id	sid	tid	token	lemma	pos
dem-11741	1	1	2016	2016	NUM
dem-11741	1	2	nicolaus	nicolaus	PROPN
dem-11741	1	3	copernicus	copernicus	PROPN
dem-11741	1	4	university	university	PROPN
dem-11741	1	5	.	.	PUNCT
dem-11741	2	1	all	all	DET
dem-11741	2	2	rights	right	NOUN
dem-11741	2	3	reserved	reserve	VERB
dem-11741	2	4	.	.	PUNCT
dem-11741	3	1	http://www.dem.umk.pl/dem	http://www.dem.umk.pl/dem	PROPN
dem-11741	4	1	d	d	PUNCT
dem-11741	4	2	y	y	PROPN
dem-11741	4	3	n	n	PROPN
dem-11741	4	4	a	a	PRON
dem-11741	4	5	m	m	VERB
dem-11741	5	1	i	i	NOUN
dem-11741	5	2	c	c	NOUN
dem-11741	5	3	e	e	NOUN
dem-11741	5	4	c	c	NOUN
dem-11741	5	5	o	o	X
dem-11741	6	1	n	n	INTJ
dem-11741	6	2	o	o	NOUN
dem-11741	6	3	m	m	VERB
dem-11741	7	1	e	e	NOUN
dem-11741	7	2	t	t	NOUN
dem-11741	7	3	r	r	NOUN
dem-11741	7	4	i	i	NOUN
dem-11741	7	5	c	c	NOUN
dem-11741	7	6	m	m	VERB
dem-11741	7	7	o	o	NOUN
dem-11741	7	8	d	d	X
dem-11741	7	9	e	e	X
dem-11741	7	10	l	l	NOUN
dem-11741	7	11	s	s	X
dem-11741	7	12	doi	doi	NOUN
dem-11741	7	13	:	:	PUNCT
dem-11741	7	14	http://dx.doi.org/10.12775/dem.2016.006	http://dx.doi.org/10.12775/dem.2016.006	ADJ
dem-11741	7	15	vol	vol	NOUN
dem-11741	7	16	.	.	PUNCT
dem-11741	8	1	16	16	NUM
dem-11741	8	2	(	(	PUNCT
dem-11741	8	3	2016	2016	NUM
dem-11741	8	4	)	)	PUNCT
dem-11741	8	5	87−116	87−116	NUM
dem-11741	8	6	submitted	submit	VERB
dem-11741	8	7	november	november	PROPN
dem-11741	8	8	30	30	NUM
dem-11741	8	9	,	,	PUNCT
dem-11741	8	10	2016	2016	NUM
dem-11741	8	11	issn	issn	X
dem-11741	8	12	(	(	PUNCT
dem-11741	8	13	online	online	ADJ
dem-11741	8	14	)	)	PUNCT
dem-11741	8	15	2450	2450	NUM
dem-11741	8	16	-	-	SYM
dem-11741	8	17	7067	7067	NUM
dem-11741	8	18	accepted	accept	VERB
dem-11741	8	19	december	december	PROPN
dem-11741	8	20	18	18	NUM
dem-11741	8	21	,	,	PUNCT
dem-11741	8	22	2016	2016	NUM
dem-11741	8	23	issn	issn	PROPN
dem-11741	8	24	(	(	PUNCT
dem-11741	8	25	print	print	NOUN
dem-11741	8	26	)	)	PUNCT
dem-11741	8	27	1234	1234	NUM
dem-11741	8	28	-	-	SYM
dem-11741	8	29	3862	3862	NUM
dem-11741	8	30	aneta	aneta	PROPN
dem-11741	8	31	włodarczyk	włodarczyk	PROPN
dem-11741	8	32	,	,	PUNCT
dem-11741	8	33	iwona	iwona	NOUN
dem-11741	8	34	otola	otola	PROPN
dem-11741	8	35	*	*	PUNCT
dem-11741	8	36	analysis	analysis	NOUN
dem-11741	8	37	of	of	ADP
dem-11741	8	38	the	the	DET
dem-11741	8	39	relationship	relationship	NOUN
dem-11741	8	40	between	between	ADP
dem-11741	8	41	market	market	NOUN
dem-11741	8	42	volatility	volatility	NOUN
dem-11741	8	43	and	and	CCONJ
dem-11741	8	44	firms	firm	NOUN
dem-11741	8	45	volatility	volatility	NOUN
dem-11741	8	46	on	on	ADP
dem-11741	8	47	the	the	DET
dem-11741	8	48	polish	polish	ADJ
dem-11741	8	49	capital	capital	NOUN
dem-11741	8	50	market	market	NOUN
dem-11741	8	51	a	a	DET
dem-11741	8	52	b	b	PROPN
dem-11741	8	53	s	s	ADP
dem-11741	8	54	t	t	PROPN
dem-11741	8	55	r	r	NOUN
dem-11741	8	56	a	a	DET
dem-11741	8	57	c	c	NOUN
dem-11741	8	58	t.	t.	NOUN
dem-11741	8	59	in	in	ADP
dem-11741	8	60	this	this	DET
dem-11741	8	61	paper	paper	NOUN
dem-11741	8	62	we	we	PRON
dem-11741	8	63	investigate	investigate	VERB
dem-11741	8	64	if	if	SCONJ
dem-11741	8	65	the	the	DET
dem-11741	8	66	strength	strength	NOUN
dem-11741	8	67	of	of	ADP
dem-11741	8	68	firm	firm	ADJ
dem-11741	8	69	-	-	PUNCT
dem-11741	8	70	market	market	NOUN
dem-11741	8	71	volatility	volatility	NOUN
dem-11741	8	72	relationship	relationship	NOUN
dem-11741	8	73	has	have	AUX
dem-11741	8	74	changed	change	VERB
dem-11741	8	75	after	after	ADP
dem-11741	8	76	subprime	subprime	ADJ
dem-11741	8	77	crisis	crisis	NOUN
dem-11741	8	78	on	on	ADP
dem-11741	8	79	the	the	DET
dem-11741	8	80	polish	polish	ADJ
dem-11741	8	81	capital	capital	NOUN
dem-11741	8	82	market	market	NOUN
dem-11741	8	83	.	.	PUNCT
dem-11741	9	1	the	the	DET
dem-11741	9	2	empirical	empirical	ADJ
dem-11741	9	3	study	study	NOUN
dem-11741	9	4	concern	concern	NOUN
dem-11741	9	5	the	the	DET
dem-11741	9	6	selected	select	VERB
dem-11741	9	7	companies	company	NOUN
dem-11741	9	8	listed	list	VERB
dem-11741	9	9	on	on	ADP
dem-11741	9	10	the	the	DET
dem-11741	9	11	warsaw	warsaw	PROPN
dem-11741	9	12	stock	stock	PROPN
dem-11741	9	13	exchange	exchange	PROPN
dem-11741	9	14	(	(	PUNCT
dem-11741	9	15	wse	wse	PROPN
dem-11741	9	16	)	)	PUNCT
dem-11741	9	17	from	from	ADP
dem-11741	9	18	the	the	DET
dem-11741	9	19	construction	construction	NOUN
dem-11741	9	20	and	and	CCONJ
dem-11741	9	21	it	it	PRON
dem-11741	9	22	sectors	sector	NOUN
dem-11741	9	23	in	in	ADP
dem-11741	9	24	the	the	DET
dem-11741	9	25	2004–2011	2004–2011	NUM
dem-11741	9	26	period	period	NOUN
dem-11741	9	27	.	.	PUNCT
dem-11741	10	1	the	the	DET
dem-11741	10	2	volatility	volatility	NOUN
dem-11741	10	3	measures	measure	NOUN
dem-11741	10	4	were	be	AUX
dem-11741	10	5	computed	compute	VERB
dem-11741	10	6	on	on	ADP
dem-11741	10	7	the	the	DET
dem-11741	10	8	basis	basis	NOUN
dem-11741	10	9	of	of	ADP
dem-11741	10	10	daily	daily	ADJ
dem-11741	10	11	low	low	ADJ
dem-11741	10	12	and	and	CCONJ
dem-11741	10	13	high	high	ADJ
dem-11741	10	14	prices	price	NOUN
dem-11741	10	15	for	for	ADP
dem-11741	10	16	companies	company	NOUN
dem-11741	10	17	shares	share	NOUN
dem-11741	10	18	and	and	CCONJ
dem-11741	10	19	wig	wig	NOUN
dem-11741	10	20	index	index	NOUN
dem-11741	10	21	.	.	PUNCT
dem-11741	11	1	for	for	ADP
dem-11741	11	2	each	each	DET
dem-11741	11	3	company	company	NOUN
dem-11741	11	4	arfimax	arfimax	NOUN
dem-11741	11	5	-	-	PUNCT
dem-11741	11	6	figarch	figarch	NOUN
dem-11741	11	7	model	model	NOUN
dem-11741	11	8	with	with	ADP
dem-11741	11	9	additional	additional	ADJ
dem-11741	11	10	exogenous	exogenous	ADJ
dem-11741	11	11	variables	variable	NOUN
dem-11741	11	12	,	,	PUNCT
dem-11741	11	13	which	which	PRON
dem-11741	11	14	represented	represent	VERB
dem-11741	11	15	market	market	NOUN
dem-11741	11	16	volatility	volatility	NOUN
dem-11741	11	17	,	,	PUNCT
dem-11741	11	18	was	be	AUX
dem-11741	11	19	estimated	estimate	VERB
dem-11741	11	20	in	in	ADP
dem-11741	11	21	the	the	DET
dem-11741	11	22	stable	stable	NOUN
dem-11741	11	23	and	and	CCONJ
dem-11741	11	24	the	the	DET
dem-11741	11	25	turbulent	turbulent	ADJ
dem-11741	11	26	period	period	NOUN
dem-11741	11	27	.	.	PUNCT
dem-11741	12	1	conducted	conduct	VERB
dem-11741	12	2	empirical	empirical	ADJ
dem-11741	12	3	studies	study	NOUN
dem-11741	12	4	have	have	AUX
dem-11741	12	5	not	not	PART
dem-11741	12	6	shown	show	VERB
dem-11741	12	7	that	that	SCONJ
dem-11741	12	8	the	the	DET
dem-11741	12	9	negative	negative	ADJ
dem-11741	12	10	shocks	shock	NOUN
dem-11741	12	11	flowing	flow	VERB
dem-11741	12	12	from	from	ADP
dem-11741	12	13	the	the	DET
dem-11741	12	14	american	american	ADJ
dem-11741	12	15	stock	stock	NOUN
dem-11741	12	16	market	market	NOUN
dem-11741	12	17	through	through	ADP
dem-11741	12	18	investors	investor	NOUN
dem-11741	12	19	'	'	PART
dem-11741	12	20	behavior	behavior	NOUN
dem-11741	12	21	channel	channel	NOUN
dem-11741	12	22	contributed	contribute	VERB
dem-11741	12	23	to	to	ADP
dem-11741	12	24	the	the	DET
dem-11741	12	25	increase	increase	NOUN
dem-11741	12	26	in	in	ADP
dem-11741	12	27	the	the	DET
dem-11741	12	28	fraction	fraction	NOUN
dem-11741	12	29	of	of	ADP
dem-11741	12	30	firms	firm	NOUN
dem-11741	12	31	of	of	ADP
dem-11741	12	32	the	the	DET
dem-11741	12	33	construction	construction	NOUN
dem-11741	12	34	and	and	CCONJ
dem-11741	12	35	it	it	PRON
dem-11741	12	36	sectors	sector	NOUN
dem-11741	12	37	listed	list	VERB
dem-11741	12	38	on	on	ADP
dem-11741	12	39	the	the	DET
dem-11741	12	40	wse	wse	NOUN
dem-11741	12	41	whose	whose	DET
dem-11741	12	42	volatility	volatility	NOUN
dem-11741	12	43	is	be	AUX
dem-11741	12	44	shaped	shape	VERB
dem-11741	12	45	by	by	ADP
dem-11741	12	46	market	market	NOUN
dem-11741	12	47	volatility	volatility	NOUN
dem-11741	12	48	.	.	PUNCT
dem-11741	13	1	k	k	PROPN
dem-11741	13	2	e	e	PROPN
dem-11741	13	3	y	y	PROPN
dem-11741	13	4	w	w	NOUN
dem-11741	13	5	o	o	NOUN
dem-11741	13	6	r	r	NOUN
dem-11741	13	7	d	d	PROPN
dem-11741	13	8	s	s	NOUN
dem-11741	13	9	:	:	PUNCT
dem-11741	13	10	arfimax	arfimax	ADJ
dem-11741	13	11	-	-	PUNCT
dem-11741	13	12	figarch	figarch	NOUN
dem-11741	13	13	,	,	PUNCT
dem-11741	13	14	firm	firm	ADJ
dem-11741	13	15	volatility	volatility	NOUN
dem-11741	13	16	,	,	PUNCT
dem-11741	13	17	market	market	NOUN
dem-11741	13	18	volatility	volatility	NOUN
dem-11741	13	19	,	,	PUNCT
dem-11741	13	20	subprime	subprime	ADJ
dem-11741	13	21	crisis	crisis	NOUN
dem-11741	13	22	,	,	PUNCT
dem-11741	13	23	warsaw	warsaw	PROPN
dem-11741	13	24	stock	stock	PROPN
dem-11741	13	25	exchange	exchange	PROPN
dem-11741	13	26	.	.	PUNCT
dem-11741	14	1	j	j	PROPN
dem-11741	14	2	e	e	PROPN
dem-11741	14	3	l	l	PROPN
dem-11741	14	4	classification	classification	NOUN
dem-11741	14	5	:	:	PUNCT
dem-11741	14	6	g12	g12	NOUN
dem-11741	14	7	;	;	PUNCT
dem-11741	14	8	d40	d40	ADJ
dem-11741	14	9	;	;	PUNCT
dem-11741	15	1	c58	c58	PROPN
dem-11741	15	2	.	.	PUNCT
dem-11741	16	1	introduction	introduction	NOUN
dem-11741	16	2	volatility	volatility	NOUN
dem-11741	16	3	of	of	ADP
dem-11741	16	4	prices	price	NOUN
dem-11741	16	5	of	of	ADP
dem-11741	16	6	listed	list	VERB
dem-11741	16	7	companies	company	NOUN
dem-11741	16	8	shares	share	NOUN
dem-11741	16	9	is	be	AUX
dem-11741	16	10	the	the	DET
dem-11741	16	11	subject	subject	NOUN
dem-11741	16	12	of	of	ADP
dem-11741	16	13	interest	interest	NOUN
dem-11741	16	14	not	not	PART
dem-11741	16	15	only	only	ADV
dem-11741	16	16	to	to	ADP
dem-11741	16	17	stock	stock	NOUN
dem-11741	16	18	exchange	exchange	NOUN
dem-11741	16	19	investors	investor	NOUN
dem-11741	16	20	but	but	CCONJ
dem-11741	16	21	also	also	ADV
dem-11741	16	22	companies	company	NOUN
dem-11741	16	23	which	which	PRON
dem-11741	16	24	emit	emit	VERB
dem-11741	16	25	them	they	PRON
dem-11741	16	26	.	.	PUNCT
dem-11741	17	1	high	high	ADJ
dem-11741	17	2	volatility	volatility	NOUN
dem-11741	17	3	means	mean	VERB
dem-11741	17	4	high	high	ADJ
dem-11741	17	5	probability	probability	NOUN
dem-11741	17	6	of	of	ADP
dem-11741	17	7	change	change	NOUN
dem-11741	17	8	of	of	ADP
dem-11741	17	9	company	company	NOUN
dem-11741	17	10	market	market	NOUN
dem-11741	17	11	value	value	NOUN
dem-11741	17	12	in	in	ADP
dem-11741	17	13	the	the	DET
dem-11741	17	14	future	future	NOUN
dem-11741	17	15	and	and	CCONJ
dem-11741	17	16	this	this	PRON
dem-11741	17	17	in	in	ADP
dem-11741	17	18	turn	turn	NOUN
dem-11741	17	19	influences	influence	VERB
dem-11741	17	20	its	its	PRON
dem-11741	17	21	competitiveness	competitiveness	NOUN
dem-11741	17	22	on	on	ADP
dem-11741	17	23	the	the	DET
dem-11741	17	24	market	market	NOUN
dem-11741	17	25	.	.	PUNCT
dem-11741	18	1	this	this	PRON
dem-11741	18	2	is	be	AUX
dem-11741	18	3	*	*	PUNCT
dem-11741	18	4	correspondence	correspondence	NOUN
dem-11741	18	5	to	to	ADP
dem-11741	18	6	:	:	PUNCT
dem-11741	18	7	aneta	aneta	PROPN
dem-11741	18	8	włodarczyk	włodarczyk	PROPN
dem-11741	18	9	,	,	PUNCT
dem-11741	18	10	czestochowa	czestochowa	PROPN
dem-11741	18	11	university	university	PROPN
dem-11741	18	12	of	of	ADP
dem-11741	18	13	technology	technology	NOUN
dem-11741	18	14	,	,	PUNCT
dem-11741	18	15	faculty	faculty	NOUN
dem-11741	18	16	of	of	ADP
dem-11741	18	17	management	management	NOUN
dem-11741	18	18	,	,	PUNCT
dem-11741	18	19	36b	36b	NUM
dem-11741	18	20	armii	armii	NOUN
dem-11741	18	21	krajowej	krajowej	VERB
dem-11741	18	22	street	street	NOUN
dem-11741	18	23	,	,	PUNCT
dem-11741	18	24	42	42	NUM
dem-11741	18	25	-	-	SYM
dem-11741	18	26	200	200	NUM
dem-11741	18	27	częstochowa	częstochowa	NOUN
dem-11741	18	28	,	,	PUNCT
dem-11741	18	29	poland	poland	PROPN
dem-11741	18	30	,	,	PUNCT
dem-11741	18	31	e	e	NOUN
dem-11741	18	32	-	-	NOUN
dem-11741	18	33	mail	mail	NOUN
dem-11741	18	34	:	:	PUNCT
dem-11741	18	35	aneta.w@interia.pl	aneta.w@interia.pl	PROPN
dem-11741	18	36	;	;	PUNCT
dem-11741	18	37	iwona	iwona	PROPN
dem-11741	18	38	otola	otola	PROPN
dem-11741	18	39	,	,	PUNCT
dem-11741	18	40	czestochowa	czestochowa	PROPN
dem-11741	18	41	university	university	PROPN
dem-11741	18	42	of	of	ADP
dem-11741	18	43	technology	technology	NOUN
dem-11741	18	44	,	,	PUNCT
dem-11741	18	45	faculty	faculty	NOUN
dem-11741	18	46	of	of	ADP
dem-11741	18	47	management	management	NOUN
dem-11741	18	48	,	,	PUNCT
dem-11741	18	49	19b	19b	NOUN
dem-11741	18	50	armii	armii	PROPN
dem-11741	18	51	krajowej	krajowej	VERB
dem-11741	18	52	street	street	NOUN
dem-11741	18	53	,	,	PUNCT
dem-11741	18	54	42	42	NUM
dem-11741	18	55	-	-	SYM
dem-11741	18	56	200	200	NUM
dem-11741	18	57	częstochowa	częstochowa	NOUN
dem-11741	18	58	,	,	PUNCT
dem-11741	18	59	poland	poland	PROPN
dem-11741	18	60	,	,	PUNCT
dem-11741	18	61	iwotola@gmail.com	iwotola@gmail.com	PROPN
dem-11741	18	62	.	.	PUNCT
dem-11741	18	63	włodarczyk	włodarczyk	PROPN
dem-11741	18	64	,	,	PUNCT
dem-11741	18	65	otola	otola	PROPN
dem-11741	18	66	dynamic	dynamic	ADJ
dem-11741	18	67	econometric	econometric	ADJ
dem-11741	18	68	models	model	NOUN
dem-11741	18	69	16	16	NUM
dem-11741	18	70	(	(	PUNCT
dem-11741	18	71	2016	2016	NUM
dem-11741	18	72	)	)	PUNCT
dem-11741	19	1	87–116	87–116	PROPN
dem-11741	19	2	88	88	NUM
dem-11741	19	3	connected	connect	VERB
dem-11741	19	4	with	with	ADP
dem-11741	19	5	the	the	DET
dem-11741	19	6	fact	fact	NOUN
dem-11741	19	7	that	that	SCONJ
dem-11741	19	8	high	high	ADJ
dem-11741	19	9	market	market	NOUN
dem-11741	19	10	value	value	NOUN
dem-11741	19	11	of	of	ADP
dem-11741	19	12	an	an	DET
dem-11741	19	13	enterprise	enterprise	NOUN
dem-11741	19	14	in	in	ADP
dem-11741	19	15	relation	relation	NOUN
dem-11741	19	16	to	to	ADP
dem-11741	19	17	its	its	PRON
dem-11741	19	18	book	book	NOUN
dem-11741	19	19	value	value	NOUN
dem-11741	19	20	is	be	AUX
dem-11741	19	21	connected	connect	VERB
dem-11741	19	22	with	with	ADP
dem-11741	19	23	a	a	DET
dem-11741	19	24	simultaneous	simultaneous	ADJ
dem-11741	19	25	high	high	ADJ
dem-11741	19	26	market	market	NOUN
dem-11741	19	27	share	share	NOUN
dem-11741	19	28	of	of	ADP
dem-11741	19	29	a	a	DET
dem-11741	19	30	given	give	VERB
dem-11741	19	31	subject	subject	NOUN
dem-11741	19	32	(	(	PUNCT
dem-11741	19	33	grabowska	grabowska	NOUN
dem-11741	19	34	,	,	PUNCT
dem-11741	19	35	2013	2013	NUM
dem-11741	19	36	)	)	PUNCT
dem-11741	19	37	.	.	PUNCT
dem-11741	20	1	enterprise	enterprise	NOUN
dem-11741	20	2	competitiveness	competitiveness	NOUN
dem-11741	20	3	depends	depend	VERB
dem-11741	20	4	,	,	PUNCT
dem-11741	20	5	among	among	ADP
dem-11741	20	6	others	other	NOUN
dem-11741	20	7	,	,	PUNCT
dem-11741	20	8	on	on	ADP
dem-11741	20	9	the	the	DET
dem-11741	20	10	value	value	NOUN
dem-11741	20	11	for	for	ADP
dem-11741	20	12	the	the	DET
dem-11741	20	13	shareholders	shareholder	NOUN
dem-11741	20	14	and	and	CCONJ
dem-11741	20	15	clients	client	NOUN
dem-11741	20	16	,	,	PUNCT
dem-11741	20	17	financial	financial	ADJ
dem-11741	20	18	capability	capability	NOUN
dem-11741	20	19	,	,	PUNCT
dem-11741	20	20	determining	determine	VERB
dem-11741	20	21	its	its	PRON
dem-11741	20	22	ability	ability	NOUN
dem-11741	20	23	to	to	PART
dem-11741	20	24	act	act	VERB
dem-11741	20	25	and	and	CCONJ
dem-11741	20	26	react	react	VERB
dem-11741	20	27	quickly	quickly	ADV
dem-11741	20	28	in	in	ADP
dem-11741	20	29	the	the	DET
dem-11741	20	30	competitive	competitive	ADJ
dem-11741	20	31	environment	environment	NOUN
dem-11741	20	32	and	and	CCONJ
dem-11741	20	33	human	human	ADJ
dem-11741	20	34	potential	potential	NOUN
dem-11741	20	35	and	and	CCONJ
dem-11741	20	36	technologies	technology	NOUN
dem-11741	20	37	used	use	VERB
dem-11741	20	38	in	in	ADP
dem-11741	20	39	implementing	implement	VERB
dem-11741	20	40	strategic	strategic	ADJ
dem-11741	20	41	changes	change	NOUN
dem-11741	20	42	(	(	PUNCT
dem-11741	20	43	feurer	feurer	NOUN
dem-11741	20	44	and	and	CCONJ
dem-11741	20	45	chaharbaghi	chaharbaghi	PROPN
dem-11741	20	46	,	,	PUNCT
dem-11741	20	47	1994	1994	NUM
dem-11741	20	48	)	)	PUNCT
dem-11741	20	49	.	.	PUNCT
dem-11741	21	1	moreover	moreover	ADV
dem-11741	21	2	,	,	PUNCT
dem-11741	21	3	the	the	DET
dem-11741	21	4	knowledge	knowledge	NOUN
dem-11741	21	5	about	about	ADP
dem-11741	21	6	linkages	linkage	NOUN
dem-11741	21	7	between	between	ADP
dem-11741	21	8	market	market	NOUN
dem-11741	21	9	volatility	volatility	NOUN
dem-11741	21	10	and	and	CCONJ
dem-11741	21	11	firm	firm	ADJ
dem-11741	21	12	volatility	volatility	NOUN
dem-11741	21	13	is	be	AUX
dem-11741	21	14	of	of	ADP
dem-11741	21	15	great	great	ADJ
dem-11741	21	16	importance	importance	NOUN
dem-11741	21	17	in	in	ADP
dem-11741	21	18	risk	risk	NOUN
dem-11741	21	19	management	management	NOUN
dem-11741	21	20	process	process	NOUN
dem-11741	21	21	and	and	CCONJ
dem-11741	21	22	determining	determine	VERB
dem-11741	21	23	the	the	DET
dem-11741	21	24	investment	investment	NOUN
dem-11741	21	25	portfolio	portfolio	NOUN
dem-11741	21	26	structure	structure	NOUN
dem-11741	21	27	,	,	PUNCT
dem-11741	21	28	because	because	SCONJ
dem-11741	21	29	it	it	PRON
dem-11741	21	30	helps	help	VERB
dem-11741	21	31	to	to	PART
dem-11741	21	32	understand	understand	VERB
dem-11741	21	33	the	the	DET
dem-11741	21	34	nature	nature	NOUN
dem-11741	21	35	of	of	ADP
dem-11741	21	36	individual	individual	ADJ
dem-11741	21	37	firm	firm	ADJ
dem-11741	21	38	volatility	volatility	NOUN
dem-11741	21	39	and	and	CCONJ
dem-11741	21	40	identify	identify	VERB
dem-11741	21	41	this	this	DET
dem-11741	21	42	process	process	NOUN
dem-11741	21	43	determinants	determinant	NOUN
dem-11741	21	44	.	.	PUNCT
dem-11741	22	1	it	it	PRON
dem-11741	22	2	is	be	AUX
dem-11741	22	3	not	not	PART
dem-11741	22	4	surprising	surprising	ADJ
dem-11741	22	5	that	that	SCONJ
dem-11741	22	6	there	there	PRON
dem-11741	22	7	exist	exist	VERB
dem-11741	22	8	many	many	ADJ
dem-11741	22	9	articles	article	NOUN
dem-11741	22	10	that	that	PRON
dem-11741	22	11	were	be	AUX
dem-11741	22	12	devoted	devote	VERB
dem-11741	22	13	to	to	ADP
dem-11741	22	14	this	this	DET
dem-11741	22	15	issue	issue	NOUN
dem-11741	22	16	.	.	PUNCT
dem-11741	23	1	we	we	PRON
dem-11741	23	2	may	may	AUX
dem-11741	23	3	summarize	summarize	VERB
dem-11741	23	4	some	some	DET
dem-11741	23	5	important	important	ADJ
dem-11741	23	6	facts	fact	NOUN
dem-11741	23	7	about	about	ADP
dem-11741	23	8	firm	firm	ADJ
dem-11741	23	9	volatility	volatility	NOUN
dem-11741	23	10	on	on	ADP
dem-11741	23	11	the	the	DET
dem-11741	23	12	basis	basis	NOUN
dem-11741	23	13	of	of	ADP
dem-11741	23	14	literature	literature	NOUN
dem-11741	23	15	studies	study	NOUN
dem-11741	23	16	.	.	PUNCT
dem-11741	24	1	as	as	SCONJ
dem-11741	24	2	suggest	suggest	VERB
dem-11741	24	3	karolyi	karolyi	PROPN
dem-11741	24	4	(	(	PUNCT
dem-11741	24	5	2001	2001	NUM
dem-11741	24	6	)	)	PUNCT
dem-11741	24	7	the	the	DET
dem-11741	24	8	existence	existence	NOUN
dem-11741	24	9	of	of	ADP
dem-11741	24	10	excessive	excessive	ADJ
dem-11741	24	11	volatility	volatility	NOUN
dem-11741	24	12	in	in	ADP
dem-11741	24	13	stock	stock	NOUN
dem-11741	24	14	prices	price	NOUN
dem-11741	24	15	undermines	undermine	VERB
dem-11741	24	16	the	the	DET
dem-11741	24	17	usefulness	usefulness	NOUN
dem-11741	24	18	of	of	ADP
dem-11741	24	19	the	the	DET
dem-11741	24	20	information	information	NOUN
dem-11741	24	21	about	about	ADP
dem-11741	24	22	the	the	DET
dem-11741	24	23	true	true	ADJ
dem-11741	24	24	value	value	NOUN
dem-11741	24	25	of	of	ADP
dem-11741	24	26	the	the	DET
dem-11741	24	27	company	company	NOUN
dem-11741	24	28	.	.	PUNCT
dem-11741	25	1	this	this	PRON
dem-11741	25	2	clearly	clearly	ADV
dem-11741	25	3	does	do	AUX
dem-11741	25	4	not	not	PART
dem-11741	25	5	mean	mean	VERB
dem-11741	25	6	that	that	SCONJ
dem-11741	25	7	high	high	ADJ
dem-11741	25	8	volatility	volatility	NOUN
dem-11741	25	9	is	be	AUX
dem-11741	25	10	proof	proof	NOUN
dem-11741	25	11	of	of	ADP
dem-11741	25	12	the	the	DET
dem-11741	25	13	irrational	irrational	ADJ
dem-11741	25	14	behavior	behavior	NOUN
dem-11741	25	15	and	and	CCONJ
dem-11741	25	16	inefficient	inefficient	ADJ
dem-11741	25	17	markets	market	NOUN
dem-11741	25	18	and	and	CCONJ
dem-11741	25	19	investors	investor	NOUN
dem-11741	25	20	.	.	PUNCT
dem-11741	26	1	no	no	DET
dem-11741	26	2	signals	signal	NOUN
dem-11741	26	3	from	from	ADP
dem-11741	26	4	the	the	DET
dem-11741	26	5	market	market	NOUN
dem-11741	26	6	to	to	ADP
dem-11741	26	7	volatility	volatility	NOUN
dem-11741	26	8	of	of	ADP
dem-11741	26	9	stock	stock	NOUN
dem-11741	26	10	prices	price	NOUN
dem-11741	26	11	,	,	PUNCT
dem-11741	26	12	affirms	affirm	VERB
dem-11741	26	13	the	the	DET
dem-11741	26	14	conviction	conviction	NOUN
dem-11741	26	15	that	that	SCONJ
dem-11741	26	16	it	it	PRON
dem-11741	26	17	is	be	AUX
dem-11741	26	18	the	the	DET
dem-11741	26	19	correct	correct	ADJ
dem-11741	26	20	measure	measure	NOUN
dem-11741	26	21	of	of	ADP
dem-11741	26	22	risk	risk	NOUN
dem-11741	26	23	.	.	PUNCT
dem-11741	27	1	interest	interest	NOUN
dem-11741	27	2	in	in	ADP
dem-11741	27	3	the	the	DET
dem-11741	27	4	subject	subject	ADJ
dem-11741	27	5	matter	matter	NOUN
dem-11741	27	6	of	of	ADP
dem-11741	27	7	volatility	volatility	NOUN
dem-11741	27	8	,	,	PUNCT
dem-11741	27	9	in	in	ADP
dem-11741	27	10	particular	particular	ADJ
dem-11741	27	11	,	,	PUNCT
dem-11741	27	12	the	the	DET
dem-11741	27	13	possibility	possibility	NOUN
dem-11741	27	14	of	of	ADP
dem-11741	27	15	its	its	PRON
dem-11741	27	16	forecasting	forecasting	NOUN
dem-11741	27	17	is	be	AUX
dem-11741	27	18	related	relate	VERB
dem-11741	27	19	to	to	ADP
dem-11741	27	20	the	the	DET
dem-11741	27	21	ability	ability	NOUN
dem-11741	27	22	to	to	PART
dem-11741	27	23	reduce	reduce	VERB
dem-11741	27	24	the	the	DET
dem-11741	27	25	risk	risk	NOUN
dem-11741	27	26	of	of	ADP
dem-11741	27	27	investment	investment	NOUN
dem-11741	27	28	or	or	CCONJ
dem-11741	27	29	achieving	achieve	VERB
dem-11741	27	30	higher	high	ADJ
dem-11741	27	31	returns	return	NOUN
dem-11741	27	32	from	from	ADP
dem-11741	27	33	investments	investment	NOUN
dem-11741	27	34	.	.	PUNCT
dem-11741	28	1	in	in	ADP
dem-11741	28	2	the	the	DET
dem-11741	28	3	literature	literature	NOUN
dem-11741	28	4	,	,	PUNCT
dem-11741	28	5	there	there	PRON
dem-11741	28	6	are	be	VERB
dem-11741	28	7	already	already	ADV
dem-11741	28	8	several	several	ADJ
dem-11741	28	9	well	well	ADV
dem-11741	28	10	-	-	PUNCT
dem-11741	28	11	documented	document	VERB
dem-11741	28	12	facts	fact	NOUN
dem-11741	28	13	concerning	concern	VERB
dem-11741	28	14	volatility	volatility	NOUN
dem-11741	28	15	.	.	PUNCT
dem-11741	29	1	chen	chen	PROPN
dem-11741	29	2	and	and	CCONJ
dem-11741	29	3	lai	lai	PROPN
dem-11741	29	4	(	(	PUNCT
dem-11741	29	5	2013	2013	NUM
dem-11741	29	6	)	)	PUNCT
dem-11741	29	7	and	and	CCONJ
dem-11741	29	8	other	other	ADJ
dem-11741	29	9	researchers	researcher	NOUN
dem-11741	29	10	(	(	PUNCT
dem-11741	29	11	whaley	whaley	NOUN
dem-11741	29	12	,	,	PUNCT
dem-11741	29	13	2009	2009	NUM
dem-11741	29	14	;	;	PUNCT
dem-11741	29	15	simon	simon	PROPN
dem-11741	29	16	,	,	PUNCT
dem-11741	29	17	2003	2003	NUM
dem-11741	29	18	;	;	PUNCT
dem-11741	29	19	giot	giot	NOUN
dem-11741	29	20	,	,	PUNCT
dem-11741	29	21	2005	2005	NUM
dem-11741	29	22	;	;	PUNCT
dem-11741	29	23	peng	peng	PROPN
dem-11741	29	24	and	and	CCONJ
dem-11741	29	25	ng	ng	PROPN
dem-11741	29	26	,	,	PUNCT
dem-11741	29	27	2012	2012	NUM
dem-11741	29	28	)	)	PUNCT
dem-11741	29	29	showed	show	VERB
dem-11741	29	30	a	a	DET
dem-11741	29	31	significant	significant	ADJ
dem-11741	29	32	feature	feature	NOUN
dem-11741	29	33	,	,	PUNCT
dem-11741	29	34	which	which	PRON
dem-11741	29	35	is	be	AUX
dem-11741	29	36	the	the	DET
dem-11741	29	37	asymmetry	asymmetry	NOUN
dem-11741	29	38	of	of	ADP
dem-11741	29	39	volatility	volatility	NOUN
dem-11741	29	40	.	.	PUNCT
dem-11741	30	1	shin	shin	NOUN
dem-11741	30	2	and	and	CCONJ
dem-11741	30	3	stulz	stulz	ADJ
dem-11741	30	4	(	(	PUNCT
dem-11741	30	5	2000	2000	NUM
dem-11741	30	6	)	)	PUNCT
dem-11741	30	7	decomposed	decompose	VERB
dem-11741	30	8	shares	share	NOUN
dem-11741	30	9	risk	risk	NOUN
dem-11741	30	10	into	into	ADP
dem-11741	30	11	its	its	PRON
dem-11741	30	12	market	market	NOUN
dem-11741	30	13	and	and	CCONJ
dem-11741	30	14	firmspecific	firmspecific	VERB
dem-11741	30	15	components	component	NOUN
dem-11741	30	16	in	in	ADP
dem-11741	30	17	order	order	NOUN
dem-11741	30	18	to	to	PART
dem-11741	30	19	show	show	VERB
dem-11741	30	20	that	that	SCONJ
dem-11741	30	21	changes	change	NOUN
dem-11741	30	22	in	in	ADP
dem-11741	30	23	market	market	NOUN
dem-11741	30	24	risk	risk	NOUN
dem-11741	30	25	are	be	AUX
dem-11741	30	26	positively	positively	ADV
dem-11741	30	27	correlated	correlate	VERB
dem-11741	30	28	with	with	ADP
dem-11741	30	29	changes	change	NOUN
dem-11741	30	30	in	in	ADP
dem-11741	30	31	firm	firm	ADJ
dem-11741	30	32	value	value	NOUN
dem-11741	30	33	,	,	PUNCT
dem-11741	30	34	but	but	CCONJ
dem-11741	30	35	changes	change	NOUN
dem-11741	30	36	in	in	ADP
dem-11741	30	37	firmspecific	firmspecific	ADJ
dem-11741	30	38	risk	risk	NOUN
dem-11741	30	39	are	be	AUX
dem-11741	30	40	negatively	negatively	ADV
dem-11741	30	41	correlated	correlate	VERB
dem-11741	30	42	with	with	ADP
dem-11741	30	43	changes	change	NOUN
dem-11741	30	44	in	in	ADP
dem-11741	30	45	firm	firm	ADJ
dem-11741	30	46	value	value	NOUN
dem-11741	30	47	.	.	PUNCT
dem-11741	31	1	campbell	campbell	PROPN
dem-11741	31	2	et	et	PROPN
dem-11741	31	3	al	al	PROPN
dem-11741	31	4	.	.	PROPN
dem-11741	32	1	(	(	PUNCT
dem-11741	32	2	2001	2001	NUM
dem-11741	32	3	)	)	PUNCT
dem-11741	32	4	used	use	VERB
dem-11741	32	5	a	a	DET
dem-11741	32	6	disaggregated	disaggregate	VERB
dem-11741	32	7	approach	approach	NOUN
dem-11741	32	8	to	to	PART
dem-11741	32	9	study	study	VERB
dem-11741	32	10	the	the	DET
dem-11741	32	11	volatility	volatility	NOUN
dem-11741	32	12	of	of	ADP
dem-11741	32	13	common	common	ADJ
dem-11741	32	14	stocks	stock	NOUN
dem-11741	32	15	at	at	ADP
dem-11741	32	16	the	the	DET
dem-11741	32	17	market	market	NOUN
dem-11741	32	18	,	,	PUNCT
dem-11741	32	19	industry	industry	NOUN
dem-11741	32	20	and	and	CCONJ
dem-11741	32	21	firm	firm	ADJ
dem-11741	32	22	level	level	NOUN
dem-11741	32	23	.	.	PUNCT
dem-11741	33	1	they	they	PRON
dem-11741	33	2	proposed	propose	VERB
dem-11741	33	3	three	three	NUM
dem-11741	33	4	variance	variance	NOUN
dem-11741	33	5	components	component	NOUN
dem-11741	33	6	,	,	PUNCT
dem-11741	33	7	which	which	PRON
dem-11741	33	8	were	be	AUX
dem-11741	33	9	estimated	estimate	VERB
dem-11741	33	10	monthly	monthly	ADV
dem-11741	33	11	using	use	VERB
dem-11741	33	12	daily	daily	ADJ
dem-11741	33	13	data	datum	NOUN
dem-11741	33	14	,	,	PUNCT
dem-11741	33	15	so	so	ADV
dem-11741	33	16	their	their	PRON
dem-11741	33	17	further	further	ADJ
dem-11741	33	18	analysis	analysis	NOUN
dem-11741	33	19	about	about	ADP
dem-11741	33	20	volatility	volatility	NOUN
dem-11741	33	21	components	component	NOUN
dem-11741	33	22	were	be	AUX
dem-11741	33	23	conducted	conduct	VERB
dem-11741	33	24	on	on	ADP
dem-11741	33	25	the	the	DET
dem-11741	33	26	basis	basis	NOUN
dem-11741	33	27	of	of	ADP
dem-11741	33	28	monthly	monthly	ADJ
dem-11741	33	29	frequency	frequency	NOUN
dem-11741	33	30	indicators	indicator	NOUN
dem-11741	33	31	and	and	CCONJ
dem-11741	33	32	for	for	ADP
dem-11741	33	33	this	this	DET
dem-11741	33	34	reason	reason	NOUN
dem-11741	33	35	they	they	PRON
dem-11741	33	36	could	could	AUX
dem-11741	33	37	not	not	PART
dem-11741	33	38	consider	consider	VERB
dem-11741	33	39	the	the	DET
dem-11741	33	40	impact	impact	NOUN
dem-11741	33	41	of	of	ADP
dem-11741	33	42	volatility	volatility	NOUN
dem-11741	33	43	clustering	cluster	VERB
dem-11741	33	44	effect	effect	NOUN
dem-11741	33	45	on	on	ADP
dem-11741	33	46	evaluation	evaluation	NOUN
dem-11741	33	47	of	of	ADP
dem-11741	33	48	risk	risk	NOUN
dem-11741	33	49	measurement	measurement	NOUN
dem-11741	33	50	process	process	NOUN
dem-11741	33	51	.	.	PUNCT
dem-11741	34	1	phylatkis	phylatki	NOUN
dem-11741	34	2	and	and	CCONJ
dem-11741	34	3	xia	xia	PROPN
dem-11741	34	4	(	(	PUNCT
dem-11741	34	5	2009	2009	NUM
dem-11741	34	6	)	)	PUNCT
dem-11741	34	7	investigated	investigate	VERB
dem-11741	34	8	the	the	DET
dem-11741	34	9	equity	equity	NOUN
dem-11741	34	10	market	market	NOUN
dem-11741	34	11	comovement	comovement	NOUN
dem-11741	34	12	at	at	ADP
dem-11741	34	13	the	the	DET
dem-11741	34	14	sector	sector	NOUN
dem-11741	34	15	level	level	NOUN
dem-11741	34	16	and	and	CCONJ
dem-11741	34	17	confirmed	confirm	VERB
dem-11741	34	18	the	the	DET
dem-11741	34	19	sector	sector	NOUN
dem-11741	34	20	heterogeneity	heterogeneity	NOUN
dem-11741	34	21	of	of	ADP
dem-11741	34	22	the	the	DET
dem-11741	34	23	contagion	contagion	NOUN
dem-11741	34	24	.	.	PUNCT
dem-11741	35	1	they	they	PRON
dem-11741	35	2	showed	show	VERB
dem-11741	35	3	that	that	SCONJ
dem-11741	35	4	investors	investor	NOUN
dem-11741	35	5	might	might	AUX
dem-11741	35	6	find	find	VERB
dem-11741	35	7	the	the	DET
dem-11741	35	8	profitable	profitable	ADJ
dem-11741	35	9	sectors	sector	NOUN
dem-11741	35	10	on	on	ADP
dem-11741	35	11	the	the	DET
dem-11741	35	12	capital	capital	NOUN
dem-11741	35	13	markets	market	NOUN
dem-11741	35	14	despite	despite	SCONJ
dem-11741	35	15	of	of	ADP
dem-11741	35	16	the	the	DET
dem-11741	35	17	prevailing	prevail	VERB
dem-11741	35	18	contagion	contagion	NOUN
dem-11741	35	19	on	on	ADP
dem-11741	35	20	the	the	DET
dem-11741	35	21	market	market	NOUN
dem-11741	35	22	level	level	NOUN
dem-11741	35	23	.	.	PUNCT
dem-11741	36	1	chuliá	chuliá	PROPN
dem-11741	36	2	and	and	CCONJ
dem-11741	36	3	torró	torró	PROPN
dem-11741	36	4	(	(	PUNCT
dem-11741	36	5	2011	2011	NUM
dem-11741	36	6	)	)	PUNCT
dem-11741	36	7	estimated	estimate	VERB
dem-11741	36	8	a	a	DET
dem-11741	36	9	conditional	conditional	ADJ
dem-11741	36	10	capm	capm	NOUN
dem-11741	36	11	with	with	ADP
dem-11741	36	12	multivariate	multivariate	NOUN
dem-11741	36	13	garch	garch	NOUN
dem-11741	36	14	-	-	PUNCT
dem-11741	36	15	m	m	NOUN
dem-11741	36	16	structure	structure	NOUN
dem-11741	36	17	in	in	ADP
dem-11741	36	18	order	order	NOUN
dem-11741	36	19	to	to	PART
dem-11741	36	20	investigate	investigate	VERB
dem-11741	36	21	an	an	DET
dem-11741	36	22	asymmetric	asymmetric	ADJ
dem-11741	36	23	volatility	volatility	NOUN
dem-11741	36	24	spillover	spillover	VERB
dem-11741	36	25	effect	effect	NOUN
dem-11741	36	26	between	between	ADP
dem-11741	36	27	analysis	analysis	NOUN
dem-11741	36	28	of	of	ADP
dem-11741	36	29	the	the	DET
dem-11741	36	30	relationship	relationship	NOUN
dem-11741	36	31	between	between	ADP
dem-11741	36	32	market	market	NOUN
dem-11741	36	33	volatility	volatility	NOUN
dem-11741	36	34	and	and	CCONJ
dem-11741	36	35	firms	firm	NOUN
dem-11741	36	36	volatility	volatility	NOUN
dem-11741	36	37	…	…	SYM
dem-11741	36	38	dynamic	dynamic	ADJ
dem-11741	36	39	econometric	econometric	ADJ
dem-11741	36	40	models	model	NOUN
dem-11741	36	41	16	16	NUM
dem-11741	36	42	(	(	PUNCT
dem-11741	36	43	2016	2016	NUM
dem-11741	36	44	)	)	PUNCT
dem-11741	37	1	87–116	87–116	NUM
dem-11741	37	2	89	89	NUM
dem-11741	37	3	large	large	ADJ
dem-11741	37	4	and	and	CCONJ
dem-11741	37	5	small	small	ADJ
dem-11741	37	6	firms	firm	NOUN
dem-11741	37	7	in	in	ADP
dem-11741	37	8	the	the	DET
dem-11741	37	9	spanish	spanish	ADJ
dem-11741	37	10	stock	stock	NOUN
dem-11741	37	11	market	market	NOUN
dem-11741	37	12	and	and	CCONJ
dem-11741	37	13	they	they	PRON
dem-11741	37	14	proved	prove	VERB
dem-11741	37	15	the	the	DET
dem-11741	37	16	existence	existence	NOUN
dem-11741	37	17	of	of	ADP
dem-11741	37	18	bidirectional	bidirectional	ADJ
dem-11741	37	19	relationship	relationship	NOUN
dem-11741	37	20	between	between	ADP
dem-11741	37	21	these	these	DET
dem-11741	37	22	volatility	volatility	NOUN
dem-11741	37	23	processes	process	NOUN
dem-11741	37	24	with	with	ADP
dem-11741	37	25	asymmetric	asymmetric	ADJ
dem-11741	37	26	influence	influence	NOUN
dem-11741	37	27	of	of	ADP
dem-11741	37	28	bad	bad	ADJ
dem-11741	37	29	and	and	CCONJ
dem-11741	37	30	good	good	ADJ
dem-11741	37	31	news	news	NOUN
dem-11741	37	32	for	for	ADP
dem-11741	37	33	firm	firm	ADJ
dem-11741	37	34	volatility	volatility	NOUN
dem-11741	37	35	.	.	PUNCT
dem-11741	38	1	sharma	sharma	PROPN
dem-11741	38	2	et	et	PROPN
dem-11741	38	3	al	al	PROPN
dem-11741	38	4	.	.	PROPN
dem-11741	38	5	(	(	PUNCT
dem-11741	38	6	2011	2011	NUM
dem-11741	38	7	,	,	PUNCT
dem-11741	38	8	2014	2014	NUM
dem-11741	38	9	)	)	PUNCT
dem-11741	38	10	showed	show	VERB
dem-11741	38	11	that	that	SCONJ
dem-11741	38	12	firms	firm	NOUN
dem-11741	38	13	belonging	belong	VERB
dem-11741	38	14	to	to	ADP
dem-11741	38	15	different	different	ADJ
dem-11741	38	16	sectors	sector	NOUN
dem-11741	38	17	experienced	experience	VERB
dem-11741	38	18	different	different	ADJ
dem-11741	38	19	degrees	degree	NOUN
dem-11741	38	20	of	of	ADP
dem-11741	38	21	association	association	NOUN
dem-11741	38	22	with	with	ADP
dem-11741	38	23	market	market	NOUN
dem-11741	38	24	volatility	volatility	NOUN
dem-11741	38	25	,	,	PUNCT
dem-11741	38	26	what	what	PRON
dem-11741	38	27	caused	cause	VERB
dem-11741	38	28	that	that	SCONJ
dem-11741	38	29	in	in	ADP
dem-11741	38	30	some	some	DET
dem-11741	38	31	cases	case	NOUN
dem-11741	38	32	firm	firm	ADJ
dem-11741	38	33	volatility	volatility	NOUN
dem-11741	38	34	might	might	AUX
dem-11741	38	35	be	be	AUX
dem-11741	38	36	predicted	predict	VERB
dem-11741	38	37	on	on	ADP
dem-11741	38	38	the	the	DET
dem-11741	38	39	basis	basis	NOUN
dem-11741	38	40	of	of	ADP
dem-11741	38	41	market	market	NOUN
dem-11741	38	42	volatility	volatility	NOUN
dem-11741	38	43	.	.	PUNCT
dem-11741	39	1	they	they	PRON
dem-11741	39	2	proved	prove	VERB
dem-11741	39	3	that	that	SCONJ
dem-11741	39	4	commonality	commonality	NOUN
dem-11741	39	5	in	in	ADP
dem-11741	39	6	volatility	volatility	NOUN
dem-11741	39	7	increases	increase	NOUN
dem-11741	39	8	with	with	ADP
dem-11741	39	9	the	the	DET
dem-11741	39	10	firm	firm	NOUN
dem-11741	39	11	's	's	PART
dem-11741	39	12	size	size	NOUN
dem-11741	39	13	.	.	PUNCT
dem-11741	40	1	sequeira	sequeira	PROPN
dem-11741	40	2	and	and	CCONJ
dem-11741	40	3	lan	lan	PROPN
dem-11741	40	4	(	(	PUNCT
dem-11741	40	5	2003	2003	NUM
dem-11741	40	6	)	)	PUNCT
dem-11741	40	7	found	find	VERB
dem-11741	40	8	that	that	SCONJ
dem-11741	40	9	,	,	PUNCT
dem-11741	40	10	the	the	DET
dem-11741	40	11	most	most	ADV
dem-11741	40	12	significant	significant	ADJ
dem-11741	40	13	component	component	NOUN
dem-11741	40	14	of	of	ADP
dem-11741	40	15	aggregate	aggregate	ADJ
dem-11741	40	16	volatility	volatility	NOUN
dem-11741	40	17	in	in	ADP
dem-11741	40	18	the	the	DET
dem-11741	40	19	international	international	ADJ
dem-11741	40	20	market	market	NOUN
dem-11741	40	21	,	,	PUNCT
dem-11741	40	22	with	with	ADP
dem-11741	40	23	firm	firm	ADJ
dem-11741	40	24	-	-	PUNCT
dem-11741	40	25	level	level	NOUN
dem-11741	40	26	volatility	volatility	NOUN
dem-11741	40	27	forming	form	VERB
dem-11741	40	28	the	the	DET
dem-11741	40	29	largest	large	ADJ
dem-11741	40	30	component	component	NOUN
dem-11741	40	31	of	of	ADP
dem-11741	40	32	total	total	ADJ
dem-11741	40	33	volatility	volatility	NOUN
dem-11741	40	34	is	be	AUX
dem-11741	40	35	unsystematic	unsystematic	ADJ
dem-11741	40	36	variance	variance	NOUN
dem-11741	40	37	of	of	ADP
dem-11741	40	38	the	the	DET
dem-11741	40	39	stock	stock	NOUN
dem-11741	40	40	return	return	NOUN
dem-11741	40	41	.	.	PUNCT
dem-11741	41	1	they	they	PRON
dem-11741	41	2	also	also	ADV
dem-11741	41	3	claim	claim	VERB
dem-11741	41	4	that	that	SCONJ
dem-11741	41	5	volatility	volatility	NOUN
dem-11741	41	6	of	of	ADP
dem-11741	41	7	the	the	DET
dem-11741	41	8	market	market	NOUN
dem-11741	41	9	-	-	PUNCT
dem-11741	41	10	level	level	NOUN
dem-11741	41	11	is	be	AUX
dem-11741	41	12	more	more	ADV
dem-11741	41	13	important	important	ADJ
dem-11741	41	14	than	than	ADP
dem-11741	41	15	the	the	DET
dem-11741	41	16	volatility	volatility	NOUN
dem-11741	41	17	of	of	ADP
dem-11741	41	18	the	the	DET
dem-11741	41	19	sector	sector	NOUN
dem-11741	41	20	-	-	PUNCT
dem-11741	41	21	level	level	NOUN
dem-11741	41	22	in	in	ADP
dem-11741	41	23	the	the	DET
dem-11741	41	24	explanation	explanation	NOUN
dem-11741	41	25	of	of	ADP
dem-11741	41	26	the	the	DET
dem-11741	41	27	total	total	ADJ
dem-11741	41	28	volatility	volatility	NOUN
dem-11741	41	29	of	of	ADP
dem-11741	41	30	stock	stock	NOUN
dem-11741	41	31	return	return	NOUN
dem-11741	41	32	,	,	PUNCT
dem-11741	41	33	which	which	PRON
dem-11741	41	34	is	be	AUX
dem-11741	41	35	also	also	ADV
dem-11741	41	36	confirmed	confirm	VERB
dem-11741	41	37	in	in	ADP
dem-11741	41	38	earlier	early	ADJ
dem-11741	41	39	research	research	NOUN
dem-11741	41	40	conducted	conduct	VERB
dem-11741	41	41	by	by	ADP
dem-11741	41	42	cavaglia	cavaglia	PROPN
dem-11741	41	43	et	et	PROPN
dem-11741	41	44	al	al	PROPN
dem-11741	41	45	.	.	PROPN
dem-11741	42	1	(	(	PUNCT
dem-11741	42	2	2000	2000	NUM
dem-11741	42	3	)	)	PUNCT
dem-11741	42	4	or	or	CCONJ
dem-11741	42	5	griffin	griffin	NOUN
dem-11741	42	6	and	and	CCONJ
dem-11741	42	7	karolyi	karolyi	NOUN
dem-11741	42	8	(	(	PUNCT
dem-11741	42	9	1998	1998	NUM
dem-11741	42	10	)	)	PUNCT
dem-11741	42	11	.	.	PUNCT
dem-11741	43	1	that	that	PRON
dem-11741	43	2	is	be	AUX
dem-11741	43	3	why	why	SCONJ
dem-11741	43	4	both	both	DET
dem-11741	43	5	managerial	managerial	ADJ
dem-11741	43	6	staff	staff	NOUN
dem-11741	43	7	in	in	ADP
dem-11741	43	8	enterprises	enterprise	NOUN
dem-11741	43	9	and	and	CCONJ
dem-11741	43	10	investors	investor	NOUN
dem-11741	43	11	should	should	AUX
dem-11741	43	12	be	be	AUX
dem-11741	43	13	interested	interested	ADJ
dem-11741	43	14	in	in	ADP
dem-11741	43	15	knowing	know	VERB
dem-11741	43	16	the	the	DET
dem-11741	43	17	strength	strength	NOUN
dem-11741	43	18	and	and	CCONJ
dem-11741	43	19	direction	direction	NOUN
dem-11741	43	20	of	of	ADP
dem-11741	43	21	relationships	relationship	NOUN
dem-11741	43	22	between	between	ADP
dem-11741	43	23	shares	share	NOUN
dem-11741	43	24	volatility	volatility	NOUN
dem-11741	43	25	of	of	ADP
dem-11741	43	26	particular	particular	ADJ
dem-11741	43	27	enterprises	enterprise	NOUN
dem-11741	43	28	and	and	CCONJ
dem-11741	43	29	stock	stock	NOUN
dem-11741	43	30	market	market	NOUN
dem-11741	43	31	volatility	volatility	NOUN
dem-11741	43	32	.	.	PUNCT
dem-11741	44	1	previous	previous	ADJ
dem-11741	44	2	studies	study	NOUN
dem-11741	44	3	on	on	ADP
dem-11741	44	4	the	the	DET
dem-11741	44	5	volatility	volatility	NOUN
dem-11741	44	6	in	in	ADP
dem-11741	44	7	the	the	DET
dem-11741	44	8	majority	majority	NOUN
dem-11741	44	9	relate	relate	VERB
dem-11741	44	10	to	to	ADP
dem-11741	44	11	market	market	NOUN
dem-11741	44	12	volatility	volatility	NOUN
dem-11741	44	13	.	.	PUNCT
dem-11741	45	1	a	a	DET
dem-11741	45	2	small	small	ADJ
dem-11741	45	3	part	part	NOUN
dem-11741	45	4	of	of	ADP
dem-11741	45	5	the	the	DET
dem-11741	45	6	study	study	NOUN
dem-11741	45	7	is	be	AUX
dem-11741	45	8	devoted	devote	VERB
dem-11741	45	9	to	to	ADP
dem-11741	45	10	the	the	DET
dem-11741	45	11	volatility	volatility	NOUN
dem-11741	45	12	of	of	ADP
dem-11741	45	13	the	the	DET
dem-11741	45	14	firm	firm	ADJ
dem-11741	45	15	-	-	PUNCT
dem-11741	45	16	level	level	NOUN
dem-11741	45	17	.	.	PUNCT
dem-11741	46	1	volatility	volatility	NOUN
dem-11741	46	2	of	of	ADP
dem-11741	46	3	asset	asset	NOUN
dem-11741	46	4	prices	price	NOUN
dem-11741	46	5	is	be	AUX
dem-11741	46	6	also	also	ADV
dem-11741	46	7	often	often	ADV
dem-11741	46	8	explained	explain	VERB
dem-11741	46	9	by	by	ADP
dem-11741	46	10	the	the	DET
dem-11741	46	11	mechanism	mechanism	NOUN
dem-11741	46	12	of	of	ADP
dem-11741	46	13	transmission	transmission	NOUN
dem-11741	46	14	of	of	ADP
dem-11741	46	15	crises	crisis	NOUN
dem-11741	46	16	and	and	CCONJ
dem-11741	46	17	the	the	DET
dem-11741	46	18	related	related	ADJ
dem-11741	46	19	phenomenon	phenomenon	NOUN
dem-11741	46	20	of	of	ADP
dem-11741	46	21	contagion	contagion	NOUN
dem-11741	46	22	(	(	PUNCT
dem-11741	46	23	baur	baur	NOUN
dem-11741	46	24	,	,	PUNCT
dem-11741	46	25	2003	2003	NUM
dem-11741	46	26	;	;	PUNCT
dem-11741	46	27	corsetti	corsetti	PROPN
dem-11741	46	28	et	et	PROPN
dem-11741	46	29	al	al	PROPN
dem-11741	46	30	.	.	PROPN
dem-11741	46	31	,	,	PUNCT
dem-11741	46	32	2005	2005	NUM
dem-11741	46	33	;	;	PUNCT
dem-11741	46	34	claessens	claessen	NOUN
dem-11741	46	35	and	and	CCONJ
dem-11741	46	36	forbes	forbe	NOUN
dem-11741	46	37	,	,	PUNCT
dem-11741	46	38	2004	2004	NUM
dem-11741	46	39	;	;	PUNCT
dem-11741	46	40	le	le	X
dem-11741	46	41	and	and	CCONJ
dem-11741	46	42	david	david	PROPN
dem-11741	46	43	,	,	PUNCT
dem-11741	46	44	2014	2014	NUM
dem-11741	46	45	)	)	PUNCT
dem-11741	46	46	.	.	PUNCT
dem-11741	47	1	researchers	researcher	NOUN
dem-11741	47	2	examining	examine	VERB
dem-11741	47	3	the	the	DET
dem-11741	47	4	contagion	contagion	NOUN
dem-11741	47	5	effect	effect	NOUN
dem-11741	47	6	on	on	ADP
dem-11741	47	7	the	the	DET
dem-11741	47	8	capital	capital	NOUN
dem-11741	47	9	market	market	NOUN
dem-11741	47	10	level	level	NOUN
dem-11741	47	11	concern	concern	NOUN
dem-11741	47	12	only	only	ADV
dem-11741	47	13	a	a	DET
dem-11741	47	14	chosen	choose	VERB
dem-11741	47	15	stock	stock	NOUN
dem-11741	47	16	indices	index	NOUN
dem-11741	47	17	,	,	PUNCT
dem-11741	47	18	which	which	PRON
dem-11741	47	19	do	do	AUX
dem-11741	47	20	not	not	PART
dem-11741	47	21	reflect	reflect	VERB
dem-11741	47	22	the	the	DET
dem-11741	47	23	impact	impact	NOUN
dem-11741	47	24	of	of	ADP
dem-11741	47	25	the	the	DET
dem-11741	47	26	volatility	volatility	NOUN
dem-11741	47	27	of	of	ADP
dem-11741	47	28	share	share	NOUN
dem-11741	47	29	prices	price	NOUN
dem-11741	47	30	of	of	ADP
dem-11741	47	31	companies	company	NOUN
dem-11741	47	32	in	in	ADP
dem-11741	47	33	different	different	ADJ
dem-11741	47	34	sectors	sector	NOUN
dem-11741	47	35	.	.	PUNCT
dem-11741	48	1	in	in	ADP
dem-11741	48	2	such	such	DET
dem-11741	48	3	an	an	DET
dem-11741	48	4	approach	approach	NOUN
dem-11741	48	5	the	the	DET
dem-11741	48	6	heterogeneity	heterogeneity	NOUN
dem-11741	48	7	effect	effect	NOUN
dem-11741	48	8	of	of	ADP
dem-11741	48	9	the	the	DET
dem-11741	48	10	sectors	sector	NOUN
dem-11741	48	11	selected	select	VERB
dem-11741	48	12	within	within	ADP
dem-11741	48	13	a	a	DET
dem-11741	48	14	given	give	VERB
dem-11741	48	15	capital	capital	NOUN
dem-11741	48	16	market	market	NOUN
dem-11741	48	17	and	and	CCONJ
dem-11741	48	18	their	their	PRON
dem-11741	48	19	various	various	ADJ
dem-11741	48	20	immunity	immunity	NOUN
dem-11741	48	21	to	to	ADP
dem-11741	48	22	external	external	ADJ
dem-11741	48	23	shocks	shock	NOUN
dem-11741	48	24	and	and	CCONJ
dem-11741	48	25	different	different	ADJ
dem-11741	48	26	sensitivity	sensitivity	NOUN
dem-11741	48	27	to	to	ADP
dem-11741	48	28	effects	effect	NOUN
dem-11741	48	29	of	of	ADP
dem-11741	48	30	a	a	DET
dem-11741	48	31	financial	financial	ADJ
dem-11741	48	32	crisis	crisis	NOUN
dem-11741	48	33	are	be	AUX
dem-11741	48	34	omitted	omit	VERB
dem-11741	48	35	(	(	PUNCT
dem-11741	48	36	phylatkis	phylatki	NOUN
dem-11741	48	37	and	and	CCONJ
dem-11741	48	38	xia	xia	PROPN
dem-11741	48	39	,	,	PUNCT
dem-11741	48	40	2009	2009	NUM
dem-11741	48	41	)	)	PUNCT
dem-11741	48	42	.	.	PUNCT
dem-11741	49	1	the	the	DET
dem-11741	49	2	impact	impact	NOUN
dem-11741	49	3	of	of	ADP
dem-11741	49	4	the	the	DET
dem-11741	49	5	subprime	subprime	ADJ
dem-11741	49	6	crisis	crisis	NOUN
dem-11741	49	7	on	on	ADP
dem-11741	49	8	individual	individual	ADJ
dem-11741	49	9	segments	segment	NOUN
dem-11741	49	10	of	of	ADP
dem-11741	49	11	the	the	DET
dem-11741	49	12	polish	polish	ADJ
dem-11741	49	13	financial	financial	ADJ
dem-11741	49	14	market	market	NOUN
dem-11741	49	15	were	be	AUX
dem-11741	49	16	presented	present	VERB
dem-11741	49	17	by	by	ADP
dem-11741	49	18	konopczak	konopczak	PROPN
dem-11741	49	19	et	et	PROPN
dem-11741	49	20	.	.	PUNCT
dem-11741	50	1	al	al	PROPN
dem-11741	50	2	.	.	PROPN
dem-11741	51	1	(	(	PUNCT
dem-11741	51	2	2010	2010	NUM
dem-11741	51	3	)	)	PUNCT
dem-11741	51	4	.	.	PUNCT
dem-11741	52	1	the	the	DET
dem-11741	52	2	analysis	analysis	NOUN
dem-11741	52	3	shows	show	VERB
dem-11741	52	4	the	the	DET
dem-11741	52	5	local	local	ADJ
dem-11741	52	6	and	and	CCONJ
dem-11741	52	7	global	global	ADJ
dem-11741	52	8	conditions	condition	NOUN
dem-11741	52	9	that	that	PRON
dem-11741	52	10	made	make	VERB
dem-11741	52	11	the	the	DET
dem-11741	52	12	interaction	interaction	NOUN
dem-11741	52	13	of	of	ADP
dem-11741	52	14	disorders	disorder	NOUN
dem-11741	52	15	associated	associate	VERB
dem-11741	52	16	with	with	ADP
dem-11741	52	17	the	the	DET
dem-11741	52	18	global	global	ADJ
dem-11741	52	19	financial	financial	ADJ
dem-11741	52	20	crisis	crisis	NOUN
dem-11741	52	21	on	on	ADP
dem-11741	52	22	the	the	DET
dem-11741	52	23	polish	polish	ADJ
dem-11741	52	24	financial	financial	ADJ
dem-11741	52	25	market	market	NOUN
dem-11741	52	26	was	be	AUX
dem-11741	52	27	as	as	ADV
dem-11741	52	28	strong	strong	ADJ
dem-11741	52	29	as	as	ADP
dem-11741	52	30	in	in	ADP
dem-11741	52	31	developed	develop	VERB
dem-11741	52	32	markets	market	NOUN
dem-11741	52	33	.	.	PUNCT
dem-11741	53	1	empirical	empirical	ADJ
dem-11741	53	2	studies	study	NOUN
dem-11741	53	3	,	,	PUNCT
dem-11741	53	4	including	include	VERB
dem-11741	53	5	the	the	DET
dem-11741	53	6	period	period	NOUN
dem-11741	53	7	of	of	ADP
dem-11741	53	8	the	the	DET
dem-11741	53	9	subprime	subprime	ADJ
dem-11741	53	10	crisis	crisis	NOUN
dem-11741	53	11	,	,	PUNCT
dem-11741	53	12	conducted	conduct	VERB
dem-11741	53	13	by	by	ADP
dem-11741	53	14	otola	otola	PROPN
dem-11741	53	15	(	(	PUNCT
dem-11741	53	16	2013	2013	NUM
dem-11741	53	17	)	)	PUNCT
dem-11741	53	18	,	,	PUNCT
dem-11741	53	19	concerning	concern	VERB
dem-11741	53	20	the	the	DET
dem-11741	53	21	relationship	relationship	NOUN
dem-11741	53	22	between	between	ADP
dem-11741	53	23	the	the	DET
dem-11741	53	24	wig	wig	NOUN
dem-11741	53	25	index	index	NOUN
dem-11741	53	26	and	and	CCONJ
dem-11741	53	27	the	the	DET
dem-11741	53	28	s&p500	s&p500	NOUN
dem-11741	53	29	index	index	NOUN
dem-11741	53	30	,	,	PUNCT
dem-11741	53	31	had	have	VERB
dem-11741	53	32	to	to	PART
dem-11741	53	33	indicate	indicate	VERB
dem-11741	53	34	whether	whether	SCONJ
dem-11741	53	35	negative	negative	ADJ
dem-11741	53	36	shocks	shock	NOUN
dem-11741	53	37	arising	arise	VERB
dem-11741	53	38	in	in	ADP
dem-11741	53	39	the	the	DET
dem-11741	53	40	united	united	PROPN
dem-11741	53	41	states	states	PROPN
dem-11741	53	42	have	have	AUX
dem-11741	53	43	been	be	AUX
dem-11741	53	44	transferred	transfer	VERB
dem-11741	53	45	to	to	ADP
dem-11741	53	46	polish	polish	VERB
dem-11741	53	47	capital	capital	NOUN
dem-11741	53	48	market	market	NOUN
dem-11741	53	49	by	by	ADP
dem-11741	53	50	stock	stock	NOUN
dem-11741	53	51	exchange	exchange	PROPN
dem-11741	53	52	channel	channel	PROPN
dem-11741	53	53	.	.	PUNCT
dem-11741	54	1	the	the	DET
dem-11741	54	2	high	high	ADJ
dem-11741	54	3	volatility	volatility	NOUN
dem-11741	54	4	in	in	ADP
dem-11741	54	5	the	the	DET
dem-11741	54	6	capital	capital	NOUN
dem-11741	54	7	market	market	NOUN
dem-11741	54	8	,	,	PUNCT
dem-11741	54	9	which	which	PRON
dem-11741	54	10	has	have	AUX
dem-11741	54	11	been	be	AUX
dem-11741	54	12	observed	observe	VERB
dem-11741	54	13	in	in	ADP
dem-11741	54	14	an	an	DET
dem-11741	54	15	unstable	unstable	ADJ
dem-11741	54	16	period	period	NOUN
dem-11741	54	17	is	be	AUX
dem-11741	54	18	not	not	PART
dem-11741	54	19	only	only	ADV
dem-11741	54	20	the	the	DET
dem-11741	54	21	result	result	NOUN
dem-11741	54	22	of	of	ADP
dem-11741	54	23	the	the	DET
dem-11741	54	24	interdependence	interdependence	NOUN
dem-11741	54	25	between	between	ADP
dem-11741	54	26	the	the	DET
dem-11741	54	27	markets	market	NOUN
dem-11741	54	28	but	but	CCONJ
dem-11741	54	29	the	the	DET
dem-11741	54	30	result	result	NOUN
dem-11741	54	31	of	of	ADP
dem-11741	54	32	the	the	DET
dem-11741	54	33	financial	financial	ADJ
dem-11741	54	34	contagion	contagion	NOUN
dem-11741	54	35	of	of	ADP
dem-11741	54	36	polish	polish	ADJ
dem-11741	54	37	capital	capital	NOUN
dem-11741	54	38	market	market	NOUN
dem-11741	54	39	.	.	PUNCT
dem-11741	55	1	in	in	ADP
dem-11741	55	2	this	this	DET
dem-11741	55	3	context	context	NOUN
dem-11741	55	4	,	,	PUNCT
dem-11741	55	5	we	we	PRON
dem-11741	55	6	rightly	rightly	ADV
dem-11741	55	7	seem	seem	VERB
dem-11741	55	8	to	to	PART
dem-11741	55	9	conwłodarczyk	conwłodarczyk	PROPN
dem-11741	55	10	,	,	PUNCT
dem-11741	55	11	otola	otola	PROPN
dem-11741	55	12	dynamic	dynamic	ADJ
dem-11741	55	13	econometric	econometric	ADJ
dem-11741	55	14	models	model	NOUN
dem-11741	55	15	16	16	NUM
dem-11741	55	16	(	(	PUNCT
dem-11741	55	17	2016	2016	NUM
dem-11741	55	18	)	)	PUNCT
dem-11741	56	1	87–116	87–116	PROPN
dem-11741	56	2	90	90	NUM
dem-11741	56	3	duct	duct	NOUN
dem-11741	56	4	the	the	DET
dem-11741	56	5	further	further	ADJ
dem-11741	56	6	research	research	NOUN
dem-11741	56	7	on	on	ADP
dem-11741	56	8	the	the	DET
dem-11741	56	9	volatility	volatility	NOUN
dem-11741	56	10	of	of	ADP
dem-11741	56	11	the	the	DET
dem-11741	56	12	polish	polish	ADJ
dem-11741	56	13	capital	capital	NOUN
dem-11741	56	14	market	market	NOUN
dem-11741	56	15	on	on	ADP
dem-11741	56	16	the	the	DET
dem-11741	56	17	firm	firm	ADJ
dem-11741	56	18	level	level	NOUN
dem-11741	56	19	.	.	PUNCT
dem-11741	57	1	taking	take	VERB
dem-11741	57	2	above	above	ADV
dem-11741	57	3	into	into	ADP
dem-11741	57	4	consideration	consideration	NOUN
dem-11741	57	5	we	we	PRON
dem-11741	57	6	are	be	AUX
dem-11741	57	7	interested	interested	ADJ
dem-11741	57	8	in	in	ADP
dem-11741	57	9	examining	examine	VERB
dem-11741	57	10	the	the	DET
dem-11741	57	11	direction	direction	NOUN
dem-11741	57	12	and	and	CCONJ
dem-11741	57	13	strength	strength	NOUN
dem-11741	57	14	of	of	ADP
dem-11741	57	15	relationship	relationship	NOUN
dem-11741	57	16	between	between	ADP
dem-11741	57	17	firm	firm	ADJ
dem-11741	57	18	-	-	PUNCT
dem-11741	57	19	level	level	NOUN
dem-11741	57	20	volatility	volatility	NOUN
dem-11741	57	21	and	and	CCONJ
dem-11741	57	22	marketlevel	marketlevel	VERB
dem-11741	57	23	volatility	volatility	NOUN
dem-11741	57	24	on	on	ADP
dem-11741	57	25	the	the	DET
dem-11741	57	26	polish	polish	ADJ
dem-11741	57	27	capital	capital	NOUN
dem-11741	57	28	market	market	NOUN
dem-11741	57	29	in	in	ADP
dem-11741	57	30	the	the	DET
dem-11741	57	31	period	period	NOUN
dem-11741	57	32	of	of	ADP
dem-11741	57	33	preand	preand	NOUN
dem-11741	57	34	post	post	NOUN
dem-11741	57	35	subprime	subprime	ADJ
dem-11741	57	36	crisis	crisis	NOUN
dem-11741	57	37	.	.	PUNCT
dem-11741	58	1	the	the	DET
dem-11741	58	2	aim	aim	NOUN
dem-11741	58	3	of	of	ADP
dem-11741	58	4	this	this	DET
dem-11741	58	5	paper	paper	NOUN
dem-11741	58	6	is	be	AUX
dem-11741	58	7	to	to	ADP
dem-11741	58	8	investigating	investigate	VERB
dem-11741	58	9	if	if	SCONJ
dem-11741	58	10	the	the	DET
dem-11741	58	11	market	market	NOUN
dem-11741	58	12	volatility	volatility	NOUN
dem-11741	58	13	and	and	CCONJ
dem-11741	58	14	firm	firm	ADJ
dem-11741	58	15	volatility	volatility	NOUN
dem-11741	58	16	are	be	AUX
dem-11741	58	17	related	relate	VERB
dem-11741	58	18	and	and	CCONJ
dem-11741	58	19	if	if	SCONJ
dem-11741	58	20	the	the	DET
dem-11741	58	21	strength	strength	NOUN
dem-11741	58	22	of	of	ADP
dem-11741	58	23	this	this	DET
dem-11741	58	24	relationship	relationship	NOUN
dem-11741	58	25	increase	increase	VERB
dem-11741	58	26	significantly	significantly	ADV
dem-11741	58	27	in	in	ADP
dem-11741	58	28	the	the	DET
dem-11741	58	29	turbulent	turbulent	ADJ
dem-11741	58	30	period	period	NOUN
dem-11741	58	31	compared	compare	VERB
dem-11741	58	32	to	to	ADP
dem-11741	58	33	the	the	DET
dem-11741	58	34	stable	stable	ADJ
dem-11741	58	35	period	period	NOUN
dem-11741	58	36	.	.	PUNCT
dem-11741	59	1	the	the	DET
dem-11741	59	2	empirical	empirical	ADJ
dem-11741	59	3	study	study	NOUN
dem-11741	59	4	concerns	concern	VERB
dem-11741	59	5	the	the	DET
dem-11741	59	6	selected	select	VERB
dem-11741	59	7	companies	company	NOUN
dem-11741	59	8	listed	list	VERB
dem-11741	59	9	on	on	ADP
dem-11741	59	10	the	the	DET
dem-11741	59	11	warsaw	warsaw	PROPN
dem-11741	59	12	stock	stock	PROPN
dem-11741	59	13	exchange	exchange	NOUN
dem-11741	59	14	from	from	ADP
dem-11741	59	15	the	the	DET
dem-11741	59	16	construction	construction	NOUN
dem-11741	59	17	and	and	CCONJ
dem-11741	59	18	it	it	PRON
dem-11741	59	19	sectors	sector	NOUN
dem-11741	59	20	in	in	ADP
dem-11741	59	21	the	the	DET
dem-11741	59	22	period	period	NOUN
dem-11741	59	23	from	from	ADP
dem-11741	59	24	2	2	NUM
dem-11741	59	25	january	january	NOUN
dem-11741	59	26	2004	2004	NUM
dem-11741	59	27	to	to	ADP
dem-11741	59	28	31	31	NUM
dem-11741	59	29	december	december	PROPN
dem-11741	59	30	2011	2011	NUM
dem-11741	59	31	.	.	PUNCT
dem-11741	60	1	in	in	ADP
dem-11741	60	2	this	this	DET
dem-11741	60	3	respect	respect	NOUN
dem-11741	60	4	,	,	PUNCT
dem-11741	60	5	our	our	PRON
dem-11741	60	6	contribution	contribution	NOUN
dem-11741	60	7	to	to	ADP
dem-11741	60	8	the	the	DET
dem-11741	60	9	literature	literature	NOUN
dem-11741	60	10	is	be	AUX
dem-11741	60	11	connected	connect	VERB
dem-11741	60	12	with	with	ADP
dem-11741	60	13	the	the	DET
dem-11741	60	14	calibration	calibration	NOUN
dem-11741	60	15	of	of	ADP
dem-11741	60	16	sharma	sharma	PROPN
dem-11741	60	17	et	et	PROPN
dem-11741	60	18	al	al	PROPN
dem-11741	60	19	.	.	PROPN
dem-11741	60	20	model	model	PROPN
dem-11741	60	21	(	(	PUNCT
dem-11741	60	22	2011	2011	NUM
dem-11741	60	23	,	,	PUNCT
dem-11741	60	24	2014	2014	NUM
dem-11741	60	25	)	)	PUNCT
dem-11741	60	26	through	through	ADP
dem-11741	60	27	introducing	introduce	VERB
dem-11741	60	28	long	long	ADJ
dem-11741	60	29	memory	memory	NOUN
dem-11741	60	30	dynamics	dynamic	NOUN
dem-11741	60	31	and	and	CCONJ
dem-11741	60	32	skewed	skewed	ADJ
dem-11741	60	33	fat	fat	ADJ
dem-11741	60	34	-	-	PUNCT
dem-11741	60	35	tailed	tail	VERB
dem-11741	60	36	distributions	distribution	NOUN
dem-11741	60	37	of	of	ADP
dem-11741	60	38	innovations	innovation	NOUN
dem-11741	60	39	into	into	ADP
dem-11741	60	40	the	the	DET
dem-11741	60	41	basic	basic	ADJ
dem-11741	60	42	model	model	NOUN
dem-11741	60	43	describing	describe	VERB
dem-11741	60	44	the	the	DET
dem-11741	60	45	relationship	relationship	NOUN
dem-11741	60	46	between	between	ADP
dem-11741	60	47	firm	firm	ADJ
dem-11741	60	48	volatility	volatility	NOUN
dem-11741	60	49	and	and	CCONJ
dem-11741	60	50	market	market	NOUN
dem-11741	60	51	volatility	volatility	NOUN
dem-11741	60	52	.	.	PUNCT
dem-11741	61	1	following	follow	VERB
dem-11741	61	2	sadigue	sadigue	NOUN
dem-11741	61	3	and	and	CCONJ
dem-11741	61	4	silvapulle	silvapulle	NOUN
dem-11741	61	5	(	(	PUNCT
dem-11741	61	6	2001	2001	NUM
dem-11741	61	7	)	)	PUNCT
dem-11741	61	8	and	and	CCONJ
dem-11741	61	9	kang	kang	PROPN
dem-11741	61	10	and	and	CCONJ
dem-11741	61	11	yoon	yoon	PROPN
dem-11741	61	12	(	(	PUNCT
dem-11741	61	13	2012	2012	NUM
dem-11741	61	14	)	)	PUNCT
dem-11741	61	15	we	we	PRON
dem-11741	61	16	expect	expect	VERB
dem-11741	61	17	that	that	SCONJ
dem-11741	61	18	on	on	ADP
dem-11741	61	19	the	the	DET
dem-11741	61	20	polish	polish	ADJ
dem-11741	61	21	capital	capital	NOUN
dem-11741	61	22	market	market	NOUN
dem-11741	61	23	some	some	DET
dem-11741	61	24	investors	investor	NOUN
dem-11741	61	25	reacted	react	VERB
dem-11741	61	26	to	to	ADP
dem-11741	61	27	new	new	ADJ
dem-11741	61	28	information	information	NOUN
dem-11741	61	29	immediately	immediately	ADV
dem-11741	61	30	,	,	PUNCT
dem-11741	61	31	whereas	whereas	SCONJ
dem-11741	61	32	others	other	NOUN
dem-11741	61	33	postpone	postpone	VERB
dem-11741	61	34	making	make	VERB
dem-11741	61	35	the	the	DET
dem-11741	61	36	investment	investment	NOUN
dem-11741	61	37	decision	decision	NOUN
dem-11741	61	38	until	until	SCONJ
dem-11741	61	39	they	they	PRON
