id	sid	tid	token	lemma	pos
easat-8725	1	1	edelweiss	edelweiss	PROPN
easat-8725	1	2	applied	apply	VERB
easat-8725	1	3	science	science	NOUN
easat-8725	1	4	and	and	CCONJ
easat-8725	1	5	technology	technology	NOUN
easat-8725	1	6	issn	issn	PROPN
easat-8725	1	7	:	:	PUNCT
easat-8725	1	8	2576	2576	NUM
easat-8725	1	9	-	-	SYM
easat-8725	1	10	8484	8484	NUM
easat-8725	1	11	vol	vol	NOUN
easat-8725	1	12	.	.	PROPN
easat-8725	2	1	9	9	NUM
easat-8725	2	2	,	,	PUNCT
easat-8725	2	3	no	no	INTJ
easat-8725	2	4	.	.	NOUN
easat-8725	2	5	7	7	NUM
easat-8725	2	6	,	,	PUNCT
easat-8725	2	7	767	767	NUM
easat-8725	2	8	-	-	SYM
easat-8725	2	9	779	779	NUM
easat-8725	2	10	2025	2025	NUM
easat-8725	2	11	publisher	publisher	NOUN
easat-8725	2	12	:	:	PUNCT
easat-8725	2	13	learning	learn	VERB
easat-8725	2	14	gate	gate	NOUN
easat-8725	2	15	doi	doi	PROPN
easat-8725	2	16	:	:	PUNCT
easat-8725	2	17	10.55214/25768484.v9i7.8725	10.55214/25768484.v9i7.8725	NUM
easat-8725	2	18	©	©	PROPN
easat-8725	2	19	2025	2025	NUM
easat-8725	2	20	by	by	ADP
easat-8725	2	21	the	the	DET
easat-8725	2	22	authors	author	NOUN
easat-8725	2	23	;	;	PUNCT
easat-8725	2	24	licensee	licensee	PROPN
easat-8725	2	25	learning	learning	NOUN
easat-8725	2	26	gate	gate	NOUN
easat-8725	3	1	©	©	PROPN
easat-8725	3	2	2025	2025	NUM
easat-8725	3	3	by	by	ADP
easat-8725	3	4	the	the	DET
easat-8725	3	5	authors	author	NOUN
easat-8725	3	6	;	;	PUNCT
easat-8725	3	7	licensee	licensee	PROPN
easat-8725	3	8	learning	learning	NOUN
easat-8725	3	9	gate	gate	NOUN
easat-8725	3	10	history	history	NOUN
easat-8725	3	11	:	:	PUNCT
easat-8725	3	12	received	receive	VERB
easat-8725	3	13	:	:	PUNCT
easat-8725	3	14	9	9	NUM
easat-8725	3	15	may	may	PROPN
easat-8725	3	16	2025	2025	NUM
easat-8725	3	17	;	;	PUNCT
easat-8725	3	18	revised	revise	VERB
easat-8725	3	19	:	:	PUNCT
easat-8725	3	20	18	18	NUM
easat-8725	3	21	june	june	PROPN
easat-8725	3	22	2025	2025	NUM
easat-8725	3	23	;	;	PUNCT
easat-8725	3	24	accepted	accept	VERB
easat-8725	3	25	:	:	PUNCT
easat-8725	3	26	22	22	NUM
easat-8725	3	27	june	june	PROPN
easat-8725	3	28	2025	2025	NUM
easat-8725	3	29	;	;	PUNCT
easat-8725	3	30	published	publish	VERB
easat-8725	3	31	:	:	PUNCT
easat-8725	3	32	9	9	NUM
easat-8725	3	33	july	july	PROPN
easat-8725	3	34	2025	2025	NUM
easat-8725	3	35	*	*	PUNCT
easat-8725	3	36	correspondence	correspondence	NOUN
easat-8725	3	37	:	:	PUNCT
easat-8725	3	38	kfb.biiranee@gmail.com	kfb.biiranee@gmail.com	NOUN
easat-8725	3	39	impact	impact	NOUN
easat-8725	3	40	of	of	ADP
easat-8725	3	41	capital	capital	NOUN
easat-8725	3	42	market	market	NOUN
easat-8725	3	43	performance	performance	NOUN
easat-8725	3	44	on	on	ADP
easat-8725	3	45	foreign	foreign	ADJ
easat-8725	3	46	portfolio	portfolio	NOUN
easat-8725	3	47	investment	investment	NOUN
easat-8725	3	48	in	in	ADP
easat-8725	3	49	nigeria	nigeria	PROPN
easat-8725	3	50	s.	s.	PROPN
easat-8725	3	51	ogege1	ogege1	PROPN
easat-8725	3	52	,	,	PUNCT
easat-8725	3	53	k.f.b	k.f.b	PROPN
easat-8725	3	54	biiranee2	biiranee2	PROPN
easat-8725	3	55	*	*	PROPN
easat-8725	4	1	1,2department	1,2department	NUM
easat-8725	4	2	of	of	ADP
easat-8725	4	3	finance	finance	NOUN
easat-8725	4	4	,	,	PUNCT
easat-8725	4	5	university	university	NOUN
easat-8725	4	6	of	of	ADP
easat-8725	4	7	lagos	lagos	PROPN
easat-8725	4	8	,	,	PUNCT
easat-8725	4	9	akoka	akoka	NOUN
easat-8725	4	10	,	,	PUNCT
easat-8725	4	11	nigeria	nigeria	PRON
easat-8725	4	12	;	;	PUNCT
easat-8725	4	13	sogege@unilag.edu.ng	sogege@unilag.edu.ng	PROPN
easat-8725	4	14	(	(	PUNCT
easat-8725	4	15	s.o	s.o	PROPN
easat-8725	4	16	.	.	PROPN
easat-8725	4	17	)	)	PUNCT
easat-8725	5	1	kfb.biiranee@gmail.com	kfb.biiranee@gmail.com	PROPN
easat-8725	5	2	(	(	PUNCT
easat-8725	5	3	k.b	k.b	PROPN
easat-8725	5	4	.	.	PUNCT
easat-8725	5	5	)	)	PUNCT
easat-8725	6	1	abstract	abstract	NOUN
easat-8725	6	2	:	:	PUNCT
easat-8725	6	3	this	this	DET
easat-8725	6	4	study	study	NOUN
easat-8725	6	5	investigates	investigate	VERB
easat-8725	6	6	the	the	DET
easat-8725	6	7	impact	impact	NOUN
easat-8725	6	8	of	of	ADP
easat-8725	6	9	capital	capital	NOUN
easat-8725	6	10	market	market	NOUN
easat-8725	6	11	performance	performance	NOUN
easat-8725	6	12	on	on	ADP
easat-8725	6	13	foreign	foreign	ADJ
easat-8725	6	14	portfolio	portfolio	NOUN
easat-8725	6	15	investment	investment	NOUN
easat-8725	6	16	(	(	PUNCT
easat-8725	6	17	fpi	fpi	PROPN
easat-8725	6	18	)	)	PUNCT
easat-8725	6	19	in	in	ADP
easat-8725	6	20	nigeria	nigeria	PROPN
easat-8725	6	21	,	,	PUNCT
easat-8725	6	22	analyzing	analyze	VERB
easat-8725	6	23	key	key	ADJ
easat-8725	6	24	market	market	NOUN
easat-8725	6	25	indicators	indicator	NOUN
easat-8725	6	26	including	include	VERB
easat-8725	6	27	the	the	DET
easat-8725	6	28	all	all	DET
easat-8725	6	29	share	share	NOUN
easat-8725	6	30	index	index	NOUN
easat-8725	6	31	(	(	PUNCT
easat-8725	6	32	asi	asi	NOUN
easat-8725	6	33	)	)	PUNCT
easat-8725	6	34	,	,	PUNCT
easat-8725	6	35	market	market	NOUN
easat-8725	6	36	capitalization	capitalization	NOUN
easat-8725	6	37	(	(	PUNCT
easat-8725	6	38	mcap	mcap	NOUN
easat-8725	6	39	)	)	PUNCT
easat-8725	6	40	,	,	PUNCT
easat-8725	6	41	volume	volume	NOUN
easat-8725	6	42	of	of	ADP
easat-8725	6	43	trade	trade	NOUN
easat-8725	6	44	(	(	PUNCT
easat-8725	6	45	vot	vot	PROPN
easat-8725	6	46	)	)	PUNCT
easat-8725	6	47	,	,	PUNCT
easat-8725	6	48	value	value	NOUN
easat-8725	6	49	of	of	ADP
easat-8725	6	50	shares	share	NOUN
easat-8725	6	51	traded	trade	VERB
easat-8725	6	52	(	(	PUNCT
easat-8725	6	53	vst	vst	NOUN
easat-8725	6	54	)	)	PUNCT
easat-8725	6	55	,	,	PUNCT
easat-8725	6	56	and	and	CCONJ
easat-8725	6	57	exchange	exchange	NOUN
easat-8725	6	58	rate	rate	NOUN
easat-8725	6	59	(	(	PUNCT
easat-8725	6	60	exr	exr	PROPN
easat-8725	6	61	)	)	PUNCT
easat-8725	6	62	over	over	ADP
easat-8725	6	63	the	the	DET
easat-8725	6	64	period	period	NOUN
easat-8725	6	65	1987–2023	1987–2023	NUM
easat-8725	6	66	.	.	PUNCT
easat-8725	7	1	employing	employ	VERB
easat-8725	7	2	an	an	DET
easat-8725	7	3	ex	ex	X
easat-8725	7	4	post	post	X
easat-8725	7	5	facto	facto	X
easat-8725	7	6	research	research	NOUN
easat-8725	7	7	design	design	NOUN
easat-8725	7	8	and	and	CCONJ
easat-8725	7	9	time	time	NOUN
easat-8725	7	10	-	-	PUNCT
easat-8725	7	11	series	series	NOUN
easat-8725	7	12	data	datum	NOUN
easat-8725	7	13	analyzed	analyze	VERB
easat-8725	7	14	through	through	ADP
easat-8725	7	15	econometric	econometric	ADJ
easat-8725	7	16	techniques	technique	NOUN
easat-8725	7	17	such	such	ADJ
easat-8725	7	18	as	as	ADP
easat-8725	7	19	stationarity	stationarity	NOUN
easat-8725	7	20	testing	testing	NOUN
easat-8725	7	21	and	and	CCONJ
easat-8725	7	22	regression	regression	VERB
easat-8725	7	23	analysis	analysis	NOUN
easat-8725	7	24	in	in	ADP
easat-8725	7	25	eviews	eview	NOUN
easat-8725	7	26	,	,	PUNCT
easat-8725	7	27	the	the	DET
easat-8725	7	28	study	study	NOUN
easat-8725	7	29	reveals	reveal	VERB
easat-8725	7	30	significant	significant	ADJ
easat-8725	7	31	positive	positive	ADJ
easat-8725	7	32	relationships	relationship	NOUN
easat-8725	7	33	between	between	ADP
easat-8725	7	34	asi	asi	NOUN
easat-8725	7	35	,	,	PUNCT
easat-8725	7	36	mcap	mcap	NOUN
easat-8725	7	37	,	,	PUNCT
easat-8725	7	38	vot	vot	PROPN
easat-8725	7	39	,	,	PUNCT
easat-8725	7	40	and	and	CCONJ
easat-8725	7	41	fpi	fpi	PROPN
easat-8725	7	42	,	,	PUNCT
easat-8725	7	43	while	while	SCONJ
easat-8725	7	44	vst	vst	NOUN
easat-8725	7	45	exhibits	exhibit	VERB
easat-8725	7	46	a	a	DET
easat-8725	7	47	negative	negative	ADJ
easat-8725	7	48	association	association	NOUN
easat-8725	7	49	.	.	PUNCT
easat-8725	8	1	exchange	exchange	NOUN
easat-8725	8	2	rate	rate	NOUN
easat-8725	8	3	fluctuations	fluctuation	NOUN
easat-8725	8	4	also	also	ADV
easat-8725	8	5	significantly	significantly	ADV
easat-8725	8	6	influence	influence	VERB
easat-8725	8	7	fpi	fpi	PROPN
easat-8725	8	8	inflows	inflow	NOUN
easat-8725	8	9	,	,	PUNCT
easat-8725	8	10	albeit	albeit	SCONJ
easat-8725	8	11	with	with	ADP
easat-8725	8	12	lesser	less	ADJ
easat-8725	8	13	strength	strength	NOUN
easat-8725	8	14	.	.	PUNCT
easat-8725	9	1	the	the	DET
easat-8725	9	2	model	model	NOUN
easat-8725	9	3	demonstrates	demonstrate	VERB
easat-8725	9	4	a	a	DET
easat-8725	9	5	strong	strong	ADJ
easat-8725	9	6	explanatory	explanatory	ADJ
easat-8725	9	7	power	power	NOUN
easat-8725	9	8	with	with	ADP
easat-8725	9	9	an	an	DET
easat-8725	9	10	adjusted	adjust	VERB
easat-8725	9	11	rsquared	rsquare	VERB
easat-8725	9	12	of	of	ADP
easat-8725	9	13	0.985	0.985	NUM
easat-8725	9	14	,	,	PUNCT
easat-8725	9	15	confirming	confirm	VERB
easat-8725	9	16	the	the	DET
easat-8725	9	17	robustness	robustness	NOUN
easat-8725	9	18	of	of	ADP
easat-8725	9	19	the	the	DET
easat-8725	9	20	findings	finding	NOUN
easat-8725	9	21	.	.	PUNCT
easat-8725	10	1	results	result	NOUN
easat-8725	10	2	support	support	VERB
easat-8725	10	3	theoretical	theoretical	ADJ
easat-8725	10	4	perspectives	perspective	NOUN
easat-8725	10	5	including	include	VERB
easat-8725	10	6	the	the	DET
easat-8725	10	7	efficient	efficient	ADJ
easat-8725	10	8	market	market	NOUN
easat-8725	10	9	hypothesis	hypothesis	NOUN
easat-8725	10	10	and	and	CCONJ
easat-8725	10	11	portfolio	portfolio	NOUN
easat-8725	10	12	theory	theory	NOUN
easat-8725	10	13	,	,	PUNCT
easat-8725	10	14	highlighting	highlight	VERB
easat-8725	10	15	that	that	DET
easat-8725	10	16	market	market	NOUN
easat-8725	10	17	size	size	NOUN
easat-8725	10	18	,	,	PUNCT
easat-8725	10	19	liquidity	liquidity	NOUN
easat-8725	10	20	,	,	PUNCT
easat-8725	10	21	and	and	CCONJ
easat-8725	10	22	performance	performance	NOUN
easat-8725	10	23	are	be	AUX
easat-8725	10	24	critical	critical	ADJ
easat-8725	10	25	drivers	driver	NOUN
easat-8725	10	26	of	of	ADP
easat-8725	10	27	foreign	foreign	ADJ
easat-8725	10	28	investment	investment	NOUN
easat-8725	10	29	inflows	inflow	NOUN
easat-8725	10	30	.	.	PUNCT
easat-8725	11	1	policy	policy	NOUN
easat-8725	11	2	recommendations	recommendation	NOUN
easat-8725	11	3	emphasize	emphasize	VERB
easat-8725	11	4	the	the	DET
easat-8725	11	5	need	need	NOUN
easat-8725	11	6	to	to	PART
easat-8725	11	7	enhance	enhance	VERB
easat-8725	11	8	regulatory	regulatory	ADJ
easat-8725	11	9	frameworks	framework	NOUN
easat-8725	11	10	,	,	PUNCT
easat-8725	11	11	improve	improve	VERB
easat-8725	11	12	market	market	NOUN
easat-8725	11	13	liquidity	liquidity	NOUN
easat-8725	11	14	,	,	PUNCT
easat-8725	11	15	strengthen	strengthen	VERB
easat-8725	11	16	investor	investor	NOUN
easat-8725	11	17	education	education	NOUN
easat-8725	11	18	,	,	PUNCT
easat-8725	11	19	and	and	CCONJ
easat-8725	11	20	maintain	maintain	VERB
easat-8725	11	21	exchange	exchange	NOUN
easat-8725	11	22	rate	rate	NOUN
easat-8725	11	23	stability	stability	NOUN
easat-8725	11	24	to	to	PART
easat-8725	11	25	attract	attract	VERB
easat-8725	11	26	and	and	CCONJ
easat-8725	11	27	retain	retain	VERB
easat-8725	11	28	foreign	foreign	ADJ
easat-8725	11	29	portfolio	portfolio	NOUN
easat-8725	11	30	capital	capital	NOUN
easat-8725	11	31	.	.	PUNCT
easat-8725	12	1	these	these	DET
easat-8725	12	2	measures	measure	NOUN
easat-8725	12	3	are	be	AUX
easat-8725	12	4	vital	vital	ADJ
easat-8725	12	5	for	for	ADP
easat-8725	12	6	deepening	deepen	VERB
easat-8725	12	7	nigeria	nigeria	PROPN
easat-8725	12	8	’s	’s	PART
easat-8725	12	9	capital	capital	NOUN
easat-8725	12	10	market	market	NOUN
easat-8725	12	11	operations	operation	NOUN
easat-8725	12	12	and	and	CCONJ
easat-8725	12	13	fostering	foster	VERB
easat-8725	12	14	sustainable	sustainable	ADJ
easat-8725	12	15	economic	economic	ADJ
easat-8725	12	16	growth	growth	NOUN
easat-8725	12	17	.	.	PUNCT
easat-8725	13	1	keywords	keyword	NOUN
easat-8725	13	2	:	:	PUNCT
easat-8725	13	3	all	all	DET
easat-8725	13	4	share	share	NOUN
easat-8725	13	5	index	index	NOUN
easat-8725	13	6	,	,	PUNCT
easat-8725	13	7	capital	capital	NOUN
easat-8725	13	8	market	market	NOUN
easat-8725	13	9	,	,	PUNCT
easat-8725	13	10	foreign	foreign	ADJ
easat-8725	13	11	portfolio	portfolio	NOUN
easat-8725	13	12	investment	investment	NOUN
easat-8725	13	13	.	.	PUNCT
easat-8725	14	1	1	1	X
easat-8725	14	2	.	.	X
easat-8725	14	3	introduction	introduction	NOUN
easat-8725	14	4	capital	capital	NOUN
easat-8725	14	5	markets	market	NOUN
easat-8725	14	6	are	be	AUX
easat-8725	14	7	essential	essential	ADJ
easat-8725	14	8	engines	engine	NOUN
easat-8725	14	9	for	for	ADP
easat-8725	14	10	economic	economic	ADJ
easat-8725	14	11	development	development	NOUN
easat-8725	14	12	,	,	PUNCT
easat-8725	14	13	particularly	particularly	ADV
easat-8725	14	14	in	in	ADP
easat-8725	14	15	emerging	emerge	VERB
easat-8725	14	16	economies	economy	NOUN
easat-8725	14	17	where	where	SCONJ
easat-8725	14	18	financial	financial	ADJ
easat-8725	14	19	intermediation	intermediation	NOUN
easat-8725	14	20	often	often	ADV
easat-8725	14	21	faces	face	VERB
easat-8725	14	22	structural	structural	ADJ
easat-8725	14	23	constraints	constraint	NOUN
easat-8725	14	24	.	.	PUNCT
easat-8725	15	1	they	they	PRON
easat-8725	15	2	facilitate	facilitate	VERB
easat-8725	15	3	the	the	DET
easat-8725	15	4	mobilization	mobilization	NOUN
easat-8725	15	5	of	of	ADP
easat-8725	15	6	savings	saving	NOUN
easat-8725	15	7	,	,	PUNCT
easat-8725	15	8	efficient	efficient	ADJ
easat-8725	15	9	allocation	allocation	NOUN
easat-8725	15	10	of	of	ADP
easat-8725	15	11	resources	resource	NOUN
easat-8725	15	12	,	,	PUNCT
easat-8725	15	13	and	and	CCONJ
easat-8725	15	14	diversification	diversification	NOUN
easat-8725	15	15	of	of	ADP
easat-8725	15	16	investment	investment	NOUN
easat-8725	15	17	opportunities	opportunity	NOUN
easat-8725	15	18	.	.	PUNCT
easat-8725	16	1	in	in	ADP
easat-8725	16	2	the	the	DET
easat-8725	16	3	nigerian	nigerian	ADJ
easat-8725	16	4	context	context	NOUN
easat-8725	16	5	,	,	PUNCT
easat-8725	16	6	the	the	DET
easat-8725	16	7	capital	capital	NOUN
easat-8725	16	8	market	market	NOUN
easat-8725	16	9	’s	’s	PART
easat-8725	16	10	ability	ability	NOUN
easat-8725	16	11	to	to	PART
easat-8725	16	12	attract	attract	VERB
easat-8725	16	13	foreign	foreign	ADJ
easat-8725	16	14	portfolio	portfolio	NOUN
easat-8725	16	15	investment	investment	NOUN
easat-8725	16	16	(	(	PUNCT
easat-8725	16	17	fpi	fpi	PROPN
easat-8725	16	18	)	)	PUNCT
easat-8725	16	19	has	have	AUX
easat-8725	16	20	garnered	garner	VERB
easat-8725	16	21	significant	significant	ADJ
easat-8725	16	22	attention	attention	NOUN
easat-8725	16	23	due	due	ADP
easat-8725	16	24	to	to	ADP
easat-8725	16	25	the	the	DET
easat-8725	16	26	potential	potential	NOUN
easat-8725	16	27	of	of	ADP
easat-8725	16	28	these	these	DET
easat-8725	16	29	inflows	inflow	NOUN
easat-8725	16	30	to	to	PART
easat-8725	16	31	enhance	enhance	VERB
easat-8725	16	32	market	market	NOUN
easat-8725	16	33	liquidity	liquidity	NOUN
easat-8725	16	34	,	,	PUNCT
easat-8725	16	35	improve	improve	VERB
easat-8725	16	36	corporate	corporate	ADJ
easat-8725	16	37	governance	governance	NOUN
easat-8725	16	38	,	,	PUNCT
easat-8725	16	39	and	and	CCONJ
easat-8725	16	40	foster	foster	ADJ
easat-8725	16	41	integration	integration	NOUN
easat-8725	16	42	with	with	ADP
easat-8725	16	43	global	global	ADJ
easat-8725	16	44	financial	financial	ADJ
easat-8725	16	45	networks	network	NOUN
easat-8725	16	46	[	[	X
easat-8725	16	47	1	1	NUM
easat-8725	16	48	]	]	PUNCT
easat-8725	16	49	.	.	PUNCT
easat-8725	17	1	fpi	fpi	PROPN
easat-8725	17	2	is	be	AUX
easat-8725	17	3	especially	especially	ADV
easat-8725	17	4	critical	critical	ADJ
easat-8725	17	5	in	in	ADP
easat-8725	17	6	nigeria	nigeria	PROPN
easat-8725	17	7	’s	’s	PART
easat-8725	17	8	financial	financial	PROPN
easat-8725	17	9	ecosystem	ecosystem	NOUN
easat-8725	17	10	as	as	SCONJ
easat-8725	17	11	it	it	PRON
easat-8725	17	12	supplements	supplement	VERB
easat-8725	17	13	limited	limited	ADJ
easat-8725	17	14	domestic	domestic	ADJ
easat-8725	17	15	capital	capital	NOUN
easat-8725	17	16	,	,	PUNCT
easat-8725	17	17	contributes	contribute	VERB
easat-8725	17	18	to	to	ADP
easat-8725	17	19	the	the	DET
easat-8725	17	20	broadening	broadening	NOUN
easat-8725	17	21	of	of	ADP
easat-8725	17	22	the	the	DET
easat-8725	17	23	investor	investor	NOUN
easat-8725	17	24	base	base	NOUN
easat-8725	17	25	,	,	PUNCT
easat-8725	17	26	and	and	CCONJ
easat-8725	17	27	supports	support	VERB
easat-8725	17	28	economic	economic	ADJ
easat-8725	17	29	diversification	diversification	NOUN
easat-8725	17	30	efforts	effort	NOUN
easat-8725	17	31	.	.	PUNCT
easat-8725	18	1	consequently	consequently	ADV
easat-8725	18	2	,	,	PUNCT
easat-8725	18	3	understanding	understand	VERB
easat-8725	18	4	how	how	SCONJ
easat-8725	18	5	capital	capital	NOUN
easat-8725	18	6	market	market	NOUN
easat-8725	18	7	development	development	NOUN
easat-8725	18	8	influences	influence	VERB
easat-8725	18	9	the	the	DET
easat-8725	18	10	volume	volume	NOUN
easat-8725	18	11	and	and	CCONJ
easat-8725	18	12	stability	stability	NOUN
easat-8725	18	13	of	of	ADP
easat-8725	18	14	fpi	fpi	PROPN
easat-8725	18	15	is	be	AUX
easat-8725	18	16	vital	vital	ADJ
easat-8725	18	17	for	for	ADP
easat-8725	18	18	designing	design	VERB
easat-8725	18	19	policies	policy	NOUN
easat-8725	18	20	aimed	aim	VERB
easat-8725	18	21	at	at	ADP
easat-8725	18	22	sustaining	sustain	VERB
easat-8725	18	23	financial	financial	ADJ
easat-8725	18	24	sector	sector	NOUN
easat-8725	18	25	growth	growth	NOUN
easat-8725	18	26	and	and	CCONJ
easat-8725	18	27	overall	overall	ADJ
easat-8725	18	28	economic	economic	ADJ
easat-8725	18	29	advancement	advancement	NOUN
easat-8725	18	30	.	.	PUNCT
easat-8725	19	1	over	over	ADP
easat-8725	19	2	the	the	DET
easat-8725	19	3	last	last	ADJ
easat-8725	19	4	two	two	NUM
easat-8725	19	5	decades	decade	NOUN
easat-8725	19	6	,	,	PUNCT
easat-8725	19	7	nigeria	nigeria	PROPN
easat-8725	19	8	’s	’s	PART
easat-8725	19	9	capital	capital	NOUN
easat-8725	19	10	market	market	NOUN
easat-8725	19	11	has	have	AUX
easat-8725	19	12	undergone	undergo	VERB
easat-8725	19	13	a	a	DET
easat-8725	19	14	series	series	NOUN
easat-8725	19	15	of	of	ADP
easat-8725	19	16	reforms	reform	NOUN
easat-8725	19	17	intended	intend	VERB
easat-8725	19	18	to	to	PART
easat-8725	19	19	improve	improve	VERB
easat-8725	19	20	its	its	PRON
easat-8725	19	21	structure	structure	NOUN
easat-8725	19	22	,	,	PUNCT
easat-8725	19	23	transparency	transparency	NOUN
easat-8725	19	24	,	,	PUNCT
easat-8725	19	25	and	and	CCONJ
easat-8725	19	26	regulatory	regulatory	ADJ
easat-8725	19	27	environment	environment	NOUN
easat-8725	19	28	.	.	PUNCT
easat-8725	20	1	initiatives	initiative	NOUN
easat-8725	20	2	such	such	ADJ
easat-8725	20	3	as	as	ADP
easat-8725	20	4	the	the	DET
easat-8725	20	5	introduction	introduction	NOUN
easat-8725	20	6	of	of	ADP
easat-8725	20	7	electronic	electronic	ADJ
easat-8725	20	8	trading	trading	NOUN
easat-8725	20	9	platforms	platform	NOUN
easat-8725	20	10	,	,	PUNCT
easat-8725	20	11	enhanced	enhance	VERB
easat-8725	20	12	disclosure	disclosure	NOUN
easat-8725	20	13	requirements	requirement	NOUN
easat-8725	20	14	,	,	PUNCT
easat-8725	20	15	and	and	CCONJ
easat-8725	20	16	strengthened	strengthen	VERB
easat-8725	20	17	investor	investor	NOUN
easat-8725	20	18	protection	protection	NOUN
easat-8725	20	19	mechanisms	mechanism	NOUN
easat-8725	20	20	have	have	AUX
easat-8725	20	21	been	be	AUX
easat-8725	20	22	central	central	ADJ
easat-8725	20	23	to	to	ADP
easat-8725	20	24	these	these	DET
easat-8725	20	25	efforts	effort	NOUN
easat-8725	20	26	[	[	X
easat-8725	20	27	2	2	NUM
