id	sid	tid	token	lemma	pos
cjfa-33345	1	1	date	date	NOUN
cjfa-33345	1	2	of	of	ADP
cjfa-33345	1	3	submission	submission	NOUN
cjfa-33345	1	4	:	:	PUNCT
cjfa-33345	1	5	august	august	PROPN
cjfa-33345	1	6	3	3	NUM
cjfa-33345	1	7	,	,	PUNCT
cjfa-33345	1	8	2020	2020	NUM
cjfa-33345	1	9	;	;	PUNCT
cjfa-33345	1	10	date	date	NOUN
cjfa-33345	1	11	of	of	ADP
cjfa-33345	1	12	acceptance	acceptance	NOUN
cjfa-33345	1	13	:	:	PUNCT
cjfa-33345	1	14	october	october	PROPN
cjfa-33345	1	15	4	4	NUM
cjfa-33345	1	16	,	,	PUNCT
cjfa-33345	1	17	2020	2020	NUM
cjfa-33345	1	18	.	.	PUNCT
cjfa-33345	2	1	*	*	PUNCT
cjfa-33345	2	2	contact	contact	NOUN
cjfa-33345	2	3	information	information	NOUN
cjfa-33345	2	4	:	:	PUNCT
cjfa-33345	2	5	neffati.emira@gmail.com	neffati.emira@gmail.com	NUM
cjfa-33345	2	6	,	,	PUNCT
cjfa-33345	2	7	institut	institut	PROPN
cjfa-33345	2	8	supérieur	supérieur	PROPN
cjfa-33345	2	9	de	de	X
cjfa-33345	2	10	gestion	gestion	PROPN
cjfa-33345	2	11	,	,	PUNCT
cjfa-33345	2	12	2000	2000	NUM
cjfa-33345	2	13	,	,	PUNCT
cjfa-33345	2	14	le	le	X
cjfa-33345	2	15	bardo	bardo	PROPN
cjfa-33345	2	16	,	,	PUNCT
cjfa-33345	2	17	university	university	PROPN
cjfa-33345	2	18	of	of	ADP
cjfa-33345	2	19	tunis	tunis	PROPN
cjfa-33345	2	20	,	,	PUNCT
cjfa-33345	2	21	tunisia	tunisia	NOUN
cjfa-33345	2	22	,	,	PUNCT
cjfa-33345	2	23	phone	phone	NOUN
cjfa-33345	2	24	:	:	PUNCT
cjfa-33345	2	25	+216	+216	NUM
cjfa-33345	2	26	-	-	NOUN
cjfa-33345	2	27	29006858	29006858	NUM
cjfa-33345	2	28	;	;	PUNCT
cjfa-33345	2	29	orcid	orcid	NOUN
cjfa-33345	3	1	i	i	NOUN
cjfa-33345	3	2	d	d	PROPN
cjfa-33345	3	3	:	:	PUNCT
cjfa-33345	3	4	https://	https://	PROPN
cjfa-33345	3	5	orcid.org/0000-0002-3764-8447	orcid.org/0000-0002-3764-8447	NOUN
cjfa-33345	3	6	.	.	PUNCT
cjfa-33345	4	1	*	*	PUNCT
cjfa-33345	4	2	*	*	PUNCT
cjfa-33345	4	3	contact	contact	NOUN
cjfa-33345	4	4	information	information	NOUN
cjfa-33345	4	5	:	:	PUNCT
cjfa-33345	4	6	khiariwided@yahoo.fr	khiariwided@yahoo.fr	PROPN
cjfa-33345	4	7	,	,	PUNCT
cjfa-33345	4	8	institut	institut	PROPN
cjfa-33345	4	9	supérieur	supérieur	PROPN
cjfa-33345	4	10	de	de	X
cjfa-33345	4	11	gestion	gestion	PROPN
cjfa-33345	4	12	,	,	PUNCT
cjfa-33345	4	13	2000	2000	NUM
cjfa-33345	4	14	,	,	PUNCT
cjfa-33345	4	15	le	le	X
cjfa-33345	4	16	bardo	bardo	PROPN
cjfa-33345	4	17	,	,	PUNCT
cjfa-33345	4	18	university	university	PROPN
cjfa-33345	4	19	of	of	ADP
cjfa-33345	4	20	tunis	tunis	PROPN
cjfa-33345	4	21	,	,	PUNCT
cjfa-33345	4	22	tunisia	tunisia	NOUN
cjfa-33345	4	23	,	,	PUNCT
cjfa-33345	4	24	phone	phone	NOUN
cjfa-33345	4	25	:	:	PUNCT
cjfa-33345	4	26	+216	+216	PROPN
cjfa-33345	4	27	-	-	NOUN
cjfa-33345	4	28	98586639	98586639	NUM
cjfa-33345	4	29	;	;	PUNCT
cjfa-33345	4	30	orcid	orcid	PROPN
cjfa-33345	5	1	i	i	NOUN
cjfa-33345	5	2	d	d	NOUN
cjfa-33345	5	3	:	:	PUNCT
cjfa-33345	5	4	https://orcid	https://orcid	PROPN
cjfa-33345	5	5	.	.	PUNCT
cjfa-33345	5	6	org/0000	org/0000	NOUN
cjfa-33345	5	7	-	-	PUNCT
cjfa-33345	5	8	0001	0001	NUM
cjfa-33345	5	9	-	-	PUNCT
cjfa-33345	5	10	7248	7248	NUM
cjfa-33345	5	11	-	-	SYM
cjfa-33345	5	12	2780	2780	NUM
cjfa-33345	5	13	.	.	PUNCT
cjfa-33345	6	1	*	*	PUNCT
cjfa-33345	6	2	*	*	PUNCT
cjfa-33345	6	3	*	*	PUNCT
cjfa-33345	6	4	contact	contact	NOUN
cjfa-33345	6	5	information	information	NOUN
cjfa-33345	6	6	:	:	PUNCT
cjfa-33345	6	7	azhaar_lajmi@yahoo.fr	azhaar_lajmi@yahoo.fr	PROPN
cjfa-33345	6	8	,	,	PUNCT
cjfa-33345	6	9	institut	institut	PROPN
cjfa-33345	6	10	supérieur	supérieur	PROPN
cjfa-33345	6	11	de	de	X
cjfa-33345	6	12	gestion	gestion	PROPN
cjfa-33345	6	13	,	,	PUNCT
cjfa-33345	6	14	2000	2000	NUM
cjfa-33345	6	15	,	,	PUNCT
cjfa-33345	6	16	le	le	X
cjfa-33345	6	17	bardo	bardo	PROPN
cjfa-33345	6	18	,	,	PUNCT
cjfa-33345	6	19	university	university	PROPN
cjfa-33345	6	20	of	of	ADP
cjfa-33345	6	21	tunis	tunis	PROPN
cjfa-33345	6	22	,	,	PUNCT
cjfa-33345	6	23	tunisia	tunisia	NOUN
cjfa-33345	6	24	,	,	PUNCT
cjfa-33345	6	25	phone	phone	NOUN
cjfa-33345	6	26	:	:	PUNCT
cjfa-33345	6	27	+216	+216	NUM
cjfa-33345	6	28	-	-	SYM
cjfa-33345	6	29	53958536	53958536	NUM
cjfa-33345	6	30	;	;	PUNCT
cjfa-33345	6	31	orcid	orcid	NOUN
cjfa-33345	7	1	i	i	NOUN
cjfa-33345	7	2	d	d	NOUN
cjfa-33345	7	3	:	:	PUNCT
cjfa-33345	7	4	https://orcid	https://orcid	PROPN
cjfa-33345	7	5	.	.	PUNCT
cjfa-33345	7	6	org/0000	org/0000	NOUN
cjfa-33345	7	7	-	-	PUNCT
cjfa-33345	7	8	0002	0002	NUM
cjfa-33345	7	9	-	-	PUNCT
cjfa-33345	7	10	7841	7841	NUM
cjfa-33345	7	11	-	-	SYM
cjfa-33345	7	12	8402	8402	NUM
cjfa-33345	7	13	.	.	PUNCT
cjfa-33345	8	1	copernican	copernican	PROPN
cjfa-33345	8	2	journal	journal	PROPN
cjfa-33345	8	3	of	of	ADP
cjfa-33345	8	4	finance	finance	PROPN
cjfa-33345	8	5	&	&	CCONJ
cjfa-33345	8	6	accounting	accounting	PROPN
cjfa-33345	8	7	e	e	PROPN
cjfa-33345	8	8	-	-	PROPN
cjfa-33345	8	9	issn	issn	PROPN
cjfa-33345	8	10	2300	2300	NUM
cjfa-33345	8	11	-	-	SYM
cjfa-33345	8	12	3065	3065	NUM
cjfa-33345	8	13	p	p	PROPN
cjfa-33345	8	14	-	-	PUNCT
cjfa-33345	8	15	issn	issn	PROPN
cjfa-33345	8	16	2300	2300	NUM
cjfa-33345	8	17	-	-	SYM
cjfa-33345	8	18	12402020	12402020	NUM
cjfa-33345	8	19	,	,	PUNCT
cjfa-33345	8	20	volume	volume	NOUN
cjfa-33345	8	21	9	9	NUM
cjfa-33345	8	22	,	,	PUNCT
cjfa-33345	8	23	issue	issue	VERB
cjfa-33345	8	24	3	3	NUM
cjfa-33345	8	25	neffati	neffati	NOUN
cjfa-33345	8	26	,	,	PUNCT
cjfa-33345	8	27	a.	a.	PROPN
cjfa-33345	8	28	,	,	PUNCT
cjfa-33345	8	29	khiari	khiari	PROPN
cjfa-33345	8	30	,	,	PUNCT
cjfa-33345	8	31	w.	w.	PROPN
cjfa-33345	8	32	,	,	PUNCT
cjfa-33345	8	33	&	&	CCONJ
cjfa-33345	8	34	lajmi	lajmi	PROPN
cjfa-33345	8	35	,	,	PUNCT
cjfa-33345	8	36	a.	a.	NOUN
cjfa-33345	8	37	(	(	PUNCT
cjfa-33345	8	38	2020	2020	NUM
cjfa-33345	8	39	)	)	PUNCT
cjfa-33345	8	40	.	.	PUNCT
cjfa-33345	9	1	corporate	corporate	ADJ
cjfa-33345	9	2	governance	governance	NOUN
cjfa-33345	9	3	and	and	CCONJ
cjfa-33345	9	4	post	post	ADJ
cjfa-33345	9	5	-	-	ADJ
cjfa-33345	9	6	merger	merger	ADJ
cjfa-33345	9	7	performance	performance	NOUN
cjfa-33345	9	8	:	:	PUNCT
cjfa-33345	9	9	evidence	evidence	NOUN
cjfa-33345	9	10	from	from	ADP
cjfa-33345	9	11	us	us	PROPN
cjfa-33345	9	12	banks	bank	NOUN
cjfa-33345	9	13	.	.	PUNCT
cjfa-33345	10	1	copernican	copernican	PROPN
cjfa-33345	10	2	journal	journal	PROPN
cjfa-33345	10	3	of	of	ADP
cjfa-33345	10	4	finance	finance	PROPN
cjfa-33345	10	5	&	&	CCONJ
cjfa-33345	10	6	accounting	accounting	PROPN
cjfa-33345	10	7	,	,	PUNCT
cjfa-33345	10	8	9(3	9(3	NUM
cjfa-33345	10	9	)	)	PUNCT
cjfa-33345	10	10	,	,	PUNCT
cjfa-33345	10	11	99–113	99–113	PROPN
cjfa-33345	10	12	.	.	PUNCT
cjfa-33345	11	1	http://dx.doi	http://dx.doi	NOUN
cjfa-33345	11	2	.	.	PUNCT
cjfa-33345	12	1	org/10.12775	org/10.12775	PROPN
cjfa-33345	12	2	/	/	SYM
cjfa-33345	12	3	cjfa.2020.014	cjfa.2020.014	PROPN
cjfa-33345	12	4	amira	amira	PROPN
cjfa-33345	12	5	neffati	neffati	PROPN
cjfa-33345	12	6	*	*	PROPN
cjfa-33345	12	7	gef-2a	gef-2a	PROPN
cjfa-33345	12	8	laboratory	laboratory	NOUN
cjfa-33345	13	1	,	,	PUNCT
cjfa-33345	13	2	university	university	NOUN
cjfa-33345	13	3	of	of	ADP
cjfa-33345	13	4	tunis	tunis	PROPN
cjfa-33345	13	5	wided	wide	VERB
cjfa-33345	13	6	khiari	khiari	PROPN
cjfa-33345	13	7	*	*	PROPN
cjfa-33345	13	8	*	*	PROPN
cjfa-33345	13	9	gef-2a	gef-2a	PROPN
cjfa-33345	13	10	laboratory	laboratory	NOUN
cjfa-33345	13	11	,	,	PUNCT
cjfa-33345	13	12	university	university	NOUN
cjfa-33345	13	13	of	of	ADP
cjfa-33345	13	14	tunis	tunis	PROPN
cjfa-33345	13	15	azhaar	azhaar	NOUN
cjfa-33345	13	16	lajmi	lajmi	PROPN
cjfa-33345	13	17	*	*	PUNCT
cjfa-33345	13	18	*	*	PROPN
cjfa-33345	13	19	*	*	PUNCT
cjfa-33345	13	20	gef-2a	gef-2a	ADJ
cjfa-33345	13	21	laboratory	laboratory	NOUN
cjfa-33345	13	22	,	,	PUNCT
cjfa-33345	13	23	university	university	NOUN
cjfa-33345	13	24	of	of	ADP
cjfa-33345	13	25	tunis	tunis	VERB
cjfa-33345	13	26	corporate	corporate	ADJ
cjfa-33345	13	27	governance	governance	NOUN
cjfa-33345	13	28	and	and	CCONJ
cjfa-33345	13	29	post	post	ADJ
cjfa-33345	13	30	-	-	ADJ
cjfa-33345	13	31	merger	merger	ADJ
cjfa-33345	13	32	performance	performance	NOUN
cjfa-33345	13	33	:	:	PUNCT
cjfa-33345	13	34	evidence	evidence	NOUN
cjfa-33345	13	35	from	from	ADP
cjfa-33345	13	36	us	we	PRON
cjfa-33345	13	37	banks	bank	NOUN
cjfa-33345	13	38	keywords	keyword	NOUN
cjfa-33345	13	39	:	:	PUNCT
cjfa-33345	13	40	bank	bank	NOUN
cjfa-33345	13	41	mergers	merger	NOUN
cjfa-33345	13	42	,	,	PUNCT
cjfa-33345	13	43	governance	governance	NOUN
cjfa-33345	13	44	,	,	PUNCT
cjfa-33345	13	45	bank	bank	NOUN
cjfa-33345	13	46	performance	performance	NOUN
cjfa-33345	13	47	,	,	PUNCT
cjfa-33345	13	48	deficit	deficit	NOUN
cjfa-33345	13	49	ratio	ratio	NOUN
cjfa-33345	13	50	.	.	PUNCT
cjfa-33345	14	1	j	j	PROPN
cjfa-33345	14	2	e	e	PROPN
cjfa-33345	14	3	l	l	PROPN
cjfa-33345	14	4	classification	classification	NOUN
cjfa-33345	14	5	:	:	PUNCT
cjfa-33345	14	6	g32	g32	NOUN
cjfa-33345	14	7	,	,	PUNCT
cjfa-33345	14	8	g34	g34	NOUN
cjfa-33345	14	9	,	,	PUNCT
cjfa-33345	14	10	g21	g21	PROPN
cjfa-33345	14	11	.	.	PUNCT
cjfa-33345	15	1	abstract	abstract	ADJ
cjfa-33345	15	2	:	:	PUNCT
cjfa-33345	16	1	mergers	merger	NOUN
cjfa-33345	16	2	operations	operation	NOUN
cjfa-33345	16	3	has	have	AUX
cjfa-33345	16	4	currently	currently	ADV
cjfa-33345	16	5	become	become	VERB
cjfa-33345	16	6	one	one	NUM
cjfa-33345	16	7	of	of	ADP
cjfa-33345	16	8	the	the	DET
cjfa-33345	16	9	key	key	ADJ
cjfa-33345	16	10	strategies	strategy	NOUN
cjfa-33345	16	11	for	for	ADP
cjfa-33345	16	12	many	many	ADJ
cjfa-33345	16	13	firms	firm	NOUN
cjfa-33345	16	14	.	.	PUNCT
cjfa-33345	17	1	it	it	PRON
cjfa-33345	17	2	becomes	become	VERB
cjfa-33345	17	3	a	a	DET
cjfa-33345	17	4	tool	tool	NOUN
cjfa-33345	17	5	to	to	PART
cjfa-33345	17	6	increase	increase	VERB
cjfa-33345	17	7	firm	firm	ADJ
cjfa-33345	17	8	value	value	NOUN
cjfa-33345	17	9	when	when	SCONJ
cjfa-33345	17	10	firm	firm	NOUN
cjfa-33345	17	11	has	have	AUX
cjfa-33345	17	12	reached	reach	VERB
cjfa-33345	17	13	its	its	PRON
cjfa-33345	17	14	peak	peak	NOUN
cjfa-33345	17	15	performance	performance	NOUN
cjfa-33345	17	16	.	.	PUNCT
cjfa-33345	18	1	this	this	DET
cjfa-33345	18	2	critical	critical	ADJ
cjfa-33345	18	3	decision	decision	NOUN
cjfa-33345	18	4	expects	expect	VERB
cjfa-33345	18	5	business	business	NOUN
cjfa-33345	18	6	performance	performance	NOUN
cjfa-33345	18	7	to	to	PART
cjfa-33345	18	8	improve	improve	VERB
cjfa-33345	18	9	.	.	PUNCT
cjfa-33345	19	1	amira	amira	PROPN
cjfa-33345	19	2	neffati	neffati	PROPN
cjfa-33345	19	3	,	,	PUNCT
cjfa-33345	19	4	wided	wide	VERB
cjfa-33345	19	5	khiari	khiari	PROPN
cjfa-33345	19	6	,	,	PUNCT
cjfa-33345	19	7	azhaar	azhaar	PROPN
cjfa-33345	19	8	lajmi100	lajmi100	PROPN
cjfa-33345	19	9	the	the	DET
cjfa-33345	19	10	main	main	ADJ
cjfa-33345	19	11	purpose	purpose	NOUN
cjfa-33345	19	12	of	of	ADP
cjfa-33345	19	13	this	this	DET
cjfa-33345	19	14	study	study	NOUN
cjfa-33345	19	15	is	be	AUX
cjfa-33345	19	16	to	to	PART
cjfa-33345	19	17	analyze	analyze	VERB
cjfa-33345	19	18	the	the	DET
cjfa-33345	19	19	impact	impact	NOUN
cjfa-33345	19	20	of	of	ADP
cjfa-33345	19	21	various	various	ADJ
cjfa-33345	19	22	governance	governance	NOUN
cjfa-33345	19	23	variables	variable	NOUN
cjfa-33345	19	24	,	,	PUNCT
cjfa-33345	19	25	like	like	ADP
cjfa-33345	19	26	managerial	managerial	ADJ
cjfa-33345	19	27	ownership	ownership	NOUN
cjfa-33345	19	28	,	,	PUNCT
cjfa-33345	19	29	the	the	DET
cjfa-33345	19	30	percentage	percentage	NOUN
cjfa-33345	19	31	of	of	ADP
cjfa-33345	19	32	shares	share	NOUN
cjfa-33345	19	33	held	hold	VERB
cjfa-33345	19	34	by	by	ADP
cjfa-33345	19	35	outside	outside	ADJ
cjfa-33345	19	36	directors	director	NOUN
cjfa-33345	19	37	,	,	PUNCT
cjfa-33345	19	38	the	the	DET
cjfa-33345	19	39	board	board	NOUN
cjfa-33345	19	40	size	size	NOUN
cjfa-33345	19	41	,	,	PUNCT
cjfa-33345	19	42	the	the	DET
cjfa-33345	19	43	audit	audit	NOUN
cjfa-33345	19	44	committee	committee	NOUN
cjfa-33345	19	45	size	size	NOUN
cjfa-33345	19	46	and	and	CCONJ
cjfa-33345	19	47	the	the	DET
cjfa-33345	19	48	percentage	percentage	NOUN
cjfa-33345	19	49	of	of	ADP
cjfa-33345	19	50	stock	stock	NOUN
cjfa-33345	19	51	options	option	NOUN
cjfa-33345	19	52	granted	grant	VERB
cjfa-33345	19	53	to	to	ADP
cjfa-33345	19	54	managers	manager	NOUN
cjfa-33345	19	55	,	,	PUNCT
cjfa-33345	19	56	on	on	ADP
cjfa-33345	19	57	post	post	NOUN
cjfa-33345	19	58	merger	merger	NOUN
cjfa-33345	19	59	banks	bank	NOUN
cjfa-33345	19	60	performance	performance	NOUN
cjfa-33345	19	61	and	and	CCONJ
cjfa-33345	19	62	to	to	PART
cjfa-33345	19	63	investigate	investigate	VERB
cjfa-33345	19	64	how	how	SCONJ
cjfa-33345	19	65	the	the	DET
cjfa-33345	19	66	firm	firm	ADJ
cjfa-33345	19	67	size	size	NOUN
cjfa-33345	19	68	can	can	AUX
cjfa-33345	19	69	influence	influence	VERB
cjfa-33345	19	70	bank	bank	NOUN
cjfa-33345	19	71	performance	performance	NOUN
cjfa-33345	19	72	following	follow	VERB
cjfa-33345	19	73	mergers	merger	NOUN
cjfa-33345	19	74	operations	operation	NOUN
cjfa-33345	19	75	.	.	PUNCT
cjfa-33345	20	1	it	it	PRON
cjfa-33345	20	2	also	also	ADV
cjfa-33345	20	3	tends	tend	VERB
cjfa-33345	20	4	to	to	PART
cjfa-33345	20	5	test	test	VERB
cjfa-33345	20	6	the	the	DET
cjfa-33345	20	7	existence	existence	NOUN
cjfa-33345	20	8	of	of	ADP
cjfa-33345	20	9	the	the	DET
cjfa-33345	20	10	phenomenon	phenomenon	NOUN
cjfa-33345	20	11	of	of	ADP
cjfa-33345	20	12	empire	empire	NOUN
cjfa-33345	20	13	building	building	NOUN
cjfa-33345	20	14	which	which	PRON
cjfa-33345	20	15	is	be	AUX
cjfa-33345	20	16	defined	define	VERB
cjfa-33345	20	17	as	as	ADP
cjfa-33345	20	18	a	a	DET
cjfa-33345	20	19	primary	primary	ADJ
cjfa-33345	20	20	motivation	motivation	NOUN
cjfa-33345	20	21	for	for	ADP
cjfa-33345	20	22	mergers	merger	NOUN
cjfa-33345	20	23	operations	operation	NOUN
cjfa-33345	20	24	.	.	PUNCT
cjfa-33345	21	1	empirical	empirical	ADJ
cjfa-33345	21	2	analysis	analysis	NOUN
cjfa-33345	21	3	is	be	AUX
cjfa-33345	21	4	based	base	VERB
cjfa-33345	21	5	on	on	ADP
cjfa-33345	21	6	a	a	DET
cjfa-33345	21	7	panel	panel	NOUN
cjfa-33345	21	8	data	datum	NOUN
cjfa-33345	21	9	model	model	NOUN
cjfa-33345	21	10	applied	apply	VERB
cjfa-33345	21	11	to	to	ADP
cjfa-33345	21	12	a	a	DET
cjfa-33345	21	13	sample	sample	NOUN
cjfa-33345	21	14	of	of	ADP
cjfa-33345	21	15	54	54	NUM
cjfa-33345	21	16	banks	bank	NOUN
cjfa-33345	21	17	come	come	VERB
cjfa-33345	21	18	from	from	ADP
cjfa-33345	21	19	the	the	DET
cjfa-33345	21	20	list	list	NOUN
cjfa-33345	21	21	of	of	ADP
cjfa-33345	21	22	u.s	u.s	PROPN
cjfa-33345	21	23	.	.	PROPN
cjfa-33345	21	24	bank	bank	NOUN
cjfa-33345	21	25	mergers	merger	NOUN
cjfa-33345	21	26	over	over	ADP
cjfa-33345	21	27	a	a	DET
cjfa-33345	21	28	period	period	NOUN
cjfa-33345	21	29	of	of	ADP
cjfa-33345	21	30	6	6	NUM
cjfa-33345	21	31	years	year	NOUN
cjfa-33345	21	32	from	from	ADP
cjfa-33345	21	33	2009	2009	NUM
cjfa-33345	21	34	to	to	ADP
cjfa-33345	21	35	2015	2015	NUM
cjfa-33345	21	36	.	.	PUNCT
cjfa-33345	22	1	our	our	PRON
cjfa-33345	22	2	results	result	NOUN
cjfa-33345	22	3	show	show	VERB
cjfa-33345	22	4	that	that	SCONJ
cjfa-33345	22	5	the	the	DET
cjfa-33345	22	6	increase	increase	NOUN
cjfa-33345	22	7	in	in	ADP
cjfa-33345	22	8	managerial	managerial	ADJ
cjfa-33345	22	9	ownership	ownership	NOUN
cjfa-33345	22	10	decreases	decrease	VERB
cjfa-33345	22	11	the	the	DET
cjfa-33345	22	12	value	value	NOUN
cjfa-33345	22	13	of	of	ADP
cjfa-33345	22	14	the	the	DET
cjfa-33345	22	15	deficit	deficit	NOUN
cjfa-33345	22	16	,	,	PUNCT
cjfa-33345	22	17	therefore	therefore	ADV
cjfa-33345	22	18	,	,	PUNCT
cjfa-33345	22	19	improves	improve	VERB
cjfa-33345	22	20	the	the	DET
cjfa-33345	22	21	bank	bank	NOUN
cjfa-33345	22	22	performance	performance	NOUN
cjfa-33345	22	23	following	follow	VERB
cjfa-33345	22	24	mergers	merger	NOUN
cjfa-33345	22	25	operations	operation	NOUN
cjfa-33345	22	26	.	.	PUNCT
cjfa-33345	23	1	the	the	DET
cjfa-33345	23	2	introduction	introduction	NOUN
cjfa-33345	23	3	of	of	ADP
cjfa-33345	23	4	firm	firm	ADJ
cjfa-33345	23	5	size	size	NOUN
cjfa-33345	23	6	shows	show	VERB
cjfa-33345	23	7	that	that	SCONJ
cjfa-33345	23	8	this	this	DET
cjfa-33345	23	9	variable	variable	NOUN
cjfa-33345	23	10	is	be	AUX
cjfa-33345	23	11	positively	positively	ADV
cjfa-33345	23	12	correlated	correlate	VERB
cjfa-33345	23	13	with	with	ADP
cjfa-33345	23	14	the	the	DET
cjfa-33345	23	15	value	value	NOUN
cjfa-33345	23	16	of	of	ADP
cjfa-33345	23	17	the	the	DET
cjfa-33345	23	18	deficit	deficit	NOUN
cjfa-33345	23	19	that	that	PRON
cjfa-33345	23	20	is	be	AUX
cjfa-33345	23	21	used	use	VERB
cjfa-33345	23	22	as	as	ADP
cjfa-33345	23	23	a	a	DET
cjfa-33345	23	24	performance	performance	NOUN
cjfa-33345	23	25	measure	measure	NOUN
cjfa-33345	23	26	in	in	ADP
cjfa-33345	23	27	this	this	DET
cjfa-33345	23	28	study	study	NOUN
cjfa-33345	23	29	.	.	PUNCT
cjfa-33345	24	1	our	our	PRON
cjfa-33345	24	2	results	result	NOUN
cjfa-33345	24	3	converge	converge	VERB
cjfa-33345	24	4	with	with	ADP
cjfa-33345	24	5	previous	previous	ADJ
cjfa-33345	24	6	studies	study	NOUN
cjfa-33345	24	7	that	that	PRON
cjfa-33345	24	8	show	show	VERB
cjfa-33345	24	9	an	an	DET
cjfa-33345	24	10	improvement	improvement	NOUN
cjfa-33345	24	11	in	in	ADP
cjfa-33345	24	12	the	the	DET
cjfa-33345	24	13	performance	performance	NOUN
cjfa-33345	24	14	following	follow	VERB
cjfa-33345	24	15	bank	bank	NOUN
cjfa-33345	24	16	mergers	merger	NOUN
cjfa-33345	24	17	.	.	PUNCT
cjfa-33345	24	18	 	 	SPACE
cjfa-33345	25	1	introduction	introduction	NOUN
cjfa-33345	25	2	the	the	DET
cjfa-33345	25	3	shareholders	shareholder	NOUN
cjfa-33345	25	4	who	who	PRON
cjfa-33345	25	5	are	be	AUX
cjfa-33345	25	6	potentially	potentially	ADV
cjfa-33345	25	7	harmed	harm	VERB
cjfa-33345	25	8	by	by	ADP
cjfa-33345	25	9	the	the	DET
cjfa-33345	25	10	development	development	NOUN
cjfa-33345	25	11	of	of	ADP
cjfa-33345	25	12	the	the	DET
cjfa-33345	25	13	agency	agency	NOUN
cjfa-33345	25	14	theory	theory	NOUN
cjfa-33345	25	15	,	,	PUNCT
cjfa-33345	25	16	have	have	AUX
cjfa-33345	25	17	established	establish	VERB
cjfa-33345	25	18	a	a	DET
cjfa-33345	25	19	set	set	NOUN
cjfa-33345	25	20	of	of	ADP
cjfa-33345	25	21	control	control	NOUN
cjfa-33345	25	22	mechanisms	mechanism	NOUN
cjfa-33345	25	23	allowing	allow	VERB
cjfa-33345	25	24	leaders	leader	NOUN
cjfa-33345	25	25	to	to	PART
cjfa-33345	25	26	discipline	discipline	VERB
cjfa-33345	25	27	and	and	CCONJ
cjfa-33345	25	28	limit	limit	VERB
cjfa-33345	25	29	the	the	DET
cjfa-33345	25	30	extent	extent	NOUN
cjfa-33345	25	31	of	of	ADP
cjfa-33345	25	32	their	their	PRON
cjfa-33345	25	33	authority	authority	NOUN
cjfa-33345	25	34	so	so	SCONJ
cjfa-33345	25	35	they	they	PRON
cjfa-33345	25	36	can	can	AUX
cjfa-33345	25	37	manage	manage	VERB
cjfa-33345	25	38	the	the	DET
cjfa-33345	25	39	firm	firm	NOUN
cjfa-33345	25	40	based	base	VERB
cjfa-33345	25	41	on	on	ADP
cjfa-33345	25	42	their	their	PRON
cjfa-33345	25	43	goals	goal	NOUN
cjfa-33345	25	44	.	.	PUNCT
cjfa-33345	26	1	this	this	DET
cjfa-33345	26	2	set	set	NOUN
cjfa-33345	26	3	of	of	ADP
cjfa-33345	26	4	mechanisms	mechanism	NOUN
cjfa-33345	26	5	is	be	AUX
cjfa-33345	26	6	included	include	VERB
cjfa-33345	26	7	under	under	ADP
cjfa-33345	26	8	the	the	DET
cjfa-33345	26	9	term	term	NOUN
cjfa-33345	26	10	of	of	ADP
cjfa-33345	26	11	the	the	DET
cjfa-33345	26	12	theory	theory	NOUN
cjfa-33345	26	13	of	of	ADP
cjfa-33345	26	14	corporate	corporate	ADJ
cjfa-33345	26	15	governance	governance	NOUN
cjfa-33345	26	16	and	and	CCONJ
cjfa-33345	26	17	is	be	AUX
cjfa-33345	26	18	known	know	VERB
cjfa-33345	26	19	since	since	SCONJ
cjfa-33345	26	20	the	the	DET
cjfa-33345	26	21	90	90	NUM
cjfa-33345	26	22	’s	’s	NOUN
cjfa-33345	26	23	continuous	continuous	ADJ
cjfa-33345	26	24	development	development	NOUN
cjfa-33345	26	25	.	.	PUNCT
cjfa-33345	27	1	according	accord	VERB
cjfa-33345	27	2	to	to	ADP
cjfa-33345	27	3	shleifer	shleifer	NOUN
cjfa-33345	27	4	and	and	CCONJ
cjfa-33345	27	5	vishney	vishney	NOUN
cjfa-33345	27	6	(	(	PUNCT
cjfa-33345	27	7	1997	1997	NUM
cjfa-33345	27	8	)	)	PUNCT
cjfa-33345	27	9	,	,	PUNCT
cjfa-33345	27	10	this	this	DET
cjfa-33345	27	11	theory	theory	NOUN
cjfa-33345	27	12	is	be	AUX
cjfa-33345	27	13	the	the	DET
cjfa-33345	27	14	means	mean	NOUN
cjfa-33345	27	15	by	by	ADP
cjfa-33345	27	16	which	which	PRON
cjfa-33345	27	17	the	the	DET
cjfa-33345	27	18	fund	fund	NOUN
cjfa-33345	27	19	providers	provider	NOUN
cjfa-33345	27	20	ensure	ensure	VERB
cjfa-33345	27	21	a	a	DET
cjfa-33345	27	22	sufficient	sufficient	ADJ
cjfa-33345	27	23	return	return	NOUN
cjfa-33345	27	24	on	on	ADP
cjfa-33345	27	25	their	their	PRON
cjfa-33345	27	26	investments	investment	NOUN
cjfa-33345	27	27	.	.	PUNCT
cjfa-33345	28	1	thus	thus	ADV
cjfa-33345	28	2	,	,	PUNCT
cjfa-33345	28	3	corporate	corporate	ADJ
cjfa-33345	28	4	governance	governance	NOUN
cjfa-33345	28	5	aims	aim	VERB
cjfa-33345	28	6	to	to	PART
cjfa-33345	28	7	define	define	VERB
cjfa-33345	28	8	the	the	DET
cjfa-33345	28	9	powers	power	NOUN
cjfa-33345	28	10	that	that	PRON
cjfa-33345	28	11	influences	influence	VERB
cjfa-33345	28	12	the	the	DET
cjfa-33345	28	13	decisions	decision	NOUN
cjfa-33345	28	14	of	of	ADP
cjfa-33345	28	15	leaders	leader	NOUN
cjfa-33345	28	16	and	and	CCONJ
cjfa-33345	28	17	govern	govern	VERB
cjfa-33345	28	18	their	their	PRON
cjfa-33345	28	19	behavior	behavior	NOUN
cjfa-33345	28	20	.	.	PUNCT
cjfa-33345	29	1	it	it	PRON
cjfa-33345	29	2	is	be	AUX
cjfa-33345	29	3	in	in	ADP
cjfa-33345	29	4	this	this	DET
cjfa-33345	29	5	sense	sense	NOUN
cjfa-33345	29	6	that	that	SCONJ
cjfa-33345	29	7	jensen	jensen	PROPN
cjfa-33345	29	8	and	and	CCONJ
cjfa-33345	29	9	meckling	meckling	NOUN
cjfa-33345	29	10	(	(	PUNCT
cjfa-33345	29	11	1976	1976	NUM
cjfa-33345	29	12	)	)	PUNCT
cjfa-33345	29	13	and	and	CCONJ
cjfa-33345	29	14	more	more	ADV
cjfa-33345	29	15	recently	recently	ADV
cjfa-33345	29	16	attari	attari	PROPN
cjfa-33345	29	17	and	and	CCONJ
cjfa-33345	29	18	banerjee	banerjee	PROPN
cjfa-33345	29	19	(	(	PUNCT
cjfa-33345	29	20	2000	2000	NUM
cjfa-33345	29	21	)	)	PUNCT
cjfa-33345	29	22	showed	show	VERB
cjfa-33345	29	23	that	that	SCONJ
cjfa-33345	29	24	property	property	NOUN
cjfa-33345	29	25	managers	manager	NOUN
cjfa-33345	29	26	can	can	AUX
cjfa-33345	29	27	align	align	VERB
cjfa-33345	29	28	their	their	PRON
cjfa-33345	29	29	interests	interest	NOUN
cjfa-33345	29	30	with	with	ADP
cjfa-33345	29	31	those	those	PRON
cjfa-33345	29	32	of	of	ADP
cjfa-33345	29	33	shareholders	shareholder	NOUN
cjfa-33345	29	34	.	.	PUNCT
cjfa-33345	30	1	finally	finally	ADV
cjfa-33345	30	2	,	,	PUNCT
cjfa-33345	30	3	and	and	CCONJ
cjfa-33345	30	4	in	in	ADP
cjfa-33345	30	5	order	order	NOUN
cjfa-33345	30	6	to	to	PART
cjfa-33345	30	7	maximize	maximize	VERB
cjfa-33345	30	8	the	the	DET
cjfa-33345	30	9	firm	firm	ADJ
cjfa-33345	30	10	value	value	NOUN
cjfa-33345	30	11	,	,	PUNCT
cjfa-33345	30	12	jensen	jensen	PROPN
cjfa-33345	30	13	and	and	CCONJ
cjfa-33345	30	14	murphy	murphy	PROPN
cjfa-33345	30	15	(	(	PUNCT
cjfa-33345	30	16	1990	1990	NUM
cjfa-33345	30	17	)	)	PUNCT
cjfa-33345	30	18	proposed	propose	VERB
cjfa-33345	30	19	to	to	PART
cjfa-33345	30	20	use	use	VERB
cjfa-33345	30	21	the	the	DET
cjfa-33345	30	22	compensation	compensation	NOUN
cjfa-33345	30	23	related	relate	VERB
cjfa-33345	30	24	to	to	ADP
cjfa-33345	30	25	the	the	DET
cjfa-33345	30	26	value	value	NOUN
cjfa-33345	30	27	of	of	ADP
cjfa-33345	30	28	the	the	DET
cjfa-33345	30	29	firm	firm	NOUN
cjfa-33345	30	30	to	to	PART
cjfa-33345	30	31	ensure	ensure	VERB
cjfa-33345	30	32	the	the	DET
cjfa-33345	30	33	alignment	alignment	NOUN
cjfa-33345	30	34	of	of	ADP
cjfa-33345	30	35	interests	interest	NOUN
cjfa-33345	30	36	of	of	ADP
cjfa-33345	30	37	managers	manager	NOUN
cjfa-33345	30	38	with	with	ADP
cjfa-33345	30	39	those	those	PRON
cjfa-33345	30	40	of	of	ADP
cjfa-33345	30	41	shareholders	shareholder	NOUN
cjfa-33345	30	42	.	.	PUNCT
cjfa-33345	31	1	in	in	ADP
cjfa-33345	31	2	this	this	DET
cjfa-33345	31	3	context	context	NOUN
cjfa-33345	31	4	,	,	PUNCT
cjfa-33345	31	5	the	the	DET
cjfa-33345	31	6	impact	impact	NOUN
cjfa-33345	31	7	of	of	ADP
cjfa-33345	31	8	governance	governance	NOUN
cjfa-33345	31	9	variables	variable	NOUN
cjfa-33345	31	10	on	on	ADP
cjfa-33345	31	11	bank	bank	NOUN
cjfa-33345	31	12	performance	performance	NOUN
cjfa-33345	31	13	following	follow	VERB
cjfa-33345	31	14	mergers	merger	NOUN
cjfa-33345	31	15	operations	operation	NOUN
cjfa-33345	31	16	has	have	AUX
cjfa-33345	31	17	been	be	AUX
cjfa-33345	31	18	widely	widely	ADV
cjfa-33345	31	19	investigated	investigate	VERB
cjfa-33345	31	20	in	in	ADP
cjfa-33345	31	21	financial	financial	ADJ
cjfa-33345	31	22	literature	literature	NOUN
cjfa-33345	31	23	.	.	PUNCT
cjfa-33345	32	1	we	we	PRON
cjfa-33345	32	2	first	first	ADV
cjfa-33345	32	3	address	address	VERB
cjfa-33345	32	4	the	the	DET
cjfa-33345	32	5	relationship	relationship	NOUN
