id	sid	tid	token	lemma	pos
cjfa-10416	1	1	copernican	copernican	PROPN
cjfa-10416	1	2	journal	journal	PROPN
cjfa-10416	1	3	of	of	ADP
cjfa-10416	1	4	finance	finance	PROPN
cjfa-10416	1	5	&	&	CCONJ
cjfa-10416	1	6	accounting	accounting	PROPN
cjfa-10416	1	7	e	e	PROPN
cjfa-10416	1	8	-	-	PROPN
cjfa-10416	1	9	issn	issn	PROPN
cjfa-10416	1	10	2300	2300	NUM
cjfa-10416	1	11	-	-	SYM
cjfa-10416	1	12	3065	3065	NUM
cjfa-10416	1	13	p	p	PROPN
cjfa-10416	1	14	-	-	PUNCT
cjfa-10416	1	15	issn	issn	PROPN
cjfa-10416	1	16	2300	2300	NUM
cjfa-10416	1	17	-	-	SYM
cjfa-10416	1	18	12402016	12402016	NUM
cjfa-10416	1	19	,	,	PUNCT
cjfa-10416	1	20	volume	volume	NOUN
cjfa-10416	1	21	5	5	NUM
cjfa-10416	1	22	,	,	PUNCT
cjfa-10416	1	23	issue	issue	NOUN
cjfa-10416	1	24	1	1	NUM
cjfa-10416	1	25	date	date	NOUN
cjfa-10416	1	26	of	of	ADP
cjfa-10416	1	27	submission	submission	NOUN
cjfa-10416	1	28	:	:	PUNCT
cjfa-10416	1	29	april	april	PROPN
cjfa-10416	1	30	22	22	NUM
cjfa-10416	1	31	,	,	PUNCT
cjfa-10416	1	32	2016	2016	NUM
cjfa-10416	1	33	;	;	PUNCT
cjfa-10416	1	34	date	date	NOUN
cjfa-10416	1	35	of	of	ADP
cjfa-10416	1	36	acceptance	acceptance	NOUN
cjfa-10416	1	37	:	:	PUNCT
cjfa-10416	1	38	may	may	AUX
cjfa-10416	1	39	17	17	NUM
cjfa-10416	1	40	,	,	PUNCT
cjfa-10416	1	41	2016	2016	NUM
cjfa-10416	1	42	.	.	PUNCT
cjfa-10416	2	1	*	*	PUNCT
cjfa-10416	2	2	contact	contact	NOUN
cjfa-10416	2	3	information	information	NOUN
cjfa-10416	2	4	:	:	PUNCT
cjfa-10416	2	5	joaobraga_1991@hotmail.com	joaobraga_1991@hotmail.com	X
cjfa-10416	2	6	,	,	PUNCT
cjfa-10416	2	7	rua	rua	PROPN
cjfa-10416	2	8	nova	nova	PROPN
cjfa-10416	2	9	do	do	AUX
cjfa-10416	2	10	regado	regado	VERB
cjfa-10416	2	11	218	218	NUM
cjfa-10416	2	12	,	,	PUNCT
cjfa-10416	2	13	1ºesq	1ºesq	NUM
cjfa-10416	2	14	,	,	PUNCT
cjfa-10416	2	15	4250	4250	NUM
cjfa-10416	2	16	-	-	SYM
cjfa-10416	2	17	335	335	NUM
cjfa-10416	2	18	–	–	PUNCT
cjfa-10416	2	19	porto	porto	PROPN
cjfa-10416	2	20	,	,	PUNCT
cjfa-10416	2	21	portugal	portugal	PROPN
cjfa-10416	2	22	,	,	PUNCT
cjfa-10416	2	23	phone	phone	NOUN
cjfa-10416	2	24	:	:	PUNCT
cjfa-10416	2	25	+351913031128	+351913031128	ADJ
cjfa-10416	2	26	.	.	PUNCT
cjfa-10416	3	1	*	*	PUNCT
cjfa-10416	3	2	*	*	PUNCT
cjfa-10416	3	3	contact	contact	NOUN
cjfa-10416	3	4	information	information	NOUN
cjfa-10416	3	5	:	:	PUNCT
cjfa-10416	3	6	pgomes@iscap.ipp.pt	pgomes@iscap.ipp.pt	NOUN
cjfa-10416	3	7	,	,	PUNCT
cjfa-10416	3	8	polytechnic	polytechnic	ADJ
cjfa-10416	3	9	of	of	ADP
cjfa-10416	3	10	porto	porto	PROPN
cjfa-10416	3	11	,	,	PUNCT
cjfa-10416	3	12	portugal	portugal	PROPN
cjfa-10416	3	13	|	|	ADV
cjfa-10416	3	14	school	school	NOUN
cjfa-10416	3	15	of	of	ADP
cjfa-10416	3	16	accounting	accounting	NOUN
cjfa-10416	3	17	and	and	CCONJ
cjfa-10416	3	18	administration	administration	NOUN
cjfa-10416	3	19	of	of	ADP
cjfa-10416	3	20	porto	porto	PROPN
cjfa-10416	3	21	,	,	PUNCT
cjfa-10416	3	22	cecej	cecej	NOUN
cjfa-10416	3	23	–	–	PUNCT
cjfa-10416	3	24	centro	centro	X
cjfa-10416	3	25	de	de	X
cjfa-10416	3	26	estudos	estudos	PROPN
cjfa-10416	3	27	em	em	PROPN
cjfa-10416	3	28	ciências	ciências	PROPN
cjfa-10416	3	29	empresariais	empresariais	PROPN
cjfa-10416	3	30	e	e	PROPN
cjfa-10416	3	31	jurídicas	jurídicas	PROPN
cjfa-10416	3	32	,	,	PUNCT
cjfa-10416	3	33	portugal	portugal	PROPN
cjfa-10416	3	34	,	,	PUNCT
cjfa-10416	3	35	rua	rua	PROPN
cjfa-10416	3	36	jaime	jaime	PROPN
cjfa-10416	3	37	lopes	lopes	PROPN
cjfa-10416	3	38	amorim	amorim	PROPN
cjfa-10416	3	39	,	,	PUNCT
cjfa-10416	3	40	s	s	PROPN
cjfa-10416	3	41	/	/	SYM
cjfa-10416	3	42	n	n	CCONJ
cjfa-10416	3	43	,	,	PUNCT
cjfa-10416	3	44	4465	4465	NUM
cjfa-10416	3	45	-	-	PUNCT
cjfa-10416	3	46	004	004	NUM
cjfa-10416	3	47	s.	s.	PROPN
cjfa-10416	3	48	mamede	mamede	PROPN
cjfa-10416	3	49	de	de	X
cjfa-10416	3	50	infesta	infesta	NOUN
cjfa-10416	3	51	–	–	PUNCT
cjfa-10416	3	52	portugal	portugal	PROPN
cjfa-10416	3	53	,	,	PUNCT
cjfa-10416	3	54	phone	phone	NOUN
cjfa-10416	3	55	:	:	PUNCT
cjfa-10416	3	56	+351914048638	+351914048638	ADJ
cjfa-10416	3	57	.	.	PUNCT
cjfa-10416	4	1	braga	braga	PROPN
cjfa-10416	4	2	j.	j.	PROPN
cjfa-10416	4	3	p.	p.	PROPN
cjfa-10416	4	4	,	,	PUNCT
cjfa-10416	4	5	&	&	CCONJ
cjfa-10416	4	6	gomes	gomes	PROPN
cjfa-10416	4	7	l.	l.	PROPN
cjfa-10416	4	8	m.	m.	PROPN
cjfa-10416	4	9	p.	p.	PROPN
cjfa-10416	4	10	(	(	PUNCT
cjfa-10416	4	11	2016	2016	NUM
cjfa-10416	4	12	)	)	PUNCT
cjfa-10416	4	13	.	.	PUNCT
cjfa-10416	5	1	the	the	DET
cjfa-10416	5	2	impact	impact	NOUN
cjfa-10416	5	3	of	of	ADP
cjfa-10416	5	4	the	the	DET
cjfa-10416	5	5	preliminary	preliminary	ADJ
cjfa-10416	5	6	announcement	announcement	NOUN
cjfa-10416	5	7	on	on	ADP
cjfa-10416	5	8	the	the	DET
cjfa-10416	5	9	abnormal	abnormal	ADJ
cjfa-10416	5	10	returns	return	NOUN
cjfa-10416	5	11	of	of	ADP
cjfa-10416	5	12	the	the	DET
cjfa-10416	5	13	companies	company	NOUN
cjfa-10416	5	14	involved	involve	VERB
cjfa-10416	5	15	in	in	ADP
cjfa-10416	5	16	takeover	takeover	NOUN
cjfa-10416	5	17	bids	bid	NOUN
cjfa-10416	5	18	in	in	ADP
cjfa-10416	5	19	the	the	DET
cjfa-10416	5	20	portuguese	portuguese	ADJ
cjfa-10416	5	21	stock	stock	NOUN
cjfa-10416	5	22	market	market	NOUN
cjfa-10416	5	23	between	between	ADP
cjfa-10416	5	24	2000	2000	NUM
cjfa-10416	5	25	and	and	CCONJ
cjfa-10416	5	26	2014	2014	NUM
cjfa-10416	5	27	.	.	PUNCT
cjfa-10416	6	1	copernican	copernican	PROPN
cjfa-10416	6	2	journal	journal	PROPN
cjfa-10416	6	3	of	of	ADP
cjfa-10416	6	4	finance	finance	PROPN
cjfa-10416	6	5	&	&	CCONJ
cjfa-10416	6	6	accounting	accounting	PROPN
cjfa-10416	6	7	,	,	PUNCT
cjfa-10416	6	8	5(1	5(1	NUM
cjfa-10416	6	9	)	)	PUNCT
cjfa-10416	6	10	,	,	PUNCT
cjfa-10416	6	11	39–65	39–65	NUM
cjfa-10416	6	12	.	.	PUNCT
cjfa-10416	7	1	http://dx.doi	http://dx.doi	NOUN
cjfa-10416	7	2	.	.	PUNCT
cjfa-10416	8	1	org/10.12775	org/10.12775	PROPN
cjfa-10416	8	2	/	/	SYM
cjfa-10416	8	3	cjfa.2016.003	cjfa.2016.003	PROPN
cjfa-10416	8	4	joão	joão	PROPN
cjfa-10416	8	5	paulo	paulo	PROPN
cjfa-10416	8	6	braga	braga	PROPN
cjfa-10416	8	7	*	*	PUNCT
cjfa-10416	8	8	iscap	iscap	PROPN
cjfa-10416	8	9	–	–	PUNCT
cjfa-10416	8	10	instituto	instituto	PROPN
cjfa-10416	8	11	superior	superior	PROPN
cjfa-10416	8	12	de	de	PROPN
cjfa-10416	8	13	contabilidade	contabilidade	PROPN
cjfa-10416	8	14	e	e	PROPN
cjfa-10416	8	15	administração	administração	PROPN
cjfa-10416	8	16	do	do	AUX
cjfa-10416	8	17	porto	porto	PROPN
cjfa-10416	8	18	luís	luís	PROPN
cjfa-10416	8	19	m.	m.	PROPN
cjfa-10416	8	20	pereira	pereira	PROPN
cjfa-10416	8	21	gomes	gomes	PROPN
cjfa-10416	8	22	*	*	PROPN
cjfa-10416	8	23	*	*	PROPN
cjfa-10416	8	24	iscap	iscap	PROPN
cjfa-10416	8	25	–	–	PUNCT
cjfa-10416	8	26	instituto	instituto	PROPN
cjfa-10416	8	27	superior	superior	PROPN
cjfa-10416	8	28	de	de	PROPN
cjfa-10416	8	29	contabilidade	contabilidade	PROPN
cjfa-10416	8	30	e	e	PROPN
cjfa-10416	8	31	administração	administração	PROPN
cjfa-10416	8	32	do	do	AUX
cjfa-10416	8	33	porto	porto	VERB
cjfa-10416	8	34	the	the	DET
cjfa-10416	8	35	impact	impact	NOUN
cjfa-10416	8	36	of	of	ADP
cjfa-10416	8	37	the	the	DET
cjfa-10416	8	38	preliminary	preliminary	ADJ
cjfa-10416	8	39	announcement	announcement	NOUN
cjfa-10416	8	40	on	on	ADP
cjfa-10416	8	41	the	the	DET
cjfa-10416	8	42	abnormal	abnormal	ADJ
cjfa-10416	8	43	returns	return	NOUN
cjfa-10416	8	44	of	of	ADP
cjfa-10416	8	45	the	the	DET
cjfa-10416	8	46	companies	company	NOUN
cjfa-10416	8	47	involved	involve	VERB
cjfa-10416	8	48	in	in	ADP
cjfa-10416	8	49	takeover	takeover	NOUN
cjfa-10416	8	50	bids	bid	NOUN
cjfa-10416	8	51	in	in	ADP
cjfa-10416	8	52	the	the	DET
cjfa-10416	8	53	portuguese	portuguese	ADJ
cjfa-10416	8	54	stock	stock	NOUN
cjfa-10416	8	55	market	market	NOUN
cjfa-10416	8	56	etween	etween	VERB
cjfa-10416	8	57	2000	2000	NUM
cjfa-10416	8	58	and	and	CCONJ
cjfa-10416	8	59	2014	2014	NUM
cjfa-10416	8	60	keywords	keyword	NOUN
cjfa-10416	8	61	:	:	PUNCT
cjfa-10416	8	62	takeover	takeover	NOUN
cjfa-10416	8	63	bid	bid	NOUN
cjfa-10416	8	64	,	,	PUNCT
cjfa-10416	8	65	abnormal	abnormal	ADJ
cjfa-10416	8	66	returns	return	NOUN
cjfa-10416	8	67	,	,	PUNCT
cjfa-10416	8	68	hostile	hostile	ADJ
cjfa-10416	8	69	takeover	takeover	NOUN
cjfa-10416	8	70	,	,	PUNCT
cjfa-10416	8	71	price	price	NOUN
cjfa-10416	8	72	reaction	reaction	NOUN
cjfa-10416	8	73	,	,	PUNCT
cjfa-10416	8	74	bid	bid	NOUN
cjfa-10416	8	75	premium	premium	NOUN
cjfa-10416	8	76	.	.	PUNCT
cjfa-10416	9	1	j	j	PROPN
cjfa-10416	9	2	e	e	PROPN
cjfa-10416	9	3	l	l	PROPN
cjfa-10416	9	4	classification	classification	NOUN
cjfa-10416	9	5	:	:	PUNCT
cjfa-10416	9	6	g10	g10	PROPN
cjfa-10416	9	7	,	,	PUNCT
cjfa-10416	9	8	g14	g14	PROPN
cjfa-10416	9	9	,	,	PUNCT
cjfa-10416	9	10	g30	g30	PROPN
cjfa-10416	9	11	,	,	PUNCT
cjfa-10416	9	12	g34	g34	PROPN
cjfa-10416	9	13	.	.	PUNCT
cjfa-10416	10	1	abstract	abstract	ADJ
cjfa-10416	10	2	:	:	PUNCT
cjfa-10416	10	3	the	the	DET
cjfa-10416	10	4	comprehension	comprehension	NOUN
cjfa-10416	10	5	of	of	ADP
cjfa-10416	10	6	terms	term	NOUN
cjfa-10416	10	7	such	such	ADJ
cjfa-10416	10	8	as	as	ADP
cjfa-10416	10	9	takeover	takeover	NOUN
cjfa-10416	10	10	bids	bid	NOUN
cjfa-10416	10	11	is	be	AUX
cjfa-10416	10	12	essential	essential	ADJ
cjfa-10416	10	13	to	to	PART
cjfa-10416	10	14	understand	understand	VERB
cjfa-10416	10	15	the	the	DET
cjfa-10416	10	16	functioning	functioning	NOUN
cjfa-10416	10	17	of	of	ADP
cjfa-10416	10	18	business	business	NOUN
cjfa-10416	10	19	combinations	combination	NOUN
cjfa-10416	10	20	.	.	PUNCT
cjfa-10416	11	1	this	this	DET
cjfa-10416	11	2	paper	paper	NOUN
cjfa-10416	11	3	aims	aim	VERB
cjfa-10416	11	4	to	to	PART
cjfa-10416	11	5	analyze	analyze	VERB
cjfa-10416	11	6	the	the	DET
cjfa-10416	11	7	impact	impact	NOUN
cjfa-10416	11	8	of	of	ADP
cjfa-10416	11	9	the	the	DET
cjfa-10416	11	10	preliminary	preliminary	ADJ
cjfa-10416	11	11	announcement	announcement	NOUN
cjfa-10416	11	12	on	on	ADP
cjfa-10416	11	13	the	the	DET
cjfa-10416	11	14	abnormal	abnormal	ADJ
cjfa-10416	11	15	returns	return	NOUN
cjfa-10416	11	16	of	of	ADP
cjfa-10416	11	17	the	the	DET
cjfa-10416	11	18	companies	company	NOUN
cjfa-10416	11	19	involved	involve	VERB
cjfa-10416	11	20	in	in	ADP
cjfa-10416	11	21	takeover	takeover	NOUN
cjfa-10416	11	22	bids	bid	NOUN
cjfa-10416	11	23	in	in	ADP
cjfa-10416	11	24	the	the	DET
cjfa-10416	11	25	portuguese	portuguese	ADJ
cjfa-10416	11	26	stock	stock	NOUN
cjfa-10416	11	27	market	market	NOUN
cjfa-10416	11	28	.	.	PUNCT
cjfa-10416	12	1	this	this	DET
cjfa-10416	12	2	study	study	NOUN
cjfa-10416	12	3	used	use	VERB
cjfa-10416	12	4	the	the	DET
cjfa-10416	12	5	methodologies	methodology	NOUN
cjfa-10416	12	6	of	of	ADP
cjfa-10416	12	7	ball	ball	NOUN
cjfa-10416	12	8	and	and	CCONJ
cjfa-10416	12	9	brown	brown	ADJ
cjfa-10416	12	10	(	(	PUNCT
cjfa-10416	12	11	1968	1968	NUM
cjfa-10416	12	12	)	)	PUNCT
cjfa-10416	12	13	and	and	CCONJ
cjfa-10416	12	14	beaver	beaver	NOUN
cjfa-10416	12	15	(	(	PUNCT
cjfa-10416	12	16	1968	1968	NUM
cjfa-10416	12	17	)	)	PUNCT
cjfa-10416	12	18	.	.	PUNCT
cjfa-10416	13	1	100	100	NUM
cjfa-10416	13	2	operations	operation	NOUN
cjfa-10416	13	3	were	be	AUX
cjfa-10416	13	4	identified	identify	VERB
cjfa-10416	13	5	between	between	ADP
cjfa-10416	13	6	joão	joão	PROPN
cjfa-10416	13	7	paulo	paulo	PROPN
cjfa-10416	13	8	braga	braga	PROPN
cjfa-10416	13	9	,	,	PUNCT
cjfa-10416	13	10	luís	luís	PROPN
cjfa-10416	13	11	m.	m.	PROPN
cjfa-10416	13	12	pereira	pereira	PROPN
cjfa-10416	13	13	gomes40	gomes40	PROPN
cjfa-10416	13	14	2000	2000	NUM
cjfa-10416	13	15	and	and	CCONJ
cjfa-10416	13	16	2014	2014	NUM
cjfa-10416	13	17	.	.	PUNCT
cjfa-10416	14	1	the	the	DET
cjfa-10416	14	2	results	result	NOUN
cjfa-10416	14	3	of	of	ADP
cjfa-10416	14	4	the	the	DET
cjfa-10416	14	5	12	12	NUM
cjfa-10416	14	6	analyzed	analyze	VERB
cjfa-10416	14	7	bids	bid	NOUN
cjfa-10416	14	8	confirm	confirm	VERB
cjfa-10416	14	9	that	that	SCONJ
cjfa-10416	14	10	the	the	DET
cjfa-10416	14	11	target	target	NOUN
cjfa-10416	14	12	companies	company	NOUN
cjfa-10416	14	13	show	show	VERB
cjfa-10416	14	14	positive	positive	ADJ
cjfa-10416	14	15	abnormal	abnormal	ADJ
cjfa-10416	14	16	returns	return	NOUN
cjfa-10416	14	17	,	,	PUNCT
cjfa-10416	14	18	whilst	whilst	SCONJ
cjfa-10416	14	19	the	the	DET
cjfa-10416	14	20	acquiring	acquire	VERB
cjfa-10416	14	21	companies	company	NOUN
cjfa-10416	14	22	show	show	VERB
cjfa-10416	14	23	negative	negative	ADJ
cjfa-10416	14	24	abnormal	abnormal	ADJ
cjfa-10416	14	25	returns	return	NOUN
cjfa-10416	14	26	and	and	CCONJ
cjfa-10416	14	27	inferior	inferior	ADJ
cjfa-10416	14	28	in	in	ADP
cjfa-10416	14	29	amplitude	amplitude	NOUN
cjfa-10416	14	30	.	.	PUNCT
cjfa-10416	15	1	they	they	PRON
cjfa-10416	15	2	also	also	ADV
cjfa-10416	15	3	confirm	confirm	VERB
cjfa-10416	15	4	that	that	SCONJ
cjfa-10416	15	5	,	,	PUNCT
cjfa-10416	15	6	globally	globally	ADV
cjfa-10416	15	7	,	,	PUNCT
cjfa-10416	15	8	the	the	DET
cjfa-10416	15	9	companies	company	NOUN
cjfa-10416	15	10	react	react	VERB
cjfa-10416	15	11	strongly	strongly	ADV
cjfa-10416	15	12	to	to	ADP
cjfa-10416	15	13	the	the	DET
cjfa-10416	15	14	announcement	announcement	NOUN
cjfa-10416	15	15	and	and	CCONJ
cjfa-10416	15	16	that	that	SCONJ
cjfa-10416	15	17	they	they	PRON
cjfa-10416	15	18	acquire	acquire	VERB
cjfa-10416	15	19	higher	high	ADJ
cjfa-10416	15	20	abnormal	abnormal	ADJ
cjfa-10416	15	21	earnings	earning	NOUN
cjfa-10416	15	22	in	in	ADP
cjfa-10416	15	23	the	the	DET
cjfa-10416	15	24	periods	period	NOUN
cjfa-10416	15	25	closest	close	ADJ
cjfa-10416	15	26	to	to	ADP
cjfa-10416	15	27	the	the	DET
cjfa-10416	15	28	preliminary	preliminary	ADJ
cjfa-10416	15	29	announcement	announcement	NOUN
cjfa-10416	15	30	.	.	PUNCT
cjfa-10416	15	31	 	 	SPACE
cjfa-10416	16	1	introduction	introduction	NOUN
cjfa-10416	16	2	the	the	DET
cjfa-10416	16	3	international	international	ADJ
cjfa-10416	16	4	scientific	scientific	ADJ
cjfa-10416	16	5	community	community	NOUN
cjfa-10416	16	6	has	have	AUX
cjfa-10416	16	7	given	give	VERB
cjfa-10416	16	8	relevant	relevant	ADJ
cjfa-10416	16	9	importance	importance	NOUN
cjfa-10416	16	10	to	to	ADP
cjfa-10416	16	11	the	the	DET
cjfa-10416	16	12	business	business	NOUN
cjfa-10416	16	13	combinations	combination	NOUN
cjfa-10416	16	14	occurred	occur	VERB
cjfa-10416	16	15	in	in	ADP
cjfa-10416	16	16	the	the	DET
cjfa-10416	16	17	globalized	globalized	ADJ
cjfa-10416	16	18	market	market	NOUN
cjfa-10416	16	19	.	.	PUNCT
cjfa-10416	17	1	mergers	merger	NOUN
cjfa-10416	17	2	and	and	CCONJ
cjfa-10416	17	3	acquisitions	acquisition	NOUN
cjfa-10416	17	4	(	(	PUNCT
cjfa-10416	17	5	m&a	m&a	PROPN
cjfa-10416	17	6	)	)	PUNCT
cjfa-10416	17	7	are	be	AUX
cjfa-10416	17	8	more	more	ADV
cjfa-10416	17	9	and	and	CCONJ
cjfa-10416	17	10	more	more	ADJ
cjfa-10416	17	11	a	a	DET
cjfa-10416	17	12	path	path	NOUN
cjfa-10416	17	13	to	to	ADP
cjfa-10416	17	14	external	external	ADJ
cjfa-10416	17	15	growth	growth	NOUN
cjfa-10416	17	16	used	use	VERB
cjfa-10416	17	17	by	by	ADP
cjfa-10416	17	18	the	the	DET
cjfa-10416	17	19	companies	company	NOUN
cjfa-10416	17	20	to	to	PART
cjfa-10416	17	21	satisfy	satisfy	VERB
cjfa-10416	17	22	their	their	PRON
cjfa-10416	17	23	strategic	strategic	ADJ
cjfa-10416	17	24	objectives	objective	NOUN
cjfa-10416	17	25	.	.	PUNCT
cjfa-10416	18	1	in	in	ADP
cjfa-10416	18	2	this	this	DET
cjfa-10416	18	3	context	context	NOUN
cjfa-10416	18	4	,	,	PUNCT
cjfa-10416	18	5	takeover	takeover	NOUN
cjfa-10416	18	6	bids	bid	NOUN
cjfa-10416	18	7	are	be	AUX
cjfa-10416	18	8	identified	identify	VERB
cjfa-10416	18	9	as	as	ADP
cjfa-10416	18	10	a	a	DET
cjfa-10416	18	11	frequent	frequent	ADJ
cjfa-10416	18	12	instrument	instrument	NOUN
cjfa-10416	18	13	which	which	PRON
cjfa-10416	18	14	was	be	AUX
cjfa-10416	18	15	used	use	VERB
cjfa-10416	18	16	several	several	ADJ
cjfa-10416	18	17	times	time	NOUN
cjfa-10416	18	18	in	in	ADP
cjfa-10416	18	19	the	the	DET
cjfa-10416	18	20	last	last	ADJ
cjfa-10416	18	21	two	two	NUM
cjfa-10416	18	22	decades	decade	NOUN
cjfa-10416	18	23	,	,	PUNCT
cjfa-10416	18	24	but	but	CCONJ
cjfa-10416	18	25	is	be	AUX
cjfa-10416	18	26	n’t	not	PART
cjfa-10416	18	27	usually	usually	ADV
cjfa-10416	18	28	studied	study	VERB
cjfa-10416	18	29	in	in	ADP
cjfa-10416	18	30	portugal	portugal	PROPN
cjfa-10416	18	31	.	.	PUNCT
cjfa-10416	19	1	frequently	frequently	ADV
cjfa-10416	19	2	several	several	ADJ
cjfa-10416	19	3	significant	significant	ADJ
cjfa-10416	19	4	changes	change	NOUN
cjfa-10416	19	5	are	be	AUX
cjfa-10416	19	6	identified	identify	VERB
cjfa-10416	19	7	on	on	ADP
cjfa-10416	19	8	the	the	DET
cjfa-10416	19	9	stock	stock	NOUN
cjfa-10416	19	10	prices	price	NOUN
cjfa-10416	19	11	of	of	ADP
cjfa-10416	19	12	the	the	DET
cjfa-10416	19	13	companies	company	NOUN
cjfa-10416	19	14	involved	involve	VERB
cjfa-10416	19	15	in	in	ADP
cjfa-10416	19	16	takeover	takeover	NOUN
cjfa-10416	19	17	bids	bid	NOUN
cjfa-10416	19	18	that	that	PRON
cjfa-10416	19	19	,	,	PUNCT
cjfa-10416	19	20	in	in	ADP
cjfa-10416	19	21	most	most	ADJ
cjfa-10416	19	22	cases	case	NOUN
cjfa-10416	19	23	,	,	PUNCT
cjfa-10416	19	24	last	last	ADJ
cjfa-10416	19	25	several	several	ADJ
cjfa-10416	19	26	weeks	week	NOUN
cjfa-10416	19	27	.	.	PUNCT
cjfa-10416	20	1	this	this	DET
cjfa-10416	20	2	subject	subject	NOUN
cjfa-10416	20	3	is	be	AUX
cjfa-10416	20	4	studied	study	VERB
cjfa-10416	20	5	in	in	ADP
cjfa-10416	20	6	the	the	DET
cjfa-10416	20	7	area	area	NOUN
cjfa-10416	20	8	of	of	ADP
cjfa-10416	20	9	event	event	NOUN
cjfa-10416	20	10	studies	study	NOUN
cjfa-10416	20	11	.	.	PUNCT
cjfa-10416	21	1	the	the	DET
cjfa-10416	21	2	main	main	ADJ
cjfa-10416	21	3	objective	objective	NOUN
cjfa-10416	21	4	of	of	ADP
cjfa-10416	21	5	this	this	DET
cjfa-10416	21	6	paper	paper	NOUN
cjfa-10416	21	7	focuses	focus	VERB
cjfa-10416	21	8	on	on	ADP
cjfa-10416	21	9	the	the	DET
cjfa-10416	21	10	analysis	analysis	NOUN
cjfa-10416	21	11	of	of	ADP
cjfa-10416	21	12	the	the	DET
cjfa-10416	21	13	impact	impact	NOUN
cjfa-10416	21	14	of	of	ADP
cjfa-10416	21	15	preliminary	preliminary	ADJ
cjfa-10416	21	16	announcements	announcement	NOUN
cjfa-10416	21	17	of	of	ADP
cjfa-10416	21	18	the	the	DET
cjfa-10416	21	19	takeover	takeover	NOUN
cjfa-10416	21	20	bids	bid	NOUN
cjfa-10416	21	21	on	on	ADP
cjfa-10416	21	22	the	the	DET
cjfa-10416	21	23	stock	stock	NOUN
cjfa-10416	21	24	prices	price	NOUN
cjfa-10416	21	25	of	of	ADP
cjfa-10416	21	26	the	the	DET
cjfa-10416	21	27	companies	company	NOUN
cjfa-10416	21	28	involved	involve	VERB
cjfa-10416	21	29	(	(	PUNCT
cjfa-10416	21	30	acquiring	acquire	VERB
cjfa-10416	21	31	and	and	CCONJ
cjfa-10416	21	32	target	target	VERB
cjfa-10416	21	33	)	)	PUNCT
cjfa-10416	21	34	in	in	ADP
cjfa-10416	21	35	the	the	DET
cjfa-10416	21	36	portuguese	portuguese	ADJ
cjfa-10416	21	37	stock	stock	NOUN
cjfa-10416	21	38	market	market	NOUN
cjfa-10416	21	39	.	.	PUNCT
cjfa-10416	22	1	more	more	ADV
cjfa-10416	22	2	precisely	precisely	ADV
cjfa-10416	22	3	,	,	PUNCT
cjfa-10416	22	4	the	the	DET
cjfa-10416	22	5	objective	objective	NOUN
cjfa-10416	22	6	is	be	AUX
cjfa-10416	22	7	to	to	PART
cjfa-10416	22	8	identify	identify	VERB
cjfa-10416	22	9	who	who	PRON
cjfa-10416	22	10	gains	gain	VERB
cjfa-10416	22	11	and	and	CCONJ
cjfa-10416	22	12	loses	lose	VERB
cjfa-10416	22	13	with	with	ADP
cjfa-10416	22	14	the	the	DET
cjfa-10416	22	15	bid	bid	NOUN
cjfa-10416	22	16	’s	’s	PART
cjfa-10416	22	17	announcement	announcement	NOUN
cjfa-10416	22	18	,	,	PUNCT
cjfa-10416	22	19	through	through	ADP
cjfa-10416	22	20	the	the	DET
cjfa-10416	22	21	calculation	calculation	NOUN
cjfa-10416	22	22	of	of	ADP
cjfa-10416	22	23	the	the	DET
cjfa-10416	22	24	abnormal	abnormal	ADJ
cjfa-10416	22	25	returns	return	NOUN
cjfa-10416	22	26	,	,	PUNCT
cjfa-10416	22	27	using	use	VERB
cjfa-10416	22	28	the	the	DET
cjfa-10416	22	29	methodologies	methodology	NOUN
cjfa-10416	22	30	of	of	ADP
cjfa-10416	22	31	ball	ball	NOUN
cjfa-10416	22	32	and	and	CCONJ
cjfa-10416	22	33	brown	brown	ADJ
cjfa-10416	22	34	(	(	PUNCT
cjfa-10416	22	35	1968	1968	NUM
cjfa-10416	22	36	)	)	PUNCT
cjfa-10416	22	37	and	and	CCONJ
cjfa-10416	22	38	beaver	beaver	NOUN
cjfa-10416	22	39	(	(	PUNCT
cjfa-10416	22	40	1968	1968	NUM
cjfa-10416	22	41	)	)	PUNCT
cjfa-10416	22	42	.	.	PUNCT
cjfa-10416	23	1	during	during	ADP
cjfa-10416	23	2	the	the	DET
cjfa-10416	23	3	empirical	empirical	ADJ
cjfa-10416	23	4	research	research	NOUN
cjfa-10416	23	5	,	,	PUNCT
cjfa-10416	23	6	12	12	NUM
cjfa-10416	23	7	takeover	takeover	NOUN
cjfa-10416	23	8	bids	bid	NOUN
cjfa-10416	23	9	,	,	PUNCT
cjfa-10416	23	10	registered	register	VERB
cjfa-10416	23	11	on	on	ADP
cjfa-10416	23	12	comissão	comissão	NOUN
cjfa-10416	23	13	do	do	AUX
cjfa-10416	23	14	mercado	mercado	X
cjfa-10416	23	15	de	de	PROPN
cjfa-10416	23	16	valores	valores	PROPN
cjfa-10416	23	17	mobiliários	mobiliário	NOUN
cjfa-10416	23	18	(	(	PUNCT
cjfa-10416	23	19	cmvm	cmvm	NOUN
cjfa-10416	23	20	)	)	PUNCT
cjfa-10416	23	21	,	,	PUNCT
cjfa-10416	23	22	were	be	AUX
cjfa-10416	23	23	considered	consider	VERB
cjfa-10416	23	24	during	during	ADP
cjfa-10416	23	25	the	the	DET
cjfa-10416	23	26	years	year	NOUN
cjfa-10416	23	27	between	between	ADP
cjfa-10416	23	28	2000	2000	NUM
cjfa-10416	23	29	and	and	CCONJ
cjfa-10416	23	30	2014	2014	NUM
cjfa-10416	23	31	.	.	PUNCT
cjfa-10416	24	1	the	the	DET
cjfa-10416	24	2	final	final	ADJ
cjfa-10416	24	3	objective	objective	NOUN
cjfa-10416	24	4	requires	require	VERB
cjfa-10416	24	5	a	a	DET
cjfa-10416	24	6	quantitative	quantitative	ADJ
cjfa-10416	24	7	approach	approach	NOUN
cjfa-10416	24	8	using	use	VERB
cjfa-10416	24	9	the	the	DET
cjfa-10416	24	10	deductive	deductive	ADJ
cjfa-10416	24	11	method	method	NOUN
cjfa-10416	24	12	.	.	PUNCT
cjfa-10416	25	1	the	the	DET
cjfa-10416	25	2	paper	paper	NOUN
cjfa-10416	25	3	is	be	AUX
cjfa-10416	25	4	divided	divide	VERB
cjfa-10416	25	5	into	into	ADP
cjfa-10416	25	6	five	five	NUM
cjfa-10416	25	7	different	different	ADJ
cjfa-10416	25	8	chapters	chapter	NOUN
cjfa-10416	25	9	.	.	PUNCT
cjfa-10416	26	1	on	on	ADP
cjfa-10416	26	2	the	the	DET
cjfa-10416	26	3	second	second	ADJ
cjfa-10416	26	4	chapter	chapter	NOUN
cjfa-10416	26	5	,	,	PUNCT
cjfa-10416	26	6	a	a	DET
cjfa-10416	26	7	literature	literature	NOUN
cjfa-10416	26	8	review	review	NOUN
cjfa-10416	26	9	is	be	AUX
cjfa-10416	26	10	presented	present	VERB
cjfa-10416	26	11	about	about	ADP
cjfa-10416	26	12	the	the	DET
cjfa-10416	26	13	various	various	ADJ
cjfa-10416	26	14	forms	form	NOUN
cjfa-10416	26	15	involving	involve	VERB
cjfa-10416	26	16	takeover	takeover	NOUN
cjfa-10416	26	17	bids	bid	NOUN
cjfa-10416	26	18	and	and	CCONJ
cjfa-10416	26	19	over	over	ADP
cjfa-10416	26	20	the	the	DET
cjfa-10416	26	21	arguments	argument	NOUN
cjfa-10416	26	22	connected	connect	VERB
cjfa-10416	26	23	to	to	ADP
cjfa-10416	26	24	each	each	DET
cjfa-10416	26	25	type	type	NOUN
cjfa-10416	26	26	of	of	ADP
cjfa-10416	26	27	takeover	takeover	NOUN
cjfa-10416	26	28	bid	bid	NOUN
cjfa-10416	26	29	.	.	PUNCT
cjfa-10416	27	1	additionally	additionally	ADV
cjfa-10416	27	2	,	,	PUNCT
cjfa-10416	27	3	themes	theme	NOUN
cjfa-10416	27	4	that	that	PRON
cjfa-10416	27	5	involve	involve	VERB
cjfa-10416	27	6	these	these	DET
cjfa-10416	27	7	operations	operation	NOUN
cjfa-10416	27	8	,	,	PUNCT
cjfa-10416	27	9	such	such	ADJ
cjfa-10416	27	10	as	as	ADP
cjfa-10416	27	11	corporate	corporate	ADJ
cjfa-10416	27	12	governance	governance	NOUN
cjfa-10416	27	13	–	–	PUNCT
cjfa-10416	27	14	explained	explain	VERB
cjfa-10416	27	15	by	by	ADP
cjfa-10416	27	16	the	the	DET
cjfa-10416	27	17	agency	agency	NOUN
cjfa-10416	27	18	theory	theory	NOUN
cjfa-10416	27	19	–	–	PUNCT
cjfa-10416	27	20	and	and	CCONJ
cjfa-10416	27	21	bid	bid	NOUN
cjfa-10416	27	22	premium	premium	NOUN
cjfa-10416	27	23	.	.	PUNCT
cjfa-10416	28	1	the	the	DET
cjfa-10416	28	2	next	next	ADJ
cjfa-10416	28	3	chapter	chapter	NOUN
cjfa-10416	28	4	,	,	PUNCT
cjfa-10416	28	5	a	a	DET
cjfa-10416	28	6	literature	literature	NOUN
cjfa-10416	28	7	review	review	NOUN
cjfa-10416	28	8	about	about	ADP
cjfa-10416	28	9	event	event	NOUN
cjfa-10416	28	10	studies	study	NOUN
cjfa-10416	28	11	is	be	AUX
cjfa-10416	28	12	presented	present	VERB
cjfa-10416	28	13	,	,	PUNCT
cjfa-10416	28	14	focusing	focus	VERB
cjfa-10416	28	15	more	more	ADV
cjfa-10416	28	16	on	on	ADP
cjfa-10416	28	17	the	the	DET
cjfa-10416	28	18	subject	subject	NOUN
cjfa-10416	28	19	at	at	ADP
cjfa-10416	28	20	hand	hand	NOUN
cjfa-10416	28	21	and	and	CCONJ
cjfa-10416	28	22	taking	take	VERB
cjfa-10416	28	23	into	into	ADP
cjfa-10416	28	24	account	account	NOUN
cjfa-10416	28	25	the	the	DET
cjfa-10416	28	26	adopted	adopt	VERB
cjfa-10416	28	27	methodologies	methodology	NOUN
cjfa-10416	28	28	.	.	PUNCT
cjfa-10416	29	1	the	the	DET
cjfa-10416	29	2	fourth	fourth	ADJ
cjfa-10416	29	3	chapter	chapter	NOUN
cjfa-10416	29	4	presents	present	VERB
cjfa-10416	29	5	the	the	DET
cjfa-10416	29	6	empirical	empirical	ADJ
cjfa-10416	29	7	research	research	NOUN
cjfa-10416	29	8	,	,	PUNCT
cjfa-10416	29	9	using	use	VERB
cjfa-10416	29	10	hypothesis	hypothesis	NOUN
cjfa-10416	29	11	considering	consider	VERB
cjfa-10416	29	12	the	the	DET
cjfa-10416	29	13	final	final	ADJ
cjfa-10416	29	14	objective	objective	NOUN
cjfa-10416	29	15	of	of	ADP
cjfa-10416	29	16	this	this	DET
cjfa-10416	29	17	study	study	NOUN
cjfa-10416	29	18	,	,	PUNCT
cjfa-10416	29	19	specifying	specify	VERB
cjfa-10416	29	20	the	the	DET
cjfa-10416	29	21	models	model	NOUN
cjfa-10416	29	22	of	of	ADP
cjfa-10416	29	23	ball	ball	PROPN
cjfa-10416	29	24	&	&	CCONJ
cjfa-10416	29	25	brown	brown	PROPN
cjfa-10416	29	26	and	and	CCONJ
cjfa-10416	29	27	beaver	beaver	PROPN
cjfa-10416	29	28	,	,	PUNCT
cjfa-10416	29	29	the	the	DET
cjfa-10416	29	30	final	final	ADJ
cjfa-10416	29	31	results	result	NOUN
cjfa-10416	29	32	and	and	CCONJ
cjfa-10416	29	33	statistical	statistical	ADJ
cjfa-10416	29	34	tests	test	NOUN
cjfa-10416	29	35	,	,	PUNCT
cjfa-10416	29	36	as	as	ADV
cjfa-10416	29	37	well	well	ADV
cjfa-10416	29	38	as	as	ADP
cjfa-10416	29	39	its	its	PRON
cjfa-10416	29	40	discussion	discussion	NOUN
cjfa-10416	29	41	.	.	PUNCT
cjfa-10416	30	1	in	in	ADP
cjfa-10416	30	2	the	the	DET
cjfa-10416	30	3	last	last	ADJ
cjfa-10416	30	4	chapter	chapter	NOUN
cjfa-10416	30	5	,	,	PUNCT
cjfa-10416	30	6	the	the	DET
cjfa-10416	30	7	conclusions	conclusion	NOUN
cjfa-10416	30	8	are	be	AUX
cjfa-10416	30	9	specified	specify	VERB
cjfa-10416	30	10	.	.	PUNCT
cjfa-10416	31	1	the	the	DET
cjfa-10416	31	2	impact	impact	NOUN
cjfa-10416	31	3	of	of	ADP
cjfa-10416	31	4	the	the	DET
cjfa-10416	31	5	preliminary	preliminary	ADJ
cjfa-10416	31	6	announcement	announcement	NOUN
cjfa-10416	31	7	…	…	PUNCT
cjfa-10416	31	8	41	41	NUM
cjfa-10416	31	9	the	the	DET
cjfa-10416	31	10	research	research	NOUN
cjfa-10416	31	11	methodology	methodology	NOUN
cjfa-10416	31	12	and	and	CCONJ
cjfa-10416	31	13	the	the	DET
cjfa-10416	31	14	course	course	NOUN
cjfa-10416	31	15	of	of	ADP
cjfa-10416	31	16	the	the	DET
cjfa-10416	31	17	research	research	NOUN
cjfa-10416	31	18	process	process	NOUN
cjfa-10416	31	19	during	during	ADP
cjfa-10416	31	20	the	the	DET
cjfa-10416	31	21	research	research	NOUN
cjfa-10416	31	22	the	the	DET
cjfa-10416	31	23	following	follow	VERB
cjfa-10416	31	24	analyzes	analyze	NOUN
cjfa-10416	31	25	are	be	AUX
cjfa-10416	31	26	used	use	VERB
cjfa-10416	31	27	:	:	PUNCT
cjfa-10416	31	28	analytical	analytical	ADJ
cjfa-10416	31	29	,	,	PUNCT
cjfa-10416	31	30	graphical	graphical	ADJ
cjfa-10416	31	31	,	,	PUNCT
cjfa-10416	31	32	statistical	statistical	ADJ
cjfa-10416	31	33	and	and	CCONJ
cjfa-10416	31	34	empirical	empirical	ADJ
cjfa-10416	31	35	research	research	NOUN
cjfa-10416	31	36	method	method	NOUN
cjfa-10416	31	37	.	.	PUNCT
cjfa-10416	32	1	the	the	DET
cjfa-10416	32	2	theoretical	theoretical	ADJ
cjfa-10416	32	3	and	and	CCONJ
cjfa-10416	32	4	methodological	methodological	ADJ
cjfa-10416	32	5	basis	basis	NOUN
cjfa-10416	32	6	for	for	ADP
cjfa-10416	32	7	this	this	DET
cjfa-10416	32	8	research	research	NOUN
cjfa-10416	32	9	comes	come	VERB
cjfa-10416	32	10	from	from	ADP
cjfa-10416	32	11	specialized	specialized	ADJ
cjfa-10416	32	12	scientific	scientific	ADJ
cjfa-10416	32	13	literature	literature	NOUN
cjfa-10416	32	14	,	,	PUNCT
cjfa-10416	32	15	textbooks	textbook	NOUN
cjfa-10416	32	16	,	,	PUNCT
cjfa-10416	32	17	regulations	regulation	NOUN
cjfa-10416	32	18	,	,	PUNCT
cjfa-10416	32	19	published	publish	VERB
cjfa-10416	32	20	annual	annual	ADJ
cjfa-10416	32	21	reports	report	NOUN
cjfa-10416	32	22	and	and	CCONJ
cjfa-10416	32	23	quotation	quotation	NOUN
cjfa-10416	32	24	bulletins	bulletin	NOUN
cjfa-10416	32	25	of	of	ADP
cjfa-10416	32	26	supervisory	supervisory	ADJ
cjfa-10416	32	27	authorities	authority	NOUN
cjfa-10416	32	28	and	and	CCONJ
cjfa-10416	32	29	mass	mass	ADJ
cjfa-10416	32	30	communication	communication	NOUN
cjfa-10416	32	31	media	medium	NOUN
cjfa-10416	32	32	.	.	PUNCT
cjfa-10416	33	1	literature	literature	NOUN
cjfa-10416	33	2	review	review	PROPN
cjfa-10416	33	3	on	on	ADP
cjfa-10416	33	4	business	business	NOUN
cjfa-10416	33	5	acquisitions	acquisition	NOUN
cjfa-10416	33	6	m&a	m&a	PROPN
cjfa-10416	33	7	represent	represent	VERB
cjfa-10416	33	8	a	a	DET
cjfa-10416	33	9	substantial	substantial	ADJ
cjfa-10416	33	10	part	part	NOUN
cjfa-10416	33	11	of	of	ADP
cjfa-10416	33	12	the	the	DET
cjfa-10416	33	13	business	business	NOUN
cjfa-10416	33	14	operations	operation	NOUN
cjfa-10416	33	15	performed	perform	VERB
cjfa-10416	33	16	by	by	ADP
cjfa-10416	33	17	companies	company	NOUN
cjfa-10416	33	18	acting	act	VERB
cjfa-10416	33	19	in	in	ADP
cjfa-10416	33	20	evolved	evolved	ADJ
cjfa-10416	33	21	capital	capital	NOUN
cjfa-10416	33	22	markets	market	NOUN
cjfa-10416	33	23	,	,	PUNCT
cjfa-10416	33	24	transforming	transform	VERB
cjfa-10416	33	25	big	big	ADJ
cjfa-10416	33	26	corporations	corporation	NOUN
cjfa-10416	33	27	or	or	CCONJ
cjfa-10416	33	28	major	major	ADJ
cjfa-10416	33	29	companies	company	NOUN
cjfa-10416	33	30	that	that	PRON
cjfa-10416	33	31	are	be	AUX
cjfa-10416	33	32	important	important	ADJ
cjfa-10416	33	33	to	to	ADP
cjfa-10416	33	34	the	the	DET
cjfa-10416	33	35	world	world	NOUN
cjfa-10416	33	36	development	development	NOUN
cjfa-10416	33	37	.	.	PUNCT
cjfa-10416	34	1	one	one	NUM
cjfa-10416	34	2	of	of	ADP
cjfa-10416	34	3	the	the	DET
cjfa-10416	34	4	ways	way	NOUN
cjfa-10416	34	5	so	so	SCONJ
cjfa-10416	34	6	that	that	SCONJ
cjfa-10416	34	7	the	the	DET
cjfa-10416	34	8	companies	company	NOUN
cjfa-10416	34	9	may	may	AUX
cjfa-10416	34	10	grow	grow	VERB
cjfa-10416	34	11	is	be	AUX
cjfa-10416	34	12	via	via	ADP
cjfa-10416	34	13	decision	decision	NOUN
cjfa-10416	34	14	-	-	PUNCT
cjfa-10416	34	15	making	making	NOUN
cjfa-10416	34	16	regarding	regard	VERB
cjfa-10416	34	17	the	the	DET
cjfa-10416	34	18	merger	merger	NOUN
cjfa-10416	34	19	or	or	CCONJ
cjfa-10416	34	20	control	control	NOUN
cjfa-10416	34	21	,	,	PUNCT
cjfa-10416	34	22	merging	merge	VERB
cjfa-10416	34	23	and	and	CCONJ
cjfa-10416	34	24	acquiring	acquire	VERB
cjfa-10416	34	25	other	other	ADJ
cjfa-10416	34	26	companies	company	NOUN
cjfa-10416	34	27	.	.	PUNCT
cjfa-10416	35	1	“	"	PUNCT
cjfa-10416	35	2	in	in	ADP
cjfa-10416	35	3	acquisitions	acquisition	NOUN
cjfa-10416	35	4	,	,	PUNCT
cjfa-10416	35	5	the	the	DET
cjfa-10416	35	6	total	total	ADJ
cjfa-10416	35	7	capital	capital	NOUN
cjfa-10416	35	8	of	of	ADP
cjfa-10416	35	9	a	a	DET
cjfa-10416	35	10	smaller	small	ADJ
cjfa-10416	35	11	company	company	NOUN
cjfa-10416	35	12	becomes	become	VERB
cjfa-10416	35	13	propriety	propriety	NOUN
cjfa-10416	35	14	,	,	PUNCT
cjfa-10416	35	15	totally	totally	ADV
cjfa-10416	35	16	or	or	CCONJ
cjfa-10416	35	17	partially	partially	ADV
cjfa-10416	35	18	,	,	PUNCT
cjfa-10416	35	19	of	of	ADP
cjfa-10416	35	20	a	a	DET
cjfa-10416	35	21	bigger	big	ADJ
cjfa-10416	35	22	company	company	NOUN
cjfa-10416	35	23	in	in	ADP
cjfa-10416	35	24	size	size	NOUN
cjfa-10416	35	25	”	"	PUNCT
cjfa-10416	35	26	1	1	NUM
cjfa-10416	35	27	.	.	PUNCT
cjfa-10416	36	1	a	a	DET
cjfa-10416	36	2	vertical	vertical	ADJ
cjfa-10416	36	3	acquisition	acquisition	NOUN
cjfa-10416	36	4	occurs	occur	VERB
cjfa-10416	36	5	when	when	SCONJ
cjfa-10416	36	6	a	a	DET
cjfa-10416	36	7	company	company	NOUN
cjfa-10416	36	8	gains	gain	VERB
cjfa-10416	36	9	the	the	DET
cjfa-10416	36	10	propriety	propriety	NOUN
cjfa-10416	36	11	over	over	ADP
cjfa-10416	36	12	another	another	DET
cjfa-10416	36	13	company	company	NOUN
cjfa-10416	36	14	working	work	VERB
cjfa-10416	36	15	in	in	ADP
cjfa-10416	36	16	the	the	DET
cjfa-10416	36	17	same	same	ADJ
cjfa-10416	36	18	industry	industry	NOUN
cjfa-10416	36	19	,	,	PUNCT
cjfa-10416	36	20	but	but	CCONJ
cjfa-10416	36	21	in	in	ADP
cjfa-10416	36	22	different	different	ADJ
cjfa-10416	36	23	production	production	NOUN
cjfa-10416	36	24	stages	stage	NOUN
cjfa-10416	36	25	(	(	PUNCT
cjfa-10416	36	26	weston	weston	PROPN
cjfa-10416	36	27	,	,	PUNCT
cjfa-10416	36	28	mitchell	mitchell	PROPN
cjfa-10416	36	29	&	&	CCONJ
cjfa-10416	36	30	mulherin	mulherin	PROPN
cjfa-10416	36	31	2004	2004	NUM
cjfa-10416	36	32	)	)	PUNCT
cjfa-10416	36	33	.	.	PUNCT
cjfa-10416	37	1	this	this	DET
cjfa-10416	37	2	type	type	NOUN
cjfa-10416	37	3	of	of	ADP
cjfa-10416	37	4	acquisition	acquisition	NOUN
cjfa-10416	37	5	is	be	AUX
cjfa-10416	37	6	done	do	VERB
cjfa-10416	37	7	in	in	ADP
cjfa-10416	37	8	order	order	NOUN
cjfa-10416	37	9	to	to	PART
cjfa-10416	37	10	obtain	obtain	VERB
cjfa-10416	37	11	the	the	DET
cjfa-10416	37	12	total	total	ADJ
cjfa-10416	37	13	control	control	NOUN
cjfa-10416	37	14	of	of	ADP
cjfa-10416	37	15	the	the	DET
cjfa-10416	37	16	production	production	NOUN
cjfa-10416	37	17	chain	chain	NOUN
cjfa-10416	37	18	,	,	PUNCT
cjfa-10416	37	19	strengthening	strengthen	VERB
cjfa-10416	37	20	the	the	DET
cjfa-10416	37	21	position	position	NOUN
cjfa-10416	37	22	of	of	ADP
cjfa-10416	37	23	the	the	DET
cjfa-10416	37	24	company	company	NOUN
cjfa-10416	37	25	in	in	ADP
cjfa-10416	37	26	the	the	DET
cjfa-10416	37	27	market	market	NOUN
cjfa-10416	37	28	.	.	PUNCT
cjfa-10416	38	1	the	the	DET
cjfa-10416	38	2	horizontal	horizontal	PROPN
cjfa-10416	38	3	acquisition	acquisition	NOUN
cjfa-10416	38	4	occurs	occur	VERB
cjfa-10416	38	5	when	when	SCONJ
cjfa-10416	38	6	both	both	DET
cjfa-10416	38	7	companies	company	NOUN
cjfa-10416	38	8	work	work	VERB
cjfa-10416	38	9	,	,	PUNCT
cjfa-10416	38	10	produce	produce	VERB
cjfa-10416	38	11	and	and	CCONJ
cjfa-10416	38	12	compete	compete	VERB
cjfa-10416	38	13	in	in	ADP
cjfa-10416	38	14	the	the	DET
cjfa-10416	38	15	same	same	ADJ
cjfa-10416	38	16	industry	industry	NOUN
cjfa-10416	38	17	.	.	PUNCT
cjfa-10416	39	1	the	the	DET
cjfa-10416	39	2	merger	merger	NOUN
cjfa-10416	39	3	of	of	ADP
cjfa-10416	39	4	both	both	DET
cjfa-10416	39	5	companies	company	NOUN
cjfa-10416	39	6	may	may	AUX
cjfa-10416	39	7	result	result	VERB
cjfa-10416	39	8	in	in	ADP
cjfa-10416	39	9	a	a	DET
cjfa-10416	39	10	new	new	ADJ
cjfa-10416	39	11	company	company	NOUN
cjfa-10416	39	12	more	more	ADV
cjfa-10416	39	13	capable	capable	ADJ
cjfa-10416	39	14	to	to	PART
cjfa-10416	39	15	face	face	VERB
cjfa-10416	39	16	the	the	DET
cjfa-10416	39	17	market	market	NOUN
cjfa-10416	39	18	(	(	PUNCT
cjfa-10416	39	19	weston	weston	PROPN
cjfa-10416	39	20	et	et	PROPN
cjfa-10416	39	21	al	al	PROPN
cjfa-10416	39	22	.	.	PROPN
cjfa-10416	39	23	2004	2004	NUM
cjfa-10416	39	24	;	;	PUNCT
cjfa-10416	39	25	gaughan	gaughan	PROPN
cjfa-10416	39	26	2005	2005	NUM
cjfa-10416	39	27	)	)	PUNCT
cjfa-10416	39	28	.	.	PUNCT
cjfa-10416	40	1	with	with	ADP
cjfa-10416	40	2	this	this	DET
cjfa-10416	40	3	operation	operation	NOUN
cjfa-10416	40	4	the	the	DET
cjfa-10416	40	5	business	business	NOUN
cjfa-10416	40	6	capacity	capacity	NOUN
cjfa-10416	40	7	of	of	ADP
cjfa-10416	40	8	the	the	DET
cjfa-10416	40	9	acquiring	acquire	VERB
cjfa-10416	40	10	company	company	NOUN
cjfa-10416	40	11	increases	increase	NOUN
cjfa-10416	40	12	,	,	PUNCT
cjfa-10416	40	13	but	but	CCONJ
cjfa-10416	40	14	its	its	PRON
cjfa-10416	40	15	business	business	NOUN
cjfa-10416	40	16	structure	structure	NOUN
cjfa-10416	40	17	and	and	CCONJ
cjfa-10416	40	18	modus	modus	X
cjfa-10416	40	19	operandi	operandi	X
cjfa-10416	40	20	remains	remain	VERB
cjfa-10416	40	21	the	the	DET
cjfa-10416	40	22	same	same	ADJ
cjfa-10416	40	23	.	.	PUNCT
cjfa-10416	41	1	the	the	DET
cjfa-10416	41	2	table2	table2	PROPN
cjfa-10416	41	3	below	below	ADV
cjfa-10416	41	4	shows	show	VERB
cjfa-10416	41	5	some	some	DET
cjfa-10416	41	6	advantages	advantage	NOUN
cjfa-10416	41	7	/	/	SYM
cjfa-10416	41	8	disadvantages	disadvantage	NOUN
cjfa-10416	41	9	of	of	ADP
cjfa-10416	41	10	both	both	CCONJ
cjfa-10416	41	11	horizontal	horizontal	ADJ
cjfa-10416	41	12	and	and	CCONJ
cjfa-10416	41	13	vertical	vertical	ADJ
cjfa-10416	41	14	integrations	integration	NOUN
cjfa-10416	41	15	as	as	ADP
cjfa-10416	41	16	a	a	DET
cjfa-10416	41	17	vehicle	vehicle	NOUN
cjfa-10416	41	18	to	to	ADP
cjfa-10416	41	19	business	business	NOUN
cjfa-10416	41	20	growth	growth	NOUN
cjfa-10416	41	21	.	.	PUNCT
cjfa-10416	42	1	some	some	DET
cjfa-10416	42	2	disadvantages	disadvantage	NOUN
cjfa-10416	42	3	of	of	ADP
cjfa-10416	42	4	the	the	DET
cjfa-10416	42	5	vertical	vertical	ADJ
cjfa-10416	42	6	integration	integration	NOUN
cjfa-10416	42	7	occur	occur	VERB
cjfa-10416	42	8	with	with	ADP
cjfa-10416	42	9	new	new	ADJ
cjfa-10416	42	10	company	company	NOUN
cjfa-10416	42	11	’s	’s	PART
cjfa-10416	42	12	inefficiencies	inefficiency	NOUN
cjfa-10416	42	13	(	(	PUNCT
cjfa-10416	42	14	after	after	ADP
cjfa-10416	42	15	1	1	NUM
cjfa-10416	42	16	 	 	SPACE
cjfa-10416	42	17	“	"	PUNCT
cjfa-10416	42	18	manual	manual	ADJ
cjfa-10416	42	19	de	de	X
cjfa-10416	42	20	fusões	fusões	NOUN
cjfa-10416	42	21	e	e	PROPN
cjfa-10416	42	22	aquisições	aquisições	PROPN
cjfa-10416	42	23	de	de	PROPN
cjfa-10416	42	24	empresas	empresas	PROPN
cjfa-10416	42	25	no	no	DET
cjfa-10416	42	26	sector	sector	NOUN
cjfa-10416	42	27	das	das	PROPN
cjfa-10416	42	28	tic	tic	NOUN
cjfa-10416	42	29	”	"	PUNCT
cjfa-10416	42	30	,	,	PUNCT
cjfa-10416	42	31	http://www	http://www	PROPN
cjfa-10416	42	32	.	.	PUNCT
cjfa-10416	43	1	anetie.pt/userfiles/9/file/documentos/coopera%c3%a7%c3%a3o%20competitiva/	anetie.pt/userfiles/9/file/documentos/coopera%c3%a7%c3%a3o%20competitiva/	PROPN
cjfa-10416	43	2	manual%20de%20fus%c3%b5es%20e%20aq%20%20de%20empresas%20no%20	manual%20de%20fus%c3%b5es%20e%20aq%20%20de%20empresas%20no%20	PROPN
cjfa-10416	43	3	sector%20das%20tic%281%29.pdf	sector%20das%20tic%281%29.pdf	PROPN
cjfa-10416	43	4	,	,	PUNCT
cjfa-10416	43	5	anetie	anetie	NOUN
cjfa-10416	43	6	,	,	PUNCT
cjfa-10416	43	7	p.6	p.6	NOUN
cjfa-10416	43	8	.	.	PROPN
cjfa-10416	43	9	2	2	NUM
cjfa-10416	43	10	 	 	SPACE
cjfa-10416	43	11	“	"	PUNCT
cjfa-10416	43	12	strategic	strategic	ADJ
cjfa-10416	43	13	management	management	NOUN
cjfa-10416	43	14	insight	insight	NOUN
cjfa-10416	43	15	,	,	PUNCT
cjfa-10416	43	16	“	"	PUNCT
cjfa-10416	43	17	horizontal	horizontal	ADJ
cjfa-10416	43	18	integration	integration	NOUN
cjfa-10416	43	19	&	&	CCONJ
cjfa-10416	43	20	vertical	vertical	ADJ
cjfa-10416	43	21	integration	integration	NOUN
cjfa-10416	43	22	”	"	PUNCT
cjfa-10416	43	23	,	,	PUNCT
cjfa-10416	43	24	http://www.strategicmanagementinsight.com/topics/horizontal-integration.html	http://www.strategicmanagementinsight.com/topics/horizontal-integration.html	PROPN
cjfa-10416	43	25	and	and	CCONJ
cjfa-10416	43	26	http://www.strategicmanagementinsight.com/topics/vertical-integration.html	http://www.strategicmanagementinsight.com/topics/vertical-integration.html	PROPN
cjfa-10416	43	27	.	.	PUNCT
cjfa-10416	44	1	joão	joão	PROPN
cjfa-10416	44	2	paulo	paulo	PROPN
cjfa-10416	44	3	braga	braga	PROPN
cjfa-10416	44	4	,	,	PUNCT
cjfa-10416	44	5	luís	luís	PROPN
cjfa-10416	44	6	m.	m.	PROPN
cjfa-10416	44	7	pereira	pereira	PROPN
cjfa-10416	44	8	gomes42	gomes42	PROPN
cjfa-10416	44	9	acquisition	acquisition	PROPN
cjfa-10416	44	10	)	)	PUNCT
cjfa-10416	44	11	.	.	PUNCT
cjfa-10416	45	1	on	on	ADP
cjfa-10416	45	2	the	the	DET
cjfa-10416	45	3	other	other	ADJ
cjfa-10416	45	4	hand	hand	NOUN
cjfa-10416	45	5	,	,	PUNCT
cjfa-10416	45	6	the	the	DET
cjfa-10416	45	7	number	number	NOUN
cjfa-10416	45	8	of	of	ADP
cjfa-10416	45	9	advantages	advantage	NOUN
cjfa-10416	45	10	and	and	CCONJ
cjfa-10416	45	11	disadvantages	disadvantage	NOUN
cjfa-10416	45	12	are	be	AUX
cjfa-10416	45	13	less	less	ADJ
cjfa-10416	45	14	in	in	ADP
cjfa-10416	45	15	the	the	DET
cjfa-10416	45	16	horizontal	horizontal	ADJ
cjfa-10416	45	17	integration	integration	NOUN
cjfa-10416	45	18	,	,	PUNCT
cjfa-10416	45	19	because	because	SCONJ
cjfa-10416	45	20	it	it	PRON
cjfa-10416	45	21	reduces	reduce	VERB
cjfa-10416	45	22	competition	competition	NOUN
cjfa-10416	45	23	and	and	CCONJ
cjfa-10416	45	24	the	the	DET
cjfa-10416	45	25	complexity	complexity	NOUN
cjfa-10416	45	26	of	of	ADP
cjfa-10416	45	27	the	the	DET
cjfa-10416	45	28	company	company	NOUN
cjfa-10416	45	29	’s	’s	PART
cjfa-10416	45	30	“	"	PUNCT
cjfa-10416	45	31	logistics	logistic	NOUN
cjfa-10416	45	32	”	"	PUNCT
cjfa-10416	45	33	after	after	ADP
cjfa-10416	45	34	the	the	DET
cjfa-10416	45	35	operation	operation	NOUN
cjfa-10416	45	36	.	.	PUNCT
cjfa-10416	46	1	table	table	NOUN
cjfa-10416	46	2	1	1	NUM
cjfa-10416	46	3	.	.	PUNCT
cjfa-10416	46	4	horizontal	horizontal	ADJ
cjfa-10416	46	5	integration	integration	NOUN
cjfa-10416	46	6	vs	vs	ADP
cjfa-10416	46	7	vertical	vertical	ADJ
cjfa-10416	46	8	integration	integration	NOUN
cjfa-10416	46	9	horizontal	horizontal	ADJ
cjfa-10416	46	10	integration	integration	NOUN
cjfa-10416	46	11	vertical	vertical	ADJ
cjfa-10416	46	12	integration	integration	NOUN
cjfa-10416	46	13	advantages	advantage	NOUN
cjfa-10416	46	14	–	–	PUNCT
cjfa-10416	46	15	lower	low	ADJ
cjfa-10416	46	16	costs	cost	NOUN
cjfa-10416	46	17	–	–	PUNCT
cjfa-10416	46	18	greater	great	ADJ
cjfa-10416	46	19	differentiation	differentiation	NOUN
cjfa-10416	46	20	–	–	PUNCT
cjfa-10416	46	21	greater	great	ADJ
cjfa-10416	46	22	market	market	NOUN
cjfa-10416	46	23	share	share	NOUN
cjfa-10416	46	24	–	–	PUNCT
cjfa-10416	46	25	reduced	reduce	VERB
cjfa-10416	46	26	competition	competition	NOUN
cjfa-10416	46	27	–	–	PUNCT
cjfa-10416	46	28	access	access	NOUN
cjfa-10416	46	29	to	to	ADP
cjfa-10416	46	30	new	new	ADJ
cjfa-10416	46	31	markets	market	NOUN
cjfa-10416	46	32	–	–	PUNCT
cjfa-10416	46	33	lower	low	ADJ
cjfa-10416	46	34	costs	cost	NOUN
cjfa-10416	46	35	–	–	PUNCT
cjfa-10416	46	36	better	well	ADJ
cjfa-10416	46	37	supply	supply	NOUN
cjfa-10416	46	38	,	,	PUNCT
cjfa-10416	46	39	+	+	CCONJ
cjfa-10416	46	40	resources	resource	NOUN
cjfa-10416	46	41	–	–	PUNCT
cjfa-10416	46	42	better	well	ADJ
cjfa-10416	46	43	coordination	coordination	NOUN
cjfa-10416	46	44	–	–	PUNCT
cjfa-10416	46	45	better	well	ADJ
cjfa-10416	46	46	distribution	distribution	NOUN
cjfa-10416	46	47	–	–	PUNCT
cjfa-10416	46	48	greater	great	ADJ
cjfa-10416	46	49	market	market	NOUN
cjfa-10416	46	50	share	share	NOUN
cjfa-10416	46	51	–	–	PUNCT
cjfa-10416	46	52	more	more	ADJ
cjfa-10416	46	53	skills	skill	NOUN
cjfa-10416	46	54	–	–	PUNCT
cjfa-10416	46	55	easier	easy	ADJ
cjfa-10416	46	56	investment	investment	NOUN
cjfa-10416	46	57	opportunities	opportunity	NOUN
cjfa-10416	46	58	disadvantages	disadvantage	NOUN
cjfa-10416	46	59	–	–	PUNCT
cjfa-10416	46	60	destroyed	destroy	VERB
cjfa-10416	46	61	value	value	NOUN
cjfa-10416	46	62	–	–	PUNCT
cjfa-10416	46	63	legal	legal	ADJ
cjfa-10416	46	64	consequences	consequence	NOUN
cjfa-10416	46	65	–	–	PUNCT
cjfa-10416	46	66	reduced	reduce	VERB
cjfa-10416	46	67	flexibility	flexibility	NOUN
cjfa-10416	46	68	–	–	PUNCT
cjfa-10416	46	69	more	more	ADJ
cjfa-10416	46	70	costs	cost	NOUN
cjfa-10416	46	71	,	,	PUNCT
cjfa-10416	46	72	if	if	SCONJ
cjfa-10416	46	73	inefficient	inefficient	ADJ
cjfa-10416	46	74	–	–	PUNCT
cjfa-10416	46	75	smaller	small	ADJ
cjfa-10416	46	76	competition	competition	NOUN
cjfa-10416	46	77	,	,	PUNCT
cjfa-10416	46	78	less	less	ADJ
cjfa-10416	46	79	quality	quality	NOUN
cjfa-10416	46	80	–	–	PUNCT
cjfa-10416	46	81	reduced	reduce	VERB
cjfa-10416	46	82	competition	competition	NOUN
cjfa-10416	46	83	–	–	PUNCT
cjfa-10416	46	84	legal	legal	ADJ
cjfa-10416	46	85	problems	problem	NOUN
cjfa-10416	46	86	(	(	PUNCT
cjfa-10416	46	87	monopoly	monopoly	NOUN
cjfa-10416	46	88	)	)	PUNCT
cjfa-10416	46	89	–	–	PUNCT
cjfa-10416	46	90	competitive	competitive	ADJ
cjfa-10416	46	91	disadvantage	disadvantage	NOUN
cjfa-10416	46	92	s	s	PART
cjfa-10416	46	93	o	o	NOUN
cjfa-10416	46	94	u	u	NOUN
cjfa-10416	46	95	r	r	NOUN
cjfa-10416	46	96	c	c	NOUN
cjfa-10416	46	97	e	e	NOUN
cjfa-10416	46	98	:	:	PUNCT
cjfa-10416	46	99	elaboration	elaboration	NOUN
cjfa-10416	46	100	of	of	ADP
cjfa-10416	46	101	the	the	DET
cjfa-10416	46	102	author	author	NOUN
cjfa-10416	46	103	.	.	PUNCT
cjfa-10416	47	1	the	the	DET
cjfa-10416	47	2	conglomerated	conglomerate	VERB
cjfa-10416	47	3	acquisition	acquisition	NOUN
cjfa-10416	47	4	occurs	occur	VERB
cjfa-10416	47	5	when	when	SCONJ
cjfa-10416	47	6	a	a	DET
cjfa-10416	47	7	company	company	NOUN
cjfa-10416	47	8	acquires	acquire	VERB
cjfa-10416	47	9	another	another	DET
cjfa-10416	47	10	one	one	NOUN
cjfa-10416	47	11	,	,	PUNCT
cjfa-10416	47	12	which	which	PRON
cjfa-10416	47	13	operates	operate	VERB
cjfa-10416	47	14	and	and	CCONJ
cjfa-10416	47	15	is	be	AUX
cjfa-10416	47	16	in	in	ADP
cjfa-10416	47	17	a	a	DET
cjfa-10416	47	18	completely	completely	ADV
cjfa-10416	47	19	different	different	ADJ
cjfa-10416	47	20	industry	industry	NOUN
cjfa-10416	47	21	,	,	PUNCT
cjfa-10416	47	22	providing	provide	VERB
cjfa-10416	47	23	conditions	condition	NOUN
cjfa-10416	47	24	to	to	PART
cjfa-10416	47	25	diversify	diversify	VERB
cjfa-10416	47	26	the	the	DET
cjfa-10416	47	27	risk	risk	NOUN
cjfa-10416	47	28	and	and	CCONJ
cjfa-10416	47	29	market	market	NOUN
cjfa-10416	47	30	exposure	exposure	NOUN
cjfa-10416	47	31	,	,	PUNCT
cjfa-10416	47	32	as	as	ADV
cjfa-10416	47	33	well	well	ADV
cjfa-10416	47	34	as	as	ADP
cjfa-10416	47	35	to	to	PART
cjfa-10416	47	36	build	build	VERB
cjfa-10416	47	37	entirely	entirely	ADV
cjfa-10416	47	38	independent	independent	ADJ
cjfa-10416	47	39	business	business	NOUN
cjfa-10416	47	40	groups	group	NOUN
cjfa-10416	47	41	from	from	ADP
cjfa-10416	47	42	one	one	NUM
cjfa-10416	47	43	another	another	PRON
cjfa-10416	47	44	(	(	PUNCT
cjfa-10416	47	45	herger	herger	NOUN
cjfa-10416	47	46	&	&	CCONJ
cjfa-10416	47	47	mccorriston	mccorriston	NOUN
cjfa-10416	47	48	2013	2013	NUM
cjfa-10416	47	49	)	)	PUNCT
cjfa-10416	47	50	.	.	PUNCT
cjfa-10416	48	1	hostile	hostile	ADJ
cjfa-10416	48	2	takeover	takeover	NOUN
cjfa-10416	48	3	this	this	DET
cjfa-10416	48	4	operation	operation	NOUN
cjfa-10416	48	5	occurs	occur	VERB
cjfa-10416	48	6	when	when	SCONJ
cjfa-10416	48	7	the	the	DET
cjfa-10416	48	8	decision	decision	NOUN
cjfa-10416	48	9	of	of	ADP
cjfa-10416	48	10	the	the	DET
cjfa-10416	48	11	acquiring	acquire	VERB
cjfa-10416	48	12	company	company	NOUN
cjfa-10416	48	13	goes	go	VERB
cjfa-10416	48	14	against	against	ADP
cjfa-10416	48	15	the	the	DET
cjfa-10416	48	16	will	will	NOUN
cjfa-10416	48	17	and	and	CCONJ
cjfa-10416	48	18	desire	desire	NOUN
cjfa-10416	48	19	of	of	ADP
cjfa-10416	48	20	the	the	DET
cjfa-10416	48	21	target	target	NOUN
cjfa-10416	48	22	company	company	NOUN
cjfa-10416	48	23	’s	’s	PART
cjfa-10416	48	24	management	management	NOUN
cjfa-10416	48	25	(	(	PUNCT
cjfa-10416	48	26	johansson	johansson	PROPN
cjfa-10416	48	27	&	&	CCONJ
cjfa-10416	48	28	torstensson	torstensson	PROPN
cjfa-10416	48	29	2008	2008	NUM
cjfa-10416	48	30	)	)	PUNCT
cjfa-10416	48	31	.	.	PUNCT
cjfa-10416	49	1	it	it	PRON
cjfa-10416	49	2	can	can	AUX
cjfa-10416	49	3	also	also	ADV
cjfa-10416	49	4	be	be	AUX
cjfa-10416	49	5	considered	consider	VERB
cjfa-10416	49	6	as	as	ADP
cjfa-10416	49	7	hostile	hostile	ADJ
cjfa-10416	49	8	when	when	SCONJ
cjfa-10416	49	9	the	the	DET
cjfa-10416	49	10	bid	bid	NOUN
cjfa-10416	49	11	is	be	AUX
cjfa-10416	49	12	disclosed	disclose	VERB
cjfa-10416	49	13	without	without	ADP
cjfa-10416	49	14	report	report	NOUN
cjfa-10416	49	15	to	to	ADP
cjfa-10416	49	16	the	the	DET
cjfa-10416	49	17	board	board	NOUN
cjfa-10416	49	18	of	of	ADP
cjfa-10416	49	19	directors	director	NOUN
cjfa-10416	49	20	of	of	ADP
cjfa-10416	49	21	the	the	DET
cjfa-10416	49	22	target	target	NOUN
cjfa-10416	49	23	company	company	NOUN
cjfa-10416	49	24	and	and	CCONJ
cjfa-10416	49	25	is	be	AUX
cjfa-10416	49	26	directly	directly	ADV
cjfa-10416	49	27	disclosed	disclose	VERB
cjfa-10416	49	28	to	to	ADP
cjfa-10416	49	29	the	the	DET
cjfa-10416	49	30	shareholders	shareholder	NOUN
cjfa-10416	49	31	.	.	PUNCT
cjfa-10416	50	1	usually	usually	ADV
cjfa-10416	50	2	,	,	PUNCT
cjfa-10416	50	3	the	the	DET
cjfa-10416	50	4	hostile	hostile	ADJ
cjfa-10416	50	5	bids	bid	NOUN
cjfa-10416	50	6	want	want	VERB
cjfa-10416	50	7	to	to	PART
cjfa-10416	50	8	gain	gain	VERB
cjfa-10416	50	9	the	the	DET
cjfa-10416	50	10	shareholder	shareholder	NOUN
cjfa-10416	50	11	power	power	NOUN
cjfa-10416	50	12	of	of	ADP
cjfa-10416	50	13	the	the	DET
cjfa-10416	50	14	target	target	NOUN
cjfa-10416	50	15	company	company	NOUN
cjfa-10416	50	16	and	and	CCONJ
cjfa-10416	50	17	,	,	PUNCT
cjfa-10416	50	18	most	most	ADJ
cjfa-10416	50	19	of	of	ADP
cjfa-10416	50	20	the	the	DET
cjfa-10416	50	21	times	time	NOUN
cjfa-10416	50	22	,	,	PUNCT
cjfa-10416	50	23	a	a	DET
cjfa-10416	50	24	friendly	friendly	ADJ
cjfa-10416	50	25	bid	bid	NOUN
cjfa-10416	50	26	may	may	AUX
cjfa-10416	50	27	become	become	VERB
cjfa-10416	50	28	hostile	hostile	ADJ
cjfa-10416	50	29	(	(	PUNCT
cjfa-10416	50	30	zarin	zarin	PROPN
cjfa-10416	50	31	&	&	CCONJ
cjfa-10416	50	32	yang	yang	PROPN
cjfa-10416	50	33	2007	2007	NUM
cjfa-10416	50	34	)	)	PUNCT
cjfa-10416	50	35	.	.	PUNCT
cjfa-10416	51	1	it	it	PRON
cjfa-10416	51	2	can	can	AUX
cjfa-10416	51	3	also	also	ADV
cjfa-10416	51	4	occur	occur	VERB
cjfa-10416	51	5	the	the	DET
cjfa-10416	51	6	opposite	opposite	ADJ
cjfa-10416	51	7	situation	situation	NOUN
cjfa-10416	51	8	,	,	PUNCT
cjfa-10416	51	9	taking	take	VERB
cjfa-10416	51	10	into	into	ADP
cjfa-10416	51	11	account	account	NOUN
cjfa-10416	51	12	the	the	DET
cjfa-10416	51	13	negotiation	negotiation	NOUN
cjfa-10416	51	14	process	process	NOUN
cjfa-10416	51	15	,	,	PUNCT
cjfa-10416	51	16	in	in	ADP
cjfa-10416	51	17	which	which	PRON
cjfa-10416	51	18	a	a	DET
cjfa-10416	51	19	hostile	hostile	ADJ
cjfa-10416	51	20	bid	bid	NOUN
cjfa-10416	51	21	may	may	AUX
cjfa-10416	51	22	become	become	VERB
cjfa-10416	51	23	a	a	DET
cjfa-10416	51	24	friendly	friendly	ADJ
cjfa-10416	51	25	one	one	NOUN
cjfa-10416	51	26	(	(	PUNCT
cjfa-10416	51	27	schwert	schwert	NOUN
cjfa-10416	51	28	2000	2000	NUM
cjfa-10416	51	29	)	)	PUNCT
cjfa-10416	51	30	usually	usually	ADV
cjfa-10416	51	31	,	,	PUNCT
cjfa-10416	51	32	a	a	DET
cjfa-10416	51	33	friendly	friendly	ADJ
cjfa-10416	51	34	bid	bid	NOUN
cjfa-10416	51	35	is	be	AUX
cjfa-10416	51	36	preferred	prefer	VERB
cjfa-10416	51	37	by	by	ADP
cjfa-10416	51	38	the	the	DET
cjfa-10416	51	39	acquiring	acquire	VERB
cjfa-10416	51	40	company	company	NOUN
cjfa-10416	51	41	,	,	PUNCT
cjfa-10416	51	42	because	because	SCONJ
cjfa-10416	51	43	it	it	PRON
cjfa-10416	51	44	results	result	VERB
cjfa-10416	51	45	in	in	ADP
cjfa-10416	51	46	a	a	DET
cjfa-10416	51	47	much	much	ADJ
cjfa-10416	51	48	inferior	inferior	ADJ
cjfa-10416	51	49	cost	cost	NOUN
cjfa-10416	51	50	,	,	PUNCT
cjfa-10416	51	51	globally	globally	ADV
cjfa-10416	51	52	.	.	PUNCT
cjfa-10416	52	1	moreover	moreover	ADV
cjfa-10416	52	2	,	,	PUNCT
cjfa-10416	52	3	the	the	DET
cjfa-10416	52	4	acquiring	acquire	VERB
cjfa-10416	52	5	company	company	NOUN
cjfa-10416	52	6	will	will	AUX
cjfa-10416	52	7	also	also	ADV
cjfa-10416	52	8	face	face	VERB
cjfa-10416	52	9	a	a	DET
cjfa-10416	52	10	weaker	weak	ADJ
cjfa-10416	52	11	opposition	opposition	NOUN
cjfa-10416	52	12	in	in	ADP
cjfa-10416	52	13	the	the	DET
cjfa-10416	52	14	negotiation	negotiation	NOUN
cjfa-10416	52	15	process	process	NOUN
cjfa-10416	52	16	,	,	PUNCT
cjfa-10416	52	17	but	but	CCONJ
cjfa-10416	52	18	also	also	ADV
cjfa-10416	52	19	a	a	DET
cjfa-10416	52	20	weaker	weak	ADJ
cjfa-10416	52	21	opposition	opposition	NOUN
cjfa-10416	52	22	by	by	ADP
cjfa-10416	52	23	the	the	DET
cjfa-10416	52	24	market	market	NOUN
cjfa-10416	52	25	,	,	PUNCT
cjfa-10416	52	26	facing	face	VERB
cjfa-10416	52	27	also	also	ADV
cjfa-10416	52	28	less	less	ADV
cjfa-10416	52	29	legal	legal	ADJ
cjfa-10416	52	30	problems	problem	NOUN
cjfa-10416	52	31	.	.	PUNCT
cjfa-10416	53	1	the	the	DET
cjfa-10416	53	2	impact	impact	NOUN
cjfa-10416	53	3	of	of	ADP
cjfa-10416	53	4	the	the	DET
cjfa-10416	53	5	preliminary	preliminary	ADJ
cjfa-10416	53	6	announcement	announcement	NOUN
cjfa-10416	53	7	…	…	PUNCT
cjfa-10416	53	8	43	43	NUM
cjfa-10416	53	9	considering	consider	VERB
cjfa-10416	53	10	that	that	SCONJ
cjfa-10416	53	11	hostile	hostile	ADJ
cjfa-10416	53	12	takeovers	takeover	NOUN
cjfa-10416	53	13	are	be	AUX
cjfa-10416	53	14	,	,	PUNCT
cjfa-10416	53	15	sometimes	sometimes	ADV
cjfa-10416	53	16	,	,	PUNCT
cjfa-10416	53	17	true	true	ADJ
cjfa-10416	53	18	dilemmas	dilemma	NOUN
cjfa-10416	53	19	for	for	ADP
cjfa-10416	53	20	the	the	DET
cjfa-10416	53	21	companies	company	NOUN
cjfa-10416	53	22	,	,	PUNCT
cjfa-10416	53	23	because	because	SCONJ
cjfa-10416	53	24	they	they	PRON
cjfa-10416	53	25	can	can	AUX
cjfa-10416	53	26	have	have	VERB
cjfa-10416	53	27	positive	positive	ADJ
cjfa-10416	53	28	and	and	CCONJ
cjfa-10416	53	29	negative	negative	ADJ
cjfa-10416	53	30	effects	effect	NOUN
cjfa-10416	53	31	,	,	PUNCT
cjfa-10416	53	32	the	the	DET
cjfa-10416	53	33	impact	impact	NOUN
cjfa-10416	53	34	of	of	ADP
cjfa-10416	53	35	these	these	DET
cjfa-10416	53	36	business	business	NOUN
cjfa-10416	53	37	operations	operation	NOUN
cjfa-10416	53	38	become	become	VERB
cjfa-10416	53	39	quite	quite	ADV
cjfa-10416	53	40	difficult	difficult	ADJ
cjfa-10416	53	41	to	to	PART
cjfa-10416	53	42	calculate	calculate	VERB
cjfa-10416	53	43	.	.	PUNCT
cjfa-10416	54	1	zarin	zarin	PROPN
cjfa-10416	54	2	and	and	CCONJ
cjfa-10416	54	3	yang	yang	PROPN
cjfa-10416	54	4	(	(	PUNCT
cjfa-10416	54	5	2007	2007	NUM
cjfa-10416	54	6	)	)	PUNCT
cjfa-10416	54	7	point	point	NOUN
cjfa-10416	54	8	that	that	SCONJ
cjfa-10416	54	9	an	an	DET
cjfa-10416	54	10	undervalued	undervalued	ADJ
cjfa-10416	54	11	company	company	NOUN
cjfa-10416	54	12	,	,	PUNCT
cjfa-10416	54	13	due	due	ADP
cjfa-10416	54	14	to	to	ADP
cjfa-10416	54	15	management	management	NOUN
cjfa-10416	54	16	inefficiencies	inefficiency	NOUN
cjfa-10416	54	17	or	or	CCONJ
cjfa-10416	54	18	low	low	ADJ
cjfa-10416	54	19	stock	stock	NOUN
cjfa-10416	54	20	value	value	NOUN
cjfa-10416	54	21	,	,	PUNCT
cjfa-10416	54	22	may	may	AUX
cjfa-10416	54	23	be	be	AUX
cjfa-10416	54	24	the	the	DET
cjfa-10416	54	25	target	target	NOUN
cjfa-10416	54	26	of	of	ADP
cjfa-10416	54	27	hostile	hostile	ADJ
cjfa-10416	54	28	takeovers	takeover	NOUN
cjfa-10416	54	29	.	.	PUNCT
cjfa-10416	55	1	these	these	DET
cjfa-10416	55	2	bids	bid	NOUN
cjfa-10416	55	3	usually	usually	ADV
cjfa-10416	55	4	involve	involve	VERB
cjfa-10416	55	5	the	the	DET
cjfa-10416	55	6	management	management	NOUN
cjfa-10416	55	7	’s	’s	PART
cjfa-10416	55	8	substitution	substitution	NOUN
cjfa-10416	55	9	and	and	CCONJ
cjfa-10416	55	10	the	the	DET
cjfa-10416	55	11	implementation	implementation	NOUN
cjfa-10416	55	12	of	of	ADP
cjfa-10416	55	13	strategies	strategy	NOUN
cjfa-10416	55	14	that	that	PRON
cjfa-10416	55	15	may	may	AUX
cjfa-10416	55	16	value	value	VERB
cjfa-10416	55	17	the	the	DET
cjfa-10416	55	18	company	company	NOUN
cjfa-10416	55	19	,	,	PUNCT
cjfa-10416	55	20	benefiting	benefit	VERB
cjfa-10416	55	21	the	the	DET
cjfa-10416	55	22	company	company	NOUN
cjfa-10416	55	23	’s	’s	PART
cjfa-10416	55	24	shareholders	shareholder	NOUN
cjfa-10416	55	25	.	.	PUNCT
cjfa-10416	56	1	on	on	ADP
cjfa-10416	56	2	the	the	DET
cjfa-10416	56	3	other	other	ADJ
cjfa-10416	56	4	hand	hand	NOUN
cjfa-10416	56	5	,	,	PUNCT
cjfa-10416	56	6	the	the	DET
cjfa-10416	56	7	use	use	NOUN
cjfa-10416	56	8	of	of	ADP
cjfa-10416	56	9	a	a	DET
cjfa-10416	56	10	defense	defense	NOUN
cjfa-10416	56	11	strategy	strategy	NOUN
cjfa-10416	56	12	against	against	ADP
cjfa-10416	56	13	that	that	DET
cjfa-10416	56	14	bid	bid	NOUN
cjfa-10416	56	15	may	may	AUX
cjfa-10416	56	16	provoke	provoke	VERB
cjfa-10416	56	17	damaging	damaging	ADJ
cjfa-10416	56	18	effects	effect	NOUN
cjfa-10416	56	19	to	to	ADP
cjfa-10416	56	20	the	the	DET
cjfa-10416	56	21	target	target	NOUN
cjfa-10416	56	22	company	company	NOUN
cjfa-10416	56	23	and	and	CCONJ
cjfa-10416	56	24	its	its	PRON
cjfa-10416	56	25	shareholders	shareholder	NOUN
cjfa-10416	56	26	,	,	PUNCT
cjfa-10416	56	27	reflecting	reflect	VERB
cjfa-10416	56	28	that	that	DET
cjfa-10416	56	29	action	action	NOUN
cjfa-10416	56	30	on	on	ADP
cjfa-10416	56	31	the	the	DET
cjfa-10416	56	32	company	company	NOUN
cjfa-10416	56	33	’s	’s	PART
cjfa-10416	56	34	stock	stock	NOUN
cjfa-10416	56	35	value	value	NOUN
cjfa-10416	56	36	.	.	PUNCT
cjfa-10416	57	1	table	table	NOUN
cjfa-10416	57	2	2	2	NUM
cjfa-10416	57	3	.	.	PUNCT
cjfa-10416	57	4	arguments	argument	NOUN
cjfa-10416	57	5	for	for	ADP
cjfa-10416	57	6	and	and	CCONJ
cjfa-10416	57	7	against	against	ADP
cjfa-10416	57	8	hostile	hostile	ADJ
cjfa-10416	57	9	takeovers	takeover	NOUN
cjfa-10416	57	10	arguments	argument	NOUN
cjfa-10416	57	11	authors	author	NOUN
cjfa-10416	57	12	for	for	ADP
cjfa-10416	57	13	against	against	ADP
cjfa-10416	57	14	steinbächer	steinbächer	ADJ
cjfa-10416	57	15	(	(	PUNCT
cjfa-10416	57	16	2007	2007	NUM
cjfa-10416	57	17	)	)	PUNCT
cjfa-10416	57	18	–	–	PUNCT
cjfa-10416	57	19	synergies	synergy	NOUN
cjfa-10416	57	20	effect	effect	NOUN
cjfa-10416	57	21	–	–	PUNCT
cjfa-10416	57	22	undervalued	undervalued	ADJ
cjfa-10416	57	23	target	target	NOUN
cjfa-10416	57	24	company	company	NOUN
cjfa-10416	57	25	–	–	PUNCT
cjfa-10416	57	26	market	market	NOUN
cjfa-10416	57	27	share	share	NOUN
cjfa-10416	57	28	–	–	PUNCT
cjfa-10416	57	29	bid	bid	VERB
cjfa-10416	57	30	’s	’s	PART
cjfa-10416	57	31	impact	impact	NOUN
cjfa-10416	57	32	on	on	ADP
cjfa-10416	57	33	the	the	DET
cjfa-10416	57	34	target	target	NOUN
cjfa-10416	57	35	company	company	NOUN
cjfa-10416	57	36	’s	’s	PART
cjfa-10416	57	37	management	management	NOUN
cjfa-10416	57	38	–	–	PUNCT
cjfa-10416	57	39	possibility	possibility	NOUN
cjfa-10416	57	40	of	of	ADP
cjfa-10416	57	41	occurring	occur	VERB
cjfa-10416	57	42	a	a	DET
cjfa-10416	57	43	management	management	NOUN
cjfa-10416	57	44	entrenchment	entrenchment	NOUN
cjfa-10416	57	45	*	*	PUNCT
cjfa-10416	57	46	situation	situation	NOUN
cjfa-10416	57	47	.	.	PUNCT
cjfa-10416	58	1	demidova	demidova	PROPN
cjfa-10416	58	2	(	(	PUNCT
cjfa-10416	58	3	2007	2007	NUM
cjfa-10416	58	4	)	)	PUNCT
cjfa-10416	58	5	–	–	PUNCT
cjfa-10416	58	6	market	market	NOUN
cjfa-10416	58	7	development	development	NOUN
cjfa-10416	58	8	via	via	ADP
cjfa-10416	58	9	companies	company	NOUN
cjfa-10416	58	10	control	control	VERB
cjfa-10416	58	11	carvalho	carvalho	PROPN
cjfa-10416	58	12	(	(	PUNCT
cjfa-10416	58	13	2012	2012	NUM
cjfa-10416	58	14	)	)	PUNCT
cjfa-10416	58	15	–	–	PUNCT
cjfa-10416	58	16	creation	creation	NOUN
cjfa-10416	58	17	of	of	ADP
cjfa-10416	58	18	negative	negative	ADJ
cjfa-10416	58	19	externalities	externality	NOUN
cjfa-10416	58	20	–	–	PUNCT
cjfa-10416	58	21	deterioration	deterioration	NOUN
cjfa-10416	58	22	of	of	ADP
cjfa-10416	58	23	the	the	DET
cjfa-10416	58	24	other	other	ADJ
cjfa-10416	58	25	interests	interest	NOUN
cjfa-10416	58	26	of	of	ADP
cjfa-10416	58	27	stakeholders	stakeholder	NOUN
cjfa-10416	58	28	–	–	PUNCT
cjfa-10416	58	29	loss	loss	NOUN
cjfa-10416	58	30	of	of	ADP
cjfa-10416	58	31	welfare	welfare	NOUN
cjfa-10416	58	32	.	.	PUNCT
cjfa-10416	59	1	jensen	jensen	PROPN
cjfa-10416	59	2	e	e	PROPN
cjfa-10416	59	3	ruback	ruback	NOUN
cjfa-10416	59	4	(	(	PUNCT
cjfa-10416	59	5	1983	1983	NUM
cjfa-10416	59	6	)	)	PUNCT
cjfa-10416	59	7	–	–	PUNCT
cjfa-10416	59	8	reduction	reduction	NOUN
cjfa-10416	59	9	of	of	ADP
cjfa-10416	59	10	agency	agency	NOUN
cjfa-10416	59	11	costs	cost	NOUN
cjfa-10416	59	12	–	–	PUNCT
cjfa-10416	59	13	creation	creation	NOUN
cjfa-10416	59	14	of	of	ADP
cjfa-10416	59	15	economies	economy	NOUN
cjfa-10416	59	16	of	of	ADP
cjfa-10416	59	17	scale	scale	NOUN
cjfa-10416	59	18	–	–	PUNCT
cjfa-10416	59	19	greater	great	ADJ
cjfa-10416	59	20	efficiency	efficiency	NOUN
cjfa-10416	59	21	martynova	martynova	NOUN
cjfa-10416	59	22	and	and	CCONJ
cjfa-10416	59	23	renneboog	renneboog	NOUN
cjfa-10416	59	24	(	(	PUNCT
cjfa-10416	59	25	2006	2006	NUM
cjfa-10416	59	26	)	)	PUNCT
cjfa-10416	59	27	–	–	PUNCT
cjfa-10416	59	28	cost	cost	NOUN
cjfa-10416	59	29	-	-	PUNCT
cjfa-10416	59	30	reduction	reduction	NOUN
cjfa-10416	59	31	–	–	PUNCT
cjfa-10416	59	32	exploitation	exploitation	NOUN
cjfa-10416	59	33	of	of	ADP
cjfa-10416	59	34	new	new	ADJ
cjfa-10416	59	35	markets	market	NOUN
cjfa-10416	59	36	depamphilis	depamphili	NOUN
cjfa-10416	59	37	(	(	PUNCT
cjfa-10416	59	38	2010	2010	NUM
cjfa-10416	59	39	,	,	PUNCT
cjfa-10416	59	40	2011	2011	NUM
cjfa-10416	59	41	)	)	PUNCT
cjfa-10416	59	42	–	–	PUNCT
cjfa-10416	59	43	surprise	surprise	NOUN
cjfa-10416	59	44	-	-	PUNCT
cjfa-10416	59	45	effect	effect	NOUN
cjfa-10416	59	46	–	–	PUNCT
cjfa-10416	59	47	increase	increase	NOUN
cjfa-10416	59	48	of	of	ADP
cjfa-10416	59	49	acquisition	acquisition	NOUN
cjfa-10416	59	50	costs	cost	NOUN
cjfa-10416	59	51	–	–	PUNCT
cjfa-10416	59	52	creation	creation	NOUN
cjfa-10416	59	53	of	of	ADP
cjfa-10416	59	54	an	an	DET
cjfa-10416	59	55	“	"	PUNCT
cjfa-10416	59	56	auction	auction	NOUN
cjfa-10416	59	57	”	"	PUNCT
cjfa-10416	59	58	environment	environment	NOUN
cjfa-10416	59	59	–	–	PUNCT
cjfa-10416	59	60	board	board	NOUN
cjfa-10416	59	61	of	of	ADP
cjfa-10416	59	62	directors	director	NOUN
cjfa-10416	59	63	’	’	PART
cjfa-10416	59	64	structure	structure	NOUN
cjfa-10416	59	65	–	–	PUNCT
cjfa-10416	59	66	integration	integration	NOUN
cjfa-10416	59	67	process	process	NOUN
cjfa-10416	59	68	gaspar	gaspar	NOUN
cjfa-10416	59	69	and	and	CCONJ
cjfa-10416	59	70	matos	matos	PROPN
cjfa-10416	59	71	(	(	PUNCT
cjfa-10416	59	72	2005	2005	NUM
cjfa-10416	59	73	)	)	PUNCT
cjfa-10416	59	74	–	–	PUNCT
cjfa-10416	59	75	low	low	ADJ
cjfa-10416	59	76	degree	degree	NOUN
cjfa-10416	59	77	of	of	ADP
cjfa-10416	59	78	compromise	compromise	NOUN
cjfa-10416	59	79	by	by	ADP
cjfa-10416	59	80	an	an	DET
cjfa-10416	59	81	investor	investor	NOUN
cjfa-10416	59	82	*	*	PUNCT
cjfa-10416	59	83	  	  	SPACE
cjfa-10416	59	84	the	the	DET
cjfa-10416	59	85	protection	protection	NOUN
cjfa-10416	59	86	of	of	ADP
cjfa-10416	59	87	the	the	DET
cjfa-10416	59	88	manager	manager	NOUN
cjfa-10416	59	89	’s	’s	PART
cjfa-10416	59	90	own	own	ADJ
cjfa-10416	59	91	interest	interest	NOUN
cjfa-10416	59	92	is	be	AUX
cjfa-10416	59	93	the	the	DET
cjfa-10416	59	94	most	most	ADV
cjfa-10416	59	95	evident	evident	ADJ
cjfa-10416	59	96	characteristic	characteristic	NOUN
cjfa-10416	59	97	of	of	ADP
cjfa-10416	59	98	this	this	DET
cjfa-10416	59	99	theory	theory	NOUN
cjfa-10416	59	100	.	.	PUNCT
cjfa-10416	60	1	this	this	DET
cjfa-10416	60	2	situation	situation	NOUN
cjfa-10416	60	3	might	might	AUX
cjfa-10416	60	4	occur	occur	VERB
cjfa-10416	60	5	when	when	SCONJ
cjfa-10416	60	6	the	the	DET
cjfa-10416	60	7	management	management	NOUN
cjfa-10416	60	8	of	of	ADP
cjfa-10416	60	9	the	the	DET
cjfa-10416	60	10	target	target	NOUN
cjfa-10416	60	11	company	company	NOUN
cjfa-10416	60	12	tries	try	VERB
cjfa-10416	60	13	to	to	PART
cjfa-10416	60	14	turn	turn	VERB
cjfa-10416	60	15	its	its	PRON
cjfa-10416	60	16	own	own	ADJ
cjfa-10416	60	17	company	company	NOUN
cjfa-10416	60	18	into	into	ADP
cjfa-10416	60	19	a	a	DET
cjfa-10416	60	20	less	less	ADV
cjfa-10416	60	21	attractive	attractive	ADJ
cjfa-10416	60	22	acquisition	acquisition	NOUN
cjfa-10416	60	23	for	for	ADP
cjfa-10416	60	24	the	the	DET
cjfa-10416	60	25	acquiring	acquire	VERB
cjfa-10416	60	26	company	company	NOUN
cjfa-10416	60	27	,	,	PUNCT
cjfa-10416	60	28	by	by	ADP
cjfa-10416	60	29	the	the	DET
cjfa-10416	60	30	use	use	NOUN
cjfa-10416	60	31	of	of	ADP
cjfa-10416	60	32	a	a	DET
cjfa-10416	60	33	poison	poison	NOUN
cjfa-10416	60	34	pill	pill	NOUN
cjfa-10416	60	35	,	,	PUNCT
cjfa-10416	60	36	for	for	ADP
cjfa-10416	60	37	example	example	NOUN
cjfa-10416	60	38	,	,	PUNCT
cjfa-10416	60	39	or	or	CCONJ
cjfa-10416	60	40	by	by	ADP
cjfa-10416	60	41	preventing	prevent	VERB
cjfa-10416	60	42	the	the	DET
cjfa-10416	60	43	bid	bid	NOUN
cjfa-10416	60	44	to	to	PART
cjfa-10416	60	45	be	be	AUX
cjfa-10416	60	46	disclosed	disclose	VERB
cjfa-10416	60	47	to	to	ADP
cjfa-10416	60	48	the	the	DET
cjfa-10416	60	49	stockholders	stockholder	NOUN
cjfa-10416	60	50	by	by	ADP
cjfa-10416	60	51	simply	simply	ADV
cjfa-10416	60	52	rejecting	reject	VERB
cjfa-10416	60	53	that	that	DET
cjfa-10416	60	54	same	same	ADJ
cjfa-10416	60	55	bid	bid	NOUN
cjfa-10416	60	56	(	(	PUNCT
cjfa-10416	60	57	smadja	smadja	NOUN
cjfa-10416	60	58	2008	2008	NUM
cjfa-10416	60	59	)	)	PUNCT
cjfa-10416	60	60	.	.	PUNCT
cjfa-10416	61	1	on	on	ADP
cjfa-10416	61	2	the	the	DET
cjfa-10416	61	3	other	other	ADJ
cjfa-10416	61	4	hand	hand	NOUN
cjfa-10416	61	5	,	,	PUNCT
cjfa-10416	61	6	shareholder	shareholder	NOUN
cjfa-10416	61	7	interest	interest	NOUN
cjfa-10416	61	8	theory	theory	NOUN
cjfa-10416	61	9	has	have	VERB
cjfa-10416	61	10	the	the	DET
cjfa-10416	61	11	objective	objective	NOUN
cjfa-10416	61	12	of	of	ADP
cjfa-10416	61	13	increasing	increase	VERB
cjfa-10416	61	14	the	the	DET
cjfa-10416	61	15	stockholders	stockholder	NOUN
cjfa-10416	61	16	’	’	PART
cjfa-10416	61	17	wealth	wealth	NOUN
cjfa-10416	61	18	during	during	ADP
cjfa-10416	61	19	the	the	DET
cjfa-10416	61	20	acquisition	acquisition	NOUN
cjfa-10416	61	21	process	process	NOUN
cjfa-10416	61	22	,	,	PUNCT
cjfa-10416	61	23	something	something	PRON
cjfa-10416	61	24	possible	possible	ADJ
cjfa-10416	61	25	by	by	ADP
cjfa-10416	61	26	the	the	DET
cjfa-10416	61	27	retraction	retraction	NOUN
cjfa-10416	61	28	on	on	ADP
cjfa-10416	61	29	defense	defense	NOUN
cjfa-10416	61	30	’	'	PUNCT
cjfa-10416	61	31	costs	cost	NOUN
cjfa-10416	61	32	and	and	CCONJ
cjfa-10416	61	33	by	by	ADP
cjfa-10416	61	34	reaffirming	reaffirm	VERB
cjfa-10416	61	35	that	that	SCONJ
cjfa-10416	61	36	the	the	DET
cjfa-10416	61	37	management	management	NOUN
cjfa-10416	61	38	wo	will	AUX
cjfa-10416	61	39	n’t	not	PART
cjfa-10416	61	40	disable	disable	VERB
cjfa-10416	61	41	any	any	PRON
cjfa-10416	61	42	of	of	ADP
cjfa-10416	61	43	the	the	DET
cjfa-10416	61	44	defense	defense	NOUN
cjfa-10416	61	45	strategies	strategy	NOUN
cjfa-10416	61	46	used	use	VERB
cjfa-10416	61	47	,	,	PUNCT
cjfa-10416	61	48	while	while	SCONJ
cjfa-10416	61	49	the	the	DET
cjfa-10416	61	50	bid	bid	NOUN
cjfa-10416	61	51	does	do	AUX
cjfa-10416	61	52	n’t	not	PART
cjfa-10416	61	53	comply	comply	VERB
cjfa-10416	61	54	with	with	ADP
cjfa-10416	61	55	the	the	DET
cjfa-10416	61	56	shareholder	shareholder	NOUN
cjfa-10416	61	57	interest	interest	NOUN
cjfa-10416	61	58	(	(	PUNCT
cjfa-10416	61	59	gaughan	gaughan	NOUN
cjfa-10416	61	60	2007	2007	NUM
cjfa-10416	61	61	)	)	PUNCT
cjfa-10416	61	62	.	.	PUNCT
cjfa-10416	62	1	s	s	PART
cjfa-10416	62	2	o	o	X
cjfa-10416	62	3	u	u	NOUN
cjfa-10416	62	4	r	r	NOUN
cjfa-10416	62	5	c	c	NOUN
cjfa-10416	62	6	e	e	NOUN
cjfa-10416	62	7	:	:	PUNCT
cjfa-10416	62	8	elaboration	elaboration	NOUN
cjfa-10416	62	9	of	of	ADP
cjfa-10416	62	10	the	the	DET
cjfa-10416	62	11	author	author	NOUN
cjfa-10416	62	12	.	.	PUNCT
cjfa-10416	63	1	joão	joão	PROPN
cjfa-10416	63	2	paulo	paulo	PROPN
cjfa-10416	63	3	braga	braga	PROPN
cjfa-10416	63	4	,	,	PUNCT
cjfa-10416	63	5	luís	luís	PROPN
cjfa-10416	63	6	m.	m.	PROPN
cjfa-10416	63	7	pereira	pereira	PROPN
cjfa-10416	63	8	gomes44	gomes44	VERB
cjfa-10416	63	9	corporate	corporate	ADJ
cjfa-10416	63	10	governance	governance	NOUN
cjfa-10416	63	11	and	and	CCONJ
cjfa-10416	63	12	agency	agency	NOUN
cjfa-10416	63	13	theory	theory	NOUN
cjfa-10416	63	14	a	a	DET
cjfa-10416	63	15	relevant	relevant	ADJ
cjfa-10416	63	16	theme	theme	NOUN
cjfa-10416	63	17	in	in	ADP
cjfa-10416	63	18	the	the	DET
cjfa-10416	63	19	acquisition	acquisition	NOUN
cjfa-10416	63	20	business	business	NOUN
cjfa-10416	63	21	operation	operation	NOUN
cjfa-10416	63	22	is	be	AUX
cjfa-10416	63	23	the	the	DET
cjfa-10416	63	24	definition	definition	NOUN
cjfa-10416	63	25	of	of	ADP
cjfa-10416	63	26	corporate	corporate	ADJ
cjfa-10416	63	27	governance	governance	NOUN
cjfa-10416	63	28	.	.	PUNCT
cjfa-10416	64	1	but	but	CCONJ
cjfa-10416	64	2	before	before	ADP
cjfa-10416	64	3	exploiting	exploit	VERB
cjfa-10416	64	4	that	that	DET
cjfa-10416	64	5	definition	definition	NOUN
cjfa-10416	64	6	,	,	PUNCT
cjfa-10416	64	7	there	there	PRON
cjfa-10416	64	8	is	be	VERB
cjfa-10416	64	9	a	a	DET
cjfa-10416	64	10	necessity	necessity	NOUN
cjfa-10416	64	11	to	to	PART
cjfa-10416	64	12	explain	explain	VERB
cjfa-10416	64	13	what	what	PRON
cjfa-10416	64	14	it	it	PRON
cjfa-10416	64	15	is	be	AUX
cjfa-10416	64	16	agency	agency	NOUN
cjfa-10416	64	17	theory	theory	NOUN
cjfa-10416	64	18	,	,	PUNCT
cjfa-10416	64	19	two	two	NUM
cjfa-10416	64	20	very	very	ADV
cjfa-10416	64	21	connected	connected	ADJ
cjfa-10416	64	22	themes	theme	NOUN
cjfa-10416	64	23	that	that	PRON
cjfa-10416	64	24	have	have	AUX
cjfa-10416	64	25	been	be	AUX
cjfa-10416	64	26	studied	study	VERB
cjfa-10416	64	27	by	by	ADP
cjfa-10416	64	28	the	the	DET
cjfa-10416	64	29	academic	academic	ADJ
cjfa-10416	64	30	community	community	NOUN
cjfa-10416	64	31	.	.	PUNCT
cjfa-10416	65	1	it	it	PRON
cjfa-10416	65	2	is	be	AUX
cjfa-10416	65	3	essential	essential	ADJ
cjfa-10416	65	4	to	to	PART
cjfa-10416	65	5	comprehend	comprehend	VERB
cjfa-10416	65	6	the	the	DET
cjfa-10416	65	7	relationships	relationship	NOUN
cjfa-10416	65	8	between	between	ADP
cjfa-10416	65	9	shareholders	shareholder	NOUN
cjfa-10416	65	10	and	and	CCONJ
cjfa-10416	65	11	managers	manager	NOUN
cjfa-10416	65	12	in	in	ADP
cjfa-10416	65	13	order	order	NOUN
cjfa-10416	65	14	to	to	PART
cjfa-10416	65	15	understand	understand	VERB
cjfa-10416	65	16	the	the	DET
cjfa-10416	65	17	group	group	NOUN
cjfa-10416	65	18	of	of	ADP
cjfa-10416	65	19	laws	law	NOUN
cjfa-10416	65	20	,	,	PUNCT
cjfa-10416	65	21	regulations	regulation	NOUN
cjfa-10416	65	22	,	,	PUNCT
cjfa-10416	65	23	structures	structure	NOUN
cjfa-10416	65	24	and	and	CCONJ
cjfa-10416	65	25	corporate	corporate	ADJ
cjfa-10416	65	26	bodies	body	NOUN
cjfa-10416	65	27	that	that	PRON
cjfa-10416	65	28	incorporate	incorporate	VERB
cjfa-10416	65	29	the	the	DET
cjfa-10416	65	30	notion	notion	NOUN
cjfa-10416	65	31	of	of	ADP
cjfa-10416	65	32	corporate	corporate	ADJ
cjfa-10416	65	33	governance	governance	NOUN
cjfa-10416	65	34	(	(	PUNCT
cjfa-10416	65	35	neves	neve	NOUN
cjfa-10416	65	36	2006	2006	NUM
cjfa-10416	65	37	)	)	PUNCT
cjfa-10416	65	38	.	.	PUNCT
cjfa-10416	66	1	gaughan	gaughan	PROPN
cjfa-10416	66	2	(	(	PUNCT
cjfa-10416	66	3	2007	2007	NUM
cjfa-10416	66	4	)	)	PUNCT
cjfa-10416	66	5	states	state	VERB
cjfa-10416	66	6	corporate	corporate	ADJ
cjfa-10416	66	7	governance	governance	NOUN
cjfa-10416	66	8	to	to	PART
cjfa-10416	66	9	be	be	AUX
cjfa-10416	66	10	a	a	DET
cjfa-10416	66	11	complex	complex	ADJ
cjfa-10416	66	12	notion	notion	NOUN
cjfa-10416	66	13	which	which	PRON
cjfa-10416	66	14	has	have	AUX
cjfa-10416	66	15	been	be	AUX
cjfa-10416	66	16	ostracized	ostracize	VERB
cjfa-10416	66	17	due	due	ADP
cjfa-10416	66	18	to	to	ADP
cjfa-10416	66	19	a	a	DET
cjfa-10416	66	20	group	group	NOUN
cjfa-10416	66	21	of	of	ADP
cjfa-10416	66	22	“	"	PUNCT
cjfa-10416	66	23	corporate	corporate	ADJ
cjfa-10416	66	24	misconducts	misconduct	NOUN
cjfa-10416	66	25	”	"	PUNCT
cjfa-10416	66	26	that	that	PRON
cjfa-10416	66	27	have	have	AUX
cjfa-10416	66	28	lead	lead	VERB
cjfa-10416	66	29	companies	company	NOUN
cjfa-10416	66	30	to	to	PART
cjfa-10416	66	31	change	change	VERB
cjfa-10416	66	32	their	their	PRON
cjfa-10416	66	33	regulations	regulation	NOUN
cjfa-10416	66	34	and	and	CCONJ
cjfa-10416	66	35	business	business	NOUN
cjfa-10416	66	36	structures	structure	NOUN
cjfa-10416	66	37	.	.	PUNCT
cjfa-10416	67	1	in	in	ADP
cjfa-10416	67	2	this	this	DET
cjfa-10416	67	3	domain	domain	NOUN
cjfa-10416	67	4	,	,	PUNCT
cjfa-10416	67	5	the	the	DET
cjfa-10416	67	6	sarbanes	sarbanes	PROPN
cjfa-10416	67	7	-	-	PUNCT
cjfa-10416	67	8	oxley	oxley	ADJ
cjfa-10416	67	9	law	law	NOUN
cjfa-10416	67	10	defined	define	VERB
cjfa-10416	67	11	several	several	ADJ
cjfa-10416	67	12	significant	significant	ADJ
cjfa-10416	67	13	reductions	reduction	NOUN
cjfa-10416	67	14	on	on	ADP
cjfa-10416	67	15	the	the	DET
cjfa-10416	67	16	creation	creation	NOUN
cjfa-10416	67	17	of	of	ADP
cjfa-10416	67	18	opportunities	opportunity	NOUN
cjfa-10416	67	19	for	for	ADP
cjfa-10416	67	20	the	the	DET
cjfa-10416	67	21	occurrence	occurrence	NOUN
cjfa-10416	67	22	of	of	ADP
cjfa-10416	67	23	conflicting	conflict	VERB
cjfa-10416	67	24	interests	interest	NOUN
cjfa-10416	67	25	and	and	CCONJ
cjfa-10416	67	26	allowed	allow	VERB
cjfa-10416	67	27	for	for	ADP
cjfa-10416	67	28	a	a	DET
cjfa-10416	67	29	significant	significant	ADJ
cjfa-10416	67	30	reduction	reduction	NOUN
cjfa-10416	67	31	of	of	ADP
cjfa-10416	67	32	agency	agency	NOUN
cjfa-10416	67	33	problems	problem	NOUN
cjfa-10416	67	34	.	.	PUNCT
cjfa-10416	68	1	an	an	DET
cjfa-10416	68	2	agency	agency	NOUN
cjfa-10416	68	3	relationship	relationship	NOUN
cjfa-10416	68	4	might	might	AUX
cjfa-10416	68	5	be	be	AUX
cjfa-10416	68	6	defined	define	VERB
cjfa-10416	68	7	as	as	ADP
cjfa-10416	68	8	a	a	DET
cjfa-10416	68	9	contract	contract	NOUN
cjfa-10416	68	10	in	in	ADP
cjfa-10416	68	11	which	which	PRON
cjfa-10416	68	12	one	one	NUM
cjfa-10416	68	13	or	or	CCONJ
cjfa-10416	68	14	more	more	ADJ
cjfa-10416	68	15	persons	person	NOUN
cjfa-10416	68	16	(	(	PUNCT
cjfa-10416	68	17	principal	principal	NOUN
cjfa-10416	68	18	)	)	PUNCT
cjfa-10416	68	19	undertake	undertake	VERB
cjfa-10416	68	20	a	a	DET
cjfa-10416	68	21	third	third	ADJ
cjfa-10416	68	22	-	-	PUNCT
cjfa-10416	68	23	party	party	NOUN
cjfa-10416	68	24	(	(	PUNCT
cjfa-10416	68	25	agent	agent	NOUN
cjfa-10416	68	26	)	)	PUNCT
cjfa-10416	68	27	to	to	PART
cjfa-10416	68	28	execute	execute	VERB
cjfa-10416	68	29	some	some	DET
cjfa-10416	68	30	authority	authority	NOUN
cjfa-10416	68	31	task	task	NOUN
cjfa-10416	68	32	,	,	PUNCT
cjfa-10416	68	33	in	in	ADP
cjfa-10416	68	34	this	this	DET
cjfa-10416	68	35	context	context	NOUN
cjfa-10416	68	36	the	the	DET
cjfa-10416	68	37	task	task	NOUN
cjfa-10416	68	38	is	be	AUX
cjfa-10416	68	39	to	to	PART
cjfa-10416	68	40	manage	manage	VERB
cjfa-10416	68	41	a	a	DET
cjfa-10416	68	42	company	company	NOUN
cjfa-10416	68	43	.	.	PUNCT
cjfa-10416	69	1	taking	take	VERB
cjfa-10416	69	2	into	into	ADP
cjfa-10416	69	3	consideration	consideration	NOUN
cjfa-10416	69	4	that	that	SCONJ
cjfa-10416	69	5	both	both	ADV
cjfa-10416	69	6	–	–	PUNCT
cjfa-10416	69	7	principal	principal	NOUN
cjfa-10416	69	8	and	and	CCONJ
cjfa-10416	69	9	agent	agent	NOUN
cjfa-10416	69	10	–	–	PUNCT
cjfa-10416	69	11	want	want	VERB
cjfa-10416	69	12	to	to	PART
cjfa-10416	69	13	maximize	maximize	VERB
cjfa-10416	69	14	utility	utility	NOUN
cjfa-10416	69	15	,	,	PUNCT
