment.46	NOUN
cjal-3260	228	29	c.	c.	NOUN
cjal-3260	228	30	poison	poison	NOUN
cjal-3260	228	31	pills	pill	VERB
cjal-3260	228	32	the	the	DET
cjal-3260	228	33	ultimate	ultimate	ADJ
cjal-3260	228	34	weapon	weapon	NOUN
cjal-3260	228	35	is	be	AUX
cjal-3260	228	36	the	the	DET
cjal-3260	228	37	shareholder	shareholder	NOUN
cjal-3260	228	38	rights	right	NOUN
cjal-3260	228	39	plan	plan	NOUN
cjal-3260	228	40	,	,	PUNCT
cjal-3260	228	41	also	also	ADV
cjal-3260	228	42	known	know	VERB
cjal-3260	228	43	as	as	ADP
cjal-3260	228	44	the	the	DET
cjal-3260	228	45	poison	poison	NOUN
cjal-3260	228	46	pill	pill	NOUN
cjal-3260	228	47	,	,	PUNCT
cjal-3260	228	48	limited	limit	VERB
cjal-3260	228	49	only	only	ADV
cjal-3260	228	50	by	by	ADP
cjal-3260	228	51	fiduciary	fiduciary	ADJ
cjal-3260	228	52	law	law	NOUN
cjal-3260	228	53	and	and	CCONJ
cjal-3260	228	54	,	,	PUNCT
cjal-3260	228	55	recently	recently	ADV
cjal-3260	228	56	,	,	PUNCT
cjal-3260	228	57	shareholder	shareholder	NOUN
cjal-3260	228	58	revolt	revolt	NOUN
cjal-3260	228	59	.	.	PUNCT
cjal-3260	229	1	created	create	VERB
cjal-3260	229	2	by	by	ADP
cjal-3260	229	3	new	new	PROPN
cjal-3260	229	4	york	york	PROPN
cjal-3260	229	5	corporate	corporate	PROPN
cjal-3260	229	6	lawyer	lawyer	PROPN
cjal-3260	229	7	martin	martin	PROPN
cjal-3260	229	8	lipton	lipton	PROPN
cjal-3260	229	9	of	of	ADP
cjal-3260	229	10	wachtell	wachtell	PROPN
cjal-3260	229	11	,	,	PUNCT
cjal-3260	229	12	lipton	lipton	PROPN
cjal-3260	229	13	,	,	PUNCT
cjal-3260	229	14	rosen	rosen	PROPN
cjal-3260	229	15	&	&	CCONJ
cjal-3260	229	16	katz	katz	PROPN
cjal-3260	229	17	in	in	ADP
cjal-3260	229	18	1982	1982	NUM
cjal-3260	229	19	amidst	amidst	ADP
cjal-3260	229	20	a	a	DET
cjal-3260	229	21	wave	wave	NOUN
cjal-3260	229	22	of	of	ADP
cjal-3260	229	23	hostile	hostile	ADJ
cjal-3260	229	24	takeovers	takeover	NOUN
cjal-3260	229	25	in	in	ADP
cjal-3260	229	26	the	the	DET
cjal-3260	229	27	u.s	u.s	PROPN
cjal-3260	229	28	.	.	PROPN
cjal-3260	229	29	,	,	PUNCT
cjal-3260	229	30	the	the	DET
cjal-3260	229	31	pill	pill	NOUN
cjal-3260	229	32	is	be	AUX
cjal-3260	229	33	a	a	DET
cjal-3260	229	34	complete	complete	ADJ
cjal-3260	229	35	defense	defense	NOUN
cjal-3260	229	36	against	against	ADP
cjal-3260	229	37	an	an	DET
cjal-3260	229	38	unwanted	unwanted	ADJ
cjal-3260	229	39	takeover	takeover	NOUN
cjal-3260	229	40	the	the	DET
cjal-3260	229	41	nuclear	nuclear	ADJ
cjal-3260	229	42	deterrent	deterrent	NOUN
cjal-3260	229	43	in	in	ADP
cjal-3260	229	44	the	the	DET
cjal-3260	229	45	corporate	corporate	ADJ
cjal-3260	229	46	theater	theater	NOUN
cjal-3260	229	47	.	.	PUNCT
cjal-3260	230	1	its	its	PRON
cjal-3260	230	2	invention	invention	NOUN
cjal-3260	230	3	and	and	CCONJ
cjal-3260	230	4	widespread	widespread	ADJ
cjal-3260	230	5	adoption	adoption	NOUN
cjal-3260	230	6	changed	change	VERB
cjal-3260	230	7	the	the	DET
cjal-3260	230	8	american	american	ADJ
cjal-3260	230	9	landscape	landscape	NOUN
cjal-3260	230	10	for	for	ADP
cjal-3260	230	11	corporate	corporate	ADJ
cjal-3260	230	12	control	control	NOUN
cjal-3260	230	13	.	.	PUNCT
cjal-3260	231	1	the	the	DET
cjal-3260	231	2	rights	right	NOUN
cjal-3260	231	3	plan	plan	NOUN
cjal-3260	231	4	creates	create	VERB
cjal-3260	231	5	contractual	contractual	ADJ
cjal-3260	231	6	rights	right	NOUN
cjal-3260	231	7	that	that	PRON
cjal-3260	231	8	attach	attach	VERB
cjal-3260	231	9	to	to	ADP
cjal-3260	231	10	each	each	DET
cjal-3260	231	11	share	share	NOUN
cjal-3260	231	12	of	of	ADP
cjal-3260	231	13	company	company	NOUN
cjal-3260	231	14	stock	stock	NOUN
cjal-3260	231	15	with	with	ADP
cjal-3260	231	16	the	the	DET
cjal-3260	231	17	effect	effect	NOUN
cjal-3260	231	18	of	of	ADP
cjal-3260	231	19	massively	massively	ADV
cjal-3260	231	20	diluting	dilute	VERB
cjal-3260	231	21	a	a	DET
cjal-3260	231	22	would	would	AUX
cjal-3260	231	23	-	-	PUNCT
cjal-3260	231	24	be	be	AUX
cjal-3260	231	25	hostile	hostile	ADJ
cjal-3260	231	26	acquirer	acquirer	NOUN
cjal-3260	231	27	,	,	PUNCT
cjal-3260	231	28	so	so	SCONJ
cjal-3260	231	29	that	that	SCONJ
cjal-3260	231	30	no	no	DET
cjal-3260	231	31	acquisition	acquisition	NOUN
cjal-3260	231	32	will	will	AUX
cjal-3260	231	33	occur	occur	VERB
cjal-3260	231	34	without	without	ADP
cjal-3260	231	35	board	board	NOUN
cjal-3260	231	36	cooperation	cooperation	NOUN
cjal-3260	231	37	to	to	PART
cjal-3260	231	38	redeem	redeem	VERB
cjal-3260	231	39	the	the	DET
cjal-3260	231	40	pill	pill	NOUN
cjal-3260	231	41	.	.	PUNCT
cjal-3260	232	1	legal	legal	ADJ
cjal-3260	232	2	and	and	CCONJ
cjal-3260	232	3	financial	financial	ADJ
cjal-3260	232	4	engineers	engineer	NOUN
cjal-3260	232	5	have	have	AUX
cjal-3260	232	6	used	use	VERB
cjal-3260	232	7	the	the	DET
cjal-3260	232	8	form	form	NOUN
cjal-3260	232	9	innovatively	innovatively	ADV
cjal-3260	232	10	,	,	PUNCT
cjal-3260	232	11	and	and	CCONJ
cjal-3260	232	12	various	various	ADJ
cjal-3260	232	13	versions	version	NOUN
cjal-3260	232	14	of	of	ADP
cjal-3260	232	15	the	the	DET
cjal-3260	232	16	pill	pill	NOUN
cjal-3260	232	17	have	have	AUX
cjal-3260	232	18	been	be	AUX
cjal-3260	232	19	tested	test	VERB
cjal-3260	232	20	in	in	ADP
cjal-3260	232	21	the	the	DET
cjal-3260	232	22	delaware	delaware	PROPN
cjal-3260	232	23	courts	court	NOUN
cjal-3260	232	24	over	over	ADP
cjal-3260	232	25	the	the	DET
cjal-3260	232	26	years	year	NOUN
cjal-3260	232	27	with	with	ADP
cjal-3260	232	28	a	a	DET
cjal-3260	232	29	resulting	result	VERB
cjal-3260	232	30	roadmap	roadmap	NOUN
cjal-3260	232	31	in	in	ADP
cjal-3260	232	32	judicial	judicial	ADJ
cjal-3260	232	33	rulings	ruling	NOUN
cjal-3260	232	34	that	that	PRON
cjal-3260	232	35	define	define	VERB
cjal-3260	232	36	,	,	PUNCT
cjal-3260	232	37	at	at	ADP
cjal-3260	232	38	least	least	ADJ
cjal-3260	232	39	in	in	ADP
cjal-3260	232	40	general	general	ADJ
cjal-3260	232	41	terms	term	NOUN
cjal-3260	232	42	,	,	PUNCT
cjal-3260	232	43	which	which	PRON
cjal-3260	232	44	pill	pill	NOUN
cjal-3260	232	45	features	feature	NOUN
cjal-3260	232	46	and	and	CCONJ
cjal-3260	232	47	in	in	ADP
cjal-3260	232	48	which	which	DET
cjal-3260	232	49	circumstances	circumstance	NOUN
cjal-3260	232	50	the	the	DET
cjal-3260	232	51	pill	pill	NOUN
cjal-3260	232	52	may	may	AUX
cjal-3260	232	53	be	be	AUX
cjal-3260	232	54	used	use	VERB
cjal-3260	232	55	to	to	PART
cjal-3260	232	56	defend	defend	VERB
cjal-3260	232	57	incumbent	incumbent	ADJ
cjal-3260	232	58	management	management	NOUN
cjal-3260	232	59	from	from	ADP
cjal-3260	232	60	an	an	DET
cjal-3260	232	61	insufficient	insufficient	ADJ
cjal-3260	232	62	buyout	buyout	NOUN
cjal-3260	232	63	offer	offer	NOUN
cjal-3260	232	64	or	or	CCONJ
cjal-3260	232	65	otherwise	otherwise	ADV
cjal-3260	232	66	unfavorable	unfavorable	ADJ
cjal-3260	232	67	terms	term	NOUN
cjal-3260	232	68	for	for	ADP
cjal-3260	232	69	shareholders.47	shareholders.47	NOUN
cjal-3260	232	70	the	the	DET
cjal-3260	232	71	policy	policy	NOUN
cjal-3260	232	72	justification	justification	NOUN
cjal-3260	232	73	for	for	ADP
cjal-3260	232	74	the	the	DET
cjal-3260	232	75	pill	pill	NOUN
cjal-3260	232	76	lies	lie	VERB
cjal-3260	232	77	in	in	ADP
cjal-3260	232	78	the	the	DET
cjal-3260	232	79	institutional	institutional	ADJ
cjal-3260	232	80	view	view	NOUN
cjal-3260	232	81	of	of	ADP
cjal-3260	232	82	the	the	DET
cjal-3260	232	83	corporate	corporate	ADJ
cjal-3260	232	84	form	form	NOUN
cjal-3260	232	85	,	,	PUNCT
cjal-3260	232	86	the	the	DET
cjal-3260	232	87	perspective	perspective	NOUN
cjal-3260	232	88	that	that	PRON
cjal-3260	232	89	prizes	prize	VERB
cjal-3260	232	90	stability	stability	NOUN
cjal-3260	232	91	and	and	CCONJ
cjal-3260	232	92	protects	protect	VERB
cjal-3260	232	93	managers	manager	NOUN
cjal-3260	232	94	from	from	ADP
cjal-3260	232	95	having	have	VERB
cjal-3260	232	96	to	to	PART
cjal-3260	232	97	fend	fend	VERB
cjal-3260	232	98	off	off	ADP
cjal-3260	232	99	hostile	hostile	ADJ
cjal-3260	232	100	investors	investor	NOUN
cjal-3260	232	101	.	.	PUNCT
cjal-3260	233	1	this	this	DET
cjal-3260	233	2	perspective	perspective	NOUN
cjal-3260	233	3	discounts	discount	VERB
cjal-3260	233	4	the	the	DET
cjal-3260	233	5	incentives	incentive	NOUN
cjal-3260	233	6	created	create	VERB
cjal-3260	233	7	by	by	ADP
cjal-3260	233	8	an	an	DET
cjal-3260	233	9	open	open	ADJ
cjal-3260	233	10	market	market	NOUN
cjal-3260	233	11	for	for	ADP
cjal-3260	233	12	corporate	corporate	ADJ
cjal-3260	233	13	control	control	NOUN
cjal-3260	233	14	.	.	PUNCT
cjal-3260	234	1	as	as	SCONJ
cjal-3260	234	2	lipton	lipton	PROPN
cjal-3260	234	3	explains	explain	VERB
cjal-3260	234	4	the	the	DET
cjal-3260	234	5	motivation	motivation	NOUN
cjal-3260	234	6	behind	behind	ADP
cjal-3260	234	7	takeover	takeover	NOUN
cjal-3260	234	8	bids	bid	NOUN
cjal-3260	234	9	in	in	ADP
cjal-3260	234	10	the	the	DET
cjal-3260	234	11	target	target	NOUN
cjal-3260	234	12	's	's	PART
cjal-3260	234	13	boardroom,48	boardroom,48	NOUN
cjal-3260	234	14	his	his	PRON
cjal-3260	234	15	influential	influential	ADJ
cjal-3260	234	16	article	article	NOUN
cjal-3260	234	17	from	from	ADP
cjal-3260	234	18	twenty	twenty	NUM
cjal-3260	234	19	five	five	NUM
cjal-3260	234	20	years	year	NOUN
cjal-3260	234	21	ago	ago	ADV
cjal-3260	234	22	,	,	PUNCT
cjal-3260	234	23	the	the	DET
cjal-3260	234	24	primary	primary	ADJ
cjal-3260	234	25	impetus	impetus	NOUN
cjal-3260	234	26	was	be	AUX
cjal-3260	234	27	his	his	PRON
cjal-3260	234	28	"	"	PUNCT
cjal-3260	234	29	concern	concern	NOUN
cjal-3260	234	30	that	that	SCONJ
cjal-3260	234	31	the	the	DET
cjal-3260	234	32	business	business	NOUN
cjal-3260	234	33	judgment	judgment	NOUN
cjal-3260	234	34	rule	rule	NOUN
cjal-3260	234	35	and	and	CCONJ
cjal-3260	234	36	the	the	DET
cjal-3260	234	37	board	board	NOUN
cjal-3260	234	38	's	's	PART
cjal-3260	234	39	fundamental	fundamental	ADJ
cjal-3260	234	40	gate	gate	NOUN
cjal-3260	234	41	-	-	PUNCT
cjal-3260	234	42	keeping	keep	VERB
cjal-3260	234	43	role	role	NOUN
cjal-3260	234	44	were	be	AUX
cjal-3260	234	45	severely	severely	ADV
cjal-3260	234	46	threatened	threaten	VERB
cjal-3260	234	47	by	by	ADP
cjal-3260	234	48	calls	call	NOUN
cjal-3260	234	49	for	for	ADP
cjal-3260	234	50	director	director	NOUN
cjal-3260	234	51	passivity	passivity	NOUN
cjal-3260	234	52	in	in	ADP
cjal-3260	234	53	the	the	DET
cjal-3260	234	54	context	context	NOUN
cjal-3260	234	55	of	of	ADP
cjal-3260	234	56	hostile	hostile	ADJ
cjal-3260	234	57	takeover	takeover	NOUN
cjal-3260	234	58	attempts	attempt	NOUN
cjal-3260	234	59	.	.	PUNCT
cjal-3260	235	1	,	,	PUNCT
cjal-3260	235	2	49	49	NUM
cjal-3260	235	3	he	he	PRON
cjal-3260	235	4	judges	judge	VERB
cjal-3260	235	5	that	that	SCONJ
cjal-3260	235	6	"	"	PUNCT
cjal-3260	235	7	the	the	DET
cjal-3260	235	8	first	first	ADJ
cjal-3260	235	9	battle	battle	NOUN
cjal-3260	235	10	has	have	AUX
cjal-3260	235	11	been	be	AUX
cjal-3260	235	12	won	win	VERB
cjal-3260	235	13	'	'	PUNCT
cjal-3260	235	14	50	50	NUM
cjal-3260	235	15	for	for	ADP
cjal-3260	235	16	his	his	PRON
cjal-3260	235	17	position	position	NOUN
cjal-3260	235	18	that	that	SCONJ
cjal-3260	235	19	the	the	DET
cjal-3260	235	20	board	board	NOUN
cjal-3260	235	21	should	should	AUX
cjal-3260	235	22	have	have	AUX
cjal-3260	235	23	the	the	DET
cjal-3260	235	24	ability	ability	NOUN
cjal-3260	235	25	,	,	PUNCT
cjal-3260	235	26	via	via	ADP
cjal-3260	235	27	the	the	DET
cjal-3260	235	28	pill	pill	NOUN
cjal-3260	235	29	and	and	CCONJ
cjal-3260	235	30	other	other	ADJ
cjal-3260	235	31	means	mean	NOUN
cjal-3260	235	32	,	,	PUNCT
cjal-3260	235	33	"	"	PUNCT
cjal-3260	235	34	to	to	PART
cjal-3260	235	35	take	take	VERB
cjal-3260	235	36	unilateral	unilateral	ADJ
cjal-3260	235	37	measures	measure	NOUN
cjal-3260	235	38	that	that	PRON
cjal-3260	235	39	the	the	DET
cjal-3260	235	40	board	board	NOUN
cjal-3260	235	41	considered	consider	VERB
cjal-3260	235	42	to	to	PART
cjal-3260	235	43	be	be	AUX
cjal-3260	235	44	in	in	ADP
cjal-3260	235	45	the	the	DET
cjal-3260	235	46	best	good	ADJ
cjal-3260	235	47	interests	interest	NOUN
cjal-3260	235	48	of	of	ADP
cjal-3260	235	49	the	the	DET
cjal-3260	235	50	46	46	NUM
cjal-3260	235	51	i	i	PRON
cjal-3260	235	52	d.	d.	PROPN
cjal-3260	235	53	at	at	ADP
cjal-3260	235	54	4	4	NUM
cjal-3260	235	55	;	;	PUNCT
cjal-3260	235	56	see	see	VERB
cjal-3260	235	57	also	also	ADV
cjal-3260	235	58	unocal	unocal	PROPN
cjal-3260	235	59	corp	corp	PROPN
cjal-3260	235	60	.	.	PROPN
cjal-3260	236	1	v.	v.	PROPN
cjal-3260	236	2	mesa	mesa	PROPN
cjal-3260	236	3	petroleum	petroleum	PROPN
cjal-3260	236	4	co.	co.	PROPN
cjal-3260	236	5	,	,	PUNCT
cjal-3260	236	6	493	493	NUM
cjal-3260	236	7	a.2d	a.2d	SYM
cjal-3260	236	8	946	946	NUM
cjal-3260	236	9	(	(	PUNCT
cjal-3260	236	10	del	del	PROPN
cjal-3260	236	11	.	.	PROPN
cjal-3260	236	12	1985	1985	NUM
cjal-3260	236	13	)	)	PUNCT
cjal-3260	236	14	.	.	PUNCT
cjal-3260	237	1	47	47	NUM
cjal-3260	237	2	for	for	ADP
cjal-3260	237	3	a	a	DET
cjal-3260	237	4	detailed	detailed	ADJ
cjal-3260	237	5	discussion	discussion	NOUN
cjal-3260	237	6	of	of	ADP
cjal-3260	237	7	the	the	DET
cjal-3260	237	8	delaware	delaware	PROPN
cjal-3260	237	9	case	case	NOUN
cjal-3260	237	10	law	law	NOUN
cjal-3260	237	11	and	and	CCONJ
cjal-3260	237	12	the	the	DET
cjal-3260	237	13	experience	experience	NOUN
cjal-3260	237	14	of	of	ADP
cjal-3260	237	15	american	american	ADJ
cjal-3260	237	16	companies	company	NOUN
cjal-3260	237	17	under	under	ADP
cjal-3260	237	18	the	the	DET
cjal-3260	237	19	pill	pill	NOUN
cjal-3260	237	20	,	,	PUNCT
cjal-3260	237	21	see	see	VERB
cjal-3260	237	22	lipton	lipton	PROPN
cjal-3260	237	23	,	,	PUNCT
cjal-3260	237	24	supra	supra	PROPN
cjal-3260	237	25	note	note	NOUN
cjal-3260	237	26	4	4	NUM
cjal-3260	237	27	,	,	PUNCT
cjal-3260	237	28	and	and	CCONJ
cjal-3260	237	29	the	the	DET
cjal-3260	237	30	accompanying	accompany	VERB
cjal-3260	237	31	reviews	review	NOUN
cjal-3260	237	32	from	from	ADP
cjal-3260	237	33	the	the	DET
cjal-3260	237	34	american	american	PROPN
cjal-3260	237	35	bar	bar	PROPN
cjal-3260	237	36	association	association	NOUN
cjal-3260	237	37	's	's	PART
cjal-3260	237	38	"	"	PUNCT
cjal-3260	237	39	symposium	symposium	NOUN
cjal-3260	237	40	on	on	ADP
cjal-3260	237	41	takeover	takeover	NOUN
cjal-3260	237	42	bids	bid	NOUN
cjal-3260	237	43	in	in	ADP
cjal-3260	237	44	the	the	DET
cjal-3260	237	45	boardroom	boardroom	NOUN
cjal-3260	237	46	:	:	PUNCT
cjal-3260	237	47	25	25	NUM
cjal-3260	237	48	years	year	NOUN
cjal-3260	237	49	later	later	ADV
cjal-3260	237	50	.	.	PUNCT
cjal-3260	237	51	"	"	PUNCT
cjal-3260	238	1	60	60	NUM
cjal-3260	238	2	bus	bus	NOUN
cjal-3260	238	3	.	.	PUNCT
cjal-3260	238	4	law	law	NOUN
cjal-3260	238	5	.	.	PUNCT
cjal-3260	239	1	1383	1383	NUM
cjal-3260	239	2	-	-	SYM
cjal-3260	239	3	1467	1467	NUM
cjal-3260	239	4	(	(	PUNCT
cjal-3260	239	5	2005	2005	NUM
cjal-3260	239	6	)	)	PUNCT
cjal-3260	239	7	.	.	PUNCT
cjal-3260	240	1	48	48	NUM
cjal-3260	240	2	martin	martin	PROPN
cjal-3260	240	3	lipton	lipton	PROPN
cjal-3260	240	4	,	,	PUNCT
cjal-3260	240	5	takeover	takeover	NOUN
cjal-3260	240	6	bids	bid	NOUN
cjal-3260	240	7	in	in	ADP
cjal-3260	240	8	the	the	DET
cjal-3260	240	9	target	target	NOUN
cjal-3260	240	10	's	's	PART
cjal-3260	240	11	boardroom	boardroom	NOUN
cjal-3260	240	12	,	,	PUNCT
cjal-3260	240	13	35	35	NUM
cjal-3260	240	14	bus	bus	NOUN
cjal-3260	240	15	.	.	PUNCT
cjal-3260	240	16	law	law	NOUN
cjal-3260	240	17	.	.	PUNCT
cjal-3260	241	1	101	101	NUM
cjal-3260	241	2	(	(	PUNCT
cjal-3260	241	3	1979	1979	NUM
cjal-3260	241	4	)	)	PUNCT
cjal-3260	241	5	.	.	PUNCT
cjal-3260	242	1	49	49	NUM
cjal-3260	242	2	lipton	lipton	PROPN
cjal-3260	242	3	,	,	PUNCT
cjal-3260	242	4	supra	supra	PROPN
cjal-3260	242	5	note	note	NOUN
cjal-3260	242	6	4	4	NUM
cjal-3260	242	7	,	,	PUNCT
cjal-3260	242	8	at	at	ADP
cjal-3260	242	9	1369	1369	NUM
cjal-3260	242	10	.	.	PUNCT
cjal-3260	243	1	50	50	NUM
cjal-3260	243	2	d.	d.	NOUN
cjal-3260	243	3	at	at	ADP
cjal-3260	243	4	1374	1374	NUM
cjal-3260	243	5	.	.	PUNCT
cjal-3260	244	1	2007	2007	NUM
cjal-3260	244	2	]	]	SYM
cjal-3260	244	3	399	399	NUM
cjal-3260	244	4	columbia	columbia	PROPN
cjal-3260	244	5	journal	journal	NOUN
cjal-3260	244	6	of	of	ADP
cjal-3260	244	7	asian	asian	ADJ
cjal-3260	244	8	law	law	NOUN
cjal-3260	244	9	corporation	corporation	NOUN
cjal-3260	244	10	"	"	PUNCT
cjal-3260	244	11	51	51	NUM
cjal-3260	244	12	and	and	CCONJ
cjal-3260	244	13	play	play	VERB
cjal-3260	244	14	"	"	PUNCT
cjal-3260	244	15	an	an	DET
cjal-3260	244	16	active	active	ADJ
cjal-3260	244	17	role	role	NOUN
cjal-3260	244	18	.	.	PUNCT
cjal-3260	244	19	.	.	PUNCT
cjal-3260	245	1	.	.	PUNCT
cjal-3260	246	1	in	in	ADP
cjal-3260	246	2	the	the	DET
cjal-3260	246	3	context	context	NOUN
cjal-3260	246	4	of	of	ADP
cjal-3260	246	5	hostile	hostile	ADJ
cjal-3260	246	6	takeover	takeover	NOUN
cjal-3260	246	7	bids	bid	NOUN
cjal-3260	246	8	.	.	PUNCT
cjal-3260	246	9	"	"	PUNCT
cjal-3260	247	1	52	52	NUM
cjal-3260	247	2	the	the	DET
cjal-3260	247	3	victory	victory	NOUN
cjal-3260	247	4	came	come	VERB
cjal-3260	247	5	in	in	ADP
cjal-3260	247	6	the	the	DET
cjal-3260	247	7	delaware	delaware	PROPN
cjal-3260	247	8	courts	court	NOUN
cjal-3260	247	9	and	and	CCONJ
cjal-3260	247	10	some	some	DET
cjal-3260	247	11	state	state	NOUN
cjal-3260	247	12	statutes	statute	NOUN
cjal-3260	247	13	granting	grant	VERB
cjal-3260	247	14	company	company	NOUN
cjal-3260	247	15	boards	board	NOUN
cjal-3260	247	16	the	the	DET
cjal-3260	247	17	right	right	NOUN
cjal-3260	247	18	to	to	PART
cjal-3260	247	19	"	"	PUNCT
cjal-3260	247	20	just	just	ADV
cjal-3260	247	21	say	say	VERB
cjal-3260	247	22	no	no	INTJ
cjal-3260	247	23	"	"	PUNCT
cjal-3260	247	24	to	to	ADP
cjal-3260	247	25	a	a	DET
cjal-3260	247	26	buyout	buyout	NOUN
cjal-3260	247	27	offer	offer	NOUN
cjal-3260	247	28	,	,	PUNCT
cjal-3260	247	29	where	where	SCONJ
cjal-3260	247	30	they	they	PRON
cjal-3260	247	31	can	can	AUX
cjal-3260	247	32	do	do	VERB
cjal-3260	247	33	so	so	ADV
cjal-3260	247	34	consistent	consistent	ADJ
cjal-3260	247	35	with	with	ADP
cjal-3260	247	36	their	their	PRON
cjal-3260	247	37	fiduciary	fiduciary	ADJ
cjal-3260	247	38	duties	duty	NOUN
cjal-3260	247	39	to	to	PART
cjal-3260	247	40	shareholders.53	shareholders.53	VERB
cjal-3260	247	41	mr	mr	PROPN
cjal-3260	247	42	.	.	PROPN
cjal-3260	247	43	lipton	lipton	PROPN
cjal-3260	247	44	now	now	ADV
cjal-3260	247	45	sees	see	VERB
cjal-3260	247	46	a	a	DET
cjal-3260	247	47	second	second	ADJ
cjal-3260	247	48	front	front	NOUN
cjal-3260	247	49	emerging	emerge	VERB
cjal-3260	247	50	in	in	ADP
cjal-3260	247	51	the	the	DET
cjal-3260	247	52	same	same	ADJ
cjal-3260	247	53	battle	battle	NOUN
cjal-3260	247	54	:	:	PUNCT
cjal-3260	247	55	"	"	PUNCT
cjal-3260	247	56	some	some	DET
cjal-3260	247	57	regulators	regulator	NOUN
cjal-3260	247	58	,	,	PUNCT
cjal-3260	247	59	academics	academic	NOUN
cjal-3260	247	60	and	and	CCONJ
cjal-3260	247	61	special	special	ADJ
cjal-3260	247	62	-	-	PUNCT
cjal-3260	247	63	interest	interest	NOUN
cjal-3260	247	64	shareholders	shareholder	NOUN
cjal-3260	247	65	"	"	PUNCT
cjal-3260	247	66	54	54	NUM
cjal-3260	247	67	are	be	AUX
cjal-3260	247	68	charged	charge	VERB
cjal-3260	247	69	with	with	ADP
cjal-3260	247	70	"	"	PUNCT
cjal-3260	247	71	demoniz[ing	demoniz[e	VERB
cjal-3260	247	72	]	]	PUNCT
cjal-3260	247	73	the	the	DET
cjal-3260	247	74	american	american	PROPN
cjal-3260	247	75	corporation	corporation	PROPN
cjal-3260	247	76	"	"	PUNCT
cjal-3260	247	77	and	and	CCONJ
cjal-3260	247	78	"	"	PUNCT
cjal-3260	247	79	mounting	mount	VERB
cjal-3260	247	80	a	a	DET
cjal-3260	247	81	more	more	ADV
cjal-3260	247	82	trenchant	trenchant	ADJ
cjal-3260	247	83	,	,	PUNCT
cjal-3260	247	84	multi	multi	ADJ
cjal-3260	247	85	-	-	ADJ
cjal-3260	247	86	level	level	ADJ
cjal-3260	247	87	and	and	CCONJ
cjal-3260	247	88	multi	multi	ADJ
cjal-3260	247	89	-	-	ADJ
cjal-3260	247	90	jurisdictional	jurisdictional	ADJ
cjal-3260	247	91	attack	attack	NOUN
cjal-3260	247	92	on	on	ADP
cjal-3260	247	93	the	the	DET
cjal-3260	247	94	ability	ability	NOUN
cjal-3260	247	95	of	of	ADP
cjal-3260	247	96	the	the	DET
cjal-3260	247	97	board	board	NOUN
cjal-3260	247	98	and	and	CCONJ
cjal-3260	247	99	management	management	NOUN
cjal-3260	247	100	to	to	PART
cjal-3260	247	101	manage	manage	VERB
cjal-3260	247	102	effectively	effectively	ADV
cjal-3260	247	103	the	the	DET
cjal-3260	247	104	corporation	corporation	NOUN
cjal-3260	247	105	.	.	PUNCT
cjal-3260	248	1	,	,	PUNCT
cjal-3260	248	2	55	55	NUM
cjal-3260	248	3	mr	mr	PROPN
cjal-3260	248	4	.	.	PROPN
cjal-3260	248	5	lipton	lipton	PROPN
cjal-3260	248	6	's	's	PART
cjal-3260	248	7	battle	battle	NOUN
cjal-3260	248	8	is	be	AUX
cjal-3260	248	9	with	with	ADP
cjal-3260	248	10	proponents	proponent	NOUN
cjal-3260	248	11	of	of	ADP
cjal-3260	248	12	shareholder	shareholder	NOUN
cjal-3260	248	13	empowerment	empowerment	NOUN
cjal-3260	248	14	;	;	PUNCT
cjal-3260	248	15	his	his	PRON
cjal-3260	248	16	institutional	institutional	ADJ
cjal-3260	248	17	view	view	NOUN
cjal-3260	248	18	identifies	identify	VERB
cjal-3260	248	19	the	the	DET
cjal-3260	248	20	board	board	NOUN
cjal-3260	248	21	of	of	ADP
cjal-3260	248	22	directors	director	NOUN
cjal-3260	248	23	as	as	ADP
cjal-3260	248	24	the	the	DET
cjal-3260	248	25	gatekeeper	gatekeeper	NOUN
cjal-3260	248	26	of	of	ADP
cjal-3260	248	27	significant	significant	ADJ
cjal-3260	248	28	business	business	NOUN
cjal-3260	248	29	transactions	transaction	NOUN
cjal-3260	248	30	.	.	PUNCT
cjal-3260	249	1	as	as	ADP
cjal-3260	249	2	to	to	ADP
cjal-3260	249	3	takeover	takeover	NOUN
cjal-3260	249	4	bids	bid	NOUN
cjal-3260	249	5	in	in	ADP
cjal-3260	249	6	particular	particular	ADJ
cjal-3260	249	7	,	,	PUNCT
cjal-3260	249	8	in	in	ADP
cjal-3260	249	9	mr	mr	PROPN
cjal-3260	249	10	.	.	PROPN
cjal-3260	249	11	lipton	lipton	PROPN
cjal-3260	249	12	's	's	PART
cjal-3260	249	13	experience	experience	NOUN
cjal-3260	249	14	and	and	CCONJ
cjal-3260	249	15	interpretation	interpretation	NOUN
cjal-3260	249	16	of	of	ADP
cjal-3260	249	17	the	the	DET
cjal-3260	249	18	corporation	corporation	NOUN
cjal-3260	249	19	law	law	NOUN
cjal-3260	249	20	's	's	PART
cjal-3260	249	21	grant	grant	NOUN
cjal-3260	249	22	of	of	ADP
cjal-3260	249	23	broad	broad	ADJ
cjal-3260	249	24	authority	authority	NOUN
cjal-3260	249	25	to	to	ADP
cjal-3260	249	26	the	the	DET
cjal-3260	249	27	board	board	NOUN
cjal-3260	249	28	,	,	PUNCT
cjal-3260	249	29	the	the	DET
cjal-3260	249	30	determination	determination	NOUN
cjal-3260	249	31	of	of	ADP
cjal-3260	249	32	whether	whether	SCONJ
cjal-3260	249	33	a	a	DET
cjal-3260	249	34	bid	bid	NOUN
cjal-3260	249	35	should	should	AUX
cjal-3260	249	36	be	be	AUX
cjal-3260	249	37	accepted	accept	VERB
cjal-3260	249	38	lies	lie	NOUN
cjal-3260	249	39	ultimately	ultimately	ADV
cjal-3260	249	40	with	with	ADP
cjal-3260	249	41	the	the	DET
cjal-3260	249	42	directors	director	NOUN
cjal-3260	249	43	rather	rather	ADV
cjal-3260	249	44	than	than	ADP
cjal-3260	249	45	the	the	DET
cjal-3260	249	46	shareholders	shareholder	NOUN
cjal-3260	249	47	.	.	PUNCT
cjal-3260	250	1	the	the	DET
cjal-3260	250	2	social	social	ADJ
cjal-3260	250	3	good	good	NOUN
cjal-3260	250	4	of	of	ADP
cjal-3260	250	5	corporate	corporate	ADJ
cjal-3260	250	6	continuity	continuity	NOUN
cjal-3260	250	7	justified	justify	VERB
cjal-3260	250	8	the	the	DET
cjal-3260	250	9	board	board	NOUN
cjal-3260	250	10	's	's	PART
cjal-3260	250	11	ability	ability	NOUN
cjal-3260	250	12	to	to	PART
cjal-3260	250	13	reject	reject	VERB
cjal-3260	250	14	a	a	DET
cjal-3260	250	15	takeover	takeover	NOUN
cjal-3260	250	16	bid	bid	NOUN
cjal-3260	250	17	;	;	PUNCT
cjal-3260	250	18	long	long	ADJ
cjal-3260	250	19	-	-	PUNCT
cjal-3260	250	20	term	term	NOUN
cjal-3260	250	21	corporate	corporate	ADJ
cjal-3260	250	22	planning	planning	NOUN
cjal-3260	250	23	would	would	AUX
cjal-3260	250	24	be	be	AUX
cjal-3260	250	25	jeopardized	jeopardize	VERB
cjal-3260	250	26	if	if	SCONJ
cjal-3260	250	27	the	the	DET
cjal-3260	250	28	corporation	corporation	NOUN
cjal-3260	250	29	was	be	AUX
cjal-3260	250	30	required	require	VERB
cjal-3260	250	31	constantly	constantly	ADV
cjal-3260	250	32	to	to	PART
cjal-3260	250	33	"	"	PUNCT
cjal-3260	250	34	have	have	VERB
cjal-3260	250	35	a	a	DET
cjal-3260	250	36	for	for	ADP
cjal-3260	250	37	sale	sale	NOUN
cjal-3260	250	38	sign	sign	NOUN
cjal-3260	250	39	on	on	ADP
cjal-3260	250	40	the	the	DET
cjal-3260	250	41	lawn	lawn	NOUN
cjal-3260	250	42	.	.	PUNCT
cjal-3260	250	43	"	"	PUNCT
cjal-3260	251	1	56	56	NUM
cjal-3260	251	2	under	under	ADP
cjal-3260	251	3	this	this	DET
cjal-3260	251	4	theory	theory	NOUN
cjal-3260	251	5	,	,	PUNCT
cjal-3260	251	6	shareholders	shareholder	NOUN
cjal-3260	251	7	could	could	AUX
cjal-3260	251	8	not	not	PART
cjal-3260	251	9	be	be	AUX
cjal-3260	251	10	trusted	trust	VERB
cjal-3260	251	11	to	to	PART
cjal-3260	251	12	understand	understand	VERB
cjal-3260	251	13	or	or	CCONJ
cjal-3260	251	14	wait	wait	VERB
cjal-3260	251	15	for	for	SCONJ
cjal-3260	251	16	long	long	ADJ
cjal-3260	251	17	-	-	PUNCT
cjal-3260	251	18	term	term	NOUN
cjal-3260	251	19	goals	goal	NOUN
cjal-3260	251	20	to	to	PART
cjal-3260	251	21	be	be	AUX
cjal-3260	251	22	fulfilled	fulfil	VERB
cjal-3260	251	23	if	if	SCONJ
cjal-3260	251	24	they	they	PRON
cjal-3260	251	25	were	be	AUX
cjal-3260	251	26	offered	offer	VERB
cjal-3260	251	27	a	a	DET
cjal-3260	251	28	quick	quick	ADJ
cjal-3260	251	29	profit	profit	NOUN
cjal-3260	251	30	in	in	ADP
cjal-3260	251	31	the	the	DET
cjal-3260	251	32	form	form	NOUN
cjal-3260	251	33	of	of	ADP
cjal-3260	251	34	a	a	DET
cjal-3260	251	35	premium	premium	NOUN
cjal-3260	251	36	buyout	buyout	NOUN
cjal-3260	251	37	offer	offer	NOUN
cjal-3260	251	38	.	.	PUNCT
cjal-3260	252	1	in	in	ADP
cjal-3260	252	2	sum	sum	NOUN
cjal-3260	252	3	,	,	PUNCT
cjal-3260	252	4	the	the	DET
cjal-3260	252	5	case	case	NOUN
cjal-3260	252	6	for	for	ADP
cjal-3260	252	7	directors	director	NOUN
cjal-3260	252	8	'	'	PART
cjal-3260	252	9	use	use	NOUN
cjal-3260	252	10	of	of	ADP
cjal-3260	252	11	poison	poison	NOUN
cjal-3260	252	12	pills	pill	NOUN
cjal-3260	252	13	to	to	PART
cjal-3260	252	14	keep	keep	VERB
cjal-3260	252	15	the	the	DET
cjal-3260	252	16	company	company	NOUN
cjal-3260	252	17	off	off	ADP
cjal-3260	252	18	the	the	DET
cjal-3260	252	19	market	market	NOUN
cjal-3260	252	20	was	be	AUX
cjal-3260	252	21	based	base	VERB
cjal-3260	252	22	on	on	ADP
cjal-3260	252	23	the	the	DET
cjal-3260	252	24	logic	logic	NOUN
cjal-3260	252	25	that	that	SCONJ
cjal-3260	252	26	"	"	PUNCT
cjal-3260	252	27	the	the	DET
cjal-3260	252	28	fate	fate	NOUN
cjal-3260	252	29	of	of	ADP
cjal-3260	252	30	important	important	ADJ
cjal-3260	252	31	societal	societal	ADJ
cjal-3260	252	32	institutions	institution	NOUN
cjal-3260	252	33	"	"	PUNCT
cjal-3260	252	34	should	should	AUX
cjal-3260	252	35	not	not	PART
cjal-3260	252	36	be	be	AUX
cjal-3260	252	37	entrusted	entrust	VERB
cjal-3260	252	38	to	to	ADP
cjal-3260	252	39	"	"	PUNCT
cjal-3260	252	40	arbitrageurs	arbitrageur	NOUN
cjal-3260	252	41	,	,	PUNCT
cjal-3260	252	42	short	short	ADJ
cjal-3260	252	43	-	-	PUNCT
cjal-3260	252	44	term	term	NOUN
cjal-3260	252	45	investors	investor	NOUN
cjal-3260	252	46	and	and	CCONJ
cjal-3260	252	47	corporate	corporate	ADJ
cjal-3260	252	48	raiders	raider	NOUN
cjal-3260	252	49	"	"	PUNCT
cjal-3260	252	50	when	when	SCONJ
cjal-3260	252	51	"	"	PUNCT
cjal-3260	252	52	duly	duly	ADV
cjal-3260	252	53	elected	elect	VERB
cjal-3260	252	54	boards	board	NOUN
cjal-3260	252	55	of	of	ADP
cjal-3260	252	56	directors	director	NOUN
cjal-3260	252	57	are	be	AUX
cjal-3260	252	58	likely	likely	ADJ
cjal-3260	252	59	to	to	PART
cjal-3260	252	60	do	do	VERB
cjal-3260	252	61	a	a	DET
cjal-3260	252	62	better	well	ADJ
cjal-3260	252	63	and	and	CCONJ
cjal-3260	252	64	more	more	ADV
cjal-3260	252	65	responsible	responsible	ADJ
cjal-3260	252	66	job	job	NOUN
cjal-3260	252	67	.	.	PUNCT
cjal-3260	253	1	57	57	NUM
cjal-3260	253	2	in	in	ADP
cjal-3260	253	3	an	an	DET
cjal-3260	253	4	effort	effort	NOUN
cjal-3260	253	5	to	to	PART
cjal-3260	253	6	balance	balance	VERB
cjal-3260	253	7	correctly	correctly	ADV
cjal-3260	253	8	the	the	DET
cjal-3260	253	9	merits	merit	NOUN
cjal-3260	253	10	of	of	ADP
cjal-3260	253	11	the	the	DET
cjal-3260	253	12	institutional	institutional	ADJ
cjal-3260	253	13	view	view	NOUN
cjal-3260	253	14	with	with	ADP
cjal-3260	253	15	the	the	DET
cjal-3260	253	16	benefits	benefit	NOUN
cjal-3260	253	17	of	of	ADP
cjal-3260	253	18	the	the	DET
cjal-3260	253	19	market	market	NOUN
cjal-3260	253	20	for	for	ADP
cjal-3260	253	21	corporate	corporate	ADJ
cjal-3260	253	22	control	control	NOUN
cjal-3260	253	23	,	,	PUNCT
cjal-3260	253	24	professor	professor	NOUN
cjal-3260	253	25	gilson	gilson	NOUN
cjal-3260	253	26	provides	provide	VERB
cjal-3260	253	27	a	a	DET
cjal-3260	253	28	helpful	helpful	ADJ
cjal-3260	253	29	test	test	NOUN
cjal-3260	253	30	of	of	ADP
cjal-3260	253	31	when	when	SCONJ
cjal-3260	253	32	pills	pill	NOUN
cjal-3260	253	33	are	be	AUX
cjal-3260	253	34	properly	properly	ADV
cjal-3260	253	35	policed	police	VERB
cjal-3260	253	36	:	:	PUNCT
cjal-3260	253	37	(	(	PUNCT
cjal-3260	253	38	i	i	NOUN
cjal-3260	253	39	)	)	PUNCT
cjal-3260	253	40	"	"	PUNCT
cjal-3260	253	41	defensive	defensive	ADJ
cjal-3260	253	42	tactics	tactic	NOUN
cjal-3260	253	43	motivated	motivate	VERB
cjal-3260	253	44	by	by	ADP
cjal-3260	253	45	management	management	NOUN
cjal-3260	253	46	self	self	NOUN
cjal-3260	253	47	-	-	PUNCT
cjal-3260	253	48	interest	interest	NOUN
cjal-3260	253	49	are	be	AUX
cjal-3260	253	50	never	never	ADV
cjal-3260	253	51	allowed	allow	VERB
cjal-3260	253	52	,	,	PUNCT
cjal-3260	253	53	"	"	PUNCT
cjal-3260	253	54	(	(	PUNCT
cjal-3260	253	55	ii	ii	NOUN
cjal-3260	253	56	)	)	PUNCT
cjal-3260	253	57	"	"	PUNCT
cjal-3260	253	58	defensive	defensive	ADJ
cjal-3260	253	59	tactics	tactic	NOUN
cjal-3260	253	60	motivated	motivate	VERB
cjal-3260	253	61	by	by	ADP
cjal-3260	253	62	an	an	DET
cjal-3260	253	63	effort	effort	NOUN
cjal-3260	253	64	to	to	PART
cjal-3260	253	65	secure	secure	VERB
cjal-3260	253	66	the	the	DET
cjal-3260	253	67	best	good	ADJ
cjal-3260	253	68	price	price	NOUN
cjal-3260	253	69	for	for	ADP
cjal-3260	253	70	shareholders	shareholder	NOUN
cjal-3260	253	71	are	be	AUX
cjal-3260	253	72	always	always	ADV
cjal-3260	253	73	allowed	allow	VERB
cjal-3260	253	74	,	,	PUNCT
cjal-3260	253	75	"	"	PUNCT
cjal-3260	253	76	and	and	CCONJ
cjal-3260	253	77	(	(	PUNCT
cjal-3260	253	78	iii	iii	NOUN
cjal-3260	253	79	)	)	PUNCT
cjal-3260	253	80	"	"	PUNCT
cjal-3260	253	81	defensive	defensive	ADJ
cjal-3260	253	82	tactics	tactic	NOUN
cjal-3260	253	83	motivated	motivate	VERB
cjal-3260	253	84	by	by	ADP
cjal-3260	253	85	a	a	DET
cjal-3260	253	86	timing	timing	NOUN
cjal-3260	253	87	claim	claim	NOUN
cjal-3260	253	88	are	be	AUX
cjal-3260	253	89	5	5	NUM
cjal-3260	253	90	'	'	PART
cjal-3260	253	91	lipton	lipton	PROPN
cjal-3260	253	92	,	,	PUNCT
cjal-3260	253	93	supra	supra	PROPN
cjal-3260	253	94	note	note	NOUN
cjal-3260	253	95	4	4	NUM
cjal-3260	253	96	,	,	PUNCT
cjal-3260	253	97	at	at	ADP
cjal-3260	253	98	1369	1369	NUM
cjal-3260	253	99	.	.	PUNCT
cjal-3260	254	1	52	52	NUM
cjal-3260	254	2	i	i	PRON
cjal-3260	254	3	d.	d.	NOUN
cjal-3260	254	4	at	at	ADP
cjal-3260	254	5	1369	1369	NUM
cjal-3260	254	6	.	.	PUNCT
cjal-3260	255	1	53	53	NUM
cjal-3260	255	2	i	i	PROPN
cjal-3260	255	3	d.	d.	PROPN
cjal-3260	255	4	at	at	ADP
cjal-3260	255	5	1371	1371	NUM
cjal-3260	255	6	-	-	SYM
cjal-3260	255	7	1374	1374	NUM
cjal-3260	255	8	.	.	PUNCT
cjal-3260	256	1	4id	4id	NOUN
cjal-3260	256	2	.	.	PUNCT
cjal-3260	257	1	at	at	ADP
cjal-3260	257	2	1370	1370	NUM
cjal-3260	257	3	.	.	PUNCT
cjal-3260	258	1	in	in	ADP
cjal-3260	258	2	footnote	footnote	NOUN
cjal-3260	258	3	2	2	NUM
cjal-3260	258	4	,	,	PUNCT
cjal-3260	258	5	lipton	lipton	PROPN
cjal-3260	258	6	defines	define	VERB
cjal-3260	258	7	"	"	PUNCT
cjal-3260	258	8	special	special	ADJ