cjfa-33345	32	6	between	between	ADP
cjfa-33345	32	7	managerial	managerial	ADJ
cjfa-33345	32	8	ownership	ownership	NOUN
cjfa-33345	32	9	and	and	CCONJ
cjfa-33345	32	10	bank	bank	NOUN
cjfa-33345	32	11	performance	performance	NOUN
cjfa-33345	32	12	.	.	PUNCT
cjfa-33345	33	1	in	in	ADP
cjfa-33345	33	2	fact	fact	NOUN
cjfa-33345	33	3	,	,	PUNCT
cjfa-33345	33	4	the	the	DET
cjfa-33345	33	5	accelerated	accelerated	ADJ
cjfa-33345	33	6	number	number	NOUN
cjfa-33345	33	7	of	of	ADP
cjfa-33345	33	8	bank	bank	NOUN
cjfa-33345	33	9	mergers	merger	NOUN
cjfa-33345	33	10	in	in	ADP
cjfa-33345	33	11	the	the	DET
cjfa-33345	33	12	world	world	NOUN
cjfa-33345	33	13	and	and	CCONJ
cjfa-33345	33	14	the	the	DET
cjfa-33345	33	15	increasing	increase	VERB
cjfa-33345	33	16	importance	importance	NOUN
cjfa-33345	33	17	given	give	VERB
cjfa-33345	33	18	to	to	ADP
cjfa-33345	33	19	the	the	DET
cjfa-33345	33	20	relationship	relationship	NOUN
cjfa-33345	33	21	between	between	ADP
cjfa-33345	33	22	agency	agency	NOUN
cjfa-33345	33	23	problems	problem	NOUN
cjfa-33345	33	24	and	and	CCONJ
cjfa-33345	33	25	possibilities	possibility	NOUN
cjfa-33345	33	26	of	of	ADP
cjfa-33345	33	27	success	success	NOUN
cjfa-33345	33	28	of	of	ADP
cjfa-33345	33	29	these	these	DET
cjfa-33345	33	30	operations	operation	NOUN
cjfa-33345	33	31	,	,	PUNCT
cjfa-33345	33	32	have	have	AUX
cjfa-33345	33	33	attracted	attract	VERB
cjfa-33345	33	34	the	the	DET
cjfa-33345	33	35	attention	attention	NOUN
cjfa-33345	33	36	of	of	ADP
cjfa-33345	33	37	several	several	ADJ
cjfa-33345	33	38	researchers	researcher	NOUN
cjfa-33345	33	39	.	.	PUNCT
cjfa-33345	34	1	their	their	PRON
cjfa-33345	34	2	studies	study	NOUN
cjfa-33345	34	3	have	have	AUX
cjfa-33345	34	4	been	be	AUX
cjfa-33345	34	5	conducted	conduct	VERB
cjfa-33345	34	6	to	to	PART
cjfa-33345	34	7	assess	assess	VERB
cjfa-33345	34	8	the	the	DET
cjfa-33345	34	9	relationship	relationship	NOUN
cjfa-33345	34	10	between	between	ADP
cjfa-33345	34	11	managerial	managerial	ADJ
cjfa-33345	34	12	ownership	ownership	NOUN
cjfa-33345	34	13	and	and	CCONJ
cjfa-33345	34	14	bank	bank	NOUN
cjfa-33345	34	15	performance	performance	NOUN
cjfa-33345	34	16	more	more	ADV
cjfa-33345	34	17	precisely	precisely	ADV
cjfa-33345	34	18	be	be	AUX
cjfa-33345	34	19	corporate	corporate	ADJ
cjfa-33345	34	20	governance	governance	NOUN
cjfa-33345	34	21	and	and	CCONJ
cjfa-33345	34	22	post	post	ADJ
cjfa-33345	34	23	-	-	ADJ
cjfa-33345	34	24	merger	merger	ADJ
cjfa-33345	34	25	performance	performance	NOUN
cjfa-33345	34	26	…	…	PUNCT
cjfa-33345	34	27	101	101	NUM
cjfa-33345	34	28	tween	tween	NOUN
cjfa-33345	34	29	the	the	DET
cjfa-33345	34	30	ownership	ownership	NOUN
cjfa-33345	34	31	of	of	ADP
cjfa-33345	34	32	internal	internal	ADJ
cjfa-33345	34	33	operations	operation	NOUN
cjfa-33345	34	34	and	and	CCONJ
cjfa-33345	34	35	the	the	DET
cjfa-33345	34	36	effect	effect	NOUN
cjfa-33345	34	37	of	of	ADP
cjfa-33345	34	38	takeover	takeover	NOUN
cjfa-33345	34	39	on	on	ADP
cjfa-33345	34	40	the	the	DET
cjfa-33345	34	41	bank	bank	NOUN
cjfa-33345	34	42	performance	performance	NOUN
cjfa-33345	34	43	.	.	PUNCT
cjfa-33345	35	1	the	the	DET
cjfa-33345	35	2	findings	finding	NOUN
cjfa-33345	35	3	on	on	ADP
cjfa-33345	35	4	this	this	DET
cjfa-33345	35	5	subject	subject	NOUN
cjfa-33345	35	6	are	be	AUX
cjfa-33345	35	7	many	many	ADJ
cjfa-33345	35	8	and	and	CCONJ
cjfa-33345	35	9	vary	vary	VERB
cjfa-33345	35	10	according	accord	VERB
cjfa-33345	35	11	to	to	ADP
cjfa-33345	35	12	the	the	DET
cjfa-33345	35	13	type	type	NOUN
cjfa-33345	35	14	of	of	ADP
cjfa-33345	35	15	performance	performance	NOUN
cjfa-33345	35	16	measures	measure	NOUN
cjfa-33345	35	17	used	use	VERB
cjfa-33345	35	18	,	,	PUNCT
cjfa-33345	35	19	for	for	ADP
cjfa-33345	35	20	instance	instance	NOUN
cjfa-33345	35	21	,	,	PUNCT
cjfa-33345	35	22	accounting	accounting	NOUN
cjfa-33345	35	23	or	or	CCONJ
cjfa-33345	35	24	market	market	NOUN
cjfa-33345	35	25	measures	measure	NOUN
cjfa-33345	35	26	,	,	PUNCT
cjfa-33345	35	27	and	and	CCONJ
cjfa-33345	35	28	it	it	PRON
cjfa-33345	35	29	is	be	AUX
cjfa-33345	35	30	still	still	ADV
cjfa-33345	35	31	difficult	difficult	ADJ
cjfa-33345	35	32	to	to	PART
cjfa-33345	35	33	demonstrate	demonstrate	VERB
cjfa-33345	35	34	an	an	DET
cjfa-33345	35	35	improvement	improvement	NOUN
cjfa-33345	35	36	in	in	ADP
cjfa-33345	35	37	bank	bank	NOUN
cjfa-33345	35	38	profitability	profitability	NOUN
cjfa-33345	35	39	following	follow	VERB
cjfa-33345	35	40	mergers	merger	NOUN
cjfa-33345	35	41	operations	operation	NOUN
cjfa-33345	35	42	.	.	PUNCT
cjfa-33345	36	1	according	accord	VERB
cjfa-33345	36	2	to	to	ADP
cjfa-33345	36	3	the	the	DET
cjfa-33345	36	4	several	several	ADJ
cjfa-33345	36	5	empirical	empirical	ADJ
cjfa-33345	36	6	studies	study	NOUN
cjfa-33345	36	7	,	,	PUNCT
cjfa-33345	36	8	experts	expert	NOUN
cjfa-33345	36	9	and	and	CCONJ
cjfa-33345	36	10	researchers	researcher	NOUN
cjfa-33345	36	11	are	be	AUX
cjfa-33345	36	12	all	all	ADV
cjfa-33345	36	13	in	in	ADP
cjfa-33345	36	14	agreement	agreement	NOUN
cjfa-33345	36	15	that	that	SCONJ
cjfa-33345	36	16	mergers	merger	NOUN
cjfa-33345	36	17	and	and	CCONJ
cjfa-33345	36	18	acquisitions	acquisition	NOUN
cjfa-33345	36	19	can	can	AUX
cjfa-33345	36	20	only	only	ADV
cjfa-33345	36	21	lead	lead	VERB
cjfa-33345	36	22	to	to	ADP
cjfa-33345	36	23	a	a	DET
cjfa-33345	36	24	very	very	ADV
cjfa-33345	36	25	modest	modest	ADJ
cjfa-33345	36	26	improvements	improvement	NOUN
cjfa-33345	36	27	in	in	ADP
cjfa-33345	36	28	the	the	DET
cjfa-33345	36	29	efficiency	efficiency	NOUN
cjfa-33345	36	30	of	of	ADP
cjfa-33345	36	31	firms	firm	NOUN
cjfa-33345	36	32	.	.	PUNCT
cjfa-33345	37	1	based	base	VERB
cjfa-33345	37	2	on	on	ADP
cjfa-33345	37	3	these	these	DET
cjfa-33345	37	4	studies	study	NOUN
cjfa-33345	37	5	,	,	PUNCT
cjfa-33345	37	6	we	we	PRON
cjfa-33345	37	7	note	note	VERB
cjfa-33345	37	8	that	that	SCONJ
cjfa-33345	37	9	mergers	merger	NOUN
cjfa-33345	37	10	rarely	rarely	ADV
cjfa-33345	37	11	lead	lead	VERB
cjfa-33345	37	12	to	to	PART
cjfa-33345	37	13	improve	improve	VERB
cjfa-33345	37	14	the	the	DET
cjfa-33345	37	15	firm	firm	ADJ
cjfa-33345	37	16	performance	performance	NOUN
cjfa-33345	37	17	.	.	PUNCT
cjfa-33345	38	1	statistics	statistic	NOUN
cjfa-33345	38	2	show	show	VERB
cjfa-33345	38	3	that	that	SCONJ
cjfa-33345	38	4	only	only	ADV
cjfa-33345	38	5	15	15	NUM
cjfa-33345	38	6	%	%	NOUN
cjfa-33345	38	7	to	to	PART
cjfa-33345	38	8	20	20	NUM
cjfa-33345	38	9	%	%	NOUN
cjfa-33345	38	10	of	of	ADP
cjfa-33345	38	11	u.s	u.s	PROPN
cjfa-33345	38	12	.	.	PROPN
cjfa-33345	38	13	mergers	merger	NOUN
cjfa-33345	38	14	can	can	AUX
cjfa-33345	38	15	be	be	AUX
cjfa-33345	38	16	qualified	qualified	ADJ
cjfa-33345	38	17	as	as	ADP
cjfa-33345	38	18	successful	successful	ADJ
cjfa-33345	38	19	.	.	PUNCT
cjfa-33345	39	1	several	several	ADJ
cjfa-33345	39	2	researchers	researcher	NOUN
cjfa-33345	39	3	have	have	AUX
cjfa-33345	39	4	studied	study	VERB
cjfa-33345	39	5	the	the	DET
cjfa-33345	39	6	relationship	relationship	NOUN
cjfa-33345	39	7	between	between	ADP
cjfa-33345	39	8	the	the	DET
cjfa-33345	39	9	outsiders	outsider	NOUN
cjfa-33345	39	10	,	,	PUNCT
cjfa-33345	39	11	the	the	DET
cjfa-33345	39	12	board	board	NOUN
cjfa-33345	39	13	size	size	NOUN
cjfa-33345	39	14	and	and	CCONJ
cjfa-33345	39	15	performance	performance	NOUN
cjfa-33345	39	16	.	.	PUNCT
cjfa-33345	40	1	these	these	DET
cjfa-33345	40	2	studies	study	NOUN
cjfa-33345	40	3	have	have	AUX
cjfa-33345	40	4	shown	show	VERB
cjfa-33345	40	5	a	a	DET
cjfa-33345	40	6	positive	positive	ADJ
cjfa-33345	40	7	relationship	relationship	NOUN
cjfa-33345	40	8	between	between	ADP
cjfa-33345	40	9	the	the	DET
cjfa-33345	40	10	director	director	NOUN
cjfa-33345	40	11	independence	independence	NOUN
cjfa-33345	40	12	,	,	PUNCT
cjfa-33345	40	13	the	the	DET
cjfa-33345	40	14	small	small	ADJ
cjfa-33345	40	15	size	size	NOUN
cjfa-33345	40	16	of	of	ADP
cjfa-33345	40	17	the	the	DET
cjfa-33345	40	18	board	board	NOUN
cjfa-33345	40	19	and	and	CCONJ
cjfa-33345	40	20	the	the	DET
cjfa-33345	40	21	effective	effective	ADJ
cjfa-33345	40	22	control	control	NOUN
cjfa-33345	40	23	of	of	ADP
cjfa-33345	40	24	the	the	DET
cjfa-33345	40	25	board	board	NOUN
cjfa-33345	40	26	(	(	PUNCT
cjfa-33345	40	27	peasnell	peasnell	PROPN
cjfa-33345	40	28	,	,	PUNCT
cjfa-33345	40	29	pope	pope	PROPN
cjfa-33345	40	30	&	&	CCONJ
cjfa-33345	40	31	young	young	ADJ
cjfa-33345	40	32	,	,	PUNCT
cjfa-33345	40	33	1998	1998	NUM
cjfa-33345	40	34	)	)	PUNCT
cjfa-33345	40	35	.	.	PUNCT
cjfa-33345	41	1	for	for	ADP
cjfa-33345	41	2	their	their	PRON
cjfa-33345	41	3	part	part	NOUN
cjfa-33345	41	4	,	,	PUNCT
cjfa-33345	41	5	the	the	DET
cjfa-33345	41	6	study	study	NOUN
cjfa-33345	41	7	of	of	ADP
cjfa-33345	41	8	brickley	brickley	ADJ
cjfa-33345	41	9	,	,	PUNCT
cjfa-33345	41	10	coles	cole	NOUN
cjfa-33345	41	11	and	and	CCONJ
cjfa-33345	41	12	terry	terry	PROPN
cjfa-33345	41	13	(	(	PUNCT
cjfa-33345	41	14	1994	1994	NUM
cjfa-33345	41	15	)	)	PUNCT
cjfa-33345	41	16	found	find	VERB
cjfa-33345	41	17	significant	significant	ADJ
cjfa-33345	41	18	high	high	ADJ
cjfa-33345	41	19	yields	yield	NOUN
cjfa-33345	41	20	at	at	ADP
cjfa-33345	41	21	the	the	DET
cjfa-33345	41	22	announcement	announcement	NOUN
cjfa-33345	41	23	of	of	ADP
cjfa-33345	41	24	a	a	DET
cjfa-33345	41	25	takeover	takeover	NOUN
cjfa-33345	41	26	in	in	ADP
cjfa-33345	41	27	case	case	NOUN
cjfa-33345	41	28	of	of	ADP
cjfa-33345	41	29	a	a	DET
cjfa-33345	41	30	small	small	ADJ
cjfa-33345	41	31	sized	sized	ADJ
cjfa-33345	41	32	board	board	NOUN
cjfa-33345	41	33	of	of	ADP
cjfa-33345	41	34	directors	director	NOUN
cjfa-33345	41	35	that	that	PRON
cjfa-33345	41	36	is	be	AUX
cjfa-33345	41	37	dominated	dominate	VERB
cjfa-33345	41	38	by	by	ADP
cjfa-33345	41	39	outside	outside	ADJ
cjfa-33345	41	40	directors	director	NOUN
cjfa-33345	41	41	.	.	PUNCT
cjfa-33345	42	1	peasnell	peasnell	PROPN
cjfa-33345	42	2	et	et	PROPN
cjfa-33345	42	3	al	al	PROPN
cjfa-33345	42	4	.	.	PUNCT
cjfa-33345	43	1	(	(	PUNCT
cjfa-33345	43	2	1998	1998	NUM
cjfa-33345	43	3	)	)	PUNCT
cjfa-33345	43	4	showed	show	VERB
cjfa-33345	43	5	that	that	SCONJ
cjfa-33345	43	6	the	the	DET
cjfa-33345	43	7	relationship	relationship	NOUN
cjfa-33345	43	8	between	between	ADP
cjfa-33345	43	9	managerial	managerial	ADJ
cjfa-33345	43	10	ownership	ownership	NOUN
cjfa-33345	43	11	and	and	CCONJ
cjfa-33345	43	12	the	the	DET
cjfa-33345	43	13	number	number	NOUN
cjfa-33345	43	14	of	of	ADP
cjfa-33345	43	15	outsiders	outsider	NOUN
cjfa-33345	43	16	in	in	ADP
cjfa-33345	43	17	the	the	DET
cjfa-33345	43	18	board	board	NOUN
cjfa-33345	43	19	of	of	ADP
cjfa-33345	43	20	directors	director	NOUN
cjfa-33345	43	21	is	be	AUX
cjfa-33345	43	22	a	a	DET
cjfa-33345	43	23	relationship	relationship	NOUN
cjfa-33345	43	24	that	that	PRON
cjfa-33345	43	25	takes	take	VERB
cjfa-33345	43	26	the	the	DET
cjfa-33345	43	27	form	form	NOUN
cjfa-33345	43	28	of	of	ADP
cjfa-33345	43	29	u.	u.	NOUN
cjfa-33345	43	30	this	this	DET
cjfa-33345	43	31	nonlinear	nonlinear	ADJ
cjfa-33345	43	32	relationship	relationship	NOUN
cjfa-33345	43	33	can	can	AUX
cjfa-33345	43	34	be	be	AUX
cjfa-33345	43	35	explained	explain	VERB
cjfa-33345	43	36	by	by	ADP
cjfa-33345	43	37	using	use	VERB
cjfa-33345	43	38	a	a	DET
cjfa-33345	43	39	combination	combination	NOUN
cjfa-33345	43	40	of	of	ADP
cjfa-33345	43	41	assumptions	assumption	NOUN
cjfa-33345	43	42	alignment	alignment	NOUN
cjfa-33345	43	43	of	of	ADP
cjfa-33345	43	44	interest	interest	NOUN
cjfa-33345	43	45	and	and	CCONJ
cjfa-33345	43	46	rooting	rooting	NOUN
cjfa-33345	43	47	.	.	PUNCT
cjfa-33345	44	1	according	accord	VERB
cjfa-33345	44	2	to	to	ADP
cjfa-33345	44	3	kartal	kartal	PROPN
cjfa-33345	44	4	,	,	PUNCT
cjfa-33345	44	5	ibis	ibis	NOUN
cjfa-33345	44	6	and	and	CCONJ
cjfa-33345	44	7	catikkas	catikkas	ADJ
cjfa-33345	44	8	(	(	PUNCT
cjfa-33345	44	9	2018	2018	NUM
cjfa-33345	44	10	)	)	PUNCT
cjfa-33345	44	11	,	,	PUNCT
cjfa-33345	44	12	the	the	DET
cjfa-33345	44	13	audit	audit	NOUN
cjfa-33345	44	14	committee	committee	NOUN
cjfa-33345	44	15	is	be	AUX
cjfa-33345	44	16	important	important	ADJ
cjfa-33345	44	17	in	in	ADP
cjfa-33345	44	18	terms	term	NOUN
cjfa-33345	44	19	of	of	ADP
cjfa-33345	44	20	performing	perform	VERB
cjfa-33345	44	21	efficiently	efficiently	ADV
cjfa-33345	44	22	and	and	CCONJ
cjfa-33345	44	23	effectively	effectively	ADV
cjfa-33345	44	24	,	,	PUNCT
cjfa-33345	44	25	protecting	protect	VERB
cjfa-33345	44	26	assets	asset	NOUN
cjfa-33345	44	27	,	,	PUNCT
cjfa-33345	44	28	supervisiong	supervisiong	VERB
cjfa-33345	44	29	the	the	DET
cjfa-33345	44	30	preparation	preparation	NOUN
cjfa-33345	44	31	of	of	ADP
cjfa-33345	44	32	the	the	DET
cjfa-33345	44	33	reliable	reliable	ADJ
cjfa-33345	44	34	financial	financial	ADJ
cjfa-33345	44	35	reporting	reporting	NOUN
cjfa-33345	44	36	of	of	ADP
cjfa-33345	44	37	banks	bank	NOUN
cjfa-33345	44	38	,	,	PUNCT
cjfa-33345	44	39	and	and	CCONJ
cjfa-33345	44	40	so	so	ADV
cjfa-33345	44	41	can	can	AUX
cjfa-33345	44	42	affect	affect	VERB
cjfa-33345	44	43	positively	positively	ADV
cjfa-33345	44	44	their	their	PRON
cjfa-33345	44	45	performance	performance	NOUN
cjfa-33345	44	46	.	.	PUNCT
cjfa-33345	45	1	a	a	DET
cjfa-33345	45	2	big	big	ADJ
cjfa-33345	45	3	enough	enough	ADJ
cjfa-33345	45	4	and	and	CCONJ
cjfa-33345	45	5	active	active	ADJ
cjfa-33345	45	6	audit	audit	NOUN
cjfa-33345	45	7	committee	committee	NOUN
cjfa-33345	45	8	can	can	AUX
cjfa-33345	45	9	positively	positively	ADV
cjfa-33345	45	10	influence	influence	VERB
cjfa-33345	45	11	the	the	DET
cjfa-33345	45	12	performance	performance	NOUN
cjfa-33345	45	13	and	and	CCONJ
cjfa-33345	45	14	increase	increase	VERB
cjfa-33345	45	15	the	the	DET
cjfa-33345	45	16	probability	probability	NOUN
cjfa-33345	45	17	of	of	ADP
cjfa-33345	45	18	neutralization	neutralization	NOUN
cjfa-33345	45	19	of	of	ADP
cjfa-33345	45	20	any	any	DET
cjfa-33345	45	21	attempt	attempt	NOUN
cjfa-33345	45	22	at	at	ADP
cjfa-33345	45	23	the	the	DET
cjfa-33345	45	24	management	management	NOUN
cjfa-33345	45	25	by	by	ADP
cjfa-33345	45	26	managers	manager	NOUN
cjfa-33345	45	27	and	and	CCONJ
cjfa-33345	45	28	reduce	reduce	VERB
cjfa-33345	45	29	probability	probability	NOUN
cjfa-33345	45	30	of	of	ADP
cjfa-33345	45	31	fraud	fraud	NOUN
cjfa-33345	45	32	.	.	PUNCT
cjfa-33345	46	1	in	in	ADP
cjfa-33345	46	2	this	this	DET
cjfa-33345	46	3	sens	sen	NOUN
cjfa-33345	46	4	,	,	PUNCT
cjfa-33345	46	5	agency	agency	NOUN
cjfa-33345	46	6	theory	theory	NOUN
cjfa-33345	46	7	suggests	suggest	VERB
cjfa-33345	46	8	that	that	SCONJ
cjfa-33345	46	9	well	well	ADV
cjfa-33345	46	10	-	-	PUNCT
cjfa-33345	46	11	governed	govern	VERB
cjfa-33345	46	12	firms	firm	NOUN
cjfa-33345	46	13	(	(	PUNCT
cjfa-33345	46	14	by	by	ADP
cjfa-33345	46	15	board	board	NOUN
cjfa-33345	46	16	of	of	ADP
cjfa-33345	46	17	directors	director	NOUN
cjfa-33345	46	18	,	,	PUNCT
cjfa-33345	46	19	audit	audit	NOUN
cjfa-33345	46	20	committee	committee	NOUN
cjfa-33345	46	21	)	)	PUNCT
cjfa-33345	46	22	perform	perform	VERB
cjfa-33345	46	23	relatively	relatively	ADV
cjfa-33345	46	24	better	well	ADJ
cjfa-33345	46	25	than	than	ADP
cjfa-33345	46	26	their	their	PRON
cjfa-33345	46	27	poorly	poorly	ADV
cjfa-33345	46	28	-	-	PUNCT
cjfa-33345	46	29	governed	govern	VERB
cjfa-33345	46	30	counterparts	counterpart	NOUN
cjfa-33345	46	31	(	(	PUNCT
cjfa-33345	46	32	zhou	zhou	PROPN
cjfa-33345	46	33	,	,	PUNCT
cjfa-33345	46	34	ansah	ansah	PROPN
cjfa-33345	46	35	&	&	CCONJ
cjfa-33345	46	36	maggina	maggina	PROPN
cjfa-33345	46	37	,	,	PUNCT
cjfa-33345	46	38	2018	2018	NUM
cjfa-33345	46	39	)	)	PUNCT
cjfa-33345	46	40	.	.	PUNCT
cjfa-33345	47	1	compensation	compensation	NOUN
cjfa-33345	47	2	plans	plan	NOUN
cjfa-33345	47	3	are	be	AUX
cjfa-33345	47	4	intended	intend	VERB
cjfa-33345	47	5	to	to	PART
cjfa-33345	47	6	align	align	VERB
cjfa-33345	47	7	the	the	DET
cjfa-33345	47	8	interests	interest	NOUN
cjfa-33345	47	9	of	of	ADP
cjfa-33345	47	10	managers	manager	NOUN
cjfa-33345	47	11	with	with	ADP
cjfa-33345	47	12	those	those	PRON
cjfa-33345	47	13	of	of	ADP
cjfa-33345	47	14	shareholders	shareholder	NOUN
cjfa-33345	47	15	.	.	PUNCT
cjfa-33345	48	1	benston	benston	NOUN
cjfa-33345	48	2	(	(	PUNCT
cjfa-33345	48	3	1985	1985	NUM
cjfa-33345	48	4	)	)	PUNCT
cjfa-33345	48	5	in	in	ADP
cjfa-33345	48	6	their	their	PRON
cjfa-33345	48	7	studies	study	NOUN
cjfa-33345	48	8	have	have	AUX
cjfa-33345	48	9	shown	show	VERB
cjfa-33345	48	10	that	that	SCONJ
cjfa-33345	48	11	the	the	DET
cjfa-33345	48	12	change	change	NOUN
cjfa-33345	48	13	in	in	ADP
cjfa-33345	48	14	the	the	DET
cjfa-33345	48	15	level	level	NOUN
cjfa-33345	48	16	of	of	ADP
cjfa-33345	48	17	compensation	compensation	NOUN
cjfa-33345	48	18	is	be	AUX
cjfa-33345	48	19	positively	positively	ADV
cjfa-33345	48	20	related	relate	VERB
cjfa-33345	48	21	to	to	ADP
cjfa-33345	48	22	the	the	DET
cjfa-33345	48	23	changes	change	NOUN
cjfa-33345	48	24	in	in	ADP
cjfa-33345	48	25	stock	stock	NOUN
cjfa-33345	48	26	prices	price	NOUN
cjfa-33345	48	27	.	.	PUNCT
cjfa-33345	49	1	despite	despite	SCONJ
cjfa-33345	49	2	the	the	DET
cjfa-33345	49	3	multitude	multitude	NOUN
cjfa-33345	49	4	of	of	ADP
cjfa-33345	49	5	research	research	NOUN
cjfa-33345	49	6	that	that	PRON
cjfa-33345	49	7	focused	focus	VERB
cjfa-33345	49	8	on	on	ADP
cjfa-33345	49	9	the	the	DET
cjfa-33345	49	10	relationship	relationship	NOUN
cjfa-33345	49	11	between	between	ADP
cjfa-33345	49	12	compensation	compensation	NOUN
cjfa-33345	49	13	and	and	CCONJ
cjfa-33345	49	14	managerial	managerial	ADJ
cjfa-33345	49	15	performance	performance	NOUN
cjfa-33345	49	16	,	,	PUNCT
cjfa-33345	49	17	only	only	ADV
cjfa-33345	49	18	few	few	ADJ
cjfa-33345	49	19	of	of	ADP
cjfa-33345	49	20	them	they	PRON
cjfa-33345	49	21	have	have	AUX
cjfa-33345	49	22	tried	try	VERB
cjfa-33345	49	23	to	to	PART
cjfa-33345	49	24	study	study	VERB
cjfa-33345	49	25	this	this	DET
cjfa-33345	49	26	relationship	relationship	NOUN
cjfa-33345	49	27	in	in	ADP
cjfa-33345	49	28	the	the	DET
cjfa-33345	49	29	context	context	NOUN
cjfa-33345	49	30	of	of	ADP
cjfa-33345	49	31	a	a	DET
cjfa-33345	49	32	takeover	takeover	NOUN
cjfa-33345	49	33	transaction	transaction	NOUN
cjfa-33345	49	34	,	,	PUNCT
cjfa-33345	49	35	especially	especially	ADV
cjfa-33345	49	36	mergers	merger	NOUN
cjfa-33345	49	37	.	.	PUNCT
cjfa-33345	50	1	the	the	DET
cjfa-33345	50	2	aim	aim	NOUN
cjfa-33345	50	3	of	of	ADP
cjfa-33345	50	4	this	this	DET
cjfa-33345	50	5	paper	paper	NOUN
cjfa-33345	50	6	is	be	AUX
cjfa-33345	50	7	twofold	twofold	ADJ
cjfa-33345	50	8	.	.	PUNCT
cjfa-33345	51	1	the	the	DET
cjfa-33345	51	2	first	first	ADJ
cjfa-33345	51	3	object	object	NOUN
cjfa-33345	51	4	is	be	AUX
cjfa-33345	51	5	to	to	PART
cjfa-33345	51	6	study	study	VERB
cjfa-33345	51	7	the	the	DET
cjfa-33345	51	8	impact	impact	NOUN
cjfa-33345	51	9	of	of	ADP
cjfa-33345	51	10	corporate	corporate	ADJ
cjfa-33345	51	11	governance	governance	NOUN
cjfa-33345	51	12	characteristics	characteristic	NOUN
cjfa-33345	51	13	,	,	PUNCT
cjfa-33345	51	14	like	like	ADP
cjfa-33345	51	15	managerial	managerial	ADJ
cjfa-33345	51	16	ownership	ownership	NOUN
cjfa-33345	51	17	,	,	PUNCT
cjfa-33345	51	18	the	the	DET
cjfa-33345	51	19	percentamira	percentamira	PROPN
cjfa-33345	51	20	neffati	neffati	PROPN
cjfa-33345	51	21	,	,	PUNCT
cjfa-33345	51	22	wided	wide	VERB
cjfa-33345	51	23	khiari	khiari	PROPN
cjfa-33345	51	24	,	,	PUNCT
cjfa-33345	51	25	azhaar	azhaar	NOUN
cjfa-33345	51	26	lajmi102	lajmi102	PROPN
cjfa-33345	51	27	age	age	NOUN
cjfa-33345	51	28	of	of	ADP
cjfa-33345	51	29	shares	share	NOUN
cjfa-33345	51	30	held	hold	VERB
cjfa-33345	51	31	by	by	ADP
cjfa-33345	51	32	outside	outside	ADJ
cjfa-33345	51	33	directors	director	NOUN
cjfa-33345	51	34	,	,	PUNCT
cjfa-33345	51	35	the	the	DET
cjfa-33345	51	36	board	board	NOUN
cjfa-33345	51	37	size	size	NOUN
cjfa-33345	51	38	,	,	PUNCT
cjfa-33345	51	39	the	the	DET
cjfa-33345	51	40	audit	audit	NOUN
cjfa-33345	51	41	committee	committee	NOUN
cjfa-33345	51	42	size	size	NOUN
cjfa-33345	51	43	and	and	CCONJ
cjfa-33345	51	44	the	the	DET
cjfa-33345	51	45	percentage	percentage	NOUN
cjfa-33345	51	46	of	of	ADP
cjfa-33345	51	47	stock	stock	NOUN
cjfa-33345	51	48	options	option	NOUN
cjfa-33345	51	49	granted	grant	VERB
cjfa-33345	51	50	to	to	ADP
cjfa-33345	51	51	managers	manager	NOUN
cjfa-33345	51	52	,	,	PUNCT
cjfa-33345	51	53	on	on	ADP
cjfa-33345	51	54	performance	performance	NOUN
cjfa-33345	51	55	due	due	ADP
cjfa-33345	51	56	to	to	ADP
cjfa-33345	51	57	bank	bank	NOUN
cjfa-33345	51	58	mergers	merger	NOUN
cjfa-33345	51	59	.	.	PUNCT
cjfa-33345	52	1	the	the	DET
cjfa-33345	52	2	second	second	ADJ
cjfa-33345	52	3	one	one	NOUN
cjfa-33345	52	4	is	be	AUX
cjfa-33345	52	5	to	to	PART
cjfa-33345	52	6	analyze	analyze	VERB
cjfa-33345	52	7	the	the	DET
cjfa-33345	52	8	relevance	relevance	NOUN
cjfa-33345	52	9	of	of	ADP
cjfa-33345	52	10	these	these	DET
cjfa-33345	52	11	variables	variable	NOUN
cjfa-33345	52	12	and	and	CCONJ
cjfa-33345	52	13	how	how	SCONJ
cjfa-33345	52	14	they	they	PRON
cjfa-33345	52	15	can	can	AUX
cjfa-33345	52	16	increase	increase	VERB
cjfa-33345	52	17	the	the	DET
cjfa-33345	52	18	firm	firm	NOUN
cjfa-33345	52	19	’s	’s	PART
cjfa-33345	52	20	value	value	NOUN
cjfa-33345	52	21	.	.	PUNCT
cjfa-33345	53	1	the	the	DET
cjfa-33345	53	2	rest	rest	NOUN
cjfa-33345	53	3	of	of	ADP
cjfa-33345	53	4	the	the	DET
cjfa-33345	53	5	paper	paper	NOUN
cjfa-33345	53	6	is	be	AUX
cjfa-33345	53	7	organized	organize	VERB
cjfa-33345	53	8	as	as	SCONJ
cjfa-33345	53	9	follows	follow	VERB
cjfa-33345	53	10	.	.	PUNCT
cjfa-33345	54	1	the	the	DET
cjfa-33345	54	2	first	first	ADJ
cjfa-33345	54	3	part	part	NOUN
cjfa-33345	54	4	provides	provide	VERB
cjfa-33345	54	5	an	an	DET
cjfa-33345	54	6	overview	overview	NOUN
cjfa-33345	54	7	of	of	ADP
cjfa-33345	54	8	mergers	merger	NOUN
cjfa-33345	54	9	operations	operation	NOUN
cjfa-33345	54	10	in	in	ADP
cjfa-33345	54	11	the	the	DET
cjfa-33345	54	12	u.s	u.s	PROPN
cjfa-33345	54	13	.	.	PROPN
cjfa-33345	54	14	banking	banking	NOUN
cjfa-33345	54	15	industry	industry	NOUN
cjfa-33345	54	16	in	in	ADP
cjfa-33345	54	17	the	the	DET
cjfa-33345	54	18	post-2000	post-2000	ADJ
cjfa-33345	54	19	period	period	NOUN
cjfa-33345	54	20	.	.	PUNCT
cjfa-33345	55	1	it	it	PRON
cjfa-33345	55	2	also	also	ADV
cjfa-33345	55	3	includes	include	VERB
cjfa-33345	55	4	a	a	DET
cjfa-33345	55	5	literature	literature	NOUN
cjfa-33345	55	6	review	review	NOUN
cjfa-33345	55	7	on	on	ADP
cjfa-33345	55	8	bank	bank	NOUN
cjfa-33345	55	9	mergers	merger	NOUN
cjfa-33345	55	10	.	.	PUNCT
cjfa-33345	56	1	the	the	DET
cjfa-33345	56	2	second	second	ADJ
cjfa-33345	56	3	part	part	NOUN
cjfa-33345	56	4	discusses	discuss	VERB
cjfa-33345	56	5	sample	sample	NOUN
cjfa-33345	56	6	selection	selection	NOUN
cjfa-33345	56	7	and	and	CCONJ
cjfa-33345	56	8	provides	provide	VERB
cjfa-33345	56	9	descriptive	descriptive	ADJ
cjfa-33345	56	10	statistics	statistic	NOUN
cjfa-33345	56	11	of	of	ADP
cjfa-33345	56	12	the	the	DET
cjfa-33345	56	13	sample	sample	NOUN
cjfa-33345	56	14	and	and	CCONJ
cjfa-33345	56	15	bank	bank	NOUN
cjfa-33345	56	16	performance	performance	NOUN
cjfa-33345	56	17	characteristics	characteristic	NOUN
cjfa-33345	56	18	.	.	PUNCT
cjfa-33345	57	1	overview	overview	NOUN
cjfa-33345	57	2	of	of	ADP
cjfa-33345	57	3	mergers	merger	NOUN
cjfa-33345	57	4	operations	operation	NOUN
cjfa-33345	57	5	in	in	ADP
cjfa-33345	57	6	the	the	DET
cjfa-33345	57	7	u.s	u.s	PROPN
cjfa-33345	57	8	.	.	PROPN
cjfa-33345	57	9	banking	banking	NOUN
cjfa-33345	57	10	industry	industry	NOUN
cjfa-33345	57	11	mergers	merger	NOUN
cjfa-33345	57	12	and	and	CCONJ
cjfa-33345	57	13	acquisitions	acquisition	NOUN
cjfa-33345	57	14	(	(	PUNCT
cjfa-33345	57	15	m&a	m&a	PROPN
cjfa-33345	57	16	)	)	PUNCT
cjfa-33345	57	17	has	have	AUX
cjfa-33345	57	18	always	always	ADV
cjfa-33345	57	19	been	be	AUX
cjfa-33345	57	20	an	an	DET
cjfa-33345	57	21	issue	issue	NOUN
cjfa-33345	57	22	for	for	ADP
cjfa-33345	57	23	managers	manager	NOUN
cjfa-33345	57	24	and	and	CCONJ
cjfa-33345	57	25	financial	financial	ADJ
cjfa-33345	57	26	analysis	analysis	NOUN
cjfa-33345	57	27	.	.	PUNCT
cjfa-33345	58	1	number	number	NOUN
cjfa-33345	58	2	of	of	ADP
cjfa-33345	58	3	studies	study	NOUN
cjfa-33345	58	4	have	have	AUX
cjfa-33345	58	5	been	be	AUX
cjfa-33345	58	6	conducted	conduct	VERB
cjfa-33345	58	7	in	in	ADP
cjfa-33345	58	8	order	order	NOUN
cjfa-33345	58	9	to	to	PART
cjfa-33345	58	10	address	address	VERB
cjfa-33345	58	11	the	the	DET
cjfa-33345	58	12	effects	effect	NOUN
cjfa-33345	58	13	of	of	ADP
cjfa-33345	58	14	m&a	m&a	PROPN
cjfa-33345	58	15	on	on	ADP
cjfa-33345	58	16	firm	firm	ADJ
cjfa-33345	58	17	performance	performance	NOUN
cjfa-33345	58	18	(	(	PUNCT
cjfa-33345	58	19	dutescu	dutescu	NOUN