cjfa-10416	69	16	it	it	PRON
cjfa-10416	69	17	is	be	AUX
cjfa-10416	69	18	possible	possible	ADJ
cjfa-10416	69	19	to	to	PART
cjfa-10416	69	20	assume	assume	VERB
cjfa-10416	69	21	that	that	SCONJ
cjfa-10416	69	22	the	the	DET
cjfa-10416	69	23	agent	agent	NOUN
cjfa-10416	69	24	not	not	PART
cjfa-10416	69	25	always	always	ADV
cjfa-10416	69	26	works	work	VERB
cjfa-10416	69	27	in	in	ADP
cjfa-10416	69	28	favor	favor	NOUN
cjfa-10416	69	29	of	of	ADP
cjfa-10416	69	30	the	the	DET
cjfa-10416	69	31	principal	principal	NOUN
cjfa-10416	69	32	,	,	PUNCT
cjfa-10416	69	33	creating	create	VERB
cjfa-10416	69	34	agency	agency	NOUN
cjfa-10416	69	35	problems	problem	NOUN
cjfa-10416	69	36	(	(	PUNCT
cjfa-10416	69	37	jensen	jensen	PROPN
cjfa-10416	69	38	&	&	CCONJ
cjfa-10416	69	39	meckling	meckle	VERB
cjfa-10416	69	40	1976	1976	NUM
cjfa-10416	69	41	;	;	PUNCT
cjfa-10416	69	42	eisenhardt	eisenhardt	PROPN
cjfa-10416	69	43	1989	1989	NUM
cjfa-10416	69	44	)	)	PUNCT
cjfa-10416	69	45	.	.	PUNCT
cjfa-10416	70	1	agency	agency	NOUN
cjfa-10416	70	2	theory	theory	NOUN
cjfa-10416	70	3	tries	try	VERB
cjfa-10416	70	4	to	to	PART
cjfa-10416	70	5	solve	solve	VERB
cjfa-10416	70	6	two	two	NUM
cjfa-10416	70	7	problems	problem	NOUN
cjfa-10416	70	8	,	,	PUNCT
cjfa-10416	70	9	known	know	VERB
cjfa-10416	70	10	as	as	ADP
cjfa-10416	70	11	agency	agency	NOUN
cjfa-10416	70	12	problem	problem	NOUN
cjfa-10416	70	13	and	and	CCONJ
cjfa-10416	70	14	risk	risk	NOUN
cjfa-10416	70	15	-	-	PUNCT
cjfa-10416	70	16	sharing	sharing	NOUN
cjfa-10416	70	17	problem	problem	NOUN
cjfa-10416	70	18	.	.	PUNCT
cjfa-10416	71	1	the	the	DET
cjfa-10416	71	2	agency	agency	NOUN
cjfa-10416	71	3	problem	problem	NOUN
cjfa-10416	71	4	is	be	AUX
cjfa-10416	71	5	related	relate	VERB
cjfa-10416	71	6	to	to	ADP
cjfa-10416	71	7	the	the	DET
cjfa-10416	71	8	conflict	conflict	NOUN
cjfa-10416	71	9	of	of	ADP
cjfa-10416	71	10	interests	interest	NOUN
cjfa-10416	71	11	between	between	ADP
cjfa-10416	71	12	agent	agent	NOUN
cjfa-10416	71	13	and	and	CCONJ
cjfa-10416	71	14	principal	principal	NOUN
cjfa-10416	71	15	,	,	PUNCT
cjfa-10416	71	16	as	as	ADV
cjfa-10416	71	17	well	well	ADV
cjfa-10416	71	18	as	as	ADP
cjfa-10416	71	19	to	to	ADP
cjfa-10416	71	20	the	the	DET
cjfa-10416	71	21	difficulty	difficulty	NOUN
cjfa-10416	71	22	that	that	PRON
cjfa-10416	71	23	the	the	DET
cjfa-10416	71	24	principal	principal	NOUN
cjfa-10416	71	25	has	have	VERB
cjfa-10416	71	26	in	in	ADP
cjfa-10416	71	27	monitoring	monitor	VERB
cjfa-10416	71	28	the	the	DET
cjfa-10416	71	29	agent	agent	NOUN
cjfa-10416	71	30	.	.	PUNCT
cjfa-10416	72	1	the	the	DET
cjfa-10416	72	2	risk	risk	NOUN
cjfa-10416	72	3	-	-	PUNCT
cjfa-10416	72	4	sharing	share	VERB
cjfa-10416	72	5	problem	problem	NOUN
cjfa-10416	72	6	appears	appear	VERB
cjfa-10416	72	7	when	when	SCONJ
cjfa-10416	72	8	the	the	DET
cjfa-10416	72	9	agent	agent	NOUN
cjfa-10416	72	10	and	and	CCONJ
cjfa-10416	72	11	principal	principal	NOUN
cjfa-10416	72	12	have	have	VERB
cjfa-10416	72	13	different	different	ADJ
cjfa-10416	72	14	attitudes	attitude	NOUN
cjfa-10416	72	15	toward	toward	ADP
cjfa-10416	72	16	risk	risk	NOUN
cjfa-10416	72	17	(	(	PUNCT
cjfa-10416	72	18	eisenhardt	eisenhardt	PROPN
cjfa-10416	72	19	1989	1989	NUM
cjfa-10416	72	20	)	)	PUNCT
cjfa-10416	72	21	.	.	PUNCT
cjfa-10416	73	1	bid	bid	NOUN
cjfa-10416	73	2	premium	premium	NOUN
cjfa-10416	73	3	bid	bid	NOUN
cjfa-10416	73	4	premium	premium	NOUN
cjfa-10416	73	5	corresponds	correspond	VERB
cjfa-10416	73	6	to	to	ADP
cjfa-10416	73	7	the	the	DET
cjfa-10416	73	8	difference	difference	NOUN
cjfa-10416	73	9	between	between	ADP
cjfa-10416	73	10	the	the	DET
cjfa-10416	73	11	value	value	NOUN
cjfa-10416	73	12	offered	offer	VERB
cjfa-10416	73	13	by	by	ADP
cjfa-10416	73	14	the	the	DET
cjfa-10416	73	15	acquiring	acquire	VERB
cjfa-10416	73	16	company	company	NOUN
cjfa-10416	73	17	for	for	ADP
cjfa-10416	73	18	the	the	DET
cjfa-10416	73	19	acquisition	acquisition	NOUN
cjfa-10416	73	20	of	of	ADP
cjfa-10416	73	21	the	the	DET
cjfa-10416	73	22	target	target	NOUN
cjfa-10416	73	23	company	company	NOUN
cjfa-10416	73	24	and	and	CCONJ
cjfa-10416	73	25	the	the	DET
cjfa-10416	73	26	real	real	ADJ
cjfa-10416	73	27	value	value	NOUN
cjfa-10416	73	28	of	of	ADP
cjfa-10416	73	29	the	the	DET
cjfa-10416	73	30	target	target	NOUN
cjfa-10416	73	31	company	company	NOUN
cjfa-10416	73	32	in	in	ADP
cjfa-10416	73	33	the	the	DET
cjfa-10416	73	34	market	market	NOUN
cjfa-10416	73	35	.	.	PUNCT
cjfa-10416	74	1	usually	usually	ADV
cjfa-10416	74	2	,	,	PUNCT
cjfa-10416	74	3	premiums	premium	NOUN
cjfa-10416	74	4	are	be	AUX
cjfa-10416	74	5	quite	quite	ADV
cjfa-10416	74	6	high	high	ADJ
cjfa-10416	74	7	because	because	SCONJ
cjfa-10416	74	8	the	the	DET
cjfa-10416	74	9	acquiring	acquire	VERB
cjfa-10416	74	10	company	company	NOUN
cjfa-10416	74	11	wants	want	VERB
cjfa-10416	74	12	to	to	PART
cjfa-10416	74	13	obtain	obtain	VERB
cjfa-10416	74	14	a	a	DET
cjfa-10416	74	15	positive	positive	ADJ
cjfa-10416	74	16	answer	answer	NOUN
cjfa-10416	74	17	from	from	ADP
cjfa-10416	74	18	the	the	DET
cjfa-10416	74	19	target	target	NOUN
cjfa-10416	74	20	company	company	NOUN
cjfa-10416	74	21	for	for	ADP
cjfa-10416	74	22	its	its	PRON
cjfa-10416	74	23	acquisition	acquisition	NOUN
cjfa-10416	74	24	(	(	PUNCT
cjfa-10416	74	25	schoenberg	schoenberg	PROPN
cjfa-10416	74	26	2003	2003	NUM
cjfa-10416	74	27	)	)	PUNCT
cjfa-10416	74	28	.	.	PUNCT
cjfa-10416	75	1	the	the	DET
cjfa-10416	75	2	notion	notion	NOUN
cjfa-10416	75	3	of	of	ADP
cjfa-10416	75	4	premium	premium	NOUN
cjfa-10416	75	5	is	be	AUX
cjfa-10416	75	6	often	often	ADV
cjfa-10416	75	7	related	relate	VERB
cjfa-10416	75	8	with	with	ADP
cjfa-10416	75	9	the	the	DET
cjfa-10416	75	10	decision	decision	NOUN
cjfa-10416	75	11	assuring	assure	VERB
cjfa-10416	75	12	the	the	DET
cjfa-10416	75	13	shareholder	shareholder	NOUN
cjfa-10416	75	14	interest	interest	NOUN
cjfa-10416	75	15	,	,	PUNCT
cjfa-10416	75	16	considering	consider	VERB
cjfa-10416	75	17	that	that	SCONJ
cjfa-10416	75	18	empirical	empirical	ADJ
cjfa-10416	75	19	evidence	evidence	NOUN
cjfa-10416	75	20	has	have	AUX
cjfa-10416	75	21	shown	show	VERB
cjfa-10416	75	22	that	that	SCONJ
cjfa-10416	75	23	a	a	DET
cjfa-10416	75	24	positive	positive	ADJ
cjfa-10416	75	25	correlation	correlation	NOUN
cjfa-10416	75	26	between	between	ADP
cjfa-10416	75	27	an	an	DET
cjfa-10416	75	28	increase	increase	NOUN
cjfa-10416	75	29	in	in	ADP
cjfa-10416	75	30	shareholders	shareholder	NOUN
cjfa-10416	75	31	’	’	PART
cjfa-10416	75	32	wealth	wealth	NOUN
cjfa-10416	75	33	and	and	CCONJ
cjfa-10416	75	34	an	an	DET
cjfa-10416	75	35	increase	increase	NOUN
cjfa-10416	75	36	on	on	ADP
cjfa-10416	75	37	the	the	DET
cjfa-10416	75	38	impact	impact	NOUN
cjfa-10416	75	39	of	of	ADP
cjfa-10416	75	40	the	the	DET
cjfa-10416	75	41	preliminary	preliminary	ADJ
cjfa-10416	75	42	announcement	announcement	NOUN
cjfa-10416	75	43	…	…	PUNCT
cjfa-10416	75	44	45	45	NUM
cjfa-10416	75	45	the	the	DET
cjfa-10416	75	46	premium	premium	NOUN
cjfa-10416	75	47	of	of	ADP
cjfa-10416	75	48	the	the	DET
cjfa-10416	75	49	acquiring	acquire	VERB
cjfa-10416	75	50	company	company	NOUN
cjfa-10416	75	51	exists	exist	VERB
cjfa-10416	75	52	(	(	PUNCT
cjfa-10416	75	53	schoenberg	schoenberg	PROPN
cjfa-10416	75	54	&	&	CCONJ
cjfa-10416	75	55	thornton	thornton	PROPN
cjfa-10416	75	56	2006	2006	NUM
cjfa-10416	75	57	;	;	PUNCT
cjfa-10416	75	58	johansson	johansson	PROPN
cjfa-10416	75	59	&	&	CCONJ
cjfa-10416	75	60	torstensson	torstensson	PROPN
cjfa-10416	75	61	2008	2008	NUM
cjfa-10416	75	62	)	)	PUNCT
cjfa-10416	75	63	.	.	PUNCT
cjfa-10416	76	1	schwert	schwert	PROPN
cjfa-10416	76	2	(	(	PUNCT
cjfa-10416	76	3	1996	1996	NUM
cjfa-10416	76	4	)	)	PUNCT
cjfa-10416	76	5	concluded	conclude	VERB
cjfa-10416	76	6	that	that	SCONJ
cjfa-10416	76	7	competition	competition	NOUN
cjfa-10416	76	8	increases	increase	VERB
cjfa-10416	76	9	the	the	DET
cjfa-10416	76	10	bid	bid	NOUN
cjfa-10416	76	11	premium	premium	NOUN
cjfa-10416	76	12	,	,	PUNCT
cjfa-10416	76	13	significantly	significantly	ADV
cjfa-10416	76	14	,	,	PUNCT
cjfa-10416	76	15	confirming	confirm	VERB
cjfa-10416	76	16	the	the	DET
cjfa-10416	76	17	papers	paper	NOUN
cjfa-10416	76	18	written	write	VERB
cjfa-10416	76	19	by	by	ADP
cjfa-10416	76	20	bradley	bradley	PROPN
cjfa-10416	76	21	,	,	PUNCT
cjfa-10416	76	22	desai	desai	PROPN
cjfa-10416	76	23	and	and	CCONJ
cjfa-10416	76	24	kim	kim	PROPN
cjfa-10416	76	25	(	(	PUNCT
cjfa-10416	76	26	1988	1988	NUM
cjfa-10416	76	27	)	)	PUNCT
cjfa-10416	76	28	,	,	PUNCT
cjfa-10416	76	29	by	by	ADP
cjfa-10416	76	30	comment	comment	NOUN
cjfa-10416	76	31	and	and	CCONJ
cjfa-10416	76	32	schwert	schwert	NOUN
cjfa-10416	76	33	(	(	PUNCT
cjfa-10416	76	34	1995	1995	NUM
cjfa-10416	76	35	)	)	PUNCT
cjfa-10416	76	36	and	and	CCONJ
cjfa-10416	76	37	by	by	ADP
cjfa-10416	76	38	sacchetto	sacchetto	NOUN
cjfa-10416	76	39	and	and	CCONJ
cjfa-10416	76	40	dimopoulos	dimopoulo	NOUN
cjfa-10416	76	41	(	(	PUNCT
cjfa-10416	76	42	2008	2008	NUM
cjfa-10416	76	43	)	)	PUNCT
cjfa-10416	76	44	.	.	PUNCT
cjfa-10416	77	1	the	the	DET
cjfa-10416	77	2	figure	figure	NOUN
cjfa-10416	77	3	below	below	ADV
cjfa-10416	77	4	shows	show	VERB
cjfa-10416	77	5	the	the	DET
cjfa-10416	77	6	four	four	NUM
cjfa-10416	77	7	phases	phase	NOUN
cjfa-10416	77	8	of	of	ADP
cjfa-10416	77	9	the	the	DET
cjfa-10416	77	10	acquisition	acquisition	NOUN
cjfa-10416	77	11	process	process	NOUN
cjfa-10416	77	12	identified	identify	VERB
cjfa-10416	77	13	by	by	ADP
cjfa-10416	77	14	schwert	schwert	NOUN
cjfa-10416	77	15	(	(	PUNCT
cjfa-10416	77	16	1996	1996	NUM
cjfa-10416	77	17	)	)	PUNCT
cjfa-10416	77	18	.	.	PUNCT
cjfa-10416	78	1	figure	figure	NOUN
cjfa-10416	78	2	1	1	NUM
cjfa-10416	78	3	.	.	PUNCT
cjfa-10416	78	4	phases	phase	NOUN
cjfa-10416	78	5	of	of	ADP
cjfa-10416	78	6	the	the	DET
cjfa-10416	78	7	acquisition	acquisition	NOUN
cjfa-10416	78	8	process	process	NOUN
cjfa-10416	78	9	“	"	PUNCT
cjfa-10416	78	10	corporate	corporate	ADJ
cjfa-10416	78	11	misconducts	misconduct	NOUN
cjfa-10416	78	12	”	"	PUNCT
cjfa-10416	78	13	that	that	PRON
cjfa-10416	78	14	have	have	AUX
cjfa-10416	78	15	lead	lead	VERB
cjfa-10416	78	16	companies	company	NOUN
cjfa-10416	78	17	to	to	PART
cjfa-10416	78	18	change	change	VERB
cjfa-10416	78	19	their	their	PRON
cjfa-10416	78	20	regulations	regulation	NOUN
cjfa-10416	78	21	and	and	CCONJ
cjfa-10416	78	22	business	business	NOUN
cjfa-10416	78	23	structures	structure	NOUN
cjfa-10416	78	24	.	.	PUNCT
cjfa-10416	79	1	in	in	ADP
cjfa-10416	79	2	this	this	DET
cjfa-10416	79	3	domain	domain	NOUN
cjfa-10416	79	4	,	,	PUNCT
cjfa-10416	79	5	the	the	DET
cjfa-10416	79	6	sarbanes	sarbanes	PROPN
cjfa-10416	79	7	-	-	PUNCT
cjfa-10416	79	8	oxley	oxley	ADJ
cjfa-10416	79	9	law	law	NOUN
cjfa-10416	79	10	defined	define	VERB
cjfa-10416	79	11	several	several	ADJ
cjfa-10416	79	12	significant	significant	ADJ
cjfa-10416	79	13	reductions	reduction	NOUN
cjfa-10416	79	14	on	on	ADP
cjfa-10416	79	15	the	the	DET
cjfa-10416	79	16	creation	creation	NOUN
cjfa-10416	79	17	of	of	ADP
cjfa-10416	79	18	opportunities	opportunity	NOUN
cjfa-10416	79	19	for	for	ADP
cjfa-10416	79	20	the	the	DET
cjfa-10416	79	21	occurrence	occurrence	NOUN
cjfa-10416	79	22	of	of	ADP
cjfa-10416	79	23	conflicting	conflict	VERB
cjfa-10416	79	24	interests	interest	NOUN
cjfa-10416	79	25	and	and	CCONJ
cjfa-10416	79	26	allowed	allow	VERB
cjfa-10416	79	27	for	for	ADP
cjfa-10416	79	28	a	a	DET
cjfa-10416	79	29	significant	significant	ADJ
cjfa-10416	79	30	reduction	reduction	NOUN
cjfa-10416	79	31	of	of	ADP
cjfa-10416	79	32	agency	agency	NOUN
cjfa-10416	79	33	problems	problem	NOUN
cjfa-10416	79	34	.	.	PUNCT
cjfa-10416	80	1	an	an	DET
cjfa-10416	80	2	agency	agency	NOUN
cjfa-10416	80	3	relationship	relationship	NOUN
cjfa-10416	80	4	might	might	AUX
cjfa-10416	80	5	be	be	AUX
cjfa-10416	80	6	defined	define	VERB
cjfa-10416	80	7	as	as	ADP
cjfa-10416	80	8	a	a	DET
cjfa-10416	80	9	contract	contract	NOUN
cjfa-10416	80	10	in	in	ADP
cjfa-10416	80	11	which	which	PRON
cjfa-10416	80	12	one	one	NUM
cjfa-10416	80	13	or	or	CCONJ
cjfa-10416	80	14	more	more	ADJ
cjfa-10416	80	15	persons	person	NOUN
cjfa-10416	80	16	(	(	PUNCT
cjfa-10416	80	17	principal	principal	NOUN
cjfa-10416	80	18	)	)	PUNCT
cjfa-10416	80	19	undertake	undertake	VERB
cjfa-10416	80	20	a	a	DET
cjfa-10416	80	21	third	third	ADJ
cjfa-10416	80	22	-	-	PUNCT
cjfa-10416	80	23	party	party	NOUN
cjfa-10416	80	24	(	(	PUNCT
cjfa-10416	80	25	agent	agent	NOUN
cjfa-10416	80	26	)	)	PUNCT
cjfa-10416	80	27	to	to	PART
cjfa-10416	80	28	execute	execute	VERB
cjfa-10416	80	29	some	some	DET
cjfa-10416	80	30	authority	authority	NOUN
cjfa-10416	80	31	task	task	NOUN
cjfa-10416	80	32	,	,	PUNCT
cjfa-10416	80	33	in	in	ADP
cjfa-10416	80	34	this	this	DET
cjfa-10416	80	35	context	context	NOUN
cjfa-10416	80	36	the	the	DET
cjfa-10416	80	37	task	task	NOUN
cjfa-10416	80	38	is	be	AUX
cjfa-10416	80	39	to	to	PART
cjfa-10416	80	40	manage	manage	VERB
cjfa-10416	80	41	a	a	DET
cjfa-10416	80	42	company	company	NOUN
cjfa-10416	80	43	.	.	PUNCT
cjfa-10416	81	1	taking	take	VERB
cjfa-10416	81	2	into	into	ADP
cjfa-10416	81	3	consideration	consideration	NOUN
cjfa-10416	81	4	that	that	SCONJ
cjfa-10416	81	5	both	both	ADV
cjfa-10416	81	6	–	–	PUNCT
cjfa-10416	81	7	principal	principal	NOUN
cjfa-10416	81	8	and	and	CCONJ
cjfa-10416	81	9	agent	agent	NOUN
cjfa-10416	81	10	–	–	PUNCT
cjfa-10416	81	11	want	want	VERB
cjfa-10416	81	12	to	to	PART
cjfa-10416	81	13	maximize	maximize	VERB
cjfa-10416	81	14	utility	utility	NOUN
cjfa-10416	81	15	,	,	PUNCT
cjfa-10416	81	16	it	it	PRON
cjfa-10416	81	17	is	be	AUX
cjfa-10416	81	18	possible	possible	ADJ
cjfa-10416	81	19	to	to	PART
cjfa-10416	81	20	assume	assume	VERB
cjfa-10416	81	21	that	that	SCONJ
cjfa-10416	81	22	the	the	DET
cjfa-10416	81	23	agent	agent	NOUN
cjfa-10416	81	24	not	not	PART
cjfa-10416	81	25	always	always	ADV
cjfa-10416	81	26	works	work	VERB
cjfa-10416	81	27	in	in	ADP
cjfa-10416	81	28	favor	favor	NOUN
cjfa-10416	81	29	of	of	ADP
cjfa-10416	81	30	the	the	DET
cjfa-10416	81	31	principal	principal	NOUN
cjfa-10416	81	32	,	,	PUNCT
cjfa-10416	81	33	creating	create	VERB
cjfa-10416	81	34	agency	agency	NOUN
cjfa-10416	81	35	problems	problem	NOUN
cjfa-10416	81	36	(	(	PUNCT
cjfa-10416	81	37	jensen	jensen	PROPN
cjfa-10416	81	38	&	&	CCONJ
cjfa-10416	81	39	meckling	meckling	PROPN
cjfa-10416	81	40	,	,	PUNCT
cjfa-10416	81	41	1976	1976	NUM
cjfa-10416	81	42	;	;	PUNCT
cjfa-10416	81	43	eisenhardt	eisenhardt	ADJ
cjfa-10416	81	44	,	,	PUNCT
cjfa-10416	81	45	1989	1989	NUM
cjfa-10416	81	46	)	)	PUNCT
cjfa-10416	81	47	.	.	PUNCT
cjfa-10416	82	1	agency	agency	NOUN
cjfa-10416	82	2	theory	theory	NOUN
cjfa-10416	82	3	tries	try	VERB
cjfa-10416	82	4	to	to	PART
cjfa-10416	82	5	solve	solve	VERB
cjfa-10416	82	6	two	two	NUM
cjfa-10416	82	7	problems	problem	NOUN
cjfa-10416	82	8	,	,	PUNCT
cjfa-10416	82	9	known	know	VERB
cjfa-10416	82	10	as	as	ADP
cjfa-10416	82	11	agency	agency	NOUN
cjfa-10416	82	12	problem	problem	NOUN
cjfa-10416	82	13	and	and	CCONJ
cjfa-10416	82	14	risk	risk	NOUN
cjfa-10416	82	15	-	-	PUNCT
cjfa-10416	82	16	sharing	sharing	NOUN
cjfa-10416	82	17	problem	problem	NOUN
cjfa-10416	82	18	.	.	PUNCT
cjfa-10416	83	1	the	the	DET
cjfa-10416	83	2	agency	agency	NOUN
cjfa-10416	83	3	problem	problem	NOUN
cjfa-10416	83	4	is	be	AUX
cjfa-10416	83	5	related	relate	VERB
cjfa-10416	83	6	to	to	ADP
cjfa-10416	83	7	the	the	DET
cjfa-10416	83	8	conflict	conflict	NOUN
cjfa-10416	83	9	of	of	ADP
cjfa-10416	83	10	interests	interest	NOUN
cjfa-10416	83	11	between	between	ADP
cjfa-10416	83	12	agent	agent	NOUN
cjfa-10416	83	13	and	and	CCONJ
cjfa-10416	83	14	principal	principal	NOUN
cjfa-10416	83	15	,	,	PUNCT
cjfa-10416	83	16	as	as	ADV
cjfa-10416	83	17	well	well	ADV
cjfa-10416	83	18	as	as	ADP
cjfa-10416	83	19	to	to	ADP
cjfa-10416	83	20	the	the	DET
cjfa-10416	83	21	difficulty	difficulty	NOUN
cjfa-10416	83	22	that	that	PRON
cjfa-10416	83	23	the	the	DET
cjfa-10416	83	24	principal	principal	NOUN
cjfa-10416	83	25	has	have	VERB
cjfa-10416	83	26	in	in	ADP
cjfa-10416	83	27	monitoring	monitor	VERB
cjfa-10416	83	28	the	the	DET
cjfa-10416	83	29	agent	agent	NOUN
cjfa-10416	83	30	.	.	PUNCT
cjfa-10416	84	1	the	the	DET
cjfa-10416	84	2	risk	risk	NOUN
cjfa-10416	84	3	-	-	PUNCT
cjfa-10416	84	4	sharing	share	VERB
cjfa-10416	84	5	problem	problem	NOUN
cjfa-10416	84	6	appears	appear	VERB
cjfa-10416	84	7	when	when	SCONJ
cjfa-10416	84	8	the	the	DET
cjfa-10416	84	9	agent	agent	NOUN
cjfa-10416	84	10	and	and	CCONJ
cjfa-10416	84	11	principal	principal	NOUN
cjfa-10416	84	12	have	have	VERB
cjfa-10416	84	13	different	different	ADJ
cjfa-10416	84	14	attitudes	attitude	NOUN
cjfa-10416	84	15	toward	toward	ADP
cjfa-10416	84	16	risk	risk	NOUN
cjfa-10416	84	17	(	(	PUNCT
cjfa-10416	84	18	eisenhardt	eisenhardt	ADJ
cjfa-10416	84	19	,	,	PUNCT
cjfa-10416	84	20	1989	1989	NUM
cjfa-10416	84	21	)	)	PUNCT
cjfa-10416	84	22	.	.	PUNCT
cjfa-10416	85	1	bid	bid	NOUN
cjfa-10416	85	2	premium	premium	NOUN
cjfa-10416	85	3	bid	bid	NOUN
cjfa-10416	85	4	premium	premium	NOUN
cjfa-10416	85	5	corresponds	correspond	VERB
cjfa-10416	85	6	to	to	ADP
cjfa-10416	85	7	the	the	DET
cjfa-10416	85	8	difference	difference	NOUN
cjfa-10416	85	9	between	between	ADP
cjfa-10416	85	10	the	the	DET
cjfa-10416	85	11	value	value	NOUN
cjfa-10416	85	12	offered	offer	VERB
cjfa-10416	85	13	by	by	ADP
cjfa-10416	85	14	the	the	DET
cjfa-10416	85	15	acquiring	acquire	VERB
cjfa-10416	85	16	company	company	NOUN
cjfa-10416	85	17	for	for	ADP
cjfa-10416	85	18	the	the	DET
cjfa-10416	85	19	acquisition	acquisition	NOUN
cjfa-10416	85	20	of	of	ADP
cjfa-10416	85	21	the	the	DET
cjfa-10416	85	22	target	target	NOUN
cjfa-10416	85	23	company	company	NOUN
cjfa-10416	85	24	and	and	CCONJ
cjfa-10416	85	25	the	the	DET
cjfa-10416	85	26	real	real	ADJ
cjfa-10416	85	27	value	value	NOUN
cjfa-10416	85	28	of	of	ADP
cjfa-10416	85	29	the	the	DET
cjfa-10416	85	30	target	target	NOUN
cjfa-10416	85	31	company	company	NOUN
cjfa-10416	85	32	in	in	ADP
cjfa-10416	85	33	the	the	DET
cjfa-10416	85	34	market	market	NOUN
cjfa-10416	85	35	.	.	PUNCT
cjfa-10416	86	1	usually	usually	ADV
cjfa-10416	86	2	,	,	PUNCT
cjfa-10416	86	3	premiums	premium	NOUN
cjfa-10416	86	4	are	be	AUX
cjfa-10416	86	5	quite	quite	ADV
cjfa-10416	86	6	high	high	ADJ
cjfa-10416	86	7	because	because	SCONJ
cjfa-10416	86	8	the	the	DET
cjfa-10416	86	9	acquiring	acquire	VERB
cjfa-10416	86	10	company	company	NOUN
cjfa-10416	86	11	wants	want	VERB
cjfa-10416	86	12	to	to	PART
cjfa-10416	86	13	obtain	obtain	VERB
cjfa-10416	86	14	a	a	DET
cjfa-10416	86	15	positive	positive	ADJ
cjfa-10416	86	16	answer	answer	NOUN
cjfa-10416	86	17	from	from	ADP
cjfa-10416	86	18	the	the	DET
cjfa-10416	86	19	target	target	NOUN
cjfa-10416	86	20	company	company	NOUN
cjfa-10416	86	21	for	for	ADP
cjfa-10416	86	22	its	its	PRON
cjfa-10416	86	23	acquisition	acquisition	NOUN
cjfa-10416	86	24	(	(	PUNCT
cjfa-10416	86	25	schoenberg	schoenberg	PROPN
cjfa-10416	86	26	,	,	PUNCT
cjfa-10416	86	27	2003	2003	NUM
cjfa-10416	86	28	)	)	PUNCT
cjfa-10416	86	29	.	.	PUNCT
cjfa-10416	87	1	the	the	DET
cjfa-10416	87	2	notion	notion	NOUN
cjfa-10416	87	3	of	of	ADP
cjfa-10416	87	4	premium	premium	NOUN
cjfa-10416	87	5	is	be	AUX
cjfa-10416	87	6	often	often	ADV
cjfa-10416	87	7	related	relate	VERB
cjfa-10416	87	8	with	with	ADP
cjfa-10416	87	9	the	the	DET
cjfa-10416	87	10	decision	decision	NOUN
cjfa-10416	87	11	assuring	assure	VERB
cjfa-10416	87	12	the	the	DET
cjfa-10416	87	13	shareholder	shareholder	NOUN
cjfa-10416	87	14	interest	interest	NOUN
cjfa-10416	87	15	,	,	PUNCT
cjfa-10416	87	16	considering	consider	VERB
cjfa-10416	87	17	that	that	SCONJ
cjfa-10416	87	18	empirical	empirical	ADJ
cjfa-10416	87	19	evidence	evidence	NOUN
cjfa-10416	87	20	has	have	AUX
cjfa-10416	87	21	shown	show	VERB
cjfa-10416	87	22	that	that	SCONJ
cjfa-10416	87	23	a	a	DET
cjfa-10416	87	24	positive	positive	ADJ
cjfa-10416	87	25	correlation	correlation	NOUN
cjfa-10416	87	26	between	between	ADP
cjfa-10416	87	27	an	an	DET
cjfa-10416	87	28	increase	increase	NOUN
cjfa-10416	87	29	in	in	ADP
cjfa-10416	87	30	shareholders	shareholder	NOUN
cjfa-10416	87	31	’	’	PART
cjfa-10416	87	32	wealth	wealth	NOUN
cjfa-10416	87	33	and	and	CCONJ
cjfa-10416	87	34	an	an	DET
cjfa-10416	87	35	increase	increase	NOUN
cjfa-10416	87	36	on	on	ADP
cjfa-10416	87	37	the	the	DET
cjfa-10416	87	38	premium	premium	NOUN
cjfa-10416	87	39	of	of	ADP
cjfa-10416	87	40	the	the	DET
cjfa-10416	87	41	acquiring	acquire	VERB
cjfa-10416	87	42	company	company	NOUN
cjfa-10416	87	43	exists	exist	VERB
cjfa-10416	87	44	(	(	PUNCT
cjfa-10416	87	45	schoenberg	schoenberg	PROPN
cjfa-10416	87	46	&	&	CCONJ
cjfa-10416	87	47	thornton	thornton	PROPN
cjfa-10416	87	48	,	,	PUNCT
cjfa-10416	87	49	2006	2006	NUM
cjfa-10416	87	50	;	;	PUNCT
cjfa-10416	87	51	johansson	johansson	PROPN
cjfa-10416	87	52	&	&	CCONJ
cjfa-10416	87	53	torstensson	torstensson	PROPN
cjfa-10416	87	54	,	,	PUNCT
cjfa-10416	87	55	2008	2008	NUM
cjfa-10416	87	56	)	)	PUNCT
cjfa-10416	87	57	.	.	PUNCT
cjfa-10416	88	1	schwert	schwert	PROPN
cjfa-10416	88	2	(	(	PUNCT
cjfa-10416	88	3	1996	1996	NUM
cjfa-10416	88	4	)	)	PUNCT
cjfa-10416	88	5	concluded	conclude	VERB
cjfa-10416	88	6	that	that	SCONJ
cjfa-10416	88	7	competition	competition	NOUN
cjfa-10416	88	8	increases	increase	VERB
cjfa-10416	88	9	the	the	DET
cjfa-10416	88	10	bid	bid	NOUN
cjfa-10416	88	11	premium	premium	NOUN
cjfa-10416	88	12	,	,	PUNCT
cjfa-10416	88	13	significantly	significantly	ADV
cjfa-10416	88	14	,	,	PUNCT
cjfa-10416	88	15	confirming	confirm	VERB
cjfa-10416	88	16	the	the	DET
cjfa-10416	88	17	papers	paper	NOUN
cjfa-10416	88	18	written	write	VERB
cjfa-10416	88	19	by	by	ADP
cjfa-10416	88	20	bradley	bradley	PROPN
cjfa-10416	88	21	,	,	PUNCT
cjfa-10416	88	22	desai	desai	PROPN
cjfa-10416	88	23	and	and	CCONJ
cjfa-10416	88	24	kim	kim	PROPN
cjfa-10416	88	25	(	(	PUNCT
cjfa-10416	88	26	1988	1988	NUM
cjfa-10416	88	27	)	)	PUNCT
cjfa-10416	88	28	,	,	PUNCT
cjfa-10416	88	29	by	by	ADP
cjfa-10416	88	30	comment	comment	NOUN
cjfa-10416	88	31	and	and	CCONJ
cjfa-10416	88	32	schwert	schwert	NOUN
cjfa-10416	88	33	(	(	PUNCT
cjfa-10416	88	34	1995	1995	NUM
cjfa-10416	88	35	)	)	PUNCT
cjfa-10416	88	36	and	and	CCONJ
cjfa-10416	88	37	by	by	ADP
cjfa-10416	88	38	sacchetto	sacchetto	NOUN
cjfa-10416	88	39	and	and	CCONJ
cjfa-10416	88	40	dimopoulos	dimopoulo	NOUN
cjfa-10416	88	41	(	(	PUNCT
cjfa-10416	88	42	2008	2008	NUM
cjfa-10416	88	43	)	)	PUNCT
cjfa-10416	88	44	.	.	PUNCT
cjfa-10416	89	1	the	the	DET
cjfa-10416	89	2	figure	figure	NOUN
cjfa-10416	89	3	below	below	ADV
cjfa-10416	89	4	shows	show	VERB
cjfa-10416	89	5	the	the	DET
cjfa-10416	89	6	four	four	NUM
cjfa-10416	89	7	phases	phase	NOUN
cjfa-10416	89	8	of	of	ADP
cjfa-10416	89	9	the	the	DET
cjfa-10416	89	10	acquisition	acquisition	NOUN
cjfa-10416	89	11	process	process	NOUN
cjfa-10416	89	12	identified	identify	VERB
cjfa-10416	89	13	by	by	ADP
cjfa-10416	89	14	schwert	schwert	NOUN
cjfa-10416	89	15	(	(	PUNCT
cjfa-10416	89	16	1996	1996	NUM
cjfa-10416	89	17	)	)	PUNCT
cjfa-10416	89	18	.	.	PUNCT
cjfa-10416	90	1	figure	figure	NOUN
cjfa-10416	90	2	1	1	NUM
cjfa-10416	90	3	.	.	PUNCT
cjfa-10416	91	1	phases	phase	NOUN
cjfa-10416	91	2	of	of	ADP
cjfa-10416	91	3	the	the	DET
cjfa-10416	91	4	acquisition	acquisition	NOUN
cjfa-10416	91	5	process	process	NOUN
cjfa-10416	91	6	s	s	PART
cjfa-10416	91	7	o	o	NOUN
cjfa-10416	91	8	u	u	NOUN
cjfa-10416	91	9	r	r	NOUN
cjfa-10416	91	10	c	c	NOUN
cjfa-10416	91	11	e	e	NOUN
cjfa-10416	91	12	:	:	PUNCT
cjfa-10416	91	13	g.	g.	PROPN
cjfa-10416	91	14	william	william	PROPN
cjfa-10416	91	15	schwert	schwert	PROPN
cjfa-10416	91	16	(	(	PUNCT
cjfa-10416	91	17	1996	1996	NUM
cjfa-10416	91	18	,	,	PUNCT
cjfa-10416	91	19	p.3	p.3	NOUN
cjfa-10416	91	20	)	)	PUNCT
cjfa-10416	91	21	,	,	PUNCT
cjfa-10416	91	22	“	"	PUNCT
cjfa-10416	91	23	markup	markup	VERB
cjfa-10416	91	24	pricing	pricing	NOUN
cjfa-10416	91	25	in	in	ADP
cjfa-10416	91	26	mergers	merger	NOUN
cjfa-10416	91	27	and	and	CCONJ
cjfa-10416	91	28	acquisitions	acquisition	NOUN
cjfa-10416	91	29	”	"	PUNCT
cjfa-10416	91	30	.	.	PUNCT
cjfa-10416	92	1	national	national	PROPN
cjfa-10416	92	2	bureau	bureau	PROPN
cjfa-10416	92	3	of	of	ADP
cjfa-10416	92	4	economic	economic	ADJ
cjfa-10416	92	5	research	research	NOUN
cjfa-10416	92	6	.	.	PUNCT
cjfa-10416	93	1	a	a	DET
cjfa-10416	93	2	tough	tough	ADJ
cjfa-10416	93	3	negotiation	negotiation	NOUN
cjfa-10416	93	4	at	at	ADP
cjfa-10416	93	5	the	the	DET
cjfa-10416	93	6	target	target	NOUN
cjfa-10416	93	7	company	company	NOUN
cjfa-10416	93	8	’s	’s	PART
cjfa-10416	93	9	end	end	NOUN
cjfa-10416	93	10	may	may	AUX
cjfa-10416	93	11	motivate	motivate	VERB
cjfa-10416	93	12	a	a	DET
cjfa-10416	93	13	bid	bid	NOUN
cjfa-10416	93	14	premium	premium	NOUN
cjfa-10416	93	15	increase	increase	NOUN
cjfa-10416	93	16	,	,	PUNCT
cjfa-10416	93	17	but	but	CCONJ
cjfa-10416	93	18	it	it	PRON
cjfa-10416	93	19	may	may	AUX
cjfa-10416	93	20	also	also	ADV
cjfa-10416	93	21	determine	determine	VERB
cjfa-10416	93	22	a	a	DET
cjfa-10416	93	23	reduction	reduction	NOUN
cjfa-10416	93	24	on	on	ADP
cjfa-10416	93	25	the	the	DET
cjfa-10416	93	26	success	success	NOUN
cjfa-10416	93	27	probability	probability	NOUN
cjfa-10416	93	28	of	of	ADP
cjfa-10416	93	29	the	the	DET
cjfa-10416	93	30	acquisition	acquisition	NOUN
cjfa-10416	93	31	.	.	PUNCT
cjfa-10416	94	1	thus	thus	ADV
cjfa-10416	94	2	,	,	PUNCT
cjfa-10416	94	3	it	it	PRON
cjfa-10416	94	4	becomes	become	VERB
cjfa-10416	94	5	necessary	necessary	ADJ
cjfa-10416	94	6	to	to	PART
cjfa-10416	94	7	investigate	investigate	VERB
cjfa-10416	94	8	if	if	SCONJ
cjfa-10416	94	9	the	the	DET
cjfa-10416	94	10	net	net	ADJ
cjfa-10416	94	11	effects	effect	NOUN
cjfa-10416	94	12	of	of	ADP
cjfa-10416	94	13	the	the	DET
cjfa-10416	94	14	defense	defense	NOUN
cjfa-10416	94	15	strategies	strategy	NOUN
cjfa-10416	94	16	have	have	VERB
cjfa-10416	94	17	repercussions	repercussion	NOUN
cjfa-10416	94	18	on	on	ADP
cjfa-10416	94	19	the	the	DET
cjfa-10416	94	20	shareholders	shareholder	NOUN
cjfa-10416	94	21	’	'	PUNCT
cjfa-10416	94	22	wealth	wealth	NOUN
cjfa-10416	94	23	.	.	PUNCT
cjfa-10416	95	1	another	another	DET
cjfa-10416	95	2	way	way	NOUN
cjfa-10416	95	3	to	to	PART
cjfa-10416	95	4	increase	increase	VERB
cjfa-10416	95	5	the	the	DET
cjfa-10416	95	6	bid	bid	NOUN
cjfa-10416	95	7	premium	premium	NOUN
cjfa-10416	95	8	is	be	AUX
cjfa-10416	95	9	described	describe	VERB
cjfa-10416	95	10	by	by	ADP
cjfa-10416	95	11	schwert	schwert	NOUN
cjfa-10416	95	12	(	(	PUNCT
cjfa-10416	95	13	2000	2000	NUM
cjfa-10416	95	14	)	)	PUNCT
cjfa-10416	95	15	and	and	CCONJ
cjfa-10416	95	16	it	it	PRON
cjfa-10416	95	17	consists	consist	VERB
cjfa-10416	95	18	in	in	ADP
cjfa-10416	95	19	initiate	initiate	VERB
cjfa-10416	95	20	a	a	DET
cjfa-10416	95	21	process	process	NOUN
cjfa-10416	95	22	of	of	ADP
cjfa-10416	95	23	“	"	PUNCT
cjfa-10416	95	24	auction	auction	NOUN
cjfa-10416	95	25	”	"	PUNCT
cjfa-10416	95	26	,	,	PUNCT
cjfa-10416	95	27	with	with	ADP
cjfa-10416	95	28	several	several	ADJ
cjfa-10416	95	29	bidders	bidder	NOUN
cjfa-10416	95	30	(	(	PUNCT
cjfa-10416	95	31	multiple	multiple	ADJ
cjfa-10416	95	32	-	-	PUNCT
cjfa-10416	95	33	bidder	bidder	NOUN
cjfa-10416	95	34	auction	auction	NOUN
cjfa-10416	95	35	)	)	PUNCT
cjfa-10416	95	36	.	.	PUNCT
cjfa-10416	96	1	franks	frank	NOUN
cjfa-10416	96	2	and	and	CCONJ
cjfa-10416	96	3	mayer	mayer	PROPN
cjfa-10416	96	4	(	(	PUNCT
cjfa-10416	96	5	1996	1996	NUM
cjfa-10416	96	6	)	)	PUNCT
cjfa-10416	96	7	also	also	ADV
cjfa-10416	96	8	studied	study	VERB
cjfa-10416	96	9	this	this	DET
cjfa-10416	96	10	matter	matter	NOUN
cjfa-10416	96	11	and	and	CCONJ
cjfa-10416	96	12	they	they	PRON
cjfa-10416	96	13	have	have	AUX
cjfa-10416	96	14	concluded	conclude	VERB
cjfa-10416	96	15	that	that	SCONJ
cjfa-10416	96	16	the	the	DET
cjfa-10416	96	17	bid	bid	NOUN
cjfa-10416	96	18	premium	premium	NOUN
cjfa-10416	96	19	is	be	AUX
cjfa-10416	96	20	higher	high	ADJ
cjfa-10416	96	21	in	in	ADP
cjfa-10416	96	22	a	a	DET
cjfa-10416	96	23	hostile	hostile	ADJ
cjfa-10416	96	24	bid	bid	NOUN
cjfa-10416	96	25	than	than	ADP
cjfa-10416	96	26	in	in	ADP
cjfa-10416	96	27	a	a	DET
cjfa-10416	96	28	friendly	friendly	ADJ
cjfa-10416	96	29	bid	bid	NOUN
cjfa-10416	96	30	.	.	PUNCT
cjfa-10416	97	1	as	as	SCONJ
cjfa-10416	97	2	mentioned	mention	VERB
cjfa-10416	97	3	above	above	ADV
cjfa-10416	97	4	,	,	PUNCT
cjfa-10416	97	5	competition	competition	NOUN
cjfa-10416	97	6	represents	represent	VERB
cjfa-10416	97	7	an	an	DET
cjfa-10416	97	8	argument	argument	NOUN
cjfa-10416	97	9	against	against	ADP
cjfa-10416	97	10	a	a	DET
cjfa-10416	97	11	hostile	hostile	ADJ
cjfa-10416	97	12	takeover	takeover	NOUN
cjfa-10416	97	13	,	,	PUNCT
cjfa-10416	97	14	due	due	ADP
cjfa-10416	97	15	to	to	ADP
cjfa-10416	97	16	the	the	DET
cjfa-10416	97	17	increase	increase	NOUN
cjfa-10416	97	18	on	on	ADP
cjfa-10416	97	19	costs	cost	NOUN
cjfa-10416	97	20	it	it	PRON
cjfa-10416	97	21	provokes	provoke	VERB
cjfa-10416	97	22	to	to	ADP
cjfa-10416	97	23	the	the	DET
cjfa-10416	97	24	acquiring	acquire	VERB
cjfa-10416	97	25	company	company	NOUN
cjfa-10416	97	26	.	.	PUNCT
cjfa-10416	98	1	that	that	PRON
cjfa-10416	98	2	was	be	AUX
cjfa-10416	98	3	also	also	ADV
cjfa-10416	98	4	concluded	conclude	VERB
cjfa-10416	98	5	by	by	ADP
cjfa-10416	98	6	sacchetto	sacchetto	NOUN
cjfa-10416	98	7	and	and	CCONJ
cjfa-10416	98	8	dimopoulos	dimopoulo	NOUN
cjfa-10416	98	9	(	(	PUNCT
cjfa-10416	98	10	2008	2008	NUM
cjfa-10416	98	11	)	)	PUNCT
cjfa-10416	98	12	in	in	ADP
cjfa-10416	98	13	a	a	DET
cjfa-10416	98	14	study	study	NOUN
cjfa-10416	98	15	about	about	ADP
cjfa-10416	98	16	the	the	DET
cjfa-10416	98	17	impact	impact	NOUN
cjfa-10416	98	18	of	of	ADP
cjfa-10416	98	19	competition	competition	NOUN
cjfa-10416	98	20	on	on	ADP
cjfa-10416	98	21	the	the	DET
cjfa-10416	98	22	bid	bid	NOUN
cjfa-10416	98	23	premium	premium	NOUN
cjfa-10416	98	24	.	.	PUNCT
cjfa-10416	99	1	both	both	DET
cjfa-10416	99	2	authors	author	NOUN
cjfa-10416	99	3	studied	study	VERB
cjfa-10416	99	4	bids	bid	NOUN
cjfa-10416	99	5	on	on	ADP
cjfa-10416	99	6	the	the	DET
cjfa-10416	99	7	american	american	ADJ
cjfa-10416	99	8	market	market	NOUN
cjfa-10416	99	9	between	between	ADP
cjfa-10416	99	10	1988	1988	NUM
cjfa-10416	99	11	and	and	CCONJ
cjfa-10416	99	12	2006	2006	NUM
cjfa-10416	99	13	.	.	PUNCT
cjfa-10416	100	1	against	against	ADP
cjfa-10416	100	2	that	that	DET
cjfa-10416	100	3	conclusion	conclusion	NOUN
cjfa-10416	100	4	,	,	PUNCT
cjfa-10416	100	5	fishman	fishman	NOUN
cjfa-10416	100	6	(	(	PUNCT
cjfa-10416	100	7	1985	1985	NUM
cjfa-10416	100	8	)	)	PUNCT
cjfa-10416	100	9	stated	state	VERB
cjfa-10416	100	10	that	that	SCONJ
cjfa-10416	100	11	the	the	DET
cjfa-10416	100	12	bid	bid	NOUN
cjfa-10416	100	13	premium	premium	NOUN
cjfa-10416	100	14	initially	initially	ADV
cjfa-10416	100	15	offered	offer	VERB
cjfa-10416	100	16	by	by	ADP
cjfa-10416	100	17	the	the	DET
cjfa-10416	100	18	first	first	ADJ
cjfa-10416	100	19	acquiring	acquire	VERB
cjfa-10416	100	20	company	company	NOUN
cjfa-10416	100	21	(	(	PUNCT
cjfa-10416	100	22	preemptive	preemptive	ADJ
cjfa-10416	100	23	bid	bid	NOUN
cjfa-10416	100	24	)	)	PUNCT
cjfa-10416	100	25	reflects	reflect	VERB
cjfa-10416	100	26	the	the	DET
cjfa-10416	100	27	necessary	necessary	ADJ
cjfa-10416	100	28	value	value	NOUN
cjfa-10416	100	29	to	to	PART
cjfa-10416	100	30	avert	avert	VERB
cjfa-10416	100	31	a	a	DET
cjfa-10416	100	32	second	second	ADJ
cjfa-10416	100	33	acquiring	acquire	VERB
cjfa-10416	100	34	company	company	NOUN
cjfa-10416	100	35	.	.	PUNCT
cjfa-10416	101	1	the	the	DET
cjfa-10416	101	2	studies	study	NOUN
cjfa-10416	101	3	of	of	ADP
cjfa-10416	101	4	eckbo	eckbo	PROPN
cjfa-10416	101	5	(	(	PUNCT
cjfa-10416	101	6	2008	2008	NUM
cjfa-10416	101	7	)	)	PUNCT
cjfa-10416	101	8	and	and	CCONJ
cjfa-10416	101	9	aktas	akta	NOUN
cjfa-10416	101	10	et	et	PROPN
cjfa-10416	101	11	al	al	PROPN
cjfa-10416	101	12	.	.	PROPN
cjfa-10416	102	1	(	(	PUNCT
cjfa-10416	102	2	2009	2009	NUM
cjfa-10416	102	3	)	)	PUNCT
cjfa-10416	102	4	are	be	AUX
cjfa-10416	102	5	consistent	consistent	ADJ
cjfa-10416	102	6	with	with	ADP
cjfa-10416	102	7	the	the	DET
cjfa-10416	102	8	conclusions	conclusion	NOUN
cjfa-10416	102	9	presented	present	VERB
cjfa-10416	102	10	by	by	ADP
cjfa-10416	102	11	fishman	fishman	PROPN
cjfa-10416	102	12	(	(	PUNCT
cjfa-10416	102	13	1985	1985	NUM
cjfa-10416	102	14	)	)	PUNCT
cjfa-10416	102	15	,	,	PUNCT
cjfa-10416	102	16	showing	show	VERB
cjfa-10416	102	17	that	that	SCONJ
cjfa-10416	102	18	the	the	DET
cjfa-10416	102	19	bid	bid	NOUN
cjfa-10416	102	20	premium	premium	NOUN
cjfa-10416	102	21	may	may	AUX
cjfa-10416	102	22	be	be	AUX
cjfa-10416	102	23	used	use	VERB
cjfa-10416	102	24	to	to	PART
cjfa-10416	102	25	avert	avert	VERB
cjfa-10416	102	26	competition	competition	NOUN
cjfa-10416	102	27	.	.	PUNCT
cjfa-10416	103	1	complementary	complementary	PROPN
cjfa-10416	103	2	,	,	PUNCT
cjfa-10416	103	3	chen	chen	PROPN
cjfa-10416	103	4	and	and	CCONJ
cjfa-10416	103	5	cornu	cornu	PROPN
cjfa-10416	103	6	joão	joão	PROPN
cjfa-10416	103	7	paulo	paulo	PROPN
cjfa-10416	103	8	braga	braga	PROPN
cjfa-10416	103	9	,	,	PUNCT
cjfa-10416	103	10	luís	luís	PROPN
cjfa-10416	103	11	m.	m.	PROPN
cjfa-10416	103	12	pereira	pereira	PROPN
cjfa-10416	103	13	gomes46	gomes46	PROPN
cjfa-10416	103	14	(	(	PUNCT
cjfa-10416	103	15	2002	2002	NUM
cjfa-10416	103	16	)	)	PUNCT
cjfa-10416	103	17	affirm	affirm	NOUN
cjfa-10416	103	18	that	that	SCONJ
cjfa-10416	103	19	the	the	DET
cjfa-10416	103	20	processes	process	NOUN
cjfa-10416	103	21	of	of	ADP
cjfa-10416	103	22	hostile	hostile	ADJ
cjfa-10416	103	23	bids	bid	NOUN
cjfa-10416	103	24	promote	promote	VERB
cjfa-10416	103	25	even	even	ADV
cjfa-10416	103	26	more	more	ADJ
cjfa-10416	103	27	competition	competition	NOUN
cjfa-10416	103	28	between	between	ADP
cjfa-10416	103	29	acquiring	acquire	VERB
cjfa-10416	103	30	companies	company	NOUN
cjfa-10416	103	31	and	and	CCONJ
cjfa-10416	103	32	consequent	consequent	ADJ
cjfa-10416	103	33	higher	high	ADJ
cjfa-10416	103	34	premiums	premium	NOUN
cjfa-10416	103	35	paid	pay	VERB
cjfa-10416	103	36	to	to	ADP
cjfa-10416	103	37	the	the	DET
cjfa-10416	103	38	target	target	NOUN
cjfa-10416	103	39	companies	company	NOUN
cjfa-10416	103	40	.	.	PUNCT
cjfa-10416	104	1	empirical	empirical	ADJ
cjfa-10416	104	2	research	research	NOUN
cjfa-10416	104	3	on	on	ADP
cjfa-10416	104	4	event	event	NOUN
cjfa-10416	104	5	studies	study	NOUN
cjfa-10416	104	6	as	as	SCONJ
cjfa-10416	104	7	mentioned	mention	VERB
cjfa-10416	104	8	above	above	ADV
cjfa-10416	104	9	,	,	PUNCT
cjfa-10416	104	10	the	the	DET
cjfa-10416	104	11	objective	objective	NOUN
cjfa-10416	104	12	of	of	ADP
cjfa-10416	104	13	this	this	DET
cjfa-10416	104	14	paper	paper	NOUN
cjfa-10416	104	15	is	be	AUX
cjfa-10416	104	16	to	to	PART
cjfa-10416	104	17	analyze	analyze	VERB
cjfa-10416	104	18	the	the	DET
cjfa-10416	104	19	behavior	behavior	NOUN
cjfa-10416	104	20	of	of	ADP
cjfa-10416	104	21	the	the	DET
cjfa-10416	104	22	stock	stock	NOUN
cjfa-10416	104	23	prices	price	NOUN
cjfa-10416	104	24	of	of	ADP
cjfa-10416	104	25	the	the	DET
cjfa-10416	104	26	companies	company	NOUN
cjfa-10416	104	27	involved	involve	VERB
cjfa-10416	104	28	in	in	ADP
cjfa-10416	104	29	takeover	takeover	NOUN
cjfa-10416	104	30	bids	bid	NOUN
cjfa-10416	104	31	,	,	PUNCT
cjfa-10416	104	32	considering	consider	VERB
cjfa-10416	104	33	the	the	DET
cjfa-10416	104	34	preliminary	preliminary	ADJ
cjfa-10416	104	35	announcement	announcement	NOUN
cjfa-10416	104	36	of	of	ADP
cjfa-10416	104	37	each	each	DET
cjfa-10416	104	38	bid	bid	NOUN
cjfa-10416	104	39	.	.	PUNCT
cjfa-10416	105	1	the	the	DET
cjfa-10416	105	2	study	study	NOUN
cjfa-10416	105	3	of	of	ADP
cjfa-10416	105	4	the	the	DET
cjfa-10416	105	5	abnormal	abnormal	ADJ
cjfa-10416	105	6	returns	return	NOUN
cjfa-10416	105	7	has	have	AUX
cjfa-10416	105	8	been	be	AUX
cjfa-10416	105	9	studied	study	VERB
cjfa-10416	105	10	on	on	ADP
cjfa-10416	105	11	the	the	DET
cjfa-10416	105	12	course	course	NOUN
cjfa-10416	105	13	of	of	ADP
cjfa-10416	105	14	finance	finance	NOUN
cjfa-10416	105	15	in	in	ADP
cjfa-10416	105	16	the	the	DET
cjfa-10416	105	17	subject	subject	NOUN
cjfa-10416	105	18	of	of	ADP
cjfa-10416	105	19	event	event	NOUN
cjfa-10416	105	20	studies	study	NOUN
cjfa-10416	105	21	.	.	PUNCT
cjfa-10416	106	1	beaver	beaver	PROPN
cjfa-10416	106	2	(	(	PUNCT
cjfa-10416	106	3	1968	1968	NUM
cjfa-10416	106	4	)	)	PUNCT
cjfa-10416	106	5	studied	study	VERB
cjfa-10416	106	6	the	the	DET
cjfa-10416	106	7	impact	impact	NOUN
cjfa-10416	106	8	of	of	ADP
cjfa-10416	106	9	information	information	NOUN
cjfa-10416	106	10	over	over	ADP
cjfa-10416	106	11	the	the	DET
cjfa-10416	106	12	volume	volume	NOUN
cjfa-10416	106	13	and	and	CCONJ
cjfa-10416	106	14	companies	company	NOUN
cjfa-10416	106	15	’	’	PART
cjfa-10416	106	16	stock	stock	NOUN
cjfa-10416	106	17	prices	price	NOUN
cjfa-10416	106	18	.	.	PUNCT
cjfa-10416	107	1	that	that	DET
cjfa-10416	107	2	information	information	NOUN
cjfa-10416	107	3	may	may	AUX
cjfa-10416	107	4	refer	refer	VERB
cjfa-10416	107	5	to	to	ADP
cjfa-10416	107	6	the	the	DET
cjfa-10416	107	7	disclosure	disclosure	NOUN
cjfa-10416	107	8	of	of	ADP
cjfa-10416	107	9	a	a	DET
cjfa-10416	107	10	preliminary	preliminary	ADJ
cjfa-10416	107	11	announcement	announcement	NOUN
cjfa-10416	107	12	of	of	ADP
cjfa-10416	107	13	a	a	DET
cjfa-10416	107	14	takeover	takeover	NOUN
cjfa-10416	107	15	bid	bid	NOUN
cjfa-10416	107	16	.	.	PUNCT
cjfa-10416	108	1	beaver	beaver	PROPN
cjfa-10416	108	2	(	(	PUNCT
cjfa-10416	108	3	1968	1968	NUM
cjfa-10416	108	4	)	)	PUNCT
cjfa-10416	108	5	defines	define	VERB
cjfa-10416	108	6	information	information	NOUN
cjfa-10416	108	7	as	as	ADP
cjfa-10416	108	8	a	a	DET
cjfa-10416	108	9	change	change	NOUN
cjfa-10416	108	10	on	on	ADP
cjfa-10416	108	11	the	the	DET
cjfa-10416	108	12	expectations	expectation	NOUN
cjfa-10416	108	13	over	over	ADP
cjfa-10416	108	14	the	the	DET
cjfa-10416	108	15	result	result	NOUN
cjfa-10416	108	16	of	of	ADP
cjfa-10416	108	17	an	an	DET
cjfa-10416	108	18	event	event	NOUN
cjfa-10416	108	19	,	,	PUNCT
cjfa-10416	108	20	in	in	ADP
cjfa-10416	108	21	a	a	DET
cjfa-10416	108	22	way	way	NOUN
cjfa-10416	108	23	that	that	PRON
cjfa-10416	108	24	the	the	DET
cjfa-10416	108	25	information	information	NOUN
cjfa-10416	108	26	has	have	VERB
cjfa-10416	108	27	an	an	DET
cjfa-10416	108	28	impact	impact	NOUN
cjfa-10416	108	29	on	on	ADP
cjfa-10416	108	30	investors	investor	NOUN
cjfa-10416	108	31	,	,	PUNCT
cjfa-10416	108	32	if	if	SCONJ
cjfa-10416	108	33	it	it	PRON
cjfa-10416	108	34	provokes	provoke	VERB
cjfa-10416	108	35	a	a	DET
cjfa-10416	108	36	change	change	NOUN
cjfa-10416	108	37	on	on	ADP
cjfa-10416	108	38	the	the	DET
cjfa-10416	108	39	investors	investor	NOUN
cjfa-10416	108	40	’	’	PART
cjfa-10416	108	41	expectations	expectation	NOUN
cjfa-10416	108	42	and	and	CCONJ
cjfa-10416	108	43	their	their	PRON
cjfa-10416	108	44	behaviors	behavior	NOUN
cjfa-10416	108	45	.	.	PUNCT
cjfa-10416	109	1	still	still	ADV
cjfa-10416	109	2	,	,	PUNCT
cjfa-10416	109	3	he	he	PRON
cjfa-10416	109	4	concludes	conclude	VERB
cjfa-10416	109	5	that	that	SCONJ
cjfa-10416	109	6	investors	investor	NOUN
cjfa-10416	109	7	accept	accept	VERB
cjfa-10416	109	8	information	information	NOUN
cjfa-10416	109	9	as	as	ADP
cjfa-10416	109	10	a	a	DET
cjfa-10416	109	11	significant	significant	ADJ
cjfa-10416	109	12	variable	variable	NOUN
cjfa-10416	109	13	,	,	PUNCT
cjfa-10416	109	14	reason	reason	NOUN
cjfa-10416	109	15	enough	enough	ADJ
cjfa-10416	109	16	to	to	PART
cjfa-10416	109	17	justify	justify	VERB
cjfa-10416	109	18	that	that	SCONJ
cjfa-10416	109	19	information	information	NOUN
cjfa-10416	109	20	has	have	VERB
cjfa-10416	109	21	a	a	DET
cjfa-10416	109	22	strong	strong	ADJ
cjfa-10416	109	23	impact	impact	NOUN
cjfa-10416	109	24	on	on	ADP
cjfa-10416	109	25	the	the	DET
cjfa-10416	109	26	changes	change	NOUN
cjfa-10416	109	27	of	of	ADP
cjfa-10416	109	28	volume	volume	NOUN
cjfa-10416	109	29	and	and	CCONJ
cjfa-10416	109	30	stock	stock	NOUN
cjfa-10416	109	31	prices	price	NOUN
cjfa-10416	109	32	.	.	PUNCT
cjfa-10416	110	1	he	he	PRON
cjfa-10416	110	2	identified	identify	VERB
cjfa-10416	110	3	a	a	DET
cjfa-10416	110	4	change	change	NOUN
cjfa-10416	110	5	on	on	ADP
cjfa-10416	110	6	stock	stock	NOUN
cjfa-10416	110	7	prices	price	NOUN
cjfa-10416	110	8	during	during	ADP
cjfa-10416	110	9	the	the	DET
cjfa-10416	110	10	week	week	NOUN
cjfa-10416	110	11	’s	’s	PART
cjfa-10416	110	12	announcement	announcement	NOUN
cjfa-10416	110	13	67	67	NUM
cjfa-10416	110	14	%	%	NOUN
cjfa-10416	110	15	higher	high	ADJ
cjfa-10416	110	16	than	than	ADP
cjfa-10416	110	17	the	the	DET
cjfa-10416	110	18	average	average	NOUN
cjfa-10416	110	19	of	of	ADP
cjfa-10416	110	20	stock	stock	NOUN
cjfa-10416	110	21	prices	price	NOUN
cjfa-10416	110	22	in	in	ADP
cjfa-10416	110	23	the	the	DET
cjfa-10416	110	24	period	period	NOUN
cjfa-10416	110	25	when	when	SCONJ
cjfa-10416	110	26	the	the	DET
cjfa-10416	110	27	announcement	announcement	NOUN
cjfa-10416	110	28	did	do	AUX
cjfa-10416	110	29	n’t	not	PART
cjfa-10416	110	30	occur	occur	VERB
cjfa-10416	110	31	.	.	PUNCT
cjfa-10416	111	1	moreover	moreover	ADV
cjfa-10416	111	2	,	,	PUNCT
cjfa-10416	111	3	that	that	DET
cjfa-10416	111	4	abnormal	abnormal	ADJ
cjfa-10416	111	5	activity	activity	NOUN
cjfa-10416	111	6	lasted	last	VERB
cjfa-10416	111	7	until	until	ADP
cjfa-10416	111	8	the	the	DET
cjfa-10416	111	9	periods	period	NOUN
cjfa-10416	111	10	after	after	ADP
cjfa-10416	111	11	the	the	DET
cjfa-10416	111	12	announcement	announcement	NOUN
cjfa-10416	111	13	with	with	ADP
cjfa-10416	111	14	replicas	replica	NOUN
cjfa-10416	111	15	,	,	PUNCT
cjfa-10416	111	16	obtaining	obtain	VERB
cjfa-10416	111	17	a	a	DET
cjfa-10416	111	18	10	10	NUM
cjfa-10416	111	19	%	%	NOUN
cjfa-10416	111	20	to	to	PART
cjfa-10416	111	21	15	15	NUM
cjfa-10416	111	22	%	%	NOUN
cjfa-10416	111	23	change	change	NOUN
cjfa-10416	111	24	,	,	PUNCT
cjfa-10416	111	25	in	in	ADP
cjfa-10416	111	26	the	the	DET
cjfa-10416	111	27	two	two	NUM
cjfa-10416	111	28	weeks	week	NOUN
cjfa-10416	111	29	after	after	ADP
cjfa-10416	111	30	the	the	DET
cjfa-10416	111	31	announcement	announcement	NOUN
cjfa-10416	111	32	.	.	PUNCT
cjfa-10416	112	1	ball	ball	NOUN
cjfa-10416	112	2	and	and	CCONJ
cjfa-10416	112	3	brown	brown	ADJ
cjfa-10416	112	4	(	(	PUNCT
cjfa-10416	112	5	1968	1968	NUM
cjfa-10416	112	6	)	)	PUNCT
cjfa-10416	112	7	used	use	VERB
cjfa-10416	112	8	the	the	DET
cjfa-10416	112	9	linear	linear	ADJ
cjfa-10416	112	10	regression	regression	NOUN
cjfa-10416	112	11	model	model	NOUN
cjfa-10416	112	12	and	and	CCONJ
cjfa-10416	112	13	the	the	DET
cjfa-10416	112	14	naive	naive	ADJ
cjfa-10416	112	15	model	model	NOUN
cjfa-10416	112	16	,	,	PUNCT
cjfa-10416	112	17	predicting	predict	VERB
cjfa-10416	112	18	that	that	SCONJ
cjfa-10416	112	19	earnings	earning	NOUN
cjfa-10416	112	20	per	per	ADP
cjfa-10416	112	21	share	share	NOUN
cjfa-10416	112	22	of	of	ADP
cjfa-10416	112	23	the	the	DET
cjfa-10416	112	24	current	current	ADJ
cjfa-10416	112	25	year	year	NOUN
cjfa-10416	112	26	wo	will	AUX
cjfa-10416	112	27	n’t	not	PART
cjfa-10416	112	28	be	be	AUX
cjfa-10416	112	29	different	different	ADJ
cjfa-10416	112	30	from	from	ADP
cjfa-10416	112	31	the	the	DET
cjfa-10416	112	32	earnings	earning	NOUN
cjfa-10416	112	33	per	per	ADP
cjfa-10416	112	34	share	share	NOUN
cjfa-10416	112	35	of	of	ADP
cjfa-10416	112	36	the	the	DET
cjfa-10416	112	37	previous	previous	ADJ
cjfa-10416	112	38	year	year	NOUN
cjfa-10416	112	39	,	,	PUNCT
cjfa-10416	112	40	in	in	ADP
cjfa-10416	112	41	order	order	NOUN
cjfa-10416	112	42	to	to	PART
cjfa-10416	112	43	identify	identify	VERB
cjfa-10416	112	44	good	good	ADJ
cjfa-10416	112	45	or	or	CCONJ
cjfa-10416	112	46	bad	bad	ADJ
cjfa-10416	112	47	announcements	announcement	NOUN
cjfa-10416	112	48	in	in	ADP
cjfa-10416	112	49	terms	term	NOUN
cjfa-10416	112	50	of	of	ADP
cjfa-10416	112	51	earnings	earning	NOUN
cjfa-10416	112	52	per	per	ADP
cjfa-10416	112	53	share	share	NOUN
cjfa-10416	112	54	.	.	PUNCT
cjfa-10416	113	1	they	they	PRON
cjfa-10416	113	2	divided	divide	VERB
cjfa-10416	113	3	the	the	DET
cjfa-10416	113	4	sample	sample	NOUN
cjfa-10416	113	5	into	into	ADP
cjfa-10416	113	6	two	two	NUM
cjfa-10416	113	7	parts	part	NOUN
cjfa-10416	113	8	:	:	PUNCT
cjfa-10416	113	9	moments	moment	NOUN
cjfa-10416	113	10	in	in	ADP
cjfa-10416	113	11	which	which	PRON
cjfa-10416	113	12	residual	residual	ADJ
cjfa-10416	113	13	earnings	earning	NOUN
cjfa-10416	113	14	were	be	AUX
cjfa-10416	113	15	positive	positive	ADJ
cjfa-10416	113	16	(	(	PUNCT
cjfa-10416	113	17	the	the	DET
cjfa-10416	113	18	observed	observed	ADJ
cjfa-10416	113	19	earnings	earning	NOUN
cjfa-10416	113	20	were	be	AUX
cjfa-10416	113	21	higher	high	ADJ
cjfa-10416	113	22	than	than	ADP
cjfa-10416	113	23	the	the	DET
cjfa-10416	113	24	predicted	predict	VERB
cjfa-10416	113	25	ones	one	NOUN
cjfa-10416	113	26	)	)	PUNCT
cjfa-10416	113	27	and	and	CCONJ
cjfa-10416	113	28	in	in	ADP
cjfa-10416	113	29	instants	instant	NOUN
cjfa-10416	113	30	in	in	ADP
cjfa-10416	113	31	which	which	PRON
cjfa-10416	113	32	residual	residual	ADJ
cjfa-10416	113	33	earnings	earning	NOUN
cjfa-10416	113	34	were	be	AUX
cjfa-10416	113	35	negative	negative	ADJ
cjfa-10416	113	36	(	(	PUNCT
cjfa-10416	113	37	the	the	DET
cjfa-10416	113	38	predicted	predict	VERB
cjfa-10416	113	39	earnings	earning	NOUN
cjfa-10416	113	40	were	be	AUX
cjfa-10416	113	41	higher	high	ADJ
cjfa-10416	113	42	than	than	ADP
cjfa-10416	113	43	the	the	DET
cjfa-10416	113	44	observed	observe	VERB
cjfa-10416	113	45	ones	one	NOUN
cjfa-10416	113	46	)	)	PUNCT
cjfa-10416	113	47	.	.	PUNCT
cjfa-10416	114	1	the	the	DET
cjfa-10416	114	2	results	result	NOUN
cjfa-10416	114	3	showed	show	VERB
cjfa-10416	114	4	that	that	SCONJ
cjfa-10416	114	5	,	,	PUNCT
cjfa-10416	114	6	although	although	SCONJ
cjfa-10416	114	7	the	the	DET
cjfa-10416	114	8	larger	large	ADJ
cjfa-10416	114	9	part	part	NOUN
cjfa-10416	114	10	of	of	ADP
cjfa-10416	114	11	the	the	DET
cjfa-10416	114	12	price	price	NOUN
cjfa-10416	114	13	changes	change	NOUN
cjfa-10416	114	14	occurred	occur	VERB
cjfa-10416	114	15	before	before	ADP
cjfa-10416	114	16	the	the	DET
cjfa-10416	114	17	announcement	announcement	NOUN
cjfa-10416	114	18	,	,	PUNCT
cjfa-10416	114	19	10	10	NUM
cjfa-10416	114	20	%	%	NOUN
cjfa-10416	114	21	to	to	PART
cjfa-10416	114	22	15	15	NUM
cjfa-10416	114	23	%	%	NOUN
cjfa-10416	114	24	of	of	ADP
cjfa-10416	114	25	the	the	DET
cjfa-10416	114	26	price	price	NOUN
cjfa-10416	114	27	changes	change	NOUN
cjfa-10416	114	28	occurred	occur	VERB
cjfa-10416	114	29	on	on	ADP
cjfa-10416	114	30	the	the	DET
cjfa-10416	114	31	month	month	NOUN
cjfa-10416	114	32	’s	’s	PART
cjfa-10416	114	33	announcement	announcement	NOUN
cjfa-10416	114	34	.	.	PUNCT
cjfa-10416	115	1	bradley	bradley	PROPN
cjfa-10416	115	2	et	et	PROPN
cjfa-10416	115	3	al	al	PROPN
cjfa-10416	115	4	.	.	PROPN
cjfa-10416	116	1	(	(	PUNCT
cjfa-10416	116	2	1988	1988	NUM
cjfa-10416	116	3	)	)	PUNCT
cjfa-10416	116	4	showed	show	VERB
cjfa-10416	116	5	evidence	evidence	NOUN
cjfa-10416	116	6	on	on	ADP
cjfa-10416	116	7	the	the	DET
cjfa-10416	116	8	earnings	earning	NOUN
cjfa-10416	116	9	of	of	ADP
cjfa-10416	116	10	target	target	NOUN
cjfa-10416	116	11	companies	company	NOUN
cjfa-10416	116	12	involved	involve	VERB
cjfa-10416	116	13	in	in	ADP
cjfa-10416	116	14	takeover	takeover	NOUN
cjfa-10416	116	15	bids	bid	NOUN
cjfa-10416	116	16	.	.	PUNCT
cjfa-10416	117	1	in	in	ADP
cjfa-10416	117	2	a	a	DET
cjfa-10416	117	3	study	study	NOUN
cjfa-10416	117	4	on	on	ADP
cjfa-10416	117	5	236	236	NUM
cjfa-10416	117	6	bids	bid	NOUN
cjfa-10416	117	7	occurred	occur	VERB
cjfa-10416	117	8	in	in	ADP
cjfa-10416	117	9	the	the	DET
cjfa-10416	117	10	united	united	PROPN
cjfa-10416	117	11	states	states	PROPN
cjfa-10416	117	12	over	over	ADP
cjfa-10416	117	13	a	a	DET
cjfa-10416	117	14	21	21	NUM
cjfa-10416	117	15	year	year	NOUN
cjfa-10416	117	16	-	-	PUNCT
cjfa-10416	117	17	period	period	NOUN
cjfa-10416	117	18	,	,	PUNCT
cjfa-10416	117	19	they	they	PRON
cjfa-10416	117	20	verified	verify	VERB
cjfa-10416	117	21	that	that	SCONJ
cjfa-10416	117	22	the	the	DET
cjfa-10416	117	23	share	share	NOUN
cjfa-10416	117	24	value	value	NOUN
cjfa-10416	117	25	of	of	ADP
cjfa-10416	117	26	these	these	DET
cjfa-10416	117	27	companies	company	NOUN
cjfa-10416	117	28	increased	increase	VERB
cjfa-10416	117	29	35	35	NUM
cjfa-10416	117	30	%	%	NOUN
cjfa-10416	117	31	,	,	PUNCT
cjfa-10416	117	32	in	in	ADP
cjfa-10416	117	33	average	average	ADJ
cjfa-10416	117	34	.	.	PUNCT
cjfa-10416	118	1	a	a	DET
cjfa-10416	118	2	short	short	ADJ
cjfa-10416	118	3	time	time	NOUN
cjfa-10416	118	4	later	later	ADV
cjfa-10416	118	5	,	,	PUNCT
cjfa-10416	118	6	eckbo	eckbo	PROPN
cjfa-10416	118	7	&	&	CCONJ
cjfa-10416	118	8	langhor	langhor	PROPN
cjfa-10416	118	9	(	(	PUNCT
cjfa-10416	118	10	1989	1989	NUM
cjfa-10416	118	11	)	)	PUNCT
cjfa-10416	118	12	studied	study	VERB
cjfa-10416	118	13	90	90	NUM
cjfa-10416	118	14	takeover	takeover	NOUN
cjfa-10416	118	15	bids	bid	NOUN
cjfa-10416	118	16	in	in	ADP
cjfa-10416	118	17	france	france	PROPN
cjfa-10416	118	18	and	and	CCONJ
cjfa-10416	118	19	also	also	ADV
cjfa-10416	118	20	concluded	conclude	VERB
cjfa-10416	118	21	the	the	DET
cjfa-10416	118	22	impact	impact	NOUN
cjfa-10416	118	23	of	of	ADP
cjfa-10416	118	24	the	the	DET
cjfa-10416	118	25	preliminary	preliminary	ADJ
cjfa-10416	118	26	announcement	announcement	NOUN
cjfa-10416	118	27	…	…	PUNCT
cjfa-10416	118	28	47	47	NUM
cjfa-10416	118	29	that	that	SCONJ
cjfa-10416	118	30	the	the	DET
cjfa-10416	118	31	share	share	NOUN
cjfa-10416	118	32	value	value	NOUN
cjfa-10416	118	33	of	of	ADP
cjfa-10416	118	34	the	the	DET
cjfa-10416	118	35	target	target	NOUN
cjfa-10416	118	36	companies	company	NOUN
cjfa-10416	118	37	increased	increase	VERB
cjfa-10416	118	38	16.5	16.5	NUM
cjfa-10416	118	39	%	%	NOUN
cjfa-10416	118	40	,	,	PUNCT
cjfa-10416	118	41	in	in	ADP
cjfa-10416	118	42	average	average	ADJ
cjfa-10416	118	43	.	.	PUNCT
cjfa-10416	119	1	even	even	ADV
cjfa-10416	119	2	in	in	ADP
cjfa-10416	119	3	those	those	DET
cjfa-10416	119	4	cases	case	NOUN
cjfa-10416	119	5	when	when	SCONJ
cjfa-10416	119	6	the	the	DET
cjfa-10416	119	7	bid	bid	NOUN
cjfa-10416	119	8	failed	fail	VERB
cjfa-10416	119	9	,	,	PUNCT
cjfa-10416	119	10	the	the	DET
cjfa-10416	119	11	stock	stock	NOUN
cjfa-10416	119	12	prices	price	NOUN
cjfa-10416	119	13	tend	tend	VERB
cjfa-10416	119	14	to	to	PART
cjfa-10416	119	15	maintain	maintain	VERB
cjfa-10416	119	16	a	a	DET
cjfa-10416	119	17	high	high	ADJ
cjfa-10416	119	18	value	value	NOUN
cjfa-10416	119	19	,	,	PUNCT
cjfa-10416	119	20	due	due	ADP
cjfa-10416	119	21	to	to	ADP
cjfa-10416	119	22	the	the	DET
cjfa-10416	119	23	possibility	possibility	NOUN
cjfa-10416	119	24	of	of	ADP
cjfa-10416	119	25	occurrence	occurrence	NOUN
cjfa-10416	119	26	of	of	ADP
cjfa-10416	119	27	a	a	DET
cjfa-10416	119	28	new	new	ADJ
cjfa-10416	119	29	bid	bid	NOUN
cjfa-10416	119	30	,	,	PUNCT
cjfa-10416	119	31	of	of	ADP
cjfa-10416	119	32	occurring	occur	VERB
cjfa-10416	119	33	changes	change	NOUN
cjfa-10416	119	34	in	in	ADP
cjfa-10416	119	35	the	the	DET
cjfa-10416	119	36	management	management	NOUN
cjfa-10416	119	37	policies	policy	NOUN
cjfa-10416	119	38	and	and	CCONJ
cjfa-10416	119	39	the	the	DET
cjfa-10416	119	40	chance	chance	NOUN
cjfa-10416	119	41	of	of	ADP
cjfa-10416	119	42	the	the	DET
cjfa-10416	119	43	bid	bid	NOUN
cjfa-10416	119	44	to	to	PART
cjfa-10416	119	45	be	be	AUX
cjfa-10416	119	46	indicative	indicative	ADJ
cjfa-10416	119	47	of	of	ADP
cjfa-10416	119	48	information3	information3	NOUN
cjfa-10416	119	49	(	(	PUNCT
cjfa-10416	119	50	bradley	bradley	PROPN
cjfa-10416	119	51	et	et	PROPN
cjfa-10416	119	52	al	al	PROPN
cjfa-10416	119	53	.	.	PROPN
cjfa-10416	119	54	1988	1988	NUM
cjfa-10416	119	55	)	)	PUNCT
cjfa-10416	119	56	.	.	PUNCT
cjfa-10416	120	1	jensen	jensen	PROPN
cjfa-10416	120	2	and	and	CCONJ
cjfa-10416	120	3	ruback	ruback	PROPN
cjfa-10416	120	4	(	(	PUNCT
cjfa-10416	120	5	1983	1983	NUM
cjfa-10416	120	6	)	)	PUNCT
cjfa-10416	120	7	show	show	VERB
cjfa-10416	120	8	that	that	SCONJ
cjfa-10416	120	9	the	the	DET
cjfa-10416	120	10	target	target	NOUN
cjfa-10416	120	11	companies	company	NOUN
cjfa-10416	120	12	earn	earn	VERB
cjfa-10416	120	13	positive	positive	ADJ
cjfa-10416	120	14	abnormal	abnormal	ADJ
cjfa-10416	120	15	returns	return	NOUN
cjfa-10416	120	16	on	on	ADP
cjfa-10416	120	17	the	the	DET
cjfa-10416	120	18	month	month	NOUN
cjfa-10416	120	19	’s	’s	PART
cjfa-10416	120	20	bid	bid	NOUN
cjfa-10416	120	21	announcement	announcement	NOUN
cjfa-10416	120	22	both	both	CCONJ
cjfa-10416	120	23	in	in	ADP
cjfa-10416	120	24	successful	successful	ADJ
cjfa-10416	120	25	bids	bid	NOUN
cjfa-10416	120	26	and	and	CCONJ
cjfa-10416	120	27	unsuccessful	unsuccessful	ADJ
cjfa-10416	120	28	bids	bid	NOUN
cjfa-10416	120	29	.	.	PUNCT
cjfa-10416	121	1	in	in	ADP
cjfa-10416	121	2	the	the	DET
cjfa-10416	121	3	case	case	NOUN
cjfa-10416	121	4	of	of	ADP
cjfa-10416	121	5	unsuccessful	unsuccessful	ADJ
cjfa-10416	121	6	bids	bid	NOUN
cjfa-10416	121	7	,	,	PUNCT
cjfa-10416	121	8	companies	company	NOUN
cjfa-10416	121	9	which	which	PRON
cjfa-10416	121	10	have	have	AUX
cjfa-10416	121	11	n’t	not	PART
cjfa-10416	121	12	received	receive	VERB
cjfa-10416	121	13	additional	additional	ADJ
cjfa-10416	121	14	bids	bid	NOUN
cjfa-10416	121	15	,	,	PUNCT
cjfa-10416	121	16	in	in	ADP
cjfa-10416	121	17	the	the	DET
cjfa-10416	121	18	two	two	NUM
cjfa-10416	121	19	years	year	NOUN
cjfa-10416	121	20	following	follow	VERB
cjfa-10416	121	21	,	,	PUNCT
cjfa-10416	121	22	lost	lose	VERB
cjfa-10416	121	23	the	the	DET
cjfa-10416	121	24	returns	return	NOUN
cjfa-10416	121	25	previously	previously	ADV
cjfa-10416	121	26	earned	earn	VERB
cjfa-10416	121	27	;	;	PUNCT
cjfa-10416	121	28	companies	company	NOUN
cjfa-10416	121	29	which	which	PRON
cjfa-10416	121	30	have	have	AUX
cjfa-10416	121	31	received	receive	VERB
cjfa-10416	121	32	additional	additional	ADJ
cjfa-10416	121	33	bids	bid	NOUN
cjfa-10416	121	34	earned	earn	VERB
cjfa-10416	121	35	even	even	ADV
cjfa-10416	121	36	higher	high	ADJ
cjfa-10416	121	37	returns	return	NOUN
cjfa-10416	121	38	than	than	ADP
cjfa-10416	121	39	the	the	DET
cjfa-10416	121	40	ones	one	NOUN
cjfa-10416	121	41	earned	earn	VERB
cjfa-10416	121	42	before	before	ADV
cjfa-10416	121	43	.	.	PUNCT
cjfa-10416	122	1	dodd	dodd	PROPN
cjfa-10416	122	2	and	and	CCONJ
cjfa-10416	122	3	ruback	ruback	PROPN
cjfa-10416	122	4	(	(	PUNCT
cjfa-10416	122	5	1977	1977	NUM
cjfa-10416	122	6	)	)	PUNCT
cjfa-10416	122	7	and	and	CCONJ
cjfa-10416	122	8	affleck	affleck	PROPN
cjfa-10416	122	9	-	-	PUNCT
cjfa-10416	122	10	graves	grave	VERB
cjfa-10416	122	11	et	et	NOUN
cjfa-10416	122	12	al	al	PROPN
cjfa-10416	122	13	.	.	PUNCT
cjfa-10416	123	1	(	(	PUNCT
cjfa-10416	123	2	1988	1988	NUM
cjfa-10416	123	3	)	)	PUNCT
cjfa-10416	123	4	concluded	conclude	VERB
cjfa-10416	123	5	the	the	DET
cjfa-10416	123	6	same	same	ADJ
cjfa-10416	123	7	.	.	PUNCT
cjfa-10416	124	1	the	the	DET
cjfa-10416	124	2	target	target	NOUN
cjfa-10416	124	3	companies	company	NOUN
cjfa-10416	124	4	earned	earn	VERB
cjfa-10416	124	5	positive	positive	ADJ
cjfa-10416	124	6	and	and	CCONJ
cjfa-10416	124	7	significant	significant	ADJ
cjfa-10416	124	8	abnormal	abnormal	ADJ
cjfa-10416	124	9	returns	return	NOUN
cjfa-10416	124	10	,	,	PUNCT
cjfa-10416	124	11	mainly	mainly	ADV
cjfa-10416	124	12	on	on	ADP
cjfa-10416	124	13	the	the	DET
cjfa-10416	124	14	month	month	NOUN
cjfa-10416	124	15	of	of	ADP
cjfa-10416	124	16	the	the	DET
cjfa-10416	124	17	bid	bid	NOUN
cjfa-10416	124	18	.	.	PUNCT
cjfa-10416	125	1	moreover	moreover	ADV
cjfa-10416	125	2	,	,	PUNCT
cjfa-10416	125	3	the	the	DET
cjfa-10416	125	4	target	target	NOUN
cjfa-10416	125	5	company	company	NOUN
cjfa-10416	125	6	’s	’s	PART
cjfa-10416	125	7	returns	return	NOUN
cjfa-10416	125	8	occur	occur	VERB
cjfa-10416	125	9	independently	independently	ADV
cjfa-10416	125	10	of	of	ADP
cjfa-10416	125	11	the	the	DET
cjfa-10416	125	12	success	success	NOUN
cjfa-10416	125	13	of	of	ADP
cjfa-10416	125	14	the	the	DET
cjfa-10416	125	15	bid	bid	NOUN
cjfa-10416	125	16	(	(	PUNCT
cjfa-10416	125	17	dodd	dodd	PROPN
cjfa-10416	125	18	&	&	CCONJ
cjfa-10416	125	19	 	 	SPACE
cjfa-10416	125	20	ruback	ruback	NOUN
cjfa-10416	125	21	1977	1977	NUM
cjfa-10416	125	22	)	)	PUNCT
cjfa-10416	125	23	.	.	PUNCT
cjfa-10416	126	1	regarding	regard	VERB
cjfa-10416	126	2	the	the	DET
cjfa-10416	126	3	takeover	takeover	NOUN
cjfa-10416	126	4	bids	bid	NOUN
cjfa-10416	126	5	’	'	PUNCT
cjfa-10416	126	6	impact	impact	NOUN
cjfa-10416	126	7	over	over	ADP
cjfa-10416	126	8	the	the	DET
cjfa-10416	126	9	returns	return	NOUN
cjfa-10416	126	10	of	of	ADP
cjfa-10416	126	11	the	the	DET
cjfa-10416	126	12	acquiring	acquire	VERB
cjfa-10416	126	13	companies	company	NOUN
cjfa-10416	126	14	,	,	PUNCT
cjfa-10416	126	15	the	the	DET
cjfa-10416	126	16	empirical	empirical	ADJ
cjfa-10416	126	17	evidence	evidence	NOUN
cjfa-10416	126	18	is	be	AUX
cjfa-10416	126	19	n’t	not	PART
cjfa-10416	126	20	unanimous	unanimous	ADJ
cjfa-10416	126	21	.	.	PUNCT
cjfa-10416	127	1	affleck	affleck	NOUN
cjfa-10416	127	2	-	-	PUNCT
cjfa-10416	127	3	graves	grave	VERB
cjfa-10416	127	4	et	et	PROPN
cjfa-10416	127	5	al	al	PROPN
cjfa-10416	127	6	.	.	PUNCT
cjfa-10416	128	1	(	(	PUNCT
cjfa-10416	128	2	1988	1988	NUM
cjfa-10416	128	3	)	)	PUNCT
cjfa-10416	128	4	did	do	AUX
cjfa-10416	128	5	n’t	not	PART
cjfa-10416	128	6	find	find	VERB
cjfa-10416	128	7	positive	positive	ADJ
cjfa-10416	128	8	abnormal	abnormal	ADJ
cjfa-10416	128	9	returns	return	NOUN
cjfa-10416	128	10	for	for	ADP
cjfa-10416	128	11	these	these	DET
cjfa-10416	128	12	companies	company	NOUN
cjfa-10416	128	13	.	.	PUNCT
cjfa-10416	129	1	jensen	jensen	PROPN
cjfa-10416	129	2	and	and	CCONJ
cjfa-10416	129	3	ruback	ruback	PROPN
cjfa-10416	129	4	(	(	PUNCT
cjfa-10416	129	5	1983	1983	NUM
cjfa-10416	129	6	)	)	PUNCT
cjfa-10416	129	7	found	find	VERB
cjfa-10416	129	8	evidence	evidence	NOUN
cjfa-10416	129	9	that	that	SCONJ
cjfa-10416	129	10	the	the	DET
cjfa-10416	129	11	acquiring	acquire	VERB
cjfa-10416	129	12	companies	company	NOUN
cjfa-10416	129	13	do	do	AUX
cjfa-10416	129	14	n’t	not	PART
cjfa-10416	129	15	lose	lose	VERB
cjfa-10416	129	16	.	.	PUNCT
cjfa-10416	130	1	dodd	dodd	PROPN
cjfa-10416	130	2	and	and	CCONJ
cjfa-10416	130	3	ruback	ruback	PROPN
cjfa-10416	130	4	(	(	PUNCT
cjfa-10416	130	5	1977	1977	NUM
cjfa-10416	130	6	)	)	PUNCT
cjfa-10416	130	7	concluded	conclude	VERB
cjfa-10416	130	8	that	that	SCONJ
cjfa-10416	130	9	,	,	PUNCT
cjfa-10416	130	10	in	in	ADP
cjfa-10416	130	11	the	the	DET
cjfa-10416	130	12	twelve	twelve	NUM
cjfa-10416	130	13	months	month	NOUN
cjfa-10416	130	14	before	before	ADP
cjfa-10416	130	15	the	the	DET
cjfa-10416	130	16	bid	bid	NOUN
cjfa-10416	130	17	,	,	PUNCT
cjfa-10416	130	18	the	the	DET
cjfa-10416	130	19	shareholders	shareholder	NOUN
cjfa-10416	130	20	of	of	ADP
cjfa-10416	130	21	the	the	DET
cjfa-10416	130	22	acquiring	acquire	VERB
cjfa-10416	130	23	companies	company	NOUN
cjfa-10416	130	24	earned	earn	VERB
cjfa-10416	130	25	positive	positive	ADJ
cjfa-10416	130	26	and	and	CCONJ
cjfa-10416	130	27	significant	significant	ADJ
cjfa-10416	130	28	abnormal	abnormal	ADJ
cjfa-10416	130	29	returns	return	NOUN
cjfa-10416	130	30	.	.	PUNCT
cjfa-10416	131	1	asquith	asquith	PROPN
cjfa-10416	131	2	and	and	CCONJ
cjfa-10416	131	3	kim	kim	PROPN
cjfa-10416	131	4	(	(	PUNCT
cjfa-10416	131	5	1982	1982	NUM
cjfa-10416	131	6	)	)	PUNCT
cjfa-10416	131	7	affirm	affirm	NOUN
cjfa-10416	131	8	that	that	SCONJ
cjfa-10416	131	9	the	the	DET
cjfa-10416	131	10	acquiring	acquire	VERB
cjfa-10416	131	11	companies	company	NOUN
cjfa-10416	131	12	earned	earn	VERB
cjfa-10416	131	13	negative	negative	ADJ
cjfa-10416	131	14	and	and	CCONJ
cjfa-10416	131	15	insignificant	insignificant	ADJ
cjfa-10416	131	16	abnormal	abnormal	ADJ
cjfa-10416	131	17	returns	return	NOUN
cjfa-10416	131	18	during	during	ADP
cjfa-10416	131	19	the	the	DET
cjfa-10416	131	20	announcement	announcement	NOUN
cjfa-10416	131	21	period	period	NOUN
cjfa-10416	131	22	,	,	PUNCT
cjfa-10416	131	23	in	in	ADP
cjfa-10416	131	24	conglomerated	conglomerate	VERB
cjfa-10416	131	25	bids	bid	NOUN
cjfa-10416	131	26	.	.	PUNCT
cjfa-10416	132	1	agrawal	agrawal	PROPN
cjfa-10416	132	2	et	et	PROPN
cjfa-10416	132	3	al	al	PROPN
cjfa-10416	132	4	.	.	PROPN
cjfa-10416	133	1	(	(	PUNCT
cjfa-10416	133	2	1992	1992	NUM
cjfa-10416	133	3	)	)	PUNCT
cjfa-10416	133	4	analyzed	analyze	VERB
cjfa-10416	133	5	the	the	DET
cjfa-10416	133	6	abnormal	abnormal	ADJ
cjfa-10416	133	7	performance	performance	NOUN
cjfa-10416	133	8	of	of	ADP
cjfa-10416	133	9	the	the	DET
cjfa-10416	133	10	stocks	stock	NOUN
cjfa-10416	133	11	,	,	PUNCT
cjfa-10416	133	12	mainly	mainly	ADV
cjfa-10416	133	13	in	in	ADP
cjfa-10416	133	14	mergers	merger	NOUN
cjfa-10416	133	15	.	.	PUNCT
cjfa-10416	134	1	they	they	PRON
cjfa-10416	134	2	concluded	conclude	VERB
cjfa-10416	134	3	that	that	SCONJ
cjfa-10416	134	4	the	the	DET
cjfa-10416	134	5	acquiring	acquire	VERB
cjfa-10416	134	6	companies	company	NOUN
cjfa-10416	134	7	had	have	VERB
cjfa-10416	134	8	an	an	DET
cjfa-10416	134	9	underperformance	underperformance	NOUN
cjfa-10416	134	10	after	after	ADP
cjfa-10416	134	11	the	the	DET
cjfa-10416	134	12	merger	merger	NOUN
cjfa-10416	134	13	,	,	PUNCT
cjfa-10416	134	14	losing	lose	VERB
cjfa-10416	134	15	almost	almost	ADV
cjfa-10416	134	16	10	10	NUM
cjfa-10416	134	17	%	%	NOUN
cjfa-10416	134	18	of	of	ADP
cjfa-10416	134	19	the	the	DET
cjfa-10416	134	20	wealth	wealth	NOUN
cjfa-10416	134	21	,	,	PUNCT
cjfa-10416	134	22	in	in	ADP
cjfa-10416	134	23	the	the	DET
cjfa-10416	134	24	bid	bid	NOUN
cjfa-10416	134	25	’s	’s	PART
cjfa-10416	134	26	subsequent	subsequent	ADJ
cjfa-10416	134	27	five	five	NUM
cjfa-10416	134	28	years	year	NOUN
cjfa-10416	134	29	.	.	PUNCT
cjfa-10416	135	1	objectives	objective	NOUN
cjfa-10416	135	2	and	and	CCONJ
cjfa-10416	135	3	hypothesis	hypothesis	VERB
cjfa-10416	135	4	the	the	DET
cjfa-10416	135	5	purpose	purpose	NOUN
cjfa-10416	135	6	of	of	ADP
cjfa-10416	135	7	the	the	DET
cjfa-10416	135	8	empirical	empirical	ADJ
cjfa-10416	135	9	research	research	NOUN
cjfa-10416	135	10	is	be	AUX
cjfa-10416	135	11	to	to	PART
cjfa-10416	135	12	understand	understand	VERB
cjfa-10416	135	13	and	and	CCONJ
cjfa-10416	135	14	prove	prove	VERB
cjfa-10416	135	15	the	the	DET
cjfa-10416	135	16	impact	impact	NOUN
cjfa-10416	135	17	of	of	ADP
cjfa-10416	135	18	the	the	DET
cjfa-10416	135	19	preliminary	preliminary	ADJ
cjfa-10416	135	20	announcement	announcement	NOUN
cjfa-10416	135	21	on	on	ADP
cjfa-10416	135	22	the	the	DET
cjfa-10416	135	23	abnormal	abnormal	ADJ
cjfa-10416	135	24	returns	return	NOUN
cjfa-10416	135	25	of	of	ADP
cjfa-10416	135	26	the	the	DET
cjfa-10416	135	27	companies	company	NOUN
cjfa-10416	135	28	’	'	PUNCT
cjfa-10416	135	29	3	3	NUM
cjfa-10416	135	30	 	 	SPACE
cjfa-10416	135	31	the	the	DET
cjfa-10416	135	32	takeover	takeover	NOUN
cjfa-10416	135	33	bids	bid	NOUN
cjfa-10416	135	34	are	be	AUX
cjfa-10416	135	35	indicative	indicative	ADJ
cjfa-10416	135	36	of	of	ADP
cjfa-10416	135	37	information	information	NOUN
cjfa-10416	135	38	when	when	SCONJ
cjfa-10416	135	39	there	there	PRON
cjfa-10416	135	40	is	be	VERB
cjfa-10416	135	41	asymmetry	asymmetry	NOUN
cjfa-10416	135	42	of	of	ADP
cjfa-10416	135	43	information	information	NOUN
cjfa-10416	135	44	between	between	ADP
cjfa-10416	135	45	the	the	DET
cjfa-10416	135	46	management	management	NOUN
cjfa-10416	135	47	of	of	ADP
cjfa-10416	135	48	target	target	NOUN
cjfa-10416	135	49	companies	company	NOUN
cjfa-10416	135	50	and	and	CCONJ
cjfa-10416	135	51	its	its	PRON
cjfa-10416	135	52	shareholders	shareholder	NOUN
cjfa-10416	135	53	,	,	PUNCT
cjfa-10416	135	54	leading	lead	VERB
cjfa-10416	135	55	to	to	ADP
cjfa-10416	135	56	an	an	DET
cjfa-10416	135	57	undervaluation	undervaluation	NOUN
cjfa-10416	135	58	of	of	ADP
cjfa-10416	135	59	these	these	DET
cjfa-10416	135	60	companies	company	NOUN
cjfa-10416	135	61	.	.	PUNCT
cjfa-10416	136	1	the	the	DET
cjfa-10416	136	2	acquiring	acquire	VERB
cjfa-10416	136	3	company	company	NOUN
cjfa-10416	136	4	,	,	PUNCT
cjfa-10416	136	5	with	with	ADP
cjfa-10416	136	6	more	more	ADJ
cjfa-10416	136	7	information	information	NOUN
cjfa-10416	136	8	,	,	PUNCT
cjfa-10416	136	9	tries	try	VERB
cjfa-10416	136	10	to	to	PART
cjfa-10416	136	11	benefit	benefit	VERB
cjfa-10416	136	12	with	with	ADP
cjfa-10416	136	13	bid	bid	NOUN
cjfa-10416	136	14	(	(	PUNCT
cjfa-10416	136	15	bradley	bradley	PROPN
cjfa-10416	136	16	et	et	PROPN
cjfa-10416	136	17	al	al	PROPN
cjfa-10416	136	18	.	.	PROPN
cjfa-10416	136	19	1988	1988	NUM
cjfa-10416	136	20	)	)	PUNCT
cjfa-10416	136	21	.	.	PUNCT
cjfa-10416	137	1	joão	joão	PROPN
cjfa-10416	137	2	paulo	paulo	PROPN
cjfa-10416	137	3	braga	braga	PROPN
cjfa-10416	137	4	,	,	PUNCT
cjfa-10416	137	5	luís	luís	PROPN
cjfa-10416	137	6	m.	m.	PROPN
cjfa-10416	137	7	pereira	pereira	PROPN
cjfa-10416	137	8	gomes48	gomes48	PROPN
cjfa-10416	137	9	stocks	stock	NOUN
cjfa-10416	137	10	involved	involve	VERB
cjfa-10416	137	11	in	in	ADP
cjfa-10416	137	12	takeover	takeover	NOUN
cjfa-10416	137	13	bids	bid	NOUN
cjfa-10416	137	14	,	,	PUNCT
cjfa-10416	137	15	in	in	ADP
cjfa-10416	137	16	the	the	DET
cjfa-10416	137	17	portuguese	portuguese	ADJ
cjfa-10416	137	18	stock	stock	NOUN
cjfa-10416	137	19	market	market	NOUN
cjfa-10416	137	20	between	between	ADP
cjfa-10416	137	21	2000	2000	NUM
cjfa-10416	137	22	and	and	CCONJ
cjfa-10416	137	23	2014	2014	NUM
cjfa-10416	137	24	.	.	PUNCT
cjfa-10416	138	1	there	there	PRON
cjfa-10416	138	2	is	be	VERB
cjfa-10416	138	3	the	the	DET
cjfa-10416	138	4	intent	intent	NOUN
cjfa-10416	138	5	to	to	PART
cjfa-10416	138	6	analyze	analyze	VERB
cjfa-10416	138	7	the	the	DET
cjfa-10416	138	8	price	price	NOUN
cjfa-10416	138	9	reaction	reaction	NOUN
cjfa-10416	138	10	to	to	ADP
cjfa-10416	138	11	the	the	DET
cjfa-10416	138	12	disclosure	disclosure	NOUN
cjfa-10416	138	13	of	of	ADP
cjfa-10416	138	14	intent	intent	NOUN
cjfa-10416	138	15	to	to	PART
cjfa-10416	138	16	buy	buy	VERB
cjfa-10416	138	17	and	and	CCONJ
cjfa-10416	138	18	the	the	DET
cjfa-10416	138	19	behavior	behavior	NOUN
cjfa-10416	138	20	of	of	ADP
cjfa-10416	138	21	abnormal	abnormal	ADJ
cjfa-10416	138	22	returns	return	NOUN
cjfa-10416	138	23	in	in	ADP
cjfa-10416	138	24	the	the	DET
cjfa-10416	138	25	period	period	NOUN
cjfa-10416	138	26	after	after	ADP
cjfa-10416	138	27	the	the	DET
cjfa-10416	138	28	bid	bid	NOUN
cjfa-10416	138	29	,	,	PUNCT
cjfa-10416	138	30	in	in	ADP
cjfa-10416	138	31	order	order	NOUN
cjfa-10416	138	32	to	to	PART
cjfa-10416	138	33	identify	identify	VERB
cjfa-10416	138	34	those	those	DET
cjfa-10416	138	35	companies	company	NOUN
cjfa-10416	138	36	which	which	PRON
cjfa-10416	138	37	gain	gain	VERB
cjfa-10416	138	38	and	and	CCONJ
cjfa-10416	138	39	those	those	PRON
cjfa-10416	138	40	which	which	PRON
cjfa-10416	138	41	lose	lose	VERB
cjfa-10416	138	42	with	with	ADP
cjfa-10416	138	43	this	this	DET
cjfa-10416	138	44	strategy	strategy	NOUN
cjfa-10416	138	45	of	of	ADP
cjfa-10416	138	46	growth	growth	NOUN
cjfa-10416	138	47	.	.	PUNCT
cjfa-10416	139	1	to	to	PART
cjfa-10416	139	2	develop	develop	VERB
cjfa-10416	139	3	the	the	DET
cjfa-10416	139	4	empirical	empirical	ADJ
cjfa-10416	139	5	research	research	NOUN
cjfa-10416	139	6	,	,	PUNCT
cjfa-10416	139	7	taking	take	VERB
cjfa-10416	139	8	into	into	ADP
cjfa-10416	139	9	account	account	NOUN
cjfa-10416	139	10	the	the	DET
cjfa-10416	139	11	final	final	ADJ
cjfa-10416	139	12	objective	objective	NOUN
cjfa-10416	139	13	of	of	ADP
cjfa-10416	139	14	this	this	DET
cjfa-10416	139	15	paper	paper	NOUN
cjfa-10416	139	16	,	,	PUNCT
cjfa-10416	139	17	a	a	DET
cjfa-10416	139	18	number	number	NOUN
cjfa-10416	139	19	of	of	ADP
cjfa-10416	139	20	working	work	VERB
cjfa-10416	139	21	hypothesis	hypothesis	NOUN
cjfa-10416	139	22	were	be	AUX
cjfa-10416	139	23	included	include	VERB
cjfa-10416	139	24	.	.	PUNCT
cjfa-10416	140	1	the	the	DET
cjfa-10416	140	2	five	five	NUM
cjfa-10416	140	3	working	work	VERB
cjfa-10416	140	4	hypotheses	hypothesis	NOUN
cjfa-10416	140	5	are	be	AUX
cjfa-10416	140	6	:	:	PUNCT
cjfa-10416	140	7	h1	h1	PROPN
cjfa-10416	140	8	:	:	PUNCT
cjfa-10416	140	9	the	the	DET
cjfa-10416	140	10	preliminary	preliminary	ADJ
cjfa-10416	140	11	announcement	announcement	NOUN
cjfa-10416	140	12	of	of	ADP
cjfa-10416	140	13	the	the	DET
cjfa-10416	140	14	takeover	takeover	NOUN
cjfa-10416	140	15	bid	bid	NOUN
cjfa-10416	140	16	has	have	VERB
cjfa-10416	140	17	a	a	DET
cjfa-10416	140	18	negative	negative	ADJ
cjfa-10416	140	19	impact	impact	NOUN
cjfa-10416	140	20	on	on	ADP
cjfa-10416	140	21	the	the	DET
cjfa-10416	140	22	average	average	ADJ
cjfa-10416	140	23	abnormal	abnormal	ADJ
cjfa-10416	140	24	returns	return	NOUN
cjfa-10416	140	25	of	of	ADP
cjfa-10416	140	26	the	the	DET
cjfa-10416	140	27	acquiring	acquire	VERB
cjfa-10416	140	28	companies	company	NOUN
cjfa-10416	140	29	h2	h2	NOUN
cjfa-10416	140	30	:	:	PUNCT
cjfa-10416	140	31	the	the	DET
cjfa-10416	140	32	preliminary	preliminary	ADJ
cjfa-10416	140	33	announcement	announcement	NOUN
cjfa-10416	140	34	of	of	ADP
cjfa-10416	140	35	the	the	DET
cjfa-10416	140	36	takeover	takeover	NOUN
cjfa-10416	140	37	bid	bid	NOUN
cjfa-10416	140	38	has	have	VERB
cjfa-10416	140	39	a	a	DET
cjfa-10416	140	40	positive	positive	ADJ
cjfa-10416	140	41	impact	impact	NOUN
cjfa-10416	140	42	on	on	ADP
cjfa-10416	140	43	the	the	DET
cjfa-10416	140	44	average	average	ADJ
cjfa-10416	140	45	abnormal	abnormal	ADJ
cjfa-10416	140	46	returns	return	NOUN
cjfa-10416	140	47	of	of	ADP
cjfa-10416	140	48	the	the	DET
cjfa-10416	140	49	target	target	NOUN
cjfa-10416	140	50	companies	company	NOUN
cjfa-10416	140	51	h3	h3	VERB
cjfa-10416	140	52	:	:	PUNCT
cjfa-10416	140	53	the	the	DET
cjfa-10416	140	54	positive	positive	ADJ
cjfa-10416	140	55	impact	impact	NOUN
cjfa-10416	140	56	of	of	ADP
cjfa-10416	140	57	the	the	DET
cjfa-10416	140	58	preliminary	preliminary	ADJ
cjfa-10416	140	59	announcement	announcement	NOUN
cjfa-10416	140	60	of	of	ADP
cjfa-10416	140	61	the	the	DET
cjfa-10416	140	62	takeover	takeover	NOUN
cjfa-10416	140	63	bid	bid	NOUN
cjfa-10416	140	64	on	on	ADP
cjfa-10416	140	65	the	the	DET
cjfa-10416	140	66	average	average	ADJ
cjfa-10416	140	67	abnormal	abnormal	ADJ
cjfa-10416	140	68	returns	return	NOUN
cjfa-10416	140	69	of	of	ADP
cjfa-10416	140	70	the	the	DET
cjfa-10416	140	71	target	target	NOUN
cjfa-10416	140	72	companies	company	NOUN
cjfa-10416	140	73	is	be	AUX
cjfa-10416	140	74	higher	high	ADJ
cjfa-10416	140	75	,	,	PUNCT
cjfa-10416	140	76	in	in	ADP
cjfa-10416	140	77	amplitude	amplitude	NOUN
cjfa-10416	140	78	,	,	PUNCT
cjfa-10416	140	79	than	than	ADP
cjfa-10416	140	80	the	the	DET
cjfa-10416	140	81	negative	negative	ADJ
cjfa-10416	140	82	impact	impact	NOUN
cjfa-10416	140	83	on	on	ADP
cjfa-10416	140	84	the	the	DET
cjfa-10416	140	85	average	average	ADJ
cjfa-10416	140	86	abnormal	abnormal	ADJ
cjfa-10416	140	87	returns	return	NOUN
cjfa-10416	140	88	of	of	ADP
cjfa-10416	140	89	the	the	DET
cjfa-10416	140	90	acquiring	acquire	VERB
cjfa-10416	140	91	companies	company	NOUN
cjfa-10416	140	92	h4	h4	NOUN
cjfa-10416	140	93	:	:	PUNCT
cjfa-10416	140	94	the	the	DET
cjfa-10416	140	95	average	average	ADJ
cjfa-10416	140	96	abnormal	abnormal	ADJ
cjfa-10416	140	97	returns	return	NOUN
cjfa-10416	140	98	of	of	ADP
cjfa-10416	140	99	the	the	DET
cjfa-10416	140	100	companies	company	NOUN
cjfa-10416	140	101	involved	involve	VERB
cjfa-10416	140	102	(	(	PUNCT
cjfa-10416	140	103	acquiring	acquire	VERB
cjfa-10416	140	104	and	and	CCONJ
cjfa-10416	140	105	target	target	VERB
cjfa-10416	140	106	)	)	PUNCT
cjfa-10416	140	107	react	react	VERB
cjfa-10416	140	108	strongly	strongly	ADV
cjfa-10416	140	109	to	to	ADP
cjfa-10416	140	110	the	the	DET
cjfa-10416	140	111	disclosure	disclosure	NOUN
cjfa-10416	140	112	of	of	ADP
cjfa-10416	140	113	the	the	DET
cjfa-10416	140	114	preliminary	preliminary	ADJ
cjfa-10416	140	115	announcement	announcement	NOUN
cjfa-10416	140	116	of	of	ADP
cjfa-10416	140	117	the	the	DET
cjfa-10416	140	118	takeover	takeover	NOUN
cjfa-10416	140	119	bid	bid	NOUN
cjfa-10416	140	120	h5	h5	NOUN
cjfa-10416	140	121	:	:	PUNCT
cjfa-10416	140	122	the	the	DET
cjfa-10416	140	123	reaction	reaction	NOUN
cjfa-10416	140	124	of	of	ADP
cjfa-10416	140	125	the	the	DET
cjfa-10416	140	126	average	average	ADJ
cjfa-10416	140	127	abnormal	abnormal	ADJ
cjfa-10416	140	128	returns	return	NOUN
cjfa-10416	140	129	of	of	ADP
cjfa-10416	140	130	the	the	DET
cjfa-10416	140	131	target	target	NOUN
cjfa-10416	140	132	companies	company	NOUN
cjfa-10416	140	133	to	to	ADP
cjfa-10416	140	134	the	the	DET
cjfa-10416	140	135	disclosure	disclosure	NOUN
cjfa-10416	140	136	of	of	ADP
cjfa-10416	140	137	the	the	DET
cjfa-10416	140	138	preliminary	preliminary	ADJ
cjfa-10416	140	139	announcement	announcement	NOUN
cjfa-10416	140	140	of	of	ADP
cjfa-10416	140	141	the	the	DET
cjfa-10416	140	142	takeover	takeover	NOUN
cjfa-10416	140	143	bid	bid	NOUN
cjfa-10416	140	144	is	be	AUX
cjfa-10416	140	145	higher	high	ADJ
cjfa-10416	140	146	than	than	ADP
cjfa-10416	140	147	the	the	DET
cjfa-10416	140	148	reaction	reaction	NOUN
cjfa-10416	140	149	of	of	ADP
cjfa-10416	140	150	the	the	DET
cjfa-10416	140	151	average	average	ADJ
cjfa-10416	140	152	abnormal	abnormal	ADJ
cjfa-10416	140	153	returns	return	NOUN
cjfa-10416	140	154	of	of	ADP
cjfa-10416	140	155	the	the	DET
cjfa-10416	140	156	acquiring	acquire	VERB
cjfa-10416	140	157	companies	company	NOUN
cjfa-10416	140	158	sample	sample	VERB
cjfa-10416	140	159	and	and	CCONJ
cjfa-10416	140	160	data	data	VERB
cjfa-10416	140	161	the	the	DET
cjfa-10416	140	162	survey	survey	NOUN
cjfa-10416	140	163	of	of	ADP
cjfa-10416	140	164	takeover	takeover	NOUN
cjfa-10416	140	165	bids	bid	NOUN
cjfa-10416	140	166	was	be	AUX
cjfa-10416	140	167	conducted	conduct	VERB
cjfa-10416	140	168	from	from	ADP
cjfa-10416	140	169	the	the	DET
cjfa-10416	140	170	information	information	NOUN
cjfa-10416	140	171	available	available	ADJ
cjfa-10416	140	172	in	in	ADP
cjfa-10416	140	173	the	the	DET
cjfa-10416	140	174	annual	annual	ADJ
cjfa-10416	140	175	reports	report	NOUN
cjfa-10416	140	176	and	and	CCONJ
cjfa-10416	140	177	quotation	quotation	NOUN
cjfa-10416	140	178	bulletins	bulletin	NOUN
cjfa-10416	140	179	of	of	ADP
cjfa-10416	140	180	cmvm	cmvm	NOUN
cjfa-10416	140	181	,	,	PUNCT
cjfa-10416	140	182	as	as	ADV
cjfa-10416	140	183	well	well	ADV
cjfa-10416	140	184	as	as	ADP
cjfa-10416	140	185	in	in	ADP
cjfa-10416	140	186	other	other	ADJ
cjfa-10416	140	187	mass	mass	ADJ
cjfa-10416	140	188	communication	communication	NOUN
cjfa-10416	140	189	media	medium	NOUN
cjfa-10416	140	190	,	,	PUNCT
cjfa-10416	140	191	such	such	ADJ
cjfa-10416	140	192	as	as	ADP
