id	sid	tid	token	lemma	pos
dem-15805	1	1	2017	2017	NUM
dem-15805	1	2	nicolaus	nicolaus	PROPN
dem-15805	1	3	copernicus	copernicus	PROPN
dem-15805	1	4	university	university	PROPN
dem-15805	1	5	.	.	PUNCT
dem-15805	2	1	all	all	DET
dem-15805	2	2	rights	right	NOUN
dem-15805	2	3	reserved	reserve	VERB
dem-15805	2	4	.	.	PUNCT
dem-15805	3	1	http://www.dem.umk.pl/dem	http://www.dem.umk.pl/dem	PROPN
dem-15805	4	1	d	d	PUNCT
dem-15805	4	2	y	y	PROPN
dem-15805	4	3	n	n	PROPN
dem-15805	4	4	a	a	PRON
dem-15805	4	5	m	m	VERB
dem-15805	5	1	i	i	NOUN
dem-15805	5	2	c	c	NOUN
dem-15805	5	3	e	e	NOUN
dem-15805	5	4	c	c	NOUN
dem-15805	5	5	o	o	X
dem-15805	6	1	n	n	INTJ
dem-15805	6	2	o	o	NOUN
dem-15805	6	3	m	m	VERB
dem-15805	7	1	e	e	NOUN
dem-15805	7	2	t	t	NOUN
dem-15805	7	3	r	r	NOUN
dem-15805	7	4	i	i	NOUN
dem-15805	7	5	c	c	NOUN
dem-15805	7	6	m	m	VERB
dem-15805	7	7	o	o	NOUN
dem-15805	7	8	d	d	X
dem-15805	7	9	e	e	X
dem-15805	7	10	l	l	NOUN
dem-15805	7	11	s	s	X
dem-15805	7	12	doi	doi	NOUN
dem-15805	7	13	:	:	PUNCT
dem-15805	7	14	http://dx.doi.org/10.12775/dem.2017.009	http://dx.doi.org/10.12775/dem.2017.009	NUM
dem-15805	7	15	vol	vol	NOUN
dem-15805	7	16	.	.	PROPN
dem-15805	8	1	17	17	NUM
dem-15805	8	2	(	(	PUNCT
dem-15805	8	3	2017	2017	NUM
dem-15805	8	4	)	)	PUNCT
dem-15805	9	1	147−159	147−159	NUM
dem-15805	9	2	submitted	submit	VERB
dem-15805	9	3	november	november	PROPN
dem-15805	9	4	28	28	NUM
dem-15805	9	5	,	,	PUNCT
dem-15805	9	6	2017	2017	NUM
dem-15805	9	7	issn	issn	X
dem-15805	9	8	(	(	PUNCT
dem-15805	9	9	online	online	ADJ
dem-15805	9	10	)	)	PUNCT
dem-15805	9	11	2450	2450	NUM
dem-15805	9	12	-	-	SYM
dem-15805	9	13	7067	7067	NUM
dem-15805	9	14	accepted	accept	VERB
dem-15805	9	15	december	december	PROPN
dem-15805	9	16	28	28	NUM
dem-15805	9	17	,	,	PUNCT
dem-15805	9	18	2017	2017	NUM
dem-15805	9	19	issn	issn	PROPN
dem-15805	9	20	(	(	PUNCT
dem-15805	9	21	print	print	NOUN
dem-15805	9	22	)	)	PUNCT
dem-15805	9	23	1234	1234	NUM
dem-15805	9	24	-	-	SYM
dem-15805	9	25	3862	3862	NUM
dem-15805	9	26	dorota	dorota	PROPN
dem-15805	9	27	witkowska	witkowska	PROPN
dem-15805	9	28	,	,	PUNCT
dem-15805	9	29	krzysztof	krzysztof	PROPN
dem-15805	9	30	kompa	kompa	PROPN
dem-15805	10	1	*	*	PUNCT
dem-15805	10	2	how	how	SCONJ
dem-15805	10	3	the	the	DET
dem-15805	10	4	change	change	NOUN
dem-15805	10	5	of	of	ADP
dem-15805	10	6	governing	govern	VERB
dem-15805	10	7	party	party	NOUN
dem-15805	10	8	influences	influence	VERB
dem-15805	10	9	the	the	DET
dem-15805	10	10	efficiency	efficiency	NOUN
dem-15805	10	11	of	of	ADP
dem-15805	10	12	financial	financial	ADJ
dem-15805	10	13	market	market	NOUN
dem-15805	10	14	in	in	ADP
dem-15805	10	15	poland	poland	PROPN
dem-15805	10	16	a	a	DET
dem-15805	10	17	b	b	PROPN
dem-15805	10	18	s	s	ADP
dem-15805	10	19	t	t	PROPN
dem-15805	10	20	r	r	NOUN
dem-15805	10	21	a	a	DET
dem-15805	10	22	c	c	NOUN
dem-15805	10	23	t.	t.	NOUN
dem-15805	10	24	financial	financial	ADJ
dem-15805	10	25	market	market	NOUN
dem-15805	10	26	seems	seem	VERB
dem-15805	10	27	to	to	PART
dem-15805	10	28	be	be	AUX
dem-15805	10	29	sensitive	sensitive	ADJ
dem-15805	10	30	to	to	ADP
dem-15805	10	31	political	political	ADJ
dem-15805	10	32	changes	change	NOUN
dem-15805	10	33	,	,	PUNCT
dem-15805	10	34	especially	especially	ADV
dem-15805	10	35	when	when	SCONJ
dem-15805	10	36	the	the	DET
dem-15805	10	37	change	change	NOUN
dem-15805	10	38	of	of	ADP
dem-15805	10	39	governing	govern	VERB
dem-15805	10	40	party	party	NOUN
dem-15805	10	41	is	be	AUX
dem-15805	10	42	connected	connect	VERB
dem-15805	10	43	with	with	ADP
dem-15805	10	44	essential	essential	ADJ
dem-15805	10	45	changes	change	NOUN
dem-15805	10	46	of	of	ADP
dem-15805	10	47	the	the	DET
dem-15805	10	48	economic	economic	ADJ
dem-15805	10	49	development	development	NOUN
dem-15805	10	50	concepts	concept	NOUN
dem-15805	10	51	.	.	PUNCT
dem-15805	11	1	such	such	ADJ
dem-15805	11	2	situation	situation	NOUN
dem-15805	11	3	took	take	VERB
dem-15805	11	4	place	place	NOUN
dem-15805	11	5	in	in	ADP
dem-15805	11	6	poland	poland	PROPN
dem-15805	11	7	in	in	ADP
dem-15805	11	8	2015	2015	NUM
dem-15805	11	9	,	,	PUNCT
dem-15805	11	10	as	as	ADP
dem-15805	11	11	a	a	DET
dem-15805	11	12	result	result	NOUN
dem-15805	11	13	of	of	ADP
dem-15805	11	14	the	the	DET
dem-15805	11	15	presidential	presidential	ADJ
dem-15805	11	16	and	and	CCONJ
dem-15805	11	17	parliamentary	parliamentary	ADJ
dem-15805	11	18	elections	election	NOUN
dem-15805	11	19	.	.	PUNCT
dem-15805	12	1	the	the	DET
dem-15805	12	2	aim	aim	NOUN
dem-15805	12	3	of	of	ADP
dem-15805	12	4	our	our	PRON
dem-15805	12	5	research	research	NOUN
dem-15805	12	6	is	be	AUX
dem-15805	12	7	to	to	PART
dem-15805	12	8	investigate	investigate	VERB
dem-15805	12	9	the	the	DET
dem-15805	12	10	changes	change	NOUN
dem-15805	12	11	occurred	occur	VERB
dem-15805	12	12	on	on	ADP
dem-15805	12	13	the	the	DET
dem-15805	12	14	market	market	NOUN
dem-15805	12	15	,	,	PUNCT
dem-15805	12	16	represented	represent	VERB
dem-15805	12	17	by	by	ADP
dem-15805	12	18	some	some	DET
dem-15805	12	19	stable	stable	ADJ
dem-15805	12	20	growth	growth	NOUN
dem-15805	12	21	open	open	VERB
dem-15805	12	22	mutual	mutual	ADJ
dem-15805	12	23	funds	fund	NOUN
dem-15805	12	24	,	,	PUNCT
dem-15805	12	25	and	and	CCONJ
dem-15805	12	26	stock	stock	NOUN
dem-15805	12	27	indexes	index	NOUN
dem-15805	12	28	:	:	PUNCT
dem-15805	12	29	wig	wig	NOUN
dem-15805	12	30	and	and	CCONJ
dem-15805	12	31	tbsp	tbsp	NOUN
dem-15805	12	32	.	.	PUNCT
dem-15805	13	1	analysis	analysis	NOUN
dem-15805	13	2	is	be	AUX
dem-15805	13	3	provided	provide	VERB
dem-15805	13	4	applying	apply	VERB
dem-15805	13	5	single	single	ADJ
dem-15805	13	6	index	index	NOUN
dem-15805	13	7	and	and	CCONJ
dem-15805	13	8	capm	capm	NOUN
dem-15805	13	9	models	model	NOUN
dem-15805	13	10	,	,	PUNCT
dem-15805	13	11	classical	classical	ADJ
dem-15805	13	12	investment	investment	NOUN
dem-15805	13	13	performance	performance	NOUN
dem-15805	13	14	measures	measure	NOUN
dem-15805	13	15	,	,	PUNCT
dem-15805	13	16	and	and	CCONJ
dem-15805	13	17	statistical	statistical	ADJ
dem-15805	13	18	interference	interference	NOUN
dem-15805	13	19	.	.	PUNCT
dem-15805	14	1	k	k	PROPN
dem-15805	14	2	e	e	PROPN
dem-15805	14	3	y	y	PROPN
dem-15805	14	4	w	w	NOUN
dem-15805	14	5	o	o	NOUN
dem-15805	14	6	r	r	NOUN
dem-15805	14	7	d	d	PROPN
dem-15805	14	8	s	s	NOUN
dem-15805	14	9	:	:	PUNCT
dem-15805	14	10	stable	stable	ADJ
dem-15805	14	11	growth	growth	NOUN
dem-15805	14	12	open	open	VERB
dem-15805	14	13	mutual	mutual	ADJ
dem-15805	14	14	funds	fund	NOUN
dem-15805	14	15	,	,	PUNCT
dem-15805	14	16	investment	investment	NOUN
dem-15805	14	17	efficiency	efficiency	NOUN
dem-15805	14	18	,	,	PUNCT
dem-15805	14	19	sharpe	sharpe	PROPN
dem-15805	14	20	model	model	PROPN
dem-15805	14	21	,	,	PUNCT
dem-15805	14	22	capm	capm	PROPN
dem-15805	14	23	,	,	PUNCT
dem-15805	14	24	sharpe	sharpe	PROPN
dem-15805	14	25	,	,	PUNCT
dem-15805	14	26	treynor	treynor	NOUN
dem-15805	14	27	and	and	CCONJ
dem-15805	14	28	jensen	jensen	PROPN
dem-15805	14	29	ratios	ratio	NOUN
dem-15805	14	30	.	.	PUNCT
dem-15805	15	1	j	j	PROPN
dem-15805	15	2	e	e	PROPN
dem-15805	15	3	l	l	PROPN
dem-15805	15	4	classification	classification	NOUN
dem-15805	15	5	:	:	PUNCT
dem-15805	15	6	g11	g11	PROPN
dem-15805	15	7	;	;	PUNCT
dem-15805	15	8	c12	c12	PROPN
dem-15805	15	9	.	.	PUNCT
dem-15805	16	1	introduction	introduction	NOUN
dem-15805	16	2	financial	financial	ADJ
dem-15805	16	3	market	market	NOUN
dem-15805	16	4	seems	seem	VERB
dem-15805	16	5	to	to	PART
dem-15805	16	6	be	be	AUX
dem-15805	16	7	sensitive	sensitive	ADJ
dem-15805	16	8	to	to	ADP
dem-15805	16	9	political	political	ADJ
dem-15805	16	10	changes	change	NOUN
dem-15805	16	11	,	,	PUNCT
dem-15805	16	12	especially	especially	ADV
dem-15805	16	13	when	when	SCONJ
dem-15805	16	14	the	the	DET
dem-15805	16	15	change	change	NOUN
dem-15805	16	16	of	of	ADP
dem-15805	16	17	governing	govern	VERB
dem-15805	16	18	party	party	NOUN
dem-15805	16	19	is	be	AUX
dem-15805	16	20	connected	connect	VERB
dem-15805	16	21	with	with	ADP
dem-15805	16	22	essential	essential	ADJ
dem-15805	16	23	changes	change	NOUN
dem-15805	16	24	of	of	ADP
dem-15805	16	25	the	the	DET
dem-15805	16	26	concepts	concept	NOUN
dem-15805	16	27	concerning	concern	VERB
dem-15805	16	28	economic	economic	ADJ
dem-15805	16	29	development	development	NOUN
dem-15805	16	30	.	.	PUNCT
dem-15805	17	1	such	such	ADJ
dem-15805	17	2	situation	situation	NOUN
dem-15805	17	3	took	take	VERB
dem-15805	17	4	place	place	NOUN
dem-15805	17	5	in	in	ADP
dem-15805	17	6	poland	poland	PROPN
dem-15805	17	7	at	at	ADP
dem-15805	17	8	the	the	DET
dem-15805	17	9	end	end	NOUN
dem-15805	17	10	of	of	ADP
dem-15805	17	11	2015	2015	NUM
dem-15805	17	12	,	,	PUNCT
dem-15805	17	13	as	as	ADP
dem-15805	17	14	a	a	DET
dem-15805	17	15	result	result	NOUN
dem-15805	17	16	of	of	ADP
dem-15805	17	17	the	the	DET
dem-15805	17	18	presidential	presidential	ADJ
dem-15805	17	19	and	and	CCONJ
dem-15805	17	20	parliamentary	parliamentary	ADJ
dem-15805	17	21	elections	election	NOUN
dem-15805	17	22	that	that	PRON
dem-15805	17	23	were	be	AUX
dem-15805	17	24	won	win	VERB
dem-15805	17	25	by	by	ADP
dem-15805	17	26	the	the	DET
dem-15805	17	27	law	law	NOUN
dem-15805	17	28	and	and	CCONJ
dem-15805	17	29	justice	justice	PROPN
dem-15805	17	30	party	party	PROPN
dem-15805	17	31	(	(	PUNCT
dem-15805	17	32	pis	pis	PROPN
dem-15805	17	33	)	)	PUNCT
dem-15805	17	34	which	which	PRON
dem-15805	17	35	was	be	AUX
dem-15805	17	36	in	in	ADP
dem-15805	17	37	an	an	DET
dem-15805	17	38	opposition	opposition	NOUN
dem-15805	17	39	to	to	ADP
dem-15805	17	40	the	the	DET
dem-15805	17	41	government	government	NOUN
dem-15805	17	42	during	during	ADP
dem-15805	17	43	two	two	NUM
dem-15805	17	44	last	last	ADJ
dem-15805	17	45	terms	term	NOUN
dem-15805	17	46	.	.	PUNCT
dem-15805	18	1	now	now	ADV
dem-15805	18	2	pis	pis	PROPN
dem-15805	18	3	is	be	AUX
dem-15805	18	4	the	the	DET
dem-15805	18	5	largest	large	ADJ
dem-15805	18	6	*	*	PUNCT
dem-15805	18	7	correspondence	correspondence	NOUN
dem-15805	18	8	to	to	ADP
dem-15805	18	9	:	:	PUNCT
dem-15805	18	10	krzysztof	krzysztof	PROPN
dem-15805	18	11	kompa	kompa	PROPN
dem-15805	18	12	,	,	PUNCT
dem-15805	18	13	warsaw	warsaw	PROPN
dem-15805	18	14	university	university	PROPN
dem-15805	18	15	of	of	ADP
dem-15805	18	16	life	life	PROPN
dem-15805	18	17	sciences	sciences	PROPN
dem-15805	18	18	,	,	PUNCT
dem-15805	18	19	department	department	NOUN
dem-15805	18	20	of	of	ADP
dem-15805	18	21	econometrics	econometric	NOUN
dem-15805	18	22	and	and	CCONJ
dem-15805	18	23	statistics	statistic	NOUN
dem-15805	18	24	,	,	PUNCT
dem-15805	18	25	166	166	NUM
dem-15805	18	26	nowoursynowska	nowoursynowska	PROPN
dem-15805	18	27	street	street	PROPN
dem-15805	18	28	,	,	PUNCT
dem-15805	18	29	02	02	NUM
dem-15805	18	30	-	-	SYM
dem-15805	18	31	787	787	NUM
dem-15805	18	32	warsaw	warsaw	PROPN
dem-15805	18	33	,	,	PUNCT
dem-15805	18	34	poland	poland	PROPN
dem-15805	18	35	,	,	PUNCT
dem-15805	18	36	e	e	NOUN
dem-15805	18	37	-	-	NOUN
dem-15805	18	38	mail	mail	NOUN
dem-15805	18	39	:	:	PUNCT
dem-15805	18	40	krzysztof_kompa@sggw.pl	krzysztof_kompa@sggw.pl	ADV
dem-15805	18	41	;	;	PUNCT
dem-15805	18	42	dorota	dorota	PROPN
dem-15805	18	43	witkowska	witkowska	PROPN
dem-15805	18	44	,	,	PUNCT
dem-15805	18	45	university	university	PROPN
dem-15805	18	46	of	of	ADP
dem-15805	18	47	lodz	lodz	PROPN
dem-15805	18	48	,	,	PUNCT
dem-15805	18	49	faculty	faculty	NOUN
dem-15805	18	50	of	of	ADP
dem-15805	18	51	management	management	NOUN
dem-15805	18	52	,	,	PUNCT
dem-15805	18	53	department	department	NOUN
dem-15805	18	54	of	of	ADP
dem-15805	18	55	finance	finance	NOUN
dem-15805	18	56	and	and	CCONJ
dem-15805	18	57	strategic	strategic	ADJ
dem-15805	18	58	management	management	NOUN
dem-15805	18	59	,	,	PUNCT
dem-15805	18	60	22/26	22/26	NUM
dem-15805	18	61	matejki	matejki	PROPN
dem-15805	18	62	street	street	NOUN
dem-15805	18	63	,	,	PUNCT
dem-15805	18	64	90	90	NUM
dem-15805	18	65	-	-	SYM
dem-15805	18	66	237	237	NUM
dem-15805	18	67	łódź	łódź	PROPN
dem-15805	18	68	,	,	PUNCT
dem-15805	18	69	poland	poland	PROPN
dem-15805	18	70	,	,	PUNCT
dem-15805	18	71	e	e	NOUN
dem-15805	18	72	-	-	NOUN
dem-15805	18	73	mail	mail	NOUN
dem-15805	18	74	:	:	PUNCT
dem-15805	18	75	dorota.witkowska@uni.lodz.pl	dorota.witkowska@uni.lodz.pl	PROPN
dem-15805	18	76	.	.	PUNCT
dem-15805	19	1	https://orcid.org/0000-0001-9538-9589	https://orcid.org/0000-0001-9538-9589	NOUN
dem-15805	19	2	http://orcid.org/0000-0002-2810-6654	http://orcid.org/0000-0002-2810-6654	PROPN
dem-15805	19	3	dorota	dorota	PROPN
dem-15805	19	4	witkowska	witkowska	PROPN
dem-15805	19	5	,	,	PUNCT
dem-15805	19	6	krzysztof	krzysztof	PROPN
dem-15805	19	7	kompa	kompa	VERB
dem-15805	19	8	dynamic	dynamic	ADJ
dem-15805	19	9	econometric	econometric	ADJ
dem-15805	19	10	models	model	NOUN
dem-15805	19	11	17	17	NUM
dem-15805	19	12	(	(	PUNCT
dem-15805	19	13	2017	2017	NUM
dem-15805	19	14	)	)	PUNCT
dem-15805	19	15	147–159	147–159	NUM
dem-15805	19	16	148	148	NUM
dem-15805	19	17	party	party	NOUN
dem-15805	19	18	in	in	ADP
dem-15805	19	19	the	the	DET
dem-15805	19	20	polish	polish	ADJ
dem-15805	19	21	parliament	parliament	NOUN
dem-15805	19	22	having	have	VERB
dem-15805	19	23	majority	majority	NOUN
dem-15805	19	24	in	in	ADP
dem-15805	19	25	both	both	DET
dem-15805	19	26	chambers	chamber	NOUN
dem-15805	19	27	of	of	ADP
dem-15805	19	28	parliament	parliament	NOUN
dem-15805	19	29	.	.	PUNCT
dem-15805	20	1	the	the	DET
dem-15805	20	2	governing	govern	VERB
dem-15805	20	3	party	party	NOUN
dem-15805	20	4	introduced	introduce	VERB
dem-15805	20	5	program	program	NOUN
dem-15805	20	6	called	call	VERB
dem-15805	20	7	“	"	PUNCT
dem-15805	20	8	good	good	ADJ
dem-15805	20	9	change	change	NOUN
dem-15805	20	10	”	"	PUNCT
dem-15805	20	11	consisting	consist	VERB
dem-15805	20	12	in	in	ADP
dem-15805	20	13	populist	populist	ADJ
dem-15805	20	14	movements	movement	NOUN
dem-15805	20	15	such	such	ADJ
dem-15805	20	16	as	as	ADP
dem-15805	20	17	decreasing	decrease	VERB
dem-15805	20	18	of	of	ADP
dem-15805	20	19	the	the	DET
dem-15805	20	20	retirement	retirement	NOUN
dem-15805	20	21	age	age	NOUN
dem-15805	20	22	or	or	CCONJ
dem-15805	20	23	the	the	DET
dem-15805	20	24	500	500	NUM
dem-15805	20	25	+	+	CCONJ
dem-15805	20	26	familly	familly	ADV
dem-15805	20	27	programme	programme	NOUN
dem-15805	20	28	,	,	PUNCT
dem-15805	20	29	etc	etc	X
dem-15805	20	30	.	.	X
dem-15805	20	31	which	which	PRON
dem-15805	20	32	burden	burden	VERB
dem-15805	20	33	the	the	DET
dem-15805	20	34	economy	economy	NOUN
dem-15805	20	35	and	and	CCONJ
dem-15805	20	36	may	may	AUX
dem-15805	20	37	affect	affect	VERB
dem-15805	20	38	the	the	DET
dem-15805	20	39	financial	financial	ADJ
dem-15805	20	40	market	market	NOUN
dem-15805	20	41	.	.	PUNCT
dem-15805	21	1	therefore	therefore	ADV
dem-15805	21	2	,	,	PUNCT
dem-15805	21	3	here	here	ADV
dem-15805	21	4	a	a	DET
dem-15805	21	5	question	question	NOUN
dem-15805	21	6	arises	arise	VERB
dem-15805	21	7	how	how	SCONJ
dem-15805	21	8	the	the	DET
dem-15805	21	9	change	change	NOUN
dem-15805	21	10	of	of	ADP
dem-15805	21	11	ruling	rule	VERB
dem-15805	21	12	party	party	NOUN
dem-15805	21	13	and	and	CCONJ
dem-15805	21	14	their	their	PRON
dem-15805	21	15	economic	economic	ADJ
dem-15805	21	16	program	program	NOUN
dem-15805	21	17	influence	influence	NOUN
dem-15805	21	18	the	the	DET
dem-15805	21	19	situation	situation	NOUN
dem-15805	21	20	of	of	ADP
dem-15805	21	21	polish	polish	ADJ
dem-15805	21	22	financial	financial	ADJ
dem-15805	21	23	market	market	NOUN
dem-15805	21	24	.	.	PUNCT
dem-15805	22	1	the	the	DET
dem-15805	22	2	answer	answer	NOUN
dem-15805	22	3	is	be	AUX
dem-15805	22	4	not	not	PART
dem-15805	22	5	easy	easy	ADJ
dem-15805	22	6	especially	especially	ADV
dem-15805	22	7	that	that	SCONJ
dem-15805	22	8	both	both	DET
dem-15805	22	9	sides	side	NOUN
dem-15805	22	10	i.e.	i.e.	X
dem-15805	22	11	governing	governing	NOUN
dem-15805	22	12	and	and	CCONJ
dem-15805	22	13	opposite	opposite	ADJ
dem-15805	22	14	parties	party	NOUN
dem-15805	22	15	presented	present	VERB
dem-15805	22	16	completely	completely	ADV
dem-15805	22	17	different	different	ADJ
dem-15805	22	18	arguments	argument	NOUN
dem-15805	22	19	which	which	PRON
dem-15805	22	20	had	have	VERB
dem-15805	22	21	rather	rather	ADV
dem-15805	22	22	political	political	ADJ
dem-15805	22	23	than	than	ADP
dem-15805	22	24	economic	economic	ADJ
dem-15805	22	25	character	character	NOUN
dem-15805	22	26	.	.	PUNCT
dem-15805	23	1	pis	pis	PROPN
dem-15805	23	2	was	be	AUX
dem-15805	23	3	emphasizing	emphasize	VERB
dem-15805	23	4	social	social	ADJ
dem-15805	23	5	benefits	benefit	NOUN
dem-15805	23	6	of	of	ADP
dem-15805	23	7	proposed	propose	VERB
dem-15805	23	8	programs	program	NOUN
dem-15805	23	9	while	while	SCONJ
dem-15805	23	10	the	the	DET
dem-15805	23	11	opposition	opposition	NOUN
dem-15805	23	12	was	be	AUX
dem-15805	23	13	highlighting	highlight	VERB
dem-15805	23	14	the	the	DET
dem-15805	23	15	economic	economic	ADJ
dem-15805	23	16	consequences	consequence	NOUN
dem-15805	23	17	and	and	CCONJ
dem-15805	23	18	threats	threat	NOUN
dem-15805	23	19	for	for	ADP
dem-15805	23	20	the	the	DET
dem-15805	23	21	budget	budget	NOUN
dem-15805	23	22	.	.	PUNCT
dem-15805	24	1	some	some	DET
dem-15805	24	2	economists	economist	NOUN
dem-15805	24	3	even	even	ADV
dem-15805	24	4	forecasted	forecast	VERB
dem-15805	24	5	that	that	SCONJ
dem-15805	24	6	financial	financial	ADJ
dem-15805	24	7	market	market	NOUN
dem-15805	24	8	in	in	ADP
dem-15805	24	9	poland	poland	PROPN
dem-15805	24	10	may	may	AUX
dem-15805	24	11	collapse	collapse	VERB
dem-15805	24	12	since	since	SCONJ
dem-15805	24	13	investors	investor	NOUN
dem-15805	24	14	do	do	AUX
dem-15805	24	15	not	not	PART
dem-15805	24	16	trust	trust	VERB
dem-15805	24	17	markets	market	NOUN
dem-15805	24	18	with	with	ADP
dem-15805	24	19	high	high	ADJ
dem-15805	24	20	political	political	ADJ
dem-15805	24	21	risk	risk	NOUN
dem-15805	24	22	which	which	PRON
dem-15805	24	23	comes	come	VERB
dem-15805	24	24	from	from	ADP
dem-15805	24	25	social	social	ADJ
dem-15805	24	26	programs	program	NOUN
dem-15805	24	27	together	together	ADV
dem-15805	24	28	with	with	ADP
dem-15805	24	29	controversial	controversial	ADJ
dem-15805	24	30	economic	economic	ADJ
dem-15805	24	31	proposals	proposal	NOUN
dem-15805	24	32	such	such	ADJ
dem-15805	24	33	as	as	ADP
dem-15805	24	34	increasing	increase	VERB
dem-15805	24	35	taxes	taxis	NOUN
dem-15805	24	36	from	from	ADP
dem-15805	24	37	the	the	DET
dem-15805	24	38	banking	banking	NOUN
dem-15805	24	39	sector	sector	NOUN
dem-15805	24	40	or	or	CCONJ
dem-15805	24	41	supermarkets	supermarket	NOUN
dem-15805	24	42	.	.	PUNCT
dem-15805	25	1	therefore	therefore	ADV
dem-15805	25	2	,	,	PUNCT
dem-15805	25	3	the	the	DET
dem-15805	25	4	aim	aim	NOUN
dem-15805	25	5	of	of	ADP
dem-15805	25	6	our	our	PRON
dem-15805	25	7	research	research	NOUN
dem-15805	25	8	is	be	AUX
dem-15805	25	9	to	to	PART
dem-15805	25	10	find	find	VERB
dem-15805	25	11	out	out	ADP
dem-15805	25	12	how	how	SCONJ
dem-15805	25	13	the	the	DET
dem-15805	25	14	change	change	NOUN
dem-15805	25	15	on	on	ADP
dem-15805	25	16	the	the	DET
dem-15805	25	17	political	political	ADJ
dem-15805	25	18	scene	scene	NOUN
dem-15805	25	19	affected	affect	VERB
dem-15805	25	20	the	the	DET
dem-15805	25	21	performance	performance	NOUN
dem-15805	25	22	of	of	ADP
dem-15805	25	23	equity	equity	NOUN
dem-15805	25	24	and	and	CCONJ
dem-15805	25	25	bond	bond	NOUN
dem-15805	25	26	markets	market	NOUN
dem-15805	25	27	,	,	PUNCT
dem-15805	25	28	together	together	ADV
dem-15805	25	29	with	with	ADP
dem-15805	25	30	stable	stable	ADJ
dem-15805	25	31	growth	growth	NOUN
dem-15805	25	32	mutual	mutual	ADJ
dem-15805	25	33	funds	fund	NOUN
dem-15805	25	34	(	(	PUNCT
dem-15805	25	35	fio	fio	NOUN
dem-15805	25	36	)	)	PUNCT
dem-15805	25	37	,	,	PUNCT
dem-15805	25	38	applying	apply	VERB
dem-15805	25	39	single	single	ADJ
dem-15805	25	40	index	index	NOUN
dem-15805	25	41	and	and	CCONJ
dem-15805	25	42	capital	capital	NOUN
dem-15805	25	43	assets	asset	NOUN
dem-15805	25	44	pricing	pricing	NOUN
dem-15805	25	45	models	model	NOUN
dem-15805	25	46	together	together	ADV
dem-15805	25	47	with	with	ADP
dem-15805	25	48	classical	classical	ADJ
dem-15805	25	49	investment	investment	NOUN
dem-15805	25	50	performance	performance	NOUN
dem-15805	25	51	measures	measure	NOUN
dem-15805	25	52	and	and	CCONJ
dem-15805	25	53	statistical	statistical	ADJ
dem-15805	25	54	interference	interference	NOUN
dem-15805	25	55	.	.	PUNCT
dem-15805	26	1	1	1	X
dem-15805	26	2	.	.	X
dem-15805	26	3	data	datum	NOUN
dem-15805	26	4	and	and	CCONJ
dem-15805	26	5	methodology	methodology	NOUN
dem-15805	26	6	our	our	PRON
dem-15805	26	7	investigation	investigation	NOUN
dem-15805	26	8	is	be	AUX
dem-15805	26	9	carried	carry	VERB
dem-15805	26	10	out	out	ADP
dem-15805	26	11	using	use	VERB
dem-15805	26	12	daily	daily	ADJ
dem-15805	26	13	logarithmic	logarithmic	ADJ
dem-15805	26	14	rates	rate	NOUN
dem-15805	26	15	of	of	ADP
dem-15805	26	16	returns	return	NOUN
dem-15805	26	17	from	from	ADP
dem-15805	26	18	selected	select	VERB
dem-15805	26	19	financial	financial	ADJ
dem-15805	26	20	instruments	instrument	NOUN
dem-15805	26	21	:	:	PUNCT
dem-15805	26	22			PROPN
dem-15805	26	23	warsaw	warsaw	PROPN
dem-15805	26	24	stock	stock	PROPN
dem-15805	26	25	exchange	exchange	PROPN
dem-15805	26	26	index	index	NOUN
dem-15805	26	27	–	–	PUNCT
dem-15805	26	28	wig	wig	NOUN
dem-15805	26	29	,	,	PUNCT
dem-15805	26	30	representing	represent	VERB
dem-15805	26	31	equity	equity	NOUN
dem-15805	26	32	market	market	NOUN
dem-15805	26	33	,	,	PUNCT
dem-15805	26	34			PROPN
dem-15805	26	35	poland	poland	PROPN
dem-15805	26	36	’s	’s	PART
dem-15805	26	37	official	official	ADJ
dem-15805	26	38	treasury	treasury	PROPN
dem-15805	26	39	bonds	bond	NOUN
dem-15805	26	40	index	index	NOUN
dem-15805	26	41	–	–	PUNCT
dem-15805	26	42	tbsp.index	tbsp.index	NOUN
dem-15805	26	43	,	,	PUNCT
dem-15805	26	44	representing	represent	VERB
dem-15805	26	45	bond	bond	NOUN
dem-15805	26	46	market	market	NOUN
dem-15805	26	47	,	,	PUNCT
dem-15805	26	48			NOUN
dem-15805	26	49	participation	participation	NOUN
dem-15805	26	50	units	unit	NOUN
dem-15805	26	51	of	of	ADP
dem-15805	26	52	stable	stable	ADJ
dem-15805	26	53	growth	growth	NOUN
dem-15805	26	54	open	open	ADJ
dem-15805	26	55	mutual	mutual	ADJ
dem-15805	26	56	funds	fund	NOUN
dem-15805	26	57	(	(	PUNCT
dem-15805	26	58	fio	fio	NOUN
dem-15805	26	59	):	):	PUNCT
dem-15805	26	60	credit	credit	NOUN
dem-15805	26	61	agricole	agricole	NOUN
dem-15805	26	62	stabilnego	stabilnego	PROPN
dem-15805	26	63	wzrostu	wzrostu	PROPN
dem-15805	26	64	(	(	PUNCT
dem-15805	26	65	denoted	denote	VERB
dem-15805	26	66	as	as	ADP
dem-15805	26	67	ca	ca	NOUN
dem-15805	26	68	)	)	PUNCT
dem-15805	26	69	,	,	PUNCT
dem-15805	26	70	kbc	kbc	PROPN
dem-15805	26	71	fundusz	fundusz	PROPN
dem-15805	26	72	stabilny	stabilny	VERB
dem-15805	26	73	(	(	PUNCT
dem-15805	26	74	as	as	ADP
