id	sid	tid	token	lemma	pos
dem-1080	1	1	microsoft	microsoft	PROPN
dem-1080	1	2	word	word	NOUN
dem-1080	1	3	13_olbryś_j.docx	13_olbryś_j.docx	NUM
dem-1080	1	4	dynamic	dynamic	ADJ
dem-1080	1	5	econometric	econometric	ADJ
dem-1080	1	6	models	model	NOUN
dem-1080	1	7	vol	vol	NOUN
dem-1080	1	8	.	.	PROPN
dem-1080	1	9	11	11	NUM
dem-1080	1	10	–	–	PUNCT
dem-1080	1	11	nicolaus	nicolaus	PROPN
dem-1080	1	12	copernicus	copernicus	PROPN
dem-1080	1	13	university	university	PROPN
dem-1080	1	14	–	–	PUNCT
dem-1080	1	15	toruń	toruń	NOUN
dem-1080	1	16	–	–	PUNCT
dem-1080	1	17	2011	2011	NUM
dem-1080	1	18	joanna	joanna	PROPN
dem-1080	1	19	olbryś	olbryś	PROPN
dem-1080	1	20	bialystok	bialystok	PROPN
dem-1080	1	21	university	university	PROPN
dem-1080	1	22	of	of	ADP
dem-1080	1	23	technology	technology	NOUN
dem-1080	1	24	arch	arch	ADJ
dem-1080	1	25	effect	effect	NOUN
dem-1080	1	26	in	in	ADP
dem-1080	1	27	classical	classical	ADJ
dem-1080	1	28	market	market	NOUN
dem-1080	1	29	-	-	PUNCT
dem-1080	1	30	timing	timing	NOUN
dem-1080	1	31	models	model	NOUN
dem-1080	1	32	with	with	ADP
dem-1080	1	33	lagged	lag	VERB
dem-1080	1	34	market	market	NOUN
dem-1080	1	35	variable	variable	NOUN
dem-1080	1	36	:	:	PUNCT
dem-1080	1	37	the	the	DET
dem-1080	1	38	case	case	NOUN
dem-1080	1	39	of	of	ADP
dem-1080	1	40	polish	polish	ADJ
dem-1080	1	41	market†	market†	NOUN
dem-1080	1	42	a	a	DET
dem-1080	1	43	b	b	PROPN
dem-1080	1	44	s	s	ADP
dem-1080	1	45	t	t	PROPN
dem-1080	1	46	r	r	NOUN
dem-1080	1	47	a	a	DET
dem-1080	1	48	c	c	NOUN
dem-1080	1	49	t.	t.	NOUN
dem-1080	1	50	the	the	DET
dem-1080	1	51	main	main	ADJ
dem-1080	1	52	goal	goal	NOUN
dem-1080	1	53	of	of	ADP
dem-1080	1	54	this	this	DET
dem-1080	1	55	study	study	NOUN
dem-1080	1	56	is	be	AUX
dem-1080	1	57	to	to	PART
dem-1080	1	58	present	present	VERB
dem-1080	1	59	the	the	DET
dem-1080	1	60	regressions	regression	NOUN
dem-1080	1	61	of	of	ADP
dem-1080	1	62	the	the	DET
dem-1080	1	63	garch	garch	NOUN
dem-1080	1	64	versions	version	NOUN
dem-1080	1	65	of	of	ADP
dem-1080	1	66	classical	classical	ADJ
dem-1080	1	67	market	market	NOUN
dem-1080	1	68	-	-	PUNCT
dem-1080	1	69	timing	timing	NOUN
dem-1080	1	70	models	model	NOUN
dem-1080	1	71	of	of	ADP
dem-1080	1	72	polish	polish	ADJ
dem-1080	1	73	equity	equity	NOUN
dem-1080	1	74	funds	fund	NOUN
dem-1080	1	75	.	.	PUNCT
dem-1080	2	1	we	we	PRON
dem-1080	2	2	examine	examine	VERB
dem-1080	2	3	the	the	DET
dem-1080	2	4	models	model	NOUN
dem-1080	2	5	with	with	ADP
dem-1080	2	6	lagged	lag	VERB
dem-1080	2	7	values	value	NOUN
dem-1080	2	8	of	of	ADP
dem-1080	2	9	the	the	DET
dem-1080	2	10	market	market	NOUN
dem-1080	2	11	factor	factor	NOUN
dem-1080	2	12	as	as	ADP
dem-1080	2	13	an	an	DET
dem-1080	2	14	additional	additional	ADJ
dem-1080	2	15	variable	variable	NOUN
dem-1080	2	16	because	because	SCONJ
dem-1080	2	17	of	of	ADP
dem-1080	2	18	the	the	DET
dem-1080	2	19	fisher	fisher	NOUN
dem-1080	2	20	’s	’s	PART
dem-1080	2	21	effect1	effect1	NOUN
dem-1080	2	22	in	in	ADP
dem-1080	2	23	the	the	DET
dem-1080	2	24	case	case	NOUN
dem-1080	2	25	of	of	ADP
dem-1080	2	26	the	the	DET
dem-1080	2	27	main	main	ADJ
dem-1080	2	28	warsaw	warsaw	PROPN
dem-1080	2	29	stock	stock	NOUN
dem-1080	2	30	exchange	exchange	NOUN
dem-1080	2	31	indexes	index	NOUN
dem-1080	2	32	.	.	PUNCT
dem-1080	3	1	the	the	DET
dem-1080	3	2	market	market	NOUN
dem-1080	3	3	-	-	PUNCT
dem-1080	3	4	timing	timing	NOUN
dem-1080	3	5	and	and	CCONJ
dem-1080	3	6	selectivity	selectivity	NOUN
dem-1080	3	7	abilities	ability	NOUN
dem-1080	3	8	of	of	ADP
dem-1080	3	9	fund	fund	NOUN
dem-1080	3	10	managers	manager	NOUN
dem-1080	3	11	are	be	AUX
dem-1080	3	12	evaluated	evaluate	VERB
dem-1080	3	13	for	for	ADP
dem-1080	3	14	the	the	DET
dem-1080	3	15	period	period	NOUN
dem-1080	3	16	jan	jan	PROPN
dem-1080	3	17	2003	2003	NUM
dem-1080	3	18	–	–	PUNCT
dem-1080	3	19	june	june	PROPN
dem-1080	3	20	2011	2011	NUM
dem-1080	3	21	.	.	PUNCT
dem-1080	4	1	results	result	NOUN
dem-1080	4	2	on	on	ADP
dem-1080	4	3	both	both	CCONJ
dem-1080	4	4	the	the	DET
dem-1080	4	5	hac	hac	NOUN
dem-1080	4	6	and	and	CCONJ
dem-1080	4	7	the	the	DET
dem-1080	4	8	garch	garch	NOUN
dem-1080	4	9	estimates	estimate	NOUN
dem-1080	4	10	are	be	AUX
dem-1080	4	11	qualitatively	qualitatively	ADV
dem-1080	4	12	similar	similar	ADJ
dem-1080	4	13	,	,	PUNCT
dem-1080	4	14	and	and	CCONJ
dem-1080	4	15	even	even	ADV
dem-1080	4	16	better	well	ADV
dem-1080	4	17	in	in	ADP
dem-1080	4	18	the	the	DET
dem-1080	4	19	case	case	NOUN
dem-1080	4	20	of	of	ADP
dem-1080	4	21	the	the	DET
dem-1080	4	22	simpler	simple	ADJ
dem-1080	4	23	hac	hac	NOUN
dem-1080	4	24	method	method	NOUN
dem-1080	4	25	.	.	PUNCT
dem-1080	5	1	for	for	ADP
dem-1080	5	2	this	this	DET
dem-1080	5	3	reason	reason	NOUN
dem-1080	5	4	,	,	PUNCT
dem-1080	5	5	it	it	PRON
dem-1080	5	6	is	be	AUX
dem-1080	5	7	not	not	PART
dem-1080	5	8	necessary	necessary	ADJ
dem-1080	5	9	to	to	PART
dem-1080	5	10	estimate	estimate	VERB
dem-1080	5	11	the	the	DET
dem-1080	5	12	garch	garch	NOUN
dem-1080	5	13	versions	version	NOUN
dem-1080	5	14	of	of	ADP
dem-1080	5	15	market	market	NOUN
dem-1080	5	16	-	-	PUNCT
dem-1080	5	17	timing	timing	NOUN
dem-1080	5	18	models	model	NOUN
dem-1080	5	19	in	in	ADP
dem-1080	5	20	the	the	DET
dem-1080	5	21	case	case	NOUN
dem-1080	5	22	of	of	ADP
dem-1080	5	23	polish	polish	ADJ
dem-1080	5	24	mutual	mutual	ADJ
dem-1080	5	25	funds	fund	NOUN
dem-1080	5	26	,	,	PUNCT
dem-1080	5	27	even	even	ADV
dem-1080	5	28	despite	despite	SCONJ
dem-1080	5	29	the	the	DET
dem-1080	5	30	strong	strong	ADJ
dem-1080	5	31	arch	arch	ADJ
dem-1080	5	32	effects	effect	NOUN
dem-1080	5	33	that	that	PRON
dem-1080	5	34	exist	exist	VERB
dem-1080	5	35	in	in	ADP
dem-1080	5	36	these	these	DET
dem-1080	5	37	models	model	NOUN
dem-1080	5	38	.	.	PUNCT
dem-1080	6	1	k	k	PROPN
dem-1080	6	2	e	e	PROPN
dem-1080	6	3	y	y	PROPN
dem-1080	6	4	w	w	NOUN
dem-1080	6	5	o	o	NOUN
dem-1080	6	6	r	r	NOUN
dem-1080	6	7	d	d	X
dem-1080	6	8	s	s	NOUN
dem-1080	6	9	:	:	PUNCT
dem-1080	6	10	market	market	NOUN
dem-1080	6	11	-	-	PUNCT
dem-1080	6	12	timing	timing	NOUN
dem-1080	6	13	,	,	PUNCT
dem-1080	6	14	non	non	ADJ
dem-1080	6	15	-	-	ADJ
dem-1080	6	16	trading	trading	ADJ
dem-1080	6	17	,	,	PUNCT
dem-1080	6	18	arch	arch	ADJ
dem-1080	6	19	effect	effect	NOUN
dem-1080	6	20	,	,	PUNCT
dem-1080	6	21	garch	garch	NOUN
dem-1080	6	22	model	model	NOUN
dem-1080	6	23	.	.	PUNCT
dem-1080	7	1	introduction	introduction	NOUN
dem-1080	7	2	market	market	NOUN
dem-1080	7	3	-	-	PUNCT
dem-1080	7	4	timing	timing	NOUN
dem-1080	7	5	is	be	AUX
dem-1080	7	6	one	one	NUM
dem-1080	7	7	strategy	strategy	NOUN
dem-1080	7	8	by	by	ADP
dem-1080	7	9	which	which	PRON
dem-1080	7	10	portfolio	portfolio	NOUN
dem-1080	7	11	managers	manager	NOUN
dem-1080	7	12	might	might	AUX
dem-1080	7	13	attempt	attempt	VERB
dem-1080	7	14	to	to	PART
dem-1080	7	15	obtain	obtain	VERB
dem-1080	7	16	returns	return	NOUN
dem-1080	7	17	in	in	ADP
dem-1080	7	18	excess	excess	NOUN
dem-1080	7	19	of	of	ADP
dem-1080	7	20	those	those	PRON
dem-1080	7	21	expected	expect	VERB
dem-1080	7	22	of	of	ADP
dem-1080	7	23	an	an	DET
dem-1080	7	24	unmanaged	unmanaged	ADJ
dem-1080	7	25	portfolio	portfolio	NOUN
dem-1080	7	26	.	.	PUNCT
dem-1080	8	1	one	one	NUM
dem-1080	8	2	of	of	ADP
dem-1080	8	3	the	the	DET
dem-1080	8	4	benefits	benefit	NOUN
dem-1080	8	5	of	of	ADP
dem-1080	8	6	market	market	NOUN
dem-1080	8	7	-	-	PUNCT
dem-1080	8	8	timing	timing	NOUN
dem-1080	8	9	is	be	AUX
dem-1080	8	10	the	the	DET
dem-1080	8	11	production	production	NOUN
dem-1080	8	12	of	of	ADP
dem-1080	8	13	a	a	DET
dem-1080	8	14	positively	positively	ADV
dem-1080	8	15	skewed	skewed	ADJ
dem-1080	8	16	distribution	distribution	NOUN
dem-1080	8	17	of	of	ADP
dem-1080	8	18	returns	return	NOUN
dem-1080	8	19	.	.	PUNCT
dem-1080	9	1	treynor	treynor	NOUN
dem-1080	9	2	and	and	CCONJ
dem-1080	9	3	mazuy	mazuy	PROPN
dem-1080	9	4	(	(	PUNCT
dem-1080	9	5	1966	1966	NUM
dem-1080	9	6	)	)	PUNCT
dem-1080	9	7	produce	produce	VERB
dem-1080	9	8	a	a	DET
dem-1080	9	9	single	single	ADJ
dem-1080	9	10	factor	factor	NOUN
dem-1080	9	11	model	model	NOUN
dem-1080	9	12	derived	derive	VERB
dem-1080	9	13	from	from	ADP
dem-1080	9	14	capm	capm	PROPN
dem-1080	9	15	in	in	ADP
dem-1080	9	16	which	which	PRON
dem-1080	9	17	a	a	DET
dem-1080	9	18	quadratic	quadratic	ADJ
dem-1080	9	19	term	term	NOUN
dem-1080	9	20	is	be	AUX
dem-1080	9	21	added	add	VERB
dem-1080	9	22	to	to	PART
dem-1080	9	23	reflect	reflect	VERB
dem-1080	9	24	the	the	DET
dem-1080	9	25	markettiming	markettiming	NOUN
dem-1080	9	26	.	.	PUNCT
dem-1080	10	1	the	the	DET
dem-1080	10	2	t	t	PROPN
dem-1080	10	3	-	-	PUNCT
dem-1080	10	4	m	m	PROPN
dem-1080	10	5	coefficient	coefficient	NOUN
dem-1080	10	6	measures	measure	NOUN
dem-1080	10	7	the	the	DET
dem-1080	10	8	co	co	NOUN
dem-1080	10	9	-	-	NOUN
dem-1080	10	10	skewness	skewness	NOUN
dem-1080	10	11	with	with	ADP
dem-1080	10	12	the	the	DET
dem-1080	10	13	benchmark	benchmark	NOUN
dem-1080	10	14	portfolio	portfolio	NOUN
dem-1080	10	15	.	.	PUNCT
dem-1080	11	1	henriksson	henriksson	PROPN
dem-1080	11	2	and	and	CCONJ
dem-1080	11	3	merton	merton	PROPN
dem-1080	11	4	(	(	PUNCT
dem-1080	11	5	1981	1981	NUM
dem-1080	11	6	)	)	PUNCT
dem-1080	11	7	start	start	VERB
dem-1080	11	8	from	from	ADP
dem-1080	11	9	a	a	DET
dem-1080	11	10	similar	similar	ADJ
dem-1080	11	11	idea	idea	NOUN
dem-1080	11	12	,	,	PUNCT
dem-1080	11	13	but	but	CCONJ
dem-1080	11	14	provide	provide	VERB
dem-1080	11	15	a	a	DET
dem-1080	11	16	different	different	ADJ
dem-1080	11	17	interpretation	interpretation	NOUN
dem-1080	11	18	of	of	ADP
dem-1080	11	19	market	market	NOUN
dem-1080	11	20	-	-	PUNCT
dem-1080	11	21	timing	timing	NOUN
dem-1080	11	22	ability	ability	NOUN
dem-1080	11	23	.	.	PUNCT
dem-1080	12	1	adding	add	VERB
dem-1080	12	2	a	a	DET
dem-1080	12	3	term	term	NOUN
dem-1080	12	4	in	in	ADP
dem-1080	12	5	the	the	DET
dem-1080	12	6	capm	capm	PROPN
dem-1080	12	7	model	model	NOUN
dem-1080	12	8	that	that	PRON
dem-1080	12	9	contains	contain	VERB
dem-1080	12	10	a	a	DET
dem-1080	12	11	dummy	dummy	ADJ
dem-1080	12	12	variable	variable	NOUN
dem-1080	12	13	based	base	VERB
dem-1080	12	14	on	on	ADP
dem-1080	12	15	the	the	DET
dem-1080	12	16	difference	difference	NOUN
dem-1080	12	17	between	between	ADP
dem-1080	12	18	market	market	NOUN
dem-1080	12	19	return	return	NOUN
dem-1080	12	20	and	and	CCONJ
dem-1080	12	21	the	the	DET
dem-1080	12	22	risk	risk	NOUN
dem-1080	12	23	-	-	PUNCT
dem-1080	12	24	free	free	ADJ
dem-1080	12	25	rate	rate	NOUN
dem-1080	12	26	,	,	PUNCT
dem-1080	12	27	they	they	PRON
dem-1080	12	28	permit	permit	VERB
dem-1080	12	29	managers	manager	NOUN
dem-1080	12	30	to	to	PART
dem-1080	12	31	choose	choose	VERB
dem-1080	12	32	between	between	ADP
dem-1080	12	33	two	two	NUM
dem-1080	12	34	levels	level	NOUN
dem-1080	12	35	of	of	ADP
dem-1080	12	36	market	market	NOUN
dem-1080	12	37	risk	risk	NOUN
dem-1080	12	38	:	:	PUNCT
dem-1080	12	39	an	an	DET
dem-1080	12	40	up	up	ADJ
dem-1080	12	41	-	-	PUNCT
dem-1080	12	42	market	market	NOUN
dem-1080	12	43	and	and	CCONJ
dem-1080	12	44	a	a	DET
dem-1080	12	45	down	down	ADJ
dem-1080	12	46	-	-	PUNCT
dem-1080	12	47	market	market	NOUN
dem-1080	12	48	beta	beta	NOUN
dem-1080	12	49	(	(	PUNCT
dem-1080	12	50	cogneau	cogneau	NOUN
dem-1080	12	51	,	,	PUNCT
dem-1080	12	52	hübner	hübner	NOUN
dem-1080	12	53	,	,	PUNCT
dem-1080	12	54	2009	2009	NUM
dem-1080	12	55	)	)	PUNCT
dem-1080	12	56	.	.	PUNCT
dem-1080	13	1	some	some	DET
dem-1080	13	2	other	other	ADJ
dem-1080	13	3	researchers	researcher	NOUN
dem-1080	13	4	extend	extend	VERB
dem-1080	13	5	market	market	NOUN
dem-1080	13	6	-	-	PUNCT
dem-1080	13	7	timing	timing	NOUN
dem-1080	13	8	models	model	NOUN
dem-1080	13	9	to	to	PART
dem-1080	13	10	multifactor	multifactor	VERB
dem-1080	13	11	as	as	ADV
dem-1080	13	12	well	well	ADV
dem-1080	13	13	as	as	ADP
dem-1080	13	14	†	†	PROPN
dem-1080	13	15	the	the	DET
dem-1080	13	16	author	author	NOUN
dem-1080	13	17	acknowledges	acknowledge	VERB
dem-1080	13	18	the	the	DET
dem-1080	13	19	financial	financial	ADJ
dem-1080	13	20	support	support	NOUN
dem-1080	13	21	in	in	ADP
dem-1080	13	22	2009	2009	NUM
dem-1080	13	23	–	–	PUNCT
dem-1080	13	24	2011	2011	NUM
dem-1080	13	25	from	from	ADP
dem-1080	13	26	the	the	DET
dem-1080	13	27	polish	polish	PROPN
dem-1080	13	28	ministry	ministry	PROPN
dem-1080	13	29	of	of	ADP
dem-1080	13	30	science	science	PROPN
dem-1080	13	31	and	and	CCONJ
dem-1080	13	32	higher	high	ADJ
dem-1080	13	33	education	education	NOUN
dem-1080	13	34	within	within	ADP
dem-1080	13	35	the	the	DET
dem-1080	13	36	grant	grant	NOUN
dem-1080	13	37	no	no	INTJ
dem-1080	13	38	.	.	PUNCT
dem-1080	14	1	n	n	PROPN
dem-1080	14	2	n113	n113	PROPN
dem-1080	14	3	173237	173237	NUM
dem-1080	14	4	.	.	PUNCT
dem-1080	15	1	1	1	NUM
dem-1080	15	2	lawrence	lawrence	PROPN
dem-1080	15	3	fisher	fisher	PROPN
dem-1080	15	4	’s	’s	PART
dem-1080	15	5	effect	effect	NOUN
dem-1080	15	6	(	(	PUNCT
dem-1080	15	7	1966	1966	NUM
dem-1080	15	8	)	)	PUNCT
dem-1080	15	9	joanna	joanna	NOUN
dem-1080	15	10	olbryś	olbryś	ADJ
dem-1080	15	11	186	186	NUM
dem-1080	15	12	to	to	ADP
dem-1080	15	13	conditional	conditional	ADJ
dem-1080	15	14	versions	version	NOUN
dem-1080	15	15	.	.	PUNCT
dem-1080	16	1	in	in	ADP
dem-1080	16	2	relation	relation	NOUN
dem-1080	16	3	to	to	ADP
dem-1080	16	4	the	the	DET
dem-1080	16	5	polish	polish	ADJ
dem-1080	16	6	market	market	NOUN
dem-1080	16	7	,	,	PUNCT
dem-1080	16	8	in	in	ADP
dem-1080	16	9	olbryś	olbryś	ADJ
dem-1080	16	10	(	(	PUNCT
dem-1080	16	11	2009	2009	NUM
dem-1080	16	12	)	)	PUNCT
dem-1080	16	13	the	the	DET
dem-1080	16	14	usefulness	usefulness	NOUN
dem-1080	16	15	of	of	ADP
dem-1080	16	16	the	the	DET
dem-1080	16	17	conditional	conditional	ADJ
dem-1080	16	18	multifactor	multifactor	NOUN
dem-1080	16	19	market	market	NOUN
dem-1080	16	20	-	-	PUNCT
dem-1080	16	21	timing	timing	NOUN
dem-1080	16	22	models	model	NOUN
dem-1080	16	23	for	for	ADP
dem-1080	16	24	the	the	DET
dem-1080	16	25	investment	investment	NOUN
dem-1080	16	26	managers	manager	NOUN
dem-1080	16	27	’	’	PART
dem-1080	16	28	performance	performance	NOUN
dem-1080	16	29	evaluation	evaluation	NOUN
dem-1080	16	30	on	on	ADP
dem-1080	16	31	the	the	DET
dem-1080	16	32	polish	polish	ADJ
dem-1080	16	33	market	market	NOUN
dem-1080	16	34	has	have	AUX
dem-1080	16	35	been	be	AUX
dem-1080	16	36	examined	examine	VERB
dem-1080	16	37	.	.	PUNCT
dem-1080	17	1	ferson	ferson	NOUN
dem-1080	17	2	and	and	CCONJ
dem-1080	17	3	schadt	schadt	NOUN
dem-1080	17	4	(	(	PUNCT
dem-1080	17	5	1996	1996	NUM
dem-1080	17	6	)	)	PUNCT
dem-1080	17	7	use	use	VERB
dem-1080	17	8	a	a	DET
dem-1080	17	9	collection	collection	NOUN
dem-1080	17	10	of	of	ADP
dem-1080	17	11	public	public	ADJ
dem-1080	17	12	information	information	NOUN
dem-1080	17	13	variables	variable	NOUN
dem-1080	17	14	.	.	PUNCT
dem-1080	18	1	in	in	ADP
dem-1080	18	2	poland	poland	PROPN
dem-1080	18	3	,	,	PUNCT
dem-1080	18	4	the	the	DET
dem-1080	18	5	suitable	suitable	ADJ
dem-1080	18	6	variables	variable	NOUN
dem-1080	18	7	are	be	AUX
dem-1080	18	8	:	:	PUNCT
dem-1080	18	9	(	(	PUNCT
dem-1080	18	10	1	1	X
dem-1080	18	11	)	)	PUNCT
dem-1080	18	12	the	the	DET
dem-1080	18	13	lagged	lag	VERB
dem-1080	18	14	monthly	monthly	ADJ
dem-1080	18	15	dividend	dividend	NOUN
dem-1080	18	16	yield	yield	NOUN
dem-1080	18	17	of	of	ADP
dem-1080	18	18	the	the	DET
dem-1080	18	19	wse	wse	PROPN
dem-1080	18	20	stock	stock	PROPN
dem-1080	18	21	index	index	PROPN
dem-1080	18	22	,	,	PUNCT
dem-1080	18	23	(	(	PUNCT
dem-1080	18	24	2	2	X
dem-1080	18	25	)	)	PUNCT
dem-1080	18	26	the	the	DET
dem-1080	18	27	lagged	lag	VERB
dem-1080	18	28	monthly	monthly	ADJ
dem-1080	18	29	level	level	NOUN
dem-1080	18	30	of	of	ADP
dem-1080	18	31	the	the	DET
dem-1080	18	32	1	1	NUM
dem-1080	18	33	m	m	NOUN
dem-1080	18	34	wibor	wibor	NOUN
dem-1080	18	35	,	,	PUNCT
dem-1080	18	36	(	(	PUNCT
dem-1080	18	37	3	3	X
dem-1080	18	38	)	)	PUNCT
dem-1080	18	39	the	the	DET
dem-1080	18	40	lagged	lag	VERB
dem-1080	18	41	monthly	monthly	ADJ
dem-1080	18	42	measure	measure	NOUN
dem-1080	18	43	of	of	ADP
dem-1080	18	44	the	the	DET
dem-1080	18	45	slope	slope	NOUN
dem-1080	18	46	of	of	ADP
dem-1080	18	47	the	the	DET
dem-1080	18	48	term	term	NOUN
dem-1080	18	49	structure	structure	NOUN
dem-1080	18	50	(	(	PUNCT
dem-1080	18	51	olbryś	olbryś	ADJ
dem-1080	18	52	,	,	PUNCT
dem-1080	18	53	2009	2009	NUM
dem-1080	18	54	,	,	PUNCT
dem-1080	18	55	p.	p.	NOUN
dem-1080	18	56	522	522	NUM
dem-1080	18	57	)	)	PUNCT
dem-1080	18	58	.	.	PUNCT
dem-1080	19	1	the	the	DET
dem-1080	19	2	evidence	evidence	NOUN
dem-1080	19	3	on	on	ADP
dem-1080	19	4	polish	polish	ADJ
dem-1080	19	5	market	market	NOUN
dem-1080	19	6	shows	show	VERB
dem-1080	19	7	that	that	SCONJ
dem-1080	19	8	the	the	DET
dem-1080	19	9	quality	quality	NOUN
dem-1080	19	10	and	and	CCONJ
dem-1080	19	11	usefulness	usefulness	NOUN
dem-1080	19	12	of	of	ADP
dem-1080	19	13	these	these	DET
dem-1080	19	14	models	model	NOUN
dem-1080	19	15	is	be	AUX
dem-1080	19	16	rather	rather	ADV
dem-1080	19	17	low	low	ADJ
dem-1080	19	18	.	.	PUNCT
dem-1080	20	1	as	as	ADP
dem-1080	20	2	for	for	ADP
dem-1080	20	3	the	the	DET
dem-1080	20	4	other	other	ADJ
dem-1080	20	5	multifactor	multifactor	NOUN
dem-1080	20	6	models	model	NOUN
dem-1080	20	7	,	,	PUNCT
dem-1080	20	8	in	in	ADP
dem-1080	20	9	light	light	NOUN
dem-1080	20	10	of	of	ADP
dem-1080	20	11	the	the	DET
dem-1080	20	12	empirical	empirical	ADJ
dem-1080	20	13	results	result	NOUN
dem-1080	20	14	for	for	ADP
dem-1080	20	15	the	the	DET
dem-1080	20	16	polish	polish	ADJ
dem-1080	20	17	market	market	NOUN
dem-1080	20	18	,	,	PUNCT
dem-1080	20	19	the	the	DET
dem-1080	20	20	influence	influence	NOUN
dem-1080	20	21	of	of	ADP
dem-1080	20	22	the	the	DET
dem-1080	20	23	fama	fama	NOUN
dem-1080	20	24	and	and	CCONJ
dem-1080	20	25	french	french	NOUN
dem-1080	20	26	’s	’s	PART
dem-1080	20	27	(	(	PUNCT
dem-1080	20	28	1993	1993	NUM
dem-1080	20	29	)	)	PUNCT
dem-1080	20	30	size	size	NOUN
dem-1080	20	31	(	(	PUNCT
dem-1080	20	32	smb	smb	NOUN
dem-1080	20	33	)	)	PUNCT
dem-1080	20	34	and	and	CCONJ
dem-1080	20	35	book	book	NOUN
dem-1080	20	36	-	-	PUNCT
dem-1080	20	37	to	to	ADP
dem-1080	20	38	-	-	PUNCT
dem-1080	20	39	market	market	NOUN
dem-1080	20	40	(	(	PUNCT
dem-1080	20	41	hml	hml	PROPN
dem-1080	20	42	)	)	PUNCT
dem-1080	20	43	spread	spread	NOUN
dem-1080	20	44	variables	variable	NOUN
dem-1080	20	45	,	,	PUNCT
dem-1080	20	46	and	and	CCONJ
dem-1080	20	47	carhart	carhart	NOUN
dem-1080	20	48	’s	’s	PART
dem-1080	20	49	(	(	PUNCT
dem-1080	20	50	1997	1997	NUM
dem-1080	20	51	)	)	PUNCT
dem-1080	20	52	momentum	momentum	NOUN
dem-1080	20	53	(	(	PUNCT
dem-1080	20	54	wml	wml	PROPN
dem-1080	20	55	)	)	PUNCT
dem-1080	20	56	factor	factor	NOUN
dem-1080	20	57	on	on	ADP
dem-1080	20	58	the	the	DET
dem-1080	20	59	polish	polish	ADJ
dem-1080	20	60	equity	equity	NOUN
dem-1080	20	61	funds	fund	NOUN
dem-1080	20	62	’	'	PUNCT
dem-1080	20	63	market	market	NOUN
dem-1080	20	64	seems	seem	VERB
dem-1080	20	65	to	to	PART
dem-1080	20	66	be	be	AUX
dem-1080	20	67	rather	rather	ADV
dem-1080	20	68	controversial	controversial	ADJ
dem-1080	20	69	(	(	PUNCT
dem-1080	20	70	olbryś	olbryś	ADJ
dem-1080	20	71	,	,	PUNCT
dem-1080	20	72	2010a	2010a	PROPN
dem-1080	20	73	b	b	NOUN
dem-1080	20	74	;	;	PUNCT
dem-1080	20	75	2012	2012	NUM
dem-1080	20	76	)	)	PUNCT
dem-1080	20	77	.	.	PUNCT
dem-1080	21	1	it	it	PRON
dem-1080	21	2	is	be	AUX
dem-1080	21	3	worth	worth	ADJ
dem-1080	21	4	stressing	stress	VERB
dem-1080	21	5	that	that	SCONJ
dem-1080	21	6	the	the	DET
dem-1080	21	7	smb	smb	PROPN
dem-1080	21	8	,	,	PUNCT
dem-1080	21	9	hml	hml	PROPN
dem-1080	21	10	,	,	PUNCT
dem-1080	21	11	and	and	CCONJ
dem-1080	21	12	wml	wml	PROPN
dem-1080	21	13	factors	factor	NOUN
dem-1080	21	14	have	have	VERB
dem-1080	21	15	a	a	DET
dem-1080	21	16	diverse	diverse	ADJ
dem-1080	21	17	explanatory	explanatory	ADJ
dem-1080	21	18	power	power	NOUN
dem-1080	21	19	for	for	ADP
dem-1080	21	20	the	the	DET
dem-1080	21	21	sample	sample	NOUN
dem-1080	21	22	of	of	ADP
dem-1080	21	23	polish	polish	ADJ
dem-1080	21	24	funds	fund	NOUN
dem-1080	21	25	.	.	PUNCT
dem-1080	22	1	another	another	DET
dem-1080	22	2	important	important	ADJ
dem-1080	22	3	finding	finding	NOUN
dem-1080	22	4	is	be	AUX
dem-1080	22	5	that	that	SCONJ
dem-1080	22	6	the	the	DET
dem-1080	22	7	investigated	investigate	VERB
dem-1080	22	8	funds	fund	NOUN
dem-1080	22	9	are	be	AUX
dem-1080	22	10	not	not	PART
dem-1080	22	11	homogeneous	homogeneous	ADJ
dem-1080	22	12	regarding	regard	VERB
dem-1080	22	13	the	the	DET
dem-1080	22	14	influence	influence	NOUN
dem-1080	22	15	of	of	ADP
dem-1080	22	16	the	the	DET
dem-1080	22	17	size	size	NOUN
dem-1080	22	18	,	,	PUNCT
dem-1080	22	19	book	book	NOUN
dem-1080	22	20	-	-	PUNCT
dem-1080	22	21	to	to	ADP
dem-1080	22	22	-	-	PUNCT
dem-1080	22	23	market	market	NOUN
dem-1080	22	24	and	and	CCONJ
dem-1080	22	25	momentum	momentum	NOUN
dem-1080	22	26	factors	factor	NOUN
dem-1080	22	27	,	,	PUNCT
dem-1080	22	28	despite	despite	SCONJ
dem-1080	22	29	the	the	DET
dem-1080	22	30	fact	fact	NOUN
dem-1080	22	31	that	that	SCONJ
dem-1080	22	32	all	all	PRON
dem-1080	22	33	of	of	ADP
dem-1080	22	34	them	they	PRON
dem-1080	22	35	are	be	AUX
dem-1080	22	36	polish	polish	ADJ
dem-1080	22	37	equity	equity	NOUN
dem-1080	22	38	open	open	ADJ
dem-1080	22	39	-	-	PUNCT
dem-1080	22	40	end	end	NOUN
dem-1080	22	41	mutual	mutual	ADJ
dem-1080	22	42	funds	fund	NOUN
dem-1080	22	43	(	(	PUNCT
dem-1080	22	44	olbryś	olbryś	ADJ
dem-1080	22	45	,	,	PUNCT
dem-1080	22	46	2011a	2011a	NUM
dem-1080	22	47	)	)	PUNCT
dem-1080	22	48	.	.	PUNCT
dem-1080	23	1	for	for	ADP
dem-1080	23	2	this	this	DET
dem-1080	23	3	reason	reason	NOUN
dem-1080	23	4	,	,	PUNCT
dem-1080	23	5	the	the	DET
dem-1080	23	6	smb	smb	PROPN
dem-1080	23	7	,	,	PUNCT
dem-1080	23	8	hml	hml	PROPN
dem-1080	23	9	,	,	PUNCT
dem-1080	23	10	and	and	CCONJ
dem-1080	23	11	wml	wml	PROPN
dem-1080	23	12	factors	factor	NOUN
dem-1080	23	13	have	have	AUX
dem-1080	23	14	not	not	PART
dem-1080	23	15	been	be	AUX
dem-1080	23	16	taken	take	VERB
dem-1080	23	17	into	into	ADP
dem-1080	23	18	account	account	NOUN
dem-1080	23	19	as	as	ADP
dem-1080	23	20	explanatory	explanatory	ADJ
dem-1080	23	21	variables	variable	NOUN
dem-1080	23	22	in	in	ADP
dem-1080	23	23	our	our	PRON
dem-1080	23	24	models	model	NOUN
dem-1080	23	25	.	.	PUNCT
dem-1080	24	1	according	accord	VERB
dem-1080	24	2	to	to	ADP
dem-1080	24	3	the	the	DET
dem-1080	24	4	literature	literature	NOUN
dem-1080	24	5	,	,	PUNCT
dem-1080	24	6	the	the	DET
dem-1080	24	7	methods	method	NOUN
dem-1080	24	8	most	most	ADV
dem-1080	24	9	widely	widely	ADV
dem-1080	24	10	applied	apply	VERB
dem-1080	24	11	in	in	ADP
dem-1080	24	12	markettiming	markettime	VERB
dem-1080	24	13	models	model	NOUN
dem-1080	24	14	estimation	estimation	NOUN
dem-1080	24	15	are	be	AUX
dem-1080	24	16	the	the	DET
dem-1080	24	17	two	two	NUM
dem-1080	24	18	proposed	propose	VERB
dem-1080	24	19	by	by	ADP
dem-1080	24	20	white	white	ADJ
dem-1080	24	21	(	(	PUNCT
dem-1080	24	22	1980	1980	NUM
dem-1080	24	23	)	)	PUNCT
dem-1080	24	24	or	or	CCONJ
dem-1080	24	25	newey	newey	PROPN
dem-1080	24	26	-	-	PUNCT
dem-1080	24	27	west	west	PROPN
dem-1080	24	28	(	(	PUNCT
dem-1080	24	29	1987	1987	NUM
dem-1080	24	30	)	)	PUNCT
dem-1080	24	31	(	(	PUNCT
dem-1080	24	32	see	see	VERB
dem-1080	24	33	e.g.	e.g.	ADV
dem-1080	24	34	ferson	ferson	NOUN
dem-1080	24	35	,	,	PUNCT
dem-1080	24	36	schadt	schadt	NOUN
dem-1080	24	37	,	,	PUNCT
dem-1080	24	38	1996	1996	NUM
dem-1080	24	39	;	;	PUNCT
dem-1080	24	40	bollen	bollen	PROPN
dem-1080	24	41	,	,	PUNCT
dem-1080	24	42	busse	busse	PROPN
dem-1080	24	43	,	,	PUNCT
dem-1080	24	44	2001	2001	NUM
dem-1080	24	45	;	;	PUNCT
dem-1080	24	46	romacho	romacho	NOUN
dem-1080	24	47	,	,	PUNCT
dem-1080	24	48	cortez	cortez	PROPN
dem-1080	24	49	,	,	PUNCT
dem-1080	24	50	2006	2006	NUM
dem-1080	24	51	;	;	PUNCT
dem-1080	24	52	olbryś	olbryś	ADJ
dem-1080	24	53	,	,	PUNCT
dem-1080	24	54	2010a	2010a	NUM
dem-1080	24	55	,	,	PUNCT
dem-1080	24	56	b	b	NOUN
dem-1080	24	57	)	)	PUNCT
dem-1080	24	58	.	.	PUNCT
dem-1080	25	1	some	some	DET
dem-1080	25	2	previous	previous	ADJ
dem-1080	25	3	publications	publication	NOUN
dem-1080	25	4	also	also	ADV
dem-1080	25	5	describe	describe	VERB
dem-1080	25	6	applications	application	NOUN
dem-1080	25	7	of	of	ADP
dem-1080	25	8	the	the	DET
dem-1080	25	9	gls	gls	ADJ
dem-1080	25	10	procedure	procedure	NOUN
dem-1080	25	11	with	with	ADP
dem-1080	25	12	correction	correction	NOUN
dem-1080	25	13	for	for	ADP
dem-1080	25	14	heteroskedasticity	heteroskedasticity	NOUN
dem-1080	25	15	(	(	PUNCT
dem-1080	25	16	see	see	VERB
dem-1080	25	17	e.g.	e.g.	ADV
dem-1080	25	18	henriksson	henriksson	NOUN
dem-1080	25	19	,	,	PUNCT
dem-1080	25	20	merton	merton	PROPN
dem-1080	25	21	,	,	PUNCT
dem-1080	25	22	1981	1981	NUM
dem-1080	25	23	;	;	PUNCT
dem-1080	25	24	henriksson	henriksson	NOUN
dem-1080	25	25	,	,	PUNCT
dem-1080	25	26	1984	1984	NUM
dem-1080	25	27	)	)	PUNCT
dem-1080	25	28	or	or	CCONJ
dem-1080	25	29	the	the	DET
dem-1080	25	30	fama	fama	PROPN
dem-1080	25	31	-	-	PUNCT
dem-1080	25	32	macbeth	macbeth	PROPN
dem-1080	25	33	cross	cross	ADJ
dem-1080	25	34	-	-	ADJ
dem-1080	25	35	sectional	sectional	ADJ
dem-1080	25	36	regression	regression	NOUN
dem-1080	25	37	approach	approach	NOUN
dem-1080	25	38	from	from	ADP
dem-1080	25	39	1973	1973	NUM
dem-1080	25	40	(	(	PUNCT
dem-1080	25	41	carhart	carhart	NOUN
dem-1080	25	42	,	,	PUNCT
dem-1080	25	43	1997	1997	NUM
dem-1080	25	44	)	)	PUNCT
dem-1080	25	45	.	.	PUNCT
dem-1080	26	1	kao	kao	PROPN
dem-1080	26	2	et	et	PROPN
dem-1080	26	3	al	al	PROPN
dem-1080	26	4	.	.	PROPN
dem-1080	27	1	(	(	PUNCT
dem-1080	27	2	1998	1998	NUM
dem-1080	27	3	)	)	PUNCT
dem-1080	27	4	employ	employ	VERB
dem-1080	27	5	an	an	DET
dem-1080	27	6	autoregressive	autoregressive	ADJ
dem-1080	27	7	conditional	conditional	ADJ
dem-1080	27	8	heteroskedastic	heteroskedastic	NOUN
dem-1080	27	9	(	(	PUNCT
dem-1080	27	10	arch	arch	NOUN
dem-1080	27	11	)	)	PUNCT
dem-1080	27	12	model	model	NOUN
dem-1080	27	13	,	,	PUNCT
dem-1080	27	14	but	but	CCONJ
dem-1080	27	15	without	without	ADP
dem-1080	27	16	testing	test	VERB
dem-1080	27	17	the	the	DET
dem-1080	27	18	arch	arch	ADJ
dem-1080	27	19	effects	effect	NOUN
dem-1080	27	20	.	.	PUNCT
dem-1080	28	1	recent	recent	ADJ
dem-1080	28	2	studies	study	NOUN
dem-1080	28	3	in	in	ADP
dem-1080	28	4	multifactor	multifactor	NOUN
dem-1080	28	5	market	market	NOUN
dem-1080	28	6	-	-	PUNCT
dem-1080	28	7	timing	timing	NOUN
dem-1080	28	8	models	model	NOUN
dem-1080	28	9	in	in	ADP
dem-1080	28	10	the	the	DET
dem-1080	28	11	case	case	NOUN
dem-1080	28	12	of	of	ADP
dem-1080	28	13	polish	polish	ADJ
dem-1080	28	14	equity	equity	NOUN
dem-1080	28	15	funds	fund	NOUN
dem-1080	28	16	by	by	ADP
dem-1080	28	17	olbryś	olbryś	ADJ
dem-1080	28	18	(	(	PUNCT
dem-1080	28	19	2010a	2010a	NUM
dem-1080	28	20	)	)	PUNCT
dem-1080	28	21	present	present	ADJ
dem-1080	28	22	possibilities	possibility	NOUN
dem-1080	28	23	and	and	CCONJ
dem-1080	28	24	examples	example	NOUN
dem-1080	28	25	of	of	ADP
dem-1080	28	26	applying	apply	VERB
dem-1080	28	27	the	the	DET
dem-1080	28	28	seemingly	seemingly	ADV
dem-1080	28	29	unrelated	unrelated	ADJ
dem-1080	28	30	regression	regression	NOUN
dem-1080	28	31	method	method	NOUN
dem-1080	28	32	(	(	PUNCT
dem-1080	28	33	sur	sur	PROPN
dem-1080	28	34	)	)	PUNCT
dem-1080	28	35	which	which	PRON
dem-1080	28	36	was	be	AUX
dem-1080	28	37	described	describe	VERB
dem-1080	28	38	by	by	ADP
dem-1080	28	39	zellner	zellner	NOUN
dem-1080	28	40	(	(	PUNCT
dem-1080	28	41	1962	1962	NUM
dem-1080	28	42	)	)	PUNCT
dem-1080	28	43	.	.	PUNCT
dem-1080	29	1	the	the	DET
dem-1080	29	2	author	author	NOUN
dem-1080	29	3	’s	’s	PART
dem-1080	29	4	recent	recent	ADJ
dem-1080	29	5	research	research	NOUN
dem-1080	29	6	provide	provide	VERB
dem-1080	29	7	evidence	evidence	NOUN
dem-1080	29	8	of	of	ADP
dem-1080	29	9	pronounced	pronounce	VERB
dem-1080	29	10	arch	arch	ADJ
dem-1080	29	11	effects	effect	NOUN
dem-1080	29	12	(	(	PUNCT
dem-1080	29	13	engle	engle	NOUN
dem-1080	29	14	,	,	PUNCT
dem-1080	29	15	1982	1982	NUM
dem-1080	29	16	)	)	PUNCT
dem-1080	29	17	in	in	ADP
dem-1080	29	18	the	the	DET
dem-1080	29	19	market	market	NOUN
dem-1080	29	20	-	-	PUNCT
dem-1080	29	21	timing	timing	NOUN
dem-1080	29	22	models	model	NOUN
dem-1080	29	23	of	of	ADP
dem-1080	29	24	polish	polish	ADJ
dem-1080	29	25	equity	equity	NOUN
dem-1080	29	26	open	open	ADJ
dem-1080	29	27	-	-	PUNCT
dem-1080	29	28	end	end	NOUN
dem-1080	29	29	mutual	mutual	ADJ
dem-1080	29	30	funds	fund	NOUN
dem-1080	29	31	.	.	PUNCT
dem-1080	30	1	for	for	ADP
dem-1080	30	2	this	this	DET
dem-1080	30	3	reason	reason	NOUN
dem-1080	30	4	,	,	PUNCT
dem-1080	30	5	the	the	DET
dem-1080	30	6	main	main	ADJ
dem-1080	30	7	goal	goal	NOUN
dem-1080	30	8	of	of	ADP
dem-1080	30	9	this	this	DET
dem-1080	30	10	study	study	NOUN
dem-1080	30	11	is	be	AUX
dem-1080	30	12	to	to	PART
dem-1080	30	13	present	present	VERB
dem-1080	30	14	the	the	DET
dem-1080	30	15	regression	regression	NOUN
dem-1080	30	16	results	result	NOUN
dem-1080	30	17	of	of	ADP
dem-1080	30	18	the	the	DET
dem-1080	30	19	new	new	ADJ
dem-1080	30	20	garch(p	garch(p	PROPN
dem-1080	30	21	,	,	PUNCT
dem-1080	30	22	q	q	NOUN
dem-1080	30	23	)	)	PUNCT
dem-1080	30	24	models	model	NOUN
dem-1080	30	25	of	of	ADP
dem-1080	30	26	these	these	DET
dem-1080	30	27	funds	fund	NOUN
dem-1080	30	28	.	.	PUNCT
dem-1080	31	1	we	we	PRON
dem-1080	31	2	estimate	estimate	VERB
dem-1080	31	3	the	the	DET
dem-1080	31	4	garch	garch	NOUN
dem-1080	31	5	versions	version	NOUN
dem-1080	31	6	of	of	ADP
dem-1080	31	7	classical	classical	ADJ
dem-1080	31	8	market	market	NOUN
dem-1080	31	9	-	-	PUNCT
dem-1080	31	10	timing	timing	NOUN
dem-1080	31	11	models	model	NOUN
dem-1080	31	12	with	with	ADP
dem-1080	31	13	lagged	lag	VERB
dem-1080	31	14	values	value	NOUN
dem-1080	31	15	of	of	ADP
dem-1080	31	16	the	the	DET
dem-1080	31	17	market	market	NOUN
dem-1080	31	18	factor	factor	NOUN
dem-1080	31	19	as	as	ADP
dem-1080	31	20	an	an	DET
dem-1080	31	21	additional	additional	ADJ
dem-1080	31	22	independent	independent	ADJ
dem-1080	31	23	variable	variable	NOUN
dem-1080	31	24	because	because	SCONJ
dem-1080	31	25	of	of	ADP
dem-1080	31	26	the	the	DET
dem-1080	31	27	pronounced	pronounce	VERB
dem-1080	31	28	fisher	fisher	PROPN
dem-1080	31	29	’s	’s	PART
dem-1080	31	30	effect	effect	NOUN
dem-1080	31	31	in	in	ADP
dem-1080	31	32	the	the	DET
dem-1080	31	33	case	case	NOUN
dem-1080	31	34	of	of	ADP
dem-1080	31	35	the	the	DET
dem-1080	31	36	main	main	ADJ
dem-1080	31	37	warsaw	warsaw	PROPN
dem-1080	31	38	stock	stock	NOUN
dem-1080	31	39	exchange	exchange	NOUN
dem-1080	31	40	indexes	index	NOUN
dem-1080	31	41	.	.	PUNCT
dem-1080	32	1	the	the	DET
dem-1080	32	2	market	market	NOUN
dem-1080	32	3	-	-	PUNCT
dem-1080	32	4	timing	timing	NOUN
dem-1080	32	5	and	and	CCONJ
dem-1080	32	6	selectivity	selectivity	NOUN
dem-1080	32	7	abilities	ability	NOUN
dem-1080	32	8	of	of	ADP
dem-1080	32	9	fund	fund	NOUN
dem-1080	32	10	managers	manager	NOUN
dem-1080	32	11	are	be	AUX
dem-1080	32	12	evaluated	evaluate	VERB
dem-1080	32	13	for	for	ADP
dem-1080	32	14	the	the	DET
dem-1080	32	15	period	period	NOUN
dem-1080	32	16	january	january	PROPN
dem-1080	32	17	2003	2003	NUM
dem-1080	32	18	–	–	PUNCT
dem-1080	32	19	june	june	PROPN
dem-1080	32	20	2011	2011	NUM
dem-1080	32	21	.	.	PUNCT
dem-1080	33	1	in	in	ADP
dem-1080	33	2	comparison	comparison	NOUN
dem-1080	33	3	to	to	ADP
dem-1080	33	4	robust	robust	ADJ
dem-1080	33	5	newey	newey	PROPN
dem-1080	33	6	-	-	PUNCT
dem-1080	33	7	west	west	PROPN
dem-1080	33	8	method	method	PROPN
dem-1080	33	9	results	result	NOUN
dem-1080	33	10	,	,	PUNCT
dem-1080	33	11	our	our	PRON
dem-1080	33	12	findings	finding	NOUN
dem-1080	33	13	suggest	suggest	VERB
dem-1080	33	14	that	that	SCONJ
dem-1080	33	15	the	the	DET
dem-1080	33	16	garch(p	garch(p	PROPN
dem-1080	33	17	,	,	PUNCT
dem-1080	33	18	q	q	NOUN
dem-1080	33	19	)	)	PUNCT
dem-1080	33	20	model	model	NOUN
dem-1080	33	21	is	be	AUX
dem-1080	33	22	suitable	suitable	ADJ
dem-1080	33	23	but	but	CCONJ
dem-1080	33	24	not	not	PART
dem-1080	33	25	necessary	necessary	ADJ
dem-1080	33	26	for	for	ADP
dem-1080	33	27	such	such	ADJ
dem-1080	33	28	applications	application	NOUN
dem-1080	33	29	.	.	PUNCT
dem-1080	34	1	to	to	ADP
dem-1080	34	2	the	the	DET
dem-1080	34	3	best	good	ADJ
dem-1080	34	4	of	of	ADP
dem-1080	34	5	author	author	NOUN
dem-1080	34	6	’s	’s	PART
dem-1080	34	7	knowledge	knowledge	NOUN
dem-1080	34	8	,	,	PUNCT
dem-1080	34	9	no	no	DET
dem-1080	34	10	such	such	ADJ
dem-1080	34	11	investigation	investigation	NOUN
dem-1080	34	12	has	have	AUX
dem-1080	34	13	been	be	AUX
dem-1080	34	14	undertaken	undertake	VERB
dem-1080	34	15	for	for	ADP
dem-1080	34	16	the	the	DET
dem-1080	34	17	polish	polish	ADJ
dem-1080	34	18	market	market	NOUN
dem-1080	34	19	.	.	PUNCT
dem-1080	35	1	arch	arch	ADJ
dem-1080	35	2	effect	effect	NOUN
dem-1080	35	3	in	in	ADP
dem-1080	35	4	classical	classical	ADJ
dem-1080	35	5	market	market	NOUN
dem-1080	35	6	-	-	PUNCT
dem-1080	35	7	timing	timing	NOUN
dem-1080	35	8	models	model	NOUN
dem-1080	35	9	with	with	ADP
dem-1080	35	10	lagged	lag	VERB
dem-1080	35	11	market	market	NOUN
dem-1080	35	12	variable	variable	NOUN
dem-1080	35	13	…	…	PUNCT
dem-1080	35	14	187	187	NUM
dem-1080	35	15	the	the	DET
dem-1080	35	16	remainder	remainder	NOUN
dem-1080	35	17	of	of	ADP
dem-1080	35	18	the	the	DET
dem-1080	35	19	paper	paper	NOUN
dem-1080	35	20	is	be	AUX
dem-1080	35	21	organized	organize	VERB
dem-1080	35	22	as	as	SCONJ
dem-1080	35	23	follows	follow	VERB
dem-1080	35	24	.	.	PUNCT
dem-1080	36	1	section	section	NOUN
dem-1080	36	2	1	1	NUM
dem-1080	36	3	specifies	specifie	NOUN
dem-1080	36	4	a	a	DET
dem-1080	36	5	methodological	methodological	ADJ
dem-1080	36	6	background	background	NOUN
dem-1080	36	7	and	and	CCONJ
dem-1080	36	8	a	a	DET
dem-1080	36	9	brief	brief	ADJ
dem-1080	36	10	literature	literature	NOUN
dem-1080	36	11	review	review	NOUN
dem-1080	36	12	.	.	PUNCT
dem-1080	37	1	first	first	ADV
dem-1080	37	2	,	,	PUNCT
dem-1080	37	3	we	we	PRON
dem-1080	37	4	stress	stress	VERB
dem-1080	37	5	the	the	DET
dem-1080	37	6	validity	validity	NOUN
dem-1080	37	7	of	of	ADP
dem-1080	37	8	the	the	DET
dem-1080	37	9	non	non	ADJ
dem-1080	37	10	-	-	ADJ
dem-1080	37	11	trading	trading	ADJ
dem-1080	37	12	problem	problem	NOUN
dem-1080	37	13	and	and	CCONJ
dem-1080	37	14	the	the	DET
dem-1080	37	15	fisher	fisher	NOUN
dem-1080	37	16	’s	’s	PART
dem-1080	37	17	effect	effect	NOUN
dem-1080	37	18	in	in	ADP
dem-1080	37	19	the	the	DET
dem-1080	37	20	case	case	NOUN
dem-1080	37	21	of	of	ADP
dem-1080	37	22	marketindex	marketindex	NOUN
dem-1080	37	23	returns	return	NOUN
dem-1080	37	24	.	.	PUNCT
dem-1080	38	1	next	next	ADV
dem-1080	38	2	,	,	PUNCT
dem-1080	38	3	we	we	PRON
dem-1080	38	4	present	present	VERB
dem-1080	38	5	classical	classical	ADJ
dem-1080	38	6	market	market	NOUN
dem-1080	38	7	-	-	PUNCT
dem-1080	38	8	timing	timing	NOUN
dem-1080	38	9	models	model	NOUN
dem-1080	38	10	with	with	ADP
dem-1080	38	11	lagged	lag	VERB
dem-1080	38	12	values	value	NOUN
dem-1080	38	13	of	of	ADP
dem-1080	38	14	the	the	DET
dem-1080	38	15	market	market	NOUN
dem-1080	38	16	factor	factor	NOUN
dem-1080	38	17	as	as	ADP
dem-1080	38	18	additional	additional	ADJ
dem-1080	38	19	explanatory	explanatory	ADJ
dem-1080	38	20	variable	variable	NOUN
dem-1080	38	21	.	.	PUNCT
dem-1080	39	1	we	we	PRON
dem-1080	39	2	also	also	ADV
dem-1080	39	3	present	present	VERB
dem-1080	39	4	a	a	DET
dem-1080	39	5	brief	brief	ADJ
dem-1080	39	6	theoretical	theoretical	ADJ
dem-1080	39	7	framework	framework	NOUN
dem-1080	39	8	concerning	concern	VERB
dem-1080	39	9	the	the	DET
dem-1080	39	10	arch(q	arch(q	NOUN
dem-1080	39	11	)	)	PUNCT
dem-1080	39	12	and	and	CCONJ
dem-1080	39	13	the	the	DET
dem-1080	39	14	garch(p	garch(p	PROPN
dem-1080	39	15	,	,	PUNCT
dem-1080	39	16	q	q	NOUN
dem-1080	39	17	)	)	PUNCT
dem-1080	39	18	models	model	NOUN
dem-1080	39	19	.	.	PUNCT
dem-1080	40	1	in	in	ADP
dem-1080	40	2	the	the	DET
dem-1080	40	3	end	end	NOUN
dem-1080	40	4	of	of	ADP
dem-1080	40	5	section	section	NOUN
dem-1080	40	6	1	1	NUM
dem-1080	40	7	,	,	PUNCT
dem-1080	40	8	we	we	PRON
dem-1080	40	9	describe	describe	VERB
dem-1080	40	10	tests	test	NOUN
dem-1080	40	11	for	for	ADP
dem-1080	40	12	the	the	DET
dem-1080	40	13	arch	arch	ADJ
dem-1080	40	14	effect	effect	NOUN
dem-1080	40	15	in	in	ADP
dem-1080	40	16	an	an	DET
dem-1080	40	17	econometric	econometric	ADJ
dem-1080	40	18	model	model	NOUN
dem-1080	40	19	.	.	PUNCT
dem-1080	41	1	in	in	ADP
dem-1080	41	2	section	section	NOUN
dem-1080	41	3	2	2	NUM
dem-1080	41	4	,	,	PUNCT
dem-1080	41	5	we	we	PRON
dem-1080	41	6	present	present	VERB
dem-1080	41	7	the	the	DET
dem-1080	41	8	data	datum	NOUN
dem-1080	41	9	and	and	CCONJ
dem-1080	41	10	methodology	methodology	NOUN
dem-1080	41	11	in	in	ADP
dem-1080	41	12	the	the	DET
dem-1080	41	13	case	case	NOUN
dem-1080	41	14	of	of	ADP
dem-1080	41	15	polish	polish	ADJ
dem-1080	41	16	emerging	emerge	VERB
dem-1080	41	17	market	market	NOUN
dem-1080	41	18	and	and	CCONJ
dem-1080	41	19	discuss	discuss	VERB
dem-1080	41	20	the	the	DET
dem-1080	41	21	results	result	NOUN
dem-1080	41	22	obtained	obtain	VERB
dem-1080	41	23	.	.	PUNCT
dem-1080	42	1	section	section	NOUN
dem-1080	42	2	3	3	NUM
dem-1080	42	3	recalls	recall	VERB
dem-1080	42	4	the	the	DET
dem-1080	42	5	main	main	ADJ
dem-1080	42	6	findings	finding	NOUN
dem-1080	42	7	and	and	CCONJ
dem-1080	42	8	presents	present	VERB
dem-1080	42	9	the	the	DET
dem-1080	42	10	conclusions	conclusion	NOUN
dem-1080	42	11	.	.	PUNCT
dem-1080	43	1	1	1	X
dem-1080	43	2	.	.	X
dem-1080	43	3	methodological	methodological	ADJ
dem-1080	43	4	background	background	NOUN
dem-1080	43	5	1.1	1.1	NUM
dem-1080	43	6	.	.	PUNCT
dem-1080	44	1	non	non	ADJ
dem-1080	44	2	-	-	ADJ
dem-1080	44	3	trading	trading	ADJ
dem-1080	44	4	problem	problem	NOUN
dem-1080	44	5	and	and	CCONJ
dem-1080	44	6	the	the	DET
dem-1080	44	7	fisher	fisher	NOUN
dem-1080	44	8	’s	’s	PART
dem-1080	44	9	effect	effect	NOUN
dem-1080	44	10	it	it	PRON
dem-1080	44	11	is	be	AUX
dem-1080	44	12	worth	worth	ADJ
dem-1080	44	13	stressing	stress	VERB
dem-1080	44	14	,	,	PUNCT
dem-1080	44	15	that	that	SCONJ
dem-1080	44	16	the	the	DET
dem-1080	44	17	empirical	empirical	ADJ
dem-1080	44	18	market	market	NOUN
dem-1080	44	19	microstructure	microstructure	NOUN
dem-1080	44	20	literature	literature	NOUN
dem-1080	44	21	is	be	AUX
dem-1080	44	22	an	an	DET
dem-1080	44	23	extensive	extensive	ADJ
dem-1080	44	24	one	one	NOUN
dem-1080	44	25	recently	recently	ADV
dem-1080	44	26	.	.	PUNCT
dem-1080	45	1	high	high	ADJ
dem-1080	45	2	-	-	PUNCT
dem-1080	45	3	frequency	frequency	NOUN
dem-1080	45	4	financial	financial	ADJ
dem-1080	45	5	data	datum	NOUN
dem-1080	45	6	are	be	AUX
dem-1080	45	7	important	important	ADJ
dem-1080	45	8	in	in	ADP
dem-1080	45	9	studying	study	VERB
dem-1080	45	10	a	a	DET
dem-1080	45	11	variety	variety	NOUN
dem-1080	45	12	of	of	ADP
dem-1080	45	13	issues	issue	NOUN
dem-1080	45	14	related	relate	VERB
dem-1080	45	15	to	to	ADP
dem-1080	45	16	the	the	DET
dem-1080	45	17	trading	trading	NOUN
dem-1080	45	18	process	process	NOUN
dem-1080	45	19	and	and	CCONJ
dem-1080	45	20	market	market	NOUN
dem-1080	45	21	microstructure	microstructure	NOUN
dem-1080	45	22	(	(	PUNCT
dem-1080	45	23	tsay	tsay	PROPN
dem-1080	45	24	,	,	PUNCT
dem-1080	45	25	2010	2010	NUM
dem-1080	45	26	,	,	PUNCT
dem-1080	45	27	p.	p.	NOUN
dem-1080	45	28	231	231	NUM
dem-1080	45	29	)	)	PUNCT
dem-1080	45	30	.	.	PUNCT
dem-1080	46	1	for	for	ADP
dem-1080	46	2	some	some	DET
dem-1080	46	3	purposes	purpose	NOUN
dem-1080	46	4	,	,	PUNCT
dem-1080	46	5	such	such	ADJ
dem-1080	46	6	aspects	aspect	NOUN
dem-1080	46	7	of	of	ADP
dem-1080	46	8	the	the	DET
dem-1080	46	9	market	market	NOUN
dem-1080	46	10	microstructure	microstructure	NOUN
dem-1080	46	11	as	as	ADP
dem-1080	46	12	non	non	ADJ
dem-1080	46	13	-	-	ADJ
dem-1080	46	14	trading	trading	ADJ
dem-1080	46	15	or	or	CCONJ
dem-1080	46	16	bid	bid	NOUN
dem-1080	46	17	-	-	PUNCT
dem-1080	46	18	ask	ask	NOUN
dem-1080	46	19	spread	spread	VERB
dem-1080	46	20	effects	effect	NOUN
dem-1080	46	21	can	can	AUX
dem-1080	46	22	be	be	AUX
dem-1080	46	23	safely	safely	ADV
dem-1080	46	24	ignored	ignore	VERB
dem-1080	46	25	.	.	PUNCT
dem-1080	47	1	however	however	ADV
dem-1080	47	2	,	,	PUNCT
dem-1080	47	3	for	for	ADP
dem-1080	47	4	other	other	ADJ
dem-1080	47	5	purposes	purpose	NOUN
dem-1080	47	6	,	,	PUNCT
dem-1080	47	7	market	market	NOUN
dem-1080	47	8	microstructure	microstructure	NOUN
dem-1080	47	9	is	be	AUX
dem-1080	47	10	central	central	ADJ
dem-1080	47	11	(	(	PUNCT
dem-1080	47	12	campbell	campbell	PROPN
dem-1080	47	13	et	et	PROPN
dem-1080	47	14	al	al	PROPN
dem-1080	47	15	.	.	PROPN
dem-1080	47	16	,	,	PUNCT
dem-1080	47	17	1997	1997	NUM
dem-1080	47	18	)	)	PUNCT
dem-1080	47	19	.	.	PUNCT
dem-1080	48	1	in	in	ADP
dem-1080	48	2	1980	1980	NUM
dem-1080	48	3	cohen	cohen	PROPN
dem-1080	48	4	et	et	PROPN
dem-1080	48	5	al	al	PROPN
dem-1080	48	6	.	.	PROPN
dem-1080	48	7	point	point	NOUN
dem-1080	48	8	to	to	ADP
dem-1080	48	9	various	various	ADJ
