id	sid	tid	token	lemma	pos
cjfa-34397	1	1	date	date	NOUN
cjfa-34397	1	2	of	of	ADP
cjfa-34397	1	3	submission	submission	NOUN
cjfa-34397	1	4	:	:	PUNCT
cjfa-34397	1	5	december	december	PROPN
cjfa-34397	1	6	10	10	NUM
cjfa-34397	1	7	,	,	PUNCT
cjfa-34397	1	8	2020	2020	NUM
cjfa-34397	1	9	;	;	PUNCT
cjfa-34397	1	10	date	date	NOUN
cjfa-34397	1	11	of	of	ADP
cjfa-34397	1	12	acceptance	acceptance	NOUN
cjfa-34397	1	13	:	:	PUNCT
cjfa-34397	1	14	march	march	PROPN
cjfa-34397	1	15	3	3	NUM
cjfa-34397	1	16	,	,	PUNCT
cjfa-34397	1	17	2021	2021	NUM
cjfa-34397	1	18	.	.	PUNCT
cjfa-34397	2	1	*	*	PUNCT
cjfa-34397	2	2	contact	contact	NOUN
cjfa-34397	2	3	information	information	NOUN
cjfa-34397	2	4	:	:	PUNCT
cjfa-34397	3	1	veeravel91@gmail.com	veeravel91@gmail.com	NOUN
cjfa-34397	3	2	,	,	PUNCT
cjfa-34397	3	3	research	research	NOUN
cjfa-34397	3	4	scholar	scholar	NOUN
cjfa-34397	3	5	,	,	PUNCT
cjfa-34397	3	6	department	department	NOUN
cjfa-34397	3	7	of	of	ADP
cjfa-34397	3	8	banking	banking	NOUN
cjfa-34397	3	9	technology	technology	NOUN
cjfa-34397	3	10	,	,	PUNCT
cjfa-34397	3	11	school	school	NOUN
cjfa-34397	3	12	of	of	ADP
cjfa-34397	3	13	management	management	NOUN
cjfa-34397	3	14	,	,	PUNCT
cjfa-34397	3	15	pondicherry	pondicherry	PROPN
cjfa-34397	3	16	university	university	PROPN
cjfa-34397	3	17	,	,	PUNCT
cjfa-34397	3	18	puducherry	puducherry	PROPN
cjfa-34397	3	19	605014	605014	NUM
cjfa-34397	3	20	,	,	PUNCT
cjfa-34397	3	21	india	india	PROPN
cjfa-34397	3	22	,	,	PUNCT
cjfa-34397	3	23	phone	phone	NOUN
cjfa-34397	3	24	:	:	PUNCT
cjfa-34397	3	25	+91	+91	NOUN
cjfa-34397	3	26	74183	74183	NUM
cjfa-34397	3	27	46733	46733	NUM
cjfa-34397	3	28	;	;	PUNCT
cjfa-34397	3	29	orcid	orcid	PROPN
cjfa-34397	4	1	i	i	NOUN
cjfa-34397	4	2	d	d	NOUN
cjfa-34397	4	3	:	:	PUNCT
cjfa-34397	4	4	https://orcid.org/0000-0003-1597-1777	https://orcid.org/0000-0003-1597-1777	ADJ
cjfa-34397	4	5	.	.	PUNCT
cjfa-34397	5	1	*	*	PUNCT
cjfa-34397	5	2	*	*	PUNCT
cjfa-34397	5	3	contact	contact	NOUN
cjfa-34397	5	4	information	information	NOUN
cjfa-34397	5	5	:	:	PUNCT
cjfa-34397	5	6	s.mohanasundaram@outlook.com	s.mohanasundaram@outlook.com	X
cjfa-34397	5	7	,	,	PUNCT
cjfa-34397	5	8	research	research	NOUN
cjfa-34397	5	9	scholar	scholar	NOUN
cjfa-34397	5	10	,	,	PUNCT
cjfa-34397	5	11	department	department	NOUN
cjfa-34397	5	12	of	of	ADP
cjfa-34397	5	13	management	management	NOUN
cjfa-34397	5	14	studies	study	NOUN
cjfa-34397	5	15	,	,	PUNCT
cjfa-34397	5	16	school	school	NOUN
cjfa-34397	5	17	of	of	ADP
cjfa-34397	5	18	management	management	NOUN
cjfa-34397	5	19	,	,	PUNCT
cjfa-34397	5	20	pondicherry	pondicherry	PROPN
cjfa-34397	5	21	university	university	PROPN
cjfa-34397	5	22	,	,	PUNCT
cjfa-34397	5	23	puducherry	puducherry	PROPN
cjfa-34397	5	24	605014	605014	NUM
cjfa-34397	5	25	,	,	PUNCT
cjfa-34397	5	26	india	india	PROPN
cjfa-34397	5	27	,	,	PUNCT
cjfa-34397	5	28	phone	phone	NOUN
cjfa-34397	5	29	:	:	PUNCT
cjfa-34397	5	30	+91	+91	NOUN
cjfa-34397	5	31	99414	99414	NUM
cjfa-34397	5	32	59900	59900	NUM
cjfa-34397	5	33	;	;	PUNCT
cjfa-34397	5	34	orcid	orcid	NOUN
cjfa-34397	6	1	i	i	NOUN
cjfa-34397	6	2	d	d	PROPN
cjfa-34397	6	3	:	:	PUNCT
cjfa-34397	6	4	https://orcid.org/00000003-4639-9419	https://orcid.org/00000003-4639-9419	PROPN
cjfa-34397	6	5	.	.	PROPN
cjfa-34397	6	6	copernican	copernican	PROPN
cjfa-34397	6	7	journal	journal	PROPN
cjfa-34397	6	8	of	of	ADP
cjfa-34397	6	9	finance	finance	PROPN
cjfa-34397	6	10	&	&	CCONJ
cjfa-34397	6	11	accounting	accounting	PROPN
cjfa-34397	6	12	e	e	PROPN
cjfa-34397	6	13	-	-	PROPN
cjfa-34397	6	14	issn	issn	PROPN
cjfa-34397	6	15	2300	2300	NUM
cjfa-34397	6	16	-	-	SYM
cjfa-34397	6	17	3065	3065	NUM
cjfa-34397	6	18	p	p	PROPN
cjfa-34397	6	19	-	-	PUNCT
cjfa-34397	6	20	issn	issn	PROPN
cjfa-34397	6	21	2300	2300	NUM
cjfa-34397	6	22	-	-	SYM
cjfa-34397	6	23	12402020	12402020	NUM
cjfa-34397	6	24	,	,	PUNCT
cjfa-34397	6	25	volume	volume	NOUN
cjfa-34397	6	26	9	9	NUM
cjfa-34397	6	27	,	,	PUNCT
cjfa-34397	6	28	issue	issue	VERB
cjfa-34397	6	29	4	4	NUM
cjfa-34397	6	30	veeravel	veeravel	NOUN
cjfa-34397	6	31	,	,	PUNCT
cjfa-34397	6	32	v.	v.	ADV
cjfa-34397	6	33	,	,	PUNCT
cjfa-34397	6	34	&	&	CCONJ
cjfa-34397	6	35	mohanasundaram	mohanasundaram	PROPN
cjfa-34397	6	36	,	,	PUNCT
cjfa-34397	6	37	s.	s.	PROPN
cjfa-34397	6	38	(	(	PUNCT
cjfa-34397	6	39	2020	2020	NUM
cjfa-34397	6	40	)	)	PUNCT
cjfa-34397	6	41	.	.	PUNCT
cjfa-34397	7	1	market	market	NOUN
cjfa-34397	7	2	timing	timing	NOUN
cjfa-34397	7	3	abilities	ability	NOUN
cjfa-34397	7	4	of	of	ADP
cjfa-34397	7	5	large	large	ADJ
cjfa-34397	7	6	cap	cap	NOUN
cjfa-34397	7	7	equity	equity	PROPN
cjfa-34397	7	8	mutual	mutual	ADJ
cjfa-34397	7	9	fund	fund	NOUN
cjfa-34397	7	10	managers	manager	NOUN
cjfa-34397	7	11	:	:	PUNCT
cjfa-34397	7	12	evidence	evidence	NOUN
cjfa-34397	7	13	from	from	ADP
cjfa-34397	7	14	india	india	PROPN
cjfa-34397	7	15	.	.	PUNCT
cjfa-34397	8	1	copernican	copernican	PROPN
cjfa-34397	8	2	journal	journal	PROPN
cjfa-34397	8	3	of	of	ADP
cjfa-34397	8	4	finance	finance	PROPN
cjfa-34397	8	5	&	&	CCONJ
cjfa-34397	8	6	accounting	accounting	PROPN
cjfa-34397	8	7	,	,	PUNCT
cjfa-34397	8	8	9(4	9(4	NUM
cjfa-34397	8	9	)	)	PUNCT
cjfa-34397	8	10	,	,	PUNCT
cjfa-34397	8	11	87–99	87–99	NUM
cjfa-34397	8	12	.	.	PUNCT
cjfa-34397	8	13	http://dx.doi.org/10.12775/cjfa.2020.023	http://dx.doi.org/10.12775/cjfa.2020.023	X
cjfa-34397	9	1	v.	v.	ADP
cjfa-34397	9	2	veeravel	veeravel	PROPN
cjfa-34397	9	3	*	*	PUNCT
cjfa-34397	9	4	pondicherry	pondicherry	PROPN
cjfa-34397	9	5	university	university	PROPN
cjfa-34397	9	6	s.	s.	PROPN
cjfa-34397	9	7	mohanasundaram	mohanasundaram	PROPN
cjfa-34397	9	8	*	*	PROPN
cjfa-34397	9	9	*	*	PROPN
cjfa-34397	9	10	pondicherry	pondicherry	ADJ
cjfa-34397	9	11	university	university	NOUN
cjfa-34397	9	12	market	market	NOUN
cjfa-34397	9	13	timing	timing	NOUN
cjfa-34397	9	14	abilities	ability	NOUN
cjfa-34397	9	15	of	of	ADP
cjfa-34397	9	16	large	large	ADJ
cjfa-34397	9	17	-	-	PUNCT
cjfa-34397	9	18	cap	cap	NOUN
cjfa-34397	9	19	equity	equity	NOUN
cjfa-34397	9	20	mutual	mutual	ADJ
cjfa-34397	9	21	fund	fund	NOUN
cjfa-34397	9	22	managers	manager	NOUN
cjfa-34397	9	23	:	:	PUNCT
cjfa-34397	9	24	evidence	evidence	NOUN
cjfa-34397	9	25	from	from	ADP
cjfa-34397	9	26	india	india	PROPN
cjfa-34397	9	27	keywords	keyword	NOUN
cjfa-34397	9	28	:	:	PUNCT
cjfa-34397	9	29	large	large	ADJ
cjfa-34397	9	30	-	-	PUNCT
cjfa-34397	9	31	cap	cap	NOUN
cjfa-34397	9	32	funds	fund	NOUN
cjfa-34397	9	33	,	,	PUNCT
cjfa-34397	9	34	conditional	conditional	ADJ
cjfa-34397	9	35	models	model	NOUN
cjfa-34397	9	36	,	,	PUNCT
cjfa-34397	9	37	public	public	ADJ
cjfa-34397	9	38	information	information	NOUN
cjfa-34397	9	39	variables	variable	NOUN
cjfa-34397	9	40	,	,	PUNCT
cjfa-34397	9	41	market	market	NOUN
cjfa-34397	9	42	timing	timing	NOUN
cjfa-34397	9	43	abilities	ability	NOUN
cjfa-34397	9	44	.	.	PUNCT
cjfa-34397	10	1	j	j	PROPN
cjfa-34397	10	2	e	e	PROPN
cjfa-34397	10	3	l	l	PROPN
cjfa-34397	10	4	classification	classification	NOUN
cjfa-34397	10	5	:	:	PUNCT
cjfa-34397	10	6	c12	c12	PROPN
cjfa-34397	10	7	,	,	PUNCT
cjfa-34397	10	8	g11	g11	PROPN
cjfa-34397	10	9	,	,	PUNCT
cjfa-34397	10	10	g23	g23	NOUN
cjfa-34397	10	11	.	.	PUNCT
cjfa-34397	11	1	abstract	abstract	NOUN
cjfa-34397	11	2	:	:	PUNCT
cjfa-34397	11	3	this	this	DET
cjfa-34397	11	4	study	study	NOUN
cjfa-34397	11	5	investigates	investigate	VERB
cjfa-34397	11	6	the	the	DET
cjfa-34397	11	7	market	market	NOUN
cjfa-34397	11	8	timing	timing	NOUN
cjfa-34397	11	9	ability	ability	NOUN
cjfa-34397	11	10	(	(	PUNCT
cjfa-34397	11	11	mta	mta	PROPN
cjfa-34397	11	12	)	)	PUNCT
cjfa-34397	11	13	of	of	ADP
cjfa-34397	11	14	large	large	ADJ
cjfa-34397	11	15	-	-	PUNCT
cjfa-34397	11	16	cap	cap	NOUN
cjfa-34397	11	17	equity	equity	NOUN
cjfa-34397	11	18	fund	fund	NOUN
cjfa-34397	11	19	managers	manager	NOUN
cjfa-34397	11	20	in	in	ADP
cjfa-34397	11	21	india	india	PROPN
cjfa-34397	11	22	.	.	PUNCT
cjfa-34397	12	1	the	the	DET
cjfa-34397	12	2	extensions	extension	NOUN
cjfa-34397	12	3	of	of	ADP
cjfa-34397	12	4	treynor	treynor	NOUN
cjfa-34397	12	5	and	and	CCONJ
cjfa-34397	12	6	mazuy	mazuy	PROPN
cjfa-34397	12	7	(	(	PUNCT
cjfa-34397	12	8	tm	tm	NOUN
cjfa-34397	12	9	)	)	PUNCT
cjfa-34397	12	10	model	model	NOUN
cjfa-34397	12	11	and	and	CCONJ
cjfa-34397	12	12	henriksson	henriksson	NOUN
cjfa-34397	12	13	and	and	CCONJ
cjfa-34397	12	14	merton	merton	PROPN
cjfa-34397	12	15	(	(	PUNCT
cjfa-34397	12	16	hm	hm	INTJ
cjfa-34397	12	17	)	)	PUNCT
cjfa-34397	12	18	model	model	NOUN
cjfa-34397	12	19	have	have	AUX
cjfa-34397	12	20	been	be	AUX
cjfa-34397	12	21	used	use	VERB
cjfa-34397	12	22	by	by	ADP
cjfa-34397	12	23	adding	add	VERB
cjfa-34397	12	24	six	six	NUM
cjfa-34397	12	25	additional	additional	ADJ
cjfa-34397	12	26	factors	factor	NOUN
cjfa-34397	12	27	related	relate	VERB
cjfa-34397	12	28	to	to	ADP
cjfa-34397	12	29	the	the	DET
cjfa-34397	12	30	public	public	ADJ
cjfa-34397	12	31	information	information	NOUN
cjfa-34397	12	32	,	,	PUNCT
cjfa-34397	12	33	91	91	NUM
cjfa-34397	12	34	-	-	PUNCT
cjfa-34397	12	35	days	day	NOUN
cjfa-34397	12	36	treasury	treasury	NOUN
cjfa-34397	12	37	bill	bill	NOUN
cjfa-34397	12	38	’s	’s	PART
cjfa-34397	12	39	yield	yield	NOUN
cjfa-34397	12	40	,	,	PUNCT
cjfa-34397	12	41	the	the	DET
cjfa-34397	12	42	dividend	dividend	NOUN
cjfa-34397	12	43	yield	yield	NOUN
cjfa-34397	12	44	on	on	ADP
cjfa-34397	12	45	cnx	cnx	PROPN
cjfa-34397	12	46	500	500	NUM
cjfa-34397	12	47	index	index	NOUN
cjfa-34397	12	48	,	,	PUNCT
cjfa-34397	12	49	term	term	NOUN
cjfa-34397	12	50	structure	structure	NOUN
cjfa-34397	12	51	of	of	ADP
cjfa-34397	12	52	interest	interest	NOUN
cjfa-34397	12	53	rates	rate	NOUN
cjfa-34397	12	54	,	,	PUNCT
cjfa-34397	12	55	the	the	DET
cjfa-34397	12	56	price	price	NOUN
cjfa-34397	12	57	-	-	PUNCT
cjfa-34397	12	58	to	to	ADP
cjfa-34397	12	59	-	-	PUNCT
cjfa-34397	12	60	earnings	earning	NOUN
cjfa-34397	12	61	ratio	ratio	NOUN
cjfa-34397	12	62	,	,	PUNCT
cjfa-34397	12	63	yield	yield	NOUN
cjfa-34397	12	64	from	from	ADP
cjfa-34397	12	65	foreign	foreign	ADJ
cjfa-34397	12	66	exchange	exchange	NOUN
cjfa-34397	12	67	rates	rate	NOUN
cjfa-34397	12	68	changes	change	NOUN
cjfa-34397	12	69	,	,	PUNCT
cjfa-34397	12	70	and	and	CCONJ
cjfa-34397	12	71	growth	growth	NOUN
cjfa-34397	12	72	rate	rate	NOUN
cjfa-34397	12	73	in	in	ADP
cjfa-34397	12	74	gold	gold	NOUN
cjfa-34397	12	75	prices	price	NOUN
cjfa-34397	12	76	.	.	PUNCT
cjfa-34397	13	1	the	the	DET
cjfa-34397	13	2	extended	extended	ADJ
cjfa-34397	13	3	models	model	NOUN
cjfa-34397	13	4	are	be	AUX
cjfa-34397	13	5	termed	term	VERB
cjfa-34397	13	6	,	,	PUNCT
cjfa-34397	13	7	conditional	conditional	ADJ
cjfa-34397	13	8	models	model	NOUN
cjfa-34397	13	9	.	.	PUNCT
cjfa-34397	14	1	this	this	DET
cjfa-34397	14	2	study	study	NOUN
cjfa-34397	14	3	has	have	AUX
cjfa-34397	14	4	used	use	VERB
cjfa-34397	14	5	time	time	NOUN
cjfa-34397	14	6	-	-	PUNCT
cjfa-34397	14	7	series	series	NOUN
cjfa-34397	14	8	data	datum	NOUN
cjfa-34397	14	9	of	of	ADP
cjfa-34397	14	10	large	large	ADJ
cjfa-34397	14	11	-	-	PUNCT
cjfa-34397	14	12	cap	cap	NOUN
cjfa-34397	14	13	equity	equity	NOUN
cjfa-34397	14	14	funds	fund	NOUN
cjfa-34397	14	15	.	.	PUNCT
cjfa-34397	15	1	the	the	DET
cjfa-34397	15	2	results	result	NOUN
cjfa-34397	15	3	of	of	ADP
cjfa-34397	15	4	the	the	DET
cjfa-34397	15	5	conditional	conditional	ADJ
cjfa-34397	15	6	and	and	CCONJ
cjfa-34397	15	7	unconditional	unconditional	ADJ
cjfa-34397	15	8	versions	version	NOUN
cjfa-34397	15	9	of	of	ADP
cjfa-34397	15	10	tm	tm	PROPN
cjfa-34397	15	11	and	and	CCONJ
cjfa-34397	15	12	hm	hm	PROPN
cjfa-34397	15	13	models	model	NOUN
cjfa-34397	15	14	reveal	reveal	VERB
cjfa-34397	15	15	that	that	SCONJ
cjfa-34397	15	16	the	the	DET
cjfa-34397	15	17	large	large	ADJ
cjfa-34397	15	18	-	-	PUNCT
cjfa-34397	15	19	cap	cap	NOUN
cjfa-34397	15	20	equity	equity	NOUN
cjfa-34397	15	21	funds	fund	NOUN
cjfa-34397	15	22	as	as	ADP
cjfa-34397	15	23	a	a	DET
cjfa-34397	15	24	whole	whole	NOUN
cjfa-34397	15	25	do	do	AUX
cjfa-34397	15	26	not	not	PART
cjfa-34397	15	27	possess	possess	VERB
cjfa-34397	15	28	significant	significant	ADJ
cjfa-34397	15	29	mta	mta	NOUN
cjfa-34397	15	30	,	,	PUNCT
cjfa-34397	15	31	even	even	ADV
cjfa-34397	15	32	v.	v.	ADP
cjfa-34397	15	33	veeravel	veeravel	NOUN
cjfa-34397	15	34	,	,	PUNCT
cjfa-34397	15	35	s.	s.	PROPN
cjfa-34397	15	36	mohanasundaram88	mohanasundaram88	PROPN
cjfa-34397	15	37	though	though	SCONJ
cjfa-34397	15	38	a	a	DET
cjfa-34397	15	39	considerable	considerable	ADJ
cjfa-34397	15	40	percentage	percentage	NOUN
cjfa-34397	15	41	of	of	ADP
cjfa-34397	15	42	the	the	DET
cjfa-34397	15	43	funds	fund	NOUN
cjfa-34397	15	44	under	under	ADP
cjfa-34397	15	45	each	each	PRON
cjfa-34397	15	46	of	of	ADP
cjfa-34397	15	47	the	the	DET
cjfa-34397	15	48	models	model	NOUN
cjfa-34397	15	49	show	show	VERB
cjfa-34397	15	50	significant	significant	ADJ
cjfa-34397	15	51	positive	positive	ADJ
cjfa-34397	15	52	mta	mta	PROPN
cjfa-34397	15	53	.	.	PUNCT
cjfa-34397	16	1	the	the	DET
cjfa-34397	16	2	study	study	NOUN
cjfa-34397	16	3	also	also	ADV
cjfa-34397	16	4	highlights	highlight	VERB
cjfa-34397	16	5	that	that	SCONJ
cjfa-34397	16	6	the	the	DET
cjfa-34397	16	7	inclusion	inclusion	NOUN
cjfa-34397	16	8	of	of	ADP
cjfa-34397	16	9	the	the	DET
cjfa-34397	16	10	public	public	ADJ
cjfa-34397	16	11	information	information	NOUN
cjfa-34397	16	12	variables	variable	NOUN
cjfa-34397	16	13	reconstitutes	reconstitute	VERB
cjfa-34397	16	14	the	the	DET
cjfa-34397	16	15	impact	impact	NOUN
cjfa-34397	16	16	of	of	ADP
cjfa-34397	16	17	the	the	DET
cjfa-34397	16	18	market	market	NOUN
cjfa-34397	16	19	timing	timing	NOUN
cjfa-34397	16	20	factor	factor	NOUN
cjfa-34397	16	21	and	and	CCONJ
cjfa-34397	16	22	other	other	ADJ
cjfa-34397	16	23	beta	beta	ADJ
cjfa-34397	16	24	estimates	estimate	NOUN
cjfa-34397	16	25	in	in	ADP
cjfa-34397	16	26	the	the	DET
cjfa-34397	16	27	model	model	NOUN
cjfa-34397	16	28	.	.	PUNCT
cjfa-34397	16	29	 	 	SPACE
cjfa-34397	17	1	introduction	introduction	NOUN
cjfa-34397	17	2	the	the	DET
cjfa-34397	17	3	mutual	mutual	ADJ
cjfa-34397	17	4	fund	fund	NOUN
cjfa-34397	17	5	industry	industry	NOUN
cjfa-34397	17	6	in	in	ADP
cjfa-34397	17	7	india	india	PROPN
cjfa-34397	17	8	has	have	AUX
cjfa-34397	17	9	attained	attain	VERB
cjfa-34397	17	10	substantial	substantial	ADJ
cjfa-34397	17	11	progress	progress	NOUN
cjfa-34397	17	12	in	in	ADP
cjfa-34397	17	13	the	the	DET
cjfa-34397	17	14	past	past	ADJ
cjfa-34397	17	15	two	two	NUM
cjfa-34397	17	16	decades	decade	NOUN
cjfa-34397	17	17	.	.	PUNCT
cjfa-34397	18	1	according	accord	VERB
cjfa-34397	18	2	to	to	ADP
cjfa-34397	18	3	amfi	amfi	PROPN
cjfa-34397	18	4	(	(	PUNCT
cjfa-34397	18	5	2020	2020	NUM
cjfa-34397	18	6	)	)	PUNCT
cjfa-34397	18	7	,	,	PUNCT
cjfa-34397	18	8	“	"	PUNCT
cjfa-34397	18	9	the	the	DET
cjfa-34397	18	10	assets	asset	NOUN
cjfa-34397	18	11	under	under	ADP
cjfa-34397	18	12	management	management	NOUN
cjfa-34397	18	13	of	of	ADP
cjfa-34397	18	14	indian	indian	ADJ
cjfa-34397	18	15	mutual	mutual	ADJ
cjfa-34397	18	16	fund	fund	NOUN
cjfa-34397	18	17	industry	industry	NOUN
cjfa-34397	18	18	have	have	AUX
cjfa-34397	18	19	grown	grow	VERB
cjfa-34397	18	20	from	from	ADP
cjfa-34397	18	21	rs	rs	NOUN
cjfa-34397	18	22	.	.	PUNCT
cjfa-34397	19	1	26.94	26.94	NUM
cjfa-34397	19	2	trillion	trillion	NUM
cjfa-34397	19	3	in	in	ADP
cjfa-34397	19	4	november	november	PROPN
cjfa-34397	19	5	2019	2019	NUM
cjfa-34397	19	6	to	to	PART
cjfa-34397	19	7	rs	rs	VERB
cjfa-34397	19	8	.	.	PUNCT
cjfa-34397	20	1	29.83	29.83	NUM
cjfa-34397	20	2	trillion	trillion	NUM
cjfa-34397	20	3	in	in	ADP
cjfa-34397	20	4	november	november	PROPN
cjfa-34397	20	5	2020	2020	NUM
cjfa-34397	20	6	”	"	PUNCT
cjfa-34397	20	7	.	.	PUNCT
cjfa-34397	21	1	the	the	DET
cjfa-34397	21	2	fund	fund	NOUN
cjfa-34397	21	3	managers	manager	NOUN
cjfa-34397	21	4	in	in	ADP
cjfa-34397	21	5	india	india	PROPN
cjfa-34397	21	6	are	be	AUX
cjfa-34397	21	7	active	active	ADJ
cjfa-34397	21	8	in	in	ADP
cjfa-34397	21	9	wealth	wealth	NOUN
cjfa-34397	21	10	maximisation	maximisation	NOUN
cjfa-34397	21	11	,	,	PUNCT
cjfa-34397	21	12	diversification	diversification	NOUN
cjfa-34397	21	13	of	of	ADP
cjfa-34397	21	14	portfolio	portfolio	NOUN
cjfa-34397	21	15	risk	risk	NOUN
cjfa-34397	21	16	,	,	PUNCT
cjfa-34397	21	17	and	and	CCONJ
cjfa-34397	21	18	effective	effective	ADJ
cjfa-34397	21	19	and	and	CCONJ
cjfa-34397	21	20	efficient	efficient	ADJ
cjfa-34397	21	21	selection	selection	NOUN
cjfa-34397	21	22	of	of	ADP
cjfa-34397	21	23	portfolios	portfolio	NOUN
cjfa-34397	21	24	.	.	PUNCT
cjfa-34397	22	1	with	with	ADP
cjfa-34397	22	2	the	the	DET
cjfa-34397	22	3	rapid	rapid	ADJ
cjfa-34397	22	4	growth	growth	NOUN
cjfa-34397	22	5	of	of	ADP
cjfa-34397	22	6	the	the	DET
cjfa-34397	22	7	industry	industry	NOUN
cjfa-34397	22	8	,	,	PUNCT
cjfa-34397	22	9	the	the	DET
cjfa-34397	22	10	investors	investor	NOUN
cjfa-34397	22	11	seek	seek	VERB
cjfa-34397	22	12	the	the	DET
cjfa-34397	22	13	answers	answer	NOUN
cjfa-34397	22	14	concerning	concern	VERB
cjfa-34397	22	15	the	the	DET
cjfa-34397	22	16	market	market	NOUN
cjfa-34397	22	17	timing	timing	NOUN
cjfa-34397	22	18	ability	ability	NOUN
cjfa-34397	22	19	(	(	PUNCT
cjfa-34397	22	20	mta	mta	PROPN
cjfa-34397	22	21	)	)	PUNCT
cjfa-34397	22	22	of	of	ADP
cjfa-34397	22	23	fund	fund	NOUN
cjfa-34397	22	24	managers	manager	NOUN
cjfa-34397	22	25	.	.	PUNCT
cjfa-34397	23	1	many	many	ADJ
cjfa-34397	23	2	methods	method	NOUN
cjfa-34397	23	3	have	have	AUX
cjfa-34397	23	4	been	be	AUX
cjfa-34397	23	5	used	use	VERB
cjfa-34397	23	6	in	in	ADP
cjfa-34397	23	7	the	the	DET
cjfa-34397	23	8	literature	literature	NOUN
cjfa-34397	23	9	to	to	PART
cjfa-34397	23	10	measure	measure	VERB
cjfa-34397	23	11	the	the	DET
cjfa-34397	23	12	mta	mta	PROPN
cjfa-34397	23	13	.	.	PUNCT
cjfa-34397	24	1	among	among	ADP
cjfa-34397	24	2	those	those	PRON
cjfa-34397	24	3	,	,	PUNCT
cjfa-34397	24	4	the	the	DET
cjfa-34397	24	5	model	model	NOUN
cjfa-34397	24	6	proposed	propose	VERB
cjfa-34397	24	7	by	by	ADP
cjfa-34397	24	8	treynor	treynor	NOUN
cjfa-34397	24	9	and	and	CCONJ
cjfa-34397	24	10	mazuy	mazuy	PROPN
cjfa-34397	24	11	(	(	PUNCT
cjfa-34397	24	12	1966	1966	NUM
cjfa-34397	24	13	)	)	PUNCT
cjfa-34397	24	14	and	and	CCONJ
cjfa-34397	24	15	the	the	DET
cjfa-34397	24	16	model	model	NOUN
cjfa-34397	24	17	proposed	propose	VERB
cjfa-34397	24	18	by	by	ADP
cjfa-34397	24	19	henriksson	henriksson	NOUN
cjfa-34397	24	20	and	and	CCONJ
cjfa-34397	24	21	merton	merton	PROPN
cjfa-34397	24	22	(	(	PUNCT
cjfa-34397	24	23	1981	1981	NUM
cjfa-34397	24	24	)	)	PUNCT
cjfa-34397	24	25	are	be	AUX
cjfa-34397	24	26	commonly	commonly	ADV
cjfa-34397	24	27	used	use	VERB
cjfa-34397	24	28	.	.	PUNCT
cjfa-34397	25	1	the	the	DET
cjfa-34397	25	2	study	study	NOUN
cjfa-34397	25	3	employs	employ	VERB
cjfa-34397	25	4	these	these	DET
cjfa-34397	25	5	two	two	NUM
cjfa-34397	25	6	methods	method	NOUN
cjfa-34397	25	7	with	with	ADP
cjfa-34397	25	8	public	public	ADJ
cjfa-34397	25	9	information	information	NOUN
cjfa-34397	25	10	variables	variable	NOUN
cjfa-34397	25	11	,	,	PUNCT
cjfa-34397	25	12	an	an	DET
cjfa-34397	25	13	improvement	improvement	NOUN
cjfa-34397	25	14	with	with	ADP
cjfa-34397	25	15	the	the	DET
cjfa-34397	25	16	traditional	traditional	ADJ
cjfa-34397	25	17	measures	measure	NOUN
cjfa-34397	25	18	(	(	PUNCT
cjfa-34397	25	19	becker	becker	NOUN
cjfa-34397	25	20	,	,	PUNCT
cjfa-34397	25	21	ferson	ferson	NOUN
cjfa-34397	25	22	,	,	PUNCT
cjfa-34397	25	23	myers	myers	PROPN
cjfa-34397	25	24	&	&	CCONJ
cjfa-34397	25	25	schill	schill	PROPN
cjfa-34397	25	26	,	,	PUNCT
cjfa-34397	25	27	1999	1999	NUM
cjfa-34397	25	28	;	;	PUNCT
cjfa-34397	26	1	n.	n.	PROPN
cjfa-34397	26	2	p.	p.	PROPN
cjfa-34397	26	3	b.	b.	PROPN
cjfa-34397	26	4	bollen	bollen	PROPN
cjfa-34397	26	5	&	&	CCONJ
cjfa-34397	26	6	busse	busse	PROPN
cjfa-34397	26	7	,	,	PUNCT
cjfa-34397	26	8	2001	2001	NUM
cjfa-34397	26	9	;	;	PUNCT
cjfa-34397	26	10	bollen	bollen	PROPN
cjfa-34397	26	11	&	&	CCONJ
cjfa-34397	26	12	pool	pool	PROPN
cjfa-34397	26	13	,	,	PUNCT
cjfa-34397	26	14	2008	2008	NUM
cjfa-34397	26	15	;	;	PUNCT
cjfa-34397	26	16	deb	deb	PROPN
cjfa-34397	26	17	,	,	PUNCT
cjfa-34397	26	18	2019	2019	NUM
cjfa-34397	26	19	;	;	PUNCT
cjfa-34397	26	20	dhar	dhar	PROPN
cjfa-34397	26	21	&	&	CCONJ
cjfa-34397	26	22	mandal	mandal	PROPN
cjfa-34397	26	23	,	,	PUNCT
cjfa-34397	26	24	2014	2014	NUM
cjfa-34397	26	25	;	;	PUNCT
cjfa-34397	26	26	elton	elton	PROPN
cjfa-34397	26	27	,	,	PUNCT
cjfa-34397	26	28	gruber	gruber	PROPN
cjfa-34397	26	29	&	&	CCONJ
cjfa-34397	26	30	blake	blake	PROPN
cjfa-34397	26	31	,	,	PUNCT
cjfa-34397	26	32	2012	2012	NUM
cjfa-34397	26	33	;	;	PUNCT
cjfa-34397	26	34	ferson	ferson	NOUN
cjfa-34397	26	35	&	&	CCONJ
cjfa-34397	26	36	warther	warther	PROPN
cjfa-34397	26	37	,	,	PUNCT
cjfa-34397	26	38	1996	1996	NUM
cjfa-34397	26	39	;	;	PUNCT
cjfa-34397	26	40	sehgal	sehgal	PROPN
cjfa-34397	26	41	&	&	CCONJ
cjfa-34397	26	42	babbar	babbar	PROPN
cjfa-34397	26	43	,	,	PUNCT
cjfa-34397	26	44	2017	2017	NUM
cjfa-34397	26	45	;	;	PUNCT
cjfa-34397	26	46	sehgal	sehgal	PROPN
cjfa-34397	26	47	&	&	CCONJ
cjfa-34397	26	48	jhanwar	jhanwar	PROPN
cjfa-34397	26	49	,	,	PUNCT
cjfa-34397	26	50	2008	2008	NUM
cjfa-34397	26	51	)	)	PUNCT
cjfa-34397	26	52	.	.	PUNCT
cjfa-34397	27	1	the	the	DET
cjfa-34397	27	2	conditional	conditional	ADJ
cjfa-34397	27	3	version	version	NOUN
cjfa-34397	27	4	applied	apply	VERB
cjfa-34397	27	5	with	with	ADP
cjfa-34397	27	6	public	public	ADJ
cjfa-34397	27	7	information	information	NOUN
cjfa-34397	27	8	variables	variable	NOUN
cjfa-34397	27	9	assumes	assume	VERB
cjfa-34397	27	10	semi	semi	ADJ
cjfa-34397	27	11	-	-	ADJ
cjfa-34397	27	12	strong	strong	ADJ
cjfa-34397	27	13	market	market	NOUN
cjfa-34397	27	14	efficiency	efficiency	NOUN
cjfa-34397	27	15	.	.	PUNCT
cjfa-34397	28	1	the	the	DET
cjfa-34397	28	2	present	present	ADJ
cjfa-34397	28	3	research	research	NOUN
cjfa-34397	28	4	paper	paper	NOUN
cjfa-34397	28	5	consists	consist	VERB
cjfa-34397	28	6	of	of	ADP
cjfa-34397	28	7	six	six	NUM
cjfa-34397	28	8	sections	section	NOUN
cjfa-34397	28	9	.	.	PUNCT
cjfa-34397	29	1	section	section	NOUN
cjfa-34397	29	2	2	2	NUM
cjfa-34397	29	3	surveys	survey	NOUN
cjfa-34397	29	4	the	the	DET
cjfa-34397	29	5	existing	exist	VERB
cjfa-34397	29	6	academic	academic	ADJ
cjfa-34397	29	7	literature	literature	NOUN
cjfa-34397	29	8	on	on	ADP
cjfa-34397	29	9	mta	mta	PROPN
cjfa-34397	29	10	.	.	PUNCT
cjfa-34397	30	1	section	section	NOUN
cjfa-34397	30	2	3	3	NUM
cjfa-34397	30	3	gives	give	VERB
cjfa-34397	30	4	a	a	DET
cjfa-34397	30	5	brief	brief	ADJ
cjfa-34397	30	6	information	information	NOUN
cjfa-34397	30	7	on	on	ADP
cjfa-34397	30	8	the	the	DET
cjfa-34397	30	9	data	datum	NOUN
cjfa-34397	30	10	under	under	ADP
cjfa-34397	30	11	this	this	DET
cjfa-34397	30	12	study	study	NOUN
cjfa-34397	30	13	and	and	CCONJ
cjfa-34397	30	14	their	their	PRON
cjfa-34397	30	15	sources	source	NOUN
cjfa-34397	30	16	.	.	PUNCT
cjfa-34397	31	1	section	section	NOUN
cjfa-34397	31	2	4	4	NUM
cjfa-34397	31	3	summarises	summarise	VERB
cjfa-34397	31	4	the	the	DET
cjfa-34397	31	5	research	research	NOUN
cjfa-34397	31	6	methodology	methodology	NOUN
cjfa-34397	31	7	.	.	PUNCT
cjfa-34397	32	1	the	the	DET
cjfa-34397	32	2	empirical	empirical	ADJ
cjfa-34397	32	3	results	result	NOUN
cjfa-34397	32	4	are	be	AUX
cjfa-34397	32	5	discussed	discuss	VERB
cjfa-34397	32	6	in	in	ADP
cjfa-34397	32	7	section	section	NOUN
cjfa-34397	32	8	5	5	NUM
cjfa-34397	32	9	.	.	PUNCT
cjfa-34397	33	1	the	the	DET
cjfa-34397	33	2	findings	finding	NOUN
cjfa-34397	33	3	and	and	CCONJ
cjfa-34397	33	4	the	the	DET
cjfa-34397	33	5	concluding	concluding	NOUN
cjfa-34397	33	6	remarks	remark	NOUN
cjfa-34397	33	7	are	be	AUX
cjfa-34397	33	8	presented	present	VERB
cjfa-34397	33	9	in	in	ADP
cjfa-34397	33	10	section	section	NOUN
cjfa-34397	33	11	6	6	NUM
cjfa-34397	33	12	.	.	PUNCT
cjfa-34397	34	1	review	review	NOUN
cjfa-34397	34	2	of	of	ADP
cjfa-34397	34	3	literature	literature	NOUN
cjfa-34397	34	4	in	in	ADP
cjfa-34397	34	5	the	the	DET
cjfa-34397	34	6	early	early	ADJ
cjfa-34397	34	7	1990s	1990	NOUN
cjfa-34397	34	8	,	,	PUNCT
cjfa-34397	34	9	the	the	DET
cjfa-34397	34	10	researches	research	NOUN
cjfa-34397	34	11	on	on	ADP
cjfa-34397	34	12	mutual	mutual	ADJ
cjfa-34397	34	13	funds	fund	NOUN
cjfa-34397	34	14	extended	extend	VERB
cjfa-34397	34	15	to	to	PART
cjfa-34397	34	16	study	study	VERB
cjfa-34397	34	17	the	the	DET
cjfa-34397	34	18	performance	performance	NOUN
cjfa-34397	34	19	evaluation	evaluation	NOUN
cjfa-34397	34	20	,	,	PUNCT
cjfa-34397	34	21	persistence	persistence	NOUN
cjfa-34397	34	22	of	of	ADP
cjfa-34397	34	23	performance	performance	NOUN
cjfa-34397	34	24	,	,	PUNCT
cjfa-34397	34	25	stock	stock	NOUN
cjfa-34397	34	26	-	-	PUNCT
cjfa-34397	34	27	picking	picking	NOUN
cjfa-34397	34	28	skills	skill	NOUN
cjfa-34397	34	29	(	(	PUNCT
cjfa-34397	34	30	sps	sps	NOUN
cjfa-34397	34	31	)	)	PUNCT
cjfa-34397	34	32	and	and	CCONJ
cjfa-34397	34	33	market	market	NOUN
cjfa-34397	34	34	timing	timing	NOUN
cjfa-34397	34	35	abilities	ability	NOUN
cjfa-34397	34	36	(	(	PUNCT
cjfa-34397	34	37	mta	mta	PROPN
cjfa-34397	34	38	)	)	PUNCT
cjfa-34397	34	39	.	.	PUNCT
cjfa-34397	35	1	although	although	SCONJ
cjfa-34397	35	2	most	most	ADJ
cjfa-34397	35	3	of	of	ADP
cjfa-34397	35	4	the	the	DET
cjfa-34397	35	5	studies	study	NOUN
cjfa-34397	35	6	were	be	AUX
cjfa-34397	35	7	based	base	VERB
cjfa-34397	35	8	on	on	ADP
cjfa-34397	35	9	the	the	DET
cjfa-34397	35	10	capm	capm	PROPN
cjfa-34397	35	11	with	with	ADP
cjfa-34397	35	12	multifactor	multifactor	NOUN
cjfa-34397	35	13	portfolio	portfolio	NOUN
cjfa-34397	35	14	benchmarks	benchmark	NOUN
cjfa-34397	35	15	,	,	PUNCT
cjfa-34397	35	16	a	a	DET
cjfa-34397	35	17	few	few	ADJ
cjfa-34397	35	18	studies	study	NOUN
cjfa-34397	35	19	(	(	PUNCT
cjfa-34397	35	20	jensen	jensen	PROPN
cjfa-34397	35	21	,	,	PUNCT
cjfa-34397	35	22	1968	1968	NUM
cjfa-34397	35	23	;	;	PUNCT
cjfa-34397	35	24	sharpe	sharpe	PROPN
cjfa-34397	35	25	,	,	PUNCT
cjfa-34397	35	26	1966	1966	NUM
cjfa-34397	35	27	;	;	PUNCT
cjfa-34397	35	28	treynor	treynor	NOUN
cjfa-34397	35	29	,	,	PUNCT
cjfa-34397	35	30	1965	1965	NUM
cjfa-34397	35	31	)	)	PUNCT
cjfa-34397	35	32	failed	fail	VERB
cjfa-34397	35	33	to	to	PART
cjfa-34397	35	34	report	report	VERB
cjfa-34397	35	35	superior	superior	ADJ
cjfa-34397	35	36	fund	fund	NOUN
cjfa-34397	35	37	performance	performance	NOUN
cjfa-34397	35	38	.	.	PUNCT
cjfa-34397	36	1	grinblatt	grinblatt	NOUN
cjfa-34397	36	2	and	and	CCONJ
cjfa-34397	36	3	titman	titman	NOUN
cjfa-34397	36	4	(	(	PUNCT
cjfa-34397	36	5	1989	1989	NUM
cjfa-34397	36	6	)	)	PUNCT
cjfa-34397	36	7	propose	propose	VERB
cjfa-34397	36	8	multiple	multiple	ADJ
cjfa-34397	36	9	benchmark	benchmark	NOUN
cjfa-34397	36	10	portfolios	portfolio	NOUN
cjfa-34397	36	11	based	base	VERB
cjfa-34397	36	12	on	on	ADP
cjfa-34397	36	13	the	the	DET
cjfa-34397	36	14	market	market	NOUN
cjfa-34397	36	15	timing	timing	NOUN
cjfa-34397	36	16	abilities	ability	NOUN
cjfa-34397	36	17	of	of	ADP
cjfa-34397	36	18	large	large	ADJ
cjfa-34397	36	19	-	-	PUNCT
cjfa-34397	36	20	cap	cap	NOUN
cjfa-34397	36	21	equity	equity	NOUN
cjfa-34397	36	22	mutual	mutual	ADJ
cjfa-34397	36	23	fund	fund	NOUN
cjfa-34397	36	24	managers	manager	NOUN
cjfa-34397	36	25	…	…	SYM
cjfa-34397	36	26	89	89	NUM
cjfa-34397	36	27	firms	firm	NOUN
cjfa-34397	36	28	’	'	PUNCT
cjfa-34397	36	29	characteristics	characteristic	NOUN
cjfa-34397	36	30	such	such	ADJ
cjfa-34397	36	31	as	as	ADP
cjfa-34397	36	32	size	size	NOUN
cjfa-34397	36	33	,	,	PUNCT
cjfa-34397	36	34	past	past	ADJ
cjfa-34397	36	35	returns	return	NOUN
cjfa-34397	36	36	,	,	PUNCT
cjfa-34397	36	37	and	and	CCONJ
cjfa-34397	36	38	dividend	dividend	NOUN
cjfa-34397	36	39	yield	yield	NOUN
cjfa-34397	36	40	.	.	PUNCT
cjfa-34397	37	1	the	the	DET
cjfa-34397	37	2	models	model	NOUN
cjfa-34397	37	3	with	with	ADP
cjfa-34397	37	4	the	the	DET
cjfa-34397	37	5	empirical	empirical	ADJ
cjfa-34397	37	6	explanation	explanation	NOUN
cjfa-34397	37	7	of	of	ADP
cjfa-34397	37	8	the	the	DET
cjfa-34397	37	9	returns	return	NOUN
cjfa-34397	37	10	of	of	ADP
cjfa-34397	37	11	the	the	DET
cjfa-34397	37	12	assets	asset	NOUN
cjfa-34397	37	13	(	(	PUNCT
cjfa-34397	37	14	fama	fama	PROPN
cjfa-34397	37	15	&	&	CCONJ
cjfa-34397	37	16	french	french	PROPN
cjfa-34397	37	17	,	,	PUNCT
cjfa-34397	37	18	1993	1993	NUM
cjfa-34397	37	19	;	;	PUNCT
cjfa-34397	37	20	ippolito	ippolito	PROPN
cjfa-34397	37	21	,	,	PUNCT
cjfa-34397	37	22	1986	1986	NUM
cjfa-34397	37	23	)	)	PUNCT
cjfa-34397	37	24	are	be	AUX
cjfa-34397	37	25	also	also	ADV
cjfa-34397	37	26	proposed	propose	VERB
cjfa-34397	37	27	.	.	PUNCT
cjfa-34397	38	1	carhart	carhart	NOUN
cjfa-34397	38	2	(	(	PUNCT
cjfa-34397	38	3	1997	1997	NUM
cjfa-34397	38	4	)	)	PUNCT
cjfa-34397	38	5	studied	study	VERB
cjfa-34397	38	6	the	the	DET
cjfa-34397	38	7	impact	impact	NOUN
cjfa-34397	38	8	of	of	ADP
cjfa-34397	38	9	the	the	DET
cjfa-34397	38	10	momentum	momentum	NOUN
cjfa-34397	38	11	factor	factor	NOUN
cjfa-34397	38	12	along	along	ADV
cjfa-34397	38	13	with	with	ADP
cjfa-34397	38	14	three	three	NUM
cjfa-34397	38	15	-	-	PUNCT
cjfa-34397	38	16	factors	factor	NOUN
cjfa-34397	38	17	studied	study	VERB
cjfa-34397	38	18	by	by	ADP
cjfa-34397	38	19	fama	fama	PROPN
cjfa-34397	38	20	and	and	CCONJ
cjfa-34397	38	21	french	french	ADJ
cjfa-34397	38	22	(	(	PUNCT
cjfa-34397	38	23	1993	1993	NUM
cjfa-34397	38	24	)	)	PUNCT
cjfa-34397	38	25	.	.	PUNCT
cjfa-34397	39	1	the	the	DET
cjfa-34397	39	2	multi	multi	ADJ
cjfa-34397	39	3	-	-	NOUN
cjfa-34397	39	4	factor	factor	NOUN
cjfa-34397	39	5	are	be	AUX
cjfa-34397	39	6	found	find	VERB
cjfa-34397	39	7	to	to	PART
cjfa-34397	39	8	be	be	AUX
cjfa-34397	39	9	explaining	explain	VERB
cjfa-34397	39	10	the	the	DET
cjfa-34397	39	11	performance	performance	NOUN
cjfa-34397	39	12	of	of	ADP
cjfa-34397	39	13	the	the	DET
cjfa-34397	39	14	funds	fund	NOUN
cjfa-34397	39	15	are	be	AUX
cjfa-34397	39	16	better	well	ADJ
cjfa-34397	39	17	than	than	ADP
cjfa-34397	39	18	a	a	DET
cjfa-34397	39	19	single	single	ADJ
cjfa-34397	39	20	factor	factor	NOUN
cjfa-34397	39	21	model	model	NOUN
cjfa-34397	39	22	.	.	PUNCT
cjfa-34397	40	1	to	to	PART
cjfa-34397	40	2	assess	assess	VERB
cjfa-34397	40	3	the	the	DET
cjfa-34397	40	4	mta	mta	PROPN
cjfa-34397	40	5	,	,	PUNCT
cjfa-34397	40	6	treynor	treynor	NOUN
cjfa-34397	40	7	and	and	CCONJ
cjfa-34397	40	8	mazuy	mazuy	PROPN
cjfa-34397	40	9	(	(	PUNCT
cjfa-34397	40	10	1966	1966	NUM
cjfa-34397	40	11	)	)	PUNCT
cjfa-34397	40	12	proposed	propose	VERB
cjfa-34397	40	13	a	a	DET
cjfa-34397	40	14	model	model	NOUN
cjfa-34397	40	15	(	(	PUNCT
cjfa-34397	40	16	hereafter	hereafter	ADV
cjfa-34397	40	17	,	,	PUNCT
cjfa-34397	40	18	tm	tm	PRON
cjfa-34397	40	19	model	model	NOUN
cjfa-34397	40	20	)	)	PUNCT
cjfa-34397	40	21	.	.	PUNCT
cjfa-34397	41	1	having	have	VERB
cjfa-34397	41	2	this	this	DET
cjfa-34397	41	3	model	model	NOUN
cjfa-34397	41	4	as	as	ADP
cjfa-34397	41	5	a	a	DET
cjfa-34397	41	6	base	base	NOUN
cjfa-34397	41	7	,	,	PUNCT
cjfa-34397	41	8	henriksson	henriksson	NOUN
cjfa-34397	41	9	and	and	CCONJ
cjfa-34397	41	10	merton	merton	PROPN
cjfa-34397	41	11	(	(	PUNCT
cjfa-34397	41	12	1981	1981	NUM
cjfa-34397	41	13	)	)	PUNCT
cjfa-34397	41	14	proposed	propose	VERB
cjfa-34397	41	15	a	a	DET
cjfa-34397	41	16	model	model	NOUN
cjfa-34397	41	17	(	(	PUNCT
cjfa-34397	41	18	hereafter	hereafter	ADV
cjfa-34397	41	19	,	,	PUNCT
cjfa-34397	41	20	hm	hm	INTJ
cjfa-34397	41	21	model	model	NOUN
cjfa-34397	41	22	)	)	PUNCT
cjfa-34397	41	23	,	,	PUNCT
cjfa-34397	41	24	with	with	ADP
cjfa-34397	41	25	the	the	DET
cjfa-34397	41	26	replacement	replacement	NOUN
cjfa-34397	41	27	of	of	ADP
cjfa-34397	41	28	quadratic	quadratic	ADJ
cjfa-34397	41	29	term	term	NOUN
cjfa-34397	41	30	by	by	ADP
cjfa-34397	41	31	a	a	DET
cjfa-34397	41	32	dummy	dummy	ADJ
cjfa-34397	41	33	variable	variable	NOUN
cjfa-34397	41	34	with	with	ADP
cjfa-34397	41	35	maximum	maximum	ADJ
cjfa-34397	41	36	1	1	NUM
cjfa-34397	41	37	and	and	CCONJ
cjfa-34397	41	38	minimum	minimum	NOUN
cjfa-34397	41	39	0	0	NUM
cjfa-34397	41	40	.	.	PUNCT
cjfa-34397	42	1	a	a	DET
cjfa-34397	42	2	parametric	parametric	ADJ
cjfa-34397	42	3	statistical	statistical	ADJ
cjfa-34397	42	4	test	test	NOUN
cjfa-34397	42	5	by	by	ADP
cjfa-34397	42	6	kon	kon	PROPN
cjfa-34397	42	7	and	and	CCONJ
cjfa-34397	42	8	jen	jen	PROPN
cjfa-34397	42	9	(	(	PUNCT
cjfa-34397	42	10	1979	1979	NUM
cjfa-34397	42	11	)	)	PUNCT
cjfa-34397	42	12	and	and	CCONJ
cjfa-34397	42	13	chang	chang	PROPN
cjfa-34397	42	14	and	and	CCONJ
cjfa-34397	42	15	lewellen	lewellen	PROPN
cjfa-34397	42	16	(	(	PUNCT
cjfa-34397	42	17	1984	1984	NUM
cjfa-34397	42	18	)	)	PUNCT
cjfa-34397	42	19	finds	find	VERB
cjfa-34397	42	20	no	no	DET
cjfa-34397	42	21	mta	mta	NOUN
cjfa-34397	42	22	of	of	ADP
cjfa-34397	42	23	passive	passive	ADJ
cjfa-34397	42	24	investment	investment	NOUN
cjfa-34397	42	25	managers	manager	NOUN
cjfa-34397	42	26	.	.	PUNCT
cjfa-34397	43	1	a	a	DET
cjfa-34397	43	2	number	number	NOUN
cjfa-34397	43	3	of	of	ADP
cjfa-34397	43	4	extensions	extension	NOUN
cjfa-34397	43	5	on	on	ADP
cjfa-34397	43	6	tm	tm	PROPN
cjfa-34397	43	7	models	model	NOUN
cjfa-34397	43	8	are	be	AUX
cjfa-34397	43	9	also	also	ADV
cjfa-34397	43	10	developed	develop	VERB
cjfa-34397	43	11	(	(	PUNCT
cjfa-34397	43	12	fletcher	fletcher	PROPN
cjfa-34397	43	13	,	,	PUNCT
cjfa-34397	43	14	1995	1995	NUM
cjfa-34397	43	15	;	;	PUNCT
cjfa-34397	43	16	jagannathan	jagannathan	PROPN
cjfa-34397	43	17	&	&	CCONJ
cjfa-34397	43	18	korajczyk	korajczyk	PROPN
cjfa-34397	43	19	,	,	PUNCT