dem-15805	26	75	kbc	kbc	PROPN
dem-15805	26	76	)	)	PUNCT
dem-15805	26	77	,	,	PUNCT
dem-15805	26	78	nationale	nationale	ADJ
dem-15805	26	79	-	-	PUNCT
dem-15805	26	80	nederlanden	nederlanden	ADJ
dem-15805	26	81	stabilnego	stabilnego	ADV
dem-15805	26	82	wzrostu	wzrostu	INTJ
dem-15805	26	83	(	(	PUNCT
dem-15805	26	84	as	as	ADP
dem-15805	26	85	nn	nn	PROPN
dem-15805	26	86	)	)	PUNCT
dem-15805	26	87	,	,	PUNCT
dem-15805	26	88	pioneer	pioneer	NOUN
dem-15805	26	89	stabilnego	stabilnego	ADV
dem-15805	26	90	wzrostu	wzrostu	PROPN
dem-15805	26	91	(	(	PUNCT
dem-15805	26	92	as	as	ADP
dem-15805	26	93	pio	pio	PROPN
dem-15805	26	94	)	)	PUNCT
dem-15805	26	95	and	and	CCONJ
dem-15805	26	96	pzu	pzu	VERB
dem-15805	26	97	stabilnego	stabilnego	ADV
dem-15805	26	98	wzrostu	wzrostu	PROPN
dem-15805	26	99	mazurek	mazurek	NOUN
dem-15805	26	100	(	(	PUNCT
dem-15805	26	101	as	as	ADP
dem-15805	26	102	pzu	pzu	PROPN
dem-15805	26	103	)	)	PUNCT
dem-15805	26	104	.	.	PUNCT
dem-15805	27	1	the	the	DET
dem-15805	27	2	analysis	analysis	NOUN
dem-15805	27	3	is	be	AUX
dem-15805	27	4	provided	provide	VERB
dem-15805	27	5	for	for	ADP
dem-15805	27	6	the	the	DET
dem-15805	27	7	period	period	NOUN
dem-15805	27	8	from	from	ADP
dem-15805	27	9	10.10.2013	10.10.2013	NUM
dem-15805	27	10	to	to	ADP
dem-15805	27	11	9.12.2016	9.12.2016	NUM
dem-15805	27	12	(	(	PUNCT
dem-15805	27	13	the	the	DET
dem-15805	27	14	whole	whole	ADJ
dem-15805	27	15	period	period	NOUN
dem-15805	27	16	including	include	VERB
dem-15805	27	17	826	826	NUM
dem-15805	27	18	observations	observation	NOUN
dem-15805	27	19	)	)	PUNCT
dem-15805	27	20	.	.	PUNCT
dem-15805	28	1	this	this	DET
dem-15805	28	2	time	time	NOUN
dem-15805	28	3	span	span	NOUN
dem-15805	28	4	is	be	AUX
dem-15805	28	5	divided	divide	VERB
dem-15805	28	6	into	into	ADP
dem-15805	28	7	five	five	NUM
dem-15805	28	8	pairs	pair	NOUN
dem-15805	28	9	of	of	ADP
dem-15805	28	10	sub	sub	NOUN
dem-15805	28	11	-	-	ADJ
dem-15805	28	12	periods	period	NOUN
dem-15805	28	13	according	accord	VERB
dem-15805	28	14	to	to	ADP
dem-15805	28	15	the	the	DET
dem-15805	28	16	selected	select	VERB
dem-15805	28	17	events	event	NOUN
dem-15805	28	18	which	which	PRON
dem-15805	28	19	we	we	PRON
dem-15805	28	20	take	take	VERB
dem-15805	28	21	into	into	ADP
dem-15805	28	22	consideration	consideration	NOUN
dem-15805	28	23	:	:	PUNCT
dem-15805	28	24			VERB
dem-15805	28	25	the	the	DET
dem-15805	28	26	presidential	presidential	ADJ
dem-15805	28	27	elections	election	NOUN
dem-15805	28	28	:	:	PUNCT
dem-15805	28	29	the	the	DET
dem-15805	28	30	first	first	ADJ
dem-15805	28	31	round	round	NOUN
dem-15805	28	32	of	of	ADP
dem-15805	28	33	election	election	NOUN
dem-15805	28	34	–	–	PUNCT
dem-15805	28	35	10.05.2015	10.05.2015	NUM
dem-15805	28	36	,	,	PUNCT
dem-15805	28	37	the	the	DET
dem-15805	28	38	second	second	ADJ
dem-15805	28	39	round	round	NOUN
dem-15805	28	40	of	of	ADP
dem-15805	28	41	election	election	NOUN
dem-15805	28	42	–	–	PUNCT
dem-15805	28	43	24.05.2015	24.05.2015	NUM
dem-15805	28	44	,	,	PUNCT
dem-15805	28	45	how	how	SCONJ
dem-15805	28	46	the	the	DET
dem-15805	28	47	change	change	NOUN
dem-15805	28	48	of	of	ADP
dem-15805	28	49	governing	govern	VERB
dem-15805	28	50	party	party	NOUN
dem-15805	28	51	influences	influence	VERB
dem-15805	28	52	the	the	DET
dem-15805	28	53	efficiency	efficiency	NOUN
dem-15805	28	54	of	of	ADP
dem-15805	28	55	financial	financial	ADJ
dem-15805	28	56	market	market	NOUN
dem-15805	28	57	…	…	PUNCT
dem-15805	28	58	dynamic	dynamic	ADJ
dem-15805	28	59	econometric	econometric	ADJ
dem-15805	28	60	models	model	NOUN
dem-15805	28	61	17	17	NUM
dem-15805	28	62	(	(	PUNCT
dem-15805	28	63	2017	2017	NUM
dem-15805	28	64	)	)	PUNCT
dem-15805	28	65	147–159	147–159	NUM
dem-15805	28	66	149	149	NUM
dem-15805	28	67			NOUN
dem-15805	28	68	the	the	DET
dem-15805	28	69	parliamentary	parliamentary	ADJ
dem-15805	28	70	election	election	NOUN
dem-15805	28	71	–	–	PUNCT
dem-15805	28	72	25.10.2015	25.10.2015	NUM
dem-15805	28	73	,	,	PUNCT
dem-15805	28	74			VERB
dem-15805	28	75	the	the	DET
dem-15805	28	76	new	new	ADJ
dem-15805	28	77	government	government	NOUN
dem-15805	28	78	appointment	appointment	NOUN
dem-15805	28	79	–	–	PUNCT
dem-15805	28	80	16.11.2015	16.11.2015	NUM
dem-15805	28	81	,	,	PUNCT
dem-15805	28	82			VERB
dem-15805	28	83	the	the	DET
dem-15805	28	84	entry	entry	NOUN
dem-15805	28	85	into	into	ADP
dem-15805	28	86	force	force	NOUN
dem-15805	28	87	500	500	NUM
dem-15805	28	88	+	+	CCONJ
dem-15805	28	89	familly	familly	ADV
dem-15805	28	90	program	program	NOUN
dem-15805	28	91	–	–	PUNCT
dem-15805	28	92	1.04.2016	1.04.2016	NUM
dem-15805	28	93	.	.	PUNCT
dem-15805	29	1	the	the	DET
dem-15805	29	2	subperiods	subperiod	NOUN
dem-15805	29	3	are	be	AUX
dem-15805	29	4	defined	define	VERB
dem-15805	29	5	assuming	assume	VERB
dem-15805	29	6	that	that	SCONJ
dem-15805	29	7	the	the	DET
dem-15805	29	8	last	last	ADJ
dem-15805	29	9	observation	observation	NOUN
dem-15805	29	10	comes	come	VERB
dem-15805	29	11	from	from	ADP
dem-15805	29	12	9.12.2017	9.12.2017	NUM
dem-15805	29	13	,	,	PUNCT
dem-15805	29	14	and	and	CCONJ
dem-15805	29	15	sharing	sharing	NOUN
dem-15805	29	16	date	date	NOUN
dem-15805	29	17	is	be	AUX
dem-15805	29	18	a	a	DET
dem-15805	29	19	day	day	NOUN
dem-15805	29	20	when	when	SCONJ
dem-15805	29	21	the	the	DET
dem-15805	29	22	distinguished	distinguished	ADJ
dem-15805	29	23	event	event	NOUN
dem-15805	29	24	took	take	VERB
dem-15805	29	25	place	place	NOUN
dem-15805	29	26	.	.	PUNCT
dem-15805	30	1	it	it	PRON
dem-15805	30	2	was	be	AUX
dem-15805	30	3	our	our	PRON
dem-15805	30	4	concern	concern	NOUN
dem-15805	30	5	to	to	PART
dem-15805	30	6	obtain	obtain	VERB
dem-15805	30	7	subsamples	subsample	NOUN
dem-15805	30	8	with	with	ADP
dem-15805	30	9	similar	similar	ADJ
dem-15805	30	10	number	number	NOUN
dem-15805	30	11	of	of	ADP
dem-15805	30	12	observations	observation	NOUN
dem-15805	30	13	(	(	PUNCT
dem-15805	30	14	detailed	detailed	ADJ
dem-15805	30	15	information	information	NOUN
dem-15805	30	16	about	about	ADP
dem-15805	30	17	sample	sample	NOUN
dem-15805	30	18	sizes	size	NOUN
dem-15805	30	19	are	be	AUX
dem-15805	30	20	in	in	ADP
dem-15805	30	21	table	table	NOUN
dem-15805	30	22	2	2	NUM
dem-15805	30	23	)	)	PUNCT
dem-15805	30	24	.	.	PUNCT
dem-15805	31	1	investigation	investigation	NOUN
dem-15805	31	2	of	of	ADP
dem-15805	31	3	returns	return	NOUN
dem-15805	31	4	and	and	CCONJ
dem-15805	31	5	risk	risk	NOUN
dem-15805	31	6	generated	generate	VERB
dem-15805	31	7	by	by	ADP
dem-15805	31	8	the	the	DET
dem-15805	31	9	investment	investment	NOUN
dem-15805	31	10	portfolios	portfolio	NOUN
dem-15805	31	11	constructed	construct	VERB
dem-15805	31	12	by	by	ADP
dem-15805	31	13	selected	select	VERB
dem-15805	31	14	funds	fund	NOUN
dem-15805	31	15	is	be	AUX
dem-15805	31	16	conducted	conduct	VERB
dem-15805	31	17	in	in	ADP
dem-15805	31	18	several	several	ADJ
dem-15805	31	19	steps	step	NOUN
dem-15805	31	20	,	,	PUNCT
dem-15805	31	21	beginning	begin	VERB
dem-15805	31	22	from	from	ADP
dem-15805	31	23	the	the	DET
dem-15805	31	24	analysis	analysis	NOUN
dem-15805	31	25	of	of	ADP
dem-15805	31	26	the	the	DET
dem-15805	31	27	basic	basic	ADJ
dem-15805	31	28	parameters	parameter	NOUN
dem-15805	31	29	and	and	CCONJ
dem-15805	31	30	applying	apply	VERB
dem-15805	31	31	statistical	statistical	ADJ
dem-15805	31	32	interference	interference	NOUN
dem-15805	31	33	1	1	NUM
dem-15805	31	34	(	(	PUNCT
dem-15805	31	35	assuming	assume	VERB
dem-15805	31	36	the	the	DET
dem-15805	31	37	significance	significance	NOUN
dem-15805	31	38	level	level	NOUN
dem-15805	31	39	0.05	0.05	NUM
dem-15805	31	40	)	)	PUNCT
dem-15805	31	41	.	.	PUNCT
dem-15805	32	1	denoting	denote	VERB
dem-15805	32	2	by	by	ADP
dem-15805	32	3	:	:	PUNCT
dem-15805	32	4	e(r	e(r	NUM
dem-15805	32	5	)	)	PUNCT
dem-15805	32	6	–	–	PUNCT
dem-15805	32	7	expected	expect	VERB
dem-15805	32	8	returns	return	NOUN
dem-15805	32	9	,	,	PUNCT
dem-15805	32	10	d	d	NOUN
dem-15805	32	11	2	2	NUM
dem-15805	32	12	(	(	PUNCT
dem-15805	32	13	r	r	NOUN
dem-15805	32	14	)	)	PUNCT
dem-15805	32	15	–	–	PUNCT
dem-15805	32	16	variance	variance	NOUN
dem-15805	32	17	of	of	ADP
dem-15805	32	18	returns	return	NOUN
dem-15805	32	19	,	,	PUNCT
dem-15805	32	20	rwig	rwig	PROPN
dem-15805	32	21	,	,	PUNCT
dem-15805	32	22	rtbsp	rtbsp	NOUN
dem-15805	32	23	,	,	PUNCT
dem-15805	32	24	rfio	rfio	NOUN
dem-15805	32	25	–	–	PUNCT
dem-15805	32	26	returns	return	NOUN
dem-15805	32	27	from	from	ADP
dem-15805	32	28	wig	wig	NOUN
dem-15805	32	29	,	,	PUNCT
dem-15805	32	30	tbsp	tbsp	NOUN
dem-15805	32	31	and	and	CCONJ
dem-15805	32	32	fio	fio	NOUN
dem-15805	32	33	respectively	respectively	ADV
dem-15805	32	34	,	,	PUNCT
dem-15805	32	35			PROPN
dem-15805	32	36	,	,	PUNCT
dem-15805	32	37			X
dem-15805	32	38	–	–	PUNCT
dem-15805	32	39	parameters	parameter	NOUN
dem-15805	32	40	of	of	ADP
dem-15805	32	41	sharpe	sharpe	PROPN
dem-15805	32	42	model	model	NOUN
dem-15805	32	43	or	or	CCONJ
dem-15805	32	44	capm	capm	PROPN
dem-15805	32	45	,	,	PUNCT
dem-15805	32	46	rbefore	rbefore	NOUN
dem-15805	32	47	,	,	PUNCT
dem-15805	32	48	rafter	rafter	NOUN
dem-15805	32	49	,	,	PUNCT
dem-15805	32	50	before	before	ADJ
dem-15805	32	51	,	,	PUNCT
dem-15805	32	52	after	after	VERB
dem-15805	32	53	–	–	PUNCT
dem-15805	32	54	returns	return	NOUN
dem-15805	32	55	from	from	ADP
dem-15805	32	56	the	the	DET
dem-15805	32	57	portfolio	portfolio	NOUN
dem-15805	32	58	and	and	CCONJ
dem-15805	32	59	beta	beta	ADJ
dem-15805	32	60	coefficients	coefficient	NOUN
dem-15805	32	61	before	before	ADV
dem-15805	32	62	and	and	CCONJ
dem-15805	32	63	after	after	ADP
dem-15805	32	64	the	the	DET
dem-15805	32	65	considered	considered	ADJ
dem-15805	32	66	event	event	NOUN
dem-15805	32	67	,	,	PUNCT
dem-15805	32	68	respectively	respectively	ADV
dem-15805	32	69	,	,	PUNCT
dem-15805	32	70	we	we	PRON
dem-15805	32	71	verify	verify	VERB
dem-15805	32	72	the	the	DET
dem-15805	32	73	null	null	ADJ
dem-15805	32	74	hypotheses	hypothesis	NOUN
dem-15805	32	75	concerning	concern	VERB
dem-15805	32	76	:	:	PUNCT
dem-15805	33	1	1	1	X
dem-15805	33	2	.	.	X
dem-15805	33	3	rates	rate	NOUN
dem-15805	33	4	of	of	ADP
dem-15805	33	5	return	return	NOUN
dem-15805	33	6	levels	level	NOUN
dem-15805	33	7	,	,	PUNCT
dem-15805	33	8	i.e.	i.e.	X
dem-15805	33	9	:	:	PUNCT
dem-15805	33	10	e(rfio	e(rfio	X
dem-15805	33	11	)	)	PUNCT
dem-15805	33	12	=	=	SYM
dem-15805	33	13	0	0	NUM
dem-15805	33	14	;	;	PUNCT
dem-15805	33	15	e(rwig	e(rwig	X
dem-15805	33	16	)	)	PUNCT
dem-15805	33	17	=	=	SYM
dem-15805	33	18	0	0	NUM
dem-15805	33	19	;	;	PUNCT
dem-15805	33	20	e(rtbsp	e(rtbsp	NOUN
dem-15805	33	21	)	)	PUNCT
dem-15805	33	22	=	=	SYM
dem-15805	33	23	0	0	NUM
dem-15805	33	24	,	,	PUNCT
dem-15805	33	25	2	2	NUM
dem-15805	33	26	.	.	PUNCT
dem-15805	33	27	parameters	parameter	NOUN
dem-15805	33	28	of	of	ADP
dem-15805	33	29	sharpe	sharpe	PROPN
dem-15805	33	30	and	and	CCONJ
dem-15805	33	31	capm	capm	PROPN
dem-15805	33	32	models	model	NOUN
dem-15805	33	33	,	,	PUNCT
dem-15805	33	34	i.e.	i.e.	X
dem-15805	33	35	:	:	PUNCT
dem-15805	33	36			NOUN
dem-15805	33	37	=	=	SYM
dem-15805	33	38	0	0	NUM
dem-15805	33	39	;	;	PUNCT
dem-15805	33	40			X
dem-15805	33	41	=	=	SYM
dem-15805	33	42	0	0	NUM
dem-15805	33	43	,	,	PUNCT
dem-15805	33	44	3	3	NUM
dem-15805	33	45	.	.	PUNCT
dem-15805	33	46	comparisons	comparison	NOUN
dem-15805	33	47	of	of	ADP
dem-15805	33	48	parameters	parameter	NOUN
dem-15805	33	49	values	value	NOUN
dem-15805	33	50	in	in	ADP
dem-15805	33	51	two	two	NUM
dem-15805	33	52	considered	consider	VERB
dem-15805	33	53	sub	sub	NOUN
dem-15805	33	54	-	-	NOUN
dem-15805	33	55	periods	period	NOUN
dem-15805	33	56	i.e.	i.e.	X
dem-15805	33	57	:	:	PUNCT
dem-15805	33	58	e(rbefore	e(rbefore	ADJ
dem-15805	33	59	)	)	PUNCT
dem-15805	33	60	=	=	SYM
dem-15805	33	61	e(rafter	e(rafter	X
dem-15805	33	62	)	)	PUNCT
dem-15805	33	63	,	,	PUNCT
dem-15805	33	64	d	d	PROPN
dem-15805	33	65	2	2	NUM
dem-15805	33	66	(	(	PUNCT
dem-15805	33	67	rbefore	rbefore	NOUN
dem-15805	33	68	)	)	PUNCT
dem-15805	33	69	=	=	PUNCT
dem-15805	34	1	d	d	ADP
dem-15805	34	2	2	2	NUM
dem-15805	34	3	(	(	PUNCT
dem-15805	34	4	rafter	rafter	NOUN
dem-15805	34	5	)	)	PUNCT
dem-15805	34	6	,	,	PUNCT
dem-15805	34	7	before	before	ADJ
dem-15805	34	8	=	=	SYM
dem-15805	34	9	after	after	NOUN
dem-15805	34	10	,	,	PUNCT
dem-15805	34	11	before	before	PRON
dem-15805	34	12	=	=	SYM
dem-15805	34	13	after	after	X
dem-15805	34	14	.	.	PUNCT
dem-15805	35	1	we	we	PRON
dem-15805	35	2	apply	apply	VERB
dem-15805	35	3	the	the	DET
dem-15805	35	4	classical	classical	ADJ
dem-15805	35	5	tests	test	NOUN
dem-15805	35	6	for	for	ADP
dem-15805	35	7	verification	verification	NOUN
dem-15805	35	8	hypothesis	hypothesis	NOUN
dem-15805	35	9	of	of	ADP
dem-15805	35	10	returns	return	NOUN
dem-15805	35	11	equity	equity	NOUN
dem-15805	35	12	:	:	PUNCT
dem-15805	35	13			NOUN
dem-15805	35	14	using	use	VERB
dem-15805	35	15	the	the	DET
dem-15805	35	16	cochran	cochran	NOUN
dem-15805	35	17	-	-	PUNCT
dem-15805	35	18	cox	cox	PROPN
dem-15805	35	19	test	test	NOUN
dem-15805	35	20	statistics	statistic	NOUN
dem-15805	35	21	:	:	PUNCT
dem-15805	35	22	(	(	PUNCT
dem-15805	35	23	1	1	X
dem-15805	35	24	)	)	PUNCT
dem-15805	35	25			NOUN
dem-15805	35	26	and	and	CCONJ
dem-15805	35	27	using	use	VERB
dem-15805	35	28	the	the	DET
dem-15805	35	29	following	follow	VERB
dem-15805	35	30	statistics	statistic	NOUN
dem-15805	35	31	:	:	PUNCT
dem-15805	35	32	(	(	PUNCT
dem-15805	35	33	2	2	X
dem-15805	35	34	)	)	PUNCT
dem-15805	35	35	where	where	SCONJ
dem-15805	35	36	for	for	ADP
dem-15805	35	37	the	the	DET
dem-15805	35	38	k	k	NOUN
dem-15805	35	39	-	-	PUNCT
dem-15805	35	40	th	th	VERB
dem-15805	35	41	period	period	NOUN
dem-15805	35	42	,	,	PUNCT
dem-15805	35	43	–	–	PUNCT
dem-15805	35	44	average	average	ADJ
dem-15805	35	45	logarithmic	logarithmic	ADJ
dem-15805	35	46	rate	rate	NOUN
dem-15805	35	47	of	of	ADP
dem-15805	35	48	return	return	NOUN
dem-15805	35	49	from	from	ADP
dem-15805	35	50	the	the	DET
dem-15805	35	51	selected	select	VERB
dem-15805	35	52	instrument	instrument	NOUN
dem-15805	35	53	,	,	PUNCT
dem-15805	35	54	–	–	PUNCT
dem-15805	35	55	variance	variance	NOUN
dem-15805	35	56	of	of	ADP
dem-15805	35	57	return	return	NOUN
dem-15805	35	58	,	,	PUNCT
dem-15805	35	59	–	–	PUNCT
dem-15805	35	60	number	number	NOUN
dem-15805	35	61	of	of	ADP
dem-15805	35	62	observations	observation	NOUN
dem-15805	35	63	,	,	PUNCT
dem-15805	35	64	b	b	X
dem-15805	35	65	–	–	PUNCT
dem-15805	35	66	benchmark	benchmark	NOUN
dem-15805	35	67	:	:	PUNCT
dem-15805	35	68	b=0	b=0	PROPN
dem-15805	35	69	,	,	PUNCT
dem-15805	35	70	b	b	X
dem-15805	35	71	=	=	X
dem-15805	35	72	r1	r1	PROPN
dem-15805	35	73	or	or	CCONJ
dem-15805	35	74	b	b	NOUN
dem-15805	35	75	=	=	NOUN
dem-15805	35	76	r2	r2	NOUN
dem-15805	35	77	.	.	PUNCT
dem-15805	36	1	the	the	DET
dem-15805	36	2	comparison	comparison	NOUN
dem-15805	36	3	of	of	ADP
dem-15805	36	4	returns	return	NOUN
dem-15805	36	5	in	in	ADP
dem-15805	36	6	both	both	DET
dem-15805	36	7	period	period	NOUN
dem-15805	36	8	is	be	AUX
dem-15805	36	9	provided	provide	VERB
dem-15805	36	10	using	use	VERB
dem-15805	36	11	statistics	statistic	NOUN
dem-15805	36	12	(	(	PUNCT
dem-15805	36	13	1	1	NUM
dem-15805	36	14	)	)	PUNCT
dem-15805	36	15	and	and	CCONJ
dem-15805	36	16	(	(	PUNCT
dem-15805	36	17	2	2	NUM
dem-15805	36	18	)	)	PUNCT
dem-15805	36	19	.	.	PUNCT
dem-15805	37	1	in	in	ADP
dem-15805	37	2	the	the	DET
dem-15805	37	3	letter	letter	NOUN
dem-15805	37	4	case	case	NOUN
dem-15805	37	5	benchmark	benchmark	PROPN
dem-15805	37	6	b	b	PROPN
dem-15805	37	7	is	be	AUX
dem-15805	37	8	defined	define	VERB
dem-15805	37	9	as	as	ADP
dem-15805	37	10	an	an	DET
dem-15805	37	11	average	average	ADJ
dem-15805	37	12	value	value	NOUN
dem-15805	37	13	of	of	ADP
dem-15805	37	14	returns	return	NOUN
dem-15805	37	15	obtained	obtain	VERB
dem-15805	37	16	in	in	ADP
dem-15805	37	17	the	the	DET
dem-15805	37	18	second	second	ADJ
dem-15805	37	19	considered	consider	VERB
dem-15805	37	20	period	period	NOUN
dem-15805	37	21	(	(	PUNCT
dem-15805	37	22	k=1	k=1	NOUN
dem-15805	37	23	,	,	PUNCT
dem-15805	37	24	2	2	NUM
dem-15805	37	25	)	)	PUNCT
dem-15805	37	26	and	and	CCONJ
dem-15805	37	27	the	the	DET
dem-15805	37	28	test	test	NOUN
dem-15805	37	29	is	be	AUX
dem-15805	37	30	provided	provide	VERB
dem-15805	37	31	as	as	ADP
dem-15805	37	32	two	two	NUM
dem-15805	37	33	-	-	PUNCT
dem-15805	37	34	way	way	NOUN
dem-15805	37	35	test	test	NOUN
dem-15805	37	36	.	.	PUNCT
dem-15805	38	1	comparison	comparison	NOUN
dem-15805	38	2	of	of	ADP
dem-15805	38	3	variances	variance	NOUN
dem-15805	38	4	is	be	AUX
dem-15805	38	5	provided	provide	VERB
dem-15805	38	6	using	use	VERB
dem-15805	38	7	the	the	DET
dem-15805	38	8	test	test	NOUN
dem-15805	38	9	with	with	ADP
dem-15805	38	10	fisher	fisher	PROPN
dem-15805	38	11	statistics	statistic	NOUN
dem-15805	38	12	:	:	PUNCT
dem-15805	38	13	(	(	PUNCT
dem-15805	38	14	3	3	X
dem-15805	38	15	)	)	PUNCT
dem-15805	38	16	1	1	NUM
dem-15805	38	17	all	all	DET
dem-15805	38	18	formulas	formula	NOUN
dem-15805	38	19	(	(	PUNCT
dem-15805	38	20	1)-(5	1)-(5	NUM
dem-15805	38	21	)	)	PUNCT
dem-15805	38	22	are	be	AUX
dem-15805	38	23	discussed	discuss	VERB
dem-15805	38	24	in	in	ADP
dem-15805	38	25	(	(	PUNCT
dem-15805	38	26	witkowska	witkowska	NOUN
dem-15805	38	27	2016	2016	NUM
dem-15805	38	28	,	,	PUNCT
dem-15805	38	29	p.	p.	NOUN
dem-15805	38	30	29	29	NUM
dem-15805	38	31	-	-	SYM
dem-15805	38	32	55	55	NUM
dem-15805	38	33	)	)	PUNCT
dem-15805	38	34	.	.	PUNCT
dem-15805	39	1	dorota	dorota	PROPN
dem-15805	39	2	witkowska	witkowska	PROPN
dem-15805	39	3	,	,	PUNCT
dem-15805	39	4	krzysztof	krzysztof	PROPN
dem-15805	39	5	kompa	kompa	VERB
dem-15805	39	6	dynamic	dynamic	ADJ
dem-15805	39	7	econometric	econometric	ADJ
dem-15805	39	8	models	model	NOUN
dem-15805	39	9	17	17	NUM
dem-15805	39	10	(	(	PUNCT
dem-15805	39	11	2017	2017	NUM
dem-15805	39	12	)	)	PUNCT
dem-15805	39	13	147–159	147–159	NUM
dem-15805	39	14	150	150	NUM
dem-15805	39	15	where	where	SCONJ
dem-15805	39	16	,	,	PUNCT
dem-15805	39	17	–	–	PUNCT
dem-15805	39	18	maximal	maximal	ADJ
dem-15805	39	19	and	and	CCONJ
dem-15805	39	20	minimal	minimal	ADJ
dem-15805	39	21	variance	variance	NOUN
dem-15805	39	22	obtained	obtain	VERB
dem-15805	39	23	for	for	ADP
dem-15805	39	24	the	the	DET
dem-15805	39	25	both	both	PRON
dem-15805	39	26	compared	compare	VERB
dem-15805	39	27	samples	sample	NOUN
dem-15805	39	28	.	.	PUNCT
dem-15805	40	1	the	the	DET
dem-15805	40	2	shape	shape	NOUN
dem-15805	40	3	of	of	ADP
dem-15805	40	4	the	the	DET
dem-15805	40	5	probability	probability	NOUN
dem-15805	40	6	distribution	distribution	NOUN
dem-15805	40	7	of	of	ADP
dem-15805	40	8	logarithmic	logarithmic	ADJ
dem-15805	40	9	rates	rate	NOUN
dem-15805	40	10	of	of	ADP
dem-15805	40	11	return	return	NOUN
dem-15805	40	12	is	be	AUX
dem-15805	40	13	examined	examine	VERB
dem-15805	40	14	on	on	ADP
dem-15805	40	15	the	the	DET
dem-15805	40	16	basis	basis	NOUN
dem-15805	40	17	of	of	ADP
dem-15805	40	18	parametric	parametric	ADJ
dem-15805	40	19	tests	test	NOUN
dem-15805	40	20	verifying	verify	VERB
dem-15805	40	21	hypothesis	hypothesis	NOUN
dem-15805	40	22	that	that	PRON
dem-15805	40	23	symmetry	symmetry	NOUN
dem-15805	40	24	and	and	CCONJ
dem-15805	40	25	kurtosis	kurtosis	VERB
dem-15805	40	26	equal	equal	ADJ
dem-15805	40	27	to	to	ADP
dem-15805	40	28	zero	zero	NUM
dem-15805	40	29	,	,	PUNCT
dem-15805	40	30	applying	apply	VERB
dem-15805	40	31	the	the	DET
dem-15805	40	32	following	follow	VERB
dem-15805	40	33	statistics	statistic	NOUN
dem-15805	40	34	:	:	PUNCT
dem-15805	40	35	(	(	PUNCT
dem-15805	40	36	4	4	X
dem-15805	40	37	)	)	PUNCT
dem-15805	40	38	(	(	PUNCT
dem-15805	40	39	5	5	NUM
dem-15805	40	40	)	)	PUNCT
dem-15805	40	41	where	where	SCONJ
dem-15805	40	42	,	,	PUNCT
dem-15805	40	43	at	at	ADP
dem-15805	40	44	,	,	PUNCT
dem-15805	40	45	kt	kt	PROPN
dem-15805	40	46	–	–	PUNCT
dem-15805	40	47	the	the	DET
dem-15805	40	48	third	third	ADJ
dem-15805	40	49	and	and	CCONJ
dem-15805	40	50	the	the	DET
dem-15805	40	51	fourth	fourth	ADJ
dem-15805	40	52	central	central	ADJ
dem-15805	40	53	statistical	statistical	ADJ
dem-15805	40	54	moments	moment	NOUN
dem-15805	40	55	of	of	ADP
dem-15805	40	56	logarithmic	logarithmic	ADJ
dem-15805	40	57	rates	rate	NOUN
dem-15805	40	58	of	of	ADP
dem-15805	40	59	returns	return	NOUN
dem-15805	40	60	.	.	PUNCT
dem-15805	41	1	the	the	DET
dem-15805	41	2	next	next	ADJ
dem-15805	41	3	step	step	NOUN
dem-15805	41	4	of	of	ADP
dem-15805	41	5	our	our	PRON
dem-15805	41	6	research	research	NOUN
dem-15805	41	7	is	be	AUX
dem-15805	41	8	estimation	estimation	NOUN
dem-15805	41	9	of	of	ADP
dem-15805	41	10	sharpe	sharpe	PROPN
dem-15805	41	11	and	and	CCONJ
dem-15805	41	12	capital	capital	NOUN
dem-15805	41	13	assets	asset	NOUN
dem-15805	41	14	pricing	pricing	NOUN
dem-15805	41	15	models	model	NOUN
dem-15805	41	16	on	on	ADP
dem-15805	41	17	the	the	DET
dem-15805	41	18	basis	basis	NOUN
dem-15805	41	19	of	of	ADP
dem-15805	41	20	daily	daily	ADJ
dem-15805	41	21	logarithmic	logarithmic	ADJ
dem-15805	41	22	rates	rate	NOUN
dem-15805	41	23	of	of	ADP
dem-15805	41	24	return	return	NOUN
dem-15805	41	25	2	2	NUM
dem-15805	41	26	:	:	PUNCT
dem-15805	41	27	(	(	PUNCT
dem-15805	41	28	6	6	NUM
dem-15805	41	29	)	)	PUNCT
dem-15805	41	30	(	(	PUNCT
dem-15805	41	31	7	7	X
dem-15805	41	32	)	)	PUNCT
dem-15805	41	33	where	where	SCONJ
dem-15805	41	34	for	for	ADP
dem-15805	41	35	the	the	DET
dem-15805	41	36	t	t	PROPN
dem-15805	41	37	-	-	PUNCT
dem-15805	41	38	th	th	NUM
dem-15805	41	39	period	period	NOUN
dem-15805	41	40	,	,	PUNCT
dem-15805	41	41	rit	rit	NOUN
dem-15805	41	42	–	–	PUNCT
dem-15805	41	43	rate	rate	NOUN
dem-15805	41	44	of	of	ADP
dem-15805	41	45	return	return	NOUN
dem-15805	41	46	from	from	ADP
dem-15805	41	47	participation	participation	NOUN
dem-15805	41	48	units	unit	NOUN
dem-15805	41	49	of	of	ADP
dem-15805	41	50	the	the	DET
dem-15805	41	51	i	i	PROPN
dem-15805	41	52	-	-	PUNCT
dem-15805	41	53	th	th	X
dem-15805	41	54	stable	stable	ADJ
dem-15805	41	55	growth	growth	NOUN
dem-15805	41	56	open	open	ADJ
dem-15805	41	57	mutual	mutual	ADJ
dem-15805	41	58	fund	fund	NOUN
dem-15805	41	59	;	;	PUNCT
dem-15805	41	60	rrt	rrt	NOUN
dem-15805	41	61	–	–	PUNCT
dem-15805	41	62	rate	rate	NOUN
dem-15805	41	63	of	of	ADP
dem-15805	41	64	return	return	NOUN
dem-15805	41	65	from	from	ADP
dem-15805	41	66	the	the	DET
dem-15805	41	67	market	market	NOUN
dem-15805	41	68	index	index	NOUN
dem-15805	41	69	(	(	PUNCT
dem-15805	41	70	wig	wig	NOUN
dem-15805	41	71	)	)	PUNCT
dem-15805	41	72	;	;	PUNCT
dem-15805	41	73	rrt	rrt	NOUN
dem-15805	41	74	–	–	PUNCT
dem-15805	41	75	rate	rate	NOUN
dem-15805	41	76	of	of	ADP
dem-15805	41	77	return	return	NOUN
dem-15805	41	78	from	from	ADP
dem-15805	41	79	the	the	DET
dem-15805	41	80	risk	risk	NOUN
dem-15805	41	81	-	-	PUNCT
dem-15805	41	82	free	free	ADJ
dem-15805	41	83	instrument	instrument	NOUN
dem-15805	41	84	(	(	PUNCT
dem-15805	41	85	tbsp	tbsp	NOUN
dem-15805	41	86	)	)	PUNCT
dem-15805	41	87	;	;	PUNCT