easat-8725	20	28	]	]	PUNCT
easat-8725	20	29	.	.	PUNCT
easat-8725	21	1	these	these	DET
easat-8725	21	2	reforms	reform	NOUN
easat-8725	21	3	have	have	AUX
easat-8725	21	4	coincided	coincide	VERB
easat-8725	21	5	with	with	ADP
easat-8725	21	6	increased	increase	VERB
easat-8725	21	7	participation	participation	NOUN
easat-8725	21	8	by	by	ADP
easat-8725	21	9	foreign	foreign	ADJ
easat-8725	21	10	investors	investor	NOUN
easat-8725	21	11	attracted	attract	VERB
easat-8725	21	12	by	by	ADP
easat-8725	21	13	the	the	DET
easat-8725	21	14	promising	promising	ADJ
easat-8725	21	15	returns	return	NOUN
easat-8725	21	16	and	and	CCONJ
easat-8725	21	17	nigeria	nigeria	PROPN
easat-8725	21	18	’s	’s	PART
easat-8725	21	19	status	status	NOUN
easat-8725	21	20	as	as	ADP
easat-8725	21	21	africa	africa	PROPN
easat-8725	21	22	’s	’s	PART
easat-8725	21	23	largest	large	ADJ
easat-8725	21	24	economy	economy	NOUN
easat-8725	21	25	.	.	PUNCT
easat-8725	22	1	however	however	ADV
easat-8725	22	2	,	,	PUNCT
easat-8725	22	3	the	the	DET
easat-8725	22	4	relationship	relationship	NOUN
easat-8725	22	5	between	between	ADP
easat-8725	22	6	capital	capital	NOUN
easat-8725	22	7	market	market	NOUN
easat-8725	22	8	development	development	NOUN
easat-8725	22	9	and	and	CCONJ
easat-8725	22	10	fpi	fpi	PROPN
easat-8725	22	11	inflows	inflow	NOUN
easat-8725	22	12	remains	remain	VERB
easat-8725	22	13	complex	complex	ADJ
easat-8725	22	14	and	and	CCONJ
easat-8725	22	15	somewhat	somewhat	ADV
easat-8725	22	16	paradoxical	paradoxical	ADJ
easat-8725	22	17	.	.	PUNCT
easat-8725	23	1	improved	improve	VERB
easat-8725	23	2	market	market	NOUN
easat-8725	23	3	capitalization	capitalization	NOUN
easat-8725	23	4	and	and	CCONJ
easat-8725	23	5	liquidity	liquidity	NOUN
easat-8725	23	6	theoretically	theoretically	ADV
easat-8725	23	7	signal	signal	VERB
easat-8725	23	8	a	a	DET
easat-8725	23	9	robust	robust	ADJ
easat-8725	23	10	market	market	NOUN
easat-8725	23	11	environment	environment	NOUN
easat-8725	23	12	conducive	conducive	ADJ
easat-8725	23	13	to	to	ADP
easat-8725	23	14	foreign	foreign	ADJ
easat-8725	23	15	investment	investment	NOUN
easat-8725	23	16	[	[	X
easat-8725	23	17	3	3	NUM
easat-8725	23	18	]	]	PUNCT
easat-8725	23	19	.	.	PUNCT
easat-8725	24	1	yet	yet	ADV
easat-8725	24	2	,	,	PUNCT
easat-8725	24	3	nigeria	nigeria	PROPN
easat-8725	24	4	’s	’s	PART
easat-8725	24	5	capital	capital	NOUN
easat-8725	24	6	market	market	NOUN
easat-8725	24	7	768	768	NUM
easat-8725	24	8	edelweiss	edelweiss	PROPN
easat-8725	24	9	applied	apply	VERB
easat-8725	24	10	science	science	NOUN
easat-8725	24	11	and	and	CCONJ
easat-8725	24	12	technology	technology	NOUN
easat-8725	24	13	issn	issn	PROPN
easat-8725	24	14	:	:	PUNCT
easat-8725	24	15	2576	2576	NUM
easat-8725	24	16	-	-	SYM
easat-8725	24	17	8484	8484	NUM
easat-8725	24	18	vol	vol	NOUN
easat-8725	24	19	.	.	PROPN
easat-8725	25	1	9	9	NUM
easat-8725	25	2	,	,	PUNCT
easat-8725	25	3	no	no	INTJ
easat-8725	25	4	.	.	NOUN
easat-8725	25	5	7	7	NUM
easat-8725	25	6	:	:	PUNCT
easat-8725	25	7	767	767	NUM
easat-8725	25	8	-	-	SYM
easat-8725	25	9	779	779	NUM
easat-8725	25	10	,	,	PUNCT
easat-8725	25	11	2025	2025	NUM
easat-8725	25	12	doi	doi	NOUN
easat-8725	25	13	:	:	PUNCT
easat-8725	25	14	10.55214/25768484.v9i7.8725	10.55214/25768484.v9i7.8725	NUM
easat-8725	25	15	©	©	PROPN
easat-8725	25	16	2025	2025	NUM
easat-8725	25	17	by	by	ADP
easat-8725	25	18	the	the	DET
easat-8725	25	19	authors	author	NOUN
easat-8725	25	20	;	;	PUNCT
easat-8725	25	21	licensee	licensee	PROPN
easat-8725	25	22	learning	learn	VERB
easat-8725	25	23	gate	gate	PROPN
easat-8725	25	24	continues	continue	VERB
easat-8725	25	25	to	to	PART
easat-8725	25	26	experience	experience	VERB
easat-8725	25	27	significant	significant	ADJ
easat-8725	25	28	volatility	volatility	NOUN
easat-8725	25	29	,	,	PUNCT
easat-8725	25	30	influenced	influence	VERB
easat-8725	25	31	by	by	ADP
easat-8725	25	32	macroeconomic	macroeconomic	ADJ
easat-8725	25	33	instability	instability	NOUN
easat-8725	25	34	,	,	PUNCT
easat-8725	25	35	exchange	exchange	NOUN
easat-8725	25	36	rate	rate	NOUN
easat-8725	25	37	fluctuations	fluctuation	NOUN
easat-8725	25	38	,	,	PUNCT
easat-8725	25	39	and	and	CCONJ
easat-8725	25	40	political	political	ADJ
easat-8725	25	41	uncertainties	uncertainty	NOUN
easat-8725	25	42	that	that	PRON
easat-8725	25	43	often	often	ADV
easat-8725	25	44	undermine	undermine	VERB
easat-8725	25	45	foreign	foreign	ADJ
easat-8725	25	46	investors	investor	NOUN
easat-8725	25	47	’	'	PUNCT
easat-8725	25	48	confidence	confidence	NOUN
easat-8725	25	49	[	[	X
easat-8725	25	50	4	4	NUM
easat-8725	25	51	]	]	PUNCT
easat-8725	25	52	.	.	PUNCT
easat-8725	26	1	despite	despite	SCONJ
easat-8725	26	2	the	the	DET
easat-8725	26	3	growing	grow	VERB
easat-8725	26	4	body	body	NOUN
easat-8725	26	5	of	of	ADP
easat-8725	26	6	research	research	NOUN
easat-8725	26	7	focusing	focus	VERB
easat-8725	26	8	on	on	ADP
easat-8725	26	9	the	the	DET
easat-8725	26	10	effects	effect	NOUN
easat-8725	26	11	of	of	ADP
easat-8725	26	12	foreign	foreign	ADJ
easat-8725	26	13	capital	capital	NOUN
easat-8725	26	14	on	on	ADP
easat-8725	26	15	nigeria	nigeria	PROPN
easat-8725	26	16	’s	’s	PART
easat-8725	26	17	capital	capital	NOUN
easat-8725	26	18	markets	market	NOUN
easat-8725	26	19	,	,	PUNCT
easat-8725	26	20	there	there	PRON
easat-8725	26	21	is	be	VERB
easat-8725	26	22	relatively	relatively	ADV
easat-8725	26	23	limited	limited	ADJ
easat-8725	26	24	emphasis	emphasis	NOUN
easat-8725	26	25	on	on	ADP
easat-8725	26	26	how	how	SCONJ
easat-8725	26	27	capital	capital	NOUN
easat-8725	26	28	market	market	NOUN
easat-8725	26	29	characteristics	characteristic	VERB
easat-8725	26	30	themselves	themselves	PRON
easat-8725	26	31	influence	influence	VERB
easat-8725	26	32	the	the	DET
easat-8725	26	33	scale	scale	NOUN
easat-8725	26	34	and	and	CCONJ
easat-8725	26	35	persistence	persistence	NOUN
easat-8725	26	36	of	of	ADP
easat-8725	26	37	foreign	foreign	ADJ
easat-8725	26	38	portfolio	portfolio	NOUN
easat-8725	26	39	investment	investment	NOUN
easat-8725	26	40	.	.	PUNCT
easat-8725	27	1	some	some	DET
easat-8725	27	2	studies	study	NOUN
easat-8725	27	3	,	,	PUNCT
easat-8725	27	4	such	such	ADJ
easat-8725	27	5	as	as	ADP
easat-8725	27	6	those	those	PRON
easat-8725	27	7	by	by	ADP
easat-8725	27	8	araoye	araoye	NOUN
easat-8725	27	9	[	[	X
easat-8725	27	10	5	5	NUM
easat-8725	27	11	]	]	PUNCT
easat-8725	27	12	and	and	CCONJ
easat-8725	27	13	osuka	osuka	PROPN
easat-8725	27	14	,	,	PUNCT
easat-8725	27	15	et	et	PROPN
easat-8725	27	16	al	al	PROPN
easat-8725	27	17	.	.	PUNCT
easat-8725	28	1	[	[	X
easat-8725	28	2	6	6	NUM
easat-8725	28	3	]	]	PUNCT
easat-8725	28	4	report	report	NOUN
easat-8725	28	5	positive	positive	ADJ
easat-8725	28	6	correlations	correlation	NOUN
easat-8725	28	7	between	between	ADP
easat-8725	28	8	market	market	NOUN
easat-8725	28	9	development	development	NOUN
easat-8725	28	10	indicators	indicator	NOUN
easat-8725	28	11	and	and	CCONJ
easat-8725	28	12	foreign	foreign	ADJ
easat-8725	28	13	inflows	inflow	NOUN
easat-8725	28	14	,	,	PUNCT
easat-8725	28	15	highlighting	highlight	VERB
easat-8725	28	16	that	that	SCONJ
easat-8725	28	17	enhancements	enhancement	NOUN
easat-8725	28	18	in	in	ADP
easat-8725	28	19	market	market	NOUN
easat-8725	28	20	size	size	NOUN
easat-8725	28	21	and	and	CCONJ
easat-8725	28	22	liquidity	liquidity	NOUN
easat-8725	28	23	can	can	AUX
easat-8725	28	24	attract	attract	VERB
easat-8725	28	25	fpi	fpi	PROPN
easat-8725	28	26	.	.	PUNCT
easat-8725	29	1	however	however	ADV
easat-8725	29	2	,	,	PUNCT
easat-8725	29	3	the	the	DET
easat-8725	29	4	sustainability	sustainability	NOUN
easat-8725	29	5	of	of	ADP
easat-8725	29	6	these	these	DET
easat-8725	29	7	inflows	inflow	NOUN
easat-8725	29	8	remains	remain	VERB
easat-8725	29	9	in	in	ADP
easat-8725	29	10	question	question	NOUN
easat-8725	29	11	,	,	PUNCT
easat-8725	29	12	as	as	SCONJ
easat-8725	29	13	foreign	foreign	ADJ
easat-8725	29	14	portfolio	portfolio	NOUN
easat-8725	29	15	investors	investor	NOUN
easat-8725	29	16	often	often	ADV
easat-8725	29	17	exhibit	exhibit	VERB
easat-8725	29	18	high	high	ADJ
easat-8725	29	19	sensitivity	sensitivity	NOUN
easat-8725	29	20	to	to	ADP
easat-8725	29	21	global	global	ADJ
easat-8725	29	22	risk	risk	NOUN
easat-8725	29	23	appetite	appetite	NOUN
easat-8725	29	24	and	and	CCONJ
easat-8725	29	25	domestic	domestic	ADJ
easat-8725	29	26	economic	economic	ADJ
easat-8725	29	27	conditions	condition	NOUN
easat-8725	29	28	,	,	PUNCT
easat-8725	29	29	responding	respond	VERB
easat-8725	29	30	swiftly	swiftly	ADV
easat-8725	29	31	to	to	ADP
easat-8725	29	32	short	short	ADJ
easat-8725	29	33	-	-	PUNCT
easat-8725	29	34	term	term	NOUN
easat-8725	29	35	incentives	incentive	NOUN
easat-8725	29	36	rather	rather	ADV
easat-8725	29	37	than	than	ADP
easat-8725	29	38	long	long	ADJ
easat-8725	29	39	-	-	PUNCT
easat-8725	29	40	term	term	NOUN
easat-8725	29	41	market	market	NOUN
easat-8725	29	42	fundamentals	fundamental	NOUN
easat-8725	29	43	[	[	X
easat-8725	29	44	7	7	NUM
easat-8725	29	45	]	]	PUNCT
easat-8725	29	46	.	.	PUNCT
easat-8725	30	1	this	this	PRON
easat-8725	30	2	points	point	VERB
easat-8725	30	3	to	to	ADP
easat-8725	30	4	a	a	DET
easat-8725	30	5	significant	significant	ADJ
easat-8725	30	6	gap	gap	NOUN
easat-8725	30	7	in	in	ADP
easat-8725	30	8	understanding	understand	VERB
easat-8725	30	9	the	the	DET
easat-8725	30	10	bidirectional	bidirectional	ADJ
easat-8725	30	11	and	and	CCONJ
easat-8725	30	12	dynamic	dynamic	ADJ
easat-8725	30	13	relationship	relationship	NOUN
easat-8725	30	14	between	between	ADP
easat-8725	30	15	capital	capital	NOUN
easat-8725	30	16	market	market	NOUN
easat-8725	30	17	development	development	NOUN
easat-8725	30	18	and	and	CCONJ
easat-8725	30	19	foreign	foreign	ADJ
easat-8725	30	20	investment	investment	NOUN
easat-8725	30	21	flows	flow	NOUN
easat-8725	30	22	,	,	PUNCT
easat-8725	30	23	especially	especially	ADV
easat-8725	30	24	in	in	ADP
easat-8725	30	25	economies	economy	NOUN
easat-8725	30	26	with	with	ADP
easat-8725	30	27	shallow	shallow	ADJ
easat-8725	30	28	financial	financial	ADJ
easat-8725	30	29	markets	market	NOUN
easat-8725	30	30	like	like	ADP
easat-8725	30	31	nigeria	nigeria	PROPN
easat-8725	30	32	.	.	PUNCT
easat-8725	31	1	moreover	moreover	ADV
easat-8725	31	2	,	,	PUNCT
easat-8725	31	3	institutional	institutional	ADJ
easat-8725	31	4	quality	quality	NOUN
easat-8725	31	5	and	and	CCONJ
easat-8725	31	6	regulatory	regulatory	ADJ
easat-8725	31	7	effectiveness	effectiveness	NOUN
easat-8725	31	8	emerge	emerge	VERB
easat-8725	31	9	as	as	ADP
easat-8725	31	10	critical	critical	ADJ
easat-8725	31	11	moderating	moderating	NOUN
easat-8725	31	12	factors	factor	NOUN
easat-8725	31	13	in	in	ADP
easat-8725	31	14	this	this	DET
easat-8725	31	15	relationship	relationship	NOUN
easat-8725	31	16	.	.	PUNCT
easat-8725	32	1	research	research	NOUN
easat-8725	32	2	by	by	ADP
easat-8725	32	3	boboye	boboye	NOUN
easat-8725	32	4	,	,	PUNCT
easat-8725	32	5	et	et	PROPN
easat-8725	32	6	al	al	PROPN
easat-8725	32	7	.	.	PUNCT
easat-8725	33	1	[	[	X
easat-8725	33	2	8	8	NUM
easat-8725	33	3	]	]	PUNCT
easat-8725	33	4	indicates	indicate	VERB
easat-8725	33	5	that	that	SCONJ
easat-8725	33	6	regulatory	regulatory	ADJ
easat-8725	33	7	weaknesses	weakness	NOUN
easat-8725	33	8	,	,	PUNCT
easat-8725	33	9	including	include	VERB
easat-8725	33	10	enforcement	enforcement	NOUN
easat-8725	33	11	inefficiencies	inefficiency	NOUN
easat-8725	33	12	and	and	CCONJ
easat-8725	33	13	governance	governance	NOUN
easat-8725	33	14	challenges	challenge	NOUN
easat-8725	33	15	,	,	PUNCT
easat-8725	33	16	can	can	AUX
easat-8725	33	17	deter	deter	VERB
easat-8725	33	18	sustained	sustained	ADJ
easat-8725	33	19	foreign	foreign	ADJ
easat-8725	33	20	investment	investment	NOUN
easat-8725	33	21	by	by	ADP
easat-8725	33	22	fostering	foster	VERB
easat-8725	33	23	market	market	NOUN
easat-8725	33	24	volatility	volatility	NOUN
easat-8725	33	25	and	and	CCONJ
easat-8725	33	26	increasing	increase	VERB
easat-8725	33	27	investment	investment	NOUN
easat-8725	33	28	risks	risk	NOUN
easat-8725	33	29	.	.	PUNCT
easat-8725	34	1	these	these	DET
easat-8725	34	2	institutional	institutional	ADJ
easat-8725	34	3	deficiencies	deficiency	NOUN
easat-8725	34	4	may	may	AUX
easat-8725	34	5	lead	lead	VERB
easat-8725	34	6	to	to	ADP
easat-8725	34	7	speculative	speculative	ADJ
easat-8725	34	8	capital	capital	NOUN
easat-8725	34	9	inflows	inflow	NOUN
easat-8725	34	10	that	that	PRON
easat-8725	34	11	exacerbate	exacerbate	VERB
easat-8725	34	12	market	market	NOUN
easat-8725	34	13	fluctuations	fluctuation	NOUN
easat-8725	34	14	,	,	PUNCT
easat-8725	34	15	rather	rather	ADV
easat-8725	34	16	than	than	ADP
easat-8725	34	17	fostering	foster	VERB
easat-8725	34	18	stable	stable	ADJ
easat-8725	34	19	growth	growth	NOUN
easat-8725	34	20	.	.	PUNCT
easat-8725	35	1	adding	add	VERB
easat-8725	35	2	to	to	ADP
easat-8725	35	3	this	this	DET
easat-8725	35	4	complexity	complexity	NOUN
easat-8725	35	5	,	,	PUNCT
easat-8725	35	6	mairafi	mairafi	PROPN
easat-8725	35	7	,	,	PUNCT
easat-8725	35	8	et	et	PROPN
easat-8725	35	9	al	al	PROPN
easat-8725	35	10	.	.	PUNCT
easat-8725	36	1	[	[	X
easat-8725	36	2	9	9	NUM
easat-8725	36	3	]	]	PUNCT
easat-8725	36	4	demonstrate	demonstrate	VERB
easat-8725	36	5	that	that	SCONJ
easat-8725	36	6	external	external	ADJ
easat-8725	36	7	factors	factor	NOUN
easat-8725	36	8	—	—	PUNCT
easat-8725	36	9	such	such	ADJ
easat-8725	36	10	as	as	ADP
easat-8725	36	11	monetary	monetary	ADJ
easat-8725	36	12	policy	policy	NOUN
easat-8725	36	13	shifts	shift	NOUN
easat-8725	36	14	and	and	CCONJ
easat-8725	36	15	risk	risk	NOUN
easat-8725	36	16	sentiment	sentiment	NOUN
easat-8725	36	17	in	in	ADP
easat-8725	36	18	developed	develop	VERB
easat-8725	36	19	economies	economy	NOUN
easat-8725	36	20	—	—	PUNCT
easat-8725	36	21	significantly	significantly	ADV
easat-8725	36	22	influence	influence	NOUN
easat-8725	36	23	fpi	fpi	PROPN
easat-8725	36	24	volumes	volume	NOUN
easat-8725	36	25	in	in	ADP
easat-8725	36	26	nigeria	nigeria	PROPN
easat-8725	36	27	.	.	PUNCT
easat-8725	37	1	this	this	DET
easat-8725	37	2	external	external	ADJ
easat-8725	37	3	vulnerability	vulnerability	NOUN
easat-8725	37	4	highlights	highlight	NOUN
easat-8725	37	5	that	that	PRON
easat-8725	37	6	capital	capital	NOUN
easat-8725	37	7	markets	market	NOUN
easat-8725	37	8	in	in	ADP
easat-8725	37	9	frontier	frontier	NOUN
easat-8725	37	10	economies	economy	NOUN
easat-8725	37	11	are	be	AUX
easat-8725	37	12	often	often	ADV
easat-8725	37	13	at	at	ADP
easat-8725	37	14	the	the	DET
easat-8725	37	15	mercy	mercy	NOUN
easat-8725	37	16	of	of	ADP
easat-8725	37	17	global	global	ADJ
easat-8725	37	18	financial	financial	ADJ
easat-8725	37	19	cycles	cycle	NOUN
easat-8725	37	20	,	,	PUNCT
easat-8725	37	21	necessitating	necessitate	VERB
easat-8725	37	22	a	a	DET
easat-8725	37	23	comprehensive	comprehensive	ADJ
easat-8725	37	24	approach	approach	NOUN
easat-8725	37	25	that	that	PRON
easat-8725	37	26	integrates	integrate	VERB
easat-8725	37	27	both	both	CCONJ
easat-8725	37	28	domestic	domestic	ADJ
easat-8725	37	29	and	and	CCONJ
easat-8725	37	30	international	international	ADJ
easat-8725	37	31	determinants	determinant	NOUN
easat-8725	37	32	when	when	SCONJ
easat-8725	37	33	analyzing	analyze	VERB
easat-8725	37	34	fpi	fpi	PROPN
easat-8725	37	35	dynamics	dynamic	NOUN
easat-8725	37	36	.	.	PUNCT
easat-8725	38	1	in	in	ADP
easat-8725	38	2	response	response	NOUN
easat-8725	38	3	to	to	ADP
easat-8725	38	4	these	these	DET
easat-8725	38	5	challenges	challenge	NOUN
easat-8725	38	6	and	and	CCONJ
easat-8725	38	7	gaps	gap	NOUN
easat-8725	38	8	,	,	PUNCT
easat-8725	38	9	this	this	DET
easat-8725	38	10	study	study	NOUN
easat-8725	38	11	seeks	seek	VERB
easat-8725	38	12	to	to	PART
easat-8725	38	13	provide	provide	VERB
easat-8725	38	14	a	a	DET
easat-8725	38	15	thorough	thorough	ADJ
easat-8725	38	16	examination	examination	NOUN
easat-8725	38	17	of	of	ADP
easat-8725	38	18	the	the	DET
easat-8725	38	19	impact	impact	NOUN
easat-8725	38	20	of	of	ADP
easat-8725	38	21	capital	capital	NOUN
easat-8725	38	22	market	market	NOUN
easat-8725	38	23	development	development	NOUN
easat-8725	38	24	on	on	ADP
easat-8725	38	25	foreign	foreign	ADJ
easat-8725	38	26	portfolio	portfolio	NOUN
easat-8725	38	27	investment	investment	NOUN
easat-8725	38	28	in	in	ADP
easat-8725	38	29	nigeria	nigeria	PROPN
easat-8725	38	30	.	.	PUNCT
easat-8725	39	1	employing	employ	VERB
easat-8725	39	2	advanced	advanced	ADJ
easat-8725	39	3	econometric	econometric	ADJ
easat-8725	39	4	techniques	technique	NOUN
easat-8725	39	5	,	,	PUNCT
easat-8725	39	6	including	include	VERB
easat-8725	39	7	vector	vector	NOUN
easat-8725	39	8	error	error	NOUN
easat-8725	39	9	correction	correction	NOUN
easat-8725	39	10	models	model	NOUN
easat-8725	39	11	(	(	PUNCT
easat-8725	39	12	vecm	vecm	NOUN
easat-8725	39	13	)	)	PUNCT
easat-8725	39	14	,	,	PUNCT
easat-8725	39	15	the	the	DET
easat-8725	39	16	study	study	NOUN
easat-8725	39	17	investigates	investigate	VERB
easat-8725	39	18	both	both	CCONJ
easat-8725	39	19	the	the	DET
easat-8725	39	20	short	short	ADJ
easat-8725	39	21	-	-	PUNCT
easat-8725	39	22	term	term	NOUN
easat-8725	39	23	fluctuations	fluctuation	NOUN
easat-8725	39	24	and	and	CCONJ
easat-8725	39	25	long	long	ADJ
easat-8725	39	26	-	-	PUNCT
easat-8725	39	27	term	term	NOUN
easat-8725	39	28	equilibrium	equilibrium	NOUN
easat-8725	39	29	relationships	relationship	NOUN
easat-8725	39	30	between	between	ADP
easat-8725	39	31	key	key	ADJ
easat-8725	39	32	capital	capital	NOUN
easat-8725	39	33	market	market	NOUN
easat-8725	39	34	indicators	indicator	NOUN
easat-8725	39	35	—	—	PUNCT
easat-8725	39	36	market	market	NOUN
easat-8725	39	37	capitalization	capitalization	NOUN
easat-8725	39	38	,	,	PUNCT
easat-8725	39	39	liquidity	liquidity	NOUN
easat-8725	39	40	,	,	PUNCT
easat-8725	39	41	and	and	CCONJ
easat-8725	39	42	turnover	turnover	NOUN
easat-8725	39	43	—	—	PUNCT
easat-8725	39	44	and	and	CCONJ
easat-8725	39	45	fpi	fpi	PROPN
easat-8725	39	46	inflows	inflow	NOUN
easat-8725	39	47	.	.	PUNCT
easat-8725	40	1	the	the	DET
easat-8725	40	2	analysis	analysis	NOUN
easat-8725	40	3	controls	control	VERB
easat-8725	40	4	for	for	ADP
easat-8725	40	5	relevant	relevant	ADJ
easat-8725	40	6	macroeconomic	macroeconomic	ADJ
easat-8725	40	7	variables	variable	NOUN
easat-8725	40	8	such	such	ADJ
easat-8725	40	9	as	as	ADP
easat-8725	40	10	exchange	exchange	NOUN
easat-8725	40	11	rate	rate	NOUN
easat-8725	40	12	volatility	volatility	NOUN
easat-8725	40	13	,	,	PUNCT
easat-8725	40	14	inflation	inflation	NOUN
easat-8725	40	15	,	,	PUNCT
easat-8725	40	16	and	and	CCONJ
easat-8725	40	17	political	political	ADJ
easat-8725	40	18	risk	risk	NOUN
easat-8725	40	19	to	to	PART
easat-8725	40	20	account	account	VERB
easat-8725	40	21	for	for	ADP
easat-8725	40	22	their	their	PRON
easat-8725	40	23	moderating	moderate	VERB
easat-8725	40	24	effects	effect	NOUN
easat-8725	40	25	[	[	X
easat-8725	40	26	10	10	NUM
easat-8725	40	27	,	,	PUNCT
easat-8725	40	28	11	11	NUM
easat-8725	40	29	]	]	PUNCT
easat-8725	40	30	.	.	PUNCT
easat-8725	41	1	by	by	ADP
easat-8725	41	2	adopting	adopt	VERB
easat-8725	41	3	this	this	DET
easat-8725	41	4	approach	approach	NOUN
easat-8725	41	5	,	,	PUNCT
easat-8725	41	6	the	the	DET
easat-8725	41	7	study	study	NOUN
easat-8725	41	8	aims	aim	VERB