cjfa-10416	140	193	newspapers	newspaper	NOUN
cjfa-10416	140	194	.	.	PUNCT
cjfa-10416	141	1	the	the	DET
cjfa-10416	141	2	sample	sample	NOUN
cjfa-10416	141	3	initially	initially	ADV
cjfa-10416	141	4	identified	identify	VERB
cjfa-10416	141	5	for	for	ADP
cjfa-10416	141	6	the	the	DET
cjfa-10416	141	7	empirical	empirical	ADJ
cjfa-10416	141	8	research	research	NOUN
cjfa-10416	141	9	was	be	AUX
cjfa-10416	141	10	constituted	constitute	VERB
cjfa-10416	141	11	by	by	ADP
cjfa-10416	141	12	100	100	NUM
cjfa-10416	141	13	takeover	takeover	NOUN
cjfa-10416	141	14	bids	bid	NOUN
cjfa-10416	141	15	occurred4	occurred4	ADJ
cjfa-10416	141	16	in	in	ADP
cjfa-10416	141	17	portugal	portugal	PROPN
cjfa-10416	141	18	between	between	ADP
cjfa-10416	141	19	2000	2000	NUM
cjfa-10416	141	20	and	and	CCONJ
cjfa-10416	141	21	2014	2014	NUM
cjfa-10416	141	22	.	.	PUNCT
cjfa-10416	142	1	however	however	ADV
cjfa-10416	142	2	,	,	PUNCT
cjfa-10416	142	3	the	the	DET
cjfa-10416	142	4	quantitative	quantitative	ADJ
cjfa-10416	142	5	analysis	analysis	NOUN
cjfa-10416	142	6	can	can	AUX
cjfa-10416	142	7	only	only	ADV
cjfa-10416	142	8	contemplate	contemplate	VERB
cjfa-10416	142	9	the	the	DET
cjfa-10416	142	10	bids	bid	NOUN
cjfa-10416	142	11	of	of	ADP
cjfa-10416	142	12	both	both	PRON
cjfa-10416	142	13	(	(	PUNCT
cjfa-10416	142	14	acquiring	acquire	VERB
cjfa-10416	142	15	and	and	CCONJ
cjfa-10416	142	16	target	target	VERB
cjfa-10416	142	17	)	)	PUNCT
cjfa-10416	142	18	companies	company	NOUN
cjfa-10416	142	19	,	,	PUNCT
cjfa-10416	142	20	when	when	SCONJ
cjfa-10416	142	21	both	both	DET
cjfa-10416	142	22	companies	company	NOUN
cjfa-10416	142	23	share	share	VERB
cjfa-10416	142	24	prices	price	NOUN
cjfa-10416	142	25	are	be	AUX
cjfa-10416	142	26	available	available	ADJ
cjfa-10416	142	27	.	.	PUNCT
cjfa-10416	143	1	there	there	PRON
cjfa-10416	143	2	were	be	VERB
cjfa-10416	143	3	some	some	DET
cjfa-10416	143	4	limitations	limitation	NOUN
cjfa-10416	143	5	regarding	regard	VERB
cjfa-10416	143	6	these	these	DET
cjfa-10416	143	7	4	4	NUM
cjfa-10416	143	8	 	 	SPACE
cjfa-10416	143	9	the	the	DET
cjfa-10416	143	10	list	list	NOUN
cjfa-10416	143	11	of	of	ADP
cjfa-10416	143	12	both	both	PRON
cjfa-10416	143	13	(	(	PUNCT
cjfa-10416	143	14	acquiring	acquire	VERB
cjfa-10416	143	15	and	and	CCONJ
cjfa-10416	143	16	target	target	VERB
cjfa-10416	143	17	)	)	PUNCT
cjfa-10416	143	18	companies	company	NOUN
cjfa-10416	143	19	involved	involve	VERB
cjfa-10416	143	20	in	in	ADP
cjfa-10416	143	21	takeover	takeover	NOUN
cjfa-10416	143	22	bids	bid	NOUN
cjfa-10416	143	23	between	between	ADP
cjfa-10416	143	24	2000	2000	NUM
cjfa-10416	143	25	and	and	CCONJ
cjfa-10416	143	26	2014	2014	NUM
cjfa-10416	143	27	may	may	AUX
cjfa-10416	143	28	be	be	AUX
cjfa-10416	143	29	disclosed	disclose	VERB
cjfa-10416	143	30	by	by	ADP
cjfa-10416	143	31	the	the	DET
cjfa-10416	143	32	authors	author	NOUN
cjfa-10416	143	33	upon	upon	SCONJ
cjfa-10416	143	34	request	request	NOUN
cjfa-10416	143	35	.	.	PUNCT
cjfa-10416	144	1	the	the	DET
cjfa-10416	144	2	impact	impact	NOUN
cjfa-10416	144	3	of	of	ADP
cjfa-10416	144	4	the	the	DET
cjfa-10416	144	5	preliminary	preliminary	ADJ
cjfa-10416	144	6	announcement	announcement	NOUN
cjfa-10416	144	7	…	…	PUNCT
cjfa-10416	144	8	49	49	NUM
cjfa-10416	144	9	100	100	NUM
cjfa-10416	144	10	takeover	takeover	NOUN
cjfa-10416	144	11	bids	bid	NOUN
cjfa-10416	144	12	:	:	PUNCT
cjfa-10416	144	13	16	16	NUM
cjfa-10416	144	14	bids	bid	NOUN
cjfa-10416	144	15	were	be	AUX
cjfa-10416	144	16	offered	offer	VERB
cjfa-10416	144	17	by	by	ADP
cjfa-10416	144	18	international	international	ADJ
cjfa-10416	144	19	groups	group	NOUN
cjfa-10416	144	20	,	,	PUNCT
cjfa-10416	144	21	16	16	NUM
cjfa-10416	144	22	bids	bid	NOUN
cjfa-10416	144	23	were	be	AUX
cjfa-10416	144	24	offered	offer	VERB
cjfa-10416	144	25	by	by	ADP
cjfa-10416	144	26	a	a	DET
cjfa-10416	144	27	bidder	bidder	NOUN
cjfa-10416	144	28	holding	hold	VERB
cjfa-10416	144	29	more	more	ADJ
cjfa-10416	144	30	than	than	ADP
cjfa-10416	144	31	half	half	NOUN
cjfa-10416	144	32	of	of	ADP
cjfa-10416	144	33	the	the	DET
cjfa-10416	144	34	capital	capital	NOUN
cjfa-10416	144	35	of	of	ADP
cjfa-10416	144	36	the	the	DET
cjfa-10416	144	37	target	target	NOUN
cjfa-10416	144	38	company	company	NOUN
cjfa-10416	144	39	,	,	PUNCT
cjfa-10416	144	40	53	53	NUM
cjfa-10416	144	41	bids	bid	NOUN
cjfa-10416	144	42	had	have	VERB
cjfa-10416	144	43	n’t	not	PART
cjfa-10416	144	44	the	the	DET
cjfa-10416	144	45	share	share	NOUN
cjfa-10416	144	46	price	price	NOUN
cjfa-10416	144	47	information	information	NOUN
cjfa-10416	144	48	of	of	ADP
cjfa-10416	144	49	both	both	DET
cjfa-10416	144	50	companies	company	NOUN
cjfa-10416	144	51	,	,	PUNCT
cjfa-10416	144	52	and	and	CCONJ
cjfa-10416	144	53	3	3	NUM
cjfa-10416	144	54	had	have	VERB
cjfa-10416	144	55	one	one	NUM
cjfa-10416	144	56	individual	individual	NOUN
cjfa-10416	144	57	as	as	ADP
cjfa-10416	144	58	a	a	DET
cjfa-10416	144	59	bidder	bidder	NOUN
cjfa-10416	144	60	.	.	PUNCT
cjfa-10416	145	1	taking	take	VERB
cjfa-10416	145	2	into	into	ADP
cjfa-10416	145	3	account	account	NOUN
cjfa-10416	145	4	these	these	DET
cjfa-10416	145	5	limitations	limitation	NOUN
cjfa-10416	145	6	,	,	PUNCT
cjfa-10416	145	7	only	only	ADV
cjfa-10416	145	8	12	12	NUM
cjfa-10416	145	9	bids	bid	NOUN
cjfa-10416	145	10	were	be	AUX
cjfa-10416	145	11	studied	study	VERB
cjfa-10416	145	12	and	and	CCONJ
cjfa-10416	145	13	only	only	ADV
cjfa-10416	145	14	those	those	PRON
cjfa-10416	145	15	were	be	AUX
cjfa-10416	145	16	included	include	VERB
cjfa-10416	145	17	in	in	ADP
cjfa-10416	145	18	the	the	DET
cjfa-10416	145	19	empirical	empirical	ADJ
cjfa-10416	145	20	research	research	NOUN
cjfa-10416	145	21	.	.	PUNCT
cjfa-10416	146	1	the	the	DET
cjfa-10416	146	2	data	datum	NOUN
cjfa-10416	146	3	were	be	AUX
cjfa-10416	146	4	studied	study	VERB
cjfa-10416	146	5	using	use	VERB
cjfa-10416	146	6	the	the	DET
cjfa-10416	146	7	stock	stock	NOUN
cjfa-10416	146	8	prices	price	NOUN
cjfa-10416	146	9	of	of	ADP
cjfa-10416	146	10	the	the	DET
cjfa-10416	146	11	companies	company	NOUN
cjfa-10416	146	12	involved	involve	VERB
cjfa-10416	146	13	and	and	CCONJ
cjfa-10416	146	14	of	of	ADP
cjfa-10416	146	15	the	the	DET
cjfa-10416	146	16	portuguese	portuguese	ADJ
cjfa-10416	146	17	stock	stock	NOUN
cjfa-10416	146	18	exchange	exchange	PROPN
cjfa-10416	146	19	(	(	PUNCT
cjfa-10416	146	20	psi-20	psi-20	PRON
cjfa-10416	146	21	index	index	NOUN
cjfa-10416	146	22	)	)	PUNCT
cjfa-10416	146	23	,	,	PUNCT
cjfa-10416	146	24	calculating	calculate	VERB
cjfa-10416	146	25	the	the	DET
cjfa-10416	146	26	first	first	ADJ
cjfa-10416	146	27	napier	napier	NOUN
cjfa-10416	146	28	’s	’s	PART
cjfa-10416	146	29	logarithmic	logarithmic	ADJ
cjfa-10416	146	30	difference	difference	NOUN
cjfa-10416	146	31	of	of	ADP
cjfa-10416	146	32	the	the	DET
cjfa-10416	146	33	prices	price	NOUN
cjfa-10416	146	34	,	,	PUNCT
cjfa-10416	146	35	with	with	ADP
cjfa-10416	146	36	the	the	DET
cjfa-10416	146	37	perspective	perspective	NOUN
cjfa-10416	146	38	to	to	PART
cjfa-10416	146	39	rectify	rectify	VERB
cjfa-10416	146	40	the	the	DET
cjfa-10416	146	41	occurrence	occurrence	NOUN
cjfa-10416	146	42	of	of	ADP
cjfa-10416	146	43	“	"	PUNCT
cjfa-10416	146	44	shocks	shock	NOUN
cjfa-10416	146	45	”	"	PUNCT
cjfa-10416	146	46	or	or	CCONJ
cjfa-10416	146	47	abnormal	abnormal	ADJ
cjfa-10416	146	48	phenomena	phenomenon	NOUN
cjfa-10416	146	49	that	that	SCONJ
cjfa-10416	146	50	,	,	PUNCT
cjfa-10416	146	51	most	most	ADJ
cjfa-10416	146	52	of	of	ADP
cjfa-10416	146	53	the	the	DET
cjfa-10416	146	54	times	time	NOUN
cjfa-10416	146	55	,	,	PUNCT
cjfa-10416	146	56	characterize	characterize	VERB
cjfa-10416	146	57	time	time	NOUN
cjfa-10416	146	58	series	series	NOUN
cjfa-10416	146	59	.	.	PUNCT
cjfa-10416	147	1	in	in	ADP
cjfa-10416	147	2	practical	practical	ADJ
cjfa-10416	147	3	terms	term	NOUN
cjfa-10416	147	4	,	,	PUNCT
cjfa-10416	147	5	the	the	DET
cjfa-10416	147	6	nominal	nominal	ADJ
cjfa-10416	147	7	returns	return	NOUN
cjfa-10416	147	8	of	of	ADP
cjfa-10416	147	9	stock	stock	NOUN
cjfa-10416	147	10	were	be	AUX
cjfa-10416	147	11	calculated	calculate	VERB
cjfa-10416	147	12	,	,	PUNCT
cjfa-10416	147	13	continuously	continuously	ADV
cjfa-10416	147	14	compounded	compound	VERB
cjfa-10416	147	15	,	,	PUNCT
cjfa-10416	147	16	in	in	ADP
cjfa-10416	147	17	which	which	PRON
cjfa-10416	147	18	and	and	CCONJ
cjfa-10416	147	19	express	express	VERB
cjfa-10416	147	20	the	the	DET
cjfa-10416	147	21	closing	closing	NOUN
cjfa-10416	147	22	price	price	NOUN
cjfa-10416	147	23	of	of	ADP
cjfa-10416	147	24	stock	stock	NOUN
cjfa-10416	147	25	in	in	ADP
cjfa-10416	147	26	consecutive	consecutive	ADJ
cjfa-10416	147	27	weeks	week	NOUN
cjfa-10416	147	28	and	and	CCONJ
cjfa-10416	147	29	expresses	express	VERB
cjfa-10416	147	30	the	the	DET
cjfa-10416	147	31	dividends	dividend	NOUN
cjfa-10416	147	32	of	of	ADP
cjfa-10416	147	33	stock	stock	NOUN
cjfa-10416	147	34	in	in	ADP
cjfa-10416	147	35	the	the	DET
cjfa-10416	147	36	week	week	NOUN
cjfa-10416	147	37	:	:	PUNCT
cjfa-10416	147	38	the	the	DET
cjfa-10416	147	39	survey	survey	NOUN
cjfa-10416	147	40	of	of	ADP
cjfa-10416	147	41	takeover	takeover	NOUN
cjfa-10416	147	42	bids	bid	NOUN
cjfa-10416	147	43	was	be	AUX
cjfa-10416	147	44	conducted	conduct	VERB
cjfa-10416	147	45	from	from	ADP
cjfa-10416	147	46	the	the	DET
cjfa-10416	147	47	information	information	NOUN
cjfa-10416	147	48	available	available	ADJ
cjfa-10416	147	49	in	in	ADP
cjfa-10416	147	50	the	the	DET
cjfa-10416	147	51	annual	annual	ADJ
cjfa-10416	147	52	reports	report	NOUN
cjfa-10416	147	53	and	and	CCONJ
cjfa-10416	147	54	quotation	quotation	NOUN
cjfa-10416	147	55	bulletins	bulletin	NOUN
cjfa-10416	147	56	of	of	ADP
cjfa-10416	147	57	cmvm	cmvm	NOUN
cjfa-10416	147	58	,	,	PUNCT
cjfa-10416	147	59	as	as	ADV
cjfa-10416	147	60	well	well	ADV
cjfa-10416	147	61	as	as	ADP
cjfa-10416	147	62	in	in	ADP
cjfa-10416	147	63	other	other	ADJ
cjfa-10416	147	64	mass	mass	ADJ
cjfa-10416	147	65	communication	communication	NOUN
cjfa-10416	147	66	media	medium	NOUN
cjfa-10416	147	67	,	,	PUNCT
cjfa-10416	147	68	such	such	ADJ
cjfa-10416	147	69	as	as	ADP
cjfa-10416	147	70	newspapers	newspaper	NOUN
cjfa-10416	147	71	.	.	PUNCT
cjfa-10416	148	1	the	the	DET
cjfa-10416	148	2	sample	sample	NOUN
cjfa-10416	148	3	initially	initially	ADV
cjfa-10416	148	4	identified	identify	VERB
cjfa-10416	148	5	for	for	ADP
cjfa-10416	148	6	the	the	DET
cjfa-10416	148	7	empirical	empirical	ADJ
cjfa-10416	148	8	research	research	NOUN
cjfa-10416	148	9	was	be	AUX
cjfa-10416	148	10	constituted	constitute	VERB
cjfa-10416	148	11	by	by	ADP
cjfa-10416	148	12	100	100	NUM
cjfa-10416	148	13	takeover	takeover	NOUN
cjfa-10416	148	14	bids	bid	NOUN
cjfa-10416	148	15	occurred7	occurred7	ADJ
cjfa-10416	148	16	in	in	ADP
cjfa-10416	148	17	portugal	portugal	PROPN
cjfa-10416	148	18	between	between	ADP
cjfa-10416	148	19	2000	2000	NUM
cjfa-10416	148	20	and	and	CCONJ
cjfa-10416	148	21	2014	2014	NUM
cjfa-10416	148	22	.	.	PUNCT
cjfa-10416	149	1	however	however	ADV
cjfa-10416	149	2	,	,	PUNCT
cjfa-10416	149	3	the	the	DET
cjfa-10416	149	4	quantitative	quantitative	ADJ
cjfa-10416	149	5	analysis	analysis	NOUN
cjfa-10416	149	6	can	can	AUX
cjfa-10416	149	7	only	only	ADV
cjfa-10416	149	8	contemplate	contemplate	VERB
cjfa-10416	149	9	the	the	DET
cjfa-10416	149	10	bids	bid	NOUN
cjfa-10416	149	11	of	of	ADP
cjfa-10416	149	12	both	both	PRON
cjfa-10416	149	13	(	(	PUNCT
cjfa-10416	149	14	acquiring	acquire	VERB
cjfa-10416	149	15	and	and	CCONJ
cjfa-10416	149	16	target	target	VERB
cjfa-10416	149	17	)	)	PUNCT
cjfa-10416	149	18	companies	company	NOUN
cjfa-10416	149	19	,	,	PUNCT
cjfa-10416	149	20	when	when	SCONJ
cjfa-10416	149	21	both	both	DET
cjfa-10416	149	22	companies	company	NOUN
cjfa-10416	149	23	share	share	VERB
cjfa-10416	149	24	prices	price	NOUN
cjfa-10416	149	25	are	be	AUX
cjfa-10416	149	26	available	available	ADJ
cjfa-10416	149	27	.	.	PUNCT
cjfa-10416	150	1	there	there	PRON
cjfa-10416	150	2	were	be	VERB
cjfa-10416	150	3	some	some	DET
cjfa-10416	150	4	limitations	limitation	NOUN
cjfa-10416	150	5	regarding	regard	VERB
cjfa-10416	150	6	these	these	DET
cjfa-10416	150	7	100	100	NUM
cjfa-10416	150	8	takeover	takeover	NOUN
cjfa-10416	150	9	bids	bid	NOUN
cjfa-10416	150	10	:	:	PUNCT
cjfa-10416	150	11	16	16	NUM
cjfa-10416	150	12	bids	bid	NOUN
cjfa-10416	150	13	were	be	AUX
cjfa-10416	150	14	offered	offer	VERB
cjfa-10416	150	15	by	by	ADP
cjfa-10416	150	16	international	international	ADJ
cjfa-10416	150	17	groups	group	NOUN
cjfa-10416	150	18	,	,	PUNCT
cjfa-10416	150	19	16	16	NUM
cjfa-10416	150	20	bids	bid	NOUN
cjfa-10416	150	21	were	be	AUX
cjfa-10416	150	22	offered	offer	VERB
cjfa-10416	150	23	by	by	ADP
cjfa-10416	150	24	a	a	DET
cjfa-10416	150	25	bidder	bidder	NOUN
cjfa-10416	150	26	holding	hold	VERB
cjfa-10416	150	27	more	more	ADJ
cjfa-10416	150	28	than	than	ADP
cjfa-10416	150	29	half	half	NOUN
cjfa-10416	150	30	of	of	ADP
cjfa-10416	150	31	the	the	DET
cjfa-10416	150	32	capital	capital	NOUN
cjfa-10416	150	33	of	of	ADP
cjfa-10416	150	34	the	the	DET
cjfa-10416	150	35	target	target	NOUN
cjfa-10416	150	36	company	company	NOUN
cjfa-10416	150	37	,	,	PUNCT
cjfa-10416	150	38	53	53	NUM
cjfa-10416	150	39	bids	bid	NOUN
cjfa-10416	150	40	had	have	VERB
cjfa-10416	150	41	n’t	not	PART
cjfa-10416	150	42	the	the	DET
cjfa-10416	150	43	share	share	NOUN
cjfa-10416	150	44	price	price	NOUN
cjfa-10416	150	45	information	information	NOUN
cjfa-10416	150	46	of	of	ADP
cjfa-10416	150	47	both	both	DET
cjfa-10416	150	48	companies	company	NOUN
cjfa-10416	150	49	,	,	PUNCT
cjfa-10416	150	50	and	and	CCONJ
cjfa-10416	150	51	3	3	NUM
cjfa-10416	150	52	had	have	VERB
cjfa-10416	150	53	one	one	NUM
cjfa-10416	150	54	individual	individual	NOUN
cjfa-10416	150	55	as	as	ADP
cjfa-10416	150	56	a	a	DET
cjfa-10416	150	57	bidder	bidder	NOUN
cjfa-10416	150	58	.	.	PUNCT
cjfa-10416	151	1	taking	take	VERB
cjfa-10416	151	2	into	into	ADP
cjfa-10416	151	3	account	account	NOUN
cjfa-10416	151	4	these	these	DET
cjfa-10416	151	5	limitations	limitation	NOUN
cjfa-10416	151	6	,	,	PUNCT
cjfa-10416	151	7	only	only	ADV
cjfa-10416	151	8	12	12	NUM
cjfa-10416	151	9	bids	bid	NOUN
cjfa-10416	151	10	were	be	AUX
cjfa-10416	151	11	studied	study	VERB
cjfa-10416	151	12	and	and	CCONJ
cjfa-10416	151	13	only	only	ADV
cjfa-10416	151	14	those	those	PRON
cjfa-10416	151	15	were	be	AUX
cjfa-10416	151	16	included	include	VERB
cjfa-10416	151	17	in	in	ADP
cjfa-10416	151	18	the	the	DET
cjfa-10416	151	19	empirical	empirical	ADJ
cjfa-10416	151	20	research	research	NOUN
cjfa-10416	151	21	.	.	PUNCT
cjfa-10416	152	1	the	the	DET
cjfa-10416	152	2	data	datum	NOUN
cjfa-10416	152	3	were	be	AUX
cjfa-10416	152	4	studied	study	VERB
cjfa-10416	152	5	using	use	VERB
cjfa-10416	152	6	the	the	DET
cjfa-10416	152	7	stock	stock	NOUN
cjfa-10416	152	8	prices	price	NOUN
cjfa-10416	152	9	of	of	ADP
cjfa-10416	152	10	the	the	DET
cjfa-10416	152	11	companies	company	NOUN
cjfa-10416	152	12	involved	involve	VERB
cjfa-10416	152	13	and	and	CCONJ
cjfa-10416	152	14	of	of	ADP
cjfa-10416	152	15	the	the	DET
cjfa-10416	152	16	portuguese	portuguese	ADJ
cjfa-10416	152	17	stock	stock	NOUN
cjfa-10416	152	18	exchange	exchange	PROPN
cjfa-10416	152	19	(	(	PUNCT
cjfa-10416	152	20	psi-20	psi-20	PRON
cjfa-10416	152	21	index	index	NOUN
cjfa-10416	152	22	)	)	PUNCT
cjfa-10416	152	23	,	,	PUNCT
cjfa-10416	152	24	calculating	calculate	VERB
cjfa-10416	152	25	the	the	DET
cjfa-10416	152	26	first	first	ADJ
cjfa-10416	152	27	napier	napier	NOUN
cjfa-10416	152	28	’s	’s	PART
cjfa-10416	152	29	logarithmic	logarithmic	ADJ
cjfa-10416	152	30	difference	difference	NOUN
cjfa-10416	152	31	of	of	ADP
cjfa-10416	152	32	the	the	DET
cjfa-10416	152	33	prices	price	NOUN
cjfa-10416	152	34	,	,	PUNCT
cjfa-10416	152	35	with	with	ADP
cjfa-10416	152	36	the	the	DET
cjfa-10416	152	37	perspective	perspective	NOUN
cjfa-10416	152	38	to	to	PART
cjfa-10416	152	39	rectify	rectify	VERB
cjfa-10416	152	40	the	the	DET
cjfa-10416	152	41	occurrence	occurrence	NOUN
cjfa-10416	152	42	of	of	ADP
cjfa-10416	152	43	“	"	PUNCT
cjfa-10416	152	44	shocks	shock	NOUN
cjfa-10416	152	45	”	"	PUNCT
cjfa-10416	152	46	or	or	CCONJ
cjfa-10416	152	47	abnormal	abnormal	ADJ
cjfa-10416	152	48	phenomena	phenomenon	NOUN
cjfa-10416	152	49	that	that	SCONJ
cjfa-10416	152	50	,	,	PUNCT
cjfa-10416	152	51	most	most	ADJ
cjfa-10416	152	52	of	of	ADP
cjfa-10416	152	53	the	the	DET
cjfa-10416	152	54	times	time	NOUN
cjfa-10416	152	55	,	,	PUNCT
cjfa-10416	152	56	characterize	characterize	VERB
cjfa-10416	152	57	time	time	NOUN
cjfa-10416	152	58	series	series	NOUN
cjfa-10416	152	59	.	.	PUNCT
cjfa-10416	153	1	in	in	ADP
cjfa-10416	153	2	practical	practical	ADJ
cjfa-10416	153	3	terms	term	NOUN
cjfa-10416	153	4	,	,	PUNCT
cjfa-10416	153	5	the	the	DET
cjfa-10416	153	6	nominal	nominal	ADJ
cjfa-10416	153	7	returns	return	NOUN
cjfa-10416	153	8	of	of	ADP
cjfa-10416	153	9	stock	stock	NOUN
cjfa-10416	153	10	were	be	AUX
cjfa-10416	153	11	calculated	calculate	VERB
cjfa-10416	153	12	,	,	PUNCT
cjfa-10416	153	13	continuously	continuously	ADV
cjfa-10416	153	14	compounded	compound	VERB
cjfa-10416	153	15	,	,	PUNCT
cjfa-10416	153	16	in	in	ADP
cjfa-10416	153	17	which	which	PRON
cjfa-10416	153	18	and	and	CCONJ
cjfa-10416	153	19	express	express	VERB
cjfa-10416	153	20	the	the	DET
cjfa-10416	153	21	closing	closing	NOUN
cjfa-10416	153	22	price	price	NOUN
cjfa-10416	153	23	of	of	ADP
cjfa-10416	153	24	stock	stock	NOUN
cjfa-10416	153	25	in	in	ADP
cjfa-10416	153	26	consecutive	consecutive	ADJ
cjfa-10416	153	27	weeks	week	NOUN
cjfa-10416	153	28	and	and	CCONJ
cjfa-10416	153	29	expresses	express	VERB
cjfa-10416	153	30	the	the	DET
cjfa-10416	153	31	dividends	dividend	NOUN
cjfa-10416	153	32	of	of	ADP
cjfa-10416	153	33	stock	stock	NOUN
cjfa-10416	153	34	in	in	ADP
cjfa-10416	153	35	the	the	DET
cjfa-10416	153	36	week	week	NOUN
cjfa-10416	153	37	:	:	PUNCT
cjfa-10416	154	1	[	[	X
cjfa-10416	154	2	1	1	X
cjfa-10416	154	3	]	]	PUNCT
cjfa-10416	154	4	and	and	CCONJ
cjfa-10416	154	5	the	the	DET
cjfa-10416	154	6	nominal	nominal	ADJ
cjfa-10416	154	7	returns	return	NOUN
cjfa-10416	154	8	of	of	ADP
cjfa-10416	154	9	index	index	NOUN
cjfa-10416	154	10	,	,	PUNCT
cjfa-10416	154	11	continuously	continuously	ADV
cjfa-10416	154	12	compounded	compound	VERB
cjfa-10416	154	13	,	,	PUNCT
cjfa-10416	154	14	in	in	ADP
cjfa-10416	154	15	which	which	PRON
cjfa-10416	154	16	and	and	CCONJ
cjfa-10416	154	17	express	express	VERB
cjfa-10416	154	18	the	the	DET
cjfa-10416	154	19	closing	close	VERB
cjfa-10416	154	20	values	value	NOUN
cjfa-10416	154	21	of	of	ADP
cjfa-10416	154	22	the	the	DET
cjfa-10416	154	23	index	index	NOUN
cjfa-10416	154	24	in	in	ADP
cjfa-10416	154	25	consecutive	consecutive	ADJ
cjfa-10416	154	26	weeks	week	NOUN
cjfa-10416	154	27	:	:	PUNCT
cjfa-10416	154	28	[	[	X
cjfa-10416	154	29	2	2	X
cjfa-10416	154	30	]	]	X
cjfa-10416	154	31	the	the	DET
cjfa-10416	154	32	date	date	NOUN
cjfa-10416	154	33	of	of	ADP
cjfa-10416	154	34	preliminary	preliminary	ADJ
cjfa-10416	154	35	announcement	announcement	NOUN
cjfa-10416	154	36	of	of	ADP
cjfa-10416	154	37	the	the	DET
cjfa-10416	154	38	takeover	takeover	NOUN
cjfa-10416	154	39	bid	bid	NOUN
cjfa-10416	154	40	corresponds	correspond	VERB
cjfa-10416	154	41	to	to	ADP
cjfa-10416	154	42	the	the	DET
cjfa-10416	154	43	week	week	NOUN
cjfa-10416	154	44	0	0	NUM
cjfa-10416	154	45	.	.	PUNCT
cjfa-10416	155	1	around	around	ADP
cjfa-10416	155	2	the	the	DET
cjfa-10416	155	3	date	date	NOUN
cjfa-10416	155	4	of	of	ADP
cjfa-10416	155	5	announcement	announcement	NOUN
cjfa-10416	155	6	,	,	PUNCT
cjfa-10416	155	7	the	the	DET
cjfa-10416	155	8	study	study	NOUN
cjfa-10416	155	9	considers	consider	VERB
cjfa-10416	155	10	a	a	DET
cjfa-10416	155	11	period	period	NOUN
cjfa-10416	155	12	of	of	ADP
cjfa-10416	155	13	38	38	NUM
cjfa-10416	155	14	weeks	week	NOUN
cjfa-10416	155	15	with	with	ADP
cjfa-10416	155	16	observations	observation	NOUN
cjfa-10416	155	17	of	of	ADP
cjfa-10416	155	18	thursday	thursday	PROPN
cjfa-10416	155	19	’s	’s	PART
cjfa-10416	155	20	closing	closing	NOUN
cjfa-10416	155	21	prices	price	NOUN
cjfa-10416	155	22	,	,	PUNCT
cjfa-10416	155	23	since	since	SCONJ
cjfa-10416	155	24	the	the	DET
cjfa-10416	155	25	week	week	NOUN
cjfa-10416	155	26	-19	-19	PUNCT
cjfa-10416	155	27	until	until	ADP
cjfa-10416	155	28	week	week	NOUN
cjfa-10416	155	29	+18	+18	ADJ
cjfa-10416	155	30	.	.	PUNCT
cjfa-10416	156	1	during	during	ADP
cjfa-10416	156	2	some	some	DET
cjfa-10416	156	3	time	time	NOUN
cjfa-10416	156	4	series	series	NOUN
cjfa-10416	156	5	,	,	PUNCT
cjfa-10416	156	6	dividends	dividend	NOUN
cjfa-10416	156	7	were	be	AUX
cjfa-10416	156	8	distributed	distribute	VERB
cjfa-10416	156	9	or	or	CCONJ
cjfa-10416	156	10	there	there	PRON
cjfa-10416	156	11	were	be	VERB
cjfa-10416	156	12	social	social	ADJ
cjfa-10416	156	13	capital	capital	NOUN
cjfa-10416	156	14	increases	increase	NOUN
cjfa-10416	156	15	that	that	PRON
cjfa-10416	156	16	had	have	VERB
cjfa-10416	156	17	consequences	consequence	NOUN
cjfa-10416	156	18	in	in	ADP
cjfa-10416	156	19	terms	term	NOUN
cjfa-10416	156	20	of	of	ADP
cjfa-10416	156	21	the	the	DET
cjfa-10416	156	22	anticipated	anticipate	VERB
cjfa-10416	156	23	discount	discount	NOUN
cjfa-10416	156	24	of	of	ADP
cjfa-10416	156	25	stock	stock	NOUN
cjfa-10416	156	26	prices	price	NOUN
cjfa-10416	156	27	.	.	PUNCT
cjfa-10416	157	1	these	these	DET
cjfa-10416	157	2	circumstances	circumstance	NOUN
cjfa-10416	157	3	7	7	NUM
cjfa-10416	157	4	the	the	DET
cjfa-10416	157	5	list	list	NOUN
cjfa-10416	157	6	of	of	ADP
cjfa-10416	157	7	both	both	PRON
cjfa-10416	157	8	(	(	PUNCT
cjfa-10416	157	9	acquiring	acquire	VERB
cjfa-10416	157	10	and	and	CCONJ
cjfa-10416	157	11	target	target	VERB
cjfa-10416	157	12	)	)	PUNCT
cjfa-10416	157	13	companies	company	NOUN
cjfa-10416	157	14	involved	involve	VERB
cjfa-10416	157	15	in	in	ADP
cjfa-10416	157	16	takeover	takeover	NOUN
cjfa-10416	157	17	bids	bid	NOUN
cjfa-10416	157	18	between	between	ADP
cjfa-10416	157	19	2000	2000	NUM
cjfa-10416	157	20	and	and	CCONJ
cjfa-10416	157	21	2014	2014	NUM
cjfa-10416	157	22	may	may	AUX
cjfa-10416	157	23	be	be	AUX
cjfa-10416	157	24	disclosed	disclose	VERB
cjfa-10416	157	25	by	by	ADP
cjfa-10416	157	26	the	the	DET
cjfa-10416	157	27	authors	author	NOUN
cjfa-10416	157	28	upon	upon	SCONJ
cjfa-10416	157	29	request	request	NOUN
cjfa-10416	157	30	.	.	PUNCT
cjfa-10416	158	1	[	[	X
cjfa-10416	158	2	1	1	X
cjfa-10416	158	3	]	]	PUNCT
cjfa-10416	158	4	and	and	CCONJ
cjfa-10416	158	5	the	the	DET
cjfa-10416	158	6	nominal	nominal	ADJ
cjfa-10416	158	7	returns	return	NOUN
cjfa-10416	158	8	of	of	ADP
cjfa-10416	158	9	index	index	NOUN
cjfa-10416	158	10	,	,	PUNCT
cjfa-10416	158	11	continuously	continuously	ADV
cjfa-10416	158	12	compounded	compound	VERB
cjfa-10416	158	13	,	,	PUNCT
cjfa-10416	158	14	in	in	ADP
cjfa-10416	158	15	which	which	PRON
cjfa-10416	158	16	and	and	CCONJ
cjfa-10416	158	17	express	express	VERB
cjfa-10416	158	18	the	the	DET
cjfa-10416	158	19	closing	close	VERB
cjfa-10416	158	20	values	value	NOUN
cjfa-10416	158	21	of	of	ADP
cjfa-10416	158	22	the	the	DET
cjfa-10416	158	23	index	index	NOUN
cjfa-10416	158	24	in	in	ADP
cjfa-10416	158	25	consecutive	consecutive	ADJ
cjfa-10416	158	26	weeks	week	NOUN
cjfa-10416	158	27	:	:	PUNCT
cjfa-10416	158	28	the	the	DET
cjfa-10416	158	29	survey	survey	NOUN
cjfa-10416	158	30	of	of	ADP
cjfa-10416	158	31	takeover	takeover	NOUN
cjfa-10416	158	32	bids	bid	NOUN
cjfa-10416	158	33	was	be	AUX
cjfa-10416	158	34	conducted	conduct	VERB
cjfa-10416	158	35	from	from	ADP
cjfa-10416	158	36	the	the	DET
cjfa-10416	158	37	information	information	NOUN
cjfa-10416	158	38	available	available	ADJ
cjfa-10416	158	39	in	in	ADP
cjfa-10416	158	40	the	the	DET
cjfa-10416	158	41	annual	annual	ADJ
cjfa-10416	158	42	reports	report	NOUN
cjfa-10416	158	43	and	and	CCONJ
cjfa-10416	158	44	quotation	quotation	NOUN
cjfa-10416	158	45	bulletins	bulletin	NOUN
cjfa-10416	158	46	of	of	ADP
cjfa-10416	158	47	cmvm	cmvm	NOUN
cjfa-10416	158	48	,	,	PUNCT
cjfa-10416	158	49	as	as	ADV
cjfa-10416	158	50	well	well	ADV
cjfa-10416	158	51	as	as	ADP
cjfa-10416	158	52	in	in	ADP
cjfa-10416	158	53	other	other	ADJ
cjfa-10416	158	54	mass	mass	ADJ
cjfa-10416	158	55	communication	communication	NOUN
cjfa-10416	158	56	media	medium	NOUN
cjfa-10416	158	57	,	,	PUNCT
cjfa-10416	158	58	such	such	ADJ
cjfa-10416	158	59	as	as	ADP
cjfa-10416	158	60	newspapers	newspaper	NOUN
cjfa-10416	158	61	.	.	PUNCT
cjfa-10416	159	1	the	the	DET
cjfa-10416	159	2	sample	sample	NOUN
cjfa-10416	159	3	initially	initially	ADV
cjfa-10416	159	4	identified	identify	VERB
cjfa-10416	159	5	for	for	ADP
cjfa-10416	159	6	the	the	DET
cjfa-10416	159	7	empirical	empirical	ADJ
cjfa-10416	159	8	research	research	NOUN
cjfa-10416	159	9	was	be	AUX
cjfa-10416	159	10	constituted	constitute	VERB
cjfa-10416	159	11	by	by	ADP
cjfa-10416	159	12	100	100	NUM
cjfa-10416	159	13	takeover	takeover	NOUN
cjfa-10416	159	14	bids	bid	NOUN
cjfa-10416	159	15	occurred7	occurred7	ADJ
cjfa-10416	159	16	in	in	ADP
cjfa-10416	159	17	portugal	portugal	PROPN
cjfa-10416	159	18	between	between	ADP
cjfa-10416	159	19	2000	2000	NUM
cjfa-10416	159	20	and	and	CCONJ
cjfa-10416	159	21	2014	2014	NUM
cjfa-10416	159	22	.	.	PUNCT
cjfa-10416	160	1	however	however	ADV
cjfa-10416	160	2	,	,	PUNCT
cjfa-10416	160	3	the	the	DET
cjfa-10416	160	4	quantitative	quantitative	ADJ
cjfa-10416	160	5	analysis	analysis	NOUN
cjfa-10416	160	6	can	can	AUX
cjfa-10416	160	7	only	only	ADV
cjfa-10416	160	8	contemplate	contemplate	VERB
cjfa-10416	160	9	the	the	DET
cjfa-10416	160	10	bids	bid	NOUN
cjfa-10416	160	11	of	of	ADP
cjfa-10416	160	12	both	both	PRON
cjfa-10416	160	13	(	(	PUNCT
cjfa-10416	160	14	acquiring	acquire	VERB
cjfa-10416	160	15	and	and	CCONJ
cjfa-10416	160	16	target	target	VERB
cjfa-10416	160	17	)	)	PUNCT
cjfa-10416	160	18	companies	company	NOUN
cjfa-10416	160	19	,	,	PUNCT
cjfa-10416	160	20	when	when	SCONJ
cjfa-10416	160	21	both	both	DET
cjfa-10416	160	22	companies	company	NOUN
cjfa-10416	160	23	share	share	VERB
cjfa-10416	160	24	prices	price	NOUN
cjfa-10416	160	25	are	be	AUX
cjfa-10416	160	26	available	available	ADJ
cjfa-10416	160	27	.	.	PUNCT
cjfa-10416	161	1	there	there	PRON
cjfa-10416	161	2	were	be	VERB
cjfa-10416	161	3	some	some	DET
cjfa-10416	161	4	limitations	limitation	NOUN
cjfa-10416	161	5	regarding	regard	VERB
cjfa-10416	161	6	these	these	DET
cjfa-10416	161	7	100	100	NUM
cjfa-10416	161	8	takeover	takeover	NOUN
cjfa-10416	161	9	bids	bid	NOUN
cjfa-10416	161	10	:	:	PUNCT
cjfa-10416	161	11	16	16	NUM
cjfa-10416	161	12	bids	bid	NOUN
cjfa-10416	161	13	were	be	AUX
cjfa-10416	161	14	offered	offer	VERB
cjfa-10416	161	15	by	by	ADP
cjfa-10416	161	16	international	international	ADJ
cjfa-10416	161	17	groups	group	NOUN
cjfa-10416	161	18	,	,	PUNCT
cjfa-10416	161	19	16	16	NUM
cjfa-10416	161	20	bids	bid	NOUN
cjfa-10416	161	21	were	be	AUX
cjfa-10416	161	22	offered	offer	VERB
cjfa-10416	161	23	by	by	ADP
cjfa-10416	161	24	a	a	DET
cjfa-10416	161	25	bidder	bidder	NOUN
cjfa-10416	161	26	holding	hold	VERB
cjfa-10416	161	27	more	more	ADJ
cjfa-10416	161	28	than	than	ADP
cjfa-10416	161	29	half	half	NOUN
cjfa-10416	161	30	of	of	ADP
cjfa-10416	161	31	the	the	DET
cjfa-10416	161	32	capital	capital	NOUN
cjfa-10416	161	33	of	of	ADP
cjfa-10416	161	34	the	the	DET
cjfa-10416	161	35	target	target	NOUN
cjfa-10416	161	36	company	company	NOUN
cjfa-10416	161	37	,	,	PUNCT
cjfa-10416	161	38	53	53	NUM
cjfa-10416	161	39	bids	bid	NOUN
cjfa-10416	161	40	had	have	VERB
cjfa-10416	161	41	n’t	not	PART
cjfa-10416	161	42	the	the	DET
cjfa-10416	161	43	share	share	NOUN
cjfa-10416	161	44	price	price	NOUN
cjfa-10416	161	45	information	information	NOUN
cjfa-10416	161	46	of	of	ADP
cjfa-10416	161	47	both	both	DET
cjfa-10416	161	48	companies	company	NOUN
cjfa-10416	161	49	,	,	PUNCT
cjfa-10416	161	50	and	and	CCONJ
cjfa-10416	161	51	3	3	NUM
cjfa-10416	161	52	had	have	VERB
cjfa-10416	161	53	one	one	NUM
cjfa-10416	161	54	individual	individual	NOUN
cjfa-10416	161	55	as	as	ADP
cjfa-10416	161	56	a	a	DET
cjfa-10416	161	57	bidder	bidder	NOUN
cjfa-10416	161	58	.	.	PUNCT
cjfa-10416	162	1	taking	take	VERB
cjfa-10416	162	2	into	into	ADP
cjfa-10416	162	3	account	account	NOUN
cjfa-10416	162	4	these	these	DET
cjfa-10416	162	5	limitations	limitation	NOUN
cjfa-10416	162	6	,	,	PUNCT
cjfa-10416	162	7	only	only	ADV
cjfa-10416	162	8	12	12	NUM
cjfa-10416	162	9	bids	bid	NOUN
cjfa-10416	162	10	were	be	AUX
cjfa-10416	162	11	studied	study	VERB
cjfa-10416	162	12	and	and	CCONJ
cjfa-10416	162	13	only	only	ADV
cjfa-10416	162	14	those	those	PRON
cjfa-10416	162	15	were	be	AUX
cjfa-10416	162	16	included	include	VERB
cjfa-10416	162	17	in	in	ADP
cjfa-10416	162	18	the	the	DET
cjfa-10416	162	19	empirical	empirical	ADJ
cjfa-10416	162	20	research	research	NOUN
cjfa-10416	162	21	.	.	PUNCT
cjfa-10416	163	1	the	the	DET
cjfa-10416	163	2	data	datum	NOUN
cjfa-10416	163	3	were	be	AUX
cjfa-10416	163	4	studied	study	VERB
cjfa-10416	163	5	using	use	VERB
cjfa-10416	163	6	the	the	DET
cjfa-10416	163	7	stock	stock	NOUN
cjfa-10416	163	8	prices	price	NOUN
cjfa-10416	163	9	of	of	ADP
cjfa-10416	163	10	the	the	DET
cjfa-10416	163	11	companies	company	NOUN
cjfa-10416	163	12	involved	involve	VERB
cjfa-10416	163	13	and	and	CCONJ
cjfa-10416	163	14	of	of	ADP
cjfa-10416	163	15	the	the	DET
cjfa-10416	163	16	portuguese	portuguese	ADJ
cjfa-10416	163	17	stock	stock	NOUN
cjfa-10416	163	18	exchange	exchange	PROPN
cjfa-10416	163	19	(	(	PUNCT
cjfa-10416	163	20	psi-20	psi-20	PRON
cjfa-10416	163	21	index	index	NOUN
cjfa-10416	163	22	)	)	PUNCT
cjfa-10416	163	23	,	,	PUNCT
cjfa-10416	163	24	calculating	calculate	VERB
cjfa-10416	163	25	the	the	DET
cjfa-10416	163	26	first	first	ADJ
cjfa-10416	163	27	napier	napier	NOUN
cjfa-10416	163	28	’s	’s	PART
cjfa-10416	163	29	logarithmic	logarithmic	ADJ
cjfa-10416	163	30	difference	difference	NOUN
cjfa-10416	163	31	of	of	ADP
cjfa-10416	163	32	the	the	DET
cjfa-10416	163	33	prices	price	NOUN
cjfa-10416	163	34	,	,	PUNCT
cjfa-10416	163	35	with	with	ADP
cjfa-10416	163	36	the	the	DET
cjfa-10416	163	37	perspective	perspective	NOUN
cjfa-10416	163	38	to	to	PART
cjfa-10416	163	39	rectify	rectify	VERB
cjfa-10416	163	40	the	the	DET
cjfa-10416	163	41	occurrence	occurrence	NOUN
cjfa-10416	163	42	of	of	ADP
cjfa-10416	163	43	“	"	PUNCT
cjfa-10416	163	44	shocks	shock	NOUN
cjfa-10416	163	45	”	"	PUNCT
cjfa-10416	163	46	or	or	CCONJ
cjfa-10416	163	47	abnormal	abnormal	ADJ
cjfa-10416	163	48	phenomena	phenomenon	NOUN
cjfa-10416	163	49	that	that	SCONJ
cjfa-10416	163	50	,	,	PUNCT
cjfa-10416	163	51	most	most	ADJ
cjfa-10416	163	52	of	of	ADP
cjfa-10416	163	53	the	the	DET
cjfa-10416	163	54	times	time	NOUN
cjfa-10416	163	55	,	,	PUNCT
cjfa-10416	163	56	characterize	characterize	VERB
cjfa-10416	163	57	time	time	NOUN
cjfa-10416	163	58	series	series	NOUN
cjfa-10416	163	59	.	.	PUNCT
cjfa-10416	164	1	in	in	ADP
cjfa-10416	164	2	practical	practical	ADJ
cjfa-10416	164	3	terms	term	NOUN
cjfa-10416	164	4	,	,	PUNCT
cjfa-10416	164	5	the	the	DET
cjfa-10416	164	6	nominal	nominal	ADJ
cjfa-10416	164	7	returns	return	NOUN
cjfa-10416	164	8	of	of	ADP
cjfa-10416	164	9	stock	stock	NOUN
cjfa-10416	164	10	were	be	AUX
cjfa-10416	164	11	calculated	calculate	VERB
cjfa-10416	164	12	,	,	PUNCT
cjfa-10416	164	13	continuously	continuously	ADV
cjfa-10416	164	14	compounded	compound	VERB
cjfa-10416	164	15	,	,	PUNCT
cjfa-10416	164	16	in	in	ADP
cjfa-10416	164	17	which	which	PRON
cjfa-10416	164	18	and	and	CCONJ
cjfa-10416	164	19	express	express	VERB
cjfa-10416	164	20	the	the	DET
cjfa-10416	164	21	closing	closing	NOUN
cjfa-10416	164	22	price	price	NOUN
cjfa-10416	164	23	of	of	ADP
cjfa-10416	164	24	stock	stock	NOUN
cjfa-10416	164	25	in	in	ADP
cjfa-10416	164	26	consecutive	consecutive	ADJ
cjfa-10416	164	27	weeks	week	NOUN
cjfa-10416	164	28	and	and	CCONJ
cjfa-10416	164	29	expresses	express	VERB
cjfa-10416	164	30	the	the	DET
cjfa-10416	164	31	dividends	dividend	NOUN
cjfa-10416	164	32	of	of	ADP
cjfa-10416	164	33	stock	stock	NOUN
cjfa-10416	164	34	in	in	ADP
cjfa-10416	164	35	the	the	DET
cjfa-10416	164	36	week	week	NOUN
cjfa-10416	164	37	:	:	PUNCT
cjfa-10416	165	1	[	[	X
cjfa-10416	165	2	1	1	X
cjfa-10416	165	3	]	]	PUNCT
cjfa-10416	165	4	and	and	CCONJ
cjfa-10416	165	5	the	the	DET
cjfa-10416	165	6	nominal	nominal	ADJ
cjfa-10416	165	7	returns	return	NOUN
cjfa-10416	165	8	of	of	ADP
cjfa-10416	165	9	index	index	NOUN
cjfa-10416	165	10	,	,	PUNCT
cjfa-10416	165	11	continuously	continuously	ADV
cjfa-10416	165	12	compounded	compound	VERB
cjfa-10416	165	13	,	,	PUNCT
cjfa-10416	165	14	in	in	ADP
cjfa-10416	165	15	which	which	PRON
cjfa-10416	165	16	and	and	CCONJ
cjfa-10416	165	17	express	express	VERB
cjfa-10416	165	18	the	the	DET
cjfa-10416	165	19	closing	close	VERB
cjfa-10416	165	20	values	value	NOUN
cjfa-10416	165	21	of	of	ADP
cjfa-10416	165	22	the	the	DET
cjfa-10416	165	23	index	index	NOUN
cjfa-10416	165	24	in	in	ADP
cjfa-10416	165	25	consecutive	consecutive	ADJ
cjfa-10416	165	26	weeks	week	NOUN
cjfa-10416	165	27	:	:	PUNCT
cjfa-10416	165	28	[	[	X
cjfa-10416	165	29	2	2	X
cjfa-10416	165	30	]	]	X
cjfa-10416	165	31	the	the	DET
cjfa-10416	165	32	date	date	NOUN
cjfa-10416	165	33	of	of	ADP
cjfa-10416	165	34	preliminary	preliminary	ADJ
cjfa-10416	165	35	announcement	announcement	NOUN
cjfa-10416	165	36	of	of	ADP
cjfa-10416	165	37	the	the	DET
cjfa-10416	165	38	takeover	takeover	NOUN
cjfa-10416	165	39	bid	bid	NOUN
cjfa-10416	165	40	corresponds	correspond	VERB
cjfa-10416	165	41	to	to	ADP
cjfa-10416	165	42	the	the	DET
cjfa-10416	165	43	week	week	NOUN
cjfa-10416	165	44	0	0	NUM
cjfa-10416	165	45	.	.	PUNCT
cjfa-10416	166	1	around	around	ADP
cjfa-10416	166	2	the	the	DET
cjfa-10416	166	3	date	date	NOUN
cjfa-10416	166	4	of	of	ADP
cjfa-10416	166	5	announcement	announcement	NOUN
cjfa-10416	166	6	,	,	PUNCT
cjfa-10416	166	7	the	the	DET
cjfa-10416	166	8	study	study	NOUN
cjfa-10416	166	9	considers	consider	VERB
cjfa-10416	166	10	a	a	DET
cjfa-10416	166	11	period	period	NOUN
cjfa-10416	166	12	of	of	ADP
cjfa-10416	166	13	38	38	NUM
cjfa-10416	166	14	weeks	week	NOUN
cjfa-10416	166	15	with	with	ADP
cjfa-10416	166	16	observations	observation	NOUN
cjfa-10416	166	17	of	of	ADP
cjfa-10416	166	18	thursday	thursday	PROPN
cjfa-10416	166	19	’s	’s	PART
cjfa-10416	166	20	closing	closing	NOUN
cjfa-10416	166	21	prices	price	NOUN
cjfa-10416	166	22	,	,	PUNCT
cjfa-10416	166	23	since	since	SCONJ
cjfa-10416	166	24	the	the	DET
cjfa-10416	166	25	week	week	NOUN
cjfa-10416	166	26	-19	-19	PUNCT
cjfa-10416	166	27	until	until	ADP
cjfa-10416	166	28	week	week	NOUN
cjfa-10416	166	29	+18	+18	ADJ
cjfa-10416	166	30	.	.	PUNCT
cjfa-10416	167	1	during	during	ADP
cjfa-10416	167	2	some	some	DET
cjfa-10416	167	3	time	time	NOUN
cjfa-10416	167	4	series	series	NOUN
cjfa-10416	167	5	,	,	PUNCT
cjfa-10416	167	6	dividends	dividend	NOUN
cjfa-10416	167	7	were	be	AUX
cjfa-10416	167	8	distributed	distribute	VERB
cjfa-10416	167	9	or	or	CCONJ
cjfa-10416	167	10	there	there	PRON
cjfa-10416	167	11	were	be	VERB
cjfa-10416	167	12	social	social	ADJ
cjfa-10416	167	13	capital	capital	NOUN
cjfa-10416	167	14	increases	increase	NOUN
cjfa-10416	167	15	that	that	PRON
cjfa-10416	167	16	had	have	VERB
cjfa-10416	167	17	consequences	consequence	NOUN
cjfa-10416	167	18	in	in	ADP
cjfa-10416	167	19	terms	term	NOUN
cjfa-10416	167	20	of	of	ADP
cjfa-10416	167	21	the	the	DET
cjfa-10416	167	22	anticipated	anticipate	VERB
cjfa-10416	167	23	discount	discount	NOUN
cjfa-10416	167	24	of	of	ADP
cjfa-10416	167	25	stock	stock	NOUN
cjfa-10416	167	26	prices	price	NOUN
cjfa-10416	167	27	.	.	PUNCT
cjfa-10416	168	1	these	these	DET
cjfa-10416	168	2	circumstances	circumstance	NOUN
cjfa-10416	168	3	7	7	NUM
cjfa-10416	168	4	the	the	DET
cjfa-10416	168	5	list	list	NOUN
cjfa-10416	168	6	of	of	ADP
cjfa-10416	168	7	both	both	PRON
cjfa-10416	168	8	(	(	PUNCT
cjfa-10416	168	9	acquiring	acquire	VERB
cjfa-10416	168	10	and	and	CCONJ
cjfa-10416	168	11	target	target	VERB
cjfa-10416	168	12	)	)	PUNCT
cjfa-10416	168	13	companies	company	NOUN
cjfa-10416	168	14	involved	involve	VERB
cjfa-10416	168	15	in	in	ADP
cjfa-10416	168	16	takeover	takeover	NOUN
cjfa-10416	168	17	bids	bid	NOUN
cjfa-10416	168	18	between	between	ADP
cjfa-10416	168	19	2000	2000	NUM
cjfa-10416	168	20	and	and	CCONJ
cjfa-10416	168	21	2014	2014	NUM
cjfa-10416	168	22	may	may	AUX
cjfa-10416	168	23	be	be	AUX
cjfa-10416	168	24	disclosed	disclose	VERB
cjfa-10416	168	25	by	by	ADP
cjfa-10416	168	26	the	the	DET
cjfa-10416	168	27	authors	author	NOUN
cjfa-10416	168	28	upon	upon	SCONJ
cjfa-10416	168	29	request	request	NOUN
cjfa-10416	168	30	.	.	PUNCT
cjfa-10416	169	1	[	[	X
cjfa-10416	169	2	2	2	X
cjfa-10416	169	3	]	]	X
cjfa-10416	169	4	the	the	DET
cjfa-10416	169	5	date	date	NOUN
cjfa-10416	169	6	of	of	ADP
cjfa-10416	169	7	preliminary	preliminary	ADJ
cjfa-10416	169	8	announcement	announcement	NOUN
cjfa-10416	169	9	of	of	ADP
cjfa-10416	169	10	the	the	DET
cjfa-10416	169	11	takeover	takeover	NOUN
cjfa-10416	169	12	bid	bid	NOUN
cjfa-10416	169	13	corresponds	correspond	VERB
cjfa-10416	169	14	to	to	ADP
cjfa-10416	169	15	the	the	DET
cjfa-10416	169	16	week	week	NOUN
cjfa-10416	169	17	0	0	NUM
cjfa-10416	169	18	.	.	PUNCT
cjfa-10416	170	1	around	around	ADP
cjfa-10416	170	2	the	the	DET
cjfa-10416	170	3	date	date	NOUN
cjfa-10416	170	4	of	of	ADP
cjfa-10416	170	5	announcement	announcement	NOUN
cjfa-10416	170	6	,	,	PUNCT
cjfa-10416	170	7	the	the	DET
cjfa-10416	170	8	study	study	NOUN
cjfa-10416	170	9	considers	consider	VERB
cjfa-10416	170	10	a	a	DET
cjfa-10416	170	11	period	period	NOUN
cjfa-10416	170	12	of	of	ADP
cjfa-10416	170	13	38	38	NUM
cjfa-10416	170	14	weeks	week	NOUN
cjfa-10416	170	15	with	with	ADP
cjfa-10416	170	16	observations	observation	NOUN
cjfa-10416	170	17	of	of	ADP
cjfa-10416	170	18	thursday	thursday	PROPN
cjfa-10416	170	19	’s	’s	PART
cjfa-10416	170	20	closing	closing	NOUN
cjfa-10416	170	21	prices	price	NOUN
cjfa-10416	170	22	,	,	PUNCT
cjfa-10416	170	23	since	since	SCONJ
cjfa-10416	170	24	the	the	DET
cjfa-10416	170	25	week	week	NOUN
cjfa-10416	170	26	-19	-19	PUNCT
cjfa-10416	170	27	until	until	ADP
cjfa-10416	170	28	week	week	NOUN
cjfa-10416	170	29	+18	+18	ADJ
cjfa-10416	170	30	.	.	PUNCT
cjfa-10416	171	1	during	during	ADP
cjfa-10416	171	2	some	some	DET
cjfa-10416	171	3	time	time	NOUN
cjfa-10416	171	4	series	series	NOUN
cjfa-10416	171	5	,	,	PUNCT
cjfa-10416	171	6	dividends	dividend	NOUN
cjfa-10416	171	7	were	be	AUX
cjfa-10416	171	8	distributed	distribute	VERB
cjfa-10416	171	9	or	or	CCONJ
cjfa-10416	171	10	there	there	PRON
cjfa-10416	171	11	were	be	VERB
cjfa-10416	171	12	social	social	ADJ
cjfa-10416	171	13	capital	capital	NOUN
cjfa-10416	171	14	increases	increase	NOUN
cjfa-10416	171	15	that	that	PRON
cjfa-10416	171	16	had	have	VERB
cjfa-10416	171	17	consequences	consequence	NOUN
cjfa-10416	171	18	in	in	ADP
cjfa-10416	171	19	terms	term	NOUN
cjfa-10416	171	20	of	of	ADP
cjfa-10416	171	21	the	the	DET
cjfa-10416	171	22	anticipated	anticipate	VERB
cjfa-10416	171	23	discount	discount	NOUN
cjfa-10416	171	24	of	of	ADP
cjfa-10416	171	25	stock	stock	NOUN
cjfa-10416	171	26	prices	price	NOUN
cjfa-10416	171	27	.	.	PUNCT
cjfa-10416	172	1	these	these	DET
cjfa-10416	172	2	circumstances	circumstance	NOUN
cjfa-10416	172	3	were	be	AUX
cjfa-10416	172	4	purged	purge	VERB
cjfa-10416	172	5	from	from	ADP
cjfa-10416	172	6	the	the	DET
cjfa-10416	172	7	object	object	NOUN
cjfa-10416	172	8	of	of	ADP
cjfa-10416	172	9	the	the	DET
cjfa-10416	172	10	empirical	empirical	ADJ
cjfa-10416	172	11	research	research	NOUN
cjfa-10416	172	12	,	,	PUNCT
cjfa-10416	172	13	which	which	PRON
cjfa-10416	172	14	has	have	VERB
cjfa-10416	172	15	the	the	DET
cjfa-10416	172	16	intent	intent	NOUN
cjfa-10416	172	17	to	to	PART
cjfa-10416	172	18	analyze	analyze	VERB
cjfa-10416	172	19	the	the	DET
cjfa-10416	172	20	impact	impact	NOUN
cjfa-10416	172	21	of	of	ADP
cjfa-10416	172	22	other	other	ADJ
cjfa-10416	172	23	events	event	NOUN
cjfa-10416	172	24	,	,	PUNCT
cjfa-10416	172	25	through	through	ADP
cjfa-10416	172	26	the	the	DET
cjfa-10416	172	27	correction	correction	NOUN
cjfa-10416	172	28	of	of	ADP
cjfa-10416	172	29	the	the	DET
cjfa-10416	172	30	respective	respective	ADJ
cjfa-10416	172	31	stock	stock	NOUN
cjfa-10416	172	32	prices	price	NOUN
cjfa-10416	172	33	.	.	PUNCT
cjfa-10416	173	1	models	model	NOUN
cjfa-10416	173	2	after	after	SCONJ
cjfa-10416	173	3	calculated	calculate	VERB
cjfa-10416	173	4	the	the	DET
cjfa-10416	173	5	logarithmic	logarithmic	ADJ
cjfa-10416	173	6	returns	return	NOUN
cjfa-10416	173	7	of	of	ADP
cjfa-10416	173	8	each	each	DET
cjfa-10416	173	9	company	company	NOUN
cjfa-10416	173	10	stock	stock	NOUN
cjfa-10416	173	11	price	price	NOUN
cjfa-10416	173	12	involved	involve	VERB
cjfa-10416	173	13	in	in	ADP
cjfa-10416	173	14	takeover	takeover	NOUN
cjfa-10416	173	15	bid	bid	NOUN
cjfa-10416	173	16	,	,	PUNCT
cjfa-10416	173	17	we	we	PRON
cjfa-10416	173	18	determine	determine	VERB
cjfa-10416	173	19	the	the	DET
cjfa-10416	173	20	emerging	emerge	VERB
cjfa-10416	173	21	abnormal	abnormal	ADJ
cjfa-10416	173	22	returns	return	NOUN
cjfa-10416	173	23	of	of	ADP
cjfa-10416	173	24	the	the	DET
cjfa-10416	173	25	preliminary	preliminary	ADJ
cjfa-10416	173	26	announcement	announcement	NOUN
cjfa-10416	173	27	of	of	ADP
cjfa-10416	173	28	the	the	DET
cjfa-10416	173	29	bid	bid	NOUN
cjfa-10416	173	30	.	.	PUNCT
cjfa-10416	174	1	at	at	ADP
cjfa-10416	174	2	a	a	DET
cjfa-10416	174	3	first	first	ADJ
cjfa-10416	174	4	stage	stage	NOUN
cjfa-10416	174	5	we	we	PRON
cjfa-10416	174	6	used	use	VERB
cjfa-10416	174	7	the	the	DET
cjfa-10416	174	8	model	model	NOUN
cjfa-10416	174	9	determined	determine	VERB
cjfa-10416	174	10	joão	joão	PROPN
cjfa-10416	174	11	paulo	paulo	PROPN
cjfa-10416	174	12	braga	braga	PROPN
cjfa-10416	174	13	,	,	PUNCT
cjfa-10416	174	14	luís	luís	PROPN
cjfa-10416	174	15	m.	m.	PROPN
cjfa-10416	174	16	pereira	pereira	PROPN
cjfa-10416	174	17	gomes50	gomes50	PROPN
cjfa-10416	174	18	by	by	ADP
cjfa-10416	174	19	sharpe	sharpe	PROPN
cjfa-10416	174	20	-	-	PUNCT
cjfa-10416	174	21	lintner	lintner	PROPN
cjfa-10416	174	22	(	(	PUNCT
cjfa-10416	174	23	sharpe	sharpe	PROPN
cjfa-10416	174	24	1964	1964	NUM
cjfa-10416	174	25	;	;	PUNCT
cjfa-10416	174	26	lintner	lintner	VERB
cjfa-10416	174	27	1965	1965	NUM
cjfa-10416	174	28	)	)	PUNCT
cjfa-10416	174	29	in	in	ADP
cjfa-10416	174	30	capital	capital	NOUN
cjfa-10416	174	31	asset	asset	NOUN
cjfa-10416	174	32	pricing	pricing	NOUN
cjfa-10416	174	33	model	model	NOUN
cjfa-10416	174	34	context	context	NOUN
cjfa-10416	174	35	:	:	PUNCT
cjfa-10416	174	36	were	be	AUX
cjfa-10416	174	37	purged	purge	VERB
cjfa-10416	174	38	from	from	ADP
cjfa-10416	174	39	the	the	DET
cjfa-10416	174	40	object	object	NOUN
cjfa-10416	174	41	of	of	ADP
cjfa-10416	174	42	the	the	DET
cjfa-10416	174	43	empirical	empirical	ADJ
cjfa-10416	174	44	research	research	NOUN
cjfa-10416	174	45	,	,	PUNCT
cjfa-10416	174	46	which	which	PRON
cjfa-10416	174	47	has	have	VERB
cjfa-10416	174	48	the	the	DET
cjfa-10416	174	49	intent	intent	NOUN
cjfa-10416	174	50	to	to	PART
cjfa-10416	174	51	analyze	analyze	VERB
cjfa-10416	174	52	the	the	DET
cjfa-10416	174	53	impact	impact	NOUN
cjfa-10416	174	54	of	of	ADP
cjfa-10416	174	55	other	other	ADJ
cjfa-10416	174	56	events	event	NOUN
cjfa-10416	174	57	,	,	PUNCT
cjfa-10416	174	58	through	through	ADP
cjfa-10416	174	59	the	the	DET
cjfa-10416	174	60	correction	correction	NOUN
cjfa-10416	174	61	of	of	ADP
cjfa-10416	174	62	the	the	DET
cjfa-10416	174	63	respective	respective	ADJ
cjfa-10416	174	64	stock	stock	NOUN
cjfa-10416	174	65	prices	price	NOUN
cjfa-10416	174	66	.	.	PUNCT
cjfa-10416	175	1	models	model	NOUN
cjfa-10416	175	2	after	after	SCONJ
cjfa-10416	175	3	calculated	calculate	VERB
cjfa-10416	175	4	the	the	DET
cjfa-10416	175	5	logarithmic	logarithmic	ADJ
cjfa-10416	175	6	returns	return	NOUN
cjfa-10416	175	7	of	of	ADP
cjfa-10416	175	8	each	each	DET
cjfa-10416	175	9	company	company	NOUN
cjfa-10416	175	10	stock	stock	NOUN
cjfa-10416	175	11	price	price	NOUN
cjfa-10416	175	12	involved	involve	VERB
cjfa-10416	175	13	in	in	ADP
cjfa-10416	175	14	takeover	takeover	NOUN
cjfa-10416	175	15	bid	bid	NOUN
cjfa-10416	175	16	,	,	PUNCT
cjfa-10416	175	17	we	we	PRON
cjfa-10416	175	18	determine	determine	VERB
cjfa-10416	175	19	the	the	DET
cjfa-10416	175	20	emerging	emerge	VERB
cjfa-10416	175	21	abnormal	abnormal	ADJ
cjfa-10416	175	22	returns	return	NOUN
cjfa-10416	175	23	of	of	ADP
cjfa-10416	175	24	the	the	DET
cjfa-10416	175	25	preliminary	preliminary	ADJ
cjfa-10416	175	26	announcement	announcement	NOUN
cjfa-10416	175	27	of	of	ADP
cjfa-10416	175	28	the	the	DET
cjfa-10416	175	29	bid	bid	NOUN
cjfa-10416	175	30	.	.	PUNCT
cjfa-10416	176	1	at	at	ADP
cjfa-10416	176	2	a	a	DET
cjfa-10416	176	3	first	first	ADJ
cjfa-10416	176	4	stage	stage	NOUN
cjfa-10416	176	5	we	we	PRON
cjfa-10416	176	6	used	use	VERB
cjfa-10416	176	7	the	the	DET
cjfa-10416	176	8	model	model	NOUN
cjfa-10416	176	9	determined	determine	VERB
cjfa-10416	176	10	by	by	ADP
cjfa-10416	176	11	sharpe	sharpe	PROPN
cjfa-10416	176	12	-	-	PUNCT
cjfa-10416	176	13	lintner	lintner	PROPN
cjfa-10416	176	14	(	(	PUNCT
cjfa-10416	176	15	sharpe	sharpe	NOUN
cjfa-10416	176	16	,	,	PUNCT
cjfa-10416	176	17	1964	1964	NUM
cjfa-10416	176	18	;	;	PUNCT
cjfa-10416	176	19	lintner	lintner	NOUN
cjfa-10416	176	20	,	,	PUNCT
cjfa-10416	176	21	1965	1965	NUM
cjfa-10416	176	22	)	)	PUNCT
cjfa-10416	176	23	in	in	ADP
cjfa-10416	176	24	capital	capital	NOUN
cjfa-10416	176	25	asset	asset	NOUN
cjfa-10416	176	26	pricing	pricing	NOUN
cjfa-10416	176	27	model	model	NOUN
cjfa-10416	176	28	context	context	NOUN
cjfa-10416	176	29	:	:	PUNCT
cjfa-10416	176	30	[	[	X
cjfa-10416	176	31	3	3	X
cjfa-10416	176	32	]	]	PUNCT
cjfa-10416	176	33	is	be	AUX
cjfa-10416	176	34	the	the	DET
cjfa-10416	176	35	return	return	NOUN
cjfa-10416	176	36	of	of	ADP
cjfa-10416	176	37	an	an	DET
cjfa-10416	176	38	asset	asset	NOUN
cjfa-10416	176	39	with	with	ADP
cjfa-10416	176	40	no	no	DET
cjfa-10416	176	41	risk	risk	NOUN
cjfa-10416	176	42	in	in	ADP
cjfa-10416	176	43	the	the	DET
cjfa-10416	176	44	period	period	NOUN
cjfa-10416	176	45	,	,	PUNCT
cjfa-10416	176	46	is	be	AUX
cjfa-10416	176	47	the	the	DET
cjfa-10416	176	48	return	return	NOUN
cjfa-10416	176	49	of	of	ADP
cjfa-10416	176	50	the	the	DET
cjfa-10416	176	51	market	market	NOUN
cjfa-10416	176	52	index	index	NOUN
cjfa-10416	176	53	in	in	ADP
cjfa-10416	176	54	the	the	DET
cjfa-10416	176	55	period	period	NOUN
cjfa-10416	176	56	and	and	CCONJ
cjfa-10416	176	57	is	be	AUX
cjfa-10416	176	58	the	the	DET
cjfa-10416	176	59	sensitivity	sensitivity	NOUN
cjfa-10416	176	60	of	of	ADP
cjfa-10416	176	61	the	the	DET
cjfa-10416	176	62	stock	stock	NOUN
cjfa-10416	176	63	return	return	NOUN
cjfa-10416	176	64	in	in	ADP
cjfa-10416	176	65	relation	relation	NOUN
cjfa-10416	176	66	to	to	ADP
cjfa-10416	176	67	the	the	DET
cjfa-10416	176	68	return	return	NOUN
cjfa-10416	176	69	of	of	ADP
cjfa-10416	176	70	the	the	DET
cjfa-10416	176	71	market	market	NOUN
cjfa-10416	176	72	index	index	NOUN
cjfa-10416	176	73	,	,	PUNCT
cjfa-10416	176	74	which	which	PRON
cjfa-10416	176	75	may	may	AUX
cjfa-10416	176	76	be	be	AUX
cjfa-10416	176	77	estimated	estimate	VERB
cjfa-10416	176	78	through	through	ADP
cjfa-10416	176	79	the	the	DET
cjfa-10416	176	80	implementation	implementation	NOUN
cjfa-10416	176	81	of	of	ADP
cjfa-10416	176	82	the	the	DET
cjfa-10416	176	83	ordinary	ordinary	ADJ
cjfa-10416	176	84	least	least	ADJ
cjfa-10416	176	85	squares	square	NOUN
cjfa-10416	176	86	–	–	PUNCT
cjfa-10416	176	87	ols	ol	NOUN
cjfa-10416	176	88	method	method	NOUN
cjfa-10416	176	89	.	.	PUNCT
cjfa-10416	177	1	by	by	ADP
cjfa-10416	177	2	substituting	substitute	VERB
cjfa-10416	177	3	the	the	DET
cjfa-10416	177	4	expected	expect	VERB
cjfa-10416	177	5	returns	return	NOUN
cjfa-10416	177	6	by	by	ADP
cjfa-10416	177	7	the	the	DET
cjfa-10416	177	8	observed	observe	VERB
cjfa-10416	177	9	returns	return	NOUN
cjfa-10416	177	10	in	in	ADP
cjfa-10416	177	11	the	the	DET
cjfa-10416	177	12	equation	equation	NOUN
cjfa-10416	177	13	[	[	X
cjfa-10416	177	14	3	3	NUM
cjfa-10416	177	15	]	]	PUNCT
cjfa-10416	177	16	,	,	PUNCT
cjfa-10416	177	17	it	it	PRON
cjfa-10416	177	18	results	result	VERB
cjfa-10416	177	19	:	:	PUNCT
cjfa-10416	178	1	[	[	X
cjfa-10416	178	2	4	4	X
cjfa-10416	178	3	]	]	PUNCT
cjfa-10416	178	4	where	where	SCONJ
cjfa-10416	178	5	is	be	AUX
cjfa-10416	178	6	the	the	DET
cjfa-10416	178	7	estimate	estimate	NOUN
cjfa-10416	178	8	of	of	ADP
cjfa-10416	178	9	the	the	DET
cjfa-10416	178	10	residual	residual	ADJ
cjfa-10416	178	11	term	term	NOUN
cjfa-10416	178	12	for	for	ADP
cjfa-10416	178	13	each	each	DET
cjfa-10416	178	14	stock	stock	NOUN
cjfa-10416	178	15	in	in	ADP
cjfa-10416	178	16	the	the	DET
cjfa-10416	178	17	period	period	NOUN
cjfa-10416	178	18	,	,	PUNCT
cjfa-10416	178	19	which	which	PRON
cjfa-10416	178	20	reflects	reflect	VERB
cjfa-10416	178	21	the	the	DET
cjfa-10416	178	22	abnormal	abnormal	ADJ
cjfa-10416	178	23	effect	effect	NOUN
cjfa-10416	178	24	of	of	ADP
cjfa-10416	178	25	the	the	DET
cjfa-10416	178	26	disclosure	disclosure	NOUN
cjfa-10416	178	27	of	of	ADP
cjfa-10416	178	28	the	the	DET
cjfa-10416	178	29	announcement	announcement	NOUN
cjfa-10416	178	30	on	on	ADP
cjfa-10416	178	31	the	the	DET
cjfa-10416	178	32	stock	stock	NOUN
cjfa-10416	178	33	’s	’s	PART
cjfa-10416	178	34	return	return	NOUN
cjfa-10416	178	35	.	.	PUNCT
cjfa-10416	179	1	model	model	NOUN
cjfa-10416	179	2	#	#	SYM
cjfa-10416	179	3	1	1	NUM
cjfa-10416	179	4	–	–	PUNCT
cjfa-10416	179	5	ball	ball	NOUN
cjfa-10416	179	6	&	&	CCONJ
cjfa-10416	179	7	brown	brown	PROPN
cjfa-10416	179	8	:	:	PUNCT
cjfa-10416	179	9	reformulating	reformulate	VERB
cjfa-10416	179	10	the	the	DET
cjfa-10416	179	11	equation	equation	NOUN
cjfa-10416	179	12	[	[	X
cjfa-10416	179	13	4	4	NUM
cjfa-10416	179	14	]	]	PUNCT
cjfa-10416	179	15	,	,	PUNCT
cjfa-10416	179	16	it	it	PRON
cjfa-10416	179	17	can	can	AUX
cjfa-10416	179	18	be	be	AUX
cjfa-10416	179	19	obtained	obtain	VERB
cjfa-10416	179	20	another	another	DET
cjfa-10416	179	21	equivalent	equivalent	ADJ
cjfa-10416	179	22	equation	equation	NOUN
cjfa-10416	179	23	:	:	PUNCT
cjfa-10416	180	1	[	[	X
cjfa-10416	180	2	5	5	NUM
cjfa-10416	180	3	]	]	PUNCT
cjfa-10416	180	4	considering	consider	VERB
cjfa-10416	180	5	estimated	estimate	VERB
cjfa-10416	180	6	from	from	ADP
cjfa-10416	180	7	the	the	DET
cjfa-10416	180	8	ols	ol	NOUN
cjfa-10416	180	9	method	method	NOUN
cjfa-10416	180	10	with	with	ADP
cjfa-10416	180	11	the	the	DET
cjfa-10416	180	12	regression	regression	NOUN
cjfa-10416	180	13	’s	’s	PART
cjfa-10416	180	14	independent	independent	ADJ
cjfa-10416	180	15	term	term	NOUN
cjfa-10416	180	16	,	,	PUNCT
cjfa-10416	180	17	ball	ball	NOUN
cjfa-10416	180	18	and	and	CCONJ
cjfa-10416	180	19	brown	brown	ADJ
cjfa-10416	180	20	(	(	PUNCT
cjfa-10416	180	21	1968	1968	NUM
cjfa-10416	180	22	)	)	PUNCT
cjfa-10416	180	23	deduce	deduce	VERB
cjfa-10416	180	24	the	the	DET
cjfa-10416	180	25	abnormal	abnormal	ADJ
cjfa-10416	180	26	return	return	NOUN
cjfa-10416	180	27	for	for	ADP
cjfa-10416	180	28	each	each	DET
cjfa-10416	180	29	stock	stock	NOUN
cjfa-10416	180	30	and	and	CCONJ
cjfa-10416	180	31	in	in	ADP
cjfa-10416	180	32	each	each	DET
cjfa-10416	180	33	period	period	NOUN
cjfa-10416	180	34	:	:	PUNCT
cjfa-10416	180	35	[	[	X
cjfa-10416	180	36	6	6	NUM
cjfa-10416	180	37	]	]	X
cjfa-10416	180	38	[	[	X
cjfa-10416	180	39	3	3	NUM
cjfa-10416	180	40	]	]	PUNCT
cjfa-10416	180	41	were	be	AUX
cjfa-10416	180	42	purged	purge	VERB
cjfa-10416	180	43	from	from	ADP
cjfa-10416	180	44	the	the	DET
cjfa-10416	180	45	object	object	NOUN
cjfa-10416	180	46	of	of	ADP
cjfa-10416	180	47	the	the	DET
cjfa-10416	180	48	empirical	empirical	ADJ
cjfa-10416	180	49	research	research	NOUN
cjfa-10416	180	50	,	,	PUNCT
cjfa-10416	180	51	which	which	PRON
cjfa-10416	180	52	has	have	VERB
cjfa-10416	180	53	the	the	DET
cjfa-10416	180	54	intent	intent	NOUN
cjfa-10416	180	55	to	to	PART
cjfa-10416	180	56	analyze	analyze	VERB
cjfa-10416	180	57	the	the	DET
cjfa-10416	180	58	impact	impact	NOUN
cjfa-10416	180	59	of	of	ADP
cjfa-10416	180	60	other	other	ADJ
cjfa-10416	180	61	events	event	NOUN
cjfa-10416	180	62	,	,	PUNCT
cjfa-10416	180	63	through	through	ADP
cjfa-10416	180	64	the	the	DET
cjfa-10416	180	65	correction	correction	NOUN
cjfa-10416	180	66	of	of	ADP
cjfa-10416	180	67	the	the	DET
cjfa-10416	180	68	respective	respective	ADJ
cjfa-10416	180	69	stock	stock	NOUN
cjfa-10416	180	70	prices	price	NOUN
cjfa-10416	180	71	.	.	PUNCT
cjfa-10416	181	1	models	model	NOUN
cjfa-10416	181	2	after	after	SCONJ
cjfa-10416	181	3	calculated	calculate	VERB
cjfa-10416	181	4	the	the	DET
cjfa-10416	181	5	logarithmic	logarithmic	ADJ
cjfa-10416	181	6	returns	return	NOUN
cjfa-10416	181	7	of	of	ADP
cjfa-10416	181	8	each	each	DET
cjfa-10416	181	9	company	company	NOUN
cjfa-10416	181	10	stock	stock	NOUN
cjfa-10416	181	11	price	price	NOUN
cjfa-10416	181	12	involved	involve	VERB
cjfa-10416	181	13	in	in	ADP
cjfa-10416	181	14	takeover	takeover	NOUN
cjfa-10416	181	15	bid	bid	NOUN
cjfa-10416	181	16	,	,	PUNCT
cjfa-10416	181	17	we	we	PRON
cjfa-10416	181	18	determine	determine	VERB
cjfa-10416	181	19	the	the	DET
cjfa-10416	181	20	emerging	emerge	VERB
cjfa-10416	181	21	abnormal	abnormal	ADJ
cjfa-10416	181	22	returns	return	NOUN
cjfa-10416	181	23	of	of	ADP
cjfa-10416	181	24	the	the	DET
cjfa-10416	181	25	preliminary	preliminary	ADJ
cjfa-10416	181	26	announcement	announcement	NOUN
cjfa-10416	181	27	of	of	ADP
cjfa-10416	181	28	the	the	DET
cjfa-10416	181	29	bid	bid	NOUN
cjfa-10416	181	30	.	.	PUNCT
cjfa-10416	182	1	at	at	ADP
cjfa-10416	182	2	a	a	DET
cjfa-10416	182	3	first	first	ADJ
cjfa-10416	182	4	stage	stage	NOUN
cjfa-10416	182	5	we	we	PRON
cjfa-10416	182	6	used	use	VERB
cjfa-10416	182	7	the	the	DET
cjfa-10416	182	8	model	model	NOUN
cjfa-10416	182	9	determined	determine	VERB
cjfa-10416	182	10	by	by	ADP
cjfa-10416	182	11	sharpe	sharpe	PROPN
cjfa-10416	182	12	-	-	PUNCT
cjfa-10416	182	13	lintner	lintner	PROPN
cjfa-10416	182	14	(	(	PUNCT
cjfa-10416	182	15	sharpe	sharpe	NOUN
cjfa-10416	182	16	,	,	PUNCT
cjfa-10416	182	17	1964	1964	NUM
cjfa-10416	182	18	;	;	PUNCT
cjfa-10416	182	19	lintner	lintner	NOUN
cjfa-10416	182	20	,	,	PUNCT
cjfa-10416	182	21	1965	1965	NUM
cjfa-10416	182	22	)	)	PUNCT
cjfa-10416	182	23	in	in	ADP
cjfa-10416	182	24	capital	capital	NOUN
cjfa-10416	182	25	asset	asset	NOUN
cjfa-10416	182	26	pricing	pricing	NOUN
cjfa-10416	182	27	model	model	NOUN
cjfa-10416	182	28	context	context	NOUN
cjfa-10416	182	29	:	:	PUNCT
cjfa-10416	182	30	[	[	X
cjfa-10416	182	31	3	3	X
cjfa-10416	182	32	]	]	PUNCT
cjfa-10416	182	33	is	be	AUX
cjfa-10416	182	34	the	the	DET
cjfa-10416	182	35	return	return	NOUN
cjfa-10416	182	36	of	of	ADP
cjfa-10416	182	37	an	an	DET
cjfa-10416	182	38	asset	asset	NOUN
cjfa-10416	182	39	with	with	ADP
cjfa-10416	182	40	no	no	DET
cjfa-10416	182	41	risk	risk	NOUN
cjfa-10416	182	42	in	in	ADP
cjfa-10416	182	43	the	the	DET
cjfa-10416	182	44	period	period	NOUN
cjfa-10416	182	45	,	,	PUNCT
cjfa-10416	182	46	is	be	AUX
cjfa-10416	182	47	the	the	DET
cjfa-10416	182	48	return	return	NOUN
cjfa-10416	182	49	of	of	ADP
cjfa-10416	182	50	the	the	DET
cjfa-10416	182	51	market	market	NOUN
cjfa-10416	182	52	index	index	NOUN
cjfa-10416	182	53	in	in	ADP
cjfa-10416	182	54	the	the	DET
cjfa-10416	182	55	period	period	NOUN
cjfa-10416	182	56	and	and	CCONJ
cjfa-10416	182	57	is	be	AUX
cjfa-10416	182	58	the	the	DET
cjfa-10416	182	59	sensitivity	sensitivity	NOUN
cjfa-10416	182	60	of	of	ADP
cjfa-10416	182	61	the	the	DET
cjfa-10416	182	62	stock	stock	NOUN
cjfa-10416	182	63	return	return	NOUN
cjfa-10416	182	64	in	in	ADP
cjfa-10416	182	65	relation	relation	NOUN
cjfa-10416	182	66	to	to	ADP
cjfa-10416	182	67	the	the	DET
cjfa-10416	182	68	return	return	NOUN
cjfa-10416	182	69	of	of	ADP
cjfa-10416	182	70	the	the	DET
cjfa-10416	182	71	market	market	NOUN
cjfa-10416	182	72	index	index	NOUN
cjfa-10416	182	73	,	,	PUNCT
cjfa-10416	182	74	which	which	PRON
cjfa-10416	182	75	may	may	AUX
cjfa-10416	182	76	be	be	AUX
cjfa-10416	182	77	estimated	estimate	VERB
cjfa-10416	182	78	through	through	ADP
cjfa-10416	182	79	the	the	DET
cjfa-10416	182	80	implementation	implementation	NOUN
cjfa-10416	182	81	of	of	ADP
cjfa-10416	182	82	the	the	DET
cjfa-10416	182	83	ordinary	ordinary	ADJ
cjfa-10416	182	84	least	least	ADJ
cjfa-10416	182	85	squares	square	NOUN
cjfa-10416	182	86	–	–	PUNCT
cjfa-10416	182	87	ols	ol	NOUN
cjfa-10416	182	88	method	method	NOUN
cjfa-10416	182	89	.	.	PUNCT
cjfa-10416	183	1	by	by	ADP
cjfa-10416	183	2	substituting	substitute	VERB
cjfa-10416	183	3	the	the	DET
cjfa-10416	183	4	expected	expect	VERB
cjfa-10416	183	5	returns	return	NOUN
cjfa-10416	183	6	by	by	ADP
cjfa-10416	183	7	the	the	DET
cjfa-10416	183	8	observed	observe	VERB
cjfa-10416	183	9	returns	return	NOUN
cjfa-10416	183	10	in	in	ADP
cjfa-10416	183	11	the	the	DET
cjfa-10416	183	12	equation	equation	NOUN
cjfa-10416	183	13	[	[	X
cjfa-10416	183	14	3	3	NUM
cjfa-10416	183	15	]	]	PUNCT
cjfa-10416	183	16	,	,	PUNCT
cjfa-10416	183	17	it	it	PRON
cjfa-10416	183	18	results	result	VERB
cjfa-10416	183	19	:	:	PUNCT
cjfa-10416	184	1	[	[	X
cjfa-10416	184	2	4	4	X
cjfa-10416	184	3	]	]	PUNCT
cjfa-10416	184	4	where	where	SCONJ
cjfa-10416	184	5	is	be	AUX
cjfa-10416	184	6	the	the	DET
cjfa-10416	184	7	estimate	estimate	NOUN
cjfa-10416	184	8	of	of	ADP
cjfa-10416	184	9	the	the	DET
cjfa-10416	184	10	residual	residual	ADJ
cjfa-10416	184	11	term	term	NOUN
cjfa-10416	184	12	for	for	ADP
cjfa-10416	184	13	each	each	DET
cjfa-10416	184	14	stock	stock	NOUN
cjfa-10416	184	15	in	in	ADP
cjfa-10416	184	16	the	the	DET
cjfa-10416	184	17	period	period	NOUN
cjfa-10416	184	18	,	,	PUNCT
cjfa-10416	184	19	which	which	PRON
cjfa-10416	184	20	reflects	reflect	VERB
cjfa-10416	184	21	the	the	DET
cjfa-10416	184	22	abnormal	abnormal	ADJ
cjfa-10416	184	23	effect	effect	NOUN
cjfa-10416	184	24	of	of	ADP
cjfa-10416	184	25	the	the	DET
cjfa-10416	184	26	disclosure	disclosure	NOUN
cjfa-10416	184	27	of	of	ADP
cjfa-10416	184	28	the	the	DET
cjfa-10416	184	29	announcement	announcement	NOUN
cjfa-10416	184	30	on	on	ADP
cjfa-10416	184	31	the	the	DET
cjfa-10416	184	32	stock	stock	NOUN
cjfa-10416	184	33	’s	’s	PART
cjfa-10416	184	34	return	return	NOUN
cjfa-10416	184	35	.	.	PUNCT
cjfa-10416	185	1	model	model	NOUN
cjfa-10416	185	2	#	#	SYM
cjfa-10416	185	3	1	1	NUM
cjfa-10416	185	4	–	–	PUNCT
cjfa-10416	185	5	ball	ball	NOUN
cjfa-10416	185	6	&	&	CCONJ
cjfa-10416	185	7	brown	brown	PROPN
cjfa-10416	185	8	:	:	PUNCT
cjfa-10416	185	9	reformulating	reformulate	VERB
cjfa-10416	185	10	the	the	DET
cjfa-10416	185	11	equation	equation	NOUN
cjfa-10416	185	12	[	[	X
cjfa-10416	185	13	4	4	NUM
cjfa-10416	185	14	]	]	PUNCT
cjfa-10416	185	15	,	,	PUNCT
cjfa-10416	185	16	it	it	PRON
cjfa-10416	185	17	can	can	AUX
cjfa-10416	185	18	be	be	AUX
cjfa-10416	185	19	obtained	obtain	VERB
cjfa-10416	185	20	another	another	DET
cjfa-10416	185	21	equivalent	equivalent	ADJ
cjfa-10416	185	22	equation	equation	NOUN
cjfa-10416	185	23	:	:	PUNCT
cjfa-10416	186	1	[	[	X
cjfa-10416	186	2	5	5	NUM
cjfa-10416	186	3	]	]	PUNCT
cjfa-10416	186	4	considering	consider	VERB
cjfa-10416	186	5	estimated	estimate	VERB
cjfa-10416	186	6	from	from	ADP
cjfa-10416	186	7	the	the	DET
cjfa-10416	186	8	ols	ol	NOUN
cjfa-10416	186	9	method	method	NOUN
cjfa-10416	186	10	with	with	ADP
cjfa-10416	186	11	the	the	DET
cjfa-10416	186	12	regression	regression	NOUN
cjfa-10416	186	13	’s	’s	PART
cjfa-10416	186	14	independent	independent	ADJ
cjfa-10416	186	15	term	term	NOUN
cjfa-10416	186	16	,	,	PUNCT
cjfa-10416	186	17	ball	ball	NOUN
cjfa-10416	186	18	and	and	CCONJ
cjfa-10416	186	19	brown	brown	ADJ
cjfa-10416	186	20	(	(	PUNCT
cjfa-10416	186	21	1968	1968	NUM
cjfa-10416	186	22	)	)	PUNCT
cjfa-10416	186	23	deduce	deduce	VERB
cjfa-10416	186	24	the	the	DET
cjfa-10416	186	25	abnormal	abnormal	ADJ
cjfa-10416	186	26	return	return	NOUN
cjfa-10416	186	27	for	for	ADP
cjfa-10416	186	28	each	each	DET
cjfa-10416	186	29	stock	stock	NOUN
cjfa-10416	186	30	and	and	CCONJ
cjfa-10416	186	31	in	in	ADP
cjfa-10416	186	32	each	each	DET
cjfa-10416	186	33	period	period	NOUN
cjfa-10416	186	34	:	:	PUNCT
cjfa-10416	186	35	[	[	X
cjfa-10416	186	36	6	6	NUM
cjfa-10416	186	37	]	]	PUNCT
cjfa-10416	186	38	is	be	AUX
cjfa-10416	186	39	the	the	DET
cjfa-10416	186	40	return	return	NOUN
cjfa-10416	186	41	of	of	ADP
cjfa-10416	186	42	an	an	DET
cjfa-10416	186	43	asset	asset	NOUN
cjfa-10416	186	44	with	with	ADP
cjfa-10416	186	45	no	no	DET
cjfa-10416	186	46	risk	risk	NOUN
cjfa-10416	186	47	in	in	ADP
cjfa-10416	186	48	the	the	DET
cjfa-10416	186	49	t	t	NOUN
cjfa-10416	186	50	period	period	NOUN
cjfa-10416	186	51	,	,	PUNCT
cjfa-10416	186	52	were	be	AUX
cjfa-10416	186	53	purged	purge	VERB
cjfa-10416	186	54	from	from	ADP
cjfa-10416	186	55	the	the	DET
cjfa-10416	186	56	object	object	NOUN
cjfa-10416	186	57	of	of	ADP
cjfa-10416	186	58	the	the	DET
cjfa-10416	186	59	empirical	empirical	ADJ
cjfa-10416	186	60	research	research	NOUN
cjfa-10416	186	61	,	,	PUNCT
cjfa-10416	186	62	which	which	PRON
cjfa-10416	186	63	has	have	VERB
cjfa-10416	186	64	the	the	DET
cjfa-10416	186	65	intent	intent	NOUN
cjfa-10416	186	66	to	to	PART
cjfa-10416	186	67	analyze	analyze	VERB
cjfa-10416	186	68	the	the	DET
cjfa-10416	186	69	impact	impact	NOUN
cjfa-10416	186	70	of	of	ADP
cjfa-10416	186	71	other	other	ADJ
cjfa-10416	186	72	events	event	NOUN
cjfa-10416	186	73	,	,	PUNCT
cjfa-10416	186	74	through	through	ADP
cjfa-10416	186	75	the	the	DET
cjfa-10416	186	76	correction	correction	NOUN
cjfa-10416	186	77	of	of	ADP
cjfa-10416	186	78	the	the	DET
cjfa-10416	186	79	respective	respective	ADJ
cjfa-10416	186	80	stock	stock	NOUN
cjfa-10416	186	81	prices	price	NOUN
cjfa-10416	186	82	.	.	PUNCT
cjfa-10416	187	1	models	model	NOUN
cjfa-10416	187	2	after	after	SCONJ
cjfa-10416	187	3	calculated	calculate	VERB
cjfa-10416	187	4	the	the	DET
cjfa-10416	187	5	logarithmic	logarithmic	ADJ
cjfa-10416	187	6	returns	return	NOUN
cjfa-10416	187	7	of	of	ADP
cjfa-10416	187	8	each	each	DET
cjfa-10416	187	9	company	company	NOUN
cjfa-10416	187	10	stock	stock	NOUN
cjfa-10416	187	11	price	price	NOUN
cjfa-10416	187	12	involved	involve	VERB
cjfa-10416	187	13	in	in	ADP
cjfa-10416	187	14	takeover	takeover	NOUN
cjfa-10416	187	15	bid	bid	NOUN
cjfa-10416	187	16	,	,	PUNCT
cjfa-10416	187	17	we	we	PRON
cjfa-10416	187	18	determine	determine	VERB
cjfa-10416	187	19	the	the	DET
cjfa-10416	187	20	emerging	emerge	VERB
cjfa-10416	187	21	abnormal	abnormal	ADJ
cjfa-10416	187	22	returns	return	NOUN
cjfa-10416	187	23	of	of	ADP
cjfa-10416	187	24	the	the	DET
cjfa-10416	187	25	preliminary	preliminary	ADJ
cjfa-10416	187	26	announcement	announcement	NOUN
cjfa-10416	187	27	of	of	ADP
cjfa-10416	187	28	the	the	DET
cjfa-10416	187	29	bid	bid	NOUN
cjfa-10416	187	30	.	.	PUNCT
cjfa-10416	188	1	at	at	ADP
cjfa-10416	188	2	a	a	DET
cjfa-10416	188	3	first	first	ADJ
cjfa-10416	188	4	stage	stage	NOUN
cjfa-10416	188	5	we	we	PRON
cjfa-10416	188	6	used	use	VERB
cjfa-10416	188	7	the	the	DET
cjfa-10416	188	8	model	model	NOUN
cjfa-10416	188	9	determined	determine	VERB
cjfa-10416	188	10	by	by	ADP
cjfa-10416	188	11	sharpe	sharpe	PROPN
cjfa-10416	188	12	-	-	PUNCT
cjfa-10416	188	13	lintner	lintner	PROPN
cjfa-10416	188	14	(	(	PUNCT
cjfa-10416	188	15	sharpe	sharpe	NOUN
cjfa-10416	188	16	,	,	PUNCT
cjfa-10416	188	17	1964	1964	NUM
cjfa-10416	188	18	;	;	PUNCT
cjfa-10416	188	19	lintner	lintner	NOUN
cjfa-10416	188	20	,	,	PUNCT
cjfa-10416	188	21	1965	1965	NUM
cjfa-10416	188	22	)	)	PUNCT
cjfa-10416	188	23	in	in	ADP
cjfa-10416	188	24	capital	capital	NOUN
cjfa-10416	188	25	asset	asset	NOUN
cjfa-10416	188	26	pricing	pricing	NOUN
cjfa-10416	188	27	model	model	NOUN
cjfa-10416	188	28	context	context	NOUN
cjfa-10416	188	29	:	:	PUNCT
cjfa-10416	188	30	[	[	X
cjfa-10416	188	31	3	3	X
cjfa-10416	188	32	]	]	PUNCT
cjfa-10416	188	33	is	be	AUX
cjfa-10416	188	34	the	the	DET
cjfa-10416	188	35	return	return	NOUN
cjfa-10416	188	36	of	of	ADP
cjfa-10416	188	37	an	an	DET
cjfa-10416	188	38	asset	asset	NOUN
cjfa-10416	188	39	with	with	ADP
cjfa-10416	188	40	no	no	DET
cjfa-10416	188	41	risk	risk	NOUN
cjfa-10416	188	42	in	in	ADP
cjfa-10416	188	43	the	the	DET
cjfa-10416	188	44	period	period	NOUN
cjfa-10416	188	45	,	,	PUNCT
cjfa-10416	188	46	is	be	AUX
cjfa-10416	188	47	the	the	DET
cjfa-10416	188	48	return	return	NOUN
cjfa-10416	188	49	of	of	ADP
cjfa-10416	188	50	the	the	DET
cjfa-10416	188	51	market	market	NOUN
cjfa-10416	188	52	index	index	NOUN
cjfa-10416	188	53	in	in	ADP
cjfa-10416	188	54	the	the	DET
cjfa-10416	188	55	period	period	NOUN
cjfa-10416	188	56	and	and	CCONJ
cjfa-10416	188	57	is	be	AUX
cjfa-10416	188	58	the	the	DET
cjfa-10416	188	59	sensitivity	sensitivity	NOUN
cjfa-10416	188	60	of	of	ADP
cjfa-10416	188	61	the	the	DET
cjfa-10416	188	62	stock	stock	NOUN
cjfa-10416	188	63	return	return	NOUN
cjfa-10416	188	64	in	in	ADP
cjfa-10416	188	65	relation	relation	NOUN
cjfa-10416	188	66	to	to	ADP
cjfa-10416	188	67	the	the	DET
cjfa-10416	188	68	return	return	NOUN
cjfa-10416	188	69	of	of	ADP
cjfa-10416	188	70	the	the	DET
cjfa-10416	188	71	market	market	NOUN
cjfa-10416	188	72	index	index	NOUN
cjfa-10416	188	73	,	,	PUNCT
cjfa-10416	188	74	which	which	PRON
cjfa-10416	188	75	may	may	AUX
cjfa-10416	188	76	be	be	AUX
cjfa-10416	188	77	estimated	estimate	VERB
cjfa-10416	188	78	through	through	ADP
cjfa-10416	188	79	the	the	DET
cjfa-10416	188	80	implementation	implementation	NOUN
cjfa-10416	188	81	of	of	ADP
cjfa-10416	188	82	the	the	DET
cjfa-10416	188	83	ordinary	ordinary	ADJ
cjfa-10416	188	84	least	least	ADJ
cjfa-10416	188	85	squares	square	NOUN
cjfa-10416	188	86	–	–	PUNCT
cjfa-10416	188	87	ols	ol	NOUN
cjfa-10416	188	88	method	method	NOUN
cjfa-10416	188	89	.	.	PUNCT
cjfa-10416	189	1	by	by	ADP
cjfa-10416	189	2	substituting	substitute	VERB
cjfa-10416	189	3	the	the	DET
cjfa-10416	189	4	expected	expect	VERB
cjfa-10416	189	5	returns	return	NOUN
cjfa-10416	189	6	by	by	ADP
cjfa-10416	189	7	the	the	DET
cjfa-10416	189	8	observed	observe	VERB
cjfa-10416	189	9	returns	return	NOUN
cjfa-10416	189	10	in	in	ADP
cjfa-10416	189	11	the	the	DET
cjfa-10416	189	12	equation	equation	NOUN
cjfa-10416	189	13	[	[	X
cjfa-10416	189	14	3	3	NUM
cjfa-10416	189	15	]	]	PUNCT
cjfa-10416	189	16	,	,	PUNCT
cjfa-10416	189	17	it	it	PRON
cjfa-10416	189	18	results	result	VERB
cjfa-10416	189	19	:	:	PUNCT
cjfa-10416	190	1	[	[	X
cjfa-10416	190	2	4	4	X
cjfa-10416	190	3	]	]	PUNCT
cjfa-10416	190	4	where	where	SCONJ
cjfa-10416	190	5	is	be	AUX
cjfa-10416	190	6	the	the	DET
cjfa-10416	190	7	estimate	estimate	NOUN
cjfa-10416	190	8	of	of	ADP
cjfa-10416	190	9	the	the	DET
cjfa-10416	190	10	residual	residual	ADJ
cjfa-10416	190	11	term	term	NOUN
cjfa-10416	190	12	for	for	ADP
cjfa-10416	190	13	each	each	DET
cjfa-10416	190	14	stock	stock	NOUN
cjfa-10416	190	15	in	in	ADP
cjfa-10416	190	16	the	the	DET
cjfa-10416	190	17	period	period	NOUN
cjfa-10416	190	18	,	,	PUNCT
cjfa-10416	190	19	which	which	PRON
cjfa-10416	190	20	reflects	reflect	VERB
cjfa-10416	190	21	the	the	DET
cjfa-10416	190	22	abnormal	abnormal	ADJ
cjfa-10416	190	23	effect	effect	NOUN
cjfa-10416	190	24	of	of	ADP
cjfa-10416	190	25	the	the	DET
cjfa-10416	190	26	disclosure	disclosure	NOUN
cjfa-10416	190	27	of	of	ADP
cjfa-10416	190	28	the	the	DET
cjfa-10416	190	29	announcement	announcement	NOUN
cjfa-10416	190	30	on	on	ADP
cjfa-10416	190	31	the	the	DET
cjfa-10416	190	32	stock	stock	NOUN
cjfa-10416	190	33	’s	’s	PART
cjfa-10416	190	34	return	return	NOUN
cjfa-10416	190	35	.	.	PUNCT
cjfa-10416	191	1	model	model	NOUN
cjfa-10416	191	2	#	#	SYM
cjfa-10416	191	3	1	1	NUM
cjfa-10416	191	4	–	–	PUNCT
cjfa-10416	191	5	ball	ball	NOUN
cjfa-10416	191	6	&	&	CCONJ
cjfa-10416	191	7	brown	brown	PROPN
cjfa-10416	191	8	:	:	PUNCT
cjfa-10416	191	9	reformulating	reformulate	VERB
cjfa-10416	191	10	the	the	DET
cjfa-10416	191	11	equation	equation	NOUN
cjfa-10416	191	12	[	[	X
cjfa-10416	191	13	4	4	NUM
cjfa-10416	191	14	]	]	PUNCT
cjfa-10416	191	15	,	,	PUNCT
cjfa-10416	191	16	it	it	PRON
cjfa-10416	191	17	can	can	AUX
cjfa-10416	191	18	be	be	AUX
cjfa-10416	191	19	obtained	obtain	VERB
cjfa-10416	191	20	another	another	DET
cjfa-10416	191	21	equivalent	equivalent	ADJ
cjfa-10416	191	22	equation	equation	NOUN
cjfa-10416	191	23	:	:	PUNCT
cjfa-10416	192	1	[	[	X
cjfa-10416	192	2	5	5	NUM
cjfa-10416	192	3	]	]	PUNCT
cjfa-10416	192	4	considering	consider	VERB
cjfa-10416	192	5	estimated	estimate	VERB
cjfa-10416	192	6	from	from	ADP
cjfa-10416	192	7	the	the	DET
cjfa-10416	192	8	ols	ol	NOUN
cjfa-10416	192	9	method	method	NOUN
cjfa-10416	192	10	with	with	ADP
cjfa-10416	192	11	the	the	DET
cjfa-10416	192	12	regression	regression	NOUN
cjfa-10416	192	13	’s	’s	PART
cjfa-10416	192	14	independent	independent	ADJ
cjfa-10416	192	15	term	term	NOUN
cjfa-10416	192	16	,	,	PUNCT
cjfa-10416	192	17	ball	ball	NOUN
cjfa-10416	192	18	and	and	CCONJ
cjfa-10416	192	19	brown	brown	ADJ
cjfa-10416	192	20	(	(	PUNCT
cjfa-10416	192	21	1968	1968	NUM
cjfa-10416	192	22	)	)	PUNCT
cjfa-10416	192	23	deduce	deduce	VERB
cjfa-10416	192	24	the	the	DET
cjfa-10416	192	25	abnormal	abnormal	ADJ
cjfa-10416	192	26	return	return	NOUN
cjfa-10416	192	27	for	for	ADP
cjfa-10416	192	28	each	each	DET
cjfa-10416	192	29	stock	stock	NOUN
cjfa-10416	192	30	and	and	CCONJ
cjfa-10416	192	31	in	in	ADP
cjfa-10416	192	32	each	each	DET
cjfa-10416	192	33	period	period	NOUN
cjfa-10416	192	34	:	:	PUNCT
cjfa-10416	192	35	[	[	X
cjfa-10416	192	36	6	6	NUM
cjfa-10416	192	37	]	]	PUNCT
cjfa-10416	192	38	is	be	AUX
cjfa-10416	192	39	the	the	DET
cjfa-10416	192	40	return	return	NOUN
cjfa-10416	192	41	of	of	ADP
cjfa-10416	192	42	the	the	DET
cjfa-10416	192	43	market	market	NOUN
cjfa-10416	192	44	index	index	NOUN
cjfa-10416	192	45	in	in	ADP
cjfa-10416	192	46	the	the	DET
cjfa-10416	192	47	t	t	NOUN
cjfa-10416	192	48	period	period	NOUN
cjfa-10416	192	49	and	and	CCONJ
cjfa-10416	192	50	were	be	AUX
cjfa-10416	192	51	purged	purge	VERB
cjfa-10416	192	52	from	from	ADP
cjfa-10416	192	53	the	the	DET
cjfa-10416	192	54	object	object	NOUN
cjfa-10416	192	55	of	of	ADP
cjfa-10416	192	56	the	the	DET
cjfa-10416	192	57	empirical	empirical	ADJ
cjfa-10416	192	58	research	research	NOUN
cjfa-10416	192	59	,	,	PUNCT
cjfa-10416	192	60	which	which	PRON
cjfa-10416	192	61	has	have	VERB
cjfa-10416	192	62	the	the	DET
cjfa-10416	192	63	intent	intent	NOUN
cjfa-10416	192	64	to	to	PART
cjfa-10416	192	65	analyze	analyze	VERB
cjfa-10416	192	66	the	the	DET
cjfa-10416	192	67	impact	impact	NOUN
cjfa-10416	192	68	of	of	ADP
cjfa-10416	192	69	other	other	ADJ
cjfa-10416	192	70	events	event	NOUN
cjfa-10416	192	71	,	,	PUNCT
cjfa-10416	192	72	through	through	ADP
cjfa-10416	192	73	the	the	DET
cjfa-10416	192	74	correction	correction	NOUN
cjfa-10416	192	75	of	of	ADP
cjfa-10416	192	76	the	the	DET
cjfa-10416	192	77	respective	respective	ADJ
cjfa-10416	192	78	stock	stock	NOUN
cjfa-10416	192	79	prices	price	NOUN
cjfa-10416	192	80	.	.	PUNCT
cjfa-10416	193	1	models	model	NOUN
cjfa-10416	193	2	after	after	SCONJ
cjfa-10416	193	3	calculated	calculate	VERB
cjfa-10416	193	4	the	the	DET
cjfa-10416	193	5	logarithmic	logarithmic	ADJ
cjfa-10416	193	6	returns	return	NOUN
cjfa-10416	193	7	of	of	ADP
cjfa-10416	193	8	each	each	DET
cjfa-10416	193	9	company	company	NOUN
cjfa-10416	193	10	stock	stock	NOUN
cjfa-10416	193	11	price	price	NOUN
cjfa-10416	193	12	involved	involve	VERB
cjfa-10416	193	13	in	in	ADP
cjfa-10416	193	14	takeover	takeover	NOUN
cjfa-10416	193	15	bid	bid	NOUN
cjfa-10416	193	16	,	,	PUNCT
cjfa-10416	193	17	we	we	PRON
cjfa-10416	193	18	determine	determine	VERB
cjfa-10416	193	19	the	the	DET
cjfa-10416	193	20	emerging	emerge	VERB
cjfa-10416	193	21	abnormal	abnormal	ADJ
cjfa-10416	193	22	returns	return	NOUN
cjfa-10416	193	23	of	of	ADP
cjfa-10416	193	24	the	the	DET
cjfa-10416	193	25	preliminary	preliminary	ADJ
cjfa-10416	193	26	announcement	announcement	NOUN
cjfa-10416	193	27	of	of	ADP
cjfa-10416	193	28	the	the	DET
cjfa-10416	193	29	bid	bid	NOUN
cjfa-10416	193	30	.	.	PUNCT
cjfa-10416	194	1	at	at	ADP
cjfa-10416	194	2	a	a	DET
cjfa-10416	194	3	first	first	ADJ
cjfa-10416	194	4	stage	stage	NOUN
cjfa-10416	194	5	we	we	PRON
cjfa-10416	194	6	used	use	VERB
cjfa-10416	194	7	the	the	DET
cjfa-10416	194	8	model	model	NOUN
cjfa-10416	194	9	determined	determine	VERB
cjfa-10416	194	10	by	by	ADP
cjfa-10416	194	11	sharpe	sharpe	PROPN
cjfa-10416	194	12	-	-	PUNCT
cjfa-10416	194	13	lintner	lintner	PROPN
cjfa-10416	194	14	(	(	PUNCT
cjfa-10416	194	15	sharpe	sharpe	NOUN
cjfa-10416	194	16	,	,	PUNCT
cjfa-10416	194	17	1964	1964	NUM
cjfa-10416	194	18	;	;	PUNCT
cjfa-10416	194	19	lintner	lintner	NOUN
cjfa-10416	194	20	,	,	PUNCT
cjfa-10416	194	21	1965	1965	NUM
cjfa-10416	194	22	)	)	PUNCT
cjfa-10416	194	23	in	in	ADP
cjfa-10416	194	24	capital	capital	NOUN
cjfa-10416	194	25	asset	asset	NOUN
cjfa-10416	194	26	pricing	pricing	NOUN
cjfa-10416	194	27	model	model	NOUN
cjfa-10416	194	28	context	context	NOUN
cjfa-10416	194	29	:	:	PUNCT
cjfa-10416	194	30	[	[	X
cjfa-10416	194	31	3	3	X
cjfa-10416	194	32	]	]	PUNCT
cjfa-10416	194	33	is	be	AUX
cjfa-10416	194	34	the	the	DET
cjfa-10416	194	35	return	return	NOUN
cjfa-10416	194	36	of	of	ADP
cjfa-10416	194	37	an	an	DET
cjfa-10416	194	38	asset	asset	NOUN
cjfa-10416	194	39	with	with	ADP
cjfa-10416	194	40	no	no	DET
cjfa-10416	194	41	risk	risk	NOUN
cjfa-10416	194	42	in	in	ADP
cjfa-10416	194	43	the	the	DET
cjfa-10416	194	44	period	period	NOUN
cjfa-10416	194	45	,	,	PUNCT
cjfa-10416	194	46	is	be	AUX
cjfa-10416	194	47	the	the	DET
cjfa-10416	194	48	return	return	NOUN
cjfa-10416	194	49	of	of	ADP
cjfa-10416	194	50	the	the	DET
cjfa-10416	194	51	market	market	NOUN
cjfa-10416	194	52	index	index	NOUN
cjfa-10416	194	53	in	in	ADP
cjfa-10416	194	54	the	the	DET
cjfa-10416	194	55	period	period	NOUN
cjfa-10416	194	56	and	and	CCONJ
cjfa-10416	194	57	is	be	AUX
cjfa-10416	194	58	the	the	DET
cjfa-10416	194	59	sensitivity	sensitivity	NOUN
cjfa-10416	194	60	of	of	ADP
cjfa-10416	194	61	the	the	DET
cjfa-10416	194	62	stock	stock	NOUN
cjfa-10416	194	63	return	return	NOUN
cjfa-10416	194	64	in	in	ADP
cjfa-10416	194	65	relation	relation	NOUN
cjfa-10416	194	66	to	to	ADP
cjfa-10416	194	67	the	the	DET
cjfa-10416	194	68	return	return	NOUN
cjfa-10416	194	69	of	of	ADP
cjfa-10416	194	70	the	the	DET
cjfa-10416	194	71	market	market	NOUN
cjfa-10416	194	72	index	index	NOUN
cjfa-10416	194	73	,	,	PUNCT
cjfa-10416	194	74	which	which	PRON
cjfa-10416	194	75	may	may	AUX
cjfa-10416	194	76	be	be	AUX
cjfa-10416	194	77	estimated	estimate	VERB
cjfa-10416	194	78	through	through	ADP
cjfa-10416	194	79	the	the	DET
cjfa-10416	194	80	implementation	implementation	NOUN