dem-15805	41	88	i	i	PROPN
dem-15805	41	89	,	,	PUNCT
dem-15805	41	90	i	i	NOUN
dem-15805	41	91	–	–	PUNCT
dem-15805	41	92	model	model	NOUN
dem-15805	41	93	parameters	parameter	NOUN
dem-15805	41	94	,	,	PUNCT
dem-15805	41	95	it	it	NUM
dem-15805	41	96	–	–	PUNCT
dem-15805	41	97	random	random	ADJ
dem-15805	41	98	component	component	NOUN
dem-15805	41	99	;	;	PUNCT
dem-15805	41	100	t	t	X
dem-15805	41	101	–	–	PUNCT
dem-15805	41	102	number	number	NOUN
dem-15805	41	103	of	of	ADP
dem-15805	41	104	observation	observation	NOUN
dem-15805	41	105	(	(	PUNCT
dem-15805	41	106	t=1	t=1	PROPN
dem-15805	41	107	,	,	PUNCT
dem-15805	41	108	2	2	NUM
dem-15805	41	109	,	,	PUNCT
dem-15805	41	110	…	…	NUM
dem-15805	41	111	,	,	PUNCT
dem-15805	41	112	t	t	PROPN
dem-15805	41	113	)	)	PUNCT
dem-15805	41	114	.	.	PUNCT
dem-15805	42	1	parameters	parameter	NOUN
dem-15805	42	2	of	of	ADP
dem-15805	42	3	both	both	DET
dem-15805	42	4	models	model	NOUN
dem-15805	42	5	are	be	AUX
dem-15805	42	6	estimated	estimate	VERB
dem-15805	42	7	using	use	VERB
dem-15805	42	8	ols	ol	NOUN
dem-15805	42	9	method	method	NOUN
dem-15805	42	10	.	.	PUNCT
dem-15805	43	1	analysis	analysis	NOUN
dem-15805	43	2	of	of	ADP
dem-15805	43	3	parameter	parameter	NOUN
dem-15805	43	4	significance	significance	NOUN
dem-15805	43	5	in	in	ADP
dem-15805	43	6	the	the	DET
dem-15805	43	7	models	model	NOUN
dem-15805	43	8	is	be	AUX
dem-15805	43	9	provided	provide	VERB
dem-15805	43	10	using	use	VERB
dem-15805	43	11	the	the	DET
dem-15805	43	12	test	test	NOUN
dem-15805	43	13	statistics	statistic	NOUN
dem-15805	43	14	3	3	NUM
dem-15805	43	15	:	:	PUNCT
dem-15805	43	16	and	and	CCONJ
dem-15805	43	17	(	(	PUNCT
dem-15805	43	18	8)	8)	NUM
dem-15805	43	19	where	where	SCONJ
dem-15805	43	20	,	,	PUNCT
dem-15805	43	21	–	–	PUNCT
dem-15805	43	22	parameter	parameter	NOUN
dem-15805	43	23	estimates	estimate	NOUN
dem-15805	43	24	,	,	PUNCT
dem-15805	43	25	–	–	PUNCT
dem-15805	43	26	standard	standard	ADJ
dem-15805	43	27	estimation	estimation	NOUN
dem-15805	43	28	errors	error	NOUN
dem-15805	43	29	from	from	ADP
dem-15805	43	30	the	the	DET
dem-15805	43	31	models	model	NOUN
dem-15805	43	32	(	(	PUNCT
dem-15805	43	33	6	6	NUM
dem-15805	43	34	)	)	PUNCT
dem-15805	43	35	and	and	CCONJ
dem-15805	43	36	(	(	PUNCT
dem-15805	43	37	7	7	NUM
dem-15805	43	38	)	)	PUNCT
dem-15805	43	39	.	.	PUNCT
dem-15805	44	1	comparison	comparison	NOUN
dem-15805	44	2	of	of	ADP
dem-15805	44	3	parameters	parameter	NOUN
dem-15805	44	4	obtained	obtain	VERB
dem-15805	44	5	in	in	ADP
dem-15805	44	6	both	both	CCONJ
dem-15805	44	7	comparable	comparable	ADJ
dem-15805	44	8	periods	period	NOUN
dem-15805	44	9	is	be	AUX
dem-15805	44	10	made	make	VERB
dem-15805	44	11	applying	apply	VERB
dem-15805	44	12	the	the	DET
dem-15805	44	13	test	test	NOUN
dem-15805	44	14	statistics	statistic	NOUN
dem-15805	44	15	:	:	PUNCT
dem-15805	44	16	and	and	CCONJ
dem-15805	44	17	(	(	PUNCT
dem-15805	44	18	9a	9a	NOUN
dem-15805	44	19	)	)	PUNCT
dem-15805	44	20	and	and	CCONJ
dem-15805	44	21	(	(	PUNCT
dem-15805	44	22	9b	9b	NUM
dem-15805	44	23	)	)	PUNCT
dem-15805	44	24	2	2	NUM
dem-15805	44	25	models	model	NOUN
dem-15805	44	26	are	be	AUX
dem-15805	44	27	widely	widely	ADV
dem-15805	44	28	discussed	discuss	VERB
dem-15805	44	29	in	in	ADP
dem-15805	44	30	literature	literature	NOUN
dem-15805	44	31	see	see	VERB
dem-15805	44	32	for	for	ADP
dem-15805	44	33	instance	instance	NOUN
dem-15805	44	34	:	:	PUNCT
dem-15805	44	35	(	(	PUNCT
dem-15805	44	36	zamojska	zamojska	PROPN
dem-15805	44	37	2012	2012	NUM
dem-15805	44	38	,	,	PUNCT
dem-15805	44	39	p.	p.	NOUN
dem-15805	44	40	57	57	NUM
dem-15805	44	41	-	-	SYM
dem-15805	44	42	60	60	NUM
dem-15805	44	43	)	)	PUNCT
dem-15805	44	44	,	,	PUNCT
dem-15805	44	45	(	(	PUNCT
dem-15805	44	46	witkowska	witkowska	NOUN
dem-15805	44	47	2016	2016	NUM
dem-15805	44	48	,	,	PUNCT
dem-15805	44	49	p.	p.	NOUN
dem-15805	44	50	41	41	NUM
dem-15805	44	51	-	-	SYM
dem-15805	44	52	48	48	NUM
dem-15805	44	53	)	)	PUNCT
dem-15805	44	54	3	3	NUM
dem-15805	44	55	these	these	DET
dem-15805	44	56	measures	measure	NOUN
dem-15805	44	57	are	be	AUX
dem-15805	44	58	discussed	discuss	VERB
dem-15805	44	59	in	in	ADP
dem-15805	44	60	(	(	PUNCT
dem-15805	44	61	witkowska	witkowska	NOUN
dem-15805	44	62	2016	2016	NUM
dem-15805	44	63	,	,	PUNCT
dem-15805	44	64	p.	p.	NOUN
dem-15805	44	65	49	49	NUM
dem-15805	44	66	-	-	SYM
dem-15805	44	67	50	50	NUM
dem-15805	44	68	)	)	PUNCT
dem-15805	44	69	.	.	PUNCT
dem-15805	45	1	how	how	SCONJ
dem-15805	45	2	the	the	DET
dem-15805	45	3	change	change	NOUN
dem-15805	45	4	of	of	ADP
dem-15805	45	5	governing	govern	VERB
dem-15805	45	6	party	party	NOUN
dem-15805	45	7	influences	influence	VERB
dem-15805	45	8	the	the	DET
dem-15805	45	9	efficiency	efficiency	NOUN
dem-15805	45	10	of	of	ADP
dem-15805	45	11	financial	financial	ADJ
dem-15805	45	12	market	market	NOUN
dem-15805	45	13	…	…	PUNCT
dem-15805	45	14	dynamic	dynamic	ADJ
dem-15805	45	15	econometric	econometric	ADJ
dem-15805	45	16	models	model	NOUN
dem-15805	45	17	17	17	NUM
dem-15805	45	18	(	(	PUNCT
dem-15805	45	19	2017	2017	NUM
dem-15805	45	20	)	)	PUNCT
dem-15805	45	21	147–159	147–159	NUM
dem-15805	45	22	151	151	NUM
dem-15805	45	23	the	the	DET
dem-15805	45	24	performance	performance	NOUN
dem-15805	45	25	of	of	ADP
dem-15805	45	26	mutual	mutual	ADJ
dem-15805	45	27	funds	fund	NOUN
dem-15805	45	28	is	be	AUX
dem-15805	45	29	provided	provide	VERB
dem-15805	45	30	using	use	VERB
dem-15805	45	31	classical	classical	ADJ
dem-15805	45	32	measures	measure	NOUN
dem-15805	45	33	i.e.	i.e.	X
dem-15805	45	34	sharpe	sharpe	NOUN
dem-15805	45	35	,	,	PUNCT
dem-15805	45	36	treynor	treynor	NOUN
dem-15805	45	37	and	and	CCONJ
dem-15805	45	38	jensen	jensen	PROPN
dem-15805	45	39	ratios	ratios	PROPN
dem-15805	45	40	4	4	NUM
dem-15805	45	41	.	.	PUNCT
dem-15805	46	1	the	the	DET
dem-15805	46	2	first	first	ADJ
dem-15805	46	3	two	two	NUM
dem-15805	46	4	measures	measure	NOUN
dem-15805	46	5	estimate	estimate	VERB
dem-15805	46	6	the	the	DET
dem-15805	46	7	obtained	obtain	VERB
dem-15805	46	8	risk	risk	NOUN
dem-15805	46	9	premium	premium	NOUN
dem-15805	46	10	evaluated	evaluate	VERB
dem-15805	46	11	for	for	ADP
dem-15805	46	12	the	the	DET
dem-15805	46	13	unit	unit	NOUN
dem-15805	46	14	of	of	ADP
dem-15805	46	15	risk	risk	NOUN
dem-15805	46	16	and	and	CCONJ
dem-15805	46	17	the	the	DET
dem-15805	46	18	decision	decision	NOUN
dem-15805	46	19	about	about	ADP
dem-15805	46	20	the	the	DET
dem-15805	46	21	efficiency	efficiency	NOUN
dem-15805	46	22	is	be	AUX
dem-15805	46	23	made	make	VERB
dem-15805	46	24	by	by	ADP
dem-15805	46	25	comparing	compare	VERB
dem-15805	46	26	the	the	DET
dem-15805	46	27	values	value	NOUN
dem-15805	46	28	of	of	ADP
dem-15805	46	29	the	the	DET
dem-15805	46	30	ratios	ratio	NOUN
dem-15805	46	31	obtained	obtain	VERB
dem-15805	46	32	by	by	ADP
dem-15805	46	33	the	the	DET
dem-15805	46	34	mutual	mutual	ADJ
dem-15805	46	35	fund	fund	NOUN
dem-15805	46	36	and	and	CCONJ
dem-15805	46	37	the	the	DET
dem-15805	46	38	market	market	NOUN
dem-15805	46	39	index	index	NOUN
dem-15805	46	40	.	.	PUNCT
dem-15805	47	1	jensen	jensen	PROPN
dem-15805	47	2	ratio	ratio	PROPN
dem-15805	47	3	is	be	AUX
dem-15805	47	4	the	the	DET
dem-15805	47	5	parameter	parameter	NOUN
dem-15805	47	6	estimate	estimate	NOUN
dem-15805	47	7	from	from	ADP
dem-15805	47	8	capm	capm	PROPN
dem-15805	47	9	,	,	PUNCT
dem-15805	47	10	and	and	CCONJ
dem-15805	47	11	investment	investment	NOUN
dem-15805	47	12	is	be	AUX
dem-15805	47	13	efficient	efficient	ADJ
dem-15805	47	14	if	if	SCONJ
dem-15805	47	15	is	be	AUX
dem-15805	47	16	positive	positive	ADJ
dem-15805	47	17	.	.	PUNCT
dem-15805	48	1	the	the	DET
dem-15805	48	2	comparison	comparison	NOUN
dem-15805	48	3	of	of	ADP
dem-15805	48	4	the	the	DET
dem-15805	48	5	funds	fund	NOUN
dem-15805	48	6	’	'	PUNCT
dem-15805	48	7	efficiency	efficiency	NOUN
dem-15805	48	8	is	be	AUX
dem-15805	48	9	provided	provide	VERB
dem-15805	48	10	applying	apply	VERB
dem-15805	48	11	measures	measure	NOUN
dem-15805	48	12	mentioned	mention	VERB
dem-15805	48	13	above	above	ADP
dem-15805	48	14	which	which	PRON
dem-15805	48	15	are	be	AUX
dem-15805	48	16	evaluated	evaluate	VERB
dem-15805	48	17	for	for	ADP
dem-15805	48	18	all	all	DET
dem-15805	48	19	considered	consider	VERB
dem-15805	48	20	mutual	mutual	ADJ
dem-15805	48	21	funds	fund	NOUN
dem-15805	48	22	in	in	ADP
dem-15805	48	23	all	all	DET
dem-15805	48	24	analyzed	analyze	VERB
dem-15805	48	25	time	time	NOUN
dem-15805	48	26	spans	span	NOUN
dem-15805	48	27	,	,	PUNCT
dem-15805	48	28	assuming	assume	VERB
dem-15805	48	29	that	that	SCONJ
dem-15805	48	30	wig	wig	NOUN
dem-15805	48	31	represents	represent	VERB
dem-15805	48	32	market	market	NOUN
dem-15805	48	33	index	index	NOUN
dem-15805	48	34	,	,	PUNCT
dem-15805	48	35	and	and	CCONJ
dem-15805	48	36	tbsp	tbsp	NOUN
dem-15805	48	37	is	be	AUX
dem-15805	48	38	the	the	DET
dem-15805	48	39	risk	risk	NOUN
dem-15805	48	40	-	-	PUNCT
dem-15805	48	41	free	free	ADJ
dem-15805	48	42	instrument	instrument	NOUN
dem-15805	48	43	.	.	PUNCT
dem-15805	49	1	to	to	PART
dem-15805	49	2	recognize	recognize	VERB
dem-15805	49	3	if	if	SCONJ
dem-15805	49	4	the	the	DET
dem-15805	49	5	sharpe	sharpe	NOUN
dem-15805	49	6	ratios	ratio	NOUN
dem-15805	49	7	are	be	AUX
dem-15805	49	8	equal	equal	ADJ
dem-15805	49	9	,	,	PUNCT
dem-15805	49	10	we	we	PRON
dem-15805	49	11	apply	apply	VERB
dem-15805	49	12	jobson	jobson	PROPN
dem-15805	49	13	-	-	PUNCT
dem-15805	49	14	korkie	korkie	NOUN
dem-15805	49	15	test	test	NOUN
dem-15805	49	16	(	(	PUNCT
dem-15805	49	17	jobson	jobson	PROPN
dem-15805	49	18	,	,	PUNCT
dem-15805	49	19	korkie	korkie	NOUN
dem-15805	49	20	,	,	PUNCT
dem-15805	49	21	1981	1981	NUM
dem-15805	49	22	)	)	PUNCT
dem-15805	49	23	with	with	ADP
dem-15805	49	24	memmel	memmel	NOUN
dem-15805	49	25	correction	correction	NOUN
dem-15805	49	26	(	(	PUNCT
dem-15805	49	27	memmel	memmel	NOUN
dem-15805	49	28	,	,	PUNCT
dem-15805	49	29	2003	2003	NUM
dem-15805	49	30	)	)	PUNCT
dem-15805	49	31	,	,	PUNCT
dem-15805	49	32	using	use	VERB
dem-15805	49	33	test	test	NOUN
dem-15805	49	34	statistics	statistic	NOUN
dem-15805	49	35	–	–	PUNCT
dem-15805	49	36	see	see	VERB
dem-15805	49	37	(	(	PUNCT
dem-15805	49	38	blitz	blitz	PROPN
dem-15805	49	39	,	,	PUNCT
dem-15805	49	40	van	van	PROPN
dem-15805	49	41	vliet	vliet	PROPN
dem-15805	49	42	,	,	PUNCT
dem-15805	49	43	2007	2007	NUM
dem-15805	49	44	)	)	PUNCT
dem-15805	49	45	,	,	PUNCT
dem-15805	49	46	(	(	PUNCT
dem-15805	49	47	kurach	kurach	NOUN
dem-15805	49	48	,	,	PUNCT
dem-15805	49	49	papla	papla	NOUN
dem-15805	49	50	,	,	PUNCT
dem-15805	49	51	2014	2014	NUM
dem-15805	49	52	):	):	PUNCT
dem-15805	49	53	(	(	PUNCT
dem-15805	49	54	10	10	NUM
dem-15805	49	55	)	)	PUNCT
dem-15805	49	56	where	where	SCONJ
dem-15805	49	57	for	for	ADP
dem-15805	49	58	the	the	DET
dem-15805	49	59	k	k	NOUN
dem-15805	49	60	-	-	PUNCT
dem-15805	49	61	th	th	VERB
dem-15805	49	62	period	period	NOUN
dem-15805	49	63	of	of	ADP
dem-15805	49	64	analysis	analysis	NOUN
dem-15805	49	65	(	(	PUNCT
dem-15805	49	66	k=1,2	k=1,2	PROPN
dem-15805	49	67	)	)	PUNCT
dem-15805	49	68	,	,	PUNCT
dem-15805	49	69	wsi	wsi	PROPN
dem-15805	49	70	–	–	PUNCT
dem-15805	49	71	sharpe	sharpe	PROPN
dem-15805	49	72	ratio	ratio	NOUN
dem-15805	49	73	,	,	PUNCT
dem-15805	49	74	ρ12	ρ12	NUM
dem-15805	49	75	–	–	PUNCT
dem-15805	49	76	correlation	correlation	NOUN
dem-15805	49	77	coefficient	coefficient	NOUN
dem-15805	49	78	,	,	PUNCT
dem-15805	49	79	(	(	PUNCT
dem-15805	49	80	i=1	i=1	X
dem-15805	49	81	,	,	PUNCT
dem-15805	49	82	2	2	NUM
dem-15805	49	83	)	)	PUNCT
dem-15805	49	84	.	.	PUNCT
dem-15805	50	1	2	2	X
dem-15805	50	2	.	.	X
dem-15805	50	3	changes	change	NOUN
dem-15805	50	4	of	of	ADP
dem-15805	50	5	the	the	DET
dem-15805	50	6	equity	equity	NOUN
dem-15805	50	7	and	and	CCONJ
dem-15805	50	8	bond	bond	NOUN
dem-15805	50	9	markets	market	NOUN
dem-15805	50	10	in	in	ADP
dem-15805	50	11	the	the	DET
dem-15805	50	12	first	first	ADJ
dem-15805	50	13	step	step	NOUN
dem-15805	50	14	of	of	ADP
dem-15805	50	15	our	our	PRON
dem-15805	50	16	analysis	analysis	NOUN
dem-15805	50	17	we	we	PRON
dem-15805	50	18	investigate	investigate	VERB
dem-15805	50	19	daily	daily	ADJ
dem-15805	50	20	rates	rate	NOUN
dem-15805	50	21	of	of	ADP
dem-15805	50	22	return	return	NOUN
dem-15805	50	23	of	of	ADP
dem-15805	50	24	indexes	index	NOUN
dem-15805	50	25	wig	wig	NOUN
dem-15805	50	26	and	and	CCONJ
dem-15805	50	27	tbsp	tbsp	NOUN
dem-15805	50	28	.	.	PUNCT
dem-15805	51	1	tables	table	NOUN
dem-15805	51	2	1–3	1–3	NUM
dem-15805	51	3	contain	contain	VERB
dem-15805	51	4	basic	basic	ADJ
dem-15805	51	5	characteristics	characteristic	NOUN
dem-15805	51	6	of	of	ADP
dem-15805	51	7	logarithmic	logarithmic	ADJ
dem-15805	51	8	rates	rate	NOUN
dem-15805	51	9	of	of	ADP
dem-15805	51	10	return	return	NOUN
dem-15805	51	11	.	.	PUNCT
dem-15805	52	1	bold	bold	ADJ
dem-15805	52	2	letters	letter	NOUN
dem-15805	52	3	denote	denote	VERB
dem-15805	52	4	rejection	rejection	NOUN
dem-15805	52	5	of	of	ADP
dem-15805	52	6	null	null	ADJ
dem-15805	52	7	hypotheses	hypothesis	NOUN
dem-15805	52	8	.	.	PUNCT
dem-15805	53	1	table	table	NOUN
dem-15805	53	2	1	1	NUM
dem-15805	53	3	.	.	PUNCT
dem-15805	53	4	basic	basic	ADJ
dem-15805	53	5	characteristics	characteristic	NOUN
dem-15805	53	6	of	of	ADP
dem-15805	53	7	daily	daily	ADJ
dem-15805	53	8	logarithmic	logarithmic	ADJ
dem-15805	53	9	rates	rate	NOUN
dem-15805	53	10	of	of	ADP
dem-15805	53	11	return	return	NOUN
dem-15805	53	12	from	from	ADP
dem-15805	53	13	the	the	DET
dem-15805	53	14	both	both	DET
dem-15805	53	15	benchmarks	benchmark	NOUN
dem-15805	53	16	evaluated	evaluate	VERB
dem-15805	53	17	for	for	ADP
dem-15805	53	18	the	the	DET
dem-15805	53	19	whole	whole	ADJ
dem-15805	53	20	period	period	NOUN
dem-15805	53	21	of	of	ADP
dem-15805	53	22	analysis	analysis	NOUN
dem-15805	53	23	basic	basic	ADJ
dem-15805	53	24	parameters	parameter	NOUN
dem-15805	53	25	wig	wig	PRON
dem-15805	53	26	tbsp	tbsp	VERB
dem-15805	53	27	basic	basic	ADJ
dem-15805	53	28	parameters	parameter	NOUN
dem-15805	53	29	wig	wig	VERB
dem-15805	53	30	tbsp	tbsp	NOUN
dem-15805	53	31	min	min	PROPN
dem-15805	53	32	–	–	PUNCT
dem-15805	53	33	5.8250	5.8250	NUM
dem-15805	53	34	%	%	NOUN
dem-15805	53	35	–	–	PUNCT
dem-15805	53	36	0.6366	0.6366	NUM
dem-15805	53	37	%	%	NOUN
dem-15805	53	38	range	range	NOUN
dem-15805	53	39	8.8302	8.8302	NUM
dem-15805	53	40	%	%	NOUN
dem-15805	53	41	1.2498	1.2498	NUM
dem-15805	53	42	%	%	NOUN
dem-15805	53	43	max	max	PROPN
dem-15805	53	44	3.0052	3.0052	NUM
dem-15805	53	45	%	%	NOUN
dem-15805	53	46	0.6133	0.6133	NUM
dem-15805	53	47	%	%	NOUN
dem-15805	53	48	standard	standard	ADJ
dem-15805	53	49	deviation	deviation	NOUN
dem-15805	53	50	0.9022	0.9022	NUM
dem-15805	53	51	%	%	NOUN
dem-15805	53	52	0.1752	0.1752	NUM
dem-15805	53	53	%	%	NOUN
dem-15805	53	54	arithmetic	arithmetic	ADJ
dem-15805	53	55	mean	mean	NOUN
dem-15805	53	56	–	–	PUNCT
dem-15805	53	57	0.0026	0.0026	NUM
dem-15805	53	58	%	%	NOUN
dem-15805	53	59	0.0148	0.0148	NUM
dem-15805	53	60	%	%	NOUN
dem-15805	53	61	coefficient	coefficient	NOUN
dem-15805	53	62	of	of	ADP
dem-15805	53	63	variability	variability	NOUN
dem-15805	53	64	343.12	343.12	NUM
dem-15805	53	65	11.80	11.80	NUM
dem-15805	53	66	median	median	NOUN
dem-15805	53	67	0.0000	0.0000	NUM
dem-15805	53	68	%	%	NOUN
dem-15805	53	69	0.0091	0.0091	NUM
dem-15805	53	70	%	%	NOUN
dem-15805	53	71	interquartile	interquartile	NOUN
dem-15805	53	72	deviation	deviation	NOUN
dem-15805	53	73	0.9530	0.9530	NUM
dem-15805	53	74	%	%	NOUN
dem-15805	53	75	0.1958	0.1958	NUM
dem-15805	53	76	%	%	NOUN
dem-15805	54	1	quartile	quartile	NOUN
dem-15805	54	2	i	i	PRON
dem-15805	54	3	–	–	PUNCT
dem-15805	54	4	0.4495	0.4495	NUM
dem-15805	54	5	%	%	NOUN
dem-15805	54	6	–	–	PUNCT
dem-15805	54	7	0.0774	0.0774	NUM
dem-15805	54	8	%	%	NOUN
dem-15805	54	9	asymmetry	asymmetry	NOUN
dem-15805	54	10	–	–	PUNCT
dem-15805	54	11	0.7278	0.7278	NUM
dem-15805	54	12	–	–	PUNCT
dem-15805	54	13	0.2519	0.2519	NUM
dem-15805	54	14	quartile	quartile	NOUN
dem-15805	54	15	iii	iii	NOUN
dem-15805	54	16	0.5036	0.5036	NUM
dem-15805	54	17	%	%	NOUN
dem-15805	54	18	0.1184	0.1184	NUM
dem-15805	54	19	%	%	NOUN
dem-15805	54	20	kurtosis	kurtosis	NOUN
dem-15805	54	21	4.2876	4.2876	NUM
dem-15805	54	22	1.0511	1.0511	NUM
dem-15805	54	23	note	note	NOUN
dem-15805	54	24	:	:	PUNCT
dem-15805	54	25	bold	bold	ADJ
dem-15805	54	26	letters	letter	NOUN
dem-15805	54	27	denote	denote	VERB
dem-15805	54	28	rejection	rejection	NOUN
dem-15805	54	29	of	of	ADP
dem-15805	54	30	null	null	ADJ
dem-15805	54	31	hypothesis	hypothesis	NOUN
dem-15805	54	32	.	.	PUNCT
dem-15805	55	1	it	it	PRON
dem-15805	55	2	is	be	AUX
dem-15805	55	3	visible	visible	ADJ
dem-15805	55	4	(	(	PUNCT
dem-15805	55	5	table	table	NOUN
dem-15805	55	6	1	1	NUM
dem-15805	55	7	)	)	PUNCT
dem-15805	55	8	that	that	PRON
dem-15805	55	9	expected	expect	VERB
dem-15805	55	10	rate	rate	NOUN
dem-15805	55	11	of	of	ADP
dem-15805	55	12	returns	return	NOUN
dem-15805	55	13	from	from	ADP
dem-15805	55	14	treasury	treasury	NOUN
dem-15805	55	15	bonds	bond	NOUN
dem-15805	55	16	is	be	AUX
dem-15805	55	17	significantly	significantly	ADV
dem-15805	55	18	positive	positive	ADJ
dem-15805	55	19	while	while	SCONJ
dem-15805	55	20	average	average	ADJ
dem-15805	55	21	returns	return	NOUN
dem-15805	55	22	from	from	ADP
dem-15805	55	23	equity	equity	NOUN
dem-15805	55	24	market	market	NOUN
dem-15805	55	25	is	be	AUX
dem-15805	55	26	negative	negative	ADJ
dem-15805	55	27	4	4	NUM
dem-15805	55	28	the	the	DET
dem-15805	55	29	description	description	NOUN
dem-15805	55	30	of	of	ADP
dem-15805	55	31	the	the	DET
dem-15805	55	32	efficiency	efficiency	NOUN
dem-15805	55	33	ratios	ratio	NOUN
dem-15805	55	34	,	,	PUNCT
dem-15805	55	35	their	their	PRON
dem-15805	55	36	application	application	NOUN
dem-15805	55	37	and	and	CCONJ
dem-15805	55	38	discussion	discussion	NOUN
dem-15805	55	39	can	can	AUX
dem-15805	55	40	be	be	AUX
dem-15805	55	41	found	find	VERB
dem-15805	55	42	in	in	ADP
dem-15805	55	43	many	many	ADJ
dem-15805	55	44	publications	publication	NOUN
dem-15805	55	45	.	.	PUNCT
dem-15805	56	1	good	good	ADJ
dem-15805	56	2	examples	example	NOUN
dem-15805	56	3	could	could	AUX
dem-15805	56	4	be	be	AUX
dem-15805	56	5	(	(	PUNCT
dem-15805	56	6	borkowski	borkowski	PROPN
dem-15805	56	7	2014	2014	NUM
dem-15805	56	8	)	)	PUNCT
dem-15805	56	9	,	,	PUNCT
dem-15805	56	10	(	(	PUNCT
dem-15805	56	11	perez	perez	PROPN
dem-15805	56	12	2012	2012	NUM
dem-15805	56	13	)	)	PUNCT
dem-15805	56	14	,	,	PUNCT
dem-15805	56	15	(	(	PUNCT
dem-15805	56	16	zamojska	zamojska	NOUN
dem-15805	56	17	2012	2012	NUM
dem-15805	56	18	)	)	PUNCT
dem-15805	56	19	and	and	CCONJ
dem-15805	56	20	witkowska	witkowska	ADJ
dem-15805	56	21	(	(	PUNCT
dem-15805	56	22	2016	2016	NUM
dem-15805	56	23	)	)	PUNCT
dem-15805	56	24	.	.	PUNCT
dem-15805	57	1	dorota	dorota	PROPN
dem-15805	57	2	witkowska	witkowska	PROPN
dem-15805	57	3	,	,	PUNCT
dem-15805	57	4	krzysztof	krzysztof	PROPN
dem-15805	57	5	kompa	kompa	VERB
dem-15805	57	6	dynamic	dynamic	ADJ
dem-15805	57	7	econometric	econometric	ADJ
dem-15805	57	8	models	model	NOUN
dem-15805	57	9	17	17	NUM
dem-15805	57	10	(	(	PUNCT
dem-15805	57	11	2017	2017	NUM
dem-15805	57	12	)	)	PUNCT
dem-15805	57	13	147–159	147–159	NUM
dem-15805	57	14	152	152	NUM
dem-15805	57	15	although	although	SCONJ
dem-15805	57	16	the	the	DET
dem-15805	57	17	null	null	ADJ
dem-15805	57	18	hypothesis	hypothesis	NOUN
dem-15805	57	19	can	can	AUX
dem-15805	57	20	not	not	PART
dem-15805	57	21	be	be	AUX
dem-15805	57	22	rejected	reject	VERB
dem-15805	57	23	.	.	PUNCT
dem-15805	58	1	tbsp	tbsp	NOUN
dem-15805	58	2	can	can	AUX
dem-15805	58	3	be	be	AUX
dem-15805	58	4	treated	treat	VERB
dem-15805	58	5	as	as	ADP
dem-15805	58	6	riskfree	riskfree	NOUN
dem-15805	58	7	instrument	instrument	NOUN
dem-15805	58	8	because	because	SCONJ
dem-15805	58	9	its	its	PRON
dem-15805	58	10	variability	variability	NOUN
dem-15805	58	11	is	be	AUX
dem-15805	58	12	very	very	ADV
dem-15805	58	13	low	low	ADJ
dem-15805	58	14	.	.	PUNCT
dem-15805	59	1	time	time	NOUN
dem-15805	59	2	series	series	PROPN
dem-15805	59	3	of	of	ADP
dem-15805	59	4	daily	daily	ADJ
dem-15805	59	5	rates	rate	NOUN
dem-15805	59	6	of	of	ADP
dem-15805	59	7	return	return	NOUN
dem-15805	59	8	from	from	ADP
dem-15805	59	9	wig	wig	NOUN
dem-15805	59	10	and	and	CCONJ
dem-15805	59	11	tbsp	tbsp	NOUN
dem-15805	59	12	are	be	AUX
dem-15805	59	13	asymmetric	asymmetric	ADJ
dem-15805	59	14	with	with	ADP
dem-15805	59	15	positive	positive	ADJ
dem-15805	59	16	kurtosis	kurtosis	NOUN
dem-15805	59	17	thus	thus	ADV
dem-15805	59	18	they	they	PRON
dem-15805	59	19	are	be	AUX
dem-15805	59	20	not	not	PART
dem-15805	59	21	normally	normally	ADV
dem-15805	59	22	distributed	distribute	VERB
dem-15805	59	23	.	.	PUNCT
dem-15805	60	1	however	however	ADV
dem-15805	60	2	according	accord	VERB
dem-15805	60	3	to	to	ADP
dem-15805	60	4	the	the	DET
dem-15805	60	5	huge	huge	ADJ
dem-15805	60	6	number	number	NOUN
dem-15805	60	7	of	of	ADP
dem-15805	60	8	observation	observation	NOUN
dem-15805	60	9	we	we	PRON
dem-15805	60	10	assume	assume	VERB
dem-15805	60	11	that	that	SCONJ
dem-15805	60	12	probability	probability	NOUN
dem-15805	60	13	distribution	distribution	NOUN
dem-15805	60	14	is	be	AUX
dem-15805	60	15	asymptotical	asymptotical	ADJ
dem-15805	60	16	normal	normal	ADJ
dem-15805	60	17	.	.	PUNCT
dem-15805	61	1	table	table	NOUN
dem-15805	61	2	2	2	NUM
dem-15805	61	3	.	.	PUNCT
dem-15805	61	4	test	test	NOUN
dem-15805	61	5	statistics	statistic	NOUN
dem-15805	61	6	verifying	verify	VERB
dem-15805	61	7	the	the	DET
dem-15805	61	8	hypothesis	hypothesis	NOUN
dem-15805	61	9	about	about	ADP
dem-15805	61	10	expected	expect	VERB
dem-15805	61	11	returns	return	NOUN
dem-15805	61	12	from	from	ADP
dem-15805	61	13	both	both	DET
dem-15805	61	14	indexes	index	NOUN
dem-15805	61	15	in	in	ADP
dem-15805	61	16	the	the	DET
dem-15805	61	17	considered	consider	VERB
dem-15805	61	18	periods	periods	PROPN
dem-15805	61	19	h0	h0	PROPN
dem-15805	61	20	:	:	PUNCT
dem-15805	61	21	e(rwig	e(rwig	PROPN
dem-15805	61	22	)	)	PUNCT
dem-15805	62	1	=	=	SYM
dem-15805	62	2	0	0	NUM
dem-15805	62	3	and	and	CCONJ
dem-15805	62	4	h0	h0	PROPN
dem-15805	62	5	:	:	PUNCT
dem-15805	62	6	e(rtbsp	e(rtbsp	NOUN
dem-15805	62	7	)	)	PUNCT
dem-15805	62	8	=	=	SYM
dem-15805	62	9	0	0	NUM
dem-15805	62	10	number	number	NOUN
dem-15805	62	11	of	of	ADP
dem-15805	62	12	observations	observation	NOUN
dem-15805	62	13	rates	rate	NOUN
dem-15805	62	14	of	of	ADP
dem-15805	62	15	returns	return	NOUN
dem-15805	62	16	from	from	ADP
dem-15805	62	17	number	number	NOUN
dem-15805	62	18	of	of	ADP
dem-15805	62	19	observations	observation	NOUN
dem-15805	62	20	rates	rate	NOUN
dem-15805	62	21	of	of	ADP
dem-15805	62	22	returns	return	NOUN
dem-15805	62	23	from	from	ADP
dem-15805	62	24	wig	wig	NOUN
dem-15805	62	25	tbsp	tbsp	NOUN
dem-15805	62	26	tbsp	tbsp	NOUN
dem-15805	62	27	tbsp	tbsp	NOUN
dem-15805	62	28	whole	whole	ADJ
dem-15805	62	29	period	period	NOUN