dem-11741	61	40	confirm	confirm	VERB
dem-11741	61	41	the	the	DET
dem-11741	61	42	information	information	NOUN
dem-11741	61	43	.	.	PUNCT
dem-11741	62	1	it	it	PRON
dem-11741	62	2	causes	cause	VERB
dem-11741	62	3	that	that	SCONJ
dem-11741	62	4	their	their	PRON
dem-11741	62	5	actions	action	NOUN
dem-11741	62	6	form	form	VERB
dem-11741	62	7	a	a	DET
dem-11741	62	8	non	non	ADJ
dem-11741	62	9	-	-	ADJ
dem-11741	62	10	linear	linear	ADJ
dem-11741	62	11	pattern	pattern	NOUN
dem-11741	62	12	,	,	PUNCT
dem-11741	62	13	which	which	PRON
dem-11741	62	14	characterizes	characterize	VERB
dem-11741	62	15	statistical	statistical	ADJ
dem-11741	62	16	persistence	persistence	NOUN
dem-11741	62	17	in	in	ADP
dem-11741	62	18	a	a	DET
dem-11741	62	19	time	time	NOUN
dem-11741	62	20	series	series	NOUN
dem-11741	62	21	.	.	PUNCT
dem-11741	63	1	we	we	PRON
dem-11741	63	2	also	also	ADV
dem-11741	63	3	taking	take	VERB
dem-11741	63	4	into	into	ADP
dem-11741	63	5	consideration	consideration	NOUN
dem-11741	63	6	the	the	DET
dem-11741	63	7	possible	possible	ADJ
dem-11741	63	8	structural	structural	ADJ
dem-11741	63	9	changes	change	NOUN
dem-11741	63	10	that	that	PRON
dem-11741	63	11	may	may	AUX
dem-11741	63	12	have	have	AUX
dem-11741	63	13	affected	affect	VERB
dem-11741	63	14	the	the	DET
dem-11741	63	15	long	long	ADJ
dem-11741	63	16	memory	memory	NOUN
dem-11741	63	17	property	property	NOUN
dem-11741	63	18	,	,	PUNCT
dem-11741	63	19	so	so	SCONJ
dem-11741	63	20	we	we	PRON
dem-11741	63	21	divide	divide	VERB
dem-11741	63	22	the	the	DET
dem-11741	63	23	analyzed	analyze	VERB
dem-11741	63	24	period	period	NOUN
dem-11741	63	25	into	into	ADP
dem-11741	63	26	two	two	NUM
dem-11741	63	27	sub	sub	NOUN
dem-11741	63	28	-	-	ADJ
dem-11741	63	29	periods	period	NOUN
dem-11741	63	30	,	,	PUNCT
dem-11741	63	31	taking	take	VERB
dem-11741	63	32	the	the	DET
dem-11741	63	33	subprime	subprime	ADJ
dem-11741	63	34	financial	financial	ADJ
dem-11741	63	35	crisis	crisis	NOUN
dem-11741	63	36	of	of	ADP
dem-11741	63	37	july	july	PROPN
dem-11741	63	38	2007	2007	NUM
dem-11741	63	39	as	as	ADP
dem-11741	63	40	the	the	DET
dem-11741	63	41	structural	structural	ADJ
dem-11741	63	42	change	change	NOUN
dem-11741	63	43	point	point	NOUN
dem-11741	63	44	.	.	PUNCT
dem-11741	64	1	the	the	DET
dem-11741	64	2	above	above	ADJ
dem-11741	64	3	considerations	consideration	NOUN
dem-11741	64	4	allow	allow	VERB
dem-11741	64	5	us	we	PRON
dem-11741	64	6	to	to	PART
dem-11741	64	7	formulate	formulate	VERB
dem-11741	64	8	the	the	DET
dem-11741	64	9	following	follow	VERB
dem-11741	64	10	hypothesis	hypothesis	NOUN
dem-11741	64	11	:	:	PUNCT
dem-11741	64	12	there	there	PRON
dem-11741	64	13	is	be	VERB
dem-11741	64	14	no	no	DET
dem-11741	64	15	significant	significant	ADJ
dem-11741	64	16	increase	increase	NOUN
dem-11741	64	17	in	in	ADP
dem-11741	64	18	the	the	DET
dem-11741	64	19	fraction	fraction	NOUN
dem-11741	64	20	of	of	ADP
dem-11741	64	21	firms	firm	NOUN
dem-11741	64	22	from	from	ADP
dem-11741	64	23	a	a	DET
dem-11741	64	24	given	give	VERB
dem-11741	64	25	sector	sector	NOUN
dem-11741	64	26	of	of	ADP
dem-11741	64	27	polish	polish	ADJ
dem-11741	64	28	capital	capital	NOUN
dem-11741	64	29	market	market	NOUN
dem-11741	64	30	whose	whose	DET
dem-11741	64	31	volatility	volatility	NOUN
dem-11741	64	32	is	be	AUX
dem-11741	64	33	strongly	strongly	ADV
dem-11741	64	34	and	and	CCONJ
dem-11741	64	35	positively	positively	ADV
dem-11741	64	36	related	relate	VERB
dem-11741	64	37	with	with	ADP
dem-11741	64	38	market	market	NOUN
dem-11741	64	39	volatility	volatility	NOUN
dem-11741	64	40	in	in	ADP
dem-11741	64	41	pre	pre	ADJ
dem-11741	64	42	-	-	ADJ
dem-11741	64	43	crisis	crisis	ADJ
dem-11741	64	44	period	period	NOUN
dem-11741	64	45	compared	compare	VERB
dem-11741	64	46	with	with	ADP
dem-11741	64	47	post	post	ADJ
dem-11741	64	48	-	-	ADJ
dem-11741	64	49	crisis	crisis	ADJ
dem-11741	64	50	period	period	NOUN
dem-11741	64	51	.	.	PUNCT
dem-11741	65	1	the	the	DET
dem-11741	65	2	remainder	remainder	NOUN
dem-11741	65	3	of	of	ADP
dem-11741	65	4	the	the	DET
dem-11741	65	5	paper	paper	NOUN
dem-11741	65	6	is	be	AUX
dem-11741	65	7	organized	organize	VERB
dem-11741	65	8	as	as	SCONJ
dem-11741	65	9	follows	follow	VERB
dem-11741	65	10	.	.	PUNCT
dem-11741	66	1	section	section	NOUN
dem-11741	66	2	2	2	NUM
dem-11741	66	3	describes	describe	VERB
dem-11741	66	4	the	the	DET
dem-11741	66	5	methodology	methodology	NOUN
dem-11741	66	6	,	,	PUNCT
dem-11741	66	7	data	datum	NOUN
dem-11741	66	8	properties	property	NOUN
dem-11741	66	9	are	be	AUX
dem-11741	66	10	presented	present	VERB
dem-11741	66	11	in	in	ADP
dem-11741	66	12	section	section	NOUN
dem-11741	66	13	3	3	NUM
dem-11741	66	14	.	.	PUNCT
dem-11741	67	1	in	in	ADP
dem-11741	67	2	section	section	NOUN
dem-11741	67	3	4	4	NUM
dem-11741	67	4	we	we	PRON
dem-11741	67	5	verify	verify	VERB
dem-11741	67	6	the	the	DET
dem-11741	67	7	hypothesis	hypothesis	NOUN
dem-11741	67	8	about	about	ADP
dem-11741	67	9	the	the	DET
dem-11741	67	10	commonality	commonality	NOUN
dem-11741	67	11	in	in	ADP
dem-11741	67	12	volatility	volatility	NOUN
dem-11741	67	13	in	in	ADP
dem-11741	67	14	stable	stable	ADJ
dem-11741	67	15	and	and	CCONJ
dem-11741	67	16	turbulent	turbulent	ADJ
dem-11741	67	17	period	period	NOUN
dem-11741	67	18	.	.	PUNCT
dem-11741	68	1	and	and	CCONJ
dem-11741	68	2	finally	finally	ADV
dem-11741	68	3	,	,	PUNCT
dem-11741	68	4	section	section	NOUN
dem-11741	68	5	5	5	NUM
dem-11741	68	6	concludes	conclude	VERB
dem-11741	68	7	the	the	DET
dem-11741	68	8	paper	paper	NOUN
dem-11741	68	9	.	.	PUNCT
dem-11741	69	1	2	2	X
dem-11741	69	2	.	.	X
dem-11741	69	3	methodology	methodology	NOUN
dem-11741	69	4	we	we	PRON
dem-11741	69	5	have	have	AUX
dem-11741	69	6	modified	modify	VERB
dem-11741	69	7	the	the	DET
dem-11741	69	8	model	model	NOUN
dem-11741	69	9	of	of	ADP
dem-11741	69	10	sharma	sharma	PROPN
dem-11741	69	11	et	et	PROPN
dem-11741	69	12	al	al	PROPN
dem-11741	69	13	.	.	PROPN
dem-11741	70	1	(	(	PUNCT
dem-11741	70	2	2011	2011	NUM
dem-11741	70	3	,	,	PUNCT
dem-11741	70	4	2014	2014	NUM
dem-11741	70	5	)	)	PUNCT
dem-11741	70	6	,	,	PUNCT
dem-11741	70	7	which	which	PRON
dem-11741	70	8	describes	describe	VERB
dem-11741	70	9	the	the	DET
dem-11741	70	10	relationship	relationship	NOUN
dem-11741	70	11	between	between	ADP
dem-11741	70	12	firm	firm	ADJ
dem-11741	70	13	volatility	volatility	NOUN
dem-11741	70	14	and	and	CCONJ
dem-11741	70	15	stock	stock	NOUN
dem-11741	70	16	market	market	NOUN
dem-11741	70	17	volatility	volatility	NOUN
dem-11741	70	18	by	by	ADP
dem-11741	70	19	capturing	capture	VERB
dem-11741	70	20	the	the	DET
dem-11741	70	21	possible	possible	ADJ
dem-11741	70	22	long	long	ADJ
dem-11741	70	23	memory	memory	NOUN
dem-11741	70	24	effect	effect	NOUN
dem-11741	70	25	in	in	ADP
dem-11741	70	26	both	both	CCONJ
dem-11741	70	27	firm	firm	ADJ
dem-11741	70	28	and	and	CCONJ
dem-11741	70	29	market	market	NOUN
dem-11741	70	30	volatility	volatility	NOUN
dem-11741	70	31	process	process	NOUN
dem-11741	70	32	.	.	PUNCT
dem-11741	71	1	theoretical	theoretical	ADJ
dem-11741	71	2	frames	frame	NOUN
dem-11741	71	3	of	of	ADP
dem-11741	71	4	the	the	DET
dem-11741	71	5	volatility	volatility	NOUN
dem-11741	71	6	model	model	NOUN
dem-11741	71	7	determines	determine	VERB
dem-11741	71	8	capital	capital	NOUN
dem-11741	71	9	asset	asset	NOUN
dem-11741	71	10	analysis	analysis	NOUN
dem-11741	71	11	of	of	ADP
dem-11741	71	12	the	the	DET
dem-11741	71	13	relationship	relationship	NOUN
dem-11741	71	14	between	between	ADP
dem-11741	71	15	market	market	NOUN
dem-11741	71	16	volatility	volatility	NOUN
dem-11741	71	17	and	and	CCONJ
dem-11741	71	18	firms	firm	NOUN
dem-11741	71	19	volatility	volatility	NOUN
dem-11741	71	20	…	…	SYM
dem-11741	71	21	dynamic	dynamic	ADJ
dem-11741	71	22	econometric	econometric	ADJ
dem-11741	71	23	models	model	NOUN
dem-11741	71	24	16	16	NUM
dem-11741	71	25	(	(	PUNCT
dem-11741	71	26	2016	2016	NUM
dem-11741	71	27	)	)	PUNCT
dem-11741	72	1	87–116	87–116	PROPN
dem-11741	72	2	91	91	NUM
dem-11741	72	3	pricing	pricing	NOUN
dem-11741	72	4	model	model	NOUN
dem-11741	72	5	(	(	PUNCT
dem-11741	72	6	capm	capm	PROPN
dem-11741	72	7	)	)	PUNCT
dem-11741	72	8	and	and	CCONJ
dem-11741	72	9	fractionally	fractionally	ADV
dem-11741	72	10	integrated	integrate	VERB
dem-11741	72	11	generalized	generalized	ADJ
dem-11741	72	12	autoregressive	autoregressive	ADJ
dem-11741	72	13	conditional	conditional	ADJ
dem-11741	72	14	heteroscedasticity	heteroscedasticity	NOUN
dem-11741	72	15	(	(	PUNCT
dem-11741	72	16	figarch	figarch	NOUN
dem-11741	72	17	)	)	PUNCT
dem-11741	72	18	.	.	PUNCT
dem-11741	73	1	in	in	ADP
dem-11741	73	2	empirical	empirical	ADJ
dem-11741	73	3	research	research	NOUN
dem-11741	73	4	presented	present	VERB
dem-11741	73	5	in	in	ADP
dem-11741	73	6	the	the	DET
dem-11741	73	7	paper	paper	NOUN
dem-11741	73	8	the	the	DET
dem-11741	73	9	authors	author	NOUN
dem-11741	73	10	use	use	VERB
dem-11741	73	11	the	the	DET
dem-11741	73	12	following	follow	VERB
dem-11741	73	13	regression	regression	NOUN
dem-11741	73	14	equation	equation	NOUN
dem-11741	73	15	,	,	PUNCT
dem-11741	73	16	in	in	ADP
dem-11741	73	17	which	which	PRON
dem-11741	73	18	firm	firm	ADJ
dem-11741	73	19	volatility	volatility	NOUN
dem-11741	73	20	is	be	AUX
dem-11741	73	21	conditioned	condition	VERB
dem-11741	73	22	by	by	ADP
dem-11741	73	23	previous	previous	ADJ
dem-11741	73	24	and	and	CCONJ
dem-11741	73	25	present	present	ADJ
dem-11741	73	26	market	market	NOUN
dem-11741	73	27	volatility	volatility	NOUN
dem-11741	73	28	and	and	CCONJ
dem-11741	73	29	also	also	ADV
dem-11741	73	30	by	by	ADP
dem-11741	73	31	present	present	ADJ
dem-11741	73	32	return	return	NOUN
dem-11741	73	33	on	on	ADP
dem-11741	73	34	investment	investment	NOUN
dem-11741	73	35	into	into	ADP
dem-11741	73	36	the	the	DET
dem-11741	73	37	market	market	NOUN
dem-11741	73	38	portfolio	portfolio	NOUN
dem-11741	73	39	and	and	CCONJ
dem-11741	73	40	squared	square	VERB
dem-11741	73	41	return	return	NOUN
dem-11741	73	42	of	of	ADP
dem-11741	73	43	market	market	NOUN
dem-11741	73	44	index	index	NOUN
dem-11741	73	45	(	(	PUNCT
dem-11741	73	46	sharma	sharma	PROPN
dem-11741	73	47	et	et	PROPN
dem-11741	73	48	al	al	PROPN
dem-11741	73	49	.	.	PROPN
dem-11741	73	50	,	,	PUNCT
dem-11741	73	51	2011	2011	NUM
dem-11741	73	52	):	):	PUNCT
dem-11741	73	53	,	,	PUNCT
dem-11741	73	54	2	2	NUM
dem-11741	73	55	,	,	PUNCT
dem-11741	73	56	4,31,2,10	4,31,2,10	NUM
dem-11741	73	57	,	,	PUNCT
dem-11741	73	58	ittmitmitmitmiitf	ittmitmitmitmiitf	NOUN
dem-11741	73	59	rrvvv	rrvvv	NOUN
dem-11741	73	60	i	i	PRON
dem-11741	73	61			PROPN
dem-11741	73	62			VERB
dem-11741	73	63			PROPN
dem-11741	73	64	(	(	PUNCT
dem-11741	73	65	1	1	NUM
dem-11741	73	66	)	)	PUNCT
dem-11741	73	67	where	where	SCONJ
dem-11741	73	68	:	:	PUNCT
dem-11741	73	69	vm	vm	PROPN
dem-11741	73	70	–	–	PUNCT
dem-11741	73	71	stock	stock	NOUN
dem-11741	73	72	market	market	NOUN
dem-11741	73	73	volatility	volatility	NOUN
dem-11741	73	74	,	,	PUNCT
dem-11741	73	75	if	if	SCONJ
dem-11741	73	76	v	v	ADJ
dem-11741	73	77	–	–	PUNCT
dem-11741	73	78	share	share	NOUN
dem-11741	73	79	volatility	volatility	NOUN
dem-11741	73	80	of	of	ADP
dem-11741	73	81	i	i	PROPN
dem-11741	73	82	-	-	PUNCT
dem-11741	73	83	nth	nth	PROPN
dem-11741	73	84	company	company	NOUN
dem-11741	73	85	(	(	PUNCT
dem-11741	73	86	i=1	i=1	PROPN
dem-11741	73	87	,	,	PUNCT
dem-11741	73	88	2	2	NUM
dem-11741	73	89	,	,	PUNCT
dem-11741	73	90	..	..	PUNCT
dem-11741	73	91	,	,	PUNCT
dem-11741	73	92	n	n	CCONJ
dem-11741	73	93	)	)	PUNCT
dem-11741	73	94	,	,	PUNCT
dem-11741	73	95	rm	rm	PROPN
dem-11741	73	96	,	,	PUNCT
dem-11741	73	97	t	t	PROPN
dem-11741	73	98	–	–	PUNCT
dem-11741	73	99	logarithmic	logarithmic	ADJ
dem-11741	73	100	return	return	NOUN
dem-11741	73	101	of	of	ADP
dem-11741	73	102	stock	stock	NOUN
dem-11741	73	103	market	market	NOUN
dem-11741	73	104	index	index	NOUN
dem-11741	73	105	.	.	PUNCT
dem-11741	74	1	sharma	sharma	PROPN
dem-11741	74	2	et	et	PROPN
dem-11741	74	3	al	al	PROPN
dem-11741	74	4	.	.	PROPN
dem-11741	75	1	(	(	PUNCT
dem-11741	75	2	2011	2011	NUM
dem-11741	75	3	)	)	PUNCT
dem-11741	75	4	incorporated	incorporate	VERB
dem-11741	75	5	market	market	NOUN
dem-11741	75	6	return	return	NOUN
dem-11741	75	7	and	and	CCONJ
dem-11741	75	8	squared	square	VERB
dem-11741	75	9	market	market	NOUN
dem-11741	75	10	return	return	NOUN
dem-11741	75	11	factors	factor	NOUN
dem-11741	75	12	into	into	ADP
dem-11741	75	13	above	above	ADJ
dem-11741	75	14	equation	equation	NOUN
dem-11741	75	15	in	in	ADP
dem-11741	75	16	order	order	NOUN
dem-11741	75	17	to	to	PART
dem-11741	75	18	control	control	VERB
dem-11741	75	19	for	for	ADP
dem-11741	75	20	possible	possible	ADJ
dem-11741	75	21	spurious	spurious	ADJ
dem-11741	75	22	dependence	dependence	NOUN
dem-11741	75	23	between	between	ADP
dem-11741	75	24	returns	return	NOUN
dem-11741	75	25	and	and	CCONJ
dem-11741	75	26	volatility	volatility	NOUN
dem-11741	75	27	measures	measure	NOUN
dem-11741	75	28	.	.	PUNCT
dem-11741	76	1	price	price	NOUN
dem-11741	76	2	range	range	NOUN
dem-11741	76	3	estimators	estimator	NOUN
dem-11741	76	4	are	be	AUX
dem-11741	76	5	used	use	VERB
dem-11741	76	6	as	as	ADP
dem-11741	76	7	volatility	volatility	NOUN
dem-11741	76	8	estimators	estimator	NOUN
dem-11741	76	9	that	that	PRON
dem-11741	76	10	are	be	AUX
dem-11741	76	11	computed	compute	VERB
dem-11741	76	12	on	on	ADP
dem-11741	76	13	the	the	DET
dem-11741	76	14	basis	basis	NOUN
dem-11741	76	15	of	of	ADP
dem-11741	76	16	full	full	ADJ
dem-11741	76	17	publicly	publicly	ADV
dem-11741	76	18	available	available	ADJ
dem-11741	76	19	set	set	NOUN
dem-11741	76	20	of	of	ADP
dem-11741	76	21	information	information	NOUN
dem-11741	76	22	about	about	ADP
dem-11741	76	23	financial	financial	ADJ
dem-11741	76	24	instrument	instrument	NOUN
dem-11741	76	25	prices	price	NOUN
dem-11741	76	26	what	what	PRON
dem-11741	76	27	make	make	VERB
dem-11741	76	28	them	they	PRON
dem-11741	76	29	more	more	ADV
dem-11741	76	30	efficient	efficient	ADJ
dem-11741	76	31	than	than	ADP
dem-11741	76	32	volatility	volatility	NOUN
dem-11741	76	33	estimators	estimator	NOUN
dem-11741	76	34	calculated	calculate	VERB
dem-11741	76	35	as	as	ADP
dem-11741	76	36	the	the	DET
dem-11741	76	37	squared	squared	ADJ
dem-11741	76	38	return	return	NOUN
dem-11741	76	39	(	(	PUNCT
dem-11741	76	40	fiszeder	fiszeder	NOUN
dem-11741	76	41	and	and	CCONJ
dem-11741	76	42	perczak	perczak	NOUN
dem-11741	76	43	,	,	PUNCT
dem-11741	76	44	2013	2013	NUM
dem-11741	76	45	;	;	PUNCT
dem-11741	76	46	molnár	molnár	NOUN
dem-11741	76	47	,	,	PUNCT
dem-11741	76	48	2012	2012	NUM
dem-11741	76	49	;	;	PUNCT
dem-11741	76	50	sharma	sharma	PROPN
dem-11741	76	51	et	et	PROPN
dem-11741	76	52	al	al	PROPN
dem-11741	76	53	.	.	PROPN
dem-11741	76	54	,	,	PUNCT
dem-11741	76	55	2014	2014	NUM
dem-11741	76	56	):	):	PUNCT
dem-11741	76	57			PROPN
dem-11741	76	58	daily	daily	ADJ
dem-11741	76	59	volatility	volatility	NOUN
dem-11741	76	60	estimator	estimator	NOUN
dem-11741	76	61	created	create	VERB
dem-11741	76	62	by	by	ADP
dem-11741	76	63	parkinson	parkinson	NOUN
dem-11741	76	64	(	(	PUNCT
dem-11741	76	65	1980	1980	NUM
dem-11741	76	66	):	):	PUNCT
dem-11741	76	67	,	,	PUNCT
dem-11741	76	68	)	)	PUNCT
dem-11741	76	69	]	]	X
dem-11741	76	70	ln()[ln(361.01	ln()[ln(361.01	X
dem-11741	76	71	2	2	NUM
dem-11741	76	72	itit	itit	NOUN
dem-11741	76	73	plphv	plphv	NOUN
dem-11741	76	74			NOUN
dem-11741	76	75	(	(	PUNCT
dem-11741	76	76	2	2	NUM
dem-11741	76	77	)	)	PUNCT
dem-11741	76	78	where	where	SCONJ
dem-11741	76	79	:	:	PUNCT
dem-11741	76	80	phit	phit	VERB
dem-11741	76	81	–	–	PUNCT
dem-11741	76	82	highest	high	ADJ
dem-11741	76	83	price	price	NOUN
dem-11741	76	84	of	of	ADP
dem-11741	76	85	i	i	PROPN
dem-11741	76	86	-	-	PUNCT
dem-11741	76	87	nth	nth	PROPN
dem-11741	76	88	financial	financial	ADJ
dem-11741	76	89	instrument	instrument	NOUN
dem-11741	76	90	on	on	ADP
dem-11741	76	91	t	t	PROPN
dem-11741	76	92	day	day	NOUN
dem-11741	76	93	,	,	PUNCT
dem-11741	76	94	plit	plit	VERB
dem-11741	76	95	–	–	PUNCT
dem-11741	76	96	lowest	low	ADJ
dem-11741	76	97	price	price	NOUN
dem-11741	76	98	of	of	ADP
dem-11741	76	99	i	i	PROPN
dem-11741	76	100	-	-	PUNCT
dem-11741	76	101	nth	nth	PROPN
dem-11741	76	102	financial	financial	ADJ
dem-11741	76	103	instrument	instrument	NOUN
dem-11741	76	104	on	on	ADP
dem-11741	76	105	t	t	PROPN
dem-11741	76	106	day	day	NOUN
dem-11741	76	107	;	;	PUNCT
dem-11741	76	108			NOUN
dem-11741	76	109	daily	daily	ADJ
dem-11741	76	110	volatility	volatility	NOUN
dem-11741	76	111	estimator	estimator	NOUN
dem-11741	76	112	proposed	propose	VERB
dem-11741	76	113	by	by	ADP
dem-11741	76	114	garman	garman	PROPN
dem-11741	76	115	and	and	CCONJ
dem-11741	76	116	klass	klass	PROPN
dem-11741	76	117	(	(	PUNCT
dem-11741	76	118	1980	1980	NUM
dem-11741	76	119	):	):	PUNCT
dem-11741	76	120	,	,	PUNCT
dem-11741	76	121	)	)	PUNCT
dem-11741	76	122	]	]	X
dem-11741	76	123	ln()][ln(12ln2[)]ln()[ln(5.02	ln()][ln(12ln2[)]ln()[ln(5.02	PROPN
dem-11741	76	124	22	22	NUM
dem-11741	76	125	itititit	itititit	NOUN
dem-11741	76	126	popcplphv	popcplphv	NOUN
dem-11741	76	127			PROPN
dem-11741	76	128	(	(	PUNCT
dem-11741	76	129	3	3	NUM
dem-11741	76	130	)	)	PUNCT
dem-11741	76	131	where	where	SCONJ
dem-11741	76	132	:	:	PUNCT
dem-11741	76	133	pcit	pcit	ADJ
dem-11741	76	134	–	–	PUNCT
dem-11741	76	135	closing	close	VERB
dem-11741	76	136	price	price	NOUN
dem-11741	76	137	of	of	ADP
dem-11741	76	138	i	i	PROPN
dem-11741	76	139	-	-	PUNCT
dem-11741	76	140	nth	nth	PROPN
dem-11741	76	141	financial	financial	ADJ
dem-11741	76	142	instrument	instrument	NOUN
dem-11741	76	143	on	on	ADP
dem-11741	76	144	t	t	PROPN
dem-11741	76	145	day	day	NOUN
dem-11741	76	146	,	,	PUNCT
dem-11741	76	147	poit	poit	NOUN
dem-11741	76	148	–	–	PUNCT
dem-11741	76	149	opening	open	VERB
dem-11741	76	150	price	price	NOUN
dem-11741	76	151	of	of	ADP
dem-11741	76	152	i	i	PROPN
dem-11741	76	153	-	-	PUNCT
dem-11741	76	154	nth	nth	PROPN
dem-11741	76	155	financial	financial	ADJ
dem-11741	76	156	instrument	instrument	NOUN
dem-11741	76	157	on	on	ADP
dem-11741	76	158	t	t	PROPN
dem-11741	76	159	day	day	NOUN
dem-11741	76	160	;	;	PUNCT
dem-11741	76	161			NOUN
dem-11741	76	162	daily	daily	ADJ
dem-11741	76	163	volatility	volatility	NOUN
dem-11741	76	164	estimator	estimator	NOUN
dem-11741	76	165	defined	define	VERB
dem-11741	76	166	by	by	ADP
dem-11741	76	167	rogers	roger	NOUN
dem-11741	76	168	and	and	CCONJ
dem-11741	76	169	satchell	satchell	NOUN
dem-11741	76	170	(	(	PUNCT
dem-11741	76	171	1991	1991	NUM
dem-11741	76	172	):	):	PUNCT
dem-11741	76	173	)	)	PUNCT
dem-11741	76	174	]	]	PUNCT
dem-11741	76	175	.ln())][ln(ln()[ln	.ln())][ln(ln()[ln	PROPN
dem-11741	76	176	(	(	PUNCT
dem-11741	76	177	)	)	PUNCT
dem-11741	76	178	]	]	X
dem-11741	76	179	ln())][ln(ln()[ln(3	ln())][ln(ln()[ln(3	PROPN
dem-11741	76	180	itititit	itititit	NOUN
dem-11741	76	181	itititit	itititit	NOUN
dem-11741	76	182	pcplpopl	pcplpopl	NOUN
dem-11741	76	183	pcphpophv	pcphpophv	NOUN
dem-11741	76	184			PROPN
dem-11741	76	185			NOUN
dem-11741	76	186	(	(	PUNCT
dem-11741	76	187	4	4	NUM
dem-11741	76	188	)	)	PUNCT
dem-11741	76	189	originally	originally	ADV
dem-11741	76	190	,	,	PUNCT
dem-11741	76	191	the	the	DET
dem-11741	76	192	parkinson	parkinson	NOUN
dem-11741	76	193	,	,	PUNCT
dem-11741	76	194	garman	garman	NOUN
dem-11741	76	195	-	-	PUNCT
dem-11741	76	196	klass	klass	PROPN
dem-11741	76	197	,	,	PUNCT
dem-11741	76	198	rogers	rogers	NOUN
dem-11741	76	199	-	-	PUNCT
dem-11741	76	200	satchell	satchell	NOUN
dem-11741	76	201	volatility	volatility	NOUN
dem-11741	76	202	measures	measure	NOUN
dem-11741	76	203	of	of	ADP
dem-11741	76	204	financial	financial	ADJ
dem-11741	76	205	instruments	instrument	NOUN
dem-11741	76	206	prices	price	NOUN
dem-11741	76	207	are	be	AUX
dem-11741	76	208	the	the	DET
dem-11741	76	209	estimators	estimator	NOUN
dem-11741	76	210	of	of	ADP
dem-11741	76	211	unconditionally	unconditionally	ADV
dem-11741	76	212	volatility	volatility	NOUN
dem-11741	76	213	for	for	ADP
dem-11741	76	214	the	the	DET
dem-11741	76	215	geometric	geometric	ADJ
dem-11741	76	216	brownian	brownian	ADJ
dem-11741	76	217	motion	motion	NOUN
dem-11741	76	218	determined	determine	VERB
dem-11741	76	219	for	for	ADP
dem-11741	76	220	time	time	NOUN
dem-11741	76	221	interval	interval	NOUN
dem-11741	76	222	[	[	X
dem-11741	76	223	0	0	NUM
dem-11741	76	224	,	,	PUNCT
dem-11741	76	225	t	t	PROPN
dem-11741	76	226	]	]	PUNCT
dem-11741	76	227	.	.	PUNCT
dem-11741	77	1	therefore	therefore	ADV
dem-11741	77	2	,	,	PUNCT
dem-11741	77	3	all	all	PRON
dem-11741	77	4	of	of	ADP
dem-11741	77	5	analysed	analyse	VERB
dem-11741	77	6	here	here	ADV
dem-11741	77	7	estimators	estimator	NOUN
dem-11741	77	8	are	be	AUX
dem-11741	77	9	derived	derive	VERB
dem-11741	77	10	under	under	ADP
dem-11741	77	11	the	the	DET
dem-11741	77	12	assumptions	assumption	NOUN
dem-11741	77	13	of	of	ADP
dem-11741	77	14	continuous	continuous	ADJ
dem-11741	77	15	sampling	sampling	NOUN
dem-11741	77	16	,	,	PUNCT
dem-11741	77	17	no	no	DET
dem-11741	77	18	bid	bid	NOUN
dem-11741	77	19	-	-	PUNCT
dem-11741	77	20	ask	ask	NOUN
dem-11741	77	21	spread	spread	NOUN
dem-11741	77	22	and	and	CCONJ
dem-11741	77	23	constant	constant	ADJ
dem-11741	77	24	volatility	volatility	NOUN
dem-11741	77	25	.	.	PUNCT
dem-11741	78	1	moreover	moreover	ADV
dem-11741	78	2	,	,	PUNCT
dem-11741	78	3	in	in	ADP
dem-11741	78	4	the	the	DET
dem-11741	78	5	case	case	NOUN
dem-11741	78	6	of	of	ADP
dem-11741	78	7	the	the	DET
dem-11741	78	8	parkinson	parkinson	NOUN
dem-11741	78	9	and	and	CCONJ
dem-11741	78	10	garman	garman	PROPN
dem-11741	78	11	-	-	PUNCT
dem-11741	78	12	klass	klass	PROPN
dem-11741	78	13	estimators	estimator	NOUN
dem-11741	78	14	an	an	DET
dem-11741	78	15	additional	additional	ADJ
dem-11741	78	16	assumption	assumption	NOUN
dem-11741	78	17	refers	refer	VERB
dem-11741	78	18	to	to	ADP
dem-11741	78	19	zero	zero	NUM
dem-11741	78	20	drift	drift	NOUN
dem-11741	78	21	.	.	PUNCT
dem-11741	79	1	it	it	PRON
dem-11741	79	2	is	be	AUX
dem-11741	79	3	worth	worth	ADJ
dem-11741	79	4	attracting	attract	VERB
dem-11741	79	5	attention	attention	NOUN
dem-11741	79	6	on	on	ADP
dem-11741	79	7	włodarczyk	włodarczyk	PROPN
dem-11741	79	8	,	,	PUNCT
dem-11741	79	9	otola	otola	PROPN
dem-11741	79	10	dynamic	dynamic	ADJ
dem-11741	79	11	econometric	econometric	ADJ
dem-11741	79	12	models	model	NOUN
dem-11741	79	13	16	16	NUM
dem-11741	79	14	(	(	PUNCT
dem-11741	79	15	2016	2016	NUM
dem-11741	79	16	)	)	PUNCT
dem-11741	80	1	87–116	87–116	PROPN
dem-11741	80	2	92	92	NUM
dem-11741	80	3	some	some	DET
dem-11741	80	4	properties	property	NOUN
dem-11741	80	5	of	of	ADP
dem-11741	80	6	range	range	NOUN
dem-11741	80	7	-	-	PUNCT
dem-11741	80	8	based	base	VERB
dem-11741	80	9	volatility	volatility	NOUN
dem-11741	80	10	estimators	estimator	NOUN
dem-11741	80	11	,	,	PUNCT
dem-11741	80	12	especially	especially	ADV
dem-11741	80	13	in	in	ADP
dem-11741	80	14	the	the	DET
dem-11741	80	15	case	case	NOUN
dem-11741	80	16	when	when	SCONJ
dem-11741	80	17	one	one	NUM
dem-11741	80	18	day	day	NOUN
dem-11741	80	19	is	be	AUX
dem-11741	80	20	used	use	VERB
dem-11741	80	21	as	as	ADP
dem-11741	80	22	a	a	DET
dem-11741	80	23	unit	unit	NOUN
dem-11741	80	24	of	of	ADP
dem-11741	80	25	time	time	NOUN
dem-11741	80	26	.	.	PUNCT
dem-11741	81	1	it	it	PRON
dem-11741	81	2	was	be	AUX
dem-11741	81	3	proved	prove	VERB
dem-11741	81	4	that	that	SCONJ
dem-11741	81	5	the	the	DET
dem-11741	81	6	garman	garman	PROPN
dem-11741	81	7	-	-	PUNCT
dem-11741	81	8	klass	klass	PROPN
dem-11741	81	9	estimator	estimator	NOUN
dem-11741	81	10	characterized	characterize	VERB
dem-11741	81	11	by	by	ADP
dem-11741	81	12	the	the	DET
dem-11741	81	13	highest	high	ADJ
dem-11741	81	14	efficiency	efficiency	NOUN
dem-11741	81	15	in	in	ADP
dem-11741	81	16	the	the	DET
dem-11741	81	17	case	case	NOUN
dem-11741	81	18	when	when	SCONJ
dem-11741	81	19	the	the	DET
dem-11741	81	20	assumption	assumption	NOUN
dem-11741	81	21	of	of	ADP
dem-11741	81	22	zero	zero	NUM
dem-11741	81	23	drift	drift	NOUN
dem-11741	81	24	was	be	AUX
dem-11741	81	25	met	meet	VERB
dem-11741	81	26	.	.	PUNCT
dem-11741	82	1	the	the	DET
dem-11741	82	2	efficiency	efficiency	NOUN
dem-11741	82	3	of	of	ADP
dem-11741	82	4	rangebased	rangebase	VERB
dem-11741	82	5	volatility	volatility	NOUN
dem-11741	82	6	estimators	estimator	NOUN
dem-11741	82	7	for	for	ADP
dem-11741	82	8	zero	zero	NUM
dem-11741	82	9	drift	drift	NOUN
dem-11741	82	10	are	be	AUX
dem-11741	82	11	as	as	ADV
dem-11741	82	12	follow	follow	VERB
dem-11741	82	13	:	:	PUNCT
dem-11741	82	14	the	the	DET
dem-11741	82	15	parkinson	parkinson	NOUN
dem-11741	82	16	–	–	PUNCT
dem-11741	82	17	4.9	4.9	NUM
dem-11741	82	18	,	,	PUNCT
dem-11741	82	19	the	the	DET
dem-11741	82	20	garman	garman	NOUN
dem-11741	82	21	-	-	PUNCT
dem-11741	82	22	klass	klass	PROPN
dem-11741	82	23	–	–	PUNCT
dem-11741	82	24	7.4	7.4	NUM
dem-11741	82	25	,	,	PUNCT
dem-11741	82	26	the	the	DET
dem-11741	82	27	rogers	roger	NOUN
dem-11741	82	28	-	-	PUNCT
dem-11741	82	29	satchell	satchell	NOUN
dem-11741	82	30	–	–	PUNCT
dem-11741	82	31	6.0	6.0	NUM
dem-11741	82	32	and	and	CCONJ
dem-11741	82	33	they	they	PRON
dem-11741	82	34	are	be	AUX
dem-11741	82	35	significantly	significantly	ADV
dem-11741	82	36	higher	high	ADJ
dem-11741	82	37	than	than	ADP
dem-11741	82	38	the	the	DET
dem-11741	82	39	efficiency	efficiency	NOUN
dem-11741	82	40	of	of	ADP
dem-11741	82	41	simply	simply	ADV
dem-11741	82	42	volatility	volatility	NOUN
dem-11741	82	43	estimator	estimator	NOUN
dem-11741	82	44	(	(	PUNCT
dem-11741	82	45	based	base	VERB
dem-11741	82	46	on	on	ADP
dem-11741	82	47	squared	square	VERB
dem-11741	82	48	daily	daily	ADJ
dem-11741	82	49	returns	return	NOUN
dem-11741	82	50	)	)	PUNCT
dem-11741	82	51	equals	equal	VERB
dem-11741	82	52	by	by	ADP
dem-11741	82	53	definition	definition	NOUN
dem-11741	82	54	1	1	NUM
dem-11741	82	55	(	(	PUNCT
dem-11741	82	56	molnár	molnár	PROPN
dem-11741	82	57	,	,	PUNCT
dem-11741	82	58	2012	2012	NUM
dem-11741	82	59	)	)	PUNCT
dem-11741	82	60	.	.	PUNCT
dem-11741	83	1	for	for	ADP
dem-11741	83	2	daily	daily	ADJ
dem-11741	83	3	financial	financial	ADJ
dem-11741	83	4	time	time	NOUN
dem-11741	83	5	series	series	NOUN
dem-11741	83	6	,	,	PUNCT
dem-11741	83	7	mean	mean	VERB
dem-11741	83	8	return	return	NOUN
dem-11741	83	9	is	be	AUX
dem-11741	83	10	often	often	ADV
dem-11741	83	11	much	much	ADV
dem-11741	83	12	smaller	small	ADJ
dem-11741	83	13	than	than	ADP
dem-11741	83	14	its	its	PRON
dem-11741	83	15	standard	standard	ADJ
dem-11741	83	16	deviation	deviation	NOUN
dem-11741	83	17	,	,	PUNCT
dem-11741	83	18	which	which	PRON
dem-11741	83	19	is	be	AUX
dem-11741	83	20	in	in	ADP
dem-11741	83	21	line	line	NOUN
dem-11741	83	22	with	with	ADP
dem-11741	83	23	the	the	DET
dem-11741	83	24	assumption	assumption	NOUN
dem-11741	83	25	of	of	ADP
dem-11741	83	26	zero	zero	NUM
dem-11741	83	27	drift	drift	NOUN
dem-11741	83	28	.	.	PUNCT
dem-11741	84	1	fiszeder	fiszeder	NOUN
dem-11741	84	2	and	and	CCONJ
dem-11741	84	3	perczak	perczak	NOUN
dem-11741	84	4	(	(	PUNCT
dem-11741	84	5	2013	2013	NUM
dem-11741	84	6	)	)	PUNCT
dem-11741	84	7	derived	derive	VERB
dem-11741	84	8	the	the	DET
dem-11741	84	9	expected	expect	VERB
dem-11741	84	10	values	value	NOUN
dem-11741	84	11	of	of	ADP
dem-11741	84	12	the	the	DET
dem-11741	84	13	parkinson	parkinson	NOUN
dem-11741	84	14	and	and	CCONJ
dem-11741	84	15	garman	garman	NOUN
dem-11741	84	16	-	-	PUNCT
dem-11741	84	17	klass	klass	PROPN
dem-11741	84	18	estimators	estimator	NOUN
dem-11741	84	19	for	for	ADP
dem-11741	84	20	the	the	DET
dem-11741	84	21	arithmetic	arithmetic	ADJ
dem-11741	84	22	brownian	brownian	ADJ
dem-11741	84	23	motion	motion	NOUN
dem-11741	84	24	with	with	ADP
dem-11741	84	25	non	non	ADJ
dem-11741	84	26	-	-	ADJ
dem-11741	84	27	zero	zero	NUM
dem-11741	84	28	drift	drift	NOUN
dem-11741	84	29	and	and	CCONJ
dem-11741	84	30	they	they	PRON
dem-11741	84	31	proved	prove	VERB
dem-11741	84	32	the	the	DET
dem-11741	84	33	unbiasedness	unbiasedness	NOUN
dem-11741	84	34	of	of	ADP
dem-11741	84	35	the	the	DET
dem-11741	84	36	parkinson	parkinson	NOUN
dem-11741	84	37	and	and	CCONJ
dem-11741	84	38	garmann	garmann	PROPN
dem-11741	84	39	-	-	PUNCT
dem-11741	84	40	klass	klass	NOUN
dem-11741	84	41	estimators	estimator	NOUN
dem-11741	84	42	for	for	ADP
dem-11741	84	43	the	the	DET
dem-11741	84	44	process	process	NOUN
dem-11741	84	45	with	with	ADP
dem-11741	84	46	a	a	DET
dem-11741	84	47	zero	zero	NUM
dem-11741	84	48	drift	drift	NOUN
dem-11741	84	49	and	and	CCONJ
dem-11741	84	50	of	of	ADP
dem-11741	84	51	the	the	DET
dem-11741	84	52	rogers	roger	NOUN
dem-11741	84	53	-	-	PUNCT
dem-11741	84	54	satchell	satchell	NOUN
dem-11741	84	55	estimator	estimator	NOUN
dem-11741	84	56	for	for	ADP
dem-11741	84	57	any	any	DET
dem-11741	84	58	drift	drift	NOUN
dem-11741	84	59	.	.	PUNCT
dem-11741	85	1	it	it	PRON
dem-11741	85	2	is	be	AUX
dem-11741	85	3	worth	worth	ADJ
dem-11741	85	4	stressing	stress	VERB
dem-11741	85	5	that	that	SCONJ
dem-11741	85	6	the	the	DET
dem-11741	85	7	square	square	ADJ
dem-11741	85	8	root	root	NOUN
dem-11741	85	9	of	of	ADP
dem-11741	85	10	any	any	DET
dem-11741	85	11	range	range	NOUN
dem-11741	85	12	-	-	PUNCT
dem-11741	85	13	based	base	VERB
dem-11741	85	14	volatility	volatility	NOUN
dem-11741	85	15	estimators	estimator	NOUN
dem-11741	85	16	is	be	AUX
dem-11741	85	17	a	a	DET
dem-11741	85	18	biased	biased	ADJ
dem-11741	85	19	estimator	estimator	NOUN
dem-11741	85	20	of	of	ADP
dem-11741	85	21	standard	standard	ADJ
dem-11741	85	22	deviation	deviation	NOUN
dem-11741	85	23	of	of	ADP
dem-11741	85	24	a	a	DET
dem-11741	85	25	brownian	brownian	ADJ
dem-11741	85	26	motion	motion	NOUN
dem-11741	85	27	,	,	PUNCT
dem-11741	85	28	but	but	CCONJ
dem-11741	85	29	this	this	DET
dem-11741	85	30	bias	bias	NOUN
dem-11741	85	31	is	be	AUX
dem-11741	85	32	rather	rather	ADV
dem-11741	85	33	small	small	ADJ
dem-11741	85	34	(	(	PUNCT
dem-11741	85	35	3	3	NUM
dem-11741	85	36	–	–	SYM
dem-11741	85	37	4	4	NUM
dem-11741	85	38	%	%	NOUN
dem-11741	85	39	)	)	PUNCT
dem-11741	85	40	compared	compare	VERB
dem-11741	85	41	to	to	ADP
dem-11741	85	42	bias	bias	NOUN
dem-11741	85	43	of	of	ADP
dem-11741	85	44	the	the	DET
dem-11741	85	45	square	square	ADJ
dem-11741	85	46	root	root	NOUN
dem-11741	85	47	of	of	ADP
dem-11741	85	48	the	the	DET
dem-11741	85	49	simply	simply	ADV
dem-11741	85	50	volatility	volatility	NOUN
dem-11741	85	51	estimator	estimator	NOUN
dem-11741	85	52	(	(	PUNCT
dem-11741	85	53	25	25	NUM
dem-11741	85	54	%	%	NOUN
dem-11741	85	55	)	)	PUNCT
dem-11741	85	56	.	.	PUNCT
dem-11741	86	1	the	the	DET
dem-11741	86	2	questionable	questionable	ADJ
dem-11741	86	3	issue	issue	NOUN
dem-11741	86	4	is	be	AUX
dem-11741	86	5	the	the	DET
dem-11741	86	6	use	use	NOUN
dem-11741	86	7	of	of	ADP
dem-11741	86	8	the	the	DET
dem-11741	86	9	range	range	NOUN
dem-11741	86	10	-	-	PUNCT
dem-11741	86	11	based	base	VERB
dem-11741	86	12	volatility	volatility	NOUN
dem-11741	86	13	estimators	estimator	NOUN
dem-11741	86	14	for	for	ADP
dem-11741	86	15	the	the	DET
dem-11741	86	16	standardization	standardization	NOUN
dem-11741	86	17	of	of	ADP
dem-11741	86	18	the	the	DET
dem-11741	86	19	returns	return	NOUN
dem-11741	86	20	.	.	PUNCT
dem-11741	87	1	it	it	PRON
dem-11741	87	2	was	be	AUX
dem-11741	87	3	shown	show	VERB
dem-11741	87	4	that	that	SCONJ
dem-11741	87	5	returns	return	NOUN
dem-11741	87	6	normalized	normalize	VERB
dem-11741	87	7	by	by	ADP
dem-11741	87	8	means	mean	NOUN
dem-11741	87	9	of	of	ADP
dem-11741	87	10	the	the	DET
dem-11741	87	11	garman	garman	PROPN
dem-11741	87	12	-	-	PUNCT
dem-11741	87	13	klass	klass	PROPN
dem-11741	87	14	estimator	estimator	NOUN
dem-11741	87	15	were	be	AUX
dem-11741	87	16	approximately	approximately	ADV
dem-11741	87	17	normally	normally	ADV
dem-11741	87	18	distributed	distribute	VERB
dem-11741	87	19	.	.	PUNCT
dem-11741	88	1	another	another	DET
dem-11741	88	2	disadvantage	disadvantage	NOUN
dem-11741	88	3	concerning	concern	VERB
dem-11741	88	4	the	the	DET
dem-11741	88	5	use	use	NOUN
dem-11741	88	6	of	of	ADP
dem-11741	88	7	range	range	NOUN
dem-11741	88	8	estimators	estimator	NOUN
dem-11741	88	9	in	in	ADP
dem-11741	88	10	practice	practice	NOUN
dem-11741	88	11	is	be	AUX
dem-11741	88	12	failure	failure	NOUN
dem-11741	88	13	to	to	PART
dem-11741	88	14	comply	comply	VERB
dem-11741	88	15	with	with	ADP
dem-11741	88	16	the	the	DET
dem-11741	88	17	assumptions	assumption	NOUN
dem-11741	88	18	of	of	ADP
dem-11741	88	19	continuous	continuous	ADJ
dem-11741	88	20	sampling	sampling	NOUN
dem-11741	88	21	.	.	PUNCT
dem-11741	89	1	prices	price	NOUN
dem-11741	89	2	are	be	AUX
dem-11741	89	3	observed	observe	VERB
dem-11741	89	4	at	at	ADP
dem-11741	89	5	discrete	discrete	ADJ
dem-11741	89	6	points	point	NOUN
dem-11741	89	7	in	in	ADP
dem-11741	89	8	time	time	NOUN
dem-11741	89	9	(	(	PUNCT
dem-11741	89	10	vector	vector	NOUN
dem-11741	89	11	of	of	ADP
dem-11741	89	12	pot	pot	NOUN
dem-11741	89	13	,	,	PUNCT
dem-11741	89	14	pht	pht	PROPN
dem-11741	89	15	,	,	PUNCT
dem-11741	89	16	plt	plt	NOUN
dem-11741	89	17	,	,	PUNCT
dem-11741	89	18	pct	pct	NOUN
dem-11741	89	19	for	for	ADP
dem-11741	89	20	each	each	DET
dem-11741	89	21	day	day	NOUN
dem-11741	89	22	)	)	PUNCT
dem-11741	89	23	and	and	CCONJ
dem-11741	89	24	it	it	PRON
dem-11741	89	25	causes	cause	VERB
dem-11741	89	26	that	that	SCONJ
dem-11741	89	27	the	the	DET
dem-11741	89	28	observed	observe	VERB
dem-11741	89	29	high	high	ADJ
dem-11741	89	30	price	price	NOUN
dem-11741	89	31	is	be	AUX
dem-11741	89	32	below	below	ADP
dem-11741	89	33	the	the	DET
dem-11741	89	34	true	true	ADJ
dem-11741	89	35	high	high	ADJ
dem-11741	89	36	price	price	NOUN
dem-11741	89	37	and	and	CCONJ
dem-11741	89	38	observed	observe	VERB
dem-11741	89	39	low	low	ADJ
dem-11741	89	40	price	price	NOUN
dem-11741	89	41	is	be	AUX
dem-11741	89	42	above	above	ADP
dem-11741	89	43	the	the	DET
dem-11741	89	44	true	true	ADJ
dem-11741	89	45	low	low	ADJ
dem-11741	89	46	price	price	NOUN
dem-11741	89	47	.	.	PUNCT
dem-11741	90	1	bid	bid	NOUN
dem-11741	90	2	-	-	PUNCT
dem-11741	90	3	spread	spread	VERB
dem-11741	90	4	effect	effect	NOUN
dem-11741	90	5	works	work	VERB
dem-11741	90	6	in	in	ADP
dem-11741	90	7	the	the	DET
dem-11741	90	8	opposite	opposite	ADJ
dem-11741	90	9	direction	direction	NOUN
dem-11741	90	10	.	.	PUNCT
dem-11741	91	1	these	these	DET
dem-11741	91	2	two	two	NUM
dem-11741	91	3	effects	effect	NOUN
dem-11741	91	4	are	be	AUX
dem-11741	91	5	small	small	ADJ
dem-11741	91	6	for	for	ADP
dem-11741	91	7	liquid	liquid	ADJ
dem-11741	91	8	stocks	stock	NOUN
dem-11741	91	9	(	(	PUNCT
dem-11741	91	10	molnár	molnár	NOUN
dem-11741	91	11	,	,	PUNCT
dem-11741	91	12	2012	2012	NUM
dem-11741	91	13	)	)	PUNCT
dem-11741	91	14	.	.	PUNCT
dem-11741	92	1	a	a	DET
dem-11741	92	2	debatable	debatable	ADJ
dem-11741	92	3	question	question	NOUN
dem-11741	92	4	is	be	AUX
dem-11741	92	5	also	also	ADV
dem-11741	92	6	the	the	DET
dem-11741	92	7	adjustment	adjustment	NOUN
dem-11741	92	8	of	of	ADP
dem-11741	92	9	range	range	NOUN
dem-11741	92	10	-	-	PUNCT
dem-11741	92	11	based	base	VERB
dem-11741	92	12	volatility	volatility	NOUN
dem-11741	92	13	estimators	estimator	NOUN
dem-11741	92	14	for	for	ADP
dem-11741	92	15	the	the	DET
dem-11741	92	16	opening	opening	NOUN
dem-11741	92	17	jumps	jump	NOUN
dem-11741	92	18	,	,	PUNCT
dem-11741	92	19	resulting	result	VERB
dem-11741	92	20	from	from	ADP
dem-11741	92	21	the	the	DET
dem-11741	92	22	situation	situation	NOUN
dem-11741	92	23	that	that	SCONJ
dem-11741	92	24	most	most	ADJ
dem-11741	92	25	of	of	ADP
dem-11741	92	26	the	the	DET
dem-11741	92	27	assets	asset	NOUN
dem-11741	92	28	are	be	AUX
dem-11741	92	29	not	not	PART
dem-11741	92	30	traded	trade	VERB
dem-11741	92	31	continuously	continuously	ADV
dem-11741	92	32	for	for	ADP
dem-11741	92	33	24h	24h	NOUN
dem-11741	92	34	a	a	DET
dem-11741	92	35	day	day	NOUN
dem-11741	92	36	(	(	PUNCT
dem-11741	92	37	molnár	molnár	NOUN
dem-11741	92	38	,	,	PUNCT
dem-11741	92	39	2012	2012	NUM
dem-11741	92	40	;	;	PUNCT
dem-11741	92	41	fiszeder	fiszeder	NOUN
dem-11741	92	42	and	and	CCONJ
dem-11741	92	43	perczak	perczak	NOUN
dem-11741	92	44	,	,	PUNCT
dem-11741	92	45	2013	2013	NUM
dem-11741	92	46	)	)	PUNCT
dem-11741	92	47	.	.	PUNCT
dem-11741	93	1	sharma	sharma	PROPN
dem-11741	93	2	et	et	PROPN
dem-11741	93	3	al	al	PROPN
dem-11741	93	4	.	.	PROPN
dem-11741	93	5	(	(	PUNCT
dem-11741	93	6	2014	2014	NUM
dem-11741	93	7	)	)	PUNCT
dem-11741	93	8	limited	limit	VERB
dem-11741	93	9	their	their	PRON
dem-11741	93	10	empirical	empirical	ADJ
dem-11741	93	11	studies	study	NOUN
dem-11741	93	12	to	to	ADP
dem-11741	93	13	modelling	model	VERB
dem-11741	93	14	the	the	DET
dem-11741	93	15	firm	firm	ADJ
dem-11741	93	16	volatility	volatility	NOUN
dem-11741	93	17	shocks	shock	NOUN
dem-11741	93	18	(	(	PUNCT
dem-11741	93	19	error	error	NOUN
dem-11741	93	20	term	term	NOUN
dem-11741	93	21	)	)	PUNCT
dem-11741	93	22	by	by	ADP
dem-11741	93	23	using	use	VERB
dem-11741	93	24	garch(1,1	garch(1,1	NOUN
dem-11741	93	25	)	)	PUNCT
dem-11741	93	26	model	model	NOUN
dem-11741	93	27	with	with	ADP
dem-11741	93	28	the	the	DET
dem-11741	93	29	conditional	conditional	ADJ
dem-11741	93	30	normal	normal	ADJ
dem-11741	93	31	distribution	distribution	NOUN
dem-11741	93	32	of	of	ADP
dem-11741	93	33	innovations	innovation	NOUN
dem-11741	93	34	.	.	PUNCT
dem-11741	94	1	in	in	ADP
dem-11741	94	2	the	the	DET
dem-11741	94	3	above	above	ADJ
dem-11741	94	4	equation	equation	NOUN
dem-11741	94	5	the	the	DET
dem-11741	94	6	authors	author	NOUN
dem-11741	94	7	used	use	VERB
dem-11741	94	8	full	full	ADJ
dem-11741	94	9	available	available	ADJ
dem-11741	94	10	on	on	ADP
dem-11741	94	11	a	a	DET
dem-11741	94	12	given	give	VERB
dem-11741	94	13	day	day	NOUN
dem-11741	94	14	information	information	NOUN
dem-11741	94	15	on	on	ADP
dem-11741	94	16	the	the	DET
dem-11741	94	17	market	market	NOUN
dem-11741	94	18	portfolio	portfolio	NOUN
dem-11741	94	19	(	(	PUNCT
dem-11741	94	20	opening	opening	NOUN
dem-11741	94	21	price	price	NOUN
dem-11741	94	22	,	,	PUNCT
dem-11741	94	23	the	the	DET
dem-11741	94	24	lowest	low	ADJ
dem-11741	94	25	and	and	CCONJ
dem-11741	94	26	the	the	DET
dem-11741	94	27	highest	high	ADJ
dem-11741	94	28	price	price	NOUN
dem-11741	94	29	,	,	PUNCT
dem-11741	94	30	closing	closing	NOUN
dem-11741	94	31	price	price	NOUN
dem-11741	94	32	)	)	PUNCT
dem-11741	94	33	,	,	PUNCT
dem-11741	94	34	which	which	PRON
dem-11741	94	35	will	will	AUX
dem-11741	94	36	allow	allow	VERB
dem-11741	94	37	us	we	PRON
dem-11741	94	38	to	to	PART
dem-11741	94	39	eliminate	eliminate	VERB
dem-11741	94	40	the	the	DET
dem-11741	94	41	effect	effect	NOUN
dem-11741	94	42	of	of	ADP
dem-11741	94	43	influencing	influence	VERB
dem-11741	94	44	the	the	DET
dem-11741	94	45	research	research	NOUN
dem-11741	94	46	results	result	VERB
dem-11741	94	47	with	with	ADP
dem-11741	94	48	one	one	NUM
dem-11741	94	49	type	type	NOUN
dem-11741	94	50	of	of	ADP
dem-11741	94	51	data	datum	NOUN
dem-11741	94	52	only	only	ADV
dem-11741	94	53	–	–	PUNCT
dem-11741	94	54	closing	close	VERB
dem-11741	94	55	price	price	NOUN
dem-11741	94	56	.	.	PUNCT
dem-11741	95	1	for	for	ADP
dem-11741	95	2	each	each	DET
dem-11741	95	3	analyzed	analyze	VERB
dem-11741	95	4	series	series	NOUN
dem-11741	95	5	of	of	ADP
dem-11741	95	6	share	share	NOUN
dem-11741	95	7	prices	price	NOUN
dem-11741	95	8	volatility	volatility	NOUN
dem-11741	95	9	of	of	ADP
dem-11741	95	10	the	the	DET
dem-11741	95	11	given	give	VERB
dem-11741	95	12	enterprises	enterprise	NOUN
dem-11741	95	13	the	the	DET
dem-11741	95	14	arfima(p	arfima(p	NOUN
dem-11741	95	15	,	,	PUNCT
dem-11741	95	16	d	d	NOUN
dem-11741	95	17	,	,	PUNCT
dem-11741	95	18	q)-figarch(p	q)-figarch(p	NOUN
dem-11741	95	19	,	,	PUNCT
dem-11741	95	20	d	d	NOUN
dem-11741	95	21	,	,	PUNCT
dem-11741	95	22	q	q	NOUN
dem-11741	95	23	)	)	PUNCT
dem-11741	95	24	models	model	NOUN
dem-11741	95	25	were	be	AUX
dem-11741	95	26	chosen	choose	VERB
dem-11741	95	27	individually	individually	ADV
dem-11741	95	28	in	in	ADP
dem-11741	95	29	accordance	accordance	NOUN
dem-11741	95	30	with	with	ADP
dem-11741	95	31	the	the	DET
dem-11741	95	32	following	following	ADJ
dem-11741	95	33	stages	stage	NOUN
dem-11741	95	34	:	:	PUNCT
dem-11741	95	35	analysis	analysis	NOUN
dem-11741	95	36	of	of	ADP
dem-11741	95	37	the	the	DET
dem-11741	95	38	relationship	relationship	NOUN
dem-11741	95	39	between	between	ADP
dem-11741	95	40	market	market	NOUN
dem-11741	95	41	volatility	volatility	NOUN
dem-11741	95	42	and	and	CCONJ
dem-11741	95	43	firms	firm	NOUN
dem-11741	95	44	volatility	volatility	NOUN
dem-11741	95	45	…	…	SYM
dem-11741	95	46	dynamic	dynamic	ADJ
dem-11741	95	47	econometric	econometric	ADJ
dem-11741	95	48	models	model	NOUN
dem-11741	95	49	16	16	NUM
dem-11741	95	50	(	(	PUNCT
dem-11741	95	51	2016	2016	NUM
dem-11741	95	52	)	)	PUNCT
dem-11741	96	1	87–116	87–116	PROPN
dem-11741	96	2	93	93	NUM
dem-11741	96	3			NOUN
dem-11741	96	4	specification	specification	NOUN
dem-11741	96	5	of	of	ADP
dem-11741	96	6	the	the	DET
dem-11741	96	7	equation	equation	NOUN
dem-11741	96	8	describing	describe	VERB
dem-11741	96	9	the	the	DET
dem-11741	96	10	relation	relation	NOUN
dem-11741	96	11	between	between	ADP
dem-11741	96	12	market	market	NOUN
dem-11741	96	13	volatility	volatility	NOUN
dem-11741	96	14	and	and	CCONJ
dem-11741	96	15	firm	firm	ADJ
dem-11741	96	16	volatility	volatility	NOUN
dem-11741	96	17	(	(	PUNCT
dem-11741	96	18	1	1	NUM
dem-11741	96	19	)	)	PUNCT
dem-11741	96	20	,	,	PUNCT
dem-11741	96	21	adjusted	adjust	VERB
dem-11741	96	22	for	for	ADP
dem-11741	96	23	possible	possible	ADJ
dem-11741	96	24	autocorrelation	autocorrelation	NOUN
dem-11741	96	25	dependencies	dependency	NOUN
dem-11741	96	26	occurring	occur	VERB
dem-11741	96	27	in	in	ADP
dem-11741	96	28	the	the	DET
dem-11741	96	29	company	company	NOUN
dem-11741	96	30	share	share	NOUN
dem-11741	96	31	volatility	volatility	NOUN
dem-11741	96	32	series	series	NOUN
dem-11741	96	33	;	;	PUNCT
dem-11741	96	34			NOUN
dem-11741	96	35	specification	specification	NOUN
dem-11741	96	36	of	of	ADP
dem-11741	96	37	the	the	DET
dem-11741	96	38	conditional	conditional	ADJ
dem-11741	96	39	variance	variance	NOUN
dem-11741	96	40	equation	equation	NOUN
dem-11741	96	41	describing	describe	VERB
dem-11741	96	42	the	the	DET
dem-11741	96	43	arch	arch	ADJ
dem-11741	96	44	effect	effect	NOUN
dem-11741	96	45	in	in	ADP
dem-11741	96	46	the	the	DET
dem-11741	96	47	series	series	NOUN
dem-11741	96	48	of	of	ADP
dem-11741	96	49	residuals	residual	NOUN
dem-11741	96	50	from	from	ADP
dem-11741	96	51	the	the	DET
dem-11741	96	52	equation	equation	NOUN
dem-11741	96	53	(	(	PUNCT
dem-11741	96	54	1	1	NUM
dem-11741	96	55	)	)	PUNCT
dem-11741	96	56	and	and	CCONJ
dem-11741	96	57	the	the	DET
dem-11741	96	58	selection	selection	NOUN
dem-11741	96	59	of	of	ADP
dem-11741	96	60	the	the	DET
dem-11741	96	61	form	form	NOUN
dem-11741	96	62	of	of	ADP
dem-11741	96	63	innovation	innovation	NOUN
dem-11741	96	64	density	density	NOUN
dem-11741	96	65	function	function	NOUN
dem-11741	96	66	.	.	PUNCT
dem-11741	97	1	the	the	DET
dem-11741	97	2	fractionally	fractionally	ADV
dem-11741	97	3	integrated	integrate	VERB
dem-11741	97	4	autoregressive	autoregressive	ADJ
dem-11741	97	5	moving	move	VERB
dem-11741	97	6	average	average	ADJ
dem-11741	97	7	process	process	NOUN
dem-11741	97	8	(	(	PUNCT
dem-11741	97	9	arfima	arfima	PROPN
dem-11741	97	10	)	)	PUNCT
dem-11741	97	11	is	be	AUX
dem-11741	97	12	more	more	ADV
dem-11741	97	13	flexible	flexible	ADJ
dem-11741	97	14	econometric	econometric	ADJ
dem-11741	97	15	tool	tool	NOUN
dem-11741	97	16	for	for	ADP
dem-11741	97	17	modelling	model	VERB
dem-11741	97	18	the	the	DET
dem-11741	97	19	conditional	conditional	ADJ
dem-11741	97	20	mean	mean	NOUN
dem-11741	97	21	process	process	NOUN
dem-11741	97	22	than	than	ADP
dem-11741	97	23	arma	arma	NOUN
dem-11741	97	24	model	model	NOUN
dem-11741	97	25	in	in	ADP
dem-11741	97	26	the	the	DET
dem-11741	97	27	situation	situation	NOUN
dem-11741	97	28	when	when	SCONJ
dem-11741	97	29	it	it	PRON
dem-11741	97	30	exhibits	exhibit	VERB
dem-11741	97	31	long	long	ADJ
dem-11741	97	32	memory	memory	NOUN
dem-11741	97	33	properties	property	NOUN
dem-11741	97	34	.	.	PUNCT
dem-11741	98	1	similarly	similarly	ADV
dem-11741	98	2	,	,	PUNCT
dem-11741	98	3	the	the	DET
dem-11741	98	4	fractionallly	fractionallly	ADV
dem-11741	98	5	integrated	integrate	VERB
dem-11741	98	6	generalized	generalized	ADJ
dem-11741	98	7	autoregressive	autoregressive	ADJ
dem-11741	98	8	conditional	conditional	ADJ
dem-11741	98	9	heteroskedasticity	heteroskedasticity	NOUN
dem-11741	98	10	process	process	NOUN
dem-11741	98	11	,	,	PUNCT
dem-11741	98	12	constituting	constitute	VERB
dem-11741	98	13	a	a	DET
dem-11741	98	14	generalization	generalization	NOUN
dem-11741	98	15	of	of	ADP
dem-11741	98	16	the	the	DET
dem-11741	98	17	garch	garch	NOUN
dem-11741	98	18	model	model	NOUN
dem-11741	98	19	,	,	PUNCT
dem-11741	98	20	enables	enable	VERB
dem-11741	98	21	for	for	ADP
dem-11741	98	22	capturing	capture	VERB
dem-11741	98	23	the	the	DET
dem-11741	98	24	persistence	persistence	NOUN
dem-11741	98	25	in	in	ADP
dem-11741	98	26	the	the	DET
dem-11741	98	27	conditional	conditional	ADJ
dem-11741	98	28	variance	variance	NOUN
dem-11741	98	29	process	process	NOUN
dem-11741	98	30	(	(	PUNCT
dem-11741	98	31	bollerslev	bollerslev	NOUN
dem-11741	98	32	and	and	CCONJ
dem-11741	98	33	mikkelsen	mikkelsen	NOUN
dem-11741	98	34	,	,	PUNCT
dem-11741	98	35	1996	1996	NUM
dem-11741	98	36	)	)	PUNCT
dem-11741	98	37	.	.	PUNCT
dem-11741	99	1	however	however	ADV
dem-11741	99	2	,	,	PUNCT
dem-11741	99	3	market	market	NOUN
dem-11741	99	4	shocks	shock	NOUN
dem-11741	99	5	have	have	VERB
dem-11741	99	6	a	a	DET
dem-11741	99	7	simultaneous	simultaneous	ADJ
dem-11741	99	8	impact	impact	NOUN
dem-11741	99	9	on	on	ADP
dem-11741	99	10	the	the	DET
dem-11741	99	11	conditional	conditional	ADJ
dem-11741	99	12	mean	mean	NOUN
dem-11741	99	13	and	and	CCONJ
dem-11741	99	14	conditional	conditional	ADJ
dem-11741	99	15	variance	variance	NOUN
dem-11741	99	16	.	.	PUNCT
dem-11741	100	1	therefore	therefore	ADV
dem-11741	100	2	,	,	PUNCT
dem-11741	100	3	some	some	DET
dem-11741	100	4	recent	recent	ADJ
dem-11741	100	5	empirical	empirical	ADJ
dem-11741	100	6	studies	study	NOUN
dem-11741	100	7	have	have	AUX
dem-11741	100	8	focused	focus	VERB
dem-11741	100	9	on	on	ADP
dem-11741	100	10	the	the	DET
dem-11741	100	11	analyzing	analyzing	NOUN
dem-11741	100	12	the	the	DET
dem-11741	100	13	relationship	relationship	NOUN
dem-11741	100	14	between	between	ADP
dem-11741	100	15	the	the	DET
dem-11741	100	16	conditional	conditional	ADJ
dem-11741	100	17	mean	mean	NOUN
dem-11741	100	18	and	and	CCONJ
dem-11741	100	19	the	the	DET
dem-11741	100	20	conditional	conditional	ADJ
dem-11741	100	21	variance	variance	NOUN
dem-11741	100	22	of	of	ADP
dem-11741	100	23	the	the	DET
dem-11741	100	24	process	process	NOUN
dem-11741	100	25	that	that	PRON
dem-11741	100	26	simultaneously	simultaneously	ADV
dem-11741	100	27	exhibits	exhibit	VERB
dem-11741	100	28	long	long	ADJ
dem-11741	100	29	memory	memory	NOUN
dem-11741	100	30	properties	property	NOUN
dem-11741	100	31	(	(	PUNCT
dem-11741	100	32	beine	beine	NOUN
dem-11741	100	33	et	et	PROPN
dem-11741	100	34	al	al	PROPN
dem-11741	100	35	.	.	PROPN
dem-11741	100	36	,	,	PUNCT
dem-11741	100	37	2002	2002	NUM
dem-11741	100	38	;	;	PUNCT
dem-11741	100	39	fiszeder	fiszeder	NOUN
dem-11741	100	40	,	,	PUNCT
dem-11741	100	41	2009	2009	NUM
dem-11741	100	42	;	;	PUNCT
dem-11741	100	43	kang	kang	PROPN
dem-11741	100	44	and	and	CCONJ
dem-11741	100	45	yoon	yoon	PROPN
dem-11741	100	46	,	,	PUNCT
dem-11741	100	47	2012	2012	NUM
dem-11741	100	48	)	)	PUNCT
dem-11741	100	49	.	.	PUNCT
dem-11741	101	1	the	the	DET
dem-11741	101	2	arfima(p	arfima(p	PROPN
dem-11741	101	3	,	,	PUNCT
dem-11741	101	4	d	d	NOUN
dem-11741	101	5	,	,	PUNCT
dem-11741	101	6	q)-figarch(p	q)-figarch(p	NOUN
dem-11741	101	7	,	,	PUNCT
dem-11741	101	8	d	d	NOUN
dem-11741	101	9	,	,	PUNCT
dem-11741	101	10	q	q	NOUN
dem-11741	101	11	)	)	PUNCT
dem-11741	101	12	model	model	NOUN
dem-11741	101	13	is	be	AUX
dem-11741	101	14	defined	define	VERB
dem-11741	101	15	in	in	ADP
dem-11741	101	16	the	the	DET
dem-11741	101	17	following	follow	VERB
dem-11741	101	18	way	way	NOUN
dem-11741	101	19	(	(	PUNCT
dem-11741	101	20	arouri	arouri	PROPN
dem-11741	101	21	et	et	PROPN
dem-11741	101	22	al	al	PROPN
dem-11741	101	23	.	.	PROPN
dem-11741	101	24	,	,	PUNCT
dem-11741	101	25	2012	2012	NUM
dem-11741	101	26	):	):	PUNCT
dem-11741	101	27	,	,	PUNCT
dem-11741	101	28	)	)	PUNCT
dem-11741	101	29	]	]	X
dem-11741	101	30	(	(	PUNCT
dem-11741	101	31	1[)1	1[)1	NOUN
dem-11741	101	32	)	)	PUNCT
dem-11741	101	33	(	(	PUNCT
dem-11741	101	34	(	(	PUNCT
dem-11741	101	35	)	)	PUNCT
dem-11741	101	36	(	(	PUNCT
dem-11741	101	37	)	)	PUNCT
dem-11741	101	38	(	(	PUNCT
dem-11741	101	39	)	)	PUNCT
dem-11741	101	40	1	1	NUM
dem-11741	101	41	)	)	PUNCT
dem-11741	101	42	(	(	PUNCT
dem-11741	101	43	(	(	PUNCT
dem-11741	101	44	2	2	NUM
dem-11741	101	45	2	2	NUM
dem-11741	101	46	ttt	ttt	NOUN
dem-11741	101	47	tt	tt	PROPN
dem-11741	102	1	d	d	X
dem-11741	102	2	ttt	ttt	PROPN
dem-11741	102	3	ttt	ttt	PROPN
dem-11741	102	4	d	d	PROPN
dem-11741	102	5	h	h	PROPN
dem-11741	102	6	lll	lll	PROPN
dem-11741	102	7	h	h	PROPN
dem-11741	102	8	lyll	lyll	ADJ
dem-11741	102	9			ADJ
dem-11741	102	10			NOUN
dem-11741	102	11			NUM
dem-11741	102	12			PROPN
dem-11741	102	13			NOUN
dem-11741	102	14			PROPN
dem-11741	102	15			X
dem-11741	102	16			VERB
dem-11741	102	17	(	(	PUNCT
dem-11741	102	18	5	5	NUM
dem-11741	102	19	)	)	PUNCT
dem-11741	102	20	where	where	SCONJ
dem-11741	102	21	:	:	PUNCT
dem-11741	102	22	l	l	NOUN
dem-11741	102	23	denotes	denote	VERB
dem-11741	102	24	a	a	DET
dem-11741	102	25	lag	lag	NOUN
dem-11741	102	26	operator	operator	NOUN
dem-11741	102	27	;	;	PUNCT
dem-11741	102	28			PRON
dem-11741	102	29			VERB
dem-11741	102	30			PRON
dem-11741	102	31			NOUN
dem-11741	102	32			NUM
dem-11741	102	33			NOUN
dem-11741	102	34			NOUN
dem-11741	102	35			X
dem-11741	102	36			NOUN
dem-11741	102	37			PROPN
dem-11741	102	38			PROPN
dem-11741	102	39			PROPN
dem-11741	102	40			NOUN
dem-11741	102	41			NOUN
dem-11741	102	42	00	00	NUM
dem-11741	102	43	)	)	PUNCT
dem-11741	102	44	(	(	PUNCT
dem-11741	102	45	)	)	PUNCT
dem-11741	102	46	1	1	NUM
dem-11741	102	47	(	(	PUNCT
dem-11741	102	48	)	)	PUNCT
dem-11741	102	49	(	(	PUNCT
dem-11741	102	50	)	)	PUNCT
dem-11741	102	51	1()1	1()1	NUM
dem-11741	102	52	(	(	PUNCT
dem-11741	102	53	j	j	PROPN
dem-11741	102	54	jjj	jjj	PROPN
dem-11741	102	55	j	j	PROPN
dem-11741	102	56	d	d	X
dem-11741	102	57	l	l	NOUN
dem-11741	102	58	dj	dj	NOUN
dem-11741	102	59	dj	dj	NOUN
dem-11741	103	1	l	l	NOUN
dem-11741	103	2	j	j	PROPN
dem-11741	103	3	d	d	X
dem-11741	103	4	l	l	NOUN
dem-11741	103	5	–	–	PUNCT
dem-11741	103	6	differential	differential	ADJ
dem-11741	103	7	filter	filter	NOUN
dem-11741	103	8	of	of	ADP
dem-11741	103	9	d	d	NOUN
dem-11741	103	10	order	order	NOUN
dem-11741	103	11	,	,	PUNCT
dem-11741	103	12	where	where	SCONJ
dem-11741	103	13	,	,	PUNCT
dem-11741	103	14	)	)	PUNCT
dem-11741	103	15	(	(	PUNCT
dem-11741	103	16			PROPN
dem-11741	103	17	denotes	denotes	PROPN
dem-11741	103	18	gamma	gamma	PROPN
dem-11741	103	19	function	function	PROPN
dem-11741	103	20	;	;	PUNCT
dem-11741	103	21	,	,	PUNCT
dem-11741	103	22	...	...	PUNCT
dem-11741	103	23	1	1	X
dem-11741	103	24	)	)	PUNCT
dem-11741	103	25	(	(	PUNCT
dem-11741	103	26	1	1	NUM
dem-11741	103	27	p	p	NOUN
dem-11741	103	28	plll	plll	NOUN
dem-11741	104	1			NUM
dem-11741	104	2			NUM
dem-11741	104	3	q	q	NOUN
dem-11741	104	4	qlll	qlll	NOUN
dem-11741	104	5			PUNCT
dem-11741	104	6			NOUN
dem-11741	104	7	...	...	PUNCT
dem-11741	104	8	1	1	X
dem-11741	104	9	)	)	PUNCT
dem-11741	104	10	(	(	PUNCT
dem-11741	104	11	1	1	NUM
dem-11741	104	12	are	be	AUX
dem-11741	104	13	respectively	respectively	ADV
dem-11741	104	14	lags	lag	VERB
dem-11741	104	15	polynomials	polynomial	NOUN
dem-11741	104	16	for	for	ADP
dem-11741	104	17	the	the	DET
dem-11741	104	18	autoregressive	autoregressive	ADJ
dem-11741	104	19	part	part	NOUN
dem-11741	104	20	of	of	ADP
dem-11741	104	21	p	p	NOUN
dem-11741	104	22	order	order	NOUN
dem-11741	104	23	and	and	CCONJ
dem-11741	104	24	moving	move	VERB
dem-11741	104	25	average	average	NOUN
dem-11741	104	26	of	of	ADP
dem-11741	104	27	q	q	DET
dem-11741	104	28	order	order	NOUN
dem-11741	104	29	,	,	PUNCT
dem-11741	104	30	whose	whose	DET
dem-11741	104	31	all	all	DET
dem-11741	104	32	roots	root	NOUN
dem-11741	104	33	lie	lie	VERB
dem-11741	104	34	outside	outside	ADP
dem-11741	104	35	the	the	DET
dem-11741	104	36	unit	unit	NOUN
dem-11741	104	37	circle	circle	NOUN
dem-11741	104	38	,	,	PUNCT
dem-11741	104	39	i	i	NUM
dem-11741	104	40	,	,	PUNCT
dem-11741	104	41	i	i	ADV
dem-11741	104	42	are	be	AUX
dem-11741	104	43	the	the	DET
dem-11741	104	44	model	model	NOUN
dem-11741	104	45	parameters	parameter	NOUN
dem-11741	104	46	;	;	PUNCT
dem-11741	104	47			ADV
dem-11741	104	48			VERB
dem-11741	104	49			PRON
dem-11741	104	50			NOUN
dem-11741	104	51			NUM
dem-11741	104	52			NOUN
dem-11741	104	53			NOUN
dem-11741	104	54			X
dem-11741	104	55			NOUN
dem-11741	104	56			PROPN
dem-11741	104	57			PROPN
dem-11741	104	58			PROPN
dem-11741	104	59			NOUN
dem-11741	104	60			NOUN
dem-11741	104	61	00	00	NUM
dem-11741	104	62	)	)	PUNCT
dem-11741	104	63	(	(	PUNCT
dem-11741	104	64	)	)	PUNCT
dem-11741	104	65	1	1	NUM
dem-11741	104	66	(	(	PUNCT
dem-11741	104	67	)	)	PUNCT
dem-11741	104	68	(	(	PUNCT
dem-11741	104	69	)	)	PUNCT
dem-11741	104	70	1()1	1()1	NUM
dem-11741	104	71	(	(	PUNCT
dem-11741	104	72	s	s	NUM
dem-11741	104	73	sss	sss	PROPN
dem-11741	104	74	s	s	PROPN
dem-11741	104	75	d	d	X
dem-11741	104	76	l	l	NOUN
dem-11741	104	77	ds	ds	ADJ
dem-11741	104	78	ds	ds	PROPN
dem-11741	104	79	l	l	NOUN
dem-11741	104	80	s	s	PROPN
dem-11741	104	81	d	d	X
dem-11741	104	82	l	l	NOUN
dem-11741	104	83	–	–	PUNCT
dem-11741	104	84	differential	differential	ADJ
dem-11741	104	85	filter	filter	NOUN
dem-11741	104	86	of	of	ADP
dem-11741	104	87	d	d	NOUN
dem-11741	104	88	order	order	NOUN
dem-11741	104	89	;	;	PUNCT
dem-11741	104	90	,	,	PUNCT
dem-11741	104	91	...	...	PUNCT
dem-11741	104	92	1	1	X
dem-11741	104	93	)	)	PUNCT
dem-11741	104	94	(	(	PUNCT
dem-11741	104	95	1	1	NUM
dem-11741	104	96	q	q	NOUN
dem-11741	104	97	qlll	qlll	NOUN
dem-11741	104	98			ADP
dem-11741	104	99			NOUN
dem-11741	104	100	p	p	NOUN
dem-11741	104	101	plll	plll	NOUN
dem-11741	104	102			NOUN
dem-11741	104	103			NOUN
dem-11741	104	104	...	...	PUNCT
dem-11741	104	105	1	1	X
dem-11741	104	106	)	)	PUNCT
dem-11741	104	107	(	(	PUNCT
dem-11741	104	108	1	1	NUM
dem-11741	104	109	are	be	AUX
dem-11741	104	110	respectively	respectively	ADV
dem-11741	104	111	włodarczyk	włodarczyk	NOUN
dem-11741	104	112	,	,	PUNCT
dem-11741	104	113	otola	otola	PROPN
dem-11741	104	114	dynamic	dynamic	ADJ
dem-11741	104	115	econometric	econometric	ADJ
dem-11741	104	116	models	model	NOUN
dem-11741	104	117	16	16	NUM
dem-11741	104	118	(	(	PUNCT
dem-11741	104	119	2016	2016	NUM
dem-11741	104	120	)	)	PUNCT
dem-11741	105	1	87–116	87–116	PROPN
dem-11741	105	2	94	94	NUM
dem-11741	105	3	lags	lag	VERB
dem-11741	105	4	polynomials	polynomial	NOUN
dem-11741	105	5	for	for	ADP
dem-11741	105	6	the	the	DET
dem-11741	105	7	arch	arch	ADJ
dem-11741	105	8	part	part	NOUN
dem-11741	105	9	of	of	ADP
dem-11741	105	10	q	q	NOUN
dem-11741	105	11	order	order	NOUN
dem-11741	105	12	and	and	CCONJ