dem-1080	48	10	frictions	friction	NOUN
dem-1080	48	11	in	in	ADP
dem-1080	48	12	the	the	DET
dem-1080	48	13	trading	trading	NOUN
dem-1080	48	14	process	process	NOUN
dem-1080	48	15	that	that	PRON
dem-1080	48	16	can	can	AUX
dem-1080	48	17	lead	lead	VERB
dem-1080	48	18	to	to	ADP
dem-1080	48	19	a	a	DET
dem-1080	48	20	distinction	distinction	NOUN
dem-1080	48	21	between	between	ADP
dem-1080	48	22	“	"	PUNCT
dem-1080	48	23	true	true	ADJ
dem-1080	48	24	”	"	PUNCT
dem-1080	48	25	and	and	CCONJ
dem-1080	48	26	observed	observed	ADJ
dem-1080	48	27	returns	return	NOUN
dem-1080	48	28	.	.	PUNCT
dem-1080	49	1	they	they	PRON
dem-1080	49	2	have	have	AUX
dem-1080	49	3	focused	focus	VERB
dem-1080	49	4	on	on	ADP
dem-1080	49	5	the	the	DET
dem-1080	49	6	fact	fact	NOUN
dem-1080	49	7	that	that	SCONJ
dem-1080	49	8	transaction	transaction	NOUN
dem-1080	49	9	prices	price	NOUN
dem-1080	49	10	differ	differ	VERB
dem-1080	49	11	from	from	ADP
dem-1080	49	12	what	what	PRON
dem-1080	49	13	they	they	PRON
dem-1080	49	14	would	would	AUX
dem-1080	49	15	otherwise	otherwise	ADV
dem-1080	49	16	be	be	AUX
dem-1080	49	17	in	in	ADP
dem-1080	49	18	a	a	DET
dem-1080	49	19	frictionless	frictionless	NOUN
dem-1080	49	20	environment	environment	NOUN
dem-1080	49	21	.	.	PUNCT
dem-1080	50	1	it	it	PRON
dem-1080	50	2	has	have	AUX
dem-1080	50	3	been	be	AUX
dem-1080	50	4	reported	report	VERB
dem-1080	50	5	in	in	ADP
dem-1080	50	6	the	the	DET
dem-1080	50	7	literature	literature	NOUN
dem-1080	50	8	that	that	PRON
dem-1080	50	9	some	some	DET
dem-1080	50	10	empirical	empirical	ADJ
dem-1080	50	11	phenomena	phenomenon	NOUN
dem-1080	50	12	can	can	AUX
dem-1080	50	13	be	be	AUX
dem-1080	50	14	attributed	attribute	VERB
dem-1080	50	15	to	to	ADP
dem-1080	50	16	frictions	friction	NOUN
dem-1080	50	17	in	in	ADP
dem-1080	50	18	the	the	DET
dem-1080	50	19	trading	trading	NOUN
dem-1080	50	20	process	process	NOUN
dem-1080	50	21	(	(	PUNCT
dem-1080	50	22	see	see	VERB
dem-1080	50	23	e.g.	e.g.	ADV
dem-1080	50	24	fisher	fisher	NOUN
dem-1080	50	25	,	,	PUNCT
dem-1080	50	26	1966	1966	NUM
dem-1080	50	27	;	;	PUNCT
dem-1080	50	28	scholes	schole	NOUN
dem-1080	50	29	and	and	CCONJ
dem-1080	50	30	williams	williams	PROPN
dem-1080	50	31	,	,	PUNCT
dem-1080	50	32	1977	1977	NUM
dem-1080	50	33	;	;	PUNCT
dem-1080	50	34	dimson	dimson	NOUN
dem-1080	50	35	,	,	PUNCT
dem-1080	50	36	1979	1979	NUM
dem-1080	50	37	)	)	PUNCT
dem-1080	50	38	,	,	PUNCT
dem-1080	50	39	also	also	ADV
dem-1080	50	40	on	on	ADP
dem-1080	50	41	the	the	DET
dem-1080	50	42	polish	polish	ADJ
dem-1080	50	43	capital	capital	NOUN
dem-1080	50	44	market	market	NOUN
dem-1080	50	45	(	(	PUNCT
dem-1080	50	46	see	see	VERB
dem-1080	50	47	e.g.	e.g.	ADV
dem-1080	50	48	doman	doman	NOUN
dem-1080	50	49	,	,	PUNCT
dem-1080	50	50	doman	doman	PROPN
dem-1080	50	51	,	,	PUNCT
dem-1080	50	52	2004	2004	NUM
dem-1080	50	53	;	;	PUNCT
dem-1080	50	54	doman	doman	PROPN
dem-1080	50	55	,	,	PUNCT
dem-1080	50	56	2010	2010	NUM
dem-1080	50	57	;	;	PUNCT
dem-1080	50	58	brzeszczyński	brzeszczyński	PROPN
dem-1080	50	59	et	et	PROPN
dem-1080	50	60	al	al	PROPN
dem-1080	50	61	.	.	PROPN
dem-1080	50	62	,	,	PUNCT
dem-1080	50	63	2011	2011	NUM
dem-1080	50	64	;	;	PUNCT
dem-1080	50	65	olbryś	olbryś	ADJ
dem-1080	50	66	,	,	PUNCT
dem-1080	50	67	2011b	2011b	NUM
dem-1080	50	68	)	)	PUNCT
dem-1080	50	69	.	.	PUNCT
dem-1080	51	1	it	it	PRON
dem-1080	51	2	is	be	AUX
dem-1080	51	3	worthwhile	worthwhile	ADJ
dem-1080	51	4	to	to	PART
dem-1080	51	5	note	note	VERB
dem-1080	51	6	that	that	SCONJ
dem-1080	51	7	two	two	NUM
dem-1080	51	8	common	common	ADJ
dem-1080	51	9	elements	element	NOUN
dem-1080	51	10	among	among	ADP
dem-1080	51	11	most	most	ADJ
dem-1080	51	12	of	of	ADP
dem-1080	51	13	the	the	DET
dem-1080	51	14	phenomena	phenomenon	NOUN
dem-1080	51	15	are	be	AUX
dem-1080	51	16	evident	evident	ADJ
dem-1080	51	17	,	,	PUNCT
dem-1080	51	18	the	the	DET
dem-1080	51	19	“	"	PUNCT
dem-1080	51	20	interval	interval	NOUN
dem-1080	51	21	effect	effect	NOUN
dem-1080	51	22	”	"	PUNCT
dem-1080	51	23	and	and	CCONJ
dem-1080	51	24	the	the	DET
dem-1080	51	25	impact	impact	NOUN
dem-1080	51	26	of	of	ADP
dem-1080	51	27	a	a	DET
dem-1080	51	28	security	security	NOUN
dem-1080	51	29	’s	’s	PART
dem-1080	51	30	“	"	PUNCT
dem-1080	51	31	thinness	thinness	NOUN
dem-1080	51	32	”	"	PUNCT
dem-1080	51	33	.	.	PUNCT
dem-1080	52	1	the	the	DET
dem-1080	52	2	evidence	evidence	NOUN
dem-1080	52	3	that	that	SCONJ
dem-1080	52	4	daily	daily	ADJ
dem-1080	52	5	market	market	NOUN
dem-1080	52	6	-	-	PUNCT
dem-1080	52	7	index	index	NOUN
dem-1080	52	8	returns	return	NOUN
dem-1080	52	9	exhibit	exhibit	VERB
dem-1080	52	10	a	a	DET
dem-1080	52	11	pronounced	pronounce	VERB
dem-1080	52	12	positive	positive	ADJ
dem-1080	52	13	first	first	ADJ
dem-1080	52	14	-	-	PUNCT
dem-1080	52	15	order	order	NOUN
dem-1080	52	16	autocorrelation	autocorrelation	NOUN
dem-1080	52	17	has	have	AUX
dem-1080	52	18	been	be	AUX
dem-1080	52	19	called	call	VERB
dem-1080	52	20	the	the	DET
dem-1080	52	21	fisher	fisher	NOUN
dem-1080	52	22	’s	’s	PART
dem-1080	52	23	effect	effect	NOUN
dem-1080	52	24	since	since	SCONJ
dem-1080	52	25	lawrence	lawrence	PROPN
dem-1080	52	26	fisher	fisher	PROPN
dem-1080	52	27	in	in	ADP
dem-1080	52	28	1966	1966	NUM
dem-1080	52	29	hypothesized	hypothesize	VERB
dem-1080	52	30	its	its	PRON
dem-1080	52	31	probable	probable	ADJ
dem-1080	52	32	cause	cause	NOUN
dem-1080	52	33	.	.	PUNCT
dem-1080	53	1	fisher	fisher	PROPN
dem-1080	53	2	suggested	suggest	VERB
dem-1080	53	3	it	it	PRON
dem-1080	53	4	was	be	AUX
dem-1080	53	5	caused	cause	VERB
dem-1080	53	6	by	by	ADP
dem-1080	53	7	a	a	DET
dem-1080	53	8	non	non	ADJ
dem-1080	53	9	-	-	NOUN
dem-1080	53	10	trading	trading	NOUN
dem-1080	53	11	of	of	ADP
dem-1080	53	12	the	the	DET
dem-1080	53	13	component	component	NOUN
dem-1080	53	14	securities	security	NOUN
dem-1080	53	15	.	.	PUNCT
dem-1080	54	1	the	the	DET
dem-1080	54	2	observed	observe	VERB
dem-1080	54	3	correlation	correlation	NOUN
dem-1080	54	4	is	be	AUX
dem-1080	54	5	higher	high	ADJ
dem-1080	54	6	in	in	ADP
dem-1080	54	7	those	those	DET
dem-1080	54	8	indexes	index	NOUN
dem-1080	54	9	that	that	PRON
dem-1080	54	10	give	give	VERB
dem-1080	54	11	greater	great	ADJ
dem-1080	54	12	weight	weight	NOUN
dem-1080	54	13	to	to	ADP
dem-1080	54	14	the	the	DET
dem-1080	54	15	securities	security	NOUN
dem-1080	54	16	of	of	ADP
dem-1080	54	17	smaller	small	ADJ
dem-1080	54	18	firms	firm	NOUN
dem-1080	54	19	.	.	PUNCT
dem-1080	55	1	to	to	PART
dem-1080	55	2	detect	detect	VERB
dem-1080	55	3	for	for	ADP
dem-1080	55	4	the	the	DET
dem-1080	55	5	fisher	fisher	PROPN
dem-1080	55	6	’s	’s	PART
dem-1080	55	7	effect	effect	NOUN
dem-1080	55	8	in	in	ADP
dem-1080	55	9	the	the	DET
dem-1080	55	10	market	market	NOUN
dem-1080	55	11	-	-	PUNCT
dem-1080	55	12	index	index	NOUN
dem-1080	55	13	returns	return	NOUN
dem-1080	55	14	,	,	PUNCT
dem-1080	55	15	partial	partial	ADJ
dem-1080	55	16	autocorrelations	autocorrelation	NOUN
dem-1080	55	17	functions	function	NOUN
dem-1080	55	18	(	(	PUNCT
dem-1080	55	19	pacf	pacf	NOUN
dem-1080	55	20	)	)	PUNCT
dem-1080	55	21	can	can	AUX
dem-1080	55	22	be	be	AUX
dem-1080	55	23	calculated	calculate	VERB
dem-1080	55	24	.	.	PUNCT
dem-1080	56	1	to	to	PART
dem-1080	56	2	calculate	calculate	VERB
dem-1080	56	3	pacf	pacf	NOUN
dem-1080	56	4	,	,	PUNCT
dem-1080	56	5	first	first	ADV
dem-1080	56	6	it	it	PRON
dem-1080	56	7	should	should	AUX
dem-1080	56	8	be	be	AUX
dem-1080	56	9	determined	determine	VERB
dem-1080	56	10	(	(	PUNCT
dem-1080	56	11	based	base	VERB
dem-1080	56	12	on	on	ADP
dem-1080	56	13	the	the	DET
dem-1080	56	14	adf	adf	PROPN
dem-1080	56	15	test	test	NOUN
dem-1080	56	16	)	)	PUNCT
dem-1080	56	17	that	that	SCONJ
dem-1080	56	18	the	the	DET
dem-1080	56	19	analyzed	analyze	VERB
dem-1080	56	20	index	index	NOUN
dem-1080	56	21	series	series	NOUN
dem-1080	56	22	are	be	AUX
dem-1080	56	23	stationary	stationary	ADJ
dem-1080	56	24	.	.	PUNCT
dem-1080	57	1	in	in	ADP
dem-1080	57	2	the	the	DET
dem-1080	57	3	next	next	ADJ
dem-1080	57	4	step	step	NOUN
dem-1080	57	5	partial	partial	ADJ
dem-1080	57	6	autocorrelations	autocorrelation	NOUN
dem-1080	57	7	functions	function	NOUN
dem-1080	57	8	for	for	ADP
dem-1080	57	9	individual	individual	ADJ
dem-1080	57	10	stationary	stationary	ADJ
dem-1080	57	11	processes	process	NOUN
dem-1080	57	12	can	can	AUX
dem-1080	57	13	be	be	AUX
dem-1080	57	14	calculated	calculate	VERB
dem-1080	57	15	and	and	CCONJ
dem-1080	57	16	the	the	DET
dem-1080	57	17	significance	significance	NOUN
dem-1080	57	18	of	of	ADP
dem-1080	57	19	the	the	DET
dem-1080	57	20	first	first	ADJ
dem-1080	57	21	-	-	PUNCT
dem-1080	57	22	order	order	NOUN
dem-1080	57	23	daily	daily	ADJ
dem-1080	57	24	serial	serial	ADJ
dem-1080	57	25	correlation	correlation	NOUN
dem-1080	57	26	coefficients	coefficient	VERB
dem-1080	57	27	1	1	NUM
dem-1080	57	28	can	can	AUX
dem-1080	57	29	be	be	AUX
dem-1080	57	30	tested	test	VERB
dem-1080	57	31	,	,	PUNCT
dem-1080	57	32	using	use	VERB
dem-1080	57	33	the	the	DET
dem-1080	57	34	quenouille	quenouille	NOUN
dem-1080	57	35	’s	’s	PART
dem-1080	57	36	test	test	NOUN
dem-1080	57	37	(	(	PUNCT
dem-1080	57	38	kufel	kufel	NOUN
dem-1080	57	39	,	,	PUNCT
dem-1080	57	40	2009	2009	NUM
dem-1080	57	41	)	)	PUNCT
dem-1080	57	42	.	.	PUNCT
dem-1080	58	1	the	the	DET
dem-1080	58	2	evaluation	evaluation	NOUN
dem-1080	58	3	of	of	ADP
dem-1080	58	4	first	first	ADJ
dem-1080	58	5	-	-	PUNCT
dem-1080	58	6	order	order	NOUN
dem-1080	58	7	serial	serial	ADJ
dem-1080	58	8	correlation	correlation	NOUN
dem-1080	58	9	is	be	AUX
dem-1080	58	10	carried	carry	VERB
dem-1080	58	11	out	out	ADP
dem-1080	58	12	by	by	ADP
dem-1080	58	13	testing	test	VERB
dem-1080	58	14	the	the	DET
dem-1080	58	15	null	null	ADJ
dem-1080	58	16	hypothesis	hypothesis	NOUN
dem-1080	58	17	:	:	PUNCT
dem-1080	58	18	joanna	joanna	PROPN
dem-1080	58	19	olbryś	olbryś	ADJ
dem-1080	58	20	188	188	NUM
dem-1080	58	21	0	0	NUM
dem-1080	58	22	1	1	NUM
dem-1080	58	23	:	:	PUNCT
dem-1080	58	24	0h	0h	X
dem-1080	58	25			ADP
dem-1080	58	26			PROPN
dem-1080	58	27	(	(	PUNCT
dem-1080	58	28	1	1	NUM
dem-1080	58	29	)	)	PUNCT
dem-1080	58	30	if	if	SCONJ
dem-1080	58	31	the	the	DET
dem-1080	58	32	estimate	estimate	NOUN
dem-1080	58	33	1̂	1̂	NUM
dem-1080	58	34	satisfies	satisfy	VERB
dem-1080	58	35	the	the	DET
dem-1080	58	36	inequality	inequality	NOUN
dem-1080	58	37	1	1	NUM
dem-1080	58	38	1.96	1.96	NUM
dem-1080	58	39	ˆ	ˆ	NOUN
dem-1080	58	40	t	t	NOUN
dem-1080	58	41			ADP
dem-1080	58	42			NOUN
dem-1080	58	43	,	,	PUNCT
dem-1080	58	44	then	then	ADV
dem-1080	58	45	we	we	PRON
dem-1080	58	46	have	have	VERB
dem-1080	58	47	no	no	DET
dem-1080	58	48	reason	reason	NOUN
dem-1080	58	49	to	to	PART
dem-1080	58	50	reject	reject	VERB
dem-1080	58	51	the	the	DET
dem-1080	58	52	null	null	ADJ
dem-1080	58	53	hypothesis	hypothesis	NOUN
dem-1080	58	54	(	(	PUNCT
dem-1080	58	55	1	1	NUM
dem-1080	58	56	)	)	PUNCT
dem-1080	58	57	.	.	PUNCT
dem-1080	59	1	the	the	DET
dem-1080	59	2	non	non	ADJ
dem-1080	59	3	-	-	ADJ
dem-1080	59	4	trading	trading	ADJ
dem-1080	59	5	effect	effect	NOUN
dem-1080	59	6	induces	induce	VERB
dem-1080	59	7	potentially	potentially	ADV
dem-1080	59	8	serious	serious	ADJ
dem-1080	59	9	biases	bias	NOUN
dem-1080	59	10	in	in	ADP
dem-1080	59	11	the	the	DET
dem-1080	59	12	moments	moment	NOUN
dem-1080	59	13	and	and	CCONJ
dem-1080	59	14	co	co	NOUN
dem-1080	59	15	-	-	NOUN
dem-1080	59	16	moments	moment	NOUN
dem-1080	59	17	of	of	ADP
dem-1080	59	18	asset	asset	NOUN
dem-1080	59	19	returns	return	NOUN
dem-1080	59	20	such	such	ADJ
dem-1080	59	21	as	as	ADP
dem-1080	59	22	their	their	PRON
dem-1080	59	23	means	mean	NOUN
dem-1080	59	24	,	,	PUNCT
dem-1080	59	25	variances	variance	NOUN
dem-1080	59	26	,	,	PUNCT
dem-1080	59	27	covariances	covariance	NOUN
dem-1080	59	28	,	,	PUNCT
dem-1080	59	29	betas	beta	NOUN
dem-1080	59	30	,	,	PUNCT
dem-1080	59	31	and	and	CCONJ
dem-1080	59	32	autocorrelation	autocorrelation	NOUN
dem-1080	59	33	and	and	CCONJ
dem-1080	59	34	cross	cross	ADJ
dem-1080	59	35	-	-	NOUN
dem-1080	59	36	autocorrelation	autocorrelation	ADJ
dem-1080	59	37	coefficients	coefficient	NOUN
dem-1080	59	38	(	(	PUNCT
dem-1080	59	39	campbell	campbell	PROPN
dem-1080	59	40	et	et	PROPN
dem-1080	59	41	al	al	PROPN
dem-1080	59	42	.	.	PROPN
dem-1080	59	43	,	,	PUNCT
dem-1080	59	44	1997	1997	NUM
dem-1080	59	45	,	,	PUNCT
dem-1080	59	46	p.	p.	NOUN
dem-1080	59	47	84	84	NUM
dem-1080	59	48	)	)	PUNCT
dem-1080	59	49	.	.	PUNCT
dem-1080	60	1	for	for	ADP
dem-1080	60	2	this	this	DET
dem-1080	60	3	reason	reason	NOUN
dem-1080	60	4	,	,	PUNCT
dem-1080	60	5	busse	busse	NOUN
dem-1080	60	6	(	(	PUNCT
dem-1080	60	7	1999	1999	NUM
dem-1080	60	8	)	)	PUNCT
dem-1080	60	9	proposed	propose	VERB
dem-1080	60	10	lagged	lag	VERB
dem-1080	60	11	values	value	NOUN
dem-1080	60	12	of	of	ADP
dem-1080	60	13	the	the	DET
dem-1080	60	14	market	market	NOUN
dem-1080	60	15	factor	factor	NOUN
dem-1080	60	16	as	as	ADP
dem-1080	60	17	an	an	DET
dem-1080	60	18	additional	additional	ADJ
dem-1080	60	19	independent	independent	ADJ
dem-1080	60	20	variable	variable	NOUN
dem-1080	60	21	in	in	ADP
dem-1080	60	22	the	the	DET
dem-1080	60	23	regressions	regression	NOUN
dem-1080	60	24	of	of	ADP
dem-1080	60	25	markettiming	markettime	VERB
dem-1080	60	26	models	model	NOUN
dem-1080	60	27	using	use	VERB
dem-1080	60	28	dimson	dimson	NOUN
dem-1080	60	29	’s	’s	PART
dem-1080	60	30	(	(	PUNCT
dem-1080	60	31	1979	1979	NUM
dem-1080	60	32	)	)	PUNCT
dem-1080	60	33	correction	correction	NOUN
dem-1080	60	34	.	.	PUNCT
dem-1080	61	1	we	we	PRON
dem-1080	61	2	emphasize	emphasize	VERB
dem-1080	61	3	that	that	SCONJ
dem-1080	61	4	the	the	DET
dem-1080	61	5	polish	polish	ADJ
dem-1080	61	6	market	market	NOUN
dem-1080	61	7	is	be	AUX
dem-1080	61	8	an	an	DET
dem-1080	61	9	emerging	emerge	VERB
dem-1080	61	10	market	market	NOUN
dem-1080	61	11	and	and	CCONJ
dem-1080	61	12	it	it	PRON
dem-1080	61	13	can	can	AUX
dem-1080	61	14	be	be	AUX
dem-1080	61	15	expected	expect	VERB
dem-1080	61	16	that	that	SCONJ
dem-1080	61	17	non	non	ADJ
dem-1080	61	18	-	-	ADJ
dem-1080	61	19	trading	trading	ADJ
dem-1080	61	20	problem	problem	NOUN
dem-1080	61	21	should	should	AUX
dem-1080	61	22	be	be	AUX
dem-1080	61	23	more	more	ADV
dem-1080	61	24	visible	visible	ADJ
dem-1080	61	25	than	than	ADP
dem-1080	61	26	in	in	ADP
dem-1080	61	27	other	other	ADJ
dem-1080	61	28	,	,	PUNCT
dem-1080	61	29	developed	develop	VERB
dem-1080	61	30	markets	market	NOUN
dem-1080	61	31	.	.	PUNCT
dem-1080	62	1	1.2	1.2	NUM
dem-1080	62	2	.	.	PUNCT
dem-1080	62	3	classical	classical	ADJ
dem-1080	62	4	market	market	NOUN
dem-1080	62	5	-	-	PUNCT
dem-1080	62	6	timing	timing	NOUN
dem-1080	62	7	models	model	NOUN
dem-1080	62	8	with	with	ADP
dem-1080	62	9	lagged	lag	VERB
dem-1080	62	10	market	market	NOUN
dem-1080	62	11	variable	variable	NOUN
dem-1080	62	12	the	the	DET
dem-1080	62	13	classical	classical	ADJ
dem-1080	62	14	parametric	parametric	ADJ
dem-1080	62	15	treynor	treynor	NOUN
dem-1080	62	16	–	–	PUNCT
dem-1080	62	17	mazuy	mazuy	VERB
dem-1080	62	18	market	market	NOUN
dem-1080	62	19	-	-	PUNCT
dem-1080	62	20	timing	timing	NOUN
dem-1080	62	21	model	model	NOUN
dem-1080	62	22	with	with	ADP
dem-1080	62	23	lagged	lag	VERB
dem-1080	62	24	values	value	NOUN
dem-1080	62	25	of	of	ADP
dem-1080	62	26	the	the	DET
dem-1080	62	27	market	market	NOUN
dem-1080	62	28	factor	factor	NOUN
dem-1080	62	29	as	as	SCONJ
dem-1080	62	30	additional	additional	ADJ
dem-1080	62	31	explanatory	explanatory	ADJ
dem-1080	62	32	variable	variable	NOUN
dem-1080	62	33	can	can	AUX
dem-1080	62	34	be	be	AUX
dem-1080	62	35	expressed	express	VERB
dem-1080	62	36	as	as	ADP
dem-1080	62	37	:	:	PUNCT
dem-1080	62	38	2	2	NUM
dem-1080	62	39	,	,	PUNCT
dem-1080	62	40	1	1	NUM
dem-1080	62	41	,	,	PUNCT
dem-1080	62	42	2	2	NUM
dem-1080	62	43	,	,	PUNCT
dem-1080	62	44	1	1	NUM
dem-1080	62	45	,	,	PUNCT
dem-1080	62	46	,	,	PUNCT
dem-1080	62	47	(	(	PUNCT
dem-1080	62	48	)	)	PUNCT
dem-1080	62	49	,	,	PUNCT
dem-1080	62	50	p	p	PROPN
dem-1080	62	51	t	t	PROPN
dem-1080	63	1	p	p	X
dem-1080	63	2	p	p	X
dem-1080	63	3	m	m	PROPN
dem-1080	63	4	t	t	NOUN
dem-1080	63	5	p	p	X
dem-1080	63	6	m	m	PROPN
dem-1080	63	7	t	t	NOUN
dem-1080	63	8	p	p	X
dem-1080	63	9	m	m	PROPN
dem-1080	63	10	t	t	NOUN
dem-1080	63	11	p	p	X
dem-1080	63	12	tr	tr	NOUN
dem-1080	63	13	r	r	NOUN
dem-1080	63	14	r	r	NOUN
dem-1080	63	15	r	r	NOUN
dem-1080	63	16			PROPN
dem-1080	63	17			PROPN
dem-1080	63	18			NUM
dem-1080	63	19			PRON
dem-1080	63	20			VERB
dem-1080	63	21			PROPN
dem-1080	63	22			ADJ
dem-1080	63	23			NUM
dem-1080	63	24			ADJ
dem-1080	63	25			NUM
dem-1080	63	26			X
dem-1080	63	27	(	(	PUNCT
dem-1080	63	28	2	2	X
dem-1080	63	29	)	)	PUNCT
dem-1080	63	30	where	where	SCONJ
dem-1080	63	31	tfr	tfr	PROPN
dem-1080	63	32	,	,	PUNCT
dem-1080	63	33	is	be	AUX
dem-1080	63	34	the	the	DET
dem-1080	63	35	one	one	NUM
dem-1080	63	36	-	-	PUNCT
dem-1080	63	37	period	period	NOUN
dem-1080	63	38	return	return	NOUN
dem-1080	63	39	on	on	ADP
dem-1080	63	40	riskless	riskless	NOUN
dem-1080	63	41	securities	security	NOUN
dem-1080	63	42	,	,	PUNCT
dem-1080	63	43	,	,	PUNCT
dem-1080	63	44	,	,	PUNCT
dem-1080	63	45	,	,	PUNCT
dem-1080	64	1	p	p	PROPN
dem-1080	64	2	t	t	PROPN
dem-1080	64	3	p	p	X
dem-1080	64	4	t	t	X
dem-1080	64	5	f	f	PROPN
dem-1080	64	6	tr	tr	NOUN
dem-1080	64	7	r	r	NOUN
dem-1080	64	8	r	r	NOUN
dem-1080	64	9			NOUN
dem-1080	64	10	is	be	AUX
dem-1080	64	11	the	the	DET
dem-1080	64	12	excess	excess	ADJ
dem-1080	64	13	return	return	NOUN
dem-1080	64	14	on	on	ADP
dem-1080	64	15	portfolio	portfolio	NOUN
dem-1080	64	16	p	p	NOUN
dem-1080	64	17	in	in	ADP
dem-1080	64	18	the	the	DET
dem-1080	64	19	period	period	NOUN
dem-1080	64	20	t	t	PROPN
dem-1080	64	21	,	,	PUNCT
dem-1080	64	22	,	,	PUNCT
dem-1080	64	23	,	,	PUNCT
dem-1080	64	24	,	,	PUNCT
dem-1080	64	25	m	m	VERB
dem-1080	64	26	t	t	NOUN
dem-1080	64	27	m	m	PROPN
dem-1080	64	28	t	t	PROPN
dem-1080	64	29	f	f	NOUN
dem-1080	64	30	tr	tr	NOUN
dem-1080	64	31	r	r	NOUN
dem-1080	64	32	r	r	NOUN
dem-1080	64	33			NOUN
dem-1080	64	34	is	be	AUX
dem-1080	64	35	the	the	DET
dem-1080	64	36	excess	excess	ADJ
dem-1080	64	37	return	return	NOUN
dem-1080	64	38	on	on	ADP
dem-1080	64	39	portfolio	portfolio	NOUN
dem-1080	64	40	m	m	PROPN
dem-1080	64	41	in	in	ADP
dem-1080	64	42	the	the	DET
dem-1080	64	43	period	period	NOUN
dem-1080	64	44	t	t	PROPN
dem-1080	64	45	,	,	PUNCT
dem-1080	64	46	1	1	NUM
dem-1080	64	47	,	,	PUNCT
dem-1080	64	48	tmr	tmr	NOUN
dem-1080	64	49	is	be	AUX
dem-1080	64	50	the	the	DET
dem-1080	64	51	lagged	lag	VERB
dem-1080	64	52	excess	excess	ADJ
dem-1080	64	53	return	return	NOUN
dem-1080	64	54	on	on	ADP
dem-1080	64	55	portfolio	portfolio	NOUN
dem-1080	64	56	m	m	PROPN
dem-1080	64	57	in	in	ADP
dem-1080	64	58	the	the	DET
dem-1080	64	59	period	period	NOUN
dem-1080	64	60	t	t	NOUN
dem-1080	64	61	,	,	PUNCT
dem-1080	64	62	p	p	NOUN
dem-1080	64	63	measures	measure	VERB
dem-1080	64	64	the	the	DET
dem-1080	64	65	selectivity	selectivity	NOUN
dem-1080	64	66	skills	skill	NOUN
dem-1080	64	67	of	of	ADP
dem-1080	64	68	the	the	DET
dem-1080	64	69	manager	manager	NOUN
dem-1080	64	70	(	(	PUNCT
dem-1080	64	71	jensen	jensen	PROPN
dem-1080	64	72	,	,	PUNCT
dem-1080	64	73	1968	1968	NUM
dem-1080	64	74	)	)	PUNCT
dem-1080	64	75	,	,	PUNCT
dem-1080	64	76	p1	p1	NOUN
dem-1080	64	77	is	be	AUX
dem-1080	64	78	the	the	DET
dem-1080	64	79	systematic	systematic	ADJ
dem-1080	64	80	risk	risk	NOUN
dem-1080	64	81	measure	measure	NOUN
dem-1080	64	82	of	of	ADP
dem-1080	64	83	portfolio	portfolio	NOUN
dem-1080	64	84	p	p	NOUN
dem-1080	64	85	to	to	ADP
dem-1080	64	86	changes	change	NOUN
dem-1080	64	87	in	in	ADP
dem-1080	64	88	the	the	DET
dem-1080	64	89	market	market	NOUN
dem-1080	64	90	factor	factor	NOUN
dem-1080	64	91	returns	return	NOUN
dem-1080	64	92	,	,	PUNCT
dem-1080	64	93	2p	2p	NUM
dem-1080	64	94	is	be	AUX
dem-1080	64	95	the	the	DET
dem-1080	64	96	systematic	systematic	ADJ
dem-1080	64	97	risk	risk	NOUN
dem-1080	64	98	measure	measure	NOUN
dem-1080	64	99	of	of	ADP
dem-1080	64	100	portfolio	portfolio	NOUN
dem-1080	64	101	p	p	NOUN
dem-1080	64	102	to	to	ADP
dem-1080	64	103	changes	change	NOUN
dem-1080	64	104	in	in	ADP
dem-1080	64	105	the	the	DET
dem-1080	64	106	lagged	lag	VERB
dem-1080	64	107	market	market	NOUN
dem-1080	64	108	factor	factor	NOUN
dem-1080	64	109	returns	return	NOUN
dem-1080	64	110	,	,	PUNCT
dem-1080	64	111	p	p	VERB
dem-1080	64	112	measures	measure	VERB
dem-1080	64	113	the	the	DET
dem-1080	64	114	market	market	NOUN
dem-1080	64	115	-	-	PUNCT
dem-1080	64	116	timing	timing	NOUN
dem-1080	64	117	skills	skill	NOUN
dem-1080	64	118	of	of	ADP
dem-1080	64	119	the	the	DET
dem-1080	64	120	manager	manager	NOUN
dem-1080	64	121	of	of	ADP
dem-1080	64	122	portfolio	portfolio	NOUN
dem-1080	64	123	p	p	PROPN
dem-1080	64	124	(	(	PUNCT
dem-1080	64	125	the	the	DET
dem-1080	64	126	t	t	PROPN
dem-1080	64	127	-	-	PUNCT
dem-1080	64	128	m	m	PROPN
dem-1080	64	129	coefficient	coefficient	NOUN
dem-1080	64	130	)	)	PUNCT
dem-1080	64	131	,	,	PUNCT
dem-1080	64	132	and	and	CCONJ
dem-1080	64	133	tp,	tp,	NOUN
dem-1080	64	134	is	be	AUX
dem-1080	64	135	a	a	DET
dem-1080	64	136	residual	residual	ADJ
dem-1080	64	137	term	term	NOUN
dem-1080	64	138	,	,	PUNCT
dem-1080	64	139	with	with	ADP
dem-1080	64	140	the	the	DET
dem-1080	64	141	following	follow	VERB
dem-1080	64	142	standard	standard	ADJ
dem-1080	64	143	capm	capm	PROPN
dem-1080	64	144	conditions	condition	NOUN
dem-1080	64	145	:	:	PUNCT
dem-1080	64	146	,	,	PUNCT
dem-1080	64	147	(	(	PUNCT
dem-1080	64	148	)	)	PUNCT
dem-1080	64	149	0p	0p	NOUN
dem-1080	64	150	te	te	ADP
dem-1080	64	151			PROPN
dem-1080	64	152			NUM
dem-1080	64	153	,	,	PUNCT
dem-1080	64	154	,	,	PUNCT
dem-1080	64	155	,	,	PUNCT
dem-1080	64	156	1	1	NUM
dem-1080	64	157	(	(	PUNCT
dem-1080	64	158	)	)	PUNCT
dem-1080	64	159	0p	0p	PROPN
dem-1080	64	160	t	t	PROPN
dem-1080	64	161	p	p	X
dem-1080	64	162	te	te	ADP
dem-1080	64	163			PROPN
dem-1080	64	164			PROPN
dem-1080	64	165			NOUN
dem-1080	64	166			PRON
dem-1080	64	167	.	.	PUNCT
dem-1080	65	1	in	in	ADP
dem-1080	65	2	a	a	DET
dem-1080	65	3	way	way	NOUN
dem-1080	65	4	analogous	analogous	ADJ
dem-1080	65	5	to	to	ADP
dem-1080	65	6	(	(	PUNCT
dem-1080	65	7	2	2	NUM
dem-1080	65	8	)	)	PUNCT
dem-1080	65	9	,	,	PUNCT
dem-1080	65	10	the	the	DET
dem-1080	65	11	classical	classical	ADJ
dem-1080	65	12	parametric	parametric	ADJ
dem-1080	65	13	henriksson	henriksson	PROPN
dem-1080	65	14	merton	merton	PROPN
dem-1080	65	15	model	model	NOUN
dem-1080	65	16	with	with	ADP
dem-1080	65	17	lagged	lag	VERB
dem-1080	65	18	values	value	NOUN
dem-1080	65	19	of	of	ADP
dem-1080	65	20	the	the	DET
dem-1080	65	21	market	market	NOUN
dem-1080	65	22	factor	factor	NOUN
dem-1080	65	23	as	as	ADP
dem-1080	65	24	additional	additional	ADJ
dem-1080	65	25	explanatory	explanatory	ADJ
dem-1080	65	26	variable	variable	NOUN
dem-1080	65	27	can	can	AUX
dem-1080	65	28	be	be	AUX
dem-1080	65	29	expressed	express	VERB
dem-1080	65	30	as	as	ADP
dem-1080	65	31	:	:	PUNCT
dem-1080	65	32	,	,	PUNCT
dem-1080	65	33	1	1	NUM
dem-1080	65	34	,	,	PUNCT
dem-1080	65	35	2	2	NUM
dem-1080	65	36	,	,	PUNCT
dem-1080	65	37	1	1	NUM
dem-1080	65	38	,	,	PUNCT
dem-1080	65	39	,	,	PUNCT
dem-1080	65	40	,	,	PUNCT
dem-1080	65	41	p	p	PROPN
dem-1080	65	42	t	t	PROPN
dem-1080	65	43	p	p	X
dem-1080	65	44	p	p	X
dem-1080	65	45	m	m	PROPN
dem-1080	65	46	t	t	NOUN
dem-1080	65	47	p	p	X
dem-1080	65	48	m	m	PROPN
dem-1080	65	49	t	t	NOUN
dem-1080	65	50	p	p	X
dem-1080	65	51	m	m	PROPN
dem-1080	65	52	t	t	NOUN
dem-1080	65	53	p	p	X
dem-1080	65	54	tr	tr	NOUN
dem-1080	65	55	r	r	NOUN
dem-1080	65	56	r	r	NOUN
dem-1080	65	57	y	y	PROPN
dem-1080	65	58			PROPN
dem-1080	65	59			PROPN
dem-1080	65	60			NUM
dem-1080	65	61			PRON
dem-1080	65	62			VERB
dem-1080	65	63			PROPN
dem-1080	65	64			ADJ
dem-1080	65	65			NUM
dem-1080	65	66			ADJ
dem-1080	65	67			NUM
dem-1080	65	68			X
dem-1080	65	69	(	(	PUNCT
dem-1080	65	70	3	3	X
dem-1080	65	71	)	)	PUNCT
dem-1080	65	72	where	where	SCONJ
dem-1080	65	73	tpr	tpr	PROPN
dem-1080	65	74	,	,	PUNCT
dem-1080	65	75	,	,	PUNCT
dem-1080	65	76	tmr	tmr	PROPN
dem-1080	65	77	,	,	PUNCT
dem-1080	65	78	,	,	PUNCT
dem-1080	65	79	1	1	NUM
dem-1080	65	80	,	,	PUNCT
dem-1080	65	81	tmr	tmr	NOUN
dem-1080	65	82	,	,	PUNCT
dem-1080	65	83	p	p	NOUN
dem-1080	65	84	,	,	PUNCT
dem-1080	65	85	1p	1p	NUM
dem-1080	65	86	,	,	PUNCT
dem-1080	65	87	2p	2p	NUM
dem-1080	65	88	,	,	PUNCT
dem-1080	65	89	,	,	PUNCT
dem-1080	65	90	p	p	PROPN
dem-1080	65	91	t	t	PROPN
dem-1080	65	92	are	be	AUX
dem-1080	65	93	as	as	ADP
dem-1080	65	94	in	in	ADP
dem-1080	65	95	equation	equation	NOUN
dem-1080	65	96	(	(	PUNCT
dem-1080	65	97	2	2	NUM
dem-1080	65	98	)	)	PUNCT
dem-1080	65	99	,	,	PUNCT
dem-1080	65	100	p	p	VERB
dem-1080	65	101	measures	measure	VERB
dem-1080	65	102	the	the	DET
dem-1080	65	103	market	market	NOUN
dem-1080	65	104	-	-	PUNCT
dem-1080	65	105	timing	timing	NOUN
dem-1080	65	106	skills	skill	NOUN
dem-1080	65	107	of	of	ADP
dem-1080	65	108	the	the	DET
dem-1080	65	109	manager	manager	NOUN
dem-1080	65	110	of	of	ADP
dem-1080	65	111	portfolio	portfolio	NOUN
dem-1080	65	112	p	p	PROPN
dem-1080	65	113	(	(	PUNCT
dem-1080	65	114	the	the	DET
dem-1080	65	115	h	h	NOUN
dem-1080	65	116	-	-	PUNCT
dem-1080	65	117	m	m	NOUN
dem-1080	65	118	coefficient	coefficient	NOUN
dem-1080	65	119	)	)	PUNCT
dem-1080	65	120	,	,	PUNCT
dem-1080	65	121	and	and	CCONJ
dem-1080	65	122	,	,	PUNCT
dem-1080	65	123	,	,	PUNCT
dem-1080	65	124	max{0	max{0	PROPN
dem-1080	65	125	,	,	PUNCT
dem-1080	65	126	}	}	PUNCT
dem-1080	65	127	m	m	VERB
dem-1080	65	128	t	t	NOUN
dem-1080	65	129	m	m	VERB
dem-1080	65	130	ty	ty	INTJ
dem-1080	65	131	r	r	NOUN
dem-1080	65	132			NOUN
dem-1080	65	133	.	.	PUNCT
dem-1080	66	1	arch	arch	ADJ
dem-1080	66	2	effect	effect	NOUN
dem-1080	66	3	in	in	ADP
dem-1080	66	4	classical	classical	ADJ
dem-1080	66	5	market	market	NOUN
dem-1080	66	6	-	-	PUNCT
dem-1080	66	7	timing	timing	NOUN
dem-1080	66	8	models	model	NOUN
dem-1080	66	9	with	with	ADP
dem-1080	66	10	lagged	lag	VERB
dem-1080	66	11	market	market	NOUN
dem-1080	66	12	variable	variable	NOUN
dem-1080	66	13	…	…	PUNCT
dem-1080	66	14	189	189	NUM
dem-1080	66	15	if	if	SCONJ
dem-1080	66	16	the	the	DET
dem-1080	66	17	portfolio	portfolio	NOUN
dem-1080	66	18	manager	manager	NOUN
dem-1080	66	19	has	have	VERB
dem-1080	66	20	the	the	DET
dem-1080	66	21	ability	ability	NOUN
dem-1080	66	22	to	to	PART
dem-1080	66	23	forecast	forecast	VERB
dem-1080	66	24	security	security	NOUN
dem-1080	66	25	prices	price	NOUN
dem-1080	66	26	,	,	PUNCT
dem-1080	66	27	the	the	DET
dem-1080	66	28	intercept	intercept	NOUN
dem-1080	66	29	p	p	NOUN
dem-1080	66	30	in	in	ADP
dem-1080	66	31	equations	equation	NOUN
dem-1080	66	32	(	(	PUNCT
dem-1080	66	33	2)–(3	2)–(3	NUM
dem-1080	66	34	)	)	PUNCT
dem-1080	66	35	will	will	AUX
dem-1080	66	36	be	be	AUX
dem-1080	66	37	positive	positive	ADJ
dem-1080	66	38	(	(	PUNCT
dem-1080	66	39	jensen	jensen	PROPN
dem-1080	66	40	,	,	PUNCT
dem-1080	66	41	1968	1968	NUM
dem-1080	66	42	)	)	PUNCT
dem-1080	66	43	.	.	PUNCT
dem-1080	67	1	indeed	indeed	ADV
dem-1080	67	2	,	,	PUNCT
dem-1080	67	3	it	it	PRON
dem-1080	67	4	represents	represent	VERB
dem-1080	67	5	the	the	DET
dem-1080	67	6	average	average	ADJ
dem-1080	67	7	incremental	incremental	ADJ
dem-1080	67	8	rate	rate	NOUN
dem-1080	67	9	of	of	ADP
dem-1080	67	10	return	return	NOUN
dem-1080	67	11	on	on	ADP
dem-1080	67	12	the	the	DET
dem-1080	67	13	portfolio	portfolio	NOUN
dem-1080	67	14	per	per	ADP
dem-1080	67	15	unit	unit	NOUN
dem-1080	67	16	time	time	NOUN
dem-1080	67	17	which	which	PRON
dem-1080	67	18	is	be	AUX
dem-1080	67	19	due	due	ADJ
dem-1080	67	20	solely	solely	ADV
dem-1080	67	21	to	to	ADP
dem-1080	67	22	the	the	DET
dem-1080	67	23	manager	manager	NOUN
dem-1080	67	24	’s	’s	PART
dem-1080	67	25	ability	ability	NOUN
dem-1080	67	26	to	to	PART
dem-1080	67	27	forecast	forecast	VERB
dem-1080	67	28	future	future	ADJ
dem-1080	67	29	security	security	NOUN
dem-1080	67	30	prices	price	NOUN
dem-1080	67	31	.	.	PUNCT
dem-1080	68	1	in	in	ADP
dem-1080	68	2	this	this	DET
dem-1080	68	3	way	way	NOUN
dem-1080	68	4	,	,	PUNCT
dem-1080	68	5	ˆp	ˆp	NOUN
dem-1080	68	6	measures	measure	VERB
dem-1080	68	7	the	the	DET
dem-1080	68	8	contribution	contribution	NOUN
dem-1080	68	9	of	of	ADP
dem-1080	68	10	security	security	NOUN
dem-1080	68	11	selection	selection	NOUN
dem-1080	68	12	to	to	ADP
dem-1080	68	13	portfolio	portfolio	NOUN
dem-1080	68	14	performance	performance	NOUN
dem-1080	68	15	,	,	PUNCT
dem-1080	68	16	which	which	PRON
dem-1080	68	17	corresponds	correspond	VERB
dem-1080	68	18	to	to	ADP
dem-1080	68	19	testing	test	VERB
dem-1080	68	20	the	the	DET
dem-1080	68	21	null	null	ADJ
dem-1080	68	22	hypothesis	hypothesis	NOUN
dem-1080	68	23	:	:	PUNCT
dem-1080	68	24	0	0	NUM
dem-1080	68	25	:	:	PUNCT
dem-1080	68	26	0ph	0ph	NOUN
dem-1080	68	27			X
dem-1080	68	28			NOUN
dem-1080	68	29	(	(	PUNCT
dem-1080	68	30	4	4	NUM
dem-1080	68	31	)	)	PUNCT
dem-1080	68	32	i.e.	i.e.	X
dem-1080	68	33	,	,	PUNCT
dem-1080	68	34	the	the	DET
dem-1080	68	35	manager	manager	NOUN
dem-1080	68	36	does	do	AUX
dem-1080	68	37	not	not	PART
dem-1080	68	38	have	have	VERB
dem-1080	68	39	any	any	DET
dem-1080	68	40	microforecasting	microforecasting	NOUN
dem-1080	68	41	ability	ability	NOUN
dem-1080	68	42	.	.	PUNCT
dem-1080	69	1	the	the	DET
dem-1080	69	2	evaluation	evaluation	NOUN
dem-1080	69	3	of	of	ADP
dem-1080	69	4	market	market	NOUN
dem-1080	69	5	-	-	PUNCT
dem-1080	69	6	timing	timing	NOUN
dem-1080	69	7	skills	skill	NOUN
dem-1080	69	8	is	be	AUX
dem-1080	69	9	carried	carry	VERB
dem-1080	69	10	out	out	ADP
dem-1080	69	11	by	by	ADP
dem-1080	69	12	testing	test	VERB
dem-1080	69	13	the	the	DET
dem-1080	69	14	null	null	ADJ
dem-1080	69	15	hypothesis	hypothesis	NOUN
dem-1080	69	16	:	:	PUNCT
dem-1080	69	17	0	0	NUM
dem-1080	70	1	:	:	PUNCT
dem-1080	70	2	0ph	0ph	NOUN
dem-1080	70	3			PUNCT
dem-1080	70	4			NUM
dem-1080	70	5	(	(	PUNCT
dem-1080	70	6	5	5	NUM
dem-1080	70	7	)	)	PUNCT
dem-1080	70	8	i.e.	i.e.	X
dem-1080	70	9	,	,	PUNCT
dem-1080	70	10	the	the	DET
dem-1080	70	11	manager	manager	NOUN
dem-1080	70	12	does	do	AUX
dem-1080	70	13	not	not	PART
dem-1080	70	14	possess	possess	VERB
dem-1080	70	15	any	any	DET
dem-1080	70	16	timing	timing	NOUN
dem-1080	70	17	ability	ability	NOUN
dem-1080	70	18	or	or	CCONJ
dem-1080	70	19	does	do	AUX
dem-1080	70	20	not	not	PART
dem-1080	70	21	on	on	ADP
dem-1080	70	22	his	his	PRON
dem-1080	70	23	forecast	forecast	NOUN
dem-1080	70	24	(	(	PUNCT
dem-1080	70	25	henriksson	henriksson	NOUN
dem-1080	70	26	1984	1984	NUM
dem-1080	70	27	)	)	PUNCT
dem-1080	70	28	.	.	PUNCT
dem-1080	71	1	a	a	DET
dem-1080	71	2	negative	negative	ADJ
dem-1080	71	3	value	value	NOUN
dem-1080	71	4	for	for	ADP
dem-1080	71	5	the	the	DET
dem-1080	71	6	regression	regression	NOUN
dem-1080	71	7	estimate	estimate	NOUN
dem-1080	71	8	ˆp	ˆp	NOUN
dem-1080	71	9	would	would	AUX
dem-1080	71	10	imply	imply	VERB
dem-1080	71	11	a	a	DET
dem-1080	71	12	negative	negative	ADJ
dem-1080	71	13	value	value	NOUN
dem-1080	71	14	for	for	ADP
dem-1080	71	15	market	market	NOUN
dem-1080	71	16	-	-	PUNCT
dem-1080	71	17	timing	timing	NOUN
dem-1080	71	18	.	.	PUNCT
dem-1080	72	1	the	the	DET
dem-1080	72	2	size	size	NOUN
dem-1080	72	3	of	of	ADP
dem-1080	72	4	the	the	DET
dem-1080	72	5	estimate	estimate	NOUN
dem-1080	72	6	ˆp	ˆp	PROPN
dem-1080	72	7	informs	inform	VERB
dem-1080	72	8	us	we	PRON
dem-1080	72	9	about	about	ADP
dem-1080	72	10	the	the	DET
dem-1080	72	11	manager	manager	NOUN
dem-1080	72	12	’s	’s	PART
dem-1080	72	13	market	market	NOUN
dem-1080	72	14	skills	skill	NOUN
dem-1080	72	15	.	.	PUNCT
dem-1080	73	1	1.3	1.3	NUM
dem-1080	73	2	.	.	PUNCT
dem-1080	74	1	the	the	DET
dem-1080	74	2	garch(p	garch(p	PROPN
dem-1080	74	3	,	,	PUNCT
dem-1080	74	4	q	q	NOUN
dem-1080	74	5	)	)	PUNCT
dem-1080	74	6	model	model	NOUN
dem-1080	74	7	the	the	DET
dem-1080	74	8	first	first	ADJ
dem-1080	74	9	model	model	NOUN
dem-1080	74	10	that	that	PRON
dem-1080	74	11	provides	provide	VERB
dem-1080	74	12	a	a	DET
dem-1080	74	13	systematic	systematic	ADJ
dem-1080	74	14	framework	framework	NOUN
dem-1080	74	15	for	for	ADP
dem-1080	74	16	volatility	volatility	NOUN
dem-1080	74	17	modeling	modeling	NOUN
dem-1080	74	18	is	be	AUX
dem-1080	74	19	the	the	DET
dem-1080	74	20	arch	arch	ADJ
dem-1080	74	21	model	model	NOUN
dem-1080	74	22	of	of	ADP
dem-1080	74	23	engle	engle	PROPN
dem-1080	74	24	(	(	PUNCT
dem-1080	74	25	1982	1982	NUM
dem-1080	74	26	)	)	PUNCT
dem-1080	74	27	.	.	PUNCT
dem-1080	75	1	engle	engle	PROPN
dem-1080	75	2	proposed	propose	VERB
dem-1080	75	3	the	the	DET
dem-1080	75	4	arch	arch	ADJ
dem-1080	75	5	models	model	NOUN
dem-1080	75	6	to	to	PART
dem-1080	75	7	capture	capture	VERB
dem-1080	75	8	the	the	DET
dem-1080	75	9	serial	serial	ADJ
dem-1080	75	10	correlation	correlation	NOUN
dem-1080	75	11	of	of	ADP
dem-1080	75	12	volatility	volatility	NOUN
dem-1080	75	13	(	(	PUNCT
dem-1080	75	14	campbell	campbell	PROPN
dem-1080	75	15	et	et	PROPN
dem-1080	75	16	al	al	PROPN
dem-1080	75	17	.	.	PROPN
dem-1080	75	18	,	,	PUNCT
dem-1080	75	19	1997	1997	NUM
dem-1080	75	20	,	,	PUNCT
dem-1080	75	21	p.	p.	NOUN
dem-1080	75	22	482	482	NUM
dem-1080	75	23	)	)	PUNCT
dem-1080	75	24	.	.	PUNCT
dem-1080	76	1	engle	engle	PROPN
dem-1080	76	2	suggested	suggest	VERB
dem-1080	76	3	the	the	DET
dem-1080	76	4	arch	arch	ADJ
dem-1080	76	5	model	model	NOUN
dem-1080	76	6	as	as	ADP
dem-1080	76	7	an	an	DET
dem-1080	76	8	alternative	alternative	NOUN
dem-1080	76	9	to	to	ADP
dem-1080	76	10	the	the	DET
dem-1080	76	11	usual	usual	ADJ
dem-1080	76	12	time	time	NOUN
dem-1080	76	13	-	-	PUNCT
dem-1080	76	14	series	series	NOUN
dem-1080	76	15	process	process	NOUN
dem-1080	76	16	.	.	PUNCT
dem-1080	77	1	more	more	ADJ
dem-1080	77	2	recent	recent	ADJ
dem-1080	77	3	studies	study	NOUN
dem-1080	77	4	of	of	ADP
dem-1080	77	5	financial	financial	ADJ
dem-1080	77	6	markets	market	NOUN
dem-1080	77	7	suggest	suggest	VERB
dem-1080	77	8	that	that	SCONJ
dem-1080	77	9	the	the	DET
dem-1080	77	10	phenomenon	phenomenon	NOUN
dem-1080	77	11	is	be	AUX
dem-1080	77	12	quite	quite	ADV
dem-1080	77	13	common	common	ADJ
dem-1080	77	14	(	(	PUNCT
dem-1080	77	15	greene	greene	PROPN
dem-1080	77	16	,	,	PUNCT
dem-1080	77	17	2002	2002	NUM
dem-1080	77	18	)	)	PUNCT
dem-1080	77	19	.	.	PUNCT
dem-1080	78	1	the	the	DET
dem-1080	78	2	basic	basic	ADJ
dem-1080	78	3	idea	idea	NOUN
dem-1080	78	4	of	of	ADP
dem-1080	78	5	the	the	DET
dem-1080	78	6	arch	arch	ADJ
dem-1080	78	7	models	model	NOUN
dem-1080	78	8	is	be	AUX
dem-1080	78	9	that	that	PRON
dem-1080	78	10	1	1	X
dem-1080	78	11	)	)	PUNCT
dem-1080	78	12	the	the	DET
dem-1080	78	13	innovation	innovation	NOUN
dem-1080	78	14	t	t	PROPN
dem-1080	78	15	of	of	ADP
dem-1080	78	16	the	the	DET
dem-1080	78	17	regression	regression	NOUN
dem-1080	78	18	is	be	AUX
dem-1080	78	19	serially	serially	ADV
dem-1080	78	20	uncorrelated	uncorrelate	VERB
dem-1080	78	21	,	,	PUNCT
dem-1080	78	22	but	but	CCONJ
dem-1080	78	23	dependent	dependent	ADJ
dem-1080	78	24	,	,	PUNCT
dem-1080	78	25	and	and	CCONJ
dem-1080	78	26	2	2	X
dem-1080	78	27	)	)	PUNCT
dem-1080	78	28	the	the	DET
dem-1080	78	29	dependence	dependence	NOUN
dem-1080	78	30	of	of	ADP
dem-1080	78	31	t	t	PROPN
dem-1080	78	32	can	can	AUX
dem-1080	78	33	be	be	AUX
dem-1080	78	34	described	describe	VERB
dem-1080	78	35	by	by	ADP
dem-1080	78	36	a	a	DET
dem-1080	78	37	simple	simple	ADJ
dem-1080	78	38	quadratic	quadratic	ADJ
dem-1080	78	39	function	function	NOUN
dem-1080	78	40	of	of	ADP
dem-1080	78	41	its	its	PRON
dem-1080	78	42	lagged	lag	VERB
dem-1080	78	43	values	value	NOUN
dem-1080	78	44	(	(	PUNCT
dem-1080	78	45	tsay	tsay	PROPN
dem-1080	78	46	,	,	PUNCT
dem-1080	78	47	2010	2010	NUM
dem-1080	78	48	)	)	PUNCT
dem-1080	78	49	.	.	PUNCT
dem-1080	79	1	the	the	DET
dem-1080	79	2	arch(q	arch(q	NOUN
dem-1080	79	3	)	)	PUNCT
dem-1080	79	4	regression	regression	NOUN
dem-1080	79	5	model	model	NOUN
dem-1080	79	6	is	be	AUX
dem-1080	79	7	obtained	obtain	VERB
dem-1080	79	8	by	by	ADP
dem-1080	79	9	assuming	assume	VERB
dem-1080	79	10	that	that	SCONJ
dem-1080	79	11	the	the	DET
dem-1080	79	12	mean	mean	NOUN
dem-1080	79	13	of	of	ADP
dem-1080	79	14	random	random	ADJ
dem-1080	79	15	variable	variable	NOUN
dem-1080	79	16	ty	ty	INTJ
dem-1080	79	17	,	,	PUNCT
dem-1080	79	18	which	which	PRON
dem-1080	79	19	is	be	AUX
dem-1080	79	20	drawn	draw	VERB
dem-1080	79	21	from	from	ADP
dem-1080	79	22	the	the	DET
dem-1080	79	23	conditional	conditional	ADJ
dem-1080	79	24	density	density	NOUN
dem-1080	79	25	function	function	NOUN
dem-1080	79	26	1	1	NUM
dem-1080	79	27	(	(	PUNCT
dem-1080	79	28	)	)	PUNCT
dem-1080	79	29	t	t	NOUN
dem-1080	79	30	tf	tf	NUM
dem-1080	79	31	y	y	PROPN
dem-1080	79	32	y	y	PROPN
dem-1080	79	33			PROPN
dem-1080	79	34	,	,	PUNCT
dem-1080	79	35	is	be	AUX
dem-1080	79	36	given	give	VERB
dem-1080	79	37	as	as	ADP
dem-1080	79	38	tx	tx	PROPN
dem-1080	79	39	b	b	PROPN
dem-1080	79	40	,	,	PUNCT
dem-1080	79	41	a	a	DET
dem-1080	79	42	linear	linear	ADJ
dem-1080	79	43	combination	combination	NOUN
dem-1080	79	44	of	of	ADP
dem-1080	79	45	lagged	lag	VERB
dem-1080	79	46	endogenous	endogenous	ADJ
dem-1080	79	47	and	and	CCONJ
dem-1080	79	48	exogenous	exogenous	ADJ
dem-1080	79	49	variables	variable	NOUN
dem-1080	79	50	included	include	VERB
dem-1080	79	51	in	in	ADP
dem-1080	79	52	the	the	DET
dem-1080	79	53	information	information	NOUN
dem-1080	79	54	set	set	VERB
dem-1080	79	55	1t	1t	NUM
dem-1080	79	56			NOUN
dem-1080	79	57	,	,	PUNCT
dem-1080	79	58	with	with	ADP
dem-1080	79	59	b	b	PROPN
dem-1080	79	60	a	a	DET
dem-1080	79	61	vector	vector	NOUN
dem-1080	79	62	of	of	ADP
dem-1080	79	63	unknown	unknown	ADJ
dem-1080	79	64	parameters	parameter	NOUN
dem-1080	79	65	(	(	PUNCT
dem-1080	79	66	engle	engle	PROPN
dem-1080	79	67	,	,	PUNCT
dem-1080	79	68	1982	1982	NUM
dem-1080	79	69	)	)	PUNCT
dem-1080	79	70	.	.	PUNCT
dem-1080	80	1	formally	formally	ADV
dem-1080	80	2	:	:	PUNCT
dem-1080	80	3	1	1	NUM
dem-1080	80	4	2	2	NUM
dem-1080	80	5	1	1	NUM
dem-1080	80	6	2	2	NUM
dem-1080	80	7	0	0	NUM
dem-1080	80	8	1	1	NUM
dem-1080	80	9	0	0	NUM
dem-1080	80	10	~	~	PUNCT
dem-1080	80	11	(	(	PUNCT
dem-1080	80	12	,	,	PUNCT
dem-1080	80	13	)	)	PUNCT
dem-1080	80	14	,	,	PUNCT
dem-1080	80	15	,	,	PUNCT
dem-1080	80	16	(	(	PUNCT
dem-1080	80	17	,	,	PUNCT
dem-1080	80	18	,	,	PUNCT
dem-1080	80	19	,	,	PUNCT
dem-1080	80	20	,	,	PUNCT
dem-1080	80	21	)	)	PUNCT
dem-1080	80	22	,	,	PUNCT
dem-1080	80	23	0	0	NUM
dem-1080	80	24	,	,	PUNCT
dem-1080	80	25	0	0	NUM
dem-1080	80	26	,	,	PUNCT
dem-1080	80	27	1	1	NUM
dem-1080	80	28	,	,	PUNCT
dem-1080	80	29	,	,	PUNCT
dem-1080	80	30	.	.	PUNCT
dem-1080	81	1	t	t	PROPN
dem-1080	81	2	t	t	PROPN
dem-1080	81	3	t	t	PROPN
dem-1080	81	4	t	t	PROPN
dem-1080	81	5	t	t	PROPN
dem-1080	81	6	t	t	PROPN
dem-1080	81	7	t	t	PROPN
dem-1080	81	8	q	q	PROPN
dem-1080	81	9	t	t	PROPN
dem-1080	81	10	t	t	PROPN
dem-1080	81	11	t	t	PROPN
dem-1080	81	12	t	t	PROPN
dem-1080	81	13	q	q	PROPN
dem-1080	82	1	i	i	PRON
dem-1080	82	2	t	t	X
dem-1080	83	1	i	i	PRON
dem-1080	84	1	i	i	PRON
dem-1080	85	1	i	i	VERB
dem-1080	85	2	y	y	VERB
dem-1080	85	3	n	n	INTJ
dem-1080	86	1	x	x	NOUN
dem-1080	86	2	h	h	NOUN
dem-1080	86	3	y	y	NOUN
dem-1080	86	4	x	x	PUNCT
dem-1080	87	1	h	h	NOUN
dem-1080	87	2	h	h	NOUN
dem-1080	88	1	i	i	PRON
dem-1080	88	2	q	q	PROPN
dem-1080	88	3			NUM
dem-1080	88	4			PROPN
dem-1080	88	5			PROPN
dem-1080	88	6			PROPN
dem-1080	88	7			PROPN
dem-1080	88	8			VERB
dem-1080	88	9			X
dem-1080	88	10			PROPN
dem-1080	88	11			NOUN
dem-1080	88	12			PRON
dem-1080	88	13			VERB
dem-1080	88	14			PROPN
dem-1080	88	15			PROPN
dem-1080	88	16			PROPN
dem-1080	88	17			PROPN
dem-1080	88	18			PROPN
dem-1080	88	19			PROPN
dem-1080	88	20			NOUN
dem-1080	88	21			PROPN
dem-1080	88	22			PROPN
dem-1080	88	23			ADJ
dem-1080	88	24			PROPN
dem-1080	88	25			VERB
dem-1080	88	26			NUM
dem-1080	88	27			NOUN
dem-1080	88	28			X
dem-1080	89	1	b	b	X
dem-1080	89	2	b	b	X
dem-1080	89	3	α	α	NOUN
dem-1080	89	4			PROPN
dem-1080	89	5	(	(	PUNCT
dem-1080	89	6	6	6	NUM
dem-1080	89	7	)	)	PUNCT
dem-1080	89	8	joanna	joanna	NOUN
dem-1080	89	9	olbryś	olbryś	NOUN
dem-1080	89	10	190	190	NUM
dem-1080	89	11	where	where	SCONJ
dem-1080	89	12	t	t	PROPN
dem-1080	89	13	is	be	AUX
dem-1080	89	14	the	the	DET
dem-1080	89	15	innovation	innovation	NOUN
dem-1080	89	16	in	in	ADP
dem-1080	89	17	a	a	DET
dem-1080	89	18	linear	linear	ADJ
dem-1080	89	19	regression	regression	NOUN
dem-1080	89	20	with	with	ADP
dem-1080	89	21	2	2	NUM
dem-1080	89	22	(	(	PUNCT
dem-1080	89	23	)	)	PUNCT
dem-1080	89	24	v	v	NOUN
dem-1080	89	25			PROPN
dem-1080	89	26			NOUN
dem-1080	89	27	,	,	PUNCT
dem-1080	89	28	q	q	X
dem-1080	89	29	is	be	AUX
dem-1080	89	30	the	the	DET
dem-1080	89	31	order	order	NOUN
dem-1080	89	32	of	of	ADP
dem-1080	89	33	the	the	DET
dem-1080	89	34	arch(q	arch(q	NOUN
dem-1080	89	35	)	)	PUNCT
dem-1080	89	36	process	process	NOUN
dem-1080	89	37	,	,	PUNCT
dem-1080	89	38	α	α	PROPN
dem-1080	89	39	is	be	AUX
dem-1080	89	40	the	the	DET
dem-1080	89	41	vector	vector	NOUN
dem-1080	89	42	of	of	ADP
dem-1080	89	43	unknown	unknown	ADJ