cjal-3260	258	9	interest	interest	NOUN
cjal-3260	258	10	shareholders	shareholder	NOUN
cjal-3260	258	11	"	"	PUNCT
cjal-3260	258	12	as	as	ADP
cjal-3260	258	13	"	"	PUNCT
cjal-3260	258	14	public	public	ADJ
cjal-3260	258	15	employee	employee	NOUN
cjal-3260	258	16	pension	pension	NOUN
cjal-3260	258	17	funds	fund	NOUN
cjal-3260	258	18	managed	manage	VERB
cjal-3260	258	19	by	by	ADP
cjal-3260	258	20	politicians	politician	NOUN
cjal-3260	258	21	and	and	CCONJ
cjal-3260	258	22	labor	labor	PROPN
cjal-3260	258	23	union	union	NOUN
cjal-3260	258	24	pension	pension	NOUN
cjal-3260	258	25	funds	fund	NOUN
cjal-3260	258	26	,	,	PUNCT
cjal-3260	258	27	whose	whose	DET
cjal-3260	258	28	agendas	agenda	NOUN
cjal-3260	258	29	may	may	AUX
cjal-3260	258	30	be	be	AUX
cjal-3260	258	31	contrary	contrary	ADJ
cjal-3260	258	32	to	to	ADP
cjal-3260	258	33	the	the	DET
cjal-3260	258	34	interests	interest	NOUN
cjal-3260	258	35	of	of	ADP
cjal-3260	258	36	the	the	DET
cjal-3260	258	37	company	company	NOUN
cjal-3260	258	38	or	or	CCONJ
cjal-3260	258	39	its	its	PRON
cjal-3260	258	40	shareholders	shareholder	NOUN
cjal-3260	258	41	.	.	PUNCT
cjal-3260	258	42	"	"	PUNCT
cjal-3260	259	1	55	55	NUM
cjal-3260	259	2	1d	1d	NUM
cjal-3260	259	3	.	.	PUNCT
cjal-3260	260	1	at	at	ADP
cjal-3260	260	2	1369	1369	NUM
cjal-3260	260	3	-	-	SYM
cjal-3260	260	4	1370	1370	NUM
cjal-3260	260	5	.	.	PUNCT
cjal-3260	261	1	56	56	NUM
cjal-3260	261	2	lipton	lipton	PROPN
cjal-3260	261	3	,	,	PUNCT
cjal-3260	261	4	supra	supra	PROPN
cjal-3260	261	5	note	note	NOUN
cjal-3260	261	6	48	48	NUM
cjal-3260	261	7	,	,	PUNCT
cjal-3260	261	8	at	at	ADP
cjal-3260	261	9	112	112	NUM
cjal-3260	261	10	.	.	PUNCT
cjal-3260	261	11	57	57	NUM
cjal-3260	261	12	lipton	lipton	PROPN
cjal-3260	261	13	,	,	PUNCT
cjal-3260	261	14	supra	supra	PROPN
cjal-3260	261	15	note	note	NOUN
cjal-3260	261	16	4	4	NUM
cjal-3260	261	17	,	,	PUNCT
cjal-3260	261	18	at	at	ADP
cjal-3260	261	19	1392	1392	NUM
cjal-3260	261	20	.	.	PUNCT
cjal-3260	262	1	[	[	X
cjal-3260	262	2	20:2	20:2	NUM
cjal-3260	262	3	national	national	ADJ
cjal-3260	262	4	markets	market	NOUN
cjal-3260	262	5	,	,	PUNCT
cjal-3260	262	6	new	new	ADJ
cjal-3260	262	7	defenses	defense	NOUN
cjal-3260	262	8	carefully	carefully	ADV
cjal-3260	262	9	evaluated	evaluate	VERB
cjal-3260	262	10	to	to	PART
cjal-3260	262	11	prevent	prevent	VERB
cjal-3260	262	12	claims	claim	NOUN
cjal-3260	262	13	of	of	ADP
cjal-3260	262	14	timing	timing	NOUN
cjal-3260	262	15	from	from	ADP
cjal-3260	262	16	cloaking	cloak	VERB
cjal-3260	262	17	selfinterested	selfintereste	VERB
cjal-3260	262	18	behavior	behavior	NOUN
cjal-3260	262	19	.	.	PUNCT
cjal-3260	263	1	,	,	PUNCT
cjal-3260	263	2	58	58	NUM
cjal-3260	263	3	looking	look	VERB
cjal-3260	263	4	back	back	ADV
cjal-3260	263	5	on	on	ADP
cjal-3260	263	6	the	the	DET
cjal-3260	263	7	era	era	NOUN
cjal-3260	263	8	in	in	ADP
cjal-3260	263	9	which	which	PRON
cjal-3260	263	10	the	the	DET
cjal-3260	263	11	poison	poison	NOUN
cjal-3260	263	12	pill	pill	NOUN
cjal-3260	263	13	was	be	AUX
cjal-3260	263	14	invented	invent	VERB
cjal-3260	263	15	and	and	CCONJ
cjal-3260	263	16	refined	refine	VERB
cjal-3260	263	17	,	,	PUNCT
cjal-3260	263	18	professors	professor	NOUN
cjal-3260	263	19	gilson	gilson	PROPN
cjal-3260	263	20	and	and	CCONJ
cjal-3260	263	21	kraakman	kraakman	PROPN
cjal-3260	263	22	observe	observe	VERB
cjal-3260	263	23	that	that	SCONJ
cjal-3260	263	24	the	the	DET
cjal-3260	263	25	1980s	1980s	NUM
cjal-3260	263	26	american	american	ADJ
cjal-3260	263	27	experiment	experiment	NOUN
cjal-3260	263	28	with	with	ADP
cjal-3260	263	29	schumpeterian	schumpeterian	ADJ
cjal-3260	263	30	capitalism	capitalism	NOUN
cjal-3260	263	31	in	in	ADP
cjal-3260	263	32	the	the	DET
cjal-3260	263	33	form	form	NOUN
cjal-3260	263	34	of	of	ADP
cjal-3260	263	35	junkbond	junkbond	NOUN
cjal-3260	263	36	-	-	PUNCT
cjal-3260	263	37	financed	finance	VERB
cjal-3260	263	38	corporate	corporate	ADJ
cjal-3260	263	39	raiders	raider	NOUN
cjal-3260	263	40	'	'	PART
cjal-3260	263	41	leveraged	leveraged	ADJ
cjal-3260	263	42	buyouts	buyout	NOUN
cjal-3260	263	43	was	be	AUX
cjal-3260	263	44	short	short	ADV
cjal-3260	263	45	-	-	PUNCT
cjal-3260	263	46	lived	live	VERB
cjal-3260	263	47	and	and	CCONJ
cjal-3260	263	48	is	be	AUX
cjal-3260	263	49	no	no	PRON
cjal-3260	263	50	more	more	ADJ
cjal-3260	263	51	,	,	PUNCT
cjal-3260	263	52	given	give	VERB
cjal-3260	263	53	the	the	DET
cjal-3260	263	54	powerful	powerful	ADJ
cjal-3260	263	55	insulation	insulation	NOUN
cjal-3260	263	56	now	now	ADV
cjal-3260	263	57	in	in	ADP
cjal-3260	263	58	place	place	NOUN
cjal-3260	263	59	at	at	ADP
cjal-3260	263	60	american	american	ADJ
cjal-3260	263	61	companies	company	NOUN
cjal-3260	263	62	.	.	PUNCT
cjal-3260	264	1	59	59	NUM
cjal-3260	264	2	this	this	DET
cjal-3260	264	3	insulation	insulation	NOUN
cjal-3260	264	4	is	be	AUX
cjal-3260	264	5	provided	provide	VERB
cjal-3260	264	6	most	most	ADV
cjal-3260	264	7	importantly	importantly	ADV
cjal-3260	264	8	by	by	ADP
cjal-3260	264	9	the	the	DET
cjal-3260	264	10	poison	poison	NOUN
cjal-3260	264	11	pill	pill	NOUN
cjal-3260	264	12	deterrent	deterrent	NOUN
cjal-3260	264	13	.	.	PUNCT
cjal-3260	265	1	"	"	PUNCT
cjal-3260	265	2	the	the	DET
cjal-3260	265	3	argument	argument	NOUN
cjal-3260	265	4	for	for	ADP
cjal-3260	265	5	companies	company	NOUN
cjal-3260	265	6	adopting	adopt	VERB
cjal-3260	265	7	and	and	CCONJ
cjal-3260	265	8	retaining	retain	VERB
cjal-3260	265	9	a	a	DET
cjal-3260	265	10	poison	poison	NOUN
cjal-3260	265	11	pill	pill	NOUN
cjal-3260	265	12	is	be	AUX
cjal-3260	265	13	that	that	SCONJ
cjal-3260	265	14	it	it	PRON
cjal-3260	265	15	protects	protect	VERB
cjal-3260	265	16	against	against	ADP
cjal-3260	265	17	a	a	DET
cjal-3260	265	18	bid	bid	NOUN
cjal-3260	265	19	the	the	DET
cjal-3260	265	20	board	board	NOUN
cjal-3260	265	21	determines	determine	NOUN
cjal-3260	265	22	is	be	AUX
cjal-3260	265	23	not	not	PART
cjal-3260	265	24	in	in	ADP
cjal-3260	265	25	the	the	DET
cjal-3260	265	26	best	good	ADJ
cjal-3260	265	27	interests	interest	NOUN
cjal-3260	265	28	of	of	ADP
cjal-3260	265	29	shareholders	shareholder	NOUN
cjal-3260	265	30	,	,	PUNCT
cjal-3260	265	31	and	and	CCONJ
cjal-3260	265	32	it	it	PRON
cjal-3260	265	33	provides	provide	VERB
cjal-3260	265	34	leverage	leverage	NOUN
cjal-3260	265	35	to	to	PART
cjal-3260	265	36	increase	increase	VERB
cjal-3260	265	37	the	the	DET
cjal-3260	265	38	premium	premium	NOUN
cjal-3260	265	39	from	from	ADP
cjal-3260	265	40	the	the	DET
cjal-3260	265	41	potential	potential	ADJ
cjal-3260	265	42	acquirer	acquirer	NOUN
cjal-3260	265	43	and	and	CCONJ
cjal-3260	265	44	time	time	NOUN
cjal-3260	265	45	to	to	PART
cjal-3260	265	46	find	find	VERB
cjal-3260	265	47	alternatives	alternative	NOUN
cjal-3260	265	48	.	.	PUNCT
cjal-3260	265	49	"	"	PUNCT
cjal-3260	266	1	60	60	NUM
cjal-3260	266	2	indeed	indeed	ADV
cjal-3260	266	3	,	,	PUNCT
cjal-3260	266	4	studies	study	NOUN
cjal-3260	266	5	have	have	AUX
cjal-3260	266	6	found	find	VERB
cjal-3260	266	7	that	that	SCONJ
cjal-3260	266	8	takeover	takeover	NOUN
cjal-3260	266	9	premiums	premium	NOUN
cjal-3260	266	10	are	be	AUX
cjal-3260	266	11	significantly	significantly	ADV
cjal-3260	266	12	higher	high	ADJ
cjal-3260	266	13	for	for	ADP
cjal-3260	266	14	companies	company	NOUN
cjal-3260	266	15	with	with	ADP
cjal-3260	266	16	poison	poison	NOUN
cjal-3260	266	17	pills	pill	NOUN
cjal-3260	266	18	and	and	CCONJ
cjal-3260	266	19	other	other	ADJ
cjal-3260	266	20	takeover	takeover	NOUN
cjal-3260	266	21	defenses	defense	NOUN
cjal-3260	266	22	.	.	PUNCT
cjal-3260	267	1	61	61	NUM
cjal-3260	267	2	while	while	SCONJ
cjal-3260	267	3	the	the	DET
cjal-3260	267	4	delaware	delaware	PROPN
cjal-3260	267	5	courts	courts	PROPN
cjal-3260	267	6	referee	referee	NOUN
cjal-3260	267	7	contested	contest	VERB
cjal-3260	267	8	cases	case	NOUN
cjal-3260	267	9	,	,	PUNCT
cjal-3260	267	10	institutional	institutional	ADJ
cjal-3260	267	11	and	and	CCONJ
cjal-3260	267	12	activist	activist	ADJ
cjal-3260	267	13	shareholders	shareholder	NOUN
cjal-3260	267	14	have	have	AUX
cjal-3260	267	15	recently	recently	ADV
cjal-3260	267	16	stepped	step	VERB
cjal-3260	267	17	up	up	ADP
cjal-3260	267	18	efforts	effort	NOUN
cjal-3260	267	19	to	to	PART
cjal-3260	267	20	pressure	pressure	VERB
cjal-3260	267	21	companies	company	NOUN
cjal-3260	267	22	to	to	PART
cjal-3260	267	23	limit	limit	VERB
cjal-3260	267	24	their	their	PRON
cjal-3260	267	25	use	use	NOUN
cjal-3260	267	26	of	of	ADP
cjal-3260	267	27	poison	poison	NOUN
cjal-3260	267	28	pills	pill	NOUN
cjal-3260	267	29	.	.	PUNCT
cjal-3260	268	1	shareholder	shareholder	NOUN
cjal-3260	268	2	activism	activism	NOUN
cjal-3260	268	3	has	have	AUX
cjal-3260	268	4	increased	increase	VERB
cjal-3260	268	5	substantially	substantially	ADV
cjal-3260	268	6	on	on	ADP
cjal-3260	268	7	poison	poison	NOUN
cjal-3260	268	8	pill	pill	NOUN
cjal-3260	268	9	-	-	PUNCT
cjal-3260	268	10	related	relate	VERB
cjal-3260	268	11	proposals	proposal	NOUN
cjal-3260	268	12	since	since	SCONJ
cjal-3260	268	13	the	the	DET
cjal-3260	268	14	largescale	largescale	ADJ
cjal-3260	268	15	corporate	corporate	ADJ
cjal-3260	268	16	fraud	fraud	NOUN
cjal-3260	268	17	and	and	CCONJ
cjal-3260	268	18	governance	governance	NOUN
cjal-3260	268	19	reform	reform	NOUN
cjal-3260	268	20	in	in	ADP
cjal-3260	268	21	the	the	DET
cjal-3260	268	22	u.s	u.s	PROPN
cjal-3260	268	23	.	.	PROPN
cjal-3260	268	24	over	over	ADP
cjal-3260	268	25	the	the	DET
cjal-3260	268	26	past	past	ADJ
cjal-3260	268	27	five	five	NUM
cjal-3260	268	28	years	year	NOUN
cjal-3260	268	29	.	.	PUNCT
cjal-3260	269	1	their	their	PRON
cjal-3260	269	2	objections	objection	NOUN
cjal-3260	269	3	begin	begin	VERB
cjal-3260	269	4	with	with	ADP
cjal-3260	269	5	the	the	DET
cjal-3260	269	6	lack	lack	NOUN
cjal-3260	269	7	of	of	ADP
cjal-3260	269	8	shareholder	shareholder	NOUN
cjal-3260	269	9	approval	approval	NOUN
cjal-3260	269	10	for	for	ADP
cjal-3260	269	11	the	the	DET
cjal-3260	269	12	adoption	adoption	NOUN
cjal-3260	269	13	of	of	ADP
cjal-3260	269	14	poison	poison	NOUN
cjal-3260	269	15	pills	pill	NOUN
cjal-3260	269	16	under	under	ADP
cjal-3260	269	17	u.s	u.s	PROPN
cjal-3260	269	18	.	.	PROPN
cjal-3260	269	19	and	and	CCONJ
cjal-3260	269	20	delaware	delaware	PROPN
cjal-3260	269	21	law	law	PROPN
cjal-3260	269	22	;	;	PUNCT
cjal-3260	269	23	given	give	VERB
cjal-3260	269	24	that	that	SCONJ
cjal-3260	269	25	there	there	PRON
cjal-3260	269	26	is	be	VERB
cjal-3260	269	27	no	no	DET
cjal-3260	269	28	requirement	requirement	NOUN
cjal-3260	269	29	to	to	PART
cjal-3260	269	30	obtain	obtain	VERB
cjal-3260	269	31	shareholder	shareholder	NOUN
cjal-3260	269	32	consent	consent	NOUN
cjal-3260	269	33	,	,	PUNCT
cjal-3260	269	34	companies	company	NOUN
cjal-3260	269	35	have	have	AUX
cjal-3260	269	36	rarely	rarely	ADV
cjal-3260	269	37	done	do	VERB
cjal-3260	269	38	so	so	ADV
cjal-3260	269	39	.	.	PUNCT
cjal-3260	270	1	6	6	NUM
cjal-3260	270	2	2	2	NUM
cjal-3260	270	3	shareholders	shareholder	NOUN
cjal-3260	270	4	now	now	ADV
cjal-3260	270	5	are	be	AUX
cjal-3260	270	6	taking	take	VERB
cjal-3260	270	7	actions	action	NOUN
cjal-3260	270	8	to	to	PART
cjal-3260	270	9	remove	remove	VERB
cjal-3260	270	10	the	the	DET
cjal-3260	270	11	board	board	NOUN
cjal-3260	270	12	veto	veto	NOUN
cjal-3260	270	13	where	where	SCONJ
cjal-3260	270	14	a	a	DET
cjal-3260	270	15	majority	majority	NOUN
cjal-3260	270	16	of	of	ADP
cjal-3260	270	17	shareholders	shareholder	NOUN
cjal-3260	270	18	would	would	AUX
cjal-3260	270	19	likely	likely	ADV
cjal-3260	270	20	approve	approve	VERB
cjal-3260	270	21	a	a	DET
cjal-3260	270	22	premium	premium	NOUN
cjal-3260	270	23	buyout	buyout	NOUN
cjal-3260	270	24	offer	offer	NOUN
cjal-3260	270	25	.	.	PUNCT
cjal-3260	271	1	the	the	DET
cjal-3260	271	2	actions	action	NOUN
cjal-3260	271	3	are	be	AUX
cjal-3260	271	4	coming	come	VERB
cjal-3260	271	5	primarily	primarily	ADV
cjal-3260	271	6	in	in	ADP
cjal-3260	271	7	the	the	DET
cjal-3260	271	8	form	form	NOUN
cjal-3260	271	9	of	of	ADP
cjal-3260	271	10	shareholder	shareholder	NOUN
cjal-3260	271	11	proposals	proposal	NOUN
cjal-3260	271	12	requesting	request	VERB
cjal-3260	271	13	that	that	SCONJ
cjal-3260	271	14	companies	company	NOUN
cjal-3260	271	15	eliminate	eliminate	VERB
cjal-3260	271	16	or	or	CCONJ
cjal-3260	271	17	not	not	PART
cjal-3260	271	18	adopt	adopt	VERB
cjal-3260	271	19	poison	poison	NOUN
cjal-3260	271	20	pills	pill	NOUN
cjal-3260	271	21	without	without	ADP
cjal-3260	271	22	limiting	limit	VERB
cjal-3260	271	23	terms	term	NOUN
cjal-3260	271	24	such	such	ADJ
cjal-3260	271	25	as	as	ADP
cjal-3260	271	26	shareholder	shareholder	NOUN
cjal-3260	271	27	approval	approval	NOUN
cjal-3260	271	28	,	,	PUNCT
cjal-3260	271	29	expiration	expiration	NOUN
cjal-3260	271	30	dates	date	NOUN
cjal-3260	271	31	or	or	CCONJ
cjal-3260	271	32	sunset	sunset	NOUN
cjal-3260	271	33	terms	term	NOUN
cjal-3260	271	34	,	,	PUNCT
cjal-3260	271	35	and	and	CCONJ
cjal-3260	271	36	limits	limit	NOUN
cjal-3260	271	37	to	to	ADP
cjal-3260	271	38	its	its	PRON
cjal-3260	271	39	use	use	NOUN
cjal-3260	271	40	in	in	ADP
cjal-3260	271	41	the	the	DET
cjal-3260	271	42	event	event	NOUN
cjal-3260	271	43	of	of	ADP
cjal-3260	271	44	a	a	DET
cjal-3260	271	45	qualifying	qualifying	NOUN
cjal-3260	271	46	offer	offer	NOUN
cjal-3260	271	47	.	.	PUNCT
cjal-3260	272	1	63	63	NUM
cjal-3260	272	2	58	58	NUM
cjal-3260	272	3	ronald	ronald	PROPN
cjal-3260	272	4	j.	j.	PROPN
cjal-3260	272	5	gilson	gilson	PROPN
cjal-3260	272	6	,	,	PUNCT
cjal-3260	272	7	the	the	DET
cjal-3260	272	8	poison	poison	NOUN
cjal-3260	272	9	pill	pill	NOUN
cjal-3260	272	10	in	in	ADP
cjal-3260	272	11	japan	japan	PROPN
cjal-3260	272	12	:	:	PUNCT
cjal-3260	272	13	the	the	DET
cjal-3260	272	14	missing	miss	VERB
cjal-3260	272	15	infrastructure	infrastructure	NOUN
cjal-3260	272	16	,	,	PUNCT
cjal-3260	272	17	2004	2004	NUM
cjal-3260	272	18	colum	colum	NOUN
cjal-3260	272	19	.	.	PUNCT
cjal-3260	273	1	bus	bus	NOUN
cjal-3260	273	2	.	.	PUNCT
cjal-3260	274	1	l.	l.	PROPN
cjal-3260	274	2	rev	rev	PROPN
cjal-3260	274	3	.	.	PROPN
cjal-3260	274	4	21	21	NUM
cjal-3260	274	5	,	,	PUNCT
cjal-3260	274	6	31	31	NUM
cjal-3260	274	7	(	(	PUNCT
cjal-3260	274	8	2004	2004	NUM
cjal-3260	274	9	)	)	PUNCT
cjal-3260	274	10	.	.	PUNCT
cjal-3260	275	1	59	59	NUM
cjal-3260	275	2	ronald	ronald	PROPN
cjal-3260	275	3	j.	j.	PROPN
cjal-3260	275	4	gilson	gilson	PROPN
cjal-3260	275	5	&	&	CCONJ
cjal-3260	275	6	reinier	reinier	PROPN
cjal-3260	275	7	kraakman	kraakman	PROPN
cjal-3260	275	8	,	,	PUNCT
cjal-3260	275	9	takeovers	takeover	NOUN
cjal-3260	275	10	in	in	ADP
cjal-3260	275	11	the	the	DET
cjal-3260	275	12	boardroom	boardroom	NOUN
cjal-3260	275	13	:	:	PUNCT
cjal-3260	275	14	burke	burke	NOUN
cjal-3260	275	15	versus	versus	ADP
cjal-3260	275	16	schumpeter	schumpeter	NOUN
cjal-3260	275	17	(	(	PUNCT
cjal-3260	275	18	paper	paper	NOUN
cjal-3260	275	19	presented	present	VERB
cjal-3260	275	20	at	at	ADP
cjal-3260	275	21	aba	aba	PROPN
cjal-3260	275	22	symposium	symposium	NOUN
cjal-3260	275	23	,	,	PUNCT
cjal-3260	275	24	supra	supra	PROPN
cjal-3260	275	25	note	note	NOUN
cjal-3260	275	26	47	47	NUM
cjal-3260	275	27	)	)	PUNCT
cjal-3260	275	28	,	,	PUNCT
cjal-3260	275	29	available	available	ADJ
cjal-3260	275	30	at	at	ADP
cjal-3260	275	31	http://papers.ssrn.com/sol3/papers.cfm?abstractid=732783	http://papers.ssrn.com/sol3/papers.cfm?abstractid=732783	PROPN
cjal-3260	275	32	.	.	PROPN
cjal-3260	276	1	60	60	NUM
cjal-3260	276	2	victor	victor	NOUN
cjal-3260	276	3	lewkow	lewkow	PROPN
cjal-3260	276	4	&	&	CCONJ
cjal-3260	276	5	sarah	sarah	PROPN
cjal-3260	276	6	ten	ten	NUM
cjal-3260	276	7	siethoff	siethoff	NOUN
cjal-3260	276	8	,	,	PUNCT
cjal-3260	276	9	the	the	DET
cjal-3260	276	10	embattled	embattle	VERB
cjal-3260	276	11	poison	poison	NOUN
cjal-3260	276	12	pill	pill	NOUN
cjal-3260	276	13	,	,	PUNCT
cjal-3260	276	14	cleary	cleary	PROPN
cjal-3260	276	15	gottlieb	gottlieb	PROPN
cjal-3260	276	16	mergers	mergers	PROPN
cjal-3260	276	17	&	&	CCONJ
cjal-3260	276	18	acquisitions	acquisition	NOUN
cjal-3260	276	19	rep	rep	PROPN
cjal-3260	276	20	.	.	PROPN
cjal-3260	276	21	4	4	NUM
cjal-3260	276	22	,	,	PUNCT
cjal-3260	276	23	5	5	NUM
cjal-3260	276	24	(	(	PUNCT
cjal-3260	276	25	mar	mar	PROPN
cjal-3260	276	26	.	.	PROPN
cjal-3260	276	27	2005	2005	NUM
cjal-3260	276	28	)	)	PUNCT
cjal-3260	276	29	,	,	PUNCT
cjal-3260	276	30	available	available	ADJ
cjal-3260	276	31	at	at	ADP
cjal-3260	276	32	http://www.cgsh.com/files/tbl-s47details%5cfileupload265%5c296%5ccgshma-report-_march_2005_rev.pdf	http://www.cgsh.com/files/tbl-s47details%5cfileupload265%5c296%5ccgshma-report-_march_2005_rev.pdf	PROPN
cjal-3260	276	33	.	.	PUNCT
cjal-3260	277	1	61	61	NUM
cjal-3260	277	2	lawrence	lawrence	PROPN
cjal-3260	277	3	d.	d.	PROPN
cjal-3260	277	4	brown	brown	PROPN
cjal-3260	277	5	&	&	CCONJ
cjal-3260	277	6	marcus	marcus	PROPN
cjal-3260	277	7	l.	l.	PROPN
cjal-3260	277	8	caylor	caylor	PROPN
cjal-3260	277	9	,	,	PUNCT
cjal-3260	277	10	corporate	corporate	ADJ
cjal-3260	277	11	governance	governance	NOUN
cjal-3260	277	12	and	and	CCONJ
cjal-3260	277	13	company	company	NOUN
cjal-3260	277	14	performance	performance	NOUN
cjal-3260	277	15	(	(	PUNCT
cjal-3260	277	16	dec	dec	PROPN
cjal-3260	277	17	.	.	PROPN
cjal-3260	277	18	7	7	NUM
cjal-3260	277	19	,	,	PUNCT
cjal-3260	277	20	2004	2004	NUM
cjal-3260	277	21	)	)	PUNCT
cjal-3260	277	22	,	,	PUNCT
cjal-3260	277	23	available	available	ADJ
cjal-3260	277	24	at	at	ADP
cjal-3260	277	25	http://www.issproxy.com/pdf/corporate%20governance%20study%201.04.pdf	http://www.issproxy.com/pdf/corporate%20governance%20study%201.04.pdf	NOUN
cjal-3260	277	26	.	.	PUNCT
cjal-3260	278	1	62	62	NUM
cjal-3260	278	2	lewkow	lewkow	PROPN
cjal-3260	278	3	&	&	CCONJ
cjal-3260	278	4	siethoff	siethoff	NOUN
cjal-3260	278	5	,	,	PUNCT
cjal-3260	278	6	supra	supra	PROPN
cjal-3260	278	7	note	note	NOUN
cjal-3260	278	8	60	60	NUM
cjal-3260	278	9	,	,	PUNCT
cjal-3260	278	10	at	at	ADP
cjal-3260	278	11	5	5	NUM
cjal-3260	278	12	.	.	NUM
cjal-3260	278	13	63	63	NUM
cjal-3260	279	1	i	i	PRON
cjal-3260	279	2	d.	d.	PROPN
cjal-3260	279	3	2007	2007	NUM
cjal-3260	279	4	]	]	PUNCT
cjal-3260	279	5	columbia	columbia	PROPN
cjal-3260	279	6	journal	journal	PROPN
cjal-3260	279	7	ofasianlaw	ofasianlaw	NOUN
cjal-3260	279	8	companies	company	NOUN
cjal-3260	279	9	have	have	AUX
cjal-3260	279	10	received	receive	VERB
cjal-3260	279	11	the	the	DET
cjal-3260	279	12	message	message	NOUN
cjal-3260	279	13	and	and	CCONJ
cjal-3260	279	14	responded	respond	VERB
cjal-3260	279	15	quickly	quickly	ADV
cjal-3260	279	16	,	,	PUNCT
cjal-3260	279	17	many	many	ADJ
cjal-3260	279	18	without	without	ADP
cjal-3260	279	19	waiting	wait	VERB
cjal-3260	279	20	for	for	ADP
cjal-3260	279	21	the	the	DET
cjal-3260	279	22	shareholder	shareholder	NOUN
cjal-3260	279	23	proposal	proposal	NOUN
cjal-3260	279	24	to	to	PART
cjal-3260	279	25	embarrass	embarrass	VERB
cjal-3260	279	26	them.64	them.64	NOUN
cjal-3260	279	27	some	some	DET
cjal-3260	279	28	companies	company	NOUN
cjal-3260	279	29	have	have	AUX
cjal-3260	279	30	added	add	VERB
cjal-3260	279	31	a	a	DET
cjal-3260	279	32	tide	tide	NOUN
cjal-3260	279	33	provision	provision	NOUN
cjal-3260	279	34	(	(	PUNCT
cjal-3260	279	35	three	three	NUM
cjal-3260	279	36	-	-	PUNCT
cjal-3260	279	37	year	year	NOUN
cjal-3260	279	38	independent	independent	ADJ
cjal-3260	279	39	director	director	NOUN
cjal-3260	279	40	evaluation	evaluation	NOUN
cjal-3260	279	41	)	)	PUNCT
cjal-3260	279	42	requiring	require	VERB
cjal-3260	279	43	independent	independent	ADJ
cjal-3260	279	44	directors	director	NOUN
cjal-3260	279	45	to	to	PART
cjal-3260	279	46	review	review	VERB
cjal-3260	279	47	and	and	CCONJ
cjal-3260	279	48	decide	decide	VERB
cjal-3260	279	49	whether	whether	SCONJ
cjal-3260	279	50	to	to	PART
cjal-3260	279	51	terminate	terminate	VERB
cjal-3260	279	52	the	the	DET
cjal-3260	279	53	pill	pill	NOUN
cjal-3260	279	54	every	every	DET
cjal-3260	279	55	three	three	NUM
cjal-3260	279	56	years	year	NOUN
cjal-3260	279	57	;	;	PUNCT
cjal-3260	279	58	others	other	NOUN
cjal-3260	279	59	added	add	VERB
cjal-3260	279	60	a	a	DET
cjal-3260	279	61	provision	provision	NOUN
cjal-3260	279	62	requiring	require	VERB
cjal-3260	279	63	either	either	CCONJ
cjal-3260	279	64	the	the	DET
cjal-3260	279	65	board	board	NOUN
cjal-3260	279	66	or	or	CCONJ
cjal-3260	279	67	shareholders	shareholder	NOUN
cjal-3260	279	68	to	to	PART
cjal-3260	279	69	review	review	VERB
cjal-3260	279	70	and	and	CCONJ
cjal-3260	279	71	renew	renew	VERB
cjal-3260	279	72	or	or	CCONJ
cjal-3260	279	73	cancel	cancel	VERB
cjal-3260	279	74	the	the	DET
cjal-3260	279	75	pill	pill	NOUN
cjal-3260	279	76	after	after	ADP
cjal-3260	279	77	a	a	DET
cjal-3260	279	78	few	few	ADJ
cjal-3260	279	79	years	year	NOUN
cjal-3260	279	80	;	;	PUNCT
cjal-3260	279	81	some	some	PRON
cjal-3260	279	82	specified	specify	VERB
cjal-3260	279	83	qualified	qualified	ADJ
cjal-3260	279	84	offer	offer	NOUN
cjal-3260	279	85	criteria	criterion	NOUN
cjal-3260	279	86	in	in	ADP
cjal-3260	279	87	which	which	DET
cjal-3260	279	88	case	case	NOUN
cjal-3260	279	89	the	the	DET
cjal-3260	279	90	pill	pill	NOUN
cjal-3260	279	91	does	do	AUX
cjal-3260	279	92	not	not	PART
cjal-3260	279	93	apply	apply	VERB
cjal-3260	279	94	.	.	PUNCT
cjal-3260	280	1	65	65	NUM
cjal-3260	280	2	other	other	ADJ
cjal-3260	280	3	companies	company	NOUN
cjal-3260	280	4	,	,	PUNCT
cjal-3260	280	5	including	include	VERB
cjal-3260	280	6	general	general	ADJ
cjal-3260	280	7	electric	electric	NOUN
cjal-3260	280	8	,	,	PUNCT
cjal-3260	280	9	have	have	AUX
cjal-3260	280	10	adopted	adopt	VERB
cjal-3260	280	11	commitments	commitment	NOUN
cjal-3260	280	12	to	to	ADP
cjal-3260	280	13	their	their	PRON
cjal-3260	280	14	shareholders	shareholder	NOUN
cjal-3260	280	15	regarding	regard	VERB
cjal-3260	280	16	possible	possible	ADJ
cjal-3260	280	17	future	future	ADJ
cjal-3260	280	18	adoption	adoption	NOUN
cjal-3260	280	19	of	of	ADP
cjal-3260	280	20	a	a	DET
cjal-3260	280	21	poison	poison	NOUN
cjal-3260	280	22	pill	pill	NOUN
cjal-3260	280	23	:	:	PUNCT
cjal-3260	280	24	its	its	PRON
cjal-3260	280	25	adoption	adoption	NOUN
cjal-3260	280	26	would	would	AUX
cjal-3260	280	27	be	be	AUX
cjal-3260	280	28	submitted	submit	VERB
cjal-3260	280	29	to	to	ADP
cjal-3260	280	30	shareholders	shareholder	NOUN
cjal-3260	280	31	for	for	ADP
cjal-3260	280	32	prior	prior	ADJ
cjal-3260	280	33	approval	approval	NOUN
cjal-3260	280	34	,	,	PUNCT
cjal-3260	280	35	or	or	CCONJ
cjal-3260	280	36	for	for	ADP
cjal-3260	280	37	ratification	ratification	NOUN
cjal-3260	280	38	within	within	ADP
cjal-3260	280	39	twelve	twelve	NUM
cjal-3260	280	40	months.66	months.66	NOUN
cjal-3260	280	41	these	these	DET
cjal-3260	280	42	proposals	proposal	NOUN
cjal-3260	280	43	came	come	VERB
cjal-3260	280	44	very	very	ADV
cjal-3260	280	45	quickly	quickly	ADV
cjal-3260	280	46	on	on	ADP
cjal-3260	280	47	the	the	DET
cjal-3260	280	48	heels	heel	NOUN
cjal-3260	280	49	of	of	ADP
cjal-3260	280	50	the	the	DET
cjal-3260	280	51	independent	independent	ADJ
cjal-3260	280	52	director	director	NOUN
cjal-3260	280	53	requirements	requirement	NOUN
cjal-3260	280	54	and	and	CCONJ
cjal-3260	280	55	board	board	PROPN
cjal-3260	280	56	committee	committee	NOUN
cjal-3260	280	57	procedures	procedure	NOUN
cjal-3260	280	58	enacted	enact	VERB
cjal-3260	280	59	under	under	ADP
cjal-3260	280	60	the	the	DET
cjal-3260	280	61	sarbanes	sarbanes	PROPN
cjal-3260	280	62	-	-	PUNCT
cjal-3260	280	63	oxley	oxley	ADJ
cjal-3260	280	64	act	act	NOUN
cjal-3260	280	65	of	of	ADP
cjal-3260	280	66	2002	2002	NUM
cjal-3260	280	67	in	in	ADP
cjal-3260	280	68	the	the	DET
cjal-3260	280	69	post	post	NOUN
cjal-3260	280	70	-	-	PROPN
cjal-3260	280	71	enron	enron	PROPN
cjal-3260	280	72	and	and	CCONJ
cjal-3260	280	73	worldcom	worldcom	PROPN
cjal-3260	280	74	fever	fever	PROPN
cjal-3260	280	75	of	of	ADP
cjal-3260	280	76	corporate	corporate	ADJ
cjal-3260	280	77	governance	governance	NOUN
cjal-3260	280	78	.	.	PUNCT
cjal-3260	281	1	they	they	PRON
cjal-3260	281	2	reflect	reflect	VERB
cjal-3260	281	3	the	the	DET
cjal-3260	281	4	capital	capital	NOUN
cjal-3260	281	5	markets	market	NOUN
cjal-3260	281	6	'	'	PART
cjal-3260	281	7	reaction	reaction	NOUN
cjal-3260	281	8	to	to	ADP
cjal-3260	281	9	the	the	DET
cjal-3260	281	10	fraud	fraud	NOUN
cjal-3260	281	11	and	and	CCONJ
cjal-3260	281	12	loss	loss	NOUN
cjal-3260	281	13	of	of	ADP
cjal-3260	281	14	confidence	confidence	NOUN
cjal-3260	281	15	in	in	ADP
cjal-3260	281	16	boards	board	NOUN
cjal-3260	281	17	'	'	PART
cjal-3260	281	18	abilities	ability	NOUN
cjal-3260	281	19	to	to	PART
cjal-3260	281	20	effectively	effectively	ADV
cjal-3260	281	21	protect	protect	VERB
cjal-3260	281	22	shareholder	shareholder	NOUN
cjal-3260	281	23	interests	interest	NOUN
cjal-3260	281	24	.	.	PUNCT
cjal-3260	282	1	how	how	SCONJ
cjal-3260	282	2	these	these	DET
cjal-3260	282	3	requirements	requirement	NOUN
cjal-3260	282	4	for	for	ADP
cjal-3260	282	5	shareholder	shareholder	NOUN
cjal-3260	282	6	approval	approval	NOUN
cjal-3260	282	7	may	may	AUX
cjal-3260	282	8	play	play	VERB
cjal-3260	282	9	out	out	ADP
cjal-3260	282	10	when	when	SCONJ
cjal-3260	282	11	tested	test	VERB
cjal-3260	282	12	remains	remain	VERB
cjal-3260	282	13	to	to	PART
cjal-3260	282	14	be	be	AUX
cjal-3260	282	15	seen.67	seen.67	PROPN
cjal-3260	282	16	in	in	ADP
cjal-3260	282	17	its	its	PRON
cjal-3260	282	18	u.s	u.s	PROPN
cjal-3260	282	19	.	.	PROPN
cjal-3260	282	20	history	history	NOUN
cjal-3260	282	21	to	to	ADP
cjal-3260	282	22	date	date	NOUN
cjal-3260	282	23	,	,	PUNCT
cjal-3260	282	24	the	the	DET
cjal-3260	282	25	poison	poison	NOUN
cjal-3260	282	26	pill	pill	NOUN
cjal-3260	282	27	has	have	AUX
cjal-3260	282	28	not	not	PART
cjal-3260	282	29	required	require	VERB
cjal-3260	282	30	shareholder	shareholder	NOUN
cjal-3260	282	31	approval	approval	NOUN
cjal-3260	282	32	for	for	ADP
cjal-3260	282	33	adoption	adoption	NOUN
cjal-3260	282	34	,	,	PUNCT
cjal-3260	282	35	though	though	SCONJ
cjal-3260	282	36	pressure	pressure	NOUN
cjal-3260	282	37	from	from	ADP
cjal-3260	282	38	institutional	institutional	ADJ
cjal-3260	282	39	shareholders	shareholder	NOUN
cjal-3260	282	40	now	now	ADV
cjal-3260	282	41	indicates	indicate	VERB
cjal-3260	282	42	that	that	SCONJ
cjal-3260	282	43	they	they	PRON
cjal-3260	282	44	are	be	AUX
cjal-3260	282	45	developing	develop	VERB
cjal-3260	282	46	adaptive	adaptive	ADJ
cjal-3260	282	47	responses	response	NOUN
cjal-3260	282	48	to	to	ADP
cjal-3260	282	49	a	a	DET
cjal-3260	282	50	situation	situation	NOUN
cjal-3260	282	51	of	of	ADP
cjal-3260	282	52	insider	insider	NOUN
cjal-3260	282	53	over	over	ADP
cjal-3260	282	54	-	-	PUNCT
cjal-3260	282	55	protection	protection	NOUN
cjal-3260	282	56	,	,	PUNCT
cjal-3260	282	57	and	and	CCONJ
cjal-3260	282	58	may	may	AUX
cjal-3260	282	59	succeed	succeed	VERB
cjal-3260	282	60	in	in	ADP
cjal-3260	282	61	pressuring	pressure	VERB
cjal-3260	282	62	boards	board	NOUN
cjal-3260	282	63	to	to	PART
cjal-3260	282	64	remove	remove	VERB
cjal-3260	282	65	pills	pill	NOUN
cjal-3260	282	66	or	or	CCONJ
cjal-3260	282	67	reduce	reduce	VERB
cjal-3260	282	68	their	their	PRON
cjal-3260	282	69	entrenchment	entrenchment	ADJ
cjal-3260	282	70	potential	potential	NOUN
cjal-3260	282	71	.	.	PUNCT
cjal-3260	283	1	interestingly	interestingly	ADV
cjal-3260	283	2	,	,	PUNCT
cjal-3260	283	3	in	in	ADP
cjal-3260	283	4	relation	relation	NOUN
cjal-3260	283	5	to	to	ADP
cjal-3260	283	6	how	how	SCONJ
cjal-3260	283	7	the	the	DET
cjal-3260	283	8	pill	pill	NOUN
cjal-3260	283	9	might	might	AUX
cjal-3260	283	10	be	be	AUX
cjal-3260	283	11	used	use	VERB
cjal-3260	283	12	in	in	ADP
cjal-3260	283	13	a	a	DET
cjal-3260	283	14	market	market	NOUN
cjal-3260	283	15	characterized	characterize	VERB
cjal-3260	283	16	by	by	ADP
cjal-3260	283	17	cms	cms	NOUN
cjal-3260	283	18	companies	company	NOUN
cjal-3260	283	19	,	,	PUNCT
cjal-3260	283	20	empirical	empirical	ADJ
cjal-3260	283	21	research	research	NOUN
cjal-3260	283	22	in	in	ADP
cjal-3260	283	23	the	the	DET
cjal-3260	283	24	u.s	u.s	PROPN
cjal-3260	283	25	.	.	PROPN
cjal-3260	283	26	tested	test	VERB
cjal-3260	283	27	a	a	DET
cjal-3260	283	28	hypothesis	hypothesis	NOUN
cjal-3260	283	29	that	that	PRON
cjal-3260	283	30	managers	manager	NOUN
cjal-3260	283	31	with	with	ADP
cjal-3260	283	32	a	a	DET
cjal-3260	283	33	smaller	small	ADJ
cjal-3260	283	34	ownership	ownership	NOUN
cjal-3260	283	35	stake	stake	NOUN
cjal-3260	283	36	in	in	ADP
cjal-3260	283	37	their	their	PRON
cjal-3260	283	38	firms	firm	NOUN
cjal-3260	283	39	would	would	AUX
cjal-3260	283	40	gain	gain	VERB
cjal-3260	283	41	less	less	ADJ
cjal-3260	283	42	from	from	ADP
cjal-3260	283	43	a	a	DET
cjal-3260	283	44	premium	premium	NOUN
cjal-3260	283	45	takeover	takeover	NOUN
cjal-3260	283	46	than	than	ADP
cjal-3260	283	47	managers	manager	NOUN
cjal-3260	283	48	who	who	PRON
cjal-3260	283	49	had	have	VERB
cjal-3260	283	50	a	a	DET
cjal-3260	283	51	greater	great	ADJ
cjal-3260	283	52	ownership	ownership	NOUN
cjal-3260	283	53	stake	stake	NOUN
cjal-3260	283	54	(	(	PUNCT
cjal-3260	283	55	because	because	SCONJ
cjal-3260	283	56	they	they	PRON
cjal-3260	283	57	would	would	AUX
cjal-3260	283	58	receive	receive	VERB
cjal-3260	283	59	less	less	ADJ
cjal-3260	283	60	of	of	ADP
cjal-3260	283	61	the	the	DET
cjal-3260	283	62	premium	premium	NOUN
cjal-3260	283	63	)	)	PUNCT
cjal-3260	283	64	,	,	PUNCT
cjal-3260	283	65	and	and	CCONJ
cjal-3260	283	66	thus	thus	ADV
cjal-3260	283	67	would	would	AUX
cjal-3260	283	68	be	be	AUX
cjal-3260	283	69	more	more	ADV
cjal-3260	283	70	likely	likely	ADJ
cjal-3260	283	71	to	to	PART
cjal-3260	283	72	cause	cause	VERB
cjal-3260	283	73	their	their	PRON
cjal-3260	283	74	companies	company	NOUN
cjal-3260	283	75	to	to	PART
cjal-3260	283	76	adopt	adopt	VERB
cjal-3260	283	77	defensive	defensive	ADJ
cjal-3260	283	78	measures	measure	NOUN
cjal-3260	283	79	like	like	ADP
cjal-3260	283	80	poison	poison	NOUN
cjal-3260	283	81	pills	pill	NOUN
cjal-3260	283	82	.	.	PUNCT
cjal-3260	284	1	68	68	NUM
cjal-3260	284	2	the	the	DET
cjal-3260	284	3	data	datum	NOUN
cjal-3260	284	4	was	be	AUX
cjal-3260	284	5	supportive	supportive	ADJ
cjal-3260	284	6	:	:	PUNCT
cjal-3260	284	7	managerial	managerial	ADJ
cjal-3260	284	8	ownership	ownership	NOUN
cjal-3260	284	9	in	in	ADP
cjal-3260	284	10	firms	firm	NOUN
cjal-3260	284	11	that	that	PRON
cjal-3260	284	12	adopted	adopt	VERB
cjal-3260	284	13	poison	poison	NOUN
cjal-3260	284	14	pill	pill	NOUN
cjal-3260	284	15	plans	plan	NOUN
cjal-3260	284	16	was	be	AUX
cjal-3260	284	17	less	less	ADV
cjal-3260	284	18	64	64	NUM
cjal-3260	284	19	i	i	PRON
cjal-3260	284	20	d.	d.	PROPN
cjal-3260	284	21	65	65	NUM
cjal-3260	285	1	i	i	PRON
cjal-3260	285	2	d.	d.	PROPN
cjal-3260	285	3	66	66	NUM
cjal-3260	286	1	i	i	PRON
cjal-3260	286	2	d.	d.	PROPN
cjal-3260	286	3	67	67	NUM
cjal-3260	286	4	the	the	DET
cjal-3260	286	5	initial	initial	ADJ
cjal-3260	286	6	delaware	delaware	PROPN
cjal-3260	286	7	decision	decision	NOUN
cjal-3260	286	8	may	may	AUX
cjal-3260	286	9	come	come	VERB
cjal-3260	286	10	in	in	ADP
cjal-3260	286	11	the	the	DET
cjal-3260	286	12	litigation	litigation	NOUN
cjal-3260	286	13	surrounding	surround	VERB
cjal-3260	286	14	newscorp	newscorp	PROPN
cjal-3260	286	15	's	's	PART
cjal-3260	286	16	reincorporation	reincorporation	NOUN
cjal-3260	286	17	to	to	ADP
cjal-3260	286	18	delaware	delaware	PROPN
cjal-3260	286	19	from	from	ADP
cjal-3260	286	20	australia	australia	PROPN
cjal-3260	286	21	,	,	PUNCT
cjal-3260	286	22	and	and	CCONJ
cjal-3260	286	23	its	its	PRON
cjal-3260	286	24	refusal	refusal	NOUN
cjal-3260	286	25	to	to	PART
cjal-3260	286	26	remove	remove	VERB