cjfa-33345	58	20	,	,	PUNCT
cjfa-33345	58	21	ponorica	ponorica	PROPN
cjfa-33345	58	22	&	&	CCONJ
cjfa-33345	58	23	stanila	stanila	PROPN
cjfa-33345	58	24	,	,	PUNCT
cjfa-33345	58	25	2013	2013	NUM
cjfa-33345	58	26	)	)	PUNCT
cjfa-33345	58	27	.	.	PUNCT
cjfa-33345	59	1	most	most	ADJ
cjfa-33345	59	2	of	of	ADP
cjfa-33345	59	3	them	they	PRON
cjfa-33345	59	4	use	use	VERB
cjfa-33345	59	5	financial	financial	ADJ
cjfa-33345	59	6	variables	variable	NOUN
cjfa-33345	59	7	such	such	ADJ
cjfa-33345	59	8	as	as	ADP
cjfa-33345	59	9	return	return	NOUN
cjfa-33345	59	10	on	on	ADP
cjfa-33345	59	11	assets	asset	NOUN
cjfa-33345	59	12	,	,	PUNCT
cjfa-33345	59	13	return	return	VERB
cjfa-33345	59	14	on	on	ADP
cjfa-33345	59	15	capital	capital	NOUN
cjfa-33345	59	16	,	,	PUNCT
cjfa-33345	59	17	total	total	ADJ
cjfa-33345	59	18	assets	asset	NOUN
cjfa-33345	59	19	ratio	ratio	NOUN
cjfa-33345	59	20	,	,	PUNCT
cjfa-33345	59	21	return	return	VERB
cjfa-33345	59	22	on	on	ADP
cjfa-33345	59	23	net	net	ADJ
cjfa-33345	59	24	worth	worth	NOUN
cjfa-33345	59	25	,	,	PUNCT
cjfa-33345	59	26	operational	operational	ADJ
cjfa-33345	59	27	profit	profit	NOUN
cjfa-33345	59	28	margin	margin	NOUN
cjfa-33345	59	29	as	as	ADP
cjfa-33345	59	30	their	their	PRON
cjfa-33345	59	31	research	research	NOUN
cjfa-33345	59	32	variable	variable	NOUN
cjfa-33345	59	33	.	.	PUNCT
cjfa-33345	60	1	for	for	ADP
cjfa-33345	60	2	our	our	PRON
cjfa-33345	60	3	case	case	NOUN
cjfa-33345	60	4	,	,	PUNCT
cjfa-33345	60	5	we	we	PRON
cjfa-33345	60	6	propose	propose	VERB
cjfa-33345	60	7	a	a	DET
cjfa-33345	60	8	new	new	ADJ
cjfa-33345	60	9	financial	financial	ADJ
cjfa-33345	60	10	indicator	indicator	NOUN
cjfa-33345	60	11	that	that	PRON
cjfa-33345	60	12	allows	allow	VERB
cjfa-33345	60	13	us	we	PRON
cjfa-33345	60	14	to	to	PART
cjfa-33345	60	15	assess	assess	VERB
cjfa-33345	60	16	the	the	DET
cjfa-33345	60	17	effect	effect	NOUN
cjfa-33345	60	18	of	of	ADP
cjfa-33345	60	19	mergers	merger	NOUN
cjfa-33345	60	20	operations	operation	NOUN
cjfa-33345	60	21	on	on	ADP
cjfa-33345	60	22	firms	firm	NOUN
cjfa-33345	60	23	financial	financial	ADJ
cjfa-33345	60	24	performance	performance	NOUN
cjfa-33345	60	25	.	.	PUNCT
cjfa-33345	61	1	the	the	DET
cjfa-33345	61	2	number	number	NOUN
cjfa-33345	61	3	of	of	ADP
cjfa-33345	61	4	us	we	PRON
cjfa-33345	61	5	banks	bank	NOUN
cjfa-33345	61	6	has	have	AUX
cjfa-33345	61	7	decreased	decrease	VERB
cjfa-33345	61	8	from	from	ADP
cjfa-33345	61	9	around	around	ADP
cjfa-33345	61	10	14.500	14.500	NUM
cjfa-33345	61	11	in	in	ADP
cjfa-33345	61	12	the	the	DET
cjfa-33345	61	13	mid1980s	mid1980	NOUN
cjfa-33345	61	14	to	to	ADP
cjfa-33345	61	15	5.600	5.600	NUM
cjfa-33345	61	16	today	today	NOUN
cjfa-33345	61	17	for	for	ADP
cjfa-33345	61	18	many	many	ADJ
cjfa-33345	61	19	reasons	reason	NOUN
cjfa-33345	61	20	.	.	PUNCT
cjfa-33345	62	1	since	since	SCONJ
cjfa-33345	62	2	the	the	DET
cjfa-33345	62	3	end	end	NOUN
cjfa-33345	62	4	of	of	ADP
cjfa-33345	62	5	the	the	DET
cjfa-33345	62	6	2007	2007	NUM
cjfa-33345	62	7	-	-	SYM
cjfa-33345	62	8	2009	2009	NUM
cjfa-33345	62	9	crisis	crisis	NOUN
cjfa-33345	62	10	,	,	PUNCT
cjfa-33345	62	11	voluntary	voluntary	ADJ
cjfa-33345	62	12	meltdowns	meltdown	NOUN
cjfa-33345	62	13	have	have	AUX
cjfa-33345	62	14	been	be	AUX
cjfa-33345	62	15	the	the	DET
cjfa-33345	62	16	main	main	ADJ
cjfa-33345	62	17	cause	cause	NOUN
cjfa-33345	62	18	of	of	ADP
cjfa-33345	62	19	the	the	DET
cjfa-33345	62	20	decline	decline	NOUN
cjfa-33345	62	21	and	and	CCONJ
cjfa-33345	62	22	,	,	PUNCT
cjfa-33345	62	23	although	although	SCONJ
cjfa-33345	62	24	the	the	DET
cjfa-33345	62	25	reasons	reason	NOUN
cjfa-33345	62	26	for	for	ADP
cjfa-33345	62	27	the	the	DET
cjfa-33345	62	28	merger	merger	NOUN
cjfa-33345	62	29	are	be	AUX
cjfa-33345	62	30	potentially	potentially	ADV
cjfa-33345	62	31	different	different	ADJ
cjfa-33345	62	32	,	,	PUNCT
cjfa-33345	62	33	the	the	DET
cjfa-33345	62	34	transaction	transaction	NOUN
cjfa-33345	62	35	is	be	AUX
cjfa-33345	62	36	assessed	assess	VERB
cjfa-33345	62	37	and	and	CCONJ
cjfa-33345	62	38	may	may	AUX
cjfa-33345	62	39	result	result	VERB
cjfa-33345	62	40	in	in	ADP
cjfa-33345	62	41	a	a	DET
cjfa-33345	62	42	denial	denial	NOUN
cjfa-33345	62	43	.	.	PUNCT
cjfa-33345	63	1	for	for	ADP
cjfa-33345	63	2	example	example	NOUN
cjfa-33345	63	3	,	,	PUNCT
cjfa-33345	63	4	according	accord	VERB
cjfa-33345	63	5	to	to	ADP
cjfa-33345	63	6	adams	adams	PROPN
cjfa-33345	63	7	(	(	PUNCT
cjfa-33345	63	8	2012	2012	NUM
cjfa-33345	63	9	)	)	PUNCT
cjfa-33345	63	10	,	,	PUNCT
cjfa-33345	63	11	the	the	DET
cjfa-33345	63	12	use	use	NOUN
cjfa-33345	63	13	of	of	ADP
cjfa-33345	63	14	pilloff	pilloff	NOUN
cjfa-33345	63	15	’s	’s	NOUN
cjfa-33345	63	16	and	and	CCONJ
cjfa-33345	63	17	rhoades	rhoade	NOUN
cjfa-33345	63	18	’s	’s	PART
cjfa-33345	63	19	methods	method	NOUN
cjfa-33345	63	20	to	to	PART
cjfa-33345	63	21	account	account	VERB
cjfa-33345	63	22	for	for	ADP
cjfa-33345	63	23	mergers	merger	NOUN
cjfa-33345	63	24	would	would	AUX
cjfa-33345	63	25	result	result	VERB
cjfa-33345	63	26	in	in	ADP
cjfa-33345	63	27	significantly	significantly	ADV
cjfa-33345	63	28	fewer	few	ADJ
cjfa-33345	63	29	mergers	merger	NOUN
cjfa-33345	63	30	between	between	ADP
cjfa-33345	63	31	2008	2008	NUM
cjfa-33345	63	32	and	and	CCONJ
cjfa-33345	63	33	2010	2010	NUM
cjfa-33345	63	34	because	because	SCONJ
cjfa-33345	63	35	,	,	PUNCT
cjfa-33345	63	36	in	in	ADP
cjfa-33345	63	37	those	those	DET
cjfa-33345	63	38	years	year	NOUN
cjfa-33345	63	39	,	,	PUNCT
cjfa-33345	63	40	a	a	DET
cjfa-33345	63	41	number	number	NOUN
cjfa-33345	63	42	of	of	ADP
cjfa-33345	63	43	failure	failure	NOUN
cjfa-33345	63	44	-	-	PUNCT
cjfa-33345	63	45	related	relate	VERB
cjfa-33345	63	46	mergers	merger	NOUN
cjfa-33345	63	47	took	take	VERB
cjfa-33345	63	48	place	place	NOUN
cjfa-33345	63	49	.	.	PUNCT
cjfa-33345	64	1	in	in	ADP
cjfa-33345	64	2	fact	fact	NOUN
cjfa-33345	64	3	,	,	PUNCT
cjfa-33345	64	4	the	the	DET
cjfa-33345	64	5	financial	financial	ADJ
cjfa-33345	64	6	crisis	crisis	NOUN
cjfa-33345	64	7	has	have	AUX
cjfa-33345	64	8	shaped	shape	VERB
cjfa-33345	64	9	consolidation	consolidation	NOUN
cjfa-33345	64	10	activities	activity	NOUN
cjfa-33345	64	11	in	in	ADP
cjfa-33345	64	12	the	the	DET
cjfa-33345	64	13	us	us	PROPN
cjfa-33345	64	14	market	market	NOUN
cjfa-33345	64	15	with	with	ADP
cjfa-33345	64	16	a	a	DET
cjfa-33345	64	17	decline	decline	NOUN
cjfa-33345	64	18	in	in	ADP
cjfa-33345	64	19	the	the	DET
cjfa-33345	64	20	number	number	NOUN
cjfa-33345	64	21	of	of	ADP
cjfa-33345	64	22	transactions	transaction	NOUN
cjfa-33345	64	23	,	,	PUNCT
cjfa-33345	64	24	as	as	ADV
cjfa-33345	64	25	well	well	ADV
cjfa-33345	64	26	as	as	ADP
cjfa-33345	64	27	an	an	DET
cjfa-33345	64	28	evolution	evolution	NOUN
cjfa-33345	64	29	of	of	ADP
cjfa-33345	64	30	mergers	merger	NOUN
cjfa-33345	64	31	and	and	CCONJ
cjfa-33345	64	32	acquisitions	acquisition	NOUN
cjfa-33345	64	33	to	to	ADP
cjfa-33345	64	34	institutions	institution	NOUN
cjfa-33345	64	35	in	in	ADP
cjfa-33345	64	36	difficulty	difficulty	NOUN
cjfa-33345	64	37	(	(	PUNCT
cjfa-33345	64	38	adams	adams	PROPN
cjfa-33345	64	39	,	,	PUNCT
cjfa-33345	64	40	2012	2012	NUM
cjfa-33345	64	41	)	)	PUNCT
cjfa-33345	64	42	.	.	PUNCT
cjfa-33345	65	1	by	by	ADP
cjfa-33345	65	2	way	way	NOUN
cjfa-33345	65	3	of	of	ADP
cjfa-33345	65	4	illustration	illustration	NOUN
cjfa-33345	65	5	,	,	PUNCT
cjfa-33345	65	6	the	the	DET
cjfa-33345	65	7	number	number	NOUN
cjfa-33345	65	8	of	of	ADP
cjfa-33345	65	9	banks	bank	NOUN
cjfa-33345	65	10	that	that	PRON
cjfa-33345	65	11	was	be	AUX
cjfa-33345	65	12	eliminated	eliminate	VERB
cjfa-33345	65	13	by	by	ADP
cjfa-33345	65	14	mergers	merger	NOUN
cjfa-33345	65	15	activity	activity	NOUN
cjfa-33345	65	16	decreased	decrease	VERB
cjfa-33345	65	17	by	by	ADP
cjfa-33345	65	18	26	26	NUM
cjfa-33345	65	19	%	%	NOUN
cjfa-33345	65	20	from	from	ADP
cjfa-33345	65	21	2.272	2.272	NUM
cjfa-33345	65	22	banks	bank	NOUN
cjfa-33345	65	23	between	between	ADP
cjfa-33345	65	24	2000	2000	NUM
cjfa-33345	65	25	and	and	CCONJ
cjfa-33345	65	26	2006	2006	NUM
cjfa-33345	65	27	to	to	ADP
cjfa-33345	65	28	1.695	1.695	NUM
cjfa-33345	65	29	banks	bank	NOUN
cjfa-33345	65	30	between	between	ADP
cjfa-33345	65	31	2007	2007	NUM
cjfa-33345	65	32	and	and	CCONJ
cjfa-33345	65	33	2012	2012	NUM
cjfa-33345	65	34	.	.	PUNCT
cjfa-33345	66	1	between	between	ADP
cjfa-33345	66	2	2000	2000	NUM
cjfa-33345	66	3	and	and	CCONJ
cjfa-33345	66	4	2010	2010	NUM
cjfa-33345	66	5	,	,	PUNCT
cjfa-33345	66	6	2,403	2,403	NUM
cjfa-33345	66	7	mergers	merger	NOUN
cjfa-33345	66	8	took	take	VERB
cjfa-33345	66	9	place	place	NOUN
cjfa-33345	66	10	.	.	PUNCT
cjfa-33345	67	1	on	on	ADP
cjfa-33345	67	2	average	average	ADJ
cjfa-33345	67	3	,	,	PUNCT
cjfa-33345	67	4	every	every	DET
cjfa-33345	67	5	year	year	NOUN
cjfa-33345	67	6	218	218	NUM
cjfa-33345	67	7	mergers	merger	NOUN
cjfa-33345	67	8	occured	occur	VERB
cjfa-33345	67	9	,	,	PUNCT
cjfa-33345	67	10	with	with	ADP
cjfa-33345	67	11	a	a	DET
cjfa-33345	67	12	minimum	minimum	NOUN
cjfa-33345	67	13	of	of	ADP
cjfa-33345	67	14	158	158	NUM
cjfa-33345	67	15	in	in	ADP
cjfa-33345	67	16	2009	2009	NUM
cjfa-33345	67	17	and	and	CCONJ
cjfa-33345	67	18	a	a	DET
cjfa-33345	67	19	maximum	maximum	NOUN
cjfa-33345	67	20	of	of	ADP
cjfa-33345	67	21	259	259	NUM
cjfa-33345	67	22	in	in	ADP
cjfa-33345	67	23	2004	2004	NUM
cjfa-33345	67	24	,	,	PUNCT
cjfa-33345	67	25	with	with	ADP
cjfa-33345	67	26	the	the	DET
cjfa-33345	67	27	exception	exception	NOUN
cjfa-33345	67	28	of	of	ADP
cjfa-33345	67	29	2008	2008	NUM
cjfa-33345	67	30	,	,	PUNCT
cjfa-33345	67	31	2009	2009	NUM
cjfa-33345	67	32	and	and	CCONJ
cjfa-33345	67	33	2010	2010	NUM
cjfa-33345	67	34	,	,	PUNCT
cjfa-33345	67	35	where	where	SCONJ
cjfa-33345	67	36	we	we	PRON
cjfa-33345	67	37	can	can	AUX
cjfa-33345	67	38	note	note	VERB
cjfa-33345	67	39	a	a	DET
cjfa-33345	67	40	slightly	slightly	ADV
cjfa-33345	67	41	corporate	corporate	ADJ
cjfa-33345	67	42	governance	governance	NOUN
cjfa-33345	67	43	and	and	CCONJ
cjfa-33345	67	44	post	post	ADJ
cjfa-33345	67	45	-	-	ADJ
cjfa-33345	67	46	merger	merger	ADJ
cjfa-33345	67	47	performance	performance	NOUN
cjfa-33345	67	48	…	…	PUNCT
cjfa-33345	67	49	103	103	NUM
cjfa-33345	67	50	decrease	decrease	NOUN
cjfa-33345	67	51	to	to	PART
cjfa-33345	67	52	reach	reach	VERB
cjfa-33345	67	53	195	195	NUM
cjfa-33345	67	54	,	,	PUNCT
cjfa-33345	67	55	158	158	NUM
cjfa-33345	67	56	and	and	CCONJ
cjfa-33345	67	57	180	180	NUM
cjfa-33345	67	58	mergers	merger	NOUN
cjfa-33345	67	59	respectively	respectively	ADV
cjfa-33345	67	60	.	.	PUNCT
cjfa-33345	68	1	before	before	ADP
cjfa-33345	68	2	2000	2000	NUM
cjfa-33345	68	3	,	,	PUNCT
cjfa-33345	68	4	mergers	merger	NOUN
cjfa-33345	68	5	were	be	AUX
cjfa-33345	68	6	much	much	ADV
cjfa-33345	68	7	larger	large	ADJ
cjfa-33345	68	8	,	,	PUNCT
cjfa-33345	68	9	with	with	ADP
cjfa-33345	68	10	more	more	ADJ
cjfa-33345	68	11	than	than	ADP
cjfa-33345	68	12	440	440	NUM
cjfa-33345	68	13	mergers	merger	NOUN
cjfa-33345	68	14	,	,	PUNCT
cjfa-33345	68	15	on	on	ADP
cjfa-33345	68	16	average	average	ADJ
cjfa-33345	68	17	,	,	PUNCT
cjfa-33345	68	18	from	from	ADP
cjfa-33345	68	19	1994	1994	NUM
cjfa-33345	68	20	to	to	ADP
cjfa-33345	68	21	1999	1999	NUM
cjfa-33345	68	22	.	.	PUNCT
cjfa-33345	69	1	the	the	DET
cjfa-33345	69	2	decline	decline	NOUN
cjfa-33345	69	3	that	that	PRON
cjfa-33345	69	4	began	begin	VERB
cjfa-33345	69	5	in	in	ADP
cjfa-33345	69	6	august	august	PROPN
cjfa-33345	69	7	2007	2007	NUM
cjfa-33345	69	8	contributed	contribute	VERB
cjfa-33345	69	9	to	to	ADP
cjfa-33345	69	10	the	the	DET
cjfa-33345	69	11	observed	observe	VERB
cjfa-33345	69	12	decline	decline	NOUN
cjfa-33345	69	13	in	in	ADP
cjfa-33345	69	14	the	the	DET
cjfa-33345	69	15	number	number	NOUN
cjfa-33345	69	16	of	of	ADP
cjfa-33345	69	17	mergers	merger	NOUN
cjfa-33345	69	18	transactions	transaction	NOUN
cjfa-33345	69	19	.	.	PUNCT
cjfa-33345	70	1	the	the	DET
cjfa-33345	70	2	types	type	NOUN
cjfa-33345	70	3	of	of	ADP
cjfa-33345	70	4	transactions	transaction	NOUN
cjfa-33345	70	5	have	have	AUX
cjfa-33345	70	6	changed	change	VERB
cjfa-33345	70	7	considerably	considerably	ADV
cjfa-33345	70	8	over	over	ADP
cjfa-33345	70	9	these	these	DET
cjfa-33345	70	10	years	year	NOUN
cjfa-33345	70	11	.	.	PUNCT
cjfa-33345	71	1	the	the	DET
cjfa-33345	71	2	years	year	NOUN
cjfa-33345	71	3	2008	2008	NUM
cjfa-33345	71	4	and	and	CCONJ
cjfa-33345	71	5	2009	2009	NUM
cjfa-33345	71	6	were	be	AUX
cjfa-33345	71	7	marked	mark	VERB
cjfa-33345	71	8	by	by	ADP
cjfa-33345	71	9	a	a	DET
cjfa-33345	71	10	significant	significant	ADJ
cjfa-33345	71	11	increase	increase	NOUN
cjfa-33345	71	12	in	in	ADP
cjfa-33345	71	13	the	the	DET
cjfa-33345	71	14	number	number	NOUN
cjfa-33345	71	15	of	of	ADP
cjfa-33345	71	16	transactions	transaction	NOUN
cjfa-33345	71	17	involving	involve	VERB
cjfa-33345	71	18	failed	fail	VERB
cjfa-33345	71	19	or	or	CCONJ
cjfa-33345	71	20	failing	fail	VERB
cjfa-33345	71	21	institutions	institution	NOUN
cjfa-33345	71	22	.	.	PUNCT
cjfa-33345	72	1	these	these	DET
cjfa-33345	72	2	two	two	NUM
cjfa-33345	72	3	years	year	NOUN
cjfa-33345	72	4	have	have	AUX
cjfa-33345	72	5	been	be	AUX
cjfa-33345	72	6	also	also	ADV
cjfa-33345	72	7	marked	mark	VERB
cjfa-33345	72	8	by	by	ADP
cjfa-33345	72	9	a	a	DET
cjfa-33345	72	10	dramatic	dramatic	ADJ
cjfa-33345	72	11	decrease	decrease	NOUN
cjfa-33345	72	12	in	in	ADP
cjfa-33345	72	13	the	the	DET
cjfa-33345	72	14	number	number	NOUN
cjfa-33345	72	15	of	of	ADP
cjfa-33345	72	16	standard	standard	ADJ
cjfa-33345	72	17	acquisitions	acquisition	NOUN
cjfa-33345	72	18	.	.	PUNCT
cjfa-33345	73	1	particularly	particularly	ADV
cjfa-33345	73	2	,	,	PUNCT
cjfa-33345	73	3	two	two	NUM
cjfa-33345	73	4	years	year	NOUN
cjfa-33345	73	5	were	be	AUX
cjfa-33345	73	6	remarkable	remarkable	ADJ
cjfa-33345	73	7	in	in	ADP
cjfa-33345	73	8	the	the	DET
cjfa-33345	73	9	volume	volume	NOUN
cjfa-33345	73	10	of	of	ADP
cjfa-33345	73	11	merger	merger	NOUN
cjfa-33345	73	12	activity	activity	NOUN
cjfa-33345	73	13	:	:	PUNCT
cjfa-33345	73	14	2001	2001	NUM
cjfa-33345	73	15	and	and	CCONJ
cjfa-33345	73	16	2004	2004	NUM
cjfa-33345	73	17	.	.	PUNCT
cjfa-33345	74	1	in	in	ADP
cjfa-33345	74	2	each	each	PRON
cjfa-33345	74	3	of	of	ADP
cjfa-33345	74	4	these	these	DET
cjfa-33345	74	5	years	year	NOUN
cjfa-33345	74	6	,	,	PUNCT
cjfa-33345	74	7	the	the	DET
cjfa-33345	74	8	averages	average	NOUN
cjfa-33345	74	9	and	and	CCONJ
cjfa-33345	74	10	percent	percent	NOUN
cjfa-33345	74	11	industry	industry	NOUN
cjfa-33345	74	12	in	in	ADP
cjfa-33345	74	13	each	each	DET
cjfa-33345	74	14	category	category	NOUN
cjfa-33345	74	15	were	be	AUX
cjfa-33345	74	16	well	well	ADV
cjfa-33345	74	17	above	above	ADP
cjfa-33345	74	18	levels	level	NOUN
cjfa-33345	74	19	in	in	ADP
cjfa-33345	74	20	other	other	ADJ
cjfa-33345	74	21	years	year	NOUN
cjfa-33345	74	22	.	.	PUNCT
cjfa-33345	75	1	althought	althought	ADV
cjfa-33345	75	2	,	,	PUNCT
cjfa-33345	75	3	the	the	DET
cjfa-33345	75	4	year	year	NOUN
cjfa-33345	75	5	2015	2015	NUM
cjfa-33345	75	6	witnessed	witness	VERB
cjfa-33345	75	7	the	the	DET
cjfa-33345	75	8	largest	large	ADJ
cjfa-33345	75	9	number	number	NOUN
cjfa-33345	75	10	and	and	CCONJ
cjfa-33345	75	11	the	the	DET
cjfa-33345	75	12	biggest	big	ADJ
cjfa-33345	75	13	of	of	ADP
cjfa-33345	75	14	merger	merger	NOUN
cjfa-33345	75	15	and	and	CCONJ
cjfa-33345	75	16	acquisition	acquisition	NOUN
cjfa-33345	75	17	transaction	transaction	NOUN
cjfa-33345	75	18	,	,	PUNCT
cjfa-33345	75	19	which	which	PRON
cjfa-33345	75	20	increased	increase	VERB
cjfa-33345	75	21	by	by	ADP
cjfa-33345	75	22	42	42	NUM
cjfa-33345	75	23	%	%	NOUN
cjfa-33345	75	24	over	over	ADP
cjfa-33345	75	25	the	the	DET
cjfa-33345	75	26	2014	2014	NUM
cjfa-33345	75	27	figures	figure	NOUN
cjfa-33345	75	28	,	,	PUNCT
cjfa-33345	75	29	to	to	ADP
cjfa-33345	75	30	a	a	DET
cjfa-33345	75	31	new	new	ADJ
cjfa-33345	75	32	high	high	NOUN
cjfa-33345	75	33	of	of	ADP
cjfa-33345	75	34	us$	us$	SYM
cjfa-33345	75	35	4.7	4.7	NUM
cjfa-33345	75	36	trillion	trillion	NUM
cjfa-33345	75	37	.	.	PUNCT
cjfa-33345	76	1	the	the	DET
cjfa-33345	76	2	year	year	NOUN
cjfa-33345	76	3	2015	2015	NUM
cjfa-33345	76	4	was	be	AUX
cjfa-33345	76	5	also	also	ADV
cjfa-33345	76	6	the	the	DET
cjfa-33345	76	7	strongest	strong	ADJ
cjfa-33345	76	8	year	year	NOUN
cjfa-33345	76	9	for	for	ADP
cjfa-33345	76	10	merger	merger	NOUN
cjfa-33345	76	11	activity	activity	NOUN
cjfa-33345	76	12	since	since	SCONJ
cjfa-33345	76	13	1980	1980	NUM
cjfa-33345	76	14	.	.	PUNCT
cjfa-33345	77	1	many	many	ADJ
cjfa-33345	77	2	papers	paper	NOUN
cjfa-33345	77	3	have	have	AUX
cjfa-33345	77	4	dealt	deal	VERB
cjfa-33345	77	5	with	with	ADP
cjfa-33345	77	6	bank	bank	NOUN
cjfa-33345	77	7	mergers	merger	NOUN
cjfa-33345	77	8	over	over	ADP
cjfa-33345	77	9	the	the	DET
cjfa-33345	77	10	last	last	ADJ
cjfa-33345	77	11	50	50	NUM
cjfa-33345	77	12	years	year	NOUN
cjfa-33345	77	13	.	.	PUNCT
cjfa-33345	78	1	pilloff	pilloff	NOUN
cjfa-33345	78	2	(	(	PUNCT
cjfa-33345	78	3	2004	2004	NUM
cjfa-33345	78	4	)	)	PUNCT
cjfa-33345	78	5	investigates	investigate	VERB
cjfa-33345	78	6	mergers	merger	NOUN
cjfa-33345	78	7	from	from	ADP
cjfa-33345	78	8	1994	1994	NUM
cjfa-33345	78	9	to	to	ADP
cjfa-33345	78	10	2003	2003	NUM
cjfa-33345	78	11	.	.	PUNCT
cjfa-33345	79	1	wheelock	wheelock	NOUN
cjfa-33345	79	2	(	(	PUNCT
cjfa-33345	79	3	2011	2011	NUM
cjfa-33345	79	4	)	)	PUNCT
cjfa-33345	79	5	study	study	NOUN
cjfa-33345	79	6	mergers	merger	NOUN
cjfa-33345	79	7	during	during	ADP
cjfa-33345	79	8	the	the	DET
cjfa-33345	79	9	2007	2007	NUM
cjfa-33345	79	10	financial	financial	ADJ
cjfa-33345	79	11	crisis	crisis	NOUN
cjfa-33345	79	12	to	to	ADP
cjfa-33345	79	13	2010	2010	NUM
cjfa-33345	79	14	.	.	PUNCT
cjfa-33345	80	1	these	these	DET
cjfa-33345	80	2	papers	paper	NOUN
cjfa-33345	80	3	differ	differ	VERB
cjfa-33345	80	4	in	in	ADP
cjfa-33345	80	5	their	their	PRON
cjfa-33345	80	6	data	data	NOUN
cjfa-33345	80	7	sources	source	NOUN
cjfa-33345	80	8	on	on	ADP
cjfa-33345	80	9	bank	bank	NOUN
cjfa-33345	80	10	mergers	merger	NOUN
cjfa-33345	80	11	and	and	CCONJ
cjfa-33345	80	12	how	how	SCONJ
cjfa-33345	80	13	they	they	PRON
cjfa-33345	80	14	count	count	VERB
cjfa-33345	80	15	for	for	ADP
cjfa-33345	80	16	bank	bank	NOUN
cjfa-33345	80	17	mergers	merger	NOUN
cjfa-33345	80	18	,	,	PUNCT
cjfa-33345	80	19	and	and	CCONJ
cjfa-33345	80	20	many	many	ADJ
cjfa-33345	80	21	of	of	ADP
cjfa-33345	80	22	them	they	PRON
cjfa-33345	80	23	identify	identify	VERB
cjfa-33345	80	24	post	post	ADJ
cjfa-33345	80	25	-	-	ADJ
cjfa-33345	80	26	merger	merger	ADJ
cjfa-33345	80	27	performance	performance	NOUN
cjfa-33345	80	28	improvements	improvement	NOUN
cjfa-33345	80	29	for	for	ADP
cjfa-33345	80	30	mergers	merger	NOUN
cjfa-33345	80	31	with	with	ADP
cjfa-33345	80	32	certain	certain	ADJ
cjfa-33345	80	33	transaction	transaction	NOUN
cjfa-33345	80	34	characteristics	characteristic	NOUN
cjfa-33345	80	35	(	(	PUNCT
cjfa-33345	80	36	hagendorff	hagendorff	NOUN
cjfa-33345	80	37	&	&	CCONJ
cjfa-33345	80	38	keasey	keasey	ADJ
cjfa-33345	80	39	,	,	PUNCT
cjfa-33345	80	40	2009	2009	NUM
cjfa-33345	80	41	)	)	PUNCT
cjfa-33345	80	42	.	.	PUNCT
cjfa-33345	81	1	other	other	ADJ
cjfa-33345	81	2	researches	research	NOUN
cjfa-33345	81	3	examine	examine	VERB
cjfa-33345	81	4	the	the	DET
cjfa-33345	81	5	pre	pre	ADJ
cjfa-33345	81	6	-	-	ADJ
cjfa-33345	81	7	merger	merger	ADJ
cjfa-33345	81	8	characteristics	characteristic	NOUN
cjfa-33345	81	9	of	of	ADP
cjfa-33345	81	10	target	target	NOUN
cjfa-33345	81	11	and	and	CCONJ
cjfa-33345	81	12	acquiring	acquire	VERB
cjfa-33345	81	13	banks	bank	NOUN
cjfa-33345	81	14	,	,	PUNCT
cjfa-33345	81	15	and	and	CCONJ
cjfa-33345	81	16	identifies	identify	VERB
cjfa-33345	81	17	changes	change	NOUN
cjfa-33345	81	18	in	in	ADP
cjfa-33345	81	19	operating	operating	NOUN
cjfa-33345	81	20	efficiency	efficiency	NOUN
cjfa-33345	81	21	,	,	PUNCT
cjfa-33345	81	22	as	as	ADV
cjfa-33345	81	23	well	well	ADV
cjfa-33345	81	24	as	as	ADP
cjfa-33345	81	25	the	the	DET
cjfa-33345	81	26	trend	trend	NOUN
cjfa-33345	81	27	of	of	ADP
cjfa-33345	81	28	mean	mean	ADJ
cjfa-33345	81	29	reversion	reversion	NOUN
cjfa-33345	81	30	in	in	ADP
cjfa-33345	81	31	the	the	DET
cjfa-33345	81	32	post	post	ADJ
cjfa-33345	81	33	-	-	ADJ
cjfa-33345	81	34	merger	merger	ADJ
cjfa-33345	81	35	period	period	NOUN
cjfa-33345	81	36	(	(	PUNCT
cjfa-33345	81	37	alsharkas	alsharkas	PROPN
cjfa-33345	81	38	,	,	PUNCT
cjfa-33345	81	39	hassan	hassan	PROPN
cjfa-33345	81	40	&	&	CCONJ
cjfa-33345	81	41	lawrence	lawrence	PROPN
cjfa-33345	81	42	,	,	PUNCT
cjfa-33345	81	43	2008	2008	NUM
cjfa-33345	81	44	)	)	PUNCT
cjfa-33345	81	45	.	.	PUNCT
cjfa-33345	82	1	however	however	ADV
cjfa-33345	82	2	,	,	PUNCT
cjfa-33345	82	3	until	until	ADP
cjfa-33345	82	4	this	this	DET
cjfa-33345	82	5	date	date	NOUN
cjfa-33345	82	6	many	many	ADJ
cjfa-33345	82	7	studies	study	NOUN
cjfa-33345	82	8	,	,	PUNCT
cjfa-33345	82	9	focus	focus	VERB
cjfa-33345	82	10	on	on	ADP
cjfa-33345	82	11	m&as	m&as	PROPN
cjfa-33345	82	12	occured	occur	VERB
cjfa-33345	82	13	in	in	ADP
cjfa-33345	82	14	the	the	DET
cjfa-33345	82	15	post	post	ADJ
cjfa-33345	82	16	financial	financial	ADJ
cjfa-33345	82	17	crisis	crisis	NOUN
cjfa-33345	82	18	period	period	NOUN
cjfa-33345	82	19	of	of	ADP
cjfa-33345	82	20	2007	2007	NUM
cjfa-33345	82	21	-	-	SYM
cjfa-33345	82	22	2009	2009	NUM
cjfa-33345	82	23	,	,	PUNCT
cjfa-33345	82	24	a	a	DET
cjfa-33345	82	25	period	period	NOUN
cjfa-33345	82	26	with	with	ADP
cjfa-33345	82	27	high	high	ADJ
cjfa-33345	82	28	systemic	systemic	ADJ
cjfa-33345	82	29	risk	risk	NOUN
cjfa-33345	82	30	and	and	CCONJ
cjfa-33345	82	31	financial	financial	ADJ
cjfa-33345	82	32	instability	instability	NOUN
cjfa-33345	82	33	,	,	PUNCT
cjfa-33345	82	34	without	without	ADP
cjfa-33345	82	35	taking	take	VERB
cjfa-33345	82	36	into	into	ADP
cjfa-33345	82	37	account	account	NOUN
cjfa-33345	82	38	the	the	DET
cjfa-33345	82	39	special	special	ADJ
cjfa-33345	82	40	characteristics	characteristic	NOUN
cjfa-33345	82	41	of	of	ADP
cjfa-33345	82	42	this	this	DET
cjfa-33345	82	43	period	period	NOUN
cjfa-33345	82	44	.	.	PUNCT
cjfa-33345	83	1	in	in	ADP
cjfa-33345	83	2	addition	addition	NOUN
cjfa-33345	83	3	,	,	PUNCT
cjfa-33345	83	4	previous	previous	ADJ
cjfa-33345	83	5	researches	research	NOUN
cjfa-33345	83	6	in	in	ADP
cjfa-33345	83	7	the	the	DET
cjfa-33345	83	8	2000s	2000s	NUM
cjfa-33345	83	9	based	base	VERB
cjfa-33345	83	10	on	on	ADP
cjfa-33345	83	11	earlier	early	ADJ
cjfa-33345	83	12	literature	literature	NOUN
cjfa-33345	83	13	and	and	CCONJ
cjfa-33345	83	14	examining	examine	VERB
cjfa-33345	83	15	additional	additional	ADJ
cjfa-33345	83	16	measures	measure	NOUN
cjfa-33345	83	17	of	of	ADP
cjfa-33345	83	18	corporate	corporate	ADJ
cjfa-33345	83	19	performance	performance	NOUN
cjfa-33345	83	20	,	,	PUNCT
cjfa-33345	83	21	have	have	AUX
cjfa-33345	83	22	tried	try	VERB
cjfa-33345	83	23	to	to	PART
cjfa-33345	83	24	assess	assess	VERB
cjfa-33345	83	25	post	post	ADJ
cjfa-33345	83	26	-	-	ADJ
cjfa-33345	83	27	merger	merger	ADJ
cjfa-33345	83	28	performance	performance	NOUN
cjfa-33345	83	29	using	use	VERB
cjfa-33345	83	30	various	various	ADJ
cjfa-33345	83	31	factors	factor	NOUN
cjfa-33345	83	32	,	,	PUNCT
cjfa-33345	83	33	but	but	CCONJ
cjfa-33345	83	34	identify	identify	VERB
cjfa-33345	83	35	inconsistent	inconsistent	ADJ
cjfa-33345	83	36	results	result	NOUN
cjfa-33345	83	37	in	in	ADP
cjfa-33345	83	38	the	the	DET
cjfa-33345	83	39	us	us	PROPN
cjfa-33345	83	40	banking	banking	NOUN
cjfa-33345	83	41	sector	sector	NOUN
cjfa-33345	83	42	prior	prior	ADV
cjfa-33345	83	43	to	to	ADP
cjfa-33345	83	44	the	the	DET
cjfa-33345	83	45	financial	financial	ADJ
cjfa-33345	83	46	crisis	crisis	NOUN
cjfa-33345	83	47	years	year	NOUN
cjfa-33345	83	48	2007	2007	NUM
cjfa-33345	83	49	-	-	SYM
cjfa-33345	83	50	2009	2009	NUM
cjfa-33345	83	51	.	.	PUNCT
cjfa-33345	84	1	that	that	PRON
cjfa-33345	84	2	is	be	AUX
cjfa-33345	84	3	why	why	SCONJ
cjfa-33345	84	4	we	we	PRON
cjfa-33345	84	5	try	try	VERB
cjfa-33345	84	6	in	in	ADP
cjfa-33345	84	7	this	this	DET
cjfa-33345	84	8	work	work	NOUN
cjfa-33345	84	9	to	to	PART
cjfa-33345	84	10	contribute	contribute	VERB
cjfa-33345	84	11	to	to	ADP
cjfa-33345	84	12	previous	previous	ADJ
cjfa-33345	84	13	studies	study	NOUN
cjfa-33345	84	14	by	by	ADP
cjfa-33345	84	15	identifying	identify	VERB
cjfa-33345	84	16	any	any	DET
cjfa-33345	84	17	differences	difference	NOUN
cjfa-33345	84	18	in	in	ADP
cjfa-33345	84	19	post	post	NOUN
cjfa-33345	84	20	-	-	NOUN
cjfa-33345	84	21	mergers	merger	NOUN
cjfa-33345	84	22	during	during	ADP
cjfa-33345	84	23	the	the	DET
cjfa-33345	84	24	post	post	ADJ
cjfa-33345	84	25	-	-	ADJ
cjfa-33345	84	26	financial	financial	ADJ