dem-15805	62	30	for	for	ADP
dem-15805	62	31	the	the	DET
dem-15805	62	32	presidential	presidential	ADJ
dem-15805	62	33	elections	election	NOUN
dem-15805	62	34	:	:	PUNCT
dem-15805	62	35	10.10.2013–9.12.2016	10.10.2013–9.12.2016	NUM
dem-15805	62	36	whole	whole	ADJ
dem-15805	62	37	period	period	NOUN
dem-15805	62	38	for	for	ADP
dem-15805	62	39	the	the	DET
dem-15805	62	40	parliamentary	parliamentary	ADJ
dem-15805	62	41	elections	election	NOUN
dem-15805	62	42	:	:	PUNCT
dem-15805	62	43	8.09.2014–9.12.2016	8.09.2014–9.12.2016	PROPN
dem-15805	62	44	826	826	NUM
dem-15805	62	45	–	–	PUNCT
dem-15805	62	46	0.0597	0.0597	NUM
dem-15805	62	47	1.7347	1.7347	NUM
dem-15805	62	48	590	590	NUM
dem-15805	62	49	–	–	PUNCT
dem-15805	62	50	0.3203	0.3203	NUM
dem-15805	62	51	0.9267	0.9267	NUM
dem-15805	62	52	period	period	NOUN
dem-15805	62	53	before	before	ADP
dem-15805	62	54	the	the	DET
dem-15805	62	55	first	first	ADJ
dem-15805	62	56	round	round	NOUN
dem-15805	62	57	of	of	ADP
dem-15805	62	58	presidential	presidential	ADJ
dem-15805	62	59	elections	election	NOUN
dem-15805	62	60	:	:	PUNCT
dem-15805	62	61	8.10.2013–10.05.2015	8.10.2013–10.05.2015	NUM
dem-15805	62	62	period	period	NOUN
dem-15805	62	63	after	after	ADP
dem-15805	62	64	the	the	DET
dem-15805	62	65	first	first	ADJ
dem-15805	62	66	round	round	NOUN
dem-15805	62	67	of	of	ADP
dem-15805	62	68	presidential	presidential	ADJ
dem-15805	62	69	elections	election	NOUN
dem-15805	62	70	:	:	PUNCT
dem-15805	62	71	11.05.2015–9.12.2016	11.05.2015–9.12.2016	NUM
dem-15805	62	72	409	409	NUM
dem-15805	62	73	0.6326	0.6326	NUM
dem-15805	62	74	3.0922	3.0922	NUM
dem-15805	62	75	417	417	NUM
dem-15805	62	76	–	–	SYM
dem-15805	62	77	0.6079	0.6079	NUM
dem-15805	62	78	0.4903	0.4903	NUM
dem-15805	62	79	period	period	NOUN
dem-15805	62	80	before	before	ADP
dem-15805	62	81	the	the	DET
dem-15805	62	82	second	second	ADJ
dem-15805	62	83	round	round	NOUN
dem-15805	62	84	of	of	ADP
dem-15805	62	85	presidential	presidential	ADJ
dem-15805	62	86	elections	election	NOUN
dem-15805	62	87	:	:	PUNCT
dem-15805	62	88	8.10.2013–22.05.2015	8.10.2013–22.05.2015	NUM
dem-15805	62	89	period	period	NOUN
dem-15805	62	90	after	after	ADP
dem-15805	62	91	the	the	DET
dem-15805	62	92	second	second	ADJ
dem-15805	62	93	round	round	NOUN
dem-15805	62	94	of	of	ADP
dem-15805	62	95	presidential	presidential	ADJ
dem-15805	62	96	elections	election	NOUN
dem-15805	62	97	:	:	PUNCT
dem-15805	62	98	25.05.2015–9.12.2016	25.05.2015–9.12.2016	NUM
dem-15805	62	99	419	419	NUM
dem-15805	62	100	0.5652	0.5652	NUM
dem-15805	62	101	2.9436	2.9436	NUM
dem-15805	62	102	407	407	NUM
dem-15805	62	103	–	–	PUNCT
dem-15805	62	104	0.5767	0.5767	NUM
dem-15805	62	105	0.5054	0.5054	NUM
dem-15805	62	106	period	period	NOUN
dem-15805	62	107	before	before	ADP
dem-15805	62	108	the	the	DET
dem-15805	62	109	parliamentary	parliamentary	ADJ
dem-15805	62	110	elections	election	NOUN
dem-15805	62	111	:	:	PUNCT
dem-15805	62	112	8.09.2014–23.10.2015	8.09.2014–23.10.2015	NUM
dem-15805	62	113	period	period	NOUN
dem-15805	62	114	after	after	ADP
dem-15805	62	115	the	the	DET
dem-15805	62	116	parliamentary	parliamentary	ADJ
dem-15805	62	117	elections	election	NOUN
dem-15805	62	118	:	:	PUNCT
dem-15805	62	119	26.10.2015–9.12.2016	26.10.2015–9.12.2016	NUM
dem-15805	62	120	295	295	NUM
dem-15805	62	121	–	–	PUNCT
dem-15805	62	122	0.4297	0.4297	NUM
dem-15805	62	123	1.3199	1.3199	NUM
dem-15805	62	124	295	295	NUM
dem-15805	62	125	–	–	PUNCT
dem-15805	62	126	0.0541	0.0541	NUM
dem-15805	62	127	–	–	PUNCT
dem-15805	62	128	0.0376	0.0376	NUM
dem-15805	62	129	period	period	NOUN
dem-15805	62	130	before	before	ADP
dem-15805	62	131	the	the	DET
dem-15805	62	132	new	new	ADJ
dem-15805	62	133	government	government	NOUN
dem-15805	62	134	appointment	appointment	NOUN
dem-15805	62	135	:	:	PUNCT
dem-15805	62	136	20.10.2014–13.11.2015	20.10.2014–13.11.2015	NUM
dem-15805	62	137	period	period	NOUN
dem-15805	62	138	after	after	ADP
dem-15805	62	139	the	the	DET
dem-15805	62	140	new	new	ADJ
dem-15805	62	141	government	government	NOUN
dem-15805	62	142	appointment	appointment	NOUN
dem-15805	62	143	:	:	PUNCT
dem-15805	62	144	16.11.2015–9.12.2016	16.11.2015–9.12.2016	NUM
dem-15805	62	145	280	280	NUM
dem-15805	62	146	–	–	PUNCT
dem-15805	62	147	0.5547	0.5547	NUM
dem-15805	62	148	0.9040	0.9040	NUM
dem-15805	62	149	280	280	NUM
dem-15805	62	150	0.2423	0.2423	NUM
dem-15805	62	151	–	–	PUNCT
dem-15805	62	152	0.0931	0.0931	NUM
dem-15805	62	153	period	period	NOUN
dem-15805	62	154	before	before	ADP
dem-15805	62	155	entry	entry	NOUN
dem-15805	62	156	into	into	ADP
dem-15805	62	157	force	force	NOUN
dem-15805	62	158	500	500	NUM
dem-15805	62	159	+	+	CCONJ
dem-15805	62	160	familly	familly	ADV
dem-15805	62	161	program	program	NOUN
dem-15805	62	162	:	:	PUNCT
dem-15805	62	163	23.07.2015–31.03.2016	23.07.2015–31.03.2016	NUM
dem-15805	62	164	period	period	NOUN
dem-15805	62	165	after	after	ADP
dem-15805	62	166	entry	entry	NOUN
dem-15805	62	167	into	into	ADP
dem-15805	62	168	force	force	NOUN
dem-15805	62	169	500+familly	500+familly	NUM
dem-15805	62	170	program	program	NOUN
dem-15805	62	171	:	:	PUNCT
dem-15805	62	172	1.04.2016–9.12.2016	1.04.2016–9.12.2016	PROPN
dem-15805	62	173	181	181	NUM
dem-15805	62	174	–	–	PUNCT
dem-15805	62	175	0.3644	0.3644	NUM
dem-15805	62	176	1.0793	1.0793	NUM
dem-15805	62	177	181	181	NUM
dem-15805	62	178	0.2689	0.2689	NUM
dem-15805	62	179	–	–	PUNCT
dem-15805	62	180	0.5718	0.5718	NUM
dem-15805	62	181	note	note	NOUN
dem-15805	62	182	:	:	PUNCT
dem-15805	62	183	bold	bold	ADJ
dem-15805	62	184	letters	letter	NOUN
dem-15805	62	185	denote	denote	VERB
dem-15805	62	186	rejection	rejection	NOUN
dem-15805	62	187	of	of	ADP
dem-15805	62	188	null	null	ADJ
dem-15805	62	189	hypothesis	hypothesis	NOUN
dem-15805	62	190	.	.	PUNCT
dem-15805	63	1	analyzing	analyze	VERB
dem-15805	63	2	returns	return	NOUN
dem-15805	63	3	from	from	ADP
dem-15805	63	4	both	both	DET
dem-15805	63	5	markets	market	NOUN
dem-15805	63	6	in	in	ADP
dem-15805	63	7	distinguished	distinguished	ADJ
dem-15805	63	8	12	12	NUM
dem-15805	63	9	periods	period	NOUN
dem-15805	63	10	of	of	ADP
dem-15805	63	11	consideration	consideration	NOUN
dem-15805	63	12	,	,	PUNCT
dem-15805	63	13	one	one	PRON
dem-15805	63	14	may	may	AUX
dem-15805	63	15	notice	notice	VERB
dem-15805	63	16	(	(	PUNCT
dem-15805	63	17	table	table	NOUN
dem-15805	63	18	2	2	NUM
dem-15805	63	19	)	)	PUNCT
dem-15805	63	20	that	that	SCONJ
dem-15805	63	21	only	only	ADV
dem-15805	63	22	treasury	treasury	PROPN
dem-15805	63	23	bonds	bond	NOUN
dem-15805	63	24	generated	generate	VERB
dem-15805	63	25	significantly	significantly	ADV
dem-15805	63	26	positive	positive	ADJ
dem-15805	63	27	rates	rate	NOUN
dem-15805	63	28	of	of	ADP
dem-15805	63	29	return	return	NOUN
dem-15805	63	30	in	in	ADP
dem-15805	63	31	the	the	DET
dem-15805	63	32	periods	period	NOUN
dem-15805	63	33	before	before	ADP
dem-15805	63	34	both	both	DET
dem-15805	63	35	rounds	round	NOUN
dem-15805	63	36	of	of	ADP
dem-15805	63	37	presidential	presidential	ADJ
dem-15805	63	38	election	election	NOUN
dem-15805	63	39	and	and	CCONJ
dem-15805	63	40	in	in	ADP
dem-15805	63	41	the	the	DET
dem-15805	63	42	whole	whole	ADJ
dem-15805	63	43	analyzed	analyze	VERB
dem-15805	63	44	period	period	NOUN
dem-15805	63	45	.	.	PUNCT
dem-15805	64	1	it	it	PRON
dem-15805	64	2	is	be	AUX
dem-15805	64	3	visible	visible	ADJ
dem-15805	64	4	that	that	SCONJ
dem-15805	64	5	change	change	NOUN
dem-15805	64	6	on	on	ADP
dem-15805	64	7	the	the	DET
dem-15805	64	8	politic	politic	ADJ
dem-15805	64	9	scene	scene	NOUN
dem-15805	64	10	caused	cause	VERB
dem-15805	64	11	decline	decline	NOUN
dem-15805	64	12	in	in	ADP
dem-15805	64	13	the	the	DET
dem-15805	64	14	both	both	DET
dem-15805	64	15	markets	market	NOUN
dem-15805	64	16	.	.	PUNCT
dem-15805	65	1	however	however	ADV
dem-15805	65	2	,	,	PUNCT
dem-15805	65	3	the	the	DET
dem-15805	65	4	performance	performance	NOUN
dem-15805	65	5	of	of	ADP
dem-15805	65	6	the	the	DET
dem-15805	65	7	equity	equity	NOUN
dem-15805	65	8	market	market	NOUN
dem-15805	65	9	shows	show	VERB
dem-15805	65	10	slight	slight	ADJ
dem-15805	65	11	improvement	improvement	NOUN
dem-15805	65	12	in	in	ADP
dem-15805	65	13	the	the	DET
dem-15805	65	14	periods	period	NOUN
dem-15805	65	15	after	after	ADP
dem-15805	65	16	new	new	ADJ
dem-15805	65	17	government	government	NOUN
dem-15805	65	18	appointment	appointment	NOUN
dem-15805	65	19	and	and	CCONJ
dem-15805	65	20	when	when	SCONJ
dem-15805	65	21	500	500	NUM
dem-15805	65	22	+	+	NUM
dem-15805	65	23	family	family	NOUN
dem-15805	65	24	program	program	NOUN
dem-15805	65	25	entered	enter	VERB
dem-15805	65	26	into	into	ADP
dem-15805	65	27	force	force	NOUN
dem-15805	65	28	.	.	PUNCT
dem-15805	66	1	such	such	ADJ
dem-15805	66	2	situation	situation	NOUN
dem-15805	66	3	may	may	AUX
dem-15805	66	4	be	be	AUX
dem-15805	66	5	a	a	DET
dem-15805	66	6	result	result	NOUN
dem-15805	66	7	of	of	ADP
dem-15805	66	8	investors	investor	NOUN
dem-15805	66	9	emotions	emotion	NOUN
dem-15805	66	10	and	and	CCONJ
dem-15805	66	11	expectations	expectation	NOUN
dem-15805	66	12	which	which	PRON
dem-15805	66	13	revealed	reveal	VERB
dem-15805	66	14	earlier	early	ADV
dem-15805	66	15	and	and	CCONJ
dem-15805	66	16	anticipated	anticipate	VERB
dem-15805	66	17	both	both	DET
dem-15805	66	18	events	event	NOUN
dem-15805	66	19	.	.	PUNCT
dem-15805	67	1	the	the	DET
dem-15805	67	2	obtained	obtain	VERB
dem-15805	67	3	results	result	NOUN
dem-15805	67	4	are	be	AUX
dem-15805	67	5	also	also	ADV
dem-15805	67	6	validated	validate	VERB
dem-15805	67	7	by	by	ADP
dem-15805	67	8	the	the	DET
dem-15805	67	9	tests	test	NOUN
dem-15805	67	10	which	which	PRON
dem-15805	67	11	are	be	AUX
dem-15805	67	12	used	use	VERB
dem-15805	67	13	for	for	ADP
dem-15805	67	14	comparison	comparison	NOUN
dem-15805	67	15	of	of	ADP
dem-15805	67	16	returns	return	NOUN
dem-15805	67	17	in	in	ADP
dem-15805	67	18	considered	consider	VERB
dem-15805	67	19	sub	sub	NOUN
dem-15805	67	20	-	-	ADJ
dem-15805	67	21	periods	periods	ADJ
dem-15805	67	22	(	(	PUNCT
dem-15805	67	23	table	table	NOUN
dem-15805	67	24	3	3	NUM
dem-15805	67	25	)	)	PUNCT
dem-15805	67	26	.	.	PUNCT
dem-15805	68	1	higher	high	ADJ
dem-15805	68	2	returns	return	NOUN
dem-15805	68	3	are	be	AUX
dem-15805	68	4	observed	observe	VERB
dem-15805	68	5	only	only	ADV
dem-15805	68	6	for	for	ADP
dem-15805	68	7	tbsp	tbsp	NOUN
dem-15805	68	8	before	before	ADP
dem-15805	68	9	both	both	DET
dem-15805	68	10	rounds	round	NOUN
dem-15805	68	11	of	of	ADP
dem-15805	68	12	presidential	presidential	ADJ
dem-15805	68	13	election	election	NOUN
dem-15805	68	14	.	.	PUNCT
dem-15805	69	1	equity	equity	NOUN
dem-15805	69	2	market	market	NOUN
dem-15805	69	3	was	be	AUX
dem-15805	69	4	characterized	characterize	VERB
dem-15805	69	5	by	by	ADP
dem-15805	69	6	the	the	DET
dem-15805	69	7	significant	significant	ADJ
dem-15805	69	8	increase	increase	NOUN
dem-15805	69	9	of	of	ADP
dem-15805	69	10	risk	risk	NOUN
dem-15805	69	11	after	after	ADP
dem-15805	69	12	the	the	DET
dem-15805	69	13	government	government	NOUN
dem-15805	69	14	appointment	appointment	NOUN
dem-15805	69	15	,	,	PUNCT
dem-15805	69	16	presidential	presidential	ADJ
dem-15805	69	17	and	and	CCONJ
dem-15805	69	18	parliamentary	parliamentary	ADJ
dem-15805	69	19	elections	election	NOUN
dem-15805	69	20	however	however	ADV
dem-15805	69	21	how	how	SCONJ
dem-15805	69	22	the	the	DET
dem-15805	69	23	change	change	NOUN
dem-15805	69	24	of	of	ADP
dem-15805	69	25	governing	govern	VERB
dem-15805	69	26	party	party	NOUN
dem-15805	69	27	influences	influence	VERB
dem-15805	69	28	the	the	DET
dem-15805	69	29	efficiency	efficiency	NOUN
dem-15805	69	30	of	of	ADP
dem-15805	69	31	financial	financial	ADJ
dem-15805	69	32	market	market	NOUN
dem-15805	69	33	…	…	PUNCT
dem-15805	69	34	dynamic	dynamic	ADJ
dem-15805	69	35	econometric	econometric	ADJ
dem-15805	69	36	models	model	NOUN
dem-15805	69	37	17	17	NUM
dem-15805	69	38	(	(	PUNCT
dem-15805	69	39	2017	2017	NUM
dem-15805	69	40	)	)	PUNCT
dem-15805	69	41	147–159	147–159	NUM
dem-15805	69	42	153	153	NUM
dem-15805	69	43	the	the	DET
dem-15805	69	44	risk	risk	NOUN
dem-15805	69	45	significantly	significantly	ADV
dem-15805	69	46	decreased	decrease	VERB
dem-15805	69	47	after	after	SCONJ
dem-15805	69	48	the	the	DET
dem-15805	69	49	500	500	NUM
dem-15805	69	50	+	+	NOUN
dem-15805	69	51	family	family	NOUN
dem-15805	69	52	program	program	NOUN
dem-15805	69	53	went	go	VERB
dem-15805	69	54	into	into	ADP
dem-15805	69	55	effect	effect	NOUN
dem-15805	69	56	.	.	PUNCT
dem-15805	70	1	table	table	NOUN
dem-15805	70	2	3	3	NUM
dem-15805	70	3	.	.	PUNCT
dem-15805	70	4	test	test	NOUN
dem-15805	70	5	statistics	statistic	NOUN
dem-15805	70	6	verifying	verify	VERB
dem-15805	70	7	the	the	DET
dem-15805	70	8	hypothesis	hypothesis	NOUN
dem-15805	70	9	about	about	ADP
dem-15805	70	10	expected	expect	VERB
dem-15805	70	11	returns	return	NOUN
dem-15805	70	12	and	and	CCONJ
dem-15805	70	13	risk	risk	NOUN
dem-15805	70	14	of	of	ADP
dem-15805	70	15	equity	equity	NOUN
dem-15805	70	16	and	and	CCONJ
dem-15805	70	17	bond	bond	NOUN
dem-15805	70	18	markets	market	NOUN
dem-15805	70	19	in	in	ADP
dem-15805	70	20	considered	consider	VERB
dem-15805	70	21	periods	period	NOUN
dem-15805	70	22	e(rbefore	e(rbefore	NOUN
dem-15805	70	23	)	)	PUNCT
dem-15805	70	24	=	=	SYM
dem-15805	70	25	e(rafter	e(rafter	X
dem-15805	70	26	)	)	PUNCT
dem-15805	70	27	,	,	PUNCT
dem-15805	70	28	d	d	PROPN
dem-15805	70	29	2	2	NUM
dem-15805	70	30	(	(	PUNCT
dem-15805	70	31	rbefore	rbefore	NOUN
dem-15805	70	32	)	)	PUNCT
dem-15805	70	33	=	=	PUNCT
dem-15805	71	1	d	d	ADP
dem-15805	71	2	2	2	NUM
dem-15805	71	3	(	(	PUNCT
dem-15805	71	4	rafter	rafter	NOUN
dem-15805	71	5	)	)	PUNCT
dem-15805	71	6	index	index	NOUN
dem-15805	71	7	test	test	NOUN
dem-15805	71	8	statistics	statistic	NOUN
dem-15805	71	9	evaluated	evaluate	VERB
dem-15805	71	10	due	due	ADP
dem-15805	71	11	to	to	ADP
dem-15805	71	12	formulas	formula	NOUN
dem-15805	71	13	for	for	ADP
dem-15805	71	14	returns	return	NOUN
dem-15805	71	15	:	:	PUNCT
dem-15805	71	16	for	for	ADP
dem-15805	71	17	risk	risk	NOUN
dem-15805	71	18	for	for	ADP
dem-15805	71	19	returns	return	NOUN
dem-15805	71	20	:	:	PUNCT
dem-15805	71	21	for	for	ADP
dem-15805	71	22	risk	risk	NOUN
dem-15805	71	23	(	(	PUNCT
dem-15805	71	24	2	2	NUM
dem-15805	71	25	)	)	PUNCT
dem-15805	71	26	(	(	PUNCT
dem-15805	71	27	2	2	NUM
dem-15805	71	28	)	)	PUNCT
dem-15805	71	29	(	(	PUNCT
dem-15805	71	30	1	1	X
dem-15805	71	31	)	)	PUNCT
dem-15805	71	32	(	(	PUNCT
dem-15805	71	33	3	3	X
dem-15805	71	34	)	)	PUNCT
dem-15805	71	35	(	(	PUNCT
dem-15805	71	36	2	2	NUM
dem-15805	71	37	)	)	PUNCT
dem-15805	71	38	(	(	PUNCT
dem-15805	71	39	2	2	NUM
dem-15805	71	40	)	)	PUNCT
dem-15805	71	41	(	(	PUNCT
dem-15805	71	42	1	1	X
dem-15805	71	43	)	)	PUNCT
dem-15805	71	44	(	(	PUNCT
dem-15805	71	45	3	3	X
dem-15805	71	46	)	)	PUNCT
dem-15805	71	47	presidential	presidential	ADJ
dem-15805	71	48	elections	election	NOUN
dem-15805	71	49	,	,	PUNCT
dem-15805	71	50	the	the	DET
dem-15805	71	51	1st	1st	ADJ
dem-15805	71	52	round	round	ADJ
dem-15805	71	53	presidential	presidential	ADJ
dem-15805	71	54	elections	election	NOUN
dem-15805	71	55	,	,	PUNCT
dem-15805	71	56	the	the	DET
dem-15805	71	57	2nd	2nd	ADJ
dem-15805	71	58	round	round	ADJ
dem-15805	71	59	wig	wig	NOUN
dem-15805	71	60	1.3649	1.3649	NUM
dem-15805	71	61	1.1186	1.1186	NUM
dem-15805	71	62	0.8652	0.8652	NUM
dem-15805	71	63	1.5179	1.5179	NUM
dem-15805	71	64	1.2906	1.2906	NUM
dem-15805	71	65	1.0112	1.0112	NUM
dem-15805	71	66	0.7960	0.7960	NUM
dem-15805	71	67	1.5823	1.5823	NUM
dem-15805	71	68	tbsp	tbsp	NOUN
dem-15805	71	69	2.5649	2.5649	NUM
dem-15805	71	70	2.5592	2.5592	NUM
dem-15805	71	71	1.8116	1.8116	NUM
dem-15805	71	72	1.0241	1.0241	NUM
dem-15805	71	73	2.4287	2.4287	NUM
dem-15805	71	74	2.3494	2.3494	NUM
dem-15805	71	75	1.6886	1.6886	NUM
dem-15805	71	76	1.0381	1.0381	NUM
dem-15805	71	77	parliamentary	parliamentary	ADJ
dem-15805	71	78	elections	election	NOUN
dem-15805	71	79	government	government	NOUN
dem-15805	71	80	appointment	appointment	NOUN
dem-15805	71	81	wig	wig	NOUN
dem-15805	71	82	–	–	PUNCT
dem-15805	71	83	0.3663	0.3663	NUM
dem-15805	71	84	–	–	PUNCT
dem-15805	71	85	0.3125	0.3125	NUM
dem-15805	71	86	–	–	PUNCT
dem-15805	71	87	0.0574	0.0574	NUM
dem-15805	71	88	1.3068	1.3068	NUM
dem-15805	71	89	–	–	PUNCT
dem-15805	71	90	0.8394	0.8394	NUM
dem-15805	71	91	–	–	PUNCT
dem-15805	71	92	0.7142	0.7142	NUM
dem-15805	71	93	–	–	PUNCT
dem-15805	71	94	0.1330	0.1330	NUM
dem-15805	71	95	1.3810	1.3810	NUM
dem-15805	71	96	tbsp	tbsp	NOUN
dem-15805	71	97	1.3560	1.3560	NUM
dem-15805	71	98	1.4143	1.4143	NUM
dem-15805	71	99	0.2362	0.2362	NUM
dem-15805	71	100	1.0040	1.0040	NUM
dem-15805	71	101	0.9925	0.9925	NUM
dem-15805	71	102	1.0440	1.0440	NUM
dem-15805	71	103	0.1758	0.1758	NUM
dem-15805	71	104	1.1066	1.1066	NUM
dem-15805	71	105	introduction	introduction	NOUN
dem-15805	71	106	of	of	ADP
dem-15805	71	107	500	500	NUM
dem-15805	71	108	+	+	NOUN
dem-15805	71	109	program	program	NOUN
dem-15805	71	110	wig	wig	NOUN
dem-15805	71	111	–	–	PUNCT
dem-15805	71	112	0.5945	0.5945	NUM
dem-15805	71	113	–	–	PUNCT
dem-15805	71	114	0.6945	0.6945	NUM
dem-15805	71	115	–	–	PUNCT
dem-15805	71	116	0.1231	0.1231	NUM
dem-15805	71	117	1.3649	1.3649	NUM
dem-15805	71	118	tbsp	tbsp	NOUN
dem-15805	71	119	1.5723	1.5723	NUM
dem-15805	71	120	1.8236	1.8236	NUM
dem-15805	71	121	0.3247	0.3247	NUM
dem-15805	71	122	1.3452	1.3452	NUM
dem-15805	71	123	note	note	NOUN
dem-15805	71	124	:	:	PUNCT
dem-15805	71	125	positive	positive	ADJ
dem-15805	71	126	values	value	NOUN
dem-15805	71	127	of	of	ADP
dem-15805	71	128	test	test	NOUN
dem-15805	71	129	statistics	statistic	NOUN
dem-15805	71	130	denote	denote	VERB
dem-15805	71	131	that	that	SCONJ
dem-15805	71	132	returns	return	NOUN
dem-15805	71	133	are	be	AUX
dem-15805	71	134	bigger	big	ADJ
dem-15805	71	135	before	before	ADP
dem-15805	71	136	the	the	DET
dem-15805	71	137	considered	consider	VERB
dem-15805	71	138	event	event	NOUN
dem-15805	71	139	than	than	ADP
dem-15805	71	140	after	after	ADP
dem-15805	71	141	.	.	PUNCT
dem-15805	72	1	italic	italic	ADJ
dem-15805	72	2	letters	letter	NOUN
dem-15805	72	3	denote	denote	VERB
dem-15805	72	4	that	that	DET
dem-15805	72	5	risk	risk	NOUN
dem-15805	72	6	was	be	AUX
dem-15805	72	7	smaller	small	ADJ
dem-15805	72	8	after	after	ADP
dem-15805	72	9	the	the	DET
dem-15805	72	10	event	event	NOUN
dem-15805	72	11	than	than	ADP
dem-15805	72	12	before	before	ADV
dem-15805	72	13	,	,	PUNCT
dem-15805	72	14	bold	bold	ADJ
dem-15805	72	15	–	–	PUNCT
dem-15805	72	16	rejection	rejection	NOUN
dem-15805	72	17	of	of	ADP
dem-15805	72	18	null	null	ADJ
dem-15805	72	19	hypothesis	hypothesis	NOUN
dem-15805	72	20	.	.	PUNCT
dem-15805	73	1	3	3	X
dem-15805	73	2	.	.	X
dem-15805	73	3	mutual	mutual	ADJ
dem-15805	73	4	funds	fund	NOUN
dem-15805	73	5	market	market	VERB
dem-15805	73	6	the	the	DET
dem-15805	73	7	mutual	mutual	ADJ
dem-15805	73	8	fund	fund	NOUN
dem-15805	73	9	market	market	NOUN
dem-15805	73	10	is	be	AUX
dem-15805	73	11	represented	represent	VERB
dem-15805	73	12	by	by	ADP
dem-15805	73	13	five	five	NUM
dem-15805	73	14	selected	select	VERB
dem-15805	73	15	stability	stability	NOUN
dem-15805	73	16	growth	growth	NOUN
dem-15805	73	17	mutual	mutual	ADJ
dem-15805	73	18	funds	fund	NOUN
dem-15805	73	19	.	.	PUNCT
dem-15805	74	1	all	all	DET
dem-15805	74	2	these	these	DET
dem-15805	74	3	funds	fund	NOUN
dem-15805	74	4	started	start	VERB
dem-15805	74	5	their	their	PRON
dem-15805	74	6	functioning	functioning	NOUN
dem-15805	74	7	in	in	ADP
dem-15805	74	8	poland	poland	PROPN
dem-15805	74	9	in	in	ADP
dem-15805	74	10	years	year	NOUN
dem-15805	74	11	1999	1999	NUM
dem-15805	74	12	–	–	PUNCT
dem-15805	74	13	–	–	PUNCT
dem-15805	74	14	2003	2003	NUM
dem-15805	74	15	,	,	PUNCT
dem-15805	74	16	the	the	DET
dem-15805	74	17	“	"	PUNCT
dem-15805	74	18	oldest	old	ADJ
dem-15805	74	19	”	"	PUNCT
dem-15805	74	20	is	be	AUX
dem-15805	74	21	fio	fio	NOUN
dem-15805	74	22	pzu	pzu	NOUN
dem-15805	74	23	,	,	PUNCT
dem-15805	74	24	and	and	CCONJ
dem-15805	74	25	the	the	DET
dem-15805	74	26	“	"	PUNCT
dem-15805	74	27	youngest	young	ADJ
dem-15805	74	28	”	"	PUNCT
dem-15805	74	29	fio	fio	NOUN
dem-15805	74	30	credit	credit	NOUN
dem-15805	74	31	agricole	agricole	NOUN
dem-15805	74	32	.	.	PUNCT
dem-15805	75	1	analysis	analysis	NOUN
dem-15805	75	2	is	be	AUX
dem-15805	75	3	provided	provide	VERB
dem-15805	75	4	for	for	ADP
dem-15805	75	5	the	the	DET
dem-15805	75	6	sub	sub	ADJ
dem-15805	75	7	-	-	ADJ
dem-15805	75	8	periods	period	NOUN
dem-15805	75	9	constructed	construct	VERB
dem-15805	75	10	around	around	ADP
dem-15805	75	11	both	both	DET
dem-15805	75	12	rounds	round	NOUN
dem-15805	75	13	of	of	ADP
dem-15805	75	14	the	the	DET
dem-15805	75	15	presidential	presidential	ADJ
dem-15805	75	16	election	election	NOUN
dem-15805	75	17	because	because	SCONJ
dem-15805	75	18	in	in	ADP
dem-15805	75	19	other	other	ADJ
dem-15805	75	20	sub	sub	NOUN
dem-15805	75	21	-	-	NOUN
dem-15805	75	22	periods	periods	ADJ
dem-15805	75	23	no	no	DET
dem-15805	75	24	essential	essential	ADJ
dem-15805	75	25	changes	change	NOUN
dem-15805	75	26	was	be	AUX
dem-15805	75	27	observed	observe	VERB
dem-15805	75	28	.	.	PUNCT
dem-15805	76	1	table	table	NOUN
dem-15805	76	2	4	4	NUM
dem-15805	76	3	.	.	PUNCT
dem-15805	77	1	values	value	NOUN
dem-15805	77	2	of	of	ADP
dem-15805	77	3	test	test	NOUN
dem-15805	77	4	statistics	statistic	NOUN
dem-15805	77	5	(	(	PUNCT
dem-15805	77	6	2	2	X
dem-15805	77	7	)	)	PUNCT
dem-15805	77	8	verifying	verify	VERB
dem-15805	77	9	the	the	DET
dem-15805	77	10	hypothesis	hypothesis	NOUN
dem-15805	77	11	about	about	ADP
dem-15805	77	12	expected	expect	VERB
dem-15805	77	13	returns	return	NOUN
dem-15805	77	14	from	from	ADP
dem-15805	77	15	mutual	mutual	ADJ
dem-15805	77	16	funds	fund	NOUN
dem-15805	77	17	in	in	ADP
dem-15805	77	18	considered	consider	VERB
dem-15805	77	19	periods	periods	PROPN
dem-15805	77	20	h0	h0	PROPN
dem-15805	77	21	:	:	PUNCT
dem-15805	77	22	e(rfio	e(rfio	NOUN
dem-15805	77	23	)	)	PUNCT
dem-15805	78	1	=	=	SYM
dem-15805	78	2	0	0	NUM
dem-15805	78	3	period	period	NOUN
dem-15805	78	4	ca	can	AUX
dem-15805	78	5	kbc	kbc	PROPN
dem-15805	78	6	nn	nn	PROPN
dem-15805	78	7	pio	pio	PROPN
dem-15805	78	8	pzu	pzu	PROPN
dem-15805	78	9	whole	whole	ADJ
dem-15805	78	10	sample	sample	NOUN
dem-15805	78	11	0.8114	0.8114	NUM
dem-15805	78	12	0.4773	0.4773	NUM
dem-15805	78	13	0.2734	0.2734	NUM
dem-15805	78	14	–	–	PUNCT
dem-15805	78	15	0.3305	0.3305	NUM
dem-15805	78	16	–	–	PUNCT
dem-15805	78	17	0.1463	0.1463	NUM
dem-15805	78	18	before	before	ADP
dem-15805	78	19	the	the	DET
dem-15805	78	20	presidential	presidential	ADJ
dem-15805	78	21	elections	election	NOUN
dem-15805	78	22	1st	1st	NOUN
dem-15805	78	23	round	round	ADP
dem-15805	78	24	2.2363	2.2363	NUM
dem-15805	78	25	1.4043	1.4043	NUM
dem-15805	78	26	1.1328	1.1328	NUM
dem-15805	78	27	0.4378	0.4378	NUM