easat-8725	41	9	to	to	PART
easat-8725	41	10	clarify	clarify	VERB
easat-8725	41	11	whether	whether	SCONJ
easat-8725	41	12	improvements	improvement	NOUN
easat-8725	41	13	in	in	ADP
easat-8725	41	14	capital	capital	NOUN
easat-8725	41	15	market	market	NOUN
easat-8725	41	16	infrastructure	infrastructure	NOUN
easat-8725	41	17	can	can	AUX
easat-8725	41	18	sustainably	sustainably	ADV
easat-8725	41	19	attract	attract	VERB
easat-8725	41	20	foreign	foreign	ADJ
easat-8725	41	21	portfolio	portfolio	NOUN
easat-8725	41	22	investors	investor	NOUN
easat-8725	41	23	,	,	PUNCT
easat-8725	41	24	thereby	thereby	ADV
easat-8725	41	25	contributing	contribute	VERB
easat-8725	41	26	to	to	ADP
easat-8725	41	27	financial	financial	ADJ
easat-8725	41	28	system	system	NOUN
easat-8725	41	29	resilience	resilience	NOUN
easat-8725	41	30	and	and	CCONJ
easat-8725	41	31	economic	economic	ADJ
easat-8725	41	32	growth	growth	NOUN
easat-8725	41	33	.	.	PUNCT
easat-8725	42	1	this	this	DET
easat-8725	42	2	research	research	NOUN
easat-8725	42	3	advances	advance	VERB
easat-8725	42	4	the	the	DET
easat-8725	42	5	literature	literature	NOUN
easat-8725	42	6	by	by	ADP
easat-8725	42	7	shifting	shift	VERB
easat-8725	42	8	the	the	DET
easat-8725	42	9	analytical	analytical	ADJ
easat-8725	42	10	focus	focus	NOUN
easat-8725	42	11	from	from	ADP
easat-8725	42	12	how	how	SCONJ
easat-8725	42	13	foreign	foreign	ADJ
easat-8725	42	14	investment	investment	NOUN
easat-8725	42	15	affects	affect	VERB
easat-8725	42	16	capital	capital	NOUN
easat-8725	42	17	markets	market	NOUN
easat-8725	42	18	to	to	ADP
easat-8725	42	19	exploring	explore	VERB
easat-8725	42	20	how	how	SCONJ
easat-8725	42	21	capital	capital	NOUN
easat-8725	42	22	market	market	NOUN
easat-8725	42	23	performance	performance	NOUN
easat-8725	42	24	influences	influence	VERB
easat-8725	42	25	foreign	foreign	ADJ
easat-8725	42	26	portfolio	portfolio	NOUN
easat-8725	42	27	investment	investment	NOUN
easat-8725	42	28	.	.	PUNCT
easat-8725	43	1	such	such	DET
easat-8725	43	2	a	a	DET
easat-8725	43	3	perspective	perspective	NOUN
easat-8725	43	4	is	be	AUX
easat-8725	43	5	crucial	crucial	ADJ
easat-8725	43	6	for	for	ADP
easat-8725	43	7	emerging	emerge	VERB
easat-8725	43	8	economies	economy	NOUN
easat-8725	43	9	like	like	ADP
easat-8725	43	10	nigeria	nigeria	PROPN
easat-8725	43	11	,	,	PUNCT
easat-8725	43	12	where	where	SCONJ
easat-8725	43	13	financial	financial	ADJ
easat-8725	43	14	markets	market	NOUN
easat-8725	43	15	remain	remain	VERB
easat-8725	43	16	relatively	relatively	ADV
easat-8725	43	17	underdeveloped	underdeveloped	ADJ
easat-8725	43	18	and	and	CCONJ
easat-8725	43	19	vulnerable	vulnerable	ADJ
easat-8725	43	20	to	to	ADP
easat-8725	43	21	external	external	ADJ
easat-8725	43	22	shocks	shock	NOUN
easat-8725	43	23	.	.	PUNCT
easat-8725	44	1	the	the	DET
easat-8725	44	2	findings	finding	NOUN
easat-8725	44	3	are	be	AUX
easat-8725	44	4	anticipated	anticipate	VERB
easat-8725	44	5	to	to	PART
easat-8725	44	6	provide	provide	VERB
easat-8725	44	7	actionable	actionable	ADJ
easat-8725	44	8	insights	insight	NOUN
easat-8725	44	9	for	for	ADP
easat-8725	44	10	policymakers	policymaker	NOUN
easat-8725	44	11	,	,	PUNCT
easat-8725	44	12	enabling	enable	VERB
easat-8725	44	13	them	they	PRON
easat-8725	44	14	to	to	PART
easat-8725	44	15	tailor	tailor	VERB
easat-8725	44	16	reforms	reform	NOUN
easat-8725	44	17	that	that	PRON
easat-8725	44	18	enhance	enhance	VERB
easat-8725	44	19	market	market	NOUN
easat-8725	44	20	stability	stability	NOUN
easat-8725	44	21	and	and	CCONJ
easat-8725	44	22	investor	investor	NOUN
easat-8725	44	23	confidence	confidence	NOUN
easat-8725	44	24	.	.	PUNCT
easat-8725	45	1	ultimately	ultimately	ADV
easat-8725	45	2	,	,	PUNCT
easat-8725	45	3	this	this	DET
easat-8725	45	4	study	study	NOUN
easat-8725	45	5	contributes	contribute	VERB
easat-8725	45	6	to	to	ADP
easat-8725	45	7	the	the	DET
easat-8725	45	8	ongoing	ongoing	ADJ
easat-8725	45	9	discourse	discourse	NOUN
easat-8725	45	10	on	on	ADP
easat-8725	45	11	financial	financial	ADJ
easat-8725	45	12	globalization	globalization	NOUN
easat-8725	45	13	,	,	PUNCT
easat-8725	45	14	market	market	NOUN
easat-8725	45	15	liberalization	liberalization	NOUN
easat-8725	45	16	,	,	PUNCT
easat-8725	45	17	and	and	CCONJ
easat-8725	45	18	sustainable	sustainable	ADJ
easat-8725	45	19	economic	economic	ADJ
easat-8725	45	20	development	development	NOUN
easat-8725	45	21	in	in	ADP
easat-8725	45	22	frontier	frontier	NOUN
easat-8725	45	23	markets	market	NOUN
easat-8725	45	24	.	.	PUNCT
easat-8725	46	1	understanding	understand	VERB
easat-8725	46	2	the	the	DET
easat-8725	46	3	mechanisms	mechanism	NOUN
easat-8725	46	4	through	through	ADP
easat-8725	46	5	which	which	PRON
easat-8725	46	6	nigeria	nigeria	PROPN
easat-8725	46	7	’s	’s	PART
easat-8725	46	8	capital	capital	NOUN
easat-8725	46	9	market	market	NOUN
easat-8725	46	10	can	can	AUX
easat-8725	46	11	attract	attract	VERB
easat-8725	46	12	and	and	CCONJ
easat-8725	46	13	retain	retain	VERB
easat-8725	46	14	stable	stable	ADJ
easat-8725	46	15	foreign	foreign	ADJ
easat-8725	46	16	portfolio	portfolio	NOUN
easat-8725	46	17	investment	investment	NOUN
easat-8725	46	18	is	be	AUX
easat-8725	46	19	critical	critical	ADJ
easat-8725	46	20	in	in	ADP
easat-8725	46	21	today	today	NOUN
easat-8725	46	22	’s	’s	PART
easat-8725	46	23	context	context	NOUN
easat-8725	46	24	of	of	ADP
easat-8725	46	25	heightened	heightened	ADJ
easat-8725	46	26	global	global	ADJ
easat-8725	46	27	financial	financial	ADJ
easat-8725	46	28	volatility	volatility	NOUN
easat-8725	46	29	and	and	CCONJ
easat-8725	46	30	economic	economic	ADJ
easat-8725	46	31	uncertainty	uncertainty	NOUN
easat-8725	46	32	.	.	PUNCT
easat-8725	47	1	by	by	ADP
easat-8725	47	2	clarifying	clarify	VERB
easat-8725	47	3	these	these	DET
easat-8725	47	4	relationships	relationship	NOUN
easat-8725	47	5	,	,	PUNCT
easat-8725	47	6	this	this	DET
easat-8725	47	7	study	study	NOUN
easat-8725	47	8	aims	aim	VERB
easat-8725	47	9	to	to	PART
easat-8725	47	10	support	support	VERB
easat-8725	47	11	policy	policy	NOUN
easat-8725	47	12	frameworks	framework	NOUN
easat-8725	47	13	that	that	PRON
easat-8725	47	14	promote	promote	VERB
easat-8725	47	15	robust	robust	ADJ
easat-8725	47	16	capital	capital	NOUN
easat-8725	47	17	markets	market	NOUN
easat-8725	47	18	,	,	PUNCT
easat-8725	47	19	mitigate	mitigate	VERB
easat-8725	47	20	risks	risk	NOUN
easat-8725	47	21	,	,	PUNCT
easat-8725	47	22	and	and	CCONJ
easat-8725	47	23	harness	harness	ADJ
easat-8725	47	24	foreign	foreign	ADJ
easat-8725	47	25	investment	investment	NOUN
easat-8725	47	26	for	for	ADP
easat-8725	47	27	inclusive	inclusive	ADJ
easat-8725	47	28	economic	economic	ADJ
easat-8725	47	29	progress	progress	NOUN
easat-8725	47	30	.	.	PUNCT
easat-8725	48	1	in	in	ADP
easat-8725	48	2	doing	do	VERB
easat-8725	48	3	so	so	ADV
easat-8725	48	4	,	,	PUNCT
easat-8725	48	5	it	it	PRON
easat-8725	48	6	reinforces	reinforce	VERB
easat-8725	48	7	nigeria	nigeria	PROPN
easat-8725	48	8	’s	’s	PART
easat-8725	48	9	strategic	strategic	ADJ
easat-8725	48	10	goal	goal	NOUN
easat-8725	48	11	of	of	ADP
easat-8725	48	12	establishing	establish	VERB
easat-8725	48	13	a	a	DET
easat-8725	48	14	competitive	competitive	ADJ
easat-8725	48	15	,	,	PUNCT
easat-8725	48	16	resilient	resilient	ADJ
easat-8725	48	17	financial	financial	ADJ
easat-8725	48	18	sector	sector	NOUN
easat-8725	48	19	that	that	PRON
easat-8725	48	20	can	can	AUX
easat-8725	48	21	serve	serve	VERB
easat-8725	48	22	as	as	ADP
easat-8725	48	23	a	a	DET
easat-8725	48	24	foundation	foundation	NOUN
easat-8725	48	25	for	for	ADP
easat-8725	48	26	long	long	ADJ
easat-8725	48	27	-	-	PUNCT
easat-8725	48	28	term	term	NOUN
easat-8725	48	29	development	development	NOUN
easat-8725	48	30	.	.	PUNCT
easat-8725	49	1	2	2	X
easat-8725	49	2	.	.	X
easat-8725	49	3	literature	literature	NOUN
easat-8725	49	4	review	review	VERB
easat-8725	49	5	2.1	2.1	NUM
easat-8725	49	6	.	.	PUNCT
easat-8725	50	1	theoretical	theoretical	ADJ
easat-8725	50	2	review	review	NOUN
easat-8725	50	3	2.1.1	2.1.1	NUM
easat-8725	50	4	.	.	PUNCT
easat-8725	51	1	efficient	efficient	ADJ
easat-8725	51	2	market	market	NOUN
easat-8725	51	3	hypothesis	hypothesis	NOUN
easat-8725	51	4	(	(	PUNCT
easat-8725	51	5	emh	emh	PROPN
easat-8725	51	6	)	)	PUNCT
easat-8725	51	7	the	the	DET
easat-8725	51	8	efficient	efficient	ADJ
easat-8725	51	9	market	market	NOUN
easat-8725	51	10	hypothesis	hypothesis	NOUN
easat-8725	51	11	(	(	PUNCT
easat-8725	51	12	emh	emh	PROPN
easat-8725	51	13	)	)	PUNCT
easat-8725	51	14	,	,	PUNCT
easat-8725	51	15	pioneered	pioneer	VERB
easat-8725	51	16	by	by	ADP
easat-8725	51	17	fama	fama	PROPN
easat-8725	52	1	[	[	X
easat-8725	52	2	12	12	NUM
easat-8725	52	3	]	]	PUNCT
easat-8725	52	4	posits	posit	NOUN
easat-8725	52	5	that	that	SCONJ
easat-8725	52	6	financial	financial	ADJ
easat-8725	52	7	markets	market	NOUN
easat-8725	52	8	are	be	AUX
easat-8725	52	9	informationally	informationally	ADV
easat-8725	52	10	efficient	efficient	ADJ
easat-8725	52	11	,	,	PUNCT
easat-8725	52	12	meaning	mean	VERB
easat-8725	52	13	that	that	SCONJ
easat-8725	52	14	security	security	NOUN
easat-8725	52	15	prices	price	NOUN
easat-8725	52	16	at	at	ADP
easat-8725	52	17	any	any	DET
easat-8725	52	18	time	time	NOUN
easat-8725	52	19	fully	fully	ADV
easat-8725	52	20	reflect	reflect	VERB
easat-8725	52	21	all	all	DET
easat-8725	52	22	available	available	ADJ
easat-8725	52	23	information	information	NOUN
easat-8725	52	24	.	.	PUNCT
easat-8725	53	1	769	769	NUM
easat-8725	53	2	edelweiss	edelweiss	PROPN
easat-8725	53	3	applied	apply	VERB
easat-8725	53	4	science	science	NOUN
easat-8725	53	5	and	and	CCONJ
easat-8725	53	6	technology	technology	NOUN
easat-8725	53	7	issn	issn	PROPN
easat-8725	53	8	:	:	PUNCT
easat-8725	53	9	2576	2576	NUM
easat-8725	53	10	-	-	SYM
easat-8725	53	11	8484	8484	NUM
easat-8725	53	12	vol	vol	NOUN
easat-8725	53	13	.	.	PROPN
easat-8725	54	1	9	9	NUM
easat-8725	54	2	,	,	PUNCT
easat-8725	54	3	no	no	INTJ
easat-8725	54	4	.	.	NOUN
easat-8725	54	5	7	7	NUM
easat-8725	54	6	:	:	PUNCT
easat-8725	54	7	767	767	NUM
easat-8725	54	8	-	-	SYM
easat-8725	54	9	779	779	NUM
easat-8725	54	10	,	,	PUNCT
easat-8725	54	11	2025	2025	NUM
easat-8725	54	12	doi	doi	NOUN
easat-8725	54	13	:	:	PUNCT
easat-8725	54	14	10.55214/25768484.v9i7.8725	10.55214/25768484.v9i7.8725	NUM
easat-8725	54	15	©	©	PROPN
easat-8725	54	16	2025	2025	NUM
easat-8725	54	17	by	by	ADP
easat-8725	54	18	the	the	DET
easat-8725	54	19	authors	author	NOUN
easat-8725	54	20	;	;	PUNCT
easat-8725	54	21	licensee	licensee	PROPN
easat-8725	54	22	learning	learning	PROPN
easat-8725	54	23	gate	gate	PROPN
easat-8725	54	24	emh	emh	PROPN
easat-8725	54	25	classifies	classify	VERB
easat-8725	54	26	market	market	NOUN
easat-8725	54	27	efficiency	efficiency	NOUN
easat-8725	54	28	into	into	ADP
easat-8725	54	29	three	three	NUM
easat-8725	54	30	forms	form	NOUN
easat-8725	54	31	:	:	PUNCT
easat-8725	54	32	weak	weak	ADJ
easat-8725	54	33	,	,	PUNCT
easat-8725	54	34	semi	semi	ADJ
easat-8725	54	35	-	-	ADJ
easat-8725	54	36	strong	strong	ADJ
easat-8725	54	37	,	,	PUNCT
easat-8725	54	38	and	and	CCONJ
easat-8725	54	39	strong	strong	ADJ
easat-8725	54	40	,	,	PUNCT
easat-8725	54	41	each	each	PRON
easat-8725	54	42	representing	represent	VERB
easat-8725	54	43	the	the	DET
easat-8725	54	44	degree	degree	NOUN
easat-8725	54	45	to	to	PART
easat-8725	54	46	which	which	PRON
easat-8725	54	47	historical	historical	ADJ
easat-8725	54	48	,	,	PUNCT
easat-8725	54	49	public	public	ADJ
easat-8725	54	50	,	,	PUNCT
easat-8725	54	51	and	and	CCONJ
easat-8725	54	52	private	private	ADJ
easat-8725	54	53	information	information	NOUN
easat-8725	54	54	are	be	AUX
easat-8725	54	55	incorporated	incorporate	VERB
easat-8725	54	56	into	into	ADP
easat-8725	54	57	asset	asset	NOUN
easat-8725	54	58	prices	price	NOUN
easat-8725	54	59	,	,	PUNCT
easat-8725	54	60	respectively	respectively	ADV
easat-8725	54	61	[	[	X
easat-8725	54	62	12	12	NUM
easat-8725	54	63	,	,	PUNCT
easat-8725	54	64	13	13	NUM
easat-8725	54	65	]	]	PUNCT
easat-8725	54	66	.	.	PUNCT
easat-8725	55	1	in	in	ADP
easat-8725	55	2	highly	highly	ADV
easat-8725	55	3	efficient	efficient	ADJ
easat-8725	55	4	markets	market	NOUN
easat-8725	55	5	,	,	PUNCT
easat-8725	55	6	abnormal	abnormal	ADJ
easat-8725	55	7	returns	return	NOUN
easat-8725	55	8	are	be	AUX
easat-8725	55	9	unattainable	unattainable	ADJ
easat-8725	55	10	as	as	SCONJ
easat-8725	55	11	prices	price	NOUN
easat-8725	55	12	adjust	adjust	VERB
easat-8725	55	13	instantaneously	instantaneously	ADV
easat-8725	55	14	to	to	ADP
easat-8725	55	15	new	new	ADJ
easat-8725	55	16	data	datum	NOUN
easat-8725	55	17	[	[	X
easat-8725	55	18	14	14	NUM
easat-8725	55	19	]	]	PUNCT
easat-8725	55	20	.	.	PUNCT
easat-8725	56	1	this	this	DET
easat-8725	56	2	theory	theory	NOUN
easat-8725	56	3	is	be	AUX
easat-8725	56	4	fundamental	fundamental	ADJ
easat-8725	56	5	in	in	ADP
easat-8725	56	6	explaining	explain	VERB
easat-8725	56	7	investor	investor	NOUN
easat-8725	56	8	behavior	behavior	NOUN
easat-8725	56	9	,	,	PUNCT
easat-8725	56	10	particularly	particularly	ADV
easat-8725	56	11	foreign	foreign	ADJ
easat-8725	56	12	portfolio	portfolio	NOUN
easat-8725	56	13	investors	investor	NOUN
easat-8725	56	14	who	who	PRON
easat-8725	56	15	rely	rely	VERB
easat-8725	56	16	on	on	ADP
easat-8725	56	17	timely	timely	ADJ
easat-8725	56	18	and	and	CCONJ
easat-8725	56	19	accurate	accurate	ADJ
easat-8725	56	20	market	market	NOUN
easat-8725	56	21	information	information	NOUN
easat-8725	56	22	to	to	PART
easat-8725	56	23	optimize	optimize	VERB
easat-8725	56	24	portfolio	portfolio	NOUN
easat-8725	56	25	allocation	allocation	NOUN
easat-8725	56	26	decisions	decision	NOUN
easat-8725	56	27	[	[	X
easat-8725	56	28	15	15	NUM
easat-8725	56	29	]	]	PUNCT
easat-8725	56	30	.	.	PUNCT
easat-8725	57	1	in	in	ADP
easat-8725	57	2	the	the	DET
easat-8725	57	3	context	context	NOUN
easat-8725	57	4	of	of	ADP
easat-8725	57	5	emerging	emerge	VERB
easat-8725	57	6	markets	market	NOUN
easat-8725	57	7	like	like	ADP
easat-8725	57	8	nigeria	nigeria	PROPN
easat-8725	57	9	,	,	PUNCT
easat-8725	57	10	emh	emh	PROPN
easat-8725	57	11	offers	offer	VERB
easat-8725	57	12	a	a	DET
easat-8725	57	13	valuable	valuable	ADJ
easat-8725	57	14	framework	framework	NOUN
easat-8725	57	15	for	for	ADP
easat-8725	57	16	understanding	understand	VERB
easat-8725	57	17	how	how	SCONJ
easat-8725	57	18	capital	capital	NOUN
easat-8725	57	19	market	market	NOUN
easat-8725	57	20	development	development	NOUN
easat-8725	57	21	affects	affect	VERB
easat-8725	57	22	foreign	foreign	ADJ
easat-8725	57	23	portfolio	portfolio	NOUN
easat-8725	57	24	investment	investment	NOUN
easat-8725	57	25	(	(	PUNCT
easat-8725	57	26	fpi	fpi	PROPN
easat-8725	57	27	)	)	PUNCT
easat-8725	57	28	flows	flow	VERB
easat-8725	57	29	.	.	PUNCT
easat-8725	58	1	efficient	efficient	ADJ
easat-8725	58	2	markets	market	NOUN
easat-8725	58	3	reduce	reduce	VERB
easat-8725	58	4	information	information	NOUN
easat-8725	58	5	asymmetry	asymmetry	NOUN
easat-8725	58	6	and	and	CCONJ
easat-8725	58	7	transaction	transaction	NOUN
easat-8725	58	8	costs	cost	NOUN
easat-8725	58	9	,	,	PUNCT
easat-8725	58	10	which	which	PRON
easat-8725	58	11	are	be	AUX
easat-8725	58	12	critical	critical	ADJ
easat-8725	58	13	considerations	consideration	NOUN
easat-8725	58	14	for	for	ADP
easat-8725	58	15	foreign	foreign	ADJ
easat-8725	58	16	investors	investor	NOUN
easat-8725	58	17	evaluating	evaluate	VERB
easat-8725	58	18	risks	risk	NOUN
easat-8725	58	19	associated	associate	VERB
easat-8725	58	20	with	with	ADP
easat-8725	58	21	frontier	frontier	NOUN
easat-8725	58	22	economies	economy	NOUN
easat-8725	58	23	[	[	X
easat-8725	58	24	3	3	NUM
easat-8725	58	25	,	,	PUNCT
easat-8725	58	26	16	16	NUM
easat-8725	58	27	]	]	PUNCT
easat-8725	58	28	.	.	PUNCT
easat-8725	59	1	empirical	empirical	ADJ
easat-8725	59	2	studies	study	NOUN
easat-8725	59	3	suggest	suggest	VERB
easat-8725	59	4	that	that	SCONJ
easat-8725	59	5	improved	improve	VERB
easat-8725	59	6	market	market	NOUN
easat-8725	59	7	efficiency	efficiency	NOUN
easat-8725	59	8	,	,	PUNCT
easat-8725	59	9	as	as	SCONJ
easat-8725	59	10	reflected	reflect	VERB
easat-8725	59	11	in	in	ADP
easat-8725	59	12	liquidity	liquidity	NOUN
easat-8725	59	13	and	and	CCONJ
easat-8725	59	14	transparency	transparency	NOUN
easat-8725	59	15	,	,	PUNCT
easat-8725	59	16	enhances	enhance	VERB
easat-8725	59	17	foreign	foreign	ADJ
easat-8725	59	18	investor	investor	NOUN
easat-8725	59	19	confidence	confidence	NOUN
easat-8725	59	20	and	and	CCONJ
easat-8725	59	21	capital	capital	NOUN
easat-8725	59	22	inflows	inflow	NOUN
easat-8725	59	23	[	[	X
easat-8725	59	24	1	1	NUM
easat-8725	59	25	,	,	PUNCT
easat-8725	59	26	2	2	NUM
easat-8725	59	27	]	]	PUNCT
easat-8725	59	28	.	.	PUNCT
easat-8725	60	1	nonetheless	nonetheless	ADV
easat-8725	60	2	,	,	PUNCT
easat-8725	60	3	evidence	evidence	NOUN
easat-8725	60	4	indicates	indicate	VERB
easat-8725	60	5	that	that	SCONJ
easat-8725	60	6	nigerian	nigerian	ADJ
easat-8725	60	7	capital	capital	NOUN
easat-8725	60	8	markets	market	NOUN
easat-8725	60	9	display	display	VERB
easat-8725	60	10	varying	vary	VERB
easat-8725	60	11	degrees	degree	NOUN
easat-8725	60	12	of	of	ADP
easat-8725	60	13	inefficiency	inefficiency	NOUN
easat-8725	60	14	,	,	PUNCT
easat-8725	60	15	attributable	attributable	ADJ
easat-8725	60	16	to	to	ADP
easat-8725	60	17	factors	factor	NOUN
easat-8725	60	18	such	such	ADJ
easat-8725	60	19	as	as	ADP
easat-8725	60	20	regulatory	regulatory	ADJ
easat-8725	60	21	lapses	lapse	NOUN
easat-8725	60	22	,	,	PUNCT
easat-8725	60	23	insider	insider	NOUN
easat-8725	60	24	trading	trading	NOUN
easat-8725	60	25	,	,	PUNCT
easat-8725	60	26	and	and	CCONJ
easat-8725	60	27	limited	limited	ADJ
easat-8725	60	28	market	market	NOUN
easat-8725	60	29	depth	depth	NOUN
easat-8725	60	30	,	,	PUNCT
easat-8725	60	31	which	which	PRON
easat-8725	60	32	may	may	AUX
easat-8725	60	33	impede	impede	VERB
easat-8725	60	34	the	the	DET
easat-8725	60	35	full	full	ADJ
easat-8725	60	36	realization	realization	NOUN
easat-8725	60	37	of	of	ADP
easat-8725	60	38	emh	emh	PROPN
easat-8725	60	39	's	's	PART
easat-8725	60	40	principles	principle	NOUN
easat-8725	60	41	[	[	X
easat-8725	60	42	6	6	NUM
easat-8725	60	43	,	,	PUNCT
easat-8725	60	44	8	8	NUM
easat-8725	60	45	]	]	PUNCT
easat-8725	60	46	.	.	PUNCT
easat-8725	61	1	these	these	DET
easat-8725	61	2	inefficiencies	inefficiency	NOUN
easat-8725	61	3	increase	increase	VERB
easat-8725	61	4	investment	investment	NOUN
easat-8725	61	5	risk	risk	NOUN
easat-8725	61	6	perceptions	perception	NOUN
easat-8725	61	7	among	among	ADP
easat-8725	61	8	foreign	foreign	ADJ
easat-8725	61	9	investors	investor	NOUN
easat-8725	61	10	,	,	PUNCT
easat-8725	61	11	potentially	potentially	ADV
easat-8725	61	12	deterring	deter	VERB
easat-8725	61	13	sustained	sustain	VERB
easat-8725	61	14	fpi	fpi	PROPN
easat-8725	61	15	inflows	inflow	NOUN
easat-8725	61	16	.	.	PUNCT
easat-8725	62	1	therefore	therefore	ADV
easat-8725	62	2	,	,	PUNCT
easat-8725	62	3	emh	emh	PROPN
easat-8725	62	4	not	not	PART
easat-8725	62	5	only	only	ADV
easat-8725	62	6	explains	explain	VERB
easat-8725	62	7	the	the	DET
easat-8725	62	8	theoretical	theoretical	ADJ
easat-8725	62	9	linkage	linkage	NOUN
easat-8725	62	10	between	between	ADP
easat-8725	62	11	market	market	NOUN
easat-8725	62	12	efficiency	efficiency	NOUN