cjfa-34397	43	20	1986	1986	NUM
cjfa-34397	43	21	;	;	PUNCT
cjfa-34397	43	22	lee	lee	PROPN
cjfa-34397	43	23	&	&	CCONJ
cjfa-34397	43	24	rahman	rahman	PROPN
cjfa-34397	43	25	,	,	PUNCT
cjfa-34397	43	26	1990	1990	NUM
cjfa-34397	43	27	)	)	PUNCT
cjfa-34397	43	28	.	.	PUNCT
cjfa-34397	44	1	becker	becker	PROPN
cjfa-34397	44	2	et	et	PROPN
cjfa-34397	44	3	al	al	PROPN
cjfa-34397	44	4	.	.	PROPN
cjfa-34397	44	5	(	(	PUNCT
cjfa-34397	44	6	1999	1999	NUM
cjfa-34397	44	7	)	)	PUNCT
cjfa-34397	44	8	suggests	suggest	VERB
cjfa-34397	44	9	that	that	SCONJ
cjfa-34397	44	10	the	the	DET
cjfa-34397	44	11	model	model	NOUN
cjfa-34397	44	12	specification	specification	NOUN
cjfa-34397	44	13	could	could	AUX
cjfa-34397	44	14	be	be	AUX
cjfa-34397	44	15	improved	improve	VERB
cjfa-34397	44	16	by	by	ADP
cjfa-34397	44	17	conditioning	condition	VERB
cjfa-34397	44	18	on	on	ADP
cjfa-34397	44	19	the	the	DET
cjfa-34397	44	20	variables	variable	NOUN
cjfa-34397	44	21	of	of	ADP
cjfa-34397	44	22	public	public	ADJ
cjfa-34397	44	23	information	information	NOUN
cjfa-34397	44	24	,	,	PUNCT
cjfa-34397	44	25	and	and	CCONJ
cjfa-34397	44	26	no	no	DET
cjfa-34397	44	27	significant	significant	ADJ
cjfa-34397	44	28	evidence	evidence	NOUN
cjfa-34397	44	29	for	for	ADP
cjfa-34397	44	30	mta	mta	PROPN
cjfa-34397	44	31	,	,	PUNCT
cjfa-34397	44	32	after	after	ADP
cjfa-34397	44	33	controlling	control	VERB
cjfa-34397	44	34	for	for	ADP
cjfa-34397	44	35	the	the	DET
cjfa-34397	44	36	public	public	ADJ
cjfa-34397	44	37	information	information	NOUN
cjfa-34397	44	38	.	.	PUNCT
cjfa-34397	45	1	however	however	ADV
cjfa-34397	45	2	,	,	PUNCT
cjfa-34397	45	3	daily	daily	ADJ
cjfa-34397	45	4	data	datum	NOUN
cjfa-34397	45	5	is	be	AUX
cjfa-34397	45	6	found	find	VERB
cjfa-34397	45	7	to	to	PART
cjfa-34397	45	8	be	be	AUX
cjfa-34397	45	9	better	well	ADJ
cjfa-34397	45	10	than	than	ADP
cjfa-34397	45	11	monthly	monthly	ADJ
cjfa-34397	45	12	data	datum	NOUN
cjfa-34397	45	13	in	in	ADP
cjfa-34397	45	14	terms	term	NOUN
cjfa-34397	45	15	of	of	ADP
cjfa-34397	45	16	significant	significant	ADJ
cjfa-34397	45	17	mta	mta	PROPN
cjfa-34397	45	18	(	(	PUNCT
cjfa-34397	45	19	bollen	bollen	PROPN
cjfa-34397	45	20	&	&	CCONJ
cjfa-34397	45	21	busse	busse	PROPN
cjfa-34397	45	22	,	,	PUNCT
cjfa-34397	45	23	2001	2001	NUM
cjfa-34397	45	24	)	)	PUNCT
cjfa-34397	45	25	.	.	PUNCT
cjfa-34397	46	1	the	the	DET
cjfa-34397	46	2	nonparametric	nonparametric	NOUN
cjfa-34397	46	3	test	test	NOUN
cjfa-34397	46	4	on	on	ADP
cjfa-34397	46	5	large	large	ADJ
cjfa-34397	46	6	-	-	PUNCT
cjfa-34397	46	7	cap	cap	NOUN
cjfa-34397	46	8	mutual	mutual	ADJ
cjfa-34397	46	9	funds	fund	NOUN
cjfa-34397	46	10	from	from	ADP
cjfa-34397	46	11	1980-	1980-	NUM
cjfa-34397	46	12	 	 	SPACE
cjfa-34397	46	13	1999	1999	NUM
cjfa-34397	46	14	with	with	ADP
cjfa-34397	46	15	different	different	ADJ
cjfa-34397	46	16	benchmark	benchmark	NOUN
cjfa-34397	46	17	indices	index	NOUN
cjfa-34397	46	18	by	by	ADP
cjfa-34397	46	19	jiang	jiang	PROPN
cjfa-34397	46	20	(	(	PUNCT
cjfa-34397	46	21	2003	2003	NUM
cjfa-34397	46	22	)	)	PUNCT
cjfa-34397	46	23	does	do	AUX
cjfa-34397	46	24	not	not	PART
cjfa-34397	46	25	find	find	VERB
cjfa-34397	46	26	any	any	DET
cjfa-34397	46	27	significant	significant	ADJ
cjfa-34397	46	28	mta	mta	PROPN
cjfa-34397	46	29	.	.	PUNCT
cjfa-34397	47	1	christensen	christensen	PROPN
cjfa-34397	47	2	(	(	PUNCT
cjfa-34397	47	3	2005	2005	NUM
cjfa-34397	47	4	)	)	PUNCT
cjfa-34397	47	5	studies	study	NOUN
cjfa-34397	47	6	the	the	DET
cjfa-34397	47	7	sps	sps	PROPN
cjfa-34397	47	8	and	and	CCONJ
cjfa-34397	47	9	mta	mta	PROPN
cjfa-34397	47	10	in	in	ADP
cjfa-34397	47	11	danish	danish	ADJ
cjfa-34397	47	12	market	market	NOUN
cjfa-34397	47	13	by	by	ADP
cjfa-34397	47	14	applying	apply	VERB
cjfa-34397	47	15	single	single	ADJ
cjfa-34397	47	16	index	index	NOUN
cjfa-34397	47	17	,	,	PUNCT
cjfa-34397	47	18	multifactor	multifactor	NOUN
cjfa-34397	47	19	model	model	NOUN
cjfa-34397	47	20	,	,	PUNCT
cjfa-34397	47	21	quadradic	quadradic	ADJ
cjfa-34397	47	22	regression	regression	NOUN
cjfa-34397	47	23	approach	approach	NOUN
cjfa-34397	47	24	of	of	ADP
cjfa-34397	47	25	tm	tm	PROPN
cjfa-34397	47	26	model	model	NOUN
cjfa-34397	47	27	,	,	PUNCT
cjfa-34397	47	28	and	and	CCONJ
cjfa-34397	47	29	options	option	NOUN
cjfa-34397	47	30	approach	approach	NOUN
cjfa-34397	47	31	of	of	ADP
cjfa-34397	47	32	hm	hm	INTJ
cjfa-34397	47	33	model	model	NOUN
cjfa-34397	47	34	and	and	CCONJ
cjfa-34397	47	35	finds	find	VERB
cjfa-34397	47	36	no	no	DET
cjfa-34397	47	37	significant	significant	ADJ
cjfa-34397	47	38	evidence	evidence	NOUN
cjfa-34397	47	39	for	for	ADP
cjfa-34397	47	40	mta	mta	PROPN
cjfa-34397	47	41	.	.	PUNCT
cjfa-34397	48	1	chen	chen	PROPN
cjfa-34397	48	2	and	and	CCONJ
cjfa-34397	48	3	liang	liang	PROPN
cjfa-34397	48	4	(	(	PUNCT
cjfa-34397	48	5	2007	2007	NUM
cjfa-34397	48	6	)	)	PUNCT
cjfa-34397	48	7	examine	examine	VERB
cjfa-34397	48	8	the	the	DET
cjfa-34397	48	9	hedge	hedge	NOUN
cjfa-34397	48	10	funds	fund	NOUN
cjfa-34397	48	11	by	by	ADP
cjfa-34397	48	12	applying	apply	VERB
cjfa-34397	48	13	timing	timing	NOUN
cjfa-34397	48	14	return	return	NOUN
cjfa-34397	48	15	and	and	CCONJ
cjfa-34397	48	16	volatility	volatility	NOUN
cjfa-34397	48	17	together	together	ADV
cjfa-34397	48	18	,	,	PUNCT
cjfa-34397	48	19	relating	relate	VERB
cjfa-34397	48	20	the	the	DET
cjfa-34397	48	21	returns	return	NOUN
cjfa-34397	48	22	to	to	ADP
cjfa-34397	48	23	the	the	DET
cjfa-34397	48	24	sharpe	sharpe	PROPN
cjfa-34397	48	25	ratio	ratio	NOUN
cjfa-34397	48	26	and	and	CCONJ
cjfa-34397	48	27	find	find	VERB
cjfa-34397	48	28	significant	significant	ADJ
cjfa-34397	48	29	mta	mta	NOUN
cjfa-34397	48	30	in	in	ADP
cjfa-34397	48	31	a	a	DET
cjfa-34397	48	32	bear	bear	NOUN
cjfa-34397	48	33	market	market	NOUN
cjfa-34397	48	34	and	and	CCONJ
cjfa-34397	48	35	volatile	volatile	ADJ
cjfa-34397	48	36	market	market	NOUN
cjfa-34397	48	37	conditions	condition	NOUN
cjfa-34397	48	38	.	.	PUNCT
cjfa-34397	49	1	elton	elton	PROPN
cjfa-34397	49	2	et	et	PROPN
cjfa-34397	49	3	al	al	PROPN
cjfa-34397	49	4	.	.	PROPN
cjfa-34397	50	1	(	(	PUNCT
cjfa-34397	50	2	2012	2012	NUM
cjfa-34397	50	3	)	)	PUNCT
cjfa-34397	50	4	applied	apply	VERB
cjfa-34397	50	5	a	a	DET
cjfa-34397	50	6	single	single	ADJ
cjfa-34397	50	7	index	index	NOUN
cjfa-34397	50	8	model	model	NOUN
cjfa-34397	50	9	to	to	PART
cjfa-34397	50	10	study	study	VERB
cjfa-34397	50	11	the	the	DET
cjfa-34397	50	12	mta	mta	PROPN
cjfa-34397	50	13	with	with	ADP
cjfa-34397	50	14	monthly	monthly	ADJ
cjfa-34397	50	15	holdings	holding	NOUN
cjfa-34397	50	16	.	.	PUNCT
cjfa-34397	51	1	they	they	PRON
cjfa-34397	51	2	find	find	VERB
cjfa-34397	51	3	that	that	SCONJ
cjfa-34397	51	4	the	the	DET
cjfa-34397	51	5	managers	manager	NOUN
cjfa-34397	51	6	appear	appear	VERB
cjfa-34397	51	7	to	to	PART
cjfa-34397	51	8	show	show	VERB
cjfa-34397	51	9	a	a	DET
cjfa-34397	51	10	significant	significant	ADJ
cjfa-34397	51	11	positive	positive	ADJ
cjfa-34397	51	12	mta	mta	PROPN
cjfa-34397	51	13	.	.	PUNCT
cjfa-34397	52	1	the	the	DET
cjfa-34397	52	2	study	study	NOUN
cjfa-34397	52	3	using	use	VERB
cjfa-34397	52	4	fdr	fdr	PROPN
cjfa-34397	52	5	with	with	ADP
cjfa-34397	52	6	the	the	DET
cjfa-34397	52	7	inclusion	inclusion	NOUN
cjfa-34397	52	8	of	of	ADP
cjfa-34397	52	9	mta	mta	PROPN
cjfa-34397	52	10	variables	variable	NOUN
cjfa-34397	52	11	by	by	ADP
cjfa-34397	52	12	cuthbertson	cuthbertson	NOUN
cjfa-34397	52	13	and	and	CCONJ
cjfa-34397	52	14	nitzsche	nitzsche	NOUN
cjfa-34397	52	15	(	(	PUNCT
cjfa-34397	52	16	2013	2013	NUM
cjfa-34397	52	17	)	)	PUNCT
cjfa-34397	52	18	in	in	ADP
cjfa-34397	52	19	german	german	ADJ
cjfa-34397	52	20	market	market	NOUN
cjfa-34397	52	21	reveals	reveal	VERB
cjfa-34397	52	22	the	the	DET
cjfa-34397	52	23	positive	positive	ADJ
cjfa-34397	52	24	alpha	alpha	NOUN
cjfa-34397	52	25	performance	performance	NOUN
cjfa-34397	52	26	of	of	ADP
cjfa-34397	52	27	funds	fund	NOUN
cjfa-34397	52	28	.	.	PUNCT
cjfa-34397	53	1	in	in	ADP
cjfa-34397	53	2	indian	indian	ADJ
cjfa-34397	53	3	context	context	NOUN
cjfa-34397	53	4	,	,	PUNCT
cjfa-34397	53	5	the	the	DET
cjfa-34397	53	6	results	result	NOUN
cjfa-34397	53	7	of	of	ADP
cjfa-34397	53	8	the	the	DET
cjfa-34397	53	9	studies	study	NOUN
cjfa-34397	53	10	using	use	VERB
cjfa-34397	53	11	the	the	DET
cjfa-34397	53	12	unconditional	unconditional	ADJ
cjfa-34397	53	13	and	and	CCONJ
cjfa-34397	53	14	conditional	conditional	ADJ
cjfa-34397	53	15	models	model	NOUN
cjfa-34397	53	16	(	(	PUNCT
cjfa-34397	53	17	deb	deb	PROPN
cjfa-34397	53	18	,	,	PUNCT
cjfa-34397	53	19	banerjee	banerjee	PROPN
cjfa-34397	53	20	&	&	CCONJ
cjfa-34397	53	21	chakrabarti	chakrabarti	PROPN
cjfa-34397	53	22	,	,	PUNCT
cjfa-34397	53	23	2007	2007	NUM
cjfa-34397	53	24	;	;	PUNCT
cjfa-34397	53	25	dhar	dhar	PROPN
cjfa-34397	53	26	&	&	CCONJ
cjfa-34397	53	27	mandal	mandal	PROPN
cjfa-34397	53	28	,	,	PUNCT
cjfa-34397	53	29	2014	2014	NUM
cjfa-34397	53	30	;	;	PUNCT
cjfa-34397	53	31	sehgal	sehgal	PROPN
cjfa-34397	53	32	&	&	CCONJ
cjfa-34397	53	33	jhanwar	jhanwar	PROPN
cjfa-34397	53	34	,	,	PUNCT
cjfa-34397	53	35	2008	2008	NUM
cjfa-34397	53	36	;	;	PUNCT
cjfa-34397	53	37	tripathy	tripathy	PROPN
cjfa-34397	53	38	,	,	PUNCT
cjfa-34397	53	39	2005	2005	NUM
cjfa-34397	53	40	,	,	PUNCT
cjfa-34397	53	41	2006	2006	NUM
cjfa-34397	53	42	)	)	PUNCT
cjfa-34397	53	43	find	find	VERB
cjfa-34397	53	44	no	no	DET
cjfa-34397	53	45	evidence	evidence	NOUN
cjfa-34397	53	46	for	for	ADP
cjfa-34397	53	47	mta	mta	PROPN
cjfa-34397	53	48	and	and	CCONJ
cjfa-34397	53	49	sps	sps	PROPN
cjfa-34397	53	50	.	.	PUNCT
cjfa-34397	54	1	however	however	ADV
cjfa-34397	54	2	,	,	PUNCT
cjfa-34397	54	3	chopra	chopra	PROPN
cjfa-34397	54	4	(	(	PUNCT
cjfa-34397	54	5	2011	2011	NUM
cjfa-34397	54	6	)	)	PUNCT
cjfa-34397	54	7	documents	document	VERB
cjfa-34397	54	8	mixed	mix	VERB
cjfa-34397	54	9	results	result	NOUN
cjfa-34397	54	10	for	for	ADP
cjfa-34397	54	11	mta	mta	PROPN
cjfa-34397	54	12	.	.	PUNCT
cjfa-34397	55	1	sehgal	sehgal	PROPN
cjfa-34397	55	2	and	and	CCONJ
cjfa-34397	55	3	babbar	babbar	PROPN
cjfa-34397	55	4	(	(	PUNCT
cjfa-34397	55	5	2017	2017	NUM
cjfa-34397	55	6	)	)	PUNCT
cjfa-34397	55	7	proposes	propose	VERB
cjfa-34397	55	8	the	the	DET
cjfa-34397	55	9	alternative	alternative	ADJ
cjfa-34397	55	10	performance	performance	NOUN
cjfa-34397	55	11	benchmarks	benchmark	NOUN
cjfa-34397	55	12	for	for	ADP
cjfa-34397	55	13	evaluating	evaluate	VERB
cjfa-34397	55	14	the	the	DET
cjfa-34397	55	15	funds	fund	NOUN
cjfa-34397	55	16	.	.	PUNCT
cjfa-34397	56	1	the	the	DET
cjfa-34397	56	2	application	application	NOUN
cjfa-34397	56	3	of	of	ADP
cjfa-34397	56	4	the	the	DET
cjfa-34397	56	5	constrained	constrain	VERB
cjfa-34397	56	6	quadratic	quadratic	ADJ
cjfa-34397	56	7	factor	factor	NOUN
cjfa-34397	56	8	model	model	NOUN
cjfa-34397	56	9	by	by	ADP
cjfa-34397	56	10	mohanti	mohanti	NOUN
cjfa-34397	56	11	and	and	CCONJ
cjfa-34397	56	12	priyan	priyan	ADJ
cjfa-34397	56	13	(	(	PUNCT
cjfa-34397	56	14	2018	2018	NUM
cjfa-34397	56	15	)	)	PUNCT
cjfa-34397	56	16	reveals	reveal	VERB
cjfa-34397	56	17	a	a	DET
cjfa-34397	56	18	significant	significant	ADJ
cjfa-34397	56	19	level	level	NOUN
cjfa-34397	56	20	of	of	ADP
cjfa-34397	56	21	active	active	ADJ
cjfa-34397	56	22	management	management	NOUN
cjfa-34397	56	23	and	and	CCONJ
cjfa-34397	56	24	superiv	superiv	ADJ
cjfa-34397	56	25	.	.	PUNCT
cjfa-34397	57	1	veeravel	veeravel	PROPN
cjfa-34397	57	2	,	,	PUNCT
cjfa-34397	57	3	s.	s.	PROPN
cjfa-34397	57	4	mohanasundaram90	mohanasundaram90	PROPN
cjfa-34397	57	5	or	or	CCONJ
cjfa-34397	57	6	sps	sps	PROPN
cjfa-34397	57	7	.	.	PUNCT
cjfa-34397	58	1	bandi	bandi	PROPN
cjfa-34397	58	2	and	and	CCONJ
cjfa-34397	58	3	gupta	gupta	PROPN
cjfa-34397	58	4	(	(	PUNCT
cjfa-34397	58	5	2019	2019	NUM
cjfa-34397	58	6	)	)	PUNCT
cjfa-34397	58	7	find	find	VERB
cjfa-34397	58	8	that	that	SCONJ
cjfa-34397	58	9	only	only	ADV
cjfa-34397	58	10	three	three	NUM
cjfa-34397	58	11	fund	fund	NOUN
cjfa-34397	58	12	managers	manager	NOUN
cjfa-34397	58	13	display	display	VERB
cjfa-34397	58	14	superior	superior	ADJ
cjfa-34397	58	15	sps	sps	PROPN
cjfa-34397	58	16	,	,	PUNCT
cjfa-34397	58	17	and	and	CCONJ
cjfa-34397	58	18	only	only	ADV
cjfa-34397	58	19	two	two	NUM
cjfa-34397	58	20	funds	fund	NOUN
cjfa-34397	58	21	show	show	VERB
cjfa-34397	58	22	mta	mta	PROPN
cjfa-34397	58	23	during	during	ADP
cjfa-34397	58	24	the	the	DET
cjfa-34397	58	25	study	study	NOUN
cjfa-34397	58	26	period	period	NOUN
cjfa-34397	58	27	.	.	PUNCT
cjfa-34397	59	1	the	the	DET
cjfa-34397	59	2	studies	study	NOUN
cjfa-34397	59	3	on	on	ADP
cjfa-34397	59	4	indian	indian	ADJ
cjfa-34397	59	5	mutual	mutual	ADJ
cjfa-34397	59	6	funds	fund	NOUN
cjfa-34397	59	7	market	market	NOUN
cjfa-34397	59	8	have	have	AUX
cjfa-34397	59	9	focused	focus	VERB
cjfa-34397	59	10	more	more	ADJ
cjfa-34397	59	11	on	on	ADP
cjfa-34397	59	12	the	the	DET
cjfa-34397	59	13	performance	performance	NOUN
cjfa-34397	59	14	of	of	ADP
cjfa-34397	59	15	equity	equity	NOUN
cjfa-34397	59	16	funds	fund	NOUN
cjfa-34397	59	17	,	,	PUNCT
cjfa-34397	59	18	specifically	specifically	ADV
cjfa-34397	59	19	jensen	jensen	PROPN
cjfa-34397	59	20	’s	’s	PART
cjfa-34397	59	21	(	(	PUNCT
cjfa-34397	59	22	1968	1968	NUM
cjfa-34397	59	23	)	)	PUNCT
cjfa-34397	59	24	alpha	alpha	NOUN
cjfa-34397	59	25	.	.	PUNCT
cjfa-34397	60	1	even	even	ADV
cjfa-34397	60	2	though	though	SCONJ
cjfa-34397	60	3	a	a	DET
cjfa-34397	60	4	number	number	NOUN
cjfa-34397	60	5	of	of	ADP
cjfa-34397	60	6	studies	study	NOUN
cjfa-34397	60	7	have	have	AUX
cjfa-34397	60	8	been	be	AUX
cjfa-34397	60	9	conducted	conduct	VERB
cjfa-34397	60	10	on	on	ADP
cjfa-34397	60	11	large	large	ADJ
cjfa-34397	60	12	-	-	PUNCT
cjfa-34397	60	13	cap	cap	NOUN
cjfa-34397	60	14	equity	equity	NOUN
cjfa-34397	60	15	mutual	mutual	ADJ
cjfa-34397	60	16	funds	fund	NOUN
cjfa-34397	60	17	so	so	ADV
cjfa-34397	60	18	far	far	ADV
cjfa-34397	60	19	,	,	PUNCT
cjfa-34397	60	20	there	there	PRON
cjfa-34397	60	21	is	be	VERB
cjfa-34397	60	22	no	no	DET
cjfa-34397	60	23	study	study	NOUN
cjfa-34397	60	24	which	which	PRON
cjfa-34397	60	25	considers	consider	VERB
cjfa-34397	60	26	of	of	ADP
cjfa-34397	60	27	the	the	DET
cjfa-34397	60	28	public	public	ADJ
cjfa-34397	60	29	information	information	NOUN
cjfa-34397	60	30	variables	variable	NOUN
cjfa-34397	60	31	to	to	PART
cjfa-34397	60	32	examine	examine	VERB
cjfa-34397	60	33	the	the	DET
cjfa-34397	60	34	mta	mta	PROPN
cjfa-34397	60	35	and	and	CCONJ
cjfa-34397	60	36	hence	hence	ADV
cjfa-34397	60	37	,	,	PUNCT
cjfa-34397	60	38	this	this	DET
cjfa-34397	60	39	study	study	NOUN
cjfa-34397	60	40	attempts	attempt	VERB
cjfa-34397	60	41	to	to	PART
cjfa-34397	60	42	bridge	bridge	VERB
cjfa-34397	60	43	this	this	DET
cjfa-34397	60	44	gap	gap	NOUN
cjfa-34397	60	45	.	.	PUNCT
cjfa-34397	61	1	data	data	VERB
cjfa-34397	61	2	the	the	DET
cjfa-34397	61	3	scope	scope	NOUN
cjfa-34397	61	4	of	of	ADP
cjfa-34397	61	5	this	this	DET
cjfa-34397	61	6	study	study	NOUN
cjfa-34397	61	7	is	be	AUX
cjfa-34397	61	8	the	the	DET
cjfa-34397	61	9	indian	indian	ADJ
cjfa-34397	61	10	large	large	ADJ
cjfa-34397	61	11	-	-	PUNCT
cjfa-34397	61	12	cap	cap	NOUN
cjfa-34397	61	13	equity	equity	NOUN
cjfa-34397	61	14	mutual	mutual	ADJ
cjfa-34397	61	15	funds	fund	NOUN
cjfa-34397	61	16	that	that	PRON
cjfa-34397	61	17	are	be	AUX
cjfa-34397	61	18	growth	growth	NOUN
cjfa-34397	61	19	-	-	PUNCT
cjfa-34397	61	20	oriented	orient	VERB
cjfa-34397	61	21	.	.	PUNCT
cjfa-34397	62	1	as	as	ADP
cjfa-34397	62	2	of	of	ADP
cjfa-34397	62	3	march	march	NOUN
cjfa-34397	62	4	,	,	PUNCT
cjfa-34397	62	5	2020	2020	NUM
cjfa-34397	62	6	,	,	PUNCT
cjfa-34397	62	7	there	there	PRON
cjfa-34397	62	8	are	be	VERB
cjfa-34397	62	9	206	206	NUM
cjfa-34397	62	10	active	active	ADJ
cjfa-34397	62	11	funds	fund	NOUN
cjfa-34397	62	12	under	under	ADP
cjfa-34397	62	13	this	this	DET
cjfa-34397	62	14	category	category	NOUN
cjfa-34397	62	15	.	.	PUNCT
cjfa-34397	63	1	the	the	DET
cjfa-34397	63	2	funds	fund	NOUN
cjfa-34397	63	3	having	have	VERB
cjfa-34397	63	4	data	datum	NOUN
cjfa-34397	63	5	for	for	ADP
cjfa-34397	63	6	more	more	ADJ
cjfa-34397	63	7	than	than	ADP
cjfa-34397	63	8	36	36	NUM
cjfa-34397	63	9	months	month	NOUN
cjfa-34397	63	10	are	be	AUX
cjfa-34397	63	11	retained	retain	VERB
cjfa-34397	63	12	for	for	ADP
cjfa-34397	63	13	the	the	DET
cjfa-34397	63	14	study	study	NOUN
cjfa-34397	63	15	and	and	CCONJ
cjfa-34397	63	16	35	35	NUM
cjfa-34397	63	17	funds	fund	NOUN
cjfa-34397	63	18	which	which	PRON
cjfa-34397	63	19	are	be	AUX
cjfa-34397	63	20	not	not	PART
cjfa-34397	63	21	meeting	meet	VERB
cjfa-34397	63	22	this	this	DET
cjfa-34397	63	23	criterion	criterion	NOUN
cjfa-34397	63	24	have	have	AUX
cjfa-34397	63	25	been	be	AUX
cjfa-34397	63	26	eliminated	eliminate	VERB
cjfa-34397	63	27	.	.	PUNCT
cjfa-34397	64	1	thus	thus	ADV
cjfa-34397	64	2	,	,	PUNCT
cjfa-34397	64	3	the	the	DET
cjfa-34397	64	4	sample	sample	NOUN
cjfa-34397	64	5	size	size	NOUN
cjfa-34397	64	6	of	of	ADP
cjfa-34397	64	7	this	this	DET
cjfa-34397	64	8	study	study	NOUN
cjfa-34397	64	9	is	be	AUX
cjfa-34397	64	10	171	171	NUM
cjfa-34397	64	11	.	.	PUNCT
cjfa-34397	65	1	this	this	DET
cjfa-34397	65	2	study	study	NOUN
cjfa-34397	65	3	covers	cover	VERB
cjfa-34397	65	4	the	the	DET
cjfa-34397	65	5	period	period	NOUN
cjfa-34397	65	6	from	from	ADP
cjfa-34397	65	7	january	january	PROPN
cjfa-34397	65	8	,	,	PUNCT
cjfa-34397	65	9	2000	2000	NUM
cjfa-34397	65	10	to	to	ADP
cjfa-34397	65	11	december	december	PROPN
cjfa-34397	65	12	,	,	PUNCT
cjfa-34397	65	13	2019	2019	NUM
cjfa-34397	65	14	.	.	PUNCT
cjfa-34397	66	1	the	the	DET
cjfa-34397	66	2	bloomberg	bloomberg	PROPN
cjfa-34397	66	3	database	database	NOUN
cjfa-34397	66	4	has	have	AUX
cjfa-34397	66	5	been	be	AUX
cjfa-34397	66	6	used	use	VERB
cjfa-34397	66	7	to	to	PART
cjfa-34397	66	8	collect	collect	VERB
cjfa-34397	66	9	the	the	DET
cjfa-34397	66	10	data	datum	NOUN
cjfa-34397	66	11	for	for	ADP
cjfa-34397	66	12	the	the	DET
cjfa-34397	66	13	study	study	NOUN
cjfa-34397	66	14	.	.	PUNCT
cjfa-34397	67	1	the	the	DET
cjfa-34397	67	2	net	net	ADJ
cjfa-34397	67	3	assets	asset	NOUN
cjfa-34397	67	4	value	value	NOUN
cjfa-34397	67	5	(	(	PUNCT
cjfa-34397	67	6	nav	nav	NOUN
cjfa-34397	67	7	)	)	PUNCT
cjfa-34397	67	8	has	have	AUX
cjfa-34397	67	9	been	be	AUX
cjfa-34397	67	10	used	use	VERB
cjfa-34397	67	11	to	to	PART
cjfa-34397	67	12	calculate	calculate	VERB
cjfa-34397	67	13	funds	fund	NOUN
cjfa-34397	67	14	’	'	PUNCT
cjfa-34397	67	15	returns	return	NOUN
cjfa-34397	67	16	.	.	PUNCT
cjfa-34397	68	1	the	the	DET
cjfa-34397	68	2	s&p	s&p	PROPN
cjfa-34397	68	3	bse	bse	NOUN
cjfa-34397	68	4	200	200	NUM
cjfa-34397	68	5	index	index	NOUN
cjfa-34397	68	6	has	have	AUX
cjfa-34397	68	7	been	be	AUX
cjfa-34397	68	8	used	use	VERB
cjfa-34397	68	9	as	as	ADP
cjfa-34397	68	10	the	the	DET
cjfa-34397	68	11	market	market	NOUN
cjfa-34397	68	12	proxy	proxy	NOUN
cjfa-34397	68	13	.	.	PUNCT
cjfa-34397	69	1	the	the	DET
cjfa-34397	69	2	91	91	NUM
cjfa-34397	69	3	-	-	PUNCT
cjfa-34397	69	4	days	day	NOUN
cjfa-34397	69	5	treasury	treasury	PROPN
cjfa-34397	69	6	bills	bill	NOUN
cjfa-34397	69	7	return	return	VERB
cjfa-34397	69	8	,	,	PUNCT
cjfa-34397	69	9	collected	collect	VERB
cjfa-34397	69	10	from	from	ADP
cjfa-34397	69	11	the	the	DET
cjfa-34397	69	12	website	website	NOUN
cjfa-34397	69	13	of	of	ADP
cjfa-34397	69	14	rbi1	rbi1	PROPN
cjfa-34397	69	15	,	,	PUNCT
cjfa-34397	69	16	is	be	AUX
cjfa-34397	69	17	used	use	VERB
cjfa-34397	69	18	as	as	ADP
cjfa-34397	69	19	a	a	DET
cjfa-34397	69	20	proxy	proxy	NOUN
cjfa-34397	69	21	for	for	ADP
cjfa-34397	69	22	the	the	DET
cjfa-34397	69	23	risk	risk	NOUN
cjfa-34397	69	24	-	-	PUNCT
cjfa-34397	69	25	free	free	ADJ
cjfa-34397	69	26	assets	asset	NOUN
cjfa-34397	69	27	.	.	PUNCT
cjfa-34397	70	1	public	public	ADJ
cjfa-34397	70	2	information	information	NOUN
cjfa-34397	70	3	variables	variable	VERB
cjfa-34397	70	4	the	the	DET
cjfa-34397	70	5	selected	select	VERB
cjfa-34397	70	6	public	public	ADJ
cjfa-34397	70	7	information	information	NOUN
cjfa-34397	70	8	variables	variable	NOUN
cjfa-34397	70	9	(	(	PUNCT
cjfa-34397	70	10	piv	piv	NOUN
cjfa-34397	70	11	)	)	PUNCT
cjfa-34397	70	12	suggested	suggest	VERB
cjfa-34397	70	13	by	by	ADP
cjfa-34397	70	14	ferson	ferson	NOUN
cjfa-34397	70	15	and	and	CCONJ
cjfa-34397	70	16	schadt	schadt	NOUN
cjfa-34397	70	17	(	(	PUNCT
cjfa-34397	70	18	1996	1996	NUM
cjfa-34397	70	19	)	)	PUNCT
cjfa-34397	70	20	have	have	AUX
cjfa-34397	70	21	been	be	AUX
cjfa-34397	70	22	used	use	VERB
cjfa-34397	70	23	for	for	ADP
cjfa-34397	70	24	controlling	control	VERB
cjfa-34397	70	25	or	or	CCONJ
cjfa-34397	70	26	forecasting	forecast	VERB
cjfa-34397	70	27	the	the	DET
cjfa-34397	70	28	stock	stock	NOUN
cjfa-34397	70	29	returns	return	NOUN
cjfa-34397	70	30	and	and	CCONJ
cjfa-34397	70	31	risk	risk	NOUN
cjfa-34397	70	32	over	over	ADP
cjfa-34397	70	33	a	a	DET
cjfa-34397	70	34	period	period	NOUN
cjfa-34397	70	35	of	of	ADP
cjfa-34397	70	36	time	time	NOUN
cjfa-34397	70	37	.	.	PUNCT
cjfa-34397	71	1	for	for	ADP
cjfa-34397	71	2	conditioning	condition	VERB
cjfa-34397	71	3	the	the	DET
cjfa-34397	71	4	alpha	alpha	NOUN
cjfa-34397	71	5	and	and	CCONJ
cjfa-34397	71	6	beta	beta	ADJ
cjfa-34397	71	7	values	value	NOUN
cjfa-34397	71	8	,	,	PUNCT
cjfa-34397	71	9	the	the	DET
cjfa-34397	71	10	six	six	NUM
cjfa-34397	71	11	important	important	ADJ
cjfa-34397	71	12	macroeconomic	macroeconomic	ADJ
cjfa-34397	71	13	variables	variable	NOUN
cjfa-34397	71	14	namely	namely	ADV
cjfa-34397	71	15	,	,	PUNCT
cjfa-34397	71	16	91	91	NUM
cjfa-34397	71	17	-	-	PUNCT
cjfa-34397	71	18	days	day	NOUN
cjfa-34397	71	19	treasury	treasury	PROPN
cjfa-34397	71	20	bills	bill	NOUN
cjfa-34397	71	21	yield	yield	VERB
cjfa-34397	71	22	(	(	PUNCT
cjfa-34397	71	23	tb	tb	NOUN
cjfa-34397	71	24	)	)	PUNCT
cjfa-34397	71	25	,	,	PUNCT
cjfa-34397	71	26	the	the	DET
cjfa-34397	71	27	dividend	dividend	NOUN
cjfa-34397	71	28	yield	yield	NOUN
cjfa-34397	71	29	on	on	ADP
cjfa-34397	71	30	cnx	cnx	PROPN
cjfa-34397	71	31	500	500	NUM
cjfa-34397	71	32	index	index	NOUN
cjfa-34397	71	33	(	(	PUNCT
cjfa-34397	71	34	dy	dy	NOUN
cjfa-34397	71	35	)	)	PUNCT
cjfa-34397	71	36	,	,	PUNCT
cjfa-34397	71	37	the	the	DET
cjfa-34397	71	38	term	term	NOUN
cjfa-34397	71	39	structure	structure	NOUN
cjfa-34397	71	40	of	of	ADP
cjfa-34397	71	41	interest	interest	NOUN
cjfa-34397	71	42	rates	rate	NOUN
cjfa-34397	71	43	(	(	PUNCT
cjfa-34397	71	44	ts	ts	NOUN
cjfa-34397	71	45	)	)	PUNCT
cjfa-34397	71	46	,	,	PUNCT
cjfa-34397	71	47	the	the	DET
cjfa-34397	71	48	aggregate	aggregate	ADJ
cjfa-34397	71	49	p	p	X
cjfa-34397	71	50	/	/	SYM
cjfa-34397	71	51	e	e	NOUN
cjfa-34397	71	52	ratio	ratio	NOUN
cjfa-34397	71	53	(	(	PUNCT
cjfa-34397	71	54	pe	pe	NOUN
cjfa-34397	71	55	)	)	PUNCT
cjfa-34397	71	56	,	,	PUNCT
cjfa-34397	71	57	yield	yield	NOUN
cjfa-34397	71	58	from	from	ADP
cjfa-34397	71	59	usd	usd	NOUN
cjfa-34397	71	60	exchange	exchange	NOUN
cjfa-34397	71	61	rates	rate	NOUN
cjfa-34397	71	62	changes	change	NOUN
cjfa-34397	71	63	(	(	PUNCT
cjfa-34397	71	64	fx	fx	NOUN
cjfa-34397	71	65	)	)	PUNCT
cjfa-34397	71	66	,	,	PUNCT
cjfa-34397	71	67	and	and	CCONJ
cjfa-34397	71	68	growth	growth	NOUN
cjfa-34397	71	69	rate	rate	NOUN
cjfa-34397	71	70	in	in	ADP
cjfa-34397	71	71	gold	gold	NOUN
cjfa-34397	71	72	prices	price	NOUN
cjfa-34397	71	73	(	(	PUNCT
cjfa-34397	71	74	gp	gp	NOUN
cjfa-34397	71	75	)	)	PUNCT
cjfa-34397	71	76	.	.	PUNCT
cjfa-34397	72	1	bloomberg	bloomberg	PROPN
cjfa-34397	72	2	database	database	NOUN
cjfa-34397	72	3	has	have	AUX
cjfa-34397	72	4	been	be	AUX
cjfa-34397	72	5	used	use	VERB
cjfa-34397	72	6	to	to	PART
cjfa-34397	72	7	collect	collect	VERB
cjfa-34397	72	8	the	the	DET
cjfa-34397	72	9	data	datum	NOUN
cjfa-34397	72	10	for	for	ADP
cjfa-34397	72	11	these	these	DET
cjfa-34397	72	12	variables	variable	NOUN
cjfa-34397	72	13	.	.	PUNCT
cjfa-34397	73	1	1	1	NUM
cjfa-34397	73	2	 	 	SPACE
cjfa-34397	73	3	rbi	rbi	NOUN
cjfa-34397	73	4	(	(	PUNCT
cjfa-34397	73	5	reserve	reserve	PROPN
cjfa-34397	73	6	bank	bank	PROPN
cjfa-34397	73	7	of	of	ADP
cjfa-34397	73	8	india	india	PROPN
cjfa-34397	73	9	):	):	PUNCT
cjfa-34397	73	10	national	national	PROPN
cjfa-34397	73	11	summary	summary	NOUN
cjfa-34397	73	12	data	datum	NOUN
cjfa-34397	73	13	page	page	NOUN
cjfa-34397	73	14	https://www.rbi.org	https://www.rbi.org	PROPN
cjfa-34397	73	15	.	.	PUNCT
cjfa-34397	74	1	in	in	ADP
cjfa-34397	74	2	/	/	SYM
cjfa-34397	74	3	scripts	script	NOUN
cjfa-34397	74	4	/	/	SYM
cjfa-34397	74	5	bs_nsdpdisplay.aspx?param=4	bs_nsdpdisplay.aspx?param=4	NOUN
cjfa-34397	74	6	market	market	NOUN
cjfa-34397	74	7	timing	timing	NOUN
cjfa-34397	74	8	abilities	ability	NOUN
cjfa-34397	74	9	of	of	ADP
cjfa-34397	74	10	large	large	ADJ
cjfa-34397	74	11	-	-	PUNCT
cjfa-34397	74	12	cap	cap	NOUN
cjfa-34397	74	13	equity	equity	NOUN
cjfa-34397	74	14	mutual	mutual	ADJ
cjfa-34397	74	15	fund	fund	NOUN
cjfa-34397	74	16	managers	manager	NOUN
cjfa-34397	74	17	…	…	PUNCT
cjfa-34397	74	18	91	91	NUM
cjfa-34397	74	19	methodology	methodology	NOUN
cjfa-34397	74	20	we	we	PRON
cjfa-34397	74	21	apply	apply	VERB
cjfa-34397	74	22	the	the	DET
cjfa-34397	74	23	unconditional	unconditional	ADJ
cjfa-34397	74	24	tm	tm	PROPN
cjfa-34397	74	25	and	and	CCONJ
cjfa-34397	74	26	hm	hm	PROPN
cjfa-34397	74	27	models	model	NOUN
cjfa-34397	74	28	and	and	CCONJ
cjfa-34397	74	29	the	the	DET
cjfa-34397	74	30	conditional	conditional	ADJ
cjfa-34397	74	31	tm	tm	NOUN
cjfa-34397	74	32	and	and	CCONJ
cjfa-34397	74	33	hm	hm	NOUN
cjfa-34397	74	34	models	model	NOUN
cjfa-34397	74	35	to	to	PART
cjfa-34397	74	36	measure	measure	VERB
cjfa-34397	74	37	the	the	DET
cjfa-34397	74	38	mta	mta	PROPN
cjfa-34397	74	39	of	of	ADP
cjfa-34397	74	40	large	large	ADJ
cjfa-34397	74	41	-	-	PUNCT
cjfa-34397	74	42	cap	cap	NOUN
cjfa-34397	74	43	equity	equity	NOUN
cjfa-34397	74	44	funds	fund	NOUN
cjfa-34397	74	45	.	.	PUNCT
cjfa-34397	75	1	in	in	ADP
cjfa-34397	75	2	order	order	NOUN
cjfa-34397	75	3	to	to	PART
cjfa-34397	75	4	find	find	VERB
cjfa-34397	75	5	significant	significant	ADJ
cjfa-34397	75	6	mta	mta	NOUN
cjfa-34397	75	7	,	,	PUNCT
cjfa-34397	75	8	we	we	PRON
cjfa-34397	75	9	use	use	VERB
cjfa-34397	75	10	monthly	monthly	ADJ
cjfa-34397	75	11	mutual	mutual	ADJ
cjfa-34397	75	12	fund	fund	NOUN
cjfa-34397	75	13	returns	return	NOUN
cjfa-34397	75	14	calculated	calculate	VERB
cjfa-34397	75	15	from	from	ADP
cjfa-34397	75	16	net	net	ADJ
cjfa-34397	75	17	assets	asset	NOUN
cjfa-34397	75	18	values	value	NOUN
cjfa-34397	75	19	of	of	ADP
cjfa-34397	75	20	each	each	DET
cjfa-34397	75	21	fund	fund	NOUN
cjfa-34397	75	22	as	as	SCONJ
cjfa-34397	75	23	we	we	PRON
cjfa-34397	75	24	apply	apply	VERB
cjfa-34397	75	25	the	the	DET
cjfa-34397	75	26	unconditional	unconditional	ADJ
cjfa-34397	75	27	tm	tm	PROPN
cjfa-34397	75	28	and	and	CCONJ
cjfa-34397	75	29	hm	hm	PROPN
cjfa-34397	75	30	models	model	NOUN
cjfa-34397	75	31	and	and	CCONJ
cjfa-34397	75	32	the	the	DET
cjfa-34397	75	33	conditional	conditional	ADJ
cjfa-34397	75	34	tm	tm	NOUN
cjfa-34397	75	35	and	and	CCONJ
cjfa-34397	75	36	hm	hm	NOUN
cjfa-34397	75	37	models	model	NOUN
cjfa-34397	75	38	to	to	PART
cjfa-34397	75	39	measure	measure	VERB
cjfa-34397	75	40	the	the	DET
cjfa-34397	75	41	mta	mta	PROPN
cjfa-34397	75	42	of	of	ADP
cjfa-34397	75	43	large	large	ADJ
cjfa-34397	75	44	-	-	PUNCT
cjfa-34397	75	45	cap	cap	NOUN
cjfa-34397	75	46	equity	equity	NOUN
cjfa-34397	75	47	funds	fund	NOUN
cjfa-34397	75	48	.	.	PUNCT
cjfa-34397	76	1	in	in	ADP
cjfa-34397	76	2	order	order	NOUN
cjfa-34397	76	3	to	to	PART
cjfa-34397	76	4	find	find	VERB
cjfa-34397	76	5	significant	significant	ADJ
cjfa-34397	76	6	mta	mta	NOUN
cjfa-34397	76	7	,	,	PUNCT
cjfa-34397	76	8	we	we	PRON
cjfa-34397	76	9	use	use	VERB
cjfa-34397	76	10	monthly	monthly	ADJ
cjfa-34397	76	11	mutual	mutual	ADJ
cjfa-34397	76	12	fund	fund	NOUN
cjfa-34397	76	13	returns	return	NOUN
cjfa-34397	76	14	calculated	calculate	VERB
cjfa-34397	76	15	from	from	ADP
cjfa-34397	76	16	net	net	ADJ
cjfa-34397	76	17	assets	asset	NOUN
cjfa-34397	76	18	values	value	NOUN
cjfa-34397	76	19	of	of	ADP
cjfa-34397	76	20	each	each	DET
cjfa-34397	76	21	fund	fund	NOUN
cjfa-34397	76	22	as	as	SCONJ
cjfa-34397	76	23	r	r	NOUN
cjfa-34397	76	24	�	�	PROPN
cjfa-34397	76	25	=	=	SYM
cjfa-34397	76	26	nav	nav	PROPN
cjfa-34397	76	27	�	�	PROPN
cjfa-34397	76	28	–	–	PUNCT
cjfa-34397	76	29	nav	nav	PROPN
cjfa-34397	76	30	�	�	PROPN
cjfa-34397	76	31	�	�	PROPN
cjfa-34397	76	32	�	�	PROPN
cjfa-34397	76	33	nav	nav	PROPN
cjfa-34397	76	34	�	�	PROPN
cjfa-34397	76	35	�	�	PROPN
cjfa-34397	76	36	�	�	PROPN
cjfa-34397	76	37	(	(	PUNCT
cjfa-34397	76	38	1	1	NUM
cjfa-34397	76	39	)	)	PUNCT
cjfa-34397	76	40	where	where	SCONJ
cjfa-34397	76	41	,	,	PUNCT
cjfa-34397	76	42	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	76	43	�	�	PROPN
cjfa-34397	76	44	is	be	AUX
cjfa-34397	76	45	the	the	DET
cjfa-34397	76	46	return	return	NOUN
cjfa-34397	76	47	of	of	ADP
cjfa-34397	76	48	the	the	DET
cjfa-34397	76	49	fund	fund	NOUN
cjfa-34397	76	50	at	at	ADP
cjfa-34397	76	51	time	time	NOUN
cjfa-34397	76	52	𝑡𝑡	𝑡𝑡	PROPN
cjfa-34397	76	53	,	,	PUNCT
cjfa-34397	76	54	𝑁𝑁𝑁𝑁𝑁𝑁	𝑁𝑁𝑁𝑁𝑁𝑁	PROPN
cjfa-34397	76	55	�	�	PROPN
cjfa-34397	76	56	is	be	AUX
cjfa-34397	76	57	the	the	DET
cjfa-34397	76	58	net	net	ADJ
cjfa-34397	76	59	assets	asset	NOUN
cjfa-34397	76	60	value	value	NOUN
cjfa-34397	76	61	of	of	ADP
cjfa-34397	76	62	the	the	DET
cjfa-34397	76	63	fund	fund	NOUN
cjfa-34397	76	64	for	for	ADP
cjfa-34397	76	65	at	at	ADP
cjfa-34397	76	66	time	time	NOUN
cjfa-34397	76	67	𝑡𝑡	𝑡𝑡	PROPN
cjfa-34397	76	68	,	,	PUNCT
cjfa-34397	76	69	and	and	CCONJ
cjfa-34397	76	70	𝑁𝑁𝑁𝑁𝑁𝑁	𝑁𝑁𝑁𝑁𝑁𝑁	PROPN
cjfa-34397	76	71	�	�	PROPN
cjfa-34397	76	72	�	�	PROPN
cjfa-34397	76	73	�	�	PROPN
cjfa-34397	76	74	is	be	AUX
cjfa-34397	76	75	the	the	DET
cjfa-34397	76	76	net	net	ADJ
cjfa-34397	76	77	assets	asset	NOUN
cjfa-34397	76	78	value	value	NOUN
cjfa-34397	76	79	at	at	ADP
cjfa-34397	76	80	time	time	NOUN
cjfa-34397	76	81	𝑡𝑡	𝑡𝑡	PROPN
cjfa-34397	76	82	𝑡	𝑡	PROPN
cjfa-34397	76	83	1	1	NUM
cjfa-34397	76	84	.	.	PUNCT
cjfa-34397	77	1	the	the	DET
cjfa-34397	77	2	market	market	NOUN
cjfa-34397	77	3	return	return	NOUN
cjfa-34397	77	4	computed	compute	VERB
cjfa-34397	77	5	as	as	ADP
cjfa-34397	77	6	r	r	PROPN
cjfa-34397	77	7	�	�	PROPN
cjfa-34397	77	8	�	�	NOUN
cjfa-34397	77	9	�	�	PROPN
cjfa-34397	77	10	=	=	SYM
cjfa-34397	78	1	p	p	PROPN
cjfa-34397	78	2	�	�	PROPN
cjfa-34397	78	3	𝑡	𝑡	PROPN
cjfa-34397	78	4	p	p	PROPN
cjfa-34397	78	5	�	�	PROPN
cjfa-34397	78	6	�	�	PROPN
cjfa-34397	78	7	�	�	PROPN
cjfa-34397	78	8	p	p	PROPN
cjfa-34397	78	9	�	�	PROPN
cjfa-34397	78	10	�	�	PROPN
cjfa-34397	78	11	�	�	PROPN
cjfa-34397	78	12	(	(	PUNCT
cjfa-34397	78	13	2	2	NUM
cjfa-34397	78	14	)	)	PUNCT
cjfa-34397	78	15	where	where	SCONJ
cjfa-34397	78	16	,	,	PUNCT
cjfa-34397	78	17	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	78	18	�	�	PROPN
cjfa-34397	78	19	�	�	PROPN
cjfa-34397	78	20	�	�	PROPN
cjfa-34397	78	21	is	be	AUX
cjfa-34397	78	22	the	the	DET
cjfa-34397	78	23	return	return	NOUN
cjfa-34397	78	24	of	of	ADP
cjfa-34397	78	25	the	the	DET
cjfa-34397	78	26	market	market	NOUN
cjfa-34397	78	27	portfolio	portfolio	NOUN
cjfa-34397	78	28	at	at	ADP
cjfa-34397	78	29	time	time	NOUN
cjfa-34397	78	30	𝑡𝑡	𝑡𝑡	PROPN
cjfa-34397	78	31	,	,	PUNCT
cjfa-34397	78	32	𝑃𝑃	𝑃𝑃	PROPN
cjfa-34397	78	33	�	�	PROPN
cjfa-34397	78	34	is	be	AUX
cjfa-34397	78	35	the	the	DET
cjfa-34397	78	36	closing	closing	NOUN
cjfa-34397	78	37	price	price	NOUN
cjfa-34397	78	38	of	of	ADP
cjfa-34397	78	39	market	market	NOUN
cjfa-34397	78	40	portfolio	portfolio	NOUN
cjfa-34397	78	41	at	at	ADP
cjfa-34397	78	42	time	time	NOUN
cjfa-34397	78	43	𝑡𝑡	𝑡𝑡	PROPN
cjfa-34397	78	44	,	,	PUNCT
cjfa-34397	78	45	𝑃𝑃	𝑃𝑃	PROPN
cjfa-34397	78	46	�	�	PROPN
cjfa-34397	78	47	�	�	PROPN
cjfa-34397	78	48	�	�	PROPN
cjfa-34397	78	49	is	be	AUX
cjfa-34397	78	50	the	the	DET
cjfa-34397	78	51	closing	closing	NOUN
cjfa-34397	78	52	price	price	NOUN
cjfa-34397	78	53	of	of	ADP
cjfa-34397	78	54	the	the	DET
cjfa-34397	78	55	index	index	NOUN
cjfa-34397	78	56	at	at	ADP
cjfa-34397	78	57	𝑡𝑡	𝑡𝑡	PROPN
cjfa-34397	78	58	𝑡	𝑡	PROPN
cjfa-34397	78	59	1	1	NUM
cjfa-34397	78	60	.	.	PUNCT
cjfa-34397	79	1	the	the	DET
cjfa-34397	79	2	yield	yield	NOUN
cjfa-34397	79	3	on	on	ADP
cjfa-34397	79	4	91	91	NUM
cjfa-34397	79	5	-	-	PUNCT
cjfa-34397	79	6	day	day	NOUN
cjfa-34397	79	7	t	t	PROPN
cjfa-34397	79	8	-	-	PUNCT
cjfa-34397	79	9	bills	bill	NOUN
cjfa-34397	79	10	return	return	NOUN
cjfa-34397	79	11	is	be	AUX
cjfa-34397	79	12	calculated	calculate	VERB
cjfa-34397	79	13	on	on	ADP
cjfa-34397	79	14	monthly	monthly	ADJ
cjfa-34397	79	15	basis	basis	NOUN
cjfa-34397	79	16	.	.	PUNCT
cjfa-34397	80	1	unconditional	unconditional	ADJ
cjfa-34397	80	2	models	model	NOUN
cjfa-34397	80	3	of	of	ADP
cjfa-34397	80	4	market	market	NOUN
cjfa-34397	80	5	timing	timing	NOUN
cjfa-34397	80	6	ability	ability	NOUN
cjfa-34397	80	7	the	the	DET
cjfa-34397	80	8	literature	literature	NOUN
cjfa-34397	80	9	shows	show	VERB
cjfa-34397	80	10	that	that	SCONJ
cjfa-34397	80	11	there	there	PRON
cjfa-34397	80	12	is	be	VERB
cjfa-34397	80	13	a	a	DET
cjfa-34397	80	14	difference	difference	NOUN
cjfa-34397	80	15	between	between	ADP
cjfa-34397	80	16	the	the	DET
cjfa-34397	80	17	performance	performance	NOUN
cjfa-34397	80	18	of	of	ADP
cjfa-34397	80	19	the	the	DET
cjfa-34397	80	20	funds	fund	NOUN
cjfa-34397	80	21	with	with	ADP
cjfa-34397	80	22	respect	respect	NOUN
cjfa-34397	80	23	to	to	ADP
cjfa-34397	80	24	stock	stock	NOUN
cjfa-34397	80	25	-	-	PUNCT
cjfa-34397	80	26	selection	selection	NOUN