cjfa-33345	84	27	crisis	crisis	NOUN
cjfa-33345	84	28	period	period	NOUN
cjfa-33345	84	29	,	,	PUNCT
cjfa-33345	84	30	using	use	VERB
cjfa-33345	84	31	a	a	DET
cjfa-33345	84	32	new	new	ADJ
cjfa-33345	84	33	financial	financial	ADJ
cjfa-33345	84	34	performance	performance	NOUN
cjfa-33345	84	35	measure	measure	NOUN
cjfa-33345	84	36	called	call	VERB
cjfa-33345	84	37	the	the	DET
cjfa-33345	84	38	“	"	PUNCT
cjfa-33345	84	39	deficit	deficit	NOUN
cjfa-33345	84	40	ratio	ratio	NOUN
cjfa-33345	84	41	”	"	PUNCT
cjfa-33345	84	42	to	to	PART
cjfa-33345	84	43	evaluate	evaluate	VERB
cjfa-33345	84	44	the	the	DET
cjfa-33345	84	45	post	post	ADJ
cjfa-33345	84	46	-	-	ADJ
cjfa-33345	84	47	merger	merger	ADJ
cjfa-33345	84	48	performance	performance	NOUN
cjfa-33345	84	49	of	of	ADP
cjfa-33345	84	50	us	us	PROPN
cjfa-33345	84	51	banks	bank	NOUN
cjfa-33345	84	52	,	,	PUNCT
cjfa-33345	84	53	particularly	particularly	ADV
cjfa-33345	84	54	in	in	ADP
cjfa-33345	84	55	the	the	DET
cjfa-33345	84	56	post	post	ADJ
cjfa-33345	84	57	financial	financial	ADJ
cjfa-33345	84	58	crisis	crisis	NOUN
cjfa-33345	84	59	period	period	NOUN
cjfa-33345	84	60	of	of	ADP
cjfa-33345	84	61	2007	2007	NUM
cjfa-33345	84	62	-	-	SYM
cjfa-33345	84	63	2009	2009	NUM
cjfa-33345	84	64	and	and	CCONJ
cjfa-33345	84	65	compare	compare	VERB
cjfa-33345	84	66	our	our	PRON
cjfa-33345	84	67	results	result	NOUN
cjfa-33345	84	68	with	with	ADP
cjfa-33345	84	69	those	those	PRON
cjfa-33345	84	70	of	of	ADP
cjfa-33345	84	71	other	other	ADJ
cjfa-33345	84	72	studies	study	NOUN
cjfa-33345	84	73	that	that	PRON
cjfa-33345	84	74	failed	fail	VERB
cjfa-33345	84	75	to	to	PART
cjfa-33345	84	76	reach	reach	VERB
cjfa-33345	84	77	consensus	consensus	NOUN
cjfa-33345	84	78	on	on	ADP
cjfa-33345	84	79	this	this	DET
cjfa-33345	84	80	issue	issue	NOUN
cjfa-33345	84	81	.	.	PUNCT
cjfa-33345	85	1	amira	amira	PROPN
cjfa-33345	85	2	neffati	neffati	PROPN
cjfa-33345	85	3	,	,	PUNCT
cjfa-33345	85	4	wided	wide	VERB
cjfa-33345	85	5	khiari	khiari	PROPN
cjfa-33345	85	6	,	,	PUNCT
cjfa-33345	85	7	azhaar	azhaar	PROPN
cjfa-33345	85	8	lajmi104	lajmi104	PROPN
cjfa-33345	85	9	research	research	NOUN
cjfa-33345	85	10	methodology	methodology	NOUN
cjfa-33345	85	11	and	and	CCONJ
cjfa-33345	85	12	research	research	NOUN
cjfa-33345	85	13	process	process	NOUN
cjfa-33345	85	14	sample	sample	NOUN
cjfa-33345	85	15	selection	selection	NOUN
cjfa-33345	85	16	the	the	DET
cjfa-33345	85	17	governance	governance	NOUN
cjfa-33345	85	18	variables	variable	NOUN
cjfa-33345	85	19	used	use	VERB
cjfa-33345	85	20	in	in	ADP
cjfa-33345	85	21	this	this	DET
cjfa-33345	85	22	study	study	NOUN
cjfa-33345	85	23	are	be	AUX
cjfa-33345	85	24	the	the	DET
cjfa-33345	85	25	percentage	percentage	NOUN
cjfa-33345	85	26	of	of	ADP
cjfa-33345	85	27	managerial	managerial	ADJ
cjfa-33345	85	28	ownership	ownership	NOUN
cjfa-33345	85	29	,	,	PUNCT
cjfa-33345	85	30	the	the	DET
cjfa-33345	85	31	percentage	percentage	NOUN
cjfa-33345	85	32	owned	own	VERB
cjfa-33345	85	33	by	by	ADP
cjfa-33345	85	34	outside	outside	ADJ
cjfa-33345	85	35	directors	director	NOUN
cjfa-33345	85	36	and	and	CCONJ
cjfa-33345	85	37	the	the	DET
cjfa-33345	85	38	percentage	percentage	NOUN
cjfa-33345	85	39	of	of	ADP
cjfa-33345	85	40	stock	stock	NOUN
cjfa-33345	85	41	options	option	NOUN
cjfa-33345	85	42	granted	grant	VERB
cjfa-33345	85	43	to	to	ADP
cjfa-33345	85	44	managers	manager	NOUN
cjfa-33345	85	45	.	.	PUNCT
cjfa-33345	86	1	data	datum	NOUN
cjfa-33345	86	2	were	be	AUX
cjfa-33345	86	3	collected	collect	VERB
cjfa-33345	86	4	from	from	ADP
cjfa-33345	86	5	firms	firm	NOUN
cjfa-33345	86	6	’	'	PUNCT
cjfa-33345	86	7	proxy	proxy	ADJ
cjfa-33345	86	8	statement	statement	NOUN
cjfa-33345	86	9	reports	report	NOUN
cjfa-33345	86	10	and	and	CCONJ
cjfa-33345	86	11	annual	annual	ADJ
cjfa-33345	86	12	reports	report	NOUN
cjfa-33345	86	13	from	from	ADP
cjfa-33345	86	14	the	the	DET
cjfa-33345	86	15	edgarscan	edgarscan	PROPN
cjfa-33345	86	16	website	website	NOUN
cjfa-33345	86	17	.	.	PUNCT
cjfa-33345	87	1	our	our	PRON
cjfa-33345	87	2	sample	sample	NOUN
cjfa-33345	87	3	excluded	exclude	VERB
cjfa-33345	87	4	firms	firm	NOUN
cjfa-33345	87	5	that	that	PRON
cjfa-33345	87	6	have	have	VERB
cjfa-33345	87	7	no	no	DET
cjfa-33345	87	8	available	available	ADJ
cjfa-33345	87	9	reports	report	NOUN
cjfa-33345	87	10	.	.	PUNCT
cjfa-33345	88	1	54	54	NUM
cjfa-33345	88	2	banks	bank	NOUN
cjfa-33345	88	3	come	come	VERB
cjfa-33345	88	4	from	from	ADP
cjfa-33345	88	5	the	the	DET
cjfa-33345	88	6	list	list	NOUN
cjfa-33345	88	7	of	of	ADP
cjfa-33345	88	8	u.s	u.s	PROPN
cjfa-33345	88	9	.	.	PROPN
cjfa-33345	88	10	bank	bank	NOUN
cjfa-33345	88	11	mergers	merger	NOUN
cjfa-33345	88	12	,	,	PUNCT
cjfa-33345	88	13	published	publish	VERB
cjfa-33345	88	14	by	by	ADP
cjfa-33345	88	15	the	the	DET
cjfa-33345	88	16	federal	federal	PROPN
cjfa-33345	88	17	reserve	reserve	PROPN
cjfa-33345	88	18	bank	bank	PROPN
cjfa-33345	88	19	are	be	AUX
cjfa-33345	88	20	used	use	VERB
cjfa-33345	88	21	to	to	PART
cjfa-33345	88	22	study	study	VERB
cjfa-33345	88	23	the	the	DET
cjfa-33345	88	24	influence	influence	NOUN
cjfa-33345	88	25	of	of	ADP
cjfa-33345	88	26	corporate	corporate	ADJ
cjfa-33345	88	27	governance	governance	NOUN
cjfa-33345	88	28	variables	variable	NOUN
cjfa-33345	88	29	on	on	ADP
cjfa-33345	88	30	the	the	DET
cjfa-33345	88	31	banking	banking	NOUN
cjfa-33345	88	32	performance	performance	NOUN
cjfa-33345	88	33	following	follow	VERB
cjfa-33345	88	34	mergers	merger	NOUN
cjfa-33345	88	35	operations	operation	NOUN
cjfa-33345	88	36	over	over	ADP
cjfa-33345	88	37	the	the	DET
cjfa-33345	88	38	period	period	NOUN
cjfa-33345	88	39	2009	2009	NUM
cjfa-33345	88	40	-	-	SYM
cjfa-33345	88	41	2015	2015	NUM
cjfa-33345	88	42	.	.	PUNCT
cjfa-33345	89	1	descriptive	descriptive	ADJ
cjfa-33345	89	2	statistics	statistic	NOUN
cjfa-33345	89	3	analysis	analysis	NOUN
cjfa-33345	89	4	results	result	NOUN
cjfa-33345	89	5	from	from	ADP
cjfa-33345	89	6	descriptive	descriptive	ADJ
cjfa-33345	89	7	statistics	statistic	NOUN
cjfa-33345	89	8	of	of	ADP
cjfa-33345	89	9	governance	governance	NOUN
cjfa-33345	89	10	variables	variable	NOUN
cjfa-33345	89	11	are	be	AUX
cjfa-33345	89	12	summarized	summarize	VERB
cjfa-33345	89	13	in	in	ADP
cjfa-33345	89	14	table	table	NOUN
cjfa-33345	89	15	1	1	NUM
cjfa-33345	89	16	.	.	PUNCT
cjfa-33345	89	17	table	table	NOUN
cjfa-33345	89	18	1	1	NUM
cjfa-33345	89	19	.	.	PUNCT
cjfa-33345	89	20	descriptive	descriptive	ADJ
cjfa-33345	89	21	statistics	statistic	NOUN
cjfa-33345	89	22	n	n	PRON
cjfa-33345	89	23	minimum	minimum	ADJ
cjfa-33345	89	24	maximum	maximum	ADJ
cjfa-33345	89	25	mean	mean	NOUN
cjfa-33345	89	26	sd	sd	ADP
cjfa-33345	89	27	insiders	insider	NOUN
cjfa-33345	89	28	54	54	NUM
cjfa-33345	89	29	0.15	0.15	NUM
cjfa-33345	89	30	27.12	27.12	NUM
cjfa-33345	89	31	3.0409	3.0409	NUM
cjfa-33345	89	32	4.92244	4.92244	NUM
cjfa-33345	89	33	outsiders	outsider	NOUN
cjfa-33345	89	34	54	54	NUM
cjfa-33345	89	35	0.01	0.01	NUM
cjfa-33345	89	36	15.65	15.65	NUM
cjfa-33345	89	37	2.8580	2.8580	NUM
cjfa-33345	89	38	3.49104	3.49104	NUM
cjfa-33345	89	39	stock	stock	NOUN
cjfa-33345	89	40	option	option	NOUN
cjfa-33345	89	41	granted	grant	VERB
cjfa-33345	89	42	54	54	NUM
cjfa-33345	89	43	0.02	0.02	NUM
cjfa-33345	89	44	2.39	2.39	NUM
cjfa-33345	89	45	0.2351	0.2351	NUM
cjfa-33345	90	1	0.45606	0.45606	NUM
cjfa-33345	90	2	s	s	VERB
cjfa-33345	90	3	o	o	NOUN
cjfa-33345	90	4	u	u	NOUN
cjfa-33345	90	5	r	r	NOUN
cjfa-33345	90	6	c	c	NOUN
cjfa-33345	90	7	e	e	NOUN
cjfa-33345	90	8	:	:	PUNCT
cjfa-33345	90	9	own	own	ADJ
cjfa-33345	90	10	study	study	NOUN
cjfa-33345	90	11	.	.	PUNCT
cjfa-33345	91	1	these	these	DET
cjfa-33345	91	2	statistics	statistic	NOUN
cjfa-33345	91	3	show	show	VERB
cjfa-33345	91	4	that	that	SCONJ
cjfa-33345	91	5	the	the	DET
cjfa-33345	91	6	average	average	ADJ
cjfa-33345	91	7	managerial	managerial	ADJ
cjfa-33345	91	8	ownership	ownership	NOUN
cjfa-33345	91	9	of	of	ADP
cjfa-33345	91	10	banking	banking	NOUN
cjfa-33345	91	11	firms	firm	NOUN
cjfa-33345	91	12	is	be	AUX
cjfa-33345	91	13	3.0409	3.0409	NUM
cjfa-33345	91	14	which	which	PRON
cjfa-33345	91	15	is	be	AUX
cjfa-33345	91	16	less	less	ADJ
cjfa-33345	91	17	than	than	ADP
cjfa-33345	91	18	5	5	NUM
cjfa-33345	91	19	%	%	NOUN
cjfa-33345	91	20	(	(	PUNCT
cjfa-33345	91	21	only	only	ADV
cjfa-33345	91	22	six	six	NUM
cjfa-33345	91	23	banks	bank	NOUN
cjfa-33345	91	24	have	have	AUX
cjfa-33345	91	25	a	a	DET
cjfa-33345	91	26	percentage	percentage	NOUN
cjfa-33345	91	27	of	of	ADP
cjfa-33345	91	28	managerial	managerial	ADJ
cjfa-33345	91	29	ownership	ownership	NOUN
cjfa-33345	91	30	that	that	PRON
cjfa-33345	91	31	exceeds	exceed	VERB
cjfa-33345	91	32	5	5	NUM
cjfa-33345	91	33	%	%	NOUN
cjfa-33345	91	34	)	)	PUNCT
cjfa-33345	91	35	.	.	PUNCT
cjfa-33345	92	1	the	the	DET
cjfa-33345	92	2	average	average	NOUN
cjfa-33345	92	3	of	of	ADP
cjfa-33345	92	4	2.858	2.858	NUM
cjfa-33345	92	5	indicates	indicate	VERB
cjfa-33345	92	6	a	a	DET
cjfa-33345	92	7	significant	significant	ADJ
cjfa-33345	92	8	presence	presence	NOUN
cjfa-33345	92	9	of	of	ADP
cjfa-33345	92	10	outside	outside	ADJ
cjfa-33345	92	11	directors	director	NOUN
cjfa-33345	92	12	in	in	ADP
cjfa-33345	92	13	banking	banking	NOUN
cjfa-33345	92	14	firms	firm	NOUN
cjfa-33345	92	15	in	in	ADP
cjfa-33345	92	16	our	our	PRON
cjfa-33345	92	17	sample	sample	NOUN
cjfa-33345	92	18	.	.	PUNCT
cjfa-33345	93	1	all	all	DET
cjfa-33345	93	2	the	the	DET
cjfa-33345	93	3	banking	banking	NOUN
cjfa-33345	93	4	firms	firm	NOUN
cjfa-33345	93	5	in	in	ADP
cjfa-33345	93	6	our	our	PRON
cjfa-33345	93	7	sample	sample	NOUN
cjfa-33345	93	8	have	have	VERB
cjfa-33345	93	9	a	a	DET
cjfa-33345	93	10	remuneration	remuneration	NOUN
cjfa-33345	93	11	system	system	NOUN
cjfa-33345	93	12	that	that	PRON
cjfa-33345	93	13	is	be	AUX
cjfa-33345	93	14	interlinked	interlink	VERB
cjfa-33345	93	15	with	with	ADP
cjfa-33345	93	16	the	the	DET
cjfa-33345	93	17	stock	stock	NOUN
cjfa-33345	93	18	market	market	NOUN
cjfa-33345	93	19	performance	performance	NOUN
cjfa-33345	93	20	with	with	ADP
cjfa-33345	93	21	an	an	DET
cjfa-33345	93	22	average	average	NOUN
cjfa-33345	93	23	of	of	ADP
cjfa-33345	93	24	2.39	2.39	NUM
cjfa-33345	93	25	%	%	NOUN
cjfa-33345	93	26	.	.	PUNCT
cjfa-33345	94	1	corporate	corporate	ADJ
cjfa-33345	94	2	governance	governance	NOUN
cjfa-33345	94	3	and	and	CCONJ
cjfa-33345	94	4	post	post	ADJ
cjfa-33345	94	5	-	-	ADJ
cjfa-33345	94	6	merger	merger	ADJ
cjfa-33345	94	7	performance	performance	NOUN
cjfa-33345	94	8	…	…	PUNCT
cjfa-33345	94	9	105	105	NUM
cjfa-33345	94	10	results	result	NOUN
cjfa-33345	94	11	and	and	CCONJ
cjfa-33345	94	12	discussion	discussion	NOUN
cjfa-33345	94	13	deficit	deficit	NOUN
cjfa-33345	94	14	ratio	ratio	NOUN
cjfa-33345	94	15	:	:	PUNCT
cjfa-33345	94	16	study	study	NOUN
cjfa-33345	94	17	and	and	CCONJ
cjfa-33345	94	18	interpretation	interpretation	VERB
cjfa-33345	94	19	the	the	DET
cjfa-33345	94	20	deficit	deficit	NOUN
cjfa-33345	94	21	ratio	ratio	NOUN
cjfa-33345	94	22	is	be	AUX
cjfa-33345	94	23	a	a	DET
cjfa-33345	94	24	variable	variable	NOUN
cjfa-33345	94	25	that	that	PRON
cjfa-33345	94	26	can	can	AUX
cjfa-33345	94	27	measure	measure	VERB
cjfa-33345	94	28	the	the	DET
cjfa-33345	94	29	performance	performance	NOUN
cjfa-33345	94	30	arising	arise	VERB
cjfa-33345	94	31	from	from	ADP
cjfa-33345	94	32	bank	bank	NOUN
cjfa-33345	94	33	mergers	merger	NOUN
cjfa-33345	94	34	.	.	PUNCT
cjfa-33345	95	1	in	in	ADP
cjfa-33345	95	2	the	the	DET
cjfa-33345	95	3	following	follow	VERB
cjfa-33345	95	4	research	research	NOUN
cjfa-33345	95	5	,	,	PUNCT
cjfa-33345	95	6	we	we	PRON
cjfa-33345	95	7	have	have	AUX
cjfa-33345	95	8	adopted	adopt	VERB
cjfa-33345	95	9	this	this	DET
cjfa-33345	95	10	ratio	ratio	NOUN
cjfa-33345	95	11	mainly	mainly	ADV
cjfa-33345	95	12	in	in	ADP
cjfa-33345	95	13	order	order	NOUN
cjfa-33345	95	14	to	to	PART
cjfa-33345	95	15	study	study	VERB
cjfa-33345	95	16	the	the	DET
cjfa-33345	95	17	influence	influence	NOUN
cjfa-33345	95	18	of	of	ADP
cjfa-33345	95	19	various	various	ADJ
cjfa-33345	95	20	governance	governance	NOUN
cjfa-33345	95	21	variables	variable	NOUN
cjfa-33345	95	22	on	on	ADP
cjfa-33345	95	23	the	the	DET
cjfa-33345	95	24	banking	banking	NOUN
cjfa-33345	95	25	performance	performance	NOUN
cjfa-33345	95	26	after	after	ADP
cjfa-33345	95	27	mergers	merger	NOUN
cjfa-33345	95	28	.	.	PUNCT
cjfa-33345	96	1	based	base	VERB
cjfa-33345	96	2	on	on	ADP
cjfa-33345	96	3	the	the	DET
cjfa-33345	96	4	study	study	NOUN
cjfa-33345	96	5	of	of	ADP
cjfa-33345	96	6	hughes	hughes	PROPN
cjfa-33345	96	7	,	,	PUNCT
cjfa-33345	96	8	lang	lang	PROPN
cjfa-33345	96	9	,	,	PUNCT
cjfa-33345	96	10	mester	mester	PROPN
cjfa-33345	96	11	,	,	PUNCT
cjfa-33345	96	12	moon	moon	NOUN
cjfa-33345	96	13	and	and	CCONJ
cjfa-33345	96	14	pagano	pagano	PROPN
cjfa-33345	96	15	(	(	PUNCT
cjfa-33345	96	16	2002	2002	NUM
cjfa-33345	96	17	)	)	PUNCT
cjfa-33345	96	18	,	,	PUNCT
cjfa-33345	96	19	the	the	DET
cjfa-33345	96	20	deficit	deficit	NOUN
cjfa-33345	96	21	ratio	ratio	NOUN
cjfa-33345	96	22	specification	specification	NOUN
cjfa-33345	96	23	is	be	AUX
cjfa-33345	96	24	as	as	SCONJ
cjfa-33345	96	25	follows	follow	VERB
cjfa-33345	96	26	:	:	PUNCT
cjfa-33345	96	27	deficit	deficit	NOUN
cjfa-33345	96	28	ratio	ratio	NOUN
cjfa-33345	96	29	=	=	SYM
cjfa-33345	96	30	α0	α0	ADJ
cjfa-33345	96	31	+	+	CCONJ
cjfa-33345	96	32	α1	α1	PROPN
cjfa-33345	96	33	internals	internal	NOUN
cjfa-33345	96	34	+	+	X
cjfa-33345	96	35	α2	α2	ADJ
cjfa-33345	96	36	(	(	PUNCT
cjfa-33345	96	37	internals)2	internals)2	NOUN
cjfa-33345	96	38	+	+	CCONJ
cjfa-33345	96	39	α3	α3	ADJ
cjfa-33345	96	40	externals	external	NOUN
cjfa-33345	96	41	+	+	CCONJ
cjfa-33345	96	42	α4	α4	NOUN
cjfa-33345	96	43	(	(	PUNCT
cjfa-33345	96	44	externals	external	NOUN
cjfa-33345	96	45	 	 	SPACE
cjfa-33345	96	46	)	)	PUNCT
cjfa-33345	96	47	2	2	NUM
cjfa-33345	97	1	+	+	CCONJ
cjfa-33345	97	2	α5	α5	NUM
cjfa-33345	97	3	log	log	NOUN
cjfa-33345	97	4	board	board	NOUN
cjfa-33345	97	5	size	size	NOUN
cjfa-33345	97	6	+	+	CCONJ
cjfa-33345	97	7	α6	α6	NOUN
cjfa-33345	97	8	log	log	NOUN
cjfa-33345	97	9	(	(	PUNCT
cjfa-33345	97	10	audit	audit	NOUN
cjfa-33345	97	11	committee	committee	NOUN
cjfa-33345	97	12	size	size	NOUN
cjfa-33345	97	13	)	)	PUNCT
cjfa-33345	98	1	+	+	CCONJ
cjfa-33345	98	2	α7	α7	NOUN
cjfa-33345	98	3	log(audit	log(audit	NOUN
cjfa-33345	98	4	committee	committee	NOUN
cjfa-33345	98	5	meetings	meeting	NOUN
cjfa-33345	98	6	)	)	PUNCT
cjfa-33345	99	1	+	+	NUM
cjfa-33345	99	2	α8	α8	NOUN
cjfa-33345	99	3	options	option	NOUN
cjfa-33345	99	4	granted+	granted+	ADP
cjfa-33345	99	5	α9	α9	NOUN
cjfa-33345	99	6	(	(	PUNCT
cjfa-33345	99	7	options	option	NOUN
cjfa-33345	99	8	granted)2	granted)2	X
cjfa-33345	99	9	+	+	CCONJ
cjfa-33345	99	10	α10	α10	NOUN
cjfa-33345	99	11	(	(	PUNCT
cjfa-33345	99	12	internals*options	internals*option	NOUN
cjfa-33345	99	13	granted	grant	VERB
cjfa-33345	99	14	)	)	PUNCT
cjfa-33345	99	15	more	more	ADV
cjfa-33345	99	16	precisely	precisely	ADV
cjfa-33345	99	17	,	,	PUNCT
cjfa-33345	99	18	the	the	DET
cjfa-33345	99	19	firm	firm	ADJ
cjfa-33345	99	20	performance	performance	NOUN
cjfa-33345	99	21	is	be	AUX
cjfa-33345	99	22	calculated	calculate	VERB
cjfa-33345	99	23	through	through	ADP
cjfa-33345	99	24	the	the	DET
cjfa-33345	99	25	deficit	deficit	NOUN
cjfa-33345	99	26	ratio	ratio	NOUN
cjfa-33345	99	27	which	which	PRON
cjfa-33345	99	28	reflects	reflect	VERB
cjfa-33345	99	29	the	the	DET
cjfa-33345	99	30	difference	difference	NOUN
cjfa-33345	99	31	between	between	ADP
cjfa-33345	99	32	boundary	boundary	ADJ
cjfa-33345	99	33	value	value	NOUN
cjfa-33345	99	34	and	and	CCONJ
cjfa-33345	99	35	market	market	NOUN
cjfa-33345	99	36	value	value	NOUN
cjfa-33345	99	37	.	.	PUNCT
cjfa-33345	100	1	numerically	numerically	ADV
cjfa-33345	100	2	,	,	PUNCT
cjfa-33345	100	3	the	the	DET
cjfa-33345	100	4	model	model	NOUN
cjfa-33345	100	5	is	be	AUX
cjfa-33345	100	6	formulated	formulate	VERB
cjfa-33345	100	7	as	as	SCONJ
cjfa-33345	100	8	follows	follow	VERB
cjfa-33345	100	9	:	:	PUNCT
cjfa-33345	100	10	deficit	deficit	NOUN
cjfa-33345	100	11	ratio	ratio	NOUN
cjfa-33345	100	12	of	of	ADP
cjfa-33345	100	13	bank	bank	NOUN
cjfa-33345	101	1	i	i	PRON
cjfa-33345	101	2	=	=	PUNCT
cjfa-33345	101	3	the	the	DET
cjfa-33345	101	4	value	value	NOUN
cjfa-33345	101	5	of	of	ADP
cjfa-33345	101	6	the	the	DET
cjfa-33345	101	7	deficit	deficit	NOUN
cjfa-33345	101	8	of	of	ADP
cjfa-33345	101	9	the	the	DET
cjfa-33345	101	10	bank	bank	NOUN
cjfa-33345	101	11	i	i	PROPN
cjfa-33345	101	12	/	/	SYM
cjfa-33345	101	13	market	market	NOUN
cjfa-33345	101	14	value	value	NOUN
cjfa-33345	101	15	achieved	achieve	VERB
cjfa-33345	101	16	of	of	ADP
cjfa-33345	101	17	bank	bank	NOUN
cjfa-33345	101	18	i	i	PRON
cjfa-33345	101	19	with	with	ADP
cjfa-33345	101	20	,	,	PUNCT
cjfa-33345	101	21	the	the	DET
cjfa-33345	101	22	value	value	NOUN
cjfa-33345	101	23	of	of	ADP
cjfa-33345	101	24	the	the	DET
cjfa-33345	101	25	deficit	deficit	NOUN
cjfa-33345	101	26	of	of	ADP
cjfa-33345	101	27	the	the	DET
cjfa-33345	101	28	bank	bank	NOUN
cjfa-33345	102	1	i	i	NOUN
cjfa-33345	102	2	=	=	PUNCT
cjfa-33345	102	3	boundary	boundary	PROPN
cjfa-33345	102	4	value1	value1	PROPN
cjfa-33345	102	5	–	–	PUNCT
cjfa-33345	102	6	market	market	NOUN
cjfa-33345	102	7	value	value	NOUN
cjfa-33345	102	8	achieved	achieve	VERB
cjfa-33345	102	9	for	for	ADP
cjfa-33345	102	10	this	this	DET
cjfa-33345	102	11	purpose	purpose	NOUN
cjfa-33345	102	12	,	,	PUNCT
cjfa-33345	102	13	we	we	PRON
cjfa-33345	102	14	carried	carry	VERB
cjfa-33345	102	15	out	out	ADP
cjfa-33345	102	16	a	a	DET
cjfa-33345	102	17	linear	linear	ADJ
cjfa-33345	102	18	least	least	ADJ
cjfa-33345	102	19	squares	square	NOUN
cjfa-33345	102	20	regression	regression	NOUN
cjfa-33345	102	21	that	that	PRON
cjfa-33345	102	22	delivered	deliver	VERB
cjfa-33345	102	23	the	the	DET
cjfa-33345	102	24	results	result	NOUN
cjfa-33345	102	25	shown	show	VERB
cjfa-33345	102	26	in	in	ADP
cjfa-33345	102	27	table	table	NOUN
cjfa-33345	102	28	2	2	NUM
cjfa-33345	102	29	.	.	NOUN
cjfa-33345	102	30	1	1	NUM
cjfa-33345	102	31	 	 	SPACE
cjfa-33345	102	32	the	the	DET
cjfa-33345	102	33	boundary	boundary	ADJ
cjfa-33345	102	34	value	value	NOUN
cjfa-33345	102	35	is	be	AUX
cjfa-33345	102	36	measured	measure	VERB
cjfa-33345	102	37	by	by	ADP
cjfa-33345	102	38	the	the	DET
cjfa-33345	102	39	technique	technique	NOUN
cjfa-33345	102	40	of	of	ADP
cjfa-33345	102	41	stochastic	stochastic	ADJ
cjfa-33345	102	42	frontier	frontier	NOUN
cjfa-33345	102	43	(	(	PUNCT
cjfa-33345	102	44	jondrow	jondrow	NOUN
cjfa-33345	102	45	,	,	PUNCT
cjfa-33345	102	46	lovell	lovell	PROPN
cjfa-33345	102	47	,	,	PUNCT
cjfa-33345	102	48	materov	materov	PROPN
cjfa-33345	102	49	&	&	CCONJ
cjfa-33345	102	50	shmidt	shmidt	PROPN
cjfa-33345	102	51	,	,	PUNCT
cjfa-33345	102	52	1982	1982	NUM
cjfa-33345	102	53	)	)	PUNCT
cjfa-33345	102	54	.	.	PUNCT
cjfa-33345	103	1	amira	amira	PROPN
cjfa-33345	103	2	neffati	neffati	PROPN
cjfa-33345	103	3	,	,	PUNCT
cjfa-33345	103	4	wided	wide	VERB
cjfa-33345	103	5	khiari	khiari	PROPN
cjfa-33345	103	6	,	,	PUNCT
cjfa-33345	103	7	azhaar	azhaar	PROPN
cjfa-33345	103	8	lajmi106	lajmi106	PROPN
cjfa-33345	103	9	table	table	NOUN
cjfa-33345	103	10	2	2	NUM
cjfa-33345	103	11	.	.	PUNCT
cjfa-33345	103	12	results	result	NOUN
cjfa-33345	103	13	from	from	ADP
cjfa-33345	103	14	deficit	deficit	NOUN
cjfa-33345	103	15	ratio	ratio	NOUN
cjfa-33345	103	16	independent	independent	ADJ
cjfa-33345	103	17	variables	variable	NOUN
cjfa-33345	103	18	dependent	dependent	ADJ
cjfa-33345	103	19	variables	variable	NOUN
cjfa-33345	103	20	coefficient	coefficient	VERB
cjfa-33345	103	21	t	t	PROPN
cjfa-33345	103	22	-	-	PUNCT
cjfa-33345	103	23	statistic	statistic	NOUN
cjfa-33345	103	24	internals	internal	NOUN
cjfa-33345	103	25	-0.694	-0.694	PUNCT
cjfa-33345	103	26	-3.215	-3.215	VERB
cjfa-33345	103	27	*	*	PUNCT
cjfa-33345	103	28	*	*	PUNCT
cjfa-33345	103	29	*	*	PUNCT
cjfa-33345	103	30	(	(	PUNCT
cjfa-33345	103	31	internals)2	internals)2	NOUN
cjfa-33345	103	32	-0.264	-0.264	PUNCT
cjfa-33345	103	33	-1.491	-1.491	PUNCT
cjfa-33345	103	34	externals	external	NOUN
cjfa-33345	103	35	-0.214	-0.214	PUNCT
cjfa-33345	103	36	-0.816	-0.816	INTJ
cjfa-33345	103	37	(	(	PUNCT
cjfa-33345	103	38	externals)2	externals)2	NOUN
cjfa-33345	103	39	-0.323	-0.323	PUNCT
cjfa-33345	103	40	-3.295	-3.295	NOUN
cjfa-33345	103	41	*	*	PUNCT
cjfa-33345	103	42	*	*	PUNCT
cjfa-33345	103	43	*	*	NOUN
cjfa-33345	103	44	options	option	NOUN
cjfa-33345	103	45	granted	grant	VERB
cjfa-33345	103	46	-0.338	-0.338	VERB
cjfa-33345	103	47	-2.015	-2.015	PUNCT
cjfa-33345	103	48	*	*	NOUN
cjfa-33345	103	49	*	*	PUNCT
cjfa-33345	103	50	(	(	PUNCT
cjfa-33345	103	51	options	option	NOUN
cjfa-33345	103	52	granted)2	granted)2	NOUN
cjfa-33345	103	53	-0.082	-0.082	PUNCT
cjfa-33345	103	54	-0.458	-0.458	NOUN
cjfa-33345	103	55	(	(	PUNCT
cjfa-33345	103	56	internals*options	internals*option	NOUN
cjfa-33345	103	57	granted	grant	VERB
cjfa-33345	103	58	)	)	PUNCT
cjfa-33345	103	59	-0.785	-0.785	PUNCT
cjfa-33345	104	1	-3.802	-3.802	X
cjfa-33345	104	2	*	*	PUNCT
cjfa-33345	104	3	*	*	PUNCT
cjfa-33345	104	4	*	*	PUNCT
cjfa-33345	104	5	board	board	NOUN
cjfa-33345	104	6	size	size	NOUN
cjfa-33345	104	7	-0.719	-0.719	X
cjfa-33345	104	8	-2.156	-2.156	PROPN
cjfa-33345	104	9	*	*	PUNCT
cjfa-33345	104	10	*	*	PUNCT
cjfa-33345	104	11	audit	audit	PROPN
cjfa-33345	104	12	committee	committee	NOUN
cjfa-33345	104	13	size	size	NOUN
cjfa-33345	104	14	-0.814	-0.814	PUNCT
cjfa-33345	104	15	-2.017	-2.017	PUNCT
cjfa-33345	104	16	*	*	NOUN
cjfa-33345	104	17	*	*	PUNCT
cjfa-33345	104	18	audit	audit	NOUN
cjfa-33345	104	19	committee	committee	NOUN
cjfa-33345	104	20	meetings	meeting	NOUN
cjfa-33345	104	21	-0.579	-0.579	PUNCT
cjfa-33345	104	22	-2.401	-2.401	PUNCT
cjfa-33345	104	23	*	*	NOUN
cjfa-33345	104	24	*	*	PROPN
cjfa-33345	104	25	r2	r2	PROPN
cjfa-33345	104	26	0.590	0.590	NUM
cjfa-33345	104	27	adjusted	adjust	VERB
cjfa-33345	104	28	r2	r2	NOUN
cjfa-33345	104	29	0.489	0.489	NUM
cjfa-33345	105	1	*	*	PUNCT
cjfa-33345	105	2	*	*	PUNCT
cjfa-33345	105	3	significant	significant	ADJ
cjfa-33345	105	4	at	at	ADP
cjfa-33345	105	5	5	5	NUM
cjfa-33345	105	6	%	%	NOUN
cjfa-33345	105	7	level	level	NOUN
cjfa-33345	105	8	of	of	ADP
cjfa-33345	105	9	confidence	confidence	NOUN
cjfa-33345	105	10	,	,	PUNCT
cjfa-33345	105	11	*	*	PUNCT
cjfa-33345	105	12	*	*	PUNCT
cjfa-33345	105	13	*	*	PUNCT
cjfa-33345	105	14	significant	significant	ADJ
cjfa-33345	105	15	at	at	ADP
cjfa-33345	105	16	1	1	NUM
cjfa-33345	105	17	%	%	NOUN
cjfa-33345	105	18	level	level	NOUN
cjfa-33345	105	19	of	of	ADP
cjfa-33345	105	20	confidence	confidence	NOUN
cjfa-33345	105	21	.	.	PUNCT
cjfa-33345	106	1	s	s	PART
cjfa-33345	106	2	o	o	X
cjfa-33345	106	3	u	u	NOUN
cjfa-33345	106	4	r	r	NOUN
cjfa-33345	106	5	c	c	NOUN
cjfa-33345	106	6	e	e	NOUN
cjfa-33345	106	7	:	:	PUNCT
cjfa-33345	106	8	own	own	ADJ
cjfa-33345	106	9	study	study	NOUN
cjfa-33345	106	10	.	.	PUNCT
cjfa-33345	107	1	the	the	DET
cjfa-33345	107	2	results	result	NOUN
cjfa-33345	107	3	of	of	ADP
cjfa-33345	107	4	the	the	DET
cjfa-33345	107	5	regression	regression	NOUN
cjfa-33345	107	6	indicate	indicate	VERB
cjfa-33345	107	7	that	that	SCONJ
cjfa-33345	107	8	the	the	DET
cjfa-33345	107	9	coefficient	coefficient	NOUN
cjfa-33345	107	10	of	of	ADP
cjfa-33345	107	11	insider	insider	NOUN
cjfa-33345	107	12	ownership	ownership	NOUN
cjfa-33345	107	13	related	relate	VERB
cjfa-33345	107	14	to	to	ADP
cjfa-33345	107	15	financial	financial	ADJ
cjfa-33345	107	16	performance	performance	NOUN
cjfa-33345	107	17	is	be	AUX
cjfa-33345	107	18	negative	negative	ADJ
cjfa-33345	107	19	and	and	CCONJ
cjfa-33345	107	20	significant	significant	ADJ
cjfa-33345	107	21	at	at	ADP
cjfa-33345	107	22	a	a	DET
cjfa-33345	107	23	confidence	confidence	NOUN
cjfa-33345	107	24	level	level	NOUN
cjfa-33345	107	25	of	of	ADP
cjfa-33345	107	26	10	10	NUM
cjfa-33345	107	27	%	%	NOUN
cjfa-33345	107	28	as	as	SCONJ
cjfa-33345	107	29	measured	measure	VERB
cjfa-33345	107	30	by	by	ADP
cjfa-33345	107	31	the	the	DET
cjfa-33345	107	32	deficit	deficit	NOUN
cjfa-33345	107	33	ratio	ratio	NOUN
cjfa-33345	107	34	.	.	PUNCT
cjfa-33345	108	1	thus	thus	ADV
cjfa-33345	108	2	,	,	PUNCT
cjfa-33345	108	3	increasing	increase	VERB
cjfa-33345	108	4	the	the	DET
cjfa-33345	108	5	fraction	fraction	NOUN
cjfa-33345	108	6	of	of	ADP
cjfa-33345	108	7	shares	share	NOUN
cjfa-33345	108	8	held	hold	VERB
cjfa-33345	108	9	by	by	ADP
cjfa-33345	108	10	insiders	insider	NOUN
cjfa-33345	108	11	reduces	reduce	VERB
cjfa-33345	108	12	the	the	DET
cjfa-33345	108	13	deficit	deficit	NOUN
cjfa-33345	108	14	ratio	ratio	NOUN
cjfa-33345	108	15	.	.	PUNCT
cjfa-33345	109	1	this	this	PRON