cjal-3260	286	27	a	a	DET
cjal-3260	286	28	poison	poison	NOUN
cjal-3260	286	29	pill	pill	NOUN
cjal-3260	286	30	as	as	SCONJ
cjal-3260	286	31	promised	promise	VERB
cjal-3260	286	32	in	in	ADP
cjal-3260	286	33	a	a	DET
cjal-3260	286	34	non	non	ADJ
cjal-3260	286	35	-	-	ADJ
cjal-3260	286	36	binding	binding	ADJ
cjal-3260	286	37	commitment	commitment	NOUN
cjal-3260	286	38	to	to	ADP
cjal-3260	286	39	shareholders	shareholder	NOUN
cjal-3260	286	40	(	(	PUNCT
cjal-3260	286	41	if	if	SCONJ
cjal-3260	286	42	such	such	DET
cjal-3260	286	43	an	an	DET
cjal-3260	286	44	oxymoron	oxymoron	NOUN
cjal-3260	286	45	can	can	AUX
cjal-3260	286	46	exist	exist	VERB
cjal-3260	286	47	in	in	ADP
cjal-3260	286	48	law	law	NOUN
cjal-3260	286	49	)	)	PUNCT
cjal-3260	286	50	.	.	PUNCT
cjal-3260	287	1	see	see	VERB
cjal-3260	287	2	unisuper	unisuper	PROPN
cjal-3260	287	3	ltd	ltd	PROPN
cjal-3260	287	4	.	.	PROPN
cjal-3260	287	5	v.	v.	ADP
cjal-3260	287	6	news	news	PROPN
cjal-3260	287	7	corp	corp	PROPN
cjal-3260	287	8	.	.	PROPN
cjal-3260	287	9	,	,	PUNCT
cjal-3260	287	10	2005	2005	NUM
cjal-3260	287	11	wl	wl	NOUN
cjal-3260	287	12	3529317	3529317	NUM
cjal-3260	287	13	(	(	PUNCT
cjal-3260	287	14	west	west	PROPN
cjal-3260	287	15	)	)	PUNCT
cjal-3260	287	16	(	(	PUNCT
cjal-3260	287	17	del	del	PROPN
cjal-3260	287	18	.	.	PROPN
cjal-3260	287	19	ch	ch	PROPN
cjal-3260	287	20	.	.	PUNCT
cjal-3260	288	1	ct	ct	PROPN
cjal-3260	288	2	.	.	PUNCT
cjal-3260	289	1	dec	dec	PROPN
cjal-3260	289	2	.	.	PROPN
cjal-3260	289	3	20	20	NUM
cjal-3260	289	4	,	,	PUNCT
cjal-3260	289	5	2005	2005	NUM
cjal-3260	289	6	)	)	PUNCT
cjal-3260	289	7	.	.	PUNCT
cjal-3260	290	1	68	68	NUM
cjal-3260	290	2	paul	paul	PROPN
cjal-3260	290	3	h.	h.	PROPN
cjal-3260	290	4	malatesta	malatesta	PROPN
cjal-3260	290	5	&	&	CCONJ
cjal-3260	290	6	ralph	ralph	PROPN
cjal-3260	290	7	a.	a.	PROPN
cjal-3260	290	8	walkling	walkling	PROPN
cjal-3260	290	9	,	,	PUNCT
cjal-3260	290	10	poison	poison	NOUN
cjal-3260	290	11	pill	pill	NOUN
cjal-3260	290	12	securities	security	NOUN
cjal-3260	290	13	:	:	PUNCT
cjal-3260	290	14	stockholder	stockholder	NOUN
cjal-3260	290	15	wealth	wealth	NOUN
cjal-3260	290	16	,	,	PUNCT
cjal-3260	290	17	profitability	profitability	NOUN
cjal-3260	290	18	,	,	PUNCT
cjal-3260	290	19	and	and	CCONJ
cjal-3260	290	20	ownership	ownership	NOUN
cjal-3260	290	21	structure	structure	NOUN
cjal-3260	290	22	,	,	PUNCT
cjal-3260	290	23	20	20	NUM
cjal-3260	290	24	j.	j.	PROPN
cjal-3260	290	25	fin	fin	PROPN
cjal-3260	290	26	.	.	PUNCT
cjal-3260	290	27	econ	econ	PROPN
cjal-3260	290	28	.	.	PUNCT
cjal-3260	291	1	347	347	NUM
cjal-3260	291	2	(	(	PUNCT
cjal-3260	291	3	1988	1988	NUM
cjal-3260	291	4	)	)	PUNCT
cjal-3260	291	5	.	.	PUNCT
cjal-3260	292	1	402	402	NUM
cjal-3260	293	1	[	[	X
cjal-3260	293	2	20:2	20:2	NUM
cjal-3260	293	3	national	national	ADJ
cjal-3260	293	4	markets	market	NOUN
cjal-3260	293	5	,	,	PUNCT
cjal-3260	293	6	new	new	ADJ
cjal-3260	293	7	defenses	defense	NOUN
cjal-3260	293	8	than	than	ADP
cjal-3260	293	9	half	half	DET
cjal-3260	293	10	that	that	PRON
cjal-3260	293	11	of	of	ADP
cjal-3260	293	12	other	other	ADJ
cjal-3260	293	13	companies	company	NOUN
cjal-3260	293	14	in	in	ADP
cjal-3260	293	15	the	the	DET
cjal-3260	293	16	same	same	ADJ
cjal-3260	293	17	industries	industry	NOUN
cjal-3260	293	18	.	.	PUNCT
cjal-3260	294	1	69	69	NUM
cjal-3260	294	2	gilson	gilson	NOUN
cjal-3260	294	3	and	and	CCONJ
cjal-3260	294	4	black	black	NOUN
cjal-3260	294	5	interpreted	interpret	VERB
cjal-3260	294	6	this	this	DET
cjal-3260	294	7	finding	finding	NOUN
cjal-3260	294	8	to	to	PART
cjal-3260	294	9	indicate	indicate	VERB
cjal-3260	294	10	that	that	SCONJ
cjal-3260	294	11	"	"	PUNCT
cjal-3260	294	12	the	the	PRON
cjal-3260	294	13	lower	low	ADJ
cjal-3260	294	14	the	the	DET
cjal-3260	294	15	managerial	managerial	ADJ
cjal-3260	294	16	ownership	ownership	NOUN
cjal-3260	294	17	,	,	PUNCT
cjal-3260	294	18	the	the	DET
cjal-3260	294	19	more	more	ADV
cjal-3260	294	20	difficult	difficult	ADJ
cjal-3260	294	21	shareholder	shareholder	NOUN
cjal-3260	294	22	approval	approval	NOUN
cjal-3260	294	23	will	will	AUX
cjal-3260	294	24	be	be	AUX
cjal-3260	294	25	to	to	PART
cjal-3260	294	26	secure	secure	VERB
cjal-3260	294	27	,	,	PUNCT
cjal-3260	294	28	and	and	CCONJ
cjal-3260	294	29	the	the	DET
cjal-3260	294	30	more	more	ADV
cjal-3260	294	31	likely	likely	ADJ
cjal-3260	294	32	managers	manager	NOUN
cjal-3260	294	33	will	will	AUX
cjal-3260	294	34	select	select	VERB
cjal-3260	294	35	a	a	DET
cjal-3260	294	36	tactic	tactic	NOUN
cjal-3260	294	37	that	that	PRON
cjal-3260	294	38	does	do	AUX
cjal-3260	294	39	not	not	PART
cjal-3260	294	40	require	require	VERB
cjal-3260	294	41	approval	approval	NOUN
cjal-3260	294	42	.	.	PUNCT
cjal-3260	295	1	,70	,70	PUNCT
cjal-3260	295	2	however	however	ADV
cjal-3260	295	3	,	,	PUNCT
cjal-3260	295	4	the	the	DET
cjal-3260	295	5	market	market	NOUN
cjal-3260	295	6	environment	environment	NOUN
cjal-3260	295	7	and	and	CCONJ
cjal-3260	295	8	the	the	DET
cjal-3260	295	9	need	need	NOUN
cjal-3260	295	10	for	for	ADP
cjal-3260	295	11	general	general	ADJ
cjal-3260	295	12	shareholder	shareholder	NOUN
cjal-3260	295	13	support	support	NOUN
cjal-3260	295	14	have	have	AUX
cjal-3260	295	15	changed	change	VERB
cjal-3260	295	16	significantly	significantly	ADV
cjal-3260	295	17	from	from	ADP
cjal-3260	295	18	the	the	DET
cjal-3260	295	19	1980s	1980	NOUN
cjal-3260	295	20	to	to	ADP
cjal-3260	295	21	the	the	DET
cjal-3260	295	22	early	early	ADJ
cjal-3260	295	23	twenty	twenty	NUM
cjal-3260	295	24	first	first	ADJ
cjal-3260	295	25	century	century	NOUN
cjal-3260	295	26	.	.	PUNCT
cjal-3260	296	1	the	the	DET
cjal-3260	296	2	age	age	NOUN
cjal-3260	296	3	of	of	ADP
cjal-3260	296	4	protected	protect	VERB
cjal-3260	296	5	executive	executive	ADJ
cjal-3260	296	6	management	management	NOUN
cjal-3260	296	7	at	at	ADP
cjal-3260	296	8	large	large	ADJ
cjal-3260	296	9	american	american	ADJ
cjal-3260	296	10	firms	firm	NOUN
cjal-3260	296	11	certainly	certainly	ADV
cjal-3260	296	12	is	be	AUX
cjal-3260	296	13	threatened	threaten	VERB
cjal-3260	296	14	by	by	ADP
cjal-3260	296	15	calls	call	NOUN
cjal-3260	296	16	for	for	ADP
cjal-3260	296	17	a	a	DET
cjal-3260	296	18	more	more	ADV
cjal-3260	296	19	direct	direct	ADJ
cjal-3260	296	20	democracy	democracy	NOUN
cjal-3260	296	21	for	for	ADP
cjal-3260	296	22	shareholders	shareholder	NOUN
cjal-3260	296	23	.	.	PUNCT
cjal-3260	297	1	71	71	NUM
cjal-3260	297	2	at	at	ADV
cjal-3260	297	3	least	least	ADV
cjal-3260	297	4	one	one	NUM
cjal-3260	297	5	other	other	ADJ
cjal-3260	297	6	jurisdiction	jurisdiction	NOUN
cjal-3260	297	7	has	have	AUX
cjal-3260	297	8	carefully	carefully	ADV
cjal-3260	297	9	studied	study	VERB
cjal-3260	297	10	the	the	DET
cjal-3260	297	11	american	american	ADJ
cjal-3260	297	12	experience	experience	NOUN
cjal-3260	297	13	with	with	ADP
cjal-3260	297	14	poison	poison	NOUN
cjal-3260	297	15	pills	pill	NOUN
cjal-3260	297	16	and	and	CCONJ
cjal-3260	297	17	chosen	choose	VERB
cjal-3260	297	18	to	to	PART
cjal-3260	297	19	adopt	adopt	VERB
cjal-3260	297	20	the	the	DET
cjal-3260	297	21	pill	pill	NOUN
cjal-3260	297	22	,	,	PUNCT
cjal-3260	297	23	but	but	CCONJ
cjal-3260	297	24	in	in	ADP
cjal-3260	297	25	a	a	DET
cjal-3260	297	26	next	next	ADJ
cjal-3260	297	27	-	-	PUNCT
cjal-3260	297	28	generation	generation	NOUN
cjal-3260	297	29	formulation	formulation	NOUN
cjal-3260	297	30	:	:	PUNCT
cjal-3260	297	31	japan	japan	PROPN
cjal-3260	297	32	.	.	PUNCT
cjal-3260	298	1	d.	d.	PROPN
cjal-3260	298	2	from	from	ADP
cjal-3260	298	3	japan	japan	PROPN
cjal-3260	298	4	:	:	PUNCT
cjal-3260	298	5	experimental	experimental	ADJ
cjal-3260	298	6	transplant	transplant	NOUN
cjal-3260	298	7	procedure	procedure	NOUN
cjal-3260	298	8	a	a	DET
cjal-3260	298	9	fascinating	fascinating	ADJ
cjal-3260	298	10	and	and	CCONJ
cjal-3260	298	11	as	as	ADV
cjal-3260	298	12	yet	yet	ADV
cjal-3260	298	13	little	little	ADJ
cjal-3260	298	14	understood	understand	VERB
cjal-3260	298	15	phenomenon	phenomenon	NOUN
cjal-3260	298	16	is	be	AUX
cjal-3260	298	17	occurring	occur	VERB
cjal-3260	298	18	with	with	ADP
cjal-3260	298	19	increasingly	increasingly	ADV
cjal-3260	298	20	connected	connect	VERB
cjal-3260	298	21	financial	financial	ADJ
cjal-3260	298	22	and	and	CCONJ
cjal-3260	298	23	legal	legal	ADJ
cjal-3260	298	24	markets	market	NOUN
cjal-3260	298	25	:	:	PUNCT
cjal-3260	298	26	transplants	transplant	NOUN
cjal-3260	298	27	of	of	ADP
cjal-3260	298	28	financial	financial	ADJ
cjal-3260	298	29	and	and	CCONJ
cjal-3260	298	30	legal	legal	ADJ
cjal-3260	298	31	technology	technology	NOUN
cjal-3260	298	32	from	from	ADP
cjal-3260	298	33	one	one	NUM
cjal-3260	298	34	jurisdiction	jurisdiction	NOUN
cjal-3260	298	35	to	to	ADP
cjal-3260	298	36	another	another	PRON
cjal-3260	298	37	.	.	PUNCT
cjal-3260	299	1	commentators	commentator	NOUN
cjal-3260	299	2	are	be	AUX
cjal-3260	299	3	careful	careful	ADJ
cjal-3260	299	4	to	to	PART
cjal-3260	299	5	point	point	VERB
cjal-3260	299	6	out	out	ADP
cjal-3260	299	7	that	that	SCONJ
cjal-3260	299	8	a	a	DET
cjal-3260	299	9	transplanted	transplanted	ADJ
cjal-3260	299	10	technique	technique	NOUN
cjal-3260	299	11	's	's	PART
cjal-3260	299	12	fate	fate	NOUN
cjal-3260	299	13	is	be	AUX
cjal-3260	299	14	unpredictable	unpredictable	ADJ
cjal-3260	299	15	in	in	ADP
cjal-3260	299	16	new	new	ADJ
cjal-3260	299	17	environments	environment	NOUN
cjal-3260	299	18	,	,	PUNCT
cjal-3260	299	19	and	and	CCONJ
cjal-3260	299	20	the	the	DET
cjal-3260	299	21	technique	technique	NOUN
cjal-3260	299	22	itself	itself	PRON
cjal-3260	299	23	is	be	AUX
cjal-3260	299	24	likely	likely	ADJ
cjal-3260	299	25	to	to	PART
cjal-3260	299	26	change	change	VERB
cjal-3260	299	27	significantly	significantly	ADV
cjal-3260	299	28	by	by	ADP
cjal-3260	299	29	being	be	AUX
cjal-3260	299	30	introduced	introduce	VERB
cjal-3260	299	31	into	into	ADP
cjal-3260	299	32	the	the	DET
cjal-3260	299	33	new	new	ADJ
cjal-3260	299	34	setting	setting	NOUN
cjal-3260	299	35	.	.	PUNCT
cjal-3260	300	1	72	72	NUM
cjal-3260	300	2	with	with	ADP
cjal-3260	300	3	these	these	DET
cjal-3260	300	4	warnings	warning	NOUN
cjal-3260	300	5	and	and	CCONJ
cjal-3260	300	6	disclaimers	disclaimer	NOUN
cjal-3260	300	7	provided	provide	VERB
cjal-3260	300	8	,	,	PUNCT
cjal-3260	300	9	it	it	PRON
cjal-3260	300	10	remains	remain	VERB
cjal-3260	300	11	possible	possible	ADJ
cjal-3260	300	12	that	that	SCONJ
cjal-3260	300	13	japanese	japanese	PROPN
cjal-3260	300	14	and	and	CCONJ
cjal-3260	300	15	other	other	ADJ
cjal-3260	300	16	east	east	ADJ
cjal-3260	300	17	asian	asian	ADJ
cjal-3260	300	18	markets	market	NOUN
cjal-3260	300	19	may	may	AUX
cjal-3260	300	20	incorporate	incorporate	VERB
cjal-3260	300	21	these	these	DET
cjal-3260	300	22	techniques	technique	NOUN
cjal-3260	300	23	into	into	ADP
cjal-3260	300	24	their	their	PRON
cjal-3260	300	25	own	own	ADJ
cjal-3260	300	26	structures	structure	NOUN
cjal-3260	300	27	of	of	ADP
cjal-3260	300	28	corporate	corporate	ADJ
cjal-3260	300	29	governance	governance	NOUN
cjal-3260	300	30	,	,	PUNCT
cjal-3260	300	31	while	while	SCONJ
cjal-3260	300	32	learning	learn	VERB
cjal-3260	300	33	from	from	ADP
cjal-3260	300	34	the	the	DET
cjal-3260	300	35	mistakes	mistake	NOUN
cjal-3260	300	36	made	make	VERB
cjal-3260	300	37	on	on	ADP
cjal-3260	300	38	the	the	DET
cjal-3260	300	39	other	other	ADJ
cjal-3260	300	40	side	side	NOUN
cjal-3260	300	41	of	of	ADP
cjal-3260	300	42	the	the	DET
cjal-3260	300	43	world	world	NOUN
cjal-3260	300	44	in	in	ADP
cjal-3260	300	45	decades	decade	NOUN
cjal-3260	300	46	past	past	NOUN
cjal-3260	300	47	.	.	PUNCT
cjal-3260	301	1	certainly	certainly	ADV
cjal-3260	301	2	,	,	PUNCT
cjal-3260	301	3	the	the	DET
cjal-3260	301	4	unique	unique	ADJ
cjal-3260	301	5	legal	legal	ADJ
cjal-3260	301	6	infrastructure	infrastructure	NOUN
cjal-3260	301	7	and	and	CCONJ
cjal-3260	301	8	institutions	institution	NOUN
cjal-3260	301	9	of	of	ADP
cjal-3260	301	10	capital	capital	NOUN
cjal-3260	301	11	markets	market	NOUN
cjal-3260	301	12	in	in	ADP
cjal-3260	301	13	a	a	DET
cjal-3260	301	14	particular	particular	ADJ
cjal-3260	301	15	adopting	adopting	NOUN
cjal-3260	301	16	nation	nation	NOUN
cjal-3260	301	17	may	may	AUX
cjal-3260	301	18	alter	alter	VERB
cjal-3260	301	19	the	the	DET
cjal-3260	301	20	performance	performance	NOUN
cjal-3260	301	21	of	of	ADP
cjal-3260	301	22	the	the	DET
cjal-3260	301	23	new	new	ADJ
cjal-3260	301	24	"	"	PUNCT
cjal-3260	301	25	technology	technology	NOUN
cjal-3260	301	26	,	,	PUNCT
cjal-3260	301	27	"	"	PUNCT
cjal-3260	301	28	and	and	CCONJ
cjal-3260	301	29	the	the	DET
cjal-3260	301	30	infrastructure	infrastructure	NOUN
cjal-3260	301	31	may	may	AUX
cjal-3260	301	32	need	need	VERB
cjal-3260	301	33	updating	update	VERB
cjal-3260	301	34	to	to	ADP
cjal-3260	301	35	69	69	NUM
cjal-3260	301	36	i	i	PROPN
cjal-3260	301	37	d.	d.	PROPN
cjal-3260	301	38	70	70	NUM
cjal-3260	301	39	gilson	gilson	PROPN
cjal-3260	301	40	&	&	CCONJ
cjal-3260	301	41	black	black	PROPN
cjal-3260	301	42	,	,	PUNCT
cjal-3260	301	43	supra	supra	PROPN
cjal-3260	301	44	note	note	NOUN
cjal-3260	301	45	35	35	NUM
cjal-3260	301	46	,	,	PUNCT
cjal-3260	301	47	at	at	ADP
cjal-3260	301	48	748	748	NUM
cjal-3260	301	49	.	.	PUNCT
cjal-3260	302	1	71	71	NUM
cjal-3260	302	2	evidence	evidence	NOUN
cjal-3260	302	3	of	of	ADP
cjal-3260	302	4	significant	significant	ADJ
cjal-3260	302	5	shareholder	shareholder	NOUN
cjal-3260	302	6	empowerment	empowerment	NOUN
cjal-3260	302	7	in	in	ADP
cjal-3260	302	8	a	a	DET
cjal-3260	302	9	more	more	ADV
cjal-3260	302	10	direct	direct	ADJ
cjal-3260	302	11	democracy	democracy	NOUN
cjal-3260	302	12	,	,	PUNCT
cjal-3260	302	13	itself	itself	PRON
cjal-3260	302	14	reflecting	reflect	VERB
cjal-3260	302	15	suspicion	suspicion	NOUN
cjal-3260	302	16	of	of	ADP
cjal-3260	302	17	board	board	NOUN
cjal-3260	302	18	motives	motive	NOUN
cjal-3260	302	19	and	and	CCONJ
cjal-3260	302	20	insider	insider	NOUN
cjal-3260	302	21	control	control	NOUN
cjal-3260	302	22	,	,	PUNCT
cjal-3260	302	23	includes	include	VERB
cjal-3260	302	24	the	the	DET
cjal-3260	302	25	securities	securities	PROPN
cjal-3260	302	26	and	and	CCONJ
cjal-3260	302	27	exchange	exchange	PROPN
cjal-3260	302	28	commission	commission	PROPN
cjal-3260	302	29	's	's	PART
cjal-3260	302	30	new	new	ADJ
cjal-3260	302	31	and	and	CCONJ
cjal-3260	302	32	comprehensive	comprehensive	ADJ
cjal-3260	302	33	disclosure	disclosure	NOUN
cjal-3260	302	34	rules	rule	NOUN
cjal-3260	302	35	for	for	ADP
cjal-3260	302	36	executive	executive	ADJ
cjal-3260	302	37	compensation	compensation	NOUN
cjal-3260	302	38	,	,	PUNCT
cjal-3260	302	39	the	the	DET
cjal-3260	302	40	debate	debate	NOUN
cjal-3260	302	41	over	over	ADP
cjal-3260	302	42	shareholder	shareholder	NOUN
cjal-3260	302	43	access	access	NOUN
cjal-3260	302	44	to	to	ADP
cjal-3260	302	45	the	the	DET
cjal-3260	302	46	company	company	NOUN
cjal-3260	302	47	's	's	PART
cjal-3260	302	48	proxy	proxy	ADJ
cjal-3260	302	49	ballot	ballot	NOUN
cjal-3260	302	50	,	,	PUNCT
cjal-3260	302	51	majority	majority	NOUN
cjal-3260	302	52	approval	approval	NOUN
cjal-3260	302	53	requirements	requirement	NOUN
cjal-3260	302	54	to	to	PART
cjal-3260	302	55	elect	elect	VERB
cjal-3260	302	56	directors	director	NOUN
cjal-3260	302	57	,	,	PUNCT
cjal-3260	302	58	institutional	institutional	ADJ
cjal-3260	302	59	shareholders	shareholder	NOUN
cjal-3260	302	60	'	'	PART
cjal-3260	302	61	proposals	proposal	NOUN
cjal-3260	302	62	to	to	PART
cjal-3260	302	63	withhold	withhold	VERB
cjal-3260	302	64	the	the	DET
cjal-3260	302	65	required	require	VERB
cjal-3260	302	66	approvals	approval	NOUN
cjal-3260	302	67	from	from	ADP
cjal-3260	302	68	directors	director	NOUN
cjal-3260	302	69	who	who	PRON
cjal-3260	302	70	refuse	refuse	VERB
cjal-3260	302	71	to	to	PART
cjal-3260	302	72	limit	limit	VERB
cjal-3260	302	73	or	or	CCONJ
cjal-3260	302	74	remove	remove	VERB
cjal-3260	302	75	poison	poison	NOUN
cjal-3260	302	76	pills	pill	NOUN
cjal-3260	302	77	,	,	PUNCT
cjal-3260	302	78	and	and	CCONJ
cjal-3260	302	79	even	even	ADV
cjal-3260	302	80	proposals	proposal	NOUN
cjal-3260	302	81	from	from	ADP
cjal-3260	302	82	shareholder	shareholder	NOUN
cjal-3260	302	83	democracy	democracy	NOUN
cjal-3260	302	84	advocates	advocate	VERB
cjal-3260	302	85	such	such	ADJ
cjal-3260	302	86	as	as	ADP
cjal-3260	302	87	professor	professor	PROPN
cjal-3260	302	88	bebchuk	bebchuk	NOUN
cjal-3260	302	89	to	to	ADP
cjal-3260	302	90	un	un	ADJ
cjal-3260	302	91	-	-	ADJ
cjal-3260	302	92	stagger	stagger	ADJ
cjal-3260	302	93	boards	board	NOUN
cjal-3260	302	94	or	or	CCONJ
cjal-3260	302	95	subject	subject	VERB
cjal-3260	302	96	the	the	DET
cjal-3260	302	97	full	full	ADJ
cjal-3260	302	98	board	board	NOUN
cjal-3260	302	99	periodically	periodically	ADV
cjal-3260	302	100	to	to	ADP
cjal-3260	302	101	a	a	DET
cjal-3260	302	102	shareholder	shareholder	NOUN
cjal-3260	302	103	confidence	confidence	NOUN
cjal-3260	302	104	vote	vote	NOUN
cjal-3260	302	105	.	.	PUNCT
cjal-3260	303	1	see	see	VERB
cjal-3260	303	2	bebchuk	bebchuk	PROPN
cjal-3260	303	3	,	,	PUNCT
cjal-3260	303	4	supra	supra	PROPN
cjal-3260	303	5	note	note	NOUN
cjal-3260	303	6	3	3	NUM
cjal-3260	303	7	.	.	NOUN
cjal-3260	303	8	72	72	NUM
cjal-3260	304	1	"	"	PUNCT
cjal-3260	304	2	despite	despite	SCONJ
cjal-3260	304	3	the	the	DET
cjal-3260	304	4	importance	importance	NOUN
cjal-3260	304	5	of	of	ADP
cjal-3260	304	6	transplants	transplant	NOUN
cjal-3260	304	7	to	to	ADP
cjal-3260	304	8	legal	legal	ADJ
cjal-3260	304	9	development	development	NOUN
cjal-3260	304	10	around	around	ADP
cjal-3260	304	11	the	the	DET
cjal-3260	304	12	world	world	NOUN
cjal-3260	304	13	,	,	PUNCT
cjal-3260	304	14	scholarly	scholarly	ADJ
cjal-3260	304	15	understanding	understanding	NOUN
cjal-3260	304	16	of	of	ADP
cjal-3260	304	17	this	this	DET
cjal-3260	304	18	ubiquitous	ubiquitous	ADJ
cjal-3260	304	19	form	form	NOUN
cjal-3260	304	20	of	of	ADP
cjal-3260	304	21	legal	legal	ADJ
cjal-3260	304	22	development	development	NOUN
cjal-3260	304	23	is	be	AUX
cjal-3260	304	24	still	still	ADV
cjal-3260	304	25	fairly	fairly	ADV
cjal-3260	304	26	rudimentary	rudimentary	ADJ
cjal-3260	304	27	.	.	PUNCT
cjal-3260	304	28	.	.	PUNCT
cjal-3260	304	29	.	.	PUNCT
cjal-3260	305	1	.	.	PUNCT
cjal-3260	306	1	for	for	ADP
cjal-3260	306	2	example	example	NOUN
cjal-3260	306	3	,	,	PUNCT
cjal-3260	306	4	there	there	PRON
cjal-3260	306	5	is	be	VERB
cjal-3260	306	6	little	little	ADJ
cjal-3260	306	7	agreement	agreement	NOUN
cjal-3260	306	8	among	among	ADP
cjal-3260	306	9	scholars	scholar	NOUN
cjal-3260	306	10	on	on	ADP
cjal-3260	306	11	transplant	transplant	NOUN
cjal-3260	306	12	feasibility	feasibility	NOUN
cjal-3260	306	13	and	and	CCONJ
cjal-3260	306	14	the	the	DET
cjal-3260	306	15	conditions	condition	NOUN
cjal-3260	306	16	for	for	ADP
cjal-3260	306	17	successful	successful	ADJ
cjal-3260	306	18	transplants	transplant	NOUN
cjal-3260	306	19	,	,	PUNCT
cjal-3260	306	20	or	or	CCONJ
cjal-3260	306	21	even	even	ADV
cjal-3260	306	22	how	how	SCONJ
cjal-3260	306	23	to	to	PART
cjal-3260	306	24	define	define	VERB
cjal-3260	306	25	'	'	PUNCT
cjal-3260	306	26	success	success	NOUN
cjal-3260	306	27	.	.	PUNCT
cjal-3260	306	28	'	'	PUNCT
cjal-3260	307	1	moreover	moreover	ADV
cjal-3260	307	2	,	,	PUNCT
cjal-3260	307	3	there	there	PRON
cjal-3260	307	4	is	be	VERB
cjal-3260	307	5	little	little	ADJ
cjal-3260	307	6	analysis	analysis	NOUN
cjal-3260	307	7	of	of	ADP
cjal-3260	307	8	how	how	SCONJ
cjal-3260	307	9	the	the	DET
cjal-3260	307	10	success	success	NOUN
cjal-3260	307	11	or	or	CCONJ
cjal-3260	307	12	failure	failure	NOUN
cjal-3260	307	13	of	of	ADP
cjal-3260	307	14	legal	legal	ADJ
cjal-3260	307	15	transplants	transplant	NOUN
cjal-3260	307	16	relates	relate	VERB
cjal-3260	307	17	to	to	ADP
cjal-3260	307	18	the	the	DET
cjal-3260	307	19	achievement	achievement	NOUN
cjal-3260	307	20	of	of	ADP
cjal-3260	307	21	larger	large	ADJ
cjal-3260	307	22	goals	goal	NOUN
cjal-3260	307	23	,	,	PUNCT
cjal-3260	307	24	such	such	ADJ
cjal-3260	307	25	as	as	ADP
cjal-3260	307	26	economic	economic	ADJ
cjal-3260	307	27	development	development	NOUN
cjal-3260	307	28	.	.	PUNCT
cjal-3260	307	29	"	"	PUNCT
cjal-3260	308	1	hideki	hideki	PROPN
cjal-3260	308	2	kanda	kanda	PROPN
cjal-3260	308	3	&	&	CCONJ
cjal-3260	308	4	curtis	curtis	PROPN
cjal-3260	308	5	j.	j.	PROPN
cjal-3260	308	6	milhaupt	milhaupt	PROPN
cjal-3260	308	7	,	,	PUNCT
cjal-3260	308	8	reexamining	reexamine	VERB
cjal-3260	308	9	legal	legal	ADJ
cjal-3260	308	10	transplants	transplant	NOUN
cjal-3260	308	11	:	:	PUNCT
cjal-3260	308	12	the	the	DET
cjal-3260	308	13	director	director	NOUN
cjal-3260	308	14	's	's	PART
cjal-3260	308	15	fiduciary	fiduciary	ADJ
cjal-3260	308	16	duty	duty	NOUN
cjal-3260	308	17	in	in	ADP
cjal-3260	308	18	japanese	japanese	ADJ
cjal-3260	308	19	corporate	corporate	ADJ
cjal-3260	308	20	law	law	NOUN
cjal-3260	308	21	,	,	PUNCT
cjal-3260	308	22	51	51	NUM
cjal-3260	308	23	am	am	NOUN
cjal-3260	308	24	.	.	PUNCT
cjal-3260	309	1	j.	j.	PROPN
cjal-3260	309	2	comp	comp	PROPN
cjal-3260	309	3	.	.	PUNCT
cjal-3260	310	1	l.	l.	PROPN
cjal-3260	310	2	887	887	NUM
cjal-3260	310	3	,	,	PUNCT
cjal-3260	310	4	887	887	NUM
cjal-3260	310	5	(	(	PUNCT
cjal-3260	310	6	2003	2003	NUM
cjal-3260	310	7	)	)	PUNCT
cjal-3260	310	8	.	.	PUNCT
cjal-3260	311	1	2007	2007	NUM
cjal-3260	311	2	]	]	PUNCT
cjal-3260	311	3	columbia	columbia	PROPN
cjal-3260	311	4	journal	journal	PROPN
cjal-3260	311	5	ofasianlaw	ofasianlaw	PROPN
cjal-3260	311	6	accommodate	accommodate	VERB
cjal-3260	311	7	it	it	PRON
cjal-3260	311	8	.	.	PUNCT
cjal-3260	312	1	this	this	DET
cjal-3260	312	2	concern	concern	NOUN
cjal-3260	312	3	regarding	regard	VERB
cjal-3260	312	4	transplantation	transplantation	NOUN
cjal-3260	312	5	is	be	AUX
cjal-3260	312	6	unlikely	unlikely	ADJ
cjal-3260	312	7	to	to	PART
cjal-3260	312	8	overwhelm	overwhelm	VERB
cjal-3260	312	9	policymakers	policymaker	NOUN
cjal-3260	312	10	who	who	PRON
cjal-3260	312	11	are	be	AUX
cjal-3260	312	12	interested	interested	ADJ
cjal-3260	312	13	in	in	ADP
cjal-3260	312	14	the	the	DET
cjal-3260	312	15	potential	potential	ADJ
cjal-3260	312	16	benefits	benefit	NOUN
cjal-3260	312	17	of	of	ADP
cjal-3260	312	18	new	new	ADJ
cjal-3260	312	19	defensive	defensive	ADJ
cjal-3260	312	20	measures	measure	NOUN
cjal-3260	312	21	for	for	ADP
cjal-3260	312	22	companies	company	NOUN
cjal-3260	312	23	in	in	ADP
cjal-3260	312	24	their	their	PRON
cjal-3260	312	25	jurisdictions	jurisdiction	NOUN
cjal-3260	312	26	.	.	PUNCT
cjal-3260	313	1	because	because	SCONJ
cjal-3260	313	2	many	many	ADJ
cjal-3260	313	3	jurisdictions	jurisdiction	NOUN
cjal-3260	313	4	require	require	VERB
cjal-3260	313	5	enabling	enable	VERB
cjal-3260	313	6	legislation	legislation	NOUN
cjal-3260	313	7	to	to	PART
cjal-3260	313	8	legalize	legalize	VERB
cjal-3260	313	9	adoption	adoption	NOUN
cjal-3260	313	10	of	of	ADP
cjal-3260	313	11	poison	poison	NOUN
cjal-3260	313	12	pills	pill	NOUN
cjal-3260	313	13	,	,	PUNCT
cjal-3260	313	14	staggered	staggered	ADJ
cjal-3260	313	15	boards	board	NOUN
cjal-3260	313	16	or	or	CCONJ
cjal-3260	313	17	dual	dual	ADJ
cjal-3260	313	18	class	class	NOUN
cjal-3260	313	19	shares	share	NOUN
cjal-3260	313	20	,	,	PUNCT
cjal-3260	313	21	lawmakers	lawmaker	NOUN
cjal-3260	313	22	can	can	AUX
cjal-3260	313	23	study	study	VERB
cjal-3260	313	24	the	the	DET
cjal-3260	313	25	recent	recent	ADJ
cjal-3260	313	26	history	history	NOUN
cjal-3260	313	27	of	of	ADP
cjal-3260	313	28	nations	nation	NOUN
cjal-3260	313	29	where	where	SCONJ
cjal-3260	313	30	these	these	DET
cjal-3260	313	31	devices	device	NOUN
cjal-3260	313	32	have	have	AUX
cjal-3260	313	33	been	be	AUX
cjal-3260	313	34	in	in	ADP
cjal-3260	313	35	place	place	NOUN
cjal-3260	313	36	for	for	ADP
cjal-3260	313	37	years	year	NOUN
cjal-3260	313	38	,	,	PUNCT
cjal-3260	313	39	and	and	CCONJ
cjal-3260	313	40	develop	develop	VERB
cjal-3260	313	41	a	a	DET
cjal-3260	313	42	coherent	coherent	ADJ
cjal-3260	313	43	policy	policy	NOUN
cjal-3260	313	44	before	before	SCONJ
cjal-3260	313	45	the	the	DET
cjal-3260	313	46	devices	device	NOUN
cjal-3260	313	47	are	be	AUX
cjal-3260	313	48	introduced	introduce	VERB
cjal-3260	313	49	into	into	ADP
cjal-3260	313	50	their	their	PRON
cjal-3260	313	51	markets	market	NOUN
cjal-3260	313	52	.	.	PUNCT
cjal-3260	314	1	regarding	regard	VERB
cjal-3260	314	2	poison	poison	NOUN
cjal-3260	314	3	pills	pill	NOUN
cjal-3260	314	4	,	,	PUNCT
cjal-3260	314	5	a	a	DET
cjal-3260	314	6	shareholder	shareholder	NOUN
cjal-3260	314	7	approval	approval	NOUN
cjal-3260	314	8	requirement	requirement	NOUN
cjal-3260	314	9	is	be	AUX
cjal-3260	314	10	the	the	DET
cjal-3260	314	11	first	first	ADJ
cjal-3260	314	12	,	,	PUNCT
cjal-3260	314	13	most	most	ADV
cjal-3260	314	14	obvious	obvious	ADJ
cjal-3260	314	15	next	next	ADJ
cjal-3260	314	16	-	-	PUNCT
cjal-3260	314	17	generation	generation	NOUN
cjal-3260	314	18	feature	feature	NOUN
cjal-3260	314	19	that	that	PRON
cjal-3260	314	20	would	would	AUX
cjal-3260	314	21	eliminate	eliminate	VERB
cjal-3260	314	22	or	or	CCONJ
cjal-3260	314	23	reduce	reduce	VERB
cjal-3260	314	24	conflicts	conflict	NOUN
cjal-3260	314	25	between	between	ADP
cjal-3260	314	26	the	the	DET
cjal-3260	314	27	principal	principal	ADJ
cjal-3260	314	28	shareholder	shareholder	NOUN
cjal-3260	314	29	and	and	CCONJ
cjal-3260	314	30	the	the	DET
cjal-3260	314	31	agent	agent	NOUN
cjal-3260	314	32	director	director	NOUN
cjal-3260	314	33	.	.	PUNCT
cjal-3260	315	1	east	east	PROPN
cjal-3260	315	2	asian	asian	PROPN
cjal-3260	315	3	nations	nation	NOUN
cjal-3260	315	4	may	may	AUX
cjal-3260	315	5	be	be	AUX
cjal-3260	315	6	informed	inform	VERB
cjal-3260	315	7	by	by	ADP
cjal-3260	315	8	the	the	DET
cjal-3260	315	9	u.s	u.s	PROPN
cjal-3260	315	10	.	.	PROPN
cjal-3260	315	11	experience	experience	NOUN
cjal-3260	315	12	,	,	PUNCT
cjal-3260	315	13	with	with	ADP
cjal-3260	315	14	institutional	institutional	ADJ
cjal-3260	315	15	shareholders	shareholder	NOUN
cjal-3260	315	16	now	now	ADV
cjal-3260	315	17	designing	design	VERB
cjal-3260	315	18	plans	plan	NOUN
cjal-3260	315	19	to	to	PART
cjal-3260	315	20	force	force	VERB
cjal-3260	315	21	companies	company	NOUN
cjal-3260	315	22	by	by	ADP
cjal-3260	315	23	indirect	indirect	ADJ
cjal-3260	315	24	means	mean	NOUN
cjal-3260	315	25	to	to	PART
cjal-3260	315	26	limit	limit	VERB
cjal-3260	315	27	their	their	PRON
cjal-3260	315	28	use	use	NOUN
cjal-3260	315	29	of	of	ADP
cjal-3260	315	30	pills	pill	NOUN
cjal-3260	315	31	an	an	DET
cjal-3260	315	32	inefficient	inefficient	ADJ
cjal-3260	315	33	avenue	avenue	NOUN
cjal-3260	315	34	pursued	pursue	VERB
cjal-3260	315	35	where	where	SCONJ
cjal-3260	315	36	a	a	DET
cjal-3260	315	37	direct	direct	ADJ
cjal-3260	315	38	vote	vote	NOUN
cjal-3260	315	39	was	be	AUX
cjal-3260	315	40	not	not	PART
cjal-3260	315	41	available	available	ADJ
cjal-3260	315	42	.	.	PUNCT
cjal-3260	316	1	nevertheless	nevertheless	ADV
cjal-3260	316	2	,	,	PUNCT
cjal-3260	316	3	recent	recent	ADJ
cjal-3260	316	4	commercial	commercial	ADJ
cjal-3260	316	5	code	code	NOUN
cjal-3260	316	6	amendments	amendment	NOUN
cjal-3260	316	7	in	in	ADP
cjal-3260	316	8	japan	japan	PROPN
cjal-3260	316	9	making	make	VERB
cjal-3260	316	10	the	the	DET
cjal-3260	316	11	shareholder	shareholder	NOUN
cjal-3260	316	12	rights	right	NOUN
cjal-3260	316	13	plan	plan	NOUN
cjal-3260	316	14	technically	technically	ADV
cjal-3260	316	15	feasible	feasible	ADJ
cjal-3260	316	16	for	for	ADP
cjal-3260	316	17	japanese	japanese	ADJ
cjal-3260	316	18	firms	firm	NOUN
cjal-3260	316	19	in	in	ADP
cjal-3260	316	20	most	most	ADJ
cjal-3260	316	21	cases	case	NOUN
cjal-3260	316	22	do	do	AUX
cjal-3260	316	23	not	not	PART
cjal-3260	316	24	require	require	VERB
cjal-3260	316	25	shareholder	shareholder	NOUN
cjal-3260	316	26	approval.73	approval.73	SCONJ
cjal-3260	316	27	the	the	DET
cjal-3260	316	28	japanese	japanese	ADJ
cjal-3260	316	29	commercial	commercial	PROPN
cjal-3260	316	30	code	code	PROPN
cjal-3260	316	31	's	's	PART
cjal-3260	316	32	poison	poison	NOUN
cjal-3260	316	33	pill	pill	NOUN
cjal-3260	316	34	may	may	AUX
cjal-3260	316	35	represent	represent	VERB
cjal-3260	316	36	a	a	DET
cjal-3260	316	37	missed	miss	VERB
cjal-3260	316	38	opportunity	opportunity	NOUN
cjal-3260	316	39	to	to	PART
cjal-3260	316	40	begin	begin	VERB
cjal-3260	316	41	with	with	ADP
cjal-3260	316	42	a	a	DET
cjal-3260	316	43	better	well	ADJ
cjal-3260	316	44	,	,	PUNCT
cjal-3260	316	45	shareholder	shareholder	NOUN
cjal-3260	316	46	-	-	PUNCT
cjal-3260	316	47	legitimized	legitimize	VERB
cjal-3260	316	48	pill	pill	NOUN
cjal-3260	316	49	,	,	PUNCT
cjal-3260	316	50	and	and	CCONJ
cjal-3260	316	51	likely	likely	ADV
cjal-3260	316	52	reflects	reflect	VERB
cjal-3260	316	53	a	a	DET
cjal-3260	316	54	certain	certain	ADJ
cjal-3260	316	55	degree	degree	NOUN
cjal-3260	316	56	of	of	ADP
cjal-3260	316	57	regulatory	regulatory	ADJ
cjal-3260	316	58	capture	capture	NOUN
cjal-3260	316	59	.	.	PUNCT
cjal-3260	317	1	in	in	ADP
cjal-3260	317	2	response	response	NOUN
cjal-3260	317	3	to	to	ADP
cjal-3260	317	4	takeover	takeover	NOUN
cjal-3260	317	5	activity	activity	NOUN
cjal-3260	317	6	in	in	ADP
cjal-3260	317	7	japan	japan	PROPN
cjal-3260	317	8	's	's	PART
cjal-3260	317	9	newly	newly	ADV
cjal-3260	317	10	-	-	PUNCT
cjal-3260	317	11	energized	energized	ADJ
cjal-3260	317	12	market	market	NOUN
cjal-3260	317	13	for	for	ADP
cjal-3260	317	14	corporate	corporate	ADJ
cjal-3260	317	15	control	control	NOUN
cjal-3260	317	16	,	,	PUNCT
cjal-3260	317	17	"	"	PUNCT
cjal-3260	317	18	[	[	X
cjal-3260	317	19	v]irtually	v]irtually	ADV
cjal-3260	317	20	every	every	DET
cjal-3260	317	21	major	major	ADJ
cjal-3260	317	22	actor	actor	NOUN
cjal-3260	317	23	in	in	ADP
cjal-3260	317	24	the	the	DET
cjal-3260	317	25	japanese	japanese	ADJ
cjal-3260	317	26	political	political	ADJ
cjal-3260	317	27	economy	economy	NOUN
cjal-3260	317	28	has	have	AUX
cjal-3260	317	29	mobilized	mobilize	VERB
cjal-3260	317	30	to	to	PART
cjal-3260	317	31	respond	respond	VERB
cjal-3260	317	32	to	to	ADP
cjal-3260	317	33	the	the	DET
cjal-3260	317	34	new	new	ADJ
cjal-3260	317	35	development	development	NOUN
cjal-3260	317	36	.	.	PUNCT
cjal-3260	318	1	,	,	PUNCT
cjal-3260	318	2	7	7	NUM
cjal-3260	318	3	4	4	NUM
cjal-3260	318	4	the	the	DET
cjal-3260	318	5	ministry	ministry	PROPN
cjal-3260	318	6	of	of	ADP
cjal-3260	318	7	economy	economy	NOUN
cjal-3260	318	8	,	,	PUNCT
cjal-3260	318	9	trade	trade	NOUN
cjal-3260	318	10	and	and	CCONJ
cjal-3260	318	11	industry	industry	NOUN
cjal-3260	318	12	(	(	PUNCT
cjal-3260	318	13	meti	meti	X
cjal-3260	318	14	)	)	PUNCT
cjal-3260	318	15	and	and	CCONJ
cjal-3260	318	16	the	the	DET
cjal-3260	318	17	ministry	ministry	PROPN
cjal-3260	318	18	of	of	ADP
cjal-3260	318	19	justice	justice	PROPN
cjal-3260	318	20	(	(	PUNCT
cjal-3260	318	21	moj	moj	PROPN
cjal-3260	318	22	)	)	PUNCT
cjal-3260	318	23	formed	form	VERB
cjal-3260	318	24	the	the	DET
cjal-3260	318	25	corporate	corporate	ADJ
cjal-3260	318	26	value	value	NOUN
cjal-3260	318	27	study	study	NOUN
cjal-3260	318	28	group	group	NOUN
cjal-3260	318	29	,	,	PUNCT
cjal-3260	318	30	a	a	DET
cjal-3260	318	31	task	task	NOUN
cjal-3260	318	32	force	force	NOUN
cjal-3260	318	33	composed	compose	VERB
cjal-3260	318	34	of	of	ADP
cjal-3260	318	35	legal	legal	ADJ
cjal-3260	318	36	experts	expert	NOUN
cjal-3260	318	37	and	and	CCONJ
cjal-3260	318	38	business	business	NOUN
cjal-3260	318	39	representatives	representative	NOUN
cjal-3260	318	40	,	,	PUNCT
cjal-3260	318	41	tasked	task	VERB
cjal-3260	318	42	with	with	ADP
cjal-3260	318	43	crafting	craft	VERB
cjal-3260	318	44	government	government	NOUN
cjal-3260	318	45	guidance	guidance	NOUN
cjal-3260	318	46	for	for	ADP