cjfa-34397	80	27	and	and	CCONJ
cjfa-34397	80	28	timing	timing	NOUN
cjfa-34397	80	29	ability	ability	NOUN
cjfa-34397	80	30	.	.	PUNCT
cjfa-34397	81	1	different	different	ADJ
cjfa-34397	81	2	risk	risk	NOUN
cjfa-34397	81	3	models	model	NOUN
cjfa-34397	81	4	are	be	AUX
cjfa-34397	81	5	used	use	VERB
cjfa-34397	81	6	to	to	PART
cjfa-34397	81	7	verify	verify	VERB
cjfa-34397	81	8	whether	whether	SCONJ
cjfa-34397	81	9	sps	sps	PROPN
cjfa-34397	81	10	and	and	CCONJ
cjfa-34397	81	11	mta	mta	PROPN
cjfa-34397	81	12	can	can	AUX
cjfa-34397	81	13	be	be	AUX
cjfa-34397	81	14	predicted	predict	VERB
cjfa-34397	81	15	.	.	PUNCT
cjfa-34397	82	1	it	it	PRON
cjfa-34397	82	2	is	be	AUX
cjfa-34397	82	3	understood	understand	VERB
cjfa-34397	82	4	that	that	SCONJ
cjfa-34397	82	5	the	the	DET
cjfa-34397	82	6	single	single	ADJ
cjfa-34397	82	7	factor	factor	NOUN
cjfa-34397	82	8	model	model	NOUN
cjfa-34397	82	9	measures	measure	VERB
cjfa-34397	82	10	the	the	DET
cjfa-34397	82	11	sps	sps	NOUN
cjfa-34397	82	12	.	.	PUNCT
cjfa-34397	83	1	however	however	ADV
cjfa-34397	83	2	,	,	PUNCT
cjfa-34397	83	3	the	the	DET
cjfa-34397	83	4	change	change	NOUN
cjfa-34397	83	5	in	in	ADP
cjfa-34397	83	6	strategies	strategy	NOUN
cjfa-34397	83	7	by	by	ADP
cjfa-34397	83	8	the	the	DET
cjfa-34397	83	9	managers	manager	NOUN
cjfa-34397	83	10	in	in	ADP
cjfa-34397	83	11	the	the	DET
cjfa-34397	83	12	portfolio	portfolio	NOUN
cjfa-34397	83	13	construction	construction	NOUN
cjfa-34397	83	14	is	be	AUX
cjfa-34397	83	15	not	not	PART
cjfa-34397	83	16	accounted	account	VERB
cjfa-34397	83	17	.	.	PUNCT
cjfa-34397	84	1	a	a	DET
cjfa-34397	84	2	quadratic	quadratic	ADJ
cjfa-34397	84	3	term	term	NOUN
cjfa-34397	84	4	has	have	AUX
cjfa-34397	84	5	been	be	AUX
cjfa-34397	84	6	added	add	VERB
cjfa-34397	84	7	to	to	ADP
cjfa-34397	84	8	the	the	DET
cjfa-34397	84	9	single	single	ADJ
cjfa-34397	84	10	factor	factor	NOUN
cjfa-34397	84	11	model	model	NOUN
cjfa-34397	84	12	to	to	PART
cjfa-34397	84	13	capture	capture	VERB
cjfa-34397	84	14	the	the	DET
cjfa-34397	84	15	convexity	convexity	NOUN
cjfa-34397	84	16	of	of	ADP
cjfa-34397	84	17	the	the	DET
cjfa-34397	84	18	fund	fund	NOUN
cjfa-34397	84	19	returns	return	NOUN
cjfa-34397	84	20	and	and	CCONJ
cjfa-34397	84	21	market	market	NOUN
cjfa-34397	84	22	returns	return	NOUN
cjfa-34397	84	23	.	.	PUNCT
cjfa-34397	85	1	the	the	DET
cjfa-34397	85	2	tm	tm	PROPN
cjfa-34397	85	3	model	model	NOUN
cjfa-34397	85	4	is	be	AUX
cjfa-34397	85	5	represented	represent	VERB
cjfa-34397	85	6	as	as	ADP
cjfa-34397	85	7	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	85	8	�	�	PROPN
cjfa-34397	85	9	𝑡	𝑡	PROPN
cjfa-34397	85	10	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	85	11	�	�	PROPN
cjfa-34397	85	12	=	=	PUNCT
cjfa-34397	85	13	 	 	SPACE
cjfa-34397	85	14	α	α	PROPN
cjfa-34397	85	15	+	+	NOUN
cjfa-34397	85	16	 	 	SPACE
cjfa-34397	85	17	β	β	NOUN
cjfa-34397	85	18	 	 	SPACE
cjfa-34397	85	19	�	�	PROPN
cjfa-34397	85	20	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	85	21	�	�	PROPN
cjfa-34397	85	22	𝑡	𝑡	PROPN
cjfa-34397	85	23	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	85	24	�	�	PROPN
cjfa-34397	85	25	�	�	PROPN
cjfa-34397	86	1	+	+	CCONJ
cjfa-34397	86	2	 	 	SPACE
cjfa-34397	86	3	γ	γ	PROPN
cjfa-34397	86	4	 	 	SPACE
cjfa-34397	86	5	�	�	PROPN
cjfa-34397	86	6	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	86	7	�	�	PROPN
cjfa-34397	86	8	𝑡	𝑡	PROPN
cjfa-34397	86	9	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	86	10	�	�	PROPN
cjfa-34397	86	11	�	�	PROPN
cjfa-34397	86	12	�	�	PROPN
cjfa-34397	86	13	+	+	CCONJ
cjfa-34397	86	14	ε	ε	PROPN
cjfa-34397	86	15	�	�	PROPN
cjfa-34397	86	16	  	  	SPACE
cjfa-34397	86	17	(	(	PUNCT
cjfa-34397	86	18	3	3	NUM
cjfa-34397	86	19	)	)	PUNCT
cjfa-34397	86	20	where	where	SCONJ
cjfa-34397	86	21	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	86	22	�	�	PROPN
cjfa-34397	86	23	is	be	AUX
cjfa-34397	86	24	the	the	DET
cjfa-34397	86	25	return	return	NOUN
cjfa-34397	86	26	of	of	ADP
cjfa-34397	86	27	fund	fund	NOUN
cjfa-34397	86	28	𝑝𝑝	𝑝𝑝	NOUN
cjfa-34397	86	29	;	;	PUNCT
cjfa-34397	86	30	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	86	31	�	�	PROPN
cjfa-34397	86	32	is	be	AUX
cjfa-34397	86	33	the	the	DET
cjfa-34397	86	34	return	return	NOUN
cjfa-34397	86	35	on	on	ADP
cjfa-34397	86	36	the	the	DET
cjfa-34397	86	37	market	market	NOUN
cjfa-34397	86	38	index	index	NOUN
cjfa-34397	86	39	;	;	PUNCT
cjfa-34397	86	40	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	86	41	�	�	PROPN
cjfa-34397	86	42	is	be	AUX
cjfa-34397	86	43	the	the	DET
cjfa-34397	86	44	risk	risk	NOUN
cjfa-34397	86	45	-	-	PUNCT
cjfa-34397	86	46	free	free	ADJ
cjfa-34397	86	47	rate	rate	NOUN
cjfa-34397	86	48	;	;	PUNCT
cjfa-34397	86	49	𝛼𝛼	𝛼𝛼	ADP
cjfa-34397	86	50	jensen	jensen	PROPN
cjfa-34397	86	51	’s	’s	PART
cjfa-34397	86	52	alpha	alpha	NOUN
cjfa-34397	86	53	;	;	PUNCT
cjfa-34397	86	54	𝛽𝛽	𝛽𝛽	VERB
cjfa-34397	86	55	is	be	AUX
cjfa-34397	86	56	systematic	systematic	ADJ
cjfa-34397	86	57	risk	risk	NOUN
cjfa-34397	86	58	of	of	ADP
cjfa-34397	86	59	fund	fund	NOUN
cjfa-34397	86	60	𝑝𝑝	𝑝𝑝	NOUN
cjfa-34397	86	61	;	;	PUNCT
cjfa-34397	86	62	𝜀𝜀	𝜀𝜀	PRON
cjfa-34397	86	63	�	�	PROPN
cjfa-34397	86	64	is	be	AUX
cjfa-34397	86	65	the	the	DET
cjfa-34397	86	66	error	error	NOUN
cjfa-34397	86	67	term	term	NOUN
cjfa-34397	86	68	;	;	PUNCT
cjfa-34397	86	69	𝛾𝛾	𝛾𝛾	ADV
cjfa-34397	86	70	is	be	AUX
cjfa-34397	86	71	estimate	estimate	NOUN
cjfa-34397	86	72	of	of	ADP
cjfa-34397	86	73	the	the	DET
cjfa-34397	86	74	timing	timing	NOUN
cjfa-34397	86	75	ability	ability	NOUN
cjfa-34397	86	76	of	of	ADP
cjfa-34397	86	77	the	the	DET
cjfa-34397	86	78	fund	fund	NOUN
cjfa-34397	86	79	𝑝𝑝.	𝑝𝑝.	PROPN
cjfa-34397	86	80	if	if	SCONJ
cjfa-34397	86	81	significant	significant	ADJ
cjfa-34397	86	82	positive	positive	ADJ
cjfa-34397	86	83	𝛾𝛾	𝛾𝛾	NOUN
cjfa-34397	86	84	,	,	PUNCT
cjfa-34397	86	85	denotes	denote	VERB
cjfa-34397	86	86	the	the	DET
cjfa-34397	86	87	result	result	NOUN
cjfa-34397	86	88	of	of	ADP
cjfa-34397	86	89	convex	convex	NOUN
cjfa-34397	86	90	to	to	ADP
cjfa-34397	86	91	the	the	DET
cjfa-34397	86	92	portfolio	portfolio	NOUN
cjfa-34397	86	93	with	with	ADP
cjfa-34397	86	94	respect	respect	NOUN
cjfa-34397	86	95	to	to	ADP
cjfa-34397	86	96	the	the	DET
cjfa-34397	86	97	market	market	NOUN
cjfa-34397	86	98	and	and	CCONJ
cjfa-34397	86	99	the	the	DET
cjfa-34397	86	100	fund	fund	NOUN
cjfa-34397	86	101	is	be	AUX
cjfa-34397	86	102	considered	consider	VERB
cjfa-34397	86	103	to	to	PART
cjfa-34397	86	104	possess	possess	VERB
cjfa-34397	86	105	the	the	DET
cjfa-34397	86	106	mta	mta	PROPN
cjfa-34397	86	107	.	.	PUNCT
cjfa-34397	87	1	(	(	PUNCT
cjfa-34397	87	2	1	1	NUM
cjfa-34397	87	3	)	)	PUNCT
cjfa-34397	87	4	where	where	SCONJ
cjfa-34397	87	5	,	,	PUNCT
cjfa-34397	87	6	rt	rt	PROPN
cjfa-34397	87	7	is	be	AUX
cjfa-34397	87	8	the	the	DET
cjfa-34397	87	9	return	return	NOUN
cjfa-34397	87	10	of	of	ADP
cjfa-34397	87	11	the	the	DET
cjfa-34397	87	12	fund	fund	NOUN
cjfa-34397	87	13	at	at	ADP
cjfa-34397	87	14	time	time	NOUN
cjfa-34397	87	15	t	t	PROPN
cjfa-34397	87	16	,	,	PUNCT
cjfa-34397	87	17	navt	navt	PROPN
cjfa-34397	87	18	is	be	AUX
cjfa-34397	87	19	the	the	DET
cjfa-34397	87	20	net	net	ADJ
cjfa-34397	87	21	assets	asset	NOUN
cjfa-34397	87	22	value	value	NOUN
cjfa-34397	87	23	of	of	ADP
cjfa-34397	87	24	the	the	DET
cjfa-34397	87	25	fund	fund	NOUN
cjfa-34397	87	26	for	for	ADP
cjfa-34397	87	27	at	at	ADP
cjfa-34397	87	28	time	time	NOUN
cjfa-34397	87	29	t	t	PROPN
cjfa-34397	87	30	,	,	PUNCT
cjfa-34397	87	31	and	and	CCONJ
cjfa-34397	87	32	navt–1	navt–1	PROPN
cjfa-34397	87	33	is	be	AUX
cjfa-34397	87	34	the	the	DET
cjfa-34397	87	35	net	net	ADJ
cjfa-34397	87	36	assets	asset	NOUN
cjfa-34397	87	37	value	value	NOUN
cjfa-34397	87	38	at	at	ADP
cjfa-34397	87	39	time	time	NOUN
cjfa-34397	87	40	t	t	PROPN
cjfa-34397	87	41	–	–	PUNCT
cjfa-34397	87	42	1	1	X
cjfa-34397	87	43	.	.	PUNCT
cjfa-34397	88	1	the	the	DET
cjfa-34397	88	2	market	market	NOUN
cjfa-34397	88	3	return	return	NOUN
cjfa-34397	88	4	computed	compute	VERB
cjfa-34397	88	5	as	as	SCONJ
cjfa-34397	88	6	we	we	PRON
cjfa-34397	88	7	apply	apply	VERB
cjfa-34397	88	8	the	the	DET
cjfa-34397	88	9	unconditional	unconditional	ADJ
cjfa-34397	88	10	tm	tm	PROPN
cjfa-34397	88	11	and	and	CCONJ
cjfa-34397	88	12	hm	hm	PROPN
cjfa-34397	88	13	models	model	NOUN
cjfa-34397	88	14	and	and	CCONJ
cjfa-34397	88	15	the	the	DET
cjfa-34397	88	16	conditional	conditional	ADJ
cjfa-34397	88	17	tm	tm	NOUN
cjfa-34397	88	18	and	and	CCONJ
cjfa-34397	88	19	hm	hm	NOUN
cjfa-34397	88	20	models	model	NOUN
cjfa-34397	88	21	to	to	PART
cjfa-34397	88	22	measure	measure	VERB
cjfa-34397	88	23	the	the	DET
cjfa-34397	88	24	mta	mta	PROPN
cjfa-34397	88	25	of	of	ADP
cjfa-34397	88	26	large	large	ADJ
cjfa-34397	88	27	-	-	PUNCT
cjfa-34397	88	28	cap	cap	NOUN
cjfa-34397	88	29	equity	equity	NOUN
cjfa-34397	88	30	funds	fund	NOUN
cjfa-34397	88	31	.	.	PUNCT
cjfa-34397	89	1	in	in	ADP
cjfa-34397	89	2	order	order	NOUN
cjfa-34397	89	3	to	to	PART
cjfa-34397	89	4	find	find	VERB
cjfa-34397	89	5	significant	significant	ADJ
cjfa-34397	89	6	mta	mta	NOUN
cjfa-34397	89	7	,	,	PUNCT
cjfa-34397	89	8	we	we	PRON
cjfa-34397	89	9	use	use	VERB
cjfa-34397	89	10	monthly	monthly	ADJ
cjfa-34397	89	11	mutual	mutual	ADJ
cjfa-34397	89	12	fund	fund	NOUN
cjfa-34397	89	13	returns	return	NOUN
cjfa-34397	89	14	calculated	calculate	VERB
cjfa-34397	89	15	from	from	ADP
cjfa-34397	89	16	net	net	ADJ
cjfa-34397	89	17	assets	asset	NOUN
cjfa-34397	89	18	values	value	NOUN
cjfa-34397	89	19	of	of	ADP
cjfa-34397	89	20	each	each	DET
cjfa-34397	89	21	fund	fund	NOUN
cjfa-34397	89	22	as	as	SCONJ
cjfa-34397	89	23	r	r	NOUN
cjfa-34397	89	24	�	�	PROPN
cjfa-34397	89	25	=	=	SYM
cjfa-34397	89	26	nav	nav	PROPN
cjfa-34397	89	27	�	�	PROPN
cjfa-34397	89	28	–	–	PUNCT
cjfa-34397	89	29	nav	nav	PROPN
cjfa-34397	89	30	�	�	PROPN
cjfa-34397	89	31	�	�	PROPN
cjfa-34397	89	32	�	�	PROPN
cjfa-34397	89	33	nav	nav	PROPN
cjfa-34397	89	34	�	�	PROPN
cjfa-34397	89	35	�	�	PROPN
cjfa-34397	89	36	�	�	PROPN
cjfa-34397	89	37	(	(	PUNCT
cjfa-34397	89	38	1	1	NUM
cjfa-34397	89	39	)	)	PUNCT
cjfa-34397	89	40	where	where	SCONJ
cjfa-34397	89	41	,	,	PUNCT
cjfa-34397	89	42	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	89	43	�	�	PROPN
cjfa-34397	89	44	is	be	AUX
cjfa-34397	89	45	the	the	DET
cjfa-34397	89	46	return	return	NOUN
cjfa-34397	89	47	of	of	ADP
cjfa-34397	89	48	the	the	DET
cjfa-34397	89	49	fund	fund	NOUN
cjfa-34397	89	50	at	at	ADP
cjfa-34397	89	51	time	time	NOUN
cjfa-34397	89	52	𝑡𝑡	𝑡𝑡	PROPN
cjfa-34397	89	53	,	,	PUNCT
cjfa-34397	89	54	𝑁𝑁𝑁𝑁𝑁𝑁	𝑁𝑁𝑁𝑁𝑁𝑁	PROPN
cjfa-34397	89	55	�	�	PROPN
cjfa-34397	89	56	is	be	AUX
cjfa-34397	89	57	the	the	DET
cjfa-34397	89	58	net	net	ADJ
cjfa-34397	89	59	assets	asset	NOUN
cjfa-34397	89	60	value	value	NOUN
cjfa-34397	89	61	of	of	ADP
cjfa-34397	89	62	the	the	DET
cjfa-34397	89	63	fund	fund	NOUN
cjfa-34397	89	64	for	for	ADP
cjfa-34397	89	65	at	at	ADP
cjfa-34397	89	66	time	time	NOUN
cjfa-34397	89	67	𝑡𝑡	𝑡𝑡	PROPN
cjfa-34397	89	68	,	,	PUNCT
cjfa-34397	89	69	and	and	CCONJ
cjfa-34397	89	70	𝑁𝑁𝑁𝑁𝑁𝑁	𝑁𝑁𝑁𝑁𝑁𝑁	PROPN
cjfa-34397	89	71	�	�	PROPN
cjfa-34397	89	72	�	�	PROPN
cjfa-34397	89	73	�	�	PROPN
cjfa-34397	89	74	is	be	AUX
cjfa-34397	89	75	the	the	DET
cjfa-34397	89	76	net	net	ADJ
cjfa-34397	89	77	assets	asset	NOUN
cjfa-34397	89	78	value	value	NOUN
cjfa-34397	89	79	at	at	ADP
cjfa-34397	89	80	time	time	NOUN
cjfa-34397	89	81	𝑡𝑡	𝑡𝑡	PROPN
cjfa-34397	89	82	𝑡	𝑡	PROPN
cjfa-34397	89	83	1	1	NUM
cjfa-34397	89	84	.	.	PUNCT
cjfa-34397	90	1	the	the	DET
cjfa-34397	90	2	market	market	NOUN
cjfa-34397	90	3	return	return	NOUN
cjfa-34397	90	4	computed	compute	VERB
cjfa-34397	90	5	as	as	ADP
cjfa-34397	90	6	r	r	PROPN
cjfa-34397	90	7	�	�	PROPN
cjfa-34397	90	8	�	�	NOUN
cjfa-34397	90	9	�	�	PROPN
cjfa-34397	90	10	=	=	SYM
cjfa-34397	91	1	p	p	PROPN
cjfa-34397	91	2	�	�	PROPN
cjfa-34397	91	3	𝑡	𝑡	PROPN
cjfa-34397	91	4	p	p	PROPN
cjfa-34397	91	5	�	�	PROPN
cjfa-34397	91	6	�	�	PROPN
cjfa-34397	91	7	�	�	PROPN
cjfa-34397	91	8	p	p	PROPN
cjfa-34397	91	9	�	�	PROPN
cjfa-34397	91	10	�	�	PROPN
cjfa-34397	91	11	�	�	PROPN
cjfa-34397	91	12	(	(	PUNCT
cjfa-34397	91	13	2	2	NUM
cjfa-34397	91	14	)	)	PUNCT
cjfa-34397	91	15	where	where	SCONJ
cjfa-34397	91	16	,	,	PUNCT
cjfa-34397	91	17	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	91	18	�	�	PROPN
cjfa-34397	91	19	�	�	PROPN
cjfa-34397	91	20	�	�	PROPN
cjfa-34397	91	21	is	be	AUX
cjfa-34397	91	22	the	the	DET
cjfa-34397	91	23	return	return	NOUN
cjfa-34397	91	24	of	of	ADP
cjfa-34397	91	25	the	the	DET
cjfa-34397	91	26	market	market	NOUN
cjfa-34397	91	27	portfolio	portfolio	NOUN
cjfa-34397	91	28	at	at	ADP
cjfa-34397	91	29	time	time	NOUN
cjfa-34397	91	30	𝑡𝑡	𝑡𝑡	PROPN
cjfa-34397	91	31	,	,	PUNCT
cjfa-34397	91	32	𝑃𝑃	𝑃𝑃	PROPN
cjfa-34397	91	33	�	�	PROPN
cjfa-34397	91	34	is	be	AUX
cjfa-34397	91	35	the	the	DET
cjfa-34397	91	36	closing	closing	NOUN
cjfa-34397	91	37	price	price	NOUN
cjfa-34397	91	38	of	of	ADP
cjfa-34397	91	39	market	market	NOUN
cjfa-34397	91	40	portfolio	portfolio	NOUN
cjfa-34397	91	41	at	at	ADP
cjfa-34397	91	42	time	time	NOUN
cjfa-34397	91	43	𝑡𝑡	𝑡𝑡	PROPN
cjfa-34397	91	44	,	,	PUNCT
cjfa-34397	91	45	𝑃𝑃	𝑃𝑃	PROPN
cjfa-34397	91	46	�	�	PROPN
cjfa-34397	91	47	�	�	PROPN
cjfa-34397	91	48	�	�	PROPN
cjfa-34397	91	49	is	be	AUX
cjfa-34397	91	50	the	the	DET
cjfa-34397	91	51	closing	closing	NOUN
cjfa-34397	91	52	price	price	NOUN
cjfa-34397	91	53	of	of	ADP
cjfa-34397	91	54	the	the	DET
cjfa-34397	91	55	index	index	NOUN
cjfa-34397	91	56	at	at	ADP
cjfa-34397	91	57	𝑡𝑡	𝑡𝑡	PROPN
cjfa-34397	91	58	𝑡	𝑡	PROPN
cjfa-34397	91	59	1	1	NUM
cjfa-34397	91	60	.	.	PUNCT
cjfa-34397	92	1	the	the	DET
cjfa-34397	92	2	yield	yield	NOUN
cjfa-34397	92	3	on	on	ADP
cjfa-34397	92	4	91	91	NUM
cjfa-34397	92	5	-	-	PUNCT
cjfa-34397	92	6	day	day	NOUN
cjfa-34397	92	7	t	t	PROPN
cjfa-34397	92	8	-	-	PUNCT
cjfa-34397	92	9	bills	bill	NOUN
cjfa-34397	92	10	return	return	NOUN
cjfa-34397	92	11	is	be	AUX
cjfa-34397	92	12	calculated	calculate	VERB
cjfa-34397	92	13	on	on	ADP
cjfa-34397	92	14	monthly	monthly	ADJ
cjfa-34397	92	15	basis	basis	NOUN
cjfa-34397	92	16	.	.	PUNCT
cjfa-34397	93	1	unconditional	unconditional	ADJ
cjfa-34397	93	2	models	model	NOUN
cjfa-34397	93	3	of	of	ADP
cjfa-34397	93	4	market	market	NOUN
cjfa-34397	93	5	timing	timing	NOUN
cjfa-34397	93	6	ability	ability	NOUN
cjfa-34397	93	7	the	the	DET
cjfa-34397	93	8	literature	literature	NOUN
cjfa-34397	93	9	shows	show	VERB
cjfa-34397	93	10	that	that	SCONJ
cjfa-34397	93	11	there	there	PRON
cjfa-34397	93	12	is	be	VERB
cjfa-34397	93	13	a	a	DET
cjfa-34397	93	14	difference	difference	NOUN
cjfa-34397	93	15	between	between	ADP
cjfa-34397	93	16	the	the	DET
cjfa-34397	93	17	performance	performance	NOUN
cjfa-34397	93	18	of	of	ADP
cjfa-34397	93	19	the	the	DET
cjfa-34397	93	20	funds	fund	NOUN
cjfa-34397	93	21	with	with	ADP
cjfa-34397	93	22	respect	respect	NOUN
cjfa-34397	93	23	to	to	ADP
cjfa-34397	93	24	stock	stock	NOUN
cjfa-34397	93	25	-	-	PUNCT
cjfa-34397	93	26	selection	selection	NOUN
cjfa-34397	93	27	and	and	CCONJ
cjfa-34397	93	28	timing	timing	NOUN
cjfa-34397	93	29	ability	ability	NOUN
cjfa-34397	93	30	.	.	PUNCT
cjfa-34397	94	1	different	different	ADJ
cjfa-34397	94	2	risk	risk	NOUN
cjfa-34397	94	3	models	model	NOUN
cjfa-34397	94	4	are	be	AUX
cjfa-34397	94	5	used	use	VERB
cjfa-34397	94	6	to	to	PART
cjfa-34397	94	7	verify	verify	VERB
cjfa-34397	94	8	whether	whether	SCONJ
cjfa-34397	94	9	sps	sps	PROPN
cjfa-34397	94	10	and	and	CCONJ
cjfa-34397	94	11	mta	mta	PROPN
cjfa-34397	94	12	can	can	AUX
cjfa-34397	94	13	be	be	AUX
cjfa-34397	94	14	predicted	predict	VERB
cjfa-34397	94	15	.	.	PUNCT
cjfa-34397	95	1	it	it	PRON
cjfa-34397	95	2	is	be	AUX
cjfa-34397	95	3	understood	understand	VERB
cjfa-34397	95	4	that	that	SCONJ
cjfa-34397	95	5	the	the	DET
cjfa-34397	95	6	single	single	ADJ
cjfa-34397	95	7	factor	factor	NOUN
cjfa-34397	95	8	model	model	NOUN
cjfa-34397	95	9	measures	measure	VERB
cjfa-34397	95	10	the	the	DET
cjfa-34397	95	11	sps	sps	NOUN
cjfa-34397	95	12	.	.	PUNCT
cjfa-34397	96	1	however	however	ADV
cjfa-34397	96	2	,	,	PUNCT
cjfa-34397	96	3	the	the	DET
cjfa-34397	96	4	change	change	NOUN
cjfa-34397	96	5	in	in	ADP
cjfa-34397	96	6	strategies	strategy	NOUN
cjfa-34397	96	7	by	by	ADP
cjfa-34397	96	8	the	the	DET
cjfa-34397	96	9	managers	manager	NOUN
cjfa-34397	96	10	in	in	ADP
cjfa-34397	96	11	the	the	DET
cjfa-34397	96	12	portfolio	portfolio	NOUN
cjfa-34397	96	13	construction	construction	NOUN
cjfa-34397	96	14	is	be	AUX
cjfa-34397	96	15	not	not	PART
cjfa-34397	96	16	accounted	account	VERB
cjfa-34397	96	17	.	.	PUNCT
cjfa-34397	97	1	a	a	DET
cjfa-34397	97	2	quadratic	quadratic	ADJ
cjfa-34397	97	3	term	term	NOUN
cjfa-34397	97	4	has	have	AUX
cjfa-34397	97	5	been	be	AUX
cjfa-34397	97	6	added	add	VERB
cjfa-34397	97	7	to	to	ADP
cjfa-34397	97	8	the	the	DET
cjfa-34397	97	9	single	single	ADJ
cjfa-34397	97	10	factor	factor	NOUN
cjfa-34397	97	11	model	model	NOUN
cjfa-34397	97	12	to	to	PART
cjfa-34397	97	13	capture	capture	VERB
cjfa-34397	97	14	the	the	DET
cjfa-34397	97	15	convexity	convexity	NOUN
cjfa-34397	97	16	of	of	ADP
cjfa-34397	97	17	the	the	DET
cjfa-34397	97	18	fund	fund	NOUN
cjfa-34397	97	19	returns	return	NOUN
cjfa-34397	97	20	and	and	CCONJ
cjfa-34397	97	21	market	market	NOUN
cjfa-34397	97	22	returns	return	NOUN
cjfa-34397	97	23	.	.	PUNCT
cjfa-34397	98	1	the	the	DET
cjfa-34397	98	2	tm	tm	PROPN
cjfa-34397	98	3	model	model	NOUN
cjfa-34397	98	4	is	be	AUX
cjfa-34397	98	5	represented	represent	VERB
cjfa-34397	98	6	as	as	ADP
cjfa-34397	98	7	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	98	8	�	�	PROPN
cjfa-34397	98	9	𝑡	𝑡	PROPN
cjfa-34397	98	10	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	98	11	�	�	PROPN
cjfa-34397	98	12	=	=	PUNCT
cjfa-34397	98	13	 	 	SPACE
cjfa-34397	98	14	α	α	PROPN
cjfa-34397	98	15	+	+	NOUN
cjfa-34397	98	16	 	 	SPACE
cjfa-34397	98	17	β	β	NOUN
cjfa-34397	98	18	 	 	SPACE
cjfa-34397	98	19	�	�	PROPN
cjfa-34397	98	20	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	98	21	�	�	PROPN
cjfa-34397	98	22	𝑡	𝑡	PROPN
cjfa-34397	98	23	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	98	24	�	�	PROPN
cjfa-34397	98	25	�	�	PROPN
cjfa-34397	99	1	+	+	CCONJ
cjfa-34397	99	2	 	 	SPACE
cjfa-34397	99	3	γ	γ	PROPN
cjfa-34397	99	4	 	 	SPACE
cjfa-34397	99	5	�	�	PROPN
cjfa-34397	99	6	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	99	7	�	�	PROPN
cjfa-34397	99	8	𝑡	𝑡	PROPN
cjfa-34397	99	9	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	99	10	�	�	PROPN
cjfa-34397	99	11	�	�	PROPN
cjfa-34397	99	12	�	�	PROPN
cjfa-34397	99	13	+	+	CCONJ
cjfa-34397	99	14	ε	ε	PROPN
cjfa-34397	99	15	�	�	PROPN
cjfa-34397	99	16	  	  	SPACE
cjfa-34397	99	17	(	(	PUNCT
cjfa-34397	99	18	3	3	NUM
cjfa-34397	99	19	)	)	PUNCT
cjfa-34397	99	20	where	where	SCONJ
cjfa-34397	99	21	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	99	22	�	�	PROPN
cjfa-34397	99	23	is	be	AUX
cjfa-34397	99	24	the	the	DET
cjfa-34397	99	25	return	return	NOUN
cjfa-34397	99	26	of	of	ADP
cjfa-34397	99	27	fund	fund	NOUN
cjfa-34397	99	28	𝑝𝑝	𝑝𝑝	NOUN
cjfa-34397	99	29	;	;	PUNCT
cjfa-34397	99	30	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	99	31	�	�	PROPN
cjfa-34397	99	32	is	be	AUX
cjfa-34397	99	33	the	the	DET
cjfa-34397	99	34	return	return	NOUN
cjfa-34397	99	35	on	on	ADP
cjfa-34397	99	36	the	the	DET
cjfa-34397	99	37	market	market	NOUN
cjfa-34397	99	38	index	index	NOUN
cjfa-34397	99	39	;	;	PUNCT
cjfa-34397	99	40	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	99	41	�	�	PROPN
cjfa-34397	99	42	is	be	AUX
cjfa-34397	99	43	the	the	DET
cjfa-34397	99	44	risk	risk	NOUN
cjfa-34397	99	45	-	-	PUNCT
cjfa-34397	99	46	free	free	ADJ
cjfa-34397	99	47	rate	rate	NOUN
cjfa-34397	99	48	;	;	PUNCT
cjfa-34397	99	49	𝛼𝛼	𝛼𝛼	ADP
cjfa-34397	99	50	jensen	jensen	PROPN
cjfa-34397	99	51	’s	’s	PART
cjfa-34397	99	52	alpha	alpha	NOUN
cjfa-34397	99	53	;	;	PUNCT
cjfa-34397	99	54	𝛽𝛽	𝛽𝛽	VERB
cjfa-34397	99	55	is	be	AUX
cjfa-34397	99	56	systematic	systematic	ADJ
cjfa-34397	99	57	risk	risk	NOUN
cjfa-34397	99	58	of	of	ADP
cjfa-34397	99	59	fund	fund	NOUN
cjfa-34397	99	60	𝑝𝑝	𝑝𝑝	NOUN
cjfa-34397	99	61	;	;	PUNCT
cjfa-34397	99	62	𝜀𝜀	𝜀𝜀	PRON
cjfa-34397	99	63	�	�	PROPN
cjfa-34397	99	64	is	be	AUX
cjfa-34397	99	65	the	the	DET
cjfa-34397	99	66	error	error	NOUN
cjfa-34397	99	67	term	term	NOUN
cjfa-34397	99	68	;	;	PUNCT
cjfa-34397	99	69	𝛾𝛾	𝛾𝛾	ADV
cjfa-34397	99	70	is	be	AUX
cjfa-34397	99	71	estimate	estimate	NOUN
cjfa-34397	99	72	of	of	ADP
cjfa-34397	99	73	the	the	DET
cjfa-34397	99	74	timing	timing	NOUN
cjfa-34397	99	75	ability	ability	NOUN
cjfa-34397	99	76	of	of	ADP
cjfa-34397	99	77	the	the	DET
cjfa-34397	99	78	fund	fund	NOUN
cjfa-34397	99	79	𝑝𝑝.	𝑝𝑝.	PROPN
cjfa-34397	99	80	if	if	SCONJ
cjfa-34397	99	81	significant	significant	ADJ
cjfa-34397	99	82	positive	positive	ADJ
cjfa-34397	99	83	𝛾𝛾	𝛾𝛾	NOUN
cjfa-34397	99	84	,	,	PUNCT
cjfa-34397	99	85	denotes	denote	VERB
cjfa-34397	99	86	the	the	DET
cjfa-34397	99	87	result	result	NOUN
cjfa-34397	99	88	of	of	ADP
cjfa-34397	99	89	convex	convex	NOUN
cjfa-34397	99	90	to	to	ADP
cjfa-34397	99	91	the	the	DET
cjfa-34397	99	92	portfolio	portfolio	NOUN
cjfa-34397	99	93	with	with	ADP
cjfa-34397	99	94	respect	respect	NOUN
cjfa-34397	99	95	to	to	ADP
cjfa-34397	99	96	the	the	DET
cjfa-34397	99	97	market	market	NOUN
cjfa-34397	99	98	and	and	CCONJ
cjfa-34397	99	99	the	the	DET
cjfa-34397	99	100	fund	fund	NOUN
cjfa-34397	99	101	is	be	AUX
cjfa-34397	99	102	considered	consider	VERB
cjfa-34397	99	103	to	to	PART
cjfa-34397	99	104	possess	possess	VERB
cjfa-34397	99	105	the	the	DET
cjfa-34397	99	106	mta	mta	PROPN
cjfa-34397	99	107	.	.	PUNCT
cjfa-34397	100	1	(	(	PUNCT
cjfa-34397	100	2	2	2	NUM
cjfa-34397	100	3	)	)	PUNCT
cjfa-34397	100	4	where	where	SCONJ
cjfa-34397	100	5	,	,	PUNCT
cjfa-34397	100	6	rm	rm	PROPN
cjfa-34397	100	7	,	,	PUNCT
cjfa-34397	100	8	t	t	PROPN
cjfa-34397	100	9	is	be	AUX
cjfa-34397	100	10	the	the	DET
cjfa-34397	100	11	return	return	NOUN
cjfa-34397	100	12	of	of	ADP
cjfa-34397	100	13	the	the	DET
cjfa-34397	100	14	market	market	NOUN
cjfa-34397	100	15	portfolio	portfolio	NOUN
cjfa-34397	100	16	at	at	ADP
cjfa-34397	100	17	time	time	NOUN
cjfa-34397	100	18	t	t	PROPN
cjfa-34397	100	19	,	,	PUNCT
cjfa-34397	100	20	pt	pt	PROPN
cjfa-34397	100	21	,	,	PUNCT
cjfa-34397	100	22	is	be	AUX
cjfa-34397	100	23	the	the	DET
cjfa-34397	100	24	closing	closing	NOUN
cjfa-34397	100	25	price	price	NOUN
cjfa-34397	100	26	of	of	ADP
cjfa-34397	100	27	market	market	NOUN
cjfa-34397	100	28	portfolio	portfolio	NOUN
cjfa-34397	100	29	at	at	ADP
cjfa-34397	100	30	time	time	NOUN
cjfa-34397	100	31	t	t	PROPN
cjfa-34397	100	32	,	,	PUNCT
cjfa-34397	100	33	pt–1	pt–1	X
cjfa-34397	100	34	,	,	PUNCT
cjfa-34397	101	1	is	be	AUX
cjfa-34397	101	2	the	the	DET
cjfa-34397	101	3	closing	closing	NOUN
cjfa-34397	101	4	price	price	NOUN
cjfa-34397	101	5	of	of	ADP
cjfa-34397	101	6	the	the	DET
cjfa-34397	101	7	index	index	NOUN
cjfa-34397	101	8	at	at	ADP
cjfa-34397	101	9	t	t	PROPN
cjfa-34397	101	10	–	–	PUNCT
cjfa-34397	101	11	1	1	X
cjfa-34397	101	12	.	.	PUNCT
cjfa-34397	102	1	the	the	DET
cjfa-34397	102	2	yield	yield	NOUN
cjfa-34397	102	3	on	on	ADP
cjfa-34397	102	4	91-	91-	NUM
cjfa-34397	102	5	 	 	SPACE
cjfa-34397	102	6	day	day	NOUN
cjfa-34397	102	7	t	t	PROPN
cjfa-34397	102	8	-	-	PUNCT
cjfa-34397	102	9	bills	bill	NOUN
cjfa-34397	102	10	return	return	NOUN
cjfa-34397	102	11	is	be	AUX
cjfa-34397	102	12	calculated	calculate	VERB
cjfa-34397	102	13	on	on	ADP
cjfa-34397	102	14	monthly	monthly	ADJ
cjfa-34397	102	15	basis	basis	NOUN
cjfa-34397	102	16	.	.	PUNCT
cjfa-34397	103	1	unconditional	unconditional	ADJ
cjfa-34397	103	2	models	model	NOUN
cjfa-34397	103	3	of	of	ADP
cjfa-34397	103	4	market	market	NOUN
cjfa-34397	103	5	timing	timing	NOUN
cjfa-34397	103	6	ability	ability	NOUN
cjfa-34397	103	7	the	the	DET
cjfa-34397	103	8	literature	literature	NOUN
cjfa-34397	103	9	shows	show	VERB
cjfa-34397	103	10	that	that	SCONJ
cjfa-34397	103	11	there	there	PRON
cjfa-34397	103	12	is	be	VERB
cjfa-34397	103	13	a	a	DET
cjfa-34397	103	14	difference	difference	NOUN
cjfa-34397	103	15	between	between	ADP
cjfa-34397	103	16	the	the	DET
cjfa-34397	103	17	performance	performance	NOUN
cjfa-34397	103	18	of	of	ADP
cjfa-34397	103	19	the	the	DET
cjfa-34397	103	20	funds	fund	NOUN
cjfa-34397	103	21	with	with	ADP
cjfa-34397	103	22	respect	respect	NOUN
cjfa-34397	103	23	to	to	ADP
cjfa-34397	103	24	stock	stock	NOUN
cjfa-34397	103	25	-	-	PUNCT
cjfa-34397	103	26	selection	selection	NOUN
cjfa-34397	103	27	and	and	CCONJ
cjfa-34397	103	28	timing	timing	NOUN
cjfa-34397	103	29	ability	ability	NOUN
cjfa-34397	103	30	.	.	PUNCT
cjfa-34397	104	1	different	different	ADJ
cjfa-34397	104	2	risk	risk	NOUN
cjfa-34397	104	3	models	model	NOUN
cjfa-34397	104	4	are	be	AUX
cjfa-34397	104	5	used	use	VERB
cjfa-34397	104	6	to	to	PART
cjfa-34397	104	7	verify	verify	VERB
cjfa-34397	104	8	whether	whether	SCONJ
cjfa-34397	104	9	sps	sps	PROPN
cjfa-34397	104	10	and	and	CCONJ
cjfa-34397	104	11	mta	mta	PROPN
cjfa-34397	104	12	can	can	AUX
cjfa-34397	104	13	be	be	AUX
cjfa-34397	104	14	predicted	predict	VERB
cjfa-34397	104	15	.	.	PUNCT
cjfa-34397	105	1	it	it	PRON
cjfa-34397	105	2	is	be	AUX
cjfa-34397	105	3	understood	understand	VERB
cjfa-34397	105	4	that	that	SCONJ
cjfa-34397	105	5	the	the	DET
cjfa-34397	105	6	single	single	ADJ
cjfa-34397	105	7	factor	factor	NOUN
cjfa-34397	105	8	model	model	NOUN
cjfa-34397	105	9	measures	measure	VERB
cjfa-34397	105	10	the	the	DET
cjfa-34397	105	11	sps	sps	NOUN
cjfa-34397	105	12	.	.	PUNCT
cjfa-34397	106	1	however	however	ADV
cjfa-34397	106	2	,	,	PUNCT
cjfa-34397	106	3	the	the	DET
cjfa-34397	106	4	change	change	NOUN
cjfa-34397	106	5	in	in	ADP
cjfa-34397	106	6	strategies	strategy	NOUN
cjfa-34397	106	7	by	by	ADP
cjfa-34397	106	8	the	the	DET
cjfa-34397	106	9	managers	manager	NOUN
cjfa-34397	106	10	in	in	ADP
cjfa-34397	106	11	the	the	DET
cjfa-34397	106	12	portfolio	portfolio	NOUN
cjfa-34397	106	13	construction	construction	NOUN
cjfa-34397	106	14	is	be	AUX
cjfa-34397	106	15	not	not	PART
cjfa-34397	106	16	accounted	account	VERB
cjfa-34397	106	17	.	.	PUNCT
cjfa-34397	107	1	a	a	DET
cjfa-34397	107	2	quadratic	quadratic	ADJ
cjfa-34397	107	3	term	term	NOUN
cjfa-34397	107	4	has	have	AUX
cjfa-34397	107	5	been	be	AUX
cjfa-34397	107	6	added	add	VERB
cjfa-34397	107	7	to	to	ADP
cjfa-34397	107	8	the	the	DET
cjfa-34397	107	9	single	single	ADJ
cjfa-34397	107	10	factor	factor	NOUN
cjfa-34397	107	11	model	model	NOUN
cjfa-34397	107	12	to	to	PART
cjfa-34397	107	13	capture	capture	VERB
cjfa-34397	107	14	the	the	DET
cjfa-34397	107	15	convexity	convexity	NOUN
cjfa-34397	107	16	of	of	ADP
cjfa-34397	107	17	the	the	DET
cjfa-34397	107	18	fund	fund	NOUN
cjfa-34397	107	19	returns	return	NOUN
cjfa-34397	107	20	and	and	CCONJ
cjfa-34397	107	21	market	market	NOUN
cjfa-34397	107	22	returns	return	NOUN
cjfa-34397	107	23	.	.	PUNCT
cjfa-34397	108	1	the	the	DET
cjfa-34397	108	2	tm	tm	PROPN
cjfa-34397	108	3	model	model	NOUN
cjfa-34397	108	4	is	be	AUX
cjfa-34397	108	5	represented	represent	VERB
cjfa-34397	108	6	as	as	SCONJ
cjfa-34397	108	7	we	we	PRON
cjfa-34397	108	8	apply	apply	VERB
cjfa-34397	108	9	the	the	DET
cjfa-34397	108	10	unconditional	unconditional	ADJ
cjfa-34397	108	11	tm	tm	PROPN
cjfa-34397	108	12	and	and	CCONJ
cjfa-34397	108	13	hm	hm	PROPN
cjfa-34397	108	14	models	model	NOUN
cjfa-34397	108	15	and	and	CCONJ
cjfa-34397	108	16	the	the	DET
cjfa-34397	108	17	conditional	conditional	ADJ
cjfa-34397	108	18	tm	tm	NOUN
cjfa-34397	108	19	and	and	CCONJ
cjfa-34397	108	20	hm	hm	NOUN
cjfa-34397	108	21	models	model	NOUN
cjfa-34397	108	22	to	to	PART
cjfa-34397	108	23	measure	measure	VERB
cjfa-34397	108	24	the	the	DET
cjfa-34397	108	25	mta	mta	PROPN
cjfa-34397	108	26	of	of	ADP
cjfa-34397	108	27	large	large	ADJ
cjfa-34397	108	28	-	-	PUNCT
cjfa-34397	108	29	cap	cap	NOUN
cjfa-34397	108	30	equity	equity	NOUN
cjfa-34397	108	31	funds	fund	NOUN
cjfa-34397	108	32	.	.	PUNCT
cjfa-34397	109	1	in	in	ADP
cjfa-34397	109	2	order	order	NOUN
cjfa-34397	109	3	to	to	PART
cjfa-34397	109	4	find	find	VERB
cjfa-34397	109	5	significant	significant	ADJ
cjfa-34397	109	6	mta	mta	NOUN
cjfa-34397	109	7	,	,	PUNCT
cjfa-34397	109	8	we	we	PRON
cjfa-34397	109	9	use	use	VERB
cjfa-34397	109	10	monthly	monthly	ADJ
cjfa-34397	109	11	mutual	mutual	ADJ
cjfa-34397	109	12	fund	fund	NOUN
cjfa-34397	109	13	returns	return	NOUN
cjfa-34397	109	14	calculated	calculate	VERB
cjfa-34397	109	15	from	from	ADP
cjfa-34397	109	16	net	net	ADJ
cjfa-34397	109	17	assets	asset	NOUN
cjfa-34397	109	18	values	value	NOUN
cjfa-34397	109	19	of	of	ADP
cjfa-34397	109	20	each	each	DET
cjfa-34397	109	21	fund	fund	NOUN
cjfa-34397	109	22	as	as	SCONJ
cjfa-34397	109	23	r	r	NOUN
cjfa-34397	109	24	�	�	PROPN
cjfa-34397	109	25	=	=	SYM
cjfa-34397	109	26	nav	nav	PROPN
cjfa-34397	109	27	�	�	PROPN
cjfa-34397	109	28	–	–	PUNCT
cjfa-34397	109	29	nav	nav	PROPN
cjfa-34397	109	30	�	�	PROPN
cjfa-34397	109	31	�	�	PROPN
cjfa-34397	109	32	�	�	PROPN
cjfa-34397	109	33	nav	nav	PROPN
cjfa-34397	109	34	�	�	PROPN
cjfa-34397	109	35	�	�	PROPN
cjfa-34397	109	36	�	�	PROPN
cjfa-34397	109	37	(	(	PUNCT
cjfa-34397	109	38	1	1	NUM
cjfa-34397	109	39	)	)	PUNCT
cjfa-34397	109	40	where	where	SCONJ
cjfa-34397	109	41	,	,	PUNCT
cjfa-34397	109	42	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	109	43	�	�	PROPN
cjfa-34397	109	44	is	be	AUX
cjfa-34397	109	45	the	the	DET
cjfa-34397	109	46	return	return	NOUN
cjfa-34397	109	47	of	of	ADP
cjfa-34397	109	48	the	the	DET
cjfa-34397	109	49	fund	fund	NOUN
cjfa-34397	109	50	at	at	ADP
cjfa-34397	109	51	time	time	NOUN
cjfa-34397	109	52	𝑡𝑡	𝑡𝑡	PROPN
cjfa-34397	109	53	,	,	PUNCT
cjfa-34397	109	54	𝑁𝑁𝑁𝑁𝑁𝑁	𝑁𝑁𝑁𝑁𝑁𝑁	PROPN
cjfa-34397	109	55	�	�	PROPN
cjfa-34397	109	56	is	be	AUX
cjfa-34397	109	57	the	the	DET
cjfa-34397	109	58	net	net	ADJ
cjfa-34397	109	59	assets	asset	NOUN
cjfa-34397	109	60	value	value	NOUN
cjfa-34397	109	61	of	of	ADP
cjfa-34397	109	62	the	the	DET
cjfa-34397	109	63	fund	fund	NOUN
cjfa-34397	109	64	for	for	ADP
cjfa-34397	109	65	at	at	ADP
cjfa-34397	109	66	time	time	NOUN
cjfa-34397	109	67	𝑡𝑡	𝑡𝑡	PROPN
cjfa-34397	109	68	,	,	PUNCT
cjfa-34397	109	69	and	and	CCONJ
cjfa-34397	109	70	𝑁𝑁𝑁𝑁𝑁𝑁	𝑁𝑁𝑁𝑁𝑁𝑁	PROPN
cjfa-34397	109	71	�	�	PROPN
cjfa-34397	109	72	�	�	PROPN
cjfa-34397	109	73	�	�	PROPN
cjfa-34397	109	74	is	be	AUX
cjfa-34397	109	75	the	the	DET
cjfa-34397	109	76	net	net	ADJ
cjfa-34397	109	77	assets	asset	NOUN
cjfa-34397	109	78	value	value	NOUN
cjfa-34397	109	79	at	at	ADP
cjfa-34397	109	80	time	time	NOUN
cjfa-34397	109	81	𝑡𝑡	𝑡𝑡	PROPN
cjfa-34397	109	82	𝑡	𝑡	PROPN
cjfa-34397	109	83	1	1	NUM
cjfa-34397	109	84	.	.	PUNCT
cjfa-34397	110	1	the	the	DET
cjfa-34397	110	2	market	market	NOUN
cjfa-34397	110	3	return	return	NOUN
cjfa-34397	110	4	computed	compute	VERB
cjfa-34397	110	5	as	as	ADP
cjfa-34397	110	6	r	r	PROPN
cjfa-34397	110	7	�	�	PROPN
cjfa-34397	110	8	�	�	NOUN
cjfa-34397	110	9	�	�	PROPN
cjfa-34397	110	10	=	=	SYM
cjfa-34397	111	1	p	p	PROPN
cjfa-34397	111	2	�	�	PROPN
cjfa-34397	111	3	𝑡	𝑡	PROPN
cjfa-34397	111	4	p	p	PROPN
cjfa-34397	111	5	�	�	PROPN
cjfa-34397	111	6	�	�	PROPN
cjfa-34397	111	7	�	�	PROPN
cjfa-34397	111	8	p	p	PROPN
cjfa-34397	111	9	�	�	PROPN
cjfa-34397	111	10	�	�	PROPN
cjfa-34397	111	11	�	�	PROPN
cjfa-34397	111	12	(	(	PUNCT
cjfa-34397	111	13	2	2	NUM
cjfa-34397	111	14	)	)	PUNCT
cjfa-34397	111	15	where	where	SCONJ
cjfa-34397	111	16	,	,	PUNCT
cjfa-34397	111	17	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	111	18	�	�	PROPN
cjfa-34397	111	19	�	�	PROPN
cjfa-34397	111	20	�	�	PROPN
cjfa-34397	111	21	is	be	AUX
cjfa-34397	111	22	the	the	DET
cjfa-34397	111	23	return	return	NOUN
cjfa-34397	111	24	of	of	ADP
cjfa-34397	111	25	the	the	DET
cjfa-34397	111	26	market	market	NOUN
cjfa-34397	111	27	portfolio	portfolio	NOUN
cjfa-34397	111	28	at	at	ADP
cjfa-34397	111	29	time	time	NOUN
cjfa-34397	111	30	𝑡𝑡	𝑡𝑡	PROPN
cjfa-34397	111	31	,	,	PUNCT
cjfa-34397	111	32	𝑃𝑃	𝑃𝑃	PROPN
cjfa-34397	111	33	�	�	PROPN
cjfa-34397	111	34	is	be	AUX
cjfa-34397	111	35	the	the	DET
cjfa-34397	111	36	closing	closing	NOUN
cjfa-34397	111	37	price	price	NOUN
cjfa-34397	111	38	of	of	ADP
cjfa-34397	111	39	market	market	NOUN
cjfa-34397	111	40	portfolio	portfolio	NOUN
cjfa-34397	111	41	at	at	ADP
cjfa-34397	111	42	time	time	NOUN
cjfa-34397	111	43	𝑡𝑡	𝑡𝑡	PROPN
cjfa-34397	111	44	,	,	PUNCT
cjfa-34397	111	45	𝑃𝑃	𝑃𝑃	PROPN
cjfa-34397	111	46	�	�	PROPN
cjfa-34397	111	47	�	�	PROPN
cjfa-34397	111	48	�	�	PROPN
cjfa-34397	111	49	is	be	AUX
cjfa-34397	111	50	the	the	DET
cjfa-34397	111	51	closing	closing	NOUN
cjfa-34397	111	52	price	price	NOUN
cjfa-34397	111	53	of	of	ADP
cjfa-34397	111	54	the	the	DET
cjfa-34397	111	55	index	index	NOUN
cjfa-34397	111	56	at	at	ADP
cjfa-34397	111	57	𝑡𝑡	𝑡𝑡	PROPN
cjfa-34397	111	58	𝑡	𝑡	PROPN
cjfa-34397	111	59	1	1	NUM
cjfa-34397	111	60	.	.	PUNCT
cjfa-34397	112	1	the	the	DET
cjfa-34397	112	2	yield	yield	NOUN
cjfa-34397	112	3	on	on	ADP
cjfa-34397	112	4	91	91	NUM
cjfa-34397	112	5	-	-	PUNCT
cjfa-34397	112	6	day	day	NOUN
cjfa-34397	112	7	t	t	PROPN
cjfa-34397	112	8	-	-	PUNCT
cjfa-34397	112	9	bills	bill	NOUN
cjfa-34397	112	10	return	return	NOUN
cjfa-34397	112	11	is	be	AUX
cjfa-34397	112	12	calculated	calculate	VERB
cjfa-34397	112	13	on	on	ADP
cjfa-34397	112	14	monthly	monthly	ADJ
cjfa-34397	112	15	basis	basis	NOUN
cjfa-34397	112	16	.	.	PUNCT
cjfa-34397	113	1	unconditional	unconditional	ADJ
cjfa-34397	113	2	models	model	NOUN
cjfa-34397	113	3	of	of	ADP
cjfa-34397	113	4	market	market	NOUN