dem-11741	105	13	garch	garch	VERB
dem-11741	105	14	part	part	NOUN
dem-11741	105	15	of	of	ADP
dem-11741	105	16	p	p	NOUN
dem-11741	105	17	order	order	NOUN
dem-11741	105	18	,	,	PUNCT
dem-11741	105	19	all	all	DET
dem-11741	105	20	the	the	DET
dem-11741	105	21	roots	root	NOUN
dem-11741	105	22	of	of	ADP
dem-11741	105	23	)	)	PUNCT
dem-11741	105	24	]	]	X
dem-11741	105	25	(	(	PUNCT
dem-11741	105	26	1	1	NUM
dem-11741	105	27	[	[	NOUN
dem-11741	105	28	)	)	PUNCT
dem-11741	105	29	,	,	PUNCT
dem-11741	105	30	(	(	PUNCT
dem-11741	105	31	ll	ll	AUX
dem-11741	105	32			VERB
dem-11741	105	33			PROPN
dem-11741	105	34	lie	lie	VERB
dem-11741	105	35	outside	outside	ADP
dem-11741	105	36	the	the	DET
dem-11741	105	37	unit	unit	NOUN
dem-11741	105	38	circle	circle	NOUN
dem-11741	105	39	,	,	PUNCT
dem-11741	105	40	αi	αi	PROPN
dem-11741	105	41	,	,	PUNCT
dem-11741	105	42	βi	βi	PRON
dem-11741	105	43	are	be	AUX
dem-11741	105	44	the	the	DET
dem-11741	105	45	model	model	NOUN
dem-11741	105	46	parameters	parameter	NOUN
dem-11741	105	47	;	;	PUNCT
dem-11741	105	48	t	t	PRON
dem-11741	105	49	is	be	AUX
dem-11741	105	50	an	an	DET
dem-11741	105	51	innovations	innovation	NOUN
dem-11741	105	52	series	series	NOUN
dem-11741	105	53	,	,	PUNCT
dem-11741	105	54	)	)	PUNCT
dem-11741	105	55	.1,0(	.1,0(	PROPN
dem-11741	105	56	..	..	PUNCT
dem-11741	106	1	~	~	PUNCT
dem-11741	106	2	diit	diit	X
dem-11741	106	3	on	on	ADP
dem-11741	106	4	the	the	DET
dem-11741	106	5	basis	basis	NOUN
dem-11741	106	6	of	of	ADP
dem-11741	106	7	d	d	PROPN
dem-11741	106	8	parameter	parameter	NOUN
dem-11741	106	9	value	value	NOUN
dem-11741	106	10	one	one	PRON
dem-11741	106	11	can	can	AUX
dem-11741	106	12	identify	identify	VERB
dem-11741	106	13	the	the	DET
dem-11741	106	14	memory	memory	NOUN
dem-11741	106	15	type	type	NOUN
dem-11741	106	16	of	of	ADP
dem-11741	106	17	the	the	DET
dem-11741	106	18	process	process	NOUN
dem-11741	106	19	(	(	PUNCT
dem-11741	106	20	hosking,1981	hosking,1981	INTJ
dem-11741	106	21	):	):	PUNCT
dem-11741	106	22			NOUN
dem-11741	106	23	means	mean	VERB
dem-11741	106	24	that	that	SCONJ
dem-11741	106	25	the	the	DET
dem-11741	106	26	process	process	NOUN
dem-11741	106	27	exhibits	exhibit	VERB
dem-11741	106	28	negative	negative	ADJ
dem-11741	106	29	dependencies	dependency	NOUN
dem-11741	106	30	between	between	ADP
dem-11741	106	31	distant	distant	ADJ
dem-11741	106	32	observations	observation	NOUN
dem-11741	106	33	(	(	PUNCT
dem-11741	106	34	anti	anti	ADJ
dem-11741	106	35	-	-	ADJ
dem-11741	106	36	persistence	persistence	ADJ
dem-11741	106	37	,	,	PUNCT
dem-11741	106	38	but	but	CCONJ
dem-11741	106	39	stationary	stationary	ADJ
dem-11741	106	40	process	process	NOUN
dem-11741	106	41	)	)	PUNCT
dem-11741	106	42	,	,	PUNCT
dem-11741	106	43			NOUN
dem-11741	106	44	corresponds	correspond	VERB
dem-11741	106	45	to	to	ADP
dem-11741	106	46	the	the	DET
dem-11741	106	47	long	long	ADJ
dem-11741	106	48	-	-	PUNCT
dem-11741	106	49	memory	memory	NOUN
dem-11741	106	50	stationary	stationary	ADJ
dem-11741	106	51	process	process	NOUN
dem-11741	106	52	,	,	PUNCT
dem-11741	106	53			NOUN
dem-11741	106	54	means	mean	VERB
dem-11741	106	55	reduction	reduction	NOUN
dem-11741	106	56	of	of	ADP
dem-11741	106	57	the	the	DET
dem-11741	106	58	arfima(p	arfima(p	NOUN
dem-11741	106	59	,	,	PUNCT
dem-11741	106	60	d	d	NOUN
dem-11741	106	61	,	,	PUNCT
dem-11741	106	62	q	q	NOUN
dem-11741	106	63	)	)	PUNCT
dem-11741	106	64	to	to	ADP
dem-11741	106	65	the	the	DET
dem-11741	106	66	stationary	stationary	PROPN
dem-11741	106	67	arma(p	arma(p	PROPN
dem-11741	106	68	,	,	PUNCT
dem-11741	106	69	q	q	NOUN
dem-11741	106	70	)	)	PUNCT
dem-11741	106	71	model	model	NOUN
dem-11741	106	72	(	(	PUNCT
dem-11741	106	73	short	short	ADJ
dem-11741	106	74	memory	memory	NOUN
dem-11741	106	75	process	process	NOUN
dem-11741	106	76	)	)	PUNCT
dem-11741	106	77	,	,	PUNCT
dem-11741	106	78			NOUN
dem-11741	106	79	indicates	indicate	VERB
dem-11741	106	80	a	a	DET
dem-11741	106	81	non	non	ADJ
dem-11741	106	82	-	-	ADJ
dem-11741	106	83	stationary	stationary	ADJ
dem-11741	106	84	process	process	NOUN
dem-11741	106	85	(	(	PUNCT
dem-11741	106	86	in	in	ADP
dem-11741	106	87	particular	particular	ADJ
dem-11741	106	88	for	for	ADP
dem-11741	106	89	the	the	DET
dem-11741	106	90	process	process	NOUN
dem-11741	106	91	follows	follow	VERB
dem-11741	106	92	a	a	DET
dem-11741	106	93	unit	unit	NOUN
dem-11741	106	94	root	root	NOUN
dem-11741	106	95	process	process	NOUN
dem-11741	106	96	–	–	PUNCT
dem-11741	106	97	arima(p,1,q	arima(p,1,q	NOUN
dem-11741	106	98	)	)	PUNCT
dem-11741	106	99	model	model	NOUN
dem-11741	106	100	)	)	PUNCT
dem-11741	106	101	.	.	PUNCT
dem-11741	107	1	for	for	ADP
dem-11741	107	2	the	the	DET
dem-11741	107	3	figarch	figarch	NOUN
dem-11741	107	4	model	model	NOUN
dem-11741	107	5	the	the	DET
dem-11741	107	6	influence	influence	NOUN
dem-11741	107	7	of	of	ADP
dem-11741	107	8	current	current	ADJ
dem-11741	107	9	shocks	shock	NOUN
dem-11741	107	10	for	for	ADP
dem-11741	107	11	volatility	volatility	NOUN
dem-11741	107	12	forecasts	forecast	NOUN
dem-11741	107	13	decreases	decrease	VERB
dem-11741	107	14	to	to	ADP
dem-11741	107	15	zero	zero	NUM
dem-11741	107	16	,	,	PUNCT
dem-11741	107	17	but	but	CCONJ
dem-11741	107	18	at	at	ADP
dem-11741	107	19	a	a	DET
dem-11741	107	20	slower	slow	ADJ
dem-11741	107	21	rate	rate	NOUN
dem-11741	107	22	than	than	ADP
dem-11741	107	23	for	for	ADP
dem-11741	107	24	garch	garch	NOUN
dem-11741	107	25	processes	process	NOUN
dem-11741	107	26	.	.	PUNCT
dem-11741	108	1	moreover	moreover	ADV
dem-11741	108	2	,	,	PUNCT
dem-11741	108	3	the	the	DET
dem-11741	108	4	autocorrelation	autocorrelation	NOUN
dem-11741	108	5	function	function	NOUN
dem-11741	108	6	of	of	ADP
dem-11741	108	7	figarch	figarch	NOUN
dem-11741	108	8	squared	square	VERB
dem-11741	108	9	residuals	residual	NOUN
dem-11741	108	10	decreases	decrease	NOUN
dem-11741	108	11	at	at	ADP
dem-11741	108	12	a	a	DET
dem-11741	108	13	hyperbolic	hyperbolic	ADJ
dem-11741	108	14	rate	rate	NOUN
dem-11741	108	15	to	to	ADP
dem-11741	108	16	zero	zero	NUM
dem-11741	108	17	,	,	PUNCT
dem-11741	108	18	which	which	PRON
dem-11741	108	19	indicates	indicate	VERB
dem-11741	108	20	long	long	ADJ
dem-11741	108	21	memory	memory	NOUN
dem-11741	108	22	in	in	ADP
dem-11741	108	23	volatility	volatility	NOUN
dem-11741	108	24	of	of	ADP
dem-11741	108	25	series	series	NOUN
dem-11741	108	26	described	describe	VERB
dem-11741	108	27	by	by	ADP
dem-11741	108	28	this	this	DET
dem-11741	108	29	class	class	NOUN
dem-11741	108	30	models	model	NOUN
dem-11741	108	31	.	.	PUNCT
dem-11741	109	1	the	the	DET
dem-11741	109	2	existence	existence	NOUN
dem-11741	109	3	of	of	ADP
dem-11741	109	4	long	long	ADJ
dem-11741	109	5	memory	memory	NOUN
dem-11741	109	6	in	in	ADP
dem-11741	109	7	volatility	volatility	NOUN
dem-11741	109	8	process	process	NOUN
dem-11741	109	9	may	may	AUX
dem-11741	109	10	be	be	AUX
dem-11741	109	11	recognized	recognize	VERB
dem-11741	109	12	on	on	ADP
dem-11741	109	13	the	the	DET
dem-11741	109	14	basis	basis	NOUN
dem-11741	109	15	of	of	ADP
dem-11741	109	16	estimated	estimate	VERB
dem-11741	109	17	value	value	NOUN
dem-11741	109	18	of	of	ADP
dem-11741	109	19	d	d	PRON
dem-11741	109	20	parameter	parameter	NOUN
dem-11741	109	21	(	(	PUNCT
dem-11741	109	22	fiszeder	fiszeder	PROPN
dem-11741	109	23	,	,	PUNCT
dem-11741	109	24	2009	2009	NUM
dem-11741	109	25	):	):	PUNCT
dem-11741	109	26			NOUN
dem-11741	109	27	means	mean	VERB
dem-11741	109	28	that	that	SCONJ
dem-11741	109	29	volatility	volatility	NOUN
dem-11741	109	30	process	process	NOUN
dem-11741	109	31	exhibits	exhibit	VERB
dem-11741	109	32	long	long	ADJ
dem-11741	109	33	memory	memory	NOUN
dem-11741	109	34	property	property	NOUN
dem-11741	109	35	,	,	PUNCT
dem-11741	109	36			NOUN
dem-11741	109	37	means	mean	VERB
dem-11741	109	38	reduction	reduction	NOUN
dem-11741	109	39	of	of	ADP
dem-11741	109	40	the	the	DET
dem-11741	109	41	figarch(p	figarch(p	PROPN
dem-11741	109	42	,	,	PUNCT
dem-11741	109	43	d	d	NOUN
dem-11741	109	44	,	,	PUNCT
dem-11741	109	45	q	q	NOUN
dem-11741	109	46	)	)	PUNCT
dem-11741	109	47	to	to	ADP
dem-11741	109	48	the	the	DET
dem-11741	109	49	garch(p	garch(p	PROPN
dem-11741	109	50	,	,	PUNCT
dem-11741	109	51	q	q	NOUN
dem-11741	109	52	)	)	PUNCT
dem-11741	109	53	process	process	NOUN
dem-11741	109	54	for	for	ADP
dem-11741	109	55	which	which	PRON
dem-11741	109	56	the	the	DET
dem-11741	109	57	influence	influence	NOUN
dem-11741	109	58	of	of	ADP
dem-11741	109	59	current	current	ADJ
dem-11741	109	60	volatility	volatility	NOUN
dem-11741	109	61	on	on	ADP
dem-11741	109	62	forecasts	forecast	NOUN
dem-11741	109	63	of	of	ADP
dem-11741	109	64	conditional	conditional	ADJ
dem-11741	109	65	variance	variance	NOUN
dem-11741	109	66	decays	decay	VERB
dem-11741	109	67	at	at	ADP
dem-11741	109	68	fast	fast	ADJ
dem-11741	109	69	rate	rate	NOUN
dem-11741	109	70	(	(	PUNCT
dem-11741	109	71	also	also	ADV
dem-11741	109	72	short	short	ADJ
dem-11741	109	73	memory	memory	NOUN
dem-11741	109	74	process	process	NOUN
dem-11741	109	75	in	in	ADP
dem-11741	109	76	sense	sense	NOUN
dem-11741	109	77	of	of	ADP
dem-11741	109	78	“	"	PUNCT
dem-11741	109	79	influence	influence	NOUN
dem-11741	109	80	of	of	ADP
dem-11741	109	81	current	current	ADJ
dem-11741	109	82	volatility	volatility	NOUN
dem-11741	109	83	for	for	ADP
dem-11741	109	84	the	the	DET
dem-11741	109	85	true	true	ADJ
dem-11741	109	86	conditional	conditional	ADJ
dem-11741	109	87	variance	variance	NOUN
dem-11741	109	88	process	process	NOUN
dem-11741	109	89	”	"	PUNCT
dem-11741	109	90	)	)	PUNCT
dem-11741	109	91	,	,	PUNCT
dem-11741	109	92			NOUN
dem-11741	109	93	means	mean	VERB
dem-11741	109	94	reduction	reduction	NOUN
dem-11741	109	95	of	of	ADP
dem-11741	109	96	the	the	DET
dem-11741	109	97	figarch(p	figarch(p	PROPN
dem-11741	109	98	,	,	PUNCT
dem-11741	109	99	d	d	NOUN
dem-11741	109	100	,	,	PUNCT
dem-11741	109	101	q	q	NOUN
dem-11741	109	102	)	)	PUNCT
dem-11741	109	103	to	to	ADP
dem-11741	109	104	the	the	DET
dem-11741	109	105	igarch(p	igarch(p	PROPN
dem-11741	109	106	,	,	PUNCT
dem-11741	109	107	q	q	NOUN
dem-11741	109	108	)	)	PUNCT
dem-11741	109	109	process	process	NOUN
dem-11741	109	110	for	for	ADP
dem-11741	109	111	which	which	PRON
dem-11741	109	112	current	current	ADJ
dem-11741	109	113	volatility	volatility	NOUN
dem-11741	109	114	has	have	VERB
dem-11741	109	115	permanent	permanent	ADJ
dem-11741	109	116	impact	impact	NOUN
dem-11741	109	117	on	on	ADP
dem-11741	109	118	forecasts	forecast	NOUN
dem-11741	109	119	of	of	ADP
dem-11741	109	120	conditional	conditional	ADJ
dem-11741	109	121	variance	variance	NOUN
dem-11741	109	122	(	(	PUNCT
dem-11741	109	123	short	short	ADJ
dem-11741	109	124	memory	memory	NOUN
dem-11741	109	125	in	in	ADP
dem-11741	109	126	above	above	ADV
dem-11741	109	127	explained	explain	VERB
dem-11741	109	128	sense	sense	NOUN
dem-11741	109	129	)	)	PUNCT
dem-11741	109	130	.	.	PUNCT
dem-11741	110	1	this	this	DET
dem-11741	110	2	class	class	NOUN
dem-11741	110	3	of	of	ADP
dem-11741	110	4	models	model	NOUN
dem-11741	110	5	is	be	AUX
dem-11741	110	6	estimated	estimate	VERB
dem-11741	110	7	by	by	ADP
dem-11741	110	8	using	use	VERB
dem-11741	110	9	the	the	DET
dem-11741	110	10	quasi	quasi	ADJ
dem-11741	110	11	-	-	ADJ
dem-11741	110	12	maximum	maximum	ADJ
dem-11741	110	13	likelihood	likelihood	NOUN
dem-11741	110	14	(	(	PUNCT
dem-11741	110	15	qml	qml	NOUN
dem-11741	110	16	)	)	PUNCT
dem-11741	110	17	estimation	estimation	NOUN
dem-11741	110	18	method	method	NOUN
dem-11741	110	19	,	,	PUNCT
dem-11741	110	20	based	base	VERB
dem-11741	110	21	on	on	ADP
dem-11741	110	22	the	the	DET
dem-11741	110	23	following	follow	VERB
dem-11741	110	24	log	log	NOUN
dem-11741	110	25	-	-	PUNCT
dem-11741	110	26	likelihood	likelihood	NOUN
dem-11741	110	27	function	function	NOUN
dem-11741	110	28	(	(	PUNCT
dem-11741	110	29	under	under	ADP
dem-11741	110	30	the	the	DET
dem-11741	110	31	assumption	assumption	NOUN
dem-11741	110	32	about	about	ADP
dem-11741	110	33	gaussian	gaussian	ADJ
dem-11741	110	34	distribution	distribution	NOUN
dem-11741	110	35	of	of	ADP
dem-11741	110	36	innovations	innovation	NOUN
dem-11741	110	37	)	)	PUNCT
dem-11741	110	38	(	(	PUNCT
dem-11741	110	39	fiszeder	fiszeder	NOUN
dem-11741	110	40	,	,	PUNCT
dem-11741	110	41	2009	2009	NUM
dem-11741	110	42	;	;	PUNCT
dem-11741	110	43	kang	kang	PROPN
dem-11741	110	44	and	and	CCONJ
dem-11741	110	45	yoon	yoon	PROPN
dem-11741	110	46	,	,	PUNCT
dem-11741	110	47	2012	2012	NUM
dem-11741	110	48	):	):	PUNCT
dem-11741	110	49	,	,	PUNCT
dem-11741	110	50	]	]	PUNCT
dem-11741	110	51	)	)	PUNCT
dem-11741	111	1	[	[	X
dem-11741	111	2	ln	ln	ADJ
dem-11741	111	3	(	(	PUNCT
dem-11741	111	4	2	2	NUM
dem-11741	111	5	1	1	NUM
dem-11741	111	6	)	)	PUNCT
dem-11741	111	7	2ln	2ln	ADJ
dem-11741	111	8	(	(	PUNCT
dem-11741	111	9	2	2	NUM
dem-11741	111	10	1	1	NUM
dem-11741	111	11	1	1	NUM
dem-11741	111	12	2	2	NUM
dem-11741	111	13			NUM
dem-11741	111	14			NUM
dem-11741	111	15			NOUN
dem-11741	111	16	t	t	PROPN
dem-11741	111	17	t	t	NOUN
dem-11741	111	18	ttgaussian	ttgaussian	ADJ
dem-11741	111	19	htll	htll	NOUN
dem-11741	111	20			X
dem-11741	111	21	(	(	PUNCT
dem-11741	111	22	6	6	NUM
dem-11741	111	23	)	)	PUNCT
dem-11741	111	24	where	where	SCONJ
dem-11741	111	25	t	t	PROPN
dem-11741	111	26	denotes	denote	VERB
dem-11741	111	27	the	the	DET
dem-11741	111	28	number	number	NOUN
dem-11741	111	29	of	of	ADP
dem-11741	111	30	observation	observation	NOUN
dem-11741	111	31	.	.	PUNCT
dem-11741	112	1	it	it	PRON
dem-11741	112	2	is	be	AUX
dem-11741	112	3	worth	worth	ADJ
dem-11741	112	4	stressing	stress	VERB
dem-11741	112	5	that	that	SCONJ
dem-11741	112	6	one	one	NUM
dem-11741	112	7	of	of	ADP
dem-11741	112	8	stylized	stylize	VERB
dem-11741	112	9	facts	fact	NOUN
dem-11741	112	10	of	of	ADP
dem-11741	112	11	high	high	ADJ
dem-11741	112	12	–	–	PUNCT
dem-11741	112	13	frequency	frequency	NOUN
dem-11741	112	14	time	time	NOUN
dem-11741	112	15	series	series	NOUN
dem-11741	112	16	of	of	ADP
dem-11741	112	17	financial	financial	ADJ
dem-11741	112	18	prices	price	NOUN
dem-11741	112	19	is	be	AUX
dem-11741	112	20	excess	excess	ADJ
dem-11741	112	21	kurtosis	kurtosis	NOUN
dem-11741	112	22	and	and	CCONJ
dem-11741	112	23	skewness	skewness	NOUN
dem-11741	112	24	of	of	ADP
dem-11741	112	25	returns	return	NOUN
dem-11741	112	26	distributions	distribution	NOUN
dem-11741	112	27	(	(	PUNCT
dem-11741	112	28	fiszeder	fiszeder	NOUN
dem-11741	112	29	,	,	PUNCT
dem-11741	112	30	2009	2009	NUM
dem-11741	112	31	;	;	PUNCT
dem-11741	112	32	laurent	laurent	NOUN
dem-11741	112	33	,	,	PUNCT
dem-11741	112	34	2013	2013	NUM
dem-11741	112	35	;	;	PUNCT
dem-11741	112	36	włodarczyk	włodarczyk	INTJ
dem-11741	112	37	,	,	PUNCT
dem-11741	112	38	2010	2010	NUM
dem-11741	112	39	)	)	PUNCT
dem-11741	112	40	.	.	PUNCT
dem-11741	113	1	in	in	ADP
dem-11741	113	2	order	order	NOUN
dem-11741	113	3	to	to	PART
dem-11741	113	4	capture	capture	VERB
dem-11741	113	5	the	the	DET
dem-11741	113	6	analysis	analysis	NOUN
dem-11741	113	7	of	of	ADP
dem-11741	113	8	the	the	DET
dem-11741	113	9	relationship	relationship	NOUN
dem-11741	113	10	between	between	ADP
dem-11741	113	11	market	market	NOUN
dem-11741	113	12	volatility	volatility	NOUN
dem-11741	113	13	and	and	CCONJ
dem-11741	113	14	firms	firm	NOUN
dem-11741	113	15	volatility	volatility	NOUN
dem-11741	113	16	…	…	SYM
dem-11741	113	17	dynamic	dynamic	ADJ
dem-11741	113	18	econometric	econometric	ADJ
dem-11741	113	19	models	model	NOUN
dem-11741	113	20	16	16	NUM
dem-11741	113	21	(	(	PUNCT
dem-11741	113	22	2016	2016	NUM
dem-11741	113	23	)	)	PUNCT
dem-11741	113	24	87–116	87–116	NUM
dem-11741	113	25	95	95	NUM
dem-11741	113	26	excess	excess	ADJ
dem-11741	113	27	kurtosis	kurtosis	NOUN
dem-11741	113	28	and	and	CCONJ
dem-11741	113	29	fat	fat	ADJ
dem-11741	113	30	-	-	PUNCT
dem-11741	113	31	tailed	tail	VERB
dem-11741	113	32	effect	effect	NOUN
dem-11741	113	33	in	in	ADP
dem-11741	113	34	the	the	DET
dem-11741	113	35	residuals	residual	NOUN
dem-11741	113	36	,	,	PUNCT
dem-11741	113	37	the	the	DET
dem-11741	113	38	student	student	NOUN
dem-11741	113	39	t	t	PROPN
dem-11741	113	40	-	-	PUNCT
dem-11741	113	41	distribution	distribution	NOUN
dem-11741	113	42	may	may	AUX
dem-11741	113	43	be	be	AUX
dem-11741	113	44	used	use	VERB
dem-11741	113	45	as	as	ADP
dem-11741	113	46	the	the	DET
dem-11741	113	47	innovation	innovation	NOUN
dem-11741	113	48	distribution	distribution	NOUN
dem-11741	113	49	in	in	ADP
dem-11741	113	50	arfima	arfima	NOUN
dem-11741	113	51	-	-	PUNCT
dem-11741	113	52	figarch	figarch	NOUN
dem-11741	113	53	model	model	NOUN
dem-11741	113	54	,	,	PUNCT
dem-11741	113	55	and	and	CCONJ
dem-11741	113	56	then	then	ADV
dem-11741	113	57	the	the	DET
dem-11741	113	58	log	log	NOUN
dem-11741	113	59	-	-	PUNCT
dem-11741	113	60	likelihood	likelihood	NOUN
dem-11741	113	61	function	function	NOUN
dem-11741	113	62	is	be	AUX
dem-11741	113	63	defined	define	VERB
dem-11741	113	64	as	as	ADP
dem-11741	113	65	follows	follow	VERB
dem-11741	113	66	(	(	PUNCT
dem-11741	113	67	kang	kang	PROPN
dem-11741	113	68	and	and	CCONJ
dem-11741	113	69	yoon	yoon	PROPN
dem-11741	113	70	,	,	PUNCT
dem-11741	113	71	2012	2012	NUM
dem-11741	113	72	;	;	PUNCT
dem-11741	113	73	laurent	laurent	NOUN
dem-11741	113	74	,	,	PUNCT
dem-11741	113	75	2013	2013	NUM
dem-11741	113	76	):	):	PUNCT
dem-11741	113	77	,	,	PUNCT
dem-11741	113	78	2	2	NUM
dem-11741	113	79	1ln)1()ln	1ln)1()ln	NUM
dem-11741	113	80	(	(	PUNCT
dem-11741	113	81	2	2	NUM
dem-11741	113	82	1	1	NUM
dem-11741	113	83	)	)	PUNCT
dem-11741	113	84	]	]	X
dem-11741	113	85	2(ln	2(ln	NUM
dem-11741	113	86	[	[	PUNCT
dem-11741	113	87	2	2	NUM
dem-11741	113	88	1	1	NUM
dem-11741	113	89	2	2	NUM
dem-11741	113	90	ln	ln	NOUN
dem-11741	113	91	2	2	NUM
dem-11741	113	92	1	1	NUM
dem-11741	113	93	ln	ln	NOUN
dem-11741	113	94	1	1	NUM
dem-11741	113	95	2	2	NUM
dem-11741	113	96			X
dem-11741	113	97			ADJ
dem-11741	113	98			NOUN
dem-11741	113	99			PROPN
dem-11741	113	100			PROPN
dem-11741	113	101			X
dem-11741	113	102			NOUN
dem-11741	113	103			X
dem-11741	113	104			VERB
dem-11741	113	105			PROPN
dem-11741	113	106			NOUN
dem-11741	113	107			PROPN
dem-11741	113	108			PROPN
dem-11741	113	109			X
dem-11741	113	110			NOUN
dem-11741	113	111			X
dem-11741	113	112			VERB
dem-11741	113	113			PROPN
dem-11741	113	114			INTJ
dem-11741	113	115			PROPN
dem-11741	113	116			NOUN
dem-11741	114	1			PROPN
dem-11741	114	2			PROPN
dem-11741	114	3			PROPN
dem-11741	115	1			PROPN
dem-11741	115	2			NOUN
dem-11741	115	3			PROPN
dem-11741	115	4			PROPN
dem-11741	115	5			NOUN
dem-11741	115	6			PROPN
dem-11741	116	1			PROPN
dem-11741	117	1			PROPN
dem-11741	117	2			INTJ
dem-11741	117	3			NUM
dem-11741	117	4			ADP
dem-11741	118	1			NOUN
dem-11741	118	2			VERB
dem-11741	118	3			PRON
dem-11741	118	4			PROPN
dem-11741	118	5			PROPN
dem-11741	118	6			NOUN
dem-11741	118	7			NUM
dem-11741	118	8			NOUN
dem-11741	118	9			PRON
dem-11741	118	10			PROPN
dem-11741	118	11			PROPN
dem-11741	118	12			NOUN
dem-11741	118	13			PROPN
dem-11741	119	1			PROPN
dem-11741	119	2	t	t	PROPN
dem-11741	119	3	t	t	PROPN
dem-11741	119	4	t	t	PROPN
dem-11741	119	5	t	t	PROPN
dem-11741	119	6	student	student	NOUN
dem-11741	119	7	h	h	NOUN
dem-11741	119	8	tll	tll	PROPN
dem-11741	119	9			NOUN
dem-11741	119	10			NUM
dem-11741	119	11			ADJ
dem-11741	119	12			NOUN
dem-11741	119	13			NOUN
dem-11741	119	14	(	(	PUNCT
dem-11741	119	15	7	7	NUM
dem-11741	119	16	)	)	PUNCT
dem-11741	119	17	where	where	SCONJ
dem-11741	119	18	parameter	parameter	NOUN
dem-11741	119	19	measures	measure	VERB
dem-11741	119	20	the	the	DET
dem-11741	119	21	degree	degree	NOUN
dem-11741	119	22	of	of	ADP
dem-11741	119	23	fat	fat	ADJ
dem-11741	119	24	tails	tail	NOUN
dem-11741	119	25	of	of	ADP
dem-11741	119	26	the	the	DET
dem-11741	119	27	density	density	NOUN
dem-11741	119	28	function	function	NOUN
dem-11741	119	29	and	and	CCONJ
dem-11741	119	30	the	the	PRON
dem-11741	119	31	lower	low	ADJ
dem-11741	119	32	its	its	PRON
dem-11741	119	33	values	value	NOUN
dem-11741	119	34	is	be	AUX
dem-11741	119	35	,	,	PUNCT
dem-11741	119	36	the	the	DET
dem-11741	119	37	fatter	fat	ADJ
dem-11741	119	38	tails	tail	NOUN
dem-11741	119	39	of	of	ADP
dem-11741	119	40	distribution	distribution	NOUN
dem-11741	119	41	are	be	AUX
dem-11741	119	42	.	.	PUNCT
dem-11741	120	1	the	the	DET
dem-11741	120	2	latest	late	ADJ
dem-11741	120	3	specification	specification	NOUN
dem-11741	120	4	of	of	ADP
dem-11741	120	5	arfima	arfima	NOUN
dem-11741	120	6	-	-	PUNCT
dem-11741	120	7	figarch	figarch	NOUN
dem-11741	120	8	models	model	NOUN
dem-11741	120	9	,	,	PUNCT
dem-11741	120	10	which	which	PRON
dem-11741	120	11	be	be	AUX
dem-11741	120	12	considered	consider	VERB
dem-11741	120	13	in	in	ADP
dem-11741	120	14	this	this	DET
dem-11741	120	15	work	work	NOUN
dem-11741	120	16	,	,	PUNCT
dem-11741	120	17	allows	allow	VERB
dem-11741	120	18	for	for	ADP
dem-11741	120	19	both	both	CCONJ
dem-11741	120	20	the	the	DET
dem-11741	120	21	excess	excess	ADJ
dem-11741	120	22	skewness	skewness	NOUN
dem-11741	120	23	and	and	CCONJ
dem-11741	120	24	kurtosis	kurtosis	NOUN
dem-11741	120	25	of	of	ADP
dem-11741	120	26	residuals	residual	NOUN
dem-11741	120	27	by	by	ADP
dem-11741	120	28	using	use	VERB
dem-11741	120	29	the	the	DET
dem-11741	120	30	skewed	skewed	ADJ
dem-11741	120	31	student	student	NOUN
dem-11741	120	32	t	t	NOUN
dem-11741	120	33	-	-	PUNCT
dem-11741	120	34	distribution	distribution	NOUN
dem-11741	120	35	.	.	PUNCT
dem-11741	121	1	in	in	ADP
dem-11741	121	2	this	this	DET
dem-11741	121	3	case	case	NOUN
dem-11741	121	4	the	the	DET
dem-11741	121	5	log	log	NOUN
dem-11741	121	6	-	-	PUNCT
dem-11741	121	7	likelihood	likelihood	NOUN
dem-11741	121	8	function	function	NOUN
dem-11741	121	9	is	be	AUX
dem-11741	121	10	as	as	SCONJ
dem-11741	121	11	follows	follow	VERB
dem-11741	121	12	(	(	PUNCT
dem-11741	121	13	kang	kang	PROPN
dem-11741	121	14	and	and	CCONJ
dem-11741	121	15	yoon	yoon	PROPN
dem-11741	121	16	,	,	PUNCT
dem-11741	121	17	2012	2012	NUM
dem-11741	121	18	;	;	PUNCT
dem-11741	121	19	laurent	laurent	NOUN
dem-11741	121	20	,	,	PUNCT
dem-11741	121	21	2013	2013	NUM
dem-11741	121	22	):	):	PUNCT
dem-11741	121	23			PROPN
dem-11741	121	24			PROPN
dem-11741	121	25	,	,	PUNCT
dem-11741	121	26	2	2	NUM
dem-11741	121	27	)	)	PUNCT
dem-11741	121	28	(	(	PUNCT
dem-11741	121	29	1ln)1()ln	1ln)1()ln	NUM
dem-11741	121	30	(	(	PUNCT
dem-11741	121	31	2	2	NUM
dem-11741	121	32	1	1	NUM
dem-11741	121	33	ln	ln	NOUN
dem-11741	121	34	1	1	NUM
dem-11741	121	35	2	2	NUM
dem-11741	121	36	ln)]2(ln	ln)]2(ln	NOUN
dem-11741	121	37	[	[	PUNCT
dem-11741	121	38	2	2	NUM
dem-11741	121	39	1	1	NUM
dem-11741	121	40	2	2	NUM
dem-11741	121	41	ln	ln	NOUN
dem-11741	121	42	2	2	NUM
dem-11741	121	43	1	1	NUM
dem-11741	121	44	ln	ln	NOUN
dem-11741	121	45	1	1	NUM
dem-11741	121	46	2	2	NUM
dem-11741	121	47	2	2	NUM
dem-11741	121	48			NUM
dem-11741	122	1			NUM
dem-11741	122	2			NOUN
dem-11741	122	3			NOUN
dem-11741	122	4			PROPN
dem-11741	122	5			PROPN
dem-11741	122	6			X
dem-11741	122	7			NOUN
dem-11741	122	8			X
dem-11741	122	9			VERB
dem-11741	122	10			PROPN
dem-11741	122	11			NOUN
dem-11741	122	12			PROPN
dem-11741	122	13			PROPN
dem-11741	122	14			X
dem-11741	122	15			NOUN
dem-11741	122	16			X
dem-11741	122	17			VERB
dem-11741	122	18			PROPN
dem-11741	122	19			INTJ
dem-11741	122	20			PROPN
dem-11741	122	21			NOUN
dem-11741	123	1			PROPN
dem-11741	123	2			PROPN
dem-11741	123	3			PROPN
dem-11741	124	1			PROPN
dem-11741	124	2			PROPN
dem-11741	124	3			PROPN
dem-11741	124	4			PUNCT
dem-11741	124	5			VERB
dem-11741	124	6			NOUN
dem-11741	124	7			ADP
dem-11741	124	8			NUM
dem-11741	124	9			NOUN
dem-11741	124	10			NOUN
dem-11741	124	11			INTJ
dem-11741	125	1			NUM
dem-11741	125	2			NUM
dem-11741	125	3			PRON
dem-11741	125	4			NUM
dem-11741	125	5			NOUN
dem-11741	126	1			NOUN
dem-11741	126	2			ADP
dem-11741	126	3			PROPN
dem-11741	126	4			PROPN
dem-11741	127	1			PROPN
dem-11741	127	2			PROPN
dem-11741	128	1			PROPN
dem-11741	128	2			NOUN
dem-11741	129	1			PROPN
dem-11741	130	1			PROPN
dem-11741	131	1			PROPN
dem-11741	132	1			PROPN
dem-11741	132	2			PROPN
dem-11741	133	1			PROPN
dem-11741	133	2			NOUN
dem-11741	133	3			X
dem-11741	133	4			NUM
dem-11741	133	5			NOUN
dem-11741	133	6			PROPN
dem-11741	133	7			PROPN
dem-11741	133	8			PROPN
dem-11741	133	9			NOUN
dem-11741	133	10			NUM
dem-11741	133	11			NOUN
dem-11741	134	1			PRON
dem-11741	134	2			PROPN
dem-11741	134	3			PROPN
dem-11741	134	4			NOUN
dem-11741	134	5			PROPN
dem-11741	134	6			PROPN
dem-11741	134	7	t	t	PROPN
dem-11741	134	8	t	t	PROPN
dem-11741	134	9	ists	ist	NOUN
dem-11741	134	10	t	t	PROPN
dem-11741	134	11	sentskewedstud	sentskewedstud	PROPN
dem-11741	134	12	tkh	tkh	PROPN
dem-11741	134	13	k	k	PROPN
dem-11741	134	14	k	k	PROPN
dem-11741	134	15	tll	tll	PROPN
dem-11741	134	16			PROPN
dem-11741	135	1			PROPN
dem-11741	135	2			PROPN
dem-11741	135	3			PROPN
dem-11741	135	4			NOUN
dem-11741	135	5	(	(	PUNCT
dem-11741	135	6	8)	8)	NUM
dem-11741	135	7	where	where	SCONJ
dem-11741	135	8	:	:	PUNCT
dem-11741	135	9	,	,	PUNCT
dem-11741	135	10	/	/	SYM
dem-11741	135	11	if	if	SCONJ
dem-11741	135	12	1	1	NUM
dem-11741	135	13	/	/	SYM
dem-11741	135	14	if	if	SCONJ
dem-11741	135	15	1	1	NUM
dem-11741	135	16	t	t	NOUN
dem-11741	135	17	t	t	NOUN
dem-11741	135	18			PROPN
dem-11741	135	19			NUM
dem-11741	135	20			NOUN
dem-11741	135	21			NOUN
dem-11741	136	1			PROPN
dem-11741	136	2			PROPN
dem-11741	136	3	ss	ss	INTJ
dem-11741	136	4	ss	ss	NOUN
dem-11741	137	1	ti	ti	NOUN
dem-11741	137	2			PROPN
dem-11741	137	3			PROPN
dem-11741	137	4	(	(	PUNCT
dem-11741	137	5	9	9	NUM
dem-11741	137	6	)	)	PUNCT
dem-11741	137	7	is	be	AUX
dem-11741	137	8	the	the	DET
dem-11741	137	9	indicator	indicator	NOUN
dem-11741	137	10	function	function	NOUN
dem-11741	137	11	,	,	PUNCT
dem-11741	137	12	which	which	PRON
dem-11741	137	13	is	be	AUX
dem-11741	137	14	determined	determine	VERB
dem-11741	137	15	on	on	ADP
dem-11741	137	16	the	the	DET
dem-11741	137	17	basis	basis	NOUN
dem-11741	137	18	of	of	ADP
dem-11741	137	19	the	the	DET
dem-11741	137	20	mean	mean	NOUN
dem-11741	137	21	(	(	PUNCT
dem-11741	137	22	s	s	PROPN
dem-11741	137	23	)	)	PUNCT
dem-11741	137	24	and	and	CCONJ
dem-11741	137	25	standard	standard	ADJ
dem-11741	137	26	deviation	deviation	NOUN
dem-11741	137	27	(	(	PUNCT
dem-11741	137	28	σs	σs	PROPN
dem-11741	137	29	)	)	PUNCT
dem-11741	137	30	of	of	ADP
dem-11741	137	31	the	the	DET
dem-11741	137	32	skewed	skewed	ADJ
dem-11741	137	33	student	student	NOUN
dem-11741	137	34	t	t	NOUN
dem-11741	137	35	-	-	PUNCT
dem-11741	137	36	distribution	distribution	NOUN
dem-11741	137	37	(	(	PUNCT
dem-11741	137	38	kang	kang	PROPN
dem-11741	137	39	and	and	CCONJ
dem-11741	137	40	yoon	yoon	PROPN
dem-11741	137	41	,	,	PUNCT
dem-11741	137	42	2012	2012	NUM
dem-11741	137	43	;	;	PUNCT
dem-11741	137	44	laurent	laurent	NOUN
dem-11741	137	45	,	,	PUNCT
dem-11741	137	46	2013	2013	NUM
dem-11741	137	47	):	):	PUNCT
dem-11741	137	48	,	,	PUNCT
dem-11741	137	49	1	1	NUM
dem-11741	137	50	2	2	NUM
dem-11741	137	51	2	2	NUM
dem-11741	137	52	2	2	NUM
dem-11741	137	53	1	1	NUM
dem-11741	137	54			NUM
dem-11741	137	55			NOUN
dem-11741	137	56			PRON
dem-11741	137	57			PROPN
dem-11741	137	58			PROPN
dem-11741	137	59			NOUN
dem-11741	137	60			PROPN
dem-11741	137	61			PROPN
dem-11741	137	62			NOUN
dem-11741	137	63			PRON
dem-11741	137	64			PROPN
dem-11741	137	65			PROPN
dem-11741	137	66			NOUN
dem-11741	137	67			VERB
dem-11741	137	68			NOUN
dem-11741	137	69			NOUN
dem-11741	137	70			PRON
dem-11741	137	71			PROPN
dem-11741	137	72			PROPN
dem-11741	137	73			NOUN
dem-11741	137	74			NOUN
dem-11741	137	75			VERB
dem-11741	137	76			PROPN
dem-11741	137	77	k	k	PROPN
dem-11741	137	78	ks	ks	PROPN
dem-11741	137	79			INTJ
dem-11741	137	80			PROPN
dem-11741	137	81			ADJ
dem-11741	137	82			ADJ
dem-11741	137	83			NOUN
dem-11741	137	84	(	(	PUNCT
dem-11741	137	85	10	10	NUM
dem-11741	137	86	)	)	PUNCT
dem-11741	137	87	włodarczyk	włodarczyk	NOUN
dem-11741	137	88	,	,	PUNCT
dem-11741	137	89	otola	otola	PROPN
dem-11741	137	90	dynamic	dynamic	ADJ
dem-11741	137	91	econometric	econometric	ADJ
dem-11741	137	92	models	model	NOUN
dem-11741	137	93	16	16	NUM
dem-11741	137	94	(	(	PUNCT
dem-11741	137	95	2016	2016	NUM
dem-11741	137	96	)	)	PUNCT
dem-11741	138	1	87–116	87–116	PROPN
dem-11741	139	1	96	96	NUM
dem-11741	139	2	.1	.1	NUM
dem-11741	139	3	1	1	NUM
dem-11741	139	4	2	2	NUM
dem-11741	139	5	2	2	NUM
dem-11741	139	6	22	22	NUM
dem-11741	139	7	ss	ss	NOUN
dem-11741	139	8	k	k	PROPN
dem-11741	140	1	k	k	PROPN
dem-11741	140	2			PUNCT
dem-11741	140	3			NOUN
dem-11741	140	4			NOUN
dem-11741	140	5			PRON
dem-11741	140	6			PROPN
dem-11741	140	7			PROPN
dem-11741	140	8			NOUN
dem-11741	140	9			PRON
dem-11741	140	10	(	(	PUNCT
dem-11741	140	11	11	11	NUM
dem-11741	140	12	)	)	PUNCT
dem-11741	140	13	the	the	DET
dem-11741	140	14	value	value	NOUN
dem-11741	140	15	of	of	ADP
dem-11741	140	16	the	the	DET
dem-11741	140	17	asymmetry	asymmetry	NOUN
dem-11741	140	18	parameter	parameter	NOUN
dem-11741	140	19	ln(k	ln(k	PUNCT
dem-11741	140	20	)	)	PUNCT
dem-11741	140	21	determined	determine	VERB
dem-11741	140	22	the	the	DET
dem-11741	140	23	type	type	NOUN
dem-11741	140	24	of	of	ADP
dem-11741	140	25	skewness	skewness	NOUN
dem-11741	140	26	,	,	PUNCT
dem-11741	140	27	that	that	ADV
dem-11741	140	28	is	is	ADV
dem-11741	140	29	,	,	PUNCT
dem-11741	140	30	if	if	SCONJ
dem-11741	140	31	0)ln	0)ln	PUNCT
dem-11741	140	32	(	(	PUNCT
dem-11741	140	33	k	k	PROPN
dem-11741	140	34	,	,	PUNCT
dem-11741	140	35	the	the	DET
dem-11741	140	36	density	density	NOUN
dem-11741	140	37	is	be	AUX
dem-11741	140	38	right	right	ADV
dem-11741	140	39	skewed	skewed	ADJ
dem-11741	140	40	and	and	CCONJ
dem-11741	140	41	if	if	SCONJ
dem-11741	140	42	0)ln	0)ln	NOUN
dem-11741	140	43	(	(	PUNCT
dem-11741	140	44	k	k	NOUN
dem-11741	140	45	,	,	PUNCT
dem-11741	140	46	the	the	DET
dem-11741	140	47	density	density	NOUN
dem-11741	140	48	is	be	AUX
dem-11741	140	49	left	leave	VERB
dem-11741	140	50	skewed	skewed	ADJ
dem-11741	140	51	.	.	PUNCT
dem-11741	141	1	3	3	X
dem-11741	141	2	.	.	X
dem-11741	141	3	data	datum	NOUN
dem-11741	141	4	description	description	NOUN
dem-11741	141	5	empirical	empirical	ADJ
dem-11741	141	6	research	research	NOUN
dem-11741	141	7	were	be	AUX
dem-11741	141	8	conducted	conduct	VERB
dem-11741	141	9	for	for	ADP
dem-11741	141	10	the	the	DET
dem-11741	141	11	chosen	choose	VERB
dem-11741	141	12	companies	company	NOUN
dem-11741	141	13	from	from	ADP
dem-11741	141	14	construction	construction	NOUN
dem-11741	141	15	and	and	CCONJ
dem-11741	141	16	it	it	PRON
dem-11741	141	17	sector	sector	NOUN
dem-11741	141	18	listed	list	VERB
dem-11741	141	19	on	on	ADP
dem-11741	141	20	the	the	DET
dem-11741	141	21	main	main	ADJ
dem-11741	141	22	market	market	NOUN
dem-11741	141	23	of	of	ADP
dem-11741	141	24	the	the	DET
dem-11741	141	25	warsaw	warsaw	PROPN
dem-11741	141	26	stock	stock	PROPN
dem-11741	141	27	exchange	exchange	PROPN
dem-11741	141	28	whereas	whereas	SCONJ
dem-11741	141	29	restrictive	restrictive	ADJ
dem-11741	141	30	provisions	provision	NOUN
dem-11741	141	31	which	which	PRON
dem-11741	141	32	these	these	DET
dem-11741	141	33	companies	company	NOUN
dem-11741	141	34	had	have	VERB
dem-11741	141	35	to	to	PART
dem-11741	141	36	meet	meet	VERB
dem-11741	141	37	in	in	ADP
dem-11741	141	38	order	order	NOUN
dem-11741	141	39	to	to	PART
dem-11741	141	40	be	be	AUX
dem-11741	141	41	able	able	ADJ
dem-11741	141	42	to	to	PART
dem-11741	141	43	exist	exist	VERB
dem-11741	141	44	on	on	ADP
dem-11741	141	45	it	it	PRON
dem-11741	141	46	.	.	PUNCT
dem-11741	142	1	to	to	ADP
dem-11741	142	2	the	the	DET
dem-11741	142	3	research	research	NOUN
dem-11741	142	4	17	17	NUM
dem-11741	142	5	companies	company	NOUN
dem-11741	142	6	from	from	ADP
dem-11741	142	7	the	the	DET
dem-11741	142	8	construction	construction	NOUN
dem-11741	142	9	sector	sector	NOUN
dem-11741	142	10	were	be	AUX
dem-11741	142	11	chosen	choose	VERB
dem-11741	142	12	in	in	ADP
dem-11741	142	13	the	the	DET
dem-11741	142	14	stable	stable	ADJ
dem-11741	142	15	period	period	NOUN
dem-11741	142	16	and	and	CCONJ
dem-11741	142	17	during	during	ADP
dem-11741	142	18	a	a	DET
dem-11741	142	19	turbulent	turbulent	ADJ
dem-11741	142	20	three	three	NUM
dem-11741	142	21	more	more	ADJ
dem-11741	142	22	.	.	PUNCT
dem-11741	143	1	the	the	DET
dem-11741	143	2	it	it	PRON
dem-11741	143	3	sector	sector	NOUN
dem-11741	143	4	study	study	NOUN
dem-11741	143	5	involved	involve	VERB
dem-11741	143	6	10	10	NUM
dem-11741	143	7	companies	company	NOUN
dem-11741	143	8	during	during	ADP
dem-11741	143	9	the	the	DET
dem-11741	143	10	stable	stable	ADJ
dem-11741	143	11	period	period	NOUN
dem-11741	143	12	and	and	CCONJ
dem-11741	143	13	20	20	NUM
dem-11741	143	14	in	in	ADP
dem-11741	143	15	a	a	DET
dem-11741	143	16	turbulent	turbulent	ADJ
dem-11741	143	17	period	period	NOUN
dem-11741	143	18	.	.	PUNCT
dem-11741	144	1	the	the	DET
dem-11741	144	2	authors	author	NOUN
dem-11741	144	3	excluded	exclude	VERB
dem-11741	144	4	from	from	ADP
dem-11741	144	5	the	the	DET
dem-11741	144	6	research	research	NOUN
dem-11741	144	7	sample	sample	NOUN
dem-11741	144	8	enterprises	enterprise	NOUN
dem-11741	144	9	which	which	PRON
dem-11741	144	10	in	in	ADP
dem-11741	144	11	the	the	DET
dem-11741	144	12	given	give	VERB
dem-11741	144	13	sub	sub	NOUN
dem-11741	144	14	-	-	NOUN
dem-11741	144	15	period	period	NOUN
dem-11741	144	16	withdrew	withdraw	VERB
dem-11741	144	17	from	from	ADP
dem-11741	144	18	the	the	DET
dem-11741	144	19	market	market	NOUN
dem-11741	144	20	or	or	CCONJ
dem-11741	144	21	their	their	PRON
dem-11741	144	22	debuts	debut	NOUN
dem-11741	144	23	took	take	VERB
dem-11741	144	24	place	place	NOUN
dem-11741	144	25	in	in	ADP
dem-11741	144	26	the	the	DET
dem-11741	144	27	course	course	NOUN
dem-11741	144	28	of	of	ADP
dem-11741	144	29	the	the	DET
dem-11741	144	30	given	give	VERB
dem-11741	144	31	sub	sub	NOUN
dem-11741	144	32	-	-	NOUN
dem-11741	144	33	period	period	NOUN
dem-11741	144	34	.	.	PUNCT
dem-11741	145	1	data	datum	NOUN
dem-11741	145	2	were	be	AUX
dem-11741	145	3	obtained	obtain	VERB
dem-11741	145	4	from	from	ADP
dem-11741	145	5	the	the	DET
dem-11741	145	6	notoria	notoria	PROPN
dem-11741	145	7	service	service	NOUN
dem-11741	145	8	and	and	CCONJ
dem-11741	145	9	consist	consist	VERB
dem-11741	145	10	of	of	ADP
dem-11741	145	11	2013	2013	NUM
dem-11741	145	12	daily	daily	ADJ
dem-11741	145	13	observations	observation	NOUN
dem-11741	145	14	of	of	ADP
dem-11741	145	15	high	high	ADJ
dem-11741	145	16	,	,	PUNCT
dem-11741	145	17	low	low	ADJ
dem-11741	145	18	,	,	PUNCT
dem-11741	145	19	open	open	ADJ
dem-11741	145	20	and	and	CCONJ
dem-11741	145	21	close	close	ADJ
dem-11741	145	22	prices	price	NOUN
dem-11741	145	23	for	for	ADP
dem-11741	145	24	analyzed	analyze	VERB
dem-11741	145	25	companies	company	NOUN
dem-11741	145	26	from	from	ADP
dem-11741	145	27	january	january	PROPN
dem-11741	145	28	2	2	NUM
dem-11741	145	29	,	,	PUNCT
dem-11741	145	30	2004	2004	NUM
dem-11741	145	31	to	to	ADP
dem-11741	145	32	december	december	PROPN
dem-11741	145	33	30	30	NUM
dem-11741	145	34	,	,	PUNCT
dem-11741	145	35	2011	2011	NUM
dem-11741	145	36	.	.	PUNCT
dem-11741	146	1	the	the	DET
dem-11741	146	2	starting	starting	NOUN
dem-11741	146	3	point	point	NOUN
dem-11741	146	4	is	be	AUX
dem-11741	146	5	determining	determine	VERB
dem-11741	146	6	the	the	DET
dem-11741	146	7	breakthrough	breakthrough	NOUN
dem-11741	146	8	on	on	ADP
dem-11741	146	9	the	the	DET
dem-11741	146	10	basis	basis	NOUN
dem-11741	146	11	of	of	ADP
dem-11741	146	12	which	which	PRON
dem-11741	146	13	it	it	PRON
dem-11741	146	14	is	be	AUX
dem-11741	146	15	possible	possible	ADJ
dem-11741	146	16	to	to	PART
dem-11741	146	17	distinguish	distinguish	VERB
dem-11741	146	18	two	two	NUM
dem-11741	146	19	sub	sub	NOUN
dem-11741	146	20	-	-	ADJ
dem-11741	146	21	periods	period	NOUN
dem-11741	146	22	:	:	PUNCT
dem-11741	146	23	the	the	DET
dem-11741	146	24	stable	stable	ADJ
dem-11741	146	25	period	period	NOUN
dem-11741	146	26	which	which	PRON
dem-11741	146	27	corresponds	correspond	VERB
dem-11741	146	28	to	to	ADP
dem-11741	146	29	low	low	ADJ
dem-11741	146	30	stock	stock	NOUN
dem-11741	146	31	market	market	NOUN
dem-11741	146	32	volatility	volatility	NOUN
dem-11741	146	33	and	and	CCONJ
dem-11741	146	34	the	the	DET
dem-11741	146	35	turbulent	turbulent	ADJ
dem-11741	146	36	period	period	NOUN
dem-11741	146	37	characterized	characterize	VERB
dem-11741	146	38	by	by	ADP
dem-11741	146	39	high	high	ADJ
dem-11741	146	40	market	market	NOUN
dem-11741	146	41	volatility	volatility	NOUN
dem-11741	146	42	.	.	PUNCT
dem-11741	147	1	first	first	ADJ
dem-11741	147	2	symptoms	symptom	NOUN
dem-11741	147	3	of	of	ADP
dem-11741	147	4	growing	grow	VERB
dem-11741	147	5	volatility	volatility	NOUN
dem-11741	147	6	of	of	ADP
dem-11741	147	7	main	main	ADJ
dem-11741	147	8	indexes	index	NOUN
dem-11741	147	9	of	of	ADP
dem-11741	147	10	american	american	ADJ
dem-11741	147	11	market	market	NOUN
dem-11741	147	12	(	(	PUNCT
dem-11741	147	13	djia	djia	PROPN
dem-11741	147	14	,	,	PUNCT
dem-11741	147	15	nasdaq	nasdaq	PROPN
dem-11741	147	16	,	,	PUNCT
dem-11741	147	17	s&p500	s&p500	PROPN
dem-11741	147	18	)	)	PUNCT
dem-11741	147	19	can	can	AUX
dem-11741	147	20	be	be	AUX
dem-11741	147	21	observed	observe	VERB
dem-11741	147	22	in	in	ADP
dem-11741	147	23	july	july	PROPN
dem-11741	147	24	and	and	CCONJ
dem-11741	147	25	august	august	PROPN
dem-11741	147	26	of	of	ADP
dem-11741	147	27	2007	2007	NUM
dem-11741	147	28	.	.	PUNCT
dem-11741	148	1	they	they	PRON
dem-11741	148	2	are	be	AUX
dem-11741	148	3	accompanied	accompany	VERB
dem-11741	148	4	by	by	ADP
dem-11741	148	5	bankruptcy	bankruptcy	NOUN
dem-11741	148	6	of	of	ADP
dem-11741	148	7	two	two	NUM
dem-11741	148	8	hedging	hedge	VERB
dem-11741	148	9	funds	fund	NOUN
dem-11741	148	10	of	of	ADP
dem-11741	148	11	bear	bear	PROPN
dem-11741	148	12	stearns	stearns	PROPN
dem-11741	148	13	bank	bank	PROPN
dem-11741	148	14	connected	connect	VERB
dem-11741	148	15	with	with	ADP
dem-11741	148	16	the	the	DET
dem-11741	148	17	mortgage	mortgage	NOUN
dem-11741	148	18	market	market	NOUN
dem-11741	148	19	in	in	ADP
dem-11741	148	20	the	the	DET
dem-11741	148	21	usa	usa	PROPN
dem-11741	148	22	(	(	PUNCT
dem-11741	148	23	july	july	PROPN
dem-11741	148	24	2007	2007	NUM
dem-11741	148	25	)	)	PUNCT
dem-11741	148	26	,	,	PUNCT
dem-11741	148	27	as	as	ADV
dem-11741	148	28	well	well	ADV
dem-11741	148	29	as	as	ADP
dem-11741	148	30	the	the	DET
dem-11741	148	31	insolvency	insolvency	NOUN
dem-11741	148	32	of	of	ADP
dem-11741	148	33	three	three	NUM
dem-11741	148	34	funds	fund	NOUN
dem-11741	148	35	of	of	ADP
dem-11741	148	36	the	the	DET
dem-11741	148	37	french	french	ADJ
dem-11741	148	38	bank	bank	PROPN
dem-11741	148	39	bnp	bnp	PROPN
dem-11741	148	40	paribas	paribas	PROPN
dem-11741	148	41	investing	invest	VERB
dem-11741	148	42	in	in	ADP
dem-11741	148	43	the	the	DET
dem-11741	148	44	bonds	bond	NOUN
dem-11741	148	45	market	market	NOUN
dem-11741	148	46	secured	secure	VERB
dem-11741	148	47	with	with	ADP
dem-11741	148	48	mortgages	mortgage	NOUN
dem-11741	148	49	subprime	subprime	ADJ
dem-11741	148	50	(	(	PUNCT
dem-11741	148	51	9	9	NUM
dem-11741	148	52	august	august	NOUN
dem-11741	148	53	2007	2007	NUM
dem-11741	148	54	)	)	PUNCT
dem-11741	148	55	(	(	PUNCT
dem-11741	148	56	otola	otola	PROPN
dem-11741	148	57	,	,	PUNCT
dem-11741	148	58	2013	2013	NUM
dem-11741	148	59	;	;	PUNCT
dem-11741	148	60	burzała	burzała	NOUN
dem-11741	148	61	,	,	PUNCT
dem-11741	148	62	2013	2013	NUM
dem-11741	148	63	;	;	PUNCT
dem-11741	148	64	dungay	dungay	PROPN
dem-11741	148	65	et	et	PROPN
dem-11741	148	66	al	al	PROPN
dem-11741	148	67	.	.	PROPN
dem-11741	148	68	,	,	PUNCT
dem-11741	148	69	2011	2011	NUM
dem-11741	148	70	)	)	PUNCT
dem-11741	148	71	.	.	PUNCT
dem-11741	149	1	the	the	DET
dem-11741	149	2	analyzed	analyze	VERB
dem-11741	149	3	period	period	NOUN
dem-11741	149	4	was	be	AUX
dem-11741	149	5	divided	divide	VERB
dem-11741	149	6	into	into	ADP
dem-11741	149	7	two	two	NUM
dem-11741	149	8	sub	sub	NOUN
dem-11741	149	9	-	-	NOUN
dem-11741	149	10	samples	sample	NOUN
dem-11741	149	11	:	:	PUNCT
dem-11741	149	12			VERB
dem-11741	149	13	the	the	DET
dem-11741	149	14	stable	stable	ADJ
dem-11741	149	15	period	period	NOUN
dem-11741	149	16	(	(	PUNCT
dem-11741	149	17	02.01.2004–25.07.2007	02.01.2004–25.07.2007	NUM
dem-11741	149	18	)	)	PUNCT
dem-11741	149	19	–	–	PUNCT
dem-11741	149	20	899	899	NUM
dem-11741	149	21	observations	observation	NOUN
dem-11741	149	22	;	;	PUNCT
dem-11741	149	23			VERB
dem-11741	149	24	the	the	DET
dem-11741	149	25	turbulent	turbulent	ADJ
dem-11741	149	26	period	period	NOUN
dem-11741	149	27	(	(	PUNCT
dem-11741	149	28	26.07.2007–31.12.2011	26.07.2007–31.12.2011	NUM
dem-11741	149	29	)	)	PUNCT
dem-11741	149	30	–	–	PUNCT
dem-11741	149	31	1114	1114	NUM
dem-11741	149	32	observations	observation	NOUN
dem-11741	149	33	.	.	PUNCT
dem-11741	150	1	due	due	ADP
dem-11741	150	2	to	to	ADP
dem-11741	150	3	the	the	DET
dem-11741	150	4	prolonging	prolonging	ADJ
dem-11741	150	5	period	period	NOUN
dem-11741	150	6	of	of	ADP
dem-11741	150	7	instability	instability	NOUN
dem-11741	150	8	on	on	ADP
dem-11741	150	9	the	the	DET
dem-11741	150	10	european	european	ADJ
dem-11741	150	11	financial	financial	ADJ
dem-11741	150	12	market	market	NOUN
dem-11741	150	13	,	,	PUNCT
dem-11741	150	14	caused	cause	VERB
dem-11741	150	15	not	not	PART
dem-11741	150	16	only	only	ADV
dem-11741	150	17	by	by	ADP
dem-11741	150	18	the	the	DET
dem-11741	150	19	occurrence	occurrence	NOUN
dem-11741	150	20	of	of	ADP
dem-11741	150	21	the	the	DET
dem-11741	150	22	subprime	subprime	ADJ
dem-11741	150	23	crisis	crisis	NOUN
dem-11741	150	24	,	,	PUNCT
dem-11741	150	25	but	but	CCONJ
dem-11741	150	26	also	also	ADV
dem-11741	150	27	the	the	DET
dem-11741	150	28	debt	debt	NOUN
dem-11741	150	29	crisis	crisis	NOUN
dem-11741	150	30	in	in	ADP
dem-11741	150	31	the	the	DET
dem-11741	150	32	peripheral	peripheral	ADJ
dem-11741	150	33	countries	country	NOUN
dem-11741	150	34	of	of	ADP
dem-11741	150	35	the	the	DET
dem-11741	150	36	eu	eu	PROPN
dem-11741	150	37	zone	zone	PROPN
dem-11741	150	38	,	,	PUNCT
dem-11741	150	39	the	the	DET
dem-11741	150	40	turbulent	turbulent	ADJ
dem-11741	150	41	period	period	NOUN
dem-11741	150	42	in	in	ADP
dem-11741	150	43	the	the	DET
dem-11741	150	44	present	present	ADJ
dem-11741	150	45	analysis	analysis	NOUN
dem-11741	150	46	was	be	AUX
dem-11741	150	47	lengthened	lengthen	VERB
dem-11741	150	48	to	to	ADP
dem-11741	150	49	the	the	DET
dem-11741	150	50	end	end	NOUN
dem-11741	150	51	of	of	ADP
dem-11741	150	52	the	the	DET
dem-11741	150	53	year	year	NOUN
dem-11741	150	54	2011	2011	NUM
dem-11741	150	55	.	.	PUNCT
dem-11741	151	1	selection	selection	NOUN
dem-11741	151	2	of	of	ADP
dem-11741	151	3	sectors	sector	NOUN
dem-11741	151	4	was	be	AUX
dem-11741	151	5	conducted	conduct	VERB
dem-11741	151	6	on	on	ADP
dem-11741	151	7	the	the	DET
dem-11741	151	8	following	following	ADJ
dem-11741	151	9	basis	basis	NOUN
dem-11741	151	10	.	.	PUNCT
dem-11741	152	1	the	the	DET
dem-11741	152	2	construction	construction	NOUN
dem-11741	152	3	sector	sector	NOUN
dem-11741	152	4	is	be	AUX
dem-11741	152	5	most	most	ADV
dem-11741	152	6	connected	connected	ADJ
dem-11741	152	7	with	with	ADP
dem-11741	152	8	the	the	DET
dem-11741	152	9	country	country	NOUN
dem-11741	152	10	's	's	PART
dem-11741	152	11	economy	economy	NOUN
dem-11741	152	12	and	and	CCONJ
dem-11741	152	13	most	most	ADJ
dem-11741	152	14	susceptianalysis	susceptianalysis	NOUN
dem-11741	152	15	of	of	ADP
dem-11741	152	16	the	the	DET
dem-11741	152	17	relationship	relationship	NOUN
dem-11741	152	18	between	between	ADP
dem-11741	152	19	market	market	NOUN
dem-11741	152	20	volatility	volatility	NOUN
dem-11741	152	21	and	and	CCONJ
dem-11741	152	22	firms	firm	NOUN
dem-11741	152	23	volatility	volatility	NOUN
dem-11741	152	24	…	…	SYM
dem-11741	152	25	dynamic	dynamic	ADJ
dem-11741	152	26	econometric	econometric	ADJ
dem-11741	152	27	models	model	NOUN
dem-11741	152	28	16	16	NUM
dem-11741	152	29	(	(	PUNCT
dem-11741	152	30	2016	2016	NUM
dem-11741	152	31	)	)	PUNCT
dem-11741	153	1	87–116	87–116	PROPN
dem-11741	153	2	97	97	NUM
dem-11741	153	3	ble	ble	NOUN
dem-11741	153	4	to	to	ADP
dem-11741	153	5	gdp	gdp	NOUN
dem-11741	153	6	changes	change	NOUN
dem-11741	153	7	.	.	PUNCT
dem-11741	154	1	it	it	PRON
dem-11741	154	2	is	be	AUX
dem-11741	154	3	also	also	ADV
dem-11741	154	4	most	most	ADV
dem-11741	154	5	strongly	strongly	ADV
dem-11741	154	6	represented	represent	VERB
dem-11741	154	7	sector	sector	NOUN
dem-11741	154	8	on	on	ADP
dem-11741	154	9	the	the	DET
dem-11741	154	10	polish	polish	ADJ
dem-11741	154	11	stock	stock	NOUN
dem-11741	154	12	market	market	NOUN
dem-11741	154	13	.	.	PUNCT
dem-11741	155	1	moreover	moreover	ADV
dem-11741	155	2	,	,	PUNCT
dem-11741	155	3	since	since	SCONJ
dem-11741	155	4	2004	2004	NUM
dem-11741	155	5	poland	poland	PROPN
dem-11741	155	6	as	as	ADP
dem-11741	155	7	a	a	DET
dem-11741	155	8	member	member	NOUN
dem-11741	155	9	of	of	ADP
dem-11741	155	10	the	the	DET
dem-11741	155	11	european	european	PROPN
dem-11741	155	12	union	union	PROPN
dem-11741	155	13	has	have	AUX
dem-11741	155	14	been	be	AUX
dem-11741	155	15	receiving	receive	VERB
dem-11741	155	16	financial	financial	ADJ
dem-11741	155	17	resources	resource	NOUN
dem-11741	155	18	within	within	ADP
dem-11741	155	19	european	european	ADJ
dem-11741	155	20	funds	fund	NOUN
dem-11741	155	21	to	to	PART
dem-11741	155	22	improve	improve	VERB
dem-11741	155	23	the	the	DET
dem-11741	155	24	living	living	NOUN
dem-11741	155	25	conditions	condition	NOUN
dem-11741	155	26	of	of	ADP
dem-11741	155	27	inhabitants	inhabitant	NOUN
dem-11741	155	28	.	.	PUNCT
dem-11741	156	1	in	in	ADP
dem-11741	156	2	the	the	DET
dem-11741	156	3	course	course	NOUN
dem-11741	156	4	of	of	ADP
dem-11741	156	5	the	the	DET
dem-11741	156	6	second	second	ADJ
dem-11741	156	7	programming	programming	NOUN
dem-11741	156	8	period	period	NOUN
dem-11741	156	9	(	(	PUNCT
dem-11741	156	10	2007–2013	2007–2013	NUM
dem-11741	156	11	)	)	PUNCT
dem-11741	156	12	poland	poland	PROPN
dem-11741	156	13	received	receive	VERB
dem-11741	156	14	about	about	ADP
dem-11741	156	15	242,3	242,3	NUM
dem-11741	156	16	billion	billion	NUM
dem-11741	156	17	pln	pln	PROPN
dem-11741	156	18	,	,	PUNCT
dem-11741	156	19	the	the	DET
dem-11741	156	20	part	part	NOUN
dem-11741	156	21	of	of	ADP
dem-11741	156	22	which	which	PRON
dem-11741	156	23	was	be	AUX
dem-11741	156	24	destined	destine	VERB
dem-11741	156	25	for	for	ADP
dem-11741	156	26	public	public	ADJ
dem-11741	156	27	infrastructural	infrastructural	ADJ
dem-11741	156	28	investments	investment	NOUN
dem-11741	156	29	,	,	PUNCT
dem-11741	156	30	both	both	CCONJ
dem-11741	156	31	in	in	ADP
dem-11741	156	32	the	the	DET
dem-11741	156	33	scope	scope	NOUN
dem-11741	156	34	of	of	ADP
dem-11741	156	35	road	road	NOUN
dem-11741	156	36	construction	construction	NOUN
dem-11741	156	37	as	as	ADV
dem-11741	156	38	well	well	ADV
dem-11741	156	39	as	as	ADP
dem-11741	156	40	other	other	ADJ
dem-11741	156	41	public	public	ADJ
dem-11741	156	42	facilities	facility	NOUN
dem-11741	156	43	.	.	PUNCT
dem-11741	157	1	about	about	ADV
dem-11741	157	2	48	48	NUM
dem-11741	157	3	%	%	NOUN
dem-11741	157	4	of	of	ADP
dem-11741	157	5	allocated	allocate	VERB
dem-11741	157	6	within	within	ADP
dem-11741	157	7	structural	structural	ADJ
dem-11741	157	8	funds	fund	NOUN
dem-11741	157	9	resources	resource	NOUN
dem-11741	157	10	were	be	AUX
dem-11741	157	11	used	use	VERB
dem-11741	157	12	to	to	PART
dem-11741	157	13	execute	execute	VERB
dem-11741	157	14	the	the	DET
dem-11741	157	15	infrastructure	infrastructure	NOUN
dem-11741	157	16	and	and	CCONJ
dem-11741	157	17	environment	environment	NOUN
dem-11741	157	18	programme	programme	NOUN
dem-11741	157	19	.	.	PUNCT
dem-11741	158	1	additionally	additionally	ADV
dem-11741	158	2	,	,	PUNCT
dem-11741	158	3	the	the	DET
dem-11741	158	4	decision	decision	NOUN
dem-11741	158	5	of	of	ADP
dem-11741	158	6	uefa	uefa	PROPN
dem-11741	158	7	in	in	ADP
dem-11741	158	8	the	the	DET
dem-11741	158	9	ii	ii	PROPN
dem-11741	158	10	quarter	quarter	NOUN
dem-11741	158	11	of	of	ADP
dem-11741	158	12	2007	2007	NUM
dem-11741	158	13	to	to	PART
dem-11741	158	14	give	give	VERB
dem-11741	158	15	the	the	DET
dem-11741	158	16	right	right	NOUN
dem-11741	158	17	to	to	PART
dem-11741	158	18	organize	organize	VERB
dem-11741	158	19	the	the	DET
dem-11741	158	20	european	european	PROPN
dem-11741	158	21	football	football	NOUN
dem-11741	158	22	championship	championship	NOUN
dem-11741	158	23	–	–	PUNCT
dem-11741	158	24	euro	euro	NOUN
dem-11741	158	25	2012	2012	NUM
dem-11741	158	26	in	in	ADP
dem-11741	158	27	poland	poland	PROPN
dem-11741	158	28	and	and	CCONJ
dem-11741	158	29	ukraine	ukraine	NOUN
dem-11741	158	30	was	be	AUX
dem-11741	158	31	also	also	ADV
dem-11741	158	32	connected	connect	VERB
dem-11741	158	33	with	with	ADP
dem-11741	158	34	the	the	DET
dem-11741	158	35	necessity	necessity	NOUN
dem-11741	158	36	to	to	PART
dem-11741	158	37	complete	complete	VERB
dem-11741	158	38	numerous	numerous	ADJ
dem-11741	158	39	construction	construction	NOUN
dem-11741	158	40	investments	investment	NOUN
dem-11741	158	41	in	in	ADP
dem-11741	158	42	short	short	ADJ
dem-11741	158	43	time	time	NOUN
dem-11741	158	44	.	.	PUNCT
dem-11741	159	1	according	accord	VERB
dem-11741	159	2	to	to	ADP
dem-11741	159	3	the	the	DET
dem-11741	159	4	central	central	ADJ
dem-11741	159	5	statistical	statistical	ADJ
dem-11741	159	6	office	office	NOUN
dem-11741	159	7	since	since	SCONJ
dem-11741	159	8	the	the	DET
dem-11741	159	9	year	year	NOUN
dem-11741	159	10	2005	2005	NUM
dem-11741	159	11	the	the	DET
dem-11741	159	12	construction	construction	NOUN
dem-11741	159	13	sector	sector	NOUN
dem-11741	159	14	was	be	AUX
dem-11741	159	15	the	the	DET
dem-11741	159	16	fastest	fast	ADJ
dem-11741	159	17	growing	grow	VERB
dem-11741	159	18	sector	sector	NOUN
dem-11741	159	19	of	of	ADP
dem-11741	159	20	polish	polish	ADJ
dem-11741	159	21	economy	economy	NOUN
dem-11741	159	22	.	.	PUNCT
dem-11741	160	1	moreover	moreover	ADV
dem-11741	160	2	,	,	PUNCT
dem-11741	160	3	this	this	DET
dem-11741	160	4	sector	sector	NOUN
dem-11741	160	5	is	be	AUX
dem-11741	160	6	the	the	DET
dem-11741	160	7	most	most	ADV
dem-11741	160	8	abundantly	abundantly	ADV
dem-11741	160	9	represented	represent	VERB
dem-11741	160	10	sector	sector	NOUN
dem-11741	160	11	on	on	ADP
dem-11741	160	12	the	the	DET
dem-11741	160	13	warsaw	warsaw	PROPN
dem-11741	160	14	stock	stock	PROPN
dem-11741	160	15	exchange	exchange	PROPN
dem-11741	160	16	.	.	PUNCT
dem-11741	161	1	we	we	PRON
dem-11741	161	2	claim	claim	VERB
dem-11741	161	3	that	that	SCONJ
dem-11741	161	4	there	there	PRON
dem-11741	161	5	is	be	VERB
dem-11741	161	6	no	no	DET
dem-11741	161	7	significant	significant	ADJ
dem-11741	161	8	increase	increase	NOUN
dem-11741	161	9	in	in	ADP
dem-11741	161	10	the	the	DET
dem-11741	161	11	fraction	fraction	NOUN
dem-11741	161	12	of	of	ADP
dem-11741	161	13	firms	firm	NOUN
dem-11741	161	14	,	,	PUNCT
dem-11741	161	15	belonging	belong	VERB
dem-11741	161	16	to	to	ADP
dem-11741	161	17	the	the	DET
dem-11741	161	18	construction	construction	NOUN
dem-11741	161	19	sector	sector	NOUN
dem-11741	161	20	,	,	PUNCT
dem-11741	161	21	whose	whose	DET
dem-11741	161	22	volatility	volatility	NOUN
dem-11741	161	23	is	be	AUX
dem-11741	161	24	shaped	shape	VERB
dem-11741	161	25	by	by	ADP
dem-11741	161	26	market	market	NOUN
dem-11741	161	27	volatility	volatility	NOUN
dem-11741	161	28	in	in	ADP
dem-11741	161	29	the	the	DET
dem-11741	161	30	turbulent	turbulent	ADJ
dem-11741	161	31	period	period	NOUN
dem-11741	161	32	compared	compare	VERB
dem-11741	161	33	to	to	ADP
dem-11741	161	34	the	the	DET
dem-11741	161	35	stable	stable	ADJ
dem-11741	161	36	period	period	NOUN
dem-11741	161	37	.	.	PUNCT
dem-11741	162	1	thus	thus	ADV
dem-11741	162	2	,	,	PUNCT
dem-11741	162	3	one	one	PRON
dem-11741	162	4	can	can	AUX
dem-11741	162	5	expect	expect	VERB
dem-11741	162	6	that	that	SCONJ
dem-11741	162	7	external	external	ADJ
dem-11741	162	8	shocks	shock	NOUN
dem-11741	162	9	transmitted	transmit	VERB
dem-11741	162	10	on	on	ADP
dem-11741	162	11	the	the	DET
dem-11741	162	12	stock	stock	NOUN
dem-11741	162	13	market	market	NOUN
dem-11741	162	14	in	in	ADP
dem-11741	162	15	poland	poland	PROPN
dem-11741	162	16	in	in	ADP
dem-11741	162	17	the	the	DET
dem-11741	162	18	subprime	subprime	ADJ
dem-11741	162	19	crisis	crisis	NOUN
dem-11741	162	20	period	period	NOUN
dem-11741	162	21	and	and	CCONJ
dem-11741	162	22	the	the	DET
dem-11741	162	23	debt	debt	NOUN
dem-11741	162	24	crisis	crisis	NOUN
dem-11741	162	25	in	in	ADP
dem-11741	162	26	the	the	DET
dem-11741	162	27	euro	euro	NOUN
dem-11741	162	28	zone	zone	NOUN
dem-11741	162	29	should	should	AUX
dem-11741	162	30	not	not	PART
dem-11741	162	31	be	be	AUX
dem-11741	162	32	noticeable	noticeable	ADJ
dem-11741	162	33	by	by	ADP
dem-11741	162	34	the	the	DET
dem-11741	162	35	enterprises	enterprise	NOUN
dem-11741	162	36	of	of	ADP
dem-11741	162	37	this	this	DET
dem-11741	162	38	sector	sector	NOUN
dem-11741	162	39	.	.	PUNCT
dem-11741	163	1	claessens	claessen	NOUN
dem-11741	163	2	and	and	CCONJ
dem-11741	163	3	forbes	forbes	PROPN
dem-11741	163	4	(	(	PUNCT
dem-11741	163	5	2004	2004	NUM
dem-11741	163	6	)	)	PUNCT
dem-11741	163	7	emphasised	emphasise	VERB
dem-11741	163	8	the	the	DET
dem-11741	163	9	importance	importance	NOUN
dem-11741	163	10	of	of	ADP
dem-11741	163	11	investor	investor	NOUN
dem-11741	163	12	reactions	reaction	NOUN
dem-11741	163	13	in	in	ADP
dem-11741	163	14	the	the	DET
dem-11741	163	15	contagion	contagion	NOUN
dem-11741	163	16	process	process	NOUN
dem-11741	163	17	in	in	ADP
dem-11741	163	18	the	the	DET
dem-11741	163	19	liquidity	liquidity	NOUN
dem-11741	163	20	risk	risk	NOUN
dem-11741	163	21	context	context	NOUN
dem-11741	163	22	.	.	PUNCT
dem-11741	164	1	referring	refer	VERB
dem-11741	164	2	to	to	ADP
dem-11741	164	3	this	this	DET
dem-11741	164	4	theory	theory	NOUN
dem-11741	164	5	one	one	PRON
dem-11741	164	6	can	can	AUX
dem-11741	164	7	expect	expect	VERB
dem-11741	164	8	that	that	SCONJ
dem-11741	164	9	investors	investor	NOUN
dem-11741	164	10	having	have	VERB
dem-11741	164	11	in	in	ADP
dem-11741	164	12	mind	mind	NOUN
dem-11741	164	13	good	good	ADJ
dem-11741	164	14	development	development	NOUN
dem-11741	164	15	perspectives	perspective	NOUN
dem-11741	164	16	resulting	result	VERB
dem-11741	164	17	from	from	ADP
dem-11741	164	18	a	a	DET
dem-11741	164	19	substantial	substantial	ADJ
dem-11741	164	20	financing	financing	NOUN
dem-11741	164	21	of	of	ADP
dem-11741	164	22	this	this	DET
dem-11741	164	23	sector	sector	NOUN
dem-11741	164	24	with	with	ADP
dem-11741	164	25	structural	structural	ADJ
dem-11741	164	26	funds	fund	NOUN
dem-11741	164	27	should	should	AUX
dem-11741	164	28	not	not	PART
dem-11741	164	29	withdraw	withdraw	VERB
dem-11741	164	30	capital	capital	NOUN
dem-11741	164	31	located	locate	VERB
dem-11741	164	32	in	in	ADP
dem-11741	164	33	the	the	DET
dem-11741	164	34	stocks	stock	NOUN
dem-11741	164	35	of	of	ADP
dem-11741	164	36	construction	construction	NOUN
dem-11741	164	37	companies	company	NOUN
dem-11741	164	38	.	.	PUNCT
dem-11741	165	1	the	the	DET
dem-11741	165	2	second	second	ADJ
dem-11741	165	3	select	select	ADJ
dem-11741	165	4	sector	sector	NOUN
dem-11741	165	5	,	,	PUNCT