dem-1080	89	44	parameters	parameter	NOUN
dem-1080	89	45	,	,	PUNCT
dem-1080	89	46	th	th	X
dem-1080	89	47	is	be	AUX
dem-1080	89	48	the	the	DET
dem-1080	89	49	variance	variance	NOUN
dem-1080	89	50	function	function	NOUN
dem-1080	89	51	.	.	PUNCT
dem-1080	90	1	the	the	DET
dem-1080	90	2	null	null	ADJ
dem-1080	90	3	hypothesis	hypothesis	NOUN
dem-1080	90	4	of	of	ADP
dem-1080	90	5	white	white	ADJ
dem-1080	90	6	noise	noise	NOUN
dem-1080	90	7	disturbances	disturbance	NOUN
dem-1080	90	8	in	in	ADP
dem-1080	90	9	(	(	PUNCT
dem-1080	90	10	6	6	NUM
dem-1080	90	11	)	)	PUNCT
dem-1080	90	12	is	be	AUX
dem-1080	90	13	:	:	PUNCT
dem-1080	90	14	0	0	NUM
dem-1080	90	15	1	1	NUM
dem-1080	90	16	:	:	PUNCT
dem-1080	90	17	0qh	0qh	ADJ
dem-1080	90	18			PUNCT
dem-1080	90	19			VERB
dem-1080	90	20			NOUN
dem-1080	90	21			NOUN
dem-1080	90	22	(	(	PUNCT
dem-1080	90	23	7	7	X
dem-1080	90	24	)	)	PUNCT
dem-1080	90	25	the	the	DET
dem-1080	90	26	garch(p	garch(p	PROPN
dem-1080	90	27	,	,	PUNCT
dem-1080	90	28	q	q	NOUN
dem-1080	90	29	)	)	PUNCT
dem-1080	90	30	model	model	NOUN
dem-1080	90	31	generalizes	generalize	VERB
dem-1080	90	32	the	the	DET
dem-1080	90	33	arch(q	arch(q	NOUN
dem-1080	90	34	)	)	PUNCT
dem-1080	90	35	model	model	NOUN
dem-1080	90	36	of	of	ADP
dem-1080	90	37	engle	engle	PROPN
dem-1080	90	38	(	(	PUNCT
dem-1080	90	39	1982	1982	NUM
dem-1080	90	40	)	)	PUNCT
dem-1080	90	41	and	and	CCONJ
dem-1080	90	42	is	be	AUX
dem-1080	90	43	proposed	propose	VERB
dem-1080	90	44	by	by	ADP
dem-1080	90	45	bollerslev	bollerslev	ADJ
dem-1080	90	46	(	(	PUNCT
dem-1080	90	47	1986	1986	NUM
dem-1080	90	48	)	)	PUNCT
dem-1080	90	49	.	.	PUNCT
dem-1080	91	1	the	the	DET
dem-1080	91	2	garch(p	garch(p	PROPN
dem-1080	91	3	,	,	PUNCT
dem-1080	91	4	q	q	X
dem-1080	91	5	)	)	PUNCT
dem-1080	91	6	is	be	AUX
dem-1080	91	7	given	give	VERB
dem-1080	91	8	by	by	ADP
dem-1080	91	9	:	:	PUNCT
dem-1080	91	10	1	1	NUM
dem-1080	91	11	1	1	NUM
dem-1080	91	12	2	2	NUM
dem-1080	91	13	1	1	NUM
dem-1080	91	14	2	2	NUM
dem-1080	91	15	2	2	NUM
dem-1080	91	16	0	0	NUM
dem-1080	91	17	1	1	NUM
dem-1080	91	18	1	1	NUM
dem-1080	91	19	0	0	NUM
dem-1080	91	20	~	~	PUNCT
dem-1080	91	21	(	(	PUNCT
dem-1080	91	22	0	0	NUM
dem-1080	91	23	0	0	NUM
dem-1080	91	24	1	1	NUM
dem-1080	91	25	0	0	NUM
dem-1080	91	26	0	0	NUM
dem-1080	91	27	1	1	NUM
dem-1080	91	28	0	0	NUM
dem-1080	91	29	t	t	NOUN
dem-1080	91	30	t	t	PROPN
dem-1080	91	31	t	t	PROPN
dem-1080	91	32	t	t	PROPN
dem-1080	91	33	t	t	PROPN
dem-1080	91	34	t	t	PROPN
dem-1080	91	35	t	t	PROPN
dem-1080	91	36	t	t	PROPN
dem-1080	91	37	t	t	PROPN
dem-1080	91	38	t	t	PROPN
dem-1080	91	39	t	t	PROPN
dem-1080	91	40	q	q	PROPN
dem-1080	91	41	t	t	PROPN
dem-1080	91	42	t	t	PROPN
dem-1080	91	43	t	t	PROPN
dem-1080	91	44	p	p	X
dem-1080	91	45	q	q	PROPN
dem-1080	91	46	p	p	X
dem-1080	92	1	i	i	PRON
dem-1080	92	2	t	t	X
dem-1080	93	1	i	i	PRON
dem-1080	93	2	j	j	PROPN
dem-1080	94	1	t	t	PROPN
dem-1080	94	2	j	j	PROPN
dem-1080	95	1	i	i	PRON
dem-1080	95	2	j	j	VERB
dem-1080	96	1	i	i	PRON
dem-1080	96	2	j	j	PROPN
dem-1080	97	1	y	y	PROPN
dem-1080	97	2	n	n	PROPN
dem-1080	97	3	x	x	NOUN
dem-1080	97	4	,	,	PUNCT
dem-1080	97	5	h	h	PROPN
dem-1080	97	6	)	)	PUNCT
dem-1080	97	7	,	,	PUNCT
dem-1080	97	8	y	y	PROPN
dem-1080	97	9	x	x	X
dem-1080	97	10	,	,	PUNCT
dem-1080	97	11	h	h	NOUN
dem-1080	97	12	h	h	NOUN
dem-1080	97	13	(	(	PUNCT
dem-1080	97	14	,	,	PUNCT
dem-1080	97	15	,	,	PUNCT
dem-1080	97	16	,	,	PUNCT
dem-1080	97	17	,	,	PUNCT
dem-1080	97	18	h	h	NOUN
dem-1080	97	19	,	,	PUNCT
dem-1080	97	20	h	h	NOUN
dem-1080	97	21	,	,	PUNCT
dem-1080	97	22	,	,	PUNCT
dem-1080	97	23	h	h	NOUN
dem-1080	97	24	,	,	PUNCT
dem-1080	97	25	,	,	PUNCT
dem-1080	97	26	)	)	PUNCT
dem-1080	97	27	h	h	NOUN
dem-1080	97	28	,	,	PUNCT
dem-1080	97	29	,	,	PUNCT
dem-1080	97	30	,	,	PUNCT
dem-1080	97	31	i	i	PRON
dem-1080	97	32	,	,	PUNCT
dem-1080	97	33	,	,	PUNCT
dem-1080	97	34	q	q	X
dem-1080	97	35	,	,	PUNCT
dem-1080	97	36	q	q	NOUN
dem-1080	97	37	,	,	PUNCT
dem-1080	97	38	,	,	PUNCT
dem-1080	97	39	j	j	PROPN
dem-1080	97	40	,	,	PUNCT
dem-1080	97	41	,	,	PUNCT
dem-1080	97	42	p	p	X
dem-1080	97	43	,	,	PUNCT
dem-1080	97	44	p	p	X
dem-1080	97	45	.	.	PUNCT
dem-1080	98	1			NUM
dem-1080	98	2			PROPN
dem-1080	98	3			PROPN
dem-1080	98	4			PROPN
dem-1080	98	5			PROPN
dem-1080	98	6			VERB
dem-1080	98	7			NUM
dem-1080	98	8			PROPN
dem-1080	98	9			NOUN
dem-1080	98	10			NOUN
dem-1080	98	11			X
dem-1080	98	12			PROPN
dem-1080	98	13			PROPN
dem-1080	98	14			PROPN
dem-1080	98	15			PROPN
dem-1080	98	16			PROPN
dem-1080	98	17			PROPN
dem-1080	98	18			PROPN
dem-1080	98	19			PROPN
dem-1080	98	20			PROPN
dem-1080	98	21			NOUN
dem-1080	98	22			NUM
dem-1080	99	1			NUM
dem-1080	99	2			PROPN
dem-1080	99	3			NOUN
dem-1080	99	4			NOUN
dem-1080	99	5			NUM
dem-1080	99	6			PROPN
dem-1080	99	7			ADJ
dem-1080	99	8			NUM
dem-1080	99	9			ADJ
dem-1080	99	10			PROPN
dem-1080	99	11			NOUN
dem-1080	99	12			NUM
dem-1080	99	13			PROPN
dem-1080	100	1			VERB
dem-1080	100	2			NUM
dem-1080	100	3			NUM
dem-1080	100	4			NUM
dem-1080	100	5			X
dem-1080	100	6			X
dem-1080	101	1	b	b	X
dem-1080	101	2	b	b	X
dem-1080	101	3	α	α	NOUN
dem-1080	101	4	β	β	NOUN
dem-1080	101	5			NUM
dem-1080	101	6			NUM
dem-1080	101	7			NOUN
dem-1080	101	8	(	(	PUNCT
dem-1080	101	9	8)	8)	NUM
dem-1080	101	10	where	where	SCONJ
dem-1080	101	11	t	t	PROPN
dem-1080	101	12	,	,	PUNCT
dem-1080	101	13	q	q	X
dem-1080	101	14	,	,	PUNCT
dem-1080	101	15	α	α	PROPN
dem-1080	101	16	,	,	PUNCT
dem-1080	101	17	th	th	X
dem-1080	101	18	are	be	AUX
dem-1080	101	19	as	as	ADP
dem-1080	101	20	in	in	ADP
dem-1080	101	21	equation	equation	NOUN
dem-1080	101	22	(	(	PUNCT
dem-1080	101	23	6	6	NUM
dem-1080	101	24	)	)	PUNCT
dem-1080	101	25	and	and	CCONJ
dem-1080	101	26	β	β	X
dem-1080	101	27	is	be	AUX
dem-1080	101	28	a	a	DET
dem-1080	101	29	vector	vector	NOUN
dem-1080	101	30	of	of	ADP
dem-1080	101	31	unknown	unknown	ADJ
dem-1080	101	32	parameters	parameter	NOUN
dem-1080	101	33	.	.	PUNCT
dem-1080	102	1	in	in	ADP
dem-1080	102	2	the	the	DET
dem-1080	102	3	garch(p	garch(p	PROPN
dem-1080	102	4	,	,	PUNCT
dem-1080	102	5	q	q	NOUN
dem-1080	102	6	)	)	PUNCT
dem-1080	102	7	model	model	NOUN
dem-1080	102	8	,	,	PUNCT
dem-1080	102	9	q	q	PROPN
dem-1080	102	10	refers	refer	VERB
dem-1080	102	11	to	to	ADP
dem-1080	102	12	the	the	DET
dem-1080	102	13	number	number	NOUN
dem-1080	102	14	of	of	ADP
dem-1080	102	15	lags	lag	NOUN
dem-1080	102	16	of	of	ADP
dem-1080	102	17	t	t	PROPN
dem-1080	102	18	and	and	CCONJ
dem-1080	102	19	p	p	NOUN
dem-1080	102	20	refers	refer	VERB
dem-1080	102	21	to	to	ADP
dem-1080	102	22	the	the	DET
dem-1080	102	23	number	number	NOUN
dem-1080	102	24	of	of	ADP
dem-1080	102	25	lags	lag	NOUN
dem-1080	102	26	of	of	ADP
dem-1080	102	27	th	th	PRON
dem-1080	102	28	to	to	PART
dem-1080	102	29	include	include	VERB
dem-1080	102	30	in	in	ADP
dem-1080	102	31	the	the	DET
dem-1080	102	32	model	model	NOUN
dem-1080	102	33	of	of	ADP
dem-1080	102	34	the	the	DET
dem-1080	102	35	regression	regression	NOUN
dem-1080	102	36	variance	variance	NOUN
dem-1080	102	37	(	(	PUNCT
dem-1080	102	38	adkins	adkin	NOUN
dem-1080	102	39	,	,	PUNCT
dem-1080	102	40	2010	2010	NUM
dem-1080	102	41	)	)	PUNCT
dem-1080	102	42	.	.	PUNCT
dem-1080	103	1	for	for	ADP
dem-1080	103	2	0p	0p	NUM
dem-1080	103	3			NUM
dem-1080	103	4	the	the	DET
dem-1080	103	5	process	process	NOUN
dem-1080	103	6	reduces	reduce	VERB
dem-1080	103	7	to	to	ADP
dem-1080	103	8	the	the	DET
dem-1080	103	9	arch(q	arch(q	NOUN
dem-1080	103	10	)	)	PUNCT
dem-1080	103	11	process	process	NOUN
dem-1080	103	12	,	,	PUNCT
dem-1080	103	13	and	and	CCONJ
dem-1080	103	14	for	for	ADP
dem-1080	103	15	0p	0p	NUM
dem-1080	103	16	q	q	ADJ
dem-1080	103	17			PROPN
dem-1080	103	18	,	,	PUNCT
dem-1080	103	19	t	t	PROPN
dem-1080	103	20	is	be	AUX
dem-1080	103	21	simple	simple	ADJ
dem-1080	103	22	white	white	ADJ
dem-1080	103	23	noise	noise	NOUN
dem-1080	103	24	.	.	PUNCT
dem-1080	104	1	the	the	DET
dem-1080	104	2	null	null	ADJ
dem-1080	104	3	hypothesis	hypothesis	NOUN
dem-1080	104	4	of	of	ADP
dem-1080	104	5	white	white	ADJ
dem-1080	104	6	noise	noise	NOUN
dem-1080	104	7	disturbances	disturbance	NOUN
dem-1080	104	8	in	in	ADP
dem-1080	104	9	(	(	PUNCT
dem-1080	104	10	8)	8)	NUM
dem-1080	104	11	is	be	AUX
dem-1080	104	12	:	:	PUNCT
dem-1080	104	13	0	0	NUM
dem-1080	104	14	1	1	NUM
dem-1080	104	15	1	1	NUM
dem-1080	104	16	:	:	SYM
dem-1080	104	17	0	0	NUM
dem-1080	104	18	;	;	PUNCT
dem-1080	104	19	0q	0q	X
dem-1080	104	20	ph	ph	ADJ
dem-1080	104	21			X
dem-1080	104	22			X
dem-1080	104	23			PROPN
dem-1080	104	24			VERB
dem-1080	104	25			PROPN
dem-1080	105	1			NUM
dem-1080	106	1			NUM
dem-1080	106	2			PROPN
dem-1080	106	3			ADJ
dem-1080	106	4			NOUN
dem-1080	106	5	(	(	PUNCT
dem-1080	106	6	9	9	NUM
dem-1080	106	7	)	)	PUNCT
dem-1080	106	8	in	in	ADP
dem-1080	106	9	the	the	DET
dem-1080	106	10	arch(q	arch(q	NOUN
dem-1080	106	11	)	)	PUNCT
dem-1080	106	12	process	process	NOUN
dem-1080	106	13	the	the	DET
dem-1080	106	14	conditional	conditional	ADJ
dem-1080	106	15	variance	variance	NOUN
dem-1080	106	16	is	be	AUX
dem-1080	106	17	specified	specify	VERB
dem-1080	106	18	as	as	ADP
dem-1080	106	19	a	a	DET
dem-1080	106	20	linear	linear	ADJ
dem-1080	106	21	function	function	NOUN
dem-1080	106	22	of	of	ADP
dem-1080	106	23	past	past	ADJ
dem-1080	106	24	sample	sample	NOUN
dem-1080	106	25	variances	variance	NOUN
dem-1080	106	26	only	only	ADV
dem-1080	106	27	,	,	PUNCT
dem-1080	106	28	whereas	whereas	SCONJ
dem-1080	106	29	the	the	DET
dem-1080	106	30	garch(p	garch(p	PROPN
dem-1080	106	31	,	,	PUNCT
dem-1080	106	32	q	q	NOUN
dem-1080	106	33	)	)	PUNCT
dem-1080	106	34	process	process	NOUN
dem-1080	106	35	allows	allow	VERB
dem-1080	106	36	the	the	DET
dem-1080	106	37	lagged	lag	VERB
dem-1080	106	38	conditional	conditional	ADJ
dem-1080	106	39	variances	variance	NOUN
dem-1080	106	40	to	to	PART
dem-1080	106	41	enter	enter	VERB
dem-1080	106	42	as	as	ADV
dem-1080	106	43	well	well	ADV
dem-1080	106	44	(	(	PUNCT
dem-1080	106	45	bollerslev	bollerslev	NOUN
dem-1080	106	46	1986	1986	NUM
dem-1080	106	47	)	)	PUNCT
dem-1080	106	48	.	.	PUNCT
dem-1080	107	1	a	a	DET
dem-1080	107	2	wide	wide	ADJ
dem-1080	107	3	range	range	NOUN
dem-1080	107	4	of	of	ADP
dem-1080	107	5	garch	garch	NOUN
dem-1080	107	6	models	model	NOUN
dem-1080	107	7	have	have	AUX
dem-1080	107	8	now	now	ADV
dem-1080	107	9	appeared	appear	VERB
dem-1080	107	10	in	in	ADP
dem-1080	107	11	the	the	DET
dem-1080	107	12	econometric	econometric	ADJ
dem-1080	107	13	literature	literature	NOUN
dem-1080	107	14	(	(	PUNCT
dem-1080	107	15	e.g.	e.g.	ADV
dem-1080	107	16	engle	engle	NOUN
dem-1080	107	17	,	,	PUNCT
dem-1080	107	18	2000	2000	NUM
dem-1080	107	19	;	;	PUNCT
dem-1080	107	20	fiszeder	fiszeder	NOUN
dem-1080	107	21	,	,	PUNCT
dem-1080	107	22	2009	2009	NUM
dem-1080	107	23	)	)	PUNCT
dem-1080	107	24	.	.	PUNCT
dem-1080	108	1	the	the	DET
dem-1080	108	2	parameters	parameter	NOUN
dem-1080	108	3	of	of	ADP
dem-1080	108	4	garch(p	garch(p	PROPN
dem-1080	108	5	,	,	PUNCT
dem-1080	108	6	q	q	NOUN
dem-1080	108	7	)	)	PUNCT
dem-1080	108	8	models	model	NOUN
dem-1080	108	9	are	be	AUX
dem-1080	108	10	almost	almost	ADV
dem-1080	108	11	invariably	invariably	ADV
dem-1080	108	12	estimated	estimate	VERB
dem-1080	108	13	via	via	ADP
dem-1080	108	14	maximum	maximum	ADJ
dem-1080	108	15	likelihood	likelihood	NOUN
dem-1080	108	16	(	(	PUNCT
dem-1080	108	17	ml	ml	NOUN
dem-1080	108	18	)	)	PUNCT
dem-1080	108	19	or	or	CCONJ
dem-1080	108	20	quasi	quasi	ADJ
dem-1080	108	21	-	-	ADJ
dem-1080	108	22	maximum	maximum	ADJ
dem-1080	108	23	likelihood	likelihood	NOUN
dem-1080	108	24	(	(	PUNCT
dem-1080	108	25	qml	qml	NOUN
dem-1080	108	26	:	:	PUNCT
dem-1080	108	27	see	see	VERB
dem-1080	108	28	bollerslev	bollerslev	ADJ
dem-1080	108	29	,	,	PUNCT
dem-1080	108	30	wooldridge	wooldridge	PROPN
dem-1080	108	31	,	,	PUNCT
dem-1080	108	32	1992	1992	NUM
dem-1080	108	33	)	)	PUNCT
dem-1080	108	34	methods	method	NOUN
dem-1080	108	35	,	,	PUNCT
dem-1080	108	36	which	which	PRON
dem-1080	108	37	bring	bring	VERB
dem-1080	108	38	up	up	ADP
dem-1080	108	39	the	the	DET
dem-1080	108	40	subject	subject	NOUN
dem-1080	108	41	of	of	ADP
dem-1080	108	42	a	a	DET
dem-1080	108	43	suitable	suitable	ADJ
dem-1080	108	44	choice	choice	NOUN
dem-1080	108	45	for	for	ADP
dem-1080	108	46	the	the	DET
dem-1080	108	47	conditional	conditional	ADJ
dem-1080	108	48	distribution	distribution	NOUN
dem-1080	108	49	of	of	ADP
dem-1080	108	50	t	t	PROPN
dem-1080	108	51	.	.	PUNCT
dem-1080	109	1	several	several	ADJ
dem-1080	109	2	likelihood	likelihood	NOUN
dem-1080	109	3	functions	function	NOUN
dem-1080	109	4	are	be	AUX
dem-1080	109	5	commonly	commonly	ADV
dem-1080	109	6	used	use	VERB
dem-1080	109	7	in	in	ADP
dem-1080	109	8	arch	arch	ADJ
dem-1080	109	9	(	(	PUNCT
dem-1080	109	10	garch	garch	NOUN
dem-1080	109	11	)	)	PUNCT
dem-1080	109	12	estimation	estimation	NOUN
dem-1080	109	13	,	,	PUNCT
dem-1080	109	14	depending	depend	VERB
dem-1080	109	15	on	on	ADP
dem-1080	109	16	the	the	DET
dem-1080	109	17	distributional	distributional	ADJ
dem-1080	109	18	assumption	assumption	NOUN
dem-1080	109	19	of	of	ADP
dem-1080	109	20	t	t	PROPN
dem-1080	109	21	(	(	PUNCT
dem-1080	109	22	tsay	tsay	PROPN
dem-1080	109	23	,	,	PUNCT
dem-1080	109	24	2010	2010	NUM
dem-1080	109	25	)	)	PUNCT
dem-1080	109	26	.	.	PUNCT
dem-1080	110	1	1.4	1.4	NUM
dem-1080	110	2	.	.	PUNCT
dem-1080	110	3	testing	test	VERB
dem-1080	110	4	for	for	ADP
dem-1080	110	5	arch	arch	ADJ
dem-1080	110	6	effect	effect	NOUN
dem-1080	110	7	in	in	ADP
dem-1080	110	8	an	an	DET
dem-1080	110	9	econometric	econometric	ADJ
dem-1080	110	10	model	model	NOUN
dem-1080	110	11	before	before	ADP
dem-1080	110	12	estimating	estimate	VERB
dem-1080	110	13	the	the	DET
dem-1080	110	14	garch(p	garch(p	PROPN
dem-1080	110	15	,	,	PUNCT
dem-1080	110	16	q	q	NOUN
dem-1080	110	17	)	)	PUNCT
dem-1080	110	18	model	model	NOUN
dem-1080	110	19	it	it	PRON
dem-1080	110	20	might	might	AUX
dem-1080	110	21	be	be	AUX
dem-1080	110	22	useful	useful	ADJ
dem-1080	110	23	to	to	PART
dem-1080	110	24	test	test	VERB
dem-1080	110	25	for	for	ADP
dem-1080	110	26	the	the	DET
dem-1080	110	27	arch	arch	ADJ
dem-1080	110	28	effect	effect	NOUN
dem-1080	110	29	.	.	PUNCT
dem-1080	111	1	the	the	DET
dem-1080	111	2	simplest	simple	ADJ
dem-1080	111	3	approach	approach	NOUN
dem-1080	111	4	is	be	AUX
dem-1080	111	5	to	to	PART
dem-1080	111	6	examine	examine	VERB
dem-1080	111	7	the	the	DET
dem-1080	111	8	squares	square	NOUN
dem-1080	111	9	of	of	ADP
dem-1080	111	10	the	the	DET
dem-1080	111	11	least	least	ADJ
dem-1080	111	12	arch	arch	ADJ
dem-1080	111	13	effect	effect	NOUN
dem-1080	111	14	in	in	ADP
dem-1080	111	15	classical	classical	ADJ
dem-1080	111	16	market	market	NOUN
dem-1080	111	17	-	-	PUNCT
dem-1080	111	18	timing	timing	NOUN
dem-1080	111	19	models	model	NOUN
dem-1080	111	20	with	with	ADP
dem-1080	111	21	lagged	lag	VERB
dem-1080	111	22	market	market	NOUN
dem-1080	111	23	variable	variable	NOUN
dem-1080	111	24	…	…	SYM
dem-1080	111	25	191	191	NUM
dem-1080	111	26	squares	square	NOUN
dem-1080	111	27	residuals	residual	NOUN
dem-1080	111	28	.	.	PUNCT
dem-1080	112	1	the	the	DET
dem-1080	112	2	autocorrelations	autocorrelation	NOUN
dem-1080	112	3	of	of	ADP
dem-1080	112	4	the	the	DET
dem-1080	112	5	squares	square	NOUN
dem-1080	112	6	of	of	ADP
dem-1080	112	7	the	the	DET
dem-1080	112	8	residuals	residual	NOUN
dem-1080	112	9	provide	provide	VERB
dem-1080	112	10	evidence	evidence	NOUN
dem-1080	112	11	about	about	ADP
dem-1080	112	12	arch	arch	ADJ
dem-1080	112	13	effects	effect	NOUN
dem-1080	112	14	(	(	PUNCT
dem-1080	112	15	greene	greene	PROPN
dem-1080	112	16	,	,	PUNCT
dem-1080	112	17	2002	2002	NUM
dem-1080	112	18	)	)	PUNCT
dem-1080	112	19	.	.	PUNCT
dem-1080	113	1	two	two	NUM
dem-1080	113	2	tests	test	NOUN
dem-1080	113	3	are	be	AUX
dem-1080	113	4	available	available	ADJ
dem-1080	113	5	.	.	PUNCT
dem-1080	114	1	the	the	DET
dem-1080	114	2	first	first	ADJ
dem-1080	114	3	test	test	NOUN
dem-1080	114	4	is	be	AUX
dem-1080	114	5	to	to	PART
dem-1080	114	6	apply	apply	VERB
dem-1080	114	7	the	the	DET
dem-1080	114	8	ljung	ljung	ADJ
dem-1080	114	9	-	-	PUNCT
dem-1080	114	10	box	box	NOUN
dem-1080	114	11	statistics	statistic	NOUN
dem-1080	114	12	(	(	PUNCT
dem-1080	114	13	)	)	PUNCT
dem-1080	114	14	q	q	NOUN
dem-1080	114	15	q	q	X
dem-1080	114	16	(	(	PUNCT
dem-1080	114	17	ljung	ljung	PROPN
dem-1080	114	18	,	,	PUNCT
dem-1080	114	19	box	box	NOUN
dem-1080	114	20	,	,	PUNCT
dem-1080	114	21	1978	1978	NUM
dem-1080	114	22	)	)	PUNCT
dem-1080	114	23	.	.	PUNCT
dem-1080	115	1	the	the	DET
dem-1080	115	2	null	null	ADJ
dem-1080	115	3	hypothesis	hypothesis	NOUN
dem-1080	115	4	is	be	AUX
dem-1080	115	5	that	that	SCONJ
dem-1080	115	6	the	the	DET
dem-1080	115	7	first	first	ADJ
dem-1080	115	8	q	q	ADJ
dem-1080	115	9	lags	lag	NOUN
dem-1080	115	10	of	of	ADP
dem-1080	115	11	acf	acf	NOUN
dem-1080	115	12	of	of	ADP
dem-1080	115	13	the	the	DET
dem-1080	115	14	squares	square	NOUN
dem-1080	115	15	of	of	ADP
dem-1080	115	16	the	the	DET
dem-1080	115	17	least	least	ADJ
dem-1080	115	18	squares	square	NOUN
dem-1080	115	19	residuals	residual	NOUN
dem-1080	115	20	series	series	NOUN
dem-1080	115	21	are	be	AUX
dem-1080	115	22	zero	zero	NUM
dem-1080	115	23	.	.	PUNCT
dem-1080	116	1	in	in	ADP
dem-1080	116	2	practice	practice	NOUN
dem-1080	116	3	,	,	PUNCT
dem-1080	116	4	the	the	DET
dem-1080	116	5	choice	choice	NOUN
dem-1080	116	6	of	of	ADP
dem-1080	116	7	q	q	NOUN
dem-1080	116	8	may	may	AUX
dem-1080	116	9	affect	affect	VERB
dem-1080	116	10	the	the	DET
dem-1080	116	11	performance	performance	NOUN
dem-1080	116	12	of	of	ADP
dem-1080	116	13	the	the	DET
dem-1080	116	14	(	(	PUNCT
dem-1080	116	15	)	)	PUNCT
dem-1080	116	16	q	q	PRON
dem-1080	116	17	q	q	NOUN
dem-1080	116	18	statistic	statistic	NOUN
dem-1080	116	19	.	.	PUNCT
dem-1080	117	1	simulation	simulation	NOUN
dem-1080	117	2	studies	study	NOUN
dem-1080	117	3	suggest	suggest	VERB
dem-1080	117	4	that	that	SCONJ
dem-1080	117	5	the	the	DET
dem-1080	117	6	choice	choice	NOUN
dem-1080	117	7	of	of	ADP
dem-1080	117	8	ln	ln	ADJ
dem-1080	117	9	(	(	PUNCT
dem-1080	117	10	)	)	PUNCT
dem-1080	117	11	q	q	NOUN
dem-1080	117	12	t	t	NOUN
dem-1080	117	13	,	,	PUNCT
dem-1080	117	14	where	where	SCONJ
dem-1080	117	15	t	t	PROPN
dem-1080	117	16	is	be	AUX
dem-1080	117	17	the	the	DET
dem-1080	117	18	number	number	NOUN
dem-1080	117	19	of	of	ADP
dem-1080	117	20	time	time	NOUN
dem-1080	117	21	periods	period	NOUN
dem-1080	117	22	,	,	PUNCT
dem-1080	117	23	provides	provide	VERB
dem-1080	117	24	better	well	ADJ
dem-1080	117	25	power	power	NOUN
dem-1080	117	26	performance	performance	NOUN
dem-1080	117	27	(	(	PUNCT
dem-1080	117	28	tsay	tsay	PROPN
dem-1080	117	29	,	,	PUNCT
dem-1080	117	30	2010	2010	NUM
dem-1080	117	31	,	,	PUNCT
dem-1080	117	32	p.	p.	NOUN
dem-1080	117	33	33	33	NUM
dem-1080	117	34	)	)	PUNCT
dem-1080	117	35	.	.	PUNCT
dem-1080	118	1	the	the	DET
dem-1080	118	2	second	second	ADJ
dem-1080	118	3	test	test	NOUN
dem-1080	118	4	for	for	ADP
dem-1080	118	5	conditional	conditional	ADJ
dem-1080	118	6	heteroskedasticity	heteroskedasticity	NOUN
dem-1080	118	7	is	be	AUX
dem-1080	118	8	the	the	DET
dem-1080	118	9	lagrange	lagrange	NOUN
dem-1080	118	10	multiplier	multiplier	ADV
dem-1080	118	11	(	(	PUNCT
dem-1080	118	12	lm	lm	INTJ
dem-1080	118	13	)	)	PUNCT
dem-1080	118	14	test	test	NOUN
dem-1080	118	15	of	of	ADP
dem-1080	118	16	engle	engle	PROPN
dem-1080	118	17	(	(	PUNCT
dem-1080	118	18	1982	1982	NUM
dem-1080	118	19	)	)	PUNCT
dem-1080	118	20	.	.	PUNCT
dem-1080	119	1	lee	lee	PROPN
dem-1080	119	2	(	(	PUNCT
dem-1080	119	3	1991	1991	NUM
dem-1080	119	4	)	)	PUNCT
dem-1080	119	5	found	find	VERB
dem-1080	119	6	that	that	SCONJ
dem-1080	119	7	the	the	DET
dem-1080	119	8	lm	lm	PROPN
dem-1080	119	9	test	test	NOUN
dem-1080	119	10	of	of	ADP
dem-1080	119	11	white	white	ADJ
dem-1080	119	12	noise	noise	NOUN
dem-1080	119	13	disturbances	disturbance	NOUN
dem-1080	119	14	against	against	ADP
dem-1080	119	15	garch(p	garch(p	PROPN
dem-1080	119	16	,	,	PUNCT
dem-1080	119	17	q	q	NOUN
dem-1080	119	18	)	)	PUNCT
dem-1080	119	19	disturbances	disturbance	NOUN
dem-1080	119	20	in	in	ADP
dem-1080	119	21	a	a	DET
dem-1080	119	22	linear	linear	ADJ
dem-1080	119	23	regression	regression	NOUN
dem-1080	119	24	model	model	NOUN
dem-1080	119	25	is	be	AUX
dem-1080	119	26	equivalent	equivalent	ADJ
dem-1080	119	27	to	to	ADP
dem-1080	119	28	that	that	PRON
dem-1080	119	29	against	against	ADP
dem-1080	119	30	arch(q	arch(q	NOUN
dem-1080	119	31	)	)	PUNCT
dem-1080	119	32	disturbances	disturbance	NOUN
dem-1080	119	33	.	.	PUNCT
dem-1080	120	1	this	this	PRON
dem-1080	120	2	implies	imply	VERB
dem-1080	120	3	that	that	SCONJ
dem-1080	120	4	under	under	ADP
dem-1080	120	5	the	the	DET
dem-1080	120	6	null	null	ADJ
dem-1080	120	7	hypothesis	hypothesis	NOUN
dem-1080	120	8	of	of	ADP
dem-1080	120	9	white	white	ADJ
dem-1080	120	10	noise	noise	NOUN
dem-1080	120	11	,	,	PUNCT
dem-1080	120	12	the	the	DET
dem-1080	120	13	garch(p	garch(p	PROPN
dem-1080	120	14	,	,	PUNCT
dem-1080	120	15	q	q	ADJ
dem-1080	120	16	)	)	PUNCT
dem-1080	120	17	effect	effect	NOUN
dem-1080	120	18	and	and	CCONJ
dem-1080	120	19	the	the	DET
dem-1080	120	20	arch(q	arch(q	NOUN
dem-1080	120	21	)	)	PUNCT
dem-1080	120	22	effect	effect	NOUN
dem-1080	120	23	are	be	AUX
dem-1080	120	24	locally	locally	ADV
dem-1080	120	25	equivalent	equivalent	ADJ
dem-1080	120	26	alternatives	alternative	NOUN
dem-1080	120	27	.	.	PUNCT
dem-1080	121	1	hence	hence	ADV
dem-1080	121	2	we	we	PRON
dem-1080	121	3	can	can	AUX
dem-1080	121	4	proceed	proceed	VERB
dem-1080	121	5	by	by	ADP
dem-1080	121	6	testing	test	VERB
dem-1080	121	7	the	the	DET
dem-1080	121	8	arch(q	arch(q	NOUN
dem-1080	121	9	)	)	PUNCT
dem-1080	121	10	effect	effect	NOUN
dem-1080	121	11	against	against	ADP
dem-1080	121	12	the	the	DET
dem-1080	121	13	garch(p	garch(p	PROPN
dem-1080	121	14	,	,	PUNCT
dem-1080	121	15	q	q	ADJ
dem-1080	121	16	)	)	PUNCT
dem-1080	121	17	effect	effect	NOUN
dem-1080	121	18	(	(	PUNCT
dem-1080	121	19	lee	lee	PROPN
dem-1080	121	20	,	,	PUNCT
dem-1080	121	21	1991	1991	NUM
dem-1080	121	22	,	,	PUNCT
dem-1080	121	23	pp	pp	ADV
dem-1080	121	24	.	.	PUNCT
dem-1080	122	1	269–270	269–270	NUM
dem-1080	122	2	)	)	PUNCT
dem-1080	122	3	.	.	PUNCT
dem-1080	123	1	an	an	DET
dem-1080	123	2	lm	lm	ADJ
dem-1080	123	3	test	test	NOUN
dem-1080	123	4	of	of	ADP
dem-1080	123	5	arch(q	arch(q	NOUN
dem-1080	123	6	)	)	PUNCT
dem-1080	123	7	against	against	ADP
dem-1080	123	8	the	the	DET
dem-1080	123	9	hypothesis	hypothesis	NOUN
dem-1080	123	10	of	of	ADP
dem-1080	123	11	no	no	DET
dem-1080	123	12	arch	arch	ADJ
dem-1080	123	13	effects	effect	NOUN
dem-1080	123	14	can	can	AUX
dem-1080	123	15	be	be	AUX
dem-1080	123	16	carried	carry	VERB
dem-1080	123	17	out	out	ADP
dem-1080	123	18	by	by	ADP
dem-1080	123	19	computing	compute	VERB
dem-1080	123	20	2	2	NUM
dem-1080	123	21	2	2	NUM
dem-1080	123	22	q	q	NOUN
dem-1080	123	23	t	t	NOUN
dem-1080	123	24	r	r	NOUN
dem-1080	123	25			NOUN
dem-1080	123	26			PROPN
dem-1080	123	27	in	in	ADP
dem-1080	123	28	the	the	DET
dem-1080	123	29	regression	regression	NOUN
dem-1080	123	30	of	of	ADP
dem-1080	123	31	2	2	NUM
dem-1080	123	32	te	te	NOUN
dem-1080	123	33	on	on	ADP
dem-1080	123	34	a	a	DET
dem-1080	123	35	constant	constant	ADJ
dem-1080	123	36	and	and	CCONJ
dem-1080	123	37	q	q	NOUN
dem-1080	123	38	lagged	lag	VERB
dem-1080	123	39	values	value	NOUN
dem-1080	123	40	.	.	PUNCT
dem-1080	124	1	under	under	ADP
dem-1080	124	2	the	the	DET
dem-1080	124	3	null	null	ADJ
dem-1080	124	4	hypothesis	hypothesis	NOUN
dem-1080	124	5	of	of	ADP
dem-1080	124	6	no	no	DET
dem-1080	124	7	arch	arch	ADJ
dem-1080	124	8	effects	effect	NOUN
dem-1080	124	9	,	,	PUNCT
dem-1080	124	10	the	the	DET
dem-1080	124	11	statistic	statistic	NOUN
dem-1080	124	12	has	have	VERB
dem-1080	124	13	a	a	DET
dem-1080	124	14	limiting	limit	VERB
dem-1080	124	15	chi	chi	ADJ
dem-1080	124	16	-	-	PUNCT
dem-1080	124	17	squared	square	VERB
dem-1080	124	18	distribution	distribution	NOUN
dem-1080	124	19	with	with	ADP
dem-1080	124	20	q	q	NOUN
dem-1080	124	21	degrees	degree	NOUN
dem-1080	124	22	of	of	ADP
dem-1080	124	23	freedom	freedom	NOUN
dem-1080	124	24	.	.	PUNCT
dem-1080	125	1	values	value	NOUN
dem-1080	125	2	larger	large	ADJ
dem-1080	125	3	than	than	ADP
dem-1080	125	4	the	the	DET
dem-1080	125	5	critical	critical	ADJ
dem-1080	125	6	table	table	NOUN
dem-1080	125	7	value	value	NOUN
dem-1080	125	8	give	give	VERB
dem-1080	125	9	evidence	evidence	NOUN
dem-1080	125	10	of	of	ADP
dem-1080	125	11	the	the	DET
dem-1080	125	12	presence	presence	NOUN
dem-1080	125	13	of	of	ADP
dem-1080	125	14	arch	arch	NOUN
dem-1080	125	15	(	(	PUNCT
dem-1080	125	16	or	or	CCONJ
dem-1080	125	17	garch	garch	NOUN
dem-1080	125	18	)	)	PUNCT
dem-1080	125	19	effects	effect	NOUN
dem-1080	125	20	(	(	PUNCT
dem-1080	125	21	greene	greene	PROPN
dem-1080	125	22	,	,	PUNCT
dem-1080	125	23	2002	2002	NUM
dem-1080	125	24	,	,	PUNCT
dem-1080	125	25	p.	p.	NOUN
dem-1080	125	26	244	244	NUM
dem-1080	125	27	)	)	PUNCT
dem-1080	125	28	.	.	PUNCT
dem-1080	126	1	2	2	X
dem-1080	126	2	.	.	X
dem-1080	126	3	empirical	empirical	ADJ
dem-1080	126	4	results	result	NOUN
dem-1080	126	5	2.1	2.1	NUM
dem-1080	126	6	.	.	PUNCT
dem-1080	127	1	the	the	DET
dem-1080	127	2	fisher	fisher	PROPN
dem-1080	127	3	’s	’s	PART
dem-1080	127	4	effect	effect	NOUN
dem-1080	127	5	on	on	ADP
dem-1080	127	6	the	the	DET
dem-1080	127	7	warsaw	warsaw	PROPN
dem-1080	127	8	stock	stock	PROPN
dem-1080	127	9	exchange	exchange	PROPN
dem-1080	127	10	the	the	DET
dem-1080	127	11	fisher	fisher	PROPN
dem-1080	127	12	’s	’s	PART
dem-1080	127	13	effect	effect	NOUN
dem-1080	127	14	on	on	ADP
dem-1080	127	15	the	the	DET
dem-1080	127	16	warsaw	warsaw	PROPN
dem-1080	127	17	stock	stock	PROPN
dem-1080	127	18	exchange	exchange	PROPN
dem-1080	127	19	has	have	AUX
dem-1080	127	20	been	be	AUX
dem-1080	127	21	detected	detect	VERB
dem-1080	127	22	by	by	ADP
dem-1080	127	23	olbryś	olbryś	ADJ
dem-1080	127	24	(	(	PUNCT
dem-1080	127	25	2011b	2011b	NUM
dem-1080	127	26	)	)	PUNCT
dem-1080	127	27	.	.	PUNCT
dem-1080	128	1	the	the	DET
dem-1080	128	2	empirical	empirical	ADJ
dem-1080	128	3	results	result	NOUN
dem-1080	128	4	show	show	VERB
dem-1080	128	5	a	a	DET
dem-1080	128	6	pronounced	pronounce	VERB
dem-1080	128	7	fisher	fisher	PROPN
dem-1080	128	8	’s	’s	PART
dem-1080	128	9	effect	effect	NOUN
dem-1080	128	10	in	in	ADP
dem-1080	128	11	the	the	DET
dem-1080	128	12	case	case	NOUN
dem-1080	128	13	of	of	ADP
dem-1080	128	14	the	the	DET
dem-1080	128	15	wig	wig	NOUN
dem-1080	128	16	,	,	PUNCT
dem-1080	128	17	mwig40	mwig40	NOUN
dem-1080	128	18	and	and	CCONJ
dem-1080	128	19	swig80	swig80	NOUN
dem-1080	128	20	series	series	NOUN
dem-1080	128	21	.	.	PUNCT
dem-1080	129	1	we	we	PRON
dem-1080	129	2	observe	observe	VERB
dem-1080	129	3	the	the	DET
dem-1080	129	4	most	most	ADV
dem-1080	129	5	clear	clear	ADJ
dem-1080	129	6	effect	effect	NOUN
dem-1080	129	7	for	for	ADP
dem-1080	129	8	the	the	DET
dem-1080	129	9	swig80	swig80	NOUN
dem-1080	129	10	series	series	NOUN
dem-1080	129	11	.	.	PUNCT
dem-1080	130	1	we	we	PRON
dem-1080	130	2	have	have	VERB
dem-1080	130	3	no	no	DET
dem-1080	130	4	reason	reason	NOUN
dem-1080	130	5	to	to	PART
dem-1080	130	6	reject	reject	VERB
dem-1080	130	7	the	the	DET
dem-1080	130	8	null	null	ADJ
dem-1080	130	9	hypothesis	hypothesis	NOUN
dem-1080	130	10	(	(	PUNCT
dem-1080	130	11	1	1	NUM
dem-1080	130	12	)	)	PUNCT
dem-1080	130	13	only	only	ADV
dem-1080	130	14	in	in	ADP
dem-1080	130	15	the	the	DET
dem-1080	130	16	case	case	NOUN
dem-1080	130	17	of	of	ADP
dem-1080	130	18	the	the	DET
dem-1080	130	19	wig20	wig20	PROPN
dem-1080	130	20	series	series	NOUN
dem-1080	130	21	.	.	PUNCT
dem-1080	131	1	as	as	SCONJ
dem-1080	131	2	mentioned	mention	VERB
dem-1080	131	3	above	above	ADV
dem-1080	131	4	,	,	PUNCT
dem-1080	131	5	this	this	DET
dem-1080	131	6	evidence	evidence	NOUN
dem-1080	131	7	is	be	AUX
dem-1080	131	8	consistent	consistent	ADJ
dem-1080	131	9	with	with	ADP
dem-1080	131	10	most	most	ADJ
dem-1080	131	11	of	of	ADP
dem-1080	131	12	the	the	DET
dem-1080	131	13	literature	literature	NOUN
dem-1080	131	14	on	on	ADP
dem-1080	131	15	friction	friction	NOUN
dem-1080	131	16	in	in	ADP
dem-1080	131	17	the	the	DET
dem-1080	131	18	trading	trading	NOUN
dem-1080	131	19	process	process	NOUN
dem-1080	131	20	because	because	SCONJ
dem-1080	131	21	the	the	DET
dem-1080	131	22	observed	observe	VERB
dem-1080	131	23	correlation	correlation	NOUN
dem-1080	131	24	is	be	AUX
dem-1080	131	25	higher	high	ADJ
dem-1080	131	26	in	in	ADP
dem-1080	131	27	those	those	DET
dem-1080	131	28	indexes	index	NOUN
dem-1080	131	29	that	that	PRON
dem-1080	131	30	give	give	VERB
dem-1080	131	31	greater	great	ADJ
dem-1080	131	32	weight	weight	NOUN
dem-1080	131	33	to	to	ADP
dem-1080	131	34	the	the	DET
dem-1080	131	35	securities	security	NOUN
dem-1080	131	36	of	of	ADP
dem-1080	131	37	smaller	small	ADJ
dem-1080	131	38	firms	firm	NOUN
dem-1080	131	39	.	.	PUNCT
dem-1080	132	1	for	for	ADP
dem-1080	132	2	the	the	DET
dem-1080	132	3	fisher	fisher	PROPN
dem-1080	132	4	’s	’s	PART
dem-1080	132	5	effect	effect	NOUN
dem-1080	132	6	reason	reason	NOUN
dem-1080	132	7	,	,	PUNCT
dem-1080	132	8	we	we	PRON
dem-1080	132	9	can	can	AUX
dem-1080	132	10	use	use	VERB
dem-1080	132	11	dimson	dimson	NOUN
dem-1080	132	12	’s	’s	PART
dem-1080	132	13	(	(	PUNCT
dem-1080	132	14	1979	1979	NUM
dem-1080	132	15	)	)	PUNCT
dem-1080	132	16	correction	correction	NOUN
dem-1080	132	17	and	and	CCONJ
dem-1080	132	18	include	include	VERB
dem-1080	132	19	lagged	lag	VERB
dem-1080	132	20	values	value	NOUN
dem-1080	132	21	of	of	ADP
dem-1080	132	22	the	the	DET
dem-1080	132	23	market	market	NOUN
dem-1080	132	24	factor	factor	NOUN
dem-1080	132	25	(	(	PUNCT
dem-1080	132	26	i.e.	i.e.	X
dem-1080	132	27	the	the	DET
dem-1080	132	28	main	main	ADJ
dem-1080	132	29	index	index	NOUN
dem-1080	132	30	of	of	ADP
dem-1080	132	31	wse	wse	ADJ
dem-1080	132	32	companies	company	NOUN
dem-1080	132	33	–	–	PUNCT
dem-1080	132	34	wig	wig	NOUN
dem-1080	132	35	)	)	PUNCT
dem-1080	132	36	as	as	ADP
dem-1080	132	37	an	an	DET
dem-1080	132	38	additional	additional	ADJ
dem-1080	132	39	independent	independent	ADJ
dem-1080	132	40	variable	variable	NOUN
dem-1080	132	41	in	in	ADP
dem-1080	132	42	the	the	DET
dem-1080	132	43	regressions	regression	NOUN
dem-1080	132	44	of	of	ADP
dem-1080	132	45	market	market	NOUN
dem-1080	132	46	-	-	PUNCT
dem-1080	132	47	timing	timing	NOUN
dem-1080	132	48	models	model	NOUN
dem-1080	132	49	of	of	ADP
dem-1080	132	50	polish	polish	ADJ
dem-1080	132	51	equity	equity	NOUN
dem-1080	132	52	open	open	ADJ
dem-1080	132	53	-	-	PUNCT
dem-1080	132	54	end	end	NOUN
dem-1080	132	55	mutual	mutual	ADJ
dem-1080	132	56	funds	fund	NOUN
dem-1080	132	57	to	to	PART
dem-1080	132	58	accommodate	accommodate	VERB
dem-1080	132	59	infrequent	infrequent	ADJ
dem-1080	132	60	trading	trading	NOUN
dem-1080	132	61	(	(	PUNCT
dem-1080	132	62	olbryś	olbryś	ADJ
dem-1080	132	63	,	,	PUNCT
dem-1080	132	64	2011a	2011a	NUM
dem-1080	132	65	)	)	PUNCT
dem-1080	132	66	.	.	PUNCT
dem-1080	133	1	2.2	2.2	NUM
dem-1080	133	2	.	.	PUNCT
dem-1080	133	3	data	datum	NOUN
dem-1080	133	4	the	the	DET
dem-1080	133	5	period	period	NOUN
dem-1080	133	6	investigated	investigate	VERB
dem-1080	133	7	is	be	AUX
dem-1080	133	8	january	january	PROPN
dem-1080	133	9	2	2	NUM
dem-1080	133	10	,	,	PUNCT
dem-1080	133	11	2003	2003	NUM
dem-1080	133	12	–	–	PUNCT
dem-1080	133	13	june	june	PROPN
dem-1080	133	14	30	30	NUM
dem-1080	133	15	,	,	PUNCT
dem-1080	133	16	2011	2011	NUM
dem-1080	133	17	(	(	PUNCT
dem-1080	133	18	t=2137	t=2137	NOUN
dem-1080	133	19	observations	observation	NOUN
dem-1080	133	20	)	)	PUNCT
dem-1080	133	21	.	.	PUNCT
dem-1080	134	1	to	to	PART
dem-1080	134	2	detect	detect	VERB
dem-1080	134	3	for	for	ADP
dem-1080	134	4	the	the	DET
dem-1080	134	5	arch	arch	ADJ
dem-1080	134	6	effect	effect	NOUN
dem-1080	134	7	in	in	ADP
dem-1080	134	8	market	market	NOUN
dem-1080	134	9	-	-	PUNCT
dem-1080	134	10	timing	timing	NOUN
dem-1080	134	11	models	model	NOUN
dem-1080	134	12	of	of	ADP
dem-1080	134	13	polish	polish	PROPN
dem-1080	134	14	joanna	joanna	PROPN
dem-1080	134	15	olbryś	olbryś	ADJ
dem-1080	134	16	192	192	NUM
dem-1080	134	17	funds	fund	NOUN
dem-1080	134	18	in	in	ADP
dem-1080	134	19	subsamples	subsample	NOUN
dem-1080	134	20	of	of	ADP
dem-1080	134	21	various	various	ADJ
dem-1080	134	22	length	length	NOUN
dem-1080	134	23	,	,	PUNCT
dem-1080	134	24	the	the	DET
dem-1080	134	25	entire	entire	ADJ
dem-1080	134	26	sample	sample	NOUN
dem-1080	134	27	has	have	AUX
dem-1080	134	28	been	be	AUX
dem-1080	134	29	divided	divide	VERB
dem-1080	134	30	into	into	ADP
dem-1080	134	31	eight	eight	NUM
dem-1080	134	32	subsamples	subsample	NOUN
dem-1080	134	33	:	:	PUNCT
dem-1080	134	34	p1	p1	NOUN
dem-1080	134	35	,	,	PUNCT
dem-1080	134	36	p2	p2	NOUN
dem-1080	134	37	,	,	PUNCT
dem-1080	134	38	p3	p3	NOUN
dem-1080	134	39	,	,	PUNCT
dem-1080	134	40	p4	p4	ADJ
dem-1080	134	41	,	,	PUNCT
dem-1080	134	42	p5	p5	ADJ
dem-1080	134	43	,	,	PUNCT
dem-1080	134	44	p6	p6	PROPN
dem-1080	134	45	,	,	PUNCT
dem-1080	134	46	p7	p7	ADJ
dem-1080	134	47	,	,	PUNCT
dem-1080	134	48	p8	p8	ADJ
dem-1080	134	49	(	(	PUNCT
dem-1080	134	50	table	table	NOUN
dem-1080	134	51	1	1	NUM
dem-1080	134	52	)	)	PUNCT
dem-1080	134	53	.	.	PUNCT
dem-1080	135	1	table	table	NOUN
dem-1080	135	2	1	1	NUM
dem-1080	135	3	.	.	PUNCT
dem-1080	136	1	subsamples	subsample	NOUN
dem-1080	136	2	in	in	ADP
dem-1080	136	3	the	the	DET
dem-1080	136	4	period	period	NOUN
dem-1080	136	5	from	from	ADP
dem-1080	136	6	jan	jan	PROPN
dem-1080	136	7	2	2	NUM
dem-1080	136	8	,	,	PUNCT
dem-1080	136	9	2003	2003	NUM
dem-1080	136	10	to	to	ADP
dem-1080	136	11	june	june	PROPN
dem-1080	136	12	30	30	NUM
dem-1080	136	13	,	,	PUNCT
dem-1080	136	14	2011	2011	NUM
dem-1080	136	15	subsample	subsample	NOUN
dem-1080	136	16	t	t	PROPN
dem-1080	136	17	p1	p1	PROPN
dem-1080	136	18	jan	jan	PROPN
dem-1080	136	19	2	2	NUM
dem-1080	136	20	,	,	PUNCT
dem-1080	136	21	2003	2003	NUM
dem-1080	136	22	–	–	PUNCT
dem-1080	136	23	june	june	PROPN
dem-1080	136	24	30	30	NUM
dem-1080	136	25	,	,	PUNCT
dem-1080	136	26	2011	2011	NUM
dem-1080	136	27	2137	2137	NUM
dem-1080	136	28	p2	p2	NOUN
dem-1080	136	29	jan	jan	PROPN
dem-1080	136	30	2	2	NUM
dem-1080	136	31	,	,	PUNCT
dem-1080	136	32	2004	2004	NUM
dem-1080	136	33	–	–	PUNCT
dem-1080	136	34	june	june	PROPN
dem-1080	136	35	30	30	NUM
dem-1080	136	36	,	,	PUNCT
dem-1080	136	37	2011	2011	NUM
dem-1080	136	38	1886	1886	NUM
dem-1080	136	39	p3	p3	PROPN
dem-1080	136	40	jan	jan	PROPN
dem-1080	136	41	3	3	NUM
dem-1080	136	42	,	,	PUNCT
dem-1080	136	43	2005	2005	NUM
dem-1080	136	44	–	–	PUNCT
dem-1080	136	45	june	june	PROPN
dem-1080	136	46	30	30	NUM
dem-1080	136	47	,	,	PUNCT
dem-1080	136	48	2011	2011	NUM
dem-1080	136	49	1631	1631	NUM
dem-1080	136	50	p4	p4	PROPN
dem-1080	136	51	jan	jan	PROPN
dem-1080	136	52	2	2	NUM
dem-1080	136	53	,	,	PUNCT
dem-1080	136	54	2006	2006	NUM
dem-1080	136	55	–	–	PUNCT
dem-1080	136	56	june	june	PROPN
dem-1080	136	57	30	30	NUM
dem-1080	136	58	,	,	PUNCT
dem-1080	136	59	2011	2011	NUM
dem-1080	136	60	1380	1380	NUM
dem-1080	136	61	p5	p5	PROPN
dem-1080	136	62	jan	jan	PROPN
dem-1080	136	63	2	2	NUM
dem-1080	136	64	,	,	PUNCT
dem-1080	136	65	2007	2007	NUM
dem-1080	136	66	–	–	PUNCT
dem-1080	136	67	june	june	PROPN
dem-1080	136	68	30	30	NUM
dem-1080	136	69	,	,	PUNCT
dem-1080	136	70	2011	2011	NUM
dem-1080	136	71	1129	1129	NUM
dem-1080	136	72	p6	p6	PROPN
dem-1080	136	73	jan	jan	PROPN
dem-1080	136	74	2	2	NUM
dem-1080	136	75	,	,	PUNCT
dem-1080	136	76	2008	2008	NUM
dem-1080	136	77	–	–	PUNCT
dem-1080	136	78	june	june	PROPN
dem-1080	136	79	30	30	NUM
dem-1080	136	80	,	,	PUNCT
dem-1080	136	81	2011	2011	NUM
dem-1080	136	82	880	880	NUM
dem-1080	136	83	p7	p7	NOUN
dem-1080	136	84	jan	jan	PROPN
dem-1080	136	85	5	5	NUM
dem-1080	136	86	,	,	PUNCT
dem-1080	136	87	2009	2009	NUM
dem-1080	136	88	–	–	PUNCT
dem-1080	136	89	june	june	PROPN
dem-1080	136	90	30	30	NUM
dem-1080	136	91	,	,	PUNCT
dem-1080	136	92	2011	2011	NUM
dem-1080	136	93	629	629	NUM
dem-1080	136	94	p8	p8	PROPN
dem-1080	136	95	jan	jan	PROPN
dem-1080	136	96	4	4	NUM
dem-1080	136	97	,	,	PUNCT
dem-1080	136	98	2010	2010	NUM
dem-1080	136	99	–	–	PUNCT
dem-1080	136	100	june	june	PROPN
dem-1080	136	101	30	30	NUM
dem-1080	136	102	,	,	PUNCT
dem-1080	136	103	2011	2011	NUM
dem-1080	136	104	377	377	NUM
dem-1080	136	105	note	note	NOUN
dem-1080	136	106	:	:	PUNCT
dem-1080	136	107	t	t	PROPN
dem-1080	136	108	is	be	AUX
dem-1080	136	109	the	the	DET
dem-1080	136	110	number	number	NOUN
dem-1080	136	111	of	of	ADP
dem-1080	136	112	data	datum	NOUN
dem-1080	136	113	points	point	NOUN
dem-1080	136	114	.	.	PUNCT
dem-1080	137	1	table	table	NOUN
dem-1080	137	2	2	2	NUM
dem-1080	137	3	.	.	X
dem-1080	137	4	equity	equity	NOUN
dem-1080	137	5	open	open	ADJ
dem-1080	137	6	-	-	PUNCT
dem-1080	137	7	end	end	NOUN
dem-1080	137	8	mutual	mutual	ADJ
dem-1080	137	9	funds	fund	NOUN
dem-1080	137	10	in	in	ADP
dem-1080	137	11	poland	poland	PROPN
dem-1080	137	12	by	by	ADP
dem-1080	137	13	the	the	DET
dem-1080	137	14	end	end	NOUN
dem-1080	137	15	of	of	ADP
dem-1080	137	16	2002	2002	NUM
dem-1080	137	17	equity	equity	NOUN
dem-1080	137	18	fund	fund	NOUN
dem-1080	137	19	(	(	PUNCT
dem-1080	137	20	current	current	ADJ
dem-1080	137	21	name	name	NOUN
dem-1080	137	22	)	)	PUNCT
dem-1080	137	23	short	short	ADJ
dem-1080	137	24	name	name	NOUN
dem-1080	137	25	year	year	NOUN
dem-1080	137	26	of	of	ADP
dem-1080	137	27	creation	creation	NOUN
dem-1080	137	28	1	1	NUM
dem-1080	137	29	arka	arka	PROPN
dem-1080	137	30	bz	bz	PROPN
dem-1080	137	31	wbk	wbk	VERB
dem-1080	137	32	fio	fio	PROPN
dem-1080	137	33	subfundusz	subfundusz	PROPN
dem-1080	137	34	arka	arka	PROPN
dem-1080	137	35	akcji	akcji	PROPN
dem-1080	137	36	arka	arka	PROPN
dem-1080	137	37	1998	1998	NUM
dem-1080	137	38	2	2	NUM
dem-1080	137	39	aviva	aviva	NOUN
dem-1080	137	40	investors	investor	NOUN
dem-1080	137	41	fio	fio	PROPN
dem-1080	137	42	subfundusz	subfundusz	PROPN
dem-1080	137	43	aviva	aviva	PROPN
dem-1080	137	44	investors	investor	NOUN
dem-1080	137	45	polskich	polskich	VERB
dem-1080	137	46	akcji	akcji	ADJ
dem-1080	137	47	aviva	aviva	NOUN
dem-1080	137	48	2002	2002	NUM
dem-1080	137	49	3	3	NUM
dem-1080	137	50	bph	bph	NOUN
dem-1080	137	51	fio	fio	NOUN
dem-1080	137	52	parasolowy	parasolowy	PROPN
dem-1080	137	53	bph	bph	PROPN
dem-1080	137	54	subfundusz	subfundusz	PROPN
dem-1080	137	55	akcji	akcji	ADJ
dem-1080	137	56	bph	bph	NOUN
dem-1080	137	57	1999	1999	NUM
dem-1080	137	58	4	4	NUM
dem-1080	137	59	ing	ing	ADJ
dem-1080	137	60	parasol	parasol	NOUN
dem-1080	137	61	fio	fio	NOUN
dem-1080	137	62	ing	ing	PROPN
dem-1080	137	63	subfundusz	subfundusz	NOUN
dem-1080	137	64	akcji	akcji	ADV
dem-1080	137	65	ing	ing	ADJ
dem-1080	137	66	1998	1998	NUM
dem-1080	137	67	5	5	NUM
dem-1080	137	68	investor	investor	NOUN
dem-1080	137	69	top	top	ADJ
dem-1080	137	70	25	25	NUM
dem-1080	137	71	małych	małych	PROPN
dem-1080	137	72	spółek	spółek	PROPN
dem-1080	137	73	fio	fio	PROPN
dem-1080	137	74	investor	investor	NOUN
dem-1080	137	75	25	25	NUM
dem-1080	137	76	2002	2002	NUM
dem-1080	137	77	6	6	NUM
dem-1080	137	78	investor	investor	NOUN
dem-1080	137	79	akcji	akcji	ADJ
dem-1080	137	80	dużych	dużych	NOUN
dem-1080	137	81	spółek	spółek	PROPN
dem-1080	137	82	fio	fio	PROPN
dem-1080	137	83	investor	investor	NOUN
dem-1080	137	84	ads	ad	NOUN
dem-1080	137	85	1998	1998	NUM
dem-1080	137	86	7	7	NUM
dem-1080	137	87	investor	investor	NOUN
dem-1080	137	88	akcji	akcji	ADJ
dem-1080	137	89	fio	fio	PROPN
dem-1080	137	90	investor	investor	NOUN
dem-1080	137	91	1998	1998	NUM
dem-1080	137	92	8	8	NUM
dem-1080	137	93	legg	legg	PROPN
dem-1080	137	94	mason	mason	PROPN
dem-1080	137	95	akcji	akcji	PROPN
dem-1080	137	96	fio	fio	PROPN
dem-1080	137	97	legg	legg	PROPN
dem-1080	137	98	mason	mason	PROPN
dem-1080	137	99	1999	1999	NUM
dem-1080	137	100	9	9	NUM
dem-1080	137	101	millennium	millennium	NOUN
dem-1080	137	102	fio	fio	NOUN
dem-1080	137	103	subfundusz	subfundusz	PROPN
dem-1080	137	104	akcji	akcji	ADJ
dem-1080	137	105	millennium	millennium	NOUN
dem-1080	137	106	2002	2002	NUM
dem-1080	137	107	10	10	NUM
dem-1080	137	108	novo	novo	PROPN
dem-1080	137	109	fio	fio	PROPN
dem-1080	137	110	subfundusz	subfundusz	PROPN
dem-1080	137	111	novo	novo	PROPN
dem-1080	137	112	akcji	akcji	ADJ
dem-1080	137	113	novo	novo	PROPN
dem-1080	137	114	1998	1998	NUM
dem-1080	137	115	11	11	NUM
dem-1080	137	116	pioneer	pioneer	NOUN
dem-1080	137	117	fio	fio	PROPN
dem-1080	137	118	subfundusz	subfundusz	PROPN
dem-1080	137	119	pioneer	pioneer	PROPN
dem-1080	137	120	akcji	akcji	PROPN
dem-1080	137	121	polskich	polskich	PROPN
dem-1080	137	122	pioneer	pioneer	PROPN
dem-1080	137	123	1995	1995	NUM
dem-1080	137	124	12	12	NUM
dem-1080	137	125	pko	pko	NOUN
dem-1080	137	126	akcji	akcji	ADV
dem-1080	137	127	–	–	PUNCT
dem-1080	137	128	fio	fio	PROPN
dem-1080	137	129	pko	pko	PROPN
dem-1080	137	130	1998	1998	NUM
dem-1080	137	131	13	13	NUM
dem-1080	137	132	pzu	pzu	PROPN
dem-1080	137	133	fio	fio	PROPN