cjfa-10416	194	81	of	of	ADP
cjfa-10416	194	82	the	the	DET
cjfa-10416	194	83	ordinary	ordinary	ADJ
cjfa-10416	194	84	least	least	ADJ
cjfa-10416	194	85	squares	square	NOUN
cjfa-10416	194	86	–	–	PUNCT
cjfa-10416	194	87	ols	ol	NOUN
cjfa-10416	194	88	method	method	NOUN
cjfa-10416	194	89	.	.	PUNCT
cjfa-10416	195	1	by	by	ADP
cjfa-10416	195	2	substituting	substitute	VERB
cjfa-10416	195	3	the	the	DET
cjfa-10416	195	4	expected	expect	VERB
cjfa-10416	195	5	returns	return	NOUN
cjfa-10416	195	6	by	by	ADP
cjfa-10416	195	7	the	the	DET
cjfa-10416	195	8	observed	observe	VERB
cjfa-10416	195	9	returns	return	NOUN
cjfa-10416	195	10	in	in	ADP
cjfa-10416	195	11	the	the	DET
cjfa-10416	195	12	equation	equation	NOUN
cjfa-10416	195	13	[	[	X
cjfa-10416	195	14	3	3	NUM
cjfa-10416	195	15	]	]	PUNCT
cjfa-10416	195	16	,	,	PUNCT
cjfa-10416	195	17	it	it	PRON
cjfa-10416	195	18	results	result	VERB
cjfa-10416	195	19	:	:	PUNCT
cjfa-10416	196	1	[	[	X
cjfa-10416	196	2	4	4	X
cjfa-10416	196	3	]	]	PUNCT
cjfa-10416	196	4	where	where	SCONJ
cjfa-10416	196	5	is	be	AUX
cjfa-10416	196	6	the	the	DET
cjfa-10416	196	7	estimate	estimate	NOUN
cjfa-10416	196	8	of	of	ADP
cjfa-10416	196	9	the	the	DET
cjfa-10416	196	10	residual	residual	ADJ
cjfa-10416	196	11	term	term	NOUN
cjfa-10416	196	12	for	for	ADP
cjfa-10416	196	13	each	each	DET
cjfa-10416	196	14	stock	stock	NOUN
cjfa-10416	196	15	in	in	ADP
cjfa-10416	196	16	the	the	DET
cjfa-10416	196	17	period	period	NOUN
cjfa-10416	196	18	,	,	PUNCT
cjfa-10416	196	19	which	which	PRON
cjfa-10416	196	20	reflects	reflect	VERB
cjfa-10416	196	21	the	the	DET
cjfa-10416	196	22	abnormal	abnormal	ADJ
cjfa-10416	196	23	effect	effect	NOUN
cjfa-10416	196	24	of	of	ADP
cjfa-10416	196	25	the	the	DET
cjfa-10416	196	26	disclosure	disclosure	NOUN
cjfa-10416	196	27	of	of	ADP
cjfa-10416	196	28	the	the	DET
cjfa-10416	196	29	announcement	announcement	NOUN
cjfa-10416	196	30	on	on	ADP
cjfa-10416	196	31	the	the	DET
cjfa-10416	196	32	stock	stock	NOUN
cjfa-10416	196	33	’s	’s	PART
cjfa-10416	196	34	return	return	NOUN
cjfa-10416	196	35	.	.	PUNCT
cjfa-10416	197	1	model	model	NOUN
cjfa-10416	197	2	#	#	SYM
cjfa-10416	197	3	1	1	NUM
cjfa-10416	197	4	–	–	PUNCT
cjfa-10416	197	5	ball	ball	NOUN
cjfa-10416	197	6	&	&	CCONJ
cjfa-10416	197	7	brown	brown	PROPN
cjfa-10416	197	8	:	:	PUNCT
cjfa-10416	197	9	reformulating	reformulate	VERB
cjfa-10416	197	10	the	the	DET
cjfa-10416	197	11	equation	equation	NOUN
cjfa-10416	197	12	[	[	X
cjfa-10416	197	13	4	4	NUM
cjfa-10416	197	14	]	]	PUNCT
cjfa-10416	197	15	,	,	PUNCT
cjfa-10416	197	16	it	it	PRON
cjfa-10416	197	17	can	can	AUX
cjfa-10416	197	18	be	be	AUX
cjfa-10416	197	19	obtained	obtain	VERB
cjfa-10416	197	20	another	another	DET
cjfa-10416	197	21	equivalent	equivalent	ADJ
cjfa-10416	197	22	equation	equation	NOUN
cjfa-10416	197	23	:	:	PUNCT
cjfa-10416	198	1	[	[	X
cjfa-10416	198	2	5	5	NUM
cjfa-10416	198	3	]	]	PUNCT
cjfa-10416	198	4	considering	consider	VERB
cjfa-10416	198	5	estimated	estimate	VERB
cjfa-10416	198	6	from	from	ADP
cjfa-10416	198	7	the	the	DET
cjfa-10416	198	8	ols	ol	NOUN
cjfa-10416	198	9	method	method	NOUN
cjfa-10416	198	10	with	with	ADP
cjfa-10416	198	11	the	the	DET
cjfa-10416	198	12	regression	regression	NOUN
cjfa-10416	198	13	’s	’s	PART
cjfa-10416	198	14	independent	independent	ADJ
cjfa-10416	198	15	term	term	NOUN
cjfa-10416	198	16	,	,	PUNCT
cjfa-10416	198	17	ball	ball	NOUN
cjfa-10416	198	18	and	and	CCONJ
cjfa-10416	198	19	brown	brown	ADJ
cjfa-10416	198	20	(	(	PUNCT
cjfa-10416	198	21	1968	1968	NUM
cjfa-10416	198	22	)	)	PUNCT
cjfa-10416	198	23	deduce	deduce	VERB
cjfa-10416	198	24	the	the	DET
cjfa-10416	198	25	abnormal	abnormal	ADJ
cjfa-10416	198	26	return	return	NOUN
cjfa-10416	198	27	for	for	ADP
cjfa-10416	198	28	each	each	DET
cjfa-10416	198	29	stock	stock	NOUN
cjfa-10416	198	30	and	and	CCONJ
cjfa-10416	198	31	in	in	ADP
cjfa-10416	198	32	each	each	DET
cjfa-10416	198	33	period	period	NOUN
cjfa-10416	198	34	:	:	PUNCT
cjfa-10416	198	35	[	[	X
cjfa-10416	198	36	6	6	NUM
cjfa-10416	198	37	]	]	PUNCT
cjfa-10416	198	38	is	be	AUX
cjfa-10416	198	39	the	the	DET
cjfa-10416	198	40	sensitivity	sensitivity	NOUN
cjfa-10416	198	41	of	of	ADP
cjfa-10416	198	42	the	the	DET
cjfa-10416	198	43	stock	stock	NOUN
cjfa-10416	198	44	return	return	NOUN
cjfa-10416	198	45	i	i	PRON
cjfa-10416	198	46	in	in	ADP
cjfa-10416	198	47	relation	relation	NOUN
cjfa-10416	198	48	to	to	ADP
cjfa-10416	198	49	the	the	DET
cjfa-10416	198	50	return	return	NOUN
cjfa-10416	198	51	of	of	ADP
cjfa-10416	198	52	the	the	DET
cjfa-10416	198	53	market	market	NOUN
cjfa-10416	198	54	index	index	NOUN
cjfa-10416	198	55	m	m	PROPN
cjfa-10416	198	56	,	,	PUNCT
cjfa-10416	198	57	which	which	PRON
cjfa-10416	198	58	may	may	AUX
cjfa-10416	198	59	be	be	AUX
cjfa-10416	198	60	estimated	estimate	VERB
cjfa-10416	198	61	through	through	ADP
cjfa-10416	198	62	the	the	DET
cjfa-10416	198	63	implementation	implementation	NOUN
cjfa-10416	198	64	of	of	ADP
cjfa-10416	198	65	the	the	DET
cjfa-10416	198	66	ordinary	ordinary	ADJ
cjfa-10416	198	67	least	least	ADJ
cjfa-10416	198	68	squares	square	NOUN
cjfa-10416	198	69	–	–	PUNCT
cjfa-10416	198	70	ols	ol	NOUN
cjfa-10416	198	71	method	method	NOUN
cjfa-10416	198	72	.	.	PUNCT
cjfa-10416	199	1	by	by	ADP
cjfa-10416	199	2	substituting	substitute	VERB
cjfa-10416	199	3	the	the	DET
cjfa-10416	199	4	expected	expect	VERB
cjfa-10416	199	5	returns	return	NOUN
cjfa-10416	199	6	by	by	ADP
cjfa-10416	199	7	the	the	DET
cjfa-10416	199	8	observed	observe	VERB
cjfa-10416	199	9	returns	return	NOUN
cjfa-10416	199	10	in	in	ADP
cjfa-10416	199	11	the	the	DET
cjfa-10416	199	12	equation	equation	NOUN
cjfa-10416	199	13	[	[	X
cjfa-10416	199	14	3	3	NUM
cjfa-10416	199	15	]	]	PUNCT
cjfa-10416	199	16	,	,	PUNCT
cjfa-10416	199	17	it	it	PRON
cjfa-10416	199	18	results	result	VERB
cjfa-10416	199	19	:	:	PUNCT
cjfa-10416	199	20	were	be	AUX
cjfa-10416	199	21	purged	purge	VERB
cjfa-10416	199	22	from	from	ADP
cjfa-10416	199	23	the	the	DET
cjfa-10416	199	24	object	object	NOUN
cjfa-10416	199	25	of	of	ADP
cjfa-10416	199	26	the	the	DET
cjfa-10416	199	27	empirical	empirical	ADJ
cjfa-10416	199	28	research	research	NOUN
cjfa-10416	199	29	,	,	PUNCT
cjfa-10416	199	30	which	which	PRON
cjfa-10416	199	31	has	have	VERB
cjfa-10416	199	32	the	the	DET
cjfa-10416	199	33	intent	intent	NOUN
cjfa-10416	199	34	to	to	PART
cjfa-10416	199	35	analyze	analyze	VERB
cjfa-10416	199	36	the	the	DET
cjfa-10416	199	37	impact	impact	NOUN
cjfa-10416	199	38	of	of	ADP
cjfa-10416	199	39	other	other	ADJ
cjfa-10416	199	40	events	event	NOUN
cjfa-10416	199	41	,	,	PUNCT
cjfa-10416	199	42	through	through	ADP
cjfa-10416	199	43	the	the	DET
cjfa-10416	199	44	correction	correction	NOUN
cjfa-10416	199	45	of	of	ADP
cjfa-10416	199	46	the	the	DET
cjfa-10416	199	47	respective	respective	ADJ
cjfa-10416	199	48	stock	stock	NOUN
cjfa-10416	199	49	prices	price	NOUN
cjfa-10416	199	50	.	.	PUNCT
cjfa-10416	200	1	models	model	NOUN
cjfa-10416	200	2	after	after	SCONJ
cjfa-10416	200	3	calculated	calculate	VERB
cjfa-10416	200	4	the	the	DET
cjfa-10416	200	5	logarithmic	logarithmic	ADJ
cjfa-10416	200	6	returns	return	NOUN
cjfa-10416	200	7	of	of	ADP
cjfa-10416	200	8	each	each	DET
cjfa-10416	200	9	company	company	NOUN
cjfa-10416	200	10	stock	stock	NOUN
cjfa-10416	200	11	price	price	NOUN
cjfa-10416	200	12	involved	involve	VERB
cjfa-10416	200	13	in	in	ADP
cjfa-10416	200	14	takeover	takeover	NOUN
cjfa-10416	200	15	bid	bid	NOUN
cjfa-10416	200	16	,	,	PUNCT
cjfa-10416	200	17	we	we	PRON
cjfa-10416	200	18	determine	determine	VERB
cjfa-10416	200	19	the	the	DET
cjfa-10416	200	20	emerging	emerge	VERB
cjfa-10416	200	21	abnormal	abnormal	ADJ
cjfa-10416	200	22	returns	return	NOUN
cjfa-10416	200	23	of	of	ADP
cjfa-10416	200	24	the	the	DET
cjfa-10416	200	25	preliminary	preliminary	ADJ
cjfa-10416	200	26	announcement	announcement	NOUN
cjfa-10416	200	27	of	of	ADP
cjfa-10416	200	28	the	the	DET
cjfa-10416	200	29	bid	bid	NOUN
cjfa-10416	200	30	.	.	PUNCT
cjfa-10416	201	1	at	at	ADP
cjfa-10416	201	2	a	a	DET
cjfa-10416	201	3	first	first	ADJ
cjfa-10416	201	4	stage	stage	NOUN
cjfa-10416	201	5	we	we	PRON
cjfa-10416	201	6	used	use	VERB
cjfa-10416	201	7	the	the	DET
cjfa-10416	201	8	model	model	NOUN
cjfa-10416	201	9	determined	determine	VERB
cjfa-10416	201	10	by	by	ADP
cjfa-10416	201	11	sharpe	sharpe	PROPN
cjfa-10416	201	12	-	-	PUNCT
cjfa-10416	201	13	lintner	lintner	PROPN
cjfa-10416	201	14	(	(	PUNCT
cjfa-10416	201	15	sharpe	sharpe	NOUN
cjfa-10416	201	16	,	,	PUNCT
cjfa-10416	201	17	1964	1964	NUM
cjfa-10416	201	18	;	;	PUNCT
cjfa-10416	201	19	lintner	lintner	NOUN
cjfa-10416	201	20	,	,	PUNCT
cjfa-10416	201	21	1965	1965	NUM
cjfa-10416	201	22	)	)	PUNCT
cjfa-10416	201	23	in	in	ADP
cjfa-10416	201	24	capital	capital	NOUN
cjfa-10416	201	25	asset	asset	NOUN
cjfa-10416	201	26	pricing	pricing	NOUN
cjfa-10416	201	27	model	model	NOUN
cjfa-10416	201	28	context	context	NOUN
cjfa-10416	201	29	:	:	PUNCT
cjfa-10416	201	30	[	[	X
cjfa-10416	201	31	3	3	X
cjfa-10416	201	32	]	]	PUNCT
cjfa-10416	201	33	is	be	AUX
cjfa-10416	201	34	the	the	DET
cjfa-10416	201	35	return	return	NOUN
cjfa-10416	201	36	of	of	ADP
cjfa-10416	201	37	an	an	DET
cjfa-10416	201	38	asset	asset	NOUN
cjfa-10416	201	39	with	with	ADP
cjfa-10416	201	40	no	no	DET
cjfa-10416	201	41	risk	risk	NOUN
cjfa-10416	201	42	in	in	ADP
cjfa-10416	201	43	the	the	DET
cjfa-10416	201	44	period	period	NOUN
cjfa-10416	201	45	,	,	PUNCT
cjfa-10416	201	46	is	be	AUX
cjfa-10416	201	47	the	the	DET
cjfa-10416	201	48	return	return	NOUN
cjfa-10416	201	49	of	of	ADP
cjfa-10416	201	50	the	the	DET
cjfa-10416	201	51	market	market	NOUN
cjfa-10416	201	52	index	index	NOUN
cjfa-10416	201	53	in	in	ADP
cjfa-10416	201	54	the	the	DET
cjfa-10416	201	55	period	period	NOUN
cjfa-10416	201	56	and	and	CCONJ
cjfa-10416	201	57	is	be	AUX
cjfa-10416	201	58	the	the	DET
cjfa-10416	201	59	sensitivity	sensitivity	NOUN
cjfa-10416	201	60	of	of	ADP
cjfa-10416	201	61	the	the	DET
cjfa-10416	201	62	stock	stock	NOUN
cjfa-10416	201	63	return	return	NOUN
cjfa-10416	201	64	in	in	ADP
cjfa-10416	201	65	relation	relation	NOUN
cjfa-10416	201	66	to	to	ADP
cjfa-10416	201	67	the	the	DET
cjfa-10416	201	68	return	return	NOUN
cjfa-10416	201	69	of	of	ADP
cjfa-10416	201	70	the	the	DET
cjfa-10416	201	71	market	market	NOUN
cjfa-10416	201	72	index	index	NOUN
cjfa-10416	201	73	,	,	PUNCT
cjfa-10416	201	74	which	which	PRON
cjfa-10416	201	75	may	may	AUX
cjfa-10416	201	76	be	be	AUX
cjfa-10416	201	77	estimated	estimate	VERB
cjfa-10416	201	78	through	through	ADP
cjfa-10416	201	79	the	the	DET
cjfa-10416	201	80	implementation	implementation	NOUN
cjfa-10416	201	81	of	of	ADP
cjfa-10416	201	82	the	the	DET
cjfa-10416	201	83	ordinary	ordinary	ADJ
cjfa-10416	201	84	least	least	ADJ
cjfa-10416	201	85	squares	square	NOUN
cjfa-10416	201	86	–	–	PUNCT
cjfa-10416	201	87	ols	ol	NOUN
cjfa-10416	201	88	method	method	NOUN
cjfa-10416	201	89	.	.	PUNCT
cjfa-10416	202	1	by	by	ADP
cjfa-10416	202	2	substituting	substitute	VERB
cjfa-10416	202	3	the	the	DET
cjfa-10416	202	4	expected	expect	VERB
cjfa-10416	202	5	returns	return	NOUN
cjfa-10416	202	6	by	by	ADP
cjfa-10416	202	7	the	the	DET
cjfa-10416	202	8	observed	observe	VERB
cjfa-10416	202	9	returns	return	NOUN
cjfa-10416	202	10	in	in	ADP
cjfa-10416	202	11	the	the	DET
cjfa-10416	202	12	equation	equation	NOUN
cjfa-10416	202	13	[	[	X
cjfa-10416	202	14	3	3	NUM
cjfa-10416	202	15	]	]	PUNCT
cjfa-10416	202	16	,	,	PUNCT
cjfa-10416	202	17	it	it	PRON
cjfa-10416	202	18	results	result	VERB
cjfa-10416	202	19	:	:	PUNCT
cjfa-10416	203	1	[	[	X
cjfa-10416	203	2	4	4	X
cjfa-10416	203	3	]	]	PUNCT
cjfa-10416	203	4	where	where	SCONJ
cjfa-10416	203	5	is	be	AUX
cjfa-10416	203	6	the	the	DET
cjfa-10416	203	7	estimate	estimate	NOUN
cjfa-10416	203	8	of	of	ADP
cjfa-10416	203	9	the	the	DET
cjfa-10416	203	10	residual	residual	ADJ
cjfa-10416	203	11	term	term	NOUN
cjfa-10416	203	12	for	for	ADP
cjfa-10416	203	13	each	each	DET
cjfa-10416	203	14	stock	stock	NOUN
cjfa-10416	203	15	in	in	ADP
cjfa-10416	203	16	the	the	DET
cjfa-10416	203	17	period	period	NOUN
cjfa-10416	203	18	,	,	PUNCT
cjfa-10416	203	19	which	which	PRON
cjfa-10416	203	20	reflects	reflect	VERB
cjfa-10416	203	21	the	the	DET
cjfa-10416	203	22	abnormal	abnormal	ADJ
cjfa-10416	203	23	effect	effect	NOUN
cjfa-10416	203	24	of	of	ADP
cjfa-10416	203	25	the	the	DET
cjfa-10416	203	26	disclosure	disclosure	NOUN
cjfa-10416	203	27	of	of	ADP
cjfa-10416	203	28	the	the	DET
cjfa-10416	203	29	announcement	announcement	NOUN
cjfa-10416	203	30	on	on	ADP
cjfa-10416	203	31	the	the	DET
cjfa-10416	203	32	stock	stock	NOUN
cjfa-10416	203	33	’s	’s	PART
cjfa-10416	203	34	return	return	NOUN
cjfa-10416	203	35	.	.	PUNCT
cjfa-10416	204	1	model	model	NOUN
cjfa-10416	204	2	#	#	SYM
cjfa-10416	204	3	1	1	NUM
cjfa-10416	204	4	–	–	PUNCT
cjfa-10416	204	5	ball	ball	NOUN
cjfa-10416	204	6	&	&	CCONJ
cjfa-10416	204	7	brown	brown	PROPN
cjfa-10416	204	8	:	:	PUNCT
cjfa-10416	204	9	reformulating	reformulate	VERB
cjfa-10416	204	10	the	the	DET
cjfa-10416	204	11	equation	equation	NOUN
cjfa-10416	204	12	[	[	X
cjfa-10416	204	13	4	4	NUM
cjfa-10416	204	14	]	]	PUNCT
cjfa-10416	204	15	,	,	PUNCT
cjfa-10416	204	16	it	it	PRON
cjfa-10416	204	17	can	can	AUX
cjfa-10416	204	18	be	be	AUX
cjfa-10416	204	19	obtained	obtain	VERB
cjfa-10416	204	20	another	another	DET
cjfa-10416	204	21	equivalent	equivalent	ADJ
cjfa-10416	204	22	equation	equation	NOUN
cjfa-10416	204	23	:	:	PUNCT
cjfa-10416	205	1	[	[	X
cjfa-10416	205	2	5	5	NUM
cjfa-10416	205	3	]	]	PUNCT
cjfa-10416	205	4	considering	consider	VERB
cjfa-10416	205	5	estimated	estimate	VERB
cjfa-10416	205	6	from	from	ADP
cjfa-10416	205	7	the	the	DET
cjfa-10416	205	8	ols	ol	NOUN
cjfa-10416	205	9	method	method	NOUN
cjfa-10416	205	10	with	with	ADP
cjfa-10416	205	11	the	the	DET
cjfa-10416	205	12	regression	regression	NOUN
cjfa-10416	205	13	’s	’s	PART
cjfa-10416	205	14	independent	independent	ADJ
cjfa-10416	205	15	term	term	NOUN
cjfa-10416	205	16	,	,	PUNCT
cjfa-10416	205	17	ball	ball	NOUN
cjfa-10416	205	18	and	and	CCONJ
cjfa-10416	205	19	brown	brown	ADJ
cjfa-10416	205	20	(	(	PUNCT
cjfa-10416	205	21	1968	1968	NUM
cjfa-10416	205	22	)	)	PUNCT
cjfa-10416	205	23	deduce	deduce	VERB
cjfa-10416	205	24	the	the	DET
cjfa-10416	205	25	abnormal	abnormal	ADJ
cjfa-10416	205	26	return	return	NOUN
cjfa-10416	205	27	for	for	ADP
cjfa-10416	205	28	each	each	DET
cjfa-10416	205	29	stock	stock	NOUN
cjfa-10416	205	30	and	and	CCONJ
cjfa-10416	205	31	in	in	ADP
cjfa-10416	205	32	each	each	DET
cjfa-10416	205	33	period	period	NOUN
cjfa-10416	205	34	:	:	PUNCT
cjfa-10416	206	1	[	[	X
cjfa-10416	206	2	6	6	NUM
cjfa-10416	206	3	]	]	X
cjfa-10416	206	4	[	[	X
cjfa-10416	206	5	4	4	X
cjfa-10416	206	6	]	]	PUNCT
cjfa-10416	206	7	where	where	SCONJ
cjfa-10416	206	8	were	be	AUX
cjfa-10416	206	9	purged	purge	VERB
cjfa-10416	206	10	from	from	ADP
cjfa-10416	206	11	the	the	DET
cjfa-10416	206	12	object	object	NOUN
cjfa-10416	206	13	of	of	ADP
cjfa-10416	206	14	the	the	DET
cjfa-10416	206	15	empirical	empirical	ADJ
cjfa-10416	206	16	research	research	NOUN
cjfa-10416	206	17	,	,	PUNCT
cjfa-10416	206	18	which	which	PRON
cjfa-10416	206	19	has	have	VERB
cjfa-10416	206	20	the	the	DET
cjfa-10416	206	21	intent	intent	NOUN
cjfa-10416	206	22	to	to	PART
cjfa-10416	206	23	analyze	analyze	VERB
cjfa-10416	206	24	the	the	DET
cjfa-10416	206	25	impact	impact	NOUN
cjfa-10416	206	26	of	of	ADP
cjfa-10416	206	27	other	other	ADJ
cjfa-10416	206	28	events	event	NOUN
cjfa-10416	206	29	,	,	PUNCT
cjfa-10416	206	30	through	through	ADP
cjfa-10416	206	31	the	the	DET
cjfa-10416	206	32	correction	correction	NOUN
cjfa-10416	206	33	of	of	ADP
cjfa-10416	206	34	the	the	DET
cjfa-10416	206	35	respective	respective	ADJ
cjfa-10416	206	36	stock	stock	NOUN
cjfa-10416	206	37	prices	price	NOUN
cjfa-10416	206	38	.	.	PUNCT
cjfa-10416	207	1	models	model	NOUN
cjfa-10416	207	2	after	after	SCONJ
cjfa-10416	207	3	calculated	calculate	VERB
cjfa-10416	207	4	the	the	DET
cjfa-10416	207	5	logarithmic	logarithmic	ADJ
cjfa-10416	207	6	returns	return	NOUN
cjfa-10416	207	7	of	of	ADP
cjfa-10416	207	8	each	each	DET
cjfa-10416	207	9	company	company	NOUN
cjfa-10416	207	10	stock	stock	NOUN
cjfa-10416	207	11	price	price	NOUN
cjfa-10416	207	12	involved	involve	VERB
cjfa-10416	207	13	in	in	ADP
cjfa-10416	207	14	takeover	takeover	NOUN
cjfa-10416	207	15	bid	bid	NOUN
cjfa-10416	207	16	,	,	PUNCT
cjfa-10416	207	17	we	we	PRON
cjfa-10416	207	18	determine	determine	VERB
cjfa-10416	207	19	the	the	DET
cjfa-10416	207	20	emerging	emerge	VERB
cjfa-10416	207	21	abnormal	abnormal	ADJ
cjfa-10416	207	22	returns	return	NOUN
cjfa-10416	207	23	of	of	ADP
cjfa-10416	207	24	the	the	DET
cjfa-10416	207	25	preliminary	preliminary	ADJ
cjfa-10416	207	26	announcement	announcement	NOUN
cjfa-10416	207	27	of	of	ADP
cjfa-10416	207	28	the	the	DET
cjfa-10416	207	29	bid	bid	NOUN
cjfa-10416	207	30	.	.	PUNCT
cjfa-10416	208	1	at	at	ADP
cjfa-10416	208	2	a	a	DET
cjfa-10416	208	3	first	first	ADJ
cjfa-10416	208	4	stage	stage	NOUN
cjfa-10416	208	5	we	we	PRON
cjfa-10416	208	6	used	use	VERB
cjfa-10416	208	7	the	the	DET
cjfa-10416	208	8	model	model	NOUN
cjfa-10416	208	9	determined	determine	VERB
cjfa-10416	208	10	by	by	ADP
cjfa-10416	208	11	sharpe	sharpe	PROPN
cjfa-10416	208	12	-	-	PUNCT
cjfa-10416	208	13	lintner	lintner	PROPN
cjfa-10416	208	14	(	(	PUNCT
cjfa-10416	208	15	sharpe	sharpe	NOUN
cjfa-10416	208	16	,	,	PUNCT
cjfa-10416	208	17	1964	1964	NUM
cjfa-10416	208	18	;	;	PUNCT
cjfa-10416	208	19	lintner	lintner	NOUN
cjfa-10416	208	20	,	,	PUNCT
cjfa-10416	208	21	1965	1965	NUM
cjfa-10416	208	22	)	)	PUNCT
cjfa-10416	208	23	in	in	ADP
cjfa-10416	208	24	capital	capital	NOUN
cjfa-10416	208	25	asset	asset	NOUN
cjfa-10416	208	26	pricing	pricing	NOUN
cjfa-10416	208	27	model	model	NOUN
cjfa-10416	208	28	context	context	NOUN
cjfa-10416	208	29	:	:	PUNCT
cjfa-10416	208	30	[	[	X
cjfa-10416	208	31	3	3	X
cjfa-10416	208	32	]	]	PUNCT
cjfa-10416	208	33	is	be	AUX
cjfa-10416	208	34	the	the	DET
cjfa-10416	208	35	return	return	NOUN
cjfa-10416	208	36	of	of	ADP
cjfa-10416	208	37	an	an	DET
cjfa-10416	208	38	asset	asset	NOUN
cjfa-10416	208	39	with	with	ADP
cjfa-10416	208	40	no	no	DET
cjfa-10416	208	41	risk	risk	NOUN
cjfa-10416	208	42	in	in	ADP
cjfa-10416	208	43	the	the	DET
cjfa-10416	208	44	period	period	NOUN
cjfa-10416	208	45	,	,	PUNCT
cjfa-10416	208	46	is	be	AUX
cjfa-10416	208	47	the	the	DET
cjfa-10416	208	48	return	return	NOUN
cjfa-10416	208	49	of	of	ADP
cjfa-10416	208	50	the	the	DET
cjfa-10416	208	51	market	market	NOUN
cjfa-10416	208	52	index	index	NOUN
cjfa-10416	208	53	in	in	ADP
cjfa-10416	208	54	the	the	DET
cjfa-10416	208	55	period	period	NOUN
cjfa-10416	208	56	and	and	CCONJ
cjfa-10416	208	57	is	be	AUX
cjfa-10416	208	58	the	the	DET
cjfa-10416	208	59	sensitivity	sensitivity	NOUN
cjfa-10416	208	60	of	of	ADP
cjfa-10416	208	61	the	the	DET
cjfa-10416	208	62	stock	stock	NOUN
cjfa-10416	208	63	return	return	NOUN
cjfa-10416	208	64	in	in	ADP
cjfa-10416	208	65	relation	relation	NOUN
cjfa-10416	208	66	to	to	ADP
cjfa-10416	208	67	the	the	DET
cjfa-10416	208	68	return	return	NOUN
cjfa-10416	208	69	of	of	ADP
cjfa-10416	208	70	the	the	DET
cjfa-10416	208	71	market	market	NOUN
cjfa-10416	208	72	index	index	NOUN
cjfa-10416	208	73	,	,	PUNCT
cjfa-10416	208	74	which	which	PRON
cjfa-10416	208	75	may	may	AUX
cjfa-10416	208	76	be	be	AUX
cjfa-10416	208	77	estimated	estimate	VERB
cjfa-10416	208	78	through	through	ADP
cjfa-10416	208	79	the	the	DET
cjfa-10416	208	80	implementation	implementation	NOUN
cjfa-10416	208	81	of	of	ADP
cjfa-10416	208	82	the	the	DET
cjfa-10416	208	83	ordinary	ordinary	ADJ
cjfa-10416	208	84	least	least	ADJ
cjfa-10416	208	85	squares	square	NOUN
cjfa-10416	208	86	–	–	PUNCT
cjfa-10416	208	87	ols	ol	NOUN
cjfa-10416	208	88	method	method	NOUN
cjfa-10416	208	89	.	.	PUNCT
cjfa-10416	209	1	by	by	ADP
cjfa-10416	209	2	substituting	substitute	VERB
cjfa-10416	209	3	the	the	DET
cjfa-10416	209	4	expected	expect	VERB
cjfa-10416	209	5	returns	return	NOUN
cjfa-10416	209	6	by	by	ADP
cjfa-10416	209	7	the	the	DET
cjfa-10416	209	8	observed	observe	VERB
cjfa-10416	209	9	returns	return	NOUN
cjfa-10416	209	10	in	in	ADP
cjfa-10416	209	11	the	the	DET
cjfa-10416	209	12	equation	equation	NOUN
cjfa-10416	209	13	[	[	X
cjfa-10416	209	14	3	3	NUM
cjfa-10416	209	15	]	]	PUNCT
cjfa-10416	209	16	,	,	PUNCT
cjfa-10416	209	17	it	it	PRON
cjfa-10416	209	18	results	result	VERB
cjfa-10416	209	19	:	:	PUNCT
cjfa-10416	210	1	[	[	X
cjfa-10416	210	2	4	4	X
cjfa-10416	210	3	]	]	PUNCT
cjfa-10416	210	4	where	where	SCONJ
cjfa-10416	210	5	is	be	AUX
cjfa-10416	210	6	the	the	DET
cjfa-10416	210	7	estimate	estimate	NOUN
cjfa-10416	210	8	of	of	ADP
cjfa-10416	210	9	the	the	DET
cjfa-10416	210	10	residual	residual	ADJ
cjfa-10416	210	11	term	term	NOUN
cjfa-10416	210	12	for	for	ADP
cjfa-10416	210	13	each	each	DET
cjfa-10416	210	14	stock	stock	NOUN
cjfa-10416	210	15	in	in	ADP
cjfa-10416	210	16	the	the	DET
cjfa-10416	210	17	period	period	NOUN
cjfa-10416	210	18	,	,	PUNCT
cjfa-10416	210	19	which	which	PRON
cjfa-10416	210	20	reflects	reflect	VERB
cjfa-10416	210	21	the	the	DET
cjfa-10416	210	22	abnormal	abnormal	ADJ
cjfa-10416	210	23	effect	effect	NOUN
cjfa-10416	210	24	of	of	ADP
cjfa-10416	210	25	the	the	DET
cjfa-10416	210	26	disclosure	disclosure	NOUN
cjfa-10416	210	27	of	of	ADP
cjfa-10416	210	28	the	the	DET
cjfa-10416	210	29	announcement	announcement	NOUN
cjfa-10416	210	30	on	on	ADP
cjfa-10416	210	31	the	the	DET
cjfa-10416	210	32	stock	stock	NOUN
cjfa-10416	210	33	’s	’s	PART
cjfa-10416	210	34	return	return	NOUN
cjfa-10416	210	35	.	.	PUNCT
cjfa-10416	211	1	model	model	NOUN
cjfa-10416	211	2	#	#	SYM
cjfa-10416	211	3	1	1	NUM
cjfa-10416	211	4	–	–	PUNCT
cjfa-10416	211	5	ball	ball	NOUN
cjfa-10416	211	6	&	&	CCONJ
cjfa-10416	211	7	brown	brown	PROPN
cjfa-10416	211	8	:	:	PUNCT
cjfa-10416	211	9	reformulating	reformulate	VERB
cjfa-10416	211	10	the	the	DET
cjfa-10416	211	11	equation	equation	NOUN
cjfa-10416	211	12	[	[	X
cjfa-10416	211	13	4	4	NUM
cjfa-10416	211	14	]	]	PUNCT
cjfa-10416	211	15	,	,	PUNCT
cjfa-10416	211	16	it	it	PRON
cjfa-10416	211	17	can	can	AUX
cjfa-10416	211	18	be	be	AUX
cjfa-10416	211	19	obtained	obtain	VERB
cjfa-10416	211	20	another	another	DET
cjfa-10416	211	21	equivalent	equivalent	ADJ
cjfa-10416	211	22	equation	equation	NOUN
cjfa-10416	211	23	:	:	PUNCT
cjfa-10416	212	1	[	[	X
cjfa-10416	212	2	5	5	NUM
cjfa-10416	212	3	]	]	PUNCT
cjfa-10416	212	4	considering	consider	VERB
cjfa-10416	212	5	estimated	estimate	VERB
cjfa-10416	212	6	from	from	ADP
cjfa-10416	212	7	the	the	DET
cjfa-10416	212	8	ols	ol	NOUN
cjfa-10416	212	9	method	method	NOUN
cjfa-10416	212	10	with	with	ADP
cjfa-10416	212	11	the	the	DET
cjfa-10416	212	12	regression	regression	NOUN
cjfa-10416	212	13	’s	’s	PART
cjfa-10416	212	14	independent	independent	ADJ
cjfa-10416	212	15	term	term	NOUN
cjfa-10416	212	16	,	,	PUNCT
cjfa-10416	212	17	ball	ball	NOUN
cjfa-10416	212	18	and	and	CCONJ
cjfa-10416	212	19	brown	brown	ADJ
cjfa-10416	212	20	(	(	PUNCT
cjfa-10416	212	21	1968	1968	NUM
cjfa-10416	212	22	)	)	PUNCT
cjfa-10416	212	23	deduce	deduce	VERB
cjfa-10416	212	24	the	the	DET
cjfa-10416	212	25	abnormal	abnormal	ADJ
cjfa-10416	212	26	return	return	NOUN
cjfa-10416	212	27	for	for	ADP
cjfa-10416	212	28	each	each	DET
cjfa-10416	212	29	stock	stock	NOUN
cjfa-10416	212	30	and	and	CCONJ
cjfa-10416	212	31	in	in	ADP
cjfa-10416	212	32	each	each	DET
cjfa-10416	212	33	period	period	NOUN
cjfa-10416	212	34	:	:	PUNCT
cjfa-10416	212	35	[	[	X
cjfa-10416	212	36	6	6	NUM
cjfa-10416	212	37	]	]	PUNCT
cjfa-10416	212	38	is	be	AUX
cjfa-10416	212	39	the	the	DET
cjfa-10416	212	40	estimate	estimate	NOUN
cjfa-10416	212	41	of	of	ADP
cjfa-10416	212	42	the	the	DET
cjfa-10416	212	43	residual	residual	ADJ
cjfa-10416	212	44	term	term	NOUN
cjfa-10416	212	45	for	for	ADP
cjfa-10416	212	46	each	each	DET
cjfa-10416	212	47	stock	stock	NOUN
cjfa-10416	212	48	i	i	PRON
cjfa-10416	212	49	in	in	ADP
cjfa-10416	212	50	the	the	DET
cjfa-10416	212	51	t	t	NOUN
cjfa-10416	212	52	period	period	NOUN
cjfa-10416	212	53	,	,	PUNCT
cjfa-10416	212	54	which	which	PRON
cjfa-10416	212	55	reflects	reflect	VERB
cjfa-10416	212	56	the	the	DET
cjfa-10416	212	57	abnormal	abnormal	ADJ
cjfa-10416	212	58	effect	effect	NOUN
cjfa-10416	212	59	of	of	ADP
cjfa-10416	212	60	the	the	DET
cjfa-10416	212	61	disclosure	disclosure	NOUN
cjfa-10416	212	62	of	of	ADP
cjfa-10416	212	63	the	the	DET
cjfa-10416	212	64	announcement	announcement	NOUN
cjfa-10416	212	65	on	on	ADP
cjfa-10416	212	66	the	the	DET
cjfa-10416	212	67	stock	stock	NOUN
cjfa-10416	212	68	’s	’s	PART
cjfa-10416	212	69	return	return	NOUN
cjfa-10416	212	70	.	.	PUNCT
cjfa-10416	213	1	model	model	NOUN
cjfa-10416	213	2	#	#	SYM
cjfa-10416	213	3	1	1	NUM
cjfa-10416	213	4	–	–	PUNCT
cjfa-10416	213	5	ball	ball	NOUN
cjfa-10416	213	6	&	&	CCONJ
cjfa-10416	213	7	brown	brown	PROPN
cjfa-10416	213	8	:	:	PUNCT
cjfa-10416	213	9	reformulating	reformulate	VERB
cjfa-10416	213	10	the	the	DET
cjfa-10416	213	11	equation	equation	NOUN
cjfa-10416	213	12	[	[	X
cjfa-10416	213	13	4	4	NUM
cjfa-10416	213	14	]	]	PUNCT
cjfa-10416	213	15	,	,	PUNCT
cjfa-10416	213	16	it	it	PRON
cjfa-10416	213	17	can	can	AUX
cjfa-10416	213	18	be	be	AUX
cjfa-10416	213	19	obtained	obtain	VERB
cjfa-10416	213	20	another	another	DET
cjfa-10416	213	21	equivalent	equivalent	ADJ
cjfa-10416	213	22	equation	equation	NOUN
cjfa-10416	213	23	:	:	PUNCT
cjfa-10416	213	24	were	be	AUX
cjfa-10416	213	25	purged	purge	VERB
cjfa-10416	213	26	from	from	ADP
cjfa-10416	213	27	the	the	DET
cjfa-10416	213	28	object	object	NOUN
cjfa-10416	213	29	of	of	ADP
cjfa-10416	213	30	the	the	DET
cjfa-10416	213	31	empirical	empirical	ADJ
cjfa-10416	213	32	research	research	NOUN
cjfa-10416	213	33	,	,	PUNCT
cjfa-10416	213	34	which	which	PRON
cjfa-10416	213	35	has	have	VERB
cjfa-10416	213	36	the	the	DET
cjfa-10416	213	37	intent	intent	NOUN
cjfa-10416	213	38	to	to	PART
cjfa-10416	213	39	analyze	analyze	VERB
cjfa-10416	213	40	the	the	DET
cjfa-10416	213	41	impact	impact	NOUN
cjfa-10416	213	42	of	of	ADP
cjfa-10416	213	43	other	other	ADJ
cjfa-10416	213	44	events	event	NOUN
cjfa-10416	213	45	,	,	PUNCT
cjfa-10416	213	46	through	through	ADP
cjfa-10416	213	47	the	the	DET
cjfa-10416	213	48	correction	correction	NOUN
cjfa-10416	213	49	of	of	ADP
cjfa-10416	213	50	the	the	DET
cjfa-10416	213	51	respective	respective	ADJ
cjfa-10416	213	52	stock	stock	NOUN
cjfa-10416	213	53	prices	price	NOUN
cjfa-10416	213	54	.	.	PUNCT
cjfa-10416	214	1	models	model	NOUN
cjfa-10416	214	2	after	after	SCONJ
cjfa-10416	214	3	calculated	calculate	VERB
cjfa-10416	214	4	the	the	DET
cjfa-10416	214	5	logarithmic	logarithmic	ADJ
cjfa-10416	214	6	returns	return	NOUN
cjfa-10416	214	7	of	of	ADP
cjfa-10416	214	8	each	each	DET
cjfa-10416	214	9	company	company	NOUN
cjfa-10416	214	10	stock	stock	NOUN
cjfa-10416	214	11	price	price	NOUN
cjfa-10416	214	12	involved	involve	VERB
cjfa-10416	214	13	in	in	ADP
cjfa-10416	214	14	takeover	takeover	NOUN
cjfa-10416	214	15	bid	bid	NOUN
cjfa-10416	214	16	,	,	PUNCT
cjfa-10416	214	17	we	we	PRON
cjfa-10416	214	18	determine	determine	VERB
cjfa-10416	214	19	the	the	DET
cjfa-10416	214	20	emerging	emerge	VERB
cjfa-10416	214	21	abnormal	abnormal	ADJ
cjfa-10416	214	22	returns	return	NOUN
cjfa-10416	214	23	of	of	ADP
cjfa-10416	214	24	the	the	DET
cjfa-10416	214	25	preliminary	preliminary	ADJ
cjfa-10416	214	26	announcement	announcement	NOUN
cjfa-10416	214	27	of	of	ADP
cjfa-10416	214	28	the	the	DET
cjfa-10416	214	29	bid	bid	NOUN
cjfa-10416	214	30	.	.	PUNCT
cjfa-10416	215	1	at	at	ADP
cjfa-10416	215	2	a	a	DET
cjfa-10416	215	3	first	first	ADJ
cjfa-10416	215	4	stage	stage	NOUN
cjfa-10416	215	5	we	we	PRON
cjfa-10416	215	6	used	use	VERB
cjfa-10416	215	7	the	the	DET
cjfa-10416	215	8	model	model	NOUN
cjfa-10416	215	9	determined	determine	VERB
cjfa-10416	215	10	by	by	ADP
cjfa-10416	215	11	sharpe	sharpe	PROPN
cjfa-10416	215	12	-	-	PUNCT
cjfa-10416	215	13	lintner	lintner	PROPN
cjfa-10416	215	14	(	(	PUNCT
cjfa-10416	215	15	sharpe	sharpe	NOUN
cjfa-10416	215	16	,	,	PUNCT
cjfa-10416	215	17	1964	1964	NUM
cjfa-10416	215	18	;	;	PUNCT
cjfa-10416	215	19	lintner	lintner	NOUN
cjfa-10416	215	20	,	,	PUNCT
cjfa-10416	215	21	1965	1965	NUM
cjfa-10416	215	22	)	)	PUNCT
cjfa-10416	215	23	in	in	ADP
cjfa-10416	215	24	capital	capital	NOUN
cjfa-10416	215	25	asset	asset	NOUN
cjfa-10416	215	26	pricing	pricing	NOUN
cjfa-10416	215	27	model	model	NOUN
cjfa-10416	215	28	context	context	NOUN
cjfa-10416	215	29	:	:	PUNCT
cjfa-10416	215	30	[	[	X
cjfa-10416	215	31	3	3	X
cjfa-10416	215	32	]	]	PUNCT
cjfa-10416	215	33	is	be	AUX
cjfa-10416	215	34	the	the	DET
cjfa-10416	215	35	return	return	NOUN
cjfa-10416	215	36	of	of	ADP
cjfa-10416	215	37	an	an	DET
cjfa-10416	215	38	asset	asset	NOUN
cjfa-10416	215	39	with	with	ADP
cjfa-10416	215	40	no	no	DET
cjfa-10416	215	41	risk	risk	NOUN
cjfa-10416	215	42	in	in	ADP
cjfa-10416	215	43	the	the	DET
cjfa-10416	215	44	period	period	NOUN
cjfa-10416	215	45	,	,	PUNCT
cjfa-10416	215	46	is	be	AUX
cjfa-10416	215	47	the	the	DET
cjfa-10416	215	48	return	return	NOUN
cjfa-10416	215	49	of	of	ADP
cjfa-10416	215	50	the	the	DET
cjfa-10416	215	51	market	market	NOUN
cjfa-10416	215	52	index	index	NOUN
cjfa-10416	215	53	in	in	ADP
cjfa-10416	215	54	the	the	DET
cjfa-10416	215	55	period	period	NOUN
cjfa-10416	215	56	and	and	CCONJ
cjfa-10416	215	57	is	be	AUX
cjfa-10416	215	58	the	the	DET
cjfa-10416	215	59	sensitivity	sensitivity	NOUN
cjfa-10416	215	60	of	of	ADP
cjfa-10416	215	61	the	the	DET
cjfa-10416	215	62	stock	stock	NOUN
cjfa-10416	215	63	return	return	NOUN
cjfa-10416	215	64	in	in	ADP
cjfa-10416	215	65	relation	relation	NOUN
cjfa-10416	215	66	to	to	ADP
cjfa-10416	215	67	the	the	DET
cjfa-10416	215	68	return	return	NOUN
cjfa-10416	215	69	of	of	ADP
cjfa-10416	215	70	the	the	DET
cjfa-10416	215	71	market	market	NOUN
cjfa-10416	215	72	index	index	NOUN
cjfa-10416	215	73	,	,	PUNCT
cjfa-10416	215	74	which	which	PRON
cjfa-10416	215	75	may	may	AUX
cjfa-10416	215	76	be	be	AUX
cjfa-10416	215	77	estimated	estimate	VERB
cjfa-10416	215	78	through	through	ADP
cjfa-10416	215	79	the	the	DET
cjfa-10416	215	80	implementation	implementation	NOUN
cjfa-10416	215	81	of	of	ADP
cjfa-10416	215	82	the	the	DET
cjfa-10416	215	83	ordinary	ordinary	ADJ
cjfa-10416	215	84	least	least	ADJ
cjfa-10416	215	85	squares	square	NOUN
cjfa-10416	215	86	–	–	PUNCT
cjfa-10416	215	87	ols	ol	NOUN
cjfa-10416	215	88	method	method	NOUN
cjfa-10416	215	89	.	.	PUNCT
cjfa-10416	216	1	by	by	ADP
cjfa-10416	216	2	substituting	substitute	VERB
cjfa-10416	216	3	the	the	DET
cjfa-10416	216	4	expected	expect	VERB
cjfa-10416	216	5	returns	return	NOUN
cjfa-10416	216	6	by	by	ADP
cjfa-10416	216	7	the	the	DET
cjfa-10416	216	8	observed	observe	VERB
cjfa-10416	216	9	returns	return	NOUN
cjfa-10416	216	10	in	in	ADP
cjfa-10416	216	11	the	the	DET
cjfa-10416	216	12	equation	equation	NOUN
cjfa-10416	216	13	[	[	X
cjfa-10416	216	14	3	3	NUM
cjfa-10416	216	15	]	]	PUNCT
cjfa-10416	216	16	,	,	PUNCT
cjfa-10416	216	17	it	it	PRON
cjfa-10416	216	18	results	result	VERB
cjfa-10416	216	19	:	:	PUNCT
cjfa-10416	217	1	[	[	X
cjfa-10416	217	2	4	4	X
cjfa-10416	217	3	]	]	PUNCT
cjfa-10416	217	4	where	where	SCONJ
cjfa-10416	217	5	is	be	AUX
cjfa-10416	217	6	the	the	DET
cjfa-10416	217	7	estimate	estimate	NOUN
cjfa-10416	217	8	of	of	ADP
cjfa-10416	217	9	the	the	DET
cjfa-10416	217	10	residual	residual	ADJ
cjfa-10416	217	11	term	term	NOUN
cjfa-10416	217	12	for	for	ADP
cjfa-10416	217	13	each	each	DET
cjfa-10416	217	14	stock	stock	NOUN
cjfa-10416	217	15	in	in	ADP
cjfa-10416	217	16	the	the	DET
cjfa-10416	217	17	period	period	NOUN
cjfa-10416	217	18	,	,	PUNCT
cjfa-10416	217	19	which	which	PRON
cjfa-10416	217	20	reflects	reflect	VERB
cjfa-10416	217	21	the	the	DET
cjfa-10416	217	22	abnormal	abnormal	ADJ
cjfa-10416	217	23	effect	effect	NOUN
cjfa-10416	217	24	of	of	ADP
cjfa-10416	217	25	the	the	DET
cjfa-10416	217	26	disclosure	disclosure	NOUN
cjfa-10416	217	27	of	of	ADP
cjfa-10416	217	28	the	the	DET
cjfa-10416	217	29	announcement	announcement	NOUN
cjfa-10416	217	30	on	on	ADP
cjfa-10416	217	31	the	the	DET
cjfa-10416	217	32	stock	stock	NOUN
cjfa-10416	217	33	’s	’s	PART
cjfa-10416	217	34	return	return	NOUN
cjfa-10416	217	35	.	.	PUNCT
cjfa-10416	218	1	model	model	NOUN
cjfa-10416	218	2	#	#	SYM
cjfa-10416	218	3	1	1	NUM
cjfa-10416	218	4	–	–	PUNCT
cjfa-10416	218	5	ball	ball	NOUN
cjfa-10416	218	6	&	&	CCONJ
cjfa-10416	218	7	brown	brown	PROPN
cjfa-10416	218	8	:	:	PUNCT
cjfa-10416	218	9	reformulating	reformulate	VERB
cjfa-10416	218	10	the	the	DET
cjfa-10416	218	11	equation	equation	NOUN
cjfa-10416	218	12	[	[	X
cjfa-10416	218	13	4	4	NUM
cjfa-10416	218	14	]	]	PUNCT
cjfa-10416	218	15	,	,	PUNCT
cjfa-10416	218	16	it	it	PRON
cjfa-10416	218	17	can	can	AUX
cjfa-10416	218	18	be	be	AUX
cjfa-10416	218	19	obtained	obtain	VERB
cjfa-10416	218	20	another	another	DET
cjfa-10416	218	21	equivalent	equivalent	ADJ
cjfa-10416	218	22	equation	equation	NOUN
cjfa-10416	218	23	:	:	PUNCT
cjfa-10416	219	1	[	[	X
cjfa-10416	219	2	5	5	NUM
cjfa-10416	219	3	]	]	PUNCT
cjfa-10416	219	4	considering	consider	VERB
cjfa-10416	219	5	estimated	estimate	VERB
cjfa-10416	219	6	from	from	ADP
cjfa-10416	219	7	the	the	DET
cjfa-10416	219	8	ols	ol	NOUN
cjfa-10416	219	9	method	method	NOUN
cjfa-10416	219	10	with	with	ADP
cjfa-10416	219	11	the	the	DET
cjfa-10416	219	12	regression	regression	NOUN
cjfa-10416	219	13	’s	’s	PART
cjfa-10416	219	14	independent	independent	ADJ
cjfa-10416	219	15	term	term	NOUN
cjfa-10416	219	16	,	,	PUNCT
cjfa-10416	219	17	ball	ball	NOUN
cjfa-10416	219	18	and	and	CCONJ
cjfa-10416	219	19	brown	brown	ADJ
cjfa-10416	219	20	(	(	PUNCT
cjfa-10416	219	21	1968	1968	NUM
cjfa-10416	219	22	)	)	PUNCT
cjfa-10416	219	23	deduce	deduce	VERB
cjfa-10416	219	24	the	the	DET
cjfa-10416	219	25	abnormal	abnormal	ADJ
cjfa-10416	219	26	return	return	NOUN
cjfa-10416	219	27	for	for	ADP
cjfa-10416	219	28	each	each	DET
cjfa-10416	219	29	stock	stock	NOUN
cjfa-10416	219	30	and	and	CCONJ
cjfa-10416	219	31	in	in	ADP
cjfa-10416	219	32	each	each	DET
cjfa-10416	219	33	period	period	NOUN
cjfa-10416	219	34	:	:	PUNCT
cjfa-10416	219	35	[	[	X
cjfa-10416	219	36	6	6	NUM
cjfa-10416	219	37	]	]	X
cjfa-10416	219	38	[	[	X
cjfa-10416	219	39	5	5	NUM
cjfa-10416	219	40	]	]	PUNCT
cjfa-10416	219	41	considering	consider	VERB
cjfa-10416	219	42	were	be	AUX
cjfa-10416	219	43	purged	purge	VERB
cjfa-10416	219	44	from	from	ADP
cjfa-10416	219	45	the	the	DET
cjfa-10416	219	46	object	object	NOUN
cjfa-10416	219	47	of	of	ADP
cjfa-10416	219	48	the	the	DET
cjfa-10416	219	49	empirical	empirical	ADJ
cjfa-10416	219	50	research	research	NOUN
cjfa-10416	219	51	,	,	PUNCT
cjfa-10416	219	52	which	which	PRON
cjfa-10416	219	53	has	have	VERB
cjfa-10416	219	54	the	the	DET
cjfa-10416	219	55	intent	intent	NOUN
cjfa-10416	219	56	to	to	PART
cjfa-10416	219	57	analyze	analyze	VERB
cjfa-10416	219	58	the	the	DET
cjfa-10416	219	59	impact	impact	NOUN
cjfa-10416	219	60	of	of	ADP
cjfa-10416	219	61	other	other	ADJ
cjfa-10416	219	62	events	event	NOUN
cjfa-10416	219	63	,	,	PUNCT
cjfa-10416	219	64	through	through	ADP
cjfa-10416	219	65	the	the	DET
cjfa-10416	219	66	correction	correction	NOUN
cjfa-10416	219	67	of	of	ADP
cjfa-10416	219	68	the	the	DET
cjfa-10416	219	69	respective	respective	ADJ
cjfa-10416	219	70	stock	stock	NOUN
cjfa-10416	219	71	prices	price	NOUN
cjfa-10416	219	72	.	.	PUNCT
cjfa-10416	220	1	models	model	NOUN
cjfa-10416	220	2	after	after	SCONJ
cjfa-10416	220	3	calculated	calculate	VERB
cjfa-10416	220	4	the	the	DET
cjfa-10416	220	5	logarithmic	logarithmic	ADJ
cjfa-10416	220	6	returns	return	NOUN
cjfa-10416	220	7	of	of	ADP
cjfa-10416	220	8	each	each	DET
cjfa-10416	220	9	company	company	NOUN
cjfa-10416	220	10	stock	stock	NOUN
cjfa-10416	220	11	price	price	NOUN
cjfa-10416	220	12	involved	involve	VERB
cjfa-10416	220	13	in	in	ADP
cjfa-10416	220	14	takeover	takeover	NOUN
cjfa-10416	220	15	bid	bid	NOUN
cjfa-10416	220	16	,	,	PUNCT
cjfa-10416	220	17	we	we	PRON
cjfa-10416	220	18	determine	determine	VERB
cjfa-10416	220	19	the	the	DET
cjfa-10416	220	20	emerging	emerge	VERB
cjfa-10416	220	21	abnormal	abnormal	ADJ
cjfa-10416	220	22	returns	return	NOUN
cjfa-10416	220	23	of	of	ADP
cjfa-10416	220	24	the	the	DET
cjfa-10416	220	25	preliminary	preliminary	ADJ
cjfa-10416	220	26	announcement	announcement	NOUN
cjfa-10416	220	27	of	of	ADP
cjfa-10416	220	28	the	the	DET
cjfa-10416	220	29	bid	bid	NOUN
cjfa-10416	220	30	.	.	PUNCT
cjfa-10416	221	1	at	at	ADP
cjfa-10416	221	2	a	a	DET
cjfa-10416	221	3	first	first	ADJ
cjfa-10416	221	4	stage	stage	NOUN
cjfa-10416	221	5	we	we	PRON
cjfa-10416	221	6	used	use	VERB
cjfa-10416	221	7	the	the	DET
cjfa-10416	221	8	model	model	NOUN
cjfa-10416	221	9	determined	determine	VERB
cjfa-10416	221	10	by	by	ADP
cjfa-10416	221	11	sharpe	sharpe	PROPN
cjfa-10416	221	12	-	-	PUNCT
cjfa-10416	221	13	lintner	lintner	PROPN
cjfa-10416	221	14	(	(	PUNCT
cjfa-10416	221	15	sharpe	sharpe	NOUN
cjfa-10416	221	16	,	,	PUNCT
cjfa-10416	221	17	1964	1964	NUM
cjfa-10416	221	18	;	;	PUNCT
cjfa-10416	221	19	lintner	lintner	NOUN
cjfa-10416	221	20	,	,	PUNCT
cjfa-10416	221	21	1965	1965	NUM
cjfa-10416	221	22	)	)	PUNCT
cjfa-10416	221	23	in	in	ADP
cjfa-10416	221	24	capital	capital	NOUN
cjfa-10416	221	25	asset	asset	NOUN
cjfa-10416	221	26	pricing	pricing	NOUN
cjfa-10416	221	27	model	model	NOUN
cjfa-10416	221	28	context	context	NOUN
cjfa-10416	221	29	:	:	PUNCT
cjfa-10416	221	30	[	[	X
cjfa-10416	221	31	3	3	X
cjfa-10416	221	32	]	]	PUNCT
cjfa-10416	221	33	is	be	AUX
cjfa-10416	221	34	the	the	DET
cjfa-10416	221	35	return	return	NOUN
cjfa-10416	221	36	of	of	ADP
cjfa-10416	221	37	an	an	DET
cjfa-10416	221	38	asset	asset	NOUN
cjfa-10416	221	39	with	with	ADP
cjfa-10416	221	40	no	no	DET
cjfa-10416	221	41	risk	risk	NOUN
cjfa-10416	221	42	in	in	ADP
cjfa-10416	221	43	the	the	DET
cjfa-10416	221	44	period	period	NOUN
cjfa-10416	221	45	,	,	PUNCT
cjfa-10416	221	46	is	be	AUX
cjfa-10416	221	47	the	the	DET
cjfa-10416	221	48	return	return	NOUN
cjfa-10416	221	49	of	of	ADP
cjfa-10416	221	50	the	the	DET
cjfa-10416	221	51	market	market	NOUN
cjfa-10416	221	52	index	index	NOUN
cjfa-10416	221	53	in	in	ADP
cjfa-10416	221	54	the	the	DET
cjfa-10416	221	55	period	period	NOUN
cjfa-10416	221	56	and	and	CCONJ
cjfa-10416	221	57	is	be	AUX
cjfa-10416	221	58	the	the	DET
cjfa-10416	221	59	sensitivity	sensitivity	NOUN
cjfa-10416	221	60	of	of	ADP
cjfa-10416	221	61	the	the	DET
cjfa-10416	221	62	stock	stock	NOUN
cjfa-10416	221	63	return	return	NOUN
cjfa-10416	221	64	in	in	ADP
cjfa-10416	221	65	relation	relation	NOUN
cjfa-10416	221	66	to	to	ADP
cjfa-10416	221	67	the	the	DET
cjfa-10416	221	68	return	return	NOUN
cjfa-10416	221	69	of	of	ADP
cjfa-10416	221	70	the	the	DET
cjfa-10416	221	71	market	market	NOUN
cjfa-10416	221	72	index	index	NOUN
cjfa-10416	221	73	,	,	PUNCT
cjfa-10416	221	74	which	which	PRON
cjfa-10416	221	75	may	may	AUX
cjfa-10416	221	76	be	be	AUX
cjfa-10416	221	77	estimated	estimate	VERB
cjfa-10416	221	78	through	through	ADP
cjfa-10416	221	79	the	the	DET
cjfa-10416	221	80	implementation	implementation	NOUN
cjfa-10416	221	81	of	of	ADP
cjfa-10416	221	82	the	the	DET
cjfa-10416	221	83	ordinary	ordinary	ADJ
cjfa-10416	221	84	least	least	ADJ
cjfa-10416	221	85	squares	square	NOUN
cjfa-10416	221	86	–	–	PUNCT
cjfa-10416	221	87	ols	ol	NOUN
cjfa-10416	221	88	method	method	NOUN
cjfa-10416	221	89	.	.	PUNCT
cjfa-10416	222	1	by	by	ADP
cjfa-10416	222	2	substituting	substitute	VERB
cjfa-10416	222	3	the	the	DET
cjfa-10416	222	4	expected	expect	VERB
cjfa-10416	222	5	returns	return	NOUN
cjfa-10416	222	6	by	by	ADP
cjfa-10416	222	7	the	the	DET
cjfa-10416	222	8	observed	observe	VERB
cjfa-10416	222	9	returns	return	NOUN
cjfa-10416	222	10	in	in	ADP
cjfa-10416	222	11	the	the	DET
cjfa-10416	222	12	equation	equation	NOUN
cjfa-10416	222	13	[	[	X
cjfa-10416	222	14	3	3	NUM
cjfa-10416	222	15	]	]	PUNCT
cjfa-10416	222	16	,	,	PUNCT
cjfa-10416	222	17	it	it	PRON
cjfa-10416	222	18	results	result	VERB
cjfa-10416	222	19	:	:	PUNCT
cjfa-10416	223	1	[	[	X
cjfa-10416	223	2	4	4	X
cjfa-10416	223	3	]	]	PUNCT
cjfa-10416	223	4	where	where	SCONJ
cjfa-10416	223	5	is	be	AUX
cjfa-10416	223	6	the	the	DET
cjfa-10416	223	7	estimate	estimate	NOUN
cjfa-10416	223	8	of	of	ADP
cjfa-10416	223	9	the	the	DET
cjfa-10416	223	10	residual	residual	ADJ
cjfa-10416	223	11	term	term	NOUN
cjfa-10416	223	12	for	for	ADP
cjfa-10416	223	13	each	each	DET
cjfa-10416	223	14	stock	stock	NOUN
cjfa-10416	223	15	in	in	ADP
cjfa-10416	223	16	the	the	DET
cjfa-10416	223	17	period	period	NOUN
cjfa-10416	223	18	,	,	PUNCT
cjfa-10416	223	19	which	which	PRON
cjfa-10416	223	20	reflects	reflect	VERB
cjfa-10416	223	21	the	the	DET
cjfa-10416	223	22	abnormal	abnormal	ADJ
cjfa-10416	223	23	effect	effect	NOUN
cjfa-10416	223	24	of	of	ADP
cjfa-10416	223	25	the	the	DET
cjfa-10416	223	26	disclosure	disclosure	NOUN
cjfa-10416	223	27	of	of	ADP
cjfa-10416	223	28	the	the	DET
cjfa-10416	223	29	announcement	announcement	NOUN
cjfa-10416	223	30	on	on	ADP
cjfa-10416	223	31	the	the	DET
cjfa-10416	223	32	stock	stock	NOUN
cjfa-10416	223	33	’s	’s	PART
cjfa-10416	223	34	return	return	NOUN
cjfa-10416	223	35	.	.	PUNCT
cjfa-10416	224	1	model	model	NOUN
cjfa-10416	224	2	#	#	SYM
cjfa-10416	224	3	1	1	NUM
cjfa-10416	224	4	–	–	PUNCT
cjfa-10416	224	5	ball	ball	NOUN
cjfa-10416	224	6	&	&	CCONJ
cjfa-10416	224	7	brown	brown	PROPN
cjfa-10416	224	8	:	:	PUNCT
cjfa-10416	224	9	reformulating	reformulate	VERB
cjfa-10416	224	10	the	the	DET
cjfa-10416	224	11	equation	equation	NOUN
cjfa-10416	224	12	[	[	X
cjfa-10416	224	13	4	4	NUM
cjfa-10416	224	14	]	]	PUNCT
cjfa-10416	224	15	,	,	PUNCT
cjfa-10416	224	16	it	it	PRON
cjfa-10416	224	17	can	can	AUX
cjfa-10416	224	18	be	be	AUX
cjfa-10416	224	19	obtained	obtain	VERB
cjfa-10416	224	20	another	another	DET
cjfa-10416	224	21	equivalent	equivalent	ADJ
cjfa-10416	224	22	equation	equation	NOUN
cjfa-10416	224	23	:	:	PUNCT
cjfa-10416	225	1	[	[	X
cjfa-10416	225	2	5	5	NUM
cjfa-10416	225	3	]	]	PUNCT
cjfa-10416	225	4	considering	consider	VERB
cjfa-10416	225	5	estimated	estimate	VERB
cjfa-10416	225	6	from	from	ADP
cjfa-10416	225	7	the	the	DET
cjfa-10416	225	8	ols	ol	NOUN
cjfa-10416	225	9	method	method	NOUN
cjfa-10416	225	10	with	with	ADP
cjfa-10416	225	11	the	the	DET
cjfa-10416	225	12	regression	regression	NOUN
cjfa-10416	225	13	’s	’s	PART
cjfa-10416	225	14	independent	independent	ADJ
cjfa-10416	225	15	term	term	NOUN
cjfa-10416	225	16	,	,	PUNCT
cjfa-10416	225	17	ball	ball	NOUN
cjfa-10416	225	18	and	and	CCONJ
cjfa-10416	225	19	brown	brown	ADJ
cjfa-10416	225	20	(	(	PUNCT
cjfa-10416	225	21	1968	1968	NUM
cjfa-10416	225	22	)	)	PUNCT
cjfa-10416	225	23	deduce	deduce	VERB
cjfa-10416	225	24	the	the	DET
cjfa-10416	225	25	abnormal	abnormal	ADJ
cjfa-10416	225	26	return	return	NOUN
cjfa-10416	225	27	for	for	ADP
cjfa-10416	225	28	each	each	DET
cjfa-10416	225	29	stock	stock	NOUN
cjfa-10416	225	30	and	and	CCONJ
cjfa-10416	225	31	in	in	ADP
cjfa-10416	225	32	each	each	DET
cjfa-10416	225	33	period	period	NOUN
cjfa-10416	225	34	:	:	PUNCT
cjfa-10416	225	35	[	[	X
cjfa-10416	225	36	6	6	NUM
cjfa-10416	225	37	]	]	PUNCT
cjfa-10416	225	38	estimated	estimate	VERB
cjfa-10416	225	39	from	from	ADP
cjfa-10416	225	40	the	the	DET
cjfa-10416	225	41	ols	ol	NOUN
cjfa-10416	225	42	method	method	NOUN
cjfa-10416	225	43	with	with	ADP
cjfa-10416	225	44	the	the	DET
cjfa-10416	225	45	regression	regression	NOUN
cjfa-10416	225	46	’s	’s	PART
cjfa-10416	225	47	independent	independent	ADJ
cjfa-10416	225	48	term	term	NOUN
cjfa-10416	225	49	,	,	PUNCT
cjfa-10416	225	50	ball	ball	NOUN
cjfa-10416	225	51	and	and	CCONJ
cjfa-10416	225	52	brown	brown	ADJ
cjfa-10416	225	53	(	(	PUNCT
cjfa-10416	225	54	1968	1968	NUM
cjfa-10416	225	55	)	)	PUNCT
cjfa-10416	225	56	deduce	deduce	VERB
cjfa-10416	225	57	the	the	DET
cjfa-10416	225	58	abnormal	abnormal	ADJ
cjfa-10416	225	59	return	return	NOUN
cjfa-10416	225	60	for	for	ADP
cjfa-10416	225	61	each	each	DET
cjfa-10416	225	62	stock	stock	NOUN
cjfa-10416	225	63	and	and	CCONJ
cjfa-10416	225	64	in	in	ADP
cjfa-10416	225	65	each	each	DET
cjfa-10416	225	66	period	period	NOUN
cjfa-10416	225	67	:	:	PUNCT
cjfa-10416	225	68	were	be	AUX
cjfa-10416	225	69	purged	purge	VERB
cjfa-10416	225	70	from	from	ADP
cjfa-10416	225	71	the	the	DET
cjfa-10416	225	72	object	object	NOUN
cjfa-10416	225	73	of	of	ADP
cjfa-10416	225	74	the	the	DET
cjfa-10416	225	75	empirical	empirical	ADJ
cjfa-10416	225	76	research	research	NOUN
cjfa-10416	225	77	,	,	PUNCT
cjfa-10416	225	78	which	which	PRON
cjfa-10416	225	79	has	have	VERB
cjfa-10416	225	80	the	the	DET
cjfa-10416	225	81	intent	intent	NOUN
cjfa-10416	225	82	to	to	PART
cjfa-10416	225	83	analyze	analyze	VERB
cjfa-10416	225	84	the	the	DET
cjfa-10416	225	85	impact	impact	NOUN
cjfa-10416	225	86	of	of	ADP
cjfa-10416	225	87	other	other	ADJ
cjfa-10416	225	88	events	event	NOUN
cjfa-10416	225	89	,	,	PUNCT
cjfa-10416	225	90	through	through	ADP
cjfa-10416	225	91	the	the	DET
cjfa-10416	225	92	correction	correction	NOUN
cjfa-10416	225	93	of	of	ADP
cjfa-10416	225	94	the	the	DET
cjfa-10416	225	95	respective	respective	ADJ
cjfa-10416	225	96	stock	stock	NOUN
cjfa-10416	225	97	prices	price	NOUN
cjfa-10416	225	98	.	.	PUNCT
cjfa-10416	226	1	models	model	NOUN
cjfa-10416	226	2	after	after	SCONJ
cjfa-10416	226	3	calculated	calculate	VERB
cjfa-10416	226	4	the	the	DET
cjfa-10416	226	5	logarithmic	logarithmic	ADJ
cjfa-10416	226	6	returns	return	NOUN
cjfa-10416	226	7	of	of	ADP
cjfa-10416	226	8	each	each	DET
cjfa-10416	226	9	company	company	NOUN
cjfa-10416	226	10	stock	stock	NOUN
cjfa-10416	226	11	price	price	NOUN
cjfa-10416	226	12	involved	involve	VERB
cjfa-10416	226	13	in	in	ADP
cjfa-10416	226	14	takeover	takeover	NOUN
cjfa-10416	226	15	bid	bid	NOUN
cjfa-10416	226	16	,	,	PUNCT
cjfa-10416	226	17	we	we	PRON
cjfa-10416	226	18	determine	determine	VERB
cjfa-10416	226	19	the	the	DET
cjfa-10416	226	20	emerging	emerge	VERB
cjfa-10416	226	21	abnormal	abnormal	ADJ
cjfa-10416	226	22	returns	return	NOUN
cjfa-10416	226	23	of	of	ADP
cjfa-10416	226	24	the	the	DET
cjfa-10416	226	25	preliminary	preliminary	ADJ
cjfa-10416	226	26	announcement	announcement	NOUN
cjfa-10416	226	27	of	of	ADP
cjfa-10416	226	28	the	the	DET
cjfa-10416	226	29	bid	bid	NOUN
cjfa-10416	226	30	.	.	PUNCT
cjfa-10416	227	1	at	at	ADP
cjfa-10416	227	2	a	a	DET
cjfa-10416	227	3	first	first	ADJ
cjfa-10416	227	4	stage	stage	NOUN
cjfa-10416	227	5	we	we	PRON
cjfa-10416	227	6	used	use	VERB
cjfa-10416	227	7	the	the	DET
cjfa-10416	227	8	model	model	NOUN
cjfa-10416	227	9	determined	determine	VERB
cjfa-10416	227	10	by	by	ADP
cjfa-10416	227	11	sharpe	sharpe	PROPN
cjfa-10416	227	12	-	-	PUNCT
cjfa-10416	227	13	lintner	lintner	PROPN
cjfa-10416	227	14	(	(	PUNCT
cjfa-10416	227	15	sharpe	sharpe	NOUN
cjfa-10416	227	16	,	,	PUNCT
cjfa-10416	227	17	1964	1964	NUM
cjfa-10416	227	18	;	;	PUNCT
cjfa-10416	227	19	lintner	lintner	NOUN
cjfa-10416	227	20	,	,	PUNCT
cjfa-10416	227	21	1965	1965	NUM
cjfa-10416	227	22	)	)	PUNCT
cjfa-10416	227	23	in	in	ADP
cjfa-10416	227	24	capital	capital	NOUN
cjfa-10416	227	25	asset	asset	NOUN
cjfa-10416	227	26	pricing	pricing	NOUN
cjfa-10416	227	27	model	model	NOUN
cjfa-10416	227	28	context	context	NOUN
cjfa-10416	227	29	:	:	PUNCT
cjfa-10416	227	30	[	[	X
cjfa-10416	227	31	3	3	X
cjfa-10416	227	32	]	]	PUNCT
cjfa-10416	227	33	is	be	AUX
cjfa-10416	227	34	the	the	DET
cjfa-10416	227	35	return	return	NOUN
cjfa-10416	227	36	of	of	ADP
cjfa-10416	227	37	an	an	DET
cjfa-10416	227	38	asset	asset	NOUN
cjfa-10416	227	39	with	with	ADP
cjfa-10416	227	40	no	no	DET
cjfa-10416	227	41	risk	risk	NOUN
cjfa-10416	227	42	in	in	ADP
cjfa-10416	227	43	the	the	DET
cjfa-10416	227	44	period	period	NOUN
cjfa-10416	227	45	,	,	PUNCT
cjfa-10416	227	46	is	be	AUX
cjfa-10416	227	47	the	the	DET
cjfa-10416	227	48	return	return	NOUN
cjfa-10416	227	49	of	of	ADP
cjfa-10416	227	50	the	the	DET
cjfa-10416	227	51	market	market	NOUN
cjfa-10416	227	52	index	index	NOUN
cjfa-10416	227	53	in	in	ADP
cjfa-10416	227	54	the	the	DET
cjfa-10416	227	55	period	period	NOUN
cjfa-10416	227	56	and	and	CCONJ
cjfa-10416	227	57	is	be	AUX
cjfa-10416	227	58	the	the	DET
cjfa-10416	227	59	sensitivity	sensitivity	NOUN
cjfa-10416	227	60	of	of	ADP
cjfa-10416	227	61	the	the	DET
cjfa-10416	227	62	stock	stock	NOUN
cjfa-10416	227	63	return	return	NOUN
cjfa-10416	227	64	in	in	ADP
cjfa-10416	227	65	relation	relation	NOUN
cjfa-10416	227	66	to	to	ADP
cjfa-10416	227	67	the	the	DET
cjfa-10416	227	68	return	return	NOUN
cjfa-10416	227	69	of	of	ADP
cjfa-10416	227	70	the	the	DET
cjfa-10416	227	71	market	market	NOUN
cjfa-10416	227	72	index	index	NOUN
cjfa-10416	227	73	,	,	PUNCT
cjfa-10416	227	74	which	which	PRON
cjfa-10416	227	75	may	may	AUX
cjfa-10416	227	76	be	be	AUX
cjfa-10416	227	77	estimated	estimate	VERB
cjfa-10416	227	78	through	through	ADP
cjfa-10416	227	79	the	the	DET
cjfa-10416	227	80	implementation	implementation	NOUN
cjfa-10416	227	81	of	of	ADP
cjfa-10416	227	82	the	the	DET
cjfa-10416	227	83	ordinary	ordinary	ADJ
cjfa-10416	227	84	least	least	ADJ
cjfa-10416	227	85	squares	square	NOUN
cjfa-10416	227	86	–	–	PUNCT
cjfa-10416	227	87	ols	ol	NOUN
cjfa-10416	227	88	method	method	NOUN
cjfa-10416	227	89	.	.	PUNCT
cjfa-10416	228	1	by	by	ADP
cjfa-10416	228	2	substituting	substitute	VERB
cjfa-10416	228	3	the	the	DET
cjfa-10416	228	4	expected	expect	VERB
cjfa-10416	228	5	returns	return	NOUN
cjfa-10416	228	6	by	by	ADP
cjfa-10416	228	7	the	the	DET
cjfa-10416	228	8	observed	observe	VERB
cjfa-10416	228	9	returns	return	NOUN
cjfa-10416	228	10	in	in	ADP
cjfa-10416	228	11	the	the	DET
cjfa-10416	228	12	equation	equation	NOUN
cjfa-10416	228	13	[	[	X
cjfa-10416	228	14	3	3	NUM
cjfa-10416	228	15	]	]	PUNCT
cjfa-10416	228	16	,	,	PUNCT
cjfa-10416	228	17	it	it	PRON
cjfa-10416	228	18	results	result	VERB
cjfa-10416	228	19	:	:	PUNCT
cjfa-10416	229	1	[	[	X
cjfa-10416	229	2	4	4	X
cjfa-10416	229	3	]	]	PUNCT
cjfa-10416	229	4	where	where	SCONJ
cjfa-10416	229	5	is	be	AUX
cjfa-10416	229	6	the	the	DET
cjfa-10416	229	7	estimate	estimate	NOUN
cjfa-10416	229	8	of	of	ADP
cjfa-10416	229	9	the	the	DET
cjfa-10416	229	10	residual	residual	ADJ
cjfa-10416	229	11	term	term	NOUN
cjfa-10416	229	12	for	for	ADP
cjfa-10416	229	13	each	each	DET
cjfa-10416	229	14	stock	stock	NOUN
cjfa-10416	229	15	in	in	ADP
cjfa-10416	229	16	the	the	DET
cjfa-10416	229	17	period	period	NOUN
cjfa-10416	229	18	,	,	PUNCT
cjfa-10416	229	19	which	which	PRON
cjfa-10416	229	20	reflects	reflect	VERB
cjfa-10416	229	21	the	the	DET
cjfa-10416	229	22	abnormal	abnormal	ADJ
cjfa-10416	229	23	effect	effect	NOUN
cjfa-10416	229	24	of	of	ADP
cjfa-10416	229	25	the	the	DET
cjfa-10416	229	26	disclosure	disclosure	NOUN
cjfa-10416	229	27	of	of	ADP
cjfa-10416	229	28	the	the	DET
cjfa-10416	229	29	announcement	announcement	NOUN
cjfa-10416	229	30	on	on	ADP
cjfa-10416	229	31	the	the	DET
cjfa-10416	229	32	stock	stock	NOUN
cjfa-10416	229	33	’s	’s	PART
cjfa-10416	229	34	return	return	NOUN
cjfa-10416	229	35	.	.	PUNCT
cjfa-10416	230	1	model	model	NOUN
cjfa-10416	230	2	#	#	SYM
cjfa-10416	230	3	1	1	NUM
cjfa-10416	230	4	–	–	PUNCT
cjfa-10416	230	5	ball	ball	NOUN
cjfa-10416	230	6	&	&	CCONJ
cjfa-10416	230	7	brown	brown	PROPN
cjfa-10416	230	8	:	:	PUNCT
cjfa-10416	230	9	reformulating	reformulate	VERB
cjfa-10416	230	10	the	the	DET
cjfa-10416	230	11	equation	equation	NOUN
cjfa-10416	230	12	[	[	X
cjfa-10416	230	13	4	4	NUM
cjfa-10416	230	14	]	]	PUNCT
cjfa-10416	230	15	,	,	PUNCT
cjfa-10416	230	16	it	it	PRON
cjfa-10416	230	17	can	can	AUX
cjfa-10416	230	18	be	be	AUX
cjfa-10416	230	19	obtained	obtain	VERB
cjfa-10416	230	20	another	another	DET
cjfa-10416	230	21	equivalent	equivalent	ADJ
cjfa-10416	230	22	equation	equation	NOUN
cjfa-10416	230	23	:	:	PUNCT
cjfa-10416	231	1	[	[	X
cjfa-10416	231	2	5	5	NUM
cjfa-10416	231	3	]	]	PUNCT
cjfa-10416	231	4	considering	consider	VERB
cjfa-10416	231	5	estimated	estimate	VERB
cjfa-10416	231	6	from	from	ADP
cjfa-10416	231	7	the	the	DET
cjfa-10416	231	8	ols	ol	NOUN
cjfa-10416	231	9	method	method	NOUN
cjfa-10416	231	10	with	with	ADP
cjfa-10416	231	11	the	the	DET
cjfa-10416	231	12	regression	regression	NOUN
cjfa-10416	231	13	’s	’s	PART
cjfa-10416	231	14	independent	independent	ADJ
cjfa-10416	231	15	term	term	NOUN
cjfa-10416	231	16	,	,	PUNCT
cjfa-10416	231	17	ball	ball	NOUN
cjfa-10416	231	18	and	and	CCONJ
cjfa-10416	231	19	brown	brown	ADJ
cjfa-10416	231	20	(	(	PUNCT
cjfa-10416	231	21	1968	1968	NUM
cjfa-10416	231	22	)	)	PUNCT
cjfa-10416	231	23	deduce	deduce	VERB
cjfa-10416	231	24	the	the	DET
cjfa-10416	231	25	abnormal	abnormal	ADJ
cjfa-10416	231	26	return	return	NOUN
cjfa-10416	231	27	for	for	ADP
cjfa-10416	231	28	each	each	DET
cjfa-10416	231	29	stock	stock	NOUN
cjfa-10416	231	30	and	and	CCONJ
cjfa-10416	231	31	in	in	ADP
cjfa-10416	231	32	each	each	DET
cjfa-10416	231	33	period	period	NOUN
cjfa-10416	231	34	:	:	PUNCT
cjfa-10416	231	35	[	[	X
cjfa-10416	231	36	6	6	NUM
cjfa-10416	231	37	]	]	X
cjfa-10416	231	38	[	[	X
cjfa-10416	231	39	6	6	NUM
cjfa-10416	231	40	]	]	PUNCT
cjfa-10416	231	41	were	be	AUX
cjfa-10416	231	42	purged	purge	VERB
cjfa-10416	231	43	from	from	ADP
cjfa-10416	231	44	the	the	DET
cjfa-10416	231	45	object	object	NOUN
cjfa-10416	231	46	of	of	ADP
cjfa-10416	231	47	the	the	DET
cjfa-10416	231	48	empirical	empirical	ADJ
cjfa-10416	231	49	research	research	NOUN
cjfa-10416	231	50	,	,	PUNCT
cjfa-10416	231	51	which	which	PRON
cjfa-10416	231	52	has	have	VERB
cjfa-10416	231	53	the	the	DET
cjfa-10416	231	54	intent	intent	NOUN
cjfa-10416	231	55	to	to	PART
cjfa-10416	231	56	analyze	analyze	VERB
cjfa-10416	231	57	the	the	DET
cjfa-10416	231	58	impact	impact	NOUN
cjfa-10416	231	59	of	of	ADP
cjfa-10416	231	60	other	other	ADJ
cjfa-10416	231	61	events	event	NOUN
cjfa-10416	231	62	,	,	PUNCT
cjfa-10416	231	63	through	through	ADP
cjfa-10416	231	64	the	the	DET
cjfa-10416	231	65	correction	correction	NOUN
cjfa-10416	231	66	of	of	ADP
cjfa-10416	231	67	the	the	DET
cjfa-10416	231	68	respective	respective	ADJ
cjfa-10416	231	69	stock	stock	NOUN
cjfa-10416	231	70	prices	price	NOUN
cjfa-10416	231	71	.	.	PUNCT
cjfa-10416	232	1	models	model	NOUN
cjfa-10416	232	2	after	after	SCONJ
cjfa-10416	232	3	calculated	calculate	VERB
cjfa-10416	232	4	the	the	DET
cjfa-10416	232	5	logarithmic	logarithmic	ADJ
cjfa-10416	232	6	returns	return	NOUN
cjfa-10416	232	7	of	of	ADP
cjfa-10416	232	8	each	each	DET
cjfa-10416	232	9	company	company	NOUN
cjfa-10416	232	10	stock	stock	NOUN
cjfa-10416	232	11	price	price	NOUN
cjfa-10416	232	12	involved	involve	VERB
cjfa-10416	232	13	in	in	ADP
cjfa-10416	232	14	takeover	takeover	NOUN
cjfa-10416	232	15	bid	bid	NOUN
cjfa-10416	232	16	,	,	PUNCT
cjfa-10416	232	17	we	we	PRON
cjfa-10416	232	18	determine	determine	VERB
cjfa-10416	232	19	the	the	DET
cjfa-10416	232	20	emerging	emerge	VERB
cjfa-10416	232	21	abnormal	abnormal	ADJ
cjfa-10416	232	22	returns	return	NOUN
cjfa-10416	232	23	of	of	ADP
cjfa-10416	232	24	the	the	DET
cjfa-10416	232	25	preliminary	preliminary	ADJ
cjfa-10416	232	26	announcement	announcement	NOUN
cjfa-10416	232	27	of	of	ADP
cjfa-10416	232	28	the	the	DET
cjfa-10416	232	29	bid	bid	NOUN
cjfa-10416	232	30	.	.	PUNCT
cjfa-10416	233	1	at	at	ADP
cjfa-10416	233	2	a	a	DET
cjfa-10416	233	3	first	first	ADJ
cjfa-10416	233	4	stage	stage	NOUN
cjfa-10416	233	5	we	we	PRON
cjfa-10416	233	6	used	use	VERB
cjfa-10416	233	7	the	the	DET
cjfa-10416	233	8	model	model	NOUN
cjfa-10416	233	9	determined	determine	VERB
cjfa-10416	233	10	by	by	ADP
cjfa-10416	233	11	sharpe	sharpe	PROPN
cjfa-10416	233	12	-	-	PUNCT
cjfa-10416	233	13	lintner	lintner	PROPN
cjfa-10416	233	14	(	(	PUNCT
cjfa-10416	233	15	sharpe	sharpe	NOUN
cjfa-10416	233	16	,	,	PUNCT
cjfa-10416	233	17	1964	1964	NUM
cjfa-10416	233	18	;	;	PUNCT
cjfa-10416	233	19	lintner	lintner	NOUN
cjfa-10416	233	20	,	,	PUNCT
cjfa-10416	233	21	1965	1965	NUM
cjfa-10416	233	22	)	)	PUNCT
cjfa-10416	233	23	in	in	ADP
cjfa-10416	233	24	capital	capital	NOUN
cjfa-10416	233	25	asset	asset	NOUN
cjfa-10416	233	26	pricing	pricing	NOUN
cjfa-10416	233	27	model	model	NOUN
cjfa-10416	233	28	context	context	NOUN
cjfa-10416	233	29	:	:	PUNCT
cjfa-10416	233	30	[	[	X
cjfa-10416	233	31	3	3	X
cjfa-10416	233	32	]	]	PUNCT
cjfa-10416	233	33	is	be	AUX
cjfa-10416	233	34	the	the	DET
cjfa-10416	233	35	return	return	NOUN
cjfa-10416	233	36	of	of	ADP
cjfa-10416	233	37	an	an	DET
cjfa-10416	233	38	asset	asset	NOUN
cjfa-10416	233	39	with	with	ADP
cjfa-10416	233	40	no	no	DET
cjfa-10416	233	41	risk	risk	NOUN
cjfa-10416	233	42	in	in	ADP
cjfa-10416	233	43	the	the	DET
cjfa-10416	233	44	period	period	NOUN
cjfa-10416	233	45	,	,	PUNCT
cjfa-10416	233	46	is	be	AUX
cjfa-10416	233	47	the	the	DET
cjfa-10416	233	48	return	return	NOUN
cjfa-10416	233	49	of	of	ADP
cjfa-10416	233	50	the	the	DET
cjfa-10416	233	51	market	market	NOUN
cjfa-10416	233	52	index	index	NOUN
cjfa-10416	233	53	in	in	ADP
cjfa-10416	233	54	the	the	DET
cjfa-10416	233	55	period	period	NOUN
cjfa-10416	233	56	and	and	CCONJ
cjfa-10416	233	57	is	be	AUX
cjfa-10416	233	58	the	the	DET
cjfa-10416	233	59	sensitivity	sensitivity	NOUN
cjfa-10416	233	60	of	of	ADP
cjfa-10416	233	61	the	the	DET
cjfa-10416	233	62	stock	stock	NOUN
cjfa-10416	233	63	return	return	NOUN
cjfa-10416	233	64	in	in	ADP
cjfa-10416	233	65	relation	relation	NOUN
cjfa-10416	233	66	to	to	ADP
cjfa-10416	233	67	the	the	DET
cjfa-10416	233	68	return	return	NOUN
cjfa-10416	233	69	of	of	ADP
cjfa-10416	233	70	the	the	DET
cjfa-10416	233	71	market	market	NOUN
cjfa-10416	233	72	index	index	NOUN
cjfa-10416	233	73	,	,	PUNCT
cjfa-10416	233	74	which	which	PRON
cjfa-10416	233	75	may	may	AUX
cjfa-10416	233	76	be	be	AUX
cjfa-10416	233	77	estimated	estimate	VERB
cjfa-10416	233	78	through	through	ADP
cjfa-10416	233	79	the	the	DET
cjfa-10416	233	80	implementation	implementation	NOUN
cjfa-10416	233	81	of	of	ADP
cjfa-10416	233	82	the	the	DET
cjfa-10416	233	83	ordinary	ordinary	ADJ
cjfa-10416	233	84	least	least	ADJ
cjfa-10416	233	85	squares	square	NOUN
cjfa-10416	233	86	–	–	PUNCT
cjfa-10416	233	87	ols	ol	NOUN
cjfa-10416	233	88	method	method	NOUN
cjfa-10416	233	89	.	.	PUNCT
cjfa-10416	234	1	by	by	ADP
cjfa-10416	234	2	substituting	substitute	VERB
cjfa-10416	234	3	the	the	DET
cjfa-10416	234	4	expected	expect	VERB
cjfa-10416	234	5	returns	return	NOUN
cjfa-10416	234	6	by	by	ADP
cjfa-10416	234	7	the	the	DET
cjfa-10416	234	8	observed	observe	VERB
cjfa-10416	234	9	returns	return	NOUN
cjfa-10416	234	10	in	in	ADP
cjfa-10416	234	11	the	the	DET
cjfa-10416	234	12	equation	equation	NOUN
cjfa-10416	234	13	[	[	X
cjfa-10416	234	14	3	3	NUM
cjfa-10416	234	15	]	]	PUNCT
cjfa-10416	234	16	,	,	PUNCT
cjfa-10416	234	17	it	it	PRON
cjfa-10416	234	18	results	result	VERB
cjfa-10416	234	19	:	:	PUNCT
cjfa-10416	235	1	[	[	X
cjfa-10416	235	2	4	4	X
cjfa-10416	235	3	]	]	PUNCT
cjfa-10416	235	4	where	where	SCONJ
cjfa-10416	235	5	is	be	AUX
cjfa-10416	235	6	the	the	DET
cjfa-10416	235	7	estimate	estimate	NOUN
cjfa-10416	235	8	of	of	ADP
cjfa-10416	235	9	the	the	DET
cjfa-10416	235	10	residual	residual	ADJ
cjfa-10416	235	11	term	term	NOUN
cjfa-10416	235	12	for	for	ADP
cjfa-10416	235	13	each	each	DET
cjfa-10416	235	14	stock	stock	NOUN
cjfa-10416	235	15	in	in	ADP
cjfa-10416	235	16	the	the	DET
cjfa-10416	235	17	period	period	NOUN
cjfa-10416	235	18	,	,	PUNCT
cjfa-10416	235	19	which	which	PRON
cjfa-10416	235	20	reflects	reflect	VERB
cjfa-10416	235	21	the	the	DET
cjfa-10416	235	22	abnormal	abnormal	ADJ
cjfa-10416	235	23	effect	effect	NOUN
cjfa-10416	235	24	of	of	ADP
cjfa-10416	235	25	the	the	DET
cjfa-10416	235	26	disclosure	disclosure	NOUN
cjfa-10416	235	27	of	of	ADP
cjfa-10416	235	28	the	the	DET
cjfa-10416	235	29	announcement	announcement	NOUN
cjfa-10416	235	30	on	on	ADP
cjfa-10416	235	31	the	the	DET
cjfa-10416	235	32	stock	stock	NOUN
cjfa-10416	235	33	’s	’s	PART
cjfa-10416	235	34	return	return	NOUN
cjfa-10416	235	35	.	.	PUNCT
cjfa-10416	236	1	model	model	NOUN
cjfa-10416	236	2	#	#	SYM
cjfa-10416	236	3	1	1	NUM
cjfa-10416	236	4	–	–	PUNCT
cjfa-10416	236	5	ball	ball	NOUN
cjfa-10416	236	6	&	&	CCONJ
cjfa-10416	236	7	brown	brown	PROPN
cjfa-10416	236	8	:	:	PUNCT
cjfa-10416	236	9	reformulating	reformulate	VERB
cjfa-10416	236	10	the	the	DET
cjfa-10416	236	11	equation	equation	NOUN
cjfa-10416	236	12	[	[	X
cjfa-10416	236	13	4	4	NUM
cjfa-10416	236	14	]	]	PUNCT
cjfa-10416	236	15	,	,	PUNCT
cjfa-10416	236	16	it	it	PRON
cjfa-10416	236	17	can	can	AUX
cjfa-10416	236	18	be	be	AUX
cjfa-10416	236	19	obtained	obtain	VERB
cjfa-10416	236	20	another	another	DET
cjfa-10416	236	21	equivalent	equivalent	ADJ
cjfa-10416	236	22	equation	equation	NOUN
cjfa-10416	236	23	:	:	PUNCT
cjfa-10416	237	1	[	[	X
cjfa-10416	237	2	5	5	NUM
cjfa-10416	237	3	]	]	PUNCT
cjfa-10416	237	4	considering	consider	VERB
cjfa-10416	237	5	estimated	estimate	VERB
cjfa-10416	237	6	from	from	ADP
cjfa-10416	237	7	the	the	DET
cjfa-10416	237	8	ols	ol	NOUN
cjfa-10416	237	9	method	method	NOUN
cjfa-10416	237	10	with	with	ADP
cjfa-10416	237	11	the	the	DET
cjfa-10416	237	12	regression	regression	NOUN
cjfa-10416	237	13	’s	’s	PART
cjfa-10416	237	14	independent	independent	ADJ
cjfa-10416	237	15	term	term	NOUN
cjfa-10416	237	16	,	,	PUNCT
cjfa-10416	237	17	ball	ball	NOUN
cjfa-10416	237	18	and	and	CCONJ
cjfa-10416	237	19	brown	brown	ADJ
cjfa-10416	237	20	(	(	PUNCT
cjfa-10416	237	21	1968	1968	NUM
cjfa-10416	237	22	)	)	PUNCT
cjfa-10416	237	23	deduce	deduce	VERB
cjfa-10416	237	24	the	the	DET
cjfa-10416	237	25	abnormal	abnormal	ADJ
cjfa-10416	237	26	return	return	NOUN
cjfa-10416	237	27	for	for	ADP
cjfa-10416	237	28	each	each	DET
cjfa-10416	237	29	stock	stock	NOUN
cjfa-10416	237	30	and	and	CCONJ
cjfa-10416	237	31	in	in	ADP
cjfa-10416	237	32	each	each	DET
cjfa-10416	237	33	period	period	NOUN
cjfa-10416	237	34	:	:	PUNCT
cjfa-10416	237	35	[	[	X
cjfa-10416	237	36	6	6	NUM
cjfa-10416	237	37	]	]	X
cjfa-10416	237	38	[	[	X
cjfa-10416	237	39	7	7	X
cjfa-10416	237	40	]	]	PUNCT
cjfa-10416	237	41	finally	finally	ADV
cjfa-10416	237	42	,	,	PUNCT
cjfa-10416	237	43	the	the	DET
cjfa-10416	237	44	average	average	ADJ
cjfa-10416	237	45	abnormal	abnormal	ADJ
cjfa-10416	237	46	return	return	NOUN
cjfa-10416	237	47	(	(	PUNCT
cjfa-10416	237	48	aar	aar	NOUN
cjfa-10416	237	49	)	)	PUNCT
cjfa-10416	237	50	and	and	CCONJ
cjfa-10416	237	51	cumulative	cumulative	ADJ
cjfa-10416	237	52	average	average	ADJ
cjfa-10416	237	53	abnormal	abnormal	ADJ
cjfa-10416	237	54	return	return	NOUN
cjfa-10416	237	55	(	(	PUNCT
cjfa-10416	237	56	caar	caar	NOUN
cjfa-10416	237	57	)	)	PUNCT
cjfa-10416	237	58	are	be	AUX
cjfa-10416	237	59	determined	determine	VERB
cjfa-10416	237	60	by	by	ADP
cjfa-10416	237	61	the	the	DET
cjfa-10416	237	62	following	following	NOUN
cjfa-10416	237	63	:	:	PUNCT
cjfa-10416	238	1	[	[	X
cjfa-10416	238	2	7	7	X
cjfa-10416	238	3	]	]	PUNCT
cjfa-10416	238	4	finally	finally	ADV
cjfa-10416	238	5	,	,	PUNCT
cjfa-10416	238	6	the	the	DET
cjfa-10416	238	7	average	average	ADJ
cjfa-10416	238	8	abnormal	abnormal	ADJ
cjfa-10416	238	9	return	return	NOUN
cjfa-10416	238	10	(	(	PUNCT
cjfa-10416	238	11	aar	aar	NOUN
cjfa-10416	238	12	)	)	PUNCT
cjfa-10416	238	13	and	and	CCONJ
cjfa-10416	238	14	cumulative	cumulative	ADJ
cjfa-10416	238	15	average	average	ADJ
cjfa-10416	238	16	abnormal	abnormal	ADJ
cjfa-10416	238	17	return	return	NOUN
cjfa-10416	238	18	(	(	PUNCT
cjfa-10416	238	19	caar	caar	NOUN
cjfa-10416	238	20	)	)	PUNCT
cjfa-10416	238	21	are	be	AUX
cjfa-10416	238	22	determined	determine	VERB
cjfa-10416	238	23	by	by	ADP
cjfa-10416	238	24	the	the	DET
cjfa-10416	238	25	following	following	NOUN
cjfa-10416	238	26	:	:	PUNCT
cjfa-10416	238	27	�	�	PROPN
cjfa-10416	238	28	�	�	PROPN
cjfa-10416	238	29	�	�	PROPN
cjfa-10416	238	30	�	�	PROPN
cjfa-10416	238	31	�	�	PROPN
cjfa-10416	238	32	1	1	NUM
cjfa-10416	238	33	�	�	PROPN
cjfa-10416	238	34	�	�	PROPN
cjfa-10416	238	35	�	�	PROPN
cjfa-10416	238	36	�	�	PROPN
cjfa-10416	238	37	�	�	PROPN
cjfa-10416	238	38	�	�	PROPN
cjfa-10416	238	39	�	�	PROPN
cjfa-10416	238	40	�	�	PROPN
cjfa-10416	238	41	�	�	PROPN
cjfa-10416	238	42	�	�	PROPN
cjfa-10416	238	43	�	�	PROPN
cjfa-10416	239	1	[	[	X
cjfa-10416	239	2	8	8	NUM
cjfa-10416	239	3	]	]	PUNCT
cjfa-10416	239	4	�	�	PROPN
cjfa-10416	239	5	�	�	PROPN
cjfa-10416	239	6	�	�	PROPN
cjfa-10416	239	7	�	�	PROPN
cjfa-10416	239	8	�	�	PROPN
cjfa-10416	239	9	�	�	PROPN
cjfa-10416	239	10	�	�	PROPN
cjfa-10416	239	11	�	�	PROPN
cjfa-10416	239	12	�	�	PROPN
cjfa-10416	239	13	�	�	PROPN
cjfa-10416	239	14	�	�	PROPN
cjfa-10416	239	15	�	�	PROPN
cjfa-10416	239	16	�	�	PROPN
cjfa-10416	239	17	�	�	PROPN
cjfa-10416	239	18	�	�	PROPN
cjfa-10416	239	19	�	�	PROPN
cjfa-10416	239	20	�	�	PROPN
cjfa-10416	239	21	�	�	PROPN
cjfa-10416	239	22	�	�	PROPN
cjfa-10416	239	23	�	�	PROPN
cjfa-10416	239	24	[	[	X
cjfa-10416	239	25	9	9	NUM
cjfa-10416	239	26	]	]	PUNCT
cjfa-10416	239	27	where	where	SCONJ
cjfa-10416	239	28	�	�	PROPN
cjfa-10416	239	29	�	�	PROPN
cjfa-10416	239	30	�	�	PROPN
cjfa-10416	239	31	�	�	PROPN
cjfa-10416	239	32	represents	represent	VERB
cjfa-10416	239	33	the	the	DET
cjfa-10416	239	34	average	average	ADJ
cjfa-10416	239	35	abnormal	abnormal	ADJ
cjfa-10416	239	36	return	return	NOUN
cjfa-10416	239	37	in	in	ADP
cjfa-10416	239	38	relation	relation	NOUN
cjfa-10416	239	39	to	to	ADP
cjfa-10416	239	40	all	all	DET
cjfa-10416	239	41	stocks	stock	NOUN
cjfa-10416	239	42	in	in	ADP
cjfa-10416	239	43	�	�	PROPN
cjfa-10416	239	44	period	period	NOUN
cjfa-10416	239	45	,	,	PUNCT
cjfa-10416	239	46	�	�	PROPN
cjfa-10416	239	47	is	be	AUX
cjfa-10416	239	48	the	the	DET
cjfa-10416	239	49	number	number	NOUN
cjfa-10416	239	50	of	of	ADP
cjfa-10416	239	51	companies	company	NOUN
cjfa-10416	239	52	in	in	ADP
cjfa-10416	239	53	analysis	analysis	NOUN
cjfa-10416	239	54	,	,	PUNCT
cjfa-10416	239	55	�	�	PROPN
cjfa-10416	239	56	�	�	PROPN
cjfa-10416	239	57	is	be	AUX
cjfa-10416	239	58	the	the	DET
cjfa-10416	239	59	number	number	NOUN
cjfa-10416	239	60	of	of	ADP
cjfa-10416	239	61	weeks	week	NOUN
cjfa-10416	239	62	in	in	ADP
cjfa-10416	239	63	relation	relation	NOUN
cjfa-10416	239	64	to	to	ADP
cjfa-10416	239	65	the	the	DET
cjfa-10416	239	66	period	period	NOUN
cjfa-10416	239	67	studied	study	VERB
cjfa-10416	239	68	and	and	CCONJ
cjfa-10416	239	69	�	�	PROPN
cjfa-10416	239	70	�	�	PROPN
cjfa-10416	239	71	�	�	PROPN
cjfa-10416	239	72	�	�	PROPN
cjfa-10416	239	73	�	�	PROPN
cjfa-10416	239	74	�	�	PROPN
cjfa-10416	239	75	�	�	PROPN
cjfa-10416	239	76	�	�	PROPN
cjfa-10416	239	77	represents	represent	VERB
cjfa-10416	239	78	the	the	DET
cjfa-10416	239	79	cumulative	cumulative	ADJ
cjfa-10416	239	80	average	average	ADJ
cjfa-10416	239	81	abnormal	abnormal	ADJ
cjfa-10416	239	82	return	return	NOUN
cjfa-10416	239	83	between	between	ADP
cjfa-10416	239	84	week	week	NOUN
cjfa-10416	239	85	�	�	PROPN
cjfa-10416	239	86	�	�	PROPN
cjfa-10416	239	87	and	and	CCONJ
cjfa-10416	239	88	week	week	PROPN
cjfa-10416	239	89	�	�	PROPN
cjfa-10416	239	90	�	�	PROPN
cjfa-10416	239	91	.	.	PUNCT
cjfa-10416	239	92	model	model	PROPN
cjfa-10416	239	93	#	#	SYM
cjfa-10416	239	94	2	2	NUM
cjfa-10416	239	95	–	–	PUNCT
cjfa-10416	239	96	beaver	beaver	NOUN
cjfa-10416	239	97	:	:	PUNCT
cjfa-10416	239	98	besides	besides	SCONJ
cjfa-10416	239	99	the	the	DET
cjfa-10416	239	100	calculation	calculation	NOUN
cjfa-10416	239	101	of	of	ADP
cjfa-10416	239	102	the	the	DET
cjfa-10416	239	103	abnormal	abnormal	ADJ
cjfa-10416	239	104	return	return	NOUN
cjfa-10416	239	105	,	,	PUNCT
cjfa-10416	239	106	it	it	PRON
cjfa-10416	239	107	was	be	AUX
cjfa-10416	239	108	also	also	ADV
cjfa-10416	239	109	determined	determine	VERB
cjfa-10416	239	110	the	the	DET
cjfa-10416	239	111	price	price	NOUN
cjfa-10416	239	112	reaction	reaction	NOUN
cjfa-10416	239	113	of	of	ADP
cjfa-10416	239	114	stock	stock	NOUN
cjfa-10416	239	115	in	in	ADP
cjfa-10416	239	116	relation	relation	NOUN
cjfa-10416	239	117	to	to	ADP
cjfa-10416	239	118	relevant	relevant	ADJ
cjfa-10416	239	119	information	information	NOUN
cjfa-10416	239	120	,	,	PUNCT
cjfa-10416	239	121	as	as	SCONJ
cjfa-10416	239	122	it	it	PRON
cjfa-10416	239	123	happens	happen	VERB
cjfa-10416	239	124	with	with	ADP
cjfa-10416	239	125	the	the	DET
cjfa-10416	239	126	preliminary	preliminary	ADJ
cjfa-10416	239	127	announcement	announcement	NOUN
cjfa-10416	239	128	of	of	ADP
cjfa-10416	239	129	the	the	DET
cjfa-10416	239	130	takeover	takeover	NOUN
cjfa-10416	239	131	bid	bid	NOUN
cjfa-10416	239	132	.	.	PUNCT
cjfa-10416	240	1	beaver	beaver	PROPN
cjfa-10416	240	2	(	(	PUNCT
cjfa-10416	240	3	1968	1968	NUM
cjfa-10416	240	4	)	)	PUNCT
cjfa-10416	240	5	examines	examine	VERB
cjfa-10416	240	6	the	the	DET
cjfa-10416	240	7	estimate	estimate	NOUN
cjfa-10416	240	8	volatility	volatility	NOUN
cjfa-10416	240	9	of	of	ADP
cjfa-10416	240	10	the	the	DET
cjfa-10416	240	11	residual	residual	ADJ
cjfa-10416	240	12	term	term	NOUN
cjfa-10416	240	13	�	�	PROPN
cjfa-10416	240	14	�	�	PROPN
cjfa-10416	240	15	�	�	PROPN
cjfa-10416	240	16	�	�	PROPN
cjfa-10416	240	17	constituent	constituent	NOUN
cjfa-10416	240	18	of	of	ADP
cjfa-10416	240	19	a	a	DET
cjfa-10416	240	20	market	market	NOUN
cjfa-10416	240	21	model	model	NOUN
cjfa-10416	240	22	regression	regression	NOUN
cjfa-10416	240	23	:	:	PUNCT
cjfa-10416	240	24	�	�	PROPN
cjfa-10416	240	25	�	�	PROPN
cjfa-10416	240	26	�	�	PROPN
cjfa-10416	240	27	�	�	PROPN
cjfa-10416	240	28	�	�	PROPN
cjfa-10416	240	29	�	�	PROPN
cjfa-10416	240	30	�	�	PROPN
cjfa-10416	240	31	�	�	PROPN
cjfa-10416	240	32	�	�	PROPN
cjfa-10416	240	33	�	�	PROPN
cjfa-10416	240	34	�	�	PROPN
cjfa-10416	240	35	�	�	PROPN
cjfa-10416	240	36	�	�	PROPN
cjfa-10416	240	37	�	�	PROPN
cjfa-10416	240	38	�	�	PROPN
cjfa-10416	240	39	�	�	PROPN
cjfa-10416	240	40	�	�	PROPN
cjfa-10416	241	1	[	[	X
cjfa-10416	241	2	10	10	NUM
cjfa-10416	241	3	]	]	PUNCT
cjfa-10416	241	4	where	where	SCONJ
cjfa-10416	241	5	�	�	PROPN
cjfa-10416	241	6	represents	represent	VERB
cjfa-10416	241	7	the	the	DET
cjfa-10416	241	8	price	price	NOUN
cjfa-10416	241	9	reaction	reaction	NOUN
cjfa-10416	241	10	of	of	ADP
cjfa-10416	241	11	stock	stock	NOUN
cjfa-10416	241	12	and	and	CCONJ
cjfa-10416	241	13	�	�	PROPN
cjfa-10416	241	14	�	�	PROPN
cjfa-10416	241	15	�	�	PROPN
cjfa-10416	241	16	�	�	PROPN
cjfa-10416	241	17	�	�	PROPN
cjfa-10416	241	18	�	�	PROPN
cjfa-10416	241	19	�	�	PROPN
cjfa-10416	241	20	�	�	PROPN
cjfa-10416	241	21	�	�	PROPN
cjfa-10416	241	22	represents	represent	VERB
cjfa-10416	241	23	the	the	DET
cjfa-10416	241	24	variance	variance	NOUN
cjfa-10416	241	25	of	of	ADP
cjfa-10416	241	26	the	the	DET
cjfa-10416	241	27	residual	residual	ADJ
cjfa-10416	241	28	term	term	NOUN
cjfa-10416	241	29	in	in	ADP
cjfa-10416	241	30	the	the	DET
cjfa-10416	241	31	period	period	NOUN
cjfa-10416	241	32	furthest	furth	ADJ
cjfa-10416	241	33	to	to	ADP
cjfa-10416	241	34	the	the	DET
cjfa-10416	241	35	preliminary	preliminary	ADJ
cjfa-10416	241	36	announcement	announcement	NOUN
cjfa-10416	241	37	(	(	PUNCT
cjfa-10416	241	38	between	between	ADP
cjfa-10416	241	39	week	week	NOUN
cjfa-10416	241	40	–	–	PUNCT
cjfa-10416	241	41	18	18	NUM
cjfa-10416	241	42	and	and	CCONJ
cjfa-10416	241	43	week	week	NOUN
cjfa-10416	241	44	–	–	PUNCT
cjfa-10416	241	45	6	6	NUM
cjfa-10416	241	46	)	)	PUNCT
cjfa-10416	241	47	.	.	PUNCT
cjfa-10416	242	1	the	the	DET
cjfa-10416	242	2	usage	usage	NOUN
cjfa-10416	242	3	of	of	ADP
cjfa-10416	242	4	these	these	DET
cjfa-10416	242	5	methodologies	methodology	NOUN
cjfa-10416	242	6	assume	assume	VERB
cjfa-10416	242	7	the	the	DET
cjfa-10416	242	8	assumption	assumption	NOUN
cjfa-10416	242	9	of	of	ADP
cjfa-10416	242	10	the	the	DET
cjfa-10416	242	11	prerequisites	prerequisite	NOUN
cjfa-10416	242	12	of	of	ADP
cjfa-10416	242	13	the	the	DET
cjfa-10416	242	14	financial	financial	ADJ
cjfa-10416	242	15	assets	asset	NOUN
cjfa-10416	242	16	valuation	valuation	NOUN
cjfa-10416	242	17	models	model	NOUN
cjfa-10416	242	18	,	,	PUNCT
cjfa-10416	242	19	such	such	ADJ
cjfa-10416	242	20	as	as	ADP
cjfa-10416	242	21	the	the	DET
cjfa-10416	242	22	capital	capital	NOUN
cjfa-10416	242	23	asset	asset	NOUN
cjfa-10416	242	24	pricing	pricing	NOUN
cjfa-10416	242	25	model	model	NOUN
cjfa-10416	242	26	(	(	PUNCT
cjfa-10416	242	27	capm	capm	PROPN
cjfa-10416	242	28	)	)	PUNCT
cjfa-10416	242	29	,	,	PUNCT
cjfa-10416	242	30	namely	namely	ADV
cjfa-10416	242	31	the	the	DET
cjfa-10416	242	32	random	random	ADJ
cjfa-10416	242	33	walk	walk	NOUN
cjfa-10416	242	34	hypothesis	hypothesis	NOUN
cjfa-10416	242	35	with	with	ADP
cjfa-10416	242	36	i.i.d	i.i.d	PROPN
cjfa-10416	242	37	.	.	PUNCT
cjfa-10416	243	1	increments	increment	NOUN
cjfa-10416	243	2	of	of	ADP
cjfa-10416	243	3	the	the	DET
cjfa-10416	243	4	stock	stock	NOUN
cjfa-10416	243	5	returns	return	NOUN
cjfa-10416	243	6	,	,	PUNCT
cjfa-10416	243	7	which	which	PRON
cjfa-10416	243	8	is	be	AUX
cjfa-10416	243	9	the	the	DET
cjfa-10416	243	10	basis	basis	NOUN
cjfa-10416	243	11	of	of	ADP
cjfa-10416	243	12	the	the	DET
cjfa-10416	243	13	efficient	efficient	ADJ
cjfa-10416	243	14	market	market	NOUN
cjfa-10416	243	15	hypothesis	hypothesis	NOUN
cjfa-10416	243	16	(	(	PUNCT
cjfa-10416	243	17	emh	emh	PROPN
cjfa-10416	243	18	)	)	PUNCT
cjfa-10416	243	19	,	,	PUNCT
cjfa-10416	243	20	in	in	ADP
cjfa-10416	243	21	its	its	PRON
cjfa-10416	243	22	weak	weak	ADJ
cjfa-10416	243	23	form	form	NOUN
cjfa-10416	243	24	.	.	PUNCT
cjfa-10416	244	1	regarding	regard	VERB
cjfa-10416	244	2	the	the	DET
cjfa-10416	244	3	advantages	advantage	NOUN
cjfa-10416	244	4	of	of	ADP
cjfa-10416	244	5	the	the	DET
cjfa-10416	244	6	methodologies	methodology	NOUN
cjfa-10416	244	7	studied	study	VERB
cjfa-10416	244	8	,	,	PUNCT
cjfa-10416	244	9	it	it	PRON
cjfa-10416	244	10	’s	’s	AUX
cjfa-10416	244	11	emphasized	emphasize	VERB
cjfa-10416	244	12	the	the	DET
cjfa-10416	244	13	possibility	possibility	NOUN
cjfa-10416	244	14	to	to	PART
cjfa-10416	244	15	analyze	analyze	VERB
cjfa-10416	244	16	the	the	DET
cjfa-10416	244	17	phenomenon	phenomenon	NOUN
cjfa-10416	244	18	of	of	ADP
cjfa-10416	244	19	the	the	DET
cjfa-10416	244	20	impact	impact	NOUN
cjfa-10416	244	21	of	of	ADP
cjfa-10416	244	22	takeover	takeover	NOUN
cjfa-10416	244	23	bids	bid	NOUN
cjfa-10416	244	24	on	on	ADP
cjfa-10416	244	25	the	the	DET
cjfa-10416	244	26	abnormal	abnormal	ADJ
cjfa-10416	244	27	returns	return	NOUN
cjfa-10416	244	28	of	of	ADP
cjfa-10416	244	29	the	the	DET
cjfa-10416	244	30	involved	involved	ADJ
cjfa-10416	244	31	[	[	X
cjfa-10416	244	32	8	8	NUM
cjfa-10416	244	33	]	]	X
cjfa-10416	244	34	the	the	DET
cjfa-10416	244	35	impact	impact	NOUN
cjfa-10416	244	36	of	of	ADP
cjfa-10416	244	37	the	the	DET
cjfa-10416	244	38	preliminary	preliminary	ADJ
cjfa-10416	244	39	announcement	announcement	NOUN
cjfa-10416	244	40	…	…	PUNCT