cjfa-34397	113	5	timing	timing	NOUN
cjfa-34397	113	6	ability	ability	NOUN
cjfa-34397	113	7	the	the	DET
cjfa-34397	113	8	literature	literature	NOUN
cjfa-34397	113	9	shows	show	VERB
cjfa-34397	113	10	that	that	SCONJ
cjfa-34397	113	11	there	there	PRON
cjfa-34397	113	12	is	be	VERB
cjfa-34397	113	13	a	a	DET
cjfa-34397	113	14	difference	difference	NOUN
cjfa-34397	113	15	between	between	ADP
cjfa-34397	113	16	the	the	DET
cjfa-34397	113	17	performance	performance	NOUN
cjfa-34397	113	18	of	of	ADP
cjfa-34397	113	19	the	the	DET
cjfa-34397	113	20	funds	fund	NOUN
cjfa-34397	113	21	with	with	ADP
cjfa-34397	113	22	respect	respect	NOUN
cjfa-34397	113	23	to	to	ADP
cjfa-34397	113	24	stock	stock	NOUN
cjfa-34397	113	25	-	-	PUNCT
cjfa-34397	113	26	selection	selection	NOUN
cjfa-34397	113	27	and	and	CCONJ
cjfa-34397	113	28	timing	timing	NOUN
cjfa-34397	113	29	ability	ability	NOUN
cjfa-34397	113	30	.	.	PUNCT
cjfa-34397	114	1	different	different	ADJ
cjfa-34397	114	2	risk	risk	NOUN
cjfa-34397	114	3	models	model	NOUN
cjfa-34397	114	4	are	be	AUX
cjfa-34397	114	5	used	use	VERB
cjfa-34397	114	6	to	to	PART
cjfa-34397	114	7	verify	verify	VERB
cjfa-34397	114	8	whether	whether	SCONJ
cjfa-34397	114	9	sps	sps	PROPN
cjfa-34397	114	10	and	and	CCONJ
cjfa-34397	114	11	mta	mta	PROPN
cjfa-34397	114	12	can	can	AUX
cjfa-34397	114	13	be	be	AUX
cjfa-34397	114	14	predicted	predict	VERB
cjfa-34397	114	15	.	.	PUNCT
cjfa-34397	115	1	it	it	PRON
cjfa-34397	115	2	is	be	AUX
cjfa-34397	115	3	understood	understand	VERB
cjfa-34397	115	4	that	that	SCONJ
cjfa-34397	115	5	the	the	DET
cjfa-34397	115	6	single	single	ADJ
cjfa-34397	115	7	factor	factor	NOUN
cjfa-34397	115	8	model	model	NOUN
cjfa-34397	115	9	measures	measure	VERB
cjfa-34397	115	10	the	the	DET
cjfa-34397	115	11	sps	sps	NOUN
cjfa-34397	115	12	.	.	PUNCT
cjfa-34397	116	1	however	however	ADV
cjfa-34397	116	2	,	,	PUNCT
cjfa-34397	116	3	the	the	DET
cjfa-34397	116	4	change	change	NOUN
cjfa-34397	116	5	in	in	ADP
cjfa-34397	116	6	strategies	strategy	NOUN
cjfa-34397	116	7	by	by	ADP
cjfa-34397	116	8	the	the	DET
cjfa-34397	116	9	managers	manager	NOUN
cjfa-34397	116	10	in	in	ADP
cjfa-34397	116	11	the	the	DET
cjfa-34397	116	12	portfolio	portfolio	NOUN
cjfa-34397	116	13	construction	construction	NOUN
cjfa-34397	116	14	is	be	AUX
cjfa-34397	116	15	not	not	PART
cjfa-34397	116	16	accounted	account	VERB
cjfa-34397	116	17	.	.	PUNCT
cjfa-34397	117	1	a	a	DET
cjfa-34397	117	2	quadratic	quadratic	ADJ
cjfa-34397	117	3	term	term	NOUN
cjfa-34397	117	4	has	have	AUX
cjfa-34397	117	5	been	be	AUX
cjfa-34397	117	6	added	add	VERB
cjfa-34397	117	7	to	to	ADP
cjfa-34397	117	8	the	the	DET
cjfa-34397	117	9	single	single	ADJ
cjfa-34397	117	10	factor	factor	NOUN
cjfa-34397	117	11	model	model	NOUN
cjfa-34397	117	12	to	to	PART
cjfa-34397	117	13	capture	capture	VERB
cjfa-34397	117	14	the	the	DET
cjfa-34397	117	15	convexity	convexity	NOUN
cjfa-34397	117	16	of	of	ADP
cjfa-34397	117	17	the	the	DET
cjfa-34397	117	18	fund	fund	NOUN
cjfa-34397	117	19	returns	return	NOUN
cjfa-34397	117	20	and	and	CCONJ
cjfa-34397	117	21	market	market	NOUN
cjfa-34397	117	22	returns	return	NOUN
cjfa-34397	117	23	.	.	PUNCT
cjfa-34397	118	1	the	the	DET
cjfa-34397	118	2	tm	tm	PROPN
cjfa-34397	118	3	model	model	NOUN
cjfa-34397	118	4	is	be	AUX
cjfa-34397	118	5	represented	represent	VERB
cjfa-34397	118	6	as	as	ADP
cjfa-34397	118	7	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	118	8	�	�	PROPN
cjfa-34397	118	9	𝑡	𝑡	PROPN
cjfa-34397	118	10	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	118	11	�	�	PROPN
cjfa-34397	118	12	=	=	PUNCT
cjfa-34397	118	13	 	 	SPACE
cjfa-34397	118	14	α	α	PROPN
cjfa-34397	118	15	+	+	NOUN
cjfa-34397	118	16	 	 	SPACE
cjfa-34397	118	17	β	β	NOUN
cjfa-34397	118	18	 	 	SPACE
cjfa-34397	118	19	�	�	PROPN
cjfa-34397	118	20	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	118	21	�	�	PROPN
cjfa-34397	118	22	𝑡	𝑡	PROPN
cjfa-34397	118	23	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	118	24	�	�	PROPN
cjfa-34397	118	25	�	�	PROPN
cjfa-34397	119	1	+	+	CCONJ
cjfa-34397	119	2	 	 	SPACE
cjfa-34397	119	3	γ	γ	PROPN
cjfa-34397	119	4	 	 	SPACE
cjfa-34397	119	5	�	�	PROPN
cjfa-34397	119	6	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	119	7	�	�	PROPN
cjfa-34397	119	8	𝑡	𝑡	PROPN
cjfa-34397	119	9	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	119	10	�	�	PROPN
cjfa-34397	119	11	�	�	PROPN
cjfa-34397	119	12	�	�	PROPN
cjfa-34397	119	13	+	+	CCONJ
cjfa-34397	119	14	ε	ε	PROPN
cjfa-34397	119	15	�	�	PROPN
cjfa-34397	119	16	  	  	SPACE
cjfa-34397	119	17	(	(	PUNCT
cjfa-34397	119	18	3	3	NUM
cjfa-34397	119	19	)	)	PUNCT
cjfa-34397	119	20	where	where	SCONJ
cjfa-34397	119	21	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	119	22	�	�	PROPN
cjfa-34397	119	23	is	be	AUX
cjfa-34397	119	24	the	the	DET
cjfa-34397	119	25	return	return	NOUN
cjfa-34397	119	26	of	of	ADP
cjfa-34397	119	27	fund	fund	NOUN
cjfa-34397	119	28	𝑝𝑝	𝑝𝑝	NOUN
cjfa-34397	119	29	;	;	PUNCT
cjfa-34397	119	30	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	119	31	�	�	PROPN
cjfa-34397	119	32	is	be	AUX
cjfa-34397	119	33	the	the	DET
cjfa-34397	119	34	return	return	NOUN
cjfa-34397	119	35	on	on	ADP
cjfa-34397	119	36	the	the	DET
cjfa-34397	119	37	market	market	NOUN
cjfa-34397	119	38	index	index	NOUN
cjfa-34397	119	39	;	;	PUNCT
cjfa-34397	119	40	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	119	41	�	�	PROPN
cjfa-34397	119	42	is	be	AUX
cjfa-34397	119	43	the	the	DET
cjfa-34397	119	44	risk	risk	NOUN
cjfa-34397	119	45	-	-	PUNCT
cjfa-34397	119	46	free	free	ADJ
cjfa-34397	119	47	rate	rate	NOUN
cjfa-34397	119	48	;	;	PUNCT
cjfa-34397	119	49	𝛼𝛼	𝛼𝛼	ADP
cjfa-34397	119	50	jensen	jensen	PROPN
cjfa-34397	119	51	’s	’s	PART
cjfa-34397	119	52	alpha	alpha	NOUN
cjfa-34397	119	53	;	;	PUNCT
cjfa-34397	119	54	𝛽𝛽	𝛽𝛽	VERB
cjfa-34397	119	55	is	be	AUX
cjfa-34397	119	56	systematic	systematic	ADJ
cjfa-34397	119	57	risk	risk	NOUN
cjfa-34397	119	58	of	of	ADP
cjfa-34397	119	59	fund	fund	NOUN
cjfa-34397	119	60	𝑝𝑝	𝑝𝑝	NOUN
cjfa-34397	119	61	;	;	PUNCT
cjfa-34397	119	62	𝜀𝜀	𝜀𝜀	PRON
cjfa-34397	119	63	�	�	PROPN
cjfa-34397	119	64	is	be	AUX
cjfa-34397	119	65	the	the	DET
cjfa-34397	119	66	error	error	NOUN
cjfa-34397	119	67	term	term	NOUN
cjfa-34397	119	68	;	;	PUNCT
cjfa-34397	119	69	𝛾𝛾	𝛾𝛾	ADV
cjfa-34397	119	70	is	be	AUX
cjfa-34397	119	71	estimate	estimate	NOUN
cjfa-34397	119	72	of	of	ADP
cjfa-34397	119	73	the	the	DET
cjfa-34397	119	74	timing	timing	NOUN
cjfa-34397	119	75	ability	ability	NOUN
cjfa-34397	119	76	of	of	ADP
cjfa-34397	119	77	the	the	DET
cjfa-34397	119	78	fund	fund	NOUN
cjfa-34397	119	79	𝑝𝑝.	𝑝𝑝.	PROPN
cjfa-34397	119	80	if	if	SCONJ
cjfa-34397	119	81	significant	significant	ADJ
cjfa-34397	119	82	positive	positive	ADJ
cjfa-34397	119	83	𝛾𝛾	𝛾𝛾	NOUN
cjfa-34397	119	84	,	,	PUNCT
cjfa-34397	119	85	denotes	denote	VERB
cjfa-34397	119	86	the	the	DET
cjfa-34397	119	87	result	result	NOUN
cjfa-34397	119	88	of	of	ADP
cjfa-34397	119	89	convex	convex	NOUN
cjfa-34397	119	90	to	to	ADP
cjfa-34397	119	91	the	the	DET
cjfa-34397	119	92	portfolio	portfolio	NOUN
cjfa-34397	119	93	with	with	ADP
cjfa-34397	119	94	respect	respect	NOUN
cjfa-34397	119	95	to	to	ADP
cjfa-34397	119	96	the	the	DET
cjfa-34397	119	97	market	market	NOUN
cjfa-34397	119	98	and	and	CCONJ
cjfa-34397	119	99	the	the	DET
cjfa-34397	119	100	fund	fund	NOUN
cjfa-34397	119	101	is	be	AUX
cjfa-34397	119	102	considered	consider	VERB
cjfa-34397	119	103	to	to	PART
cjfa-34397	119	104	possess	possess	VERB
cjfa-34397	119	105	the	the	DET
cjfa-34397	119	106	mta	mta	PROPN
cjfa-34397	119	107	.	.	PUNCT
cjfa-34397	120	1	(	(	PUNCT
cjfa-34397	120	2	3	3	X
cjfa-34397	120	3	)	)	PUNCT
cjfa-34397	120	4	where	where	SCONJ
cjfa-34397	120	5	rp	rp	NOUN
cjfa-34397	120	6	is	be	AUX
cjfa-34397	120	7	the	the	DET
cjfa-34397	120	8	return	return	NOUN
cjfa-34397	120	9	of	of	ADP
cjfa-34397	120	10	fund	fund	NOUN
cjfa-34397	120	11	p	p	X
cjfa-34397	120	12	;	;	PUNCT
cjfa-34397	120	13	rm	rm	PROPN
cjfa-34397	120	14	is	be	AUX
cjfa-34397	120	15	the	the	DET
cjfa-34397	120	16	return	return	NOUN
cjfa-34397	120	17	on	on	ADP
cjfa-34397	120	18	the	the	DET
cjfa-34397	120	19	market	market	NOUN
cjfa-34397	120	20	index	index	NOUN
cjfa-34397	120	21	;	;	PUNCT
cjfa-34397	120	22	rf	rf	PRON
cjfa-34397	120	23	is	be	AUX
cjfa-34397	120	24	the	the	DET
cjfa-34397	120	25	risk	risk	NOUN
cjfa-34397	120	26	-	-	PUNCT
cjfa-34397	120	27	free	free	ADJ
cjfa-34397	120	28	rate	rate	NOUN
cjfa-34397	120	29	;	;	PUNCT
cjfa-34397	120	30	α	α	PROPN
cjfa-34397	120	31	jensen	jensen	PROPN
cjfa-34397	120	32	’s	’s	PART
cjfa-34397	120	33	alpha	alpha	NOUN
cjfa-34397	120	34	;	;	PUNCT
cjfa-34397	120	35	β	β	X
cjfa-34397	120	36	is	be	AUX
cjfa-34397	120	37	systematic	systematic	ADJ
cjfa-34397	120	38	risk	risk	NOUN
cjfa-34397	120	39	of	of	ADP
cjfa-34397	120	40	fund	fund	NOUN
cjfa-34397	120	41	p	p	X
cjfa-34397	120	42	;	;	PUNCT
cjfa-34397	120	43	εp	εp	NUM
cjfa-34397	120	44	;	;	PUNCT
cjfa-34397	120	45	is	be	AUX
cjfa-34397	120	46	the	the	DET
cjfa-34397	120	47	error	error	NOUN
cjfa-34397	120	48	term	term	NOUN
cjfa-34397	120	49	;	;	PUNCT
cjfa-34397	120	50	γ	γ	X
cjfa-34397	120	51	is	be	AUX
cjfa-34397	120	52	estimate	estimate	NOUN
cjfa-34397	120	53	of	of	ADP
cjfa-34397	120	54	the	the	DET
cjfa-34397	120	55	timing	timing	NOUN
cjfa-34397	120	56	ability	ability	NOUN
cjfa-34397	120	57	of	of	ADP
cjfa-34397	120	58	the	the	DET
cjfa-34397	120	59	fund	fund	NOUN
cjfa-34397	121	1	p.	p.	NOUN
cjfa-34397	122	1	if	if	SCONJ
cjfa-34397	122	2	significant	significant	ADJ
cjfa-34397	122	3	positive	positive	ADJ
cjfa-34397	122	4	γ	γ	X
cjfa-34397	122	5	,	,	PUNCT
cjfa-34397	122	6	v.	v.	ADP
cjfa-34397	122	7	veeravel	veeravel	NOUN
cjfa-34397	122	8	,	,	PUNCT
cjfa-34397	122	9	s.	s.	PROPN
cjfa-34397	122	10	mohanasundaram92	mohanasundaram92	PROPN
cjfa-34397	122	11	denotes	denote	VERB
cjfa-34397	122	12	the	the	DET
cjfa-34397	122	13	result	result	NOUN
cjfa-34397	122	14	of	of	ADP
cjfa-34397	122	15	convex	convex	NOUN
cjfa-34397	122	16	to	to	ADP
cjfa-34397	122	17	the	the	DET
cjfa-34397	122	18	portfolio	portfolio	NOUN
cjfa-34397	122	19	with	with	ADP
cjfa-34397	122	20	respect	respect	NOUN
cjfa-34397	122	21	to	to	ADP
cjfa-34397	122	22	the	the	DET
cjfa-34397	122	23	market	market	NOUN
cjfa-34397	122	24	and	and	CCONJ
cjfa-34397	122	25	the	the	DET
cjfa-34397	122	26	fund	fund	NOUN
cjfa-34397	122	27	is	be	AUX
cjfa-34397	122	28	considered	consider	VERB
cjfa-34397	122	29	to	to	PART
cjfa-34397	122	30	possess	possess	VERB
cjfa-34397	122	31	the	the	DET
cjfa-34397	122	32	mta	mta	PROPN
cjfa-34397	122	33	.	.	PUNCT
cjfa-34397	123	1	the	the	DET
cjfa-34397	123	2	hm	hm	PROPN
cjfa-34397	123	3	model	model	NOUN
cjfa-34397	123	4	regresses	regress	VERB
cjfa-34397	123	5	using	use	VERB
cjfa-34397	123	6	a	a	DET
cjfa-34397	123	7	dummy	dummy	ADJ
cjfa-34397	123	8	variable	variable	NOUN
cjfa-34397	123	9	as	as	ADP
cjfa-34397	123	10	the	the	DET
cjfa-34397	123	11	independent	independent	ADJ
cjfa-34397	123	12	variable	variable	NOUN
cjfa-34397	123	13	.	.	PUNCT
cjfa-34397	124	1	a	a	DET
cjfa-34397	124	2	fund	fund	NOUN
cjfa-34397	124	3	with	with	ADP
cjfa-34397	124	4	higher	high	ADJ
cjfa-34397	124	5	beta	beta	NOUN
cjfa-34397	124	6	value	value	NOUN
cjfa-34397	124	7	implies	imply	VERB
cjfa-34397	124	8	that	that	SCONJ
cjfa-34397	124	9	the	the	DET
cjfa-34397	124	10	market	market	NOUN
cjfa-34397	124	11	does	do	AUX
cjfa-34397	124	12	outperform	outperform	NOUN
cjfa-34397	124	13	,	,	PUNCT
cjfa-34397	124	14	while	while	SCONJ
cjfa-34397	124	15	fund	fund	NOUN
cjfa-34397	124	16	-	-	PUNCT
cjfa-34397	124	17	beta	beta	NOUN
cjfa-34397	124	18	with	with	ADP
cjfa-34397	124	19	lower	low	ADJ
cjfa-34397	124	20	value	value	NOUN
cjfa-34397	124	21	implies	imply	VERB
cjfa-34397	124	22	that	that	SCONJ
cjfa-34397	124	23	the	the	DET
cjfa-34397	124	24	market	market	NOUN
cjfa-34397	124	25	exhibits	exhibit	VERB
cjfa-34397	124	26	poor	poor	ADJ
cjfa-34397	124	27	performance	performance	NOUN
cjfa-34397	124	28	.	.	PUNCT
cjfa-34397	125	1	hence	hence	ADV
cjfa-34397	125	2	,	,	PUNCT
cjfa-34397	125	3	in	in	ADP
cjfa-34397	125	4	line	line	NOUN
cjfa-34397	125	5	with	with	ADP
cjfa-34397	125	6	risk	risk	NOUN
cjfa-34397	125	7	-	-	PUNCT
cjfa-34397	125	8	return	return	NOUN
cjfa-34397	125	9	theories	theory	NOUN
cjfa-34397	125	10	,	,	PUNCT
cjfa-34397	125	11	fund	fund	NOUN
cjfa-34397	125	12	managers	manager	NOUN
cjfa-34397	125	13	tend	tend	VERB
cjfa-34397	125	14	to	to	PART
cjfa-34397	125	15	choose	choose	VERB
cjfa-34397	125	16	high	high	ADJ
cjfa-34397	125	17	beta	beta	NOUN
cjfa-34397	125	18	funds	fund	NOUN
cjfa-34397	125	19	when	when	SCONJ
cjfa-34397	125	20	they	they	PRON
cjfa-34397	125	21	expect	expect	VERB
cjfa-34397	125	22	higher	high	ADJ
cjfa-34397	125	23	market	market	NOUN
cjfa-34397	125	24	returns	return	NOUN
cjfa-34397	125	25	.	.	PUNCT
cjfa-34397	126	1	the	the	DET
cjfa-34397	126	2	equation	equation	NOUN
cjfa-34397	126	3	of	of	ADP
cjfa-34397	126	4	the	the	DET
cjfa-34397	126	5	hm	hm	PROPN
cjfa-34397	126	6	model	model	NOUN
cjfa-34397	126	7	is	be	AUX
cjfa-34397	126	8	represented	represent	VERB
cjfa-34397	126	9	by	by	ADP
cjfa-34397	126	10	the	the	DET
cjfa-34397	126	11	equation	equation	NOUN
cjfa-34397	126	12	the	the	DET
cjfa-34397	126	13	hm	hm	PROPN
cjfa-34397	126	14	model	model	NOUN
cjfa-34397	126	15	regresses	regress	VERB
cjfa-34397	126	16	using	use	VERB
cjfa-34397	126	17	a	a	DET
cjfa-34397	126	18	dummy	dummy	ADJ
cjfa-34397	126	19	variable	variable	NOUN
cjfa-34397	126	20	as	as	ADP
cjfa-34397	126	21	the	the	DET
cjfa-34397	126	22	independent	independent	ADJ
cjfa-34397	126	23	variable	variable	NOUN
cjfa-34397	126	24	.	.	PUNCT
cjfa-34397	127	1	a	a	DET
cjfa-34397	127	2	fund	fund	NOUN
cjfa-34397	127	3	with	with	ADP
cjfa-34397	127	4	higher	high	ADJ
cjfa-34397	127	5	beta	beta	NOUN
cjfa-34397	127	6	value	value	NOUN
cjfa-34397	127	7	implies	imply	VERB
cjfa-34397	127	8	that	that	SCONJ
cjfa-34397	127	9	the	the	DET
cjfa-34397	127	10	market	market	NOUN
cjfa-34397	127	11	does	do	AUX
cjfa-34397	127	12	outperform	outperform	NOUN
cjfa-34397	127	13	,	,	PUNCT
cjfa-34397	127	14	while	while	SCONJ
cjfa-34397	127	15	fund	fund	NOUN
cjfa-34397	127	16	-	-	PUNCT
cjfa-34397	127	17	beta	beta	NOUN
cjfa-34397	127	18	with	with	ADP
cjfa-34397	127	19	lower	low	ADJ
cjfa-34397	127	20	value	value	NOUN
cjfa-34397	127	21	implies	imply	VERB
cjfa-34397	127	22	that	that	SCONJ
cjfa-34397	127	23	the	the	DET
cjfa-34397	127	24	market	market	NOUN
cjfa-34397	127	25	exhibits	exhibit	VERB
cjfa-34397	127	26	poor	poor	ADJ
cjfa-34397	127	27	performance	performance	NOUN
cjfa-34397	127	28	.	.	PUNCT
cjfa-34397	128	1	hence	hence	ADV
cjfa-34397	128	2	,	,	PUNCT
cjfa-34397	128	3	in	in	ADP
cjfa-34397	128	4	line	line	NOUN
cjfa-34397	128	5	with	with	ADP
cjfa-34397	128	6	risk	risk	NOUN
cjfa-34397	128	7	-	-	PUNCT
cjfa-34397	128	8	return	return	NOUN
cjfa-34397	128	9	theories	theory	NOUN
cjfa-34397	128	10	,	,	PUNCT
cjfa-34397	128	11	fund	fund	NOUN
cjfa-34397	128	12	managers	manager	NOUN
cjfa-34397	128	13	tend	tend	VERB
cjfa-34397	128	14	to	to	PART
cjfa-34397	128	15	choose	choose	VERB
cjfa-34397	128	16	high	high	ADJ
cjfa-34397	128	17	beta	beta	NOUN
cjfa-34397	128	18	funds	fund	NOUN
cjfa-34397	128	19	when	when	SCONJ
cjfa-34397	128	20	they	they	PRON
cjfa-34397	128	21	expect	expect	VERB
cjfa-34397	128	22	higher	high	ADJ
cjfa-34397	128	23	market	market	NOUN
cjfa-34397	128	24	returns	return	NOUN
cjfa-34397	128	25	.	.	PUNCT
cjfa-34397	129	1	the	the	DET
cjfa-34397	129	2	equation	equation	NOUN
cjfa-34397	129	3	of	of	ADP
cjfa-34397	129	4	the	the	DET
cjfa-34397	129	5	hm	hm	PROPN
cjfa-34397	129	6	model	model	NOUN
cjfa-34397	129	7	is	be	AUX
cjfa-34397	129	8	represented	represent	VERB
cjfa-34397	129	9	by	by	ADP
cjfa-34397	129	10	the	the	DET
cjfa-34397	129	11	equation	equation	NOUN
cjfa-34397	129	12	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	129	13	�	�	PROPN
cjfa-34397	129	14	−	−	PROPN
cjfa-34397	129	15	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	129	16	�	�	PROPN
cjfa-34397	129	17	=	=	SYM
cjfa-34397	129	18	𝛼𝛼	𝛼𝛼	ADP
cjfa-34397	129	19	𝛼	𝛼	PROPN
cjfa-34397	129	20	𝛼𝛼	𝛼𝛼	ADP
cjfa-34397	129	21	�	�	PROPN
cjfa-34397	129	22	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	129	23	�	�	PROPN
cjfa-34397	130	1	−	−	PROPN
cjfa-34397	130	2	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	130	3	�	�	PROPN
cjfa-34397	130	4	�	�	PROPN
cjfa-34397	130	5	𝛼	𝛼	PROPN
cjfa-34397	130	6	𝛾𝛾𝛾𝛾	𝛾𝛾𝛾𝛾	PROPN
cjfa-34397	130	7	�	�	PROPN
cjfa-34397	130	8	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	130	9	�	�	PROPN
cjfa-34397	130	10	−	−	PROPN
cjfa-34397	130	11	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	130	12	�	�	PROPN
cjfa-34397	130	13	�	�	PROPN
cjfa-34397	130	14	𝛼	𝛼	PROPN
cjfa-34397	130	15	𝜀𝜀	𝜀𝜀	PRON
cjfa-34397	130	16	�	�	PROPN
cjfa-34397	130	17	(	(	PUNCT
cjfa-34397	130	18	4	4	NUM
cjfa-34397	130	19	)	)	PUNCT
cjfa-34397	130	20	where	where	SCONJ
cjfa-34397	130	21	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	130	22	�	�	PROPN
cjfa-34397	130	23	,	,	PUNCT
cjfa-34397	130	24	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	130	25	�	�	PROPN
cjfa-34397	130	26	,	,	PUNCT
cjfa-34397	130	27	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	130	28	�	�	PROPN
cjfa-34397	130	29	,	,	PUNCT
cjfa-34397	130	30	𝛼𝛼	𝛼𝛼	ADP
cjfa-34397	130	31	,	,	PUNCT
cjfa-34397	130	32	𝛼𝛼	𝛼𝛼	ADP
cjfa-34397	130	33	,	,	PUNCT
cjfa-34397	130	34	and	and	CCONJ
cjfa-34397	130	35	𝜀𝜀	𝜀𝜀	PRON
cjfa-34397	130	36	�	�	PROPN
cjfa-34397	130	37	are	be	AUX
cjfa-34397	130	38	citrus	citrus	NOUN
cjfa-34397	130	39	paribus	paribus	NOUN
cjfa-34397	130	40	as	as	ADP
cjfa-34397	130	41	(	(	PUNCT
cjfa-34397	130	42	3	3	NUM
cjfa-34397	130	43	)	)	PUNCT
cjfa-34397	130	44	,	,	PUNCT
cjfa-34397	130	45	𝛾𝛾	𝛾𝛾	PROPN
cjfa-34397	130	46	refers	refer	VERB
cjfa-34397	130	47	to	to	ADP
cjfa-34397	130	48	dummy	dummy	ADJ
cjfa-34397	130	49	variable	variable	NOUN
cjfa-34397	130	50	with	with	ADP
cjfa-34397	130	51	the	the	DET
cjfa-34397	130	52	value	value	NOUN
cjfa-34397	130	53	1	1	NUM
cjfa-34397	130	54	with	with	SCONJ
cjfa-34397	130	55	positive	positive	ADJ
cjfa-34397	130	56	excess	excess	ADJ
cjfa-34397	130	57	markets	market	NOUN
cjfa-34397	130	58	return	return	VERB
cjfa-34397	130	59	and	and	CCONJ
cjfa-34397	130	60	0	0	NUM
cjfa-34397	130	61	with	with	ADP
cjfa-34397	130	62	negative	negative	ADJ
cjfa-34397	130	63	market	market	NOUN
cjfa-34397	130	64	return	return	NOUN
cjfa-34397	130	65	.	.	PUNCT
cjfa-34397	131	1	the	the	DET
cjfa-34397	131	2	estimate	estimate	NOUN
cjfa-34397	131	3	𝛾𝛾	𝛾𝛾	ADP
cjfa-34397	131	4	measures	measure	VERB
cjfa-34397	131	5	the	the	DET
cjfa-34397	131	6	difference	difference	NOUN
cjfa-34397	131	7	between	between	ADP
cjfa-34397	131	8	the	the	DET
cjfa-34397	131	9	bull	bull	NOUN
cjfa-34397	131	10	and	and	CCONJ
cjfa-34397	131	11	bear	bear	VERB
cjfa-34397	131	12	market	market	NOUN
cjfa-34397	131	13	𝛼𝛼𝛽𝛽.	𝛼𝛼𝛽𝛽.	NOUN
cjfa-34397	131	14	a	a	DET
cjfa-34397	131	15	positive	positive	ADJ
cjfa-34397	131	16	/	/	SYM
cjfa-34397	131	17	negative	negative	ADJ
cjfa-34397	131	18	significant	significant	ADJ
cjfa-34397	131	19	𝛾𝛾	𝛾𝛾	ADP
cjfa-34397	131	20	𝛾𝛾𝛾𝛾𝛾𝛾	𝛾𝛾𝛾𝛾𝛾𝛾	PROPN
cjfa-34397	131	21	𝛾𝛾	𝛾𝛾	SCONJ
cjfa-34397	131	22	𝛾𝛾𝛾𝛾	𝛾𝛾𝛾𝛾	PROPN
cjfa-34397	131	23	𝛾𝛾𝛾	𝛾𝛾𝛾	PROPN
cjfa-34397	131	24	fund	fund	NOUN
cjfa-34397	131	25	manager	manager	NOUN
cjfa-34397	131	26	is	be	AUX
cjfa-34397	131	27	a	a	DET
cjfa-34397	131	28	successful	successful	ADJ
cjfa-34397	131	29	/	/	SYM
cjfa-34397	131	30	unsuccessful	unsuccessful	ADJ
cjfa-34397	131	31	macro	macro	ADJ
cjfa-34397	131	32	predictor	predictor	NOUN
cjfa-34397	131	33	and	and	CCONJ
cjfa-34397	131	34	market	market	NOUN
cjfa-34397	131	35	timer	timer	NOUN
cjfa-34397	131	36	.	.	PUNCT
cjfa-34397	132	1	conditional	conditional	ADJ
cjfa-34397	132	2	models	model	NOUN
cjfa-34397	132	3	of	of	ADP
cjfa-34397	132	4	market	market	NOUN
cjfa-34397	132	5	timing	timing	NOUN
cjfa-34397	132	6	ability	ability	NOUN
cjfa-34397	132	7	the	the	DET
cjfa-34397	132	8	conditional	conditional	ADJ
cjfa-34397	132	9	mta	mta	PROPN
cjfa-34397	132	10	model	model	NOUN
cjfa-34397	132	11	(	(	PUNCT
cjfa-34397	132	12	ferson	ferson	PROPN
cjfa-34397	132	13	&	&	CCONJ
cjfa-34397	132	14	warther	warther	PROPN
cjfa-34397	132	15	,	,	PUNCT
cjfa-34397	132	16	1996	1996	NUM
cjfa-34397	132	17	)	)	PUNCT
cjfa-34397	132	18	is	be	AUX
cjfa-34397	132	19	built	build	VERB
cjfa-34397	132	20	on	on	ADP
cjfa-34397	132	21	the	the	DET
cjfa-34397	132	22	understanding	understanding	NOUN
cjfa-34397	132	23	that	that	PRON
cjfa-34397	132	24	the	the	DET
cjfa-34397	132	25	jensen	jensen	PROPN
cjfa-34397	132	26	’s	’s	PART
cjfa-34397	132	27	alpha	alpha	NOUN
cjfa-34397	132	28	possesses	possess	VERB
cjfa-34397	132	29	the	the	DET
cjfa-34397	132	30	information	information	NOUN
cjfa-34397	132	31	of	of	ADP
cjfa-34397	132	32	public	public	ADJ
cjfa-34397	132	33	information	information	NOUN
cjfa-34397	132	34	variables	variable	NOUN
cjfa-34397	132	35	(	(	PUNCT
cjfa-34397	132	36	pivs	pivs	ADJ
cjfa-34397	132	37	)	)	PUNCT
cjfa-34397	132	38	.	.	PUNCT
cjfa-34397	133	1	this	this	DET
cjfa-34397	133	2	model	model	NOUN
cjfa-34397	133	3	assesses	assess	VERB
cjfa-34397	133	4	the	the	DET
cjfa-34397	133	5	ability	ability	NOUN
cjfa-34397	133	6	of	of	ADP
cjfa-34397	133	7	the	the	DET
cjfa-34397	133	8	managers	manager	NOUN
cjfa-34397	133	9	to	to	PART
cjfa-34397	133	10	capitalise	capitalise	VERB
cjfa-34397	133	11	the	the	DET
cjfa-34397	133	12	publicly	publicly	ADV
cjfa-34397	133	13	available	available	ADJ
cjfa-34397	133	14	information	information	NOUN
cjfa-34397	133	15	.	.	PUNCT
cjfa-34397	134	1	this	this	PRON
cjfa-34397	134	2	is	be	AUX
cjfa-34397	134	3	because	because	SCONJ
cjfa-34397	134	4	of	of	ADP
cjfa-34397	134	5	the	the	DET
cjfa-34397	134	6	assumption	assumption	NOUN
cjfa-34397	134	7	that	that	SCONJ
cjfa-34397	134	8	educated	educate	VERB
cjfa-34397	134	9	investors	investor	NOUN
cjfa-34397	134	10	who	who	PRON
cjfa-34397	134	11	have	have	VERB
cjfa-34397	134	12	similar	similar	ADJ
cjfa-34397	134	13	kind	kind	NOUN
cjfa-34397	134	14	of	of	ADP
cjfa-34397	134	15	information	information	NOUN
cjfa-34397	134	16	,	,	PUNCT
cjfa-34397	134	17	can	can	AUX
cjfa-34397	134	18	react	react	VERB
cjfa-34397	134	19	consequently	consequently	ADV
cjfa-34397	134	20	,	,	PUNCT
cjfa-34397	134	21	to	to	PART
cjfa-34397	134	22	get	get	VERB
cjfa-34397	134	23	the	the	DET
cjfa-34397	134	24	advantages	advantage	NOUN
cjfa-34397	134	25	out	out	ADP
cjfa-34397	134	26	of	of	ADP
cjfa-34397	134	27	the	the	DET
cjfa-34397	134	28	available	available	ADJ
cjfa-34397	134	29	information	information	NOUN
cjfa-34397	134	30	.	.	PUNCT
cjfa-34397	135	1	the	the	DET
cjfa-34397	135	2	conditional	conditional	ADJ
cjfa-34397	135	3	timing	timing	NOUN
cjfa-34397	135	4	ability	ability	NOUN
cjfa-34397	135	5	model	model	NOUN
cjfa-34397	135	6	assumes	assume	VERB
cjfa-34397	135	7	that	that	SCONJ
cjfa-34397	135	8	investment	investment	NOUN
cjfa-34397	135	9	managers	manager	NOUN
cjfa-34397	135	10	may	may	AUX
cjfa-34397	135	11	modify	modify	VERB
cjfa-34397	135	12	their	their	PRON
cjfa-34397	135	13	strategies	strategy	NOUN
cjfa-34397	135	14	over	over	ADP
cjfa-34397	135	15	a	a	DET
cjfa-34397	135	16	period	period	NOUN
cjfa-34397	135	17	based	base	VERB
cjfa-34397	135	18	on	on	ADP
cjfa-34397	135	19	the	the	DET
cjfa-34397	135	20	information	information	NOUN
cjfa-34397	135	21	accessible	accessible	ADJ
cjfa-34397	135	22	to	to	ADP
cjfa-34397	135	23	the	the	DET
cjfa-34397	135	24	public	public	NOUN
cjfa-34397	135	25	.	.	PUNCT
cjfa-34397	136	1	this	this	DET
cjfa-34397	136	2	study	study	NOUN
cjfa-34397	136	3	uses	use	VERB
cjfa-34397	136	4	six	six	NUM
cjfa-34397	136	5	forecasting	forecasting	NOUN
cjfa-34397	136	6	pivs	piv	VERB
cjfa-34397	136	7	,	,	PUNCT
cjfa-34397	136	8	which	which	PRON
cjfa-34397	136	9	are	be	AUX
cjfa-34397	136	10	well	well	ADV
cjfa-34397	136	11	documented	document	VERB
cjfa-34397	136	12	in	in	ADP
cjfa-34397	136	13	the	the	DET
cjfa-34397	136	14	existing	exist	VERB
cjfa-34397	136	15	literature	literature	NOUN
cjfa-34397	136	16	,	,	PUNCT
cjfa-34397	136	17	for	for	ADP
cjfa-34397	136	18	calculating	calculate	VERB
cjfa-34397	136	19	conditioning	conditioning	NOUN
cjfa-34397	136	20	alphas	alpha	NOUN
cjfa-34397	136	21	and	and	CCONJ
cjfa-34397	136	22	betas	beta	NOUN
cjfa-34397	136	23	.	.	PUNCT
cjfa-34397	137	1	these	these	DET
cjfa-34397	137	2	pivs	piv	VERB
cjfa-34397	137	3	are	be	AUX
cjfa-34397	137	4	proven	prove	VERB
cjfa-34397	137	5	to	to	PART
cjfa-34397	137	6	be	be	AUX
cjfa-34397	137	7	significant	significant	ADJ
cjfa-34397	137	8	in	in	ADP
cjfa-34397	137	9	many	many	ADJ
cjfa-34397	137	10	studies	study	NOUN
cjfa-34397	137	11	(	(	PUNCT
cjfa-34397	137	12	e.g.	e.g.	ADV
cjfa-34397	137	13	pesaran	pesaran	PROPN
cjfa-34397	137	14	&	&	CCONJ
cjfa-34397	137	15	timmermann	timmermann	PROPN
cjfa-34397	137	16	,	,	PUNCT
cjfa-34397	137	17	1995	1995	NUM
cjfa-34397	137	18	)	)	PUNCT
cjfa-34397	137	19	.	.	PUNCT
cjfa-34397	138	1	(	(	PUNCT
cjfa-34397	138	2	4	4	X
cjfa-34397	138	3	)	)	PUNCT
cjfa-34397	138	4	where	where	SCONJ
cjfa-34397	138	5	rp	rp	NOUN
cjfa-34397	138	6	,	,	PUNCT
cjfa-34397	138	7	rm	rm	PROPN
cjfa-34397	138	8	,	,	PUNCT
cjfa-34397	138	9	rf	rf	PROPN
cjfa-34397	138	10	 	 	SPACE
cjfa-34397	138	11	,	,	PUNCT
cjfa-34397	138	12	α	α	X
cjfa-34397	138	13	,	,	PUNCT
cjfa-34397	138	14	β	β	X
cjfa-34397	138	15	and	and	CCONJ
cjfa-34397	138	16	εp	εp	PROPN
cjfa-34397	138	17	are	be	AUX
cjfa-34397	138	18	citrus	citrus	NOUN
cjfa-34397	138	19	paribus	paribus	NOUN
cjfa-34397	138	20	as	as	ADP
cjfa-34397	138	21	(	(	PUNCT
cjfa-34397	138	22	3	3	NUM
cjfa-34397	138	23	)	)	PUNCT
cjfa-34397	138	24	,	,	PUNCT
cjfa-34397	138	25	d	d	PROPN
cjfa-34397	138	26	refers	refer	VERB
cjfa-34397	138	27	to	to	ADP
cjfa-34397	138	28	dummy	dummy	ADJ
cjfa-34397	138	29	variable	variable	NOUN
cjfa-34397	138	30	with	with	ADP
cjfa-34397	138	31	the	the	DET
cjfa-34397	138	32	value	value	NOUN
cjfa-34397	138	33	1	1	NUM
cjfa-34397	138	34	with	with	SCONJ
cjfa-34397	138	35	positive	positive	ADJ
cjfa-34397	138	36	excess	excess	ADJ
cjfa-34397	138	37	markets	market	NOUN
cjfa-34397	138	38	return	return	VERB
cjfa-34397	138	39	and	and	CCONJ
cjfa-34397	138	40	0	0	NUM
cjfa-34397	138	41	with	with	ADP
cjfa-34397	138	42	negative	negative	ADJ
cjfa-34397	138	43	market	market	NOUN
cjfa-34397	138	44	return	return	NOUN
cjfa-34397	138	45	.	.	PUNCT
cjfa-34397	139	1	the	the	DET
cjfa-34397	139	2	estimate	estimate	NOUN
cjfa-34397	139	3	γ	γ	NOUN
cjfa-34397	139	4	measures	measure	VERB
cjfa-34397	139	5	the	the	DET
cjfa-34397	139	6	difference	difference	NOUN
cjfa-34397	139	7	between	between	ADP
cjfa-34397	139	8	the	the	DET
cjfa-34397	139	9	bull	bull	NOUN
cjfa-34397	139	10	and	and	CCONJ
cjfa-34397	139	11	bear	bear	VERB
cjfa-34397	139	12	market	market	NOUN
cjfa-34397	139	13	βs	βs	NOUN
cjfa-34397	139	14	.	.	PUNCT
cjfa-34397	140	1	a	a	DET
cjfa-34397	140	2	positive	positive	ADJ
cjfa-34397	140	3	/	/	SYM
cjfa-34397	140	4	negative	negative	ADJ
cjfa-34397	140	5	significant	significant	ADJ
cjfa-34397	140	6	γ	γ	NOUN
cjfa-34397	140	7	refers	refer	VERB
cjfa-34397	140	8	to	to	ADP
cjfa-34397	140	9	that	that	SCONJ
cjfa-34397	140	10	the	the	DET
cjfa-34397	140	11	fund	fund	NOUN
cjfa-34397	140	12	manager	manager	NOUN
cjfa-34397	140	13	is	be	AUX
cjfa-34397	140	14	a	a	DET
cjfa-34397	140	15	successful	successful	ADJ
cjfa-34397	140	16	/	/	SYM
cjfa-34397	140	17	unsuccessful	unsuccessful	ADJ
cjfa-34397	140	18	macro	macro	ADJ
cjfa-34397	140	19	predictor	predictor	NOUN
cjfa-34397	140	20	and	and	CCONJ
cjfa-34397	140	21	market	market	NOUN
cjfa-34397	140	22	timer	timer	NOUN
cjfa-34397	140	23	.	.	PUNCT
cjfa-34397	141	1	conditional	conditional	ADJ
cjfa-34397	141	2	models	model	NOUN
cjfa-34397	141	3	of	of	ADP
cjfa-34397	141	4	market	market	NOUN
cjfa-34397	141	5	timing	timing	NOUN
cjfa-34397	141	6	ability	ability	NOUN
cjfa-34397	141	7	the	the	DET
cjfa-34397	141	8	conditional	conditional	ADJ
cjfa-34397	141	9	mta	mta	PROPN
cjfa-34397	141	10	model	model	NOUN
cjfa-34397	141	11	(	(	PUNCT
cjfa-34397	141	12	ferson	ferson	PROPN
cjfa-34397	141	13	&	&	CCONJ
cjfa-34397	141	14	warther	warther	PROPN
cjfa-34397	141	15	,	,	PUNCT
cjfa-34397	141	16	1996	1996	NUM
cjfa-34397	141	17	)	)	PUNCT
cjfa-34397	141	18	is	be	AUX
cjfa-34397	141	19	built	build	VERB
cjfa-34397	141	20	on	on	ADP
cjfa-34397	141	21	the	the	DET
cjfa-34397	141	22	understanding	understanding	NOUN
cjfa-34397	141	23	that	that	PRON
cjfa-34397	141	24	the	the	DET
cjfa-34397	141	25	jensen	jensen	PROPN
cjfa-34397	141	26	’s	’s	PART
cjfa-34397	141	27	alpha	alpha	NOUN
cjfa-34397	141	28	possesses	possess	VERB
cjfa-34397	141	29	the	the	DET
cjfa-34397	141	30	information	information	NOUN
cjfa-34397	141	31	of	of	ADP
cjfa-34397	141	32	public	public	ADJ
cjfa-34397	141	33	information	information	NOUN
cjfa-34397	141	34	variables	variable	NOUN
cjfa-34397	141	35	(	(	PUNCT
cjfa-34397	141	36	pivs	pivs	ADJ
cjfa-34397	141	37	)	)	PUNCT
cjfa-34397	141	38	.	.	PUNCT
cjfa-34397	142	1	this	this	DET
cjfa-34397	142	2	model	model	NOUN
cjfa-34397	142	3	assesses	assess	VERB
cjfa-34397	142	4	the	the	DET
cjfa-34397	142	5	ability	ability	NOUN
cjfa-34397	142	6	of	of	ADP
cjfa-34397	142	7	the	the	DET
cjfa-34397	142	8	managers	manager	NOUN
cjfa-34397	142	9	to	to	PART
cjfa-34397	142	10	capitalise	capitalise	VERB
cjfa-34397	142	11	the	the	DET
cjfa-34397	142	12	publicly	publicly	ADV
cjfa-34397	142	13	available	available	ADJ
cjfa-34397	142	14	information	information	NOUN
cjfa-34397	142	15	.	.	PUNCT
cjfa-34397	143	1	this	this	PRON
cjfa-34397	143	2	is	be	AUX
cjfa-34397	143	3	because	because	SCONJ
cjfa-34397	143	4	of	of	ADP
cjfa-34397	143	5	the	the	DET
cjfa-34397	143	6	assumption	assumption	NOUN
cjfa-34397	143	7	that	that	SCONJ
cjfa-34397	143	8	educated	educate	VERB
cjfa-34397	143	9	investors	investor	NOUN
cjfa-34397	143	10	who	who	PRON
cjfa-34397	143	11	have	have	VERB
cjfa-34397	143	12	similar	similar	ADJ
cjfa-34397	143	13	kind	kind	NOUN
cjfa-34397	143	14	of	of	ADP
cjfa-34397	143	15	information	information	NOUN
cjfa-34397	143	16	,	,	PUNCT
cjfa-34397	143	17	can	can	AUX
cjfa-34397	143	18	react	react	VERB
cjfa-34397	143	19	consequently	consequently	ADV
cjfa-34397	143	20	,	,	PUNCT
cjfa-34397	143	21	to	to	PART
cjfa-34397	143	22	get	get	VERB
cjfa-34397	143	23	the	the	DET
cjfa-34397	143	24	advantages	advantage	NOUN
cjfa-34397	143	25	out	out	ADP
cjfa-34397	143	26	of	of	ADP
cjfa-34397	143	27	the	the	DET
cjfa-34397	143	28	available	available	ADJ
cjfa-34397	143	29	information	information	NOUN
cjfa-34397	143	30	.	.	PUNCT
cjfa-34397	144	1	the	the	DET
cjfa-34397	144	2	conditional	conditional	ADJ
cjfa-34397	144	3	timing	timing	NOUN
cjfa-34397	144	4	ability	ability	NOUN
cjfa-34397	144	5	model	model	NOUN
cjfa-34397	144	6	assumes	assume	VERB
cjfa-34397	144	7	that	that	SCONJ
cjfa-34397	144	8	investment	investment	NOUN
cjfa-34397	144	9	managers	manager	NOUN
cjfa-34397	144	10	may	may	AUX
cjfa-34397	144	11	modify	modify	VERB
cjfa-34397	144	12	their	their	PRON
cjfa-34397	144	13	strategies	strategy	NOUN
cjfa-34397	144	14	over	over	ADP
cjfa-34397	144	15	a	a	DET
cjfa-34397	144	16	period	period	NOUN
cjfa-34397	144	17	based	base	VERB
cjfa-34397	144	18	on	on	ADP
cjfa-34397	144	19	the	the	DET
cjfa-34397	144	20	information	information	NOUN
cjfa-34397	144	21	accessible	accessible	ADJ
cjfa-34397	144	22	to	to	ADP
cjfa-34397	144	23	the	the	DET
cjfa-34397	144	24	public	public	NOUN
cjfa-34397	144	25	.	.	PUNCT
cjfa-34397	145	1	this	this	DET
cjfa-34397	145	2	study	study	NOUN
cjfa-34397	145	3	uses	use	VERB
cjfa-34397	145	4	six	six	NUM
cjfa-34397	145	5	forecasting	forecasting	NOUN
cjfa-34397	145	6	pivs	piv	VERB
cjfa-34397	145	7	,	,	PUNCT
cjfa-34397	145	8	which	which	PRON
cjfa-34397	145	9	are	be	AUX
cjfa-34397	145	10	well	well	ADV
cjfa-34397	145	11	documented	document	VERB
cjfa-34397	145	12	in	in	ADP
cjfa-34397	145	13	the	the	DET
cjfa-34397	145	14	existing	exist	VERB
cjfa-34397	145	15	literature	literature	NOUN
cjfa-34397	145	16	,	,	PUNCT
cjfa-34397	145	17	for	for	ADP
cjfa-34397	145	18	calculating	calculate	VERB
cjfa-34397	145	19	conditioning	conditioning	NOUN
cjfa-34397	145	20	alphas	alpha	NOUN
cjfa-34397	145	21	and	and	CCONJ
cjfa-34397	145	22	betas	beta	NOUN
cjfa-34397	145	23	.	.	PUNCT
cjfa-34397	146	1	these	these	DET
cjfa-34397	146	2	pivs	piv	VERB
cjfa-34397	146	3	are	be	AUX
cjfa-34397	146	4	proven	prove	VERB
cjfa-34397	146	5	to	to	PART
cjfa-34397	146	6	be	be	AUX
cjfa-34397	146	7	significant	significant	ADJ
cjfa-34397	146	8	in	in	ADP
cjfa-34397	146	9	many	many	ADJ
cjfa-34397	146	10	studies	study	NOUN
cjfa-34397	146	11	(	(	PUNCT
cjfa-34397	146	12	e.g.	e.g.	ADV
cjfa-34397	146	13	pesaran	pesaran	PROPN
cjfa-34397	146	14	&	&	CCONJ
cjfa-34397	146	15	timmermann	timmermann	PROPN
cjfa-34397	146	16	,	,	PUNCT
cjfa-34397	146	17	1995	1995	NUM
cjfa-34397	146	18	)	)	PUNCT
cjfa-34397	146	19	.	.	PUNCT
cjfa-34397	147	1	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	147	2	�	�	PROPN
cjfa-34397	147	3	−	−	PROPN
cjfa-34397	147	4	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	147	5	�	�	PROPN
cjfa-34397	147	6	=	=	SYM
cjfa-34397	147	7	 	 	SPACE
cjfa-34397	147	8	𝛼𝛼	𝛼𝛼	ADP
cjfa-34397	147	9	𝛼	𝛼	PRON
cjfa-34397	147	10	 	 	SPACE
cjfa-34397	147	11	𝛼𝛼	𝛼𝛼	ADP
cjfa-34397	147	12	�	�	PROPN
cjfa-34397	147	13	 	 	SPACE
cjfa-34397	147	14	�	�	PROPN
cjfa-34397	147	15	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	147	16	�	�	PROPN
cjfa-34397	147	17	−	−	PROPN