easat-8725	62	13	and	and	CCONJ
easat-8725	62	14	fpi	fpi	PROPN
easat-8725	62	15	but	but	CCONJ
easat-8725	62	16	also	also	ADV
easat-8725	62	17	underscores	underscore	VERB
easat-8725	62	18	the	the	DET
easat-8725	62	19	imperative	imperative	NOUN
easat-8725	62	20	for	for	ADP
easat-8725	62	21	reforms	reform	NOUN
easat-8725	62	22	aimed	aim	VERB
easat-8725	62	23	at	at	ADP
easat-8725	62	24	enhancing	enhance	VERB
easat-8725	62	25	informational	informational	ADJ
easat-8725	62	26	transparency	transparency	NOUN
easat-8725	62	27	and	and	CCONJ
easat-8725	62	28	market	market	NOUN
easat-8725	62	29	integrity	integrity	NOUN
easat-8725	62	30	to	to	PART
easat-8725	62	31	attract	attract	VERB
easat-8725	62	32	and	and	CCONJ
easat-8725	62	33	retain	retain	VERB
easat-8725	62	34	foreign	foreign	ADJ
easat-8725	62	35	capital	capital	NOUN
easat-8725	62	36	in	in	ADP
easat-8725	62	37	nigeria	nigeria	PROPN
easat-8725	63	1	[	[	X
easat-8725	63	2	11	11	NUM
easat-8725	63	3	,	,	PUNCT
easat-8725	63	4	17	17	NUM
easat-8725	63	5	]	]	PUNCT
easat-8725	63	6	.	.	PUNCT
easat-8725	64	1	2.2	2.2	NUM
easat-8725	64	2	.	.	PUNCT
easat-8725	64	3	modern	modern	ADJ
easat-8725	64	4	portfolio	portfolio	NOUN
easat-8725	64	5	theory	theory	NOUN
easat-8725	64	6	(	(	PUNCT
easat-8725	64	7	mpt	mpt	PROPN
easat-8725	64	8	)	)	PUNCT
easat-8725	64	9	modern	modern	ADJ
easat-8725	64	10	portfolio	portfolio	NOUN
easat-8725	64	11	theory	theory	NOUN
easat-8725	64	12	(	(	PUNCT
easat-8725	64	13	mpt	mpt	PROPN
easat-8725	64	14	)	)	PUNCT
easat-8725	64	15	,	,	PUNCT
easat-8725	64	16	introduced	introduce	VERB
easat-8725	64	17	by	by	ADP
easat-8725	64	18	markowitz	markowitz	PROPN
easat-8725	64	19	[	[	X
easat-8725	64	20	18	18	NUM
easat-8725	64	21	]	]	PUNCT
easat-8725	64	22	revolutionized	revolutionize	VERB
easat-8725	64	23	investment	investment	NOUN
easat-8725	64	24	management	management	NOUN
easat-8725	64	25	by	by	ADP
easat-8725	64	26	formalizing	formalize	VERB
easat-8725	64	27	the	the	DET
easat-8725	64	28	risk	risk	NOUN
easat-8725	64	29	-	-	PUNCT
easat-8725	64	30	return	return	NOUN
easat-8725	64	31	trade	trade	NOUN
easat-8725	64	32	-	-	PUNCT
easat-8725	64	33	off	off	NOUN
easat-8725	64	34	and	and	CCONJ
easat-8725	64	35	advocating	advocate	VERB
easat-8725	64	36	portfolio	portfolio	NOUN
easat-8725	64	37	diversification	diversification	NOUN
easat-8725	64	38	to	to	PART
easat-8725	64	39	optimize	optimize	VERB
easat-8725	64	40	expected	expect	VERB
easat-8725	64	41	returns	return	NOUN
easat-8725	64	42	for	for	ADP
easat-8725	64	43	a	a	DET
easat-8725	64	44	given	give	VERB
easat-8725	64	45	risk	risk	NOUN
easat-8725	64	46	level	level	NOUN
easat-8725	64	47	.	.	PUNCT
easat-8725	65	1	the	the	DET
easat-8725	65	2	theory	theory	NOUN
easat-8725	65	3	posits	posit	NOUN
easat-8725	65	4	that	that	SCONJ
easat-8725	65	5	investors	investor	NOUN
easat-8725	65	6	construct	construct	VERB
easat-8725	65	7	portfolios	portfolio	NOUN
easat-8725	65	8	comprising	comprise	VERB
easat-8725	65	9	assets	asset	NOUN
easat-8725	65	10	with	with	ADP
easat-8725	65	11	varying	vary	VERB
easat-8725	65	12	correlations	correlation	NOUN
easat-8725	65	13	to	to	PART
easat-8725	65	14	minimize	minimize	VERB
easat-8725	65	15	risk	risk	NOUN
easat-8725	65	16	while	while	SCONJ
easat-8725	65	17	achieving	achieve	VERB
easat-8725	65	18	target	target	NOUN
easat-8725	65	19	returns	return	NOUN
easat-8725	65	20	[	[	X
easat-8725	65	21	19	19	NUM
easat-8725	65	22	]	]	PUNCT
easat-8725	65	23	.	.	PUNCT
easat-8725	66	1	this	this	DET
easat-8725	66	2	diversification	diversification	NOUN
easat-8725	66	3	principle	principle	NOUN
easat-8725	66	4	is	be	AUX
easat-8725	66	5	particularly	particularly	ADV
easat-8725	66	6	relevant	relevant	ADJ
easat-8725	66	7	for	for	ADP
easat-8725	66	8	foreign	foreign	ADJ
easat-8725	66	9	portfolio	portfolio	NOUN
easat-8725	66	10	investors	investor	NOUN
easat-8725	66	11	who	who	PRON
easat-8725	66	12	seek	seek	VERB
easat-8725	66	13	to	to	PART
easat-8725	66	14	manage	manage	VERB
easat-8725	66	15	exposure	exposure	NOUN
easat-8725	66	16	across	across	ADP
easat-8725	66	17	different	different	ADJ
easat-8725	66	18	markets	market	NOUN
easat-8725	66	19	and	and	CCONJ
easat-8725	66	20	asset	asset	NOUN
easat-8725	66	21	classes	class	NOUN
easat-8725	66	22	[	[	X
easat-8725	66	23	20	20	NUM
easat-8725	66	24	]	]	PUNCT
easat-8725	66	25	.	.	PUNCT
easat-8725	67	1	applying	apply	VERB
easat-8725	67	2	mpt	mpt	PROPN
easat-8725	67	3	to	to	ADP
easat-8725	67	4	nigeria	nigeria	PROPN
easat-8725	67	5	’s	’s	PART
easat-8725	67	6	capital	capital	NOUN
easat-8725	67	7	market	market	NOUN
easat-8725	67	8	,	,	PUNCT
easat-8725	67	9	the	the	DET
easat-8725	67	10	theory	theory	NOUN
easat-8725	67	11	suggests	suggest	VERB
easat-8725	67	12	that	that	SCONJ
easat-8725	67	13	foreign	foreign	ADJ
easat-8725	67	14	investors	investor	NOUN
easat-8725	67	15	are	be	AUX
easat-8725	67	16	attracted	attract	VERB
easat-8725	67	17	to	to	ADP
easat-8725	67	18	markets	market	NOUN
easat-8725	67	19	offering	offer	VERB
easat-8725	67	20	diverse	diverse	ADJ
easat-8725	67	21	,	,	PUNCT
easat-8725	67	22	liquid	liquid	ADJ
easat-8725	67	23	assets	asset	NOUN
easat-8725	67	24	that	that	PRON
easat-8725	67	25	improve	improve	VERB
easat-8725	67	26	their	their	PRON
easat-8725	67	27	global	global	ADJ
easat-8725	67	28	portfolio	portfolio	NOUN
easat-8725	67	29	efficiency	efficiency	NOUN
easat-8725	68	1	[	[	X
easat-8725	68	2	21	21	NUM
easat-8725	68	3	]	]	PUNCT
easat-8725	68	4	.	.	PUNCT
easat-8725	69	1	however	however	ADV
easat-8725	69	2	,	,	PUNCT
easat-8725	69	3	the	the	DET
easat-8725	69	4	nigerian	nigerian	ADJ
easat-8725	69	5	capital	capital	NOUN
easat-8725	69	6	market	market	NOUN
easat-8725	69	7	historically	historically	ADV
easat-8725	69	8	suffers	suffer	VERB
easat-8725	69	9	from	from	ADP
easat-8725	69	10	limited	limited	ADJ
easat-8725	69	11	asset	asset	NOUN
easat-8725	69	12	class	class	NOUN
easat-8725	69	13	variety	variety	NOUN
easat-8725	69	14	,	,	PUNCT
easat-8725	69	15	sectoral	sectoral	ADJ
easat-8725	69	16	concentration	concentration	NOUN
easat-8725	69	17	,	,	PUNCT
easat-8725	69	18	and	and	CCONJ
easat-8725	69	19	low	low	ADJ
easat-8725	69	20	liquidity	liquidity	NOUN
easat-8725	69	21	,	,	PUNCT
easat-8725	69	22	which	which	PRON
easat-8725	69	23	constrain	constrain	VERB
easat-8725	69	24	its	its	PRON
easat-8725	69	25	ability	ability	NOUN
easat-8725	69	26	to	to	PART
easat-8725	69	27	meet	meet	VERB
easat-8725	69	28	the	the	DET
easat-8725	69	29	diversification	diversification	NOUN
easat-8725	69	30	needs	need	NOUN
easat-8725	69	31	of	of	ADP
easat-8725	69	32	international	international	ADJ
easat-8725	69	33	investors	investor	NOUN
easat-8725	69	34	[	[	X
easat-8725	69	35	1	1	NUM
easat-8725	69	36	,	,	PUNCT
easat-8725	69	37	6	6	NUM
easat-8725	69	38	]	]	PUNCT
easat-8725	69	39	.	.	PUNCT
easat-8725	70	1	moreover	moreover	ADV
easat-8725	70	2	,	,	PUNCT
easat-8725	70	3	macroeconomic	macroeconomic	ADJ
easat-8725	70	4	risks	risk	NOUN
easat-8725	70	5	such	such	ADJ
easat-8725	70	6	as	as	ADP
easat-8725	70	7	currency	currency	NOUN
easat-8725	70	8	volatility	volatility	NOUN
easat-8725	70	9	and	and	CCONJ
easat-8725	70	10	political	political	ADJ
easat-8725	70	11	instability	instability	NOUN
easat-8725	70	12	further	far	ADV
easat-8725	70	13	complicate	complicate	VERB
easat-8725	70	14	the	the	DET
easat-8725	70	15	risk	risk	NOUN
easat-8725	70	16	-	-	PUNCT
easat-8725	70	17	return	return	NOUN
easat-8725	70	18	profile	profile	NOUN
easat-8725	70	19	,	,	PUNCT
easat-8725	70	20	elevating	elevate	VERB
easat-8725	70	21	the	the	DET
easat-8725	70	22	cost	cost	NOUN
easat-8725	70	23	of	of	ADP
easat-8725	70	24	investment	investment	NOUN
easat-8725	70	25	[	[	X
easat-8725	70	26	4	4	NUM
easat-8725	70	27	,	,	PUNCT
easat-8725	70	28	7	7	NUM
easat-8725	70	29	]	]	PUNCT
easat-8725	70	30	.	.	PUNCT
easat-8725	71	1	consequently	consequently	ADV
easat-8725	71	2	,	,	PUNCT
easat-8725	71	3	mpt	mpt	PROPN
easat-8725	71	4	highlights	highlight	VERB
easat-8725	71	5	the	the	DET
easat-8725	71	6	critical	critical	ADJ
easat-8725	71	7	role	role	NOUN
easat-8725	71	8	of	of	ADP
easat-8725	71	9	capital	capital	NOUN
easat-8725	71	10	market	market	NOUN
easat-8725	71	11	development	development	NOUN
easat-8725	71	12	initiatives	initiative	NOUN
easat-8725	71	13	that	that	PRON
easat-8725	71	14	expand	expand	VERB
easat-8725	71	15	market	market	NOUN
easat-8725	71	16	breadth	breadth	NOUN
easat-8725	71	17	,	,	PUNCT
easat-8725	71	18	improve	improve	VERB
easat-8725	71	19	liquidity	liquidity	NOUN
easat-8725	71	20	,	,	PUNCT
easat-8725	71	21	and	and	CCONJ
easat-8725	71	22	reduce	reduce	VERB
easat-8725	71	23	systemic	systemic	ADJ
easat-8725	71	24	risk	risk	NOUN
easat-8725	71	25	to	to	PART
easat-8725	71	26	enhance	enhance	VERB
easat-8725	71	27	nigeria	nigeria	PROPN
easat-8725	71	28	’s	’s	PART
easat-8725	71	29	attractiveness	attractiveness	NOUN
easat-8725	71	30	to	to	ADP
easat-8725	71	31	foreign	foreign	ADJ
easat-8725	71	32	portfolio	portfolio	NOUN
easat-8725	71	33	investors	investor	NOUN
easat-8725	71	34	[	[	X
easat-8725	71	35	17	17	NUM
easat-8725	71	36	,	,	PUNCT
easat-8725	71	37	22	22	NUM
easat-8725	71	38	]	]	PUNCT
easat-8725	71	39	.	.	PUNCT
easat-8725	72	1	this	this	DET
easat-8725	72	2	theory	theory	NOUN
easat-8725	72	3	underlines	underline	VERB
easat-8725	72	4	the	the	DET
easat-8725	72	5	importance	importance	NOUN
easat-8725	72	6	of	of	ADP
easat-8725	72	7	structural	structural	ADJ
easat-8725	72	8	reforms	reform	NOUN
easat-8725	72	9	that	that	PRON
easat-8725	72	10	foster	foster	VERB
easat-8725	72	11	market	market	NOUN
easat-8725	72	12	depth	depth	NOUN
easat-8725	72	13	and	and	CCONJ
easat-8725	72	14	broaden	broaden	VERB
easat-8725	72	15	investment	investment	NOUN
easat-8725	72	16	opportunities	opportunity	NOUN
easat-8725	72	17	,	,	PUNCT
easat-8725	72	18	enabling	enable	VERB
easat-8725	72	19	nigeria	nigeria	PRON
easat-8725	72	20	to	to	PART
easat-8725	72	21	integrate	integrate	VERB
easat-8725	72	22	more	more	ADV
easat-8725	72	23	effectively	effectively	ADV
easat-8725	72	24	into	into	ADP
easat-8725	72	25	global	global	ADJ
easat-8725	72	26	financial	financial	ADJ
easat-8725	72	27	markets	market	NOUN
easat-8725	72	28	[	[	X
easat-8725	72	29	11	11	NUM
easat-8725	72	30	]	]	PUNCT
easat-8725	72	31	.	.	PUNCT
easat-8725	73	1	2.3	2.3	NUM
easat-8725	73	2	.	.	PUNCT
easat-8725	74	1	information	information	NOUN
easat-8725	74	2	asymmetry	asymmetry	NOUN
easat-8725	74	3	theory	theory	NOUN
easat-8725	74	4	information	information	NOUN
easat-8725	74	5	asymmetry	asymmetry	NOUN
easat-8725	74	6	theory	theory	NOUN
easat-8725	74	7	,	,	PUNCT
easat-8725	74	8	rooted	root	VERB
easat-8725	74	9	in	in	ADP
easat-8725	74	10	the	the	DET
easat-8725	74	11	seminal	seminal	ADJ
easat-8725	74	12	work	work	NOUN
easat-8725	74	13	of	of	ADP
easat-8725	74	14	akerlof	akerlof	NOUN
easat-8725	74	15	[	[	X
easat-8725	74	16	23	23	NUM
easat-8725	74	17	]	]	PUNCT
easat-8725	74	18	and	and	CCONJ
easat-8725	74	19	later	later	ADV
easat-8725	74	20	formalized	formalize	VERB
easat-8725	74	21	in	in	ADP
easat-8725	74	22	financial	financial	ADJ
easat-8725	74	23	markets	market	NOUN
easat-8725	74	24	by	by	ADP
easat-8725	74	25	stiglitz	stiglitz	PROPN
easat-8725	74	26	and	and	CCONJ
easat-8725	74	27	weiss	weiss	PROPN
easat-8725	75	1	[	[	X
easat-8725	75	2	24	24	NUM
easat-8725	75	3	]	]	PUNCT
easat-8725	75	4	examines	examine	VERB
easat-8725	75	5	how	how	SCONJ
easat-8725	75	6	unequal	unequal	ADJ
easat-8725	75	7	access	access	NOUN
easat-8725	75	8	to	to	ADP
easat-8725	75	9	information	information	NOUN
easat-8725	75	10	among	among	ADP
easat-8725	75	11	market	market	NOUN
easat-8725	75	12	participants	participant	NOUN
easat-8725	75	13	can	can	AUX
easat-8725	75	14	lead	lead	VERB
easat-8725	75	15	to	to	ADP
easat-8725	75	16	adverse	adverse	ADJ
easat-8725	75	17	selection	selection	NOUN
easat-8725	75	18	and	and	CCONJ
easat-8725	75	19	moral	moral	ADJ
easat-8725	75	20	hazard	hazard	NOUN
easat-8725	75	21	,	,	PUNCT
easat-8725	75	22	impairing	impair	VERB
easat-8725	75	23	market	market	NOUN
easat-8725	75	24	efficiency	efficiency	NOUN
easat-8725	75	25	.	.	PUNCT
easat-8725	76	1	in	in	ADP
easat-8725	76	2	the	the	DET
easat-8725	76	3	context	context	NOUN
easat-8725	76	4	of	of	ADP
easat-8725	76	5	capital	capital	NOUN
easat-8725	76	6	markets	market	NOUN
easat-8725	76	7	,	,	PUNCT
easat-8725	76	8	information	information	NOUN
easat-8725	76	9	asymmetry	asymmetry	NOUN
easat-8725	76	10	manifests	manifest	NOUN
easat-8725	76	11	when	when	SCONJ
easat-8725	76	12	investors	investor	NOUN
easat-8725	76	13	have	have	VERB
easat-8725	76	14	incomplete	incomplete	ADJ
easat-8725	76	15	or	or	CCONJ
easat-8725	76	16	inaccurate	inaccurate	ADJ
easat-8725	76	17	knowledge	knowledge	NOUN
easat-8725	76	18	about	about	ADP
easat-8725	76	19	investment	investment	NOUN
easat-8725	76	20	risks	risk	NOUN
easat-8725	76	21	,	,	PUNCT
easat-8725	76	22	company	company	NOUN
easat-8725	76	23	fundamentals	fundamental	NOUN
easat-8725	76	24	,	,	PUNCT
easat-8725	76	25	or	or	CCONJ
easat-8725	76	26	regulatory	regulatory	ADJ
easat-8725	76	27	environments	environment	NOUN
easat-8725	77	1	[	[	X
easat-8725	77	2	25	25	NUM
easat-8725	77	3	,	,	PUNCT
easat-8725	77	4	26	26	NUM
easat-8725	77	5	]	]	PUNCT
easat-8725	77	6	.	.	PUNCT
easat-8725	78	1	this	this	DET
easat-8725	78	2	phenomenon	phenomenon	NOUN
easat-8725	78	3	is	be	AUX
easat-8725	78	4	particularly	particularly	ADV
easat-8725	78	5	pronounced	pronounce	VERB
easat-8725	78	6	in	in	ADP
easat-8725	78	7	emerging	emerge	VERB
easat-8725	78	8	economies	economy	NOUN
easat-8725	78	9	where	where	SCONJ
easat-8725	78	10	disclosure	disclosure	NOUN
easat-8725	78	11	standards	standard	NOUN
easat-8725	78	12	and	and	CCONJ
easat-8725	78	13	enforcement	enforcement	NOUN
easat-8725	78	14	are	be	AUX
easat-8725	78	15	often	often	ADV
easat-8725	78	16	weak	weak	ADJ
easat-8725	79	1	[	[	X
easat-8725	79	2	27	27	NUM
easat-8725	79	3	]	]	PUNCT
easat-8725	79	4	.	.	PUNCT
easat-8725	80	1	for	for	ADP
easat-8725	80	2	nigeria	nigeria	PROPN
easat-8725	80	3	,	,	PUNCT
easat-8725	80	4	information	information	NOUN
easat-8725	80	5	asymmetry	asymmetry	NOUN
easat-8725	80	6	remains	remain	VERB
easat-8725	80	7	a	a	DET
easat-8725	80	8	significant	significant	ADJ
easat-8725	80	9	barrier	barrier	NOUN
easat-8725	80	10	to	to	ADP
easat-8725	80	11	attracting	attract	VERB
easat-8725	80	12	and	and	CCONJ
easat-8725	80	13	sustaining	sustain	VERB
easat-8725	80	14	foreign	foreign	ADJ
easat-8725	80	15	portfolio	portfolio	NOUN
easat-8725	80	16	investment	investment	NOUN
easat-8725	80	17	.	.	PUNCT
easat-8725	81	1	foreign	foreign	ADJ
easat-8725	81	2	investors	investor	NOUN
easat-8725	81	3	face	face	VERB
easat-8725	81	4	challenges	challenge	NOUN
easat-8725	81	5	in	in	ADP
easat-8725	81	6	accessing	access	VERB
easat-8725	81	7	reliable	reliable	ADJ
easat-8725	81	8	and	and	CCONJ
easat-8725	81	9	timely	timely	ADJ
easat-8725	81	10	information	information	NOUN
easat-8725	81	11	,	,	PUNCT
easat-8725	81	12	which	which	PRON
easat-8725	81	13	increases	increase	VERB
easat-8725	81	14	perceived	perceive	VERB
easat-8725	81	15	risk	risk	NOUN
easat-8725	81	16	and	and	CCONJ
easat-8725	81	17	requires	require	VERB
easat-8725	81	18	higher	high	ADJ
easat-8725	81	19	risk	risk	NOUN
easat-8725	81	20	premiums	premium	NOUN
easat-8725	81	21	[	[	X
easat-8725	81	22	3	3	NUM
easat-8725	81	23	,	,	PUNCT
easat-8725	81	24	8	8	NUM
easat-8725	81	25	]	]	PUNCT
easat-8725	81	26	.	.	PUNCT
easat-8725	82	1	empirical	empirical	ADJ
easat-8725	82	2	studies	study	NOUN
easat-8725	82	3	770	770	NUM
easat-8725	82	4	edelweiss	edelweiss	PROPN
easat-8725	82	5	applied	apply	VERB
easat-8725	82	6	science	science	NOUN
easat-8725	82	7	and	and	CCONJ
easat-8725	82	8	technology	technology	NOUN
easat-8725	82	9	issn	issn	PROPN
easat-8725	82	10	:	:	PUNCT
easat-8725	82	11	2576	2576	NUM
easat-8725	82	12	-	-	SYM
easat-8725	82	13	8484	8484	NUM
easat-8725	82	14	vol	vol	NOUN
easat-8725	82	15	.	.	PROPN
easat-8725	83	1	9	9	NUM
easat-8725	83	2	,	,	PUNCT
easat-8725	83	3	no	no	INTJ
easat-8725	83	4	.	.	NOUN
easat-8725	83	5	7	7	NUM
easat-8725	83	6	:	:	PUNCT
easat-8725	83	7	767	767	NUM
easat-8725	83	8	-	-	SYM
easat-8725	83	9	779	779	NUM
easat-8725	83	10	,	,	PUNCT
easat-8725	83	11	2025	2025	NUM
easat-8725	83	12	doi	doi	NOUN
easat-8725	83	13	:	:	PUNCT
easat-8725	83	14	10.55214/25768484.v9i7.8725	10.55214/25768484.v9i7.8725	NUM
easat-8725	83	15	©	©	PROPN
easat-8725	83	16	2025	2025	NUM
easat-8725	83	17	by	by	ADP
easat-8725	83	18	the	the	DET
easat-8725	83	19	authors	author	NOUN
easat-8725	83	20	;	;	PUNCT
easat-8725	83	21	licensee	licensee	PROPN
easat-8725	83	22	learning	learning	NOUN
easat-8725	83	23	gate	gate	NOUN
easat-8725	83	24	indicate	indicate	VERB
easat-8725	83	25	that	that	SCONJ
easat-8725	83	26	inadequate	inadequate	ADJ
easat-8725	83	27	corporate	corporate	ADJ
easat-8725	83	28	disclosure	disclosure	NOUN
easat-8725	83	29	,	,	PUNCT
easat-8725	83	30	weak	weak	ADJ
easat-8725	83	31	enforcement	enforcement	NOUN
easat-8725	83	32	of	of	ADP
easat-8725	83	33	securities	security	NOUN
easat-8725	83	34	laws	law	NOUN
easat-8725	83	35	,	,	PUNCT
easat-8725	83	36	and	and	CCONJ
easat-8725	83	37	opaque	opaque	ADJ
easat-8725	83	38	regulatory	regulatory	ADJ
easat-8725	83	39	practices	practice	NOUN
easat-8725	83	40	contribute	contribute	VERB
easat-8725	83	41	to	to	ADP
easat-8725	83	42	market	market	NOUN
easat-8725	83	43	distrust	distrust	NOUN
easat-8725	83	44	and	and	CCONJ
easat-8725	83	45	deter	deter	VERB
easat-8725	83	46	foreign	foreign	ADJ
easat-8725	83	47	participation	participation	NOUN
easat-8725	83	48	[	[	X
easat-8725	83	49	6	6	NUM
easat-8725	83	50	,	,	PUNCT
easat-8725	83	51	11	11	NUM
easat-8725	83	52	]	]	PUNCT
easat-8725	83	53	.	.	PUNCT
easat-8725	84	1	reducing	reduce	VERB
easat-8725	84	2	information	information	NOUN
easat-8725	84	3	asymmetry	asymmetry	NOUN
easat-8725	84	4	through	through	ADP
easat-8725	84	5	improved	improved	ADJ
easat-8725	84	6	transparency	transparency	NOUN
easat-8725	84	7	,	,	PUNCT
easat-8725	84	8	enhanced	enhance	VERB
easat-8725	84	9	regulatory	regulatory	ADJ
easat-8725	84	10	frameworks	framework	NOUN
easat-8725	84	11	,	,	PUNCT
easat-8725	84	12	and	and	CCONJ
easat-8725	84	13	investor	investor	NOUN
easat-8725	84	14	education	education	NOUN
easat-8725	84	15	is	be	AUX
easat-8725	84	16	essential	essential	ADJ
easat-8725	84	17	to	to	PART
easat-8725	84	18	increase	increase	VERB
easat-8725	84	19	fpi	fpi	PROPN
easat-8725	84	20	inflows	inflow	NOUN
easat-8725	84	21	.	.	PUNCT
easat-8725	85	1	the	the	DET
easat-8725	85	2	theory	theory	NOUN
easat-8725	85	3	suggests	suggest	VERB
easat-8725	85	4	that	that	SCONJ
easat-8725	85	5	mitigating	mitigate	VERB
easat-8725	85	6	information	information	NOUN
easat-8725	85	7	gaps	gap	NOUN
easat-8725	85	8	decreases	decrease	VERB
easat-8725	85	9	transaction	transaction	NOUN
easat-8725	85	10	costs	cost	NOUN
easat-8725	85	11	and	and	CCONJ
easat-8725	85	12	risk	risk	NOUN
easat-8725	85	13	premiums	premium	NOUN
easat-8725	85	14	,	,	PUNCT
easat-8725	85	15	thereby	thereby	ADV
easat-8725	85	16	fostering	foster	VERB
easat-8725	85	17	a	a	DET
easat-8725	85	18	more	more	ADV
easat-8725	85	19	conducive	conducive	ADJ
easat-8725	85	20	environment	environment	NOUN
easat-8725	85	21	for	for	ADP