dem-11741	165	6	namely	namely	ADV
dem-11741	165	7	it	it	PRON
dem-11741	165	8	,	,	PUNCT
dem-11741	165	9	may	may	AUX
dem-11741	165	10	be	be	AUX
dem-11741	165	11	considered	consider	VERB
dem-11741	165	12	as	as	ADP
dem-11741	165	13	the	the	DET
dem-11741	165	14	one	one	NUM
dem-11741	165	15	based	base	VERB
dem-11741	165	16	on	on	ADP
dem-11741	165	17	knowledge	knowledge	NOUN
dem-11741	165	18	,	,	PUNCT
dem-11741	165	19	most	most	ADV
dem-11741	165	20	intellectual	intellectual	ADJ
dem-11741	165	21	and	and	CCONJ
dem-11741	165	22	innovative	innovative	ADJ
dem-11741	165	23	one	one	NUM
dem-11741	165	24	.	.	PUNCT
dem-11741	166	1	the	the	DET
dem-11741	166	2	it	it	PRON
dem-11741	166	3	sector	sector	NOUN
dem-11741	166	4	may	may	AUX
dem-11741	166	5	be	be	AUX
dem-11741	166	6	divided	divide	VERB
dem-11741	166	7	into	into	ADP
dem-11741	166	8	three	three	NUM
dem-11741	166	9	groups	group	NOUN
dem-11741	166	10	due	due	ADP
dem-11741	166	11	to	to	ADP
dem-11741	166	12	the	the	DET
dem-11741	166	13	form	form	NOUN
dem-11741	166	14	of	of	ADP
dem-11741	166	15	conducted	conduct	VERB
dem-11741	166	16	activity	activity	NOUN
dem-11741	166	17	:	:	PUNCT
dem-11741	166	18			NOUN
dem-11741	166	19	production	production	NOUN
dem-11741	166	20	of	of	ADP
dem-11741	166	21	it	it	PRON
dem-11741	166	22	equipment	equipment	NOUN
dem-11741	166	23	(	(	PUNCT
dem-11741	166	24	among	among	ADP
dem-11741	166	25	others	other	NOUN
dem-11741	166	26	comp	comp	PROPN
dem-11741	166	27	,	,	PUNCT
dem-11741	166	28	elzab	elzab	PROPN
dem-11741	166	29	,	,	PUNCT
dem-11741	166	30	novitus	novitus	PROPN
dem-11741	166	31	)	)	PUNCT
dem-11741	166	32	;	;	PUNCT
dem-11741	166	33			NOUN
dem-11741	166	34	software	software	NOUN
dem-11741	166	35	related	relate	VERB
dem-11741	166	36	services	service	NOUN
dem-11741	166	37	(	(	PUNCT
dem-11741	166	38	among	among	ADP
dem-11741	166	39	others	other	NOUN
dem-11741	166	40	asseco	asseco	PROPN
dem-11741	166	41	poland	poland	PROPN
dem-11741	166	42	,	,	PUNCT
dem-11741	166	43	comarch	comarch	NOUN
dem-11741	166	44	,	,	PUNCT
dem-11741	166	45	sygnity	sygnity	NOUN
dem-11741	166	46	)	)	PUNCT
dem-11741	166	47	;	;	PUNCT
dem-11741	166	48			NOUN
dem-11741	166	49	distribution	distribution	NOUN
dem-11741	166	50	of	of	ADP
dem-11741	166	51	it	it	PRON
dem-11741	166	52	solutions	solution	VERB
dem-11741	166	53	(	(	PUNCT
dem-11741	166	54	among	among	ADP
dem-11741	166	55	others	other	NOUN
dem-11741	166	56	arcus	arcus	NOUN
dem-11741	166	57	,	,	PUNCT
dem-11741	166	58	b3system	b3system	NOUN
dem-11741	166	59	,	,	PUNCT
dem-11741	166	60	nnt	nnt	X
dem-11741	166	61	system	system	NOUN
dem-11741	166	62	)	)	PUNCT
dem-11741	166	63	.	.	PUNCT
dem-11741	167	1	comparing	compare	VERB
dem-11741	167	2	it	it	PRON
dem-11741	167	3	with	with	ADP
dem-11741	167	4	the	the	DET
dem-11741	167	5	construction	construction	NOUN
dem-11741	167	6	sector	sector	NOUN
dem-11741	167	7	one	one	PRON
dem-11741	167	8	should	should	AUX
dem-11741	167	9	notice	notice	VERB
dem-11741	167	10	that	that	SCONJ
dem-11741	167	11	in	in	ADP
dem-11741	167	12	the	the	DET
dem-11741	167	13	analyzed	analyze	VERB
dem-11741	167	14	period	period	NOUN
dem-11741	167	15	a	a	DET
dem-11741	167	16	lot	lot	NOUN
dem-11741	167	17	of	of	ADP
dem-11741	167	18	enterprises	enterprise	NOUN
dem-11741	167	19	from	from	ADP
dem-11741	167	20	the	the	DET
dem-11741	167	21	it	it	PRON
dem-11741	167	22	sector	sector	NOUN
dem-11741	167	23	put	put	VERB
dem-11741	167	24	on	on	ADP
dem-11741	167	25	acquiring	acquire	VERB
dem-11741	167	26	capital	capital	NOUN
dem-11741	167	27	to	to	PART
dem-11741	167	28	conduct	conduct	VERB
dem-11741	167	29	activity	activity	NOUN
dem-11741	167	30	through	through	ADP
dem-11741	167	31	emission	emission	NOUN
dem-11741	167	32	of	of	ADP
dem-11741	167	33	shares	share	NOUN
dem-11741	167	34	(	(	PUNCT
dem-11741	167	35	see	see	VERB
dem-11741	167	36	table	table	NOUN
dem-11741	167	37	1	1	NUM
dem-11741	167	38	)	)	PUNCT
dem-11741	167	39	.	.	PUNCT
dem-11741	168	1	the	the	DET
dem-11741	168	2	resources	resource	NOUN
dem-11741	168	3	acquired	acquire	VERB
dem-11741	168	4	from	from	ADP
dem-11741	168	5	the	the	DET
dem-11741	168	6	shareholders	shareholder	NOUN
dem-11741	168	7	for	for	ADP
dem-11741	168	8	development	development	NOUN
dem-11741	168	9	of	of	ADP
dem-11741	168	10	this	this	DET
dem-11741	168	11	sector	sector	NOUN
dem-11741	168	12	are	be	AUX
dem-11741	168	13	used	use	VERB
dem-11741	168	14	not	not	PART
dem-11741	168	15	only	only	ADV
dem-11741	168	16	on	on	ADP
dem-11741	168	17	tangible	tangible	ADJ
dem-11741	168	18	investments	investment	NOUN
dem-11741	168	19	but	but	CCONJ
dem-11741	168	20	also	also	ADV
dem-11741	168	21	investments	investment	NOUN
dem-11741	168	22	in	in	ADP
dem-11741	168	23	intellectual	intellectual	ADJ
dem-11741	168	24	capital	capital	NOUN
dem-11741	168	25	.	.	PUNCT
dem-11741	169	1	moreover	moreover	ADV
dem-11741	169	2	,	,	PUNCT
dem-11741	169	3	development	development	NOUN
dem-11741	169	4	of	of	ADP
dem-11741	169	5	new	new	ADJ
dem-11741	169	6	and	and	CCONJ
dem-11741	169	7	growth	growth	NOUN
dem-11741	169	8	of	of	ADP
dem-11741	169	9	awareness	awareness	NOUN
dem-11741	169	10	of	of	ADP
dem-11741	169	11	needs	need	NOUN
dem-11741	169	12	in	in	ADP
dem-11741	169	13	the	the	DET
dem-11741	169	14	włodarczyk	włodarczyk	NOUN
dem-11741	169	15	,	,	PUNCT
dem-11741	169	16	otola	otola	PROPN
dem-11741	169	17	dynamic	dynamic	ADJ
dem-11741	169	18	econometric	econometric	ADJ
dem-11741	169	19	models	model	NOUN
dem-11741	169	20	16	16	NUM
dem-11741	169	21	(	(	PUNCT
dem-11741	169	22	2016	2016	NUM
dem-11741	169	23	)	)	PUNCT
dem-11741	170	1	87–116	87–116	PROPN
dem-11741	170	2	98	98	NUM
dem-11741	170	3	scope	scope	NOUN
dem-11741	170	4	of	of	ADP
dem-11741	170	5	it	it	PRON
dem-11741	170	6	also	also	ADV
dem-11741	170	7	in	in	ADP
dem-11741	170	8	the	the	DET
dem-11741	170	9	sector	sector	NOUN
dem-11741	170	10	of	of	ADP
dem-11741	170	11	small	small	ADJ
dem-11741	170	12	and	and	CCONJ
dem-11741	170	13	medium	medium	ADJ
dem-11741	170	14	enterprises	enterprise	NOUN
dem-11741	170	15	,	,	PUNCT
dem-11741	170	16	the	the	DET
dem-11741	170	17	use	use	NOUN
dem-11741	170	18	of	of	ADP
dem-11741	170	19	structural	structural	ADJ
dem-11741	170	20	funds	fund	NOUN
dem-11741	170	21	to	to	PART
dem-11741	170	22	liquidate	liquidate	VERB
dem-11741	170	23	disproportions	disproportion	NOUN
dem-11741	170	24	in	in	ADP
dem-11741	170	25	access	access	NOUN
dem-11741	170	26	to	to	ADP
dem-11741	170	27	tele	tele	NOUN
dem-11741	170	28	-	-	PUNCT
dem-11741	170	29	informatic	informatic	ADJ
dem-11741	170	30	technologies	technology	NOUN
dem-11741	170	31	in	in	ADP
dem-11741	170	32	rural	rural	ADJ
dem-11741	170	33	areas	area	NOUN
dem-11741	170	34	are	be	AUX
dem-11741	170	35	only	only	ADV
dem-11741	170	36	some	some	PRON
dem-11741	170	37	of	of	ADP
dem-11741	170	38	the	the	DET
dem-11741	170	39	factors	factor	NOUN
dem-11741	170	40	conditioning	condition	VERB
dem-11741	170	41	continuity	continuity	NOUN
dem-11741	170	42	of	of	ADP
dem-11741	170	43	operations	operation	NOUN
dem-11741	170	44	of	of	ADP
dem-11741	170	45	this	this	DET
dem-11741	170	46	sector	sector	NOUN
dem-11741	170	47	companies	company	NOUN
dem-11741	170	48	.	.	PUNCT
dem-11741	171	1	the	the	DET
dem-11741	171	2	it	it	PRON
dem-11741	171	3	sector	sector	NOUN
dem-11741	171	4	is	be	AUX
dem-11741	171	5	perceived	perceive	VERB
dem-11741	171	6	in	in	ADP
dem-11741	171	7	the	the	DET
dem-11741	171	8	world	world	NOUN
dem-11741	171	9	as	as	ADP
dem-11741	171	10	one	one	NUM
dem-11741	171	11	of	of	ADP
dem-11741	171	12	the	the	DET
dem-11741	171	13	most	most	ADJ
dem-11741	171	14	perspective	perspective	ADJ
dem-11741	171	15	ones	one	NOUN
dem-11741	171	16	,	,	PUNCT
dem-11741	171	17	the	the	DET
dem-11741	171	18	one	one	NOUN
dem-11741	171	19	which	which	PRON
dem-11741	171	20	creates	create	VERB
dem-11741	171	21	new	new	ADJ
dem-11741	171	22	innovative	innovative	ADJ
dem-11741	171	23	products	product	NOUN
dem-11741	171	24	,	,	PUNCT
dem-11741	171	25	such	such	ADJ
dem-11741	171	26	as	as	ADP
dem-11741	171	27	for	for	ADP
dem-11741	171	28	example	example	NOUN
dem-11741	171	29	mobile	mobile	NOUN
dem-11741	171	30	product	product	NOUN
dem-11741	171	31	applications	application	NOUN
dem-11741	171	32	or	or	CCONJ
dem-11741	171	33	development	development	NOUN
dem-11741	171	34	of	of	ADP
dem-11741	171	35	cloud	cloud	NOUN
dem-11741	171	36	services	service	NOUN
dem-11741	171	37	.	.	PUNCT
dem-11741	172	1	customers	customer	NOUN
dem-11741	172	2	of	of	ADP
dem-11741	172	3	products	product	NOUN
dem-11741	172	4	and	and	CCONJ
dem-11741	172	5	services	service	NOUN
dem-11741	172	6	of	of	ADP
dem-11741	172	7	the	the	DET
dem-11741	172	8	it	it	PRON
dem-11741	172	9	sector	sector	NOUN
dem-11741	172	10	are	be	AUX
dem-11741	172	11	primarily	primarily	ADV
dem-11741	172	12	enterprises	enterprise	NOUN
dem-11741	172	13	from	from	ADP
dem-11741	172	14	the	the	DET
dem-11741	172	15	public	public	ADJ
dem-11741	172	16	administration	administration	NOUN
dem-11741	172	17	sector	sector	NOUN
dem-11741	172	18	that	that	PRON
dem-11741	172	19	to	to	ADP
dem-11741	172	20	a	a	DET
dem-11741	172	21	large	large	ADJ
dem-11741	172	22	extent	extent	NOUN
dem-11741	172	23	use	use	NOUN
dem-11741	172	24	for	for	ADP
dem-11741	172	25	this	this	DET
dem-11741	172	26	purpose	purpose	NOUN
dem-11741	172	27	the	the	DET
dem-11741	172	28	resources	resource	NOUN
dem-11741	172	29	from	from	ADP
dem-11741	172	30	the	the	DET
dem-11741	172	31	european	european	ADJ
dem-11741	172	32	funds	fund	NOUN
dem-11741	172	33	.	.	PUNCT
dem-11741	173	1	more	more	ADV
dem-11741	173	2	important	important	ADJ
dem-11741	173	3	customers	customer	NOUN
dem-11741	173	4	of	of	ADP
dem-11741	173	5	services	service	NOUN
dem-11741	173	6	and	and	CCONJ
dem-11741	173	7	products	product	NOUN
dem-11741	173	8	from	from	ADP
dem-11741	173	9	the	the	DET
dem-11741	173	10	it	it	PRON
dem-11741	173	11	sector	sector	NOUN
dem-11741	173	12	are	be	AUX
dem-11741	173	13	enterprises	enterprise	NOUN
dem-11741	173	14	operating	operate	VERB
dem-11741	173	15	in	in	ADP
dem-11741	173	16	the	the	DET
dem-11741	173	17	banking	banking	NOUN
dem-11741	173	18	and	and	CCONJ
dem-11741	173	19	tele	tele	NOUN
dem-11741	173	20	-	-	PUNCT
dem-11741	173	21	communication	communication	NOUN
dem-11741	173	22	sectors	sector	NOUN
dem-11741	173	23	.	.	PUNCT
dem-11741	174	1	such	such	DET
dem-11741	174	2	a	a	DET
dem-11741	174	3	perception	perception	NOUN
dem-11741	174	4	of	of	ADP
dem-11741	174	5	the	the	DET
dem-11741	174	6	it	it	PRON
dem-11741	174	7	sector	sector	NOUN
dem-11741	174	8	by	by	ADP
dem-11741	174	9	the	the	DET
dem-11741	174	10	investors	investor	NOUN
dem-11741	174	11	should	should	AUX
dem-11741	174	12	contribute	contribute	VERB
dem-11741	174	13	to	to	ADP
dem-11741	174	14	the	the	DET
dem-11741	174	15	fact	fact	NOUN
dem-11741	174	16	that	that	SCONJ
dem-11741	174	17	the	the	DET
dem-11741	174	18	enterprises	enterprise	NOUN
dem-11741	174	19	listed	list	VERB
dem-11741	174	20	on	on	ADP
dem-11741	174	21	the	the	DET
dem-11741	174	22	stock	stock	NOUN
dem-11741	174	23	market	market	NOUN
dem-11741	174	24	should	should	AUX
dem-11741	174	25	show	show	VERB
dem-11741	174	26	resistance	resistance	NOUN
dem-11741	174	27	to	to	ADP
dem-11741	174	28	shocks	shock	NOUN
dem-11741	174	29	coming	come	VERB
dem-11741	174	30	from	from	ADP
dem-11741	174	31	the	the	DET
dem-11741	174	32	market	market	NOUN
dem-11741	174	33	.	.	PUNCT
dem-11741	175	1	thus	thus	ADV
dem-11741	175	2	,	,	PUNCT
dem-11741	175	3	in	in	ADP
dem-11741	175	4	our	our	PRON
dem-11741	175	5	opinion	opinion	NOUN
dem-11741	175	6	commonality	commonality	NOUN
dem-11741	175	7	in	in	ADP
dem-11741	175	8	volatility	volatility	NOUN
dem-11741	175	9	did	do	AUX
dem-11741	175	10	not	not	PART
dem-11741	175	11	increase	increase	VERB
dem-11741	175	12	significantly	significantly	ADV
dem-11741	175	13	in	in	ADP
dem-11741	175	14	the	the	DET
dem-11741	175	15	turbulent	turbulent	ADJ
dem-11741	175	16	period	period	NOUN
dem-11741	175	17	compared	compare	VERB
dem-11741	175	18	to	to	ADP
dem-11741	175	19	the	the	DET
dem-11741	175	20	stable	stable	ADJ
dem-11741	175	21	period	period	NOUN
dem-11741	175	22	in	in	ADP
dem-11741	175	23	the	the	DET
dem-11741	175	24	it	it	NOUN
dem-11741	175	25	sector	sector	NOUN
dem-11741	175	26	on	on	ADP
dem-11741	175	27	the	the	DET
dem-11741	175	28	polish	polish	ADJ
dem-11741	175	29	capital	capital	NOUN
dem-11741	175	30	market	market	NOUN
dem-11741	175	31	.	.	PUNCT
dem-11741	176	1	table	table	NOUN
dem-11741	176	2	1	1	NUM
dem-11741	176	3	.	.	PUNCT
dem-11741	176	4	descriptive	descriptive	ADJ
dem-11741	176	5	statistics	statistic	NOUN
dem-11741	176	6	for	for	ADP
dem-11741	176	7	volatility	volatility	NOUN
dem-11741	176	8	measures	measure	NOUN
dem-11741	176	9	–	–	PUNCT
dem-11741	176	10	stable	stable	ADJ
dem-11741	176	11	period	period	NOUN
dem-11741	176	12	variable	variable	ADJ
dem-11741	176	13	minimum	minimum	ADJ
dem-11741	176	14	mean	mean	NOUN
dem-11741	176	15	maximum	maximum	ADJ
dem-11741	176	16	standard	standard	ADJ
dem-11741	176	17	deviation	deviation	NOUN
dem-11741	176	18	skewness	skewness	NOUN
dem-11741	176	19	kurtosis	kurtosis	VERB
dem-11741	176	20	v1_wig	v1_wig	NOUN
dem-11741	176	21	0.0004	0.0004	NUM
dem-11741	176	22	0.008	0.008	NUM
dem-11741	176	23	0.157	0.157	NUM
dem-11741	176	24	0.012	0.012	NUM
dem-11741	176	25	5.577	5.577	NUM
dem-11741	176	26	[	[	X
dem-11741	176	27	0.000	0.000	NUM
dem-11741	176	28	]	]	PUNCT
dem-11741	176	29	47.622	47.622	NUM
dem-11741	176	30	[	[	X
dem-11741	176	31	0.000	0.000	NUM
dem-11741	176	32	]	]	X
dem-11741	176	33	v2_wig	v2_wig	PROPN
dem-11741	176	34	0.0003	0.0003	NUM
dem-11741	177	1	0.008	0.008	NUM
dem-11741	177	2	0.195	0.195	NUM
dem-11741	177	3	0.011	0.011	NUM
dem-11741	177	4	7.348	7.348	NUM
dem-11741	178	1	[	[	X
dem-11741	178	2	0.000	0.000	NUM
dem-11741	178	3	]	]	PUNCT
dem-11741	178	4	85.857	85.857	NUM
dem-11741	178	5	[	[	X
dem-11741	178	6	0.000	0.000	X
dem-11741	178	7	]	]	X
dem-11741	178	8	v3_wig	v3_wig	PROPN
dem-11741	178	9	0	0	NUM
dem-11741	178	10	0.008	0.008	NUM
dem-11741	178	11	0.269	0.269	NUM
dem-11741	178	12	0.013	0.013	NUM
dem-11741	178	13	9.764	9.764	NUM
dem-11741	179	1	[	[	X
dem-11741	179	2	0.000	0.000	NUM
dem-11741	179	3	]	]	X
dem-11741	180	1	147.92	147.92	NUM
dem-11741	180	2	[	[	X
dem-11741	180	3	0.000	0.000	NUM
dem-11741	180	4	]	]	X
dem-11741	180	5	v1_construction	v1_construction	NOUN
dem-11741	180	6	0.013	0.013	NUM
dem-11741	180	7	0.136	0.136	NUM
dem-11741	180	8	1.303	1.303	NUM
dem-11741	180	9	0.130	0.130	NUM
dem-11741	180	10	3.042	3.042	NUM
dem-11741	180	11	[	[	X
dem-11741	180	12	0.000	0.000	NUM
dem-11741	180	13	]	]	PUNCT
dem-11741	180	14	14.837	14.837	NUM
dem-11741	180	15	[	[	X
dem-11741	180	16	0.000	0.000	NUM
dem-11741	180	17	]	]	X
dem-11741	180	18	v2_construction	v2_construction	NOUN
dem-11741	180	19	0.011	0.011	NUM
dem-11741	180	20	0.131	0.131	NUM
dem-11741	180	21	1.786	1.786	NUM
dem-11741	180	22	0.146	0.146	NUM
dem-11741	180	23	4.248	4.248	NUM
dem-11741	181	1	[	[	X
dem-11741	181	2	0.000	0.000	NUM
dem-11741	181	3	]	]	PUNCT
dem-11741	181	4	28.550	28.550	NUM
dem-11741	182	1	[	[	X
dem-11741	182	2	0.000	0.000	NUM
dem-11741	182	3	]	]	X
dem-11741	182	4	v3_construction	v3_construction	NOUN
dem-11741	182	5	0.006	0.006	NUM
dem-11741	182	6	0.158	0.158	NUM
dem-11741	182	7	3.506	3.506	NUM
dem-11741	182	8	0.241	0.241	NUM
dem-11741	182	9	5.418	5.418	NUM
dem-11741	183	1	[	[	X
dem-11741	183	2	0.000	0.000	NUM
dem-11741	183	3	]	]	PUNCT
dem-11741	183	4	47.534	47.534	NUM
dem-11741	184	1	[	[	X
dem-11741	184	2	0.000	0.000	NUM
dem-11741	184	3	]	]	X
dem-11741	184	4	v1_it	v1_it	NOUN
dem-11741	184	5	0.009	0.009	NUM
dem-11741	184	6	0.116	0.116	NUM
dem-11741	184	7	1.046	1.046	NUM
dem-11741	184	8	0.119	0.119	NUM
dem-11741	184	9	2.759	2.759	NUM
dem-11741	185	1	[	[	X
dem-11741	185	2	0.000	0.000	NUM
dem-11741	185	3	]	]	PUNCT
dem-11741	185	4	10.424	10.424	NUM
dem-11741	186	1	[	[	NOUN
dem-11741	186	2	0.000	0.000	NUM
dem-11741	186	3	]	]	SYM
dem-11741	186	4	v2_it	v2_it	NUM
dem-11741	186	5	0.010	0.010	NUM
dem-11741	186	6	0.084	0.084	NUM
dem-11741	186	7	1.397	1.397	NUM
dem-11741	186	8	0.081	0.081	NUM
dem-11741	186	9	6.675	6.675	NUM
dem-11741	187	1	[	[	X
dem-11741	187	2	0.000	0.000	NUM
dem-11741	187	3	]	]	X
dem-11741	188	1	78.417	78.417	NUM
dem-11741	188	2	[	[	X
dem-11741	188	3	0.000	0.000	NUM
dem-11741	188	4	]	]	PUNCT
dem-11741	188	5	v3_it	v3_it	NOUN
dem-11741	188	6	0.011	0.011	NUM
dem-11741	188	7	0.092	0.092	NUM
dem-11741	188	8	2.179	2.179	NUM
dem-11741	188	9	0.103	0.103	NUM
dem-11741	188	10	10.018	10.018	NUM
dem-11741	189	1	[	[	X
dem-11741	189	2	0.000	0.000	NUM
dem-11741	189	3	]	]	X
dem-11741	189	4	165.52	165.52	NUM
dem-11741	189	5	[	[	X
dem-11741	189	6	0.000	0.000	NUM
dem-11741	189	7	]	]	PUNCT
dem-11741	189	8	note	note	NOUN
dem-11741	189	9	:	:	PUNCT
dem-11741	189	10	all	all	DET
dem-11741	189	11	volatility	volatility	NOUN
dem-11741	189	12	series	series	NOUN
dem-11741	189	13	were	be	AUX
dem-11741	189	14	scaled	scale	VERB
dem-11741	189	15	by	by	ADP
dem-11741	189	16	100	100	NUM
dem-11741	189	17	,	,	PUNCT
dem-11741	189	18	p	p	NOUN
dem-11741	189	19	-	-	PUNCT
dem-11741	189	20	value	value	NOUN
dem-11741	189	21	in	in	ADP
dem-11741	189	22	brackets	bracket	NOUN
dem-11741	189	23	.	.	PUNCT
dem-11741	190	1	on	on	ADP
dem-11741	190	2	the	the	DET
dem-11741	190	3	basis	basis	NOUN
dem-11741	190	4	of	of	ADP
dem-11741	190	5	daily	daily	ADJ
dem-11741	190	6	information	information	NOUN
dem-11741	190	7	on	on	ADP
dem-11741	190	8	four	four	NUM
dem-11741	190	9	price	price	NOUN
dem-11741	190	10	categories	category	NOUN
dem-11741	190	11	(	(	PUNCT
dem-11741	190	12	open	open	ADJ
dem-11741	190	13	,	,	PUNCT
dem-11741	190	14	close	close	ADJ
dem-11741	190	15	,	,	PUNCT
dem-11741	190	16	high	high	ADJ
dem-11741	190	17	and	and	CCONJ
dem-11741	190	18	low	low	ADJ
dem-11741	190	19	)	)	PUNCT
dem-11741	190	20	of	of	ADP
dem-11741	190	21	the	the	DET
dem-11741	190	22	wig	wig	NOUN
dem-11741	190	23	stock	stock	NOUN
dem-11741	190	24	index	index	NOUN
dem-11741	190	25	and	and	CCONJ
dem-11741	190	26	shares	share	NOUN
dem-11741	190	27	of	of	ADP
dem-11741	190	28	particular	particular	ADJ
dem-11741	190	29	companies	company	NOUN
dem-11741	190	30	the	the	DET
dem-11741	190	31	authors	author	NOUN
dem-11741	190	32	determined	determine	VERB
dem-11741	190	33	volatility	volatility	NOUN
dem-11741	190	34	series	series	NOUN
dem-11741	190	35	in	in	ADP
dem-11741	190	36	the	the	DET
dem-11741	190	37	stable	stable	ADJ
dem-11741	190	38	and	and	CCONJ
dem-11741	190	39	turbulent	turbulent	ADJ
dem-11741	190	40	period	period	NOUN
dem-11741	190	41	according	accord	VERB
dem-11741	190	42	to	to	ADP
dem-11741	190	43	the	the	DET
dem-11741	190	44	price	price	NOUN
dem-11741	190	45	range	range	NOUN
dem-11741	190	46	volatility	volatility	NOUN
dem-11741	190	47	measures	measure	NOUN
dem-11741	190	48	(	(	PUNCT
dem-11741	190	49	2)–(4	2)–(4	NUM
dem-11741	190	50	)	)	PUNCT
dem-11741	190	51	.	.	PUNCT
dem-11741	191	1	for	for	ADP
dem-11741	191	2	each	each	DET
dem-11741	191	3	sector	sector	NOUN
dem-11741	191	4	the	the	DET
dem-11741	191	5	authors	author	NOUN
dem-11741	191	6	estimated	estimate	VERB
dem-11741	191	7	series	series	NOUN
dem-11741	191	8	of	of	ADP
dem-11741	191	9	average	average	ADJ
dem-11741	191	10	firm	firm	ADJ
dem-11741	191	11	volatility	volatility	NOUN
dem-11741	191	12	in	in	ADP
dem-11741	191	13	each	each	PRON
dem-11741	191	14	of	of	ADP
dem-11741	191	15	the	the	DET
dem-11741	191	16	analyzed	analyze	VERB
dem-11741	191	17	subanalysis	subanalysis	NOUN
dem-11741	191	18	of	of	ADP
dem-11741	191	19	the	the	DET
dem-11741	191	20	relationship	relationship	NOUN
dem-11741	191	21	between	between	ADP
dem-11741	191	22	market	market	NOUN
dem-11741	191	23	volatility	volatility	NOUN
dem-11741	191	24	and	and	CCONJ
dem-11741	191	25	firms	firm	NOUN
dem-11741	191	26	volatility	volatility	NOUN
dem-11741	191	27	…	…	SYM
dem-11741	191	28	dynamic	dynamic	ADJ
dem-11741	191	29	econometric	econometric	ADJ
dem-11741	191	30	models	model	NOUN
dem-11741	191	31	16	16	NUM
dem-11741	191	32	(	(	PUNCT
dem-11741	191	33	2016	2016	NUM
dem-11741	191	34	)	)	PUNCT
dem-11741	192	1	87–116	87–116	PROPN
dem-11741	192	2	99	99	NUM
dem-11741	192	3	periods	period	NOUN
dem-11741	192	4	and	and	CCONJ
dem-11741	192	5	then	then	ADV
dem-11741	192	6	on	on	ADP
dem-11741	192	7	their	their	PRON
dem-11741	192	8	basis	basis	NOUN
dem-11741	192	9	they	they	PRON
dem-11741	192	10	determined	determine	VERB
dem-11741	192	11	descriptive	descriptive	ADJ
dem-11741	192	12	statistics	statistic	NOUN
dem-11741	192	13	(	(	PUNCT
dem-11741	192	14	tables	table	NOUN
dem-11741	192	15	1–2	1–2	NUM
dem-11741	192	16	)	)	PUNCT
dem-11741	192	17	.	.	PUNCT
dem-11741	193	1	table	table	NOUN
dem-11741	193	2	2	2	NUM
dem-11741	193	3	.	.	PUNCT
dem-11741	193	4	descriptive	descriptive	ADJ
dem-11741	193	5	statistics	statistic	NOUN
dem-11741	193	6	for	for	ADP
dem-11741	193	7	volatility	volatility	NOUN
dem-11741	193	8	measures	measure	NOUN
dem-11741	193	9	–	–	PUNCT
dem-11741	193	10	turbulent	turbulent	ADJ
dem-11741	193	11	period	period	NOUN
dem-11741	193	12	variable	variable	ADJ
dem-11741	193	13	minimum	minimum	ADJ
dem-11741	193	14	mean	mean	NOUN
dem-11741	193	15	maximum	maximum	ADJ
dem-11741	193	16	standard	standard	ADJ
dem-11741	193	17	deviation	deviation	NOUN
dem-11741	193	18	skewness	skewness	NOUN
dem-11741	193	19	kurtosis	kurtosis	VERB
dem-11741	193	20	v1_wig	v1_wig	PROPN
dem-11741	193	21	0.0002	0.0002	NUM
dem-11741	193	22	0.015	0.015	NUM
dem-11741	193	23	0.373	0.373	NUM
dem-11741	193	24	0.028	0.028	NUM
dem-11741	193	25	6.125	6.125	NUM
dem-11741	193	26	[	[	X
dem-11741	193	27	0.000	0.000	NUM
dem-11741	193	28	]	]	PUNCT
dem-11741	193	29	53.180	53.180	NUM
dem-11741	193	30	[	[	X
dem-11741	193	31	0.000	0.000	NUM
dem-11741	193	32	]	]	X
dem-11741	193	33	v2_wig	v2_wig	PROPN
dem-11741	193	34	0.0002	0.0002	NUM
dem-11741	193	35	0.013	0.013	NUM
dem-11741	193	36	0.305	0.305	NUM
dem-11741	193	37	0.027	0.027	NUM
dem-11741	193	38	6.340	6.340	NUM
dem-11741	193	39	[	[	X
dem-11741	193	40	0.000	0.000	NUM
dem-11741	193	41	]	]	X
dem-11741	193	42	50.279	50.279	NUM
dem-11741	193	43	[	[	X
dem-11741	193	44	0.000	0.000	NUM
dem-11741	193	45	]	]	X
dem-11741	193	46	v3_wig	v3_wig	PROPN
dem-11741	193	47	0	0	NUM
dem-11741	193	48	0.013	0.013	NUM
dem-11741	193	49	0.357	0.357	NUM
dem-11741	193	50	0.029	0.029	NUM
dem-11741	193	51	6.651	6.651	NUM
dem-11741	194	1	[	[	X
dem-11741	194	2	0.000	0.000	NUM
dem-11741	194	3	]	]	X
dem-11741	194	4	55.075	55.075	NUM
dem-11741	194	5	[	[	X
dem-11741	194	6	0.000	0.000	NUM
dem-11741	194	7	]	]	X
dem-11741	194	8	v1_construction	v1_construction	NOUN
dem-11741	194	9	0.012	0.012	NUM
dem-11741	194	10	0.205	0.205	NUM
dem-11741	194	11	2.481	2.481	NUM
dem-11741	194	12	0.351	0.351	NUM
dem-11741	194	13	2.176	2.176	NUM
dem-11741	195	1	[	[	X
dem-11741	195	2	0.000	0.000	NUM
dem-11741	195	3	]	]	X
dem-11741	195	4	3.837	3.837	NUM
dem-11741	195	5	[	[	X
dem-11741	195	6	0.000	0.000	NUM
dem-11741	195	7	]	]	X
dem-11741	195	8	v2_construction	v2_construction	NOUN
dem-11741	195	9	0.010	0.010	NUM
dem-11741	195	10	0.120	0.120	NUM
dem-11741	195	11	3.394	3.394	NUM
dem-11741	195	12	0.195	0.195	NUM
dem-11741	195	13	7.707	7.707	NUM
dem-11741	196	1	[	[	X
dem-11741	196	2	0.000	0.000	NUM
dem-11741	196	3	]	]	PUNCT
dem-11741	197	1	103.24	103.24	NUM
dem-11741	197	2	[	[	X
dem-11741	197	3	0.000	0.000	NUM
dem-11741	197	4	]	]	X
dem-11741	197	5	v3_construction	v3_construction	NOUN
dem-11741	197	6	0.010	0.010	NUM
dem-11741	197	7	0.100	0.100	NUM
dem-11741	197	8	3.623	3.623	NUM
dem-11741	197	9	0.253	0.253	NUM
dem-11741	197	10	10.149	10.149	NUM
dem-11741	198	1	[	[	X
dem-11741	198	2	0.000	0.000	NUM
dem-11741	198	3	]	]	PUNCT
dem-11741	198	4	112.55	112.55	NUM
dem-11741	199	1	[	[	X
dem-11741	199	2	0.000	0.000	NUM
dem-11741	199	3	]	]	X
dem-11741	199	4	v1_it	v1_it	NOUN
dem-11741	199	5	0.061	0.061	NUM
dem-11741	199	6	0.289	0.289	NUM
dem-11741	199	7	1.224	1.224	NUM
dem-11741	199	8	0.170	0.170	NUM
dem-11741	199	9	1.861	1.861	NUM
dem-11741	200	1	[	[	X
dem-11741	200	2	0.000	0.000	NUM
dem-11741	200	3	]	]	PUNCT
dem-11741	200	4	4.802	4.802	NUM
dem-11741	201	1	[	[	NOUN
dem-11741	201	2	0.000	0.000	NUM
dem-11741	201	3	]	]	SYM
dem-11741	201	4	v2_it	v2_it	NOUN
dem-11741	201	5	0.011	0.011	NUM
dem-11741	201	6	0.092	0.092	NUM
dem-11741	201	7	0.571	0.571	NUM
dem-11741	201	8	0.075	0.075	NUM
dem-11741	201	9	2.919	2.919	NUM
dem-11741	202	1	[	[	X
dem-11741	202	2	0.000	0.000	NUM
dem-11741	202	3	]	]	PUNCT
dem-11741	203	1	11.721	11.721	NUM
dem-11741	204	1	[	[	X
dem-11741	204	2	0.000	0.000	NUM
dem-11741	204	3	]	]	X
dem-11741	204	4	v3_it	v3_it	NOUN
dem-11741	204	5	0.010	0.010	NUM
dem-11741	204	6	0.104	0.104	NUM
dem-11741	204	7	0.697	0.697	NUM
dem-11741	204	8	0.084	0.084	NUM
dem-11741	204	9	2.626	2.626	NUM
dem-11741	205	1	[	[	X
dem-11741	205	2	0.000	0.000	NUM
dem-11741	205	3	]	]	PUNCT
dem-11741	205	4	9.510	9.510	NUM
dem-11741	205	5	[	[	X
dem-11741	205	6	0.000	0.000	NUM
dem-11741	205	7	]	]	PUNCT
dem-11741	205	8	note	note	NOUN
dem-11741	205	9	:	:	PUNCT
dem-11741	205	10	all	all	DET
dem-11741	205	11	volatility	volatility	NOUN
dem-11741	205	12	series	series	NOUN
dem-11741	205	13	were	be	AUX
dem-11741	205	14	scaled	scale	VERB
dem-11741	205	15	by	by	ADP
dem-11741	205	16	100	100	NUM
dem-11741	205	17	,	,	PUNCT
dem-11741	205	18	p	p	NOUN
dem-11741	205	19	-	-	PUNCT
dem-11741	205	20	value	value	NOUN
dem-11741	205	21	in	in	ADP
dem-11741	205	22	brackets	bracket	NOUN
dem-11741	205	23	.	.	PUNCT
dem-11741	206	1	one	one	PRON
dem-11741	206	2	can	can	AUX
dem-11741	206	3	observe	observe	VERB
dem-11741	206	4	that	that	SCONJ
dem-11741	206	5	the	the	DET
dem-11741	206	6	average	average	ADJ
dem-11741	206	7	volatility	volatility	NOUN
dem-11741	206	8	in	in	ADP
dem-11741	206	9	the	the	DET
dem-11741	206	10	it	it	PRON
dem-11741	206	11	sector	sector	NOUN
dem-11741	206	12	was	be	AUX
dem-11741	206	13	relatively	relatively	ADV
dem-11741	206	14	lower	low	ADJ
dem-11741	206	15	than	than	ADP
dem-11741	206	16	in	in	ADP
dem-11741	206	17	the	the	DET
dem-11741	206	18	construction	construction	NOUN
dem-11741	206	19	sector	sector	NOUN
dem-11741	206	20	for	for	ADP
dem-11741	206	21	all	all	DET
dem-11741	206	22	three	three	NUM
dem-11741	206	23	measures	measure	NOUN
dem-11741	206	24	.	.	PUNCT
dem-11741	207	1	a	a	DET
dem-11741	207	2	similar	similar	ADJ
dem-11741	207	3	dependence	dependence	NOUN
dem-11741	207	4	can	can	AUX
dem-11741	207	5	be	be	AUX
dem-11741	207	6	observed	observe	VERB
dem-11741	207	7	for	for	ADP
dem-11741	207	8	the	the	DET
dem-11741	207	9	maximum	maximum	ADJ
dem-11741	207	10	value	value	NOUN
dem-11741	207	11	of	of	ADP
dem-11741	207	12	each	each	DET
dem-11741	207	13	volatility	volatility	NOUN
dem-11741	207	14	measures	measure	NOUN
dem-11741	207	15	evaluated	evaluate	VERB
dem-11741	207	16	for	for	ADP
dem-11741	207	17	the	the	DET
dem-11741	207	18	firms	firm	NOUN
dem-11741	207	19	in	in	ADP
dem-11741	207	20	both	both	DET
dem-11741	207	21	sectors	sector	NOUN
dem-11741	207	22	.	.	PUNCT
dem-11741	208	1	it	it	PRON
dem-11741	208	2	is	be	AUX
dem-11741	208	3	worth	worth	ADJ
dem-11741	208	4	emphasizing	emphasize	VERB
dem-11741	208	5	that	that	SCONJ
dem-11741	208	6	in	in	ADP
dem-11741	208	7	the	the	DET
dem-11741	208	8	stable	stable	ADJ
dem-11741	208	9	period	period	NOUN
dem-11741	208	10	market	market	NOUN
dem-11741	208	11	volatility	volatility	NOUN
dem-11741	208	12	was	be	AUX
dem-11741	208	13	substantially	substantially	ADV
dem-11741	208	14	lower	low	ADJ
dem-11741	208	15	than	than	ADP
dem-11741	208	16	volatility	volatility	NOUN
dem-11741	208	17	of	of	ADP
dem-11741	208	18	firms	firm	NOUN
dem-11741	208	19	in	in	ADP
dem-11741	208	20	both	both	DET
dem-11741	208	21	sectors	sector	NOUN
dem-11741	208	22	,	,	PUNCT
dem-11741	208	23	comparing	compare	VERB
dem-11741	208	24	volatility	volatility	NOUN
dem-11741	208	25	range	range	NOUN
dem-11741	208	26	determined	determine	VERB
dem-11741	208	27	in	in	ADP
dem-11741	208	28	accordance	accordance	NOUN
dem-11741	208	29	with	with	ADP
dem-11741	208	30	the	the	DET
dem-11741	208	31	three	three	NUM
dem-11741	208	32	analyzed	analyze	VERB
dem-11741	208	33	measures	measure	NOUN
dem-11741	208	34	.	.	PUNCT
dem-11741	209	1	also	also	ADV
dem-11741	209	2	determined	determine	VERB
dem-11741	209	3	skewness	skewness	NOUN
dem-11741	209	4	and	and	CCONJ
dem-11741	209	5	kurtosis	kurtosis	VERB
dem-11741	209	6	indicate	indicate	VERB
dem-11741	209	7	sector	sector	NOUN
dem-11741	209	8	differentiation	differentiation	NOUN
dem-11741	209	9	of	of	ADP
dem-11741	209	10	the	the	DET
dem-11741	209	11	volatility	volatility	NOUN
dem-11741	209	12	process	process	NOUN
dem-11741	209	13	,	,	PUNCT
dem-11741	209	14	which	which	PRON
dem-11741	209	15	may	may	AUX
dem-11741	209	16	indicate	indicate	VERB
dem-11741	209	17	heterogeneity	heterogeneity	NOUN
dem-11741	209	18	of	of	ADP
dem-11741	209	19	the	the	DET
dem-11741	209	20	construction	construction	NOUN
dem-11741	209	21	and	and	CCONJ
dem-11741	209	22	it	it	PRON
dem-11741	209	23	sectors	sector	VERB
dem-11741	209	24	on	on	ADP
dem-11741	209	25	the	the	DET
dem-11741	209	26	warsaw	warsaw	PROPN
dem-11741	209	27	stock	stock	PROPN
dem-11741	209	28	exchange	exchange	PROPN
dem-11741	209	29	.	.	PUNCT
dem-11741	210	1	similar	similar	ADJ
dem-11741	210	2	conclusions	conclusion	NOUN
dem-11741	210	3	were	be	AUX
dem-11741	210	4	formulated	formulate	VERB
dem-11741	210	5	for	for	ADP
dem-11741	210	6	the	the	DET
dem-11741	210	7	american	american	PROPN
dem-11741	210	8	stock	stock	PROPN
dem-11741	210	9	exchange	exchange	PROPN
dem-11741	210	10	in	in	ADP
dem-11741	210	11	the	the	DET
dem-11741	210	12	paper	paper	NOUN
dem-11741	210	13	of	of	ADP
dem-11741	210	14	sharma	sharma	PROPN
dem-11741	210	15	,	,	PUNCT
dem-11741	210	16	narayan	narayan	NOUN
dem-11741	210	17	and	and	CCONJ
dem-11741	210	18	zheng	zheng	PROPN
dem-11741	210	19	(	(	PUNCT
dem-11741	210	20	2014	2014	NUM
dem-11741	210	21	)	)	PUNCT
dem-11741	210	22	.	.	PUNCT
dem-11741	211	1	the	the	DET
dem-11741	211	2	determined	determined	ADJ
dem-11741	211	3	average	average	ADJ
dem-11741	211	4	statistics	statistic	NOUN
dem-11741	211	5	for	for	ADP
dem-11741	211	6	the	the	DET
dem-11741	211	7	series	series	NOUN
dem-11741	211	8	of	of	ADP
dem-11741	211	9	firm	firm	ADJ
dem-11741	211	10	and	and	CCONJ
dem-11741	211	11	market	market	NOUN
dem-11741	211	12	volatility	volatility	NOUN
dem-11741	211	13	took	take	VERB
dem-11741	211	14	higher	high	ADJ
dem-11741	211	15	values	value	NOUN
dem-11741	211	16	in	in	ADP
dem-11741	211	17	the	the	DET
dem-11741	211	18	turbulent	turbulent	ADJ
dem-11741	211	19	period	period	NOUN
dem-11741	211	20	in	in	ADP
dem-11741	211	21	comparison	comparison	NOUN
dem-11741	211	22	with	with	ADP
dem-11741	211	23	the	the	DET
dem-11741	211	24	stable	stable	ADJ
dem-11741	211	25	period	period	NOUN
dem-11741	211	26	.	.	PUNCT
dem-11741	212	1	also	also	ADV
dem-11741	212	2	in	in	ADP
dem-11741	212	3	this	this	DET
dem-11741	212	4	period	period	NOUN
dem-11741	212	5	market	market	NOUN
dem-11741	212	6	volatility	volatility	NOUN
dem-11741	212	7	was	be	AUX
dem-11741	212	8	substantially	substantially	ADV
dem-11741	212	9	lower	low	ADJ
dem-11741	212	10	than	than	ADP
dem-11741	212	11	the	the	DET
dem-11741	212	12	firm	firm	ADJ
dem-11741	212	13	volatility	volatility	NOUN
dem-11741	212	14	in	in	ADP
dem-11741	212	15	both	both	DET
dem-11741	212	16	sectors	sector	NOUN
dem-11741	212	17	.	.	PUNCT
dem-11741	213	1	due	due	ADP
dem-11741	213	2	to	to	ADP
dem-11741	213	3	high	high	ADJ
dem-11741	213	4	kurtosis	kurtosis	NOUN
dem-11741	213	5	and	and	CCONJ
dem-11741	213	6	skewness	skewness	NOUN
dem-11741	213	7	of	of	ADP
dem-11741	213	8	the	the	DET
dem-11741	213	9	volatility	volatility	NOUN
dem-11741	213	10	series	series	NOUN
dem-11741	213	11	determined	determine	VERB
dem-11741	213	12	in	in	ADP
dem-11741	213	13	accordance	accordance	NOUN
dem-11741	213	14	with	with	ADP
dem-11741	213	15	the	the	DET
dem-11741	213	16	rogers	rogers	PROPN
dem-11741	213	17	and	and	CCONJ
dem-11741	213	18	satchel	satchel	PROPN
dem-11741	213	19	formula	formula	NOUN
dem-11741	213	20	only	only	ADV
dem-11741	213	21	volatility	volatility	NOUN
dem-11741	213	22	calculated	calculate	VERB
dem-11741	213	23	according	accord	VERB
dem-11741	213	24	to	to	ADP
dem-11741	213	25	the	the	DET
dem-11741	213	26	parkinson	parkinson	NOUN
dem-11741	213	27	method	method	NOUN
dem-11741	213	28	has	have	AUX
dem-11741	213	29	been	be	AUX
dem-11741	213	30	included	include	VERB
dem-11741	213	31	in	in	ADP
dem-11741	213	32	the	the	DET
dem-11741	213	33	further	further	ADJ
dem-11741	213	34	part	part	NOUN
dem-11741	213	35	of	of	ADP
dem-11741	213	36	the	the	DET
dem-11741	213	37	analysis	analysis	NOUN
dem-11741	213	38	.	.	PUNCT
dem-11741	214	1	shaping	shaping	NOUN
dem-11741	214	2	of	of	ADP
dem-11741	214	3	daily	daily	ADJ
dem-11741	214	4	volatility	volatility	NOUN
dem-11741	214	5	for	for	ADP
dem-11741	214	6	the	the	DET
dem-11741	214	7	włodarczyk	włodarczyk	NOUN
dem-11741	214	8	,	,	PUNCT
dem-11741	214	9	otola	otola	PROPN
dem-11741	214	10	dynamic	dynamic	ADJ
dem-11741	214	11	econometric	econometric	ADJ
dem-11741	214	12	models	model	NOUN
dem-11741	214	13	16	16	NUM
dem-11741	214	14	(	(	PUNCT
dem-11741	214	15	2016	2016	NUM
dem-11741	214	16	)	)	PUNCT
dem-11741	215	1	87–116	87–116	PROPN
dem-11741	215	2	100	100	NUM
dem-11741	215	3	figure	figure	NOUN
dem-11741	215	4	1	1	NUM
dem-11741	215	5	.	.	PUNCT
dem-11741	216	1	shaping	shaping	NOUN
dem-11741	216	2	of	of	ADP
dem-11741	216	3	daily	daily	ADJ
dem-11741	216	4	volatility	volatility	NOUN
dem-11741	216	5	for	for	ADP
dem-11741	216	6	the	the	DET
dem-11741	216	7	companies	company	NOUN
dem-11741	216	8	from	from	ADP
dem-11741	216	9	the	the	DET
dem-11741	216	10	construction	construction	NOUN
dem-11741	216	11	sector	sector	NOUN
dem-11741	216	12	in	in	ADP
dem-11741	216	13	the	the	DET
dem-11741	216	14	stable	stable	ADJ
dem-11741	216	15	period	period	NOUN
dem-11741	216	16	1	1	NUM
dem-11741	216	17	figure	figure	NOUN
dem-11741	216	18	2	2	NUM
dem-11741	216	19	.	.	PUNCT
dem-11741	216	20	shaping	shaping	NOUN
dem-11741	216	21	of	of	ADP
dem-11741	216	22	daily	daily	ADJ
dem-11741	216	23	volatility	volatility	NOUN
dem-11741	216	24	for	for	ADP
dem-11741	216	25	the	the	DET
dem-11741	216	26	companies	company	NOUN
dem-11741	216	27	from	from	ADP
dem-11741	216	28	the	the	DET
dem-11741	216	29	construction	construction	NOUN
dem-11741	216	30	sector	sector	NOUN
dem-11741	216	31	in	in	ADP
dem-11741	216	32	the	the	DET
dem-11741	216	33	turbulent	turbulent	ADJ
dem-11741	216	34	period	period	NOUN
dem-11741	216	35	2	2	NUM
dem-11741	216	36	1	1	NUM
dem-11741	216	37	explanations	explanation	NOUN
dem-11741	216	38	of	of	ADP
dem-11741	216	39	used	use	VERB
dem-11741	216	40	abbreviations	abbreviation	NOUN
dem-11741	216	41	for	for	ADP
dem-11741	216	42	listed	list	VERB
dem-11741	216	43	companies	company	NOUN
dem-11741	216	44	can	can	AUX
dem-11741	216	45	be	be	AUX
dem-11741	216	46	found	find	VERB
dem-11741	216	47	in	in	ADP
dem-11741	216	48	table	table	NOUN
dem-11741	216	49	5	5	NUM
dem-11741	216	50	.	.	SYM
dem-11741	216	51	2	2	NUM
dem-11741	216	52	explanations	explanation	NOUN
dem-11741	216	53	of	of	ADP
dem-11741	216	54	used	use	VERB
dem-11741	216	55	abbreviations	abbreviation	NOUN
dem-11741	216	56	for	for	ADP
dem-11741	216	57	listed	list	VERB
dem-11741	216	58	companies	company	NOUN
dem-11741	216	59	can	can	AUX
dem-11741	216	60	be	be	AUX
dem-11741	216	61	found	find	VERB
dem-11741	216	62	in	in	ADP
dem-11741	216	63	table	table	NOUN
dem-11741	216	64	6	6	NUM
dem-11741	216	65	.	.	PUNCT
dem-11741	217	1	analysis	analysis	NOUN
dem-11741	217	2	of	of	ADP
dem-11741	217	3	the	the	DET
dem-11741	217	4	relationship	relationship	NOUN
dem-11741	217	5	between	between	ADP
dem-11741	217	6	market	market	NOUN
dem-11741	217	7	volatility	volatility	NOUN
dem-11741	217	8	and	and	CCONJ
dem-11741	217	9	firms	firm	NOUN
dem-11741	217	10	volatility	volatility	NOUN
dem-11741	217	11	…	…	SYM
dem-11741	217	12	dynamic	dynamic	ADJ
dem-11741	217	13	econometric	econometric	ADJ
dem-11741	217	14	models	model	NOUN
dem-11741	217	15	16	16	NUM
dem-11741	217	16	(	(	PUNCT
dem-11741	217	17	2016	2016	NUM
dem-11741	217	18	)	)	PUNCT
dem-11741	217	19	87–116	87–116	PROPN
dem-11741	217	20	101	101	NUM
dem-11741	217	21	figure	figure	NOUN
dem-11741	217	22	3	3	NUM
dem-11741	217	23	.	.	PUNCT
dem-11741	217	24	shaping	shaping	NOUN
dem-11741	217	25	of	of	ADP
dem-11741	217	26	daily	daily	ADJ
dem-11741	217	27	volatility	volatility	NOUN
dem-11741	217	28	for	for	ADP
dem-11741	217	29	the	the	DET
dem-11741	217	30	companies	company	NOUN
dem-11741	217	31	from	from	ADP
dem-11741	217	32	the	the	DET
dem-11741	217	33	it	it	PRON
dem-11741	217	34	sector	sector	NOUN
dem-11741	217	35	in	in	ADP
dem-11741	217	36	the	the	DET
dem-11741	217	37	stable	stable	ADJ
dem-11741	217	38	period	period	NOUN
dem-11741	217	39	3	3	NUM
dem-11741	217	40	figure	figure	NOUN
dem-11741	217	41	4	4	NUM
dem-11741	217	42	.	.	PUNCT
dem-11741	217	43	shaping	shaping	NOUN
dem-11741	217	44	of	of	ADP
dem-11741	217	45	daily	daily	ADJ
dem-11741	217	46	volatility	volatility	NOUN
dem-11741	217	47	for	for	ADP
dem-11741	217	48	the	the	DET
dem-11741	217	49	companies	company	NOUN
dem-11741	217	50	from	from	ADP
dem-11741	217	51	the	the	DET
dem-11741	217	52	it	it	PRON
dem-11741	217	53	sector	sector	NOUN
dem-11741	217	54	in	in	ADP
dem-11741	217	55	the	the	DET
dem-11741	217	56	turbulent	turbulent	ADJ
dem-11741	217	57	period	period	NOUN
dem-11741	217	58	4	4	NUM
dem-11741	217	59	3	3	NUM
dem-11741	217	60	explanations	explanation	NOUN
dem-11741	217	61	of	of	ADP
dem-11741	217	62	used	use	VERB
dem-11741	217	63	abbreviations	abbreviation	NOUN
dem-11741	217	64	for	for	ADP
dem-11741	217	65	listed	list	VERB
dem-11741	217	66	companies	company	NOUN
dem-11741	217	67	can	can	AUX
dem-11741	217	68	be	be	AUX
dem-11741	217	69	found	find	VERB
dem-11741	217	70	in	in	ADP
dem-11741	217	71	table	table	NOUN
dem-11741	217	72	7	7	NUM
dem-11741	217	73	.	.	NOUN
dem-11741	217	74	4	4	NUM
dem-11741	217	75	explanations	explanation	NOUN
dem-11741	217	76	of	of	ADP
dem-11741	217	77	used	use	VERB
dem-11741	217	78	abbreviations	abbreviation	NOUN
dem-11741	217	79	for	for	ADP
dem-11741	217	80	listed	list	VERB
dem-11741	217	81	companies	company	NOUN
dem-11741	217	82	can	can	AUX
dem-11741	217	83	be	be	AUX
dem-11741	217	84	found	find	VERB
dem-11741	217	85	in	in	ADP
dem-11741	217	86	table	table	NOUN
dem-11741	217	87	8	8	NUM
dem-11741	217	88	.	.	PUNCT
dem-11741	218	1	sgn	sgn	NOUN
dem-11741	218	2	2008	2008	NUM
dem-11741	218	3	2010	2010	NUM
dem-11741	218	4	2	2	NUM
dem-11741	218	5	4	4	NUM
dem-11741	218	6	sgn	sgn	NOUN
dem-11741	218	7	ctc	ctc	NOUN
dem-11741	218	8	2008	2008	NUM
dem-11741	218	9	2010	2010	NUM
dem-11741	218	10	2	2	NUM
dem-11741	218	11	4	4	NUM
dem-11741	218	12	ctc	ctc	PROPN
dem-11741	218	13	elz	elz	PROPN
dem-11741	218	14	2008	2008	NUM
dem-11741	218	15	2010	2010	NUM
dem-11741	218	16	2.5	2.5	NUM
dem-11741	218	17	7.5	7.5	NUM
dem-11741	218	18	elz	elz	PROPN
dem-11741	218	19	acp	acp	PROPN
dem-11741	218	20	2008	2008	NUM
dem-11741	218	21	2010	2010	NUM
dem-11741	218	22	2.5	2.5	NUM
dem-11741	218	23	7.5	7.5	NUM
dem-11741	218	24	acp	acp	PROPN
dem-11741	218	25	cmr	cmr	PROPN
dem-11741	218	26	2008	2008	NUM
dem-11741	218	27	2010	2010	NUM
dem-11741	218	28	2	2	NUM
dem-11741	218	29	4	4	NUM
dem-11741	218	30	cmr	cmr	NOUN
dem-11741	218	31	mcl	mcl	PROPN
dem-11741	218	32	2008	2008	NUM
dem-11741	218	33	2010	2010	NUM
dem-11741	218	34	2	2	NUM
dem-11741	218	35	4	4	NUM
dem-11741	218	36	mcl	mcl	PROPN
dem-11741	218	37	tlx	tlx	PROPN
dem-11741	218	38	2008	2008	NUM
dem-11741	218	39	2010	2010	NUM
dem-11741	218	40	2	2	NUM
dem-11741	218	41	4	4	NUM
dem-11741	218	42	tlx	tlx	NOUN
dem-11741	218	43	sme	sme	PROPN
dem-11741	218	44	2008	2008	NUM
dem-11741	218	45	2010	2010	NUM
dem-11741	218	46	2	2	NUM
dem-11741	218	47	4	4	NUM
dem-11741	218	48	sme	sme	NOUN
dem-11741	218	49	was	be	AUX
dem-11741	218	50	2008	2008	NUM
dem-11741	218	51	2010	2010	NUM
dem-11741	218	52	2	2	NUM
dem-11741	218	53	4	4	NUM
dem-11741	218	54	was	be	AUX
dem-11741	218	55	cdr	cdr	NOUN
dem-11741	218	56	2008	2008	NUM
dem-11741	218	57	2010	2010	NUM
dem-11741	218	58	2	2	NUM
dem-11741	218	59	4	4	NUM
dem-11741	218	60	cdr	cdr	NOUN
dem-11741	218	61	bcm	bcm	NOUN
dem-11741	218	62	2008	2008	NUM
dem-11741	218	63	2010	2010	NUM
dem-11741	218	64	2	2	NUM
dem-11741	218	65	4	4	NUM
dem-11741	218	66	bcm	bcm	NOUN
dem-11741	218	67	atm	atm	NOUN
dem-11741	218	68	2008	2008	NUM
dem-11741	218	69	2010	2010	NUM
dem-11741	218	70	2	2	NUM
dem-11741	218	71	4	4	NUM
dem-11741	218	72	atm	atm	NOUN
dem-11741	218	73	cmp	cmp	NOUN
dem-11741	218	74	2008	2008	NUM
dem-11741	218	75	2010	2010	NUM
dem-11741	218	76	2	2	NUM
dem-11741	218	77	4	4	NUM
dem-11741	218	78	cmp	cmp	NOUN
dem-11741	218	79	pcg	pcg	PROPN
dem-11741	218	80	2008	2008	NUM
dem-11741	218	81	2010	2010	NUM
dem-11741	218	82	5	5	NUM
dem-11741	218	83	15	15	NUM
dem-11741	218	84	pcg	pcg	PROPN
dem-11741	218	85	qsm	qsm	NOUN
dem-11741	218	86	2008	2008	NUM
dem-11741	218	87	2010	2010	NUM
dem-11741	218	88	2	2	NUM
dem-11741	218	89	4	4	NUM
dem-11741	218	90	qsm	qsm	NOUN
dem-11741	218	91	u2k	u2k	NUM
dem-11741	218	92	2008	2008	NUM
dem-11741	218	93	2010	2010	NUM
dem-11741	218	94	2	2	NUM
dem-11741	218	95	4	4	NUM
dem-11741	218	96	u2k	u2k	PROPN
dem-11741	218	97	lsi	lsi	PROPN
dem-11741	218	98	2008	2008	NUM
dem-11741	218	99	2010	2010	NUM
dem-11741	218	100	2	2	NUM
dem-11741	218	101	4	4	NUM
dem-11741	218	102	lsi	lsi	PROPN
dem-11741	218	103	imx	imx	PROPN
dem-11741	218	104	2008	2008	NUM
dem-11741	218	105	2010	2010	NUM
dem-11741	218	106	2	2	NUM
dem-11741	218	107	4	4	NUM
dem-11741	218	108	imx	imx	NOUN
dem-11741	218	109	prd	prd	NOUN
dem-11741	218	110	2008	2008	NUM
dem-11741	218	111	2010	2010	NUM
dem-11741	218	112	2	2	NUM
dem-11741	218	113	4	4	NUM
dem-11741	218	114	prd	prd	NOUN
dem-11741	218	115	ntt	ntt	NOUN
dem-11741	218	116	2008	2008	NUM
dem-11741	218	117	2010	2010	NUM
dem-11741	218	118	2	2	NUM
dem-11741	218	119	4	4	NUM
dem-11741	218	120	ntt	ntt	PROPN
dem-11741	218	121	włodarczyk	włodarczyk	PROPN
dem-11741	218	122	,	,	PUNCT
dem-11741	218	123	otola	otola	PROPN
dem-11741	218	124	dynamic	dynamic	ADJ
dem-11741	218	125	econometric	econometric	ADJ
dem-11741	218	126	models	model	NOUN
dem-11741	218	127	16	16	NUM
dem-11741	218	128	(	(	PUNCT
dem-11741	218	129	2016	2016	NUM
dem-11741	218	130	)	)	PUNCT
dem-11741	219	1	87–116	87–116	PROPN
dem-11741	219	2	102	102	NUM
dem-11741	219	3	companies	company	NOUN
dem-11741	219	4	from	from	ADP
dem-11741	219	5	the	the	DET
dem-11741	219	6	construction	construction	NOUN
dem-11741	219	7	and	and	CCONJ
dem-11741	219	8	it	it	PRON
dem-11741	219	9	sectors	sector	NOUN
dem-11741	219	10	in	in	ADP
dem-11741	219	11	the	the	DET
dem-11741	219	12	stable	stable	ADJ
dem-11741	219	13	and	and	CCONJ
dem-11741	219	14	turbulent	turbulent	ADJ
dem-11741	219	15	periods	period	NOUN
dem-11741	219	16	show	show	VERB
dem-11741	219	17	figures	figure	NOUN
dem-11741	219	18	1–4	1–4	PRON
dem-11741	219	19	.	.	PUNCT
dem-11741	220	1	in	in	ADP
dem-11741	220	2	the	the	DET
dem-11741	220	3	stable	stable	ADJ
dem-11741	220	4	period	period	NOUN
dem-11741	220	5	the	the	DET
dem-11741	220	6	biggest	big	ADJ
dem-11741	220	7	range	range	NOUN
dem-11741	220	8	of	of	ADP
dem-11741	220	9	daily	daily	ADJ
dem-11741	220	10	share	share	NOUN
dem-11741	220	11	price	price	NOUN
dem-11741	220	12	volatility	volatility	NOUN
dem-11741	220	13	fell	fall	VERB
dem-11741	220	14	for	for	ADP
dem-11741	220	15	budopol	budopol	NOUN
dem-11741	220	16	sa	sa	PROPN
dem-11741	220	17	company	company	NOUN
dem-11741	220	18	.	.	PUNCT
dem-11741	221	1	high	high	ADJ
dem-11741	221	2	daily	daily	ADJ
dem-11741	221	3	spread	spread	NOUN
dem-11741	221	4	of	of	ADP
dem-11741	221	5	volatility	volatility	NOUN
dem-11741	221	6	was	be	AUX
dem-11741	221	7	also	also	ADV
dem-11741	221	8	characteristic	characteristic	ADJ
dem-11741	221	9	for	for	ADP
dem-11741	221	10	such	such	ADJ
dem-11741	221	11	companies	company	NOUN
dem-11741	221	12	as	as	ADP
dem-11741	221	13	:	:	PUNCT
dem-11741	221	14	awbud	awbud	PROPN
dem-11741	221	15	sa	sa	PROPN
dem-11741	221	16	,	,	PUNCT
dem-11741	221	17	energopol	energopol	PROPN
dem-11741	221	18	południe	południe	PROPN
dem-11741	221	19	sa	sa	PROPN
dem-11741	221	20	,	,	PUNCT
dem-11741	221	21	ulma	ulma	PROPN
dem-11741	221	22	construccion	construccion	PROPN
dem-11741	221	23	sa	sa	PROPN
dem-11741	221	24	.	.	PUNCT
dem-11741	222	1	in	in	ADP
dem-11741	222	2	the	the	DET
dem-11741	222	3	turbulent	turbulent	ADJ
dem-11741	222	4	period	period	NOUN
dem-11741	222	5	two	two	NUM
dem-11741	222	6	companies	company	NOUN
dem-11741	222	7	elkop	elkop	ADP
dem-11741	222	8	sa	sa	PROPN
dem-11741	222	9	and	and	CCONJ
dem-11741	222	10	erbud	erbud	PROPN
dem-11741	222	11	sa	sa	PROPN
dem-11741	222	12	were	be	AUX
dem-11741	222	13	characterized	characterize	VERB
dem-11741	222	14	by	by	ADP
dem-11741	222	15	very	very	ADV
dem-11741	222	16	high	high	ADJ
dem-11741	222	17	daily	daily	ADJ
dem-11741	222	18	volatility	volatility	NOUN
dem-11741	222	19	spread	spread	NOUN
dem-11741	222	20	.	.	PUNCT
dem-11741	223	1	in	in	ADP
dem-11741	223	2	the	the	DET
dem-11741	223	3	stable	stable	ADJ
dem-11741	223	4	period	period	NOUN
dem-11741	223	5	the	the	DET
dem-11741	223	6	highest	high	ADJ
dem-11741	223	7	spread	spread	NOUN
dem-11741	223	8	in	in	ADP
dem-11741	223	9	daily	daily	ADJ
dem-11741	223	10	volatility	volatility	NOUN
dem-11741	223	11	was	be	AUX
dem-11741	223	12	observed	observe	VERB
dem-11741	223	13	for	for	ADP
dem-11741	223	14	the	the	DET
dem-11741	223	15	companies	company	NOUN
dem-11741	223	16	:	:	PUNCT
dem-11741	223	17	simple	simple	PROPN
dem-11741	223	18	sa	sa	PROPN
dem-11741	223	19	,	,	PUNCT
dem-11741	223	20	wasko	wasko	PROPN
dem-11741	223	21	sa	sa	PROPN
dem-11741	223	22	and	and	CCONJ
dem-11741	223	23	calatrava	calatrava	PROPN
dem-11741	223	24	capital	capital	PROPN
dem-11741	223	25	sa	sa	PROPN
dem-11741	223	26	.	.	PUNCT
dem-11741	224	1	in	in	ADP
dem-11741	224	2	the	the	DET
dem-11741	224	3	turbulent	turbulent	ADJ
dem-11741	224	4	period	period	NOUN
dem-11741	224	5	a	a	DET
dem-11741	224	6	high	high	ADJ
dem-11741	224	7	daily	daily	ADJ
dem-11741	224	8	spread	spread	NOUN
dem-11741	224	9	of	of	ADP
dem-11741	224	10	volatility	volatility	NOUN
dem-11741	224	11	was	be	AUX
dem-11741	224	12	observed	observe	VERB
dem-11741	224	13	in	in	ADP
dem-11741	224	14	the	the	DET
dem-11741	224	15	companies	company	NOUN
dem-11741	224	16	:	:	PUNCT
dem-11741	224	17	zuk	zuk	PROPN
dem-11741	224	18	elzab	elzab	PROPN
dem-11741	224	19	,	,	PUNCT
dem-11741	224	20	asseco	asseco	PROPN
dem-11741	224	21	poland	poland	PROPN
dem-11741	224	22	sa	sa	PROPN
dem-11741	224	23	,	,	PUNCT
dem-11741	224	24	cd	cd	PROPN
dem-11741	224	25	project	project	NOUN
dem-11741	224	26	red	red	PROPN
dem-11741	224	27	sa	sa	PROPN
dem-11741	224	28	,	,	PUNCT
dem-11741	224	29	calatrava	calatrava	PROPN
dem-11741	224	30	capital	capital	PROPN
dem-11741	224	31	sa	sa	PROPN
dem-11741	224	32	,	,	PUNCT
dem-11741	224	33	simple	simple	ADJ
dem-11741	224	34	sa	sa	PROPN
dem-11741	224	35	,	,	PUNCT
dem-11741	224	36	pc	pc	NOUN
dem-11741	224	37	guard	guard	NOUN
dem-11741	224	38	sa	sa	PROPN
dem-11741	224	39	,	,	PUNCT
dem-11741	224	40	lsi	lsi	PROPN
dem-11741	224	41	software	software	PROPN
dem-11741	224	42	sa	sa	PROPN
dem-11741	224	43	,	,	PUNCT
dem-11741	224	44	ntt	ntt	PROPN
dem-11741	224	45	system	system	PROPN
dem-11741	224	46	sa	sa	PROPN
dem-11741	224	47	.	.	PUNCT
dem-11741	225	1	the	the	DET
dem-11741	225	2	presented	present	VERB
dem-11741	225	3	above	above	ADP
dem-11741	225	4	descriptive	descriptive	ADJ
dem-11741	225	5	statistics	statistic	NOUN
dem-11741	225	6	for	for	ADP
dem-11741	225	7	enterprises	enterprise	NOUN
dem-11741	225	8	listed	list	VERB
dem-11741	225	9	on	on	ADP
dem-11741	225	10	the	the	DET
dem-11741	225	11	warsaw	warsaw	PROPN
dem-11741	225	12	stock	stock	PROPN
dem-11741	225	13	exchange	exchange	NOUN
dem-11741	225	14	from	from	ADP
dem-11741	225	15	the	the	DET
dem-11741	225	16	construction	construction	NOUN
dem-11741	225	17	and	and	CCONJ
dem-11741	225	18	it	it	PRON
dem-11741	225	19	sectors	sector	NOUN
dem-11741	225	20	let	let	VERB
dem-11741	225	21	us	we	PRON
dem-11741	225	22	notice	notice	VERB
dem-11741	225	23	differences	difference	NOUN
dem-11741	225	24	both	both	PRON
dem-11741	225	25	between	between	ADP
dem-11741	225	26	sectors	sector	NOUN
dem-11741	225	27	as	as	ADV
dem-11741	225	28	well	well	ADV
dem-11741	225	29	as	as	ADP
dem-11741	225	30	the	the	DET
dem-11741	225	31	stable	stable	ADJ
dem-11741	225	32	and	and	CCONJ
dem-11741	225	33	turbulent	turbulent	ADJ
dem-11741	225	34	periods	period	NOUN
dem-11741	225	35	.	.	PUNCT
dem-11741	226	1	4	4	X
dem-11741	226	2	.	.	X
dem-11741	226	3	verifying	verify	VERB
dem-11741	226	4	the	the	DET
dem-11741	226	5	hypothesis	hypothesis	NOUN
dem-11741	226	6	about	about	ADP
dem-11741	226	7	the	the	DET
dem-11741	226	8	commonality	commonality	NOUN
dem-11741	226	9	in	in	ADP
dem-11741	226	10	volatility	volatility	NOUN
dem-11741	226	11	in	in	ADP
dem-11741	226	12	stable	stable	ADJ
dem-11741	226	13	and	and	CCONJ
dem-11741	226	14	turbulent	turbulent	ADJ
dem-11741	226	15	period	period	NOUN
dem-11741	226	16	time	time	NOUN
dem-11741	226	17	series	series	PROPN
dem-11741	226	18	volatility	volatility	NOUN
dem-11741	226	19	v1	v1	NOUN
dem-11741	226	20	of	of	ADP
dem-11741	226	21	share	share	NOUN
dem-11741	226	22	prices	price	NOUN
dem-11741	226	23	of	of	ADP
dem-11741	226	24	enterprises	enterprise	NOUN
dem-11741	226	25	from	from	ADP
dem-11741	226	26	the	the	DET
dem-11741	226	27	construction	construction	NOUN
dem-11741	226	28	and	and	CCONJ
dem-11741	226	29	it	it	PRON
dem-11741	226	30	sectors	sector	NOUN
dem-11741	226	31	in	in	ADP
dem-11741	226	32	the	the	DET
dem-11741	226	33	stable	stable	ADJ
dem-11741	226	34	period	period	NOUN
dem-11741	226	35	i.e.	i.e.	X
dem-11741	226	36	02.01.2004.–25.07.2007	02.01.2004.–25.07.2007	NUM
dem-11741	226	37	and	and	CCONJ
dem-11741	226	38	the	the	DET
dem-11741	226	39	turbulent	turbulent	ADJ
dem-11741	226	40	one	one	NOUN
dem-11741	226	41	26.07.2007–31.12.2011	26.07.2007–31.12.2011	NUM
dem-11741	226	42	were	be	AUX
dem-11741	226	43	subject	subject	ADJ
dem-11741	226	44	to	to	ADP
dem-11741	226	45	modelling	model	VERB
dem-11741	226	46	in	in	ADP
dem-11741	226	47	order	order	NOUN
dem-11741	226	48	to	to	PART
dem-11741	226	49	verify	verify	VERB
dem-11741	226	50	the	the	DET
dem-11741	226	51	occurrence	occurrence	NOUN
dem-11741	226	52	of	of	ADP
dem-11741	226	53	significant	significant	ADJ
dem-11741	226	54	relationships	relationship	NOUN
dem-11741	226	55	between	between	ADP
dem-11741	226	56	firm	firm	ADJ
dem-11741	226	57	volatility	volatility	NOUN
dem-11741	226	58	and	and	CCONJ
dem-11741	226	59	wig	wig	NOUN
dem-11741	226	60	index	index	NOUN
dem-11741	226	61	volatility	volatility	NOUN
dem-11741	226	62	.	.	PUNCT
dem-11741	227	1	due	due	ADP
dem-11741	227	2	to	to	ADP
dem-11741	227	3	the	the	DET
dem-11741	227	4	characteristic	characteristic	ADJ
dem-11741	227	5	properties	property	NOUN
dem-11741	227	6	of	of	ADP
dem-11741	227	7	volatility	volatility	NOUN
dem-11741	227	8	time	time	NOUN
dem-11741	227	9	series	series	NOUN
dem-11741	227	10	,	,	PUNCT
dem-11741	227	11	which	which	PRON
dem-11741	227	12	were	be	AUX
dem-11741	227	13	the	the	DET
dem-11741	227	14	subject	subject	NOUN
dem-11741	227	15	of	of	ADP
dem-11741	227	16	modelling	modelling	NOUN
dem-11741	227	17	:	:	PUNCT
dem-11741	227	18	skewness	skewness	NOUN
dem-11741	227	19	,	,	PUNCT
dem-11741	227	20	high	high	ADJ
dem-11741	227	21	kurtosis	kurtosis	NOUN
dem-11741	227	22	,	,	PUNCT
dem-11741	227	23	fattailed	fattaile	VERB
dem-11741	227	24	distribution	distribution	NOUN
dem-11741	227	25	,	,	PUNCT
dem-11741	227	26	autocorrelation	autocorrelation	NOUN
dem-11741	227	27	dependencies	dependency	NOUN
dem-11741	227	28	(	(	PUNCT
dem-11741	227	29	box	box	NOUN
dem-11741	227	30	-	-	PUNCT
dem-11741	227	31	pierce	pierce	PROPN
dem-11741	227	32	test	test	NOUN
dem-11741	227	33	)	)	PUNCT
dem-11741	227	34	,	,	PUNCT
dem-11741	227	35	occurrence	occurrence	NOUN
dem-11741	227	36	of	of	ADP
dem-11741	227	37	long	long	ADJ
dem-11741	227	38	memory	memory	NOUN
dem-11741	227	39	effect	effect	NOUN
dem-11741	227	40	(	(	PUNCT
dem-11741	227	41	gph	gph	NOUN
dem-11741	227	42	test	test	NOUN
dem-11741	227	43	)	)	PUNCT
dem-11741	227	44	,	,	PUNCT
dem-11741	227	45	occurrence	occurrence	NOUN
dem-11741	227	46	of	of	ADP
dem-11741	227	47	volatility	volatility	NOUN
dem-11741	227	48	clustering	clustering	NOUN
dem-11741	227	49	effect	effect	NOUN
dem-11741	227	50	(	(	PUNCT
dem-11741	227	51	engle	engle	NOUN
dem-11741	227	52	test	test	NOUN
dem-11741	227	53	,	,	PUNCT
dem-11741	227	54	mcleod	mcleod	PROPN
dem-11741	227	55	and	and	CCONJ
dem-11741	227	56	li	li	PROPN
dem-11741	227	57	test	test	PROPN
dem-11741	227	58	)	)	PUNCT
dem-11741	227	59	(	(	PUNCT
dem-11741	227	60	see	see	VERB
dem-11741	227	61	table	table	NOUN
dem-11741	227	62	3	3	NUM
dem-11741	227	63	)	)	PUNCT
dem-11741	227	64	,	,	PUNCT
dem-11741	227	65	for	for	SCONJ
dem-11741	227	66	each	each	DET
dem-11741	227	67	volatility	volatility	NOUN
dem-11741	227	68	series	series	PROPN
dem-11741	227	69	individual	individual	ADJ
dem-11741	227	70	specification	specification	NOUN
dem-11741	227	71	of	of	ADP
dem-11741	227	72	the	the	DET
dem-11741	227	73	model	model	NOUN
dem-11741	227	74	in	in	ADP
dem-11741	227	75	the	the	DET
dem-11741	227	76	form	form	NOUN
dem-11741	227	77	(	(	PUNCT
dem-11741	227	78	5)–(8	5)–(8	NUM
dem-11741	227	79	)	)	PUNCT
dem-11741	227	80	were	be	AUX
dem-11741	227	81	selected	select	VERB
dem-11741	227	82	with	with	ADP
dem-11741	227	83	t	t	PROPN
dem-11741	227	84	-	-	PUNCT
dem-11741	227	85	student	student	NOUN
dem-11741	227	86	distribution	distribution	NOUN
dem-11741	227	87	or	or	CCONJ
dem-11741	227	88	skewed	skew	VERB
dem-11741	227	89	t	t	PROPN
dem-11741	227	90	-	-	PUNCT
dem-11741	227	91	student	student	NOUN
dem-11741	227	92	distribution	distribution	NOUN
dem-11741	227	93	(	(	PUNCT
dem-11741	227	94	laurent	laurent	NOUN
dem-11741	227	95	,	,	PUNCT
dem-11741	227	96	2013	2013	NUM
dem-11741	227	97	)	)	PUNCT
dem-11741	227	98	.	.	PUNCT
dem-11741	228	1	additionally	additionally	ADV
dem-11741	228	2	,	,	PUNCT
dem-11741	228	3	in	in	ADP
dem-11741	228	4	the	the	DET
dem-11741	228	5	conditional	conditional	ADJ
dem-11741	228	6	mean	mean	NOUN
dem-11741	228	7	equation	equation	NOUN
dem-11741	228	8	is	be	AUX
dem-11741	228	9	assumed	assume	VERB
dem-11741	228	10	that	that	SCONJ
dem-11741	228	11	the	the	DET
dem-11741	228	12	firm	firm	ADJ
dem-11741	228	13	volatility	volatility	NOUN
dem-11741	228	14	is	be	AUX
dem-11741	228	15	dependent	dependent	ADJ
dem-11741	228	16	on	on	ADP
dem-11741	228	17	previous	previous	ADJ
dem-11741	228	18	,	,	PUNCT
dem-11741	228	19	present	present	ADJ
dem-11741	228	20	and	and	CCONJ
dem-11741	228	21	future	future	ADJ
dem-11741	228	22	market	market	NOUN
dem-11741	228	23	volatility	volatility	NOUN
dem-11741	228	24	and	and	CCONJ
dem-11741	228	25	also	also	ADV
dem-11741	228	26	expected	expect	VERB
dem-11741	228	27	daily	daily	ADJ
dem-11741	228	28	change	change	NOUN
dem-11741	228	29	of	of	ADP
dem-11741	228	30	the	the	DET
dem-11741	228	31	wig	wig	NOUN
dem-11741	228	32	index	index	NOUN
dem-11741	228	33	and	and	CCONJ
dem-11741	228	34	the	the	DET