dem-15805	78	28	0.4042	0.4042	NUM
dem-15805	78	29	after	after	ADP
dem-15805	78	30	the	the	DET
dem-15805	78	31	presidential	presidential	ADJ
dem-15805	78	32	elections	election	NOUN
dem-15805	78	33	1st	1st	ADJ
dem-15805	78	34	round	round	NOUN
dem-15805	78	35	–	–	PUNCT
dem-15805	78	36	0.3498	0.3498	NUM
dem-15805	78	37	–	–	PUNCT
dem-15805	78	38	0.5631	0.5631	NUM
dem-15805	78	39	–	–	PUNCT
dem-15805	78	40	0.4387	0.4387	NUM
dem-15805	78	41	–	–	PUNCT
dem-15805	78	42	1.0512	1.0512	NUM
dem-15805	78	43	–	–	PUNCT
dem-15805	78	44	0.6572	0.6572	NUM
dem-15805	78	45	before	before	ADP
dem-15805	78	46	the	the	DET
dem-15805	78	47	presidential	presidential	ADJ
dem-15805	78	48	elections	election	NOUN
dem-15805	78	49	2nd	2nd	NOUN
dem-15805	78	50	round	round	ADP
dem-15805	78	51	2.0612	2.0612	NUM
dem-15805	78	52	1.2635	1.2635	NUM
dem-15805	78	53	1.0595	1.0595	NUM
dem-15805	78	54	0.3959	0.3959	NUM
dem-15805	78	55	0.3531	0.3531	NUM
dem-15805	78	56	after	after	ADP
dem-15805	78	57	the	the	DET
dem-15805	78	58	presidential	presidential	ADJ
dem-15805	78	59	elections	election	NOUN
dem-15805	78	60	2nd	2nd	ADJ
dem-15805	78	61	round	round	ADV
dem-15805	78	62	–	–	PUNCT
dem-15805	78	63	0.2664	0.2664	NUM
dem-15805	78	64	–	–	PUNCT
dem-15805	78	65	0.4694	0.4694	NUM
dem-15805	78	66	–	–	PUNCT
dem-15805	78	67	0.4092	0.4092	NUM
dem-15805	78	68	–	–	PUNCT
dem-15805	78	69	1.0385	1.0385	NUM
dem-15805	78	70	–	–	PUNCT
dem-15805	78	71	0.6432	0.6432	NUM
dem-15805	78	72	note	note	NOUN
dem-15805	78	73	:	:	PUNCT
dem-15805	78	74	bold	bold	ADJ
dem-15805	78	75	letters	letter	NOUN
dem-15805	78	76	denote	denote	VERB
dem-15805	78	77	rejection	rejection	NOUN
dem-15805	78	78	of	of	ADP
dem-15805	78	79	null	null	ADJ
dem-15805	78	80	hypothesis	hypothesis	NOUN
dem-15805	78	81	.	.	PUNCT
dem-15805	79	1	analyzing	analyze	VERB
dem-15805	79	2	expected	expect	VERB
dem-15805	79	3	returns	return	NOUN
dem-15805	79	4	form	form	VERB
dem-15805	79	5	participation	participation	NOUN
dem-15805	79	6	units	unit	NOUN
dem-15805	79	7	of	of	ADP
dem-15805	79	8	mutual	mutual	ADJ
dem-15805	79	9	funds	fund	NOUN
dem-15805	79	10	,	,	PUNCT
dem-15805	79	11	it	it	PRON
dem-15805	79	12	is	be	AUX
dem-15805	79	13	visible	visible	ADJ
dem-15805	79	14	that	that	SCONJ
dem-15805	79	15	before	before	SCONJ
dem-15805	79	16	both	both	DET
dem-15805	79	17	rounds	round	NOUN
dem-15805	79	18	of	of	ADP
dem-15805	79	19	the	the	DET
dem-15805	79	20	presidential	presidential	ADJ
dem-15805	79	21	election	election	NOUN
dem-15805	79	22	mutual	mutual	ADJ
dem-15805	79	23	funds	fund	NOUN
dem-15805	79	24	generated	generate	VERB
dem-15805	79	25	positive	positive	ADJ
dem-15805	79	26	returns	return	NOUN
dem-15805	79	27	while	while	SCONJ
dem-15805	79	28	after	after	ADV
dem-15805	79	29	–	–	PUNCT
dem-15805	79	30	the	the	DET
dem-15805	79	31	negative	negative	ADJ
dem-15805	79	32	ones	one	NOUN
dem-15805	79	33	dorota	dorota	PROPN
dem-15805	79	34	witkowska	witkowska	PROPN
dem-15805	79	35	,	,	PUNCT
dem-15805	79	36	krzysztof	krzysztof	PROPN
dem-15805	79	37	kompa	kompa	VERB
dem-15805	79	38	dynamic	dynamic	ADJ
dem-15805	79	39	econometric	econometric	ADJ
dem-15805	79	40	models	model	NOUN
dem-15805	79	41	17	17	NUM
dem-15805	79	42	(	(	PUNCT
dem-15805	79	43	2017	2017	NUM
dem-15805	79	44	)	)	PUNCT
dem-15805	79	45	147–159	147–159	NUM
dem-15805	79	46	154	154	NUM
dem-15805	79	47	(	(	PUNCT
dem-15805	79	48	table	table	NOUN
dem-15805	79	49	4	4	NUM
dem-15805	79	50	)	)	PUNCT
dem-15805	79	51	.	.	PUNCT
dem-15805	80	1	however	however	ADV
dem-15805	80	2	,	,	PUNCT
dem-15805	80	3	the	the	DET
dem-15805	80	4	null	null	ADJ
dem-15805	80	5	hypothesis	hypothesis	NOUN
dem-15805	80	6	is	be	AUX
dem-15805	80	7	rejected	reject	VERB
dem-15805	80	8	only	only	ADV
dem-15805	80	9	for	for	ADP
dem-15805	80	10	fio	fio	NOUN
dem-15805	80	11	credit	credit	NOUN
dem-15805	80	12	agricole	agricole	NOUN
dem-15805	80	13	(	(	PUNCT
dem-15805	80	14	significantly	significantly	ADV
dem-15805	80	15	positive	positive	ADJ
dem-15805	80	16	returns	return	NOUN
dem-15805	80	17	are	be	AUX
dem-15805	80	18	observed	observe	VERB
dem-15805	80	19	before	before	ADP
dem-15805	80	20	the	the	DET
dem-15805	80	21	election	election	NOUN
dem-15805	80	22	)	)	PUNCT
dem-15805	80	23	.	.	PUNCT
dem-15805	81	1	tabele	tabele	PROPN
dem-15805	81	2	5	5	X
dem-15805	81	3	.	.	PUNCT
dem-15805	82	1	values	value	NOUN
dem-15805	82	2	of	of	ADP
dem-15805	82	3	statistics	statistic	NOUN
dem-15805	82	4	(	(	PUNCT
dem-15805	82	5	1)–(3	1)–(3	NUM
dem-15805	82	6	)	)	PUNCT
dem-15805	82	7	verifying	verify	VERB
dem-15805	82	8	the	the	DET
dem-15805	82	9	hypothesis	hypothesis	NOUN
dem-15805	82	10	about	about	ADP
dem-15805	82	11	expected	expect	VERB
dem-15805	82	12	returns	return	NOUN
dem-15805	82	13	and	and	CCONJ
dem-15805	82	14	risk	risk	NOUN
dem-15805	82	15	in	in	ADP
dem-15805	82	16	considered	consider	VERB
dem-15805	82	17	periods	period	NOUN
dem-15805	82	18	e(rbefore	e(rbefore	NOUN
dem-15805	82	19	)	)	PUNCT
dem-15805	82	20	=	=	SYM
dem-15805	82	21	e(rafter	e(rafter	X
dem-15805	82	22	)	)	PUNCT
dem-15805	82	23	,	,	PUNCT
dem-15805	82	24	d	d	PROPN
dem-15805	82	25	2	2	NUM
dem-15805	82	26	(	(	PUNCT
dem-15805	82	27	rbefore	rbefore	NOUN
dem-15805	82	28	)	)	PUNCT
dem-15805	82	29	=	=	PUNCT
dem-15805	83	1	d	d	ADP
dem-15805	83	2	2	2	NUM
dem-15805	83	3	(	(	PUNCT
dem-15805	83	4	rafter	rafter	NOUN
dem-15805	83	5	)	)	PUNCT
dem-15805	83	6	period	period	NOUN
dem-15805	83	7	parameter	parameter	NOUN
dem-15805	83	8	formulas	formula	NOUN
dem-15805	83	9	no	no	INTJ
dem-15805	83	10	.	.	PUNCT
dem-15805	84	1	ca	can	AUX
dem-15805	84	2	kbc	kbc	PROPN
dem-15805	84	3	nn	nn	PROPN
dem-15805	84	4	pio	pio	PROPN
dem-15805	84	5	pzu	pzu	VERB
dem-15805	84	6	presidential	presidential	ADJ
dem-15805	84	7	elections	election	NOUN
dem-15805	84	8	,	,	PUNCT
dem-15805	84	9	the	the	DET
dem-15805	84	10	1st	1st	ADJ
dem-15805	84	11	round	round	NOUN
dem-15805	84	12	returns	return	NOUN
dem-15805	84	13	(	(	PUNCT
dem-15805	84	14	2	2	NUM
dem-15805	84	15	)	)	PUNCT
dem-15805	84	16	2.6162	2.6162	NUM
dem-15805	84	17	1.8575	1.8575	NUM
dem-15805	84	18	1.6271	1.6271	NUM
dem-15805	84	19	1.5188	1.5188	NUM
dem-15805	84	20	1.0643	1.0643	NUM
dem-15805	84	21	(	(	PUNCT
dem-15805	84	22	2	2	NUM
dem-15805	84	23	)	)	PUNCT
dem-15805	84	24	2.2442	2.2442	NUM
dem-15805	84	25	2.2198	2.2198	NUM
dem-15805	84	26	1.4018	1.4018	NUM
dem-15805	84	27	1.4663	1.4663	NUM
dem-15805	84	28	1.0493	1.0493	NUM
dem-15805	84	29	(	(	PUNCT
dem-15805	84	30	1	1	NUM
dem-15805	84	31	)	)	PUNCT
dem-15805	84	32	1.7034	1.7034	NUM
dem-15805	84	33	1.4246	1.4246	NUM
dem-15805	84	34	1.0620	1.0620	NUM
dem-15805	84	35	1.0549	1.0549	NUM
dem-15805	84	36	0.7472	0.7472	NUM
dem-15805	84	37	risk	risk	NOUN
dem-15805	84	38	(	(	PUNCT
dem-15805	84	39	3	3	NUM
dem-15805	84	40	)	)	PUNCT
dem-15805	84	41	1.3856	1.3856	NUM
dem-15805	84	42	1.4007	1.4007	NUM
dem-15805	84	43	1.3736	1.3736	NUM
dem-15805	84	44	1.0939	1.0939	NUM
dem-15805	84	45	1.0489	1.0489	NUM
dem-15805	84	46	presidential	presidential	ADJ
dem-15805	84	47	elections	election	NOUN
dem-15805	84	48	,	,	PUNCT
dem-15805	84	49	the	the	DET
dem-15805	84	50	2nd	2nd	ADJ
dem-15805	84	51	round	round	NOUN
dem-15805	84	52	returns	return	NOUN
dem-15805	84	53	(	(	PUNCT
dem-15805	84	54	2	2	NUM
dem-15805	84	55	)	)	PUNCT
dem-15805	84	56	2.3801	2.3801	NUM
dem-15805	84	57	1.6672	1.6672	NUM
dem-15805	84	58	1.5480	1.5480	NUM
dem-15805	84	59	1.5040	1.5040	NUM
dem-15805	84	60	1.0250	1.0250	NUM
dem-15805	84	61	(	(	PUNCT
dem-15805	84	62	2	2	NUM
dem-15805	84	63	)	)	PUNCT
dem-15805	84	64	1.9594	1.9594	NUM
dem-15805	84	65	1.9103	1.9103	NUM
dem-15805	84	66	1.2780	1.2780	NUM
dem-15805	84	67	1.3892	1.3892	NUM
dem-15805	84	68	0.9671	0.9671	NUM
dem-15805	84	69	(	(	PUNCT
dem-15805	84	70	1	1	NUM
dem-15805	84	71	)	)	PUNCT
dem-15805	84	72	1.5127	1.5127	NUM
dem-15805	84	73	1.2561	1.2561	NUM
dem-15805	84	74	0.9856	0.9856	NUM
dem-15805	84	75	1.0205	1.0205	NUM
dem-15805	84	76	0.7034	0.7034	NUM
dem-15805	84	77	risk	risk	NOUN
dem-15805	84	78	(	(	PUNCT
dem-15805	84	79	3	3	NUM
dem-15805	84	80	)	)	PUNCT
dem-15805	84	81	1.4333	1.4333	NUM
dem-15805	84	82	1.3515	1.3515	NUM
dem-15805	84	83	1.4252	1.4252	NUM
dem-15805	84	84	1.1386	1.1386	NUM
dem-15805	84	85	1.0912	1.0912	NUM
dem-15805	84	86	note	note	NOUN
dem-15805	84	87	:	:	PUNCT
dem-15805	84	88	bold	bold	ADJ
dem-15805	84	89	letters	letter	NOUN
dem-15805	84	90	denote	denote	VERB
dem-15805	84	91	rejection	rejection	NOUN
dem-15805	84	92	of	of	ADP
dem-15805	84	93	null	null	ADJ
dem-15805	84	94	hypothesis	hypothesis	NOUN
dem-15805	84	95	.	.	PUNCT
dem-15805	85	1	table	table	NOUN
dem-15805	85	2	6	6	NUM
dem-15805	85	3	.	.	PUNCT
dem-15805	86	1	parameter	parameter	NOUN
dem-15805	86	2	estimates	estimate	NOUN
dem-15805	86	3	and	and	CCONJ
dem-15805	86	4	determination	determination	NOUN
dem-15805	86	5	coefficients	coefficient	NOUN
dem-15805	86	6	of	of	ADP
dem-15805	86	7	sharpe	sharpe	NOUN
dem-15805	86	8	models	model	NOUN
dem-15805	86	9	before	before	ADP
dem-15805	86	10	after	after	ADP
dem-15805	86	11	before	before	ADV
dem-15805	86	12	after	after	ADP
dem-15805	86	13	the	the	DET
dem-15805	86	14	whole	whole	ADJ
dem-15805	86	15	period	period	NOUN
dem-15805	86	16	presidential	presidential	ADJ
dem-15805	86	17	elections	election	NOUN
dem-15805	86	18	,	,	PUNCT
dem-15805	86	19	the	the	DET
dem-15805	86	20	1st	1st	ADJ
dem-15805	86	21	round	round	ADJ
dem-15805	86	22	presidential	presidential	ADJ
dem-15805	86	23	elections	election	NOUN
dem-15805	86	24	,	,	PUNCT
dem-15805	86	25	the	the	DET
dem-15805	86	26	2nd	2nd	ADJ
dem-15805	86	27	round	round	NOUN
dem-15805	86	28	beta	beta	ADJ
dem-15805	86	29	alfa	alfa	NOUN
dem-15805	86	30	beta	beta	PROPN
dem-15805	86	31	alfa	alfa	PROPN
dem-15805	86	32	beta	beta	PROPN
dem-15805	86	33	alfa	alfa	PROPN
dem-15805	86	34	beta	beta	PROPN
dem-15805	86	35	alfa	alfa	PROPN
dem-15805	86	36	beta	beta	PROPN
dem-15805	86	37	alfa	alfa	PROPN
dem-15805	86	38	fio	fio	PROPN
dem-15805	86	39	credit	credit	NOUN
dem-15805	86	40	agricole	agricole	NOUN
dem-15805	86	41	0.2445	0.2445	NUM
dem-15805	86	42	0.0002	0.0002	NUM
dem-15805	86	43	0.2405	0.2405	NUM
dem-15805	86	44	0.0000	0.0000	NUM
dem-15805	86	45	0.2441	0.2441	NUM
dem-15805	87	1	0.0002	0.0002	NUM
dem-15805	87	2	0.2409	0.2409	NUM
dem-15805	87	3	0.0000	0.0000	NUM
dem-15805	87	4	0.2425	0.2425	NUM
dem-15805	87	5	0.0001	0.0001	NUM
dem-15805	87	6	r2	r2	NOUN
dem-15805	87	7	0.6230	0.6230	NUM
dem-15805	87	8	r2	r2	NOUN
dem-15805	87	9	0.6604	0.6604	NUM
dem-15805	87	10	r2	r2	NOUN
dem-15805	87	11	0.6176	0.6176	NUM
dem-15805	87	12	r2	r2	PROPN
dem-15805	87	13	0.6641	0.6641	NUM
dem-15805	87	14	r2	r2	PROPN
dem-15805	87	15	0.6446	0.6446	NUM
dem-15805	87	16	fio	fio	NOUN
dem-15805	87	17	pzu	pzu	VERB
dem-15805	87	18	0.4285	0.4285	NUM
dem-15805	87	19	0.0000	0.0000	NUM
dem-15805	87	20	0.3404	0.3404	NUM
dem-15805	87	21	0.0000	0.0000	NUM
dem-15805	87	22	0.4274	0.4274	NUM
dem-15805	87	23	0.0000	0.0000	NUM
dem-15805	87	24	0.3410	0.3410	NUM
dem-15805	87	25	0.0000	0.0000	NUM
dem-15805	87	26	0.3752	0.3752	NUM
dem-15805	87	27	0.0000	0.0000	NUM
dem-15805	87	28	r2	r2	NOUN
dem-15805	87	29	0.8493	0.8493	NUM
dem-15805	87	30	r2	r2	NOUN
dem-15805	87	31	0.7756	0.7756	NUM
dem-15805	87	32	r2	r2	PROPN
dem-15805	87	33	0.8444	0.8444	NUM
dem-15805	87	34	r2	r2	NOUN
dem-15805	87	35	0.7792	0.7792	NUM
dem-15805	87	36	r2	r2	PROPN
dem-15805	87	37	0.8010	0.8010	NUM
dem-15805	87	38	fio	fio	NOUN
dem-15805	87	39	pioneer	pioneer	NOUN
dem-15805	87	40	0.3892	0.3892	NUM
dem-15805	87	41	0.0000	0.0000	NUM
dem-15805	87	42	0.3347	0.3347	NUM
dem-15805	87	43	–	–	PUNCT
dem-15805	87	44	0.0001	0.0001	NUM
dem-15805	87	45	0.3887	0.3887	NUM
dem-15805	87	46	0.0000	0.0000	NUM
dem-15805	87	47	0.3349	0.3349	NUM
dem-15805	87	48	–	–	PUNCT
dem-15805	87	49	0.0001	0.0001	NUM
dem-15805	87	50	0.3563	0.3563	NUM
dem-15805	87	51	0.0000	0.0000	NUM
dem-15805	87	52	r2	r2	NOUN
dem-15805	87	53	0.8843	0.8843	NUM
dem-15805	87	54	r2	r2	NOUN
dem-15805	87	55	0.9078	0.9078	NUM
dem-15805	87	56	r2	r2	PROPN
dem-15805	87	57	0.8821	0.8821	NUM
dem-15805	87	58	r2	r2	NOUN
dem-15805	87	59	0.9098	0.9098	NUM
dem-15805	87	60	r2	r2	NOUN
dem-15805	87	61	0.8917	0.8917	NUM
dem-15805	87	62	fio	fio	NOUN
dem-15805	87	63	nationale	nationale	ADJ
dem-15805	87	64	-	-	PUNCT
dem-15805	87	65	nederlanden	nederlanden	ADJ
dem-15805	87	66	0.3323	0.3323	NUM
dem-15805	87	67	0.0001	0.0001	NUM
dem-15805	87	68	0.3240	0.3240	NUM
dem-15805	87	69	0.0000	0.0000	NUM
dem-15805	87	70	0.3324	0.3324	NUM
dem-15805	87	71	0.0001	0.0001	NUM
dem-15805	87	72	0.3240	0.3240	NUM
dem-15805	87	73	0.0000	0.0000	NUM
dem-15805	87	74	0.3274	0.3274	NUM
dem-15805	87	75	0.0001	0.0001	NUM
dem-15805	87	76	r2	r2	NOUN
dem-15805	87	77	0.8672	0.8672	NUM
dem-15805	87	78	r2	r2	NOUN
dem-15805	87	79	0.9107	0.9107	NUM
dem-15805	87	80	r2	r2	NOUN
dem-15805	87	81	0.8651	0.8651	NUM
dem-15805	87	82	r2	r2	NOUN
dem-15805	87	83	0.9125	0.9125	NUM
dem-15805	87	84	r2	r2	NOUN
dem-15805	87	85	0.8924	0.8924	NUM
dem-15805	87	86	fio	fio	NOUN
dem-15805	87	87	kbc	kbc	PROPN
dem-15805	87	88	0.4163	0.4163	NUM
dem-15805	87	89	0.0002	0.0002	NUM
dem-15805	87	90	0.2730	0.2730	NUM
dem-15805	87	91	0.0000	0.0000	NUM
dem-15805	87	92	0.4159	0.4159	NUM
dem-15805	87	93	0.0001	0.0001	NUM
dem-15805	87	94	0.2732	0.2732	NUM
dem-15805	87	95	0.0000	0.0000	NUM
dem-15805	87	96	0.3300	0.3300	NUM
dem-15805	87	97	0.0001	0.0001	NUM
dem-15805	87	98	r2	r2	NOUN
dem-15805	87	99	0.7786	0.7786	NUM
dem-15805	87	100	r2	r2	NOUN
dem-15805	87	101	0.7118	0.7118	NUM
dem-15805	87	102	r2	r2	NOUN
dem-15805	87	103	0.7748	0.7748	NUM
dem-15805	87	104	r2	r2	NOUN
dem-15805	87	105	0.7153	0.7153	NUM
dem-15805	87	106	r2	r2	NOUN
dem-15805	87	107	0.7181	0.7181	NUM
dem-15805	87	108	note	note	NOUN
dem-15805	87	109	:	:	PUNCT
dem-15805	87	110	bold	bold	ADJ
dem-15805	87	111	letters	letter	NOUN
dem-15805	87	112	denote	denote	VERB
dem-15805	87	113	statistically	statistically	ADV
dem-15805	87	114	significant	significant	ADJ
dem-15805	87	115	.	.	PUNCT
dem-15805	88	1	the	the	DET
dem-15805	88	2	better	well	ADJ
dem-15805	88	3	performance	performance	NOUN
dem-15805	88	4	of	of	ADP
dem-15805	88	5	analyzed	analyze	VERB
dem-15805	88	6	funds	fund	NOUN
dem-15805	88	7	before	before	SCONJ
dem-15805	88	8	the	the	DET
dem-15805	88	9	election	election	NOUN
dem-15805	88	10	is	be	AUX
dem-15805	88	11	also	also	ADV
dem-15805	88	12	proved	prove	VERB
dem-15805	88	13	by	by	ADP
dem-15805	88	14	the	the	DET
dem-15805	88	15	results	result	NOUN
dem-15805	88	16	presented	present	VERB
dem-15805	88	17	in	in	ADP
dem-15805	88	18	table	table	NOUN
dem-15805	88	19	5	5	NUM
dem-15805	88	20	.	.	PUNCT
dem-15805	89	1	as	as	SCONJ
dem-15805	89	2	one	one	PRON
dem-15805	89	3	can	can	AUX
dem-15805	89	4	see	see	VERB
dem-15805	89	5	,	,	PUNCT
dem-15805	89	6	better	well	ADJ
dem-15805	89	7	performance	performance	NOUN
dem-15805	89	8	before	before	SCONJ
dem-15805	89	9	the	the	DET
dem-15805	89	10	election	election	NOUN
dem-15805	89	11	was	be	AUX
dem-15805	89	12	visible	visible	ADJ
dem-15805	89	13	for	for	ADP
dem-15805	89	14	fio	fio	NOUN
dem-15805	89	15	credit	credit	NOUN
dem-15805	89	16	agricole	agricole	NOUN
dem-15805	89	17	and	and	CCONJ
dem-15805	89	18	fio	fio	PROPN
dem-15805	89	19	kbc	kbc	PROPN
dem-15805	89	20	.	.	PUNCT
dem-15805	90	1	fio	fio	PROPN
dem-15805	90	2	credit	credit	NOUN
dem-15805	90	3	agricole	agricole	NOUN
dem-15805	90	4	and	and	CCONJ
dem-15805	90	5	fio	fio	NOUN
dem-15805	90	6	nationale	nationale	ADJ
dem-15805	90	7	-	-	PUNCT
dem-15805	90	8	nederlanden	nederlanden	ADJ
dem-15805	90	9	were	be	AUX
dem-15805	90	10	characterized	characterize	VERB
dem-15805	90	11	by	by	ADP
dem-15805	90	12	significantly	significantly	ADV
dem-15805	90	13	smaller	small	ADJ
dem-15805	90	14	risk	risk	NOUN
dem-15805	90	15	before	before	ADP
dem-15805	90	16	election	election	NOUN
dem-15805	90	17	however	however	ADV
dem-15805	90	18	fio	fio	PROPN
dem-15805	90	19	kbc	kbc	PROPN
dem-15805	90	20	generated	generate	VERB
dem-15805	90	21	rehow	rehow	ADP
dem-15805	90	22	the	the	DET
dem-15805	90	23	change	change	NOUN
dem-15805	90	24	of	of	ADP
dem-15805	90	25	governing	govern	VERB
dem-15805	90	26	party	party	NOUN
dem-15805	90	27	influences	influence	VERB
dem-15805	90	28	the	the	DET
dem-15805	90	29	efficiency	efficiency	NOUN
dem-15805	90	30	of	of	ADP
dem-15805	90	31	financial	financial	ADJ
dem-15805	90	32	market	market	NOUN
dem-15805	90	33	…	…	PUNCT
dem-15805	90	34	dynamic	dynamic	ADJ
dem-15805	90	35	econometric	econometric	ADJ
dem-15805	90	36	models	model	NOUN
dem-15805	90	37	17	17	NUM
dem-15805	90	38	(	(	PUNCT
dem-15805	90	39	2017	2017	NUM
dem-15805	90	40	)	)	PUNCT
dem-15805	90	41	147–159	147–159	NUM
dem-15805	90	42	155	155	NUM
dem-15805	90	43	turns	turn	NOUN
dem-15805	90	44	with	with	ADP
dem-15805	90	45	smaller	small	ADJ
dem-15805	90	46	volatility	volatility	NOUN
dem-15805	90	47	after	after	ADP
dem-15805	90	48	the	the	DET
dem-15805	90	49	election	election	NOUN
dem-15805	90	50	.	.	PUNCT
dem-15805	91	1	null	null	ADJ
dem-15805	91	2	hypotheses	hypothesis	NOUN
dem-15805	91	3	are	be	AUX
dem-15805	91	4	not	not	PART
dem-15805	91	5	rejected	reject	VERB
dem-15805	91	6	for	for	ADP
dem-15805	91	7	fio	fio	NOUN
dem-15805	91	8	pioneer	pioneer	NOUN
dem-15805	91	9	,	,	PUNCT
dem-15805	91	10	fio	fio	PROPN
dem-15805	91	11	pzu	pzu	PROPN
dem-15805	91	12	and	and	CCONJ
dem-15805	91	13	fio	fio	NOUN
dem-15805	91	14	nationale	nationale	ADJ
dem-15805	91	15	-	-	PUNCT
dem-15805	91	16	nederlanden	nederlanden	ADJ
dem-15805	91	17	.	.	PUNCT
dem-15805	92	1	beta	beta	ADJ
dem-15805	92	2	parameters	parameter	NOUN
dem-15805	92	3	in	in	ADP
dem-15805	92	4	the	the	DET
dem-15805	92	5	single	single	ADJ
dem-15805	92	6	index	index	NOUN
dem-15805	92	7	models	model	NOUN
dem-15805	92	8	and	and	CCONJ
dem-15805	92	9	capm	capm	NOUN
dem-15805	92	10	are	be	AUX
dem-15805	92	11	significantly	significantly	ADV
dem-15805	92	12	positive	positive	ADJ
dem-15805	92	13	however	however	ADV
dem-15805	92	14	the	the	DET
dem-15805	92	15	values	value	NOUN
dem-15805	92	16	of	of	ADP
dem-15805	92	17			NOUN
dem-15805	92	18	parameter	parameter	NOUN
dem-15805	92	19	estimates	estimate	NOUN
dem-15805	92	20	are	be	AUX
dem-15805	92	21	rather	rather	ADV
dem-15805	92	22	small	small	ADJ
dem-15805	92	23	(	(	PUNCT
dem-15805	92	24	tables	table	NOUN
dem-15805	92	25	6–7	6–7	NUM
dem-15805	92	26	)	)	PUNCT
dem-15805	92	27	.	.	PUNCT
dem-15805	93	1	that	that	PRON
dem-15805	93	2	is	be	AUX
dem-15805	93	3	connected	connect	VERB
dem-15805	93	4	with	with	ADP
dem-15805	93	5	the	the	DET
dem-15805	93	6	fact	fact	NOUN
dem-15805	93	7	that	that	SCONJ
dem-15805	93	8	portfolios	portfolio	NOUN
dem-15805	93	9	of	of	ADP
dem-15805	93	10	stable	stable	ADJ
dem-15805	93	11	growth	growth	NOUN
dem-15805	93	12	mutual	mutual	ADJ
dem-15805	93	13	funds	fund	NOUN
dem-15805	93	14	contain	contain	VERB
dem-15805	93	15	a	a	DET
dem-15805	93	16	great	great	ADJ
dem-15805	93	17	share	share	NOUN
dem-15805	93	18	of	of	ADP
dem-15805	93	19	bonds	bond	NOUN
dem-15805	93	20	.	.	PUNCT
dem-15805	94	1	at	at	ADP
dem-15805	94	2	the	the	DET
dem-15805	94	3	end	end	NOUN
dem-15805	94	4	of	of	ADP
dem-15805	94	5	january	january	PROPN
dem-15805	94	6	2017	2017	NUM
dem-15805	94	7	,	,	PUNCT
dem-15805	94	8	credit	credit	NOUN
dem-15805	94	9	agricole	agricole	NOUN
dem-15805	94	10	stable	stable	ADJ
dem-15805	94	11	growth	growth	NOUN
dem-15805	94	12	fund	fund	PROPN
dem-15805	94	13	’s	’s	PART
dem-15805	94	14	portfolio	portfolio	NOUN
dem-15805	94	15	contains	contain	VERB
dem-15805	94	16	only	only	ADV
dem-15805	94	17	25	25	NUM
dem-15805	94	18	%	%	NOUN
dem-15805	94	19	of	of	ADP
dem-15805	94	20	equity	equity	NOUN
dem-15805	94	21	,	,	PUNCT
dem-15805	94	22	fio	fio	PROPN
dem-15805	94	23	pzu	pzu	NOUN
dem-15805	94	24	–	–	PUNCT
dem-15805	94	25	30.3	30.3	NUM
dem-15805	94	26	%	%	NOUN
dem-15805	94	27	,	,	PUNCT
dem-15805	94	28	fio	fio	PROPN
dem-15805	94	29	pioneer	pioneer	NOUN
dem-15805	94	30	–	–	PUNCT
dem-15805	94	31	29.3	29.3	NUM
dem-15805	94	32	%	%	NOUN
dem-15805	94	33	,	,	PUNCT
dem-15805	94	34	fio	fio	PROPN
dem-15805	94	35	nationale	nationale	ADJ
dem-15805	94	36	-	-	PUNCT
dem-15805	94	37	nederlanden	nederlanden	ADJ
dem-15805	94	38	–	–	PUNCT
dem-15805	94	39	35.3	35.3	NUM
dem-15805	94	40	%	%	NOUN
dem-15805	94	41	and	and	CCONJ
dem-15805	94	42	fio	fio	PROPN
dem-15805	94	43	kbc	kbc	PROPN
dem-15805	94	44	–	–	PUNCT
dem-15805	94	45	38.2	38.2	NUM
dem-15805	94	46	%	%	NOUN
dem-15805	94	47	.	.	PUNCT
dem-15805	95	1	the	the	DET
dem-15805	95	2	structure	structure	NOUN
dem-15805	95	3	of	of	ADP
dem-15805	95	4	the	the	DET
dem-15805	95	5	investment	investment	NOUN
dem-15805	95	6	funds	fund	NOUN
dem-15805	95	7	’	'	PUNCT
dem-15805	95	8	portfolios	portfolio	NOUN
dem-15805	95	9	is	be	AUX
dem-15805	95	10	also	also	ADV
dem-15805	95	11	visible	visible	ADJ
dem-15805	95	12	when	when	SCONJ
dem-15805	95	13	beta	beta	ADJ
dem-15805	95	14	parameter	parameter	NOUN
dem-15805	95	15	estimates	estimate	NOUN
dem-15805	95	16	are	be	AUX
dem-15805	95	17	analyzed	analyze	VERB
dem-15805	95	18	since	since	SCONJ
dem-15805	95	19	the	the	DET
dem-15805	95	20	biggest	big	ADJ
dem-15805	95	21	value	value	NOUN
dem-15805	95	22	is	be	AUX
dem-15805	95	23	observed	observe	VERB
dem-15805	95	24	for	for	ADP
dem-15805	95	25	fio	fio	NOUN
dem-15805	95	26	pzu	pzu	PROPN
dem-15805	95	27	and	and	CCONJ
dem-15805	95	28	kbc	kbc	PROPN
dem-15805	95	29	while	while	SCONJ
dem-15805	95	30	the	the	DET
dem-15805	95	31	smallest	small	ADJ
dem-15805	95	32	for	for	ADP
dem-15805	95	33	fio	fio	NOUN
dem-15805	95	34	credit	credit	NOUN
dem-15805	95	35	agricole	agricole	NOUN
dem-15805	95	36	.	.	PUNCT
dem-15805	96	1	table	table	NOUN
dem-15805	96	2	7	7	NUM
dem-15805	96	3	.	.	PUNCT
dem-15805	97	1	parameter	parameter	NOUN
dem-15805	97	2	estimates	estimate	NOUN
dem-15805	97	3	and	and	CCONJ
dem-15805	97	4	determination	determination	NOUN
dem-15805	97	5	coefficients	coefficient	NOUN
dem-15805	97	6	of	of	ADP
dem-15805	97	7	capm	capm	PROPN
dem-15805	97	8	before	before	ADV
dem-15805	97	9	after	after	ADP
dem-15805	97	10	before	before	ADV
dem-15805	97	11	after	after	ADP
dem-15805	97	12	the	the	DET
dem-15805	97	13	whole	whole	ADJ
dem-15805	97	14	period	period	NOUN
dem-15805	97	15	presidential	presidential	ADJ
dem-15805	97	16	elections	election	NOUN
dem-15805	97	17	,	,	PUNCT
dem-15805	97	18	the	the	DET
dem-15805	97	19	1st	1st	ADJ
dem-15805	97	20	round	round	ADJ
dem-15805	97	21	presidential	presidential	ADJ
dem-15805	97	22	elections	election	NOUN
dem-15805	97	23	,	,	PUNCT
dem-15805	97	24	the	the	DET
dem-15805	97	25	2nd	2nd	ADJ
dem-15805	97	26	round	round	NOUN
dem-15805	97	27	beta	beta	ADJ
dem-15805	97	28	alfa	alfa	NOUN
dem-15805	97	29	beta	beta	PROPN
dem-15805	97	30	alfa	alfa	PROPN
dem-15805	97	31	beta	beta	PROPN
dem-15805	97	32	alfa	alfa	PROPN
dem-15805	97	33	beta	beta	PROPN
dem-15805	97	34	alfa	alfa	PROPN
dem-15805	97	35	beta	beta	PROPN
dem-15805	97	36	alfa	alfa	PROPN