cjfa-10416	244	41	51	51	NUM
cjfa-10416	245	1	[	[	X
cjfa-10416	245	2	7	7	NUM
cjfa-10416	245	3	]	]	PUNCT
cjfa-10416	245	4	finally	finally	ADV
cjfa-10416	245	5	,	,	PUNCT
cjfa-10416	245	6	the	the	DET
cjfa-10416	245	7	average	average	ADJ
cjfa-10416	245	8	abnormal	abnormal	ADJ
cjfa-10416	245	9	return	return	NOUN
cjfa-10416	245	10	(	(	PUNCT
cjfa-10416	245	11	aar	aar	NOUN
cjfa-10416	245	12	)	)	PUNCT
cjfa-10416	245	13	and	and	CCONJ
cjfa-10416	245	14	cumulative	cumulative	ADJ
cjfa-10416	245	15	average	average	ADJ
cjfa-10416	245	16	abnormal	abnormal	ADJ
cjfa-10416	245	17	return	return	NOUN
cjfa-10416	245	18	(	(	PUNCT
cjfa-10416	245	19	caar	caar	NOUN
cjfa-10416	245	20	)	)	PUNCT
cjfa-10416	245	21	are	be	AUX
cjfa-10416	245	22	determined	determine	VERB
cjfa-10416	245	23	by	by	ADP
cjfa-10416	245	24	the	the	DET
cjfa-10416	245	25	following	following	NOUN
cjfa-10416	245	26	:	:	PUNCT
cjfa-10416	245	27	�	�	PROPN
cjfa-10416	245	28	�	�	PROPN
cjfa-10416	245	29	�	�	PROPN
cjfa-10416	245	30	�	�	PROPN
cjfa-10416	245	31	�	�	PROPN
cjfa-10416	245	32	1	1	NUM
cjfa-10416	245	33	�	�	PROPN
cjfa-10416	245	34	�	�	PROPN
cjfa-10416	245	35	�	�	PROPN
cjfa-10416	245	36	�	�	PROPN
cjfa-10416	245	37	�	�	PROPN
cjfa-10416	245	38	�	�	PROPN
cjfa-10416	245	39	�	�	PROPN
cjfa-10416	245	40	�	�	PROPN
cjfa-10416	245	41	�	�	PROPN
cjfa-10416	245	42	�	�	PROPN
cjfa-10416	245	43	�	�	PROPN
cjfa-10416	246	1	[	[	X
cjfa-10416	246	2	8	8	NUM
cjfa-10416	246	3	]	]	PUNCT
cjfa-10416	246	4	�	�	PROPN
cjfa-10416	246	5	�	�	PROPN
cjfa-10416	246	6	�	�	PROPN
cjfa-10416	246	7	�	�	PROPN
cjfa-10416	246	8	�	�	PROPN
cjfa-10416	246	9	�	�	PROPN
cjfa-10416	246	10	�	�	PROPN
cjfa-10416	246	11	�	�	PROPN
cjfa-10416	246	12	�	�	PROPN
cjfa-10416	246	13	�	�	PROPN
cjfa-10416	246	14	�	�	PROPN
cjfa-10416	246	15	�	�	PROPN
cjfa-10416	246	16	�	�	PROPN
cjfa-10416	246	17	�	�	PROPN
cjfa-10416	246	18	�	�	PROPN
cjfa-10416	246	19	�	�	PROPN
cjfa-10416	246	20	�	�	PROPN
cjfa-10416	246	21	�	�	PROPN
cjfa-10416	246	22	�	�	PROPN
cjfa-10416	246	23	�	�	PROPN
cjfa-10416	246	24	[	[	X
cjfa-10416	246	25	9	9	NUM
cjfa-10416	246	26	]	]	PUNCT
cjfa-10416	246	27	where	where	SCONJ
cjfa-10416	246	28	�	�	PROPN
cjfa-10416	246	29	�	�	PROPN
cjfa-10416	246	30	�	�	PROPN
cjfa-10416	246	31	�	�	PROPN
cjfa-10416	246	32	represents	represent	VERB
cjfa-10416	246	33	the	the	DET
cjfa-10416	246	34	average	average	ADJ
cjfa-10416	246	35	abnormal	abnormal	ADJ
cjfa-10416	246	36	return	return	NOUN
cjfa-10416	246	37	in	in	ADP
cjfa-10416	246	38	relation	relation	NOUN
cjfa-10416	246	39	to	to	ADP
cjfa-10416	246	40	all	all	DET
cjfa-10416	246	41	stocks	stock	NOUN
cjfa-10416	246	42	in	in	ADP
cjfa-10416	246	43	�	�	PROPN
cjfa-10416	246	44	period	period	NOUN
cjfa-10416	246	45	,	,	PUNCT
cjfa-10416	246	46	�	�	PROPN
cjfa-10416	246	47	is	be	AUX
cjfa-10416	246	48	the	the	DET
cjfa-10416	246	49	number	number	NOUN
cjfa-10416	246	50	of	of	ADP
cjfa-10416	246	51	companies	company	NOUN
cjfa-10416	246	52	in	in	ADP
cjfa-10416	246	53	analysis	analysis	NOUN
cjfa-10416	246	54	,	,	PUNCT
cjfa-10416	246	55	�	�	PROPN
cjfa-10416	246	56	�	�	PROPN
cjfa-10416	246	57	is	be	AUX
cjfa-10416	246	58	the	the	DET
cjfa-10416	246	59	number	number	NOUN
cjfa-10416	246	60	of	of	ADP
cjfa-10416	246	61	weeks	week	NOUN
cjfa-10416	246	62	in	in	ADP
cjfa-10416	246	63	relation	relation	NOUN
cjfa-10416	246	64	to	to	ADP
cjfa-10416	246	65	the	the	DET
cjfa-10416	246	66	period	period	NOUN
cjfa-10416	246	67	studied	study	VERB
cjfa-10416	246	68	and	and	CCONJ
cjfa-10416	246	69	�	�	PROPN
cjfa-10416	246	70	�	�	PROPN
cjfa-10416	246	71	�	�	PROPN
cjfa-10416	246	72	�	�	PROPN
cjfa-10416	246	73	�	�	PROPN
cjfa-10416	246	74	�	�	PROPN
cjfa-10416	246	75	�	�	PROPN
cjfa-10416	246	76	�	�	PROPN
cjfa-10416	246	77	represents	represent	VERB
cjfa-10416	246	78	the	the	DET
cjfa-10416	246	79	cumulative	cumulative	ADJ
cjfa-10416	246	80	average	average	ADJ
cjfa-10416	246	81	abnormal	abnormal	ADJ
cjfa-10416	246	82	return	return	NOUN
cjfa-10416	246	83	between	between	ADP
cjfa-10416	246	84	week	week	NOUN
cjfa-10416	246	85	�	�	PROPN
cjfa-10416	246	86	�	�	PROPN
cjfa-10416	246	87	and	and	CCONJ
cjfa-10416	246	88	week	week	PROPN
cjfa-10416	246	89	�	�	PROPN
cjfa-10416	246	90	�	�	PROPN
cjfa-10416	246	91	.	.	PUNCT
cjfa-10416	246	92	model	model	PROPN
cjfa-10416	246	93	#	#	SYM
cjfa-10416	246	94	2	2	NUM
cjfa-10416	246	95	–	–	PUNCT
cjfa-10416	246	96	beaver	beaver	NOUN
cjfa-10416	246	97	:	:	PUNCT
cjfa-10416	246	98	besides	besides	SCONJ
cjfa-10416	246	99	the	the	DET
cjfa-10416	246	100	calculation	calculation	NOUN
cjfa-10416	246	101	of	of	ADP
cjfa-10416	246	102	the	the	DET
cjfa-10416	246	103	abnormal	abnormal	ADJ
cjfa-10416	246	104	return	return	NOUN
cjfa-10416	246	105	,	,	PUNCT
cjfa-10416	246	106	it	it	PRON
cjfa-10416	246	107	was	be	AUX
cjfa-10416	246	108	also	also	ADV
cjfa-10416	246	109	determined	determine	VERB
cjfa-10416	246	110	the	the	DET
cjfa-10416	246	111	price	price	NOUN
cjfa-10416	246	112	reaction	reaction	NOUN
cjfa-10416	246	113	of	of	ADP
cjfa-10416	246	114	stock	stock	NOUN
cjfa-10416	246	115	in	in	ADP
cjfa-10416	246	116	relation	relation	NOUN
cjfa-10416	246	117	to	to	ADP
cjfa-10416	246	118	relevant	relevant	ADJ
cjfa-10416	246	119	information	information	NOUN
cjfa-10416	246	120	,	,	PUNCT
cjfa-10416	246	121	as	as	SCONJ
cjfa-10416	246	122	it	it	PRON
cjfa-10416	246	123	happens	happen	VERB
cjfa-10416	246	124	with	with	ADP
cjfa-10416	246	125	the	the	DET
cjfa-10416	246	126	preliminary	preliminary	ADJ
cjfa-10416	246	127	announcement	announcement	NOUN
cjfa-10416	246	128	of	of	ADP
cjfa-10416	246	129	the	the	DET
cjfa-10416	246	130	takeover	takeover	NOUN
cjfa-10416	246	131	bid	bid	NOUN
cjfa-10416	246	132	.	.	PUNCT
cjfa-10416	247	1	beaver	beaver	PROPN
cjfa-10416	247	2	(	(	PUNCT
cjfa-10416	247	3	1968	1968	NUM
cjfa-10416	247	4	)	)	PUNCT
cjfa-10416	247	5	examines	examine	VERB
cjfa-10416	247	6	the	the	DET
cjfa-10416	247	7	estimate	estimate	NOUN
cjfa-10416	247	8	volatility	volatility	NOUN
cjfa-10416	247	9	of	of	ADP
cjfa-10416	247	10	the	the	DET
cjfa-10416	247	11	residual	residual	ADJ
cjfa-10416	247	12	term	term	NOUN
cjfa-10416	247	13	�	�	PROPN
cjfa-10416	247	14	�	�	PROPN
cjfa-10416	247	15	�	�	PROPN
cjfa-10416	247	16	�	�	PROPN
cjfa-10416	247	17	constituent	constituent	NOUN
cjfa-10416	247	18	of	of	ADP
cjfa-10416	247	19	a	a	DET
cjfa-10416	247	20	market	market	NOUN
cjfa-10416	247	21	model	model	NOUN
cjfa-10416	247	22	regression	regression	NOUN
cjfa-10416	247	23	:	:	PUNCT
cjfa-10416	247	24	�	�	PROPN
cjfa-10416	247	25	�	�	PROPN
cjfa-10416	247	26	�	�	PROPN
cjfa-10416	247	27	�	�	PROPN
cjfa-10416	247	28	�	�	PROPN
cjfa-10416	247	29	�	�	PROPN
cjfa-10416	247	30	�	�	PROPN
cjfa-10416	247	31	�	�	PROPN
cjfa-10416	247	32	�	�	PROPN
cjfa-10416	247	33	�	�	PROPN
cjfa-10416	247	34	�	�	PROPN
cjfa-10416	247	35	�	�	PROPN
cjfa-10416	247	36	�	�	PROPN
cjfa-10416	247	37	�	�	PROPN
cjfa-10416	247	38	�	�	PROPN
cjfa-10416	247	39	�	�	PROPN
cjfa-10416	247	40	�	�	PROPN
cjfa-10416	248	1	[	[	X
cjfa-10416	248	2	10	10	NUM
cjfa-10416	248	3	]	]	PUNCT
cjfa-10416	248	4	where	where	SCONJ
cjfa-10416	248	5	�	�	PROPN
cjfa-10416	248	6	represents	represent	VERB
cjfa-10416	248	7	the	the	DET
cjfa-10416	248	8	price	price	NOUN
cjfa-10416	248	9	reaction	reaction	NOUN
cjfa-10416	248	10	of	of	ADP
cjfa-10416	248	11	stock	stock	NOUN
cjfa-10416	248	12	and	and	CCONJ
cjfa-10416	248	13	�	�	PROPN
cjfa-10416	248	14	�	�	PROPN
cjfa-10416	248	15	�	�	PROPN
cjfa-10416	248	16	�	�	PROPN
cjfa-10416	248	17	�	�	PROPN
cjfa-10416	248	18	�	�	PROPN
cjfa-10416	248	19	�	�	PROPN
cjfa-10416	248	20	�	�	PROPN
cjfa-10416	248	21	�	�	PROPN
cjfa-10416	248	22	represents	represent	VERB
cjfa-10416	248	23	the	the	DET
cjfa-10416	248	24	variance	variance	NOUN
cjfa-10416	248	25	of	of	ADP
cjfa-10416	248	26	the	the	DET
cjfa-10416	248	27	residual	residual	ADJ
cjfa-10416	248	28	term	term	NOUN
cjfa-10416	248	29	in	in	ADP
cjfa-10416	248	30	the	the	DET
cjfa-10416	248	31	period	period	NOUN
cjfa-10416	248	32	furthest	furth	ADJ
cjfa-10416	248	33	to	to	ADP
cjfa-10416	248	34	the	the	DET
cjfa-10416	248	35	preliminary	preliminary	ADJ
cjfa-10416	248	36	announcement	announcement	NOUN
cjfa-10416	248	37	(	(	PUNCT
cjfa-10416	248	38	between	between	ADP
cjfa-10416	248	39	week	week	NOUN
cjfa-10416	248	40	–	–	PUNCT
cjfa-10416	248	41	18	18	NUM
cjfa-10416	248	42	and	and	CCONJ
cjfa-10416	248	43	week	week	NOUN
cjfa-10416	248	44	–	–	PUNCT
cjfa-10416	248	45	6	6	NUM
cjfa-10416	248	46	)	)	PUNCT
cjfa-10416	248	47	.	.	PUNCT
cjfa-10416	249	1	the	the	DET
cjfa-10416	249	2	usage	usage	NOUN
cjfa-10416	249	3	of	of	ADP
cjfa-10416	249	4	these	these	DET
cjfa-10416	249	5	methodologies	methodology	NOUN
cjfa-10416	249	6	assume	assume	VERB
cjfa-10416	249	7	the	the	DET
cjfa-10416	249	8	assumption	assumption	NOUN
cjfa-10416	249	9	of	of	ADP
cjfa-10416	249	10	the	the	DET
cjfa-10416	249	11	prerequisites	prerequisite	NOUN
cjfa-10416	249	12	of	of	ADP
cjfa-10416	249	13	the	the	DET
cjfa-10416	249	14	financial	financial	ADJ
cjfa-10416	249	15	assets	asset	NOUN
cjfa-10416	249	16	valuation	valuation	NOUN
cjfa-10416	249	17	models	model	NOUN
cjfa-10416	249	18	,	,	PUNCT
cjfa-10416	249	19	such	such	ADJ
cjfa-10416	249	20	as	as	ADP
cjfa-10416	249	21	the	the	DET
cjfa-10416	249	22	capital	capital	NOUN
cjfa-10416	249	23	asset	asset	NOUN
cjfa-10416	249	24	pricing	pricing	NOUN
cjfa-10416	249	25	model	model	NOUN
cjfa-10416	249	26	(	(	PUNCT
cjfa-10416	249	27	capm	capm	PROPN
cjfa-10416	249	28	)	)	PUNCT
cjfa-10416	249	29	,	,	PUNCT
cjfa-10416	249	30	namely	namely	ADV
cjfa-10416	249	31	the	the	DET
cjfa-10416	249	32	random	random	ADJ
cjfa-10416	249	33	walk	walk	NOUN
cjfa-10416	249	34	hypothesis	hypothesis	NOUN
cjfa-10416	249	35	with	with	ADP
cjfa-10416	249	36	i.i.d	i.i.d	PROPN
cjfa-10416	249	37	.	.	PUNCT
cjfa-10416	250	1	increments	increment	NOUN
cjfa-10416	250	2	of	of	ADP
cjfa-10416	250	3	the	the	DET
cjfa-10416	250	4	stock	stock	NOUN
cjfa-10416	250	5	returns	return	NOUN
cjfa-10416	250	6	,	,	PUNCT
cjfa-10416	250	7	which	which	PRON
cjfa-10416	250	8	is	be	AUX
cjfa-10416	250	9	the	the	DET
cjfa-10416	250	10	basis	basis	NOUN
cjfa-10416	250	11	of	of	ADP
cjfa-10416	250	12	the	the	DET
cjfa-10416	250	13	efficient	efficient	ADJ
cjfa-10416	250	14	market	market	NOUN
cjfa-10416	250	15	hypothesis	hypothesis	NOUN
cjfa-10416	250	16	(	(	PUNCT
cjfa-10416	250	17	emh	emh	PROPN
cjfa-10416	250	18	)	)	PUNCT
cjfa-10416	250	19	,	,	PUNCT
cjfa-10416	250	20	in	in	ADP
cjfa-10416	250	21	its	its	PRON
cjfa-10416	250	22	weak	weak	ADJ
cjfa-10416	250	23	form	form	NOUN
cjfa-10416	250	24	.	.	PUNCT
cjfa-10416	251	1	regarding	regard	VERB
cjfa-10416	251	2	the	the	DET
cjfa-10416	251	3	advantages	advantage	NOUN
cjfa-10416	251	4	of	of	ADP
cjfa-10416	251	5	the	the	DET
cjfa-10416	251	6	methodologies	methodology	NOUN
cjfa-10416	251	7	studied	study	VERB
cjfa-10416	251	8	,	,	PUNCT
cjfa-10416	251	9	it	it	PRON
cjfa-10416	251	10	’s	’s	AUX
cjfa-10416	251	11	emphasized	emphasize	VERB
cjfa-10416	251	12	the	the	DET
cjfa-10416	251	13	possibility	possibility	NOUN
cjfa-10416	251	14	to	to	PART
cjfa-10416	251	15	analyze	analyze	VERB
cjfa-10416	251	16	the	the	DET
cjfa-10416	251	17	phenomenon	phenomenon	NOUN
cjfa-10416	251	18	of	of	ADP
cjfa-10416	251	19	the	the	DET
cjfa-10416	251	20	impact	impact	NOUN
cjfa-10416	251	21	of	of	ADP
cjfa-10416	251	22	takeover	takeover	NOUN
cjfa-10416	251	23	bids	bid	NOUN
cjfa-10416	251	24	on	on	ADP
cjfa-10416	251	25	the	the	DET
cjfa-10416	251	26	abnormal	abnormal	ADJ
cjfa-10416	251	27	returns	return	NOUN
cjfa-10416	251	28	of	of	ADP
cjfa-10416	251	29	the	the	DET
cjfa-10416	251	30	involved	involved	ADJ
cjfa-10416	251	31	[	[	X
cjfa-10416	251	32	9	9	NUM
cjfa-10416	251	33	]	]	PUNCT
cjfa-10416	251	34	where	where	SCONJ
cjfa-10416	251	35	aart	aart	PROPN
cjfa-10416	251	36	represents	represent	VERB
cjfa-10416	251	37	the	the	DET
cjfa-10416	251	38	average	average	ADJ
cjfa-10416	251	39	abnormal	abnormal	ADJ
cjfa-10416	251	40	return	return	NOUN
cjfa-10416	251	41	in	in	ADP
cjfa-10416	251	42	relation	relation	NOUN
cjfa-10416	251	43	to	to	ADP
cjfa-10416	251	44	all	all	DET
cjfa-10416	251	45	stocks	stock	NOUN
cjfa-10416	251	46	in	in	ADP
cjfa-10416	251	47	t	t	PROPN
cjfa-10416	251	48	period	period	NOUN
cjfa-10416	251	49	,	,	PUNCT
cjfa-10416	251	50	n	n	X
cjfa-10416	251	51	is	be	AUX
cjfa-10416	251	52	the	the	DET
cjfa-10416	251	53	number	number	NOUN
cjfa-10416	251	54	of	of	ADP
cjfa-10416	251	55	companies	company	NOUN
cjfa-10416	251	56	in	in	ADP
cjfa-10416	251	57	analysis	analysis	NOUN
cjfa-10416	251	58	,	,	PUNCT
cjfa-10416	251	59	nt	not	PART
cjfa-10416	251	60	is	be	AUX
cjfa-10416	251	61	the	the	DET
cjfa-10416	251	62	number	number	NOUN
cjfa-10416	251	63	of	of	ADP
cjfa-10416	251	64	weeks	week	NOUN
cjfa-10416	251	65	in	in	ADP
cjfa-10416	251	66	relation	relation	NOUN
cjfa-10416	251	67	to	to	ADP
cjfa-10416	251	68	the	the	DET
cjfa-10416	251	69	period	period	NOUN
cjfa-10416	251	70	studied	study	VERB
cjfa-10416	251	71	and	and	CCONJ
cjfa-10416	251	72	[	[	X
cjfa-10416	251	73	7	7	X
cjfa-10416	251	74	]	]	PUNCT
cjfa-10416	251	75	finally	finally	ADV
cjfa-10416	251	76	,	,	PUNCT
cjfa-10416	251	77	the	the	DET
cjfa-10416	251	78	average	average	ADJ
cjfa-10416	251	79	abnormal	abnormal	ADJ
cjfa-10416	251	80	return	return	NOUN
cjfa-10416	251	81	(	(	PUNCT
cjfa-10416	251	82	aar	aar	NOUN
cjfa-10416	251	83	)	)	PUNCT
cjfa-10416	251	84	and	and	CCONJ
cjfa-10416	251	85	cumulative	cumulative	ADJ
cjfa-10416	251	86	average	average	ADJ
cjfa-10416	251	87	abnormal	abnormal	ADJ
cjfa-10416	251	88	return	return	NOUN
cjfa-10416	251	89	(	(	PUNCT
cjfa-10416	251	90	caar	caar	NOUN
cjfa-10416	251	91	)	)	PUNCT
cjfa-10416	251	92	are	be	AUX
cjfa-10416	251	93	determined	determine	VERB
cjfa-10416	251	94	by	by	ADP
cjfa-10416	251	95	the	the	DET
cjfa-10416	251	96	following	following	NOUN
cjfa-10416	251	97	:	:	PUNCT
cjfa-10416	251	98	�	�	PROPN
cjfa-10416	251	99	�	�	PROPN
cjfa-10416	251	100	�	�	PROPN
cjfa-10416	251	101	�	�	PROPN
cjfa-10416	251	102	�	�	PROPN
cjfa-10416	251	103	1	1	NUM
cjfa-10416	251	104	�	�	PROPN
cjfa-10416	251	105	�	�	PROPN
cjfa-10416	251	106	�	�	PROPN
cjfa-10416	251	107	�	�	PROPN
cjfa-10416	251	108	�	�	PROPN
cjfa-10416	251	109	�	�	PROPN
cjfa-10416	251	110	�	�	PROPN
cjfa-10416	251	111	�	�	PROPN
cjfa-10416	251	112	�	�	PROPN
cjfa-10416	251	113	�	�	PROPN
cjfa-10416	251	114	�	�	PROPN
cjfa-10416	252	1	[	[	X
cjfa-10416	252	2	8	8	NUM
cjfa-10416	252	3	]	]	PUNCT
cjfa-10416	252	4	�	�	PROPN
cjfa-10416	252	5	�	�	PROPN
cjfa-10416	252	6	�	�	PROPN
cjfa-10416	252	7	�	�	PROPN
cjfa-10416	252	8	�	�	PROPN
cjfa-10416	252	9	�	�	PROPN
cjfa-10416	252	10	�	�	PROPN
cjfa-10416	252	11	�	�	PROPN
cjfa-10416	252	12	�	�	PROPN
cjfa-10416	252	13	�	�	PROPN
cjfa-10416	252	14	�	�	PROPN
cjfa-10416	252	15	�	�	PROPN
cjfa-10416	252	16	�	�	PROPN
cjfa-10416	252	17	�	�	PROPN
cjfa-10416	252	18	�	�	PROPN
cjfa-10416	252	19	�	�	PROPN
cjfa-10416	252	20	�	�	PROPN
cjfa-10416	252	21	�	�	PROPN
cjfa-10416	252	22	�	�	PROPN
cjfa-10416	252	23	�	�	PROPN
cjfa-10416	252	24	[	[	X
cjfa-10416	252	25	9	9	NUM
cjfa-10416	252	26	]	]	PUNCT
cjfa-10416	252	27	where	where	SCONJ
cjfa-10416	252	28	�	�	PROPN
cjfa-10416	252	29	�	�	PROPN
cjfa-10416	252	30	�	�	PROPN
cjfa-10416	252	31	�	�	PROPN
cjfa-10416	252	32	represents	represent	VERB
cjfa-10416	252	33	the	the	DET
cjfa-10416	252	34	average	average	ADJ
cjfa-10416	252	35	abnormal	abnormal	ADJ
cjfa-10416	252	36	return	return	NOUN
cjfa-10416	252	37	in	in	ADP
cjfa-10416	252	38	relation	relation	NOUN
cjfa-10416	252	39	to	to	ADP
cjfa-10416	252	40	all	all	DET
cjfa-10416	252	41	stocks	stock	NOUN
cjfa-10416	252	42	in	in	ADP
cjfa-10416	252	43	�	�	PROPN
cjfa-10416	252	44	period	period	NOUN
cjfa-10416	252	45	,	,	PUNCT
cjfa-10416	252	46	�	�	PROPN
cjfa-10416	252	47	is	be	AUX
cjfa-10416	252	48	the	the	DET
cjfa-10416	252	49	number	number	NOUN
cjfa-10416	252	50	of	of	ADP
cjfa-10416	252	51	companies	company	NOUN
cjfa-10416	252	52	in	in	ADP
cjfa-10416	252	53	analysis	analysis	NOUN
cjfa-10416	252	54	,	,	PUNCT
cjfa-10416	252	55	�	�	PROPN
cjfa-10416	252	56	�	�	PROPN
cjfa-10416	252	57	is	be	AUX
cjfa-10416	252	58	the	the	DET
cjfa-10416	252	59	number	number	NOUN
cjfa-10416	252	60	of	of	ADP
cjfa-10416	252	61	weeks	week	NOUN
cjfa-10416	252	62	in	in	ADP
cjfa-10416	252	63	relation	relation	NOUN
cjfa-10416	252	64	to	to	ADP
cjfa-10416	252	65	the	the	DET
cjfa-10416	252	66	period	period	NOUN
cjfa-10416	252	67	studied	study	VERB
cjfa-10416	252	68	and	and	CCONJ
cjfa-10416	252	69	�	�	PROPN
cjfa-10416	252	70	�	�	PROPN
cjfa-10416	252	71	�	�	PROPN
cjfa-10416	252	72	�	�	PROPN
cjfa-10416	252	73	�	�	PROPN
cjfa-10416	252	74	�	�	PROPN
cjfa-10416	252	75	�	�	PROPN
cjfa-10416	252	76	�	�	PROPN
cjfa-10416	252	77	represents	represent	VERB
cjfa-10416	252	78	the	the	DET
cjfa-10416	252	79	cumulative	cumulative	ADJ
cjfa-10416	252	80	average	average	ADJ
cjfa-10416	252	81	abnormal	abnormal	ADJ
cjfa-10416	252	82	return	return	NOUN
cjfa-10416	252	83	between	between	ADP
cjfa-10416	252	84	week	week	NOUN
cjfa-10416	252	85	�	�	PROPN
cjfa-10416	252	86	�	�	PROPN
cjfa-10416	252	87	and	and	CCONJ
cjfa-10416	252	88	week	week	PROPN
cjfa-10416	252	89	�	�	PROPN
cjfa-10416	252	90	�	�	PROPN
cjfa-10416	252	91	.	.	PUNCT
cjfa-10416	252	92	model	model	PROPN
cjfa-10416	252	93	#	#	SYM
cjfa-10416	252	94	2	2	NUM
cjfa-10416	252	95	–	–	PUNCT
cjfa-10416	252	96	beaver	beaver	NOUN
cjfa-10416	252	97	:	:	PUNCT
cjfa-10416	252	98	besides	besides	SCONJ
cjfa-10416	252	99	the	the	DET
cjfa-10416	252	100	calculation	calculation	NOUN
cjfa-10416	252	101	of	of	ADP
cjfa-10416	252	102	the	the	DET
cjfa-10416	252	103	abnormal	abnormal	ADJ
cjfa-10416	252	104	return	return	NOUN
cjfa-10416	252	105	,	,	PUNCT
cjfa-10416	252	106	it	it	PRON
cjfa-10416	252	107	was	be	AUX
cjfa-10416	252	108	also	also	ADV
cjfa-10416	252	109	determined	determine	VERB
cjfa-10416	252	110	the	the	DET
cjfa-10416	252	111	price	price	NOUN
cjfa-10416	252	112	reaction	reaction	NOUN
cjfa-10416	252	113	of	of	ADP
cjfa-10416	252	114	stock	stock	NOUN
cjfa-10416	252	115	in	in	ADP
cjfa-10416	252	116	relation	relation	NOUN
cjfa-10416	252	117	to	to	ADP
cjfa-10416	252	118	relevant	relevant	ADJ
cjfa-10416	252	119	information	information	NOUN
cjfa-10416	252	120	,	,	PUNCT
cjfa-10416	252	121	as	as	SCONJ
cjfa-10416	252	122	it	it	PRON
cjfa-10416	252	123	happens	happen	VERB
cjfa-10416	252	124	with	with	ADP
cjfa-10416	252	125	the	the	DET
cjfa-10416	252	126	preliminary	preliminary	ADJ
cjfa-10416	252	127	announcement	announcement	NOUN
cjfa-10416	252	128	of	of	ADP
cjfa-10416	252	129	the	the	DET
cjfa-10416	252	130	takeover	takeover	NOUN
cjfa-10416	252	131	bid	bid	NOUN
cjfa-10416	252	132	.	.	PUNCT
cjfa-10416	253	1	beaver	beaver	PROPN
cjfa-10416	253	2	(	(	PUNCT
cjfa-10416	253	3	1968	1968	NUM
cjfa-10416	253	4	)	)	PUNCT
cjfa-10416	253	5	examines	examine	VERB
cjfa-10416	253	6	the	the	DET
cjfa-10416	253	7	estimate	estimate	NOUN
cjfa-10416	253	8	volatility	volatility	NOUN
cjfa-10416	253	9	of	of	ADP
cjfa-10416	253	10	the	the	DET
cjfa-10416	253	11	residual	residual	ADJ
cjfa-10416	253	12	term	term	NOUN
cjfa-10416	253	13	�	�	PROPN
cjfa-10416	253	14	�	�	PROPN
cjfa-10416	253	15	�	�	PROPN
cjfa-10416	253	16	�	�	PROPN
cjfa-10416	253	17	constituent	constituent	NOUN
cjfa-10416	253	18	of	of	ADP
cjfa-10416	253	19	a	a	DET
cjfa-10416	253	20	market	market	NOUN
cjfa-10416	253	21	model	model	NOUN
cjfa-10416	253	22	regression	regression	NOUN
cjfa-10416	253	23	:	:	PUNCT
cjfa-10416	253	24	�	�	PROPN
cjfa-10416	253	25	�	�	PROPN
cjfa-10416	253	26	�	�	PROPN
cjfa-10416	253	27	�	�	PROPN
cjfa-10416	253	28	�	�	PROPN
cjfa-10416	253	29	�	�	PROPN
cjfa-10416	253	30	�	�	PROPN
cjfa-10416	253	31	�	�	PROPN
cjfa-10416	253	32	�	�	PROPN
cjfa-10416	253	33	�	�	PROPN
cjfa-10416	253	34	�	�	PROPN
cjfa-10416	253	35	�	�	PROPN
cjfa-10416	253	36	�	�	PROPN
cjfa-10416	253	37	�	�	PROPN
cjfa-10416	253	38	�	�	PROPN
cjfa-10416	253	39	�	�	PROPN
cjfa-10416	253	40	�	�	PROPN
cjfa-10416	254	1	[	[	X
cjfa-10416	254	2	10	10	NUM
cjfa-10416	254	3	]	]	PUNCT
cjfa-10416	254	4	where	where	SCONJ
cjfa-10416	254	5	�	�	PROPN
cjfa-10416	254	6	represents	represent	VERB
cjfa-10416	254	7	the	the	DET
cjfa-10416	254	8	price	price	NOUN
cjfa-10416	254	9	reaction	reaction	NOUN
cjfa-10416	254	10	of	of	ADP
cjfa-10416	254	11	stock	stock	NOUN
cjfa-10416	254	12	and	and	CCONJ
cjfa-10416	254	13	�	�	PROPN
cjfa-10416	254	14	�	�	PROPN
cjfa-10416	254	15	�	�	PROPN
cjfa-10416	254	16	�	�	PROPN
cjfa-10416	254	17	�	�	PROPN
cjfa-10416	254	18	�	�	PROPN
cjfa-10416	254	19	�	�	PROPN
cjfa-10416	254	20	�	�	PROPN
cjfa-10416	254	21	�	�	PROPN
cjfa-10416	254	22	represents	represent	VERB
cjfa-10416	254	23	the	the	DET
cjfa-10416	254	24	variance	variance	NOUN
cjfa-10416	254	25	of	of	ADP
cjfa-10416	254	26	the	the	DET
cjfa-10416	254	27	residual	residual	ADJ
cjfa-10416	254	28	term	term	NOUN
cjfa-10416	254	29	in	in	ADP
cjfa-10416	254	30	the	the	DET
cjfa-10416	254	31	period	period	NOUN
cjfa-10416	254	32	furthest	furth	ADJ
cjfa-10416	254	33	to	to	ADP
cjfa-10416	254	34	the	the	DET
cjfa-10416	254	35	preliminary	preliminary	ADJ
cjfa-10416	254	36	announcement	announcement	NOUN
cjfa-10416	254	37	(	(	PUNCT
cjfa-10416	254	38	between	between	ADP
cjfa-10416	254	39	week	week	NOUN
cjfa-10416	254	40	–	–	PUNCT
cjfa-10416	254	41	18	18	NUM
cjfa-10416	254	42	and	and	CCONJ
cjfa-10416	254	43	week	week	NOUN
cjfa-10416	254	44	–	–	PUNCT
cjfa-10416	254	45	6	6	NUM
cjfa-10416	254	46	)	)	PUNCT
cjfa-10416	254	47	.	.	PUNCT
cjfa-10416	255	1	the	the	DET
cjfa-10416	255	2	usage	usage	NOUN
cjfa-10416	255	3	of	of	ADP
cjfa-10416	255	4	these	these	DET
cjfa-10416	255	5	methodologies	methodology	NOUN
cjfa-10416	255	6	assume	assume	VERB
cjfa-10416	255	7	the	the	DET
cjfa-10416	255	8	assumption	assumption	NOUN
cjfa-10416	255	9	of	of	ADP
cjfa-10416	255	10	the	the	DET
cjfa-10416	255	11	prerequisites	prerequisite	NOUN
cjfa-10416	255	12	of	of	ADP
cjfa-10416	255	13	the	the	DET
cjfa-10416	255	14	financial	financial	ADJ
cjfa-10416	255	15	assets	asset	NOUN
cjfa-10416	255	16	valuation	valuation	NOUN
cjfa-10416	255	17	models	model	NOUN
cjfa-10416	255	18	,	,	PUNCT
cjfa-10416	255	19	such	such	ADJ
cjfa-10416	255	20	as	as	ADP
cjfa-10416	255	21	the	the	DET
cjfa-10416	255	22	capital	capital	NOUN
cjfa-10416	255	23	asset	asset	NOUN
cjfa-10416	255	24	pricing	pricing	NOUN
cjfa-10416	255	25	model	model	NOUN
cjfa-10416	255	26	(	(	PUNCT
cjfa-10416	255	27	capm	capm	PROPN
cjfa-10416	255	28	)	)	PUNCT
cjfa-10416	255	29	,	,	PUNCT
cjfa-10416	255	30	namely	namely	ADV
cjfa-10416	255	31	the	the	DET
cjfa-10416	255	32	random	random	ADJ
cjfa-10416	255	33	walk	walk	NOUN
cjfa-10416	255	34	hypothesis	hypothesis	NOUN
cjfa-10416	255	35	with	with	ADP
cjfa-10416	255	36	i.i.d	i.i.d	PROPN
cjfa-10416	255	37	.	.	PUNCT
cjfa-10416	256	1	increments	increment	NOUN
cjfa-10416	256	2	of	of	ADP
cjfa-10416	256	3	the	the	DET
cjfa-10416	256	4	stock	stock	NOUN
cjfa-10416	256	5	returns	return	NOUN
cjfa-10416	256	6	,	,	PUNCT
cjfa-10416	256	7	which	which	PRON
cjfa-10416	256	8	is	be	AUX
cjfa-10416	256	9	the	the	DET
cjfa-10416	256	10	basis	basis	NOUN
cjfa-10416	256	11	of	of	ADP
cjfa-10416	256	12	the	the	DET
cjfa-10416	256	13	efficient	efficient	ADJ
cjfa-10416	256	14	market	market	NOUN
cjfa-10416	256	15	hypothesis	hypothesis	NOUN
cjfa-10416	256	16	(	(	PUNCT
cjfa-10416	256	17	emh	emh	PROPN
cjfa-10416	256	18	)	)	PUNCT
cjfa-10416	256	19	,	,	PUNCT
cjfa-10416	256	20	in	in	ADP
cjfa-10416	256	21	its	its	PRON
cjfa-10416	256	22	weak	weak	ADJ
cjfa-10416	256	23	form	form	NOUN
cjfa-10416	256	24	.	.	PUNCT
cjfa-10416	257	1	regarding	regard	VERB
cjfa-10416	257	2	the	the	DET
cjfa-10416	257	3	advantages	advantage	NOUN
cjfa-10416	257	4	of	of	ADP
cjfa-10416	257	5	the	the	DET
cjfa-10416	257	6	methodologies	methodology	NOUN
cjfa-10416	257	7	studied	study	VERB
cjfa-10416	257	8	,	,	PUNCT
cjfa-10416	257	9	it	it	PRON
cjfa-10416	257	10	’s	’s	AUX
cjfa-10416	257	11	emphasized	emphasize	VERB
cjfa-10416	257	12	the	the	DET
cjfa-10416	257	13	possibility	possibility	NOUN
cjfa-10416	257	14	to	to	PART
cjfa-10416	257	15	analyze	analyze	VERB
cjfa-10416	257	16	the	the	DET
cjfa-10416	257	17	phenomenon	phenomenon	NOUN
cjfa-10416	257	18	of	of	ADP
cjfa-10416	257	19	the	the	DET
cjfa-10416	257	20	impact	impact	NOUN
cjfa-10416	257	21	of	of	ADP
cjfa-10416	257	22	takeover	takeover	NOUN
cjfa-10416	257	23	bids	bid	NOUN
cjfa-10416	257	24	on	on	ADP
cjfa-10416	257	25	the	the	DET
cjfa-10416	257	26	abnormal	abnormal	ADJ
cjfa-10416	257	27	returns	return	NOUN
cjfa-10416	257	28	of	of	ADP
cjfa-10416	257	29	the	the	DET
cjfa-10416	257	30	involved	involved	ADJ
cjfa-10416	257	31	represents	represent	VERB
cjfa-10416	257	32	the	the	DET
cjfa-10416	257	33	cumulative	cumulative	ADJ
cjfa-10416	257	34	average	average	ADJ
cjfa-10416	257	35	abnormal	abnormal	ADJ
cjfa-10416	257	36	return	return	NOUN
cjfa-10416	257	37	between	between	ADP
cjfa-10416	257	38	week	week	NOUN
cjfa-10416	257	39	t1	t1	NOUN
cjfa-10416	257	40	and	and	CCONJ
cjfa-10416	257	41	week	week	NOUN
cjfa-10416	257	42	t2	t2	PROPN
cjfa-10416	257	43	.	.	PUNCT
cjfa-10416	258	1	model	model	NOUN
cjfa-10416	258	2	#	#	SYM
cjfa-10416	258	3	2	2	NUM
cjfa-10416	258	4	–	–	PUNCT
cjfa-10416	258	5	beaver	beaver	NOUN
cjfa-10416	258	6	:	:	PUNCT
cjfa-10416	258	7	besides	besides	SCONJ
cjfa-10416	258	8	the	the	DET
cjfa-10416	258	9	calculation	calculation	NOUN
cjfa-10416	258	10	of	of	ADP
cjfa-10416	258	11	the	the	DET
cjfa-10416	258	12	abnormal	abnormal	ADJ
cjfa-10416	258	13	return	return	NOUN
cjfa-10416	258	14	,	,	PUNCT
cjfa-10416	258	15	it	it	PRON
cjfa-10416	258	16	was	be	AUX
cjfa-10416	258	17	also	also	ADV
cjfa-10416	258	18	determined	determine	VERB
cjfa-10416	258	19	the	the	DET
cjfa-10416	258	20	price	price	NOUN
cjfa-10416	258	21	reaction	reaction	NOUN
cjfa-10416	258	22	of	of	ADP
cjfa-10416	258	23	stock	stock	NOUN
cjfa-10416	258	24	in	in	ADP
cjfa-10416	258	25	relation	relation	NOUN
cjfa-10416	258	26	to	to	ADP
cjfa-10416	258	27	relevant	relevant	ADJ
cjfa-10416	258	28	information	information	NOUN
cjfa-10416	258	29	,	,	PUNCT
cjfa-10416	258	30	as	as	SCONJ
cjfa-10416	258	31	it	it	PRON
cjfa-10416	258	32	happens	happen	VERB
cjfa-10416	258	33	with	with	ADP
cjfa-10416	258	34	the	the	DET
cjfa-10416	258	35	preliminary	preliminary	ADJ
cjfa-10416	258	36	announcement	announcement	NOUN
cjfa-10416	258	37	of	of	ADP
cjfa-10416	258	38	the	the	DET
cjfa-10416	258	39	takeover	takeover	NOUN
cjfa-10416	258	40	bid	bid	NOUN
cjfa-10416	258	41	.	.	PUNCT
cjfa-10416	259	1	beaver	beaver	PROPN
cjfa-10416	259	2	(	(	PUNCT
cjfa-10416	259	3	1968	1968	NUM
cjfa-10416	259	4	)	)	PUNCT
cjfa-10416	259	5	examines	examine	VERB
cjfa-10416	259	6	the	the	DET
cjfa-10416	259	7	estimate	estimate	NOUN
cjfa-10416	259	8	volatility	volatility	NOUN
cjfa-10416	259	9	of	of	ADP
cjfa-10416	259	10	the	the	DET
cjfa-10416	259	11	residual	residual	ADJ
cjfa-10416	259	12	term	term	NOUN
cjfa-10416	260	1	[	[	X
cjfa-10416	260	2	7	7	X
cjfa-10416	260	3	]	]	PUNCT
cjfa-10416	260	4	finally	finally	ADV
cjfa-10416	260	5	,	,	PUNCT
cjfa-10416	260	6	the	the	DET
cjfa-10416	260	7	average	average	ADJ
cjfa-10416	260	8	abnormal	abnormal	ADJ
cjfa-10416	260	9	return	return	NOUN
cjfa-10416	260	10	(	(	PUNCT
cjfa-10416	260	11	aar	aar	NOUN
cjfa-10416	260	12	)	)	PUNCT
cjfa-10416	260	13	and	and	CCONJ
cjfa-10416	260	14	cumulative	cumulative	ADJ
cjfa-10416	260	15	average	average	ADJ
cjfa-10416	260	16	abnormal	abnormal	ADJ
cjfa-10416	260	17	return	return	NOUN
cjfa-10416	260	18	(	(	PUNCT
cjfa-10416	260	19	caar	caar	NOUN
cjfa-10416	260	20	)	)	PUNCT
cjfa-10416	260	21	are	be	AUX
cjfa-10416	260	22	determined	determine	VERB
cjfa-10416	260	23	by	by	ADP
cjfa-10416	260	24	the	the	DET
cjfa-10416	260	25	following	following	NOUN
cjfa-10416	260	26	:	:	PUNCT
cjfa-10416	260	27	�	�	PROPN
cjfa-10416	260	28	�	�	PROPN
cjfa-10416	260	29	�	�	PROPN
cjfa-10416	260	30	�	�	PROPN
cjfa-10416	260	31	�	�	PROPN
cjfa-10416	260	32	1	1	NUM
cjfa-10416	260	33	�	�	PROPN
cjfa-10416	260	34	�	�	PROPN
cjfa-10416	260	35	�	�	PROPN
cjfa-10416	260	36	�	�	PROPN
cjfa-10416	260	37	�	�	PROPN
cjfa-10416	260	38	�	�	PROPN
cjfa-10416	260	39	�	�	PROPN
cjfa-10416	260	40	�	�	PROPN
cjfa-10416	260	41	�	�	PROPN
cjfa-10416	260	42	�	�	PROPN
cjfa-10416	260	43	�	�	PROPN
cjfa-10416	261	1	[	[	X
cjfa-10416	261	2	8	8	NUM
cjfa-10416	261	3	]	]	PUNCT
cjfa-10416	261	4	�	�	PROPN
cjfa-10416	261	5	�	�	PROPN
cjfa-10416	261	6	�	�	PROPN
cjfa-10416	261	7	�	�	PROPN
cjfa-10416	261	8	�	�	PROPN
cjfa-10416	261	9	�	�	PROPN
cjfa-10416	261	10	�	�	PROPN
cjfa-10416	261	11	�	�	PROPN
cjfa-10416	261	12	�	�	PROPN
cjfa-10416	261	13	�	�	PROPN
cjfa-10416	261	14	�	�	PROPN
cjfa-10416	261	15	�	�	PROPN
cjfa-10416	261	16	�	�	PROPN
cjfa-10416	261	17	�	�	PROPN
cjfa-10416	261	18	�	�	PROPN
cjfa-10416	261	19	�	�	PROPN
cjfa-10416	261	20	�	�	PROPN
cjfa-10416	261	21	�	�	PROPN
cjfa-10416	261	22	�	�	PROPN
cjfa-10416	261	23	�	�	PROPN
cjfa-10416	261	24	[	[	X
cjfa-10416	261	25	9	9	NUM
cjfa-10416	261	26	]	]	PUNCT
cjfa-10416	261	27	where	where	SCONJ
cjfa-10416	261	28	�	�	PROPN
cjfa-10416	261	29	�	�	PROPN
cjfa-10416	261	30	�	�	PROPN
cjfa-10416	261	31	�	�	PROPN
cjfa-10416	261	32	represents	represent	VERB
cjfa-10416	261	33	the	the	DET
cjfa-10416	261	34	average	average	ADJ
cjfa-10416	261	35	abnormal	abnormal	ADJ
cjfa-10416	261	36	return	return	NOUN
cjfa-10416	261	37	in	in	ADP
cjfa-10416	261	38	relation	relation	NOUN
cjfa-10416	261	39	to	to	ADP
cjfa-10416	261	40	all	all	DET
cjfa-10416	261	41	stocks	stock	NOUN
cjfa-10416	261	42	in	in	ADP
cjfa-10416	261	43	�	�	PROPN
cjfa-10416	261	44	period	period	NOUN
cjfa-10416	261	45	,	,	PUNCT
cjfa-10416	261	46	�	�	PROPN
cjfa-10416	261	47	is	be	AUX
cjfa-10416	261	48	the	the	DET
cjfa-10416	261	49	number	number	NOUN
cjfa-10416	261	50	of	of	ADP
cjfa-10416	261	51	companies	company	NOUN
cjfa-10416	261	52	in	in	ADP
cjfa-10416	261	53	analysis	analysis	NOUN
cjfa-10416	261	54	,	,	PUNCT
cjfa-10416	261	55	�	�	PROPN
cjfa-10416	261	56	�	�	PROPN
cjfa-10416	261	57	is	be	AUX
cjfa-10416	261	58	the	the	DET
cjfa-10416	261	59	number	number	NOUN
cjfa-10416	261	60	of	of	ADP
cjfa-10416	261	61	weeks	week	NOUN
cjfa-10416	261	62	in	in	ADP
cjfa-10416	261	63	relation	relation	NOUN
cjfa-10416	261	64	to	to	ADP
cjfa-10416	261	65	the	the	DET
cjfa-10416	261	66	period	period	NOUN
cjfa-10416	261	67	studied	study	VERB
cjfa-10416	261	68	and	and	CCONJ
cjfa-10416	261	69	�	�	PROPN
cjfa-10416	261	70	�	�	PROPN
cjfa-10416	261	71	�	�	PROPN
cjfa-10416	261	72	�	�	PROPN
cjfa-10416	261	73	�	�	PROPN
cjfa-10416	261	74	�	�	PROPN
cjfa-10416	261	75	�	�	PROPN
cjfa-10416	261	76	�	�	PROPN
cjfa-10416	261	77	represents	represent	VERB
cjfa-10416	261	78	the	the	DET
cjfa-10416	261	79	cumulative	cumulative	ADJ
cjfa-10416	261	80	average	average	ADJ
cjfa-10416	261	81	abnormal	abnormal	ADJ
cjfa-10416	261	82	return	return	NOUN
cjfa-10416	261	83	between	between	ADP
cjfa-10416	261	84	week	week	NOUN
cjfa-10416	261	85	�	�	PROPN
cjfa-10416	261	86	�	�	PROPN
cjfa-10416	261	87	and	and	CCONJ
cjfa-10416	261	88	week	week	PROPN
cjfa-10416	261	89	�	�	PROPN
cjfa-10416	261	90	�	�	PROPN
cjfa-10416	261	91	.	.	PUNCT
cjfa-10416	261	92	model	model	PROPN
cjfa-10416	261	93	#	#	SYM
cjfa-10416	261	94	2	2	NUM
cjfa-10416	261	95	–	–	PUNCT
cjfa-10416	261	96	beaver	beaver	NOUN
cjfa-10416	261	97	:	:	PUNCT
cjfa-10416	261	98	besides	besides	SCONJ
cjfa-10416	261	99	the	the	DET
cjfa-10416	261	100	calculation	calculation	NOUN
cjfa-10416	261	101	of	of	ADP
cjfa-10416	261	102	the	the	DET
cjfa-10416	261	103	abnormal	abnormal	ADJ
cjfa-10416	261	104	return	return	NOUN
cjfa-10416	261	105	,	,	PUNCT
cjfa-10416	261	106	it	it	PRON
cjfa-10416	261	107	was	be	AUX
cjfa-10416	261	108	also	also	ADV
cjfa-10416	261	109	determined	determine	VERB
cjfa-10416	261	110	the	the	DET
cjfa-10416	261	111	price	price	NOUN
cjfa-10416	261	112	reaction	reaction	NOUN
cjfa-10416	261	113	of	of	ADP
cjfa-10416	261	114	stock	stock	NOUN
cjfa-10416	261	115	in	in	ADP
cjfa-10416	261	116	relation	relation	NOUN
cjfa-10416	261	117	to	to	ADP
cjfa-10416	261	118	relevant	relevant	ADJ
cjfa-10416	261	119	information	information	NOUN
cjfa-10416	261	120	,	,	PUNCT
cjfa-10416	261	121	as	as	SCONJ
cjfa-10416	261	122	it	it	PRON
cjfa-10416	261	123	happens	happen	VERB
cjfa-10416	261	124	with	with	ADP
cjfa-10416	261	125	the	the	DET
cjfa-10416	261	126	preliminary	preliminary	ADJ
cjfa-10416	261	127	announcement	announcement	NOUN
cjfa-10416	261	128	of	of	ADP
cjfa-10416	261	129	the	the	DET
cjfa-10416	261	130	takeover	takeover	NOUN
cjfa-10416	261	131	bid	bid	NOUN
cjfa-10416	261	132	.	.	PUNCT
cjfa-10416	262	1	beaver	beaver	PROPN
cjfa-10416	262	2	(	(	PUNCT
cjfa-10416	262	3	1968	1968	NUM
cjfa-10416	262	4	)	)	PUNCT
cjfa-10416	262	5	examines	examine	VERB
cjfa-10416	262	6	the	the	DET
cjfa-10416	262	7	estimate	estimate	NOUN
cjfa-10416	262	8	volatility	volatility	NOUN
cjfa-10416	262	9	of	of	ADP
cjfa-10416	262	10	the	the	DET
cjfa-10416	262	11	residual	residual	ADJ
cjfa-10416	262	12	term	term	NOUN
cjfa-10416	262	13	�	�	PROPN
cjfa-10416	262	14	�	�	PROPN
cjfa-10416	262	15	�	�	PROPN
cjfa-10416	262	16	�	�	PROPN
cjfa-10416	262	17	constituent	constituent	NOUN
cjfa-10416	262	18	of	of	ADP
cjfa-10416	262	19	a	a	DET
cjfa-10416	262	20	market	market	NOUN
cjfa-10416	262	21	model	model	NOUN
cjfa-10416	262	22	regression	regression	NOUN
cjfa-10416	262	23	:	:	PUNCT
cjfa-10416	262	24	�	�	PROPN
cjfa-10416	262	25	�	�	PROPN
cjfa-10416	262	26	�	�	PROPN
cjfa-10416	262	27	�	�	PROPN
cjfa-10416	262	28	�	�	PROPN
cjfa-10416	262	29	�	�	PROPN
cjfa-10416	262	30	�	�	PROPN
cjfa-10416	262	31	�	�	PROPN
cjfa-10416	262	32	�	�	PROPN
cjfa-10416	262	33	�	�	PROPN
cjfa-10416	262	34	�	�	PROPN
cjfa-10416	262	35	�	�	PROPN
cjfa-10416	262	36	�	�	PROPN
cjfa-10416	262	37	�	�	PROPN
cjfa-10416	262	38	�	�	PROPN
cjfa-10416	262	39	�	�	PROPN
cjfa-10416	262	40	�	�	PROPN
cjfa-10416	263	1	[	[	X
cjfa-10416	263	2	10	10	NUM
cjfa-10416	263	3	]	]	PUNCT
cjfa-10416	263	4	where	where	SCONJ
cjfa-10416	263	5	�	�	PROPN
cjfa-10416	263	6	represents	represent	VERB
cjfa-10416	263	7	the	the	DET
cjfa-10416	263	8	price	price	NOUN
cjfa-10416	263	9	reaction	reaction	NOUN
cjfa-10416	263	10	of	of	ADP
cjfa-10416	263	11	stock	stock	NOUN
cjfa-10416	263	12	and	and	CCONJ
cjfa-10416	263	13	�	�	PROPN
cjfa-10416	263	14	�	�	PROPN
cjfa-10416	263	15	�	�	PROPN
cjfa-10416	263	16	�	�	PROPN
cjfa-10416	263	17	�	�	PROPN
cjfa-10416	263	18	�	�	PROPN
cjfa-10416	263	19	�	�	PROPN
cjfa-10416	263	20	�	�	PROPN
cjfa-10416	263	21	�	�	PROPN
cjfa-10416	263	22	represents	represent	VERB
cjfa-10416	263	23	the	the	DET
cjfa-10416	263	24	variance	variance	NOUN
cjfa-10416	263	25	of	of	ADP
cjfa-10416	263	26	the	the	DET
cjfa-10416	263	27	residual	residual	ADJ
cjfa-10416	263	28	term	term	NOUN
cjfa-10416	263	29	in	in	ADP
cjfa-10416	263	30	the	the	DET
cjfa-10416	263	31	period	period	NOUN
cjfa-10416	263	32	furthest	furth	ADJ
cjfa-10416	263	33	to	to	ADP
cjfa-10416	263	34	the	the	DET
cjfa-10416	263	35	preliminary	preliminary	ADJ
cjfa-10416	263	36	announcement	announcement	NOUN
cjfa-10416	263	37	(	(	PUNCT
cjfa-10416	263	38	between	between	ADP
cjfa-10416	263	39	week	week	NOUN
cjfa-10416	263	40	–	–	PUNCT
cjfa-10416	263	41	18	18	NUM
cjfa-10416	263	42	and	and	CCONJ
cjfa-10416	263	43	week	week	NOUN
cjfa-10416	263	44	–	–	PUNCT
cjfa-10416	263	45	6	6	NUM
cjfa-10416	263	46	)	)	PUNCT
cjfa-10416	263	47	.	.	PUNCT
cjfa-10416	264	1	the	the	DET
cjfa-10416	264	2	usage	usage	NOUN
cjfa-10416	264	3	of	of	ADP
cjfa-10416	264	4	these	these	DET
cjfa-10416	264	5	methodologies	methodology	NOUN
cjfa-10416	264	6	assume	assume	VERB
cjfa-10416	264	7	the	the	DET
cjfa-10416	264	8	assumption	assumption	NOUN
cjfa-10416	264	9	of	of	ADP
cjfa-10416	264	10	the	the	DET
cjfa-10416	264	11	prerequisites	prerequisite	NOUN
cjfa-10416	264	12	of	of	ADP
cjfa-10416	264	13	the	the	DET
cjfa-10416	264	14	financial	financial	ADJ
cjfa-10416	264	15	assets	asset	NOUN
cjfa-10416	264	16	valuation	valuation	NOUN
cjfa-10416	264	17	models	model	NOUN
cjfa-10416	264	18	,	,	PUNCT
cjfa-10416	264	19	such	such	ADJ
cjfa-10416	264	20	as	as	ADP
cjfa-10416	264	21	the	the	DET
cjfa-10416	264	22	capital	capital	NOUN
cjfa-10416	264	23	asset	asset	NOUN
cjfa-10416	264	24	pricing	pricing	NOUN
cjfa-10416	264	25	model	model	NOUN
cjfa-10416	264	26	(	(	PUNCT
cjfa-10416	264	27	capm	capm	PROPN
cjfa-10416	264	28	)	)	PUNCT
cjfa-10416	264	29	,	,	PUNCT
cjfa-10416	264	30	namely	namely	ADV
cjfa-10416	264	31	the	the	DET
cjfa-10416	264	32	random	random	ADJ
cjfa-10416	264	33	walk	walk	NOUN
cjfa-10416	264	34	hypothesis	hypothesis	NOUN
cjfa-10416	264	35	with	with	ADP
cjfa-10416	264	36	i.i.d	i.i.d	PROPN
cjfa-10416	264	37	.	.	PUNCT
cjfa-10416	265	1	increments	increment	NOUN
cjfa-10416	265	2	of	of	ADP
cjfa-10416	265	3	the	the	DET
cjfa-10416	265	4	stock	stock	NOUN
cjfa-10416	265	5	returns	return	NOUN
cjfa-10416	265	6	,	,	PUNCT
cjfa-10416	265	7	which	which	PRON
cjfa-10416	265	8	is	be	AUX
cjfa-10416	265	9	the	the	DET
cjfa-10416	265	10	basis	basis	NOUN
cjfa-10416	265	11	of	of	ADP
cjfa-10416	265	12	the	the	DET
cjfa-10416	265	13	efficient	efficient	ADJ
cjfa-10416	265	14	market	market	NOUN
cjfa-10416	265	15	hypothesis	hypothesis	NOUN
cjfa-10416	265	16	(	(	PUNCT
cjfa-10416	265	17	emh	emh	PROPN
cjfa-10416	265	18	)	)	PUNCT
cjfa-10416	265	19	,	,	PUNCT
cjfa-10416	265	20	in	in	ADP
cjfa-10416	265	21	its	its	PRON
cjfa-10416	265	22	weak	weak	ADJ
cjfa-10416	265	23	form	form	NOUN
cjfa-10416	265	24	.	.	PUNCT
cjfa-10416	266	1	regarding	regard	VERB
cjfa-10416	266	2	the	the	DET
cjfa-10416	266	3	advantages	advantage	NOUN
cjfa-10416	266	4	of	of	ADP
cjfa-10416	266	5	the	the	DET
cjfa-10416	266	6	methodologies	methodology	NOUN
cjfa-10416	266	7	studied	study	VERB
cjfa-10416	266	8	,	,	PUNCT
cjfa-10416	266	9	it	it	PRON
cjfa-10416	266	10	’s	’s	AUX
cjfa-10416	266	11	emphasized	emphasize	VERB
cjfa-10416	266	12	the	the	DET
cjfa-10416	266	13	possibility	possibility	NOUN
cjfa-10416	266	14	to	to	PART
cjfa-10416	266	15	analyze	analyze	VERB
cjfa-10416	266	16	the	the	DET
cjfa-10416	266	17	phenomenon	phenomenon	NOUN
cjfa-10416	266	18	of	of	ADP
cjfa-10416	266	19	the	the	DET
cjfa-10416	266	20	impact	impact	NOUN
cjfa-10416	266	21	of	of	ADP
cjfa-10416	266	22	takeover	takeover	NOUN
cjfa-10416	266	23	bids	bid	NOUN
cjfa-10416	266	24	on	on	ADP
cjfa-10416	266	25	the	the	DET
cjfa-10416	266	26	abnormal	abnormal	ADJ
cjfa-10416	266	27	returns	return	NOUN
cjfa-10416	266	28	of	of	ADP
cjfa-10416	266	29	the	the	DET
cjfa-10416	266	30	involved	involved	ADJ
cjfa-10416	266	31	constituent	constituent	NOUN
cjfa-10416	266	32	of	of	ADP
cjfa-10416	266	33	a	a	DET
cjfa-10416	266	34	market	market	NOUN
cjfa-10416	266	35	model	model	NOUN
cjfa-10416	266	36	regression	regression	NOUN
cjfa-10416	266	37	:	:	PUNCT
cjfa-10416	267	1	[	[	X
cjfa-10416	267	2	7	7	X
cjfa-10416	267	3	]	]	PUNCT
cjfa-10416	267	4	finally	finally	ADV
cjfa-10416	267	5	,	,	PUNCT
cjfa-10416	267	6	the	the	DET
cjfa-10416	267	7	average	average	ADJ
cjfa-10416	267	8	abnormal	abnormal	ADJ
cjfa-10416	267	9	return	return	NOUN
cjfa-10416	267	10	(	(	PUNCT
cjfa-10416	267	11	aar	aar	NOUN
cjfa-10416	267	12	)	)	PUNCT
cjfa-10416	267	13	and	and	CCONJ
cjfa-10416	267	14	cumulative	cumulative	ADJ
cjfa-10416	267	15	average	average	ADJ
cjfa-10416	267	16	abnormal	abnormal	ADJ
cjfa-10416	267	17	return	return	NOUN
cjfa-10416	267	18	(	(	PUNCT
cjfa-10416	267	19	caar	caar	NOUN
cjfa-10416	267	20	)	)	PUNCT
cjfa-10416	267	21	are	be	AUX
cjfa-10416	267	22	determined	determine	VERB
cjfa-10416	267	23	by	by	ADP
cjfa-10416	267	24	the	the	DET
cjfa-10416	267	25	following	following	NOUN
cjfa-10416	267	26	:	:	PUNCT
cjfa-10416	267	27	�	�	PROPN
cjfa-10416	267	28	�	�	PROPN
cjfa-10416	267	29	�	�	PROPN
cjfa-10416	267	30	�	�	PROPN
cjfa-10416	267	31	�	�	PROPN
cjfa-10416	267	32	1	1	NUM
cjfa-10416	267	33	�	�	PROPN
cjfa-10416	267	34	�	�	PROPN
cjfa-10416	267	35	�	�	PROPN
cjfa-10416	267	36	�	�	PROPN
cjfa-10416	267	37	�	�	PROPN
cjfa-10416	267	38	�	�	PROPN
cjfa-10416	267	39	�	�	PROPN
cjfa-10416	267	40	�	�	PROPN
cjfa-10416	267	41	�	�	PROPN
cjfa-10416	267	42	�	�	PROPN
cjfa-10416	267	43	�	�	PROPN
cjfa-10416	268	1	[	[	X
cjfa-10416	268	2	8	8	NUM
cjfa-10416	268	3	]	]	PUNCT
cjfa-10416	268	4	�	�	PROPN
cjfa-10416	268	5	�	�	PROPN
cjfa-10416	268	6	�	�	PROPN
cjfa-10416	268	7	�	�	PROPN
cjfa-10416	268	8	�	�	PROPN
cjfa-10416	268	9	�	�	PROPN
cjfa-10416	268	10	�	�	PROPN
cjfa-10416	268	11	�	�	PROPN
cjfa-10416	268	12	�	�	PROPN
cjfa-10416	268	13	�	�	PROPN
cjfa-10416	268	14	�	�	PROPN
cjfa-10416	268	15	�	�	PROPN
cjfa-10416	268	16	�	�	PROPN
cjfa-10416	268	17	�	�	PROPN
cjfa-10416	268	18	�	�	PROPN
cjfa-10416	268	19	�	�	PROPN
cjfa-10416	268	20	�	�	PROPN
cjfa-10416	268	21	�	�	PROPN
cjfa-10416	268	22	�	�	PROPN
cjfa-10416	268	23	�	�	PROPN
cjfa-10416	268	24	[	[	X
cjfa-10416	268	25	9	9	NUM
cjfa-10416	268	26	]	]	PUNCT
cjfa-10416	268	27	where	where	SCONJ
cjfa-10416	268	28	�	�	PROPN
cjfa-10416	268	29	�	�	PROPN
cjfa-10416	268	30	�	�	PROPN
cjfa-10416	268	31	�	�	PROPN
cjfa-10416	268	32	represents	represent	VERB
cjfa-10416	268	33	the	the	DET
cjfa-10416	268	34	average	average	ADJ
cjfa-10416	268	35	abnormal	abnormal	ADJ
cjfa-10416	268	36	return	return	NOUN
cjfa-10416	268	37	in	in	ADP
cjfa-10416	268	38	relation	relation	NOUN
cjfa-10416	268	39	to	to	ADP
cjfa-10416	268	40	all	all	DET
cjfa-10416	268	41	stocks	stock	NOUN
cjfa-10416	268	42	in	in	ADP
cjfa-10416	268	43	�	�	PROPN
cjfa-10416	268	44	period	period	NOUN
cjfa-10416	268	45	,	,	PUNCT
cjfa-10416	268	46	�	�	PROPN
cjfa-10416	268	47	is	be	AUX
cjfa-10416	268	48	the	the	DET
cjfa-10416	268	49	number	number	NOUN
cjfa-10416	268	50	of	of	ADP
cjfa-10416	268	51	companies	company	NOUN
cjfa-10416	268	52	in	in	ADP
cjfa-10416	268	53	analysis	analysis	NOUN
cjfa-10416	268	54	,	,	PUNCT
cjfa-10416	268	55	�	�	PROPN
cjfa-10416	268	56	�	�	PROPN
cjfa-10416	268	57	is	be	AUX
cjfa-10416	268	58	the	the	DET
cjfa-10416	268	59	number	number	NOUN
cjfa-10416	268	60	of	of	ADP
cjfa-10416	268	61	weeks	week	NOUN
cjfa-10416	268	62	in	in	ADP
cjfa-10416	268	63	relation	relation	NOUN
cjfa-10416	268	64	to	to	ADP
cjfa-10416	268	65	the	the	DET
cjfa-10416	268	66	period	period	NOUN
cjfa-10416	268	67	studied	study	VERB
cjfa-10416	268	68	and	and	CCONJ
cjfa-10416	268	69	�	�	PROPN
cjfa-10416	268	70	�	�	PROPN
cjfa-10416	268	71	�	�	PROPN
cjfa-10416	268	72	�	�	PROPN
cjfa-10416	268	73	�	�	PROPN
cjfa-10416	268	74	�	�	PROPN
cjfa-10416	268	75	�	�	PROPN
cjfa-10416	268	76	�	�	PROPN
cjfa-10416	268	77	represents	represent	VERB
cjfa-10416	268	78	the	the	DET
cjfa-10416	268	79	cumulative	cumulative	ADJ
cjfa-10416	268	80	average	average	ADJ
cjfa-10416	268	81	abnormal	abnormal	ADJ
cjfa-10416	268	82	return	return	NOUN
cjfa-10416	268	83	between	between	ADP
cjfa-10416	268	84	week	week	NOUN
cjfa-10416	268	85	�	�	PROPN
cjfa-10416	268	86	�	�	PROPN
cjfa-10416	268	87	and	and	CCONJ
cjfa-10416	268	88	week	week	PROPN
cjfa-10416	268	89	�	�	PROPN
cjfa-10416	268	90	�	�	PROPN
cjfa-10416	268	91	.	.	PUNCT
cjfa-10416	268	92	model	model	PROPN
cjfa-10416	268	93	#	#	SYM
cjfa-10416	268	94	2	2	NUM
cjfa-10416	268	95	–	–	PUNCT
cjfa-10416	268	96	beaver	beaver	NOUN
cjfa-10416	268	97	:	:	PUNCT
cjfa-10416	268	98	besides	besides	SCONJ
cjfa-10416	268	99	the	the	DET
cjfa-10416	268	100	calculation	calculation	NOUN
cjfa-10416	268	101	of	of	ADP
cjfa-10416	268	102	the	the	DET
cjfa-10416	268	103	abnormal	abnormal	ADJ
cjfa-10416	268	104	return	return	NOUN
cjfa-10416	268	105	,	,	PUNCT
cjfa-10416	268	106	it	it	PRON
cjfa-10416	268	107	was	be	AUX
cjfa-10416	268	108	also	also	ADV
cjfa-10416	268	109	determined	determine	VERB
cjfa-10416	268	110	the	the	DET
cjfa-10416	268	111	price	price	NOUN
cjfa-10416	268	112	reaction	reaction	NOUN
cjfa-10416	268	113	of	of	ADP
cjfa-10416	268	114	stock	stock	NOUN
cjfa-10416	268	115	in	in	ADP
cjfa-10416	268	116	relation	relation	NOUN
cjfa-10416	268	117	to	to	ADP
cjfa-10416	268	118	relevant	relevant	ADJ
cjfa-10416	268	119	information	information	NOUN
cjfa-10416	268	120	,	,	PUNCT
cjfa-10416	268	121	as	as	SCONJ
cjfa-10416	268	122	it	it	PRON
cjfa-10416	268	123	happens	happen	VERB
cjfa-10416	268	124	with	with	ADP
cjfa-10416	268	125	the	the	DET
cjfa-10416	268	126	preliminary	preliminary	ADJ
cjfa-10416	268	127	announcement	announcement	NOUN
cjfa-10416	268	128	of	of	ADP
cjfa-10416	268	129	the	the	DET
cjfa-10416	268	130	takeover	takeover	NOUN
cjfa-10416	268	131	bid	bid	NOUN
cjfa-10416	268	132	.	.	PUNCT
cjfa-10416	269	1	beaver	beaver	PROPN
cjfa-10416	269	2	(	(	PUNCT
cjfa-10416	269	3	1968	1968	NUM
cjfa-10416	269	4	)	)	PUNCT
cjfa-10416	269	5	examines	examine	VERB
cjfa-10416	269	6	the	the	DET
cjfa-10416	269	7	estimate	estimate	NOUN
cjfa-10416	269	8	volatility	volatility	NOUN
cjfa-10416	269	9	of	of	ADP
cjfa-10416	269	10	the	the	DET
cjfa-10416	269	11	residual	residual	ADJ
cjfa-10416	269	12	term	term	NOUN
cjfa-10416	269	13	�	�	PROPN
cjfa-10416	269	14	�	�	PROPN
cjfa-10416	269	15	�	�	PROPN
cjfa-10416	269	16	�	�	PROPN
cjfa-10416	269	17	constituent	constituent	NOUN
cjfa-10416	269	18	of	of	ADP
cjfa-10416	269	19	a	a	DET
cjfa-10416	269	20	market	market	NOUN
cjfa-10416	269	21	model	model	NOUN
cjfa-10416	269	22	regression	regression	NOUN
cjfa-10416	269	23	:	:	PUNCT
cjfa-10416	269	24	�	�	PROPN
cjfa-10416	269	25	�	�	PROPN
cjfa-10416	269	26	�	�	PROPN
cjfa-10416	269	27	�	�	PROPN
cjfa-10416	269	28	�	�	PROPN
cjfa-10416	269	29	�	�	PROPN
cjfa-10416	269	30	�	�	PROPN
cjfa-10416	269	31	�	�	PROPN
cjfa-10416	269	32	�	�	PROPN
cjfa-10416	269	33	�	�	PROPN
cjfa-10416	269	34	�	�	PROPN
cjfa-10416	269	35	�	�	PROPN
cjfa-10416	269	36	�	�	PROPN
cjfa-10416	269	37	�	�	PROPN
cjfa-10416	269	38	�	�	PROPN
cjfa-10416	269	39	�	�	PROPN
cjfa-10416	269	40	�	�	PROPN
cjfa-10416	270	1	[	[	X
cjfa-10416	270	2	10	10	NUM
cjfa-10416	270	3	]	]	PUNCT
cjfa-10416	270	4	where	where	SCONJ
cjfa-10416	270	5	�	�	PROPN
cjfa-10416	270	6	represents	represent	VERB
cjfa-10416	270	7	the	the	DET
cjfa-10416	270	8	price	price	NOUN
cjfa-10416	270	9	reaction	reaction	NOUN
cjfa-10416	270	10	of	of	ADP
cjfa-10416	270	11	stock	stock	NOUN
cjfa-10416	270	12	and	and	CCONJ
cjfa-10416	270	13	�	�	PROPN
cjfa-10416	270	14	�	�	PROPN
cjfa-10416	270	15	�	�	PROPN
cjfa-10416	270	16	�	�	PROPN
cjfa-10416	270	17	�	�	PROPN
cjfa-10416	270	18	�	�	PROPN
cjfa-10416	270	19	�	�	PROPN
cjfa-10416	270	20	�	�	PROPN
cjfa-10416	270	21	�	�	PROPN
cjfa-10416	270	22	represents	represent	VERB
cjfa-10416	270	23	the	the	DET
cjfa-10416	270	24	variance	variance	NOUN
cjfa-10416	270	25	of	of	ADP
cjfa-10416	270	26	the	the	DET
cjfa-10416	270	27	residual	residual	ADJ
cjfa-10416	270	28	term	term	NOUN
cjfa-10416	270	29	in	in	ADP
cjfa-10416	270	30	the	the	DET
cjfa-10416	270	31	period	period	NOUN
cjfa-10416	270	32	furthest	furth	ADJ
cjfa-10416	270	33	to	to	ADP
cjfa-10416	270	34	the	the	DET
cjfa-10416	270	35	preliminary	preliminary	ADJ
cjfa-10416	270	36	announcement	announcement	NOUN
cjfa-10416	270	37	(	(	PUNCT
cjfa-10416	270	38	between	between	ADP
cjfa-10416	270	39	week	week	NOUN
cjfa-10416	270	40	–	–	PUNCT
cjfa-10416	270	41	18	18	NUM
cjfa-10416	270	42	and	and	CCONJ
cjfa-10416	270	43	week	week	NOUN
cjfa-10416	270	44	–	–	PUNCT
cjfa-10416	270	45	6	6	NUM
cjfa-10416	270	46	)	)	PUNCT
cjfa-10416	270	47	.	.	PUNCT
cjfa-10416	271	1	the	the	DET
cjfa-10416	271	2	usage	usage	NOUN
cjfa-10416	271	3	of	of	ADP
cjfa-10416	271	4	these	these	DET
cjfa-10416	271	5	methodologies	methodology	NOUN
cjfa-10416	271	6	assume	assume	VERB
cjfa-10416	271	7	the	the	DET
cjfa-10416	271	8	assumption	assumption	NOUN
cjfa-10416	271	9	of	of	ADP
cjfa-10416	271	10	the	the	DET
cjfa-10416	271	11	prerequisites	prerequisite	NOUN
cjfa-10416	271	12	of	of	ADP
cjfa-10416	271	13	the	the	DET
cjfa-10416	271	14	financial	financial	ADJ
cjfa-10416	271	15	assets	asset	NOUN
cjfa-10416	271	16	valuation	valuation	NOUN
cjfa-10416	271	17	models	model	NOUN
cjfa-10416	271	18	,	,	PUNCT
cjfa-10416	271	19	such	such	ADJ
cjfa-10416	271	20	as	as	ADP
cjfa-10416	271	21	the	the	DET
cjfa-10416	271	22	capital	capital	NOUN
cjfa-10416	271	23	asset	asset	NOUN
cjfa-10416	271	24	pricing	pricing	NOUN
cjfa-10416	271	25	model	model	NOUN
cjfa-10416	271	26	(	(	PUNCT
cjfa-10416	271	27	capm	capm	PROPN
cjfa-10416	271	28	)	)	PUNCT
cjfa-10416	271	29	,	,	PUNCT
cjfa-10416	271	30	namely	namely	ADV
cjfa-10416	271	31	the	the	DET
cjfa-10416	271	32	random	random	ADJ
cjfa-10416	271	33	walk	walk	NOUN
cjfa-10416	271	34	hypothesis	hypothesis	NOUN
cjfa-10416	271	35	with	with	ADP
cjfa-10416	271	36	i.i.d	i.i.d	PROPN
cjfa-10416	271	37	.	.	PUNCT
cjfa-10416	272	1	increments	increment	NOUN
cjfa-10416	272	2	of	of	ADP
cjfa-10416	272	3	the	the	DET
cjfa-10416	272	4	stock	stock	NOUN
cjfa-10416	272	5	returns	return	NOUN
cjfa-10416	272	6	,	,	PUNCT
cjfa-10416	272	7	which	which	PRON
cjfa-10416	272	8	is	be	AUX
cjfa-10416	272	9	the	the	DET
cjfa-10416	272	10	basis	basis	NOUN
cjfa-10416	272	11	of	of	ADP
cjfa-10416	272	12	the	the	DET
cjfa-10416	272	13	efficient	efficient	ADJ
cjfa-10416	272	14	market	market	NOUN
cjfa-10416	272	15	hypothesis	hypothesis	NOUN
cjfa-10416	272	16	(	(	PUNCT
cjfa-10416	272	17	emh	emh	PROPN
cjfa-10416	272	18	)	)	PUNCT
cjfa-10416	272	19	,	,	PUNCT
cjfa-10416	272	20	in	in	ADP
cjfa-10416	272	21	its	its	PRON
cjfa-10416	272	22	weak	weak	ADJ
cjfa-10416	272	23	form	form	NOUN
cjfa-10416	272	24	.	.	PUNCT
cjfa-10416	273	1	regarding	regard	VERB
cjfa-10416	273	2	the	the	DET
cjfa-10416	273	3	advantages	advantage	NOUN
cjfa-10416	273	4	of	of	ADP
cjfa-10416	273	5	the	the	DET
cjfa-10416	273	6	methodologies	methodology	NOUN
cjfa-10416	273	7	studied	study	VERB
cjfa-10416	273	8	,	,	PUNCT
cjfa-10416	273	9	it	it	PRON
cjfa-10416	273	10	’s	’s	AUX
cjfa-10416	273	11	emphasized	emphasize	VERB
cjfa-10416	273	12	the	the	DET
cjfa-10416	273	13	possibility	possibility	NOUN
cjfa-10416	273	14	to	to	PART
cjfa-10416	273	15	analyze	analyze	VERB
cjfa-10416	273	16	the	the	DET
cjfa-10416	273	17	phenomenon	phenomenon	NOUN
cjfa-10416	273	18	of	of	ADP
cjfa-10416	273	19	the	the	DET
cjfa-10416	273	20	impact	impact	NOUN
cjfa-10416	273	21	of	of	ADP
cjfa-10416	273	22	takeover	takeover	NOUN
cjfa-10416	273	23	bids	bid	NOUN
cjfa-10416	273	24	on	on	ADP
cjfa-10416	273	25	the	the	DET
cjfa-10416	273	26	abnormal	abnormal	ADJ
cjfa-10416	273	27	returns	return	NOUN
cjfa-10416	273	28	of	of	ADP
cjfa-10416	273	29	the	the	DET
cjfa-10416	273	30	involved	involved	ADJ
cjfa-10416	273	31	[	[	X
cjfa-10416	273	32	10	10	NUM
cjfa-10416	273	33	]	]	PUNCT
cjfa-10416	273	34	where	where	SCONJ
cjfa-10416	273	35	r	r	NOUN
cjfa-10416	273	36	represents	represent	VERB
cjfa-10416	273	37	the	the	DET
cjfa-10416	273	38	price	price	NOUN
cjfa-10416	273	39	reaction	reaction	NOUN
cjfa-10416	273	40	of	of	ADP
cjfa-10416	273	41	stock	stock	NOUN
cjfa-10416	273	42	and	and	CCONJ
cjfa-10416	273	43	[	[	X
cjfa-10416	273	44	7	7	X
cjfa-10416	273	45	]	]	PUNCT
cjfa-10416	273	46	finally	finally	ADV
cjfa-10416	273	47	,	,	PUNCT
cjfa-10416	273	48	the	the	DET
cjfa-10416	273	49	average	average	ADJ
cjfa-10416	273	50	abnormal	abnormal	ADJ
cjfa-10416	273	51	return	return	NOUN
cjfa-10416	273	52	(	(	PUNCT
cjfa-10416	273	53	aar	aar	NOUN
cjfa-10416	273	54	)	)	PUNCT
cjfa-10416	273	55	and	and	CCONJ
cjfa-10416	273	56	cumulative	cumulative	ADJ
cjfa-10416	273	57	average	average	ADJ
cjfa-10416	273	58	abnormal	abnormal	ADJ
cjfa-10416	273	59	return	return	NOUN
cjfa-10416	273	60	(	(	PUNCT
cjfa-10416	273	61	caar	caar	NOUN
cjfa-10416	273	62	)	)	PUNCT
cjfa-10416	273	63	are	be	AUX
cjfa-10416	273	64	determined	determine	VERB
cjfa-10416	273	65	by	by	ADP
cjfa-10416	273	66	the	the	DET
cjfa-10416	273	67	following	following	NOUN
cjfa-10416	273	68	:	:	PUNCT
cjfa-10416	273	69	�	�	PROPN
cjfa-10416	273	70	�	�	PROPN
cjfa-10416	273	71	�	�	PROPN
cjfa-10416	273	72	�	�	PROPN
cjfa-10416	273	73	�	�	PROPN
cjfa-10416	273	74	1	1	NUM
cjfa-10416	273	75	�	�	PROPN
cjfa-10416	273	76	�	�	PROPN
cjfa-10416	273	77	�	�	PROPN
cjfa-10416	273	78	�	�	PROPN
cjfa-10416	273	79	�	�	PROPN
cjfa-10416	273	80	�	�	PROPN
cjfa-10416	273	81	�	�	PROPN
cjfa-10416	273	82	�	�	PROPN
cjfa-10416	273	83	�	�	PROPN
cjfa-10416	273	84	�	�	PROPN
cjfa-10416	273	85	�	�	PROPN
cjfa-10416	274	1	[	[	X
cjfa-10416	274	2	8	8	NUM
cjfa-10416	274	3	]	]	PUNCT
cjfa-10416	274	4	�	�	PROPN
cjfa-10416	274	5	�	�	PROPN
cjfa-10416	274	6	�	�	PROPN
cjfa-10416	274	7	�	�	PROPN
cjfa-10416	274	8	�	�	PROPN
cjfa-10416	274	9	�	�	PROPN
cjfa-10416	274	10	�	�	PROPN
cjfa-10416	274	11	�	�	PROPN
cjfa-10416	274	12	�	�	PROPN
cjfa-10416	274	13	�	�	PROPN
cjfa-10416	274	14	�	�	PROPN
cjfa-10416	274	15	�	�	PROPN
cjfa-10416	274	16	�	�	PROPN
cjfa-10416	274	17	�	�	PROPN
cjfa-10416	274	18	�	�	PROPN
cjfa-10416	274	19	�	�	PROPN
cjfa-10416	274	20	�	�	PROPN
cjfa-10416	274	21	�	�	PROPN
cjfa-10416	274	22	�	�	PROPN
cjfa-10416	274	23	�	�	PROPN
cjfa-10416	274	24	[	[	X
cjfa-10416	274	25	9	9	NUM
cjfa-10416	274	26	]	]	PUNCT
cjfa-10416	274	27	where	where	SCONJ
cjfa-10416	274	28	�	�	PROPN
cjfa-10416	274	29	�	�	PROPN
cjfa-10416	274	30	�	�	PROPN
cjfa-10416	274	31	�	�	PROPN
cjfa-10416	274	32	represents	represent	VERB
cjfa-10416	274	33	the	the	DET
cjfa-10416	274	34	average	average	ADJ
cjfa-10416	274	35	abnormal	abnormal	ADJ
cjfa-10416	274	36	return	return	NOUN
cjfa-10416	274	37	in	in	ADP
cjfa-10416	274	38	relation	relation	NOUN
cjfa-10416	274	39	to	to	ADP
cjfa-10416	274	40	all	all	DET
cjfa-10416	274	41	stocks	stock	NOUN
cjfa-10416	274	42	in	in	ADP
cjfa-10416	274	43	�	�	PROPN
cjfa-10416	274	44	period	period	NOUN
cjfa-10416	274	45	,	,	PUNCT
cjfa-10416	274	46	�	�	PROPN
cjfa-10416	274	47	is	be	AUX
cjfa-10416	274	48	the	the	DET
cjfa-10416	274	49	number	number	NOUN
cjfa-10416	274	50	of	of	ADP
cjfa-10416	274	51	companies	company	NOUN
cjfa-10416	274	52	in	in	ADP
cjfa-10416	274	53	analysis	analysis	NOUN
cjfa-10416	274	54	,	,	PUNCT
cjfa-10416	274	55	�	�	PROPN
cjfa-10416	274	56	�	�	PROPN
cjfa-10416	274	57	is	be	AUX
cjfa-10416	274	58	the	the	DET
cjfa-10416	274	59	number	number	NOUN
cjfa-10416	274	60	of	of	ADP
cjfa-10416	274	61	weeks	week	NOUN
cjfa-10416	274	62	in	in	ADP
cjfa-10416	274	63	relation	relation	NOUN
cjfa-10416	274	64	to	to	ADP
cjfa-10416	274	65	the	the	DET
cjfa-10416	274	66	period	period	NOUN
cjfa-10416	274	67	studied	study	VERB
cjfa-10416	274	68	and	and	CCONJ
cjfa-10416	274	69	�	�	PROPN
cjfa-10416	274	70	�	�	PROPN
cjfa-10416	274	71	�	�	PROPN
cjfa-10416	274	72	�	�	PROPN
cjfa-10416	274	73	�	�	PROPN
cjfa-10416	274	74	�	�	PROPN
cjfa-10416	274	75	�	�	PROPN
cjfa-10416	274	76	�	�	PROPN
cjfa-10416	274	77	represents	represent	VERB
cjfa-10416	274	78	the	the	DET
cjfa-10416	274	79	cumulative	cumulative	ADJ
cjfa-10416	274	80	average	average	ADJ
cjfa-10416	274	81	abnormal	abnormal	ADJ
cjfa-10416	274	82	return	return	NOUN
cjfa-10416	274	83	between	between	ADP
cjfa-10416	274	84	week	week	NOUN
cjfa-10416	274	85	�	�	PROPN
cjfa-10416	274	86	�	�	PROPN
cjfa-10416	274	87	and	and	CCONJ
cjfa-10416	274	88	week	week	PROPN
cjfa-10416	274	89	�	�	PROPN
cjfa-10416	274	90	�	�	PROPN
cjfa-10416	274	91	.	.	PUNCT
cjfa-10416	274	92	model	model	PROPN
cjfa-10416	274	93	#	#	SYM
cjfa-10416	274	94	2	2	NUM
cjfa-10416	274	95	–	–	PUNCT
cjfa-10416	274	96	beaver	beaver	NOUN
cjfa-10416	274	97	:	:	PUNCT
cjfa-10416	274	98	besides	besides	SCONJ
cjfa-10416	274	99	the	the	DET
cjfa-10416	274	100	calculation	calculation	NOUN
cjfa-10416	274	101	of	of	ADP
cjfa-10416	274	102	the	the	DET
cjfa-10416	274	103	abnormal	abnormal	ADJ
cjfa-10416	274	104	return	return	NOUN
cjfa-10416	274	105	,	,	PUNCT
cjfa-10416	274	106	it	it	PRON
cjfa-10416	274	107	was	be	AUX
cjfa-10416	274	108	also	also	ADV
cjfa-10416	274	109	determined	determine	VERB
cjfa-10416	274	110	the	the	DET
cjfa-10416	274	111	price	price	NOUN
cjfa-10416	274	112	reaction	reaction	NOUN
cjfa-10416	274	113	of	of	ADP
cjfa-10416	274	114	stock	stock	NOUN
cjfa-10416	274	115	in	in	ADP
cjfa-10416	274	116	relation	relation	NOUN
cjfa-10416	274	117	to	to	ADP
cjfa-10416	274	118	relevant	relevant	ADJ
cjfa-10416	274	119	information	information	NOUN
cjfa-10416	274	120	,	,	PUNCT
cjfa-10416	274	121	as	as	SCONJ
cjfa-10416	274	122	it	it	PRON
cjfa-10416	274	123	happens	happen	VERB
cjfa-10416	274	124	with	with	ADP
cjfa-10416	274	125	the	the	DET
cjfa-10416	274	126	preliminary	preliminary	ADJ
cjfa-10416	274	127	announcement	announcement	NOUN
cjfa-10416	274	128	of	of	ADP
cjfa-10416	274	129	the	the	DET
cjfa-10416	274	130	takeover	takeover	NOUN
cjfa-10416	274	131	bid	bid	NOUN
cjfa-10416	274	132	.	.	PUNCT
cjfa-10416	275	1	beaver	beaver	PROPN
cjfa-10416	275	2	(	(	PUNCT
cjfa-10416	275	3	1968	1968	NUM
cjfa-10416	275	4	)	)	PUNCT
cjfa-10416	275	5	examines	examine	VERB
cjfa-10416	275	6	the	the	DET
cjfa-10416	275	7	estimate	estimate	NOUN
cjfa-10416	275	8	volatility	volatility	NOUN
cjfa-10416	275	9	of	of	ADP
cjfa-10416	275	10	the	the	DET
cjfa-10416	275	11	residual	residual	ADJ
cjfa-10416	275	12	term	term	NOUN
cjfa-10416	275	13	�	�	PROPN
cjfa-10416	275	14	�	�	PROPN
cjfa-10416	275	15	�	�	PROPN
cjfa-10416	275	16	�	�	PROPN
cjfa-10416	275	17	constituent	constituent	NOUN
cjfa-10416	275	18	of	of	ADP
cjfa-10416	275	19	a	a	DET
cjfa-10416	275	20	market	market	NOUN
cjfa-10416	275	21	model	model	NOUN
cjfa-10416	275	22	regression	regression	NOUN
cjfa-10416	275	23	:	:	PUNCT
cjfa-10416	275	24	�	�	PROPN
cjfa-10416	275	25	�	�	PROPN
cjfa-10416	275	26	�	�	PROPN
cjfa-10416	275	27	�	�	PROPN
cjfa-10416	275	28	�	�	PROPN
cjfa-10416	275	29	�	�	PROPN
cjfa-10416	275	30	�	�	PROPN
cjfa-10416	275	31	�	�	PROPN
cjfa-10416	275	32	�	�	PROPN
cjfa-10416	275	33	�	�	PROPN
cjfa-10416	275	34	�	�	PROPN
cjfa-10416	275	35	�	�	PROPN
cjfa-10416	275	36	�	�	PROPN
cjfa-10416	275	37	�	�	PROPN
cjfa-10416	275	38	�	�	PROPN
cjfa-10416	275	39	�	�	PROPN
cjfa-10416	275	40	�	�	PROPN
cjfa-10416	276	1	[	[	X
cjfa-10416	276	2	10	10	NUM
cjfa-10416	276	3	]	]	PUNCT
cjfa-10416	276	4	where	where	SCONJ
cjfa-10416	276	5	�	�	PROPN
cjfa-10416	276	6	represents	represent	VERB
cjfa-10416	276	7	the	the	DET
cjfa-10416	276	8	price	price	NOUN
cjfa-10416	276	9	reaction	reaction	NOUN
cjfa-10416	276	10	of	of	ADP
cjfa-10416	276	11	stock	stock	NOUN
cjfa-10416	276	12	and	and	CCONJ
cjfa-10416	276	13	�	�	PROPN
cjfa-10416	276	14	�	�	PROPN
cjfa-10416	276	15	�	�	PROPN
cjfa-10416	276	16	�	�	PROPN
cjfa-10416	276	17	�	�	PROPN
cjfa-10416	276	18	�	�	PROPN
cjfa-10416	276	19	�	�	PROPN
cjfa-10416	276	20	�	�	PROPN
cjfa-10416	276	21	�	�	PROPN
cjfa-10416	276	22	represents	represent	VERB
cjfa-10416	276	23	the	the	DET
cjfa-10416	276	24	variance	variance	NOUN
cjfa-10416	276	25	of	of	ADP
cjfa-10416	276	26	the	the	DET
cjfa-10416	276	27	residual	residual	ADJ
cjfa-10416	276	28	term	term	NOUN
cjfa-10416	276	29	in	in	ADP
cjfa-10416	276	30	the	the	DET
cjfa-10416	276	31	period	period	NOUN
cjfa-10416	276	32	furthest	furth	ADJ
cjfa-10416	276	33	to	to	ADP
cjfa-10416	276	34	the	the	DET
cjfa-10416	276	35	preliminary	preliminary	ADJ
cjfa-10416	276	36	announcement	announcement	NOUN
cjfa-10416	276	37	(	(	PUNCT
cjfa-10416	276	38	between	between	ADP
cjfa-10416	276	39	week	week	NOUN
cjfa-10416	276	40	–	–	PUNCT
cjfa-10416	276	41	18	18	NUM
cjfa-10416	276	42	and	and	CCONJ
cjfa-10416	276	43	week	week	NOUN
cjfa-10416	276	44	–	–	PUNCT
cjfa-10416	276	45	6	6	NUM
cjfa-10416	276	46	)	)	PUNCT
cjfa-10416	276	47	.	.	PUNCT
cjfa-10416	277	1	the	the	DET
cjfa-10416	277	2	usage	usage	NOUN
cjfa-10416	277	3	of	of	ADP
cjfa-10416	277	4	these	these	DET
cjfa-10416	277	5	methodologies	methodology	NOUN
cjfa-10416	277	6	assume	assume	VERB
cjfa-10416	277	7	the	the	DET
cjfa-10416	277	8	assumption	assumption	NOUN
cjfa-10416	277	9	of	of	ADP
cjfa-10416	277	10	the	the	DET
cjfa-10416	277	11	prerequisites	prerequisite	NOUN
cjfa-10416	277	12	of	of	ADP
cjfa-10416	277	13	the	the	DET
cjfa-10416	277	14	financial	financial	ADJ
cjfa-10416	277	15	assets	asset	NOUN
cjfa-10416	277	16	valuation	valuation	NOUN
cjfa-10416	277	17	models	model	NOUN
cjfa-10416	277	18	,	,	PUNCT
cjfa-10416	277	19	such	such	ADJ
cjfa-10416	277	20	as	as	ADP
cjfa-10416	277	21	the	the	DET
cjfa-10416	277	22	capital	capital	NOUN
cjfa-10416	277	23	asset	asset	NOUN
cjfa-10416	277	24	pricing	pricing	NOUN
cjfa-10416	277	25	model	model	NOUN
cjfa-10416	277	26	(	(	PUNCT
cjfa-10416	277	27	capm	capm	PROPN
cjfa-10416	277	28	)	)	PUNCT
cjfa-10416	277	29	,	,	PUNCT
cjfa-10416	277	30	namely	namely	ADV
cjfa-10416	277	31	the	the	DET
cjfa-10416	277	32	random	random	ADJ
cjfa-10416	277	33	walk	walk	NOUN
cjfa-10416	277	34	hypothesis	hypothesis	NOUN
cjfa-10416	277	35	with	with	ADP
cjfa-10416	277	36	i.i.d	i.i.d	PROPN
cjfa-10416	277	37	.	.	PUNCT
cjfa-10416	278	1	increments	increment	NOUN
cjfa-10416	278	2	of	of	ADP
cjfa-10416	278	3	the	the	DET
cjfa-10416	278	4	stock	stock	NOUN
cjfa-10416	278	5	returns	return	NOUN
cjfa-10416	278	6	,	,	PUNCT
cjfa-10416	278	7	which	which	PRON
cjfa-10416	278	8	is	be	AUX
cjfa-10416	278	9	the	the	DET
cjfa-10416	278	10	basis	basis	NOUN
cjfa-10416	278	11	of	of	ADP
cjfa-10416	278	12	the	the	DET
cjfa-10416	278	13	efficient	efficient	ADJ
cjfa-10416	278	14	market	market	NOUN
cjfa-10416	278	15	hypothesis	hypothesis	NOUN
cjfa-10416	278	16	(	(	PUNCT
cjfa-10416	278	17	emh	emh	PROPN
cjfa-10416	278	18	)	)	PUNCT
cjfa-10416	278	19	,	,	PUNCT
cjfa-10416	278	20	in	in	ADP
cjfa-10416	278	21	its	its	PRON
cjfa-10416	278	22	weak	weak	ADJ
cjfa-10416	278	23	form	form	NOUN
cjfa-10416	278	24	.	.	PUNCT
cjfa-10416	279	1	regarding	regard	VERB
cjfa-10416	279	2	the	the	DET
cjfa-10416	279	3	advantages	advantage	NOUN
cjfa-10416	279	4	of	of	ADP
cjfa-10416	279	5	the	the	DET
cjfa-10416	279	6	methodologies	methodology	NOUN
cjfa-10416	279	7	studied	study	VERB
cjfa-10416	279	8	,	,	PUNCT
cjfa-10416	279	9	it	it	PRON
cjfa-10416	279	10	’s	’s	AUX
cjfa-10416	279	11	emphasized	emphasize	VERB
cjfa-10416	279	12	the	the	DET
cjfa-10416	279	13	possibility	possibility	NOUN
cjfa-10416	279	14	to	to	PART
cjfa-10416	279	15	analyze	analyze	VERB
cjfa-10416	279	16	the	the	DET
cjfa-10416	279	17	phenomenon	phenomenon	NOUN
cjfa-10416	279	18	of	of	ADP
cjfa-10416	279	19	the	the	DET
cjfa-10416	279	20	impact	impact	NOUN
cjfa-10416	279	21	of	of	ADP
cjfa-10416	279	22	takeover	takeover	NOUN
cjfa-10416	279	23	bids	bid	NOUN
cjfa-10416	279	24	on	on	ADP
cjfa-10416	279	25	the	the	DET
cjfa-10416	279	26	abnormal	abnormal	ADJ
cjfa-10416	279	27	returns	return	NOUN
cjfa-10416	279	28	of	of	ADP
cjfa-10416	279	29	the	the	DET
cjfa-10416	279	30	involved	involved	ADJ
cjfa-10416	279	31	represents	represent	VERB
cjfa-10416	279	32	the	the	DET
cjfa-10416	279	33	variance	variance	NOUN
cjfa-10416	279	34	of	of	ADP
cjfa-10416	279	35	the	the	DET
cjfa-10416	279	36	residual	residual	ADJ
cjfa-10416	279	37	term	term	NOUN
cjfa-10416	279	38	in	in	ADP
cjfa-10416	279	39	the	the	DET
cjfa-10416	279	40	period	period	NOUN
cjfa-10416	279	41	furthest	furth	ADJ
cjfa-10416	279	42	to	to	ADP
cjfa-10416	279	43	the	the	DET
cjfa-10416	279	44	preliminary	preliminary	ADJ
cjfa-10416	279	45	announcement	announcement	NOUN
cjfa-10416	279	46	(	(	PUNCT
cjfa-10416	279	47	between	between	ADP
cjfa-10416	279	48	week	week	NOUN
cjfa-10416	279	49	-18	-18	PUNCT
cjfa-10416	279	50	and	and	CCONJ
cjfa-10416	279	51	week	week	NOUN
cjfa-10416	279	52	-6	-6	PROPN
cjfa-10416	279	53	)	)	PUNCT
cjfa-10416	279	54	.	.	PUNCT
cjfa-10416	280	1	the	the	DET
cjfa-10416	280	2	usage	usage	NOUN
cjfa-10416	280	3	of	of	ADP
cjfa-10416	280	4	these	these	DET
cjfa-10416	280	5	methodologies	methodology	NOUN
cjfa-10416	280	6	assume	assume	VERB
cjfa-10416	280	7	the	the	DET
cjfa-10416	280	8	assumption	assumption	NOUN
cjfa-10416	280	9	of	of	ADP
cjfa-10416	280	10	the	the	DET
cjfa-10416	280	11	prerequisites	prerequisite	NOUN
cjfa-10416	280	12	of	of	ADP
cjfa-10416	280	13	the	the	DET
cjfa-10416	280	14	financial	financial	ADJ
cjfa-10416	280	15	assets	asset	NOUN
cjfa-10416	280	16	valuation	valuation	NOUN
cjfa-10416	280	17	models	model	NOUN
cjfa-10416	280	18	,	,	PUNCT
cjfa-10416	280	19	such	such	ADJ
cjfa-10416	280	20	as	as	ADP
cjfa-10416	280	21	the	the	DET
cjfa-10416	280	22	capital	capital	NOUN
cjfa-10416	280	23	asset	asset	NOUN
cjfa-10416	280	24	pricing	pricing	NOUN
cjfa-10416	280	25	model	model	NOUN
cjfa-10416	280	26	(	(	PUNCT
cjfa-10416	280	27	capm	capm	PROPN
cjfa-10416	280	28	)	)	PUNCT
cjfa-10416	280	29	,	,	PUNCT
cjfa-10416	280	30	namely	namely	ADV
cjfa-10416	280	31	the	the	DET
cjfa-10416	280	32	random	random	ADJ
cjfa-10416	280	33	walk	walk	NOUN
cjfa-10416	280	34	hypothesis	hypothesis	NOUN
cjfa-10416	280	35	with	with	ADP
cjfa-10416	280	36	i.i.d	i.i.d	PROPN
cjfa-10416	280	37	.	.	PUNCT
cjfa-10416	281	1	increments	increment	NOUN
cjfa-10416	281	2	of	of	ADP
cjfa-10416	281	3	the	the	DET
cjfa-10416	281	4	stock	stock	NOUN
cjfa-10416	281	5	returns	return	NOUN
cjfa-10416	281	6	,	,	PUNCT
cjfa-10416	281	7	which	which	PRON
cjfa-10416	281	8	is	be	AUX
cjfa-10416	281	9	the	the	DET
cjfa-10416	281	10	basis	basis	NOUN
cjfa-10416	281	11	of	of	ADP
cjfa-10416	281	12	the	the	DET
cjfa-10416	281	13	efficient	efficient	ADJ
cjfa-10416	281	14	market	market	NOUN
cjfa-10416	281	15	hypothesis	hypothesis	NOUN
cjfa-10416	281	16	(	(	PUNCT
cjfa-10416	281	17	emh	emh	PROPN
cjfa-10416	281	18	)	)	PUNCT
cjfa-10416	281	19	,	,	PUNCT
cjfa-10416	281	20	in	in	ADP
cjfa-10416	281	21	its	its	PRON
cjfa-10416	281	22	weak	weak	ADJ
cjfa-10416	281	23	form	form	NOUN
cjfa-10416	281	24	.	.	PUNCT
cjfa-10416	282	1	regarding	regard	VERB
cjfa-10416	282	2	the	the	DET
cjfa-10416	282	3	advantages	advantage	NOUN
cjfa-10416	282	4	of	of	ADP
cjfa-10416	282	5	the	the	DET
cjfa-10416	282	6	methodologies	methodology	NOUN
cjfa-10416	282	7	studied	study	VERB
cjfa-10416	282	8	,	,	PUNCT
cjfa-10416	282	9	it	it	PRON
cjfa-10416	282	10	’s	’s	AUX
cjfa-10416	282	11	emphasized	emphasize	VERB
cjfa-10416	282	12	the	the	DET
cjfa-10416	282	13	possibility	possibility	NOUN
cjfa-10416	282	14	to	to	PART
cjfa-10416	282	15	analyze	analyze	VERB
cjfa-10416	282	16	the	the	DET
cjfa-10416	282	17	phenomenon	phenomenon	NOUN
cjfa-10416	282	18	of	of	ADP
cjfa-10416	282	19	the	the	DET
cjfa-10416	282	20	impact	impact	NOUN
cjfa-10416	282	21	of	of	ADP
cjfa-10416	282	22	takeover	takeover	NOUN
cjfa-10416	282	23	bids	bid	NOUN
cjfa-10416	282	24	on	on	ADP
cjfa-10416	282	25	the	the	DET
cjfa-10416	282	26	abnormal	abnormal	ADJ
cjfa-10416	282	27	returns	return	NOUN
cjfa-10416	282	28	of	of	ADP
cjfa-10416	282	29	the	the	DET
cjfa-10416	282	30	involved	involved	ADJ
cjfa-10416	282	31	companies	company	NOUN
cjfa-10416	282	32	.	.	PUNCT
cjfa-10416	283	1	regarding	regard	VERB
cjfa-10416	283	2	the	the	DET
cjfa-10416	283	3	disadvantages	disadvantage	NOUN
cjfa-10416	283	4	,	,	PUNCT
cjfa-10416	283	5	we	we	PRON
cjfa-10416	283	6	emphasize	emphasize	VERB
cjfa-10416	283	7	the	the	DET
cjfa-10416	283	8	small	small	ADJ
cjfa-10416	283	9	scope	scope	NOUN
cjfa-10416	283	10	of	of	ADP
cjfa-10416	283	11	the	the	DET
cjfa-10416	283	12	time	time	NOUN
cjfa-10416	283	13	period	period	NOUN
cjfa-10416	283	14	closer	close	ADV
cjfa-10416	283	15	to	to	ADP
cjfa-10416	283	16	the	the	DET
cjfa-10416	283	17	preliminary	preliminary	ADJ
cjfa-10416	283	18	announcement	announcement	NOUN
cjfa-10416	283	19	date	date	NOUN
cjfa-10416	283	20	and	and	CCONJ
cjfa-10416	283	21	further	far	ADV
cjfa-10416	283	22	to	to	ADP
cjfa-10416	283	23	the	the	DET
cjfa-10416	283	24	preliminary	preliminary	ADJ
cjfa-10416	283	25	announcement	announcement	NOUN
cjfa-10416	283	26	date	date	NOUN
cjfa-10416	283	27	,	,	PUNCT
cjfa-10416	283	28	which	which	PRON
cjfa-10416	283	29	may	may	AUX
cjfa-10416	283	30	cause	cause	VERB
cjfa-10416	283	31	problems	problem	NOUN
cjfa-10416	283	32	on	on	ADP
cjfa-10416	283	33	the	the	DET
cjfa-10416	283	34	estimation	estimation	NOUN
cjfa-10416	283	35	of	of	ADP
cjfa-10416	283	36	the	the	DET
cjfa-10416	283	37	value	value	NOUN
cjfa-10416	283	38	of	of	ADP
cjfa-10416	283	39	beta	beta	NOUN
cjfa-10416	283	40	by	by	ADP
cjfa-10416	283	41	the	the	DET
cjfa-10416	283	42	ordinary	ordinary	ADJ
cjfa-10416	283	43	least	least	ADJ
cjfa-10416	283	44	-	-	PUNCT
cjfa-10416	283	45	squares	square	NOUN
cjfa-10416	283	46	method	method	NOUN
cjfa-10416	283	47	(	(	PUNCT
cjfa-10416	283	48	ols	ols	PROPN
cjfa-10416	283	49	)	)	PUNCT
cjfa-10416	283	50	.	.	PUNCT
cjfa-10416	284	1	joão	joão	PROPN
cjfa-10416	284	2	paulo	paulo	PROPN
cjfa-10416	284	3	braga	braga	PROPN
cjfa-10416	284	4	,	,	PUNCT
cjfa-10416	284	5	luís	luís	PROPN
cjfa-10416	284	6	m.	m.	PROPN
cjfa-10416	284	7	pereira	pereira	PROPN
cjfa-10416	284	8	gomes52	gomes52	PROPN
cjfa-10416	284	9	the	the	DET
cjfa-10416	284	10	outcome	outcome	NOUN
cjfa-10416	284	11	of	of	ADP
cjfa-10416	284	12	the	the	DET
cjfa-10416	284	13	research	research	NOUN
cjfa-10416	284	14	process	process	NOUN
cjfa-10416	284	15	model	model	NOUN
cjfa-10416	284	16	#	#	SYM
cjfa-10416	284	17	1	1	NUM
cjfa-10416	284	18	–	–	PUNCT
cjfa-10416	284	19	ball	ball	NOUN
cjfa-10416	284	20	&	&	CCONJ
cjfa-10416	284	21	brown	brown	PROPN
cjfa-10416	284	22	:	:	PUNCT
cjfa-10416	284	23	taking	take	VERB
cjfa-10416	284	24	into	into	ADP
cjfa-10416	284	25	consideration	consideration	NOUN
cjfa-10416	284	26	the	the	DET
cjfa-10416	284	27	ball	ball	NOUN
cjfa-10416	284	28	and	and	CCONJ
cjfa-10416	284	29	brown	brown	ADJ
cjfa-10416	284	30	(	(	PUNCT
cjfa-10416	284	31	1968	1968	NUM
cjfa-10416	284	32	)	)	PUNCT
cjfa-10416	284	33	model	model	NOUN
cjfa-10416	284	34	,	,	PUNCT
cjfa-10416	284	35	graph	graph	NOUN
cjfa-10416	284	36	1	1	NUM
cjfa-10416	284	37	represents	represent	VERB
cjfa-10416	284	38	the	the	DET
cjfa-10416	284	39	caar	caar	NOUN
cjfa-10416	284	40	’s	’s	PART
cjfa-10416	284	41	close	close	ADJ
cjfa-10416	284	42	to	to	ADP
cjfa-10416	284	43	the	the	DET
cjfa-10416	284	44	date	date	NOUN
cjfa-10416	284	45	of	of	ADP
cjfa-10416	284	46	the	the	DET
cjfa-10416	284	47	preliminary	preliminary	ADJ
cjfa-10416	284	48	announcement	announcement	NOUN
cjfa-10416	284	49	of	of	ADP
cjfa-10416	284	50	the	the	DET
cjfa-10416	284	51	takeover	takeover	NOUN
cjfa-10416	284	52	bid	bid	NOUN
cjfa-10416	284	53	for	for	ADP
cjfa-10416	284	54	acquiring	acquire	VERB
cjfa-10416	284	55	companies	company	NOUN
cjfa-10416	284	56	:	:	PUNCT
cjfa-10416	284	57	graph	graph	VERB
cjfa-10416	284	58	1	1	NUM
cjfa-10416	284	59	.	.	PUNCT
cjfa-10416	284	60	cumulative	cumulative	ADJ
cjfa-10416	284	61	average	average	ADJ
cjfa-10416	284	62	(	(	PUNCT
cjfa-10416	284	63	log	log	NOUN
cjfa-10416	284	64	)	)	PUNCT
cjfa-10416	284	65	abnormal	abnormal	ADJ
cjfa-10416	284	66	returns	return	NOUN
cjfa-10416	284	67	(	(	PUNCT
cjfa-10416	284	68	ball	ball	NOUN
cjfa-10416	284	69	&	&	CCONJ
cjfa-10416	284	70	brown	brown	PROPN
cjfa-10416	284	71	)	)	PUNCT
cjfa-10416	284	72	–	–	PUNCT
cjfa-10416	284	73	acquiring	acquire	VERB
cjfa-10416	284	74	companies	company	NOUN
cjfa-10416	284	75	companies	company	NOUN
cjfa-10416	284	76	.	.	PUNCT
cjfa-10416	285	1	regarding	regard	VERB
cjfa-10416	285	2	the	the	DET
cjfa-10416	285	3	disadvantages	disadvantage	NOUN
cjfa-10416	285	4	,	,	PUNCT
cjfa-10416	285	5	we	we	PRON
cjfa-10416	285	6	emphasize	emphasize	VERB
cjfa-10416	285	7	the	the	DET
cjfa-10416	285	8	small	small	ADJ
cjfa-10416	285	9	scope	scope	NOUN
cjfa-10416	285	10	of	of	ADP
cjfa-10416	285	11	the	the	DET
cjfa-10416	285	12	time	time	NOUN
cjfa-10416	285	13	period	period	NOUN
cjfa-10416	285	14	closer	close	ADV
cjfa-10416	285	15	to	to	ADP
cjfa-10416	285	16	the	the	DET
cjfa-10416	285	17	preliminary	preliminary	ADJ
cjfa-10416	285	18	announcement	announcement	NOUN
cjfa-10416	285	19	date	date	NOUN
cjfa-10416	285	20	and	and	CCONJ
cjfa-10416	285	21	further	far	ADV
cjfa-10416	285	22	to	to	ADP
cjfa-10416	285	23	the	the	DET
cjfa-10416	285	24	preliminary	preliminary	ADJ
cjfa-10416	285	25	announcement	announcement	NOUN
cjfa-10416	285	26	date	date	NOUN
cjfa-10416	285	27	,	,	PUNCT
cjfa-10416	285	28	which	which	PRON
cjfa-10416	285	29	may	may	AUX
cjfa-10416	285	30	cause	cause	VERB
cjfa-10416	285	31	problems	problem	NOUN
cjfa-10416	285	32	on	on	ADP
cjfa-10416	285	33	the	the	DET
cjfa-10416	285	34	estimation	estimation	NOUN
cjfa-10416	285	35	of	of	ADP
cjfa-10416	285	36	the	the	DET
cjfa-10416	285	37	value	value	NOUN
cjfa-10416	285	38	of	of	ADP
cjfa-10416	285	39	beta	beta	NOUN
cjfa-10416	285	40	by	by	ADP
cjfa-10416	285	41	the	the	DET
cjfa-10416	285	42	ordinary	ordinary	ADJ
cjfa-10416	285	43	least	least	ADJ
cjfa-10416	285	44	-	-	PUNCT
cjfa-10416	285	45	squares	square	NOUN
cjfa-10416	285	46	method	method	NOUN
cjfa-10416	285	47	(	(	PUNCT
cjfa-10416	285	48	ols	ol	NOUN
cjfa-10416	285	49	)	)	PUNCT
cjfa-10416	285	50	.	.	PUNCT
cjfa-10416	286	1	the	the	DET
cjfa-10416	286	2	outcome	outcome	NOUN
cjfa-10416	286	3	of	of	ADP
cjfa-10416	286	4	the	the	DET
cjfa-10416	286	5	research	research	NOUN
cjfa-10416	286	6	process	process	NOUN
cjfa-10416	286	7	model	model	NOUN
cjfa-10416	286	8	#	#	SYM
cjfa-10416	286	9	1	1	NUM
cjfa-10416	286	10	–	–	PUNCT
cjfa-10416	286	11	ball	ball	NOUN
cjfa-10416	286	12	&	&	CCONJ
cjfa-10416	286	13	brown	brown	PROPN
cjfa-10416	286	14	:	:	PUNCT
cjfa-10416	286	15	taking	take	VERB
cjfa-10416	286	16	into	into	ADP
cjfa-10416	286	17	consideration	consideration	NOUN
cjfa-10416	286	18	the	the	DET
cjfa-10416	286	19	ball	ball	NOUN
cjfa-10416	286	20	and	and	CCONJ
cjfa-10416	286	21	brown	brown	ADJ
cjfa-10416	286	22	(	(	PUNCT
cjfa-10416	286	23	1968	1968	NUM
cjfa-10416	286	24	)	)	PUNCT
cjfa-10416	286	25	model	model	NOUN
cjfa-10416	286	26	,	,	PUNCT
cjfa-10416	286	27	graph	graph	NOUN
cjfa-10416	286	28	1	1	NUM
cjfa-10416	286	29	represents	represent	VERB
cjfa-10416	286	30	the	the	DET
cjfa-10416	286	31	caar	caar	NOUN
cjfa-10416	286	32	’s	’s	PART
cjfa-10416	286	33	close	close	ADJ
cjfa-10416	286	34	to	to	ADP
cjfa-10416	286	35	the	the	DET
cjfa-10416	286	36	date	date	NOUN
cjfa-10416	286	37	of	of	ADP
cjfa-10416	286	38	the	the	DET
cjfa-10416	286	39	preliminary	preliminary	ADJ
cjfa-10416	286	40	announcement	announcement	NOUN
cjfa-10416	286	41	of	of	ADP
cjfa-10416	286	42	the	the	DET
cjfa-10416	286	43	takeover	takeover	NOUN
cjfa-10416	286	44	bid	bid	NOUN
cjfa-10416	286	45	for	for	ADP
cjfa-10416	286	46	acquiring	acquire	VERB
cjfa-10416	286	47	companies	company	NOUN
cjfa-10416	286	48	:	:	PUNCT
cjfa-10416	286	49	graph	graph	VERB
cjfa-10416	286	50	1	1	NUM
cjfa-10416	286	51	.	.	PUNCT
cjfa-10416	286	52	cumulative	cumulative	ADJ
cjfa-10416	286	53	average	average	ADJ
cjfa-10416	286	54	(	(	PUNCT
cjfa-10416	286	55	log	log	NOUN
cjfa-10416	286	56	)	)	PUNCT
cjfa-10416	286	57	abnormal	abnormal	ADJ
cjfa-10416	286	58	returns	return	NOUN
cjfa-10416	286	59	(	(	PUNCT
cjfa-10416	286	60	ball	ball	NOUN
cjfa-10416	286	61	&	&	CCONJ
cjfa-10416	286	62	brown	brown	PROPN
cjfa-10416	286	63	)	)	PUNCT
cjfa-10416	286	64	–	–	PUNCT
cjfa-10416	286	65	acquiring	acquire	VERB
cjfa-10416	286	66	companies	company	NOUN
cjfa-10416	286	67	source	source	NOUN
cjfa-10416	286	68	:	:	PUNCT
cjfa-10416	286	69	elaboration	elaboration	NOUN
cjfa-10416	286	70	of	of	ADP
cjfa-10416	286	71	the	the	DET
cjfa-10416	286	72	author	author	NOUN