cjal-3260	318	47	hostile	hostile	ADJ
cjal-3260	318	48	takeover	takeover	NOUN
cjal-3260	318	49	policy	policy	NOUN
cjal-3260	318	50	.	.	PUNCT
cjal-3260	319	1	their	their	PRON
cjal-3260	319	2	work	work	NOUN
cjal-3260	319	3	culminated	culminate	VERB
cjal-3260	319	4	in	in	ADP
cjal-3260	319	5	the	the	DET
cjal-3260	319	6	takeover	takeover	NOUN
cjal-3260	319	7	guidelines	guideline	NOUN
cjal-3260	319	8	jointly	jointly	ADV
cjal-3260	319	9	issued	issue	VERB
cjal-3260	319	10	by	by	ADP
cjal-3260	319	11	the	the	DET
cjal-3260	319	12	ministries	ministry	NOUN
cjal-3260	319	13	in	in	ADP
cjal-3260	319	14	may	may	PROPN
cjal-3260	319	15	2005	2005	NUM
cjal-3260	319	16	.	.	PUNCT
cjal-3260	320	1	75	75	NUM
cjal-3260	320	2	the	the	DET
cjal-3260	320	3	study	study	NOUN
cjal-3260	320	4	group	group	NOUN
cjal-3260	320	5	's	's	PART
cjal-3260	320	6	policy	policy	NOUN
cjal-3260	320	7	response	response	NOUN
cjal-3260	320	8	followed	follow	VERB
cjal-3260	320	9	four	four	NUM
cjal-3260	320	10	principles	principle	NOUN
cjal-3260	320	11	:	:	PUNCT
cjal-3260	320	12	"	"	PUNCT
cjal-3260	320	13	enhancement	enhancement	NOUN
cjal-3260	320	14	of	of	ADP
cjal-3260	320	15	corporate	corporate	ADJ
cjal-3260	320	16	value	value	NOUN
cjal-3260	320	17	,	,	PUNCT
cjal-3260	320	18	global	global	ADJ
cjal-3260	320	19	standards	standard	NOUN
cjal-3260	320	20	,	,	PUNCT
cjal-3260	320	21	no	no	DET
cjal-3260	320	22	discrimination	discrimination	NOUN
cjal-3260	320	23	between	between	ADP
cjal-3260	320	24	foreign	foreign	ADJ
cjal-3260	320	25	and	and	CCONJ
cjal-3260	320	26	japanese	japanese	ADJ
cjal-3260	320	27	firms	firm	NOUN
cjal-3260	320	28	,	,	PUNCT
cjal-3260	320	29	and	and	CCONJ
cjal-3260	320	30	expansion	expansion	NOUN
cjal-3260	320	31	of	of	ADP
cjal-3260	320	32	choice	choice	NOUN
cjal-3260	320	33	.	.	PUNCT
cjal-3260	320	34	",76	",76	PUNCT
cjal-3260	321	1	their	their	PRON
cjal-3260	321	2	report	report	NOUN
cjal-3260	321	3	notes	note	VERB
cjal-3260	321	4	that	that	SCONJ
cjal-3260	321	5	,	,	PUNCT
cjal-3260	321	6	according	accord	VERB
cjal-3260	321	7	to	to	ADP
cjal-3260	321	8	one	one	NUM
cjal-3260	321	9	commentator	commentator	NOUN
cjal-3260	321	10	,	,	PUNCT
cjal-3260	321	11	"	"	PUNCT
cjal-3260	321	12	the	the	DET
cjal-3260	321	13	establishment	establishment	NOUN
cjal-3260	321	14	of	of	ADP
cjal-3260	321	15	defensive	defensive	ADJ
cjal-3260	321	16	measures	measure	NOUN
cjal-3260	321	17	in	in	ADP
cjal-3260	321	18	japan	japan	PROPN
cjal-3260	321	19	[	[	X
cjal-3260	321	20	had	have	AUX
cjal-3260	321	21	]	]	X
cjal-3260	321	22	73	73	NUM
cjal-3260	321	23	see	see	VERB
cjal-3260	321	24	curtis	curtis	PROPN
cjal-3260	321	25	j.	j.	PROPN
cjal-3260	321	26	milhaupt	milhaupt	PROPN
cjal-3260	321	27	,	,	PUNCT
cjal-3260	321	28	nonprofit	nonprofit	ADJ
cjal-3260	321	29	organizations	organization	NOUN
cjal-3260	321	30	as	as	ADP
cjal-3260	321	31	investor	investor	NOUN
cjal-3260	321	32	protection	protection	NOUN
cjal-3260	321	33	:	:	PUNCT
cjal-3260	321	34	economic	economic	ADJ
cjal-3260	321	35	theory	theory	NOUN
cjal-3260	321	36	and	and	CCONJ
cjal-3260	321	37	evidence	evidence	NOUN
cjal-3260	321	38	from	from	ADP
cjal-3260	321	39	east	east	PROPN
cjal-3260	321	40	asia	asia	PROPN
cjal-3260	321	41	,	,	PUNCT
cjal-3260	321	42	29	29	NUM
cjal-3260	321	43	yale	yale	PROPN
cjal-3260	321	44	j.	j.	PROPN
cjal-3260	321	45	int'l	int'l	PROPN
cjal-3260	321	46	l.	l.	PROPN
cjal-3260	321	47	169	169	NUM
cjal-3260	321	48	(	(	PUNCT
cjal-3260	321	49	2004	2004	NUM
cjal-3260	321	50	)	)	PUNCT
cjal-3260	321	51	.	.	PUNCT
cjal-3260	322	1	74	74	NUM
cjal-3260	322	2	milhaupt	milhaupt	NOUN
cjal-3260	322	3	,	,	PUNCT
cjal-3260	322	4	supra	supra	ADJ
cjal-3260	322	5	note	note	NOUN
cjal-3260	322	6	2	2	NUM
cjal-3260	322	7	at	at	ADP
cjal-3260	322	8	2172	2172	NUM
cjal-3260	322	9	.	.	PUNCT
cjal-3260	323	1	75	75	NUM
cjal-3260	323	2	keizai	keizai	NOUN
cjal-3260	323	3	sangyosho	sangyosho	PROPN
cjal-3260	323	4	&	&	CCONJ
cjal-3260	323	5	homusho	homusho	PROPN
cjal-3260	324	1	[	[	X
cjal-3260	324	2	ministry	ministry	NOUN
cjal-3260	324	3	of	of	ADP
cjal-3260	324	4	economy	economy	NOUN
cjal-3260	324	5	,	,	PUNCT
cjal-3260	324	6	trade	trade	NOUN
cjal-3260	324	7	and	and	CCONJ
cjal-3260	324	8	industry	industry	NOUN
cjal-3260	324	9	(	(	PUNCT
cjal-3260	324	10	meti	meti	X
cjal-3260	324	11	)	)	PUNCT
cjal-3260	324	12	&	&	CCONJ
cjal-3260	324	13	ministry	ministry	PROPN
cjal-3260	324	14	of	of	ADP
cjal-3260	324	15	justice	justice	PROPN
cjal-3260	324	16	]	]	PUNCT
cjal-3260	324	17	,	,	PUNCT
cjal-3260	324	18	kigyo	kigyo	PROPN
cjal-3260	324	19	kachi	kachi	PROPN
cjal-3260	324	20	,	,	PUNCT
cjal-3260	324	21	kabunushi	kabunushi	PROPN
cjal-3260	324	22	kyodo	kyodo	VERB
cjal-3260	324	23	no	no	DET
cjal-3260	324	24	rieki	rieki	NOUN
cjal-3260	324	25	no	no	DET
cjal-3260	324	26	kakuho	kakuho	PROPN
cjal-3260	324	27	mata	mata	PROPN
cjal-3260	324	28	wa	wa	PROPN
cjal-3260	324	29	kojo	kojo	PROPN
cjal-3260	324	30	no	no	DET
cjal-3260	324	31	tame	tame	NOUN
cjal-3260	324	32	no	no	DET
cjal-3260	324	33	baishu	baishu	NOUN
cjal-3260	324	34	boeisaku	boeisaku	PROPN
cjal-3260	324	35	ni	ni	PROPN
cjal-3260	324	36	kansuru	kansuru	PROPN
cjal-3260	324	37	shishin	shishin	PROPN
cjal-3260	325	1	[	[	X
cjal-3260	325	2	takeover	takeover	NOUN
cjal-3260	325	3	defense	defense	NOUN
cjal-3260	325	4	guidelines	guideline	NOUN
cjal-3260	325	5	for	for	ADP
cjal-3260	325	6	protecting	protect	VERB
cjal-3260	325	7	and	and	CCONJ
cjal-3260	325	8	enhancing	enhance	VERB
cjal-3260	325	9	corporate	corporate	ADJ
cjal-3260	325	10	value	value	NOUN
cjal-3260	325	11	and	and	CCONJ
cjal-3260	325	12	the	the	DET
cjal-3260	325	13	common	common	ADJ
cjal-3260	325	14	interests	interest	NOUN
cjal-3260	325	15	of	of	ADP
cjal-3260	325	16	shareholders	shareholder	NOUN
cjal-3260	325	17	]	]	PUNCT
cjal-3260	325	18	(	(	PUNCT
cjal-3260	325	19	may	may	PROPN
cjal-3260	325	20	2005	2005	NUM
cjal-3260	325	21	)	)	PUNCT
cjal-3260	325	22	,	,	PUNCT
cjal-3260	325	23	available	available	ADJ
cjal-3260	325	24	at	at	ADP
cjal-3260	325	25	http://www.meti.go.jp/press/20050527005/3-shishinn-honntai-set.pdf	http://www.meti.go.jp/press/20050527005/3-shishinn-honntai-set.pdf	PROPN
cjal-3260	325	26	.	.	PUNCT
cjal-3260	326	1	76	76	NUM
cjal-3260	326	2	milhaupt	milhaupt	NOUN
cjal-3260	326	3	,	,	PUNCT
cjal-3260	326	4	supra	supra	ADJ
cjal-3260	326	5	note	note	NOUN
cjal-3260	326	6	2	2	NUM
cjal-3260	326	7	at	at	ADP
cjal-3260	326	8	2195	2195	NUM
cjal-3260	326	9	.	.	PUNCT
cjal-3260	327	1	[	[	X
cjal-3260	327	2	20:2	20:2	NUM
cjal-3260	327	3	national	national	ADJ
cjal-3260	327	4	markets	market	NOUN
cjal-3260	327	5	,	,	PUNCT
cjal-3260	327	6	new	new	ADJ
cjal-3260	327	7	defenses	defense	NOUN
cjal-3260	327	8	been	be	AUX
cjal-3260	327	9	hampered	hamper	VERB
cjal-3260	327	10	by	by	ADP
cjal-3260	327	11	uncertainty	uncertainty	NOUN
cjal-3260	327	12	over	over	ADP
cjal-3260	327	13	their	their	PRON
cjal-3260	327	14	legal	legal	ADJ
cjal-3260	327	15	effect	effect	NOUN
cjal-3260	327	16	,	,	PUNCT
cjal-3260	327	17	a	a	DET
cjal-3260	327	18	paucity	paucity	NOUN
cjal-3260	327	19	of	of	ADP
cjal-3260	327	20	precedents	precedent	NOUN
cjal-3260	327	21	and	and	CCONJ
cjal-3260	327	22	experience	experience	NOUN
cjal-3260	327	23	,	,	PUNCT
cjal-3260	327	24	and	and	CCONJ
cjal-3260	327	25	a	a	DET
cjal-3260	327	26	lack	lack	NOUN
cjal-3260	327	27	of	of	ADP
cjal-3260	327	28	consensus	consensus	NOUN
cjal-3260	327	29	on	on	ADP
cjal-3260	327	30	what	what	PRON
cjal-3260	327	31	constitute[d	constitute[d	NOUN
cjal-3260	327	32	]	]	X
cjal-3260	327	33	reasonable	reasonable	ADJ
cjal-3260	327	34	defensive	defensive	ADJ
cjal-3260	327	35	measures	measure	NOUN
cjal-3260	327	36	"	"	PUNCT
cjal-3260	327	37	but	but	CCONJ
cjal-3260	327	38	concludes	conclude	VERB
cjal-3260	327	39	that	that	SCONJ
cjal-3260	327	40	"	"	PUNCT
cjal-3260	327	41	if	if	SCONJ
cjal-3260	327	42	adjusted	adjust	VERB
cjal-3260	327	43	for	for	ADP
cjal-3260	327	44	japanese	japanese	ADJ
cjal-3260	327	45	circumstances	circumstance	NOUN
cjal-3260	327	46	,	,	PUNCT
cjal-3260	327	47	most	most	ADV
cjal-3260	327	48	defensive	defensive	ADJ
cjal-3260	327	49	measures	measure	NOUN
cjal-3260	327	50	recognized	recognize	VERB
cjal-3260	327	51	in	in	ADP
cjal-3260	327	52	the	the	DET
cjal-3260	327	53	u.s	u.s	PROPN
cjal-3260	327	54	.	.	PROPN
cjal-3260	327	55	and	and	CCONJ
cjal-3260	327	56	europe	europe	PROPN
cjal-3260	327	57	[	[	X
cjal-3260	327	58	could	could	AUX
cjal-3260	327	59	]	]	AUX
cjal-3260	327	60	also	also	ADV
cjal-3260	327	61	be	be	AUX
cjal-3260	327	62	implemented	implement	VERB
cjal-3260	327	63	in	in	ADP
cjal-3260	327	64	japan	japan	PROPN
cjal-3260	327	65	.	.	PUNCT
cjal-3260	328	1	,	,	PUNCT
cjal-3260	328	2	77	77	NUM
cjal-3260	328	3	the	the	DET
cjal-3260	328	4	study	study	NOUN
cjal-3260	328	5	group	group	NOUN
cjal-3260	328	6	then	then	ADV
cjal-3260	328	7	draws	draw	VERB
cjal-3260	328	8	heavily	heavily	ADV
cjal-3260	328	9	on	on	ADP
cjal-3260	328	10	delaware	delaware	PROPN
cjal-3260	328	11	jurisprudence	jurisprudence	PROPN
cjal-3260	328	12	to	to	PART
cjal-3260	328	13	lay	lay	VERB
cjal-3260	328	14	out	out	ADP
cjal-3260	328	15	the	the	DET
cjal-3260	328	16	reasonableness	reasonableness	NOUN
cjal-3260	328	17	and	and	CCONJ
cjal-3260	328	18	proportionality	proportionality	NOUN
cjal-3260	328	19	requirements	requirement	NOUN
cjal-3260	328	20	that	that	PRON
cjal-3260	328	21	define	define	VERB
cjal-3260	328	22	the	the	DET
cjal-3260	328	23	delaware	delaware	PROPN
cjal-3260	328	24	doctrine	doctrine	NOUN
cjal-3260	328	25	,	,	PUNCT
cjal-3260	328	26	though	though	SCONJ
cjal-3260	328	27	milhaupt	milhaupt	NOUN
cjal-3260	328	28	finds	find	VERB
cjal-3260	328	29	that	that	SCONJ
cjal-3260	328	30	"	"	PUNCT
cjal-3260	328	31	they	they	PRON
cjal-3260	328	32	place	place	VERB
cjal-3260	328	33	more	more	ADJ
cjal-3260	328	34	emphasis	emphasis	NOUN
cjal-3260	328	35	on	on	ADP
cjal-3260	328	36	shareholder	shareholder	NOUN
cjal-3260	328	37	approval	approval	NOUN
cjal-3260	328	38	of	of	ADP
cjal-3260	328	39	defensive	defensive	ADJ
cjal-3260	328	40	measures	measure	NOUN
cjal-3260	328	41	as	as	ADP
cjal-3260	328	42	a	a	DET
cjal-3260	328	43	means	means	NOUN
cjal-3260	328	44	of	of	ADP
cjal-3260	328	45	ensuring	ensure	VERB
cjal-3260	328	46	fairness	fairness	NOUN
cjal-3260	328	47	than	than	SCONJ
cjal-3260	328	48	does	do	VERB
cjal-3260	328	49	delaware	delaware	PROPN
cjal-3260	328	50	doctrine	doctrine	VERB
cjal-3260	328	51	.	.	PUNCT
cjal-3260	329	1	78	78	NUM
cjal-3260	329	2	in	in	ADP
cjal-3260	329	3	a	a	DET
cjal-3260	329	4	parallel	parallel	ADJ
cjal-3260	329	5	company	company	NOUN
cjal-3260	329	6	law	law	NOUN
cjal-3260	329	7	update	update	NOUN
cjal-3260	329	8	effective	effective	ADJ
cjal-3260	329	9	may	may	PROPN
cjal-3260	329	10	1	1	NUM
cjal-3260	329	11	,	,	PUNCT
cjal-3260	329	12	2006	2006	NUM
cjal-3260	329	13	,	,	PUNCT
cjal-3260	329	14	japanese	japanese	ADJ
cjal-3260	329	15	companies	company	NOUN
cjal-3260	329	16	are	be	AUX
cjal-3260	329	17	required	require	VERB
cjal-3260	329	18	to	to	PART
cjal-3260	329	19	disclose	disclose	VERB
cjal-3260	329	20	in	in	ADP
cjal-3260	329	21	their	their	PRON
cjal-3260	329	22	annual	annual	ADJ
cjal-3260	329	23	business	business	NOUN
cjal-3260	329	24	reports	report	VERB
cjal-3260	329	25	specific	specific	ADJ
cjal-3260	329	26	defensive	defensive	ADJ
cjal-3260	329	27	measures	measure	NOUN
cjal-3260	329	28	contemplated	contemplate	VERB
cjal-3260	329	29	under	under	ADP
cjal-3260	329	30	certain	certain	ADJ
cjal-3260	329	31	circumstances	circumstance	NOUN
cjal-3260	329	32	.	.	PUNCT
cjal-3260	330	1	the	the	DET
cjal-3260	330	2	reports	report	NOUN
cjal-3260	330	3	must	must	AUX
cjal-3260	330	4	set	set	VERB
cjal-3260	330	5	out	out	ADP
cjal-3260	330	6	a	a	DET
cjal-3260	330	7	basic	basic	ADJ
cjal-3260	330	8	policy	policy	NOUN
cjal-3260	330	9	regarding	regard	VERB
cjal-3260	330	10	control	control	NOUN
cjal-3260	330	11	of	of	ADP
cjal-3260	330	12	the	the	DET
cjal-3260	330	13	company	company	NOUN
cjal-3260	330	14	,	,	PUNCT
cjal-3260	330	15	the	the	DET
cjal-3260	330	16	details	detail	NOUN
cjal-3260	330	17	of	of	ADP
cjal-3260	330	18	defensive	defensive	ADJ
cjal-3260	330	19	measures	measure	NOUN
cjal-3260	330	20	adopted	adopt	VERB
cjal-3260	330	21	and	and	CCONJ
cjal-3260	330	22	an	an	DET
cjal-3260	330	23	assessment	assessment	NOUN
cjal-3260	330	24	of	of	ADP
cjal-3260	330	25	the	the	DET
cjal-3260	330	26	boards	board	NOUN
cjal-3260	330	27	of	of	ADP
cjal-3260	330	28	directors	director	NOUN
cjal-3260	330	29	that	that	PRON
cjal-3260	330	30	the	the	DET
cjal-3260	330	31	defensive	defensive	ADJ
cjal-3260	330	32	measures	measure	NOUN
cjal-3260	330	33	are	be	AUX
cjal-3260	330	34	"	"	PUNCT
cjal-3260	330	35	in	in	ADP
cjal-3260	330	36	line	line	NOUN
cjal-3260	330	37	with	with	ADP
cjal-3260	330	38	the	the	DET
cjal-3260	330	39	basic	basic	ADJ
cjal-3260	330	40	policy	policy	NOUN
cjal-3260	330	41	,	,	PUNCT
cjal-3260	330	42	do	do	AUX
cjal-3260	330	43	not	not	PART
cjal-3260	330	44	impair	impair	VERB
cjal-3260	330	45	the	the	DET
cjal-3260	330	46	common	common	ADJ
cjal-3260	330	47	interests	interest	NOUN
cjal-3260	330	48	of	of	ADP
cjal-3260	330	49	shareholders	shareholder	NOUN
cjal-3260	330	50	and	and	CCONJ
cjal-3260	330	51	are	be	AUX
cjal-3260	330	52	not	not	PART
cjal-3260	330	53	for	for	ADP
cjal-3260	330	54	the	the	DET
cjal-3260	330	55	purpose	purpose	NOUN
cjal-3260	330	56	of	of	ADP
cjal-3260	330	57	protecting	protect	VERB
cjal-3260	330	58	the	the	DET
cjal-3260	330	59	company	company	NOUN
cjal-3260	330	60	's	's	PART
cjal-3260	330	61	directors	director	NOUN
cjal-3260	330	62	'	'	PART
cjal-3260	330	63	,	,	PUNCT
cjal-3260	330	64	corporate	corporate	ADJ
cjal-3260	330	65	auditors	auditor	NOUN
cjal-3260	330	66	'	'	PART
cjal-3260	330	67	and	and	CCONJ
cjal-3260	330	68	corporate	corporate	ADJ
cjal-3260	330	69	executives	executive	NOUN
cjal-3260	330	70	officers	officer	NOUN
cjal-3260	330	71	'	'	PART
cjal-3260	330	72	positions	position	NOUN
cjal-3260	330	73	.	.	PUNCT
cjal-3260	330	74	"	"	PUNCT
cjal-3260	331	1	79	79	NUM
cjal-3260	331	2	the	the	DET
cjal-3260	331	3	tokyo	tokyo	PROPN
cjal-3260	331	4	stock	stock	NOUN
cjal-3260	331	5	exchange	exchange	NOUN
cjal-3260	331	6	also	also	ADV
cjal-3260	331	7	now	now	ADV
cjal-3260	331	8	requires	require	VERB
cjal-3260	331	9	listed	list	VERB
cjal-3260	331	10	companies	company	NOUN
cjal-3260	331	11	to	to	PART
cjal-3260	331	12	timely	timely	ADV
cjal-3260	331	13	disclose	disclose	VERB
cjal-3260	331	14	information	information	NOUN
cjal-3260	331	15	when	when	SCONJ
cjal-3260	331	16	they	they	PRON
cjal-3260	331	17	issue	issue	VERB
cjal-3260	331	18	new	new	ADJ
cjal-3260	331	19	shares	share	NOUN
cjal-3260	331	20	or	or	CCONJ
cjal-3260	331	21	rights	right	NOUN
cjal-3260	331	22	as	as	ADP
cjal-3260	331	23	a	a	DET
cjal-3260	331	24	takeover	takeover	NOUN
cjal-3260	331	25	defense	defense	NOUN
cjal-3260	331	26	,	,	PUNCT
cjal-3260	331	27	and	and	CCONJ
cjal-3260	331	28	enjoys	enjoy	VERB
cjal-3260	331	29	the	the	DET
cjal-3260	331	30	right	right	NOUN
cjal-3260	331	31	to	to	ADP
cjal-3260	331	32	de	de	NOUN
cjal-3260	331	33	-	-	NOUN
cjal-3260	331	34	list	list	NOUN
cjal-3260	331	35	a	a	DET
cjal-3260	331	36	company	company	NOUN
cjal-3260	331	37	if	if	SCONJ
cjal-3260	331	38	it	it	PRON
cjal-3260	331	39	feels	feel	VERB
cjal-3260	331	40	that	that	SCONJ
cjal-3260	331	41	adoption	adoption	NOUN
cjal-3260	331	42	of	of	ADP
cjal-3260	331	43	defensive	defensive	ADJ
cjal-3260	331	44	measures	measure	NOUN
cjal-3260	331	45	was	be	AUX
cjal-3260	331	46	inappropriate.80	inappropriate.80	ADJ
cjal-3260	331	47	as	as	ADP
cjal-3260	331	48	of	of	ADP
cjal-3260	331	49	spring	spring	NOUN
cjal-3260	331	50	2006	2006	NUM
cjal-3260	331	51	,	,	PUNCT
cjal-3260	331	52	japanese	japanese	ADJ
cjal-3260	331	53	lawyers	lawyer	NOUN
cjal-3260	331	54	reported	report	VERB
cjal-3260	331	55	that	that	SCONJ
cjal-3260	331	56	"	"	PUNCT
cjal-3260	331	57	more	more	ADJ
cjal-3260	331	58	and	and	CCONJ
cjal-3260	331	59	more	more	ADJ
cjal-3260	331	60	japanese	japanese	ADJ
cjal-3260	331	61	companies	company	NOUN
cjal-3260	331	62	are	be	AUX
cjal-3260	331	63	choosing	choose	VERB
cjal-3260	331	64	to	to	PART
cjal-3260	331	65	adopt	adopt	VERB
cjal-3260	331	66	defensive	defensive	ADJ
cjal-3260	331	67	measures	measure	NOUN
cjal-3260	331	68	against	against	ADP
cjal-3260	331	69	potential	potential	ADJ
cjal-3260	331	70	hostile	hostile	ADJ
cjal-3260	331	71	takeovers	takeover	NOUN
cjal-3260	331	72	,	,	PUNCT
cjal-3260	331	73	"	"	PUNCT
cjal-3260	331	74	the	the	DET
cjal-3260	331	75	most	most	ADV
cjal-3260	331	76	widely	widely	ADV
cjal-3260	331	77	used	use	VERB
cjal-3260	331	78	being	be	AUX
cjal-3260	331	79	the	the	DET
cjal-3260	331	80	"	"	PUNCT
cjal-3260	331	81	pre	pre	ADJ
cjal-3260	331	82	-	-	ADJ
cjal-3260	331	83	warning	warning	ADJ
cjal-3260	331	84	defensive	defensive	ADJ
cjal-3260	331	85	scheme	scheme	NOUN
cjal-3260	331	86	"	"	PUNCT
cjal-3260	331	87	in	in	ADP
cjal-3260	331	88	which	which	PRON
cjal-3260	331	89	the	the	DET
cjal-3260	331	90	"	"	PUNCT
cjal-3260	331	91	company	company	NOUN
cjal-3260	331	92	makes	make	VERB
cjal-3260	331	93	public	public	ADJ
cjal-3260	331	94	its	its	PRON
cjal-3260	331	95	proposed	propose	VERB
cjal-3260	331	96	procedures	procedure	NOUN
cjal-3260	331	97	and	and	CCONJ
cjal-3260	331	98	management	management	NOUN
cjal-3260	331	99	's	's	PART
cjal-3260	331	100	possible	possible	ADJ
cjal-3260	331	101	countermeasures	countermeasure	NOUN
cjal-3260	331	102	to	to	PART
cjal-3260	331	103	be	be	AUX
cjal-3260	331	104	employed	employ	VERB
cjal-3260	331	105	in	in	ADP
cjal-3260	331	106	the	the	DET
cjal-3260	331	107	event	event	NOUN
cjal-3260	331	108	of	of	ADP
cjal-3260	331	109	a	a	DET
cjal-3260	331	110	potential	potential	ADJ
cjal-3260	331	111	hostile	hostile	ADJ
cjal-3260	331	112	takeover	takeover	NOUN
cjal-3260	331	113	.	.	PUNCT
cjal-3260	331	114	"	"	PUNCT
cjal-3260	332	1	81	81	NUM
cjal-3260	332	2	the	the	DET
cjal-3260	332	3	japanese	japanese	ADJ
cjal-3260	332	4	solution	solution	NOUN
cjal-3260	332	5	represents	represent	VERB
cjal-3260	332	6	a	a	DET
cjal-3260	332	7	transplant	transplant	NOUN
cjal-3260	332	8	experiment	experiment	NOUN
cjal-3260	332	9	in	in	ADP
cjal-3260	332	10	law	law	NOUN
cjal-3260	332	11	,	,	PUNCT
cjal-3260	332	12	and	and	CCONJ
cjal-3260	332	13	an	an	DET
cjal-3260	332	14	informed	informed	ADJ
cjal-3260	332	15	one	one	NUM
cjal-3260	332	16	,	,	PUNCT
cjal-3260	332	17	given	give	VERB
cjal-3260	332	18	that	that	SCONJ
cjal-3260	332	19	twenty	twenty	NUM
cjal-3260	332	20	-	-	PUNCT
cjal-3260	332	21	five	five	NUM
cjal-3260	332	22	years	year	NOUN
cjal-3260	332	23	of	of	ADP
cjal-3260	332	24	u.s	u.s	PROPN
cjal-3260	332	25	.	.	PROPN
cjal-3260	332	26	history	history	NOUN
cjal-3260	332	27	is	be	AUX
cjal-3260	332	28	collapsed	collapse	VERB
cjal-3260	332	29	into	into	ADP
cjal-3260	332	30	the	the	DET
cjal-3260	332	31	takeover	takeover	NOUN
cjal-3260	332	32	guidelines	guideline	NOUN
cjal-3260	332	33	and	and	CCONJ
cjal-3260	332	34	transparency	transparency	NOUN
cjal-3260	332	35	concerns	concern	NOUN
cjal-3260	332	36	are	be	AUX
cjal-3260	332	37	addressed	address	VERB
cjal-3260	332	38	in	in	ADP
cjal-3260	332	39	the	the	DET
cjal-3260	332	40	disclosure	disclosure	NOUN
cjal-3260	332	41	scheme	scheme	NOUN
cjal-3260	332	42	.	.	PUNCT
cjal-3260	333	1	it	it	PRON
cjal-3260	333	2	remains	remain	VERB
cjal-3260	333	3	to	to	PART
cjal-3260	333	4	be	be	AUX
cjal-3260	333	5	seen	see	VERB
cjal-3260	333	6	whether	whether	SCONJ
cjal-3260	333	7	the	the	DET
cjal-3260	333	8	77	77	NUM
cjal-3260	333	9	i	i	PRON
cjal-3260	333	10	d.	d.	PROPN
cjal-3260	333	11	at	at	ADP
cjal-3260	333	12	2197	2197	NUM
cjal-3260	333	13	(	(	PUNCT
cjal-3260	333	14	quoting	quote	VERB
cjal-3260	333	15	kigyo	kigyo	NOUN
cjal-3260	333	16	kachi	kachi	PROPN
cjal-3260	333	17	kenkyu	kenkyu	PROPN
cjal-3260	333	18	kai	kai	PROPN
cjal-3260	334	1	[	[	X
cjal-3260	334	2	corporate	corporate	ADJ
cjal-3260	334	3	value	value	NOUN
cjal-3260	334	4	study	study	NOUN
cjal-3260	334	5	group	group	NOUN
cjal-3260	334	6	]	]	PUNCT
cjal-3260	334	7	,	,	PUNCT
cjal-3260	334	8	tekitaiteki	tekitaiteki	PROPN
cjal-3260	334	9	baishu	baishu	PROPN
cjal-3260	334	10	boeisaku	boeisaku	PROPN
cjal-3260	334	11	(	(	PUNCT
cjal-3260	334	12	kigyo	kigyo	X
cjal-3260	334	13	kachi	kachi	PROPN
cjal-3260	334	14	boeisaku	boeisaku	PROPN
cjal-3260	334	15	)	)	PUNCT
cjal-3260	334	16	no	no	DET
cjal-3260	334	17	seibi	seibi	NOUN
cjal-3260	335	1	[	[	X
cjal-3260	335	2	preparing	prepare	VERB
cjal-3260	335	3	defensive	defensive	ADJ
cjal-3260	335	4	measures	measure	NOUN
cjal-3260	335	5	toward	toward	ADP
cjal-3260	335	6	hostile	hostile	ADJ
cjal-3260	335	7	takeovers	takeover	NOUN
cjal-3260	335	8	(	(	PUNCT
cjal-3260	335	9	measures	measure	NOUN
cjal-3260	335	10	to	to	PART
cjal-3260	335	11	defend	defend	VERB
cjal-3260	335	12	corporate	corporate	ADJ
cjal-3260	335	13	value	value	NOUN
cjal-3260	335	14	)	)	PUNCT
cjal-3260	335	15	]	]	PUNCT
cjal-3260	336	1	19	19	NUM
cjal-3260	336	2	(	(	PUNCT
cjal-3260	336	3	mar	mar	PROPN
cjal-3260	336	4	.	.	PROPN
cjal-3260	336	5	2005	2005	NUM
cjal-3260	336	6	)	)	PUNCT
cjal-3260	336	7	,	,	PUNCT
cjal-3260	336	8	available	available	ADJ
cjal-3260	336	9	at	at	ADP
cjal-3260	336	10	http://www.meti.go.jp/committee/materials/downloadfiles/g50307ai	http://www.meti.go.jp/committee/materials/downloadfiles/g50307ai	PROPN
cjal-3260	336	11	ij.pdf	ij.pdf	PROPN
cjal-3260	336	12	)	)	PUNCT
cjal-3260	336	13	.	.	PUNCT
cjal-3260	337	1	78	78	NUM
cjal-3260	338	1	i	i	PRON
cjal-3260	338	2	d.	d.	PROPN
cjal-3260	338	3	79	79	NUM
cjal-3260	338	4	nagashima	nagashima	PROPN
cjal-3260	338	5	ohno	ohno	PROPN
cjal-3260	338	6	&	&	CCONJ
cjal-3260	338	7	tsunematsu	tsunematsu	PROPN
cjal-3260	338	8	,	,	PUNCT
cjal-3260	338	9	japan	japan	PROPN
cjal-3260	338	10	:	:	PUNCT
cjal-3260	338	11	takeover	takeover	NOUN
cjal-3260	338	12	defences	defence	NOUN
cjal-3260	338	13	,	,	PUNCT
cjal-3260	338	14	int'l	int'l	ADP
cjal-3260	338	15	fin'l	fin'l	PROPN
cjal-3260	338	16	l.	l.	PROPN
cjal-3260	338	17	rev	rev	PROPN
cjal-3260	338	18	.	.	PROPN
cjal-3260	338	19	,	,	PUNCT
cjal-3260	338	20	apr	apr	PROPN
cjal-3260	338	21	.	.	PROPN
cjal-3260	338	22	2006	2006	NUM
cjal-3260	338	23	,	,	PUNCT
cjal-3260	338	24	available	available	ADJ
cjal-3260	338	25	at	at	ADP
cjal-3260	338	26	http://www.iflr.com/?page	http://www.iflr.com/?page	NOUN
cjal-3260	338	27	=	=	ADJ
cjal-3260	338	28	10&pubid=33&iss=21613&sid=623513&type=20	10&pubid=33&iss=21613&sid=623513&type=20	PROPN
cjal-3260	338	29	.	.	PUNCT
cjal-3260	339	1	80	80	NUM
cjal-3260	340	1	i	i	PRON
cjal-3260	340	2	d.	d.	PROPN
cjal-3260	340	3	81	81	NUM
cjal-3260	341	1	i	i	PRON
cjal-3260	341	2	d.	d.	PROPN
cjal-3260	341	3	2007	2007	NUM
cjal-3260	341	4	]	]	PUNCT
cjal-3260	341	5	columbia	columbia	PROPN
cjal-3260	341	6	journal	journal	PROPN
cjal-3260	341	7	of	of	ADP
cjal-3260	341	8	asian	asian	ADJ
cjal-3260	341	9	law	law	NOUN
cjal-3260	341	10	market	market	NOUN
cjal-3260	341	11	for	for	ADP
cjal-3260	341	12	corporate	corporate	ADJ
cjal-3260	341	13	control	control	NOUN
cjal-3260	341	14	will	will	AUX
cjal-3260	341	15	benefit	benefit	VERB
cjal-3260	341	16	from	from	ADP
cjal-3260	341	17	the	the	DET
cjal-3260	341	18	new	new	ADJ
cjal-3260	341	19	technology	technology	NOUN
cjal-3260	341	20	.	.	PUNCT
cjal-3260	342	1	professor	professor	NOUN
cjal-3260	342	2	gilson	gilson	PROPN
cjal-3260	342	3	raises	raise	VERB
cjal-3260	342	4	concerns	concern	NOUN
cjal-3260	342	5	that	that	SCONJ
cjal-3260	342	6	the	the	DET
cjal-3260	342	7	institutional	institutional	ADJ
cjal-3260	342	8	infrastructure	infrastructure	NOUN
cjal-3260	342	9	that	that	PRON
cjal-3260	342	10	made	make	VERB
cjal-3260	342	11	the	the	DET
cjal-3260	342	12	pill	pill	NOUN
cjal-3260	342	13	less	less	ADV
cjal-3260	342	14	harmful	harmful	ADJ
cjal-3260	342	15	in	in	ADP
cjal-3260	342	16	the	the	DET
cjal-3260	342	17	u.s	u.s	PROPN
cjal-3260	342	18	.	.	PROPN
cjal-3260	342	19	does	do	AUX
cjal-3260	342	20	not	not	PART
cjal-3260	342	21	exist	exist	VERB
cjal-3260	342	22	in	in	ADP
cjal-3260	342	23	japan	japan	PROPN
cjal-3260	342	24	and	and	CCONJ
cjal-3260	342	25	"	"	PUNCT
cjal-3260	342	26	[	[	X
cjal-3260	342	27	t]hus	t]hus	NOUN
cjal-3260	342	28	,	,	PUNCT
cjal-3260	342	29	the	the	DET
cjal-3260	342	30	poison	poison	NOUN
cjal-3260	342	31	pill	pill	NOUN
cjal-3260	342	32	has	have	VERB
cjal-3260	342	33	the	the	DET
cjal-3260	342	34	potential	potential	NOUN
cjal-3260	342	35	to	to	PART
cjal-3260	342	36	be	be	AUX
cjal-3260	342	37	greatly	greatly	ADV
cjal-3260	342	38	more	more	ADV
cjal-3260	342	39	pernicious	pernicious	ADJ
cjal-3260	342	40	in	in	ADP
cjal-3260	342	41	japan	japan	PROPN
cjal-3260	342	42	than	than	SCONJ
cjal-3260	342	43	it	it	PRON
cjal-3260	342	44	has	have	AUX
cjal-3260	342	45	been	be	AUX
cjal-3260	342	46	in	in	ADP
cjal-3260	342	47	the	the	DET
cjal-3260	342	48	united	united	PROPN
cjal-3260	342	49	states	states	PROPN
cjal-3260	342	50	.	.	PUNCT
cjal-3260	342	51	"	"	PUNCT
cjal-3260	343	1	82	82	NUM
cjal-3260	343	2	predictions	prediction	NOUN
cjal-3260	343	3	that	that	PRON
cjal-3260	343	4	the	the	DET
cjal-3260	343	5	poison	poison	NOUN
cjal-3260	343	6	pill	pill	NOUN
cjal-3260	343	7	would	would	AUX
cjal-3260	343	8	ruin	ruin	VERB
cjal-3260	343	9	the	the	DET
cjal-3260	343	10	market	market	NOUN
cjal-3260	343	11	for	for	ADP
cjal-3260	343	12	efficient	efficient	ADJ
cjal-3260	343	13	takeovers	takeover	NOUN
cjal-3260	343	14	were	be	AUX
cjal-3260	343	15	not	not	PART
cjal-3260	343	16	realized	realize	VERB
cjal-3260	343	17	in	in	ADP
cjal-3260	343	18	the	the	DET
cjal-3260	343	19	u.s	u.s	PROPN
cjal-3260	343	20	.	.	PROPN
cjal-3260	343	21	due	due	ADP
cjal-3260	343	22	to	to	ADP
cjal-3260	343	23	the	the	DET
cjal-3260	343	24	role	role	NOUN
cjal-3260	343	25	the	the	DET
cjal-3260	343	26	delaware	delaware	PROPN
cjal-3260	343	27	courts	court	NOUN
cjal-3260	343	28	and	and	CCONJ
cjal-3260	343	29	institutional	institutional	ADJ
cjal-3260	343	30	shareholders	shareholder	NOUN
cjal-3260	343	31	have	have	AUX
cjal-3260	343	32	played	play	VERB
cjal-3260	343	33	in	in	ADP
cjal-3260	343	34	mediating	mediate	VERB
cjal-3260	343	35	the	the	DET
cjal-3260	343	36	market	market	NOUN
cjal-3260	343	37	for	for	ADP
cjal-3260	343	38	corporate	corporate	ADJ
cjal-3260	343	39	control	control	NOUN
cjal-3260	343	40	and	and	CCONJ
cjal-3260	343	41	in	in	ADP
cjal-3260	343	42	limiting	limit	VERB
cjal-3260	343	43	pills	pill	NOUN
cjal-3260	343	44	'	'	PART
cjal-3260	343	45	abuse	abuse	NOUN
cjal-3260	343	46	by	by	ADP
cjal-3260	343	47	incumbents	incumbent	NOUN
cjal-3260	343	48	.	.	PUNCT
cjal-3260	344	1	83	83	NUM
cjal-3260	344	2	without	without	ADP
cjal-3260	344	3	these	these	DET
cjal-3260	344	4	institutions	institution	NOUN
cjal-3260	344	5	,	,	PUNCT
cjal-3260	344	6	and	and	CCONJ
cjal-3260	344	7	in	in	ADP
cjal-3260	344	8	a	a	DET
cjal-3260	344	9	corporate	corporate	ADJ
cjal-3260	344	10	market	market	NOUN
cjal-3260	344	11	where	where	SCONJ
cjal-3260	344	12	hostile	hostile	ADJ
cjal-3260	344	13	takeovers	takeover	NOUN
cjal-3260	344	14	are	be	AUX
cjal-3260	344	15	"	"	PUNCT
cjal-3260	344	16	one	one	NUM
cjal-3260	344	17	of	of	ADP
cjal-3260	344	18	the	the	DET
cjal-3260	344	19	few	few	ADJ
cjal-3260	344	20	external	external	ADJ
cjal-3260	344	21	mechanisms	mechanism	NOUN
cjal-3260	344	22	for	for	ADP
cjal-3260	344	23	systemic	systemic	ADJ
cjal-3260	344	24	change	change	NOUN
cjal-3260	344	25	,	,	PUNCT
cjal-3260	344	26	"	"	PUNCT
cjal-3260	344	27	gilson	gilson	PROPN
cjal-3260	344	28	finds	find	VERB
cjal-3260	344	29	that	that	SCONJ
cjal-3260	344	30	the	the	DET
cjal-3260	344	31	stakes	stake	NOUN
cjal-3260	344	32	are	be	AUX
cjal-3260	344	33	much	much	ADV
cjal-3260	344	34	higher	high	ADJ
cjal-3260	344	35	in	in	ADP
cjal-3260	344	36	japan	japan	PROPN
cjal-3260	344	37	.	.	PUNCT
cjal-3260	345	1	84	84	NUM
cjal-3260	346	1	the	the	DET
cjal-3260	346	2	outcome	outcome	NOUN
cjal-3260	346	3	ultimately	ultimately	ADV
cjal-3260	346	4	will	will	AUX
cjal-3260	346	5	depend	depend	VERB
cjal-3260	346	6	on	on	ADP
cjal-3260	346	7	whether	whether	SCONJ
cjal-3260	346	8	something	something	PRON
cjal-3260	346	9	outside	outside	ADP
cjal-3260	346	10	the	the	DET
cjal-3260	346	11	pill	pill	NOUN
cjal-3260	346	12	the	the	DET
cjal-3260	346	13	legal	legal	ADJ
cjal-3260	346	14	standards	standard	NOUN
cjal-3260	346	15	for	for	ADP
cjal-3260	346	16	when	when	SCONJ
cjal-3260	346	17	the	the	DET
cjal-3260	346	18	board	board	NOUN
cjal-3260	346	19	may	may	AUX
cjal-3260	346	20	use	use	VERB
cjal-3260	346	21	it	it	PRON
cjal-3260	346	22	operate	operate	VERB
cjal-3260	346	23	to	to	PART
cjal-3260	346	24	prevent	prevent	VERB
cjal-3260	346	25	the	the	DET
cjal-3260	346	26	pill	pill	NOUN
cjal-3260	346	27	from	from	ADP
cjal-3260	346	28	"	"	PUNCT
cjal-3260	346	29	achieving	achieve	VERB
cjal-3260	346	30	its	its	PRON
cjal-3260	346	31	destructive	destructive	ADJ
cjal-3260	346	32	potential	potential	NOUN
cjal-3260	346	33	.	.	PUNCT
cjal-3260	347	1	,	,	PUNCT
cjal-3260	347	2	85	85	NUM
cjal-3260	347	3	the	the	DET
cjal-3260	347	4	new	new	ADJ
cjal-3260	347	5	defenses	defense	NOUN
cjal-3260	347	6	permitted	permit	VERB
cjal-3260	347	7	and	and	CCONJ
cjal-3260	347	8	soon	soon	ADV
cjal-3260	347	9	to	to	PART
cjal-3260	347	10	be	be	AUX
cjal-3260	347	11	published	publish	VERB
cjal-3260	347	12	at	at	ADP
cjal-3260	347	13	japanese	japanese	ADJ
cjal-3260	347	14	companies	company	NOUN
cjal-3260	347	15	should	should	AUX
cjal-3260	347	16	provide	provide	VERB
cjal-3260	347	17	helpful	helpful	ADJ
cjal-3260	347	18	data	datum	NOUN
cjal-3260	347	19	in	in	ADP
cjal-3260	347	20	evaluating	evaluate	VERB
cjal-3260	347	21	the	the	DET
cjal-3260	347	22	merits	merit	NOUN
cjal-3260	347	23	of	of	ADP
cjal-3260	347	24	the	the	DET
cjal-3260	347	25	transplant	transplant	NOUN
cjal-3260	347	26	experiment	experiment	NOUN
cjal-3260	347	27	as	as	ADV
cjal-3260	347	28	well	well	ADV
cjal-3260	347	29	as	as	ADP
cjal-3260	347	30	a	a	DET
cjal-3260	347	31	second	second	ADJ
cjal-3260	347	32	set	set	NOUN
cjal-3260	347	33	of	of	ADP
cjal-3260	347	34	data	datum	NOUN
cjal-3260	347	35	points	point	NOUN
cjal-3260	347	36	for	for	ADP
cjal-3260	347	37	evaluation	evaluation	NOUN
cjal-3260	347	38	of	of	ADP
cjal-3260	347	39	the	the	DET
cjal-3260	347	40	poison	poison	NOUN
cjal-3260	347	41	pill	pill	NOUN
cjal-3260	347	42	generally	generally	ADV
cjal-3260	347	43	.	.	PUNCT
cjal-3260	348	1	the	the	DET
cjal-3260	348	2	american	american	ADJ
cjal-3260	348	3	model	model	NOUN
cjal-3260	348	4	was	be	AUX
cjal-3260	348	5	not	not	PART
cjal-3260	348	6	the	the	DET
cjal-3260	348	7	only	only	ADJ
cjal-3260	348	8	"	"	PUNCT
cjal-3260	348	9	global	global	ADJ
cjal-3260	348	10	standard	standard	NOUN
cjal-3260	348	11	"	"	PUNCT
cjal-3260	348	12	available	available	ADJ
cjal-3260	348	13	to	to	ADP
cjal-3260	348	14	japan	japan	PROPN
cjal-3260	348	15	's	's	PART
cjal-3260	348	16	corporate	corporate	ADJ
cjal-3260	348	17	value	value	NOUN
cjal-3260	348	18	study	study	NOUN
cjal-3260	348	19	group	group	NOUN
cjal-3260	348	20	for	for	ADP
cjal-3260	348	21	a	a	DET
cjal-3260	348	22	relatively	relatively	ADV
cjal-3260	348	23	successful	successful	ADJ
cjal-3260	348	24	takeover	takeover	NOUN
cjal-3260	348	25	policy	policy	NOUN
cjal-3260	348	26	.	.	PUNCT
cjal-3260	349	1	the	the	DET
cjal-3260	349	2	british	british	PROPN
cjal-3260	349	3	city	city	PROPN
cjal-3260	349	4	code	code	PROPN
cjal-3260	349	5	on	on	ADP
cjal-3260	349	6	takeovers	takeover	NOUN
cjal-3260	349	7	and	and	CCONJ
cjal-3260	349	8	mergers	merger	NOUN
cjal-3260	349	9	offers	offer	VERB
cjal-3260	349	10	an	an	DET
cjal-3260	349	11	alternative	alternative	NOUN
cjal-3260	349	12	that	that	PRON