dem-1080	137	134	parasolowy	parasolowy	PROPN
dem-1080	137	135	subfundusz	subfundusz	PROPN
dem-1080	137	136	pzu	pzu	VERB
dem-1080	137	137	akcji	akcji	PROPN
dem-1080	137	138	krakowiak	krakowiak	PROPN
dem-1080	137	139	pzu	pzu	PROPN
dem-1080	137	140	1999	1999	NUM
dem-1080	137	141	14	14	NUM
dem-1080	137	142	skarbiec	skarbiec	NOUN
dem-1080	137	143	fio	fio	PROPN
dem-1080	137	144	subfundusz	subfundusz	PROPN
dem-1080	137	145	akcji	akcji	ADJ
dem-1080	137	146	skarbiec	skarbiec	NOUN
dem-1080	137	147	–	–	PUNCT
dem-1080	137	148	akcji	akcji	ADJ
dem-1080	137	149	skarbiec	skarbiec	NOUN
dem-1080	137	150	1998	1998	NUM
dem-1080	137	151	15	15	NUM
dem-1080	137	152	unifundusze	unifundusze	ADJ
dem-1080	137	153	fio	fio	PROPN
dem-1080	137	154	subfundusz	subfundusz	PROPN
dem-1080	137	155	unikorona	unikorona	PROPN
dem-1080	137	156	akcje	akcje	PROPN
dem-1080	137	157	unikorona	unikorona	PROPN
dem-1080	137	158	1997	1997	NUM
dem-1080	137	159	note	note	NOUN
dem-1080	137	160	:	:	PUNCT
dem-1080	137	161	the	the	DET
dem-1080	137	162	source	source	NOUN
dem-1080	137	163	of	of	ADP
dem-1080	137	164	this	this	DET
dem-1080	137	165	table	table	NOUN
dem-1080	137	166	is	be	AUX
dem-1080	137	167	the	the	DET
dem-1080	137	168	polish	polish	ADJ
dem-1080	137	169	financial	financial	PROPN
dem-1080	137	170	supervision	supervision	PROPN
dem-1080	137	171	authority	authority	PROPN
dem-1080	137	172	http://www.knf.gov.pl	http://www.knf.gov.pl	PROPN
dem-1080	137	173	(	(	PUNCT
dem-1080	137	174	sept	sept	PROPN
dem-1080	137	175	8	8	NUM
dem-1080	137	176	,	,	PUNCT
dem-1080	137	177	2011	2011	NUM
dem-1080	137	178	)	)	PUNCT
dem-1080	137	179	.	.	PUNCT
dem-1080	138	1	we	we	PRON
dem-1080	138	2	have	have	AUX
dem-1080	138	3	examined	examine	VERB
dem-1080	138	4	the	the	DET
dem-1080	138	5	performance	performance	NOUN
dem-1080	138	6	of	of	ADP
dem-1080	138	7	15	15	NUM
dem-1080	138	8	selected	select	VERB
dem-1080	138	9	equity	equity	NOUN
dem-1080	138	10	open	open	ADJ
dem-1080	138	11	-	-	PUNCT
dem-1080	138	12	end	end	NOUN
dem-1080	138	13	polish	polish	ADJ
dem-1080	138	14	mutual	mutual	ADJ
dem-1080	138	15	funds	fund	NOUN
dem-1080	138	16	which	which	PRON
dem-1080	138	17	were	be	AUX
dem-1080	138	18	created	create	VERB
dem-1080	138	19	up	up	ADP
dem-1080	138	20	to	to	ADP
dem-1080	138	21	the	the	DET
dem-1080	138	22	end	end	NOUN
dem-1080	138	23	of	of	ADP
dem-1080	138	24	2002	2002	NUM
dem-1080	138	25	.	.	PUNCT
dem-1080	139	1	our	our	PRON
dem-1080	139	2	dataset	dataset	NOUN
dem-1080	139	3	includes	include	VERB
dem-1080	139	4	returns	return	NOUN
dem-1080	139	5	on	on	ADP
dem-1080	139	6	all	all	DET
dem-1080	139	7	the	the	DET
dem-1080	139	8	equity	equity	NOUN
dem-1080	139	9	funds	fund	NOUN
dem-1080	139	10	in	in	ADP
dem-1080	139	11	existence	existence	NOUN
dem-1080	139	12	in	in	ADP
dem-1080	139	13	poland	poland	PROPN
dem-1080	139	14	from	from	ADP
dem-1080	139	15	2002	2002	NUM
dem-1080	139	16	to	to	ADP
dem-1080	139	17	2011	2011	NUM
dem-1080	139	18	,	,	PUNCT
dem-1080	139	19	therefore	therefore	ADV
dem-1080	139	20	our	our	PRON
dem-1080	139	21	results	result	NOUN
dem-1080	139	22	are	be	AUX
dem-1080	139	23	free	free	ADJ
dem-1080	139	24	of	of	ADP
dem-1080	139	25	survivorship	survivorship	NOUN
dem-1080	139	26	bias	bias	NOUN
dem-1080	139	27	(	(	PUNCT
dem-1080	139	28	table	table	NOUN
dem-1080	139	29	2	2	NUM
dem-1080	139	30	)	)	PUNCT
dem-1080	139	31	.	.	PUNCT
dem-1080	140	1	we	we	PRON
dem-1080	140	2	have	have	AUX
dem-1080	140	3	studied	study	VERB
dem-1080	140	4	daily	daily	ADJ
dem-1080	140	5	logarithmic	logarithmic	ADJ
dem-1080	140	6	excess	excess	ADJ
dem-1080	140	7	returns	return	NOUN
dem-1080	140	8	from	from	ADP
dem-1080	140	9	jan	jan	PROPN
dem-1080	140	10	2003	2003	NUM
dem-1080	140	11	to	to	ADP
dem-1080	140	12	june	june	PROPN
dem-1080	140	13	2011	2011	NUM
dem-1080	140	14	.	.	PUNCT
dem-1080	141	1	daily	daily	ADJ
dem-1080	141	2	returns	return	NOUN
dem-1080	141	3	on	on	ADP
dem-1080	141	4	the	the	DET
dem-1080	141	5	main	main	ADJ
dem-1080	141	6	index	index	NOUN
dem-1080	141	7	of	of	ADP
dem-1080	141	8	wse	wse	ADJ
dem-1080	141	9	companies	company	NOUN
dem-1080	141	10	are	be	AUX
dem-1080	141	11	used	use	VERB
dem-1080	141	12	as	as	ADP
dem-1080	141	13	the	the	DET
dem-1080	141	14	returns	return	NOUN
dem-1080	141	15	on	on	ADP
dem-1080	141	16	the	the	DET
dem-1080	141	17	market	market	NOUN
dem-1080	141	18	portfolio	portfolio	NOUN
dem-1080	141	19	.	.	PUNCT
dem-1080	142	1	the	the	DET
dem-1080	142	2	daily	daily	ADJ
dem-1080	142	3	average	average	NOUN
dem-1080	142	4	of	of	ADP
dem-1080	142	5	returns	return	NOUN
dem-1080	142	6	on	on	ADP
dem-1080	142	7	52	52	NUM
dem-1080	142	8	-	-	PUNCT
dem-1080	142	9	week	week	NOUN
dem-1080	142	10	treasury	treasury	NOUN
dem-1080	142	11	bills	bill	NOUN
dem-1080	142	12	are	be	AUX
dem-1080	142	13	used	use	VERB
dem-1080	142	14	as	as	ADP
dem-1080	142	15	the	the	DET
dem-1080	142	16	returns	return	NOUN
dem-1080	142	17	on	on	ADP
dem-1080	142	18	riskless	riskless	NOUN
dem-1080	142	19	assets	asset	NOUN
dem-1080	142	20	.	.	PUNCT
dem-1080	143	1	all	all	DET
dem-1080	143	2	calculations	calculation	NOUN
dem-1080	143	3	were	be	AUX
dem-1080	143	4	done	do	VERB
dem-1080	143	5	using	use	VERB
dem-1080	143	6	gretl	gretl	ADJ
dem-1080	143	7	1.9.5	1.9.5	NUM
dem-1080	143	8	.	.	PROPN
dem-1080	144	1	2.3	2.3	NUM
dem-1080	144	2	.	.	PUNCT
dem-1080	145	1	arch	arch	ADJ
dem-1080	145	2	effect	effect	NOUN
dem-1080	145	3	in	in	ADP
dem-1080	145	4	market	market	NOUN
dem-1080	145	5	-	-	PUNCT
dem-1080	145	6	timing	timing	NOUN
dem-1080	145	7	models	model	NOUN
dem-1080	145	8	with	with	ADP
dem-1080	145	9	lagged	lag	VERB
dem-1080	145	10	market	market	NOUN
dem-1080	145	11	variable	variable	ADJ
dem-1080	145	12	volatility	volatility	NOUN
dem-1080	145	13	clustering	clustering	NOUN
dem-1080	145	14	,	,	PUNCT
dem-1080	145	15	which	which	PRON
dem-1080	145	16	is	be	AUX
dem-1080	145	17	a	a	DET
dem-1080	145	18	common	common	ADJ
dem-1080	145	19	cause	cause	NOUN
dem-1080	145	20	of	of	ADP
dem-1080	145	21	heteroskedasticity	heteroskedasticity	NOUN
dem-1080	145	22	,	,	PUNCT
dem-1080	145	23	is	be	AUX
dem-1080	145	24	more	more	ADV
dem-1080	145	25	likely	likely	ADJ
dem-1080	145	26	to	to	PART
dem-1080	145	27	be	be	AUX
dem-1080	145	28	present	present	ADJ
dem-1080	145	29	in	in	ADP
dem-1080	145	30	financial	financial	ADJ
dem-1080	145	31	models	model	NOUN
dem-1080	145	32	built	build	VERB
dem-1080	145	33	using	use	VERB
dem-1080	145	34	higher	high	ADJ
dem-1080	145	35	-	-	PUNCT
dem-1080	145	36	frequency	frequency	NOUN
dem-1080	145	37	data	datum	NOUN
dem-1080	145	38	,	,	PUNCT
dem-1080	145	39	such	such	ADJ
dem-1080	145	40	as	as	ADP
dem-1080	145	41	daily	daily	ADJ
dem-1080	145	42	data	datum	NOUN
dem-1080	145	43	(	(	PUNCT
dem-1080	145	44	brzeszczyński	brzeszczyński	PROPN
dem-1080	145	45	et	et	PROPN
dem-1080	145	46	al	al	PROPN
dem-1080	145	47	.	.	PROPN
dem-1080	145	48	,	,	PUNCT
dem-1080	145	49	2011	2011	NUM
dem-1080	145	50	)	)	PUNCT
dem-1080	145	51	.	.	PUNCT
dem-1080	146	1	to	to	PART
dem-1080	146	2	detect	detect	VERB
dem-1080	146	3	for	for	ADP
dem-1080	146	4	the	the	DET
dem-1080	146	5	arch	arch	ADJ
dem-1080	146	6	effect	effect	NOUN
dem-1080	146	7	in	in	ADP
dem-1080	146	8	arch	arch	ADJ
dem-1080	146	9	effect	effect	NOUN
dem-1080	146	10	in	in	ADP
dem-1080	146	11	classical	classical	ADJ
dem-1080	146	12	market	market	NOUN
dem-1080	146	13	-	-	PUNCT
dem-1080	146	14	timing	timing	NOUN
dem-1080	146	15	models	model	NOUN
dem-1080	146	16	with	with	ADP
dem-1080	146	17	lagged	lag	VERB
dem-1080	146	18	market	market	NOUN
dem-1080	146	19	variable	variable	NOUN
dem-1080	146	20	…	…	SYM
dem-1080	146	21	193	193	NUM
dem-1080	146	22	market	market	NOUN
dem-1080	146	23	-	-	PUNCT
dem-1080	146	24	timing	timing	NOUN
dem-1080	146	25	models	model	NOUN
dem-1080	146	26	of	of	ADP
dem-1080	146	27	polish	polish	ADJ
dem-1080	146	28	equity	equity	NOUN
dem-1080	146	29	open	open	ADJ
dem-1080	146	30	-	-	PUNCT
dem-1080	146	31	end	end	NOUN
dem-1080	146	32	mutual	mutual	ADJ
dem-1080	146	33	fund	fund	NOUN
dem-1080	146	34	portfolios	portfolio	NOUN
dem-1080	146	35	in	in	ADP
dem-1080	146	36	the	the	DET
dem-1080	146	37	period	period	NOUN
dem-1080	146	38	investigated	investigate	VERB
dem-1080	146	39	jan	jan	PROPN
dem-1080	146	40	2	2	NUM
dem-1080	146	41	,	,	PUNCT
dem-1080	146	42	2003	2003	NUM
dem-1080	146	43	–	–	PUNCT
dem-1080	146	44	june	june	PROPN
dem-1080	146	45	30	30	NUM
dem-1080	146	46	,	,	PUNCT
dem-1080	146	47	2011	2011	NUM
dem-1080	146	48	,	,	PUNCT
dem-1080	146	49	the	the	DET
dem-1080	146	50	lm	lm	X
dem-1080	146	51	(	(	PUNCT
dem-1080	146	52	lagrange	lagrange	PROPN
dem-1080	146	53	multiplier	multiplier	NOUN
dem-1080	146	54	)	)	PUNCT
dem-1080	146	55	and	and	CCONJ
dem-1080	146	56	the	the	DET
dem-1080	146	57	lb	lb	X
dem-1080	146	58	(	(	PUNCT
dem-1080	146	59	ljung	ljung	PROPN
dem-1080	146	60	-	-	PUNCT
dem-1080	146	61	box	box	NOUN
dem-1080	146	62	)	)	PUNCT
dem-1080	146	63	tests	test	NOUN
dem-1080	146	64	have	have	AUX
dem-1080	146	65	been	be	AUX
dem-1080	146	66	applied	apply	VERB
dem-1080	146	67	.	.	PUNCT
dem-1080	147	1	the	the	DET
dem-1080	147	2	empirical	empirical	ADJ
dem-1080	147	3	results	result	NOUN
dem-1080	147	4	presented	present	VERB
dem-1080	147	5	in	in	ADP
dem-1080	147	6	table	table	NOUN
dem-1080	147	7	3	3	NUM
dem-1080	147	8	show	show	VERB
dem-1080	147	9	strong	strong	ADJ
dem-1080	147	10	arch	arch	ADJ
dem-1080	147	11	effect	effect	NOUN
dem-1080	147	12	in	in	ADP
dem-1080	147	13	the	the	DET
dem-1080	147	14	case	case	NOUN
dem-1080	147	15	of	of	ADP
dem-1080	147	16	all	all	PRON
dem-1080	147	17	of	of	ADP
dem-1080	147	18	the	the	DET
dem-1080	147	19	funds	fund	NOUN
dem-1080	147	20	.	.	PUNCT
dem-1080	148	1	the	the	DET
dem-1080	148	2	null	null	ADJ
dem-1080	148	3	hypothesis	hypothesis	NOUN
dem-1080	148	4	(	(	PUNCT
dem-1080	148	5	7	7	X
dem-1080	148	6	)	)	PUNCT
dem-1080	148	7	is	be	AUX
dem-1080	148	8	rejected	reject	VERB
dem-1080	148	9	in	in	ADP
dem-1080	148	10	these	these	DET
dem-1080	148	11	cases	case	NOUN
dem-1080	148	12	.	.	PUNCT
dem-1080	149	1	because	because	SCONJ
dem-1080	149	2	we	we	PRON
dem-1080	149	3	are	be	AUX
dem-1080	149	4	using	use	VERB
dem-1080	149	5	daily	daily	ADJ
dem-1080	149	6	logarithmic	logarithmic	ADJ
dem-1080	149	7	excess	excess	ADJ
dem-1080	149	8	returns	return	NOUN
dem-1080	149	9	on	on	ADP
dem-1080	149	10	fund	fund	NOUN
dem-1080	149	11	portfolios	portfolio	NOUN
dem-1080	149	12	,	,	PUNCT
dem-1080	149	13	the	the	DET
dem-1080	149	14	lm	lm	X
dem-1080	149	15	test	test	NOUN
dem-1080	149	16	at	at	ADP
dem-1080	149	17	the	the	DET
dem-1080	149	18	lag	lag	NOUN
dem-1080	149	19	5q	5q	NUM
dem-1080	149	20	has	have	AUX
dem-1080	149	21	been	be	AUX
dem-1080	149	22	applied	apply	VERB
dem-1080	149	23	.	.	PUNCT
dem-1080	150	1	on	on	ADP
dem-1080	150	2	the	the	DET
dem-1080	150	3	other	other	ADJ
dem-1080	150	4	hand	hand	NOUN
dem-1080	150	5	,	,	PUNCT
dem-1080	150	6	the	the	DET
dem-1080	150	7	lb	lb	NOUN
dem-1080	150	8	test	test	NOUN
dem-1080	150	9	at	at	ADP
dem-1080	150	10	the	the	DET
dem-1080	150	11	lag	lag	NOUN
dem-1080	150	12	8)2137ln	8)2137ln	NUM
dem-1080	150	13	(	(	PUNCT
dem-1080	150	14	q	q	X
dem-1080	150	15	has	have	AUX
dem-1080	150	16	been	be	AUX
dem-1080	150	17	used	use	VERB
dem-1080	150	18	(	(	PUNCT
dem-1080	150	19	tsay	tsay	PROPN
dem-1080	150	20	,	,	PUNCT
dem-1080	150	21	2010	2010	NUM
dem-1080	150	22	)	)	PUNCT
dem-1080	150	23	.	.	PUNCT
dem-1080	151	1	the	the	DET
dem-1080	151	2	p	p	PROPN
dem-1080	151	3	-values	-value	NOUN
dem-1080	151	4	of	of	ADP
dem-1080	151	5	all	all	DET
dem-1080	151	6	statistics	statistic	NOUN
dem-1080	151	7	are	be	AUX
dem-1080	151	8	very	very	ADV
dem-1080	151	9	close	close	ADJ
dem-1080	151	10	to	to	ADP
dem-1080	151	11	zero	zero	NUM
dem-1080	151	12	.	.	PUNCT
dem-1080	151	13	table	table	NOUN
dem-1080	151	14	3	3	NUM
dem-1080	151	15	.	.	PUNCT
dem-1080	152	1	the	the	DET
dem-1080	152	2	arch	arch	ADJ
dem-1080	152	3	effect	effect	NOUN
dem-1080	152	4	in	in	ADP
dem-1080	152	5	market	market	NOUN
dem-1080	152	6	-	-	PUNCT
dem-1080	152	7	timing	timing	NOUN
dem-1080	152	8	models	model	NOUN
dem-1080	152	9	(	(	PUNCT
dem-1080	152	10	2	2	NUM
dem-1080	152	11	)	)	PUNCT
dem-1080	152	12	and	and	CCONJ
dem-1080	152	13	(	(	PUNCT
dem-1080	152	14	3	3	X
dem-1080	152	15	)	)	PUNCT
dem-1080	152	16	of	of	ADP
dem-1080	152	17	polish	polish	ADJ
dem-1080	152	18	equity	equity	NOUN
dem-1080	152	19	mutual	mutual	ADJ
dem-1080	152	20	funds	fund	NOUN
dem-1080	152	21	in	in	ADP
dem-1080	152	22	the	the	DET
dem-1080	152	23	entire	entire	ADJ
dem-1080	152	24	sample	sample	NOUN
dem-1080	152	25	p1	p1	NOUN
dem-1080	152	26	(	(	PUNCT
dem-1080	152	27	period	period	NOUN
dem-1080	152	28	from	from	ADP
dem-1080	152	29	jan	jan	PROPN
dem-1080	152	30	2	2	NUM
dem-1080	152	31	,	,	PUNCT
dem-1080	152	32	2003	2003	NUM
dem-1080	152	33	to	to	ADP
dem-1080	152	34	june	june	PROPN
dem-1080	152	35	30	30	NUM
dem-1080	152	36	,	,	PUNCT
dem-1080	152	37	2011	2011	NUM
dem-1080	152	38	)	)	PUNCT
dem-1080	152	39	equity	equity	NOUN
dem-1080	152	40	fund	fund	NOUN
dem-1080	152	41	(	(	PUNCT
dem-1080	152	42	short	short	ADJ
dem-1080	152	43	name	name	NOUN
dem-1080	152	44	)	)	PUNCT
dem-1080	152	45	t	t	PROPN
dem-1080	152	46	-	-	PUNCT
dem-1080	152	47	m	m	PROPN
dem-1080	152	48	model	model	NOUN
dem-1080	152	49	h	h	PROPN
dem-1080	152	50	-	-	PUNCT
dem-1080	152	51	m	m	PROPN
dem-1080	152	52	model	model	NOUN
dem-1080	152	53	lm	lm	INTJ
dem-1080	152	54	p	p	NOUN
dem-1080	152	55	-	-	PUNCT
dem-1080	152	56	value	value	NOUN
dem-1080	152	57	lb	lb	DET
dem-1080	152	58	p	p	NOUN
dem-1080	152	59	-	-	PUNCT
dem-1080	152	60	value	value	NOUN
dem-1080	152	61	lm	lm	INTJ
dem-1080	152	62	p	p	NOUN
dem-1080	152	63	-	-	PUNCT
dem-1080	152	64	value	value	NOUN
dem-1080	152	65	lb	lb	PRON
dem-1080	152	66	p	p	ADJ
dem-1080	152	67	-	-	PUNCT
dem-1080	152	68	value	value	NOUN
dem-1080	152	69	1	1	NUM
dem-1080	152	70	arka	arka	NOUN
dem-1080	152	71	326.8	326.8	NUM
dem-1080	152	72	110	110	NUM
dem-1080	152	73	-	-	SYM
dem-1080	152	74	68	68	NUM
dem-1080	152	75	157.6	157.6	NUM
dem-1080	152	76	410	410	NUM
dem-1080	152	77	-	-	SYM
dem-1080	152	78	30	30	NUM
dem-1080	152	79	346.9	346.9	NUM
dem-1080	152	80	710	710	NUM
dem-1080	152	81	-	-	SYM
dem-1080	152	82	73	73	NUM
dem-1080	152	83	159.5	159.5	NUM
dem-1080	152	84	210	210	NUM
dem-1080	152	85	-	-	SYM
dem-1080	152	86	30	30	NUM
dem-1080	152	87	2	2	NUM
dem-1080	152	88	aviva	aviva	NOUN
dem-1080	152	89	257.1	257.1	NUM
dem-1080	152	90	110	110	NUM
dem-1080	152	91	-	-	SYM
dem-1080	152	92	53	53	NUM
dem-1080	152	93	299.9	299.9	NUM
dem-1080	152	94	410	410	NUM
dem-1080	152	95	-	-	SYM
dem-1080	152	96	60	60	NUM
dem-1080	152	97	258.3	258.3	NUM
dem-1080	152	98	910	910	NUM
dem-1080	152	99	-	-	SYM
dem-1080	152	100	54	54	NUM
dem-1080	152	101	306.7	306.7	NUM
dem-1080	152	102	110	110	NUM
dem-1080	152	103	-	-	SYM
dem-1080	152	104	61	61	NUM
dem-1080	152	105	3	3	NUM
dem-1080	152	106	bph	bph	NOUN
dem-1080	152	107	424.6	424.6	NUM
dem-1080	152	108	110	110	NUM
dem-1080	152	109	-	-	SYM
dem-1080	152	110	89	89	NUM
dem-1080	152	111	434.2	434.2	NUM
dem-1080	152	112	910	910	NUM
dem-1080	152	113	-	-	SYM
dem-1080	152	114	89	89	NUM
dem-1080	152	115	427.0	427.0	NUM
dem-1080	152	116	410	410	NUM
dem-1080	152	117	-	-	SYM
dem-1080	152	118	90	90	NUM
dem-1080	152	119	436.5	436.5	NUM
dem-1080	152	120	210	210	NUM
dem-1080	152	121	-	-	SYM
dem-1080	152	122	89	89	NUM
dem-1080	152	123	4	4	NUM
dem-1080	152	124	ing	e	VERB
dem-1080	152	125	443.9	443.9	NUM
dem-1080	152	126	110	110	NUM
dem-1080	152	127	-	-	SYM
dem-1080	152	128	93	93	NUM
dem-1080	152	129	442.4	442.4	NUM
dem-1080	152	130	110	110	NUM
dem-1080	152	131	-	-	SYM
dem-1080	152	132	90	90	NUM
dem-1080	152	133	445.2	445.2	NUM
dem-1080	152	134	510	510	NUM
dem-1080	152	135	-	-	SYM
dem-1080	152	136	94	94	NUM
dem-1080	152	137	444.5	444.5	NUM
dem-1080	152	138	510	510	NUM
dem-1080	152	139	-	-	SYM
dem-1080	152	140	91	91	NUM
dem-1080	152	141	5	5	NUM
dem-1080	152	142	investor	investor	NOUN
dem-1080	152	143	25	25	NUM
dem-1080	152	144	404.4	404.4	NUM
dem-1080	152	145	310	310	NUM
dem-1080	152	146	-	-	NUM
dem-1080	152	147	85	85	NUM
dem-1080	152	148	145.1	145.1	NUM
dem-1080	152	149	210	210	NUM
dem-1080	152	150	-	-	SYM
dem-1080	152	151	27	27	NUM
dem-1080	152	152	390.4	390.4	NUM
dem-1080	152	153	310	310	NUM
dem-1080	152	154	-	-	PROPN
dem-1080	152	155	82	82	NUM
dem-1080	152	156	142.1	142.1	NUM
dem-1080	152	157	810	810	NUM
dem-1080	152	158	-	-	SYM
dem-1080	152	159	27	27	NUM
dem-1080	152	160	6	6	NUM
dem-1080	152	161	investor	investor	NOUN
dem-1080	152	162	ads	ad	NOUN
dem-1080	152	163	524.4	524.4	NUM
dem-1080	152	164	410	410	NUM
dem-1080	152	165	-	-	SYM
dem-1080	152	166	111	111	NUM
dem-1080	152	167	474.7	474.7	NUM
dem-1080	152	168	110	110	NUM
dem-1080	152	169	-	-	SYM
dem-1080	152	170	97	97	NUM
dem-1080	152	171	531.8	531.8	NUM
dem-1080	152	172	110	110	NUM
dem-1080	152	173	-	-	SYM
dem-1080	152	174	112	112	NUM
dem-1080	152	175	475.1	475.1	NUM
dem-1080	152	176	110	110	NUM
dem-1080	152	177	-	-	SYM
dem-1080	152	178	97	97	NUM
dem-1080	152	179	7	7	NUM
dem-1080	152	180	investor	investor	NOUN
dem-1080	152	181	460.3	460.3	NUM
dem-1080	152	182	210	210	NUM
dem-1080	152	183	-	-	SYM
dem-1080	152	184	97	97	NUM
dem-1080	152	185	498.0	498.0	NUM
dem-1080	152	186	110	110	NUM
dem-1080	152	187	-	-	SYM
dem-1080	152	188	102	102	NUM
dem-1080	152	189	459.4	459.4	NUM
dem-1080	152	190	410	410	NUM
dem-1080	152	191	-	-	SYM
dem-1080	152	192	97	97	NUM
dem-1080	152	193	497.2	497.2	NUM
dem-1080	152	194	210	210	NUM
dem-1080	152	195	-	-	SYM
dem-1080	152	196	102	102	NUM
dem-1080	152	197	8	8	NUM
dem-1080	152	198	legg	legg	NOUN
dem-1080	152	199	mason	mason	PROPN
dem-1080	152	200	402.1	402.1	NUM
dem-1080	152	201	110	110	NUM
dem-1080	152	202	-	-	SYM
dem-1080	152	203	84	84	NUM
dem-1080	152	204	333.1	333.1	NUM
dem-1080	152	205	310	310	NUM
dem-1080	152	206	-	-	NUM
dem-1080	152	207	67	67	NUM
dem-1080	152	208	408.6	408.6	NUM
dem-1080	152	209	410	410	NUM
dem-1080	152	210	-	-	SYM
dem-1080	152	211	86	86	NUM
dem-1080	152	212	334.2	334.2	NUM
dem-1080	152	213	210	210	NUM
dem-1080	152	214	-	-	SYM
dem-1080	152	215	67	67	NUM
dem-1080	152	216	9	9	NUM
dem-1080	152	217	millennium	millennium	NOUN
dem-1080	152	218	437.6	437.6	NUM
dem-1080	152	219	210	210	NUM
dem-1080	152	220	-	-	SYM
dem-1080	152	221	92	92	NUM
dem-1080	152	222	371.2	371.2	NUM
dem-1080	152	223	210	210	NUM
dem-1080	152	224	-	-	SYM
dem-1080	152	225	75	75	NUM
dem-1080	152	226	439.8	439.8	NUM
dem-1080	152	227	710	710	NUM
dem-1080	152	228	-	-	SYM
dem-1080	152	229	93	93	NUM
dem-1080	152	230	374.7	374.7	NUM
dem-1080	152	231	410	410	NUM
dem-1080	152	232	-	-	SYM
dem-1080	152	233	76	76	NUM
dem-1080	152	234	10	10	NUM
dem-1080	152	235	novo	novo	NOUN
dem-1080	152	236	622.2	622.2	NUM
dem-1080	152	237	310	310	PROPN
dem-1080	152	238	-	-	NUM
dem-1080	152	239	132	132	NUM
dem-1080	152	240	489.3	489.3	NUM
dem-1080	152	241	110	110	NUM
dem-1080	152	242	-	-	SYM
dem-1080	152	243	100	100	NUM
dem-1080	152	244	609.5	609.5	NUM
dem-1080	152	245	110	110	NUM
dem-1080	152	246	-	-	SYM
dem-1080	152	247	129	129	NUM
dem-1080	152	248	485.7	485.7	NUM
dem-1080	152	249	810	810	NUM
dem-1080	152	250	-	-	SYM
dem-1080	152	251	100	100	NUM
dem-1080	152	252	11	11	NUM
dem-1080	152	253	pioneer	pioneer	NOUN
dem-1080	152	254	423.7	423.7	NUM
dem-1080	152	255	210	210	NUM
dem-1080	152	256	-	-	SYM
dem-1080	152	257	89	89	NUM
dem-1080	152	258	372.1	372.1	NUM
dem-1080	152	259	110	110	NUM
dem-1080	152	260	-	-	SYM
dem-1080	152	261	75	75	NUM
dem-1080	152	262	426.6	426.6	NUM
dem-1080	152	263	510	510	NUM
dem-1080	152	264	-	-	SYM
dem-1080	152	265	90	90	NUM
dem-1080	152	266	374.4	374.4	NUM
dem-1080	152	267	510	510	NUM
dem-1080	152	268	-	-	SYM
dem-1080	152	269	76	76	NUM
dem-1080	152	270	12	12	NUM
dem-1080	152	271	pko	pko	VERB
dem-1080	152	272	485.9	485.9	NUM
dem-1080	152	273	810	810	NUM
dem-1080	152	274	-	-	SYM
dem-1080	152	275	103	103	NUM
dem-1080	152	276	379.1	379.1	NUM
dem-1080	152	277	510	510	NUM
dem-1080	152	278	-	-	SYM
dem-1080	152	279	77	77	NUM
dem-1080	152	280	477.1	477.1	NUM
dem-1080	152	281	710	710	NUM
dem-1080	152	282	-	-	SYM
dem-1080	152	283	101	101	NUM
dem-1080	152	284	379.0	379.0	NUM
dem-1080	152	285	510	510	NUM
dem-1080	152	286	-	-	SYM
dem-1080	152	287	77	77	NUM
dem-1080	152	288	13	13	NUM
dem-1080	152	289	pzu	pzu	VERB
dem-1080	152	290	402.0	402.0	NUM
dem-1080	152	291	110	110	NUM
dem-1080	152	292	-	-	SYM
dem-1080	152	293	84	84	NUM
dem-1080	152	294	387.0	387.0	NUM
dem-1080	152	295	110	110	NUM
dem-1080	152	296	-	-	SYM
dem-1080	152	297	78	78	NUM
dem-1080	152	298	404.9	404.9	NUM
dem-1080	152	299	210	210	NUM
dem-1080	152	300	-	-	SYM
dem-1080	152	301	85	85	NUM
dem-1080	152	302	391.8	391.8	NUM
dem-1080	152	303	110	110	NUM
dem-1080	152	304	-	-	SYM
dem-1080	152	305	79	79	NUM
dem-1080	152	306	14	14	NUM
dem-1080	152	307	skarbiec	skarbiec	NOUN
dem-1080	152	308	384.4	384.4	NUM
dem-1080	152	309	610	610	NUM
dem-1080	152	310	-	-	SYM
dem-1080	152	311	81	81	NUM
dem-1080	152	312	427.0	427.0	NUM
dem-1080	152	313	310	310	NUM
dem-1080	152	314	-	-	NUM
dem-1080	152	315	87	87	NUM
dem-1080	152	316	385.5	385.5	NUM
dem-1080	152	317	410	410	NUM
dem-1080	152	318	-	-	SYM
dem-1080	152	319	81	81	NUM
dem-1080	152	320	426.7	426.7	NUM
dem-1080	152	321	310	310	PROPN
dem-1080	152	322	-	-	NUM
dem-1080	152	323	87	87	NUM
dem-1080	152	324	15	15	NUM
dem-1080	152	325	unikorona	unikorona	NOUN
dem-1080	152	326	371.4	371.4	NUM
dem-1080	152	327	410	410	PROPN
dem-1080	152	328	-	-	SYM
dem-1080	152	329	78	78	NUM
dem-1080	152	330	519.3	519.3	NUM
dem-1080	152	331	510	510	NUM
dem-1080	152	332	-	-	SYM
dem-1080	152	333	107	107	NUM
dem-1080	152	334	376.8	376.8	NUM
dem-1080	152	335	210	210	NUM
dem-1080	152	336	-	-	SYM
dem-1080	152	337	79	79	NUM
dem-1080	152	338	519.7	519.7	NUM
dem-1080	152	339	410	410	NUM
dem-1080	152	340	-	-	SYM
dem-1080	152	341	107	107	NUM
dem-1080	152	342	note	note	NOUN
dem-1080	152	343	:	:	PUNCT
dem-1080	152	344	the	the	DET
dem-1080	152	345	table	table	NOUN
dem-1080	152	346	is	be	AUX
dem-1080	152	347	based	base	VERB
dem-1080	152	348	on	on	ADP
dem-1080	152	349	the	the	DET
dem-1080	152	350	entire	entire	ADJ
dem-1080	152	351	sample	sample	NOUN
dem-1080	152	352	p1	p1	NOUN
dem-1080	152	353	;	;	PUNCT
dem-1080	152	354	t	t	PROPN
dem-1080	152	355	-	-	PUNCT
dem-1080	152	356	m	m	PROPN
dem-1080	152	357	(	(	PUNCT
dem-1080	152	358	2	2	NUM
dem-1080	152	359	)	)	PUNCT
dem-1080	152	360	is	be	AUX
dem-1080	152	361	the	the	DET
dem-1080	152	362	classical	classical	ADJ
dem-1080	152	363	treynor	treynor	NOUN
dem-1080	152	364	-	-	PUNCT
dem-1080	152	365	mazuy	mazuy	NOUN
dem-1080	152	366	model	model	NOUN
dem-1080	152	367	with	with	ADP
dem-1080	152	368	the	the	DET
dem-1080	152	369	lagged	lag	VERB
dem-1080	152	370	excess	excess	ADJ
dem-1080	152	371	return	return	NOUN
dem-1080	152	372	on	on	ADP
dem-1080	152	373	market	market	NOUN
dem-1080	152	374	portfolio	portfolio	NOUN
dem-1080	152	375	m	m	VERB
dem-1080	152	376	as	as	ADP
dem-1080	152	377	additional	additional	ADJ
dem-1080	152	378	factor	factor	NOUN
dem-1080	152	379	;	;	PUNCT
dem-1080	152	380	h	h	X
dem-1080	152	381	-	-	PUNCT
dem-1080	152	382	m	m	PROPN
dem-1080	152	383	(	(	PUNCT
dem-1080	152	384	3	3	NUM
dem-1080	152	385	)	)	PUNCT
dem-1080	152	386	is	be	AUX
dem-1080	152	387	the	the	DET
dem-1080	152	388	classical	classical	ADJ
dem-1080	152	389	henriksson	henriksson	ADJ
dem-1080	152	390	-	-	PUNCT
dem-1080	152	391	merton	merton	NOUN
dem-1080	152	392	model	model	NOUN
dem-1080	152	393	with	with	ADP
dem-1080	152	394	the	the	DET
dem-1080	152	395	lagged	lag	VERB
dem-1080	152	396	excess	excess	ADJ
dem-1080	152	397	return	return	NOUN
dem-1080	152	398	on	on	ADP
dem-1080	152	399	market	market	NOUN
dem-1080	152	400	portfolio	portfolio	NOUN
dem-1080	152	401	m	m	VERB
dem-1080	152	402	as	as	ADP
dem-1080	152	403	additional	additional	ADJ
dem-1080	152	404	factor	factor	NOUN
dem-1080	152	405	;	;	PUNCT
dem-1080	152	406	lm	lm	X
dem-1080	152	407	is	be	AUX
dem-1080	152	408	the	the	DET
dem-1080	152	409	engle	engle	NOUN
dem-1080	152	410	(	(	PUNCT
dem-1080	152	411	1982	1982	NUM
dem-1080	152	412	)	)	PUNCT
dem-1080	152	413	statistic	statistic	NOUN
dem-1080	152	414	at	at	ADP
dem-1080	152	415	the	the	DET
dem-1080	152	416	lag	lag	NOUN
dem-1080	152	417	equal	equal	ADJ
dem-1080	152	418	to	to	ADP
dem-1080	152	419	five	five	NUM
dem-1080	152	420	,	,	PUNCT
dem-1080	152	421	which	which	PRON
dem-1080	152	422	should	should	AUX
dem-1080	152	423	be	be	AUX
dem-1080	152	424	distributed	distribute	VERB
dem-1080	152	425	as	as	ADP
dem-1080	152	426	chi	chi	NOUN
dem-1080	152	427	-	-	PUNCT
dem-1080	152	428	squared	square	VERB
dem-1080	152	429	;	;	PUNCT
dem-1080	152	430	lb	lb	PRON
dem-1080	152	431	is	be	AUX
dem-1080	152	432	the	the	DET
dem-1080	152	433	ljung	ljung	PROPN
dem-1080	152	434	-	-	PUNCT
dem-1080	152	435	box	box	NOUN
dem-1080	152	436	(	(	PUNCT
dem-1080	152	437	1978	1978	NUM
dem-1080	152	438	)	)	PUNCT
dem-1080	152	439	statistic	statistic	NOUN
dem-1080	152	440	at	at	ADP
dem-1080	152	441	the	the	DET
dem-1080	152	442	lag	lag	NOUN
dem-1080	152	443	equal	equal	ADJ
dem-1080	152	444	to	to	ADP
dem-1080	152	445	eight	eight	NUM
dem-1080	152	446	,	,	PUNCT
dem-1080	152	447	which	which	PRON
dem-1080	152	448	should	should	AUX
dem-1080	152	449	be	be	AUX
dem-1080	152	450	distributed	distribute	VERB
dem-1080	152	451	as	as	ADP
dem-1080	152	452	chi	chi	NOUN
dem-1080	152	453	-	-	PUNCT
dem-1080	152	454	squared	square	VERB
dem-1080	152	455	.	.	PUNCT
dem-1080	153	1	tables	table	NOUN
dem-1080	153	2	4a–4b	4a–4b	NOUN
dem-1080	153	3	present	present	VERB
dem-1080	153	4	further	further	ADJ
dem-1080	153	5	analysis	analysis	NOUN
dem-1080	153	6	,	,	PUNCT
dem-1080	153	7	including	include	VERB
dem-1080	153	8	more	more	ADJ
dem-1080	153	9	details	detail	NOUN
dem-1080	153	10	about	about	ADP
dem-1080	153	11	empirical	empirical	ADJ
dem-1080	153	12	results	result	NOUN
dem-1080	153	13	of	of	ADP
dem-1080	153	14	testing	test	VERB
dem-1080	153	15	the	the	DET
dem-1080	153	16	arch	arch	ADJ
dem-1080	153	17	effect	effect	NOUN
dem-1080	153	18	in	in	ADP
dem-1080	153	19	the	the	DET
dem-1080	153	20	t	t	PROPN
dem-1080	153	21	-	-	PUNCT
dem-1080	153	22	m	m	PROPN
dem-1080	153	23	and	and	CCONJ
dem-1080	153	24	the	the	DET
dem-1080	153	25	h	h	NOUN
dem-1080	153	26	-	-	PUNCT
dem-1080	153	27	m	m	NOUN
dem-1080	153	28	market	market	NOUN
dem-1080	153	29	-	-	PUNCT
dem-1080	153	30	timing	timing	NOUN
dem-1080	153	31	models	model	NOUN
dem-1080	153	32	.	.	PUNCT
dem-1080	154	1	the	the	DET
dem-1080	154	2	arch	arch	ADJ
dem-1080	154	3	effect	effect	NOUN
dem-1080	154	4	has	have	AUX
dem-1080	154	5	been	be	AUX
dem-1080	154	6	tested	test	VERB
dem-1080	154	7	in	in	ADP
dem-1080	154	8	the	the	DET
dem-1080	154	9	case	case	NOUN
dem-1080	154	10	of	of	ADP
dem-1080	154	11	all	all	DET
dem-1080	154	12	funds	fund	NOUN
dem-1080	154	13	and	and	CCONJ
dem-1080	154	14	in	in	ADP
dem-1080	154	15	all	all	DET
dem-1080	154	16	subsamples	subsample	NOUN
dem-1080	154	17	.	.	PUNCT
dem-1080	155	1	several	several	ADJ
dem-1080	155	2	results	result	NOUN
dem-1080	155	3	in	in	ADP
dem-1080	155	4	tables	table	NOUN
dem-1080	155	5	4a–4b	4a–4b	NOUN
dem-1080	155	6	are	be	AUX
dem-1080	155	7	worth	worth	ADJ
dem-1080	155	8	special	special	ADJ
dem-1080	155	9	notice	notice	NOUN
dem-1080	155	10	.	.	PUNCT
dem-1080	156	1	the	the	DET
dem-1080	156	2	arch	arch	ADJ
dem-1080	156	3	effect	effect	NOUN
dem-1080	156	4	disappears	disappear	VERB
dem-1080	156	5	as	as	SCONJ
dem-1080	156	6	the	the	DET
dem-1080	156	7	interval	interval	NOUN
dem-1080	156	8	is	be	AUX
dem-1080	156	9	shortened	shorten	VERB
dem-1080	156	10	and	and	CCONJ
dem-1080	156	11	only	only	ADV
dem-1080	156	12	in	in	ADP
dem-1080	156	13	the	the	DET
dem-1080	156	14	case	case	NOUN
dem-1080	156	15	of	of	ADP
dem-1080	156	16	5	5	NUM
dem-1080	156	17	out	out	ADP
dem-1080	156	18	of	of	ADP
dem-1080	156	19	15	15	NUM
dem-1080	156	20	funds	fund	NOUN
dem-1080	156	21	(	(	PUNCT
dem-1080	156	22	i.e.	i.e.	X
dem-1080	156	23	arka	arka	NOUN
dem-1080	156	24	,	,	PUNCT
dem-1080	156	25	investor	investor	NOUN
dem-1080	156	26	25	25	NUM
dem-1080	156	27	,	,	PUNCT
dem-1080	156	28	novo	novo	NOUN
dem-1080	156	29	,	,	PUNCT
dem-1080	156	30	skarbiec	skarbiec	NOUN
dem-1080	156	31	and	and	CCONJ
dem-1080	156	32	unikorona	unikorona	NOUN
dem-1080	156	33	)	)	PUNCT
dem-1080	156	34	it	it	PRON
dem-1080	156	35	persists	persist	VERB
dem-1080	156	36	in	in	ADP
dem-1080	156	37	all	all	DET
dem-1080	156	38	samples	sample	NOUN
dem-1080	156	39	p1	p1	NOUN
dem-1080	156	40	–	–	PUNCT
dem-1080	156	41	p8	p8	ADJ
dem-1080	156	42	.	.	PUNCT
dem-1080	157	1	furthermore	furthermore	ADV
dem-1080	157	2	,	,	PUNCT
dem-1080	157	3	if	if	SCONJ
dem-1080	157	4	the	the	DET
dem-1080	157	5	arch	arch	ADJ
dem-1080	157	6	effects	effect	NOUN
dem-1080	157	7	are	be	AUX
dem-1080	157	8	not	not	PART
dem-1080	157	9	present	present	ADJ
dem-1080	157	10	in	in	ADP
dem-1080	157	11	the	the	DET
dem-1080	157	12	model	model	NOUN
dem-1080	157	13	,	,	PUNCT
dem-1080	157	14	simple	simple	ADJ
dem-1080	157	15	ols	ol	NOUN
dem-1080	157	16	regression	regression	NOUN
dem-1080	157	17	is	be	AUX
dem-1080	157	18	quite	quite	ADV
dem-1080	157	19	sufficient	sufficient	ADJ
dem-1080	157	20	(	(	PUNCT
dem-1080	157	21	brzeszczyński	brzeszczyński	NOUN
dem-1080	157	22	et	et	PROPN
dem-1080	157	23	al	al	PROPN
dem-1080	157	24	.	.	PROPN
dem-1080	157	25	,	,	PUNCT
dem-1080	157	26	2011	2011	NUM
dem-1080	157	27	)	)	PUNCT
dem-1080	157	28	.	.	PUNCT
dem-1080	158	1	table	table	NOUN
dem-1080	158	2	4a	4a	NOUN
dem-1080	158	3	.	.	PUNCT
dem-1080	159	1	result	result	NOUN
dem-1080	159	2	summary	summary	NOUN
dem-1080	159	3	of	of	ADP
dem-1080	159	4	the	the	DET
dem-1080	159	5	arch	arch	ADJ
dem-1080	159	6	effect	effect	NOUN
dem-1080	159	7	in	in	ADP
dem-1080	159	8	the	the	DET
dem-1080	159	9	t	t	PROPN
dem-1080	159	10	-	-	PUNCT
dem-1080	159	11	m	m	PROPN
dem-1080	159	12	and	and	CCONJ
dem-1080	159	13	h	h	NOUN
dem-1080	159	14	-	-	PUNCT
dem-1080	159	15	m	m	NOUN
dem-1080	159	16	models	model	NOUN
dem-1080	159	17	;	;	PUNCT
dem-1080	159	18	subsamples	subsample	NOUN
dem-1080	159	19	p1	p1	NOUN
dem-1080	159	20	–	–	PUNCT
dem-1080	159	21	p4	p4	ADJ
dem-1080	159	22	fu	fu	NOUN
dem-1080	159	23	nd	nd	INTJ
dem-1080	159	24	.	.	PUNCT
dem-1080	160	1	n	n	CCONJ
dem-1080	160	2	o.	o.	PROPN
dem-1080	160	3	p1	p1	PROPN
dem-1080	160	4	p2	p2	PROPN
dem-1080	160	5	p3	p3	PROPN
dem-1080	160	6	p4	p4	PROPN
dem-1080	160	7	t	t	PROPN
dem-1080	160	8	-	-	PUNCT
dem-1080	160	9	m	m	PROPN
dem-1080	160	10	h	h	PROPN
dem-1080	160	11	-	-	PUNCT
dem-1080	160	12	m	m	PROPN
dem-1080	160	13	t	t	PROPN
dem-1080	160	14	-	-	PUNCT
dem-1080	160	15	m	m	NOUN
dem-1080	160	16	h	h	PROPN
dem-1080	160	17	-	-	PUNCT
dem-1080	160	18	m	m	PROPN
dem-1080	160	19	t	t	PROPN
dem-1080	160	20	-	-	PUNCT
dem-1080	160	21	m	m	NOUN
dem-1080	160	22	h	h	PROPN
dem-1080	160	23	-	-	PUNCT
dem-1080	160	24	m	m	PROPN
dem-1080	160	25	t	t	PROPN
dem-1080	160	26	-	-	PUNCT
dem-1080	160	27	m	m	NOUN
dem-1080	160	28	h	h	NOUN
dem-1080	160	29	-	-	PUNCT
dem-1080	160	30	m	m	VERB
dem-1080	160	31	lm	lm	INTJ
dem-1080	161	1	lb	lb	INTJ
dem-1080	161	2	lm	lm	INTJ
dem-1080	162	1	lb	lb	INTJ
dem-1080	162	2	lm	lm	INTJ
dem-1080	163	1	lb	lb	INTJ
dem-1080	163	2	lm	lm	INTJ
dem-1080	164	1	lb	lb	INTJ
dem-1080	164	2	lm	lm	INTJ
dem-1080	165	1	lb	lb	INTJ
dem-1080	165	2	lm	lm	INTJ
dem-1080	166	1	lb	lb	INTJ
dem-1080	166	2	lm	lm	INTJ
dem-1080	167	1	lb	lb	INTJ
dem-1080	167	2	lm	lm	INTJ
dem-1080	167	3	lb	lb	NUM
dem-1080	167	4	1	1	NUM
dem-1080	167	5	+	+	CCONJ
dem-1080	168	1	+	+	PUNCT
dem-1080	169	1	+	+	PUNCT
dem-1080	169	2	+	+	PUNCT
dem-1080	169	3	+	+	PUNCT
dem-1080	169	4	+	+	PUNCT
dem-1080	169	5	+	+	PUNCT
dem-1080	169	6	+	+	PUNCT
dem-1080	169	7	+	+	PUNCT
dem-1080	169	8	+	+	PUNCT
dem-1080	169	9	+	+	PUNCT
dem-1080	169	10	+	+	PUNCT
dem-1080	169	11	+	+	PUNCT
dem-1080	169	12	+	+	PUNCT
dem-1080	169	13	+	+	CCONJ
dem-1080	169	14	+	+	NUM
dem-1080	169	15	2	2	NUM
dem-1080	169	16	+	+	CCONJ
dem-1080	169	17	+	+	PUNCT
dem-1080	169	18	+	+	PUNCT
dem-1080	169	19	+	+	PUNCT
dem-1080	169	20	+	+	PUNCT
dem-1080	169	21	+	+	PUNCT
dem-1080	169	22	+	+	PUNCT
dem-1080	169	23	+	+	PUNCT
dem-1080	169	24	+	+	PUNCT
dem-1080	169	25	+	+	PUNCT
dem-1080	169	26	+	+	PUNCT
dem-1080	169	27	+	+	PUNCT
dem-1080	169	28	+	+	PUNCT
dem-1080	169	29	+	+	PUNCT
dem-1080	169	30	+	+	CCONJ
dem-1080	169	31	+	+	NUM
dem-1080	169	32	3	3	NUM
dem-1080	169	33	+	+	CCONJ
dem-1080	169	34	+	+	PUNCT
dem-1080	169	35	+	+	PUNCT
dem-1080	169	36	+	+	PUNCT
dem-1080	169	37	+	+	PUNCT
dem-1080	169	38	+	+	PUNCT
dem-1080	169	39	+	+	PUNCT
dem-1080	169	40	+	+	PUNCT
dem-1080	169	41	+	+	PUNCT
dem-1080	169	42	+	+	PUNCT
dem-1080	169	43	+	+	PUNCT
dem-1080	169	44	+	+	NUM
dem-1080	169	45	4	4	NUM
dem-1080	169	46	+	+	CCONJ
dem-1080	169	47	+	+	PUNCT
dem-1080	169	48	+	+	PUNCT
dem-1080	169	49	+	+	PUNCT
dem-1080	169	50	+	+	PUNCT
dem-1080	169	51	+	+	PUNCT
dem-1080	169	52	+	+	PUNCT
dem-1080	169	53	+	+	PUNCT
dem-1080	169	54	+	+	PUNCT
dem-1080	169	55	+	+	PUNCT
dem-1080	169	56	+	+	PUNCT
dem-1080	169	57	+	+	PUNCT
dem-1080	169	58	+	+	PUNCT
dem-1080	169	59	+	+	PUNCT
dem-1080	169	60	+	+	CCONJ
dem-1080	169	61	+	+	NUM
dem-1080	169	62	5	5	NUM
dem-1080	169	63	+	+	CCONJ
dem-1080	169	64	+	+	PUNCT
dem-1080	169	65	+	+	PUNCT
dem-1080	169	66	+	+	PUNCT
dem-1080	169	67	+	+	PUNCT
dem-1080	169	68	+	+	PUNCT
dem-1080	169	69	+	+	PUNCT
dem-1080	169	70	+	+	PUNCT
dem-1080	169	71	+	+	PUNCT
dem-1080	169	72	+	+	PUNCT
dem-1080	169	73	+	+	PUNCT
dem-1080	169	74	+	+	PUNCT
dem-1080	169	75	+	+	PUNCT
dem-1080	169	76	+	+	PUNCT
dem-1080	169	77	+	+	PUNCT
dem-1080	169	78	+	+	NUM
dem-1080	169	79	6	6	NUM
dem-1080	169	80	+	+	CCONJ
dem-1080	169	81	+	+	PUNCT
dem-1080	169	82	+	+	PUNCT
dem-1080	169	83	+	+	PUNCT
dem-1080	169	84	+	+	PUNCT
dem-1080	169	85	+	+	PUNCT
dem-1080	169	86	+	+	PUNCT
dem-1080	169	87	+	+	PUNCT
dem-1080	169	88	+	+	PUNCT
dem-1080	169	89	+	+	PUNCT
dem-1080	169	90	+	+	PUNCT
dem-1080	169	91	+	+	PUNCT
dem-1080	169	92	+	+	PUNCT
dem-1080	169	93	+	+	PUNCT
dem-1080	169	94	+	+	PUNCT
dem-1080	169	95	+	+	CCONJ
dem-1080	169	96	7	7	NUM
dem-1080	169	97	+	+	CCONJ
dem-1080	169	98	+	+	PUNCT
dem-1080	169	99	+	+	PUNCT
dem-1080	169	100	+	+	PUNCT
dem-1080	169	101	+	+	PUNCT
dem-1080	169	102	+	+	PUNCT
dem-1080	169	103	+	+	PUNCT
dem-1080	169	104	+	+	PUNCT
dem-1080	169	105	+	+	PUNCT
dem-1080	169	106	+	+	PUNCT
dem-1080	169	107	+	+	PUNCT
dem-1080	169	108	+	+	PUNCT
dem-1080	169	109	+	+	PUNCT
dem-1080	169	110	+	+	PUNCT
dem-1080	169	111	+	+	CCONJ
dem-1080	169	112	+	+	NUM
dem-1080	169	113	8	8	NUM
dem-1080	169	114	+	+	CCONJ
dem-1080	169	115	+	+	PUNCT
dem-1080	169	116	+	+	PUNCT
dem-1080	169	117	+	+	PUNCT
dem-1080	169	118	+	+	PUNCT
dem-1080	169	119	+	+	PUNCT
dem-1080	169	120	+	+	PUNCT
dem-1080	169	121	+	+	PUNCT
dem-1080	169	122	+	+	PUNCT
dem-1080	169	123	+	+	PUNCT
dem-1080	170	1	+	+	PUNCT
dem-1080	170	2	+	+	CCONJ
dem-1080	170	3	9	9	NUM
dem-1080	170	4	+	+	CCONJ
dem-1080	170	5	+	+	PUNCT
dem-1080	170	6	+	+	PUNCT
dem-1080	170	7	+	+	PUNCT
dem-1080	170	8	+	+	PUNCT
dem-1080	170	9	+	+	PUNCT
dem-1080	170	10	+	+	PUNCT
dem-1080	170	11	+	+	PUNCT
dem-1080	170	12	+	+	PUNCT
dem-1080	170	13	+	+	PUNCT
dem-1080	170	14	+	+	CCONJ
dem-1080	170	15	+	+	NUM
dem-1080	170	16	10	10	NUM
dem-1080	170	17	+	+	CCONJ
dem-1080	170	18	+	+	PUNCT
dem-1080	170	19	+	+	PUNCT
dem-1080	170	20	+	+	PUNCT
dem-1080	170	21	+	+	PUNCT
dem-1080	170	22	+	+	PUNCT
dem-1080	170	23	+	+	PUNCT
dem-1080	170	24	+	+	PUNCT
dem-1080	170	25	+	+	PUNCT
dem-1080	170	26	+	+	PUNCT
dem-1080	170	27	+	+	PUNCT
dem-1080	170	28	+	+	PUNCT
dem-1080	170	29	+	+	PUNCT
dem-1080	170	30	+	+	PUNCT
dem-1080	170	31	+	+	CCONJ
dem-1080	170	32	+	+	NUM
dem-1080	170	33	11	11	NUM
dem-1080	170	34	+	+	CCONJ
dem-1080	170	35	+	+	PUNCT
dem-1080	170	36	+	+	PUNCT
dem-1080	170	37	+	+	PUNCT
dem-1080	170	38	+	+	PUNCT
dem-1080	170	39	+	+	PUNCT
dem-1080	170	40	+	+	PUNCT
dem-1080	170	41	+	+	PUNCT
dem-1080	170	42	+	+	PUNCT
dem-1080	170	43	+	+	PUNCT
dem-1080	171	1	+	+	PUNCT
dem-1080	171	2	+	+	NUM
dem-1080	171	3	12	12	NUM
dem-1080	171	4	+	+	CCONJ
dem-1080	171	5	+	+	PUNCT
dem-1080	171	6	+	+	PUNCT
dem-1080	171	7	+	+	PUNCT
dem-1080	171	8	+	+	PUNCT
dem-1080	171	9	+	+	PUNCT
dem-1080	171	10	+	+	PUNCT
dem-1080	171	11	+	+	PUNCT
dem-1080	171	12	+	+	PUNCT
dem-1080	171	13	+	+	PUNCT
dem-1080	171	14	+	+	PUNCT
dem-1080	171	15	+	+	PUNCT
dem-1080	171	16	+	+	PUNCT
dem-1080	171	17	+	+	PUNCT
dem-1080	172	1	+	+	PUNCT
dem-1080	172	2	+	+	NUM
dem-1080	172	3	13	13	NUM
dem-1080	172	4	+	+	CCONJ
dem-1080	172	5	+	+	PUNCT
dem-1080	172	6	+	+	PUNCT
dem-1080	172	7	+	+	PUNCT
dem-1080	172	8	+	+	PUNCT
dem-1080	172	9	+	+	PUNCT
dem-1080	172	10	+	+	PUNCT
dem-1080	172	11	+	+	PUNCT
dem-1080	172	12	+	+	PUNCT
dem-1080	172	13	+	+	PUNCT
dem-1080	172	14	+	+	PUNCT
dem-1080	172	15	+	+	NUM
dem-1080	172	16	14	14	NUM
dem-1080	172	17	+	+	CCONJ
dem-1080	172	18	+	+	PUNCT
dem-1080	172	19	+	+	PUNCT
dem-1080	172	20	+	+	PUNCT
dem-1080	172	21	+	+	PUNCT
dem-1080	172	22	+	+	PUNCT
dem-1080	172	23	+	+	PUNCT
dem-1080	172	24	+	+	PUNCT
dem-1080	172	25	+	+	PUNCT
dem-1080	172	26	+	+	PUNCT
dem-1080	172	27	+	+	PUNCT
dem-1080	172	28	+	+	PUNCT
dem-1080	172	29	+	+	PUNCT
dem-1080	172	30	+	+	PUNCT
dem-1080	172	31	+	+	CCONJ
dem-1080	172	32	+	+	NUM
dem-1080	172	33	15	15	NUM
dem-1080	172	34	+	+	CCONJ
dem-1080	172	35	+	+	PUNCT
dem-1080	172	36	+	+	PUNCT
dem-1080	172	37	+	+	PUNCT
dem-1080	172	38	+	+	PUNCT
dem-1080	172	39	+	+	PUNCT
dem-1080	172	40	+	+	PUNCT
dem-1080	172	41	+	+	PUNCT
dem-1080	172	42	+	+	PUNCT
dem-1080	172	43	+	+	PUNCT
dem-1080	172	44	+	+	PUNCT
dem-1080	172	45	+	+	PUNCT
dem-1080	173	1	+	+	PUNCT
dem-1080	173	2	+	+	PUNCT
dem-1080	173	3	+	+	CCONJ
dem-1080	173	4	+	+	CCONJ
dem-1080	173	5	table	table	NOUN
dem-1080	173	6	4b	4b	PROPN
dem-1080	173	7	.	.	PUNCT
dem-1080	174	1	result	result	PROPN
dem-1080	174	2	summary	summary	NOUN
dem-1080	174	3	of	of	ADP
dem-1080	174	4	the	the	DET
dem-1080	174	5	arch	arch	ADJ
dem-1080	174	6	effect	effect	NOUN
dem-1080	174	7	in	in	ADP
dem-1080	174	8	the	the	DET
dem-1080	174	9	t	t	PROPN
dem-1080	174	10	-	-	PUNCT
dem-1080	174	11	m	m	PROPN
dem-1080	174	12	and	and	CCONJ
dem-1080	174	13	h	h	NOUN
dem-1080	174	14	-	-	PUNCT
dem-1080	174	15	m	m	NOUN
dem-1080	174	16	models	model	NOUN
dem-1080	174	17	;	;	PUNCT
dem-1080	174	18	subsamples	subsample	NOUN
dem-1080	174	19	p5	p5	ADJ
dem-1080	174	20	–	–	PUNCT
dem-1080	174	21	p8	p8	PROPN
dem-1080	174	22	fu	fu	NOUN
dem-1080	174	23	nd	nd	INTJ
dem-1080	174	24	.	.	PUNCT
dem-1080	175	1	n	n	CCONJ
dem-1080	175	2	o.	o.	ADV
dem-1080	175	3	p5	p5	ADJ
dem-1080	175	4	p6	p6	PROPN
dem-1080	175	5	p7	p7	PROPN
dem-1080	175	6	p8	p8	PROPN
dem-1080	175	7	t	t	PROPN
dem-1080	175	8	-	-	PUNCT
dem-1080	175	9	m	m	NOUN
dem-1080	175	10	h	h	PROPN
dem-1080	175	11	-	-	PUNCT
dem-1080	175	12	m	m	PROPN
dem-1080	175	13	t	t	PROPN
dem-1080	175	14	-	-	PUNCT
dem-1080	175	15	m	m	NOUN
dem-1080	175	16	h	h	PROPN
dem-1080	175	17	-	-	PUNCT
dem-1080	175	18	m	m	PROPN
dem-1080	175	19	t	t	PROPN
dem-1080	175	20	-	-	PUNCT
dem-1080	175	21	m	m	NOUN
dem-1080	175	22	h	h	PROPN
dem-1080	175	23	-	-	PUNCT
dem-1080	175	24	m	m	PROPN
dem-1080	175	25	t	t	PROPN
dem-1080	175	26	-	-	PUNCT
dem-1080	175	27	m	m	NOUN
dem-1080	175	28	h	h	NOUN
dem-1080	175	29	-	-	PUNCT
dem-1080	175	30	m	m	VERB
dem-1080	175	31	lm	lm	INTJ
dem-1080	176	1	lb	lb	INTJ
dem-1080	176	2	lm	lm	INTJ
dem-1080	177	1	lb	lb	INTJ
dem-1080	177	2	lm	lm	INTJ
dem-1080	178	1	lb	lb	INTJ
dem-1080	178	2	lm	lm	INTJ
dem-1080	179	1	lb	lb	INTJ
dem-1080	179	2	lm	lm	INTJ
dem-1080	180	1	lb	lb	INTJ
dem-1080	180	2	lm	lm	INTJ
dem-1080	181	1	lb	lb	INTJ
dem-1080	181	2	lm	lm	INTJ
dem-1080	182	1	lb	lb	INTJ
dem-1080	182	2	lm	lm	INTJ
dem-1080	182	3	lb	lb	NUM
dem-1080	182	4	1	1	NUM
dem-1080	182	5	+	+	CCONJ
dem-1080	183	1	+	+	PUNCT
dem-1080	184	1	+	+	PUNCT
dem-1080	184	2	+	+	PUNCT
dem-1080	184	3	+	+	PUNCT
dem-1080	184	4	+	+	PUNCT
dem-1080	184	5	+	+	PUNCT
dem-1080	184	6	+	+	PUNCT
dem-1080	184	7	+	+	PUNCT
dem-1080	184	8	+	+	PUNCT
dem-1080	184	9	+	+	PUNCT
dem-1080	184	10	+	+	PUNCT
dem-1080	184	11	+	+	PUNCT
dem-1080	184	12	+	+	PUNCT
dem-1080	184	13	+	+	CCONJ
dem-1080	184	14	+	+	NUM
dem-1080	184	15	2	2	NUM
dem-1080	184	16	+	+	CCONJ
dem-1080	184	17	+	+	PUNCT
dem-1080	184	18	+	+	PUNCT
dem-1080	184	19	+	+	PUNCT
dem-1080	184	20	+	+	PUNCT
dem-1080	184	21	+	+	PUNCT
dem-1080	184	22	+	+	PUNCT
dem-1080	184	23	+	+	PUNCT
dem-1080	184	24	+	+	PUNCT
dem-1080	184	25	+	+	PUNCT
dem-1080	184	26	+	+	CCONJ
dem-1080	184	27	+	+	NUM
dem-1080	184	28	3	3	NUM
dem-1080	184	29	+	+	CCONJ
dem-1080	184	30	+	+	PUNCT
dem-1080	184	31	+	+	PUNCT
dem-1080	184	32	+	+	PUNCT
dem-1080	184	33	+	+	PUNCT
dem-1080	184	34	+	+	NUM
dem-1080	184	35	4	4	NUM
dem-1080	184	36	+	+	CCONJ
dem-1080	184	37	+	+	PUNCT
dem-1080	184	38	+	+	PUNCT
dem-1080	184	39	+	+	PUNCT
dem-1080	184	40	+	+	PUNCT
dem-1080	184	41	+	+	PUNCT
dem-1080	184	42	+	+	PUNCT
dem-1080	184	43	+	+	PUNCT
dem-1080	184	44	+	+	CCONJ
dem-1080	184	45	+	+	NUM
dem-1080	184	46	5	5	NUM
dem-1080	184	47	+	+	CCONJ
dem-1080	184	48	+	+	PUNCT
dem-1080	184	49	+	+	PUNCT
dem-1080	184	50	+	+	PUNCT