cjfa-33345	109	2	is	be	AUX
cjfa-33345	109	3	explained	explain	VERB
cjfa-33345	109	4	by	by	ADP
cjfa-33345	109	5	the	the	DET
cjfa-33345	109	6	decrease	decrease	NOUN
cjfa-33345	109	7	of	of	ADP
cjfa-33345	109	8	the	the	DET
cjfa-33345	109	9	gap	gap	NOUN
cjfa-33345	109	10	between	between	ADP
cjfa-33345	109	11	the	the	DET
cjfa-33345	109	12	value	value	NOUN
cjfa-33345	109	13	on	on	ADP
cjfa-33345	109	14	the	the	DET
cjfa-33345	109	15	efficient	efficient	ADJ
cjfa-33345	109	16	frontier	frontier	NOUN
cjfa-33345	109	17	and	and	CCONJ
cjfa-33345	109	18	the	the	DET
cjfa-33345	109	19	market	market	NOUN
cjfa-33345	109	20	value	value	NOUN
cjfa-33345	109	21	which	which	PRON
cjfa-33345	109	22	therefore	therefore	ADV
cjfa-33345	109	23	improves	improve	VERB
cjfa-33345	109	24	the	the	DET
cjfa-33345	109	25	financial	financial	ADJ
cjfa-33345	109	26	performance	performance	NOUN
cjfa-33345	109	27	of	of	ADP
cjfa-33345	109	28	the	the	DET
cjfa-33345	109	29	bank	bank	NOUN
cjfa-33345	109	30	.	.	PUNCT
cjfa-33345	110	1	given	give	VERB
cjfa-33345	110	2	these	these	DET
cjfa-33345	110	3	statistics	statistic	NOUN
cjfa-33345	110	4	,	,	PUNCT
cjfa-33345	110	5	the	the	DET
cjfa-33345	110	6	output	output	NOUN
cjfa-33345	110	7	of	of	ADP
cjfa-33345	110	8	the	the	DET
cjfa-33345	110	9	regression	regression	NOUN
cjfa-33345	110	10	analysis	analysis	NOUN
cjfa-33345	110	11	found	find	VERB
cjfa-33345	110	12	at	at	ADP
cjfa-33345	110	13	the	the	DET
cjfa-33345	110	14	variable	variable	ADJ
cjfa-33345	110	15	managerial	managerial	ADJ
cjfa-33345	110	16	ownership	ownership	NOUN
cjfa-33345	110	17	seems	seem	VERB
cjfa-33345	110	18	quite	quite	ADV
cjfa-33345	110	19	logical	logical	ADJ
cjfa-33345	110	20	considering	consider	VERB
cjfa-33345	110	21	that	that	SCONJ
cjfa-33345	110	22	one	one	NOUN
cjfa-33345	110	23	is	be	AUX
cjfa-33345	110	24	in	in	ADP
cjfa-33345	110	25	a	a	DET
cjfa-33345	110	26	range	range	NOUN
cjfa-33345	110	27	of	of	ADP
cjfa-33345	110	28	alignment	alignment	NOUN
cjfa-33345	110	29	[	[	X
cjfa-33345	110	30	0%-5	0%-5	NOUN
cjfa-33345	110	31	%	%	NOUN
cjfa-33345	110	32	]	]	PUNCT
cjfa-33345	110	33	as	as	SCONJ
cjfa-33345	110	34	presented	present	VERB
cjfa-33345	110	35	by	by	ADP
cjfa-33345	110	36	morck	morck	PROPN
cjfa-33345	110	37	,	,	PUNCT
cjfa-33345	110	38	shleifer	shleifer	NOUN
cjfa-33345	110	39	and	and	CCONJ
cjfa-33345	110	40	vishney	vishney	NOUN
cjfa-33345	110	41	(	(	PUNCT
cjfa-33345	110	42	1988	1988	NUM
cjfa-33345	110	43	)	)	PUNCT
cjfa-33345	110	44	.	.	PUNCT
cjfa-33345	111	1	in	in	ADP
cjfa-33345	111	2	this	this	DET
cjfa-33345	111	3	interval	interval	NOUN
cjfa-33345	111	4	,	,	PUNCT
cjfa-33345	111	5	leaders	leader	NOUN
cjfa-33345	111	6	will	will	AUX
cjfa-33345	111	7	proceed	proceed	VERB
cjfa-33345	111	8	according	accord	VERB
cjfa-33345	111	9	to	to	ADP
cjfa-33345	111	10	the	the	DET
cjfa-33345	111	11	interests	interest	NOUN
cjfa-33345	111	12	of	of	ADP
cjfa-33345	111	13	the	the	DET
cjfa-33345	111	14	shareholders	shareholder	NOUN
cjfa-33345	111	15	and	and	CCONJ
cjfa-33345	111	16	will	will	AUX
cjfa-33345	111	17	normally	normally	ADV
cjfa-33345	111	18	initiate	initiate	VERB
cjfa-33345	111	19	mergers	merger	NOUN
cjfa-33345	111	20	that	that	PRON
cjfa-33345	111	21	increase	increase	VERB
cjfa-33345	111	22	the	the	DET
cjfa-33345	111	23	firm	firm	ADJ
cjfa-33345	111	24	value	value	NOUN
cjfa-33345	111	25	.	.	PUNCT
cjfa-33345	112	1	the	the	DET
cjfa-33345	112	2	study	study	NOUN
cjfa-33345	112	3	of	of	ADP
cjfa-33345	112	4	the	the	DET
cjfa-33345	112	5	interrelationship	interrelationship	NOUN
cjfa-33345	112	6	between	between	ADP
cjfa-33345	112	7	the	the	DET
cjfa-33345	112	8	percentage	percentage	NOUN
cjfa-33345	112	9	of	of	ADP
cjfa-33345	112	10	stock	stock	NOUN
cjfa-33345	112	11	options	option	NOUN
cjfa-33345	112	12	granted	grant	VERB
cjfa-33345	112	13	to	to	ADP
cjfa-33345	112	14	managers	manager	NOUN
cjfa-33345	112	15	and	and	CCONJ
cjfa-33345	112	16	the	the	DET
cjfa-33345	112	17	percentage	percentage	NOUN
cjfa-33345	112	18	of	of	ADP
cjfa-33345	112	19	shares	share	NOUN
cjfa-33345	112	20	held	hold	VERB
cjfa-33345	112	21	by	by	ADP
cjfa-33345	112	22	managers	manager	NOUN
cjfa-33345	112	23	generates	generate	VERB
cjfa-33345	112	24	a	a	DET
cjfa-33345	112	25	significant	significant	ADJ
cjfa-33345	112	26	and	and	CCONJ
cjfa-33345	112	27	negative	negative	ADJ
cjfa-33345	112	28	coefficient	coefficient	NOUN
cjfa-33345	112	29	at	at	ADP
cjfa-33345	112	30	a	a	DET
cjfa-33345	112	31	confidence	confidence	NOUN
cjfa-33345	112	32	level	level	NOUN
cjfa-33345	112	33	of	of	ADP
cjfa-33345	112	34	1	1	NUM
cjfa-33345	112	35	%	%	NOUN
cjfa-33345	112	36	.	.	PUNCT
cjfa-33345	113	1	these	these	DET
cjfa-33345	113	2	results	result	NOUN
cjfa-33345	113	3	show	show	VERB
cjfa-33345	113	4	that	that	SCONJ
cjfa-33345	113	5	increasing	increase	VERB
cjfa-33345	113	6	the	the	DET
cjfa-33345	113	7	percentage	percentage	NOUN
cjfa-33345	113	8	of	of	ADP
cjfa-33345	113	9	managerial	managerial	ADJ
cjfa-33345	113	10	ownership	ownership	NOUN
cjfa-33345	113	11	and	and	CCONJ
cjfa-33345	113	12	the	the	DET
cjfa-33345	113	13	value	value	NOUN
cjfa-33345	113	14	of	of	ADP
cjfa-33345	113	15	corporate	corporate	ADJ
cjfa-33345	113	16	governance	governance	NOUN
cjfa-33345	113	17	and	and	CCONJ
cjfa-33345	113	18	post	post	ADJ
cjfa-33345	113	19	-	-	ADJ
cjfa-33345	113	20	merger	merger	ADJ
cjfa-33345	113	21	performance	performance	NOUN
cjfa-33345	113	22	…	…	PUNCT
cjfa-33345	113	23	107	107	NUM
cjfa-33345	113	24	stock	stock	NOUN
cjfa-33345	113	25	options	option	NOUN
cjfa-33345	113	26	decrease	decrease	VERB
cjfa-33345	113	27	the	the	DET
cjfa-33345	113	28	ratio	ratio	NOUN
cjfa-33345	113	29	of	of	ADP
cjfa-33345	113	30	deficit	deficit	NOUN
cjfa-33345	113	31	and	and	CCONJ
cjfa-33345	113	32	consequently	consequently	ADV
cjfa-33345	113	33	improves	improve	VERB
cjfa-33345	113	34	the	the	DET
cjfa-33345	113	35	performance	performance	NOUN
cjfa-33345	113	36	of	of	ADP
cjfa-33345	113	37	banks	bank	NOUN
cjfa-33345	113	38	.	.	PUNCT
cjfa-33345	114	1	this	this	PRON
cjfa-33345	114	2	confirms	confirm	VERB
cjfa-33345	114	3	the	the	DET
cjfa-33345	114	4	results	result	NOUN
cjfa-33345	114	5	found	find	VERB
cjfa-33345	114	6	when	when	SCONJ
cjfa-33345	114	7	comparing	compare	VERB
cjfa-33345	114	8	the	the	DET
cjfa-33345	114	9	relationship	relationship	NOUN
cjfa-33345	114	10	between	between	ADP
cjfa-33345	114	11	the	the	DET
cjfa-33345	114	12	stock	stock	NOUN
cjfa-33345	114	13	options	option	NOUN
cjfa-33345	114	14	and	and	CCONJ
cjfa-33345	114	15	performance	performance	NOUN
cjfa-33345	114	16	.	.	PUNCT
cjfa-33345	115	1	indeed	indeed	ADV
cjfa-33345	115	2	,	,	PUNCT
cjfa-33345	115	3	the	the	DET
cjfa-33345	115	4	average	average	NOUN
cjfa-33345	115	5	of	of	ADP
cjfa-33345	115	6	managerial	managerial	ADJ
cjfa-33345	115	7	ownership	ownership	NOUN
cjfa-33345	115	8	in	in	ADP
cjfa-33345	115	9	our	our	PRON
cjfa-33345	115	10	sample	sample	NOUN
cjfa-33345	115	11	is	be	AUX
cjfa-33345	115	12	3.0619	3.0619	NUM
cjfa-33345	115	13	and	and	CCONJ
cjfa-33345	115	14	that	that	PRON
cjfa-33345	115	15	may	may	AUX
cjfa-33345	115	16	explain	explain	VERB
cjfa-33345	115	17	the	the	DET
cjfa-33345	115	18	results	result	NOUN
cjfa-33345	115	19	found	find	VERB
cjfa-33345	115	20	at	at	ADP
cjfa-33345	115	21	this	this	DET
cjfa-33345	115	22	level	level	NOUN
cjfa-33345	115	23	.	.	PUNCT
cjfa-33345	116	1	a	a	DET
cjfa-33345	116	2	small	small	ADJ
cjfa-33345	116	3	percentage	percentage	NOUN
cjfa-33345	116	4	of	of	ADP
cjfa-33345	116	5	managerial	managerial	ADJ
cjfa-33345	116	6	ownership	ownership	NOUN
cjfa-33345	116	7	aligns	align	VERB
cjfa-33345	116	8	the	the	DET
cjfa-33345	116	9	interests	interest	NOUN
cjfa-33345	116	10	of	of	ADP
cjfa-33345	116	11	managers	manager	NOUN
cjfa-33345	116	12	with	with	ADP
cjfa-33345	116	13	those	those	PRON
cjfa-33345	116	14	of	of	ADP
cjfa-33345	116	15	shareholders	shareholder	NOUN
cjfa-33345	116	16	and	and	CCONJ
cjfa-33345	116	17	reduces	reduce	VERB
cjfa-33345	116	18	agency	agency	NOUN
cjfa-33345	116	19	costs	cost	NOUN
cjfa-33345	116	20	for	for	ADP
cjfa-33345	116	21	firms	firm	NOUN
cjfa-33345	116	22	(	(	PUNCT
cjfa-33345	116	23	hermalin	hermalin	NOUN
cjfa-33345	116	24	&	&	CCONJ
cjfa-33345	116	25	weisbach	weisbach	NOUN
cjfa-33345	116	26	,	,	PUNCT
cjfa-33345	116	27	1988	1988	NUM
cjfa-33345	116	28	;	;	PUNCT
cjfa-33345	116	29	morck	morck	PROPN
cjfa-33345	116	30	et	et	PROPN
cjfa-33345	116	31	al	al	PROPN
cjfa-33345	116	32	.	.	PROPN
cjfa-33345	116	33	,	,	PUNCT
cjfa-33345	116	34	1988	1988	NUM
cjfa-33345	116	35	)	)	PUNCT
cjfa-33345	116	36	.	.	PUNCT
cjfa-33345	117	1	on	on	ADP
cjfa-33345	117	2	one	one	NUM
cjfa-33345	117	3	hand	hand	NOUN
cjfa-33345	117	4	,	,	PUNCT
cjfa-33345	117	5	the	the	DET
cjfa-33345	117	6	results	result	NOUN
cjfa-33345	117	7	of	of	ADP
cjfa-33345	117	8	this	this	DET
cjfa-33345	117	9	study	study	NOUN
cjfa-33345	117	10	are	be	AUX
cjfa-33345	117	11	similar	similar	ADJ
cjfa-33345	117	12	to	to	ADP
cjfa-33345	117	13	results	result	NOUN
cjfa-33345	117	14	found	find	VERB
cjfa-33345	117	15	by	by	ADP
cjfa-33345	117	16	hermalin	hermalin	NOUN
cjfa-33345	117	17	and	and	CCONJ
cjfa-33345	117	18	weisbach	weisbach	NOUN
cjfa-33345	117	19	(	(	PUNCT
cjfa-33345	117	20	1988	1988	NUM
cjfa-33345	117	21	)	)	PUNCT
cjfa-33345	117	22	that	that	PRON
cjfa-33345	117	23	affirmed	affirm	VERB
cjfa-33345	117	24	a	a	DET
cjfa-33345	117	25	positive	positive	ADJ
cjfa-33345	117	26	relationship	relationship	NOUN
cjfa-33345	117	27	,	,	PUNCT
cjfa-33345	117	28	at	at	ADP
cjfa-33345	117	29	low	low	ADJ
cjfa-33345	117	30	levels	level	NOUN
cjfa-33345	117	31	of	of	ADP
cjfa-33345	117	32	ownership	ownership	NOUN
cjfa-33345	117	33	,	,	PUNCT
cjfa-33345	117	34	between	between	ADP
cjfa-33345	117	35	managerial	managerial	ADJ
cjfa-33345	117	36	ownership	ownership	NOUN
cjfa-33345	117	37	and	and	CCONJ
cjfa-33345	117	38	firm	firm	ADJ
cjfa-33345	117	39	performance	performance	NOUN
cjfa-33345	117	40	.	.	PUNCT
cjfa-33345	118	1	however	however	ADV
cjfa-33345	118	2	,	,	PUNCT
cjfa-33345	118	3	they	they	PRON
cjfa-33345	118	4	contradict	contradict	VERB
cjfa-33345	118	5	the	the	DET
cjfa-33345	118	6	predictions	prediction	NOUN
cjfa-33345	118	7	of	of	ADP
cjfa-33345	118	8	jensen	jensen	PROPN
cjfa-33345	118	9	and	and	CCONJ
cjfa-33345	118	10	meckling	meckling	NOUN
cjfa-33345	118	11	(	(	PUNCT
cjfa-33345	118	12	1976	1976	NUM
cjfa-33345	118	13	)	)	PUNCT
cjfa-33345	118	14	who	who	PRON
cjfa-33345	118	15	found	find	VERB
cjfa-33345	118	16	that	that	SCONJ
cjfa-33345	118	17	with	with	ADP
cjfa-33345	118	18	low	low	ADJ
cjfa-33345	118	19	levels	level	NOUN
cjfa-33345	118	20	of	of	ADP
cjfa-33345	118	21	managerial	managerial	ADJ
cjfa-33345	118	22	ownership	ownership	NOUN
cjfa-33345	118	23	(	(	PUNCT
cjfa-33345	118	24	less	less	ADJ
cjfa-33345	118	25	than	than	ADP
cjfa-33345	118	26	5	5	NUM
cjfa-33345	118	27	%	%	NOUN
cjfa-33345	118	28	)	)	PUNCT
cjfa-33345	118	29	managers	manager	NOUN
cjfa-33345	118	30	have	have	VERB
cjfa-33345	118	31	little	little	ADJ
cjfa-33345	118	32	incentive	incentive	NOUN
cjfa-33345	118	33	to	to	PART
cjfa-33345	118	34	improve	improve	VERB
cjfa-33345	118	35	the	the	DET
cjfa-33345	118	36	value	value	NOUN
cjfa-33345	118	37	of	of	ADP
cjfa-33345	118	38	the	the	DET
cjfa-33345	118	39	firm	firm	NOUN
cjfa-33345	118	40	and	and	CCONJ
cjfa-33345	118	41	therefore	therefore	ADV
cjfa-33345	118	42	shareholder	shareholder	NOUN
cjfa-33345	118	43	wealth	wealth	NOUN
cjfa-33345	118	44	and	and	CCONJ
cjfa-33345	118	45	tend	tend	VERB
cjfa-33345	118	46	to	to	PART
cjfa-33345	118	47	expropriate	expropriate	VERB
cjfa-33345	118	48	the	the	DET
cjfa-33345	118	49	resources	resource	NOUN
cjfa-33345	118	50	of	of	ADP
cjfa-33345	118	51	the	the	DET
cjfa-33345	118	52	firm	firm	NOUN
cjfa-33345	118	53	through	through	ADP
cjfa-33345	118	54	overuse	overuse	NOUN
cjfa-33345	118	55	and	and	CCONJ
cjfa-33345	118	56	sometimes	sometimes	ADV
cjfa-33345	118	57	unwarranted	unwarranted	ADJ
cjfa-33345	118	58	resources	resource	NOUN
cjfa-33345	118	59	.	.	PUNCT
cjfa-33345	119	1	on	on	ADP
cjfa-33345	119	2	the	the	DET
cjfa-33345	119	3	other	other	ADJ
cjfa-33345	119	4	hand	hand	NOUN
cjfa-33345	119	5	,	,	PUNCT
cjfa-33345	119	6	these	these	DET
cjfa-33345	119	7	results	result	NOUN
cjfa-33345	119	8	confirm	confirm	VERB
cjfa-33345	119	9	that	that	SCONJ
cjfa-33345	119	10	the	the	DET
cjfa-33345	119	11	relationship	relationship	NOUN
cjfa-33345	119	12	between	between	ADP
cjfa-33345	119	13	managerial	managerial	ADJ
cjfa-33345	119	14	ownership	ownership	NOUN
cjfa-33345	119	15	and	and	CCONJ
cjfa-33345	119	16	financial	financial	ADJ
cjfa-33345	119	17	performance	performance	NOUN
cjfa-33345	119	18	for	for	ADP
cjfa-33345	119	19	banking	banking	NOUN
cjfa-33345	119	20	firms	firm	NOUN
cjfa-33345	119	21	is	be	AUX
cjfa-33345	119	22	almost	almost	ADV
cjfa-33345	119	23	the	the	DET
cjfa-33345	119	24	same	same	ADJ
cjfa-33345	119	25	as	as	ADP
cjfa-33345	119	26	for	for	ADP
cjfa-33345	119	27	non	non	ADJ
cjfa-33345	119	28	-	-	ADJ
cjfa-33345	119	29	financial	financial	ADJ
cjfa-33345	119	30	institutions	institution	NOUN
cjfa-33345	119	31	despite	despite	SCONJ
cjfa-33345	119	32	the	the	DET
cjfa-33345	119	33	differences	difference	NOUN
cjfa-33345	119	34	that	that	PRON
cjfa-33345	119	35	exist	exist	VERB
cjfa-33345	119	36	within	within	ADP
cjfa-33345	119	37	the	the	DET
cjfa-33345	119	38	agency	agency	NOUN
cjfa-33345	119	39	problem	problem	NOUN
cjfa-33345	119	40	between	between	ADP
cjfa-33345	119	41	these	these	DET
cjfa-33345	119	42	two	two	NUM
cjfa-33345	119	43	types	type	NOUN
cjfa-33345	119	44	of	of	ADP
cjfa-33345	119	45	firms	firm	NOUN
cjfa-33345	119	46	and	and	CCONJ
cjfa-33345	119	47	the	the	DET
cjfa-33345	119	48	characteristics	characteristic	NOUN
cjfa-33345	119	49	of	of	ADP
cjfa-33345	119	50	banking	banking	NOUN
cjfa-33345	119	51	firms	firm	NOUN
cjfa-33345	119	52	regarding	regard	VERB
cjfa-33345	119	53	the	the	DET
cjfa-33345	119	54	accounting	accounting	NOUN
cjfa-33345	119	55	organization	organization	NOUN
cjfa-33345	119	56	.	.	PUNCT
cjfa-33345	120	1	the	the	DET
cjfa-33345	120	2	results	result	NOUN
cjfa-33345	120	3	of	of	ADP
cjfa-33345	120	4	the	the	DET
cjfa-33345	120	5	regression	regression	NOUN
cjfa-33345	120	6	equation	equation	NOUN
cjfa-33345	120	7	indicate	indicate	VERB
cjfa-33345	120	8	that	that	SCONJ
cjfa-33345	120	9	the	the	DET
cjfa-33345	120	10	coefficient	coefficient	NOUN
cjfa-33345	120	11	on	on	ADP
cjfa-33345	120	12	log	log	NOUN
cjfa-33345	120	13	of	of	ADP
cjfa-33345	120	14	outsiders	outsider	NOUN
cjfa-33345	120	15	is	be	AUX
cjfa-33345	120	16	negative	negative	ADJ
cjfa-33345	120	17	and	and	CCONJ
cjfa-33345	120	18	insignificant	insignificant	ADJ
cjfa-33345	120	19	.	.	PUNCT
cjfa-33345	121	1	however	however	ADV
cjfa-33345	121	2	,	,	PUNCT
cjfa-33345	121	3	the	the	DET
cjfa-33345	121	4	use	use	NOUN
cjfa-33345	121	5	of	of	ADP
cjfa-33345	121	6	the	the	DET
cjfa-33345	121	7	square	square	ADJ
cjfa-33345	121	8	outside	outside	ADJ
cjfa-33345	121	9	directors	director	NOUN
cjfa-33345	121	10	can	can	AUX
cjfa-33345	121	11	detect	detect	VERB
cjfa-33345	121	12	a	a	DET
cjfa-33345	121	13	negative	negative	ADJ
cjfa-33345	121	14	and	and	CCONJ
cjfa-33345	121	15	significant	significant	ADJ
cjfa-33345	121	16	coefficient	coefficient	NOUN
cjfa-33345	121	17	at	at	ADP
cjfa-33345	121	18	a	a	DET
cjfa-33345	121	19	confidence	confidence	NOUN
cjfa-33345	121	20	level	level	NOUN
cjfa-33345	121	21	of	of	ADP
cjfa-33345	121	22	10	10	NUM
cjfa-33345	121	23	%	%	NOUN
cjfa-33345	121	24	.	.	PUNCT
cjfa-33345	122	1	the	the	DET
cjfa-33345	122	2	square	square	ADJ
cjfa-33345	122	3	outside	outside	ADJ
cjfa-33345	122	4	directors	director	NOUN
cjfa-33345	122	5	is	be	AUX
cjfa-33345	122	6	used	use	VERB
cjfa-33345	122	7	to	to	PART
cjfa-33345	122	8	verify	verify	VERB
cjfa-33345	122	9	the	the	DET
cjfa-33345	122	10	nonlinear	nonlinear	ADJ
cjfa-33345	122	11	relationship	relationship	NOUN
cjfa-33345	122	12	between	between	ADP
cjfa-33345	122	13	the	the	DET
cjfa-33345	122	14	fraction	fraction	NOUN
cjfa-33345	122	15	of	of	ADP
cjfa-33345	122	16	outsiders	outsider	NOUN
cjfa-33345	122	17	on	on	ADP
cjfa-33345	122	18	the	the	DET
cjfa-33345	122	19	board	board	NOUN
cjfa-33345	122	20	of	of	ADP
cjfa-33345	122	21	directors	director	NOUN
cjfa-33345	122	22	and	and	CCONJ
cjfa-33345	122	23	financial	financial	ADJ
cjfa-33345	122	24	performance	performance	NOUN
cjfa-33345	122	25	(	(	PUNCT
cjfa-33345	122	26	brickley	brickley	PROPN
cjfa-33345	122	27	et	et	PROPN
cjfa-33345	122	28	al	al	PROPN
cjfa-33345	122	29	.	.	PROPN
cjfa-33345	122	30	,	,	PUNCT
cjfa-33345	122	31	1994	1994	NUM
cjfa-33345	122	32	)	)	PUNCT
cjfa-33345	122	33	.	.	PUNCT
cjfa-33345	123	1	the	the	DET
cjfa-33345	123	2	results	result	NOUN
cjfa-33345	123	3	found	find	VERB
cjfa-33345	123	4	in	in	ADP
cjfa-33345	123	5	this	this	DET
cjfa-33345	123	6	study	study	NOUN
cjfa-33345	123	7	show	show	VERB
cjfa-33345	123	8	that	that	SCONJ
cjfa-33345	123	9	increasing	increase	VERB
cjfa-33345	123	10	the	the	DET
cjfa-33345	123	11	percentage	percentage	NOUN
cjfa-33345	123	12	of	of	ADP
cjfa-33345	123	13	ownership	ownership	NOUN
cjfa-33345	123	14	held	hold	VERB
cjfa-33345	123	15	by	by	ADP
cjfa-33345	123	16	outside	outside	ADJ
cjfa-33345	123	17	directors	director	NOUN
cjfa-33345	123	18	decreases	decrease	VERB
cjfa-33345	123	19	the	the	DET
cjfa-33345	123	20	deficit	deficit	NOUN
cjfa-33345	123	21	ratio	ratio	NOUN
cjfa-33345	123	22	,	,	PUNCT
cjfa-33345	123	23	reduces	reduce	VERB
cjfa-33345	123	24	the	the	DET
cjfa-33345	123	25	gap	gap	NOUN
cjfa-33345	123	26	between	between	ADP
cjfa-33345	123	27	the	the	DET
cjfa-33345	123	28	boundary	boundary	ADJ
cjfa-33345	123	29	value	value	NOUN
cjfa-33345	123	30	of	of	ADP
cjfa-33345	123	31	the	the	DET
cjfa-33345	123	32	bank	bank	NOUN
cjfa-33345	123	33	and	and	CCONJ
cjfa-33345	123	34	its	its	PRON
cjfa-33345	123	35	achieved	achieve	VERB
cjfa-33345	123	36	market	market	NOUN
cjfa-33345	123	37	value	value	NOUN
cjfa-33345	123	38	which	which	PRON
cjfa-33345	123	39	consequently	consequently	ADV
cjfa-33345	123	40	improves	improve	VERB
cjfa-33345	123	41	the	the	DET
cjfa-33345	123	42	bank	bank	NOUN
cjfa-33345	123	43	performance	performance	NOUN
cjfa-33345	123	44	following	follow	VERB
cjfa-33345	123	45	mergers	merger	NOUN
cjfa-33345	123	46	.	.	PUNCT
cjfa-33345	124	1	this	this	PRON
cjfa-33345	124	2	confirms	confirm	VERB
cjfa-33345	124	3	the	the	DET
cjfa-33345	124	4	results	result	NOUN
cjfa-33345	124	5	found	find	VERB
cjfa-33345	124	6	by	by	ADP
cjfa-33345	124	7	several	several	ADJ
cjfa-33345	124	8	researchers	researcher	NOUN
cjfa-33345	124	9	like	like	ADP
cjfa-33345	124	10	hanson	hanson	NOUN
cjfa-33345	124	11	and	and	CCONJ
cjfa-33345	124	12	song	song	NOUN
cjfa-33345	124	13	(	(	PUNCT
cjfa-33345	124	14	1997	1997	NUM
cjfa-33345	124	15	)	)	PUNCT
cjfa-33345	124	16	that	that	PRON
cjfa-33345	124	17	indicated	indicate	VERB
cjfa-33345	124	18	that	that	SCONJ
cjfa-33345	124	19	increasing	increase	VERB
cjfa-33345	124	20	the	the	DET
cjfa-33345	124	21	number	number	NOUN
cjfa-33345	124	22	of	of	ADP
cjfa-33345	124	23	outsiders	outsider	NOUN
cjfa-33345	124	24	in	in	ADP
cjfa-33345	124	25	the	the	DET
cjfa-33345	124	26	board	board	NOUN
cjfa-33345	124	27	of	of	ADP
cjfa-33345	124	28	directors	director	NOUN
cjfa-33345	124	29	reduced	reduce	VERB
cjfa-33345	124	30	the	the	DET
cjfa-33345	124	31	managerial	managerial	ADJ
cjfa-33345	124	32	opportunism	opportunism	NOUN
cjfa-33345	124	33	and	and	CCONJ
cjfa-33345	124	34	enhanced	enhance	VERB
cjfa-33345	124	35	shareholder	shareholder	NOUN
cjfa-33345	124	36	wealth	wealth	NOUN
cjfa-33345	124	37	.	.	PUNCT
cjfa-33345	125	1	a	a	DET
cjfa-33345	125	2	positive	positive	ADJ
cjfa-33345	125	3	and	and	CCONJ
cjfa-33345	125	4	significant	significant	ADJ
cjfa-33345	125	5	coefficient	coefficient	NOUN
cjfa-33345	125	6	allows	allow	VERB
cjfa-33345	125	7	to	to	PART
cjfa-33345	125	8	assert	assert	VERB
cjfa-33345	125	9	that	that	SCONJ
cjfa-33345	125	10	the	the	DET
cjfa-33345	125	11	size	size	NOUN
cjfa-33345	125	12	of	of	ADP
cjfa-33345	125	13	the	the	DET
cjfa-33345	125	14	board	board	NOUN
cjfa-33345	125	15	of	of	ADP
cjfa-33345	125	16	directors	director	NOUN
cjfa-33345	125	17	increases	increase	VERB
cjfa-33345	125	18	the	the	DET
cjfa-33345	125	19	value	value	NOUN
cjfa-33345	125	20	of	of	ADP
cjfa-33345	125	21	deficit	deficit	NOUN
cjfa-33345	125	22	.	.	PUNCT
cjfa-33345	126	1	amira	amira	PROPN
cjfa-33345	126	2	neffati	neffati	PROPN
cjfa-33345	126	3	,	,	PUNCT
cjfa-33345	126	4	wided	wide	VERB
cjfa-33345	126	5	khiari	khiari	PROPN
cjfa-33345	126	6	,	,	PUNCT
cjfa-33345	126	7	azhaar	azhaar	NOUN
cjfa-33345	126	8	lajmi108	lajmi108	PROPN
cjfa-33345	126	9	regarding	regard	VERB
cjfa-33345	126	10	the	the	DET
cjfa-33345	126	11	audit	audit	NOUN
cjfa-33345	126	12	committee	committee	NOUN
cjfa-33345	126	13	,	,	PUNCT
cjfa-33345	126	14	the	the	DET
cjfa-33345	126	15	results	result	NOUN
cjfa-33345	126	16	show	show	VERB
cjfa-33345	126	17	that	that	SCONJ
cjfa-33345	126	18	the	the	DET
cjfa-33345	126	19	size	size	NOUN
cjfa-33345	126	20	and	and	CCONJ
cjfa-33345	126	21	activity	activity	NOUN
cjfa-33345	126	22	of	of	ADP
cjfa-33345	126	23	this	this	DET
cjfa-33345	126	24	committee	committee	NOUN
cjfa-33345	126	25	have	have	VERB
cjfa-33345	126	26	a	a	DET
cjfa-33345	126	27	negative	negative	ADJ
cjfa-33345	126	28	effect	effect	NOUN
cjfa-33345	126	29	on	on	ADP
cjfa-33345	126	30	the	the	DET
cjfa-33345	126	31	deficit	deficit	NOUN
cjfa-33345	126	32	value	value	NOUN
cjfa-33345	126	33	.	.	PUNCT
cjfa-33345	127	1	this	this	PRON
cjfa-33345	127	2	is	be	AUX
cjfa-33345	127	3	consistent	consistent	ADJ
cjfa-33345	127	4	with	with	ADP
cjfa-33345	127	5	previous	previous	ADJ
cjfa-33345	127	6	findings	finding	NOUN
cjfa-33345	127	7	in	in	ADP
cjfa-33345	127	8	the	the	DET
cjfa-33345	127	9	literature	literature	NOUN
cjfa-33345	127	10	(	(	PUNCT
cjfa-33345	127	11	carcello	carcello	PROPN
cjfa-33345	127	12	&	&	CCONJ
cjfa-33345	127	13	neal	neal	PROPN
cjfa-33345	127	14	,	,	PUNCT
cjfa-33345	127	15	2000	2000	NUM
cjfa-33345	127	16	)	)	PUNCT
cjfa-33345	127	17	which	which	PRON
cjfa-33345	127	18	affirm	affirm	VERB
cjfa-33345	127	19	the	the	DET
cjfa-33345	127	20	idea	idea	NOUN
cjfa-33345	127	21	that	that	SCONJ
cjfa-33345	127	22	the	the	DET
cjfa-33345	127	23	characteristics	characteristic	NOUN
cjfa-33345	127	24	of	of	ADP
cjfa-33345	127	25	this	this	DET
cjfa-33345	127	26	committee	committee	NOUN
cjfa-33345	127	27	improves	improve	VERB
cjfa-33345	127	28	performance	performance	NOUN
cjfa-33345	127	29	.	.	PUNCT
cjfa-33345	128	1	in	in	ADP
cjfa-33345	128	2	the	the	DET
cjfa-33345	128	3	rest	rest	NOUN
cjfa-33345	128	4	of	of	ADP
cjfa-33345	128	5	this	this	DET
cjfa-33345	128	6	paper	paper	NOUN
cjfa-33345	128	7	,	,	PUNCT
cjfa-33345	128	8	we	we	PRON
cjfa-33345	128	9	will	will	AUX
cjfa-33345	128	10	study	study	VERB
cjfa-33345	128	11	the	the	DET
cjfa-33345	128	12	relationship	relationship	NOUN
cjfa-33345	128	13	between	between	ADP
cjfa-33345	128	14	firm	firm	ADJ
cjfa-33345	128	15	size	size	NOUN
cjfa-33345	128	16	and	and	CCONJ
cjfa-33345	128	17	performance	performance	NOUN
cjfa-33345	128	18	following	follow	VERB
cjfa-33345	128	19	bank	bank	NOUN
cjfa-33345	128	20	mergers	merger	NOUN
cjfa-33345	128	21	.	.	PUNCT
cjfa-33345	129	1	modified	modify	VERB
cjfa-33345	129	2	deficit	deficit	NOUN
cjfa-33345	129	3	ratio	ratio	NOUN
cjfa-33345	129	4	:	:	PUNCT
cjfa-33345	129	5	study	study	NOUN
cjfa-33345	129	6	and	and	CCONJ
cjfa-33345	129	7	interpretation	interpretation	NOUN
cjfa-33345	129	8	in	in	ADP
cjfa-33345	129	9	this	this	DET
cjfa-33345	129	10	section	section	NOUN
cjfa-33345	129	11	,	,	PUNCT
cjfa-33345	129	12	we	we	PRON
cjfa-33345	129	13	will	will	AUX
cjfa-33345	129	14	study	study	VERB
cjfa-33345	129	15	the	the	DET
cjfa-33345	129	16	impact	impact	NOUN
cjfa-33345	129	17	of	of	ADP
cjfa-33345	129	18	the	the	DET
cjfa-33345	129	19	increase	increase	NOUN
cjfa-33345	129	20	in	in	ADP
cjfa-33345	129	21	the	the	DET
cjfa-33345	129	22	firm	firm	ADJ
cjfa-33345	129	23	size	size	NOUN
cjfa-33345	129	24	on	on	ADP
cjfa-33345	129	25	banks	bank	NOUN
cjfa-33345	129	26	performance	performance	NOUN
cjfa-33345	129	27	following	follow	VERB
cjfa-33345	129	28	bank	bank	NOUN
cjfa-33345	129	29	mergers	merger	NOUN
cjfa-33345	129	30	.	.	PUNCT
cjfa-33345	130	1	this	this	DET
cjfa-33345	130	2	impact	impact	NOUN
cjfa-33345	130	3	will	will	AUX
cjfa-33345	130	4	be	be	AUX
cjfa-33345	130	5	measured	measure	VERB
cjfa-33345	130	6	by	by	ADP
cjfa-33345	130	7	the	the	DET
cjfa-33345	130	8	modified	modify	VERB
cjfa-33345	130	9	deficit	deficit	NOUN
cjfa-33345	130	10	ratio	ratio	NOUN