dem-11741	228	35	squared	square	VERB
dem-11741	228	36	wig	wig	NOUN
dem-11741	228	37	index	index	NOUN
dem-11741	228	38	return	return	NOUN
dem-11741	228	39	.	.	PUNCT
dem-11741	229	1	the	the	DET
dem-11741	229	2	choice	choice	NOUN
dem-11741	229	3	of	of	ADP
dem-11741	229	4	the	the	DET
dem-11741	229	5	final	final	ADJ
dem-11741	229	6	form	form	NOUN
dem-11741	229	7	of	of	ADP
dem-11741	229	8	the	the	DET
dem-11741	229	9	firm	firm	ADJ
dem-11741	229	10	volatility	volatility	NOUN
dem-11741	229	11	model	model	NOUN
dem-11741	229	12	has	have	AUX
dem-11741	229	13	been	be	AUX
dem-11741	229	14	performed	perform	VERB
dem-11741	229	15	on	on	ADP
dem-11741	229	16	the	the	DET
dem-11741	229	17	basis	basis	NOUN
dem-11741	229	18	of	of	ADP
dem-11741	229	19	:	:	PUNCT
dem-11741	229	20			NOUN
dem-11741	229	21	evaluating	evaluating	NOUN
dem-11741	229	22	significance	significance	NOUN
dem-11741	229	23	of	of	ADP
dem-11741	229	24	the	the	DET
dem-11741	229	25	model	model	NOUN
dem-11741	229	26	parameters	parameter	NOUN
dem-11741	229	27	estimations	estimation	NOUN
dem-11741	229	28	;	;	PUNCT
dem-11741	229	29			NOUN
dem-11741	229	30	minimizing	minimize	VERB
dem-11741	229	31	information	information	NOUN
dem-11741	229	32	criteria	criterion	NOUN
dem-11741	229	33	of	of	ADP
dem-11741	229	34	akaike’a	akaike’a	PROPN
dem-11741	229	35	(	(	PUNCT
dem-11741	229	36	aic	aic	PROPN
dem-11741	229	37	)	)	PUNCT
dem-11741	229	38	and	and	CCONJ
dem-11741	229	39	bayesian	bayesian	NOUN
dem-11741	229	40	schwarz	schwarz	PROPN
dem-11741	229	41	(	(	PUNCT
dem-11741	229	42	sc	sc	PROPN
dem-11741	229	43	)	)	PUNCT
dem-11741	229	44	;	;	PUNCT
dem-11741	229	45	analysis	analysis	NOUN
dem-11741	229	46	of	of	ADP
dem-11741	229	47	the	the	DET
dem-11741	229	48	relationship	relationship	NOUN
dem-11741	229	49	between	between	ADP
dem-11741	229	50	market	market	NOUN
dem-11741	229	51	volatility	volatility	NOUN
dem-11741	229	52	and	and	CCONJ
dem-11741	229	53	firms	firm	NOUN
dem-11741	229	54	volatility	volatility	NOUN
dem-11741	229	55	…	…	SYM
dem-11741	229	56	dynamic	dynamic	ADJ
dem-11741	229	57	econometric	econometric	ADJ
dem-11741	229	58	models	model	NOUN
dem-11741	229	59	16	16	NUM
dem-11741	229	60	(	(	PUNCT
dem-11741	229	61	2016	2016	NUM
dem-11741	229	62	)	)	PUNCT
dem-11741	229	63	87–116	87–116	PROPN
dem-11741	229	64	103	103	NUM
dem-11741	229	65			NOUN
dem-11741	229	66	test	test	NOUN
dem-11741	229	67	results	result	NOUN
dem-11741	229	68	of	of	ADP
dem-11741	229	69	standardized	standardized	ADJ
dem-11741	229	70	models	model	NOUN
dem-11741	229	71	residuals	residual	NOUN
dem-11741	229	72	which	which	PRON
dem-11741	229	73	verified	verify	VERB
dem-11741	229	74	the	the	DET
dem-11741	229	75	correctness	correctness	NOUN
dem-11741	229	76	of	of	ADP
dem-11741	229	77	the	the	DET
dem-11741	229	78	model	model	ADJ
dem-11741	229	79	dynamic	dynamic	PROPN
dem-11741	229	80	specification	specification	NOUN
dem-11741	229	81	:	:	PUNCT
dem-11741	229	82	box	box	PROPN
dem-11741	229	83	-	-	PUNCT
dem-11741	229	84	pierce	pierce	PROPN
dem-11741	229	85	test	test	NOUN
dem-11741	229	86	,	,	PUNCT
dem-11741	229	87	engle	engle	PROPN
dem-11741	229	88	test	test	PROPN
dem-11741	229	89	,	,	PUNCT
dem-11741	229	90	mcleod	mcleod	PROPN
dem-11741	229	91	and	and	CCONJ
dem-11741	229	92	li	li	PROPN
dem-11741	229	93	test	test	NOUN
dem-11741	229	94	;	;	PUNCT
dem-11741	229	95			NOUN
dem-11741	229	96	nyblom	nyblom	ADJ
dem-11741	229	97	test	test	NOUN
dem-11741	229	98	for	for	ADP
dem-11741	229	99	checking	check	VERB
dem-11741	229	100	the	the	DET
dem-11741	229	101	constancy	constancy	NOUN
dem-11741	229	102	of	of	ADP
dem-11741	229	103	model	model	NOUN
dem-11741	229	104	parameters	parameter	NOUN
dem-11741	229	105	over	over	ADP
dem-11741	229	106	time	time	NOUN
dem-11741	229	107	;	;	PUNCT
dem-11741	229	108			NOUN
dem-11741	229	109	engle	engle	NOUN
dem-11741	229	110	and	and	CCONJ
dem-11741	229	111	ng	ng	PROPN
dem-11741	229	112	set	set	NOUN
dem-11741	229	113	of	of	ADP
dem-11741	229	114	tests	test	NOUN
dem-11741	229	115	for	for	ADP
dem-11741	229	116	existing	exist	VERB
dem-11741	229	117	leverage	leverage	NOUN
dem-11741	229	118	effect	effect	NOUN
dem-11741	229	119	and	and	CCONJ
dem-11741	229	120	investigating	investigate	VERB
dem-11741	229	121	possible	possible	ADJ
dem-11741	229	122	misspecification	misspecification	NOUN
dem-11741	229	123	of	of	ADP
dem-11741	229	124	the	the	DET
dem-11741	229	125	conditional	conditional	ADJ
dem-11741	229	126	variance	variance	NOUN
dem-11741	229	127	equation	equation	NOUN
dem-11741	229	128	(	(	PUNCT
dem-11741	229	129	figarch	figarch	NOUN
dem-11741	229	130	vs.	vs.	ADP
dem-11741	229	131	fieparch	fieparch	NOUN
dem-11741	229	132	)	)	PUNCT
dem-11741	229	133	,	,	PUNCT
dem-11741	229	134	with	with	ADP
dem-11741	229	135	in	in	ADP
dem-11741	229	136	particularly	particularly	ADV
dem-11741	229	137	covered	cover	VERB
dem-11741	229	138	negative	negative	ADJ
dem-11741	229	139	sign	sign	NOUN
dem-11741	229	140	bias	bias	NOUN
dem-11741	229	141	test	test	NOUN
dem-11741	229	142	and	and	CCONJ
dem-11741	229	143	positive	positive	ADJ
dem-11741	229	144	sign	sign	NOUN
dem-11741	229	145	bias	bias	NOUN
dem-11741	229	146	test	test	NOUN
dem-11741	229	147	for	for	ADP
dem-11741	229	148	verifying	verify	VERB
dem-11741	229	149	the	the	DET
dem-11741	229	150	effect	effect	NOUN
dem-11741	229	151	of	of	ADP
dem-11741	229	152	negative	negative	ADJ
dem-11741	229	153	and	and	CCONJ
dem-11741	229	154	positive	positive	ADJ
dem-11741	229	155	shocks	shock	NOUN
dem-11741	229	156	on	on	ADP
dem-11741	229	157	the	the	DET
dem-11741	229	158	conditional	conditional	ADJ
dem-11741	229	159	variance	variance	NOUN
dem-11741	229	160	(	(	PUNCT
dem-11741	229	161	laurent	laurent	NOUN
dem-11741	229	162	,	,	PUNCT
dem-11741	229	163	2013	2013	NUM
dem-11741	229	164	)	)	PUNCT
dem-11741	229	165	.	.	PUNCT
dem-11741	230	1	table	table	NOUN
dem-11741	230	2	3	3	NUM
dem-11741	230	3	.	.	PUNCT
dem-11741	230	4	descriptive	descriptive	ADJ
dem-11741	230	5	statistics	statistic	NOUN
dem-11741	230	6	and	and	CCONJ
dem-11741	230	7	diagnostic	diagnostic	ADJ
dem-11741	230	8	tests	test	NOUN
dem-11741	230	9	for	for	ADP
dem-11741	230	10	volatility	volatility	NOUN
dem-11741	230	11	series	series	NOUN
dem-11741	230	12	of	of	ADP
dem-11741	230	13	msw	msw	NOUN
dem-11741	230	14	in	in	ADP
dem-11741	230	15	stable	stable	ADJ
dem-11741	230	16	period	period	NOUN
dem-11741	230	17	parameter	parameter	NOUN
dem-11741	230	18	/	/	SYM
dem-11741	230	19	test	test	NOUN
dem-11741	230	20	value	value	NOUN
dem-11741	230	21	of	of	ADP
dem-11741	230	22	statistics	statistic	NOUN
dem-11741	230	23	mean	mean	VERB
dem-11741	230	24	0.868	0.868	NUM
dem-11741	230	25	standard	standard	ADJ
dem-11741	230	26	deviation	deviation	NOUN
dem-11741	230	27	1.410	1.410	NUM
dem-11741	230	28	minimum	minimum	NOUN
dem-11741	230	29	0	0	NUM
dem-11741	230	30	maximum	maximum	PROPN
dem-11741	230	31	14.537	14.537	NUM
dem-11741	230	32	skewness	skewness	NOUN
dem-11741	230	33	5.239	5.239	NUM
dem-11741	231	1	[	[	NOUN
dem-11741	231	2	0.000	0.000	NUM
dem-11741	231	3	]	]	PUNCT
dem-11741	231	4	kurtosis	kurtosis	VERB
dem-11741	231	5	38.493	38.493	NUM
dem-11741	231	6	[	[	X
dem-11741	231	7	0.000	0.000	NUM
dem-11741	231	8	]	]	X
dem-11741	231	9	jarque	jarque	NOUN
dem-11741	231	10	-	-	PUNCT
dem-11741	231	11	bera	bera	NOUN
dem-11741	231	12	statistics	statistic	NOUN
dem-11741	231	13	59616	59616	NUM
dem-11741	232	1	[	[	X
dem-11741	232	2	0.000	0.000	X
dem-11741	232	3	]	]	X
dem-11741	232	4	adf	adf	NOUN
dem-11741	232	5	statistics	statistic	NOUN
dem-11741	232	6	–	–	PUNCT
dem-11741	232	7	6.588	6.588	NUM
dem-11741	232	8	d	d	X
dem-11741	232	9	-	-	PUNCT
dem-11741	232	10	gph	gph	NOUN
dem-11741	232	11	statistics	statistic	NOUN
dem-11741	232	12	0.259	0.259	NUM
dem-11741	233	1	[	[	X
dem-11741	233	2	0.000	0.000	X
dem-11741	233	3	]	]	X
dem-11741	233	4	q	q	PROPN
dem-11741	233	5	box	box	PROPN
dem-11741	233	6	-	-	PUNCT
dem-11741	233	7	pierce	pierce	PROPN
dem-11741	233	8	statistics	statistics	PROPN
dem-11741	233	9	q(5	q(5	PROPN
dem-11741	233	10	)	)	PUNCT
dem-11741	233	11	71.1948	71.1948	NUM
dem-11741	234	1	[	[	X
dem-11741	234	2	0.000	0.000	NUM
dem-11741	234	3	]	]	X
dem-11741	234	4	q(10	q(10	NOUN
dem-11741	234	5	)	)	PUNCT
dem-11741	234	6	120.783	120.783	NUM
dem-11741	235	1	[	[	X
dem-11741	235	2	0.000	0.000	NUM
dem-11741	235	3	]	]	PUNCT
dem-11741	235	4	q(20	q(20	VERB
dem-11741	235	5	)	)	PUNCT
dem-11741	235	6	145.085	145.085	NUM
dem-11741	236	1	[	[	X
dem-11741	236	2	0.000	0.000	NUM
dem-11741	236	3	]	]	SYM
dem-11741	236	4	q(50	q(50	NOUN
dem-11741	236	5	)	)	PUNCT
dem-11741	236	6	172.831	172.831	NUM
dem-11741	237	1	[	[	X
dem-11741	237	2	0.000	0.000	NUM
dem-11741	237	3	]	]	X
dem-11741	237	4	q	q	PRON
dem-11741	237	5	mcleod	mcleod	PROPN
dem-11741	237	6	-	-	PUNCT
dem-11741	237	7	li	li	PROPN
dem-11741	237	8	statistics	statistics	PROPN
dem-11741	237	9	q(5	q(5	PROPN
dem-11741	237	10	)	)	PUNCT
dem-11741	237	11	117.096	117.096	NUM
dem-11741	238	1	[	[	X
dem-11741	238	2	0.000	0.000	NUM
dem-11741	238	3	]	]	X
dem-11741	238	4	q(10	q(10	NOUN
dem-11741	238	5	)	)	PUNCT
dem-11741	238	6	182.624	182.624	NUM
dem-11741	239	1	[	[	X
dem-11741	239	2	0.000	0.000	X
dem-11741	239	3	]	]	PUNCT
dem-11741	239	4	q(20	q(20	VERB
dem-11741	239	5	)	)	PUNCT
dem-11741	239	6	204.178	204.178	NUM
dem-11741	240	1	[	[	X
dem-11741	240	2	0.000	0.000	NUM
dem-11741	240	3	]	]	SYM
dem-11741	240	4	q(50	q(50	NOUN
dem-11741	240	5	)	)	PUNCT
dem-11741	240	6	214.615	214.615	NUM
dem-11741	241	1	[	[	X
dem-11741	241	2	0.000	0.000	NUM
dem-11741	241	3	]	]	X
dem-11741	241	4	engle	engle	PROPN
dem-11741	241	5	lm	lm	PROPN
dem-11741	241	6	statistics	statistic	NOUN
dem-11741	241	7	arch(1–1	arch(1–1	VERB
dem-11741	241	8	)	)	PUNCT
dem-11741	241	9	46.606	46.606	NUM
dem-11741	242	1	[	[	X
dem-11741	242	2	0.000	0.000	NUM
dem-11741	242	3	]	]	PUNCT
dem-11741	242	4	arch(1–2	arch(1–2	NOUN
dem-11741	242	5	)	)	PUNCT
dem-11741	242	6	25.877	25.877	NUM
dem-11741	243	1	[	[	X
dem-11741	243	2	0.000	0.000	X
dem-11741	243	3	]	]	X
dem-11741	243	4	arch(1–5	arch(1–5	PROPN
dem-11741	243	5	)	)	PUNCT
dem-11741	244	1	23.281	23.281	NUM
dem-11741	245	1	[	[	X
dem-11741	245	2	0.000	0.000	X
dem-11741	245	3	]	]	X
dem-11741	245	4	arch(1–10	arch(1–10	PROPN
dem-11741	245	5	)	)	PUNCT
dem-11741	245	6	15.902	15.902	NUM
dem-11741	246	1	[	[	X
dem-11741	246	2	0.000	0.000	NUM
dem-11741	246	3	]	]	PUNCT
dem-11741	246	4	arch(1–20	arch(1–20	X
dem-11741	246	5	)	)	PUNCT
dem-11741	246	6	9.590	9.590	NUM
dem-11741	247	1	[	[	X
dem-11741	247	2	0.000	0.000	NUM
dem-11741	247	3	]	]	X
dem-11741	247	4	note	note	NOUN
dem-11741	247	5	:	:	PUNCT
dem-11741	247	6	p	p	X
dem-11741	247	7	-	-	PUNCT
dem-11741	247	8	value	value	NOUN
dem-11741	247	9	in	in	ADP
dem-11741	247	10	brackets	bracket	NOUN
dem-11741	247	11	.	.	PUNCT
dem-11741	248	1	below	below	ADP
dem-11741	248	2	we	we	PRON
dem-11741	248	3	present	present	VERB
dem-11741	248	4	the	the	DET
dem-11741	248	5	detailed	detailed	ADJ
dem-11741	248	6	results	result	NOUN
dem-11741	248	7	of	of	ADP
dem-11741	248	8	the	the	DET
dem-11741	248	9	estimation	estimation	NOUN
dem-11741	248	10	of	of	ADP
dem-11741	248	11	arfimaxfigarch	arfimaxfigarch	NOUN
dem-11741	248	12	model	model	NOUN
dem-11741	248	13	with	with	ADP
dem-11741	248	14	t	t	PROPN
dem-11741	248	15	-	-	PUNCT
dem-11741	248	16	student	student	NOUN
dem-11741	248	17	innovations	innovation	NOUN
dem-11741	248	18	for	for	ADP
dem-11741	248	19	the	the	DET
dem-11741	248	20	chosen	choose	VERB
dem-11741	248	21	enterprise	enterprise	NOUN
dem-11741	248	22	from	from	ADP
dem-11741	248	23	the	the	DET
dem-11741	248	24	construction	construction	NOUN
dem-11741	248	25	sector	sector	NOUN
dem-11741	248	26	–	–	PUNCT
dem-11741	248	27	mostostal	mostostal	NOUN
dem-11741	248	28	warszawa	warszawa	PROPN
dem-11741	248	29	sa	sa	PROPN
dem-11741	248	30	(	(	PUNCT
dem-11741	248	31	msw	msw	NOUN
dem-11741	248	32	;	;	PUNCT
dem-11741	248	33	see	see	VERB
dem-11741	248	34	table	table	NOUN
dem-11741	248	35	4a–4b	4a–4b	NOUN
dem-11741	248	36	)	)	PUNCT
dem-11741	248	37	.	.	PUNCT
dem-11741	249	1	włodarczyk	włodarczyk	PROPN
dem-11741	249	2	,	,	PUNCT
dem-11741	249	3	otola	otola	PROPN
dem-11741	249	4	dynamic	dynamic	ADJ
dem-11741	249	5	econometric	econometric	ADJ
dem-11741	249	6	models	model	NOUN
dem-11741	249	7	16	16	NUM
dem-11741	249	8	(	(	PUNCT
dem-11741	249	9	2016	2016	NUM
dem-11741	249	10	)	)	PUNCT
dem-11741	250	1	87–116	87–116	PROPN
dem-11741	250	2	104	104	NUM
dem-11741	250	3	table	table	NOUN
dem-11741	250	4	4a	4a	NOUN
dem-11741	250	5	.	.	PUNCT
dem-11741	251	1	estimation	estimation	NOUN
dem-11741	251	2	results	result	NOUN
dem-11741	251	3	of	of	ADP
dem-11741	251	4	armax(1,2)-garch(1,1	armax(1,2)-garch(1,1	ADP
dem-11741	251	5	)	)	PUNCT
dem-11741	251	6	for	for	ADP
dem-11741	251	7	msw	msw	NOUN
dem-11741	251	8	in	in	ADP
dem-11741	251	9	stable	stable	ADJ
dem-11741	251	10	period	period	NOUN
dem-11741	251	11	parameter	parameter	NOUN
dem-11741	251	12	parameter	parameter	NOUN
dem-11741	251	13	estimates	estimate	VERB
dem-11741	251	14	cst(m	cst(m	NOUN
dem-11741	251	15	)	)	PUNCT
dem-11741	251	16	0.223	0.223	NUM
dem-11741	252	1	[	[	X
dem-11741	252	2	0.000	0.000	X
dem-11741	252	3	]	]	X
dem-11741	252	4	vm	vm	PROPN
dem-11741	252	5	,	,	PUNCT
dem-11741	252	6	t_wig	t_wig	X
dem-11741	252	7	0.369	0.369	NUM
dem-11741	253	1	[	[	X
dem-11741	253	2	0.374	0.374	NUM
dem-11741	253	3	]	]	X
dem-11741	253	4	ar(1	ar(1	NOUN
dem-11741	253	5	)	)	PUNCT
dem-11741	253	6	0.858	0.858	NUM
dem-11741	254	1	[	[	X
dem-11741	254	2	0.000	0.000	NUM
dem-11741	254	3	]	]	SYM
dem-11741	254	4	ma(1	ma(1	NOUN
dem-11741	254	5	)	)	PUNCT
dem-11741	254	6	–	–	PUNCT
dem-11741	254	7	0.712	0.712	NUM
dem-11741	254	8	[	[	X
dem-11741	254	9	0.000	0.000	NUM
dem-11741	254	10	]	]	X
dem-11741	254	11	ma(2	ma(2	NOUN
dem-11741	254	12	)	)	PUNCT
dem-11741	254	13	–	–	PUNCT
dem-11741	254	14	0.049	0.049	NUM
dem-11741	254	15	[	[	X
dem-11741	254	16	0.044	0.044	NUM
dem-11741	254	17	]	]	PUNCT
dem-11741	254	18	cst(v	cst(v	PROPN
dem-11741	254	19	)	)	PUNCT
dem-11741	254	20	0.221	0.221	NUM
dem-11741	254	21	[	[	X
dem-11741	254	22	0.025	0.025	NUM
dem-11741	254	23	]	]	PUNCT
dem-11741	254	24	arch1	arch1	X
dem-11741	255	1	0.165	0.165	NUM
dem-11741	255	2	[	[	X
dem-11741	255	3	0.003	0.003	NUM
dem-11741	255	4	]	]	PUNCT
dem-11741	255	5	garch1	garch1	NOUN
dem-11741	255	6	0.757	0.757	NUM
dem-11741	256	1	[	[	X
dem-11741	256	2	0.000	0.000	NUM
dem-11741	256	3	]	]	X
dem-11741	256	4	df	df	NOUN
dem-11741	256	5	-	-	PUNCT
dem-11741	256	6	student	student	NOUN
dem-11741	256	7	2.258	2.258	NUM
dem-11741	257	1	[	[	X
dem-11741	257	2	0.000	0.000	NUM
dem-11741	257	3	]	]	X
dem-11741	257	4	aic	aic	PROPN
dem-11741	257	5	2.029	2.029	PROPN
dem-11741	257	6	sc	sc	PROPN
dem-11741	257	7	2.072	2.072	NUM
dem-11741	257	8	note	note	NOUN
dem-11741	257	9	:	:	PUNCT
dem-11741	257	10	p	p	X
dem-11741	257	11	-	-	PUNCT
dem-11741	257	12	value	value	NOUN
dem-11741	257	13	in	in	ADP
dem-11741	257	14	brackets	bracket	NOUN
dem-11741	257	15	.	.	PUNCT
dem-11741	258	1	table	table	NOUN
dem-11741	258	2	4b	4b	PROPN
dem-11741	258	3	.	.	PUNCT
dem-11741	259	1	diagnostic	diagnostic	ADJ
dem-11741	259	2	residuals	residual	NOUN
dem-11741	259	3	tests	test	NOUN
dem-11741	259	4	for	for	ADP
dem-11741	259	5	msw	msw	NOUN
dem-11741	259	6	test	test	NOUN
dem-11741	259	7	estimates	estimate	NOUN
dem-11741	259	8	of	of	ADP
dem-11741	259	9	the	the	DET
dem-11741	259	10	test	test	NOUN
dem-11741	259	11	statistics	statistic	NOUN
dem-11741	259	12	q	q	PROPN
dem-11741	259	13	box	box	PROPN
dem-11741	259	14	-	-	PUNCT
dem-11741	259	15	pierce	pierce	PROPN
dem-11741	259	16	statistics	statistic	NOUN
dem-11741	259	17	for	for	ADP
dem-11741	259	18	standardized	standardized	ADJ
dem-11741	259	19	residuals	residual	NOUN
dem-11741	259	20	q(5	q(5	NOUN
dem-11741	259	21	)	)	PUNCT
dem-11741	259	22	8.183	8.183	NUM
dem-11741	259	23	[	[	X
dem-11741	259	24	0.037	0.037	NUM
dem-11741	259	25	]	]	PUNCT
dem-11741	259	26	q(10	q(10	NOUN
dem-11741	259	27	)	)	PUNCT
dem-11741	259	28	11.812	11.812	NUM
dem-11741	259	29	[	[	SYM
dem-11741	259	30	0.107	0.107	NUM
dem-11741	259	31	]	]	PUNCT
dem-11741	259	32	q(20	q(20	VERB
dem-11741	259	33	)	)	PUNCT
dem-11741	259	34	19.714	19.714	NUM
dem-11741	260	1	[	[	X
dem-11741	260	2	0.289	0.289	NUM
dem-11741	260	3	]	]	SYM
dem-11741	260	4	q(50	q(50	NOUN
dem-11741	260	5	)	)	PUNCT
dem-11741	260	6	54.719	54.719	NUM
dem-11741	260	7	[	[	SYM
dem-11741	260	8	0.205	0.205	NUM
dem-11741	260	9	]	]	X
dem-11741	260	10	q	q	PROPN
dem-11741	260	11	box	box	PROPN
dem-11741	260	12	-	-	PUNCT
dem-11741	260	13	pierce	pierce	PROPN
dem-11741	260	14	statistics	statistic	NOUN
dem-11741	260	15	for	for	ADP
dem-11741	260	16	squared	square	VERB
dem-11741	260	17	standardized	standardized	ADJ
dem-11741	260	18	residuals	residual	NOUN
dem-11741	260	19	q(5	q(5	NOUN
dem-11741	260	20	)	)	PUNCT
dem-11741	260	21	0.660	0.660	NUM
dem-11741	261	1	[	[	X
dem-11741	261	2	0.883	0.883	NUM
dem-11741	261	3	]	]	X
dem-11741	261	4	q(10	q(10	NOUN
dem-11741	261	5	)	)	PUNCT
dem-11741	261	6	0.916	0.916	NUM
dem-11741	262	1	[	[	X
dem-11741	262	2	0.999	0.999	NUM
dem-11741	262	3	]	]	PUNCT
dem-11741	262	4	q(20	q(20	VERB
dem-11741	262	5	)	)	PUNCT
dem-11741	262	6	2.187	2.187	NUM
dem-11741	262	7	[	[	X
dem-11741	262	8	0.999	0.999	NUM
dem-11741	262	9	]	]	SYM
dem-11741	262	10	q(50	q(50	NOUN
dem-11741	262	11	)	)	PUNCT
dem-11741	262	12	3.857	3.857	NUM
dem-11741	263	1	[	[	X
dem-11741	263	2	0.999	0.999	NUM
dem-11741	263	3	]	]	X
dem-11741	263	4	engle	engle	PROPN
dem-11741	263	5	lm	lm	PROPN
dem-11741	263	6	statistics	statistic	NOUN
dem-11741	263	7	arch(1–2	arch(1–2	NOUN
dem-11741	263	8	)	)	PUNCT
dem-11741	263	9	0.035	0.035	NUM
dem-11741	264	1	[	[	X
dem-11741	264	2	0.965	0.965	NUM
dem-11741	264	3	]	]	PUNCT
dem-11741	264	4	arch(1–5	arch(1–5	PROPN
dem-11741	264	5	)	)	PUNCT
dem-11741	264	6	0.128	0.128	NUM
dem-11741	265	1	[	[	X
dem-11741	265	2	0.986	0.986	NUM
dem-11741	265	3	]	]	X
dem-11741	265	4	arch(1–10	arch(1–10	PROPN
dem-11741	265	5	)	)	PUNCT
dem-11741	265	6	0.088	0.088	NUM
dem-11741	266	1	[	[	X
dem-11741	266	2	0.999	0.999	NUM
dem-11741	266	3	]	]	X
dem-11741	266	4	jarque	jarque	NOUN
dem-11741	266	5	-	-	PUNCT
dem-11741	266	6	bery	bery	NOUN
dem-11741	266	7	for	for	ADP
dem-11741	266	8	normality	normality	NOUN
dem-11741	266	9	27151	27151	NUM
dem-11741	266	10	[	[	X
dem-11741	266	11	0.000	0.000	X
dem-11741	266	12	]	]	X
dem-11741	266	13	joint	joint	ADJ
dem-11741	266	14	nyblom	nyblom	ADJ
dem-11741	266	15	test	test	NOUN
dem-11741	266	16	of	of	ADP
dem-11741	266	17	stability	stability	NOUN
dem-11741	266	18	1.2021	1.2021	NUM
dem-11741	266	19	nyblom	nyblom	NOUN
dem-11741	266	20	for	for	ADP
dem-11741	266	21	cst(m	cst(m	NOUN
dem-11741	266	22	)	)	PUNCT
dem-11741	266	23	0.1501	0.1501	NUM
dem-11741	266	24	nyblom	nyblom	X
dem-11741	266	25	for	for	ADP
dem-11741	266	26	vm	vm	PROPN
dem-11741	266	27	,	,	PUNCT
dem-11741	266	28	t_wig	t_wig	PROPN
dem-11741	266	29	0.0541	0.0541	NUM
dem-11741	266	30	nyblom	nyblom	NOUN
dem-11741	266	31	for	for	ADP
dem-11741	266	32	ar(1	ar(1	NOUN
dem-11741	266	33	)	)	PUNCT
dem-11741	266	34	0.0577	0.0577	NUM
dem-11741	266	35	nyblom	nyblom	NOUN
dem-11741	266	36	for	for	ADP
dem-11741	266	37	ma(1	ma(1	NOUN
dem-11741	266	38	)	)	PUNCT
dem-11741	266	39	0.0505	0.0505	NUM
dem-11741	266	40	nyblom	nyblom	NOUN
dem-11741	266	41	for	for	ADP
dem-11741	266	42	ma(2	ma(2	NOUN
dem-11741	266	43	)	)	PUNCT
dem-11741	266	44	0.0803	0.0803	NUM
dem-11741	266	45	nyblom	nyblom	X
dem-11741	266	46	for	for	ADP
dem-11741	266	47	cst(v	cst(v	PROPN
dem-11741	266	48	)	)	PUNCT
dem-11741	266	49	0.1432	0.1432	NUM
dem-11741	266	50	nyblom	nyblom	ADJ
dem-11741	266	51	for	for	ADP
dem-11741	266	52	arch1	arch1	PROPN
dem-11741	266	53	0.2187	0.2187	NUM
dem-11741	266	54	nyblom	nyblom	ADJ
dem-11741	266	55	for	for	ADP
dem-11741	266	56	garch1	garch1	PROPN
dem-11741	266	57	0.2149	0.2149	NUM
dem-11741	266	58	nyblom	nyblom	ADJ
dem-11741	266	59	for	for	ADP
dem-11741	266	60	df	df	NOUN
dem-11741	266	61	-	-	PUNCT
dem-11741	266	62	student	student	NOUN
dem-11741	266	63	0.0712	0.0712	NUM
dem-11741	266	64	sign	sign	NOUN
dem-11741	266	65	bias	bias	NOUN
dem-11741	266	66	test	test	NOUN
dem-11741	266	67	0.899	0.899	NUM
dem-11741	266	68	[	[	X
dem-11741	266	69	0.369	0.369	NUM
dem-11741	266	70	]	]	X
dem-11741	266	71	negative	negative	ADJ
dem-11741	266	72	sign	sign	NOUN
dem-11741	266	73	bias	bias	PROPN
dem-11741	266	74	test	test	NOUN
dem-11741	266	75	0.381	0.381	NUM
dem-11741	267	1	[	[	X
dem-11741	267	2	0.703	0.703	NUM
dem-11741	267	3	]	]	X
dem-11741	267	4	positive	positive	ADJ
dem-11741	267	5	sign	sign	NOUN
dem-11741	267	6	bias	bias	NOUN
dem-11741	267	7	test	test	NOUN
dem-11741	267	8	0.275	0.275	NUM
dem-11741	268	1	[	[	X
dem-11741	268	2	0.783	0.783	NUM
dem-11741	268	3	]	]	PUNCT
dem-11741	268	4	jointly	jointly	ADV
dem-11741	268	5	engle	engle	PROPN
dem-11741	268	6	–	–	PUNCT
dem-11741	268	7	ng	ng	PROPN
dem-11741	268	8	test	test	NOUN
dem-11741	268	9	2.227	2.227	NUM
dem-11741	268	10	[	[	X
dem-11741	268	11	0.527	0.527	NUM
dem-11741	268	12	]	]	PUNCT
dem-11741	268	13	note	note	NOUN
dem-11741	268	14	:	:	PUNCT
dem-11741	268	15	p	p	X
dem-11741	268	16	-	-	PUNCT
dem-11741	268	17	value	value	NOUN
dem-11741	268	18	in	in	ADP
dem-11741	268	19	brackets	bracket	NOUN
dem-11741	268	20	,	,	PUNCT
dem-11741	268	21	p	p	NOUN
dem-11741	268	22	-	-	PUNCT
dem-11741	268	23	value	value	NOUN
dem-11741	268	24	(	(	PUNCT
dem-11741	268	25	5	5	NUM
dem-11741	268	26	%	%	NOUN
dem-11741	268	27	)	)	PUNCT
dem-11741	269	1	=	=	SYM
dem-11741	269	2	0.47	0.47	NUM
dem-11741	269	3	for	for	ADP
dem-11741	269	4	individual	individual	ADJ
dem-11741	269	5	nyblom	nyblom	ADJ
dem-11741	269	6	test	test	NOUN
dem-11741	269	7	.	.	PUNCT
dem-11741	270	1	analysis	analysis	NOUN
dem-11741	270	2	of	of	ADP
dem-11741	270	3	the	the	DET
dem-11741	270	4	relationship	relationship	NOUN
dem-11741	270	5	between	between	ADP
dem-11741	270	6	market	market	NOUN
dem-11741	270	7	volatility	volatility	NOUN
dem-11741	270	8	and	and	CCONJ
dem-11741	270	9	firms	firm	NOUN
dem-11741	270	10	volatility	volatility	NOUN
dem-11741	270	11	…	…	SYM
dem-11741	270	12	dynamic	dynamic	ADJ
dem-11741	270	13	econometric	econometric	ADJ
dem-11741	270	14	models	model	NOUN
dem-11741	270	15	16	16	NUM
dem-11741	270	16	(	(	PUNCT
dem-11741	270	17	2016	2016	NUM
dem-11741	270	18	)	)	PUNCT
dem-11741	271	1	87–116	87–116	NUM
dem-11741	271	2	105	105	NUM
dem-11741	271	3	it	it	PRON
dem-11741	271	4	is	be	AUX
dem-11741	271	5	worth	worth	ADJ
dem-11741	271	6	emphasizing	emphasize	VERB
dem-11741	271	7	that	that	SCONJ
dem-11741	271	8	for	for	ADP
dem-11741	271	9	each	each	DET
dem-11741	271	10	estimated	estimate	VERB
dem-11741	271	11	model	model	NOUN
dem-11741	271	12	for	for	ADP
dem-11741	271	13	the	the	DET
dem-11741	271	14	mostostal	mostostal	ADJ
dem-11741	271	15	warszawa	warszawa	PROPN
dem-11741	271	16	company	company	NOUN
dem-11741	271	17	,	,	PUNCT
dem-11741	271	18	the	the	DET
dem-11741	271	19	parameters	parameter	NOUN
dem-11741	271	20	indicating	indicate	VERB
dem-11741	271	21	the	the	DET
dem-11741	271	22	strength	strength	NOUN
dem-11741	271	23	and	and	CCONJ
dem-11741	271	24	direction	direction	NOUN
dem-11741	271	25	of	of	ADP
dem-11741	271	26	dependencies	dependency	NOUN
dem-11741	271	27	between	between	ADP
dem-11741	271	28	enterprise	enterprise	NOUN
dem-11741	271	29	volatility	volatility	NOUN
dem-11741	271	30	and	and	CCONJ
dem-11741	271	31	market	market	NOUN
dem-11741	271	32	volatility	volatility	NOUN
dem-11741	271	33	was	be	AUX
dem-11741	271	34	statistically	statistically	ADV
dem-11741	271	35	insignificant	insignificant	ADJ
dem-11741	271	36	.	.	PUNCT
dem-11741	272	1	the	the	DET
dem-11741	272	2	results	result	NOUN
dem-11741	272	3	summarizing	summarize	VERB
dem-11741	272	4	estimation	estimation	NOUN
dem-11741	272	5	of	of	ADP
dem-11741	272	6	arfimax	arfimax	ADJ
dem-11741	272	7	-	-	PUNCT
dem-11741	272	8	figarch	figarch	NOUN
dem-11741	272	9	class	class	NOUN
dem-11741	272	10	models	model	NOUN
dem-11741	272	11	with	with	ADP
dem-11741	272	12	included	include	VERB
dem-11741	272	13	variables	variable	NOUN
dem-11741	272	14	describing	describe	VERB
dem-11741	272	15	volatility	volatility	NOUN
dem-11741	272	16	of	of	ADP
dem-11741	272	17	the	the	DET
dem-11741	272	18	stock	stock	NOUN
dem-11741	272	19	market	market	NOUN
dem-11741	272	20	for	for	ADP
dem-11741	272	21	particular	particular	ADJ
dem-11741	272	22	companies	company	NOUN
dem-11741	272	23	from	from	ADP
dem-11741	272	24	the	the	DET
dem-11741	272	25	construction	construction	NOUN
dem-11741	272	26	sector	sector	NOUN
dem-11741	272	27	in	in	ADP
dem-11741	272	28	the	the	DET
dem-11741	272	29	stable	stable	ADJ
dem-11741	272	30	period	period	NOUN
dem-11741	272	31	and	and	CCONJ
dem-11741	272	32	turbulent	turbulent	ADJ
dem-11741	272	33	period	period	NOUN
dem-11741	272	34	have	have	AUX
dem-11741	272	35	been	be	AUX
dem-11741	272	36	presented	present	VERB
dem-11741	272	37	in	in	ADP
dem-11741	272	38	tables	table	NOUN
dem-11741	272	39	5–6	5–6	VERB
dem-11741	272	40	.	.	PUNCT
dem-11741	273	1	the	the	DET
dem-11741	273	2	analysis	analysis	NOUN
dem-11741	273	3	of	of	ADP
dem-11741	273	4	data	datum	NOUN
dem-11741	273	5	included	include	VERB
dem-11741	273	6	in	in	ADP
dem-11741	273	7	table	table	NOUN
dem-11741	273	8	5	5	NUM
dem-11741	273	9	allows	allow	VERB
dem-11741	273	10	us	we	PRON
dem-11741	273	11	to	to	PART
dem-11741	273	12	formulate	formulate	VERB
dem-11741	273	13	the	the	DET
dem-11741	273	14	following	following	ADJ
dem-11741	273	15	conclusions	conclusion	NOUN
dem-11741	273	16	.	.	PUNCT
dem-11741	274	1	in	in	ADP
dem-11741	274	2	case	case	NOUN
dem-11741	274	3	of	of	ADP
dem-11741	274	4	energopol	energopol	NOUN
dem-11741	274	5	-	-	PUNCT
dem-11741	274	6	południe	południe	PROPN
dem-11741	274	7	and	and	CCONJ
dem-11741	274	8	budopol	budopol	NOUN
dem-11741	274	9	-	-	PUNCT
dem-11741	274	10	wrocław	wrocław	ADJ
dem-11741	274	11	enterprises	enterprise	NOUN
dem-11741	274	12	the	the	DET
dem-11741	274	13	relationship	relationship	NOUN
dem-11741	274	14	between	between	ADP
dem-11741	274	15	the	the	DET
dem-11741	274	16	market	market	NOUN
dem-11741	274	17	volatility	volatility	NOUN
dem-11741	274	18	and	and	CCONJ
dem-11741	274	19	volatility	volatility	NOUN
dem-11741	274	20	of	of	ADP
dem-11741	274	21	their	their	PRON
dem-11741	274	22	share	share	NOUN
dem-11741	274	23	prices	price	NOUN
dem-11741	274	24	was	be	AUX
dem-11741	274	25	statistically	statistically	ADV
dem-11741	274	26	insignificant	insignificant	ADJ
dem-11741	274	27	.	.	PUNCT
dem-11741	275	1	for	for	ADP
dem-11741	275	2	the	the	DET
dem-11741	275	3	remaining	remain	VERB
dem-11741	275	4	enterprises	enterprise	NOUN
dem-11741	275	5	the	the	DET
dem-11741	275	6	relationship	relationship	NOUN
dem-11741	275	7	between	between	ADP
dem-11741	275	8	the	the	DET
dem-11741	275	9	wig	wig	NOUN
dem-11741	275	10	index	index	NOUN
dem-11741	275	11	volatility	volatility	NOUN
dem-11741	275	12	and	and	CCONJ
dem-11741	275	13	firms	firm	NOUN
dem-11741	275	14	volatility	volatility	NOUN
dem-11741	275	15	was	be	AUX
dem-11741	275	16	statistically	statistically	ADV
dem-11741	275	17	significant	significant	ADJ
dem-11741	275	18	and	and	CCONJ
dem-11741	275	19	positive	positive	ADJ
dem-11741	275	20	.	.	PUNCT
dem-11741	276	1	all	all	DET
dem-11741	276	2	additional	additional	ADJ
dem-11741	276	3	variables	variable	NOUN
dem-11741	276	4	describing	describe	VERB
dem-11741	276	5	market	market	NOUN
dem-11741	276	6	volatility	volatility	NOUN
dem-11741	276	7	(	(	PUNCT
dem-11741	276	8	vm	vm	PROPN
dem-11741	276	9	,	,	PUNCT
dem-11741	276	10	t-1_wig	t-1_wig	PROPN
dem-11741	276	11	,	,	PUNCT
dem-11741	276	12	rm	rm	PROPN
dem-11741	276	13	,	,	PUNCT
dem-11741	276	14	t	t	PROPN
dem-11741	276	15	,	,	PUNCT
dem-11741	276	16	rm	rm	PROPN
dem-11741	276	17	,	,	PUNCT
dem-11741	276	18	t	t	PROPN
dem-11741	276	19	2	2	NUM
dem-11741	276	20	)	)	PUNCT
dem-11741	276	21	turned	turn	VERB
dem-11741	276	22	out	out	ADP
dem-11741	276	23	to	to	PART
dem-11741	276	24	be	be	AUX
dem-11741	276	25	statistically	statistically	ADV
dem-11741	276	26	insignificant	insignificant	ADJ
dem-11741	276	27	in	in	ADP
dem-11741	276	28	case	case	NOUN
dem-11741	276	29	of	of	ADP
dem-11741	276	30	all	all	DET
dem-11741	276	31	estimated	estimate	VERB
dem-11741	276	32	models	model	NOUN
dem-11741	276	33	.	.	PUNCT
dem-11741	277	1	table	table	NOUN
dem-11741	277	2	5	5	NUM
dem-11741	277	3	.	.	PUNCT
dem-11741	277	4	results	result	NOUN
dem-11741	277	5	on	on	ADP
dem-11741	277	6	commonality	commonality	NOUN
dem-11741	277	7	in	in	ADP
dem-11741	277	8	volatility	volatility	NOUN
dem-11741	277	9	for	for	ADP
dem-11741	277	10	construction	construction	NOUN
dem-11741	277	11	sector	sector	NOUN
dem-11741	277	12	in	in	ADP
dem-11741	277	13	stable	stable	ADJ
dem-11741	277	14	period	period	NOUN
dem-11741	277	15	company	company	NOUN
dem-11741	277	16	model	model	NOUN
dem-11741	277	17	specification	specification	NOUN
dem-11741	277	18	estimate	estimate	NOUN
dem-11741	277	19	of	of	ADP
dem-11741	277	20	vm	vm	PROPN
dem-11741	277	21	,	,	PUNCT
dem-11741	277	22	t_wig	t_wig	DET
dem-11741	277	23	parameter	parameter	NOUN
dem-11741	277	24	significance	significance	NOUN
dem-11741	277	25	of	of	ADP
dem-11741	277	26	the	the	DET
dem-11741	277	27	influence	influence	NOUN
dem-11741	277	28	of	of	ADP
dem-11741	277	29	others	other	NOUN
dem-11741	277	30	market	market	NOUN
dem-11741	277	31	variables	variable	NOUN
dem-11741	277	32	(	(	PUNCT
dem-11741	277	33	vm	vm	PROPN
dem-11741	277	34	,	,	PUNCT
dem-11741	277	35	t-1_wig	t-1_wig	PROPN
dem-11741	277	36	,	,	PUNCT
dem-11741	277	37	rm	rm	PROPN
dem-11741	277	38	,	,	PUNCT
dem-11741	277	39	t	t	PROPN
dem-11741	277	40	,	,	PUNCT
dem-11741	277	41	rm	rm	PROPN
dem-11741	277	42	,	,	PUNCT
dem-11741	277	43	t	t	PROPN
dem-11741	277	44	2	2	NUM
dem-11741	277	45	)	)	PUNCT
dem-11741	277	46	on	on	ADP
dem-11741	277	47	firm	firm	ADJ
dem-11741	277	48	volatility	volatility	NOUN
dem-11741	277	49	mostostal	mostostal	NOUN
dem-11741	277	50	export	export	NOUN
dem-11741	277	51	(	(	PUNCT
dem-11741	277	52	msx	msx	NOUN
dem-11741	277	53	)	)	PUNCT
dem-11741	277	54	armax(1,1)figarch(1,0.54,1	armax(1,1)figarch(1,0.54,1	ADV
dem-11741	277	55	)	)	PUNCT
dem-11741	277	56	,	,	PUNCT
dem-11741	277	57	t	t	PROPN
dem-11741	277	58	-	-	PUNCT
dem-11741	277	59	student	student	NOUN
dem-11741	277	60	distribution	distribution	NOUN
dem-11741	277	61	2.069	2.069	NUM
dem-11741	277	62	[	[	X
dem-11741	277	63	0.000	0.000	NUM
dem-11741	277	64	]	]	X
dem-11741	277	65	all	all	DET
dem-11741	277	66	additional	additional	ADJ
dem-11741	277	67	market	market	NOUN
dem-11741	277	68	variables	variable	NOUN
dem-11741	277	69	have	have	VERB
dem-11741	277	70	statistically	statistically	ADV
dem-11741	277	71	insignificant	insignificant	ADJ
dem-11741	277	72	impact	impact	NOUN
dem-11741	277	73	on	on	ADP
dem-11741	277	74	the	the	DET
dem-11741	277	75	firm	firm	ADJ
dem-11741	277	76	volatility	volatility	NOUN
dem-11741	277	77	–	–	PUNCT
dem-11741	277	78	elimination	elimination	NOUN
dem-11741	277	79	from	from	ADP
dem-11741	277	80	the	the	DET
dem-11741	277	81	model	model	NOUN
dem-11741	277	82	prochem	prochem	NOUN
dem-11741	277	83	(	(	PUNCT
dem-11741	277	84	prm	prm	PROPN
dem-11741	277	85	)	)	PUNCT
dem-11741	277	86	arfimax(1,0.121,1	arfimax(1,0.121,1	VERB
dem-11741	277	87	)	)	PUNCT
dem-11741	278	1	garch(1	garch(1	NOUN
dem-11741	278	2	,	,	PUNCT
dem-11741	278	3	1	1	NUM
dem-11741	278	4	)	)	PUNCT
dem-11741	278	5	,	,	PUNCT
dem-11741	278	6	t	t	PROPN
dem-11741	278	7	-	-	PUNCT
dem-11741	278	8	student	student	NOUN
dem-11741	278	9	distribution	distribution	NOUN
dem-11741	278	10	0.390	0.390	NUM
dem-11741	278	11	[	[	X
dem-11741	278	12	0.005	0.005	NUM
dem-11741	278	13	]	]	PUNCT
dem-11741	278	14	all	all	DET
dem-11741	278	15	additional	additional	ADJ
dem-11741	278	16	market	market	NOUN
dem-11741	278	17	variables	variable	NOUN
dem-11741	278	18	have	have	VERB
dem-11741	278	19	statistically	statistically	ADV
dem-11741	278	20	insignificant	insignificant	ADJ
dem-11741	278	21	impact	impact	NOUN
dem-11741	278	22	on	on	ADP
dem-11741	278	23	the	the	DET
dem-11741	278	24	firm	firm	ADJ
dem-11741	278	25	volatility	volatility	NOUN
dem-11741	278	26	–	–	PUNCT
dem-11741	278	27	elimination	elimination	NOUN
dem-11741	278	28	from	from	ADP
dem-11741	278	29	the	the	DET
dem-11741	278	30	model	model	NOUN
dem-11741	278	31	mostostal	mostostal	PROPN
dem-11741	278	32	zabrze	zabrze	PROPN
dem-11741	278	33	holding	holding	NOUN
dem-11741	278	34	(	(	PUNCT
dem-11741	278	35	msz	msz	NOUN
dem-11741	278	36	)	)	PUNCT
dem-11741	278	37	arfimax(1,0.049,1	arfimax(1,0.049,1	NOUN
dem-11741	278	38	)	)	PUNCT
dem-11741	278	39	garch(1	garch(1	VERB
dem-11741	278	40	,	,	PUNCT
dem-11741	278	41	1	1	NUM
dem-11741	278	42	)	)	PUNCT
dem-11741	278	43	,	,	PUNCT
dem-11741	278	44	t	t	PROPN
dem-11741	278	45	-	-	PUNCT
dem-11741	278	46	student	student	NOUN
dem-11741	278	47	distribution	distribution	NOUN
dem-11741	278	48	1.191	1.191	NUM
dem-11741	278	49	[	[	X
dem-11741	278	50	0.013	0.013	NUM
dem-11741	278	51	]	]	X
dem-11741	278	52	all	all	DET
dem-11741	278	53	additional	additional	ADJ
dem-11741	278	54	market	market	NOUN
dem-11741	278	55	variables	variable	NOUN
dem-11741	278	56	have	have	VERB
dem-11741	278	57	statistically	statistically	ADV
dem-11741	278	58	insignificant	insignificant	ADJ
dem-11741	278	59	impact	impact	NOUN
dem-11741	278	60	on	on	ADP
dem-11741	278	61	the	the	DET
dem-11741	278	62	firm	firm	ADJ
dem-11741	278	63	volatility	volatility	NOUN
dem-11741	278	64	–	–	PUNCT
dem-11741	278	65	elimination	elimination	NOUN
dem-11741	278	66	from	from	ADP
dem-11741	278	67	the	the	DET
dem-11741	278	68	model	model	NOUN
dem-11741	278	69	budimex	budimex	NOUN
dem-11741	278	70	(	(	PUNCT
dem-11741	278	71	bdx	bdx	NOUN
dem-11741	278	72	)	)	PUNCT
dem-11741	278	73	arfimax(1,0.021,1	arfimax(1,0.021,1	ADV
dem-11741	278	74	)	)	PUNCT
dem-11741	278	75	garch(1	garch(1	NOUN
dem-11741	278	76	,	,	PUNCT
dem-11741	278	77	1	1	NUM
dem-11741	278	78	)	)	PUNCT
dem-11741	278	79	,	,	PUNCT
dem-11741	278	80	skewed	skewed	PROPN
dem-11741	278	81	t	t	PROPN
dem-11741	278	82	-	-	PUNCT
dem-11741	278	83	student	student	NOUN
dem-11741	278	84	distribution	distribution	NOUN
dem-11741	278	85	0.090	0.090	NUM
dem-11741	279	1	[	[	X
dem-11741	279	2	0.006	0.006	NUM
dem-11741	279	3	]	]	PUNCT
dem-11741	279	4	all	all	DET
dem-11741	279	5	additional	additional	ADJ
dem-11741	279	6	market	market	NOUN
dem-11741	279	7	variables	variable	NOUN
dem-11741	279	8	have	have	VERB
dem-11741	279	9	statistically	statistically	ADV
dem-11741	279	10	insignificant	insignificant	ADJ
dem-11741	279	11	impact	impact	NOUN
dem-11741	279	12	on	on	ADP
dem-11741	279	13	the	the	DET
dem-11741	279	14	firm	firm	ADJ
dem-11741	279	15	volatility	volatility	NOUN
dem-11741	279	16	–	–	PUNCT
dem-11741	279	17	elimination	elimination	NOUN
dem-11741	279	18	from	from	ADP
dem-11741	279	19	the	the	DET
dem-11741	279	20	model	model	NOUN
dem-11741	279	21	elektrobudowa	elektrobudowa	NOUN
dem-11741	279	22	(	(	PUNCT
dem-11741	279	23	elb	elb	PROPN
dem-11741	279	24	)	)	PUNCT
dem-11741	279	25	arfimax(1,0.105,1	arfimax(1,0.105,1	PROPN
dem-11741	279	26	)	)	PUNCT
dem-11741	279	27	garch(1	garch(1	NOUN
dem-11741	279	28	,	,	PUNCT
dem-11741	279	29	1	1	NUM
dem-11741	279	30	)	)	PUNCT
dem-11741	279	31	,	,	PUNCT
dem-11741	279	32	t	t	PROPN
dem-11741	279	33	-	-	PUNCT
dem-11741	279	34	student	student	NOUN
dem-11741	279	35	distribution	distribution	NOUN
dem-11741	279	36	0.677	0.677	NUM
dem-11741	280	1	[	[	X
dem-11741	280	2	0.010	0.010	NUM
dem-11741	280	3	]	]	X
dem-11741	280	4	all	all	DET
dem-11741	280	5	additional	additional	ADJ
dem-11741	280	6	market	market	NOUN
dem-11741	280	7	variables	variable	NOUN
dem-11741	280	8	have	have	VERB
dem-11741	280	9	statistically	statistically	ADV
dem-11741	280	10	insignificant	insignificant	ADJ
dem-11741	280	11	impact	impact	NOUN
dem-11741	280	12	on	on	ADP
dem-11741	280	13	the	the	DET
dem-11741	280	14	firm	firm	ADJ
dem-11741	280	15	volatility	volatility	NOUN
dem-11741	280	16	–	–	PUNCT
dem-11741	280	17	elimination	elimination	NOUN
dem-11741	280	18	from	from	ADP
dem-11741	280	19	the	the	DET
dem-11741	280	20	model	model	NOUN
dem-11741	280	21	energoaparatura	energoaparatura	NOUN
dem-11741	280	22	(	(	PUNCT
dem-11741	280	23	enp	enp	PROPN
dem-11741	280	24	)	)	PUNCT
dem-11741	280	25	arfimax(1,0.086,0	arfimax(1,0.086,0	NOUN
dem-11741	280	26	)	)	PUNCT
dem-11741	280	27	arch(1	arch(1	PROPN
dem-11741	280	28	)	)	PUNCT
dem-11741	280	29	,	,	PUNCT
dem-11741	280	30	t	t	PROPN
dem-11741	280	31	-	-	PUNCT
dem-11741	280	32	student	student	NOUN
dem-11741	280	33	distribution	distribution	NOUN
dem-11741	280	34	0.539	0.539	NUM
dem-11741	280	35	[	[	X
dem-11741	280	36	0.022	0.022	NUM
dem-11741	280	37	]	]	X
dem-11741	280	38	all	all	DET
dem-11741	280	39	additional	additional	ADJ
dem-11741	280	40	market	market	NOUN
dem-11741	280	41	variables	variable	NOUN
dem-11741	280	42	have	have	VERB
dem-11741	280	43	statistically	statistically	ADV
dem-11741	280	44	insignificant	insignificant	ADJ
dem-11741	280	45	impact	impact	NOUN
dem-11741	280	46	on	on	ADP
dem-11741	280	47	the	the	DET
dem-11741	280	48	firm	firm	ADJ
dem-11741	280	49	volatility	volatility	NOUN
dem-11741	280	50	–	–	PUNCT
dem-11741	280	51	elimination	elimination	NOUN
dem-11741	280	52	from	from	ADP
dem-11741	280	53	the	the	DET
dem-11741	280	54	model	model	NOUN
dem-11741	280	55	energopol	energopol	NOUN
dem-11741	280	56	południe	południe	PROPN
dem-11741	280	57	(	(	PUNCT
dem-11741	280	58	epl	epl	PROPN
dem-11741	280	59	)	)	PUNCT
dem-11741	280	60	arfimax(1,0.185,1	arfimax(1,0.185,1	PROPN
dem-11741	280	61	)	)	PUNCT
dem-11741	281	1	garch(1	garch(1	NOUN
dem-11741	281	2	,	,	PUNCT
dem-11741	281	3	1	1	NUM
dem-11741	281	4	)	)	PUNCT
dem-11741	281	5	,	,	PUNCT
dem-11741	281	6	t	t	PROPN
dem-11741	281	7	-	-	PUNCT
dem-11741	281	8	student	student	NOUN
dem-11741	281	9	distribution	distribution	NOUN
dem-11741	281	10	0.075	0.075	NUM
dem-11741	281	11	[	[	X
dem-11741	281	12	0.410	0.410	NUM
dem-11741	281	13	]	]	X
dem-11741	281	14	all	all	DET
dem-11741	281	15	additional	additional	ADJ
dem-11741	281	16	market	market	NOUN
dem-11741	281	17	variables	variable	NOUN
dem-11741	281	18	have	have	VERB
dem-11741	281	19	statistically	statistically	ADV
dem-11741	281	20	insignificant	insignificant	ADJ
dem-11741	281	21	impact	impact	NOUN
dem-11741	281	22	on	on	ADP
dem-11741	281	23	the	the	DET
dem-11741	281	24	firm	firm	ADJ
dem-11741	281	25	volatility	volatility	NOUN
dem-11741	281	26	–	–	PUNCT
dem-11741	281	27	elimination	elimination	NOUN
dem-11741	281	28	from	from	ADP
dem-11741	281	29	the	the	DET
dem-11741	281	30	model	model	NOUN
dem-11741	281	31	włodarczyk	włodarczyk	PROPN
dem-11741	281	32	,	,	PUNCT
dem-11741	281	33	otola	otola	PROPN
dem-11741	281	34	dynamic	dynamic	ADJ
dem-11741	281	35	econometric	econometric	ADJ
dem-11741	281	36	models	model	NOUN
dem-11741	281	37	16	16	NUM
dem-11741	281	38	(	(	PUNCT
dem-11741	281	39	2016	2016	NUM
dem-11741	281	40	)	)	PUNCT
dem-11741	281	41	87–116	87–116	NUM
dem-11741	281	42	106	106	NUM
dem-11741	281	43	table	table	NOUN
dem-11741	281	44	5	5	NUM
dem-11741	281	45	.	.	PUNCT
dem-11741	281	46	continued	continue	VERB
dem-11741	281	47	company	company	NOUN
dem-11741	281	48	model	model	NOUN
dem-11741	281	49	specification	specification	NOUN
dem-11741	281	50	estimate	estimate	NOUN
dem-11741	281	51	of	of	ADP
dem-11741	281	52	vm	vm	PROPN
dem-11741	281	53	,	,	PUNCT
dem-11741	281	54	t_wig	t_wig	PRON
dem-11741	281	55	parameter	parameter	NOUN
dem-11741	281	56	significance	significance	NOUN
dem-11741	281	57	of	of	ADP
dem-11741	281	58	the	the	DET
dem-11741	281	59	influence	influence	NOUN
dem-11741	281	60	of	of	ADP
dem-11741	281	61	others	other	NOUN
dem-11741	281	62	market	market	NOUN
dem-11741	281	63	variables	variable	NOUN
dem-11741	281	64	(	(	PUNCT
dem-11741	281	65	vm	vm	PROPN
dem-11741	281	66	,	,	PUNCT
dem-11741	281	67	t-1_wig	t-1_wig	PROPN
dem-11741	281	68	,	,	PUNCT
dem-11741	281	69	rm	rm	PROPN
dem-11741	281	70	,	,	PUNCT
dem-11741	281	71	t	t	PROPN
dem-11741	281	72	,	,	PUNCT
dem-11741	281	73	rm	rm	PROPN
dem-11741	281	74	,	,	PUNCT
dem-11741	281	75	t	t	PROPN
dem-11741	281	76	2	2	NUM
dem-11741	281	77	)	)	PUNCT
dem-11741	281	78	on	on	ADP
dem-11741	281	79	firm	firm	ADJ
dem-11741	281	80	volatility	volatility	NOUN
dem-11741	281	81	projprzem	projprzem	NOUN
dem-11741	281	82	(	(	PUNCT
dem-11741	281	83	pjp	pjp	ADJ
dem-11741	281	84	)	)	PUNCT
dem-11741	281	85	arfimax(1,0.027,0	arfimax(1,0.027,0	PROPN
dem-11741	281	86	)	)	PUNCT
dem-11741	281	87	arch(1	arch(1	PROPN
dem-11741	281	88	)	)	PUNCT
dem-11741	281	89	,	,	PUNCT
dem-11741	281	90	t	t	PROPN
dem-11741	281	91	-	-	PUNCT
dem-11741	281	92	student	student	NOUN
dem-11741	281	93	distribution	distribution	NOUN
dem-11741	281	94	0.167	0.167	NUM
dem-11741	281	95	[	[	X
dem-11741	281	96	0.003	0.003	NUM
dem-11741	281	97	]	]	X
dem-11741	281	98	all	all	DET
dem-11741	281	99	additional	additional	ADJ
dem-11741	281	100	market	market	NOUN
dem-11741	281	101	variables	variable	NOUN
dem-11741	281	102	have	have	VERB
dem-11741	281	103	statistically	statistically	ADV
dem-11741	281	104	insignificant	insignificant	ADJ
dem-11741	281	105	impact	impact	NOUN
dem-11741	281	106	on	on	ADP
dem-11741	281	107	the	the	DET
dem-11741	281	108	firm	firm	ADJ
dem-11741	281	109	volatility	volatility	NOUN
dem-11741	281	110	–	–	PUNCT
dem-11741	281	111	elimination	elimination	NOUN
dem-11741	281	112	from	from	ADP
dem-11741	281	113	the	the	DET
dem-11741	281	114	model	model	NOUN
dem-11741	281	115	elkop	elkop	X
dem-11741	281	116	(	(	PUNCT
dem-11741	281	117	ekp	ekp	NOUN
dem-11741	281	118	)	)	PUNCT
dem-11741	281	119	armax(1,1	armax(1,1	NOUN
dem-11741	281	120	)	)	PUNCT
dem-11741	282	1	garch(1	garch(1	NOUN
dem-11741	282	2	,	,	PUNCT
dem-11741	282	3	1	1	NUM
dem-11741	282	4	)	)	PUNCT
dem-11741	282	5	,	,	PUNCT
dem-11741	282	6	t	t	PROPN
dem-11741	282	7	-	-	PUNCT
dem-11741	282	8	student	student	NOUN
dem-11741	282	9	distribution	distribution	NOUN
dem-11741	282	10	0.023	0.023	NUM
dem-11741	282	11	[	[	X
dem-11741	282	12	0.018	0.018	NUM
dem-11741	282	13	]	]	PUNCT
dem-11741	282	14	all	all	DET
dem-11741	282	15	additional	additional	ADJ
dem-11741	282	16	market	market	NOUN
dem-11741	282	17	variables	variable	NOUN
dem-11741	282	18	have	have	VERB
dem-11741	282	19	statistically	statistically	ADV
dem-11741	282	20	insignificant	insignificant	ADJ
dem-11741	282	21	impact	impact	NOUN
dem-11741	282	22	on	on	ADP
dem-11741	282	23	the	the	DET
dem-11741	282	24	firm	firm	ADJ
dem-11741	282	25	volatility	volatility	NOUN
dem-11741	282	26	–	–	PUNCT
dem-11741	282	27	elimination	elimination	NOUN
dem-11741	282	28	from	from	ADP
dem-11741	282	29	the	the	DET
dem-11741	282	30	model	model	NOUN
dem-11741	282	31	ulma	ulma	PROPN
dem-11741	282	32	construccion	construccion	PROPN
dem-11741	282	33	polska	polska	PROPN
dem-11741	282	34	(	(	PUNCT
dem-11741	282	35	ulm	ulm	PROPN
dem-11741	282	36	)	)	PUNCT
dem-11741	282	37	arfimax(0,0.06,1	arfimax(0,0.06,1	PROPN
dem-11741	282	38	)	)	PUNCT
dem-11741	282	39	figarch(1,0.57,1	figarch(1,0.57,1	NOUN
dem-11741	282	40	)	)	PUNCT
dem-11741	282	41	,	,	PUNCT
dem-11741	282	42	t	t	PROPN
dem-11741	282	43	-	-	PUNCT
dem-11741	282	44	student	student	NOUN
dem-11741	282	45	distribution	distribution	NOUN
dem-11741	282	46	0.041	0.041	NUM
dem-11741	282	47	[	[	X
dem-11741	282	48	0.355	0.355	NUM
dem-11741	282	49	]	]	X
dem-11741	282	50	all	all	DET
dem-11741	282	51	additional	additional	ADJ
dem-11741	282	52	market	market	NOUN
dem-11741	282	53	variables	variable	NOUN
dem-11741	282	54	have	have	VERB
dem-11741	282	55	statistically	statistically	ADV
dem-11741	282	56	insignificant	insignificant	ADJ
dem-11741	282	57	impact	impact	NOUN
dem-11741	282	58	on	on	ADP
dem-11741	282	59	the	the	DET
dem-11741	282	60	firm	firm	ADJ
dem-11741	282	61	volatility	volatility	NOUN
dem-11741	282	62	–	–	PUNCT
dem-11741	282	63	elimination	elimination	NOUN
dem-11741	282	64	from	from	ADP
dem-11741	282	65	the	the	DET
dem-11741	282	66	model	model	NOUN
dem-11741	282	67	energomontaż	energomontaż	NOUN
dem-11741	282	68	-	-	PUNCT
dem-11741	282	69	południe	południe	NOUN
dem-11741	282	70	(	(	PUNCT
dem-11741	282	71	edp	edp	NOUN
dem-11741	282	72	)	)	PUNCT
dem-11741	282	73	arfimax(1,0.042,1)garch(1,1	arfimax(1,0.042,1)garch(1,1	PROPN
dem-11741	282	74	)	)	PUNCT
dem-11741	282	75	,	,	PUNCT
dem-11741	282	76	t	t	PROPN
dem-11741	282	77	-	-	PUNCT
dem-11741	282	78	student	student	NOUN
dem-11741	282	79	distribution	distribution	NOUN
dem-11741	282	80	0.815	0.815	NUM
dem-11741	282	81	[	[	X
dem-11741	282	82	0.045	0.045	NUM
dem-11741	282	83	]	]	PUNCT
dem-11741	282	84	all	all	DET
dem-11741	282	85	additional	additional	ADJ
dem-11741	282	86	market	market	NOUN
dem-11741	282	87	variables	variable	NOUN
dem-11741	282	88	have	have	VERB
dem-11741	282	89	statistically	statistically	ADV
dem-11741	282	90	insignificant	insignificant	ADJ
dem-11741	282	91	impact	impact	NOUN
dem-11741	282	92	on	on	ADP
dem-11741	282	93	the	the	DET
dem-11741	282	94	firm	firm	ADJ
dem-11741	282	95	volatility	volatility	NOUN
dem-11741	282	96	–	–	PUNCT
dem-11741	282	97	elimination	elimination	NOUN
dem-11741	282	98	from	from	ADP
dem-11741	282	99	the	the	DET
dem-11741	282	100	model	model	NOUN
dem-11741	282	101	mostostal	mostostal	PROPN
dem-11741	282	102	płock	płock	NOUN
dem-11741	282	103	(	(	PUNCT
dem-11741	282	104	msp	msp	PROPN
dem-11741	282	105	)	)	PUNCT
dem-11741	282	106	arx(2)-garch(1,1	arx(2)-garch(1,1	PROPN
dem-11741	282	107	)	)	PUNCT
dem-11741	282	108	,	,	PUNCT
dem-11741	282	109	t	t	PROPN
dem-11741	282	110	-	-	PUNCT
dem-11741	282	111	student	student	NOUN
dem-11741	282	112	distribution	distribution	NOUN
dem-11741	282	113	3.642	3.642	NUM
dem-11741	282	114	[	[	X
dem-11741	282	115	0.000	0.000	X
dem-11741	282	116	]	]	X
dem-11741	282	117	rm	rm	PROPN
dem-11741	282	118	,	,	PUNCT
dem-11741	282	119	t	t	PROPN
dem-11741	282	120	:	:	PUNCT
dem-11741	282	121	0.081	0.081	NUM
dem-11741	282	122	[	[	X
dem-11741	282	123	0.027	0.027	NUM
dem-11741	282	124	]	]	X
dem-11741	282	125	rm	rm	PROPN
dem-11741	282	126	,	,	PUNCT
dem-11741	282	127	t	t	PROPN
dem-11741	282	128	2	2	NUM
dem-11741	282	129	:	:	PUNCT
dem-11741	282	130	–	–	PUNCT
dem-11741	282	131	0.069	0.069	NUM
dem-11741	282	132	[	[	X
dem-11741	282	133	0.001	0.001	NUM
dem-11741	282	134	]	]	X
dem-11741	282	135	budopolwrocław	budopolwrocław	PROPN
dem-11741	282	136	(	(	PUNCT
dem-11741	282	137	bdl	bdl	PROPN
dem-11741	282	138	)	)	PUNCT
dem-11741	282	139	arfimax(0,0.06,1	arfimax(0,0.06,1	PROPN
dem-11741	282	140	)	)	PUNCT
dem-11741	282	141	figarch(1,0.79,1	figarch(1,0.79,1	PROPN
dem-11741	282	142	)	)	PUNCT
dem-11741	282	143	,	,	PUNCT
dem-11741	282	144	t	t	PROPN
dem-11741	282	145	-	-	PUNCT
dem-11741	282	146	student	student	NOUN
dem-11741	282	147	distribution	distribution	NOUN
dem-11741	282	148	0.024	0.024	NUM
dem-11741	282	149	[	[	X
dem-11741	282	150	0.283	0.283	NUM
dem-11741	282	151	]	]	X
dem-11741	282	152	all	all	DET
dem-11741	282	153	additional	additional	ADJ
dem-11741	282	154	market	market	NOUN
dem-11741	282	155	variables	variable	NOUN
dem-11741	282	156	have	have	VERB
dem-11741	282	157	statistically	statistically	ADV
dem-11741	282	158	insignificant	insignificant	ADJ
dem-11741	282	159	impact	impact	NOUN
dem-11741	282	160	on	on	ADP
dem-11741	282	161	the	the	DET
dem-11741	282	162	firm	firm	ADJ
dem-11741	282	163	volatility	volatility	NOUN
dem-11741	282	164	–	–	PUNCT
dem-11741	282	165	elimination	elimination	NOUN
dem-11741	282	166	from	from	ADP
dem-11741	282	167	the	the	DET
dem-11741	282	168	model	model	NOUN
dem-11741	282	169	awbud	awbud	PROPN
dem-11741	282	170	(	(	PUNCT
dem-11741	282	171	awb	awb	NOUN
dem-11741	282	172	)	)	PUNCT
dem-11741	282	173	arfimax(0,0.06,1	arfimax(0,0.06,1	ADJ
dem-11741	282	174	)	)	PUNCT
dem-11741	282	175	garch(1,1	garch(1,1	NOUN
dem-11741	282	176	)	)	PUNCT
dem-11741	282	177	,	,	PUNCT
dem-11741	282	178	t	t	PROPN
dem-11741	282	179	-	-	PUNCT
dem-11741	282	180	student	student	NOUN
dem-11741	282	181	distribution	distribution	NOUN
dem-11741	282	182	0.921	0.921	NUM
dem-11741	282	183	[	[	NOUN
dem-11741	282	184	0.005	0.005	NUM
dem-11741	282	185	]	]	PUNCT
dem-11741	282	186	all	all	DET
dem-11741	282	187	additional	additional	ADJ
dem-11741	282	188	market	market	NOUN
dem-11741	282	189	variables	variable	NOUN
dem-11741	282	190	have	have	VERB
dem-11741	282	191	statistically	statistically	ADV
dem-11741	282	192	insignificant	insignificant	ADJ
dem-11741	282	193	impact	impact	NOUN
dem-11741	282	194	on	on	ADP
dem-11741	282	195	the	the	DET
dem-11741	282	196	firm	firm	ADJ
dem-11741	282	197	volatility	volatility	NOUN
dem-11741	282	198	–	–	PUNCT
dem-11741	282	199	elimination	elimination	NOUN
dem-11741	282	200	from	from	ADP
dem-11741	282	201	the	the	DET
dem-11741	282	202	model	model	NOUN
dem-11741	282	203	pemug	pemug	PROPN
dem-11741	282	204	(	(	PUNCT
dem-11741	282	205	pmg	pmg	PROPN
dem-11741	282	206	)	)	PUNCT
dem-11741	282	207	arx(2)-garch(1,1	arx(2)-garch(1,1	PROPN
dem-11741	282	208	)	)	PUNCT
dem-11741	282	209	,	,	PUNCT
dem-11741	282	210	t	t	PROPN
dem-11741	282	211	-	-	PUNCT
dem-11741	282	212	student	student	NOUN
dem-11741	282	213	distribution	distribution	NOUN
dem-11741	282	214	0.748	0.748	NUM
dem-11741	282	215	[	[	X
dem-11741	282	216	0.099	0.099	NUM
dem-11741	282	217	]	]	PUNCT
dem-11741	282	218	all	all	DET
dem-11741	282	219	additional	additional	ADJ
dem-11741	282	220	market	market	NOUN
dem-11741	282	221	variables	variable	NOUN
dem-11741	282	222	have	have	VERB
dem-11741	282	223	statistically	statistically	ADV
dem-11741	282	224	insignificant	insignificant	ADJ
dem-11741	282	225	impact	impact	NOUN
dem-11741	282	226	on	on	ADP
dem-11741	282	227	the	the	DET
dem-11741	282	228	firm	firm	ADJ
dem-11741	282	229	volatility	volatility	NOUN
dem-11741	282	230	–	–	PUNCT
dem-11741	282	231	elimination	elimination	NOUN
dem-11741	282	232	from	from	ADP
dem-11741	282	233	the	the	DET
dem-11741	282	234	model	model	NOUN
dem-11741	282	235	instal	instal	PROPN
dem-11741	282	236	kraków	kraków	PROPN
dem-11741	282	237	(	(	PUNCT
dem-11741	282	238	ink	ink	NOUN
dem-11741	282	239	)	)	PUNCT
dem-11741	282	240	armax(1,1)garch(1,1	armax(1,1)garch(1,1	ADJ
dem-11741	282	241	)	)	PUNCT
dem-11741	282	242	,	,	PUNCT
dem-11741	282	243	t	t	PROPN
dem-11741	282	244	-	-	PUNCT
dem-11741	282	245	student	student	NOUN
dem-11741	282	246	distribution	distribution	NOUN
dem-11741	282	247	2.618	2.618	NUM
dem-11741	282	248	[	[	X
dem-11741	282	249	0.000	0.000	X
dem-11741	282	250	]	]	X
dem-11741	282	251	rm	rm	PROPN
dem-11741	282	252	,	,	PUNCT
dem-11741	282	253	t	t	PROPN
dem-11741	282	254	2	2	NUM
dem-11741	282	255	:	:	PUNCT
dem-11741	282	256	–	–	PUNCT
dem-11741	282	257	0.076	0.076	NUM
dem-11741	282	258	[	[	X
dem-11741	282	259	0.001	0.001	NUM
dem-11741	282	260	]	]	PUNCT
dem-11741	282	261	note	note	NOUN
dem-11741	282	262	:	:	PUNCT
dem-11741	282	263	p	p	X
dem-11741	282	264	-	-	PUNCT
dem-11741	282	265	value	value	NOUN
dem-11741	282	266	in	in	ADP
dem-11741	282	267	brackets	bracket	NOUN
dem-11741	282	268	.	.	PUNCT
dem-11741	283	1	in	in	ADP
dem-11741	283	2	the	the	DET
dem-11741	283	3	turbulent	turbulent	ADJ
dem-11741	283	4	period	period	NOUN
dem-11741	283	5	for	for	ADP
dem-11741	283	6	five	five	NUM
dem-11741	283	7	enterprises	enterprise	NOUN
dem-11741	283	8	:	:	PUNCT
dem-11741	283	9	awbud	awbud	ADJ
dem-11741	283	10	,	,	PUNCT
dem-11741	283	11	projprzem	projprzem	NOUN
dem-11741	283	12	,	,	PUNCT
dem-11741	283	13	prochem	prochem	NOUN
dem-11741	283	14	,	,	PUNCT
dem-11741	283	15	elkop	elkop	PROPN
dem-11741	283	16	,	,	PUNCT
dem-11741	283	17	ulma	ulma	ADJ
dem-11741	283	18	construccion	construccion	PROPN
dem-11741	283	19	the	the	DET
dem-11741	283	20	relationship	relationship	NOUN
dem-11741	283	21	between	between	ADP
dem-11741	283	22	the	the	DET
dem-11741	283	23	wig	wig	NOUN
dem-11741	283	24	index	index	NOUN
dem-11741	283	25	volatility	volatility	NOUN
dem-11741	283	26	and	and	CCONJ
dem-11741	283	27	firm	firm	ADJ
dem-11741	283	28	volatility	volatility	NOUN
dem-11741	283	29	was	be	AUX
dem-11741	283	30	statistically	statistically	ADV
dem-11741	283	31	insignificant	insignificant	ADJ
dem-11741	283	32	.	.	PUNCT
dem-11741	284	1	for	for	SCONJ
dem-11741	284	2	the	the	DET
dem-11741	284	3	remaining	remain	VERB
dem-11741	284	4	15	15	NUM
dem-11741	284	5	enterprises	enterprise	NOUN
dem-11741	284	6	statistically	statistically	ADV
dem-11741	284	7	significant	significant	ADJ
dem-11741	284	8	influence	influence	NOUN
dem-11741	284	9	of	of	ADP
dem-11741	284	10	market	market	NOUN
dem-11741	284	11	volatility	volatility	NOUN
dem-11741	284	12	on	on	ADP
dem-11741	284	13	firm	firm	ADJ
dem-11741	284	14	volatility	volatility	NOUN
dem-11741	284	15	was	be	AUX
dem-11741	284	16	confirmed	confirm	VERB
dem-11741	284	17	,	,	PUNCT
dem-11741	284	18	while	while	SCONJ
dem-11741	284	19	the	the	DET
dem-11741	284	20	direction	direction	NOUN
dem-11741	284	21	of	of	ADP
dem-11741	284	22	this	this	DET
dem-11741	284	23	dependence	dependence	NOUN
dem-11741	284	24	was	be	AUX
dem-11741	284	25	positive	positive	ADJ
dem-11741	284	26	.	.	PUNCT
dem-11741	285	1	additionally	additionally	ADV
dem-11741	285	2	,	,	PUNCT
dem-11741	285	3	share	share	NOUN
dem-11741	285	4	price	price	NOUN
dem-11741	285	5	volatility	volatility	NOUN
dem-11741	285	6	of	of	ADP
dem-11741	285	7	mostostal	mostostal	ADJ
dem-11741	285	8	warszawa	warszawa	PROPN
dem-11741	285	9	was	be	AUX
dem-11741	285	10	significantly	significantly	ADV
dem-11741	285	11	shaped	shape	VERB
dem-11741	285	12	by	by	ADP
dem-11741	285	13	market	market	NOUN
dem-11741	285	14	volatility	volatility	NOUN
dem-11741	285	15	observed	observe	VERB
dem-11741	285	16	on	on	ADP
dem-11741	285	17	the	the	DET
dem-11741	285	18	previous	previous	ADJ
dem-11741	285	19	day	day	NOUN
dem-11741	285	20	.	.	PUNCT
dem-11741	286	1	in	in	ADP
dem-11741	286	2	case	case	NOUN
dem-11741	286	3	of	of	ADP
dem-11741	286	4	the	the	DET
dem-11741	286	5	remaining	remain	VERB
dem-11741	286	6	enterprises	enterprise	NOUN
dem-11741	286	7	additional	additional	ADJ
dem-11741	286	8	variables	variable	NOUN
dem-11741	286	9	did	do	AUX
dem-11741	286	10	not	not	PART
dem-11741	286	11	significantly	significantly	ADV
dem-11741	286	12	influence	influence	VERB
dem-11741	286	13	share	share	NOUN
dem-11741	286	14	price	price	NOUN
dem-11741	286	15	volatility	volatility	NOUN
dem-11741	286	16	.	.	PUNCT
dem-11741	287	1	the	the	DET
dem-11741	287	2	conducted	conduct	VERB
dem-11741	287	3	commonality	commonality	NOUN
dem-11741	287	4	in	in	ADP
dem-11741	287	5	volatility	volatility	NOUN
dem-11741	287	6	analysis	analysis	NOUN
dem-11741	287	7	for	for	ADP
dem-11741	287	8	the	the	DET
dem-11741	287	9	enterprises	enterprise	NOUN
dem-11741	287	10	listed	list	VERB
dem-11741	287	11	on	on	ADP
dem-11741	287	12	the	the	DET
dem-11741	287	13	warsaw	warsaw	PROPN
dem-11741	287	14	stock	stock	PROPN
dem-11741	287	15	exchange	exchange	PROPN
dem-11741	287	16	shows	show	VERB
dem-11741	287	17	that	that	SCONJ
dem-11741	287	18	in	in	ADP
dem-11741	287	19	the	the	DET
dem-11741	287	20	stable	stable	ADJ
dem-11741	287	21	period	period	NOUN
dem-11741	287	22	82	82	NUM
dem-11741	287	23	%	%	NOUN
dem-11741	287	24	of	of	ADP
dem-11741	287	25	analyzed	analyze	VERB
dem-11741	287	26	enterprises	enterprise	NOUN
dem-11741	287	27	were	be	AUX
dem-11741	287	28	sensitive	sensitive	ADJ