cjal-3260	349	13	centers	center	VERB
cjal-3260	349	14	on	on	ADP
cjal-3260	349	15	shareholder	shareholder	NOUN
cjal-3260	349	16	approval	approval	NOUN
cjal-3260	349	17	,	,	PUNCT
cjal-3260	349	18	but	but	CCONJ
cjal-3260	349	19	is	be	AUX
cjal-3260	349	20	less	less	ADV
cjal-3260	349	21	protective	protective	ADJ
cjal-3260	349	22	of	of	ADP
cjal-3260	349	23	management	management	NOUN
cjal-3260	349	24	.	.	PUNCT
cjal-3260	350	1	the	the	DET
cjal-3260	350	2	city	city	PROPN
cjal-3260	350	3	code	code	NOUN
cjal-3260	350	4	was	be	AUX
cjal-3260	350	5	the	the	DET
cjal-3260	350	6	model	model	NOUN
cjal-3260	350	7	for	for	ADP
cjal-3260	350	8	takeover	takeover	NOUN
cjal-3260	350	9	policy	policy	NOUN
cjal-3260	350	10	in	in	ADP
cjal-3260	350	11	malaysia	malaysia	PROPN
cjal-3260	350	12	and	and	CCONJ
cjal-3260	350	13	singapore	singapore	PROPN
cjal-3260	350	14	.	.	PUNCT
cjal-3260	351	1	its	its	PRON
cjal-3260	351	2	merits	merit	NOUN
cjal-3260	351	3	have	have	AUX
cjal-3260	351	4	been	be	AUX
cjal-3260	351	5	much	much	ADV
cjal-3260	351	6	debated	debate	VERB
cjal-3260	351	7	and	and	CCONJ
cjal-3260	351	8	its	its	PRON
cjal-3260	351	9	transplant	transplant	NOUN
cjal-3260	351	10	potential	potential	NOUN
cjal-3260	351	11	carefully	carefully	ADV
cjal-3260	351	12	studied	study	VERB
cjal-3260	351	13	in	in	ADP
cjal-3260	351	14	the	the	DET
cjal-3260	351	15	extended	extended	ADJ
cjal-3260	351	16	tour	tour	NOUN
cjal-3260	351	17	that	that	PRON
cjal-3260	351	18	led	lead	VERB
cjal-3260	351	19	,	,	PUNCT
cjal-3260	351	20	finally	finally	ADV
cjal-3260	351	21	,	,	PUNCT
cjal-3260	351	22	to	to	ADP
cjal-3260	351	23	the	the	DET
cjal-3260	351	24	european	european	PROPN
cjal-3260	351	25	union	union	PROPN
cjal-3260	351	26	's	's	PART
cjal-3260	351	27	adoption	adoption	NOUN
cjal-3260	351	28	of	of	ADP
cjal-3260	351	29	the	the	DET
cjal-3260	351	30	thirteenth	thirteenth	ADJ
cjal-3260	351	31	directive	directive	NOUN
cjal-3260	351	32	on	on	ADP
cjal-3260	351	33	takeover	takeover	NOUN
cjal-3260	351	34	bids	bid	NOUN
cjal-3260	351	35	.	.	PUNCT
cjal-3260	352	1	the	the	DET
cjal-3260	352	2	takeover	takeover	NOUN
cjal-3260	352	3	bid	bid	NOUN
cjal-3260	352	4	directive	directive	NOUN
cjal-3260	352	5	,	,	PUNCT
cjal-3260	352	6	however	however	ADV
cjal-3260	352	7	,	,	PUNCT
cjal-3260	352	8	transplants	transplant	VERB
cjal-3260	352	9	the	the	DET
cjal-3260	352	10	city	city	NOUN
cjal-3260	352	11	code	code	NOUN
cjal-3260	352	12	only	only	ADV
cjal-3260	352	13	in	in	ADP
cjal-3260	352	14	form	form	NOUN
cjal-3260	352	15	.	.	PUNCT
cjal-3260	353	1	e.	e.	PROPN
cjal-3260	353	2	the	the	DET
cjal-3260	353	3	uk	uk	PROPN
cjal-3260	353	4	.	.	PUNCT
cjal-3260	353	5	:	:	PUNCT
cjal-3260	354	1	isles	isle	NOUN
cjal-3260	354	2	of	of	ADP
cjal-3260	354	3	passivity	passivity	NOUN
cjal-3260	354	4	the	the	DET
cjal-3260	354	5	u.k	u.k	PROPN
cjal-3260	354	6	.	.	PROPN
cjal-3260	354	7	's	's	PART
cjal-3260	354	8	city	city	PROPN
cjal-3260	354	9	code	code	NOUN
cjal-3260	354	10	settles	settle	VERB
cjal-3260	354	11	the	the	DET
cjal-3260	354	12	question	question	NOUN
cjal-3260	354	13	of	of	ADP
cjal-3260	354	14	who	who	PRON
cjal-3260	354	15	will	will	AUX
cjal-3260	354	16	decide	decide	VERB
cjal-3260	354	17	on	on	ADP
cjal-3260	354	18	an	an	DET
cjal-3260	354	19	unsolicited	unsolicited	ADJ
cjal-3260	354	20	takeover	takeover	NOUN
cjal-3260	354	21	bid	bid	NOUN
cjal-3260	354	22	in	in	ADP
cjal-3260	354	23	the	the	DET
cjal-3260	354	24	opposite	opposite	ADJ
cjal-3260	354	25	direction	direction	NOUN
cjal-3260	354	26	of	of	ADP
cjal-3260	354	27	the	the	DET
cjal-3260	354	28	american	american	ADJ
cjal-3260	354	29	system	system	NOUN
cjal-3260	354	30	,	,	PUNCT
cjal-3260	354	31	and	and	CCONJ
cjal-3260	354	32	gives	give	VERB
cjal-3260	354	33	the	the	DET
cjal-3260	354	34	power	power	NOUN
cjal-3260	354	35	to	to	ADP
cjal-3260	354	36	the	the	DET
cjal-3260	354	37	shareholders	shareholder	NOUN
cjal-3260	354	38	.	.	PUNCT
cjal-3260	355	1	boards	board	NOUN
cjal-3260	355	2	are	be	AUX
cjal-3260	355	3	prohibited	prohibit	VERB
cjal-3260	355	4	(	(	PUNCT
cjal-3260	355	5	under	under	ADP
cjal-3260	355	6	general	general	ADJ
cjal-3260	355	7	principle	principle	NOUN
cjal-3260	355	8	seven	seven	NUM
cjal-3260	355	9	,	,	PUNCT
cjal-3260	355	10	the	the	DET
cjal-3260	355	11	"	"	PUNCT
cjal-3260	355	12	passivity	passivity	NOUN
cjal-3260	355	13	rule	rule	NOUN
cjal-3260	355	14	"	"	PUNCT
cjal-3260	355	15	)	)	PUNCT
cjal-3260	355	16	from	from	ADP
cjal-3260	355	17	taking	take	VERB
cjal-3260	355	18	any	any	DET
cjal-3260	355	19	"	"	PUNCT
cjal-3260	355	20	frustrating	frustrating	ADJ
cjal-3260	355	21	action	action	NOUN
cjal-3260	355	22	"	"	PUNCT
cjal-3260	355	23	i.e.	i.e.	X
cjal-3260	355	24	,	,	PUNCT
cjal-3260	355	25	any	any	DET
cjal-3260	355	26	action	action	NOUN
cjal-3260	355	27	"	"	PUNCT
cjal-3260	355	28	which	which	PRON
cjal-3260	355	29	could	could	AUX
cjal-3260	355	30	effectively	effectively	ADV
cjal-3260	355	31	result	result	VERB
cjal-3260	355	32	in	in	ADP
cjal-3260	355	33	any	any	DET
cjal-3260	355	34	bona	bona	ADJ
cjal-3260	355	35	fide	fide	NOUN
cjal-3260	355	36	offer	offer	NOUN
cjal-3260	355	37	being	be	AUX
cjal-3260	355	38	frustrated	frustrate	VERB
cjal-3260	355	39	or	or	CCONJ
cjal-3260	355	40	in	in	ADP
cjal-3260	355	41	the	the	DET
cjal-3260	355	42	shareholders	shareholder	NOUN
cjal-3260	355	43	being	be	AUX
cjal-3260	355	44	denied	deny	VERB
cjal-3260	355	45	an	an	DET
cjal-3260	355	46	82	82	NUM
cjal-3260	355	47	gilson	gilson	NOUN
cjal-3260	355	48	,	,	PUNCT
cjal-3260	355	49	supra	supra	PROPN
cjal-3260	355	50	note	note	PROPN
cjal-3260	355	51	58	58	NUM
cjal-3260	355	52	,	,	PUNCT
cjal-3260	355	53	at	at	ADP
cjal-3260	355	54	25	25	NUM
cjal-3260	355	55	.	.	PUNCT
cjal-3260	355	56	83	83	NUM
cjal-3260	356	1	d.at	d.at	ADJ
cjal-3260	356	2	35	35	NUM
cjal-3260	356	3	-	-	SYM
cjal-3260	356	4	40	40	NUM
cjal-3260	356	5	.	.	PUNCT
cjal-3260	357	1	84id	84id	NOUN
cjal-3260	357	2	.	.	PUNCT
cjal-3260	358	1	at	at	ADP
cjal-3260	358	2	25	25	NUM
cjal-3260	358	3	.	.	NOUN
cjal-3260	358	4	15	15	NUM
cjal-3260	359	1	i	i	PRON
cjal-3260	359	2	d.	d.	PROPN
cjal-3260	359	3	at	at	ADP
cjal-3260	359	4	33	33	NUM
cjal-3260	359	5	.	.	PUNCT
cjal-3260	360	1	[	[	X
cjal-3260	360	2	20:2	20:2	NUM
cjal-3260	360	3	national	national	ADJ
cjal-3260	360	4	markets	market	NOUN
cjal-3260	360	5	,	,	PUNCT
cjal-3260	360	6	new	new	ADJ
cjal-3260	360	7	defenses	defense	VERB
cjal-3260	360	8	opportunity	opportunity	NOUN
cjal-3260	360	9	to	to	PART
cjal-3260	360	10	decide	decide	VERB
cjal-3260	360	11	on	on	ADP
cjal-3260	360	12	its	its	PRON
cjal-3260	360	13	merits	merit	NOUN
cjal-3260	360	14	.	.	PUNCT
cjal-3260	360	15	"	"	PUNCT
cjal-3260	361	1	86	86	NUM
cjal-3260	361	2	unlike	unlike	ADP
cjal-3260	361	3	american	american	ADJ
cjal-3260	361	4	boards	board	NOUN
cjal-3260	361	5	that	that	PRON
cjal-3260	361	6	are	be	AUX
cjal-3260	361	7	delegated	delegate	VERB
cjal-3260	361	8	authority	authority	NOUN
cjal-3260	361	9	and	and	CCONJ
cjal-3260	361	10	discretion	discretion	NOUN
cjal-3260	361	11	in	in	ADP
cjal-3260	361	12	erecting	erect	VERB
cjal-3260	361	13	pre	pre	ADJ
cjal-3260	361	14	-	-	ADJ
cjal-3260	361	15	bid	bid	ADJ
cjal-3260	361	16	and	and	CCONJ
cjal-3260	361	17	post	post	ADJ
cjal-3260	361	18	-	-	ADJ
cjal-3260	361	19	bid	bid	ADJ
cjal-3260	361	20	barriers	barrier	NOUN
cjal-3260	361	21	to	to	ADP
cjal-3260	361	22	an	an	DET
cjal-3260	361	23	offer	offer	NOUN
cjal-3260	361	24	(	(	PUNCT
cjal-3260	361	25	an	an	DET
cjal-3260	361	26	effective	effective	ADJ
cjal-3260	361	27	veto	veto	NOUN
cjal-3260	361	28	,	,	PUNCT
cjal-3260	361	29	in	in	ADP
cjal-3260	361	30	some	some	DET
cjal-3260	361	31	interpretations	interpretation	NOUN
cjal-3260	361	32	)	)	PUNCT
cjal-3260	361	33	,	,	PUNCT
cjal-3260	361	34	the	the	DET
cjal-3260	361	35	city	city	NOUN
cjal-3260	361	36	code	code	PROPN
cjal-3260	361	37	allows	allow	VERB
cjal-3260	361	38	pre	pre	ADJ
cjal-3260	361	39	-	-	ADJ
cjal-3260	361	40	bid	bid	ADJ
cjal-3260	361	41	barriers	barrier	NOUN
cjal-3260	361	42	only	only	ADV
cjal-3260	361	43	(	(	PUNCT
cjal-3260	361	44	such	such	ADJ
cjal-3260	361	45	as	as	ADP
cjal-3260	361	46	shares	share	NOUN
cjal-3260	361	47	with	with	ADP
cjal-3260	361	48	multiple	multiple	ADJ
cjal-3260	361	49	voting	voting	NOUN
cjal-3260	361	50	rights	right	NOUN
cjal-3260	361	51	)	)	PUNCT
cjal-3260	361	52	and	and	CCONJ
cjal-3260	361	53	no	no	DET
cjal-3260	361	54	post	post	ADJ
cjal-3260	361	55	-	-	ADJ
cjal-3260	361	56	bid	bid	ADJ
cjal-3260	361	57	board	board	NOUN
cjal-3260	361	58	action	action	NOUN
cjal-3260	361	59	regarding	regard	VERB
cjal-3260	361	60	the	the	DET
cjal-3260	361	61	bid	bid	NOUN
cjal-3260	361	62	.	.	PUNCT
cjal-3260	362	1	effectively	effectively	ADV
cjal-3260	362	2	,	,	PUNCT
cjal-3260	362	3	a	a	DET
cjal-3260	362	4	takeover	takeover	NOUN
cjal-3260	362	5	bid	bid	NOUN
cjal-3260	362	6	made	make	VERB
cjal-3260	362	7	to	to	ADP
cjal-3260	362	8	the	the	DET
cjal-3260	362	9	company	company	NOUN
cjal-3260	362	10	is	be	AUX
cjal-3260	362	11	synonymous	synonymous	ADJ
cjal-3260	362	12	with	with	ADP
cjal-3260	362	13	an	an	DET
cjal-3260	362	14	offer	offer	NOUN
cjal-3260	362	15	made	make	VERB
cjal-3260	362	16	directly	directly	ADV
cjal-3260	362	17	to	to	ADP
cjal-3260	362	18	the	the	DET
cjal-3260	362	19	shareholders	shareholder	NOUN
cjal-3260	362	20	.	.	PUNCT
cjal-3260	363	1	the	the	DET
cjal-3260	363	2	law	law	NOUN
cjal-3260	363	3	reflects	reflect	VERB
cjal-3260	363	4	the	the	DET
cjal-3260	363	5	landscape	landscape	NOUN
cjal-3260	363	6	,	,	PUNCT
cjal-3260	363	7	of	of	ADP
cjal-3260	363	8	course	course	NOUN
cjal-3260	363	9	large	large	ADJ
cjal-3260	363	10	institutional	institutional	ADJ
cjal-3260	363	11	shareholders	shareholder	NOUN
cjal-3260	363	12	have	have	AUX
cjal-3260	363	13	long	long	ADV
cjal-3260	363	14	played	play	VERB
cjal-3260	363	15	a	a	DET
cjal-3260	363	16	key	key	ADJ
cjal-3260	363	17	role	role	NOUN
cjal-3260	363	18	in	in	ADP
cjal-3260	363	19	british	british	ADJ
cjal-3260	363	20	corporate	corporate	ADJ
cjal-3260	363	21	governance	governance	NOUN
cjal-3260	363	22	.	.	PUNCT
cjal-3260	364	1	a	a	DET
cjal-3260	364	2	takeover	takeover	NOUN
cjal-3260	364	3	panel	panel	NOUN
cjal-3260	364	4	mediates	mediate	VERB
cjal-3260	364	5	the	the	DET
cjal-3260	364	6	market	market	NOUN
cjal-3260	364	7	for	for	ADP
cjal-3260	364	8	corporate	corporate	ADJ
cjal-3260	364	9	control	control	NOUN
cjal-3260	364	10	in	in	ADP
cjal-3260	364	11	the	the	DET
cjal-3260	364	12	uk	uk	PROPN
cjal-3260	364	13	.	.	PROPN
cjal-3260	365	1	f.	f.	PROPN
cjal-3260	366	1	the	the	DET
cjal-3260	366	2	european	european	PROPN
cjal-3260	366	3	union	union	PROPN
cjal-3260	366	4	:	:	PUNCT
cjal-3260	366	5	the	the	DET
cjal-3260	366	6	optional	optional	ADJ
cjal-3260	366	7	rules	rule	NOUN
cjal-3260	366	8	of	of	ADP
cjal-3260	366	9	the	the	DET
cjal-3260	366	10	thirteenth	thirteenth	ADJ
cjal-3260	366	11	directive	directive	NOUN
cjal-3260	366	12	on	on	ADP
cjal-3260	366	13	takeover	takeover	NOUN
cjal-3260	366	14	bids	bid	NOUN
cjal-3260	366	15	the	the	DET
cjal-3260	366	16	thirty	thirty	NUM
cjal-3260	366	17	years	year	NOUN
cjal-3260	366	18	leading	lead	VERB
cjal-3260	366	19	up	up	ADP
cjal-3260	366	20	to	to	ADP
cjal-3260	366	21	the	the	DET
cjal-3260	366	22	directive	directive	NOUN
cjal-3260	366	23	's	's	PART
cjal-3260	366	24	ratification	ratification	NOUN
cjal-3260	366	25	on	on	ADP
cjal-3260	366	26	may	may	PROPN
cjal-3260	366	27	20	20	NUM
cjal-3260	366	28	,	,	PUNCT
cjal-3260	366	29	2004	2004	NUM
cjal-3260	366	30	highlighted	highlight	VERB
cjal-3260	366	31	the	the	DET
cjal-3260	366	32	differences	difference	NOUN
cjal-3260	366	33	in	in	ADP
cjal-3260	366	34	capital	capital	NOUN
cjal-3260	366	35	structures	structure	NOUN
cjal-3260	366	36	and	and	CCONJ
cjal-3260	366	37	their	their	PRON
cjal-3260	366	38	effects	effect	NOUN
cjal-3260	366	39	on	on	ADP
cjal-3260	366	40	corporate	corporate	ADJ
cjal-3260	366	41	control	control	NOUN
cjal-3260	366	42	among	among	ADP
cjal-3260	366	43	european	european	ADJ
cjal-3260	366	44	nations	nation	NOUN
cjal-3260	366	45	.	.	PUNCT
cjal-3260	367	1	the	the	DET
cjal-3260	367	2	purpose	purpose	NOUN
cjal-3260	367	3	of	of	ADP
cjal-3260	367	4	the	the	DET
cjal-3260	367	5	directive	directive	NOUN
cjal-3260	367	6	on	on	ADP
cjal-3260	367	7	takeover	takeover	NOUN
cjal-3260	367	8	bids	bid	NOUN
cjal-3260	367	9	(	(	PUNCT
cjal-3260	367	10	dtb	dtb	PROPN
cjal-3260	367	11	)	)	PUNCT
cjal-3260	367	12	is	be	AUX
cjal-3260	367	13	to	to	PART
cjal-3260	367	14	harmonize	harmonize	VERB
cjal-3260	367	15	national	national	ADJ
cjal-3260	367	16	law	law	NOUN
cjal-3260	367	17	and	and	CCONJ
cjal-3260	367	18	capital	capital	NOUN
cjal-3260	367	19	market	market	NOUN
cjal-3260	367	20	regimes	regime	NOUN
cjal-3260	367	21	to	to	PART
cjal-3260	367	22	create	create	VERB
cjal-3260	367	23	a	a	DET
cjal-3260	367	24	level	level	NOUN
cjal-3260	367	25	playing	playing	NOUN
cjal-3260	367	26	field	field	NOUN
cjal-3260	367	27	among	among	ADP
cjal-3260	367	28	european	european	ADJ
cjal-3260	367	29	companies	company	NOUN
cjal-3260	367	30	in	in	ADP
cjal-3260	367	31	the	the	DET
cjal-3260	367	32	market	market	NOUN
cjal-3260	367	33	for	for	ADP
cjal-3260	367	34	corporate	corporate	ADJ
cjal-3260	367	35	control	control	NOUN
cjal-3260	367	36	.	.	PUNCT
cjal-3260	368	1	8	8	NUM
cjal-3260	368	2	specifically	specifically	ADV
cjal-3260	368	3	,	,	PUNCT
cjal-3260	368	4	the	the	DET
cjal-3260	368	5	dtb	dtb	NOUN
cjal-3260	368	6	set	set	VERB
cjal-3260	368	7	out	out	ADP
cjal-3260	368	8	to	to	PART
cjal-3260	368	9	:	:	PUNCT
cjal-3260	368	10	create	create	VERB
cjal-3260	368	11	a	a	DET
cjal-3260	368	12	uniform	uniform	ADJ
cjal-3260	368	13	floor	floor	NOUN
cjal-3260	368	14	of	of	ADP
cjal-3260	368	15	minority	minority	NOUN
cjal-3260	368	16	shareholder	shareholder	NOUN
cjal-3260	368	17	protection	protection	NOUN
cjal-3260	368	18	for	for	ADP
cjal-3260	368	19	takeover	takeover	NOUN
cjal-3260	368	20	targets	target	NOUN
cjal-3260	368	21	;	;	PUNCT
cjal-3260	368	22	create	create	VERB
cjal-3260	368	23	a	a	DET
cjal-3260	368	24	framework	framework	NOUN
cjal-3260	368	25	for	for	ADP
cjal-3260	368	26	determining	determine	VERB
cjal-3260	368	27	which	which	DET
cjal-3260	368	28	legal	legal	ADJ
cjal-3260	368	29	authority	authority	NOUN
cjal-3260	368	30	will	will	AUX
cjal-3260	368	31	supervise	supervise	VERB
cjal-3260	368	32	takeovers	takeover	NOUN
cjal-3260	368	33	and	and	CCONJ
cjal-3260	368	34	enforce	enforce	VERB
cjal-3260	368	35	the	the	DET
cjal-3260	368	36	new	new	ADJ
cjal-3260	368	37	rules	rule	NOUN
cjal-3260	368	38	;	;	PUNCT
cjal-3260	368	39	and	and	CCONJ
cjal-3260	368	40	impose	impose	VERB
cjal-3260	368	41	disclosure	disclosure	NOUN
cjal-3260	368	42	and	and	CCONJ
cjal-3260	368	43	procedural	procedural	ADJ
cjal-3260	368	44	requirements	requirement	NOUN
cjal-3260	368	45	on	on	ADP
cjal-3260	368	46	bidders	bidder	NOUN
cjal-3260	368	47	,	,	PUNCT
cjal-3260	368	48	including	include	VERB
cjal-3260	368	49	the	the	DET
cjal-3260	368	50	requirement	requirement	NOUN
cjal-3260	368	51	of	of	ADP
cjal-3260	368	52	a	a	DET
cjal-3260	368	53	mandatory	mandatory	ADJ
cjal-3260	368	54	bid	bid	NOUN
cjal-3260	368	55	once	once	ADV
cjal-3260	368	56	a	a	DET
cjal-3260	368	57	bidder	bidder	NOUN
cjal-3260	368	58	acquired	acquire	VERB
cjal-3260	368	59	a	a	DET
cjal-3260	368	60	control	control	NOUN
cjal-3260	368	61	block	block	NOUN
cjal-3260	368	62	,	,	PUNCT
cjal-3260	368	63	at	at	ADP
cjal-3260	368	64	a	a	DET
cjal-3260	368	65	threshold	threshold	NOUN
cjal-3260	368	66	to	to	PART
cjal-3260	368	67	be	be	AUX
cjal-3260	368	68	specified	specify	VERB
cjal-3260	368	69	by	by	ADP
cjal-3260	368	70	member	member	NOUN
cjal-3260	368	71	states	state	NOUN
cjal-3260	368	72	.	.	PUNCT
cjal-3260	369	1	88	88	NUM
cjal-3260	369	2	the	the	DET
cjal-3260	369	3	most	most	ADV
cjal-3260	369	4	ambitious	ambitious	ADJ
cjal-3260	369	5	goal	goal	NOUN
cjal-3260	369	6	attempted	attempt	VERB
cjal-3260	369	7	in	in	ADP
cjal-3260	369	8	the	the	DET
cjal-3260	369	9	harmonization	harmonization	NOUN
cjal-3260	369	10	process	process	NOUN
cjal-3260	369	11	was	be	AUX
cjal-3260	369	12	ridding	rid	VERB
cjal-3260	369	13	european	european	ADJ
cjal-3260	369	14	companies	company	NOUN
cjal-3260	369	15	of	of	ADP
cjal-3260	369	16	the	the	DET
cjal-3260	369	17	effects	effect	NOUN
cjal-3260	369	18	of	of	ADP
cjal-3260	369	19	cms	cms	NOUN
cjal-3260	369	20	structures	structure	NOUN
cjal-3260	369	21	.	.	PUNCT
cjal-3260	370	1	a	a	DET
cjal-3260	370	2	86	86	NUM
cjal-3260	370	3	paul	paul	PROPN
cjal-3260	370	4	davies	davies	PROPN
cjal-3260	370	5	&	&	CCONJ
cjal-3260	370	6	klaus	klaus	PROPN
cjal-3260	370	7	hopt	hopt	VERB
cjal-3260	370	8	,	,	PUNCT
cjal-3260	370	9	control	control	NOUN
cjal-3260	370	10	transactions	transaction	NOUN
cjal-3260	370	11	,	,	PUNCT
cjal-3260	370	12	in	in	ADP
cjal-3260	370	13	the	the	DET
cjal-3260	370	14	anatomy	anatomy	NOUN
cjal-3260	370	15	of	of	ADP
cjal-3260	370	16	corporate	corporate	ADJ
cjal-3260	370	17	law	law	NOUN
cjal-3260	370	18	:	:	PUNCT
cjal-3260	370	19	a	a	DET
cjal-3260	370	20	comparative	comparative	ADJ
cjal-3260	370	21	and	and	CCONJ
cjal-3260	370	22	functional	functional	ADJ
cjal-3260	370	23	approach	approach	NOUN
cjal-3260	370	24	157	157	NUM
cjal-3260	370	25	,	,	PUNCT
cjal-3260	370	26	166	166	NUM
cjal-3260	370	27	(	(	PUNCT
cjal-3260	370	28	reinier	reinier	ADJ
cjal-3260	370	29	kraakman	kraakman	NOUN
cjal-3260	370	30	,	,	PUNCT
cjal-3260	370	31	paul	paul	PROPN
cjal-3260	370	32	davies	davies	PROPN
cjal-3260	370	33	,	,	PUNCT
cjal-3260	370	34	henry	henry	PROPN
cjal-3260	370	35	hansmann	hansmann	PROPN
cjal-3260	370	36	,	,	PUNCT
cjal-3260	370	37	gerard	gerard	PROPN
cjal-3260	370	38	hertig	hertig	PROPN
cjal-3260	370	39	,	,	PUNCT
cjal-3260	370	40	klaus	klaus	PROPN
cjal-3260	370	41	hopt	hopt	PROPN
cjal-3260	370	42	,	,	PUNCT
cjal-3260	370	43	hideki	hideki	PROPN
cjal-3260	370	44	kanda	kanda	PROPN
cjal-3260	370	45	&	&	CCONJ
cjal-3260	370	46	edward	edward	PROPN
cjal-3260	370	47	rock	rock	PROPN
cjal-3260	370	48	eds	eds	PROPN
cjal-3260	370	49	.	.	PROPN
cjal-3260	370	50	,	,	PUNCT
cjal-3260	370	51	2004	2004	NUM
cjal-3260	370	52	)	)	PUNCT
cjal-3260	370	53	.	.	PUNCT
cjal-3260	371	1	87	87	NUM
cjal-3260	371	2	juergen	juergen	PROPN
cjal-3260	371	3	reemers	reemer	NOUN
cjal-3260	371	4	,	,	PUNCT
cjal-3260	371	5	adrien	adrien	PROPN
cjal-3260	371	6	fournier	fournier	PROPN
cjal-3260	371	7	de	de	PROPN
cjal-3260	371	8	launay	launay	PROPN
cjal-3260	371	9	&	&	CCONJ
cjal-3260	371	10	hanno	hanno	PROPN
cjal-3260	371	11	p.	p.	PROPN
cjal-3260	371	12	schultze	schultze	PROPN
cjal-3260	371	13	enden	enden	PROPN
cjal-3260	371	14	,	,	PUNCT
cjal-3260	371	15	the	the	DET
cjal-3260	371	16	european	european	ADJ
cjal-3260	371	17	directive	directive	NOUN
cjal-3260	371	18	on	on	ADP
cjal-3260	371	19	takeover	takeover	NOUN
cjal-3260	371	20	bids	bid	NOUN
cjal-3260	371	21	:	:	PUNCT
cjal-3260	371	22	a	a	DET
cjal-3260	371	23	comparison	comparison	NOUN
cjal-3260	371	24	with	with	ADP
cjal-3260	371	25	u.s	u.s	PROPN
cjal-3260	371	26	.	.	PROPN
cjal-3260	371	27	tender	tender	PROPN
cjal-3260	371	28	offer	offer	PROPN
cjal-3260	371	29	pratice	pratice	PROPN
cjal-3260	371	30	,	,	PUNCT
cjal-3260	371	31	jones	jones	PROPN
cjal-3260	371	32	day	day	PROPN
cjal-3260	371	33	prac	prac	PROPN
cjal-3260	371	34	.	.	PUNCT
cjal-3260	372	1	perspectives	perspective	NOUN
cjal-3260	372	2	q.	q.	PROPN
cjal-3260	372	3	(	(	PUNCT
cjal-3260	372	4	summer	summer	NOUN
cjal-3260	372	5	2005	2005	NUM
cjal-3260	372	6	)	)	PUNCT
cjal-3260	372	7	,	,	PUNCT
cjal-3260	372	8	available	available	ADJ
cjal-3260	372	9	at	at	ADP
cjal-3260	372	10	http://www.jonesday.com/pubs/pubsdetail.aspx?publd=s2875	http://www.jonesday.com/pubs/pubsdetail.aspx?publd=s2875	NOUN
cjal-3260	372	11	.	.	PUNCT
cjal-3260	373	1	88	88	NUM
cjal-3260	373	2	john	john	PROPN
cjal-3260	373	3	c.	c.	PROPN
cjal-3260	373	4	coates	coates	PROPN
cjal-3260	373	5	iv	iv	NUM
cjal-3260	373	6	,	,	PUNCT
cjal-3260	373	7	ownership	ownership	NOUN
cjal-3260	373	8	,	,	PUNCT
cjal-3260	373	9	takeovers	takeover	NOUN
cjal-3260	373	10	and	and	CCONJ
cjal-3260	373	11	eu	eu	PROPN
cjal-3260	373	12	law	law	NOUN
cjal-3260	373	13	:	:	PUNCT
cjal-3260	373	14	how	how	SCONJ
cjal-3260	373	15	contestable	contestable	ADJ
cjal-3260	373	16	should	should	AUX
cjal-3260	373	17	eu	eu	PROPN
cjal-3260	373	18	corporations	corporation	NOUN
cjal-3260	373	19	be	be	AUX
cjal-3260	373	20	?	?	ADP
cjal-3260	373	21	2	2	NUM
cjal-3260	373	22	(	(	PUNCT
cjal-3260	373	23	july	july	PROPN
cjal-3260	373	24	9	9	NUM
cjal-3260	373	25	,	,	PUNCT
cjal-3260	373	26	2003	2003	NUM
cjal-3260	373	27	)	)	PUNCT
cjal-3260	374	1	(	(	PUNCT
cjal-3260	374	2	harv	harv	PROPN
cjal-3260	374	3	.	.	PUNCT
cjal-3260	375	1	l.	l.	PROPN
cjal-3260	375	2	&	&	CCONJ
cjal-3260	375	3	econ	econ	PROPN
cjal-3260	375	4	.	.	PUNCT
cjal-3260	376	1	discussion	discussion	NOUN
cjal-3260	376	2	paper	paper	NOUN
cjal-3260	376	3	no	no	NOUN
cjal-3260	376	4	.	.	PROPN
cjal-3260	377	1	450	450	NUM
cjal-3260	377	2	)	)	PUNCT
cjal-3260	377	3	,	,	PUNCT
cjal-3260	377	4	available	available	ADJ
cjal-3260	377	5	at	at	ADP
cjal-3260	377	6	http://papers.ssm.com/sol3/papers.cfm?abstract-id=424720	http://papers.ssm.com/sol3/papers.cfm?abstract-id=424720	PROPN
cjal-3260	377	7	.	.	PUNCT
cjal-3260	378	1	2007	2007	NUM
cjal-3260	378	2	]	]	PUNCT
cjal-3260	378	3	col	col	PROPN
cjal-3260	378	4	umbia	umbia	PROPN
cjal-3260	378	5	journal	journal	PROPN
cjal-3260	378	6	of	of	ADP
cjal-3260	378	7	asian	asian	PROPN
cjal-3260	378	8	la	la	PROPN
cjal-3260	378	9	w	w	PROPN
cjal-3260	378	10	radical	radical	ADJ
cjal-3260	378	11	legal	legal	ADJ
cjal-3260	378	12	mechanism	mechanism	NOUN
cjal-3260	378	13	called	call	VERB
cjal-3260	378	14	the	the	DET
cjal-3260	378	15	"	"	PUNCT
cjal-3260	378	16	break	break	NOUN
cjal-3260	378	17	through	through	ADP
cjal-3260	378	18	rule	rule	NOUN
cjal-3260	378	19	"	"	PUNCT
cjal-3260	378	20	would	would	AUX
cjal-3260	378	21	allow	allow	VERB
cjal-3260	378	22	a	a	DET
cjal-3260	378	23	"	"	PUNCT
cjal-3260	378	24	bidder	bidder	NOUN
cjal-3260	378	25	acquiring	acquire	VERB
cjal-3260	378	26	more	more	ADJ
cjal-3260	378	27	than	than	ADP
cjal-3260	378	28	a	a	DET
cjal-3260	378	29	majority	majority	NOUN
cjal-3260	378	30	...	...	PUNCT
cjal-3260	378	31	of	of	ADP
cjal-3260	378	32	the	the	DET
cjal-3260	378	33	target	target	NOUN
cjal-3260	378	34	's	's	PART
cjal-3260	378	35	cash	cash	NOUN
cjal-3260	378	36	flow	flow	NOUN
cjal-3260	378	37	rights	right	NOUN
cjal-3260	378	38	to	to	PART
cjal-3260	378	39	'	'	PUNCT
cjal-3260	378	40	break	break	VERB
cjal-3260	378	41	through	through	ADP
cjal-3260	378	42	'	'	PUNCT
cjal-3260	378	43	any	any	DET
cjal-3260	378	44	mechanism	mechanism	NOUN
cjal-3260	378	45	or	or	CCONJ
cjal-3260	378	46	structure	structure	NOUN
cjal-3260	378	47	that	that	PRON
cjal-3260	378	48	frustrates	frustrate	VERB
cjal-3260	378	49	its	its	PRON
cjal-3260	378	50	control	control	NOUN
cjal-3260	378	51	of	of	ADP
cjal-3260	378	52	the	the	DET
cjal-3260	378	53	target	target	NOUN
cjal-3260	378	54	.	.	PUNCT
cjal-3260	379	1	,	,	PUNCT
cjal-3260	379	2	89	89	NUM
cjal-3260	379	3	the	the	DET
cjal-3260	379	4	break	break	NOUN
cjal-3260	379	5	-	-	PUNCT
cjal-3260	379	6	through	through	ADP
cjal-3260	379	7	rule	rule	NOUN
cjal-3260	379	8	would	would	AUX
cjal-3260	379	9	cancel	cancel	VERB
cjal-3260	379	10	the	the	DET
cjal-3260	379	11	effects	effect	NOUN
cjal-3260	379	12	of	of	ADP
cjal-3260	379	13	multiple	multiple	ADJ
cjal-3260	379	14	class	class	NOUN
cjal-3260	379	15	capital	capital	NOUN
cjal-3260	379	16	structures	structure	NOUN
cjal-3260	379	17	and	and	CCONJ
cjal-3260	379	18	various	various	ADJ
cjal-3260	379	19	voting	voting	NOUN
cjal-3260	379	20	restrictions	restriction	NOUN
cjal-3260	379	21	common	common	ADJ
cjal-3260	379	22	in	in	ADP
cjal-3260	379	23	europe	europe	PROPN
cjal-3260	379	24	.	.	PUNCT
cjal-3260	380	1	"	"	PUNCT
cjal-3260	380	2	in	in	ADP
cjal-3260	380	3	general	general	ADJ
cjal-3260	380	4	terms	term	NOUN
cjal-3260	380	5	,	,	PUNCT
cjal-3260	380	6	the	the	DET
cjal-3260	380	7	goal	goal	NOUN
cjal-3260	380	8	of	of	ADP
cjal-3260	380	9	the	the	DET
cjal-3260	380	10	btr	btr	PROPN
cjal-3260	380	11	is	be	AUX
cjal-3260	380	12	the	the	DET
cjal-3260	380	13	same	same	ADJ
cjal-3260	380	14	as	as	ADP
cjal-3260	380	15	the	the	DET
cjal-3260	380	16	overall	overall	ADJ
cjal-3260	380	17	goal	goal	NOUN
cjal-3260	380	18	of	of	ADP
cjal-3260	380	19	the	the	DET
cjal-3260	380	20	dtb	dtb	NOUN
cjal-3260	380	21	to	to	PART
cjal-3260	380	22	transform	transform	VERB
cjal-3260	380	23	control	control	NOUN
cjal-3260	380	24	of	of	ADP
cjal-3260	380	25	listed	list	VERB
cjal-3260	380	26	eu	eu	PROPN
cjal-3260	380	27	firms	firm	NOUN
cjal-3260	380	28	into	into	ADP
cjal-3260	380	29	a	a	DET
cjal-3260	380	30	commodity	commodity	NOUN
cjal-3260	380	31	available	available	ADJ
cjal-3260	380	32	for	for	ADP
cjal-3260	380	33	purchase	purchase	NOUN
cjal-3260	380	34	throughout	throughout	ADP
cjal-3260	380	35	(	(	PUNCT
cjal-3260	380	36	and	and	CCONJ
cjal-3260	380	37	outside	outside	ADV
cjal-3260	380	38	)	)	PUNCT
cjal-3260	380	39	the	the	DET
cjal-3260	380	40	eu	eu	PROPN
cjal-3260	380	41	.	.	PUNCT
cjal-3260	380	42	"	"	PUNCT
cjal-3260	381	1	90	90	NUM
cjal-3260	381	2	the	the	DET
cjal-3260	381	3	breakthrough	breakthrough	NOUN
cjal-3260	381	4	rule	rule	NOUN
cjal-3260	381	5	functions	function	NOUN
cjal-3260	381	6	to	to	PART
cjal-3260	381	7	strip	strip	VERB
cjal-3260	381	8	shares	share	NOUN
cjal-3260	381	9	of	of	ADP
cjal-3260	381	10	special	special	ADJ
cjal-3260	381	11	voting	voting	NOUN
cjal-3260	381	12	characteristics	characteristic	NOUN
cjal-3260	381	13	and	and	CCONJ
cjal-3260	381	14	achieves	achieve	VERB
cjal-3260	381	15	a	a	DET
cjal-3260	381	16	one	one	NUM
cjal-3260	381	17	-	-	PUNCT
cjal-3260	381	18	share	share	NOUN
cjal-3260	381	19	,	,	PUNCT
cjal-3260	381	20	one	one	NUM
cjal-3260	381	21	-	-	PUNCT
cjal-3260	381	22	vote	vote	NOUN
cjal-3260	381	23	result	result	NOUN
cjal-3260	381	24	;	;	PUNCT
cjal-3260	381	25	voting	vote	VERB
cjal-3260	381	26	restrictions	restriction	NOUN
cjal-3260	381	27	or	or	CCONJ
cjal-3260	381	28	multiple	multiple	ADJ
cjal-3260	381	29	voting	voting	NOUN
cjal-3260	381	30	provisions	provision	NOUN
cjal-3260	381	31	would	would	AUX
cjal-3260	381	32	be	be	AUX
cjal-3260	381	33	deemed	deem	VERB
cjal-3260	381	34	unenforceable	unenforceable	ADJ
cjal-3260	381	35	.	.	PUNCT
cjal-3260	382	1	the	the	DET
cjal-3260	382	2	btr	btr	PROPN
cjal-3260	382	3	would	would	AUX
cjal-3260	382	4	not	not	PART
cjal-3260	382	5	affect	affect	VERB
cjal-3260	382	6	stock	stock	NOUN
cjal-3260	382	7	pyramids	pyramid	NOUN
cjal-3260	382	8	and	and	CCONJ
cjal-3260	382	9	cross	cross	ADJ
cjal-3260	382	10	-	-	ADJ
cjal-3260	382	11	shareholding	shareholding	ADJ
cjal-3260	382	12	structures	structure	NOUN
cjal-3260	382	13	for	for	ADP
cjal-3260	382	14	reasons	reason	NOUN
cjal-3260	382	15	of	of	ADP
cjal-3260	382	16	"	"	PUNCT
cjal-3260	382	17	practicality	practicality	NOUN
cjal-3260	382	18	,	,	PUNCT
cjal-3260	382	19	"	"	PUNCT
cjal-3260	382	20	though	though	SCONJ
cjal-3260	382	21	the	the	DET
cjal-3260	382	22	eu	eu	PROPN
cjal-3260	382	23	's	's	PART
cjal-3260	382	24	takeover	takeover	NOUN
cjal-3260	382	25	bid	bid	NOUN
cjal-3260	382	26	report	report	NOUN
cjal-3260	382	27	of	of	ADP
cjal-3260	382	28	january	january	PROPN
cjal-3260	382	29	2002	2002	NUM
cjal-3260	382	30	"	"	PUNCT
cjal-3260	382	31	singles	single	VERB
cjal-3260	382	32	out	out	ADP
cjal-3260	382	33	pyramids	pyramid	NOUN
cjal-3260	382	34	as	as	ADP
cjal-3260	382	35	'	'	PUNCT
cjal-3260	382	36	difficult	difficult	ADJ
cjal-3260	382	37	to	to	PART
cjal-3260	382	38	justify	justify	VERB
cjal-3260	382	39	from	from	ADP
cjal-3260	382	40	a	a	DET
cjal-3260	382	41	general	general	ADJ
cjal-3260	382	42	capital	capital	NOUN
cjal-3260	382	43	markets	market	NOUN
cjal-3260	382	44	and	and	CCONJ
cjal-3260	382	45	company	company	NOUN
cjal-3260	382	46	law	law	NOUN
cjal-3260	382	47	perspective	perspective	NOUN
cjal-3260	382	48	.	.	PUNCT
cjal-3260	383	1	"	"	PUNCT
cjal-3260	383	2	'	'	PUNCT
cjal-3260	383	3	91	91	NUM
cjal-3260	383	4	looking	look	VERB
cjal-3260	383	5	at	at	ADP
cjal-3260	383	6	the	the	DET
cjal-3260	383	7	likely	likely	ADJ
cjal-3260	383	8	effect	effect	NOUN
cjal-3260	383	9	of	of	ADP
cjal-3260	383	10	the	the	DET
cjal-3260	383	11	break	break	NOUN
cjal-3260	383	12	-	-	PUNCT
cjal-3260	383	13	through	through	ADP
cjal-3260	383	14	rule	rule	NOUN
cjal-3260	383	15	,	,	PUNCT
cjal-3260	383	16	bebchuk	bebchuk	PROPN
cjal-3260	383	17	and	and	CCONJ
cjal-3260	383	18	hart	hart	PROPN
cjal-3260	383	19	predicted	predict	VERB
cjal-3260	383	20	in	in	ADP
cjal-3260	383	21	a	a	DET
cjal-3260	383	22	2002	2002	NUM
cjal-3260	383	23	financial	financial	ADJ
cjal-3260	383	24	times	time	NOUN
cjal-3260	383	25	piece	piece	NOUN
cjal-3260	383	26	that	that	SCONJ
cjal-3260	383	27	firms	firm	NOUN
cjal-3260	383	28	would	would	AUX
cjal-3260	383	29	switch	switch	VERB
cjal-3260	383	30	from	from	ADP
cjal-3260	383	31	their	their	PRON
cjal-3260	383	32	dual	dual	ADJ
cjal-3260	383	33	class	class	NOUN
cjal-3260	383	34	share	share	NOUN
cjal-3260	383	35	structure	structure	NOUN
cjal-3260	383	36	to	to	ADP
cjal-3260	383	37	a	a	DET
cjal-3260	383	38	pyramid	pyramid	NOUN
cjal-3260	383	39	form	form	NOUN
cjal-3260	383	40	of	of	ADP
cjal-3260	383	41	cms	cms	NOUN
cjal-3260	383	42	to	to	PART
cjal-3260	383	43	continue	continue	VERB
cjal-3260	383	44	disproportionate	disproportionate	ADJ
cjal-3260	383	45	control	control	NOUN
cjal-3260	383	46	with	with	ADP
cjal-3260	383	47	a	a	DET
cjal-3260	383	48	minority	minority	NOUN
cjal-3260	383	49	equity	equity	NOUN
cjal-3260	383	50	interest	interest	NOUN
cjal-3260	383	51	.	.	PUNCT
cjal-3260	384	1	92	92	NUM
cjal-3260	384	2	others	other	NOUN
cjal-3260	384	3	argued	argue	VERB
cjal-3260	384	4	that	that	SCONJ
cjal-3260	384	5	it	it	PRON
cjal-3260	384	6	would	would	AUX
cjal-3260	384	7	be	be	AUX
cjal-3260	384	8	expensive	expensive	ADJ
cjal-3260	384	9	and	and	CCONJ
cjal-3260	384	10	difficult	difficult	ADJ
cjal-3260	384	11	to	to	PART
cjal-3260	384	12	achieve	achieve	VERB
cjal-3260	384	13	the	the	DET
cjal-3260	384	14	same	same	ADJ
cjal-3260	384	15	ten	ten	NUM
cjal-3260	384	16	-	-	PUNCT
cjal-3260	384	17	to	to	ADP
cjal-3260	384	18	-	-	PUNCT
cjal-3260	384	19	one	one	NUM
cjal-3260	384	20	voting	voting	NOUN
cjal-3260	384	21	power	power	NOUN
cjal-3260	384	22	lost	lose	VERB
cjal-3260	384	23	under	under	ADP
cjal-3260	384	24	the	the	DET
cjal-3260	384	25	btr	btr	NOUN
cjal-3260	384	26	(	(	PUNCT
cjal-3260	384	27	requiring	require	VERB
cjal-3260	384	28	at	at	ADV
cjal-3260	384	29	least	least	ADJ
cjal-3260	384	30	a	a	DET
cjal-3260	384	31	three	three	NUM
cjal-3260	384	32	-	-	PUNCT
cjal-3260	384	33	level	level	NOUN
cjal-3260	384	34	pyramid	pyramid	NOUN
cjal-3260	384	35	or	or	CCONJ
cjal-3260	384	36	reincorporation	reincorporation	NOUN
cjal-3260	384	37	outside	outside	ADP
cjal-3260	384	38	the	the	DET
cjal-3260	384	39	eu	eu	PROPN
cjal-3260	384	40	)	)	PUNCT
cjal-3260	384	41	and	and	CCONJ
cjal-3260	384	42	therefore	therefore	ADV
cjal-3260	384	43	be	be	AUX
cjal-3260	384	44	a	a	DET
cjal-3260	384	45	less	less	ADV
cjal-3260	384	46	likely	likely	ADJ
cjal-3260	384	47	substitute,93	substitute,93	NOUN
cjal-3260	384	48	while	while	SCONJ
cjal-3260	384	49	others	other	NOUN
cjal-3260	384	50	concluded	conclude	VERB
cjal-3260	384	51	that	that	SCONJ
cjal-3260	384	52	the	the	DET
cjal-3260	384	53	btr	btr	NOUN
cjal-3260	384	54	would	would	AUX
cjal-3260	384	55	render	render	VERB
cjal-3260	384	56	less	less	ADJ
cjal-3260	384	57	than	than	ADP
cjal-3260	384	58	three	three	NUM
cjal-3260	384	59	to	to	PART
cjal-3260	384	60	four	four	NUM