cjfa-34397	147	18	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	147	19	�	�	PROPN
cjfa-34397	147	20	�	�	PROPN
cjfa-34397	147	21	𝑇𝑇𝑇𝑇	𝑇𝑇𝑇𝑇	PROPN
cjfa-34397	147	22	�	�	PROPN
cjfa-34397	147	23	�	�	PROPN
cjfa-34397	147	24	�	�	PROPN
cjfa-34397	147	25	𝛼	𝛼	PROPN
cjfa-34397	147	26	𝛼𝛼	𝛼𝛼	ADP
cjfa-34397	147	27	�	�	PROPN
cjfa-34397	147	28	�	�	PROPN
cjfa-34397	147	29	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	147	30	�	�	PROPN
cjfa-34397	147	31	−	−	PROPN
cjfa-34397	147	32	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	147	33	�	�	PROPN
cjfa-34397	147	34	�	�	PROPN
cjfa-34397	147	35	𝐷𝐷𝐷𝐷	𝐷𝐷𝐷𝐷	PROPN
cjfa-34397	147	36	�	�	PROPN
cjfa-34397	147	37	�	�	PROPN
cjfa-34397	147	38	�	�	PROPN
cjfa-34397	147	39	𝛼	𝛼	PROPN
cjfa-34397	147	40	𝛼𝛼	𝛼𝛼	ADP
cjfa-34397	147	41	�	�	PROPN
cjfa-34397	147	42	�	�	PROPN
cjfa-34397	147	43	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	147	44	�	�	PROPN
cjfa-34397	147	45	−	−	PROPN
cjfa-34397	147	46	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	147	47	�	�	PROPN
cjfa-34397	147	48	�	�	PROPN
cjfa-34397	147	49	𝑇𝑇𝑇𝑇	𝑇𝑇𝑇𝑇	PROPN
cjfa-34397	147	50	�	�	PROPN
cjfa-34397	147	51	�	�	PROPN
cjfa-34397	147	52	�	�	PROPN
cjfa-34397	147	53	𝛼	𝛼	PROPN
cjfa-34397	147	54	𝛼𝛼	𝛼𝛼	ADP
cjfa-34397	147	55	�	�	PROPN
cjfa-34397	147	56	�	�	PROPN
cjfa-34397	147	57	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	147	58	�	�	PROPN
cjfa-34397	147	59	−	−	PROPN
cjfa-34397	147	60	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	147	61	�	�	PROPN
cjfa-34397	147	62	�	�	PROPN
cjfa-34397	147	63	𝑃𝑃𝑃𝑃	𝑃𝑃𝑃𝑃	PROPN
cjfa-34397	147	64	�	�	PROPN
cjfa-34397	147	65	�	�	PROPN
cjfa-34397	147	66	�	�	PROPN
cjfa-34397	147	67	𝛼	𝛼	PROPN
cjfa-34397	147	68	𝛼𝛼	𝛼𝛼	ADP
cjfa-34397	147	69	�	�	PROPN
cjfa-34397	147	70	�	�	PROPN
cjfa-34397	147	71	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	147	72	�	�	PROPN
cjfa-34397	147	73	−	−	PROPN
cjfa-34397	147	74	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	147	75	�	�	PROPN
cjfa-34397	147	76	�	�	PROPN
cjfa-34397	147	77	𝐹𝐹𝐹𝐹	𝐹𝐹𝐹𝐹	PROPN
cjfa-34397	147	78	�	�	PROPN
cjfa-34397	147	79	�	�	PROPN
cjfa-34397	147	80	�	�	PROPN
cjfa-34397	147	81	𝛼	𝛼	PROPN
cjfa-34397	147	82	𝛼𝛼	𝛼𝛼	ADP
cjfa-34397	147	83	�	�	PROPN
cjfa-34397	147	84	�	�	PROPN
cjfa-34397	147	85	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	147	86	�	�	PROPN
cjfa-34397	147	87	−	−	PROPN
cjfa-34397	147	88	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	147	89	�	�	PROPN
cjfa-34397	147	90	�	�	PROPN
cjfa-34397	147	91	𝐺𝐺𝑃𝑃	𝐺𝐺𝑃𝑃	PROPN
cjfa-34397	147	92	�	�	PROPN
cjfa-34397	147	93	�	�	PROPN
cjfa-34397	147	94	�	�	PROPN
cjfa-34397	147	95	𝛼	𝛼	PROPN
cjfa-34397	147	96	 	 	SPACE
cjfa-34397	147	97	𝛾𝛾	𝛾𝛾	PROPN
cjfa-34397	147	98	�	�	PROPN
cjfa-34397	147	99	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	147	100	�	�	PROPN
cjfa-34397	147	101	−	−	PROPN
cjfa-34397	147	102	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	147	103	�	�	PROPN
cjfa-34397	147	104	�	�	PROPN
cjfa-34397	147	105	�	�	PROPN
cjfa-34397	147	106	𝛼	𝛼	PROPN
cjfa-34397	147	107	𝜀𝜀	𝜀𝜀	PRON
cjfa-34397	147	108	�	�	PROPN
cjfa-34397	147	109	  	  	SPACE
cjfa-34397	147	110	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	147	111	�	�	PROPN
cjfa-34397	147	112	−	−	PROPN
cjfa-34397	147	113	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	147	114	�	�	PROPN
cjfa-34397	147	115	=	=	SYM
cjfa-34397	147	116	 	 	SPACE
cjfa-34397	148	1	𝛼𝛼	𝛼𝛼	ADP
cjfa-34397	148	2	𝛼	𝛼	PRON
cjfa-34397	148	3	 	 	SPACE
cjfa-34397	148	4	𝛼𝛼	𝛼𝛼	ADP
cjfa-34397	148	5	�	�	PROPN
cjfa-34397	148	6	 	 	SPACE
cjfa-34397	148	7	�	�	PROPN
cjfa-34397	148	8	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	148	9	�	�	PROPN
cjfa-34397	148	10	−	−	PROPN
cjfa-34397	148	11	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	148	12	�	�	PROPN
cjfa-34397	148	13	�	�	PROPN
cjfa-34397	148	14	𝛼	𝛼	PROPN
cjfa-34397	148	15	𝛼𝛼	𝛼𝛼	ADP
cjfa-34397	148	16	�	�	PROPN
cjfa-34397	148	17	�	�	PROPN
cjfa-34397	148	18	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	148	19	�	�	PROPN
cjfa-34397	148	20	−	−	PROPN
cjfa-34397	148	21	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	148	22	�	�	PROPN
cjfa-34397	148	23	�	�	PROPN
cjfa-34397	148	24	𝑇𝑇𝑇𝑇	𝑇𝑇𝑇𝑇	PROPN
cjfa-34397	148	25	�	�	PROPN
cjfa-34397	148	26	�	�	PROPN
cjfa-34397	148	27	�	�	PROPN
cjfa-34397	148	28	𝛼	𝛼	PROPN
cjfa-34397	148	29	𝛼𝛼	𝛼𝛼	ADP
cjfa-34397	148	30	�	�	PROPN
cjfa-34397	148	31	�	�	PROPN
cjfa-34397	148	32	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	148	33	�	�	PROPN
cjfa-34397	148	34	−	−	PROPN
cjfa-34397	148	35	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	148	36	�	�	PROPN
cjfa-34397	148	37	�	�	PROPN
cjfa-34397	148	38	𝐷𝐷𝐷𝐷	𝐷𝐷𝐷𝐷	PROPN
cjfa-34397	148	39	�	�	PROPN
cjfa-34397	148	40	�	�	PROPN
cjfa-34397	148	41	�	�	PROPN
cjfa-34397	148	42	𝛼	𝛼	PROPN
cjfa-34397	148	43	𝛼𝛼	𝛼𝛼	ADP
cjfa-34397	148	44	�	�	PROPN
cjfa-34397	148	45	�	�	PROPN
cjfa-34397	148	46	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	148	47	�	�	PROPN
cjfa-34397	148	48	−	−	PROPN
cjfa-34397	148	49	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	148	50	�	�	PROPN
cjfa-34397	148	51	�	�	PROPN
cjfa-34397	148	52	𝑇𝑇𝑇𝑇	𝑇𝑇𝑇𝑇	PROPN
cjfa-34397	148	53	�	�	PROPN
cjfa-34397	148	54	�	�	PROPN
cjfa-34397	148	55	�	�	PROPN
cjfa-34397	148	56	𝛼	𝛼	PROPN
cjfa-34397	148	57	𝛼𝛼	𝛼𝛼	ADP
cjfa-34397	148	58	�	�	PROPN
cjfa-34397	148	59	�	�	PROPN
cjfa-34397	148	60	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	148	61	�	�	PROPN
cjfa-34397	148	62	−	−	PROPN
cjfa-34397	148	63	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	148	64	�	�	PROPN
cjfa-34397	148	65	�	�	PROPN
cjfa-34397	148	66	𝑃𝑃𝑃𝑃	𝑃𝑃𝑃𝑃	PROPN
cjfa-34397	148	67	�	�	PROPN
cjfa-34397	148	68	�	�	PROPN
cjfa-34397	148	69	�	�	PROPN
cjfa-34397	148	70	𝛼	𝛼	PROPN
cjfa-34397	148	71	𝛼𝛼	𝛼𝛼	ADP
cjfa-34397	148	72	�	�	PROPN
cjfa-34397	148	73	�	�	PROPN
cjfa-34397	148	74	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	148	75	�	�	PROPN
cjfa-34397	148	76	−	−	PROPN
cjfa-34397	148	77	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	148	78	�	�	PROPN
cjfa-34397	148	79	�	�	PROPN
cjfa-34397	148	80	𝐹𝐹𝐹𝐹	𝐹𝐹𝐹𝐹	PROPN
cjfa-34397	148	81	�	�	PROPN
cjfa-34397	148	82	�	�	PROPN
cjfa-34397	148	83	�	�	PROPN
cjfa-34397	148	84	𝛼	𝛼	PROPN
cjfa-34397	148	85	𝛼𝛼	𝛼𝛼	ADP
cjfa-34397	148	86	�	�	PROPN
cjfa-34397	148	87	�	�	PROPN
cjfa-34397	148	88	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	148	89	�	�	PROPN
cjfa-34397	148	90	−	−	PROPN
cjfa-34397	148	91	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	148	92	�	�	PROPN
cjfa-34397	148	93	�	�	PROPN
cjfa-34397	148	94	𝐺𝐺𝑃𝑃	𝐺𝐺𝑃𝑃	PROPN
cjfa-34397	148	95	�	�	PROPN
cjfa-34397	148	96	�	�	PROPN
cjfa-34397	148	97	�	�	PROPN
cjfa-34397	148	98	𝛼	𝛼	PRON
cjfa-34397	148	99	 	 	SPACE
cjfa-34397	148	100	𝛾𝛾	𝛾𝛾	PROPN
cjfa-34397	148	101	 	 	SPACE
cjfa-34397	148	102	𝐷𝐷	𝐷𝐷	PROPN
cjfa-34397	148	103	�	�	PROPN
cjfa-34397	148	104	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	148	105	�	�	PROPN
cjfa-34397	148	106	−	−	PROPN
cjfa-34397	148	107	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	148	108	�	�	PROPN
cjfa-34397	148	109	�	�	PROPN
cjfa-34397	148	110	𝛼	𝛼	PROPN
cjfa-34397	148	111	𝜀𝜀	𝜀𝜀	PROPN
cjfa-34397	148	112	�	�	NOUN
cjfa-34397	148	113	       	       	SPACE
cjfa-34397	148	114	the	the	DET
cjfa-34397	148	115	conditional	conditional	ADJ
cjfa-34397	148	116	tm	tm	PROPN
cjfa-34397	148	117	model	model	NOUN
cjfa-34397	148	118	and	and	CCONJ
cjfa-34397	148	119	the	the	DET
cjfa-34397	148	120	conditional	conditional	ADJ
cjfa-34397	148	121	hm	hm	INTJ
cjfa-34397	148	122	model	model	NOUN
cjfa-34397	148	123	are	be	AUX
cjfa-34397	148	124	represented	represent	VERB
cjfa-34397	148	125	by	by	ADP
cjfa-34397	148	126	(	(	PUNCT
cjfa-34397	148	127	5	5	NUM
cjfa-34397	148	128	)	)	PUNCT
cjfa-34397	148	129	and	and	CCONJ
cjfa-34397	148	130	(	(	PUNCT
cjfa-34397	148	131	6	6	NUM
cjfa-34397	148	132	)	)	PUNCT
cjfa-34397	148	133	respectively	respectively	ADV
cjfa-34397	148	134	,	,	PUNCT
cjfa-34397	148	135	where	where	SCONJ
cjfa-34397	148	136	,	,	PUNCT
cjfa-34397	148	137	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	148	138	�	�	PROPN
cjfa-34397	148	139	,	,	PUNCT
cjfa-34397	148	140	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	148	141	�	�	PROPN
cjfa-34397	148	142	,	,	PUNCT
cjfa-34397	148	143	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	148	144	�	�	PROPN
cjfa-34397	148	145	,	,	PUNCT
cjfa-34397	148	146	𝛼𝛼	𝛼𝛼	ADP
cjfa-34397	148	147	,	,	PUNCT
cjfa-34397	148	148	𝛼𝛼	𝛼𝛼	ADP
cjfa-34397	148	149	,	,	PUNCT
cjfa-34397	148	150	and	and	CCONJ
cjfa-34397	148	151	𝜀𝜀	𝜀𝜀	PRON
cjfa-34397	148	152	�	�	PROPN
cjfa-34397	148	153	are	be	AUX
cjfa-34397	148	154	citrus	citrus	NOUN
cjfa-34397	148	155	paribus	paribus	NOUN
cjfa-34397	148	156	as	as	ADP
cjfa-34397	148	157	(	(	PUNCT
cjfa-34397	148	158	3	3	NUM
cjfa-34397	148	159	)	)	PUNCT
cjfa-34397	148	160	,	,	PUNCT
cjfa-34397	148	161	𝑇𝑇𝑇𝑇	𝑇𝑇𝑇𝑇	PROPN
cjfa-34397	148	162	�	�	PROPN
cjfa-34397	148	163	�	�	PROPN
cjfa-34397	148	164	�	�	PROPN
cjfa-34397	148	165	refers	refer	VERB
cjfa-34397	148	166	yield	yield	NOUN
cjfa-34397	148	167	on	on	ADP
cjfa-34397	148	168	91day	91day	ADJ
cjfa-34397	148	169	treasury	treasury	NOUN
cjfa-34397	148	170	bill	bill	NOUN
cjfa-34397	148	171	rates	rate	NOUN
cjfa-34397	148	172	;	;	PUNCT
cjfa-34397	148	173	𝐷𝐷𝐷𝐷	𝐷𝐷𝐷𝐷	PROPN
cjfa-34397	148	174	�	�	PROPN
cjfa-34397	148	175	�	�	PROPN
cjfa-34397	148	176	�	�	PROPN
cjfa-34397	148	177	is	be	AUX
cjfa-34397	148	178	the	the	DET
cjfa-34397	148	179	dividend	dividend	NOUN
cjfa-34397	148	180	yield	yield	NOUN
cjfa-34397	148	181	on	on	ADP
cjfa-34397	148	182	cnx	cnx	PROPN
cjfa-34397	148	183	500	500	NUM
cjfa-34397	148	184	market	market	NOUN
cjfa-34397	148	185	index	index	NOUN
cjfa-34397	148	186	;	;	PUNCT
cjfa-34397	148	187	𝑇𝑇𝑇𝑇	𝑇𝑇𝑇𝑇	PROPN
cjfa-34397	148	188	�	�	PROPN
cjfa-34397	148	189	�	�	PROPN
cjfa-34397	148	190	�	�	PROPN
cjfa-34397	148	191	denotes	denote	NOUN
cjfa-34397	148	192	term	term	NOUN
cjfa-34397	148	193	structure	structure	NOUN
cjfa-34397	148	194	rates	rate	NOUN
cjfa-34397	148	195	;	;	PUNCT
cjfa-34397	148	196	𝑃𝑃𝑃𝑃	𝑃𝑃𝑃𝑃	PROPN
cjfa-34397	148	197	�	�	PROPN
cjfa-34397	148	198	�	�	PROPN
cjfa-34397	148	199	�	�	PROPN
cjfa-34397	148	200	indicates	indicate	VERB
cjfa-34397	148	201	price	price	NOUN
cjfa-34397	148	202	-	-	PUNCT
cjfa-34397	148	203	to	to	ADP
cjfa-34397	148	204	-	-	PUNCT
cjfa-34397	148	205	earnings	earning	NOUN
cjfa-34397	148	206	ratio	ratio	NOUN
cjfa-34397	148	207	;	;	PUNCT
cjfa-34397	148	208	and	and	CCONJ
cjfa-34397	148	209	𝐹𝐹𝐹𝐹	𝐹𝐹𝐹𝐹	PROPN
cjfa-34397	148	210	�	�	PROPN
cjfa-34397	148	211	�	�	PROPN
cjfa-34397	148	212	�	�	PROPN
cjfa-34397	148	213	refers	refer	VERB
cjfa-34397	148	214	yield	yield	NOUN
cjfa-34397	148	215	on	on	ADP
cjfa-34397	148	216	foreign	foreign	ADJ
cjfa-34397	148	217	exchange	exchange	NOUN
cjfa-34397	148	218	rates	rate	NOUN
cjfa-34397	148	219	.	.	PUNCT
cjfa-34397	149	1	empirical	empirical	ADJ
cjfa-34397	149	2	results	result	NOUN
cjfa-34397	149	3	table	table	NOUN
cjfa-34397	149	4	1	1	NUM
cjfa-34397	149	5	exhibits	exhibit	VERB
cjfa-34397	149	6	the	the	DET
cjfa-34397	149	7	summary	summary	NOUN
cjfa-34397	149	8	of	of	ADP
cjfa-34397	149	9	funds	fund	NOUN
cjfa-34397	149	10	with	with	ADP
cjfa-34397	149	11	positive	positive	ADJ
cjfa-34397	149	12	and	and	CCONJ
cjfa-34397	149	13	negative	negative	ADJ
cjfa-34397	149	14	γ	γ	NOUN
cjfa-34397	149	15	estimate	estimate	NOUN
cjfa-34397	149	16	as	as	ADP
cjfa-34397	149	17	per	per	ADP
cjfa-34397	149	18	the	the	DET
cjfa-34397	149	19	unconditional	unconditional	ADJ
cjfa-34397	149	20	and	and	CCONJ
cjfa-34397	149	21	conditional	conditional	ADJ
cjfa-34397	149	22	models	model	NOUN
cjfa-34397	149	23	.	.	PUNCT
cjfa-34397	150	1	table	table	NOUN
cjfa-34397	150	2	1	1	NUM
cjfa-34397	150	3	.	.	PUNCT
cjfa-34397	151	1	funds	fund	NOUN
cjfa-34397	151	2	with	with	ADP
cjfa-34397	151	3	positive	positive	ADJ
cjfa-34397	151	4	and	and	CCONJ
cjfa-34397	151	5	negative	negative	ADJ
cjfa-34397	151	6	γ	γ	NOUN
cjfa-34397	151	7	number	number	NOUN
cjfa-34397	151	8	of	of	ADP
cjfa-34397	151	9	funds	fund	NOUN
cjfa-34397	151	10	significant	significant	ADJ
cjfa-34397	151	11	insignificant	insignificant	ADJ
cjfa-34397	151	12	positives	positive	NOUN
cjfa-34397	151	13	negatives	negative	NOUN
cjfa-34397	151	14	positives	positive	NOUN
cjfa-34397	151	15	negatives	negative	NOUN
cjfa-34397	151	16	positives	positive	NOUN
cjfa-34397	151	17	negatives	negative	NOUN
cjfa-34397	151	18	treynor	treynor	NOUN
cjfa-34397	151	19	&	&	CCONJ
cjfa-34397	151	20	mazuy	mazuy	PROPN
cjfa-34397	151	21	unconditional	unconditional	ADJ
cjfa-34397	151	22	model	model	NOUN
cjfa-34397	151	23	131	131	NUM
cjfa-34397	151	24	40	40	NUM
cjfa-34397	151	25	79	79	NUM
cjfa-34397	151	26	3	3	NUM
cjfa-34397	151	27	52	52	NUM
cjfa-34397	151	28	37	37	NUM
cjfa-34397	151	29	conditional	conditional	ADJ
cjfa-34397	151	30	model	model	NOUN
cjfa-34397	151	31	118	118	NUM
cjfa-34397	151	32	53	53	NUM
cjfa-34397	151	33	67	67	NUM
cjfa-34397	151	34	3	3	NUM
cjfa-34397	151	35	51	51	NUM
cjfa-34397	151	36	50	50	NUM
cjfa-34397	151	37	henriksson	henriksson	NOUN
cjfa-34397	151	38	&	&	CCONJ
cjfa-34397	151	39	merton	merton	PROPN
cjfa-34397	151	40	unconditional	unconditional	ADJ
cjfa-34397	151	41	model	model	NOUN
cjfa-34397	151	42	133	133	NUM
cjfa-34397	151	43	38	38	NUM
cjfa-34397	151	44	75	75	NUM
cjfa-34397	151	45	3	3	NUM
cjfa-34397	151	46	58	58	NUM
cjfa-34397	151	47	35	35	NUM
cjfa-34397	151	48	conditional	conditional	ADJ
cjfa-34397	151	49	model	model	NOUN
cjfa-34397	151	50	120	120	NUM
cjfa-34397	151	51	51	51	NUM
cjfa-34397	151	52	65	65	NUM
cjfa-34397	151	53	3	3	NUM
cjfa-34397	151	54	55	55	NUM
cjfa-34397	151	55	48	48	NUM
cjfa-34397	151	56	source	source	NOUN
cjfa-34397	151	57	:	:	PUNCT
cjfa-34397	151	58	authors	author	NOUN
cjfa-34397	151	59	’	'	PUNCT
cjfa-34397	151	60	calculations	calculation	NOUN
cjfa-34397	151	61	.	.	PUNCT
cjfa-34397	152	1	the	the	DET
cjfa-34397	152	2	unconditional	unconditional	ADJ
cjfa-34397	152	3	tm	tm	PROPN
cjfa-34397	152	4	model	model	NOUN
cjfa-34397	152	5	reveals	reveal	VERB
cjfa-34397	152	6	that	that	SCONJ
cjfa-34397	152	7	out	out	ADP
cjfa-34397	152	8	of	of	ADP
cjfa-34397	152	9	171	171	NUM
cjfa-34397	152	10	funds	fund	NOUN
cjfa-34397	152	11	,	,	PUNCT
cjfa-34397	152	12	79	79	NUM
cjfa-34397	152	13	funds	fund	NOUN
cjfa-34397	152	14	show	show	VERB
cjfa-34397	152	15	significant	significant	ADJ
cjfa-34397	152	16	(	(	PUNCT
cjfa-34397	152	17	p	p	X
cjfa-34397	152	18	=	=	NOUN
cjfa-34397	152	19	0.05	0.05	NUM
cjfa-34397	152	20	)	)	PUNCT
cjfa-34397	152	21	positive	positive	ADJ
cjfa-34397	152	22	γ	γ	NOUN
cjfa-34397	152	23	estimate	estimate	NOUN
cjfa-34397	152	24	,	,	PUNCT
cjfa-34397	152	25	which	which	PRON
cjfa-34397	152	26	means	mean	VERB
cjfa-34397	152	27	that	that	SCONJ
cjfa-34397	152	28	there	there	PRON
cjfa-34397	152	29	is	be	VERB
cjfa-34397	152	30	46	46	NUM
cjfa-34397	152	31	per	per	ADP
cjfa-34397	152	32	cent	cent	NOUN
cjfa-34397	152	33	of	of	ADP
cjfa-34397	152	34	fund	fund	NOUN
cjfa-34397	152	35	managers	manager	NOUN
cjfa-34397	152	36	outperform	outperform	VERB
cjfa-34397	152	37	the	the	DET
cjfa-34397	152	38	market	market	NOUN
cjfa-34397	152	39	with	with	ADP
cjfa-34397	152	40	significant	significant	ADJ
cjfa-34397	152	41	market	market	NOUN
cjfa-34397	152	42	timing	timing	NOUN
cjfa-34397	152	43	ability	ability	NOUN
cjfa-34397	152	44	.	.	PUNCT
cjfa-34397	153	1	only	only	ADV
cjfa-34397	153	2	three	three	NUM
cjfa-34397	153	3	funds	fund	NOUN
cjfa-34397	153	4	exhibit	exhibit	VERB
cjfa-34397	153	5	negative	negative	ADJ
cjfa-34397	153	6	significant	significant	ADJ
cjfa-34397	153	7	negative	negative	ADJ
cjfa-34397	153	8	estimate	estimate	NOUN
cjfa-34397	153	9	for	for	ADP
cjfa-34397	153	10	mta	mta	PROPN
cjfa-34397	153	11	factor	factor	NOUN
cjfa-34397	153	12	.	.	PUNCT
cjfa-34397	154	1	(	(	PUNCT
cjfa-34397	154	2	5	5	X
cjfa-34397	154	3	)	)	PUNCT
cjfa-34397	154	4	market	market	NOUN
cjfa-34397	154	5	timing	timing	NOUN
cjfa-34397	154	6	abilities	ability	NOUN
cjfa-34397	154	7	of	of	ADP
cjfa-34397	154	8	large	large	ADJ
cjfa-34397	154	9	-	-	PUNCT
cjfa-34397	154	10	cap	cap	NOUN
cjfa-34397	154	11	equity	equity	NOUN
cjfa-34397	154	12	mutual	mutual	ADJ
cjfa-34397	154	13	fund	fund	NOUN
cjfa-34397	154	14	managers	manager	NOUN
cjfa-34397	154	15	…	…	PUNCT
cjfa-34397	155	1	93	93	NUM
cjfa-34397	155	2	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	155	3	�	�	PROPN
cjfa-34397	155	4	−	−	PROPN
cjfa-34397	155	5	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	155	6	�	�	PROPN
cjfa-34397	155	7	=	=	SYM
cjfa-34397	155	8	 	 	SPACE
cjfa-34397	155	9	𝛼𝛼	𝛼𝛼	ADP
cjfa-34397	155	10	𝛼	𝛼	PRON
cjfa-34397	155	11	 	 	SPACE
cjfa-34397	155	12	𝛼𝛼	𝛼𝛼	ADP
cjfa-34397	155	13	�	�	PROPN
cjfa-34397	155	14	 	 	SPACE
cjfa-34397	155	15	�	�	PROPN
cjfa-34397	155	16	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	155	17	�	�	PROPN
cjfa-34397	155	18	−	−	PROPN
cjfa-34397	155	19	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	155	20	�	�	PROPN
cjfa-34397	155	21	�	�	PROPN
cjfa-34397	155	22	𝑇𝑇𝑇𝑇	𝑇𝑇𝑇𝑇	PROPN
cjfa-34397	155	23	�	�	PROPN
cjfa-34397	155	24	�	�	PROPN
cjfa-34397	155	25	�	�	PROPN
cjfa-34397	155	26	𝛼	𝛼	PROPN
cjfa-34397	155	27	𝛼𝛼	𝛼𝛼	ADP
cjfa-34397	155	28	�	�	PROPN
cjfa-34397	155	29	�	�	PROPN
cjfa-34397	155	30	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	155	31	�	�	PROPN
cjfa-34397	155	32	−	−	PROPN
cjfa-34397	155	33	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	155	34	�	�	PROPN
cjfa-34397	155	35	�	�	PROPN
cjfa-34397	155	36	𝐷𝐷𝐷𝐷	𝐷𝐷𝐷𝐷	PROPN
cjfa-34397	155	37	�	�	PROPN
cjfa-34397	155	38	�	�	PROPN
cjfa-34397	155	39	�	�	PROPN
cjfa-34397	155	40	𝛼	𝛼	PROPN
cjfa-34397	155	41	𝛼𝛼	𝛼𝛼	ADP
cjfa-34397	155	42	�	�	PROPN
cjfa-34397	155	43	�	�	PROPN
cjfa-34397	155	44	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	155	45	�	�	PROPN
cjfa-34397	155	46	−	−	PROPN
cjfa-34397	155	47	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	155	48	�	�	PROPN
cjfa-34397	155	49	�	�	PROPN
cjfa-34397	155	50	𝑇𝑇𝑇𝑇	𝑇𝑇𝑇𝑇	PROPN
cjfa-34397	155	51	�	�	PROPN
cjfa-34397	155	52	�	�	PROPN
cjfa-34397	155	53	�	�	PROPN
cjfa-34397	155	54	𝛼	𝛼	PROPN
cjfa-34397	155	55	𝛼𝛼	𝛼𝛼	ADP
cjfa-34397	155	56	�	�	PROPN
cjfa-34397	155	57	�	�	PROPN
cjfa-34397	155	58	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	155	59	�	�	PROPN
cjfa-34397	155	60	−	−	PROPN
cjfa-34397	155	61	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	155	62	�	�	PROPN
cjfa-34397	155	63	�	�	PROPN
cjfa-34397	155	64	𝑃𝑃𝑃𝑃	𝑃𝑃𝑃𝑃	PROPN
cjfa-34397	155	65	�	�	PROPN
cjfa-34397	155	66	�	�	PROPN
cjfa-34397	155	67	�	�	PROPN
cjfa-34397	155	68	𝛼	𝛼	PROPN
cjfa-34397	155	69	𝛼𝛼	𝛼𝛼	ADP
cjfa-34397	155	70	�	�	PROPN
cjfa-34397	155	71	�	�	PROPN
cjfa-34397	155	72	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	155	73	�	�	PROPN
cjfa-34397	155	74	−	−	PROPN
cjfa-34397	155	75	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	155	76	�	�	PROPN
cjfa-34397	155	77	�	�	PROPN
cjfa-34397	155	78	𝐹𝐹𝐹𝐹	𝐹𝐹𝐹𝐹	PROPN
cjfa-34397	155	79	�	�	PROPN
cjfa-34397	155	80	�	�	PROPN
cjfa-34397	155	81	�	�	PROPN
cjfa-34397	155	82	𝛼	𝛼	PROPN
cjfa-34397	155	83	𝛼𝛼	𝛼𝛼	ADP
cjfa-34397	155	84	�	�	PROPN
cjfa-34397	155	85	�	�	PROPN
cjfa-34397	155	86	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	155	87	�	�	PROPN
cjfa-34397	155	88	−	−	PROPN
cjfa-34397	155	89	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	155	90	�	�	PROPN
cjfa-34397	155	91	�	�	PROPN
cjfa-34397	155	92	𝐺𝐺𝑃𝑃	𝐺𝐺𝑃𝑃	PROPN
cjfa-34397	155	93	�	�	PROPN
cjfa-34397	155	94	�	�	PROPN
cjfa-34397	155	95	�	�	PROPN
cjfa-34397	155	96	𝛼	𝛼	PROPN
cjfa-34397	155	97	 	 	SPACE
cjfa-34397	155	98	𝛾𝛾	𝛾𝛾	PROPN
cjfa-34397	155	99	�	�	PROPN
cjfa-34397	155	100	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	155	101	�	�	PROPN
cjfa-34397	155	102	−	−	PROPN
cjfa-34397	155	103	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	155	104	�	�	PROPN
cjfa-34397	155	105	�	�	PROPN
cjfa-34397	155	106	�	�	PROPN
cjfa-34397	155	107	𝛼	𝛼	PROPN
cjfa-34397	155	108	𝜀𝜀	𝜀𝜀	PRON
cjfa-34397	155	109	�	�	PROPN
cjfa-34397	155	110	  	  	SPACE
cjfa-34397	155	111	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	155	112	�	�	PROPN
cjfa-34397	155	113	−	−	PROPN
cjfa-34397	155	114	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	155	115	�	�	PROPN
cjfa-34397	155	116	=	=	SYM
cjfa-34397	155	117	 	 	SPACE
cjfa-34397	155	118	𝛼𝛼	𝛼𝛼	ADP
cjfa-34397	155	119	𝛼	𝛼	PRON
cjfa-34397	155	120	 	 	SPACE
cjfa-34397	155	121	𝛼𝛼	𝛼𝛼	ADP
cjfa-34397	155	122	�	�	PROPN
cjfa-34397	155	123	 	 	SPACE
cjfa-34397	155	124	�	�	PROPN
cjfa-34397	155	125	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	155	126	�	�	PROPN
cjfa-34397	155	127	−	−	PROPN
cjfa-34397	155	128	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	155	129	�	�	PROPN
cjfa-34397	155	130	�	�	PROPN
cjfa-34397	155	131	𝛼	𝛼	PROPN
cjfa-34397	155	132	𝛼𝛼	𝛼𝛼	ADP
cjfa-34397	155	133	�	�	PROPN
cjfa-34397	155	134	�	�	PROPN
cjfa-34397	155	135	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	155	136	�	�	PROPN
cjfa-34397	155	137	−	−	PROPN
cjfa-34397	155	138	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	155	139	�	�	PROPN
cjfa-34397	155	140	�	�	PROPN
cjfa-34397	155	141	𝑇𝑇𝑇𝑇	𝑇𝑇𝑇𝑇	PROPN
cjfa-34397	155	142	�	�	PROPN
cjfa-34397	155	143	�	�	PROPN
cjfa-34397	155	144	�	�	PROPN
cjfa-34397	155	145	𝛼	𝛼	PROPN
cjfa-34397	155	146	𝛼𝛼	𝛼𝛼	ADP
cjfa-34397	155	147	�	�	PROPN
cjfa-34397	155	148	�	�	PROPN
cjfa-34397	155	149	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	155	150	�	�	PROPN
cjfa-34397	155	151	−	−	PROPN
cjfa-34397	155	152	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	155	153	�	�	PROPN
cjfa-34397	155	154	�	�	PROPN
cjfa-34397	155	155	𝐷𝐷𝐷𝐷	𝐷𝐷𝐷𝐷	PROPN
cjfa-34397	155	156	�	�	PROPN
cjfa-34397	155	157	�	�	PROPN
cjfa-34397	155	158	�	�	PROPN
cjfa-34397	155	159	𝛼	𝛼	PROPN
cjfa-34397	155	160	𝛼𝛼	𝛼𝛼	ADP
cjfa-34397	155	161	�	�	PROPN
cjfa-34397	155	162	�	�	PROPN
cjfa-34397	155	163	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	155	164	�	�	PROPN
cjfa-34397	155	165	−	−	PROPN
cjfa-34397	155	166	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	155	167	�	�	PROPN
cjfa-34397	155	168	�	�	PROPN
cjfa-34397	155	169	𝑇𝑇𝑇𝑇	𝑇𝑇𝑇𝑇	PROPN
cjfa-34397	155	170	�	�	PROPN
cjfa-34397	155	171	�	�	PROPN
cjfa-34397	155	172	�	�	PROPN
cjfa-34397	155	173	𝛼	𝛼	PROPN
cjfa-34397	155	174	𝛼𝛼	𝛼𝛼	ADP
cjfa-34397	155	175	�	�	PROPN
cjfa-34397	155	176	�	�	PROPN
cjfa-34397	155	177	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	155	178	�	�	PROPN
cjfa-34397	155	179	−	−	PROPN
cjfa-34397	155	180	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	155	181	�	�	PROPN
cjfa-34397	155	182	�	�	PROPN
cjfa-34397	155	183	𝑃𝑃𝑃𝑃	𝑃𝑃𝑃𝑃	PROPN
cjfa-34397	155	184	�	�	PROPN
cjfa-34397	155	185	�	�	PROPN
cjfa-34397	155	186	�	�	PROPN
cjfa-34397	155	187	𝛼	𝛼	PROPN
cjfa-34397	155	188	𝛼𝛼	𝛼𝛼	ADP
cjfa-34397	155	189	�	�	PROPN
cjfa-34397	155	190	�	�	PROPN
cjfa-34397	155	191	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	155	192	�	�	PROPN
cjfa-34397	155	193	−	−	PROPN
cjfa-34397	155	194	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	155	195	�	�	PROPN
cjfa-34397	155	196	�	�	PROPN
cjfa-34397	155	197	𝐹𝐹𝐹𝐹	𝐹𝐹𝐹𝐹	PROPN
cjfa-34397	155	198	�	�	PROPN
cjfa-34397	155	199	�	�	PROPN
cjfa-34397	155	200	�	�	PROPN
cjfa-34397	155	201	𝛼	𝛼	PROPN
cjfa-34397	155	202	𝛼𝛼	𝛼𝛼	ADP
cjfa-34397	155	203	�	�	PROPN
cjfa-34397	155	204	�	�	PROPN
cjfa-34397	155	205	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	155	206	�	�	PROPN
cjfa-34397	155	207	−	−	PROPN
cjfa-34397	155	208	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	155	209	�	�	PROPN
cjfa-34397	155	210	�	�	PROPN
cjfa-34397	155	211	𝐺𝐺𝑃𝑃	𝐺𝐺𝑃𝑃	PROPN
cjfa-34397	155	212	�	�	PROPN
cjfa-34397	155	213	�	�	PROPN
cjfa-34397	155	214	�	�	PROPN
cjfa-34397	155	215	𝛼	𝛼	PRON
cjfa-34397	155	216	 	 	SPACE
cjfa-34397	155	217	𝛾𝛾	𝛾𝛾	PROPN
cjfa-34397	155	218	 	 	SPACE
cjfa-34397	155	219	𝐷𝐷	𝐷𝐷	PROPN
cjfa-34397	155	220	�	�	PROPN
cjfa-34397	155	221	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	155	222	�	�	PROPN
cjfa-34397	155	223	−	−	PROPN
cjfa-34397	155	224	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	155	225	�	�	PROPN
cjfa-34397	155	226	�	�	PROPN
cjfa-34397	155	227	𝛼	𝛼	PROPN
cjfa-34397	155	228	𝜀𝜀	𝜀𝜀	PROPN
cjfa-34397	155	229	�	�	NOUN
cjfa-34397	155	230	       	       	SPACE
cjfa-34397	155	231	the	the	DET
cjfa-34397	155	232	conditional	conditional	ADJ
cjfa-34397	155	233	tm	tm	PROPN
cjfa-34397	155	234	model	model	NOUN
cjfa-34397	155	235	and	and	CCONJ
cjfa-34397	155	236	the	the	DET
cjfa-34397	155	237	conditional	conditional	ADJ
cjfa-34397	155	238	hm	hm	INTJ
cjfa-34397	155	239	model	model	NOUN
cjfa-34397	155	240	are	be	AUX
cjfa-34397	155	241	represented	represent	VERB
cjfa-34397	155	242	by	by	ADP
cjfa-34397	155	243	(	(	PUNCT
cjfa-34397	155	244	5	5	NUM
cjfa-34397	155	245	)	)	PUNCT
cjfa-34397	155	246	and	and	CCONJ
cjfa-34397	155	247	(	(	PUNCT
cjfa-34397	155	248	6	6	NUM
cjfa-34397	155	249	)	)	PUNCT
cjfa-34397	155	250	respectively	respectively	ADV
cjfa-34397	155	251	,	,	PUNCT
cjfa-34397	155	252	where	where	SCONJ
cjfa-34397	155	253	,	,	PUNCT
cjfa-34397	155	254	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	155	255	�	�	PROPN
cjfa-34397	155	256	,	,	PUNCT
cjfa-34397	155	257	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	155	258	�	�	PROPN
cjfa-34397	155	259	,	,	PUNCT
cjfa-34397	155	260	𝑅𝑅	𝑅𝑅	PROPN
cjfa-34397	155	261	�	�	PROPN
cjfa-34397	155	262	,	,	PUNCT
cjfa-34397	155	263	𝛼𝛼	𝛼𝛼	ADP
cjfa-34397	155	264	,	,	PUNCT
cjfa-34397	155	265	𝛼𝛼	𝛼𝛼	ADP
cjfa-34397	155	266	,	,	PUNCT
cjfa-34397	155	267	and	and	CCONJ
cjfa-34397	155	268	𝜀𝜀	𝜀𝜀	PRON
cjfa-34397	155	269	�	�	PROPN
cjfa-34397	155	270	are	be	AUX
cjfa-34397	155	271	citrus	citrus	NOUN
cjfa-34397	155	272	paribus	paribus	NOUN
cjfa-34397	155	273	as	as	ADP
cjfa-34397	155	274	(	(	PUNCT
cjfa-34397	155	275	3	3	NUM
cjfa-34397	155	276	)	)	PUNCT
cjfa-34397	155	277	,	,	PUNCT
cjfa-34397	155	278	𝑇𝑇𝑇𝑇	𝑇𝑇𝑇𝑇	PROPN
cjfa-34397	155	279	�	�	PROPN
cjfa-34397	155	280	�	�	PROPN
cjfa-34397	155	281	�	�	PROPN
cjfa-34397	155	282	refers	refer	VERB
cjfa-34397	155	283	yield	yield	NOUN
cjfa-34397	155	284	on	on	ADP
cjfa-34397	155	285	91day	91day	ADJ
cjfa-34397	155	286	treasury	treasury	NOUN
cjfa-34397	155	287	bill	bill	NOUN
cjfa-34397	155	288	rates	rate	NOUN
cjfa-34397	155	289	;	;	PUNCT
cjfa-34397	155	290	𝐷𝐷𝐷𝐷	𝐷𝐷𝐷𝐷	PROPN
cjfa-34397	155	291	�	�	PROPN
cjfa-34397	155	292	�	�	PROPN
cjfa-34397	155	293	�	�	PROPN
cjfa-34397	155	294	is	be	AUX
cjfa-34397	155	295	the	the	DET
cjfa-34397	155	296	dividend	dividend	NOUN
cjfa-34397	155	297	yield	yield	NOUN
cjfa-34397	155	298	on	on	ADP
cjfa-34397	155	299	cnx	cnx	PROPN
cjfa-34397	155	300	500	500	NUM
cjfa-34397	155	301	market	market	NOUN
cjfa-34397	155	302	index	index	NOUN
cjfa-34397	155	303	;	;	PUNCT
cjfa-34397	155	304	𝑇𝑇𝑇𝑇	𝑇𝑇𝑇𝑇	PROPN
cjfa-34397	155	305	�	�	PROPN
cjfa-34397	155	306	�	�	PROPN
cjfa-34397	155	307	�	�	PROPN
cjfa-34397	155	308	denotes	denote	NOUN
cjfa-34397	155	309	term	term	NOUN
cjfa-34397	155	310	structure	structure	NOUN
cjfa-34397	155	311	rates	rate	NOUN
cjfa-34397	155	312	;	;	PUNCT
cjfa-34397	155	313	𝑃𝑃𝑃𝑃	𝑃𝑃𝑃𝑃	PROPN
cjfa-34397	155	314	�	�	PROPN
cjfa-34397	155	315	�	�	PROPN
cjfa-34397	155	316	�	�	PROPN
cjfa-34397	155	317	indicates	indicate	VERB
cjfa-34397	155	318	price	price	NOUN
cjfa-34397	155	319	-	-	PUNCT
cjfa-34397	155	320	to	to	ADP
cjfa-34397	155	321	-	-	PUNCT
cjfa-34397	155	322	earnings	earning	NOUN
cjfa-34397	155	323	ratio	ratio	NOUN
cjfa-34397	155	324	;	;	PUNCT
cjfa-34397	155	325	and	and	CCONJ
cjfa-34397	155	326	𝐹𝐹𝐹𝐹	𝐹𝐹𝐹𝐹	PROPN
cjfa-34397	155	327	�	�	PROPN
cjfa-34397	155	328	�	�	PROPN
cjfa-34397	155	329	�	�	PROPN
cjfa-34397	155	330	refers	refer	VERB
cjfa-34397	155	331	yield	yield	NOUN
cjfa-34397	155	332	on	on	ADP
cjfa-34397	155	333	foreign	foreign	ADJ
cjfa-34397	155	334	exchange	exchange	NOUN
cjfa-34397	155	335	rates	rate	NOUN
cjfa-34397	155	336	.	.	PUNCT
cjfa-34397	156	1	empirical	empirical	ADJ
cjfa-34397	156	2	results	result	NOUN
cjfa-34397	156	3	table	table	NOUN
cjfa-34397	156	4	1	1	NUM
cjfa-34397	156	5	exhibits	exhibit	VERB
cjfa-34397	156	6	the	the	DET
cjfa-34397	156	7	summary	summary	NOUN
cjfa-34397	156	8	of	of	ADP
cjfa-34397	156	9	funds	fund	NOUN
cjfa-34397	156	10	with	with	ADP
cjfa-34397	156	11	positive	positive	ADJ
cjfa-34397	156	12	and	and	CCONJ
cjfa-34397	156	13	negative	negative	ADJ
cjfa-34397	156	14	γ	γ	NOUN
cjfa-34397	156	15	estimate	estimate	NOUN
cjfa-34397	156	16	as	as	ADP
cjfa-34397	156	17	per	per	ADP
cjfa-34397	156	18	the	the	DET
cjfa-34397	156	19	unconditional	unconditional	ADJ
cjfa-34397	156	20	and	and	CCONJ
cjfa-34397	156	21	conditional	conditional	ADJ
cjfa-34397	156	22	models	model	NOUN
cjfa-34397	156	23	.	.	PUNCT
cjfa-34397	157	1	table	table	NOUN
cjfa-34397	157	2	1	1	NUM
cjfa-34397	157	3	.	.	PUNCT
cjfa-34397	158	1	funds	fund	NOUN
cjfa-34397	158	2	with	with	ADP
cjfa-34397	158	3	positive	positive	ADJ
cjfa-34397	158	4	and	and	CCONJ
cjfa-34397	158	5	negative	negative	ADJ
cjfa-34397	158	6	γ	γ	NOUN
cjfa-34397	158	7	number	number	NOUN
cjfa-34397	158	8	of	of	ADP
cjfa-34397	158	9	funds	fund	NOUN
cjfa-34397	158	10	significant	significant	ADJ
cjfa-34397	158	11	insignificant	insignificant	ADJ
cjfa-34397	158	12	positives	positive	NOUN
cjfa-34397	158	13	negatives	negative	NOUN
cjfa-34397	158	14	positives	positive	NOUN
cjfa-34397	158	15	negatives	negative	NOUN
cjfa-34397	158	16	positives	positive	NOUN
cjfa-34397	158	17	negatives	negative	NOUN
cjfa-34397	158	18	treynor	treynor	NOUN
cjfa-34397	158	19	&	&	CCONJ
cjfa-34397	158	20	mazuy	mazuy	PROPN
cjfa-34397	158	21	unconditional	unconditional	ADJ
cjfa-34397	158	22	model	model	NOUN
cjfa-34397	158	23	131	131	NUM
cjfa-34397	158	24	40	40	NUM
cjfa-34397	158	25	79	79	NUM
cjfa-34397	158	26	3	3	NUM
cjfa-34397	158	27	52	52	NUM
cjfa-34397	158	28	37	37	NUM
cjfa-34397	158	29	conditional	conditional	ADJ
cjfa-34397	158	30	model	model	NOUN
cjfa-34397	158	31	118	118	NUM
cjfa-34397	158	32	53	53	NUM
cjfa-34397	158	33	67	67	NUM
cjfa-34397	158	34	3	3	NUM
cjfa-34397	158	35	51	51	NUM
cjfa-34397	158	36	50	50	NUM
cjfa-34397	158	37	henriksson	henriksson	NOUN
cjfa-34397	158	38	&	&	CCONJ
cjfa-34397	158	39	merton	merton	PROPN
cjfa-34397	158	40	unconditional	unconditional	ADJ
cjfa-34397	158	41	model	model	NOUN
cjfa-34397	158	42	133	133	NUM
cjfa-34397	158	43	38	38	NUM
cjfa-34397	158	44	75	75	NUM
cjfa-34397	158	45	3	3	NUM
cjfa-34397	158	46	58	58	NUM
cjfa-34397	158	47	35	35	NUM
cjfa-34397	158	48	conditional	conditional	ADJ
cjfa-34397	158	49	model	model	NOUN
cjfa-34397	158	50	120	120	NUM
cjfa-34397	158	51	51	51	NUM
cjfa-34397	158	52	65	65	NUM
cjfa-34397	158	53	3	3	NUM
cjfa-34397	158	54	55	55	NUM
cjfa-34397	158	55	48	48	NUM
cjfa-34397	158	56	source	source	NOUN
cjfa-34397	158	57	:	:	PUNCT
cjfa-34397	158	58	authors	author	NOUN
cjfa-34397	158	59	’	'	PUNCT
cjfa-34397	158	60	calculations	calculation	NOUN
cjfa-34397	158	61	.	.	PUNCT
cjfa-34397	159	1	the	the	DET
cjfa-34397	159	2	unconditional	unconditional	ADJ
cjfa-34397	159	3	tm	tm	PROPN
cjfa-34397	159	4	model	model	NOUN
cjfa-34397	159	5	reveals	reveal	VERB
cjfa-34397	159	6	that	that	SCONJ
cjfa-34397	159	7	out	out	ADP
cjfa-34397	159	8	of	of	ADP
cjfa-34397	159	9	171	171	NUM
cjfa-34397	159	10	funds	fund	NOUN
cjfa-34397	159	11	,	,	PUNCT
cjfa-34397	159	12	79	79	NUM
cjfa-34397	159	13	funds	fund	NOUN
cjfa-34397	159	14	show	show	VERB
cjfa-34397	159	15	significant	significant	ADJ
cjfa-34397	159	16	(	(	PUNCT
cjfa-34397	159	17	p	p	X
cjfa-34397	159	18	=	=	NOUN
cjfa-34397	159	19	0.05	0.05	NUM
cjfa-34397	159	20	)	)	PUNCT
cjfa-34397	159	21	positive	positive	ADJ
cjfa-34397	159	22	γ	γ	NOUN
cjfa-34397	159	23	estimate	estimate	NOUN
cjfa-34397	159	24	,	,	PUNCT
cjfa-34397	159	25	which	which	PRON
cjfa-34397	159	26	means	mean	VERB
cjfa-34397	159	27	that	that	SCONJ
cjfa-34397	159	28	there	there	PRON
cjfa-34397	159	29	is	be	VERB
cjfa-34397	159	30	46	46	NUM
cjfa-34397	159	31	per	per	ADP
cjfa-34397	159	32	cent	cent	NOUN
cjfa-34397	159	33	of	of	ADP
cjfa-34397	159	34	fund	fund	NOUN
cjfa-34397	159	35	managers	manager	NOUN
cjfa-34397	159	36	outperform	outperform	VERB
cjfa-34397	159	37	the	the	DET
cjfa-34397	159	38	market	market	NOUN
cjfa-34397	159	39	with	with	ADP
cjfa-34397	159	40	significant	significant	ADJ
cjfa-34397	159	41	market	market	NOUN
cjfa-34397	159	42	timing	timing	NOUN
cjfa-34397	159	43	ability	ability	NOUN
cjfa-34397	159	44	.	.	PUNCT
cjfa-34397	160	1	only	only	ADV
cjfa-34397	160	2	three	three	NUM
cjfa-34397	160	3	funds	fund	NOUN
cjfa-34397	160	4	exhibit	exhibit	VERB
cjfa-34397	160	5	negative	negative	ADJ
cjfa-34397	160	6	significant	significant	ADJ
cjfa-34397	160	7	negative	negative	ADJ
cjfa-34397	160	8	estimate	estimate	NOUN
cjfa-34397	160	9	for	for	ADP
cjfa-34397	160	10	mta	mta	PROPN
cjfa-34397	160	11	factor	factor	NOUN
cjfa-34397	160	12	.	.	PUNCT
cjfa-34397	161	1	(	(	PUNCT
cjfa-34397	161	2	6	6	NUM
cjfa-34397	161	3	)	)	PUNCT
cjfa-34397	161	4	the	the	DET
cjfa-34397	161	5	conditional	conditional	ADJ
cjfa-34397	161	6	tm	tm	PROPN
cjfa-34397	161	7	model	model	NOUN
cjfa-34397	161	8	and	and	CCONJ
cjfa-34397	161	9	the	the	DET
cjfa-34397	161	10	conditional	conditional	ADJ
cjfa-34397	161	11	hm	hm	INTJ
cjfa-34397	161	12	model	model	NOUN
cjfa-34397	161	13	are	be	AUX
cjfa-34397	161	14	represented	represent	VERB
cjfa-34397	161	15	by	by	ADP
cjfa-34397	161	16	(	(	PUNCT
cjfa-34397	161	17	5	5	NUM
cjfa-34397	161	18	)	)	PUNCT
cjfa-34397	161	19	and	and	CCONJ
cjfa-34397	161	20	(	(	PUNCT
cjfa-34397	161	21	6	6	NUM
cjfa-34397	161	22	)	)	PUNCT
cjfa-34397	161	23	respectively	respectively	ADV