easat-8725	85	22	foreign	foreign	ADJ
easat-8725	85	23	investors	investor	NOUN
easat-8725	86	1	[	[	X
easat-8725	86	2	28	28	NUM
easat-8725	86	3	,	,	PUNCT
easat-8725	86	4	29	29	NUM
easat-8725	86	5	]	]	PUNCT
easat-8725	86	6	.	.	PUNCT
easat-8725	87	1	hence	hence	ADV
easat-8725	87	2	,	,	PUNCT
easat-8725	87	3	information	information	NOUN
easat-8725	87	4	asymmetry	asymmetry	NOUN
easat-8725	87	5	theory	theory	NOUN
easat-8725	87	6	provides	provide	VERB
easat-8725	87	7	a	a	DET
easat-8725	87	8	critical	critical	ADJ
easat-8725	87	9	lens	lens	NOUN
easat-8725	87	10	for	for	ADP
easat-8725	87	11	evaluating	evaluate	VERB
easat-8725	87	12	the	the	DET
easat-8725	87	13	nigerian	nigerian	ADJ
easat-8725	87	14	capital	capital	NOUN
easat-8725	87	15	market	market	NOUN
easat-8725	87	16	's	's	PART
easat-8725	87	17	capacity	capacity	NOUN
easat-8725	87	18	to	to	PART
easat-8725	87	19	attract	attract	VERB
easat-8725	87	20	foreign	foreign	ADJ
easat-8725	87	21	portfolio	portfolio	NOUN
easat-8725	87	22	investment	investment	NOUN
easat-8725	87	23	by	by	ADP
easat-8725	87	24	emphasizing	emphasize	VERB
easat-8725	87	25	the	the	DET
easat-8725	87	26	importance	importance	NOUN
easat-8725	87	27	of	of	ADP
easat-8725	87	28	credible	credible	ADJ
easat-8725	87	29	information	information	NOUN
easat-8725	87	30	dissemination	dissemination	NOUN
easat-8725	87	31	and	and	CCONJ
easat-8725	87	32	regulatory	regulatory	ADJ
easat-8725	87	33	oversight	oversight	NOUN
easat-8725	87	34	[	[	X
easat-8725	87	35	9	9	NUM
easat-8725	87	36	,	,	PUNCT
easat-8725	87	37	17	17	NUM
easat-8725	87	38	]	]	PUNCT
easat-8725	87	39	.	.	PUNCT
easat-8725	88	1	2.4	2.4	NUM
easat-8725	88	2	.	.	PUNCT
easat-8725	89	1	institutional	institutional	ADJ
easat-8725	89	2	theory	theory	NOUN
easat-8725	89	3	institutional	institutional	ADJ
easat-8725	89	4	theory	theory	NOUN
easat-8725	89	5	,	,	PUNCT
easat-8725	89	6	as	as	SCONJ
easat-8725	89	7	articulated	articulate	VERB
easat-8725	89	8	by	by	ADP
easat-8725	89	9	north	north	NOUN
easat-8725	89	10	[	[	X
easat-8725	89	11	30	30	NUM
easat-8725	89	12	]	]	PUNCT
easat-8725	89	13	and	and	CCONJ
easat-8725	89	14	williamson	williamson	PROPN
easat-8725	90	1	[	[	X
easat-8725	90	2	31	31	NUM
easat-8725	90	3	]	]	PUNCT
easat-8725	90	4	emphasizes	emphasize	VERB
easat-8725	90	5	the	the	DET
easat-8725	90	6	role	role	NOUN
easat-8725	90	7	of	of	ADP
easat-8725	90	8	formal	formal	ADJ
easat-8725	90	9	and	and	CCONJ
easat-8725	90	10	informal	informal	ADJ
easat-8725	90	11	institutions	institution	NOUN
easat-8725	90	12	comprising	comprise	VERB
easat-8725	90	13	laws	law	NOUN
easat-8725	90	14	,	,	PUNCT
easat-8725	90	15	regulations	regulation	NOUN
easat-8725	90	16	,	,	PUNCT
easat-8725	90	17	norms	norm	NOUN
easat-8725	90	18	,	,	PUNCT
easat-8725	90	19	and	and	CCONJ
easat-8725	90	20	governance	governance	NOUN
easat-8725	90	21	structures	structure	NOUN
easat-8725	90	22	—	—	PUNCT
easat-8725	90	23	in	in	ADP
easat-8725	90	24	shaping	shape	VERB
easat-8725	90	25	economic	economic	ADJ
easat-8725	90	26	interactions	interaction	NOUN
easat-8725	90	27	and	and	CCONJ
easat-8725	90	28	outcomes	outcome	NOUN
easat-8725	90	29	.	.	PUNCT
easat-8725	91	1	strong	strong	ADJ
easat-8725	91	2	institutions	institution	NOUN
easat-8725	91	3	reduce	reduce	VERB
easat-8725	91	4	uncertainty	uncertainty	NOUN
easat-8725	91	5	,	,	PUNCT
easat-8725	91	6	protect	protect	VERB
easat-8725	91	7	property	property	NOUN
easat-8725	91	8	rights	right	NOUN
easat-8725	91	9	,	,	PUNCT
easat-8725	91	10	enforce	enforce	NOUN
easat-8725	91	11	contracts	contract	NOUN
easat-8725	91	12	,	,	PUNCT
easat-8725	91	13	and	and	CCONJ
easat-8725	91	14	lower	low	ADJ
easat-8725	91	15	transaction	transaction	NOUN
easat-8725	91	16	costs	cost	NOUN
easat-8725	91	17	,	,	PUNCT
easat-8725	91	18	which	which	PRON
easat-8725	91	19	are	be	AUX
easat-8725	91	20	prerequisites	prerequisite	NOUN
easat-8725	91	21	for	for	ADP
easat-8725	91	22	efficient	efficient	ADJ
easat-8725	91	23	capital	capital	NOUN
easat-8725	91	24	markets	market	NOUN
easat-8725	91	25	and	and	CCONJ
easat-8725	91	26	investment	investment	NOUN
easat-8725	91	27	inflows	inflow	NOUN
easat-8725	91	28	[	[	X
easat-8725	91	29	27	27	NUM
easat-8725	91	30	,	,	PUNCT
easat-8725	91	31	32	32	NUM
easat-8725	91	32	]	]	PUNCT
easat-8725	91	33	.	.	PUNCT
easat-8725	92	1	in	in	ADP
easat-8725	92	2	nigeria	nigeria	PROPN
easat-8725	92	3	,	,	PUNCT
easat-8725	92	4	institutional	institutional	ADJ
easat-8725	92	5	quality	quality	NOUN
easat-8725	92	6	significantly	significantly	ADV
easat-8725	92	7	affects	affect	VERB
easat-8725	92	8	the	the	DET
easat-8725	92	9	ability	ability	NOUN
easat-8725	92	10	of	of	ADP
easat-8725	92	11	the	the	DET
easat-8725	92	12	capital	capital	NOUN
easat-8725	92	13	market	market	NOUN
easat-8725	92	14	to	to	PART
easat-8725	92	15	attract	attract	VERB
easat-8725	92	16	foreign	foreign	ADJ
easat-8725	92	17	portfolio	portfolio	NOUN
easat-8725	92	18	investment	investment	NOUN
easat-8725	92	19	.	.	PUNCT
easat-8725	93	1	despite	despite	SCONJ
easat-8725	93	2	regulatory	regulatory	ADJ
easat-8725	93	3	reforms	reform	NOUN
easat-8725	93	4	,	,	PUNCT
easat-8725	93	5	issues	issue	NOUN
easat-8725	93	6	such	such	ADJ
easat-8725	93	7	as	as	ADP
easat-8725	93	8	corruption	corruption	NOUN
easat-8725	93	9	,	,	PUNCT
easat-8725	93	10	inconsistent	inconsistent	ADJ
easat-8725	93	11	enforcement	enforcement	NOUN
easat-8725	93	12	of	of	ADP
easat-8725	93	13	securities	security	NOUN
easat-8725	93	14	laws	law	NOUN
easat-8725	93	15	,	,	PUNCT
easat-8725	93	16	and	and	CCONJ
easat-8725	93	17	political	political	ADJ
easat-8725	93	18	instability	instability	NOUN
easat-8725	93	19	persist	persist	NOUN
easat-8725	93	20	,	,	PUNCT
easat-8725	93	21	undermining	undermine	VERB
easat-8725	93	22	investor	investor	NOUN
easat-8725	93	23	confidence	confidence	NOUN
easat-8725	93	24	and	and	CCONJ
easat-8725	93	25	market	market	NOUN
easat-8725	93	26	development	development	NOUN
easat-8725	93	27	[	[	X
easat-8725	93	28	8	8	NUM
easat-8725	93	29	,	,	PUNCT
easat-8725	93	30	11	11	NUM
easat-8725	93	31	]	]	PUNCT
easat-8725	93	32	.	.	PUNCT
easat-8725	94	1	empirical	empirical	ADJ
easat-8725	94	2	evidence	evidence	NOUN
easat-8725	94	3	suggests	suggest	VERB
easat-8725	94	4	that	that	SCONJ
easat-8725	94	5	improvements	improvement	NOUN
easat-8725	94	6	in	in	ADP
easat-8725	94	7	institutional	institutional	ADJ
easat-8725	94	8	frameworks	framework	NOUN
easat-8725	94	9	correlate	correlate	VERB
easat-8725	94	10	positively	positively	ADV
easat-8725	94	11	with	with	ADP
easat-8725	94	12	capital	capital	NOUN
easat-8725	94	13	market	market	NOUN
easat-8725	94	14	performance	performance	NOUN
easat-8725	94	15	and	and	CCONJ
easat-8725	94	16	fpi	fpi	PROPN
easat-8725	94	17	,	,	PUNCT
easat-8725	94	18	as	as	SCONJ
easat-8725	94	19	better	well	ADJ
easat-8725	94	20	governance	governance	NOUN
easat-8725	94	21	reduces	reduce	VERB
easat-8725	94	22	risk	risk	NOUN
easat-8725	94	23	and	and	CCONJ
easat-8725	94	24	facilitates	facilitate	VERB
easat-8725	94	25	capital	capital	NOUN
easat-8725	94	26	mobility	mobility	NOUN
easat-8725	94	27	[	[	X
easat-8725	94	28	10	10	NUM
easat-8725	94	29	,	,	PUNCT
easat-8725	94	30	16	16	NUM
easat-8725	94	31	]	]	PUNCT
easat-8725	94	32	.	.	PUNCT
easat-8725	95	1	institutional	institutional	ADJ
easat-8725	95	2	theory	theory	NOUN
easat-8725	95	3	thus	thus	ADV
easat-8725	95	4	supports	support	VERB
easat-8725	95	5	the	the	DET
easat-8725	95	6	notion	notion	NOUN
easat-8725	95	7	that	that	SCONJ
easat-8725	95	8	capital	capital	NOUN
easat-8725	95	9	market	market	NOUN
easat-8725	95	10	reforms	reform	NOUN
easat-8725	95	11	must	must	AUX
easat-8725	95	12	be	be	AUX
easat-8725	95	13	embedded	embed	VERB
easat-8725	95	14	within	within	ADP
easat-8725	95	15	broader	broad	ADJ
easat-8725	95	16	institutional	institutional	ADJ
easat-8725	95	17	strengthening	strengthen	VERB
easat-8725	95	18	efforts	effort	NOUN
easat-8725	95	19	to	to	PART
easat-8725	95	20	foster	foster	VERB
easat-8725	95	21	sustainable	sustainable	ADJ
easat-8725	95	22	foreign	foreign	ADJ
easat-8725	95	23	investment	investment	NOUN
easat-8725	95	24	.	.	PUNCT
easat-8725	96	1	it	it	PRON
easat-8725	96	2	also	also	ADV
easat-8725	96	3	explains	explain	VERB
easat-8725	96	4	why	why	SCONJ
easat-8725	96	5	capital	capital	NOUN
easat-8725	96	6	market	market	NOUN
easat-8725	96	7	development	development	NOUN
easat-8725	96	8	alone	alone	ADV
easat-8725	96	9	may	may	AUX
easat-8725	96	10	not	not	PART
easat-8725	96	11	suffice	suffice	VERB
easat-8725	96	12	if	if	SCONJ
easat-8725	96	13	accompanied	accompany	VERB
easat-8725	96	14	by	by	ADP
easat-8725	96	15	weak	weak	ADJ
easat-8725	96	16	rule	rule	NOUN
easat-8725	96	17	of	of	ADP
easat-8725	96	18	law	law	NOUN
easat-8725	96	19	,	,	PUNCT
easat-8725	96	20	poor	poor	ADJ
easat-8725	96	21	transparency	transparency	NOUN
easat-8725	96	22	,	,	PUNCT
easat-8725	96	23	and	and	CCONJ
easat-8725	96	24	ineffective	ineffective	ADJ
easat-8725	96	25	regulatory	regulatory	ADJ
easat-8725	96	26	agencies	agency	NOUN
easat-8725	96	27	[	[	X
easat-8725	96	28	4	4	NUM
easat-8725	96	29	,	,	PUNCT
easat-8725	96	30	9	9	NUM
easat-8725	96	31	]	]	PUNCT
easat-8725	96	32	.	.	PUNCT
easat-8725	97	1	this	this	DET
easat-8725	97	2	theory	theory	NOUN
easat-8725	97	3	underscores	underscore	VERB
easat-8725	97	4	the	the	DET
easat-8725	97	5	need	need	NOUN
easat-8725	97	6	for	for	ADP
easat-8725	97	7	comprehensive	comprehensive	ADJ
easat-8725	97	8	policy	policy	NOUN
easat-8725	97	9	interventions	intervention	NOUN
easat-8725	97	10	aimed	aim	VERB
easat-8725	97	11	at	at	ADP
easat-8725	97	12	enhancing	enhance	VERB
easat-8725	97	13	institutional	institutional	ADJ
easat-8725	97	14	quality	quality	NOUN
easat-8725	97	15	as	as	ADP
easat-8725	97	16	a	a	DET
easat-8725	97	17	foundation	foundation	NOUN
easat-8725	97	18	for	for	ADP
easat-8725	97	19	attracting	attract	VERB
easat-8725	97	20	and	and	CCONJ
easat-8725	97	21	retaining	retain	VERB
easat-8725	97	22	foreign	foreign	ADJ
easat-8725	97	23	portfolio	portfolio	NOUN
easat-8725	97	24	capital	capital	NOUN
easat-8725	97	25	in	in	ADP
easat-8725	97	26	nigeria	nigeria	PROPN
easat-8725	97	27	2.5	2.5	NUM
easat-8725	97	28	.	.	PUNCT
easat-8725	98	1	empirical	empirical	ADJ
easat-8725	98	2	review	review	VERB
easat-8725	98	3	extensive	extensive	ADJ
easat-8725	98	4	empirical	empirical	ADJ
easat-8725	98	5	research	research	NOUN
easat-8725	98	6	has	have	AUX
easat-8725	98	7	sought	seek	VERB
easat-8725	98	8	to	to	PART
easat-8725	98	9	explore	explore	VERB
easat-8725	98	10	the	the	DET
easat-8725	98	11	relationship	relationship	NOUN
easat-8725	98	12	between	between	ADP
easat-8725	98	13	capital	capital	NOUN
easat-8725	98	14	market	market	NOUN
easat-8725	98	15	development	development	NOUN
easat-8725	98	16	and	and	CCONJ
easat-8725	98	17	foreign	foreign	ADJ
easat-8725	98	18	portfolio	portfolio	NOUN
easat-8725	98	19	investment	investment	NOUN
easat-8725	98	20	(	(	PUNCT
easat-8725	98	21	fpi	fpi	PROPN
easat-8725	98	22	)	)	PUNCT
easat-8725	98	23	in	in	ADP
easat-8725	98	24	nigeria	nigeria	PROPN
easat-8725	98	25	,	,	PUNCT
easat-8725	98	26	yielding	yield	VERB
easat-8725	98	27	diverse	diverse	ADV
easat-8725	98	28	and	and	CCONJ
easat-8725	98	29	sometimes	sometimes	ADV
easat-8725	98	30	conflicting	conflicting	ADJ
easat-8725	98	31	findings	finding	NOUN
easat-8725	98	32	.	.	PUNCT
easat-8725	99	1	adumah	adumah	PROPN
easat-8725	99	2	,	,	PUNCT
easat-8725	99	3	et	et	PROPN
easat-8725	99	4	al	al	PROPN
easat-8725	99	5	.	.	PUNCT
easat-8725	100	1	[	[	X
easat-8725	100	2	1	1	X
easat-8725	100	3	]	]	PUNCT
easat-8725	100	4	examined	examine	VERB
easat-8725	100	5	the	the	DET
easat-8725	100	6	nexus	nexus	NOUN
easat-8725	100	7	between	between	ADP
easat-8725	100	8	fpi	fpi	PROPN
easat-8725	100	9	and	and	CCONJ
easat-8725	100	10	capital	capital	NOUN
easat-8725	100	11	market	market	NOUN
easat-8725	100	12	growth	growth	NOUN
easat-8725	100	13	,	,	PUNCT
easat-8725	100	14	demonstrating	demonstrate	VERB
easat-8725	100	15	that	that	SCONJ
easat-8725	100	16	improvements	improvement	NOUN
easat-8725	100	17	in	in	ADP
easat-8725	100	18	market	market	NOUN
easat-8725	100	19	capitalization	capitalization	NOUN
easat-8725	100	20	and	and	CCONJ
easat-8725	100	21	liquidity	liquidity	NOUN
easat-8725	100	22	have	have	VERB
easat-8725	100	23	a	a	DET
easat-8725	100	24	significant	significant	ADJ
easat-8725	100	25	positive	positive	ADJ
easat-8725	100	26	effect	effect	NOUN
easat-8725	100	27	on	on	ADP
easat-8725	100	28	attracting	attract	VERB
easat-8725	100	29	foreign	foreign	ADJ
easat-8725	100	30	investors	investor	NOUN
easat-8725	100	31	.	.	PUNCT
easat-8725	101	1	their	their	PRON
easat-8725	101	2	panel	panel	NOUN
easat-8725	101	3	regression	regression	NOUN
easat-8725	101	4	analysis	analysis	NOUN
easat-8725	101	5	underscored	underscore	VERB
easat-8725	101	6	the	the	DET
easat-8725	101	7	importance	importance	NOUN
easat-8725	101	8	of	of	ADP
easat-8725	101	9	financial	financial	ADJ
easat-8725	101	10	reforms	reform	NOUN
easat-8725	101	11	and	and	CCONJ
easat-8725	101	12	market	market	NOUN
easat-8725	101	13	infrastructure	infrastructure	NOUN
easat-8725	101	14	in	in	ADP
easat-8725	101	15	reducing	reduce	VERB
easat-8725	101	16	information	information	NOUN
easat-8725	101	17	asymmetries	asymmetry	NOUN
easat-8725	101	18	and	and	CCONJ
easat-8725	101	19	transaction	transaction	NOUN
easat-8725	101	20	costs	cost	NOUN
easat-8725	101	21	.	.	PUNCT
easat-8725	102	1	similarly	similarly	ADV
easat-8725	102	2	,	,	PUNCT
easat-8725	102	3	osuka	osuka	PROPN
easat-8725	102	4	,	,	PUNCT
easat-8725	102	5	et	et	PROPN
easat-8725	102	6	al	al	PROPN
easat-8725	102	7	.	.	PUNCT
easat-8725	103	1	[	[	X
easat-8725	103	2	6	6	NUM
easat-8725	103	3	]	]	PUNCT
easat-8725	103	4	found	find	VERB
easat-8725	103	5	that	that	SCONJ
easat-8725	103	6	stock	stock	NOUN
easat-8725	103	7	market	market	NOUN
easat-8725	103	8	capitalization	capitalization	NOUN
easat-8725	103	9	and	and	CCONJ
easat-8725	103	10	turnover	turnover	NOUN
easat-8725	103	11	ratios	ratio	NOUN
easat-8725	103	12	were	be	AUX
easat-8725	103	13	critical	critical	ADJ
easat-8725	103	14	determinants	determinant	NOUN
easat-8725	103	15	of	of	ADP
easat-8725	103	16	fpi	fpi	PROPN
easat-8725	103	17	inflows	inflow	NOUN
easat-8725	103	18	,	,	PUNCT
easat-8725	103	19	albeit	albeit	SCONJ
easat-8725	103	20	with	with	ADP
easat-8725	103	21	caveats	caveat	NOUN
easat-8725	103	22	regarding	regard	VERB
easat-8725	103	23	the	the	DET
easat-8725	103	24	sensitivity	sensitivity	NOUN
easat-8725	103	25	of	of	ADP
easat-8725	103	26	such	such	ADJ
easat-8725	103	27	inflows	inflow	NOUN
easat-8725	103	28	to	to	ADP
easat-8725	103	29	macroeconomic	macroeconomic	ADJ
easat-8725	103	30	shocks	shock	NOUN
easat-8725	103	31	and	and	CCONJ
easat-8725	103	32	policy	policy	NOUN
easat-8725	103	33	uncertainty	uncertainty	NOUN
easat-8725	103	34	.	.	PUNCT
easat-8725	104	1	conversely	conversely	ADV
easat-8725	104	2	,	,	PUNCT
easat-8725	104	3	studies	study	NOUN
easat-8725	104	4	like	like	ADP
easat-8725	104	5	ozili	ozili	NOUN
easat-8725	104	6	[	[	X
easat-8725	104	7	7	7	NUM
easat-8725	104	8	]	]	PUNCT
easat-8725	104	9	and	and	CCONJ
easat-8725	104	10	araoye	araoye	VERB
easat-8725	105	1	[	[	X
easat-8725	105	2	17	17	NUM
easat-8725	105	3	]	]	X
easat-8725	105	4	present	present	VERB
easat-8725	105	5	a	a	DET
easat-8725	105	6	more	more	ADV
easat-8725	105	7	nuanced	nuanced	ADJ
easat-8725	105	8	picture	picture	NOUN
easat-8725	105	9	,	,	PUNCT
easat-8725	105	10	noting	note	VERB
easat-8725	105	11	that	that	SCONJ
easat-8725	105	12	while	while	SCONJ
easat-8725	105	13	fpi	fpi	PROPN
easat-8725	105	14	responds	respond	VERB
easat-8725	105	15	positively	positively	ADV
easat-8725	105	16	to	to	ADP
easat-8725	105	17	capital	capital	NOUN
easat-8725	105	18	market	market	NOUN
easat-8725	105	19	expansion	expansion	NOUN
easat-8725	105	20	in	in	ADP
easat-8725	105	21	the	the	DET
easat-8725	105	22	short	short	ADJ
easat-8725	105	23	term	term	NOUN
easat-8725	105	24	,	,	PUNCT
easat-8725	105	25	these	these	DET
easat-8725	105	26	inflows	inflow	NOUN
easat-8725	105	27	tend	tend	VERB
easat-8725	105	28	to	to	PART
easat-8725	105	29	be	be	AUX
easat-8725	105	30	volatile	volatile	ADJ
easat-8725	105	31	and	and	CCONJ
easat-8725	105	32	prone	prone	ADJ
easat-8725	105	33	to	to	ADP
easat-8725	105	34	rapid	rapid	ADJ
easat-8725	105	35	reversals	reversal	NOUN
easat-8725	105	36	,	,	PUNCT
easat-8725	105	37	particularly	particularly	ADV
easat-8725	105	38	during	during	ADP
easat-8725	105	39	periods	period	NOUN
easat-8725	105	40	marked	mark	VERB
easat-8725	105	41	by	by	ADP
easat-8725	105	42	exchange	exchange	NOUN
easat-8725	105	43	rate	rate	NOUN
easat-8725	105	44	fluctuations	fluctuation	NOUN
easat-8725	105	45	and	and	CCONJ
easat-8725	105	46	heightened	heighten	VERB
easat-8725	105	47	political	political	ADJ
easat-8725	105	48	risk	risk	NOUN
easat-8725	105	49	.	.	PUNCT
easat-8725	106	1	ozili	ozili	NOUN
easat-8725	107	1	[	[	X
easat-8725	107	2	7	7	X
easat-8725	107	3	]	]	PUNCT
easat-8725	107	4	specifically	specifically	ADV
easat-8725	107	5	highlights	highlight	VERB
easat-8725	107	6	the	the	DET
easat-8725	107	7	adverse	adverse	ADJ
easat-8725	107	8	effects	effect	NOUN
easat-8725	107	9	of	of	ADP
easat-8725	107	10	currency	currency	NOUN
easat-8725	107	11	depreciation	depreciation	NOUN
easat-8725	107	12	and	and	CCONJ
easat-8725	107	13	repatriation	repatriation	NOUN
easat-8725	107	14	risk	risk	NOUN
easat-8725	107	15	on	on	ADP
easat-8725	107	16	foreign	foreign	ADJ
easat-8725	107	17	investor	investor	NOUN
easat-8725	107	18	confidence	confidence	NOUN
easat-8725	107	19	,	,	PUNCT
easat-8725	107	20	which	which	PRON
easat-8725	107	21	often	often	ADV
easat-8725	107	22	undermines	undermine	VERB
easat-8725	107	23	the	the	DET
easat-8725	107	24	stabilizing	stabilize	VERB
easat-8725	107	25	role	role	NOUN
easat-8725	107	26	that	that	PRON
easat-8725	107	27	capital	capital	NOUN
easat-8725	107	28	markets	market	NOUN
easat-8725	107	29	are	be	AUX
easat-8725	107	30	expected	expect	VERB
easat-8725	107	31	to	to	PART
easat-8725	107	32	play	play	VERB
easat-8725	107	33	.	.	PUNCT
easat-8725	108	1	these	these	DET
easat-8725	108	2	findings	finding	NOUN
easat-8725	108	3	align	align	VERB
easat-8725	108	4	with	with	ADP
easat-8725	108	5	osuka	osuka	PROPN
easat-8725	108	6	,	,	PUNCT
easat-8725	108	7	et	et	PROPN
easat-8725	108	8	al	al	PROPN
easat-8725	108	9	.	.	PUNCT
easat-8725	109	1	[	[	X
easat-8725	109	2	6	6	NUM
easat-8725	109	3	]	]	PUNCT
easat-8725	109	4	observation	observation	NOUN
easat-8725	109	5	that	that	SCONJ
easat-8725	109	6	exchange	exchange	NOUN
easat-8725	109	7	rate	rate	NOUN
easat-8725	109	8	volatility	volatility	NOUN
easat-8725	109	9	significantly	significantly	ADV
easat-8725	109	10	moderates	moderate	VERB
easat-8725	109	11	the	the	DET
easat-8725	109	12	relationship	relationship	NOUN
easat-8725	109	13	between	between	ADP
easat-8725	109	14	capital	capital	NOUN
easat-8725	109	15	market	market	NOUN
easat-8725	109	16	performance	performance	NOUN
easat-8725	109	17	and	and	CCONJ
easat-8725	109	18	foreign	foreign	ADJ
easat-8725	109	19	portfolio	portfolio	NOUN
easat-8725	109	20	inflows	inflow	NOUN
easat-8725	109	21	.	.	PUNCT
easat-8725	110	1	institutional	institutional	ADJ
easat-8725	110	2	quality	quality	NOUN
easat-8725	110	3	and	and	CCONJ