dem-15805	97	37	fio	fio	PROPN
dem-15805	97	38	credit	credit	NOUN
dem-15805	97	39	agricole	agricole	NOUN
dem-15805	97	40	0.2171	0.2171	NUM
dem-15805	98	1	0.0000	0.0000	NUM
dem-15805	98	2	0.2072	0.2072	NUM
dem-15805	98	3	0.0000	0.0000	NUM
dem-15805	98	4	0.2168	0.2168	NUM
dem-15805	98	5	0.0000	0.0000	NUM
dem-15805	98	6	0.2074	0.2074	NUM
dem-15805	98	7	0.0000	0.0000	NUM
dem-15805	98	8	0.2112	0.2112	NUM
dem-15805	98	9	0.0000	0.0000	NUM
dem-15805	98	10	r2	r2	NOUN
dem-15805	98	11	0.8023	0.8023	NUM
dem-15805	98	12	r2	r2	NOUN
dem-15805	98	13	0.7528	0.7528	NUM
dem-15805	98	14	r2	r2	NOUN
dem-15805	98	15	0.7998	0.7998	NUM
dem-15805	98	16	r2	r2	NOUN
dem-15805	98	17	0.7543	0.7543	NUM
dem-15805	98	18	r2	r2	NOUN
dem-15805	98	19	0.7727	0.7727	NUM
dem-15805	98	20	fio	fio	NOUN
dem-15805	98	21	pzu	pzu	NOUN
dem-15805	98	22	0.4054	0.4054	NUM
dem-15805	98	23	–	–	PUNCT
dem-15805	98	24	0.0002	0.0002	NUM
dem-15805	98	25	0.3103	0.3103	NUM
dem-15805	98	26	–	–	PUNCT
dem-15805	98	27	0.0001	0.0001	NUM
dem-15805	98	28	0.4042	0.4042	NUM
dem-15805	98	29	–	–	PUNCT
dem-15805	98	30	0.0002	0.0002	NUM
dem-15805	98	31	0.3109	0.3109	NUM
dem-15805	98	32	–	–	PUNCT
dem-15805	98	33	0.0001	0.0001	NUM
dem-15805	98	34	0.3485	0.3485	NUM
dem-15805	98	35	–	–	PUNCT
dem-15805	98	36	0.0001	0.0001	NUM
dem-15805	98	37	r2	r2	NOUN
dem-15805	98	38	0.9109	0.9109	NUM
dem-15805	98	39	r2	r2	NOUN
dem-15805	98	40	0.8216	0.8216	NUM
dem-15805	98	41	r2	r2	NOUN
dem-15805	98	42	0.9079	0.9079	NUM
dem-15805	98	43	r2	r2	PROPN
dem-15805	98	44	0.8232	0.8232	NUM
dem-15805	98	45	r2	r2	PROPN
dem-15805	98	46	0.8514	0.8514	NUM
dem-15805	98	47	fio	fio	NOUN
dem-15805	98	48	pioneer	pioneer	NOUN
dem-15805	98	49	0.3754	0.3754	NUM
dem-15805	98	50	–	–	PUNCT
dem-15805	98	51	0.0002	0.0002	NUM
dem-15805	98	52	0.3121	0.3121	NUM
dem-15805	98	53	–	–	PUNCT
dem-15805	98	54	0.0001	0.0001	NUM
dem-15805	98	55	0.3752	0.3752	NUM
dem-15805	98	56	–	–	PUNCT
dem-15805	98	57	0.0002	0.0002	NUM
dem-15805	98	58	0.3121	0.3121	NUM
dem-15805	98	59	–	–	PUNCT
dem-15805	98	60	0.0001	0.0001	NUM
dem-15805	98	61	0.3375	0.3375	NUM
dem-15805	98	62	–	–	PUNCT
dem-15805	98	63	0.0001	0.0001	NUM
dem-15805	98	64	r2	r2	NOUN
dem-15805	98	65	0.9083	0.9083	NUM
dem-15805	98	66	r2	r2	PROPN
dem-15805	98	67	0.9258	0.9258	NUM
dem-15805	98	68	r2	r2	PROPN
dem-15805	98	69	0.9069	0.9069	NUM
dem-15805	98	70	r2	r2	PROPN
dem-15805	98	71	0.9262	0.9262	NUM
dem-15805	98	72	r2	r2	NOUN
dem-15805	98	73	0.9088	0.9088	NUM
dem-15805	98	74	fio	fio	NOUN
dem-15805	98	75	nationale	nationale	ADJ
dem-15805	98	76	-	-	PUNCT
dem-15805	98	77	nederlanden	nederlanden	ADJ
dem-15805	98	78	0.3166	0.3166	NUM
dem-15805	98	79	–	–	PUNCT
dem-15805	98	80	0.0001	0.0001	NUM
dem-15805	98	81	0.3012	0.3012	NUM
dem-15805	98	82	0.0000	0.0000	NUM
dem-15805	98	83	0.3169	0.3169	NUM
dem-15805	98	84	–	–	PUNCT
dem-15805	98	85	0.0001	0.0001	NUM
dem-15805	98	86	0.3010	0.3010	NUM
dem-15805	98	87	0.0000	0.0000	NUM
dem-15805	98	88	0.3073	0.3073	NUM
dem-15805	98	89	–	–	PUNCT
dem-15805	98	90	0.0001	0.0001	NUM
dem-15805	98	91	r2	r2	NOUN
dem-15805	98	92	0.9173	0.9173	NUM
dem-15805	98	93	r2	r2	PROPN
dem-15805	98	94	0.9302	0.9302	NUM
dem-15805	98	95	r2	r2	PROPN
dem-15805	98	96	0.9161	0.9161	NUM
dem-15805	98	97	r2	r2	PROPN
dem-15805	98	98	0.9305	0.9305	NUM
dem-15805	98	99	r2	r2	PROPN
dem-15805	98	100	0.9235	0.9235	NUM
dem-15805	98	101	fio	fio	NOUN
dem-15805	98	102	kbc	kbc	PROPN
dem-15805	98	103	0.3885	0.3885	NUM
dem-15805	98	104	0.0000	0.0000	NUM
dem-15805	98	105	0.2474	0.2474	NUM
dem-15805	98	106	0.0000	0.0000	NUM
dem-15805	98	107	0.3879	0.3879	NUM
dem-15805	98	108	0.0000	0.0000	NUM
dem-15805	98	109	0.2475	0.2475	NUM
dem-15805	98	110	0.0000	0.0000	NUM
dem-15805	98	111	0.3042	0.3042	NUM
dem-15805	98	112	0.0000	0.0000	NUM
dem-15805	98	113	r2	r2	NOUN
dem-15805	98	114	0.8464	0.8464	NUM
dem-15805	98	115	r2	r2	NOUN
dem-15805	98	116	0.7054	0.7054	NUM
dem-15805	98	117	r2	r2	PROPN
dem-15805	98	118	0.8445	0.8445	NUM
dem-15805	98	119	r2	r2	NOUN
dem-15805	98	120	0.7068	0.7068	NUM
dem-15805	98	121	r2	r2	NOUN
dem-15805	98	122	0.7486	0.7486	NUM
dem-15805	98	123	note	note	NOUN
dem-15805	98	124	:	:	PUNCT
dem-15805	98	125	bold	bold	ADJ
dem-15805	98	126	letters	letter	NOUN
dem-15805	98	127	denote	denote	VERB
dem-15805	98	128	statistically	statistically	ADV
dem-15805	98	129	significant	significant	ADJ
dem-15805	98	130	parameters	parameter	NOUN
dem-15805	98	131	.	.	PUNCT
dem-15805	99	1	value	value	NOUN
dem-15805	99	2	and	and	CCONJ
dem-15805	99	3	significance	significance	NOUN
dem-15805	99	4	of	of	ADP
dem-15805	99	5	the	the	DET
dem-15805	99	6	alpha	alpha	NOUN
dem-15805	99	7	parameter	parameter	NOUN
dem-15805	99	8	is	be	AUX
dem-15805	99	9	important	important	ADJ
dem-15805	99	10	when	when	SCONJ
dem-15805	99	11	capital	capital	NOUN
dem-15805	99	12	assets	asset	NOUN
dem-15805	99	13	pricing	pricing	NOUN
dem-15805	99	14	models	model	NOUN
dem-15805	99	15	are	be	AUX
dem-15805	99	16	taken	take	VERB
dem-15805	99	17	into	into	ADP
dem-15805	99	18	consideration	consideration	NOUN
dem-15805	99	19	since	since	SCONJ
dem-15805	99	20	this	this	DET
dem-15805	99	21	parameter	parameter	NOUN
dem-15805	99	22	is	be	AUX
dem-15805	99	23	an	an	DET
dem-15805	99	24	efficiency	efficiency	NOUN
dem-15805	99	25	measure	measure	NOUN
dem-15805	99	26	i.e.	i.e.	X
dem-15805	99	27	jensen	jensen	PROPN
dem-15805	99	28	ratio	ratio	NOUN
dem-15805	99	29	.	.	PUNCT
dem-15805	100	1	in	in	ADP
dem-15805	100	2	estimated	estimate	VERB
dem-15805	100	3	models	model	NOUN
dem-15805	100	4	,	,	PUNCT
dem-15805	100	5	none	none	NOUN
dem-15805	100	6	of	of	ADP
dem-15805	100	7	alphas	alpha	NOUN
dem-15805	100	8	is	be	AUX
dem-15805	100	9	significantly	significantly	ADV
dem-15805	100	10	positive	positive	ADJ
dem-15805	100	11	(	(	PUNCT
dem-15805	100	12	table	table	NOUN
dem-15805	100	13	7	7	NUM
dem-15805	100	14	)	)	PUNCT
dem-15805	100	15	.	.	PUNCT
dem-15805	101	1	the	the	DET
dem-15805	101	2	best	good	ADJ
dem-15805	101	3	portfolio	portfolio	NOUN
dem-15805	101	4	management	management	NOUN
dem-15805	101	5	can	can	AUX
dem-15805	101	6	be	be	AUX
dem-15805	101	7	noticed	notice	VERB
dem-15805	101	8	for	for	ADP
dem-15805	101	9	fio	fio	PROPN
dem-15805	101	10	credit	credit	NOUN
dem-15805	101	11	agricole	agricole	NOUN
dem-15805	101	12	and	and	CCONJ
dem-15805	101	13	kbc	kbc	PROPN
dem-15805	101	14	since	since	SCONJ
dem-15805	101	15	alphas	alpha	NOUN
dem-15805	101	16	equaled	equal	VERB
dem-15805	101	17	zero	zero	NUM
dem-15805	101	18	.	.	PUNCT
dem-15805	102	1	for	for	ADP
dem-15805	102	2	the	the	DET
dem-15805	102	3	rest	rest	NOUN
dem-15805	102	4	of	of	ADP
dem-15805	102	5	funds	fund	NOUN
dem-15805	102	6	jensen	jensen	PROPN
dem-15805	102	7	ratios	ratio	NOUN
dem-15805	102	8	were	be	AUX
dem-15805	102	9	significantly	significantly	ADV
dem-15805	102	10	negative	negative	ADJ
dem-15805	102	11	at	at	ADP
dem-15805	102	12	least	least	ADJ
dem-15805	102	13	in	in	ADP
dem-15805	102	14	the	the	DET
dem-15805	102	15	periods	period	NOUN
dem-15805	102	16	before	before	ADP
dem-15805	102	17	election	election	NOUN
dem-15805	102	18	and	and	CCONJ
dem-15805	102	19	for	for	ADP
dem-15805	102	20	the	the	DET
dem-15805	102	21	whole	whole	ADJ
dem-15805	102	22	period	period	NOUN
dem-15805	102	23	,	,	PUNCT
dem-15805	102	24	it	it	PRON
dem-15805	102	25	means	mean	VERB
dem-15805	102	26	that	that	SCONJ
dem-15805	102	27	the	the	DET
dem-15805	102	28	mutual	mutual	ADJ
dem-15805	102	29	fund	fund	NOUN
dem-15805	102	30	mandorota	mandorota	PROPN
dem-15805	102	31	witkowska	witkowska	PROPN
dem-15805	102	32	,	,	PUNCT
dem-15805	102	33	krzysztof	krzysztof	PROPN
dem-15805	102	34	kompa	kompa	VERB
dem-15805	102	35	dynamic	dynamic	ADJ
dem-15805	102	36	econometric	econometric	ADJ
dem-15805	102	37	models	model	NOUN
dem-15805	102	38	17	17	NUM
dem-15805	102	39	(	(	PUNCT
dem-15805	102	40	2017	2017	NUM
dem-15805	102	41	)	)	PUNCT
dem-15805	102	42	147–159	147–159	NUM
dem-15805	102	43	156	156	NUM
dem-15805	102	44	agers	ager	NOUN
dem-15805	102	45	did	do	AUX
dem-15805	102	46	not	not	PART
dem-15805	102	47	earned	earn	VERB
dem-15805	102	48	enough	enough	ADJ
dem-15805	102	49	return	return	NOUN
dem-15805	102	50	given	give	VERB
dem-15805	102	51	the	the	DET
dem-15805	102	52	amount	amount	NOUN
dem-15805	102	53	of	of	ADP
dem-15805	102	54	risk	risk	NOUN
dem-15805	102	55	they	they	PRON
dem-15805	102	56	were	be	AUX
dem-15805	102	57	taking	take	VERB
dem-15805	102	58	.	.	PUNCT
dem-15805	103	1	in	in	ADP
dem-15805	103	2	the	the	DET
dem-15805	103	3	next	next	ADJ
dem-15805	103	4	step	step	NOUN
dem-15805	103	5	,	,	PUNCT
dem-15805	103	6	we	we	PRON
dem-15805	103	7	compare	compare	VERB
dem-15805	103	8	betas	beta	NOUN
dem-15805	103	9	from	from	ADP
dem-15805	103	10	the	the	DET
dem-15805	103	11	models	model	NOUN
dem-15805	103	12	estimated	estimate	VERB
dem-15805	103	13	before	before	ADV
dem-15805	103	14	and	and	CCONJ
dem-15805	103	15	after	after	ADP
dem-15805	103	16	both	both	DET
dem-15805	103	17	rounds	round	NOUN
dem-15805	103	18	of	of	ADP
dem-15805	103	19	the	the	DET
dem-15805	103	20	presidential	presidential	ADJ
dem-15805	103	21	election	election	NOUN
dem-15805	103	22	(	(	PUNCT
dem-15805	103	23	table	table	NOUN
dem-15805	103	24	8)	8)	NUM
dem-15805	103	25	.	.	PUNCT
dem-15805	104	1	since	since	SCONJ
dem-15805	104	2	a	a	DET
dem-15805	104	3	positive	positive	ADJ
dem-15805	104	4	value	value	NOUN
dem-15805	104	5	of	of	ADP
dem-15805	104	6	the	the	DET
dem-15805	104	7	test	test	NOUN
dem-15805	104	8	statistics	statistic	NOUN
dem-15805	104	9	means	mean	VERB
dem-15805	104	10	that	that	SCONJ
dem-15805	104	11	before	before	ADP
dem-15805	104	12	the	the	DET
dem-15805	104	13	election	election	NOUN
dem-15805	104	14	the	the	DET
dem-15805	104	15	parameter	parameter	NOUN
dem-15805	104	16	was	be	AUX
dem-15805	104	17	bigger	big	ADJ
dem-15805	104	18	than	than	ADP
dem-15805	104	19	after	after	ADP
dem-15805	104	20	the	the	DET
dem-15805	104	21	election	election	NOUN
dem-15805	104	22	,	,	PUNCT
dem-15805	104	23	it	it	PRON
dem-15805	104	24	is	be	AUX
dem-15805	104	25	visible	visible	ADJ
dem-15805	104	26	that	that	SCONJ
dem-15805	104	27	the	the	DET
dem-15805	104	28	risk	risk	NOUN
dem-15805	104	29	,	,	PUNCT
dem-15805	104	30	measured	measure	VERB
dem-15805	104	31	by	by	ADP
dem-15805	104	32	beta	beta	NOUN
dem-15805	104	33	,	,	PUNCT
dem-15805	104	34	significantly	significantly	ADV
dem-15805	104	35	lowered	lower	VERB
dem-15805	104	36	after	after	ADP
dem-15805	104	37	the	the	DET
dem-15805	104	38	election	election	NOUN
dem-15805	104	39	for	for	ADP
dem-15805	104	40	all	all	DET
dem-15805	104	41	mutual	mutual	ADJ
dem-15805	104	42	funds	fund	NOUN
dem-15805	104	43	but	but	CCONJ
dem-15805	104	44	fio	fio	NOUN
dem-15805	104	45	credit	credit	NOUN
dem-15805	104	46	agricole	agricole	NOUN
dem-15805	104	47	.	.	PUNCT
dem-15805	105	1	taking	take	VERB
dem-15805	105	2	into	into	ADP
dem-15805	105	3	account	account	NOUN
dem-15805	105	4	the	the	DET
dem-15805	105	5	quality	quality	NOUN
dem-15805	105	6	of	of	ADP
dem-15805	105	7	management	management	NOUN
dem-15805	105	8	,	,	PUNCT
dem-15805	105	9	we	we	PRON
dem-15805	105	10	notice	notice	VERB
dem-15805	105	11	that	that	SCONJ
dem-15805	105	12	it	it	PRON
dem-15805	105	13	was	be	AUX
dem-15805	105	14	significantly	significantly	ADV
dem-15805	105	15	improved	improve	VERB
dem-15805	105	16	after	after	ADP
dem-15805	105	17	the	the	DET
dem-15805	105	18	election	election	NOUN
dem-15805	105	19	by	by	ADP
dem-15805	105	20	fio	fio	NOUN
dem-15805	105	21	pzu	pzu	PROPN
dem-15805	105	22	and	and	CCONJ
dem-15805	105	23	fio	fio	NOUN
dem-15805	105	24	nationale	nationale	NOUN
dem-15805	105	25	-	-	PUNCT
dem-15805	105	26	nederlanden	nederlanden	ADJ
dem-15805	105	27	,	,	PUNCT
dem-15805	105	28	however	however	ADV
dem-15805	105	29	one	one	PRON
dem-15805	105	30	must	must	AUX
dem-15805	105	31	realize	realize	VERB
dem-15805	105	32	that	that	SCONJ
dem-15805	105	33	jensen	jensen	PROPN
dem-15805	105	34	alphas	alpha	NOUN
dem-15805	105	35	remained	remain	VERB
dem-15805	105	36	negative	negative	ADJ
dem-15805	105	37	.	.	PUNCT
dem-15805	106	1	table	table	NOUN
dem-15805	106	2	8	8	NUM
dem-15805	106	3	.	.	PUNCT
dem-15805	106	4	value	value	NOUN
dem-15805	106	5	of	of	ADP
dem-15805	106	6	statistics	statistic	NOUN
dem-15805	106	7	comparing	compare	VERB
dem-15805	106	8	betas	beta	NOUN
dem-15805	106	9	estimated	estimate	VERB
dem-15805	106	10	in	in	ADP
dem-15805	106	11	both	both	DET
dem-15805	106	12	periods	periods	PROPN
dem-15805	106	13	h0	h0	NOUN
dem-15805	106	14	:	:	PUNCT
dem-15805	106	15	before	before	ADJ
dem-15805	106	16	=	=	PUNCT
dem-15805	106	17	after	after	VERB
dem-15805	106	18	funds	fund	NOUN
dem-15805	106	19	period	period	NOUN
dem-15805	106	20	sharpe	sharpe	PROPN
dem-15805	106	21	beta	beta	PROPN
dem-15805	106	22	capm	capm	PROPN
dem-15805	106	23	beta	beta	PROPN
dem-15805	106	24	capm	capm	PROPN
dem-15805	107	1	alpha	alpha	PROPN
dem-15805	107	2	t1	t1	PROPN
dem-15805	107	3	t2	t2	PROPN
dem-15805	107	4	t1	t1	PROPN
dem-15805	107	5	t2	t2	PROPN
dem-15805	107	6	t1	t1	NOUN
dem-15805	107	7	t2	t2	PROPN
dem-15805	107	8	credit	credit	NOUN
dem-15805	107	9	agricole	agricole	NOUN
dem-15805	107	10	i	i	PRON
dem-15805	107	11	round	round	VERB
dem-15805	107	12	0.4255	0.4255	NUM
dem-15805	107	13	0.4706	0.4706	NUM
dem-15805	107	14	1.8703	1.8703	NUM
dem-15805	107	15	1.7048	1.7048	NUM
dem-15805	107	16	0.8368	0.8368	NUM
dem-15805	107	17	0.6278	0.6278	NUM
dem-15805	107	18	ii	ii	NOUN
dem-15805	107	19	round	round	ADP
dem-15805	107	20	0.3411	0.3411	NUM
dem-15805	107	21	0.3750	0.3750	NUM
dem-15805	107	22	1.7730	1.7730	NUM
dem-15805	107	23	1.5932	1.5932	NUM
dem-15805	107	24	0.4965	0.4965	NUM
dem-15805	107	25	0.3601	0.3601	NUM
dem-15805	107	26	pzu	pzu	NOUN
dem-15805	108	1	i	i	PRON
dem-15805	108	2	round	round	VERB
dem-15805	108	3	9.8989	9.8989	NUM
dem-15805	108	4	9.7889	9.7889	NUM
dem-15805	108	5	15.1606	15.1606	NUM
dem-15805	108	6	13.3466	13.3466	NUM
dem-15805	108	7	–	–	PUNCT
dem-15805	108	8	2.4622	2.4622	NUM
dem-15805	108	9	–	–	PUNCT
dem-15805	108	10	1.7842	1.7842	NUM
dem-15805	108	11	ii	ii	NOUN
dem-15805	108	12	round	round	ADP
dem-15805	108	13	9.6437	9.6437	NUM
dem-15805	108	14	9.5620	9.5620	NUM
dem-15805	108	15	14.8252	14.8252	NUM
dem-15805	108	16	12.9878	12.9878	NUM
dem-15805	108	17	–	–	PUNCT
dem-15805	108	18	2.2242	2.2242	NUM
dem-15805	108	19	–	–	PUNCT
dem-15805	108	20	1.5727	1.5727	NUM
dem-15805	108	21	pioneer	pioneer	NOUN
dem-15805	108	22	i	i	PRON
dem-15805	108	23	round	round	VERB
dem-15805	108	24	7.7857	7.7857	NUM
dem-15805	108	25	10.2830	10.2830	NUM
dem-15805	108	26	10.7358	10.7358	NUM
dem-15805	108	27	14.5523	14.5523	NUM
dem-15805	108	28	–	–	PUNCT
dem-15805	108	29	1.5012	1.5012	NUM
dem-15805	108	30	–	–	PUNCT
dem-15805	108	31	1.6749	1.6749	NUM
dem-15805	108	32	ii	ii	NOUN
dem-15805	108	33	round	round	ADP
dem-15805	108	34	7.7518	7.7518	NUM
dem-15805	108	35	10.2474	10.2474	NUM
dem-15805	108	36	10.7422	10.7422	NUM
dem-15805	108	37	14.3758	14.3758	NUM
dem-15805	108	38	–	–	PUNCT
dem-15805	108	39	1.1776	1.1776	NUM
dem-15805	108	40	–	–	PUNCT
dem-15805	108	41	1.2720	1.2720	NUM
dem-15805	108	42	nn	nn	X
dem-15805	108	43	i	i	PRON
dem-15805	108	44	round	round	VERB
dem-15805	108	45	1.2969	1.2969	NUM
dem-15805	108	46	1.6600	1.6600	NUM
dem-15805	108	47	3.2745	3.2745	NUM
dem-15805	108	48	3.7870	3.7870	NUM
dem-15805	108	49	–	–	PUNCT
dem-15805	108	50	2.3184	2.3184	NUM
dem-15805	108	51	–	–	PUNCT
dem-15805	108	52	2.2070	2.2070	NUM
dem-15805	108	53	ii	ii	NOUN
dem-15805	108	54	round	round	ADP
dem-15805	108	55	1.3137	1.3137	NUM
dem-15805	108	56	1.6850	1.6850	NUM
dem-15805	108	57	3.3972	3.3972	NUM
dem-15805	108	58	3.8855	3.8855	NUM
dem-15805	108	59	–	–	PUNCT
dem-15805	108	60	2.1582	2.1582	NUM
dem-15805	108	61	–	–	PUNCT
dem-15805	108	62	1.9923	1.9923	NUM
dem-15805	108	63	kbc	kbc	X
dem-15805	109	1	i	i	PRON
dem-15805	109	2	round	round	VERB
dem-15805	109	3	13.0273	13.0273	NUM
dem-15805	109	4	16.6628	16.6628	NUM
dem-15805	109	5	17.2482	17.2482	NUM
dem-15805	109	6	17.9215	17.9215	NUM
dem-15805	109	7	0.7775	0.7775	NUM
dem-15805	109	8	0.6650	0.6650	NUM
dem-15805	109	9	ii	ii	NOUN
dem-15805	109	10	round	round	ADP
dem-15805	109	11	13.0234	13.0234	NUM
dem-15805	109	12	16.6094	16.6094	NUM
dem-15805	109	13	17.2693	17.2693	NUM
dem-15805	109	14	17.6845	17.6845	NUM
dem-15805	109	15	0.4928	0.4928	NUM
dem-15805	109	16	0.4073	0.4073	NUM
dem-15805	109	17	note	note	NOUN
dem-15805	109	18	:	:	PUNCT
dem-15805	109	19	bold	bold	ADJ
dem-15805	109	20	letters	letter	NOUN
dem-15805	109	21	denote	denote	VERB
dem-15805	109	22	rejection	rejection	NOUN
dem-15805	109	23	of	of	ADP
dem-15805	109	24	null	null	ADJ
dem-15805	109	25	hypothesis	hypothesis	NOUN
dem-15805	109	26	.	.	PUNCT
dem-15805	110	1	the	the	DET
dem-15805	110	2	last	last	ADJ
dem-15805	110	3	stage	stage	NOUN
dem-15805	110	4	of	of	ADP
dem-15805	110	5	our	our	PRON
dem-15805	110	6	investigation	investigation	NOUN
dem-15805	110	7	consists	consist	VERB
dem-15805	110	8	in	in	ADP
dem-15805	110	9	evaluation	evaluation	NOUN
dem-15805	110	10	the	the	DET
dem-15805	110	11	classical	classical	ADJ
dem-15805	110	12	efficiency	efficiency	NOUN
dem-15805	110	13	measures	measure	NOUN
dem-15805	110	14	,	,	PUNCT
dem-15805	110	15	which	which	PRON
dem-15805	110	16	are	be	AUX
dem-15805	110	17	given	give	VERB
dem-15805	110	18	in	in	ADP
dem-15805	110	19	tables	table	NOUN
dem-15805	110	20	9	9	NUM
dem-15805	110	21	and	and	CCONJ
dem-15805	110	22	10	10	NUM
dem-15805	110	23	.	.	PUNCT
dem-15805	111	1	treynor	treynor	NOUN
dem-15805	111	2	ratio	ratio	NOUN
dem-15805	111	3	uses	use	VERB
dem-15805	111	4	beta	beta	NOUN
dem-15805	111	5	as	as	ADP
dem-15805	111	6	a	a	DET
dem-15805	111	7	measure	measure	NOUN
dem-15805	111	8	of	of	ADP
dem-15805	111	9	risk	risk	NOUN
dem-15805	111	10	but	but	CCONJ
dem-15805	111	11	some	some	DET
dem-15805	111	12	authors	author	NOUN
dem-15805	111	13	apply	apply	VERB
dem-15805	111	14	beta	beta	NOUN
dem-15805	111	15	estimated	estimate	VERB
dem-15805	111	16	from	from	ADP
dem-15805	111	17	the	the	DET
dem-15805	111	18	single	single	ADJ
dem-15805	111	19	index	index	NOUN
dem-15805	111	20	model	model	NOUN
dem-15805	111	21	–	–	PUNCT
dem-15805	111	22	see	see	VERB
dem-15805	111	23	(	(	PUNCT
dem-15805	111	24	domański	domański	NOUN
dem-15805	111	25	2011	2011	NUM
dem-15805	111	26	,	,	PUNCT
dem-15805	111	27	p.	p.	NOUN
dem-15805	111	28	64	64	NUM
dem-15805	111	29	)	)	PUNCT
dem-15805	111	30	,	,	PUNCT
dem-15805	111	31	(	(	PUNCT
dem-15805	111	32	perez	perez	PROPN
dem-15805	111	33	2011	2011	NUM
dem-15805	111	34	,	,	PUNCT
dem-15805	111	35	p.155	p.155	NOUN
dem-15805	111	36	)	)	PUNCT
dem-15805	111	37	,	,	PUNCT
dem-15805	111	38	and	and	CCONJ
dem-15805	111	39	other	other	ADJ
dem-15805	111	40	–	–	PUNCT
dem-15805	111	41	take	take	VERB
dem-15805	111	42	beta	beta	NOUN
dem-15805	111	43	from	from	ADP
dem-15805	111	44	capm	capm	PROPN
dem-15805	111	45	–	–	PUNCT
dem-15805	111	46	see	see	VERB
dem-15805	111	47	(	(	PUNCT
dem-15805	111	48	borowski	borowski	PROPN
dem-15805	111	49	2014	2014	NUM
dem-15805	111	50	,	,	PUNCT
dem-15805	111	51	p.	p.	NOUN
dem-15805	111	52	20	20	NUM
dem-15805	111	53	)	)	PUNCT
dem-15805	111	54	,	,	PUNCT
dem-15805	111	55	(	(	PUNCT
dem-15805	111	56	białek	białek	PROPN
dem-15805	111	57	2009	2009	NUM
dem-15805	111	58	,	,	PUNCT
dem-15805	111	59	p.	p.	NOUN
dem-15805	111	60	34	34	NUM
dem-15805	111	61	)	)	PUNCT
dem-15805	111	62	.	.	PUNCT
dem-15805	112	1	therefore	therefore	ADV
dem-15805	112	2	,	,	PUNCT
dem-15805	112	3	we	we	PRON
dem-15805	112	4	use	use	VERB
dem-15805	112	5	both	both	DET
dem-15805	112	6	approaches	approach	NOUN
dem-15805	112	7	in	in	ADP
dem-15805	112	8	our	our	PRON
dem-15805	112	9	analysis	analysis	NOUN
dem-15805	112	10	.	.	PUNCT
dem-15805	113	1	the	the	DET
dem-15805	113	2	main	main	ADJ
dem-15805	113	3	conclusion	conclusion	NOUN
dem-15805	113	4	from	from	ADP
dem-15805	113	5	our	our	PRON
dem-15805	113	6	research	research	NOUN
dem-15805	113	7	is	be	AUX
dem-15805	113	8	that	that	SCONJ
dem-15805	113	9	the	the	DET
dem-15805	113	10	majority	majority	NOUN
dem-15805	113	11	of	of	ADP
dem-15805	113	12	portfolios	portfolio	NOUN
dem-15805	113	13	were	be	AUX
dem-15805	113	14	ineffective	ineffective	ADJ
dem-15805	113	15	,	,	PUNCT
dem-15805	113	16	except	except	SCONJ
dem-15805	113	17	fio	fio	NOUN
dem-15805	113	18	credit	credit	NOUN
dem-15805	113	19	agricole	agricole	NOUN
dem-15805	113	20	.	.	PUNCT
dem-15805	114	1	inefficiency	inefficiency	NOUN
dem-15805	114	2	appeared	appear	VERB
dem-15805	114	3	more	more	ADV
dem-15805	114	4	often	often	ADV
dem-15805	114	5	after	after	ADP
dem-15805	114	6	than	than	ADP
dem-15805	114	7	before	before	ADP
dem-15805	114	8	the	the	DET
dem-15805	114	9	presidential	presidential	ADJ
dem-15805	114	10	election	election	NOUN
dem-15805	114	11	.	.	PUNCT
dem-15805	115	1	after	after	SCONJ
dem-15805	115	2	the	the	DET
dem-15805	115	3	election	election	NOUN
dem-15805	115	4	sharpe	sharpe	PROPN
dem-15805	115	5	and	and	CCONJ
dem-15805	115	6	treynor	treynor	NOUN
dem-15805	115	7	ratios	ratio	NOUN
dem-15805	115	8	show	show	VERB
dem-15805	115	9	negative	negative	ADJ
dem-15805	115	10	risk	risk	NOUN
dem-15805	115	11	premium	premium	NOUN
dem-15805	115	12	,	,	PUNCT
dem-15805	115	13	and	and	CCONJ
dem-15805	115	14	they	they	PRON
dem-15805	115	15	usually	usually	ADV
dem-15805	115	16	decreased	decrease	VERB
dem-15805	115	17	in	in	ADP
dem-15805	115	18	comparison	comparison	NOUN
dem-15805	115	19	to	to	ADP
dem-15805	115	20	the	the	DET
dem-15805	115	21	first	first	ADJ
dem-15805	115	22	analyzed	analyze	VERB
dem-15805	115	23	time	time	NOUN
dem-15805	115	24	span	span	NOUN
dem-15805	115	25	,	,	PUNCT
dem-15805	115	26	although	although	SCONJ
dem-15805	115	27	jensen	jensen	PROPN
dem-15805	115	28	alphas	alphas	PROPN
dem-15805	115	29	for	for	ADP
dem-15805	115	30	fio	fio	NOUN
dem-15805	115	31	pzu	pzu	NOUN
dem-15805	115	32	and	and	CCONJ
dem-15805	115	33	nationale	nationale	ADV
dem-15805	115	34	-	-	PUNCT
dem-15805	115	35	nederlanden	nederlanden	NOUN
dem-15805	115	36	increased	increase	VERB
dem-15805	115	37	in	in	ADP
dem-15805	115	38	the	the	DET
dem-15805	115	39	samples	sample	NOUN
dem-15805	115	40	containing	contain	VERB
dem-15805	115	41	observations	observation	NOUN
dem-15805	115	42	after	after	ADP
dem-15805	115	43	the	the	DET
dem-15805	115	44	presidential	presidential	ADJ
dem-15805	115	45	election	election	NOUN
dem-15805	115	46	.	.	PUNCT
dem-15805	116	1	how	how	SCONJ
dem-15805	116	2	the	the	DET
dem-15805	116	3	change	change	NOUN
dem-15805	116	4	of	of	ADP
dem-15805	116	5	governing	govern	VERB
dem-15805	116	6	party	party	NOUN
dem-15805	116	7	influences	influence	VERB
dem-15805	116	8	the	the	DET
dem-15805	116	9	efficiency	efficiency	NOUN
dem-15805	116	10	of	of	ADP
dem-15805	116	11	financial	financial	ADJ
dem-15805	116	12	market	market	NOUN
dem-15805	116	13	…	…	PUNCT
dem-15805	116	14	dynamic	dynamic	ADJ
dem-15805	116	15	econometric	econometric	ADJ