cjfa-34397	161	24	,	,	PUNCT
cjfa-34397	161	25	where	where	SCONJ
cjfa-34397	161	26	,	,	PUNCT
cjfa-34397	161	27	rp	rp	PROPN
cjfa-34397	161	28	,	,	PUNCT
cjfa-34397	161	29	rm	rm	PROPN
cjfa-34397	161	30	,	,	PUNCT
cjfa-34397	161	31	rf	rf	PROPN
cjfa-34397	161	32	 	 	SPACE
cjfa-34397	161	33	,	,	PUNCT
cjfa-34397	161	34	α	α	X
cjfa-34397	161	35	,	,	PUNCT
cjfa-34397	161	36	β	β	X
cjfa-34397	161	37	and	and	CCONJ
cjfa-34397	161	38	εp	εp	PROPN
cjfa-34397	161	39	are	be	AUX
cjfa-34397	161	40	citrus	citrus	NOUN
cjfa-34397	161	41	paribus	paribus	NOUN
cjfa-34397	161	42	as	as	ADP
cjfa-34397	161	43	(	(	PUNCT
cjfa-34397	161	44	3	3	NUM
cjfa-34397	161	45	)	)	PUNCT
cjfa-34397	161	46	,	,	PUNCT
cjfa-34397	161	47	tbt–1	tbt–1	PROPN
cjfa-34397	161	48	refers	refer	VERB
cjfa-34397	161	49	yield	yield	NOUN
cjfa-34397	161	50	on	on	ADP
cjfa-34397	161	51	91	91	NUM
cjfa-34397	161	52	-	-	PUNCT
cjfa-34397	161	53	day	day	NOUN
cjfa-34397	161	54	treasury	treasury	NOUN
cjfa-34397	161	55	bill	bill	NOUN
cjfa-34397	161	56	rates	rate	NOUN
cjfa-34397	161	57	;	;	PUNCT
cjfa-34397	161	58	dyt–1	dyt–1	ADP
cjfa-34397	161	59	is	be	AUX
cjfa-34397	161	60	the	the	DET
cjfa-34397	161	61	dividend	dividend	NOUN
cjfa-34397	161	62	yield	yield	NOUN
cjfa-34397	161	63	on	on	ADP
cjfa-34397	161	64	cnx	cnx	PROPN
cjfa-34397	161	65	500	500	NUM
cjfa-34397	161	66	market	market	NOUN
cjfa-34397	161	67	index	index	NOUN
cjfa-34397	161	68	;	;	PUNCT
cjfa-34397	161	69	tst–1	tst–1	PROPN
cjfa-34397	161	70	denotes	denote	NOUN
cjfa-34397	161	71	term	term	NOUN
cjfa-34397	161	72	structure	structure	NOUN
cjfa-34397	161	73	rates	rate	NOUN
cjfa-34397	161	74	;	;	PUNCT
cjfa-34397	161	75	pet–1	pet–1	NUM
cjfa-34397	161	76	indicates	indicate	VERB
cjfa-34397	161	77	price	price	NOUN
cjfa-34397	161	78	-	-	PUNCT
cjfa-34397	161	79	toearnings	toearning	NOUN
cjfa-34397	161	80	ratio	ratio	NOUN
cjfa-34397	161	81	;	;	PUNCT
cjfa-34397	161	82	and	and	CCONJ
cjfa-34397	161	83	fxt–1	fxt–1	NOUN
cjfa-34397	161	84	refers	refer	VERB
cjfa-34397	161	85	yield	yield	NOUN
cjfa-34397	161	86	on	on	ADP
cjfa-34397	161	87	foreign	foreign	ADJ
cjfa-34397	161	88	exchange	exchange	NOUN
cjfa-34397	161	89	rates	rate	NOUN
cjfa-34397	161	90	.	.	PUNCT
cjfa-34397	162	1	empirical	empirical	ADJ
cjfa-34397	162	2	results	result	NOUN
cjfa-34397	162	3	table	table	NOUN
cjfa-34397	162	4	1	1	NUM
cjfa-34397	162	5	exhibits	exhibit	VERB
cjfa-34397	162	6	the	the	DET
cjfa-34397	162	7	summary	summary	NOUN
cjfa-34397	162	8	of	of	ADP
cjfa-34397	162	9	funds	fund	NOUN
cjfa-34397	162	10	with	with	ADP
cjfa-34397	162	11	positive	positive	ADJ
cjfa-34397	162	12	and	and	CCONJ
cjfa-34397	162	13	negative	negative	ADJ
cjfa-34397	162	14	γ	γ	NOUN
cjfa-34397	162	15	estimate	estimate	NOUN
cjfa-34397	162	16	as	as	ADP
cjfa-34397	162	17	per	per	ADP
cjfa-34397	162	18	the	the	DET
cjfa-34397	162	19	unconditional	unconditional	ADJ
cjfa-34397	162	20	and	and	CCONJ
cjfa-34397	162	21	conditional	conditional	ADJ
cjfa-34397	162	22	models	model	NOUN
cjfa-34397	162	23	.	.	PUNCT
cjfa-34397	163	1	table	table	NOUN
cjfa-34397	163	2	1	1	NUM
cjfa-34397	163	3	.	.	PUNCT
cjfa-34397	164	1	funds	fund	NOUN
cjfa-34397	164	2	with	with	ADP
cjfa-34397	164	3	positive	positive	ADJ
cjfa-34397	164	4	and	and	CCONJ
cjfa-34397	164	5	negative	negative	ADJ
cjfa-34397	164	6	γ	γ	NOUN
cjfa-34397	164	7	number	number	NOUN
cjfa-34397	164	8	of	of	ADP
cjfa-34397	164	9	funds	fund	NOUN
cjfa-34397	164	10	significant	significant	ADJ
cjfa-34397	164	11	insignificant	insignificant	ADJ
cjfa-34397	164	12	positives	positive	NOUN
cjfa-34397	164	13	negatives	negative	NOUN
cjfa-34397	164	14	positives	positive	NOUN
cjfa-34397	164	15	negatives	negative	NOUN
cjfa-34397	164	16	positives	positive	NOUN
cjfa-34397	164	17	negatives	negative	NOUN
cjfa-34397	164	18	treynor	treynor	NOUN
cjfa-34397	164	19	&	&	CCONJ
cjfa-34397	164	20	mazuy	mazuy	PROPN
cjfa-34397	164	21	unconditional	unconditional	ADJ
cjfa-34397	164	22	model	model	NOUN
cjfa-34397	164	23	131	131	NUM
cjfa-34397	164	24	40	40	NUM
cjfa-34397	164	25	79	79	NUM
cjfa-34397	164	26	3	3	NUM
cjfa-34397	164	27	52	52	NUM
cjfa-34397	164	28	37	37	NUM
cjfa-34397	164	29	conditional	conditional	ADJ
cjfa-34397	164	30	model	model	NOUN
cjfa-34397	164	31	118	118	NUM
cjfa-34397	164	32	53	53	NUM
cjfa-34397	164	33	67	67	NUM
cjfa-34397	164	34	3	3	NUM
cjfa-34397	164	35	51	51	NUM
cjfa-34397	164	36	50	50	NUM
cjfa-34397	164	37	henriksson	henriksson	NOUN
cjfa-34397	164	38	&	&	CCONJ
cjfa-34397	164	39	merton	merton	PROPN
cjfa-34397	164	40	unconditional	unconditional	ADJ
cjfa-34397	164	41	model	model	NOUN
cjfa-34397	164	42	133	133	NUM
cjfa-34397	164	43	38	38	NUM
cjfa-34397	164	44	75	75	NUM
cjfa-34397	164	45	3	3	NUM
cjfa-34397	164	46	58	58	NUM
cjfa-34397	164	47	35	35	NUM
cjfa-34397	164	48	conditional	conditional	ADJ
cjfa-34397	164	49	model	model	NOUN
cjfa-34397	164	50	120	120	NUM
cjfa-34397	164	51	51	51	NUM
cjfa-34397	164	52	65	65	NUM
cjfa-34397	164	53	3	3	NUM
cjfa-34397	164	54	55	55	NUM
cjfa-34397	164	55	48	48	NUM
cjfa-34397	164	56	s	s	NOUN
cjfa-34397	164	57	o	o	NOUN
cjfa-34397	164	58	u	u	NOUN
cjfa-34397	164	59	r	r	NOUN
cjfa-34397	164	60	c	c	NOUN
cjfa-34397	164	61	e	e	NOUN
cjfa-34397	164	62	:	:	PUNCT
cjfa-34397	164	63	authors	author	NOUN
cjfa-34397	164	64	’	'	PUNCT
cjfa-34397	164	65	calculations	calculation	NOUN
cjfa-34397	164	66	.	.	PUNCT
cjfa-34397	165	1	the	the	DET
cjfa-34397	165	2	unconditional	unconditional	ADJ
cjfa-34397	165	3	tm	tm	PROPN
cjfa-34397	165	4	model	model	NOUN
cjfa-34397	165	5	reveals	reveal	VERB
cjfa-34397	165	6	that	that	SCONJ
cjfa-34397	165	7	out	out	ADP
cjfa-34397	165	8	of	of	ADP
cjfa-34397	165	9	171	171	NUM
cjfa-34397	165	10	funds	fund	NOUN
cjfa-34397	165	11	,	,	PUNCT
cjfa-34397	165	12	79	79	NUM
cjfa-34397	165	13	funds	fund	NOUN
cjfa-34397	165	14	show	show	VERB
cjfa-34397	165	15	significant	significant	ADJ
cjfa-34397	165	16	(	(	PUNCT
cjfa-34397	165	17	p	p	X
cjfa-34397	165	18	=	=	NOUN
cjfa-34397	165	19	0.05	0.05	NUM
cjfa-34397	165	20	)	)	PUNCT
cjfa-34397	165	21	positive	positive	ADJ
cjfa-34397	165	22	γ	γ	NOUN
cjfa-34397	165	23	estimate	estimate	NOUN
cjfa-34397	165	24	,	,	PUNCT
cjfa-34397	165	25	which	which	PRON
cjfa-34397	165	26	means	mean	VERB
cjfa-34397	165	27	that	that	SCONJ
cjfa-34397	165	28	there	there	PRON
cjfa-34397	165	29	is	be	VERB
cjfa-34397	165	30	46	46	NUM
cjfa-34397	165	31	per	per	ADP
cjfa-34397	165	32	cent	cent	NOUN
cjfa-34397	165	33	of	of	ADP
cjfa-34397	165	34	fund	fund	NOUN
cjfa-34397	165	35	managers	manager	NOUN
cjfa-34397	165	36	outperform	outperform	VERB
cjfa-34397	165	37	the	the	DET
cjfa-34397	165	38	market	market	NOUN
cjfa-34397	165	39	with	with	ADP
cjfa-34397	165	40	significant	significant	ADJ
cjfa-34397	165	41	market	market	NOUN
cjfa-34397	165	42	timing	timing	NOUN
cjfa-34397	165	43	ability	ability	NOUN
cjfa-34397	165	44	.	.	PUNCT
cjfa-34397	166	1	only	only	ADV
cjfa-34397	166	2	three	three	NUM
cjfa-34397	166	3	funds	fund	NOUN
cjfa-34397	166	4	exhibit	exhibit	VERB
cjfa-34397	166	5	negative	negative	ADJ
cjfa-34397	166	6	significant	significant	ADJ
cjfa-34397	166	7	negative	negative	ADJ
cjfa-34397	166	8	estimate	estimate	NOUN
cjfa-34397	166	9	for	for	ADP
cjfa-34397	166	10	mta	mta	PROPN
cjfa-34397	166	11	factor	factor	NOUN
cjfa-34397	166	12	.	.	PUNCT
cjfa-34397	167	1	v.	v.	ADP
cjfa-34397	167	2	veeravel	veeravel	NOUN
cjfa-34397	167	3	,	,	PUNCT
cjfa-34397	167	4	s.	s.	PROPN
cjfa-34397	167	5	mohanasundaram94	mohanasundaram94	VERB
cjfa-34397	167	6	the	the	DET
cjfa-34397	167	7	conditional	conditional	ADJ
cjfa-34397	167	8	tm	tm	PROPN
cjfa-34397	167	9	model	model	NOUN
cjfa-34397	167	10	reveals	reveal	VERB
cjfa-34397	167	11	that	that	SCONJ
cjfa-34397	167	12	67	67	NUM
cjfa-34397	167	13	funds	fund	NOUN
cjfa-34397	167	14	show	show	VERB
cjfa-34397	167	15	significant	significant	ADJ
cjfa-34397	167	16	(	(	PUNCT
cjfa-34397	167	17	p	p	X
cjfa-34397	167	18	=	=	NOUN
cjfa-34397	167	19	0.05	0.05	NUM
cjfa-34397	167	20	)	)	PUNCT
cjfa-34397	167	21	positive	positive	ADJ
cjfa-34397	167	22	γ	γ	NOUN
cjfa-34397	167	23	estimate	estimate	NOUN
cjfa-34397	167	24	,	,	PUNCT
cjfa-34397	167	25	which	which	PRON
cjfa-34397	167	26	means	mean	VERB
cjfa-34397	167	27	that	that	SCONJ
cjfa-34397	167	28	there	there	PRON
cjfa-34397	167	29	is	be	VERB
cjfa-34397	167	30	39	39	NUM
cjfa-34397	167	31	per	per	ADP
cjfa-34397	167	32	cent	cent	NOUN
cjfa-34397	167	33	of	of	ADP
cjfa-34397	167	34	fund	fund	NOUN
cjfa-34397	167	35	managers	manager	NOUN
cjfa-34397	167	36	outperform	outperform	VERB
cjfa-34397	167	37	the	the	DET
cjfa-34397	167	38	market	market	NOUN
cjfa-34397	167	39	with	with	ADP
cjfa-34397	167	40	significant	significant	ADJ
cjfa-34397	167	41	market	market	NOUN
cjfa-34397	167	42	timing	timing	NOUN
cjfa-34397	167	43	ability	ability	NOUN
cjfa-34397	167	44	.	.	PUNCT
cjfa-34397	168	1	only	only	ADV
cjfa-34397	168	2	three	three	NUM
cjfa-34397	168	3	funds	fund	NOUN
cjfa-34397	168	4	exhibit	exhibit	VERB
cjfa-34397	168	5	significant	significant	ADJ
cjfa-34397	168	6	negative	negative	ADJ
cjfa-34397	168	7	γ	γ	NOUN
cjfa-34397	168	8	estimate	estimate	NOUN
cjfa-34397	168	9	.	.	PUNCT
cjfa-34397	169	1	further	far	ADV
cjfa-34397	169	2	,	,	PUNCT
cjfa-34397	169	3	the	the	DET
cjfa-34397	169	4	interesting	interesting	ADJ
cjfa-34397	169	5	finding	finding	NOUN
cjfa-34397	169	6	is	be	AUX
cjfa-34397	169	7	that	that	SCONJ
cjfa-34397	169	8	the	the	DET
cjfa-34397	169	9	fund	fund	NOUN
cjfa-34397	169	10	showing	show	VERB
cjfa-34397	169	11	a	a	DET
cjfa-34397	169	12	significant	significant	ADJ
cjfa-34397	169	13	positive	positive	ADJ
cjfa-34397	169	14	γ	γ	NOUN
cjfa-34397	169	15	estimate	estimate	NOUN
cjfa-34397	169	16	in	in	ADP
cjfa-34397	169	17	unconditional	unconditional	ADJ
cjfa-34397	169	18	tm	tm	PROPN
cjfa-34397	169	19	model	model	NOUN
cjfa-34397	169	20	are	be	AUX
cjfa-34397	169	21	not	not	PART
cjfa-34397	169	22	the	the	DET
cjfa-34397	169	23	same	same	ADJ
cjfa-34397	169	24	funds	fund	NOUN
cjfa-34397	169	25	which	which	PRON
cjfa-34397	169	26	show	show	VERB
cjfa-34397	169	27	a	a	DET
cjfa-34397	169	28	significant	significant	ADJ
cjfa-34397	169	29	positive	positive	ADJ
cjfa-34397	169	30	γ	γ	NOUN
cjfa-34397	169	31	estimate	estimate	NOUN
cjfa-34397	169	32	in	in	ADP
cjfa-34397	169	33	the	the	DET
cjfa-34397	169	34	conditional	conditional	ADJ
cjfa-34397	169	35	tm	tm	PROPN
cjfa-34397	169	36	model	model	NOUN
cjfa-34397	169	37	,	,	PUNCT
cjfa-34397	169	38	which	which	PRON
cjfa-34397	169	39	means	mean	VERB
cjfa-34397	169	40	that	that	SCONJ
cjfa-34397	169	41	the	the	DET
cjfa-34397	169	42	inclusion	inclusion	NOUN
cjfa-34397	169	43	of	of	ADP
cjfa-34397	169	44	the	the	DET
cjfa-34397	169	45	pivs	pivs	ADJ
cjfa-34397	169	46	reconstitutes	reconstitute	VERB
cjfa-34397	169	47	the	the	DET
cjfa-34397	169	48	estimates	estimate	NOUN
cjfa-34397	169	49	,	,	PUNCT
cjfa-34397	169	50	while	while	SCONJ
cjfa-34397	169	51	the	the	DET
cjfa-34397	169	52	coefficient	coefficient	NOUN
cjfa-34397	169	53	of	of	ADP
cjfa-34397	169	54	determination	determination	NOUN
cjfa-34397	169	55	of	of	ADP
cjfa-34397	169	56	the	the	DET
cjfa-34397	169	57	model	model	NOUN
cjfa-34397	169	58	is	be	AUX
cjfa-34397	169	59	being	be	AUX
cjfa-34397	169	60	improved	improve	VERB
cjfa-34397	169	61	.	.	PUNCT
cjfa-34397	170	1	the	the	DET
cjfa-34397	170	2	results	result	NOUN
cjfa-34397	170	3	of	of	ADP
cjfa-34397	170	4	the	the	DET
cjfa-34397	170	5	unconditional	unconditional	ADJ
cjfa-34397	170	6	hm	hm	INTJ
cjfa-34397	170	7	model	model	NOUN
cjfa-34397	170	8	exhibit	exhibit	VERB
cjfa-34397	170	9	that	that	SCONJ
cjfa-34397	170	10	75	75	NUM
cjfa-34397	170	11	funds	fund	NOUN
cjfa-34397	170	12	show	show	VERB
cjfa-34397	170	13	a	a	DET
cjfa-34397	170	14	significant	significant	ADJ
cjfa-34397	170	15	positive	positive	ADJ
cjfa-34397	170	16	γ	γ	NOUN
cjfa-34397	170	17	estimate	estimate	NOUN
cjfa-34397	170	18	,	,	PUNCT
cjfa-34397	170	19	which	which	PRON
cjfa-34397	170	20	means	mean	VERB
cjfa-34397	170	21	that	that	SCONJ
cjfa-34397	170	22	there	there	PRON
cjfa-34397	170	23	is	be	VERB
cjfa-34397	170	24	44	44	NUM
cjfa-34397	170	25	per	per	ADP
cjfa-34397	170	26	cent	cent	NOUN
cjfa-34397	170	27	of	of	ADP
cjfa-34397	170	28	fund	fund	NOUN
cjfa-34397	170	29	managers	manager	NOUN
cjfa-34397	170	30	outperform	outperform	VERB
cjfa-34397	170	31	the	the	DET
cjfa-34397	170	32	market	market	NOUN
cjfa-34397	170	33	with	with	ADP
cjfa-34397	170	34	significant	significant	ADJ
cjfa-34397	170	35	(	(	PUNCT
cjfa-34397	170	36	p	p	X
cjfa-34397	170	37	=	=	NOUN
cjfa-34397	170	38	0.05	0.05	NUM
cjfa-34397	170	39	)	)	PUNCT
cjfa-34397	170	40	market	market	NOUN
cjfa-34397	170	41	timing	timing	NOUN
cjfa-34397	170	42	ability	ability	NOUN
cjfa-34397	170	43	and	and	CCONJ
cjfa-34397	170	44	only	only	ADV
cjfa-34397	170	45	three	three	NUM
cjfa-34397	170	46	funds	fund	NOUN
cjfa-34397	170	47	exhibit	exhibit	VERB
cjfa-34397	170	48	significant	significant	ADJ
cjfa-34397	170	49	negative	negative	ADJ
cjfa-34397	170	50	γ	γ	NOUN
cjfa-34397	170	51	estimate	estimate	NOUN
cjfa-34397	170	52	.	.	PUNCT
cjfa-34397	171	1	the	the	DET
cjfa-34397	171	2	results	result	NOUN
cjfa-34397	171	3	of	of	ADP
cjfa-34397	171	4	the	the	DET
cjfa-34397	171	5	conditional	conditional	ADJ
cjfa-34397	171	6	hm	hm	INTJ
cjfa-34397	171	7	model	model	NOUN
cjfa-34397	171	8	exhibit	exhibit	VERB
cjfa-34397	171	9	that	that	SCONJ
cjfa-34397	171	10	65	65	NUM
cjfa-34397	171	11	funds	fund	NOUN
cjfa-34397	171	12	show	show	VERB
cjfa-34397	171	13	significant	significant	ADJ
cjfa-34397	171	14	positive	positive	ADJ
cjfa-34397	171	15	γ	γ	NOUN
cjfa-34397	171	16	estimate	estimate	NOUN
cjfa-34397	171	17	,	,	PUNCT
cjfa-34397	171	18	which	which	PRON
cjfa-34397	171	19	means	mean	VERB
cjfa-34397	171	20	that	that	SCONJ
cjfa-34397	171	21	there	there	PRON
cjfa-34397	171	22	is	be	VERB
cjfa-34397	171	23	38	38	NUM
cjfa-34397	171	24	per	per	NOUN
cjfa-34397	171	25	cent	cent	NOUN
cjfa-34397	171	26	of	of	ADP
cjfa-34397	171	27	fund	fund	NOUN
cjfa-34397	171	28	managers	manager	NOUN
cjfa-34397	171	29	outperform	outperform	VERB
cjfa-34397	171	30	the	the	DET
cjfa-34397	171	31	market	market	NOUN
cjfa-34397	171	32	with	with	ADP
cjfa-34397	171	33	significant	significant	ADJ
cjfa-34397	171	34	market	market	NOUN
cjfa-34397	171	35	timing	timing	NOUN
cjfa-34397	171	36	ability	ability	NOUN
cjfa-34397	171	37	and	and	CCONJ
cjfa-34397	171	38	only	only	ADV
cjfa-34397	171	39	three	three	NUM
cjfa-34397	171	40	funds	fund	NOUN
cjfa-34397	171	41	exhibit	exhibit	VERB
cjfa-34397	171	42	significant	significant	ADJ
cjfa-34397	171	43	negative	negative	ADJ
cjfa-34397	171	44	γ	γ	NOUN
cjfa-34397	171	45	estimate	estimate	NOUN
cjfa-34397	171	46	.	.	PUNCT
cjfa-34397	172	1	similar	similar	ADJ
cjfa-34397	172	2	to	to	ADP
cjfa-34397	172	3	hm	hm	PROPN
cjfa-34397	172	4	model	model	PROPN
cjfa-34397	172	5	,	,	PUNCT
cjfa-34397	172	6	the	the	DET
cjfa-34397	172	7	fund	fund	NOUN
cjfa-34397	172	8	showing	show	VERB
cjfa-34397	172	9	the	the	DET
cjfa-34397	172	10	significant	significant	ADJ
cjfa-34397	172	11	positive	positive	ADJ
cjfa-34397	172	12	γ	γ	NOUN
cjfa-34397	172	13	estimate	estimate	NOUN
cjfa-34397	172	14	in	in	ADP
cjfa-34397	172	15	unconditional	unconditional	ADJ
cjfa-34397	172	16	tm	tm	PROPN
cjfa-34397	172	17	model	model	NOUN
cjfa-34397	172	18	are	be	AUX
cjfa-34397	172	19	not	not	PART
cjfa-34397	172	20	the	the	DET
cjfa-34397	172	21	same	same	ADJ
cjfa-34397	172	22	funds	fund	NOUN
cjfa-34397	172	23	which	which	PRON
cjfa-34397	172	24	show	show	VERB
cjfa-34397	172	25	significant	significant	ADJ
cjfa-34397	172	26	positive	positive	ADJ
cjfa-34397	172	27	γ	γ	NOUN
cjfa-34397	172	28	estimate	estimate	NOUN
cjfa-34397	172	29	in	in	ADP
cjfa-34397	172	30	the	the	DET
cjfa-34397	172	31	conditional	conditional	ADJ
cjfa-34397	172	32	tm	tm	PROPN
cjfa-34397	172	33	model	model	NOUN
cjfa-34397	172	34	.	.	PUNCT
cjfa-34397	173	1	table	table	NOUN
cjfa-34397	173	2	2	2	NUM
cjfa-34397	173	3	shows	show	VERB
cjfa-34397	173	4	the	the	DET
cjfa-34397	173	5	summary	summary	NOUN
cjfa-34397	173	6	of	of	ADP
cjfa-34397	173	7	the	the	DET
cjfa-34397	173	8	γ	γ	X
cjfa-34397	173	9	estimate	estimate	NOUN
cjfa-34397	173	10	of	of	ADP
cjfa-34397	173	11	the	the	DET
cjfa-34397	173	12	funds	fund	NOUN
cjfa-34397	173	13	as	as	ADP
cjfa-34397	173	14	per	per	ADP
cjfa-34397	173	15	the	the	DET
cjfa-34397	173	16	four	four	NUM
cjfa-34397	173	17	models	model	NOUN
cjfa-34397	173	18	,	,	PUNCT
cjfa-34397	173	19	after	after	ADP
cjfa-34397	173	20	removing	remove	VERB
cjfa-34397	173	21	the	the	DET
cjfa-34397	173	22	outliers	outlier	NOUN
cjfa-34397	173	23	.	.	PUNCT
cjfa-34397	174	1	table	table	NOUN
cjfa-34397	174	2	2	2	NUM
cjfa-34397	174	3	.	.	PUNCT
cjfa-34397	175	1	summary	summary	NOUN
cjfa-34397	175	2	of	of	ADP
cjfa-34397	175	3	γ	γ	X
cjfa-34397	175	4	estimate	estimate	NOUN
cjfa-34397	175	5	from	from	ADP
cjfa-34397	175	6	unconditional	unconditional	ADJ
cjfa-34397	175	7	and	and	CCONJ
cjfa-34397	175	8	conditional	conditional	ADJ
cjfa-34397	175	9	models	model	NOUN
cjfa-34397	175	10	mean	mean	VERB
cjfa-34397	175	11	s.d	s.d	PROPN
cjfa-34397	175	12	.	.	PROPN
cjfa-34397	175	13	median	median	PROPN
cjfa-34397	175	14	min	min	PROPN
cjfa-34397	175	15	.	.	PROPN
cjfa-34397	175	16	max	max	PROPN
cjfa-34397	175	17	.	.	PUNCT
cjfa-34397	176	1	s.e	s.e	PROPN
cjfa-34397	176	2	.	.	PROPN
cjfa-34397	176	3	treynor	treynor	PROPN
cjfa-34397	176	4	&	&	CCONJ
cjfa-34397	176	5	mazuy	mazuy	PROPN
cjfa-34397	176	6	unconditional	unconditional	ADJ
cjfa-34397	176	7	model	model	NOUN
cjfa-34397	176	8	0.3782	0.3782	NUM
cjfa-34397	176	9	0.4652	0.4652	NUM
cjfa-34397	176	10	0.3867	0.3867	NUM
cjfa-34397	176	11	-0.8338	-0.8338	NOUN
cjfa-34397	176	12	1.3859	1.3859	NUM
cjfa-34397	176	13	0.0411	0.0411	NUM
cjfa-34397	176	14	conditional	conditional	ADJ
cjfa-34397	176	15	model	model	NOUN
cjfa-34397	176	16	0.5133	0.5133	NUM
cjfa-34397	176	17	0.8335	0.8335	NUM
cjfa-34397	176	18	0.5899	0.5899	NUM
cjfa-34397	176	19	-1.8898	-1.8898	NOUN
cjfa-34397	176	20	2.4125	2.4125	NUM
cjfa-34397	176	21	0.0737	0.0737	NUM
cjfa-34397	176	22	henriksson	henriksson	PROPN
cjfa-34397	176	23	&	&	CCONJ
cjfa-34397	176	24	merton	merton	PROPN
cjfa-34397	176	25	unconditional	unconditional	ADJ
cjfa-34397	176	26	model	model	NOUN
cjfa-34397	176	27	0.1109	0.1109	NUM
cjfa-34397	176	28	0.1120	0.1120	NUM
cjfa-34397	176	29	0.1311	0.1311	NUM
cjfa-34397	176	30	-0.2329	-0.2329	VERB
cjfa-34397	176	31	0.4319	0.4319	NUM
cjfa-34397	176	32	0.0099	0.0099	NUM
cjfa-34397	176	33	conditional	conditional	ADJ
cjfa-34397	176	34	model	model	NOUN
cjfa-34397	176	35	0.4915	0.4915	NUM
cjfa-34397	176	36	0.8103	0.8103	NUM
cjfa-34397	176	37	0.5657	0.5657	NUM
cjfa-34397	176	38	-1.8791	-1.8791	NOUN
cjfa-34397	177	1	2.4140	2.4140	NUM
cjfa-34397	177	2	0.0716	0.0716	NUM
cjfa-34397	177	3	s	s	PART
cjfa-34397	177	4	o	o	NOUN
cjfa-34397	177	5	u	u	NOUN
cjfa-34397	177	6	r	r	NOUN
cjfa-34397	177	7	c	c	NOUN
cjfa-34397	177	8	e	e	NOUN
cjfa-34397	177	9	:	:	PUNCT
cjfa-34397	177	10	authors	author	NOUN
cjfa-34397	177	11	’	'	PUNCT
cjfa-34397	177	12	calculations	calculation	NOUN
cjfa-34397	177	13	.	.	PUNCT
cjfa-34397	178	1	market	market	NOUN
cjfa-34397	178	2	timing	timing	NOUN
cjfa-34397	178	3	abilities	ability	NOUN
cjfa-34397	178	4	of	of	ADP
cjfa-34397	178	5	large	large	ADJ
cjfa-34397	178	6	-	-	PUNCT
cjfa-34397	178	7	cap	cap	NOUN
cjfa-34397	178	8	equity	equity	NOUN
cjfa-34397	178	9	mutual	mutual	ADJ
cjfa-34397	178	10	fund	fund	NOUN
cjfa-34397	178	11	managers	manager	NOUN
cjfa-34397	178	12	…	…	PUNCT
cjfa-34397	178	13	95	95	NUM
cjfa-34397	178	14	it	it	PRON
cjfa-34397	178	15	is	be	AUX
cjfa-34397	178	16	evident	evident	ADJ
cjfa-34397	178	17	that	that	SCONJ
cjfa-34397	178	18	the	the	DET
cjfa-34397	178	19	inclusion	inclusion	NOUN
cjfa-34397	178	20	of	of	ADP
cjfa-34397	178	21	the	the	DET
cjfa-34397	178	22	mean	mean	NOUN
cjfa-34397	178	23	γ	γ	NOUN
cjfa-34397	178	24	estimate	estimate	NOUN
cjfa-34397	178	25	is	be	AUX
cjfa-34397	178	26	increasing	increase	VERB
cjfa-34397	178	27	with	with	ADP
cjfa-34397	178	28	the	the	DET
cjfa-34397	178	29	addition	addition	NOUN
cjfa-34397	178	30	of	of	ADP
cjfa-34397	178	31	the	the	DET
cjfa-34397	178	32	pivs	pivs	ADJ
cjfa-34397	178	33	.	.	PUNCT
cjfa-34397	179	1	however	however	ADV
cjfa-34397	179	2	,	,	PUNCT
cjfa-34397	179	3	the	the	DET
cjfa-34397	179	4	standard	standard	ADJ
cjfa-34397	179	5	deviation	deviation	NOUN
cjfa-34397	179	6	of	of	ADP
cjfa-34397	179	7	γ	γ	ADJ
cjfa-34397	179	8	estimate	estimate	NOUN
cjfa-34397	179	9	is	be	AUX
cjfa-34397	179	10	also	also	ADV
cjfa-34397	179	11	increasing	increase	VERB
cjfa-34397	179	12	,	,	PUNCT
cjfa-34397	179	13	which	which	PRON
cjfa-34397	179	14	results	result	VERB
cjfa-34397	179	15	in	in	ADP
cjfa-34397	179	16	high	high	ADJ
cjfa-34397	179	17	standard	standard	ADJ
cjfa-34397	179	18	error	error	NOUN
cjfa-34397	179	19	.	.	PUNCT
cjfa-34397	180	1	it	it	PRON
cjfa-34397	180	2	is	be	AUX
cjfa-34397	180	3	also	also	ADV
cjfa-34397	180	4	notable	notable	ADJ
cjfa-34397	180	5	that	that	SCONJ
cjfa-34397	180	6	even	even	ADV
cjfa-34397	180	7	though	though	SCONJ
cjfa-34397	180	8	the	the	DET
cjfa-34397	180	9	mean	mean	NOUN
cjfa-34397	180	10	γ	γ	NOUN
cjfa-34397	180	11	estimate	estimate	NOUN
cjfa-34397	180	12	is	be	AUX
cjfa-34397	180	13	positive	positive	ADJ
cjfa-34397	180	14	in	in	ADP
cjfa-34397	180	15	all	all	DET
cjfa-34397	180	16	the	the	DET
cjfa-34397	180	17	models	model	NOUN
cjfa-34397	180	18	,	,	PUNCT
cjfa-34397	180	19	the	the	DET
cjfa-34397	180	20	number	number	NOUN
cjfa-34397	180	21	of	of	ADP
cjfa-34397	180	22	funds	fund	NOUN
cjfa-34397	180	23	having	have	VERB
cjfa-34397	180	24	significant	significant	ADJ
cjfa-34397	180	25	positive	positive	ADJ
cjfa-34397	180	26	γ	γ	NOUN
cjfa-34397	180	27	estimate	estimate	NOUN
cjfa-34397	180	28	is	be	AUX
cjfa-34397	180	29	not	not	PART
cjfa-34397	180	30	significantly	significantly	ADV
cjfa-34397	180	31	above	above	ADP
cjfa-34397	180	32	50	50	NUM
cjfa-34397	180	33	percent	percent	NOUN
cjfa-34397	180	34	of	of	ADP
cjfa-34397	180	35	the	the	DET
cjfa-34397	180	36	sample	sample	NOUN
cjfa-34397	180	37	.	.	PUNCT
cjfa-34397	181	1	the	the	DET
cjfa-34397	181	2	positive	positive	ADJ
cjfa-34397	181	3	mean	mean	NOUN
cjfa-34397	181	4	γ	γ	NOUN
cjfa-34397	181	5	estimate	estimate	NOUN
cjfa-34397	181	6	is	be	AUX
cjfa-34397	181	7	because	because	SCONJ
cjfa-34397	181	8	of	of	ADP
cjfa-34397	181	9	the	the	DET
cjfa-34397	181	10	high	high	ADJ
cjfa-34397	181	11	magnitude	magnitude	NOUN
cjfa-34397	181	12	the	the	DET
cjfa-34397	181	13	estimate	estimate	NOUN
cjfa-34397	181	14	of	of	ADP
cjfa-34397	181	15	the	the	DET
cjfa-34397	181	16	funds	fund	NOUN
cjfa-34397	181	17	with	with	ADP
cjfa-34397	181	18	positive	positive	ADJ
cjfa-34397	181	19	estimate	estimate	NOUN
cjfa-34397	181	20	than	than	ADP
cjfa-34397	181	21	that	that	PRON
cjfa-34397	181	22	of	of	ADP
cjfa-34397	181	23	the	the	DET
cjfa-34397	181	24	funds	fund	NOUN
cjfa-34397	181	25	with	with	ADP
cjfa-34397	181	26	negative	negative	ADJ
cjfa-34397	181	27	estimate	estimate	NOUN
cjfa-34397	181	28	.	.	PUNCT
cjfa-34397	182	1	the	the	DET
cjfa-34397	182	2	bootstrap	bootstrap	NOUN
cjfa-34397	182	3	technique	technique	NOUN
cjfa-34397	182	4	helps	help	VERB
cjfa-34397	182	5	to	to	PART
cjfa-34397	182	6	find	find	VERB
cjfa-34397	182	7	the	the	DET
cjfa-34397	182	8	unbiased	unbiased	ADJ
cjfa-34397	182	9	γ	γ	NOUN
cjfa-34397	182	10	estimate	estimate	NOUN
cjfa-34397	182	11	and	and	CCONJ
cjfa-34397	182	12	to	to	PART
cjfa-34397	182	13	find	find	VERB
cjfa-34397	182	14	the	the	DET
cjfa-34397	182	15	confidence	confidence	NOUN
cjfa-34397	182	16	interval	interval	NOUN
cjfa-34397	182	17	for	for	ADP
cjfa-34397	182	18	it	it	PRON
cjfa-34397	182	19	.	.	PUNCT
cjfa-34397	183	1	the	the	DET
cjfa-34397	183	2	bias	bias	NOUN
cjfa-34397	183	3	corrected	correct	VERB
cjfa-34397	183	4	accelerated	accelerate	VERB
cjfa-34397	183	5	(	(	PUNCT
cjfa-34397	183	6	bca	bca	NOUN
cjfa-34397	183	7	)	)	PUNCT
cjfa-34397	183	8	interval	interval	NOUN
cjfa-34397	183	9	provides	provide	VERB
cjfa-34397	183	10	the	the	DET
cjfa-34397	183	11	accurate	accurate	ADJ
cjfa-34397	183	12	coverage	coverage	NOUN
cjfa-34397	183	13	after	after	ADP
cjfa-34397	183	14	correcting	correct	VERB
cjfa-34397	183	15	the	the	DET
cjfa-34397	183	16	bias	bias	NOUN
cjfa-34397	183	17	and	and	CCONJ
cjfa-34397	183	18	skewness	skewness	NOUN
cjfa-34397	183	19	in	in	ADP
cjfa-34397	183	20	bootstrap	bootstrap	NOUN
cjfa-34397	183	21	distribution	distribution	NOUN
cjfa-34397	183	22	,	,	PUNCT
cjfa-34397	183	23	if	if	SCONJ
cjfa-34397	183	24	any	any	DET
cjfa-34397	183	25	.	.	PUNCT
cjfa-34397	183	26	table	table	NOUN
cjfa-34397	183	27	3	3	NUM
cjfa-34397	183	28	exhibits	exhibit	VERB
cjfa-34397	183	29	the	the	DET
cjfa-34397	183	30	summary	summary	NOUN
cjfa-34397	183	31	of	of	ADP
cjfa-34397	183	32	the	the	DET
cjfa-34397	183	33	bootstrap	bootstrap	NOUN
cjfa-34397	183	34	with	with	ADP
cjfa-34397	183	35	1000	1000	NUM
cjfa-34397	183	36	bootstrap	bootstrap	NOUN
cjfa-34397	183	37	samples	sample	NOUN
cjfa-34397	183	38	.	.	PUNCT
cjfa-34397	184	1	table	table	NOUN
cjfa-34397	184	2	3	3	NUM
cjfa-34397	184	3	.	.	X
cjfa-34397	184	4	bootstrap	bootstrap	NOUN
cjfa-34397	184	5	summary	summary	NOUN
cjfa-34397	184	6	of	of	ADP
cjfa-34397	184	7	γ	γ	PROPN
cjfa-34397	184	8	estimate	estimate	NOUN
cjfa-34397	184	9	bootstrap	bootstrap	NOUN
cjfa-34397	184	10	estimate	estimate	NOUN
cjfa-34397	184	11	bias	bias	PROPN
cjfa-34397	184	12	s.e	s.e	PROPN
cjfa-34397	184	13	.	.	PROPN
cjfa-34397	184	14	bca	bca	PROPN
cjfa-34397	184	15	interval	interval	NOUN
cjfa-34397	184	16	treynor	treynor	PROPN
cjfa-34397	184	17	&	&	CCONJ
cjfa-34397	184	18	mazuy	mazuy	PROPN
cjfa-34397	184	19	unconditional	unconditional	ADJ
cjfa-34397	184	20	model	model	NOUN
cjfa-34397	184	21	0.3792	0.3792	NUM
cjfa-34397	184	22	0.00104	0.00104	NUM
cjfa-34397	184	23	0.0410	0.0410	NUM
cjfa-34397	184	24	(	(	PUNCT
cjfa-34397	184	25	0.3034	0.3034	NUM
cjfa-34397	184	26	,	,	PUNCT
cjfa-34397	184	27	0.4623	0.4623	NUM
cjfa-34397	184	28	)	)	PUNCT
cjfa-34397	184	29	conditional	conditional	ADJ
cjfa-34397	184	30	model	model	NOUN
cjfa-34397	184	31	0.5135	0.5135	NUM
cjfa-34397	184	32	0.00020	0.00020	NUM
cjfa-34397	185	1	0.0734	0.0734	NUM
cjfa-34397	185	2	(	(	PUNCT
cjfa-34397	185	3	0.3708	0.3708	NUM
cjfa-34397	185	4	,	,	PUNCT
cjfa-34397	185	5	0.6568	0.6568	NUM
cjfa-34397	185	6	)	)	PUNCT
cjfa-34397	185	7	henriksson	henriksson	NOUN
cjfa-34397	185	8	&	&	CCONJ
cjfa-34397	185	9	merton	merton	PROPN
cjfa-34397	185	10	unconditional	unconditional	ADJ
cjfa-34397	185	11	model	model	NOUN
cjfa-34397	185	12	0.1112	0.1112	NUM
cjfa-34397	185	13	0.00028	0.00028	NUM
cjfa-34397	185	14	0.0098	0.0098	NUM
cjfa-34397	185	15	(	(	PUNCT
cjfa-34397	185	16	0.0914	0.0914	NUM
cjfa-34397	185	17	,	,	PUNCT
cjfa-34397	185	18	0.1285	0.1285	NUM
cjfa-34397	185	19	)	)	PUNCT
cjfa-34397	185	20	conditional	conditional	ADJ
cjfa-34397	185	21	model	model	NOUN
cjfa-34397	185	22	0.4916	0.4916	NUM
cjfa-34397	185	23	0.00006	0.00006	NUM
cjfa-34397	185	24	0.0708	0.0708	NUM
cjfa-34397	185	25	(	(	PUNCT
cjfa-34397	185	26	0.3530	0.3530	NUM
cjfa-34397	185	27	,	,	PUNCT
cjfa-34397	185	28	0.6240	0.6240	NUM
cjfa-34397	185	29	)	)	PUNCT
cjfa-34397	185	30	s	s	PART
cjfa-34397	185	31	o	o	NOUN
cjfa-34397	185	32	u	u	NOUN
cjfa-34397	185	33	r	r	NOUN
cjfa-34397	185	34	c	c	NOUN
cjfa-34397	185	35	e	e	NOUN
cjfa-34397	185	36	:	:	PUNCT
cjfa-34397	185	37	authors	author	NOUN
cjfa-34397	185	38	’	'	PUNCT
cjfa-34397	185	39	calculations	calculation	NOUN
cjfa-34397	185	40	.	.	PUNCT
cjfa-34397	186	1	the	the	DET
cjfa-34397	186	2	bootstrap	bootstrap	NOUN
cjfa-34397	186	3	γ	γ	PROPN
cjfa-34397	186	4	estimates	estimate	NOUN
cjfa-34397	186	5	for	for	ADP
cjfa-34397	186	6	all	all	DET
cjfa-34397	186	7	the	the	DET
cjfa-34397	186	8	four	four	NUM
cjfa-34397	186	9	models	model	NOUN
cjfa-34397	186	10	are	be	AUX
cjfa-34397	186	11	almost	almost	ADV
cjfa-34397	186	12	the	the	DET
cjfa-34397	186	13	same	same	ADJ
cjfa-34397	186	14	as	as	ADP
cjfa-34397	186	15	the	the	DET
cjfa-34397	186	16	original	original	ADJ
cjfa-34397	186	17	γ	γ	PROPN
cjfa-34397	186	18	estimates	estimate	NOUN
cjfa-34397	186	19	in	in	ADP
cjfa-34397	186	20	a	a	DET
cjfa-34397	186	21	meaning	meaning	NOUN
cjfa-34397	186	22	that	that	SCONJ
cjfa-34397	186	23	the	the	DET
cjfa-34397	186	24	bias	bias	NOUN
cjfa-34397	186	25	is	be	AUX
cjfa-34397	186	26	very	very	ADV
cjfa-34397	186	27	less	less	ADJ
cjfa-34397	186	28	.	.	PUNCT
cjfa-34397	187	1	in	in	ADP
cjfa-34397	187	2	both	both	CCONJ
cjfa-34397	187	3	tm	tm	PROPN
cjfa-34397	187	4	and	and	CCONJ
cjfa-34397	187	5	hm	hm	PROPN
cjfa-34397	187	6	models	model	NOUN
cjfa-34397	187	7	,	,	PUNCT
cjfa-34397	187	8	the	the	DET
cjfa-34397	187	9	bca	bca	PROPN
cjfa-34397	187	10	interval	interval	NOUN
cjfa-34397	187	11	as	as	ADP
cjfa-34397	187	12	per	per	ADP
cjfa-34397	187	13	the	the	DET
cjfa-34397	187	14	unconditional	unconditional	ADJ
cjfa-34397	187	15	model	model	NOUN
cjfa-34397	187	16	is	be	AUX
cjfa-34397	187	17	narrow	narrow	ADJ
cjfa-34397	187	18	,	,	PUNCT
cjfa-34397	187	19	while	while	SCONJ
cjfa-34397	187	20	the	the	DET
cjfa-34397	187	21	interval	interval	NOUN
cjfa-34397	187	22	as	as	ADP
cjfa-34397	187	23	per	per	ADP
cjfa-34397	187	24	the	the	DET
cjfa-34397	187	25	conditional	conditional	ADJ
cjfa-34397	187	26	model	model	NOUN
cjfa-34397	187	27	is	be	AUX
cjfa-34397	187	28	broad	broad	ADJ
cjfa-34397	187	29	.	.	PUNCT
cjfa-34397	188	1	this	this	PRON
cjfa-34397	188	2	makes	make	VERB
cjfa-34397	188	3	clear	clear	ADJ
cjfa-34397	188	4	that	that	SCONJ
cjfa-34397	188	5	the	the	DET
cjfa-34397	188	6	inclusion	inclusion	NOUN
cjfa-34397	188	7	of	of	ADP
cjfa-34397	188	8	the	the	DET
cjfa-34397	188	9	pivs	pivs	ADJ
cjfa-34397	188	10	reconstitutes	reconstitute	VERB
cjfa-34397	188	11	the	the	DET
cjfa-34397	188	12	impact	impact	NOUN
cjfa-34397	188	13	of	of	ADP
cjfa-34397	188	14	the	the	DET
cjfa-34397	188	15	factors	factor	NOUN
cjfa-34397	188	16	in	in	ADP
cjfa-34397	188	17	the	the	DET
cjfa-34397	188	18	models	model	NOUN
cjfa-34397	188	19	thereby	thereby	ADV
cjfa-34397	188	20	impacting	impact	VERB
cjfa-34397	188	21	their	their	PRON
cjfa-34397	188	22	corresponding	correspond	VERB
cjfa-34397	188	23	estimates	estimate	NOUN
cjfa-34397	188	24	.	.	PUNCT
cjfa-34397	189	1	the	the	DET
cjfa-34397	189	2	distributions	distribution	NOUN
cjfa-34397	189	3	of	of	ADP
cjfa-34397	189	4	the	the	DET
cjfa-34397	189	5	γ	γ	X
cjfa-34397	189	6	estimate	estimate	NOUN
cjfa-34397	189	7	of	of	ADP
cjfa-34397	189	8	the	the	DET
cjfa-34397	189	9	bootstrap	bootstrap	NOUN
cjfa-34397	189	10	samples	sample	NOUN
cjfa-34397	189	11	(	(	PUNCT
cjfa-34397	189	12	b	b	NOUN
cjfa-34397	189	13	=	=	SYM
cjfa-34397	189	14	1000	1000	NUM
cjfa-34397	189	15	)	)	PUNCT
cjfa-34397	189	16	as	as	ADP
cjfa-34397	189	17	per	per	ADP
cjfa-34397	189	18	all	all	DET
cjfa-34397	189	19	the	the	DET
cjfa-34397	189	20	four	four	NUM
cjfa-34397	189	21	models	model	NOUN
cjfa-34397	189	22	have	have	AUX
cjfa-34397	189	23	been	be	AUX
cjfa-34397	189	24	represented	represent	VERB
cjfa-34397	189	25	in	in	ADP
cjfa-34397	189	26	figure	figure	NOUN
cjfa-34397	189	27	1	1	NUM
cjfa-34397	189	28	.	.	PUNCT
cjfa-34397	190	1	v.	v.	ADP
cjfa-34397	190	2	veeravel	veeravel	NOUN
cjfa-34397	190	3	,	,	PUNCT
cjfa-34397	190	4	s.	s.	PROPN
cjfa-34397	190	5	mohanasundaram96	mohanasundaram96	PROPN
cjfa-34397	190	6	figure	figure	NOUN
cjfa-34397	190	7	1	1	NUM
cjfa-34397	190	8	.	.	PUNCT
cjfa-34397	190	9	bootstrap	bootstrap	NOUN
cjfa-34397	190	10	distributions	distribution	NOUN
cjfa-34397	190	11	of	of	ADP
cjfa-34397	190	12	γ	γ	X
cjfa-34397	190	13	estimate	estimate	NOUN
cjfa-34397	190	14	percent	percent	NOUN
cjfa-34397	190	15	of	of	ADP
cjfa-34397	190	16	the	the	DET
cjfa-34397	190	17	sample	sample	NOUN
cjfa-34397	190	18	.	.	PUNCT
cjfa-34397	191	1	the	the	DET
cjfa-34397	191	2	positive	positive	ADJ
cjfa-34397	191	3	mean	mean	NOUN
cjfa-34397	191	4	γ	γ	NOUN
cjfa-34397	191	5	estimate	estimate	NOUN
cjfa-34397	191	6	is	be	AUX
cjfa-34397	191	7	because	because	SCONJ
cjfa-34397	191	8	of	of	ADP
cjfa-34397	191	9	the	the	DET
cjfa-34397	191	10	high	high	ADJ
cjfa-34397	191	11	magnitude	magnitude	NOUN
cjfa-34397	191	12	the	the	DET
cjfa-34397	191	13	estimate	estimate	NOUN
cjfa-34397	191	14	of	of	ADP
cjfa-34397	191	15	the	the	DET
cjfa-34397	191	16	funds	fund	NOUN
cjfa-34397	191	17	with	with	ADP
cjfa-34397	191	18	positive	positive	ADJ
cjfa-34397	191	19	estimate	estimate	NOUN
cjfa-34397	191	20	than	than	ADP
cjfa-34397	191	21	that	that	PRON
cjfa-34397	191	22	of	of	ADP
cjfa-34397	191	23	the	the	DET
cjfa-34397	191	24	funds	fund	NOUN
cjfa-34397	191	25	with	with	ADP
cjfa-34397	191	26	negative	negative	ADJ
cjfa-34397	191	27	estimate	estimate	NOUN
cjfa-34397	191	28	.	.	PUNCT
cjfa-34397	192	1	the	the	DET
cjfa-34397	192	2	bootstrap	bootstrap	NOUN
cjfa-34397	192	3	technique	technique	NOUN
cjfa-34397	192	4	helps	help	VERB
cjfa-34397	192	5	to	to	PART
cjfa-34397	192	6	find	find	VERB
cjfa-34397	192	7	the	the	DET
cjfa-34397	192	8	unbiased	unbiased	ADJ
cjfa-34397	192	9	γ	γ	NOUN
cjfa-34397	192	10	estimate	estimate	NOUN
cjfa-34397	192	11	and	and	CCONJ
cjfa-34397	192	12	to	to	PART
cjfa-34397	192	13	find	find	VERB
cjfa-34397	192	14	the	the	DET
cjfa-34397	192	15	confidence	confidence	NOUN
cjfa-34397	192	16	interval	interval	NOUN
cjfa-34397	192	17	for	for	ADP
cjfa-34397	192	18	it	it	PRON
cjfa-34397	192	19	.	.	PUNCT
cjfa-34397	193	1	the	the	DET
cjfa-34397	193	2	bias	bias	NOUN