easat-8725	110	4	regulatory	regulatory	ADJ
easat-8725	110	5	environment	environment	NOUN
easat-8725	110	6	emerge	emerge	VERB
easat-8725	110	7	as	as	ADP
easat-8725	110	8	fundamental	fundamental	ADJ
easat-8725	110	9	moderating	moderating	NOUN
easat-8725	110	10	variables	variable	NOUN
easat-8725	110	11	.	.	PUNCT
easat-8725	111	1	boboye	boboye	PROPN
easat-8725	111	2	,	,	PUNCT
easat-8725	111	3	et	et	PROPN
easat-8725	111	4	al	al	PROPN
easat-8725	111	5	.	.	PUNCT
easat-8725	112	1	[	[	X
easat-8725	112	2	8	8	NUM
easat-8725	112	3	]	]	PUNCT
easat-8725	112	4	demonstrated	demonstrate	VERB
easat-8725	112	5	that	that	SCONJ
easat-8725	112	6	regulatory	regulatory	ADJ
easat-8725	112	7	effectiveness	effectiveness	NOUN
easat-8725	112	8	,	,	PUNCT
easat-8725	112	9	investor	investor	NOUN
easat-8725	112	10	protection	protection	NOUN
easat-8725	112	11	,	,	PUNCT
easat-8725	112	12	and	and	CCONJ
easat-8725	112	13	enforcement	enforcement	NOUN
easat-8725	112	14	of	of	ADP
easat-8725	112	15	market	market	NOUN
easat-8725	112	16	rules	rule	NOUN
easat-8725	112	17	critically	critically	ADV
easat-8725	112	18	influence	influence	VERB
easat-8725	112	19	the	the	DET
easat-8725	112	20	volume	volume	NOUN
easat-8725	112	21	and	and	CCONJ
easat-8725	112	22	stability	stability	NOUN
easat-8725	112	23	of	of	ADP
easat-8725	112	24	fpi	fpi	PROPN
easat-8725	112	25	inflows	inflow	NOUN
easat-8725	112	26	.	.	PUNCT
easat-8725	113	1	they	they	PRON
easat-8725	113	2	found	find	VERB
easat-8725	113	3	that	that	SCONJ
easat-8725	113	4	despite	despite	SCONJ
easat-8725	113	5	771	771	NUM
easat-8725	113	6	edelweiss	edelweiss	PROPN
easat-8725	113	7	applied	apply	VERB
easat-8725	113	8	science	science	NOUN
easat-8725	113	9	and	and	CCONJ
easat-8725	113	10	technology	technology	NOUN
easat-8725	113	11	issn	issn	PROPN
easat-8725	113	12	:	:	PUNCT
easat-8725	113	13	2576	2576	NUM
easat-8725	113	14	-	-	SYM
easat-8725	113	15	8484	8484	NUM
easat-8725	113	16	vol	vol	NOUN
easat-8725	113	17	.	.	PROPN
easat-8725	113	18	9	9	NUM
easat-8725	113	19	,	,	PUNCT
easat-8725	113	20	no	no	INTJ
easat-8725	113	21	.	.	NOUN
easat-8725	113	22	7	7	NUM
easat-8725	113	23	:	:	PUNCT
easat-8725	113	24	767	767	NUM
easat-8725	113	25	-	-	SYM
easat-8725	113	26	779	779	NUM
easat-8725	113	27	,	,	PUNCT
easat-8725	113	28	2025	2025	NUM
easat-8725	113	29	doi	doi	NOUN
easat-8725	113	30	:	:	PUNCT
easat-8725	113	31	10.55214/25768484.v9i7.8725	10.55214/25768484.v9i7.8725	NUM
easat-8725	113	32	©	©	PROPN
easat-8725	113	33	2025	2025	NUM
easat-8725	113	34	by	by	ADP
easat-8725	113	35	the	the	DET
easat-8725	113	36	authors	author	NOUN
easat-8725	113	37	;	;	PUNCT
easat-8725	113	38	licensee	licensee	PROPN
easat-8725	113	39	learning	learn	VERB
easat-8725	113	40	gate	gate	PROPN
easat-8725	113	41	improvements	improvement	NOUN
easat-8725	113	42	in	in	ADP
easat-8725	113	43	market	market	NOUN
easat-8725	113	44	infrastructure	infrastructure	NOUN
easat-8725	113	45	,	,	PUNCT
easat-8725	113	46	weaknesses	weakness	NOUN
easat-8725	113	47	in	in	ADP
easat-8725	113	48	governance	governance	NOUN
easat-8725	113	49	and	and	CCONJ
easat-8725	113	50	regulatory	regulatory	ADJ
easat-8725	113	51	enforcement	enforcement	NOUN
easat-8725	113	52	deter	deter	VERB
easat-8725	113	53	long	long	ADJ
easat-8725	113	54	-	-	PUNCT
easat-8725	113	55	term	term	NOUN
easat-8725	113	56	foreign	foreign	ADJ
easat-8725	113	57	investment	investment	NOUN
easat-8725	113	58	.	.	PUNCT
easat-8725	114	1	this	this	DET
easat-8725	114	2	perspective	perspective	NOUN
easat-8725	114	3	is	be	AUX
easat-8725	114	4	supported	support	VERB
easat-8725	114	5	by	by	ADP
easat-8725	114	6	dada	dada	PROPN
easat-8725	114	7	and	and	CCONJ
easat-8725	114	8	abanikanda	abanikanda	NOUN
easat-8725	115	1	[	[	X
easat-8725	115	2	11	11	NUM
easat-8725	115	3	]	]	PUNCT
easat-8725	115	4	who	who	PRON
easat-8725	115	5	noted	note	VERB
easat-8725	115	6	that	that	SCONJ
easat-8725	115	7	institutional	institutional	ADJ
easat-8725	115	8	fragility	fragility	NOUN
easat-8725	115	9	undermines	undermine	VERB
easat-8725	115	10	the	the	DET
easat-8725	115	11	efficacy	efficacy	NOUN
easat-8725	115	12	of	of	ADP
easat-8725	115	13	capital	capital	NOUN
easat-8725	115	14	market	market	NOUN
easat-8725	115	15	reforms	reform	NOUN
easat-8725	115	16	and	and	CCONJ
easat-8725	115	17	hinders	hinder	VERB
easat-8725	115	18	the	the	DET
easat-8725	115	19	retention	retention	NOUN
easat-8725	115	20	of	of	ADP
easat-8725	115	21	foreign	foreign	ADJ
easat-8725	115	22	capital	capital	NOUN
easat-8725	115	23	.	.	PUNCT
easat-8725	116	1	further	far	ADV
easat-8725	116	2	,	,	PUNCT
easat-8725	116	3	empirical	empirical	ADJ
easat-8725	116	4	evidence	evidence	NOUN
easat-8725	116	5	reveals	reveal	VERB
easat-8725	116	6	that	that	SCONJ
easat-8725	116	7	global	global	ADJ
easat-8725	116	8	financial	financial	ADJ
easat-8725	116	9	cycles	cycle	NOUN
easat-8725	116	10	play	play	VERB
easat-8725	116	11	a	a	DET
easat-8725	116	12	pivotal	pivotal	ADJ
easat-8725	116	13	role	role	NOUN
easat-8725	116	14	in	in	ADP
easat-8725	116	15	shaping	shape	VERB
easat-8725	116	16	fpi	fpi	PROPN
easat-8725	116	17	flows	flow	NOUN
easat-8725	116	18	to	to	ADP
easat-8725	116	19	nigeria	nigeria	PROPN
easat-8725	116	20	.	.	PUNCT
easat-8725	117	1	mairafi	mairafi	PROPN
easat-8725	117	2	,	,	PUNCT
easat-8725	117	3	et	et	PROPN
easat-8725	117	4	al	al	PROPN
easat-8725	117	5	.	.	PUNCT
easat-8725	118	1	[	[	X
easat-8725	118	2	9	9	NUM
easat-8725	118	3	]	]	PUNCT
easat-8725	118	4	showed	show	VERB
easat-8725	118	5	that	that	SCONJ
easat-8725	118	6	monetary	monetary	ADJ
easat-8725	118	7	policy	policy	NOUN
easat-8725	118	8	changes	change	NOUN
easat-8725	118	9	and	and	CCONJ
easat-8725	118	10	risk	risk	NOUN
easat-8725	118	11	aversion	aversion	NOUN
easat-8725	118	12	shifts	shift	NOUN
easat-8725	118	13	in	in	ADP
easat-8725	118	14	advanced	advanced	ADJ
easat-8725	118	15	economies	economy	NOUN
easat-8725	118	16	result	result	VERB
easat-8725	118	17	in	in	ADP
easat-8725	118	18	significant	significant	ADJ
easat-8725	118	19	volatility	volatility	NOUN
easat-8725	118	20	in	in	ADP
easat-8725	118	21	capital	capital	NOUN
easat-8725	118	22	flows	flow	NOUN
easat-8725	118	23	to	to	ADP
easat-8725	118	24	sub	sub	ADJ
easat-8725	118	25	-	-	ADJ
easat-8725	118	26	saharan	saharan	ADJ
easat-8725	118	27	africa	africa	PROPN
easat-8725	118	28	,	,	PUNCT
easat-8725	118	29	including	include	VERB
easat-8725	118	30	nigeria	nigeria	PROPN
easat-8725	118	31	.	.	PUNCT
easat-8725	119	1	this	this	DET
easat-8725	119	2	exposure	exposure	NOUN
easat-8725	119	3	to	to	ADP
easat-8725	119	4	global	global	ADJ
easat-8725	119	5	financial	financial	ADJ
easat-8725	119	6	conditions	condition	NOUN
easat-8725	119	7	complicates	complicate	VERB
easat-8725	119	8	efforts	effort	NOUN
easat-8725	119	9	to	to	PART
easat-8725	119	10	foster	foster	VERB
easat-8725	119	11	stable	stable	ADJ
easat-8725	119	12	foreign	foreign	ADJ
easat-8725	119	13	portfolio	portfolio	NOUN
easat-8725	119	14	inflows	inflow	NOUN
easat-8725	119	15	solely	solely	ADV
easat-8725	119	16	through	through	ADP
easat-8725	119	17	domestic	domestic	ADJ
easat-8725	119	18	capital	capital	NOUN
easat-8725	119	19	market	market	NOUN
easat-8725	119	20	development	development	NOUN
easat-8725	119	21	.	.	PUNCT
easat-8725	120	1	nwisienyi	nwisienyi	PROPN
easat-8725	120	2	and	and	CCONJ
easat-8725	120	3	okaro	okaro	VERB
easat-8725	120	4	[	[	X
easat-8725	120	5	10	10	NUM
easat-8725	120	6	]	]	PUNCT
easat-8725	120	7	reinforced	reinforce	VERB
easat-8725	120	8	this	this	DET
easat-8725	120	9	view	view	NOUN
easat-8725	120	10	,	,	PUNCT
easat-8725	120	11	emphasizing	emphasize	VERB
easat-8725	120	12	the	the	DET
easat-8725	120	13	need	need	NOUN
easat-8725	120	14	for	for	ADP
easat-8725	120	15	macroeconomic	macroeconomic	ADJ
easat-8725	120	16	stability	stability	NOUN
easat-8725	120	17	and	and	CCONJ
easat-8725	120	18	robust	robust	ADJ
easat-8725	120	19	institutional	institutional	ADJ
easat-8725	120	20	frameworks	framework	NOUN
easat-8725	120	21	to	to	PART
easat-8725	120	22	complement	complement	VERB
easat-8725	120	23	capital	capital	NOUN
easat-8725	120	24	market	market	NOUN
easat-8725	120	25	reforms	reform	NOUN
easat-8725	120	26	.	.	PUNCT
easat-8725	121	1	several	several	ADJ
easat-8725	121	2	empirical	empirical	ADJ
easat-8725	121	3	methodologies	methodology	NOUN
easat-8725	121	4	have	have	AUX
easat-8725	121	5	been	be	AUX
easat-8725	121	6	employed	employ	VERB
easat-8725	121	7	in	in	ADP
easat-8725	121	8	analyzing	analyze	VERB
easat-8725	121	9	these	these	DET
easat-8725	121	10	dynamics	dynamic	NOUN
easat-8725	121	11	.	.	PUNCT
easat-8725	122	1	okafor	okafor	PROPN
easat-8725	122	2	,	,	PUNCT
easat-8725	122	3	et	et	PROPN
easat-8725	122	4	al	al	PROPN
easat-8725	122	5	.	.	PUNCT
easat-8725	123	1	[	[	X
easat-8725	123	2	2	2	NUM
easat-8725	123	3	]	]	PUNCT
easat-8725	123	4	applied	apply	VERB
easat-8725	123	5	vector	vector	NOUN
easat-8725	123	6	error	error	NOUN
easat-8725	123	7	correction	correction	NOUN
easat-8725	123	8	models	model	NOUN
easat-8725	123	9	(	(	PUNCT
easat-8725	123	10	vecm	vecm	NOUN
easat-8725	123	11	)	)	PUNCT
easat-8725	123	12	to	to	PART
easat-8725	123	13	explore	explore	VERB
easat-8725	123	14	the	the	DET
easat-8725	123	15	long	long	ADV
easat-8725	123	16	-	-	PUNCT
easat-8725	123	17	run	run	VERB
easat-8725	123	18	and	and	CCONJ
easat-8725	123	19	short	short	ADJ
easat-8725	123	20	-	-	PUNCT
easat-8725	123	21	run	run	NOUN
easat-8725	123	22	causal	causal	ADJ
easat-8725	123	23	interactions	interaction	NOUN
easat-8725	123	24	between	between	ADP
easat-8725	123	25	market	market	NOUN
easat-8725	123	26	capitalization	capitalization	NOUN
easat-8725	123	27	and	and	CCONJ
easat-8725	123	28	fpi	fpi	PROPN
easat-8725	123	29	.	.	PUNCT
easat-8725	124	1	their	their	PRON
easat-8725	124	2	study	study	NOUN
easat-8725	124	3	confirmed	confirm	VERB
easat-8725	124	4	bidirectional	bidirectional	ADJ
easat-8725	124	5	causality	causality	NOUN
easat-8725	124	6	but	but	CCONJ
easat-8725	124	7	also	also	ADV
easat-8725	124	8	identified	identify	VERB
easat-8725	124	9	vulnerability	vulnerability	NOUN
easat-8725	124	10	to	to	ADP
easat-8725	124	11	external	external	ADJ
easat-8725	124	12	shocks	shock	NOUN
easat-8725	124	13	and	and	CCONJ
easat-8725	124	14	policy	policy	NOUN
easat-8725	124	15	inconsistencies	inconsistency	NOUN
easat-8725	124	16	.	.	PUNCT
easat-8725	125	1	likewise	likewise	ADV
easat-8725	125	2	,	,	PUNCT
easat-8725	125	3	araoye	araoye	NOUN
easat-8725	125	4	[	[	X
easat-8725	125	5	17	17	NUM
easat-8725	125	6	]	]	PUNCT
easat-8725	125	7	used	use	VERB
easat-8725	125	8	autoregressive	autoregressive	ADJ
easat-8725	125	9	distributed	distribute	VERB
easat-8725	125	10	lag	lag	NOUN
easat-8725	125	11	models	model	NOUN
easat-8725	125	12	to	to	PART
easat-8725	125	13	demonstrate	demonstrate	VERB
easat-8725	125	14	the	the	DET
easat-8725	125	15	short	short	ADJ
easat-8725	125	16	-	-	PUNCT
easat-8725	125	17	term	term	NOUN
easat-8725	125	18	sensitivity	sensitivity	NOUN
easat-8725	125	19	of	of	ADP
easat-8725	125	20	fpi	fpi	PROPN
easat-8725	125	21	to	to	ADP
easat-8725	125	22	macroeconomic	macroeconomic	ADJ
easat-8725	125	23	fluctuations	fluctuation	NOUN
easat-8725	125	24	and	and	CCONJ
easat-8725	125	25	institutional	institutional	ADJ
easat-8725	125	26	weaknesses	weakness	NOUN
easat-8725	125	27	in	in	ADP
easat-8725	125	28	nigeria	nigeria	PROPN
easat-8725	125	29	.	.	PUNCT
easat-8725	126	1	despite	despite	SCONJ
easat-8725	126	2	these	these	DET
easat-8725	126	3	contributions	contribution	NOUN
easat-8725	126	4	,	,	PUNCT
easat-8725	126	5	the	the	DET
easat-8725	126	6	literature	literature	NOUN
easat-8725	126	7	reveals	reveal	VERB
easat-8725	126	8	divergent	divergent	ADJ
easat-8725	126	9	findings	finding	NOUN
easat-8725	126	10	on	on	ADP
easat-8725	126	11	the	the	DET
easat-8725	126	12	sustainability	sustainability	NOUN
easat-8725	126	13	and	and	CCONJ
easat-8725	126	14	determinants	determinant	NOUN
easat-8725	126	15	of	of	ADP
easat-8725	126	16	fpi	fpi	PROPN
easat-8725	126	17	.	.	PUNCT
easat-8725	127	1	some	some	DET
easat-8725	127	2	authors	author	NOUN
easat-8725	127	3	emphasize	emphasize	VERB
easat-8725	127	4	the	the	DET
easat-8725	127	5	primacy	primacy	NOUN
easat-8725	127	6	of	of	ADP
easat-8725	127	7	capital	capital	NOUN
easat-8725	127	8	market	market	NOUN
easat-8725	127	9	development	development	NOUN
easat-8725	127	10	as	as	ADP
easat-8725	127	11	a	a	DET
easat-8725	127	12	driver	driver	NOUN
easat-8725	127	13	of	of	ADP
easat-8725	127	14	fpi	fpi	PROPN
easat-8725	127	15	[	[	X
easat-8725	127	16	1	1	NUM
easat-8725	127	17	,	,	PUNCT
easat-8725	127	18	6	6	NUM
easat-8725	127	19	]	]	PUNCT
easat-8725	127	20	while	while	SCONJ
easat-8725	127	21	others	other	NOUN
easat-8725	127	22	point	point	VERB
easat-8725	127	23	to	to	ADP
easat-8725	127	24	broader	broad	ADJ
easat-8725	127	25	macroeconomic	macroeconomic	ADJ
easat-8725	127	26	and	and	CCONJ
easat-8725	127	27	institutional	institutional	ADJ
easat-8725	127	28	factors	factor	NOUN
easat-8725	127	29	as	as	ADP
easat-8725	127	30	more	more	ADV
easat-8725	127	31	decisive	decisive	ADJ
easat-8725	127	32	[	[	X
easat-8725	127	33	8	8	NUM
easat-8725	127	34	,	,	PUNCT
easat-8725	127	35	9	9	NUM
easat-8725	127	36	]	]	PUNCT
easat-8725	127	37	.	.	PUNCT
easat-8725	128	1	this	this	DET
easat-8725	128	2	divergence	divergence	NOUN
easat-8725	128	3	signals	signal	VERB
easat-8725	128	4	a	a	DET
easat-8725	128	5	critical	critical	ADJ
easat-8725	128	6	research	research	NOUN
easat-8725	128	7	gap	gap	NOUN
easat-8725	128	8	regarding	regard	VERB
easat-8725	128	9	the	the	DET
easat-8725	128	10	integrated	integrate	VERB
easat-8725	128	11	influence	influence	NOUN
easat-8725	128	12	of	of	ADP
easat-8725	128	13	capital	capital	NOUN
easat-8725	128	14	market	market	NOUN
easat-8725	128	15	indicators	indicator	NOUN
easat-8725	128	16	and	and	CCONJ
easat-8725	128	17	macroeconomic	macroeconomic	ADJ
easat-8725	128	18	variables	variable	NOUN
easat-8725	128	19	on	on	ADP
easat-8725	128	20	fpi	fpi	PROPN
easat-8725	128	21	inflows	inflow	NOUN
easat-8725	128	22	,	,	PUNCT
easat-8725	128	23	particularly	particularly	ADV
easat-8725	128	24	in	in	ADP
easat-8725	128	25	frontier	frontier	NOUN
easat-8725	128	26	markets	market	NOUN
easat-8725	128	27	characterized	characterize	VERB
easat-8725	128	28	by	by	ADP
easat-8725	128	29	structural	structural	ADJ
easat-8725	128	30	vulnerabilities	vulnerability	NOUN
easat-8725	128	31	.	.	PUNCT
easat-8725	129	1	moreover	moreover	ADV
easat-8725	129	2	,	,	PUNCT
easat-8725	129	3	many	many	ADJ
easat-8725	129	4	studies	study	NOUN
easat-8725	129	5	focus	focus	VERB
easat-8725	129	6	narrowly	narrowly	ADV
easat-8725	129	7	on	on	ADP
easat-8725	129	8	aggregate	aggregate	ADJ
easat-8725	129	9	measures	measure	NOUN
easat-8725	129	10	such	such	ADJ
easat-8725	129	11	as	as	ADP
easat-8725	129	12	market	market	NOUN
easat-8725	129	13	capitalization	capitalization	NOUN
easat-8725	129	14	,	,	PUNCT
easat-8725	129	15	neglecting	neglect	VERB
easat-8725	129	16	other	other	ADJ
easat-8725	129	17	market	market	NOUN
easat-8725	129	18	attributes	attribute	NOUN
easat-8725	129	19	like	like	ADP
easat-8725	129	20	liquidity	liquidity	NOUN
easat-8725	129	21	,	,	PUNCT
easat-8725	129	22	asset	asset	NOUN
easat-8725	129	23	turnover	turnover	NOUN
easat-8725	129	24	,	,	PUNCT
easat-8725	129	25	and	and	CCONJ
easat-8725	129	26	market	market	NOUN
easat-8725	129	27	breadth	breadth	NOUN
easat-8725	129	28	,	,	PUNCT
easat-8725	129	29	which	which	PRON
easat-8725	129	30	could	could	AUX
easat-8725	129	31	influence	influence	VERB
easat-8725	129	32	foreign	foreign	ADJ
easat-8725	129	33	investor	investor	NOUN
easat-8725	129	34	behavior	behavior	NOUN
easat-8725	129	35	differently	differently	ADV
easat-8725	129	36	.	.	PUNCT
easat-8725	130	1	this	this	DET
easat-8725	130	2	omission	omission	NOUN
easat-8725	130	3	leaves	leave	VERB
easat-8725	130	4	unanswered	unanswered	ADJ
easat-8725	130	5	questions	question	NOUN
easat-8725	130	6	about	about	ADP
easat-8725	130	7	which	which	DET
easat-8725	130	8	specific	specific	ADJ
easat-8725	130	9	market	market	NOUN
easat-8725	130	10	characteristics	characteristic	NOUN
easat-8725	130	11	most	most	ADV
easat-8725	130	12	effectively	effectively	ADV
easat-8725	130	13	attract	attract	VERB
easat-8725	130	14	and	and	CCONJ
easat-8725	130	15	retain	retain	VERB
easat-8725	130	16	foreign	foreign	ADJ
easat-8725	130	17	portfolio	portfolio	NOUN
easat-8725	130	18	capital	capital	NOUN
easat-8725	130	19	.	.	PUNCT
easat-8725	131	1	additionally	additionally	ADV
easat-8725	131	2	,	,	PUNCT
easat-8725	131	3	the	the	DET
easat-8725	131	4	interaction	interaction	NOUN
easat-8725	131	5	effects	effect	NOUN
easat-8725	131	6	between	between	ADP
easat-8725	131	7	market	market	NOUN
easat-8725	131	8	performance	performance	NOUN
easat-8725	131	9	,	,	PUNCT
easat-8725	131	10	exchange	exchange	NOUN
easat-8725	131	11	rate	rate	NOUN
easat-8725	131	12	volatility	volatility	NOUN
easat-8725	131	13	,	,	PUNCT
easat-8725	131	14	and	and	CCONJ
easat-8725	131	15	political	political	ADJ
easat-8725	131	16	risk	risk	NOUN
easat-8725	131	17	are	be	AUX
easat-8725	131	18	underexplored	underexplored	ADJ
easat-8725	131	19	despite	despite	SCONJ
easat-8725	131	20	their	their	PRON
easat-8725	131	21	documented	document	VERB
easat-8725	131	22	importance	importance	NOUN
easat-8725	131	23	[	[	X
easat-8725	131	24	4	4	NUM
easat-8725	131	25	,	,	PUNCT
easat-8725	131	26	7	7	NUM
easat-8725	131	27	]	]	PUNCT
easat-8725	131	28	.	.	PUNCT
easat-8725	132	1	institutional	institutional	ADJ
easat-8725	132	2	dimensions	dimension	NOUN
easat-8725	132	3	remain	remain	VERB
easat-8725	132	4	another	another	DET
easat-8725	132	5	area	area	NOUN
easat-8725	132	6	requiring	require	VERB
easat-8725	132	7	deeper	deep	ADJ
easat-8725	132	8	examination	examination	NOUN
easat-8725	132	9	.	.	PUNCT
easat-8725	133	1	although	although	SCONJ
easat-8725	133	2	regulatory	regulatory	ADJ
easat-8725	133	3	quality	quality	NOUN
easat-8725	133	4	is	be	AUX
easat-8725	133	5	recognized	recognize	VERB
easat-8725	133	6	as	as	ADP
easat-8725	133	7	significant	significant	ADJ
easat-8725	133	8	,	,	PUNCT
easat-8725	133	9	the	the	DET
easat-8725	133	10	mechanisms	mechanism	NOUN
easat-8725	133	11	through	through	ADP
easat-8725	133	12	which	which	PRON
easat-8725	133	13	governance	governance	NOUN
easat-8725	133	14	reforms	reform	NOUN
easat-8725	133	15	translate	translate	VERB
easat-8725	133	16	into	into	ADP
easat-8725	133	17	enhanced	enhanced	ADJ
easat-8725	133	18	foreign	foreign	ADJ
easat-8725	133	19	investment	investment	NOUN
easat-8725	133	20	remain	remain	AUX
easat-8725	133	21	insufficiently	insufficiently	ADV
easat-8725	133	22	clarified	clarify	VERB
easat-8725	133	23	.	.	PUNCT
easat-8725	134	1	dada	dada	NOUN
easat-8725	134	2	and	and	CCONJ
easat-8725	134	3	abanikanda	abanikanda	NOUN
easat-8725	135	1	[	[	X
easat-8725	135	2	11	11	NUM
easat-8725	135	3	]	]	SYM
easat-8725	135	4	point	point	NOUN
easat-8725	135	5	to	to	ADP
easat-8725	135	6	institutional	institutional	ADJ
easat-8725	135	7	weaknesses	weakness	NOUN
easat-8725	135	8	as	as	ADP
easat-8725	135	9	a	a	DET
easat-8725	135	10	moderating	moderate	VERB
easat-8725	135	11	factor	factor	NOUN
easat-8725	135	12	but	but	CCONJ
easat-8725	135	13	call	call	VERB
easat-8725	135	14	for	for	ADP