dem-1080	184	51	+	+	PUNCT
dem-1080	184	52	+	+	PUNCT
dem-1080	184	53	+	+	PUNCT
dem-1080	184	54	+	+	PUNCT
dem-1080	184	55	+	+	PUNCT
dem-1080	184	56	+	+	PUNCT
dem-1080	184	57	+	+	PUNCT
dem-1080	184	58	+	+	PUNCT
dem-1080	184	59	+	+	PUNCT
dem-1080	184	60	+	+	PUNCT
dem-1080	184	61	+	+	PUNCT
dem-1080	184	62	+	+	NUM
dem-1080	184	63	6	6	NUM
dem-1080	184	64	+	+	CCONJ
dem-1080	184	65	+	+	PUNCT
dem-1080	184	66	+	+	PUNCT
dem-1080	184	67	+	+	PUNCT
dem-1080	184	68	+	+	PUNCT
dem-1080	184	69	+	+	PUNCT
dem-1080	184	70	+	+	PUNCT
dem-1080	184	71	+	+	PUNCT
dem-1080	184	72	+	+	PUNCT
dem-1080	184	73	+	+	PUNCT
dem-1080	184	74	+	+	PUNCT
dem-1080	184	75	+	+	CCONJ
dem-1080	184	76	7	7	NUM
dem-1080	184	77	+	+	CCONJ
dem-1080	184	78	+	+	PUNCT
dem-1080	184	79	+	+	PUNCT
dem-1080	184	80	+	+	PUNCT
dem-1080	184	81	+	+	PUNCT
dem-1080	184	82	+	+	PUNCT
dem-1080	184	83	+	+	PUNCT
dem-1080	184	84	+	+	PUNCT
dem-1080	184	85	+	+	PUNCT
dem-1080	184	86	+	+	PUNCT
dem-1080	184	87	+	+	PUNCT
dem-1080	184	88	+	+	PUNCT
dem-1080	184	89	+	+	CCONJ
dem-1080	184	90	+	+	NUM
dem-1080	184	91	8	8	NUM
dem-1080	184	92	+	+	CCONJ
dem-1080	184	93	+	+	PUNCT
dem-1080	184	94	+	+	PUNCT
dem-1080	184	95	+	+	PUNCT
dem-1080	184	96	+	+	PUNCT
dem-1080	184	97	+	+	PUNCT
dem-1080	185	1	+	+	PUNCT
dem-1080	185	2	+	+	CCONJ
dem-1080	185	3	9	9	NUM
dem-1080	185	4	+	+	CCONJ
dem-1080	185	5	+	+	PUNCT
dem-1080	185	6	+	+	PUNCT
dem-1080	185	7	+	+	PUNCT
dem-1080	185	8	+	+	PUNCT
dem-1080	185	9	+	+	PUNCT
dem-1080	185	10	+	+	CCONJ
dem-1080	185	11	+	+	NUM
dem-1080	185	12	10	10	NUM
dem-1080	185	13	+	+	CCONJ
dem-1080	185	14	+	+	PUNCT
dem-1080	185	15	+	+	PUNCT
dem-1080	185	16	+	+	PUNCT
dem-1080	185	17	+	+	PUNCT
dem-1080	185	18	+	+	PUNCT
dem-1080	185	19	+	+	PUNCT
dem-1080	185	20	+	+	PUNCT
dem-1080	185	21	+	+	PUNCT
dem-1080	185	22	+	+	PUNCT
dem-1080	185	23	+	+	PUNCT
dem-1080	185	24	+	+	PUNCT
dem-1080	185	25	+	+	PUNCT
dem-1080	185	26	+	+	PUNCT
dem-1080	185	27	+	+	CCONJ
dem-1080	185	28	+	+	NUM
dem-1080	185	29	11	11	NUM
dem-1080	185	30	+	+	CCONJ
dem-1080	185	31	+	+	PUNCT
dem-1080	185	32	+	+	PUNCT
dem-1080	185	33	+	+	PUNCT
dem-1080	186	1	+	+	PUNCT
dem-1080	186	2	+	+	NUM
dem-1080	186	3	12	12	NUM
dem-1080	186	4	+	+	CCONJ
dem-1080	186	5	+	+	PUNCT
dem-1080	186	6	+	+	PUNCT
dem-1080	186	7	+	+	PUNCT
dem-1080	186	8	+	+	PUNCT
dem-1080	186	9	+	+	PUNCT
dem-1080	186	10	+	+	PUNCT
dem-1080	186	11	+	+	PUNCT
dem-1080	187	1	+	+	PUNCT
dem-1080	187	2	+	+	NUM
dem-1080	187	3	13	13	NUM
dem-1080	187	4	+	+	CCONJ
dem-1080	187	5	+	+	PUNCT
dem-1080	187	6	+	+	PUNCT
dem-1080	187	7	+	+	PUNCT
dem-1080	187	8	+	+	PUNCT
dem-1080	187	9	+	+	PUNCT
dem-1080	187	10	+	+	PUNCT
dem-1080	187	11	+	+	PUNCT
dem-1080	187	12	+	+	PUNCT
dem-1080	187	13	+	+	PUNCT
dem-1080	187	14	+	+	PUNCT
dem-1080	187	15	+	+	NUM
dem-1080	187	16	14	14	NUM
dem-1080	187	17	+	+	CCONJ
dem-1080	187	18	+	+	PUNCT
dem-1080	187	19	+	+	PUNCT
dem-1080	187	20	+	+	PUNCT
dem-1080	187	21	+	+	PUNCT
dem-1080	187	22	+	+	PUNCT
dem-1080	187	23	+	+	PUNCT
dem-1080	187	24	+	+	PUNCT
dem-1080	187	25	+	+	PUNCT
dem-1080	187	26	+	+	PUNCT
dem-1080	187	27	+	+	PUNCT
dem-1080	187	28	+	+	PUNCT
dem-1080	187	29	+	+	PUNCT
dem-1080	187	30	+	+	PUNCT
dem-1080	187	31	+	+	CCONJ
dem-1080	187	32	+	+	NUM
dem-1080	187	33	15	15	NUM
dem-1080	187	34	+	+	CCONJ
dem-1080	187	35	+	+	PUNCT
dem-1080	187	36	+	+	PUNCT
dem-1080	187	37	+	+	PUNCT
dem-1080	187	38	+	+	PUNCT
dem-1080	187	39	+	+	PUNCT
dem-1080	187	40	+	+	PUNCT
dem-1080	187	41	+	+	PUNCT
dem-1080	187	42	+	+	PUNCT
dem-1080	187	43	+	+	PUNCT
dem-1080	187	44	+	+	PUNCT
dem-1080	187	45	+	+	PUNCT
dem-1080	187	46	+	+	PUNCT
dem-1080	187	47	+	+	PUNCT
dem-1080	187	48	+	+	CCONJ
dem-1080	187	49	+	+	CCONJ
dem-1080	187	50	note	note	NOUN
dem-1080	187	51	:	:	PUNCT
dem-1080	187	52	table	table	NOUN
dem-1080	187	53	4a	4a	NOUN
dem-1080	187	54	is	be	AUX
dem-1080	187	55	based	base	VERB
dem-1080	187	56	on	on	ADP
dem-1080	187	57	the	the	DET
dem-1080	187	58	samples	sample	NOUN
dem-1080	187	59	p1	p1	NOUN
dem-1080	187	60	–	–	PUNCT
dem-1080	187	61	p4	p4	ADJ
dem-1080	187	62	and	and	CCONJ
dem-1080	187	63	table	table	NOUN
dem-1080	187	64	4b	4b	PROPN
dem-1080	187	65	is	be	AUX
dem-1080	187	66	based	base	VERB
dem-1080	187	67	on	on	ADP
dem-1080	187	68	the	the	DET
dem-1080	187	69	samples	sample	NOUN
dem-1080	187	70	p5	p5	ADJ
dem-1080	187	71	–	–	PUNCT
dem-1080	187	72	p8	p8	ADJ
dem-1080	187	73	(	(	PUNCT
dem-1080	187	74	table	table	NOUN
dem-1080	187	75	1	1	NUM
dem-1080	187	76	)	)	PUNCT
dem-1080	187	77	;	;	PUNCT
dem-1080	187	78	t	t	PROPN
dem-1080	187	79	-	-	PUNCT
dem-1080	187	80	m	m	PROPN
dem-1080	187	81	(	(	PUNCT
dem-1080	187	82	2	2	NUM
dem-1080	187	83	)	)	PUNCT
dem-1080	187	84	is	be	AUX
dem-1080	187	85	the	the	DET
dem-1080	187	86	classical	classical	ADJ
dem-1080	187	87	treynor	treynor	NOUN
dem-1080	187	88	-	-	PUNCT
dem-1080	187	89	mazuy	mazuy	NOUN
dem-1080	187	90	model	model	NOUN
dem-1080	187	91	with	with	ADP
dem-1080	187	92	the	the	DET
dem-1080	187	93	lagged	lag	VERB
dem-1080	187	94	excess	excess	ADJ
dem-1080	187	95	return	return	NOUN
dem-1080	187	96	on	on	ADP
dem-1080	187	97	market	market	NOUN
dem-1080	187	98	portfolio	portfolio	NOUN
dem-1080	187	99	m	m	VERB
dem-1080	187	100	as	as	ADP
dem-1080	187	101	additional	additional	ADJ
dem-1080	187	102	factor	factor	NOUN
dem-1080	187	103	;	;	PUNCT
dem-1080	187	104	h	h	X
dem-1080	187	105	-	-	PUNCT
dem-1080	187	106	m	m	PROPN
dem-1080	187	107	(	(	PUNCT
dem-1080	187	108	3	3	NUM
dem-1080	187	109	)	)	PUNCT
dem-1080	187	110	is	be	AUX
dem-1080	187	111	the	the	DET
dem-1080	187	112	classical	classical	ADJ
dem-1080	187	113	henriksson	henriksson	ADJ
dem-1080	187	114	-	-	PUNCT
dem-1080	187	115	merton	merton	NOUN
dem-1080	187	116	model	model	NOUN
dem-1080	187	117	with	with	ADP
dem-1080	187	118	the	the	DET
dem-1080	187	119	lagged	lag	VERB
dem-1080	187	120	excess	excess	ADJ
dem-1080	187	121	return	return	NOUN
dem-1080	187	122	on	on	ADP
dem-1080	187	123	market	market	NOUN
dem-1080	187	124	portfolio	portfolio	NOUN
dem-1080	187	125	m	m	VERB
dem-1080	187	126	as	as	ADP
dem-1080	187	127	additional	additional	ADJ
dem-1080	187	128	factor	factor	NOUN
dem-1080	187	129	;	;	PUNCT
dem-1080	187	130	lm	lm	X
dem-1080	187	131	is	be	AUX
dem-1080	187	132	the	the	DET
dem-1080	187	133	engle	engle	NOUN
dem-1080	187	134	(	(	PUNCT
dem-1080	187	135	1982	1982	NUM
dem-1080	187	136	)	)	PUNCT
dem-1080	187	137	statistic	statistic	NOUN
dem-1080	187	138	at	at	ADP
dem-1080	187	139	the	the	DET
dem-1080	187	140	lag	lag	NOUN
dem-1080	187	141	q	q	NOUN
dem-1080	187	142	,	,	PUNCT
dem-1080	187	143	which	which	PRON
dem-1080	187	144	should	should	AUX
dem-1080	187	145	be	be	AUX
dem-1080	187	146	distributed	distribute	VERB
dem-1080	187	147	as	as	ADP
dem-1080	187	148	chi	chi	NOUN
dem-1080	187	149	-	-	PUNCT
dem-1080	187	150	squared	square	VERB
dem-1080	187	151	;	;	PUNCT
dem-1080	187	152	lb	lb	PRON
dem-1080	187	153	is	be	AUX
dem-1080	187	154	the	the	DET
dem-1080	187	155	ljung	ljung	PROPN
dem-1080	187	156	-	-	PUNCT
dem-1080	187	157	box	box	NOUN
dem-1080	187	158	(	(	PUNCT
dem-1080	187	159	1978	1978	NUM
dem-1080	187	160	)	)	PUNCT
dem-1080	187	161	statistic	statistic	NOUN
dem-1080	187	162	at	at	ADP
dem-1080	187	163	the	the	DET
dem-1080	187	164	lag	lag	NOUN
dem-1080	187	165	q	q	NOUN
dem-1080	187	166	,	,	PUNCT
dem-1080	187	167	which	which	PRON
dem-1080	187	168	should	should	AUX
dem-1080	187	169	be	be	AUX
dem-1080	187	170	distributed	distribute	VERB
dem-1080	187	171	as	as	ADP
dem-1080	187	172	chi	chi	NOUN
dem-1080	187	173	-	-	PUNCT
dem-1080	187	174	squared	square	VERB
dem-1080	187	175	;	;	PUNCT
dem-1080	187	176	+	+	NUM
dem-1080	187	177	denotes	denote	NOUN
dem-1080	187	178	that	that	SCONJ
dem-1080	187	179	statistic	statistic	ADJ
dem-1080	187	180	value	value	NOUN
dem-1080	187	181	is	be	AUX
dem-1080	187	182	larger	large	ADJ
dem-1080	187	183	than	than	ADP
dem-1080	187	184	the	the	DET
dem-1080	187	185	critical	critical	ADJ
dem-1080	187	186	table	table	NOUN
dem-1080	187	187	value	value	NOUN
dem-1080	187	188	of	of	ADP
dem-1080	187	189	chi	chi	NOUN
dem-1080	187	190	-	-	PUNCT
dem-1080	187	191	squared	square	VERB
dem-1080	187	192	and	and	CCONJ
dem-1080	187	193	gives	give	VERB
dem-1080	187	194	evidence	evidence	NOUN
dem-1080	187	195	of	of	ADP
dem-1080	187	196	the	the	DET
dem-1080	187	197	presence	presence	NOUN
dem-1080	187	198	of	of	ADP
dem-1080	187	199	arch	arch	ADJ
dem-1080	187	200	effect	effect	NOUN
dem-1080	187	201	;	;	PUNCT
dem-1080	187	202	–	–	PUNCT
dem-1080	187	203	denotes	denote	NOUN
dem-1080	187	204	that	that	PRON
dem-1080	187	205	statistic	statistic	ADJ
dem-1080	187	206	value	value	NOUN
dem-1080	187	207	is	be	AUX
dem-1080	187	208	smaller	small	ADJ
dem-1080	187	209	than	than	ADP
dem-1080	187	210	the	the	DET
dem-1080	187	211	critical	critical	ADJ
dem-1080	187	212	table	table	NOUN
dem-1080	187	213	value	value	NOUN
dem-1080	187	214	of	of	ADP
dem-1080	187	215	chi	chi	NOUN
dem-1080	187	216	-	-	PUNCT
dem-1080	187	217	squared	square	VERB
dem-1080	187	218	.	.	PUNCT
dem-1080	188	1	arch	arch	ADJ
dem-1080	188	2	effect	effect	NOUN
dem-1080	188	3	in	in	ADP
dem-1080	188	4	classical	classical	ADJ
dem-1080	188	5	market	market	NOUN
dem-1080	188	6	-	-	PUNCT
dem-1080	188	7	timing	timing	NOUN
dem-1080	188	8	models	model	NOUN
dem-1080	188	9	with	with	ADP
dem-1080	188	10	lagged	lag	VERB
dem-1080	188	11	market	market	NOUN
dem-1080	188	12	variable	variable	NOUN
dem-1080	188	13	…	…	PUNCT
dem-1080	188	14	195	195	NUM
dem-1080	188	15	2.4	2.4	NUM
dem-1080	188	16	.	.	PUNCT
dem-1080	189	1	the	the	DET
dem-1080	189	2	garch	garch	NOUN
dem-1080	189	3	versions	version	NOUN
dem-1080	189	4	of	of	ADP
dem-1080	189	5	market	market	NOUN
dem-1080	189	6	-	-	PUNCT
dem-1080	189	7	timing	timing	NOUN
dem-1080	189	8	models	model	NOUN
dem-1080	189	9	of	of	ADP
dem-1080	189	10	polish	polish	PROPN
dem-1080	189	11	equity	equity	NOUN
dem-1080	189	12	mutual	mutual	ADJ
dem-1080	189	13	funds	fund	NOUN
dem-1080	189	14	hamilton	hamilton	PROPN
dem-1080	189	15	(	(	PUNCT
dem-1080	189	16	2008	2008	NUM
dem-1080	189	17	)	)	PUNCT
dem-1080	189	18	stresses	stress	VERB
dem-1080	189	19	that	that	SCONJ
dem-1080	189	20	even	even	ADV
dem-1080	189	21	if	if	SCONJ
dem-1080	189	22	the	the	DET
dem-1080	189	23	researcher	researcher	NOUN
dem-1080	189	24	’s	’s	PART
dem-1080	189	25	primary	primary	ADJ
dem-1080	189	26	interest	interest	NOUN
dem-1080	189	27	is	be	AUX
dem-1080	189	28	in	in	ADP
dem-1080	189	29	estimating	estimate	VERB
dem-1080	189	30	the	the	DET
dem-1080	189	31	conditional	conditional	ADJ
dem-1080	189	32	mean	mean	NOUN
dem-1080	189	33	,	,	PUNCT
dem-1080	189	34	having	have	VERB
dem-1080	189	35	a	a	DET
dem-1080	189	36	correct	correct	ADJ
dem-1080	189	37	description	description	NOUN
dem-1080	189	38	of	of	ADP
dem-1080	189	39	the	the	DET
dem-1080	189	40	conditional	conditional	ADJ
dem-1080	189	41	variance	variance	NOUN
dem-1080	189	42	can	can	AUX
dem-1080	189	43	still	still	ADV
dem-1080	189	44	be	be	AUX
dem-1080	189	45	quite	quite	ADV
dem-1080	189	46	important	important	ADJ
dem-1080	189	47	.	.	PUNCT
dem-1080	190	1	by	by	ADP
dem-1080	190	2	incorporating	incorporate	VERB
dem-1080	190	3	the	the	DET
dem-1080	190	4	observed	observed	ADJ
dem-1080	190	5	features	feature	NOUN
dem-1080	190	6	of	of	ADP
dem-1080	190	7	the	the	DET
dem-1080	190	8	heteroskedasticity	heteroskedasticity	NOUN
dem-1080	190	9	into	into	ADP
dem-1080	190	10	the	the	DET
dem-1080	190	11	estimation	estimation	NOUN
dem-1080	190	12	of	of	ADP
dem-1080	190	13	the	the	DET
dem-1080	190	14	conditional	conditional	ADJ
dem-1080	190	15	mean	mean	NOUN
dem-1080	190	16	,	,	PUNCT
dem-1080	190	17	substantially	substantially	ADV
dem-1080	190	18	more	more	ADV
dem-1080	190	19	efficient	efficient	ADJ
dem-1080	190	20	estimates	estimate	NOUN
dem-1080	190	21	of	of	ADP
dem-1080	190	22	the	the	DET
dem-1080	190	23	conditional	conditional	ADJ
dem-1080	190	24	mean	mean	NOUN
dem-1080	190	25	can	can	AUX
dem-1080	190	26	be	be	AUX
dem-1080	190	27	obtained	obtain	VERB
dem-1080	190	28	.	.	PUNCT
dem-1080	191	1	the	the	DET
dem-1080	191	2	most	most	ADV
dem-1080	191	3	popular	popular	ADJ
dem-1080	191	4	white	white	NOUN
dem-1080	191	5	or	or	CCONJ
dem-1080	191	6	newey	newey	NOUN
dem-1080	191	7	–	–	PUNCT
dem-1080	191	8	west	west	ADJ
dem-1080	191	9	corrections	correction	NOUN
dem-1080	191	10	may	may	AUX
dem-1080	191	11	not	not	PART
dem-1080	191	12	fully	fully	ADV
dem-1080	191	13	correct	correct	ADJ
dem-1080	191	14	for	for	ADP
dem-1080	191	15	the	the	DET
dem-1080	191	16	influence	influence	NOUN
dem-1080	191	17	problems	problem	NOUN
dem-1080	191	18	introduced	introduce	VERB
dem-1080	191	19	by	by	ADP
dem-1080	191	20	arch	arch	NOUN
dem-1080	191	21	.	.	PUNCT
dem-1080	192	1	the	the	DET
dem-1080	192	2	testing	testing	NOUN
dem-1080	192	3	results	result	VERB
dem-1080	192	4	from	from	ADP
dem-1080	192	5	the	the	DET
dem-1080	192	6	polish	polish	ADJ
dem-1080	192	7	equity	equity	NOUN
dem-1080	192	8	table	table	NOUN
dem-1080	192	9	5a	5a	NUM
dem-1080	192	10	.	.	PUNCT
dem-1080	193	1	the	the	DET
dem-1080	193	2	hac	hac	PROPN
dem-1080	193	3	estimates	estimate	NOUN
dem-1080	193	4	of	of	ADP
dem-1080	193	5	the	the	DET
dem-1080	193	6	t	t	PROPN
dem-1080	193	7	-	-	PUNCT
dem-1080	193	8	m	m	NOUN
dem-1080	193	9	market	market	NOUN
dem-1080	193	10	-	-	PUNCT
dem-1080	193	11	timing	timing	NOUN
dem-1080	193	12	models	model	NOUN
dem-1080	193	13	of	of	ADP
dem-1080	193	14	polish	polish	ADJ
dem-1080	193	15	equity	equity	NOUN
dem-1080	193	16	mutual	mutual	ADJ
dem-1080	193	17	funds	fund	NOUN
dem-1080	193	18	in	in	ADP
dem-1080	193	19	the	the	DET
dem-1080	193	20	entire	entire	ADJ
dem-1080	193	21	period	period	NOUN
dem-1080	193	22	from	from	ADP
dem-1080	193	23	jan	jan	PROPN
dem-1080	193	24	2	2	NUM
dem-1080	193	25	,	,	PUNCT
dem-1080	193	26	2003	2003	NUM
dem-1080	193	27	to	to	ADP
dem-1080	193	28	june	june	PROPN
dem-1080	193	29	30	30	NUM
dem-1080	193	30	,	,	PUNCT
dem-1080	193	31	2011	2011	NUM
dem-1080	193	32	equity	equity	NOUN
dem-1080	193	33	fund	fund	NOUN
dem-1080	193	34	p̂	p̂	PROPN
dem-1080	193	35	1p̂	1p̂	PROPN
dem-1080	193	36	2p	2p	NUM
dem-1080	193	37	p̂	p̂	X
dem-1080	193	38	2r	2r	NUM
dem-1080	193	39	1	1	NUM
dem-1080	193	40	arka	arka	NOUN
dem-1080	193	41	410	410	PROPN
dem-1080	193	42	-	-	SYM
dem-1080	193	43	4	4	NUM
dem-1080	193	44	*	*	NOUN
dem-1080	193	45	*	*	PUNCT
dem-1080	193	46	(	(	PUNCT
dem-1080	193	47	110	110	NUM
dem-1080	193	48	-	-	SYM
dem-1080	193	49	4	4	NUM
dem-1080	193	50	)	)	PUNCT
dem-1080	193	51	0.71	0.71	NUM
dem-1080	193	52	*	*	PUNCT
dem-1080	193	53	*	*	PUNCT
dem-1080	193	54	*	*	PUNCT
dem-1080	193	55	(	(	PUNCT
dem-1080	193	56	0.03	0.03	NUM
dem-1080	193	57	)	)	PUNCT
dem-1080	193	58	0.14	0.14	NUM
dem-1080	193	59	*	*	PUNCT
dem-1080	193	60	*	*	PUNCT
dem-1080	193	61	*	*	PUNCT
dem-1080	193	62	(	(	PUNCT
dem-1080	193	63	0.03	0.03	NUM
dem-1080	193	64	)	)	PUNCT
dem-1080	193	65	-1.86	-1.86	NOUN
dem-1080	193	66	*	*	NOUN
dem-1080	193	67	*	*	PUNCT
dem-1080	193	68	(	(	PUNCT
dem-1080	193	69	0.83	0.83	NUM
dem-1080	193	70	)	)	PUNCT
dem-1080	193	71	0.66	0.66	NUM
dem-1080	193	72	2	2	NUM
dem-1080	193	73	aviva	aviva	NOUN
dem-1080	193	74	310	310	PROPN
dem-1080	193	75	-	-	SYM
dem-1080	193	76	4	4	NUM
dem-1080	193	77	*	*	NOUN
dem-1080	193	78	*	*	PUNCT
dem-1080	193	79	(	(	PUNCT
dem-1080	193	80	110	110	NUM
dem-1080	193	81	-	-	SYM
dem-1080	193	82	4	4	NUM
dem-1080	193	83	)	)	PUNCT
dem-1080	193	84	0.75	0.75	NUM
dem-1080	193	85	*	*	PUNCT
dem-1080	193	86	*	*	PUNCT
dem-1080	193	87	*	*	PUNCT
dem-1080	193	88	(	(	PUNCT
dem-1080	193	89	0.03	0.03	NUM
dem-1080	193	90	)	)	PUNCT
dem-1080	193	91	0.15	0.15	NUM
dem-1080	193	92	*	*	PUNCT
dem-1080	193	93	*	*	PUNCT
dem-1080	193	94	*	*	PUNCT
dem-1080	193	95	(	(	PUNCT
dem-1080	193	96	0.02	0.02	NUM
dem-1080	193	97	)	)	PUNCT
dem-1080	193	98	-1.45	-1.45	NOUN
dem-1080	193	99	*	*	PUNCT
dem-1080	193	100	*	*	PUNCT
dem-1080	193	101	(	(	PUNCT
dem-1080	193	102	0.69	0.69	NUM
dem-1080	193	103	)	)	PUNCT
dem-1080	193	104	0.73	0.73	NUM
dem-1080	193	105	3	3	NUM
dem-1080	193	106	bph	bph	NOUN
dem-1080	193	107	210	210	NUM
dem-1080	193	108	-	-	SYM
dem-1080	193	109	5	5	NUM
dem-1080	193	110	(	(	PUNCT
dem-1080	193	111	110	110	NUM
dem-1080	193	112	-	-	SYM
dem-1080	193	113	4	4	NUM
dem-1080	193	114	)	)	PUNCT
dem-1080	193	115	0.72	0.72	NUM
dem-1080	193	116	*	*	PUNCT
dem-1080	193	117	*	*	PUNCT
dem-1080	193	118	*	*	PUNCT
dem-1080	193	119	(	(	PUNCT
dem-1080	193	120	0.02	0.02	NUM
dem-1080	193	121	)	)	PUNCT
dem-1080	193	122	0.12	0.12	NUM
dem-1080	193	123	*	*	PUNCT
dem-1080	193	124	*	*	PUNCT
dem-1080	193	125	*	*	PUNCT
dem-1080	193	126	(	(	PUNCT
dem-1080	193	127	0.02	0.02	NUM
dem-1080	193	128	)	)	PUNCT
dem-1080	193	129	-0.56	-0.56	NUM
dem-1080	193	130	(	(	PUNCT
dem-1080	193	131	0.48	0.48	NUM
dem-1080	193	132	)	)	PUNCT
dem-1080	193	133	0.76	0.76	NUM
dem-1080	193	134	4	4	NUM
dem-1080	193	135	ing	ing	ADJ
dem-1080	193	136	-210	-210	NUM
dem-1080	193	137	-	-	SYM
dem-1080	193	138	6	6	NUM
dem-1080	193	139	(	(	PUNCT
dem-1080	193	140	110	110	NUM
dem-1080	193	141	-	-	SYM
dem-1080	193	142	4	4	NUM
dem-1080	193	143	)	)	PUNCT
dem-1080	193	144	0.76	0.76	NUM
dem-1080	193	145	*	*	PUNCT
dem-1080	193	146	*	*	PUNCT
dem-1080	193	147	*	*	PUNCT
dem-1080	193	148	(	(	PUNCT
dem-1080	193	149	0.02	0.02	NUM
dem-1080	193	150	)	)	PUNCT
dem-1080	193	151	0.13	0.13	NUM
dem-1080	193	152	*	*	PUNCT
dem-1080	193	153	*	*	PUNCT
dem-1080	193	154	*	*	PUNCT
dem-1080	193	155	(	(	PUNCT
dem-1080	193	156	0.02	0.02	NUM
dem-1080	193	157	)	)	PUNCT
dem-1080	193	158	-0.48	-0.48	NOUN
dem-1080	193	159	(	(	PUNCT
dem-1080	193	160	0.43	0.43	NUM
dem-1080	193	161	)	)	PUNCT
dem-1080	193	162	0.74	0.74	NUM
dem-1080	193	163	5	5	NUM
dem-1080	193	164	investor	investor	NOUN
dem-1080	193	165	25	25	NUM
dem-1080	193	166	210	210	NUM
dem-1080	193	167	-	-	SYM
dem-1080	193	168	4	4	NUM
dem-1080	193	169	(	(	PUNCT
dem-1080	193	170	210	210	NUM
dem-1080	193	171	-	-	SYM
dem-1080	193	172	4	4	NUM
dem-1080	193	173	)	)	PUNCT
dem-1080	193	174	0.39	0.39	NUM
dem-1080	193	175	*	*	PUNCT
dem-1080	193	176	*	*	PUNCT
dem-1080	193	177	*	*	PUNCT
dem-1080	193	178	(	(	PUNCT
dem-1080	193	179	0.02	0.02	NUM
dem-1080	193	180	)	)	PUNCT
dem-1080	193	181	0.31	0.31	NUM
dem-1080	193	182	*	*	PUNCT
dem-1080	193	183	*	*	PUNCT
dem-1080	193	184	*	*	PUNCT
dem-1080	193	185	(	(	PUNCT
dem-1080	193	186	0.03	0.03	NUM
dem-1080	193	187	)	)	PUNCT
dem-1080	193	188	-1.76	-1.76	NOUN
dem-1080	193	189	*	*	PUNCT
dem-1080	193	190	*	*	PUNCT
dem-1080	193	191	(	(	PUNCT
dem-1080	193	192	0.85	0.85	NUM
dem-1080	193	193	)	)	PUNCT
dem-1080	193	194	0.39	0.39	NUM
dem-1080	193	195	6	6	NUM
dem-1080	193	196	investor	investor	NOUN
dem-1080	193	197	ads	ad	NOUN
dem-1080	193	198	-110	-110	NUM
dem-1080	193	199	-	-	SYM
dem-1080	193	200	4	4	NUM
dem-1080	193	201	(	(	PUNCT
dem-1080	193	202	210	210	NUM
dem-1080	193	203	-	-	SYM
dem-1080	193	204	4	4	NUM
dem-1080	193	205	)	)	PUNCT
dem-1080	193	206	0.63	0.63	NUM
dem-1080	193	207	*	*	PUNCT
dem-1080	193	208	*	*	PUNCT
dem-1080	193	209	*	*	PUNCT
dem-1080	193	210	(	(	PUNCT
dem-1080	193	211	0.03	0.03	NUM
dem-1080	193	212	)	)	PUNCT
dem-1080	193	213	0.38	0.38	NUM
dem-1080	193	214	*	*	PUNCT
dem-1080	193	215	*	*	PUNCT
dem-1080	193	216	*	*	PUNCT
dem-1080	193	217	(	(	PUNCT
dem-1080	193	218	0.03	0.03	NUM
dem-1080	193	219	)	)	PUNCT
dem-1080	193	220	-0.55	-0.55	NOUN
dem-1080	193	221	(	(	PUNCT
dem-1080	193	222	1.26	1.26	NUM
dem-1080	193	223	)	)	PUNCT
dem-1080	193	224	0.55	0.55	NUM
dem-1080	193	225	7	7	NUM
dem-1080	193	226	investor	investor	NOUN
dem-1080	193	227	-410	-410	PROPN
dem-1080	193	228	-	-	SYM
dem-1080	193	229	5	5	NUM
dem-1080	193	230	(	(	PUNCT
dem-1080	193	231	110	110	NUM
dem-1080	193	232	-	-	SYM
dem-1080	193	233	4	4	NUM
dem-1080	193	234	)	)	PUNCT
dem-1080	193	235	0.54	0.54	NUM
dem-1080	193	236	*	*	PUNCT
dem-1080	193	237	*	*	PUNCT
dem-1080	193	238	*	*	PUNCT
dem-1080	193	239	(	(	PUNCT
dem-1080	193	240	0.03	0.03	NUM
dem-1080	193	241	)	)	PUNCT
dem-1080	193	242	0.37	0.37	NUM
dem-1080	193	243	*	*	PUNCT
dem-1080	193	244	*	*	PUNCT
dem-1080	193	245	*	*	PUNCT
dem-1080	193	246	(	(	PUNCT
dem-1080	193	247	0.03	0.03	NUM
dem-1080	193	248	)	)	PUNCT
dem-1080	193	249	-0.75	-0.75	NUM
dem-1080	193	250	(	(	PUNCT
dem-1080	193	251	0.86	0.86	NUM
dem-1080	193	252	)	)	PUNCT
dem-1080	193	253	0.55	0.55	NUM
dem-1080	193	254	8	8	NUM
dem-1080	193	255	legg	legg	NOUN
dem-1080	193	256	mason	mason	PROPN
dem-1080	193	257	210	210	PROPN
dem-1080	193	258	-	-	SYM
dem-1080	193	259	4	4	NUM
dem-1080	193	260	*	*	PUNCT
dem-1080	193	261	(	(	PUNCT
dem-1080	193	262	910	910	NUM
dem-1080	193	263	-	-	SYM
dem-1080	193	264	5	5	NUM
dem-1080	193	265	)	)	PUNCT
dem-1080	193	266	0.69	0.69	NUM
dem-1080	193	267	*	*	PUNCT
dem-1080	193	268	*	*	PUNCT
dem-1080	193	269	*	*	PUNCT
dem-1080	193	270	(	(	PUNCT
dem-1080	193	271	0.02	0.02	NUM
dem-1080	193	272	)	)	PUNCT
dem-1080	193	273	0.12	0.12	NUM
dem-1080	193	274	*	*	PUNCT
dem-1080	193	275	*	*	PUNCT
dem-1080	193	276	*	*	PUNCT
dem-1080	193	277	(	(	PUNCT
dem-1080	193	278	0.02	0.02	NUM
dem-1080	193	279	)	)	PUNCT
dem-1080	193	280	-0.68	-0.68	NOUN
dem-1080	193	281	(	(	PUNCT
dem-1080	193	282	0.51	0.51	NUM
dem-1080	193	283	)	)	PUNCT
dem-1080	193	284	0.74	0.74	NUM
dem-1080	193	285	9	9	NUM
dem-1080	193	286	millennium	millennium	NOUN
dem-1080	193	287	-410	-410	PROPN
dem-1080	193	288	-	-	SYM
dem-1080	193	289	6	6	NUM
dem-1080	193	290	(	(	PUNCT
dem-1080	193	291	110	110	NUM
dem-1080	193	292	-	-	SYM
dem-1080	193	293	4	4	NUM
dem-1080	193	294	)	)	PUNCT
dem-1080	193	295	0.69	0.69	NUM
dem-1080	193	296	*	*	PUNCT
dem-1080	193	297	*	*	PUNCT
dem-1080	193	298	*	*	PUNCT
dem-1080	193	299	(	(	PUNCT
dem-1080	193	300	0.02	0.02	NUM
dem-1080	193	301	)	)	PUNCT
dem-1080	193	302	0.13	0.13	NUM
dem-1080	193	303	*	*	PUNCT
dem-1080	193	304	*	*	PUNCT
dem-1080	193	305	*	*	PUNCT
dem-1080	193	306	(	(	PUNCT
dem-1080	193	307	0.02	0.02	NUM
dem-1080	193	308	)	)	PUNCT
dem-1080	193	309	-0.76	-0.76	PROPN
dem-1080	193	310	(	(	PUNCT
dem-1080	193	311	0.57	0.57	NUM
dem-1080	193	312	)	)	PUNCT
dem-1080	193	313	0.72	0.72	NUM
dem-1080	193	314	10	10	NUM
dem-1080	193	315	novo	novo	NOUN
dem-1080	193	316	810	810	NUM
dem-1080	193	317	-	-	SYM
dem-1080	193	318	5	5	NUM
dem-1080	193	319	(	(	PUNCT
dem-1080	193	320	210	210	NUM
dem-1080	193	321	-	-	SYM
dem-1080	193	322	4	4	NUM
dem-1080	193	323	)	)	PUNCT
dem-1080	193	324	0.48	0.48	NUM
dem-1080	193	325	*	*	PUNCT
dem-1080	193	326	*	*	PUNCT
dem-1080	193	327	*	*	PUNCT
dem-1080	193	328	(	(	PUNCT
dem-1080	193	329	0.03	0.03	NUM
dem-1080	193	330	)	)	PUNCT
dem-1080	193	331	0.45	0.45	NUM
dem-1080	193	332	*	*	PUNCT
dem-1080	193	333	*	*	PUNCT
dem-1080	193	334	*	*	PUNCT
dem-1080	193	335	(	(	PUNCT
dem-1080	193	336	0.02	0.02	NUM
dem-1080	193	337	)	)	PUNCT
dem-1080	193	338	-1.20	-1.20	NUM
dem-1080	193	339	(	(	PUNCT
dem-1080	193	340	1.14	1.14	NUM
dem-1080	193	341	)	)	PUNCT
dem-1080	193	342	0.55	0.55	NUM
dem-1080	193	343	11	11	NUM
dem-1080	193	344	pioneer	pioneer	NOUN
dem-1080	193	345	-910	-910	PROPN
dem-1080	193	346	-	-	PUNCT
dem-1080	193	347	5	5	NUM
dem-1080	193	348	(	(	PUNCT
dem-1080	193	349	110	110	NUM
dem-1080	193	350	-	-	SYM
dem-1080	193	351	4	4	NUM
dem-1080	193	352	)	)	PUNCT
dem-1080	193	353	0.80	0.80	NUM
dem-1080	193	354	*	*	PUNCT
dem-1080	193	355	*	*	PUNCT
dem-1080	193	356	*	*	PUNCT
dem-1080	193	357	(	(	PUNCT
dem-1080	193	358	0.03	0.03	NUM
dem-1080	193	359	)	)	PUNCT
dem-1080	193	360	0.16	0.16	NUM
dem-1080	193	361	*	*	PUNCT
dem-1080	193	362	*	*	PUNCT
dem-1080	193	363	*	*	PUNCT
dem-1080	193	364	(	(	PUNCT
dem-1080	193	365	0.02	0.02	NUM
dem-1080	193	366	)	)	PUNCT
dem-1080	193	367	-1.13	-1.13	NOUN
dem-1080	193	368	(	(	PUNCT
dem-1080	193	369	0.81	0.81	NUM
dem-1080	193	370	)	)	PUNCT
dem-1080	193	371	0.74	0.74	NUM
dem-1080	193	372	12	12	NUM
dem-1080	193	373	pko	pko	PROPN
dem-1080	193	374	610	610	PROPN
dem-1080	193	375	-	-	SYM
dem-1080	193	376	5	5	NUM
dem-1080	193	377	(	(	PUNCT
dem-1080	193	378	210	210	NUM
dem-1080	193	379	-	-	SYM
dem-1080	193	380	4	4	NUM
dem-1080	193	381	)	)	PUNCT
dem-1080	193	382	0.55	0.55	NUM
dem-1080	193	383	*	*	PUNCT
dem-1080	193	384	*	*	PUNCT
dem-1080	193	385	*	*	PUNCT
dem-1080	193	386	(	(	PUNCT
dem-1080	193	387	0.03	0.03	NUM
dem-1080	193	388	)	)	PUNCT
dem-1080	193	389	0.28	0.28	NUM
dem-1080	193	390	*	*	PUNCT
dem-1080	193	391	*	*	PUNCT
dem-1080	193	392	*	*	PUNCT
dem-1080	193	393	(	(	PUNCT
dem-1080	193	394	0.03	0.03	NUM
dem-1080	193	395	)	)	PUNCT
dem-1080	193	396	-1.66	-1.66	NOUN
dem-1080	193	397	(	(	PUNCT
dem-1080	193	398	1.19	1.19	NUM
dem-1080	193	399	)	)	PUNCT
dem-1080	193	400	0.56	0.56	NUM
dem-1080	193	401	13	13	NUM
dem-1080	193	402	pzu	pzu	NOUN
dem-1080	193	403	310	310	PROPN
dem-1080	193	404	-	-	SYM
dem-1080	193	405	5	5	NUM
dem-1080	193	406	(	(	PUNCT
dem-1080	193	407	110	110	NUM
dem-1080	193	408	-	-	SYM
dem-1080	193	409	4	4	NUM
dem-1080	193	410	)	)	PUNCT
dem-1080	193	411	0.71	0.71	NUM
dem-1080	193	412	*	*	PUNCT
dem-1080	193	413	*	*	PUNCT
dem-1080	193	414	*	*	PUNCT
dem-1080	193	415	(	(	PUNCT
dem-1080	193	416	0.02	0.02	NUM
dem-1080	193	417	)	)	PUNCT
dem-1080	193	418	0.12	0.12	NUM
dem-1080	193	419	*	*	PUNCT
dem-1080	193	420	*	*	PUNCT
dem-1080	193	421	*	*	PUNCT
dem-1080	193	422	(	(	PUNCT
dem-1080	193	423	0.02	0.02	NUM
dem-1080	193	424	)	)	PUNCT
dem-1080	193	425	-0.98	-0.98	NOUN
dem-1080	194	1	*	*	PUNCT
dem-1080	194	2	*	*	PUNCT
dem-1080	194	3	(	(	PUNCT
dem-1080	194	4	0.49	0.49	NUM
dem-1080	194	5	)	)	PUNCT
dem-1080	194	6	0.73	0.73	NUM
dem-1080	194	7	14	14	NUM
dem-1080	194	8	skarbiec	skarbiec	NOUN
dem-1080	194	9	-410	-410	PROPN
dem-1080	194	10	-	-	SYM
dem-1080	194	11	6	6	NUM
dem-1080	194	12	(	(	PUNCT
dem-1080	194	13	110	110	NUM
dem-1080	194	14	-	-	SYM
dem-1080	194	15	4	4	NUM
dem-1080	194	16	)	)	PUNCT
dem-1080	194	17	0.46	0.46	NUM
dem-1080	194	18	*	*	PUNCT
dem-1080	194	19	*	*	PUNCT
dem-1080	194	20	*	*	PUNCT
dem-1080	194	21	(	(	PUNCT
dem-1080	194	22	0.03	0.03	NUM
dem-1080	194	23	)	)	PUNCT
dem-1080	194	24	0.38	0.38	NUM
dem-1080	194	25	*	*	PUNCT
dem-1080	194	26	*	*	PUNCT
dem-1080	194	27	*	*	PUNCT
dem-1080	194	28	(	(	PUNCT
dem-1080	194	29	0.03	0.03	NUM
dem-1080	194	30	)	)	PUNCT
dem-1080	194	31	0.15	0.15	NUM
dem-1080	194	32	(	(	PUNCT
dem-1080	194	33	0.73	0.73	NUM
dem-1080	194	34	)	)	PUNCT
dem-1080	194	35	0.51	0.51	NUM
dem-1080	194	36	15	15	NUM
dem-1080	194	37	unikorona	unikorona	NOUN
dem-1080	194	38	110	110	NUM
dem-1080	194	39	-	-	SYM
dem-1080	194	40	4	4	NUM
dem-1080	194	41	(	(	PUNCT
dem-1080	194	42	110	110	NUM
dem-1080	194	43	-	-	SYM
dem-1080	194	44	4	4	NUM
dem-1080	194	45	)	)	PUNCT
dem-1080	194	46	0.48	0.48	NUM
dem-1080	194	47	*	*	PUNCT
dem-1080	194	48	*	*	PUNCT
dem-1080	194	49	*	*	PUNCT
dem-1080	194	50	(	(	PUNCT
dem-1080	194	51	0.03	0.03	NUM
dem-1080	194	52	)	)	PUNCT
dem-1080	194	53	0.45***(0.03	0.45***(0.03	NUM
dem-1080	194	54	)	)	PUNCT
dem-1080	194	55	-0.54	-0.54	NOUN
dem-1080	194	56	(	(	PUNCT
dem-1080	194	57	0.89	0.89	NUM
dem-1080	194	58	)	)	PUNCT
dem-1080	194	59	0.55	0.55	NUM
dem-1080	194	60	note	note	NOUN
dem-1080	194	61	:	:	PUNCT
dem-1080	194	62	the	the	DET
dem-1080	194	63	table	table	NOUN
dem-1080	194	64	is	be	AUX
dem-1080	194	65	based	base	VERB
dem-1080	194	66	on	on	ADP
dem-1080	194	67	the	the	DET
dem-1080	194	68	entire	entire	ADJ
dem-1080	194	69	sample	sample	NOUN
dem-1080	194	70	p1	p1	NOUN
dem-1080	194	71	;	;	PUNCT
dem-1080	194	72	t	t	PROPN
dem-1080	194	73	-	-	PUNCT
dem-1080	194	74	m	m	PROPN
dem-1080	194	75	(	(	PUNCT
dem-1080	194	76	2	2	NUM
dem-1080	194	77	)	)	PUNCT
dem-1080	194	78	is	be	AUX
dem-1080	194	79	the	the	DET
dem-1080	194	80	classical	classical	ADJ
dem-1080	194	81	treynor	treynor	NOUN
dem-1080	194	82	-	-	PUNCT
dem-1080	194	83	mazuy	mazuy	NOUN
dem-1080	194	84	model	model	NOUN
dem-1080	194	85	with	with	ADP
dem-1080	194	86	the	the	DET
dem-1080	194	87	lagged	lag	VERB
dem-1080	194	88	excess	excess	ADJ
dem-1080	194	89	return	return	NOUN
dem-1080	194	90	on	on	ADP
dem-1080	194	91	market	market	NOUN
dem-1080	194	92	portfolio	portfolio	NOUN
dem-1080	194	93	m	m	VERB
dem-1080	194	94	as	as	ADP
dem-1080	194	95	additional	additional	ADJ
dem-1080	194	96	factor	factor	NOUN
dem-1080	194	97	;	;	PUNCT
dem-1080	194	98	the	the	DET
dem-1080	194	99	heteroskedastic	heteroskedastic	ADJ
dem-1080	194	100	consistent	consistent	ADJ
dem-1080	194	101	standard	standard	ADJ
dem-1080	194	102	errors	error	NOUN
dem-1080	194	103	are	be	AUX
dem-1080	194	104	in	in	ADP
dem-1080	194	105	parentheses	parenthesis	NOUN
dem-1080	194	106	next	next	ADV
dem-1080	194	107	to	to	ADP
dem-1080	194	108	the	the	DET
dem-1080	194	109	coefficient	coefficient	NOUN
dem-1080	194	110	estimates	estimate	NOUN
dem-1080	194	111	;	;	PUNCT
dem-1080	194	112	the	the	DET
dem-1080	194	113	values	value	NOUN
dem-1080	194	114	of	of	ADP
dem-1080	194	115	the	the	DET
dem-1080	194	116	adjusted	adjust	VERB
dem-1080	194	117	determination	determination	NOUN
dem-1080	194	118	coefficient	coefficient	NOUN
dem-1080	194	119	are	be	AUX
dem-1080	194	120	in	in	ADP
dem-1080	194	121	the	the	DET
dem-1080	194	122	last	last	ADJ
dem-1080	194	123	column	column	NOUN
dem-1080	194	124	;	;	PUNCT
dem-1080	194	125	*	*	PUNCT
dem-1080	194	126	significant	significant	ADJ
dem-1080	194	127	at	at	ADP
dem-1080	194	128	the	the	DET
dem-1080	194	129	10	10	NUM
dem-1080	194	130	per	per	NOUN
dem-1080	194	131	cent	cent	NOUN
dem-1080	194	132	level	level	NOUN
dem-1080	194	133	;	;	PUNCT
dem-1080	195	1	*	*	PUNCT
dem-1080	195	2	*	*	PUNCT
dem-1080	195	3	significant	significant	ADJ
dem-1080	195	4	at	at	ADP
dem-1080	195	5	the	the	DET
dem-1080	195	6	5	5	NUM
dem-1080	195	7	per	per	NOUN
dem-1080	195	8	cent	cent	NOUN
dem-1080	195	9	level	level	NOUN
dem-1080	195	10	;	;	PUNCT
dem-1080	195	11	*	*	PUNCT
dem-1080	195	12	*	*	PUNCT
dem-1080	195	13	*	*	PUNCT
dem-1080	195	14	significant	significant	ADJ
dem-1080	195	15	at	at	ADP
dem-1080	195	16	the	the	DET
dem-1080	195	17	1	1	NUM
dem-1080	195	18	per	per	NOUN
dem-1080	195	19	cent	cent	NOUN
dem-1080	195	20	level	level	NOUN
dem-1080	195	21	.	.	PUNCT
dem-1080	196	1	mutual	mutual	ADJ
dem-1080	196	2	funds	fund	NOUN
dem-1080	196	3	dataset	dataset	VERB
dem-1080	196	4	show	show	NOUN
dem-1080	196	5	pronounced	pronounce	VERB
dem-1080	196	6	arch	arch	ADJ
dem-1080	196	7	effect	effect	NOUN
dem-1080	196	8	in	in	ADP
dem-1080	196	9	market	market	NOUN
dem-1080	196	10	-	-	PUNCT
dem-1080	196	11	timing	timing	NOUN
dem-1080	196	12	models	model	NOUN
dem-1080	196	13	(	(	PUNCT
dem-1080	196	14	tables	table	NOUN
dem-1080	196	15	3–4	3–4	NUM
dem-1080	196	16	)	)	PUNCT
dem-1080	196	17	.	.	PUNCT
dem-1080	197	1	for	for	ADP
dem-1080	197	2	this	this	DET
dem-1080	197	3	reason	reason	NOUN
dem-1080	197	4	,	,	PUNCT
dem-1080	197	5	the	the	DET
dem-1080	197	6	estimation	estimation	NOUN
dem-1080	197	7	of	of	ADP
dem-1080	197	8	the	the	DET
dem-1080	197	9	market	market	NOUN
dem-1080	197	10	-	-	PUNCT
dem-1080	197	11	timing	timing	NOUN
dem-1080	197	12	models	model	NOUN
dem-1080	197	13	as	as	ADP
dem-1080	197	14	the	the	DET
dem-1080	197	15	garch(p	garch(p	PROPN
dem-1080	197	16	,	,	PUNCT
dem-1080	197	17	q	q	NOUN
dem-1080	197	18	)	)	PUNCT
dem-1080	197	19	models	model	NOUN
dem-1080	197	20	is	be	AUX
dem-1080	197	21	well	well	ADV
dem-1080	197	22	-	-	PUNCT
dem-1080	197	23	founded	found	VERB
dem-1080	197	24	.	.	PUNCT
dem-1080	198	1	although	although	SCONJ
dem-1080	198	2	the	the	DET
dem-1080	198	3	arch(q	arch(q	NOUN
dem-1080	198	4	)	)	PUNCT
dem-1080	198	5	model	model	NOUN
dem-1080	198	6	(	(	PUNCT
dem-1080	198	7	6	6	NUM
dem-1080	198	8	)	)	PUNCT
dem-1080	198	9	is	be	AUX
dem-1080	198	10	simple	simple	ADJ
dem-1080	198	11	,	,	PUNCT
dem-1080	198	12	it	it	PRON
dem-1080	198	13	often	often	ADV
dem-1080	198	14	requires	require	VERB
dem-1080	198	15	many	many	ADJ
dem-1080	198	16	parameters	parameter	NOUN
dem-1080	198	17	to	to	PART
dem-1080	198	18	adequately	adequately	ADV
dem-1080	198	19	describe	describe	VERB
dem-1080	198	20	the	the	DET
dem-1080	198	21	volatility	volatility	NOUN
dem-1080	198	22	process	process	NOUN
dem-1080	198	23	.	.	PUNCT
dem-1080	199	1	the	the	DET
dem-1080	199	2	modeling	modeling	NOUN
dem-1080	199	3	procedure	procedure	NOUN
dem-1080	199	4	of	of	ADP
dem-1080	199	5	the	the	DET
dem-1080	199	6	arch(q	arch(q	NOUN
dem-1080	199	7	)	)	PUNCT
dem-1080	199	8	model	model	NOUN
dem-1080	199	9	can	can	AUX
dem-1080	199	10	also	also	ADV
dem-1080	199	11	be	be	AUX
dem-1080	199	12	used	use	VERB
dem-1080	199	13	to	to	PART
dem-1080	199	14	build	build	VERB
dem-1080	199	15	a	a	DET
dem-1080	199	16	garch(p	garch(p	PROPN
dem-1080	199	17	,	,	PUNCT
dem-1080	199	18	q	q	NOUN
dem-1080	199	19	)	)	PUNCT
dem-1080	199	20	model	model	NOUN
dem-1080	199	21	(	(	PUNCT
dem-1080	199	22	8)	8)	NUM
dem-1080	199	23	.	.	PUNCT
dem-1080	199	24	however	however	ADV
dem-1080	199	25	,	,	PUNCT
dem-1080	199	26	specifying	specify	VERB
dem-1080	199	27	the	the	DET
dem-1080	199	28	order	order	NOUN
dem-1080	199	29	of	of	ADP
dem-1080	199	30	a	a	DET
dem-1080	199	31	garch(p	garch(p	PROPN
dem-1080	199	32	,	,	PUNCT
dem-1080	199	33	q	q	NOUN
dem-1080	199	34	)	)	PUNCT
dem-1080	199	35	model	model	NOUN
dem-1080	199	36	is	be	AUX
dem-1080	199	37	not	not	PART
dem-1080	199	38	easy	easy	ADJ
dem-1080	199	39	.	.	PUNCT
dem-1080	200	1	only	only	ADV
dem-1080	200	2	the	the	DET
dem-1080	200	3	lower	low	ADJ
dem-1080	200	4	order	order	NOUN
dem-1080	200	5	garch	garch	NOUN
dem-1080	200	6	models	model	NOUN
dem-1080	200	7	are	be	AUX
dem-1080	200	8	used	use	VERB
dem-1080	200	9	in	in	ADP
dem-1080	200	10	most	most	ADJ
dem-1080	200	11	applications	application	NOUN
dem-1080	200	12	,	,	PUNCT
dem-1080	200	13	i.e.	i.e.	X
dem-1080	200	14	garch(1,1	garch(1,1	NOUN
dem-1080	200	15	)	)	PUNCT
dem-1080	200	16	,	,	PUNCT
dem-1080	200	17	garch(1,2	garch(1,2	NOUN
dem-1080	200	18	)	)	PUNCT
dem-1080	200	19	,	,	PUNCT
dem-1080	200	20	garch(2,1	garch(2,1	NOUN
dem-1080	200	21	)	)	PUNCT
dem-1080	200	22	,	,	PUNCT
dem-1080	200	23	and	and	CCONJ
dem-1080	200	24	garch(2,2	garch(2,2	NOUN
dem-1080	200	25	)	)	PUNCT
dem-1080	200	26	models	model	NOUN
dem-1080	200	27	(	(	PUNCT
dem-1080	200	28	tsay	tsay	PROPN
dem-1080	200	29	,	,	PUNCT
dem-1080	200	30	2010	2010	NUM
dem-1080	200	31	)	)	PUNCT
dem-1080	200	32	.	.	PUNCT
dem-1080	201	1	according	accord	VERB
dem-1080	201	2	to	to	ADP
dem-1080	201	3	the	the	DET
dem-1080	201	4	literature	literature	NOUN
dem-1080	201	5	,	,	PUNCT
dem-1080	201	6	garch(p	garch(p	PROPN
dem-1080	201	7	,	,	PUNCT
dem-1080	201	8	q	q	NOUN
dem-1080	201	9	)	)	PUNCT
dem-1080	201	10	models	model	NOUN
dem-1080	201	11	are	be	AUX
dem-1080	201	12	usually	usually	ADV
dem-1080	201	13	compared	compare	VERB
dem-1080	201	14	and	and	CCONJ
dem-1080	201	15	selected	select	VERB
dem-1080	201	16	by	by	ADP
dem-1080	201	17	the	the	DET
dem-1080	201	18	information	information	NOUN
dem-1080	201	19	criterion	criterion	NOUN
dem-1080	201	20	of	of	ADP
dem-1080	201	21	akaike	akaike	ADJ
dem-1080	201	22	(	(	PUNCT
dem-1080	201	23	aic	aic	PROPN
dem-1080	201	24	)	)	PUNCT
dem-1080	201	25	and	and	CCONJ
dem-1080	201	26	the	the	DET
dem-1080	201	27	information	information	NOUN
dem-1080	201	28	criterion	criterion	NOUN
dem-1080	201	29	of	of	ADP
dem-1080	201	30	schwartz	schwartz	PROPN
dem-1080	201	31	(	(	PUNCT
dem-1080	201	32	sc	sc	PROPN
dem-1080	201	33	)	)	PUNCT
dem-1080	201	34	.	.	PUNCT
dem-1080	202	1	lower	low	ADJ
dem-1080	202	2	values	value	NOUN
dem-1080	202	3	of	of	ADP
dem-1080	202	4	joanna	joanna	PROPN
dem-1080	202	5	olbryś	olbryś	PROPN
dem-1080	202	6	196	196	NUM
dem-1080	202	7	the	the	DET
dem-1080	202	8	aic	aic	PROPN
dem-1080	202	9	and	and	CCONJ
dem-1080	202	10	sc	sc	PROPN
dem-1080	202	11	indexes	index	NOUN
dem-1080	202	12	indicate	indicate	VERB
dem-1080	202	13	the	the	DET
dem-1080	202	14	preferred	preferred	ADJ
dem-1080	202	15	model	model	NOUN
dem-1080	202	16	,	,	PUNCT
dem-1080	202	17	that	that	ADV
dem-1080	202	18	is	is	ADV
dem-1080	202	19	,	,	PUNCT
dem-1080	202	20	the	the	DET
dem-1080	202	21	one	one	NOUN
dem-1080	202	22	with	with	ADP
dem-1080	202	23	the	the	DET
dem-1080	202	24	fewest	few	ADJ
dem-1080	202	25	parameters	parameter	NOUN
dem-1080	202	26	that	that	PRON
dem-1080	202	27	still	still	ADV
dem-1080	202	28	provides	provide	VERB
dem-1080	202	29	an	an	DET
dem-1080	202	30	adequate	adequate	ADJ
dem-1080	202	31	fit	fit	NOUN
dem-1080	202	32	to	to	ADP
dem-1080	202	33	the	the	DET
dem-1080	202	34	data2	data2	PROPN
dem-1080	202	35	.	.	PUNCT
dem-1080	203	1	as	as	ADP
dem-1080	203	2	an	an	DET
dem-1080	203	3	example	example	NOUN
dem-1080	203	4	,	,	PUNCT
dem-1080	203	5	we	we	PRON
dem-1080	203	6	present	present	VERB
dem-1080	203	7	the	the	DET
dem-1080	203	8	comparison	comparison	NOUN
dem-1080	203	9	of	of	ADP
dem-1080	203	10	the	the	DET
dem-1080	203	11	estimation	estimation	NOUN
dem-1080	203	12	results	result	NOUN
dem-1080	203	13	of	of	ADP
dem-1080	203	14	market	market	NOUN
dem-1080	203	15	-	-	PUNCT
dem-1080	203	16	timing	timing	NOUN
dem-1080	203	17	models	model	NOUN
dem-1080	203	18	t	t	PROPN
dem-1080	203	19	-	-	PUNCT
dem-1080	203	20	m	m	PROPN
dem-1080	203	21	and	and	CCONJ
dem-1080	203	22	h	h	NOUN
dem-1080	203	23	-	-	PUNCT
dem-1080	203	24	m	m	NOUN
dem-1080	203	25	of	of	ADP
dem-1080	203	26	polish	polish	ADJ
dem-1080	203	27	equity	equity	NOUN
dem-1080	203	28	mutual	mutual	ADJ
dem-1080	203	29	funds	fund	NOUN
dem-1080	203	30	in	in	ADP
dem-1080	203	31	the	the	DET
dem-1080	203	32	entire	entire	ADJ
dem-1080	203	33	period	period	NOUN
dem-1080	203	34	from	from	ADP
dem-1080	203	35	jan	jan	PROPN
dem-1080	203	36	2	2	NUM
dem-1080	203	37	,	,	PUNCT
dem-1080	203	38	2003	2003	NUM
dem-1080	203	39	to	to	ADP
dem-1080	203	40	june	june	PROPN
dem-1080	203	41	30	30	NUM
dem-1080	203	42	,	,	PUNCT
dem-1080	203	43	2011	2011	NUM
dem-1080	203	44	.	.	PUNCT
dem-1080	204	1	we	we	PRON
dem-1080	204	2	use	use	VERB
dem-1080	204	3	the	the	DET
dem-1080	204	4	newey	newey	PROPN
dem-1080	204	5	-	-	PUNCT
dem-1080	204	6	west	west	ADJ
dem-1080	204	7	robust	robust	ADJ
dem-1080	204	8	estimates	estimate	NOUN
dem-1080	204	9	(	(	PUNCT
dem-1080	204	10	hac	hac	NOUN
dem-1080	204	11	)	)	PUNCT
dem-1080	204	12	as	as	ADV
dem-1080	204	13	well	well	ADV
dem-1080	204	14	as	as	ADP
dem-1080	204	15	the	the	DET
dem-1080	204	16	robust	robust	ADJ
dem-1080	204	17	quasi	quasi	ADJ
dem-1080	204	18	-	-	ADJ
dem-1080	204	19	maximum	maximum	ADJ
dem-1080	204	20	likelihood	likelihood	NOUN
dem-1080	204	21	estimates	estimate	NOUN
dem-1080	204	22	(	(	PUNCT
dem-1080	204	23	qml	qml	NOUN
dem-1080	204	24	)	)	PUNCT
dem-1080	204	25	of	of	ADP
dem-1080	204	26	the	the	DET
dem-1080	204	27	parameters	parameter	NOUN
dem-1080	204	28	of	of	ADP
dem-1080	204	29	the	the	DET
dem-1080	204	30	suitable	suitable	ADJ
dem-1080	204	31	garch(p	garch(p	PROPN
dem-1080	204	32	,	,	PUNCT
dem-1080	204	33	q	q	ADJ
dem-1080	204	34	)	)	PUNCT
dem-1080	204	35	version	version	NOUN
dem-1080	204	36	of	of	ADP
dem-1080	204	37	the	the	DET
dem-1080	204	38	market	market	NOUN
dem-1080	204	39	-	-	PUNCT
dem-1080	204	40	timing	timing	NOUN
dem-1080	204	41	model	model	NOUN
dem-1080	204	42	.	.	PUNCT
dem-1080	205	1	tables	table	NOUN
dem-1080	205	2	5a–5b	5a–5b	NOUN
dem-1080	205	3	provide	provide	VERB
dem-1080	205	4	details	detail	NOUN
dem-1080	205	5	on	on	ADP
dem-1080	205	6	the	the	DET
dem-1080	205	7	robust	robust	ADJ
dem-1080	205	8	hac	hac	NOUN
dem-1080	205	9	estimates	estimate	NOUN
dem-1080	205	10	of	of	ADP
dem-1080	205	11	the	the	DET
dem-1080	205	12	t	t	PROPN
dem-1080	205	13	-	-	PUNCT
dem-1080	205	14	m	m	PROPN
dem-1080	205	15	and	and	CCONJ
dem-1080	205	16	h	h	NOUN
dem-1080	205	17	-	-	PUNCT
dem-1080	205	18	m	m	NOUN
dem-1080	205	19	market	market	NOUN
dem-1080	205	20	-	-	PUNCT
dem-1080	205	21	timing	timing	NOUN
dem-1080	205	22	models	model	NOUN
dem-1080	205	23	,	,	PUNCT
dem-1080	205	24	respectively	respectively	ADV
dem-1080	205	25	.	.	PUNCT
dem-1080	205	26	table	table	NOUN
dem-1080	205	27	5b	5b	NOUN
dem-1080	205	28	.	.	PUNCT
dem-1080	206	1	the	the	DET
dem-1080	206	2	hac	hac	PROPN
dem-1080	206	3	estimates	estimate	NOUN
dem-1080	206	4	of	of	ADP
dem-1080	206	5	the	the	DET
dem-1080	206	6	h	h	PROPN
dem-1080	206	7	-	-	PUNCT
dem-1080	206	8	m	m	NOUN
dem-1080	206	9	market	market	NOUN
dem-1080	206	10	-	-	PUNCT
dem-1080	206	11	timing	timing	NOUN
dem-1080	206	12	models	model	NOUN
dem-1080	206	13	of	of	ADP
dem-1080	206	14	polish	polish	ADJ
dem-1080	206	15	equity	equity	NOUN
dem-1080	206	16	mutual	mutual	ADJ
dem-1080	206	17	funds	fund	NOUN
dem-1080	206	18	in	in	ADP
dem-1080	206	19	the	the	DET
dem-1080	206	20	entire	entire	ADJ
dem-1080	206	21	period	period	NOUN
dem-1080	206	22	from	from	ADP
dem-1080	206	23	jan	jan	PROPN
dem-1080	206	24	2	2	NUM
dem-1080	206	25	,	,	PUNCT
dem-1080	206	26	2003	2003	NUM
dem-1080	206	27	to	to	ADP
dem-1080	206	28	june	june	PROPN
dem-1080	206	29	30	30	NUM
dem-1080	206	30	,	,	PUNCT
dem-1080	206	31	2011	2011	NUM
dem-1080	206	32	equity	equity	NOUN
dem-1080	206	33	fund	fund	NOUN
dem-1080	206	34	p̂	p̂	PROPN
dem-1080	206	35	1p̂	1p̂	PROPN
dem-1080	206	36	2p	2p	NUM
dem-1080	206	37	p̂	p̂	X
dem-1080	206	38	2r	2r	NUM
dem-1080	206	39	1	1	NUM
dem-1080	206	40	arka	arka	NOUN
dem-1080	206	41	710	710	NUM
dem-1080	206	42	-	-	SYM