dem-11741	287	29	to	to	ADP
dem-11741	287	30	the	the	DET
dem-11741	287	31	wig	wig	NOUN
dem-11741	287	32	index	index	NOUN
dem-11741	287	33	volatility	volatility	NOUN
dem-11741	287	34	,	,	PUNCT
dem-11741	287	35	the	the	DET
dem-11741	287	36	appropriate	appropriate	ADJ
dem-11741	287	37	ratio	ratio	NOUN
dem-11741	287	38	in	in	ADP
dem-11741	287	39	the	the	DET
dem-11741	287	40	turbulent	turbulent	ADJ
dem-11741	287	41	period	period	NOUN
dem-11741	287	42	reached	reach	VERB
dem-11741	287	43	the	the	DET
dem-11741	287	44	value	value	NOUN
dem-11741	287	45	of	of	ADP
dem-11741	287	46	75	75	NUM
dem-11741	287	47	%	%	NOUN
dem-11741	287	48	.	.	PUNCT
dem-11741	288	1	analysis	analysis	NOUN
dem-11741	288	2	of	of	ADP
dem-11741	288	3	the	the	DET
dem-11741	288	4	relationship	relationship	NOUN
dem-11741	288	5	between	between	ADP
dem-11741	288	6	market	market	NOUN
dem-11741	288	7	volatility	volatility	NOUN
dem-11741	288	8	and	and	CCONJ
dem-11741	288	9	firms	firm	NOUN
dem-11741	288	10	volatility	volatility	NOUN
dem-11741	288	11	…	…	SYM
dem-11741	288	12	dynamic	dynamic	ADJ
dem-11741	288	13	econometric	econometric	ADJ
dem-11741	288	14	models	model	NOUN
dem-11741	288	15	16	16	NUM
dem-11741	288	16	(	(	PUNCT
dem-11741	288	17	2016	2016	NUM
dem-11741	288	18	)	)	PUNCT
dem-11741	288	19	87–116	87–116	PROPN
dem-11741	288	20	107	107	NUM
dem-11741	288	21	table	table	NOUN
dem-11741	288	22	6	6	NUM
dem-11741	288	23	.	.	PUNCT
dem-11741	288	24	results	result	NOUN
dem-11741	288	25	on	on	ADP
dem-11741	288	26	commonality	commonality	NOUN
dem-11741	288	27	in	in	ADP
dem-11741	288	28	volatility	volatility	NOUN
dem-11741	288	29	for	for	ADP
dem-11741	288	30	construction	construction	NOUN
dem-11741	288	31	sector	sector	NOUN
dem-11741	288	32	in	in	ADP
dem-11741	288	33	turbulent	turbulent	ADJ
dem-11741	288	34	period	period	NOUN
dem-11741	288	35	company	company	NOUN
dem-11741	288	36	model	model	NOUN
dem-11741	288	37	specification	specification	NOUN
dem-11741	288	38	estimate	estimate	NOUN
dem-11741	288	39	of	of	ADP
dem-11741	288	40	vm	vm	PROPN
dem-11741	288	41	,	,	PUNCT
dem-11741	288	42	t_wig	t_wig	DET
dem-11741	288	43	parameter	parameter	NOUN
dem-11741	288	44	significance	significance	NOUN
dem-11741	288	45	of	of	ADP
dem-11741	288	46	the	the	DET
dem-11741	288	47	influence	influence	NOUN
dem-11741	288	48	of	of	ADP
dem-11741	288	49	others	other	NOUN
dem-11741	288	50	market	market	NOUN
dem-11741	288	51	variables	variable	NOUN
dem-11741	288	52	(	(	PUNCT
dem-11741	288	53	vm	vm	PROPN
dem-11741	288	54	,	,	PUNCT
dem-11741	288	55	t-1_wig	t-1_wig	PROPN
dem-11741	288	56	,	,	PUNCT
dem-11741	288	57	rm	rm	PROPN
dem-11741	288	58	,	,	PUNCT
dem-11741	288	59	t	t	PROPN
dem-11741	288	60	,	,	PUNCT
dem-11741	288	61	rm	rm	PROPN
dem-11741	288	62	,	,	PUNCT
dem-11741	288	63	t	t	PROPN
dem-11741	288	64	2	2	NUM
dem-11741	288	65	)	)	PUNCT
dem-11741	288	66	on	on	ADP
dem-11741	288	67	firm	firm	ADJ
dem-11741	288	68	volatility	volatility	NOUN
dem-11741	288	69	mostostal	mostostal	NOUN
dem-11741	288	70	export	export	NOUN
dem-11741	288	71	(	(	PUNCT
dem-11741	288	72	msx	msx	NOUN
dem-11741	288	73	)	)	PUNCT
dem-11741	288	74	arfimax(1,0.07,1	arfimax(1,0.07,1	NOUN
dem-11741	288	75	)	)	PUNCT
dem-11741	288	76	garch(1,1	garch(1,1	NOUN
dem-11741	288	77	)	)	PUNCT
dem-11741	288	78	,	,	PUNCT
dem-11741	288	79	t	t	PROPN
dem-11741	288	80	-	-	PUNCT
dem-11741	288	81	student	student	NOUN
dem-11741	288	82	distribution	distribution	NOUN
dem-11741	288	83	0.949	0.949	NUM
dem-11741	289	1	[	[	X
dem-11741	289	2	0.007	0.007	NUM
dem-11741	289	3	]	]	X
dem-11741	289	4	all	all	DET
dem-11741	289	5	additional	additional	ADJ
dem-11741	289	6	market	market	NOUN
dem-11741	289	7	variables	variable	NOUN
dem-11741	289	8	have	have	VERB
dem-11741	289	9	statistically	statistically	ADV
dem-11741	289	10	insignificant	insignificant	ADJ
dem-11741	289	11	impact	impact	NOUN
dem-11741	289	12	on	on	ADP
dem-11741	289	13	the	the	DET
dem-11741	289	14	firm	firm	ADJ
dem-11741	289	15	volatility	volatility	NOUN
dem-11741	289	16	–	–	PUNCT
dem-11741	289	17	elimination	elimination	NOUN
dem-11741	289	18	from	from	ADP
dem-11741	289	19	the	the	DET
dem-11741	289	20	model	model	NOUN
dem-11741	289	21	mostostal	mostostal	PROPN
dem-11741	289	22	warszawa	warszawa	PROPN
dem-11741	289	23	(	(	PUNCT
dem-11741	289	24	msw	msw	NOUN
dem-11741	289	25	)	)	PUNCT
dem-11741	289	26	arx(2)-garch(1,1	arx(2)-garch(1,1	NOUN
dem-11741	289	27	)	)	PUNCT
dem-11741	289	28	,	,	PUNCT
dem-11741	289	29	t	t	PROPN
dem-11741	289	30	-	-	PUNCT
dem-11741	289	31	student	student	NOUN
dem-11741	289	32	distribution	distribution	NOUN
dem-11741	289	33	0.171	0.171	NUM
dem-11741	290	1	[	[	X
dem-11741	290	2	0.006	0.006	NUM
dem-11741	290	3	]	]	SYM
dem-11741	290	4	vm	vm	PROPN
dem-11741	290	5	,	,	PUNCT
dem-11741	290	6	t-1_wig	t-1_wig	PROPN
dem-11741	290	7	:	:	PUNCT
dem-11741	290	8	0.176	0.176	NUM
dem-11741	290	9	[	[	X
dem-11741	290	10	0.040	0.040	NUM
dem-11741	290	11	]	]	X
dem-11741	290	12	prochem	prochem	NOUN
dem-11741	290	13	(	(	PUNCT
dem-11741	290	14	prm	prm	PROPN
dem-11741	290	15	)	)	PUNCT
dem-11741	290	16	armax(1,1)figarch(1,0.68,1	armax(1,1)figarch(1,0.68,1	NOUN
dem-11741	290	17	)	)	PUNCT
dem-11741	290	18	,	,	PUNCT
dem-11741	290	19	t	t	PROPN
dem-11741	290	20	-	-	PUNCT
dem-11741	290	21	student	student	NOUN
dem-11741	290	22	distribution	distribution	NOUN
dem-11741	290	23	0.138	0.138	NUM
dem-11741	291	1	[	[	X
dem-11741	291	2	0.483	0.483	NUM
dem-11741	291	3	]	]	X
dem-11741	291	4	all	all	DET
dem-11741	291	5	additional	additional	ADJ
dem-11741	291	6	market	market	NOUN
dem-11741	291	7	variables	variable	NOUN
dem-11741	291	8	have	have	VERB
dem-11741	291	9	statistically	statistically	ADV
dem-11741	291	10	insignificant	insignificant	ADJ
dem-11741	291	11	impact	impact	NOUN
dem-11741	291	12	on	on	ADP
dem-11741	291	13	the	the	DET
dem-11741	291	14	firm	firm	ADJ
dem-11741	291	15	volatility	volatility	NOUN
dem-11741	291	16	–	–	PUNCT
dem-11741	291	17	elimination	elimination	NOUN
dem-11741	291	18	from	from	ADP
dem-11741	291	19	the	the	DET
dem-11741	291	20	model	model	NOUN
dem-11741	291	21	budimex	budimex	NOUN
dem-11741	291	22	(	(	PUNCT
dem-11741	291	23	bdx	bdx	ADJ
dem-11741	291	24	)	)	PUNCT
dem-11741	291	25	arfimax(1,0.103,1	arfimax(1,0.103,1	NOUN
dem-11741	291	26	)	)	PUNCT
dem-11741	291	27	garch(1,1	garch(1,1	NOUN
dem-11741	291	28	)	)	PUNCT
dem-11741	291	29	,	,	PUNCT
dem-11741	291	30	t	t	PROPN
dem-11741	291	31	-	-	PUNCT
dem-11741	291	32	student	student	NOUN
dem-11741	291	33	distribution	distribution	NOUN
dem-11741	291	34	0.206	0.206	NUM
dem-11741	291	35	[	[	X
dem-11741	291	36	0.000	0.000	NUM
dem-11741	291	37	]	]	X
dem-11741	291	38	all	all	DET
dem-11741	291	39	additional	additional	ADJ
dem-11741	291	40	market	market	NOUN
dem-11741	291	41	variables	variable	NOUN
dem-11741	291	42	have	have	VERB
dem-11741	291	43	statistically	statistically	ADV
dem-11741	291	44	insignificant	insignificant	ADJ
dem-11741	291	45	impact	impact	NOUN
dem-11741	291	46	on	on	ADP
dem-11741	291	47	the	the	DET
dem-11741	291	48	firm	firm	ADJ
dem-11741	291	49	volatility	volatility	NOUN
dem-11741	291	50	–	–	PUNCT
dem-11741	291	51	elimination	elimination	NOUN
dem-11741	291	52	from	from	ADP
dem-11741	291	53	the	the	DET
dem-11741	291	54	model	model	NOUN
dem-11741	291	55	mostostal	mostostal	PROPN
dem-11741	291	56	zabrze	zabrze	PROPN
dem-11741	291	57	holding	holding	NOUN
dem-11741	291	58	(	(	PUNCT
dem-11741	291	59	msz	msz	NOUN
dem-11741	291	60	)	)	PUNCT
dem-11741	291	61	arfimax(1,0.076,0	arfimax(1,0.076,0	NOUN
dem-11741	291	62	)	)	PUNCT
dem-11741	291	63	garch(1,1	garch(1,1	NOUN
dem-11741	291	64	)	)	PUNCT
dem-11741	291	65	,	,	PUNCT
dem-11741	291	66	t	t	PROPN
dem-11741	291	67	-	-	PUNCT
dem-11741	291	68	student	student	NOUN
dem-11741	291	69	distribution	distribution	NOUN
dem-11741	291	70	0.867	0.867	NUM
dem-11741	291	71	[	[	X
dem-11741	291	72	0.000	0.000	NUM
dem-11741	291	73	]	]	X
dem-11741	291	74	all	all	DET
dem-11741	291	75	additional	additional	ADJ
dem-11741	291	76	market	market	NOUN
dem-11741	291	77	variables	variable	NOUN
dem-11741	291	78	have	have	VERB
dem-11741	291	79	statistically	statistically	ADV
dem-11741	291	80	insignificant	insignificant	ADJ
dem-11741	291	81	impact	impact	NOUN
dem-11741	291	82	on	on	ADP
dem-11741	291	83	the	the	DET
dem-11741	291	84	firm	firm	ADJ
dem-11741	291	85	volatility	volatility	NOUN
dem-11741	291	86	–	–	PUNCT
dem-11741	291	87	elimination	elimination	NOUN
dem-11741	291	88	from	from	ADP
dem-11741	291	89	the	the	DET
dem-11741	291	90	model	model	NOUN
dem-11741	291	91	elektrobudowa	elektrobudowa	NOUN
dem-11741	291	92	(	(	PUNCT
dem-11741	291	93	elb	elb	PROPN
dem-11741	291	94	)	)	PUNCT
dem-11741	292	1	arfimax(1,0.121,1	arfimax(1,0.121,1	NOUN
dem-11741	292	2	)	)	PUNCT
dem-11741	292	3	garch(1,1	garch(1,1	NOUN
dem-11741	292	4	)	)	PUNCT
dem-11741	292	5	,	,	PUNCT
dem-11741	292	6	t	t	PROPN
dem-11741	292	7	-	-	PUNCT
dem-11741	292	8	student	student	NOUN
dem-11741	292	9	distribution	distribution	NOUN
dem-11741	292	10	0.122	0.122	NUM
dem-11741	292	11	[	[	X
dem-11741	292	12	0.082	0.082	NUM
dem-11741	292	13	]	]	X
dem-11741	292	14	all	all	DET
dem-11741	292	15	additional	additional	ADJ
dem-11741	292	16	market	market	NOUN
dem-11741	292	17	variables	variable	NOUN
dem-11741	292	18	have	have	VERB
dem-11741	292	19	statistically	statistically	ADV
dem-11741	292	20	insignificant	insignificant	ADJ
dem-11741	292	21	impact	impact	NOUN
dem-11741	292	22	on	on	ADP
dem-11741	292	23	the	the	DET
dem-11741	292	24	firm	firm	ADJ
dem-11741	292	25	volatility	volatility	NOUN
dem-11741	292	26	–	–	PUNCT
dem-11741	292	27	elimination	elimination	NOUN
dem-11741	292	28	from	from	ADP
dem-11741	292	29	the	the	DET
dem-11741	292	30	model	model	NOUN
dem-11741	292	31	ulma	ulma	PROPN
dem-11741	292	32	construccion	construccion	PROPN
dem-11741	292	33	polska	polska	PROPN
dem-11741	292	34	(	(	PUNCT
dem-11741	292	35	ulm	ulm	PROPN
dem-11741	292	36	)	)	PUNCT
dem-11741	292	37	arfimax(1,0.041,1	arfimax(1,0.041,1	NOUN
dem-11741	292	38	)	)	PUNCT
dem-11741	292	39	garch(1,1	garch(1,1	NOUN
dem-11741	292	40	)	)	PUNCT
dem-11741	292	41	,	,	PUNCT
dem-11741	292	42	t	t	PROPN
dem-11741	292	43	-	-	PUNCT
dem-11741	292	44	student	student	NOUN
dem-11741	292	45	distribution	distribution	NOUN
dem-11741	292	46	0.227	0.227	NUM
dem-11741	292	47	[	[	NOUN
dem-11741	292	48	0.454	0.454	NUM
dem-11741	292	49	]	]	PUNCT
dem-11741	292	50	all	all	DET
dem-11741	292	51	additional	additional	ADJ
dem-11741	292	52	market	market	NOUN
dem-11741	292	53	variables	variable	NOUN
dem-11741	292	54	have	have	VERB
dem-11741	292	55	statistically	statistically	ADV
dem-11741	292	56	insignificant	insignificant	ADJ
dem-11741	292	57	impact	impact	NOUN
dem-11741	292	58	on	on	ADP
dem-11741	292	59	the	the	DET
dem-11741	292	60	firm	firm	ADJ
dem-11741	292	61	volatility	volatility	NOUN
dem-11741	292	62	–	–	PUNCT
dem-11741	292	63	elimination	elimination	NOUN
dem-11741	292	64	from	from	ADP
dem-11741	292	65	the	the	DET
dem-11741	292	66	model	model	NOUN
dem-11741	292	67	energoaparatura	energoaparatura	NOUN
dem-11741	292	68	(	(	PUNCT
dem-11741	292	69	enp	enp	PROPN
dem-11741	292	70	)	)	PUNCT
dem-11741	292	71	arfimax(1,0.111,0	arfimax(1,0.111,0	ADJ
dem-11741	292	72	)	)	PUNCT
dem-11741	292	73	garch(1,1	garch(1,1	NOUN
dem-11741	292	74	)	)	PUNCT
dem-11741	292	75	,	,	PUNCT
dem-11741	292	76	t	t	PROPN
dem-11741	292	77	-	-	PUNCT
dem-11741	292	78	student	student	NOUN
dem-11741	292	79	distribution	distribution	NOUN
dem-11741	292	80	0.508	0.508	NUM
dem-11741	293	1	[	[	SYM
dem-11741	293	2	0.005	0.005	NUM
dem-11741	293	3	]	]	PUNCT
dem-11741	293	4	all	all	DET
dem-11741	293	5	additional	additional	ADJ
dem-11741	293	6	market	market	NOUN
dem-11741	293	7	variables	variable	NOUN
dem-11741	293	8	have	have	VERB
dem-11741	293	9	statistically	statistically	ADV
dem-11741	293	10	insignificant	insignificant	ADJ
dem-11741	293	11	impact	impact	NOUN
dem-11741	293	12	on	on	ADP
dem-11741	293	13	the	the	DET
dem-11741	293	14	firm	firm	ADJ
dem-11741	293	15	volatility	volatility	NOUN
dem-11741	293	16	–	–	PUNCT
dem-11741	293	17	elimination	elimination	NOUN
dem-11741	293	18	from	from	ADP
dem-11741	293	19	the	the	DET
dem-11741	293	20	model	model	NOUN
dem-11741	293	21	polimexmostostal	polimexmostostal	ADJ
dem-11741	293	22	(	(	PUNCT
dem-11741	293	23	pxm	pxm	ADJ
dem-11741	293	24	)	)	PUNCT
dem-11741	293	25	armax(1,1	armax(1,1	ADJ
dem-11741	293	26	)	)	PUNCT
dem-11741	293	27	garch(1,1	garch(1,1	NOUN
dem-11741	293	28	)	)	PUNCT
dem-11741	293	29	,	,	PUNCT
dem-11741	293	30	t	t	PROPN
dem-11741	293	31	-	-	PUNCT
dem-11741	293	32	student	student	NOUN
dem-11741	293	33	distribution	distribution	NOUN
dem-11741	293	34	1.639	1.639	NUM
dem-11741	293	35	[	[	X
dem-11741	293	36	0.000	0.000	NUM
dem-11741	293	37	]	]	X
dem-11741	293	38	all	all	DET
dem-11741	293	39	additional	additional	ADJ
dem-11741	293	40	market	market	NOUN
dem-11741	293	41	variables	variable	NOUN
dem-11741	293	42	have	have	VERB
dem-11741	293	43	statistically	statistically	ADV
dem-11741	293	44	insignificant	insignificant	ADJ
dem-11741	293	45	impact	impact	NOUN
dem-11741	293	46	on	on	ADP
dem-11741	293	47	the	the	DET
dem-11741	293	48	firm	firm	ADJ
dem-11741	293	49	volatility	volatility	NOUN
dem-11741	293	50	–	–	PUNCT
dem-11741	293	51	elimination	elimination	NOUN
dem-11741	293	52	from	from	ADP
dem-11741	293	53	the	the	DET
dem-11741	293	54	model	model	NOUN
dem-11741	293	55	mostostal	mostostal	PROPN
dem-11741	293	56	płock	płock	NOUN
dem-11741	293	57	(	(	PUNCT
dem-11741	293	58	msp	msp	PROPN
dem-11741	293	59	)	)	PUNCT
dem-11741	293	60	armax(1,1)arch(1	armax(1,1)arch(1	PROPN
dem-11741	293	61	)	)	PUNCT
dem-11741	293	62	,	,	PUNCT
dem-11741	293	63	t	t	PROPN
dem-11741	293	64	-	-	PUNCT
dem-11741	293	65	student	student	NOUN
dem-11741	293	66	distribution	distribution	NOUN
dem-11741	293	67	0.401	0.401	NUM
dem-11741	293	68	[	[	X
dem-11741	293	69	0.000	0.000	NUM
dem-11741	293	70	]	]	X
dem-11741	293	71	all	all	DET
dem-11741	293	72	additional	additional	ADJ
dem-11741	293	73	market	market	NOUN
dem-11741	293	74	variables	variable	NOUN
dem-11741	293	75	have	have	VERB
dem-11741	293	76	statistically	statistically	ADV
dem-11741	293	77	insignificant	insignificant	ADJ
dem-11741	293	78	impact	impact	NOUN
dem-11741	293	79	on	on	ADP
dem-11741	293	80	the	the	DET
dem-11741	293	81	firm	firm	ADJ
dem-11741	293	82	volatility	volatility	NOUN
dem-11741	293	83	–	–	PUNCT
dem-11741	293	84	elimination	elimination	NOUN
dem-11741	293	85	from	from	ADP
dem-11741	293	86	the	the	DET
dem-11741	293	87	model	model	NOUN
dem-11741	293	88	energopol	energopol	NOUN
dem-11741	293	89	południe	południe	PROPN
dem-11741	293	90	(	(	PUNCT
dem-11741	293	91	epl	epl	PROPN
dem-11741	293	92	)	)	PUNCT
dem-11741	293	93	arfimax(1,0.045,1	arfimax(1,0.045,1	PROPN
dem-11741	293	94	)	)	PUNCT
dem-11741	293	95	garch(1,1	garch(1,1	NOUN
dem-11741	293	96	)	)	PUNCT
dem-11741	293	97	,	,	PUNCT
dem-11741	293	98	t	t	PROPN
dem-11741	293	99	-	-	PUNCT
dem-11741	293	100	student	student	NOUN
dem-11741	293	101	distribution	distribution	NOUN
dem-11741	293	102	0.521	0.521	NUM
dem-11741	293	103	[	[	X
dem-11741	293	104	0.012	0.012	NUM
dem-11741	293	105	]	]	X
dem-11741	293	106	all	all	DET
dem-11741	293	107	additional	additional	ADJ
dem-11741	293	108	market	market	NOUN
dem-11741	293	109	variables	variable	NOUN
dem-11741	293	110	have	have	VERB
dem-11741	293	111	statistically	statistically	ADV
dem-11741	293	112	insignificant	insignificant	ADJ
dem-11741	293	113	impact	impact	NOUN
dem-11741	293	114	on	on	ADP
dem-11741	293	115	the	the	DET
dem-11741	293	116	firm	firm	ADJ
dem-11741	293	117	volatility	volatility	NOUN
dem-11741	293	118	–	–	PUNCT
dem-11741	293	119	elimination	elimination	NOUN
dem-11741	293	120	from	from	ADP
dem-11741	293	121	the	the	DET
dem-11741	293	122	model	model	NOUN
dem-11741	293	123	instal	instal	PROPN
dem-11741	293	124	kraków	kraków	PROPN
dem-11741	293	125	(	(	PUNCT
dem-11741	293	126	ink	ink	NOUN
dem-11741	293	127	)	)	PUNCT
dem-11741	293	128	arfimax(0,0.12,1)figarch(1,0.75,1	arfimax(0,0.12,1)figarch(1,0.75,1	PROPN
dem-11741	293	129	)	)	PUNCT
dem-11741	293	130	,	,	PUNCT
dem-11741	293	131	t	t	PROPN
dem-11741	293	132	-	-	PUNCT
dem-11741	293	133	student	student	NOUN
dem-11741	293	134	distribution	distribution	NOUN
dem-11741	293	135	0.541	0.541	NUM
dem-11741	293	136	[	[	X
dem-11741	293	137	0.000	0.000	NUM
dem-11741	293	138	]	]	X
dem-11741	293	139	all	all	DET
dem-11741	293	140	additional	additional	ADJ
dem-11741	293	141	market	market	NOUN
dem-11741	293	142	variables	variable	NOUN
dem-11741	293	143	have	have	VERB
dem-11741	293	144	statistically	statistically	ADV
dem-11741	293	145	insignificant	insignificant	ADJ
dem-11741	293	146	impact	impact	NOUN
dem-11741	293	147	on	on	ADP
dem-11741	293	148	the	the	DET
dem-11741	293	149	firm	firm	ADJ
dem-11741	293	150	volatility	volatility	NOUN
dem-11741	293	151	–	–	PUNCT
dem-11741	293	152	elimination	elimination	NOUN
dem-11741	293	153	from	from	ADP
dem-11741	293	154	the	the	DET
dem-11741	293	155	model	model	NOUN
dem-11741	293	156	projprzem	projprzem	NOUN
dem-11741	293	157	(	(	PUNCT
dem-11741	293	158	pjp	pjp	ADJ
dem-11741	293	159	)	)	PUNCT
dem-11741	293	160	armax(1,1	armax(1,1	NOUN
dem-11741	293	161	)	)	PUNCT
dem-11741	293	162	garch(1,1	garch(1,1	NOUN
dem-11741	293	163	)	)	PUNCT
dem-11741	293	164	,	,	PUNCT
dem-11741	293	165	t	t	PROPN
dem-11741	293	166	-	-	PUNCT
dem-11741	293	167	student	student	NOUN
dem-11741	293	168	distribution	distribution	NOUN
dem-11741	294	1	0.065	0.065	NUM
dem-11741	294	2	[	[	X
dem-11741	294	3	0.562	0.562	NUM
dem-11741	294	4	]	]	PUNCT
dem-11741	294	5	all	all	DET
dem-11741	294	6	additional	additional	ADJ
dem-11741	294	7	market	market	NOUN
dem-11741	294	8	variables	variable	NOUN
dem-11741	294	9	have	have	VERB
dem-11741	294	10	statistically	statistically	ADV
dem-11741	294	11	insignificant	insignificant	ADJ
dem-11741	294	12	impact	impact	NOUN
dem-11741	294	13	on	on	ADP
dem-11741	294	14	the	the	DET
dem-11741	294	15	firm	firm	ADJ
dem-11741	294	16	volatility	volatility	NOUN
dem-11741	294	17	–	–	PUNCT
dem-11741	294	18	elimination	elimination	NOUN
dem-11741	294	19	from	from	ADP
dem-11741	294	20	the	the	DET
dem-11741	294	21	model	model	NOUN
dem-11741	294	22	elkop	elkop	X
dem-11741	294	23	(	(	PUNCT
dem-11741	294	24	ekp	ekp	NOUN
dem-11741	294	25	)	)	PUNCT
dem-11741	294	26	arfimax(1,0.999,0)arch(1	arfimax(1,0.999,0)arch(1	NOUN
dem-11741	294	27	)	)	PUNCT
dem-11741	294	28	,	,	PUNCT
dem-11741	294	29	t	t	PROPN
dem-11741	294	30	-	-	PUNCT
dem-11741	294	31	student	student	NOUN
dem-11741	294	32	distribution	distribution	NOUN
dem-11741	294	33	0.054	0.054	NUM
dem-11741	295	1	[	[	X
dem-11741	295	2	0.189	0.189	NUM
dem-11741	295	3	]	]	PUNCT
dem-11741	295	4	all	all	DET
dem-11741	295	5	additional	additional	ADJ
dem-11741	295	6	market	market	NOUN
dem-11741	295	7	variables	variable	NOUN
dem-11741	295	8	have	have	VERB
dem-11741	295	9	statistically	statistically	ADV
dem-11741	295	10	insignificant	insignificant	ADJ
dem-11741	295	11	impact	impact	NOUN
dem-11741	295	12	on	on	ADP
dem-11741	295	13	the	the	DET
dem-11741	295	14	firm	firm	ADJ
dem-11741	295	15	volatility	volatility	NOUN
dem-11741	295	16	–	–	PUNCT
dem-11741	295	17	elimination	elimination	NOUN
dem-11741	295	18	from	from	ADP
dem-11741	295	19	the	the	DET
dem-11741	295	20	model	model	NOUN
dem-11741	295	21	włodarczyk	włodarczyk	PROPN
dem-11741	295	22	,	,	PUNCT
dem-11741	295	23	otola	otola	PROPN
dem-11741	295	24	dynamic	dynamic	ADJ
dem-11741	295	25	econometric	econometric	ADJ
dem-11741	295	26	models	model	NOUN
dem-11741	295	27	16	16	NUM
dem-11741	295	28	(	(	PUNCT
dem-11741	295	29	2016	2016	NUM
dem-11741	295	30	)	)	PUNCT
dem-11741	296	1	87–116	87–116	PROPN
dem-11741	296	2	108	108	NUM
dem-11741	296	3	table	table	NOUN
dem-11741	296	4	6	6	NUM
dem-11741	296	5	.	.	PUNCT
dem-11741	297	1	continued	continue	VERB
dem-11741	297	2	company	company	NOUN
dem-11741	297	3	model	model	NOUN
dem-11741	297	4	specification	specification	NOUN
dem-11741	297	5	estimate	estimate	NOUN
dem-11741	297	6	of	of	ADP
dem-11741	297	7	vm	vm	PROPN
dem-11741	297	8	,	,	PUNCT
dem-11741	297	9	t_wig	t_wig	PRON
dem-11741	297	10	parameter	parameter	NOUN
dem-11741	297	11	significance	significance	NOUN
dem-11741	297	12	of	of	ADP
dem-11741	297	13	the	the	DET
dem-11741	297	14	influence	influence	NOUN
dem-11741	297	15	of	of	ADP
dem-11741	297	16	others	other	NOUN
dem-11741	297	17	market	market	NOUN
dem-11741	297	18	variables	variable	NOUN
dem-11741	297	19	(	(	PUNCT
dem-11741	297	20	vm	vm	PROPN
dem-11741	297	21	,	,	PUNCT
dem-11741	297	22	t-1_wig	t-1_wig	PROPN
dem-11741	297	23	,	,	PUNCT
dem-11741	297	24	rm	rm	PROPN
dem-11741	297	25	,	,	PUNCT
dem-11741	297	26	t	t	PROPN
dem-11741	297	27	,	,	PUNCT
dem-11741	297	28	rm	rm	PROPN
dem-11741	297	29	,	,	PUNCT
dem-11741	297	30	t	t	PROPN
dem-11741	297	31	2	2	NUM
dem-11741	297	32	)	)	PUNCT
dem-11741	297	33	on	on	ADP
dem-11741	297	34	firm	firm	ADJ
dem-11741	297	35	volatility	volatility	NOUN
dem-11741	297	36	pbg	pbg	X
dem-11741	297	37	(	(	PUNCT
dem-11741	297	38	pbg	pbg	PROPN
dem-11741	297	39	)	)	PUNCT
dem-11741	297	40	arfimax(1,0.236,1	arfimax(1,0.236,1	PROPN
dem-11741	297	41	)	)	PUNCT
dem-11741	297	42	garch(1,1	garch(1,1	NOUN
dem-11741	297	43	)	)	PUNCT
dem-11741	297	44	,	,	PUNCT
dem-11741	297	45	t	t	PROPN
dem-11741	297	46	-	-	PUNCT
dem-11741	297	47	student	student	NOUN
dem-11741	297	48	distribution	distribution	NOUN
dem-11741	297	49	1.041	1.041	NUM
dem-11741	298	1	[	[	X
dem-11741	298	2	0.000	0.000	NUM
dem-11741	298	3	]	]	X
dem-11741	298	4	all	all	DET
dem-11741	298	5	additional	additional	ADJ
dem-11741	298	6	market	market	NOUN
dem-11741	298	7	variables	variable	NOUN
dem-11741	298	8	have	have	VERB
dem-11741	298	9	statistically	statistically	ADV
dem-11741	298	10	insignificant	insignificant	ADJ
dem-11741	298	11	impact	impact	NOUN
dem-11741	298	12	on	on	ADP
dem-11741	298	13	the	the	DET
dem-11741	298	14	firm	firm	ADJ
dem-11741	298	15	volatility	volatility	NOUN
dem-11741	298	16	–	–	PUNCT
dem-11741	298	17	elimination	elimination	NOUN
dem-11741	298	18	from	from	ADP
dem-11741	298	19	the	the	DET
dem-11741	298	20	model	model	NOUN
dem-11741	298	21	herkules	herkule	NOUN
dem-11741	298	22	(	(	PUNCT
dem-11741	298	23	hrs	hrs	NOUN
dem-11741	298	24	)	)	PUNCT
dem-11741	298	25	arfimax(1,0.063,1	arfimax(1,0.063,1	NOUN
dem-11741	298	26	)	)	PUNCT
dem-11741	298	27	garch(1,1	garch(1,1	NOUN
dem-11741	298	28	)	)	PUNCT
dem-11741	298	29	,	,	PUNCT
dem-11741	298	30	t	t	PROPN
dem-11741	298	31	-	-	PUNCT
dem-11741	298	32	student	student	NOUN
dem-11741	298	33	distribution	distribution	NOUN
dem-11741	298	34	1.016	1.016	NUM
dem-11741	298	35	[	[	X
dem-11741	298	36	0.000	0.000	X
dem-11741	298	37	]	]	X
dem-11741	298	38	all	all	DET
dem-11741	298	39	additional	additional	ADJ
dem-11741	298	40	market	market	NOUN
dem-11741	298	41	variables	variable	NOUN
dem-11741	298	42	have	have	VERB
dem-11741	298	43	statistically	statistically	ADV
dem-11741	298	44	insignificant	insignificant	ADJ
dem-11741	298	45	impact	impact	NOUN
dem-11741	298	46	on	on	ADP
dem-11741	298	47	the	the	DET
dem-11741	298	48	firm	firm	ADJ
dem-11741	298	49	volatility	volatility	NOUN
dem-11741	298	50	–	–	PUNCT
dem-11741	298	51	elimination	elimination	NOUN
dem-11741	298	52	from	from	ADP
dem-11741	298	53	the	the	DET
dem-11741	298	54	model	model	NOUN
dem-11741	298	55	erbud	erbud	NOUN
dem-11741	298	56	(	(	PUNCT
dem-11741	298	57	erb	erb	NOUN
dem-11741	298	58	)	)	PUNCT
dem-11741	298	59	arfimax(1,0.04,1	arfimax(1,0.04,1	NOUN
dem-11741	298	60	)	)	PUNCT
dem-11741	298	61	garch(1,1	garch(1,1	NOUN
dem-11741	298	62	)	)	PUNCT
dem-11741	298	63	,	,	PUNCT
dem-11741	298	64	t	t	PROPN
dem-11741	298	65	-	-	PUNCT
dem-11741	298	66	student	student	NOUN
dem-11741	298	67	distribution	distribution	NOUN
dem-11741	298	68	0.269	0.269	NUM
dem-11741	299	1	[	[	X
dem-11741	299	2	0.020	0.020	NUM
dem-11741	299	3	]	]	X
dem-11741	299	4	all	all	DET
dem-11741	299	5	additional	additional	ADJ
dem-11741	299	6	market	market	NOUN
dem-11741	299	7	variables	variable	NOUN
dem-11741	299	8	have	have	VERB
dem-11741	299	9	statistically	statistically	ADV
dem-11741	299	10	insignificant	insignificant	ADJ
dem-11741	299	11	impact	impact	NOUN
dem-11741	299	12	on	on	ADP
dem-11741	299	13	the	the	DET
dem-11741	299	14	firm	firm	ADJ
dem-11741	299	15	volatility	volatility	NOUN
dem-11741	299	16	–	–	PUNCT
dem-11741	299	17	elimination	elimination	NOUN
dem-11741	299	18	from	from	ADP
dem-11741	299	19	the	the	DET
dem-11741	299	20	model	model	NOUN
dem-11741	299	21	energomontażpołudnie	energomontażpołudnie	PROPN
dem-11741	299	22	(	(	PUNCT
dem-11741	299	23	edp	edp	NOUN
dem-11741	299	24	)	)	PUNCT
dem-11741	299	25	arfimax(1,0.14,1	arfimax(1,0.14,1	NOUN
dem-11741	299	26	)	)	PUNCT
dem-11741	299	27	garch(1,1	garch(1,1	NOUN
dem-11741	299	28	)	)	PUNCT
dem-11741	299	29	,	,	PUNCT
dem-11741	299	30	t	t	PROPN
dem-11741	299	31	-	-	PUNCT
dem-11741	299	32	student	student	NOUN
dem-11741	299	33	distribution	distribution	NOUN
dem-11741	299	34	0.457	0.457	NUM
dem-11741	299	35	[	[	X
dem-11741	299	36	0.009	0.009	NUM
dem-11741	299	37	]	]	X
dem-11741	299	38	all	all	DET
dem-11741	299	39	additional	additional	ADJ
dem-11741	299	40	market	market	NOUN
dem-11741	299	41	variables	variable	NOUN
dem-11741	299	42	have	have	VERB
dem-11741	299	43	statistically	statistically	ADV
dem-11741	299	44	insignificant	insignificant	ADJ
dem-11741	299	45	impact	impact	NOUN
dem-11741	299	46	on	on	ADP
dem-11741	299	47	the	the	DET
dem-11741	299	48	firm	firm	ADJ
dem-11741	299	49	volatility	volatility	NOUN
dem-11741	299	50	–	–	PUNCT
dem-11741	299	51	elimination	elimination	NOUN
dem-11741	299	52	from	from	ADP
dem-11741	299	53	the	the	DET
dem-11741	299	54	model	model	NOUN
dem-11741	299	55	budopolwrocław	budopolwrocław	PROPN
dem-11741	299	56	(	(	PUNCT
dem-11741	299	57	bdl	bdl	PROPN
dem-11741	299	58	)	)	PUNCT
dem-11741	299	59	arfimax(1,0.087,1	arfimax(1,0.087,1	NOUN
dem-11741	299	60	)	)	PUNCT
dem-11741	299	61	garch(1,1	garch(1,1	NOUN
dem-11741	299	62	)	)	PUNCT
dem-11741	299	63	,	,	PUNCT
dem-11741	299	64	t	t	PROPN
dem-11741	299	65	-	-	PUNCT
dem-11741	299	66	student	student	NOUN
dem-11741	299	67	distribution	distribution	NOUN
dem-11741	299	68	0.972	0.972	NUM
dem-11741	300	1	[	[	X
dem-11741	300	2	0.000	0.000	NUM
dem-11741	300	3	]	]	X
dem-11741	300	4	all	all	DET
dem-11741	300	5	additional	additional	ADJ
dem-11741	300	6	market	market	NOUN
dem-11741	300	7	variables	variable	NOUN
dem-11741	300	8	have	have	VERB
dem-11741	300	9	statistically	statistically	ADV
dem-11741	300	10	insignificant	insignificant	ADJ
dem-11741	300	11	impact	impact	NOUN
dem-11741	300	12	on	on	ADP
dem-11741	300	13	the	the	DET
dem-11741	300	14	firm	firm	ADJ
dem-11741	300	15	volatility	volatility	NOUN
dem-11741	300	16	–	–	PUNCT
dem-11741	300	17	elimination	elimination	NOUN
dem-11741	300	18	from	from	ADP
dem-11741	300	19	the	the	DET
dem-11741	300	20	model	model	NOUN
dem-11741	300	21	awbud	awbud	PROPN
dem-11741	300	22	(	(	PUNCT
dem-11741	300	23	awb	awb	NOUN
dem-11741	300	24	)	)	PUNCT
dem-11741	300	25	armax(1,1	armax(1,1	NOUN
dem-11741	300	26	)	)	PUNCT
dem-11741	300	27	garch(1,1	garch(1,1	NOUN
dem-11741	300	28	)	)	PUNCT
dem-11741	300	29	,	,	PUNCT
dem-11741	300	30	t	t	PROPN
dem-11741	300	31	-	-	PUNCT
dem-11741	300	32	student	student	NOUN
dem-11741	300	33	distribution	distribution	NOUN
dem-11741	300	34	–	–	PUNCT
dem-11741	300	35	0.018	0.018	NUM
dem-11741	301	1	[	[	X
dem-11741	301	2	0.735	0.735	NUM
dem-11741	301	3	]	]	PUNCT
dem-11741	301	4	all	all	DET
dem-11741	301	5	additional	additional	ADJ
dem-11741	301	6	market	market	NOUN
dem-11741	301	7	variables	variable	NOUN
dem-11741	301	8	have	have	VERB
dem-11741	301	9	statistically	statistically	ADV
dem-11741	301	10	insignificant	insignificant	ADJ
dem-11741	301	11	impact	impact	NOUN
dem-11741	301	12	on	on	ADP
dem-11741	301	13	the	the	DET
dem-11741	301	14	firm	firm	ADJ
dem-11741	301	15	volatility	volatility	NOUN
dem-11741	301	16	–	–	PUNCT
dem-11741	301	17	elimination	elimination	NOUN
dem-11741	301	18	from	from	ADP
dem-11741	301	19	the	the	DET
dem-11741	301	20	model	model	NOUN
dem-11741	301	21	note	note	NOUN
dem-11741	301	22	:	:	PUNCT
dem-11741	301	23	p	p	X
dem-11741	301	24	-	-	PUNCT
dem-11741	301	25	value	value	NOUN
dem-11741	301	26	in	in	ADP
dem-11741	301	27	brackets	bracket	NOUN
dem-11741	301	28	.	.	PUNCT
dem-11741	302	1	estimation	estimation	NOUN
dem-11741	302	2	of	of	ADP
dem-11741	302	3	volatility	volatility	NOUN
dem-11741	302	4	models	model	NOUN
dem-11741	302	5	for	for	ADP
dem-11741	302	6	the	the	DET
dem-11741	302	7	it	it	PRON
dem-11741	302	8	sector	sector	NOUN
dem-11741	302	9	enterprises	enterprise	NOUN
dem-11741	302	10	in	in	ADP
dem-11741	302	11	both	both	DET
dem-11741	302	12	analyzed	analyze	VERB
dem-11741	302	13	periods	period	NOUN
dem-11741	302	14	was	be	AUX
dem-11741	302	15	conducted	conduct	VERB
dem-11741	302	16	in	in	ADP
dem-11741	302	17	the	the	DET
dem-11741	302	18	same	same	ADJ
dem-11741	302	19	manner	manner	NOUN
dem-11741	302	20	as	as	ADP
dem-11741	302	21	in	in	ADP
dem-11741	302	22	case	case	NOUN
dem-11741	302	23	of	of	ADP
dem-11741	302	24	the	the	DET
dem-11741	302	25	construction	construction	NOUN
dem-11741	302	26	sector	sector	NOUN
dem-11741	302	27	enterprises	enterprise	NOUN
dem-11741	302	28	(	(	PUNCT
dem-11741	302	29	tables	table	NOUN
dem-11741	302	30	7–8	7–8	NOUN
dem-11741	302	31	)	)	PUNCT
dem-11741	302	32	.	.	PUNCT
dem-11741	303	1	the	the	DET
dem-11741	303	2	estimated	estimate	VERB
dem-11741	303	3	models	model	NOUN
dem-11741	303	4	indicate	indicate	VERB
dem-11741	303	5	a	a	DET
dem-11741	303	6	statistically	statistically	ADV
dem-11741	303	7	insignificant	insignificant	ADJ
dem-11741	303	8	relationship	relationship	NOUN
dem-11741	303	9	between	between	ADP
dem-11741	303	10	market	market	NOUN
dem-11741	303	11	volatility	volatility	NOUN
dem-11741	303	12	and	and	CCONJ
dem-11741	303	13	share	share	NOUN
dem-11741	303	14	price	price	NOUN
dem-11741	303	15	volatility	volatility	NOUN
dem-11741	303	16	of	of	ADP
dem-11741	303	17	it	it	PRON
dem-11741	303	18	sector	sector	NOUN
dem-11741	303	19	companies	company	NOUN
dem-11741	303	20	only	only	ADV
dem-11741	303	21	in	in	ADP
dem-11741	303	22	case	case	NOUN
dem-11741	303	23	of	of	ADP
dem-11741	303	24	macrologic	macrologic	ADJ
dem-11741	303	25	and	and	CCONJ
dem-11741	303	26	talex	talex	NOUN
dem-11741	303	27	.	.	PUNCT
dem-11741	304	1	moreover	moreover	ADV
dem-11741	304	2	,	,	PUNCT
dem-11741	304	3	included	include	VERB
dem-11741	304	4	in	in	ADP
dem-11741	304	5	the	the	DET
dem-11741	304	6	modelling	modelling	NOUN
dem-11741	304	7	process	process	NOUN
dem-11741	304	8	the	the	DET
dem-11741	304	9	additional	additional	ADJ
dem-11741	304	10	variables	variable	NOUN
dem-11741	304	11	describing	describe	VERB
dem-11741	304	12	market	market	NOUN
dem-11741	304	13	volatility	volatility	NOUN
dem-11741	304	14	,	,	PUNCT
dem-11741	304	15	did	do	AUX
dem-11741	304	16	not	not	PART
dem-11741	304	17	have	have	VERB
dem-11741	304	18	a	a	DET
dem-11741	304	19	statistically	statistically	ADV
dem-11741	304	20	significant	significant	ADJ
dem-11741	304	21	impact	impact	NOUN
dem-11741	304	22	on	on	ADP
dem-11741	304	23	shares	share	NOUN
dem-11741	304	24	volatility	volatility	NOUN
dem-11741	304	25	of	of	ADP
dem-11741	304	26	the	the	DET
dem-11741	304	27	analyzed	analyze	VERB
dem-11741	304	28	enterprises	enterprise	NOUN
dem-11741	304	29	.	.	PUNCT
dem-11741	305	1	in	in	ADP
dem-11741	305	2	the	the	DET
dem-11741	305	3	turbulent	turbulent	ADJ
dem-11741	305	4	period	period	NOUN
dem-11741	305	5	for	for	ADP
dem-11741	305	6	the	the	DET
dem-11741	305	7	seven	seven	NUM
dem-11741	305	8	analyzed	analyze	VERB
dem-11741	305	9	enterprises	enterprise	NOUN
dem-11741	305	10	from	from	ADP
dem-11741	305	11	the	the	DET
dem-11741	305	12	it	it	NOUN
dem-11741	305	13	sector	sector	NOUN
dem-11741	305	14	:	:	PUNCT
dem-11741	305	15	comarch	comarch	NOUN
dem-11741	305	16	,	,	PUNCT
dem-11741	305	17	talex	talex	NOUN
dem-11741	305	18	,	,	PUNCT
dem-11741	305	19	simple	simple	ADJ
dem-11741	305	20	,	,	PUNCT
dem-11741	305	21	wasko	wasko	ADV
dem-11741	305	22	,	,	PUNCT
dem-11741	305	23	pc	pc	NOUN
dem-11741	305	24	guard	guard	NOUN
dem-11741	305	25	,	,	PUNCT
dem-11741	305	26	unima	unima	PROPN
dem-11741	305	27	2000	2000	NUM
dem-11741	305	28	,	,	PUNCT
dem-11741	305	29	infovide	infovide	ADJ
dem-11741	305	30	-	-	PUNCT
dem-11741	305	31	matrix	matrix	NOUN
dem-11741	305	32	the	the	DET
dem-11741	305	33	relationship	relationship	NOUN
dem-11741	305	34	between	between	ADP
dem-11741	305	35	the	the	DET
dem-11741	305	36	wig	wig	NOUN
dem-11741	305	37	index	index	NOUN
dem-11741	305	38	volatility	volatility	NOUN
dem-11741	305	39	and	and	CCONJ
dem-11741	305	40	share	share	NOUN
dem-11741	305	41	price	price	NOUN
dem-11741	305	42	volatility	volatility	NOUN
dem-11741	305	43	was	be	AUX
dem-11741	305	44	statistically	statistically	ADV
dem-11741	305	45	insignificant	insignificant	ADJ
dem-11741	305	46	at	at	ADP
dem-11741	305	47	10	10	NUM
dem-11741	305	48	%	%	NOUN
dem-11741	305	49	significance	significance	NOUN
dem-11741	305	50	level	level	NOUN
dem-11741	305	51	.	.	PUNCT
dem-11741	306	1	in	in	ADP
dem-11741	306	2	addition	addition	NOUN
dem-11741	306	3	,	,	PUNCT
dem-11741	306	4	for	for	ADP
dem-11741	306	5	three	three	NUM
dem-11741	306	6	enterprises	enterprise	NOUN
dem-11741	306	7	:	:	PUNCT
dem-11741	306	8	comarch	comarch	NOUN
dem-11741	306	9	,	,	PUNCT
dem-11741	306	10	procad	procad	NOUN
dem-11741	306	11	and	and	CCONJ
dem-11741	306	12	ntt	ntt	NOUN
dem-11741	306	13	system	system	NOUN
dem-11741	306	14	market	market	NOUN
dem-11741	306	15	volatility	volatility	NOUN
dem-11741	306	16	from	from	ADP
dem-11741	306	17	the	the	DET
dem-11741	306	18	previous	previous	ADJ
dem-11741	306	19	day	day	NOUN
dem-11741	306	20	significantly	significantly	ADV
dem-11741	306	21	affected	affect	VERB
dem-11741	306	22	share	share	NOUN
dem-11741	306	23	price	price	NOUN
dem-11741	306	24	volatility	volatility	NOUN
dem-11741	306	25	of	of	ADP
dem-11741	306	26	these	these	DET
dem-11741	306	27	enterprises	enterprise	NOUN
dem-11741	306	28	.	.	PUNCT
dem-11741	307	1	on	on	ADP
dem-11741	307	2	the	the	DET
dem-11741	307	3	basis	basis	NOUN
dem-11741	307	4	of	of	ADP
dem-11741	307	5	empirical	empirical	ADJ
dem-11741	307	6	studies	study	NOUN
dem-11741	307	7	results	result	VERB
dem-11741	307	8	for	for	SCONJ
dem-11741	307	9	it	it	PRON
dem-11741	307	10	sector	sector	NOUN
dem-11741	307	11	one	one	PRON
dem-11741	307	12	may	may	AUX
dem-11741	307	13	draw	draw	VERB
dem-11741	307	14	the	the	DET
dem-11741	307	15	conclusion	conclusion	NOUN
dem-11741	307	16	that	that	SCONJ
dem-11741	307	17	arfimax	arfimax	ADJ
dem-11741	307	18	-	-	PUNCT
dem-11741	307	19	figarch	figarch	NOUN
dem-11741	307	20	specification	specification	NOUN
dem-11741	307	21	has	have	AUX
dem-11741	307	22	been	be	AUX
dem-11741	307	23	chosen	choose	VERB
dem-11741	307	24	more	more	ADV
dem-11741	307	25	frequently	frequently	ADV
dem-11741	307	26	for	for	ADP
dem-11741	307	27	the	the	DET
dem-11741	307	28	post	post	ADJ
dem-11741	307	29	-	-	ADJ
dem-11741	307	30	crisis	crisis	ADJ
dem-11741	307	31	period	period	NOUN
dem-11741	307	32	compared	compare	VERB
dem-11741	307	33	to	to	ADP
dem-11741	307	34	pre	pre	ADJ
dem-11741	307	35	-	-	ADJ
dem-11741	307	36	crisis	crisis	ADJ
dem-11741	307	37	period	period	NOUN
dem-11741	307	38	.	.	PUNCT
dem-11741	308	1	therefore	therefore	ADV
dem-11741	308	2	,	,	PUNCT
dem-11741	308	3	long	long	ADJ
dem-11741	308	4	memory	memory	NOUN
dem-11741	308	5	property	property	NOUN
dem-11741	308	6	is	be	AUX
dem-11741	308	7	not	not	PART
dem-11741	308	8	an	an	DET
dem-11741	308	9	inherent	inherent	ADJ
dem-11741	308	10	feature	feature	NOUN
dem-11741	308	11	of	of	ADP
dem-11741	308	12	firm	firm	ADJ
dem-11741	308	13	volatility	volatility	NOUN
dem-11741	308	14	process	process	NOUN
dem-11741	308	15	and	and	CCONJ
dem-11741	308	16	the	the	DET
dem-11741	308	17	structural	structural	ADJ
dem-11741	308	18	change	change	NOUN
dem-11741	308	19	connected	connect	VERB
dem-11741	308	20	with	with	ADP
dem-11741	308	21	the	the	DET
dem-11741	308	22	subprime	subprime	ADJ
dem-11741	308	23	crisis	crisis	NOUN
dem-11741	308	24	may	may	AUX
dem-11741	308	25	influence	influence	VERB
dem-11741	308	26	analysis	analysis	NOUN
dem-11741	308	27	of	of	ADP
dem-11741	308	28	the	the	DET
dem-11741	308	29	relationship	relationship	NOUN
dem-11741	308	30	between	between	ADP
dem-11741	308	31	market	market	NOUN
dem-11741	308	32	volatility	volatility	NOUN
dem-11741	308	33	and	and	CCONJ
dem-11741	308	34	firms	firm	NOUN
dem-11741	308	35	volatility	volatility	NOUN
dem-11741	308	36	…	…	SYM
dem-11741	308	37	dynamic	dynamic	ADJ
dem-11741	308	38	econometric	econometric	ADJ
dem-11741	308	39	models	model	NOUN
dem-11741	308	40	16	16	NUM
dem-11741	308	41	(	(	PUNCT
dem-11741	308	42	2016	2016	NUM
dem-11741	308	43	)	)	PUNCT
dem-11741	309	1	87–116	87–116	PROPN
dem-11741	309	2	109	109	NUM
dem-11741	309	3	to	to	ADP
dem-11741	309	4	the	the	DET
dem-11741	309	5	assessment	assessment	NOUN
dem-11741	309	6	of	of	ADP
dem-11741	309	7	the	the	DET
dem-11741	309	8	long	long	ADJ
dem-11741	309	9	memory	memory	NOUN
dem-11741	309	10	property	property	NOUN
dem-11741	309	11	in	in	ADP
dem-11741	309	12	the	the	DET
dem-11741	309	13	volatility	volatility	NOUN
dem-11741	309	14	5	5	NUM
dem-11741	309	15	.	.	PUNCT
dem-11741	310	1	the	the	DET
dem-11741	310	2	conducted	conduct	VERB
dem-11741	310	3	commonality	commonality	NOUN
dem-11741	310	4	in	in	ADP
dem-11741	310	5	volatility	volatility	NOUN
dem-11741	310	6	analysis	analysis	NOUN
dem-11741	310	7	for	for	ADP
dem-11741	310	8	the	the	DET
dem-11741	310	9	it	it	PRON
dem-11741	310	10	sector	sector	NOUN
dem-11741	310	11	enterprises	enterprise	NOUN
dem-11741	310	12	listed	list	VERB
dem-11741	310	13	table	table	NOUN
dem-11741	310	14	7	7	NUM
dem-11741	310	15	.	.	PUNCT
dem-11741	310	16	results	result	NOUN
dem-11741	310	17	on	on	ADP
dem-11741	310	18	commonality	commonality	NOUN
dem-11741	310	19	in	in	ADP
dem-11741	310	20	volatility	volatility	NOUN
dem-11741	310	21	for	for	ADP
dem-11741	310	22	it	it	PRON
dem-11741	310	23	sector	sector	NOUN
dem-11741	310	24	in	in	ADP
dem-11741	310	25	stable	stable	ADJ
dem-11741	310	26	period	period	NOUN
dem-11741	310	27	company	company	NOUN
dem-11741	310	28	model	model	NOUN
dem-11741	310	29	specification	specification	NOUN
dem-11741	310	30	estimate	estimate	NOUN
dem-11741	310	31	of	of	ADP
dem-11741	310	32	vm	vm	PROPN
dem-11741	310	33	,	,	PUNCT
dem-11741	310	34	t_wig	t_wig	DET
dem-11741	310	35	parameter	parameter	NOUN
dem-11741	310	36	significance	significance	NOUN
dem-11741	310	37	of	of	ADP
dem-11741	310	38	the	the	DET
dem-11741	310	39	influence	influence	NOUN
dem-11741	310	40	of	of	ADP
dem-11741	310	41	others	other	NOUN
dem-11741	310	42	market	market	NOUN
dem-11741	310	43	variables	variable	NOUN
dem-11741	310	44	(	(	PUNCT
dem-11741	310	45	vm	vm	PROPN
dem-11741	310	46	,	,	PUNCT
dem-11741	310	47	t-1_wig	t-1_wig	PROPN
dem-11741	310	48	,	,	PUNCT
dem-11741	310	49	rm	rm	PROPN
dem-11741	310	50	,	,	PUNCT
dem-11741	310	51	t	t	PROPN
dem-11741	310	52	,	,	PUNCT
dem-11741	310	53	rm	rm	PROPN
dem-11741	310	54	,	,	PUNCT
dem-11741	310	55	t	t	PROPN
dem-11741	310	56	2	2	NUM
dem-11741	310	57	)	)	PUNCT
dem-11741	310	58	on	on	ADP
dem-11741	310	59	firm	firm	ADJ
dem-11741	310	60	volatility	volatility	NOUN
dem-11741	310	61	calatrava	calatrava	NOUN
dem-11741	310	62	capital	capital	NOUN
dem-11741	310	63	(	(	PUNCT
dem-11741	310	64	ctc	ctc	NOUN
dem-11741	310	65	)	)	PUNCT
dem-11741	310	66	arfimax(1,0.104,1)garch(1,1	arfimax(1,0.104,1)garch(1,1	ADV
dem-11741	310	67	)	)	PUNCT
dem-11741	310	68	,	,	PUNCT
dem-11741	310	69	t	t	PROPN
dem-11741	310	70	-	-	PUNCT
dem-11741	310	71	student	student	NOUN
dem-11741	310	72	distribution	distribution	NOUN
dem-11741	310	73	1.186	1.186	NUM
dem-11741	311	1	[	[	X
dem-11741	311	2	0.002	0.002	NUM
dem-11741	311	3	]	]	PUNCT
dem-11741	311	4	all	all	DET
dem-11741	311	5	additional	additional	ADJ
dem-11741	311	6	market	market	NOUN
dem-11741	311	7	variables	variable	NOUN
dem-11741	311	8	have	have	VERB
dem-11741	311	9	statistically	statistically	ADV
dem-11741	311	10	insignificant	insignificant	ADJ
dem-11741	311	11	impact	impact	NOUN
dem-11741	311	12	on	on	ADP
dem-11741	311	13	the	the	DET
dem-11741	311	14	firm	firm	ADJ
dem-11741	311	15	volatility	volatility	NOUN
dem-11741	311	16	–	–	PUNCT
dem-11741	311	17	elimination	elimination	NOUN
dem-11741	311	18	from	from	ADP
dem-11741	311	19	the	the	DET
dem-11741	311	20	model	model	NOUN
dem-11741	311	21	zuk	zuk	PROPN
dem-11741	311	22	elzab	elzab	PROPN
dem-11741	311	23	(	(	PUNCT
dem-11741	311	24	elz	elz	PROPN
dem-11741	311	25	)	)	PUNCT
dem-11741	311	26	arfimax(1,0.044,1)garch(1,1	arfimax(1,0.044,1)garch(1,1	NUM
dem-11741	311	27	)	)	PUNCT
dem-11741	311	28	,	,	PUNCT
dem-11741	311	29	t	t	PROPN
dem-11741	311	30	-	-	PUNCT
dem-11741	311	31	student	student	NOUN
dem-11741	311	32	distribution	distribution	NOUN
dem-11741	311	33	0.362	0.362	NUM
dem-11741	312	1	[	[	X
dem-11741	312	2	0.030	0.030	NUM
dem-11741	312	3	]	]	PUNCT
dem-11741	312	4	all	all	DET
dem-11741	312	5	additional	additional	ADJ
dem-11741	312	6	market	market	NOUN
dem-11741	312	7	variables	variable	NOUN
dem-11741	312	8	have	have	VERB
dem-11741	312	9	statistically	statistically	ADV
dem-11741	312	10	insignificant	insignificant	ADJ
dem-11741	312	11	impact	impact	NOUN
dem-11741	312	12	on	on	ADP
dem-11741	312	13	the	the	DET
dem-11741	312	14	firm	firm	ADJ
dem-11741	312	15	volatility	volatility	NOUN
dem-11741	312	16	–	–	PUNCT
dem-11741	312	17	elimination	elimination	NOUN
dem-11741	312	18	from	from	ADP
dem-11741	312	19	the	the	DET
dem-11741	312	20	model	model	NOUN
dem-11741	312	21	asseco	asseco	PROPN
dem-11741	312	22	poland	poland	PROPN
dem-11741	312	23	(	(	PUNCT
dem-11741	312	24	acp	acp	PROPN
dem-11741	312	25	)	)	PUNCT
dem-11741	312	26	arfimax(1,0.108,1	arfimax(1,0.108,1	VERB
dem-11741	312	27	)	)	PUNCT
dem-11741	312	28	garch(1,1	garch(1,1	NOUN
dem-11741	312	29	)	)	PUNCT
dem-11741	312	30	,	,	PUNCT
dem-11741	312	31	t	t	PROPN
dem-11741	312	32	-	-	PUNCT
dem-11741	312	33	student	student	NOUN
dem-11741	312	34	distribution	distribution	NOUN
dem-11741	312	35	0.536	0.536	NUM
dem-11741	312	36	[	[	X
dem-11741	312	37	0.000	0.000	NUM
dem-11741	312	38	]	]	X
dem-11741	312	39	all	all	DET
dem-11741	312	40	additional	additional	ADJ
dem-11741	312	41	market	market	NOUN
dem-11741	312	42	variables	variable	NOUN
dem-11741	312	43	have	have	VERB
dem-11741	312	44	statistically	statistically	ADV
dem-11741	312	45	insignificant	insignificant	ADJ
dem-11741	312	46	impact	impact	NOUN
dem-11741	312	47	on	on	ADP
dem-11741	312	48	the	the	DET
dem-11741	312	49	firm	firm	ADJ
dem-11741	312	50	volatility	volatility	NOUN
dem-11741	312	51	–	–	PUNCT
dem-11741	312	52	elimination	elimination	NOUN
dem-11741	312	53	from	from	ADP
dem-11741	312	54	the	the	DET
dem-11741	312	55	model	model	NOUN
dem-11741	312	56	comarch	comarch	PROPN
dem-11741	312	57	(	(	PUNCT
dem-11741	312	58	cmr	cmr	NOUN
dem-11741	312	59	)	)	PUNCT
dem-11741	312	60	armax(1,1)garch(1,1	armax(1,1)garch(1,1	ADJ
dem-11741	312	61	)	)	PUNCT
dem-11741	312	62	,	,	PUNCT
dem-11741	312	63	t	t	PROPN
dem-11741	312	64	-	-	PUNCT
dem-11741	312	65	student	student	NOUN
dem-11741	312	66	distribution	distribution	NOUN
dem-11741	312	67	0.349	0.349	NUM
dem-11741	312	68	[	[	X
dem-11741	312	69	0.003	0.003	NUM
dem-11741	312	70	]	]	X
dem-11741	312	71	all	all	DET
dem-11741	312	72	additional	additional	ADJ
dem-11741	312	73	market	market	NOUN
dem-11741	312	74	variables	variable	NOUN
dem-11741	312	75	have	have	VERB
dem-11741	312	76	statistically	statistically	ADV
dem-11741	312	77	insignificant	insignificant	ADJ
dem-11741	312	78	impact	impact	NOUN
dem-11741	312	79	on	on	ADP
dem-11741	312	80	the	the	DET
dem-11741	312	81	firm	firm	ADJ
dem-11741	312	82	volatility	volatility	NOUN
dem-11741	312	83	–	–	PUNCT
dem-11741	312	84	elimination	elimination	NOUN
dem-11741	312	85	from	from	ADP
dem-11741	312	86	the	the	DET
dem-11741	312	87	model	model	NOUN
dem-11741	312	88	macrologic	macrologic	NOUN
dem-11741	312	89	(	(	PUNCT
dem-11741	312	90	mcl	mcl	PROPN
dem-11741	312	91	)	)	PUNCT
dem-11741	312	92	armax(1,1)garch(1,1	armax(1,1)garch(1,1	ADJ
dem-11741	312	93	)	)	PUNCT
dem-11741	312	94	,	,	PUNCT
dem-11741	312	95	t	t	PROPN
dem-11741	312	96	-	-	PUNCT
dem-11741	312	97	student	student	NOUN
dem-11741	312	98	distribution	distribution	NOUN
dem-11741	312	99	0.392	0.392	NUM
dem-11741	312	100	[	[	X
dem-11741	312	101	0.133	0.133	NUM
dem-11741	312	102	]	]	X
dem-11741	312	103	all	all	DET
dem-11741	312	104	additional	additional	ADJ
dem-11741	312	105	market	market	NOUN
dem-11741	312	106	variables	variable	NOUN
dem-11741	312	107	have	have	VERB
dem-11741	312	108	statistically	statistically	ADV
dem-11741	312	109	insignificant	insignificant	ADJ
dem-11741	312	110	impact	impact	NOUN
dem-11741	312	111	on	on	ADP
dem-11741	312	112	the	the	DET
dem-11741	312	113	firm	firm	ADJ
dem-11741	312	114	volatility	volatility	NOUN
dem-11741	312	115	–	–	PUNCT
dem-11741	312	116	elimination	elimination	NOUN
dem-11741	312	117	from	from	ADP
dem-11741	312	118	the	the	DET
dem-11741	312	119	model	model	NOUN
dem-11741	312	120	talex	talex	NOUN
dem-11741	312	121	(	(	PUNCT
dem-11741	312	122	tlx	tlx	NOUN
dem-11741	312	123	)	)	PUNCT
dem-11741	312	124	armax(1,1)garch(1,1	armax(1,1)garch(1,1	ADJ
dem-11741	312	125	)	)	PUNCT
dem-11741	312	126	with	with	ADP
dem-11741	312	127	tstudent	tstudent	ADJ
dem-11741	312	128	distribution	distribution	NOUN
dem-11741	312	129	0.362	0.362	NUM
dem-11741	313	1	[	[	X
dem-11741	313	2	0.155	0.155	NUM
dem-11741	313	3	]	]	X
dem-11741	313	4	all	all	DET
dem-11741	313	5	additional	additional	ADJ
dem-11741	313	6	market	market	NOUN
dem-11741	313	7	variables	variable	NOUN
dem-11741	313	8	have	have	VERB
dem-11741	313	9	statistically	statistically	ADV
dem-11741	313	10	insignificant	insignificant	ADJ
dem-11741	313	11	impact	impact	NOUN
dem-11741	313	12	on	on	ADP
dem-11741	313	13	the	the	DET
dem-11741	313	14	firm	firm	ADJ
dem-11741	313	15	volatility	volatility	NOUN
dem-11741	313	16	–	–	PUNCT
dem-11741	313	17	elimination	elimination	NOUN
dem-11741	313	18	from	from	ADP
dem-11741	313	19	the	the	DET
dem-11741	313	20	model	model	NOUN
dem-11741	314	1	simple	simple	ADJ
dem-11741	314	2	(	(	PUNCT
dem-11741	314	3	sme	sme	NOUN
dem-11741	314	4	)	)	PUNCT
dem-11741	314	5	armax(1,1)garch(1,1	armax(1,1)garch(1,1	ADJ
dem-11741	314	6	)	)	PUNCT
dem-11741	314	7	,	,	PUNCT
dem-11741	314	8	t	t	PROPN
dem-11741	314	9	-	-	PUNCT
dem-11741	314	10	student	student	NOUN
dem-11741	314	11	distribution	distribution	NOUN
dem-11741	314	12	1.414	1.414	NUM
dem-11741	315	1	[	[	X
dem-11741	315	2	0.061	0.061	NUM
dem-11741	315	3	]	]	X
dem-11741	315	4	all	all	DET
dem-11741	315	5	additional	additional	ADJ
dem-11741	315	6	market	market	NOUN
dem-11741	315	7	variables	variable	NOUN
dem-11741	315	8	have	have	VERB
dem-11741	315	9	statistically	statistically	ADV
dem-11741	315	10	insignificant	insignificant	ADJ
dem-11741	315	11	impact	impact	NOUN
dem-11741	315	12	on	on	ADP
dem-11741	315	13	the	the	DET
dem-11741	315	14	firm	firm	ADJ
dem-11741	315	15	volatility	volatility	NOUN
dem-11741	315	16	–	–	PUNCT
dem-11741	315	17	elimination	elimination	NOUN
dem-11741	315	18	from	from	ADP
dem-11741	315	19	the	the	DET
dem-11741	315	20	model	model	NOUN
dem-11741	315	21	cd	cd	PROPN
dem-11741	315	22	project	project	NOUN
dem-11741	315	23	red	red	PROPN
dem-11741	315	24	(	(	PUNCT
dem-11741	315	25	cdr	cdr	NOUN
dem-11741	315	26	)	)	PUNCT
dem-11741	315	27	armax(1,1)garch(1,1	armax(1,1)garch(1,1	ADJ
dem-11741	315	28	)	)	PUNCT
dem-11741	315	29	,	,	PUNCT
dem-11741	315	30	t	t	PROPN
dem-11741	315	31	-	-	PUNCT
dem-11741	315	32	student	student	NOUN
dem-11741	315	33	distribution	distribution	NOUN
dem-11741	315	34	0.949	0.949	NUM
dem-11741	316	1	[	[	X
dem-11741	316	2	0.001	0.001	NUM
dem-11741	316	3	]	]	X
dem-11741	316	4	all	all	DET
dem-11741	316	5	additional	additional	ADJ
dem-11741	316	6	market	market	NOUN
dem-11741	316	7	variables	variable	NOUN
dem-11741	316	8	have	have	VERB
dem-11741	316	9	statistically	statistically	ADV
dem-11741	316	10	insignificant	insignificant	ADJ
dem-11741	316	11	impact	impact	NOUN
dem-11741	316	12	on	on	ADP
dem-11741	316	13	the	the	DET
dem-11741	316	14	firm	firm	ADJ
dem-11741	316	15	volatility	volatility	NOUN
dem-11741	316	16	–	–	PUNCT
dem-11741	316	17	elimination	elimination	NOUN
dem-11741	316	18	from	from	ADP
dem-11741	316	19	the	the	DET
dem-11741	316	20	model	model	NOUN
dem-11741	316	21	sygnity	sygnity	NOUN
dem-11741	316	22	(	(	PUNCT
dem-11741	316	23	sgn	sgn	NOUN
dem-11741	316	24	)	)	PUNCT
dem-11741	316	25	armax(1,1)garch(1,1	armax(1,1)garch(1,1	ADJ
dem-11741	316	26	)	)	PUNCT
dem-11741	316	27	,	,	PUNCT
dem-11741	316	28	t	t	PROPN
dem-11741	316	29	-	-	PUNCT
dem-11741	316	30	student	student	NOUN
dem-11741	316	31	distribution	distribution	NOUN
dem-11741	316	32	0.349	0.349	NUM
dem-11741	316	33	[	[	X
dem-11741	316	34	0.086	0.086	NUM
dem-11741	316	35	]	]	X
dem-11741	316	36	all	all	DET
dem-11741	316	37	additional	additional	ADJ
dem-11741	316	38	market	market	NOUN
dem-11741	316	39	variables	variable	NOUN
dem-11741	316	40	have	have	VERB
dem-11741	316	41	statistically	statistically	ADV
dem-11741	316	42	insignificant	insignificant	ADJ
dem-11741	316	43	impact	impact	NOUN
dem-11741	316	44	on	on	ADP
dem-11741	316	45	the	the	DET
dem-11741	316	46	firm	firm	ADJ
dem-11741	316	47	volatility	volatility	NOUN
dem-11741	316	48	–	–	PUNCT
dem-11741	316	49	elimination	elimination	NOUN
dem-11741	316	50	from	from	ADP
dem-11741	316	51	the	the	DET
dem-11741	316	52	model	model	NOUN
dem-11741	316	53	wasko	wasko	ADV
dem-11741	316	54	(	(	PUNCT
dem-11741	316	55	was	be	AUX
dem-11741	316	56	)	)	PUNCT
dem-11741	316	57	armax(1,1	armax(1,1	ADJ
dem-11741	316	58	)	)	PUNCT
dem-11741	316	59	garch(1,1	garch(1,1	NOUN
dem-11741	316	60	)	)	PUNCT
dem-11741	316	61	,	,	PUNCT
dem-11741	316	62	t	t	PROPN
dem-11741	316	63	-	-	PUNCT
dem-11741	316	64	student	student	NOUN
dem-11741	316	65	distribution	distribution	NOUN
dem-11741	316	66	0.719	0.719	NUM
dem-11741	316	67	[	[	X
dem-11741	316	68	0.056	0.056	NUM
dem-11741	316	69	]	]	X
dem-11741	316	70	all	all	DET
dem-11741	316	71	additional	additional	ADJ
dem-11741	316	72	market	market	NOUN
dem-11741	316	73	variables	variable	NOUN
dem-11741	316	74	have	have	VERB
dem-11741	316	75	statistically	statistically	ADV
dem-11741	316	76	insignificant	insignificant	ADJ
dem-11741	316	77	impact	impact	NOUN
dem-11741	316	78	on	on	ADP
dem-11741	316	79	the	the	DET
dem-11741	316	80	firm	firm	ADJ
dem-11741	316	81	volatility	volatility	NOUN
dem-11741	316	82	–	–	PUNCT
dem-11741	316	83	elimination	elimination	NOUN
dem-11741	316	84	from	from	ADP
dem-11741	316	85	the	the	DET
dem-11741	316	86	model	model	NOUN
dem-11741	316	87	note	note	NOUN
dem-11741	316	88	:	:	PUNCT
dem-11741	316	89	p	p	X
dem-11741	316	90	-	-	PUNCT
dem-11741	316	91	value	value	NOUN
dem-11741	316	92	in	in	ADP
dem-11741	316	93	brackets	bracket	NOUN
dem-11741	316	94	.	.	PUNCT
dem-11741	317	1	5	5	NUM
dem-11741	317	2	it	it	PRON
dem-11741	317	3	is	be	AUX
dem-11741	317	4	worth	worth	ADJ
dem-11741	317	5	underlining	underline	VERB
dem-11741	317	6	that	that	PRON
dem-11741	317	7	for	for	SCONJ
dem-11741	317	8	both	both	CCONJ
dem-11741	317	9	the	the	DET
dem-11741	317	10	construction	construction	NOUN
dem-11741	317	11	and	and	CCONJ
dem-11741	317	12	it	it	PRON
dem-11741	317	13	sectors	sector	VERB
dem-11741	317	14	there	there	ADV
dem-11741	317	15	were	be	AUX
dem-11741	317	16	no	no	DET
dem-11741	317	17	reasons	reason	NOUN
dem-11741	317	18	for	for	ADP
dem-11741	317	19	changing	change	VERB
dem-11741	317	20	the	the	DET
dem-11741	317	21	basic	basic	ADJ
dem-11741	317	22	specification	specification	NOUN
dem-11741	317	23	of	of	ADP
dem-11741	317	24	firm	firm	ADJ
dem-11741	317	25	volatility	volatility	NOUN
dem-11741	317	26	models	model	NOUN
dem-11741	317	27	to	to	ADP
dem-11741	317	28	exponential	exponential	ADJ
dem-11741	317	29	garch	garch	NOUN
dem-11741	317	30	model	model	NOUN
dem-11741	317	31	,	,	PUNCT
dem-11741	317	32	which	which	PRON
dem-11741	317	33	enables	enable	VERB
dem-11741	317	34	capturing	capture	VERB
dem-11741	317	35	the	the	DET
dem-11741	317	36	asymmetric	asymmetric	ADJ
dem-11741	317	37	effect	effect	NOUN
dem-11741	317	38	of	of	ADP
dem-11741	317	39	negative	negative	ADJ
dem-11741	317	40	and	and	CCONJ
dem-11741	317	41	positive	positive	ADJ
dem-11741	317	42	shocks	shock	NOUN
dem-11741	317	43	for	for	ADP
dem-11741	317	44	conditional	conditional	ADJ
dem-11741	317	45	variance	variance	NOUN
dem-11741	317	46	(	(	PUNCT
dem-11741	317	47	results	result	NOUN
dem-11741	317	48	of	of	ADP
dem-11741	317	49	sign	sign	NOUN
dem-11741	317	50	bias	bias	NOUN
dem-11741	317	51	tests	test	NOUN
dem-11741	317	52	)	)	PUNCT
dem-11741	317	53	.	.	PUNCT
dem-11741	318	1	but	but	CCONJ
dem-11741	318	2	for	for	ADP
dem-11741	318	3	deepening	deepen	VERB
dem-11741	318	4	the	the	DET
dem-11741	318	5	studies	study	NOUN
dem-11741	318	6	over	over	ADP
dem-11741	318	7	the	the	DET
dem-11741	318	8	linkage	linkage	NOUN
dem-11741	318	9	between	between	ADP
dem-11741	318	10	market	market	NOUN
dem-11741	318	11	volatility	volatility	NOUN
dem-11741	318	12	and	and	CCONJ
dem-11741	318	13	firm	firm	ADJ
dem-11741	318	14	volatility	volatility	NOUN
dem-11741	318	15	on	on	ADP
dem-11741	318	16	the	the	DET
dem-11741	318	17	polish	polish	ADJ
dem-11741	318	18	capital	capital	NOUN
dem-11741	318	19	market	market	NOUN
dem-11741	318	20	we	we	PRON
dem-11741	318	21	will	will	AUX
dem-11741	318	22	use	use	VERB
dem-11741	318	23	the	the	DET
dem-11741	318	24	asymmetric	asymmetric	ADJ
dem-11741	318	25	multivariate	multivariate	NOUN
dem-11741	318	26	garch	garch	NOUN
dem-11741	318	27	structure	structure	NOUN
dem-11741	318	28	in	in	ADP
dem-11741	318	29	near	near	ADJ
dem-11741	318	30	future	future	NOUN
dem-11741	318	31	.	.	PUNCT
dem-11741	319	1	włodarczyk	włodarczyk	INTJ
dem-11741	319	2	,	,	PUNCT
dem-11741	319	3	otola	otola	PROPN
dem-11741	319	4	dynamic	dynamic	ADJ
dem-11741	319	5	econometric	econometric	ADJ
dem-11741	319	6	models	model	NOUN
dem-11741	319	7	16	16	NUM
dem-11741	319	8	(	(	PUNCT
dem-11741	319	9	2016	2016	NUM
dem-11741	319	10	)	)	PUNCT
dem-11741	320	1	87–116	87–116	PROPN
dem-11741	320	2	110	110	NUM
dem-11741	320	3	on	on	ADP
dem-11741	320	4	the	the	DET
dem-11741	320	5	warsaw	warsaw	PROPN
dem-11741	320	6	stock	stock	PROPN
dem-11741	320	7	exchange	exchange	PROPN
dem-11741	320	8	shows	show	VERB
dem-11741	320	9	that	that	SCONJ
dem-11741	320	10	in	in	ADP
dem-11741	320	11	the	the	DET
dem-11741	320	12	stable	stable	ADJ
dem-11741	320	13	period	period	NOUN
dem-11741	320	14	80	80	NUM
dem-11741	320	15	%	%	NOUN
dem-11741	320	16	of	of	ADP
dem-11741	320	17	analyzed	analyze	VERB
dem-11741	320	18	enterprises	enterprise	NOUN
dem-11741	320	19	were	be	AUX
dem-11741	320	20	sensitive	sensitive	ADJ
dem-11741	320	21	to	to	ADP
dem-11741	320	22	the	the	DET
dem-11741	320	23	wig	wig	NOUN
dem-11741	320	24	index	index	NOUN
dem-11741	320	25	volatility	volatility	NOUN
dem-11741	320	26	,	,	PUNCT
dem-11741	320	27	while	while	SCONJ
dem-11741	320	28	in	in	ADP
dem-11741	320	29	the	the	DET
dem-11741	320	30	turbulent	turbulent	ADJ
dem-11741	320	31	period	period	NOUN