cjal-3260	384	61	percent	percent	NOUN
cjal-3260	384	62	of	of	ADP
cjal-3260	384	63	eu	eu	PROPN
cjal-3260	384	64	firms	firm	NOUN
cjal-3260	384	65	vulnerable	vulnerable	ADJ
cjal-3260	384	66	to	to	ADP
cjal-3260	384	67	takeover	takeover	NOUN
cjal-3260	384	68	.	.	PUNCT
cjal-3260	385	1	94	94	NUM
cjal-3260	385	2	though	though	SCONJ
cjal-3260	385	3	small	small	ADJ
cjal-3260	385	4	in	in	ADP
cjal-3260	385	5	number	number	NOUN
cjal-3260	385	6	,	,	PUNCT
cjal-3260	385	7	some	some	PRON
cjal-3260	385	8	of	of	ADP
cjal-3260	385	9	the	the	DET
cjal-3260	385	10	firms	firm	NOUN
cjal-3260	385	11	that	that	PRON
cjal-3260	385	12	would	would	AUX
cjal-3260	385	13	be	be	AUX
cjal-3260	385	14	affected	affect	VERB
cjal-3260	385	15	are	be	AUX
cjal-3260	385	16	"	"	PUNCT
cjal-3260	385	17	quite	quite	ADV
cjal-3260	385	18	large	large	ADJ
cjal-3260	385	19	,	,	PUNCT
cjal-3260	385	20	"	"	PUNCT
cjal-3260	385	21	including	include	VERB
cjal-3260	385	22	"	"	PUNCT
cjal-3260	385	23	[	[	X
cjal-3260	385	24	a]t	a]t	ADJ
cjal-3260	385	25	least	least	ADV
cjal-3260	385	26	20	20	NUM
cjal-3260	385	27	of	of	ADP
cjal-3260	385	28	the	the	DET
cjal-3260	385	29	500	500	NUM
cjal-3260	385	30	largest	large	ADJ
cjal-3260	385	31	firms	firm	NOUN
cjal-3260	385	32	in	in	ADP
cjal-3260	385	33	the	the	DET
cjal-3260	385	34	eu	eu	PROPN
cjal-3260	385	35	.	.	PROPN
cjal-3260	385	36	",95	",95	PUNCT
cjal-3260	385	37	coates	coates	PROPN
cjal-3260	385	38	concluded	conclude	VERB
cjal-3260	385	39	that	that	SCONJ
cjal-3260	385	40	to	to	ADP
cjal-3260	385	41	the	the	DET
cjal-3260	385	42	extent	extent	NOUN
cjal-3260	385	43	firms	firm	NOUN
cjal-3260	385	44	moved	move	VERB
cjal-3260	385	45	to	to	PART
cjal-3260	385	46	pyramid	pyramid	VERB
cjal-3260	385	47	structures	structure	NOUN
cjal-3260	385	48	or	or	CCONJ
cjal-3260	385	49	crossholdings	crossholding	NOUN
cjal-3260	385	50	(	(	PUNCT
cjal-3260	385	51	including	include	VERB
cjal-3260	385	52	the	the	DET
cjal-3260	385	53	possibility	possibility	NOUN
cjal-3260	385	54	of	of	ADP
cjal-3260	385	55	existing	exist	VERB
cjal-3260	385	56	firms	firm	NOUN
cjal-3260	385	57	and	and	CCONJ
cjal-3260	385	58	newly	newly	ADV
cjal-3260	385	59	public	public	ADJ
cjal-3260	385	60	firms	firm	NOUN
cjal-3260	385	61	choosing	choose	VERB
cjal-3260	385	62	these	these	DET
cjal-3260	385	63	cms	cms	NOUN
cjal-3260	385	64	substitutes	substitute	NOUN
cjal-3260	385	65	for	for	ADP
cjal-3260	385	66	the	the	DET
cjal-3260	385	67	dual	dual	ADJ
cjal-3260	385	68	class	class	NOUN
cjal-3260	385	69	shares	share	NOUN
cjal-3260	385	70	defeated	defeat	VERB
cjal-3260	385	71	by	by	ADP
cjal-3260	385	72	a	a	DET
cjal-3260	385	73	break	break	NOUN
cjal-3260	385	74	-	-	PUNCT
cjal-3260	385	75	through	through	ADP
cjal-3260	385	76	rule	rule	NOUN
cjal-3260	385	77	)	)	PUNCT
cjal-3260	385	78	to	to	PART
cjal-3260	385	79	retain	retain	VERB
cjal-3260	385	80	control	control	NOUN
cjal-3260	385	81	,	,	PUNCT
cjal-3260	385	82	the	the	DET
cjal-3260	385	83	net	net	ADJ
cjal-3260	385	84	effect	effect	NOUN
cjal-3260	385	85	would	would	AUX
cjal-3260	385	86	be	be	AUX
cjal-3260	385	87	a	a	DET
cjal-3260	385	88	reduction	reduction	NOUN
cjal-3260	385	89	in	in	ADP
cjal-3260	385	90	transparency	transparency	NOUN
cjal-3260	385	91	and	and	CCONJ
cjal-3260	385	92	impairment	impairment	NOUN
cjal-3260	385	93	of	of	ADP
cjal-3260	385	94	capital	capital	NOUN
cjal-3260	385	95	markets	market	NOUN
cjal-3260	385	96	outside	outside	ADP
cjal-3260	385	97	the	the	DET
cjal-3260	385	98	'	'	NUM
cjal-3260	385	99	9	9	NUM
cjal-3260	385	100	i	i	PROPN
cjal-3260	385	101	d.	d.	PROPN
cjal-3260	385	102	at3	at3	PROPN
cjal-3260	385	103	.	.	PROPN
cjal-3260	386	1	90	90	NUM
cjal-3260	387	1	i	i	PRON
cjal-3260	387	2	d.	d.	PROPN
cjal-3260	387	3	91	91	NUM
cjal-3260	388	1	i	i	PROPN
cjal-3260	388	2	d	d	PROPN
cjal-3260	388	3	at	at	ADP
cjal-3260	388	4	8	8	NUM
cjal-3260	388	5	,	,	PUNCT
cjal-3260	388	6	n.24	n.24	PROPN
cjal-3260	388	7	(	(	PUNCT
cjal-3260	388	8	quoting	quote	VERB
cjal-3260	388	9	the	the	DET
cjal-3260	388	10	takeover	takeover	NOUN
cjal-3260	388	11	bid	bid	NOUN
cjal-3260	388	12	report	report	NOUN
cjal-3260	388	13	)	)	PUNCT
cjal-3260	388	14	.	.	PUNCT
cjal-3260	389	1	92	92	NUM
cjal-3260	389	2	lucian	lucian	PROPN
cjal-3260	389	3	a.	a.	NOUN
cjal-3260	389	4	bebchuk	bebchuk	PROPN
cjal-3260	389	5	&	&	CCONJ
cjal-3260	389	6	oliver	oliver	PROPN
cjal-3260	389	7	hart	hart	PROPN
cjal-3260	389	8	,	,	PUNCT
cjal-3260	389	9	a	a	DET
cjal-3260	389	10	threat	threat	NOUN
cjal-3260	389	11	to	to	ADP
cjal-3260	389	12	dual	dual	ADJ
cjal-3260	389	13	class	class	NOUN
cjal-3260	389	14	shares	share	NOUN
cjal-3260	389	15	,	,	PUNCT
cjal-3260	389	16	fin	fin	NOUN
cjal-3260	389	17	.	.	PUNCT
cjal-3260	389	18	times	times	PROPN
cjal-3260	389	19	(	(	PUNCT
cjal-3260	389	20	london	london	PROPN
cjal-3260	389	21	)	)	PUNCT
cjal-3260	389	22	,	,	PUNCT
cjal-3260	389	23	may	may	AUX
cjal-3260	389	24	3	3	NUM
cjal-3260	389	25	1	1	NUM
cjal-3260	389	26	,	,	PUNCT
cjal-3260	389	27	2002	2002	NUM
cjal-3260	389	28	,	,	PUNCT
cjal-3260	389	29	at	at	ADP
cjal-3260	389	30	13	13	NUM
cjal-3260	389	31	.	.	PUNCT
cjal-3260	390	1	93	93	NUM
cjal-3260	390	2	see	see	VERB
cjal-3260	390	3	generally	generally	ADV
cjal-3260	390	4	jeffrey	jeffrey	PROPN
cjal-3260	390	5	n.	n.	PROPN
cjal-3260	390	6	gordon	gordon	PROPN
cjal-3260	390	7	,	,	PUNCT
cjal-3260	390	8	an	an	DET
cjal-3260	390	9	international	international	ADJ
cjal-3260	390	10	relations	relation	NOUN
cjal-3260	390	11	perspective	perspective	NOUN
cjal-3260	390	12	on	on	ADP
cjal-3260	390	13	the	the	DET
cjal-3260	390	14	convergence	convergence	NOUN
cjal-3260	390	15	of	of	ADP
cjal-3260	390	16	corporate	corporate	ADJ
cjal-3260	390	17	governance	governance	NOUN
cjal-3260	390	18	:	:	PUNCT
cjal-3260	390	19	german	german	ADJ
cjal-3260	390	20	shareholder	shareholder	NOUN
cjal-3260	390	21	capitalism	capitalism	NOUN
cjal-3260	390	22	and	and	CCONJ
cjal-3260	390	23	the	the	DET
cjal-3260	390	24	european	european	PROPN
cjal-3260	390	25	union	union	PROPN
cjal-3260	390	26	,	,	PUNCT
cjal-3260	390	27	1990	1990	NUM
cjal-3260	390	28	-	-	SYM
cjal-3260	390	29	2000	2000	NUM
cjal-3260	390	30	(	(	PUNCT
cjal-3260	390	31	2003	2003	NUM
cjal-3260	390	32	)	)	PUNCT
cjal-3260	390	33	(	(	PUNCT
cjal-3260	390	34	harv	harv	PROPN
cjal-3260	390	35	.	.	PUNCT
cjal-3260	391	1	l.	l.	PROPN
cjal-3260	391	2	&	&	CCONJ
cjal-3260	391	3	econ	econ	PROPN
cjal-3260	391	4	.	.	PUNCT
cjal-3260	392	1	discussion	discussion	NOUN
cjal-3260	392	2	paper	paper	NOUN
cjal-3260	392	3	no	no	INTJ
cjal-3260	392	4	.	.	PROPN
cjal-3260	392	5	406	406	NUM
cjal-3260	392	6	)	)	PUNCT
cjal-3260	392	7	,	,	PUNCT
cjal-3260	392	8	available	available	ADJ
cjal-3260	392	9	at	at	ADP
cjal-3260	392	10	http://papers.ssrn.com/sol3/papers.cfm?abstract-id=374620	http://papers.ssrn.com/sol3/papers.cfm?abstract-id=374620	PROPN
cjal-3260	392	11	.	.	PUNCT
cjal-3260	393	1	94	94	NUM
cjal-3260	393	2	coates	coate	NOUN
cjal-3260	393	3	,	,	PUNCT
cjal-3260	393	4	supra	supra	PROPN
cjal-3260	393	5	note	note	PROPN
cjal-3260	393	6	88	88	NUM
cjal-3260	393	7	,	,	PUNCT
cjal-3260	393	8	at	at	ADP
cjal-3260	393	9	6	6	NUM
cjal-3260	393	10	.	.	NOUN
cjal-3260	393	11	9	9	NUM
cjal-3260	394	1	i	i	PROPN
cjal-3260	394	2	d.	d.	PROPN
cjal-3260	394	3	at	at	ADP
cjal-3260	394	4	11	11	NUM
cjal-3260	394	5	.	.	PUNCT
cjal-3260	395	1	[	[	X
cjal-3260	395	2	20:2	20:2	NUM
cjal-3260	395	3	national	national	ADJ
cjal-3260	395	4	markets	market	NOUN
cjal-3260	395	5	,	,	PUNCT
cjal-3260	395	6	new	new	ADJ
cjal-3260	395	7	defenses	defense	NOUN
cjal-3260	395	8	scope	scope	NOUN
cjal-3260	395	9	of	of	ADP
cjal-3260	395	10	takeover	takeover	NOUN
cjal-3260	395	11	bids	bid	NOUN
cjal-3260	395	12	.	.	PUNCT
cjal-3260	396	1	the	the	DET
cjal-3260	396	2	takeover	takeover	NOUN
cjal-3260	396	3	bid	bid	NOUN
cjal-3260	396	4	report	report	NOUN
cjal-3260	396	5	did	do	AUX
cjal-3260	396	6	not	not	PART
cjal-3260	396	7	feign	feign	VERB
cjal-3260	396	8	ignorance	ignorance	NOUN
cjal-3260	396	9	of	of	ADP
cjal-3260	396	10	the	the	DET
cjal-3260	396	11	problem	problem	NOUN
cjal-3260	396	12	.	.	PUNCT
cjal-3260	397	1	"	"	PUNCT
cjal-3260	397	2	pyramid	pyramid	NOUN
cjal-3260	397	3	structures	structure	NOUN
cjal-3260	397	4	...	...	PUNCT
cjal-3260	397	5	undermine	undermine	VERB
cjal-3260	397	6	the	the	DET
cjal-3260	397	7	transparency	transparency	NOUN
cjal-3260	397	8	of	of	ADP
cjal-3260	397	9	the	the	DET
cjal-3260	397	10	ownership	ownership	NOUN
cjal-3260	397	11	structure	structure	NOUN
cjal-3260	397	12	of	of	ADP
cjal-3260	397	13	listed	list	VERB
cjal-3260	397	14	companies	company	NOUN
cjal-3260	397	15	...	...	PUNCT
cjal-3260	398	1	[	[	X
cjal-3260	398	2	and	and	CCONJ
cjal-3260	398	3	]	]	PUNCT
cjal-3260	398	4	affect	affect	VERB
cjal-3260	398	5	the	the	DET
cjal-3260	398	6	pricing	pricing	NOUN
cjal-3260	398	7	mechanism	mechanism	NOUN
cjal-3260	398	8	with	with	ADP
cjal-3260	398	9	regard	regard	NOUN
cjal-3260	398	10	to	to	ADP
cjal-3260	398	11	listed	list	VERB
cjal-3260	398	12	shares	share	NOUN
cjal-3260	398	13	at	at	ADP
cjal-3260	398	14	all	all	DET
cjal-3260	398	15	levels	level	NOUN
cjal-3260	398	16	in	in	ADP
cjal-3260	398	17	the	the	DET
cjal-3260	398	18	structure	structure	NOUN
cjal-3260	398	19	[	[	X
cjal-3260	398	20	.	.	X
cjal-3260	398	21	]	]	X
cjal-3260	398	22	,	,	PUNCT
cjal-3260	398	23	,	,	PUNCT
cjal-3260	398	24	96	96	NUM
cjal-3260	398	25	in	in	ADP
cjal-3260	398	26	the	the	DET
cjal-3260	398	27	final	final	ADJ
cjal-3260	398	28	dtb	dtb	NOUN
cjal-3260	398	29	enacted	enact	VERB
cjal-3260	398	30	in	in	ADP
cjal-3260	398	31	2004	2004	NUM
cjal-3260	398	32	,	,	PUNCT
cjal-3260	398	33	the	the	DET
cjal-3260	398	34	political	political	ADJ
cjal-3260	398	35	compromise	compromise	NOUN
cjal-3260	398	36	included	include	VERB
cjal-3260	398	37	the	the	DET
cjal-3260	398	38	break	break	NOUN
cjal-3260	398	39	-	-	PUNCT
cjal-3260	398	40	through	through	ADP
cjal-3260	398	41	rule	rule	NOUN
cjal-3260	398	42	in	in	ADP
cjal-3260	398	43	the	the	DET
cjal-3260	398	44	structure	structure	NOUN
cjal-3260	398	45	of	of	ADP
cjal-3260	398	46	the	the	DET
cjal-3260	398	47	dtb	dtb	NOUN
cjal-3260	398	48	,	,	PUNCT
cjal-3260	398	49	but	but	CCONJ
cjal-3260	398	50	made	make	VERB
cjal-3260	398	51	it	it	PRON
cjal-3260	398	52	merely	merely	ADV
cjal-3260	398	53	an	an	DET
cjal-3260	398	54	option	option	NOUN
cjal-3260	398	55	for	for	SCONJ
cjal-3260	398	56	countries	country	NOUN
cjal-3260	398	57	to	to	PART
cjal-3260	398	58	opt	opt	VERB
cjal-3260	398	59	into	into	ADP
cjal-3260	398	60	or	or	CCONJ
cjal-3260	398	61	out	out	ADP
cjal-3260	398	62	of	of	ADP
cjal-3260	398	63	,	,	PUNCT
cjal-3260	398	64	under	under	ADP
cjal-3260	398	65	dtb	dtb	NOUN
cjal-3260	398	66	article	article	NOUN
cjal-3260	398	67	eleven.97	eleven.97	VERB
cjal-3260	398	68	the	the	DET
cjal-3260	398	69	value	value	NOUN
cjal-3260	398	70	of	of	ADP
cjal-3260	398	71	the	the	DET
cjal-3260	398	72	btr	btr	PROPN
cjal-3260	398	73	optional	optional	ADJ
cjal-3260	398	74	rule	rule	NOUN
cjal-3260	398	75	lies	lie	VERB
cjal-3260	398	76	in	in	ADP
cjal-3260	398	77	its	its	PRON
cjal-3260	398	78	precedent	precedent	NOUN
cjal-3260	398	79	,	,	PUNCT
cjal-3260	398	80	in	in	ADP
cjal-3260	398	81	the	the	DET
cjal-3260	398	82	research	research	NOUN
cjal-3260	398	83	its	its	PRON
cjal-3260	398	84	introduction	introduction	NOUN
cjal-3260	398	85	spawned	spawn	VERB
cjal-3260	398	86	on	on	ADP
cjal-3260	398	87	cms	cms	NOUN
cjal-3260	398	88	structures	structure	NOUN
cjal-3260	398	89	in	in	ADP
cjal-3260	398	90	europe	europe	PROPN
cjal-3260	398	91	,	,	PUNCT
cjal-3260	398	92	and	and	CCONJ
cjal-3260	398	93	in	in	ADP
cjal-3260	398	94	its	its	PRON
cjal-3260	398	95	application	application	NOUN
cjal-3260	398	96	in	in	ADP
cjal-3260	398	97	future	future	ADJ
cjal-3260	398	98	corporate	corporate	ADJ
cjal-3260	398	99	law	law	NOUN
cjal-3260	398	100	practice	practice	NOUN
cjal-3260	398	101	if	if	SCONJ
cjal-3260	398	102	in	in	ADP
cjal-3260	398	103	fact	fact	NOUN
cjal-3260	398	104	any	any	DET
cjal-3260	398	105	nations	nation	NOUN
cjal-3260	398	106	opt	opt	VERB
cjal-3260	398	107	in	in	ADP
cjal-3260	398	108	.	.	PUNCT
cjal-3260	399	1	even	even	ADV
cjal-3260	399	2	where	where	SCONJ
cjal-3260	399	3	nations	nation	NOUN
cjal-3260	399	4	opt	opt	VERB
cjal-3260	399	5	out	out	ADP
cjal-3260	399	6	of	of	ADP
cjal-3260	399	7	the	the	DET
cjal-3260	399	8	break	break	NOUN
cjal-3260	399	9	-	-	PUNCT
cjal-3260	399	10	through	through	ADP
cjal-3260	399	11	rule	rule	NOUN
cjal-3260	399	12	,	,	PUNCT
cjal-3260	399	13	companies	company	NOUN
cjal-3260	399	14	can	can	AUX
cjal-3260	399	15	opt	opt	VERB
cjal-3260	399	16	in	in	ADP
cjal-3260	399	17	at	at	ADP
cjal-3260	399	18	the	the	DET
cjal-3260	399	19	firm	firm	ADJ
cjal-3260	399	20	level	level	NOUN
cjal-3260	399	21	.	.	PUNCT
cjal-3260	400	1	some	some	DET
cjal-3260	400	2	companies	company	NOUN
cjal-3260	400	3	may	may	AUX
cjal-3260	400	4	actually	actually	ADV
cjal-3260	400	5	take	take	VERB
cjal-3260	400	6	the	the	DET
cjal-3260	400	7	option	option	NOUN
cjal-3260	400	8	because	because	SCONJ
cjal-3260	400	9	opting	opt	VERB
cjal-3260	400	10	in	in	ADP
cjal-3260	400	11	has	have	VERB
cjal-3260	400	12	advantages	advantage	NOUN
cjal-3260	400	13	under	under	ADP
cjal-3260	400	14	the	the	DET
cjal-3260	400	15	dtb	dtb	NOUN
cjal-3260	400	16	reciprocity	reciprocity	NOUN
cjal-3260	400	17	rules	rule	NOUN
cjal-3260	400	18	.	.	PUNCT
cjal-3260	401	1	98	98	NUM
cjal-3260	401	2	a	a	DET
cjal-3260	401	3	second	second	ADJ
cjal-3260	401	4	ambitious	ambitious	ADJ
cjal-3260	401	5	goal	goal	NOUN
cjal-3260	401	6	for	for	ADP
cjal-3260	401	7	the	the	DET
cjal-3260	401	8	dtb	dtb	NOUN
cjal-3260	401	9	was	be	AUX
cjal-3260	401	10	the	the	DET
cjal-3260	401	11	proposed	propose	VERB
cjal-3260	401	12	application	application	NOUN
cjal-3260	401	13	of	of	ADP
cjal-3260	401	14	a	a	DET
cjal-3260	401	15	uk	uk	ADJ
cjal-3260	401	16	-	-	PUNCT
cjal-3260	401	17	style	style	NOUN
cjal-3260	401	18	"	"	PUNCT
cjal-3260	401	19	board	board	NOUN
cjal-3260	401	20	passivity	passivity	NOUN
cjal-3260	401	21	"	"	PUNCT
cjal-3260	401	22	rule	rule	NOUN
cjal-3260	401	23	across	across	ADP
cjal-3260	401	24	europe	europe	PROPN
cjal-3260	401	25	.	.	PUNCT
cjal-3260	402	1	the	the	DET
cjal-3260	402	2	dtb	dtb	NOUN
cjal-3260	402	3	's	's	PART
cjal-3260	402	4	article	article	NOUN
cjal-3260	402	5	nine	nine	NUM
cjal-3260	402	6	,	,	PUNCT
cjal-3260	402	7	modeled	model	VERB
cjal-3260	402	8	on	on	ADP
cjal-3260	402	9	the	the	DET
cjal-3260	402	10	city	city	NOUN
cjal-3260	402	11	code	code	PROPN
cjal-3260	402	12	principle	principle	NOUN
cjal-3260	402	13	,	,	PUNCT
cjal-3260	402	14	"	"	PUNCT
cjal-3260	402	15	outlaws	outlaw	NOUN
cjal-3260	402	16	postbid	postbid	NOUN
cjal-3260	402	17	defen[s]es	defen[s]es	NOUN
cjal-3260	402	18	against	against	ADP
cjal-3260	402	19	hostile	hostile	ADJ
cjal-3260	402	20	bids	bid	NOUN
cjal-3260	402	21	by	by	ADP
cjal-3260	402	22	obliging	oblige	VERB
cjal-3260	402	23	the	the	DET
cjal-3260	402	24	board	board	NOUN
cjal-3260	402	25	of	of	ADP
cjal-3260	402	26	directors	director	NOUN
cjal-3260	402	27	of	of	ADP
cjal-3260	402	28	target	target	NOUN
cjal-3260	402	29	companies	company	NOUN
cjal-3260	402	30	to	to	PART
cjal-3260	402	31	remain	remain	VERB
cjal-3260	402	32	neutral	neutral	ADJ
cjal-3260	402	33	and	and	CCONJ
cjal-3260	402	34	not	not	PART
cjal-3260	402	35	take	take	VERB
cjal-3260	402	36	any	any	DET
cjal-3260	402	37	actions	action	NOUN
cjal-3260	402	38	that	that	PRON
cjal-3260	402	39	could	could	AUX
cjal-3260	402	40	frustrate	frustrate	VERB
cjal-3260	402	41	the	the	DET
cjal-3260	402	42	bid	bid	NOUN
cjal-3260	402	43	.	.	PUNCT
cjal-3260	403	1	"99	"99	PRON
cjal-3260	403	2	like	like	ADP
cjal-3260	403	3	article	article	NOUN
cjal-3260	403	4	eleven	eleven	NUM
cjal-3260	403	5	,	,	PUNCT
cjal-3260	403	6	article	article	NOUN
cjal-3260	403	7	nine	nine	NUM
cjal-3260	403	8	in	in	ADP
cjal-3260	403	9	the	the	DET
cjal-3260	403	10	final	final	ADJ
cjal-3260	403	11	dtb	dtb	NOUN
cjal-3260	403	12	is	be	AUX
cjal-3260	403	13	an	an	DET
cjal-3260	403	14	option	option	NOUN
cjal-3260	403	15	for	for	ADP
cjal-3260	403	16	nations	nation	NOUN
cjal-3260	403	17	and	and	CCONJ
cjal-3260	403	18	for	for	ADP
cjal-3260	403	19	firms	firm	NOUN
cjal-3260	403	20	if	if	SCONJ
cjal-3260	403	21	their	their	PRON
cjal-3260	403	22	jurisdiction	jurisdiction	NOUN
cjal-3260	403	23	opts	opt	VERB
cjal-3260	403	24	out	out	ADP
cjal-3260	403	25	.	.	PUNCT
cjal-3260	403	26	'	'	PUNCT
cjal-3260	403	27	00	00	PUNCT
cjal-3260	404	1	while	while	SCONJ
cjal-3260	404	2	the	the	DET
cjal-3260	404	3	european	european	PROPN
cjal-3260	404	4	commission	commission	PROPN
cjal-3260	404	5	's	's	PART
cjal-3260	404	6	initial	initial	ADJ
cjal-3260	404	7	approach	approach	NOUN
cjal-3260	404	8	in	in	ADP
cjal-3260	404	9	an	an	DET
cjal-3260	404	10	article	article	NOUN
cjal-3260	404	11	nine	nine	NUM
cjal-3260	404	12	of	of	ADP
cjal-3260	404	13	the	the	DET
cjal-3260	404	14	uk	uk	PROPN
cjal-3260	404	15	variety	variety	NOUN
cjal-3260	404	16	is	be	AUX
cjal-3260	404	17	charged	charge	VERB
cjal-3260	404	18	with	with	ADP
cjal-3260	404	19	"	"	PUNCT
cjal-3260	404	20	aiming	aim	VERB
cjal-3260	404	21	to	to	PART
cjal-3260	404	22	create	create	VERB
cjal-3260	404	23	a	a	DET
cjal-3260	404	24	liberal	liberal	ADJ
cjal-3260	404	25	variety	variety	NOUN
cjal-3260	404	26	of	of	ADP
cjal-3260	404	27	capitalism	capitalism	NOUN
cjal-3260	404	28	,	,	PUNCT
cjal-3260	404	29	which	which	PRON
cjal-3260	404	30	privileges	privilege	VERB
cjal-3260	404	31	minority	minority	NOUN
cjal-3260	404	32	shareholders	shareholder	NOUN
cjal-3260	404	33	such	such	ADJ
cjal-3260	404	34	as	as	ADP
cjal-3260	404	35	institutional	institutional	ADJ
cjal-3260	404	36	portfolio	portfolio	NOUN
cjal-3260	404	37	investors	investor	NOUN
cjal-3260	404	38	over	over	ADP
cjal-3260	404	39	blockholders	blockholder	NOUN
cjal-3260	404	40	,	,	PUNCT
cjal-3260	404	41	management	management	NOUN
cjal-3260	404	42	,	,	PUNCT
cjal-3260	404	43	and	and	CCONJ
cjal-3260	404	44	workers	worker	NOUN
cjal-3260	404	45	,	,	PUNCT
cjal-3260	404	46	"	"	PUNCT
cjal-3260	404	47	'	'	PUNCT
cjal-3260	404	48	10	10	NUM
cjal-3260	404	49	the	the	DET
cjal-3260	404	50	optional	optional	ADJ
cjal-3260	404	51	version	version	NOUN
cjal-3260	404	52	finally	finally	ADV
cjal-3260	404	53	adopted	adopt	VERB
cjal-3260	404	54	in	in	ADP
cjal-3260	404	55	the	the	DET
cjal-3260	404	56	dtb	dtb	NOUN
cjal-3260	404	57	represents	represent	VERB
cjal-3260	404	58	a	a	DET
cjal-3260	404	59	triumph	triumph	NOUN
cjal-3260	404	60	for	for	ADP
cjal-3260	404	61	the	the	DET
cjal-3260	404	62	institutional	institutional	ADJ
cjal-3260	404	63	view	view	NOUN
cjal-3260	404	64	of	of	ADP
cjal-3260	404	65	the	the	DET
cjal-3260	404	66	firm	firm	NOUN
cjal-3260	404	67	to	to	ADP
cjal-3260	404	68	the	the	DET
cjal-3260	404	69	extent	extent	NOUN
cjal-3260	404	70	that	that	SCONJ
cjal-3260	404	71	opting	opt	VERB
cjal-3260	404	72	out	out	ADP
cjal-3260	404	73	is	be	AUX
cjal-3260	404	74	prevalent	prevalent	ADJ
cjal-3260	404	75	and	and	CCONJ
cjal-3260	404	76	cms	cms	NOUN
cjal-3260	404	77	structures	structure	NOUN
cjal-3260	404	78	remain	remain	VERB
cjal-3260	404	79	common	common	ADJ
cjal-3260	404	80	in	in	ADP
cjal-3260	404	81	europe	europe	PROPN
cjal-3260	404	82	.	.	PUNCT
cjal-3260	405	1	in	in	ADP
cjal-3260	405	2	its	its	PRON
cjal-3260	405	3	optional	optional	ADJ
cjal-3260	405	4	form	form	NOUN
cjal-3260	405	5	,	,	PUNCT
cjal-3260	405	6	it	it	PRON
cjal-3260	405	7	will	will	AUX
cjal-3260	405	8	96	96	NUM
cjal-3260	406	1	i	i	PRON
cjal-3260	406	2	d.	d.	PROPN
cjal-3260	406	3	at	at	ADP
cjal-3260	406	4	12	12	NUM
cjal-3260	406	5	(	(	PUNCT
cjal-3260	406	6	quoting	quote	VERB
cjal-3260	406	7	jaap	jaap	PROPN
cjal-3260	406	8	winter	winter	PROPN
cjal-3260	406	9	et	et	PROPN
cjal-3260	406	10	al	al	PROPN
cjal-3260	406	11	.	.	PROPN
cjal-3260	406	12	,	,	PUNCT
cjal-3260	406	13	report	report	NOUN
cjal-3260	406	14	of	of	ADP
cjal-3260	406	15	the	the	DET
cjal-3260	406	16	high	high	ADJ
cjal-3260	406	17	level	level	NOUN
cjal-3260	406	18	group	group	NOUN
cjal-3260	406	19	of	of	ADP
cjal-3260	406	20	company	company	NOUN
cjal-3260	406	21	law	law	NOUN
cjal-3260	406	22	experts	expert	NOUN
cjal-3260	406	23	on	on	ADP
cjal-3260	406	24	issues	issue	NOUN
cjal-3260	406	25	related	relate	VERB
cjal-3260	406	26	to	to	ADP
cjal-3260	406	27	takeover	takeover	NOUN
cjal-3260	406	28	bids	bid	NOUN
cjal-3260	406	29	39	39	NUM
cjal-3260	406	30	(	(	PUNCT
cjal-3260	406	31	jan	jan	PROPN
cjal-3260	406	32	.	.	PROPN
cjal-3260	406	33	10	10	NUM
cjal-3260	406	34	,	,	PUNCT
cjal-3260	406	35	2002	2002	NUM
cjal-3260	406	36	)	)	PUNCT
cjal-3260	406	37	,	,	PUNCT
cjal-3260	406	38	available	available	ADJ
cjal-3260	406	39	at	at	ADP
cjal-3260	406	40	http	http	NOUN
cjal-3260	406	41	:	:	PUNCT
cjal-3260	406	42	//ec	//ec	ADJ
cjal-3260	406	43	.	.	PUNCT
cjal-3260	407	1	europa.eu/internalmarket/company/docs/takeoverbids/2002-01	europa.eu/internalmarket/company/docs/takeoverbids/2002-01	ADJ
cjal-3260	407	2	-hlg	-hlg	ADJ
cjal-3260	407	3	-	-	PUNCT
cjal-3260	407	4	report	report	NOUN
cjal-3260	407	5	en.pdf	en.pdf	PROPN
cjal-3260	407	6	)	)	PUNCT
cjal-3260	407	7	.	.	PUNCT
cjal-3260	408	1	97	97	NUM
cjal-3260	408	2	implementing	implement	VERB
cjal-3260	408	3	the	the	DET
cjal-3260	408	4	takeover	takeover	NOUN
cjal-3260	408	5	directive	directive	NOUN
cjal-3260	408	6	in	in	ADP
cjal-3260	408	7	the	the	DET
cjal-3260	408	8	eu	eu	PROPN
cjal-3260	408	9	:	:	PUNCT
cjal-3260	408	10	what	what	PRON
cjal-3260	408	11	does	do	AUX
cjal-3260	408	12	it	it	PRON
cjal-3260	408	13	mean	mean	VERB
cjal-3260	408	14	for	for	ADP
cjal-3260	408	15	member	member	NOUN
cjal-3260	408	16	states	state	NOUN
cjal-3260	408	17	?	?	PUNCT
cjal-3260	408	18	,	,	PUNCT
cjal-3260	408	19	july	july	PROPN
cjal-3260	408	20	2006	2006	NUM
cjal-3260	408	21	,	,	PUNCT
cjal-3260	408	22	at	at	ADP
cjal-3260	408	23	2	2	NUM
cjal-3260	408	24	(	(	PUNCT
cjal-3260	408	25	freshfields	freshfield	NOUN
cjal-3260	408	26	bruckhaus	bruckhaus	PROPN
cjal-3260	408	27	deringer	deringer	PROPN
cjal-3260	408	28	,	,	PUNCT
cjal-3260	408	29	briefing	briefing	NOUN
cjal-3260	408	30	newsletter	newsletter	NOUN
cjal-3260	408	31	)	)	PUNCT
cjal-3260	408	32	,	,	PUNCT
cjal-3260	408	33	available	available	ADJ
cjal-3260	408	34	at	at	ADP
cjal-3260	408	35	http://www.freshfields.com/publications/pdfs/2006/takeoverdirective.pdf	http://www.freshfields.com/publications/pdfs/2006/takeoverdirective.pdf	NOUN
cjal-3260	408	36	.	.	PUNCT
cjal-3260	409	1	the	the	DET
cjal-3260	409	2	report	report	NOUN
cjal-3260	409	3	observed	observe	VERB
cjal-3260	409	4	that	that	SCONJ
cjal-3260	409	5	no	no	DET
cjal-3260	409	6	nations	nation	NOUN
cjal-3260	409	7	are	be	AUX
cjal-3260	409	8	expected	expect	VERB
cjal-3260	409	9	to	to	PART
cjal-3260	409	10	opt	opt	VERB
cjal-3260	409	11	into	into	ADP
cjal-3260	409	12	the	the	DET
cjal-3260	409	13	break	break	NOUN
cjal-3260	409	14	-	-	PUNCT
cjal-3260	409	15	through	through	ADP
cjal-3260	409	16	rule	rule	NOUN
cjal-3260	409	17	,	,	PUNCT
cjal-3260	409	18	with	with	ADP
cjal-3260	409	19	the	the	DET
cjal-3260	409	20	possible	possible	ADJ
cjal-3260	409	21	exception	exception	NOUN
cjal-3260	409	22	of	of	ADP
cjal-3260	409	23	italy	italy	PROPN
cjal-3260	409	24	.	.	PUNCT
cjal-3260	410	1	i	i	PRON
cjal-3260	410	2	d.	d.	PROPN
cjal-3260	410	3	at	at	ADP
cjal-3260	410	4	7	7	NUM
cjal-3260	410	5	.	.	NOUN
cjal-3260	410	6	9	9	NUM
cjal-3260	410	7	i	i	PROPN
cjal-3260	410	8	d.	d.	NOUN
cjal-3260	410	9	at	at	ADP
cjal-3260	410	10	2	2	NUM
cjal-3260	410	11	-	-	SYM
cjal-3260	410	12	3	3	NUM
cjal-3260	410	13	.	.	NUM
cjal-3260	410	14	99	99	NUM
cjal-3260	410	15	andre	andre	PROPN
cjal-3260	410	16	nilsen	nilsen	PROPN
cjal-3260	410	17	,	,	PUNCT
cjal-3260	410	18	the	the	DET
cjal-3260	410	19	eu	eu	PROPN
cjal-3260	410	20	takeover	takeover	NOUN
cjal-3260	410	21	directive	directive	NOUN
cjal-3260	410	22	and	and	CCONJ
cjal-3260	410	23	the	the	DET
cjal-3260	410	24	competitiveness	competitiveness	NOUN
cjal-3260	410	25	of	of	ADP
cjal-3260	410	26	european	european	ADJ
cjal-3260	410	27	industry	industry	NOUN
cjal-3260	410	28	,	,	PUNCT
cjal-3260	410	29	nov	nov	PROPN
cjal-3260	410	30	.	.	PROPN
cjal-3260	410	31	2004	2004	NUM
cjal-3260	410	32	,	,	PUNCT
cjal-3260	410	33	at	at	ADP
cjal-3260	410	34	2	2	NUM
cjal-3260	410	35	(	(	PUNCT
cjal-3260	410	36	oxford	oxford	PROPN
cjal-3260	410	37	council	council	PROPN
cjal-3260	410	38	on	on	ADP
cjal-3260	410	39	good	good	ADJ
cjal-3260	410	40	governance	governance	NOUN
cjal-3260	410	41	economy	economy	NOUN
cjal-3260	410	42	analysis	analysis	NOUN
cjal-3260	410	43	no	no	DET
cjal-3260	410	44	1	1	NUM
cjal-3260	410	45	)	)	PUNCT
cjal-3260	410	46	,	,	PUNCT
cjal-3260	410	47	available	available	ADJ
cjal-3260	410	48	at	at	ADP
cjal-3260	410	49	http://www.oxfordgovernance.org/fileadmin/publications/ey001	http://www.oxfordgovernance.org/fileadmin/publications/ey001	PROPN
cjal-3260	410	50	.pdf	.pdf	PUNCT
cjal-3260	411	1	(	(	PUNCT
cjal-3260	411	2	last	last	ADJ
cjal-3260	411	3	visited	visit	VERB
cjal-3260	411	4	mar	mar	PROPN
cjal-3260	411	5	.	.	PROPN
cjal-3260	411	6	8	8	NUM
cjal-3260	411	7	,	,	PUNCT
cjal-3260	411	8	2007	2007	NUM
cjal-3260	411	9	)	)	PUNCT
cjal-3260	411	10	.	.	PUNCT
cjal-3260	412	1	1oo	1oo	ADJ
cjal-3260	412	2	freshfields	freshfields	PROPN
cjal-3260	412	3	reports	report	NOUN
cjal-3260	412	4	as	as	ADP
cjal-3260	412	5	of	of	ADP
cjal-3260	412	6	july	july	PROPN
cjal-3260	412	7	2006	2006	NUM
cjal-3260	412	8	that	that	SCONJ
cjal-3260	412	9	france	france	PROPN
cjal-3260	412	10	,	,	PUNCT
cjal-3260	412	11	spain	spain	PROPN
cjal-3260	412	12	,	,	PUNCT
cjal-3260	412	13	the	the	DET
cjal-3260	412	14	uk	uk	PROPN
cjal-3260	412	15	,	,	PUNCT
cjal-3260	412	16	and	and	CCONJ
cjal-3260	412	17	possibly	possibly	ADV
cjal-3260	412	18	austria	austria	PROPN
cjal-3260	412	19	and	and	CCONJ
cjal-3260	412	20	italy	italy	PROPN
cjal-3260	412	21	are	be	AUX
cjal-3260	412	22	likely	likely	ADJ
cjal-3260	412	23	to	to	PART
cjal-3260	412	24	opt	opt	VERB
cjal-3260	412	25	into	into	ADP
cjal-3260	412	26	article	article	NOUN
cjal-3260	412	27	nine	nine	NUM
cjal-3260	412	28	,	,	PUNCT
cjal-3260	412	29	while	while	SCONJ
cjal-3260	412	30	germany	germany	PROPN
cjal-3260	412	31	,	,	PUNCT
cjal-3260	412	32	luxembourg	luxembourg	PROPN
cjal-3260	412	33	,	,	PUNCT
cjal-3260	412	34	the	the	DET
cjal-3260	412	35	netherlands	netherlands	PROPN
cjal-3260	412	36	and	and	CCONJ
cjal-3260	412	37	possibly	possibly	ADV
cjal-3260	412	38	belgium	belgium	NOUN
cjal-3260	412	39	plan	plan	NOUN
cjal-3260	412	40	to	to	PART
cjal-3260	412	41	opt	opt	VERB
cjal-3260	412	42	out	out	ADP
cjal-3260	412	43	.	.	PUNCT
cjal-3260	413	1	see	see	VERB
cjal-3260	413	2	implementing	implement	VERB
cjal-3260	413	3	the	the	DET
cjal-3260	413	4	takeover	takeover	NOUN
cjal-3260	413	5	directive	directive	NOUN
cjal-3260	413	6	in	in	ADP
cjal-3260	413	7	the	the	DET
cjal-3260	413	8	eu	eu	PROPN
cjal-3260	413	9	,	,	PUNCT
cjal-3260	413	10	supra	supra	PROPN
cjal-3260	413	11	note	note	PROPN
cjal-3260	413	12	97	97	NUM
cjal-3260	413	13	,	,	PUNCT
cjal-3260	413	14	at	at	ADP
cjal-3260	413	15	7	7	NUM
cjal-3260	413	16	.	.	X
cjal-3260	413	17	101	101	NUM
cjal-3260	413	18	nilsen	nilsen	PROPN
cjal-3260	413	19	,	,	PUNCT
cjal-3260	413	20	supra	supra	PROPN
cjal-3260	413	21	note	note	NOUN
cjal-3260	413	22	99	99	NUM
cjal-3260	413	23	at	at	ADP
cjal-3260	413	24	2	2	NUM
cjal-3260	413	25	.	.	NUM
cjal-3260	413	26	2007	2007	NUM
cjal-3260	413	27	]	]	PUNCT
cjal-3260	413	28	columbia	columbia	PROPN
cjal-3260	413	29	journal	journal	PROPN
cjal-3260	413	30	ofasianlaw	ofasianlaw	NOUN
cjal-3260	413	31	not	not	PART
cjal-3260	413	32	quickly	quickly	ADV
cjal-3260	413	33	result	result	VERB
cjal-3260	413	34	in	in	ADP
cjal-3260	413	35	the	the	DET
cjal-3260	413	36	one	one	NUM
cjal-3260	413	37	-	-	PUNCT
cjal-3260	413	38	share	share	NOUN
cjal-3260	413	39	,	,	PUNCT
cjal-3260	413	40	one	one	NUM
cjal-3260	413	41	-	-	PUNCT
cjal-3260	413	42	vote	vote	NOUN
cjal-3260	413	43	ideal	ideal	NOUN
cjal-3260	413	44	sought	seek	VERB
cjal-3260	413	45	by	by	ADP
cjal-3260	413	46	advocates	advocate	NOUN
cjal-3260	413	47	of	of	ADP
cjal-3260	413	48	a	a	DET
cjal-3260	413	49	finance	finance	NOUN
cjal-3260	413	50	view	view	NOUN
cjal-3260	413	51	.	.	PUNCT
cjal-3260	414	1	a	a	DET
cjal-3260	414	2	reciprocity	reciprocity	NOUN
cjal-3260	414	3	provision	provision	NOUN
cjal-3260	414	4	for	for	ADP
cjal-3260	414	5	non	non	ADJ
cjal-3260	414	6	-	-	ADJ
cjal-3260	414	7	eu	eu	ADJ
cjal-3260	414	8	bidders	bidder	NOUN
cjal-3260	414	9	addresses	address	VERB
cjal-3260	414	10	the	the	DET
cjal-3260	414	11	potential	potential	ADJ
cjal-3260	414	12	imbalance	imbalance	NOUN
cjal-3260	414	13	of	of	ADP
cjal-3260	414	14	defensive	defensive	ADJ
cjal-3260	414	15	measures	measure	NOUN
cjal-3260	414	16	in	in	ADP
cjal-3260	414	17	cross	cross	ADJ
cjal-3260	414	18	-	-	ADJ
cjal-3260	414	19	border	border	ADJ
cjal-3260	414	20	offers	offer	NOUN
cjal-3260	414	21	.	.	PUNCT
cjal-3260	415	1	eu	eu	PROPN
cjal-3260	415	2	countries	country	NOUN
cjal-3260	415	3	or	or	CCONJ
cjal-3260	415	4	firms	firm	NOUN
cjal-3260	415	5	opting	opt	VERB
cjal-3260	415	6	in	in	ADP
cjal-3260	415	7	to	to	ADP
cjal-3260	415	8	article	article	NOUN
cjal-3260	415	9	nine	nine	NUM
cjal-3260	415	10	and	and	CCONJ
cjal-3260	415	11	article	article	NOUN
cjal-3260	415	12	eleven	eleven	NUM
cjal-3260	415	13	would	would	AUX
cjal-3260	415	14	be	be	AUX
cjal-3260	415	15	vulnerable	vulnerable	ADJ
cjal-3260	415	16	to	to	ADP
cjal-3260	415	17	takeover	takeover	NOUN
cjal-3260	415	18	,	,	PUNCT
cjal-3260	415	19	but	but	CCONJ
cjal-3260	415	20	american	american	ADJ
cjal-3260	415	21	and	and	CCONJ
cjal-3260	415	22	other	other	ADJ
cjal-3260	415	23	firms	firm	NOUN
cjal-3260	415	24	allowed	allow	VERB
cjal-3260	415	25	poison	poison	NOUN
cjal-3260	415	26	pills	pill	NOUN
cjal-3260	415	27	and	and	CCONJ
cjal-3260	415	28	staggered	staggered	ADJ
cjal-3260	415	29	boards	board	NOUN
cjal-3260	415	30	would	would	AUX
cjal-3260	415	31	not	not	PART
cjal-3260	415	32	.	.	PUNCT
cjal-3260	416	1	therefore	therefore	ADV
cjal-3260	416	2	,	,	PUNCT
cjal-3260	416	3	a	a	DET
cjal-3260	416	4	european	european	ADJ
cjal-3260	416	5	target	target	NOUN
cjal-3260	416	6	company	company	NOUN
cjal-3260	416	7	would	would	AUX
cjal-3260	416	8	be	be	AUX
cjal-3260	416	9	exempt	exempt	ADJ
cjal-3260	416	10	from	from	ADP
cjal-3260	416	11	the	the	DET
cjal-3260	416	12	articles	article	NOUN
cjal-3260	416	13	if	if	SCONJ
cjal-3260	416	14	the	the	DET
cjal-3260	416	15	bidder	bidder	NOUN
cjal-3260	416	16	is	be	AUX
cjal-3260	416	17	not	not	PART
cjal-3260	416	18	bound	bind	VERB
cjal-3260	416	19	by	by	ADP
cjal-3260	416	20	such	such	ADJ
cjal-3260	416	21	restrictions	restriction	NOUN
cjal-3260	416	22	.	.	PUNCT
cjal-3260	417	1	102	102	NUM
cjal-3260	417	2	iv	iv	X
cjal-3260	417	3	.	.	PUNCT
cjal-3260	418	1	an	an	DET
cjal-3260	418	2	opt	opt	VERB
cjal-3260	418	3	-	-	PUNCT
cjal-3260	418	4	in	in	ADP
cjal-3260	418	5	proposal	proposal	NOUN
cjal-3260	418	6	for	for	ADP
cjal-3260	418	7	enhanced	enhanced	ADJ
cjal-3260	418	8	takeover	takeover	NOUN
cjal-3260	418	9	protections	protection	NOUN
cjal-3260	418	10	the	the	DET
cjal-3260	418	11	perceived	perceive	VERB
cjal-3260	418	12	threat	threat	NOUN
cjal-3260	418	13	of	of	ADP
cjal-3260	418	14	foreign	foreign	ADJ
cjal-3260	418	15	hostile	hostile	ADJ
cjal-3260	418	16	takeovers	takeover	NOUN
cjal-3260	418	17	and	and	CCONJ
cjal-3260	418	18	new	new	ADJ
cjal-3260	418	19	demand	demand	NOUN
cjal-3260	418	20	for	for	ADP
cjal-3260	418	21	strong	strong	ADJ
cjal-3260	418	22	takeover	takeover	NOUN
cjal-3260	418	23	defenses	defense	NOUN
cjal-3260	418	24	presents	present	VERB
cjal-3260	418	25	an	an	DET