dem-1080	206	43	4	4	NUM
dem-1080	206	44	*	*	PUNCT
dem-1080	206	45	*	*	PUNCT
dem-1080	206	46	*	*	PUNCT
dem-1080	206	47	(	(	PUNCT
dem-1080	206	48	210	210	NUM
dem-1080	206	49	-	-	SYM
dem-1080	206	50	4	4	NUM
dem-1080	206	51	)	)	PUNCT
dem-1080	206	52	0.65	0.65	NUM
dem-1080	206	53	*	*	PUNCT
dem-1080	206	54	*	*	PUNCT
dem-1080	206	55	*	*	PUNCT
dem-1080	206	56	(	(	PUNCT
dem-1080	206	57	0.04	0.04	NUM
dem-1080	206	58	)	)	PUNCT
dem-1080	206	59	0.14	0.14	NUM
dem-1080	206	60	*	*	PUNCT
dem-1080	206	61	*	*	PUNCT
dem-1080	206	62	*	*	PUNCT
dem-1080	206	63	(	(	PUNCT
dem-1080	206	64	0.03	0.03	NUM
dem-1080	206	65	)	)	PUNCT
dem-1080	206	66	-0.14	-0.14	NOUN
dem-1080	206	67	*	*	PUNCT
dem-1080	206	68	*	*	PUNCT
dem-1080	206	69	(	(	PUNCT
dem-1080	206	70	0.06	0.06	NUM
dem-1080	206	71	)	)	PUNCT
dem-1080	206	72	0.66	0.66	NUM
dem-1080	206	73	2	2	NUM
dem-1080	206	74	aviva	aviva	NOUN
dem-1080	206	75	610	610	NUM
dem-1080	206	76	-	-	SYM
dem-1080	206	77	4	4	NUM
dem-1080	206	78	*	*	NOUN
dem-1080	206	79	*	*	PUNCT
dem-1080	206	80	(	(	PUNCT
dem-1080	206	81	210	210	NUM
dem-1080	206	82	-	-	SYM
dem-1080	206	83	4	4	NUM
dem-1080	206	84	)	)	PUNCT
dem-1080	206	85	0.70	0.70	NUM
dem-1080	206	86	*	*	PUNCT
dem-1080	206	87	*	*	PUNCT
dem-1080	206	88	*	*	PUNCT
dem-1080	206	89	(	(	PUNCT
dem-1080	206	90	0.04	0.04	NUM
dem-1080	206	91	)	)	PUNCT
dem-1080	206	92	0.15	0.15	NUM
dem-1080	206	93	*	*	PUNCT
dem-1080	206	94	*	*	PUNCT
dem-1080	206	95	*	*	PUNCT
dem-1080	206	96	(	(	PUNCT
dem-1080	206	97	0.02	0.02	NUM
dem-1080	206	98	)	)	PUNCT
dem-1080	206	99	-0.11	-0.11	NOUN
dem-1080	206	100	*	*	PUNCT
dem-1080	206	101	*	*	PUNCT
dem-1080	206	102	(	(	PUNCT
dem-1080	206	103	0.05	0.05	NUM
dem-1080	206	104	)	)	PUNCT
dem-1080	206	105	0.73	0.73	NUM
dem-1080	206	106	3	3	NUM
dem-1080	206	107	bph	bph	NOUN
dem-1080	206	108	110	110	NUM
dem-1080	206	109	-	-	SYM
dem-1080	206	110	4	4	NUM
dem-1080	206	111	(	(	PUNCT
dem-1080	206	112	110	110	NUM
dem-1080	206	113	-	-	SYM
dem-1080	206	114	4	4	NUM
dem-1080	206	115	)	)	PUNCT
dem-1080	206	116	0.70	0.70	NUM
dem-1080	206	117	*	*	PUNCT
dem-1080	206	118	*	*	PUNCT
dem-1080	206	119	*	*	PUNCT
dem-1080	206	120	(	(	PUNCT
dem-1080	206	121	0.03	0.03	NUM
dem-1080	206	122	)	)	PUNCT
dem-1080	206	123	0.12	0.12	NUM
dem-1080	206	124	*	*	PUNCT
dem-1080	206	125	*	*	PUNCT
dem-1080	206	126	*	*	PUNCT
dem-1080	206	127	(	(	PUNCT
dem-1080	206	128	0.02	0.02	NUM
dem-1080	206	129	)	)	PUNCT
dem-1080	206	130	-0.04	-0.04	NUM
dem-1080	206	131	(	(	PUNCT
dem-1080	206	132	0.04	0.04	NUM
dem-1080	206	133	)	)	PUNCT
dem-1080	206	134	0.76	0.76	NUM
dem-1080	206	135	4	4	NUM
dem-1080	206	136	ing	e	VERB
dem-1080	206	137	110	110	NUM
dem-1080	206	138	-	-	SYM
dem-1080	206	139	4	4	NUM
dem-1080	206	140	(	(	PUNCT
dem-1080	206	141	110	110	NUM
dem-1080	206	142	-	-	SYM
dem-1080	206	143	4	4	NUM
dem-1080	206	144	)	)	PUNCT
dem-1080	206	145	0.74	0.74	NUM
dem-1080	206	146	*	*	PUNCT
dem-1080	206	147	*	*	PUNCT
dem-1080	206	148	*	*	PUNCT
dem-1080	206	149	(	(	PUNCT
dem-1080	206	150	0.03	0.03	NUM
dem-1080	206	151	)	)	PUNCT
dem-1080	206	152	0.13	0.13	NUM
dem-1080	206	153	*	*	PUNCT
dem-1080	206	154	*	*	PUNCT
dem-1080	206	155	*	*	PUNCT
dem-1080	206	156	(	(	PUNCT
dem-1080	206	157	0.02	0.02	NUM
dem-1080	206	158	)	)	PUNCT
dem-1080	206	159	-0.04	-0.04	NUM
dem-1080	206	160	(	(	PUNCT
dem-1080	206	161	0.04	0.04	NUM
dem-1080	206	162	)	)	PUNCT
dem-1080	206	163	0.74	0.74	NUM
dem-1080	206	164	5	5	NUM
dem-1080	206	165	investor	investor	NOUN
dem-1080	206	166	25	25	NUM
dem-1080	206	167	410	410	NUM
dem-1080	206	168	-	-	SYM
dem-1080	206	169	4	4	NUM
dem-1080	206	170	(	(	PUNCT
dem-1080	206	171	310	310	NUM
dem-1080	206	172	-	-	SYM
dem-1080	206	173	4	4	NUM
dem-1080	206	174	)	)	PUNCT
dem-1080	206	175	0.33	0.33	NUM
dem-1080	206	176	*	*	PUNCT
dem-1080	206	177	*	*	PUNCT
dem-1080	206	178	*	*	PUNCT
dem-1080	206	179	(	(	PUNCT
dem-1080	206	180	0.03	0.03	NUM
dem-1080	206	181	)	)	PUNCT
dem-1080	206	182	0.31	0.31	NUM
dem-1080	206	183	*	*	PUNCT
dem-1080	206	184	*	*	PUNCT
dem-1080	206	185	*	*	PUNCT
dem-1080	206	186	(	(	PUNCT
dem-1080	206	187	0.03	0.03	NUM
dem-1080	206	188	)	)	PUNCT
dem-1080	206	189	-0.13	-0.13	NOUN
dem-1080	206	190	*	*	PUNCT
dem-1080	206	191	(	(	PUNCT
dem-1080	206	192	0.06	0.06	NUM
dem-1080	206	193	)	)	PUNCT
dem-1080	206	194	0.39	0.39	NUM
dem-1080	206	195	6	6	NUM
dem-1080	206	196	investor	investor	NOUN
dem-1080	206	197	ads	ad	NOUN
dem-1080	206	198	-210	-210	NUM
dem-1080	206	199	-	-	SYM
dem-1080	206	200	4	4	NUM
dem-1080	206	201	(	(	PUNCT
dem-1080	206	202	310	310	NUM
dem-1080	206	203	-	-	SYM
dem-1080	206	204	4	4	NUM
dem-1080	206	205	)	)	PUNCT
dem-1080	206	206	0.63	0.63	NUM
dem-1080	206	207	*	*	PUNCT
dem-1080	206	208	*	*	PUNCT
dem-1080	206	209	*	*	PUNCT
dem-1080	206	210	(	(	PUNCT
dem-1080	206	211	0.04	0.04	NUM
dem-1080	206	212	)	)	PUNCT
dem-1080	206	213	0.38	0.38	NUM
dem-1080	206	214	*	*	PUNCT
dem-1080	206	215	*	*	PUNCT
dem-1080	206	216	*	*	PUNCT
dem-1080	206	217	(	(	PUNCT
dem-1080	206	218	0.03	0.03	NUM
dem-1080	206	219	)	)	PUNCT
dem-1080	206	220	-0.01	-0.01	NUM
dem-1080	206	221	(	(	PUNCT
dem-1080	206	222	0.08	0.08	NUM
dem-1080	206	223	)	)	PUNCT
dem-1080	206	224	0.55	0.55	NUM
dem-1080	206	225	7	7	NUM
dem-1080	206	226	investor	investor	NOUN
dem-1080	206	227	210	210	NUM
dem-1080	206	228	-	-	SYM
dem-1080	206	229	5	5	NUM
dem-1080	206	230	(	(	PUNCT
dem-1080	206	231	310	310	NUM
dem-1080	206	232	-	-	SYM
dem-1080	206	233	4	4	NUM
dem-1080	206	234	)	)	PUNCT
dem-1080	206	235	0.52***(0.03	0.52***(0.03	NUM
dem-1080	206	236	)	)	PUNCT
dem-1080	206	237	0.37	0.37	NUM
dem-1080	206	238	*	*	PUNCT
dem-1080	206	239	*	*	PUNCT
dem-1080	206	240	*	*	PUNCT
dem-1080	206	241	(	(	PUNCT
dem-1080	206	242	0.03	0.03	NUM
dem-1080	206	243	)	)	PUNCT
dem-1080	206	244	-0.04	-0.04	NUM
dem-1080	206	245	(	(	PUNCT
dem-1080	206	246	0.06	0.06	NUM
dem-1080	206	247	)	)	PUNCT
dem-1080	206	248	0.55	0.55	NUM
dem-1080	206	249	8	8	NUM
dem-1080	206	250	legg	legg	NOUN
dem-1080	206	251	mason	mason	PROPN
dem-1080	206	252	310	310	PROPN
dem-1080	206	253	-	-	PROPN
dem-1080	206	254	4	4	NUM
dem-1080	206	255	*	*	PUNCT
dem-1080	206	256	(	(	PUNCT
dem-1080	206	257	110	110	NUM
dem-1080	206	258	-	-	SYM
dem-1080	206	259	4	4	NUM
dem-1080	206	260	)	)	PUNCT
dem-1080	206	261	0.67***(0.03	0.67***(0.03	NUM
dem-1080	206	262	)	)	PUNCT
dem-1080	206	263	0.12	0.12	NUM
dem-1080	206	264	*	*	PUNCT
dem-1080	206	265	*	*	PUNCT
dem-1080	206	266	*	*	PUNCT
dem-1080	206	267	(	(	PUNCT
dem-1080	206	268	0.02	0.02	NUM
dem-1080	206	269	)	)	PUNCT
dem-1080	206	270	-0.05	-0.05	NOUN
dem-1080	206	271	(	(	PUNCT
dem-1080	206	272	0.04	0.04	NUM
dem-1080	206	273	)	)	PUNCT
dem-1080	206	274	0.74	0.74	NUM
dem-1080	206	275	9	9	NUM
dem-1080	206	276	millennium	millennium	NOUN
dem-1080	206	277	210	210	NUM
dem-1080	206	278	-	-	SYM
dem-1080	206	279	4	4	NUM
dem-1080	206	280	(	(	PUNCT
dem-1080	206	281	210	210	NUM
dem-1080	206	282	-	-	SYM
dem-1080	206	283	4	4	NUM
dem-1080	206	284	)	)	PUNCT
dem-1080	206	285	0.65	0.65	NUM
dem-1080	206	286	*	*	PUNCT
dem-1080	206	287	*	*	PUNCT
dem-1080	206	288	*	*	PUNCT
dem-1080	206	289	(	(	PUNCT
dem-1080	206	290	0.03	0.03	NUM
dem-1080	206	291	)	)	PUNCT
dem-1080	206	292	0.13	0.13	NUM
dem-1080	206	293	*	*	PUNCT
dem-1080	206	294	*	*	PUNCT
dem-1080	206	295	*	*	PUNCT
dem-1080	206	296	(	(	PUNCT
dem-1080	206	297	0.02	0.02	NUM
dem-1080	206	298	)	)	PUNCT
dem-1080	206	299	-0.07	-0.07	X
dem-1080	206	300	(	(	PUNCT
dem-1080	206	301	0.04	0.04	NUM
dem-1080	206	302	)	)	PUNCT
dem-1080	206	303	0.72	0.72	NUM
dem-1080	206	304	10	10	NUM
dem-1080	206	305	novo	novo	NOUN
dem-1080	206	306	110	110	NUM
dem-1080	206	307	-	-	SYM
dem-1080	206	308	4	4	NUM
dem-1080	206	309	(	(	PUNCT
dem-1080	206	310	310	310	NUM
dem-1080	206	311	-	-	SYM
dem-1080	206	312	4	4	NUM
dem-1080	206	313	)	)	PUNCT
dem-1080	206	314	0.45	0.45	NUM
dem-1080	206	315	*	*	PUNCT
dem-1080	206	316	*	*	PUNCT
dem-1080	206	317	*	*	PUNCT
dem-1080	206	318	(	(	PUNCT
dem-1080	206	319	0.03	0.03	NUM
dem-1080	206	320	)	)	PUNCT
dem-1080	206	321	0.45	0.45	NUM
dem-1080	206	322	*	*	PUNCT
dem-1080	206	323	*	*	PUNCT
dem-1080	206	324	*	*	PUNCT
dem-1080	206	325	(	(	PUNCT
dem-1080	206	326	0.03	0.03	NUM
dem-1080	206	327	)	)	PUNCT
dem-1080	206	328	-0.06	-0.06	NUM
dem-1080	206	329	(	(	PUNCT
dem-1080	206	330	0.07	0.07	NUM
dem-1080	206	331	)	)	PUNCT
dem-1080	206	332	0.55	0.55	NUM
dem-1080	206	333	11	11	NUM
dem-1080	206	334	pioneer	pioneer	NOUN
dem-1080	206	335	910	910	PROPN
dem-1080	206	336	-	-	SYM
dem-1080	206	337	5	5	NUM
dem-1080	206	338	(	(	PUNCT
dem-1080	206	339	210	210	NUM
dem-1080	206	340	-	-	SYM
dem-1080	206	341	4	4	NUM
dem-1080	206	342	)	)	PUNCT
dem-1080	206	343	0.76	0.76	NUM
dem-1080	206	344	*	*	PUNCT
dem-1080	206	345	*	*	PUNCT
dem-1080	206	346	*	*	PUNCT
dem-1080	206	347	(	(	PUNCT
dem-1080	206	348	0.04	0.04	NUM
dem-1080	206	349	)	)	PUNCT
dem-1080	206	350	0.16	0.16	NUM
dem-1080	206	351	*	*	PUNCT
dem-1080	206	352	*	*	PUNCT
dem-1080	206	353	*	*	PUNCT
dem-1080	206	354	(	(	PUNCT
dem-1080	206	355	0.02	0.02	NUM
dem-1080	206	356	)	)	PUNCT
dem-1080	206	357	-0.08	-0.08	NUM
dem-1080	206	358	(	(	PUNCT
dem-1080	206	359	0.06	0.06	NUM
dem-1080	206	360	)	)	PUNCT
dem-1080	206	361	0.74	0.74	NUM
dem-1080	206	362	12	12	NUM
dem-1080	206	363	pko	pko	PROPN
dem-1080	206	364	310	310	PROPN
dem-1080	206	365	-	-	NUM
dem-1080	206	366	4	4	NUM
dem-1080	206	367	(	(	PUNCT
dem-1080	206	368	310	310	NUM
dem-1080	206	369	-	-	SYM
dem-1080	206	370	4	4	NUM
dem-1080	206	371	)	)	PUNCT
dem-1080	206	372	0.50	0.50	NUM
dem-1080	206	373	*	*	PUNCT
dem-1080	206	374	*	*	PUNCT
dem-1080	206	375	*	*	PUNCT
dem-1080	206	376	(	(	PUNCT
dem-1080	206	377	0.04	0.04	NUM
dem-1080	206	378	)	)	PUNCT
dem-1080	206	379	0.28	0.28	NUM
dem-1080	206	380	*	*	PUNCT
dem-1080	206	381	*	*	PUNCT
dem-1080	206	382	*	*	PUNCT
dem-1080	206	383	(	(	PUNCT
dem-1080	206	384	0.03	0.03	NUM
dem-1080	206	385	)	)	PUNCT
dem-1080	206	386	-0.12	-0.12	NUM
dem-1080	206	387	(	(	PUNCT
dem-1080	206	388	0.07	0.07	NUM
dem-1080	206	389	)	)	PUNCT
dem-1080	206	390	0.56	0.56	NUM
dem-1080	206	391	13	13	NUM
dem-1080	206	392	pzu	pzu	NOUN
dem-1080	206	393	210	210	NUM
dem-1080	206	394	-	-	SYM
dem-1080	206	395	4	4	NUM
dem-1080	206	396	(	(	PUNCT
dem-1080	206	397	210	210	NUM
dem-1080	206	398	-	-	SYM
dem-1080	206	399	4	4	NUM
dem-1080	206	400	)	)	PUNCT
dem-1080	206	401	0.67	0.67	NUM
dem-1080	206	402	*	*	PUNCT
dem-1080	206	403	*	*	PUNCT
dem-1080	206	404	*	*	PUNCT
dem-1080	206	405	(	(	PUNCT
dem-1080	206	406	0.03	0.03	NUM
dem-1080	206	407	)	)	PUNCT
dem-1080	206	408	0.12	0.12	NUM
dem-1080	206	409	*	*	PUNCT
dem-1080	206	410	*	*	PUNCT
dem-1080	206	411	*	*	PUNCT
dem-1080	206	412	(	(	PUNCT
dem-1080	206	413	0.02	0.02	NUM
dem-1080	206	414	)	)	PUNCT
dem-1080	206	415	-0.08	-0.08	NOUN
dem-1080	206	416	*	*	PUNCT
dem-1080	206	417	(	(	PUNCT
dem-1080	206	418	0.04	0.04	NUM
dem-1080	206	419	)	)	PUNCT
dem-1080	206	420	0.73	0.73	NUM
dem-1080	206	421	14	14	NUM
dem-1080	206	422	skarbiec	skarbiec	NOUN
dem-1080	206	423	-810	-810	NUM
dem-1080	206	424	-	-	SYM
dem-1080	206	425	5	5	NUM
dem-1080	206	426	(	(	PUNCT
dem-1080	206	427	310	310	NUM
dem-1080	206	428	-	-	SYM
dem-1080	206	429	4	4	NUM
dem-1080	206	430	)	)	PUNCT
dem-1080	206	431	0.47	0.47	NUM
dem-1080	206	432	*	*	PUNCT
dem-1080	206	433	*	*	PUNCT
dem-1080	206	434	*	*	PUNCT
dem-1080	206	435	(	(	PUNCT
dem-1080	206	436	0.03	0.03	NUM
dem-1080	206	437	)	)	PUNCT
dem-1080	206	438	0.38	0.38	NUM
dem-1080	206	439	*	*	PUNCT
dem-1080	206	440	*	*	PUNCT
dem-1080	206	441	*	*	PUNCT
dem-1080	206	442	(	(	PUNCT
dem-1080	206	443	0.03	0.03	NUM
dem-1080	206	444	)	)	PUNCT
dem-1080	206	445	0.02	0.02	NUM
dem-1080	206	446	(	(	PUNCT
dem-1080	206	447	0.06	0.06	NUM
dem-1080	206	448	)	)	PUNCT
dem-1080	206	449	0.51	0.51	NUM
dem-1080	206	450	15	15	NUM
dem-1080	206	451	unikorona	unikorona	NOUN
dem-1080	206	452	110	110	NUM
dem-1080	206	453	-	-	SYM
dem-1080	206	454	4	4	NUM
dem-1080	206	455	(	(	PUNCT
dem-1080	206	456	310	310	NUM
dem-1080	206	457	-	-	SYM
dem-1080	206	458	4	4	NUM
dem-1080	206	459	)	)	PUNCT
dem-1080	206	460	0.47	0.47	NUM
dem-1080	206	461	*	*	PUNCT
dem-1080	206	462	*	*	PUNCT
dem-1080	206	463	*	*	PUNCT
dem-1080	206	464	(	(	PUNCT
dem-1080	206	465	0.03	0.03	NUM
dem-1080	206	466	)	)	PUNCT
dem-1080	206	467	0.45	0.45	NUM
dem-1080	206	468	*	*	PUNCT
dem-1080	206	469	*	*	PUNCT
dem-1080	206	470	*	*	PUNCT
dem-1080	206	471	(	(	PUNCT
dem-1080	206	472	0.03	0.03	NUM
dem-1080	206	473	)	)	PUNCT
dem-1080	206	474	-0.02	-0.02	NUM
dem-1080	206	475	(	(	PUNCT
dem-1080	206	476	0.06	0.06	NUM
dem-1080	206	477	)	)	PUNCT
dem-1080	206	478	0.55	0.55	NUM
dem-1080	206	479	note	note	NOUN
dem-1080	206	480	:	:	PUNCT
dem-1080	206	481	the	the	DET
dem-1080	206	482	table	table	NOUN
dem-1080	206	483	is	be	AUX
dem-1080	206	484	based	base	VERB
dem-1080	206	485	on	on	ADP
dem-1080	206	486	the	the	DET
dem-1080	206	487	entire	entire	ADJ
dem-1080	206	488	sample	sample	NOUN
dem-1080	206	489	p1	p1	NOUN
dem-1080	206	490	;	;	PUNCT
dem-1080	206	491	h	h	NOUN
dem-1080	206	492	-	-	PUNCT
dem-1080	206	493	m	m	PROPN
dem-1080	206	494	(	(	PUNCT
dem-1080	206	495	3	3	NUM
dem-1080	206	496	)	)	PUNCT
dem-1080	206	497	is	be	AUX
dem-1080	206	498	the	the	DET
dem-1080	206	499	classical	classical	ADJ
dem-1080	206	500	henriksson	henriksson	ADJ
dem-1080	206	501	-	-	PUNCT
dem-1080	206	502	merton	merton	NOUN
dem-1080	206	503	model	model	NOUN
dem-1080	206	504	with	with	ADP
dem-1080	206	505	the	the	DET
dem-1080	206	506	lagged	lag	VERB
dem-1080	206	507	excess	excess	ADJ
dem-1080	206	508	return	return	NOUN
dem-1080	206	509	on	on	ADP
dem-1080	206	510	market	market	NOUN
dem-1080	206	511	portfolio	portfolio	NOUN
dem-1080	206	512	m	m	VERB
dem-1080	206	513	as	as	ADP
dem-1080	206	514	additional	additional	ADJ
dem-1080	206	515	factor	factor	NOUN
dem-1080	206	516	;	;	PUNCT
dem-1080	206	517	the	the	DET
dem-1080	206	518	heteroskedastic	heteroskedastic	ADJ
dem-1080	206	519	consistent	consistent	ADJ
dem-1080	206	520	standard	standard	ADJ
dem-1080	206	521	errors	error	NOUN
dem-1080	206	522	are	be	AUX
dem-1080	206	523	in	in	ADP
dem-1080	206	524	parentheses	parenthesis	NOUN
dem-1080	206	525	next	next	ADV
dem-1080	206	526	to	to	ADP
dem-1080	206	527	the	the	DET
dem-1080	206	528	coefficient	coefficient	NOUN
dem-1080	206	529	estimates	estimate	NOUN
dem-1080	206	530	;	;	PUNCT
dem-1080	206	531	the	the	DET
dem-1080	206	532	values	value	NOUN
dem-1080	206	533	of	of	ADP
dem-1080	206	534	the	the	DET
dem-1080	206	535	adjusted	adjust	VERB
dem-1080	206	536	determination	determination	NOUN
dem-1080	206	537	coefficient	coefficient	NOUN
dem-1080	206	538	are	be	AUX
dem-1080	206	539	in	in	ADP
dem-1080	206	540	the	the	DET
dem-1080	206	541	last	last	ADJ
dem-1080	206	542	column	column	NOUN
dem-1080	206	543	;	;	PUNCT
dem-1080	206	544	*	*	PUNCT
dem-1080	206	545	significant	significant	ADJ
dem-1080	206	546	at	at	ADP
dem-1080	206	547	the	the	DET
dem-1080	206	548	10	10	NUM
dem-1080	206	549	per	per	NOUN
dem-1080	206	550	cent	cent	NOUN
dem-1080	206	551	level	level	NOUN
dem-1080	206	552	;	;	PUNCT
dem-1080	207	1	*	*	PUNCT
dem-1080	207	2	*	*	PUNCT
dem-1080	207	3	significant	significant	ADJ
dem-1080	207	4	at	at	ADP
dem-1080	207	5	the	the	DET
dem-1080	207	6	5	5	NUM
dem-1080	207	7	per	per	NOUN
dem-1080	207	8	cent	cent	NOUN
dem-1080	207	9	level	level	NOUN
dem-1080	207	10	;	;	PUNCT
dem-1080	207	11	*	*	PUNCT
dem-1080	207	12	*	*	PUNCT
dem-1080	207	13	*	*	PUNCT
dem-1080	207	14	significant	significant	ADJ
dem-1080	207	15	at	at	ADP
dem-1080	207	16	the	the	DET
dem-1080	207	17	1	1	NUM
dem-1080	207	18	per	per	NOUN
dem-1080	207	19	cent	cent	NOUN
dem-1080	207	20	level	level	NOUN
dem-1080	207	21	.	.	PUNCT
dem-1080	208	1	the	the	DET
dem-1080	208	2	robust	robust	ADJ
dem-1080	208	3	qml	qml	NOUN
dem-1080	208	4	estimates	estimate	NOUN
dem-1080	208	5	of	of	ADP
dem-1080	208	6	the	the	DET
dem-1080	208	7	parameters	parameter	NOUN
dem-1080	208	8	of	of	ADP
dem-1080	208	9	the	the	DET
dem-1080	208	10	suitable	suitable	ADJ
dem-1080	208	11	garch(p	garch(p	PROPN
dem-1080	208	12	,	,	PUNCT
dem-1080	208	13	q	q	ADJ
dem-1080	208	14	)	)	PUNCT
dem-1080	208	15	version	version	NOUN
dem-1080	208	16	of	of	ADP
dem-1080	208	17	market	market	NOUN
dem-1080	208	18	-	-	PUNCT
dem-1080	208	19	timing	timing	NOUN
dem-1080	208	20	models	model	NOUN
dem-1080	208	21	are	be	AUX
dem-1080	208	22	presented	present	VERB
dem-1080	208	23	in	in	ADP
dem-1080	208	24	tables	table	NOUN
dem-1080	208	25	6a–6b	6a–6b	NOUN
dem-1080	208	26	,	,	PUNCT
dem-1080	208	27	respectively	respectively	ADV
dem-1080	208	28	.	.	PUNCT
dem-1080	209	1	it	it	PRON
dem-1080	209	2	is	be	AUX
dem-1080	209	3	worth	worth	ADJ
dem-1080	209	4	stressing	stress	VERB
dem-1080	209	5	that	that	SCONJ
dem-1080	209	6	some	some	DET
dem-1080	209	7	restrictions	restriction	NOUN
dem-1080	209	8	for	for	ADP
dem-1080	209	9	the	the	DET
dem-1080	209	10	parameters	parameter	NOUN
dem-1080	209	11	in	in	ADP
dem-1080	209	12	the	the	DET
dem-1080	209	13	garch(p	garch(p	PROPN
dem-1080	209	14	,	,	PUNCT
dem-1080	209	15	q	q	NOUN
dem-1080	209	16	)	)	PUNCT
dem-1080	209	17	models	model	NOUN
dem-1080	209	18	(	(	PUNCT
dem-1080	209	19	8)	8)	NUM
dem-1080	209	20	can	can	AUX
dem-1080	209	21	be	be	AUX
dem-1080	209	22	relaxed	relax	VERB
dem-1080	209	23	.	.	PUNCT
dem-1080	210	1	for	for	ADP
dem-1080	210	2	example	example	NOUN
dem-1080	210	3	,	,	PUNCT
dem-1080	210	4	it	it	PRON
dem-1080	210	5	is	be	AUX
dem-1080	210	6	not	not	PART
dem-1080	210	7	necessary	necessary	ADJ
dem-1080	210	8	for	for	SCONJ
dem-1080	210	9	the	the	DET
dem-1080	210	10	2	2	ADJ
dem-1080	210	11	parameter	parameter	NOUN
dem-1080	210	12	in	in	ADP
dem-1080	210	13	the	the	DET
dem-1080	210	14	conditional	conditional	ADJ
dem-1080	210	15	variance	variance	NOUN
dem-1080	210	16	equation	equation	NOUN
dem-1080	210	17	in	in	ADP
dem-1080	210	18	the	the	DET
dem-1080	210	19	garch(1,2	garch(1,2	ADJ
dem-1080	210	20	)	)	PUNCT
dem-1080	210	21	model	model	NOUN
dem-1080	210	22	to	to	PART
dem-1080	210	23	be	be	AUX
dem-1080	210	24	nonnegative	nonnegative	ADJ
dem-1080	210	25	(	(	PUNCT
dem-1080	210	26	fiszeder	fiszeder	NOUN
dem-1080	210	27	,	,	PUNCT
dem-1080	210	28	2009	2009	NUM
dem-1080	210	29	)	)	PUNCT
dem-1080	210	30	.	.	PUNCT
dem-1080	211	1	note	note	VERB
dem-1080	211	2	that	that	SCONJ
dem-1080	211	3	in	in	ADP
dem-1080	211	4	the	the	DET
dem-1080	211	5	case	case	NOUN
dem-1080	211	6	of	of	ADP
dem-1080	211	7	all	all	DET
dem-1080	211	8	funds	fund	NOUN
dem-1080	211	9	,	,	PUNCT
dem-1080	211	10	both	both	PRON
dem-1080	211	11	for	for	ADP
dem-1080	211	12	the	the	DET
dem-1080	211	13	t	t	PROPN
dem-1080	211	14	-	-	PUNCT
dem-1080	211	15	m	m	NOUN
dem-1080	211	16	model	model	NOUN
dem-1080	211	17	and	and	CCONJ
dem-1080	211	18	for	for	ADP
dem-1080	211	19	the	the	DET
dem-1080	211	20	h	h	PROPN
dem-1080	211	21	-	-	PUNCT
dem-1080	211	22	m	m	PROPN
dem-1080	211	23	model	model	NOUN
dem-1080	211	24	the	the	DET
dem-1080	211	25	same	same	ADJ
dem-1080	211	26	variant	variant	NOUN
dem-1080	211	27	of	of	ADP
dem-1080	211	28	the	the	DET
dem-1080	211	29	garch(p	garch(p	PROPN
dem-1080	211	30	,	,	PUNCT
dem-1080	211	31	q	q	NOUN
dem-1080	211	32	)	)	PUNCT
dem-1080	211	33	model	model	NOUN
dem-1080	211	34	has	have	AUX
dem-1080	211	35	been	be	AUX
dem-1080	211	36	chosen	choose	VERB
dem-1080	211	37	(	(	PUNCT
dem-1080	211	38	tables	table	NOUN
dem-1080	211	39	6a–6b	6a–6b	NOUN
dem-1080	211	40	)	)	PUNCT
dem-1080	211	41	.	.	PUNCT
dem-1080	212	1	2	2	NUM
dem-1080	212	2	when	when	SCONJ
dem-1080	212	3	the	the	DET
dem-1080	212	4	values	value	NOUN
dem-1080	212	5	of	of	ADP
dem-1080	212	6	the	the	DET
dem-1080	212	7	information	information	NOUN
dem-1080	212	8	criterions	criterion	VERB
dem-1080	212	9	aic	aic	PROPN
dem-1080	212	10	or	or	CCONJ
dem-1080	212	11	sc	sc	PROPN
dem-1080	212	12	for	for	ADP
dem-1080	212	13	different	different	ADJ
dem-1080	212	14	variants	variant	NOUN
dem-1080	212	15	of	of	ADP
dem-1080	212	16	the	the	DET
dem-1080	212	17	garch(p	garch(p	PROPN
dem-1080	212	18	,	,	PUNCT
dem-1080	212	19	q	q	NOUN
dem-1080	212	20	)	)	PUNCT
dem-1080	212	21	models	model	NOUN
dem-1080	212	22	are	be	AUX
dem-1080	212	23	almost	almost	ADV
dem-1080	212	24	equal	equal	ADJ
dem-1080	212	25	,	,	PUNCT
dem-1080	212	26	the	the	DET
dem-1080	212	27	statistical	statistical	ADJ
dem-1080	212	28	significance	significance	NOUN
dem-1080	212	29	of	of	ADP
dem-1080	212	30	the	the	DET
dem-1080	212	31	parameters	parameter	NOUN
dem-1080	212	32	in	in	ADP
dem-1080	212	33	the	the	DET
dem-1080	212	34	conditional	conditional	ADJ
dem-1080	212	35	mean	mean	NOUN
dem-1080	212	36	and	and	CCONJ
dem-1080	212	37	conditional	conditional	ADJ
dem-1080	212	38	variance	variance	NOUN
dem-1080	212	39	equations	equation	NOUN
dem-1080	212	40	of	of	ADP
dem-1080	212	41	the	the	DET
dem-1080	212	42	garch(p	garch(p	PROPN
dem-1080	212	43	,	,	PUNCT
dem-1080	212	44	q	q	NOUN
dem-1080	212	45	)	)	PUNCT
dem-1080	212	46	model	model	NOUN
dem-1080	212	47	has	have	AUX
dem-1080	212	48	been	be	AUX
dem-1080	212	49	analyzed	analyze	VERB
dem-1080	212	50	to	to	PART
dem-1080	212	51	choose	choose	VERB
dem-1080	212	52	the	the	DET
dem-1080	212	53	appropriate	appropriate	ADJ
dem-1080	212	54	model	model	NOUN
dem-1080	212	55	.	.	PUNCT
dem-1080	213	1	arch	arch	ADJ
dem-1080	213	2	effect	effect	NOUN
dem-1080	213	3	in	in	ADP
dem-1080	213	4	classical	classical	ADJ
dem-1080	213	5	market	market	NOUN
dem-1080	213	6	-	-	PUNCT
dem-1080	213	7	timing	timing	NOUN
dem-1080	213	8	models	model	NOUN
dem-1080	213	9	with	with	ADP
dem-1080	213	10	lagged	lag	VERB
dem-1080	213	11	market	market	NOUN
dem-1080	213	12	variable	variable	NOUN
dem-1080	213	13	…	…	PUNCT
dem-1080	213	14	197	197	NUM
dem-1080	213	15	in	in	ADP
dem-1080	213	16	summary	summary	NOUN
dem-1080	214	1	,	,	PUNCT
dem-1080	214	2	the	the	DET
dem-1080	214	3	results	result	NOUN
dem-1080	214	4	in	in	ADP
dem-1080	214	5	tables	table	NOUN
dem-1080	214	6	5a–5b	5a–5b	NOUN
dem-1080	214	7	and	and	CCONJ
dem-1080	214	8	6a–6b	6a–6b	NOUN
dem-1080	214	9	clearly	clearly	ADV
dem-1080	214	10	show	show	VERB
dem-1080	214	11	that	that	SCONJ
dem-1080	214	12	despite	despite	SCONJ
dem-1080	214	13	the	the	DET
dem-1080	214	14	strong	strong	ADJ
dem-1080	214	15	arch	arch	ADJ
dem-1080	214	16	effect	effect	NOUN
dem-1080	214	17	in	in	ADP
dem-1080	214	18	all	all	DET
dem-1080	214	19	models	model	NOUN
dem-1080	214	20	built	build	VERB
dem-1080	214	21	based	base	VERB
dem-1080	214	22	on	on	ADP
dem-1080	214	23	the	the	DET
dem-1080	214	24	sample	sample	NOUN
dem-1080	214	25	p1	p1	NOUN
dem-1080	214	26	,	,	PUNCT
dem-1080	214	27	the	the	DET
dem-1080	214	28	simpler	simple	ADJ
dem-1080	214	29	robust	robust	ADJ
dem-1080	214	30	hac	hac	NOUN
dem-1080	214	31	method	method	NOUN
dem-1080	214	32	is	be	AUX
dem-1080	214	33	quite	quite	ADV
dem-1080	214	34	sufficient	sufficient	ADJ
dem-1080	214	35	.	.	PUNCT
dem-1080	215	1	therefore	therefore	ADV
dem-1080	215	2	,	,	PUNCT
dem-1080	215	3	in	in	ADP
dem-1080	215	4	our	our	PRON
dem-1080	215	5	opinion	opinion	NOUN
dem-1080	215	6	,	,	PUNCT
dem-1080	215	7	the	the	DET
dem-1080	215	8	garch(p	garch(p	PROPN
dem-1080	215	9	,	,	PUNCT
dem-1080	215	10	q	q	NOUN
dem-1080	215	11	)	)	PUNCT
dem-1080	215	12	model	model	NOUN
dem-1080	215	13	is	be	AUX
dem-1080	215	14	suitable	suitable	ADJ
dem-1080	215	15	but	but	CCONJ
dem-1080	215	16	not	not	PART
dem-1080	215	17	necessary	necessary	ADJ
dem-1080	215	18	for	for	ADP
dem-1080	215	19	such	such	ADJ
dem-1080	215	20	applications	application	NOUN
dem-1080	215	21	.	.	PUNCT
dem-1080	216	1	table	table	NOUN
dem-1080	216	2	6a	6a	NOUN
dem-1080	216	3	.	.	PUNCT
dem-1080	217	1	the	the	DET
dem-1080	217	2	garch(p	garch(p	PROPN
dem-1080	217	3	,	,	PUNCT
dem-1080	217	4	q	q	ADJ
dem-1080	217	5	)	)	PUNCT
dem-1080	217	6	versions	version	NOUN
dem-1080	217	7	of	of	ADP
dem-1080	217	8	the	the	DET
dem-1080	217	9	t	t	PROPN
dem-1080	217	10	-	-	PUNCT
dem-1080	217	11	m	m	NOUN
dem-1080	217	12	market	market	NOUN
dem-1080	217	13	-	-	PUNCT
dem-1080	217	14	timing	timing	NOUN
dem-1080	217	15	models	model	NOUN
dem-1080	217	16	of	of	ADP
dem-1080	217	17	polish	polish	ADJ
dem-1080	217	18	equity	equity	NOUN
dem-1080	217	19	mutual	mutual	ADJ
dem-1080	217	20	funds	fund	NOUN
dem-1080	217	21	in	in	ADP
dem-1080	217	22	the	the	DET
dem-1080	217	23	entire	entire	ADJ
dem-1080	217	24	period	period	NOUN
dem-1080	217	25	from	from	ADP
dem-1080	217	26	jan	jan	PROPN
dem-1080	217	27	2	2	NUM
dem-1080	217	28	,	,	PUNCT
dem-1080	217	29	2003	2003	NUM
dem-1080	217	30	to	to	ADP
dem-1080	217	31	june	june	PROPN
dem-1080	217	32	30	30	NUM
dem-1080	217	33	,	,	PUNCT
dem-1080	217	34	2011	2011	NUM
dem-1080	217	35	fu	fu	NOUN
dem-1080	217	36	nd	nd	INTJ
dem-1080	217	37	.	.	PUNCT
dem-1080	218	1	n	n	CCONJ
dem-1080	218	2	o.	o.	PROPN
dem-1080	218	3	t	t	PROPN
dem-1080	218	4	-	-	PUNCT
dem-1080	218	5	m	m	PROPN
dem-1080	218	6	model	model	NOUN
dem-1080	218	7	–	–	PUNCT
dem-1080	219	1	conditional	conditional	ADJ
dem-1080	219	2	mean	mean	NOUN
dem-1080	219	3	equation	equation	NOUN
dem-1080	219	4	(	(	PUNCT
dem-1080	219	5	p	p	X
dem-1080	219	6	,	,	PUNCT
dem-1080	219	7	q	q	ADJ
dem-1080	219	8	)	)	PUNCT
dem-1080	219	9	conditional	conditional	ADJ
dem-1080	219	10	variance	variance	NOUN
dem-1080	219	11	equation	equation	NOUN
dem-1080	219	12	p̂	p̂	NOUN
dem-1080	219	13	1p̂	1p̂	PROPN
dem-1080	219	14	2p	2p	NUM
dem-1080	219	15	p̂	p̂	PUNCT
dem-1080	219	16	0̂	0̂	NUM
dem-1080	219	17	1	1	NOUN
dem-1080	219	18	2̂	2̂	NUM
dem-1080	219	19	1̂	1̂	PROPN
dem-1080	219	20	2̂	2̂	NUM
dem-1080	219	21	1	1	NUM
dem-1080	219	22	310	310	NUM
dem-1080	219	23	-	-	NUM
dem-1080	219	24	4	4	NUM
dem-1080	219	25	(	(	PUNCT
dem-1080	219	26	110	110	NUM
dem-1080	219	27	-	-	SYM
dem-1080	219	28	4	4	NUM
dem-1080	219	29	)	)	PUNCT
dem-1080	219	30	0.80	0.80	NUM
dem-1080	219	31	(	(	PUNCT
dem-1080	219	32	0.01	0.01	NUM
dem-1080	219	33	)	)	PUNCT
dem-1080	219	34	0.04	0.04	NUM
dem-1080	219	35	(	(	PUNCT
dem-1080	219	36	0.01	0.01	NUM
dem-1080	219	37	)	)	PUNCT
dem-1080	219	38	-1.60	-1.60	NOUN
dem-1080	219	39	(	(	PUNCT
dem-1080	219	40	0.52	0.52	NUM
dem-1080	219	41	)	)	PUNCT
dem-1080	219	42	(	(	PUNCT
dem-1080	219	43	1,1	1,1	NUM
dem-1080	219	44	)	)	PUNCT
dem-1080	219	45	210	210	NUM
dem-1080	219	46	-	-	SYM
dem-1080	219	47	7	7	NUM
dem-1080	219	48	(	(	PUNCT
dem-1080	219	49	110	110	NUM
dem-1080	219	50	-	-	SYM
dem-1080	219	51	7	7	NUM
dem-1080	219	52	)	)	PUNCT
dem-1080	219	53	0.09	0.09	NUM
dem-1080	219	54	(	(	PUNCT
dem-1080	219	55	0.02	0.02	NUM
dem-1080	219	56	)	)	PUNCT
dem-1080	219	57	0.90	0.90	NUM
dem-1080	219	58	(	(	PUNCT
dem-1080	219	59	0.02	0.02	NUM
dem-1080	219	60	)	)	PUNCT
dem-1080	219	61	2	2	NUM
dem-1080	219	62	310	310	NUM
dem-1080	219	63	-	-	SYM
dem-1080	219	64	4	4	NUM
dem-1080	219	65	(	(	PUNCT
dem-1080	219	66	710	710	NUM
dem-1080	219	67	-	-	SYM
dem-1080	219	68	5	5	NUM
dem-1080	219	69	)	)	PUNCT
dem-1080	219	70	0.86	0.86	NUM
dem-1080	219	71	(	(	PUNCT
dem-1080	219	72	0.01	0.01	NUM
dem-1080	219	73	)	)	PUNCT
dem-1080	219	74	0.01	0.01	NUM
dem-1080	219	75	(	(	PUNCT
dem-1080	219	76	0.005	0.005	NUM
dem-1080	219	77	)	)	PUNCT
dem-1080	219	78	-1.95	-1.95	NOUN
dem-1080	219	79	(	(	PUNCT
dem-1080	219	80	0.33	0.33	NUM
dem-1080	219	81	)	)	PUNCT
dem-1080	219	82	(	(	PUNCT
dem-1080	219	83	1,2	1,2	NUM
dem-1080	219	84	)	)	PUNCT
dem-1080	219	85	210	210	NUM
dem-1080	219	86	-	-	SYM
dem-1080	219	87	7	7	NUM
dem-1080	219	88	(	(	PUNCT
dem-1080	219	89	610	610	NUM
dem-1080	219	90	-	-	SYM
dem-1080	219	91	8)	8)	NUM
dem-1080	219	92	0.47	0.47	NUM
dem-1080	219	93	(	(	PUNCT
dem-1080	219	94	0.12	0.12	NUM
dem-1080	219	95	)	)	PUNCT
dem-1080	219	96	-0.30	-0.30	NOUN
dem-1080	219	97	(	(	PUNCT
dem-1080	219	98	0.12	0.12	NUM
dem-1080	219	99	)	)	PUNCT
dem-1080	219	100	0.85	0.85	NUM
dem-1080	219	101	(	(	PUNCT
dem-1080	219	102	0.03	0.03	NUM
dem-1080	219	103	)	)	PUNCT
dem-1080	219	104	3	3	NUM
dem-1080	219	105	-710	-710	NUM
dem-1080	219	106	-	-	SYM
dem-1080	219	107	5	5	NUM
dem-1080	219	108	(	(	PUNCT
dem-1080	219	109	510	510	NUM
dem-1080	219	110	-	-	SYM
dem-1080	219	111	5	5	NUM
dem-1080	219	112	)	)	PUNCT
dem-1080	219	113	0.84	0.84	NUM
dem-1080	219	114	(	(	PUNCT
dem-1080	219	115	0.005	0.005	NUM
dem-1080	219	116	)	)	PUNCT
dem-1080	219	117	0.005	0.005	NUM
dem-1080	219	118	(	(	PUNCT
dem-1080	219	119	0.004	0.004	NUM
dem-1080	219	120	)	)	PUNCT
dem-1080	219	121	0.06	0.06	NUM
dem-1080	219	122	(	(	PUNCT
dem-1080	219	123	0.18	0.18	NUM
dem-1080	219	124	)	)	PUNCT
dem-1080	219	125	(	(	PUNCT
dem-1080	219	126	1,1	1,1	NUM
dem-1080	219	127	)	)	PUNCT
dem-1080	219	128	710	710	NUM
dem-1080	219	129	-	-	SYM
dem-1080	219	130	8	8	NUM
dem-1080	219	131	(	(	PUNCT
dem-1080	219	132	210	210	NUM
dem-1080	219	133	-	-	SYM
dem-1080	219	134	8)	8)	NUM
dem-1080	219	135	0.08	0.08	NUM
dem-1080	219	136	(	(	PUNCT
dem-1080	219	137	0.01	0.01	NUM
dem-1080	219	138	)	)	PUNCT
dem-1080	219	139	0.91	0.91	NUM
dem-1080	219	140	(	(	PUNCT
dem-1080	219	141	0.01	0.01	NUM
dem-1080	219	142	)	)	PUNCT
dem-1080	219	143	4	4	NUM
dem-1080	219	144	-110	-110	NUM
dem-1080	219	145	-	-	SYM
dem-1080	219	146	5	5	NUM
dem-1080	219	147	(	(	PUNCT
dem-1080	219	148	510	510	NUM
dem-1080	219	149	-	-	SYM
dem-1080	219	150	5	5	NUM
dem-1080	219	151	)	)	PUNCT
dem-1080	219	152	0.89	0.89	NUM
dem-1080	219	153	(	(	PUNCT
dem-1080	219	154	0.005	0.005	NUM
dem-1080	219	155	)	)	PUNCT
dem-1080	219	156	0.003	0.003	NUM
dem-1080	219	157	(	(	PUNCT
dem-1080	219	158	0.005	0.005	NUM
dem-1080	219	159	)	)	PUNCT
dem-1080	219	160	0.06	0.06	NUM
dem-1080	219	161	(	(	PUNCT
dem-1080	219	162	0.21	0.21	NUM
dem-1080	219	163	)	)	PUNCT
dem-1080	219	164	(	(	PUNCT
dem-1080	219	165	1,1	1,1	NUM
dem-1080	219	166	)	)	PUNCT
dem-1080	219	167	710	710	NUM
dem-1080	219	168	-	-	SYM
dem-1080	219	169	8	8	NUM
dem-1080	219	170	(	(	PUNCT
dem-1080	219	171	210	210	NUM
dem-1080	219	172	-	-	PROPN
dem-1080	219	173	8)	8)	NUM
dem-1080	219	174	0.07	0.07	NUM
dem-1080	219	175	(	(	PUNCT
dem-1080	219	176	0.01	0.01	NUM
dem-1080	219	177	)	)	PUNCT
dem-1080	219	178	0.91	0.91	NUM
dem-1080	219	179	(	(	PUNCT
dem-1080	219	180	0.01	0.01	NUM
dem-1080	219	181	)	)	PUNCT
dem-1080	219	182	5	5	NUM
dem-1080	219	183	710	710	NUM
dem-1080	219	184	-	-	SYM
dem-1080	219	185	5	5	NUM
dem-1080	219	186	(	(	PUNCT
dem-1080	219	187	210	210	NUM
dem-1080	219	188	-	-	SYM
dem-1080	219	189	4	4	NUM
dem-1080	219	190	)	)	PUNCT
dem-1080	219	191	0.34	0.34	NUM
dem-1080	219	192	(	(	PUNCT
dem-1080	219	193	0.02	0.02	NUM
dem-1080	219	194	)	)	PUNCT
dem-1080	219	195	0.25	0.25	NUM
dem-1080	219	196	(	(	PUNCT
dem-1080	219	197	0.02	0.02	NUM
dem-1080	219	198	)	)	PUNCT
dem-1080	219	199	-1.06	-1.06	NOUN
dem-1080	219	200	(	(	PUNCT
dem-1080	219	201	1.07	1.07	NUM
dem-1080	219	202	)	)	PUNCT
dem-1080	219	203	(	(	PUNCT
dem-1080	219	204	2,2	2,2	NUM
dem-1080	219	205	)	)	PUNCT
dem-1080	219	206	410	410	NUM
dem-1080	219	207	-	-	SYM
dem-1080	219	208	6	6	NUM
dem-1080	219	209	(	(	PUNCT
dem-1080	219	210	110	110	NUM
dem-1080	219	211	-	-	SYM
dem-1080	219	212	6	6	NUM
dem-1080	219	213	)	)	PUNCT
dem-1080	219	214	0.17	0.17	NUM
dem-1080	219	215	(	(	PUNCT
dem-1080	219	216	0.04	0.04	NUM
dem-1080	219	217	)	)	PUNCT
dem-1080	219	218	0.20	0.20	NUM
dem-1080	219	219	(	(	PUNCT
dem-1080	219	220	0.04	0.04	NUM
dem-1080	219	221	)	)	PUNCT
dem-1080	219	222	-0.16	-0.16	NOUN
dem-1080	219	223	(	(	PUNCT
dem-1080	219	224	0.05	0.05	NUM
dem-1080	219	225	)	)	PUNCT
dem-1080	219	226	0.74	0.74	NUM
dem-1080	219	227	(	(	PUNCT
dem-1080	219	228	0.05	0.05	NUM
dem-1080	219	229	)	)	PUNCT
dem-1080	219	230	6	6	NUM
dem-1080	219	231	-210	-210	NUM
dem-1080	219	232	-	-	PUNCT
dem-1080	219	233	4	4	NUM
dem-1080	219	234	(	(	PUNCT
dem-1080	219	235	910	910	NUM
dem-1080	219	236	-	-	SYM
dem-1080	219	237	5	5	NUM
dem-1080	219	238	)	)	PUNCT
dem-1080	219	239	0.94	0.94	NUM
dem-1080	219	240	(	(	PUNCT
dem-1080	219	241	0.03	0.03	NUM
dem-1080	219	242	)	)	PUNCT
dem-1080	219	243	0.07	0.07	NUM
dem-1080	219	244	(	(	PUNCT
dem-1080	219	245	0.02	0.02	NUM
dem-1080	219	246	)	)	PUNCT
dem-1080	219	247	0.64	0.64	NUM
dem-1080	219	248	(	(	PUNCT
dem-1080	219	249	0.69	0.69	NUM
dem-1080	219	250	)	)	PUNCT
dem-1080	219	251	(	(	PUNCT
dem-1080	219	252	1,2	1,2	NUM
dem-1080	219	253	)	)	PUNCT
dem-1080	219	254	410	410	NUM
dem-1080	219	255	-	-	SYM
dem-1080	219	256	8	8	NUM
dem-1080	219	257	(	(	PUNCT
dem-1080	219	258	310	310	NUM
dem-1080	219	259	-	-	PROPN
dem-1080	219	260	8)	8)	NUM
dem-1080	219	261	0.28	0.28	NUM
dem-1080	219	262	(	(	PUNCT
dem-1080	219	263	0.04	0.04	NUM
dem-1080	219	264	)	)	PUNCT
dem-1080	219	265	-0.21	-0.21	NUM
dem-1080	219	266	(	(	PUNCT
dem-1080	219	267	0.04	0.04	NUM
dem-1080	219	268	)	)	PUNCT
dem-1080	219	269	0.93	0.93	NUM
dem-1080	219	270	(	(	PUNCT
dem-1080	219	271	0.01	0.01	NUM
dem-1080	219	272	)	)	PUNCT
dem-1080	219	273	7	7	NUM
dem-1080	219	274	-110	-110	NUM
dem-1080	219	275	-	-	SYM
dem-1080	219	276	4	4	NUM
dem-1080	219	277	(	(	PUNCT
dem-1080	219	278	710	710	NUM
dem-1080	219	279	-	-	SYM
dem-1080	219	280	5	5	NUM
dem-1080	219	281	)	)	PUNCT
dem-1080	219	282	0.79	0.79	NUM
dem-1080	219	283	(	(	PUNCT
dem-1080	219	284	0.01	0.01	NUM
dem-1080	219	285	)	)	PUNCT
dem-1080	219	286	0.08	0.08	NUM
dem-1080	219	287	(	(	PUNCT
dem-1080	219	288	0.01	0.01	NUM
dem-1080	219	289	)	)	PUNCT
dem-1080	219	290	-0.28	-0.28	NOUN
dem-1080	219	291	(	(	PUNCT
dem-1080	219	292	0.40	0.40	NUM
dem-1080	219	293	)	)	PUNCT
dem-1080	219	294	(	(	PUNCT
dem-1080	219	295	1,2	1,2	NUM
dem-1080	219	296	)	)	PUNCT
dem-1080	219	297	510	510	NUM
dem-1080	219	298	-	-	SYM
dem-1080	219	299	8	8	NUM
dem-1080	219	300	(	(	PUNCT
dem-1080	219	301	310	310	NUM
dem-1080	219	302	-	-	PROPN
dem-1080	219	303	8)	8)	NUM
dem-1080	219	304	0.35	0.35	NUM
dem-1080	219	305	(	(	PUNCT
dem-1080	219	306	0.04	0.04	NUM
dem-1080	219	307	)	)	PUNCT
dem-1080	219	308	-0.26	-0.26	NOUN
dem-1080	219	309	(	(	PUNCT
dem-1080	219	310	0.04	0.04	NUM
dem-1080	219	311	)	)	PUNCT
dem-1080	219	312	0.91	0.91	NUM
dem-1080	219	313	(	(	PUNCT
dem-1080	219	314	0.01	0.01	NUM
dem-1080	219	315	)	)	PUNCT
dem-1080	219	316	8	8	NUM
dem-1080	219	317	910	910	NUM
dem-1080	219	318	-	-	SYM
dem-1080	219	319	5	5	NUM
dem-1080	219	320	(	(	PUNCT
dem-1080	219	321	610	610	NUM
dem-1080	219	322	-	-	SYM
dem-1080	219	323	5	5	NUM
dem-1080	219	324	)	)	PUNCT
dem-1080	219	325	0.83	0.83	NUM
dem-1080	219	326	(	(	PUNCT
dem-1080	219	327	0.007	0.007	NUM
dem-1080	219	328	)	)	PUNCT
dem-1080	219	329	0.02	0.02	NUM
dem-1080	219	330	(	(	PUNCT
dem-1080	219	331	0.005	0.005	NUM
dem-1080	219	332	)	)	PUNCT
dem-1080	219	333	-0.009	-0.009	NUM
dem-1080	219	334	(	(	PUNCT
dem-1080	219	335	0.29	0.29	NUM
dem-1080	219	336	)	)	PUNCT
dem-1080	219	337	(	(	PUNCT
dem-1080	219	338	1,2	1,2	NUM
dem-1080	219	339	)	)	PUNCT
dem-1080	219	340	510	510	NUM
dem-1080	219	341	-	-	SYM
dem-1080	219	342	8	8	NUM
dem-1080	219	343	(	(	PUNCT
dem-1080	219	344	210	210	NUM
dem-1080	219	345	-	-	PROPN
dem-1080	219	346	8)	8)	NUM
dem-1080	219	347	0.14	0.14	NUM
dem-1080	219	348	(	(	PUNCT
dem-1080	219	349	0.03	0.03	NUM
dem-1080	219	350	)	)	PUNCT
dem-1080	219	351	-0.07	-0.07	X
dem-1080	219	352	(	(	PUNCT
dem-1080	219	353	0.03	0.03	NUM
dem-1080	219	354	)	)	PUNCT
dem-1080	219	355	0.93	0.93	NUM
dem-1080	219	356	(	(	PUNCT
dem-1080	219	357	0.01	0.01	NUM
dem-1080	219	358	)	)	PUNCT
dem-1080	219	359	9	9	NUM
dem-1080	219	360	-210	-210	NUM
dem-1080	219	361	-	-	PUNCT
dem-1080	219	362	4	4	NUM
dem-1080	219	363	(	(	PUNCT
dem-1080	219	364	610	610	NUM
dem-1080	219	365	-	-	SYM
dem-1080	219	366	5	5	NUM
dem-1080	219	367	)	)	PUNCT
dem-1080	219	368	0.81	0.81	NUM
dem-1080	219	369	(	(	PUNCT
dem-1080	219	370	0.008	0.008	NUM
dem-1080	219	371	)	)	PUNCT
dem-1080	219	372	0.009	0.009	NUM
dem-1080	219	373	(	(	PUNCT
dem-1080	219	374	0.005	0.005	NUM
dem-1080	219	375	)	)	PUNCT
dem-1080	219	376	-210	-210	NUM
dem-1080	219	377	-	-	PUNCT
dem-1080	219	378	4	4	NUM
dem-1080	219	379	(	(	PUNCT
dem-1080	219	380	0.31	0.31	NUM
dem-1080	219	381	)	)	PUNCT
dem-1080	219	382	(	(	PUNCT
dem-1080	219	383	2,1	2,1	NUM
dem-1080	219	384	)	)	PUNCT
dem-1080	219	385	810	810	NUM
dem-1080	219	386	-	-	SYM
dem-1080	219	387	8	8	NUM
dem-1080	219	388	(	(	PUNCT
dem-1080	219	389	410	410	NUM
dem-1080	219	390	-	-	SYM
dem-1080	219	391	8)	8)	NUM
dem-1080	219	392	0.13	0.13	NUM
dem-1080	219	393	(	(	PUNCT
dem-1080	219	394	0.03	0.03	NUM
dem-1080	219	395	)	)	PUNCT
dem-1080	219	396	0.33	0.33	NUM
dem-1080	219	397	(	(	PUNCT
dem-1080	219	398	0.18	0.18	NUM
dem-1080	219	399	)	)	PUNCT
dem-1080	219	400	0.54	0.54	NUM
dem-1080	219	401	(	(	PUNCT
dem-1080	219	402	0.18	0.18	NUM
dem-1080	219	403	)	)	PUNCT
dem-1080	219	404	10	10	NUM
dem-1080	219	405	210	210	NUM
dem-1080	219	406	-	-	SYM
dem-1080	219	407	5	5	NUM
dem-1080	219	408	(	(	PUNCT
dem-1080	219	409	110	110	NUM
dem-1080	219	410	-	-	SYM
dem-1080	219	411	4	4	NUM
dem-1080	219	412	)	)	PUNCT
dem-1080	219	413	0.14	0.14	NUM
dem-1080	219	414	(	(	PUNCT
dem-1080	219	415	0.08	0.08	NUM
dem-1080	219	416	)	)	PUNCT
dem-1080	219	417	0.64	0.64	NUM
dem-1080	219	418	(	(	PUNCT
dem-1080	219	419	0.04	0.04	NUM
dem-1080	219	420	)	)	PUNCT
dem-1080	219	421	-0.89	-0.89	NUM
dem-1080	219	422	(	(	PUNCT
dem-1080	219	423	0.79	0.79	NUM
dem-1080	219	424	)	)	PUNCT
dem-1080	219	425	(	(	PUNCT
dem-1080	219	426	1,2	1,2	NUM
dem-1080	219	427	)	)	PUNCT
dem-1080	219	428	910	910	NUM
dem-1080	219	429	-	-	SYM
dem-1080	219	430	8	8	NUM
dem-1080	219	431	(	(	PUNCT
dem-1080	219	432	610	610	NUM
dem-1080	219	433	-	-	SYM
dem-1080	219	434	8)	8)	NUM
dem-1080	219	435	0.40	0.40	NUM
dem-1080	219	436	(	(	PUNCT
dem-1080	219	437	0.07	0.07	NUM
dem-1080	219	438	)	)	PUNCT
dem-1080	219	439	-0.30	-0.30	VERB
dem-1080	219	440	(	(	PUNCT
dem-1080	219	441	0.07	0.07	NUM
dem-1080	219	442	)	)	PUNCT
dem-1080	219	443	0.91	0.91	NUM
dem-1080	219	444	(	(	PUNCT
dem-1080	219	445	0.02	0.02	NUM
dem-1080	219	446	)	)	PUNCT
dem-1080	219	447	11	11	NUM
dem-1080	219	448	-210	-210	NUM
dem-1080	219	449	-	-	PUNCT
dem-1080	219	450	4	4	NUM
dem-1080	219	451	(	(	PUNCT
dem-1080	219	452	610	610	NUM
dem-1080	219	453	-	-	SYM
dem-1080	219	454	5	5	NUM
dem-1080	219	455	)	)	PUNCT
dem-1080	219	456	0.89	0.89	NUM
dem-1080	219	457	(	(	PUNCT
dem-1080	219	458	0.006	0.006	NUM
dem-1080	219	459	)	)	PUNCT
dem-1080	219	460	0.02	0.02	NUM
dem-1080	219	461	(	(	PUNCT
dem-1080	219	462	0.005	0.005	NUM
dem-1080	219	463	)	)	PUNCT
dem-1080	219	464	-0.38	-0.38	PUNCT
dem-1080	219	465	(	(	PUNCT
dem-1080	219	466	0.28	0.28	NUM
dem-1080	219	467	)	)	PUNCT
dem-1080	219	468	(	(	PUNCT
dem-1080	219	469	2,1	2,1	NUM
dem-1080	219	470	)	)	PUNCT
dem-1080	219	471	910	910	NUM
dem-1080	219	472	-	-	SYM
dem-1080	219	473	8	8	NUM
dem-1080	219	474	(	(	PUNCT
dem-1080	219	475	410	410	NUM
dem-1080	219	476	-	-	SYM
dem-1080	219	477	8)	8)	NUM
dem-1080	219	478	0.13	0.13	NUM
dem-1080	219	479	(	(	PUNCT
dem-1080	219	480	0.02	0.02	NUM
dem-1080	219	481	)	)	PUNCT
dem-1080	219	482	0.39	0.39	NUM
dem-1080	219	483	(	(	PUNCT
dem-1080	219	484	0.10	0.10	NUM
dem-1080	219	485	)	)	PUNCT
dem-1080	219	486	0.47	0.47	NUM
dem-1080	219	487	(	(	PUNCT
dem-1080	219	488	0.09	0.09	NUM
dem-1080	219	489	)	)	PUNCT
dem-1080	219	490	12	12	NUM
dem-1080	219	491	-410	-410	PROPN
dem-1080	219	492	-	-	SYM
dem-1080	219	493	5	5	NUM
dem-1080	219	494	(	(	PUNCT
dem-1080	219	495	910	910	NUM
dem-1080	219	496	-	-	SYM
dem-1080	219	497	5	5	NUM
dem-1080	219	498	)	)	PUNCT
dem-1080	219	499	0.73	0.73	NUM
dem-1080	219	500	(	(	PUNCT
dem-1080	219	501	0.02	0.02	NUM
dem-1080	219	502	)	)	PUNCT
dem-1080	219	503	0.06	0.06	NUM
dem-1080	219	504	(	(	PUNCT
dem-1080	219	505	0.01	0.01	NUM
dem-1080	219	506	)	)	PUNCT
dem-1080	219	507	-0.34	-0.34	NOUN
dem-1080	219	508	(	(	PUNCT
dem-1080	219	509	0.52	0.52	NUM
dem-1080	219	510	)	)	PUNCT
dem-1080	219	511	(	(	PUNCT
dem-1080	219	512	1,2	1,2	NUM
dem-1080	219	513	)	)	PUNCT
dem-1080	219	514	610	610	NUM
dem-1080	219	515	-	-	SYM
dem-1080	219	516	8	8	NUM
dem-1080	219	517	(	(	PUNCT
dem-1080	219	518	310	310	NUM
dem-1080	219	519	-	-	PROPN
dem-1080	219	520	8)	8)	NUM
dem-1080	219	521	0.27	0.27	NUM
dem-1080	219	522	(	(	PUNCT
dem-1080	219	523	0.04	0.04	NUM
dem-1080	219	524	)	)	PUNCT
dem-1080	219	525	-0.17	-0.17	NOUN
dem-1080	219	526	(	(	PUNCT
dem-1080	219	527	0.03	0.03	NUM
dem-1080	219	528	)	)	PUNCT
dem-1080	219	529	0.91	0.91	NUM
dem-1080	219	530	(	(	PUNCT
dem-1080	219	531	0.01	0.01	NUM
dem-1080	219	532	)	)	PUNCT
dem-1080	219	533	13	13	NUM
dem-1080	219	534	-110	-110	NUM
dem-1080	219	535	-	-	SYM
dem-1080	219	536	4	4	NUM
dem-1080	219	537	(	(	PUNCT
dem-1080	219	538	510	510	NUM
dem-1080	219	539	-	-	SYM
dem-1080	219	540	5	5	NUM
dem-1080	219	541	)	)	PUNCT
dem-1080	219	542	0.84	0.84	NUM
dem-1080	219	543	(	(	PUNCT
dem-1080	219	544	0.005	0.005	NUM
dem-1080	219	545	)	)	PUNCT
dem-1080	219	546	0.01	0.01	NUM
dem-1080	219	547	(	(	PUNCT
dem-1080	219	548	0.004	0.004	NUM
dem-1080	219	549	)	)	PUNCT
dem-1080	219	550	-0.17	-0.17	PROPN
dem-1080	219	551	(	(	PUNCT
dem-1080	219	552	0.18	0.18	NUM
dem-1080	219	553	)	)	PUNCT
dem-1080	219	554	(	(	PUNCT
dem-1080	219	555	1,1	1,1	NUM
dem-1080	219	556	)	)	PUNCT
dem-1080	219	557	610	610	NUM
dem-1080	219	558	-	-	SYM
dem-1080	219	559	8	8	NUM
dem-1080	219	560	(	(	PUNCT
dem-1080	219	561	210	210	NUM
dem-1080	219	562	-	-	PROPN
dem-1080	219	563	8)	8)	NUM
dem-1080	219	564	0.10	0.10	NUM
dem-1080	219	565	(	(	PUNCT