dem-15805	116	16	models	model	NOUN
dem-15805	116	17	17	17	NUM
dem-15805	116	18	(	(	PUNCT
dem-15805	116	19	2017	2017	NUM
dem-15805	116	20	)	)	PUNCT
dem-15805	116	21	147–159	147–159	NUM
dem-15805	116	22	157	157	NUM
dem-15805	116	23	table	table	NOUN
dem-15805	116	24	9	9	NUM
dem-15805	116	25	.	.	PUNCT
dem-15805	117	1	values	value	NOUN
dem-15805	117	2	of	of	ADP
dem-15805	117	3	the	the	DET
dem-15805	117	4	efficiency	efficiency	NOUN
dem-15805	117	5	measures	measure	NOUN
dem-15805	117	6	evaluated	evaluate	VERB
dem-15805	117	7	for	for	ADP
dem-15805	117	8	mutual	mutual	ADJ
dem-15805	117	9	funds	fund	NOUN
dem-15805	117	10	before	before	ADP
dem-15805	117	11	and	and	CCONJ
dem-15805	117	12	after	after	ADP
dem-15805	117	13	both	both	DET
dem-15805	117	14	rounds	round	NOUN
dem-15805	117	15	of	of	ADP
dem-15805	117	16	presidential	presidential	ADJ
dem-15805	117	17	election	election	NOUN
dem-15805	117	18	ratio	ratio	NOUN
dem-15805	117	19	:	:	PUNCT
dem-15805	117	20	sharpe	sharpe	PROPN
dem-15805	117	21	treynor	treynor	PROPN
dem-15805	117	22	(	(	PUNCT
dem-15805	117	23	β	β	X
dem-15805	117	24	sharpe	sharpe	PROPN
dem-15805	117	25	)	)	PUNCT
dem-15805	117	26	treynor	treynor	NOUN
dem-15805	117	27	(	(	PUNCT
dem-15805	117	28	β	β	X
dem-15805	117	29	capm	capm	PROPN
dem-15805	117	30	)	)	PUNCT
dem-15805	117	31	jensen	jensen	PROPN
dem-15805	117	32	alpha	alpha	PROPN
dem-15805	117	33	fund	fund	PROPN
dem-15805	117	34	or	or	CCONJ
dem-15805	117	35	index	index	NOUN
dem-15805	117	36	periods	period	NOUN
dem-15805	117	37	before	before	ADP
dem-15805	117	38	rounds	round	NOUN
dem-15805	117	39	of	of	ADP
dem-15805	117	40	presidential	presidential	ADJ
dem-15805	117	41	election	election	NOUN
dem-15805	117	42	1st	1st	ADJ
dem-15805	117	43	round	round	PROPN
dem-15805	117	44	2nd	2nd	PROPN
dem-15805	117	45	round	round	PROPN
dem-15805	117	46	1st	1st	ADJ
dem-15805	117	47	round	round	PROPN
dem-15805	117	48	2nd	2nd	ADJ
dem-15805	117	49	round	round	PROPN
dem-15805	117	50	1st	1st	ADJ
dem-15805	117	51	round	round	PROPN
dem-15805	117	52	2nd	2nd	ADJ
dem-15805	117	53	round	round	PROPN
dem-15805	117	54	1st	1st	ADJ
dem-15805	117	55	round	round	PROPN
dem-15805	117	56	2nd	2nd	ADJ
dem-15805	117	57	round	round	NOUN
dem-15805	117	58	ca	ca	PROPN
dem-15805	117	59	0.00392	0.00392	NUM
dem-15805	117	60	–	–	PUNCT
dem-15805	117	61	0.00015	0.00015	NUM
dem-15805	117	62	0.00004	0.00004	NUM
dem-15805	117	63	0.00000	0.00000	NUM
dem-15805	117	64	0.00004	0.00004	NUM
dem-15805	117	65	0.00000	0.00000	NUM
dem-15805	117	66	0.00001	0.00001	NUM
dem-15805	117	67	0.00001	0.00001	NUM
dem-15805	117	68	pzu	pzu	NOUN
dem-15805	117	69	–	–	PUNCT
dem-15805	117	70	0.05050	0.05050	NUM
dem-15805	117	71	–	–	PUNCT
dem-15805	117	72	0.05011	0.05011	NUM
dem-15805	117	73	–	–	PUNCT
dem-15805	117	74	0.00044	0.00044	NUM
dem-15805	117	75	–	–	SYM
dem-15805	117	76	0.00043	0.00043	NUM
dem-15805	117	77	–	–	PUNCT
dem-15805	117	78	0.00047	0.00047	NUM
dem-15805	117	79	–	–	PUNCT
dem-15805	117	80	0.00046	0.00046	NUM
dem-15805	117	81	–	–	PUNCT
dem-15805	117	82	0.00018	0.00018	NUM
dem-15805	117	83	–	–	PUNCT
dem-15805	117	84	0.00017	0.00017	NUM
dem-15805	117	85	pio	pio	PROPN
dem-15805	117	86	–	–	PUNCT
dem-15805	117	87	0.05753	0.05753	NUM
dem-15805	117	88	–	–	PUNCT
dem-15805	117	89	0.05635	0.05635	NUM
dem-15805	117	90	–	–	PUNCT
dem-15805	117	91	0.00049	0.00049	NUM
dem-15805	117	92	–	–	PUNCT
dem-15805	117	93	0.00048	0.00048	NUM
dem-15805	117	94	–	–	PUNCT
dem-15805	117	95	0.00051	0.00051	NUM
dem-15805	117	96	–	–	PUNCT
dem-15805	117	97	0.00049	0.00049	NUM
dem-15805	117	98	–	–	PUNCT
dem-15805	117	99	0.00019	0.00019	NUM
dem-15805	117	100	–	–	PUNCT
dem-15805	117	101	0.00017	0.00017	NUM
dem-15805	117	102	nn	nn	X
dem-15805	117	103	–	–	PUNCT
dem-15805	117	104	0.03614	0.03614	NUM
dem-15805	117	105	–	–	PUNCT
dem-15805	117	106	0.03591	0.03591	NUM
dem-15805	117	107	–	–	PUNCT
dem-15805	117	108	0.00031	0.00031	NUM
dem-15805	117	109	–	–	PUNCT
dem-15805	117	110	0.00031	0.00031	NUM
dem-15805	117	111	–	–	PUNCT
dem-15805	117	112	0.00033	0.00033	NUM
dem-15805	117	113	–	–	PUNCT
dem-15805	117	114	0.00032	0.00032	NUM
dem-15805	117	115	–	–	PUNCT
dem-15805	117	116	0.00010	0.00010	NUM
dem-15805	117	117	–	–	PUNCT
dem-15805	117	118	0.00009	0.00009	NUM
dem-15805	117	119	kbc	kbc	PROPN
dem-15805	117	120	–	–	PUNCT
dem-15805	117	121	0.00056	0.00056	NUM
dem-15805	117	122	–	–	PUNCT
dem-15805	117	123	0.00459	0.00459	NUM
dem-15805	117	124	–	–	PUNCT
dem-15805	117	125	0.00001	0.00001	NUM
dem-15805	117	126	–	–	PUNCT
dem-15805	117	127	0.00004	0.00004	NUM
dem-15805	117	128	–	–	PUNCT
dem-15805	117	129	0.00001	0.00001	NUM
dem-15805	117	130	–	–	PUNCT
dem-15805	117	131	0.00004	0.00004	NUM
dem-15805	117	132	0.00000	0.00000	NUM
dem-15805	117	133	–	–	PUNCT
dem-15805	117	134	0.00001	0.00001	NUM
dem-15805	117	135	wig	wig	NOUN
dem-15805	117	136	–	–	PUNCT
dem-15805	117	137	0.00173	0.00173	NUM
dem-15805	117	138	–	–	PUNCT
dem-15805	117	139	0.00372	0.00372	NUM
dem-15805	117	140	–	–	PUNCT
dem-15805	117	141	0.00001	0.00001	NUM
dem-15805	117	142	–	–	PUNCT
dem-15805	117	143	0.00003	0.00003	NUM
dem-15805	117	144	–	–	PUNCT
dem-15805	117	145	0.00001	0.00001	NUM
dem-15805	117	146	–	–	PUNCT
dem-15805	117	147	0.00003	0.00003	NUM
dem-15805	117	148	x	x	SYM
dem-15805	117	149	x	x	PUNCT
dem-15805	117	150	periods	period	NOUN
dem-15805	117	151	after	after	ADP
dem-15805	117	152	rounds	round	NOUN
dem-15805	117	153	of	of	ADP
dem-15805	117	154	presidential	presidential	ADJ
dem-15805	117	155	election	election	NOUN
dem-15805	117	156	ca	ca	NOUN
dem-15805	117	157	–	–	PUNCT
dem-15805	117	158	0.03148	0.03148	NUM
dem-15805	117	159	–	–	PUNCT
dem-15805	117	160	0.02775	0.02775	NUM
dem-15805	117	161	–	–	PUNCT
dem-15805	117	162	0.00038	0.00038	NUM
dem-15805	117	163	–	–	PUNCT
dem-15805	117	164	0.00034	0.00034	NUM
dem-15805	117	165	–	–	PUNCT
dem-15805	117	166	0.00045	0.00045	NUM
dem-15805	117	167	–	–	PUNCT
dem-15805	117	168	0.00040	0.00040	NUM
dem-15805	117	169	–	–	PUNCT
dem-15805	117	170	0.00002	0.00002	NUM
dem-15805	117	171	–	–	PUNCT
dem-15805	117	172	0.00001	0.00001	NUM
dem-15805	117	173	pzu	pzu	NOUN
dem-15805	117	174	–	–	PUNCT
dem-15805	117	175	0.04315	0.04315	NUM
dem-15805	117	176	–	–	PUNCT
dem-15805	117	177	0.04270	0.04270	NUM
dem-15805	117	178	–	–	PUNCT
dem-15805	117	179	0.00049	0.00049	NUM
dem-15805	117	180	–	–	PUNCT
dem-15805	117	181	0.00048	0.00048	NUM
dem-15805	117	182	–	–	PUNCT
dem-15805	117	183	0.00053	0.00053	NUM
dem-15805	117	184	–	–	PUNCT
dem-15805	117	185	0.00053	0.00053	NUM
dem-15805	117	186	–	–	PUNCT
dem-15805	117	187	0.00006	0.00006	NUM
dem-15805	117	188	–	–	PUNCT
dem-15805	117	189	0.00006	0.00006	NUM
dem-15805	117	190	pio	pio	PROPN
dem-15805	117	191	–	–	PUNCT
dem-15805	117	192	0.06353	0.06353	NUM
dem-15805	117	193	–	–	PUNCT
dem-15805	117	194	0.06314	0.06314	NUM
dem-15805	117	195	–	–	PUNCT
dem-15805	117	196	0.00066	0.00066	NUM
dem-15805	117	197	–	–	PUNCT
dem-15805	117	198	0.00066	0.00066	NUM
dem-15805	117	199	–	–	PUNCT
dem-15805	117	200	0.00071	0.00071	NUM
dem-15805	117	201	–	–	PUNCT
dem-15805	117	202	0.00071	0.00071	NUM
dem-15805	117	203	–	–	PUNCT
dem-15805	117	204	0.00037	0.00037	NUM
dem-15805	117	205	–	–	PUNCT
dem-15805	117	206	0.00012	0.00012	NUM
dem-15805	117	207	nn	nn	X
dem-15805	117	208	–	–	PUNCT
dem-15805	117	209	0.03399	0.03399	NUM
dem-15805	117	210	–	–	PUNCT
dem-15805	117	211	0.03284	0.03284	NUM
dem-15805	117	212	–	–	PUNCT
dem-15805	117	213	0.00035	0.00035	NUM
dem-15805	117	214	–	–	PUNCT
dem-15805	117	215	0.00034	0.00034	NUM
dem-15805	117	216	–	–	PUNCT
dem-15805	117	217	0.00038	0.00038	NUM
dem-15805	117	218	–	–	PUNCT
dem-15805	117	219	0.00037	0.00037	NUM
dem-15805	117	220	–	–	PUNCT
dem-15805	117	221	0.00004	0.00004	NUM
dem-15805	117	222	–	–	PUNCT
dem-15805	117	223	0.00001	0.00001	NUM
dem-15805	117	224	kbc	kbc	PROPN
dem-15805	117	225	–	–	PUNCT
dem-15805	117	226	0.04069	0.04069	NUM
dem-15805	117	227	–	–	PUNCT
dem-15805	117	228	0.03642	0.03642	NUM
dem-15805	117	229	–	–	PUNCT
dem-15805	117	230	0.00048	0.00048	NUM
dem-15805	117	231	–	–	PUNCT
dem-15805	117	232	0.00043	0.00043	NUM
dem-15805	117	233	–	–	PUNCT
dem-15805	117	234	0.00053	0.00053	NUM
dem-15805	117	235	–	–	PUNCT
dem-15805	117	236	0.00048	0.00048	NUM
dem-15805	117	237	–	–	PUNCT
dem-15805	117	238	0.00019	0.00019	NUM
dem-15805	117	239	–	–	PUNCT
dem-15805	117	240	0.00005	0.00005	NUM
dem-15805	117	241	wig	wig	NOUN
dem-15805	117	242	–	–	PUNCT
dem-15805	117	243	0.03399	0.03399	NUM
dem-15805	117	244	–	–	PUNCT
dem-15805	117	245	0.02817	0.02817	NUM
dem-15805	117	246	–	–	PUNCT
dem-15805	117	247	0.00034	0.00034	NUM
dem-15805	117	248	–	–	PUNCT
dem-15805	117	249	0.00028	0.00028	NUM
dem-15805	117	250	–	–	PUNCT
dem-15805	117	251	0.00034	0.00034	NUM
dem-15805	117	252	–	–	PUNCT
dem-15805	117	253	0.00028	0.00028	NUM
dem-15805	117	254	x	x	SYM
dem-15805	117	255	x	x	SYM
dem-15805	117	256	note	note	NOUN
dem-15805	117	257	:	:	PUNCT
dem-15805	117	258	bold	bold	ADJ
dem-15805	117	259	letters	letter	NOUN
dem-15805	117	260	denote	denote	VERB
dem-15805	117	261	that	that	SCONJ
dem-15805	117	262	sharpe	sharpe	PROPN
dem-15805	117	263	and	and	CCONJ
dem-15805	117	264	treynor	treynor	NOUN
dem-15805	117	265	ratios	ratio	NOUN
dem-15805	117	266	evaluated	evaluate	VERB
dem-15805	117	267	for	for	ADP
dem-15805	117	268	mutual	mutual	ADJ
dem-15805	117	269	funds	fund	NOUN
dem-15805	117	270	are	be	AUX
dem-15805	117	271	bigger	big	ADJ
dem-15805	117	272	than	than	ADP
dem-15805	117	273	the	the	DET
dem-15805	117	274	ones	one	NOUN
dem-15805	117	275	calculated	calculate	VERB
dem-15805	117	276	for	for	ADP
dem-15805	117	277	wig	wig	NOUN
dem-15805	117	278	and	and	CCONJ
dem-15805	117	279	jensen	jensen	PROPN
dem-15805	117	280	ratios	ratio	NOUN
dem-15805	117	281	are	be	AUX
dem-15805	117	282	statistically	statistically	ADV
dem-15805	117	283	significant	significant	ADJ
dem-15805	117	284	.	.	PUNCT
dem-15805	118	1	table	table	NOUN
dem-15805	118	2	10	10	NUM
dem-15805	118	3	.	.	PUNCT
dem-15805	119	1	values	value	NOUN
dem-15805	119	2	of	of	ADP
dem-15805	119	3	the	the	DET
dem-15805	119	4	efficiency	efficiency	NOUN
dem-15805	119	5	measures	measure	NOUN
dem-15805	119	6	evaluated	evaluate	VERB
dem-15805	119	7	for	for	ADP
dem-15805	119	8	whole	whole	ADJ
dem-15805	119	9	period	period	NOUN
dem-15805	119	10	sharpe	sharpe	PROPN
dem-15805	119	11	treynor	treynor	PROPN
dem-15805	119	12	(	(	PUNCT
dem-15805	119	13	β	β	X
dem-15805	119	14	sharpe	sharpe	PROPN
dem-15805	119	15	)	)	PUNCT
dem-15805	119	16	treynor	treynor	NOUN
dem-15805	119	17	(	(	PUNCT
dem-15805	119	18	β	β	X
dem-15805	119	19	capm	capm	PROPN
dem-15805	119	20	)	)	PUNCT
dem-15805	119	21	jensen	jensen	PROPN
dem-15805	119	22	alpha	alpha	PROPN
dem-15805	119	23	ca	can	AUX
dem-15805	119	24	–	–	PUNCT
dem-15805	119	25	0.01485	0.01485	NUM
dem-15805	119	26	–	–	PUNCT
dem-15805	119	27	0.00017	0.00017	NUM
dem-15805	119	28	–	–	PUNCT
dem-15805	119	29	0.00019	0.00019	NUM
dem-15805	119	30	0.00000	0.00000	NUM
dem-15805	119	31	pzu	pzu	NOUN
dem-15805	119	32	–	–	PUNCT
dem-15805	119	33	0.04640	0.04640	NUM
dem-15805	119	34	–	–	PUNCT
dem-15805	119	35	0.00047	0.00047	NUM
dem-15805	119	36	–	–	PUNCT
dem-15805	119	37	0.00050	0.00050	NUM
dem-15805	119	38	–	–	PUNCT
dem-15805	119	39	0.00011	0.00011	NUM
dem-15805	119	40	pio	pio	PROPN
dem-15805	119	41	–	–	PUNCT
dem-15805	119	42	0.05976	0.05976	NUM
dem-15805	119	43	–	–	PUNCT
dem-15805	119	44	0.00057	0.00057	NUM
dem-15805	119	45	–	–	PUNCT
dem-15805	119	46	0.00060	0.00060	NUM
dem-15805	119	47	–	–	PUNCT
dem-15805	119	48	0.00014	0.00014	NUM
dem-15805	119	49	nn	nn	NUM
dem-15805	119	50	–	–	PUNCT
dem-15805	119	51	0.03413	0.03413	NUM
dem-15805	119	52	–	–	PUNCT
dem-15805	119	53	0.00033	0.00033	NUM
dem-15805	119	54	–	–	PUNCT
dem-15805	119	55	0.00035	0.00035	NUM
dem-15805	119	56	–	–	PUNCT
dem-15805	119	57	0.00005	0.00005	NUM
dem-15805	119	58	kbc	kbc	PROPN
dem-15805	119	59	–	–	PUNCT
dem-15805	119	60	0.01894	0.01894	NUM
dem-15805	119	61	–	–	PUNCT
dem-15805	119	62	0.00020	0.00020	NUM
dem-15805	119	63	–	–	PUNCT
dem-15805	119	64	0.00022	0.00022	NUM
dem-15805	119	65	–	–	PUNCT
dem-15805	119	66	0.00001	0.00001	NUM
dem-15805	119	67	wig	wig	NOUN
dem-15805	119	68	–	–	PUNCT
dem-15805	119	69	0.01938	0.01938	NUM
dem-15805	119	70	–	–	PUNCT
dem-15805	119	71	0.00017	0.00017	NUM
dem-15805	119	72	–	–	PUNCT
dem-15805	119	73	0.00017	0.00017	NUM
dem-15805	119	74	x	x	SYM
dem-15805	119	75	note	note	NOUN
dem-15805	119	76	:	:	PUNCT
dem-15805	119	77	bold	bold	ADJ
dem-15805	119	78	letters	letter	NOUN
dem-15805	119	79	denote	denote	VERB
dem-15805	119	80	that	that	SCONJ
dem-15805	119	81	sharpe	sharpe	PROPN
dem-15805	119	82	and	and	CCONJ
dem-15805	119	83	treynor	treynor	NOUN
dem-15805	119	84	ratios	ratio	NOUN
dem-15805	119	85	evaluated	evaluate	VERB
dem-15805	119	86	for	for	ADP
dem-15805	119	87	mutual	mutual	ADJ
dem-15805	119	88	funds	fund	NOUN
dem-15805	119	89	are	be	AUX
dem-15805	119	90	bigger	big	ADJ
dem-15805	119	91	than	than	ADP
dem-15805	119	92	the	the	DET
dem-15805	119	93	ones	one	NOUN
dem-15805	119	94	calculated	calculate	VERB
dem-15805	119	95	for	for	ADP
dem-15805	119	96	wig	wig	NOUN
dem-15805	119	97	and	and	CCONJ
dem-15805	119	98	jensen	jensen	PROPN
dem-15805	119	99	ratios	ratio	NOUN
dem-15805	119	100	are	be	AUX
dem-15805	119	101	statistically	statistically	ADV
dem-15805	119	102	significant	significant	ADJ
dem-15805	119	103	.	.	PUNCT
dem-15805	120	1	here	here	ADV
dem-15805	120	2	the	the	DET
dem-15805	120	3	question	question	NOUN
dem-15805	120	4	arises	arise	VERB
dem-15805	120	5	if	if	SCONJ
dem-15805	120	6	changes	change	NOUN
dem-15805	120	7	of	of	ADP
dem-15805	120	8	efficiency	efficiency	NOUN
dem-15805	120	9	measures	measure	NOUN
dem-15805	120	10	observed	observe	VERB
dem-15805	120	11	in	in	ADP
dem-15805	120	12	comparable	comparable	ADJ
dem-15805	120	13	periods	period	NOUN
dem-15805	120	14	are	be	AUX
dem-15805	120	15	statistically	statistically	ADV
dem-15805	120	16	significant	significant	ADJ
dem-15805	120	17	.	.	PUNCT
dem-15805	121	1	to	to	PART
dem-15805	121	2	verify	verify	VERB
dem-15805	121	3	such	such	ADJ
dem-15805	121	4	hypothesis	hypothesis	NOUN
dem-15805	121	5	the	the	DET
dem-15805	121	6	test	test	NOUN
dem-15805	121	7	with	with	ADP
dem-15805	121	8	statistics	statistic	NOUN
dem-15805	121	9	(	(	PUNCT
dem-15805	121	10	10	10	NUM
dem-15805	121	11	)	)	PUNCT
dem-15805	121	12	is	be	AUX
dem-15805	121	13	used	use	VERB
dem-15805	121	14	for	for	ADP
dem-15805	121	15	sharpe	sharpe	NOUN
dem-15805	121	16	ratio	ratio	NOUN
dem-15805	121	17	,	,	PUNCT
dem-15805	121	18	together	together	ADV
dem-15805	121	19	with	with	ADP
dem-15805	121	20	the	the	DET
dem-15805	121	21	test	test	NOUN
dem-15805	121	22	statistics	statistic	NOUN
dem-15805	121	23	(	(	PUNCT
dem-15805	121	24	1	1	X
dem-15805	121	25	)	)	PUNCT
dem-15805	121	26	and	and	CCONJ
dem-15805	121	27	(	(	PUNCT
dem-15805	121	28	2	2	NUM
dem-15805	121	29	)	)	PUNCT
dem-15805	121	30	,	,	PUNCT
dem-15805	121	31	applied	apply	VERB
dem-15805	121	32	for	for	ADP
dem-15805	121	33	average	average	ADJ
dem-15805	121	34	values	value	NOUN
dem-15805	121	35	of	of	ADP
dem-15805	121	36	sharpe	sharpe	PROPN
dem-15805	121	37	and	and	CCONJ
dem-15805	121	38	treynor	treynor	NOUN
dem-15805	121	39	ratios	ratio	NOUN
dem-15805	121	40	,	,	PUNCT
dem-15805	121	41	evaluated	evaluate	VERB
dem-15805	121	42	for	for	ADP
dem-15805	121	43	all	all	DET
dem-15805	121	44	analyzed	analyze	VERB
dem-15805	121	45	funds	fund	NOUN
dem-15805	121	46	.	.	PUNCT
dem-15805	122	1	as	as	SCONJ
dem-15805	122	2	one	one	PRON
dem-15805	122	3	may	may	AUX
dem-15805	122	4	notice	notice	VERB
dem-15805	122	5	in	in	ADP
dem-15805	122	6	table	table	NOUN
dem-15805	122	7	11	11	NUM
dem-15805	122	8	,	,	PUNCT
dem-15805	122	9	neither	neither	CCONJ
dem-15805	122	10	differences	difference	NOUN
dem-15805	122	11	of	of	ADP
dem-15805	122	12	sharpe	sharpe	NOUN
dem-15805	122	13	ratios	ratio	NOUN
dem-15805	122	14	between	between	ADP
dem-15805	122	15	periods	period	NOUN
dem-15805	122	16	nor	nor	CCONJ
dem-15805	122	17	differences	difference	NOUN
dem-15805	122	18	between	between	ADP
dem-15805	122	19	mutual	mutual	ADJ
dem-15805	122	20	fund	fund	NOUN
dem-15805	122	21	and	and	CCONJ
dem-15805	122	22	market	market	NOUN
dem-15805	122	23	index	index	NOUN
dem-15805	122	24	are	be	AUX
dem-15805	122	25	significant	significant	ADJ
dem-15805	122	26	.	.	PUNCT
dem-15805	123	1	however	however	ADV
dem-15805	123	2	,	,	PUNCT
dem-15805	123	3	if	if	SCONJ
dem-15805	123	4	average	average	ADJ
dem-15805	123	5	values	value	NOUN
dem-15805	123	6	of	of	ADP
dem-15805	123	7	treynors	treynor	NOUN
dem-15805	123	8	ratios	ratio	NOUN
dem-15805	123	9	are	be	AUX
dem-15805	123	10	compared	compare	VERB
dem-15805	123	11	the	the	DET
dem-15805	123	12	better	well	ADJ
dem-15805	123	13	investment	investment	NOUN
dem-15805	123	14	performance	performance	NOUN
dem-15805	123	15	before	before	SCONJ
dem-15805	123	16	the	the	DET
dem-15805	123	17	election	election	NOUN
dem-15805	123	18	is	be	AUX
dem-15805	123	19	proved	prove	VERB
dem-15805	123	20	(	(	PUNCT
dem-15805	123	21	table	table	NOUN
dem-15805	123	22	12	12	NUM
dem-15805	123	23	)	)	PUNCT
dem-15805	123	24	since	since	SCONJ
dem-15805	123	25	the	the	DET
dem-15805	123	26	higher	high	ADJ
dem-15805	123	27	risk	risk	NOUN
dem-15805	123	28	premium	premium	NOUN
dem-15805	123	29	was	be	AUX
dem-15805	123	30	obtained	obtain	VERB
dem-15805	123	31	.	.	PUNCT
dem-15805	124	1	dorota	dorota	PROPN
dem-15805	124	2	witkowska	witkowska	PROPN
dem-15805	124	3	,	,	PUNCT
dem-15805	124	4	krzysztof	krzysztof	PROPN
dem-15805	124	5	kompa	kompa	VERB
dem-15805	124	6	dynamic	dynamic	ADJ
dem-15805	124	7	econometric	econometric	ADJ
dem-15805	124	8	models	model	NOUN
dem-15805	124	9	17	17	NUM
dem-15805	124	10	(	(	PUNCT
dem-15805	124	11	2017	2017	NUM
dem-15805	124	12	)	)	PUNCT
dem-15805	124	13	147–159	147–159	NUM
dem-15805	124	14	158	158	NUM
dem-15805	124	15	table	table	NOUN
dem-15805	124	16	11	11	NUM
dem-15805	124	17	.	.	PUNCT
dem-15805	125	1	values	value	NOUN
dem-15805	125	2	of	of	ADP
dem-15805	125	3	test	test	NOUN
dem-15805	125	4	statistics	statistic	NOUN
dem-15805	125	5	in	in	ADP
dem-15805	125	6	jobson	jobson	PROPN
dem-15805	125	7	–	–	PUNCT
dem-15805	125	8	korkie	korkie	NOUN
dem-15805	125	9	test	test	NOUN
dem-15805	125	10	funds	fund	NOUN
dem-15805	125	11	or	or	CCONJ
dem-15805	125	12	index	index	NOUN
dem-15805	125	13	comparison	comparison	NOUN
dem-15805	125	14	of	of	ADP
dem-15805	125	15	sharpe	sharpe	NOUN
dem-15805	125	16	ratios	ratio	NOUN
dem-15805	125	17	in	in	ADP
dem-15805	125	18	two	two	NUM
dem-15805	125	19	sub	sub	NOUN
dem-15805	125	20	-	-	NOUN
dem-15805	125	21	periods	period	NOUN
dem-15805	125	22	between	between	ADP
dem-15805	125	23	fio	fio	NOUN
dem-15805	125	24	credit	credit	NOUN
dem-15805	125	25	agricole	agricole	NOUN
dem-15805	125	26	and	and	CCONJ
dem-15805	125	27	wig	wig	NOUN
dem-15805	125	28	1st	1st	ADJ
dem-15805	126	1	round	round	PROPN
dem-15805	126	2	2nd	2nd	ADJ
dem-15805	126	3	round	round	NOUN
dem-15805	126	4	ca	ca	NOUN
dem-15805	126	5	–	–	PUNCT
dem-15805	126	6	0.03148	0.03148	NUM
dem-15805	126	7	–	–	PUNCT
dem-15805	126	8	0.02775	0.02775	NUM
dem-15805	126	9	1st	1st	ADJ
dem-15805	126	10	round	round	NOUN
dem-15805	126	11	of	of	ADP
dem-15805	126	12	presidential	presidential	ADJ
dem-15805	126	13	election	election	NOUN
dem-15805	126	14	0.17623	0.17623	NUM
dem-15805	126	15	pzu	pzu	NOUN
dem-15805	126	16	–	–	PUNCT
dem-15805	126	17	0.04315	0.04315	NUM
dem-15805	126	18	–	–	PUNCT
dem-15805	126	19	0.04270	0.04270	NUM
dem-15805	126	20	pio	pio	PROPN
dem-15805	126	21	–	–	PUNCT
dem-15805	126	22	0.06353	0.06353	NUM
dem-15805	126	23	–	–	PUNCT
dem-15805	126	24	0.06314	0.06314	NUM
dem-15805	126	25	2nd	2nd	ADJ
dem-15805	126	26	round	round	NOUN
dem-15805	126	27	of	of	ADP
dem-15805	126	28	presidential	presidential	ADJ
dem-15805	126	29	election	election	NOUN
dem-15805	126	30	0.11181	0.11181	NUM
dem-15805	126	31	nn	nn	NOUN
dem-15805	126	32	–	–	PUNCT
dem-15805	126	33	0.03399	0.03399	NUM
dem-15805	126	34	–	–	PUNCT
dem-15805	126	35	0.03284	0.03284	NUM
dem-15805	126	36	kbc	kbc	PROPN
dem-15805	126	37	–	–	PUNCT
dem-15805	126	38	0.04069	0.04069	NUM
dem-15805	126	39	–	–	PUNCT
dem-15805	126	40	0.03642	0.03642	NUM
dem-15805	126	41	in	in	ADP
dem-15805	126	42	the	the	DET
dem-15805	126	43	whole	whole	ADJ
dem-15805	126	44	period	period	NOUN
dem-15805	126	45	of	of	ADP
dem-15805	126	46	analysis	analysis	NOUN
dem-15805	126	47	0.20728	0.20728	NUM
dem-15805	126	48	wig	wig	NOUN
dem-15805	126	49	–	–	PUNCT
dem-15805	126	50	0.03399	0.03399	NUM
dem-15805	126	51	–	–	PUNCT
dem-15805	126	52	0.02817	0.02817	NUM
dem-15805	126	53	table	table	NOUN
dem-15805	126	54	12	12	NUM
dem-15805	126	55	.	.	PUNCT
dem-15805	127	1	values	value	NOUN
dem-15805	127	2	of	of	ADP
dem-15805	127	3	test	test	NOUN
dem-15805	127	4	statistics	statistic	NOUN
dem-15805	127	5	for	for	ADP
dem-15805	127	6	average	average	ADJ
dem-15805	127	7	ratios	ratio	NOUN
dem-15805	127	8	no	no	INTJ
dem-15805	127	9	.	.	PUNCT
dem-15805	127	10	of	of	ADP
dem-15805	127	11	formula	formula	NOUN
dem-15805	127	12	sharpe	sharpe	PROPN
dem-15805	127	13	treynor	treynor	PROPN
dem-15805	127	14	(	(	PUNCT
dem-15805	127	15	β	β	X
dem-15805	127	16	sharpe	sharpe	PROPN
dem-15805	127	17	)	)	PUNCT
dem-15805	127	18	treynor	treynor	NOUN
dem-15805	127	19	(	(	PUNCT
dem-15805	127	20	β	β	X
dem-15805	127	21	capm	capm	PROPN
dem-15805	127	22	)	)	PUNCT
dem-15805	128	1	i	i	PRON
dem-15805	128	2	round	round	VERB
dem-15805	128	3	ii	ii	PROPN
dem-15805	128	4	round	round	NOUN
dem-15805	129	1	i	i	PRON
dem-15805	129	2	round	round	VERB
dem-15805	129	3	ii	ii	PROPN
dem-15805	129	4	round	round	NOUN
dem-15805	130	1	i	i	PRON
dem-15805	130	2	round	round	VERB
dem-15805	130	3	ii	ii	PROPN
dem-15805	130	4	round	round	NOUN
dem-15805	130	5	(	(	PUNCT
dem-15805	130	6	2	2	NUM
dem-15805	130	7	)	)	PUNCT
dem-15805	130	8	1.6922	1.6922	NUM
dem-15805	130	9	1.4133	1.4133	NUM
dem-15805	130	10	2.7795	2.7795	NUM
dem-15805	130	11	2.5495	2.5495	NUM
dem-15805	130	12	2.9429	2.9429	NUM
dem-15805	130	13	2.8190	2.8190	NUM
dem-15805	130	14	(	(	PUNCT
dem-15805	130	15	2	2	NUM
dem-15805	130	16	)	)	PUNCT
dem-15805	130	17	3.9387	3.9387	NUM
dem-15805	130	18	2.6980	2.6980	NUM
dem-15805	130	19	5.4554	5.4554	NUM
dem-15805	130	20	4.0513	4.0513	NUM
dem-15805	130	21	5.5685	5.5685	NUM
dem-15805	130	22	4.2752	4.2752	NUM
dem-15805	130	23	(	(	PUNCT
dem-15805	130	24	1	1	NUM
dem-15805	130	25	)	)	PUNCT
dem-15805	130	26	1.5547	1.5547	NUM
dem-15805	130	27	1.2520	1.2520	NUM
dem-15805	130	28	2.4765	2.4765	NUM
dem-15805	130	29	2.1578	2.1578	NUM
dem-15805	130	30	2.6019	2.6019	NUM
dem-15805	130	31	2.3534	2.3534	NUM
dem-15805	130	32	note	note	NOUN
dem-15805	130	33	:	:	PUNCT
dem-15805	130	34	bold	bold	ADJ
dem-15805	130	35	letters	letter	NOUN
dem-15805	130	36	denote	denote	VERB
dem-15805	130	37	rejection	rejection	NOUN
dem-15805	130	38	of	of	ADP
dem-15805	130	39	null	null	ADJ