cjfa-33345	130	11	.	.	PUNCT
cjfa-33345	131	1	according	accord	VERB
cjfa-33345	131	2	to	to	ADP
cjfa-33345	131	3	several	several	ADJ
cjfa-33345	131	4	researches	research	NOUN
cjfa-33345	131	5	,	,	PUNCT
cjfa-33345	131	6	the	the	DET
cjfa-33345	131	7	existence	existence	NOUN
cjfa-33345	131	8	of	of	ADP
cjfa-33345	131	9	managerial	managerial	ADJ
cjfa-33345	131	10	incentives	incentive	NOUN
cjfa-33345	131	11	has	have	AUX
cjfa-33345	131	12	initiate	initiate	VERB
cjfa-33345	131	13	mergers	merger	NOUN
cjfa-33345	131	14	in	in	ADP
cjfa-33345	131	15	order	order	NOUN
cjfa-33345	131	16	to	to	PART
cjfa-33345	131	17	increase	increase	VERB
cjfa-33345	131	18	the	the	DET
cjfa-33345	131	19	firm	firm	ADJ
cjfa-33345	131	20	size	size	NOUN
cjfa-33345	131	21	and	and	CCONJ
cjfa-33345	131	22	therefore	therefore	ADV
cjfa-33345	131	23	their	their	PRON
cjfa-33345	131	24	compensation	compensation	NOUN
cjfa-33345	131	25	and	and	CCONJ
cjfa-33345	131	26	not	not	PART
cjfa-33345	131	27	to	to	PART
cjfa-33345	131	28	improve	improve	VERB
cjfa-33345	131	29	the	the	DET
cjfa-33345	131	30	firm	firm	ADJ
cjfa-33345	131	31	value	value	NOUN
cjfa-33345	131	32	.	.	PUNCT
cjfa-33345	132	1	in	in	ADP
cjfa-33345	132	2	this	this	DET
cjfa-33345	132	3	study	study	NOUN
cjfa-33345	132	4	,	,	PUNCT
cjfa-33345	132	5	we	we	PRON
cjfa-33345	132	6	extend	extend	VERB
cjfa-33345	132	7	these	these	DET
cjfa-33345	132	8	works	work	NOUN
cjfa-33345	132	9	by	by	ADP
cjfa-33345	132	10	introducing	introduce	VERB
cjfa-33345	132	11	the	the	DET
cjfa-33345	132	12	variable	variable	ADJ
cjfa-33345	132	13	firm	firm	ADJ
cjfa-33345	132	14	size	size	NOUN
cjfa-33345	132	15	measured	measure	VERB
cjfa-33345	132	16	by	by	ADP
cjfa-33345	132	17	total	total	ADJ
cjfa-33345	132	18	assets	asset	NOUN
cjfa-33345	132	19	.	.	PUNCT
cjfa-33345	133	1	so	so	ADV
cjfa-33345	133	2	,	,	PUNCT
cjfa-33345	133	3	the	the	DET
cjfa-33345	133	4	new	new	ADJ
cjfa-33345	133	5	model	model	NOUN
cjfa-33345	133	6	is	be	AUX
cjfa-33345	133	7	presented	present	VERB
cjfa-33345	133	8	as	as	SCONJ
cjfa-33345	133	9	follows	follow	VERB
cjfa-33345	133	10	:	:	PUNCT
cjfa-33345	134	1	modified	modify	VERB
cjfa-33345	134	2	deficit	deficit	NOUN
cjfa-33345	134	3	ratio	ratio	NOUN
cjfa-33345	134	4	=	=	SYM
cjfa-33345	134	5	α0	α0	ADJ
cjfa-33345	134	6	+	+	CCONJ
cjfa-33345	134	7	α1	α1	PROPN
cjfa-33345	134	8	internal	internal	ADJ
cjfa-33345	134	9	+	+	CCONJ
cjfa-33345	134	10	α2	α2	ADJ
cjfa-33345	134	11	(	(	PUNCT
cjfa-33345	134	12	internal)2	internal)2	PROPN
cjfa-33345	134	13	+	+	CCONJ
cjfa-33345	134	14	α3	α3	ADJ
cjfa-33345	134	15	external	external	ADJ
cjfa-33345	134	16	+	+	NUM
cjfa-33345	134	17	α4	α4	NOUN
cjfa-33345	134	18	(	(	PUNCT
cjfa-33345	134	19	external)2	external)2	X
cjfa-33345	134	20	+	+	CCONJ
cjfa-33345	134	21	α5	α5	PROPN
cjfa-33345	134	22	log	log	NOUN
cjfa-33345	134	23	board	board	NOUN
cjfa-33345	134	24	size	size	NOUN
cjfa-33345	134	25	+	+	CCONJ
cjfa-33345	134	26	α6	α6	NOUN
cjfa-33345	134	27	log	log	NOUN
cjfa-33345	134	28	audit	audit	NOUN
cjfa-33345	134	29	committee	committee	NOUN
cjfa-33345	134	30	size	size	NOUN
cjfa-33345	134	31	+	+	CCONJ
cjfa-33345	134	32	α7	α7	NOUN
cjfa-33345	134	33	log	log	NOUN
cjfa-33345	134	34	audit	audit	NOUN
cjfa-33345	134	35	committee	committee	NOUN
cjfa-33345	134	36	meetings	meeting	NOUN
cjfa-33345	134	37	+	+	CCONJ
cjfa-33345	134	38	α8	α8	NOUN
cjfa-33345	134	39	options	option	NOUN
cjfa-33345	134	40	granted	grant	VERB
cjfa-33345	134	41	+	+	PROPN
cjfa-33345	134	42	α9	α9	NOUN
cjfa-33345	134	43	(	(	PUNCT
cjfa-33345	134	44	options	option	NOUN
cjfa-33345	134	45	granted)2	granted)2	X
cjfa-33345	134	46	+	+	CCONJ
cjfa-33345	134	47	α10	α10	NOUN
cjfa-33345	134	48	(	(	PUNCT
cjfa-33345	134	49	internals*options	internals*option	NOUN
cjfa-33345	134	50	granted	grant	VERB
cjfa-33345	134	51	)	)	PUNCT
cjfa-33345	134	52	+	+	CCONJ
cjfa-33345	134	53	α11	α11	ADJ
cjfa-33345	134	54	total	total	ADJ
cjfa-33345	134	55	assets	asset	NOUN
cjfa-33345	134	56	+	+	CCONJ
cjfa-33345	134	57	α12	α12	NOUN
cjfa-33345	134	58	(	(	PUNCT
cjfa-33345	134	59	total	total	PROPN
cjfa-33345	134	60	assets)2	assets)2	PROPN
cjfa-33345	134	61	+	+	NUM
cjfa-33345	134	62	α13	α13	PROPN
cjfa-33345	134	63	(	(	PUNCT
cjfa-33345	134	64	total	total	ADJ
cjfa-33345	134	65	assets	asset	NOUN
cjfa-33345	134	66	*	*	PUNCT
cjfa-33345	134	67	options	option	NOUN
cjfa-33345	134	68	granted	grant	VERB
cjfa-33345	134	69	)	)	PUNCT
cjfa-33345	134	70	this	this	DET
cjfa-33345	134	71	new	new	ADJ
cjfa-33345	134	72	formulation	formulation	NOUN
cjfa-33345	134	73	of	of	ADP
cjfa-33345	134	74	the	the	DET
cjfa-33345	134	75	deficit	deficit	NOUN
cjfa-33345	134	76	ratio	ratio	NOUN
cjfa-33345	134	77	was	be	AUX
cjfa-33345	134	78	noted	note	VERB
cjfa-33345	134	79	by	by	ADP
cjfa-33345	134	80	introducing	introduce	VERB
cjfa-33345	134	81	the	the	DET
cjfa-33345	134	82	firm	firm	ADJ
cjfa-33345	134	83	size	size	NOUN
cjfa-33345	134	84	variable	variable	NOUN
cjfa-33345	134	85	that	that	PRON
cjfa-33345	134	86	has	have	AUX
cjfa-33345	134	87	been	be	AUX
cjfa-33345	134	88	measured	measure	VERB
cjfa-33345	134	89	by	by	ADP
cjfa-33345	134	90	the	the	DET
cjfa-33345	134	91	total	total	ADJ
cjfa-33345	134	92	assets	asset	NOUN
cjfa-33345	134	93	.	.	PUNCT
cjfa-33345	135	1	more	more	ADV
cjfa-33345	135	2	precisely	precisely	ADV
cjfa-33345	135	3	,	,	PUNCT
cjfa-33345	135	4	the	the	DET
cjfa-33345	135	5	square	square	ADJ
cjfa-33345	135	6	variables	variable	NOUN
cjfa-33345	135	7	total	total	ADJ
cjfa-33345	135	8	assets	asset	NOUN
cjfa-33345	135	9	and	and	CCONJ
cjfa-33345	135	10	the	the	DET
cjfa-33345	135	11	option	option	NOUN
cjfa-33345	135	12	granted	grant	VERB
cjfa-33345	135	13	is	be	AUX
cjfa-33345	135	14	introduced	introduce	VERB
cjfa-33345	135	15	to	to	PART
cjfa-33345	135	16	test	test	VERB
cjfa-33345	135	17	the	the	DET
cjfa-33345	135	18	effect	effect	NOUN
cjfa-33345	135	19	of	of	ADP
cjfa-33345	135	20	the	the	DET
cjfa-33345	135	21	increase	increase	NOUN
cjfa-33345	135	22	of	of	ADP
cjfa-33345	135	23	these	these	DET
cjfa-33345	135	24	variables	variable	NOUN
cjfa-33345	135	25	on	on	ADP
cjfa-33345	135	26	performance	performance	NOUN
cjfa-33345	135	27	as	as	ADV
cjfa-33345	135	28	well	well	ADV
cjfa-33345	135	29	as	as	ADP
cjfa-33345	135	30	on	on	ADP
cjfa-33345	135	31	the	the	DET
cjfa-33345	135	32	relationship	relationship	NOUN
cjfa-33345	135	33	between	between	ADP
cjfa-33345	135	34	these	these	DET
cjfa-33345	135	35	variables	variable	NOUN
cjfa-33345	135	36	.	.	PUNCT
cjfa-33345	136	1	in	in	ADP
cjfa-33345	136	2	this	this	DET
cjfa-33345	136	3	context	context	NOUN
cjfa-33345	136	4	,	,	PUNCT
cjfa-33345	136	5	the	the	DET
cjfa-33345	136	6	square	square	ADJ
cjfa-33345	136	7	linear	linear	PROPN
cjfa-33345	136	8	regression	regression	NOUN
cjfa-33345	136	9	results	result	NOUN
cjfa-33345	136	10	are	be	AUX
cjfa-33345	136	11	presented	present	VERB
cjfa-33345	136	12	in	in	ADP
cjfa-33345	136	13	table	table	NOUN
cjfa-33345	136	14	3	3	NUM
cjfa-33345	136	15	.	.	PUNCT
cjfa-33345	136	16	table	table	NOUN
cjfa-33345	136	17	3	3	NUM
cjfa-33345	136	18	.	.	PUNCT
cjfa-33345	136	19	modified	modify	VERB
cjfa-33345	136	20	deficit	deficit	NOUN
cjfa-33345	136	21	ratio	ratio	NOUN
cjfa-33345	136	22	independent	independent	ADJ
cjfa-33345	136	23	variables	variable	NOUN
cjfa-33345	136	24	dependent	dependent	ADJ
cjfa-33345	136	25	variables	variable	NOUN
cjfa-33345	136	26	coefficient	coefficient	VERB
cjfa-33345	136	27	t	t	PROPN
cjfa-33345	136	28	-	-	PUNCT
cjfa-33345	136	29	statistic	statistic	NOUN
cjfa-33345	136	30	total	total	ADJ
cjfa-33345	136	31	assets	asset	NOUN
cjfa-33345	136	32	3.172	3.172	NUM
cjfa-33345	136	33	3.475	3.475	NUM
cjfa-33345	136	34	*	*	PUNCT
cjfa-33345	136	35	*	*	PUNCT
cjfa-33345	136	36	*	*	PUNCT
cjfa-33345	136	37	(	(	PUNCT
cjfa-33345	136	38	total	total	ADJ
cjfa-33345	136	39	assets)2	assets)2	PROPN
cjfa-33345	136	40	-4.313	-4.313	NUM
cjfa-33345	136	41	-2.142	-2.142	PUNCT
cjfa-33345	136	42	*	*	PUNCT
cjfa-33345	136	43	*	*	PUNCT
cjfa-33345	136	44	*	*	PUNCT
cjfa-33345	136	45	corporate	corporate	ADJ
cjfa-33345	136	46	governance	governance	NOUN
cjfa-33345	136	47	and	and	CCONJ
cjfa-33345	136	48	post	post	ADJ
cjfa-33345	136	49	-	-	ADJ
cjfa-33345	136	50	merger	merger	ADJ
cjfa-33345	136	51	performance	performance	NOUN
cjfa-33345	136	52	…	…	PUNCT
cjfa-33345	136	53	109	109	NUM
cjfa-33345	136	54	independent	independent	ADJ
cjfa-33345	136	55	variables	variable	NOUN
cjfa-33345	136	56	dependent	dependent	ADJ
cjfa-33345	136	57	variables	variable	NOUN
cjfa-33345	136	58	coefficient	coefficient	VERB
cjfa-33345	136	59	t	t	PROPN
cjfa-33345	136	60	-	-	PUNCT
cjfa-33345	136	61	statistic	statistic	NOUN
cjfa-33345	136	62	total	total	NOUN
cjfa-33345	136	63	assets*options	assets*option	NOUN
cjfa-33345	136	64	granted	grant	VERB
cjfa-33345	136	65	1.790	1.790	NUM
cjfa-33345	136	66	1.873	1.873	NUM
cjfa-33345	136	67	*	*	NOUN
cjfa-33345	136	68	internals	internal	NOUN
cjfa-33345	136	69	-0.804	-0.804	NOUN
cjfa-33345	136	70	-3.785	-3.785	PUNCT
cjfa-33345	136	71	*	*	PUNCT
cjfa-33345	136	72	*	*	PUNCT
cjfa-33345	136	73	*	*	PUNCT
cjfa-33345	136	74	(	(	PUNCT
cjfa-33345	136	75	internals)2	internals)2	X
cjfa-33345	136	76	-0.310	-0.310	X
cjfa-33345	136	77	-1.678	-1.678	X
cjfa-33345	136	78	externals	external	NOUN
cjfa-33345	136	79	-0.168	-0.168	PUNCT
cjfa-33345	136	80	-0.845	-0.845	X
cjfa-33345	136	81	(	(	PUNCT
cjfa-33345	136	82	externals)2	externals)2	NOUN
cjfa-33345	136	83	-0.348	-0.348	ADJ
cjfa-33345	136	84	-3.411	-3.411	PUNCT
cjfa-33345	136	85	*	*	PUNCT
cjfa-33345	136	86	*	*	PUNCT
cjfa-33345	136	87	*	*	PUNCT
cjfa-33345	136	88	options	option	NOUN
cjfa-33345	136	89	granted	grant	VERB
cjfa-33345	136	90	-0.574	-0.574	NOUN
cjfa-33345	136	91	-2.234	-2.234	PUNCT
cjfa-33345	136	92	*	*	PUNCT
cjfa-33345	136	93	(	(	PUNCT
cjfa-33345	136	94	options	option	NOUN
cjfa-33345	136	95	granted)2	granted)2	NOUN
cjfa-33345	136	96	-0.084	-0.084	NUM
cjfa-33345	136	97	-0.451	-0.451	PUNCT
cjfa-33345	136	98	(	(	PUNCT
cjfa-33345	136	99	internals*options	internals*option	NOUN
cjfa-33345	136	100	granted	grant	VERB
cjfa-33345	136	101	)	)	PUNCT
cjfa-33345	136	102	-0.614	-0.614	NUM
cjfa-33345	136	103	-3.521	-3.521	NOUN
cjfa-33345	136	104	*	*	PUNCT
cjfa-33345	136	105	board	board	NOUN
cjfa-33345	136	106	size	size	NOUN
cjfa-33345	136	107	0.746	0.746	PRON
cjfa-33345	136	108	-2.432	-2.432	NOUN
cjfa-33345	136	109	*	*	PUNCT
cjfa-33345	136	110	audit	audit	NOUN
cjfa-33345	136	111	committee	committee	NOUN
cjfa-33345	136	112	size	size	NOUN
cjfa-33345	136	113	-0.838	-0.838	X
cjfa-33345	136	114	-1.967	-1.967	PROPN
cjfa-33345	136	115	*	*	PUNCT
cjfa-33345	136	116	audit	audit	NOUN
cjfa-33345	136	117	committee	committee	NOUN
cjfa-33345	136	118	meetings	meeting	NOUN
cjfa-33345	136	119	-0.789	-0.789	ADV
cjfa-33345	136	120	-2.457	-2.457	PROPN
cjfa-33345	136	121	*	*	SYM
cjfa-33345	136	122	r2	r2	NOUN
cjfa-33345	136	123	0.414	0.414	NUM
cjfa-33345	136	124	adjusted	adjust	VERB
cjfa-33345	136	125	r2	r2	NOUN
cjfa-33345	136	126	0.323	0.323	NUM
cjfa-33345	136	127	*	*	PUNCT
cjfa-33345	136	128	significant	significant	ADJ
cjfa-33345	136	129	at	at	ADP
cjfa-33345	136	130	10	10	NUM
cjfa-33345	136	131	%	%	NOUN
cjfa-33345	136	132	level	level	NOUN
cjfa-33345	136	133	of	of	ADP
cjfa-33345	136	134	confidence	confidence	NOUN
cjfa-33345	136	135	*	*	PUNCT
cjfa-33345	136	136	*	*	PUNCT
cjfa-33345	136	137	significant	significant	ADJ
cjfa-33345	136	138	at	at	ADP
cjfa-33345	136	139	5	5	NUM
cjfa-33345	136	140	%	%	NOUN
cjfa-33345	136	141	level	level	NOUN
cjfa-33345	136	142	of	of	ADP
cjfa-33345	136	143	confidence	confidence	NOUN
cjfa-33345	136	144	*	*	PUNCT
cjfa-33345	136	145	*	*	PUNCT
cjfa-33345	136	146	*	*	PUNCT
cjfa-33345	136	147	significant	significant	ADJ
cjfa-33345	136	148	at	at	ADP
cjfa-33345	136	149	1	1	NUM
cjfa-33345	136	150	%	%	NOUN
cjfa-33345	136	151	level	level	NOUN
cjfa-33345	136	152	of	of	ADP
cjfa-33345	136	153	confidence	confidence	NOUN
cjfa-33345	136	154	.	.	PUNCT
cjfa-33345	137	1	s	s	PART
cjfa-33345	137	2	o	o	X
cjfa-33345	137	3	u	u	NOUN
cjfa-33345	137	4	r	r	NOUN
cjfa-33345	137	5	c	c	NOUN
cjfa-33345	137	6	e	e	NOUN
cjfa-33345	137	7	:	:	PUNCT
cjfa-33345	137	8	own	own	ADJ
cjfa-33345	137	9	study	study	NOUN
cjfa-33345	137	10	.	.	PUNCT
cjfa-33345	138	1	in	in	ADP
cjfa-33345	138	2	this	this	DET
cjfa-33345	138	3	table	table	NOUN
cjfa-33345	138	4	,	,	PUNCT
cjfa-33345	138	5	it	it	PRON
cjfa-33345	138	6	is	be	AUX
cjfa-33345	138	7	shown	show	VERB
cjfa-33345	138	8	that	that	SCONJ
cjfa-33345	138	9	the	the	DET
cjfa-33345	138	10	significance	significance	NOUN
cjfa-33345	138	11	and	and	CCONJ
cjfa-33345	138	12	sign	sign	NOUN
cjfa-33345	138	13	of	of	ADP
cjfa-33345	138	14	the	the	DET
cjfa-33345	138	15	coefficients	coefficient	NOUN
cjfa-33345	138	16	of	of	ADP
cjfa-33345	138	17	the	the	DET
cjfa-33345	138	18	governance	governance	NOUN
cjfa-33345	138	19	variables	variable	NOUN
cjfa-33345	138	20	did	do	AUX
cjfa-33345	138	21	not	not	PART
cjfa-33345	138	22	change	change	VERB
cjfa-33345	138	23	following	follow	VERB
cjfa-33345	138	24	the	the	DET
cjfa-33345	138	25	introduction	introduction	NOUN
cjfa-33345	138	26	of	of	ADP
cjfa-33345	138	27	the	the	DET
cjfa-33345	138	28	variable	variable	ADJ
cjfa-33345	138	29	firm	firm	ADJ
cjfa-33345	138	30	size	size	NOUN
cjfa-33345	138	31	.	.	PUNCT
cjfa-33345	139	1	results	result	NOUN
cjfa-33345	139	2	show	show	VERB
cjfa-33345	139	3	that	that	SCONJ
cjfa-33345	139	4	the	the	DET
cjfa-33345	139	5	total	total	ADJ
cjfa-33345	139	6	assets	asset	NOUN
cjfa-33345	139	7	coefficient	coefficient	NOUN
cjfa-33345	139	8	is	be	AUX
cjfa-33345	139	9	positive	positive	ADJ
cjfa-33345	139	10	and	and	CCONJ
cjfa-33345	139	11	significant	significant	ADJ
cjfa-33345	139	12	at	at	ADP
cjfa-33345	139	13	a	a	DET
cjfa-33345	139	14	confidence	confidence	NOUN
cjfa-33345	139	15	level	level	NOUN
cjfa-33345	139	16	of	of	ADP
cjfa-33345	139	17	10	10	NUM
cjfa-33345	139	18	%	%	NOUN
cjfa-33345	139	19	.	.	PUNCT
cjfa-33345	140	1	these	these	DET
cjfa-33345	140	2	results	result	NOUN
cjfa-33345	140	3	show	show	VERB
cjfa-33345	140	4	that	that	SCONJ
cjfa-33345	140	5	the	the	DET
cjfa-33345	140	6	total	total	ADJ
cjfa-33345	140	7	assets	asset	NOUN
cjfa-33345	140	8	of	of	ADP
cjfa-33345	140	9	the	the	DET
cjfa-33345	140	10	firm	firm	NOUN
cjfa-33345	140	11	following	follow	VERB
cjfa-33345	140	12	the	the	DET
cjfa-33345	140	13	merger	merger	NOUN
cjfa-33345	140	14	increases	increase	VERB
cjfa-33345	140	15	the	the	DET
cjfa-33345	140	16	deviation	deviation	NOUN
cjfa-33345	140	17	between	between	ADP
cjfa-33345	140	18	the	the	DET
cjfa-33345	140	19	firm	firm	ADJ
cjfa-33345	140	20	value	value	NOUN
cjfa-33345	140	21	and	and	CCONJ
cjfa-33345	140	22	its	its	PRON
cjfa-33345	140	23	performed	perform	VERB
cjfa-33345	140	24	market	market	NOUN
cjfa-33345	140	25	value	value	NOUN
cjfa-33345	140	26	and	and	CCONJ
cjfa-33345	140	27	therefore	therefore	ADV
cjfa-33345	140	28	deteriorate	deteriorate	VERB
cjfa-33345	140	29	the	the	DET
cjfa-33345	140	30	firm	firm	ADJ
cjfa-33345	140	31	performance	performance	NOUN
cjfa-33345	140	32	.	.	PUNCT
cjfa-33345	141	1	these	these	DET
cjfa-33345	141	2	results	result	NOUN
cjfa-33345	141	3	seem	seem	VERB
cjfa-33345	141	4	to	to	PART
cjfa-33345	141	5	be	be	AUX
cjfa-33345	141	6	surprising	surprising	ADJ
cjfa-33345	141	7	and	and	CCONJ
cjfa-33345	141	8	unexpected	unexpected	ADJ
cjfa-33345	141	9	since	since	SCONJ
cjfa-33345	141	10	they	they	PRON
cjfa-33345	141	11	contradict	contradict	VERB
cjfa-33345	141	12	those	those	PRON
cjfa-33345	141	13	found	find	VERB
cjfa-33345	141	14	by	by	ADP
cjfa-33345	141	15	the	the	DET
cjfa-33345	141	16	governance	governance	NOUN
cjfa-33345	141	17	variables	variable	NOUN
cjfa-33345	141	18	(	(	PUNCT
cjfa-33345	141	19	morck	morck	PROPN
cjfa-33345	141	20	et	et	PROPN
cjfa-33345	141	21	al	al	PROPN
cjfa-33345	141	22	.	.	PROPN
cjfa-33345	141	23	,	,	PUNCT
cjfa-33345	141	24	1988	1988	NUM
cjfa-33345	141	25	)	)	PUNCT
cjfa-33345	141	26	.	.	PUNCT
cjfa-33345	142	1	however	however	ADV
cjfa-33345	142	2	,	,	PUNCT
cjfa-33345	142	3	the	the	DET
cjfa-33345	142	4	use	use	NOUN
cjfa-33345	142	5	of	of	ADP
cjfa-33345	142	6	the	the	DET
cjfa-33345	142	7	square	square	NOUN
cjfa-33345	142	8	of	of	ADP
cjfa-33345	142	9	the	the	DET
cjfa-33345	142	10	total	total	ADJ
cjfa-33345	142	11	assets	asset	NOUN
cjfa-33345	142	12	variable	variable	NOUN
cjfa-33345	142	13	indicates	indicate	VERB
cjfa-33345	142	14	a	a	DET
cjfa-33345	142	15	negative	negative	ADJ
cjfa-33345	142	16	and	and	CCONJ
cjfa-33345	142	17	significant	significant	ADJ
cjfa-33345	142	18	coefficient	coefficient	NOUN
cjfa-33345	142	19	at	at	ADP
cjfa-33345	142	20	a	a	DET
cjfa-33345	142	21	confidence	confidence	NOUN
cjfa-33345	142	22	level	level	NOUN
cjfa-33345	142	23	of	of	ADP
cjfa-33345	142	24	5	5	NUM
cjfa-33345	142	25	%	%	NOUN
cjfa-33345	142	26	.	.	PUNCT
cjfa-33345	143	1	this	this	DET
cjfa-33345	143	2	result	result	NOUN
cjfa-33345	143	3	indicates	indicate	VERB
cjfa-33345	143	4	an	an	DET
cjfa-33345	143	5	improvement	improvement	NOUN
cjfa-33345	143	6	in	in	ADP
cjfa-33345	143	7	performance	performance	NOUN
cjfa-33345	143	8	due	due	ADP
cjfa-33345	143	9	to	to	ADP
cjfa-33345	143	10	the	the	DET
cjfa-33345	143	11	accumulation	accumulation	NOUN
cjfa-33345	143	12	of	of	ADP
cjfa-33345	143	13	assets	asset	NOUN
cjfa-33345	143	14	in	in	ADP
cjfa-33345	143	15	the	the	DET
cjfa-33345	143	16	firm	firm	NOUN
cjfa-33345	143	17	.	.	PUNCT
cjfa-33345	144	1	in	in	ADP
cjfa-33345	144	2	order	order	NOUN
cjfa-33345	144	3	to	to	PART
cjfa-33345	144	4	highlight	highlight	VERB
cjfa-33345	144	5	managerial	managerial	ADJ
cjfa-33345	144	6	incentives	incentive	NOUN
cjfa-33345	144	7	and	and	CCONJ
cjfa-33345	144	8	increase	increase	VERB
cjfa-33345	144	9	the	the	DET
cjfa-33345	144	10	firm	firm	ADJ
cjfa-33345	144	11	size	size	NOUN
cjfa-33345	144	12	,	,	PUNCT
cjfa-33345	144	13	we	we	PRON
cjfa-33345	144	14	added	add	VERB
cjfa-33345	144	15	the	the	DET
cjfa-33345	144	16	variable	variable	NOUN
cjfa-33345	144	17	(	(	PUNCT
cjfa-33345	144	18	total	total	ADJ
cjfa-33345	144	19	table	table	NOUN
cjfa-33345	144	20	3	3	NUM
cjfa-33345	144	21	.	.	PUNCT
cjfa-33345	144	22	modified	modify	VERB
cjfa-33345	144	23	…	…	PUNCT
cjfa-33345	144	24	amira	amira	PROPN
cjfa-33345	144	25	neffati	neffati	PROPN
cjfa-33345	144	26	,	,	PUNCT
cjfa-33345	144	27	wided	wide	VERB
cjfa-33345	144	28	khiari	khiari	PROPN
cjfa-33345	144	29	,	,	PUNCT
cjfa-33345	144	30	azhaar	azhaar	PROPN
cjfa-33345	144	31	lajmi110	lajmi110	PROPN
cjfa-33345	144	32	assets*options	assets*option	NOUN
cjfa-33345	144	33	granted	grant	VERB
cjfa-33345	144	34	)	)	PUNCT
cjfa-33345	144	35	.	.	PUNCT
cjfa-33345	145	1	this	this	DET
cjfa-33345	145	2	variable	variable	NOUN
cjfa-33345	145	3	will	will	AUX
cjfa-33345	145	4	allow	allow	VERB
cjfa-33345	145	5	the	the	DET
cjfa-33345	145	6	study	study	NOUN
cjfa-33345	145	7	of	of	ADP
cjfa-33345	145	8	interactions	interaction	NOUN
cjfa-33345	145	9	between	between	ADP
cjfa-33345	145	10	the	the	DET
cjfa-33345	145	11	variable	variable	NOUN
cjfa-33345	145	12	measuring	measure	VERB
cjfa-33345	145	13	the	the	DET
cjfa-33345	145	14	firm	firm	ADJ
cjfa-33345	145	15	size	size	NOUN
cjfa-33345	145	16	and	and	CCONJ
cjfa-33345	145	17	the	the	DET
cjfa-33345	145	18	managerial	managerial	ADJ
cjfa-33345	145	19	compensation	compensation	NOUN
cjfa-33345	145	20	presented	present	VERB
cjfa-33345	145	21	in	in	ADP
cjfa-33345	145	22	our	our	PRON
cjfa-33345	145	23	study	study	NOUN
cjfa-33345	145	24	through	through	ADP
cjfa-33345	145	25	the	the	DET
cjfa-33345	145	26	variable	variable	ADJ
cjfa-33345	145	27	stock	stock	NOUN
cjfa-33345	145	28	option	option	NOUN
cjfa-33345	145	29	granted	grant	VERB
cjfa-33345	145	30	and	and	CCONJ
cjfa-33345	145	31	its	its	PRON
cjfa-33345	145	32	impact	impact	NOUN
cjfa-33345	145	33	on	on	ADP
cjfa-33345	145	34	banking	banking	NOUN
cjfa-33345	145	35	performance	performance	NOUN
cjfa-33345	145	36	.	.	PUNCT
cjfa-33345	146	1	the	the	DET
cjfa-33345	146	2	regression	regression	NOUN
cjfa-33345	146	3	results	result	NOUN
cjfa-33345	146	4	indicate	indicate	VERB
cjfa-33345	146	5	a	a	DET
cjfa-33345	146	6	positive	positive	ADJ
cjfa-33345	146	7	and	and	CCONJ
cjfa-33345	146	8	significant	significant	ADJ
cjfa-33345	146	9	coefficient	coefficient	NOUN
cjfa-33345	146	10	at	at	ADP
cjfa-33345	146	11	a	a	DET
cjfa-33345	146	12	confidence	confidence	NOUN
cjfa-33345	146	13	level	level	NOUN
cjfa-33345	146	14	of	of	ADP
cjfa-33345	146	15	10	10	NUM
cjfa-33345	146	16	%	%	NOUN
cjfa-33345	146	17	.	.	PUNCT
cjfa-33345	147	1	the	the	DET
cjfa-33345	147	2	coefficient	coefficient	NOUN
cjfa-33345	147	3	generated	generate	VERB
cjfa-33345	147	4	by	by	ADP
cjfa-33345	147	5	the	the	DET
cjfa-33345	147	6	regression	regression	NOUN
cjfa-33345	147	7	equation	equation	NOUN
cjfa-33345	147	8	shows	show	VERB
cjfa-33345	147	9	that	that	SCONJ
cjfa-33345	147	10	increasing	increase	VERB
cjfa-33345	147	11	the	the	DET
cjfa-33345	147	12	percentage	percentage	NOUN
cjfa-33345	147	13	of	of	ADP
cjfa-33345	147	14	stock	stock	NOUN
cjfa-33345	147	15	options	option	NOUN
cjfa-33345	147	16	due	due	ADP
cjfa-33345	147	17	to	to	ADP
cjfa-33345	147	18	an	an	DET
cjfa-33345	147	19	increase	increase	NOUN
cjfa-33345	147	20	in	in	ADP
cjfa-33345	147	21	firm	firm	ADJ
cjfa-33345	147	22	size	size	NOUN
cjfa-33345	147	23	increases	increase	VERB
cjfa-33345	147	24	the	the	DET
cjfa-33345	147	25	deviation	deviation	NOUN
cjfa-33345	147	26	between	between	ADP
cjfa-33345	147	27	the	the	DET
cjfa-33345	147	28	boundary	boundary	ADJ
cjfa-33345	147	29	value	value	NOUN
cjfa-33345	147	30	and	and	CCONJ
cjfa-33345	147	31	the	the	DET
cjfa-33345	147	32	market	market	NOUN
cjfa-33345	147	33	value	value	NOUN
cjfa-33345	147	34	by	by	ADP
cjfa-33345	147	35	the	the	DET
cjfa-33345	147	36	bank	bank	NOUN
cjfa-33345	147	37	.	.	PUNCT
cjfa-33345	148	1	this	this	DET
cjfa-33345	148	2	increase	increase	NOUN
cjfa-33345	148	3	results	result	VERB
cjfa-33345	148	4	in	in	ADP
cjfa-33345	148	5	a	a	DET
cjfa-33345	148	6	deterioration	deterioration	NOUN
cjfa-33345	148	7	of	of	ADP
cjfa-33345	148	8	the	the	DET
cjfa-33345	148	9	value	value	NOUN
cjfa-33345	148	10	of	of	ADP
cjfa-33345	148	11	the	the	DET
cjfa-33345	148	12	firm	firm	NOUN
cjfa-33345	148	13	and	and	CCONJ
cjfa-33345	148	14	affects	affect	VERB
cjfa-33345	148	15	the	the	DET
cjfa-33345	148	16	wealth	wealth	NOUN
cjfa-33345	148	17	of	of	ADP
cjfa-33345	148	18	shareholders	shareholder	NOUN
cjfa-33345	148	19	.	.	PUNCT
cjfa-33345	149	1	this	this	DET
cjfa-33345	149	2	result	result	NOUN
cjfa-33345	149	3	indicates	indicate	VERB
cjfa-33345	149	4	that	that	SCONJ
cjfa-33345	149	5	managers	manager	NOUN
cjfa-33345	149	6	have	have	VERB
cjfa-33345	149	7	incentives	incentive	NOUN
cjfa-33345	149	8	to	to	PART
cjfa-33345	149	9	increase	increase	VERB
cjfa-33345	149	10	the	the	DET
cjfa-33345	149	11	firm	firm	ADJ
cjfa-33345	149	12	size	size	NOUN
cjfa-33345	149	13	and	and	CCONJ
cjfa-33345	149	14	enjoy	enjoy	VERB
cjfa-33345	149	15	better	well	ADJ
cjfa-33345	149	16	compensation	compensation	NOUN
cjfa-33345	149	17	even	even	ADV
cjfa-33345	149	18	if	if	SCONJ
cjfa-33345	149	19	this	this	PRON
cjfa-33345	149	20	negatively	negatively	ADV
cjfa-33345	149	21	affects	affect	VERB
cjfa-33345	149	22	the	the	DET
cjfa-33345	149	23	firm	firm	ADJ
cjfa-33345	149	24	value	value	NOUN
cjfa-33345	149	25	.	.	PUNCT
cjfa-33345	150	1	furthermore	furthermore	ADV
cjfa-33345	150	2	,	,	PUNCT
cjfa-33345	150	3	the	the	DET
cjfa-33345	150	4	correlation	correlation	NOUN
cjfa-33345	150	5	matrix	matrix	NOUN
cjfa-33345	150	6	between	between	ADP
cjfa-33345	150	7	firm	firm	ADJ
cjfa-33345	150	8	size	size	NOUN
cjfa-33345	150	9	and	and	CCONJ
cjfa-33345	150	10	ownership	ownership	NOUN
cjfa-33345	150	11	of	of	ADP
cjfa-33345	150	12	internal	internal	ADJ
cjfa-33345	150	13	is	be	AUX
cjfa-33345	150	14	negative	negative	ADJ
cjfa-33345	150	15	and	and	CCONJ
cjfa-33345	150	16	significant	significant	ADJ
cjfa-33345	150	17	.	.	PUNCT
cjfa-33345	151	1	this	this	PRON
cjfa-33345	151	2	contradicts	contradict	VERB
cjfa-33345	151	3	the	the	DET
cjfa-33345	151	4	findings	finding	NOUN
cjfa-33345	151	5	of	of	ADP
cjfa-33345	151	6	jensen	jensen	PROPN
cjfa-33345	151	7	(	(	PUNCT
cjfa-33345	151	8	1986	1986	NUM
cjfa-33345	151	9	)	)	PUNCT
cjfa-33345	151	10	stating	state	VERB
cjfa-33345	151	11	that	that	SCONJ
cjfa-33345	151	12	managers	manager	NOUN
cjfa-33345	151	13	are	be	AUX
cjfa-33345	151	14	looking	look	VERB
cjfa-33345	151	15	to	to	PART
cjfa-33345	151	16	increase	increase	VERB
cjfa-33345	151	17	the	the	DET
cjfa-33345	151	18	size	size	NOUN
cjfa-33345	151	19	of	of	ADP
cjfa-33345	151	20	their	their	PRON