dem-1080	219	566	0.02	0.02	NUM
dem-1080	219	567	)	)	PUNCT
dem-1080	219	568	0.90	0.90	NUM
dem-1080	219	569	(	(	PUNCT
dem-1080	219	570	0.02	0.02	NUM
dem-1080	219	571	)	)	PUNCT
dem-1080	219	572	14	14	NUM
dem-1080	219	573	210	210	NUM
dem-1080	219	574	-	-	SYM
dem-1080	219	575	5	5	NUM
dem-1080	219	576	(	(	PUNCT
dem-1080	219	577	110	110	NUM
dem-1080	219	578	-	-	SYM
dem-1080	219	579	4	4	NUM
dem-1080	219	580	)	)	PUNCT
dem-1080	219	581	0.42	0.42	NUM
dem-1080	219	582	(	(	PUNCT
dem-1080	219	583	0.05	0.05	NUM
dem-1080	219	584	)	)	PUNCT
dem-1080	219	585	0.41	0.41	NUM
dem-1080	219	586	(	(	PUNCT
dem-1080	219	587	0.05	0.05	NUM
dem-1080	219	588	)	)	PUNCT
dem-1080	219	589	0.35	0.35	NUM
dem-1080	219	590	(	(	PUNCT
dem-1080	219	591	0.88	0.88	NUM
dem-1080	219	592	)	)	PUNCT
dem-1080	219	593	(	(	PUNCT
dem-1080	219	594	1,2	1,2	NUM
dem-1080	219	595	)	)	PUNCT
dem-1080	219	596	910	910	NUM
dem-1080	219	597	-	-	SYM
dem-1080	219	598	7	7	NUM
dem-1080	219	599	(	(	PUNCT
dem-1080	219	600	410	410	NUM
dem-1080	219	601	-	-	SYM
dem-1080	219	602	7	7	NUM
dem-1080	219	603	)	)	PUNCT
dem-1080	219	604	0.24	0.24	NUM
dem-1080	219	605	(	(	PUNCT
dem-1080	219	606	0.04	0.04	NUM
dem-1080	219	607	)	)	PUNCT
dem-1080	219	608	-0.16	-0.16	NUM
dem-1080	219	609	(	(	PUNCT
dem-1080	219	610	0.04	0.04	NUM
dem-1080	219	611	)	)	PUNCT
dem-1080	219	612	0.91	0.91	NUM
dem-1080	219	613	(	(	PUNCT
dem-1080	219	614	0.02	0.02	NUM
dem-1080	219	615	)	)	PUNCT
dem-1080	219	616	15	15	NUM
dem-1080	219	617	-610	-610	NOUN
dem-1080	219	618	-	-	SYM
dem-1080	219	619	5	5	NUM
dem-1080	219	620	(	(	PUNCT
dem-1080	219	621	110	110	NUM
dem-1080	219	622	-	-	SYM
dem-1080	219	623	4	4	NUM
dem-1080	219	624	)	)	PUNCT
dem-1080	219	625	0.40	0.40	NUM
dem-1080	219	626	(	(	PUNCT
dem-1080	219	627	0.04	0.04	NUM
dem-1080	219	628	)	)	PUNCT
dem-1080	219	629	0.53	0.53	NUM
dem-1080	219	630	(	(	PUNCT
dem-1080	219	631	0.03	0.03	NUM
dem-1080	219	632	)	)	PUNCT
dem-1080	219	633	0.80	0.80	NUM
dem-1080	219	634	(	(	PUNCT
dem-1080	219	635	1.08	1.08	NUM
dem-1080	219	636	)	)	PUNCT
dem-1080	219	637	(	(	PUNCT
dem-1080	219	638	1,2	1,2	NUM
dem-1080	219	639	)	)	PUNCT
dem-1080	219	640	810	810	NUM
dem-1080	219	641	-	-	SYM
dem-1080	219	642	7	7	NUM
dem-1080	219	643	(	(	PUNCT
dem-1080	219	644	510	510	NUM
dem-1080	219	645	-	-	SYM
dem-1080	219	646	7	7	NUM
dem-1080	219	647	)	)	PUNCT
dem-1080	219	648	0.29	0.29	NUM
dem-1080	219	649	(	(	PUNCT
dem-1080	219	650	0.03	0.03	NUM
dem-1080	219	651	)	)	PUNCT
dem-1080	219	652	-0.20	-0.20	NOUN
dem-1080	219	653	(	(	PUNCT
dem-1080	219	654	0.04	0.04	NUM
dem-1080	219	655	)	)	PUNCT
dem-1080	219	656	0.90	0.90	NUM
dem-1080	219	657	(	(	PUNCT
dem-1080	219	658	0.03	0.03	NUM
dem-1080	219	659	)	)	PUNCT
dem-1080	219	660	note	note	NOUN
dem-1080	219	661	:	:	PUNCT
dem-1080	219	662	the	the	DET
dem-1080	219	663	table	table	NOUN
dem-1080	219	664	is	be	AUX
dem-1080	219	665	based	base	VERB
dem-1080	219	666	on	on	ADP
dem-1080	219	667	the	the	DET
dem-1080	219	668	entire	entire	ADJ
dem-1080	219	669	sample	sample	NOUN
dem-1080	219	670	p1	p1	NOUN
dem-1080	219	671	;	;	PUNCT
dem-1080	219	672	t	t	PROPN
dem-1080	219	673	-	-	PUNCT
dem-1080	219	674	m	m	PROPN
dem-1080	219	675	(	(	PUNCT
dem-1080	219	676	2	2	NUM
dem-1080	219	677	)	)	PUNCT
dem-1080	219	678	is	be	AUX
dem-1080	219	679	the	the	DET
dem-1080	219	680	classical	classical	ADJ
dem-1080	219	681	treynor	treynor	NOUN
dem-1080	219	682	-	-	PUNCT
dem-1080	219	683	mazuy	mazuy	NOUN
dem-1080	219	684	model	model	NOUN
dem-1080	219	685	with	with	ADP
dem-1080	219	686	the	the	DET
dem-1080	219	687	lagged	lag	VERB
dem-1080	219	688	excess	excess	ADJ
dem-1080	219	689	return	return	NOUN
dem-1080	219	690	on	on	ADP
dem-1080	219	691	market	market	NOUN
dem-1080	219	692	portfolio	portfolio	NOUN
dem-1080	219	693	m	m	VERB
dem-1080	219	694	as	as	ADP
dem-1080	219	695	additional	additional	ADJ
dem-1080	219	696	factor	factor	NOUN
dem-1080	219	697	;	;	PUNCT
dem-1080	219	698	the	the	DET
dem-1080	219	699	heteroskedastic	heteroskedastic	ADJ
dem-1080	219	700	consistent	consistent	ADJ
dem-1080	219	701	standard	standard	ADJ
dem-1080	219	702	errors	error	NOUN
dem-1080	219	703	are	be	AUX
dem-1080	219	704	in	in	ADP
dem-1080	219	705	parentheses	parenthesis	NOUN
dem-1080	219	706	below	below	ADP
dem-1080	219	707	the	the	DET
dem-1080	219	708	coefficient	coefficient	NOUN
dem-1080	219	709	estimates	estimate	NOUN
dem-1080	219	710	;	;	PUNCT
dem-1080	219	711	the	the	DET
dem-1080	219	712	variance	variance	NOUN
dem-1080	219	713	-	-	PUNCT
dem-1080	219	714	covariance	covariance	NOUN
dem-1080	219	715	matrix	matrix	NOUN
dem-1080	219	716	of	of	ADP
dem-1080	219	717	the	the	DET
dem-1080	219	718	estimated	estimate	VERB
dem-1080	219	719	parameters	parameter	NOUN
dem-1080	219	720	is	be	AUX
dem-1080	219	721	based	base	VERB
dem-1080	219	722	on	on	ADP
dem-1080	219	723	the	the	DET
dem-1080	219	724	qml	qml	PROPN
dem-1080	219	725	algorithm	algorithm	NOUN
dem-1080	219	726	;	;	PUNCT
dem-1080	219	727	the	the	DET
dem-1080	219	728	distribution	distribution	NOUN
dem-1080	219	729	for	for	ADP
dem-1080	219	730	the	the	DET
dem-1080	219	731	innovations	innovation	NOUN
dem-1080	219	732	is	be	AUX
dem-1080	219	733	supposed	suppose	VERB
dem-1080	219	734	to	to	PART
dem-1080	219	735	be	be	AUX
dem-1080	219	736	normal	normal	ADJ
dem-1080	219	737	.	.	PUNCT
dem-1080	220	1	joanna	joanna	PROPN
dem-1080	220	2	olbryś	olbryś	ADJ
dem-1080	220	3	198	198	NUM
dem-1080	220	4	table	table	NOUN
dem-1080	220	5	6b	6b	NOUN
dem-1080	220	6	.	.	PUNCT
dem-1080	221	1	the	the	DET
dem-1080	221	2	garch(p	garch(p	PROPN
dem-1080	221	3	,	,	PUNCT
dem-1080	221	4	q	q	ADJ
dem-1080	221	5	)	)	PUNCT
dem-1080	221	6	versions	version	NOUN
dem-1080	221	7	of	of	ADP
dem-1080	221	8	the	the	DET
dem-1080	221	9	h	h	NOUN
dem-1080	221	10	-	-	PUNCT
dem-1080	221	11	m	m	NOUN
dem-1080	221	12	market	market	NOUN
dem-1080	221	13	-	-	PUNCT
dem-1080	221	14	timing	timing	NOUN
dem-1080	221	15	models	model	NOUN
dem-1080	221	16	of	of	ADP
dem-1080	221	17	polish	polish	ADJ
dem-1080	221	18	equity	equity	NOUN
dem-1080	221	19	mutual	mutual	ADJ
dem-1080	221	20	funds	fund	NOUN
dem-1080	221	21	in	in	ADP
dem-1080	221	22	the	the	DET
dem-1080	221	23	entire	entire	ADJ
dem-1080	221	24	period	period	NOUN
dem-1080	221	25	from	from	ADP
dem-1080	221	26	jan	jan	PROPN
dem-1080	221	27	2	2	NUM
dem-1080	221	28	,	,	PUNCT
dem-1080	221	29	2003	2003	NUM
dem-1080	221	30	to	to	ADP
dem-1080	221	31	june	june	PROPN
dem-1080	221	32	30	30	NUM
dem-1080	221	33	,	,	PUNCT
dem-1080	221	34	2011	2011	NUM
dem-1080	221	35	fu	fu	NOUN
dem-1080	221	36	nd	nd	INTJ
dem-1080	221	37	.	.	PUNCT
dem-1080	222	1	n	n	CCONJ
dem-1080	222	2	o.	o.	NOUN
dem-1080	222	3	h	h	PROPN
dem-1080	222	4	-	-	PUNCT
dem-1080	222	5	m	m	PROPN
dem-1080	222	6	model	model	NOUN
dem-1080	222	7	–	–	PUNCT
dem-1080	222	8	conditional	conditional	ADJ
dem-1080	222	9	mean	mean	NOUN
dem-1080	222	10	equation	equation	NOUN
dem-1080	222	11	(	(	PUNCT
dem-1080	222	12	p	p	X
dem-1080	222	13	,	,	PUNCT
dem-1080	222	14	q	q	ADJ
dem-1080	222	15	)	)	PUNCT
dem-1080	222	16	conditional	conditional	ADJ
dem-1080	222	17	variance	variance	NOUN
dem-1080	222	18	equation	equation	NOUN
dem-1080	222	19	p̂	p̂	NOUN
dem-1080	222	20	1p̂	1p̂	PROPN
dem-1080	222	21	2p	2p	NUM
dem-1080	222	22	p̂	p̂	PUNCT
dem-1080	222	23	0̂	0̂	NUM
dem-1080	222	24	1	1	NOUN
dem-1080	222	25	2̂	2̂	NUM
dem-1080	222	26	1̂	1̂	PROPN
dem-1080	222	27	2̂	2̂	NUM
dem-1080	222	28	1	1	NUM
dem-1080	222	29	510	510	NUM
dem-1080	222	30	-	-	SYM
dem-1080	222	31	4	4	NUM
dem-1080	222	32	(	(	PUNCT
dem-1080	222	33	110	110	NUM
dem-1080	222	34	-	-	SYM
dem-1080	222	35	4	4	NUM
dem-1080	222	36	)	)	PUNCT
dem-1080	222	37	0.75	0.75	NUM
dem-1080	222	38	(	(	PUNCT
dem-1080	222	39	0.02	0.02	NUM
dem-1080	222	40	)	)	PUNCT
dem-1080	222	41	0.04	0.04	NUM
dem-1080	222	42	(	(	PUNCT
dem-1080	222	43	0.01	0.01	NUM
dem-1080	222	44	)	)	PUNCT
dem-1080	222	45	-0.10	-0.10	NUM
dem-1080	222	46	(	(	PUNCT
dem-1080	222	47	0.03	0.03	NUM
dem-1080	222	48	)	)	PUNCT
dem-1080	222	49	(	(	PUNCT
dem-1080	222	50	1,1	1,1	NUM
dem-1080	222	51	)	)	PUNCT
dem-1080	222	52	210	210	NUM
dem-1080	222	53	-	-	SYM
dem-1080	222	54	7	7	NUM
dem-1080	222	55	(	(	PUNCT
dem-1080	222	56	110	110	NUM
dem-1080	222	57	-	-	SYM
dem-1080	222	58	7	7	NUM
dem-1080	222	59	)	)	PUNCT
dem-1080	222	60	0.09	0.09	NUM
dem-1080	222	61	(	(	PUNCT
dem-1080	222	62	0.02	0.02	NUM
dem-1080	222	63	)	)	PUNCT
dem-1080	222	64	0.90	0.90	NUM
dem-1080	222	65	(	(	PUNCT
dem-1080	222	66	0.02	0.02	NUM
dem-1080	222	67	)	)	PUNCT
dem-1080	222	68	2	2	NUM
dem-1080	222	69	810	810	NUM
dem-1080	222	70	-	-	SYM
dem-1080	222	71	4	4	NUM
dem-1080	222	72	(	(	PUNCT
dem-1080	222	73	710	710	NUM
dem-1080	222	74	-	-	SYM
dem-1080	222	75	5	5	NUM
dem-1080	222	76	)	)	PUNCT
dem-1080	222	77	0.75	0.75	NUM
dem-1080	222	78	(	(	PUNCT
dem-1080	222	79	0.03	0.03	NUM
dem-1080	222	80	)	)	PUNCT
dem-1080	222	81	0.02	0.02	NUM
dem-1080	222	82	(	(	PUNCT
dem-1080	222	83	0.005	0.005	NUM
dem-1080	222	84	)	)	PUNCT
dem-1080	222	85	-0.18	-0.18	NUM
dem-1080	222	86	(	(	PUNCT
dem-1080	222	87	0.03	0.03	NUM
dem-1080	222	88	)	)	PUNCT
dem-1080	222	89	(	(	PUNCT
dem-1080	222	90	1,2	1,2	NUM
dem-1080	222	91	)	)	PUNCT
dem-1080	222	92	210	210	NUM
dem-1080	222	93	-	-	SYM
dem-1080	222	94	7	7	NUM
dem-1080	222	95	(	(	PUNCT
dem-1080	222	96	610	610	NUM
dem-1080	222	97	-	-	SYM
dem-1080	222	98	8)	8)	NUM
dem-1080	222	99	0.52	0.52	NUM
dem-1080	222	100	(	(	PUNCT
dem-1080	222	101	0.17	0.17	NUM
dem-1080	222	102	)	)	PUNCT
dem-1080	222	103	-0.37	-0.37	NUM
dem-1080	222	104	(	(	PUNCT
dem-1080	222	105	0.16	0.16	NUM
dem-1080	222	106	)	)	PUNCT
dem-1080	222	107	0.86	0.86	NUM
dem-1080	222	108	(	(	PUNCT
dem-1080	222	109	0.03	0.03	NUM
dem-1080	222	110	)	)	PUNCT
dem-1080	222	111	3	3	NUM
dem-1080	222	112	-610	-610	NOUN
dem-1080	222	113	-	-	SYM
dem-1080	222	114	5	5	NUM
dem-1080	222	115	(	(	PUNCT
dem-1080	222	116	710	710	NUM
dem-1080	222	117	-	-	SYM
dem-1080	222	118	5	5	NUM
dem-1080	222	119	)	)	PUNCT
dem-1080	222	120	0.83	0.83	NUM
dem-1080	222	121	(	(	PUNCT
dem-1080	222	122	0.008	0.008	NUM
dem-1080	222	123	)	)	PUNCT
dem-1080	222	124	0.005	0.005	NUM
dem-1080	222	125	(	(	PUNCT
dem-1080	222	126	0.004	0.004	NUM
dem-1080	222	127	)	)	PUNCT
dem-1080	222	128	-410	-410	PROPN
dem-1080	222	129	-	-	SYM
dem-1080	222	130	4	4	NUM
dem-1080	222	131	(	(	PUNCT
dem-1080	222	132	0.01	0.01	NUM
dem-1080	222	133	)	)	PUNCT
dem-1080	222	134	(	(	PUNCT
dem-1080	222	135	1,1	1,1	NUM
dem-1080	222	136	)	)	PUNCT
dem-1080	222	137	710	710	NUM
dem-1080	222	138	-	-	SYM
dem-1080	222	139	8	8	NUM
dem-1080	222	140	(	(	PUNCT
dem-1080	222	141	210	210	NUM
dem-1080	222	142	-	-	SYM
dem-1080	222	143	8)	8)	NUM
dem-1080	222	144	0.08	0.08	NUM
dem-1080	222	145	(	(	PUNCT
dem-1080	222	146	0.01	0.01	NUM
dem-1080	222	147	)	)	PUNCT
dem-1080	222	148	0.91	0.91	NUM
dem-1080	222	149	(	(	PUNCT
dem-1080	222	150	0.01	0.01	NUM
dem-1080	222	151	)	)	PUNCT
dem-1080	222	152	4	4	NUM
dem-1080	222	153	-410	-410	PROPN
dem-1080	222	154	-	-	SYM
dem-1080	222	155	5	5	NUM
dem-1080	222	156	(	(	PUNCT
dem-1080	222	157	710	710	NUM
dem-1080	222	158	-	-	SYM
dem-1080	222	159	5	5	NUM
dem-1080	222	160	)	)	PUNCT
dem-1080	222	161	0.89	0.89	NUM
dem-1080	222	162	(	(	PUNCT
dem-1080	222	163	0.009	0.009	NUM
dem-1080	222	164	)	)	PUNCT
dem-1080	222	165	0.002	0.002	NUM
dem-1080	222	166	(	(	PUNCT
dem-1080	222	167	0.005	0.005	NUM
dem-1080	222	168	)	)	PUNCT
dem-1080	222	169	-0.01	-0.01	NUM
dem-1080	222	170	(	(	PUNCT
dem-1080	222	171	0.01	0.01	NUM
dem-1080	222	172	)	)	PUNCT
dem-1080	222	173	(	(	PUNCT
dem-1080	222	174	1,1	1,1	NUM
dem-1080	222	175	)	)	PUNCT
dem-1080	222	176	710	710	NUM
dem-1080	222	177	-	-	SYM
dem-1080	222	178	8	8	NUM
dem-1080	222	179	(	(	PUNCT
dem-1080	222	180	210	210	NUM
dem-1080	222	181	-	-	SYM
dem-1080	222	182	8)	8)	NUM
dem-1080	222	183	0.08	0.08	NUM
dem-1080	222	184	(	(	PUNCT
dem-1080	222	185	0.01	0.01	NUM
dem-1080	222	186	)	)	PUNCT
dem-1080	222	187	0.91	0.91	NUM
dem-1080	222	188	(	(	PUNCT
dem-1080	222	189	0.01	0.01	NUM
dem-1080	222	190	)	)	PUNCT
dem-1080	222	191	5	5	NUM
dem-1080	222	192	210	210	NUM
dem-1080	222	193	-	-	SYM
dem-1080	222	194	4	4	NUM
dem-1080	222	195	(	(	PUNCT
dem-1080	222	196	210	210	NUM
dem-1080	222	197	-	-	SYM
dem-1080	222	198	4	4	NUM
dem-1080	222	199	)	)	PUNCT
dem-1080	222	200	0.33	0.33	NUM
dem-1080	222	201	(	(	PUNCT
dem-1080	222	202	0.03	0.03	NUM
dem-1080	222	203	)	)	PUNCT
dem-1080	222	204	0.25	0.25	NUM
dem-1080	222	205	(	(	PUNCT
dem-1080	222	206	0.02	0.02	NUM
dem-1080	222	207	)	)	PUNCT
dem-1080	222	208	-0.06	-0.06	NUM
dem-1080	222	209	(	(	PUNCT
dem-1080	222	210	0.06	0.06	NUM
dem-1080	222	211	)	)	PUNCT
dem-1080	222	212	(	(	PUNCT
dem-1080	222	213	2,2	2,2	NUM
dem-1080	222	214	)	)	PUNCT
dem-1080	222	215	310	310	NUM
dem-1080	222	216	-	-	NUM
dem-1080	222	217	8	8	NUM
dem-1080	222	218	(	(	PUNCT
dem-1080	222	219	110	110	NUM
dem-1080	222	220	-	-	PROPN
dem-1080	222	221	8)	8)	NUM
dem-1080	222	222	0.20	0.20	NUM
dem-1080	222	223	(	(	PUNCT
dem-1080	222	224	0.04	0.04	NUM
dem-1080	222	225	)	)	PUNCT
dem-1080	222	226	-0.20	-0.20	NOUN
dem-1080	222	227	(	(	PUNCT
dem-1080	222	228	0.04	0.04	NUM
dem-1080	222	229	)	)	PUNCT
dem-1080	222	230	1.70	1.70	NUM
dem-1080	222	231	(	(	PUNCT
dem-1080	222	232	0.06	0.06	NUM
dem-1080	222	233	)	)	PUNCT
dem-1080	222	234	-0.70	-0.70	NOUN
dem-1080	222	235	(	(	PUNCT
dem-1080	222	236	0.05	0.05	NUM
dem-1080	222	237	)	)	PUNCT
dem-1080	222	238	6	6	NUM
dem-1080	222	239	-310	-310	NUM
dem-1080	222	240	-	-	SYM
dem-1080	222	241	4	4	NUM
dem-1080	222	242	(	(	PUNCT
dem-1080	222	243	110	110	NUM
dem-1080	222	244	-	-	SYM
dem-1080	222	245	4	4	NUM
dem-1080	222	246	)	)	PUNCT
dem-1080	222	247	0.97	0.97	NUM
dem-1080	222	248	(	(	PUNCT
dem-1080	222	249	0.03	0.03	NUM
dem-1080	222	250	)	)	PUNCT
dem-1080	222	251	0.07	0.07	NUM
dem-1080	222	252	(	(	PUNCT
dem-1080	222	253	0.02	0.02	NUM
dem-1080	222	254	)	)	PUNCT
dem-1080	222	255	0.05	0.05	NUM
dem-1080	222	256	(	(	PUNCT
dem-1080	222	257	0.04	0.04	NUM
dem-1080	222	258	)	)	PUNCT
dem-1080	222	259	(	(	PUNCT
dem-1080	222	260	1,2	1,2	NUM
dem-1080	222	261	)	)	PUNCT
dem-1080	222	262	410	410	NUM
dem-1080	222	263	-	-	SYM
dem-1080	222	264	8	8	NUM
dem-1080	222	265	(	(	PUNCT
dem-1080	222	266	310	310	NUM
dem-1080	222	267	-	-	PROPN
dem-1080	222	268	8)	8)	NUM
dem-1080	222	269	0.29	0.29	NUM
dem-1080	222	270	(	(	PUNCT
dem-1080	222	271	0.04	0.04	NUM
dem-1080	222	272	)	)	PUNCT
dem-1080	222	273	-0.21	-0.21	NUM
dem-1080	222	274	(	(	PUNCT
dem-1080	222	275	0.04	0.04	NUM
dem-1080	222	276	)	)	PUNCT
dem-1080	222	277	0.93	0.93	NUM
dem-1080	222	278	(	(	PUNCT
dem-1080	222	279	0.01	0.01	NUM
dem-1080	222	280	)	)	PUNCT
dem-1080	222	281	7	7	NUM
dem-1080	222	282	-110	-110	NUM
dem-1080	222	283	-	-	SYM
dem-1080	222	284	4	4	NUM
dem-1080	222	285	(	(	PUNCT
dem-1080	222	286	110	110	NUM
dem-1080	222	287	-	-	SYM
dem-1080	222	288	4	4	NUM
dem-1080	222	289	)	)	PUNCT
dem-1080	222	290	0.78	0.78	NUM
dem-1080	222	291	(	(	PUNCT
dem-1080	222	292	0.02	0.02	NUM
dem-1080	222	293	)	)	PUNCT
dem-1080	222	294	0.08	0.08	NUM
dem-1080	222	295	(	(	PUNCT
dem-1080	222	296	0.01	0.01	NUM
dem-1080	222	297	)	)	PUNCT
dem-1080	222	298	-0.02	-0.02	NUM
dem-1080	222	299	(	(	PUNCT
dem-1080	222	300	0.02	0.02	NUM
dem-1080	222	301	)	)	PUNCT
dem-1080	222	302	(	(	PUNCT
dem-1080	222	303	1,2	1,2	NUM
dem-1080	222	304	)	)	PUNCT
dem-1080	222	305	510	510	NUM
dem-1080	222	306	-	-	SYM
dem-1080	222	307	8	8	NUM
dem-1080	222	308	(	(	PUNCT
dem-1080	222	309	310	310	NUM
dem-1080	222	310	-	-	PROPN
dem-1080	222	311	8)	8)	NUM
dem-1080	222	312	0.35	0.35	NUM
dem-1080	222	313	(	(	PUNCT
dem-1080	222	314	0.04	0.04	NUM
dem-1080	222	315	)	)	PUNCT
dem-1080	222	316	-0.25	-0.25	NUM
dem-1080	222	317	(	(	PUNCT
dem-1080	222	318	0.04	0.04	NUM
dem-1080	222	319	)	)	PUNCT
dem-1080	222	320	0.91	0.91	NUM
dem-1080	222	321	(	(	PUNCT
dem-1080	222	322	0.01	0.01	NUM
dem-1080	222	323	)	)	PUNCT
dem-1080	222	324	8	8	NUM
dem-1080	222	325	910	910	NUM
dem-1080	222	326	-	-	SYM
dem-1080	222	327	5	5	NUM
dem-1080	222	328	(	(	PUNCT
dem-1080	222	329	910	910	NUM
dem-1080	222	330	-	-	SYM
dem-1080	222	331	5	5	NUM
dem-1080	222	332	)	)	PUNCT
dem-1080	222	333	0.83	0.83	NUM
dem-1080	222	334	(	(	PUNCT
dem-1080	222	335	0.01	0.01	NUM
dem-1080	222	336	)	)	PUNCT
dem-1080	222	337	0.02	0.02	NUM
dem-1080	222	338	(	(	PUNCT
dem-1080	222	339	0.005	0.005	NUM
dem-1080	222	340	)	)	PUNCT
dem-1080	222	341	-810	-810	NUM
dem-1080	222	342	-	-	SYM
dem-1080	222	343	4	4	NUM
dem-1080	222	344	(	(	PUNCT
dem-1080	222	345	0.02	0.02	NUM
dem-1080	222	346	)	)	PUNCT
dem-1080	222	347	(	(	PUNCT
dem-1080	222	348	1,2	1,2	NUM
dem-1080	222	349	)	)	PUNCT
dem-1080	222	350	610	610	NUM
dem-1080	222	351	-	-	SYM
dem-1080	222	352	8	8	NUM
dem-1080	222	353	(	(	PUNCT
dem-1080	222	354	210	210	NUM
dem-1080	222	355	-	-	PROPN
dem-1080	222	356	8)	8)	NUM
dem-1080	222	357	0.14	0.14	NUM
dem-1080	222	358	(	(	PUNCT
dem-1080	222	359	0.03	0.03	NUM
dem-1080	222	360	)	)	PUNCT
dem-1080	222	361	-0.07	-0.07	X
dem-1080	222	362	(	(	PUNCT
dem-1080	222	363	0.03	0.03	NUM
dem-1080	222	364	)	)	PUNCT
dem-1080	222	365	0.93	0.93	NUM
dem-1080	222	366	(	(	PUNCT
dem-1080	222	367	0.01	0.01	NUM
dem-1080	222	368	)	)	PUNCT
dem-1080	222	369	9	9	NUM
dem-1080	222	370	-710	-710	NUM
dem-1080	222	371	-	-	SYM
dem-1080	222	372	5	5	NUM
dem-1080	222	373	(	(	PUNCT
dem-1080	222	374	910	910	NUM
dem-1080	222	375	-	-	SYM
dem-1080	222	376	5	5	NUM
dem-1080	222	377	)	)	PUNCT
dem-1080	222	378	0.81	0.81	NUM
dem-1080	222	379	(	(	PUNCT
dem-1080	222	380	0.01	0.01	NUM
dem-1080	222	381	)	)	PUNCT
dem-1080	222	382	0.009	0.009	NUM
dem-1080	222	383	(	(	PUNCT
dem-1080	222	384	0.005	0.005	NUM
dem-1080	222	385	)	)	PUNCT
dem-1080	222	386	-0.02	-0.02	NUM
dem-1080	222	387	(	(	PUNCT
dem-1080	222	388	0.02	0.02	NUM
dem-1080	222	389	)	)	PUNCT
dem-1080	222	390	(	(	PUNCT
dem-1080	222	391	2,1	2,1	NUM
dem-1080	222	392	)	)	PUNCT
dem-1080	222	393	810	810	NUM
dem-1080	222	394	-	-	SYM
dem-1080	222	395	8	8	NUM
dem-1080	222	396	(	(	PUNCT
dem-1080	222	397	410	410	NUM
dem-1080	222	398	-	-	SYM
dem-1080	222	399	8)	8)	NUM
dem-1080	222	400	0.13	0.13	NUM
dem-1080	222	401	(	(	PUNCT
dem-1080	222	402	0.03	0.03	NUM
dem-1080	222	403	)	)	PUNCT
dem-1080	222	404	0.32	0.32	NUM
dem-1080	222	405	(	(	PUNCT
dem-1080	222	406	0.18	0.18	NUM
dem-1080	222	407	)	)	PUNCT
dem-1080	222	408	0.54	0.54	NUM
dem-1080	222	409	(	(	PUNCT
dem-1080	222	410	0.18	0.18	NUM
dem-1080	222	411	)	)	PUNCT
dem-1080	222	412	10	10	NUM
dem-1080	222	413	-210	-210	NUM
dem-1080	222	414	-	-	PUNCT
dem-1080	222	415	4	4	NUM
dem-1080	222	416	(	(	PUNCT
dem-1080	222	417	110	110	NUM
dem-1080	222	418	-	-	SYM
dem-1080	222	419	4	4	NUM
dem-1080	222	420	)	)	PUNCT
dem-1080	222	421	0.14	0.14	NUM
dem-1080	222	422	(	(	PUNCT
dem-1080	222	423	0.06	0.06	NUM
dem-1080	222	424	)	)	PUNCT
dem-1080	222	425	0.65	0.65	NUM
dem-1080	222	426	(	(	PUNCT
dem-1080	222	427	0.05	0.05	NUM
dem-1080	222	428	)	)	PUNCT
dem-1080	222	429	0.02	0.02	NUM
dem-1080	222	430	(	(	PUNCT
dem-1080	222	431	0.04	0.04	NUM
dem-1080	222	432	)	)	PUNCT
dem-1080	222	433	(	(	PUNCT
dem-1080	222	434	1,2	1,2	NUM
dem-1080	222	435	)	)	PUNCT
dem-1080	222	436	910	910	NUM
dem-1080	222	437	-	-	SYM
dem-1080	222	438	8	8	NUM
dem-1080	222	439	(	(	PUNCT
dem-1080	222	440	510	510	NUM
dem-1080	222	441	-	-	SYM
dem-1080	222	442	8)	8)	NUM
dem-1080	222	443	0.39	0.39	NUM
dem-1080	222	444	(	(	PUNCT
dem-1080	222	445	0.07	0.07	NUM
dem-1080	222	446	)	)	PUNCT
dem-1080	222	447	-0.29	-0.29	NOUN
dem-1080	222	448	(	(	PUNCT
dem-1080	222	449	0.08	0.08	NUM
dem-1080	222	450	)	)	PUNCT
dem-1080	222	451	0.91	0.91	NUM
dem-1080	222	452	(	(	PUNCT
dem-1080	222	453	0.02	0.02	NUM
dem-1080	222	454	)	)	PUNCT
dem-1080	222	455	11	11	NUM
dem-1080	222	456	-210	-210	NUM
dem-1080	222	457	-	-	PUNCT
dem-1080	222	458	4	4	NUM
dem-1080	222	459	(	(	PUNCT
dem-1080	222	460	810	810	NUM
dem-1080	222	461	-	-	SYM
dem-1080	222	462	5	5	NUM
dem-1080	222	463	)	)	PUNCT
dem-1080	222	464	0.88	0.88	NUM
dem-1080	222	465	(	(	PUNCT
dem-1080	222	466	0.01	0.01	NUM
dem-1080	222	467	)	)	PUNCT
dem-1080	222	468	0.02	0.02	NUM
dem-1080	222	469	(	(	PUNCT
dem-1080	222	470	0.005	0.005	NUM
dem-1080	222	471	)	)	PUNCT
dem-1080	222	472	-0.02	-0.02	NUM
dem-1080	222	473	(	(	PUNCT
dem-1080	222	474	0.02	0.02	NUM
dem-1080	222	475	)	)	PUNCT
dem-1080	222	476	(	(	PUNCT
dem-1080	222	477	2,1	2,1	NUM
dem-1080	222	478	)	)	PUNCT
dem-1080	222	479	910	910	NUM
dem-1080	222	480	-	-	SYM
dem-1080	222	481	8	8	NUM
dem-1080	222	482	(	(	PUNCT
dem-1080	222	483	410	410	NUM
dem-1080	222	484	-	-	SYM
dem-1080	222	485	8)	8)	NUM
dem-1080	222	486	0.13	0.13	NUM
dem-1080	222	487	(	(	PUNCT
dem-1080	222	488	0.02	0.02	NUM
dem-1080	222	489	)	)	PUNCT
dem-1080	222	490	0.39	0.39	NUM
dem-1080	222	491	(	(	PUNCT
dem-1080	222	492	0.10	0.10	NUM
dem-1080	222	493	)	)	PUNCT
dem-1080	222	494	0.46	0.46	NUM
dem-1080	222	495	(	(	PUNCT
dem-1080	222	496	0.09	0.09	NUM
dem-1080	222	497	)	)	PUNCT
dem-1080	222	498	12	12	NUM
dem-1080	223	1	510	510	NUM
dem-1080	223	2	-	-	SYM
dem-1080	223	3	5	5	NUM
dem-1080	223	4	(	(	PUNCT
dem-1080	223	5	110	110	NUM
dem-1080	223	6	-	-	SYM
dem-1080	223	7	4	4	NUM
dem-1080	223	8	)	)	PUNCT
dem-1080	223	9	0.71	0.71	NUM
dem-1080	223	10	(	(	PUNCT
dem-1080	223	11	0.03	0.03	NUM
dem-1080	223	12	)	)	PUNCT
dem-1080	223	13	0.06	0.06	NUM
dem-1080	223	14	(	(	PUNCT
dem-1080	223	15	0.01	0.01	NUM
dem-1080	223	16	)	)	PUNCT
dem-1080	223	17	-0.03	-0.03	NOUN
dem-1080	223	18	(	(	PUNCT
dem-1080	223	19	0.03	0.03	NUM
dem-1080	223	20	)	)	PUNCT
dem-1080	223	21	(	(	PUNCT
dem-1080	223	22	1,2	1,2	NUM
dem-1080	223	23	)	)	PUNCT
dem-1080	223	24	610	610	NUM
dem-1080	223	25	-	-	SYM
dem-1080	223	26	8	8	NUM
dem-1080	223	27	(	(	PUNCT
dem-1080	223	28	310	310	NUM
dem-1080	223	29	-	-	PROPN
dem-1080	223	30	8)	8)	NUM
dem-1080	223	31	0.27	0.27	NUM
dem-1080	223	32	(	(	PUNCT
dem-1080	223	33	0.03	0.03	NUM
dem-1080	223	34	)	)	PUNCT
dem-1080	223	35	-0.18	-0.18	NUM
dem-1080	223	36	(	(	PUNCT
dem-1080	223	37	0.03	0.03	NUM
dem-1080	223	38	)	)	PUNCT
dem-1080	223	39	0.91	0.91	NUM
dem-1080	223	40	(	(	PUNCT
dem-1080	223	41	0.01	0.01	NUM
dem-1080	223	42	)	)	PUNCT
dem-1080	223	43	13	13	NUM
dem-1080	223	44	-210	-210	NUM
dem-1080	223	45	-	-	SYM
dem-1080	223	46	5	5	NUM
dem-1080	223	47	(	(	PUNCT
dem-1080	223	48	810	810	NUM
dem-1080	223	49	-	-	SYM
dem-1080	223	50	5	5	NUM
dem-1080	223	51	)	)	PUNCT
dem-1080	223	52	0.83	0.83	NUM
dem-1080	223	53	(	(	PUNCT
dem-1080	223	54	0.008	0.008	NUM
dem-1080	223	55	)	)	PUNCT
dem-1080	223	56	0.01	0.01	NUM
dem-1080	223	57	(	(	PUNCT
dem-1080	223	58	0.004	0.004	NUM
dem-1080	223	59	)	)	PUNCT
dem-1080	223	60	-0.02	-0.02	NUM
dem-1080	223	61	(	(	PUNCT
dem-1080	223	62	0.01	0.01	NUM
dem-1080	223	63	)	)	PUNCT
dem-1080	223	64	(	(	PUNCT
dem-1080	223	65	1,1	1,1	NUM
dem-1080	223	66	)	)	PUNCT
dem-1080	223	67	610	610	NUM
dem-1080	223	68	-	-	SYM
dem-1080	223	69	8	8	NUM
dem-1080	223	70	(	(	PUNCT
dem-1080	223	71	310	310	NUM
dem-1080	223	72	-	-	PROPN
dem-1080	223	73	8)	8)	NUM
dem-1080	223	74	0.10	0.10	NUM
dem-1080	223	75	(	(	PUNCT
dem-1080	223	76	0.02	0.02	NUM
dem-1080	223	77	)	)	PUNCT
dem-1080	223	78	0.90	0.90	NUM
dem-1080	223	79	(	(	PUNCT
dem-1080	223	80	0.02	0.02	NUM
dem-1080	223	81	)	)	PUNCT
dem-1080	223	82	14	14	NUM
dem-1080	223	83	-110	-110	NUM
dem-1080	223	84	-	-	SYM
dem-1080	223	85	4	4	NUM
dem-1080	223	86	(	(	PUNCT
dem-1080	223	87	210	210	NUM
dem-1080	223	88	-	-	SYM
dem-1080	223	89	4	4	NUM
dem-1080	223	90	)	)	PUNCT
dem-1080	223	91	0.44	0.44	NUM
dem-1080	223	92	(	(	PUNCT
dem-1080	223	93	0.05	0.05	NUM
dem-1080	223	94	)	)	PUNCT
dem-1080	223	95	0.41	0.41	NUM
dem-1080	223	96	(	(	PUNCT
dem-1080	223	97	0.05	0.05	NUM
dem-1080	223	98	)	)	PUNCT
dem-1080	223	99	0.04	0.04	NUM
dem-1080	223	100	(	(	PUNCT
dem-1080	223	101	0.05	0.05	NUM
dem-1080	223	102	)	)	PUNCT
dem-1080	223	103	(	(	PUNCT
dem-1080	223	104	1,2	1,2	NUM
dem-1080	223	105	)	)	PUNCT
dem-1080	223	106	910	910	NUM
dem-1080	223	107	-	-	SYM
dem-1080	223	108	7	7	NUM
dem-1080	223	109	(	(	PUNCT
dem-1080	223	110	410	410	NUM
dem-1080	223	111	-	-	SYM
dem-1080	223	112	7	7	NUM
dem-1080	223	113	)	)	PUNCT
dem-1080	223	114	0.24	0.24	NUM
dem-1080	223	115	(	(	PUNCT
dem-1080	223	116	0.04	0.04	NUM
dem-1080	223	117	)	)	PUNCT
dem-1080	223	118	-0.16	-0.16	NUM
dem-1080	223	119	(	(	PUNCT
dem-1080	223	120	0.04	0.04	NUM
dem-1080	223	121	)	)	PUNCT
dem-1080	223	122	0.91	0.91	NUM
dem-1080	223	123	(	(	PUNCT
dem-1080	223	124	0.02	0.02	NUM
dem-1080	223	125	)	)	PUNCT
dem-1080	223	126	15	15	NUM
dem-1080	223	127	-210	-210	NUM
dem-1080	223	128	-	-	PUNCT
dem-1080	223	129	4	4	NUM
dem-1080	223	130	(	(	PUNCT
dem-1080	223	131	210	210	NUM
dem-1080	223	132	-	-	SYM
dem-1080	223	133	4	4	NUM
dem-1080	223	134	)	)	PUNCT
dem-1080	223	135	0.43	0.43	NUM
dem-1080	223	136	(	(	PUNCT
dem-1080	223	137	0.04	0.04	NUM
dem-1080	223	138	)	)	PUNCT
dem-1080	223	139	0.53	0.53	NUM
dem-1080	223	140	(	(	PUNCT
dem-1080	223	141	0.03	0.03	NUM
dem-1080	223	142	)	)	PUNCT
dem-1080	223	143	0.07	0.07	NUM
dem-1080	223	144	(	(	PUNCT
dem-1080	223	145	0.05	0.05	NUM
dem-1080	223	146	)	)	PUNCT
dem-1080	223	147	(	(	PUNCT
dem-1080	223	148	1,2	1,2	NUM
dem-1080	223	149	)	)	PUNCT
dem-1080	223	150	910	910	NUM
dem-1080	223	151	-	-	SYM
dem-1080	223	152	7	7	NUM
dem-1080	223	153	(	(	PUNCT
dem-1080	223	154	510	510	NUM
dem-1080	223	155	-	-	SYM
dem-1080	223	156	7	7	NUM
dem-1080	223	157	)	)	PUNCT
dem-1080	223	158	0.29	0.29	NUM
dem-1080	223	159	(	(	PUNCT
dem-1080	223	160	0.03	0.03	NUM
dem-1080	223	161	)	)	PUNCT
dem-1080	223	162	-0.20	-0.20	NOUN
dem-1080	223	163	(	(	PUNCT
dem-1080	223	164	0.04	0.04	NUM
dem-1080	223	165	)	)	PUNCT
dem-1080	223	166	0.90	0.90	NUM
dem-1080	223	167	(	(	PUNCT
dem-1080	223	168	0.03	0.03	NUM
dem-1080	223	169	)	)	PUNCT
dem-1080	223	170	note	note	NOUN
dem-1080	223	171	:	:	PUNCT
dem-1080	223	172	the	the	DET
dem-1080	223	173	table	table	NOUN
dem-1080	223	174	is	be	AUX
dem-1080	223	175	based	base	VERB
dem-1080	223	176	on	on	ADP
dem-1080	223	177	the	the	DET
dem-1080	223	178	entire	entire	ADJ
dem-1080	223	179	sample	sample	NOUN
dem-1080	223	180	p1	p1	NOUN
dem-1080	223	181	;	;	PUNCT
dem-1080	223	182	h	h	NOUN
dem-1080	223	183	-	-	PUNCT
dem-1080	223	184	m	m	PROPN
dem-1080	223	185	(	(	PUNCT
dem-1080	223	186	3	3	NUM
dem-1080	223	187	)	)	PUNCT
dem-1080	223	188	is	be	AUX
dem-1080	223	189	the	the	DET
dem-1080	223	190	classical	classical	ADJ
dem-1080	223	191	henriksson	henriksson	ADJ
dem-1080	223	192	-	-	PUNCT
dem-1080	223	193	merton	merton	NOUN
dem-1080	223	194	model	model	NOUN
dem-1080	223	195	with	with	ADP
dem-1080	223	196	the	the	DET
dem-1080	223	197	lagged	lag	VERB
dem-1080	223	198	excess	excess	ADJ
dem-1080	223	199	return	return	NOUN
dem-1080	223	200	on	on	ADP
dem-1080	223	201	market	market	NOUN
dem-1080	223	202	portfolio	portfolio	NOUN
dem-1080	223	203	m	m	VERB
dem-1080	223	204	as	as	ADP
dem-1080	223	205	additional	additional	ADJ
dem-1080	223	206	factor	factor	NOUN
dem-1080	223	207	;	;	PUNCT
dem-1080	223	208	the	the	DET
dem-1080	223	209	heteroskedastic	heteroskedastic	ADJ
dem-1080	223	210	consistent	consistent	ADJ
dem-1080	223	211	standard	standard	ADJ
dem-1080	223	212	errors	error	NOUN
dem-1080	223	213	are	be	AUX
dem-1080	223	214	in	in	ADP
dem-1080	223	215	parentheses	parenthesis	NOUN
dem-1080	223	216	below	below	ADP
dem-1080	223	217	the	the	DET
dem-1080	223	218	coefficient	coefficient	NOUN
dem-1080	223	219	estimates	estimate	NOUN
dem-1080	223	220	;	;	PUNCT
dem-1080	223	221	the	the	DET
dem-1080	223	222	variance	variance	NOUN
dem-1080	223	223	-	-	PUNCT
dem-1080	223	224	covariance	covariance	NOUN
dem-1080	223	225	matrix	matrix	NOUN
dem-1080	223	226	of	of	ADP
dem-1080	223	227	the	the	DET
dem-1080	223	228	estimated	estimate	VERB
dem-1080	223	229	parameters	parameter	NOUN
dem-1080	223	230	is	be	AUX
dem-1080	223	231	based	base	VERB
dem-1080	223	232	on	on	ADP
dem-1080	223	233	the	the	DET
dem-1080	223	234	qml	qml	PROPN
dem-1080	223	235	algorithm	algorithm	NOUN
dem-1080	223	236	;	;	PUNCT
dem-1080	223	237	the	the	DET
dem-1080	223	238	distribution	distribution	NOUN
dem-1080	223	239	for	for	ADP
dem-1080	223	240	the	the	DET
dem-1080	223	241	innovations	innovation	NOUN
dem-1080	223	242	is	be	AUX
dem-1080	223	243	supposed	suppose	VERB
dem-1080	223	244	to	to	PART
dem-1080	223	245	be	be	AUX
dem-1080	223	246	normal	normal	ADJ
dem-1080	223	247	.	.	PUNCT
dem-1080	224	1	conclusions	conclusion	NOUN
dem-1080	224	2	our	our	PRON
dem-1080	224	3	research	research	NOUN
dem-1080	224	4	provides	provide	VERB
dem-1080	224	5	evidence	evidence	NOUN
dem-1080	224	6	of	of	ADP
dem-1080	224	7	pronounced	pronounce	VERB
dem-1080	224	8	arch	arch	ADJ
dem-1080	224	9	effects	effect	NOUN
dem-1080	224	10	in	in	ADP
dem-1080	224	11	the	the	DET
dem-1080	224	12	classical	classical	ADJ
dem-1080	224	13	market	market	NOUN
dem-1080	224	14	-	-	PUNCT
dem-1080	224	15	timing	timing	NOUN
dem-1080	224	16	models	model	NOUN
dem-1080	224	17	of	of	ADP
dem-1080	224	18	polish	polish	ADJ
dem-1080	224	19	open	open	ADJ
dem-1080	224	20	-	-	PUNCT
dem-1080	224	21	end	end	NOUN
dem-1080	224	22	mutual	mutual	ADJ
dem-1080	224	23	funds	fund	NOUN
dem-1080	224	24	.	.	PUNCT
dem-1080	225	1	we	we	PRON
dem-1080	225	2	detect	detect	VERB
dem-1080	225	3	for	for	ADP
dem-1080	225	4	the	the	DET
dem-1080	225	5	arch	arch	ADJ
dem-1080	225	6	effects	effect	NOUN
dem-1080	225	7	in	in	ADP
dem-1080	225	8	the	the	DET
dem-1080	225	9	entire	entire	ADJ
dem-1080	225	10	period	period	NOUN
dem-1080	225	11	from	from	ADP
dem-1080	225	12	jan	jan	PROPN
dem-1080	225	13	2	2	NUM
dem-1080	225	14	,	,	PUNCT
dem-1080	225	15	2003	2003	NUM
dem-1080	225	16	to	to	ADP
dem-1080	225	17	june	june	PROPN
dem-1080	225	18	30	30	NUM
dem-1080	225	19	,	,	PUNCT
dem-1080	225	20	2011	2011	NUM
dem-1080	225	21	,	,	PUNCT
dem-1080	225	22	as	as	ADV
dem-1080	225	23	well	well	ADV
dem-1080	225	24	as	as	ADP
dem-1080	225	25	for	for	ADP
dem-1080	225	26	the	the	DET
dem-1080	225	27	7	7	NUM
dem-1080	225	28	subperiods	subperiod	NOUN
dem-1080	225	29	.	.	PUNCT
dem-1080	226	1	for	for	ADP
dem-1080	226	2	comparison	comparison	NOUN
dem-1080	226	3	,	,	PUNCT
dem-1080	226	4	we	we	PRON
dem-1080	226	5	estimate	estimate	VERB
dem-1080	226	6	the	the	DET
dem-1080	226	7	market	market	NOUN
dem-1080	226	8	-	-	PUNCT
dem-1080	226	9	timing	timing	NOUN
dem-1080	226	10	models	model	NOUN
dem-1080	226	11	using	use	VERB
dem-1080	226	12	two	two	NUM
dem-1080	226	13	methods	method	NOUN
dem-1080	226	14	.	.	PUNCT
dem-1080	227	1	results	result	NOUN
dem-1080	227	2	on	on	ADP
dem-1080	227	3	both	both	CCONJ
dem-1080	227	4	the	the	DET
dem-1080	227	5	hac	hac	NOUN
dem-1080	227	6	and	and	CCONJ
dem-1080	227	7	the	the	DET
dem-1080	227	8	garch	garch	NOUN
dem-1080	227	9	estimates	estimate	NOUN
dem-1080	227	10	are	be	AUX
dem-1080	227	11	qualitatively	qualitatively	ADV
dem-1080	227	12	similar	similar	ADJ
dem-1080	227	13	,	,	PUNCT
dem-1080	227	14	and	and	CCONJ
dem-1080	227	15	even	even	ADV
dem-1080	227	16	better	well	ADV
dem-1080	227	17	in	in	ADP
dem-1080	227	18	the	the	DET
dem-1080	227	19	case	case	NOUN
dem-1080	227	20	of	of	ADP
dem-1080	227	21	the	the	DET
dem-1080	227	22	simpler	simple	ADJ
dem-1080	227	23	hac	hac	NOUN
dem-1080	227	24	method	method	NOUN
dem-1080	227	25	.	.	PUNCT
dem-1080	228	1	for	for	ADP
dem-1080	228	2	this	this	DET
dem-1080	228	3	reason	reason	NOUN
dem-1080	228	4	,	,	PUNCT
dem-1080	228	5	it	it	PRON
dem-1080	228	6	is	be	AUX
dem-1080	228	7	not	not	PART
dem-1080	228	8	necessary	necessary	ADJ
dem-1080	228	9	to	to	PART
dem-1080	228	10	estimate	estimate	VERB
dem-1080	228	11	the	the	DET
dem-1080	228	12	garch	garch	NOUN
dem-1080	228	13	versions	version	NOUN
dem-1080	228	14	of	of	ADP
dem-1080	228	15	marketarch	marketarch	NOUN
dem-1080	228	16	effect	effect	NOUN
dem-1080	228	17	in	in	ADP
dem-1080	228	18	classical	classical	ADJ
dem-1080	228	19	market	market	NOUN
dem-1080	228	20	-	-	PUNCT
dem-1080	228	21	timing	timing	NOUN
dem-1080	228	22	models	model	NOUN
dem-1080	228	23	with	with	ADP
dem-1080	228	24	lagged	lag	VERB
dem-1080	228	25	market	market	NOUN
dem-1080	228	26	variable	variable	NOUN
dem-1080	228	27	…	…	PUNCT
dem-1080	228	28	199	199	NUM
dem-1080	228	29	timing	timing	NOUN
dem-1080	228	30	models	model	NOUN
dem-1080	228	31	in	in	ADP
dem-1080	228	32	the	the	DET
dem-1080	228	33	case	case	NOUN
dem-1080	228	34	of	of	ADP
dem-1080	228	35	polish	polish	ADJ
dem-1080	228	36	mutual	mutual	ADJ
dem-1080	228	37	funds	fund	NOUN
dem-1080	228	38	,	,	PUNCT
dem-1080	228	39	even	even	ADV
dem-1080	228	40	despite	despite	SCONJ
dem-1080	228	41	the	the	DET
dem-1080	228	42	strong	strong	ADJ
dem-1080	228	43	arch	arch	ADJ
dem-1080	228	44	effects	effect	NOUN
dem-1080	228	45	that	that	PRON
dem-1080	228	46	exist	exist	VERB
dem-1080	228	47	in	in	ADP
dem-1080	228	48	these	these	DET
dem-1080	228	49	models	model	NOUN
dem-1080	228	50	.	.	PUNCT
dem-1080	229	1	as	as	ADP
dem-1080	229	2	for	for	ADP
dem-1080	229	3	the	the	DET
dem-1080	229	4	interpretation	interpretation	NOUN
dem-1080	229	5	of	of	ADP
dem-1080	229	6	the	the	DET
dem-1080	229	7	estimated	estimate	VERB
dem-1080	229	8	coefficients	coefficient	NOUN
dem-1080	229	9	,	,	PUNCT
dem-1080	229	10	our	our	PRON
dem-1080	229	11	empirical	empirical	ADJ
dem-1080	229	12	results	result	NOUN
dem-1080	229	13	can	can	AUX
dem-1080	229	14	be	be	AUX
dem-1080	229	15	summarized	summarize	VERB
dem-1080	229	16	as	as	SCONJ
dem-1080	229	17	follows	follow	VERB
dem-1080	229	18	:	:	PUNCT
dem-1080	229	19	1	1	X
dem-1080	229	20	.	.	X
dem-1080	229	21	there	there	PRON
dem-1080	229	22	is	be	VERB
dem-1080	229	23	no	no	DET
dem-1080	229	24	evidence	evidence	NOUN
dem-1080	229	25	that	that	SCONJ
dem-1080	229	26	equity	equity	NOUN
dem-1080	229	27	fund	fund	NOUN
dem-1080	229	28	managers	manager	NOUN
dem-1080	229	29	are	be	AUX
dem-1080	229	30	successful	successful	ADJ
dem-1080	229	31	in	in	ADP
dem-1080	229	32	selectivity	selectivity	NOUN
dem-1080	229	33	(	(	PUNCT
dem-1080	229	34	ˆp	ˆp	NOUN
dem-1080	229	35	)	)	PUNCT
dem-1080	229	36	.	.	PUNCT
dem-1080	230	1	2	2	X
dem-1080	230	2	.	.	X
dem-1080	230	3	the	the	DET
dem-1080	230	4	levels	level	NOUN
dem-1080	230	5	of	of	ADP
dem-1080	230	6	systematic	systematic	ADJ
dem-1080	230	7	risks	risk	NOUN
dem-1080	230	8	are	be	AUX
dem-1080	230	9	significantly	significantly	ADV
dem-1080	230	10	positive	positive	ADJ
dem-1080	230	11	(	(	PUNCT
dem-1080	230	12	1̂p	1̂p	NUM
dem-1080	230	13	)	)	PUNCT
dem-1080	230	14	.	.	PUNCT
dem-1080	231	1	3	3	X
dem-1080	231	2	.	.	X
dem-1080	232	1	the	the	DET
dem-1080	232	2	regressions	regression	NOUN
dem-1080	232	3	including	include	VERB
dem-1080	232	4	the	the	DET
dem-1080	232	5	lagged	lag	VERB
dem-1080	232	6	values	value	NOUN
dem-1080	232	7	of	of	ADP
dem-1080	232	8	the	the	DET
dem-1080	232	9	market	market	NOUN
dem-1080	232	10	factor	factor	NOUN
dem-1080	232	11	as	as	ADP
dem-1080	232	12	an	an	DET
dem-1080	232	13	additional	additional	ADJ
dem-1080	232	14	explanatory	explanatory	ADJ
dem-1080	232	15	variable	variable	NOUN
dem-1080	232	16	are	be	AUX
dem-1080	232	17	well	well	ADV
dem-1080	232	18	-	-	PUNCT
dem-1080	232	19	founded	found	VERB
dem-1080	232	20	(	(	PUNCT
dem-1080	232	21	2p	2p	NUM
dem-1080	232	22	)	)	PUNCT
dem-1080	232	23	.	.	PUNCT
dem-1080	233	1	4	4	X
dem-1080	233	2	.	.	X
dem-1080	234	1	the	the	DET
dem-1080	234	2	empirical	empirical	ADJ
dem-1080	234	3	results	result	NOUN
dem-1080	234	4	show	show	VERB
dem-1080	234	5	no	no	DET
dem-1080	234	6	statistical	statistical	ADJ
dem-1080	234	7	evidence	evidence	NOUN
dem-1080	234	8	that	that	PRON
dem-1080	234	9	polish	polish	PROPN
dem-1080	234	10	equity	equity	NOUN
dem-1080	234	11	fund	fund	NOUN
dem-1080	234	12	managers	manager	NOUN
dem-1080	234	13	have	have	AUX
dem-1080	234	14	outguessed	outguess	VERB
dem-1080	234	15	the	the	DET
dem-1080	234	16	market	market	NOUN
dem-1080	234	17	in	in	ADP
dem-1080	234	18	the	the	DET
dem-1080	234	19	entire	entire	ADJ
dem-1080	234	20	period	period	NOUN
dem-1080	234	21	jan	jan	PROPN
dem-1080	234	22	2	2	NUM
dem-1080	234	23	,	,	PUNCT
dem-1080	234	24	2003	2003	NUM
dem-1080	234	25	–	–	PUNCT
dem-1080	234	26	june	june	PROPN
dem-1080	234	27	30	30	NUM
dem-1080	234	28	,	,	PUNCT
dem-1080	234	29	2011	2011	NUM
dem-1080	234	30	(	(	PUNCT
dem-1080	234	31	ˆp	ˆp	PROPN
dem-1080	234	32	)	)	PUNCT
dem-1080	234	33	.	.	PUNCT
dem-1080	235	1	probably	probably	ADV
dem-1080	235	2	the	the	DET
dem-1080	235	3	point	point	NOUN
dem-1080	235	4	is	be	AUX
dem-1080	235	5	that	that	PRON
dem-1080	235	6	mutual	mutual	ADJ
dem-1080	235	7	fund	fund	NOUN
dem-1080	235	8	performance	performance	NOUN
dem-1080	235	9	is	be	AUX
dem-1080	235	10	affected	affect	VERB
dem-1080	235	11	by	by	ADP
dem-1080	235	12	its	its	PRON
dem-1080	235	13	operating	operating	NOUN
dem-1080	235	14	style	style	NOUN
dem-1080	235	15	and	and	CCONJ
dem-1080	235	16	purpose	purpose	NOUN
dem-1080	235	17	.	.	PUNCT
dem-1080	236	1	if	if	SCONJ
dem-1080	236	2	the	the	DET
dem-1080	236	3	purpose	purpose	NOUN
dem-1080	236	4	of	of	ADP
dem-1080	236	5	the	the	DET
dem-1080	236	6	fund	fund	NOUN
dem-1080	236	7	is	be	AUX
dem-1080	236	8	to	to	PART
dem-1080	236	9	follow	follow	VERB
dem-1080	236	10	the	the	DET
dem-1080	236	11	market	market	NOUN
dem-1080	236	12	,	,	PUNCT
dem-1080	236	13	its	its	PRON
dem-1080	236	14	performance	performance	NOUN
dem-1080	236	15	will	will	AUX
dem-1080	236	16	be	be	AUX
dem-1080	236	17	close	close	ADJ
dem-1080	236	18	to	to	ADP
dem-1080	236	19	the	the	DET
dem-1080	236	20	market	market	NOUN
dem-1080	236	21	and	and	CCONJ
dem-1080	236	22	should	should	AUX
dem-1080	236	23	show	show	VERB
dem-1080	236	24	no	no	DET
dem-1080	236	25	superior	superior	ADJ
dem-1080	236	26	performance	performance	NOUN
dem-1080	236	27	.	.	PUNCT
dem-1080	237	1	therefore	therefore	ADV
dem-1080	237	2	,	,	PUNCT
dem-1080	237	3	a	a	DET
dem-1080	237	4	possible	possible	ADJ
dem-1080	237	5	direction	direction	NOUN
dem-1080	237	6	for	for	ADP
dem-1080	237	7	further	further	ADJ
dem-1080	237	8	investigation	investigation	NOUN
dem-1080	237	9	would	would	AUX
dem-1080	237	10	be	be	AUX
dem-1080	237	11	the	the	DET
dem-1080	237	12	performance	performance	NOUN
dem-1080	237	13	evaluation	evaluation	NOUN
dem-1080	237	14	including	include	VERB
dem-1080	237	15	the	the	DET
dem-1080	237	16	operating	operate	VERB
dem-1080	237	17	style	style	NOUN
dem-1080	237	18	and	and	CCONJ
dem-1080	237	19	purpose	purpose	NOUN
dem-1080	237	20	of	of	ADP
dem-1080	237	21	the	the	DET
dem-1080	237	22	funds	fund	NOUN
dem-1080	237	23	as	as	ADP
dem-1080	237	24	another	another	DET
dem-1080	237	25	factor	factor	NOUN
dem-1080	237	26	(	(	PUNCT
dem-1080	237	27	wermers	wermer	NOUN
dem-1080	237	28	,	,	PUNCT
dem-1080	237	29	2000	2000	NUM
dem-1080	237	30	)	)	PUNCT
dem-1080	237	31	.	.	PUNCT
dem-1080	238	1	references	reference	NOUN
dem-1080	238	2	adkins	adkins	PROPN
dem-1080	238	3	,	,	PUNCT
dem-1080	238	4	l.c	l.c	PROPN
dem-1080	238	5	.	.	PROPN
dem-1080	238	6	(	(	PUNCT
dem-1080	238	7	2010	2010	NUM
dem-1080	238	8	)	)	PUNCT
dem-1080	238	9	,	,	PUNCT
dem-1080	238	10	using	use	VERB
dem-1080	238	11	gretl	gretl	NOUN
dem-1080	238	12	for	for	ADP
dem-1080	238	13	principles	principle	NOUN
dem-1080	238	14	of	of	ADP
dem-1080	238	15	econometrics	econometric	NOUN
dem-1080	238	16	,	,	PUNCT
dem-1080	238	17	3rd	3rd	ADJ
dem-1080	238	18	edition	edition	NOUN
dem-1080	238	19	,	,	PUNCT
dem-1080	238	20	version	version	NOUN
dem-1080	238	21	1.313	1.313	NUM
dem-1080	238	22	.	.	PUNCT
dem-1080	239	1	bollen	bollen	PROPN
dem-1080	239	2	,	,	PUNCT
dem-1080	239	3	n.p.b	n.p.b	ADJ
dem-1080	239	4	.	.	PUNCT
dem-1080	239	5	,	,	PUNCT
dem-1080	239	6	busse	busse	PROPN
dem-1080	239	7	,	,	PUNCT
dem-1080	239	8	j.a	j.a	PROPN
dem-1080	239	9	.	.	PROPN
dem-1080	239	10	(	(	PUNCT
dem-1080	239	11	2001	2001	NUM
dem-1080	239	12	)	)	PUNCT
dem-1080	239	13	,	,	PUNCT
dem-1080	239	14	on	on	ADP
dem-1080	239	15	the	the	DET
dem-1080	239	16	timing	timing	NOUN
dem-1080	239	17	ability	ability	NOUN
dem-1080	239	18	of	of	ADP
dem-1080	239	19	mutual	mutual	ADJ
dem-1080	239	20	fund	fund	NOUN
dem-1080	239	21	managers	manager	NOUN
dem-1080	239	22	,	,	PUNCT
dem-1080	239	23	the	the	DET
dem-1080	239	24	journal	journal	NOUN
dem-1080	239	25	of	of	ADP
dem-1080	239	26	finance	finance	NOUN
dem-1080	239	27	,	,	PUNCT
dem-1080	239	28	56(3	56(3	NOUN
dem-1080	239	29	)	)	PUNCT
dem-1080	239	30	,	,	PUNCT
dem-1080	239	31	1075–1094	1075–1094	NUM
dem-1080	239	32	.	.	PUNCT
dem-1080	239	33	bollerslev	bollerslev	PROPN
dem-1080	239	34	,	,	PUNCT
dem-1080	239	35	t.	t.	PROPN
dem-1080	239	36	(	(	PUNCT
dem-1080	239	37	1986	1986	NUM
dem-1080	239	38	)	)	PUNCT
dem-1080	239	39	,	,	PUNCT
dem-1080	239	40	generalized	generalize	VERB
dem-1080	239	41	autoregressive	autoregressive	ADJ
dem-1080	239	42	conditional	conditional	ADJ
dem-1080	239	43	heteroskedasticity	heteroskedasticity	NOUN
dem-1080	239	44	,	,	PUNCT
dem-1080	239	45	journal	journal	NOUN
dem-1080	239	46	of	of	ADP
dem-1080	239	47	econometrics	econometric	NOUN
dem-1080	239	48	,	,	PUNCT
dem-1080	239	49	31	31	NUM
dem-1080	239	50	,	,	PUNCT
dem-1080	239	51	307–327	307–327	NUM
dem-1080	239	52	.	.	PUNCT
dem-1080	239	53	bollerslev	bollerslev	ADJ
dem-1080	239	54	,	,	PUNCT