dem-15805	130	40	hypothesis	hypothesis	NOUN
dem-15805	130	41	.	.	PUNCT
dem-15805	131	1	conclusion	conclusion	NOUN
dem-15805	131	2	our	our	PRON
dem-15805	131	3	research	research	NOUN
dem-15805	131	4	show	show	VERB
dem-15805	131	5	that	that	SCONJ
dem-15805	131	6	in	in	ADP
dem-15805	131	7	the	the	DET
dem-15805	131	8	whole	whole	ADJ
dem-15805	131	9	period	period	NOUN
dem-15805	131	10	of	of	ADP
dem-15805	131	11	analysis	analysis	NOUN
dem-15805	131	12	(	(	PUNCT
dem-15805	131	13	covering	cover	VERB
dem-15805	131	14	more	more	ADJ
dem-15805	131	15	than	than	ADP
dem-15805	131	16	three	three	NUM
dem-15805	131	17	years	year	NOUN
dem-15805	131	18	)	)	PUNCT
dem-15805	131	19	,	,	PUNCT
dem-15805	131	20	statistically	statistically	ADV
dem-15805	131	21	significant	significant	ADJ
dem-15805	131	22	and	and	CCONJ
dem-15805	131	23	positive	positive	ADJ
dem-15805	131	24	returns	return	NOUN
dem-15805	131	25	were	be	AUX
dem-15805	131	26	generated	generate	VERB
dem-15805	131	27	only	only	ADV
dem-15805	131	28	by	by	ADP
dem-15805	131	29	the	the	DET
dem-15805	131	30	bond	bond	NOUN
dem-15805	131	31	market	market	NOUN
dem-15805	131	32	,	,	PUNCT
dem-15805	131	33	represented	represent	VERB
dem-15805	131	34	by	by	ADP
dem-15805	131	35	index	index	NOUN
dem-15805	131	36	tbsp	tbsp	NOUN
dem-15805	131	37	.	.	PUNCT
dem-15805	132	1	the	the	DET
dem-15805	132	2	mutual	mutual	ADJ
dem-15805	132	3	stabile	stabile	ADJ
dem-15805	132	4	growth	growth	NOUN
dem-15805	132	5	fund	fund	NOUN
dem-15805	132	6	fio	fio	NOUN
dem-15805	132	7	credit	credit	NOUN
dem-15805	132	8	agricole	agricole	NOUN
dem-15805	132	9	also	also	ADV
dem-15805	132	10	obtained	obtain	VERB
dem-15805	132	11	positive	positive	ADJ
dem-15805	132	12	rates	rate	NOUN
dem-15805	132	13	of	of	ADP
dem-15805	132	14	return	return	NOUN
dem-15805	132	15	but	but	CCONJ
dem-15805	132	16	only	only	ADV
dem-15805	132	17	in	in	ADP
dem-15805	132	18	the	the	DET
dem-15805	132	19	periods	period	NOUN
dem-15805	132	20	before	before	ADP
dem-15805	132	21	both	both	DET
dem-15805	132	22	rounds	round	NOUN
dem-15805	132	23	of	of	ADP
dem-15805	132	24	the	the	DET
dem-15805	132	25	presidential	presidential	ADJ
dem-15805	132	26	election	election	NOUN
dem-15805	132	27	.	.	PUNCT
dem-15805	133	1	taking	take	VERB
dem-15805	133	2	into	into	ADP
dem-15805	133	3	account	account	NOUN
dem-15805	133	4	other	other	ADJ
dem-15805	133	5	considered	consider	VERB
dem-15805	133	6	instruments	instrument	NOUN
dem-15805	133	7	we	we	PRON
dem-15805	133	8	can	can	AUX
dem-15805	133	9	not	not	PART
dem-15805	133	10	reject	reject	VERB
dem-15805	133	11	the	the	DET
dem-15805	133	12	hypotheses	hypothesis	NOUN
dem-15805	133	13	about	about	ADP
dem-15805	133	14	zero	zero	NUM
dem-15805	133	15	returns	return	NOUN
dem-15805	133	16	.	.	PUNCT
dem-15805	134	1	comparison	comparison	NOUN
dem-15805	134	2	of	of	ADP
dem-15805	134	3	the	the	DET
dem-15805	134	4	return	return	NOUN
dem-15805	134	5	and	and	CCONJ
dem-15805	134	6	risk	risk	NOUN
dem-15805	134	7	level	level	NOUN
dem-15805	134	8	let	let	VERB
dem-15805	134	9	us	we	PRON
dem-15805	134	10	conclude	conclude	VERB
dem-15805	134	11	that	that	SCONJ
dem-15805	134	12	:	:	PUNCT
dem-15805	134	13	1	1	X
dem-15805	134	14	.	.	X
dem-15805	134	15	returns	return	NOUN
dem-15805	134	16	from	from	ADP
dem-15805	134	17	treasury	treasury	PROPN
dem-15805	134	18	bonds	bond	NOUN
dem-15805	134	19	significantly	significantly	ADV
dem-15805	134	20	decreased	decrease	VERB
dem-15805	134	21	after	after	ADP
dem-15805	134	22	both	both	DET
dem-15805	134	23	rounds	round	NOUN
dem-15805	134	24	of	of	ADP
dem-15805	134	25	the	the	DET
dem-15805	134	26	presidential	presidential	ADJ
dem-15805	134	27	election	election	NOUN
dem-15805	134	28	,	,	PUNCT
dem-15805	134	29	2	2	NUM
dem-15805	134	30	.	.	X
dem-15805	134	31	risk	risk	NOUN
dem-15805	134	32	of	of	ADP
dem-15805	134	33	the	the	DET
dem-15805	134	34	bond	bond	NOUN
dem-15805	134	35	market	market	NOUN
dem-15805	134	36	significantly	significantly	ADV
dem-15805	134	37	decreased	decrease	VERB
dem-15805	134	38	after	after	ADP
dem-15805	134	39	entry	entry	NOUN
dem-15805	134	40	into	into	ADP
dem-15805	134	41	force	force	NOUN
dem-15805	134	42	500	500	NUM
dem-15805	134	43	+	+	CCONJ
dem-15805	134	44	family	family	NOUN
dem-15805	134	45	program	program	NOUN
dem-15805	134	46	,	,	PUNCT
dem-15805	134	47	3	3	X
dem-15805	134	48	.	.	NOUN
dem-15805	134	49	returns	return	NOUN
dem-15805	134	50	from	from	ADP
dem-15805	134	51	equity	equity	NOUN
dem-15805	134	52	market	market	NOUN
dem-15805	134	53	did	do	AUX
dem-15805	134	54	not	not	PART
dem-15805	134	55	significantly	significantly	ADV
dem-15805	134	56	change	change	VERB
dem-15805	134	57	but	but	CCONJ
dem-15805	134	58	rates	rate	NOUN
dem-15805	134	59	of	of	ADP
dem-15805	134	60	return	return	NOUN
dem-15805	134	61	were	be	AUX
dem-15805	134	62	lower	low	ADJ
dem-15805	134	63	after	after	SCONJ
dem-15805	134	64	both	both	DET
dem-15805	134	65	rounds	round	NOUN
dem-15805	134	66	of	of	ADP
dem-15805	134	67	the	the	DET
dem-15805	134	68	presidential	presidential	ADJ
dem-15805	134	69	election	election	NOUN
dem-15805	134	70	,	,	PUNCT
dem-15805	134	71	4	4	NUM
dem-15805	134	72	.	.	PUNCT
dem-15805	134	73	equity	equity	NOUN
dem-15805	134	74	market	market	NOUN
dem-15805	134	75	risk	risk	NOUN
dem-15805	134	76	increased	increase	VERB
dem-15805	134	77	after	after	ADP
dem-15805	134	78	both	both	DET
dem-15805	134	79	rounds	round	NOUN
dem-15805	134	80	of	of	ADP
dem-15805	134	81	the	the	DET
dem-15805	134	82	presidential	presidential	ADJ
dem-15805	134	83	election	election	NOUN
dem-15805	134	84	,	,	PUNCT
dem-15805	134	85	the	the	DET
dem-15805	134	86	parliamentary	parliamentary	ADJ
dem-15805	134	87	election	election	NOUN
dem-15805	134	88	and	and	CCONJ
dem-15805	134	89	appointment	appointment	NOUN
dem-15805	134	90	of	of	ADP
dem-15805	134	91	the	the	DET
dem-15805	134	92	government	government	NOUN
dem-15805	134	93	,	,	PUNCT
dem-15805	134	94	5	5	NUM
dem-15805	134	95	.	.	PUNCT
dem-15805	134	96	equity	equity	NOUN
dem-15805	134	97	market	market	NOUN
dem-15805	134	98	risk	risk	NOUN
dem-15805	134	99	decreased	decrease	VERB
dem-15805	134	100	after	after	ADP
dem-15805	134	101	the	the	DET
dem-15805	134	102	program	program	NOUN
dem-15805	134	103	500	500	NUM
dem-15805	134	104	+	+	CCONJ
dem-15805	134	105	started	start	VERB
dem-15805	134	106	.	.	PUNCT
dem-15805	135	1	how	how	SCONJ
dem-15805	135	2	the	the	DET
dem-15805	135	3	change	change	NOUN
dem-15805	135	4	of	of	ADP
dem-15805	135	5	governing	govern	VERB
dem-15805	135	6	party	party	NOUN
dem-15805	135	7	influences	influence	VERB
dem-15805	135	8	the	the	DET
dem-15805	135	9	efficiency	efficiency	NOUN
dem-15805	135	10	of	of	ADP
dem-15805	135	11	financial	financial	ADJ
dem-15805	135	12	market	market	NOUN
dem-15805	135	13	…	…	PUNCT
dem-15805	135	14	dynamic	dynamic	ADJ
dem-15805	135	15	econometric	econometric	ADJ
dem-15805	135	16	models	model	NOUN
dem-15805	135	17	17	17	NUM
dem-15805	135	18	(	(	PUNCT
dem-15805	135	19	2017	2017	NUM
dem-15805	135	20	)	)	PUNCT
dem-15805	135	21	147–159	147–159	NUM
dem-15805	135	22	159	159	NUM
dem-15805	135	23	references	reference	NOUN
dem-15805	135	24	białek	białek	PROPN
dem-15805	135	25	,	,	PUNCT
dem-15805	135	26	j.	j.	PROPN
dem-15805	135	27	(	(	PUNCT
dem-15805	135	28	2009	2009	NUM
dem-15805	135	29	)	)	PUNCT
dem-15805	135	30	,	,	PUNCT
dem-15805	135	31	konstrukcja	konstrukcja	PROPN
dem-15805	135	32	miar	miar	PROPN
dem-15805	135	33	efektywności	efektywności	PROPN
dem-15805	135	34	otwartych	otwartych	PROPN
dem-15805	135	35	funduszy	funduszy	ADJ
dem-15805	135	36	emerytalnych	emerytalnych	ADJ
dem-15805	135	37	(	(	PUNCT
dem-15805	135	38	construction	construction	NOUN
dem-15805	135	39	of	of	ADP
dem-15805	135	40	efficiency	efficiency	NOUN
dem-15805	135	41	measures	measure	NOUN
dem-15805	135	42	for	for	ADP
dem-15805	135	43	open	open	ADJ
dem-15805	135	44	pension	pension	NOUN
dem-15805	135	45	funds	fund	NOUN
dem-15805	135	46	)	)	PUNCT
dem-15805	135	47	,	,	PUNCT
dem-15805	136	1	wydawnictwo	wydawnictwo	PROPN
dem-15805	136	2	uł	uł	NOUN
dem-15805	136	3	,	,	PUNCT
dem-15805	136	4	łódź	łódź	PROPN
dem-15805	136	5	.	.	PROPN
dem-15805	136	6	blitz	blitz	PROPN
dem-15805	136	7	,	,	PUNCT
dem-15805	136	8	d.	d.	PROPN
dem-15805	136	9	,	,	PUNCT
dem-15805	136	10	van	van	PROPN
dem-15805	136	11	vliet	vliet	PROPN
dem-15805	136	12	,	,	PUNCT
dem-15805	136	13	p.	p.	NOUN
dem-15805	136	14	(	(	PUNCT
dem-15805	136	15	2007	2007	NUM
dem-15805	136	16	)	)	PUNCT
dem-15805	136	17	,	,	PUNCT
dem-15805	136	18	the	the	DET
dem-15805	136	19	volatility	volatility	NOUN
dem-15805	136	20	effect	effect	NOUN
dem-15805	136	21	,	,	PUNCT
dem-15805	136	22	journal	journal	NOUN
dem-15805	136	23	of	of	ADP
dem-15805	136	24	portfolio	portfolio	NOUN
dem-15805	136	25	management	management	NOUN
dem-15805	136	26	,	,	PUNCT
dem-15805	136	27	34(1	34(1	NUM
dem-15805	136	28	)	)	PUNCT
dem-15805	136	29	,	,	PUNCT
dem-15805	136	30	102–113	102–113	NUM
dem-15805	136	31	,	,	PUNCT
dem-15805	136	32	doi	doi	NOUN
dem-15805	136	33	:	:	PUNCT
dem-15805	136	34	https://doi.org/10.3905/jpm.2007.698039	https://doi.org/10.3905/jpm.2007.698039	NOUN
dem-15805	136	35	.	.	PUNCT
dem-15805	137	1	borowski	borowski	PROPN
dem-15805	137	2	,	,	PUNCT
dem-15805	137	3	k.	k.	PROPN
dem-15805	137	4	(	(	PUNCT
dem-15805	137	5	2014	2014	NUM
dem-15805	137	6	)	)	PUNCT
dem-15805	137	7	,	,	PUNCT
dem-15805	137	8	miary	miary	ADJ
dem-15805	137	9	efektywności	efektywności	PROPN
dem-15805	138	1	zarządzania	zarządzania	PROPN
dem-15805	138	2	na	na	PART
dem-15805	138	3	rynkach	rynkach	VERB
dem-15805	138	4	finansowych	finansowych	X
dem-15805	138	5	(	(	PUNCT
dem-15805	138	6	management	management	NOUN
dem-15805	138	7	efficiency	efficiency	NOUN
dem-15805	138	8	measures	measure	NOUN
dem-15805	138	9	on	on	ADP
dem-15805	138	10	financial	financial	ADJ
dem-15805	138	11	markets	market	NOUN
dem-15805	138	12	)	)	PUNCT
dem-15805	138	13	,	,	PUNCT
dem-15805	138	14	difin	difin	NOUN
dem-15805	138	15	,	,	PUNCT
dem-15805	138	16	warszawa	warszawa	PROPN
dem-15805	138	17	.	.	PUNCT
dem-15805	139	1	domański	domański	PROPN
dem-15805	139	2	,	,	PUNCT
dem-15805	139	3	c.	c.	PROPN
dem-15805	139	4	(	(	PUNCT
dem-15805	139	5	2011	2011	NUM
dem-15805	139	6	)	)	PUNCT
dem-15805	139	7	(	(	PUNCT
dem-15805	139	8	red	red	PROPN
dem-15805	139	9	.	.	PUNCT
dem-15805	139	10	)	)	PUNCT
dem-15805	139	11	,	,	PUNCT
dem-15805	139	12	nieklasyczne	nieklasyczne	VERB
dem-15805	139	13	metody	metody	ADJ
dem-15805	139	14	oceny	oceny	NOUN
dem-15805	140	1	efektywności	efektywności	INTJ
dem-15805	141	1	i	i	PRON
dem-15805	141	2	ryzyka	ryzyka	VERB
dem-15805	141	3	.	.	PUNCT
dem-15805	142	1	otwarte	otwarte	PROPN
dem-15805	142	2	fundusze	fundusze	PROPN
dem-15805	142	3	emerytalne	emerytalne	PROPN
dem-15805	142	4	(	(	PUNCT
dem-15805	142	5	non	non	ADJ
dem-15805	142	6	-	-	ADJ
dem-15805	142	7	classic	classic	ADJ
dem-15805	142	8	methods	method	NOUN
dem-15805	142	9	of	of	ADP
dem-15805	142	10	risk	risk	NOUN
dem-15805	142	11	and	and	CCONJ
dem-15805	142	12	performance	performance	NOUN
dem-15805	142	13	evaluation	evaluation	NOUN
dem-15805	142	14	.	.	PUNCT
dem-15805	143	1	open	open	ADJ
dem-15805	143	2	pension	pension	NOUN
dem-15805	143	3	funds	fund	NOUN
dem-15805	143	4	)	)	PUNCT
dem-15805	143	5	,	,	PUNCT
dem-15805	143	6	pwe	pwe	PROPN
dem-15805	143	7	,	,	PUNCT
dem-15805	143	8	warszawa	warszawa	PROPN
dem-15805	143	9	.	.	PUNCT
dem-15805	143	10	jobson	jobson	PROPN
dem-15805	143	11	,	,	PUNCT
dem-15805	143	12	j.	j.	PROPN
dem-15805	143	13	d.	d.	PROPN
dem-15805	143	14	,	,	PUNCT
dem-15805	143	15	korkie	korkie	PROPN
dem-15805	143	16	,	,	PUNCT
dem-15805	143	17	b.	b.	PROPN
dem-15805	143	18	m.	m.	PROPN
dem-15805	143	19	(	(	PUNCT
dem-15805	143	20	1981	1981	NUM
dem-15805	143	21	)	)	PUNCT
dem-15805	143	22	,	,	PUNCT
dem-15805	143	23	performance	performance	NOUN
dem-15805	143	24	hypothesis	hypothesis	NOUN
dem-15805	143	25	testing	testing	NOUN
dem-15805	143	26	with	with	ADP
dem-15805	143	27	the	the	DET
dem-15805	143	28	sharpe	sharpe	NOUN
dem-15805	143	29	and	and	CCONJ
dem-15805	143	30	treynor	treynor	NOUN
dem-15805	143	31	measures	measure	NOUN
dem-15805	143	32	,	,	PUNCT
dem-15805	143	33	journal	journal	NOUN
dem-15805	143	34	of	of	ADP
dem-15805	143	35	finance	finance	NOUN
dem-15805	143	36	,	,	PUNCT
dem-15805	143	37	36(4	36(4	NUM
dem-15805	143	38	)	)	PUNCT
dem-15805	143	39	,	,	PUNCT
dem-15805	143	40	889–908	889–908	NUM
dem-15805	143	41	,	,	PUNCT
dem-15805	143	42	doi	doi	NOUN
dem-15805	143	43	:	:	PUNCT
dem-15805	144	1	https://doi.org/10.1111/j.1540-6261.1981.tb04891.x	https://doi.org/10.1111/j.1540-6261.1981.tb04891.x	PROPN
dem-15805	144	2	.	.	PUNCT
dem-15805	144	3	kurach	kurach	PROPN
dem-15805	144	4	,	,	PUNCT
dem-15805	144	5	r.	r.	PROPN
dem-15805	144	6	,	,	PUNCT
dem-15805	144	7	papla	papla	NOUN
dem-15805	144	8	,	,	PUNCT
dem-15805	144	9	d.	d.	PROPN
dem-15805	144	10	(	(	PUNCT
dem-15805	144	11	2014	2014	NUM
dem-15805	144	12	)	)	PUNCT
dem-15805	144	13	,	,	PUNCT
dem-15805	144	14	inwestycje	inwestycje	PROPN
dem-15805	144	15	alternatywne	alternatywne	PROPN
dem-15805	144	16	w	w	PROPN
dem-15805	144	17	portfelach	portfelach	PROPN
dem-15805	144	18	otwartych	otwartych	VERB
dem-15805	144	19	funduszy	funduszy	ADJ
dem-15805	144	20	emerytalnych	emerytalnych	ADJ
dem-15805	144	21	(	(	PUNCT
dem-15805	144	22	alternative	alternative	ADJ
dem-15805	144	23	investments	investment	NOUN
dem-15805	144	24	in	in	ADP
dem-15805	144	25	open	open	ADJ
dem-15805	144	26	pension	pension	NOUN
dem-15805	144	27	funds	fund	NOUN
dem-15805	144	28	’	'	PUNCT
dem-15805	144	29	portfolios	portfolio	NOUN
dem-15805	144	30	)	)	PUNCT
dem-15805	144	31	,	,	PUNCT
dem-15805	144	32	optimum	optimum	NOUN
dem-15805	144	33	.	.	PUNCT
dem-15805	145	1	studia	studia	PROPN
dem-15805	145	2	ekonomiczne	ekonomiczne	PROPN
dem-15805	145	3	,	,	PUNCT
dem-15805	145	4	1(67	1(67	NUM
dem-15805	145	5	)	)	PUNCT
dem-15805	145	6	,	,	PUNCT
dem-15805	145	7	71–81	71–81	NUM
dem-15805	145	8	,	,	PUNCT
dem-15805	145	9	doi	doi	NOUN
dem-15805	145	10	:	:	PUNCT
dem-15805	145	11	https://doi.org/10.15290/ose.2014.01.67.06	https://doi.org/10.15290/ose.2014.01.67.06	NOUN
dem-15805	145	12	.	.	PUNCT
dem-15805	145	13	memmel	memmel	PROPN
dem-15805	145	14	,	,	PUNCT
dem-15805	145	15	c.	c.	PROPN
dem-15805	145	16	(	(	PUNCT
dem-15805	145	17	2003	2003	NUM
dem-15805	145	18	)	)	PUNCT
dem-15805	145	19	,	,	PUNCT
dem-15805	145	20	performance	performance	NOUN
dem-15805	145	21	hypothesis	hypothesis	NOUN
dem-15805	145	22	testing	testing	NOUN
dem-15805	145	23	with	with	ADP
dem-15805	145	24	the	the	DET
dem-15805	145	25	sharpe	sharpe	PROPN
dem-15805	145	26	ratio	ratio	NOUN
dem-15805	145	27	,	,	PUNCT
dem-15805	145	28	finance	finance	NOUN
dem-15805	145	29	letters	letter	NOUN
dem-15805	145	30	,	,	PUNCT
dem-15805	145	31	1(1	1(1	NUM
dem-15805	145	32	)	)	PUNCT
dem-15805	145	33	,	,	PUNCT
dem-15805	145	34	21–23	21–23	PROPN
dem-15805	145	35	.	.	PUNCT
dem-15805	145	36	perez	perez	PROPN
dem-15805	145	37	,	,	PUNCT
dem-15805	145	38	k.	k.	PROPN
dem-15805	145	39	(	(	PUNCT
dem-15805	145	40	2012	2012	NUM
dem-15805	145	41	)	)	PUNCT
dem-15805	145	42	,	,	PUNCT
dem-15805	145	43	efektywność	efektywność	PROPN
dem-15805	145	44	funduszy	funduszy	PROPN
dem-15805	145	45	inwestycyjnych	inwestycyjnych	PROPN
dem-15805	145	46	(	(	PUNCT
dem-15805	145	47	efficiency	efficiency	NOUN
dem-15805	145	48	of	of	ADP
dem-15805	145	49	mutual	mutual	ADJ
dem-15805	145	50	funds	fund	NOUN
dem-15805	145	51	)	)	PUNCT
dem-15805	145	52	,	,	PUNCT
dem-15805	145	53	difin	difin	NOUN
dem-15805	145	54	,	,	PUNCT
dem-15805	145	55	warszawa	warszawa	PROPN
dem-15805	145	56	.	.	PUNCT
dem-15805	146	1	witkowska	witkowska	PROPN
dem-15805	146	2	,	,	PUNCT
dem-15805	146	3	d.	d.	PROPN
dem-15805	146	4	(	(	PUNCT
dem-15805	146	5	2016	2016	NUM
dem-15805	146	6	)	)	PUNCT
dem-15805	146	7	,	,	PUNCT
dem-15805	146	8	zmiana	zmiana	PROPN
dem-15805	146	9	warunków	warunków	PROPN
dem-15805	146	10	funkcjonowania	funkcjonowania	PROPN
dem-15805	146	11	a	a	DET
dem-15805	146	12	efektywność	efektywność	NOUN
dem-15805	146	13	inwestycyjna	inwestycyjna	PROPN
dem-15805	146	14	otwartych	otwartych	PROPN
dem-15805	146	15	funduszy	funduszy	ADJ
dem-15805	146	16	emerytalnych	emerytalnych	ADJ
dem-15805	146	17	(	(	PUNCT
dem-15805	146	18	the	the	DET
dem-15805	146	19	change	change	NOUN
dem-15805	146	20	of	of	ADP
dem-15805	146	21	functioning	function	VERB
dem-15805	146	22	conditions	condition	NOUN
dem-15805	146	23	vs	vs	ADP
dem-15805	146	24	investment	investment	NOUN
dem-15805	146	25	efficiency	efficiency	NOUN
dem-15805	146	26	of	of	ADP
dem-15805	146	27	open	open	ADJ
dem-15805	146	28	pension	pension	NOUN
dem-15805	146	29	funds	fund	NOUN
dem-15805	146	30	)	)	PUNCT
dem-15805	146	31	,	,	PUNCT
dem-15805	146	32	wydawnictwo	wydawnictwo	PROPN
dem-15805	146	33	uł	uł	NOUN
dem-15805	146	34	,	,	PUNCT
dem-15805	146	35	łódź	łódź	PROPN
dem-15805	146	36	.	.	PUNCT
dem-15805	147	1	zamojska	zamojska	PROPN
dem-15805	147	2	,	,	PUNCT
dem-15805	147	3	a.	a.	NOUN
dem-15805	147	4	(	(	PUNCT
dem-15805	147	5	2012	2012	NUM
dem-15805	147	6	)	)	PUNCT
dem-15805	147	7	,	,	PUNCT
dem-15805	147	8	efektywność	efektywność	PROPN
dem-15805	147	9	funduszy	funduszy	PROPN
dem-15805	147	10	inwestycyjnych	inwestycyjnych	PROPN
dem-15805	147	11	w	w	PROPN
dem-15805	147	12	polsce	polsce	PROPN
dem-15805	147	13	.	.	PUNCT
dem-15805	148	1	studium	studium	PROPN
dem-15805	148	2	teoretycznoempiryczne	teoretycznoempiryczne	PROPN
dem-15805	148	3	(	(	PUNCT
dem-15805	148	4	efficiency	efficiency	NOUN
dem-15805	148	5	of	of	ADP
dem-15805	148	6	mutual	mutual	ADJ
dem-15805	148	7	funds	fund	NOUN
dem-15805	148	8	in	in	ADP
dem-15805	148	9	poland	poland	PROPN
dem-15805	148	10	.	.	PUNCT
dem-15805	149	1	theoretical	theoretical	ADJ
dem-15805	149	2	-	-	PUNCT
dem-15805	149	3	empirical	empirical	ADJ
dem-15805	149	4	study	study	NOUN
dem-15805	149	5	)	)	PUNCT
dem-15805	149	6	,	,	PUNCT
dem-15805	149	7	c.h	c.h	PROPN
dem-15805	149	8	.	.	PROPN
dem-15805	149	9	beck	beck	PROPN
dem-15805	149	10	,	,	PUNCT
dem-15805	149	11	warszawa	warszawa	PROPN
dem-15805	149	12	.	.	PUNCT
dem-15805	150	1	jak	jak	PROPN
dem-15805	150	2	wpływa	wpływa	PROPN
dem-15805	150	3	zmiana	zmiana	PROPN
dem-15805	150	4	partii	partii	VERB
dem-15805	150	5	rządzącej	rządzącej	ADP
dem-15805	150	6	na	na	ADP
dem-15805	150	7	efektywność	efektywność	PROPN
dem-15805	150	8	rynku	rynku	ADJ
dem-15805	150	9	finansowego	finansowego	PROPN
dem-15805	150	10	w	w	PROPN
dem-15805	150	11	polsce	polsce	PROPN
dem-15805	150	12	z	z	PROPN
dem-15805	150	13	a	a	DET
dem-15805	150	14	r	r	NOUN
dem-15805	150	15	y	y	PROPN
dem-15805	150	16	s	s	PROPN
dem-15805	150	17	t	t	NOUN
dem-15805	150	18	r	r	NOUN
dem-15805	150	19	e	e	PROPN
dem-15805	150	20	ś	ś	AUX
dem-15805	150	21	c	c	PROPN
dem-15805	150	22	i.	i.	NOUN
dem-15805	150	23	rynek	rynek	VERB
dem-15805	150	24	finansowy	finansowy	ADJ
dem-15805	150	25	wydaje	wydaje	NOUN
dem-15805	150	26	się	się	PROPN
dem-15805	150	27	być	być	PROPN
dem-15805	150	28	wrażliwym	wrażliwym	PROPN
dem-15805	150	29	na	na	NOUN
dem-15805	150	30	zmiany	zmiany	NOUN
dem-15805	150	31	polityczne	polityczne	NOUN
dem-15805	150	32	,	,	PUNCT
dem-15805	150	33	zwłaszcza	zwłaszcza	PROPN
dem-15805	150	34	gdy	gdy	PROPN
dem-15805	150	35	zmiana	zmiana	PROPN
dem-15805	150	36	partii	partii	VERB
dem-15805	150	37	rządzącej	rządzącej	ADV
dem-15805	150	38	wiąże	wiąże	VERB
dem-15805	150	39	się	się	PROPN
dem-15805	150	40	z	z	PROPN
dem-15805	150	41	zasadniczymi	zasadniczymi	PROPN
dem-15805	150	42	zmianami	zmianami	PROPN
dem-15805	150	43	koncepcji	koncepcji	PROPN
dem-15805	150	44	rozwoju	rozwoju	PROPN
dem-15805	150	45	gospodarczego	gospodarczego	PROPN
dem-15805	150	46	.	.	PUNCT
dem-15805	151	1	taka	taka	PROPN
dem-15805	151	2	sytuacja	sytuacja	PROPN
dem-15805	151	3	miała	miała	PROPN
dem-15805	151	4	miejsce	miejsce	PROPN
dem-15805	151	5	w	w	PROPN
dem-15805	151	6	polsce	polsce	PROPN
dem-15805	151	7	w	w	PROPN
dem-15805	151	8	2015	2015	NUM
dem-15805	151	9	roku	roku	NOUN
dem-15805	151	10	w	w	PROPN
dem-15805	151	11	wyniku	wyniku	PROPN
dem-15805	151	12	wyborów	wyborów	NOUN
dem-15805	151	13	prezydenckich	prezydenckich	NOUN
dem-15805	151	14	i	i	PRON
dem-15805	151	15	parlamentarnych	parlamentarnych	VERB
dem-15805	151	16	.	.	PUNCT
dem-15805	152	1	celem	celem	PROPN
dem-15805	152	2	naszych	naszych	PROPN
dem-15805	152	3	badań	badań	PROPN
dem-15805	152	4	jest	jest	PROPN
dem-15805	152	5	analiza	analiza	PROPN
dem-15805	152	6	zmian	zmian	PROPN
dem-15805	152	7	zachodzących	zachodzących	PROPN
dem-15805	152	8	na	na	ADP
dem-15805	152	9	rynku	rynku	ADJ
dem-15805	152	10	,	,	PUNCT
dem-15805	152	11	reprezentowanym	reprezentowanym	NOUN
dem-15805	152	12	przez	przez	NOUN
dem-15805	152	13	niektóre	niektóre	NOUN
dem-15805	152	14	stabilne	stabilne	NOUN
dem-15805	152	15	,	,	PUNCT
dem-15805	152	16	otwarte	otwarte	NOUN
dem-15805	152	17	fundusze	fundusze	PROPN
dem-15805	152	18	inwestycyjne	inwestycyjne	PROPN
dem-15805	152	19	oraz	oraz	PROPN
dem-15805	152	20	indeksy	indeksy	ADJ
dem-15805	152	21	giełdowe	giełdowe	NOUN
dem-15805	152	22	:	:	PUNCT
dem-15805	152	23	wig	wig	NOUN
dem-15805	152	24	i	i	PRON
dem-15805	152	25	tbsp	tbsp	VERB
dem-15805	152	26	.	.	PUNCT
dem-15805	153	1	przeprowadzono	przeprowadzono	PROPN
dem-15805	153	2	analizę	analizę	PROPN
dem-15805	153	3	,	,	PUNCT
dem-15805	153	4	stosując	stosując	PROPN
dem-15805	153	5	modele	modele	PROPN
dem-15805	153	6	jednoczynnikowe	jednoczynnikowe	PROPN
dem-15805	154	1	i	i	PROPN
dem-15805	154	2	capm	capm	PROPN
dem-15805	154	3	,	,	PUNCT
dem-15805	154	4	klasyczne	klasyczne	PROPN
dem-15805	154	5	miary	miary	ADJ
dem-15805	155	1	efektywności	efektywności	PROPN
dem-15805	156	1	inwestycji	inwestycji	NOUN
dem-15805	157	1	i	i	PRON
dem-15805	157	2	wnioskowanie	wnioskowanie	PROPN
dem-15805	157	3	statystyczne	statystyczne	PROPN
dem-15805	157	4	.	.	PUNCT
dem-15805	158	1	s	s	PART
dem-15805	159	1	ł	ł	PROPN
dem-15805	159	2	o	o	X
dem-15805	159	3	w	w	NOUN
dem-15805	159	4	a	a	DET
dem-15805	159	5	k	k	X
dem-15805	159	6	l	l	NOUN
dem-15805	159	7	u	u	NOUN
dem-15805	160	1	c	c	NOUN
dem-15805	160	2	z	z	NOUN
dem-15805	160	3	o	o	X
dem-15805	160	4	w	w	PROPN
dem-15805	161	1	e	e	NOUN
dem-15805	161	2	:	:	PUNCT
dem-15805	161	3	otwarte	otwarte	PROPN
dem-15805	161	4	fundusze	fundusze	PROPN
dem-15805	161	5	inwestycyjne	inwestycyjne	PROPN
dem-15805	161	6	stabilnego	stabilnego	ADV
dem-15805	161	7	wzrostu	wzrostu	PROPN
dem-15805	161	8	;	;	PUNCT
dem-15805	161	9	efektywność	efektywność	PROPN
dem-15805	161	10	inwestycji	inwestycji	PROPN
dem-15805	161	11	;	;	PUNCT
dem-15805	161	12	model	model	PROPN
dem-15805	161	13	sharpe	sharpe	PROPN
dem-15805	161	14	;	;	PUNCT
dem-15805	161	15	capm	capm	PROPN
dem-15805	161	16	;	;	PUNCT
dem-15805	161	17	sharpe	sharpe	PROPN
dem-15805	161	18	,	,	PUNCT
dem-15805	161	19	treynor	treynor	NOUN
dem-15805	161	20	i	i	PROPN
dem-15805	161	21	jensen	jensen	PROPN
dem-15805	161	22	.	.	PUNCT