cjfa-10416	286	73	.	.	PUNCT
cjfa-10416	287	1	the	the	DET
cjfa-10416	287	2	graph	graph	NOUN
cjfa-10416	287	3	shows	show	VERB
cjfa-10416	287	4	that	that	SCONJ
cjfa-10416	287	5	acquiring	acquire	VERB
cjfa-10416	287	6	companies	company	NOUN
cjfa-10416	287	7	cumulate	cumulate	VERB
cjfa-10416	287	8	negative	negative	ADJ
cjfa-10416	287	9	average	average	ADJ
cjfa-10416	287	10	abnormal	abnormal	ADJ
cjfa-10416	287	11	returns	return	NOUN
cjfa-10416	287	12	close	close	ADJ
cjfa-10416	287	13	to	to	ADP
cjfa-10416	287	14	the	the	DET
cjfa-10416	287	15	date	date	NOUN
cjfa-10416	287	16	of	of	ADP
cjfa-10416	287	17	the	the	DET
cjfa-10416	287	18	preliminary	preliminary	ADJ
cjfa-10416	287	19	announcement	announcement	NOUN
cjfa-10416	287	20	(	(	PUNCT
cjfa-10416	287	21	between	between	ADP
cjfa-10416	287	22	weeks	week	NOUN
cjfa-10416	287	23	-5	-5	INTJ
cjfa-10416	287	24	e	e	X
cjfa-10416	287	25	+5	+5	PROPN
cjfa-10416	287	26	)	)	PUNCT
cjfa-10416	287	27	,	,	PUNCT
cjfa-10416	287	28	especially	especially	ADV
cjfa-10416	287	29	from	from	ADP
cjfa-10416	287	30	week	week	NOUN
cjfa-10416	287	31	+2	+2	PROPN
cjfa-10416	287	32	onwards	onwards	ADV
cjfa-10416	287	33	.	.	PUNCT
cjfa-10416	288	1	the	the	DET
cjfa-10416	288	2	abnormal	abnormal	ADJ
cjfa-10416	288	3	losses	loss	NOUN
cjfa-10416	288	4	in	in	ADP
cjfa-10416	288	5	this	this	DET
cjfa-10416	288	6	group	group	NOUN
cjfa-10416	288	7	of	of	ADP
cjfa-10416	288	8	companies	company	NOUN
cjfa-10416	288	9	occurred	occur	VERB
cjfa-10416	288	10	earlier	early	ADV
cjfa-10416	288	11	(	(	PUNCT
cjfa-10416	288	12	week	week	NOUN
cjfa-10416	288	13	-5	-5	ADJ
cjfa-10416	288	14	)	)	PUNCT
cjfa-10416	288	15	than	than	ADP
cjfa-10416	288	16	the	the	DET
cjfa-10416	288	17	abnormal	abnormal	ADJ
cjfa-10416	288	18	earnings	earning	NOUN
cjfa-10416	288	19	(	(	PUNCT
cjfa-10416	288	20	week	week	NOUN
cjfa-10416	288	21	-2	-2	INTJ
cjfa-10416	288	22	)	)	PUNCT
cjfa-10416	288	23	.	.	PUNCT
cjfa-10416	289	1	moreover	moreover	ADV
cjfa-10416	289	2	,	,	PUNCT
cjfa-10416	289	3	the	the	DET
cjfa-10416	289	4	positive	positive	ADJ
cjfa-10416	289	5	caar	caar	NOUN
cjfa-10416	289	6	’s	’s	PART
cjfa-10416	289	7	stagnate	stagnate	NOUN
cjfa-10416	289	8	at	at	ADP
cjfa-10416	289	9	2.96	2.96	NUM
cjfa-10416	289	10	%	%	NOUN
cjfa-10416	289	11	from	from	ADP
cjfa-10416	289	12	week	week	NOUN
cjfa-10416	289	13	+2	+2	PROPN
cjfa-10416	289	14	,	,	PUNCT
cjfa-10416	289	15	while	while	SCONJ
cjfa-10416	289	16	the	the	DET
cjfa-10416	289	17	negative	negative	ADJ
cjfa-10416	289	18	caar	caar	NOUN
cjfa-10416	289	19	’s	’s	PART
cjfa-10416	289	20	increase	increase	NOUN
cjfa-10416	289	21	until	until	ADP
cjfa-10416	289	22	-6.03	-6.03	NUM
cjfa-10416	289	23	%	%	NOUN
cjfa-10416	289	24	at	at	ADP
cjfa-10416	289	25	the	the	DET
cjfa-10416	289	26	week	week	NOUN
cjfa-10416	289	27	’s	’s	PART
cjfa-10416	289	28	end	end	NOUN
cjfa-10416	289	29	(	(	PUNCT
cjfa-10416	289	30	week	week	NOUN
cjfa-10416	289	31	+5	+5	PROPN
cjfa-10416	289	32	)	)	PUNCT
cjfa-10416	289	33	.	.	PUNCT
cjfa-10416	290	1	the	the	DET
cjfa-10416	290	2	data	data	NOUN
cjfa-10416	290	3	behavior	behavior	NOUN
cjfa-10416	290	4	of	of	ADP
cjfa-10416	290	5	graph	graph	NOUN
cjfa-10416	290	6	1	1	NUM
cjfa-10416	290	7	confirms	confirm	VERB
cjfa-10416	290	8	the	the	DET
cjfa-10416	290	9	working	work	VERB
cjfa-10416	290	10	hypotheses	hypothesis	NOUN
cjfa-10416	290	11	h1	h1	AUX
cjfa-10416	290	12	mentioned	mention	VERB
cjfa-10416	290	13	before	before	ADV
cjfa-10416	290	14	.	.	PUNCT
cjfa-10416	291	1	it	it	PRON
cjfa-10416	291	2	is	be	AUX
cjfa-10416	291	3	confirmed	confirm	VERB
cjfa-10416	291	4	that	that	SCONJ
cjfa-10416	291	5	in	in	ADP
cjfa-10416	291	6	the	the	DET
cjfa-10416	291	7	period	period	NOUN
cjfa-10416	291	8	close	close	ADV
cjfa-10416	291	9	to	to	ADP
cjfa-10416	291	10	the	the	DET
cjfa-10416	291	11	preliminary	preliminary	ADJ
cjfa-10416	291	12	announcement	announcement	NOUN
cjfa-10416	291	13	of	of	ADP
cjfa-10416	291	14	the	the	DET
cjfa-10416	291	15	takeover	takeover	NOUN
cjfa-10416	291	16	bid	bid	NOUN
cjfa-10416	291	17	the	the	DET
cjfa-10416	291	18	acquiring	acquire	VERB
cjfa-10416	291	19	companies	company	NOUN
cjfa-10416	291	20	have	have	VERB
cjfa-10416	291	21	a	a	DET
cjfa-10416	291	22	negative	negative	ADJ
cjfa-10416	291	23	average	average	ADJ
cjfa-10416	291	24	abnormal	abnormal	ADJ
cjfa-10416	291	25	return	return	NOUN
cjfa-10416	291	26	,	,	PUNCT
cjfa-10416	291	27	which	which	PRON
cjfa-10416	291	28	is	be	AUX
cjfa-10416	291	29	n’t	not	PART
cjfa-10416	291	30	compensated	compensate	VERB
cjfa-10416	291	31	by	by	ADP
cjfa-10416	291	32	the	the	DET
cjfa-10416	291	33	reduced	reduce	VERB
cjfa-10416	291	34	cumulative	cumulative	ADJ
cjfa-10416	291	35	abnormal	abnormal	ADJ
cjfa-10416	291	36	earnings	earning	NOUN
cjfa-10416	291	37	,	,	PUNCT
cjfa-10416	291	38	in	in	ADP
cjfa-10416	291	39	the	the	DET
cjfa-10416	291	40	same	same	ADJ
cjfa-10416	291	41	period	period	NOUN
cjfa-10416	291	42	.	.	PUNCT
cjfa-10416	292	1	-0,0700	-0,0700	PUNCT
cjfa-10416	292	2	-0,0600	-0,0600	INTJ
cjfa-10416	292	3	-0,0500	-0,0500	PROPN
cjfa-10416	293	1	-0,0400	-0,0400	INTJ
cjfa-10416	293	2	-0,0300	-0,0300	NUM
cjfa-10416	293	3	-0,0200	-0,0200	PUNCT
cjfa-10416	294	1	-0,0100	-0,0100	PROPN
cjfa-10416	294	2	0,0000	0,0000	NUM
cjfa-10416	294	3	0,0100	0,0100	NOUN
cjfa-10416	294	4	0,0200	0,0200	NOUN
cjfa-10416	294	5	0,0300	0,0300	NUM
cjfa-10416	295	1	0,0400	0,0400	NOUN
cjfa-10416	295	2	-6	-6	INTJ
cjfa-10416	296	1	-5	-5	INTJ
cjfa-10416	296	2	-4	-4	INTJ
cjfa-10416	297	1	-3	-3	INTJ
cjfa-10416	297	2	-2	-2	INTJ
cjfa-10416	297	3	-1	-1	NOUN
cjfa-10416	297	4	0	0	PUNCT
cjfa-10416	298	1	+1	+1	ADJ
cjfa-10416	298	2	+2	+2	PROPN
cjfa-10416	298	3	+3	+3	PROPN
cjfa-10416	298	4	+4	+4	PROPN
cjfa-10416	299	1	+5	+5	PROPN
cjfa-10416	299	2	weeks	week	NOUN
cjfa-10416	299	3	(	(	PUNCT
cjfa-10416	299	4	announcement	announcement	NOUN
cjfa-10416	299	5	period	period	NOUN
cjfa-10416	299	6	)	)	PUNCT
cjfa-10416	299	7	caar	caar	NOUN
cjfa-10416	299	8	+	+	CCONJ
cjfa-10416	299	9	caar	caar	NOUN
cjfa-10416	299	10	s	s	PART
cjfa-10416	299	11	o	o	NOUN
cjfa-10416	299	12	u	u	NOUN
cjfa-10416	299	13	r	r	NOUN
cjfa-10416	299	14	c	c	NOUN
cjfa-10416	299	15	e	e	NOUN
cjfa-10416	299	16	:	:	PUNCT
cjfa-10416	299	17	elaboration	elaboration	NOUN
cjfa-10416	299	18	of	of	ADP
cjfa-10416	299	19	the	the	DET
cjfa-10416	299	20	author	author	NOUN
cjfa-10416	299	21	.	.	PUNCT
cjfa-10416	300	1	the	the	DET
cjfa-10416	300	2	graph	graph	NOUN
cjfa-10416	300	3	shows	show	VERB
cjfa-10416	300	4	that	that	SCONJ
cjfa-10416	300	5	acquiring	acquire	VERB
cjfa-10416	300	6	companies	company	NOUN
cjfa-10416	300	7	cumulate	cumulate	VERB
cjfa-10416	300	8	negative	negative	ADJ
cjfa-10416	300	9	average	average	ADJ
cjfa-10416	300	10	abnormal	abnormal	ADJ
cjfa-10416	300	11	returns	return	NOUN
cjfa-10416	300	12	close	close	ADJ
cjfa-10416	300	13	to	to	ADP
cjfa-10416	300	14	the	the	DET
cjfa-10416	300	15	date	date	NOUN
cjfa-10416	300	16	of	of	ADP
cjfa-10416	300	17	the	the	DET
cjfa-10416	300	18	preliminary	preliminary	ADJ
cjfa-10416	300	19	announcement	announcement	NOUN
cjfa-10416	300	20	(	(	PUNCT
cjfa-10416	300	21	between	between	ADP
cjfa-10416	300	22	weeks	week	NOUN
cjfa-10416	300	23	-5	-5	INTJ
cjfa-10416	300	24	e	e	X
cjfa-10416	300	25	+5	+5	PROPN
cjfa-10416	300	26	)	)	PUNCT
cjfa-10416	300	27	,	,	PUNCT
cjfa-10416	300	28	especially	especially	ADV
cjfa-10416	300	29	from	from	ADP
cjfa-10416	300	30	week	week	NOUN
cjfa-10416	300	31	+2	+2	PROPN
cjfa-10416	300	32	onwards	onwards	ADV
cjfa-10416	300	33	.	.	PUNCT
cjfa-10416	301	1	the	the	DET
cjfa-10416	301	2	abnormal	abnormal	ADJ
cjfa-10416	301	3	losses	loss	NOUN
cjfa-10416	301	4	in	in	ADP
cjfa-10416	301	5	this	this	DET
cjfa-10416	301	6	group	group	NOUN
cjfa-10416	301	7	of	of	ADP
cjfa-10416	301	8	companies	company	NOUN
cjfa-10416	301	9	occurred	occur	VERB
cjfa-10416	301	10	earlier	early	ADV
cjfa-10416	301	11	(	(	PUNCT
cjfa-10416	301	12	week	week	NOUN
cjfa-10416	301	13	-5	-5	ADJ
cjfa-10416	301	14	)	)	PUNCT
cjfa-10416	301	15	than	than	ADP
cjfa-10416	301	16	the	the	DET
cjfa-10416	301	17	abnormal	abnormal	ADJ
cjfa-10416	301	18	earnings	earning	NOUN
cjfa-10416	301	19	(	(	PUNCT
cjfa-10416	301	20	week	week	NOUN
cjfa-10416	301	21	-2	-2	INTJ
cjfa-10416	301	22	)	)	PUNCT
cjfa-10416	301	23	.	.	PUNCT
cjfa-10416	302	1	moreover	moreover	ADV
cjfa-10416	302	2	,	,	PUNCT
cjfa-10416	302	3	the	the	DET
cjfa-10416	302	4	positive	positive	ADJ
cjfa-10416	302	5	caar	caar	NOUN
cjfa-10416	302	6	’s	’s	PART
cjfa-10416	302	7	stagnate	stagnate	NOUN
cjfa-10416	302	8	at	at	ADP
cjfa-10416	302	9	2.96	2.96	NUM
cjfa-10416	302	10	%	%	NOUN
cjfa-10416	302	11	from	from	ADP
cjfa-10416	302	12	week	week	NOUN
cjfa-10416	302	13	+2	+2	PROPN
cjfa-10416	302	14	,	,	PUNCT
cjfa-10416	302	15	while	while	SCONJ
cjfa-10416	302	16	the	the	DET
cjfa-10416	302	17	negative	negative	ADJ
cjfa-10416	302	18	caar	caar	NOUN
cjfa-10416	302	19	’s	’s	PART
cjfa-10416	302	20	increase	increase	NOUN
cjfa-10416	302	21	until	until	ADP
cjfa-10416	302	22	-6.03	-6.03	NUM
cjfa-10416	302	23	%	%	NOUN
cjfa-10416	302	24	at	at	ADP
cjfa-10416	302	25	the	the	DET
cjfa-10416	302	26	week	week	NOUN
cjfa-10416	302	27	’s	’s	PART
cjfa-10416	302	28	end	end	NOUN
cjfa-10416	302	29	(	(	PUNCT
cjfa-10416	302	30	week	week	NOUN
cjfa-10416	302	31	+5	+5	PROPN
cjfa-10416	302	32	)	)	PUNCT
cjfa-10416	302	33	.	.	PUNCT
cjfa-10416	303	1	the	the	DET
cjfa-10416	303	2	data	data	NOUN
cjfa-10416	303	3	behavior	behavior	NOUN
cjfa-10416	303	4	of	of	ADP
cjfa-10416	303	5	graph	graph	NOUN
cjfa-10416	303	6	1	1	NUM
cjfa-10416	303	7	confirms	confirm	VERB
cjfa-10416	303	8	the	the	DET
cjfa-10416	303	9	working	work	VERB
cjfa-10416	303	10	hypotheses	hypothesis	NOUN
cjfa-10416	303	11	h1	h1	AUX
cjfa-10416	303	12	mentioned	mention	VERB
cjfa-10416	303	13	before	before	ADV
cjfa-10416	303	14	.	.	PUNCT
cjfa-10416	304	1	it	it	PRON
cjfa-10416	304	2	is	be	AUX
cjfa-10416	304	3	confirmed	confirm	VERB
cjfa-10416	304	4	that	that	SCONJ
cjfa-10416	304	5	in	in	ADP
cjfa-10416	304	6	the	the	DET
cjfa-10416	304	7	period	period	NOUN
cjfa-10416	304	8	close	close	ADV
cjfa-10416	304	9	to	to	ADP
cjfa-10416	304	10	the	the	DET
cjfa-10416	304	11	preliminary	preliminary	ADJ
cjfa-10416	304	12	announcement	announcement	NOUN
cjfa-10416	304	13	of	of	ADP
cjfa-10416	304	14	the	the	DET
cjfa-10416	304	15	takeover	takeover	NOUN
cjfa-10416	304	16	bid	bid	NOUN
cjfa-10416	304	17	the	the	DET
cjfa-10416	304	18	acquiring	acquire	VERB
cjfa-10416	304	19	companies	company	NOUN
cjfa-10416	304	20	have	have	VERB
cjfa-10416	304	21	a	a	DET
cjfa-10416	304	22	negative	negative	ADJ
cjfa-10416	304	23	average	average	ADJ
cjfa-10416	304	24	abnormal	abnormal	ADJ
cjfa-10416	304	25	return	return	NOUN
cjfa-10416	304	26	,	,	PUNCT
cjfa-10416	304	27	which	which	PRON
cjfa-10416	304	28	is	be	AUX
cjfa-10416	304	29	n’t	not	PART
cjfa-10416	304	30	compensated	compensate	VERB
cjfa-10416	304	31	by	by	ADP
cjfa-10416	304	32	the	the	DET
cjfa-10416	304	33	reduced	reduce	VERB
cjfa-10416	304	34	cumulative	cumulative	ADJ
cjfa-10416	304	35	abnormal	abnormal	ADJ
cjfa-10416	304	36	earnings	earning	NOUN
cjfa-10416	304	37	,	,	PUNCT
cjfa-10416	304	38	in	in	ADP
cjfa-10416	304	39	the	the	DET
cjfa-10416	304	40	same	same	ADJ
cjfa-10416	304	41	period	period	NOUN
cjfa-10416	304	42	.	.	PUNCT
cjfa-10416	305	1	continuing	continue	VERB
cjfa-10416	305	2	with	with	ADP
cjfa-10416	305	3	the	the	DET
cjfa-10416	305	4	ball	ball	NOUN
cjfa-10416	305	5	and	and	CCONJ
cjfa-10416	305	6	brown	brown	ADJ
cjfa-10416	305	7	(	(	PUNCT
cjfa-10416	305	8	1968	1968	NUM
cjfa-10416	305	9	)	)	PUNCT
cjfa-10416	305	10	model	model	NOUN
cjfa-10416	305	11	,	,	PUNCT
cjfa-10416	305	12	graph	graph	NOUN
cjfa-10416	305	13	2	2	NUM
cjfa-10416	305	14	represents	represent	VERB
cjfa-10416	305	15	the	the	DET
cjfa-10416	305	16	caar	caar	NOUN
cjfa-10416	305	17	’s	’s	PART
cjfa-10416	305	18	close	close	ADJ
cjfa-10416	305	19	to	to	ADP
cjfa-10416	305	20	the	the	DET
cjfa-10416	305	21	date	date	NOUN
cjfa-10416	305	22	of	of	ADP
cjfa-10416	305	23	the	the	DET
cjfa-10416	305	24	preliminary	preliminary	ADJ
cjfa-10416	305	25	announcement	announcement	NOUN
cjfa-10416	305	26	of	of	ADP
cjfa-10416	305	27	the	the	DET
cjfa-10416	305	28	takeover	takeover	NOUN
cjfa-10416	305	29	bid	bid	NOUN
cjfa-10416	305	30	for	for	ADP
cjfa-10416	305	31	target	target	NOUN
cjfa-10416	305	32	companies	company	NOUN
cjfa-10416	305	33	:	:	PUNCT
cjfa-10416	305	34	the	the	DET
cjfa-10416	305	35	impact	impact	NOUN
cjfa-10416	305	36	of	of	ADP
cjfa-10416	305	37	the	the	DET
cjfa-10416	305	38	preliminary	preliminary	ADJ
cjfa-10416	305	39	announcement	announcement	NOUN
cjfa-10416	305	40	…	…	PUNCT
cjfa-10416	305	41	53	53	NUM
cjfa-10416	305	42	graph	graph	NOUN
cjfa-10416	305	43	2	2	NUM
cjfa-10416	305	44	.	.	PUNCT
cjfa-10416	305	45	cumulative	cumulative	ADJ
cjfa-10416	305	46	average	average	ADJ
cjfa-10416	305	47	(	(	PUNCT
cjfa-10416	305	48	log	log	NOUN
cjfa-10416	305	49	)	)	PUNCT
cjfa-10416	305	50	abnormal	abnormal	ADJ
cjfa-10416	305	51	returns	return	NOUN
cjfa-10416	305	52	(	(	PUNCT
cjfa-10416	305	53	ball	ball	NOUN
cjfa-10416	305	54	&	&	CCONJ
cjfa-10416	305	55	brown	brown	PROPN
cjfa-10416	305	56	)	)	PUNCT
cjfa-10416	305	57	–	–	PUNCT
cjfa-10416	305	58	target	target	NOUN
cjfa-10416	305	59	companies	company	NOUN
cjfa-10416	305	60	continuing	continue	VERB
cjfa-10416	305	61	with	with	ADP
cjfa-10416	305	62	the	the	DET
cjfa-10416	305	63	ball	ball	NOUN
cjfa-10416	305	64	and	and	CCONJ
cjfa-10416	305	65	brown	brown	ADJ
cjfa-10416	305	66	(	(	PUNCT
cjfa-10416	305	67	1968	1968	NUM
cjfa-10416	305	68	)	)	PUNCT
cjfa-10416	305	69	model	model	NOUN
cjfa-10416	305	70	,	,	PUNCT
cjfa-10416	305	71	graph	graph	NOUN
cjfa-10416	305	72	2	2	NUM
cjfa-10416	305	73	represents	represent	VERB
cjfa-10416	305	74	the	the	DET
cjfa-10416	305	75	caar	caar	NOUN
cjfa-10416	305	76	’s	’s	PART
cjfa-10416	305	77	close	close	ADJ
cjfa-10416	305	78	to	to	ADP
cjfa-10416	305	79	the	the	DET
cjfa-10416	305	80	date	date	NOUN
cjfa-10416	305	81	of	of	ADP
cjfa-10416	305	82	the	the	DET
cjfa-10416	305	83	preliminary	preliminary	ADJ
cjfa-10416	305	84	announcement	announcement	NOUN
cjfa-10416	305	85	of	of	ADP
cjfa-10416	305	86	the	the	DET
cjfa-10416	305	87	takeover	takeover	NOUN
cjfa-10416	305	88	bid	bid	NOUN
cjfa-10416	305	89	for	for	ADP
cjfa-10416	305	90	target	target	NOUN
cjfa-10416	305	91	companies	company	NOUN
cjfa-10416	305	92	:	:	PUNCT
cjfa-10416	305	93	graph	graph	VERB
cjfa-10416	305	94	2	2	NUM
cjfa-10416	305	95	.	.	PUNCT
cjfa-10416	305	96	cumulative	cumulative	ADJ
cjfa-10416	305	97	average	average	ADJ
cjfa-10416	305	98	(	(	PUNCT
cjfa-10416	305	99	log	log	NOUN
cjfa-10416	305	100	)	)	PUNCT
cjfa-10416	305	101	abnormal	abnormal	ADJ
cjfa-10416	305	102	returns	return	NOUN
cjfa-10416	305	103	(	(	PUNCT
cjfa-10416	305	104	ball	ball	NOUN
cjfa-10416	305	105	&	&	CCONJ
cjfa-10416	305	106	brown	brown	PROPN
cjfa-10416	305	107	)	)	PUNCT
cjfa-10416	305	108	–	–	PUNCT
cjfa-10416	305	109	target	target	NOUN
cjfa-10416	305	110	companies	company	NOUN
cjfa-10416	305	111	source	source	NOUN
cjfa-10416	305	112	:	:	PUNCT
cjfa-10416	305	113	elaboration	elaboration	NOUN
cjfa-10416	305	114	of	of	ADP
cjfa-10416	305	115	the	the	DET
cjfa-10416	305	116	author	author	NOUN
cjfa-10416	305	117	.	.	PUNCT
cjfa-10416	306	1	the	the	DET
cjfa-10416	306	2	graph	graph	NOUN
cjfa-10416	306	3	shows	show	VERB
cjfa-10416	306	4	that	that	SCONJ
cjfa-10416	306	5	target	target	NOUN
cjfa-10416	306	6	companies	company	NOUN
cjfa-10416	306	7	cumulate	cumulate	VERB
cjfa-10416	306	8	positive	positive	ADJ
cjfa-10416	306	9	average	average	ADJ
cjfa-10416	306	10	abnormal	abnormal	ADJ
cjfa-10416	306	11	returns	return	NOUN
cjfa-10416	306	12	close	close	ADJ
cjfa-10416	306	13	to	to	ADP
cjfa-10416	306	14	the	the	DET
cjfa-10416	306	15	date	date	NOUN
cjfa-10416	306	16	of	of	ADP
cjfa-10416	306	17	the	the	DET
cjfa-10416	306	18	preliminary	preliminary	ADJ
cjfa-10416	306	19	announcement	announcement	NOUN
cjfa-10416	306	20	(	(	PUNCT
cjfa-10416	306	21	between	between	ADP
cjfa-10416	306	22	weeks	week	NOUN
cjfa-10416	306	23	-5	-5	INTJ
cjfa-10416	306	24	e	e	X
cjfa-10416	306	25	+5	+5	PROPN
cjfa-10416	306	26	)	)	PUNCT
cjfa-10416	306	27	,	,	PUNCT
cjfa-10416	306	28	especially	especially	ADV
cjfa-10416	306	29	from	from	ADP
cjfa-10416	306	30	week	week	NOUN
cjfa-10416	306	31	0	0	NUM
cjfa-10416	306	32	and	and	CCONJ
cjfa-10416	306	33	reinforced	reinforce	VERB
cjfa-10416	306	34	in	in	ADP
cjfa-10416	306	35	week	week	NOUN
cjfa-10416	306	36	+2	+2	PROPN
cjfa-10416	306	37	.	.	PUNCT
cjfa-10416	307	1	the	the	DET
cjfa-10416	307	2	positive	positive	ADJ
cjfa-10416	307	3	caar	caar	NOUN
cjfa-10416	307	4	’s	’s	PART
cjfa-10416	307	5	stagnate	stagnate	NOUN
cjfa-10416	307	6	at	at	ADP
cjfa-10416	307	7	15.16	15.16	NUM
cjfa-10416	307	8	%	%	NOUN
cjfa-10416	307	9	from	from	ADP
cjfa-10416	307	10	week	week	NOUN
cjfa-10416	307	11	+2	+2	PROPN
cjfa-10416	307	12	,	,	PUNCT
cjfa-10416	307	13	while	while	SCONJ
cjfa-10416	307	14	the	the	DET
cjfa-10416	307	15	negative	negative	ADJ
cjfa-10416	307	16	caar	caar	NOUN
cjfa-10416	307	17	’s	’s	PART
cjfa-10416	307	18	increase	increase	NOUN
cjfa-10416	307	19	until	until	ADP
cjfa-10416	307	20	-5.47	-5.47	NUM
cjfa-10416	307	21	%	%	NOUN
cjfa-10416	307	22	at	at	ADP
cjfa-10416	307	23	the	the	DET
cjfa-10416	307	24	week	week	NOUN
cjfa-10416	307	25	’s	’s	PART
cjfa-10416	307	26	end	end	NOUN
cjfa-10416	307	27	+5	+5	PROPN
cjfa-10416	307	28	.	.	PUNCT
cjfa-10416	308	1	the	the	DET
cjfa-10416	308	2	data	data	NOUN
cjfa-10416	308	3	behavior	behavior	NOUN
cjfa-10416	308	4	of	of	ADP
cjfa-10416	308	5	graph	graph	NOUN
cjfa-10416	308	6	2	2	NUM
cjfa-10416	308	7	confirms	confirm	VERB
cjfa-10416	308	8	the	the	DET
cjfa-10416	308	9	working	work	VERB
cjfa-10416	308	10	hypotheses	hypothesis	NOUN
cjfa-10416	308	11	h2	h2	NOUN
cjfa-10416	308	12	mentioned	mention	VERB
cjfa-10416	308	13	before	before	ADV
cjfa-10416	308	14	.	.	PUNCT
cjfa-10416	309	1	it	it	PRON
cjfa-10416	309	2	is	be	AUX
cjfa-10416	309	3	confirmed	confirm	VERB
cjfa-10416	309	4	that	that	SCONJ
cjfa-10416	309	5	in	in	ADP
cjfa-10416	309	6	the	the	DET
cjfa-10416	309	7	period	period	NOUN
cjfa-10416	309	8	close	close	ADV
cjfa-10416	309	9	to	to	ADP
cjfa-10416	309	10	the	the	DET
cjfa-10416	309	11	preliminary	preliminary	ADJ
cjfa-10416	309	12	announcement	announcement	NOUN
cjfa-10416	309	13	of	of	ADP
cjfa-10416	309	14	the	the	DET
cjfa-10416	309	15	takeover	takeover	NOUN
cjfa-10416	309	16	bid	bid	NOUN
cjfa-10416	309	17	target	target	NOUN
cjfa-10416	309	18	companies	company	NOUN
cjfa-10416	309	19	have	have	VERB
cjfa-10416	309	20	a	a	DET
cjfa-10416	309	21	positive	positive	ADJ
cjfa-10416	309	22	average	average	ADJ
cjfa-10416	309	23	abnormal	abnormal	ADJ
cjfa-10416	309	24	return	return	NOUN
cjfa-10416	309	25	,	,	PUNCT
cjfa-10416	309	26	much	much	ADV
cjfa-10416	309	27	higher	high	ADJ
cjfa-10416	309	28	than	than	ADP
cjfa-10416	309	29	the	the	DET
cjfa-10416	309	30	cumulative	cumulative	ADJ
cjfa-10416	309	31	abnormal	abnormal	ADJ
cjfa-10416	309	32	losses	loss	NOUN
cjfa-10416	309	33	,	,	PUNCT
cjfa-10416	309	34	in	in	ADP
cjfa-10416	309	35	the	the	DET
cjfa-10416	309	36	same	same	ADJ
cjfa-10416	309	37	period	period	NOUN
cjfa-10416	309	38	.	.	PUNCT
cjfa-10416	310	1	additionally	additionally	ADV
cjfa-10416	310	2	,	,	PUNCT
cjfa-10416	310	3	it	it	PRON
cjfa-10416	310	4	is	be	AUX
cjfa-10416	310	5	still	still	ADV
cjfa-10416	310	6	noticeable	noticeable	ADJ
cjfa-10416	310	7	that	that	SCONJ
cjfa-10416	310	8	the	the	DET
cjfa-10416	310	9	impact	impact	NOUN
cjfa-10416	310	10	of	of	ADP
cjfa-10416	310	11	the	the	DET
cjfa-10416	310	12	preliminary	preliminary	ADJ
cjfa-10416	310	13	announcement	announcement	NOUN
cjfa-10416	310	14	of	of	ADP
cjfa-10416	310	15	the	the	DET
cjfa-10416	310	16	takeover	takeover	NOUN
cjfa-10416	310	17	bid	bid	NOUN
cjfa-10416	310	18	is	be	AUX
cjfa-10416	310	19	much	much	ADV
cjfa-10416	310	20	higher	high	ADJ
cjfa-10416	310	21	in	in	ADP
cjfa-10416	310	22	the	the	DET
cjfa-10416	310	23	target	target	NOUN
cjfa-10416	310	24	companies	company	NOUN
cjfa-10416	310	25	than	than	ADP
cjfa-10416	310	26	in	in	ADP
cjfa-10416	310	27	the	the	DET
cjfa-10416	310	28	acquiring	acquire	VERB
cjfa-10416	310	29	companies	company	NOUN
cjfa-10416	310	30	,	,	PUNCT
cjfa-10416	310	31	confirming	confirm	VERB
cjfa-10416	310	32	the	the	DET
cjfa-10416	310	33	working	work	VERB
cjfa-10416	310	34	hypothesis	hypothesis	NOUN
cjfa-10416	310	35	h3	h3	NOUN
cjfa-10416	310	36	mentioned	mention	VERB
cjfa-10416	310	37	before	before	ADV
cjfa-10416	310	38	.	.	PUNCT
cjfa-10416	311	1	the	the	DET
cjfa-10416	311	2	relevant	relevant	ADJ
cjfa-10416	311	3	effect	effect	NOUN
cjfa-10416	311	4	of	of	ADP
cjfa-10416	311	5	the	the	DET
cjfa-10416	311	6	disclosure	disclosure	NOUN
cjfa-10416	311	7	of	of	ADP
cjfa-10416	311	8	the	the	DET
cjfa-10416	311	9	preliminary	preliminary	ADJ
cjfa-10416	311	10	announcement	announcement	NOUN
cjfa-10416	311	11	on	on	ADP
cjfa-10416	311	12	the	the	DET
cjfa-10416	311	13	stock	stock	NOUN
cjfa-10416	311	14	prices	price	NOUN
cjfa-10416	311	15	of	of	ADP
cjfa-10416	311	16	the	the	DET
cjfa-10416	311	17	companies	company	NOUN
cjfa-10416	311	18	involved	involve	VERB
cjfa-10416	311	19	in	in	ADP
cjfa-10416	311	20	takeover	takeover	NOUN
cjfa-10416	311	21	bids	bid	NOUN
cjfa-10416	311	22	,	,	PUNCT
cjfa-10416	311	23	mainly	mainly	ADV
cjfa-10416	311	24	on	on	ADP
cjfa-10416	311	25	the	the	DET
cjfa-10416	311	26	target	target	NOUN
cjfa-10416	311	27	companies	company	NOUN
cjfa-10416	311	28	,	,	PUNCT
cjfa-10416	311	29	occurs	occur	VERB
cjfa-10416	311	30	corroborating	corroborate	VERB
cjfa-10416	311	31	the	the	DET
cjfa-10416	311	32	results	result	NOUN
cjfa-10416	311	33	presented	present	VERB
cjfa-10416	311	34	by	by	ADP
cjfa-10416	311	35	ball	ball	NOUN
cjfa-10416	311	36	and	and	CCONJ
cjfa-10416	311	37	brown	brown	ADJ
cjfa-10416	311	38	(	(	PUNCT
cjfa-10416	311	39	1968	1968	NUM
cjfa-10416	311	40	)	)	PUNCT
cjfa-10416	311	41	and	and	CCONJ
cjfa-10416	311	42	is	be	AUX
cjfa-10416	311	43	owed	owe	VERB
cjfa-10416	311	44	,	,	PUNCT
cjfa-10416	311	45	mainly	mainly	ADV
cjfa-10416	311	46	,	,	PUNCT
cjfa-10416	311	47	to	to	ADP
cjfa-10416	311	48	the	the	DET
cjfa-10416	311	49	target	target	NOUN
cjfa-10416	311	50	companies	company	NOUN
cjfa-10416	311	51	’	'	PUNCT
cjfa-10416	311	52	performance	performance	NOUN
cjfa-10416	311	53	such	such	ADJ
cjfa-10416	311	54	as	as	ADP
cjfa-10416	311	55	ptmultimédia.com	ptmultimédia.com	X
cjfa-10416	311	56	,	,	PUNCT
cjfa-10416	311	57	companhia	companhia	PROPN
cjfa-10416	311	58	de	de	PROPN
cjfa-10416	311	59	seguros	seguros	PROPN
cjfa-10416	311	60	império	império	PROPN
cjfa-10416	311	61	,	,	PUNCT
cjfa-10416	311	62	banco	banco	PROPN
cjfa-10416	311	63	mello	mello	PROPN
cjfa-10416	311	64	and	and	CCONJ
cjfa-10416	311	65	banco	banco	PROPN
cjfa-10416	311	66	bpi	bpi	PROPN
cjfa-10416	311	67	.	.	PROPN
cjfa-10416	312	1	graphs	graph	VERB
cjfa-10416	312	2	3	3	NUM
cjfa-10416	312	3	and	and	CCONJ
cjfa-10416	312	4	4	4	NUM
cjfa-10416	312	5	represent	represent	VERB
cjfa-10416	312	6	the	the	DET
cjfa-10416	312	7	calculated	calculate	VERB
cjfa-10416	312	8	caar	caar	NOUN
cjfa-10416	312	9	’s	’	VERB
cjfa-10416	312	10	using	use	VERB
cjfa-10416	312	11	the	the	DET
cjfa-10416	312	12	ball	ball	NOUN
cjfa-10416	312	13	and	and	CCONJ
cjfa-10416	312	14	brown	brown	ADJ
cjfa-10416	312	15	(	(	PUNCT
cjfa-10416	312	16	1968	1968	NUM
cjfa-10416	312	17	)	)	PUNCT
cjfa-10416	312	18	model	model	NOUN
cjfa-10416	312	19	,	,	PUNCT
cjfa-10416	312	20	for	for	ADP
cjfa-10416	312	21	companies	company	NOUN
cjfa-10416	312	22	involved	involve	VERB
cjfa-10416	312	23	in	in	ADP
cjfa-10416	312	24	the	the	DET
cjfa-10416	312	25	takeover	takeover	NOUN
cjfa-10416	312	26	bid	bid	NOUN
cjfa-10416	312	27	during	during	ADP
cjfa-10416	312	28	the	the	DET
cjfa-10416	312	29	period	period	NOUN
cjfa-10416	312	30	close	close	ADV
cjfa-10416	312	31	to	to	ADP
cjfa-10416	312	32	the	the	DET
cjfa-10416	312	33	preliminary	preliminary	ADJ
cjfa-10416	312	34	announcement	announcement	NOUN
cjfa-10416	312	35	and	and	CCONJ
cjfa-10416	312	36	during	during	ADP
cjfa-10416	312	37	a	a	DET
cjfa-10416	312	38	larger	large	ADJ
cjfa-10416	312	39	period	period	NOUN
cjfa-10416	312	40	,	,	PUNCT
cjfa-10416	312	41	respectively	respectively	ADV
cjfa-10416	312	42	:	:	PUNCT
cjfa-10416	313	1	-0,1000	-0,1000	PROPN
cjfa-10416	313	2	-0,0500	-0,0500	INTJ
cjfa-10416	314	1	0,0000	0,0000	DET
cjfa-10416	314	2	0,0500	0,0500	NOUN
cjfa-10416	314	3	0,1000	0,1000	NUM
cjfa-10416	314	4	0,1500	0,1500	NOUN
cjfa-10416	314	5	0,2000	0,2000	NUM
cjfa-10416	315	1	-6	-6	INTJ
cjfa-10416	315	2	-5	-5	INTJ
cjfa-10416	316	1	-4	-4	INTJ
cjfa-10416	316	2	-3	-3	INTJ
cjfa-10416	317	1	-2	-2	INTJ
cjfa-10416	317	2	-1	-1	NOUN
cjfa-10416	317	3	0	0	PUNCT
cjfa-10416	318	1	+1	+1	ADJ
cjfa-10416	318	2	+2	+2	PROPN
cjfa-10416	318	3	+3	+3	PROPN
cjfa-10416	318	4	+4	+4	PROPN
cjfa-10416	319	1	+5	+5	PROPN
cjfa-10416	319	2	weeks	week	NOUN
cjfa-10416	319	3	(	(	PUNCT
cjfa-10416	319	4	announcement	announcement	NOUN
cjfa-10416	319	5	period	period	NOUN
cjfa-10416	319	6	)	)	PUNCT
cjfa-10416	319	7	caar	caar	NOUN
cjfa-10416	319	8	+	+	CCONJ
cjfa-10416	319	9	caar	caar	NOUN
cjfa-10416	319	10	s	s	PART
cjfa-10416	319	11	o	o	NOUN
cjfa-10416	319	12	u	u	NOUN
cjfa-10416	319	13	r	r	NOUN
cjfa-10416	319	14	c	c	NOUN
cjfa-10416	319	15	e	e	NOUN
cjfa-10416	319	16	:	:	PUNCT
cjfa-10416	319	17	elaboration	elaboration	NOUN
cjfa-10416	319	18	of	of	ADP
cjfa-10416	319	19	the	the	DET
cjfa-10416	319	20	author	author	NOUN
cjfa-10416	319	21	.	.	PUNCT
cjfa-10416	320	1	the	the	DET
cjfa-10416	320	2	graph	graph	NOUN
cjfa-10416	320	3	shows	show	VERB
cjfa-10416	320	4	that	that	SCONJ
cjfa-10416	320	5	target	target	NOUN
cjfa-10416	320	6	companies	company	NOUN
cjfa-10416	320	7	cumulate	cumulate	VERB
cjfa-10416	320	8	positive	positive	ADJ
cjfa-10416	320	9	average	average	ADJ
cjfa-10416	320	10	abnormal	abnormal	ADJ
cjfa-10416	320	11	returns	return	NOUN
cjfa-10416	320	12	close	close	ADJ
cjfa-10416	320	13	to	to	ADP
cjfa-10416	320	14	the	the	DET
cjfa-10416	320	15	date	date	NOUN
cjfa-10416	320	16	of	of	ADP
cjfa-10416	320	17	the	the	DET
cjfa-10416	320	18	preliminary	preliminary	ADJ
cjfa-10416	320	19	announcement	announcement	NOUN
cjfa-10416	320	20	(	(	PUNCT
cjfa-10416	320	21	between	between	ADP
cjfa-10416	320	22	weeks	week	NOUN
cjfa-10416	320	23	-5	-5	INTJ
cjfa-10416	320	24	e	e	X
cjfa-10416	320	25	+5	+5	PROPN
cjfa-10416	320	26	)	)	PUNCT
cjfa-10416	320	27	,	,	PUNCT
cjfa-10416	320	28	especially	especially	ADV
cjfa-10416	320	29	from	from	ADP
cjfa-10416	320	30	week	week	NOUN
cjfa-10416	320	31	0	0	NUM
cjfa-10416	320	32	and	and	CCONJ
cjfa-10416	320	33	reinforced	reinforce	VERB
cjfa-10416	320	34	in	in	ADP
cjfa-10416	320	35	week	week	NOUN
cjfa-10416	320	36	+2	+2	PROPN
cjfa-10416	320	37	.	.	PUNCT
cjfa-10416	321	1	the	the	DET
cjfa-10416	321	2	positive	positive	ADJ
cjfa-10416	321	3	caar	caar	NOUN
cjfa-10416	321	4	’s	’s	PART
cjfa-10416	321	5	stagnate	stagnate	NOUN
cjfa-10416	321	6	at	at	ADP
cjfa-10416	321	7	15.16	15.16	NUM
cjfa-10416	321	8	%	%	NOUN
cjfa-10416	321	9	from	from	ADP
cjfa-10416	321	10	week	week	NOUN
cjfa-10416	321	11	+2	+2	PROPN
cjfa-10416	321	12	,	,	PUNCT
cjfa-10416	321	13	while	while	SCONJ
cjfa-10416	321	14	the	the	DET
cjfa-10416	321	15	negative	negative	ADJ
cjfa-10416	321	16	caar	caar	NOUN
cjfa-10416	321	17	’s	’s	PART
cjfa-10416	321	18	increase	increase	NOUN
cjfa-10416	321	19	until	until	ADP
cjfa-10416	321	20	-5.47	-5.47	NUM
cjfa-10416	321	21	%	%	NOUN
cjfa-10416	321	22	at	at	ADP
cjfa-10416	321	23	the	the	DET
cjfa-10416	321	24	week	week	NOUN
cjfa-10416	321	25	’s	’s	PART
cjfa-10416	321	26	end	end	NOUN
cjfa-10416	321	27	+5	+5	PROPN
cjfa-10416	321	28	.	.	PUNCT
cjfa-10416	322	1	the	the	DET
cjfa-10416	322	2	data	data	NOUN
cjfa-10416	322	3	behavior	behavior	NOUN
cjfa-10416	322	4	of	of	ADP
cjfa-10416	322	5	graph	graph	NOUN
cjfa-10416	322	6	2	2	NUM
cjfa-10416	322	7	confirms	confirm	VERB
cjfa-10416	322	8	the	the	DET
cjfa-10416	322	9	working	work	VERB
cjfa-10416	322	10	hypotheses	hypothesis	NOUN
cjfa-10416	322	11	h2	h2	NOUN
cjfa-10416	322	12	mentioned	mention	VERB
cjfa-10416	322	13	before	before	ADV
cjfa-10416	322	14	.	.	PUNCT
cjfa-10416	323	1	it	it	PRON
cjfa-10416	323	2	is	be	AUX
cjfa-10416	323	3	confirmed	confirm	VERB
cjfa-10416	323	4	that	that	SCONJ
cjfa-10416	323	5	in	in	ADP
cjfa-10416	323	6	the	the	DET
cjfa-10416	323	7	period	period	NOUN
cjfa-10416	323	8	close	close	ADV
cjfa-10416	323	9	to	to	ADP
cjfa-10416	323	10	the	the	DET
cjfa-10416	323	11	preliminary	preliminary	ADJ
cjfa-10416	323	12	announcement	announcement	NOUN
cjfa-10416	323	13	of	of	ADP
cjfa-10416	323	14	the	the	DET
cjfa-10416	323	15	takeover	takeover	NOUN
cjfa-10416	323	16	bid	bid	NOUN
cjfa-10416	323	17	target	target	NOUN
cjfa-10416	323	18	companies	company	NOUN
cjfa-10416	323	19	have	have	VERB
cjfa-10416	323	20	a	a	DET
cjfa-10416	323	21	positive	positive	ADJ
cjfa-10416	323	22	average	average	ADJ
cjfa-10416	323	23	abnormal	abnormal	ADJ
cjfa-10416	323	24	return	return	NOUN
cjfa-10416	323	25	,	,	PUNCT
cjfa-10416	323	26	much	much	ADV
cjfa-10416	323	27	higher	high	ADJ
cjfa-10416	323	28	than	than	ADP
cjfa-10416	323	29	the	the	DET
cjfa-10416	323	30	cumulative	cumulative	ADJ
cjfa-10416	323	31	abnormal	abnormal	ADJ
cjfa-10416	323	32	losses	loss	NOUN
cjfa-10416	323	33	,	,	PUNCT
cjfa-10416	323	34	in	in	ADP
cjfa-10416	323	35	the	the	DET
cjfa-10416	323	36	same	same	ADJ
cjfa-10416	323	37	period	period	NOUN
cjfa-10416	323	38	.	.	PUNCT
cjfa-10416	324	1	additionally	additionally	ADV
cjfa-10416	324	2	,	,	PUNCT
cjfa-10416	324	3	it	it	PRON
cjfa-10416	324	4	is	be	AUX
cjfa-10416	324	5	still	still	ADV
cjfa-10416	324	6	noticeable	noticeable	ADJ
cjfa-10416	324	7	that	that	SCONJ
cjfa-10416	324	8	the	the	DET
cjfa-10416	324	9	impact	impact	NOUN
cjfa-10416	324	10	of	of	ADP
cjfa-10416	324	11	the	the	DET
cjfa-10416	324	12	preliminary	preliminary	ADJ
cjfa-10416	324	13	announcement	announcement	NOUN
cjfa-10416	324	14	of	of	ADP
cjfa-10416	324	15	the	the	DET
cjfa-10416	324	16	takeover	takeover	NOUN
cjfa-10416	324	17	bid	bid	NOUN
cjfa-10416	324	18	is	be	AUX
cjfa-10416	324	19	much	much	ADV
cjfa-10416	324	20	higher	high	ADJ
cjfa-10416	324	21	in	in	ADP
cjfa-10416	324	22	the	the	DET
cjfa-10416	324	23	target	target	NOUN
cjfa-10416	324	24	companies	company	NOUN
cjfa-10416	324	25	than	than	ADP
cjfa-10416	324	26	in	in	ADP
cjfa-10416	324	27	the	the	DET
cjfa-10416	324	28	acquiring	acquire	VERB
cjfa-10416	324	29	companies	company	NOUN
cjfa-10416	324	30	,	,	PUNCT
cjfa-10416	324	31	confirming	confirm	VERB
cjfa-10416	324	32	the	the	DET
cjfa-10416	324	33	working	work	VERB
cjfa-10416	324	34	hypothesis	hypothesis	NOUN
cjfa-10416	324	35	h3	h3	NOUN
cjfa-10416	324	36	mentioned	mention	VERB
cjfa-10416	324	37	before	before	ADV
cjfa-10416	324	38	.	.	PUNCT
cjfa-10416	325	1	the	the	DET
cjfa-10416	325	2	relevant	relevant	ADJ
cjfa-10416	325	3	effect	effect	NOUN
cjfa-10416	325	4	of	of	ADP
cjfa-10416	325	5	the	the	DET
cjfa-10416	325	6	disclosure	disclosure	NOUN
cjfa-10416	325	7	of	of	ADP
cjfa-10416	325	8	the	the	DET
cjfa-10416	325	9	preliminary	preliminary	ADJ
cjfa-10416	325	10	announcement	announcement	NOUN
cjfa-10416	325	11	on	on	ADP
cjfa-10416	325	12	the	the	DET
cjfa-10416	325	13	stock	stock	NOUN
cjfa-10416	325	14	prices	price	NOUN
cjfa-10416	325	15	of	of	ADP
cjfa-10416	325	16	the	the	DET
cjfa-10416	325	17	companies	company	NOUN
cjfa-10416	325	18	involved	involve	VERB
cjfa-10416	325	19	in	in	ADP
cjfa-10416	325	20	takeover	takeover	NOUN
cjfa-10416	325	21	bids	bid	NOUN
cjfa-10416	325	22	,	,	PUNCT
cjfa-10416	325	23	mainly	mainly	ADV
cjfa-10416	325	24	on	on	ADP
cjfa-10416	325	25	the	the	DET
cjfa-10416	325	26	target	target	NOUN
cjfa-10416	325	27	companies	company	NOUN
cjfa-10416	325	28	,	,	PUNCT
cjfa-10416	325	29	occurs	occur	VERB
cjfa-10416	325	30	corroborating	corroborate	VERB
cjfa-10416	325	31	the	the	DET
cjfa-10416	325	32	results	result	NOUN
cjfa-10416	325	33	presented	present	VERB
cjfa-10416	325	34	by	by	ADP
cjfa-10416	325	35	ball	ball	NOUN
cjfa-10416	325	36	and	and	CCONJ
cjfa-10416	325	37	brown	brown	ADJ
cjfa-10416	325	38	(	(	PUNCT
cjfa-10416	325	39	1968	1968	NUM
cjfa-10416	325	40	)	)	PUNCT
cjfa-10416	325	41	and	and	CCONJ
cjfa-10416	325	42	is	be	AUX
cjfa-10416	325	43	owed	owe	VERB
cjfa-10416	325	44	,	,	PUNCT
cjfa-10416	325	45	mainly	mainly	ADV
cjfa-10416	325	46	,	,	PUNCT
cjfa-10416	325	47	to	to	ADP
cjfa-10416	325	48	the	the	DET
cjfa-10416	325	49	target	target	NOUN
cjfa-10416	325	50	companies	company	NOUN
cjfa-10416	325	51	’	'	PUNCT
cjfa-10416	325	52	performance	performance	NOUN
cjfa-10416	325	53	such	such	ADJ
cjfa-10416	325	54	as	as	ADP
cjfa-10416	325	55	pt	pt	NOUN
cjfa-10416	325	56	 	 	SPACE
cjfa-10416	325	57	multimédia.com	multimédia.com	X
cjfa-10416	325	58	,	,	PUNCT
cjfa-10416	325	59	companhia	companhia	PROPN
cjfa-10416	325	60	de	de	PROPN
cjfa-10416	325	61	seguros	seguros	PROPN
cjfa-10416	325	62	império	império	PROPN
cjfa-10416	325	63	,	,	PUNCT
cjfa-10416	325	64	banco	banco	PROPN
cjfa-10416	325	65	mello	mello	PROPN
cjfa-10416	325	66	and	and	CCONJ
cjfa-10416	325	67	banco	banco	PROPN
cjfa-10416	325	68	bpi	bpi	PROPN
cjfa-10416	325	69	.	.	PROPN
cjfa-10416	326	1	graphs	graph	VERB
cjfa-10416	326	2	3	3	NUM
cjfa-10416	326	3	and	and	CCONJ
cjfa-10416	326	4	4	4	NUM
cjfa-10416	326	5	represent	represent	VERB
cjfa-10416	326	6	the	the	DET
cjfa-10416	326	7	calculated	calculate	VERB
cjfa-10416	326	8	caar	caar	NOUN
cjfa-10416	326	9	’s	’	VERB
cjfa-10416	326	10	using	use	VERB
cjfa-10416	326	11	the	the	DET
cjfa-10416	326	12	ball	ball	NOUN
cjfa-10416	326	13	and	and	CCONJ
cjfa-10416	326	14	brown	brown	ADJ
cjfa-10416	326	15	(	(	PUNCT
cjfa-10416	326	16	1968	1968	NUM
cjfa-10416	326	17	)	)	PUNCT
cjfa-10416	326	18	model	model	NOUN
cjfa-10416	326	19	,	,	PUNCT
cjfa-10416	326	20	for	for	ADP
cjfa-10416	326	21	companies	company	NOUN
cjfa-10416	326	22	involved	involve	VERB
cjfa-10416	326	23	in	in	ADP
cjfa-10416	326	24	the	the	DET
cjfa-10416	326	25	takeover	takeover	NOUN
cjfa-10416	326	26	bid	bid	NOUN
cjfa-10416	326	27	during	during	ADP
cjfa-10416	326	28	the	the	DET
cjfa-10416	326	29	period	period	NOUN
cjfa-10416	326	30	close	close	ADV
cjfa-10416	326	31	to	to	ADP
cjfa-10416	326	32	the	the	DET
cjfa-10416	326	33	preliminary	preliminary	ADJ
cjfa-10416	326	34	announcement	announcement	NOUN
cjfa-10416	326	35	and	and	CCONJ
cjfa-10416	326	36	during	during	ADP
cjfa-10416	326	37	a	a	DET
cjfa-10416	326	38	larger	large	ADJ
cjfa-10416	326	39	period	period	NOUN
cjfa-10416	326	40	,	,	PUNCT
cjfa-10416	326	41	respectively	respectively	ADV
cjfa-10416	326	42	:	:	PUNCT
cjfa-10416	326	43	joão	joão	PROPN
cjfa-10416	326	44	paulo	paulo	PROPN
cjfa-10416	326	45	braga	braga	PROPN
cjfa-10416	326	46	,	,	PUNCT
cjfa-10416	326	47	luís	luís	PROPN
cjfa-10416	326	48	m.	m.	PROPN
cjfa-10416	326	49	pereira	pereira	PROPN
cjfa-10416	326	50	gomes54	gomes54	PROPN
cjfa-10416	326	51	graph	graph	NOUN
cjfa-10416	326	52	3	3	NUM
cjfa-10416	326	53	.	.	PUNCT
cjfa-10416	326	54	cumulated	cumulated	ADJ
cjfa-10416	326	55	average	average	ADJ
cjfa-10416	326	56	(	(	PUNCT
cjfa-10416	326	57	log	log	NOUN
cjfa-10416	326	58	)	)	PUNCT
cjfa-10416	326	59	abnormal	abnormal	ADJ
cjfa-10416	326	60	returns	return	NOUN
cjfa-10416	326	61	(	(	PUNCT
cjfa-10416	326	62	ball	ball	NOUN
cjfa-10416	326	63	&	&	CCONJ
cjfa-10416	326	64	brown	brown	PROPN
cjfa-10416	326	65	)	)	PUNCT
cjfa-10416	326	66	–	–	PUNCT
cjfa-10416	326	67	companies	company	NOUN
cjfa-10416	326	68	involved	involve	VERB
cjfa-10416	326	69	graph	graph	NOUN
cjfa-10416	326	70	3	3	NUM
cjfa-10416	326	71	.	.	PUNCT
cjfa-10416	326	72	cumulated	cumulated	ADJ
cjfa-10416	326	73	average	average	ADJ
cjfa-10416	326	74	(	(	PUNCT
cjfa-10416	326	75	log	log	NOUN
cjfa-10416	326	76	)	)	PUNCT
cjfa-10416	326	77	abnormal	abnormal	ADJ
cjfa-10416	326	78	returns	return	NOUN
cjfa-10416	326	79	(	(	PUNCT
cjfa-10416	326	80	ball	ball	NOUN
cjfa-10416	326	81	&	&	CCONJ
cjfa-10416	326	82	brown	brown	PROPN
cjfa-10416	326	83	)	)	PUNCT
cjfa-10416	326	84	–	–	PUNCT
cjfa-10416	326	85	companies	company	NOUN
cjfa-10416	326	86	involved	involve	VERB
cjfa-10416	326	87	source	source	NOUN
cjfa-10416	326	88	:	:	PUNCT
cjfa-10416	326	89	elaboration	elaboration	NOUN
cjfa-10416	326	90	of	of	ADP
cjfa-10416	326	91	the	the	DET
cjfa-10416	326	92	author	author	NOUN
cjfa-10416	326	93	.	.	PUNCT
cjfa-10416	327	1	graph	graph	NOUN
cjfa-10416	327	2	3	3	NUM
cjfa-10416	327	3	shows	show	VERB
cjfa-10416	327	4	the	the	DET
cjfa-10416	327	5	consolidated	consolidated	ADJ
cjfa-10416	327	6	effect	effect	NOUN
cjfa-10416	327	7	of	of	ADP
cjfa-10416	327	8	the	the	DET
cjfa-10416	327	9	previously	previously	ADV
cjfa-10416	327	10	shown	show	VERB
cjfa-10416	327	11	graphs	graph	NOUN
cjfa-10416	327	12	1	1	NUM
cjfa-10416	327	13	and	and	CCONJ
cjfa-10416	327	14	2	2	NUM
cjfa-10416	327	15	,	,	PUNCT
cjfa-10416	327	16	denoting	denote	VERB
cjfa-10416	327	17	a	a	DET
cjfa-10416	327	18	strong	strong	ADJ
cjfa-10416	327	19	influence	influence	NOUN
cjfa-10416	327	20	of	of	ADP
cjfa-10416	327	21	the	the	DET
cjfa-10416	327	22	companies	company	NOUN
cjfa-10416	327	23	involved	involve	VERB
cjfa-10416	327	24	and	and	CCONJ
cjfa-10416	327	25	greater	great	ADJ
cjfa-10416	327	26	amplitude	amplitude	NOUN
cjfa-10416	327	27	of	of	ADP
cjfa-10416	327	28	the	the	DET
cjfa-10416	327	29	target	target	NOUN
cjfa-10416	327	30	companies	company	NOUN
cjfa-10416	327	31	’	'	PUNCT
cjfa-10416	327	32	obtained	obtain	VERB
cjfa-10416	327	33	earnings	earning	NOUN
cjfa-10416	327	34	.	.	PUNCT
cjfa-10416	328	1	in	in	ADP
cjfa-10416	328	2	relation	relation	NOUN
cjfa-10416	328	3	to	to	ADP
cjfa-10416	328	4	the	the	DET
cjfa-10416	328	5	12	12	NUM
cjfa-10416	328	6	bids	bid	NOUN
cjfa-10416	328	7	studied	study	VERB
cjfa-10416	328	8	,	,	PUNCT
cjfa-10416	328	9	the	the	DET
cjfa-10416	328	10	aar	aar	NOUN
cjfa-10416	328	11	’s	’s	PART
cjfa-10416	328	12	cumulated	cumulated	ADJ
cjfa-10416	328	13	earnings	earning	NOUN
cjfa-10416	328	14	of	of	ADP
cjfa-10416	328	15	+8.60	+8.60	PROPN
cjfa-10416	328	16	%	%	NOUN
cjfa-10416	328	17	and	and	CCONJ
cjfa-10416	328	18	losses	loss	NOUN
cjfa-10416	328	19	of	of	ADP
cjfa-10416	328	20	-5.29	-5.29	NOUN
cjfa-10416	328	21	%	%	NOUN
cjfa-10416	328	22	close	close	ADJ
cjfa-10416	328	23	to	to	ADP
cjfa-10416	328	24	the	the	DET
cjfa-10416	328	25	period	period	NOUN
cjfa-10416	328	26	of	of	ADP
cjfa-10416	328	27	the	the	DET
cjfa-10416	328	28	preliminary	preliminary	ADJ
cjfa-10416	328	29	announcement	announcement	NOUN
cjfa-10416	328	30	.	.	PUNCT
cjfa-10416	329	1	graph	graph	NOUN
cjfa-10416	329	2	4	4	NUM
cjfa-10416	329	3	.	.	PUNCT
cjfa-10416	329	4	cumulated	cumulate	VERB
cjfa-10416	329	5	average	average	ADJ
cjfa-10416	329	6	(	(	PUNCT
cjfa-10416	329	7	log	log	NOUN
cjfa-10416	329	8	)	)	PUNCT
cjfa-10416	329	9	abnormal	abnormal	ADJ
cjfa-10416	329	10	returns	return	NOUN
cjfa-10416	329	11	(	(	PUNCT
cjfa-10416	329	12	ball	ball	NOUN
cjfa-10416	329	13	&	&	CCONJ
cjfa-10416	329	14	brown	brown	PROPN
cjfa-10416	329	15	)	)	PUNCT
cjfa-10416	329	16	–	–	PUNCT
cjfa-10416	329	17	companies	company	NOUN
cjfa-10416	329	18	involved	involve	VERB
cjfa-10416	329	19	source	source	NOUN
cjfa-10416	329	20	:	:	PUNCT
cjfa-10416	329	21	elaboration	elaboration	NOUN
cjfa-10416	329	22	of	of	ADP
cjfa-10416	329	23	the	the	DET
cjfa-10416	329	24	author	author	NOUN
cjfa-10416	329	25	.	.	PUNCT
cjfa-10416	330	1	graph	graph	NOUN
cjfa-10416	330	2	4	4	NUM
cjfa-10416	330	3	confirms	confirm	VERB
cjfa-10416	330	4	the	the	DET
cjfa-10416	330	5	strong	strong	ADJ
cjfa-10416	330	6	behavior	behavior	NOUN
cjfa-10416	330	7	changes	change	NOUN
cjfa-10416	330	8	of	of	ADP
cjfa-10416	330	9	the	the	DET
cjfa-10416	330	10	stock	stock	NOUN
cjfa-10416	330	11	prices	price	NOUN
cjfa-10416	330	12	of	of	ADP
cjfa-10416	330	13	the	the	DET
cjfa-10416	330	14	companies	company	NOUN
cjfa-10416	330	15	involved	involve	VERB
cjfa-10416	330	16	in	in	ADP
cjfa-10416	330	17	takeover	takeover	NOUN
cjfa-10416	330	18	bids	bid	NOUN
cjfa-10416	330	19	.	.	PUNCT
cjfa-10416	331	1	in	in	ADP
cjfa-10416	331	2	the	the	DET
cjfa-10416	331	3	previous	previous	ADJ
cjfa-10416	331	4	phase	phase	NOUN
cjfa-10416	331	5	of	of	ADP
cjfa-10416	331	6	the	the	DET
cjfa-10416	331	7	preliminary	preliminary	ADJ
cjfa-10416	331	8	announcement	announcement	NOUN
cjfa-10416	331	9	,	,	PUNCT
cjfa-10416	331	10	the	the	DET
cjfa-10416	331	11	tendency	tendency	NOUN
cjfa-10416	331	12	is	be	AUX
cjfa-10416	331	13	to	to	PART
cjfa-10416	331	14	grow	grow	VERB
cjfa-10416	331	15	until	until	ADP
cjfa-10416	331	16	the	the	DET
cjfa-10416	331	17	first	first	ADJ
cjfa-10416	331	18	“	"	PUNCT
cjfa-10416	331	19	peak	peak	NOUN
cjfa-10416	331	20	”	"	PUNCT
cjfa-10416	331	21	(	(	PUNCT
cjfa-10416	331	22	week	week	NOUN
cjfa-10416	331	23	-8	-8	NUM
cjfa-10416	331	24	)	)	PUNCT
cjfa-10416	331	25	,	,	PUNCT
cjfa-10416	331	26	from	from	ADP
cjfa-10416	331	27	that	that	DET
cjfa-10416	331	28	point	point	NOUN
cjfa-10416	331	29	on	on	ADP
cjfa-10416	331	30	until	until	ADP
cjfa-10416	331	31	the	the	DET
cjfa-10416	331	32	-0,0600	-0,0600	PROPN
cjfa-10416	331	33	-0,0400	-0,0400	PROPN
cjfa-10416	331	34	-0,0200	-0,0200	PROPN
cjfa-10416	332	1	0,0000	0,0000	PRON
cjfa-10416	332	2	0,0200	0,0200	NOUN
cjfa-10416	333	1	0,0400	0,0400	NOUN
cjfa-10416	333	2	0,0600	0,0600	VERB
cjfa-10416	333	3	0,0800	0,0800	ADJ
cjfa-10416	333	4	0,1000	0,1000	NUM
cjfa-10416	334	1	-6	-6	ADP
cjfa-10416	334	2	-5	-5	INTJ
cjfa-10416	334	3	-4	-4	INTJ
cjfa-10416	334	4	-3	-3	INTJ
cjfa-10416	334	5	-2	-2	INTJ
cjfa-10416	334	6	-1	-1	NOUN
cjfa-10416	334	7	0	0	PUNCT
cjfa-10416	335	1	+1	+1	ADJ
cjfa-10416	335	2	+2	+2	PROPN
cjfa-10416	335	3	+3	+3	PROPN
cjfa-10416	335	4	+4	+4	PROPN
cjfa-10416	336	1	+5	+5	PROPN
cjfa-10416	336	2	weeks	week	NOUN
cjfa-10416	336	3	(	(	PUNCT
cjfa-10416	336	4	announcement	announcement	NOUN
cjfa-10416	336	5	period	period	NOUN
cjfa-10416	336	6	)	)	PUNCT
cjfa-10416	336	7	caar	caar	NOUN
cjfa-10416	336	8	+	+	CCONJ
cjfa-10416	336	9	caar	caar	NOUN
cjfa-10416	336	10	0,0000	0,0000	NUM
cjfa-10416	336	11	0,0200	0,0200	NOUN
cjfa-10416	336	12	0,0400	0,0400	NOUN
cjfa-10416	336	13	0,0600	0,0600	VERB
cjfa-10416	336	14	0,0800	0,0800	ADJ
cjfa-10416	336	15	0,1000	0,1000	NUM
cjfa-10416	337	1	0,1200	0,1200	NOUN
cjfa-10416	337	2	0,1400	0,1400	NOUN
cjfa-10416	337	3	weeks	week	NOUN
cjfa-10416	337	4	s	s	PART
cjfa-10416	337	5	o	o	NOUN
cjfa-10416	337	6	u	u	NOUN
cjfa-10416	337	7	r	r	NOUN
cjfa-10416	337	8	c	c	NOUN
cjfa-10416	337	9	e	e	NOUN
cjfa-10416	337	10	:	:	PUNCT
cjfa-10416	337	11	elaboration	elaboration	NOUN
cjfa-10416	337	12	of	of	ADP
cjfa-10416	337	13	the	the	DET
cjfa-10416	337	14	author	author	NOUN
cjfa-10416	337	15	.	.	PUNCT
cjfa-10416	338	1	graph	graph	NOUN
cjfa-10416	338	2	3	3	NUM
cjfa-10416	338	3	shows	show	VERB
cjfa-10416	338	4	the	the	DET
cjfa-10416	338	5	consolidated	consolidated	ADJ
cjfa-10416	338	6	effect	effect	NOUN
cjfa-10416	338	7	of	of	ADP
cjfa-10416	338	8	the	the	DET
cjfa-10416	338	9	previously	previously	ADV
cjfa-10416	338	10	shown	show	VERB
cjfa-10416	338	11	graphs	graph	NOUN
cjfa-10416	338	12	1	1	NUM
cjfa-10416	338	13	and	and	CCONJ
cjfa-10416	338	14	2	2	NUM
cjfa-10416	338	15	,	,	PUNCT
cjfa-10416	338	16	denoting	denote	VERB
cjfa-10416	338	17	a	a	DET
cjfa-10416	338	18	strong	strong	ADJ
cjfa-10416	338	19	influence	influence	NOUN
cjfa-10416	338	20	of	of	ADP
cjfa-10416	338	21	the	the	DET
cjfa-10416	338	22	companies	company	NOUN
cjfa-10416	338	23	involved	involve	VERB
cjfa-10416	338	24	and	and	CCONJ
cjfa-10416	338	25	greater	great	ADJ
cjfa-10416	338	26	amplitude	amplitude	NOUN
cjfa-10416	338	27	of	of	ADP
cjfa-10416	338	28	the	the	DET
cjfa-10416	338	29	target	target	NOUN
cjfa-10416	338	30	companies	company	NOUN
cjfa-10416	338	31	’	'	PUNCT
cjfa-10416	338	32	obtained	obtain	VERB
cjfa-10416	338	33	earnings	earning	NOUN
cjfa-10416	338	34	.	.	PUNCT
cjfa-10416	339	1	in	in	ADP
cjfa-10416	339	2	relation	relation	NOUN
cjfa-10416	339	3	to	to	ADP
cjfa-10416	339	4	the	the	DET
cjfa-10416	339	5	12	12	NUM
cjfa-10416	339	6	bids	bid	NOUN
cjfa-10416	339	7	studied	study	VERB
cjfa-10416	339	8	,	,	PUNCT
cjfa-10416	339	9	the	the	DET
cjfa-10416	339	10	aar	aar	NOUN
cjfa-10416	339	11	’s	’s	PART
cjfa-10416	339	12	cumulated	cumulated	ADJ
cjfa-10416	339	13	earnings	earning	NOUN
cjfa-10416	339	14	of	of	ADP
cjfa-10416	339	15	+8.60	+8.60	PROPN
cjfa-10416	339	16	%	%	NOUN
cjfa-10416	339	17	and	and	CCONJ
cjfa-10416	339	18	losses	loss	NOUN
cjfa-10416	339	19	of	of	ADP
cjfa-10416	339	20	-5.29	-5.29	NOUN
cjfa-10416	339	21	%	%	NOUN
cjfa-10416	339	22	close	close	ADJ
cjfa-10416	339	23	to	to	ADP
cjfa-10416	339	24	the	the	DET
cjfa-10416	339	25	period	period	NOUN
cjfa-10416	339	26	of	of	ADP
cjfa-10416	339	27	the	the	DET
cjfa-10416	339	28	preliminary	preliminary	ADJ
cjfa-10416	339	29	announcement	announcement	NOUN
cjfa-10416	339	30	.	.	PUNCT
cjfa-10416	340	1	graph	graph	NOUN
cjfa-10416	340	2	4	4	NUM
cjfa-10416	340	3	.	.	PUNCT
cjfa-10416	340	4	cumulated	cumulate	VERB
cjfa-10416	340	5	average	average	ADJ
cjfa-10416	340	6	(	(	PUNCT
cjfa-10416	340	7	log	log	NOUN
cjfa-10416	340	8	)	)	PUNCT
cjfa-10416	340	9	abnormal	abnormal	ADJ
cjfa-10416	340	10	returns	return	NOUN
cjfa-10416	340	11	(	(	PUNCT
cjfa-10416	340	12	ball	ball	NOUN
cjfa-10416	340	13	&	&	CCONJ
cjfa-10416	340	14	brown	brown	PROPN
cjfa-10416	340	15	)	)	PUNCT
cjfa-10416	340	16	–	–	PUNCT
cjfa-10416	341	1	companies	company	NOUN
cjfa-10416	341	2	involved	involve	VERB
cjfa-10416	341	3	graph	graph	NOUN
cjfa-10416	341	4	3	3	NUM
cjfa-10416	341	5	.	.	PUNCT
cjfa-10416	341	6	cumulated	cumulated	ADJ
cjfa-10416	341	7	average	average	ADJ
cjfa-10416	341	8	(	(	PUNCT
cjfa-10416	341	9	log	log	NOUN
cjfa-10416	341	10	)	)	PUNCT
cjfa-10416	341	11	abnormal	abnormal	ADJ
cjfa-10416	341	12	returns	return	NOUN
cjfa-10416	341	13	(	(	PUNCT
cjfa-10416	341	14	ball	ball	NOUN
cjfa-10416	341	15	&	&	CCONJ
cjfa-10416	341	16	brown	brown	PROPN
cjfa-10416	341	17	)	)	PUNCT
cjfa-10416	341	18	–	–	PUNCT
cjfa-10416	341	19	companies	company	NOUN
cjfa-10416	341	20	involved	involve	VERB
cjfa-10416	341	21	source	source	NOUN
cjfa-10416	341	22	:	:	PUNCT
cjfa-10416	341	23	elaboration	elaboration	NOUN
cjfa-10416	341	24	of	of	ADP
cjfa-10416	341	25	the	the	DET
cjfa-10416	341	26	author	author	NOUN
cjfa-10416	341	27	.	.	PUNCT
cjfa-10416	342	1	graph	graph	NOUN
cjfa-10416	342	2	3	3	NUM
cjfa-10416	342	3	shows	show	VERB
cjfa-10416	342	4	the	the	DET
cjfa-10416	342	5	consolidated	consolidated	ADJ
cjfa-10416	342	6	effect	effect	NOUN
cjfa-10416	342	7	of	of	ADP
cjfa-10416	342	8	the	the	DET
cjfa-10416	342	9	previously	previously	ADV
cjfa-10416	342	10	shown	show	VERB
cjfa-10416	342	11	graphs	graph	NOUN
cjfa-10416	342	12	1	1	NUM
cjfa-10416	342	13	and	and	CCONJ
cjfa-10416	342	14	2	2	NUM
cjfa-10416	342	15	,	,	PUNCT
cjfa-10416	342	16	denoting	denote	VERB
cjfa-10416	342	17	a	a	DET
cjfa-10416	342	18	strong	strong	ADJ
cjfa-10416	342	19	influence	influence	NOUN
cjfa-10416	342	20	of	of	ADP
cjfa-10416	342	21	the	the	DET
cjfa-10416	342	22	companies	company	NOUN
cjfa-10416	342	23	involved	involve	VERB
cjfa-10416	342	24	and	and	CCONJ
cjfa-10416	342	25	greater	great	ADJ
cjfa-10416	342	26	amplitude	amplitude	NOUN
cjfa-10416	342	27	of	of	ADP
cjfa-10416	342	28	the	the	DET
cjfa-10416	342	29	target	target	NOUN
cjfa-10416	342	30	companies	company	NOUN
cjfa-10416	342	31	’	'	PUNCT
cjfa-10416	342	32	obtained	obtain	VERB
cjfa-10416	342	33	earnings	earning	NOUN
cjfa-10416	342	34	.	.	PUNCT
cjfa-10416	343	1	in	in	ADP
cjfa-10416	343	2	relation	relation	NOUN
cjfa-10416	343	3	to	to	ADP
cjfa-10416	343	4	the	the	DET
cjfa-10416	343	5	12	12	NUM
cjfa-10416	343	6	bids	bid	NOUN
cjfa-10416	343	7	studied	study	VERB
cjfa-10416	343	8	,	,	PUNCT
cjfa-10416	343	9	the	the	DET
cjfa-10416	343	10	aar	aar	NOUN
cjfa-10416	343	11	’s	’s	PART
cjfa-10416	343	12	cumulated	cumulated	ADJ
cjfa-10416	343	13	earnings	earning	NOUN
cjfa-10416	343	14	of	of	ADP
cjfa-10416	343	15	+8.60	+8.60	PROPN
cjfa-10416	343	16	%	%	NOUN
cjfa-10416	343	17	and	and	CCONJ
cjfa-10416	343	18	losses	loss	NOUN
cjfa-10416	343	19	of	of	ADP
cjfa-10416	343	20	-5.29	-5.29	NOUN
cjfa-10416	343	21	%	%	NOUN
cjfa-10416	343	22	close	close	ADJ
cjfa-10416	343	23	to	to	ADP
cjfa-10416	343	24	the	the	DET
cjfa-10416	343	25	period	period	NOUN
cjfa-10416	343	26	of	of	ADP
cjfa-10416	343	27	the	the	DET
cjfa-10416	343	28	preliminary	preliminary	ADJ
cjfa-10416	343	29	announcement	announcement	NOUN
cjfa-10416	343	30	.	.	PUNCT
cjfa-10416	344	1	graph	graph	NOUN
cjfa-10416	344	2	4	4	NUM
cjfa-10416	344	3	.	.	PUNCT
cjfa-10416	344	4	cumulated	cumulate	VERB
cjfa-10416	344	5	average	average	ADJ
cjfa-10416	344	6	(	(	PUNCT
cjfa-10416	344	7	log	log	NOUN
cjfa-10416	344	8	)	)	PUNCT
cjfa-10416	344	9	abnormal	abnormal	ADJ
cjfa-10416	344	10	returns	return	NOUN
cjfa-10416	344	11	(	(	PUNCT
cjfa-10416	344	12	ball	ball	NOUN
cjfa-10416	344	13	&	&	CCONJ
cjfa-10416	344	14	brown	brown	PROPN
cjfa-10416	344	15	)	)	PUNCT
cjfa-10416	344	16	–	–	PUNCT
cjfa-10416	344	17	companies	company	NOUN
cjfa-10416	344	18	involved	involve	VERB
cjfa-10416	344	19	source	source	NOUN
cjfa-10416	344	20	:	:	PUNCT
cjfa-10416	344	21	elaboration	elaboration	NOUN
cjfa-10416	344	22	of	of	ADP
cjfa-10416	344	23	the	the	DET
cjfa-10416	344	24	author	author	NOUN
cjfa-10416	344	25	.	.	PUNCT
cjfa-10416	345	1	graph	graph	NOUN
cjfa-10416	345	2	4	4	NUM
cjfa-10416	345	3	confirms	confirm	VERB
cjfa-10416	345	4	the	the	DET
cjfa-10416	345	5	strong	strong	ADJ
cjfa-10416	345	6	behavior	behavior	NOUN
cjfa-10416	345	7	changes	change	NOUN
cjfa-10416	345	8	of	of	ADP
cjfa-10416	345	9	the	the	DET
cjfa-10416	345	10	stock	stock	NOUN
cjfa-10416	345	11	prices	price	NOUN
cjfa-10416	345	12	of	of	ADP
cjfa-10416	345	13	the	the	DET
cjfa-10416	345	14	companies	company	NOUN
cjfa-10416	345	15	involved	involve	VERB
cjfa-10416	345	16	in	in	ADP
cjfa-10416	345	17	takeover	takeover	NOUN
cjfa-10416	345	18	bids	bid	NOUN
cjfa-10416	345	19	.	.	PUNCT
cjfa-10416	346	1	in	in	ADP
cjfa-10416	346	2	the	the	DET
cjfa-10416	346	3	previous	previous	ADJ
cjfa-10416	346	4	phase	phase	NOUN
cjfa-10416	346	5	of	of	ADP
cjfa-10416	346	6	the	the	DET
cjfa-10416	346	7	preliminary	preliminary	ADJ
cjfa-10416	346	8	announcement	announcement	NOUN
cjfa-10416	346	9	,	,	PUNCT
cjfa-10416	346	10	the	the	DET
cjfa-10416	346	11	tendency	tendency	NOUN
cjfa-10416	346	12	is	be	AUX
cjfa-10416	346	13	to	to	PART
cjfa-10416	346	14	grow	grow	VERB
cjfa-10416	346	15	until	until	ADP
cjfa-10416	346	16	the	the	DET
cjfa-10416	346	17	first	first	ADJ
cjfa-10416	346	18	“	"	PUNCT
cjfa-10416	346	19	peak	peak	NOUN
cjfa-10416	346	20	”	"	PUNCT
cjfa-10416	346	21	(	(	PUNCT
cjfa-10416	346	22	week	week	NOUN
cjfa-10416	346	23	-8	-8	NUM
cjfa-10416	346	24	)	)	PUNCT
cjfa-10416	346	25	,	,	PUNCT
cjfa-10416	346	26	from	from	ADP
cjfa-10416	346	27	that	that	DET
cjfa-10416	346	28	point	point	NOUN
cjfa-10416	346	29	on	on	ADP
cjfa-10416	346	30	until	until	ADP
cjfa-10416	346	31	the	the	DET
cjfa-10416	346	32	-0,0600	-0,0600	PROPN
cjfa-10416	346	33	-0,0400	-0,0400	PROPN
cjfa-10416	346	34	-0,0200	-0,0200	PROPN
cjfa-10416	347	1	0,0000	0,0000	PRON
cjfa-10416	347	2	0,0200	0,0200	NOUN
cjfa-10416	348	1	0,0400	0,0400	NOUN
cjfa-10416	348	2	0,0600	0,0600	VERB
cjfa-10416	348	3	0,0800	0,0800	ADJ
cjfa-10416	348	4	0,1000	0,1000	NUM
cjfa-10416	349	1	-6	-6	ADP
cjfa-10416	349	2	-5	-5	INTJ
cjfa-10416	349	3	-4	-4	INTJ
cjfa-10416	349	4	-3	-3	INTJ
cjfa-10416	349	5	-2	-2	INTJ
cjfa-10416	349	6	-1	-1	NOUN
cjfa-10416	349	7	0	0	PUNCT
cjfa-10416	350	1	+1	+1	ADJ
cjfa-10416	350	2	+2	+2	PROPN
cjfa-10416	350	3	+3	+3	PROPN
cjfa-10416	350	4	+4	+4	PROPN
cjfa-10416	351	1	+5	+5	PROPN
cjfa-10416	351	2	weeks	week	NOUN
cjfa-10416	351	3	(	(	PUNCT
cjfa-10416	351	4	announcement	announcement	NOUN
cjfa-10416	351	5	period	period	NOUN
cjfa-10416	351	6	)	)	PUNCT
cjfa-10416	351	7	caar	caar	NOUN
cjfa-10416	351	8	+	+	CCONJ
cjfa-10416	351	9	caar	caar	NOUN
cjfa-10416	351	10	0,0000	0,0000	NUM
cjfa-10416	351	11	0,0200	0,0200	NOUN
cjfa-10416	351	12	0,0400	0,0400	NOUN
cjfa-10416	351	13	0,0600	0,0600	VERB
cjfa-10416	351	14	0,0800	0,0800	ADJ
cjfa-10416	351	15	0,1000	0,1000	NUM
cjfa-10416	352	1	0,1200	0,1200	NOUN
cjfa-10416	352	2	0,1400	0,1400	NOUN
cjfa-10416	352	3	weeks	week	NOUN
cjfa-10416	352	4	s	s	PART
cjfa-10416	352	5	o	o	NOUN
cjfa-10416	352	6	u	u	NOUN
cjfa-10416	352	7	r	r	NOUN
cjfa-10416	352	8	c	c	NOUN
cjfa-10416	352	9	e	e	NOUN
cjfa-10416	352	10	:	:	PUNCT
cjfa-10416	352	11	elaboration	elaboration	NOUN
cjfa-10416	352	12	of	of	ADP
cjfa-10416	352	13	the	the	DET
cjfa-10416	352	14	author	author	NOUN
cjfa-10416	352	15	.	.	PUNCT
cjfa-10416	353	1	graph	graph	NOUN
cjfa-10416	353	2	4	4	NUM
cjfa-10416	353	3	confirms	confirm	VERB
cjfa-10416	353	4	the	the	DET
cjfa-10416	353	5	strong	strong	ADJ
cjfa-10416	353	6	behavior	behavior	NOUN
cjfa-10416	353	7	changes	change	NOUN
cjfa-10416	353	8	of	of	ADP
cjfa-10416	353	9	the	the	DET
cjfa-10416	353	10	stock	stock	NOUN
cjfa-10416	353	11	prices	price	NOUN
cjfa-10416	353	12	of	of	ADP
cjfa-10416	353	13	the	the	DET
cjfa-10416	353	14	companies	company	NOUN
cjfa-10416	353	15	involved	involve	VERB
cjfa-10416	353	16	in	in	ADP
cjfa-10416	353	17	takeover	takeover	NOUN
cjfa-10416	353	18	bids	bid	NOUN
cjfa-10416	353	19	.	.	PUNCT
cjfa-10416	354	1	in	in	ADP
cjfa-10416	354	2	the	the	DET
cjfa-10416	354	3	previous	previous	ADJ
cjfa-10416	354	4	phase	phase	NOUN
cjfa-10416	354	5	of	of	ADP
cjfa-10416	354	6	the	the	DET
cjfa-10416	354	7	preliminary	preliminary	ADJ
cjfa-10416	354	8	the	the	DET
cjfa-10416	354	9	impact	impact	NOUN
cjfa-10416	354	10	of	of	ADP
cjfa-10416	354	11	the	the	DET
cjfa-10416	354	12	preliminary	preliminary	ADJ
cjfa-10416	354	13	announcement	announcement	NOUN
cjfa-10416	354	14	…	…	PUNCT
cjfa-10416	354	15	55	55	NUM
cjfa-10416	354	16	announcement	announcement	NOUN
cjfa-10416	354	17	,	,	PUNCT
cjfa-10416	354	18	the	the	DET
cjfa-10416	354	19	tendency	tendency	NOUN
cjfa-10416	354	20	is	be	AUX
cjfa-10416	354	21	to	to	PART
cjfa-10416	354	22	grow	grow	VERB
cjfa-10416	354	23	until	until	ADP
cjfa-10416	354	24	the	the	DET
cjfa-10416	354	25	first	first	ADJ
cjfa-10416	354	26	“	"	PUNCT
cjfa-10416	354	27	peak	peak	NOUN
cjfa-10416	354	28	”	"	PUNCT
cjfa-10416	354	29	(	(	PUNCT
cjfa-10416	354	30	week	week	NOUN
cjfa-10416	354	31	-8	-8	NUM
cjfa-10416	354	32	)	)	PUNCT
cjfa-10416	354	33	,	,	PUNCT
cjfa-10416	354	34	from	from	ADP
cjfa-10416	354	35	that	that	DET
cjfa-10416	354	36	point	point	NOUN
cjfa-10416	354	37	on	on	ADP
cjfa-10416	354	38	until	until	SCONJ
cjfa-10416	354	39	the	the	DET
cjfa-10416	354	40	preliminary	preliminary	ADJ
cjfa-10416	354	41	announcement	announcement	NOUN
cjfa-10416	354	42	(	(	PUNCT
cjfa-10416	354	43	week	week	NOUN
cjfa-10416	354	44	0	0	NUM
cjfa-10416	354	45	)	)	PUNCT
cjfa-10416	354	46	the	the	DET
cjfa-10416	354	47	tendency	tendency	NOUN
cjfa-10416	354	48	is	be	AUX
cjfa-10416	354	49	to	to	PART
cjfa-10416	354	50	diminish	diminish	VERB
cjfa-10416	354	51	.	.	PUNCT
cjfa-10416	355	1	at	at	ADP
cjfa-10416	355	2	that	that	DET
cjfa-10416	355	3	moment	moment	NOUN
cjfa-10416	355	4	,	,	PUNCT
cjfa-10416	355	5	the	the	DET
cjfa-10416	355	6	aar	aar	NOUN
cjfa-10416	355	7	’s	’s	PART
cjfa-10416	355	8	invert	invert	NOUN
cjfa-10416	355	9	substantially	substantially	ADV
cjfa-10416	355	10	the	the	DET
cjfa-10416	355	11	tendency	tendency	NOUN
cjfa-10416	355	12	,	,	PUNCT
cjfa-10416	355	13	growing	grow	VERB
cjfa-10416	355	14	until	until	ADP
cjfa-10416	355	15	the	the	DET
cjfa-10416	355	16	week	week	NOUN
cjfa-10416	355	17	+2	+2	PROPN
cjfa-10416	355	18	,	,	PUNCT
cjfa-10416	355	19	cumulating	cumulate	VERB
cjfa-10416	355	20	abnormal	abnormal	ADJ
cjfa-10416	355	21	earnings	earning	NOUN
cjfa-10416	355	22	of	of	ADP
cjfa-10416	355	23	11.93	11.93	NUM
cjfa-10416	355	24	%	%	NOUN
cjfa-10416	355	25	.	.	PUNCT
cjfa-10416	356	1	after	after	ADP
cjfa-10416	356	2	this	this	PRON
cjfa-10416	356	3	,	,	PUNCT
cjfa-10416	356	4	they	they	PRON
cjfa-10416	356	5	diminish	diminish	VERB
cjfa-10416	356	6	until	until	ADP
cjfa-10416	356	7	week	week	NOUN
cjfa-10416	356	8	+7	+7	PROPN
cjfa-10416	356	9	,	,	PUNCT
cjfa-10416	356	10	oscillating	oscillate	VERB
cjfa-10416	356	11	in	in	ADP
cjfa-10416	356	12	value	value	NOUN
cjfa-10416	356	13	from	from	ADP
cjfa-10416	356	14	+6.59	+6.59	PROPN
cjfa-10416	356	15	%	%	NOUN
cjfa-10416	356	16	to	to	ADP
cjfa-10416	356	17	+9.39	+9.39	NOUN
cjfa-10416	356	18	%	%	NOUN
cjfa-10416	356	19	.	.	PUNCT
cjfa-10416	357	1	this	this	DET
cjfa-10416	357	2	performance	performance	NOUN
cjfa-10416	357	3	also	also	ADV
cjfa-10416	357	4	verifies	verify	VERB
cjfa-10416	357	5	that	that	SCONJ
cjfa-10416	357	6	the	the	DET
cjfa-10416	357	7	preliminary	preliminary	ADJ
cjfa-10416	357	8	announcement	announcement	NOUN
cjfa-10416	357	9	of	of	ADP
cjfa-10416	357	10	the	the	DET
cjfa-10416	357	11	takeover	takeover	NOUN
cjfa-10416	357	12	bid	bid	NOUN
cjfa-10416	357	13	has	have	VERB
cjfa-10416	357	14	a	a	DET
cjfa-10416	357	15	great	great	ADJ
cjfa-10416	357	16	impact	impact	NOUN
cjfa-10416	357	17	on	on	ADP
cjfa-10416	357	18	the	the	DET
cjfa-10416	357	19	stock	stock	NOUN
cjfa-10416	357	20	prices	price	NOUN
cjfa-10416	357	21	of	of	ADP
cjfa-10416	357	22	the	the	DET
cjfa-10416	357	23	companies	company	NOUN
cjfa-10416	357	24	involved	involve	VERB
cjfa-10416	357	25	and	and	CCONJ
cjfa-10416	357	26	corroborates	corroborate	VERB
cjfa-10416	357	27	the	the	DET
cjfa-10416	357	28	conclusions	conclusion	NOUN
cjfa-10416	357	29	of	of	ADP
cjfa-10416	357	30	ball	ball	NOUN
cjfa-10416	357	31	and	and	CCONJ
cjfa-10416	357	32	brown	brown	ADJ
cjfa-10416	357	33	(	(	PUNCT
cjfa-10416	357	34	1968	1968	NUM
cjfa-10416	357	35	)	)	PUNCT
cjfa-10416	357	36	.	.	PUNCT
cjfa-10416	358	1	model	model	NOUN
cjfa-10416	358	2	#	#	SYM
cjfa-10416	358	3	2	2	NUM
cjfa-10416	358	4	–	–	PUNCT
cjfa-10416	358	5	beaver	beaver	NOUN
cjfa-10416	358	6	:	:	PUNCT
cjfa-10416	358	7	using	use	VERB
cjfa-10416	358	8	the	the	DET
cjfa-10416	358	9	beaver	beaver	NOUN
cjfa-10416	358	10	(	(	PUNCT
cjfa-10416	358	11	1968	1968	NUM
cjfa-10416	358	12	)	)	PUNCT
cjfa-10416	358	13	model	model	NOUN
cjfa-10416	358	14	,	,	PUNCT
cjfa-10416	358	15	graph	graph	NOUN
cjfa-10416	358	16	5	5	NUM
cjfa-10416	358	17	shows	show	VERB
cjfa-10416	358	18	the	the	DET
cjfa-10416	358	19	reaction	reaction	NOUN
cjfa-10416	358	20	of	of	ADP
cjfa-10416	358	21	the	the	DET
cjfa-10416	358	22	average	average	ADJ
cjfa-10416	358	23	abnormal	abnormal	ADJ
cjfa-10416	358	24	returns	return	NOUN
cjfa-10416	358	25	in	in	ADP
cjfa-10416	358	26	the	the	DET
cjfa-10416	358	27	period	period	NOUN
cjfa-10416	358	28	close	close	ADV
cjfa-10416	358	29	to	to	ADP
cjfa-10416	358	30	the	the	DET
cjfa-10416	358	31	preliminary	preliminary	ADJ
cjfa-10416	358	32	announcement	announcement	NOUN
cjfa-10416	358	33	of	of	ADP
cjfa-10416	358	34	the	the	DET
cjfa-10416	358	35	takeover	takeover	NOUN
cjfa-10416	358	36	bid	bid	NOUN
cjfa-10416	358	37	for	for	ADP
cjfa-10416	358	38	acquiring	acquire	VERB
cjfa-10416	358	39	companies	company	NOUN
cjfa-10416	358	40	:	:	PUNCT
cjfa-10416	358	41	graph	graph	VERB
cjfa-10416	358	42	5	5	NUM
cjfa-10416	358	43	.	.	PUNCT
cjfa-10416	359	1	reaction	reaction	NOUN
cjfa-10416	359	2	of	of	ADP
cjfa-10416	359	3	the	the	DET
cjfa-10416	359	4	average	average	ADJ
cjfa-10416	359	5	abnormal	abnormal	ADJ
cjfa-10416	359	6	(	(	PUNCT
cjfa-10416	359	7	log	log	NOUN
cjfa-10416	359	8	)	)	PUNCT
cjfa-10416	359	9	returns	return	NOUN
cjfa-10416	359	10	(	(	PUNCT
cjfa-10416	359	11	beaver	beaver	NOUN
cjfa-10416	359	12	)	)	PUNCT
cjfa-10416	359	13	–	–	PUNCT
cjfa-10416	359	14	acquiring	acquire	VERB
cjfa-10416	359	15	companies	company	NOUN
cjfa-10416	359	16	preliminary	preliminary	ADJ
cjfa-10416	359	17	announcement	announcement	NOUN
cjfa-10416	359	18	(	(	PUNCT
cjfa-10416	359	19	week	week	NOUN
cjfa-10416	359	20	0	0	NUM
cjfa-10416	359	21	)	)	PUNCT
cjfa-10416	359	22	the	the	DET
cjfa-10416	359	23	tendency	tendency	NOUN
cjfa-10416	359	24	is	be	AUX
cjfa-10416	359	25	to	to	PART
cjfa-10416	359	26	diminish	diminish	VERB
cjfa-10416	359	27	.	.	PUNCT
cjfa-10416	360	1	at	at	ADP
cjfa-10416	360	2	that	that	DET
cjfa-10416	360	3	moment	moment	NOUN
cjfa-10416	360	4	,	,	PUNCT
cjfa-10416	360	5	the	the	DET
cjfa-10416	360	6	aar	aar	NOUN
cjfa-10416	360	7	’s	’s	PART
cjfa-10416	360	8	invert	invert	NOUN
cjfa-10416	360	9	substantially	substantially	ADV
cjfa-10416	360	10	the	the	DET
cjfa-10416	360	11	tendency	tendency	NOUN
cjfa-10416	360	12	,	,	PUNCT
cjfa-10416	360	13	growing	grow	VERB
cjfa-10416	360	14	until	until	ADP
cjfa-10416	360	15	the	the	DET
cjfa-10416	360	16	week	week	NOUN
cjfa-10416	360	17	+2	+2	PROPN
cjfa-10416	360	18	,	,	PUNCT
cjfa-10416	360	19	cumulating	cumulate	VERB
cjfa-10416	360	20	abnormal	abnormal	ADJ
cjfa-10416	360	21	earnings	earning	NOUN
cjfa-10416	360	22	of	of	ADP
cjfa-10416	360	23	11.93	11.93	NUM
cjfa-10416	360	24	%	%	NOUN
cjfa-10416	360	25	.	.	PUNCT
cjfa-10416	361	1	after	after	ADP
cjfa-10416	361	2	this	this	PRON
cjfa-10416	361	3	,	,	PUNCT
cjfa-10416	361	4	they	they	PRON
cjfa-10416	361	5	diminish	diminish	VERB
cjfa-10416	361	6	until	until	ADP
cjfa-10416	361	7	week	week	NOUN
cjfa-10416	361	8	+7	+7	PROPN
cjfa-10416	361	9	,	,	PUNCT
cjfa-10416	361	10	oscillating	oscillate	VERB
cjfa-10416	361	11	in	in	ADP
cjfa-10416	361	12	value	value	NOUN
cjfa-10416	361	13	from	from	ADP
cjfa-10416	361	14	+6.59	+6.59	PROPN
cjfa-10416	361	15	%	%	NOUN
cjfa-10416	361	16	to	to	ADP
cjfa-10416	361	17	+9.39	+9.39	NOUN
cjfa-10416	361	18	%	%	NOUN
cjfa-10416	361	19	.	.	PUNCT
cjfa-10416	362	1	this	this	DET
cjfa-10416	362	2	performance	performance	NOUN
cjfa-10416	362	3	also	also	ADV
cjfa-10416	362	4	verifies	verify	VERB
cjfa-10416	362	5	that	that	SCONJ
cjfa-10416	362	6	the	the	DET
cjfa-10416	362	7	preliminary	preliminary	ADJ
cjfa-10416	362	8	announcement	announcement	NOUN
cjfa-10416	362	9	of	of	ADP
cjfa-10416	362	10	the	the	DET
cjfa-10416	362	11	takeover	takeover	NOUN
cjfa-10416	362	12	bid	bid	NOUN
cjfa-10416	362	13	has	have	VERB
cjfa-10416	362	14	a	a	DET
cjfa-10416	362	15	great	great	ADJ
cjfa-10416	362	16	impact	impact	NOUN
cjfa-10416	362	17	on	on	ADP
cjfa-10416	362	18	the	the	DET
cjfa-10416	362	19	stock	stock	NOUN
cjfa-10416	362	20	prices	price	NOUN
cjfa-10416	362	21	of	of	ADP
cjfa-10416	362	22	the	the	DET
cjfa-10416	362	23	companies	company	NOUN
cjfa-10416	362	24	involved	involve	VERB
cjfa-10416	362	25	and	and	CCONJ
cjfa-10416	362	26	corroborates	corroborate	VERB
cjfa-10416	362	27	the	the	DET
cjfa-10416	362	28	conclusions	conclusion	NOUN
cjfa-10416	362	29	of	of	ADP
cjfa-10416	362	30	ball	ball	NOUN
cjfa-10416	362	31	and	and	CCONJ
cjfa-10416	362	32	brown	brown	ADJ
cjfa-10416	362	33	(	(	PUNCT
cjfa-10416	362	34	1968	1968	NUM
cjfa-10416	362	35	)	)	PUNCT
cjfa-10416	362	36	.	.	PUNCT
cjfa-10416	363	1	model	model	NOUN
cjfa-10416	363	2	#	#	SYM
cjfa-10416	363	3	2	2	NUM
cjfa-10416	363	4	–	–	PUNCT
cjfa-10416	363	5	beaver	beaver	NOUN
cjfa-10416	363	6	:	:	PUNCT
cjfa-10416	363	7	using	use	VERB
cjfa-10416	363	8	the	the	DET
cjfa-10416	363	9	beaver	beaver	NOUN
cjfa-10416	363	10	(	(	PUNCT
cjfa-10416	363	11	1968	1968	NUM
cjfa-10416	363	12	)	)	PUNCT
cjfa-10416	363	13	model	model	NOUN
cjfa-10416	363	14	,	,	PUNCT
cjfa-10416	363	15	graph	graph	NOUN
cjfa-10416	363	16	5	5	NUM
cjfa-10416	363	17	shows	show	VERB
cjfa-10416	363	18	the	the	DET
cjfa-10416	363	19	reaction	reaction	NOUN
cjfa-10416	363	20	of	of	ADP
cjfa-10416	363	21	the	the	DET
cjfa-10416	363	22	average	average	ADJ
cjfa-10416	363	23	abnormal	abnormal	ADJ
cjfa-10416	363	24	returns	return	NOUN
cjfa-10416	363	25	in	in	ADP
cjfa-10416	363	26	the	the	DET
cjfa-10416	363	27	period	period	NOUN
cjfa-10416	363	28	close	close	ADV
cjfa-10416	363	29	to	to	ADP
cjfa-10416	363	30	the	the	DET
cjfa-10416	363	31	preliminary	preliminary	ADJ
cjfa-10416	363	32	announcement	announcement	NOUN
cjfa-10416	363	33	of	of	ADP
cjfa-10416	363	34	the	the	DET
cjfa-10416	363	35	takeover	takeover	NOUN
cjfa-10416	363	36	bid	bid	NOUN
cjfa-10416	363	37	for	for	ADP
cjfa-10416	363	38	acquiring	acquire	VERB
cjfa-10416	363	39	companies	company	NOUN
cjfa-10416	363	40	:	:	PUNCT
cjfa-10416	363	41	graph	graph	VERB
cjfa-10416	363	42	5	5	NUM
cjfa-10416	363	43	.	.	PUNCT
cjfa-10416	364	1	reaction	reaction	NOUN
cjfa-10416	364	2	of	of	ADP
cjfa-10416	364	3	the	the	DET
cjfa-10416	364	4	average	average	ADJ
cjfa-10416	364	5	abnormal	abnormal	ADJ
cjfa-10416	364	6	(	(	PUNCT
cjfa-10416	364	7	log	log	NOUN
cjfa-10416	364	8	)	)	PUNCT
cjfa-10416	364	9	returns	return	NOUN
cjfa-10416	364	10	(	(	PUNCT
cjfa-10416	364	11	beaver	beaver	NOUN
cjfa-10416	364	12	)	)	PUNCT
cjfa-10416	364	13	–	–	PUNCT
cjfa-10416	364	14	acquiring	acquire	VERB
cjfa-10416	364	15	companies	company	NOUN
cjfa-10416	364	16	source	source	NOUN
cjfa-10416	364	17	:	:	PUNCT
cjfa-10416	364	18	elaboration	elaboration	NOUN
cjfa-10416	364	19	of	of	ADP
cjfa-10416	364	20	the	the	DET
cjfa-10416	364	21	author	author	NOUN
cjfa-10416	364	22	.	.	PUNCT
cjfa-10416	365	1	the	the	DET
cjfa-10416	365	2	graph	graph	NOUN
cjfa-10416	365	3	shows	show	VERB
cjfa-10416	365	4	the	the	DET
cjfa-10416	365	5	reaction	reaction	NOUN
cjfa-10416	365	6	of	of	ADP
cjfa-10416	365	7	the	the	DET
cjfa-10416	365	8	average	average	ADJ
cjfa-10416	365	9	abnormal	abnormal	ADJ
cjfa-10416	365	10	returns	return	NOUN
cjfa-10416	365	11	of	of	ADP
cjfa-10416	365	12	the	the	DET
cjfa-10416	365	13	acquiring	acquire	VERB
cjfa-10416	365	14	companies	company	NOUN
cjfa-10416	365	15	,	,	PUNCT
cjfa-10416	365	16	characterized	characterize	VERB
cjfa-10416	365	17	by	by	ADP
cjfa-10416	365	18	an	an	DET
cjfa-10416	365	19	isolated	isolated	ADJ
cjfa-10416	365	20	“	"	PUNCT
cjfa-10416	365	21	peak	peak	NOUN
cjfa-10416	365	22	”	"	PUNCT
cjfa-10416	365	23	in	in	ADP
cjfa-10416	365	24	week	week	NOUN
cjfa-10416	365	25	+2	+2	PROPN
cjfa-10416	365	26	after	after	ADP
cjfa-10416	365	27	the	the	DET
cjfa-10416	365	28	disclosure	disclosure	NOUN
cjfa-10416	365	29	of	of	ADP
cjfa-10416	365	30	the	the	DET
cjfa-10416	365	31	takeover	takeover	NOUN
cjfa-10416	365	32	bid	bid	NOUN
cjfa-10416	365	33	.	.	PUNCT
cjfa-10416	366	1	this	this	DET
cjfa-10416	366	2	evidence	evidence	NOUN
cjfa-10416	366	3	shows	show	VERB
cjfa-10416	366	4	an	an	DET
cjfa-10416	366	5	existence	existence	NOUN
cjfa-10416	366	6	of	of	ADP
cjfa-10416	366	7	abnormal	abnormal	ADJ
cjfa-10416	366	8	activity	activity	NOUN
cjfa-10416	366	9	in	in	ADP
cjfa-10416	366	10	the	the	DET
cjfa-10416	366	11	period	period	NOUN
cjfa-10416	366	12	close	close	ADV
cjfa-10416	366	13	to	to	ADP
cjfa-10416	366	14	the	the	DET
cjfa-10416	366	15	preliminary	preliminary	ADJ
cjfa-10416	366	16	announcement	announcement	NOUN
cjfa-10416	366	17	date	date	NOUN
cjfa-10416	366	18	and	and	CCONJ
cjfa-10416	366	19	confirms	confirm	VERB
cjfa-10416	366	20	the	the	DET
cjfa-10416	366	21	working	work	VERB
cjfa-10416	366	22	hypothesis	hypothesis	NOUN
cjfa-10416	366	23	h4	h4	NOUN
cjfa-10416	366	24	mentioned	mention	VERB
cjfa-10416	366	25	before	before	ADV
cjfa-10416	366	26	.	.	PUNCT
cjfa-10416	367	1	the	the	DET
cjfa-10416	367	2	behavior	behavior	NOUN
cjfa-10416	367	3	is	be	AUX
cjfa-10416	367	4	due	due	ADJ
cjfa-10416	367	5	to	to	ADP
cjfa-10416	367	6	the	the	DET
cjfa-10416	367	7	performance	performance	NOUN
cjfa-10416	367	8	of	of	ADP
cjfa-10416	367	9	companies	company	NOUN
cjfa-10416	367	10	such	such	ADJ
cjfa-10416	367	11	as	as	ADP
cjfa-10416	367	12	cofina	cofina	PROPN
cjfa-10416	367	13	sgps	sgps	PROPN
cjfa-10416	367	14	,	,	PUNCT
cjfa-10416	367	15	sa	sa	PROPN
cjfa-10416	367	16	,	,	PUNCT
cjfa-10416	367	17	banco	banco	PROPN
cjfa-10416	367	18	bcp	bcp	PROPN
cjfa-10416	367	19	,	,	PUNCT
cjfa-10416	367	20	ptmultimédia	ptmultimédia	NOUN
cjfa-10416	367	21	sgps	sgps	PROPN
cjfa-10416	367	22	,	,	PUNCT
cjfa-10416	367	23	sa	sa	PROPN
cjfa-10416	367	24	,	,	PUNCT
cjfa-10416	367	25	sonaecom	sonaecom	PROPN
cjfa-10416	367	26	sgps	sgps	PROPN
cjfa-10416	367	27	,	,	PUNCT
cjfa-10416	367	28	sa	sa	PROPN
cjfa-10416	367	29	and	and	CCONJ
cjfa-10416	367	30	sonae	sonae	PROPN
cjfa-10416	367	31	sgps	sgps	PROPN
cjfa-10416	367	32	,	,	PUNCT
cjfa-10416	367	33	sa	sa	PROPN
cjfa-10416	367	34	.	.	PUNCT
cjfa-10416	368	1	later	later	ADV
cjfa-10416	368	2	,	,	PUNCT
cjfa-10416	368	3	in	in	ADP
cjfa-10416	368	4	week	week	NOUN
cjfa-10416	368	5	+2	+2	ADV
cjfa-10416	368	6	there	there	PRON
cjfa-10416	368	7	was	be	VERB
cjfa-10416	368	8	a	a	DET
cjfa-10416	368	9	new	new	ADJ
cjfa-10416	368	10	replica	replica	NOUN
cjfa-10416	368	11	,	,	PUNCT
cjfa-10416	368	12	but	but	CCONJ
cjfa-10416	368	13	of	of	ADP
cjfa-10416	368	14	inferior	inferior	ADJ
cjfa-10416	368	15	intensity	intensity	NOUN
cjfa-10416	368	16	.	.	PUNCT
cjfa-10416	369	1	0,0000	0,0000	NUM
cjfa-10416	369	2	0,5000	0,5000	NOUN
cjfa-10416	369	3	1,0000	1,0000	NUM
cjfa-10416	369	4	1,5000	1,5000	NUM
cjfa-10416	369	5	2,0000	2,0000	NUM
cjfa-10416	369	6	2,5000	2,5000	NUM
cjfa-10416	369	7	3,0000	3,0000	NUM
cjfa-10416	369	8	3,5000	3,5000	NUM
cjfa-10416	369	9	4,0000	4,0000	INTJ
cjfa-10416	369	10	4,5000	4,5000	NOUN
cjfa-10416	370	1	-5	-5	INTJ
cjfa-10416	370	2	-4	-4	INTJ
cjfa-10416	370	3	-3	-3	INTJ
cjfa-10416	370	4	-2	-2	INTJ
cjfa-10416	371	1	-1	-1	NOUN
cjfa-10416	371	2	0	0	PUNCT
cjfa-10416	372	1	+1	+1	ADJ
cjfa-10416	372	2	+2	+2	PROPN
cjfa-10416	372	3	+3	+3	PROPN
cjfa-10416	372	4	+4	+4	PROPN
cjfa-10416	373	1	+5	+5	PROPN
cjfa-10416	373	2	weeks	week	NOUN
cjfa-10416	373	3	(	(	PUNCT
cjfa-10416	373	4	announcement	announcement	NOUN
cjfa-10416	373	5	period	period	NOUN
cjfa-10416	373	6	)	)	PUNCT
cjfa-10416	373	7	s	s	PART
cjfa-10416	373	8	o	o	NOUN
cjfa-10416	373	9	u	u	NOUN
cjfa-10416	373	10	r	r	NOUN
cjfa-10416	373	11	c	c	NOUN
cjfa-10416	373	12	e	e	NOUN
cjfa-10416	373	13	:	:	PUNCT
cjfa-10416	373	14	elaboration	elaboration	NOUN
cjfa-10416	373	15	of	of	ADP
cjfa-10416	373	16	the	the	DET
cjfa-10416	373	17	author	author	NOUN
cjfa-10416	373	18	.	.	PUNCT
cjfa-10416	374	1	the	the	DET
cjfa-10416	374	2	graph	graph	NOUN
cjfa-10416	374	3	shows	show	VERB
cjfa-10416	374	4	the	the	DET
cjfa-10416	374	5	reaction	reaction	NOUN
cjfa-10416	374	6	of	of	ADP
cjfa-10416	374	7	the	the	DET
cjfa-10416	374	8	average	average	ADJ
cjfa-10416	374	9	abnormal	abnormal	ADJ
cjfa-10416	374	10	returns	return	NOUN
cjfa-10416	374	11	of	of	ADP
cjfa-10416	374	12	the	the	DET
cjfa-10416	374	13	acquiring	acquire	VERB
cjfa-10416	374	14	companies	company	NOUN
cjfa-10416	374	15	,	,	PUNCT
cjfa-10416	374	16	characterized	characterize	VERB
cjfa-10416	374	17	by	by	ADP
cjfa-10416	374	18	an	an	DET
cjfa-10416	374	19	isolated	isolated	ADJ
cjfa-10416	374	20	“	"	PUNCT
cjfa-10416	374	21	peak	peak	NOUN
cjfa-10416	374	22	”	"	PUNCT
cjfa-10416	374	23	in	in	ADP
cjfa-10416	374	24	week	week	NOUN
cjfa-10416	374	25	+2	+2	PROPN
cjfa-10416	374	26	after	after	ADP
cjfa-10416	374	27	the	the	DET
cjfa-10416	374	28	disclosure	disclosure	NOUN
cjfa-10416	374	29	of	of	ADP
cjfa-10416	374	30	the	the	DET
cjfa-10416	374	31	takeover	takeover	NOUN
cjfa-10416	374	32	bid	bid	NOUN
cjfa-10416	374	33	.	.	PUNCT
cjfa-10416	375	1	this	this	DET
cjfa-10416	375	2	evidence	evidence	NOUN
cjfa-10416	375	3	shows	show	VERB
cjfa-10416	375	4	an	an	DET
cjfa-10416	375	5	existence	existence	NOUN
cjfa-10416	375	6	of	of	ADP
cjfa-10416	375	7	abnormal	abnormal	ADJ
cjfa-10416	375	8	activity	activity	NOUN
cjfa-10416	375	9	in	in	ADP
cjfa-10416	375	10	the	the	DET
cjfa-10416	375	11	period	period	NOUN
cjfa-10416	375	12	close	close	ADV
cjfa-10416	375	13	to	to	ADP
cjfa-10416	375	14	the	the	DET
cjfa-10416	375	15	preliminary	preliminary	ADJ
cjfa-10416	375	16	announcement	announcement	NOUN
cjfa-10416	375	17	date	date	NOUN
cjfa-10416	375	18	and	and	CCONJ
cjfa-10416	375	19	confirms	confirm	VERB
cjfa-10416	375	20	the	the	DET
cjfa-10416	375	21	working	work	VERB
cjfa-10416	375	22	hypothesis	hypothesis	NOUN
cjfa-10416	375	23	h4	h4	NOUN
cjfa-10416	375	24	mentioned	mention	VERB
cjfa-10416	375	25	before	before	ADV
cjfa-10416	375	26	.	.	PUNCT
cjfa-10416	376	1	the	the	DET
cjfa-10416	376	2	behavior	behavior	NOUN
cjfa-10416	376	3	is	be	AUX
cjfa-10416	376	4	due	due	ADJ
cjfa-10416	376	5	to	to	ADP
cjfa-10416	376	6	the	the	DET
cjfa-10416	376	7	performance	performance	NOUN
cjfa-10416	376	8	of	of	ADP
cjfa-10416	376	9	companies	company	NOUN
cjfa-10416	376	10	such	such	ADJ
cjfa-10416	376	11	as	as	ADP
cjfa-10416	376	12	cofina	cofina	PROPN
cjfa-10416	376	13	sgps	sgps	PROPN
cjfa-10416	376	14	,	,	PUNCT
cjfa-10416	376	15	sa	sa	PROPN
cjfa-10416	376	16	,	,	PUNCT
cjfa-10416	376	17	banco	banco	PROPN
cjfa-10416	376	18	bcp	bcp	PROPN
cjfa-10416	376	19	,	,	PUNCT
cjfa-10416	376	20	ptmultimédia	ptmultimédia	NOUN
cjfa-10416	376	21	sgps	sgps	PROPN
cjfa-10416	376	22	,	,	PUNCT
cjfa-10416	376	23	sa	sa	PROPN
cjfa-10416	376	24	,	,	PUNCT
cjfa-10416	376	25	sonaecom	sonaecom	PROPN
cjfa-10416	376	26	sgps	sgps	PROPN
cjfa-10416	376	27	,	,	PUNCT
cjfa-10416	376	28	sa	sa	PROPN
cjfa-10416	376	29	and	and	CCONJ
cjfa-10416	376	30	sonae	sonae	PROPN
cjfa-10416	376	31	sgps	sgps	PROPN
cjfa-10416	376	32	,	,	PUNCT
cjfa-10416	376	33	sa	sa	PROPN
cjfa-10416	376	34	.	.	PUNCT
cjfa-10416	377	1	later	later	ADV
cjfa-10416	377	2	,	,	PUNCT
cjfa-10416	377	3	in	in	ADP
cjfa-10416	377	4	week	week	NOUN
cjfa-10416	377	5	+2	+2	ADV
cjfa-10416	377	6	there	there	PRON
cjfa-10416	377	7	was	be	VERB
cjfa-10416	377	8	a	a	DET
cjfa-10416	377	9	new	new	ADJ
cjfa-10416	377	10	replica	replica	NOUN
cjfa-10416	377	11	,	,	PUNCT
cjfa-10416	377	12	but	but	CCONJ
cjfa-10416	377	13	of	of	ADP
cjfa-10416	377	14	inferior	inferior	ADJ
cjfa-10416	377	15	intensity	intensity	NOUN
cjfa-10416	377	16	.	.	PUNCT
cjfa-10416	378	1	joão	joão	PROPN
cjfa-10416	378	2	paulo	paulo	PROPN
cjfa-10416	378	3	braga	braga	PROPN
cjfa-10416	378	4	,	,	PUNCT
cjfa-10416	378	5	luís	luís	PROPN
cjfa-10416	378	6	m.	m.	PROPN
cjfa-10416	378	7	pereira	pereira	PROPN
cjfa-10416	378	8	gomes56	gomes56	PROPN
cjfa-10416	378	9	continuing	continue	VERB
cjfa-10416	378	10	with	with	ADP
cjfa-10416	378	11	the	the	DET
cjfa-10416	378	12	beaver	beaver	NOUN
cjfa-10416	378	13	(	(	PUNCT
cjfa-10416	378	14	1968	1968	NUM
cjfa-10416	378	15	)	)	PUNCT
cjfa-10416	378	16	model	model	NOUN
cjfa-10416	378	17	,	,	PUNCT
cjfa-10416	378	18	graph	graph	NOUN
cjfa-10416	378	19	6	6	NUM
cjfa-10416	378	20	represents	represent	VERB
cjfa-10416	378	21	the	the	DET
cjfa-10416	378	22	reaction	reaction	NOUN
cjfa-10416	378	23	of	of	ADP
cjfa-10416	378	24	average	average	ADJ
cjfa-10416	378	25	abnormal	abnormal	ADJ
cjfa-10416	378	26	returns	return	NOUN
cjfa-10416	378	27	in	in	ADP
cjfa-10416	378	28	the	the	DET
cjfa-10416	378	29	period	period	NOUN
cjfa-10416	378	30	close	close	ADV
cjfa-10416	378	31	to	to	ADP
cjfa-10416	378	32	the	the	DET
cjfa-10416	378	33	preliminary	preliminary	ADJ