dem-11741	320	32	the	the	DET
dem-11741	320	33	fraction	fraction	NOUN
dem-11741	320	34	of	of	ADP
dem-11741	320	35	these	these	DET
dem-11741	320	36	enterprises	enterprise	NOUN
dem-11741	320	37	dropped	drop	VERB
dem-11741	320	38	to	to	ADP
dem-11741	320	39	65	65	NUM
dem-11741	320	40	%	%	NOUN
dem-11741	320	41	.	.	PUNCT
dem-11741	321	1	table	table	NOUN
dem-11741	321	2	8	8	NUM
dem-11741	321	3	.	.	PUNCT
dem-11741	322	1	results	result	NOUN
dem-11741	322	2	on	on	ADP
dem-11741	322	3	commonality	commonality	NOUN
dem-11741	322	4	in	in	ADP
dem-11741	322	5	volatility	volatility	NOUN
dem-11741	322	6	for	for	ADP
dem-11741	322	7	it	it	PRON
dem-11741	322	8	sector	sector	NOUN
dem-11741	322	9	in	in	ADP
dem-11741	322	10	turbulent	turbulent	ADJ
dem-11741	322	11	period	period	NOUN
dem-11741	322	12	company	company	NOUN
dem-11741	322	13	model	model	NOUN
dem-11741	322	14	specification	specification	NOUN
dem-11741	322	15	estimate	estimate	NOUN
dem-11741	322	16	of	of	ADP
dem-11741	322	17	vm	vm	PROPN
dem-11741	322	18	,	,	PUNCT
dem-11741	322	19	t_wig	t_wig	DET
dem-11741	322	20	parameter	parameter	NOUN
dem-11741	322	21	significance	significance	NOUN
dem-11741	322	22	of	of	ADP
dem-11741	322	23	the	the	DET
dem-11741	322	24	influence	influence	NOUN
dem-11741	322	25	of	of	ADP
dem-11741	322	26	others	other	NOUN
dem-11741	322	27	market	market	NOUN
dem-11741	322	28	variables	variable	NOUN
dem-11741	322	29	(	(	PUNCT
dem-11741	322	30	vm	vm	PROPN
dem-11741	322	31	,	,	PUNCT
dem-11741	322	32	t-1_wig	t-1_wig	PROPN
dem-11741	322	33	,	,	PUNCT
dem-11741	322	34	rm	rm	PROPN
dem-11741	322	35	,	,	PUNCT
dem-11741	322	36	t	t	PROPN
dem-11741	322	37	,	,	PUNCT
dem-11741	322	38	rm	rm	PROPN
dem-11741	322	39	,	,	PUNCT
dem-11741	322	40	t	t	PROPN
dem-11741	322	41	2	2	NUM
dem-11741	322	42	)	)	PUNCT
dem-11741	322	43	on	on	ADP
dem-11741	322	44	firm	firm	ADJ
dem-11741	322	45	volatility	volatility	NOUN
dem-11741	322	46	sygnity	sygnity	NOUN
dem-11741	322	47	(	(	PUNCT
dem-11741	322	48	sgn	sgn	NOUN
dem-11741	322	49	)	)	PUNCT
dem-11741	322	50	armax(1,1)garch(1,1	armax(1,1)garch(1,1	ADJ
dem-11741	322	51	)	)	PUNCT
dem-11741	322	52	,	,	PUNCT
dem-11741	322	53	t	t	PROPN
dem-11741	322	54	-	-	PUNCT
dem-11741	322	55	student	student	NOUN
dem-11741	322	56	distribution	distribution	NOUN
dem-11741	322	57	0.633	0.633	NUM
dem-11741	323	1	[	[	X
dem-11741	323	2	0.005	0.005	NUM
dem-11741	323	3	]	]	PUNCT
dem-11741	323	4	all	all	DET
dem-11741	323	5	additional	additional	ADJ
dem-11741	323	6	market	market	NOUN
dem-11741	323	7	variables	variable	NOUN
dem-11741	323	8	have	have	VERB
dem-11741	323	9	statistically	statistically	ADV
dem-11741	323	10	insignificant	insignificant	ADJ
dem-11741	323	11	impact	impact	NOUN
dem-11741	323	12	on	on	ADP
dem-11741	323	13	the	the	DET
dem-11741	323	14	firm	firm	ADJ
dem-11741	323	15	volatility	volatility	NOUN
dem-11741	323	16	–	–	PUNCT
dem-11741	323	17	elimination	elimination	NOUN
dem-11741	323	18	from	from	ADP
dem-11741	323	19	the	the	DET
dem-11741	323	20	model	model	NOUN
dem-11741	323	21	calatrava	calatrava	PROPN
dem-11741	323	22	capital	capital	PROPN
dem-11741	323	23	(	(	PUNCT
dem-11741	323	24	ctc	ctc	PROPN
dem-11741	323	25	)	)	PUNCT
dem-11741	323	26	arfimax(1,0.049,1)garch(1,1	arfimax(1,0.049,1)garch(1,1	PROPN
dem-11741	323	27	)	)	PUNCT
dem-11741	323	28	,	,	PUNCT
dem-11741	323	29	t	t	PROPN
dem-11741	323	30	-	-	PUNCT
dem-11741	323	31	student	student	NOUN
dem-11741	323	32	distribution	distribution	NOUN
dem-11741	323	33	1.401	1.401	NUM
dem-11741	323	34	[	[	X
dem-11741	323	35	0.013	0.013	NUM
dem-11741	323	36	]	]	X
dem-11741	323	37	all	all	DET
dem-11741	323	38	additional	additional	ADJ
dem-11741	323	39	market	market	NOUN
dem-11741	323	40	variables	variable	NOUN
dem-11741	323	41	have	have	VERB
dem-11741	323	42	statistically	statistically	ADV
dem-11741	323	43	insignificant	insignificant	ADJ
dem-11741	323	44	impact	impact	NOUN
dem-11741	323	45	on	on	ADP
dem-11741	323	46	the	the	DET
dem-11741	323	47	firm	firm	ADJ
dem-11741	323	48	volatility	volatility	NOUN
dem-11741	323	49	–	–	PUNCT
dem-11741	323	50	elimination	elimination	NOUN
dem-11741	323	51	from	from	ADP
dem-11741	323	52	the	the	DET
dem-11741	323	53	model	model	NOUN
dem-11741	324	1	zuk	zuk	PROPN
dem-11741	324	2	elzab	elzab	PROPN
dem-11741	324	3	(	(	PUNCT
dem-11741	324	4	elz	elz	PROPN
dem-11741	324	5	)	)	PUNCT
dem-11741	324	6	armax(1,1)figarch(1,0.39,1	armax(1,1)figarch(1,0.39,1	PROPN
dem-11741	324	7	)	)	PUNCT
dem-11741	324	8	,	,	PUNCT
dem-11741	324	9	t	t	PROPN
dem-11741	324	10	-	-	PUNCT
dem-11741	324	11	student	student	NOUN
dem-11741	324	12	distribution	distribution	NOUN
dem-11741	324	13	1.494	1.494	NUM
dem-11741	324	14	[	[	NOUN
dem-11741	324	15	0.036	0.036	X
dem-11741	324	16	]	]	X
dem-11741	324	17	all	all	DET
dem-11741	324	18	additional	additional	ADJ
dem-11741	324	19	market	market	NOUN
dem-11741	324	20	variables	variable	NOUN
dem-11741	324	21	have	have	AUX
dem-11741	324	22	statistically	statistically	ADV
dem-11741	324	23	insignificant	insignificant	ADJ
dem-11741	324	24	impact	impact	NOUN
dem-11741	324	25	on	on	ADP
dem-11741	324	26	the	the	DET
dem-11741	324	27	firm	firm	ADJ
dem-11741	324	28	volatility	volatility	NOUN
dem-11741	324	29	–	–	PUNCT
dem-11741	324	30	elimination	elimination	NOUN
dem-11741	324	31	from	from	ADP
dem-11741	324	32	the	the	DET
dem-11741	324	33	model	model	NOUN
dem-11741	324	34	asseco	asseco	PROPN
dem-11741	324	35	poland	poland	PROPN
dem-11741	324	36	(	(	PUNCT
dem-11741	324	37	acp	acp	PROPN
dem-11741	324	38	)	)	PUNCT
dem-11741	324	39	arfimax(1,0.64,1)garch(1,1),skewed	arfimax(1,0.64,1)garch(1,1),skewe	VERB
dem-11741	324	40	t	t	PROPN
dem-11741	324	41	-	-	PUNCT
dem-11741	324	42	student	student	NOUN
dem-11741	324	43	distribution	distribution	NOUN
dem-11741	324	44	1.381	1.381	NUM
dem-11741	325	1	[	[	X
dem-11741	325	2	0.000	0.000	NUM
dem-11741	325	3	]	]	X
dem-11741	325	4	all	all	DET
dem-11741	325	5	additional	additional	ADJ
dem-11741	325	6	market	market	NOUN
dem-11741	325	7	variables	variable	NOUN
dem-11741	325	8	have	have	VERB
dem-11741	325	9	statistically	statistically	ADV
dem-11741	325	10	insignificant	insignificant	ADJ
dem-11741	325	11	impact	impact	NOUN
dem-11741	325	12	on	on	ADP
dem-11741	325	13	the	the	DET
dem-11741	325	14	firm	firm	ADJ
dem-11741	325	15	volatility	volatility	NOUN
dem-11741	325	16	–	–	PUNCT
dem-11741	325	17	elimination	elimination	NOUN
dem-11741	325	18	from	from	ADP
dem-11741	325	19	the	the	DET
dem-11741	325	20	model	model	NOUN
dem-11741	325	21	comarch	comarch	PROPN
dem-11741	325	22	(	(	PUNCT
dem-11741	325	23	cmr	cmr	PROPN
dem-11741	325	24	)	)	PUNCT
dem-11741	325	25	arfimax(1,0.07,1)figarch(1,0.31,1	arfimax(1,0.07,1)figarch(1,0.31,1	PROPN
dem-11741	325	26	)	)	PUNCT
dem-11741	325	27	,	,	PUNCT
dem-11741	325	28	t	t	PROPN
dem-11741	325	29	-	-	PUNCT
dem-11741	325	30	student	student	NOUN
dem-11741	325	31	distribution	distribution	NOUN
dem-11741	325	32	0.085	0.085	NUM
dem-11741	325	33	[	[	X
dem-11741	325	34	0.410	0.410	NUM
dem-11741	325	35	]	]	X
dem-11741	325	36	rm	rm	PROPN
dem-11741	325	37	,	,	PUNCT
dem-11741	325	38	t	t	PROPN
dem-11741	325	39	2	2	NUM
dem-11741	325	40	:	:	PUNCT
dem-11741	325	41	0.011	0.011	NUM
dem-11741	325	42	[	[	NOUN
dem-11741	325	43	0.005	0.005	NUM
dem-11741	325	44	]	]	X
dem-11741	325	45	macrologic	macrologic	ADV
dem-11741	325	46	(	(	PUNCT
dem-11741	325	47	mcl	mcl	PROPN
dem-11741	325	48	)	)	PUNCT
dem-11741	325	49	arfimax(1,0.08,1)figarch(1,0.7,1	arfimax(1,0.08,1)figarch(1,0.7,1	PROPN
dem-11741	325	50	)	)	PUNCT
dem-11741	325	51	,	,	PUNCT
dem-11741	325	52	t	t	PROPN
dem-11741	325	53	-	-	PUNCT
dem-11741	325	54	student	student	NOUN
dem-11741	325	55	distribution	distribution	NOUN
dem-11741	325	56	0.020	0.020	NUM
dem-11741	326	1	[	[	X
dem-11741	326	2	0.000	0.000	NUM
dem-11741	326	3	]	]	X
dem-11741	326	4	all	all	DET
dem-11741	326	5	additional	additional	ADJ
dem-11741	326	6	market	market	NOUN
dem-11741	326	7	variables	variable	NOUN
dem-11741	326	8	have	have	VERB
dem-11741	326	9	statistically	statistically	ADV
dem-11741	326	10	insignificant	insignificant	ADJ
dem-11741	326	11	impact	impact	NOUN
dem-11741	326	12	on	on	ADP
dem-11741	326	13	the	the	DET
dem-11741	326	14	firm	firm	ADJ
dem-11741	326	15	volatility	volatility	NOUN
dem-11741	326	16	–	–	PUNCT
dem-11741	326	17	elimination	elimination	NOUN
dem-11741	326	18	from	from	ADP
dem-11741	326	19	the	the	DET
dem-11741	326	20	model	model	NOUN
dem-11741	326	21	talex	talex	NOUN
dem-11741	326	22	(	(	PUNCT
dem-11741	326	23	tlx	tlx	NOUN
dem-11741	326	24	)	)	PUNCT
dem-11741	326	25	arfimax(2,0.044,0)garch(1,1	arfimax(2,0.044,0)garch(1,1	PROPN
dem-11741	326	26	)	)	PUNCT
dem-11741	326	27	,	,	PUNCT
dem-11741	326	28	t	t	PROPN
dem-11741	326	29	-	-	PUNCT
dem-11741	326	30	student	student	NOUN
dem-11741	326	31	distribution	distribution	NOUN
dem-11741	326	32	–	–	PUNCT
dem-11741	326	33	0.008	0.008	NUM
dem-11741	327	1	[	[	X
dem-11741	327	2	0.942	0.942	NUM
dem-11741	327	3	]	]	X
dem-11741	327	4	all	all	DET
dem-11741	327	5	additional	additional	ADJ
dem-11741	327	6	market	market	NOUN
dem-11741	327	7	variables	variable	NOUN
dem-11741	327	8	have	have	VERB
dem-11741	327	9	statistically	statistically	ADV
dem-11741	327	10	insignificant	insignificant	ADJ
dem-11741	327	11	impact	impact	NOUN
dem-11741	327	12	on	on	ADP
dem-11741	327	13	the	the	DET
dem-11741	327	14	firm	firm	ADJ
dem-11741	327	15	volatility	volatility	NOUN
dem-11741	327	16	–	–	PUNCT
dem-11741	327	17	elimination	elimination	NOUN
dem-11741	327	18	from	from	ADP
dem-11741	327	19	the	the	DET
dem-11741	327	20	model	model	NOUN
dem-11741	328	1	simple	simple	ADJ
dem-11741	328	2	(	(	PUNCT
dem-11741	328	3	sme	sme	NOUN
dem-11741	328	4	)	)	PUNCT
dem-11741	328	5	armax(1,1)garch(1,1	armax(1,1)garch(1,1	ADJ
dem-11741	328	6	)	)	PUNCT
dem-11741	328	7	,	,	PUNCT
dem-11741	328	8	t	t	PROPN
dem-11741	328	9	-	-	PUNCT
dem-11741	328	10	student	student	NOUN
dem-11741	328	11	distribution	distribution	NOUN
dem-11741	328	12	0.365	0.365	NUM
dem-11741	329	1	[	[	X
dem-11741	329	2	0.203	0.203	NUM
dem-11741	329	3	]	]	X
dem-11741	329	4	all	all	DET
dem-11741	329	5	additional	additional	ADJ
dem-11741	329	6	market	market	NOUN
dem-11741	329	7	variables	variable	NOUN
dem-11741	329	8	have	have	VERB
dem-11741	329	9	statistically	statistically	ADV
dem-11741	329	10	insignificant	insignificant	ADJ
dem-11741	329	11	impact	impact	NOUN
dem-11741	329	12	on	on	ADP
dem-11741	329	13	the	the	DET
dem-11741	329	14	firm	firm	ADJ
dem-11741	329	15	volatility	volatility	NOUN
dem-11741	329	16	–	–	PUNCT
dem-11741	329	17	elimination	elimination	NOUN
dem-11741	329	18	from	from	ADP
dem-11741	329	19	the	the	DET
dem-11741	329	20	model	model	NOUN
dem-11741	329	21	wasko	wasko	ADV
dem-11741	329	22	(	(	PUNCT
dem-11741	329	23	was	be	AUX
dem-11741	329	24	)	)	PUNCT
dem-11741	329	25	armax(1,1)garch(1,1	armax(1,1)garch(1,1	ADJ
dem-11741	329	26	)	)	PUNCT
dem-11741	329	27	,	,	PUNCT
dem-11741	329	28	skewed	skewed	PROPN
dem-11741	329	29	t	t	PROPN
dem-11741	329	30	-	-	PUNCT
dem-11741	329	31	student	student	NOUN
dem-11741	329	32	distribution	distribution	NOUN
dem-11741	329	33	0.073	0.073	NUM
dem-11741	329	34	[	[	X
dem-11741	329	35	0.326	0.326	NUM
dem-11741	329	36	]	]	PUNCT
dem-11741	329	37	all	all	DET
dem-11741	329	38	additional	additional	ADJ
dem-11741	329	39	market	market	NOUN
dem-11741	329	40	variables	variable	NOUN
dem-11741	329	41	have	have	VERB
dem-11741	329	42	statistically	statistically	ADV
dem-11741	329	43	insignificant	insignificant	ADJ
dem-11741	329	44	impact	impact	NOUN
dem-11741	329	45	on	on	ADP
dem-11741	329	46	the	the	DET
dem-11741	329	47	firm	firm	ADJ
dem-11741	329	48	volatility	volatility	NOUN
dem-11741	329	49	–	–	PUNCT
dem-11741	329	50	elimination	elimination	NOUN
dem-11741	329	51	from	from	ADP
dem-11741	329	52	the	the	DET
dem-11741	329	53	model	model	NOUN
dem-11741	329	54	cd	cd	PROPN
dem-11741	329	55	project	project	NOUN
dem-11741	329	56	red	red	PROPN
dem-11741	329	57	(	(	PUNCT
dem-11741	329	58	cdr	cdr	NOUN
dem-11741	329	59	)	)	PUNCT
dem-11741	329	60	armax(1,1)garch(1,1	armax(1,1)garch(1,1	ADJ
dem-11741	329	61	)	)	PUNCT
dem-11741	329	62	,	,	PUNCT
dem-11741	329	63	t	t	PROPN
dem-11741	329	64	-	-	PUNCT
dem-11741	329	65	student	student	NOUN
dem-11741	329	66	distribution	distribution	NOUN
dem-11741	329	67	2.180	2.180	NUM
dem-11741	330	1	[	[	X
dem-11741	330	2	0.000	0.000	NUM
dem-11741	330	3	]	]	X
dem-11741	330	4	all	all	DET
dem-11741	330	5	additional	additional	ADJ
dem-11741	330	6	market	market	NOUN
dem-11741	330	7	variables	variable	NOUN
dem-11741	330	8	have	have	VERB
dem-11741	330	9	statistically	statistically	ADV
dem-11741	330	10	insignificant	insignificant	ADJ
dem-11741	330	11	impact	impact	NOUN
dem-11741	330	12	on	on	ADP
dem-11741	330	13	the	the	DET
dem-11741	330	14	firm	firm	ADJ
dem-11741	330	15	volatility	volatility	NOUN
dem-11741	330	16	–	–	PUNCT
dem-11741	330	17	elimination	elimination	NOUN
dem-11741	330	18	from	from	ADP
dem-11741	330	19	the	the	DET
dem-11741	330	20	model	model	NOUN
dem-11741	330	21	betacom	betacom	PROPN
dem-11741	330	22	(	(	PUNCT
dem-11741	330	23	bcm	bcm	NOUN
dem-11741	330	24	)	)	PUNCT
dem-11741	330	25	armax(1,1)garch(1,1	armax(1,1)garch(1,1	ADJ
dem-11741	330	26	)	)	PUNCT
dem-11741	330	27	,	,	PUNCT
dem-11741	330	28	t	t	PROPN
dem-11741	330	29	-	-	PUNCT
dem-11741	330	30	student	student	NOUN
dem-11741	330	31	distribution	distribution	NOUN
dem-11741	330	32	0.706	0.706	NUM
dem-11741	331	1	[	[	X
dem-11741	331	2	0.000	0.000	NUM
dem-11741	331	3	]	]	X
dem-11741	331	4	all	all	DET
dem-11741	331	5	additional	additional	ADJ
dem-11741	331	6	market	market	NOUN
dem-11741	331	7	variables	variable	NOUN
dem-11741	331	8	have	have	VERB
dem-11741	331	9	statistically	statistically	ADV
dem-11741	331	10	insignificant	insignificant	ADJ
dem-11741	331	11	impact	impact	NOUN
dem-11741	331	12	on	on	ADP
dem-11741	331	13	the	the	DET
dem-11741	331	14	firm	firm	ADJ
dem-11741	331	15	volatility	volatility	NOUN
dem-11741	331	16	–	–	PUNCT
dem-11741	331	17	elimination	elimination	NOUN
dem-11741	331	18	from	from	ADP
dem-11741	331	19	the	the	DET
dem-11741	331	20	model	model	NOUN
dem-11741	331	21	atm	atm	PROPN
dem-11741	331	22	(	(	PUNCT
dem-11741	331	23	atm	atm	NOUN
dem-11741	331	24	)	)	PUNCT
dem-11741	331	25	armax(1,1)garch(1,1	armax(1,1)garch(1,1	ADJ
dem-11741	331	26	)	)	PUNCT
dem-11741	331	27	,	,	PUNCT
dem-11741	331	28	t	t	PROPN
dem-11741	331	29	-	-	PUNCT
dem-11741	331	30	student	student	NOUN
dem-11741	331	31	distribution	distribution	NOUN
dem-11741	331	32	0.554	0.554	NUM
dem-11741	331	33	[	[	X
dem-11741	331	34	0.049	0.049	NUM
dem-11741	331	35	]	]	X
dem-11741	331	36	all	all	DET
dem-11741	331	37	additional	additional	ADJ
dem-11741	331	38	market	market	NOUN
dem-11741	331	39	variables	variable	NOUN
dem-11741	331	40	have	have	VERB
dem-11741	331	41	statistically	statistically	ADV
dem-11741	331	42	insignificant	insignificant	ADJ
dem-11741	331	43	impact	impact	NOUN
dem-11741	331	44	on	on	ADP
dem-11741	331	45	the	the	DET
dem-11741	331	46	firm	firm	ADJ
dem-11741	331	47	volatility	volatility	NOUN
dem-11741	331	48	–	–	PUNCT
dem-11741	331	49	elimination	elimination	NOUN
dem-11741	331	50	from	from	ADP
dem-11741	331	51	the	the	DET
dem-11741	331	52	model	model	NOUN
dem-11741	331	53	comp	comp	PROPN
dem-11741	331	54	(	(	PUNCT
dem-11741	331	55	cmp	cmp	NOUN
dem-11741	331	56	)	)	PUNCT
dem-11741	331	57	armax(1,1)garch(1,1	armax(1,1)garch(1,1	ADJ
dem-11741	331	58	)	)	PUNCT
dem-11741	331	59	,	,	PUNCT
dem-11741	331	60	t	t	PROPN
dem-11741	331	61	-	-	PUNCT
dem-11741	331	62	student	student	NOUN
dem-11741	331	63	distribution	distribution	NOUN
dem-11741	331	64	0.188	0.188	NUM
dem-11741	331	65	[	[	X
dem-11741	331	66	0.080	0.080	X
dem-11741	331	67	]	]	X
dem-11741	331	68	all	all	DET
dem-11741	331	69	additional	additional	ADJ
dem-11741	331	70	market	market	NOUN
dem-11741	331	71	variables	variable	NOUN
dem-11741	331	72	have	have	VERB
dem-11741	331	73	statistically	statistically	ADV
dem-11741	331	74	insignificant	insignificant	ADJ
dem-11741	331	75	impact	impact	NOUN
dem-11741	331	76	on	on	ADP
dem-11741	331	77	the	the	DET
dem-11741	331	78	firm	firm	ADJ
dem-11741	331	79	volatility	volatility	NOUN
dem-11741	331	80	–	–	PUNCT
dem-11741	331	81	elimination	elimination	NOUN
dem-11741	331	82	from	from	ADP
dem-11741	331	83	the	the	DET
dem-11741	331	84	model	model	NOUN
dem-11741	331	85	analysis	analysis	NOUN
dem-11741	331	86	of	of	ADP
dem-11741	331	87	the	the	DET
dem-11741	331	88	relationship	relationship	NOUN
dem-11741	331	89	between	between	ADP
dem-11741	331	90	market	market	NOUN
dem-11741	331	91	volatility	volatility	NOUN
dem-11741	331	92	and	and	CCONJ
dem-11741	331	93	firms	firm	NOUN
dem-11741	331	94	volatility	volatility	NOUN
dem-11741	331	95	…	…	SYM
dem-11741	331	96	dynamic	dynamic	ADJ
dem-11741	331	97	econometric	econometric	ADJ
dem-11741	331	98	models	model	NOUN
dem-11741	331	99	16	16	NUM
dem-11741	331	100	(	(	PUNCT
dem-11741	331	101	2016	2016	NUM
dem-11741	331	102	)	)	PUNCT
dem-11741	332	1	87–116	87–116	PROPN
dem-11741	332	2	111	111	NUM
dem-11741	332	3	table	table	NOUN
dem-11741	332	4	8	8	NUM
dem-11741	332	5	.	.	PUNCT
dem-11741	332	6	continued	continue	VERB
dem-11741	332	7	company	company	NOUN
dem-11741	332	8	model	model	NOUN
dem-11741	332	9	specification	specification	NOUN
dem-11741	332	10	estimate	estimate	NOUN
dem-11741	332	11	of	of	ADP
dem-11741	332	12	vm	vm	PROPN
dem-11741	332	13	,	,	PUNCT
dem-11741	332	14	t_wig	t_wig	PRON
dem-11741	332	15	parameter	parameter	NOUN
dem-11741	332	16	significance	significance	NOUN
dem-11741	332	17	of	of	ADP
dem-11741	332	18	the	the	DET
dem-11741	332	19	influence	influence	NOUN
dem-11741	332	20	of	of	ADP
dem-11741	332	21	others	other	NOUN
dem-11741	332	22	market	market	NOUN
dem-11741	332	23	variables	variable	NOUN
dem-11741	332	24	(	(	PUNCT
dem-11741	332	25	vm	vm	PROPN
dem-11741	332	26	,	,	PUNCT
dem-11741	332	27	t-1_wig	t-1_wig	PROPN
dem-11741	332	28	,	,	PUNCT
dem-11741	332	29	rm	rm	PROPN
dem-11741	332	30	,	,	PUNCT
dem-11741	332	31	t	t	PROPN
dem-11741	332	32	,	,	PUNCT
dem-11741	332	33	rm	rm	PROPN
dem-11741	332	34	,	,	PUNCT
dem-11741	332	35	t	t	PROPN
dem-11741	332	36	2	2	NUM
dem-11741	332	37	)	)	PUNCT
dem-11741	332	38	on	on	ADP
dem-11741	332	39	firm	firm	ADJ
dem-11741	332	40	volatility	volatility	NOUN
dem-11741	332	41	pc	pc	NOUN
dem-11741	332	42	guard	guard	NOUN
dem-11741	332	43	(	(	PUNCT
dem-11741	332	44	pcg	pcg	PROPN
dem-11741	332	45	)	)	PUNCT
dem-11741	332	46	arfimax(1,0.002,1)garch(1,1	arfimax(1,0.002,1)garch(1,1	PROPN
dem-11741	332	47	)	)	PUNCT
dem-11741	332	48	,	,	PUNCT
dem-11741	332	49	t	t	NOUN
dem-11741	332	50	-	-	PUNCT
dem-11741	332	51	student	student	NOUN
dem-11741	332	52	distribution	distribution	NOUN
dem-11741	332	53	0.003	0.003	NUM
dem-11741	332	54	[	[	NOUN
dem-11741	332	55	0.731	0.731	NUM
dem-11741	332	56	]	]	X
dem-11741	332	57	all	all	DET
dem-11741	332	58	additional	additional	ADJ
dem-11741	332	59	market	market	NOUN
dem-11741	332	60	variables	variable	NOUN
dem-11741	332	61	have	have	VERB
dem-11741	332	62	statistically	statistically	ADV
dem-11741	332	63	insignificant	insignificant	ADJ
dem-11741	332	64	impact	impact	NOUN
dem-11741	332	65	on	on	ADP
dem-11741	332	66	the	the	DET
dem-11741	332	67	firm	firm	ADJ
dem-11741	332	68	volatility	volatility	NOUN
dem-11741	332	69	–	–	PUNCT
dem-11741	332	70	elimination	elimination	NOUN
dem-11741	332	71	from	from	ADP
dem-11741	332	72	the	the	DET
dem-11741	332	73	model	model	NOUN
dem-11741	332	74	,	,	PUNCT
dem-11741	332	75	problem	problem	NOUN
dem-11741	332	76	with	with	ADP
dem-11741	332	77	parameters	parameter	NOUN
dem-11741	332	78	’	’	PART
dem-11741	332	79	stability	stability	NOUN
dem-11741	332	80	qumaksekom	qumaksekom	NOUN
dem-11741	332	81	(	(	PUNCT
dem-11741	332	82	qsm	qsm	PROPN
dem-11741	332	83	)	)	PUNCT
dem-11741	332	84	armax(1,1)garch(1,1	armax(1,1)garch(1,1	ADJ
dem-11741	332	85	)	)	PUNCT
dem-11741	332	86	,	,	PUNCT
dem-11741	332	87	t	t	PROPN
dem-11741	332	88	-	-	PUNCT
dem-11741	332	89	student	student	NOUN
dem-11741	332	90	distribution	distribution	NOUN
dem-11741	332	91	0.271	0.271	NUM
dem-11741	332	92	[	[	X
dem-11741	332	93	0.021	0.021	NUM
dem-11741	332	94	]	]	X
dem-11741	332	95	all	all	DET
dem-11741	332	96	additional	additional	ADJ
dem-11741	332	97	market	market	NOUN
dem-11741	332	98	variables	variable	NOUN
dem-11741	332	99	have	have	VERB
dem-11741	332	100	statistically	statistically	ADV
dem-11741	332	101	insignificant	insignificant	ADJ
dem-11741	332	102	impact	impact	NOUN
dem-11741	332	103	on	on	ADP
dem-11741	332	104	the	the	DET
dem-11741	332	105	firm	firm	ADJ
dem-11741	332	106	volatility	volatility	NOUN
dem-11741	332	107	–	–	PUNCT
dem-11741	332	108	elimination	elimination	NOUN
dem-11741	332	109	from	from	ADP
dem-11741	332	110	the	the	DET
dem-11741	332	111	model	model	NOUN
dem-11741	332	112	unima	unima	PROPN
dem-11741	332	113	2000	2000	NUM
dem-11741	332	114	systemyteleinformatyczne	systemyteleinformatyczne	NOUN
dem-11741	332	115	(	(	PUNCT
dem-11741	332	116	u2k	u2k	PROPN
dem-11741	332	117	)	)	PUNCT
dem-11741	332	118	armax(1,1)garch(1,1	armax(1,1)garch(1,1	ADJ
dem-11741	332	119	)	)	PUNCT
dem-11741	332	120	,	,	PUNCT
dem-11741	332	121	t	t	PROPN
dem-11741	332	122	-	-	PUNCT
dem-11741	332	123	student	student	NOUN
dem-11741	332	124	distribution	distribution	NOUN
dem-11741	332	125	–	–	PUNCT
dem-11741	332	126	0.009	0.009	NUM
dem-11741	332	127	[	[	X
dem-11741	332	128	0.661	0.661	NUM
dem-11741	332	129	]	]	X
dem-11741	332	130	all	all	DET
dem-11741	332	131	additional	additional	ADJ
dem-11741	332	132	market	market	NOUN
dem-11741	332	133	variables	variable	NOUN
dem-11741	332	134	have	have	VERB
dem-11741	332	135	statistically	statistically	ADV
dem-11741	332	136	insignificant	insignificant	ADJ
dem-11741	332	137	impact	impact	NOUN
dem-11741	332	138	on	on	ADP
dem-11741	332	139	the	the	DET
dem-11741	332	140	firm	firm	ADJ
dem-11741	332	141	volatility	volatility	NOUN
dem-11741	332	142	–	–	PUNCT
dem-11741	332	143	elimination	elimination	NOUN
dem-11741	332	144	from	from	ADP
dem-11741	332	145	the	the	DET
dem-11741	332	146	model	model	NOUN
dem-11741	332	147	lsi	lsi	PROPN
dem-11741	332	148	software	software	PROPN
dem-11741	332	149	(	(	PUNCT
dem-11741	332	150	lsi	lsi	PROPN
dem-11741	332	151	)	)	PUNCT
dem-11741	332	152	armax(1,1)garch(1,1	armax(1,1)garch(1,1	ADJ
dem-11741	332	153	)	)	PUNCT
dem-11741	332	154	,	,	PUNCT
dem-11741	332	155	t	t	PROPN
dem-11741	332	156	-	-	PUNCT
dem-11741	332	157	student	student	NOUN
dem-11741	332	158	distribution	distribution	NOUN
dem-11741	332	159	0.807	0.807	NUM
dem-11741	332	160	[	[	X
dem-11741	332	161	0.016	0.016	NUM
dem-11741	332	162	]	]	PUNCT
dem-11741	332	163	all	all	DET
dem-11741	332	164	additional	additional	ADJ
dem-11741	332	165	market	market	NOUN
dem-11741	332	166	variables	variable	NOUN
dem-11741	332	167	have	have	VERB
dem-11741	332	168	statistically	statistically	ADV
dem-11741	332	169	insignificant	insignificant	ADJ
dem-11741	332	170	impact	impact	NOUN
dem-11741	332	171	on	on	ADP
dem-11741	332	172	the	the	DET
dem-11741	332	173	firm	firm	ADJ
dem-11741	332	174	volatility	volatility	NOUN
dem-11741	332	175	–	–	PUNCT
dem-11741	332	176	elimination	elimination	NOUN
dem-11741	332	177	from	from	ADP
dem-11741	332	178	the	the	DET
dem-11741	332	179	model	model	NOUN
dem-11741	332	180	infovidematrix	infovidematrix	PROPN
dem-11741	332	181	(	(	PUNCT
dem-11741	332	182	imx	imx	PROPN
dem-11741	332	183	)	)	PUNCT
dem-11741	332	184	armax(1,1)garch(1,1	armax(1,1)garch(1,1	ADJ
dem-11741	332	185	)	)	PUNCT
dem-11741	332	186	,	,	PUNCT
dem-11741	332	187	t	t	PROPN
dem-11741	332	188	-	-	PUNCT
dem-11741	332	189	student	student	NOUN
dem-11741	332	190	distribution	distribution	NOUN
dem-11741	332	191	0.043	0.043	NUM
dem-11741	332	192	[	[	X
dem-11741	332	193	0.568	0.568	NUM
dem-11741	332	194	]	]	X
dem-11741	332	195	all	all	DET
dem-11741	332	196	additional	additional	ADJ
dem-11741	332	197	market	market	NOUN
dem-11741	332	198	variables	variable	NOUN
dem-11741	332	199	have	have	VERB
dem-11741	332	200	statistically	statistically	ADV
dem-11741	332	201	insignificant	insignificant	ADJ
dem-11741	332	202	impact	impact	NOUN
dem-11741	332	203	on	on	ADP
dem-11741	332	204	the	the	DET
dem-11741	332	205	firm	firm	ADJ
dem-11741	332	206	volatility	volatility	NOUN
dem-11741	332	207	–	–	PUNCT
dem-11741	332	208	elimination	elimination	NOUN
dem-11741	332	209	from	from	ADP
dem-11741	332	210	the	the	DET
dem-11741	332	211	model	model	NOUN
dem-11741	332	212	procad	procad	NOUN
dem-11741	332	213	(	(	PUNCT
dem-11741	332	214	prd	prd	PROPN
dem-11741	332	215	)	)	PUNCT
dem-11741	332	216	armax(1,1)figarch(1,0.29,1	armax(1,1)figarch(1,0.29,1	PROPN
dem-11741	332	217	)	)	PUNCT
dem-11741	332	218	,	,	PUNCT
dem-11741	332	219	t	t	PROPN
dem-11741	332	220	-	-	PUNCT
dem-11741	332	221	student	student	NOUN
dem-11741	332	222	distribution	distribution	NOUN
dem-11741	332	223	0.896	0.896	NUM
dem-11741	332	224	[	[	X
dem-11741	332	225	0.004	0.004	NUM
dem-11741	332	226	]	]	X
dem-11741	332	227	vm	vm	PROPN
dem-11741	332	228	,	,	PUNCT
dem-11741	332	229	t-1_wig	t-1_wig	PROPN
dem-11741	332	230	:	:	PUNCT
dem-11741	332	231	0.644	0.644	NUM
dem-11741	332	232	[	[	NOUN
dem-11741	332	233	0.005	0.005	NUM
dem-11741	332	234	]	]	PUNCT
dem-11741	332	235	ntt	ntt	NOUN
dem-11741	332	236	system	system	NOUN
dem-11741	332	237	(	(	PUNCT
dem-11741	332	238	ntt	ntt	PROPN
dem-11741	332	239	)	)	PUNCT
dem-11741	332	240	armax(1,1)garch(1,1	armax(1,1)garch(1,1	ADJ
dem-11741	332	241	)	)	PUNCT
dem-11741	332	242	,	,	PUNCT
dem-11741	332	243	t	t	PROPN
dem-11741	332	244	-	-	PUNCT
dem-11741	332	245	student	student	NOUN
dem-11741	332	246	distribution	distribution	NOUN
dem-11741	332	247	0.733	0.733	NUM
dem-11741	333	1	[	[	X
dem-11741	333	2	0.000	0.000	NUM
dem-11741	333	3	]	]	X
dem-11741	333	4	vm	vm	PROPN
dem-11741	333	5	,	,	PUNCT
dem-11741	333	6	t-1_wig	t-1_wig	X
dem-11741	333	7	:	:	PUNCT
dem-11741	333	8	0.539	0.539	NUM
dem-11741	333	9	[	[	X
dem-11741	333	10	0.000	0.000	X
dem-11741	333	11	]	]	X
dem-11741	333	12	note	note	NOUN
dem-11741	333	13	:	:	PUNCT
dem-11741	333	14	p	p	X
dem-11741	333	15	-	-	PUNCT
dem-11741	333	16	value	value	NOUN
dem-11741	333	17	in	in	ADP
dem-11741	333	18	brackets	bracket	NOUN
dem-11741	333	19	.	.	PUNCT
dem-11741	334	1	in	in	ADP
dem-11741	334	2	order	order	NOUN
dem-11741	334	3	to	to	PART
dem-11741	334	4	verify	verify	VERB
dem-11741	334	5	the	the	DET
dem-11741	334	6	hypothesis	hypothesis	NOUN
dem-11741	334	7	assuming	assume	VERB
dem-11741	334	8	that	that	SCONJ
dem-11741	334	9	within	within	ADP
dem-11741	334	10	a	a	DET
dem-11741	334	11	given	give	VERB
dem-11741	334	12	sector	sector	NOUN
dem-11741	334	13	the	the	DET
dem-11741	334	14	percentage	percentage	NOUN
dem-11741	334	15	of	of	ADP
dem-11741	334	16	enterprises	enterprise	NOUN
dem-11741	334	17	in	in	ADP
dem-11741	334	18	the	the	DET
dem-11741	334	19	stable	stable	ADJ
dem-11741	334	20	and	and	CCONJ
dem-11741	334	21	turbulent	turbulent	ADJ
dem-11741	334	22	period	period	NOUN
dem-11741	334	23	,	,	PUNCT
dem-11741	334	24	for	for	ADP
dem-11741	334	25	which	which	PRON
dem-11741	334	26	a	a	DET
dem-11741	334	27	significant	significant	ADJ
dem-11741	334	28	positive	positive	ADJ
dem-11741	334	29	dependence	dependence	NOUN
dem-11741	334	30	between	between	ADP
dem-11741	334	31	their	their	PRON
dem-11741	334	32	share	share	NOUN
dem-11741	334	33	price	price	NOUN
dem-11741	334	34	volatility	volatility	NOUN
dem-11741	334	35	and	and	CCONJ
dem-11741	334	36	stock	stock	NOUN
dem-11741	334	37	market	market	NOUN
dem-11741	334	38	volatility	volatility	NOUN
dem-11741	334	39	is	be	AUX
dem-11741	334	40	the	the	DET
dem-11741	334	41	same	same	ADJ
dem-11741	334	42	,	,	PUNCT
dem-11741	334	43	we	we	PRON
dem-11741	334	44	used	use	VERB
dem-11741	334	45	a	a	DET
dem-11741	334	46	statistical	statistical	ADJ
dem-11741	334	47	test	test	NOUN
dem-11741	334	48	(	(	PUNCT
dem-11741	334	49	krysicki	krysicki	PROPN
dem-11741	334	50	et	et	PROPN
dem-11741	334	51	al	al	PROPN
dem-11741	334	52	.	.	PROPN
dem-11741	334	53	2012	2012	NUM
dem-11741	334	54	):	):	PUNCT
dem-11741	334	55	.	.	PUNCT
dem-11741	334	56	:	:	PUNCT
dem-11741	335	1	:	:	PUNCT
dem-11741	335	2	211	211	NUM
dem-11741	335	3	210	210	NUM
dem-11741	335	4	pph	pph	PROPN
dem-11741	335	5	pph	pph	PROPN
dem-11741	335	6			PROPN
dem-11741	335	7			PRON
dem-11741	335	8	the	the	DET
dem-11741	335	9	test	test	NOUN
dem-11741	335	10	statistics	statistic	NOUN
dem-11741	335	11	under	under	ADP
dem-11741	335	12	the	the	DET
dem-11741	335	13	null	null	ADJ
dem-11741	335	14	hypothesis	hypothesis	NOUN
dem-11741	335	15	has	have	VERB
dem-11741	335	16	a	a	DET
dem-11741	335	17	standardized	standardized	ADJ
dem-11741	335	18	normal	normal	ADJ
dem-11741	335	19	distribution	distribution	NOUN
dem-11741	335	20	:	:	PUNCT
dem-11741	335	21	)	)	PUNCT
dem-11741	335	22	,	,	PUNCT
dem-11741	335	23	1,0(arcsin2arcsin2	1,0(arcsin2arcsin2	NUM
dem-11741	335	24	21	21	NUM
dem-11741	335	25	21	21	NUM
dem-11741	335	26	2	2	NUM
dem-11741	335	27	2	2	NUM
dem-11741	335	28	1	1	NUM
dem-11741	335	29	1	1	NUM
dem-11741	335	30	n	n	NUM
dem-11741	335	31	nn	nn	PROPN
dem-11741	335	32	nn	nn	PROPN
dem-11741	335	33	n	n	PROPN
dem-11741	335	34	k	k	PROPN
dem-11741	335	35	n	n	CCONJ
dem-11741	335	36	k	k	X
dem-11741	335	37	u	u	PROPN
dem-11741	335	38			NOUN
dem-11741	335	39			ADV
dem-11741	335	40			PROPN
dem-11741	335	41			PROPN
dem-11741	335	42			PROPN
dem-11741	335	43			PROPN
dem-11741	335	44			NOUN
dem-11741	335	45			PROPN
dem-11741	335	46			PROPN
dem-11741	335	47			PROPN
dem-11741	336	1			PROPN
dem-11741	336	2			NOUN
dem-11741	336	3			PROPN
dem-11741	336	4	(	(	PUNCT
dem-11741	336	5	12	12	NUM
dem-11741	336	6	)	)	PUNCT
dem-11741	337	1	where	where	SCONJ
dem-11741	337	2	:	:	PUNCT
dem-11741	337	3	p1	p1	NOUN
dem-11741	337	4	–	–	PUNCT
dem-11741	337	5	fraction	fraction	NOUN
dem-11741	337	6	of	of	ADP
dem-11741	337	7	the	the	DET
dem-11741	337	8	firms	firm	NOUN
dem-11741	337	9	in	in	ADP
dem-11741	337	10	the	the	DET
dem-11741	337	11	given	give	VERB
dem-11741	337	12	sector	sector	NOUN
dem-11741	337	13	for	for	ADP
dem-11741	337	14	which	which	PRON
dem-11741	337	15	the	the	DET
dem-11741	337	16	commonality	commonality	NOUN
dem-11741	337	17	in	in	ADP
dem-11741	337	18	volatility	volatility	NOUN
dem-11741	337	19	effect	effect	NOUN
dem-11741	337	20	was	be	AUX
dem-11741	337	21	confirmed	confirm	VERB
dem-11741	337	22	in	in	ADP
dem-11741	337	23	stable	stable	ADJ
dem-11741	337	24	period	period	NOUN
dem-11741	337	25	,	,	PUNCT
dem-11741	337	26	p2	p2	X
dem-11741	337	27	–	–	PUNCT
dem-11741	337	28	fraction	fraction	NOUN
dem-11741	337	29	of	of	ADP
dem-11741	337	30	the	the	DET
dem-11741	337	31	włodarczyk	włodarczyk	NOUN
dem-11741	337	32	,	,	PUNCT
dem-11741	337	33	otola	otola	PROPN
dem-11741	337	34	dynamic	dynamic	ADJ
dem-11741	337	35	econometric	econometric	ADJ
dem-11741	337	36	models	model	NOUN
dem-11741	337	37	16	16	NUM
dem-11741	337	38	(	(	PUNCT
dem-11741	337	39	2016	2016	NUM
dem-11741	337	40	)	)	PUNCT
dem-11741	337	41	87–116	87–116	PROPN
dem-11741	337	42	112	112	NUM
dem-11741	337	43	firms	firm	NOUN
dem-11741	337	44	in	in	ADP
dem-11741	337	45	the	the	DET
dem-11741	337	46	given	give	VERB
dem-11741	337	47	sector	sector	NOUN
dem-11741	337	48	for	for	ADP
dem-11741	337	49	which	which	PRON
dem-11741	337	50	the	the	DET
dem-11741	337	51	commonality	commonality	NOUN
dem-11741	337	52	in	in	ADP
dem-11741	337	53	volatility	volatility	NOUN
dem-11741	337	54	effect	effect	NOUN
dem-11741	337	55	was	be	AUX
dem-11741	337	56	confirmed	confirm	VERB
dem-11741	337	57	in	in	ADP
dem-11741	337	58	turbulent	turbulent	ADJ
dem-11741	337	59	period	period	NOUN
dem-11741	337	60	,	,	PUNCT
dem-11741	337	61	and	and	CCONJ
dem-11741	337	62	–	–	PUNCT
dem-11741	337	63	sample	sample	NOUN
dem-11741	337	64	proportions	proportion	NOUN
dem-11741	337	65	corresponding	correspond	VERB
dem-11741	337	66	to	to	ADP
dem-11741	337	67	p1	p1	PROPN
dem-11741	337	68	and	and	CCONJ
dem-11741	337	69	p2	p2	NOUN
dem-11741	337	70	.	.	PUNCT
dem-11741	337	71	table	table	NOUN
dem-11741	337	72	9	9	NUM
dem-11741	337	73	.	.	PUNCT
dem-11741	338	1	statistics	statistic	NOUN
dem-11741	338	2	for	for	ADP
dem-11741	338	3	similarity	similarity	NOUN
dem-11741	338	4	of	of	ADP
dem-11741	338	5	commonality	commonality	NOUN
dem-11741	338	6	in	in	ADP
dem-11741	338	7	volatility	volatility	NOUN
dem-11741	338	8	effect	effect	NOUN
dem-11741	338	9	in	in	ADP
dem-11741	338	10	stable	stable	ADJ
dem-11741	338	11	and	and	CCONJ
dem-11741	338	12	turbulent	turbulent	ADJ
dem-11741	338	13	period	period	NOUN
dem-11741	338	14	u	u	NOUN
dem-11741	338	15	statistic	statistic	NOUN
dem-11741	338	16	(	(	PUNCT
dem-11741	338	17	1.95	1.95	NUM
dem-11741	338	18	–	–	SYM
dem-11741	338	19	5	5	NUM
dem-11741	338	20	%	%	NOUN
dem-11741	338	21	critical	critical	ADJ
dem-11741	338	22	value	value	NOUN
dem-11741	338	23	)	)	PUNCT
dem-11741	338	24	construction	construction	NOUN
dem-11741	338	25	sector	sector	NOUN
dem-11741	338	26	it	it	PRON
dem-11741	338	27	sector	sector	VERB
dem-11741	338	28	0.546	0.546	NUM
dem-11741	338	29	0.875	0.875	NUM
dem-11741	338	30	at	at	ADP
dem-11741	338	31	5	5	NUM
dem-11741	338	32	%	%	NOUN
dem-11741	338	33	significance	significance	NOUN
dem-11741	338	34	level	level	NOUN
dem-11741	338	35	there	there	PRON
dem-11741	338	36	is	be	VERB
dem-11741	338	37	no	no	DET
dem-11741	338	38	reasons	reason	NOUN
dem-11741	338	39	for	for	ADP
dem-11741	338	40	rejecting	reject	VERB
dem-11741	338	41	the	the	DET
dem-11741	338	42	hypothesis	hypothesis	NOUN
dem-11741	338	43	that	that	PRON
dem-11741	338	44	commonality	commonality	NOUN
dem-11741	338	45	in	in	ADP
dem-11741	338	46	volatility	volatility	NOUN
dem-11741	338	47	did	do	AUX
dem-11741	338	48	n’t	not	PART
dem-11741	338	49	differ	differ	VERB
dem-11741	338	50	significantly	significantly	ADV
dem-11741	338	51	in	in	ADP
dem-11741	338	52	the	the	DET
dem-11741	338	53	turbulent	turbulent	ADJ
dem-11741	338	54	period	period	NOUN
dem-11741	338	55	compared	compare	VERB
dem-11741	338	56	to	to	ADP
dem-11741	338	57	the	the	DET
dem-11741	338	58	stable	stable	ADJ
dem-11741	338	59	period	period	NOUN
dem-11741	338	60	in	in	ADP
dem-11741	338	61	construction	construction	NOUN
dem-11741	338	62	sector	sector	NOUN
dem-11741	338	63	as	as	ADV
dem-11741	338	64	well	well	ADV
dem-11741	338	65	as	as	ADP
dem-11741	338	66	in	in	ADP
dem-11741	338	67	it	it	PRON
dem-11741	338	68	sector	sector	NOUN
dem-11741	338	69	on	on	ADP
dem-11741	338	70	the	the	DET
dem-11741	338	71	polish	polish	ADJ
dem-11741	338	72	capital	capital	NOUN
dem-11741	338	73	market	market	NOUN
dem-11741	338	74	(	(	PUNCT
dem-11741	338	75	table	table	NOUN
dem-11741	338	76	9	9	NUM
dem-11741	338	77	)	)	PUNCT
dem-11741	338	78	.	.	PUNCT
dem-11741	339	1	the	the	DET
dem-11741	339	2	conducted	conduct	VERB
dem-11741	339	3	research	research	NOUN
dem-11741	339	4	show	show	VERB
dem-11741	339	5	that	that	SCONJ
dem-11741	339	6	the	the	DET
dem-11741	339	7	fractions	fraction	NOUN
dem-11741	339	8	of	of	ADP
dem-11741	339	9	enterprises	enterprise	NOUN
dem-11741	339	10	,	,	PUNCT
dem-11741	339	11	in	in	ADP
dem-11741	339	12	the	the	DET
dem-11741	339	13	stable	stable	ADJ
dem-11741	339	14	and	and	CCONJ
dem-11741	339	15	turbulent	turbulent	ADJ
dem-11741	339	16	period	period	NOUN
dem-11741	339	17	,	,	PUNCT
dem-11741	339	18	for	for	ADP
dem-11741	339	19	which	which	PRON
dem-11741	339	20	the	the	DET
dem-11741	339	21	occurrence	occurrence	NOUN
dem-11741	339	22	of	of	ADP
dem-11741	339	23	significant	significant	ADJ
dem-11741	339	24	relationships	relationship	NOUN
dem-11741	339	25	between	between	ADP
dem-11741	339	26	their	their	PRON
dem-11741	339	27	share	share	NOUN
dem-11741	339	28	price	price	NOUN
dem-11741	339	29	volatility	volatility	NOUN
dem-11741	339	30	and	and	CCONJ
dem-11741	339	31	the	the	DET
dem-11741	339	32	wig	wig	NOUN
dem-11741	339	33	index	index	NOUN
dem-11741	339	34	volatility	volatility	NOUN
dem-11741	339	35	was	be	AUX
dem-11741	339	36	proved	prove	VERB
dem-11741	339	37	,	,	PUNCT
dem-11741	339	38	did	do	AUX
dem-11741	339	39	not	not	PART
dem-11741	339	40	significantly	significantly	ADV
dem-11741	339	41	differ	differ	VERB
dem-11741	339	42	one	one	NUM
dem-11741	339	43	from	from	ADP
dem-11741	339	44	the	the	DET
dem-11741	339	45	other	other	ADJ
dem-11741	339	46	.	.	PUNCT
dem-11741	340	1	this	this	PRON
dem-11741	340	2	may	may	AUX
dem-11741	340	3	confirm	confirm	VERB
dem-11741	340	4	that	that	SCONJ
dem-11741	340	5	analyzed	analyze	VERB
dem-11741	340	6	sectors	sector	NOUN
dem-11741	340	7	were	be	AUX
dem-11741	340	8	characterized	characterize	VERB
dem-11741	340	9	by	by	ADP
dem-11741	340	10	resistance	resistance	NOUN
dem-11741	340	11	to	to	ADP
dem-11741	340	12	external	external	ADJ
dem-11741	340	13	shocks	shock	NOUN
dem-11741	340	14	absorbed	absorb	VERB
dem-11741	340	15	by	by	ADP
dem-11741	340	16	polish	polish	ADJ
dem-11741	340	17	stock	stock	NOUN
dem-11741	340	18	market	market	NOUN
dem-11741	340	19	through	through	ADP
dem-11741	340	20	the	the	DET
dem-11741	340	21	investor	investor	NOUN
dem-11741	340	22	behaviour	behaviour	NOUN
dem-11741	340	23	channel	channel	PROPN
dem-11741	340	24	.	.	PUNCT
dem-11741	341	1	conclusions	conclusion	NOUN
dem-11741	341	2	the	the	DET
dem-11741	341	3	analysis	analysis	NOUN
dem-11741	341	4	of	of	ADP
dem-11741	341	5	relationships	relationship	NOUN
dem-11741	341	6	between	between	ADP
dem-11741	341	7	market	market	NOUN
dem-11741	341	8	volatility	volatility	NOUN
dem-11741	341	9	and	and	CCONJ
dem-11741	341	10	volatility	volatility	NOUN
dem-11741	341	11	of	of	ADP
dem-11741	341	12	enterprises	enterprise	NOUN
dem-11741	341	13	from	from	ADP
dem-11741	341	14	the	the	DET
dem-11741	341	15	construction	construction	NOUN
dem-11741	341	16	and	and	CCONJ
dem-11741	341	17	it	it	PRON
dem-11741	341	18	sectors	sector	NOUN
dem-11741	341	19	has	have	AUX
dem-11741	341	20	shown	show	VERB
dem-11741	341	21	that	that	SCONJ
dem-11741	341	22	there	there	PRON
dem-11741	341	23	is	be	VERB
dem-11741	341	24	not	not	PART
dem-11741	341	25	an	an	DET
dem-11741	341	26	increase	increase	NOUN
dem-11741	341	27	in	in	ADP
dem-11741	341	28	the	the	DET
dem-11741	341	29	fractions	fraction	NOUN
dem-11741	341	30	of	of	ADP
dem-11741	341	31	firms	firm	NOUN
dem-11741	341	32	,	,	PUNCT
dem-11741	341	33	for	for	ADP
dem-11741	341	34	which	which	PRON
dem-11741	341	35	their	their	PRON
dem-11741	341	36	share	share	NOUN
dem-11741	341	37	volatility	volatility	NOUN
dem-11741	341	38	in	in	ADP
dem-11741	341	39	a	a	DET
dem-11741	341	40	significant	significant	ADJ
dem-11741	341	41	and	and	CCONJ
dem-11741	341	42	positive	positive	ADJ
dem-11741	341	43	way	way	NOUN
dem-11741	341	44	was	be	AUX
dem-11741	341	45	connected	connect	VERB
dem-11741	341	46	with	with	ADP
dem-11741	341	47	stock	stock	NOUN
dem-11741	341	48	market	market	NOUN
dem-11741	341	49	volatility	volatility	NOUN
dem-11741	341	50	in	in	ADP
dem-11741	341	51	the	the	DET
dem-11741	341	52	period	period	NOUN
dem-11741	341	53	corresponding	correspond	VERB
dem-11741	341	54	to	to	ADP
dem-11741	341	55	the	the	DET
dem-11741	341	56	subprime	subprime	ADJ
dem-11741	341	57	crisis	crisis	NOUN
dem-11741	341	58	and	and	CCONJ
dem-11741	341	59	the	the	DET
dem-11741	341	60	debt	debt	NOUN
dem-11741	341	61	crisis	crisis	NOUN
dem-11741	341	62	in	in	ADP
dem-11741	341	63	the	the	DET
dem-11741	341	64	euro	euro	NOUN
dem-11741	341	65	zone	zone	NOUN
dem-11741	341	66	.	.	PUNCT
dem-11741	342	1	moreover	moreover	ADV
dem-11741	342	2	,	,	PUNCT
dem-11741	342	3	one	one	PRON
dem-11741	342	4	can	can	AUX
dem-11741	342	5	observe	observe	VERB
dem-11741	342	6	a	a	DET
dem-11741	342	7	different	different	ADJ
dem-11741	342	8	relation	relation	NOUN
dem-11741	342	9	of	of	ADP
dem-11741	342	10	these	these	DET
dem-11741	342	11	sectors	sector	NOUN
dem-11741	342	12	to	to	ADP
dem-11741	342	13	external	external	ADJ
dem-11741	342	14	shocks	shock	NOUN
dem-11741	342	15	coming	come	VERB
dem-11741	342	16	to	to	ADP
dem-11741	342	17	polish	polish	ADJ
dem-11741	342	18	market	market	NOUN
dem-11741	342	19	,	,	PUNCT
dem-11741	342	20	namely	namely	ADV
dem-11741	342	21	in	in	ADP
dem-11741	342	22	the	the	DET
dem-11741	342	23	it	it	PRON
dem-11741	342	24	sector	sector	VERB
dem-11741	342	25	the	the	DET
dem-11741	342	26	fraction	fraction	NOUN
dem-11741	342	27	of	of	ADP
dem-11741	342	28	enterprises	enterprise	NOUN
dem-11741	342	29	sensible	sensible	ADJ
dem-11741	342	30	to	to	ADP
dem-11741	342	31	the	the	DET
dem-11741	342	32	wig	wig	NOUN
dem-11741	342	33	index	index	NOUN
dem-11741	342	34	volatility	volatility	NOUN
dem-11741	342	35	decreased	decrease	VERB
dem-11741	342	36	,	,	PUNCT
dem-11741	342	37	while	while	SCONJ
dem-11741	342	38	in	in	ADP
dem-11741	342	39	the	the	DET
dem-11741	342	40	construction	construction	NOUN
dem-11741	342	41	sector	sector	NOUN
dem-11741	342	42	it	it	PRON
dem-11741	342	43	increased	increase	VERB
dem-11741	342	44	.	.	PUNCT
dem-11741	343	1	however	however	ADV
dem-11741	343	2	,	,	PUNCT
dem-11741	343	3	the	the	DET
dem-11741	343	4	changes	change	NOUN
dem-11741	343	5	were	be	AUX
dem-11741	343	6	not	not	PART
dem-11741	343	7	statistically	statistically	ADV
dem-11741	343	8	significant	significant	ADJ
dem-11741	343	9	.	.	PUNCT
dem-11741	344	1	the	the	DET
dem-11741	344	2	financial	financial	ADJ
dem-11741	344	3	situation	situation	NOUN
dem-11741	344	4	of	of	ADP
dem-11741	344	5	the	the	DET
dem-11741	344	6	enterprises	enterprise	NOUN
dem-11741	344	7	from	from	ADP
dem-11741	344	8	these	these	DET
dem-11741	344	9	sectors	sector	NOUN
dem-11741	344	10	was	be	AUX
dem-11741	344	11	conditioned	condition	VERB
dem-11741	344	12	not	not	PART
dem-11741	344	13	only	only	ADV
dem-11741	344	14	by	by	ADP
dem-11741	344	15	unforeseen	unforeseen	ADJ
dem-11741	344	16	factors	factor	NOUN
dem-11741	344	17	connected	connect	VERB
dem-11741	344	18	with	with	ADP
dem-11741	344	19	reaction	reaction	NOUN
dem-11741	344	20	of	of	ADP
dem-11741	344	21	investors	investor	NOUN
dem-11741	344	22	to	to	ADP
dem-11741	344	23	the	the	DET
dem-11741	344	24	information	information	NOUN
dem-11741	344	25	about	about	ADP
dem-11741	344	26	crisis	crisis	NOUN
dem-11741	344	27	,	,	PUNCT
dem-11741	344	28	but	but	CCONJ
dem-11741	344	29	first	first	ADV
dem-11741	344	30	of	of	ADP
dem-11741	344	31	all	all	DET
dem-11741	344	32	economic	economic	ADJ
dem-11741	344	33	factors	factor	NOUN
dem-11741	344	34	and	and	CCONJ
dem-11741	344	35	skills	skill	NOUN
dem-11741	344	36	of	of	ADP
dem-11741	344	37	managers	manager	NOUN
dem-11741	344	38	in	in	ADP
dem-11741	344	39	the	the	DET
dem-11741	344	40	scope	scope	NOUN
dem-11741	344	41	of	of	ADP
dem-11741	344	42	adjusting	adjust	VERB
dem-11741	344	43	enterprise	enterprise	NOUN
dem-11741	344	44	strategies	strategy	NOUN
dem-11741	344	45	to	to	ADP
dem-11741	344	46	the	the	DET
dem-11741	344	47	changeable	changeable	ADJ
dem-11741	344	48	conditions	condition	NOUN
dem-11741	344	49	of	of	ADP
dem-11741	344	50	external	external	ADJ
dem-11741	344	51	environment	environment	NOUN
dem-11741	344	52	,	,	PUNCT
dem-11741	344	53	making	make	VERB
dem-11741	344	54	the	the	DET
dem-11741	344	55	use	use	NOUN
dem-11741	344	56	of	of	ADP
dem-11741	344	57	the	the	DET
dem-11741	344	58	opportunities	opportunity	NOUN
dem-11741	344	59	and	and	CCONJ
dem-11741	344	60	threats	threat	NOUN
dem-11741	344	61	filter	filter	VERB
dem-11741	344	62	in	in	ADP
dem-11741	344	63	building	build	VERB
dem-11741	344	64	and	and	CCONJ
dem-11741	344	65	maintaining	maintain	VERB
dem-11741	344	66	enterprise	enterprise	NOUN
dem-11741	344	67	competitive	competitive	ADJ
dem-11741	344	68	position	position	NOUN
dem-11741	344	69	.	.	PUNCT
dem-11741	345	1	on	on	ADP
dem-11741	345	2	the	the	DET
dem-11741	345	3	basis	basis	NOUN
dem-11741	345	4	of	of	ADP
dem-11741	345	5	conducted	conduct	VERB
dem-11741	345	6	empirical	empirical	ADJ
dem-11741	345	7	studies	study	NOUN
dem-11741	345	8	(	(	PUNCT
dem-11741	345	9	otola	otola	PROPN
dem-11741	345	10	,	,	PUNCT
dem-11741	345	11	2013	2013	NUM
dem-11741	345	12	)	)	PUNCT
dem-11741	345	13	concerning	concern	VERB
dem-11741	345	14	financial	financial	ADJ
dem-11741	345	15	condition	condition	NOUN
dem-11741	345	16	of	of	ADP
dem-11741	345	17	enterprises	enterprise	NOUN
dem-11741	345	18	from	from	ADP
dem-11741	345	19	the	the	DET
dem-11741	345	20	construction	construction	NOUN
dem-11741	345	21	and	and	CCONJ
dem-11741	345	22	it	it	PRON
dem-11741	345	23	sectors	sector	NOUN
dem-11741	345	24	we	we	PRON
dem-11741	345	25	can	can	AUX
dem-11741	345	26	draw	draw	VERB
dem-11741	345	27	the	the	DET
dem-11741	345	28	following	following	ADJ
dem-11741	345	29	conclusions	conclusion	NOUN
dem-11741	345	30	.	.	PUNCT
dem-11741	346	1	majority	majority	NOUN
dem-11741	346	2	of	of	ADP
dem-11741	346	3	the	the	DET
dem-11741	346	4	analyzed	analyze	VERB
dem-11741	346	5	enterprises	enterprise	NOUN
dem-11741	346	6	analysis	analysis	NOUN
dem-11741	346	7	of	of	ADP
dem-11741	346	8	the	the	DET
dem-11741	346	9	relationship	relationship	NOUN
dem-11741	346	10	between	between	ADP
dem-11741	346	11	market	market	NOUN
dem-11741	346	12	volatility	volatility	NOUN
dem-11741	346	13	and	and	CCONJ
dem-11741	346	14	firms	firm	NOUN
dem-11741	346	15	volatility	volatility	NOUN
dem-11741	346	16	…	…	SYM
dem-11741	346	17	dynamic	dynamic	ADJ
dem-11741	346	18	econometric	econometric	ADJ
dem-11741	346	19	models	model	NOUN
dem-11741	346	20	16	16	NUM
dem-11741	346	21	(	(	PUNCT
dem-11741	346	22	2016	2016	NUM
dem-11741	346	23	)	)	PUNCT
dem-11741	346	24	87–116	87–116	PROPN
dem-11741	346	25	113	113	NUM
dem-11741	346	26	from	from	ADP
dem-11741	346	27	the	the	DET
dem-11741	346	28	construction	construction	NOUN
dem-11741	346	29	sector	sector	NOUN
dem-11741	346	30	did	do	AUX
dem-11741	346	31	not	not	PART
dem-11741	346	32	possess	possess	VERB
dem-11741	346	33	financial	financial	ADJ
dem-11741	346	34	liquidity	liquidity	NOUN
dem-11741	346	35	which	which	PRON
dem-11741	346	36	is	be	AUX
dem-11741	346	37	the	the	DET
dem-11741	346	38	determinant	determinant	NOUN
dem-11741	346	39	of	of	ADP
dem-11741	346	40	the	the	DET
dem-11741	346	41	ability	ability	NOUN
dem-11741	346	42	to	to	PART
dem-11741	346	43	pay	pay	VERB
dem-11741	346	44	back	back	ADP
dem-11741	346	45	their	their	PRON
dem-11741	346	46	liabilities	liability	NOUN
dem-11741	346	47	.	.	PUNCT
dem-11741	347	1	moreover	moreover	ADV
dem-11741	347	2	,	,	PUNCT
dem-11741	347	3	in	in	ADP
dem-11741	347	4	case	case	NOUN
dem-11741	347	5	of	of	ADP
dem-11741	347	6	over	over	ADP
dem-11741	347	7	65	65	NUM
dem-11741	347	8	%	%	NOUN
dem-11741	347	9	of	of	ADP
dem-11741	347	10	the	the	DET
dem-11741	347	11	examined	examine	VERB
dem-11741	347	12	enterprises	enterprise	NOUN
dem-11741	347	13	their	their	PRON
dem-11741	347	14	rates	rate	NOUN
dem-11741	347	15	of	of	ADP
dem-11741	347	16	debt	debt	NOUN
dem-11741	347	17	exceeded	exceed	VERB
dem-11741	347	18	70	70	NUM
dem-11741	347	19	%	%	NOUN
dem-11741	347	20	.	.	PUNCT
dem-11741	348	1	in	in	ADP
dem-11741	348	2	addition	addition	NOUN
dem-11741	348	3	,	,	PUNCT
dem-11741	348	4	majority	majority	NOUN
dem-11741	348	5	of	of	ADP
dem-11741	348	6	the	the	DET
dem-11741	348	7	discussed	discuss	VERB
dem-11741	348	8	enterprises	enterprise	NOUN
dem-11741	348	9	achieved	achieve	VERB
dem-11741	348	10	low	low	ADJ
dem-11741	348	11	sales	sale	NOUN
dem-11741	348	12	profitability	profitability	NOUN
dem-11741	348	13	already	already	ADV
dem-11741	348	14	at	at	ADP
dem-11741	348	15	the	the	DET
dem-11741	348	16	level	level	NOUN
dem-11741	348	17	of	of	ADP
dem-11741	348	18	gross	gross	ADJ
dem-11741	348	19	profit	profit	NOUN
dem-11741	348	20	from	from	ADP
dem-11741	348	21	sales	sale	NOUN
dem-11741	348	22	or	or	CCONJ
dem-11741	348	23	operational	operational	ADJ
dem-11741	348	24	profit	profit	NOUN
dem-11741	348	25	.	.	PUNCT
dem-11741	349	1	there	there	PRON
dem-11741	349	2	were	be	VERB
dem-11741	349	3	such	such	ADJ
dem-11741	349	4	enterprises	enterprise	NOUN
dem-11741	349	5	among	among	ADP
dem-11741	349	6	all	all	DET
dem-11741	349	7	the	the	DET
dem-11741	349	8	examined	examine	VERB
dem-11741	349	9	ones	one	NOUN
dem-11741	349	10	which	which	PRON
dem-11741	349	11	were	be	AUX
dem-11741	349	12	characterized	characterize	VERB
dem-11741	349	13	by	by	ADP
dem-11741	349	14	high	high	ADJ
dem-11741	349	15	negative	negative	ADJ
dem-11741	349	16	sales	sale	NOUN
dem-11741	349	17	profitability	profitability	NOUN
dem-11741	349	18	.	.	PUNCT
dem-11741	350	1	the	the	DET
dem-11741	350	2	situation	situation	NOUN
dem-11741	350	3	was	be	AUX
dem-11741	350	4	different	different	ADJ
dem-11741	350	5	in	in	ADP
dem-11741	350	6	the	the	DET
dem-11741	350	7	it	it	NOUN
dem-11741	350	8	sector	sector	NOUN
dem-11741	350	9	.	.	PUNCT
dem-11741	351	1	this	this	DET
dem-11741	351	2	sector	sector	NOUN
dem-11741	351	3	enterprises	enterprise	NOUN
dem-11741	351	4	were	be	AUX
dem-11741	351	5	characterized	characterize	VERB
dem-11741	351	6	by	by	ADP
dem-11741	351	7	average	average	ADJ
dem-11741	351	8	debt	debt	NOUN
dem-11741	351	9	level	level	NOUN
dem-11741	351	10	and	and	CCONJ
dem-11741	351	11	maintained	maintain	VERB
dem-11741	351	12	financial	financial	ADJ
dem-11741	351	13	liquidity	liquidity	NOUN
dem-11741	351	14	on	on	ADP
dem-11741	351	15	the	the	DET
dem-11741	351	16	proper	proper	ADJ
dem-11741	351	17	level	level	NOUN
dem-11741	351	18	(	(	PUNCT
dem-11741	351	19	in	in	ADP
dem-11741	351	20	accordance	accordance	NOUN
dem-11741	351	21	with	with	ADP
dem-11741	351	22	the	the	DET
dem-11741	351	23	assumed	assumed	ADJ
dem-11741	351	24	norms	norm	NOUN
dem-11741	351	25	of	of	ADP
dem-11741	351	26	indexes	index	NOUN
dem-11741	351	27	)	)	PUNCT
dem-11741	351	28	,	,	PUNCT
dem-11741	351	29	and	and	CCONJ
dem-11741	351	30	a	a	DET
dem-11741	351	31	part	part	NOUN
dem-11741	351	32	of	of	ADP
dem-11741	351	33	them	they	PRON
dem-11741	351	34	possessed	possessed	ADJ
dem-11741	351	35	surplus	surplus	NOUN
dem-11741	351	36	of	of	ADP
dem-11741	351	37	turnover	turnover	NOUN
dem-11741	351	38	assets	asset	NOUN
dem-11741	351	39	with	with	ADP
dem-11741	351	40	reference	reference	NOUN
dem-11741	351	41	to	to	ADP
dem-11741	351	42	the	the	DET
dem-11741	351	43	current	current	ADJ
dem-11741	351	44	liabilities	liability	NOUN
dem-11741	351	45	,	,	PUNCT
dem-11741	351	46	which	which	PRON
dem-11741	351	47	indicates	indicate	VERB
dem-11741	351	48	the	the	DET
dem-11741	351	49	excess	excess	NOUN
dem-11741	351	50	of	of	ADP
dem-11741	351	51	liquidity	liquidity	NOUN
dem-11741	351	52	.	.	PUNCT
dem-11741	352	1	sales	sale	NOUN
dem-11741	352	2	profitability	profitability	NOUN
dem-11741	352	3	indexes	index	NOUN
dem-11741	352	4	in	in	ADP
dem-11741	352	5	the	the	DET
dem-11741	352	6	stable	stable	ADJ
dem-11741	352	7	period	period	NOUN
dem-11741	352	8	were	be	AUX
dem-11741	352	9	on	on	ADP
dem-11741	352	10	a	a	DET
dem-11741	352	11	higher	high	ADJ
dem-11741	352	12	level	level	NOUN
dem-11741	352	13	than	than	ADP
dem-11741	352	14	in	in	ADP
dem-11741	352	15	the	the	DET
dem-11741	352	16	turbulent	turbulent	ADJ
dem-11741	352	17	period	period	NOUN
dem-11741	352	18	,	,	PUNCT
dem-11741	352	19	in	in	ADP
dem-11741	352	20	which	which	PRON
dem-11741	352	21	they	they	PRON
dem-11741	352	22	can	can	AUX
dem-11741	352	23	be	be	AUX
dem-11741	352	24	considered	consider	VERB
dem-11741	352	25	as	as	ADV
dem-11741	352	26	low	low	ADJ
dem-11741	352	27	and	and	CCONJ
dem-11741	352	28	unsatisfactory	unsatisfactory	ADJ
dem-11741	352	29	for	for	ADP
dem-11741	352	30	investors	investor	NOUN
dem-11741	352	31	,	,	PUNCT
dem-11741	352	32	nonetheless	nonetheless	ADV
dem-11741	352	33	they	they	PRON
dem-11741	352	34	were	be	AUX
dem-11741	352	35	better	well	ADJ
dem-11741	352	36	than	than	ADP
dem-11741	352	37	the	the	DET
dem-11741	352	38	ones	one	NOUN
dem-11741	352	39	from	from	ADP
dem-11741	352	40	the	the	DET
dem-11741	352	41	construction	construction	NOUN
dem-11741	352	42	sector	sector	NOUN
dem-11741	352	43	.	.	PUNCT
dem-11741	353	1	references	reference	NOUN
dem-11741	353	2	arouri	arouri	PROPN
dem-11741	353	3	,	,	PUNCT
dem-11741	353	4	m.	m.	NOUN
dem-11741	353	5	,	,	PUNCT
dem-11741	353	6	hammoudeh	hammoudeh	PROPN
dem-11741	353	7	,	,	PUNCT
dem-11741	353	8	s.	s.	PROPN
dem-11741	353	9	,	,	PUNCT
dem-11741	353	10	lahiani	lahiani	PROPN
dem-11741	353	11	,	,	PUNCT
dem-11741	353	12	a.	a.	NOUN
dem-11741	353	13	,	,	PUNCT
dem-11741	353	14	nguyen	nguyen	PROPN
dem-11741	353	15	,	,	PUNCT
dem-11741	353	16	d.	d.	PROPN
dem-11741	353	17	(	(	PUNCT
dem-11741	353	18	2012	2012	NUM
dem-11741	353	19	)	)	PUNCT
dem-11741	353	20	,	,	PUNCT
dem-11741	353	21	long	long	ADJ
dem-11741	353	22	memory	memory	NOUN
dem-11741	353	23	and	and	CCONJ
dem-11741	353	24	structural	structural	ADJ
dem-11741	353	25	breaks	break	NOUN
dem-11741	353	26	in	in	ADP
dem-11741	353	27	modeling	model	VERB
dem-11741	353	28	the	the	DET
dem-11741	353	29	return	return	NOUN
dem-11741	353	30	and	and	CCONJ
dem-11741	353	31	volatility	volatility	NOUN
dem-11741	353	32	dynamics	dynamic	NOUN
dem-11741	353	33	of	of	ADP
dem-11741	353	34	precious	precious	ADJ
dem-11741	353	35	metals	metal	NOUN
dem-11741	353	36	,	,	PUNCT
dem-11741	353	37	quarterly	quarterly	ADJ
dem-11741	353	38	review	review	NOUN
dem-11741	353	39	of	of	ADP
dem-11741	353	40	economics	economic	NOUN
dem-11741	353	41	and	and	CCONJ
dem-11741	353	42	finance	finance	NOUN
dem-11741	353	43	,	,	PUNCT
dem-11741	353	44	52	52	NUM
dem-11741	353	45	,	,	PUNCT
dem-11741	353	46	207–218	207–218	NUM
dem-11741	353	47	,	,	PUNCT
dem-11741	353	48	doi	doi	NOUN
dem-11741	353	49	:	:	PUNCT
dem-11741	353	50	http://dx.doi.org/10.1016/j.qref.2012.04.004	http://dx.doi.org/10.1016/j.qref.2012.04.004	PROPN
dem-11741	353	51	.	.	PUNCT
dem-11741	353	52	baur	baur	PROPN
dem-11741	353	53	,	,	PUNCT
dem-11741	353	54	d.	d.	PROPN
dem-11741	353	55	(	(	PUNCT
dem-11741	353	56	2003	2003	NUM
dem-11741	353	57	)	)	PUNCT
dem-11741	353	58	,	,	PUNCT
dem-11741	353	59	testing	test	VERB
dem-11741	353	60	for	for	ADP
dem-11741	353	61	contagion	contagion	NOUN
dem-11741	353	62	–	–	PUNCT
dem-11741	353	63	mean	mean	ADJ
dem-11741	353	64	and	and	CCONJ
dem-11741	353	65	volatility	volatility	NOUN
dem-11741	353	66	contagion	contagion	NOUN
dem-11741	353	67	,	,	PUNCT
dem-11741	353	68	journal	journal	NOUN
dem-11741	353	69	of	of	ADP
dem-11741	353	70	multinational	multinational	ADJ
dem-11741	353	71	financial	financial	ADJ
dem-11741	353	72	management	management	NOUN
dem-11741	353	73	,	,	PUNCT
dem-11741	353	74	13	13	NUM
dem-11741	353	75	,	,	PUNCT
dem-11741	353	76	405–422	405–422	NUM
dem-11741	353	77	,	,	PUNCT
dem-11741	353	78	doi	doi	NOUN
dem-11741	353	79	:	:	PUNCT
dem-11741	353	80	http://dx.doi.org/10.1016/s1042-444x(03)00018-5	http://dx.doi.org/10.1016/s1042-444x(03)00018-5	PROPN
dem-11741	353	81	.	.	PUNCT
dem-11741	353	82	beine	beine	PROPN
dem-11741	353	83	,	,	PUNCT
dem-11741	353	84	m.	m.	NOUN
dem-11741	353	85	,	,	PUNCT
dem-11741	353	86	laurent	laurent	PROPN
dem-11741	353	87	,	,	PUNCT
dem-11741	353	88	s.	s.	PROPN
dem-11741	353	89	,	,	PUNCT
dem-11741	353	90	lecourt	lecourt	PROPN
dem-11741	353	91	,	,	PUNCT
dem-11741	353	92	ch	ch	NOUN
dem-11741	353	93	.	.	PUNCT
dem-11741	353	94	(	(	PUNCT
dem-11741	353	95	2002	2002	NUM
dem-11741	353	96	)	)	PUNCT
dem-11741	353	97	,	,	PUNCT
dem-11741	353	98	accounting	account	VERB
dem-11741	353	99	for	for	ADP
dem-11741	353	100	conditional	conditional	ADJ
dem-11741	353	101	leptokurtosis	leptokurtosis	NOUN