cjfa-34397	193	3	corrected	correct	VERB
cjfa-34397	193	4	accelerated	accelerate	VERB
cjfa-34397	193	5	(	(	PUNCT
cjfa-34397	193	6	bca	bca	NOUN
cjfa-34397	193	7	)	)	PUNCT
cjfa-34397	193	8	interval	interval	NOUN
cjfa-34397	193	9	provides	provide	VERB
cjfa-34397	193	10	the	the	DET
cjfa-34397	193	11	accurate	accurate	ADJ
cjfa-34397	193	12	coverage	coverage	NOUN
cjfa-34397	193	13	after	after	ADP
cjfa-34397	193	14	correcting	correct	VERB
cjfa-34397	193	15	the	the	DET
cjfa-34397	193	16	bias	bias	NOUN
cjfa-34397	193	17	and	and	CCONJ
cjfa-34397	193	18	skewness	skewness	NOUN
cjfa-34397	193	19	in	in	ADP
cjfa-34397	193	20	bootstrap	bootstrap	NOUN
cjfa-34397	193	21	distribution	distribution	NOUN
cjfa-34397	193	22	,	,	PUNCT
cjfa-34397	193	23	if	if	SCONJ
cjfa-34397	193	24	any	any	DET
cjfa-34397	193	25	.	.	PUNCT
cjfa-34397	193	26	table	table	NOUN
cjfa-34397	193	27	3	3	NUM
cjfa-34397	193	28	exhibits	exhibit	VERB
cjfa-34397	193	29	the	the	DET
cjfa-34397	193	30	summary	summary	NOUN
cjfa-34397	193	31	of	of	ADP
cjfa-34397	193	32	the	the	DET
cjfa-34397	193	33	bootstrap	bootstrap	NOUN
cjfa-34397	193	34	with	with	ADP
cjfa-34397	193	35	1000	1000	NUM
cjfa-34397	193	36	bootstrap	bootstrap	NOUN
cjfa-34397	193	37	samples	sample	NOUN
cjfa-34397	193	38	.	.	PUNCT
cjfa-34397	194	1	table	table	NOUN
cjfa-34397	194	2	3	3	NUM
cjfa-34397	194	3	.	.	X
cjfa-34397	194	4	bootstrap	bootstrap	NOUN
cjfa-34397	194	5	summary	summary	NOUN
cjfa-34397	194	6	of	of	ADP
cjfa-34397	194	7	γ	γ	PROPN
cjfa-34397	194	8	estimate	estimate	NOUN
cjfa-34397	194	9	bootstrap	bootstrap	NOUN
cjfa-34397	194	10	estimate	estimate	NOUN
cjfa-34397	194	11	bias	bias	PROPN
cjfa-34397	194	12	s.e	s.e	PROPN
cjfa-34397	194	13	.	.	PROPN
cjfa-34397	194	14	bca	bca	PROPN
cjfa-34397	194	15	interval	interval	NOUN
cjfa-34397	194	16	treynor	treynor	PROPN
cjfa-34397	194	17	&	&	CCONJ
cjfa-34397	194	18	mazuy	mazuy	PROPN
cjfa-34397	194	19	unconditional	unconditional	ADJ
cjfa-34397	194	20	model	model	NOUN
cjfa-34397	194	21	0.3792	0.3792	NUM
cjfa-34397	194	22	0.00104	0.00104	NUM
cjfa-34397	194	23	0.0410	0.0410	NUM
cjfa-34397	194	24	(	(	PUNCT
cjfa-34397	194	25	0.3034	0.3034	NUM
cjfa-34397	194	26	,	,	PUNCT
cjfa-34397	194	27	0.4623	0.4623	NUM
cjfa-34397	194	28	)	)	PUNCT
cjfa-34397	194	29	conditional	conditional	ADJ
cjfa-34397	194	30	model	model	NOUN
cjfa-34397	194	31	0.5135	0.5135	NUM
cjfa-34397	194	32	0.00020	0.00020	NUM
cjfa-34397	195	1	0.0734	0.0734	NUM
cjfa-34397	195	2	(	(	PUNCT
cjfa-34397	195	3	0.3708	0.3708	NUM
cjfa-34397	195	4	,	,	PUNCT
cjfa-34397	195	5	0.6568	0.6568	NUM
cjfa-34397	195	6	)	)	PUNCT
cjfa-34397	195	7	henriksson	henriksson	NOUN
cjfa-34397	195	8	&	&	CCONJ
cjfa-34397	195	9	merton	merton	PROPN
cjfa-34397	195	10	unconditional	unconditional	ADJ
cjfa-34397	195	11	model	model	NOUN
cjfa-34397	195	12	0.1112	0.1112	NUM
cjfa-34397	195	13	0.00028	0.00028	NUM
cjfa-34397	195	14	0.0098	0.0098	NUM
cjfa-34397	195	15	(	(	PUNCT
cjfa-34397	195	16	0.0914	0.0914	NUM
cjfa-34397	195	17	,	,	PUNCT
cjfa-34397	195	18	0.1285	0.1285	NUM
cjfa-34397	195	19	)	)	PUNCT
cjfa-34397	195	20	conditional	conditional	ADJ
cjfa-34397	195	21	model	model	NOUN
cjfa-34397	195	22	0.4916	0.4916	NUM
cjfa-34397	195	23	0.00006	0.00006	NUM
cjfa-34397	195	24	0.0708	0.0708	NUM
cjfa-34397	195	25	(	(	PUNCT
cjfa-34397	195	26	0.3530	0.3530	NUM
cjfa-34397	195	27	,	,	PUNCT
cjfa-34397	195	28	0.6240	0.6240	NUM
cjfa-34397	195	29	)	)	PUNCT
cjfa-34397	195	30	source	source	NOUN
cjfa-34397	195	31	:	:	PUNCT
cjfa-34397	195	32	authors	author	NOUN
cjfa-34397	195	33	’	'	PUNCT
cjfa-34397	195	34	calculations	calculation	NOUN
cjfa-34397	195	35	.	.	PUNCT
cjfa-34397	196	1	figure	figure	NOUN
cjfa-34397	196	2	1	1	NUM
cjfa-34397	196	3	.	.	PUNCT
cjfa-34397	196	4	bootstrap	bootstrap	NOUN
cjfa-34397	196	5	distributions	distribution	NOUN
cjfa-34397	196	6	of	of	ADP
cjfa-34397	196	7	γ	γ	PROPN
cjfa-34397	196	8	estimate	estimate	NOUN
cjfa-34397	196	9	source	source	NOUN
cjfa-34397	196	10	:	:	PUNCT
cjfa-34397	196	11	created	create	VERB
cjfa-34397	196	12	by	by	ADP
cjfa-34397	196	13	authors	author	NOUN
cjfa-34397	196	14	using	use	VERB
cjfa-34397	196	15	r.	r.	PROPN
cjfa-34397	196	16	s	s	PART
cjfa-34397	196	17	o	o	X
cjfa-34397	196	18	u	u	NOUN
cjfa-34397	196	19	r	r	NOUN
cjfa-34397	196	20	c	c	NOUN
cjfa-34397	196	21	e	e	NOUN
cjfa-34397	196	22	:	:	PUNCT
cjfa-34397	196	23	created	create	VERB
cjfa-34397	196	24	by	by	ADP
cjfa-34397	196	25	authors	author	NOUN
cjfa-34397	196	26	using	use	VERB
cjfa-34397	196	27	r.	r.	PROPN
cjfa-34397	196	28	 	 	SPACE
cjfa-34397	196	29	conclusion	conclusion	NOUN
cjfa-34397	196	30	the	the	DET
cjfa-34397	196	31	objective	objective	NOUN
cjfa-34397	196	32	of	of	ADP
cjfa-34397	196	33	this	this	DET
cjfa-34397	196	34	paper	paper	NOUN
cjfa-34397	196	35	is	be	AUX
cjfa-34397	196	36	to	to	PART
cjfa-34397	196	37	investigate	investigate	VERB
cjfa-34397	196	38	the	the	DET
cjfa-34397	196	39	market	market	NOUN
cjfa-34397	196	40	timing	timing	NOUN
cjfa-34397	196	41	ability	ability	NOUN
cjfa-34397	196	42	(	(	PUNCT
cjfa-34397	196	43	mta	mta	PROPN
cjfa-34397	196	44	)	)	PUNCT
cjfa-34397	196	45	of	of	ADP
cjfa-34397	196	46	large	large	ADJ
cjfa-34397	196	47	-	-	PUNCT
cjfa-34397	196	48	cap	cap	NOUN
cjfa-34397	196	49	equity	equity	NOUN
cjfa-34397	196	50	funds	fund	NOUN
cjfa-34397	196	51	from	from	ADP
cjfa-34397	196	52	january	january	PROPN
cjfa-34397	196	53	,	,	PUNCT
cjfa-34397	196	54	2000	2000	NUM
cjfa-34397	196	55	to	to	ADP
cjfa-34397	196	56	december	december	PROPN
cjfa-34397	196	57	,	,	PUNCT
cjfa-34397	196	58	2019	2019	NUM
cjfa-34397	196	59	.	.	PUNCT
cjfa-34397	197	1	this	this	DET
cjfa-34397	197	2	study	study	NOUN
cjfa-34397	197	3	applies	apply	VERB
cjfa-34397	197	4	tm	tm	PROPN
cjfa-34397	197	5	and	and	CCONJ
cjfa-34397	197	6	hm	hm	PROPN
cjfa-34397	197	7	models	model	NOUN
cjfa-34397	197	8	and	and	CCONJ
cjfa-34397	197	9	their	their	PRON
cjfa-34397	197	10	extensions	extension	NOUN
cjfa-34397	197	11	termed	term	VERB
cjfa-34397	197	12	conditional	conditional	ADJ
cjfa-34397	197	13	tm	tm	NOUN
cjfa-34397	197	14	and	and	CCONJ
cjfa-34397	197	15	hm	hm	NOUN
cjfa-34397	197	16	models	model	NOUN
cjfa-34397	197	17	with	with	ADP
cjfa-34397	197	18	the	the	DET
cjfa-34397	197	19	inclusion	inclusion	NOUN
cjfa-34397	197	20	of	of	ADP
cjfa-34397	197	21	public	public	ADJ
cjfa-34397	197	22	information	information	NOUN
cjfa-34397	197	23	variables	variable	NOUN
cjfa-34397	197	24	(	(	PUNCT
cjfa-34397	197	25	pivs	pivs	ADJ
cjfa-34397	197	26	)	)	PUNCT
cjfa-34397	197	27	.	.	PUNCT
cjfa-34397	198	1	the	the	DET
cjfa-34397	198	2	results	result	NOUN
cjfa-34397	198	3	find	find	VERB
cjfa-34397	198	4	that	that	SCONJ
cjfa-34397	198	5	a	a	DET
cjfa-34397	198	6	smaller	small	ADJ
cjfa-34397	198	7	number	number	NOUN
cjfa-34397	198	8	of	of	ADP
cjfa-34397	198	9	fund	fund	NOUN
cjfa-34397	198	10	managers	manager	NOUN
cjfa-34397	198	11	have	have	VERB
cjfa-34397	198	12	significant	significant	ADJ
cjfa-34397	198	13	mta	mta	NOUN
cjfa-34397	198	14	for	for	ADP
cjfa-34397	198	15	the	the	DET
cjfa-34397	198	16	whole	whole	ADJ
cjfa-34397	198	17	study	study	NOUN
cjfa-34397	198	18	period	period	NOUN
cjfa-34397	198	19	.	.	PUNCT
cjfa-34397	199	1	around	around	ADV
cjfa-34397	199	2	46	46	NUM
cjfa-34397	199	3	percent	percent	NOUN
cjfa-34397	199	4	of	of	ADP
cjfa-34397	199	5	fund	fund	NOUN
cjfa-34397	199	6	managers	manager	NOUN
cjfa-34397	199	7	as	as	ADP
cjfa-34397	199	8	per	per	ADP
cjfa-34397	199	9	the	the	DET
cjfa-34397	199	10	unconditional	unconditional	ADJ
cjfa-34397	199	11	tm	tm	PROPN
cjfa-34397	199	12	model	model	NOUN
cjfa-34397	199	13	and	and	CCONJ
cjfa-34397	199	14	39	39	NUM
cjfa-34397	199	15	percent	percent	NOUN
cjfa-34397	199	16	of	of	ADP
cjfa-34397	199	17	the	the	DET
cjfa-34397	199	18	managers	manager	NOUN
cjfa-34397	199	19	as	as	ADP
cjfa-34397	199	20	per	per	ADP
cjfa-34397	199	21	the	the	DET
cjfa-34397	199	22	unconditional	unconditional	ADJ
cjfa-34397	199	23	hm	hm	INTJ
cjfa-34397	199	24	model	model	NOUN
cjfa-34397	199	25	show	show	VERB
cjfa-34397	199	26	significant	significant	ADJ
cjfa-34397	199	27	mta	mta	PROPN
cjfa-34397	199	28	.	.	PUNCT
cjfa-34397	200	1	these	these	DET
cjfa-34397	200	2	findings	finding	NOUN
cjfa-34397	200	3	are	be	AUX
cjfa-34397	200	4	in	in	ADP
cjfa-34397	200	5	line	line	NOUN
cjfa-34397	200	6	with	with	ADP
cjfa-34397	200	7	chang	chang	PROPN
cjfa-34397	200	8	and	and	CCONJ
cjfa-34397	200	9	lewellen	lewellen	PROPN
cjfa-34397	200	10	(	(	PUNCT
cjfa-34397	200	11	1984	1984	NUM
cjfa-34397	200	12	)	)	PUNCT
cjfa-34397	200	13	,	,	PUNCT
cjfa-34397	200	14	dhar	dhar	PROPN
cjfa-34397	200	15	and	and	CCONJ
cjfa-34397	200	16	mandal	mandal	PROPN
cjfa-34397	200	17	(	(	PUNCT
cjfa-34397	200	18	2014	2014	NUM
cjfa-34397	200	19	)	)	PUNCT
cjfa-34397	200	20	,	,	PUNCT
cjfa-34397	200	21	goetzmann	goetzmann	PROPN
cjfa-34397	200	22	,	,	PUNCT
cjfa-34397	200	23	ingersoll	ingersoll	PROPN
cjfa-34397	200	24	jr	jr	PROPN
cjfa-34397	200	25	and	and	CCONJ
cjfa-34397	200	26	ivkovic	ivkovic	PROPN
cjfa-34397	200	27	(	(	PUNCT
cjfa-34397	200	28	2000	2000	NUM
cjfa-34397	200	29	)	)	PUNCT
cjfa-34397	200	30	,	,	PUNCT
cjfa-34397	200	31	henriksson	henriksson	NOUN
cjfa-34397	200	32	and	and	CCONJ
cjfa-34397	200	33	merton	merton	PROPN
cjfa-34397	200	34	(	(	PUNCT
cjfa-34397	200	35	1981	1981	NUM
cjfa-34397	200	36	)	)	PUNCT
cjfa-34397	200	37	,	,	PUNCT
cjfa-34397	200	38	sehgal	sehgal	NOUN
cjfa-34397	200	39	and	and	CCONJ
cjfa-34397	200	40	jhanwar	jhanwar	PROPN
cjfa-34397	200	41	(	(	PUNCT
cjfa-34397	200	42	2008	2008	NUM
cjfa-34397	200	43	)	)	PUNCT
cjfa-34397	200	44	,	,	PUNCT
cjfa-34397	200	45	treynor	treynor	NOUN
cjfa-34397	200	46	and	and	CCONJ
cjfa-34397	200	47	mazuy	mazuy	PROPN
cjfa-34397	200	48	(	(	PUNCT
cjfa-34397	200	49	1966	1966	NUM
cjfa-34397	200	50	)	)	PUNCT
cjfa-34397	200	51	and	and	CCONJ
cjfa-34397	200	52	tripathy	tripathy	ADJ
cjfa-34397	200	53	(	(	PUNCT
cjfa-34397	200	54	2006	2006	NUM
cjfa-34397	200	55	)	)	PUNCT
cjfa-34397	200	56	.	.	PUNCT
cjfa-34397	201	1	the	the	DET
cjfa-34397	201	2	results	result	NOUN
cjfa-34397	201	3	of	of	ADP
cjfa-34397	201	4	the	the	DET
cjfa-34397	201	5	conditional	conditional	ADJ
cjfa-34397	201	6	versions	version	NOUN
cjfa-34397	201	7	of	of	ADP
cjfa-34397	201	8	tm	tm	PROPN
cjfa-34397	201	9	and	and	CCONJ
cjfa-34397	201	10	hm	hm	PROPN
cjfa-34397	201	11	models	model	NOUN
cjfa-34397	201	12	shows	show	VERB
cjfa-34397	201	13	that	that	SCONJ
cjfa-34397	201	14	44	44	NUM
cjfa-34397	201	15	percent	percent	NOUN
cjfa-34397	201	16	and	and	CCONJ
cjfa-34397	201	17	38	38	NUM
cjfa-34397	201	18	percent	percent	NOUN
cjfa-34397	201	19	of	of	ADP
cjfa-34397	201	20	the	the	DET
cjfa-34397	201	21	fund	fund	NOUN
cjfa-34397	201	22	market	market	NOUN
cjfa-34397	201	23	timing	timing	NOUN
cjfa-34397	201	24	abilities	ability	NOUN
cjfa-34397	201	25	of	of	ADP
cjfa-34397	201	26	large	large	ADJ
cjfa-34397	201	27	-	-	PUNCT
cjfa-34397	201	28	cap	cap	NOUN
cjfa-34397	201	29	equity	equity	NOUN
cjfa-34397	201	30	mutual	mutual	ADJ
cjfa-34397	201	31	fund	fund	NOUN
cjfa-34397	201	32	managers	manager	NOUN
cjfa-34397	201	33	…	…	PUNCT
cjfa-34397	201	34	97	97	NUM
cjfa-34397	201	35	managers	manager	NOUN
cjfa-34397	201	36	respectively	respectively	ADV
cjfa-34397	201	37	show	show	VERB
cjfa-34397	201	38	superior	superior	ADJ
cjfa-34397	201	39	mta	mta	PROPN
cjfa-34397	201	40	.	.	PUNCT
cjfa-34397	202	1	the	the	DET
cjfa-34397	202	2	evidence	evidence	NOUN
cjfa-34397	202	3	for	for	ADP
cjfa-34397	202	4	timing	timing	NOUN
cjfa-34397	202	5	ability	ability	NOUN
cjfa-34397	202	6	is	be	AUX
cjfa-34397	202	7	meagre	meagre	ADJ
cjfa-34397	202	8	.	.	PUNCT
cjfa-34397	203	1	this	this	DET
cjfa-34397	203	2	finding	finding	NOUN
cjfa-34397	203	3	is	be	AUX
cjfa-34397	203	4	consistent	consistent	ADJ
cjfa-34397	203	5	with	with	ADP
cjfa-34397	203	6	earlier	early	ADJ
cjfa-34397	203	7	studies	study	NOUN
cjfa-34397	203	8	,	,	PUNCT
cjfa-34397	203	9	becker	becker	PROPN
cjfa-34397	203	10	et	et	PROPN
cjfa-34397	203	11	al	al	PROPN
cjfa-34397	203	12	.	.	PROPN
cjfa-34397	204	1	(	(	PUNCT
cjfa-34397	204	2	1999	1999	NUM
cjfa-34397	204	3	)	)	PUNCT
cjfa-34397	204	4	,	,	PUNCT
cjfa-34397	204	5	dhar	dhar	PROPN
cjfa-34397	204	6	and	and	CCONJ
cjfa-34397	204	7	mandal	mandal	PROPN
cjfa-34397	204	8	(	(	PUNCT
cjfa-34397	204	9	2014	2014	NUM
cjfa-34397	204	10	)	)	PUNCT
cjfa-34397	204	11	and	and	CCONJ
cjfa-34397	204	12	elton	elton	PROPN
cjfa-34397	204	13	et	et	PROPN
cjfa-34397	204	14	al	al	PROPN
cjfa-34397	204	15	.	.	PROPN
cjfa-34397	205	1	(	(	PUNCT
cjfa-34397	205	2	2012	2012	NUM
cjfa-34397	205	3	)	)	PUNCT
cjfa-34397	205	4	.	.	PUNCT
cjfa-34397	206	1	the	the	DET
cjfa-34397	206	2	inclusion	inclusion	NOUN
cjfa-34397	206	3	of	of	ADP
cjfa-34397	206	4	pivs	pivs	ADJ
cjfa-34397	206	5	helps	help	NOUN
cjfa-34397	206	6	to	to	PART
cjfa-34397	206	7	strengthen	strengthen	VERB
cjfa-34397	206	8	the	the	DET
cjfa-34397	206	9	estimation	estimation	NOUN
cjfa-34397	206	10	of	of	ADP
cjfa-34397	206	11	mta	mta	PROPN
cjfa-34397	206	12	.	.	PUNCT
cjfa-34397	207	1	hence	hence	ADV
cjfa-34397	207	2	,	,	PUNCT
cjfa-34397	207	3	it	it	PRON
cjfa-34397	207	4	can	can	AUX
cjfa-34397	207	5	be	be	AUX
cjfa-34397	207	6	concluded	conclude	VERB
cjfa-34397	207	7	that	that	SCONJ
cjfa-34397	207	8	the	the	DET
cjfa-34397	207	9	bias	bias	NOUN
cjfa-34397	207	10	from	from	ADP
cjfa-34397	207	11	the	the	DET
cjfa-34397	207	12	unconditional	unconditional	ADJ
cjfa-34397	207	13	version	version	NOUN
cjfa-34397	207	14	is	be	AUX
cjfa-34397	207	15	eliminated	eliminate	VERB
cjfa-34397	207	16	by	by	ADP
cjfa-34397	207	17	controlling	control	VERB
cjfa-34397	207	18	for	for	ADP
cjfa-34397	207	19	the	the	DET
cjfa-34397	207	20	public	public	ADJ
cjfa-34397	207	21	information	information	NOUN
cjfa-34397	207	22	and	and	CCONJ
cjfa-34397	207	23	this	this	PRON
cjfa-34397	207	24	confirms	confirm	VERB
cjfa-34397	207	25	the	the	DET
cjfa-34397	207	26	findings	finding	NOUN
cjfa-34397	207	27	of	of	ADP
cjfa-34397	207	28	previous	previous	ADJ
cjfa-34397	207	29	studies	study	NOUN
cjfa-34397	207	30	(	(	PUNCT
cjfa-34397	207	31	becker	becker	PROPN
cjfa-34397	207	32	et	et	PROPN
cjfa-34397	207	33	al	al	PROPN
cjfa-34397	207	34	.	.	PROPN
cjfa-34397	207	35	,	,	PUNCT
cjfa-34397	207	36	1999	1999	NUM
cjfa-34397	207	37	;	;	PUNCT
cjfa-34397	207	38	deb	deb	PROPN
cjfa-34397	207	39	et	et	PROPN
cjfa-34397	207	40	al	al	PROPN
cjfa-34397	207	41	.	.	PROPN
cjfa-34397	207	42	,	,	PUNCT
cjfa-34397	207	43	2007	2007	NUM
cjfa-34397	207	44	;	;	PUNCT
cjfa-34397	207	45	dhar	dhar	PROPN
cjfa-34397	207	46	&	&	CCONJ
cjfa-34397	207	47	mandal	mandal	PROPN
cjfa-34397	207	48	,	,	PUNCT
cjfa-34397	207	49	2014	2014	NUM
cjfa-34397	207	50	;	;	PUNCT
cjfa-34397	207	51	ferson	ferson	PROPN
cjfa-34397	207	52	&	&	CCONJ
cjfa-34397	207	53	warther	warther	PROPN
cjfa-34397	207	54	,	,	PUNCT
cjfa-34397	207	55	1996	1996	NUM
cjfa-34397	207	56	)	)	PUNCT
cjfa-34397	207	57	.	.	PUNCT
cjfa-34397	208	1	further	far	ADV
cjfa-34397	208	2	,	,	PUNCT
cjfa-34397	208	3	there	there	PRON
cjfa-34397	208	4	is	be	VERB
cjfa-34397	208	5	no	no	DET
cjfa-34397	208	6	significant	significant	ADJ
cjfa-34397	208	7	evidence	evidence	NOUN
cjfa-34397	208	8	found	find	VERB
cjfa-34397	208	9	in	in	ADP
cjfa-34397	208	10	this	this	DET
cjfa-34397	208	11	study	study	NOUN
cjfa-34397	208	12	to	to	PART
cjfa-34397	208	13	support	support	VERB
cjfa-34397	208	14	the	the	DET
cjfa-34397	208	15	hypothesis	hypothesis	NOUN
cjfa-34397	208	16	that	that	PRON
cjfa-34397	208	17	largecap	largecap	NOUN
cjfa-34397	208	18	equity	equity	NOUN
cjfa-34397	208	19	fund	fund	NOUN
cjfa-34397	208	20	managers	manager	NOUN
cjfa-34397	208	21	in	in	ADP
cjfa-34397	208	22	india	india	PROPN
cjfa-34397	208	23	show	show	VERB
cjfa-34397	208	24	different	different	ADJ
cjfa-34397	208	25	mta	mta	PROPN
cjfa-34397	208	26	at	at	ADP
cjfa-34397	208	27	different	different	ADJ
cjfa-34397	208	28	time	time	NOUN
cjfa-34397	208	29	variations	variation	NOUN
cjfa-34397	208	30	even	even	ADV
cjfa-34397	208	31	after	after	ADP
cjfa-34397	208	32	controlling	control	VERB
cjfa-34397	208	33	for	for	ADP
cjfa-34397	208	34	the	the	DET
cjfa-34397	208	35	effect	effect	NOUN
cjfa-34397	208	36	of	of	ADP
cjfa-34397	208	37	pivs	pivs	ADJ
cjfa-34397	208	38	.	.	PUNCT
cjfa-34397	209	1	the	the	DET
cjfa-34397	209	2	mta	mta	PROPN
cjfa-34397	209	3	models	model	NOUN
cjfa-34397	209	4	may	may	AUX
cjfa-34397	209	5	support	support	VERB
cjfa-34397	209	6	only	only	ADV
cjfa-34397	209	7	for	for	ADP
cjfa-34397	209	8	a	a	DET
cjfa-34397	209	9	short	short	ADJ
cjfa-34397	209	10	-	-	PUNCT
cjfa-34397	209	11	term	term	NOUN
cjfa-34397	209	12	,	,	PUNCT
cjfa-34397	209	13	and	and	CCONJ
cjfa-34397	209	14	the	the	DET
cjfa-34397	209	15	persistent	persistent	ADJ
cjfa-34397	209	16	and	and	CCONJ
cjfa-34397	209	17	precise	precise	ADJ
cjfa-34397	209	18	forecast	forecast	NOUN
cjfa-34397	209	19	over	over	ADP
cjfa-34397	209	20	the	the	DET
cjfa-34397	209	21	longterm	longterm	NOUN
cjfa-34397	209	22	is	be	AUX
cjfa-34397	209	23	challenging	challenging	ADJ
cjfa-34397	209	24	.	.	PUNCT
cjfa-34397	210	1	therefore	therefore	ADV
cjfa-34397	210	2	,	,	PUNCT
cjfa-34397	210	3	the	the	DET
cjfa-34397	210	4	average	average	ADJ
cjfa-34397	210	5	investors	investor	NOUN
cjfa-34397	210	6	can	can	AUX
cjfa-34397	210	7	diversify	diversify	VERB
cjfa-34397	210	8	their	their	PRON
cjfa-34397	210	9	mutual	mutual	ADJ
cjfa-34397	210	10	fund	fund	NOUN
cjfa-34397	210	11	portfolios	portfolio	NOUN
cjfa-34397	210	12	in	in	ADP
cjfa-34397	210	13	the	the	DET
cjfa-34397	210	14	long	long	ADJ
cjfa-34397	210	15	-	-	PUNCT
cjfa-34397	210	16	term	term	NOUN
cjfa-34397	210	17	.	.	PUNCT
cjfa-34397	211	1	this	this	PRON
cjfa-34397	211	2	could	could	AUX
cjfa-34397	211	3	be	be	AUX
cjfa-34397	211	4	the	the	DET
cjfa-34397	211	5	best	good	ADJ
cjfa-34397	211	6	strategy	strategy	NOUN
cjfa-34397	211	7	for	for	ADP
cjfa-34397	211	8	mutual	mutual	ADJ
cjfa-34397	211	9	fund	fund	NOUN
cjfa-34397	211	10	managers	manager	NOUN
cjfa-34397	211	11	.	.	PUNCT
cjfa-34397	212	1	the	the	DET
cjfa-34397	212	2	empirical	empirical	ADJ
cjfa-34397	212	3	evidence	evidence	NOUN
cjfa-34397	212	4	out	out	ADP
cjfa-34397	212	5	of	of	ADP
cjfa-34397	212	6	this	this	DET
cjfa-34397	212	7	study	study	NOUN
cjfa-34397	212	8	on	on	ADP
cjfa-34397	212	9	mta	mta	PROPN
cjfa-34397	212	10	of	of	ADP
cjfa-34397	212	11	the	the	DET
cjfa-34397	212	12	largecap	largecap	NOUN
cjfa-34397	212	13	equity	equity	NOUN
cjfa-34397	212	14	mutual	mutual	ADJ
cjfa-34397	212	15	funds	fund	NOUN
cjfa-34397	212	16	in	in	ADP
cjfa-34397	212	17	india	india	PROPN
cjfa-34397	212	18	contributes	contribute	VERB
cjfa-34397	212	19	to	to	ADP
cjfa-34397	212	20	the	the	DET
cjfa-34397	212	21	academic	academic	ADJ
cjfa-34397	212	22	literature	literature	NOUN
cjfa-34397	212	23	.	.	PUNCT
cjfa-34397	213	1	there	there	PRON
cjfa-34397	213	2	is	be	VERB
cjfa-34397	213	3	a	a	DET
cjfa-34397	213	4	wide	wide	ADJ
cjfa-34397	213	5	scope	scope	NOUN
cjfa-34397	213	6	for	for	ADP
cjfa-34397	213	7	carrying	carry	VERB
cjfa-34397	213	8	out	out	ADP
cjfa-34397	213	9	a	a	DET
cjfa-34397	213	10	similar	similar	ADJ
cjfa-34397	213	11	study	study	NOUN
cjfa-34397	213	12	with	with	ADP
cjfa-34397	213	13	other	other	ADJ
cjfa-34397	213	14	types	type	NOUN
cjfa-34397	213	15	of	of	ADP
cjfa-34397	213	16	funds	fund	NOUN
cjfa-34397	213	17	.	.	PUNCT
cjfa-34397	213	18	 	 	SPACE
cjfa-34397	214	1	references	reference	NOUN
cjfa-34397	214	2	amfi	amfi	VERB
cjfa-34397	214	3	(	(	PUNCT
cjfa-34397	214	4	2020	2020	NUM
cjfa-34397	214	5	)	)	PUNCT
cjfa-34397	214	6	.	.	PUNCT
cjfa-34397	215	1	association	association	NOUN
cjfa-34397	215	2	of	of	ADP
cjfa-34397	215	3	mutual	mutual	ADJ
cjfa-34397	215	4	funds	fund	NOUN
cjfa-34397	215	5	in	in	ADP
cjfa-34397	215	6	india	india	PROPN
cjfa-34397	215	7	:	:	PUNCT
cjfa-34397	215	8	industry	industry	NOUN
cjfa-34397	215	9	trends	trend	NOUN
cjfa-34397	215	10	,	,	PUNCT
cjfa-34397	215	11	https://www.amfiindia.com/themes/theme1/downloads/home/industry-trends.pdf	https://www.amfiindia.com/themes/theme1/downloads/home/industry-trends.pdf	PROPN
cjfa-34397	215	12	.	.	PUNCT
cjfa-34397	216	1	bandi	bandi	PROPN
cjfa-34397	216	2	,	,	PUNCT
cjfa-34397	216	3	s.	s.	PROPN
cjfa-34397	216	4	,	,	PUNCT
cjfa-34397	216	5	&	&	CCONJ
cjfa-34397	216	6	gupta	gupta	PROPN
cjfa-34397	216	7	,	,	PUNCT
cjfa-34397	216	8	p.	p.	NOUN
cjfa-34397	216	9	(	(	PUNCT
cjfa-34397	216	10	2019	2019	NUM
cjfa-34397	216	11	)	)	PUNCT
cjfa-34397	216	12	.	.	PUNCT
cjfa-34397	217	1	performance	performance	NOUN
cjfa-34397	217	2	of	of	ADP
cjfa-34397	217	3	mutual	mutual	ADJ
cjfa-34397	217	4	funds	fund	NOUN
cjfa-34397	217	5	in	in	ADP
cjfa-34397	217	6	indian	indian	ADJ
cjfa-34397	217	7	context	context	NOUN
cjfa-34397	217	8	evaluation	evaluation	NOUN
cjfa-34397	217	9	market	market	NOUN
cjfa-34397	217	10	timing	timing	NOUN
cjfa-34397	217	11	ability	ability	NOUN
cjfa-34397	217	12	and	and	CCONJ
cjfa-34397	217	13	stock	stock	NOUN
cjfa-34397	217	14	selection	selection	NOUN
cjfa-34397	217	15	skills	skill	NOUN
cjfa-34397	217	16	of	of	ADP
cjfa-34397	217	17	the	the	DET
cjfa-34397	217	18	fund	fund	NOUN
cjfa-34397	217	19	manager	manager	NOUN
cjfa-34397	217	20	.	.	PUNCT
cjfa-34397	218	1	delhi	delhi	PROPN
cjfa-34397	218	2	business	business	PROPN
cjfa-34397	218	3	review	review	PROPN
cjfa-34397	218	4	,	,	PUNCT
cjfa-34397	218	5	20(2	20(2	NUM
cjfa-34397	218	6	)	)	PUNCT
cjfa-34397	218	7	,	,	PUNCT
cjfa-34397	218	8	67	67	NUM
cjfa-34397	218	9	-	-	SYM
cjfa-34397	218	10	78	78	NUM
cjfa-34397	218	11	.	.	PUNCT
cjfa-34397	219	1	http://dx.doi.org/10.51768/dbr.v20i2.202201907	http://dx.doi.org/10.51768/dbr.v20i2.202201907	PROPN
cjfa-34397	219	2	.	.	PUNCT
cjfa-34397	220	1	becker	becker	PROPN
cjfa-34397	220	2	,	,	PUNCT
cjfa-34397	220	3	c.	c.	PROPN
cjfa-34397	220	4	,	,	PUNCT
cjfa-34397	220	5	ferson	ferson	NOUN
cjfa-34397	220	6	,	,	PUNCT
cjfa-34397	220	7	w.	w.	PROPN
cjfa-34397	220	8	,	,	PUNCT
cjfa-34397	220	9	myers	myers	PROPN
cjfa-34397	220	10	,	,	PUNCT
cjfa-34397	220	11	d.h	d.h	PROPN
cjfa-34397	220	12	.	.	PROPN
cjfa-34397	220	13	,	,	PUNCT
cjfa-34397	220	14	&	&	CCONJ
cjfa-34397	220	15	schill	schill	PROPN
cjfa-34397	220	16	,	,	PUNCT
cjfa-34397	220	17	m.j	m.j	PROPN
cjfa-34397	220	18	.	.	PROPN
cjfa-34397	220	19	(	(	PUNCT
cjfa-34397	220	20	1999	1999	NUM
cjfa-34397	220	21	)	)	PUNCT
cjfa-34397	220	22	.	.	PUNCT
cjfa-34397	221	1	conditional	conditional	ADJ
cjfa-34397	221	2	market	market	NOUN
cjfa-34397	221	3	timing	timing	NOUN
cjfa-34397	221	4	with	with	ADP
cjfa-34397	221	5	benchmark	benchmark	NOUN
cjfa-34397	221	6	investors	investor	NOUN
cjfa-34397	221	7	.	.	PUNCT
cjfa-34397	222	1	journal	journal	PROPN
cjfa-34397	222	2	of	of	ADP
cjfa-34397	222	3	financial	financial	ADJ
cjfa-34397	222	4	economics	economic	NOUN
cjfa-34397	222	5	,	,	PUNCT
cjfa-34397	222	6	52(1	52(1	NOUN
cjfa-34397	222	7	)	)	PUNCT
cjfa-34397	222	8	,	,	PUNCT
cjfa-34397	222	9	119	119	NUM
cjfa-34397	222	10	-	-	SYM
cjfa-34397	222	11	148	148	NUM
cjfa-34397	222	12	.	.	PUNCT
cjfa-34397	223	1	http://dx.doi	http://dx.doi	NOUN
cjfa-34397	223	2	.	.	PUNCT
cjfa-34397	224	1	org/10.1016	org/10.1016	PROPN
cjfa-34397	224	2	/	/	SYM
cjfa-34397	224	3	s0304	s0304	ADJ
cjfa-34397	224	4	-	-	PUNCT
cjfa-34397	224	5	405x(99)00006	405x(99)00006	NUM
cjfa-34397	224	6	-	-	PUNCT
cjfa-34397	224	7	9	9	NUM
cjfa-34397	224	8	.	.	PUNCT
cjfa-34397	225	1	bollen	bollen	PROPN
cjfa-34397	225	2	,	,	PUNCT
cjfa-34397	225	3	n.p.b	n.p.b	ADJ
cjfa-34397	225	4	.	.	PUNCT
cjfa-34397	225	5	,	,	PUNCT
cjfa-34397	225	6	&	&	CCONJ
cjfa-34397	225	7	busse	busse	PROPN
cjfa-34397	225	8	,	,	PUNCT
cjfa-34397	225	9	j.a	j.a	PROPN
cjfa-34397	225	10	.	.	PROPN
cjfa-34397	225	11	(	(	PUNCT
cjfa-34397	225	12	2001	2001	NUM
cjfa-34397	225	13	)	)	PUNCT
cjfa-34397	225	14	.	.	PUNCT
cjfa-34397	226	1	on	on	ADP
cjfa-34397	226	2	the	the	DET
cjfa-34397	226	3	timing	timing	NOUN
cjfa-34397	226	4	ability	ability	NOUN
cjfa-34397	226	5	of	of	ADP
cjfa-34397	226	6	mutual	mutual	ADJ
cjfa-34397	226	7	fund	fund	NOUN
cjfa-34397	226	8	managers	manager	NOUN
cjfa-34397	226	9	.	.	PUNCT
cjfa-34397	227	1	the	the	DET
cjfa-34397	227	2	journal	journal	NOUN
cjfa-34397	227	3	of	of	ADP
cjfa-34397	227	4	finance	finance	NOUN
cjfa-34397	227	5	finance	finance	NOUN
cjfa-34397	227	6	,	,	PUNCT
cjfa-34397	227	7	56(3	56(3	NOUN
cjfa-34397	227	8	)	)	PUNCT
cjfa-34397	227	9	,	,	PUNCT
cjfa-34397	227	10	1075	1075	NUM
cjfa-34397	227	11	-	-	SYM
cjfa-34397	227	12	1094	1094	NUM
cjfa-34397	227	13	.	.	PUNCT
cjfa-34397	228	1	http://dx.doi.org/10.1111/j.17456622.2008.00191.x	http://dx.doi.org/10.1111/j.17456622.2008.00191.x	PROPN
cjfa-34397	228	2	.	.	PUNCT
cjfa-34397	228	3	bollen	bollen	PROPN
cjfa-34397	228	4	,	,	PUNCT
cjfa-34397	228	5	n.	n.	PROPN
cjfa-34397	228	6	,	,	PUNCT
cjfa-34397	228	7	&	&	CCONJ
cjfa-34397	228	8	pool	pool	NOUN
cjfa-34397	228	9	,	,	PUNCT
cjfa-34397	228	10	v.k	v.k	PROPN
cjfa-34397	228	11	.	.	PROPN
cjfa-34397	228	12	(	(	PUNCT
cjfa-34397	228	13	2008	2008	NUM
cjfa-34397	228	14	)	)	PUNCT
cjfa-34397	228	15	.	.	PUNCT
cjfa-34397	229	1	conditional	conditional	ADJ
cjfa-34397	229	2	return	return	NOUN
cjfa-34397	229	3	smoothing	smooth	VERB
cjfa-34397	229	4	in	in	ADP
cjfa-34397	229	5	the	the	DET
cjfa-34397	229	6	hedge	hedge	NOUN
cjfa-34397	229	7	fund	fund	NOUN
cjfa-34397	229	8	industry	industry	NOUN
cjfa-34397	229	9	.	.	PUNCT
cjfa-34397	230	1	the	the	DET
cjfa-34397	230	2	journal	journal	NOUN
cjfa-34397	230	3	of	of	ADP
cjfa-34397	230	4	financial	financial	ADJ
cjfa-34397	230	5	and	and	CCONJ
cjfa-34397	230	6	quantitative	quantitative	ADJ
cjfa-34397	230	7	analysis	analysis	NOUN
cjfa-34397	230	8	,	,	PUNCT
cjfa-34397	230	9	43(2	43(2	NUM
cjfa-34397	230	10	)	)	PUNCT
cjfa-34397	230	11	,	,	PUNCT
cjfa-34397	230	12	267	267	NUM
cjfa-34397	230	13	-	-	SYM
cjfa-34397	230	14	298	298	NUM
cjfa-34397	230	15	.	.	PUNCT
cjfa-34397	231	1	http://dx.doi	http://dx.doi	NOUN
cjfa-34397	231	2	.	.	PUNCT
cjfa-34397	232	1	org/10.1017	org/10.1017	CCONJ
cjfa-34397	232	2	/	/	SYM
cjfa-34397	232	3	s0022109000003525	s0022109000003525	NOUN
cjfa-34397	232	4	.	.	PUNCT
cjfa-34397	233	1	carhart	carhart	NOUN
cjfa-34397	233	2	,	,	PUNCT
cjfa-34397	233	3	m.m	m.m	PROPN
cjfa-34397	233	4	.	.	PROPN
cjfa-34397	233	5	(	(	PUNCT
cjfa-34397	233	6	1997	1997	NUM
cjfa-34397	233	7	)	)	PUNCT
cjfa-34397	233	8	.	.	PUNCT
cjfa-34397	234	1	on	on	ADP
cjfa-34397	234	2	persistence	persistence	NOUN
cjfa-34397	234	3	in	in	ADP
cjfa-34397	234	4	mutual	mutual	ADJ
cjfa-34397	234	5	fund	fund	NOUN
cjfa-34397	234	6	performance	performance	NOUN
cjfa-34397	234	7	.	.	PUNCT
cjfa-34397	235	1	the	the	DET
cjfa-34397	235	2	journal	journal	PROPN
cjfa-34397	235	3	of	of	ADP
cjfa-34397	235	4	finance	finance	NOUN
cjfa-34397	235	5	,	,	PUNCT
cjfa-34397	235	6	lii(1	lii(1	NOUN
cjfa-34397	235	7	)	)	PUNCT
cjfa-34397	235	8	,	,	PUNCT
cjfa-34397	235	9	57	57	NUM
cjfa-34397	235	10	-	-	SYM
cjfa-34397	235	11	82	82	NUM
cjfa-34397	235	12	.	.	PUNCT
cjfa-34397	236	1	http://dx.doi.org/10.1111/j.1540-6261.1997.tb03808.x	http://dx.doi.org/10.1111/j.1540-6261.1997.tb03808.x	PROPN
cjfa-34397	236	2	.	.	PUNCT
cjfa-34397	237	1	chang	chang	PROPN
cjfa-34397	237	2	,	,	PUNCT
cjfa-34397	237	3	e.c	e.c	PROPN
cjfa-34397	237	4	.	.	PROPN
cjfa-34397	237	5	,	,	PUNCT
cjfa-34397	237	6	&	&	CCONJ
cjfa-34397	237	7	lewellen	lewellen	PROPN
cjfa-34397	237	8	,	,	PUNCT
cjfa-34397	237	9	w.g	w.g	PROPN
cjfa-34397	237	10	.	.	PROPN
cjfa-34397	237	11	(	(	PUNCT
cjfa-34397	237	12	1984	1984	NUM
cjfa-34397	237	13	)	)	PUNCT
cjfa-34397	237	14	.	.	PUNCT
cjfa-34397	238	1	market	market	NOUN
cjfa-34397	238	2	timing	timing	NOUN
cjfa-34397	238	3	and	and	CCONJ
cjfa-34397	238	4	mutual	mutual	ADJ
cjfa-34397	238	5	fund	fund	NOUN
cjfa-34397	238	6	investment	investment	NOUN
cjfa-34397	238	7	performance	performance	NOUN
cjfa-34397	238	8	.	.	PUNCT
cjfa-34397	239	1	the	the	DET
cjfa-34397	239	2	journal	journal	NOUN
cjfa-34397	239	3	of	of	ADP
cjfa-34397	239	4	business	business	NOUN
cjfa-34397	239	5	,	,	PUNCT
cjfa-34397	239	6	57(1	57(1	NUM
cjfa-34397	239	7	)	)	PUNCT
cjfa-34397	239	8	,	,	PUNCT
cjfa-34397	239	9	57	57	NUM
cjfa-34397	239	10	-	-	SYM
cjfa-34397	239	11	72	72	NUM
cjfa-34397	239	12	.	.	PUNCT
cjfa-34397	240	1	http://dx.doi.org/10.1086/296224	http://dx.doi.org/10.1086/296224	PROPN
cjfa-34397	240	2	.	.	PUNCT
cjfa-34397	241	1	chen	chen	PROPN
cjfa-34397	241	2	,	,	PUNCT
cjfa-34397	241	3	y.	y.	PROPN
cjfa-34397	241	4	,	,	PUNCT
cjfa-34397	241	5	&	&	CCONJ
cjfa-34397	241	6	liang	liang	PROPN
cjfa-34397	241	7	,	,	PUNCT
cjfa-34397	241	8	b.	b.	PROPN
cjfa-34397	241	9	(	(	PUNCT
cjfa-34397	241	10	2007	2007	NUM
cjfa-34397	241	11	)	)	PUNCT
cjfa-34397	241	12	.	.	PUNCT
cjfa-34397	242	1	do	do	AUX
cjfa-34397	242	2	market	market	NOUN
cjfa-34397	242	3	timing	timing	NOUN
cjfa-34397	242	4	hedge	hedge	NOUN
cjfa-34397	242	5	funds	fund	NOUN
cjfa-34397	242	6	time	time	VERB
cjfa-34397	242	7	the	the	DET
cjfa-34397	242	8	market	market	NOUN
cjfa-34397	242	9	?	?	PUNCT
cjfa-34397	243	1	journal	journal	NOUN
cjfa-34397	243	2	of	of	ADP
cjfa-34397	243	3	financial	financial	ADJ
cjfa-34397	243	4	and	and	CCONJ
cjfa-34397	243	5	quantitative	quantitative	ADJ
cjfa-34397	243	6	analysis	analysis	NOUN
cjfa-34397	243	7	,	,	PUNCT
cjfa-34397	243	8	42(4	42(4	PROPN
cjfa-34397	243	9	)	)	PUNCT
cjfa-34397	243	10	,	,	PUNCT
cjfa-34397	243	11	827	827	NUM
cjfa-34397	243	12	-	-	SYM
cjfa-34397	243	13	856	856	NUM
cjfa-34397	243	14	.	.	PUNCT
cjfa-34397	244	1	http://dx.doi.org/10.1017/	http://dx.doi.org/10.1017/	PROPN
cjfa-34397	244	2	s0022109000003410	s0022109000003410	PROPN
cjfa-34397	244	3	.	.	PUNCT
cjfa-34397	245	1	v.	v.	ADP
cjfa-34397	245	2	veeravel	veeravel	NOUN
cjfa-34397	245	3	,	,	PUNCT
cjfa-34397	245	4	s.	s.	PROPN
cjfa-34397	245	5	mohanasundaram98	mohanasundaram98	PROPN
cjfa-34397	245	6	chopra	chopra	PROPN
cjfa-34397	245	7	,	,	PUNCT
cjfa-34397	245	8	m.p	m.p	PROPN
cjfa-34397	245	9	.	.	PROPN
cjfa-34397	245	10	(	(	PUNCT
cjfa-34397	245	11	2011	2011	NUM
cjfa-34397	245	12	)	)	PUNCT
cjfa-34397	245	13	.	.	PUNCT
cjfa-34397	246	1	do	do	AUX
cjfa-34397	246	2	indian	indian	PROPN
cjfa-34397	246	3	mutual	mutual	ADJ
cjfa-34397	246	4	fund	fund	NOUN
cjfa-34397	246	5	managers	manager	NOUN
cjfa-34397	246	6	select	select	VERB
cjfa-34397	246	7	the	the	DET
cjfa-34397	246	8	stock	stock	NOUN
cjfa-34397	246	9	and	and	CCONJ
cjfa-34397	246	10	time	time	NOUN
cjfa-34397	246	11	the	the	DET
cjfa-34397	246	12	market	market	NOUN
cjfa-34397	246	13	correctly	correctly	ADV
cjfa-34397	246	14	?	?	PUNCT
cjfa-34397	247	1	iup	iup	PROPN
cjfa-34397	247	2	journal	journal	PROPN
cjfa-34397	247	3	of	of	ADP
cjfa-34397	247	4	applied	apply	VERB
cjfa-34397	247	5	finance	finance	NOUN
cjfa-34397	247	6	,	,	PUNCT
cjfa-34397	247	7	17(2	17(2	NUM
cjfa-34397	247	8	)	)	PUNCT
cjfa-34397	247	9	,	,	PUNCT
cjfa-34397	247	10	78	78	NUM
cjfa-34397	247	11	-	-	SYM
cjfa-34397	247	12	88	88	NUM
cjfa-34397	247	13	.	.	PUNCT
cjfa-34397	248	1	christensen	christensen	PROPN
cjfa-34397	248	2	,	,	PUNCT
cjfa-34397	248	3	m.	m.	NOUN
cjfa-34397	248	4	(	(	PUNCT
cjfa-34397	248	5	2005	2005	NUM
cjfa-34397	248	6	)	)	PUNCT
cjfa-34397	248	7	.	.	PUNCT
cjfa-34397	249	1	danish	danish	PROPN
cjfa-34397	249	2	mutual	mutual	ADJ
cjfa-34397	249	3	fund	fund	NOUN
cjfa-34397	249	4	performance	performance	NOUN
cjfa-34397	249	5	—	—	PUNCT
cjfa-34397	249	6	selectivity	selectivity	NOUN
cjfa-34397	249	7	,	,	PUNCT
cjfa-34397	249	8	market	market	NOUN
cjfa-34397	249	9	timing	timing	NOUN
cjfa-34397	249	10	and	and	CCONJ
cjfa-34397	249	11	persistence	persistence	NOUN
cjfa-34397	249	12	.	.	PUNCT
cjfa-34397	250	1	finance	finance	NOUN
cjfa-34397	250	2	research	research	NOUN
cjfa-34397	250	3	group	group	NOUN
cjfa-34397	250	4	.	.	PUNCT
cjfa-34397	251	1	research	research	NOUN
cjfa-34397	251	2	group	group	NOUN
cjfa-34397	251	3	working	working	NOUN
cjfa-34397	251	4	paper	paper	NOUN
cjfa-34397	251	5	,	,	PUNCT
cjfa-34397	251	6	f-2005	f-2005	VERB
cjfa-34397	251	7	-	-	SYM
cjfa-34397	251	8	1	1	NUM
cjfa-34397	251	9	.	.	PUNCT
cjfa-34397	252	1	http://dx.doi.org/10.2139/ssrn.670701	http://dx.doi.org/10.2139/ssrn.670701	PROPN
cjfa-34397	252	2	.	.	PUNCT
cjfa-34397	252	3	cuthbertson	cuthbertson	PROPN
cjfa-34397	252	4	,	,	PUNCT
cjfa-34397	252	5	k.	k.	PROPN
cjfa-34397	252	6	,	,	PUNCT
cjfa-34397	252	7	&	&	CCONJ
cjfa-34397	252	8	nitzsche	nitzsche	PROPN
cjfa-34397	252	9	,	,	PUNCT
cjfa-34397	252	10	d.	d.	PROPN
cjfa-34397	252	11	(	(	PUNCT
cjfa-34397	252	12	2013	2013	NUM
cjfa-34397	252	13	)	)	PUNCT
cjfa-34397	252	14	.	.	PUNCT
cjfa-34397	253	1	performance	performance	NOUN
cjfa-34397	253	2	,	,	PUNCT
cjfa-34397	253	3	stock	stock	NOUN
cjfa-34397	253	4	selection	selection	NOUN
cjfa-34397	253	5	and	and	CCONJ
cjfa-34397	253	6	market	market	NOUN
cjfa-34397	253	7	timing	timing	NOUN
cjfa-34397	253	8	of	of	ADP
cjfa-34397	253	9	the	the	DET
cjfa-34397	253	10	german	german	ADJ
cjfa-34397	253	11	equity	equity	NOUN
cjfa-34397	253	12	mutual	mutual	ADJ
cjfa-34397	253	13	fund	fund	NOUN
cjfa-34397	253	14	industry	industry	NOUN
cjfa-34397	253	15	.	.	PUNCT
cjfa-34397	254	1	journal	journal	PROPN
cjfa-34397	254	2	of	of	ADP
cjfa-34397	254	3	empirical	empirical	ADJ
cjfa-34397	254	4	finance	finance	NOUN
cjfa-34397	254	5	,	,	PUNCT
cjfa-34397	254	6	21(1	21(1	NUM
cjfa-34397	254	7	)	)	PUNCT
cjfa-34397	254	8	,	,	PUNCT
cjfa-34397	254	9	86101	86101	NUM
cjfa-34397	254	10	.	.	PUNCT
cjfa-34397	255	1	http://dx.doi.org/10.1016/j.jempfin.2012.12.002	http://dx.doi.org/10.1016/j.jempfin.2012.12.002	PROPN
cjfa-34397	255	2	.	.	PROPN
cjfa-34397	255	3	deb	deb	PROPN
cjfa-34397	255	4	,	,	PUNCT