cjal-3260	418	26	opportunity	opportunity	NOUN
cjal-3260	418	27	for	for	SCONJ
cjal-3260	418	28	east	east	ADJ
cjal-3260	418	29	asian	asian	ADJ
cjal-3260	418	30	policymakers	policymaker	NOUN
cjal-3260	418	31	to	to	PART
cjal-3260	418	32	strike	strike	VERB
cjal-3260	418	33	a	a	DET
cjal-3260	418	34	bargain	bargain	NOUN
cjal-3260	418	35	with	with	ADP
cjal-3260	418	36	the	the	DET
cjal-3260	418	37	cms	cms	NOUN
cjal-3260	418	38	companies	company	NOUN
cjal-3260	418	39	whose	whose	DET
cjal-3260	418	40	regulation	regulation	NOUN
cjal-3260	418	41	is	be	AUX
cjal-3260	418	42	in	in	ADP
cjal-3260	418	43	their	their	PRON
cjal-3260	418	44	care	care	NOUN
cjal-3260	418	45	:	:	PUNCT
cjal-3260	418	46	restructure	restructure	NOUN
cjal-3260	418	47	and	and	CCONJ
cjal-3260	418	48	become	become	VERB
cjal-3260	418	49	eligible	eligible	ADJ
cjal-3260	418	50	to	to	PART
cjal-3260	418	51	adopt	adopt	VERB
cjal-3260	418	52	the	the	DET
cjal-3260	418	53	poison	poison	NOUN
cjal-3260	418	54	pill	pill	NOUN
cjal-3260	418	55	.	.	PUNCT
cjal-3260	419	1	the	the	DET
cjal-3260	419	2	eligibility	eligibility	NOUN
cjal-3260	419	3	requirement	requirement	NOUN
cjal-3260	419	4	would	would	AUX
cjal-3260	419	5	be	be	AUX
cjal-3260	419	6	a	a	DET
cjal-3260	419	7	transparent	transparent	ADJ
cjal-3260	419	8	one	one	NUM
cjal-3260	419	9	-	-	PUNCT
cjal-3260	419	10	share	share	NOUN
cjal-3260	419	11	,	,	PUNCT
cjal-3260	419	12	one	one	NUM
cjal-3260	419	13	-	-	PUNCT
cjal-3260	419	14	vote	vote	NOUN
cjal-3260	419	15	capital	capital	NOUN
cjal-3260	419	16	structure	structure	NOUN
cjal-3260	419	17	in	in	ADP
cjal-3260	419	18	which	which	PRON
cjal-3260	419	19	control	control	NOUN
cjal-3260	419	20	rights	right	NOUN
cjal-3260	419	21	are	be	AUX
cjal-3260	419	22	proportionate	proportionate	ADJ
cjal-3260	419	23	to	to	ADP
cjal-3260	419	24	cash	cash	NOUN
cjal-3260	419	25	flow	flow	NOUN
cjal-3260	419	26	rights	right	NOUN
cjal-3260	419	27	.	.	PUNCT
cjal-3260	420	1	in	in	ADP
cjal-3260	420	2	return	return	NOUN
cjal-3260	420	3	for	for	ADP
cjal-3260	420	4	giving	give	VERB
cjal-3260	420	5	up	up	ADP
cjal-3260	420	6	the	the	DET
cjal-3260	420	7	structural	structural	ADJ
cjal-3260	420	8	method	method	NOUN
cjal-3260	420	9	of	of	ADP
cjal-3260	420	10	control	control	NOUN
cjal-3260	420	11	,	,	PUNCT
cjal-3260	420	12	managers	manager	NOUN
cjal-3260	420	13	would	would	AUX
cjal-3260	420	14	enjoy	enjoy	VERB
cjal-3260	420	15	the	the	DET
cjal-3260	420	16	privileges	privilege	NOUN
cjal-3260	420	17	of	of	ADP
cjal-3260	420	18	a	a	DET
cjal-3260	420	19	code	code	NOUN
cjal-3260	420	20	or	or	CCONJ
cjal-3260	420	21	statute	statute	NOUN
cjal-3260	420	22	that	that	PRON
cjal-3260	420	23	permits	permit	VERB
cjal-3260	420	24	the	the	DET
cjal-3260	420	25	adoption	adoption	NOUN
cjal-3260	420	26	of	of	ADP
cjal-3260	420	27	poison	poison	NOUN
cjal-3260	420	28	pills	pill	NOUN
cjal-3260	420	29	and	and	CCONJ
cjal-3260	420	30	other	other	ADJ
cjal-3260	420	31	defensive	defensive	ADJ
cjal-3260	420	32	measures	measure	NOUN
cjal-3260	420	33	,	,	PUNCT
cjal-3260	420	34	subject	subject	ADJ
cjal-3260	420	35	to	to	ADP
cjal-3260	420	36	reasonable	reasonable	ADJ
cjal-3260	420	37	rules	rule	NOUN
cjal-3260	420	38	to	to	PART
cjal-3260	420	39	protect	protect	VERB
cjal-3260	420	40	firm	firm	ADJ
cjal-3260	420	41	value	value	NOUN
cjal-3260	420	42	and	and	CCONJ
cjal-3260	420	43	prevent	prevent	VERB
cjal-3260	420	44	abuse	abuse	NOUN
cjal-3260	420	45	or	or	CCONJ
cjal-3260	420	46	entrenchment	entrenchment	NOUN
cjal-3260	420	47	.	.	PUNCT
cjal-3260	421	1	once	once	ADV
cjal-3260	421	2	a	a	DET
cjal-3260	421	3	firm	firm	NOUN
cjal-3260	421	4	qualifies	qualify	VERB
cjal-3260	421	5	under	under	ADP
cjal-3260	421	6	the	the	DET
cjal-3260	421	7	one	one	NUM
cjal-3260	421	8	-	-	PUNCT
cjal-3260	421	9	share	share	NOUN
cjal-3260	421	10	,	,	PUNCT
cjal-3260	421	11	one	one	NUM
cjal-3260	421	12	-	-	PUNCT
cjal-3260	421	13	vote	vote	NOUN
cjal-3260	421	14	criteria	criterion	NOUN
cjal-3260	421	15	,	,	PUNCT
cjal-3260	421	16	its	its	PRON
cjal-3260	421	17	use	use	NOUN
cjal-3260	421	18	of	of	ADP
cjal-3260	421	19	defensive	defensive	ADJ
cjal-3260	421	20	measures	measure	NOUN
cjal-3260	421	21	such	such	ADJ
cjal-3260	421	22	as	as	ADP
cjal-3260	421	23	poison	poison	NOUN
cjal-3260	421	24	pills	pill	NOUN
cjal-3260	421	25	would	would	AUX
cjal-3260	421	26	be	be	AUX
cjal-3260	421	27	subject	subject	ADJ
cjal-3260	421	28	to	to	ADP
cjal-3260	421	29	the	the	DET
cjal-3260	421	30	regular	regular	ADJ
cjal-3260	421	31	fiduciary	fiduciary	ADJ
cjal-3260	421	32	duties	duty	NOUN
cjal-3260	421	33	that	that	PRON
cjal-3260	421	34	directors	director	NOUN
cjal-3260	421	35	and	and	CCONJ
cjal-3260	421	36	executives	executive	NOUN
cjal-3260	421	37	owe	owe	VERB
cjal-3260	421	38	their	their	PRON
cjal-3260	421	39	companies	company	NOUN
cjal-3260	421	40	under	under	ADP
cjal-3260	421	41	standard	standard	ADJ
cjal-3260	421	42	corporate	corporate	ADJ
cjal-3260	421	43	law	law	NOUN
cjal-3260	421	44	.	.	PUNCT
cjal-3260	422	1	one	one	NUM
cjal-3260	422	2	option	option	NOUN
cjal-3260	422	3	for	for	ADP
cjal-3260	422	4	applying	apply	VERB
cjal-3260	422	5	corporate	corporate	ADJ
cjal-3260	422	6	fiduciary	fiduciary	ADJ
cjal-3260	422	7	duties	duty	NOUN
cjal-3260	422	8	to	to	ADP
cjal-3260	422	9	the	the	DET
cjal-3260	422	10	new	new	ADJ
cjal-3260	422	11	defensive	defensive	ADJ
cjal-3260	422	12	measures	measure	NOUN
cjal-3260	422	13	is	be	AUX
cjal-3260	422	14	to	to	PART
cjal-3260	422	15	adopt	adopt	VERB
cjal-3260	422	16	a	a	DET
cjal-3260	422	17	statute	statute	NOUN
cjal-3260	422	18	or	or	CCONJ
cjal-3260	422	19	set	set	NOUN
cjal-3260	422	20	of	of	ADP
cjal-3260	422	21	rules	rule	NOUN
cjal-3260	422	22	with	with	ADP
cjal-3260	422	23	fairly	fairly	ADV
cjal-3260	422	24	specific	specific	ADJ
cjal-3260	422	25	guidelines	guideline	NOUN
cjal-3260	422	26	.	.	PUNCT
cjal-3260	423	1	at	at	ADV
cjal-3260	423	2	least	least	ADV
cjal-3260	423	3	two	two	NUM
cjal-3260	423	4	families	family	NOUN
cjal-3260	423	5	of	of	ADP
cjal-3260	423	6	precedent	precedent	NOUN
cjal-3260	423	7	are	be	AUX
cjal-3260	423	8	now	now	ADV
cjal-3260	423	9	available	available	ADJ
cjal-3260	423	10	:	:	PUNCT
cjal-3260	423	11	(	(	PUNCT
cjal-3260	423	12	i	i	NOUN
cjal-3260	423	13	)	)	PUNCT
cjal-3260	423	14	the	the	DET
cjal-3260	423	15	japanese	japanese	ADJ
cjal-3260	423	16	takeover	takeover	NOUN
cjal-3260	423	17	guidelines	guideline	NOUN
cjal-3260	423	18	and	and	CCONJ
cjal-3260	423	19	the	the	DET
cjal-3260	423	20	delaware	delaware	PROPN
cjal-3260	423	21	court	court	PROPN
cjal-3260	423	22	standards	standard	NOUN
cjal-3260	423	23	of	of	ADP
cjal-3260	423	24	reasonableness	reasonableness	NOUN
cjal-3260	423	25	and	and	CCONJ
cjal-3260	423	26	proportionality	proportionality	NOUN
cjal-3260	423	27	;	;	PUNCT
cjal-3260	423	28	and	and	CCONJ
cjal-3260	423	29	(	(	PUNCT
cjal-3260	423	30	ii	ii	NOUN
cjal-3260	423	31	)	)	PUNCT
cjal-3260	423	32	the	the	DET
cjal-3260	423	33	uk	uk	PROPN
cjal-3260	423	34	and	and	CCONJ
cjal-3260	423	35	europe	europe	PROPN
cjal-3260	423	36	's	's	PART
cjal-3260	423	37	non	non	ADJ
cjal-3260	423	38	-	-	ADJ
cjal-3260	423	39	frustration	frustration	ADJ
cjal-3260	423	40	rule	rule	NOUN
cjal-3260	423	41	.	.	PUNCT
cjal-3260	424	1	the	the	DET
cjal-3260	424	2	former	former	ADJ
cjal-3260	424	3	would	would	AUX
cjal-3260	424	4	empower	empower	VERB
cjal-3260	424	5	the	the	DET
cjal-3260	424	6	board	board	NOUN
cjal-3260	424	7	to	to	PART
cjal-3260	424	8	reject	reject	VERB
cjal-3260	424	9	an	an	DET
cjal-3260	424	10	unsolicited	unsolicited	ADJ
cjal-3260	424	11	takeover	takeover	NOUN
cjal-3260	424	12	bid	bid	NOUN
cjal-3260	424	13	or	or	CCONJ
cjal-3260	424	14	negotiate	negotiate	VERB
cjal-3260	424	15	on	on	ADP
cjal-3260	424	16	behalf	behalf	NOUN
cjal-3260	424	17	of	of	ADP
cjal-3260	424	18	shareholders	shareholder	NOUN
cjal-3260	424	19	if	if	SCONJ
cjal-3260	424	20	it	it	PRON
cjal-3260	424	21	decides	decide	VERB
cjal-3260	424	22	to	to	PART
cjal-3260	424	23	entertain	entertain	VERB
cjal-3260	424	24	the	the	DET
cjal-3260	424	25	bid	bid	NOUN
cjal-3260	424	26	,	,	PUNCT
cjal-3260	424	27	all	all	PRON
cjal-3260	424	28	while	while	SCONJ
cjal-3260	424	29	using	use	VERB
cjal-3260	424	30	the	the	DET
cjal-3260	424	31	poison	poison	NOUN
cjal-3260	424	32	pill	pill	NOUN
cjal-3260	424	33	as	as	ADP
cjal-3260	424	34	leverage	leverage	NOUN
cjal-3260	424	35	in	in	ADP
cjal-3260	424	36	the	the	DET
cjal-3260	424	37	negotiations	negotiation	NOUN
cjal-3260	424	38	or	or	CCONJ
cjal-3260	424	39	as	as	ADP
cjal-3260	424	40	a	a	DET
cjal-3260	424	41	complete	complete	ADJ
cjal-3260	424	42	deterrent	deterrent	NOUN
cjal-3260	424	43	if	if	SCONJ
cjal-3260	424	44	the	the	DET
cjal-3260	424	45	decision	decision	NOUN
cjal-3260	424	46	is	be	AUX
cjal-3260	424	47	to	to	PART
cjal-3260	424	48	reject	reject	VERB
cjal-3260	424	49	the	the	DET
cjal-3260	424	50	bid	bid	NOUN
cjal-3260	424	51	.	.	PUNCT
cjal-3260	425	1	the	the	DET
cjal-3260	425	2	latter	latter	ADJ
cjal-3260	425	3	would	would	AUX
cjal-3260	425	4	require	require	VERB
cjal-3260	425	5	the	the	DET
cjal-3260	425	6	board	board	NOUN
cjal-3260	425	7	to	to	PART
cjal-3260	425	8	redeem	redeem	VERB
cjal-3260	425	9	a	a	DET
cjal-3260	425	10	poison	poison	NOUN
cjal-3260	425	11	pill	pill	NOUN
cjal-3260	425	12	in	in	ADP
cjal-3260	425	13	the	the	DET
cjal-3260	425	14	event	event	NOUN
cjal-3260	425	15	it	it	PRON
cjal-3260	425	16	receives	receive	VERB
cjal-3260	425	17	a	a	DET
cjal-3260	425	18	premium	premium	NOUN
cjal-3260	425	19	offer	offer	NOUN
cjal-3260	425	20	and	and	CCONJ
cjal-3260	425	21	pass	pass	VERB
cjal-3260	425	22	the	the	DET
cjal-3260	425	23	decision	decision	NOUN
cjal-3260	425	24	directly	directly	ADV
cjal-3260	425	25	to	to	ADP
cjal-3260	425	26	shareholders	shareholder	NOUN
cjal-3260	425	27	.	.	PUNCT
cjal-3260	426	1	a	a	DET
cjal-3260	426	2	passive	passive	ADJ
cjal-3260	426	3	board	board	NOUN
cjal-3260	426	4	has	have	VERB
cjal-3260	426	5	no	no	DET
cjal-3260	426	6	need	need	NOUN
cjal-3260	426	7	of	of	ADP
cjal-3260	426	8	a	a	DET
cjal-3260	426	9	poison	poison	NOUN
cjal-3260	426	10	pill	pill	NOUN
cjal-3260	426	11	post	post	NOUN
cjal-3260	426	12	-	-	ADJ
cjal-3260	426	13	bid	bid	ADJ
cjal-3260	426	14	,	,	PUNCT
cjal-3260	426	15	and	and	CCONJ
cjal-3260	426	16	must	must	AUX
cjal-3260	426	17	remove	remove	VERB
cjal-3260	426	18	it	it	PRON
cjal-3260	426	19	if	if	SCONJ
cjal-3260	426	20	shareholders	shareholder	NOUN
cjal-3260	426	21	accept	accept	VERB
cjal-3260	426	22	the	the	DET
cjal-3260	426	23	bid	bid	NOUN
cjal-3260	426	24	.	.	PUNCT
cjal-3260	427	1	other	other	ADJ
cjal-3260	427	2	defensive	defensive	ADJ
cjal-3260	427	3	measures	measure	NOUN
cjal-3260	427	4	may	may	AUX
cjal-3260	427	5	be	be	AUX
cjal-3260	427	6	permitted	permit	VERB
cjal-3260	427	7	under	under	ADP
cjal-3260	427	8	the	the	DET
cjal-3260	427	9	opt	opt	VERB
cjal-3260	427	10	-	-	PUNCT
cjal-3260	427	11	in	in	ADP
cjal-3260	427	12	code	code	NOUN
cjal-3260	427	13	,	,	PUNCT
cjal-3260	427	14	to	to	PART
cjal-3260	427	15	deter	deter	VERB
cjal-3260	427	16	partial	partial	ADJ
cjal-3260	427	17	or	or	CCONJ
cjal-3260	427	18	insufficient	insufficient	ADJ
cjal-3260	427	19	102	102	NUM
cjal-3260	427	20	reemers	reemer	NOUN
cjal-3260	427	21	et	et	VERB
cjal-3260	427	22	al	al	PROPN
cjal-3260	427	23	.	.	PROPN
cjal-3260	427	24	,	,	PUNCT
cjal-3260	427	25	supra	supra	PROPN
cjal-3260	427	26	note	note	VERB
cjal-3260	427	27	87	87	NUM
cjal-3260	427	28	.	.	PUNCT
cjal-3260	428	1	[	[	X
cjal-3260	428	2	20:2	20:2	NUM
cjal-3260	428	3	national	national	ADJ
cjal-3260	428	4	markets	market	NOUN
cjal-3260	428	5	,	,	PUNCT
cjal-3260	428	6	new	new	ADJ
cjal-3260	428	7	defenses	defense	NOUN
cjal-3260	428	8	offers	offer	VERB
cjal-3260	428	9	.	.	PUNCT
cjal-3260	429	1	a	a	DET
cjal-3260	429	2	minimum	minimum	ADJ
cjal-3260	429	3	qualifying	qualifying	NOUN
cjal-3260	429	4	bid	bid	NOUN
cjal-3260	429	5	may	may	AUX
cjal-3260	429	6	be	be	AUX
cjal-3260	429	7	set	set	VERB
cjal-3260	429	8	,	,	PUNCT
cjal-3260	429	9	at	at	ADP
cjal-3260	429	10	which	which	DET
cjal-3260	429	11	point	point	NOUN
cjal-3260	429	12	the	the	DET
cjal-3260	429	13	passivity	passivity	NOUN
cjal-3260	429	14	obligation	obligation	NOUN
cjal-3260	429	15	is	be	AUX
cjal-3260	429	16	triggered	trigger	VERB
cjal-3260	429	17	.	.	PUNCT
cjal-3260	430	1	if	if	SCONJ
cjal-3260	430	2	board	board	NOUN
cjal-3260	430	3	discretion	discretion	NOUN
cjal-3260	430	4	is	be	AUX
cjal-3260	430	5	chosen	choose	VERB
cjal-3260	430	6	(	(	PUNCT
cjal-3260	430	7	i.e.	i.e.	X
cjal-3260	430	8	,	,	PUNCT
cjal-3260	430	9	the	the	DET
cjal-3260	430	10	japanese	japanese	ADJ
cjal-3260	430	11	and	and	CCONJ
cjal-3260	430	12	american	american	ADJ
cjal-3260	430	13	systems	system	NOUN
cjal-3260	430	14	)	)	PUNCT
cjal-3260	430	15	,	,	PUNCT
cjal-3260	430	16	the	the	DET
cjal-3260	430	17	opt	opt	VERB
cjal-3260	430	18	-	-	PUNCT
cjal-3260	430	19	in	in	ADP
cjal-3260	430	20	scheme	scheme	NOUN
cjal-3260	430	21	must	must	AUX
cjal-3260	430	22	protect	protect	VERB
cjal-3260	430	23	the	the	DET
cjal-3260	430	24	shareholder	shareholder	NOUN
cjal-3260	430	25	franchise	franchise	NOUN
cjal-3260	430	26	.	.	PUNCT
cjal-3260	431	1	the	the	DET
cjal-3260	431	2	one	one	NUM
cjal-3260	431	3	-	-	PUNCT
cjal-3260	431	4	share	share	NOUN
cjal-3260	431	5	,	,	PUNCT
cjal-3260	431	6	one	one	NUM
cjal-3260	431	7	-	-	PUNCT
cjal-3260	431	8	vote	vote	NOUN
cjal-3260	431	9	eligibility	eligibility	NOUN
cjal-3260	431	10	criteria	criterion	NOUN
cjal-3260	431	11	will	will	AUX
cjal-3260	431	12	be	be	AUX
cjal-3260	431	13	meaningless	meaningless	ADJ
cjal-3260	431	14	if	if	SCONJ
cjal-3260	431	15	other	other	ADJ
cjal-3260	431	16	measures	measure	NOUN
cjal-3260	431	17	are	be	AUX
cjal-3260	431	18	permitted	permit	VERB
cjal-3260	431	19	under	under	ADP
cjal-3260	431	20	the	the	DET
cjal-3260	431	21	opt	opt	VERB
cjal-3260	431	22	-	-	PUNCT
cjal-3260	431	23	in	in	ADP
cjal-3260	431	24	code	code	NOUN
cjal-3260	431	25	that	that	PRON
cjal-3260	431	26	entrench	entrench	VERB
cjal-3260	431	27	management	management	NOUN
cjal-3260	431	28	in	in	ADP
cjal-3260	431	29	new	new	ADJ
cjal-3260	431	30	and	and	CCONJ
cjal-3260	431	31	different	different	ADJ
cjal-3260	431	32	ways	way	NOUN
cjal-3260	431	33	.	.	PUNCT
cjal-3260	432	1	the	the	DET
cjal-3260	432	2	pill	pill	NOUN
cjal-3260	432	3	will	will	AUX
cjal-3260	432	4	be	be	AUX
cjal-3260	432	5	available	available	ADJ
cjal-3260	432	6	to	to	PART
cjal-3260	432	7	protect	protect	VERB
cjal-3260	432	8	the	the	DET
cjal-3260	432	9	board	board	NOUN
cjal-3260	432	10	's	's	PART
cjal-3260	432	11	ability	ability	NOUN
cjal-3260	432	12	to	to	PART
cjal-3260	432	13	govern	govern	VERB
cjal-3260	432	14	the	the	DET
cjal-3260	432	15	company	company	NOUN
cjal-3260	432	16	in	in	ADP
cjal-3260	432	17	an	an	DET
cjal-3260	432	18	atmosphere	atmosphere	NOUN
cjal-3260	432	19	of	of	ADP
cjal-3260	432	20	institutional	institutional	ADJ
cjal-3260	432	21	stability	stability	NOUN
cjal-3260	432	22	.	.	PUNCT
cjal-3260	433	1	it	it	PRON
cjal-3260	433	2	will	will	AUX
cjal-3260	433	3	enable	enable	VERB
cjal-3260	433	4	the	the	DET
cjal-3260	433	5	board	board	NOUN
cjal-3260	433	6	to	to	PART
cjal-3260	433	7	negotiate	negotiate	VERB
cjal-3260	433	8	for	for	ADP
cjal-3260	433	9	the	the	DET
cjal-3260	433	10	best	good	ADJ
cjal-3260	433	11	deal	deal	NOUN
cjal-3260	433	12	under	under	ADP
cjal-3260	433	13	the	the	DET
cjal-3260	433	14	circumstances	circumstance	NOUN
cjal-3260	433	15	for	for	ADP
cjal-3260	433	16	shareholders	shareholder	NOUN
cjal-3260	433	17	.	.	PUNCT
cjal-3260	434	1	it	it	PRON
cjal-3260	434	2	should	should	AUX
cjal-3260	434	3	not	not	PART
cjal-3260	434	4	be	be	AUX
cjal-3260	434	5	coupled	couple	VERB
cjal-3260	434	6	with	with	ADP
cjal-3260	434	7	a	a	DET
cjal-3260	434	8	staggered	staggered	ADJ
cjal-3260	434	9	board	board	NOUN
cjal-3260	434	10	with	with	ADP
cjal-3260	434	11	no	no	DET
cjal-3260	434	12	trumping	trump	VERB
cjal-3260	434	13	provision	provision	NOUN
cjal-3260	434	14	,	,	PUNCT
cjal-3260	434	15	such	such	ADJ
cjal-3260	434	16	that	that	SCONJ
cjal-3260	434	17	the	the	DET
cjal-3260	434	18	company	company	NOUN
cjal-3260	434	19	is	be	AUX
cjal-3260	434	20	takeoverproof	takeoverproof	ADJ
cjal-3260	434	21	and	and	CCONJ
cjal-3260	434	22	will	will	AUX
cjal-3260	434	23	remain	remain	VERB
cjal-3260	434	24	so	so	ADV
cjal-3260	434	25	despite	despite	SCONJ
cjal-3260	434	26	shareholders	shareholder	NOUN
cjal-3260	434	27	'	'	PART
cjal-3260	434	28	wish	wish	NOUN
cjal-3260	434	29	to	to	PART
cjal-3260	434	30	sell	sell	VERB
cjal-3260	434	31	.	.	PUNCT
cjal-3260	435	1	the	the	DET
cjal-3260	435	2	poison	poison	NOUN
cjal-3260	435	3	pill	pill	NOUN
cjal-3260	435	4	can	can	AUX
cjal-3260	435	5	be	be	AUX
cjal-3260	435	6	used	use	VERB
cjal-3260	435	7	to	to	PART
cjal-3260	435	8	decline	decline	VERB
cjal-3260	435	9	a	a	DET
cjal-3260	435	10	buyout	buyout	NOUN
cjal-3260	435	11	offer	offer	NOUN
cjal-3260	435	12	in	in	ADP
cjal-3260	435	13	a	a	DET
cjal-3260	435	14	specific	specific	ADJ
cjal-3260	435	15	circumstance	circumstance	NOUN
cjal-3260	435	16	,	,	PUNCT
cjal-3260	435	17	consistent	consistent	ADJ
cjal-3260	435	18	with	with	ADP
cjal-3260	435	19	fiduciary	fiduciary	ADJ
cjal-3260	435	20	duties	duty	NOUN
cjal-3260	435	21	.	.	PUNCT
cjal-3260	436	1	however	however	ADV
cjal-3260	436	2	,	,	PUNCT
cjal-3260	436	3	if	if	SCONJ
cjal-3260	436	4	the	the	DET
cjal-3260	436	5	bidder	bidder	NOUN
cjal-3260	436	6	then	then	ADV
cjal-3260	436	7	wins	win	VERB
cjal-3260	436	8	a	a	DET
cjal-3260	436	9	proxy	proxy	NOUN
cjal-3260	436	10	contest	contest	NOUN
cjal-3260	436	11	and	and	CCONJ
cjal-3260	436	12	places	place	VERB
cjal-3260	436	13	a	a	DET
cjal-3260	436	14	qualifying	qualifying	NOUN
cjal-3260	436	15	number	number	NOUN
cjal-3260	436	16	of	of	ADP
cjal-3260	436	17	directors	director	NOUN
cjal-3260	436	18	on	on	ADP
cjal-3260	436	19	the	the	DET
cjal-3260	436	20	board	board	NOUN
cjal-3260	436	21	,	,	PUNCT
cjal-3260	436	22	or	or	CCONJ
cjal-3260	436	23	receives	receive	VERB
cjal-3260	436	24	a	a	DET
cjal-3260	436	25	majority	majority	NOUN
cjal-3260	436	26	or	or	CCONJ
cjal-3260	436	27	other	other	ADJ
cjal-3260	436	28	qualifying	qualifying	NOUN
cjal-3260	436	29	percentage	percentage	NOUN
cjal-3260	436	30	of	of	ADP
cjal-3260	436	31	votes	vote	NOUN
cjal-3260	436	32	for	for	ADP
cjal-3260	436	33	its	its	PRON
cjal-3260	436	34	nominee(s	nominee(s	NOUN
cjal-3260	436	35	)	)	PUNCT
cjal-3260	436	36	,	,	PUNCT
cjal-3260	436	37	then	then	ADV
cjal-3260	436	38	the	the	DET
cjal-3260	436	39	pill	pill	NOUN
cjal-3260	436	40	would	would	AUX
cjal-3260	436	41	become	become	VERB
cjal-3260	436	42	void	void	ADJ
cjal-3260	436	43	and	and	CCONJ
cjal-3260	436	44	the	the	DET
cjal-3260	436	45	board	board	NOUN
cjal-3260	436	46	would	would	AUX
cjal-3260	436	47	be	be	AUX
cjal-3260	436	48	required	require	VERB
cjal-3260	436	49	to	to	PART
cjal-3260	436	50	adopt	adopt	VERB
cjal-3260	436	51	a	a	DET
cjal-3260	436	52	passive	passive	ADJ
cjal-3260	436	53	role	role	NOUN
cjal-3260	436	54	,	,	PUNCT
cjal-3260	436	55	allowing	allow	VERB
cjal-3260	436	56	the	the	DET
cjal-3260	436	57	bidder	bidder	NOUN
cjal-3260	436	58	's	's	PART
cjal-3260	436	59	offer	offer	NOUN
cjal-3260	436	60	to	to	PART
cjal-3260	436	61	then	then	ADV
cjal-3260	436	62	go	go	VERB
cjal-3260	436	63	to	to	ADP
cjal-3260	436	64	shareholders	shareholder	NOUN
cjal-3260	436	65	.	.	PUNCT
cjal-3260	437	1	the	the	DET
cjal-3260	437	2	shareholder	shareholder	NOUN
cjal-3260	437	3	vote	vote	NOUN
cjal-3260	437	4	in	in	ADP
cjal-3260	437	5	the	the	DET
cjal-3260	437	6	proxy	proxy	NOUN
cjal-3260	437	7	contest	contest	NOUN
cjal-3260	437	8	would	would	AUX
cjal-3260	437	9	be	be	AUX
cjal-3260	437	10	determinative	determinative	ADJ
cjal-3260	437	11	:	:	PUNCT
cjal-3260	437	12	where	where	SCONJ
cjal-3260	437	13	shareholders	shareholder	NOUN
cjal-3260	437	14	vote	vote	VERB
cjal-3260	437	15	in	in	ADP
cjal-3260	437	16	the	the	DET
cjal-3260	437	17	nominees	nominee	NOUN
cjal-3260	437	18	of	of	ADP
cjal-3260	437	19	the	the	DET
cjal-3260	437	20	rejected	reject	VERB
cjal-3260	437	21	bidder	bidder	NOUN
cjal-3260	437	22	by	by	ADP
cjal-3260	437	23	a	a	DET
cjal-3260	437	24	qualifying	qualifying	NOUN
cjal-3260	437	25	percentage	percentage	NOUN
cjal-3260	437	26	,	,	PUNCT
cjal-3260	437	27	the	the	DET
cjal-3260	437	28	message	message	NOUN
cjal-3260	437	29	is	be	AUX
cjal-3260	437	30	that	that	SCONJ
cjal-3260	437	31	the	the	DET
cjal-3260	437	32	incumbent	incumbent	ADJ
cjal-3260	437	33	board	board	NOUN
cjal-3260	437	34	in	in	ADP
cjal-3260	437	35	fact	fact	NOUN
cjal-3260	437	36	did	do	AUX
cjal-3260	437	37	not	not	PART
cjal-3260	437	38	act	act	VERB
cjal-3260	437	39	in	in	ADP
cjal-3260	437	40	shareholders	shareholder	NOUN
cjal-3260	437	41	'	'	PART
cjal-3260	437	42	best	good	ADJ
cjal-3260	437	43	interest	interest	NOUN
cjal-3260	437	44	when	when	SCONJ
cjal-3260	437	45	it	it	PRON
cjal-3260	437	46	turned	turn	VERB
cjal-3260	437	47	away	away	ADV
cjal-3260	437	48	the	the	DET
cjal-3260	437	49	bidder	bidder	NOUN
cjal-3260	437	50	.	.	PUNCT
cjal-3260	438	1	as	as	SCONJ
cjal-3260	438	2	professors	professor	NOUN
cjal-3260	438	3	black	black	ADJ
cjal-3260	438	4	and	and	CCONJ
cjal-3260	438	5	kraakman	kraakman	NOUN
cjal-3260	438	6	put	put	VERB
cjal-3260	438	7	it	it	PRON
cjal-3260	438	8	,	,	PUNCT
cjal-3260	438	9	the	the	DET
cjal-3260	438	10	board	board	NOUN
cjal-3260	438	11	could	could	AUX
cjal-3260	438	12	not	not	PART
cjal-3260	438	13	say	say	VERB
cjal-3260	438	14	"	"	PUNCT
cjal-3260	438	15	never	never	ADV
cjal-3260	438	16	.	.	PUNCT
cjal-3260	438	17	"	"	PUNCT
cjal-3260	439	1	103	103	NUM
cjal-3260	439	2	the	the	DET
cjal-3260	439	3	opt	opt	VERB
cjal-3260	439	4	-	-	PUNCT
cjal-3260	439	5	in	in	ADP
cjal-3260	439	6	regime	regime	NOUN
cjal-3260	439	7	may	may	AUX
cjal-3260	439	8	need	need	VERB
cjal-3260	439	9	to	to	PART
cjal-3260	439	10	contain	contain	VERB
cjal-3260	439	11	enhanced	enhanced	ADJ
cjal-3260	439	12	disclosure	disclosure	NOUN
cjal-3260	439	13	requirements	requirement	NOUN
cjal-3260	439	14	for	for	ADP
cjal-3260	439	15	companies	company	NOUN
cjal-3260	439	16	opting	opt	VERB
cjal-3260	439	17	in	in	ADP
cjal-3260	439	18	if	if	SCONJ
cjal-3260	439	19	the	the	DET
cjal-3260	439	20	background	background	NOUN
cjal-3260	439	21	rules	rule	NOUN
cjal-3260	439	22	are	be	AUX
cjal-3260	439	23	insufficient	insufficient	ADJ
cjal-3260	439	24	to	to	PART
cjal-3260	439	25	adequately	adequately	ADV
cjal-3260	439	26	inform	inform	VERB
cjal-3260	439	27	shareholders	shareholder	NOUN
cjal-3260	439	28	about	about	ADP
cjal-3260	439	29	firm	firm	ADJ
cjal-3260	439	30	value	value	NOUN
cjal-3260	439	31	,	,	PUNCT
cjal-3260	439	32	including	include	VERB
cjal-3260	439	33	a	a	DET
cjal-3260	439	34	full	full	ADJ
cjal-3260	439	35	description	description	NOUN
cjal-3260	439	36	and	and	CCONJ
cjal-3260	439	37	access	access	NOUN
cjal-3260	439	38	to	to	ADP
cjal-3260	439	39	the	the	DET
cjal-3260	439	40	legal	legal	ADJ
cjal-3260	439	41	documents	document	NOUN
cjal-3260	439	42	containing	contain	VERB
cjal-3260	439	43	all	all	DET
cjal-3260	439	44	takeover	takeover	NOUN
cjal-3260	439	45	defenses	defense	NOUN
cjal-3260	439	46	.	.	PUNCT
cjal-3260	440	1	consistent	consistent	ADJ
cjal-3260	440	2	with	with	ADP
cjal-3260	440	3	protecting	protect	VERB
cjal-3260	440	4	the	the	DET
cjal-3260	440	5	shareholder	shareholder	NOUN
cjal-3260	440	6	franchise	franchise	NOUN
cjal-3260	440	7	in	in	ADP
cjal-3260	440	8	the	the	DET
cjal-3260	440	9	new	new	ADJ
cjal-3260	440	10	legal	legal	ADJ
cjal-3260	440	11	scheme	scheme	NOUN
cjal-3260	440	12	that	that	PRON
cjal-3260	440	13	allows	allow	VERB
cjal-3260	440	14	enhanced	enhanced	ADJ
cjal-3260	440	15	takeover	takeover	NOUN
cjal-3260	440	16	protections	protection	NOUN
cjal-3260	440	17	,	,	PUNCT
cjal-3260	440	18	shareholders	shareholder	NOUN
cjal-3260	440	19	must	must	AUX
cjal-3260	440	20	have	have	VERB
cjal-3260	440	21	adequate	adequate	ADJ
cjal-3260	440	22	information	information	NOUN
cjal-3260	440	23	to	to	PART
cjal-3260	440	24	recognize	recognize	VERB
cjal-3260	440	25	the	the	DET
cjal-3260	440	26	true	true	ADJ
cjal-3260	440	27	value	value	NOUN
cjal-3260	440	28	of	of	ADP
cjal-3260	440	29	the	the	DET
cjal-3260	440	30	firm	firm	NOUN
cjal-3260	440	31	.	.	PUNCT
cjal-3260	441	1	the	the	DET
cjal-3260	441	2	opt	opt	VERB
cjal-3260	441	3	-	-	PUNCT
cjal-3260	441	4	in	in	ADP
cjal-3260	441	5	regime	regime	NOUN
cjal-3260	441	6	should	should	AUX
cjal-3260	441	7	not	not	PART
cjal-3260	441	8	allow	allow	VERB
cjal-3260	441	9	boards	board	NOUN
cjal-3260	441	10	to	to	PART
cjal-3260	441	11	hide	hide	VERB
cjal-3260	441	12	behind	behind	ADP
cjal-3260	441	13	a	a	DET
cjal-3260	441	14	"	"	PUNCT
cjal-3260	441	15	hidden	hidden	ADJ
cjal-3260	441	16	value	value	NOUN
cjal-3260	441	17	"	"	PUNCT
cjal-3260	441	18	presumption	presumption	NOUN
cjal-3260	441	19	that	that	SCONJ
cjal-3260	441	20	they	they	PRON
cjal-3260	441	21	are	be	AUX
cjal-3260	441	22	able	able	ADJ
cjal-3260	441	23	to	to	PART
cjal-3260	441	24	detect	detect	VERB
cjal-3260	441	25	the	the	DET
cjal-3260	441	26	true	true	ADJ
cjal-3260	441	27	value	value	NOUN
cjal-3260	441	28	of	of	ADP
cjal-3260	441	29	the	the	DET
cjal-3260	441	30	firm	firm	NOUN
cjal-3260	441	31	,	,	PUNCT
cjal-3260	441	32	but	but	CCONJ
cjal-3260	441	33	bidders	bidder	NOUN
cjal-3260	441	34	and	and	CCONJ
cjal-3260	441	35	shareholders	shareholder	NOUN
cjal-3260	441	36	are	be	AUX
cjal-3260	441	37	not	not	PART
cjal-3260	441	38	,	,	PUNCT
cjal-3260	441	39	in	in	ADP
cjal-3260	441	40	addition	addition	NOUN
cjal-3260	441	41	to	to	ADP
cjal-3260	441	42	their	their	PRON
cjal-3260	441	43	poison	poison	NOUN
cjal-3260	441	44	pill	pill	NOUN
cjal-3260	441	45	.	.	PUNCT
cjal-3260	442	1	a	a	DET
cjal-3260	442	2	definitive	definitive	ADJ
cjal-3260	442	3	determination	determination	NOUN
cjal-3260	442	4	of	of	ADP
cjal-3260	442	5	when	when	SCONJ
cjal-3260	442	6	the	the	DET
cjal-3260	442	7	board	board	NOUN
cjal-3260	442	8	has	have	AUX
cjal-3260	442	9	got	get	VERB
cjal-3260	442	10	it	it	PRON
cjal-3260	442	11	wrong	wrong	ADJ
cjal-3260	442	12	is	be	AUX
cjal-3260	442	13	available	available	ADJ
cjal-3260	442	14	in	in	ADP
cjal-3260	442	15	the	the	DET
cjal-3260	442	16	outcome	outcome	NOUN
cjal-3260	442	17	of	of	ADP
cjal-3260	442	18	a	a	DET
cjal-3260	442	19	proxy	proxy	ADJ
cjal-3260	442	20	battle	battle	NOUN
cjal-3260	442	21	.	.	PUNCT
cjal-3260	443	1	the	the	DET
cjal-3260	443	2	opt	opt	VERB
cjal-3260	443	3	-	-	PUNCT
cjal-3260	443	4	in	in	ADP
cjal-3260	443	5	regime	regime	NOUN
cjal-3260	443	6	must	must	AUX
cjal-3260	443	7	therefore	therefore	ADV
cjal-3260	443	8	enable	enable	VERB
cjal-3260	443	9	the	the	DET
cjal-3260	443	10	bidder	bidder	NOUN
cjal-3260	443	11	to	to	PART
cjal-3260	443	12	launch	launch	VERB
cjal-3260	443	13	a	a	DET
cjal-3260	443	14	proxy	proxy	NOUN
cjal-3260	443	15	fight	fight	NOUN
cjal-3260	443	16	and	and	CCONJ
cjal-3260	443	17	put	put	VERB
cjal-3260	443	18	the	the	DET
cjal-3260	443	19	buyout	buyout	NOUN
cjal-3260	443	20	offer	offer	NOUN
cjal-3260	443	21	to	to	ADP
cjal-3260	443	22	the	the	DET
cjal-3260	443	23	shareholders	shareholder	NOUN
cjal-3260	443	24	if	if	SCONJ
cjal-3260	443	25	the	the	DET
cjal-3260	443	26	proxy	proxy	NOUN
cjal-3260	443	27	contest	contest	NOUN
cjal-3260	443	28	is	be	AUX
cjal-3260	443	29	won	win	VERB
cjal-3260	443	30	by	by	ADP
cjal-3260	443	31	the	the	DET
cjal-3260	443	32	bidder	bidder	NOUN
cjal-3260	443	33	in	in	ADP
cjal-3260	443	34	a	a	DET
cjal-3260	443	35	single	single	ADJ
cjal-3260	443	36	election	election	NOUN
cjal-3260	443	37	.	.	PUNCT
cjal-3260	444	1	103	103	NUM
cjal-3260	444	2	bernard	bernard	PROPN
cjal-3260	444	3	s.	s.	PROPN
cjal-3260	444	4	black	black	PROPN
cjal-3260	444	5	&	&	CCONJ
cjal-3260	444	6	reinier	reinier	PROPN
cjal-3260	444	7	kraakman	kraakman	PROPN
cjal-3260	444	8	,	,	PUNCT
cjal-3260	444	9	delaware	delaware	PROPN
cjal-3260	444	10	's	's	PART
cjal-3260	444	11	takeover	takeover	NOUN
cjal-3260	444	12	law	law	NOUN
cjal-3260	444	13	:	:	PUNCT
cjal-3260	444	14	the	the	DET
cjal-3260	444	15	uncertain	uncertain	ADJ
cjal-3260	444	16	search	search	NOUN
cjal-3260	444	17	for	for	ADP
cjal-3260	444	18	hidden	hide	VERB
cjal-3260	444	19	value	value	NOUN
cjal-3260	444	20	,	,	PUNCT
cjal-3260	444	21	95	95	NUM
cjal-3260	444	22	nw	nw	X
cjal-3260	444	23	.	.	PUNCT
cjal-3260	444	24	u.	u.	PROPN
cjal-3260	444	25	l.	l.	PROPN
cjal-3260	444	26	rev	rev	PROPN
cjal-3260	444	27	.	.	PROPN
cjal-3260	444	28	521	521	NUM
cjal-3260	444	29	,	,	PUNCT
cjal-3260	444	30	525	525	NUM
cjal-3260	444	31	(	(	PUNCT
cjal-3260	444	32	2002	2002	NUM
cjal-3260	444	33	)	)	PUNCT
cjal-3260	444	34	.	.	PUNCT
cjal-3260	445	1	2007	2007	NUM
cjal-3260	445	2	]	]	PUNCT
cjal-3260	445	3	columbia	columbia	PROPN
cjal-3260	445	4	journal	journal	PROPN
cjal-3260	445	5	of	of	ADP
cjal-3260	445	6	asian	asian	PROPN
cjal-3260	445	7	la	la	PROPN
cjal-3260	445	8	w	w	PROPN
cjal-3260	445	9	dual	dual	ADJ
cjal-3260	445	10	class	class	NOUN
cjal-3260	445	11	shares	share	NOUN
cjal-3260	445	12	would	would	AUX
cjal-3260	445	13	be	be	AUX
cjal-3260	445	14	disallowed	disallow	VERB
cjal-3260	445	15	under	under	ADP
cjal-3260	445	16	the	the	DET
cjal-3260	445	17	eligibility	eligibility	NOUN
cjal-3260	445	18	requirement	requirement	NOUN
cjal-3260	445	19	of	of	ADP
cjal-3260	445	20	one	one	NUM
cjal-3260	445	21	-	-	PUNCT
cjal-3260	445	22	share	share	NOUN
cjal-3260	445	23	,	,	PUNCT
cjal-3260	445	24	one	one	NUM
cjal-3260	445	25	-	-	PUNCT
cjal-3260	445	26	vote	vote	NOUN
cjal-3260	445	27	,	,	PUNCT
cjal-3260	445	28	or	or	CCONJ
cjal-3260	445	29	disabled	disable	VERB
cjal-3260	445	30	by	by	ADP
cjal-3260	445	31	a	a	DET
cjal-3260	445	32	break	break	NOUN
cjal-3260	445	33	-	-	PUNCT
cjal-3260	445	34	through	through	ADP
cjal-3260	445	35	rule	rule	NOUN
cjal-3260	445	36	.	.	PUNCT
cjal-3260	446	1	v.	v.	ADP
cjal-3260	446	2	conclusion	conclusion	NOUN
cjal-3260	446	3	and	and	CCONJ
cjal-3260	446	4	research	research	NOUN
cjal-3260	446	5	agenda	agenda	NOUN
cjal-3260	446	6	companies	company	NOUN
cjal-3260	446	7	with	with	ADP
cjal-3260	446	8	disproportionate	disproportionate	ADJ
cjal-3260	446	9	ownership	ownership	NOUN
cjal-3260	446	10	and	and	CCONJ
cjal-3260	446	11	control	control	NOUN
cjal-3260	446	12	are	be	AUX
cjal-3260	446	13	afflicted	afflict	VERB
cjal-3260	446	14	with	with	ADP
cjal-3260	446	15	agency	agency	NOUN
cjal-3260	446	16	problems	problem	NOUN
cjal-3260	446	17	and	and	CCONJ
cjal-3260	446	18	perverse	perverse	ADJ
cjal-3260	446	19	incentives	incentive	NOUN
cjal-3260	446	20	for	for	SCONJ
cjal-3260	446	21	the	the	DET
cjal-3260	446	22	controller	controller	NOUN
cjal-3260	446	23	to	to	PART
cjal-3260	446	24	extract	extract	VERB
cjal-3260	446	25	private	private	ADJ
cjal-3260	446	26	benefits	benefit	NOUN
cjal-3260	446	27	at	at	ADP
cjal-3260	446	28	the	the	DET
cjal-3260	446	29	expense	expense	NOUN
cjal-3260	446	30	of	of	ADP
cjal-3260	446	31	the	the	DET
cjal-3260	446	32	other	other	ADJ
cjal-3260	446	33	shareholders	shareholder	NOUN
cjal-3260	446	34	and	and	CCONJ
cjal-3260	446	35	corporate	corporate	ADJ
cjal-3260	446	36	constituents	constituent	NOUN
cjal-3260	446	37	.	.	PUNCT
cjal-3260	447	1	cms	cms	NOUN
cjal-3260	447	2	companies	company	NOUN
cjal-3260	447	3	tend	tend	VERB
cjal-3260	447	4	to	to	PART
cjal-3260	447	5	suffer	suffer	VERB
cjal-3260	447	6	in	in	ADP
cjal-3260	447	7	their	their	PRON
cjal-3260	447	8	market	market	NOUN
cjal-3260	447	9	valuations	valuation	NOUN
cjal-3260	447	10	as	as	ADP
cjal-3260	447	11	a	a	DET
cjal-3260	447	12	result	result	NOUN
cjal-3260	447	13	.	.	PUNCT
cjal-3260	448	1	with	with	ADP
cjal-3260	448	2	the	the	DET
cjal-3260	448	3	arrival	arrival	NOUN
cjal-3260	448	4	of	of	ADP