cjfa-10416	378	34	announcement	announcement	NOUN
cjfa-10416	378	35	for	for	ADP
cjfa-10416	378	36	target	target	NOUN
cjfa-10416	378	37	companies	company	NOUN
cjfa-10416	378	38	:	:	PUNCT
cjfa-10416	378	39	graph	graph	VERB
cjfa-10416	378	40	6	6	NUM
cjfa-10416	378	41	.	.	PUNCT
cjfa-10416	378	42	reaction	reaction	NOUN
cjfa-10416	378	43	of	of	ADP
cjfa-10416	378	44	the	the	DET
cjfa-10416	378	45	average	average	ADJ
cjfa-10416	378	46	abnormal	abnormal	ADJ
cjfa-10416	378	47	(	(	PUNCT
cjfa-10416	378	48	log	log	NOUN
cjfa-10416	378	49	)	)	PUNCT
cjfa-10416	378	50	returns	return	NOUN
cjfa-10416	378	51	(	(	PUNCT
cjfa-10416	378	52	beaver	beaver	NOUN
cjfa-10416	378	53	)	)	PUNCT
cjfa-10416	378	54	–	–	PUNCT
cjfa-10416	379	1	target	target	NOUN
cjfa-10416	379	2	companies	company	NOUN
cjfa-10416	379	3	continuing	continue	VERB
cjfa-10416	379	4	with	with	ADP
cjfa-10416	379	5	the	the	DET
cjfa-10416	379	6	beaver	beaver	NOUN
cjfa-10416	379	7	(	(	PUNCT
cjfa-10416	379	8	1968	1968	NUM
cjfa-10416	379	9	)	)	PUNCT
cjfa-10416	379	10	model	model	NOUN
cjfa-10416	379	11	,	,	PUNCT
cjfa-10416	379	12	graph	graph	NOUN
cjfa-10416	379	13	6	6	NUM
cjfa-10416	379	14	represents	represent	VERB
cjfa-10416	379	15	the	the	DET
cjfa-10416	379	16	reaction	reaction	NOUN
cjfa-10416	379	17	of	of	ADP
cjfa-10416	379	18	average	average	ADJ
cjfa-10416	379	19	abnormal	abnormal	ADJ
cjfa-10416	379	20	returns	return	NOUN
cjfa-10416	379	21	in	in	ADP
cjfa-10416	379	22	the	the	DET
cjfa-10416	379	23	period	period	NOUN
cjfa-10416	379	24	close	close	ADV
cjfa-10416	379	25	to	to	ADP
cjfa-10416	379	26	the	the	DET
cjfa-10416	379	27	preliminary	preliminary	ADJ
cjfa-10416	379	28	announcement	announcement	NOUN
cjfa-10416	379	29	for	for	ADP
cjfa-10416	379	30	target	target	NOUN
cjfa-10416	379	31	companies	company	NOUN
cjfa-10416	379	32	:	:	PUNCT
cjfa-10416	379	33	graph	graph	VERB
cjfa-10416	379	34	6	6	NUM
cjfa-10416	379	35	.	.	PUNCT
cjfa-10416	380	1	reaction	reaction	NOUN
cjfa-10416	380	2	of	of	ADP
cjfa-10416	380	3	the	the	DET
cjfa-10416	380	4	average	average	ADJ
cjfa-10416	380	5	abnormal	abnormal	ADJ
cjfa-10416	380	6	(	(	PUNCT
cjfa-10416	380	7	log	log	NOUN
cjfa-10416	380	8	)	)	PUNCT
cjfa-10416	380	9	returns	return	NOUN
cjfa-10416	380	10	(	(	PUNCT
cjfa-10416	380	11	beaver	beaver	NOUN
cjfa-10416	380	12	)	)	PUNCT
cjfa-10416	380	13	–	–	PUNCT
cjfa-10416	380	14	target	target	NOUN
cjfa-10416	380	15	companies	company	NOUN
cjfa-10416	380	16	source	source	NOUN
cjfa-10416	380	17	:	:	PUNCT
cjfa-10416	380	18	elaboration	elaboration	NOUN
cjfa-10416	380	19	of	of	ADP
cjfa-10416	380	20	the	the	DET
cjfa-10416	380	21	author	author	NOUN
cjfa-10416	380	22	.	.	PUNCT
cjfa-10416	381	1	the	the	DET
cjfa-10416	381	2	graph	graph	NOUN
cjfa-10416	381	3	shows	show	VERB
cjfa-10416	381	4	a	a	DET
cjfa-10416	381	5	strong	strong	ADJ
cjfa-10416	381	6	reaction	reaction	NOUN
cjfa-10416	381	7	of	of	ADP
cjfa-10416	381	8	the	the	DET
cjfa-10416	381	9	average	average	ADJ
cjfa-10416	381	10	abnormal	abnormal	ADJ
cjfa-10416	381	11	returns	return	NOUN
cjfa-10416	381	12	of	of	ADP
cjfa-10416	381	13	the	the	DET
cjfa-10416	381	14	target	target	NOUN
cjfa-10416	381	15	companies	company	NOUN
cjfa-10416	381	16	,	,	PUNCT
cjfa-10416	381	17	characterized	characterize	VERB
cjfa-10416	381	18	by	by	ADP
cjfa-10416	381	19	an	an	DET
cjfa-10416	381	20	isolated	isolated	ADJ
cjfa-10416	381	21	high	high	ADJ
cjfa-10416	381	22	“	"	PUNCT
cjfa-10416	381	23	peak	peak	NOUN
cjfa-10416	381	24	”	"	PUNCT
cjfa-10416	381	25	in	in	ADP
cjfa-10416	381	26	the	the	DET
cjfa-10416	381	27	preliminary	preliminary	ADJ
cjfa-10416	381	28	announcement	announcement	NOUN
cjfa-10416	381	29	date	date	NOUN
cjfa-10416	381	30	(	(	PUNCT
cjfa-10416	381	31	week	week	NOUN
cjfa-10416	381	32	0	0	NUM
cjfa-10416	381	33	)	)	PUNCT
cjfa-10416	381	34	.	.	PUNCT
cjfa-10416	382	1	the	the	DET
cjfa-10416	382	2	behavior	behavior	NOUN
cjfa-10416	382	3	of	of	ADP
cjfa-10416	382	4	the	the	DET
cjfa-10416	382	5	data	datum	NOUN
cjfa-10416	382	6	of	of	ADP
cjfa-10416	382	7	graph	graph	NOUN
cjfa-10416	382	8	6	6	NUM
cjfa-10416	382	9	also	also	ADV
cjfa-10416	382	10	confirms	confirm	VERB
cjfa-10416	382	11	the	the	DET
cjfa-10416	382	12	working	work	VERB
cjfa-10416	382	13	hypothesis	hypothesis	NOUN
cjfa-10416	382	14	h4	h4	NOUN
cjfa-10416	382	15	mentioned	mention	VERB
cjfa-10416	382	16	before	before	ADV
cjfa-10416	382	17	.	.	PUNCT
cjfa-10416	383	1	additionally	additionally	ADV
cjfa-10416	383	2	,	,	PUNCT
cjfa-10416	383	3	it	it	PRON
cjfa-10416	383	4	can	can	AUX
cjfa-10416	383	5	also	also	ADV
cjfa-10416	383	6	be	be	AUX
cjfa-10416	383	7	concluded	conclude	VERB
cjfa-10416	383	8	that	that	SCONJ
cjfa-10416	383	9	the	the	DET
cjfa-10416	383	10	reaction	reaction	NOUN
cjfa-10416	383	11	of	of	ADP
cjfa-10416	383	12	the	the	DET
cjfa-10416	383	13	abnormal	abnormal	ADJ
cjfa-10416	383	14	returns	return	NOUN
cjfa-10416	383	15	to	to	ADP
cjfa-10416	383	16	the	the	DET
cjfa-10416	383	17	preliminary	preliminary	ADJ
cjfa-10416	383	18	announcement	announcement	NOUN
cjfa-10416	383	19	of	of	ADP
cjfa-10416	383	20	the	the	DET
cjfa-10416	383	21	takeover	takeover	NOUN
cjfa-10416	383	22	bid	bid	NOUN
cjfa-10416	383	23	is	be	AUX
cjfa-10416	383	24	much	much	ADV
cjfa-10416	383	25	higher	high	ADJ
cjfa-10416	383	26	in	in	ADP
cjfa-10416	383	27	target	target	NOUN
cjfa-10416	383	28	companies	company	NOUN
cjfa-10416	383	29	than	than	ADP
cjfa-10416	383	30	in	in	ADP
cjfa-10416	383	31	acquiring	acquire	VERB
cjfa-10416	383	32	companies	company	NOUN
cjfa-10416	383	33	,	,	PUNCT
cjfa-10416	383	34	confirming	confirm	VERB
cjfa-10416	383	35	the	the	DET
cjfa-10416	383	36	working	work	VERB
cjfa-10416	383	37	hypothesis	hypothesis	NOUN
cjfa-10416	383	38	h5	h5	NOUN
cjfa-10416	383	39	mentioned	mention	VERB
cjfa-10416	383	40	before	before	ADV
cjfa-10416	383	41	.	.	PUNCT
cjfa-10416	384	1	later	later	ADV
cjfa-10416	384	2	,	,	PUNCT
cjfa-10416	384	3	in	in	ADP
cjfa-10416	384	4	week	week	NOUN
cjfa-10416	384	5	+2	+2	ADV
cjfa-10416	384	6	there	there	PRON
cjfa-10416	384	7	was	be	VERB
cjfa-10416	384	8	a	a	DET
cjfa-10416	384	9	new	new	ADJ
cjfa-10416	384	10	replica	replica	NOUN
cjfa-10416	384	11	,	,	PUNCT
cjfa-10416	384	12	but	but	CCONJ
cjfa-10416	384	13	of	of	ADP
cjfa-10416	384	14	inferior	inferior	ADJ
cjfa-10416	384	15	intensity	intensity	NOUN
cjfa-10416	384	16	.	.	PUNCT
cjfa-10416	385	1	the	the	DET
cjfa-10416	385	2	relevant	relevant	ADJ
cjfa-10416	385	3	effect	effect	NOUN
cjfa-10416	385	4	of	of	ADP
cjfa-10416	385	5	the	the	DET
cjfa-10416	385	6	disclosure	disclosure	NOUN
cjfa-10416	385	7	of	of	ADP
cjfa-10416	385	8	the	the	DET
cjfa-10416	385	9	preliminary	preliminary	ADJ
cjfa-10416	385	10	announcement	announcement	NOUN
cjfa-10416	385	11	on	on	ADP
cjfa-10416	385	12	the	the	DET
cjfa-10416	385	13	stock	stock	NOUN
cjfa-10416	385	14	prices	price	NOUN
cjfa-10416	385	15	of	of	ADP
cjfa-10416	385	16	the	the	DET
cjfa-10416	385	17	companies	company	NOUN
cjfa-10416	385	18	involved	involve	VERB
cjfa-10416	385	19	in	in	ADP
cjfa-10416	385	20	takeover	takeover	NOUN
cjfa-10416	385	21	bids	bid	NOUN
cjfa-10416	385	22	,	,	PUNCT
cjfa-10416	385	23	mainly	mainly	ADV
cjfa-10416	385	24	on	on	ADP
cjfa-10416	385	25	target	target	NOUN
cjfa-10416	385	26	companies	company	NOUN
cjfa-10416	385	27	,	,	PUNCT
cjfa-10416	385	28	corroborates	corroborate	VERB
cjfa-10416	385	29	the	the	DET
cjfa-10416	385	30	results	result	NOUN
cjfa-10416	385	31	shown	show	VERB
cjfa-10416	385	32	by	by	ADP
cjfa-10416	385	33	beaver	beaver	PROPN
cjfa-10416	385	34	(	(	PUNCT
cjfa-10416	385	35	1968	1968	NUM
cjfa-10416	385	36	)	)	PUNCT
cjfa-10416	385	37	.	.	PUNCT
cjfa-10416	386	1	graphs	graph	VERB
cjfa-10416	386	2	7	7	NUM
cjfa-10416	386	3	and	and	CCONJ
cjfa-10416	386	4	8	8	NUM
cjfa-10416	386	5	represent	represent	VERB
cjfa-10416	386	6	the	the	DET
cjfa-10416	386	7	reaction	reaction	NOUN
cjfa-10416	386	8	of	of	ADP
cjfa-10416	386	9	the	the	DET
cjfa-10416	386	10	average	average	ADJ
cjfa-10416	386	11	abnormal	abnormal	ADJ
cjfa-10416	386	12	returns	return	NOUN
cjfa-10416	386	13	,	,	PUNCT
cjfa-10416	386	14	calculated	calculate	VERB
cjfa-10416	386	15	with	with	ADP
cjfa-10416	386	16	the	the	DET
cjfa-10416	386	17	beaver	beaver	NOUN
cjfa-10416	386	18	(	(	PUNCT
cjfa-10416	386	19	1968	1968	NUM
cjfa-10416	386	20	)	)	PUNCT
cjfa-10416	386	21	model	model	NOUN
cjfa-10416	386	22	,	,	PUNCT
cjfa-10416	386	23	for	for	ADP
cjfa-10416	386	24	the	the	DET
cjfa-10416	386	25	companies	company	NOUN
cjfa-10416	386	26	involved	involve	VERB
cjfa-10416	386	27	in	in	ADP
cjfa-10416	386	28	takeover	takeover	NOUN
cjfa-10416	386	29	bids	bid	NOUN
cjfa-10416	386	30	during	during	ADP
cjfa-10416	386	31	the	the	DET
cjfa-10416	386	32	period	period	NOUN
cjfa-10416	386	33	close	close	ADV
cjfa-10416	386	34	to	to	ADP
cjfa-10416	386	35	the	the	DET
cjfa-10416	386	36	preliminary	preliminary	ADJ
cjfa-10416	386	37	announcement	announcement	NOUN
cjfa-10416	386	38	date	date	NOUN
cjfa-10416	386	39	and	and	CCONJ
cjfa-10416	386	40	during	during	ADP
cjfa-10416	386	41	a	a	DET
cjfa-10416	386	42	larger	large	ADJ
cjfa-10416	386	43	period	period	NOUN
cjfa-10416	386	44	,	,	PUNCT
cjfa-10416	386	45	respectively	respectively	ADV
cjfa-10416	386	46	:	:	PUNCT
cjfa-10416	386	47	0,0000	0,0000	NUM
cjfa-10416	386	48	10,0000	10,0000	NUM
cjfa-10416	386	49	20,0000	20,0000	NUM
cjfa-10416	386	50	30,0000	30,0000	NUM
cjfa-10416	386	51	40,0000	40,0000	NUM
cjfa-10416	386	52	50,0000	50,0000	NUM
cjfa-10416	386	53	60,0000	60,0000	NUM
cjfa-10416	387	1	70,0000	70,0000	NUM
cjfa-10416	387	2	80,0000	80,0000	NUM
cjfa-10416	387	3	-5	-5	NOUN
cjfa-10416	387	4	-4	-4	INTJ
cjfa-10416	387	5	-3	-3	INTJ
cjfa-10416	387	6	-2	-2	INTJ
cjfa-10416	388	1	-1	-1	NOUN
cjfa-10416	388	2	0	0	PUNCT
cjfa-10416	389	1	+1	+1	ADJ
cjfa-10416	389	2	+2	+2	PROPN
cjfa-10416	389	3	+3	+3	PROPN
cjfa-10416	389	4	+4	+4	PROPN
cjfa-10416	390	1	+5	+5	PROPN
cjfa-10416	390	2	weeks	week	NOUN
cjfa-10416	390	3	(	(	PUNCT
cjfa-10416	390	4	announcement	announcement	NOUN
cjfa-10416	390	5	period	period	NOUN
cjfa-10416	390	6	)	)	PUNCT
cjfa-10416	390	7	s	s	PART
cjfa-10416	390	8	o	o	NOUN
cjfa-10416	390	9	u	u	NOUN
cjfa-10416	390	10	r	r	NOUN
cjfa-10416	390	11	c	c	NOUN
cjfa-10416	390	12	e	e	NOUN
cjfa-10416	390	13	:	:	PUNCT
cjfa-10416	390	14	elaboration	elaboration	NOUN
cjfa-10416	390	15	of	of	ADP
cjfa-10416	390	16	the	the	DET
cjfa-10416	390	17	author	author	NOUN
cjfa-10416	390	18	.	.	PUNCT
cjfa-10416	391	1	the	the	DET
cjfa-10416	391	2	graph	graph	NOUN
cjfa-10416	391	3	shows	show	VERB
cjfa-10416	391	4	a	a	DET
cjfa-10416	391	5	strong	strong	ADJ
cjfa-10416	391	6	reaction	reaction	NOUN
cjfa-10416	391	7	of	of	ADP
cjfa-10416	391	8	the	the	DET
cjfa-10416	391	9	average	average	ADJ
cjfa-10416	391	10	abnormal	abnormal	ADJ
cjfa-10416	391	11	returns	return	NOUN
cjfa-10416	391	12	of	of	ADP
cjfa-10416	391	13	the	the	DET
cjfa-10416	391	14	target	target	NOUN
cjfa-10416	391	15	companies	company	NOUN
cjfa-10416	391	16	,	,	PUNCT
cjfa-10416	391	17	characterized	characterize	VERB
cjfa-10416	391	18	by	by	ADP
cjfa-10416	391	19	an	an	DET
cjfa-10416	391	20	isolated	isolated	ADJ
cjfa-10416	391	21	high	high	ADJ
cjfa-10416	391	22	“	"	PUNCT
cjfa-10416	391	23	peak	peak	NOUN
cjfa-10416	391	24	”	"	PUNCT
cjfa-10416	391	25	in	in	ADP
cjfa-10416	391	26	the	the	DET
cjfa-10416	391	27	preliminary	preliminary	ADJ
cjfa-10416	391	28	announcement	announcement	NOUN
cjfa-10416	391	29	date	date	NOUN
cjfa-10416	391	30	(	(	PUNCT
cjfa-10416	391	31	week	week	NOUN
cjfa-10416	391	32	0	0	NUM
cjfa-10416	391	33	)	)	PUNCT
cjfa-10416	391	34	.	.	PUNCT
cjfa-10416	392	1	the	the	DET
cjfa-10416	392	2	behavior	behavior	NOUN
cjfa-10416	392	3	of	of	ADP
cjfa-10416	392	4	the	the	DET
cjfa-10416	392	5	data	datum	NOUN
cjfa-10416	392	6	of	of	ADP
cjfa-10416	392	7	graph	graph	NOUN
cjfa-10416	392	8	6	6	NUM
cjfa-10416	392	9	also	also	ADV
cjfa-10416	392	10	confirms	confirm	VERB
cjfa-10416	392	11	the	the	DET
cjfa-10416	392	12	working	work	VERB
cjfa-10416	392	13	hypothesis	hypothesis	NOUN
cjfa-10416	392	14	h4	h4	NOUN
cjfa-10416	392	15	mentioned	mention	VERB
cjfa-10416	392	16	before	before	ADV
cjfa-10416	392	17	.	.	PUNCT
cjfa-10416	393	1	additionally	additionally	ADV
cjfa-10416	393	2	,	,	PUNCT
cjfa-10416	393	3	it	it	PRON
cjfa-10416	393	4	can	can	AUX
cjfa-10416	393	5	also	also	ADV
cjfa-10416	393	6	be	be	AUX
cjfa-10416	393	7	concluded	conclude	VERB
cjfa-10416	393	8	that	that	SCONJ
cjfa-10416	393	9	the	the	DET
cjfa-10416	393	10	reaction	reaction	NOUN
cjfa-10416	393	11	of	of	ADP
cjfa-10416	393	12	the	the	DET
cjfa-10416	393	13	abnormal	abnormal	ADJ
cjfa-10416	393	14	returns	return	NOUN
cjfa-10416	393	15	to	to	ADP
cjfa-10416	393	16	the	the	DET
cjfa-10416	393	17	preliminary	preliminary	ADJ
cjfa-10416	393	18	announcement	announcement	NOUN
cjfa-10416	393	19	of	of	ADP
cjfa-10416	393	20	the	the	DET
cjfa-10416	393	21	takeover	takeover	NOUN
cjfa-10416	393	22	bid	bid	NOUN
cjfa-10416	393	23	is	be	AUX
cjfa-10416	393	24	much	much	ADV
cjfa-10416	393	25	higher	high	ADJ
cjfa-10416	393	26	in	in	ADP
cjfa-10416	393	27	target	target	NOUN
cjfa-10416	393	28	companies	company	NOUN
cjfa-10416	393	29	than	than	ADP
cjfa-10416	393	30	in	in	ADP
cjfa-10416	393	31	acquiring	acquire	VERB
cjfa-10416	393	32	companies	company	NOUN
cjfa-10416	393	33	,	,	PUNCT
cjfa-10416	393	34	confirming	confirm	VERB
cjfa-10416	393	35	the	the	DET
cjfa-10416	393	36	working	work	VERB
cjfa-10416	393	37	hypothesis	hypothesis	NOUN
cjfa-10416	393	38	h5	h5	NOUN
cjfa-10416	393	39	mentioned	mention	VERB
cjfa-10416	393	40	before	before	ADV
cjfa-10416	393	41	.	.	PUNCT
cjfa-10416	394	1	later	later	ADV
cjfa-10416	394	2	,	,	PUNCT
cjfa-10416	394	3	in	in	ADP
cjfa-10416	394	4	week	week	NOUN
cjfa-10416	394	5	+2	+2	ADV
cjfa-10416	394	6	there	there	PRON
cjfa-10416	394	7	was	be	VERB
cjfa-10416	394	8	a	a	DET
cjfa-10416	394	9	new	new	ADJ
cjfa-10416	394	10	replica	replica	NOUN
cjfa-10416	394	11	,	,	PUNCT
cjfa-10416	394	12	but	but	CCONJ
cjfa-10416	394	13	of	of	ADP
cjfa-10416	394	14	inferior	inferior	ADJ
cjfa-10416	394	15	intensity	intensity	NOUN
cjfa-10416	394	16	.	.	PUNCT
cjfa-10416	395	1	the	the	DET
cjfa-10416	395	2	relevant	relevant	ADJ
cjfa-10416	395	3	effect	effect	NOUN
cjfa-10416	395	4	of	of	ADP
cjfa-10416	395	5	the	the	DET
cjfa-10416	395	6	disclosure	disclosure	NOUN
cjfa-10416	395	7	of	of	ADP
cjfa-10416	395	8	the	the	DET
cjfa-10416	395	9	preliminary	preliminary	ADJ
cjfa-10416	395	10	announcement	announcement	NOUN
cjfa-10416	395	11	on	on	ADP
cjfa-10416	395	12	the	the	DET
cjfa-10416	395	13	stock	stock	NOUN
cjfa-10416	395	14	prices	price	NOUN
cjfa-10416	395	15	of	of	ADP
cjfa-10416	395	16	the	the	DET
cjfa-10416	395	17	companies	company	NOUN
cjfa-10416	395	18	involved	involve	VERB
cjfa-10416	395	19	in	in	ADP
cjfa-10416	395	20	takeover	takeover	NOUN
cjfa-10416	395	21	bids	bid	NOUN
cjfa-10416	395	22	,	,	PUNCT
cjfa-10416	395	23	mainly	mainly	ADV
cjfa-10416	395	24	on	on	ADP
cjfa-10416	395	25	target	target	NOUN
cjfa-10416	395	26	companies	company	NOUN
cjfa-10416	395	27	,	,	PUNCT
cjfa-10416	395	28	corroborates	corroborate	VERB
cjfa-10416	395	29	the	the	DET
cjfa-10416	395	30	results	result	NOUN
cjfa-10416	395	31	shown	show	VERB
cjfa-10416	395	32	by	by	ADP
cjfa-10416	395	33	beaver	beaver	PROPN
cjfa-10416	395	34	(	(	PUNCT
cjfa-10416	395	35	1968	1968	NUM
cjfa-10416	395	36	)	)	PUNCT
cjfa-10416	395	37	.	.	PUNCT
cjfa-10416	396	1	graphs	graph	VERB
cjfa-10416	396	2	7	7	NUM
cjfa-10416	396	3	and	and	CCONJ
cjfa-10416	396	4	8	8	NUM
cjfa-10416	396	5	represent	represent	VERB
cjfa-10416	396	6	the	the	DET
cjfa-10416	396	7	reaction	reaction	NOUN
cjfa-10416	396	8	of	of	ADP
cjfa-10416	396	9	the	the	DET
cjfa-10416	396	10	average	average	ADJ
cjfa-10416	396	11	abnormal	abnormal	ADJ
cjfa-10416	396	12	returns	return	NOUN
cjfa-10416	396	13	,	,	PUNCT
cjfa-10416	396	14	calculated	calculate	VERB
cjfa-10416	396	15	with	with	ADP
cjfa-10416	396	16	the	the	DET
cjfa-10416	396	17	beaver	beaver	NOUN
cjfa-10416	396	18	(	(	PUNCT
cjfa-10416	396	19	1968	1968	NUM
cjfa-10416	396	20	)	)	PUNCT
cjfa-10416	396	21	model	model	NOUN
cjfa-10416	396	22	,	,	PUNCT
cjfa-10416	396	23	for	for	ADP
cjfa-10416	396	24	the	the	DET
cjfa-10416	396	25	companies	company	NOUN
cjfa-10416	396	26	involved	involve	VERB
cjfa-10416	396	27	in	in	ADP
cjfa-10416	396	28	takeover	takeover	NOUN
cjfa-10416	396	29	bids	bid	NOUN
cjfa-10416	396	30	during	during	ADP
cjfa-10416	396	31	the	the	DET
cjfa-10416	396	32	period	period	NOUN
cjfa-10416	396	33	close	close	ADV
cjfa-10416	396	34	to	to	ADP
cjfa-10416	396	35	the	the	DET
cjfa-10416	396	36	preliminary	preliminary	ADJ
cjfa-10416	396	37	announcement	announcement	NOUN
cjfa-10416	396	38	date	date	NOUN
cjfa-10416	396	39	and	and	CCONJ
cjfa-10416	396	40	during	during	ADP
cjfa-10416	396	41	a	a	DET
cjfa-10416	396	42	larger	large	ADJ
cjfa-10416	396	43	period	period	NOUN
cjfa-10416	396	44	,	,	PUNCT
cjfa-10416	396	45	respectively	respectively	ADV
cjfa-10416	396	46	:	:	PUNCT
cjfa-10416	396	47	the	the	DET
cjfa-10416	396	48	impact	impact	NOUN
cjfa-10416	396	49	of	of	ADP
cjfa-10416	396	50	the	the	DET
cjfa-10416	396	51	preliminary	preliminary	ADJ
cjfa-10416	396	52	announcement	announcement	NOUN
cjfa-10416	396	53	…	…	PUNCT
cjfa-10416	396	54	57	57	NUM
cjfa-10416	396	55	graph	graph	NOUN
cjfa-10416	396	56	7	7	NUM
cjfa-10416	396	57	.	.	PUNCT
cjfa-10416	396	58	reaction	reaction	NOUN
cjfa-10416	396	59	of	of	ADP
cjfa-10416	396	60	the	the	DET
cjfa-10416	396	61	average	average	ADJ
cjfa-10416	396	62	abnormal	abnormal	ADJ
cjfa-10416	396	63	(	(	PUNCT
cjfa-10416	396	64	log	log	NOUN
cjfa-10416	396	65	)	)	PUNCT
cjfa-10416	396	66	returns	return	NOUN
cjfa-10416	396	67	(	(	PUNCT
cjfa-10416	396	68	beaver	beaver	NOUN
cjfa-10416	396	69	)	)	PUNCT
cjfa-10416	396	70	–	–	PUNCT
cjfa-10416	397	1	companies	company	NOUN
cjfa-10416	397	2	involved	involve	VERB
cjfa-10416	397	3	graph	graph	NOUN
cjfa-10416	397	4	7	7	NUM
cjfa-10416	397	5	.	.	PUNCT
cjfa-10416	398	1	reaction	reaction	NOUN
cjfa-10416	398	2	of	of	ADP
cjfa-10416	398	3	the	the	DET
cjfa-10416	398	4	average	average	ADJ
cjfa-10416	398	5	abnormal	abnormal	ADJ
cjfa-10416	398	6	(	(	PUNCT
cjfa-10416	398	7	log	log	NOUN
cjfa-10416	398	8	)	)	PUNCT
cjfa-10416	398	9	returns	return	NOUN
cjfa-10416	398	10	(	(	PUNCT
cjfa-10416	398	11	beaver	beaver	NOUN
cjfa-10416	398	12	)	)	PUNCT
cjfa-10416	398	13	–	–	PUNCT
cjfa-10416	398	14	companies	company	NOUN
cjfa-10416	398	15	involved	involve	VERB
cjfa-10416	398	16	source	source	NOUN
cjfa-10416	398	17	:	:	PUNCT
cjfa-10416	398	18	elaboration	elaboration	NOUN
cjfa-10416	398	19	of	of	ADP
cjfa-10416	398	20	the	the	DET
cjfa-10416	398	21	author	author	NOUN
cjfa-10416	398	22	.	.	PUNCT
cjfa-10416	399	1	graph	graph	NOUN
cjfa-10416	399	2	8	8	NUM
cjfa-10416	399	3	.	.	PUNCT
cjfa-10416	400	1	reaction	reaction	NOUN
cjfa-10416	400	2	of	of	ADP
cjfa-10416	400	3	the	the	DET
cjfa-10416	400	4	average	average	ADJ
cjfa-10416	400	5	abnormal	abnormal	ADJ
cjfa-10416	400	6	(	(	PUNCT
cjfa-10416	400	7	log	log	NOUN
cjfa-10416	400	8	)	)	PUNCT
cjfa-10416	400	9	returns	return	NOUN
cjfa-10416	400	10	(	(	PUNCT
cjfa-10416	400	11	beaver	beaver	NOUN
cjfa-10416	400	12	)	)	PUNCT
cjfa-10416	400	13	–	–	PUNCT
cjfa-10416	400	14	companies	company	NOUN
cjfa-10416	400	15	involved	involve	VERB
cjfa-10416	400	16	source	source	NOUN
cjfa-10416	400	17	:	:	PUNCT
cjfa-10416	400	18	elaboration	elaboration	NOUN
cjfa-10416	400	19	of	of	ADP
cjfa-10416	400	20	the	the	DET
cjfa-10416	400	21	author	author	NOUN
cjfa-10416	400	22	.	.	PUNCT
cjfa-10416	401	1	graphs	graph	VERB
cjfa-10416	401	2	7	7	NUM
cjfa-10416	401	3	and	and	CCONJ
cjfa-10416	401	4	8	8	NUM
cjfa-10416	401	5	show	show	VERB
cjfa-10416	401	6	the	the	DET
cjfa-10416	401	7	consolidated	consolidated	ADJ
cjfa-10416	401	8	effect	effect	NOUN
cjfa-10416	401	9	of	of	ADP
cjfa-10416	401	10	the	the	DET
cjfa-10416	401	11	graphs	graph	NOUN
cjfa-10416	401	12	presented	present	VERB
cjfa-10416	401	13	before	before	ADV
cjfa-10416	401	14	,	,	PUNCT
cjfa-10416	401	15	such	such	ADJ
cjfa-10416	401	16	as	as	ADP
cjfa-10416	401	17	graphs	graph	NOUN
cjfa-10416	401	18	5	5	NUM
cjfa-10416	401	19	and	and	CCONJ
cjfa-10416	401	20	6	6	NUM
cjfa-10416	401	21	,	,	PUNCT
cjfa-10416	401	22	confirming	confirm	VERB
cjfa-10416	401	23	the	the	DET
cjfa-10416	401	24	strong	strong	ADJ
cjfa-10416	401	25	impact	impact	NOUN
cjfa-10416	401	26	of	of	ADP
cjfa-10416	401	27	the	the	DET
cjfa-10416	401	28	announcement	announcement	NOUN
cjfa-10416	401	29	.	.	PUNCT
cjfa-10416	402	1	facts	fact	NOUN
cjfa-10416	402	2	such	such	ADJ
cjfa-10416	402	3	as	as	ADP
cjfa-10416	402	4	“	"	PUNCT
cjfa-10416	402	5	peaks	peak	NOUN
cjfa-10416	402	6	”	"	PUNCT
cjfa-10416	402	7	in	in	ADP
cjfa-10416	402	8	the	the	DET
cjfa-10416	402	9	weeks	week	NOUN
cjfa-10416	402	10	0	0	NUM
cjfa-10416	402	11	and	and	CCONJ
cjfa-10416	402	12	+2	+2	PROPN
cjfa-10416	402	13	,	,	PUNCT
cjfa-10416	402	14	integrated	integrate	VERB
cjfa-10416	402	15	in	in	ADP
cjfa-10416	402	16	a	a	DET
cjfa-10416	402	17	larger	large	ADJ
cjfa-10416	402	18	period	period	NOUN
cjfa-10416	402	19	,	,	PUNCT
cjfa-10416	402	20	further	far	ADV
cjfa-10416	402	21	to	to	ADP
cjfa-10416	402	22	the	the	DET
cjfa-10416	402	23	preliminary	preliminary	ADJ
cjfa-10416	402	24	announcement	announcement	NOUN
cjfa-10416	402	25	date	date	NOUN
cjfa-10416	402	26	,	,	PUNCT
cjfa-10416	402	27	considering	consider	VERB
cjfa-10416	402	28	the	the	DET
cjfa-10416	402	29	entire	entire	ADJ
cjfa-10416	402	30	period	period	NOUN
cjfa-10416	402	31	in	in	ADP
cjfa-10416	402	32	study	study	NOUN
cjfa-10416	402	33	(	(	PUNCT
cjfa-10416	402	34	between	between	ADP
cjfa-10416	402	35	weeks	week	NOUN
cjfa-10416	402	36	-18	-18	PUNCT
cjfa-10416	402	37	and	and	CCONJ
cjfa-10416	402	38	+18	+18	ADJ
cjfa-10416	402	39	)	)	PUNCT
cjfa-10416	402	40	.	.	PUNCT
cjfa-10416	403	1	the	the	DET
cjfa-10416	403	2	results	result	NOUN
cjfa-10416	403	3	for	for	ADP
cjfa-10416	403	4	acquiring	acquire	VERB
cjfa-10416	403	5	and	and	CCONJ
cjfa-10416	403	6	target	target	VERB
cjfa-10416	403	7	companies	company	NOUN
cjfa-10416	403	8	confirm	confirm	VERB
cjfa-10416	403	9	the	the	DET
cjfa-10416	403	10	working	work	VERB
cjfa-10416	403	11	hypothesis	hypothesis	NOUN
cjfa-10416	403	12	h4	h4	NOUN
cjfa-10416	403	13	mentioned	mention	VERB
cjfa-10416	403	14	before	before	ADV
cjfa-10416	403	15	.	.	PUNCT
cjfa-10416	404	1	descriptive	descriptive	ADJ
cjfa-10416	404	2	statistic	statistic	ADJ
cjfa-10416	404	3	analysis	analysis	NOUN
cjfa-10416	404	4	:	:	PUNCT
cjfa-10416	404	5	0,0000	0,0000	NUM
cjfa-10416	404	6	5,0000	5,0000	NUM
cjfa-10416	404	7	10,0000	10,0000	NUM
cjfa-10416	404	8	15,0000	15,0000	NUM
cjfa-10416	404	9	20,0000	20,0000	NUM
cjfa-10416	405	1	25,0000	25,0000	NUM
cjfa-10416	405	2	-5	-5	NOUN
cjfa-10416	405	3	-4	-4	INTJ
cjfa-10416	405	4	-3	-3	INTJ
cjfa-10416	405	5	-2	-2	INTJ
cjfa-10416	406	1	-1	-1	NOUN
cjfa-10416	406	2	0	0	PUNCT
cjfa-10416	407	1	+1	+1	ADJ
cjfa-10416	407	2	+2	+2	PROPN
cjfa-10416	407	3	+3	+3	PROPN
cjfa-10416	407	4	+4	+4	PROPN
cjfa-10416	408	1	+5	+5	PROPN
cjfa-10416	408	2	weeks	week	NOUN
cjfa-10416	408	3	(	(	PUNCT
cjfa-10416	408	4	announcement	announcement	NOUN
cjfa-10416	408	5	period	period	NOUN
cjfa-10416	408	6	)	)	PUNCT
cjfa-10416	408	7	0,0000	0,0000	NUM
cjfa-10416	409	1	5,0000	5,0000	NUM
cjfa-10416	409	2	10,0000	10,0000	NUM
cjfa-10416	409	3	15,0000	15,0000	NUM
cjfa-10416	409	4	20,0000	20,0000	NUM
cjfa-10416	409	5	25,0000	25,0000	NUM
cjfa-10416	409	6	weeks	week	NOUN
cjfa-10416	409	7	s	s	PART
cjfa-10416	409	8	o	o	NOUN
cjfa-10416	409	9	u	u	NOUN
cjfa-10416	409	10	r	r	NOUN
cjfa-10416	409	11	c	c	NOUN
cjfa-10416	409	12	e	e	NOUN
cjfa-10416	409	13	:	:	PUNCT
cjfa-10416	409	14	elaboration	elaboration	NOUN
cjfa-10416	409	15	of	of	ADP
cjfa-10416	409	16	the	the	DET
cjfa-10416	409	17	author	author	NOUN
cjfa-10416	409	18	.	.	PUNCT
cjfa-10416	410	1	graph	graph	NOUN
cjfa-10416	410	2	8	8	NUM
cjfa-10416	410	3	.	.	PUNCT
cjfa-10416	411	1	reaction	reaction	NOUN
cjfa-10416	411	2	of	of	ADP
cjfa-10416	411	3	the	the	DET
cjfa-10416	411	4	average	average	ADJ
cjfa-10416	411	5	abnormal	abnormal	ADJ
cjfa-10416	411	6	(	(	PUNCT
cjfa-10416	411	7	log	log	NOUN
cjfa-10416	411	8	)	)	PUNCT
cjfa-10416	411	9	returns	return	NOUN
cjfa-10416	411	10	(	(	PUNCT
cjfa-10416	411	11	beaver	beaver	NOUN
cjfa-10416	411	12	)	)	PUNCT
cjfa-10416	411	13	–	–	PUNCT
cjfa-10416	412	1	companies	company	NOUN
cjfa-10416	412	2	involved	involve	VERB
cjfa-10416	412	3	graph	graph	NOUN
cjfa-10416	412	4	7	7	NUM
cjfa-10416	412	5	.	.	PUNCT
cjfa-10416	413	1	reaction	reaction	NOUN
cjfa-10416	413	2	of	of	ADP
cjfa-10416	413	3	the	the	DET
cjfa-10416	413	4	average	average	ADJ
cjfa-10416	413	5	abnormal	abnormal	ADJ
cjfa-10416	413	6	(	(	PUNCT
cjfa-10416	413	7	log	log	NOUN
cjfa-10416	413	8	)	)	PUNCT
cjfa-10416	413	9	returns	return	NOUN
cjfa-10416	413	10	(	(	PUNCT
cjfa-10416	413	11	beaver	beaver	NOUN
cjfa-10416	413	12	)	)	PUNCT
cjfa-10416	413	13	–	–	PUNCT
cjfa-10416	413	14	companies	company	NOUN
cjfa-10416	413	15	involved	involve	VERB
cjfa-10416	413	16	source	source	NOUN
cjfa-10416	413	17	:	:	PUNCT
cjfa-10416	413	18	elaboration	elaboration	NOUN
cjfa-10416	413	19	of	of	ADP
cjfa-10416	413	20	the	the	DET
cjfa-10416	413	21	author	author	NOUN
cjfa-10416	413	22	.	.	PUNCT
cjfa-10416	414	1	graph	graph	NOUN
cjfa-10416	414	2	8	8	NUM
cjfa-10416	414	3	.	.	PUNCT
cjfa-10416	415	1	reaction	reaction	NOUN
cjfa-10416	415	2	of	of	ADP
cjfa-10416	415	3	the	the	DET
cjfa-10416	415	4	average	average	ADJ
cjfa-10416	415	5	abnormal	abnormal	ADJ
cjfa-10416	415	6	(	(	PUNCT
cjfa-10416	415	7	log	log	NOUN
cjfa-10416	415	8	)	)	PUNCT
cjfa-10416	415	9	returns	return	NOUN
cjfa-10416	415	10	(	(	PUNCT
cjfa-10416	415	11	beaver	beaver	NOUN
cjfa-10416	415	12	)	)	PUNCT
cjfa-10416	415	13	–	–	PUNCT
cjfa-10416	415	14	companies	company	NOUN
cjfa-10416	415	15	involved	involve	VERB
cjfa-10416	415	16	source	source	NOUN
cjfa-10416	415	17	:	:	PUNCT
cjfa-10416	415	18	elaboration	elaboration	NOUN
cjfa-10416	415	19	of	of	ADP
cjfa-10416	415	20	the	the	DET
cjfa-10416	415	21	author	author	NOUN
cjfa-10416	415	22	.	.	PUNCT
cjfa-10416	416	1	graphs	graph	VERB
cjfa-10416	416	2	7	7	NUM
cjfa-10416	416	3	and	and	CCONJ
cjfa-10416	416	4	8	8	NUM
cjfa-10416	416	5	show	show	VERB
cjfa-10416	416	6	the	the	DET
cjfa-10416	416	7	consolidated	consolidated	ADJ
cjfa-10416	416	8	effect	effect	NOUN
cjfa-10416	416	9	of	of	ADP
cjfa-10416	416	10	the	the	DET
cjfa-10416	416	11	graphs	graph	NOUN
cjfa-10416	416	12	presented	present	VERB
cjfa-10416	416	13	before	before	ADV
cjfa-10416	416	14	,	,	PUNCT
cjfa-10416	416	15	such	such	ADJ
cjfa-10416	416	16	as	as	ADP
cjfa-10416	416	17	graphs	graph	NOUN
cjfa-10416	416	18	5	5	NUM
cjfa-10416	416	19	and	and	CCONJ
cjfa-10416	416	20	6	6	NUM
cjfa-10416	416	21	,	,	PUNCT
cjfa-10416	416	22	confirming	confirm	VERB
cjfa-10416	416	23	the	the	DET
cjfa-10416	416	24	strong	strong	ADJ
cjfa-10416	416	25	impact	impact	NOUN
cjfa-10416	416	26	of	of	ADP
cjfa-10416	416	27	the	the	DET
cjfa-10416	416	28	announcement	announcement	NOUN
cjfa-10416	416	29	.	.	PUNCT
cjfa-10416	417	1	facts	fact	NOUN
cjfa-10416	417	2	such	such	ADJ
cjfa-10416	417	3	as	as	ADP
cjfa-10416	417	4	“	"	PUNCT
cjfa-10416	417	5	peaks	peak	NOUN
cjfa-10416	417	6	”	"	PUNCT
cjfa-10416	417	7	in	in	ADP
cjfa-10416	417	8	the	the	DET
cjfa-10416	417	9	weeks	week	NOUN
cjfa-10416	417	10	0	0	NUM
cjfa-10416	417	11	and	and	CCONJ
cjfa-10416	417	12	+2	+2	PROPN
cjfa-10416	417	13	,	,	PUNCT
cjfa-10416	417	14	integrated	integrate	VERB
cjfa-10416	417	15	in	in	ADP
cjfa-10416	417	16	a	a	DET
cjfa-10416	417	17	larger	large	ADJ
cjfa-10416	417	18	period	period	NOUN
cjfa-10416	417	19	,	,	PUNCT
cjfa-10416	417	20	further	far	ADV
cjfa-10416	417	21	to	to	ADP
cjfa-10416	417	22	the	the	DET
cjfa-10416	417	23	preliminary	preliminary	ADJ
cjfa-10416	417	24	announcement	announcement	NOUN
cjfa-10416	417	25	date	date	NOUN
cjfa-10416	417	26	,	,	PUNCT
cjfa-10416	417	27	considering	consider	VERB
cjfa-10416	417	28	the	the	DET
cjfa-10416	417	29	entire	entire	ADJ
cjfa-10416	417	30	period	period	NOUN
cjfa-10416	417	31	in	in	ADP
cjfa-10416	417	32	study	study	NOUN
cjfa-10416	417	33	(	(	PUNCT
cjfa-10416	417	34	between	between	ADP
cjfa-10416	417	35	weeks	week	NOUN
cjfa-10416	417	36	-18	-18	PUNCT
cjfa-10416	417	37	and	and	CCONJ
cjfa-10416	417	38	+18	+18	ADJ
cjfa-10416	417	39	)	)	PUNCT
cjfa-10416	417	40	.	.	PUNCT
cjfa-10416	418	1	the	the	DET
cjfa-10416	418	2	results	result	NOUN
cjfa-10416	418	3	for	for	ADP
cjfa-10416	418	4	acquiring	acquire	VERB
cjfa-10416	418	5	and	and	CCONJ
cjfa-10416	418	6	target	target	VERB
cjfa-10416	418	7	companies	company	NOUN
cjfa-10416	418	8	confirm	confirm	VERB
cjfa-10416	418	9	the	the	DET
cjfa-10416	418	10	working	work	VERB
cjfa-10416	418	11	hypothesis	hypothesis	NOUN
cjfa-10416	418	12	h4	h4	NOUN
cjfa-10416	418	13	mentioned	mention	VERB
cjfa-10416	418	14	before	before	ADV
cjfa-10416	418	15	.	.	PUNCT
cjfa-10416	419	1	descriptive	descriptive	ADJ
cjfa-10416	419	2	statistic	statistic	ADJ
cjfa-10416	419	3	analysis	analysis	NOUN
cjfa-10416	419	4	:	:	PUNCT
cjfa-10416	419	5	0,0000	0,0000	NUM
cjfa-10416	419	6	5,0000	5,0000	NUM
cjfa-10416	419	7	10,0000	10,0000	NUM
cjfa-10416	419	8	15,0000	15,0000	NUM
cjfa-10416	419	9	20,0000	20,0000	NUM
cjfa-10416	420	1	25,0000	25,0000	NUM
cjfa-10416	420	2	-5	-5	NOUN
cjfa-10416	420	3	-4	-4	INTJ
cjfa-10416	420	4	-3	-3	INTJ
cjfa-10416	420	5	-2	-2	INTJ
cjfa-10416	421	1	-1	-1	NOUN
cjfa-10416	421	2	0	0	PUNCT
cjfa-10416	422	1	+1	+1	ADJ
cjfa-10416	422	2	+2	+2	PROPN
cjfa-10416	422	3	+3	+3	PROPN
cjfa-10416	422	4	+4	+4	PROPN
cjfa-10416	423	1	+5	+5	PROPN
cjfa-10416	423	2	weeks	week	NOUN
cjfa-10416	423	3	(	(	PUNCT
cjfa-10416	423	4	announcement	announcement	NOUN
cjfa-10416	423	5	period	period	NOUN
cjfa-10416	423	6	)	)	PUNCT
cjfa-10416	423	7	0,0000	0,0000	NUM
cjfa-10416	424	1	5,0000	5,0000	NUM
cjfa-10416	424	2	10,0000	10,0000	NUM
cjfa-10416	424	3	15,0000	15,0000	NUM
cjfa-10416	424	4	20,0000	20,0000	NUM
cjfa-10416	424	5	25,0000	25,0000	NUM
cjfa-10416	424	6	weeks	week	NOUN
cjfa-10416	424	7	s	s	PART
cjfa-10416	424	8	o	o	NOUN
cjfa-10416	424	9	u	u	NOUN
cjfa-10416	424	10	r	r	NOUN
cjfa-10416	424	11	c	c	NOUN
cjfa-10416	424	12	e	e	NOUN
cjfa-10416	424	13	:	:	PUNCT
cjfa-10416	424	14	elaboration	elaboration	NOUN
cjfa-10416	424	15	of	of	ADP
cjfa-10416	424	16	the	the	DET
cjfa-10416	424	17	author	author	NOUN
cjfa-10416	424	18	.	.	PUNCT
cjfa-10416	425	1	graphs	graph	VERB
cjfa-10416	425	2	7	7	NUM
cjfa-10416	425	3	and	and	CCONJ
cjfa-10416	425	4	8	8	NUM
cjfa-10416	425	5	show	show	VERB
cjfa-10416	425	6	the	the	DET
cjfa-10416	425	7	consolidated	consolidated	ADJ
cjfa-10416	425	8	effect	effect	NOUN
cjfa-10416	425	9	of	of	ADP
cjfa-10416	425	10	the	the	DET
cjfa-10416	425	11	graphs	graph	NOUN
cjfa-10416	425	12	presented	present	VERB
cjfa-10416	425	13	before	before	ADV
cjfa-10416	425	14	,	,	PUNCT
cjfa-10416	425	15	such	such	ADJ
cjfa-10416	425	16	as	as	ADP
cjfa-10416	425	17	graphs	graph	NOUN
cjfa-10416	425	18	5	5	NUM
cjfa-10416	425	19	and	and	CCONJ
cjfa-10416	425	20	6	6	NUM
cjfa-10416	425	21	,	,	PUNCT
cjfa-10416	425	22	confirming	confirm	VERB
cjfa-10416	425	23	the	the	DET
cjfa-10416	425	24	strong	strong	ADJ
cjfa-10416	425	25	impact	impact	NOUN
cjfa-10416	425	26	of	of	ADP
cjfa-10416	425	27	the	the	DET
cjfa-10416	425	28	announcement	announcement	NOUN
cjfa-10416	425	29	.	.	PUNCT
cjfa-10416	426	1	facts	fact	NOUN
cjfa-10416	426	2	such	such	ADJ
cjfa-10416	426	3	as	as	ADP
cjfa-10416	426	4	“	"	PUNCT
cjfa-10416	426	5	peaks	peak	NOUN
cjfa-10416	426	6	”	"	PUNCT
cjfa-10416	426	7	in	in	ADP
cjfa-10416	426	8	the	the	DET
cjfa-10416	426	9	weeks	week	NOUN
cjfa-10416	426	10	0	0	NUM
cjfa-10416	426	11	and	and	CCONJ
cjfa-10416	426	12	+2	+2	PROPN
cjfa-10416	426	13	,	,	PUNCT
cjfa-10416	426	14	integrated	integrate	VERB
cjfa-10416	426	15	in	in	ADP
cjfa-10416	426	16	a	a	DET
cjfa-10416	426	17	larger	large	ADJ
cjfa-10416	426	18	period	period	NOUN
cjfa-10416	426	19	,	,	PUNCT
cjfa-10416	426	20	further	far	ADV
cjfa-10416	426	21	to	to	ADP
cjfa-10416	426	22	the	the	DET
cjfa-10416	426	23	preliminary	preliminary	ADJ
cjfa-10416	426	24	announcement	announcement	NOUN
cjfa-10416	426	25	date	date	NOUN
cjfa-10416	426	26	,	,	PUNCT
cjfa-10416	426	27	considering	consider	VERB
cjfa-10416	426	28	the	the	DET
cjfa-10416	426	29	entire	entire	ADJ
cjfa-10416	426	30	period	period	NOUN
cjfa-10416	426	31	in	in	ADP
cjfa-10416	426	32	study	study	NOUN
cjfa-10416	426	33	(	(	PUNCT
cjfa-10416	426	34	between	between	ADP
cjfa-10416	426	35	weeks	week	NOUN
cjfa-10416	426	36	-18	-18	PUNCT
cjfa-10416	426	37	and	and	CCONJ
cjfa-10416	426	38	+18	+18	ADJ
cjfa-10416	426	39	)	)	PUNCT
cjfa-10416	426	40	.	.	PUNCT
cjfa-10416	427	1	the	the	DET
cjfa-10416	427	2	results	result	NOUN
cjfa-10416	427	3	for	for	ADP
cjfa-10416	427	4	acquiring	acquire	VERB
cjfa-10416	427	5	and	and	CCONJ
cjfa-10416	427	6	target	target	VERB
cjfa-10416	427	7	companies	company	NOUN
cjfa-10416	427	8	confirm	confirm	VERB
cjfa-10416	427	9	the	the	DET
cjfa-10416	427	10	working	work	VERB
cjfa-10416	427	11	hypothesis	hypothesis	NOUN
cjfa-10416	427	12	h4	h4	NOUN
cjfa-10416	427	13	mentioned	mention	VERB
cjfa-10416	427	14	before	before	ADV
cjfa-10416	427	15	.	.	PUNCT
cjfa-10416	428	1	joão	joão	PROPN
cjfa-10416	428	2	paulo	paulo	PROPN
cjfa-10416	428	3	braga	braga	PROPN
cjfa-10416	428	4	,	,	PUNCT
cjfa-10416	428	5	luís	luís	PROPN
cjfa-10416	428	6	m.	m.	PROPN
cjfa-10416	428	7	pereira	pereira	PROPN
cjfa-10416	428	8	gomes58	gomes58	VERB
cjfa-10416	428	9	descriptive	descriptive	ADJ
cjfa-10416	428	10	statistic	statistic	NOUN
cjfa-10416	428	11	analysis	analysis	NOUN
cjfa-10416	428	12	:	:	PUNCT
cjfa-10416	428	13	the	the	DET
cjfa-10416	428	14	following	follow	VERB
cjfa-10416	428	15	tables	table	NOUN
cjfa-10416	428	16	show	show	VERB
cjfa-10416	428	17	some	some	DET
cjfa-10416	428	18	descriptive	descriptive	ADJ
cjfa-10416	428	19	statistics	statistic	NOUN
cjfa-10416	428	20	to	to	PART
cjfa-10416	428	21	analyze	analyze	VERB
cjfa-10416	428	22	the	the	DET
cjfa-10416	428	23	behavior	behavior	NOUN
cjfa-10416	428	24	of	of	ADP
cjfa-10416	428	25	the	the	DET
cjfa-10416	428	26	stock	stock	NOUN
cjfa-10416	428	27	returns	return	NOUN
cjfa-10416	428	28	of	of	ADP
cjfa-10416	428	29	companies	company	NOUN
cjfa-10416	428	30	involved	involve	VERB
cjfa-10416	428	31	in	in	ADP
cjfa-10416	428	32	takeover	takeover	NOUN
cjfa-10416	428	33	bids	bid	NOUN
cjfa-10416	428	34	and	and	CCONJ
cjfa-10416	428	35	of	of	ADP
cjfa-10416	428	36	the	the	DET
cjfa-10416	428	37	returns	return	NOUN
cjfa-10416	428	38	of	of	ADP
cjfa-10416	428	39	the	the	DET
cjfa-10416	428	40	market	market	NOUN
cjfa-10416	428	41	index	index	NOUN
cjfa-10416	428	42	(	(	PUNCT
cjfa-10416	428	43	psi-20	psi-20	NOUN
cjfa-10416	428	44	)	)	PUNCT
cjfa-10416	428	45	,	,	PUNCT
cjfa-10416	428	46	both	both	CCONJ
cjfa-10416	428	47	in	in	ADP
cjfa-10416	428	48	the	the	DET
cjfa-10416	428	49	period	period	NOUN
cjfa-10416	428	50	further	far	ADV
cjfa-10416	428	51	to	to	ADP
cjfa-10416	428	52	the	the	DET
cjfa-10416	428	53	preliminary	preliminary	ADJ
cjfa-10416	428	54	announcement	announcement	NOUN
cjfa-10416	428	55	date	date	NOUN
cjfa-10416	428	56	(	(	PUNCT
cjfa-10416	428	57	weeks	week	NOUN
cjfa-10416	428	58	-18	-18	PUNCT
cjfa-10416	428	59	to	to	PART
cjfa-10416	428	60	-6	-6	NOUN
cjfa-10416	428	61	and	and	CCONJ
cjfa-10416	428	62	weeks	week	NOUN
cjfa-10416	428	63	+6	+6	PROPN
cjfa-10416	428	64	to	to	PART
cjfa-10416	428	65	+18	+18	ADJ
cjfa-10416	428	66	)	)	PUNCT
cjfa-10416	428	67	,	,	PUNCT
cjfa-10416	428	68	as	as	ADV
cjfa-10416	428	69	well	well	ADV
cjfa-10416	428	70	as	as	ADP
cjfa-10416	428	71	in	in	ADP
cjfa-10416	428	72	the	the	DET
cjfa-10416	428	73	period	period	NOUN
cjfa-10416	428	74	close	close	ADV
cjfa-10416	428	75	to	to	ADP
cjfa-10416	428	76	the	the	DET
cjfa-10416	428	77	preliminary	preliminary	ADJ
cjfa-10416	428	78	announcement	announcement	NOUN
cjfa-10416	428	79	date	date	NOUN
cjfa-10416	428	80	(	(	PUNCT
cjfa-10416	428	81	weeks	week	NOUN
cjfa-10416	428	82	-5	-5	ADJ
cjfa-10416	428	83	to	to	ADP
cjfa-10416	428	84	+5	+5	PROPN
cjfa-10416	428	85	)	)	PUNCT
cjfa-10416	428	86	.	.	PUNCT
cjfa-10416	429	1	the	the	DET
cjfa-10416	429	2	returns	return	NOUN
cjfa-10416	429	3	are	be	AUX
cjfa-10416	429	4	calculated	calculate	VERB
cjfa-10416	429	5	in	in	ADP
cjfa-10416	429	6	logarithmic	logarithmic	ADJ
cjfa-10416	429	7	measures	measure	NOUN
cjfa-10416	429	8	(	(	PUNCT
cjfa-10416	429	9	log	log	NOUN
cjfa-10416	429	10	)	)	PUNCT
cjfa-10416	429	11	and	and	CCONJ
cjfa-10416	429	12	compared	compare	VERB
cjfa-10416	429	13	with	with	ADP
cjfa-10416	429	14	returns	return	NOUN
cjfa-10416	429	15	calculated	calculate	VERB
cjfa-10416	429	16	in	in	ADP
cjfa-10416	429	17	classical	classical	ADJ
cjfa-10416	429	18	measures	measure	NOUN
cjfa-10416	429	19	(	(	PUNCT
cjfa-10416	429	20	clss	clss	PROPN
cjfa-10416	429	21	)	)	PUNCT
cjfa-10416	429	22	.	.	PUNCT
cjfa-10416	430	1	table	table	NOUN
cjfa-10416	430	2	3	3	NUM
cjfa-10416	430	3	shows	show	VERB
cjfa-10416	430	4	the	the	DET
cjfa-10416	430	5	statistics	statistic	NOUN
cjfa-10416	430	6	of	of	ADP
cjfa-10416	430	7	mean	mean	ADJ
cjfa-10416	430	8	,	,	PUNCT
cjfa-10416	430	9	standard	standard	ADJ
cjfa-10416	430	10	deviation	deviation	NOUN
cjfa-10416	430	11	,	,	PUNCT
cjfa-10416	430	12	skewness	skewness	NOUN
cjfa-10416	430	13	,	,	PUNCT
cjfa-10416	430	14	kurtosis	kurtosis	NOUN
cjfa-10416	430	15	and	and	CCONJ
cjfa-10416	430	16	the	the	DET
cjfa-10416	430	17	returns	return	NOUN
cjfa-10416	430	18	normality	normality	NOUN
cjfa-10416	430	19	test	test	NOUN
cjfa-10416	430	20	(	(	PUNCT
cjfa-10416	430	21	jarque	jarque	NOUN
cjfa-10416	430	22	-	-	PUNCT
cjfa-10416	430	23	bera	bera	NOUN
cjfa-10416	430	24	)	)	PUNCT
cjfa-10416	430	25	for	for	ADP
cjfa-10416	430	26	acquiring	acquire	VERB
cjfa-10416	430	27	and	and	CCONJ
cjfa-10416	430	28	target	target	VERB
cjfa-10416	430	29	companies	company	NOUN
cjfa-10416	430	30	,	,	PUNCT
cjfa-10416	430	31	as	as	ADV
cjfa-10416	430	32	well	well	ADV
cjfa-10416	430	33	as	as	ADP
cjfa-10416	430	34	for	for	ADP
cjfa-10416	430	35	the	the	DET
cjfa-10416	430	36	market	market	NOUN
cjfa-10416	430	37	index	index	NOUN
cjfa-10416	430	38	,	,	PUNCT
cjfa-10416	430	39	in	in	ADP
cjfa-10416	430	40	the	the	DET
cjfa-10416	430	41	period	period	NOUN
cjfa-10416	430	42	further	far	ADV
cjfa-10416	430	43	to	to	ADP
cjfa-10416	430	44	the	the	DET
cjfa-10416	430	45	preliminary	preliminary	ADJ
cjfa-10416	430	46	announcement	announcement	NOUN
cjfa-10416	430	47	date	date	NOUN
cjfa-10416	430	48	:	:	PUNCT
cjfa-10416	430	49	table	table	NOUN
cjfa-10416	430	50	3	3	NUM
cjfa-10416	430	51	.	.	PUNCT
cjfa-10416	430	52	statistics	statistic	NOUN
cjfa-10416	430	53	of	of	ADP
cjfa-10416	430	54	the	the	DET
cjfa-10416	430	55	returns	return	NOUN
cjfa-10416	430	56	of	of	ADP
cjfa-10416	430	57	the	the	DET
cjfa-10416	430	58	companies	company	NOUN
cjfa-10416	430	59	involved	involve	VERB
cjfa-10416	430	60	and	and	CCONJ
cjfa-10416	430	61	of	of	ADP
cjfa-10416	430	62	the	the	DET
cjfa-10416	430	63	market	market	NOUN
cjfa-10416	430	64	index	index	NOUN
cjfa-10416	430	65	period	period	NOUN
cjfa-10416	430	66	further	far	ADV
cjfa-10416	430	67	to	to	ADP
cjfa-10416	430	68	the	the	DET
cjfa-10416	430	69	preliminary	preliminary	ADJ
cjfa-10416	430	70	announcement	announcement	NOUN
cjfa-10416	430	71	(	(	PUNCT
cjfa-10416	430	72	weeks	week	NOUN
cjfa-10416	430	73	-18	-18	PUNCT
cjfa-10416	430	74	to	to	PART
cjfa-10416	430	75	-6	-6	NOUN
cjfa-10416	430	76	and	and	CCONJ
cjfa-10416	430	77	weeks	week	NOUN
cjfa-10416	430	78	+6	+6	PROPN
cjfa-10416	430	79	to	to	PART
cjfa-10416	430	80	+18	+18	VERB
cjfa-10416	430	81	)	)	PUNCT
cjfa-10416	430	82	acquiring	acquire	VERB
cjfa-10416	430	83	target	target	NOUN
cjfa-10416	430	84	market	market	NOUN
cjfa-10416	430	85	index	index	NOUN
cjfa-10416	430	86	clss	clss	NOUN
cjfa-10416	430	87	log	log	NOUN
cjfa-10416	430	88	clss	clss	PROPN
cjfa-10416	430	89	log	log	NOUN
cjfa-10416	430	90	clss	clss	PROPN
cjfa-10416	430	91	log	log	PROPN
cjfa-10416	430	92	y(1	y(1	PROPN
cjfa-10416	430	93	)	)	PUNCT
cjfa-10416	430	94	y(1	y(1	PROPN
cjfa-10416	430	95	)	)	PUNCT
cjfa-10416	430	96	y(1	y(1	PROPN
cjfa-10416	430	97	)	)	PUNCT
cjfa-10416	430	98	y(1	y(1	PROPN
cjfa-10416	430	99	)	)	PUNCT
cjfa-10416	430	100	y(1	y(1	PROPN
cjfa-10416	430	101	)	)	PUNCT
cjfa-10416	430	102	y(1	y(1	PROPN
cjfa-10416	430	103	)	)	PUNCT
cjfa-10416	430	104	-0,0014	-0,0014	PROPN
cjfa-10416	430	105	-0,0023	-0,0023	PROPN
cjfa-10416	430	106	0,0035	0,0035	NOUN
cjfa-10416	430	107	0,0029	0,0029	PROPN
cjfa-10416	430	108	-0,0001	-0,0001	PROPN
cjfa-10416	431	1	-0,0004	-0,0004	PROPN
cjfa-10416	431	2	y(2	y(2	PROPN
cjfa-10416	431	3	)	)	PUNCT
cjfa-10416	431	4	y(2	y(2	PROPN
cjfa-10416	431	5	)	)	PUNCT
cjfa-10416	431	6	y(2	y(2	PROPN
cjfa-10416	431	7	)	)	PUNCT
cjfa-10416	431	8	y(2	y(2	PROPN
cjfa-10416	431	9	)	)	PUNCT
cjfa-10416	431	10	y(2	y(2	PROPN
cjfa-10416	431	11	)	)	PUNCT
cjfa-10416	431	12	y(2	y(2	NOUN
cjfa-10416	431	13	)	)	PUNCT
cjfa-10416	431	14	0,0135	0,0135	NOUN
cjfa-10416	432	1	0,0132	0,0132	PROPN
cjfa-10416	432	2	0,0103	0,0103	NOUN
cjfa-10416	432	3	0,0100	0,0100	PROPN
cjfa-10416	432	4	0,0080	0,0080	PROPN
cjfa-10416	432	5	0,0081	0,0081	PROPN
cjfa-10416	432	6	y(3	y(3	PROPN
cjfa-10416	432	7	)	)	PUNCT
cjfa-10416	433	1	y(3	y(3	PROPN
cjfa-10416	433	2	)	)	PUNCT
cjfa-10416	433	3	y(3	y(3	PROPN
cjfa-10416	433	4	)	)	PUNCT
cjfa-10416	434	1	y(3	y(3	PROPN
cjfa-10416	434	2	)	)	PUNCT
cjfa-10416	434	3	y(3	y(3	PROPN
cjfa-10416	434	4	)	)	PUNCT
cjfa-10416	434	5	y(3	y(3	PROPN
cjfa-10416	434	6	)	)	PUNCT
cjfa-10416	434	7	0,3197	0,3197	PROPN
cjfa-10416	434	8	0,1407	0,1407	NOUN
cjfa-10416	434	9	0,8593	0,8593	NOUN
cjfa-10416	434	10	0,7493	0,7493	NUM
cjfa-10416	434	11	-0,4504	-0,4504	PROPN
cjfa-10416	434	12	-0,4973	-0,4973	PROPN
cjfa-10416	434	13	asymmetric	asymmetric	ADJ
cjfa-10416	434	14	dist	dist	NOUN
cjfa-10416	434	15	to	to	ADP
cjfa-10416	434	16	the	the	DET
cjfa-10416	434	17	right	right	ADJ
cjfa-10416	434	18	asymmetric	asymmetric	ADJ
cjfa-10416	434	19	dist	dist	NOUN
cjfa-10416	434	20	to	to	ADP
cjfa-10416	434	21	the	the	DET
cjfa-10416	434	22	right	right	ADJ
cjfa-10416	434	23	asymmetric	asymmetric	ADJ
cjfa-10416	434	24	dist	dist	NOUN
cjfa-10416	434	25	to	to	ADP
cjfa-10416	434	26	the	the	DET
cjfa-10416	434	27	right	right	ADJ
cjfa-10416	434	28	asymmetric	asymmetric	ADJ
cjfa-10416	434	29	dist	dist	NOUN
cjfa-10416	434	30	to	to	ADP
cjfa-10416	434	31	the	the	DET
cjfa-10416	434	32	right	right	ADJ
cjfa-10416	434	33	asymmetric	asymmetric	ADJ
cjfa-10416	434	34	dist	dist	NOUN
cjfa-10416	434	35	to	to	ADP
cjfa-10416	434	36	the	the	DET
cjfa-10416	434	37	left	left	ADJ
cjfa-10416	434	38	asymmetric	asymmetric	ADJ
cjfa-10416	434	39	dist	dist	NOUN
cjfa-10416	434	40	to	to	ADP
cjfa-10416	434	41	the	the	DET
cjfa-10416	434	42	left	left	ADJ
cjfa-10416	434	43	y(4	y(4	PROPN
cjfa-10416	434	44	)	)	PUNCT
cjfa-10416	434	45	y(4	y(4	PROPN
cjfa-10416	434	46	)	)	PUNCT
cjfa-10416	434	47	y(4	y(4	PROPN
cjfa-10416	434	48	)	)	PUNCT
cjfa-10416	434	49	y(4	y(4	PROPN
cjfa-10416	434	50	)	)	PUNCT
cjfa-10416	434	51	y(4	y(4	PROPN
cjfa-10416	434	52	)	)	PUNCT
cjfa-10416	434	53	y(4	y(4	PROPN
cjfa-10416	434	54	)	)	PUNCT
cjfa-10416	434	55	-0,2532	-0,2532	PROPN
cjfa-10416	434	56	-0,5868	-0,5868	PROPN
cjfa-10416	434	57	0,2345	0,2345	PROPN
cjfa-10416	434	58	0,0687	0,0687	NOUN
cjfa-10416	434	59	-0,1620	-0,1620	PROPN
cjfa-10416	434	60	-0,1074	-0,1074	PROPN
cjfa-10416	434	61	platykurtic	platykurtic	ADJ
cjfa-10416	434	62	dist	dist	NOUN
cjfa-10416	434	63	.	.	PUNCT
cjfa-10416	435	1	platykurtic	platykurtic	ADJ
cjfa-10416	435	2	dist	dist	NOUN
cjfa-10416	435	3	.	.	PUNCT
cjfa-10416	436	1	leptokurtic	leptokurtic	ADJ
cjfa-10416	436	2	dist	dist	NOUN
cjfa-10416	436	3	.	.	PUNCT
cjfa-10416	437	1	leptokurtic	leptokurtic	ADJ
cjfa-10416	437	2	dist	dist	NOUN
cjfa-10416	437	3	.	.	PUNCT
cjfa-10416	438	1	platykurtic	platykurtic	ADJ
cjfa-10416	438	2	dist	dist	NOUN
cjfa-10416	438	3	.	.	PUNCT
cjfa-10416	439	1	platykurtic	platykurtic	ADJ
cjfa-10416	439	2	dist	dist	NOUN
cjfa-10416	439	3	.	.	PUNCT
cjfa-10416	440	1	returns	return	VERB
cjfa-10416	440	2	normality	normality	NOUN
cjfa-10416	440	3	test	test	NOUN
cjfa-10416	440	4	(	(	PUNCT
cjfa-10416	440	5	jarque	jarque	NOUN
cjfa-10416	440	6	-	-	PUNCT
cjfa-10416	440	7	bera	bera	NOUN
cjfa-10416	440	8	)	)	PUNCT
cjfa-10416	440	9	(	(	PUNCT
cjfa-10416	440	10	chi	chi	ADJ
cjfa-10416	440	11	-	-	PUNCT
cjfa-10416	440	12	square	square	ADJ
cjfa-10416	440	13	test	test	NOUN
cjfa-10416	440	14	)	)	PUNCT
cjfa-10416	441	1	11,9078	11,9078	NUM
cjfa-10416	441	2	14,0232	14,0232	NUM
cjfa-10416	441	3	11,4851	11,4851	NUM
cjfa-10416	441	4	11,7414	11,7414	NUM
cjfa-10416	441	5	11,7100	11,7100	NUM
cjfa-10416	442	1	11,5320	11,5320	NUM
cjfa-10416	442	2	s	s	PART
cjfa-10416	442	3	o	o	X
cjfa-10416	442	4	u	u	NOUN
cjfa-10416	442	5	r	r	NOUN
cjfa-10416	442	6	c	c	NOUN
cjfa-10416	442	7	e	e	NOUN
cjfa-10416	442	8	:	:	PUNCT
cjfa-10416	442	9	elaboration	elaboration	NOUN
cjfa-10416	442	10	of	of	ADP
cjfa-10416	442	11	the	the	DET
cjfa-10416	442	12	author	author	NOUN
cjfa-10416	442	13	.	.	PUNCT
cjfa-10416	443	1	the	the	DET
cjfa-10416	443	2	impact	impact	NOUN
cjfa-10416	443	3	of	of	ADP
cjfa-10416	443	4	the	the	DET
cjfa-10416	443	5	preliminary	preliminary	ADJ
cjfa-10416	443	6	announcement	announcement	NOUN
cjfa-10416	443	7	…	…	PUNCT
cjfa-10416	443	8	59	59	NUM
cjfa-10416	443	9	the	the	DET
cjfa-10416	443	10	results	result	NOUN
cjfa-10416	443	11	show	show	VERB
cjfa-10416	443	12	the	the	DET
cjfa-10416	443	13	homogeneity	homogeneity	NOUN
cjfa-10416	443	14	between	between	ADP
cjfa-10416	443	15	the	the	DET
cjfa-10416	443	16	calculated	calculate	VERB
cjfa-10416	443	17	returns	return	NOUN
cjfa-10416	443	18	via	via	ADP
cjfa-10416	443	19	the	the	DET
cjfa-10416	443	20	logarithmic	logarithmic	ADJ
cjfa-10416	443	21	and	and	CCONJ
cjfa-10416	443	22	classical	classical	ADJ
cjfa-10416	443	23	measures	measure	NOUN
cjfa-10416	443	24	,	,	PUNCT
cjfa-10416	443	25	since	since	SCONJ
cjfa-10416	443	26	the	the	DET
cjfa-10416	443	27	empirical	empirical	ADJ
cjfa-10416	443	28	research	research	NOUN
cjfa-10416	443	29	used	use	VERB
cjfa-10416	443	30	the	the	DET
cjfa-10416	443	31	first	first	ADJ
cjfa-10416	443	32	procedure	procedure	NOUN
cjfa-10416	443	33	as	as	SCONJ
cjfa-10416	443	34	it	it	PRON
cjfa-10416	443	35	happens	happen	VERB
cjfa-10416	443	36	with	with	ADP
cjfa-10416	443	37	most	most	ADJ
cjfa-10416	443	38	of	of	ADP
cjfa-10416	443	39	the	the	DET
cjfa-10416	443	40	investigative	investigative	ADJ
cjfa-10416	443	41	works	work	NOUN
cjfa-10416	443	42	in	in	ADP
cjfa-10416	443	43	the	the	DET
cjfa-10416	443	44	area	area	NOUN
cjfa-10416	443	45	of	of	ADP
cjfa-10416	443	46	finance	finance	NOUN
cjfa-10416	443	47	.	.	PUNCT
cjfa-10416	444	1	as	as	SCONJ
cjfa-10416	444	2	expected	expect	VERB
cjfa-10416	444	3	for	for	ADP
cjfa-10416	444	4	a	a	DET
cjfa-10416	444	5	time	time	NOUN
cjfa-10416	444	6	series	series	NOUN
cjfa-10416	444	7	with	with	ADP
cjfa-10416	444	8	a	a	DET
cjfa-10416	444	9	small	small	ADJ
cjfa-10416	444	10	dimension	dimension	NOUN
cjfa-10416	444	11	(	(	PUNCT
cjfa-10416	444	12	26	26	NUM
cjfa-10416	444	13	observations	observation	NOUN
cjfa-10416	444	14	)	)	PUNCT
cjfa-10416	444	15	,	,	PUNCT
cjfa-10416	444	16	the	the	DET
cjfa-10416	444	17	means	mean	NOUN
cjfa-10416	444	18	and	and	CCONJ
cjfa-10416	444	19	variances	variance	NOUN
cjfa-10416	444	20	of	of	ADP
cjfa-10416	444	21	the	the	DET
cjfa-10416	444	22	returns	return	NOUN
cjfa-10416	444	23	are	be	AUX
cjfa-10416	444	24	reduced	reduce	VERB
cjfa-10416	444	25	for	for	ADP
cjfa-10416	444	26	acquiring	acquire	VERB
cjfa-10416	444	27	companies	company	NOUN
cjfa-10416	444	28	,	,	PUNCT
cjfa-10416	444	29	for	for	ADP
cjfa-10416	444	30	target	target	NOUN
cjfa-10416	444	31	companies	company	NOUN
cjfa-10416	444	32	and	and	CCONJ
cjfa-10416	444	33	for	for	ADP
cjfa-10416	444	34	the	the	DET
cjfa-10416	444	35	market	market	NOUN
cjfa-10416	444	36	index	index	NOUN
cjfa-10416	444	37	.	.	PUNCT
cjfa-10416	445	1	moreover	moreover	ADV
cjfa-10416	445	2	,	,	PUNCT
cjfa-10416	445	3	the	the	DET
cjfa-10416	445	4	skewness	skewness	NOUN
cjfa-10416	445	5	and	and	CCONJ
cjfa-10416	445	6	kurtosis	kurtosis	VERB
cjfa-10416	445	7	coefficients	coefficient	NOUN
cjfa-10416	445	8	are	be	AUX
cjfa-10416	445	9	n’t	not	PART
cjfa-10416	445	10	null	null	ADJ
cjfa-10416	445	11	,	,	PUNCT
cjfa-10416	445	12	reveling	revel	VERB
cjfa-10416	445	13	that	that	SCONJ
cjfa-10416	445	14	the	the	DET
cjfa-10416	445	15	data	datum	NOUN
cjfa-10416	445	16	do	do	AUX
cjfa-10416	445	17	n’t	not	PART
cjfa-10416	445	18	have	have	VERB
cjfa-10416	445	19	a	a	DET
cjfa-10416	445	20	normal	normal	ADJ
cjfa-10416	445	21	distribution	distribution	NOUN
cjfa-10416	445	22	during	during	ADP
cjfa-10416	445	23	the	the	DET
cjfa-10416	445	24	period	period	NOUN
cjfa-10416	445	25	further	far	ADV
cjfa-10416	445	26	to	to	ADP
cjfa-10416	445	27	the	the	DET
cjfa-10416	445	28	preliminary	preliminary	ADJ
cjfa-10416	445	29	announcement	announcement	NOUN
cjfa-10416	445	30	date	date	NOUN
cjfa-10416	445	31	(	(	PUNCT
cjfa-10416	445	32	weeks	week	NOUN
cjfa-10416	445	33	-18	-18	PUNCT
cjfa-10416	445	34	to	to	PART
cjfa-10416	445	35	-6	-6	NOUN
cjfa-10416	445	36	and	and	CCONJ
cjfa-10416	445	37	weeks	week	NOUN
cjfa-10416	445	38	+6	+6	PROPN
cjfa-10416	445	39	to	to	PART
cjfa-10416	445	40	+18	+18	ADJ
cjfa-10416	445	41	)	)	PUNCT
cjfa-10416	445	42	.	.	PUNCT
cjfa-10416	446	1	complementary	complementary	PROPN
cjfa-10416	446	2	,	,	PUNCT
cjfa-10416	446	3	the	the	DET
cjfa-10416	446	4	null	null	ADJ
cjfa-10416	446	5	hypothesis	hypothesis	NOUN
cjfa-10416	446	6	of	of	ADP
cjfa-10416	446	7	the	the	DET
cjfa-10416	446	8	returns	return	NOUN
cjfa-10416	446	9	normal	normal	ADJ
cjfa-10416	446	10	distribution	distribution	NOUN
cjfa-10416	446	11	is	be	AUX
cjfa-10416	446	12	rejected	reject	VERB
cjfa-10416	446	13	by	by	ADP
cjfa-10416	446	14	the	the	DET
cjfa-10416	446	15	jarque	jarque	NOUN
cjfa-10416	446	16	-	-	PUNCT
cjfa-10416	446	17	bera	bera	NOUN
cjfa-10416	446	18	test	test	NOUN
cjfa-10416	446	19	at	at	ADP
cjfa-10416	446	20	a	a	DET
cjfa-10416	446	21	significance	significance	NOUN
cjfa-10416	446	22	level	level	NOUN
cjfa-10416	446	23	of	of	ADP
cjfa-10416	446	24	5	5	NUM
cjfa-10416	446	25	%	%	NOUN
cjfa-10416	446	26	(	(	PUNCT
cjfa-10416	446	27	with	with	ADP
cjfa-10416	446	28	2	2	NUM
cjfa-10416	446	29	degrees	degree	NOUN
cjfa-10416	446	30	of	of	ADP
cjfa-10416	446	31	freedom	freedom	NOUN
cjfa-10416	446	32	)	)	PUNCT
cjfa-10416	446	33	with	with	ADP
cjfa-10416	446	34	the	the	DET
cjfa-10416	446	35	critical	critical	ADJ
cjfa-10416	446	36	value	value	NOUN
cjfa-10416	446	37	from	from	ADP
cjfa-10416	446	38	the	the	DET
cjfa-10416	446	39	chisquare	chisquare	NOUN
cjfa-10416	446	40	distribution	distribution	NOUN
cjfa-10416	446	41	equal	equal	ADJ
cjfa-10416	446	42	to	to	ADP
cjfa-10416	446	43	5,991	5,991	NUM
cjfa-10416	446	44	.	.	PUNCT
cjfa-10416	447	1	table	table	NOUN
cjfa-10416	447	2	4	4	NUM
cjfa-10416	447	3	presents	present	VERB
cjfa-10416	447	4	the	the	DET
cjfa-10416	447	5	statistic	statistic	NOUN
cjfa-10416	447	6	of	of	ADP
cjfa-10416	447	7	the	the	DET
cjfa-10416	447	8	average	average	NOUN
cjfa-10416	447	9	of	of	ADP
cjfa-10416	447	10	the	the	DET
cjfa-10416	447	11	simple	simple	ADJ
cjfa-10416	447	12	returns	return	NOUN
cjfa-10416	447	13	of	of	ADP
cjfa-10416	447	14	the	the	DET
cjfa-10416	447	15	companies	company	NOUN
cjfa-10416	447	16	involved	involve	VERB
cjfa-10416	447	17	in	in	ADP
cjfa-10416	447	18	takeover	takeover	NOUN
cjfa-10416	447	19	bids	bid	NOUN
cjfa-10416	447	20	and	and	CCONJ
cjfa-10416	447	21	of	of	ADP
cjfa-10416	447	22	the	the	DET
cjfa-10416	447	23	market	market	NOUN
cjfa-10416	447	24	index	index	NOUN
cjfa-10416	447	25	,	,	PUNCT
cjfa-10416	447	26	in	in	ADP
cjfa-10416	447	27	relation	relation	NOUN
cjfa-10416	447	28	to	to	ADP
cjfa-10416	447	29	the	the	DET
cjfa-10416	447	30	period	period	NOUN
cjfa-10416	447	31	close	close	ADV
cjfa-10416	447	32	to	to	ADP
cjfa-10416	447	33	the	the	DET
cjfa-10416	447	34	preliminary	preliminary	ADJ
cjfa-10416	447	35	announcement	announcement	NOUN
cjfa-10416	447	36	:	:	PUNCT
cjfa-10416	447	37	table	table	NOUN
cjfa-10416	447	38	4	4	NUM
cjfa-10416	447	39	.	.	PUNCT
cjfa-10416	447	40	average	average	ADJ
cjfa-10416	447	41	returns	return	NOUN
cjfa-10416	447	42	of	of	ADP
cjfa-10416	447	43	the	the	DET
cjfa-10416	447	44	companies	company	NOUN
cjfa-10416	447	45	involved	involve	VERB
cjfa-10416	447	46	and	and	CCONJ
cjfa-10416	447	47	of	of	ADP
cjfa-10416	447	48	the	the	DET
cjfa-10416	447	49	market	market	NOUN
cjfa-10416	447	50	index	index	NOUN
cjfa-10416	447	51	period	period	NOUN
cjfa-10416	447	52	close	close	ADV
cjfa-10416	447	53	to	to	ADP
cjfa-10416	447	54	the	the	DET
cjfa-10416	447	55	preliminary	preliminary	ADJ
cjfa-10416	447	56	announcement	announcement	NOUN
cjfa-10416	447	57	(	(	PUNCT
cjfa-10416	447	58	weeks	week	NOUN
cjfa-10416	447	59	-5	-5	ADJ
cjfa-10416	447	60	to	to	ADP
cjfa-10416	447	61	+5	+5	ADV
cjfa-10416	447	62	)	)	PUNCT
cjfa-10416	447	63	acquiring	acquire	VERB
cjfa-10416	447	64	target	target	NOUN
cjfa-10416	447	65	market	market	NOUN
cjfa-10416	447	66	index	index	NOUN
cjfa-10416	447	67	clss	clss	NOUN
cjfa-10416	447	68	log	log	NOUN
cjfa-10416	447	69	clss	clss	PROPN
cjfa-10416	447	70	log	log	NOUN
cjfa-10416	447	71	clss	clss	PROPN
cjfa-10416	447	72	log	log	PROPN
cjfa-10416	447	73	y(1	y(1	PROPN
cjfa-10416	447	74	)	)	PUNCT
cjfa-10416	447	75	y(1	y(1	PROPN
cjfa-10416	447	76	)	)	PUNCT
cjfa-10416	447	77	y(1	y(1	PROPN
cjfa-10416	447	78	)	)	PUNCT
cjfa-10416	447	79	y(1	y(1	PROPN
cjfa-10416	447	80	)	)	PUNCT
cjfa-10416	447	81	y(1	y(1	PROPN
cjfa-10416	447	82	)	)	PUNCT
cjfa-10416	447	83	y(1	y(1	PROPN
cjfa-10416	447	84	)	)	PUNCT
cjfa-10416	447	85	0,0013	0,0013	PROPN
cjfa-10416	447	86	0,0006	0,0006	NOUN
cjfa-10416	447	87	0,0137	0,0137	VERB
cjfa-10416	447	88	0,0110	0,0110	PROPN
cjfa-10416	447	89	0,0044	0,0044	PROPN
cjfa-10416	447	90	0,0041	0,0041	PROPN
cjfa-10416	447	91	s	s	PART
cjfa-10416	447	92	o	o	NOUN
cjfa-10416	447	93	u	u	NOUN
cjfa-10416	447	94	r	r	NOUN
cjfa-10416	447	95	c	c	NOUN
cjfa-10416	447	96	e	e	NOUN
cjfa-10416	447	97	:	:	PUNCT
cjfa-10416	447	98	elaboration	elaboration	NOUN
cjfa-10416	447	99	of	of	ADP
cjfa-10416	447	100	the	the	DET
cjfa-10416	447	101	author	author	NOUN
cjfa-10416	447	102	.	.	PUNCT
cjfa-10416	448	1	the	the	DET
cjfa-10416	448	2	results	result	NOUN
cjfa-10416	448	3	show	show	VERB
cjfa-10416	448	4	that	that	SCONJ
cjfa-10416	448	5	,	,	PUNCT
cjfa-10416	448	6	despite	despite	SCONJ
cjfa-10416	448	7	the	the	DET
cjfa-10416	448	8	small	small	ADJ
cjfa-10416	448	9	dimension	dimension	NOUN
cjfa-10416	448	10	of	of	ADP
cjfa-10416	448	11	the	the	DET
cjfa-10416	448	12	time	time	NOUN
cjfa-10416	448	13	series	series	NOUN
cjfa-10416	448	14	(	(	PUNCT
cjfa-10416	448	15	12	12	NUM
cjfa-10416	448	16	observations	observation	NOUN
cjfa-10416	448	17	)	)	PUNCT
cjfa-10416	448	18	,	,	PUNCT
cjfa-10416	448	19	the	the	DET
cjfa-10416	448	20	average	average	ADJ
cjfa-10416	448	21	return	return	NOUN
cjfa-10416	448	22	of	of	ADP
cjfa-10416	448	23	the	the	DET
cjfa-10416	448	24	target	target	NOUN
cjfa-10416	448	25	companies	company	NOUN
cjfa-10416	448	26	’	'	PUNCT
cjfa-10416	448	27	stock	stock	NOUN
cjfa-10416	448	28	is	be	AUX
cjfa-10416	448	29	higher	high	ADJ
cjfa-10416	448	30	than	than	ADP
cjfa-10416	448	31	the	the	DET
cjfa-10416	448	32	average	average	ADJ
cjfa-10416	448	33	return	return	NOUN
cjfa-10416	448	34	of	of	ADP
cjfa-10416	448	35	the	the	DET
cjfa-10416	448	36	acquiring	acquire	VERB
cjfa-10416	448	37	companies	company	NOUN
cjfa-10416	448	38	’	’	PART
cjfa-10416	448	39	stock	stock	NOUN
cjfa-10416	448	40	,	,	PUNCT
cjfa-10416	448	41	both	both	CCONJ
cjfa-10416	448	42	in	in	ADP
cjfa-10416	448	43	the	the	DET
cjfa-10416	448	44	period	period	NOUN
cjfa-10416	448	45	further	far	ADV
cjfa-10416	448	46	to	to	ADP
cjfa-10416	448	47	the	the	DET
cjfa-10416	448	48	preliminary	preliminary	ADJ
cjfa-10416	448	49	announcement	announcement	NOUN
cjfa-10416	448	50	and	and	CCONJ
cjfa-10416	448	51	close	close	ADJ
cjfa-10416	448	52	to	to	ADP
cjfa-10416	448	53	the	the	DET
cjfa-10416	448	54	preliminary	preliminary	ADJ
cjfa-10416	448	55	announcement	announcement	NOUN
cjfa-10416	448	56	.	.	PUNCT
cjfa-10416	449	1	tables	table	NOUN
cjfa-10416	449	2	5	5	NUM
cjfa-10416	449	3	and	and	CCONJ
cjfa-10416	449	4	6	6	NUM
cjfa-10416	449	5	present	present	ADJ
cjfa-10416	449	6	the	the	DET
cjfa-10416	449	7	statistic	statistic	NOUN
cjfa-10416	449	8	of	of	ADP
cjfa-10416	449	9	the	the	DET
cjfa-10416	449	10	average	average	ADJ
cjfa-10416	449	11	abnormal	abnormal	ADJ
cjfa-10416	449	12	returns	return	NOUN
cjfa-10416	449	13	,	,	PUNCT
cjfa-10416	449	14	calculated	calculate	VERB
cjfa-10416	449	15	with	with	ADP
cjfa-10416	449	16	the	the	DET
cjfa-10416	449	17	ball	ball	NOUN
cjfa-10416	449	18	and	and	CCONJ
cjfa-10416	449	19	brown	brown	ADJ
cjfa-10416	449	20	(	(	PUNCT
cjfa-10416	449	21	1968	1968	NUM
cjfa-10416	449	22	)	)	PUNCT
cjfa-10416	449	23	model	model	NOUN
cjfa-10416	449	24	,	,	PUNCT
cjfa-10416	449	25	for	for	ADP
cjfa-10416	449	26	companies	company	NOUN
cjfa-10416	449	27	involved	involve	VERB
cjfa-10416	449	28	in	in	ADP
cjfa-10416	449	29	takeover	takeover	NOUN
cjfa-10416	449	30	bids	bid	NOUN
cjfa-10416	449	31	,	,	PUNCT
cjfa-10416	449	32	in	in	ADP
cjfa-10416	449	33	relation	relation	NOUN
cjfa-10416	449	34	to	to	ADP
cjfa-10416	449	35	the	the	DET
cjfa-10416	449	36	period	period	NOUN
cjfa-10416	449	37	further	far	ADV
cjfa-10416	449	38	to	to	ADP
cjfa-10416	449	39	the	the	DET
cjfa-10416	449	40	preliminary	preliminary	ADJ
cjfa-10416	449	41	announcement	announcement	NOUN
cjfa-10416	449	42	and	and	CCONJ
cjfa-10416	449	43	close	close	ADJ
cjfa-10416	449	44	to	to	ADP
cjfa-10416	449	45	the	the	DET
cjfa-10416	449	46	preliminary	preliminary	ADJ
cjfa-10416	449	47	announcement	announcement	NOUN
cjfa-10416	449	48	,	,	PUNCT
cjfa-10416	449	49	respectively	respectively	ADV
cjfa-10416	449	50	:	:	PUNCT
cjfa-10416	449	51	joão	joão	PROPN
cjfa-10416	449	52	paulo	paulo	PROPN
cjfa-10416	449	53	braga	braga	PROPN
cjfa-10416	449	54	,	,	PUNCT
cjfa-10416	449	55	luís	luís	PROPN
cjfa-10416	449	56	m.	m.	PROPN
cjfa-10416	449	57	pereira	pereira	PROPN
cjfa-10416	449	58	gomes60	gomes60	PROPN
cjfa-10416	449	59	table	table	NOUN
cjfa-10416	449	60	5	5	NUM
cjfa-10416	449	61	.	.	PUNCT
cjfa-10416	450	1	average	average	ADJ
cjfa-10416	450	2	abnormal	abnormal	ADJ
cjfa-10416	450	3	returns	return	NOUN
cjfa-10416	450	4	(	(	PUNCT
cjfa-10416	450	5	ball	ball	NOUN
cjfa-10416	450	6	&	&	CCONJ
cjfa-10416	450	7	brown	brown	PROPN
cjfa-10416	450	8	)	)	PUNCT
cjfa-10416	450	9	–	–	PUNCT
cjfa-10416	450	10	companies	company	NOUN
cjfa-10416	450	11	involved	involve	VERB
cjfa-10416	450	12	period	period	NOUN
cjfa-10416	450	13	further	far	ADV
cjfa-10416	450	14	to	to	ADP
cjfa-10416	450	15	the	the	DET
cjfa-10416	450	16	preliminary	preliminary	ADJ
cjfa-10416	450	17	announcement	announcement	NOUN
cjfa-10416	450	18	(	(	PUNCT
cjfa-10416	450	19	weeks	week	NOUN
cjfa-10416	450	20	-18	-18	PUNCT
cjfa-10416	450	21	to	to	PART
cjfa-10416	450	22	-6	-6	NOUN
cjfa-10416	450	23	and	and	CCONJ
cjfa-10416	450	24	weeks	week	NOUN
cjfa-10416	450	25	+6	+6	PROPN
cjfa-10416	450	26	to	to	PART
cjfa-10416	450	27	+18	+18	VERB
cjfa-10416	450	28	)	)	PUNCT
cjfa-10416	450	29	acquiring	acquire	VERB
cjfa-10416	450	30	target	target	NOUN
cjfa-10416	450	31	clss	clss	NOUN
cjfa-10416	450	32	log	log	NOUN
cjfa-10416	450	33	clss	clss	PROPN
cjfa-10416	450	34	log	log	PROPN
cjfa-10416	450	35	y(1	y(1	PROPN
cjfa-10416	450	36	)	)	PUNCT
cjfa-10416	450	37	y(1	y(1	PROPN
cjfa-10416	450	38	)	)	PUNCT
cjfa-10416	450	39	y(1	y(1	PROPN
cjfa-10416	450	40	)	)	PUNCT
cjfa-10416	450	41	y(1	y(1	PROPN
cjfa-10416	450	42	)	)	PUNCT
cjfa-10416	451	1	-0,0003	-0,0003	PROPN
cjfa-10416	451	2	-0,0010	-0,0010	PROPN
cjfa-10416	451	3	0,0048	0,0048	VERB
cjfa-10416	452	1	0,0049	0,0049	PRON
cjfa-10416	452	2	s	s	PART
cjfa-10416	452	3	o	o	NOUN
cjfa-10416	452	4	u	u	NOUN
cjfa-10416	452	5	r	r	NOUN
cjfa-10416	452	6	c	c	NOUN
cjfa-10416	452	7	e	e	NOUN
cjfa-10416	452	8	:	:	PUNCT
cjfa-10416	452	9	elaboration	elaboration	NOUN
cjfa-10416	452	10	of	of	ADP
cjfa-10416	452	11	the	the	DET
cjfa-10416	452	12	author	author	NOUN
cjfa-10416	452	13	.	.	PUNCT
cjfa-10416	453	1	table	table	NOUN
cjfa-10416	453	2	6	6	NUM
cjfa-10416	453	3	.	.	PUNCT
cjfa-10416	454	1	average	average	ADJ
cjfa-10416	454	2	abnormal	abnormal	ADJ
cjfa-10416	454	3	returns	return	NOUN
cjfa-10416	454	4	(	(	PUNCT
cjfa-10416	454	5	ball	ball	NOUN
cjfa-10416	454	6	&	&	CCONJ
cjfa-10416	454	7	brown	brown	PROPN
cjfa-10416	454	8	)	)	PUNCT
cjfa-10416	454	9	–	–	PUNCT
cjfa-10416	454	10	companies	company	NOUN
cjfa-10416	454	11	involved	involve	VERB
cjfa-10416	454	12	period	period	NOUN
cjfa-10416	454	13	close	close	ADV
cjfa-10416	454	14	to	to	ADP
cjfa-10416	454	15	the	the	DET
cjfa-10416	454	16	preliminary	preliminary	ADJ
cjfa-10416	454	17	announcement	announcement	NOUN
cjfa-10416	454	18	(	(	PUNCT
cjfa-10416	454	19	weeks	week	NOUN
cjfa-10416	454	20	-5	-5	ADJ
cjfa-10416	454	21	to	to	ADP
cjfa-10416	454	22	+5	+5	NUM
cjfa-10416	454	23	)	)	PUNCT
cjfa-10416	454	24	acquiring	acquire	VERB
cjfa-10416	454	25	target	target	NOUN
cjfa-10416	454	26	clss	clss	NOUN
cjfa-10416	454	27	log	log	NOUN
cjfa-10416	454	28	clss	clss	PROPN
cjfa-10416	454	29	log	log	PROPN
cjfa-10416	454	30	y(1	y(1	PROPN
cjfa-10416	454	31	)	)	PUNCT
cjfa-10416	454	32	y(1	y(1	PROPN
cjfa-10416	454	33	)	)	PUNCT
cjfa-10416	454	34	y(1	y(1	PROPN
cjfa-10416	454	35	)	)	PUNCT
cjfa-10416	454	36	y(1	y(1	PROPN
cjfa-10416	454	37	)	)	PUNCT
cjfa-10416	454	38	-0,0023	-0,0023	PROPN
cjfa-10416	454	39	-0,0028	-0,0028	PROPN
cjfa-10416	454	40	0,0111	0,0111	PROPN
cjfa-10416	454	41	0,0088	0,0088	PRON
cjfa-10416	454	42	s	s	PART
cjfa-10416	454	43	o	o	NOUN
cjfa-10416	454	44	u	u	NOUN
cjfa-10416	454	45	r	r	NOUN
cjfa-10416	454	46	c	c	NOUN
cjfa-10416	454	47	e	e	NOUN
cjfa-10416	454	48	:	:	PUNCT
cjfa-10416	454	49	elaboration	elaboration	NOUN
cjfa-10416	454	50	of	of	ADP
cjfa-10416	454	51	the	the	DET
cjfa-10416	454	52	author	author	NOUN
cjfa-10416	454	53	.	.	PUNCT
cjfa-10416	455	1	the	the	DET
cjfa-10416	455	2	results	result	NOUN
cjfa-10416	455	3	shown	show	VERB
cjfa-10416	455	4	in	in	ADP
cjfa-10416	455	5	tables	table	NOUN
cjfa-10416	455	6	5	5	NUM
cjfa-10416	455	7	and	and	CCONJ
cjfa-10416	455	8	6	6	NUM
cjfa-10416	455	9	clarify	clarify	NOUN
cjfa-10416	455	10	that	that	SCONJ
cjfa-10416	455	11	,	,	PUNCT
cjfa-10416	455	12	in	in	ADP
cjfa-10416	455	13	average	average	ADJ
cjfa-10416	455	14	,	,	PUNCT
cjfa-10416	455	15	the	the	DET
cjfa-10416	455	16	acquiring	acquire	VERB
cjfa-10416	455	17	companies	company	NOUN
cjfa-10416	455	18	obtained	obtain	VERB
cjfa-10416	455	19	negative	negative	ADJ
cjfa-10416	455	20	average	average	ADJ
cjfa-10416	455	21	abnormal	abnormal	ADJ
cjfa-10416	455	22	returns	return	NOUN
cjfa-10416	455	23	and	and	CCONJ
cjfa-10416	455	24	that	that	SCONJ
cjfa-10416	455	25	target	target	NOUN
cjfa-10416	455	26	companies	company	NOUN
cjfa-10416	455	27	obtained	obtain	VERB
cjfa-10416	455	28	positive	positive	ADJ
cjfa-10416	455	29	average	average	ADJ
cjfa-10416	455	30	abnormal	abnormal	ADJ
cjfa-10416	455	31	returns	return	NOUN
cjfa-10416	455	32	,	,	PUNCT
cjfa-10416	455	33	in	in	ADP
cjfa-10416	455	34	the	the	DET
cjfa-10416	455	35	both	both	DET
cjfa-10416	455	36	periods	period	NOUN
cjfa-10416	455	37	of	of	ADP
cjfa-10416	455	38	time	time	NOUN
cjfa-10416	455	39	.	.	PUNCT
cjfa-10416	456	1	the	the	DET
cjfa-10416	456	2	result	result	NOUN
cjfa-10416	456	3	comparison	comparison	NOUN
cjfa-10416	456	4	also	also	ADV
cjfa-10416	456	5	suggests	suggest	VERB
cjfa-10416	456	6	that	that	SCONJ
cjfa-10416	456	7	the	the	DET
cjfa-10416	456	8	average	average	ADJ
cjfa-10416	456	9	abnormal	abnormal	ADJ
cjfa-10416	456	10	returns	return	NOUN
cjfa-10416	456	11	of	of	ADP
cjfa-10416	456	12	the	the	DET
cjfa-10416	456	13	acquiring	acquire	VERB
cjfa-10416	456	14	companies	company	NOUN
cjfa-10416	456	15	diminish	diminish	VERB
cjfa-10416	456	16	(	(	PUNCT
cjfa-10416	456	17	from	from	ADP
cjfa-10416	456	18	-0.10	-0.10	NUM
cjfa-10416	456	19	%	%	NOUN
cjfa-10416	456	20	to	to	PART
cjfa-10416	456	21	-0.28	-0.28	NUM
cjfa-10416	456	22	%	%	NOUN
cjfa-10416	456	23	)	)	PUNCT
cjfa-10416	456	24	,	,	PUNCT
cjfa-10416	456	25	in	in	ADP
cjfa-10416	456	26	the	the	DET
cjfa-10416	456	27	period	period	NOUN
cjfa-10416	456	28	close	close	ADV
cjfa-10416	456	29	to	to	ADP
cjfa-10416	456	30	the	the	DET
cjfa-10416	456	31	preliminary	preliminary	ADJ
cjfa-10416	456	32	announcement	announcement	NOUN
cjfa-10416	456	33	,	,	PUNCT
cjfa-10416	456	34	while	while	SCONJ
cjfa-10416	456	35	the	the	DET
cjfa-10416	456	36	average	average	ADJ
cjfa-10416	456	37	abnormal	abnormal	ADJ
cjfa-10416	456	38	returns	return	NOUN
cjfa-10416	456	39	of	of	ADP
cjfa-10416	456	40	the	the	DET
cjfa-10416	456	41	target	target	NOUN
cjfa-10416	456	42	companies	company	NOUN
cjfa-10416	456	43	increase	increase	VERB
cjfa-10416	456	44	(	(	PUNCT
cjfa-10416	456	45	from	from	ADP
cjfa-10416	456	46	0.49	0.49	NUM
cjfa-10416	456	47	%	%	NOUN
cjfa-10416	456	48	to	to	PART
cjfa-10416	456	49	0.88	0.88	NUM
cjfa-10416	456	50	%	%	NOUN
cjfa-10416	456	51	)	)	PUNCT
cjfa-10416	456	52	.	.	PUNCT
cjfa-10416	457	1	this	this	DET
cjfa-10416	457	2	performance	performance	NOUN
cjfa-10416	457	3	corroborates	corroborate	VERB
cjfa-10416	457	4	with	with	ADP
cjfa-10416	457	5	the	the	DET
cjfa-10416	457	6	evidence	evidence	NOUN
cjfa-10416	457	7	reported	report	VERB
cjfa-10416	457	8	by	by	ADP
cjfa-10416	457	9	ball	ball	NOUN
cjfa-10416	457	10	and	and	CCONJ
cjfa-10416	457	11	brown	brown	ADJ
cjfa-10416	457	12	(	(	PUNCT
cjfa-10416	457	13	1968	1968	NUM
cjfa-10416	457	14	)	)	PUNCT
cjfa-10416	457	15	and	and	CCONJ
cjfa-10416	457	16	also	also	ADV
cjfa-10416	457	17	confirms	confirm	VERB
cjfa-10416	457	18	the	the	DET
cjfa-10416	457	19	working	work	VERB
cjfa-10416	457	20	hypothesis	hypothesis	NOUN
cjfa-10416	457	21	h1	h1	PROPN
cjfa-10416	457	22	,	,	PUNCT
cjfa-10416	457	23	h2	h2	NOUN
cjfa-10416	457	24	and	and	CCONJ
cjfa-10416	457	25	h3	h3	NOUN
cjfa-10416	457	26	mentioned	mention	VERB
cjfa-10416	457	27	before	before	ADV
cjfa-10416	457	28	.	.	PUNCT
cjfa-10416	458	1	table	table	NOUN
cjfa-10416	458	2	7	7	NUM
cjfa-10416	458	3	shows	show	VERB
cjfa-10416	458	4	the	the	DET
cjfa-10416	458	5	statistic	statistic	NOUN
cjfa-10416	458	6	of	of	ADP
cjfa-10416	458	7	the	the	DET
cjfa-10416	458	8	hypothesis	hypothesis	NOUN
cjfa-10416	458	9	test	test	NOUN
cjfa-10416	458	10	to	to	ADP
cjfa-10416	458	11	the	the	DET
cjfa-10416	458	12	statistical	statistical	ADJ
cjfa-10416	458	13	irrelevance	irrelevance	NOUN
cjfa-10416	458	14	of	of	ADP
cjfa-10416	458	15	the	the	DET
cjfa-10416	458	16	difference	difference	NOUN
cjfa-10416	458	17	of	of	ADP
cjfa-10416	458	18	the	the	DET
cjfa-10416	458	19	average	average	ADJ
cjfa-10416	458	20	abnormal	abnormal	ADJ
cjfa-10416	458	21	returns	return	NOUN
cjfa-10416	458	22	of	of	ADP
cjfa-10416	458	23	the	the	DET
cjfa-10416	458	24	companies	company	NOUN
cjfa-10416	458	25	involved	involve	VERB
cjfa-10416	458	26	in	in	ADP
cjfa-10416	458	27	takeover	takeover	NOUN
cjfa-10416	458	28	bids	bid	NOUN
cjfa-10416	458	29	,	,	PUNCT
cjfa-10416	458	30	comparing	compare	VERB
cjfa-10416	458	31	both	both	DET
cjfa-10416	458	32	periods	period	NOUN
cjfa-10416	458	33	of	of	ADP
cjfa-10416	458	34	time	time	NOUN
cjfa-10416	458	35	:	:	PUNCT
cjfa-10416	458	36	the	the	DET
cjfa-10416	458	37	impact	impact	NOUN
cjfa-10416	458	38	of	of	ADP
cjfa-10416	458	39	the	the	DET
cjfa-10416	458	40	preliminary	preliminary	ADJ
cjfa-10416	458	41	announcement	announcement	NOUN
cjfa-10416	458	42	…	…	PUNCT
cjfa-10416	458	43	61	61	NUM
cjfa-10416	458	44	table	table	NOUN
cjfa-10416	458	45	7	7	NUM
cjfa-10416	458	46	.	.	PUNCT
cjfa-10416	458	47	hypothesis	hypothesis	NOUN
cjfa-10416	458	48	test	test	NOUN
cjfa-10416	458	49	to	to	ADP
cjfa-10416	458	50	the	the	DET
cjfa-10416	458	51	statistical	statistical	ADJ
cjfa-10416	458	52	irrelevance	irrelevance	NOUN
cjfa-10416	458	53	of	of	ADP
cjfa-10416	458	54	the	the	DET
cjfa-10416	458	55	difference	difference	NOUN
cjfa-10416	458	56	of	of	ADP
cjfa-10416	458	57	the	the	DET
cjfa-10416	458	58	average	average	ADJ
cjfa-10416	458	59	abnormal	abnormal	ADJ
cjfa-10416	458	60	returns	return	NOUN
cjfa-10416	458	61	period	period	VERB
cjfa-10416	458	62	further	far	ADV
cjfa-10416	458	63	to	to	ADP
cjfa-10416	458	64	the	the	DET
cjfa-10416	458	65	preliminary	preliminary	ADJ
cjfa-10416	458	66	announcement	announcement	NOUN
cjfa-10416	458	67	(	(	PUNCT
cjfa-10416	458	68	weeks	week	NOUN
cjfa-10416	458	69	-18	-18	PUNCT
cjfa-10416	458	70	to	to	PART
cjfa-10416	458	71	-6	-6	NOUN
cjfa-10416	458	72	and	and	CCONJ
cjfa-10416	458	73	weeks	week	NOUN
cjfa-10416	459	1	+6	+6	PROPN
cjfa-10416	459	2	to	to	PART
cjfa-10416	459	3	+18	+18	ADJ
cjfa-10416	459	4	)	)	PUNCT
cjfa-10416	459	5	versus	versus	ADP
cjfa-10416	459	6	period	period	NOUN
cjfa-10416	459	7	close	close	ADV
cjfa-10416	459	8	to	to	ADP
cjfa-10416	459	9	the	the	DET
cjfa-10416	459	10	preliminary	preliminary	ADJ
cjfa-10416	459	11	announcement	announcement	NOUN
cjfa-10416	459	12	(	(	PUNCT
cjfa-10416	459	13	weeks	week	NOUN
cjfa-10416	459	14	-5	-5	ADJ
cjfa-10416	459	15	to	to	ADP
cjfa-10416	459	16	+5	+5	NUM
cjfa-10416	459	17	)	)	PUNCT
cjfa-10416	459	18	acquiring	acquire	VERB
cjfa-10416	459	19	target	target	NOUN
cjfa-10416	459	20	clss	clss	NOUN
cjfa-10416	459	21	log	log	PROPN
cjfa-10416	459	22	clss	clss	PROPN
cjfa-10416	459	23	log	log	NOUN
cjfa-10416	459	24	(	(	PUNCT
cjfa-10416	459	25	t	t	NOUN
cjfa-10416	459	26	-	-	PUNCT
cjfa-10416	459	27	student	student	NOUN
cjfa-10416	459	28	test	test	NOUN
cjfa-10416	459	29	)	)	PUNCT
cjfa-10416	460	1	0,5065	0,5065	PROPN
cjfa-10416	460	2	0,4989	0,4989	ADV
cjfa-10416	460	3	-0,6196	-0,6196	PROPN
cjfa-10416	460	4	-0,4158	-0,4158	PROPN
cjfa-10416	460	5	s	s	PART
cjfa-10416	460	6	o	o	NOUN
cjfa-10416	460	7	u	u	NOUN
cjfa-10416	460	8	r	r	NOUN
cjfa-10416	460	9	c	c	NOUN
cjfa-10416	460	10	e	e	NOUN
cjfa-10416	460	11	:	:	PUNCT
cjfa-10416	460	12	elaboration	elaboration	NOUN
cjfa-10416	460	13	of	of	ADP
cjfa-10416	460	14	the	the	DET
cjfa-10416	460	15	author	author	NOUN
cjfa-10416	460	16	.	.	PUNCT
cjfa-10416	461	1	the	the	DET
cjfa-10416	461	2	results	result	NOUN
cjfa-10416	461	3	show	show	VERB
cjfa-10416	461	4	that	that	SCONJ
cjfa-10416	461	5	the	the	DET
cjfa-10416	461	6	null	null	ADJ
cjfa-10416	461	7	hypothesis	hypothesis	NOUN
cjfa-10416	461	8	of	of	ADP
cjfa-10416	461	9	the	the	DET
cjfa-10416	461	10	statistical	statistical	ADJ
cjfa-10416	461	11	irrelevance	irrelevance	NOUN
cjfa-10416	461	12	of	of	ADP
cjfa-10416	461	13	the	the	DET
cjfa-10416	461	14	difference	difference	NOUN
cjfa-10416	461	15	of	of	ADP
cjfa-10416	461	16	the	the	DET
cjfa-10416	461	17	average	average	ADJ
cjfa-10416	461	18	abnormal	abnormal	ADJ
cjfa-10416	461	19	returns	return	NOUN
cjfa-10416	461	20	,	,	PUNCT
cjfa-10416	461	21	in	in	ADP
cjfa-10416	461	22	both	both	DET
cjfa-10416	461	23	periods	period	NOUN
cjfa-10416	461	24	of	of	ADP
cjfa-10416	461	25	time	time	NOUN
cjfa-10416	461	26	,	,	PUNCT
cjfa-10416	461	27	is	be	AUX
cjfa-10416	461	28	n’t	not	PART
cjfa-10416	461	29	rejected	reject	VERB
cjfa-10416	461	30	by	by	ADP
cjfa-10416	461	31	the	the	DET
cjfa-10416	461	32	bilateral	bilateral	ADJ
cjfa-10416	461	33	test	test	NOUN
cjfa-10416	461	34	,	,	PUNCT
cjfa-10416	461	35	with	with	ADP
cjfa-10416	461	36	a	a	DET
cjfa-10416	461	37	5	5	NUM
cjfa-10416	461	38	%	%	NOUN
cjfa-10416	461	39	significance	significance	NOUN
cjfa-10416	461	40	level	level	NOUN
cjfa-10416	461	41	with	with	ADP
cjfa-10416	461	42	no	no	DET
cjfa-10416	461	43	critical	critical	ADJ
cjfa-10416	461	44	value	value	NOUN
cjfa-10416	461	45	(	(	PUNCT
cjfa-10416	461	46	the	the	DET
cjfa-10416	461	47	degrees	degree	NOUN
cjfa-10416	461	48	of	of	ADP
cjfa-10416	461	49	freedom	freedom	NOUN
cjfa-10416	461	50	tend	tend	VERB
cjfa-10416	461	51	to	to	ADP
cjfa-10416	461	52	the	the	DET
cjfa-10416	461	53	infinite	infinite	NOUN
cjfa-10416	461	54	,	,	PUNCT
cjfa-10416	461	55	where	where	SCONJ
cjfa-10416	461	56	1,96	1,96	NUM
cjfa-10416	461	57	is	be	AUX
cjfa-10416	461	58	our	our	PRON
cjfa-10416	461	59	reference	reference	NOUN
cjfa-10416	461	60	value	value	NOUN
cjfa-10416	461	61	,	,	PUNCT
cjfa-10416	461	62	considering	consider	VERB
cjfa-10416	461	63	the	the	DET
cjfa-10416	461	64	5	5	NUM
cjfa-10416	461	65	%	%	NOUN
cjfa-10416	461	66	significance	significance	NOUN
cjfa-10416	461	67	level	level	NOUN
cjfa-10416	461	68	)	)	PUNCT
cjfa-10416	461	69	.	.	PUNCT
cjfa-10416	462	1	that	that	PRON
cjfa-10416	462	2	means	mean	VERB
cjfa-10416	462	3	that	that	SCONJ
cjfa-10416	462	4	the	the	DET
cjfa-10416	462	5	change	change	NOUN
cjfa-10416	462	6	of	of	ADP
cjfa-10416	462	7	the	the	DET
cjfa-10416	462	8	average	average	ADJ
cjfa-10416	462	9	abnormal	abnormal	ADJ
cjfa-10416	462	10	returns	return	NOUN
cjfa-10416	462	11	,	,	PUNCT
cjfa-10416	462	12	in	in	ADP
cjfa-10416	462	13	the	the	DET
cjfa-10416	462	14	period	period	NOUN
cjfa-10416	462	15	close	close	ADV
cjfa-10416	462	16	to	to	ADP
cjfa-10416	462	17	the	the	DET
cjfa-10416	462	18	preliminary	preliminary	ADJ
cjfa-10416	462	19	announcement	announcement	NOUN
cjfa-10416	462	20	,	,	PUNCT
cjfa-10416	462	21	both	both	CCONJ
cjfa-10416	462	22	in	in	ADP
cjfa-10416	462	23	acquiring	acquire	VERB
cjfa-10416	462	24	and	and	CCONJ
cjfa-10416	462	25	target	target	VERB
cjfa-10416	462	26	companies	company	NOUN
cjfa-10416	462	27	,	,	PUNCT
cjfa-10416	462	28	is	be	AUX
cjfa-10416	462	29	n’t	not	PART
cjfa-10416	462	30	statistically	statistically	ADV
cjfa-10416	462	31	significant	significant	ADJ
cjfa-10416	462	32	.	.	PUNCT
cjfa-10416	463	1	despite	despite	SCONJ
cjfa-10416	463	2	the	the	DET
cjfa-10416	463	3	existence	existence	NOUN
cjfa-10416	463	4	of	of	ADP
cjfa-10416	463	5	a	a	DET
cjfa-10416	463	6	small	small	ADJ
cjfa-10416	463	7	number	number	NOUN
cjfa-10416	463	8	of	of	ADP
cjfa-10416	463	9	observations	observation	NOUN
cjfa-10416	463	10	,	,	PUNCT
cjfa-10416	463	11	these	these	DET
cjfa-10416	463	12	results	result	NOUN
cjfa-10416	463	13	do	do	AUX
cjfa-10416	463	14	n’t	not	PART
cjfa-10416	463	15	confirm	confirm	VERB
cjfa-10416	463	16	any	any	PRON
cjfa-10416	463	17	of	of	ADP
cjfa-10416	463	18	the	the	DET
cjfa-10416	463	19	hypotheses	hypothesis	NOUN
cjfa-10416	463	20	mentioned	mention	VERB
cjfa-10416	463	21	above	above	ADV
cjfa-10416	463	22	.	.	PUNCT
cjfa-10416	464	1	final	final	ADJ
cjfa-10416	464	2	remarks	remark	NOUN
cjfa-10416	464	3	and	and	CCONJ
cjfa-10416	464	4	conclusions	conclusion	NOUN
cjfa-10416	464	5	this	this	DET