cjfa-33345	151	21	firms	firm	NOUN
cjfa-33345	151	22	to	to	PART
cjfa-33345	151	23	benefit	benefit	VERB
cjfa-33345	151	24	from	from	ADP
cjfa-33345	151	25	the	the	DET
cjfa-33345	151	26	prestige	prestige	NOUN
cjfa-33345	151	27	of	of	ADP
cjfa-33345	151	28	leadership	leadership	NOUN
cjfa-33345	151	29	of	of	ADP
cjfa-33345	151	30	large	large	ADJ
cjfa-33345	151	31	firms	firm	NOUN
cjfa-33345	151	32	.	.	PUNCT
cjfa-33345	152	1	indeed	indeed	ADV
cjfa-33345	152	2	,	,	PUNCT
cjfa-33345	152	3	this	this	DET
cjfa-33345	152	4	result	result	NOUN
cjfa-33345	152	5	can	can	AUX
cjfa-33345	152	6	be	be	AUX
cjfa-33345	152	7	explained	explain	VERB
cjfa-33345	152	8	by	by	ADP
cjfa-33345	152	9	the	the	DET
cjfa-33345	152	10	fact	fact	NOUN
cjfa-33345	152	11	that	that	SCONJ
cjfa-33345	152	12	banks	bank	NOUN
cjfa-33345	152	13	in	in	ADP
cjfa-33345	152	14	the	the	DET
cjfa-33345	152	15	sample	sample	NOUN
cjfa-33345	152	16	are	be	AUX
cjfa-33345	152	17	banks	bank	NOUN
cjfa-33345	152	18	with	with	ADP
cjfa-33345	152	19	low	low	ADJ
cjfa-33345	152	20	percentage	percentage	NOUN
cjfa-33345	152	21	of	of	ADP
cjfa-33345	152	22	managerial	managerial	ADJ
cjfa-33345	152	23	ownership	ownership	NOUN
cjfa-33345	152	24	.	.	PUNCT
cjfa-33345	153	1	so	so	ADV
cjfa-33345	153	2	,	,	PUNCT
cjfa-33345	153	3	banks	bank	NOUN
cjfa-33345	153	4	that	that	PRON
cjfa-33345	153	5	are	be	AUX
cjfa-33345	153	6	in	in	ADP
cjfa-33345	153	7	the	the	DET
cjfa-33345	153	8	range	range	NOUN
cjfa-33345	153	9	alignment	alignment	NOUN
cjfa-33345	153	10	[	[	X
cjfa-33345	153	11	0	0	NUM
cjfa-33345	153	12	%	%	NOUN
cjfa-33345	153	13	-5	-5	INTJ
cjfa-33345	153	14	%	%	NOUN
cjfa-33345	153	15	]	]	PUNCT
cjfa-33345	153	16	and	and	CCONJ
cjfa-33345	153	17	whose	whose	DET
cjfa-33345	153	18	managers	manager	NOUN
cjfa-33345	153	19	operate	operate	VERB
cjfa-33345	153	20	in	in	ADP
cjfa-33345	153	21	accordance	accordance	NOUN
cjfa-33345	153	22	with	with	ADP
cjfa-33345	153	23	the	the	DET
cjfa-33345	153	24	interests	interest	NOUN
cjfa-33345	153	25	of	of	ADP
cjfa-33345	153	26	shareholders	shareholder	NOUN
cjfa-33345	153	27	,	,	PUNCT
cjfa-33345	153	28	are	be	AUX
cjfa-33345	153	29	further	further	ADJ
cjfa-33345	153	30	to	to	PART
cjfa-33345	153	31	undertake	undertake	VERB
cjfa-33345	153	32	mergers	merger	NOUN
cjfa-33345	153	33	that	that	PRON
cjfa-33345	153	34	destroy	destroy	VERB
cjfa-33345	153	35	value	value	NOUN
cjfa-33345	153	36	.	.	PUNCT
cjfa-33345	153	37	 	 	SPACE
cjfa-33345	154	1	conclusion	conclusion	NOUN
cjfa-33345	154	2	of	of	ADP
cjfa-33345	154	3	the	the	DET
cjfa-33345	154	4	research	research	NOUN
cjfa-33345	154	5	process	process	NOUN
cjfa-33345	154	6	the	the	DET
cjfa-33345	154	7	purpose	purpose	NOUN
cjfa-33345	154	8	of	of	ADP
cjfa-33345	154	9	this	this	DET
cjfa-33345	154	10	paper	paper	NOUN
cjfa-33345	154	11	is	be	AUX
cjfa-33345	154	12	to	to	PART
cjfa-33345	154	13	examine	examine	VERB
cjfa-33345	154	14	the	the	DET
cjfa-33345	154	15	impact	impact	NOUN
cjfa-33345	154	16	of	of	ADP
cjfa-33345	154	17	governance	governance	NOUN
cjfa-33345	154	18	variables	variable	NOUN
cjfa-33345	154	19	on	on	ADP
cjfa-33345	154	20	performance	performance	NOUN
cjfa-33345	154	21	following	follow	VERB
cjfa-33345	154	22	bank	bank	NOUN
cjfa-33345	154	23	mergers	merger	NOUN
cjfa-33345	154	24	.	.	PUNCT
cjfa-33345	155	1	initially	initially	ADV
cjfa-33345	155	2	,	,	PUNCT
cjfa-33345	155	3	we	we	PRON
cjfa-33345	155	4	focused	focus	VERB
cjfa-33345	155	5	on	on	ADP
cjfa-33345	155	6	studying	study	VERB
cjfa-33345	155	7	the	the	DET
cjfa-33345	155	8	relationship	relationship	NOUN
cjfa-33345	155	9	between	between	ADP
cjfa-33345	155	10	managerial	managerial	ADJ
cjfa-33345	155	11	ownership	ownership	NOUN
cjfa-33345	155	12	and	and	CCONJ
cjfa-33345	155	13	the	the	DET
cjfa-33345	155	14	deficit	deficit	NOUN
cjfa-33345	155	15	ratio	ratio	NOUN
cjfa-33345	155	16	.	.	PUNCT
cjfa-33345	156	1	the	the	DET
cjfa-33345	156	2	regression	regression	NOUN
cjfa-33345	156	3	analysis	analysis	NOUN
cjfa-33345	156	4	indicates	indicate	VERB
cjfa-33345	156	5	a	a	DET
cjfa-33345	156	6	positive	positive	ADJ
cjfa-33345	156	7	relationship	relationship	NOUN
cjfa-33345	156	8	between	between	ADP
cjfa-33345	156	9	these	these	DET
cjfa-33345	156	10	two	two	NUM
cjfa-33345	156	11	variables	variable	NOUN
cjfa-33345	156	12	.	.	PUNCT
cjfa-33345	157	1	indeed	indeed	ADV
cjfa-33345	157	2	,	,	PUNCT
cjfa-33345	157	3	the	the	DET
cjfa-33345	157	4	managerial	managerial	ADJ
cjfa-33345	157	5	ownership	ownership	NOUN
cjfa-33345	157	6	improves	improve	VERB
cjfa-33345	157	7	firm	firm	ADJ
cjfa-33345	157	8	performance	performance	NOUN
cjfa-33345	157	9	.	.	PUNCT
cjfa-33345	158	1	then	then	ADV
cjfa-33345	158	2	,	,	PUNCT
cjfa-33345	158	3	the	the	DET
cjfa-33345	158	4	results	result	NOUN
cjfa-33345	158	5	argue	argue	VERB
cjfa-33345	158	6	that	that	SCONJ
cjfa-33345	158	7	an	an	DET
cjfa-33345	158	8	increase	increase	NOUN
cjfa-33345	158	9	in	in	ADP
cjfa-33345	158	10	the	the	DET
cjfa-33345	158	11	percentage	percentage	NOUN
cjfa-33345	158	12	of	of	ADP
cjfa-33345	158	13	this	this	DET
cjfa-33345	158	14	property	property	NOUN
cjfa-33345	158	15	reduces	reduce	VERB
cjfa-33345	158	16	the	the	DET
cjfa-33345	158	17	deviation	deviation	NOUN
cjfa-33345	158	18	between	between	ADP
cjfa-33345	158	19	the	the	DET
cjfa-33345	158	20	achieved	achieve	VERB
cjfa-33345	158	21	boundary	boundary	ADJ
cjfa-33345	158	22	value	value	NOUN
cjfa-33345	158	23	and	and	CCONJ
cjfa-33345	158	24	market	market	NOUN
cjfa-33345	158	25	value	value	NOUN
cjfa-33345	158	26	and	and	CCONJ
cjfa-33345	158	27	therefore	therefore	ADV
cjfa-33345	158	28	creates	create	VERB
cjfa-33345	158	29	the	the	DET
cjfa-33345	158	30	value	value	NOUN
cjfa-33345	158	31	for	for	ADP
cjfa-33345	158	32	the	the	DET
cjfa-33345	158	33	banking	banking	NOUN
cjfa-33345	158	34	firm	firm	NOUN
cjfa-33345	158	35	.	.	PUNCT
cjfa-33345	159	1	regarding	regard	VERB
cjfa-33345	159	2	the	the	DET
cjfa-33345	159	3	board	board	NOUN
cjfa-33345	159	4	size	size	NOUN
cjfa-33345	159	5	,	,	PUNCT
cjfa-33345	159	6	it	it	PRON
cjfa-33345	159	7	is	be	AUX
cjfa-33345	159	8	positively	positively	ADV
cjfa-33345	159	9	correlated	correlate	VERB
cjfa-33345	159	10	to	to	ADP
cjfa-33345	159	11	the	the	DET
cjfa-33345	159	12	ratio	ratio	NOUN
cjfa-33345	159	13	of	of	ADP
cjfa-33345	159	14	the	the	DET
cjfa-33345	159	15	deficit	deficit	NOUN
cjfa-33345	159	16	.	.	PUNCT
cjfa-33345	160	1	so	so	ADV
cjfa-33345	160	2	an	an	DET
cjfa-33345	160	3	increase	increase	NOUN
cjfa-33345	160	4	in	in	ADP
cjfa-33345	160	5	the	the	DET
cjfa-33345	160	6	number	number	NOUN
cjfa-33345	160	7	of	of	ADP
cjfa-33345	160	8	board	board	NOUN
cjfa-33345	160	9	members	member	NOUN
cjfa-33345	160	10	decreases	decrease	VERB
cjfa-33345	160	11	the	the	DET
cjfa-33345	160	12	performance	performance	NOUN
cjfa-33345	160	13	of	of	ADP
cjfa-33345	160	14	the	the	DET
cjfa-33345	160	15	bank	bank	NOUN
cjfa-33345	160	16	following	follow	VERB
cjfa-33345	160	17	mergers	merger	NOUN
cjfa-33345	160	18	.	.	PUNCT
cjfa-33345	161	1	however	however	ADV
cjfa-33345	161	2	,	,	PUNCT
cjfa-33345	161	3	an	an	DET
cjfa-33345	161	4	active	active	ADJ
cjfa-33345	161	5	and	and	CCONJ
cjfa-33345	161	6	large	large	ADJ
cjfa-33345	161	7	audit	audit	NOUN
cjfa-33345	161	8	committee	committee	NOUN
cjfa-33345	161	9	enhances	enhance	VERB
cjfa-33345	161	10	bank	bank	NOUN
cjfa-33345	161	11	performance	performance	NOUN
cjfa-33345	161	12	following	follow	VERB
cjfa-33345	161	13	mergers	merger	NOUN
cjfa-33345	161	14	operations	operation	NOUN
cjfa-33345	161	15	.	.	PUNCT
cjfa-33345	162	1	then	then	ADV
cjfa-33345	162	2	we	we	PRON
cjfa-33345	162	3	discussed	discuss	VERB
cjfa-33345	162	4	the	the	DET
cjfa-33345	162	5	third	third	ADJ
cjfa-33345	162	6	variable	variable	ADJ
cjfa-33345	162	7	governance	governance	NOUN
cjfa-33345	162	8	,	,	PUNCT
cjfa-33345	162	9	which	which	PRON
cjfa-33345	162	10	is	be	AUX
cjfa-33345	162	11	managerial	managerial	ADJ
cjfa-33345	162	12	compensation	compensation	NOUN
cjfa-33345	162	13	.	.	PUNCT
cjfa-33345	163	1	it	it	PRON
cjfa-33345	163	2	is	be	AUX
cjfa-33345	163	3	shown	show	VERB
cjfa-33345	163	4	corporate	corporate	ADJ
cjfa-33345	163	5	governance	governance	NOUN
cjfa-33345	163	6	and	and	CCONJ
cjfa-33345	163	7	post	post	ADJ
cjfa-33345	163	8	-	-	ADJ
cjfa-33345	163	9	merger	merger	ADJ
cjfa-33345	163	10	performance	performance	NOUN
cjfa-33345	163	11	…	…	PUNCT
cjfa-33345	163	12	111	111	NUM
cjfa-33345	163	13	in	in	ADP
cjfa-33345	163	14	this	this	DET
cjfa-33345	163	15	work	work	NOUN
cjfa-33345	163	16	by	by	ADP
cjfa-33345	163	17	the	the	DET
cjfa-33345	163	18	percentage	percentage	NOUN
cjfa-33345	163	19	of	of	ADP
cjfa-33345	163	20	stock	stock	NOUN
cjfa-33345	163	21	options	option	NOUN
cjfa-33345	163	22	granted	grant	VERB
cjfa-33345	163	23	to	to	ADP
cjfa-33345	163	24	managers	manager	NOUN
cjfa-33345	163	25	.	.	PUNCT
cjfa-33345	164	1	this	this	DET
cjfa-33345	164	2	form	form	NOUN
cjfa-33345	164	3	of	of	ADP
cjfa-33345	164	4	compensation	compensation	NOUN
cjfa-33345	164	5	is	be	AUX
cjfa-33345	164	6	linked	link	VERB
cjfa-33345	164	7	to	to	ADP
cjfa-33345	164	8	the	the	DET
cjfa-33345	164	9	market	market	NOUN
cjfa-33345	164	10	value	value	NOUN
cjfa-33345	164	11	of	of	ADP
cjfa-33345	164	12	the	the	DET
cjfa-33345	164	13	firm	firm	NOUN
cjfa-33345	164	14	.	.	PUNCT
cjfa-33345	165	1	the	the	DET
cjfa-33345	165	2	empirical	empirical	ADJ
cjfa-33345	165	3	result	result	NOUN
cjfa-33345	165	4	indicates	indicate	VERB
cjfa-33345	165	5	an	an	DET
cjfa-33345	165	6	improvement	improvement	NOUN
cjfa-33345	165	7	in	in	ADP
cjfa-33345	165	8	banking	banking	NOUN
cjfa-33345	165	9	performance	performance	NOUN
cjfa-33345	165	10	through	through	ADP
cjfa-33345	165	11	the	the	DET
cjfa-33345	165	12	award	award	NOUN
cjfa-33345	165	13	of	of	ADP
cjfa-33345	165	14	such	such	ADJ
cjfa-33345	165	15	shares	share	NOUN
cjfa-33345	165	16	to	to	ADP
cjfa-33345	165	17	managers	manager	NOUN
cjfa-33345	165	18	.	.	PUNCT
cjfa-33345	166	1	the	the	DET
cjfa-33345	166	2	last	last	ADJ
cjfa-33345	166	3	part	part	NOUN
cjfa-33345	166	4	of	of	ADP
cjfa-33345	166	5	this	this	DET
cjfa-33345	166	6	article	article	NOUN
cjfa-33345	166	7	was	be	AUX
cjfa-33345	166	8	devoted	devote	VERB
cjfa-33345	166	9	to	to	ADP
cjfa-33345	166	10	the	the	DET
cjfa-33345	166	11	study	study	NOUN
cjfa-33345	166	12	of	of	ADP
cjfa-33345	166	13	the	the	DET
cjfa-33345	166	14	effect	effect	NOUN
cjfa-33345	166	15	of	of	ADP
cjfa-33345	166	16	increasing	increase	VERB
cjfa-33345	166	17	the	the	DET
cjfa-33345	166	18	asset	asset	NOUN
cjfa-33345	166	19	size	size	NOUN
cjfa-33345	166	20	and	and	CCONJ
cjfa-33345	166	21	performance	performance	NOUN
cjfa-33345	166	22	in	in	ADP
cjfa-33345	166	23	order	order	NOUN
cjfa-33345	166	24	to	to	PART
cjfa-33345	166	25	test	test	VERB
cjfa-33345	166	26	the	the	DET
cjfa-33345	166	27	existence	existence	NOUN
cjfa-33345	166	28	of	of	ADP
cjfa-33345	166	29	the	the	DET
cjfa-33345	166	30	phenomenon	phenomenon	NOUN
cjfa-33345	166	31	of	of	ADP
cjfa-33345	166	32	empire	empire	NOUN
cjfa-33345	166	33	building	building	NOUN
cjfa-33345	166	34	.	.	PUNCT
cjfa-33345	167	1	in	in	ADP
cjfa-33345	167	2	presence	presence	NOUN
cjfa-33345	167	3	of	of	ADP
cjfa-33345	167	4	this	this	DET
cjfa-33345	167	5	phenomenon	phenomenon	NOUN
cjfa-33345	167	6	,	,	PUNCT
cjfa-33345	167	7	managers	manager	NOUN
cjfa-33345	167	8	initiate	initiate	VERB
cjfa-33345	167	9	mergers	merger	NOUN
cjfa-33345	167	10	operations	operation	NOUN
cjfa-33345	167	11	that	that	PRON
cjfa-33345	167	12	destroy	destroy	VERB
cjfa-33345	167	13	value	value	NOUN
cjfa-33345	167	14	just	just	ADV
cjfa-33345	167	15	for	for	ADP
cjfa-33345	167	16	the	the	DET
cjfa-33345	167	17	prestige	prestige	NOUN
cjfa-33345	167	18	of	of	ADP
cjfa-33345	167	19	managing	manage	VERB
cjfa-33345	167	20	larger	large	ADJ
cjfa-33345	167	21	firms	firm	NOUN
cjfa-33345	167	22	and	and	CCONJ
cjfa-33345	167	23	have	have	VERB
cjfa-33345	167	24	a	a	DET
cjfa-33345	167	25	better	well	ADJ
cjfa-33345	167	26	compensation	compensation	NOUN
cjfa-33345	167	27	.	.	PUNCT
cjfa-33345	168	1	the	the	DET
cjfa-33345	168	2	results	result	NOUN
cjfa-33345	168	3	indicate	indicate	VERB
cjfa-33345	168	4	that	that	DET
cjfa-33345	168	5	firm	firm	ADJ
cjfa-33345	168	6	size	size	NOUN
cjfa-33345	168	7	is	be	AUX
cjfa-33345	168	8	negatively	negatively	ADV
cjfa-33345	168	9	related	relate	VERB
cjfa-33345	168	10	to	to	ADP
cjfa-33345	168	11	performance	performance	NOUN
cjfa-33345	168	12	.	.	PUNCT
cjfa-33345	169	1	however	however	ADV
cjfa-33345	169	2	,	,	PUNCT
cjfa-33345	169	3	using	use	VERB
cjfa-33345	169	4	the	the	DET
cjfa-33345	169	5	square	square	NOUN
cjfa-33345	169	6	of	of	ADP
cjfa-33345	169	7	the	the	DET
cjfa-33345	169	8	variable	variable	ADJ
cjfa-33345	169	9	total	total	ADJ
cjfa-33345	169	10	assets	asset	NOUN
cjfa-33345	169	11	gives	give	VERB
cjfa-33345	169	12	us	we	PRON
cjfa-33345	169	13	opposite	opposite	ADJ
cjfa-33345	169	14	results	result	NOUN
cjfa-33345	169	15	indicating	indicate	VERB
cjfa-33345	169	16	that	that	SCONJ
cjfa-33345	169	17	an	an	DET
cjfa-33345	169	18	increase	increase	NOUN
cjfa-33345	169	19	in	in	ADP
cjfa-33345	169	20	bank	bank	NOUN
cjfa-33345	169	21	assets	asset	NOUN
cjfa-33345	169	22	improves	improve	VERB
cjfa-33345	169	23	performance	performance	NOUN
cjfa-33345	169	24	and	and	CCONJ
cjfa-33345	169	25	denounces	denounce	VERB
cjfa-33345	169	26	the	the	DET
cjfa-33345	169	27	existence	existence	NOUN
cjfa-33345	169	28	of	of	ADP
cjfa-33345	169	29	the	the	DET
cjfa-33345	169	30	phenomenon	phenomenon	NOUN
cjfa-33345	169	31	of	of	ADP
cjfa-33345	169	32	empire	empire	NOUN
cjfa-33345	169	33	building	building	NOUN
cjfa-33345	169	34	.	.	PUNCT
cjfa-33345	170	1	finally	finally	ADV
cjfa-33345	170	2	,	,	PUNCT
cjfa-33345	170	3	the	the	DET
cjfa-33345	170	4	results	result	NOUN
cjfa-33345	170	5	found	find	VERB
cjfa-33345	170	6	in	in	ADP
cjfa-33345	170	7	this	this	DET
cjfa-33345	170	8	study	study	NOUN
cjfa-33345	170	9	indicate	indicate	VERB
cjfa-33345	170	10	an	an	DET
cjfa-33345	170	11	improvement	improvement	NOUN
cjfa-33345	170	12	in	in	ADP
cjfa-33345	170	13	the	the	DET
cjfa-33345	170	14	performance	performance	NOUN
cjfa-33345	170	15	following	follow	VERB
cjfa-33345	170	16	bank	bank	NOUN
cjfa-33345	170	17	mergers	merger	NOUN
cjfa-33345	170	18	as	as	SCONJ
cjfa-33345	170	19	supported	support	VERB
cjfa-33345	170	20	by	by	ADP
cjfa-33345	170	21	many	many	ADJ
cjfa-33345	170	22	other	other	ADJ
cjfa-33345	170	23	researches	research	NOUN
cjfa-33345	170	24	(	(	PUNCT
cjfa-33345	170	25	hagendorff	hagendorff	NOUN
cjfa-33345	170	26	&	&	CCONJ
cjfa-33345	170	27	keasey	keasey	ADJ
cjfa-33345	170	28	,	,	PUNCT
cjfa-33345	170	29	2009	2009	NUM
cjfa-33345	170	30	)	)	PUNCT
cjfa-33345	170	31	.	.	PUNCT
cjfa-33345	171	1	but	but	CCONJ
cjfa-33345	171	2	it	it	PRON
cjfa-33345	171	3	also	also	ADV
cjfa-33345	171	4	must	must	AUX
cjfa-33345	171	5	be	be	AUX
cjfa-33345	171	6	considered	consider	VERB
cjfa-33345	171	7	that	that	SCONJ
cjfa-33345	171	8	merger	merger	NOUN
cjfa-33345	171	9	in	in	ADP
cjfa-33345	171	10	itself	itself	PRON
cjfa-33345	171	11	is	be	AUX
cjfa-33345	171	12	not	not	PART
cjfa-33345	171	13	the	the	DET
cjfa-33345	171	14	ultimate	ultimate	ADJ
cjfa-33345	171	15	solution	solution	NOUN
cjfa-33345	171	16	to	to	PART
cjfa-33345	171	17	strengthen	strengthen	VERB
cjfa-33345	171	18	the	the	DET
cjfa-33345	171	19	financial	financial	ADJ
cjfa-33345	171	20	position	position	NOUN
cjfa-33345	171	21	of	of	ADP
cjfa-33345	171	22	banks	bank	NOUN
cjfa-33345	171	23	.	.	PUNCT
cjfa-33345	172	1	a	a	DET
cjfa-33345	172	2	lot	lot	NOUN
cjfa-33345	172	3	of	of	ADP
cjfa-33345	172	4	factors	factor	NOUN
cjfa-33345	172	5	,	,	PUNCT
cjfa-33345	172	6	related	relate	VERB
cjfa-33345	172	7	to	to	ADP
cjfa-33345	172	8	the	the	DET
cjfa-33345	172	9	specifities	specifitie	NOUN
cjfa-33345	172	10	of	of	ADP
cjfa-33345	172	11	the	the	DET
cjfa-33345	172	12	banks	bank	NOUN
cjfa-33345	172	13	,	,	PUNCT
cjfa-33345	172	14	must	must	AUX
cjfa-33345	172	15	be	be	AUX
cjfa-33345	172	16	taken	take	VERB
cjfa-33345	172	17	into	into	ADP
cjfa-33345	172	18	account	account	NOUN
cjfa-33345	172	19	before	before	ADP
cjfa-33345	172	20	finding	find	VERB
cjfa-33345	172	21	the	the	DET
cjfa-33345	172	22	right	right	ADJ
cjfa-33345	172	23	partener	partener	NOUN
cjfa-33345	172	24	to	to	AUX
cjfa-33345	172	25	merger	merger	VERB
cjfa-33345	172	26	with	with	ADP
cjfa-33345	172	27	and	and	CCONJ
cjfa-33345	172	28	executing	execute	VERB
cjfa-33345	172	29	the	the	DET
cjfa-33345	172	30	merger	merger	NOUN
cjfa-33345	172	31	.	.	PUNCT
cjfa-33345	173	1	but	but	CCONJ
cjfa-33345	173	2	it	it	PRON
cjfa-33345	173	3	’s	’s	AUX
cjfa-33345	173	4	also	also	ADV
cjfa-33345	173	5	observed	observe	VERB
cjfa-33345	173	6	,	,	PUNCT
cjfa-33345	173	7	in	in	ADP
cjfa-33345	173	8	many	many	ADJ
cjfa-33345	173	9	previous	previous	ADJ
cjfa-33345	173	10	researches	research	NOUN
cjfa-33345	173	11	,	,	PUNCT
cjfa-33345	173	12	that	that	DET
cjfa-33345	173	13	merger	merger	NOUN
cjfa-33345	173	14	may	may	AUX
cjfa-33345	173	15	not	not	PART
cjfa-33345	173	16	have	have	VERB
cjfa-33345	173	17	positive	positive	ADJ
cjfa-33345	173	18	impact	impact	NOUN
cjfa-33345	173	19	on	on	ADP
cjfa-33345	173	20	performance	performance	NOUN
cjfa-33345	173	21	.	.	PUNCT
cjfa-33345	174	1	this	this	PRON
cjfa-33345	174	2	can	can	AUX
cjfa-33345	174	3	be	be	AUX
cjfa-33345	174	4	explained	explain	VERB
cjfa-33345	174	5	mainly	mainly	ADV
cjfa-33345	174	6	by	by	ADP
cjfa-33345	174	7	the	the	DET
cjfa-33345	174	8	specificity	specificity	NOUN
cjfa-33345	174	9	of	of	ADP
cjfa-33345	174	10	the	the	DET
cjfa-33345	174	11	study	study	NOUN
cjfa-33345	174	12	sample	sample	NOUN
cjfa-33345	174	13	.	.	PUNCT
cjfa-33345	175	1	as	as	ADV
cjfa-33345	175	2	all	all	DET
cjfa-33345	175	3	research	research	NOUN
cjfa-33345	175	4	works	work	VERB
cjfa-33345	175	5	,	,	PUNCT
cjfa-33345	175	6	our	our	PRON
cjfa-33345	175	7	article	article	NOUN
cjfa-33345	175	8	presents	present	VERB
cjfa-33345	175	9	some	some	DET
cjfa-33345	175	10	limits	limit	NOUN
cjfa-33345	175	11	related	relate	VERB
cjfa-33345	175	12	to	to	ADP
cjfa-33345	175	13	the	the	DET
cjfa-33345	175	14	sample	sample	NOUN
cjfa-33345	175	15	used	use	VERB
cjfa-33345	175	16	.	.	PUNCT
cjfa-33345	176	1	the	the	DET
cjfa-33345	176	2	latter	latter	ADJ
cjfa-33345	176	3	is	be	AUX
cjfa-33345	176	4	relatively	relatively	ADV
cjfa-33345	176	5	small	small	ADJ
cjfa-33345	176	6	wich	wich	PRON
cjfa-33345	176	7	provides	provide	VERB
cjfa-33345	176	8	an	an	DET
cjfa-33345	176	9	opportunity	opportunity	NOUN
cjfa-33345	176	10	to	to	ADP
cjfa-33345	176	11	other	other	ADJ
cjfa-33345	176	12	studies	study	NOUN
cjfa-33345	176	13	to	to	PART
cjfa-33345	176	14	take	take	VERB
cjfa-33345	176	15	larger	large	ADJ
cjfa-33345	176	16	sample	sample	NOUN
cjfa-33345	176	17	for	for	ADP
cjfa-33345	176	18	better	well	ADJ
cjfa-33345	176	19	results	result	NOUN
cjfa-33345	176	20	.	.	PUNCT
cjfa-33345	177	1	finally	finally	ADV
cjfa-33345	177	2	,	,	PUNCT
cjfa-33345	177	3	results	result	NOUN
cjfa-33345	177	4	can	can	AUX
cjfa-33345	177	5	serve	serve	VERB
cjfa-33345	177	6	as	as	ADP
cjfa-33345	177	7	a	a	DET
cjfa-33345	177	8	basis	basis	NOUN
cjfa-33345	177	9	for	for	ADP
cjfa-33345	177	10	policy	policy	NOUN
cjfa-33345	177	11	makers	maker	NOUN
cjfa-33345	177	12	and	and	CCONJ
cjfa-33345	177	13	scholars	scholar	NOUN
cjfa-33345	177	14	alike	alike	ADV
cjfa-33345	177	15	.	.	PUNCT
cjfa-33345	177	16	 	 	SPACE
cjfa-33345	178	1	references	reference	NOUN
cjfa-33345	178	2	adams	adams	PROPN
cjfa-33345	178	3	,	,	PUNCT
cjfa-33345	178	4	r.m	r.m	PROPN
cjfa-33345	178	5	.	.	PROPN
cjfa-33345	178	6	(	(	PUNCT
cjfa-33345	178	7	2012	2012	NUM
cjfa-33345	178	8	)	)	PUNCT
cjfa-33345	178	9	.	.	PUNCT
cjfa-33345	179	1	consolidation	consolidation	NOUN
cjfa-33345	179	2	and	and	CCONJ
cjfa-33345	179	3	merger	merger	NOUN
cjfa-33345	179	4	activity	activity	NOUN
cjfa-33345	179	5	in	in	ADP
cjfa-33345	179	6	the	the	DET
cjfa-33345	179	7	united	united	PROPN
cjfa-33345	179	8	states	states	PROPN
cjfa-33345	179	9	banking	banking	NOUN
cjfa-33345	179	10	industry	industry	NOUN
cjfa-33345	179	11	from	from	ADP
cjfa-33345	179	12	2000	2000	NUM
cjfa-33345	179	13	through	through	ADP
cjfa-33345	179	14	2010	2010	NUM
cjfa-33345	179	15	.	.	PUNCT
cjfa-33345	180	1	washington	washington	PROPN
cjfa-33345	180	2	dc	dc	PROPN
cjfa-33345	180	3	:	:	PUNCT
cjfa-33345	180	4	the	the	DET
cjfa-33345	180	5	federal	federal	PROPN
cjfa-33345	180	6	reserve	reserve	PROPN
cjfa-33345	180	7	board	board	PROPN
cjfa-33345	180	8	.	.	PUNCT
cjfa-33345	181	1	al	al	PROPN
cjfa-33345	181	2	-	-	PUNCT
cjfa-33345	181	3	sharkas	sharkas	PROPN
cjfa-33345	181	4	,	,	PUNCT
cjfa-33345	181	5	a.a	a.a	PROPN
cjfa-33345	181	6	,	,	PUNCT
cjfa-33345	181	7	hassan	hassan	PROPN
cjfa-33345	181	8	,	,	PUNCT
cjfa-33345	181	9	m.k	m.k	PROPN
cjfa-33345	181	10	.	.	PROPN
cjfa-33345	181	11	,	,	PUNCT
cjfa-33345	181	12	&	&	CCONJ
cjfa-33345	181	13	lawrence	lawrence	PROPN
cjfa-33345	181	14	,	,	PUNCT
cjfa-33345	181	15	s.	s.	PROPN
cjfa-33345	181	16	(	(	PUNCT
cjfa-33345	181	17	2008	2008	NUM
cjfa-33345	181	18	)	)	PUNCT
cjfa-33345	181	19	.	.	PUNCT
cjfa-33345	182	1	the	the	DET
cjfa-33345	182	2	impact	impact	NOUN
cjfa-33345	182	3	of	of	ADP
cjfa-33345	182	4	mergers	merger	NOUN
cjfa-33345	182	5	and	and	CCONJ
cjfa-33345	182	6	acquisitions	acquisition	NOUN
cjfa-33345	182	7	on	on	ADP
cjfa-33345	182	8	the	the	DET
cjfa-33345	182	9	efficiency	efficiency	NOUN
cjfa-33345	182	10	of	of	ADP
cjfa-33345	182	11	the	the	DET
cjfa-33345	182	12	us	us	PROPN
cjfa-33345	182	13	banking	banking	NOUN
cjfa-33345	182	14	industry	industry	NOUN
cjfa-33345	182	15	:	:	PUNCT
cjfa-33345	182	16	further	further	ADJ
cjfa-33345	182	17	evidence	evidence	NOUN
cjfa-33345	182	18	.	.	PUNCT
cjfa-33345	183	1	journal	journal	NOUN
cjfa-33345	183	2	of	of	ADP
cjfa-33345	183	3	business	business	NOUN
cjfa-33345	183	4	finance	finance	NOUN
cjfa-33345	183	5	and	and	CCONJ
cjfa-33345	183	6	accounting	accounting	NOUN
cjfa-33345	183	7	,	,	PUNCT
cjfa-33345	183	8	35(1	35(1	NOUN
cjfa-33345	183	9	-	-	PUNCT
cjfa-33345	183	10	2	2	NUM
cjfa-33345	183	11	)	)	PUNCT
cjfa-33345	183	12	,	,	PUNCT
cjfa-33345	183	13	50	50	NUM
cjfa-33345	183	14	-	-	SYM
cjfa-33345	183	15	70	70	NUM
cjfa-33345	183	16	.	.	PUNCT
cjfa-33345	184	1	http://dx.doi.org/10.1111/j.14685957.2007.02059.x	http://dx.doi.org/10.1111/j.14685957.2007.02059.x	PROPN
cjfa-33345	184	2	.	.	PUNCT
cjfa-33345	184	3	attari	attari	PROPN
cjfa-33345	184	4	,	,	PUNCT
cjfa-33345	184	5	m.	m.	NOUN
cjfa-33345	184	6	,	,	PUNCT
cjfa-33345	184	7	&	&	CCONJ
cjfa-33345	184	8	banerjee	banerjee	PROPN
cjfa-33345	184	9	,	,	PUNCT
cjfa-33345	184	10	s.	s.	PROPN
cjfa-33345	184	11	(	(	PUNCT
cjfa-33345	184	12	2000	2000	NUM
cjfa-33345	184	13	)	)	PUNCT
cjfa-33345	184	14	.	.	PUNCT
cjfa-33345	185	1	strategic	strategic	ADJ
cjfa-33345	185	2	underinvestment	underinvestment	NOUN
cjfa-33345	185	3	:	:	PUNCT
cjfa-33345	185	4	managerial	managerial	ADJ
cjfa-33345	185	5	entrenchment	entrenchment	NOUN
cjfa-33345	185	6	and	and	CCONJ
cjfa-33345	185	7	the	the	DET
cjfa-33345	185	8	ownership	ownership	NOUN
cjfa-33345	185	9	structure	structure	NOUN
cjfa-33345	185	10	of	of	ADP
cjfa-33345	185	11	firm	firm	NOUN
cjfa-33345	185	12	.	.	PUNCT
cjfa-33345	186	1	working	work	VERB
cjfa-33345	186	2	paper	paper	NOUN
cjfa-33345	186	3	ssrn	ssrn	NOUN
cjfa-33345	186	4	.	.	PUNCT
cjfa-33345	187	1	http://dx.doi	http://dx.doi	NOUN
cjfa-33345	187	2	.	.	PUNCT
cjfa-33345	188	1	org/10.2139	org/10.2139	PROPN
cjfa-33345	188	2	/	/	SYM
cjfa-33345	188	3	ssrn.135718	ssrn.135718	PROPN
cjfa-33345	188	4	.	.	PUNCT
cjfa-33345	188	5	benston	benston	NOUN
cjfa-33345	188	6	,	,	PUNCT
cjfa-33345	188	7	g.	g.	PROPN
cjfa-33345	188	8	j.	j.	PROPN
cjfa-33345	189	1	(	(	PUNCT
cjfa-33345	189	2	1985).the	1985).the	DET
cjfa-33345	189	3	validity	validity	NOUN
cjfa-33345	189	4	of	of	ADP
cjfa-33345	189	5	profits	profit	NOUN
cjfa-33345	189	6	-	-	PUNCT
cjfa-33345	189	7	structure	structure	NOUN
cjfa-33345	189	8	studies	study	NOUN
cjfa-33345	189	9	with	with	ADP
cjfa-33345	189	10	particular	particular	ADJ
cjfa-33345	189	11	reference	reference	NOUN
cjfa-33345	189	12	to	to	ADP
cjfa-33345	189	13	the	the	DET
cjfa-33345	189	14	ftc	ftc	PROPN
cjfa-33345	189	15	’s	’s	PART
cjfa-33345	189	16	line	line	NOUN
cjfa-33345	189	17	of	of	ADP
cjfa-33345	189	18	business	business	NOUN
cjfa-33345	189	19	data	datum	NOUN
cjfa-33345	189	20	.	.	PUNCT
cjfa-33345	190	1	american	american	PROPN
cjfa-33345	190	2	economic	economic	PROPN
cjfa-33345	190	3	review	review	PROPN
cjfa-33345	190	4	,	,	PUNCT
cjfa-33345	190	5	75(1	75(1	NOUN
cjfa-33345	190	6	)	)	PUNCT
cjfa-33345	190	7	,	,	PUNCT
cjfa-33345	190	8	37–67	37–67	NUM