easat-8725	135	15	more	more	ADJ
easat-8725	135	16	granular	granular	ADJ
easat-8725	135	17	analyses	analysis	NOUN
easat-8725	135	18	that	that	PRON
easat-8725	135	19	assess	assess	VERB
easat-8725	135	20	how	how	SCONJ
easat-8725	135	21	specific	specific	ADJ
easat-8725	135	22	regulatory	regulatory	ADJ
easat-8725	135	23	actions	action	NOUN
easat-8725	135	24	influence	influence	VERB
easat-8725	135	25	investor	investor	NOUN
easat-8725	135	26	perceptions	perception	NOUN
easat-8725	135	27	and	and	CCONJ
easat-8725	135	28	capital	capital	NOUN
easat-8725	135	29	flows	flow	NOUN
easat-8725	135	30	.	.	PUNCT
easat-8725	136	1	furthermore	furthermore	ADV
easat-8725	136	2	,	,	PUNCT
easat-8725	136	3	the	the	DET
easat-8725	136	4	impact	impact	NOUN
easat-8725	136	5	of	of	ADP
easat-8725	136	6	global	global	ADJ
easat-8725	136	7	financial	financial	ADJ
easat-8725	136	8	conditions	condition	NOUN
easat-8725	136	9	on	on	ADP
easat-8725	136	10	nigeria	nigeria	PROPN
easat-8725	136	11	’s	’s	PART
easat-8725	136	12	capital	capital	NOUN
easat-8725	136	13	market	market	NOUN
easat-8725	136	14	and	and	CCONJ
easat-8725	136	15	fpi	fpi	PROPN
easat-8725	136	16	is	be	AUX
easat-8725	136	17	often	often	ADV
easat-8725	136	18	treated	treat	VERB
easat-8725	136	19	as	as	ADP
easat-8725	136	20	exogenous	exogenous	ADJ
easat-8725	136	21	in	in	ADP
easat-8725	136	22	empirical	empirical	ADJ
easat-8725	136	23	models	model	NOUN
easat-8725	136	24	,	,	PUNCT
easat-8725	136	25	limiting	limit	VERB
easat-8725	136	26	understanding	understanding	NOUN
easat-8725	136	27	of	of	ADP
easat-8725	136	28	the	the	DET
easat-8725	136	29	endogenous	endogenous	ADJ
easat-8725	136	30	feedback	feedback	NOUN
easat-8725	136	31	loops	loop	NOUN
easat-8725	136	32	between	between	ADP
easat-8725	136	33	domestic	domestic	ADJ
easat-8725	136	34	market	market	NOUN
easat-8725	136	35	developments	development	NOUN
easat-8725	136	36	and	and	CCONJ
easat-8725	136	37	international	international	ADJ
easat-8725	136	38	investor	investor	NOUN
easat-8725	136	39	sentiment	sentiment	NOUN
easat-8725	136	40	.	.	PUNCT
easat-8725	137	1	recent	recent	ADJ
easat-8725	137	2	events	event	NOUN
easat-8725	137	3	,	,	PUNCT
easat-8725	137	4	including	include	VERB
easat-8725	137	5	the	the	DET
easat-8725	137	6	covid-19	covid-19	PROPN
easat-8725	137	7	pandemic	pandemic	ADJ
easat-8725	137	8	and	and	CCONJ
easat-8725	137	9	shifting	shift	VERB
easat-8725	137	10	global	global	ADJ
easat-8725	137	11	monetary	monetary	ADJ
easat-8725	137	12	policies	policy	NOUN
easat-8725	137	13	,	,	PUNCT
easat-8725	137	14	underscore	underscore	VERB
easat-8725	137	15	the	the	DET
easat-8725	137	16	urgency	urgency	NOUN
easat-8725	137	17	of	of	ADP
easat-8725	137	18	incorporating	incorporate	VERB
easat-8725	137	19	these	these	DET
easat-8725	137	20	dynamics	dynamic	NOUN
easat-8725	137	21	in	in	ADP
easat-8725	137	22	empirical	empirical	ADJ
easat-8725	137	23	investigations	investigation	NOUN
easat-8725	137	24	[	[	X
easat-8725	137	25	9	9	NUM
easat-8725	137	26	]	]	PUNCT
easat-8725	137	27	.	.	PUNCT
easat-8725	138	1	while	while	SCONJ
easat-8725	138	2	considerable	considerable	ADJ
easat-8725	138	3	empirical	empirical	ADJ
easat-8725	138	4	evidence	evidence	NOUN
easat-8725	138	5	exists	exist	VERB
easat-8725	138	6	on	on	ADP
easat-8725	138	7	the	the	DET
easat-8725	138	8	determinants	determinant	NOUN
easat-8725	138	9	and	and	CCONJ
easat-8725	138	10	effects	effect	NOUN
easat-8725	138	11	of	of	ADP
easat-8725	138	12	foreign	foreign	ADJ
easat-8725	138	13	portfolio	portfolio	NOUN
easat-8725	138	14	investment	investment	NOUN
easat-8725	138	15	in	in	ADP
easat-8725	138	16	nigeria	nigeria	PROPN
easat-8725	138	17	,	,	PUNCT
easat-8725	138	18	several	several	ADJ
easat-8725	138	19	gaps	gap	NOUN
easat-8725	138	20	remain	remain	VERB
easat-8725	138	21	.	.	PUNCT
easat-8725	139	1	these	these	PRON
easat-8725	139	2	include	include	VERB
easat-8725	139	3	insufficient	insufficient	ADJ
easat-8725	139	4	attention	attention	NOUN
easat-8725	139	5	to	to	ADP
easat-8725	139	6	the	the	DET
easat-8725	139	7	multidimensional	multidimensional	ADJ
easat-8725	139	8	aspects	aspect	NOUN
easat-8725	139	9	of	of	ADP
easat-8725	139	10	capital	capital	NOUN
easat-8725	139	11	market	market	NOUN
easat-8725	139	12	development	development	NOUN
easat-8725	139	13	,	,	PUNCT
easat-8725	139	14	inadequate	inadequate	ADJ
easat-8725	139	15	integration	integration	NOUN
easat-8725	139	16	of	of	ADP
easat-8725	139	17	macroeconomic	macroeconomic	ADJ
easat-8725	139	18	and	and	CCONJ
easat-8725	139	19	institutional	institutional	ADJ
easat-8725	139	20	moderators	moderator	NOUN
easat-8725	139	21	,	,	PUNCT
easat-8725	139	22	and	and	CCONJ
easat-8725	139	23	limited	limited	ADJ
easat-8725	139	24	incorporation	incorporation	NOUN
easat-8725	139	25	of	of	ADP
easat-8725	139	26	global	global	ADJ
easat-8725	139	27	financial	financial	ADJ
easat-8725	139	28	cycle	cycle	NOUN
easat-8725	139	29	influences	influence	NOUN
easat-8725	139	30	in	in	ADP
easat-8725	139	31	empirical	empirical	ADJ
easat-8725	139	32	models	model	NOUN
easat-8725	139	33	.	.	PUNCT
easat-8725	140	1	addressing	address	VERB
easat-8725	140	2	these	these	DET
easat-8725	140	3	gaps	gap	NOUN
easat-8725	140	4	is	be	AUX
easat-8725	140	5	essential	essential	ADJ
easat-8725	140	6	to	to	PART
easat-8725	140	7	develop	develop	VERB
easat-8725	140	8	a	a	DET
easat-8725	140	9	comprehensive	comprehensive	ADJ
easat-8725	140	10	understanding	understanding	NOUN
easat-8725	140	11	of	of	ADP
easat-8725	140	12	how	how	SCONJ
easat-8725	140	13	capital	capital	NOUN
easat-8725	140	14	markets	market	NOUN
easat-8725	140	15	can	can	AUX
easat-8725	140	16	sustainably	sustainably	ADV
easat-8725	140	17	attract	attract	VERB
easat-8725	140	18	foreign	foreign	ADJ
easat-8725	140	19	portfolio	portfolio	NOUN
easat-8725	140	20	investment	investment	NOUN
easat-8725	140	21	in	in	ADP
easat-8725	140	22	nigeria	nigeria	PROPN
easat-8725	140	23	.	.	PUNCT
easat-8725	141	1	3	3	X
easat-8725	141	2	.	.	X
easat-8725	141	3	methodology	methodology	NOUN
easat-8725	141	4	this	this	DET
easat-8725	141	5	study	study	NOUN
easat-8725	141	6	employed	employ	VERB
easat-8725	141	7	an	an	DET
easat-8725	141	8	ex	ex	X
easat-8725	141	9	post	post	X
easat-8725	141	10	facto	facto	X
easat-8725	141	11	research	research	NOUN
easat-8725	141	12	design	design	NOUN
easat-8725	141	13	,	,	PUNCT
easat-8725	141	14	which	which	PRON
easat-8725	141	15	was	be	AUX
easat-8725	141	16	well	well	ADV
easat-8725	141	17	-	-	PUNCT
easat-8725	141	18	suited	suit	VERB
easat-8725	141	19	for	for	ADP
easat-8725	141	20	analyzing	analyze	VERB
easat-8725	141	21	relationships	relationship	NOUN
easat-8725	141	22	between	between	ADP
easat-8725	141	23	variables	variable	NOUN
easat-8725	141	24	when	when	SCONJ
easat-8725	141	25	the	the	DET
easat-8725	141	26	researcher	researcher	NOUN
easat-8725	141	27	had	have	VERB
easat-8725	141	28	no	no	DET
easat-8725	141	29	control	control	NOUN
easat-8725	141	30	over	over	ADP
easat-8725	141	31	the	the	DET
easat-8725	141	32	independent	independent	ADJ
easat-8725	141	33	variables	variable	NOUN
easat-8725	141	34	,	,	PUNCT
easat-8725	141	35	as	as	SCONJ
easat-8725	141	36	they	they	PRON
easat-8725	141	37	had	have	AUX
easat-8725	141	38	already	already	ADV
easat-8725	141	39	occurred	occur	VERB
easat-8725	141	40	.	.	PUNCT
easat-8725	142	1	this	this	DET
easat-8725	142	2	non	non	ADJ
easat-8725	142	3	-	-	ADJ
easat-8725	142	4	experimental	experimental	ADJ
easat-8725	142	5	approach	approach	NOUN
easat-8725	142	6	was	be	AUX
easat-8725	142	7	appropriate	appropriate	ADJ
easat-8725	142	8	for	for	ADP
easat-8725	142	9	investigating	investigate	VERB
easat-8725	142	10	the	the	DET
easat-8725	142	11	impact	impact	NOUN
easat-8725	142	12	of	of	ADP
easat-8725	142	13	capital	capital	NOUN
easat-8725	142	14	market	market	NOUN
easat-8725	142	15	indicators	indicator	NOUN
easat-8725	142	16	on	on	ADP
easat-8725	142	17	foreign	foreign	ADJ
easat-8725	142	18	portfolio	portfolio	NOUN
easat-8725	142	19	investment	investment	NOUN
easat-8725	142	20	(	(	PUNCT
easat-8725	142	21	fpi	fpi	PROPN
easat-8725	142	22	)	)	PUNCT
easat-8725	142	23	because	because	SCONJ
easat-8725	142	24	it	it	PRON
easat-8725	142	25	relied	rely	VERB
easat-8725	142	26	on	on	ADP
easat-8725	142	27	historical	historical	ADJ
easat-8725	142	28	772	772	NUM
easat-8725	142	29	edelweiss	edelweiss	PROPN
easat-8725	142	30	applied	apply	VERB
easat-8725	142	31	science	science	NOUN
easat-8725	142	32	and	and	CCONJ
easat-8725	142	33	technology	technology	NOUN
easat-8725	142	34	issn	issn	PROPN
easat-8725	142	35	:	:	PUNCT
easat-8725	142	36	2576	2576	NUM
easat-8725	142	37	-	-	SYM
easat-8725	142	38	8484	8484	NUM
easat-8725	142	39	vol	vol	NOUN
easat-8725	142	40	.	.	PROPN
easat-8725	143	1	9	9	NUM
easat-8725	143	2	,	,	PUNCT
easat-8725	143	3	no	no	INTJ
easat-8725	143	4	.	.	NOUN
easat-8725	143	5	7	7	NUM
easat-8725	143	6	:	:	PUNCT
easat-8725	143	7	767	767	NUM
easat-8725	143	8	-	-	SYM
easat-8725	143	9	779	779	NUM
easat-8725	143	10	,	,	PUNCT
easat-8725	143	11	2025	2025	NUM
easat-8725	143	12	doi	doi	NOUN
easat-8725	143	13	:	:	PUNCT
easat-8725	143	14	10.55214/25768484.v9i7.8725	10.55214/25768484.v9i7.8725	NUM
easat-8725	143	15	©	©	PROPN
easat-8725	143	16	2025	2025	NUM
easat-8725	143	17	by	by	ADP
easat-8725	143	18	the	the	DET
easat-8725	143	19	authors	author	NOUN
easat-8725	143	20	;	;	PUNCT
easat-8725	144	1	licensee	licensee	PROPN
easat-8725	144	2	learning	learn	VERB
easat-8725	144	3	gate	gate	PROPN
easat-8725	144	4	data	datum	NOUN
easat-8725	144	5	and	and	CCONJ
easat-8725	144	6	did	do	AUX
easat-8725	144	7	not	not	PART
easat-8725	144	8	manipulate	manipulate	VERB
easat-8725	144	9	variables	variable	NOUN
easat-8725	144	10	but	but	CCONJ
easat-8725	144	11	observed	observe	VERB
easat-8725	144	12	their	their	PRON
easat-8725	144	13	natural	natural	ADJ
easat-8725	144	14	interactions	interaction	NOUN
easat-8725	144	15	over	over	ADP
easat-8725	144	16	time	time	NOUN
easat-8725	144	17	.	.	PUNCT
easat-8725	145	1	such	such	DET
easat-8725	145	2	a	a	DET
easat-8725	145	3	design	design	NOUN
easat-8725	145	4	allowed	allow	VERB
easat-8725	145	5	inference	inference	NOUN
easat-8725	145	6	about	about	ADP
easat-8725	145	7	the	the	DET
easat-8725	145	8	nature	nature	NOUN
easat-8725	145	9	and	and	CCONJ
easat-8725	145	10	strength	strength	NOUN
easat-8725	145	11	of	of	ADP
easat-8725	145	12	relationships	relationship	NOUN
easat-8725	145	13	without	without	ADP
easat-8725	145	14	asserting	assert	VERB
easat-8725	145	15	direct	direct	ADJ
easat-8725	145	16	causality	causality	NOUN
easat-8725	145	17	.	.	PUNCT
easat-8725	146	1	the	the	DET
easat-8725	146	2	study	study	NOUN
easat-8725	146	3	utilized	utilize	VERB
easat-8725	146	4	secondary	secondary	ADJ
easat-8725	146	5	data	datum	NOUN
easat-8725	146	6	sourced	source	VERB
easat-8725	146	7	primarily	primarily	ADV
easat-8725	146	8	from	from	ADP
easat-8725	146	9	authoritative	authoritative	ADJ
easat-8725	146	10	nigerian	nigerian	ADJ
easat-8725	146	11	institutions	institution	NOUN
easat-8725	146	12	,	,	PUNCT
easat-8725	146	13	including	include	VERB
easat-8725	146	14	the	the	DET
easat-8725	146	15	nigeria	nigeria	PROPN
easat-8725	146	16	stock	stock	PROPN
easat-8725	146	17	exchange	exchange	PROPN
easat-8725	146	18	fact	fact	NOUN
easat-8725	146	19	book	book	NOUN
easat-8725	146	20	,	,	PUNCT
easat-8725	146	21	nigeria	nigeria	PROPN
easat-8725	146	22	stock	stock	PROPN
easat-8725	146	23	exchange	exchange	PROPN
easat-8725	146	24	annual	annual	ADJ
easat-8725	146	25	reports	report	NOUN
easat-8725	146	26	,	,	PUNCT
easat-8725	146	27	the	the	DET
easat-8725	146	28	central	central	ADJ
easat-8725	146	29	bank	bank	PROPN
easat-8725	146	30	of	of	ADP
easat-8725	146	31	nigeria	nigeria	PROPN
easat-8725	146	32	statistical	statistical	ADJ
easat-8725	146	33	bulletin	bulletin	NOUN
easat-8725	146	34	,	,	PUNCT
easat-8725	146	35	and	and	CCONJ
easat-8725	146	36	the	the	DET
easat-8725	146	37	federal	federal	ADJ
easat-8725	146	38	office	office	NOUN
easat-8725	146	39	of	of	ADP
easat-8725	146	40	statistics	statistic	NOUN
easat-8725	146	41	publications	publication	NOUN
easat-8725	146	42	.	.	PUNCT
easat-8725	147	1	these	these	DET
easat-8725	147	2	datasets	dataset	NOUN
easat-8725	147	3	encompassed	encompass	VERB
easat-8725	147	4	key	key	ADJ
easat-8725	147	5	market	market	NOUN
easat-8725	147	6	variables	variable	NOUN
easat-8725	147	7	such	such	ADJ
easat-8725	147	8	as	as	ADP
easat-8725	147	9	market	market	NOUN
easat-8725	147	10	capitalization	capitalization	NOUN
easat-8725	147	11	,	,	PUNCT
easat-8725	147	12	value	value	NOUN
easat-8725	147	13	of	of	ADP
easat-8725	147	14	transactions	transaction	NOUN
easat-8725	147	15	,	,	PUNCT
easat-8725	147	16	and	and	CCONJ
easat-8725	147	17	volume	volume	NOUN
easat-8725	147	18	of	of	ADP
easat-8725	147	19	transactions	transaction	NOUN
easat-8725	147	20	.	.	PUNCT
easat-8725	148	1	the	the	DET
easat-8725	148	2	temporal	temporal	ADJ
easat-8725	148	3	scope	scope	NOUN
easat-8725	148	4	covered	cover	VERB
easat-8725	148	5	the	the	DET
easat-8725	148	6	period	period	NOUN
easat-8725	148	7	from	from	ADP
easat-8725	148	8	1987	1987	NUM
easat-8725	148	9	through	through	ADP
easat-8725	148	10	2023	2023	NUM
easat-8725	148	11	,	,	PUNCT
easat-8725	148	12	enabling	enable	VERB
easat-8725	148	13	a	a	DET
easat-8725	148	14	comprehensive	comprehensive	ADJ
easat-8725	148	15	longitudinal	longitudinal	ADJ
easat-8725	148	16	analysis	analysis	NOUN
easat-8725	148	17	that	that	PRON
easat-8725	148	18	captured	capture	VERB
easat-8725	148	19	market	market	NOUN
easat-8725	148	20	dynamics	dynamic	NOUN
easat-8725	148	21	over	over	ADP
easat-8725	148	22	several	several	ADJ
easat-8725	148	23	decades	decade	NOUN
easat-8725	148	24	.	.	PUNCT
easat-8725	149	1	the	the	DET
easat-8725	149	2	dependent	dependent	ADJ
easat-8725	149	3	variable	variable	NOUN
easat-8725	149	4	was	be	AUX
easat-8725	149	5	foreign	foreign	ADJ
easat-8725	149	6	portfolio	portfolio	NOUN
easat-8725	149	7	investment	investment	NOUN
easat-8725	149	8	(	(	PUNCT
easat-8725	149	9	fpi	fpi	PROPN
easat-8725	149	10	)	)	PUNCT
easat-8725	149	11	,	,	PUNCT
easat-8725	149	12	measured	measure	VERB
easat-8725	149	13	as	as	ADP
easat-8725	149	14	the	the	DET
easat-8725	149	15	annual	annual	ADJ
easat-8725	149	16	total	total	ADJ
easat-8725	149	17	inflows	inflow	NOUN
easat-8725	149	18	of	of	ADP
easat-8725	149	19	foreign	foreign	ADJ
easat-8725	149	20	investment	investment	NOUN
easat-8725	149	21	into	into	ADP
easat-8725	149	22	the	the	DET
easat-8725	149	23	nigerian	nigerian	ADJ
easat-8725	149	24	stock	stock	NOUN
easat-8725	149	25	market	market	NOUN
easat-8725	149	26	,	,	PUNCT
easat-8725	149	27	denominated	denominate	VERB
easat-8725	149	28	in	in	ADP
easat-8725	149	29	u.s	u.s	PROPN
easat-8725	149	30	.	.	PROPN
easat-8725	149	31	dollars	dollar	NOUN
easat-8725	149	32	.	.	PUNCT
easat-8725	150	1	this	this	DET
easat-8725	150	2	variable	variable	NOUN
easat-8725	150	3	captured	capture	VERB
easat-8725	150	4	the	the	DET
easat-8725	150	5	level	level	NOUN
easat-8725	150	6	of	of	ADP
easat-8725	150	7	foreign	foreign	ADJ
easat-8725	150	8	capital	capital	NOUN
easat-8725	150	9	attracted	attract	VERB
easat-8725	150	10	by	by	ADP
easat-8725	150	11	the	the	DET
easat-8725	150	12	nigerian	nigerian	ADJ
easat-8725	150	13	capital	capital	NOUN
easat-8725	150	14	market	market	NOUN
easat-8725	150	15	and	and	CCONJ
easat-8725	150	16	served	serve	VERB
easat-8725	150	17	as	as	ADP
easat-8725	150	18	the	the	DET
easat-8725	150	19	key	key	ADJ
easat-8725	150	20	outcome	outcome	NOUN
easat-8725	150	21	indicator	indicator	NOUN
easat-8725	150	22	in	in	ADP
easat-8725	150	23	the	the	DET
easat-8725	150	24	analysis	analysis	NOUN
easat-8725	150	25	.	.	PUNCT
easat-8725	151	1	data	datum	NOUN
easat-8725	151	2	consistency	consistency	NOUN
easat-8725	151	3	and	and	CCONJ
easat-8725	151	4	coverage	coverage	NOUN
easat-8725	151	5	over	over	ADP
easat-8725	151	6	the	the	DET
easat-8725	151	7	multi	multi	ADJ
easat-8725	151	8	-	-	ADJ
easat-8725	151	9	decade	decade	NOUN
easat-8725	151	10	period	period	NOUN
easat-8725	151	11	enhanced	enhance	VERB
easat-8725	151	12	the	the	DET
easat-8725	151	13	robustness	robustness	NOUN
easat-8725	151	14	of	of	ADP
easat-8725	151	15	the	the	DET
easat-8725	151	16	study	study	NOUN
easat-8725	151	17	’s	’s	PART
easat-8725	151	18	empirical	empirical	ADJ
easat-8725	151	19	findings	finding	NOUN
easat-8725	151	20	.	.	PUNCT
easat-8725	152	1	the	the	DET
easat-8725	152	2	independent	independent	ADJ
easat-8725	152	3	variables	variable	NOUN
easat-8725	152	4	included	include	VERB
easat-8725	152	5	several	several	ADJ
easat-8725	152	6	key	key	ADJ
easat-8725	152	7	capital	capital	NOUN
easat-8725	152	8	market	market	NOUN
easat-8725	152	9	indicators	indicator	NOUN
easat-8725	152	10	.	.	PUNCT
easat-8725	153	1	market	market	NOUN
easat-8725	153	2	capitalization	capitalization	NOUN
easat-8725	153	3	(	(	PUNCT
easat-8725	153	4	mc	mc	NOUN
easat-8725	153	5	)	)	PUNCT
easat-8725	153	6	served	serve	VERB
easat-8725	153	7	as	as	ADP
easat-8725	153	8	a	a	DET
easat-8725	153	9	proxy	proxy	NOUN
easat-8725	153	10	for	for	ADP
easat-8725	153	11	the	the	DET
easat-8725	153	12	size	size	NOUN
easat-8725	153	13	of	of	ADP
easat-8725	153	14	the	the	DET
easat-8725	153	15	stock	stock	NOUN
easat-8725	153	16	market	market	NOUN
easat-8725	153	17	,	,	PUNCT
easat-8725	153	18	representing	represent	VERB
easat-8725	153	19	the	the	DET
easat-8725	153	20	total	total	ADJ
easat-8725	153	21	market	market	NOUN
easat-8725	153	22	value	value	NOUN
easat-8725	153	23	of	of	ADP
easat-8725	153	24	outstanding	outstanding	ADJ
easat-8725	153	25	shares	share	NOUN
easat-8725	153	26	in	in	ADP
easat-8725	153	27	nigerian	nigerian	ADJ
easat-8725	153	28	naira	naira	PROPN
easat-8725	153	29	.	.	PUNCT
easat-8725	154	1	the	the	DET
easat-8725	154	2	all	all	DET
easat-8725	154	3	share	share	NOUN
easat-8725	154	4	index	index	NOUN
easat-8725	154	5	(	(	PUNCT
easat-8725	154	6	asi	asi	NOUN
easat-8725	154	7	)	)	PUNCT
easat-8725	154	8	reflected	reflect	VERB
easat-8725	154	9	overall	overall	ADJ
easat-8725	154	10	market	market	NOUN
easat-8725	154	11	performance	performance	NOUN
easat-8725	154	12	through	through	ADP
easat-8725	154	13	the	the	DET
easat-8725	154	14	weighted	weighted	ADJ
easat-8725	154	15	average	average	NOUN
easat-8725	154	16	of	of	ADP
easat-8725	154	17	traded	trade	VERB
easat-8725	154	18	stock	stock	NOUN
easat-8725	154	19	prices	price	NOUN
easat-8725	154	20	.	.	PUNCT
easat-8725	155	1	stock	stock	NOUN
easat-8725	155	2	market	market	NOUN
easat-8725	155	3	liquidity	liquidity	NOUN
easat-8725	155	4	(	(	PUNCT
easat-8725	155	5	sml	sml	PROPN
easat-8725	155	6	)	)	PUNCT
easat-8725	155	7	was	be	AUX
easat-8725	155	8	proxied	proxie	VERB
easat-8725	155	9	by	by	ADP
easat-8725	155	10	the	the	DET
easat-8725	155	11	turnover	turnover	NOUN
easat-8725	155	12	ratio	ratio	NOUN
easat-8725	155	13	,	,	PUNCT
easat-8725	155	14	calculated	calculate	VERB
easat-8725	155	15	as	as	ADP
easat-8725	155	16	the	the	DET
easat-8725	155	17	value	value	NOUN
easat-8725	155	18	of	of	ADP
easat-8725	155	19	shares	share	NOUN
easat-8725	155	20	traded	trade	VERB
easat-8725	155	21	relative	relative	ADV
easat-8725	155	22	to	to	ADP
easat-8725	155	23	market	market	NOUN
easat-8725	155	24	capitalization	capitalization	NOUN