cjfa-34397	255	5	s.g	s.g	PROPN
cjfa-34397	255	6	.	.	PROPN
cjfa-34397	255	7	(	(	PUNCT
cjfa-34397	255	8	2019	2019	NUM
cjfa-34397	255	9	)	)	PUNCT
cjfa-34397	255	10	.	.	PUNCT
cjfa-34397	256	1	persistence	persistence	NOUN
cjfa-34397	256	2	in	in	ADP
cjfa-34397	256	3	performance	performance	NOUN
cjfa-34397	256	4	of	of	ADP
cjfa-34397	256	5	actively	actively	ADV
cjfa-34397	256	6	managed	manage	VERB
cjfa-34397	256	7	equity	equity	NOUN
cjfa-34397	256	8	mutual	mutual	ADJ
cjfa-34397	256	9	funds	fund	NOUN
cjfa-34397	256	10	:	:	PUNCT
cjfa-34397	256	11	new	new	ADJ
cjfa-34397	256	12	indian	indian	ADJ
cjfa-34397	256	13	evidence	evidence	NOUN
cjfa-34397	256	14	.	.	PUNCT
cjfa-34397	257	1	iimb	iimb	PROPN
cjfa-34397	257	2	management	management	PROPN
cjfa-34397	257	3	review	review	PROPN
cjfa-34397	257	4	,	,	PUNCT
cjfa-34397	257	5	31(2	31(2	NUM
cjfa-34397	257	6	)	)	PUNCT
cjfa-34397	257	7	,	,	PUNCT
cjfa-34397	257	8	145	145	NUM
cjfa-34397	257	9	-	-	SYM
cjfa-34397	257	10	156	156	NUM
cjfa-34397	257	11	.	.	PUNCT
cjfa-34397	258	1	http://dx.doi	http://dx.doi	NOUN
cjfa-34397	258	2	.	.	PUNCT
cjfa-34397	259	1	org/10.1016	org/10.1016	PROPN
cjfa-34397	259	2	/	/	SYM
cjfa-34397	259	3	j.iimb.2019.03.014	j.iimb.2019.03.014	PROPN
cjfa-34397	259	4	.	.	PUNCT
cjfa-34397	260	1	deb	deb	PROPN
cjfa-34397	260	2	,	,	PUNCT
cjfa-34397	260	3	s.g	s.g	PROPN
cjfa-34397	260	4	.	.	PROPN
cjfa-34397	260	5	,	,	PUNCT
cjfa-34397	260	6	banerjee	banerjee	PROPN
cjfa-34397	260	7	,	,	PUNCT
cjfa-34397	260	8	a.	a.	PROPN
cjfa-34397	260	9	,	,	PUNCT
cjfa-34397	260	10	&	&	CCONJ
cjfa-34397	260	11	chakrabarti	chakrabarti	PROPN
cjfa-34397	260	12	,	,	PUNCT
cjfa-34397	260	13	b.b	b.b	PROPN
cjfa-34397	260	14	.	.	PROPN
cjfa-34397	260	15	(	(	PUNCT
cjfa-34397	260	16	2007	2007	NUM
cjfa-34397	260	17	)	)	PUNCT
cjfa-34397	260	18	.	.	PUNCT
cjfa-34397	261	1	market	market	NOUN
cjfa-34397	261	2	timing	timing	NOUN
cjfa-34397	261	3	and	and	CCONJ
cjfa-34397	261	4	stock	stock	NOUN
cjfa-34397	261	5	selection	selection	NOUN
cjfa-34397	261	6	ability	ability	NOUN
cjfa-34397	261	7	of	of	ADP
cjfa-34397	261	8	mutual	mutual	ADJ
cjfa-34397	261	9	funds	fund	NOUN
cjfa-34397	261	10	in	in	ADP
cjfa-34397	261	11	india	india	PROPN
cjfa-34397	261	12	:	:	PUNCT
cjfa-34397	261	13	an	an	DET
cjfa-34397	261	14	empirical	empirical	ADJ
cjfa-34397	261	15	investigation	investigation	NOUN
cjfa-34397	261	16	.	.	PUNCT
cjfa-34397	262	1	vikalpa	vikalpa	NOUN
cjfa-34397	262	2	,	,	PUNCT
cjfa-34397	262	3	32(2	32(2	NUM
cjfa-34397	262	4	)	)	PUNCT
cjfa-34397	262	5	,	,	PUNCT
cjfa-34397	262	6	39	39	NUM
cjfa-34397	262	7	-	-	SYM
cjfa-34397	262	8	51	51	NUM
cjfa-34397	262	9	.	.	PUNCT
cjfa-34397	263	1	http://dx.doi.org/10.1177/0256090920070204	http://dx.doi.org/10.1177/0256090920070204	PROPN
cjfa-34397	263	2	.	.	PUNCT
cjfa-34397	264	1	dhar	dhar	PROPN
cjfa-34397	264	2	,	,	PUNCT
cjfa-34397	264	3	j.	j.	PROPN
cjfa-34397	264	4	,	,	PUNCT
cjfa-34397	264	5	&	&	CCONJ
cjfa-34397	264	6	mandal	mandal	PROPN
cjfa-34397	264	7	,	,	PUNCT
cjfa-34397	264	8	k.	k.	PROPN
cjfa-34397	264	9	(	(	PUNCT
cjfa-34397	264	10	2014	2014	NUM
cjfa-34397	264	11	)	)	PUNCT
cjfa-34397	264	12	.	.	PUNCT
cjfa-34397	265	1	market	market	NOUN
cjfa-34397	265	2	timing	timing	NOUN
cjfa-34397	265	3	abilities	ability	NOUN
cjfa-34397	265	4	of	of	ADP
cjfa-34397	265	5	indian	indian	ADJ
cjfa-34397	265	6	mutual	mutual	ADJ
cjfa-34397	265	7	fund	fund	NOUN
cjfa-34397	265	8	managers	manager	NOUN
cjfa-34397	265	9	:	:	PUNCT
cjfa-34397	265	10	an	an	DET
cjfa-34397	265	11	empirical	empirical	ADJ
cjfa-34397	265	12	analysis	analysis	NOUN
cjfa-34397	265	13	.	.	PUNCT
cjfa-34397	266	1	decision	decision	NOUN
cjfa-34397	266	2	,	,	PUNCT
cjfa-34397	266	3	41(3	41(3	NUM
cjfa-34397	266	4	)	)	PUNCT
cjfa-34397	266	5	,	,	PUNCT
cjfa-34397	266	6	299	299	NUM
cjfa-34397	266	7	-	-	SYM
cjfa-34397	266	8	311	311	NUM
cjfa-34397	266	9	.	.	PUNCT
cjfa-34397	267	1	http://dx.doi.org/10.1007/s40622014-0036-2	http://dx.doi.org/10.1007/s40622014-0036-2	X
cjfa-34397	267	2	.	.	PUNCT
cjfa-34397	268	1	elton	elton	PROPN
cjfa-34397	268	2	,	,	PUNCT
cjfa-34397	268	3	e.j	e.j	PROPN
cjfa-34397	268	4	.	.	PROPN
cjfa-34397	268	5	,	,	PUNCT
cjfa-34397	268	6	gruber	gruber	PROPN
cjfa-34397	268	7	,	,	PUNCT
cjfa-34397	268	8	m.j	m.j	PROPN
cjfa-34397	268	9	.	.	PROPN
cjfa-34397	268	10	,	,	PUNCT
cjfa-34397	268	11	&	&	CCONJ
cjfa-34397	268	12	blake	blake	PROPN
cjfa-34397	268	13	,	,	PUNCT
cjfa-34397	268	14	c.r	c.r	PROPN
cjfa-34397	268	15	.	.	PROPN
cjfa-34397	268	16	(	(	PUNCT
cjfa-34397	268	17	2012	2012	NUM
cjfa-34397	268	18	)	)	PUNCT
cjfa-34397	268	19	.	.	PUNCT
cjfa-34397	269	1	an	an	DET
cjfa-34397	269	2	examination	examination	NOUN
cjfa-34397	269	3	of	of	ADP
cjfa-34397	269	4	mutual	mutual	ADJ
cjfa-34397	269	5	fund	fund	NOUN
cjfa-34397	269	6	timing	timing	NOUN
cjfa-34397	269	7	ability	ability	NOUN
cjfa-34397	269	8	using	use	VERB
cjfa-34397	269	9	monthly	monthly	ADJ
cjfa-34397	269	10	holdings	holding	NOUN
cjfa-34397	269	11	data	datum	NOUN
cjfa-34397	269	12	.	.	PUNCT
cjfa-34397	270	1	review	review	NOUN
cjfa-34397	270	2	of	of	ADP
cjfa-34397	270	3	finance	finance	NOUN
cjfa-34397	270	4	,	,	PUNCT
cjfa-34397	270	5	16(3	16(3	NOUN
cjfa-34397	270	6	)	)	PUNCT
cjfa-34397	270	7	,	,	PUNCT
cjfa-34397	270	8	619	619	NUM
cjfa-34397	270	9	-	-	SYM
cjfa-34397	270	10	645	645	NUM
cjfa-34397	270	11	.	.	PUNCT
cjfa-34397	271	1	http://dx.doi	http://dx.doi	NOUN
cjfa-34397	271	2	.	.	PUNCT
cjfa-34397	272	1	org/10.1093	org/10.1093	PROPN
cjfa-34397	272	2	/	/	SYM
cjfa-34397	272	3	rof	rof	PROPN
cjfa-34397	272	4	/	/	SYM
cjfa-34397	272	5	rfr007	rfr007	ADJ
cjfa-34397	272	6	.	.	PUNCT
cjfa-34397	273	1	fama	fama	PROPN
cjfa-34397	273	2	,	,	PUNCT
cjfa-34397	273	3	f.	f.	PROPN
cjfa-34397	273	4	,	,	PUNCT
cjfa-34397	273	5	&	&	CCONJ
cjfa-34397	273	6	french	french	PROPN
cjfa-34397	273	7	,	,	PUNCT
cjfa-34397	273	8	r.	r.	PROPN
cjfa-34397	273	9	(	(	PUNCT
cjfa-34397	273	10	1993	1993	NUM
cjfa-34397	273	11	)	)	PUNCT
cjfa-34397	273	12	.	.	PUNCT
cjfa-34397	274	1	common	common	ADJ
cjfa-34397	274	2	risk	risk	NOUN
cjfa-34397	274	3	factors	factor	NOUN
cjfa-34397	274	4	in	in	ADP
cjfa-34397	274	5	the	the	DET
cjfa-34397	274	6	returns	return	NOUN
cjfa-34397	274	7	on	on	ADP
cjfa-34397	274	8	stocks	stock	NOUN
cjfa-34397	274	9	and	and	CCONJ
cjfa-34397	274	10	bonds	bond	NOUN
cjfa-34397	274	11	.	.	PUNCT
cjfa-34397	275	1	journal	journal	NOUN
cjfa-34397	275	2	of	of	ADP
cjfa-34397	275	3	financial	financial	ADJ
cjfa-34397	275	4	economics	economic	NOUN
cjfa-34397	275	5	,	,	PUNCT
cjfa-34397	275	6	33(1	33(1	NUM
cjfa-34397	275	7	)	)	PUNCT
cjfa-34397	275	8	,	,	PUNCT
cjfa-34397	275	9	3	3	NUM
cjfa-34397	275	10	-	-	SYM
cjfa-34397	275	11	56	56	NUM
cjfa-34397	275	12	.	.	PUNCT
cjfa-34397	276	1	http://dx.doi.org/10.1016/0304405x(93)90023-5	http://dx.doi.org/10.1016/0304405x(93)90023-5	PROPN
cjfa-34397	276	2	.	.	PUNCT
cjfa-34397	276	3	ferson	ferson	PROPN
cjfa-34397	276	4	,	,	PUNCT
cjfa-34397	276	5	w.e	w.e	PROPN
cjfa-34397	276	6	.	.	PROPN
cjfa-34397	276	7	,	,	PUNCT
cjfa-34397	276	8	&	&	CCONJ
cjfa-34397	276	9	schadt	schadt	NOUN
cjfa-34397	276	10	,	,	PUNCT
cjfa-34397	276	11	r.w	r.w	PROPN
cjfa-34397	276	12	.	.	PROPN
cjfa-34397	276	13	(	(	PUNCT
cjfa-34397	276	14	1996	1996	NUM
cjfa-34397	276	15	)	)	PUNCT
cjfa-34397	276	16	.	.	PUNCT
cjfa-34397	277	1	measuring	measure	VERB
cjfa-34397	277	2	fund	fund	NOUN
cjfa-34397	277	3	strategy	strategy	NOUN
cjfa-34397	277	4	and	and	CCONJ
cjfa-34397	277	5	performance	performance	NOUN
cjfa-34397	277	6	in	in	ADP
cjfa-34397	277	7	changing	change	VERB
cjfa-34397	277	8	economic	economic	ADJ
cjfa-34397	277	9	conditions	condition	NOUN
cjfa-34397	277	10	.	.	PUNCT
cjfa-34397	278	1	the	the	DET
cjfa-34397	278	2	journal	journal	PROPN
cjfa-34397	278	3	of	of	ADP
cjfa-34397	278	4	finance	finance	NOUN
cjfa-34397	278	5	,	,	PUNCT
cjfa-34397	278	6	51(2	51(2	NUM
cjfa-34397	278	7	)	)	PUNCT
cjfa-34397	278	8	,	,	PUNCT
cjfa-34397	278	9	425	425	NUM
cjfa-34397	278	10	-	-	SYM
cjfa-34397	278	11	461	461	NUM
cjfa-34397	278	12	.	.	PUNCT
cjfa-34397	279	1	ferson	ferson	PROPN
cjfa-34397	279	2	,	,	PUNCT
cjfa-34397	279	3	w.e	w.e	PROPN
cjfa-34397	279	4	.	.	PROPN
cjfa-34397	279	5	,	,	PUNCT
cjfa-34397	279	6	&	&	CCONJ
cjfa-34397	279	7	warther	warther	PROPN
cjfa-34397	279	8	,	,	PUNCT
cjfa-34397	279	9	v.a	v.a	PROPN
cjfa-34397	279	10	.	.	PROPN
cjfa-34397	279	11	(	(	PUNCT
cjfa-34397	279	12	1996	1996	NUM
cjfa-34397	279	13	)	)	PUNCT
cjfa-34397	279	14	.	.	PUNCT
cjfa-34397	280	1	evaluating	evaluate	VERB
cjfa-34397	280	2	fund	fund	NOUN
cjfa-34397	280	3	performance	performance	NOUN
cjfa-34397	280	4	in	in	ADP
cjfa-34397	280	5	a	a	DET
cjfa-34397	280	6	dynamic	dynamic	ADJ
cjfa-34397	280	7	market	market	NOUN
cjfa-34397	280	8	.	.	PUNCT
cjfa-34397	281	1	financial	financial	ADJ
cjfa-34397	281	2	analysts	analyst	NOUN
cjfa-34397	281	3	journal	journal	NOUN
cjfa-34397	281	4	,	,	PUNCT
cjfa-34397	281	5	52(6	52(6	PROPN
cjfa-34397	281	6	)	)	PUNCT
cjfa-34397	281	7	,	,	PUNCT
cjfa-34397	281	8	20	20	NUM
cjfa-34397	281	9	-	-	SYM
cjfa-34397	281	10	28	28	NUM
cjfa-34397	281	11	.	.	PUNCT
cjfa-34397	282	1	http://dx.doi.org/10.2469/faj.v52.n6.2037	http://dx.doi.org/10.2469/faj.v52.n6.2037	VERB
cjfa-34397	282	2	.	.	PUNCT
cjfa-34397	282	3	fletcher	fletcher	PROPN
cjfa-34397	282	4	,	,	PUNCT
cjfa-34397	282	5	j.	j.	PROPN
cjfa-34397	282	6	(	(	PUNCT
cjfa-34397	282	7	1995	1995	NUM
cjfa-34397	282	8	)	)	PUNCT
cjfa-34397	282	9	.	.	PUNCT
cjfa-34397	283	1	an	an	DET
cjfa-34397	283	2	examination	examination	NOUN
cjfa-34397	283	3	of	of	ADP
cjfa-34397	283	4	the	the	DET
cjfa-34397	283	5	selectivity	selectivity	NOUN
cjfa-34397	283	6	and	and	CCONJ
cjfa-34397	283	7	market	market	NOUN
cjfa-34397	283	8	timing	timing	NOUN
cjfa-34397	283	9	performance	performance	NOUN
cjfa-34397	283	10	of	of	ADP
cjfa-34397	283	11	uk	uk	PROPN
cjfa-34397	283	12	unit	unit	NOUN
cjfa-34397	283	13	trusts	trust	NOUN
cjfa-34397	283	14	.	.	PUNCT
cjfa-34397	284	1	journal	journal	PROPN
cjfa-34397	284	2	of	of	ADP
cjfa-34397	284	3	business	business	NOUN
cjfa-34397	284	4	finance	finance	PROPN
cjfa-34397	284	5	&	&	CCONJ
cjfa-34397	284	6	accounting	accounting	PROPN
cjfa-34397	284	7	,	,	PUNCT
cjfa-34397	284	8	22(1	22(1	NUM
cjfa-34397	284	9	)	)	PUNCT
cjfa-34397	284	10	,	,	PUNCT
cjfa-34397	284	11	143	143	NUM
cjfa-34397	284	12	-	-	SYM
cjfa-34397	284	13	156	156	NUM
cjfa-34397	284	14	.	.	PUNCT
cjfa-34397	285	1	http://	http://	PROPN
cjfa-34397	285	2	dx.doi.org/10.1111/j.1468-5957.1995.tb00676.x	dx.doi.org/10.1111/j.1468-5957.1995.tb00676.x	PROPN
cjfa-34397	285	3	.	.	PROPN
cjfa-34397	285	4	goetzmann	goetzmann	PROPN
cjfa-34397	285	5	,	,	PUNCT
cjfa-34397	285	6	w.n	w.n	PROPN
cjfa-34397	285	7	.	.	PROPN
cjfa-34397	285	8	,	,	PUNCT
cjfa-34397	285	9	ingersoll	ingersoll	PROPN
cjfa-34397	285	10	jr	jr	PROPN
cjfa-34397	285	11	,	,	PUNCT
cjfa-34397	285	12	j.e	j.e	PROPN
cjfa-34397	285	13	.	.	PROPN
cjfa-34397	285	14	,	,	PUNCT
cjfa-34397	285	15	&	&	CCONJ
cjfa-34397	285	16	ivkovic	ivkovic	PROPN
cjfa-34397	285	17	,	,	PUNCT
cjfa-34397	285	18	z.	z.	PROPN
cjfa-34397	285	19	(	(	PUNCT
cjfa-34397	285	20	2000	2000	NUM
cjfa-34397	285	21	)	)	PUNCT
cjfa-34397	285	22	.	.	PUNCT
cjfa-34397	286	1	monthly	monthly	ADJ
cjfa-34397	286	2	measurement	measurement	NOUN
cjfa-34397	286	3	of	of	ADP
cjfa-34397	286	4	daily	daily	ADJ
cjfa-34397	286	5	timers	timer	NOUN
cjfa-34397	286	6	.	.	PUNCT
cjfa-34397	287	1	the	the	DET
cjfa-34397	287	2	journal	journal	NOUN
cjfa-34397	287	3	of	of	ADP
cjfa-34397	287	4	financial	financial	ADJ
cjfa-34397	287	5	and	and	CCONJ
cjfa-34397	287	6	quantitative	quantitative	ADJ
cjfa-34397	287	7	analysis	analysis	NOUN
cjfa-34397	287	8	,	,	PUNCT
cjfa-34397	287	9	35(3	35(3	NUM
cjfa-34397	287	10	)	)	PUNCT
cjfa-34397	287	11	,	,	PUNCT
cjfa-34397	287	12	257	257	NUM
cjfa-34397	287	13	-	-	SYM
cjfa-34397	287	14	290	290	NUM
cjfa-34397	287	15	.	.	PUNCT
cjfa-34397	288	1	http://	http://	PROPN
cjfa-34397	288	2	dx.doi.org/10.2307/2676204	dx.doi.org/10.2307/2676204	NOUN
cjfa-34397	288	3	.	.	PUNCT
cjfa-34397	289	1	grinblatt	grinblatt	PROPN
cjfa-34397	289	2	,	,	PUNCT
cjfa-34397	289	3	m.	m.	NOUN
cjfa-34397	289	4	,	,	PUNCT
cjfa-34397	289	5	&	&	CCONJ
cjfa-34397	289	6	titman	titman	PROPN
cjfa-34397	289	7	,	,	PUNCT
cjfa-34397	289	8	s.	s.	PROPN
cjfa-34397	289	9	(	(	PUNCT
cjfa-34397	289	10	1989	1989	NUM
cjfa-34397	289	11	)	)	PUNCT
cjfa-34397	289	12	.	.	PUNCT
cjfa-34397	290	1	mutual	mutual	ADJ
cjfa-34397	290	2	fund	fund	NOUN
cjfa-34397	290	3	performance	performance	NOUN
cjfa-34397	290	4	:	:	PUNCT
cjfa-34397	290	5	an	an	DET
cjfa-34397	290	6	analysis	analysis	NOUN
cjfa-34397	290	7	of	of	ADP
cjfa-34397	290	8	quarterly	quarterly	ADJ
cjfa-34397	290	9	portfolio	portfolio	NOUN
cjfa-34397	290	10	holdings	holding	NOUN
cjfa-34397	290	11	.	.	PUNCT
cjfa-34397	291	1	the	the	DET
cjfa-34397	291	2	journal	journal	NOUN
cjfa-34397	291	3	of	of	ADP
cjfa-34397	291	4	business	business	NOUN
cjfa-34397	291	5	,	,	PUNCT
cjfa-34397	291	6	62(3	62(3	NOUN
cjfa-34397	291	7	)	)	PUNCT
cjfa-34397	291	8	,	,	PUNCT
cjfa-34397	291	9	393	393	NUM
cjfa-34397	291	10	-	-	SYM
cjfa-34397	291	11	416	416	NUM
cjfa-34397	291	12	.	.	PUNCT
cjfa-34397	292	1	http://dx.doi	http://dx.doi	NOUN
cjfa-34397	292	2	.	.	PUNCT
cjfa-34397	293	1	org/10.1086/296468	org/10.1086/296468	NOUN
cjfa-34397	293	2	.	.	PUNCT
cjfa-34397	294	1	henriksson	henriksson	PROPN
cjfa-34397	294	2	,	,	PUNCT
cjfa-34397	294	3	r.d	r.d	PROPN
cjfa-34397	294	4	.	.	PROPN
cjfa-34397	294	5	,	,	PUNCT
cjfa-34397	294	6	&	&	CCONJ
cjfa-34397	294	7	merton	merton	PROPN
cjfa-34397	294	8	,	,	PUNCT
cjfa-34397	294	9	r.c	r.c	PROPN
cjfa-34397	294	10	.	.	PROPN
cjfa-34397	294	11	(	(	PUNCT
cjfa-34397	294	12	1981	1981	NUM
cjfa-34397	294	13	)	)	PUNCT
cjfa-34397	294	14	.	.	PUNCT
cjfa-34397	295	1	on	on	ADP
cjfa-34397	295	2	market	market	NOUN
cjfa-34397	295	3	timing	timing	NOUN
cjfa-34397	295	4	and	and	CCONJ
cjfa-34397	295	5	investment	investment	NOUN
cjfa-34397	295	6	performance	performance	NOUN
cjfa-34397	295	7	.	.	PUNCT
cjfa-34397	296	1	ii	ii	X
cjfa-34397	296	2	.	.	PUNCT
cjfa-34397	297	1	statistical	statistical	ADJ
cjfa-34397	297	2	procedures	procedure	NOUN
cjfa-34397	297	3	for	for	ADP
cjfa-34397	297	4	evaluating	evaluate	VERB
cjfa-34397	297	5	forecasting	forecasting	NOUN
cjfa-34397	297	6	skills	skill	NOUN
cjfa-34397	297	7	.	.	PUNCT
cjfa-34397	298	1	the	the	DET
cjfa-34397	298	2	journal	journal	NOUN
cjfa-34397	298	3	of	of	ADP
cjfa-34397	298	4	business	business	NOUN
cjfa-34397	298	5	,	,	PUNCT
cjfa-34397	298	6	54(4	54(4	NUM
cjfa-34397	298	7	)	)	PUNCT
cjfa-34397	298	8	,	,	PUNCT
cjfa-34397	298	9	513	513	NUM
cjfa-34397	298	10	-	-	SYM
cjfa-34397	298	11	533	533	NUM
cjfa-34397	298	12	.	.	PUNCT
cjfa-34397	298	13	http://dx.doi.org/10.1086/296144	http://dx.doi.org/10.1086/296144	PROPN
cjfa-34397	298	14	.	.	PUNCT
cjfa-34397	299	1	ippolito	ippolito	PROPN
cjfa-34397	299	2	,	,	PUNCT
cjfa-34397	299	3	r.a	r.a	PROPN
cjfa-34397	299	4	.	.	PROPN
cjfa-34397	299	5	(	(	PUNCT
cjfa-34397	299	6	1986	1986	NUM
cjfa-34397	299	7	)	)	PUNCT
cjfa-34397	299	8	.	.	PUNCT
cjfa-34397	300	1	efficiency	efficiency	NOUN
cjfa-34397	300	2	with	with	ADP
cjfa-34397	300	3	costly	costly	ADJ
cjfa-34397	300	4	information	information	NOUN
cjfa-34397	300	5	:	:	PUNCT
cjfa-34397	300	6	a	a	DET
cjfa-34397	300	7	study	study	NOUN
cjfa-34397	300	8	of	of	ADP
cjfa-34397	300	9	mutual	mutual	ADJ
cjfa-34397	300	10	fund	fund	NOUN
cjfa-34397	300	11	performance	performance	NOUN
cjfa-34397	300	12	,	,	PUNCT
cjfa-34397	300	13	1965	1965	NUM
cjfa-34397	300	14	-	-	SYM
cjfa-34397	300	15	1984	1984	NUM
cjfa-34397	300	16	.	.	PUNCT
cjfa-34397	301	1	the	the	DET
cjfa-34397	301	2	quarterly	quarterly	ADJ
cjfa-34397	301	3	journal	journal	NOUN
cjfa-34397	301	4	of	of	ADP
cjfa-34397	301	5	economics	economic	NOUN
cjfa-34397	301	6	,	,	PUNCT
cjfa-34397	301	7	104(1	104(1	NUM
cjfa-34397	301	8	)	)	PUNCT
cjfa-34397	301	9	,	,	PUNCT
cjfa-34397	301	10	1	1	NUM
cjfa-34397	301	11	-	-	SYM
cjfa-34397	301	12	23	23	NUM
cjfa-34397	301	13	.	.	PUNCT
cjfa-34397	302	1	http://dx.doi	http://dx.doi	NOUN
cjfa-34397	302	2	.	.	PUNCT
cjfa-34397	303	1	org/10.1108	org/10.1108	NOUN
cjfa-34397	303	2	/	/	SYM
cjfa-34397	303	3	ilds.2002.12230dab.004	ilds.2002.12230dab.004	NOUN
cjfa-34397	303	4	.	.	PUNCT
cjfa-34397	304	1	market	market	NOUN
cjfa-34397	304	2	timing	timing	NOUN
cjfa-34397	304	3	abilities	ability	NOUN
cjfa-34397	304	4	of	of	ADP
cjfa-34397	304	5	large	large	ADJ
cjfa-34397	304	6	-	-	PUNCT
cjfa-34397	304	7	cap	cap	NOUN
cjfa-34397	304	8	equity	equity	NOUN
cjfa-34397	304	9	mutual	mutual	ADJ
cjfa-34397	304	10	fund	fund	NOUN
cjfa-34397	304	11	managers	manager	NOUN
cjfa-34397	304	12	…	…	PUNCT
cjfa-34397	304	13	99	99	NUM
cjfa-34397	304	14	jagannathan	jagannathan	NOUN
cjfa-34397	304	15	,	,	PUNCT
cjfa-34397	304	16	r.	r.	PROPN
cjfa-34397	304	17	,	,	PUNCT
cjfa-34397	304	18	&	&	CCONJ
cjfa-34397	304	19	korajczyk	korajczyk	PROPN
cjfa-34397	304	20	,	,	PUNCT
cjfa-34397	304	21	r.a	r.a	PROPN
cjfa-34397	304	22	.	.	PROPN
cjfa-34397	304	23	(	(	PUNCT
cjfa-34397	304	24	1986	1986	NUM
cjfa-34397	304	25	)	)	PUNCT
cjfa-34397	304	26	.	.	PUNCT
cjfa-34397	305	1	assessing	assess	VERB
cjfa-34397	305	2	the	the	DET
cjfa-34397	305	3	market	market	NOUN
cjfa-34397	305	4	timing	timing	NOUN
cjfa-34397	305	5	performance	performance	NOUN
cjfa-34397	305	6	of	of	ADP
cjfa-34397	305	7	managed	manage	VERB
cjfa-34397	305	8	portfolios	portfolio	NOUN
cjfa-34397	305	9	.	.	PUNCT
cjfa-34397	306	1	the	the	DET
cjfa-34397	306	2	journal	journal	NOUN
cjfa-34397	306	3	of	of	ADP
cjfa-34397	306	4	business	business	NOUN
cjfa-34397	306	5	,	,	PUNCT
cjfa-34397	306	6	59(2	59(2	NUM
cjfa-34397	306	7	)	)	PUNCT
cjfa-34397	306	8	,	,	PUNCT
cjfa-34397	306	9	217	217	NUM
cjfa-34397	306	10	-	-	SYM
cjfa-34397	306	11	235	235	NUM
cjfa-34397	306	12	.	.	PUNCT
cjfa-34397	306	13	http://dx.doi	http://dx.doi	NOUN
cjfa-34397	306	14	.	.	PUNCT
cjfa-34397	307	1	org/10.1086/296326	org/10.1086/296326	PROPN
cjfa-34397	307	2	.	.	PUNCT
cjfa-34397	308	1	jensen	jensen	PROPN
cjfa-34397	308	2	,	,	PUNCT
cjfa-34397	308	3	m.c	m.c	PROPN
cjfa-34397	308	4	.	.	PROPN
cjfa-34397	308	5	(	(	PUNCT
cjfa-34397	308	6	1968	1968	NUM
cjfa-34397	308	7	)	)	PUNCT
cjfa-34397	308	8	.	.	PUNCT
cjfa-34397	309	1	the	the	DET
cjfa-34397	309	2	performance	performance	NOUN
cjfa-34397	309	3	of	of	ADP
cjfa-34397	309	4	mutual	mutual	ADJ
cjfa-34397	309	5	funds	fund	NOUN
cjfa-34397	309	6	in	in	ADP
cjfa-34397	309	7	the	the	DET
cjfa-34397	309	8	period	period	NOUN
cjfa-34397	309	9	1945	1945	NUM
cjfa-34397	309	10	-	-	SYM
cjfa-34397	309	11	1964	1964	NUM
cjfa-34397	309	12	.	.	PUNCT
cjfa-34397	310	1	the	the	DET
cjfa-34397	310	2	journal	journal	PROPN
cjfa-34397	310	3	of	of	ADP
cjfa-34397	310	4	finance	finance	NOUN
cjfa-34397	310	5	,	,	PUNCT
cjfa-34397	310	6	23(2	23(2	NUM
cjfa-34397	310	7	)	)	PUNCT
cjfa-34397	310	8	,	,	PUNCT
cjfa-34397	310	9	389	389	NUM
cjfa-34397	310	10	-	-	SYM
cjfa-34397	310	11	416	416	NUM
cjfa-34397	310	12	.	.	PUNCT
cjfa-34397	310	13	http://dx.doi.org/10.1111/j.1540-6261.1968	http://dx.doi.org/10.1111/j.1540-6261.1968	X
cjfa-34397	310	14	.	.	PUNCT
cjfa-34397	311	1	tb00815.x	tb00815.x	NOUN
cjfa-34397	311	2	.	.	PUNCT
cjfa-34397	312	1	jiang	jiang	PROPN
cjfa-34397	312	2	,	,	PUNCT
cjfa-34397	312	3	w.	w.	PROPN
cjfa-34397	312	4	(	(	PUNCT
cjfa-34397	312	5	2003	2003	NUM
cjfa-34397	312	6	)	)	PUNCT
cjfa-34397	312	7	.	.	PUNCT
cjfa-34397	313	1	a	a	DET
cjfa-34397	313	2	nonparametric	nonparametric	NOUN
cjfa-34397	313	3	test	test	NOUN
cjfa-34397	313	4	of	of	ADP
cjfa-34397	313	5	market	market	NOUN
cjfa-34397	313	6	timing	timing	NOUN
cjfa-34397	313	7	.	.	PUNCT
cjfa-34397	314	1	journal	journal	NOUN
cjfa-34397	314	2	of	of	ADP
cjfa-34397	314	3	empirical	empirical	ADJ
cjfa-34397	314	4	finance	finance	NOUN
cjfa-34397	314	5	,	,	PUNCT
cjfa-34397	314	6	10(4	10(4	NUM
cjfa-34397	314	7	)	)	PUNCT
cjfa-34397	314	8	,	,	PUNCT
cjfa-34397	314	9	399	399	NUM
cjfa-34397	314	10	-	-	SYM
cjfa-34397	314	11	425	425	NUM
cjfa-34397	314	12	.	.	PUNCT
cjfa-34397	315	1	http://dx.doi.org/10.1016/s0927-5398(02)00065-8	http://dx.doi.org/10.1016/s0927-5398(02)00065-8	PROPN
cjfa-34397	315	2	.	.	PUNCT
cjfa-34397	316	1	kon	kon	PROPN
cjfa-34397	316	2	,	,	PUNCT
cjfa-34397	316	3	s.j	s.j	PROPN
cjfa-34397	316	4	.	.	PROPN
cjfa-34397	316	5	,	,	PUNCT
cjfa-34397	316	6	&	&	CCONJ
cjfa-34397	316	7	jen	jen	PROPN
cjfa-34397	316	8	,	,	PUNCT
cjfa-34397	316	9	f.c	f.c	PROPN
cjfa-34397	316	10	.	.	PROPN
cjfa-34397	316	11	(	(	PUNCT
cjfa-34397	316	12	1979	1979	NUM
cjfa-34397	316	13	)	)	PUNCT
cjfa-34397	316	14	.	.	PUNCT
cjfa-34397	317	1	the	the	DET
cjfa-34397	317	2	investment	investment	NOUN
cjfa-34397	317	3	performance	performance	NOUN
cjfa-34397	317	4	of	of	ADP
cjfa-34397	317	5	mutual	mutual	ADJ
cjfa-34397	317	6	funds	fund	NOUN
cjfa-34397	317	7	:	:	PUNCT
cjfa-34397	317	8	an	an	DET
cjfa-34397	317	9	empirical	empirical	ADJ
cjfa-34397	317	10	investigation	investigation	NOUN
cjfa-34397	317	11	of	of	ADP
cjfa-34397	317	12	timing	timing	NOUN
cjfa-34397	317	13	,	,	PUNCT
cjfa-34397	317	14	selectivity	selectivity	NOUN
cjfa-34397	317	15	,	,	PUNCT
cjfa-34397	317	16	and	and	CCONJ
cjfa-34397	317	17	market	market	NOUN
cjfa-34397	317	18	efficiency	efficiency	NOUN
cjfa-34397	317	19	.	.	PUNCT
cjfa-34397	318	1	the	the	DET
cjfa-34397	318	2	journal	journal	NOUN
cjfa-34397	318	3	of	of	ADP
cjfa-34397	318	4	business	business	NOUN
cjfa-34397	318	5	,	,	PUNCT
cjfa-34397	318	6	52(2	52(2	NUM
cjfa-34397	318	7	)	)	PUNCT
cjfa-34397	318	8	,	,	PUNCT
cjfa-34397	318	9	263	263	NUM
cjfa-34397	318	10	-	-	SYM
cjfa-34397	318	11	289	289	NUM
cjfa-34397	318	12	.	.	PUNCT
cjfa-34397	319	1	lee	lee	PROPN
cjfa-34397	319	2	,	,	PUNCT
cjfa-34397	319	3	c.-f	c.-f	NOUN
cjfa-34397	319	4	.	.	PUNCT
cjfa-34397	319	5	,	,	PUNCT
cjfa-34397	319	6	&	&	CCONJ
cjfa-34397	319	7	rahman	rahman	PROPN
cjfa-34397	319	8	,	,	PUNCT
cjfa-34397	319	9	s.	s.	PROPN
cjfa-34397	319	10	(	(	PUNCT
cjfa-34397	319	11	1990	1990	NUM
cjfa-34397	319	12	)	)	PUNCT
cjfa-34397	319	13	.	.	PUNCT
cjfa-34397	320	1	market	market	NOUN
cjfa-34397	320	2	timing	timing	NOUN
cjfa-34397	320	3	,	,	PUNCT
cjfa-34397	320	4	selectivity	selectivity	NOUN
cjfa-34397	320	5	,	,	PUNCT
cjfa-34397	320	6	and	and	CCONJ
cjfa-34397	320	7	mutual	mutual	ADJ
cjfa-34397	320	8	fund	fund	NOUN
cjfa-34397	320	9	performance	performance	NOUN
cjfa-34397	320	10	:	:	PUNCT
cjfa-34397	320	11	an	an	DET
cjfa-34397	320	12	empirical	empirical	ADJ
cjfa-34397	320	13	investigation	investigation	NOUN
cjfa-34397	320	14	.	.	PUNCT
cjfa-34397	321	1	the	the	DET
cjfa-34397	321	2	journal	journal	NOUN
cjfa-34397	321	3	of	of	ADP
cjfa-34397	321	4	business	business	NOUN
cjfa-34397	321	5	,	,	PUNCT
cjfa-34397	321	6	63(2	63(2	NUM
cjfa-34397	321	7	)	)	PUNCT
cjfa-34397	321	8	,	,	PUNCT
cjfa-34397	321	9	261	261	NUM
cjfa-34397	321	10	-	-	SYM
cjfa-34397	321	11	278	278	NUM
cjfa-34397	321	12	.	.	PUNCT
cjfa-34397	322	1	http://	http://	PROPN
cjfa-34397	322	2	dx.doi.org/10.1086/296505	dx.doi.org/10.1086/296505	NOUN
cjfa-34397	322	3	.	.	PUNCT
cjfa-34397	323	1	mohanti	mohanti	PROPN
cjfa-34397	323	2	,	,	PUNCT
cjfa-34397	323	3	d.	d.	PROPN
cjfa-34397	323	4	,	,	PUNCT
cjfa-34397	323	5	&	&	CCONJ
cjfa-34397	323	6	priyan	priyan	PROPN
cjfa-34397	323	7	,	,	PUNCT
cjfa-34397	323	8	p.k	p.k	PROPN
cjfa-34397	323	9	.	.	PROPN
cjfa-34397	323	10	(	(	PUNCT
cjfa-34397	323	11	2018	2018	NUM
cjfa-34397	323	12	)	)	PUNCT
cjfa-34397	323	13	.	.	PUNCT
cjfa-34397	324	1	style	style	NOUN
cjfa-34397	324	2	-	-	PUNCT
cjfa-34397	324	3	exposure	exposure	NOUN
cjfa-34397	324	4	analysis	analysis	NOUN
cjfa-34397	324	5	of	of	ADP
cjfa-34397	324	6	large	large	ADJ
cjfa-34397	324	7	-	-	PUNCT
cjfa-34397	324	8	cap	cap	NOUN
cjfa-34397	324	9	equity	equity	NOUN
cjfa-34397	324	10	mutual	mutual	ADJ
cjfa-34397	324	11	funds	fund	NOUN
cjfa-34397	324	12	in	in	ADP
cjfa-34397	324	13	india	india	PROPN
cjfa-34397	324	14	.	.	PUNCT
cjfa-34397	325	1	iimb	iimb	PROPN
cjfa-34397	325	2	management	management	PROPN
cjfa-34397	325	3	review	review	PROPN
cjfa-34397	325	4	,	,	PUNCT
cjfa-34397	325	5	30	30	NUM
cjfa-34397	325	6	,	,	PUNCT
cjfa-34397	325	7	219	219	NUM
cjfa-34397	325	8	-	-	SYM
cjfa-34397	325	9	228	228	NUM
cjfa-34397	325	10	.	.	PUNCT
cjfa-34397	326	1	http://dx.doi.org/10.1016/j	http://dx.doi.org/10.1016/j	PROPN
cjfa-34397	326	2	.	.	PUNCT
cjfa-34397	326	3	iimb.2018.01.010	iimb.2018.01.010	PROPN
cjfa-34397	326	4	.	.	PUNCT
cjfa-34397	327	1	pesaran	pesaran	PROPN
cjfa-34397	327	2	,	,	PUNCT
cjfa-34397	327	3	m.h	m.h	PROPN
cjfa-34397	327	4	.	.	PROPN
cjfa-34397	327	5	,	,	PUNCT
cjfa-34397	327	6	&	&	CCONJ
cjfa-34397	327	7	timmermann	timmermann	PROPN
cjfa-34397	327	8	,	,	PUNCT
cjfa-34397	327	9	a.	a.	NOUN
cjfa-34397	327	10	(	(	PUNCT
cjfa-34397	327	11	1995	1995	NUM
cjfa-34397	327	12	)	)	PUNCT
cjfa-34397	327	13	.	.	PUNCT
cjfa-34397	328	1	predictability	predictability	NOUN
cjfa-34397	328	2	of	of	ADP
cjfa-34397	328	3	stock	stock	NOUN
cjfa-34397	328	4	returns	return	NOUN
cjfa-34397	328	5	:	:	PUNCT
cjfa-34397	328	6	robustness	robustness	NOUN
cjfa-34397	328	7	and	and	CCONJ
cjfa-34397	328	8	economic	economic	ADJ
cjfa-34397	328	9	significance	significance	NOUN
cjfa-34397	328	10	.	.	PUNCT
cjfa-34397	329	1	journal	journal	NOUN
cjfa-34397	329	2	of	of	ADP
cjfa-34397	329	3	finance	finance	NOUN
cjfa-34397	329	4	,	,	PUNCT
cjfa-34397	329	5	50(4	50(4	NUM
cjfa-34397	329	6	)	)	PUNCT
cjfa-34397	329	7	,	,	PUNCT
cjfa-34397	329	8	1201	1201	NUM
cjfa-34397	329	9	-	-	SYM
cjfa-34397	329	10	1228	1228	NUM
cjfa-34397	329	11	.	.	PUNCT
cjfa-34397	330	1	http://dx.doi	http://dx.doi	NOUN
cjfa-34397	330	2	.	.	PUNCT
cjfa-34397	331	1	org/10.2307/2329349	org/10.2307/2329349	PROPN
cjfa-34397	331	2	.	.	PUNCT
cjfa-34397	332	1	sehgal	sehgal	PROPN
cjfa-34397	332	2	,	,	PUNCT
cjfa-34397	332	3	s.	s.	PROPN
cjfa-34397	332	4	,	,	PUNCT
cjfa-34397	332	5	&	&	CCONJ
cjfa-34397	332	6	babbar	babbar	PROPN
cjfa-34397	332	7	,	,	PUNCT
cjfa-34397	332	8	s.	s.	PROPN
cjfa-34397	332	9	(	(	PUNCT
cjfa-34397	332	10	2017	2017	NUM
cjfa-34397	332	11	)	)	PUNCT
cjfa-34397	332	12	.	.	PUNCT
cjfa-34397	333	1	evaluating	evaluate	VERB
cjfa-34397	333	2	alternative	alternative	ADJ
cjfa-34397	333	3	performance	performance	NOUN
cjfa-34397	333	4	benchmarks	benchmark	NOUN
cjfa-34397	333	5	for	for	ADP
cjfa-34397	333	6	indian	indian	ADJ
cjfa-34397	333	7	mutual	mutual	ADJ
cjfa-34397	333	8	fund	fund	NOUN
cjfa-34397	333	9	industry	industry	NOUN
cjfa-34397	333	10	.	.	PUNCT
cjfa-34397	334	1	journal	journal	PROPN
cjfa-34397	334	2	of	of	ADP
cjfa-34397	334	3	advances	advance	NOUN
cjfa-34397	334	4	in	in	ADP
cjfa-34397	334	5	management	management	NOUN
cjfa-34397	334	6	research	research	NOUN
cjfa-34397	334	7	,	,	PUNCT
cjfa-34397	334	8	14(2	14(2	NUM
cjfa-34397	334	9	)	)	PUNCT
cjfa-34397	334	10	,	,	PUNCT
cjfa-34397	334	11	222250	222250	NUM
cjfa-34397	334	12	.	.	PUNCT
cjfa-34397	335	1	http://dx.doi.org/10.1108/jamr-04-2016-0028	http://dx.doi.org/10.1108/jamr-04-2016-0028	PROPN
cjfa-34397	335	2	.	.	PUNCT
cjfa-34397	336	1	sehgal	sehgal	PROPN
cjfa-34397	336	2	,	,	PUNCT
cjfa-34397	336	3	s.	s.	PROPN
cjfa-34397	336	4	,	,	PUNCT
cjfa-34397	336	5	&	&	CCONJ
cjfa-34397	336	6	jhanwar	jhanwar	PROPN
cjfa-34397	336	7	,	,	PUNCT
cjfa-34397	336	8	m.	m.	NOUN
cjfa-34397	336	9	(	(	PUNCT
cjfa-34397	336	10	2008	2008	NUM
cjfa-34397	336	11	)	)	PUNCT
cjfa-34397	336	12	.	.	PUNCT
cjfa-34397	337	1	on	on	ADP
cjfa-34397	337	2	stock	stock	NOUN
cjfa-34397	337	3	selection	selection	NOUN
cjfa-34397	337	4	skills	skill	NOUN
cjfa-34397	337	5	and	and	CCONJ
cjfa-34397	337	6	market	market	NOUN
cjfa-34397	337	7	timing	timing	NOUN
cjfa-34397	337	8	abilities	ability	NOUN
cjfa-34397	337	9	of	of	ADP
cjfa-34397	337	10	mutual	mutual	ADJ
cjfa-34397	337	11	fund	fund	NOUN
cjfa-34397	337	12	managers	manager	NOUN
cjfa-34397	337	13	in	in	ADP
cjfa-34397	337	14	india	india	PROPN
cjfa-34397	337	15	.	.	PUNCT
cjfa-34397	338	1	international	international	ADJ
cjfa-34397	338	2	research	research	PROPN
cjfa-34397	338	3	journal	journal	NOUN
cjfa-34397	338	4	of	of	ADP
cjfa-34397	338	5	finance	finance	NOUN
cjfa-34397	338	6	and	and	CCONJ
cjfa-34397	338	7	economics	economic	NOUN
cjfa-34397	338	8	,	,	PUNCT
cjfa-34397	338	9	15(15	15(15	NUM
cjfa-34397	338	10	)	)	PUNCT
cjfa-34397	338	11	,	,	PUNCT
cjfa-34397	338	12	307	307	NUM
cjfa-34397	338	13	-	-	SYM
cjfa-34397	338	14	317	317	NUM
cjfa-34397	338	15	.	.	PUNCT
cjfa-34397	339	1	sharpe	sharpe	PROPN
cjfa-34397	339	2	,	,	PUNCT
cjfa-34397	339	3	w.f	w.f	PROPN
cjfa-34397	339	4	.	.	PROPN
cjfa-34397	339	5	(	(	PUNCT
cjfa-34397	339	6	1966	1966	NUM
cjfa-34397	339	7	)	)	PUNCT
cjfa-34397	339	8	.	.	PUNCT
cjfa-34397	340	1	mutual	mutual	ADJ
cjfa-34397	340	2	fund	fund	NOUN
cjfa-34397	340	3	performance	performance	NOUN
cjfa-34397	340	4	.	.	PUNCT
cjfa-34397	341	1	the	the	DET
cjfa-34397	341	2	journal	journal	NOUN
cjfa-34397	341	3	of	of	ADP
cjfa-34397	341	4	business	business	NOUN
cjfa-34397	341	5	,	,	PUNCT
cjfa-34397	341	6	39(1	39(1	NUM
cjfa-34397	341	7	)	)	PUNCT
cjfa-34397	341	8	,	,	PUNCT
cjfa-34397	341	9	119	119	NUM
cjfa-34397	341	10	-	-	SYM
cjfa-34397	341	11	138	138	NUM
cjfa-34397	341	12	.	.	PUNCT
cjfa-34397	341	13	http://dx.doi.org/10.1086/294846	http://dx.doi.org/10.1086/294846	NOUN
cjfa-34397	341	14	.	.	PUNCT
cjfa-34397	342	1	treynor	treynor	PROPN
cjfa-34397	342	2	,	,	PUNCT
cjfa-34397	342	3	j.l	j.l	PROPN
cjfa-34397	342	4	.	.	PROPN
cjfa-34397	342	5	(	(	PUNCT
cjfa-34397	342	6	1965	1965	NUM
cjfa-34397	342	7	)	)	PUNCT
cjfa-34397	342	8	.	.	PUNCT
cjfa-34397	343	1	how	how	SCONJ
cjfa-34397	343	2	to	to	PART
cjfa-34397	343	3	rate	rate	VERB
cjfa-34397	343	4	management	management	NOUN
cjfa-34397	343	5	of	of	ADP
cjfa-34397	343	6	investment	investment	NOUN
cjfa-34397	343	7	funds	fund	NOUN
cjfa-34397	343	8	.	.	PUNCT
cjfa-34397	344	1	harvard	harvard	PROPN
cjfa-34397	344	2	business	business	PROPN
cjfa-34397	344	3	review	review	PROPN
cjfa-34397	344	4	,	,	PUNCT
cjfa-34397	344	5	43	43	NUM
cjfa-34397	344	6	,	,	PUNCT
cjfa-34397	344	7	63	63	NUM
cjfa-34397	344	8	-	-	SYM
cjfa-34397	344	9	75	75	NUM
cjfa-34397	344	10	.	.	PUNCT
cjfa-34397	345	1	http://dx.doi.org/10.1002/9781119196679.ch10	http://dx.doi.org/10.1002/9781119196679.ch10	PROPN
cjfa-34397	345	2	.	.	PROPN
cjfa-34397	345	3	treynor	treynor	PROPN
cjfa-34397	345	4	,	,	PUNCT
cjfa-34397	345	5	j.	j.	PROPN
cjfa-34397	345	6	l.	l.	PROPN
cjfa-34397	345	7	,	,	PUNCT
cjfa-34397	345	8	&	&	CCONJ
cjfa-34397	345	9	mazuy	mazuy	PROPN
cjfa-34397	345	10	,	,	PUNCT
cjfa-34397	345	11	k.	k.	PROPN
cjfa-34397	345	12	(	(	PUNCT
cjfa-34397	345	13	1966	1966	NUM
cjfa-34397	345	14	)	)	PUNCT
cjfa-34397	345	15	.	.	PUNCT
cjfa-34397	346	1	can	can	AUX
cjfa-34397	346	2	mutual	mutual	ADJ
cjfa-34397	346	3	funds	fund	NOUN
cjfa-34397	346	4	outguess	outguess	VERB
cjfa-34397	346	5	the	the	DET
cjfa-34397	346	6	market	market	NOUN
cjfa-34397	346	7	?	?	PUNCT
cjfa-34397	347	1	harvard	harvard	PROPN
cjfa-34397	347	2	business	business	PROPN
cjfa-34397	347	3	review	review	PROPN
cjfa-34397	347	4	,	,	PUNCT
cjfa-34397	347	5	4	4	NUM
cjfa-34397	347	6	,	,	PUNCT
cjfa-34397	347	7	131	131	NUM
cjfa-34397	347	8	-	-	SYM
cjfa-34397	347	9	136	136	NUM
cjfa-34397	347	10	.	.	PUNCT
cjfa-34397	348	1	tripathy	tripathy	ADJ
cjfa-34397	348	2	,	,	PUNCT
cjfa-34397	348	3	n.p	n.p	PROPN
cjfa-34397	348	4	.	.	PROPN
cjfa-34397	348	5	(	(	PUNCT
cjfa-34397	348	6	2005	2005	NUM
cjfa-34397	348	7	)	)	PUNCT
cjfa-34397	348	8	.	.	PUNCT
cjfa-34397	349	1	an	an	DET
cjfa-34397	349	2	empirical	empirical	ADJ
cjfa-34397	349	3	evaluation	evaluation	NOUN
cjfa-34397	349	4	of	of	ADP
cjfa-34397	349	5	market	market	NOUN
cjfa-34397	349	6	timing	timing	NOUN
cjfa-34397	349	7	abilities	ability	NOUN
cjfa-34397	349	8	of	of	ADP
cjfa-34397	349	9	indian	indian	ADJ
cjfa-34397	349	10	fund	fund	NOUN
cjfa-34397	349	11	managers	manager	NOUN
cjfa-34397	349	12	on	on	ADP
cjfa-34397	349	13	equity	equity	NOUN
cjfa-34397	349	14	linked	link	VERB
cjfa-34397	349	15	savings	saving	NOUN
cjfa-34397	349	16	scheme	scheme	NOUN
cjfa-34397	349	17	.	.	PUNCT
cjfa-34397	350	1	delhi	delhi	PROPN
cjfa-34397	350	2	business	business	PROPN
cjfa-34397	350	3	review	review	PROPN
cjfa-34397	350	4	,	,	PUNCT
cjfa-34397	350	5	6(2	6(2	NUM
cjfa-34397	350	6	)	)	PUNCT
cjfa-34397	350	7	,	,	PUNCT
cjfa-34397	350	8	19	19	NUM
cjfa-34397	350	9	-	-	SYM
cjfa-34397	350	10	27	27	NUM
cjfa-34397	350	11	.	.	PUNCT
cjfa-34397	351	1	tripathy	tripathy	ADJ
cjfa-34397	351	2	,	,	PUNCT
cjfa-34397	351	3	n.p	n.p	PROPN
cjfa-34397	351	4	.	.	PROPN
cjfa-34397	351	5	(	(	PUNCT
cjfa-34397	351	6	2006	2006	NUM
cjfa-34397	351	7	)	)	PUNCT
cjfa-34397	351	8	.	.	PUNCT
cjfa-34397	352	1	market	market	NOUN
cjfa-34397	352	2	timing	timing	NOUN
cjfa-34397	352	3	abilities	ability	NOUN
cjfa-34397	352	4	and	and	CCONJ
cjfa-34397	352	5	mutual	mutual	ADJ
cjfa-34397	352	6	fund	fund	NOUN
cjfa-34397	352	7	performance	performance	NOUN
cjfa-34397	352	8	-	-	PUNCT
cjfa-34397	352	9	an	an	DET
cjfa-34397	352	10	empirical	empirical	ADJ
cjfa-34397	352	11	investigation	investigation	NOUN
cjfa-34397	352	12	into	into	ADP
cjfa-34397	352	13	equity	equity	NOUN
cjfa-34397	352	14	linked	link	VERB
cjfa-34397	352	15	saving	save	VERB
cjfa-34397	352	16	schemes	scheme	NOUN
cjfa-34397	352	17	.	.	PUNCT
cjfa-34397	353	1	vilakshan	vilakshan	PROPN
cjfa-34397	353	2	,	,	PUNCT
cjfa-34397	353	3	ximb	ximb	PROPN
cjfa-34397	353	4	journal	journal	PROPN
cjfa-34397	353	5	of	of	ADP
cjfa-34397	353	6	management	management	NOUN
cjfa-34397	353	7	,	,	PUNCT
cjfa-34397	353	8	127	127	NUM
cjfa-34397	353	9	-	-	SYM
cjfa-34397	353	10	138	138	NUM
cjfa-34397	353	11	.	.	PUNCT