dem-11741	353	102	and	and	CCONJ
dem-11741	353	103	closing	closing	NOUN
dem-11741	353	104	days	day	NOUN
dem-11741	353	105	effects	effect	NOUN
dem-11741	353	106	in	in	ADP
dem-11741	353	107	figarch	figarch	NOUN
dem-11741	353	108	models	model	NOUN
dem-11741	353	109	of	of	ADP
dem-11741	353	110	daily	daily	ADJ
dem-11741	353	111	exchange	exchange	NOUN
dem-11741	353	112	rates	rate	NOUN
dem-11741	353	113	,	,	PUNCT
dem-11741	353	114	applied	apply	VERB
dem-11741	353	115	financial	financial	ADJ
dem-11741	353	116	economics	economic	NOUN
dem-11741	353	117	,	,	PUNCT
dem-11741	353	118	12	12	NUM
dem-11741	353	119	,	,	PUNCT
dem-11741	353	120	589–600	589–600	NUM
dem-11741	353	121	,	,	PUNCT
dem-11741	353	122	doi	doi	NOUN
dem-11741	353	123	:	:	PUNCT
dem-11741	354	1	http://dx.doi.org/10.1080/09603100010014041	http://dx.doi.org/10.1080/09603100010014041	PROPN
dem-11741	354	2	.	.	PUNCT
dem-11741	354	3	bollerslev	bollerslev	PROPN
dem-11741	354	4	,	,	PUNCT
dem-11741	354	5	t.	t.	PROPN
dem-11741	354	6	,	,	PUNCT
dem-11741	354	7	mikkelsen	mikkelsen	PROPN
dem-11741	354	8	,	,	PUNCT
dem-11741	354	9	h.o	h.o	PROPN
dem-11741	354	10	.	.	PROPN
dem-11741	354	11	(	(	PUNCT
dem-11741	354	12	1996	1996	NUM
dem-11741	354	13	)	)	PUNCT
dem-11741	354	14	,	,	PUNCT
dem-11741	354	15	modeling	modeling	NOUN
dem-11741	354	16	and	and	CCONJ
dem-11741	354	17	pricing	pricing	NOUN
dem-11741	354	18	long	long	ADJ
dem-11741	354	19	memory	memory	NOUN
dem-11741	354	20	in	in	ADP
dem-11741	354	21	stock	stock	NOUN
dem-11741	354	22	market	market	NOUN
dem-11741	354	23	volatility	volatility	NOUN
dem-11741	354	24	,	,	PUNCT
dem-11741	354	25	journal	journal	NOUN
dem-11741	354	26	of	of	ADP
dem-11741	354	27	econometrics	econometric	NOUN
dem-11741	354	28	,	,	PUNCT
dem-11741	354	29	73	73	NUM
dem-11741	354	30	,	,	PUNCT
dem-11741	354	31	157–160	157–160	NUM
dem-11741	354	32	,	,	PUNCT
dem-11741	354	33	doi	doi	NOUN
dem-11741	354	34	:	:	PUNCT
dem-11741	354	35	http://dx.doi.org/10.1016/0304-4076(95)01736-4	http://dx.doi.org/10.1016/0304-4076(95)01736-4	PROPN
dem-11741	354	36	.	.	PUNCT
dem-11741	355	1	burzała	burzała	PROPN
dem-11741	355	2	,	,	PUNCT
dem-11741	355	3	m.	m.	NOUN
dem-11741	355	4	(	(	PUNCT
dem-11741	355	5	2013	2013	NUM
dem-11741	355	6	)	)	PUNCT
dem-11741	355	7	,	,	PUNCT
dem-11741	355	8	determination	determination	NOUN
dem-11741	355	9	of	of	ADP
dem-11741	355	10	the	the	DET
dem-11741	355	11	time	time	NOUN
dem-11741	355	12	of	of	ADP
dem-11741	355	13	contagion	contagion	NOUN
dem-11741	355	14	in	in	ADP
dem-11741	355	15	capital	capital	NOUN
dem-11741	355	16	markets	market	NOUN
dem-11741	355	17	based	base	VERB
dem-11741	355	18	on	on	ADP
dem-11741	355	19	the	the	DET
dem-11741	355	20	switching	switch	VERB
dem-11741	355	21	model	model	NOUN
dem-11741	355	22	,	,	PUNCT
dem-11741	355	23	dynamic	dynamic	ADJ
dem-11741	355	24	econometric	econometric	ADJ
dem-11741	355	25	models	model	NOUN
dem-11741	355	26	,	,	PUNCT
dem-11741	355	27	13	13	NUM
dem-11741	355	28	,	,	PUNCT
dem-11741	355	29	69–85	69–85	NUM
dem-11741	355	30	,	,	PUNCT
dem-11741	355	31	doi	doi	NOUN
dem-11741	355	32	:	:	PUNCT
dem-11741	355	33	http://dx.doi.org/10.12775/dem.2013.004	http://dx.doi.org/10.12775/dem.2013.004	NOUN
dem-11741	355	34	.	.	PUNCT
dem-11741	356	1	campbell	campbell	PROPN
dem-11741	356	2	,	,	PUNCT
dem-11741	356	3	j.y	j.y	PROPN
dem-11741	356	4	.	.	PROPN
dem-11741	356	5	,	,	PUNCT
dem-11741	356	6	lettau	lettau	PROPN
dem-11741	356	7	,	,	PUNCT
dem-11741	356	8	m.	m.	NOUN
dem-11741	356	9	,	,	PUNCT
dem-11741	356	10	malkiel	malkiel	PROPN
dem-11741	356	11	,	,	PUNCT
dem-11741	356	12	b.	b.	PROPN
dem-11741	356	13	,	,	PUNCT
dem-11741	356	14	xu	xu	PROPN
dem-11741	356	15	,	,	PUNCT
dem-11741	356	16	y.	y.	PROPN
dem-11741	356	17	(	(	PUNCT
dem-11741	356	18	2001	2001	NUM
dem-11741	356	19	)	)	PUNCT
dem-11741	356	20	,	,	PUNCT
dem-11741	356	21	have	have	VERB
dem-11741	356	22	individual	individual	ADJ
dem-11741	356	23	stocks	stock	NOUN
dem-11741	356	24	become	become	VERB
dem-11741	356	25	more	more	ADV
dem-11741	356	26	volatile	volatile	ADJ
dem-11741	356	27	?	?	PUNCT
dem-11741	357	1	an	an	DET
dem-11741	357	2	empirical	empirical	ADJ
dem-11741	357	3	exploration	exploration	NOUN
dem-11741	357	4	of	of	ADP
dem-11741	357	5	idiosyncratic	idiosyncratic	ADJ
dem-11741	357	6	risk	risk	NOUN
dem-11741	357	7	,	,	PUNCT
dem-11741	357	8	journal	journal	NOUN
dem-11741	357	9	of	of	ADP
dem-11741	357	10	finance	finance	NOUN
dem-11741	357	11	,	,	PUNCT
dem-11741	357	12	56	56	NUM
dem-11741	357	13	,	,	PUNCT
dem-11741	357	14	1	1	NUM
dem-11741	357	15	–	–	SYM
dem-11741	357	16	43	43	NUM
dem-11741	357	17	,	,	PUNCT
dem-11741	357	18	doi	doi	NOUN
dem-11741	357	19	:	:	PUNCT
dem-11741	357	20	http://dx.doi.org/10.1111/0022-1082.00318	http://dx.doi.org/10.1111/0022-1082.00318	PROPN
dem-11741	357	21	.	.	PUNCT
dem-11741	358	1	cavaglia	cavaglia	PROPN
dem-11741	358	2	,	,	PUNCT
dem-11741	358	3	s.	s.	PROPN
dem-11741	358	4	,	,	PUNCT
dem-11741	358	5	brightman	brightman	PROPN
dem-11741	358	6	,	,	PUNCT
dem-11741	358	7	c.	c.	PROPN
dem-11741	358	8	,	,	PUNCT
dem-11741	358	9	aked	ake	VERB
dem-11741	358	10	,	,	PUNCT
dem-11741	358	11	m.	m.	NOUN
dem-11741	358	12	(	(	PUNCT
dem-11741	358	13	2000	2000	NUM
dem-11741	358	14	)	)	PUNCT
dem-11741	358	15	,	,	PUNCT
dem-11741	358	16	the	the	DET
dem-11741	358	17	increasing	increase	VERB
dem-11741	358	18	importance	importance	NOUN
dem-11741	358	19	of	of	ADP
dem-11741	358	20	industry	industry	NOUN
dem-11741	358	21	factors	factor	NOUN
dem-11741	358	22	,	,	PUNCT
dem-11741	358	23	financial	financial	ADJ
dem-11741	358	24	analysts	analyst	NOUN
dem-11741	358	25	journal	journal	NOUN
dem-11741	358	26	,	,	PUNCT
dem-11741	358	27	56	56	NUM
dem-11741	358	28	,	,	PUNCT
dem-11741	358	29	41–54	41–54	NUM
dem-11741	358	30	,	,	PUNCT
dem-11741	358	31	doi	doi	NOUN
dem-11741	358	32	:	:	PUNCT
dem-11741	359	1	http://dx.doi.org/10.2469/faj.v56.n5.2389	http://dx.doi.org/10.2469/faj.v56.n5.2389	PROPN
dem-11741	359	2	.	.	PUNCT
dem-11741	359	3	chen	chen	PROPN
dem-11741	359	4	,	,	PUNCT
dem-11741	359	5	y.	y.	PROPN
dem-11741	359	6	,	,	PUNCT
dem-11741	359	7	lai	lai	PROPN
dem-11741	359	8	,	,	PUNCT
dem-11741	359	9	k.k	k.k	PROPN
dem-11741	359	10	.	.	PROPN
dem-11741	359	11	(	(	PUNCT
dem-11741	359	12	2013	2013	NUM
dem-11741	359	13	)	)	PUNCT
dem-11741	359	14	,	,	PUNCT
dem-11741	359	15	examination	examination	NOUN
dem-11741	359	16	on	on	ADP
dem-11741	359	17	the	the	DET
dem-11741	359	18	relationship	relationship	NOUN
dem-11741	359	19	between	between	ADP
dem-11741	359	20	vhsi	vhsi	NOUN
dem-11741	359	21	,	,	PUNCT
dem-11741	359	22	hsi	hsi	PROPN
dem-11741	359	23	and	and	CCONJ
dem-11741	359	24	future	future	ADJ
dem-11741	359	25	realized	realize	VERB
dem-11741	359	26	volatility	volatility	NOUN
dem-11741	359	27	with	with	ADP
dem-11741	359	28	kalman	kalman	PROPN
dem-11741	359	29	filter	filter	PROPN
dem-11741	359	30	,	,	PUNCT
dem-11741	359	31	eurasian	eurasian	ADJ
dem-11741	359	32	business	business	NOUN
dem-11741	359	33	review	review	PROPN
dem-11741	359	34	,	,	PUNCT
dem-11741	359	35	3	3	NUM
dem-11741	359	36	,	,	PUNCT
dem-11741	359	37	200–216	200–216	NUM
dem-11741	359	38	,	,	PUNCT
dem-11741	359	39	doi	doi	NOUN
dem-11741	359	40	:	:	PUNCT
dem-11741	359	41	http://dx.doi.org/10.14208/ebr.2013.03.02.005	http://dx.doi.org/10.14208/ebr.2013.03.02.005	PROPN
dem-11741	359	42	.	.	PUNCT
dem-11741	360	1	http://dx.doi.org/10.1016/j.qref.2012.04.004	http://dx.doi.org/10.1016/j.qref.2012.04.004	PROPN
dem-11741	360	2	http://dx.doi.org/10.1016/s1042-444x(03)00018-5	http://dx.doi.org/10.1016/s1042-444x(03)00018-5	PROPN
dem-11741	360	3	http://dx.doi.org/10.1080/09603100010014041	http://dx.doi.org/10.1080/09603100010014041	PROPN
dem-11741	360	4	http://dx.doi.org/10.1016/0304-4076(95)01736-4	http://dx.doi.org/10.1016/0304-4076(95)01736-4	PROPN
dem-11741	360	5	http://dx.doi.org/10.12775/dem.2013.004	http://dx.doi.org/10.12775/dem.2013.004	VERB
dem-11741	360	6	http://dx.doi.org/10.2469/faj.v56.n5.2389	http://dx.doi.org/10.2469/faj.v56.n5.2389	PROPN
dem-11741	360	7	włodarczyk	włodarczyk	PROPN
dem-11741	360	8	,	,	PUNCT
dem-11741	360	9	otola	otola	PROPN
dem-11741	360	10	dynamic	dynamic	ADJ
dem-11741	360	11	econometric	econometric	ADJ
dem-11741	360	12	models	model	NOUN
dem-11741	360	13	16	16	NUM
dem-11741	360	14	(	(	PUNCT
dem-11741	360	15	2016	2016	NUM
dem-11741	360	16	)	)	PUNCT
dem-11741	361	1	87–116	87–116	PROPN
dem-11741	361	2	114	114	NUM
dem-11741	361	3	chuliá	chuliá	PROPN
dem-11741	361	4	,	,	PUNCT
dem-11741	361	5	h.	h.	PROPN
dem-11741	361	6	,	,	PUNCT
dem-11741	361	7	torró	torró	PROPN
dem-11741	361	8	,	,	PUNCT
dem-11741	361	9	h.	h.	PROPN
dem-11741	361	10	(	(	PUNCT
dem-11741	361	11	2011	2011	NUM
dem-11741	361	12	)	)	PUNCT
dem-11741	361	13	,	,	PUNCT
dem-11741	361	14	firm	firm	ADJ
dem-11741	361	15	size	size	NOUN
dem-11741	361	16	and	and	CCONJ
dem-11741	361	17	volatility	volatility	NOUN
dem-11741	361	18	analysis	analysis	NOUN
dem-11741	361	19	in	in	ADP
dem-11741	361	20	the	the	DET
dem-11741	361	21	spanish	spanish	ADJ
dem-11741	361	22	stock	stock	NOUN
dem-11741	361	23	market	market	NOUN
dem-11741	361	24	,	,	PUNCT
dem-11741	361	25	the	the	DET
dem-11741	361	26	european	european	PROPN
dem-11741	361	27	journal	journal	PROPN
dem-11741	361	28	of	of	ADP
dem-11741	361	29	finance	finance	NOUN
dem-11741	361	30	,	,	PUNCT
dem-11741	361	31	17	17	NUM
dem-11741	361	32	,	,	PUNCT
dem-11741	361	33	695–715	695–715	NUM
dem-11741	361	34	,	,	PUNCT
dem-11741	361	35	doi	doi	NOUN
dem-11741	361	36	:	:	PUNCT
dem-11741	361	37	http://dx.doi.org/10.1080/1351847x.2011.554286	http://dx.doi.org/10.1080/1351847x.2011.554286	PROPN
dem-11741	361	38	.	.	PUNCT
dem-11741	361	39	claessens	claessens	PROPN
dem-11741	361	40	,	,	PUNCT
dem-11741	361	41	s.	s.	PROPN
dem-11741	361	42	,	,	PUNCT
dem-11741	361	43	forbes	forbes	PROPN
dem-11741	361	44	,	,	PUNCT
dem-11741	361	45	k.	k.	PROPN
dem-11741	361	46	(	(	PUNCT
dem-11741	361	47	2004	2004	NUM
dem-11741	361	48	)	)	PUNCT
dem-11741	361	49	,	,	PUNCT
dem-11741	361	50	international	international	ADJ
dem-11741	361	51	financial	financial	ADJ
dem-11741	361	52	contagion	contagion	NOUN
dem-11741	361	53	:	:	PUNCT
dem-11741	361	54	the	the	DET
dem-11741	361	55	theory	theory	NOUN
dem-11741	361	56	,	,	PUNCT
dem-11741	361	57	evidence	evidence	NOUN
dem-11741	361	58	and	and	CCONJ
dem-11741	361	59	policy	policy	NOUN
dem-11741	361	60	implication	implication	NOUN
dem-11741	361	61	,	,	PUNCT
dem-11741	361	62	https://pdfs.semanticscholar.org/0fda/b705fde6484961e3679cecd41e449721a132.pdf	https://pdfs.semanticscholar.org/0fda/b705fde6484961e3679cecd41e449721a132.pdf	PROPN
dem-11741	361	63	(	(	PUNCT
dem-11741	361	64	2.12.2014	2.12.2014	NUM
dem-11741	361	65	)	)	PUNCT
dem-11741	361	66	.	.	PUNCT
dem-11741	362	1	corsetti	corsetti	PROPN
dem-11741	362	2	,	,	PUNCT
dem-11741	362	3	g.	g.	PROPN
dem-11741	362	4	,	,	PUNCT
dem-11741	362	5	pericoli	pericoli	PROPN
dem-11741	362	6	,	,	PUNCT
dem-11741	362	7	m.	m.	NOUN
dem-11741	362	8	,	,	PUNCT
dem-11741	362	9	sbracia	sbracia	NOUN
dem-11741	362	10	,	,	PUNCT
dem-11741	362	11	m.	m.	NOUN
dem-11741	362	12	(	(	PUNCT
dem-11741	362	13	2005	2005	NUM
dem-11741	362	14	)	)	PUNCT
dem-11741	362	15	,	,	PUNCT
dem-11741	362	16	some	some	DET
dem-11741	362	17	contagion	contagion	NOUN
dem-11741	362	18	,	,	PUNCT
dem-11741	362	19	some	some	DET
dem-11741	362	20	interdependence	interdependence	NOUN
dem-11741	362	21	,	,	PUNCT
dem-11741	362	22	more	more	ADJ
dem-11741	362	23	pitfalls	pitfall	NOUN
dem-11741	362	24	in	in	ADP
dem-11741	362	25	tests	test	NOUN
dem-11741	362	26	of	of	ADP
dem-11741	362	27	financial	financial	ADJ
dem-11741	362	28	contagion	contagion	NOUN
dem-11741	362	29	,	,	PUNCT
dem-11741	362	30	journal	journal	NOUN
dem-11741	362	31	of	of	ADP
dem-11741	362	32	international	international	ADJ
dem-11741	362	33	money	money	NOUN
dem-11741	362	34	and	and	CCONJ
dem-11741	362	35	finance	finance	NOUN
dem-11741	362	36	,	,	PUNCT
dem-11741	362	37	24	24	NUM
dem-11741	362	38	,	,	PUNCT
dem-11741	362	39	1177–1199	1177–1199	NUM
dem-11741	362	40	,	,	PUNCT
dem-11741	362	41	doi	doi	NOUN
dem-11741	362	42	:	:	PUNCT
dem-11741	362	43	http://dx.doi.org/10.1016/j.jimonfin.2005.08.012	http://dx.doi.org/10.1016/j.jimonfin.2005.08.012	PROPN
dem-11741	362	44	.	.	PUNCT
dem-11741	362	45	dungey	dungey	PROPN
dem-11741	362	46	,	,	PUNCT
dem-11741	362	47	m.	m.	NOUN
dem-11741	362	48	,	,	PUNCT
dem-11741	362	49	fry	fry	PROPN
dem-11741	362	50	,	,	PUNCT
dem-11741	362	51	r.	r.	PROPN
dem-11741	362	52	,	,	PUNCT
dem-11741	362	53	gonzalez	gonzalez	PROPN
dem-11741	362	54	-	-	PUNCT
dem-11741	362	55	hermosillo	hermosillo	PROPN
dem-11741	362	56	,	,	PUNCT
dem-11741	362	57	b.	b.	PROPN
dem-11741	362	58	,	,	PUNCT
dem-11741	362	59	martin	martin	PROPN
dem-11741	362	60	,	,	PUNCT
dem-11741	362	61	v.l	v.l	PROPN
dem-11741	362	62	.	.	PROPN
dem-11741	362	63	,	,	PUNCT
dem-11741	362	64	tang	tang	PROPN
dem-11741	362	65	,	,	PUNCT
dem-11741	362	66	ch	ch	NOUN
dem-11741	362	67	.	.	PUNCT
dem-11741	362	68	(	(	PUNCT
dem-11741	362	69	2011	2011	NUM
dem-11741	362	70	)	)	PUNCT
dem-11741	362	71	,	,	PUNCT
dem-11741	362	72	contagion	contagion	NOUN
dem-11741	362	73	and	and	CCONJ
dem-11741	362	74	the	the	DET
dem-11741	362	75	transmission	transmission	NOUN
dem-11741	362	76	of	of	ADP
dem-11741	362	77	financial	financial	ADJ
dem-11741	362	78	crisis	crisis	NOUN
dem-11741	362	79	,	,	PUNCT
dem-11741	362	80	in	in	ADP
dem-11741	362	81	kolb	kolb	PROPN
dem-11741	362	82	r.w	r.w	PROPN
dem-11741	362	83	.	.	PROPN
dem-11741	362	84	(	(	PUNCT
dem-11741	362	85	ed	ed	NOUN
dem-11741	362	86	.	.	PUNCT
dem-11741	362	87	)	)	PUNCT
dem-11741	362	88	,	,	PUNCT
dem-11741	362	89	financial	financial	ADJ
dem-11741	362	90	contagion	contagion	NOUN
dem-11741	362	91	:	:	PUNCT
dem-11741	362	92	the	the	DET
dem-11741	362	93	viral	viral	ADJ
dem-11741	362	94	threat	threat	NOUN
dem-11741	362	95	to	to	ADP
dem-11741	362	96	the	the	DET
dem-11741	362	97	wealth	wealth	NOUN
dem-11741	362	98	of	of	ADP
dem-11741	362	99	nations	nation	NOUN
dem-11741	362	100	,	,	PUNCT
dem-11741	362	101	john	john	PROPN
dem-11741	362	102	wiley	wiley	PROPN
dem-11741	362	103	&	&	CCONJ
dem-11741	362	104	sons	sons	PROPN
dem-11741	362	105	,	,	PUNCT
dem-11741	362	106	inc	inc	PROPN
dem-11741	362	107	.	.	PROPN
dem-11741	362	108	,	,	PUNCT
dem-11741	362	109	hoboken	hoboken	PROPN
dem-11741	362	110	,	,	PUNCT
dem-11741	362	111	new	new	PROPN
dem-11741	362	112	jersey	jersey	PROPN
dem-11741	362	113	.	.	PUNCT
dem-11741	363	1	feurer	feurer	PROPN
dem-11741	363	2	,	,	PUNCT
dem-11741	363	3	r.	r.	PROPN
dem-11741	363	4	,	,	PUNCT
dem-11741	363	5	chaharbaghi	chaharbaghi	PROPN
dem-11741	363	6	,	,	PUNCT
dem-11741	363	7	k.	k.	PROPN
dem-11741	363	8	(	(	PUNCT
dem-11741	363	9	1994	1994	NUM
dem-11741	363	10	)	)	PUNCT
dem-11741	363	11	,	,	PUNCT
dem-11741	363	12	defining	define	VERB
dem-11741	363	13	competitiveness	competitiveness	NOUN
dem-11741	363	14	:	:	PUNCT
dem-11741	363	15	a	a	DET
dem-11741	363	16	holistic	holistic	ADJ
dem-11741	363	17	approach	approach	NOUN
dem-11741	363	18	,	,	PUNCT
dem-11741	363	19	management	management	NOUN
dem-11741	363	20	decision	decision	NOUN
dem-11741	363	21	,	,	PUNCT
dem-11741	363	22	32	32	NUM
dem-11741	363	23	,	,	PUNCT
dem-11741	363	24	49–58	49–58	NUM
dem-11741	363	25	,	,	PUNCT
dem-11741	363	26	doi	doi	NOUN
dem-11741	363	27	:	:	PUNCT
dem-11741	363	28	http://dx.doi.org/10.1108/00251749410054819	http://dx.doi.org/10.1108/00251749410054819	ADJ
dem-11741	363	29	.	.	PUNCT
dem-11741	364	1	fiszeder	fiszed	ADJ
dem-11741	364	2	,	,	PUNCT
dem-11741	364	3	p.	p.	NOUN
dem-11741	364	4	(	(	PUNCT
dem-11741	364	5	2009	2009	NUM
dem-11741	364	6	)	)	PUNCT
dem-11741	364	7	,	,	PUNCT
dem-11741	364	8	modele	modele	PROPN
dem-11741	364	9	klasy	klasy	PROPN
dem-11741	364	10	garch	garch	PROPN
dem-11741	364	11	w	w	PROPN
dem-11741	364	12	empirycznych	empirycznych	PROPN
dem-11741	364	13	badaniach	badaniach	PROPN
dem-11741	364	14	finansowych	finansowych	PROPN
dem-11741	364	15	(	(	PUNCT
dem-11741	364	16	the	the	DET
dem-11741	364	17	class	class	NOUN
dem-11741	364	18	of	of	ADP
dem-11741	364	19	garch	garch	NOUN
dem-11741	364	20	models	model	NOUN
dem-11741	364	21	in	in	ADP
dem-11741	364	22	empirical	empirical	ADJ
dem-11741	364	23	finance	finance	NOUN
dem-11741	364	24	research	research	NOUN
dem-11741	364	25	)	)	PUNCT
dem-11741	364	26	,	,	PUNCT
dem-11741	364	27	wydawnictwo	wydawnictwo	PROPN
dem-11741	364	28	umk	umk	NOUN
dem-11741	364	29	,	,	PUNCT
dem-11741	364	30	toruń	toruń	NOUN
dem-11741	364	31	.	.	PUNCT
dem-11741	365	1	fiszeder	fiszed	ADJ
dem-11741	365	2	,	,	PUNCT
dem-11741	365	3	p.	p.	NOUN
dem-11741	365	4	,	,	PUNCT
dem-11741	365	5	perczak	perczak	NOUN
dem-11741	365	6	,	,	PUNCT
dem-11741	365	7	g.	g.	PROPN
dem-11741	365	8	(	(	PUNCT
dem-11741	365	9	2013	2013	NUM
dem-11741	365	10	)	)	PUNCT
dem-11741	365	11	,	,	PUNCT
dem-11741	365	12	a	a	DET
dem-11741	365	13	new	new	ADJ
dem-11741	365	14	look	look	NOUN
dem-11741	365	15	at	at	ADP
dem-11741	365	16	variance	variance	NOUN
dem-11741	365	17	estimation	estimation	NOUN
dem-11741	365	18	based	base	VERB
dem-11741	365	19	on	on	ADP
dem-11741	365	20	low	low	ADJ
dem-11741	365	21	,	,	PUNCT
dem-11741	365	22	high	high	ADJ
dem-11741	365	23	and	and	CCONJ
dem-11741	365	24	closing	closing	NOUN
dem-11741	365	25	prices	price	NOUN
dem-11741	365	26	taking	take	VERB
dem-11741	365	27	into	into	ADP
dem-11741	365	28	account	account	NOUN
dem-11741	365	29	the	the	DET
dem-11741	365	30	drift	drift	NOUN
dem-11741	365	31	,	,	PUNCT
dem-11741	365	32	statistica	statistica	PROPN
dem-11741	365	33	neerlandica	neerlandica	PROPN
dem-11741	365	34	,	,	PUNCT
dem-11741	365	35	67	67	NUM
dem-11741	365	36	,	,	PUNCT
dem-11741	365	37	456–481	456–481	NUM
dem-11741	365	38	,	,	PUNCT
dem-11741	365	39	doi	doi	NOUN
dem-11741	365	40	:	:	PUNCT
dem-11741	365	41	http://dx.doi.org/10.1111/stan.12017	http://dx.doi.org/10.1111/stan.12017	NOUN
dem-11741	365	42	.	.	NOUN
dem-11741	365	43	giot	giot	NOUN
dem-11741	365	44	,	,	PUNCT
dem-11741	365	45	p.	p.	NOUN
dem-11741	365	46	(	(	PUNCT
dem-11741	365	47	2005	2005	NUM
dem-11741	365	48	)	)	PUNCT
dem-11741	365	49	,	,	PUNCT
dem-11741	365	50	relationships	relationship	NOUN
dem-11741	365	51	between	between	ADP
dem-11741	365	52	implied	imply	VERB
dem-11741	365	53	volatility	volatility	NOUN
dem-11741	365	54	indexes	index	NOUN
dem-11741	365	55	and	and	CCONJ
dem-11741	365	56	stock	stock	NOUN
dem-11741	365	57	index	index	NOUN
dem-11741	365	58	returns	return	NOUN
dem-11741	365	59	,	,	PUNCT
dem-11741	365	60	the	the	DET
dem-11741	365	61	journal	journal	NOUN
dem-11741	365	62	of	of	ADP
dem-11741	365	63	portfolio	portfolio	NOUN
dem-11741	365	64	management	management	NOUN
dem-11741	365	65	,	,	PUNCT
dem-11741	365	66	31	31	NUM
dem-11741	365	67	,	,	PUNCT
dem-11741	365	68	92–100	92–100	NUM
dem-11741	365	69	,	,	PUNCT
dem-11741	365	70	doi	doi	NOUN
dem-11741	365	71	:	:	PUNCT
dem-11741	365	72	http://dx.doi.org/10.3905/jpm.2005.500363	http://dx.doi.org/10.3905/jpm.2005.500363	ADJ
dem-11741	365	73	.	.	PUNCT
dem-11741	366	1	grabowska	grabowska	NOUN
dem-11741	366	2	,	,	PUNCT
dem-11741	366	3	m.	m.	NOUN
dem-11741	366	4	(	(	PUNCT
dem-11741	366	5	2013	2013	NUM
dem-11741	366	6	)	)	PUNCT
dem-11741	366	7	,	,	PUNCT
dem-11741	366	8	wartość	wartość	VERB
dem-11741	366	9	rynkowa	rynkowa	PROPN
dem-11741	366	10	oznaką	oznaką	PROPN
dem-11741	366	11	pozycji	pozycji	NOUN
dem-11741	366	12	i	i	PRON
dem-11741	366	13	przewagi	przewagi	VERB
dem-11741	366	14	konkurencyjnej	konkurencyjnej	PROPN
dem-11741	366	15	przedsiębiorstw	przedsiębiorstw	NOUN
dem-11741	366	16	,	,	PUNCT
dem-11741	366	17	(	(	PUNCT
dem-11741	366	18	the	the	DET
dem-11741	366	19	market	market	NOUN
dem-11741	366	20	value	value	NOUN
dem-11741	366	21	as	as	ADP
dem-11741	366	22	an	an	DET
dem-11741	366	23	indication	indication	NOUN
dem-11741	366	24	of	of	ADP
dem-11741	366	25	the	the	DET
dem-11741	366	26	position	position	NOUN
dem-11741	366	27	and	and	CCONJ
dem-11741	366	28	competitive	competitive	ADJ
dem-11741	366	29	advantage	advantage	NOUN
dem-11741	366	30	of	of	ADP
dem-11741	366	31	enterprises	enterprise	NOUN
dem-11741	366	32	)	)	PUNCT
dem-11741	366	33	,	,	PUNCT
dem-11741	366	34	zeszyty	zeszyty	VERB
dem-11741	366	35	naukowe	naukowe	NOUN
dem-11741	366	36	uniwersytetu	uniwersytetu	NOUN
dem-11741	366	37	szczecińskiego	szczecińskiego	NOUN
dem-11741	366	38	.	.	PUNCT
dem-11741	367	1	finanse	finanse	NOUN
dem-11741	367	2	,	,	PUNCT
dem-11741	367	3	rynki	rynki	NOUN
dem-11741	367	4	finansowe	finansowe	PROPN
dem-11741	367	5	,	,	PUNCT
dem-11741	367	6	ubezpieczenia	ubezpieczenia	PROPN
dem-11741	367	7	(	(	PUNCT
dem-11741	367	8	scientific	scientific	ADJ
dem-11741	367	9	journal	journal	NOUN
dem-11741	367	10	of	of	ADP
dem-11741	367	11	the	the	DET
dem-11741	367	12	university	university	PROPN
dem-11741	367	13	of	of	ADP
dem-11741	367	14	szczecin	szczecin	PROPN
dem-11741	367	15	,	,	PUNCT
dem-11741	367	16	finance	finance	NOUN
dem-11741	367	17	,	,	PUNCT
dem-11741	367	18	financial	financial	ADJ
dem-11741	367	19	markets	market	NOUN
dem-11741	367	20	,	,	PUNCT
dem-11741	367	21	insurance	insurance	NOUN
dem-11741	367	22	)	)	PUNCT
dem-11741	367	23	,	,	PUNCT
dem-11741	367	24	786	786	NUM
dem-11741	367	25	(	(	PUNCT
dem-11741	367	26	64/1	64/1	NUM
dem-11741	367	27	)	)	PUNCT
dem-11741	367	28	,	,	PUNCT
dem-11741	367	29	147–155	147–155	NUM
dem-11741	367	30	.	.	PUNCT
dem-11741	368	1	griffin	griffin	PROPN
dem-11741	368	2	,	,	PUNCT
dem-11741	368	3	j.m	j.m	PROPN
dem-11741	368	4	.	.	PROPN
dem-11741	368	5	,	,	PUNCT
dem-11741	368	6	karolyi	karolyi	PROPN
dem-11741	368	7	,	,	PUNCT
dem-11741	368	8	g.a	g.a	PROPN
dem-11741	368	9	.	.	PUNCT
dem-11741	368	10	(	(	PUNCT
dem-11741	368	11	1998	1998	NUM
dem-11741	368	12	)	)	PUNCT
dem-11741	368	13	,	,	PUNCT
dem-11741	368	14	another	another	DET
dem-11741	368	15	look	look	NOUN
dem-11741	368	16	at	at	ADP
dem-11741	368	17	the	the	DET
dem-11741	368	18	role	role	NOUN
dem-11741	368	19	of	of	ADP
dem-11741	368	20	the	the	DET
dem-11741	368	21	industry	industry	NOUN
dem-11741	368	22	structure	structure	NOUN
dem-11741	368	23	of	of	ADP
dem-11741	368	24	markets	market	NOUN
dem-11741	368	25	for	for	ADP
dem-11741	368	26	international	international	ADJ
dem-11741	368	27	diversification	diversification	NOUN
dem-11741	368	28	strategies	strategy	NOUN
dem-11741	368	29	,	,	PUNCT
dem-11741	368	30	journal	journal	NOUN
dem-11741	368	31	of	of	ADP
dem-11741	368	32	financial	financial	ADJ
dem-11741	368	33	economics	economic	NOUN
dem-11741	368	34	,	,	PUNCT
dem-11741	368	35	50	50	NUM
dem-11741	368	36	,	,	PUNCT
dem-11741	368	37	351–373	351–373	NUM
dem-11741	368	38	,	,	PUNCT
dem-11741	368	39	doi	doi	NOUN
dem-11741	368	40	:	:	PUNCT
dem-11741	368	41	http://dx.doi.org/10.1016/s0304-405x(98)00041-5	http://dx.doi.org/10.1016/s0304-405x(98)00041-5	NOUN
dem-11741	368	42	.	.	PUNCT
dem-11741	368	43	hosking	hosking	PROPN
dem-11741	368	44	,	,	PUNCT
dem-11741	368	45	j.r.m	j.r.m	PROPN
dem-11741	368	46	.	.	PUNCT
dem-11741	369	1	(	(	PUNCT
dem-11741	369	2	1981	1981	NUM
dem-11741	369	3	)	)	PUNCT
dem-11741	369	4	,	,	PUNCT
dem-11741	369	5	fractional	fractional	ADJ
dem-11741	369	6	differencing	differencing	NOUN
dem-11741	369	7	,	,	PUNCT
dem-11741	369	8	biometrika	biometrika	NOUN
dem-11741	369	9	,	,	PUNCT
dem-11741	369	10	68	68	NUM
dem-11741	369	11	,	,	PUNCT
dem-11741	369	12	165–176	165–176	NUM
dem-11741	369	13	,	,	PUNCT
dem-11741	369	14	doi	doi	NOUN
dem-11741	369	15	:	:	PUNCT
dem-11741	369	16	https://doi.org/10.1093/biomet/68.1.165	https://doi.org/10.1093/biomet/68.1.165	PROPN
dem-11741	369	17	.	.	PUNCT
dem-11741	369	18	kang	kang	PROPN
dem-11741	369	19	,	,	PUNCT
dem-11741	369	20	s.	s.	PROPN
dem-11741	369	21	h.	h.	PROPN
dem-11741	369	22	,	,	PUNCT
dem-11741	369	23	yoon	yoon	PROPN
dem-11741	369	24	,	,	PUNCT
dem-11741	369	25	s.	s.	PROPN
dem-11741	369	26	m.	m.	PROPN
dem-11741	369	27	(	(	PUNCT
dem-11741	369	28	2012	2012	NUM
dem-11741	369	29	)	)	PUNCT
dem-11741	369	30	,	,	PUNCT
dem-11741	369	31	dual	dual	ADJ
dem-11741	369	32	long	long	ADJ
dem-11741	369	33	memory	memory	NOUN
dem-11741	369	34	properties	property	NOUN
dem-11741	369	35	with	with	ADP
dem-11741	369	36	skewed	skewed	ADJ
dem-11741	369	37	and	and	CCONJ
dem-11741	369	38	fat	fat	ADJ
dem-11741	369	39	-	-	PUNCT
dem-11741	369	40	tail	tail	NOUN
dem-11741	369	41	distribution	distribution	NOUN
dem-11741	369	42	,	,	PUNCT
dem-11741	369	43	international	international	ADJ
dem-11741	369	44	journal	journal	NOUN
dem-11741	369	45	of	of	ADP
dem-11741	369	46	business	business	NOUN
dem-11741	369	47	and	and	CCONJ
dem-11741	369	48	information	information	NOUN
dem-11741	369	49	,	,	PUNCT
dem-11741	369	50	7	7	NUM
dem-11741	369	51	,	,	PUNCT
dem-11741	369	52	225–249	225–249	NUM
dem-11741	369	53	.	.	PUNCT
dem-11741	370	1	karolyi	karolyi	PROPN
dem-11741	370	2	,	,	PUNCT
dem-11741	370	3	a.	a.	NOUN
dem-11741	370	4	(	(	PUNCT
dem-11741	370	5	2001	2001	NUM
dem-11741	370	6	)	)	PUNCT
dem-11741	370	7	,	,	PUNCT
dem-11741	370	8	why	why	SCONJ
dem-11741	370	9	stock	stock	NOUN
dem-11741	370	10	return	return	NOUN
dem-11741	370	11	volatility	volatility	NOUN
dem-11741	370	12	really	really	ADV
dem-11741	370	13	matters	matter	VERB
dem-11741	370	14	,	,	PUNCT
dem-11741	370	15	strategic	strategic	ADJ
dem-11741	370	16	investor	investor	NOUN
dem-11741	370	17	relations	relation	NOUN
dem-11741	370	18	,	,	PUNCT
dem-11741	370	19	institutional	institutional	ADJ
dem-11741	370	20	investor	investor	NOUN
dem-11741	370	21	journals	journal	NOUN
dem-11741	370	22	series	series	PROPN
dem-11741	370	23	,	,	PUNCT
dem-11741	370	24	http://bryongaskin.net/education/mba%20track/current/mba611/assignments/proje	http://bryongaskin.net/education/mba%20track/current/mba611/assignments/proje	PROPN
dem-11741	370	25	ct	ct	PROPN
dem-11741	370	26	/	/	SYM
dem-11741	370	27	whyvolatilitymatters.pdf	whyvolatilitymatters.pdf	PROPN
dem-11741	370	28	(	(	PUNCT
dem-11741	370	29	15.10.2014	15.10.2014	NUM
dem-11741	370	30	)	)	PUNCT
dem-11741	370	31	.	.	PUNCT
dem-11741	371	1	konopczak	konopczak	PROPN
dem-11741	371	2	,	,	PUNCT
dem-11741	371	3	m.	m.	NOUN
dem-11741	371	4	,	,	PUNCT
dem-11741	371	5	sieradzki	sieradzki	PROPN
dem-11741	371	6	,	,	PUNCT
dem-11741	371	7	r.	r.	PROPN
dem-11741	371	8	,	,	PUNCT
dem-11741	371	9	wiernicki	wiernicki	PROPN
dem-11741	371	10	,	,	PUNCT
dem-11741	371	11	m.	m.	NOUN
dem-11741	371	12	(	(	PUNCT
dem-11741	371	13	2010	2010	NUM
dem-11741	371	14	)	)	PUNCT
dem-11741	371	15	,	,	PUNCT
dem-11741	371	16	kryzys	kryzy	NOUN
dem-11741	371	17	na	na	PART
dem-11741	371	18	światowych	światowych	NOUN
dem-11741	371	19	rynkach	rynkach	NOUN
dem-11741	371	20	finansowych	finansowych	PROPN
dem-11741	371	21	–	–	PUNCT
dem-11741	371	22	wpływ	wpływ	NOUN
dem-11741	371	23	na	na	PART
dem-11741	371	24	rynek	rynek	VERB
dem-11741	371	25	finansowy	finansowy	PROPN
dem-11741	371	26	w	w	PROPN
dem-11741	371	27	polsce	polsce	PROPN
dem-11741	371	28	oraz	oraz	PROPN
dem-11741	371	29	implikacje	implikacje	PROPN
dem-11741	371	30	dla	dla	NOUN
dem-11741	371	31	sektora	sektora	PROPN
dem-11741	371	32	realnego	realnego	PROPN
dem-11741	371	33	(	(	PUNCT
dem-11741	371	34	global	global	ADJ
dem-11741	371	35	financial	financial	ADJ
dem-11741	371	36	markets	market	NOUN
dem-11741	371	37	crisis	crisis	NOUN
dem-11741	371	38	–	–	PUNCT
dem-11741	371	39	impact	impact	NOUN
dem-11741	371	40	on	on	ADP
dem-11741	371	41	the	the	DET
dem-11741	371	42	polish	polish	ADJ
dem-11741	371	43	fnancial	fnancial	ADJ
dem-11741	371	44	market	market	NOUN
dem-11741	371	45	and	and	CCONJ
dem-11741	371	46	implications	implication	NOUN
dem-11741	371	47	for	for	ADP
dem-11741	371	48	the	the	DET
dem-11741	371	49	real	real	ADJ
dem-11741	371	50	sector	sector	NOUN
dem-11741	371	51	of	of	ADP
dem-11741	371	52	the	the	DET
dem-11741	371	53	economy	economy	NOUN
dem-11741	371	54	)	)	PUNCT
dem-11741	371	55	,	,	PUNCT
dem-11741	372	1	bank	bank	NOUN
dem-11741	373	1	i	i	PRON
dem-11741	373	2	kredyt	kredyt	PROPN
dem-11741	373	3	(	(	PUNCT
dem-11741	373	4	bank	bank	NOUN
dem-11741	373	5	and	and	CCONJ
dem-11741	373	6	credit	credit	NOUN
dem-11741	373	7	)	)	PUNCT
dem-11741	373	8	,	,	PUNCT
dem-11741	373	9	41	41	NUM
dem-11741	373	10	,	,	PUNCT
dem-11741	373	11	45–70	45–70	PROPN
dem-11741	373	12	.	.	PUNCT
dem-11741	374	1	krysicki	krysicki	PROPN
dem-11741	374	2	,	,	PUNCT
dem-11741	374	3	w.	w.	PROPN
dem-11741	374	4	,	,	PUNCT
dem-11741	374	5	bartos	bartos	PROPN
dem-11741	374	6	,	,	PUNCT
dem-11741	374	7	j.	j.	PROPN
dem-11741	374	8	,	,	PUNCT
dem-11741	374	9	dyczka	dyczka	PROPN
dem-11741	374	10	,	,	PUNCT
dem-11741	374	11	w.	w.	PROPN
dem-11741	374	12	,	,	PUNCT
dem-11741	374	13	królikowska	królikowska	PROPN
dem-11741	374	14	,	,	PUNCT
dem-11741	374	15	k.	k.	PROPN
dem-11741	374	16	,	,	PUNCT
dem-11741	374	17	wasilewski	wasilewski	NOUN
dem-11741	374	18	,	,	PUNCT
dem-11741	374	19	m.	m.	NOUN
dem-11741	374	20	(	(	PUNCT
dem-11741	374	21	2012	2012	NUM
dem-11741	374	22	)	)	PUNCT
dem-11741	374	23	,	,	PUNCT
dem-11741	374	24	rachunek	rachunek	ADJ
dem-11741	374	25	prawdopodobieństwa	prawdopodobieństwa	NOUN
dem-11741	374	26	i	i	PRON
dem-11741	374	27	statystyka	statystyka	VERB
dem-11741	374	28	matematyczna	matematyczna	PROPN
dem-11741	374	29	w	w	PROPN
dem-11741	374	30	zadaniach	zadaniach	NOUN
dem-11741	374	31	,	,	PUNCT
dem-11741	374	32	(	(	PUNCT
dem-11741	374	33	probability	probability	NOUN
dem-11741	374	34	and	and	CCONJ
dem-11741	374	35	mathematical	mathematical	ADJ
dem-11741	374	36	statistics	statistic	NOUN
dem-11741	374	37	in	in	ADP
dem-11741	374	38	exercises	exercise	NOUN
dem-11741	374	39	)	)	PUNCT
dem-11741	374	40	,	,	PUNCT
dem-11741	374	41	part	part	NOUN
dem-11741	374	42	2	2	NUM
dem-11741	374	43	,	,	PUNCT
dem-11741	374	44	pwn	pwn	PROPN
dem-11741	374	45	,	,	PUNCT
dem-11741	374	46	warsaw	warsaw	PROPN
dem-11741	374	47	.	.	PUNCT
dem-11741	375	1	http://dx.doi.org/10.1080/1351847x.2011.554286	http://dx.doi.org/10.1080/1351847x.2011.554286	PROPN
dem-11741	375	2	http://dx.doi.org/10.1016/j.jimonfin.2005.08.012	http://dx.doi.org/10.1016/j.jimonfin.2005.08.012	PROPN
dem-11741	375	3	http://dx.doi.org/10.1108/00251749410054819	http://dx.doi.org/10.1108/00251749410054819	NOUN
dem-11741	375	4	http://dx.doi.org/10.1016/s0304-405x(98)00041-5	http://dx.doi.org/10.1016/s0304-405x(98)00041-5	NOUN
dem-11741	375	5	https://doi.org/10.1093/biomet/68.1.165	https://doi.org/10.1093/biomet/68.1.165	NUM
dem-11741	375	6	analysis	analysis	NOUN
dem-11741	375	7	of	of	ADP
dem-11741	375	8	the	the	DET
dem-11741	375	9	relationship	relationship	NOUN
dem-11741	375	10	between	between	ADP
dem-11741	375	11	market	market	NOUN
dem-11741	375	12	volatility	volatility	NOUN
dem-11741	375	13	and	and	CCONJ
dem-11741	375	14	firms	firm	NOUN
dem-11741	375	15	volatility	volatility	NOUN
dem-11741	375	16	…	…	SYM
dem-11741	375	17	dynamic	dynamic	ADJ
dem-11741	375	18	econometric	econometric	ADJ
dem-11741	375	19	models	model	NOUN
dem-11741	375	20	16	16	NUM
dem-11741	375	21	(	(	PUNCT
dem-11741	375	22	2016	2016	NUM
dem-11741	375	23	)	)	PUNCT
dem-11741	375	24	87–116	87–116	PROPN
dem-11741	375	25	115	115	NUM
dem-11741	375	26	laurent	laurent	NOUN
dem-11741	375	27	,	,	PUNCT
dem-11741	375	28	s.	s.	PROPN
dem-11741	375	29	(	(	PUNCT
dem-11741	375	30	2013	2013	NUM
dem-11741	375	31	)	)	PUNCT
dem-11741	375	32	,	,	PUNCT
dem-11741	375	33	estimating	estimate	VERB
dem-11741	375	34	and	and	CCONJ
dem-11741	375	35	forecasting	forecast	VERB
dem-11741	375	36	arch	arch	NOUN
dem-11741	375	37	models	model	NOUN
dem-11741	375	38	using	use	VERB
dem-11741	375	39	g@rch	g@rch	NOUN
dem-11741	375	40	7	7	NUM
dem-11741	375	41	,	,	PUNCT
dem-11741	375	42	timberlake	timberlake	PROPN
dem-11741	375	43	consultants	consultants	PROPN
dem-11741	375	44	ltd	ltd	PROPN
dem-11741	375	45	,	,	PUNCT
dem-11741	375	46	london	london	PROPN
dem-11741	375	47	.	.	PUNCT
dem-11741	376	1	le	le	PROPN
dem-11741	376	2	,	,	PUNCT
dem-11741	376	3	c.	c.	PROPN
dem-11741	376	4	,	,	PUNCT
dem-11741	376	5	david	david	PROPN
dem-11741	376	6	,	,	PUNCT
dem-11741	376	7	d.	d.	PROPN
dem-11741	376	8	(	(	PUNCT
dem-11741	376	9	2014	2014	NUM
dem-11741	376	10	)	)	PUNCT
dem-11741	376	11	,	,	PUNCT
dem-11741	376	12	asset	asset	NOUN
dem-11741	376	13	price	price	NOUN
dem-11741	376	14	volatility	volatility	NOUN
dem-11741	376	15	and	and	CCONJ
dem-11741	376	16	financial	financial	ADJ
dem-11741	376	17	contagion	contagion	NOUN
dem-11741	376	18	analysis	analysis	NOUN
dem-11741	376	19	using	use	VERB
dem-11741	376	20	the	the	DET
dem-11741	376	21	ms	ms	ADJ
dem-11741	376	22	-	-	PUNCT
dem-11741	376	23	var	var	NOUN
dem-11741	376	24	framework	framework	NOUN
dem-11741	376	25	,	,	PUNCT
dem-11741	376	26	eurasian	eurasian	ADJ
dem-11741	376	27	economic	economic	ADJ
dem-11741	376	28	review	review	NOUN
dem-11741	376	29	,	,	PUNCT
dem-11741	376	30	4,133–162	4,133–162	NUM
dem-11741	376	31	,	,	PUNCT
dem-11741	376	32	doi	doi	NOUN
dem-11741	376	33	:	:	PUNCT
dem-11741	376	34	http://dx.doi.org/10.1007/s40822-014-0009-y	http://dx.doi.org/10.1007/s40822-014-0009-y	NOUN
dem-11741	376	35	.	.	PUNCT
dem-11741	377	1	molnár	molnár	PROPN
dem-11741	377	2	,	,	PUNCT
dem-11741	377	3	p.(2012	p.(2012	NOUN
dem-11741	377	4	)	)	PUNCT
dem-11741	377	5	,	,	PUNCT
dem-11741	377	6	properties	property	NOUN
dem-11741	377	7	of	of	ADP
dem-11741	377	8	range	range	NOUN
dem-11741	377	9	-	-	PUNCT
dem-11741	377	10	based	base	VERB
dem-11741	377	11	volatility	volatility	NOUN
dem-11741	377	12	estimators	estimator	NOUN
dem-11741	377	13	,	,	PUNCT
dem-11741	377	14	international	international	ADJ
dem-11741	377	15	review	review	NOUN
dem-11741	377	16	of	of	ADP
dem-11741	377	17	financial	financial	ADJ
dem-11741	377	18	analysis	analysis	NOUN
dem-11741	377	19	,	,	PUNCT
dem-11741	377	20	23	23	NUM
dem-11741	377	21	,	,	PUNCT
dem-11741	377	22	20–29	20–29	NUM
dem-11741	377	23	,	,	PUNCT
dem-11741	377	24	doi	doi	NOUN
dem-11741	377	25	:	:	PUNCT
dem-11741	377	26	http://dx.doi.org/10.1016/j.irfa.2011.06.012	http://dx.doi.org/10.1016/j.irfa.2011.06.012	NOUN
dem-11741	377	27	.	.	PUNCT
dem-11741	378	1	otola	otola	PROPN
dem-11741	378	2	,	,	PUNCT
dem-11741	378	3	i.	i.	PROPN
dem-11741	378	4	(	(	PUNCT
dem-11741	378	5	2013	2013	NUM
dem-11741	378	6	)	)	PUNCT
dem-11741	378	7	,	,	PUNCT
dem-11741	378	8	procesy	procesy	PROPN
dem-11741	378	9	zarządzania	zarządzania	PROPN
dem-11741	378	10	przedsiębiorstwami	przedsiębiorstwami	VERB
dem-11741	378	11	a	a	DET
dem-11741	378	12	konkurencyjność	konkurencyjność	PROPN
dem-11741	378	13	w	w	PROPN
dem-11741	378	14	warunkach	warunkach	PROPN
dem-11741	378	15	zarażonego	zarażonego	PROPN
dem-11741	378	16	rynku	rynku	ADJ
dem-11741	378	17	(	(	PUNCT
dem-11741	378	18	the	the	DET
dem-11741	378	19	management	management	NOUN
dem-11741	378	20	processes	process	NOUN
dem-11741	378	21	of	of	ADP
dem-11741	378	22	enterprises	enterprise	NOUN
dem-11741	378	23	and	and	CCONJ
dem-11741	378	24	competiveness	competiveness	NOUN
dem-11741	378	25	under	under	ADP
dem-11741	378	26	condition	condition	NOUN
dem-11741	378	27	of	of	ADP
dem-11741	378	28	market	market	NOUN
dem-11741	378	29	contagion	contagion	NOUN
dem-11741	378	30	)	)	PUNCT
dem-11741	378	31	,	,	PUNCT
dem-11741	378	32	wydawnictwo	wydawnictwo	PROPN
dem-11741	378	33	politechniki	politechniki	PROPN
dem-11741	378	34	częstochowskiej	częstochowskiej	PROPN
dem-11741	378	35	,	,	PUNCT
dem-11741	378	36	częstochowa	częstochowa	PROPN
dem-11741	378	37	.	.	PUNCT
dem-11741	379	1	peng	peng	PROPN
dem-11741	379	2	,	,	PUNCT
dem-11741	379	3	y.	y.	PROPN
dem-11741	379	4	,	,	PUNCT
dem-11741	379	5	ng	ng	PROPN
dem-11741	379	6	,	,	PUNCT
dem-11741	379	7	w.	w.	PROPN
dem-11741	379	8	(	(	PUNCT
dem-11741	379	9	2012	2012	NUM
dem-11741	379	10	)	)	PUNCT
dem-11741	379	11	,	,	PUNCT
dem-11741	379	12	analysing	analyse	VERB
dem-11741	379	13	financial	financial	ADJ
dem-11741	379	14	contagion	contagion	NOUN
dem-11741	379	15	and	and	CCONJ
dem-11741	379	16	asymmetric	asymmetric	ADJ
dem-11741	379	17	market	market	NOUN
dem-11741	379	18	dependence	dependence	NOUN
dem-11741	379	19	with	with	ADP
dem-11741	379	20	volatility	volatility	NOUN
dem-11741	379	21	indices	index	NOUN
dem-11741	379	22	via	via	ADP
dem-11741	379	23	copulas	copula	NOUN
dem-11741	379	24	,	,	PUNCT
dem-11741	379	25	annals	annal	NOUN
dem-11741	379	26	of	of	ADP
dem-11741	379	27	finance	finance	NOUN
dem-11741	379	28	,	,	PUNCT
dem-11741	379	29	8	8	NUM
dem-11741	379	30	,	,	PUNCT
dem-11741	379	31	49–74	49–74	NUM
dem-11741	379	32	,	,	PUNCT
dem-11741	379	33	doi	doi	NOUN
dem-11741	379	34	:	:	PUNCT
dem-11741	379	35	http://dx.doi.org/10.1007/s10436-011-0181-y	http://dx.doi.org/10.1007/s10436-011-0181-y	PROPN
dem-11741	379	36	.	.	PUNCT
dem-11741	380	1	phylatkis	phylatki	NOUN
dem-11741	380	2	,	,	PUNCT
dem-11741	380	3	k.	k.	PROPN
dem-11741	380	4	,	,	PUNCT
dem-11741	380	5	xia	xia	PROPN
dem-11741	380	6	,	,	PUNCT
dem-11741	380	7	l.	l.	PROPN
dem-11741	380	8	(	(	PUNCT
dem-11741	380	9	2009	2009	NUM
dem-11741	380	10	)	)	PUNCT
dem-11741	380	11	,	,	PUNCT
dem-11741	380	12	equity	equity	NOUN
dem-11741	380	13	market	market	NOUN
dem-11741	380	14	comovement	comovement	NOUN
dem-11741	380	15	and	and	CCONJ
dem-11741	380	16	contagion	contagion	NOUN
dem-11741	380	17	:	:	PUNCT
dem-11741	380	18	a	a	DET
dem-11741	380	19	sectoral	sectoral	ADJ
dem-11741	380	20	perspective	perspective	NOUN
dem-11741	380	21	,	,	PUNCT
dem-11741	380	22	financial	financial	ADJ
dem-11741	380	23	management	management	NOUN
dem-11741	380	24	,	,	PUNCT
dem-11741	380	25	38	38	NUM
dem-11741	380	26	,	,	PUNCT
dem-11741	380	27	381–409	381–409	NUM
dem-11741	380	28	,	,	PUNCT
dem-11741	380	29	doi	doi	NOUN
dem-11741	380	30	:	:	PUNCT
dem-11741	380	31	http://dx.doi.org/10.1111/j.1755-053x.2009.01040.x	http://dx.doi.org/10.1111/j.1755-053x.2009.01040.x	PROPN
dem-11741	380	32	.	.	PROPN
dem-11741	380	33	sadigue	sadigue	PROPN
dem-11741	380	34	,	,	PUNCT
dem-11741	380	35	s.	s.	PROPN
dem-11741	380	36	,	,	PUNCT
dem-11741	380	37	silvapulle	silvapulle	NOUN
dem-11741	380	38	,	,	PUNCT
dem-11741	380	39	p.	p.	NOUN
dem-11741	380	40	(	(	PUNCT
dem-11741	380	41	2011	2011	NUM
dem-11741	380	42	)	)	PUNCT
dem-11741	380	43	,	,	PUNCT
dem-11741	380	44	long	long	ADJ
dem-11741	380	45	-	-	PUNCT
dem-11741	380	46	term	term	NOUN
dem-11741	380	47	memory	memory	NOUN
dem-11741	380	48	in	in	ADP
dem-11741	380	49	stock	stock	NOUN
dem-11741	380	50	market	market	NOUN
dem-11741	380	51	returns	return	NOUN
dem-11741	380	52	:	:	PUNCT
dem-11741	380	53	international	international	ADJ
dem-11741	380	54	evidence	evidence	NOUN
dem-11741	380	55	,	,	PUNCT
dem-11741	380	56	international	international	ADJ
dem-11741	380	57	journal	journal	NOUN
dem-11741	380	58	of	of	ADP
dem-11741	380	59	finance	finance	NOUN
dem-11741	380	60	and	and	CCONJ
dem-11741	380	61	economics	economic	NOUN
dem-11741	380	62	,	,	PUNCT
dem-11741	380	63	6	6	NUM
dem-11741	380	64	,	,	PUNCT
dem-11741	380	65	59–67	59–67	NUM
dem-11741	380	66	,	,	PUNCT
dem-11741	380	67	doi	doi	NOUN
dem-11741	380	68	:	:	PUNCT
dem-11741	380	69	http://dx.doi.org/10.1002/ijfe.143	http://dx.doi.org/10.1002/ijfe.143	PROPN
dem-11741	380	70	.	.	PUNCT
dem-11741	381	1	sequeira	sequeira	PROPN
dem-11741	381	2	,	,	PUNCT
dem-11741	381	3	j.m	j.m	PROPN
dem-11741	381	4	.	.	PROPN
dem-11741	381	5	,	,	PUNCT
dem-11741	381	6	lan	lan	PROPN
dem-11741	381	7	,	,	PUNCT
dem-11741	381	8	d.	d.	PROPN
dem-11741	381	9	(	(	PUNCT
dem-11741	381	10	2003	2003	NUM
dem-11741	381	11	)	)	PUNCT
dem-11741	381	12	,	,	PUNCT
dem-11741	381	13	does	do	VERB
dem-11741	381	14	world	world	NOUN
dem-11741	381	15	-	-	PUNCT
dem-11741	381	16	level	level	NOUN
dem-11741	381	17	volatility	volatility	NOUN
dem-11741	381	18	matter	matter	NOUN
dem-11741	381	19	for	for	ADP
dem-11741	381	20	the	the	DET
dem-11741	381	21	average	average	ADJ
dem-11741	381	22	firm	firm	NOUN
dem-11741	381	23	in	in	ADP
dem-11741	381	24	a	a	DET
dem-11741	381	25	global	global	ADJ
dem-11741	381	26	equity	equity	NOUN
dem-11741	381	27	market	market	NOUN
dem-11741	381	28	?	?	PUNCT
dem-11741	381	29	,	,	PUNCT
dem-11741	381	30	journal	journal	NOUN
dem-11741	381	31	of	of	ADP
dem-11741	381	32	multinational	multinational	ADJ
dem-11741	381	33	financial	financial	ADJ
dem-11741	381	34	management	management	NOUN
dem-11741	381	35	,	,	PUNCT
dem-11741	381	36	13	13	NUM
dem-11741	381	37	,	,	PUNCT
dem-11741	381	38	341	341	NUM
dem-11741	381	39	–	–	PUNCT
dem-11741	381	40	–	–	PUNCT
dem-11741	381	41	357	357	NUM
dem-11741	381	42	,	,	PUNCT
dem-11741	381	43	doi	doi	NOUN
dem-11741	381	44	:	:	PUNCT
dem-11741	381	45	http://dx.doi.org/10.1016/s1042-444x(03)00015-x	http://dx.doi.org/10.1016/s1042-444x(03)00015-x	NOUN
dem-11741	381	46	.	.	PUNCT
dem-11741	382	1	sharma	sharma	PROPN
dem-11741	382	2	,	,	PUNCT
dem-11741	382	3	s.s	s.s	PROPN
dem-11741	382	4	.	.	PROPN
dem-11741	382	5	,	,	PUNCT
dem-11741	382	6	narayan	narayan	PROPN
dem-11741	382	7	,	,	PUNCT
dem-11741	382	8	p.k	p.k	PROPN
dem-11741	382	9	.	.	PROPN
dem-11741	382	10	,	,	PUNCT
dem-11741	382	11	zheng	zheng	PROPN
dem-11741	382	12	,	,	PUNCT
dem-11741	382	13	x.	x.	NOUN
dem-11741	382	14	(	(	PUNCT
dem-11741	382	15	2011	2011	NUM
dem-11741	382	16	)	)	PUNCT
dem-11741	382	17	,	,	PUNCT
dem-11741	382	18	an	an	DET
dem-11741	382	19	analysis	analysis	NOUN
dem-11741	382	20	of	of	ADP
dem-11741	382	21	firm	firm	ADJ
dem-11741	382	22	and	and	CCONJ
dem-11741	382	23	market	market	NOUN
dem-11741	382	24	volatility	volatility	NOUN
dem-11741	382	25	,	,	PUNCT
dem-11741	382	26	an	an	DET
dem-11741	382	27	financial	financial	ADJ
dem-11741	382	28	econometrics	econometrics	NOUN
dem-11741	382	29	series	series	NOUN
dem-11741	382	30	,	,	PUNCT
dem-11741	382	31	swp	swp	PROPN
dem-11741	382	32	2011/02	2011/02	NUM
dem-11741	382	33	,	,	PUNCT
dem-11741	382	34	deakin	deakin	PROPN
dem-11741	382	35	university	university	PROPN
dem-11741	382	36	,	,	PUNCT
dem-11741	382	37	australia	australia	PROPN
dem-11741	382	38	,	,	PUNCT
dem-11741	382	39	https://core.ac.uk/download/pdf/6266325.pdf	https://core.ac.uk/download/pdf/6266325.pdf	PROPN
dem-11741	382	40	(	(	PUNCT
dem-11741	382	41	12.06.2012	12.06.2012	PROPN
dem-11741	382	42	)	)	PUNCT
dem-11741	382	43	.	.	PUNCT
dem-11741	383	1	sharma	sharma	PROPN
dem-11741	383	2	,	,	PUNCT
dem-11741	383	3	s.s	s.s	PROPN
dem-11741	383	4	.	.	PROPN
dem-11741	383	5	,	,	PUNCT
dem-11741	383	6	narayan	narayan	PROPN
dem-11741	383	7	,	,	PUNCT
dem-11741	383	8	p.k	p.k	PROPN
dem-11741	383	9	.	.	PROPN
dem-11741	383	10	,	,	PUNCT
dem-11741	383	11	zheng	zheng	PROPN
dem-11741	383	12	,	,	PUNCT
dem-11741	383	13	x.	x.	NOUN
dem-11741	383	14	(	(	PUNCT
dem-11741	383	15	2014	2014	NUM
dem-11741	383	16	)	)	PUNCT
dem-11741	383	17	,	,	PUNCT
dem-11741	383	18	an	an	DET
dem-11741	383	19	analysis	analysis	NOUN
dem-11741	383	20	of	of	ADP
dem-11741	383	21	firm	firm	ADJ
dem-11741	383	22	and	and	CCONJ
dem-11741	383	23	market	market	NOUN
dem-11741	383	24	volatility	volatility	NOUN
dem-11741	383	25	,	,	PUNCT
dem-11741	383	26	economic	economic	ADJ
dem-11741	383	27	systems	system	NOUN
dem-11741	383	28	,	,	PUNCT
dem-11741	383	29	38	38	NUM
dem-11741	383	30	,	,	PUNCT
dem-11741	383	31	205–220	205–220	NUM
dem-11741	383	32	,	,	PUNCT
dem-11741	383	33	doi	doi	NOUN
dem-11741	383	34	:	:	PUNCT
dem-11741	383	35	http://dx.doi.org/10.1016/j.ecosys.2013.12.003	http://dx.doi.org/10.1016/j.ecosys.2013.12.003	PROPN
dem-11741	383	36	.	.	PROPN
dem-11741	383	37	shin	shin	PROPN
dem-11741	383	38	,	,	PUNCT
dem-11741	383	39	h.h	h.h	PROPN
dem-11741	383	40	.	.	PROPN
dem-11741	383	41	,	,	PUNCT
dem-11741	383	42	stulz	stulz	ADJ
dem-11741	383	43	,	,	PUNCT
dem-11741	383	44	r.m	r.m	PROPN
dem-11741	383	45	.	.	PROPN
dem-11741	383	46	(	(	PUNCT
dem-11741	383	47	2000	2000	NUM
dem-11741	383	48	)	)	PUNCT
dem-11741	383	49	,	,	PUNCT
dem-11741	383	50	firm	firm	ADJ
dem-11741	383	51	value	value	NOUN
dem-11741	383	52	,	,	PUNCT
dem-11741	383	53	risk	risk	NOUN
dem-11741	383	54	and	and	CCONJ
dem-11741	383	55	growth	growth	NOUN
dem-11741	383	56	opportunities	opportunity	NOUN
dem-11741	383	57	,	,	PUNCT
dem-11741	383	58	nber	nber	PROPN
dem-11741	383	59	working	working	PROPN
dem-11741	383	60	paper	paper	PROPN
dem-11741	383	61	7808	7808	NUM
dem-11741	383	62	,	,	PUNCT
dem-11741	383	63	http://www.nber.org/papers/w7808.pdf	http://www.nber.org/papers/w7808.pdf	NOUN
dem-11741	383	64	(	(	PUNCT
dem-11741	383	65	2.03.2015	2.03.2015	NUM
dem-11741	383	66	)	)	PUNCT
dem-11741	383	67	.	.	PUNCT
dem-11741	384	1	simon	simon	PROPN
dem-11741	384	2	,	,	PUNCT
dem-11741	384	3	d.p	d.p	PROPN
dem-11741	384	4	.	.	PROPN
dem-11741	384	5	(	(	PUNCT
dem-11741	384	6	2003	2003	NUM
dem-11741	384	7	)	)	PUNCT
dem-11741	384	8	,	,	PUNCT
dem-11741	384	9	the	the	DET
dem-11741	384	10	nasdaq	nasdaq	PROPN
dem-11741	384	11	volatility	volatility	NOUN
dem-11741	384	12	index	index	NOUN
dem-11741	384	13	during	during	ADP
dem-11741	384	14	and	and	CCONJ
dem-11741	384	15	after	after	ADP
dem-11741	384	16	the	the	DET
dem-11741	384	17	bubble	bubble	NOUN
dem-11741	384	18	,	,	PUNCT
dem-11741	384	19	the	the	DET
dem-11741	384	20	journal	journal	NOUN
dem-11741	384	21	of	of	ADP
dem-11741	384	22	derivatives,11	derivatives,11	NOUN
dem-11741	384	23	,	,	PUNCT
dem-11741	384	24	9–24	9–24	NUM
dem-11741	384	25	,	,	PUNCT
dem-11741	384	26	doi	doi	NOUN
dem-11741	384	27	:	:	PUNCT
dem-11741	384	28	http://dx.doi.org/10.3905/jod.2003.319213	http://dx.doi.org/10.3905/jod.2003.319213	X
dem-11741	384	29	.	.	PUNCT
dem-11741	384	30	whaley	whaley	PROPN
dem-11741	384	31	,	,	PUNCT
dem-11741	384	32	r.e	r.e	PROPN
dem-11741	384	33	.	.	PROPN
dem-11741	384	34	(	(	PUNCT
dem-11741	384	35	2009	2009	NUM
dem-11741	384	36	)	)	PUNCT
dem-11741	384	37	,	,	PUNCT
dem-11741	384	38	understanding	understand	VERB
dem-11741	384	39	the	the	DET
dem-11741	384	40	vix	vix	NOUN
dem-11741	384	41	,	,	PUNCT
dem-11741	384	42	journal	journal	NOUN
dem-11741	384	43	of	of	ADP
dem-11741	384	44	portfolio	portfolio	NOUN
dem-11741	384	45	management	management	NOUN
dem-11741	384	46	,	,	PUNCT
dem-11741	384	47	35	35	NUM
dem-11741	384	48	,	,	PUNCT
dem-11741	384	49	98–105	98–105	PROPN
dem-11741	384	50	,	,	PUNCT
dem-11741	384	51	doi	doi	NOUN
dem-11741	384	52	:	:	PUNCT
dem-11741	384	53	http://dx.doi.org/10.3905/jpm.2009.35.3.098	http://dx.doi.org/10.3905/jpm.2009.35.3.098	PROPN
dem-11741	384	54	.	.	PUNCT
dem-11741	385	1	włodarczyk	włodarczyk	PROPN
dem-11741	385	2	,	,	PUNCT
dem-11741	385	3	a.	a.	NOUN
dem-11741	385	4	(	(	PUNCT
dem-11741	385	5	2010	2010	NUM
dem-11741	385	6	)	)	PUNCT
dem-11741	385	7	,	,	PUNCT
dem-11741	385	8	testowanie	testowanie	PROPN
dem-11741	385	9	efektu	efektu	PROPN
dem-11741	385	10	długiej	długiej	PROPN
dem-11741	385	11	pamięci	pamięci	PROPN
dem-11741	385	12	w	w	PROPN
dem-11741	385	13	zmienności	zmienności	PROPN
dem-11741	385	14	cen	cen	PROPN
dem-11741	385	15	metali	metali	PROPN
dem-11741	385	16	szlachetnych	szlachetnych	PROPN
dem-11741	385	17	(	(	PUNCT
dem-11741	385	18	testing	testing	NOUN
dem-11741	385	19	for	for	ADP
dem-11741	385	20	long	long	ADJ
dem-11741	385	21	memory	memory	NOUN
dem-11741	385	22	in	in	ADP
dem-11741	385	23	volatility	volatility	NOUN
dem-11741	385	24	of	of	ADP
dem-11741	385	25	precious	precious	ADJ
dem-11741	385	26	metal	metal	NOUN
dem-11741	385	27	prices	price	NOUN
dem-11741	385	28	)	)	PUNCT
dem-11741	385	29	,	,	PUNCT
dem-11741	385	30	roczniki	roczniki	PROPN
dem-11741	385	31	naukowe	naukowe	NOUN
dem-11741	385	32	.	.	PUNCT
dem-11741	386	1	seria	seria	PROPN
dem-11741	386	2	b	b	PROPN
dem-11741	386	3	,	,	PUNCT
dem-11741	386	4	nauki	nauki	NOUN
dem-11741	386	5	ekonomiczne	ekonomiczne	NOUN
dem-11741	387	1	i	i	PRON
dem-11741	387	2	informatyka	informatyka	INTJ
dem-11741	387	3	(	(	PUNCT
dem-11741	387	4	scientific	scientific	ADJ
dem-11741	387	5	annals	annal	NOUN
dem-11741	387	6	.	.	PUNCT
dem-11741	388	1	series	series	PROPN
dem-11741	388	2	b	b	PROPN
dem-11741	388	3	,	,	PUNCT
dem-11741	388	4	economic	economic	ADJ
dem-11741	388	5	science	science	NOUN
dem-11741	388	6	and	and	CCONJ
dem-11741	388	7	informatics	informatic	NOUN
dem-11741	388	8	)	)	PUNCT
dem-11741	388	9	,	,	PUNCT
dem-11741	388	10	1–2	1–2	NUM
dem-11741	388	11	,	,	PUNCT
dem-11741	388	12	151–170	151–170	NUM
dem-11741	388	13	.	.	PUNCT
dem-11741	388	14	analiza	analiza	PROPN
dem-11741	388	15	relacji	relacji	PROPN
dem-11741	388	16	między	między	PROPN
dem-11741	388	17	zmiennością	zmiennością	PROPN
dem-11741	388	18	rynku	rynku	PROPN
dem-11741	388	19	a	a	DET
dem-11741	388	20	zmiennością	zmiennością	PROPN
dem-11741	388	21	firm	firm	PROPN
dem-11741	388	22	na	na	PROPN
dem-11741	388	23	polskim	polskim	PROPN
dem-11741	388	24	rynku	rynku	ADJ
dem-11741	388	25	kapitałowym	kapitałowym	PROPN
dem-11741	388	26	z	z	PROPN
dem-11741	388	27	a	a	DET
dem-11741	388	28	r	r	NOUN
dem-11741	389	1	y	y	PROPN
dem-11741	389	2	s	s	PROPN
dem-11741	389	3	t	t	NOUN
dem-11741	389	4	r	r	NOUN
dem-11741	389	5	e	e	PROPN
dem-11741	389	6	ś	ś	PROPN
dem-11741	389	7	c	c	PROPN
dem-11741	389	8	i.	i.	PROPN
dem-11741	389	9	w	w	PROPN
dem-11741	389	10	artykule	artykule	PROPN
dem-11741	389	11	analizowano	analizowano	PROPN
dem-11741	389	12	kształtowanie	kształtowanie	VERB
dem-11741	389	13	się	się	PROPN
dem-11741	389	14	zależności	zależności	PROPN
dem-11741	389	15	między	między	PROPN
dem-11741	389	16	zmiennością	zmiennością	PROPN
dem-11741	389	17	rynku	rynku	PROPN
dem-11741	389	18	a	a	DET
dem-11741	389	19	zmiennością	zmiennością	PROPN
dem-11741	389	20	cen	cen	PROPN
dem-11741	389	21	akcji	akcji	PROPN
dem-11741	389	22	w	w	PROPN
dem-11741	389	23	spółkach	spółkach	NOUN
dem-11741	389	24	z	z	PROPN
dem-11741	389	25	wybranych	wybranych	NOUN
dem-11741	389	26	sektorów	sektorów	PROPN
dem-11741	389	27	giełdy	giełdy	PROPN
dem-11741	389	28	papierów	papierów	PROPN
dem-11741	389	29	wartościowych	wartościowych	PROPN
dem-11741	389	30	w	w	PROPN
dem-11741	389	31	warszawie	warszawie	PROPN
dem-11741	389	32	przed	prze	VERB
dem-11741	389	33	i	i	PRON
dem-11741	389	34	po	po	PROPN
dem-11741	389	35	kryzysie	kryzysie	PROPN
dem-11741	389	36	subprime	subprime	PROPN
dem-11741	389	37	.	.	PUNCT
dem-11741	390	1	badania	badania	PROPN
dem-11741	390	2	empiryczne	empiryczne	PROPN
dem-11741	390	3	dotyczą	dotyczą	PROPN
dem-11741	390	4	wybranych	wybranych	VERB
dem-11741	390	5	przedsiębiorstw	przedsiębiorstw	PROPN
dem-11741	390	6	z	z	PROPN
dem-11741	390	7	sektorów	sektorów	PROPN
dem-11741	391	1	budownictwo	budownictwo	INTJ
dem-11741	392	1	i	i	PRON
dem-11741	392	2	it	it	PRON
dem-11741	392	3	w	w	ADV
dem-11741	392	4	latach	latach	NOUN
dem-11741	392	5	2004–2011	2004–2011	NUM
dem-11741	392	6	.	.	PUNCT
dem-11741	393	1	miary	miary	PROPN
dem-11741	393	2	zmienności	zmienności	PROPN
dem-11741	393	3	zostały	zostały	PROPN
dem-11741	393	4	obliczone	obliczone	PROPN
dem-11741	393	5	na	na	AUX
dem-11741	393	6	podstawie	podstawie	INTJ
dem-11741	393	7	najniższego	najniższego	INTJ
dem-11741	394	1	i	i	PRON
dem-11741	394	2	najwyższego	najwyższego	PROPN
dem-11741	394	3	kursu	kursu	PROPN
dem-11741	394	4	dziennego	dziennego	PROPN
dem-11741	394	5	spółek	spółek	PROPN
dem-11741	394	6	należących	należących	VERB
dem-11741	394	7	http://dx.doi.org/10.1016/j.irfa.2011.06.012	http://dx.doi.org/10.1016/j.irfa.2011.06.012	ADV
dem-11741	394	8	http://dx.doi.org/10.1016/s1042-444x(03)00015-x	http://dx.doi.org/10.1016/s1042-444x(03)00015-x	ADJ
dem-11741	394	9	http://dx.doi.org/10.1016/j.ecosys.2013.12.003	http://dx.doi.org/10.1016/j.ecosys.2013.12.003	PROPN
dem-11741	394	10	http://dx.doi.org/10.3905/jpm.2009.35.3.098	http://dx.doi.org/10.3905/jpm.2009.35.3.098	PROPN
dem-11741	394	11	włodarczyk	włodarczyk	NOUN
dem-11741	394	12	,	,	PUNCT
dem-11741	394	13	otola	otola	PROPN
dem-11741	394	14	dynamic	dynamic	ADJ
dem-11741	394	15	econometric	econometric	ADJ
dem-11741	394	16	models	model	NOUN
dem-11741	394	17	16	16	NUM
dem-11741	394	18	(	(	PUNCT
dem-11741	394	19	2016	2016	NUM
dem-11741	394	20	)	)	PUNCT
dem-11741	395	1	87–116	87–116	NUM
dem-11741	395	2	116	116	NUM
dem-11741	395	3	do	do	VERB
dem-11741	395	4	indeksu	indeksu	PROPN
dem-11741	395	5	wig	wig	PROPN
dem-11741	395	6	.	.	PUNCT
dem-11741	396	1	dla	dla	NOUN
dem-11741	396	2	każdej	każdej	PROPN
dem-11741	396	3	firmy	firmy	PROPN
dem-11741	396	4	został	został	PROPN
dem-11741	396	5	oszacowany	oszacowany	PROPN
dem-11741	396	6	,	,	PUNCT
dem-11741	396	7	zarówno	zarówno	PROPN
dem-11741	396	8	dla	dla	NOUN
dem-11741	396	9	okresu	okresu	PROPN
dem-11741	396	10	stabilnego	stabilnego	PROPN
dem-11741	396	11	,	,	PUNCT
dem-11741	396	12	jak	jak	PROPN
dem-11741	397	1	i	i	PRON
dem-11741	397	2	niestabilnego	niestabilnego	PROPN
dem-11741	397	3	,	,	PUNCT
dem-11741	397	4	model	model	NOUN
dem-11741	397	5	arfimax	arfimax	PROPN
dem-11741	397	6	-	-	PUNCT
dem-11741	397	7	figarch	figarch	NOUN
dem-11741	397	8	z	z	NOUN
dem-11741	397	9	dodatkowymi	dodatkowymi	VERB
dem-11741	397	10	zmiennymi	zmiennymi	NOUN
dem-11741	397	11	egzogenicznymi	egzogenicznymi	NOUN
dem-11741	397	12	,	,	PUNCT
dem-11741	397	13	odzwierciedlającymi	odzwierciedlającymi	VERB
dem-11741	397	14	zmienność	zmienność	NOUN
dem-11741	397	15	rynku	rynku	ADJ
dem-11741	397	16	.	.	PUNCT
dem-11741	398	1	przeprowadzone	przeprowadzone	NOUN
dem-11741	398	2	badania	badania	PROPN
dem-11741	398	3	empiryczne	empiryczne	PROPN
dem-11741	398	4	nie	nie	PROPN
dem-11741	398	5	wykazały	wykazały	PROPN
dem-11741	398	6	,	,	PUNCT
dem-11741	398	7	że	że	X
dem-11741	398	8	negatywne	negatywne	PROPN
dem-11741	398	9	szoki	szoki	VERB
dem-11741	398	10	płynące	płynące	ADJ
dem-11741	398	11	z	z	PROPN
dem-11741	398	12	rynku	rynku	PROPN
dem-11741	398	13	amerykańskiego	amerykańskiego	PROPN
dem-11741	398	14	przez	przez	PROPN
dem-11741	398	15	kanał	kanał	PROPN
dem-11741	398	16	zachowań	zachowań	NOUN
dem-11741	398	17	inwestorów	inwestorów	NOUN
dem-11741	398	18	przyczyniły	przyczyniły	NOUN
dem-11741	398	19	się	się	NOUN
dem-11741	398	20	do	do	AUX
dem-11741	398	21	wzrostu	wzrostu	PROPN
dem-11741	398	22	frakcji	frakcji	PROPN
dem-11741	398	23	firm	firm	PROPN
dem-11741	398	24	z	z	PROPN
dem-11741	398	25	sektorów	sektorów	PROPN
dem-11741	398	26	budownictwa	budownictwa	PROPN
dem-11741	399	1	i	i	PRON
dem-11741	399	2	it	it	PRON
dem-11741	399	3	notowanych	notowanych	VERB
dem-11741	399	4	na	na	ADP
dem-11741	399	5	gpw	gpw	NOUN
dem-11741	399	6	,	,	PUNCT
dem-11741	399	7	których	których	NOUN
dem-11741	399	8	zmienność	zmienność	PROPN
dem-11741	399	9	jest	jest	PROPN
dem-11741	399	10	kształtowana	kształtowana	PROPN
dem-11741	399	11	przez	przez	PROPN
dem-11741	399	12	zmienność	zmienność	NOUN
dem-11741	399	13	rynku	rynku	ADJ
dem-11741	399	14	.	.	PUNCT
dem-11741	400	1	s	s	PART
dem-11741	400	2	ł	ł	PROPN
dem-11741	400	3	o	o	X
dem-11741	400	4	w	w	NOUN
dem-11741	400	5	a	a	DET
dem-11741	400	6	k	k	X
dem-11741	400	7	l	l	NOUN
dem-11741	400	8	u	u	NOUN
dem-11741	401	1	c	c	NOUN
dem-11741	401	2	z	z	NOUN
dem-11741	401	3	o	o	X
dem-11741	401	4	w	w	PROPN
dem-11741	401	5	e	e	NOUN
dem-11741	401	6	:	:	PUNCT
dem-11741	401	7	arfimax	arfimax	ADJ
dem-11741	401	8	-	-	PUNCT
dem-11741	401	9	figarch	figarch	NOUN
dem-11741	401	10	,	,	PUNCT
dem-11741	401	11	kryzys	kryzys	PROPN
dem-11741	401	12	subprime	subprime	NOUN
dem-11741	401	13	,	,	PUNCT
dem-11741	401	14	zmienność	zmienność	NOUN
dem-11741	401	15	firm	firm	NOUN
dem-11741	401	16	,	,	PUNCT
dem-11741	401	17	zmienność	zmienność	NOUN
dem-11741	401	18	rynku	rynku	ADJ
dem-11741	401	19	,	,	PUNCT
dem-11741	401	20	giełda	giełda	NOUN
dem-11741	401	21	papierów	papierów	PROPN
dem-11741	401	22	wartościowych	wartościowych	PROPN
dem-11741	401	23	w	w	NOUN
dem-11741	401	24	warszawie	warszawie	PROPN
dem-11741	401	25	.	.	PUNCT