cjfa-33345	190	9	.	.	PUNCT
cjfa-33345	191	1	amira	amira	PROPN
cjfa-33345	191	2	neffati	neffati	PROPN
cjfa-33345	191	3	,	,	PUNCT
cjfa-33345	191	4	wided	wide	VERB
cjfa-33345	191	5	khiari	khiari	PROPN
cjfa-33345	191	6	,	,	PUNCT
cjfa-33345	191	7	azhaar	azhaar	NOUN
cjfa-33345	191	8	lajmi112	lajmi112	PROPN
cjfa-33345	191	9	brickley	brickley	ADJ
cjfa-33345	191	10	,	,	PUNCT
cjfa-33345	191	11	j.a	j.a	PROPN
cjfa-33345	191	12	.	.	PROPN
cjfa-33345	191	13	,	,	PUNCT
cjfa-33345	191	14	coles	coles	PROPN
cjfa-33345	191	15	,	,	PUNCT
cjfa-33345	191	16	j.l	j.l	PROPN
cjfa-33345	191	17	.	.	PROPN
cjfa-33345	191	18	,	,	PUNCT
cjfa-33345	191	19	&	&	CCONJ
cjfa-33345	191	20	terry	terry	PROPN
cjfa-33345	191	21	,	,	PUNCT
cjfa-33345	191	22	r.l	r.l	PROPN
cjfa-33345	191	23	.	.	PROPN
cjfa-33345	191	24	(	(	PUNCT
cjfa-33345	191	25	1994	1994	NUM
cjfa-33345	191	26	)	)	PUNCT
cjfa-33345	191	27	.	.	PUNCT
cjfa-33345	192	1	outside	outside	ADJ
cjfa-33345	192	2	directors	director	NOUN
cjfa-33345	192	3	and	and	CCONJ
cjfa-33345	192	4	the	the	DET
cjfa-33345	192	5	adoption	adoption	NOUN
cjfa-33345	192	6	of	of	ADP
cjfa-33345	192	7	poison	poison	NOUN
cjfa-33345	192	8	pills	pill	NOUN
cjfa-33345	192	9	.	.	PUNCT
cjfa-33345	193	1	journal	journal	PROPN
cjfa-33345	193	2	of	of	ADP
cjfa-33345	193	3	financial	financial	ADJ
cjfa-33345	193	4	economics	economic	NOUN
cjfa-33345	193	5	,	,	PUNCT
cjfa-33345	193	6	35(3	35(3	NUM
cjfa-33345	193	7	)	)	PUNCT
cjfa-33345	193	8	,	,	PUNCT
cjfa-33345	193	9	371	371	NUM
cjfa-33345	193	10	-	-	SYM
cjfa-33345	193	11	390	390	NUM
cjfa-33345	193	12	.	.	PUNCT
cjfa-33345	194	1	http://dx.doi	http://dx.doi	NOUN
cjfa-33345	194	2	.	.	PUNCT
cjfa-33345	195	1	org/10.1016/0304	org/10.1016/0304	NUM
cjfa-33345	195	2	-	-	PUNCT
cjfa-33345	195	3	405x(94)90038	405x(94)90038	NOUN
cjfa-33345	195	4	-	-	PUNCT
cjfa-33345	195	5	8	8	NUM
cjfa-33345	195	6	.	.	PUNCT
cjfa-33345	196	1	carcello	carcello	PROPN
cjfa-33345	196	2	,	,	PUNCT
cjfa-33345	196	3	j.v	j.v	PROPN
cjfa-33345	196	4	.	.	PROPN
cjfa-33345	196	5	,	,	PUNCT
cjfa-33345	196	6	&	&	CCONJ
cjfa-33345	196	7	neal	neal	PROPN
cjfa-33345	196	8	,	,	PUNCT
cjfa-33345	196	9	t.l	t.l	PROPN
cjfa-33345	196	10	.	.	PUNCT
cjfa-33345	196	11	(	(	PUNCT
cjfa-33345	196	12	2000	2000	NUM
cjfa-33345	196	13	)	)	PUNCT
cjfa-33345	196	14	.	.	PUNCT
cjfa-33345	197	1	audit	audit	NOUN
cjfa-33345	197	2	committee	committee	NOUN
cjfa-33345	197	3	characteristics	characteristic	NOUN
cjfa-33345	197	4	and	and	CCONJ
cjfa-33345	197	5	auditor	auditor	NOUN
cjfa-33345	197	6	reporting	reporting	NOUN
cjfa-33345	197	7	.	.	PUNCT
cjfa-33345	198	1	working	work	VERB
cjfa-33345	198	2	paper	paper	NOUN
cjfa-33345	198	3	ssrn	ssrn	NOUN
cjfa-33345	198	4	.	.	PUNCT
cjfa-33345	199	1	http://dx.doi.org/10.2139/ssrn.53917	http://dx.doi.org/10.2139/ssrn.53917	X
cjfa-33345	199	2	.	.	PUNCT
cjfa-33345	200	1	dutescu	dutescu	PROPN
cjfa-33345	200	2	,	,	PUNCT
cjfa-33345	200	3	a.	a.	NOUN
cjfa-33345	200	4	,	,	PUNCT
cjfa-33345	200	5	ponorica	ponorica	PROPN
cjfa-33345	200	6	,	,	PUNCT
cjfa-33345	200	7	a.g	a.g	PROPN
cjfa-33345	200	8	.	.	PROPN
cjfa-33345	200	9	,	,	PUNCT
cjfa-33345	200	10	&	&	CCONJ
cjfa-33345	200	11	stanila	stanila	PROPN
cjfa-33345	200	12	,	,	PUNCT
cjfa-33345	200	13	g.o	g.o	PROPN
cjfa-33345	200	14	.	.	PROPN
cjfa-33345	200	15	(	(	PUNCT
cjfa-33345	200	16	2013	2013	NUM
cjfa-33345	200	17	)	)	PUNCT
cjfa-33345	200	18	.	.	PUNCT
cjfa-33345	201	1	effects	effect	NOUN
cjfa-33345	201	2	of	of	ADP
cjfa-33345	201	3	mergers	merger	NOUN
cjfa-33345	201	4	and	and	CCONJ
cjfa-33345	201	5	acquisitions	acquisition	NOUN
cjfa-33345	201	6	on	on	ADP
cjfa-33345	201	7	financial	financial	ADJ
cjfa-33345	201	8	performance	performance	NOUN
cjfa-33345	201	9	of	of	ADP
cjfa-33345	201	10	the	the	DET
cjfa-33345	201	11	target	target	NOUN
cjfa-33345	201	12	company	company	NOUN
cjfa-33345	201	13	.	.	PUNCT
cjfa-33345	202	1	challenges	challenge	NOUN
cjfa-33345	202	2	of	of	ADP
cjfa-33345	202	3	the	the	DET
cjfa-33345	202	4	knowledge	knowledge	NOUN
cjfa-33345	202	5	society	society	NOUN
cjfa-33345	202	6	.	.	PUNCT
cjfa-33345	203	1	finance	finance	NOUN
cjfa-33345	203	2	and	and	CCONJ
cjfa-33345	203	3	accounting	accounting	NOUN
cjfa-33345	203	4	.	.	PUNCT
cjfa-33345	204	1	hagendorff	hagendorff	PROPN
cjfa-33345	204	2	,	,	PUNCT
cjfa-33345	204	3	j.	j.	PROPN
cjfa-33345	204	4	,	,	PUNCT
cjfa-33345	204	5	&	&	CCONJ
cjfa-33345	204	6	keasey	keasey	PROPN
cjfa-33345	204	7	,	,	PUNCT
cjfa-33345	204	8	k.	k.	PROPN
cjfa-33345	204	9	(	(	PUNCT
cjfa-33345	204	10	2009	2009	NUM
cjfa-33345	204	11	)	)	PUNCT
cjfa-33345	204	12	.	.	PUNCT
cjfa-33345	205	1	post	post	ADJ
cjfa-33345	205	2	-	-	ADJ
cjfa-33345	205	3	merger	merger	ADJ
cjfa-33345	205	4	strategy	strategy	NOUN
cjfa-33345	205	5	and	and	CCONJ
cjfa-33345	205	6	performance	performance	NOUN
cjfa-33345	205	7	:	:	PUNCT
cjfa-33345	205	8	evidence	evidence	NOUN
cjfa-33345	205	9	from	from	ADP
cjfa-33345	205	10	the	the	DET
cjfa-33345	205	11	us	us	PROPN
cjfa-33345	205	12	and	and	CCONJ
cjfa-33345	205	13	european	european	ADJ
cjfa-33345	205	14	banking	banking	NOUN
cjfa-33345	205	15	industries	industry	NOUN
cjfa-33345	205	16	.	.	PUNCT
cjfa-33345	206	1	accounting	accounting	NOUN
cjfa-33345	206	2	and	and	CCONJ
cjfa-33345	206	3	finance	finance	NOUN
cjfa-33345	206	4	,	,	PUNCT
cjfa-33345	206	5	49(4	49(4	NOUN
cjfa-33345	206	6	)	)	PUNCT
cjfa-33345	206	7	,	,	PUNCT
cjfa-33345	206	8	725-	725-	NUM
cjfa-33345	206	9	 	 	SPACE
cjfa-33345	206	10	751	751	NUM
cjfa-33345	206	11	.	.	PUNCT
cjfa-33345	207	1	http://dx.doi.org/10.1111/j.1467-629x.2009.00306.x	http://dx.doi.org/10.1111/j.1467-629x.2009.00306.x	PROPN
cjfa-33345	207	2	.	.	PROPN
cjfa-33345	207	3	hanson	hanson	PROPN
cjfa-33345	207	4	,	,	PUNCT
cjfa-33345	207	5	r.c	r.c	PROPN
cjfa-33345	207	6	.	.	PROPN
cjfa-33345	207	7	,	,	PUNCT
cjfa-33345	207	8	&	&	CCONJ
cjfa-33345	207	9	song	song	PROPN
cjfa-33345	207	10	,	,	PUNCT
cjfa-33345	207	11	m.h	m.h	PROPN
cjfa-33345	207	12	.	.	PROPN
cjfa-33345	207	13	(	(	PUNCT
cjfa-33345	207	14	1997	1997	NUM
cjfa-33345	207	15	)	)	PUNCT
cjfa-33345	207	16	.	.	PUNCT
cjfa-33345	208	1	managerial	managerial	ADJ
cjfa-33345	208	2	ownership	ownership	NOUN
cjfa-33345	208	3	,	,	PUNCT
cjfa-33345	208	4	board	board	NOUN
cjfa-33345	208	5	structure	structure	NOUN
cjfa-33345	208	6	and	and	CCONJ
cjfa-33345	208	7	the	the	DET
cjfa-33345	208	8	division	division	NOUN
cjfa-33345	208	9	of	of	ADP
cjfa-33345	208	10	gains	gain	NOUN
cjfa-33345	208	11	in	in	ADP
cjfa-33345	208	12	divestitures	divestiture	NOUN
cjfa-33345	208	13	.	.	PUNCT
cjfa-33345	209	1	working	work	VERB
cjfa-33345	209	2	paper	paper	NOUN
cjfa-33345	209	3	ssrn	ssrn	NOUN
cjfa-33345	209	4	.	.	PUNCT
cjfa-33345	210	1	hermalin	hermalin	PROPN
cjfa-33345	210	2	,	,	PUNCT
cjfa-33345	210	3	b.	b.	PROPN
cjfa-33345	210	4	,	,	PUNCT
cjfa-33345	210	5	&	&	CCONJ
cjfa-33345	210	6	weisbach	weisbach	PROPN
cjfa-33345	210	7	,	,	PUNCT
cjfa-33345	210	8	m.s	m.s	PROPN
cjfa-33345	210	9	.	.	PROPN
cjfa-33345	210	10	(	(	PUNCT
cjfa-33345	210	11	1988	1988	NUM
cjfa-33345	210	12	)	)	PUNCT
cjfa-33345	210	13	.	.	PUNCT
cjfa-33345	211	1	the	the	DET
cjfa-33345	211	2	determinants	determinant	NOUN
cjfa-33345	211	3	of	of	ADP
cjfa-33345	211	4	board	board	NOUN
cjfa-33345	211	5	composition	composition	NOUN
cjfa-33345	211	6	.	.	PUNCT
cjfa-33345	212	1	rand	rand	PROPN
cjfa-33345	212	2	journal	journal	PROPN
cjfa-33345	212	3	of	of	ADP
cjfa-33345	212	4	economics	economic	NOUN
cjfa-33345	212	5	,	,	PUNCT
cjfa-33345	212	6	19(4	19(4	NOUN
cjfa-33345	212	7	)	)	PUNCT
cjfa-33345	212	8	,	,	PUNCT
cjfa-33345	212	9	589	589	NUM
cjfa-33345	212	10	-	-	SYM
cjfa-33345	212	11	606	606	NUM
cjfa-33345	212	12	.	.	PUNCT
cjfa-33345	213	1	hughes	hughes	PROPN
cjfa-33345	213	2	j.p	j.p	PROPN
cjfa-33345	213	3	.	.	PROPN
cjfa-33345	213	4	,	,	PUNCT
cjfa-33345	213	5	lang	lang	PROPN
cjfa-33345	213	6	,	,	PUNCT
cjfa-33345	213	7	w.	w.	PROPN
cjfa-33345	213	8	,	,	PUNCT
cjfa-33345	213	9	mester	mester	PROPN
cjfa-33345	213	10	,	,	PUNCT
cjfa-33345	213	11	l.j	l.j	PROPN
cjfa-33345	213	12	.	.	PROPN
cjfa-33345	213	13	,	,	PUNCT
cjfa-33345	213	14	moon	moon	PROPN
cjfa-33345	213	15	,	,	PUNCT
cjfa-33345	213	16	c.g	c.g	PROPN
cjfa-33345	213	17	.	.	PROPN
cjfa-33345	213	18	,	,	PUNCT
cjfa-33345	213	19	&	&	CCONJ
cjfa-33345	213	20	pagano	pagano	PROPN
cjfa-33345	213	21	,	,	PUNCT
cjfa-33345	213	22	m.s	m.s	PROPN
cjfa-33345	213	23	.	.	PROPN
cjfa-33345	213	24	(	(	PUNCT
cjfa-33345	213	25	2002	2002	NUM
cjfa-33345	213	26	)	)	PUNCT
cjfa-33345	213	27	.	.	PUNCT
cjfa-33345	214	1	do	do	VERB
cjfa-33345	214	2	bankers	banker	NOUN
cjfa-33345	214	3	sacrifice	sacrifice	NOUN
cjfa-33345	214	4	value	value	NOUN
cjfa-33345	214	5	to	to	PART
cjfa-33345	214	6	build	build	VERB
cjfa-33345	214	7	empire	empire	NOUN
cjfa-33345	214	8	?	?	PUNCT
cjfa-33345	215	1	managerial	managerial	ADJ
cjfa-33345	215	2	incentives	incentive	NOUN
cjfa-33345	215	3	,	,	PUNCT
cjfa-33345	215	4	industry	industry	NOUN
cjfa-33345	215	5	consolidation	consolidation	NOUN
cjfa-33345	215	6	,	,	PUNCT
cjfa-33345	215	7	and	and	CCONJ
cjfa-33345	215	8	financial	financial	ADJ
cjfa-33345	215	9	performance	performance	NOUN
cjfa-33345	215	10	.	.	PUNCT
cjfa-33345	216	1	frb	frb	NOUN
cjfa-33345	216	2	of	of	ADP
cjfa-33345	216	3	philadelphia	philadelphia	PROPN
cjfa-33345	216	4	working	working	PROPN
cjfa-33345	216	5	paper	paper	NOUN
cjfa-33345	216	6	,	,	PUNCT
cjfa-33345	216	7	02	02	NUM
cjfa-33345	216	8	-	-	SYM
cjfa-33345	216	9	2	2	NUM
cjfa-33345	216	10	.	.	PUNCT
cjfa-33345	216	11	http://dx.doi.org/10.2139/	http://dx.doi.org/10.2139/	PROPN
cjfa-33345	216	12	ssrn.314574	ssrn.314574	PROPN
cjfa-33345	216	13	.	.	PUNCT
cjfa-33345	217	1	jensen	jensen	PROPN
cjfa-33345	217	2	,	,	PUNCT
cjfa-33345	217	3	m.c	m.c	PROPN
cjfa-33345	217	4	.	.	PROPN
cjfa-33345	217	5	(	(	PUNCT
cjfa-33345	217	6	1986	1986	NUM
cjfa-33345	217	7	)	)	PUNCT
cjfa-33345	217	8	.	.	PUNCT
cjfa-33345	218	1	agency	agency	NOUN
cjfa-33345	218	2	cost	cost	NOUN
cjfa-33345	218	3	of	of	ADP
cjfa-33345	218	4	free	free	ADJ
cjfa-33345	218	5	cash	cash	NOUN
cjfa-33345	218	6	flow	flow	NOUN
cjfa-33345	218	7	,	,	PUNCT
cjfa-33345	218	8	corporate	corporate	ADJ
cjfa-33345	218	9	finance	finance	NOUN
cjfa-33345	218	10	,	,	PUNCT
cjfa-33345	218	11	and	and	CCONJ
cjfa-33345	218	12	takeovers	takeover	NOUN
cjfa-33345	218	13	.	.	PUNCT
cjfa-33345	219	1	american	american	PROPN
cjfa-33345	219	2	economic	economic	PROPN
cjfa-33345	219	3	review	review	PROPN
cjfa-33345	219	4	,	,	PUNCT
cjfa-33345	219	5	76(2	76(2	NUM
cjfa-33345	219	6	)	)	PUNCT
cjfa-33345	219	7	,	,	PUNCT
cjfa-33345	219	8	323	323	NUM
cjfa-33345	219	9	-	-	SYM
cjfa-33345	219	10	329	329	NUM
cjfa-33345	219	11	.	.	PUNCT
cjfa-33345	220	1	http://dx.doi.org/10.2139/ssrn.99580	http://dx.doi.org/10.2139/ssrn.99580	PROPN
cjfa-33345	220	2	.	.	PUNCT
cjfa-33345	221	1	jensen	jensen	PROPN
cjfa-33345	221	2	,	,	PUNCT
cjfa-33345	221	3	m.c	m.c	PROPN
cjfa-33345	221	4	.	.	PROPN
cjfa-33345	221	5	,	,	PUNCT
cjfa-33345	221	6	&	&	CCONJ
cjfa-33345	221	7	meckling	meckling	PROPN
cjfa-33345	221	8	,	,	PUNCT
cjfa-33345	221	9	w.h	w.h	PROPN
cjfa-33345	221	10	.	.	PROPN
cjfa-33345	221	11	(	(	PUNCT
cjfa-33345	221	12	1976	1976	NUM
cjfa-33345	221	13	)	)	PUNCT
cjfa-33345	221	14	.	.	PUNCT
cjfa-33345	222	1	theory	theory	NOUN
cjfa-33345	222	2	of	of	ADP
cjfa-33345	222	3	the	the	DET
cjfa-33345	222	4	firm	firm	ADJ
cjfa-33345	222	5	,	,	PUNCT
cjfa-33345	222	6	managerial	managerial	ADJ
cjfa-33345	222	7	behaviour	behaviour	NOUN
cjfa-33345	222	8	,	,	PUNCT
cjfa-33345	222	9	agency	agency	NOUN
cjfa-33345	222	10	costs	cost	NOUN
cjfa-33345	222	11	and	and	CCONJ
cjfa-33345	222	12	ownership	ownership	NOUN
cjfa-33345	222	13	structure	structure	NOUN
cjfa-33345	222	14	.	.	PUNCT
cjfa-33345	223	1	journal	journal	NOUN
cjfa-33345	223	2	of	of	ADP
cjfa-33345	223	3	financial	financial	ADJ
cjfa-33345	223	4	economics	economic	NOUN
cjfa-33345	223	5	,	,	PUNCT
cjfa-33345	223	6	3(4	3(4	NUM
cjfa-33345	223	7	)	)	PUNCT
cjfa-33345	223	8	,	,	PUNCT
cjfa-33345	223	9	305	305	NUM
cjfa-33345	223	10	-	-	SYM
cjfa-33345	223	11	360	360	NUM
cjfa-33345	223	12	.	.	PUNCT
cjfa-33345	224	1	http://	http://	PROPN
cjfa-33345	224	2	dx.doi.org/10.1016/0304-405x(76)90026-x	dx.doi.org/10.1016/0304-405x(76)90026-x	PROPN
cjfa-33345	224	3	.	.	PUNCT
cjfa-33345	225	1	jensen	jensen	PROPN
cjfa-33345	225	2	,	,	PUNCT
cjfa-33345	225	3	m.c	m.c	PROPN
cjfa-33345	225	4	.	.	PROPN
cjfa-33345	225	5	,	,	PUNCT
cjfa-33345	225	6	&	&	CCONJ
cjfa-33345	225	7	murphy	murphy	PROPN
cjfa-33345	225	8	,	,	PUNCT
cjfa-33345	225	9	k.j	k.j	PROPN
cjfa-33345	225	10	.	.	PROPN
cjfa-33345	225	11	(	(	PUNCT
cjfa-33345	225	12	1990	1990	NUM
cjfa-33345	225	13	)	)	PUNCT
cjfa-33345	225	14	.	.	PUNCT
cjfa-33345	226	1	performance	performance	NOUN
cjfa-33345	226	2	pay	pay	NOUN
cjfa-33345	226	3	and	and	CCONJ
cjfa-33345	226	4	top	top	ADJ
cjfa-33345	226	5	management	management	NOUN
cjfa-33345	226	6	incentives	incentive	NOUN
cjfa-33345	226	7	.	.	PUNCT
cjfa-33345	227	1	journal	journal	NOUN
cjfa-33345	227	2	of	of	ADP
cjfa-33345	227	3	political	political	ADJ
cjfa-33345	227	4	economy	economy	NOUN
cjfa-33345	227	5	,	,	PUNCT
cjfa-33345	227	6	98(2	98(2	NUM
cjfa-33345	227	7	)	)	PUNCT
cjfa-33345	227	8	,	,	PUNCT
cjfa-33345	227	9	225	225	NUM
cjfa-33345	227	10	-	-	SYM
cjfa-33345	227	11	264	264	NUM
cjfa-33345	227	12	.	.	PUNCT
cjfa-33345	228	1	http://dx.doi.org/10.1086/261677	http://dx.doi.org/10.1086/261677	PROPN
cjfa-33345	228	2	.	.	PUNCT
cjfa-33345	229	1	jondrow	jondrow	PROPN
cjfa-33345	229	2	,	,	PUNCT
cjfa-33345	229	3	j.	j.	PROPN
cjfa-33345	229	4	,	,	PUNCT
cjfa-33345	229	5	lovell	lovell	PROPN
cjfa-33345	229	6	,	,	PUNCT
cjfa-33345	229	7	c.a	c.a	PROPN
cjfa-33345	229	8	.	.	PROPN
cjfa-33345	229	9	,	,	PUNCT
cjfa-33345	229	10	materov	materov	PROPN
cjfa-33345	229	11	,	,	PUNCT
cjfa-33345	229	12	i.s	i.s	PROPN
cjfa-33345	229	13	.	.	PROPN
cjfa-33345	229	14	,	,	PUNCT
cjfa-33345	229	15	&	&	CCONJ
cjfa-33345	229	16	shmidt	shmidt	PROPN
cjfa-33345	229	17	,	,	PUNCT
cjfa-33345	229	18	p.	p.	NOUN
cjfa-33345	229	19	(	(	PUNCT
cjfa-33345	229	20	1982	1982	NUM
cjfa-33345	229	21	)	)	PUNCT
cjfa-33345	229	22	.	.	PUNCT
cjfa-33345	230	1	on	on	ADP
cjfa-33345	230	2	the	the	DET
cjfa-33345	230	3	estimation	estimation	NOUN
cjfa-33345	230	4	of	of	ADP
cjfa-33345	230	5	technical	technical	ADJ
cjfa-33345	230	6	efficiency	efficiency	NOUN
cjfa-33345	230	7	in	in	ADP
cjfa-33345	230	8	the	the	DET
cjfa-33345	230	9	stochastic	stochastic	ADJ
cjfa-33345	230	10	frontier	frontier	NOUN
cjfa-33345	230	11	production	production	NOUN
cjfa-33345	230	12	function	function	NOUN
cjfa-33345	230	13	model	model	NOUN
cjfa-33345	230	14	.	.	PUNCT
cjfa-33345	231	1	journal	journal	PROPN
cjfa-33345	231	2	of	of	ADP
cjfa-33345	231	3	econometrics	econometric	NOUN
cjfa-33345	231	4	,	,	PUNCT
cjfa-33345	231	5	19(2	19(2	NUM
cjfa-33345	231	6	-	-	SYM
cjfa-33345	231	7	3	3	NUM
cjfa-33345	231	8	)	)	PUNCT
cjfa-33345	231	9	,	,	PUNCT
cjfa-33345	231	10	233	233	NUM
cjfa-33345	231	11	-	-	SYM
cjfa-33345	231	12	238	238	NUM
cjfa-33345	231	13	.	.	PUNCT
cjfa-33345	232	1	http://dx.doi.org/10.1016/0304-4076(82)90004-5	http://dx.doi.org/10.1016/0304-4076(82)90004-5	PROPN
cjfa-33345	232	2	.	.	PUNCT
cjfa-33345	233	1	kartal	kartal	PROPN
cjfa-33345	233	2	,	,	PUNCT
cjfa-33345	233	3	m.t	m.t	PROPN
cjfa-33345	233	4	.	.	PROPN
cjfa-33345	233	5	,	,	PUNCT
cjfa-33345	233	6	ibis	ibis	PROPN
cjfa-33345	233	7	,	,	PUNCT
cjfa-33345	233	8	c.	c.	PROPN
cjfa-33345	233	9	,	,	PUNCT
cjfa-33345	233	10	&	&	CCONJ
cjfa-33345	233	11	catikkas	catikkas	PROPN
cjfa-33345	233	12	,	,	PUNCT
cjfa-33345	233	13	ö.	ö.	PROPN
cjfa-33345	233	14	(	(	PUNCT
cjfa-33345	233	15	2018	2018	NUM
cjfa-33345	233	16	)	)	PUNCT
cjfa-33345	233	17	.	.	PUNCT
cjfa-33345	234	1	adequacy	adequacy	NOUN
cjfa-33345	234	2	of	of	ADP
cjfa-33345	234	3	audit	audit	NOUN
cjfa-33345	234	4	committees	committee	NOUN
cjfa-33345	234	5	:	:	PUNCT
cjfa-33345	234	6	a	a	DET
cjfa-33345	234	7	study	study	NOUN
cjfa-33345	234	8	of	of	ADP
cjfa-33345	234	9	deposit	deposit	NOUN
cjfa-33345	234	10	banks	bank	NOUN
cjfa-33345	234	11	in	in	ADP
cjfa-33345	234	12	turkey	turkey	NOUN
cjfa-33345	234	13	’	'	PUNCT
cjfa-33345	234	14	.	.	PUNCT
cjfa-33345	235	1	borsa	borsa	PROPN
cjfa-33345	235	2	istanbul	istanbul	PROPN
cjfa-33345	235	3	review	review	PROPN
cjfa-33345	235	4	,	,	PUNCT
cjfa-33345	235	5	18(2	18(2	NUM
cjfa-33345	235	6	)	)	PUNCT
cjfa-33345	235	7	,	,	PUNCT
cjfa-33345	235	8	150	150	NUM
cjfa-33345	235	9	-	-	SYM
cjfa-33345	235	10	165	165	NUM
cjfa-33345	235	11	.	.	PUNCT
cjfa-33345	236	1	http://dx.doi	http://dx.doi	NOUN
cjfa-33345	236	2	.	.	PUNCT
cjfa-33345	237	1	org/10.1016	org/10.1016	PROPN
cjfa-33345	237	2	/	/	SYM
cjfa-33345	237	3	j.bir.2018.01.002	j.bir.2018.01.002	NOUN
cjfa-33345	237	4	.	.	PUNCT
cjfa-33345	238	1	morck	morck	PROPN
cjfa-33345	238	2	,	,	PUNCT
cjfa-33345	238	3	r.	r.	PROPN
cjfa-33345	238	4	,	,	PUNCT
cjfa-33345	238	5	shleifer	shleifer	PROPN
cjfa-33345	238	6	,	,	PUNCT
cjfa-33345	238	7	a.	a.	NOUN
cjfa-33345	238	8	,	,	PUNCT
cjfa-33345	238	9	&	&	CCONJ
cjfa-33345	238	10	vishney	vishney	PROPN
cjfa-33345	238	11	,	,	PUNCT
cjfa-33345	238	12	r.w	r.w	PROPN
cjfa-33345	238	13	.	.	PROPN
cjfa-33345	238	14	(	(	PUNCT
cjfa-33345	238	15	1988	1988	NUM
cjfa-33345	238	16	)	)	PUNCT
cjfa-33345	238	17	.	.	PUNCT
cjfa-33345	239	1	management	management	NOUN
cjfa-33345	239	2	ownership	ownership	NOUN
cjfa-33345	239	3	and	and	CCONJ
cjfa-33345	239	4	market	market	NOUN
cjfa-33345	239	5	valuation	valuation	NOUN
cjfa-33345	239	6	:	:	PUNCT
cjfa-33345	239	7	an	an	DET
cjfa-33345	239	8	empirical	empirical	ADJ
cjfa-33345	239	9	analysis	analysis	NOUN
cjfa-33345	239	10	.	.	PUNCT
cjfa-33345	240	1	journal	journal	NOUN
cjfa-33345	240	2	of	of	ADP
cjfa-33345	240	3	financial	financial	ADJ
cjfa-33345	240	4	economics	economic	NOUN
cjfa-33345	240	5	,	,	PUNCT
cjfa-33345	240	6	20	20	NUM
cjfa-33345	240	7	,	,	PUNCT
cjfa-33345	240	8	293	293	NUM
cjfa-33345	240	9	-	-	SYM
cjfa-33345	240	10	315	315	NUM
cjfa-33345	240	11	.	.	PUNCT
cjfa-33345	241	1	http://	http://	PROPN
cjfa-33345	241	2	dx.doi.org/10.1016/0304-405x(88)90048-7	dx.doi.org/10.1016/0304-405x(88)90048-7	PROPN
cjfa-33345	241	3	.	.	PUNCT
cjfa-33345	242	1	peasnell	peasnell	PROPN
cjfa-33345	242	2	,	,	PUNCT
cjfa-33345	242	3	k.w	k.w	PROPN
cjfa-33345	242	4	.	.	PROPN
cjfa-33345	242	5	,	,	PUNCT
cjfa-33345	242	6	pope	pope	PROPN
cjfa-33345	242	7	,	,	PUNCT
cjfa-33345	242	8	p.f	p.f	PROPN
cjfa-33345	242	9	.	.	PROPN
cjfa-33345	242	10	,	,	PUNCT
cjfa-33345	242	11	&	&	CCONJ
cjfa-33345	242	12	young	young	PROPN
cjfa-33345	242	13	,	,	PUNCT
cjfa-33345	242	14	s.	s.	PROPN
cjfa-33345	242	15	(	(	PUNCT
cjfa-33345	242	16	1998	1998	NUM
cjfa-33345	242	17	)	)	PUNCT
cjfa-33345	242	18	.	.	PUNCT
cjfa-33345	243	1	managerial	managerial	ADJ
cjfa-33345	243	2	ownership	ownership	NOUN
cjfa-33345	243	3	and	and	CCONJ
cjfa-33345	243	4	the	the	DET
cjfa-33345	243	5	demand	demand	NOUN
cjfa-33345	243	6	for	for	ADP
cjfa-33345	243	7	outside	outside	ADJ
cjfa-33345	243	8	directors	director	NOUN
cjfa-33345	243	9	.	.	PUNCT
cjfa-33345	244	1	working	work	VERB
cjfa-33345	244	2	paper	paper	PROPN
cjfa-33345	244	3	lancaster	lancaster	PROPN
cjfa-33345	244	4	university	university	PROPN
cjfa-33345	244	5	.	.	PUNCT
cjfa-33345	245	1	pilloff	pilloff	PROPN
cjfa-33345	245	2	,	,	PUNCT
cjfa-33345	245	3	s.j	s.j	PROPN
cjfa-33345	245	4	.	.	PROPN
cjfa-33345	245	5	(	(	PUNCT
cjfa-33345	245	6	2004	2004	NUM
cjfa-33345	245	7	)	)	PUNCT
cjfa-33345	245	8	.	.	PUNCT
cjfa-33345	246	1	bank	bank	NOUN
cjfa-33345	246	2	merger	merger	NOUN
cjfa-33345	246	3	activity	activity	NOUN
cjfa-33345	246	4	in	in	ADP
cjfa-33345	246	5	the	the	DET
cjfa-33345	246	6	united	united	PROPN
cjfa-33345	246	7	states	states	PROPN
cjfa-33345	246	8	,	,	PUNCT
cjfa-33345	246	9	1994	1994	NUM
cjfa-33345	246	10	-	-	SYM
cjfa-33345	246	11	2003	2003	NUM
cjfa-33345	246	12	,	,	PUNCT
cjfa-33345	246	13	staff	staff	NOUN
cjfa-33345	246	14	study	study	NOUN
cjfa-33345	246	15	176	176	NUM
cjfa-33345	246	16	.	.	PUNCT
cjfa-33345	247	1	washington	washington	PROPN
cjfa-33345	247	2	:	:	PUNCT
cjfa-33345	247	3	board	board	NOUN
cjfa-33345	247	4	of	of	ADP
cjfa-33345	247	5	governors	governor	NOUN
cjfa-33345	247	6	of	of	ADP
cjfa-33345	247	7	the	the	DET
cjfa-33345	247	8	federal	federal	PROPN
cjfa-33345	247	9	reserve	reserve	PROPN
cjfa-33345	247	10	system	system	NOUN
cjfa-33345	247	11	.	.	PUNCT
cjfa-33345	248	1	shleifer	shleifer	PROPN
cjfa-33345	248	2	,	,	PUNCT
cjfa-33345	248	3	a.	a.	PROPN
cjfa-33345	248	4	,	,	PUNCT
cjfa-33345	248	5	&	&	CCONJ
cjfa-33345	248	6	vishney	vishney	PROPN
cjfa-33345	248	7	,	,	PUNCT
cjfa-33345	248	8	r.w	r.w	PROPN
cjfa-33345	248	9	.	.	PROPN
cjfa-33345	248	10	(	(	PUNCT
cjfa-33345	248	11	1997	1997	NUM
cjfa-33345	248	12	)	)	PUNCT
cjfa-33345	248	13	.	.	PUNCT
cjfa-33345	249	1	a	a	DET
cjfa-33345	249	2	survey	survey	NOUN
cjfa-33345	249	3	of	of	ADP
cjfa-33345	249	4	corporate	corporate	ADJ
cjfa-33345	249	5	governance	governance	NOUN
cjfa-33345	249	6	.	.	PUNCT
cjfa-33345	250	1	journal	journal	NOUN
cjfa-33345	250	2	of	of	ADP
cjfa-33345	250	3	finance	finance	NOUN
cjfa-33345	250	4	,	,	PUNCT
cjfa-33345	250	5	52(2	52(2	NUM
cjfa-33345	250	6	)	)	PUNCT
cjfa-33345	250	7	,	,	PUNCT
cjfa-33345	250	8	737	737	NUM
cjfa-33345	250	9	-	-	SYM
cjfa-33345	250	10	783	783	NUM
cjfa-33345	250	11	.	.	PUNCT
cjfa-33345	251	1	http://dx.doi.org/10.1111/j.1540-6261.1997.tb04820.x	http://dx.doi.org/10.1111/j.1540-6261.1997.tb04820.x	PROPN
cjfa-33345	251	2	.	.	PUNCT
cjfa-33345	251	3	corporate	corporate	ADJ
cjfa-33345	251	4	governance	governance	NOUN
cjfa-33345	251	5	and	and	CCONJ
cjfa-33345	251	6	post	post	ADJ
cjfa-33345	251	7	-	-	ADJ
cjfa-33345	251	8	merger	merger	ADJ
cjfa-33345	251	9	performance	performance	NOUN
cjfa-33345	251	10	…	…	SYM
cjfa-33345	251	11	113	113	NUM
cjfa-33345	251	12	wheelock	wheelock	NOUN
cjfa-33345	251	13	,	,	PUNCT
cjfa-33345	251	14	d.c	d.c	PROPN
cjfa-33345	251	15	.	.	PUNCT
cjfa-33345	251	16	(	(	PUNCT
cjfa-33345	251	17	2011	2011	NUM
cjfa-33345	251	18	)	)	PUNCT
cjfa-33345	251	19	.	.	PUNCT
cjfa-33345	252	1	banking	banking	NOUN
cjfa-33345	252	2	industry	industry	NOUN
cjfa-33345	252	3	consolidation	consolidation	NOUN
cjfa-33345	252	4	and	and	CCONJ
cjfa-33345	252	5	market	market	NOUN
cjfa-33345	252	6	structure	structure	NOUN
cjfa-33345	252	7	:	:	PUNCT
cjfa-33345	252	8	impact	impact	NOUN
cjfa-33345	252	9	of	of	ADP
cjfa-33345	252	10	the	the	DET
cjfa-33345	252	11	financial	financial	ADJ
cjfa-33345	252	12	crisis	crisis	NOUN
cjfa-33345	252	13	and	and	CCONJ
cjfa-33345	252	14	recession	recession	NOUN
cjfa-33345	252	15	.	.	PUNCT
cjfa-33345	253	1	federal	federal	PROPN
cjfa-33345	253	2	reserve	reserve	PROPN
cjfa-33345	253	3	bank	bank	PROPN
cjfa-33345	253	4	of	of	ADP
cjfa-33345	253	5	st	st	PROPN
cjfa-33345	253	6	.	.	PROPN
cjfa-33345	253	7	louis	louis	PROPN
cjfa-33345	253	8	review	review	PROPN
cjfa-33345	253	9	,	,	PUNCT
cjfa-33345	253	10	93	93	NUM
cjfa-33345	253	11	,	,	PUNCT
cjfa-33345	253	12	419	419	NUM
cjfa-33345	253	13	-	-	SYM
cjfa-33345	253	14	438	438	NUM
cjfa-33345	253	15	.	.	PUNCT
cjfa-33345	254	1	zhou	zhou	PROPN
cjfa-33345	254	2	,	,	PUNCT
cjfa-33345	254	3	h.	h.	PROPN
cjfa-33345	254	4	,	,	PUNCT
cjfa-33345	254	5	ansah	ansah	PROPN
cjfa-33345	254	6	,	,	PUNCT
cjfa-33345	254	7	o.s	o.s	PROPN
cjfa-33345	254	8	.	.	PROPN
cjfa-33345	254	9	,	,	PUNCT
cjfa-33345	254	10	&	&	CCONJ
cjfa-33345	254	11	maggina	maggina	PROPN
cjfa-33345	254	12	,	,	PUNCT
cjfa-33345	254	13	a.	a.	NOUN
cjfa-33345	254	14	(	(	PUNCT
cjfa-33345	254	15	2018	2018	NUM
cjfa-33345	254	16	)	)	PUNCT
cjfa-33345	254	17	.	.	PUNCT
cjfa-33345	255	1	board	board	NOUN
cjfa-33345	255	2	of	of	ADP
cjfa-33345	255	3	directors	director	NOUN
cjfa-33345	255	4	,	,	PUNCT
cjfa-33345	255	5	audit	audit	NOUN
cjfa-33345	255	6	committee	committee	NOUN
cjfa-33345	255	7	,	,	PUNCT
cjfa-33345	255	8	and	and	CCONJ
cjfa-33345	255	9	firm	firm	ADJ
cjfa-33345	255	10	performance	performance	NOUN
cjfa-33345	255	11	:	:	PUNCT
cjfa-33345	255	12	evidence	evidence	NOUN
cjfa-33345	255	13	from	from	ADP
cjfa-33345	255	14	greece	greece	PROPN
cjfa-33345	255	15	.	.	PROPN
cjfa-33345	256	1	journal	journal	PROPN
cjfa-33345	256	2	of	of	ADP
cjfa-33345	256	3	international	international	ADJ
cjfa-33345	256	4	accounting	accounting	NOUN
cjfa-33345	256	5	,	,	PUNCT
cjfa-33345	256	6	auditing	auditing	NOUN
cjfa-33345	256	7	and	and	CCONJ
cjfa-33345	256	8	taxation	taxation	NOUN
cjfa-33345	256	9	,	,	PUNCT
cjfa-33345	256	10	31	31	NUM
cjfa-33345	256	11	,	,	PUNCT
cjfa-33345	256	12	20	20	NUM
cjfa-33345	256	13	-	-	SYM
cjfa-33345	256	14	36	36	NUM
cjfa-33345	256	15	.	.	PUNCT
cjfa-33345	257	1	http://dx.doi.org/10.1016/j.intaccaudtax.2018.03.002	http://dx.doi.org/10.1016/j.intaccaudtax.2018.03.002	NOUN
cjfa-33345	257	2	.	.	PUNCT