cjal-3260	448	5	foreign	foreign	NOUN
cjal-3260	448	6	-	-	PUNCT
cjal-3260	448	7	based	base	VERB
cjal-3260	448	8	investors	investor	NOUN
cjal-3260	448	9	in	in	ADP
cjal-3260	448	10	east	east	ADJ
cjal-3260	448	11	asian	asian	ADJ
cjal-3260	448	12	markets	market	NOUN
cjal-3260	448	13	and	and	CCONJ
cjal-3260	448	14	their	their	PRON
cjal-3260	448	15	cowboy	cowboy	ADJ
cjal-3260	448	16	capitalist	capitalist	ADJ
cjal-3260	448	17	ways	way	NOUN
cjal-3260	448	18	,	,	PUNCT
cjal-3260	448	19	companies	company	NOUN
cjal-3260	448	20	formerly	formerly	ADV
cjal-3260	448	21	protected	protect	VERB
cjal-3260	448	22	by	by	ADP
cjal-3260	448	23	friendly	friendly	ADJ
cjal-3260	448	24	shareholders	shareholder	NOUN
cjal-3260	448	25	find	find	VERB
cjal-3260	448	26	that	that	SCONJ
cjal-3260	448	27	they	they	PRON
cjal-3260	448	28	are	be	AUX
cjal-3260	448	29	at	at	ADP
cjal-3260	448	30	risk	risk	NOUN
cjal-3260	448	31	of	of	ADP
cjal-3260	448	32	hostile	hostile	ADJ
cjal-3260	448	33	takeovers	takeover	NOUN
cjal-3260	448	34	by	by	ADP
cjal-3260	448	35	bidders	bidder	NOUN
cjal-3260	448	36	that	that	SCONJ
cjal-3260	448	37	they	they	PRON
cjal-3260	448	38	can	can	AUX
cjal-3260	448	39	not	not	PART
cjal-3260	448	40	control	control	VERB
cjal-3260	448	41	or	or	CCONJ
cjal-3260	448	42	appease	appease	VERB
cjal-3260	448	43	via	via	ADP
cjal-3260	448	44	the	the	DET
cjal-3260	448	45	domestic	domestic	ADJ
cjal-3260	448	46	social	social	ADJ
cjal-3260	448	47	network	network	NOUN
cjal-3260	448	48	.	.	PUNCT
cjal-3260	449	1	exposed	expose	VERB
cjal-3260	449	2	companies	company	NOUN
cjal-3260	449	3	therefore	therefore	ADV
cjal-3260	449	4	look	look	VERB
cjal-3260	449	5	to	to	ADP
cjal-3260	449	6	the	the	DET
cjal-3260	449	7	corporate	corporate	ADJ
cjal-3260	449	8	law	law	NOUN
cjal-3260	449	9	system	system	NOUN
cjal-3260	449	10	to	to	PART
cjal-3260	449	11	offer	offer	VERB
cjal-3260	449	12	them	they	PRON
cjal-3260	449	13	protection	protection	NOUN
cjal-3260	449	14	from	from	ADP
cjal-3260	449	15	unsolicited	unsolicited	ADJ
cjal-3260	449	16	buyout	buyout	NOUN
cjal-3260	449	17	offers	offer	NOUN
cjal-3260	449	18	.	.	PUNCT
cjal-3260	450	1	board	board	NOUN
cjal-3260	450	2	passivity	passivity	NOUN
cjal-3260	450	3	of	of	ADP
cjal-3260	450	4	the	the	DET
cjal-3260	450	5	uk/	uk/	ADJ
cjal-3260	450	6	european	european	PROPN
cjal-3260	450	7	dtb	dtb	PROPN
cjal-3260	450	8	variety	variety	PROPN
cjal-3260	450	9	is	be	AUX
cjal-3260	450	10	not	not	PART
cjal-3260	450	11	a	a	DET
cjal-3260	450	12	satisfactory	satisfactory	ADJ
cjal-3260	450	13	system	system	NOUN
cjal-3260	450	14	for	for	ADP
cjal-3260	450	15	cms	cms	NOUN
cjal-3260	450	16	controllers	controller	NOUN
cjal-3260	450	17	who	who	PRON
cjal-3260	450	18	can	can	AUX
cjal-3260	450	19	not	not	PART
cjal-3260	450	20	vote	vote	VERB
cjal-3260	450	21	down	down	ADP
cjal-3260	450	22	the	the	DET
cjal-3260	450	23	bid	bid	NOUN
cjal-3260	450	24	by	by	ADP
cjal-3260	450	25	a	a	DET
cjal-3260	450	26	majority	majority	NOUN
cjal-3260	450	27	they	they	PRON
cjal-3260	450	28	do	do	AUX
cjal-3260	450	29	not	not	PART
cjal-3260	450	30	own	own	VERB
cjal-3260	450	31	in	in	ADP
cjal-3260	450	32	shares	share	NOUN
cjal-3260	450	33	.	.	PUNCT
cjal-3260	451	1	this	this	DET
cjal-3260	451	2	dilemma	dilemma	NOUN
cjal-3260	451	3	presents	present	VERB
cjal-3260	451	4	an	an	DET
cjal-3260	451	5	opportunity	opportunity	NOUN
cjal-3260	451	6	to	to	PART
cjal-3260	451	7	offer	offer	VERB
cjal-3260	451	8	the	the	DET
cjal-3260	451	9	desired	desire	VERB
cjal-3260	451	10	protection	protection	NOUN
cjal-3260	451	11	in	in	ADP
cjal-3260	451	12	exchange	exchange	NOUN
cjal-3260	451	13	for	for	ADP
cjal-3260	451	14	a	a	DET
cjal-3260	451	15	better	well	ADJ
cjal-3260	451	16	,	,	PUNCT
cjal-3260	451	17	more	more	ADV
cjal-3260	451	18	transparent	transparent	ADJ
cjal-3260	451	19	and	and	CCONJ
cjal-3260	451	20	socially	socially	ADV
cjal-3260	451	21	efficient	efficient	ADJ
cjal-3260	451	22	capital	capital	NOUN
cjal-3260	451	23	structure	structure	NOUN
cjal-3260	451	24	at	at	ADP
cjal-3260	451	25	cms	cms	NOUN
cjal-3260	451	26	companies	company	NOUN
cjal-3260	451	27	.	.	PUNCT
cjal-3260	452	1	an	an	DET
cjal-3260	452	2	opt	opt	VERB
cjal-3260	452	3	-	-	PUNCT
cjal-3260	452	4	in	in	ADP
cjal-3260	452	5	legal	legal	ADJ
cjal-3260	452	6	regime	regime	NOUN
cjal-3260	452	7	(	(	PUNCT
cjal-3260	452	8	an	an	DET
cjal-3260	452	9	"	"	PUNCT
cjal-3260	452	10	enhanced	enhanced	ADJ
cjal-3260	452	11	protection	protection	NOUN
cjal-3260	452	12	corporate	corporate	ADJ
cjal-3260	452	13	law	law	NOUN
cjal-3260	452	14	"	"	PUNCT
cjal-3260	452	15	)	)	PUNCT
cjal-3260	452	16	,	,	PUNCT
cjal-3260	452	17	would	would	AUX
cjal-3260	452	18	offer	offer	VERB
cjal-3260	452	19	the	the	DET
cjal-3260	452	20	poison	poison	NOUN
cjal-3260	452	21	pill	pill	NOUN
cjal-3260	452	22	and	and	CCONJ
cjal-3260	452	23	perhaps	perhaps	ADV
cjal-3260	452	24	other	other	ADJ
cjal-3260	452	25	defensive	defensive	ADJ
cjal-3260	452	26	measures	measure	NOUN
cjal-3260	452	27	to	to	ADP
cjal-3260	452	28	qualifying	qualify	VERB
cjal-3260	452	29	companies	company	NOUN
cjal-3260	452	30	.	.	PUNCT
cjal-3260	453	1	qualification	qualification	NOUN
cjal-3260	453	2	would	would	AUX
cjal-3260	453	3	depend	depend	VERB
cjal-3260	453	4	on	on	ADP
cjal-3260	453	5	achieving	achieve	VERB
cjal-3260	453	6	a	a	DET
cjal-3260	453	7	one	one	NUM
cjal-3260	453	8	-	-	PUNCT
cjal-3260	453	9	share	share	NOUN
cjal-3260	453	10	,	,	PUNCT
cjal-3260	453	11	one	one	NUM
cjal-3260	453	12	-	-	PUNCT
cjal-3260	453	13	vote	vote	NOUN
cjal-3260	453	14	capital	capital	NOUN
cjal-3260	453	15	structure	structure	NOUN
cjal-3260	453	16	.	.	PUNCT
cjal-3260	454	1	effectiveness	effectiveness	NOUN
cjal-3260	454	2	of	of	ADP
cjal-3260	454	3	the	the	DET
cjal-3260	454	4	opt	opt	NOUN
cjal-3260	454	5	-	-	PUNCT
cjal-3260	454	6	in	in	ADP
cjal-3260	454	7	provisions	provision	NOUN
cjal-3260	454	8	at	at	ADP
cjal-3260	454	9	a	a	DET
cjal-3260	454	10	particular	particular	ADJ
cjal-3260	454	11	company	company	NOUN
cjal-3260	454	12	can	can	AUX
cjal-3260	454	13	be	be	AUX
cjal-3260	454	14	planned	plan	VERB
cjal-3260	454	15	to	to	PART
cjal-3260	454	16	occur	occur	VERB
cjal-3260	454	17	,	,	PUNCT
cjal-3260	454	18	with	with	ADP
cjal-3260	454	19	regulatory	regulatory	ADJ
cjal-3260	454	20	pre	pre	NOUN
cjal-3260	454	21	-	-	NOUN
cjal-3260	454	22	clearance	clearance	ADJ
cjal-3260	454	23	,	,	PUNCT
cjal-3260	454	24	simultaneously	simultaneously	ADV
cjal-3260	454	25	with	with	ADP
cjal-3260	454	26	the	the	DET
cjal-3260	454	27	corporate	corporate	ADJ
cjal-3260	454	28	restructuring	restructuring	NOUN
cjal-3260	454	29	.	.	PUNCT
cjal-3260	455	1	given	give	VERB
cjal-3260	455	2	the	the	DET
cjal-3260	455	3	very	very	ADV
cjal-3260	455	4	small	small	ADJ
cjal-3260	455	5	percentage	percentage	NOUN
cjal-3260	455	6	ownership	ownership	NOUN
cjal-3260	455	7	by	by	ADP
cjal-3260	455	8	controllers	controller	NOUN
cjal-3260	455	9	and	and	CCONJ
cjal-3260	455	10	multi	multi	ADJ
cjal-3260	455	11	-	-	ADJ
cjal-3260	455	12	generation	generation	ADJ
cjal-3260	455	13	succession	succession	NOUN
cjal-3260	455	14	issues	issue	NOUN
cjal-3260	455	15	creating	create	VERB
cjal-3260	455	16	controversy	controversy	NOUN
cjal-3260	455	17	for	for	ADP
cjal-3260	455	18	controlling	control	VERB
cjal-3260	455	19	families	family	NOUN
cjal-3260	455	20	'	'	PART
cjal-3260	455	21	succession	succession	NOUN
cjal-3260	455	22	plans	plan	NOUN
cjal-3260	455	23	at	at	ADP
cjal-3260	455	24	cms	cms	NOUN
cjal-3260	455	25	companies	company	NOUN
cjal-3260	455	26	,	,	PUNCT
cjal-3260	455	27	the	the	DET
cjal-3260	455	28	opt	opt	VERB
cjal-3260	455	29	-	-	PUNCT
cjal-3260	455	30	in	in	ADP
cjal-3260	455	31	regime	regime	NOUN
cjal-3260	455	32	offers	offer	VERB
cjal-3260	455	33	some	some	DET
cjal-3260	455	34	benefit	benefit	NOUN
cjal-3260	455	35	at	at	ADP
cjal-3260	455	36	a	a	DET
cjal-3260	455	37	time	time	NOUN
cjal-3260	455	38	of	of	ADP
cjal-3260	455	39	transition	transition	NOUN
cjal-3260	455	40	for	for	ADP
cjal-3260	455	41	many	many	ADJ
cjal-3260	455	42	reasons	reason	NOUN
cjal-3260	455	43	for	for	ADP
cjal-3260	455	44	cms	cms	NOUN
cjal-3260	455	45	structures	structure	NOUN
cjal-3260	455	46	in	in	ADP
cjal-3260	455	47	east	east	PROPN
cjal-3260	455	48	asia	asia	PROPN
cjal-3260	455	49	.	.	PUNCT
cjal-3260	456	1	the	the	DET
cjal-3260	456	2	choice	choice	NOUN
cjal-3260	456	3	of	of	ADP
cjal-3260	456	4	legal	legal	ADJ
cjal-3260	456	5	regime	regime	NOUN
cjal-3260	456	6	for	for	ADP
cjal-3260	456	7	takeovers	takeover	NOUN
cjal-3260	456	8	allows	allow	VERB
cjal-3260	456	9	the	the	DET
cjal-3260	456	10	"	"	PUNCT
cjal-3260	456	11	good	good	ADJ
cjal-3260	456	12	"	"	PUNCT
cjal-3260	456	13	or	or	CCONJ
cjal-3260	456	14	better	well	ADV
cjal-3260	456	15	-	-	PUNCT
cjal-3260	456	16	structured	structure	VERB
cjal-3260	456	17	companies	company	NOUN
cjal-3260	456	18	to	to	PART
cjal-3260	456	19	receive	receive	VERB
cjal-3260	456	20	credit	credit	NOUN
cjal-3260	456	21	in	in	ADP
cjal-3260	456	22	terms	term	NOUN
cjal-3260	456	23	of	of	ADP
cjal-3260	456	24	market	market	NOUN
cjal-3260	456	25	value	value	NOUN
cjal-3260	456	26	.	.	PUNCT
cjal-3260	457	1	companies	company	NOUN
cjal-3260	457	2	opting	opt	VERB
cjal-3260	457	3	in	in	ADP
cjal-3260	457	4	can	can	AUX
cjal-3260	457	5	achieve	achieve	VERB
cjal-3260	457	6	the	the	DET
cjal-3260	457	7	protection	protection	NOUN
cjal-3260	457	8	they	they	PRON
cjal-3260	457	9	have	have	AUX
cjal-3260	457	10	sought	seek	VERB
cjal-3260	457	11	in	in	ADP
cjal-3260	457	12	cms	cms	NOUN
cjal-3260	457	13	structures	structure	NOUN
cjal-3260	457	14	in	in	ADP
cjal-3260	457	15	a	a	DET
cjal-3260	457	16	more	more	ADV
cjal-3260	457	17	transparent	transparent	ADJ
cjal-3260	457	18	system	system	NOUN
cjal-3260	457	19	with	with	ADP
cjal-3260	457	20	clear	clear	ADJ
cjal-3260	457	21	rules	rule	NOUN
cjal-3260	457	22	and	and	CCONJ
cjal-3260	457	23	clear	clear	ADJ
cjal-3260	457	24	ownership	ownership	NOUN
cjal-3260	457	25	.	.	PUNCT
cjal-3260	458	1	precise	precise	ADJ
cjal-3260	458	2	,	,	PUNCT
cjal-3260	458	3	transparent	transparent	ADJ
cjal-3260	458	4	rules	rule	NOUN
cjal-3260	458	5	governing	govern	VERB
cjal-3260	458	6	the	the	DET
cjal-3260	458	7	market	market	NOUN
cjal-3260	458	8	for	for	ADP
cjal-3260	458	9	corporate	corporate	ADJ
cjal-3260	458	10	control	control	NOUN
cjal-3260	458	11	would	would	AUX
cjal-3260	458	12	provide	provide	VERB
cjal-3260	458	13	capital	capital	NOUN
cjal-3260	458	14	markets	market	NOUN
cjal-3260	458	15	players	player	NOUN
cjal-3260	458	16	a	a	DET
cjal-3260	458	17	better	well	ADJ
cjal-3260	458	18	roadmap	roadmap	NOUN
cjal-3260	458	19	to	to	ADP
cjal-3260	458	20	the	the	DET
cjal-3260	458	21	costs	cost	NOUN
cjal-3260	458	22	and	and	CCONJ
cjal-3260	458	23	conditions	condition	NOUN
cjal-3260	458	24	of	of	ADP
cjal-3260	458	25	hostile	hostile	ADJ
cjal-3260	458	26	acquisitions	acquisition	NOUN
cjal-3260	458	27	,	,	PUNCT
cjal-3260	458	28	potentially	potentially	ADV
cjal-3260	458	29	eliminating	eliminate	VERB
cjal-3260	458	30	some	some	DET
cjal-3260	458	31	inefficient	inefficient	ADJ
cjal-3260	458	32	acquisition	acquisition	NOUN
cjal-3260	458	33	efforts	effort	NOUN
cjal-3260	458	34	and	and	CCONJ
cjal-3260	458	35	the	the	DET
cjal-3260	458	36	accompanying	accompanying	ADJ
cjal-3260	458	37	drain	drain	NOUN
cjal-3260	458	38	on	on	ADP
cjal-3260	458	39	management	management	NOUN
cjal-3260	458	40	resources	resource	NOUN
cjal-3260	458	41	.	.	PUNCT
cjal-3260	459	1	if	if	SCONJ
cjal-3260	459	2	companies	company	NOUN
cjal-3260	459	3	opt	opt	VERB
cjal-3260	459	4	in	in	ADP
cjal-3260	459	5	in	in	ADP
cjal-3260	459	6	significant	significant	ADJ
cjal-3260	459	7	numbers	number	NOUN
cjal-3260	459	8	,	,	PUNCT
cjal-3260	459	9	the	the	DET
cjal-3260	459	10	new	new	ADJ
cjal-3260	459	11	regime	regime	NOUN
cjal-3260	459	12	may	may	AUX
cjal-3260	459	13	result	result	VERB
cjal-3260	459	14	in	in	ADP
cjal-3260	459	15	a	a	DET
cjal-3260	459	16	net	net	ADJ
cjal-3260	459	17	social	social	ADJ
cjal-3260	459	18	benefit	benefit	NOUN
cjal-3260	459	19	in	in	ADP
cjal-3260	459	20	the	the	DET
cjal-3260	459	21	form	form	NOUN
cjal-3260	459	22	of	of	ADP
cjal-3260	459	23	reducing	reduce	VERB
cjal-3260	459	24	the	the	DET
cjal-3260	459	25	opportunity	opportunity	NOUN
cjal-3260	459	26	for	for	ADP
cjal-3260	459	27	bad	bad	ADJ
cjal-3260	459	28	-	-	PUNCT
cjal-3260	459	29	private	private	ADJ
cjal-3260	459	30	-	-	PUNCT
cjal-3260	459	31	benefits	benefit	NOUN
cjal-3260	459	32	extraction	extraction	NOUN
cjal-3260	459	33	at	at	ADP
cjal-3260	459	34	the	the	DET
cjal-3260	459	35	formerly	formerly	ADV
cjal-3260	459	36	minority	minority	NOUN
cjal-3260	459	37	-	-	PUNCT
cjal-3260	459	38	controlled	control	VERB
cjal-3260	459	39	companies	company	NOUN
cjal-3260	459	40	.	.	PUNCT
cjal-3260	460	1	[	[	X
cjal-3260	460	2	20:2	20:2	NUM
cjal-3260	460	3	national	national	ADJ
cjal-3260	460	4	markets	market	NOUN
cjal-3260	460	5	,	,	PUNCT
cjal-3260	460	6	new	new	ADJ
cjal-3260	460	7	defenses	defense	NOUN
cjal-3260	460	8	careful	careful	ADJ
cjal-3260	460	9	consideration	consideration	NOUN
cjal-3260	460	10	and	and	CCONJ
cjal-3260	460	11	further	further	ADJ
cjal-3260	460	12	research	research	NOUN
cjal-3260	460	13	is	be	AUX
cjal-3260	460	14	needed	need	VERB
cjal-3260	460	15	to	to	PART
cjal-3260	460	16	define	define	VERB
cjal-3260	460	17	the	the	DET
cjal-3260	460	18	qualifications	qualification	NOUN
cjal-3260	460	19	for	for	ADP
cjal-3260	460	20	the	the	DET
cjal-3260	460	21	opt	opt	NOUN
cjal-3260	460	22	-	-	PUNCT
cjal-3260	460	23	in	in	ADP
cjal-3260	460	24	regime	regime	NOUN
cjal-3260	460	25	.	.	PUNCT
cjal-3260	461	1	the	the	DET
cjal-3260	461	2	eu	eu	PROPN
cjal-3260	461	3	takeover	takeover	NOUN
cjal-3260	461	4	bid	bid	NOUN
cjal-3260	461	5	report	report	NOUN
cjal-3260	461	6	correctly	correctly	ADV
cjal-3260	461	7	acknowledges	acknowledge	VERB
cjal-3260	461	8	the	the	DET
cjal-3260	461	9	practical	practical	ADJ
cjal-3260	461	10	difficulty	difficulty	NOUN
cjal-3260	461	11	in	in	ADP
cjal-3260	461	12	defining	define	VERB
cjal-3260	461	13	and	and	CCONJ
cjal-3260	461	14	collapsing	collapse	VERB
cjal-3260	461	15	complex	complex	ADJ
cjal-3260	461	16	shareholdings	shareholding	NOUN
cjal-3260	461	17	into	into	ADP
cjal-3260	461	18	a	a	DET
cjal-3260	461	19	structure	structure	NOUN
cjal-3260	461	20	where	where	SCONJ
cjal-3260	461	21	effective	effective	ADJ
cjal-3260	461	22	control	control	NOUN
cjal-3260	461	23	is	be	AUX
cjal-3260	461	24	proportionate	proportionate	ADJ
cjal-3260	461	25	to	to	ADP
cjal-3260	461	26	cash	cash	NOUN
cjal-3260	461	27	flow	flow	NOUN
cjal-3260	461	28	rights	right	NOUN
cjal-3260	461	29	.	.	PUNCT
cjal-3260	462	1	however	however	ADV
cjal-3260	462	2	,	,	PUNCT
cjal-3260	462	3	there	there	PRON
cjal-3260	462	4	is	be	VERB
cjal-3260	462	5	evidence	evidence	NOUN
cjal-3260	462	6	that	that	SCONJ
cjal-3260	462	7	at	at	ADV
cjal-3260	462	8	least	least	ADV
cjal-3260	462	9	two	two	NUM
cjal-3260	462	10	identifiable	identifiable	ADJ
cjal-3260	462	11	groups	group	NOUN
cjal-3260	462	12	are	be	AUX
cjal-3260	462	13	able	able	ADJ
cjal-3260	462	14	to	to	PART
cjal-3260	462	15	sort	sort	VERB
cjal-3260	462	16	out	out	ADP
cjal-3260	462	17	the	the	DET
cjal-3260	462	18	control	control	NOUN
cjal-3260	462	19	consequences	consequence	NOUN
cjal-3260	462	20	of	of	ADP
cjal-3260	462	21	the	the	DET
cjal-3260	462	22	current	current	ADJ
cjal-3260	462	23	cms	cms	NOUN
cjal-3260	462	24	structures	structure	NOUN
cjal-3260	462	25	:	:	PUNCT
cjal-3260	462	26	the	the	DET
cjal-3260	462	27	controllers	controller	NOUN
cjal-3260	462	28	and	and	CCONJ
cjal-3260	462	29	the	the	DET
cjal-3260	462	30	competition	competition	NOUN
cjal-3260	462	31	(	(	PUNCT
cjal-3260	462	32	antitrust	antitrust	ADJ
cjal-3260	462	33	)	)	PUNCT
cjal-3260	462	34	regulators	regulator	NOUN
cjal-3260	462	35	.	.	PUNCT
cjal-3260	463	1	a	a	DET
cjal-3260	463	2	government	government	NOUN
cjal-3260	463	3	agency	agency	NOUN
cjal-3260	463	4	of	of	ADP
cjal-3260	463	5	experts	expert	NOUN
cjal-3260	463	6	may	may	AUX
cjal-3260	463	7	be	be	AUX
cjal-3260	463	8	needed	need	VERB
cjal-3260	463	9	to	to	PART
cjal-3260	463	10	evaluate	evaluate	VERB
cjal-3260	463	11	the	the	DET
cjal-3260	463	12	applications	application	NOUN
cjal-3260	463	13	of	of	ADP
cjal-3260	463	14	companies	company	NOUN
cjal-3260	463	15	for	for	ADP
cjal-3260	463	16	their	their	PRON
cjal-3260	463	17	eligibility	eligibility	NOUN
cjal-3260	463	18	.	.	PUNCT
cjal-3260	464	1	this	this	DET
cjal-3260	464	2	agency	agency	NOUN
cjal-3260	464	3	could	could	AUX
cjal-3260	464	4	have	have	VERB
cjal-3260	464	5	a	a	DET
cjal-3260	464	6	broader	broad	ADJ
cjal-3260	464	7	mandate	mandate	NOUN
cjal-3260	464	8	,	,	PUNCT
cjal-3260	464	9	somewhat	somewhat	ADV
cjal-3260	464	10	like	like	ADP
cjal-3260	464	11	the	the	DET
cjal-3260	464	12	uk	uk	PROPN
cjal-3260	464	13	's	's	PART
cjal-3260	464	14	takeover	takeover	NOUN
cjal-3260	464	15	panel	panel	NOUN
cjal-3260	464	16	,	,	PUNCT
cjal-3260	464	17	acting	act	VERB
cjal-3260	464	18	as	as	ADP
cjal-3260	464	19	a	a	DET
cjal-3260	464	20	specialist	specialist	ADJ
cjal-3260	464	21	regulator	regulator	NOUN
cjal-3260	464	22	for	for	ADP
cjal-3260	464	23	the	the	DET
cjal-3260	464	24	new	new	ADJ
cjal-3260	464	25	opt	opt	VERB
cjal-3260	464	26	-	-	PUNCT
cjal-3260	464	27	in	in	ADP
cjal-3260	464	28	code	code	NOUN
cjal-3260	464	29	.	.	PUNCT
cjal-3260	465	1	a	a	DET
cjal-3260	465	2	regulatory	regulatory	ADJ
cjal-3260	465	3	gatekeeper	gatekeeper	NOUN
cjal-3260	465	4	would	would	AUX
cjal-3260	465	5	determine	determine	VERB
cjal-3260	465	6	eligibility	eligibility	NOUN
cjal-3260	465	7	for	for	ADP
cjal-3260	465	8	the	the	DET
cjal-3260	465	9	enhanced	enhance	VERB
cjal-3260	465	10	protection	protection	NOUN
cjal-3260	465	11	corporate	corporate	ADJ
cjal-3260	465	12	law	law	NOUN
cjal-3260	465	13	regime	regime	NOUN
cjal-3260	465	14	(	(	PUNCT
cjal-3260	465	15	pre	pre	ADJ
cjal-3260	465	16	-	-	ADJ
cjal-3260	465	17	bid	bid	ADJ
cjal-3260	465	18	)	)	PUNCT
cjal-3260	465	19	,	,	PUNCT
cjal-3260	465	20	not	not	PART
cjal-3260	465	21	the	the	DET
cjal-3260	465	22	outcome	outcome	NOUN
cjal-3260	465	23	of	of	ADP
cjal-3260	465	24	any	any	DET
cjal-3260	465	25	particular	particular	ADJ
cjal-3260	465	26	contest	contest	NOUN
cjal-3260	465	27	for	for	ADP
cjal-3260	465	28	corporate	corporate	ADJ
cjal-3260	465	29	control	control	NOUN
cjal-3260	465	30	(	(	PUNCT
cjal-3260	465	31	post	post	ADJ
cjal-3260	465	32	-	-	ADJ
cjal-3260	465	33	bid	bid	ADJ
cjal-3260	465	34	)	)	PUNCT
cjal-3260	465	35	.	.	PUNCT
cjal-3260	466	1	the	the	DET
cjal-3260	466	2	regulatory	regulatory	ADJ
cjal-3260	466	3	function	function	NOUN
cjal-3260	466	4	should	should	AUX
cjal-3260	466	5	not	not	PART
cjal-3260	466	6	operate	operate	VERB
cjal-3260	466	7	as	as	ADP
cjal-3260	466	8	a	a	DET
cjal-3260	466	9	veto	veto	NOUN
cjal-3260	466	10	or	or	CCONJ
cjal-3260	466	11	other	other	ADJ
cjal-3260	466	12	politically	politically	ADV
cjal-3260	466	13	controlled	control	VERB
cjal-3260	466	14	state	state	NOUN
cjal-3260	466	15	right	right	NOUN
cjal-3260	466	16	(	(	PUNCT
cjal-3260	466	17	such	such	ADJ
cjal-3260	466	18	as	as	ADP
cjal-3260	466	19	a	a	DET
cjal-3260	466	20	"	"	PUNCT
cjal-3260	466	21	golden	golden	ADJ
cjal-3260	466	22	share	share	NOUN
cjal-3260	466	23	"	"	PUNCT
cjal-3260	466	24	)	)	PUNCT
cjal-3260	466	25	.	.	PUNCT
cjal-3260	467	1	rather	rather	ADV
cjal-3260	467	2	,	,	PUNCT
cjal-3260	467	3	a	a	DET
cjal-3260	467	4	specialist	specialist	ADJ
cjal-3260	467	5	regulator	regulator	NOUN
cjal-3260	467	6	would	would	AUX
cjal-3260	467	7	be	be	AUX
cjal-3260	467	8	the	the	DET
cjal-3260	467	9	judge	judge	NOUN
cjal-3260	467	10	of	of	ADP
cjal-3260	467	11	whether	whether	SCONJ
cjal-3260	467	12	a	a	DET
cjal-3260	467	13	one	one	NUM
cjal-3260	467	14	-	-	PUNCT
cjal-3260	467	15	share	share	NOUN
cjal-3260	467	16	,	,	PUNCT
cjal-3260	467	17	one	one	NUM
cjal-3260	467	18	-	-	PUNCT
cjal-3260	467	19	vote	vote	NOUN
cjal-3260	467	20	capital	capital	NOUN
cjal-3260	467	21	structure	structure	NOUN
cjal-3260	467	22	is	be	AUX
cjal-3260	467	23	achieved	achieve	VERB
cjal-3260	467	24	prior	prior	ADV
cjal-3260	467	25	to	to	ADP
cjal-3260	467	26	adoption	adoption	NOUN
cjal-3260	467	27	of	of	ADP
cjal-3260	467	28	a	a	DET
cjal-3260	467	29	poison	poison	NOUN
cjal-3260	467	30	pill	pill	NOUN
cjal-3260	467	31	.	.	PUNCT
cjal-3260	468	1	the	the	DET
cjal-3260	468	2	regulator	regulator	NOUN
cjal-3260	468	3	's	's	PART
cjal-3260	468	4	mission	mission	NOUN
cjal-3260	468	5	would	would	AUX
cjal-3260	468	6	be	be	AUX
cjal-3260	468	7	to	to	PART
cjal-3260	468	8	guarantee	guarantee	VERB
cjal-3260	468	9	investor	investor	NOUN
cjal-3260	468	10	protection	protection	NOUN
cjal-3260	468	11	and	and	CCONJ
cjal-3260	468	12	market	market	NOUN
cjal-3260	468	13	fairness	fairness	NOUN
cjal-3260	468	14	.	.	PUNCT
cjal-3260	469	1	additional	additional	ADJ
cjal-3260	469	2	research	research	NOUN
cjal-3260	469	3	is	be	AUX
cjal-3260	469	4	needed	need	VERB
cjal-3260	469	5	to	to	PART
cjal-3260	469	6	support	support	VERB
cjal-3260	469	7	the	the	DET
cjal-3260	469	8	proposition	proposition	NOUN
cjal-3260	469	9	that	that	SCONJ
cjal-3260	469	10	the	the	DET
cjal-3260	469	11	market	market	NOUN
cjal-3260	469	12	would	would	AUX
cjal-3260	469	13	recognize	recognize	VERB
cjal-3260	469	14	and	and	CCONJ
cjal-3260	469	15	value	value	VERB
cjal-3260	469	16	opting	opt	VERB
cjal-3260	469	17	in	in	ADP
cjal-3260	469	18	companies	company	NOUN
cjal-3260	469	19	at	at	ADP
cjal-3260	469	20	a	a	DET
cjal-3260	469	21	premium	premium	NOUN
cjal-3260	469	22	to	to	ADP
cjal-3260	469	23	their	their	PRON
cjal-3260	469	24	current	current	ADJ
cjal-3260	469	25	value	value	NOUN
cjal-3260	469	26	in	in	ADP
cjal-3260	469	27	cms	cms	NOUN
cjal-3260	469	28	form	form	NOUN
cjal-3260	469	29	.	.	PUNCT
cjal-3260	470	1	and	and	CCONJ
cjal-3260	470	2	how	how	SCONJ
cjal-3260	470	3	would	would	AUX
cjal-3260	470	4	capital	capital	NOUN
cjal-3260	470	5	markets	market	NOUN
cjal-3260	470	6	judge	judge	NOUN
cjal-3260	470	7	firms	firm	NOUN
cjal-3260	470	8	that	that	PRON
cjal-3260	470	9	opt	opt	VERB
cjal-3260	470	10	out	out	ADP
cjal-3260	470	11	?	?	PUNCT
cjal-3260	471	1	the	the	DET
cjal-3260	471	2	incentives	incentive	NOUN
cjal-3260	471	3	for	for	ADP
cjal-3260	471	4	controllers	controller	NOUN
cjal-3260	471	5	must	must	AUX
cjal-3260	471	6	be	be	AUX
cjal-3260	471	7	evaluated	evaluate	VERB
cjal-3260	471	8	,	,	PUNCT
cjal-3260	471	9	as	as	SCONJ
cjal-3260	471	10	they	they	PRON
cjal-3260	471	11	currently	currently	ADV
cjal-3260	471	12	control	control	VERB
cjal-3260	471	13	the	the	DET
cjal-3260	471	14	relevant	relevant	ADJ
cjal-3260	471	15	firms	firm	NOUN
cjal-3260	471	16	would	would	AUX
cjal-3260	471	17	the	the	DET
cjal-3260	471	18	enhanced	enhance	VERB
cjal-3260	471	19	defenses	defense	NOUN
cjal-3260	471	20	adequately	adequately	ADV
cjal-3260	471	21	compensate	compensate	VERB
cjal-3260	471	22	them	they	PRON
cjal-3260	471	23	for	for	ADP
cjal-3260	471	24	the	the	DET
cjal-3260	471	25	private	private	ADJ
cjal-3260	471	26	benefits	benefit	NOUN
cjal-3260	471	27	they	they	PRON
cjal-3260	471	28	would	would	AUX
cjal-3260	471	29	surrender	surrender	VERB
cjal-3260	471	30	upon	upon	SCONJ
cjal-3260	471	31	the	the	DET
cjal-3260	471	32	capital	capital	NOUN
cjal-3260	471	33	restructuring	restructuring	NOUN
cjal-3260	471	34	?	?	PUNCT
cjal-3260	472	1	there	there	PRON
cjal-3260	472	2	are	be	VERB
cjal-3260	472	3	significant	significant	ADJ
cjal-3260	472	4	costs	cost	NOUN
cjal-3260	472	5	the	the	DET
cjal-3260	472	6	effect	effect	NOUN
cjal-3260	472	7	of	of	ADP
cjal-3260	472	8	unwinding	unwind	VERB
cjal-3260	472	9	cms	cms	NOUN
cjal-3260	472	10	structures	structure	NOUN
cjal-3260	472	11	could	could	AUX
cjal-3260	472	12	impact	impact	VERB
cjal-3260	472	13	inter	inter	ADJ
cjal-3260	472	14	-	-	ADJ
cjal-3260	472	15	company	company	ADJ
cjal-3260	472	16	commercial	commercial	ADJ
cjal-3260	472	17	relations	relation	NOUN
cjal-3260	472	18	and	and	CCONJ
cjal-3260	472	19	management	management	NOUN
cjal-3260	472	20	reporting	reporting	NOUN
cjal-3260	472	21	relationships	relationship	NOUN
cjal-3260	472	22	.	.	PUNCT
cjal-3260	473	1	the	the	DET
cjal-3260	473	2	mechanical	mechanical	ADJ
cjal-3260	473	3	steps	step	NOUN
cjal-3260	473	4	to	to	PART
cjal-3260	473	5	restructure	restructure	VERB
cjal-3260	473	6	under	under	ADP
cjal-3260	473	7	the	the	DET
cjal-3260	473	8	domestic	domestic	ADJ
cjal-3260	473	9	corporate	corporate	ADJ
cjal-3260	473	10	and	and	CCONJ
cjal-3260	473	11	securities	security	NOUN
cjal-3260	473	12	laws	law	NOUN
cjal-3260	473	13	,	,	PUNCT
cjal-3260	473	14	accounting	accounting	NOUN
cjal-3260	473	15	treatment	treatment	NOUN
cjal-3260	473	16	and	and	CCONJ
cjal-3260	473	17	taxable	taxable	ADJ
cjal-3260	473	18	gain	gain	NOUN
cjal-3260	473	19	realization	realization	NOUN
cjal-3260	473	20	all	all	PRON
cjal-3260	473	21	are	be	AUX
cjal-3260	473	22	practical	practical	ADJ
cjal-3260	473	23	concerns	concern	NOUN
cjal-3260	473	24	that	that	PRON
cjal-3260	473	25	require	require	VERB
cjal-3260	473	26	feasibility	feasibility	NOUN
cjal-3260	473	27	research	research	NOUN
cjal-3260	473	28	,	,	PUNCT
cjal-3260	473	29	planning	planning	NOUN
cjal-3260	473	30	,	,	PUNCT
cjal-3260	473	31	financial	financial	ADJ
cjal-3260	473	32	commitment	commitment	NOUN
cjal-3260	473	33	,	,	PUNCT
cjal-3260	473	34	shareholder	shareholder	NOUN
cjal-3260	473	35	support	support	NOUN
cjal-3260	473	36	and	and	CCONJ
cjal-3260	473	37	regulatory	regulatory	ADJ
cjal-3260	473	38	approval	approval	NOUN
cjal-3260	473	39	in	in	ADP
cjal-3260	473	40	some	some	DET
cjal-3260	473	41	cases	case	NOUN
cjal-3260	473	42	.	.	PUNCT
cjal-3260	474	1	a	a	DET
cjal-3260	474	2	costbenefit	costbenefit	NOUN
cjal-3260	474	3	analysis	analysis	NOUN
cjal-3260	474	4	is	be	AUX
cjal-3260	474	5	clearly	clearly	ADV
cjal-3260	474	6	in	in	ADP
cjal-3260	474	7	order	order	NOUN
cjal-3260	474	8	at	at	ADP
cjal-3260	474	9	any	any	DET
cjal-3260	474	10	particular	particular	ADJ
cjal-3260	474	11	company	company	NOUN
cjal-3260	474	12	or	or	CCONJ
cjal-3260	474	13	group	group	NOUN
cjal-3260	474	14	if	if	SCONJ
cjal-3260	474	15	an	an	DET
cjal-3260	474	16	opt	opt	VERB
cjal-3260	474	17	-	-	PUNCT
cjal-3260	474	18	in	in	ADP
cjal-3260	474	19	enhanced	enhanced	ADJ
cjal-3260	474	20	protection	protection	NOUN
cjal-3260	474	21	corporate	corporate	ADJ
cjal-3260	474	22	law	law	NOUN
cjal-3260	474	23	were	be	AUX
cjal-3260	474	24	to	to	PART
cjal-3260	474	25	become	become	VERB
cjal-3260	474	26	available	available	ADJ
cjal-3260	474	27	in	in	ADP
cjal-3260	474	28	its	its	PRON
cjal-3260	474	29	jurisdiction	jurisdiction	NOUN
cjal-3260	474	30	.	.	PUNCT
cjal-3260	475	1	finally	finally	ADV
cjal-3260	475	2	,	,	PUNCT
cjal-3260	475	3	specific	specific	ADJ
cjal-3260	475	4	rules	rule	NOUN
cjal-3260	475	5	in	in	ADP
cjal-3260	475	6	the	the	DET
cjal-3260	475	7	opt	opt	VERB
cjal-3260	475	8	-	-	PUNCT
cjal-3260	475	9	in	in	ADP
cjal-3260	475	10	regime	regime	NOUN
cjal-3260	475	11	must	must	AUX
cjal-3260	475	12	be	be	AUX
cjal-3260	475	13	tailored	tailor	VERB
cjal-3260	475	14	to	to	ADP
cjal-3260	475	15	the	the	DET
cjal-3260	475	16	legal	legal	ADJ
cjal-3260	475	17	and	and	CCONJ
cjal-3260	475	18	financial	financial	ADJ
cjal-3260	475	19	infrastructure	infrastructure	NOUN
cjal-3260	475	20	.	.	PUNCT
cjal-3260	476	1	the	the	DET
cjal-3260	476	2	risk	risk	NOUN
cjal-3260	476	3	of	of	ADP
cjal-3260	476	4	transplant	transplant	NOUN
cjal-3260	476	5	failure	failure	NOUN
cjal-3260	476	6	seems	seem	VERB
cjal-3260	476	7	particularly	particularly	ADV
cjal-3260	476	8	high	high	ADJ
cjal-3260	476	9	for	for	ADP
cjal-3260	476	10	anti	anti	ADJ
cjal-3260	476	11	-	-	ADJ
cjal-3260	476	12	takeover	takeover	ADJ
cjal-3260	476	13	measures	measure	NOUN
cjal-3260	476	14	,	,	PUNCT
cjal-3260	476	15	given	give	VERB
cjal-3260	476	16	the	the	DET
cjal-3260	476	17	quite	quite	ADV
cjal-3260	476	18	different	different	ADJ
cjal-3260	476	19	legal	legal	ADJ
cjal-3260	476	20	and	and	CCONJ
cjal-3260	476	21	financial	financial	ADJ
cjal-3260	476	22	infrastructure	infrastructure	NOUN
cjal-3260	476	23	in	in	ADP
cjal-3260	476	24	the	the	DET
cjal-3260	476	25	destination	destination	NOUN
cjal-3260	476	26	markets	market	NOUN
cjal-3260	476	27	from	from	ADP
cjal-3260	476	28	the	the	DET
cjal-3260	476	29	native	native	ADJ
cjal-3260	476	30	ones	one	NOUN
cjal-3260	476	31	.	.	PUNCT
cjal-3260	477	1	the	the	DET
cjal-3260	477	2	consequences	consequence	NOUN
cjal-3260	477	3	of	of	ADP
cjal-3260	477	4	getting	get	VERB
cjal-3260	477	5	it	it	PRON
cjal-3260	477	6	wrong	wrong	ADJ
cjal-3260	477	7	are	be	AUX
cjal-3260	477	8	rather	rather	ADV
cjal-3260	477	9	grave	grave	ADJ
cjal-3260	477	10	in	in	ADP
cjal-3260	477	11	terms	term	NOUN
cjal-3260	477	12	of	of	ADP
cjal-3260	477	13	lost	lost	ADJ
cjal-3260	477	14	benefit	benefit	NOUN
cjal-3260	477	15	from	from	ADP
cjal-3260	477	16	the	the	DET
cjal-3260	477	17	market	market	NOUN
cjal-3260	477	18	for	for	ADP
cjal-3260	477	19	corporate	corporate	ADJ
cjal-3260	477	20	control	control	NOUN
cjal-3260	477	21	(	(	PUNCT
cjal-3260	477	22	opportunity	opportunity	NOUN
cjal-3260	477	23	cost	cost	NOUN
cjal-3260	477	24	)	)	PUNCT
cjal-3260	477	25	and	and	CCONJ
cjal-3260	477	26	the	the	DET
cjal-3260	477	27	perverse	perverse	NOUN
cjal-3260	477	28	incentives	incentive	VERB
cjal-3260	477	29	takeover	takeover	NOUN
cjal-3260	477	30	protections	protection	NOUN
cjal-3260	477	31	can	can	AUX
cjal-3260	477	32	create	create	VERB
cjal-3260	477	33	2007	2007	NUM
cjal-3260	477	34	]	]	PUNCT
cjal-3260	477	35	414	414	NUM
cjal-3260	477	36	columbia	columbia	PROPN
cjal-3260	477	37	journal	journal	PROPN
cjal-3260	477	38	of	of	ADP
cjal-3260	477	39	asian	asian	ADJ
cjal-3260	477	40	law	law	NOUN
cjal-3260	478	1	[	[	X
cjal-3260	478	2	20:2	20:2	NUM
cjal-3260	478	3	(	(	PUNCT
cjal-3260	478	4	increasing	increase	VERB
cjal-3260	478	5	agency	agency	NOUN
cjal-3260	478	6	costs	cost	NOUN
cjal-3260	478	7	)	)	PUNCT
cjal-3260	478	8	.	.	PUNCT
cjal-3260	479	1	this	this	DET
cjal-3260	479	2	exercise	exercise	NOUN
cjal-3260	479	3	in	in	ADP
cjal-3260	479	4	comparative	comparative	ADJ
cjal-3260	479	5	law	law	NOUN
cjal-3260	479	6	therefore	therefore	ADV
cjal-3260	479	7	focused	focus	VERB
cjal-3260	479	8	on	on	ADP
cjal-3260	479	9	identifying	identify	VERB
cjal-3260	479	10	aspects	aspect	NOUN
cjal-3260	479	11	of	of	ADP
cjal-3260	479	12	takeover	takeover	NOUN
cjal-3260	479	13	policy	policy	NOUN
cjal-3260	479	14	that	that	PRON
cjal-3260	479	15	have	have	VERB
cjal-3260	479	16	a	a	DET
cjal-3260	479	17	high	high	ADJ
cjal-3260	479	18	likelihood	likelihood	NOUN
cjal-3260	479	19	of	of	ADP
cjal-3260	479	20	transplant	transplant	NOUN
cjal-3260	479	21	success	success	NOUN
cjal-3260	479	22	.	.	PUNCT
cjal-3260	480	1	if	if	SCONJ
cjal-3260	480	2	chosen	choose	VERB
cjal-3260	480	3	wisely	wisely	ADV
cjal-3260	480	4	,	,	PUNCT
cjal-3260	480	5	foreign	foreign	ADJ
cjal-3260	480	6	-	-	PUNCT
cjal-3260	480	7	bred	breed	VERB
cjal-3260	480	8	antitakeover	antitakeover	ADJ
cjal-3260	480	9	devices	device	NOUN
cjal-3260	480	10	may	may	AUX
cjal-3260	480	11	be	be	AUX
cjal-3260	480	12	just	just	ADV
cjal-3260	480	13	the	the	DET
cjal-3260	480	14	right	right	ADJ
cjal-3260	480	15	match	match	NOUN
cjal-3260	480	16	for	for	ADP
cjal-3260	480	17	the	the	DET
cjal-3260	480	18	offensive	offensive	ADJ
cjal-3260	480	19	maneuvers	maneuver	NOUN
cjal-3260	480	20	employed	employ	VERB
cjal-3260	480	21	by	by	ADP
cjal-3260	480	22	foreign	foreign	ADJ
cjal-3260	480	23	-	-	PUNCT
cjal-3260	480	24	bred	breed	VERB
cjal-3260	480	25	investors	investor	NOUN
cjal-3260	480	26	.	.	PUNCT