cjfa-10416	464	6	paper	paper	NOUN
cjfa-10416	464	7	accounts	account	VERB
cjfa-10416	464	8	for	for	ADP
cjfa-10416	464	9	the	the	DET
cjfa-10416	464	10	business	business	NOUN
cjfa-10416	464	11	combinations	combination	NOUN
cjfa-10416	464	12	resulting	result	VERB
cjfa-10416	464	13	from	from	ADP
cjfa-10416	464	14	m&a	m&a	PROPN
cjfa-10416	464	15	processes	process	NOUN
cjfa-10416	464	16	and	and	CCONJ
cjfa-10416	464	17	has	have	VERB
cjfa-10416	464	18	as	as	ADP
cjfa-10416	464	19	main	main	ADJ
cjfa-10416	464	20	focus	focus	NOUN
cjfa-10416	464	21	takeover	takeover	NOUN
cjfa-10416	464	22	bids	bid	NOUN
cjfa-10416	464	23	.	.	PUNCT
cjfa-10416	465	1	business	business	NOUN
cjfa-10416	465	2	combinations	combination	NOUN
cjfa-10416	465	3	constitute	constitute	VERB
cjfa-10416	465	4	strategies	strategy	NOUN
cjfa-10416	465	5	frequently	frequently	ADV
cjfa-10416	465	6	followed	follow	VERB
cjfa-10416	465	7	by	by	ADP
cjfa-10416	465	8	companies	company	NOUN
cjfa-10416	465	9	in	in	ADP
cjfa-10416	465	10	order	order	NOUN
cjfa-10416	465	11	to	to	PART
cjfa-10416	465	12	grow	grow	VERB
cjfa-10416	465	13	and	and	CCONJ
cjfa-10416	465	14	self	self	NOUN
cjfa-10416	465	15	-	-	PUNCT
cjfa-10416	465	16	internationalization	internationalization	NOUN
cjfa-10416	465	17	.	.	PUNCT
cjfa-10416	466	1	the	the	DET
cjfa-10416	466	2	fact	fact	NOUN
cjfa-10416	466	3	that	that	SCONJ
cjfa-10416	466	4	the	the	DET
cjfa-10416	466	5	number	number	NOUN
cjfa-10416	466	6	of	of	ADP
cjfa-10416	466	7	takeover	takeover	NOUN
cjfa-10416	466	8	bids	bid	NOUN
cjfa-10416	466	9	performed	perform	VERB
cjfa-10416	466	10	in	in	ADP
cjfa-10416	466	11	portugal	portugal	PROPN
cjfa-10416	466	12	is	be	AUX
cjfa-10416	466	13	n’t	not	PART
cjfa-10416	466	14	too	too	ADV
cjfa-10416	466	15	high	high	ADJ
cjfa-10416	466	16	,	,	PUNCT
cjfa-10416	466	17	comparatively	comparatively	ADV
cjfa-10416	466	18	to	to	ADP
cjfa-10416	466	19	other	other	ADJ
cjfa-10416	466	20	countries	country	NOUN
cjfa-10416	466	21	,	,	PUNCT
cjfa-10416	466	22	justifies	justify	VERB
cjfa-10416	466	23	the	the	DET
cjfa-10416	466	24	necessity	necessity	NOUN
cjfa-10416	466	25	to	to	PART
cjfa-10416	466	26	deepen	deepen	VERB
cjfa-10416	466	27	the	the	DET
cjfa-10416	466	28	knowledge	knowledge	NOUN
cjfa-10416	466	29	of	of	ADP
cjfa-10416	466	30	the	the	DET
cjfa-10416	466	31	effects	effect	NOUN
cjfa-10416	466	32	on	on	ADP
cjfa-10416	466	33	the	the	DET
cjfa-10416	466	34	companies	company	NOUN
cjfa-10416	466	35	involved	involve	VERB
cjfa-10416	466	36	.	.	PUNCT
cjfa-10416	467	1	that	that	PRON
cjfa-10416	467	2	was	be	AUX
cjfa-10416	467	3	this	this	DET
cjfa-10416	467	4	paper	paper	NOUN
cjfa-10416	467	5	’s	’s	PART
cjfa-10416	467	6	motivation	motivation	NOUN
cjfa-10416	467	7	.	.	PUNCT
cjfa-10416	468	1	the	the	DET
cjfa-10416	468	2	paper	paper	NOUN
cjfa-10416	468	3	’s	’s	PART
cjfa-10416	468	4	main	main	ADJ
cjfa-10416	468	5	objective	objective	NOUN
cjfa-10416	468	6	is	be	AUX
cjfa-10416	468	7	to	to	PART
cjfa-10416	468	8	study	study	VERB
cjfa-10416	468	9	the	the	DET
cjfa-10416	468	10	impact	impact	NOUN
cjfa-10416	468	11	of	of	ADP
cjfa-10416	468	12	the	the	DET
cjfa-10416	468	13	preliminary	preliminary	ADJ
cjfa-10416	468	14	announcement	announcement	NOUN
cjfa-10416	468	15	of	of	ADP
cjfa-10416	468	16	the	the	DET
cjfa-10416	468	17	takeover	takeover	NOUN
cjfa-10416	468	18	bids	bid	NOUN
cjfa-10416	468	19	on	on	ADP
cjfa-10416	468	20	the	the	DET
cjfa-10416	468	21	stock	stock	NOUN
cjfa-10416	468	22	prices	price	NOUN
cjfa-10416	468	23	of	of	ADP
cjfa-10416	468	24	the	the	DET
cjfa-10416	468	25	companies	company	NOUN
cjfa-10416	468	26	involved	involve	VERB
cjfa-10416	468	27	,	,	PUNCT
cjfa-10416	468	28	in	in	ADP
cjfa-10416	468	29	order	order	NOUN
cjfa-10416	468	30	to	to	PART
cjfa-10416	468	31	identify	identify	VERB
cjfa-10416	468	32	the	the	DET
cjfa-10416	468	33	gainers	gainer	NOUN
cjfa-10416	468	34	and	and	CCONJ
cjfa-10416	468	35	losers	loser	NOUN
cjfa-10416	468	36	in	in	ADP
cjfa-10416	468	37	this	this	DET
cjfa-10416	468	38	operation	operation	NOUN
cjfa-10416	468	39	.	.	PUNCT
cjfa-10416	469	1	the	the	DET
cjfa-10416	469	2	empirical	empirical	ADJ
cjfa-10416	469	3	research	research	NOUN
cjfa-10416	469	4	was	be	AUX
cjfa-10416	469	5	focused	focus	VERB
cjfa-10416	469	6	on	on	ADP
cjfa-10416	469	7	the	the	DET
cjfa-10416	469	8	event	event	NOUN
cjfa-10416	469	9	studies	study	NOUN
cjfa-10416	469	10	,	,	PUNCT
cjfa-10416	469	11	using	use	VERB
cjfa-10416	469	12	the	the	DET
cjfa-10416	469	13	calculation	calculation	NOUN
cjfa-10416	469	14	of	of	ADP
cjfa-10416	469	15	the	the	DET
cjfa-10416	469	16	cumulative	cumulative	ADJ
cjfa-10416	469	17	average	average	ADJ
cjfa-10416	469	18	abnormal	abnormal	ADJ
cjfa-10416	469	19	returns	return	NOUN
cjfa-10416	469	20	–	–	PUNCT
cjfa-10416	469	21	based	base	VERB
cjfa-10416	469	22	on	on	ADP
cjfa-10416	469	23	ball	ball	NOUN
cjfa-10416	469	24	and	and	CCONJ
cjfa-10416	469	25	brown	brown	ADJ
cjfa-10416	469	26	(	(	PUNCT
cjfa-10416	469	27	1968	1968	NUM
cjfa-10416	469	28	)	)	PUNCT
cjfa-10416	469	29	methodology	methodology	NOUN
cjfa-10416	469	30	–	–	PUNCT
cjfa-10416	469	31	and	and	CCONJ
cjfa-10416	469	32	calculation	calculation	NOUN
cjfa-10416	469	33	of	of	ADP
cjfa-10416	469	34	price	price	NOUN
cjfa-10416	469	35	reaction	reaction	NOUN
cjfa-10416	469	36	–	–	PUNCT
cjfa-10416	469	37	based	base	VERB
cjfa-10416	469	38	on	on	ADP
cjfa-10416	469	39	beaver	beaver	PROPN
cjfa-10416	469	40	(	(	PUNCT
cjfa-10416	469	41	1968	1968	NUM
cjfa-10416	469	42	)	)	PUNCT
cjfa-10416	469	43	methodology	methodology	NOUN
cjfa-10416	469	44	.	.	PUNCT
cjfa-10416	470	1	the	the	DET
cjfa-10416	470	2	joão	joão	PROPN
cjfa-10416	470	3	paulo	paulo	PROPN
cjfa-10416	470	4	braga	braga	PROPN
cjfa-10416	470	5	,	,	PUNCT
cjfa-10416	470	6	luís	luís	PROPN
cjfa-10416	470	7	m.	m.	PROPN
cjfa-10416	470	8	pereira	pereira	PROPN
cjfa-10416	470	9	gomes62	gomes62	PROPN
cjfa-10416	470	10	survey	survey	NOUN
cjfa-10416	470	11	of	of	ADP
cjfa-10416	470	12	the	the	DET
cjfa-10416	470	13	number	number	NOUN
cjfa-10416	470	14	of	of	ADP
cjfa-10416	470	15	takeover	takeover	NOUN
cjfa-10416	470	16	bids	bid	NOUN
cjfa-10416	470	17	was	be	AUX
cjfa-10416	470	18	conducted	conduct	VERB
cjfa-10416	470	19	taking	take	VERB
cjfa-10416	470	20	into	into	ADP
cjfa-10416	470	21	consideration	consideration	NOUN
cjfa-10416	470	22	the	the	DET
cjfa-10416	470	23	information	information	NOUN
cjfa-10416	470	24	available	available	ADJ
cjfa-10416	470	25	in	in	ADP
cjfa-10416	470	26	annual	annual	ADJ
cjfa-10416	470	27	reports	report	NOUN
cjfa-10416	470	28	and	and	CCONJ
cjfa-10416	470	29	quotation	quotation	NOUN
cjfa-10416	470	30	bulletins	bulletin	NOUN
cjfa-10416	470	31	of	of	ADP
cjfa-10416	470	32	cmvm	cmvm	NOUN
cjfa-10416	470	33	,	,	PUNCT
cjfa-10416	470	34	resulting	result	VERB
cjfa-10416	470	35	in	in	ADP
cjfa-10416	470	36	a	a	DET
cjfa-10416	470	37	sample	sample	NOUN
cjfa-10416	470	38	of	of	ADP
cjfa-10416	470	39	12	12	NUM
cjfa-10416	470	40	bids	bid	NOUN
cjfa-10416	470	41	performed	perform	VERB
cjfa-10416	470	42	in	in	ADP
cjfa-10416	470	43	portugal	portugal	PROPN
cjfa-10416	470	44	between	between	ADP
cjfa-10416	470	45	2000	2000	NUM
cjfa-10416	470	46	and	and	CCONJ
cjfa-10416	470	47	2014	2014	NUM
cjfa-10416	470	48	.	.	PUNCT
cjfa-10416	471	1	the	the	DET
cjfa-10416	471	2	results	result	NOUN
cjfa-10416	471	3	confirm	confirm	VERB
cjfa-10416	471	4	the	the	DET
cjfa-10416	471	5	hypotheses	hypothesis	NOUN
cjfa-10416	471	6	formulated	formulate	VERB
cjfa-10416	471	7	.	.	PUNCT
cjfa-10416	472	1	in	in	ADP
cjfa-10416	472	2	the	the	DET
cjfa-10416	472	3	period	period	NOUN
cjfa-10416	472	4	close	close	ADV
cjfa-10416	472	5	to	to	ADP
cjfa-10416	472	6	the	the	DET
cjfa-10416	472	7	preliminary	preliminary	ADJ
cjfa-10416	472	8	announcement	announcement	NOUN
cjfa-10416	472	9	of	of	ADP
cjfa-10416	472	10	the	the	DET
cjfa-10416	472	11	takeover	takeover	NOUN
cjfa-10416	472	12	bids	bid	NOUN
cjfa-10416	472	13	(	(	PUNCT
cjfa-10416	472	14	weeks	week	NOUN
cjfa-10416	472	15	-5	-5	ADJ
cjfa-10416	472	16	to	to	ADP
cjfa-10416	472	17	+5	+5	PROPN
cjfa-10416	472	18	)	)	PUNCT
cjfa-10416	472	19	seems	seem	VERB
cjfa-10416	472	20	to	to	PART
cjfa-10416	472	21	exist	exist	VERB
cjfa-10416	472	22	a	a	DET
cjfa-10416	472	23	wealth	wealth	NOUN
cjfa-10416	472	24	transfer	transfer	NOUN
cjfa-10416	472	25	from	from	ADP
cjfa-10416	472	26	the	the	DET
cjfa-10416	472	27	shareholders	shareholder	NOUN
cjfa-10416	472	28	of	of	ADP
cjfa-10416	472	29	the	the	DET
cjfa-10416	472	30	acquiring	acquire	VERB
cjfa-10416	472	31	companies	company	NOUN
cjfa-10416	472	32	,	,	PUNCT
cjfa-10416	472	33	which	which	PRON
cjfa-10416	472	34	cumulate	cumulate	VERB
cjfa-10416	472	35	average	average	ADJ
cjfa-10416	472	36	abnormal	abnormal	ADJ
cjfa-10416	472	37	losses	loss	NOUN
cjfa-10416	472	38	(	(	PUNCT
cjfa-10416	472	39	-6.03	-6.03	NUM
cjfa-10416	472	40	%	%	NOUN
cjfa-10416	472	41	)	)	PUNCT
cjfa-10416	472	42	superior	superior	ADJ
cjfa-10416	472	43	to	to	ADP
cjfa-10416	472	44	the	the	DET
cjfa-10416	472	45	average	average	ADJ
cjfa-10416	472	46	abnormal	abnormal	ADJ
cjfa-10416	472	47	earnings	earning	NOUN
cjfa-10416	472	48	(	(	PUNCT
cjfa-10416	472	49	2.96	2.96	NUM
cjfa-10416	472	50	%	%	NOUN
cjfa-10416	472	51	)	)	PUNCT
cjfa-10416	472	52	,	,	PUNCT
cjfa-10416	472	53	to	to	ADP
cjfa-10416	472	54	the	the	DET
cjfa-10416	472	55	shareholders	shareholder	NOUN
cjfa-10416	472	56	of	of	ADP
cjfa-10416	472	57	target	target	NOUN
cjfa-10416	472	58	companies	company	NOUN
cjfa-10416	472	59	,	,	PUNCT
cjfa-10416	472	60	which	which	PRON
cjfa-10416	472	61	cumulate	cumulate	VERB
cjfa-10416	472	62	average	average	ADJ
cjfa-10416	472	63	abnormal	abnormal	ADJ
cjfa-10416	472	64	earnings	earning	NOUN
cjfa-10416	472	65	(	(	PUNCT
cjfa-10416	472	66	-15.16	-15.16	NOUN
cjfa-10416	472	67	%	%	NOUN
cjfa-10416	472	68	)	)	PUNCT
cjfa-10416	472	69	superior	superior	ADJ
cjfa-10416	472	70	to	to	ADP
cjfa-10416	472	71	the	the	DET
cjfa-10416	472	72	average	average	ADJ
cjfa-10416	472	73	abnormal	abnormal	ADJ
cjfa-10416	472	74	losses	loss	NOUN
cjfa-10416	472	75	(	(	PUNCT
cjfa-10416	472	76	-5.47	-5.47	NUM
cjfa-10416	472	77	%	%	NOUN
cjfa-10416	472	78	)	)	PUNCT
cjfa-10416	472	79	.	.	PUNCT
cjfa-10416	473	1	taking	take	VERB
cjfa-10416	473	2	into	into	ADP
cjfa-10416	473	3	account	account	NOUN
cjfa-10416	473	4	the	the	DET
cjfa-10416	473	5	companies	company	NOUN
cjfa-10416	473	6	,	,	PUNCT
cjfa-10416	473	7	globally	globally	ADV
cjfa-10416	473	8	,	,	PUNCT
cjfa-10416	473	9	the	the	DET
cjfa-10416	473	10	impact	impact	NOUN
cjfa-10416	473	11	of	of	ADP
cjfa-10416	473	12	the	the	DET
cjfa-10416	473	13	preliminary	preliminary	ADJ
cjfa-10416	473	14	announcement	announcement	NOUN
cjfa-10416	473	15	determined	determine	VERB
cjfa-10416	473	16	an	an	DET
cjfa-10416	473	17	accumulation	accumulation	NOUN
cjfa-10416	473	18	of	of	ADP
cjfa-10416	473	19	average	average	ADJ
cjfa-10416	473	20	abnormal	abnormal	ADJ
cjfa-10416	473	21	earnings	earning	NOUN
cjfa-10416	473	22	of	of	ADP
cjfa-10416	473	23	8.60	8.60	NUM
cjfa-10416	473	24	%	%	NOUN
cjfa-10416	473	25	and	and	CCONJ
cjfa-10416	473	26	average	average	ADJ
cjfa-10416	473	27	abnormal	abnormal	ADJ
cjfa-10416	473	28	losses	loss	NOUN
cjfa-10416	473	29	of	of	ADP
cjfa-10416	473	30	-5.29	-5.29	NOUN
cjfa-10416	473	31	%	%	NOUN
cjfa-10416	473	32	.	.	PUNCT
cjfa-10416	474	1	for	for	ADP
cjfa-10416	474	2	this	this	DET
cjfa-10416	474	3	performance	performance	NOUN
cjfa-10416	474	4	,	,	PUNCT
cjfa-10416	474	5	it	it	PRON
cjfa-10416	474	6	contributed	contribute	VERB
cjfa-10416	474	7	basically	basically	ADV
cjfa-10416	474	8	the	the	DET
cjfa-10416	474	9	reaction	reaction	NOUN
cjfa-10416	474	10	that	that	SCONJ
cjfa-10416	474	11	stock	stock	NOUN
cjfa-10416	474	12	prices	price	NOUN
cjfa-10416	474	13	had	have	VERB
cjfa-10416	474	14	immediately	immediately	ADV
cjfa-10416	474	15	after	after	ADP
cjfa-10416	474	16	the	the	DET
cjfa-10416	474	17	disclosure	disclosure	NOUN
cjfa-10416	474	18	of	of	ADP
cjfa-10416	474	19	the	the	DET
cjfa-10416	474	20	preliminary	preliminary	ADJ
cjfa-10416	474	21	announcement	announcement	NOUN
cjfa-10416	474	22	of	of	ADP
cjfa-10416	474	23	the	the	DET
cjfa-10416	474	24	takeover	takeover	NOUN
cjfa-10416	474	25	bids	bid	NOUN
cjfa-10416	474	26	.	.	PUNCT
cjfa-10416	475	1	the	the	DET
cjfa-10416	475	2	acquiring	acquire	VERB
cjfa-10416	475	3	companies	company	NOUN
cjfa-10416	475	4	had	have	VERB
cjfa-10416	475	5	a	a	DET
cjfa-10416	475	6	“	"	PUNCT
cjfa-10416	475	7	peak	peak	NOUN
cjfa-10416	475	8	”	"	PUNCT
cjfa-10416	475	9	of	of	ADP
cjfa-10416	475	10	4,27	4,27	NUM
cjfa-10416	475	11	at	at	ADP
cjfa-10416	475	12	week	week	NOUN
cjfa-10416	475	13	+2	+2	PROPN
cjfa-10416	475	14	,	,	PUNCT
cjfa-10416	475	15	while	while	SCONJ
cjfa-10416	475	16	target	target	NOUN
cjfa-10416	475	17	companies	company	NOUN
cjfa-10416	475	18	had	have	VERB
cjfa-10416	475	19	a	a	DET
cjfa-10416	475	20	“	"	PUNCT
cjfa-10416	475	21	peak	peak	NOUN
cjfa-10416	475	22	”	"	PUNCT
cjfa-10416	475	23	of	of	ADP
cjfa-10416	475	24	67,96	67,96	NUM
cjfa-10416	475	25	at	at	ADP
cjfa-10416	475	26	week	week	NOUN
cjfa-10416	475	27	0	0	NUM
cjfa-10416	475	28	and	and	CCONJ
cjfa-10416	475	29	a	a	DET
cjfa-10416	475	30	replica	replica	NOUN
cjfa-10416	475	31	of	of	ADP
cjfa-10416	475	32	35,83	35,83	NUM
cjfa-10416	475	33	at	at	ADP
cjfa-10416	475	34	week	week	NOUN
cjfa-10416	475	35	+2	+2	PROPN
cjfa-10416	475	36	.	.	PUNCT
cjfa-10416	476	1	despite	despite	SCONJ
cjfa-10416	476	2	the	the	DET
cjfa-10416	476	3	obvious	obvious	ADJ
cjfa-10416	476	4	visual	visual	ADJ
cjfa-10416	476	5	information	information	NOUN
cjfa-10416	476	6	available	available	ADJ
cjfa-10416	476	7	,	,	PUNCT
cjfa-10416	476	8	the	the	DET
cjfa-10416	476	9	null	null	ADJ
cjfa-10416	476	10	hypothesis	hypothesis	NOUN
cjfa-10416	476	11	of	of	ADP
cjfa-10416	476	12	the	the	DET
cjfa-10416	476	13	irrelevance	irrelevance	NOUN
cjfa-10416	476	14	of	of	ADP
cjfa-10416	476	15	the	the	DET
cjfa-10416	476	16	difference	difference	NOUN
cjfa-10416	476	17	of	of	ADP
cjfa-10416	476	18	the	the	DET
cjfa-10416	476	19	average	average	ADJ
cjfa-10416	476	20	abnormal	abnormal	ADJ
cjfa-10416	476	21	returns	return	NOUN
cjfa-10416	476	22	of	of	ADP
cjfa-10416	476	23	the	the	DET
cjfa-10416	476	24	companies	company	NOUN
cjfa-10416	476	25	involved	involve	VERB
cjfa-10416	476	26	in	in	ADP
cjfa-10416	476	27	takeover	takeover	NOUN
cjfa-10416	476	28	bids	bid	NOUN
cjfa-10416	476	29	,	,	PUNCT
cjfa-10416	476	30	in	in	ADP
cjfa-10416	476	31	the	the	DET
cjfa-10416	476	32	period	period	NOUN
cjfa-10416	476	33	further	far	ADV
cjfa-10416	476	34	to	to	ADP
cjfa-10416	476	35	the	the	DET
cjfa-10416	476	36	preliminary	preliminary	ADJ
cjfa-10416	476	37	announcement	announcement	NOUN
cjfa-10416	476	38	(	(	PUNCT
cjfa-10416	476	39	weeks	week	NOUN
cjfa-10416	476	40	-18	-18	PUNCT
cjfa-10416	476	41	to	to	PART
cjfa-10416	476	42	-6	-6	NOUN
cjfa-10416	476	43	and	and	CCONJ
cjfa-10416	476	44	weeks	week	NOUN
cjfa-10416	476	45	+6	+6	PROPN
cjfa-10416	476	46	to	to	PART
cjfa-10416	476	47	+18	+18	ADJ
cjfa-10416	476	48	)	)	PUNCT
cjfa-10416	476	49	and	and	CCONJ
cjfa-10416	476	50	in	in	ADP
cjfa-10416	476	51	the	the	DET
cjfa-10416	476	52	period	period	NOUN
cjfa-10416	476	53	close	close	ADV
cjfa-10416	476	54	to	to	ADP
cjfa-10416	476	55	the	the	DET
cjfa-10416	476	56	preliminary	preliminary	ADJ
cjfa-10416	476	57	announcement	announcement	NOUN
cjfa-10416	476	58	(	(	PUNCT
cjfa-10416	476	59	weeks	week	NOUN
cjfa-10416	476	60	-5	-5	INTJ
cjfa-10416	476	61	to	to	PART
cjfa-10416	476	62	5	5	NUM
cjfa-10416	476	63	)	)	PUNCT
cjfa-10416	476	64	was	be	AUX
cjfa-10416	476	65	n’t	not	PART
cjfa-10416	476	66	rejected	reject	VERB
cjfa-10416	476	67	,	,	PUNCT
cjfa-10416	476	68	due	due	ADP
cjfa-10416	476	69	to	to	ADP
cjfa-10416	476	70	the	the	DET
cjfa-10416	476	71	small	small	ADJ
cjfa-10416	476	72	number	number	NOUN
cjfa-10416	476	73	of	of	ADP
cjfa-10416	476	74	observations	observation	NOUN
cjfa-10416	476	75	.	.	PUNCT
cjfa-10416	477	1	this	this	DET
cjfa-10416	477	2	paper	paper	NOUN
cjfa-10416	477	3	had	have	VERB
cjfa-10416	477	4	two	two	NUM
cjfa-10416	477	5	fundamental	fundamental	ADJ
cjfa-10416	477	6	limitations	limitation	NOUN
cjfa-10416	477	7	.	.	PUNCT
cjfa-10416	478	1	the	the	DET
cjfa-10416	478	2	first	first	ADJ
cjfa-10416	478	3	one	one	NUM
cjfa-10416	478	4	,	,	PUNCT
cjfa-10416	478	5	due	due	ADP
cjfa-10416	478	6	to	to	ADP
cjfa-10416	478	7	the	the	DET
cjfa-10416	478	8	necessity	necessity	NOUN
cjfa-10416	478	9	in	in	ADP
cjfa-10416	478	10	excluding	exclude	VERB
cjfa-10416	478	11	the	the	DET
cjfa-10416	478	12	great	great	ADJ
cjfa-10416	478	13	number	number	NOUN
cjfa-10416	478	14	of	of	ADP
cjfa-10416	478	15	companies	company	NOUN
cjfa-10416	478	16	which	which	PRON
cjfa-10416	478	17	did	do	AUX
cjfa-10416	478	18	n’t	not	PART
cjfa-10416	478	19	have	have	VERB
cjfa-10416	478	20	their	their	PRON
cjfa-10416	478	21	stocks	stock	NOUN
cjfa-10416	478	22	quoted	quote	VERB
cjfa-10416	478	23	in	in	ADP
cjfa-10416	478	24	the	the	DET
cjfa-10416	478	25	portuguese	portuguese	ADJ
cjfa-10416	478	26	stock	stock	NOUN
cjfa-10416	478	27	exchange	exchange	PROPN
cjfa-10416	478	28	(	(	PUNCT
cjfa-10416	478	29	psi-20	psi-20	NOUN
cjfa-10416	478	30	)	)	PUNCT
cjfa-10416	478	31	during	during	ADP
cjfa-10416	478	32	the	the	DET
cjfa-10416	478	33	period	period	NOUN
cjfa-10416	478	34	in	in	ADP
cjfa-10416	478	35	study	study	NOUN
cjfa-10416	478	36	,	,	PUNCT
cjfa-10416	478	37	although	although	SCONJ
cjfa-10416	478	38	they	they	PRON
cjfa-10416	478	39	were	be	AUX
cjfa-10416	478	40	involved	involve	VERB
cjfa-10416	478	41	in	in	ADP
cjfa-10416	478	42	takeover	takeover	NOUN
cjfa-10416	478	43	bids	bid	NOUN
cjfa-10416	478	44	.	.	PUNCT
cjfa-10416	479	1	the	the	DET
cjfa-10416	479	2	second	second	ADJ
cjfa-10416	479	3	one	one	NOUN
cjfa-10416	479	4	was	be	AUX
cjfa-10416	479	5	due	due	ADJ
cjfa-10416	479	6	to	to	ADP
cjfa-10416	479	7	the	the	DET
cjfa-10416	479	8	lack	lack	NOUN
cjfa-10416	479	9	of	of	ADP
cjfa-10416	479	10	information	information	NOUN
cjfa-10416	479	11	existing	exist	VERB
cjfa-10416	479	12	regarding	regard	VERB
cjfa-10416	479	13	the	the	DET
cjfa-10416	479	14	year	year	NOUN
cjfa-10416	479	15	before	before	ADP
cjfa-10416	479	16	2000	2000	NUM
cjfa-10416	479	17	consequence	consequence	NOUN
cjfa-10416	479	18	of	of	ADP
cjfa-10416	479	19	the	the	DET
cjfa-10416	479	20	changes	change	NOUN
cjfa-10416	479	21	implemented	implement	VERB
cjfa-10416	479	22	by	by	ADP
cjfa-10416	479	23	the	the	DET
cjfa-10416	479	24	regulatory	regulatory	ADJ
cjfa-10416	479	25	entity	entity	NOUN
cjfa-10416	479	26	in	in	ADP
cjfa-10416	479	27	relation	relation	NOUN
cjfa-10416	479	28	to	to	PART
cjfa-10416	479	29	referentiation	referentiation	VERB
cjfa-10416	479	30	and	and	CCONJ
cjfa-10416	479	31	to	to	ADP
cjfa-10416	479	32	the	the	DET
cjfa-10416	479	33	content	content	NOUN
cjfa-10416	479	34	of	of	ADP
cjfa-10416	479	35	annual	annual	ADJ
cjfa-10416	479	36	reports	report	NOUN
cjfa-10416	479	37	.	.	PUNCT
cjfa-10416	480	1	in	in	ADP
cjfa-10416	480	2	terms	term	NOUN
cjfa-10416	480	3	of	of	ADP
cjfa-10416	480	4	future	future	ADJ
cjfa-10416	480	5	proposals	proposal	NOUN
cjfa-10416	480	6	,	,	PUNCT
cjfa-10416	480	7	we	we	PRON
cjfa-10416	480	8	recommend	recommend	VERB
cjfa-10416	480	9	a	a	DET
cjfa-10416	480	10	larger	large	ADJ
cjfa-10416	480	11	period	period	NOUN
cjfa-10416	480	12	of	of	ADP
cjfa-10416	480	13	study	study	NOUN
cjfa-10416	480	14	,	,	PUNCT
cjfa-10416	480	15	the	the	DET
cjfa-10416	480	16	use	use	NOUN
cjfa-10416	480	17	of	of	ADP
cjfa-10416	480	18	alternative	alternative	ADJ
cjfa-10416	480	19	methodologies	methodology	NOUN
cjfa-10416	480	20	for	for	ADP
cjfa-10416	480	21	the	the	DET
cjfa-10416	480	22	calculation	calculation	NOUN
cjfa-10416	480	23	of	of	ADP
cjfa-10416	480	24	abnormal	abnormal	ADJ
cjfa-10416	480	25	returns	return	NOUN
cjfa-10416	480	26	,	,	PUNCT
cjfa-10416	480	27	the	the	DET
cjfa-10416	480	28	creation	creation	NOUN
cjfa-10416	480	29	of	of	ADP
cjfa-10416	480	30	a	a	DET
cjfa-10416	480	31	repository	repository	NOUN
cjfa-10416	480	32	of	of	ADP
cjfa-10416	480	33	information	information	NOUN
cjfa-10416	480	34	between	between	ADP
cjfa-10416	480	35	universities	university	NOUN
cjfa-10416	480	36	and	and	CCONJ
cjfa-10416	480	37	companies	company	NOUN
cjfa-10416	480	38	and	and	CCONJ
cjfa-10416	480	39	the	the	DET
cjfa-10416	480	40	widening	widening	NOUN
cjfa-10416	480	41	of	of	ADP
cjfa-10416	480	42	the	the	DET
cjfa-10416	480	43	scope	scope	NOUN
cjfa-10416	480	44	of	of	ADP
cjfa-10416	480	45	study	study	NOUN
cjfa-10416	480	46	to	to	ADP
cjfa-10416	480	47	the	the	DET
cjfa-10416	480	48	iberian	iberian	ADJ
cjfa-10416	480	49	market	market	NOUN
cjfa-10416	480	50	,	,	PUNCT
cjfa-10416	480	51	in	in	ADP
cjfa-10416	480	52	order	order	NOUN
cjfa-10416	480	53	to	to	PART
cjfa-10416	480	54	compare	compare	VERB
cjfa-10416	480	55	these	these	DET
cjfa-10416	480	56	results	result	NOUN
cjfa-10416	480	57	.	.	PUNCT
cjfa-10416	481	1	the	the	DET
cjfa-10416	481	2	impact	impact	NOUN
cjfa-10416	481	3	of	of	ADP
cjfa-10416	481	4	the	the	DET
cjfa-10416	481	5	preliminary	preliminary	ADJ
cjfa-10416	481	6	announcement	announcement	NOUN
cjfa-10416	481	7	…	…	PUNCT
cjfa-10416	481	8	63	63	NUM
cjfa-10416	481	9	 	 	SPACE
cjfa-10416	481	10	references	reference	NOUN
cjfa-10416	481	11	affleck	affleck	NOUN
cjfa-10416	481	12	-	-	PUNCT
cjfa-10416	481	13	graves	graves	PROPN
cjfa-10416	481	14	,	,	PUNCT
cjfa-10416	481	15	j.f	j.f	PROPN
cjfa-10416	481	16	.	.	PROPN
cjfa-10416	481	17	,	,	PUNCT
cjfa-10416	481	18	flack	flack	NOUN
cjfa-10416	481	19	,	,	PUNCT
cjfa-10416	481	20	t.p	t.p	PROPN
cjfa-10416	481	21	.	.	PROPN
cjfa-10416	481	22	&	&	CCONJ
cjfa-10416	481	23	jacobson	jacobson	PROPN
cjfa-10416	481	24	,	,	PUNCT
cjfa-10416	481	25	a.j	a.j	PROPN
cjfa-10416	481	26	.	.	PROPN
cjfa-10416	481	27	(	(	PUNCT
cjfa-10416	481	28	1988	1988	NUM
cjfa-10416	481	29	)	)	PUNCT
cjfa-10416	481	30	.	.	PUNCT
cjfa-10416	482	1	the	the	DET
cjfa-10416	482	2	effect	effect	NOUN
cjfa-10416	482	3	of	of	ADP
cjfa-10416	482	4	merger	merger	NOUN
cjfa-10416	482	5	announcement	announcement	NOUN
cjfa-10416	482	6	on	on	ADP
cjfa-10416	482	7	the	the	DET
cjfa-10416	482	8	share	share	NOUN
cjfa-10416	482	9	prices	price	NOUN
cjfa-10416	482	10	of	of	ADP
cjfa-10416	482	11	acquired	acquire	VERB
cjfa-10416	482	12	and	and	CCONJ
cjfa-10416	482	13	acquiring	acquire	VERB
cjfa-10416	482	14	companies	company	NOUN
cjfa-10416	482	15	.	.	PUNCT
cjfa-10416	483	1	south	south	ADJ
cjfa-10416	483	2	african	african	ADJ
cjfa-10416	483	3	journal	journal	PROPN
cjfa-10416	483	4	of	of	ADP
cjfa-10416	483	5	business	business	NOUN
cjfa-10416	483	6	management	management	NOUN
cjfa-10416	483	7	,	,	PUNCT
cjfa-10416	483	8	19(14	19(14	NOUN
cjfa-10416	483	9	)	)	PUNCT
cjfa-10416	483	10	,	,	PUNCT
cjfa-10416	483	11	pp	pp	ADP
cjfa-10416	483	12	.	.	PUNCT
cjfa-10416	484	1	147	147	NUM
cjfa-10416	484	2	-	-	SYM
cjfa-10416	484	3	154	154	NUM
cjfa-10416	484	4	.	.	PUNCT
cjfa-10416	485	1	agrawal	agrawal	PROPN
cjfa-10416	485	2	,	,	PUNCT
cjfa-10416	485	3	a.	a.	PROPN
cjfa-10416	485	4	,	,	PUNCT
cjfa-10416	485	5	jaffe	jaffe	PROPN
cjfa-10416	485	6	,	,	PUNCT
cjfa-10416	485	7	jeffrey	jeffrey	PROPN
cjfa-10416	485	8	f.	f.	PROPN
cjfa-10416	485	9	&	&	CCONJ
cjfa-10416	485	10	mandelker	mandelker	PROPN
cjfa-10416	485	11	,	,	PUNCT
cjfa-10416	485	12	g.	g.	PROPN
cjfa-10416	485	13	n.	n.	PROPN
cjfa-10416	485	14	(	(	PUNCT
cjfa-10416	485	15	1992	1992	NUM
cjfa-10416	485	16	)	)	PUNCT
cjfa-10416	485	17	.	.	PUNCT
cjfa-10416	486	1	the	the	DET
cjfa-10416	486	2	post	post	ADJ
cjfa-10416	486	3	-	-	ADJ
cjfa-10416	486	4	merger	merger	ADJ
cjfa-10416	486	5	performance	performance	NOUN
cjfa-10416	486	6	of	of	ADP
cjfa-10416	486	7	acquiring	acquire	VERB
cjfa-10416	486	8	firms	firm	NOUN
cjfa-10416	486	9	:	:	PUNCT
cjfa-10416	486	10	a	a	DET
cjfa-10416	486	11	re	re	NOUN
cjfa-10416	486	12	-	-	NOUN
cjfa-10416	486	13	examination	examination	NOUN
cjfa-10416	486	14	of	of	ADP
cjfa-10416	486	15	an	an	DET
cjfa-10416	486	16	anomaly	anomaly	NOUN
cjfa-10416	486	17	.	.	PUNCT
cjfa-10416	487	1	the	the	DET
cjfa-10416	487	2	journal	journal	PROPN
cjfa-10416	487	3	of	of	ADP
cjfa-10416	487	4	finance	finance	NOUN
cjfa-10416	487	5	,	,	PUNCT
cjfa-10416	487	6	vol	vol	NOUN
cjfa-10416	487	7	.	.	PROPN
cjfa-10416	487	8	47	47	NUM
cjfa-10416	487	9	,	,	PUNCT
cjfa-10416	487	10	pp	pp	ADJ
cjfa-10416	487	11	.	.	PUNCT
cjfa-10416	488	1	1605	1605	NUM
cjfa-10416	488	2	-	-	SYM
cjfa-10416	488	3	1620	1620	NUM
cjfa-10416	488	4	.	.	PUNCT
cjfa-10416	489	1	http://dx.doi.org/10.1111/j.1540-6261.1992.tb04674.x	http://dx.doi.org/10.1111/j.1540-6261.1992.tb04674.x	PROPN
cjfa-10416	489	2	.	.	PUNCT
cjfa-10416	489	3	aktas	aktas	PROPN
cjfa-10416	489	4	,	,	PUNCT
cjfa-10416	489	5	n.	n.	NOUN
cjfa-10416	489	6	,	,	PUNCT
cjfa-10416	489	7	bodt	bodt	PROPN
cjfa-10416	489	8	,	,	PUNCT
cjfa-10416	489	9	e.	e.	PROPN
cjfa-10416	489	10	d.	d.	PROPN
cjfa-10416	489	11	&	&	CCONJ
cjfa-10416	489	12	roll	roll	PROPN
cjfa-10416	489	13	,	,	PUNCT
cjfa-10416	489	14	r.	r.	PROPN
cjfa-10416	489	15	(	(	PUNCT
cjfa-10416	489	16	2009	2009	NUM
cjfa-10416	489	17	)	)	PUNCT
cjfa-10416	489	18	.	.	PUNCT
cjfa-10416	490	1	negotiation	negotiation	NOUN
cjfa-10416	490	2	under	under	ADP
cjfa-10416	490	3	a	a	DET
cjfa-10416	490	4	threat	threat	NOUN
cjfa-10416	490	5	of	of	ADP
cjfa-10416	490	6	an	an	DET
cjfa-10416	490	7	auction	auction	NOUN
cjfa-10416	490	8	,	,	PUNCT
cjfa-10416	490	9	afa	afa	PROPN
cjfa-10416	490	10	2009	2009	NUM
cjfa-10416	490	11	san	san	PROPN
cjfa-10416	490	12	francisco	francisco	PROPN
cjfa-10416	490	13	meetings	meeting	NOUN
cjfa-10416	490	14	paper	paper	NOUN
cjfa-10416	490	15	,	,	PUNCT
cjfa-10416	490	16	efa	efa	PROPN
cjfa-10416	490	17	2009	2009	NUM
cjfa-10416	490	18	bergen	bergen	PROPN
cjfa-10416	490	19	meetings	meeting	NOUN
cjfa-10416	490	20	paper	paper	NOUN
cjfa-10416	490	21	,	,	PUNCT
cjfa-10416	490	22	working	working	NOUN
cjfa-10416	490	23	papers	paper	NOUN
cjfa-10416	490	24	series	series	NOUN
cjfa-10416	490	25	.	.	PUNCT
cjfa-10416	491	1	anetie	anetie	PROPN
cjfa-10416	491	2	,	,	PUNCT
cjfa-10416	491	3	manual	manual	NOUN
cjfa-10416	491	4	de	de	X
cjfa-10416	491	5	fusões	fusões	NOUN
cjfa-10416	491	6	e	e	PROPN
cjfa-10416	491	7	aquisições	aquisições	PROPN
cjfa-10416	491	8	de	de	PROPN
cjfa-10416	491	9	empresas	empresas	PROPN
cjfa-10416	491	10	no	no	DET
cjfa-10416	491	11	sector	sector	NOUN
cjfa-10416	491	12	das	das	PROPN
cjfa-10416	491	13	tic	tic	NOUN
cjfa-10416	491	14	,	,	PUNCT
cjfa-10416	491	15	http://www.anetie.pt/	http://www.anetie.pt/	PROPN
cjfa-10416	491	16	userfiles/9	userfiles/9	PROPN
cjfa-10416	491	17	/	/	SYM
cjfa-10416	491	18	file	file	NOUN
cjfa-10416	491	19	/	/	SYM
cjfa-10416	491	20	documentos	documentos	X
cjfa-10416	491	21	/	/	SYM
cjfa-10416	491	22	coopera%c3%a7%c3%a3o%20competitiva	coopera%c3%a7%c3%a3o%20competitiva	NOUN
cjfa-10416	491	23	/	/	SYM
cjfa-10416	491	24	manual	manual	ADJ
cjfa-10416	492	1	%	%	NOUN
cjfa-10416	492	2	20de%20fus%c3%b5es%20e%20aq%20%20de%20empresas%20no%20sector%	20de%20fus%c3%b5es%20e%20aq%20%20de%20empresas%20no%20sector%	NUM
cjfa-10416	492	3	20das%20tic%281%29.pdf	20das%20tic%281%29.pdf	NUM
cjfa-10416	492	4	(	(	PUNCT
cjfa-10416	492	5	accessed	access	VERB
cjfa-10416	492	6	:	:	PUNCT
cjfa-10416	492	7	28.10.2014	28.10.2014	NUM
cjfa-10416	492	8	)	)	PUNCT
cjfa-10416	492	9	.	.	PUNCT
cjfa-10416	493	1	asquith	asquith	PROPN
cjfa-10416	493	2	,	,	PUNCT
cjfa-10416	493	3	p.	p.	PROPN
cjfa-10416	493	4	&	&	CCONJ
cjfa-10416	493	5	kim	kim	PROPN
cjfa-10416	493	6	,	,	PUNCT
cjfa-10416	493	7	e.h	e.h	PROPN
cjfa-10416	493	8	.	.	PROPN
cjfa-10416	493	9	(	(	PUNCT
cjfa-10416	493	10	1982	1982	NUM
cjfa-10416	493	11	)	)	PUNCT
cjfa-10416	493	12	.	.	PUNCT
cjfa-10416	494	1	the	the	DET
cjfa-10416	494	2	impact	impact	NOUN
cjfa-10416	494	3	of	of	ADP
cjfa-10416	494	4	merger	merger	NOUN
cjfa-10416	494	5	bids	bid	NOUN
cjfa-10416	494	6	on	on	ADP
cjfa-10416	494	7	the	the	DET
cjfa-10416	494	8	participating	participate	VERB
cjfa-10416	494	9	firms	firm	NOUN
cjfa-10416	494	10	’	’	PART
cjfa-10416	494	11	security	security	NOUN
cjfa-10416	494	12	holders	holder	NOUN
cjfa-10416	494	13	.	.	PUNCT
cjfa-10416	495	1	the	the	DET
cjfa-10416	495	2	journal	journal	PROPN
cjfa-10416	495	3	of	of	ADP
cjfa-10416	495	4	finance	finance	NOUN
cjfa-10416	495	5	,	,	PUNCT
cjfa-10416	495	6	pp	pp	ADV
cjfa-10416	495	7	.	.	PUNCT
cjfa-10416	496	1	1209	1209	NUM
cjfa-10416	496	2	-	-	SYM
cjfa-10416	496	3	1228	1228	NUM
cjfa-10416	496	4	.	.	PUNCT
cjfa-10416	497	1	ball	ball	PROPN
cjfa-10416	497	2	,	,	PUNCT
cjfa-10416	497	3	r.	r.	PROPN
cjfa-10416	497	4	&	&	CCONJ
cjfa-10416	497	5	brown	brown	PROPN
cjfa-10416	497	6	,	,	PUNCT
cjfa-10416	497	7	p.	p.	NOUN
cjfa-10416	497	8	(	(	PUNCT
cjfa-10416	497	9	1968	1968	NUM
cjfa-10416	497	10	)	)	PUNCT
cjfa-10416	497	11	.	.	PUNCT
cjfa-10416	498	1	an	an	DET
cjfa-10416	498	2	empirical	empirical	ADJ
cjfa-10416	498	3	evaluation	evaluation	NOUN
cjfa-10416	498	4	of	of	ADP
cjfa-10416	498	5	accounting	accounting	NOUN
cjfa-10416	498	6	income	income	NOUN
cjfa-10416	498	7	numbers	number	NOUN
cjfa-10416	498	8	.	.	PUNCT
cjfa-10416	499	1	journal	journal	NOUN
cjfa-10416	499	2	of	of	ADP
cjfa-10416	499	3	accounting	accounting	NOUN
cjfa-10416	499	4	research	research	NOUN
cjfa-10416	499	5	,	,	PUNCT
cjfa-10416	499	6	6	6	NUM
cjfa-10416	499	7	,	,	PUNCT
cjfa-10416	499	8	pp	pp	ADJ
cjfa-10416	499	9	.	.	PUNCT
cjfa-10416	500	1	159	159	NUM
cjfa-10416	500	2	-	-	SYM
cjfa-10416	500	3	178	178	NUM
cjfa-10416	500	4	.	.	PUNCT
cjfa-10416	501	1	http://dx.doi.org/10.2307/2490232	http://dx.doi.org/10.2307/2490232	PROPN
cjfa-10416	501	2	.	.	PUNCT
cjfa-10416	502	1	beaver	beaver	PROPN
cjfa-10416	502	2	,	,	PUNCT
cjfa-10416	502	3	william	william	PROPN
cjfa-10416	502	4	h.	h.	PROPN
cjfa-10416	502	5	(	(	PUNCT
cjfa-10416	502	6	1968	1968	NUM
cjfa-10416	502	7	)	)	PUNCT
cjfa-10416	502	8	.	.	PUNCT
cjfa-10416	503	1	the	the	DET
cjfa-10416	503	2	information	information	NOUN
cjfa-10416	503	3	content	content	NOUN
cjfa-10416	503	4	of	of	ADP
cjfa-10416	503	5	annual	annual	ADJ
cjfa-10416	503	6	earnings	earning	NOUN
cjfa-10416	503	7	announcement	announcement	NOUN
cjfa-10416	503	8	.	.	PUNCT
cjfa-10416	504	1	journal	journal	NOUN
cjfa-10416	504	2	of	of	ADP
cjfa-10416	504	3	accounting	accounting	NOUN
cjfa-10416	504	4	research	research	NOUN
cjfa-10416	504	5	,	,	PUNCT
cjfa-10416	504	6	6	6	NUM
cjfa-10416	504	7	,	,	PUNCT
cjfa-10416	504	8	pp	pp	ADJ
cjfa-10416	504	9	.	.	PUNCT
cjfa-10416	505	1	67	67	NUM
cjfa-10416	505	2	-	-	SYM
cjfa-10416	505	3	92	92	NUM
cjfa-10416	505	4	.	.	PUNCT
cjfa-10416	506	1	http://dx.doi.org/10.2307/2490070	http://dx.doi.org/10.2307/2490070	PROPN
cjfa-10416	506	2	.	.	PUNCT
cjfa-10416	507	1	bradley	bradley	PROPN
cjfa-10416	507	2	,	,	PUNCT
cjfa-10416	507	3	m.	m.	NOUN
cjfa-10416	507	4	,	,	PUNCT
cjfa-10416	507	5	desai	desai	PROPN
cjfa-10416	507	6	,	,	PUNCT
cjfa-10416	507	7	a.	a.	PROPN
cjfa-10416	507	8	,	,	PUNCT
cjfa-10416	507	9	&	&	CCONJ
cjfa-10416	507	10	kim	kim	PROPN
cjfa-10416	507	11	,	,	PUNCT
cjfa-10416	507	12	e.	e.	PROPN
cjfa-10416	507	13	h.	h.	PROPN
cjfa-10416	507	14	(	(	PUNCT
cjfa-10416	507	15	1988	1988	NUM
cjfa-10416	507	16	)	)	PUNCT
cjfa-10416	507	17	.	.	PUNCT
cjfa-10416	508	1	synergistic	synergistic	ADJ
cjfa-10416	508	2	gains	gain	NOUN
cjfa-10416	508	3	from	from	ADP
cjfa-10416	508	4	corporate	corporate	ADJ
cjfa-10416	508	5	acquisitions	acquisition	NOUN
cjfa-10416	508	6	and	and	CCONJ
cjfa-10416	508	7	their	their	PRON
cjfa-10416	508	8	division	division	NOUN
cjfa-10416	508	9	between	between	ADP
cjfa-10416	508	10	the	the	DET
cjfa-10416	508	11	stockholders	stockholder	NOUN
cjfa-10416	508	12	of	of	ADP
cjfa-10416	508	13	target	target	NOUN
cjfa-10416	508	14	and	and	CCONJ
cjfa-10416	508	15	acquiring	acquire	VERB
cjfa-10416	508	16	firms	firm	NOUN
cjfa-10416	508	17	.	.	PUNCT
cjfa-10416	509	1	journal	journal	NOUN
cjfa-10416	509	2	of	of	ADP
cjfa-10416	509	3	financial	financial	ADJ
cjfa-10416	509	4	economics	economic	NOUN
cjfa-10416	509	5	,	,	PUNCT
cjfa-10416	509	6	21	21	NUM
cjfa-10416	509	7	,	,	PUNCT
cjfa-10416	509	8	3	3	NUM
cjfa-10416	509	9	-	-	SYM
cjfa-10416	509	10	40	40	NUM
cjfa-10416	509	11	.	.	PUNCT
cjfa-10416	510	1	http://dx.doi.org/10.1016/0304405x(88)90030-x	http://dx.doi.org/10.1016/0304405x(88)90030-x	PROPN
cjfa-10416	510	2	.	.	PUNCT
cjfa-10416	511	1	carvalho	carvalho	PROPN
cjfa-10416	511	2	,	,	PUNCT
cjfa-10416	511	3	preciosa	preciosa	PROPN
cjfa-10416	511	4	c.	c.	PROPN
cjfa-10416	511	5	s.	s.	PROPN
cjfa-10416	511	6	(	(	PUNCT
cjfa-10416	511	7	2012	2012	NUM
cjfa-10416	511	8	)	)	PUNCT
cjfa-10416	511	9	.	.	PUNCT
cjfa-10416	512	1	reacção	reacção	PROPN
cjfa-10416	512	2	dos	dos	PROPN
cjfa-10416	512	3	mercados	mercados	PROPN
cjfa-10416	512	4	de	de	PROPN
cjfa-10416	512	5	capitais	capitais	PROPN
cjfa-10416	512	6	aos	aos	PROPN
cjfa-10416	512	7	anúncios	anúncios	PROPN
cjfa-10416	512	8	de	de	PROPN
cjfa-10416	512	9	opa	opa	PROPN
cjfa-10416	512	10	’s	’s	PART
cjfa-10416	512	11	em	em	PROPN
cjfa-10416	512	12	portugal	portugal	PROPN
cjfa-10416	512	13	:	:	PUNCT
cjfa-10416	512	14	um	um	INTJ
cjfa-10416	512	15	estudo	estudo	PROPN
cjfa-10416	512	16	de	de	X
cjfa-10416	512	17	evento	evento	PROPN
cjfa-10416	512	18	,	,	PUNCT
cjfa-10416	512	19	dissertation	dissertation	NOUN
cjfa-10416	512	20	in	in	ADP
cjfa-10416	512	21	organizations	organization	NOUN
cjfa-10416	512	22	management	management	NOUN
cjfa-10416	512	23	,	,	PUNCT
cjfa-10416	512	24	instituto	instituto	PROPN
cjfa-10416	512	25	politécnico	politécnico	PROPN
cjfa-10416	512	26	de	de	X
cjfa-10416	512	27	bragança	bragança	PROPN
cjfa-10416	512	28	.	.	PUNCT
cjfa-10416	513	1	chen	chen	PROPN
cjfa-10416	513	2	,	,	PUNCT
cjfa-10416	513	3	c.	c.	PROPN
cjfa-10416	513	4	&	&	CCONJ
cjfa-10416	513	5	cornu	cornu	PROPN
cjfa-10416	513	6	,	,	PUNCT
cjfa-10416	513	7	p.	p.	NOUN
cjfa-10416	513	8	(	(	PUNCT
cjfa-10416	513	9	2002	2002	NUM
cjfa-10416	513	10	)	)	PUNCT
cjfa-10416	513	11	.	.	PUNCT
cjfa-10416	514	1	managerial	managerial	ADJ
cjfa-10416	514	2	performance	performance	NOUN
cjfa-10416	514	3	,	,	PUNCT
cjfa-10416	514	4	bid	bid	NOUN
cjfa-10416	514	5	premiums	premium	NOUN
cjfa-10416	514	6	,	,	PUNCT
cjfa-10416	514	7	and	and	CCONJ
cjfa-10416	514	8	the	the	DET
cjfa-10416	514	9	characteristics	characteristic	NOUN
cjfa-10416	514	10	of	of	ADP
cjfa-10416	514	11	takeover	takeover	NOUN
cjfa-10416	514	12	targets	target	NOUN
cjfa-10416	514	13	.	.	PUNCT
cjfa-10416	515	1	annals	annal	NOUN
cjfa-10416	515	2	of	of	ADP
cjfa-10416	515	3	economics	economic	NOUN
cjfa-10416	515	4	and	and	CCONJ
cjfa-10416	515	5	finance	finance	NOUN
cjfa-10416	515	6	,	,	PUNCT
cjfa-10416	515	7	3	3	NUM
cjfa-10416	515	8	,	,	PUNCT
cjfa-10416	515	9	pp	pp	ADJ
cjfa-10416	515	10	.	.	PUNCT
cjfa-10416	516	1	67	67	NUM
cjfa-10416	516	2	-	-	SYM
cjfa-10416	516	3	84	84	NUM
cjfa-10416	516	4	.	.	PUNCT
cjfa-10416	517	1	comment	comment	NOUN
cjfa-10416	517	2	,	,	PUNCT
cjfa-10416	517	3	r.	r.	PROPN
cjfa-10416	517	4	&	&	CCONJ
cjfa-10416	517	5	schwert	schwert	PROPN
cjfa-10416	517	6	,	,	PUNCT
cjfa-10416	517	7	g.	g.	PROPN
cjfa-10416	517	8	w.	w.	PROPN
cjfa-10416	517	9	(	(	PUNCT
cjfa-10416	517	10	1995	1995	NUM
cjfa-10416	517	11	)	)	PUNCT
cjfa-10416	517	12	.	.	PUNCT
cjfa-10416	518	1	poison	poison	NOUN
cjfa-10416	518	2	or	or	CCONJ
cjfa-10416	518	3	placebo	placebo	NOUN
cjfa-10416	518	4	?	?	PUNCT
cjfa-10416	519	1	evidence	evidence	NOUN
cjfa-10416	519	2	on	on	ADP
cjfa-10416	519	3	the	the	DET
cjfa-10416	519	4	deterrent	deterrent	NOUN
cjfa-10416	519	5	and	and	CCONJ
cjfa-10416	519	6	wealth	wealth	NOUN
cjfa-10416	519	7	effects	effect	NOUN
cjfa-10416	519	8	of	of	ADP
cjfa-10416	519	9	modern	modern	ADJ
cjfa-10416	519	10	antitakeover	antitakeover	ADJ
cjfa-10416	519	11	measures	measure	NOUN
cjfa-10416	519	12	.	.	PUNCT
cjfa-10416	520	1	journal	journal	NOUN
cjfa-10416	520	2	of	of	ADP
cjfa-10416	520	3	financial	financial	ADJ
cjfa-10416	520	4	economics	economic	NOUN
cjfa-10416	520	5	,	,	PUNCT
cjfa-10416	520	6	39	39	NUM
cjfa-10416	520	7	,	,	PUNCT
cjfa-10416	520	8	3	3	NUM
cjfa-10416	520	9	-	-	SYM
cjfa-10416	520	10	43	43	NUM
cjfa-10416	520	11	.	.	PUNCT
cjfa-10416	521	1	demidova	demidova	PROPN
cjfa-10416	521	2	,	,	PUNCT
cjfa-10416	521	3	e.	e.	PROPN
cjfa-10416	521	4	(	(	PUNCT
cjfa-10416	521	5	2007	2007	NUM
cjfa-10416	521	6	)	)	PUNCT
cjfa-10416	521	7	.	.	PUNCT
cjfa-10416	522	1	hostile	hostile	ADJ
cjfa-10416	522	2	takeovers	takeover	NOUN
cjfa-10416	522	3	and	and	CCONJ
cjfa-10416	522	4	defenses	defense	NOUN
cjfa-10416	522	5	against	against	ADP
cjfa-10416	522	6	them	they	PRON
cjfa-10416	522	7	in	in	ADP
cjfa-10416	522	8	russia	russia	PROPN
cjfa-10416	522	9	.	.	PUNCT
cjfa-10416	523	1	problems	problem	NOUN
cjfa-10416	523	2	of	of	ADP
cjfa-10416	523	3	economic	economic	ADJ
cjfa-10416	523	4	transition	transition	NOUN
cjfa-10416	523	5	,	,	PUNCT
cjfa-10416	523	6	50(5	50(5	NUM
cjfa-10416	523	7	)	)	PUNCT
cjfa-10416	523	8	,	,	PUNCT
cjfa-10416	523	9	44	44	NUM
cjfa-10416	523	10	-	-	SYM
cjfa-10416	523	11	60	60	NUM
cjfa-10416	523	12	.	.	PUNCT
cjfa-10416	524	1	http://dx.doi.org/10.2753/pet10611991500503	http://dx.doi.org/10.2753/pet10611991500503	PROPN
cjfa-10416	524	2	.	.	PUNCT
cjfa-10416	524	3	depamphilis	depamphilis	PROPN
cjfa-10416	524	4	,	,	PUNCT
cjfa-10416	524	5	d.	d.	PROPN
cjfa-10416	524	6	(	(	PUNCT
cjfa-10416	524	7	2010	2010	NUM
cjfa-10416	524	8	)	)	PUNCT
cjfa-10416	524	9	.	.	PUNCT
cjfa-10416	525	1	merger	merger	NOUN
cjfa-10416	525	2	and	and	CCONJ
cjfa-10416	525	3	acquisitions	acquisition	NOUN
cjfa-10416	525	4	basics	basic	NOUN
cjfa-10416	525	5	:	:	PUNCT
cjfa-10416	525	6	all	all	PRON
cjfa-10416	525	7	you	you	PRON
cjfa-10416	525	8	need	need	VERB
cjfa-10416	525	9	to	to	PART
cjfa-10416	525	10	know	know	VERB
cjfa-10416	525	11	,	,	PUNCT
cjfa-10416	525	12	london	london	PROPN
cjfa-10416	525	13	,	,	PUNCT
cjfa-10416	525	14	uk	uk	PROPN
cjfa-10416	525	15	:	:	PUNCT
cjfa-10416	525	16	elsevier	elsevier	PROPN
cjfa-10416	525	17	academic	academic	ADJ
cjfa-10416	525	18	press	press	PROPN
cjfa-10416	525	19	.	.	PUNCT
cjfa-10416	526	1	depamphilis	depamphilis	PROPN
cjfa-10416	526	2	,	,	PUNCT
cjfa-10416	526	3	d.	d.	PROPN
cjfa-10416	526	4	(	(	PUNCT
cjfa-10416	526	5	2011	2011	NUM
cjfa-10416	526	6	)	)	PUNCT
cjfa-10416	526	7	.	.	PUNCT
cjfa-10416	527	1	merger	merger	NOUN
cjfa-10416	527	2	,	,	PUNCT
cjfa-10416	527	3	acquisitions	acquisition	NOUN
cjfa-10416	527	4	,	,	PUNCT
cjfa-10416	527	5	and	and	CCONJ
cjfa-10416	527	6	other	other	ADJ
cjfa-10416	527	7	restructuring	restructure	VERB
cjfa-10416	527	8	activities	activity	NOUN
cjfa-10416	527	9	,	,	PUNCT
cjfa-10416	527	10	6th	6th	ADJ
cjfa-10416	527	11	edition	edition	NOUN
cjfa-10416	527	12	,	,	PUNCT
cjfa-10416	527	13	london	london	PROPN
cjfa-10416	527	14	,	,	PUNCT
cjfa-10416	527	15	uk	uk	PROPN
cjfa-10416	527	16	:	:	PUNCT
cjfa-10416	527	17	elsevier	elsevier	PROPN
cjfa-10416	527	18	academic	academic	ADJ
cjfa-10416	527	19	press	press	NOUN
cjfa-10416	527	20	.	.	PUNCT
cjfa-10416	528	1	dodd	dodd	PROPN
cjfa-10416	528	2	,	,	PUNCT
cjfa-10416	528	3	p.	p.	NOUN
cjfa-10416	528	4	&	&	CCONJ
cjfa-10416	528	5	ruback	ruback	PROPN
cjfa-10416	528	6	,	,	PUNCT
cjfa-10416	528	7	r.	r.	PROPN
cjfa-10416	528	8	(	(	PUNCT
cjfa-10416	528	9	1977	1977	NUM
cjfa-10416	528	10	)	)	PUNCT
cjfa-10416	528	11	.	.	PUNCT
cjfa-10416	529	1	tender	tender	NOUN
cjfa-10416	529	2	offers	offer	NOUN
cjfa-10416	529	3	and	and	CCONJ
cjfa-10416	529	4	stockholder	stockholder	NOUN
cjfa-10416	529	5	return	return	NOUN
cjfa-10416	529	6	.	.	PUNCT
cjfa-10416	530	1	journal	journal	NOUN
cjfa-10416	530	2	of	of	ADP
cjfa-10416	530	3	financial	financial	ADJ
cjfa-10416	530	4	economics	economic	NOUN
cjfa-10416	530	5	,	,	PUNCT
cjfa-10416	530	6	5	5	NUM
cjfa-10416	530	7	,	,	PUNCT
cjfa-10416	530	8	pp	pp	ADJ
cjfa-10416	530	9	.	.	PUNCT
cjfa-10416	531	1	351	351	NUM
cjfa-10416	531	2	-	-	SYM
cjfa-10416	531	3	372	372	NUM
cjfa-10416	531	4	.	.	PUNCT
cjfa-10416	532	1	http://dx.doi.org/10.1016/0304-405x(77)90043-5	http://dx.doi.org/10.1016/0304-405x(77)90043-5	PROPN
cjfa-10416	532	2	.	.	PUNCT
cjfa-10416	532	3	joão	joão	PROPN
cjfa-10416	532	4	paulo	paulo	PROPN
cjfa-10416	532	5	braga	braga	PROPN
cjfa-10416	532	6	,	,	PUNCT
cjfa-10416	532	7	luís	luís	PROPN
cjfa-10416	532	8	m.	m.	PROPN
cjfa-10416	532	9	pereira	pereira	PROPN
cjfa-10416	532	10	gomes64	gomes64	PROPN
cjfa-10416	532	11	eckbo	eckbo	PROPN
cjfa-10416	532	12	,	,	PUNCT
cjfa-10416	532	13	b.	b.	PROPN
cjfa-10416	532	14	e.	e.	PROPN
cjfa-10416	532	15	&	&	CCONJ
cjfa-10416	532	16	langhor	langhor	PROPN
cjfa-10416	532	17	,	,	PUNCT
cjfa-10416	532	18	e.	e.	PROPN
cjfa-10416	532	19	(	(	PUNCT
cjfa-10416	532	20	1989	1989	NUM
cjfa-10416	532	21	)	)	PUNCT
cjfa-10416	532	22	.	.	PUNCT
cjfa-10416	533	1	information	information	NOUN
cjfa-10416	533	2	disclosure	disclosure	NOUN
cjfa-10416	533	3	,	,	PUNCT
cjfa-10416	533	4	method	method	NOUN
cjfa-10416	533	5	of	of	ADP
cjfa-10416	533	6	payment	payment	NOUN
cjfa-10416	533	7	,	,	PUNCT
cjfa-10416	533	8	and	and	CCONJ
cjfa-10416	533	9	takeover	takeover	NOUN
cjfa-10416	533	10	premiums	premium	NOUN
cjfa-10416	533	11	:	:	PUNCT
cjfa-10416	533	12	public	public	ADJ
cjfa-10416	533	13	and	and	CCONJ
cjfa-10416	533	14	private	private	ADJ
cjfa-10416	533	15	tender	tender	NOUN
cjfa-10416	533	16	offer	offer	NOUN
cjfa-10416	533	17	,	,	PUNCT
cjfa-10416	533	18	in	in	ADP
cjfa-10416	533	19	france	france	PROPN
cjfa-10416	533	20	.	.	PUNCT
cjfa-10416	534	1	journal	journal	PROPN
cjfa-10416	534	2	of	of	ADP
cjfa-10416	534	3	financial	financial	ADJ
cjfa-10416	534	4	economics	economic	NOUN
cjfa-10416	534	5	,	,	PUNCT
cjfa-10416	534	6	vol.24	vol.24	NOUN
cjfa-10416	534	7	,	,	PUNCT
cjfa-10416	534	8	no.2	no.2	PROPN
cjfa-10416	534	9	,	,	PUNCT
cjfa-10416	534	10	pp	pp	ADJ
cjfa-10416	534	11	.	.	PUNCT
cjfa-10416	535	1	363	363	NUM
cjfa-10416	535	2	-	-	SYM
cjfa-10416	535	3	404	404	NUM
cjfa-10416	535	4	.	.	PUNCT
cjfa-10416	535	5	http://dx.doi.org/10.1016/0304405x(89)90052-4	http://dx.doi.org/10.1016/0304405x(89)90052-4	NOUN
cjfa-10416	535	6	.	.	PUNCT
cjfa-10416	536	1	eckbo	eckbo	PROPN
cjfa-10416	536	2	,	,	PUNCT
cjfa-10416	536	3	b.	b.	PROPN
cjfa-10416	536	4	e.	e.	PROPN
cjfa-10416	536	5	(	(	PUNCT
cjfa-10416	536	6	2008	2008	NUM
cjfa-10416	536	7	)	)	PUNCT
cjfa-10416	536	8	.	.	PUNCT
cjfa-10416	537	1	bidding	bidding	NOUN
cjfa-10416	537	2	strategies	strategy	NOUN
cjfa-10416	537	3	and	and	CCONJ
cjfa-10416	537	4	takeover	takeover	NOUN
cjfa-10416	537	5	premiums	premium	NOUN
cjfa-10416	537	6	:	:	PUNCT
cjfa-10416	537	7	a	a	DET
cjfa-10416	537	8	review	review	NOUN
cjfa-10416	537	9	,	,	PUNCT
cjfa-10416	537	10	working	work	VERB
cjfa-10416	537	11	paper	paper	NOUN
cjfa-10416	537	12	no	no	INTJ
cjfa-10416	537	13	.	.	NOUN
cjfa-10416	537	14	2008	2008	NUM
cjfa-10416	537	15	-	-	SYM
cjfa-10416	537	16	48	48	NUM
cjfa-10416	537	17	,	,	PUNCT
cjfa-10416	537	18	tuck	tuck	NOUN
cjfa-10416	537	19	school	school	NOUN
cjfa-10416	537	20	of	of	ADP
cjfa-10416	537	21	business	business	NOUN
cjfa-10416	537	22	at	at	ADP
cjfa-10416	537	23	dartmouth	dartmouth	PROPN
cjfa-10416	537	24	,	,	PUNCT
cjfa-10416	537	25	hanover	hanover	PROPN
cjfa-10416	537	26	,	,	PUNCT
cjfa-10416	537	27	new	new	PROPN
cjfa-10416	537	28	hampshire	hampshire	PROPN
cjfa-10416	537	29	.	.	PUNCT
cjfa-10416	538	1	http://dx.doi.org/10.1016/j.jcorpfin.2008.09.016	http://dx.doi.org/10.1016/j.jcorpfin.2008.09.016	PROPN
cjfa-10416	538	2	.	.	PUNCT
cjfa-10416	539	1	eisenhardt	eisenhardt	PROPN
cjfa-10416	539	2	,	,	PUNCT
cjfa-10416	539	3	kathleen	kathleen	PROPN
cjfa-10416	539	4	m.	m.	NOUN
cjfa-10416	539	5	(	(	PUNCT
cjfa-10416	539	6	1989	1989	NUM
cjfa-10416	539	7	)	)	PUNCT
cjfa-10416	539	8	.	.	PUNCT
cjfa-10416	540	1	agency	agency	NOUN
cjfa-10416	540	2	theory	theory	NOUN
cjfa-10416	540	3	:	:	PUNCT
cjfa-10416	540	4	assessment	assessment	NOUN
cjfa-10416	540	5	and	and	CCONJ
cjfa-10416	540	6	review	review	NOUN
cjfa-10416	540	7	.	.	PUNCT
cjfa-10416	541	1	academy	academy	PROPN
cjfa-10416	541	2	of	of	ADP
cjfa-10416	541	3	management	management	PROPN
cjfa-10416	541	4	review	review	PROPN
cjfa-10416	541	5	,	,	PUNCT
cjfa-10416	541	6	vol	vol	NOUN
cjfa-10416	541	7	.	.	PROPN
cjfa-10416	541	8	1	1	NUM
cjfa-10416	541	9	,	,	PUNCT
cjfa-10416	541	10	no	no	INTJ
cjfa-10416	541	11	.	.	NOUN
cjfa-10416	541	12	1	1	NUM
cjfa-10416	541	13	,	,	PUNCT
cjfa-10416	541	14	57	57	NUM
cjfa-10416	541	15	-	-	SYM
cjfa-10416	541	16	74	74	NUM
cjfa-10416	541	17	.	.	PUNCT
cjfa-10416	542	1	http://dx.doi.org/10.5465/	http://dx.doi.org/10.5465/	PROPN
cjfa-10416	542	2	amr.1989.4279003	amr.1989.4279003	PROPN
cjfa-10416	542	3	.	.	PROPN
cjfa-10416	542	4	fishman	fishman	PROPN
cjfa-10416	542	5	,	,	PUNCT
cjfa-10416	542	6	michael	michael	PROPN
cjfa-10416	542	7	j.	j.	PROPN
cjfa-10416	542	8	(	(	PUNCT
cjfa-10416	542	9	1985	1985	NUM
cjfa-10416	542	10	)	)	PUNCT
cjfa-10416	542	11	.	.	PUNCT
cjfa-10416	543	1	a	a	DET
cjfa-10416	543	2	theory	theory	NOUN
cjfa-10416	543	3	of	of	ADP
cjfa-10416	543	4	preemptive	preemptive	ADJ
cjfa-10416	543	5	takeover	takeover	NOUN
cjfa-10416	543	6	bidding	bidding	NOUN
cjfa-10416	543	7	,	,	PUNCT
cjfa-10416	543	8	discussion	discussion	NOUN
cjfa-10416	543	9	paper	paper	NOUN
cjfa-10416	543	10	no	no	NOUN
cjfa-10416	543	11	.	.	PUNCT
cjfa-10416	543	12	670	670	NUM
cjfa-10416	543	13	,	,	PUNCT
cjfa-10416	543	14	northwestern	northwestern	ADJ
cjfa-10416	543	15	university	university	NOUN
cjfa-10416	543	16	,	,	PUNCT
cjfa-10416	543	17	illinois	illinois	PROPN
cjfa-10416	543	18	.	.	PUNCT
cjfa-10416	543	19	http://dx.doi.org/10.2307/2555399	http://dx.doi.org/10.2307/2555399	PROPN
cjfa-10416	543	20	.	.	PUNCT
cjfa-10416	544	1	franks	frank	NOUN
cjfa-10416	544	2	,	,	PUNCT
cjfa-10416	544	3	j.	j.	PROPN
cjfa-10416	544	4	,	,	PUNCT
cjfa-10416	544	5	&	&	CCONJ
cjfa-10416	544	6	mayer	mayer	PROPN
cjfa-10416	544	7	,	,	PUNCT
cjfa-10416	544	8	c.	c.	PROPN
cjfa-10416	544	9	(	(	PUNCT
cjfa-10416	544	10	1996	1996	NUM
cjfa-10416	544	11	)	)	PUNCT
cjfa-10416	544	12	.	.	PUNCT
cjfa-10416	545	1	hostile	hostile	ADJ
cjfa-10416	545	2	takeovers	takeover	NOUN
cjfa-10416	545	3	and	and	CCONJ
cjfa-10416	545	4	the	the	DET
cjfa-10416	545	5	correction	correction	NOUN
cjfa-10416	545	6	of	of	ADP
cjfa-10416	545	7	managerial	managerial	ADJ
cjfa-10416	545	8	failure	failure	NOUN
cjfa-10416	545	9	.	.	PUNCT
cjfa-10416	546	1	journal	journal	NOUN
cjfa-10416	546	2	of	of	ADP
cjfa-10416	546	3	financial	financial	ADJ
cjfa-10416	546	4	economics	economic	NOUN
cjfa-10416	546	5	,	,	PUNCT
cjfa-10416	546	6	40	40	NUM
cjfa-10416	546	7	,	,	PUNCT
cjfa-10416	546	8	163	163	NUM
cjfa-10416	546	9	-	-	SYM
cjfa-10416	546	10	181	181	NUM
cjfa-10416	546	11	.	.	PUNCT
cjfa-10416	547	1	http://dx.doi.org/10.1016/0304405x(95)00840-b	http://dx.doi.org/10.1016/0304405x(95)00840-b	NOUN
cjfa-10416	547	2	.	.	PUNCT
cjfa-10416	548	1	gaspar	gaspar	PROPN
cjfa-10416	548	2	,	,	PUNCT
cjfa-10416	548	3	j.	j.	PROPN
cjfa-10416	548	4	m.	m.	PROPN
cjfa-10416	548	5	,	,	PUNCT
cjfa-10416	548	6	&	&	CCONJ
cjfa-10416	548	7	matos	matos	PROPN
cjfa-10416	548	8	,	,	PUNCT
cjfa-10416	548	9	p.	p.	NOUN
cjfa-10416	548	10	(	(	PUNCT
cjfa-10416	548	11	2005	2005	NUM
cjfa-10416	548	12	)	)	PUNCT
cjfa-10416	548	13	.	.	PUNCT
cjfa-10416	549	1	shareholder	shareholder	NOUN
cjfa-10416	549	2	investment	investment	NOUN
cjfa-10416	549	3	horizons	horizon	NOUN
cjfa-10416	549	4	and	and	CCONJ
cjfa-10416	549	5	the	the	DET
cjfa-10416	549	6	market	market	NOUN
cjfa-10416	549	7	for	for	ADP
cjfa-10416	549	8	corporate	corporate	ADJ
cjfa-10416	549	9	control	control	NOUN
cjfa-10416	549	10	.	.	PUNCT
cjfa-10416	550	1	journal	journal	NOUN
cjfa-10416	550	2	of	of	ADP
cjfa-10416	550	3	financial	financial	ADJ
cjfa-10416	550	4	economics	economic	NOUN
cjfa-10416	550	5	,	,	PUNCT
cjfa-10416	550	6	76	76	NUM
cjfa-10416	550	7	,	,	PUNCT
cjfa-10416	550	8	135–165	135–165	NUM
cjfa-10416	550	9	.	.	PUNCT
cjfa-10416	551	1	http://dx.doi	http://dx.doi	NOUN
cjfa-10416	551	2	.	.	PUNCT
cjfa-10416	552	1	org/10.1016	org/10.1016	PROPN
cjfa-10416	552	2	/	/	SYM
cjfa-10416	552	3	j.jfineco.2004.10.002	j.jfineco.2004.10.002	PROPN
cjfa-10416	552	4	.	.	PUNCT
cjfa-10416	552	5	gaughan	gaughan	PROPN
cjfa-10416	552	6	,	,	PUNCT
cjfa-10416	552	7	patrick	patrick	PROPN
cjfa-10416	552	8	a.	a.	PROPN
cjfa-10416	552	9	(	(	PUNCT
cjfa-10416	552	10	2005	2005	NUM
cjfa-10416	552	11	)	)	PUNCT
cjfa-10416	552	12	.	.	PUNCT
cjfa-10416	553	1	mergers	merger	NOUN
cjfa-10416	553	2	:	:	PUNCT
cjfa-10416	553	3	what	what	PRON
cjfa-10416	553	4	can	can	AUX
cjfa-10416	553	5	go	go	VERB
cjfa-10416	553	6	wrong	wrong	ADV
cjfa-10416	553	7	and	and	CCONJ
cjfa-10416	553	8	how	how	SCONJ
cjfa-10416	553	9	to	to	PART
cjfa-10416	553	10	prevent	prevent	VERB
cjfa-10416	553	11	it	it	PRON
cjfa-10416	553	12	,	,	PUNCT
cjfa-10416	553	13	new	new	PROPN
cjfa-10416	553	14	jersey	jersey	PROPN
cjfa-10416	553	15	,	,	PUNCT
cjfa-10416	553	16	john	john	PROPN
cjfa-10416	553	17	wiley	wiley	PROPN
cjfa-10416	553	18	&	&	CCONJ
cjfa-10416	553	19	sons	sons	PROPN
cjfa-10416	553	20	,	,	PUNCT
cjfa-10416	553	21	inc	inc	PROPN
cjfa-10416	553	22	.	.	PROPN
cjfa-10416	553	23	gaughan	gaughan	PROPN
cjfa-10416	553	24	,	,	PUNCT
cjfa-10416	553	25	patrick	patrick	PROPN
cjfa-10416	553	26	a.	a.	PROPN
cjfa-10416	553	27	(	(	PUNCT
cjfa-10416	553	28	2007	2007	NUM
cjfa-10416	553	29	)	)	PUNCT
cjfa-10416	553	30	.	.	PUNCT
cjfa-10416	554	1	mergers	merger	NOUN
cjfa-10416	554	2	,	,	PUNCT
cjfa-10416	554	3	acquisitions	acquisition	NOUN
cjfa-10416	554	4	,	,	PUNCT
cjfa-10416	554	5	and	and	CCONJ
cjfa-10416	554	6	other	other	ADJ
cjfa-10416	554	7	corporate	corporate	ADJ
cjfa-10416	554	8	restructurings	restructuring	NOUN
cjfa-10416	554	9	,	,	PUNCT
cjfa-10416	554	10	4th	4th	ADJ
cjfa-10416	554	11	edition	edition	NOUN
cjfa-10416	554	12	,	,	PUNCT
cjfa-10416	554	13	new	new	PROPN
cjfa-10416	554	14	jersey	jersey	PROPN
cjfa-10416	554	15	,	,	PUNCT
cjfa-10416	554	16	john	john	PROPN
cjfa-10416	554	17	wiley	wiley	PROPN
cjfa-10416	554	18	&	&	CCONJ
cjfa-10416	554	19	sons	sons	PROPN
cjfa-10416	554	20	,	,	PUNCT
cjfa-10416	554	21	inc	inc	PROPN
cjfa-10416	554	22	.	.	PROPN
cjfa-10416	554	23	herger	herger	PROPN
cjfa-10416	554	24	,	,	PUNCT
cjfa-10416	554	25	n.	n.	NOUN
cjfa-10416	554	26	,	,	PUNCT
cjfa-10416	554	27	&	&	CCONJ
cjfa-10416	554	28	mccorriston	mccorriston	PROPN
cjfa-10416	554	29	,	,	PUNCT
cjfa-10416	554	30	s.	s.	PROPN
cjfa-10416	554	31	(	(	PUNCT
cjfa-10416	554	32	2013	2013	NUM
cjfa-10416	554	33	)	)	PUNCT
cjfa-10416	554	34	.	.	PUNCT
cjfa-10416	555	1	horizontal	horizontal	ADJ
cjfa-10416	555	2	,	,	PUNCT
cjfa-10416	555	3	vertical	vertical	ADJ
cjfa-10416	555	4	,	,	PUNCT
cjfa-10416	555	5	and	and	CCONJ
cjfa-10416	555	6	conglomerate	conglomerate	NOUN
cjfa-10416	555	7	fdi	fdi	NOUN
cjfa-10416	555	8	:	:	PUNCT
cjfa-10416	555	9	evidence	evidence	NOUN
cjfa-10416	555	10	from	from	ADP
cjfa-10416	555	11	cross	cross	NOUN
cjfa-10416	555	12	border	border	NOUN
cjfa-10416	555	13	acquisitions	acquisition	NOUN
cjfa-10416	555	14	,	,	PUNCT
cjfa-10416	555	15	department	department	NOUN
cjfa-10416	555	16	of	of	ADP
cjfa-10416	555	17	economics	economic	NOUN
cjfa-10416	555	18	:	:	PUNCT
cjfa-10416	555	19	university	university	NOUN
cjfa-10416	555	20	of	of	ADP
cjfa-10416	555	21	exeter	exeter	PROPN
cjfa-10416	555	22	business	business	NOUN
cjfa-10416	555	23	school	school	NOUN
cjfa-10416	555	24	,	,	PUNCT
cjfa-10416	555	25	study	study	NOUN
cjfa-10416	555	26	center	center	NOUN
cjfa-10416	555	27	gerzensee	gerzensee	PROPN
cjfa-10416	555	28	.	.	PUNCT
cjfa-10416	556	1	jarque	jarque	NOUN
cjfa-10416	556	2	,	,	PUNCT
cjfa-10416	556	3	c.m	c.m	PROPN
cjfa-10416	556	4	.	.	PROPN
cjfa-10416	556	5	,	,	PUNCT
cjfa-10416	556	6	&	&	CCONJ
cjfa-10416	556	7	bera	bera	NOUN
cjfa-10416	556	8	,	,	PUNCT
cjfa-10416	556	9	a.k	a.k	PROPN
cjfa-10416	556	10	.	.	PROPN
cjfa-10416	556	11	(	(	PUNCT
cjfa-10416	556	12	1982	1982	NUM
cjfa-10416	556	13	)	)	PUNCT
cjfa-10416	556	14	.	.	PUNCT
cjfa-10416	557	1	model	model	NOUN
cjfa-10416	557	2	specification	specification	NOUN
cjfa-10416	557	3	tests	test	NOUN
cjfa-10416	557	4	:	:	PUNCT
cjfa-10416	557	5	a	a	DET
cjfa-10416	557	6	simultaneous	simultaneous	ADJ
cjfa-10416	557	7	approach	approach	NOUN
cjfa-10416	557	8	.	.	PUNCT
cjfa-10416	558	1	journal	journal	NOUN
cjfa-10416	558	2	of	of	ADP
cjfa-10416	558	3	econometrics	econometric	NOUN
cjfa-10416	558	4	,	,	PUNCT
cjfa-10416	558	5	vol	vol	NOUN
cjfa-10416	558	6	.	.	PROPN
cjfa-10416	558	7	20	20	NUM
cjfa-10416	558	8	.	.	PUNCT
cjfa-10416	559	1	pp	pp	ADJ
cjfa-10416	559	2	.	.	PUNCT
cjfa-10416	560	1	59	59	NUM
cjfa-10416	560	2	-	-	SYM
cjfa-10416	560	3	82	82	NUM
cjfa-10416	560	4	.	.	PUNCT
cjfa-10416	561	1	jarque	jarque	NOUN
cjfa-10416	561	2	,	,	PUNCT
cjfa-10416	561	3	c.	c.	PROPN
cjfa-10416	561	4	m.	m.	NOUN
cjfa-10416	561	5	,	,	PUNCT
cjfa-10416	561	6	&	&	CCONJ
cjfa-10416	561	7	bera	bera	NOUN
cjfa-10416	561	8	,	,	PUNCT
cjfa-10416	561	9	a.	a.	PROPN
cjfa-10416	561	10	k.	k.	PROPN
cjfa-10416	561	11	(	(	PUNCT
cjfa-10416	561	12	1987	1987	NUM
cjfa-10416	561	13	)	)	PUNCT
cjfa-10416	561	14	.	.	PUNCT
cjfa-10416	562	1	a	a	DET
cjfa-10416	562	2	test	test	NOUN
cjfa-10416	562	3	for	for	ADP
cjfa-10416	562	4	normality	normality	NOUN
cjfa-10416	562	5	of	of	ADP
cjfa-10416	562	6	observations	observation	NOUN
cjfa-10416	562	7	and	and	CCONJ
cjfa-10416	562	8	regression	regression	NOUN
cjfa-10416	562	9	residuals	residual	NOUN
cjfa-10416	562	10	.	.	PUNCT
cjfa-10416	563	1	international	international	ADJ
cjfa-10416	563	2	statistical	statistical	ADJ
cjfa-10416	563	3	review	review	NOUN
cjfa-10416	563	4	,	,	PUNCT
cjfa-10416	563	5	vol	vol	NOUN
cjfa-10416	563	6	.	.	PROPN
cjfa-10416	564	1	55	55	NUM
cjfa-10416	564	2	,	,	PUNCT
cjfa-10416	564	3	no	no	INTJ
cjfa-10416	564	4	.	.	NOUN
cjfa-10416	564	5	2	2	NUM
cjfa-10416	564	6	,	,	PUNCT
cjfa-10416	564	7	pp	pp	ADJ
cjfa-10416	564	8	.	.	PUNCT
cjfa-10416	565	1	163	163	NUM
cjfa-10416	565	2	-	-	SYM
cjfa-10416	565	3	172	172	NUM
cjfa-10416	565	4	.	.	PUNCT
cjfa-10416	566	1	http://dx.doi	http://dx.doi	NOUN
cjfa-10416	566	2	.	.	PUNCT
cjfa-10416	567	1	org/10.2307/1403192	org/10.2307/1403192	NOUN
cjfa-10416	567	2	.	.	PUNCT
cjfa-10416	568	1	jensen	jensen	PROPN
cjfa-10416	568	2	,	,	PUNCT
cjfa-10416	568	3	m.	m.	PROPN
cjfa-10416	568	4	c.	c.	PROPN
cjfa-10416	568	5	,	,	PUNCT
cjfa-10416	568	6	&	&	CCONJ
cjfa-10416	568	7	ruback	ruback	PROPN
cjfa-10416	568	8	,	,	PUNCT
cjfa-10416	568	9	r.s	r.s	PROPN
cjfa-10416	568	10	.	.	PROPN
cjfa-10416	568	11	(	(	PUNCT
cjfa-10416	568	12	1983	1983	NUM
cjfa-10416	568	13	)	)	PUNCT
cjfa-10416	568	14	.	.	PUNCT
cjfa-10416	569	1	the	the	DET
cjfa-10416	569	2	market	market	NOUN
cjfa-10416	569	3	for	for	ADP
cjfa-10416	569	4	corporate	corporate	ADJ
cjfa-10416	569	5	control	control	NOUN
cjfa-10416	569	6	:	:	PUNCT
cjfa-10416	569	7	the	the	DET
cjfa-10416	569	8	scientific	scientific	ADJ
cjfa-10416	569	9	evidence	evidence	NOUN
cjfa-10416	569	10	.	.	PUNCT
cjfa-10416	570	1	journal	journal	NOUN
cjfa-10416	570	2	of	of	ADP
cjfa-10416	570	3	financial	financial	ADJ
cjfa-10416	570	4	economics	economic	NOUN
cjfa-10416	570	5	,	,	PUNCT
cjfa-10416	570	6	11	11	NUM
cjfa-10416	570	7	,	,	PUNCT
cjfa-10416	570	8	5	5	NUM
cjfa-10416	570	9	-	-	SYM
cjfa-10416	570	10	50	50	NUM
cjfa-10416	570	11	.	.	PUNCT
cjfa-10416	571	1	http://dx.doi.org/10.1016/0304405x(83)90004-1	http://dx.doi.org/10.1016/0304405x(83)90004-1	PROPN
cjfa-10416	571	2	.	.	PUNCT
cjfa-10416	572	1	jensen	jensen	PROPN
cjfa-10416	572	2	,	,	PUNCT
cjfa-10416	572	3	michael	michael	PROPN
cjfa-10416	572	4	c.	c.	PROPN
cjfa-10416	572	5	,	,	PUNCT
cjfa-10416	572	6	&	&	CCONJ
cjfa-10416	572	7	meckling	meckling	PROPN
cjfa-10416	572	8	,	,	PUNCT
cjfa-10416	572	9	william	william	PROPN
cjfa-10416	572	10	h.	h.	PROPN
cjfa-10416	572	11	(	(	PUNCT
cjfa-10416	572	12	1976	1976	NUM
cjfa-10416	572	13	)	)	PUNCT
cjfa-10416	572	14	.	.	PUNCT
cjfa-10416	573	1	theory	theory	NOUN
cjfa-10416	573	2	of	of	ADP
cjfa-10416	573	3	the	the	DET
cjfa-10416	573	4	firm	firm	NOUN
cjfa-10416	573	5	:	:	PUNCT
cjfa-10416	573	6	managerial	managerial	ADJ
cjfa-10416	573	7	behavior	behavior	NOUN
cjfa-10416	573	8	,	,	PUNCT
cjfa-10416	573	9	agency	agency	NOUN
cjfa-10416	573	10	costs	cost	NOUN
cjfa-10416	573	11	and	and	CCONJ
cjfa-10416	573	12	ownership	ownership	NOUN
cjfa-10416	573	13	structure	structure	NOUN
cjfa-10416	573	14	.	.	PUNCT
cjfa-10416	574	1	journal	journal	NOUN
cjfa-10416	574	2	of	of	ADP
cjfa-10416	574	3	financial	financial	ADJ
cjfa-10416	574	4	economics	economic	NOUN
cjfa-10416	574	5	,	,	PUNCT
cjfa-10416	574	6	october	october	PROPN
cjfa-10416	574	7	,	,	PUNCT
cjfa-10416	574	8	v.	v.	ADP
cjfa-10416	574	9	3	3	NUM
cjfa-10416	574	10	,	,	PUNCT
cjfa-10416	574	11	no	no	INTJ
cjfa-10416	574	12	.	.	NOUN
cjfa-10416	574	13	4	4	NUM
cjfa-10416	574	14	,	,	PUNCT
cjfa-10416	574	15	pp	pp	ADJ
cjfa-10416	574	16	.	.	PUNCT
cjfa-10416	575	1	305	305	NUM
cjfa-10416	575	2	-	-	SYM
cjfa-10416	575	3	360	360	NUM
cjfa-10416	575	4	.	.	PUNCT
cjfa-10416	576	1	http://dx.doi.org/10.1016/0304-405x(76)90026-x	http://dx.doi.org/10.1016/0304-405x(76)90026-x	NOUN
cjfa-10416	576	2	.	.	PUNCT
cjfa-10416	577	1	johansson	johansson	PROPN
cjfa-10416	577	2	,	,	PUNCT
cjfa-10416	577	3	m.	m.	NOUN
cjfa-10416	577	4	,	,	PUNCT
cjfa-10416	577	5	&	&	CCONJ
cjfa-10416	577	6	torstensson	torstensson	PROPN
cjfa-10416	577	7	,	,	PUNCT
cjfa-10416	577	8	m.	m.	NOUN
cjfa-10416	577	9	(	(	PUNCT
cjfa-10416	577	10	2008	2008	NUM
cjfa-10416	577	11	)	)	PUNCT
cjfa-10416	577	12	.	.	PUNCT
cjfa-10416	578	1	hostile	hostile	ADJ
cjfa-10416	578	2	takeovers	takeover	NOUN
cjfa-10416	578	3	–	–	PUNCT
cjfa-10416	578	4	the	the	DET
cjfa-10416	578	5	power	power	NOUN
cjfa-10416	578	6	of	of	ADP
cjfa-10416	578	7	the	the	DET
cjfa-10416	578	8	prey	prey	NOUN
cjfa-10416	578	9	,	,	PUNCT
cjfa-10416	578	10	master	master	NOUN
cjfa-10416	578	11	’s	’s	PART
cjfa-10416	578	12	thesis	thesis	NOUN
cjfa-10416	578	13	in	in	ADP
cjfa-10416	578	14	finance	finance	NOUN
cjfa-10416	578	15	,	,	PUNCT
cjfa-10416	578	16	jönköping	jönköpe	VERB
cjfa-10416	578	17	international	international	ADJ
cjfa-10416	578	18	business	business	NOUN
cjfa-10416	578	19	school	school	NOUN
cjfa-10416	578	20	,	,	PUNCT
cjfa-10416	578	21	jönköping	jönköpe	VERB
cjfa-10416	578	22	university	university	NOUN
cjfa-10416	578	23	,	,	PUNCT
cjfa-10416	578	24	suécia	suécia	PROPN
cjfa-10416	578	25	.	.	PUNCT
cjfa-10416	579	1	lintner	lintner	PROPN
cjfa-10416	579	2	,	,	PUNCT
cjfa-10416	579	3	j.	j.	PROPN
cjfa-10416	579	4	(	(	PUNCT
cjfa-10416	579	5	1965	1965	NUM
cjfa-10416	579	6	)	)	PUNCT
cjfa-10416	579	7	.	.	PUNCT
cjfa-10416	580	1	the	the	DET
cjfa-10416	580	2	valuation	valuation	NOUN
cjfa-10416	580	3	of	of	ADP
cjfa-10416	580	4	risk	risk	NOUN
cjfa-10416	580	5	assets	asset	NOUN
cjfa-10416	580	6	and	and	CCONJ
cjfa-10416	580	7	the	the	DET
cjfa-10416	580	8	selection	selection	NOUN
cjfa-10416	580	9	of	of	ADP
cjfa-10416	580	10	risky	risky	ADJ
cjfa-10416	580	11	investments	investment	NOUN
cjfa-10416	580	12	in	in	ADP
cjfa-10416	580	13	stock	stock	NOUN
cjfa-10416	580	14	portfolios	portfolio	NOUN
cjfa-10416	580	15	and	and	CCONJ
cjfa-10416	580	16	capital	capital	NOUN
cjfa-10416	580	17	budgets	budget	NOUN
cjfa-10416	580	18	.	.	PUNCT
cjfa-10416	581	1	the	the	DET
cjfa-10416	581	2	review	review	NOUN
cjfa-10416	581	3	of	of	ADP
cjfa-10416	581	4	economics	economic	NOUN
cjfa-10416	581	5	and	and	CCONJ
cjfa-10416	581	6	statistics	statistic	NOUN
cjfa-10416	581	7	,	,	PUNCT
cjfa-10416	581	8	vol	vol	NOUN
cjfa-10416	581	9	.	.	PROPN
cjfa-10416	582	1	47	47	NUM
cjfa-10416	582	2	,	,	PUNCT
cjfa-10416	582	3	pp	pp	ADJ
cjfa-10416	582	4	.	.	PUNCT
cjfa-10416	583	1	13	13	NUM
cjfa-10416	583	2	-	-	SYM
cjfa-10416	583	3	37	37	NUM
cjfa-10416	583	4	.	.	PUNCT
cjfa-10416	584	1	http://dx.doi.org/10.2307/1924119	http://dx.doi.org/10.2307/1924119	PROPN
cjfa-10416	584	2	.	.	PUNCT
cjfa-10416	584	3	martynova	martynova	PROPN
cjfa-10416	584	4	,	,	PUNCT
cjfa-10416	584	5	m.	m.	NOUN
cjfa-10416	584	6	,	,	PUNCT
cjfa-10416	584	7	&	&	CCONJ
cjfa-10416	584	8	renneboog	renneboog	PROPN
cjfa-10416	584	9	,	,	PUNCT
cjfa-10416	584	10	l.	l.	PROPN
cjfa-10416	584	11	(	(	PUNCT
cjfa-10416	584	12	2006	2006	NUM
cjfa-10416	584	13	)	)	PUNCT
cjfa-10416	584	14	.	.	PUNCT
cjfa-10416	585	1	mergers	merger	NOUN
cjfa-10416	585	2	and	and	CCONJ
cjfa-10416	585	3	acquisitions	acquisition	NOUN
cjfa-10416	585	4	in	in	ADP
cjfa-10416	585	5	europe	europe	PROPN
cjfa-10416	585	6	.	.	PUNCT
cjfa-10416	586	1	tilec	tilec	NOUN
cjfa-10416	586	2	discussion	discussion	NOUN
cjfa-10416	586	3	paper	paper	NOUN
cjfa-10416	586	4	,	,	PUNCT
cjfa-10416	586	5	tilburg	tilburg	PROPN
cjfa-10416	586	6	university	university	NOUN
cjfa-10416	586	7	,	,	PUNCT
cjfa-10416	586	8	1	1	NUM
cjfa-10416	586	9	-	-	SYM
cjfa-10416	586	10	77	77	NUM
cjfa-10416	586	11	.	.	PUNCT
cjfa-10416	587	1	http://dx.doi.org/10.2139/ssrn.880379	http://dx.doi.org/10.2139/ssrn.880379	X
cjfa-10416	587	2	.	.	PUNCT
cjfa-10416	588	1	the	the	DET
cjfa-10416	588	2	impact	impact	NOUN
cjfa-10416	588	3	of	of	ADP
cjfa-10416	588	4	the	the	DET
cjfa-10416	588	5	preliminary	preliminary	ADJ
cjfa-10416	588	6	announcement	announcement	NOUN
cjfa-10416	588	7	…	…	PUNCT
cjfa-10416	588	8	65	65	NUM
cjfa-10416	588	9	neves	neve	NOUN
cjfa-10416	588	10	,	,	PUNCT
cjfa-10416	588	11	j.	j.	PROPN
cjfa-10416	588	12	c.	c.	PROPN
cjfa-10416	588	13	(	(	PUNCT
cjfa-10416	588	14	2006	2006	NUM
cjfa-10416	588	15	)	)	PUNCT
cjfa-10416	588	16	.	.	PUNCT
cjfa-10416	589	1	corporate	corporate	ADJ
cjfa-10416	589	2	e	e	PROPN
cjfa-10416	589	3	teoria	teoria	PROPN
cjfa-10416	589	4	da	da	PROPN
cjfa-10416	589	5	agência	agência	PROPN
cjfa-10416	589	6	.	.	PUNCT
cjfa-10416	590	1	diário	diário	PROPN
cjfa-10416	590	2	de	de	PROPN
cjfa-10416	590	3	notícias	notícias	PROPN
cjfa-10416	590	4	.	.	PUNCT
cjfa-10416	591	1	http://www.dn.pt/	http://www.dn.pt/	PROPN
cjfa-10416	591	2	inicio	inicio	PROPN
cjfa-10416	591	3	/	/	SYM
cjfa-10416	591	4	interior.aspx?content_id=648449&page=-1	interior.aspx?content_id=648449&page=-1	ADJ
cjfa-10416	591	5	(	(	PUNCT
cjfa-10416	591	6	accessed	access	VERB
cjfa-10416	591	7	:	:	PUNCT
cjfa-10416	591	8	22.12.2014	22.12.2014	NUM
cjfa-10416	591	9	)	)	PUNCT
cjfa-10416	591	10	.	.	PUNCT
cjfa-10416	592	1	sacchetto	sacchetto	PROPN
cjfa-10416	592	2	,	,	PUNCT
cjfa-10416	592	3	s.	s.	PROPN
cjfa-10416	592	4	&	&	CCONJ
cjfa-10416	592	5	dimopoulos	dimopoulos	PROPN
cjfa-10416	592	6	,	,	PUNCT
cjfa-10416	592	7	t.	t.	PROPN
cjfa-10416	592	8	(	(	PUNCT
cjfa-10416	592	9	2008	2008	NUM
cjfa-10416	592	10	)	)	PUNCT
cjfa-10416	592	11	.	.	PUNCT
cjfa-10416	593	1	preemptive	preemptive	ADJ
cjfa-10416	593	2	bidding	bidding	NOUN
cjfa-10416	593	3	,	,	PUNCT
cjfa-10416	593	4	target	target	NOUN
cjfa-10416	593	5	resistance	resistance	NOUN
cjfa-10416	593	6	and	and	CCONJ
cjfa-10416	593	7	takeover	takeover	NOUN
cjfa-10416	593	8	premia	premia	NOUN
cjfa-10416	593	9	:	:	PUNCT
cjfa-10416	593	10	an	an	DET
cjfa-10416	593	11	empirical	empirical	ADJ
cjfa-10416	593	12	investigation	investigation	NOUN
cjfa-10416	593	13	.	.	PUNCT
cjfa-10416	594	1	job	job	NOUN
cjfa-10416	594	2	market	market	NOUN
cjfa-10416	594	3	paper	paper	NOUN
cjfa-10416	594	4	,	,	PUNCT
cjfa-10416	594	5	london	london	PROPN
cjfa-10416	594	6	business	business	NOUN
cjfa-10416	594	7	school	school	PROPN
cjfa-10416	594	8	,	,	PUNCT
cjfa-10416	594	9	london	london	PROPN
cjfa-10416	594	10	.	.	PUNCT
cjfa-10416	595	1	schoenberg	schoenberg	PROPN
cjfa-10416	595	2	,	,	PUNCT
cjfa-10416	595	3	r.	r.	PROPN
cjfa-10416	595	4	,	,	PUNCT
cjfa-10416	595	5	&	&	CCONJ
cjfa-10416	595	6	thornton	thornton	PROPN
cjfa-10416	595	7	,	,	PUNCT
cjfa-10416	595	8	d.	d.	PROPN
cjfa-10416	595	9	(	(	PUNCT
cjfa-10416	595	10	2006	2006	NUM
cjfa-10416	595	11	)	)	PUNCT
cjfa-10416	595	12	.	.	PUNCT
cjfa-10416	596	1	the	the	DET
cjfa-10416	596	2	impact	impact	NOUN
cjfa-10416	596	3	of	of	ADP
cjfa-10416	596	4	bid	bid	NOUN
cjfa-10416	596	5	defenses	defense	NOUN
cjfa-10416	596	6	in	in	ADP
cjfa-10416	596	7	hostile	hostile	ADJ
cjfa-10416	596	8	acquisitions	acquisition	NOUN
cjfa-10416	596	9	.	.	PUNCT
cjfa-10416	597	1	european	european	ADJ
cjfa-10416	597	2	management	management	PROPN
cjfa-10416	597	3	journal	journal	PROPN
cjfa-10416	597	4	,	,	PUNCT
cjfa-10416	597	5	24	24	NUM
cjfa-10416	597	6	,	,	PUNCT
cjfa-10416	597	7	142	142	NUM
cjfa-10416	597	8	-	-	SYM
cjfa-10416	597	9	150	150	NUM
cjfa-10416	597	10	.	.	PUNCT
cjfa-10416	598	1	schoenberg	schoenberg	PROPN
cjfa-10416	598	2	,	,	PUNCT
cjfa-10416	598	3	r.	r.	PROPN
cjfa-10416	598	4	(	(	PUNCT
cjfa-10416	598	5	2003	2003	NUM
cjfa-10416	598	6	)	)	PUNCT
cjfa-10416	598	7	.	.	PUNCT
cjfa-10416	599	1	mergers	merger	NOUN
cjfa-10416	599	2	and	and	CCONJ
cjfa-10416	599	3	acquisition	acquisition	NOUN
cjfa-10416	599	4	:	:	PUNCT
cjfa-10416	599	5	motives	motive	NOUN
cjfa-10416	599	6	,	,	PUNCT
cjfa-10416	599	7	value	value	NOUN
cjfa-10416	599	8	creation	creation	NOUN
cjfa-10416	599	9	and	and	CCONJ
cjfa-10416	599	10	implementation	implementation	NOUN
cjfa-10416	599	11	,	,	PUNCT
cjfa-10416	599	12	the	the	DET
cjfa-10416	599	13	oxford	oxford	ADJ
cjfa-10416	599	14	handbook	handbook	NOUN
cjfa-10416	599	15	of	of	ADP
cjfa-10416	599	16	corporate	corporate	ADJ
cjfa-10416	599	17	strategy	strategy	NOUN
cjfa-10416	599	18	(	(	PUNCT
cjfa-10416	599	19	eds	ed	NOUN
cjfa-10416	599	20	)	)	PUNCT
cjfa-10416	599	21	,	,	PUNCT
cjfa-10416	599	22	faulkner	faulkner	PROPN
cjfa-10416	599	23	&	&	CCONJ
cjfa-10416	599	24	campbell	campbell	PROPN
cjfa-10416	599	25	,	,	PUNCT
cjfa-10416	599	26	oxford	oxford	PROPN
cjfa-10416	599	27	university	university	PROPN
cjfa-10416	599	28	press	press	NOUN
cjfa-10416	599	29	.	.	PUNCT
cjfa-10416	600	1	schwert	schwert	PROPN
cjfa-10416	600	2	,	,	PUNCT
cjfa-10416	600	3	g.	g.	PROPN
cjfa-10416	600	4	william	william	PROPN
cjfa-10416	600	5	(	(	PUNCT
cjfa-10416	600	6	1996	1996	NUM
cjfa-10416	600	7	)	)	PUNCT
cjfa-10416	600	8	.	.	PUNCT
cjfa-10416	601	1	mark	mark	PROPN
cjfa-10416	601	2	-	-	PUNCT
cjfa-10416	601	3	up	up	ADP
cjfa-10416	601	4	pricing	pricing	NOUN
cjfa-10416	601	5	in	in	ADP
cjfa-10416	601	6	mergers	merger	NOUN
cjfa-10416	601	7	&	&	CCONJ
cjfa-10416	601	8	acquisitions	acquisition	NOUN
cjfa-10416	601	9	.	.	PUNCT
cjfa-10416	602	1	national	national	ADJ
cjfa-10416	602	2	bureau	bureau	PROPN
cjfa-10416	602	3	of	of	ADP
cjfa-10416	602	4	economic	economic	ADJ
cjfa-10416	602	5	research	research	NOUN
cjfa-10416	602	6	,	,	PUNCT
cjfa-10416	602	7	nber	nber	PROPN
cjfa-10416	602	8	working	working	PROPN
cjfa-10416	602	9	paper	paper	PROPN
cjfa-10416	602	10	series	series	NOUN
cjfa-10416	602	11	.	.	PUNCT
cjfa-10416	603	1	schwert	schwert	PROPN
cjfa-10416	603	2	,	,	PUNCT
cjfa-10416	603	3	william	william	PROPN
cjfa-10416	603	4	g.	g.	PROPN
cjfa-10416	603	5	(	(	PUNCT
cjfa-10416	603	6	2000	2000	NUM
cjfa-10416	603	7	)	)	PUNCT
cjfa-10416	603	8	.	.	PUNCT
cjfa-10416	604	1	hostility	hostility	NOUN
cjfa-10416	604	2	in	in	ADP
cjfa-10416	604	3	takeovers	takeover	NOUN
cjfa-10416	604	4	:	:	PUNCT
cjfa-10416	604	5	in	in	ADP
cjfa-10416	604	6	the	the	DET
cjfa-10416	604	7	eyes	eye	NOUN
cjfa-10416	604	8	of	of	ADP
cjfa-10416	604	9	the	the	DET
cjfa-10416	604	10	beholder	beholder	NOUN
cjfa-10416	604	11	?	?	PUNCT
cjfa-10416	604	12	.	.	PUNCT
cjfa-10416	605	1	the	the	DET
cjfa-10416	605	2	journal	journal	NOUN
cjfa-10416	605	3	of	of	ADP
cjfa-10416	605	4	finance	finance	NOUN
cjfa-10416	605	5	,	,	PUNCT
cjfa-10416	605	6	vol	vol	NOUN
cjfa-10416	605	7	.	.	PUNCT
cjfa-10416	605	8	vi	vi	PROPN
cjfa-10416	605	9	,	,	PUNCT
cjfa-10416	605	10	no	no	INTJ
cjfa-10416	605	11	.	.	NOUN
cjfa-10416	605	12	6	6	NUM
cjfa-10416	605	13	,	,	PUNCT
cjfa-10416	605	14	2599	2599	NUM
cjfa-10416	605	15	-	-	SYM
cjfa-10416	605	16	2640	2640	NUM
cjfa-10416	605	17	.	.	PUNCT
cjfa-10416	606	1	http://dx.doi.org/10.1111/00221082.00301	http://dx.doi.org/10.1111/00221082.00301	PROPN
cjfa-10416	606	2	.	.	PUNCT
cjfa-10416	607	1	sharpe	sharpe	PROPN
cjfa-10416	607	2	,	,	PUNCT
cjfa-10416	607	3	william	william	PROPN
cjfa-10416	607	4	f.	f.	PROPN
cjfa-10416	607	5	(	(	PUNCT
cjfa-10416	607	6	1964	1964	NUM
cjfa-10416	607	7	)	)	PUNCT
cjfa-10416	607	8	.	.	PUNCT
cjfa-10416	608	1	capital	capital	NOUN
cjfa-10416	608	2	asset	asset	NOUN
cjfa-10416	608	3	prices	price	NOUN
cjfa-10416	608	4	:	:	PUNCT
cjfa-10416	608	5	a	a	DET
cjfa-10416	608	6	theory	theory	NOUN
cjfa-10416	608	7	of	of	ADP
cjfa-10416	608	8	market	market	NOUN
cjfa-10416	608	9	equilibrium	equilibrium	NOUN
cjfa-10416	608	10	under	under	ADP
cjfa-10416	608	11	conditions	condition	NOUN
cjfa-10416	608	12	of	of	ADP
cjfa-10416	608	13	risk	risk	NOUN
cjfa-10416	608	14	.	.	PUNCT
cjfa-10416	609	1	the	the	DET
cjfa-10416	609	2	journal	journal	NOUN
cjfa-10416	609	3	of	of	ADP
cjfa-10416	609	4	finance	finance	NOUN
cjfa-10416	609	5	,	,	PUNCT
cjfa-10416	609	6	vol	vol	NOUN
cjfa-10416	609	7	.	.	PUNCT
cjfa-10416	610	1	xix	xix	PROPN
cjfa-10416	610	2	,	,	PUNCT
cjfa-10416	610	3	425	425	NUM
cjfa-10416	610	4	-	-	SYM
cjfa-10416	610	5	442	442	NUM
cjfa-10416	610	6	.	.	PUNCT
cjfa-10416	611	1	http://dx.doi	http://dx.doi	NOUN
cjfa-10416	611	2	.	.	PUNCT
cjfa-10416	612	1	org/10.1111	org/10.1111	PROPN
cjfa-10416	612	2	/	/	SYM
cjfa-10416	612	3	j.1540	j.1540	PROPN
cjfa-10416	612	4	-	-	PUNCT
cjfa-10416	612	5	6261.1964.tb02865.x	6261.1964.tb02865.x	PROPN
cjfa-10416	612	6	.	.	PUNCT
cjfa-10416	613	1	smadja	smadja	PROPN
cjfa-10416	613	2	,	,	PUNCT
cjfa-10416	613	3	c.	c.	PROPN
cjfa-10416	613	4	(	(	PUNCT
cjfa-10416	613	5	2008	2008	NUM
cjfa-10416	613	6	)	)	PUNCT
cjfa-10416	613	7	.	.	PUNCT
cjfa-10416	614	1	hostile	hostile	ADJ
cjfa-10416	614	2	takeovers	takeover	NOUN
cjfa-10416	614	3	and	and	CCONJ
cjfa-10416	614	4	directors	director	NOUN
cjfa-10416	614	5	’	'	PUNCT
cjfa-10416	614	6	duties	duty	NOUN
cjfa-10416	614	7	:	:	PUNCT
cjfa-10416	614	8	from	from	ADP
cjfa-10416	614	9	delaware	delaware	PROPN
cjfa-10416	614	10	to	to	ADP
cjfa-10416	614	11	brussels	brussels	PROPN
cjfa-10416	614	12	,	,	PUNCT
cjfa-10416	614	13	what	what	PRON
cjfa-10416	614	14	’s	’	VERB
cjfa-10416	614	15	best	good	ADJ
cjfa-10416	614	16	for	for	ADP
cjfa-10416	614	17	shareholders	shareholder	NOUN
cjfa-10416	614	18	?	?	PUNCT
cjfa-10416	614	19	,	,	PUNCT
cjfa-10416	614	20	master	master	NOUN
cjfa-10416	614	21	’s	’s	PART
cjfa-10416	614	22	thesis	thesis	NOUN
cjfa-10416	614	23	,	,	PUNCT
cjfa-10416	614	24	mcgill	mcgill	PROPN
cjfa-10416	614	25	university	university	PROPN
cjfa-10416	614	26	,	,	PUNCT
cjfa-10416	614	27	montreal	montreal	PROPN
cjfa-10416	614	28	.	.	PUNCT
cjfa-10416	615	1	steinbächer	steinbächer	PROPN
cjfa-10416	615	2	,	,	PUNCT
cjfa-10416	615	3	j.	j.	PROPN
cjfa-10416	615	4	(	(	PUNCT
cjfa-10416	615	5	2007	2007	NUM
cjfa-10416	615	6	)	)	PUNCT
cjfa-10416	615	7	.	.	PUNCT
cjfa-10416	616	1	defense	defense	NOUN
cjfa-10416	616	2	strategies	strategy	NOUN
cjfa-10416	616	3	against	against	ADP
cjfa-10416	616	4	hostile	hostile	ADJ
cjfa-10416	616	5	takeovers	takeover	NOUN
cjfa-10416	616	6	,	,	PUNCT
cjfa-10416	616	7	bachelor	bachelor	NOUN
cjfa-10416	616	8	thesis	thesis	NOUN
cjfa-10416	616	9	,	,	PUNCT
cjfa-10416	616	10	norderstedt	norderstedt	PROPN
cjfa-10416	616	11	germany	germany	PROPN
cjfa-10416	616	12	,	,	PUNCT
cjfa-10416	616	13	grin	grin	PROPN
cjfa-10416	616	14	verlag	verlag	PROPN
cjfa-10416	616	15	.	.	PUNCT
cjfa-10416	617	1	strategic	strategic	ADJ
cjfa-10416	617	2	management	management	NOUN
cjfa-10416	617	3	insight	insight	NOUN
cjfa-10416	617	4	,	,	PUNCT
cjfa-10416	617	5	“	"	PUNCT
cjfa-10416	617	6	horizontal	horizontal	ADJ
cjfa-10416	617	7	integration	integration	NOUN
cjfa-10416	617	8	&	&	CCONJ
cjfa-10416	617	9	vertical	vertical	ADJ
cjfa-10416	617	10	integration	integration	NOUN
cjfa-10416	617	11	”	"	PUNCT
cjfa-10416	617	12	.	.	PUNCT
cjfa-10416	618	1	http	http	ADJ
cjfa-10416	618	2	:	:	PUNCT
cjfa-10416	618	3	//www.strategicmanagementinsight.com	//www.strategicmanagementinsight.com	SYM
cjfa-10416	618	4	/	/	SYM
cjfa-10416	618	5	topics	topic	NOUN
cjfa-10416	618	6	/	/	SYM
cjfa-10416	618	7	horizontal	horizontal	NOUN
cjfa-10416	618	8	-	-	PUNCT
cjfa-10416	618	9	integration.html	integration.html	NOUN
cjfa-10416	618	10	and	and	CCONJ
cjfa-10416	618	11	http://	http://	PROPN
cjfa-10416	618	12	www.strategicmanagementinsight.com/topics/vertical-integration.html	www.strategicmanagementinsight.com/topics/vertical-integration.html	PROPN
cjfa-10416	618	13	(	(	PUNCT
cjfa-10416	618	14	accessed	access	VERB
cjfa-10416	618	15	:	:	PUNCT
cjfa-10416	618	16	29.05.2014	29.05.2014	NUM
cjfa-10416	618	17	)	)	PUNCT
cjfa-10416	618	18	.	.	PUNCT
cjfa-10416	619	1	weston	weston	PROPN
cjfa-10416	619	2	,	,	PUNCT
cjfa-10416	619	3	j.	j.	PROPN
cjfa-10416	619	4	f.	f.	PROPN
cjfa-10416	619	5	,	,	PUNCT
cjfa-10416	619	6	mitchell	mitchell	PROPN
cjfa-10416	619	7	,	,	PUNCT
cjfa-10416	619	8	m.	m.	PROPN
cjfa-10416	619	9	l.	l.	PROPN
cjfa-10416	619	10	,	,	PUNCT
cjfa-10416	619	11	&	&	CCONJ
cjfa-10416	619	12	mulherin	mulherin	PROPN
cjfa-10416	619	13	,	,	PUNCT
cjfa-10416	619	14	j.	j.	PROPN
cjfa-10416	619	15	h.	h.	PROPN
cjfa-10416	619	16	(	(	PUNCT
cjfa-10416	619	17	2004	2004	NUM
cjfa-10416	619	18	)	)	PUNCT
cjfa-10416	619	19	.	.	PUNCT
cjfa-10416	620	1	takeover	takeover	NOUN
cjfa-10416	620	2	,	,	PUNCT
cjfa-10416	620	3	restructuring	restructuring	NOUN
cjfa-10416	620	4	,	,	PUNCT
cjfa-10416	620	5	and	and	CCONJ
cjfa-10416	620	6	corporate	corporate	ADJ
cjfa-10416	620	7	governance	governance	NOUN
cjfa-10416	620	8	,	,	PUNCT
cjfa-10416	620	9	4th	4th	ADJ
cjfa-10416	620	10	edition	edition	NOUN
cjfa-10416	620	11	,	,	PUNCT
cjfa-10416	620	12	new	new	PROPN
cjfa-10416	620	13	jersey	jersey	PROPN
cjfa-10416	620	14	,	,	PUNCT
cjfa-10416	620	15	usa	usa	PROPN
cjfa-10416	620	16	:	:	PUNCT
cjfa-10416	620	17	pearson	pearson	PROPN
cjfa-10416	620	18	prentice	prentice	PROPN
cjfa-10416	620	19	hall	hall	PROPN
cjfa-10416	620	20	.	.	PUNCT
cjfa-10416	621	1	zarin	zarin	PROPN
cjfa-10416	621	2	,	,	PUNCT
cjfa-10416	621	3	s.	s.	PROPN
cjfa-10416	621	4	,	,	PUNCT
cjfa-10416	621	5	&	&	CCONJ
cjfa-10416	621	6	yang	yang	PROPN
cjfa-10416	621	7	,	,	PUNCT
cjfa-10416	621	8	e.	e.	PROPN
cjfa-10416	621	9	(	(	PUNCT
cjfa-10416	621	10	2005	2005	NUM
cjfa-10416	621	11	)	)	PUNCT
cjfa-10416	621	12	.	.	PUNCT
cjfa-10416	622	1	mergers	merger	NOUN
cjfa-10416	622	2	&	&	CCONJ
cjfa-10416	622	3	acquisitions	acquisition	NOUN
cjfa-10416	622	4	:	:	PUNCT
cjfa-10416	622	5	hostile	hostile	ADJ
cjfa-10416	622	6	takeovers	takeover	NOUN
cjfa-10416	622	7	and	and	CCONJ
cjfa-10416	622	8	defense	defense	NOUN
cjfa-10416	622	9	strategies	strategy	NOUN
cjfa-10416	622	10	against	against	ADP
cjfa-10416	622	11	them	they	PRON
cjfa-10416	622	12	,	,	PUNCT
cjfa-10416	622	13	bachelor	bachelor	NOUN
cjfa-10416	622	14	thesis	thesis	NOUN
cjfa-10416	622	15	,	,	PUNCT
cjfa-10416	622	16	university	university	NOUN
cjfa-10416	622	17	of	of	ADP
cjfa-10416	622	18	gothenburg	gothenburg	PROPN
cjfa-10416	622	19	,	,	PUNCT
cjfa-10416	622	20	sweden	sweden	PROPN
cjfa-10416	622	21	.	.	PUNCT