dem-1080	239	55	t.	t.	PROPN
dem-1080	239	56	,	,	PUNCT
dem-1080	239	57	wooldridge	wooldridge	PROPN
dem-1080	239	58	,	,	PUNCT
dem-1080	239	59	j.m	j.m	PROPN
dem-1080	239	60	.	.	PROPN
dem-1080	239	61	(	(	PUNCT
dem-1080	239	62	1992	1992	NUM
dem-1080	239	63	)	)	PUNCT
dem-1080	239	64	,	,	PUNCT
dem-1080	239	65	quasi	quasi	ADJ
dem-1080	239	66	-	-	ADJ
dem-1080	239	67	maximum	maximum	ADJ
dem-1080	239	68	likelihood	likelihood	NOUN
dem-1080	239	69	estimation	estimation	NOUN
dem-1080	239	70	and	and	CCONJ
dem-1080	239	71	inference	inference	NOUN
dem-1080	239	72	in	in	ADP
dem-1080	239	73	dynamic	dynamic	ADJ
dem-1080	239	74	models	model	NOUN
dem-1080	239	75	with	with	ADP
dem-1080	239	76	time	time	NOUN
dem-1080	239	77	-	-	PUNCT
dem-1080	239	78	varying	vary	VERB
dem-1080	239	79	covariances	covariance	NOUN
dem-1080	239	80	,	,	PUNCT
dem-1080	239	81	econometric	econometric	ADJ
dem-1080	239	82	reviews	review	NOUN
dem-1080	239	83	,	,	PUNCT
dem-1080	239	84	11	11	NUM
dem-1080	239	85	,	,	PUNCT
dem-1080	239	86	143–179	143–179	NUM
dem-1080	239	87	.	.	PUNCT
dem-1080	239	88	brzeszczyński	brzeszczyński	PROPN
dem-1080	239	89	,	,	PUNCT
dem-1080	239	90	j.	j.	PROPN
dem-1080	239	91	,	,	PUNCT
dem-1080	239	92	gajdka	gajdka	PROPN
dem-1080	239	93	,	,	PUNCT
dem-1080	239	94	j.	j.	PROPN
dem-1080	239	95	,	,	PUNCT
dem-1080	239	96	schabek	schabek	NOUN
dem-1080	239	97	,	,	PUNCT
dem-1080	239	98	t.	t.	PROPN
dem-1080	239	99	(	(	PUNCT
dem-1080	239	100	2011	2011	NUM
dem-1080	239	101	)	)	PUNCT
dem-1080	239	102	,	,	PUNCT
dem-1080	239	103	the	the	DET
dem-1080	239	104	role	role	NOUN
dem-1080	239	105	of	of	ADP
dem-1080	239	106	stock	stock	NOUN
dem-1080	239	107	size	size	NOUN
dem-1080	239	108	and	and	CCONJ
dem-1080	239	109	trading	trading	NOUN
dem-1080	239	110	intensity	intensity	NOUN
dem-1080	239	111	in	in	ADP
dem-1080	239	112	the	the	DET
dem-1080	239	113	magnitude	magnitude	NOUN
dem-1080	239	114	of	of	ADP
dem-1080	239	115	the	the	DET
dem-1080	239	116	„	„	PUNCT
dem-1080	239	117	interval	interval	NOUN
dem-1080	239	118	effect	effect	NOUN
dem-1080	239	119	”	"	PUNCT
dem-1080	239	120	in	in	ADP
dem-1080	239	121	beta	beta	NOUN
dem-1080	239	122	estimation	estimation	NOUN
dem-1080	239	123	:	:	PUNCT
dem-1080	239	124	empirical	empirical	ADJ
dem-1080	239	125	evidence	evidence	NOUN
dem-1080	239	126	from	from	ADP
dem-1080	239	127	the	the	DET
dem-1080	239	128	polish	polish	ADJ
dem-1080	239	129	capital	capital	NOUN
dem-1080	239	130	market	market	NOUN
dem-1080	239	131	,	,	PUNCT
dem-1080	239	132	emerging	emerge	VERB
dem-1080	239	133	markets	market	NOUN
dem-1080	239	134	finance	finance	NOUN
dem-1080	239	135	&	&	CCONJ
dem-1080	239	136	trade	trade	NOUN
dem-1080	239	137	,	,	PUNCT
dem-1080	239	138	47(1	47(1	NUM
dem-1080	239	139	)	)	PUNCT
dem-1080	239	140	,	,	PUNCT
dem-1080	239	141	28–49	28–49	NUM
dem-1080	239	142	.	.	PUNCT
dem-1080	240	1	busse	busse	PROPN
dem-1080	240	2	,	,	PUNCT
dem-1080	240	3	j.a	j.a	PROPN
dem-1080	240	4	.	.	PROPN
dem-1080	240	5	(	(	PUNCT
dem-1080	240	6	1999	1999	NUM
dem-1080	240	7	)	)	PUNCT
dem-1080	240	8	,	,	PUNCT
dem-1080	240	9	volatility	volatility	NOUN
dem-1080	240	10	timing	timing	NOUN
dem-1080	240	11	in	in	ADP
dem-1080	240	12	mutual	mutual	ADJ
dem-1080	240	13	funds	fund	NOUN
dem-1080	240	14	:	:	PUNCT
dem-1080	240	15	evidence	evidence	NOUN
dem-1080	240	16	from	from	ADP
dem-1080	240	17	daily	daily	ADJ
dem-1080	240	18	returns	return	NOUN
dem-1080	240	19	,	,	PUNCT
dem-1080	240	20	the	the	DET
dem-1080	240	21	review	review	NOUN
dem-1080	240	22	of	of	ADP
dem-1080	240	23	financial	financial	ADJ
dem-1080	240	24	studies	study	NOUN
dem-1080	240	25	,	,	PUNCT
dem-1080	240	26	12	12	NUM
dem-1080	240	27	,	,	PUNCT
dem-1080	240	28	1009–1041	1009–1041	NUM
dem-1080	240	29	.	.	PUNCT
dem-1080	241	1	campbell	campbell	PROPN
dem-1080	241	2	,	,	PUNCT
dem-1080	241	3	j.y	j.y	PROPN
dem-1080	241	4	.	.	PROPN
dem-1080	241	5	,	,	PUNCT
dem-1080	241	6	lo	lo	PROPN
dem-1080	241	7	a.w	a.w	PROPN
dem-1080	241	8	.	.	PROPN
dem-1080	241	9	,	,	PUNCT
dem-1080	241	10	mackinlay	mackinlay	PROPN
dem-1080	241	11	,	,	PUNCT
dem-1080	241	12	a.o	a.o	PROPN
dem-1080	241	13	.	.	PROPN
dem-1080	241	14	(	(	PUNCT
dem-1080	241	15	1997	1997	NUM
dem-1080	241	16	)	)	PUNCT
dem-1080	241	17	,	,	PUNCT
dem-1080	241	18	the	the	DET
dem-1080	241	19	econometric	econometric	NOUN
dem-1080	241	20	of	of	ADP
dem-1080	241	21	financial	financial	ADJ
dem-1080	241	22	markets	market	NOUN
dem-1080	241	23	,	,	PUNCT
dem-1080	241	24	princeton	princeton	PROPN
dem-1080	241	25	university	university	PROPN
dem-1080	241	26	press	press	NOUN
dem-1080	241	27	,	,	PUNCT
dem-1080	241	28	new	new	PROPN
dem-1080	241	29	jersey	jersey	PROPN
dem-1080	241	30	.	.	PUNCT
dem-1080	242	1	carhart	carhart	NOUN
dem-1080	242	2	,	,	PUNCT
dem-1080	242	3	m.m	m.m	PROPN
dem-1080	242	4	.	.	PROPN
dem-1080	242	5	(	(	PUNCT
dem-1080	242	6	1997	1997	NUM
dem-1080	242	7	)	)	PUNCT
dem-1080	242	8	,	,	PUNCT
dem-1080	242	9	on	on	ADP
dem-1080	242	10	persistence	persistence	NOUN
dem-1080	242	11	in	in	ADP
dem-1080	242	12	mutual	mutual	ADJ
dem-1080	242	13	fund	fund	NOUN
dem-1080	242	14	performance	performance	NOUN
dem-1080	242	15	,	,	PUNCT
dem-1080	242	16	the	the	DET
dem-1080	242	17	journal	journal	NOUN
dem-1080	242	18	of	of	ADP
dem-1080	242	19	finance	finance	NOUN
dem-1080	242	20	,	,	PUNCT
dem-1080	242	21	52	52	NUM
dem-1080	242	22	,	,	PUNCT
dem-1080	242	23	57–82	57–82	NUM
dem-1080	242	24	.	.	PUNCT
dem-1080	242	25	cogneau	cogneau	NOUN
dem-1080	242	26	,	,	PUNCT
dem-1080	242	27	p.	p.	NOUN
dem-1080	242	28	,	,	PUNCT
dem-1080	242	29	hübner	hübner	NOUN
dem-1080	242	30	,	,	PUNCT
dem-1080	242	31	g.	g.	PROPN
dem-1080	242	32	(	(	PUNCT
dem-1080	242	33	2009	2009	NUM
dem-1080	242	34	)	)	PUNCT
dem-1080	242	35	,	,	PUNCT
dem-1080	242	36	the	the	DET
dem-1080	242	37	101	101	NUM
dem-1080	242	38	ways	way	NOUN
dem-1080	242	39	to	to	PART
dem-1080	242	40	measure	measure	VERB
dem-1080	242	41	portfolio	portfolio	NOUN
dem-1080	242	42	performance	performance	NOUN
dem-1080	242	43	,	,	PUNCT
dem-1080	242	44	working	working	NOUN
dem-1080	242	45	paper	paper	NOUN
dem-1080	242	46	,	,	PUNCT
dem-1080	242	47	http://ssrn.com/abstract=1326076	http://ssrn.com/abstract=1326076	PROPN
dem-1080	242	48	(	(	PUNCT
dem-1080	242	49	sept	sept	PROPN
dem-1080	242	50	8	8	NUM
dem-1080	242	51	,	,	PUNCT
dem-1080	242	52	2011	2011	NUM
dem-1080	242	53	)	)	PUNCT
dem-1080	242	54	.	.	PUNCT
dem-1080	243	1	cohen	cohen	PROPN
dem-1080	243	2	,	,	PUNCT
dem-1080	243	3	k.j	k.j	PROPN
dem-1080	243	4	.	.	PROPN
dem-1080	243	5	,	,	PUNCT
dem-1080	243	6	hawawini	hawawini	PROPN
dem-1080	243	7	,	,	PUNCT
dem-1080	243	8	g.a	g.a	PROPN
dem-1080	243	9	.	.	PROPN
dem-1080	243	10	,	,	PUNCT
dem-1080	243	11	maier	maier	PROPN
dem-1080	243	12	,	,	PUNCT
dem-1080	243	13	s.f	s.f	PROPN
dem-1080	243	14	.	.	PROPN
dem-1080	243	15	,	,	PUNCT
dem-1080	243	16	schwartz	schwartz	PROPN
dem-1080	243	17	,	,	PUNCT
dem-1080	243	18	r.a	r.a	PROPN
dem-1080	243	19	.	.	PROPN
dem-1080	243	20	,	,	PUNCT
dem-1080	243	21	whitcomb	whitcomb	PROPN
dem-1080	243	22	,	,	PUNCT
dem-1080	243	23	d.k	d.k	PROPN
dem-1080	243	24	.	.	PROPN
dem-1080	243	25	(	(	PUNCT
dem-1080	243	26	1980	1980	NUM
dem-1080	243	27	)	)	PUNCT
dem-1080	243	28	,	,	PUNCT
dem-1080	243	29	implications	implication	NOUN
dem-1080	243	30	of	of	ADP
dem-1080	243	31	microstructure	microstructure	ADJ
dem-1080	243	32	theory	theory	NOUN
dem-1080	243	33	for	for	ADP
dem-1080	243	34	empirical	empirical	ADJ
dem-1080	243	35	research	research	NOUN
dem-1080	243	36	on	on	ADP
dem-1080	243	37	stock	stock	NOUN
dem-1080	243	38	price	price	NOUN
dem-1080	243	39	behaviour	behaviour	NOUN
dem-1080	243	40	,	,	PUNCT
dem-1080	243	41	the	the	DET
dem-1080	243	42	journal	journal	NOUN
dem-1080	243	43	of	of	ADP
dem-1080	243	44	finance	finance	NOUN
dem-1080	243	45	,	,	PUNCT
dem-1080	243	46	35	35	NUM
dem-1080	243	47	,	,	PUNCT
dem-1080	243	48	249–257	249–257	NUM
dem-1080	243	49	.	.	PUNCT
dem-1080	243	50	dimson	dimson	NOUN
dem-1080	243	51	,	,	PUNCT
dem-1080	243	52	e.	e.	PROPN
dem-1080	243	53	(	(	PUNCT
dem-1080	243	54	1979	1979	NUM
dem-1080	243	55	)	)	PUNCT
dem-1080	243	56	,	,	PUNCT
dem-1080	243	57	risk	risk	NOUN
dem-1080	243	58	measurement	measurement	NOUN
dem-1080	243	59	when	when	SCONJ
dem-1080	243	60	shares	share	NOUN
dem-1080	243	61	are	be	AUX
dem-1080	243	62	subject	subject	ADJ
dem-1080	243	63	to	to	ADP
dem-1080	243	64	infrequent	infrequent	ADJ
dem-1080	243	65	trading	trading	NOUN
dem-1080	243	66	,	,	PUNCT
dem-1080	243	67	journal	journal	NOUN
dem-1080	243	68	of	of	ADP
dem-1080	243	69	financial	financial	ADJ
dem-1080	243	70	economics	economic	NOUN
dem-1080	243	71	,	,	PUNCT
dem-1080	243	72	7	7	NUM
dem-1080	243	73	,	,	PUNCT
dem-1080	243	74	197–226	197–226	NUM
dem-1080	243	75	.	.	PUNCT
dem-1080	244	1	doman	doman	PROPN
dem-1080	244	2	,	,	PUNCT
dem-1080	244	3	m.	m.	NOUN
dem-1080	244	4	,	,	PUNCT
dem-1080	244	5	doman	doman	PROPN
dem-1080	244	6	,	,	PUNCT
dem-1080	244	7	r.	r.	PROPN
dem-1080	244	8	(	(	PUNCT
dem-1080	244	9	2004	2004	NUM
dem-1080	244	10	)	)	PUNCT
dem-1080	244	11	,	,	PUNCT
dem-1080	244	12	ekonometryczne	ekonometryczne	PROPN
dem-1080	244	13	modelowanie	modelowanie	PROPN
dem-1080	244	14	dynamiki	dynamiki	PROPN
dem-1080	244	15	polskiego	polskiego	PROPN
dem-1080	244	16	rynku	rynku	PROPN
dem-1080	244	17	finansowego	finansowego	PROPN
dem-1080	244	18	,	,	PUNCT
dem-1080	244	19	wydawnictwo	wydawnictwo	PROPN
dem-1080	244	20	akademii	akademii	PROPN
dem-1080	244	21	ekonomicznej	ekonomicznej	PROPN
dem-1080	244	22	w	w	PROPN
dem-1080	244	23	poznaniu	poznaniu	NOUN
dem-1080	244	24	,	,	PUNCT
dem-1080	244	25	poznań	poznań	NOUN
dem-1080	244	26	.	.	PUNCT
dem-1080	245	1	doman	doman	PROPN
dem-1080	245	2	,	,	PUNCT
dem-1080	245	3	m.	m.	NOUN
dem-1080	245	4	(	(	PUNCT
dem-1080	245	5	2010	2010	NUM
dem-1080	245	6	)	)	PUNCT
dem-1080	245	7	,	,	PUNCT
dem-1080	245	8	liquidity	liquidity	NOUN
dem-1080	245	9	and	and	CCONJ
dem-1080	245	10	market	market	NOUN
dem-1080	245	11	microstructure	microstructure	NOUN
dem-1080	245	12	noise	noise	NOUN
dem-1080	245	13	:	:	PUNCT
dem-1080	245	14	evidence	evidence	NOUN
dem-1080	245	15	from	from	ADP
dem-1080	245	16	the	the	DET
dem-1080	245	17	pekao	pekao	NOUN
dem-1080	245	18	data	datum	NOUN
dem-1080	245	19	,	,	PUNCT
dem-1080	245	20	dynamic	dynamic	ADJ
dem-1080	245	21	econometric	econometric	ADJ
dem-1080	245	22	models	model	NOUN
dem-1080	245	23	,	,	PUNCT
dem-1080	245	24	10	10	NUM
dem-1080	245	25	,	,	PUNCT
dem-1080	245	26	5–14	5–14	PROPN
dem-1080	245	27	.	.	PUNCT
dem-1080	245	28	joanna	joanna	PROPN
dem-1080	245	29	olbryś	olbryś	VERB
dem-1080	245	30	200	200	NUM
dem-1080	245	31	engle	engle	NOUN
dem-1080	245	32	,	,	PUNCT
dem-1080	245	33	r.f	r.f	PROPN
dem-1080	245	34	.	.	PROPN
dem-1080	245	35	(	(	PUNCT
dem-1080	245	36	1982	1982	NUM
dem-1080	245	37	)	)	PUNCT
dem-1080	245	38	,	,	PUNCT
dem-1080	245	39	autoregressive	autoregressive	ADJ
dem-1080	245	40	conditional	conditional	ADJ
dem-1080	245	41	heteroscedasticity	heteroscedasticity	NOUN
dem-1080	245	42	with	with	ADP
dem-1080	245	43	estimates	estimate	NOUN
dem-1080	245	44	of	of	ADP
dem-1080	245	45	the	the	DET
dem-1080	245	46	variance	variance	NOUN
dem-1080	245	47	of	of	ADP
dem-1080	245	48	united	united	PROPN
dem-1080	245	49	kingdom	kingdom	PROPN
dem-1080	245	50	inflations	inflation	NOUN
dem-1080	245	51	,	,	PUNCT
dem-1080	245	52	econometrica	econometrica	PROPN
dem-1080	245	53	,	,	PUNCT
dem-1080	245	54	50	50	NUM
dem-1080	245	55	,	,	PUNCT
dem-1080	245	56	987–1007	987–1007	NUM
dem-1080	245	57	.	.	PUNCT
dem-1080	246	1	engle	engle	PROPN
dem-1080	246	2	,	,	PUNCT
dem-1080	246	3	r.f	r.f	PROPN
dem-1080	246	4	.	.	PROPN
dem-1080	246	5	(	(	PUNCT
dem-1080	246	6	ed	ed	NOUN
dem-1080	246	7	.	.	PUNCT
dem-1080	246	8	)	)	PUNCT
dem-1080	247	1	(	(	PUNCT
dem-1080	247	2	2000	2000	NUM
dem-1080	247	3	)	)	PUNCT
dem-1080	247	4	,	,	PUNCT
dem-1080	247	5	arch	arch	NOUN
dem-1080	247	6	.	.	PUNCT
dem-1080	248	1	selected	select	VERB
dem-1080	248	2	readings	reading	NOUN
dem-1080	248	3	,	,	PUNCT
dem-1080	248	4	oxford	oxford	PROPN
dem-1080	248	5	university	university	NOUN
dem-1080	248	6	press	press	NOUN
dem-1080	248	7	.	.	PUNCT
dem-1080	249	1	fama	fama	PROPN
dem-1080	249	2	,	,	PUNCT
dem-1080	249	3	e.f	e.f	PROPN
dem-1080	249	4	.	.	PROPN
dem-1080	249	5	,	,	PUNCT
dem-1080	249	6	french	french	PROPN
dem-1080	249	7	,	,	PUNCT
dem-1080	249	8	k.r	k.r	PROPN
dem-1080	249	9	.	.	PROPN
dem-1080	249	10	(	(	PUNCT
dem-1080	249	11	1993	1993	NUM
dem-1080	249	12	)	)	PUNCT
dem-1080	249	13	,	,	PUNCT
dem-1080	249	14	common	common	ADJ
dem-1080	249	15	risk	risk	NOUN
dem-1080	249	16	factors	factor	NOUN
dem-1080	249	17	in	in	ADP
dem-1080	249	18	the	the	DET
dem-1080	249	19	returns	return	NOUN
dem-1080	249	20	on	on	ADP
dem-1080	249	21	stocks	stock	NOUN
dem-1080	249	22	and	and	CCONJ
dem-1080	249	23	bonds	bond	NOUN
dem-1080	249	24	,	,	PUNCT
dem-1080	249	25	journal	journal	NOUN
dem-1080	249	26	of	of	ADP
dem-1080	249	27	financial	financial	ADJ
dem-1080	249	28	economics	economic	NOUN
dem-1080	249	29	,	,	PUNCT
dem-1080	249	30	33	33	NUM
dem-1080	249	31	,	,	PUNCT
dem-1080	249	32	3–56	3–56	NUM
dem-1080	249	33	.	.	PUNCT
dem-1080	250	1	fisher	fisher	PROPN
dem-1080	250	2	,	,	PUNCT
dem-1080	250	3	l.	l.	PROPN
dem-1080	250	4	(	(	PUNCT
dem-1080	250	5	1966	1966	NUM
dem-1080	250	6	)	)	PUNCT
dem-1080	250	7	,	,	PUNCT
dem-1080	250	8	some	some	DET
dem-1080	250	9	new	new	ADJ
dem-1080	250	10	stock	stock	NOUN
dem-1080	250	11	market	market	NOUN
dem-1080	250	12	indexes	index	NOUN
dem-1080	250	13	,	,	PUNCT
dem-1080	250	14	journal	journal	NOUN
dem-1080	250	15	of	of	ADP
dem-1080	250	16	business	business	NOUN
dem-1080	250	17	,	,	PUNCT
dem-1080	250	18	39	39	NUM
dem-1080	250	19	,	,	PUNCT
dem-1080	250	20	191–225	191–225	NUM
dem-1080	250	21	.	.	PUNCT
dem-1080	251	1	fiszeder	fiszeder	NOUN
dem-1080	251	2	,	,	PUNCT
dem-1080	251	3	p.	p.	NOUN
dem-1080	251	4	(	(	PUNCT
dem-1080	251	5	2009	2009	NUM
dem-1080	251	6	)	)	PUNCT
dem-1080	251	7	,	,	PUNCT
dem-1080	251	8	modele	modele	PROPN
dem-1080	251	9	klasy	klasy	PROPN
dem-1080	251	10	garch	garch	PROPN
dem-1080	251	11	w	w	PROPN
dem-1080	251	12	empirycznych	empirycznych	PROPN
dem-1080	251	13	badaniach	badaniach	PROPN
dem-1080	251	14	finansowych	finansowych	PROPN
dem-1080	251	15	(	(	PUNCT
dem-1080	251	16	the	the	DET
dem-1080	251	17	class	class	NOUN
dem-1080	251	18	of	of	ADP
dem-1080	251	19	garch	garch	NOUN
dem-1080	251	20	models	model	NOUN
dem-1080	251	21	in	in	ADP
dem-1080	251	22	empirical	empirical	ADJ
dem-1080	251	23	finance	finance	NOUN
dem-1080	251	24	research	research	NOUN
dem-1080	251	25	)	)	PUNCT
dem-1080	251	26	,	,	PUNCT
dem-1080	251	27	wydawnictwo	wydawnictwo	PROPN
dem-1080	251	28	naukowe	naukowe	NOUN
dem-1080	251	29	uniwersytetu	uniwersytetu	PROPN
dem-1080	251	30	mikołaja	mikołaja	PROPN
dem-1080	251	31	kopernika	kopernika	NOUN
dem-1080	251	32	,	,	PUNCT
dem-1080	251	33	toruń	toruń	PROPN
dem-1080	251	34	.	.	PUNCT
dem-1080	252	1	ferson	ferson	PROPN
dem-1080	252	2	,	,	PUNCT
dem-1080	252	3	w.e	w.e	PROPN
dem-1080	252	4	.	.	PROPN
dem-1080	252	5	,	,	PUNCT
dem-1080	252	6	schadt	schadt	NOUN
dem-1080	252	7	r.w	r.w	PROPN
dem-1080	252	8	.	.	PROPN
dem-1080	252	9	(	(	PUNCT
dem-1080	252	10	1996	1996	NUM
dem-1080	252	11	)	)	PUNCT
dem-1080	252	12	,	,	PUNCT
dem-1080	252	13	measuring	measure	VERB
dem-1080	252	14	fund	fund	NOUN
dem-1080	252	15	strategy	strategy	NOUN
dem-1080	252	16	and	and	CCONJ
dem-1080	252	17	performance	performance	NOUN
dem-1080	252	18	in	in	ADP
dem-1080	252	19	changing	change	VERB
dem-1080	252	20	economic	economic	ADJ
dem-1080	252	21	conditions	condition	NOUN
dem-1080	252	22	,	,	PUNCT
dem-1080	252	23	the	the	DET
dem-1080	252	24	journal	journal	NOUN
dem-1080	252	25	of	of	ADP
dem-1080	252	26	finance	finance	NOUN
dem-1080	252	27	,	,	PUNCT
dem-1080	252	28	51	51	NUM
dem-1080	252	29	,	,	PUNCT
dem-1080	252	30	425–461	425–461	NUM
dem-1080	252	31	.	.	PUNCT
dem-1080	253	1	greene	greene	PROPN
dem-1080	253	2	,	,	PUNCT
dem-1080	253	3	w.h	w.h	PROPN
dem-1080	253	4	.	.	PROPN
dem-1080	253	5	(	(	PUNCT
dem-1080	253	6	2002	2002	NUM
dem-1080	253	7	)	)	PUNCT
dem-1080	253	8	,	,	PUNCT
dem-1080	253	9	econometric	econometric	ADJ
dem-1080	253	10	analysis	analysis	NOUN
dem-1080	253	11	,	,	PUNCT
dem-1080	253	12	fifth	fifth	ADJ
dem-1080	253	13	edition	edition	NOUN
dem-1080	253	14	,	,	PUNCT
dem-1080	253	15	prentice	prentice	NOUN
dem-1080	253	16	hall	hall	PROPN
dem-1080	253	17	,	,	PUNCT
dem-1080	253	18	new	new	PROPN
dem-1080	253	19	jersey	jersey	PROPN
dem-1080	253	20	.	.	PUNCT
dem-1080	254	1	hamilton	hamilton	PROPN
dem-1080	254	2	,	,	PUNCT
dem-1080	254	3	j.d	j.d	PROPN
dem-1080	254	4	.	.	PROPN
dem-1080	254	5	(	(	PUNCT
dem-1080	254	6	2008	2008	NUM
dem-1080	254	7	)	)	PUNCT
dem-1080	254	8	,	,	PUNCT
dem-1080	254	9	macroeconomics	macroeconomic	NOUN
dem-1080	254	10	and	and	CCONJ
dem-1080	254	11	arch	arch	NOUN
dem-1080	254	12	,	,	PUNCT
dem-1080	254	13	working	work	VERB
dem-1080	254	14	paper	paper	NOUN
dem-1080	254	15	14151	14151	NUM
dem-1080	254	16	,	,	PUNCT
dem-1080	254	17	nber	nber	PROPN
dem-1080	254	18	working	working	PROPN
dem-1080	254	19	paper	paper	PROPN
dem-1080	254	20	series	series	PROPN
dem-1080	254	21	,	,	PUNCT
dem-1080	254	22	cambridge	cambridge	PROPN
dem-1080	254	23	.	.	PROPN
dem-1080	254	24	henriksson	henriksson	PROPN
dem-1080	254	25	,	,	PUNCT
dem-1080	254	26	r.	r.	PROPN
dem-1080	254	27	,	,	PUNCT
dem-1080	254	28	merton	merton	PROPN
dem-1080	254	29	,	,	PUNCT
dem-1080	254	30	r.	r.	PROPN
dem-1080	254	31	(	(	PUNCT
dem-1080	254	32	1981	1981	NUM
dem-1080	254	33	)	)	PUNCT
dem-1080	254	34	,	,	PUNCT
dem-1080	254	35	on	on	ADP
dem-1080	254	36	market	market	NOUN
dem-1080	254	37	timing	timing	NOUN
dem-1080	254	38	and	and	CCONJ
dem-1080	254	39	investment	investment	NOUN
dem-1080	254	40	performance	performance	NOUN
dem-1080	254	41	.	.	PUNCT
dem-1080	255	1	ii	ii	X
dem-1080	255	2	.	.	PUNCT
dem-1080	256	1	statistical	statistical	ADJ
dem-1080	256	2	procedures	procedure	NOUN
dem-1080	256	3	for	for	ADP
dem-1080	256	4	evaluating	evaluate	VERB
dem-1080	256	5	forecasting	forecasting	NOUN
dem-1080	256	6	skills	skill	NOUN
dem-1080	256	7	,	,	PUNCT
dem-1080	256	8	journal	journal	NOUN
dem-1080	256	9	of	of	ADP
dem-1080	256	10	business	business	NOUN
dem-1080	256	11	,	,	PUNCT
dem-1080	256	12	54	54	NUM
dem-1080	256	13	,	,	PUNCT
dem-1080	256	14	513–533	513–533	NUM
dem-1080	256	15	.	.	PUNCT
dem-1080	257	1	henriksson	henriksson	PROPN
dem-1080	257	2	,	,	PUNCT
dem-1080	257	3	r.	r.	PROPN
dem-1080	257	4	(	(	PUNCT
dem-1080	257	5	1984	1984	NUM
dem-1080	257	6	)	)	PUNCT
dem-1080	257	7	,	,	PUNCT
dem-1080	257	8	market	market	NOUN
dem-1080	257	9	timing	timing	NOUN
dem-1080	257	10	and	and	CCONJ
dem-1080	257	11	mutual	mutual	ADJ
dem-1080	257	12	fund	fund	NOUN
dem-1080	257	13	performance	performance	NOUN
dem-1080	257	14	:	:	PUNCT
dem-1080	257	15	an	an	DET
dem-1080	257	16	empirical	empirical	ADJ
dem-1080	257	17	investigation	investigation	NOUN
dem-1080	257	18	,	,	PUNCT
dem-1080	257	19	journal	journal	NOUN
dem-1080	257	20	of	of	ADP
dem-1080	257	21	business	business	NOUN
dem-1080	257	22	,	,	PUNCT
dem-1080	257	23	57	57	NUM
dem-1080	257	24	,	,	PUNCT
dem-1080	257	25	73–96	73–96	NUM
dem-1080	257	26	.	.	PUNCT
dem-1080	258	1	jensen	jensen	PROPN
dem-1080	258	2	,	,	PUNCT
dem-1080	258	3	m.	m.	NOUN
dem-1080	258	4	(	(	PUNCT
dem-1080	258	5	1968	1968	NUM
dem-1080	258	6	)	)	PUNCT
dem-1080	258	7	,	,	PUNCT
dem-1080	258	8	the	the	DET
dem-1080	258	9	performance	performance	NOUN
dem-1080	258	10	of	of	ADP
dem-1080	258	11	mutual	mutual	ADJ
dem-1080	258	12	funds	fund	NOUN
dem-1080	258	13	in	in	ADP
dem-1080	258	14	the	the	DET
dem-1080	258	15	period	period	NOUN
dem-1080	258	16	1945	1945	NUM
dem-1080	258	17	-	-	SYM
dem-1080	258	18	1964	1964	NUM
dem-1080	258	19	,	,	PUNCT
dem-1080	258	20	the	the	DET
dem-1080	258	21	journal	journal	NOUN
dem-1080	258	22	of	of	ADP
dem-1080	258	23	finance	finance	NOUN
dem-1080	258	24	,	,	PUNCT
dem-1080	258	25	23	23	NUM
dem-1080	258	26	,	,	PUNCT
dem-1080	258	27	389–416	389–416	NUM
dem-1080	258	28	.	.	PUNCT
dem-1080	259	1	kao	kao	PROPN
dem-1080	259	2	,	,	PUNCT
dem-1080	259	3	g.w	g.w	PROPN
dem-1080	259	4	.	.	PROPN
dem-1080	259	5	,	,	PUNCT
dem-1080	259	6	cheng	cheng	PROPN
dem-1080	259	7	,	,	PUNCT
dem-1080	259	8	l.t	l.t	PROPN
dem-1080	259	9	.	.	PROPN
dem-1080	259	10	,	,	PUNCT
dem-1080	259	11	chan	chan	PROPN
dem-1080	259	12	,	,	PUNCT
dem-1080	259	13	k.c	k.c	PROPN
dem-1080	259	14	.	.	PROPN
dem-1080	259	15	(	(	PUNCT
dem-1080	259	16	1998	1998	NUM
dem-1080	259	17	)	)	PUNCT
dem-1080	259	18	,	,	PUNCT
dem-1080	259	19	international	international	ADJ
dem-1080	259	20	mutual	mutual	ADJ
dem-1080	259	21	fund	fund	NOUN
dem-1080	259	22	selectivity	selectivity	NOUN
dem-1080	259	23	and	and	CCONJ
dem-1080	259	24	market	market	NOUN
dem-1080	259	25	timing	timing	NOUN
dem-1080	259	26	during	during	ADP
dem-1080	259	27	up	up	ADP
dem-1080	259	28	and	and	CCONJ
dem-1080	259	29	down	down	ADP
dem-1080	259	30	market	market	NOUN
dem-1080	259	31	conditions	condition	NOUN
dem-1080	259	32	,	,	PUNCT
dem-1080	259	33	the	the	DET
dem-1080	259	34	financial	financial	ADJ
dem-1080	259	35	review	review	NOUN
dem-1080	259	36	,	,	PUNCT
dem-1080	259	37	33	33	NUM
dem-1080	259	38	,	,	PUNCT
dem-1080	259	39	127–144	127–144	NUM
dem-1080	259	40	.	.	PUNCT
dem-1080	260	1	kufel	kufel	NOUN
dem-1080	260	2	,	,	PUNCT
dem-1080	260	3	t.	t.	PROPN
dem-1080	260	4	(	(	PUNCT
dem-1080	260	5	2009	2009	NUM
dem-1080	260	6	)	)	PUNCT
dem-1080	260	7	,	,	PUNCT
dem-1080	260	8	ekonometria	ekonometria	PROPN
dem-1080	260	9	.	.	PUNCT
dem-1080	261	1	rozwiązywanie	rozwiązywanie	PROPN
dem-1080	261	2	problemów	problemów	PROPN
dem-1080	261	3	z	z	PROPN
dem-1080	261	4	wykorzystaniem	wykorzystaniem	PROPN
dem-1080	261	5	programu	programu	PROPN
dem-1080	261	6	gretl	gretl	PROPN
dem-1080	261	7	,	,	PUNCT
dem-1080	261	8	pwn	pwn	PROPN
dem-1080	261	9	,	,	PUNCT
dem-1080	261	10	warszawa	warszawa	PROPN
dem-1080	261	11	.	.	PUNCT
dem-1080	262	1	lee	lee	PROPN
dem-1080	262	2	,	,	PUNCT
dem-1080	262	3	j.	j.	PROPN
dem-1080	262	4	h.	h.	PROPN
dem-1080	262	5	h.	h.	PROPN
dem-1080	262	6	(	(	PUNCT
dem-1080	262	7	1991	1991	NUM
dem-1080	262	8	)	)	PUNCT
dem-1080	262	9	,	,	PUNCT
dem-1080	262	10	a	a	DET
dem-1080	262	11	lagrange	lagrange	NOUN
dem-1080	262	12	multiplier	multipli	ADJ
dem-1080	262	13	test	test	NOUN
dem-1080	262	14	for	for	ADP
dem-1080	262	15	garch	garch	NOUN
dem-1080	262	16	models	model	NOUN
dem-1080	262	17	,	,	PUNCT
dem-1080	262	18	economics	economic	NOUN
dem-1080	262	19	letters	letter	NOUN
dem-1080	262	20	,	,	PUNCT
dem-1080	262	21	37	37	NUM
dem-1080	262	22	,	,	PUNCT
dem-1080	262	23	265–271	265–271	NUM
dem-1080	262	24	.	.	PUNCT
dem-1080	263	1	ljung	ljung	PROPN
dem-1080	263	2	,	,	PUNCT
dem-1080	263	3	g.	g.	PROPN
dem-1080	263	4	,	,	PUNCT
dem-1080	263	5	box	box	PROPN
dem-1080	263	6	,	,	PUNCT
dem-1080	263	7	g.e.p	g.e.p	PROPN
dem-1080	263	8	.	.	PUNCT
dem-1080	264	1	(	(	PUNCT
dem-1080	264	2	1978	1978	NUM
dem-1080	264	3	)	)	PUNCT
dem-1080	264	4	,	,	PUNCT
dem-1080	264	5	on	on	ADP
dem-1080	264	6	a	a	DET
dem-1080	264	7	measure	measure	NOUN
dem-1080	264	8	of	of	ADP
dem-1080	264	9	lack	lack	NOUN
dem-1080	264	10	of	of	ADP
dem-1080	264	11	fit	fit	ADJ
dem-1080	264	12	in	in	ADP
dem-1080	264	13	time	time	NOUN
dem-1080	264	14	series	series	NOUN
dem-1080	264	15	models	model	NOUN
dem-1080	264	16	,	,	PUNCT
dem-1080	264	17	biometrika	biometrika	NOUN
dem-1080	264	18	,	,	PUNCT
dem-1080	264	19	66	66	NUM
dem-1080	264	20	,	,	PUNCT
dem-1080	264	21	67–72	67–72	NUM
dem-1080	264	22	.	.	PUNCT
dem-1080	265	1	olbryś	olbryś	PROPN
dem-1080	265	2	,	,	PUNCT
dem-1080	265	3	j.	j.	PROPN
dem-1080	265	4	(	(	PUNCT
dem-1080	265	5	2012	2012	NUM
dem-1080	265	6	)	)	PUNCT
dem-1080	265	7	,	,	PUNCT
dem-1080	265	8	wieloczynnikowe	wieloczynnikowe	PROPN
dem-1080	265	9	hybrydowe	hybrydowe	PROPN
dem-1080	265	10	modele	modele	PROPN
dem-1080	265	11	market	market	NOUN
dem-1080	265	12	-	-	PUNCT
dem-1080	265	13	timing	time	VERB
dem-1080	265	14	polskich	polskich	ADJ
dem-1080	265	15	funduszy	funduszy	ADJ
dem-1080	265	16	inwestycyjnych	inwestycyjnych	NOUN
dem-1080	265	17	(	(	PUNCT
dem-1080	265	18	multifactor	multifactor	NOUN
dem-1080	265	19	hybrid	hybrid	ADJ
dem-1080	265	20	market	market	NOUN
dem-1080	265	21	-	-	PUNCT
dem-1080	265	22	timing	timing	NOUN
dem-1080	265	23	models	model	NOUN
dem-1080	265	24	of	of	ADP
dem-1080	265	25	polish	polish	ADJ
dem-1080	265	26	mutual	mutual	ADJ
dem-1080	265	27	funds	fund	NOUN
dem-1080	265	28	)	)	PUNCT
dem-1080	265	29	,	,	PUNCT
dem-1080	265	30	studia	studia	NOUN
dem-1080	265	31	ekonomiczne	ekonomiczne	NOUN
dem-1080	265	32	–	–	PUNCT
dem-1080	265	33	zeszyty	zeszyty	NOUN
dem-1080	265	34	naukowe	naukowe	NOUN
dem-1080	265	35	,	,	PUNCT
dem-1080	265	36	uniwersytet	uniwersytet	X
dem-1080	265	37	ekonomiczny	ekonomiczny	PROPN
dem-1080	265	38	w	w	PROPN
dem-1080	265	39	katowicach	katowicach	PROPN
dem-1080	265	40	,	,	PUNCT
dem-1080	265	41	accepted	accept	VERB
dem-1080	265	42	for	for	ADP
dem-1080	265	43	publication	publication	NOUN
dem-1080	265	44	.	.	PUNCT
dem-1080	266	1	olbryś	olbryś	ADJ
dem-1080	266	2	,	,	PUNCT
dem-1080	266	3	j.	j.	PROPN
dem-1080	266	4	(	(	PUNCT
dem-1080	266	5	2011a	2011a	NUM
dem-1080	266	6	)	)	PUNCT
dem-1080	266	7	,	,	PUNCT
dem-1080	266	8	book	book	NOUN
dem-1080	266	9	-	-	PUNCT
dem-1080	266	10	to	to	ADP
dem-1080	266	11	-	-	PUNCT
dem-1080	266	12	market	market	NOUN
dem-1080	266	13	,	,	PUNCT
dem-1080	266	14	size	size	NOUN
dem-1080	266	15	and	and	CCONJ
dem-1080	266	16	momentum	momentum	NOUN
dem-1080	266	17	factors	factor	NOUN
dem-1080	266	18	in	in	ADP
dem-1080	266	19	market	market	NOUN
dem-1080	266	20	-	-	PUNCT
dem-1080	266	21	timing	timing	NOUN
dem-1080	266	22	models	model	NOUN
dem-1080	266	23	:	:	PUNCT
dem-1080	266	24	the	the	DET
dem-1080	266	25	case	case	NOUN
dem-1080	266	26	of	of	ADP
dem-1080	266	27	polish	polish	ADJ
dem-1080	266	28	emerging	emerge	VERB
dem-1080	266	29	market	market	NOUN
dem-1080	266	30	,	,	PUNCT
dem-1080	266	31	research	research	NOUN
dem-1080	266	32	in	in	ADP
dem-1080	266	33	economics	economic	NOUN
dem-1080	266	34	and	and	CCONJ
dem-1080	266	35	business	business	NOUN
dem-1080	266	36	:	:	PUNCT
dem-1080	266	37	central	central	ADJ
dem-1080	266	38	and	and	CCONJ
dem-1080	266	39	eastern	eastern	PROPN
dem-1080	266	40	europe	europe	PROPN
dem-1080	266	41	,	,	PUNCT
dem-1080	266	42	tallinn	tallinn	PROPN
dem-1080	266	43	school	school	NOUN
dem-1080	266	44	of	of	ADP
dem-1080	266	45	economics	economic	NOUN
dem-1080	266	46	and	and	CCONJ
dem-1080	266	47	business	business	NOUN
dem-1080	266	48	administration	administration	PROPN
dem-1080	266	49	of	of	ADP
dem-1080	266	50	tallinn	tallinn	PROPN
dem-1080	266	51	university	university	PROPN
dem-1080	266	52	of	of	ADP
dem-1080	266	53	technology	technology	NOUN
dem-1080	266	54	,	,	PUNCT
dem-1080	266	55	3(2	3(2	NUM
dem-1080	266	56	)	)	PUNCT
dem-1080	266	57	,	,	PUNCT
dem-1080	266	58	accepted	accept	VERB
dem-1080	266	59	for	for	ADP
dem-1080	266	60	publication	publication	NOUN
dem-1080	266	61	.	.	PUNCT
dem-1080	267	1	olbryś	olbryś	ADJ
dem-1080	267	2	,	,	PUNCT
dem-1080	267	3	j.	j.	PROPN
dem-1080	267	4	(	(	PUNCT
dem-1080	267	5	2011b	2011b	NUM
dem-1080	267	6	)	)	PUNCT
dem-1080	267	7	,	,	PUNCT
dem-1080	267	8	the	the	DET
dem-1080	267	9	intertemporal	intertemporal	PROPN
dem-1080	267	10	cross	cross	NOUN
dem-1080	267	11	price	price	NOUN
dem-1080	267	12	behavior	behavior	NOUN
dem-1080	267	13	and	and	CCONJ
dem-1080	267	14	the	the	DET
dem-1080	267	15	“	"	PUNCT
dem-1080	267	16	fisher	fisher	PROPN
dem-1080	267	17	effect	effect	NOUN
dem-1080	267	18	”	"	PUNCT
dem-1080	267	19	on	on	ADP
dem-1080	267	20	the	the	DET
dem-1080	267	21	warsaw	warsaw	PROPN
dem-1080	267	22	stock	stock	PROPN
dem-1080	267	23	exchange	exchange	PROPN
dem-1080	267	24	,	,	PUNCT
dem-1080	267	25	ekonometria	ekonometria	PROPN
dem-1080	267	26	31	31	NUM
dem-1080	267	27	.	.	PUNCT
dem-1080	267	28	theory	theory	NOUN
dem-1080	267	29	and	and	CCONJ
dem-1080	267	30	applications	application	NOUN
dem-1080	267	31	of	of	ADP
dem-1080	267	32	quantitative	quantitative	ADJ
dem-1080	267	33	methods	method	NOUN
dem-1080	267	34	.	.	PUNCT
dem-1080	268	1	prace	prace	PROPN
dem-1080	268	2	naukowe	naukowe	PROPN
dem-1080	268	3	uniwersytetu	uniwersytetu	PROPN
dem-1080	268	4	ekonomicznego	ekonomicznego	NOUN
dem-1080	268	5	we	we	PRON
dem-1080	268	6	wrocławiu	wrocławiu	VERB
dem-1080	268	7	,	,	PUNCT
dem-1080	268	8	accepted	accept	VERB
dem-1080	268	9	for	for	ADP
dem-1080	268	10	publication	publication	NOUN
dem-1080	268	11	.	.	PUNCT
dem-1080	269	1	olbryś	olbryś	ADJ
dem-1080	269	2	,	,	PUNCT
dem-1080	269	3	j.	j.	PROPN
dem-1080	269	4	(	(	PUNCT
dem-1080	269	5	2010a	2010a	NUM
dem-1080	269	6	)	)	PUNCT
dem-1080	269	7	,	,	PUNCT
dem-1080	269	8	orthogonalized	orthogonalized	ADJ
dem-1080	269	9	factors	factor	NOUN
dem-1080	269	10	in	in	ADP
dem-1080	269	11	market	market	NOUN
dem-1080	269	12	-	-	PUNCT
dem-1080	269	13	timing	timing	NOUN
dem-1080	269	14	models	model	NOUN
dem-1080	269	15	of	of	ADP
dem-1080	269	16	polish	polish	ADJ
dem-1080	269	17	equity	equity	NOUN
dem-1080	269	18	funds	fund	NOUN
dem-1080	269	19	,	,	PUNCT
dem-1080	269	20	quantitative	quantitative	ADJ
dem-1080	269	21	methods	method	NOUN
dem-1080	269	22	in	in	ADP
dem-1080	269	23	economics	economic	NOUN
dem-1080	269	24	,	,	PUNCT
dem-1080	269	25	wuls	wuls	ADJ
dem-1080	269	26	press	press	NOUN
dem-1080	269	27	,	,	PUNCT
dem-1080	269	28	11(1	11(1	NUM
dem-1080	269	29	)	)	PUNCT
dem-1080	269	30	,	,	PUNCT
dem-1080	269	31	128–138	128–138	NUM
dem-1080	269	32	.	.	PUNCT
dem-1080	270	1	olbryś	olbryś	PROPN
dem-1080	270	2	,	,	PUNCT
dem-1080	270	3	j.	j.	PROPN
dem-1080	270	4	(	(	PUNCT
dem-1080	270	5	2010b	2010b	NUM
dem-1080	270	6	)	)	PUNCT
dem-1080	270	7	,	,	PUNCT
dem-1080	270	8	three	three	NUM
dem-1080	270	9	-	-	PUNCT
dem-1080	270	10	factor	factor	NOUN
dem-1080	270	11	market	market	NOUN
dem-1080	270	12	-	-	PUNCT
dem-1080	270	13	timing	timing	NOUN
dem-1080	270	14	models	model	NOUN
dem-1080	270	15	with	with	ADP
dem-1080	270	16	fama	fama	PROPN
dem-1080	270	17	and	and	CCONJ
dem-1080	270	18	french	french	PROPN
dem-1080	270	19	’s	’s	PART
dem-1080	270	20	spread	spread	ADJ
dem-1080	270	21	variables	variable	NOUN
dem-1080	270	22	,	,	PUNCT
dem-1080	270	23	operations	operation	NOUN
dem-1080	270	24	research	research	NOUN
dem-1080	270	25	and	and	CCONJ
dem-1080	270	26	decisions	decision	NOUN
dem-1080	270	27	,	,	PUNCT
dem-1080	270	28	2/2010	2/2010	NUM
dem-1080	270	29	,	,	PUNCT
dem-1080	270	30	91–106	91–106	PROPN
dem-1080	270	31	.	.	PUNCT
dem-1080	271	1	olbryś	olbryś	PROPN
dem-1080	271	2	,	,	PUNCT
dem-1080	271	3	j.	j.	PROPN
dem-1080	271	4	(	(	PUNCT
dem-1080	271	5	2009	2009	NUM
dem-1080	271	6	)	)	PUNCT
dem-1080	271	7	,	,	PUNCT
dem-1080	271	8	conditional	conditional	ADJ
dem-1080	271	9	market	market	NOUN
dem-1080	271	10	-	-	PUNCT
dem-1080	271	11	timing	timing	NOUN
dem-1080	271	12	models	model	NOUN
dem-1080	271	13	for	for	ADP
dem-1080	271	14	mutual	mutual	ADJ
dem-1080	271	15	fund	fund	NOUN
dem-1080	271	16	performance	performance	NOUN
dem-1080	271	17	evaluation	evaluation	NOUN
dem-1080	271	18	,	,	PUNCT
dem-1080	271	19	prace	prace	PROPN
dem-1080	272	1	i	i	PRON
dem-1080	272	2	materiały	materiały	PROPN
dem-1080	272	3	wydziału	wydziału	PROPN
dem-1080	272	4	zarządzania	zarządzania	PROPN
dem-1080	272	5	uniwersytetu	uniwersytetu	PROPN
dem-1080	272	6	gdańskiego	gdańskiego	PROPN
dem-1080	272	7	,	,	PUNCT
dem-1080	272	8	4/2	4/2	NUM
dem-1080	272	9	,	,	PUNCT
dem-1080	272	10	519–532	519–532	NUM
dem-1080	272	11	.	.	PUNCT
dem-1080	273	1	romacho	romacho	PROPN
dem-1080	273	2	,	,	PUNCT
dem-1080	273	3	j.c	j.c	PROPN
dem-1080	273	4	.	.	PROPN
dem-1080	273	5	,	,	PUNCT
dem-1080	273	6	cortez	cortez	PROPN
dem-1080	273	7	,	,	PUNCT
dem-1080	273	8	m.c	m.c	PROPN
dem-1080	273	9	.	.	PROPN
dem-1080	273	10	(	(	PUNCT
dem-1080	273	11	2006	2006	NUM
dem-1080	273	12	)	)	PUNCT
dem-1080	273	13	,	,	PUNCT
dem-1080	273	14	timing	timing	NOUN
dem-1080	273	15	and	and	CCONJ
dem-1080	273	16	selectivity	selectivity	NOUN
dem-1080	273	17	in	in	ADP
dem-1080	273	18	portuguese	portuguese	ADJ
dem-1080	273	19	mutual	mutual	ADJ
dem-1080	273	20	fund	fund	NOUN
dem-1080	273	21	performance	performance	NOUN
dem-1080	273	22	,	,	PUNCT
dem-1080	273	23	research	research	NOUN
dem-1080	273	24	in	in	ADP
dem-1080	273	25	international	international	ADJ
dem-1080	273	26	business	business	NOUN
dem-1080	273	27	and	and	CCONJ
dem-1080	273	28	finance	finance	NOUN
dem-1080	273	29	,	,	PUNCT
dem-1080	273	30	20	20	NUM
dem-1080	273	31	,	,	PUNCT
dem-1080	273	32	348–368	348–368	NUM
dem-1080	273	33	.	.	PUNCT
dem-1080	274	1	scholes	schole	NOUN
dem-1080	274	2	,	,	PUNCT
dem-1080	274	3	m.	m.	NOUN
dem-1080	274	4	,	,	PUNCT
dem-1080	274	5	williams	williams	PROPN
dem-1080	274	6	,	,	PUNCT
dem-1080	274	7	j.	j.	PROPN
dem-1080	274	8	(	(	PUNCT
dem-1080	274	9	1977	1977	NUM
dem-1080	274	10	)	)	PUNCT
dem-1080	274	11	,	,	PUNCT
dem-1080	274	12	estimating	estimate	VERB
dem-1080	274	13	betas	beta	NOUN
dem-1080	274	14	from	from	ADP
dem-1080	274	15	nonsynchronous	nonsynchronous	ADJ
dem-1080	274	16	data	datum	NOUN
dem-1080	274	17	,	,	PUNCT
dem-1080	274	18	journal	journal	NOUN
dem-1080	274	19	of	of	ADP
dem-1080	274	20	financial	financial	ADJ
dem-1080	274	21	economics	economic	NOUN
dem-1080	274	22	,	,	PUNCT
dem-1080	274	23	5	5	NUM
dem-1080	274	24	,	,	PUNCT
dem-1080	274	25	309–327	309–327	NUM
dem-1080	274	26	.	.	PUNCT
dem-1080	275	1	treynor	treynor	NOUN
dem-1080	275	2	,	,	PUNCT
dem-1080	275	3	j.	j.	PROPN
dem-1080	275	4	,	,	PUNCT
dem-1080	275	5	mazuy	mazuy	PROPN
dem-1080	275	6	,	,	PUNCT
dem-1080	275	7	k.	k.	PROPN
dem-1080	275	8	(	(	PUNCT
dem-1080	275	9	1966	1966	NUM
dem-1080	275	10	)	)	PUNCT
dem-1080	275	11	,	,	PUNCT
dem-1080	275	12	can	can	AUX
dem-1080	275	13	mutual	mutual	ADJ
dem-1080	275	14	funds	fund	NOUN
dem-1080	275	15	outguess	outguess	VERB
dem-1080	275	16	the	the	DET
dem-1080	275	17	market	market	NOUN
dem-1080	275	18	?	?	PUNCT
dem-1080	275	19	,	,	PUNCT
dem-1080	275	20	harvard	harvard	PROPN
dem-1080	275	21	business	business	PROPN
dem-1080	275	22	review	review	PROPN
dem-1080	275	23	,	,	PUNCT
dem-1080	275	24	44	44	NUM
dem-1080	275	25	,	,	PUNCT
dem-1080	275	26	131–136	131–136	NUM
dem-1080	275	27	.	.	PUNCT
dem-1080	276	1	tsay	tsay	PROPN
dem-1080	276	2	,	,	PUNCT
dem-1080	276	3	r.s	r.s	PROPN
dem-1080	276	4	.	.	PROPN
dem-1080	276	5	(	(	PUNCT
dem-1080	276	6	2010	2010	NUM
dem-1080	276	7	)	)	PUNCT
dem-1080	276	8	,	,	PUNCT
dem-1080	276	9	analysis	analysis	NOUN
dem-1080	276	10	of	of	ADP
dem-1080	276	11	financial	financial	ADJ
dem-1080	276	12	time	time	NOUN
dem-1080	276	13	series	series	PROPN
dem-1080	276	14	,	,	PUNCT
dem-1080	276	15	john	john	PROPN
dem-1080	276	16	wiley	wiley	PROPN
dem-1080	276	17	,	,	PUNCT
dem-1080	276	18	new	new	PROPN
dem-1080	276	19	york	york	PROPN
dem-1080	276	20	.	.	PUNCT
dem-1080	277	1	arch	arch	ADJ
dem-1080	277	2	effect	effect	NOUN
dem-1080	277	3	in	in	ADP
dem-1080	277	4	classical	classical	ADJ
dem-1080	277	5	market	market	NOUN
dem-1080	277	6	-	-	PUNCT
dem-1080	277	7	timing	timing	NOUN
dem-1080	277	8	models	model	NOUN
dem-1080	277	9	with	with	ADP
dem-1080	277	10	lagged	lag	VERB
dem-1080	277	11	market	market	NOUN
dem-1080	277	12	variable	variable	NOUN
dem-1080	277	13	…	…	SYM
dem-1080	277	14	201	201	NUM
dem-1080	277	15	wermers	wermer	NOUN
dem-1080	277	16	,	,	PUNCT
dem-1080	277	17	r.	r.	PROPN
dem-1080	277	18	(	(	PUNCT
dem-1080	277	19	2000	2000	NUM
dem-1080	277	20	)	)	PUNCT
dem-1080	277	21	,	,	PUNCT
dem-1080	277	22	mutual	mutual	ADJ
dem-1080	277	23	fund	fund	NOUN
dem-1080	277	24	performance	performance	NOUN
dem-1080	277	25	:	:	PUNCT
dem-1080	277	26	an	an	DET
dem-1080	277	27	empirical	empirical	ADJ
dem-1080	277	28	decomposition	decomposition	NOUN
dem-1080	277	29	into	into	ADP
dem-1080	277	30	stock	stock	NOUN
dem-1080	277	31	-	-	PUNCT
dem-1080	277	32	picking	pick	VERB
dem-1080	277	33	talent	talent	NOUN
dem-1080	277	34	,	,	PUNCT
dem-1080	277	35	style	style	NOUN
dem-1080	277	36	,	,	PUNCT
dem-1080	277	37	transaction	transaction	NOUN
dem-1080	277	38	costs	cost	NOUN
dem-1080	277	39	,	,	PUNCT
dem-1080	277	40	and	and	CCONJ
dem-1080	277	41	expenses	expense	NOUN
dem-1080	277	42	.	.	PUNCT
dem-1080	278	1	the	the	DET
dem-1080	278	2	journal	journal	NOUN
dem-1080	278	3	of	of	ADP
dem-1080	278	4	finance	finance	NOUN
dem-1080	278	5	,	,	PUNCT
dem-1080	278	6	55	55	NUM
dem-1080	278	7	,	,	PUNCT
dem-1080	278	8	1655–1703	1655–1703	NOUN
dem-1080	278	9	.	.	PUNCT
dem-1080	279	1	efekt	efekt	PROPN
dem-1080	279	2	arch	arch	VERB
dem-1080	279	3	w	w	PROPN
dem-1080	279	4	klasycznych	klasycznych	PROPN
dem-1080	279	5	modelach	modelach	NOUN
dem-1080	279	6	market	market	NOUN
dem-1080	279	7	-	-	PUNCT
dem-1080	279	8	timing	time	VERB
dem-1080	279	9	z	z	NOUN
dem-1080	279	10	opóźnioną	opóźnioną	NOUN
dem-1080	279	11	zmienną	zmienną	PROPN
dem-1080	279	12	rynkową	rynkową	PROPN
dem-1080	279	13	:	:	PUNCT
dem-1080	279	14	przypadek	przypadek	NOUN
dem-1080	279	15	rynku	rynku	ADJ
dem-1080	279	16	polskiego	polskiego	PROPN
dem-1080	279	17	z	z	PROPN
dem-1080	279	18	a	a	DET
dem-1080	279	19	r	r	NOUN
dem-1080	279	20	y	y	PROPN
dem-1080	279	21	s	s	PROPN
dem-1080	279	22	t	t	NOUN
dem-1080	279	23	r	r	NOUN
dem-1080	279	24	e	e	PROPN
dem-1080	279	25	ś	ś	PROPN
dem-1080	279	26	c	c	PROPN
dem-1080	279	27	i.	i.	PROPN
dem-1080	279	28	w	w	PROPN
dem-1080	279	29	artykule	artykule	PROPN
dem-1080	279	30	przedstawiono	przedstawiono	PROPN
dem-1080	279	31	badania	badania	PROPN
dem-1080	279	32	dokumentujące	dokumentujące	PROPN
dem-1080	279	33	występowanie	występowanie	PROPN
dem-1080	279	34	efektu	efektu	PROPN
dem-1080	279	35	arch	arch	PROPN
dem-1080	279	36	w	w	PROPN
dem-1080	279	37	klasycznych	klasycznych	PROPN
dem-1080	279	38	modelach	modelach	NOUN
dem-1080	279	39	market	market	NOUN
dem-1080	279	40	-	-	PUNCT
dem-1080	279	41	timing	time	VERB
dem-1080	279	42	z	z	NOUN
dem-1080	279	43	opóźnioną	opóźnioną	NOUN
dem-1080	279	44	zmienną	zmienną	PROPN
dem-1080	279	45	rynkową	rynkową	PROPN
dem-1080	279	46	w	w	PROPN
dem-1080	279	47	przypadku	przypadku	PROPN
dem-1080	279	48	polskich	polskich	PROPN
dem-1080	279	49	funduszy	funduszy	PROPN
dem-1080	279	50	akcji	akcji	NOUN
dem-1080	279	51	,	,	PUNCT
dem-1080	279	52	w	w	PROPN
dem-1080	279	53	okresie	okresie	NOUN
dem-1080	279	54	styczeń	styczeń	PROPN
dem-1080	279	55	2003	2003	NUM
dem-1080	279	56	-	-	PUNCT
dem-1080	279	57	czerwiec	czerwiec	NOUN
dem-1080	279	58	2011	2011	NUM
dem-1080	279	59	.	.	PUNCT
dem-1080	280	1	dokonano	dokonano	PROPN
dem-1080	280	2	estymacji	estymacji	PROPN
dem-1080	280	3	wersji	wersji	PROPN
dem-1080	280	4	garch	garch	PROPN
dem-1080	280	5	odpowiednich	odpowiednich	NOUN
dem-1080	280	6	modeli	modeli	PROPN
dem-1080	280	7	oraz	oraz	PROPN
dem-1080	280	8	porównano	porównano	PROPN
dem-1080	280	9	jakość	jakość	PROPN
dem-1080	280	10	modeli	modeli	PROPN
dem-1080	280	11	garch	garch	NOUN
dem-1080	281	1	i	i	PRON
dem-1080	281	2	modeli	modeli	PROPN
dem-1080	281	3	uzyskanych	uzyskanych	PROPN
dem-1080	281	4	metodą	metodą	PROPN
dem-1080	281	5	hac	hac	PROPN
dem-1080	281	6	.	.	PROPN
dem-1080	282	1	wyniki	wyniki	PROPN
dem-1080	282	2	wskazują	wskazują	PROPN
dem-1080	282	3	,	,	PUNCT
dem-1080	282	4	że	że	PROPN
dem-1080	282	5	modele	modele	PROPN
dem-1080	282	6	garch	garch	PROPN
dem-1080	282	7	są	są	PROPN
dem-1080	282	8	odpowiednie	odpowiednie	PROPN
dem-1080	282	9	,	,	PUNCT
dem-1080	282	10	ale	ale	PROPN
dem-1080	282	11	metoda	metoda	PROPN
dem-1080	282	12	hac	hac	PROPN
dem-1080	282	13	jest	jest	PROPN
dem-1080	282	14	wystarczająca	wystarczająca	PROPN
dem-1080	282	15	,	,	PUNCT
dem-1080	282	16	pomimo	pomimo	PROPN
dem-1080	282	17	występowania	występowania	PROPN
dem-1080	282	18	efektu	efektu	PROPN
dem-1080	282	19	arch	arch	NOUN
dem-1080	282	20	.	.	PUNCT
dem-1080	283	1	podano	podano	PROPN
dem-1080	283	2	również	również	PROPN
dem-1080	283	3	interpretacje	interpretacje	PROPN
dem-1080	283	4	parametrów	parametrów	PROPN
dem-1080	283	5	otrzymanych	otrzymanych	PROPN
dem-1080	283	6	modeli	modeli	PROPN
dem-1080	283	7	w	w	PROPN
dem-1080	283	8	badanej	badanej	PROPN
dem-1080	283	9	grupie	grupie	PROPN
dem-1080	283	10	funduszy	funduszy	PROPN
dem-1080	283	11	.	.	PUNCT
dem-1080	284	1	s	s	PART
dem-1080	284	2	ł	ł	PROPN
dem-1080	284	3	o	o	X
dem-1080	284	4	w	w	NOUN
dem-1080	284	5	a	a	DET
dem-1080	284	6	k	k	X
dem-1080	284	7	l	l	NOUN
dem-1080	284	8	u	u	NOUN
dem-1080	285	1	c	c	NOUN
dem-1080	285	2	z	z	NOUN
dem-1080	285	3	o	o	X
dem-1080	285	4	w	w	PROPN
dem-1080	286	1	e	e	NOUN
dem-1080	286	2	:	:	PUNCT
dem-1080	286	3	model	model	NOUN
dem-1080	286	4	market	market	NOUN
dem-1080	286	5	-	-	PUNCT
dem-1080	286	6	timing	timing	NOUN
dem-1080	286	7	,	,	PUNCT
dem-1080	286	8	niesynchroniczne	niesynchroniczne	PROPN
dem-1080	286	9	transakcje	transakcje	PROPN
dem-1080	286	10	,	,	PUNCT
dem-1080	286	11	efekt	efekt	NOUN
dem-1080	286	12	arch	arch	VERB
dem-1080	286	13	,	,	PUNCT
dem-1080	286	14	model	model	NOUN
dem-1080	286	15	garch	garch	NOUN
dem-1080	286	16	.	.	PUNCT