easat-8725	155	25	,	,	PUNCT
easat-8725	155	26	indicating	indicate	VERB
easat-8725	155	27	trading	trading	NOUN
easat-8725	155	28	ease	ease	NOUN
easat-8725	155	29	.	.	PUNCT
easat-8725	156	1	the	the	DET
easat-8725	156	2	data	data	NOUN
easat-8725	156	3	analysis	analysis	NOUN
easat-8725	156	4	in	in	ADP
easat-8725	156	5	this	this	DET
easat-8725	156	6	study	study	NOUN
easat-8725	156	7	involved	involve	VERB
easat-8725	156	8	descriptive	descriptive	ADJ
easat-8725	156	9	statistics	statistic	NOUN
easat-8725	156	10	,	,	PUNCT
easat-8725	156	11	correlation	correlation	NOUN
easat-8725	156	12	analysis	analysis	NOUN
easat-8725	156	13	,	,	PUNCT
easat-8725	156	14	and	and	CCONJ
easat-8725	156	15	regression	regression	VERB
easat-8725	156	16	analysis	analysis	NOUN
easat-8725	156	17	conducted	conduct	VERB
easat-8725	156	18	using	use	VERB
easat-8725	156	19	eviews	eviews	PROPN
easat-8725	156	20	9.0	9.0	NUM
easat-8725	156	21	software	software	NOUN
easat-8725	156	22	.	.	PUNCT
easat-8725	157	1	descriptive	descriptive	ADJ
easat-8725	157	2	statistics	statistic	NOUN
easat-8725	157	3	provided	provide	VERB
easat-8725	157	4	summary	summary	NOUN
easat-8725	157	5	measures	measure	NOUN
easat-8725	157	6	such	such	ADJ
easat-8725	157	7	as	as	ADP
easat-8725	157	8	mean	mean	ADJ
easat-8725	157	9	,	,	PUNCT
easat-8725	157	10	range	range	NOUN
easat-8725	157	11	,	,	PUNCT
easat-8725	157	12	standard	standard	ADJ
easat-8725	157	13	deviation	deviation	NOUN
easat-8725	157	14	,	,	PUNCT
easat-8725	157	15	skewness	skewness	NOUN
easat-8725	157	16	,	,	PUNCT
easat-8725	157	17	and	and	CCONJ
easat-8725	157	18	kurtosis	kurtosis	VERB
easat-8725	157	19	to	to	PART
easat-8725	157	20	offer	offer	VERB
easat-8725	157	21	insights	insight	NOUN
easat-8725	157	22	into	into	ADP
easat-8725	157	23	the	the	DET
easat-8725	157	24	distribution	distribution	NOUN
easat-8725	157	25	and	and	CCONJ
easat-8725	157	26	characteristics	characteristic	NOUN
easat-8725	157	27	of	of	ADP
easat-8725	157	28	the	the	DET
easat-8725	157	29	variables	variable	NOUN
easat-8725	157	30	.	.	PUNCT
easat-8725	158	1	given	give	VERB
easat-8725	158	2	the	the	DET
easat-8725	158	3	time	time	NOUN
easat-8725	158	4	-	-	PUNCT
easat-8725	158	5	series	series	NOUN
easat-8725	158	6	nature	nature	NOUN
easat-8725	158	7	of	of	ADP
easat-8725	158	8	the	the	DET
easat-8725	158	9	data	datum	NOUN
easat-8725	158	10	,	,	PUNCT
easat-8725	158	11	stationarity	stationarity	NOUN
easat-8725	158	12	tests	test	NOUN
easat-8725	158	13	were	be	AUX
easat-8725	158	14	essential	essential	ADJ
easat-8725	158	15	to	to	PART
easat-8725	158	16	avoid	avoid	VERB
easat-8725	158	17	spurious	spurious	ADJ
easat-8725	158	18	regressions	regression	NOUN
easat-8725	158	19	;	;	PUNCT
easat-8725	158	20	thus	thus	ADV
easat-8725	158	21	,	,	PUNCT
easat-8725	158	22	the	the	DET
easat-8725	158	23	augmented	augment	VERB
easat-8725	158	24	dickey	dickey	NOUN
easat-8725	158	25	-	-	PUNCT
easat-8725	158	26	fuller	full	ADJ
easat-8725	158	27	(	(	PUNCT
easat-8725	158	28	adf	adf	NOUN
easat-8725	158	29	)	)	PUNCT
easat-8725	158	30	test	test	NOUN
easat-8725	158	31	was	be	AUX
easat-8725	158	32	employed	employ	VERB
easat-8725	158	33	to	to	PART
easat-8725	158	34	check	check	VERB
easat-8725	158	35	for	for	ADP
easat-8725	158	36	unit	unit	NOUN
easat-8725	158	37	roots	root	NOUN
easat-8725	158	38	and	and	CCONJ
easat-8725	158	39	ensure	ensure	VERB
easat-8725	158	40	variables	variable	NOUN
easat-8725	158	41	were	be	AUX
easat-8725	158	42	stationary	stationary	ADJ
easat-8725	158	43	.	.	PUNCT
easat-8725	159	1	following	follow	VERB
easat-8725	159	2	this	this	PRON
easat-8725	159	3	,	,	PUNCT
easat-8725	159	4	cointegration	cointegration	NOUN
easat-8725	159	5	analysis	analysis	NOUN
easat-8725	159	6	was	be	AUX
easat-8725	159	7	performed	perform	VERB
easat-8725	159	8	using	use	VERB
easat-8725	159	9	the	the	DET
easat-8725	159	10	johansen	johansen	PROPN
easat-8725	159	11	cointegration	cointegration	NOUN
easat-8725	159	12	to	to	ADP
easat-8725	159	13	established	establish	VERB
easat-8725	159	14	long	long	ADJ
easat-8725	159	15	run	run	NOUN
easat-8725	159	16	equilibrium	equilibrium	NOUN
easat-8725	159	17	among	among	ADP
easat-8725	159	18	the	the	DET
easat-8725	159	19	variables	variable	NOUN
easat-8725	159	20	,	,	PUNCT
easat-8725	159	21	serving	serve	VERB
easat-8725	159	22	as	as	ADP
easat-8725	159	23	a	a	DET
easat-8725	159	24	precursor	precursor	NOUN
easat-8725	159	25	to	to	ADP
easat-8725	159	26	the	the	DET
easat-8725	159	27	regression	regression	NOUN
easat-8725	159	28	analysis	analysis	NOUN
easat-8725	159	29	and	and	CCONJ
easat-8725	159	30	enabling	enable	VERB
easat-8725	159	31	a	a	DET
easat-8725	159	32	comprehensive	comprehensive	ADJ
easat-8725	159	33	examination	examination	NOUN
easat-8725	159	34	of	of	ADP
easat-8725	159	35	inter	inter	ADJ
easat-8725	159	36	-	-	ADJ
easat-8725	159	37	variable	variable	ADJ
easat-8725	159	38	dynamics	dynamic	NOUN
easat-8725	159	39	.	.	PUNCT
easat-8725	160	1	3.1	3.1	NUM
easat-8725	160	2	.	.	PUNCT
easat-8725	160	3	model	model	NOUN
easat-8725	160	4	specification	specification	NOUN
easat-8725	160	5	the	the	DET
easat-8725	160	6	relationship	relationship	NOUN
easat-8725	160	7	between	between	ADP
easat-8725	160	8	the	the	DET
easat-8725	160	9	independent	independent	ADJ
easat-8725	160	10	and	and	CCONJ
easat-8725	160	11	dependent	dependent	ADJ
easat-8725	160	12	variables	variable	NOUN
easat-8725	160	13	will	will	AUX
easat-8725	160	14	be	be	AUX
easat-8725	160	15	analyzed	analyze	VERB
easat-8725	160	16	using	use	VERB
easat-8725	160	17	a	a	DET
easat-8725	160	18	multiple	multiple	ADJ
easat-8725	160	19	regression	regression	NOUN
easat-8725	160	20	model	model	NOUN
easat-8725	160	21	.	.	PUNCT
easat-8725	161	1	the	the	DET
easat-8725	161	2	regression	regression	NOUN
easat-8725	161	3	model	model	NOUN
easat-8725	161	4	is	be	AUX
easat-8725	161	5	specified	specify	VERB
easat-8725	161	6	as	as	SCONJ
easat-8725	161	7	follows	follow	VERB
easat-8725	161	8	:	:	PUNCT
easat-8725	162	1	fpic	fpic	ADJ
easat-8725	162	2	=	=	PUNCT
easat-8725	162	3	β0	β0	NOUN
easat-8725	162	4	+	+	CCONJ
easat-8725	162	5	β1mcapt	β1mcapt	ADJ
easat-8725	162	6	+	+	CCONJ
easat-8725	162	7	β2	β2	ADJ
easat-8725	162	8	asit	asit	NOUN
easat-8725	162	9	+	+	CCONJ
easat-8725	162	10	β3	β3	VERB
easat-8725	162	11	vott	vott	NOUN
easat-8725	162	12	+	+	CCONJ
easat-8725	162	13	β4vstt+	β4vstt+	PROPN
easat-8725	162	14	β5ifrt	β5ifrt	NOUN
easat-8725	162	15	+	+	CCONJ
easat-8725	162	16	β6exrt	β6exrt	PROPN
easat-8725	162	17	+	+	CCONJ
easat-8725	162	18	ε	ε	PROPN
easat-8725	162	19	fpi=	fpi=	PROPN
easat-8725	162	20	foreign	foreign	ADJ
easat-8725	162	21	portfolio	portfolio	NOUN
easat-8725	162	22	investment	investment	NOUN
easat-8725	162	23	,	,	PUNCT
easat-8725	162	24	mcap	mcap	NOUN
easat-8725	162	25	=	=	NOUN
easat-8725	162	26	market	market	NOUN
easat-8725	162	27	capitalization	capitalization	NOUN
easat-8725	162	28	,	,	PUNCT
easat-8725	162	29	asi	asi	X
easat-8725	162	30	=	=	PUNCT
easat-8725	162	31	all	all	DET
easat-8725	162	32	share	share	NOUN
easat-8725	162	33	index	index	NOUN
easat-8725	162	34	,	,	PUNCT
easat-8725	162	35	vot	vot	NOUN
easat-8725	162	36	=	=	SYM
easat-8725	162	37	volume	volume	NOUN
easat-8725	162	38	of	of	ADP
easat-8725	162	39	transaction	transaction	NOUN
easat-8725	162	40	,	,	PUNCT
easat-8725	162	41	vst	vst	NOUN
easat-8725	162	42	=	=	SYM
easat-8725	162	43	value	value	NOUN
easat-8725	162	44	of	of	ADP
easat-8725	162	45	shares	share	NOUN
easat-8725	162	46	traded	trade	VERB
easat-8725	162	47	,	,	PUNCT
easat-8725	162	48	ifr	ifr	NOUN
easat-8725	162	49	=	=	PUNCT
easat-8725	162	50	inflation	inflation	NOUN
easat-8725	162	51	rate	rate	NOUN
easat-8725	162	52	,	,	PUNCT
easat-8725	162	53	exr	exr	PROPN
easat-8725	162	54	=	=	PUNCT
easat-8725	162	55	exchange	exchange	NOUN
easat-8725	162	56	rate	rate	NOUN
easat-8725	162	57	where	where	SCONJ
easat-8725	162	58	:	:	PUNCT
easat-8725	162	59	β0	β0	NOUN
easat-8725	162	60	=	=	SYM
easat-8725	162	61	constant	constant	ADJ
easat-8725	162	62	β1	β1	PROPN
easat-8725	162	63	-	-	PUNCT
easat-8725	162	64	β6	β6	NOUN
easat-8725	162	65	=	=	PUNCT
easat-8725	162	66	coefficients	coefficient	NOUN
easat-8725	162	67	of	of	ADP
easat-8725	162	68	the	the	DET
easat-8725	162	69	independent	independent	ADJ
easat-8725	162	70	variables	variable	NOUN
easat-8725	162	71	ε	ε	PROPN
easat-8725	162	72	=	=	SYM
easat-8725	162	73	error	error	NOUN
easat-8725	162	74	term	term	NOUN
easat-8725	162	75	3.2	3.2	NUM
easat-8725	162	76	.	.	PUNCT
easat-8725	163	1	apriori	apriori	PROPN
easat-8725	163	2	expectation	expectation	NOUN
easat-8725	163	3	based	base	VERB
easat-8725	163	4	on	on	ADP
easat-8725	163	5	the	the	DET
easat-8725	163	6	literature	literature	PROPN
easat-8725	163	7	review	review	NOUN
easat-8725	163	8	,	,	PUNCT
easat-8725	163	9	it	it	PRON
easat-8725	163	10	is	be	AUX
easat-8725	163	11	expected	expect	VERB
easat-8725	163	12	that	that	SCONJ
easat-8725	163	13	there	there	PRON
easat-8725	163	14	will	will	AUX
easat-8725	163	15	be	be	AUX
easat-8725	163	16	a	a	DET
easat-8725	163	17	positive	positive	ADJ
easat-8725	163	18	relationship	relationship	NOUN
easat-8725	163	19	between	between	ADP
easat-8725	163	20	market	market	NOUN
easat-8725	163	21	capitalization	capitalization	NOUN
easat-8725	163	22	,	,	PUNCT
easat-8725	163	23	all	all	DET
easat-8725	163	24	share	share	NOUN
easat-8725	163	25	index	index	NOUN
easat-8725	163	26	,	,	PUNCT
easat-8725	163	27	stock	stock	NOUN
easat-8725	163	28	market	market	NOUN
easat-8725	163	29	liquidity	liquidity	NOUN
easat-8725	163	30	,	,	PUNCT
easat-8725	163	31	value	value	NOUN
easat-8725	163	32	of	of	ADP
easat-8725	163	33	shares	share	NOUN
easat-8725	163	34	traded	trade	VERB
easat-8725	163	35	,	,	PUNCT
easat-8725	163	36	and	and	CCONJ
easat-8725	163	37	foreign	foreign	ADJ
easat-8725	163	38	portfolio	portfolio	NOUN
easat-8725	163	39	investment	investment	NOUN
easat-8725	163	40	.	.	PUNCT
easat-8725	164	1	it	it	PRON
easat-8725	164	2	is	be	AUX
easat-8725	164	3	expected	expect	VERB
easat-8725	164	4	that	that	SCONJ
easat-8725	164	5	an	an	DET
easat-8725	164	6	increase	increase	NOUN
easat-8725	164	7	in	in	ADP
easat-8725	164	8	the	the	DET
easat-8725	164	9	independent	independent	ADJ
easat-8725	164	10	variables	variable	NOUN
easat-8725	164	11	will	will	AUX
easat-8725	164	12	result	result	VERB
easat-8725	164	13	in	in	ADP
easat-8725	164	14	an	an	DET
easat-8725	164	15	increase	increase	NOUN
easat-8725	164	16	in	in	ADP
easat-8725	164	17	foreign	foreign	ADJ
easat-8725	164	18	portfolio	portfolio	NOUN
easat-8725	164	19	investment	investment	NOUN
easat-8725	164	20	.	.	PUNCT
easat-8725	165	1	773	773	NUM
easat-8725	165	2	edelweiss	edelweiss	PROPN
easat-8725	165	3	applied	apply	VERB
easat-8725	165	4	science	science	NOUN
easat-8725	165	5	and	and	CCONJ
easat-8725	165	6	technology	technology	NOUN
easat-8725	165	7	issn	issn	PROPN
easat-8725	165	8	:	:	PUNCT
easat-8725	165	9	2576	2576	NUM
easat-8725	165	10	-	-	SYM
easat-8725	165	11	8484	8484	NUM
easat-8725	165	12	vol	vol	NOUN
easat-8725	165	13	.	.	PROPN
easat-8725	166	1	9	9	NUM
easat-8725	166	2	,	,	PUNCT
easat-8725	166	3	no	no	INTJ
easat-8725	166	4	.	.	NOUN
easat-8725	166	5	7	7	NUM
easat-8725	166	6	:	:	PUNCT
easat-8725	166	7	767	767	NUM
easat-8725	166	8	-	-	SYM
easat-8725	166	9	779	779	NUM
easat-8725	166	10	,	,	PUNCT
easat-8725	166	11	2025	2025	NUM
easat-8725	166	12	doi	doi	NOUN
easat-8725	166	13	:	:	PUNCT
easat-8725	166	14	10.55214/25768484.v9i7.8725	10.55214/25768484.v9i7.8725	NUM
easat-8725	166	15	©	©	PROPN
easat-8725	166	16	2025	2025	NUM
easat-8725	166	17	by	by	ADP
easat-8725	166	18	the	the	DET
easat-8725	166	19	authors	author	NOUN
easat-8725	166	20	;	;	PUNCT
easat-8725	166	21	licensee	licensee	PROPN
easat-8725	166	22	learning	learn	VERB
easat-8725	166	23	gate	gate	NOUN
easat-8725	166	24	table	table	NOUN
easat-8725	166	25	1	1	NUM
easat-8725	166	26	.	.	PUNCT
easat-8725	167	1	summary	summary	NOUN
easat-8725	167	2	of	of	ADP
easat-8725	167	3	descriptive	descriptive	ADJ
easat-8725	167	4	statistics	statistic	NOUN
easat-8725	167	5	for	for	ADP
easat-8725	167	6	the	the	DET
easat-8725	167	7	study	study	NOUN
easat-8725	167	8	variables	variable	NOUN
easat-8725	167	9	.	.	PUNCT
easat-8725	168	1	fpi	fpi	PROPN
easat-8725	168	2	asi	asi	PROPN
easat-8725	168	3	mcap	mcap	PROPN
easat-8725	168	4	vot	vot	PROPN
easat-8725	168	5	vst	vst	VERB
easat-8725	168	6	ifr	ifr	PROPN
easat-8725	168	7	exr	exr	PROPN
easat-8725	168	8	mean	mean	VERB
easat-8725	168	9	8902.104	8902.104	PROPN
easat-8725	168	10	17945.20	17945.20	NUM
easat-8725	168	11	8065.158	8065.158	NUM
easat-8725	168	12	820150.3	820150.3	NUM
easat-8725	168	13	472.0081	472.0081	PROPN
easat-8725	168	14	18.09784	18.09784	NUM
easat-8725	168	15	119.8137	119.8137	NUM
easat-8725	168	16	median	median	NOUN
easat-8725	168	17	2314.654	2314.654	PROPN
easat-8725	168	18	20128.94	20128.94	NUM
easat-8725	168	19	1359.300	1359.300	NUM
easat-8725	168	20	621717.0	621717.0	NUM
easat-8725	168	21	120.4000	120.4000	NUM
easat-8725	168	22	17.58562	17.58562	NUM
easat-8725	168	23	120.9702	120.9702	NUM
easat-8725	168	24	maximum	maximum	ADJ
easat-8725	168	25	40881.63	40881.63	NUM
easat-8725	168	26	57990.20	57990.20	NUM
easat-8725	168	27	42054.50	42054.50	NUM
easat-8725	168	28	3535631	3535631	NUM
easat-8725	168	29	.	.	PUNCT
easat-8725	169	1	2350.880	2350.880	NUM
easat-8725	169	2	29.80000	29.80000	NUM
easat-8725	169	3	399.9636	399.9636	NUM
easat-8725	169	4	minimum	minimum	NOUN
easat-8725	169	5	31.90870	31.90870	NUM
easat-8725	169	6	127.3000	127.3000	NUM
easat-8725	169	7	6.600000	6.600000	NUM
easat-8725	169	8	20525.00	20525.00	NUM
easat-8725	169	9	0.230000	0.230000	NUM
easat-8725	169	10	9.670000	9.670000	NUM
easat-8725	169	11	1.905330	1.905330	NUM
easat-8725	169	12	std	std	NOUN
easat-8725	169	13	.	.	PUNCT
easat-8725	169	14	dev	dev	PROPN
easat-8725	169	15	.	.	PROPN
easat-8725	170	1	11343.32	11343.32	NUM
easat-8725	170	2	15763.97	15763.97	NUM
easat-8725	170	3	11089.97	11089.97	NUM
easat-8725	170	4	929046.1	929046.1	NUM
easat-8725	170	5	588.0347	588.0347	NUM
easat-8725	170	6	4.126629	4.126629	NUM
easat-8725	170	7	109.5171	109.5171	NUM
easat-8725	170	8	skewness	skewness	NOUN
easat-8725	170	9	1.193150	1.193150	NUM
easat-8725	170	10	0.486230	0.486230	NUM
easat-8725	170	11	1.496767	1.496767	NUM
easat-8725	170	12	1.343364	1.343364	NUM
easat-8725	170	13	1.204474	1.204474	NUM
easat-8725	170	14	0.560406	0.560406	NUM
easat-8725	170	15	0.876763	0.876763	NUM
easat-8725	170	16	kurtosis	kurtosis	VERB
easat-8725	170	17	3.470397	3.470397	NUM
easat-8725	170	18	2.271576	2.271576	NUM
easat-8725	170	19	4.675979	4.675979	NUM
easat-8725	170	20	4.269290	4.269290	NUM
easat-8725	170	21	4.030259	4.030259	NUM
easat-8725	170	22	4.111624	4.111624	NUM
easat-8725	170	23	3.030838	3.030838	NUM
easat-8725	170	24	jarque	jarque	NOUN
easat-8725	170	25	-	-	PUNCT
easat-8725	170	26	bera	bera	NOUN
easat-8725	170	27	9.120037	9.120037	NUM
easat-8725	170	28	2.275932	2.275932	NUM
easat-8725	170	29	18.14565	18.14565	NUM
easat-8725	170	30	13.61231	13.61231	NUM
easat-8725	170	31	10.58272	10.58272	NUM
easat-8725	170	32	3.841723	3.841723	NUM
easat-8725	170	33	4.741870	4.741870	NUM
easat-8725	170	34	probability	probability	NOUN
easat-8725	170	35	0.010462	0.010462	NUM
easat-8725	170	36	0.320470	0.320470	NUM
easat-8725	170	37	0.000115	0.000115	NUM
easat-8725	171	1	0.001107	0.001107	NUM
easat-8725	171	2	0.005035	0.005035	NUM
easat-8725	171	3	0.146481	0.146481	NUM
easat-8725	171	4	0.093393	0.093393	NUM
easat-8725	171	5	4	4	NUM
easat-8725	171	6	.	.	PUNCT
easat-8725	171	7	result	result	NOUN
easat-8725	171	8	and	and	CCONJ
easat-8725	171	9	analysis	analysis	NOUN
easat-8725	171	10	the	the	DET
easat-8725	171	11	mean	mean	ADJ
easat-8725	171	12	value	value	NOUN
easat-8725	171	13	of	of	ADP
easat-8725	171	14	the	the	DET
easat-8725	171	15	fpi	fpi	PROPN
easat-8725	171	16	is	be	AUX
easat-8725	171	17	roughly	roughly	ADV
easat-8725	171	18	8,902.104	8,902.104	NUM
easat-8725	171	19	.	.	PUNCT
easat-8725	172	1	the	the	DET
easat-8725	172	2	median	median	NOUN
easat-8725	172	3	of	of	ADP
easat-8725	172	4	fpi	fpi	PROPN
easat-8725	172	5	is	be	AUX
easat-8725	172	6	2,314.654	2,314.654	NUM
easat-8725	172	7	.	.	PUNCT
easat-8725	173	1	the	the	DET
easat-8725	173	2	maximum	maximum	ADJ
easat-8725	173	3	documented	document	VERB
easat-8725	173	4	figure	figure	NOUN
easat-8725	173	5	for	for	ADP
easat-8725	173	6	fpi	fpi	PROPN
easat-8725	173	7	stands	stand	VERB
easat-8725	173	8	at	at	ADP
easat-8725	173	9	40,881.63	40,881.63	PRON
easat-8725	173	10	.	.	PUNCT
easat-8725	174	1	the	the	DET
easat-8725	174	2	minimum	minimum	NOUN
easat-8725	174	3	documented	document	VERB
easat-8725	174	4	fpi	fpi	PROPN
easat-8725	174	5	value	value	NOUN
easat-8725	174	6	is	be	AUX
easat-8725	174	7	31.90870	31.90870	NUM
easat-8725	174	8	.	.	PUNCT
easat-8725	175	1	the	the	DET
easat-8725	175	2	fpi	fpi	PROPN
easat-8725	175	3	values	value	NOUN
easat-8725	175	4	exhibit	exhibit	VERB
easat-8725	175	5	a	a	DET
easat-8725	175	6	dispersion	dispersion	NOUN
easat-8725	175	7	or	or	CCONJ
easat-8725	175	8	variability	variability	NOUN
easat-8725	175	9	of	of	ADP
easat-8725	175	10	11,343.32	11,343.32	NUM
easat-8725	175	11	units	unit	NOUN
easat-8725	175	12	.	.	PUNCT
easat-8725	176	1	the	the	DET
easat-8725	176	2	analysis	analysis	NOUN
easat-8725	176	3	of	of	ADP
easat-8725	176	4	the	the	DET
easat-8725	176	5	fpi	fpi	PROPN
easat-8725	176	6	skewness	skewness	NOUN
easat-8725	176	7	reveals	reveal	VERB
easat-8725	176	8	a	a	DET
easat-8725	176	9	positively	positively	ADV
easat-8725	176	10	skewed	skewed	ADJ
easat-8725	176	11	distribution	distribution	NOUN
easat-8725	176	12	,	,	PUNCT
easat-8725	176	13	indicating	indicate	VERB
easat-8725	176	14	a	a	DET
easat-8725	176	15	slight	slight	ADJ
easat-8725	176	16	rightward	rightward	NOUN
easat-8725	176	17	skew	skew	NOUN
easat-8725	176	18	.	.	PUNCT
easat-8725	177	1	the	the	DET
easat-8725	177	2	kurtosis	kurtosis	NOUN
easat-8725	177	3	value	value	NOUN
easat-8725	177	4	of	of	ADP
easat-8725	177	5	the	the	DET
easat-8725	177	6	fpi	fpi	PROPN
easat-8725	177	7	suggests	suggest	VERB
easat-8725	177	8	that	that	SCONJ
easat-8725	177	9	the	the	DET
easat-8725	177	10	distribution	distribution	NOUN
easat-8725	177	11	is	be	AUX
easat-8725	177	12	moderately	moderately	ADV
easat-8725	177	13	heavy	heavy	ADV
easat-8725	177	14	-	-	PUNCT
easat-8725	177	15	tailed	tailed	ADJ
easat-8725	177	16	.	.	PUNCT
easat-8725	178	1	the	the	DET
easat-8725	178	2	statistical	statistical	ADJ
easat-8725	178	3	analysis	analysis	NOUN
easat-8725	178	4	reveals	reveal	VERB
easat-8725	178	5	that	that	SCONJ
easat-8725	178	6	the	the	DET
easat-8725	178	7	jarque	jarque	NOUN
easat-8725	178	8	-	-	PUNCT
easat-8725	178	9	bera	bera	NOUN
easat-8725	178	10	test	test	NOUN
easat-8725	178	11	statistic	statistic	NOUN
easat-8725	178	12	for	for	ADP
easat-8725	178	13	fpi	fpi	PROPN
easat-8725	178	14	is	be	AUX
easat-8725	178	15	9.120037	9.120037	NUM
easat-8725	178	16	,	,	PUNCT
easat-8725	178	17	with	with	ADP
easat-8725	178	18	a	a	DET
easat-8725	178	19	corresponding	corresponding	ADJ
easat-8725	178	20	probability	probability	NOUN
easat-8725	178	21	of	of	ADP
easat-8725	178	22	0.010462	0.010462	NUM
easat-8725	178	23	.	.	PUNCT
easat-8725	179	1	these	these	DET
easat-8725	179	2	results	result	NOUN
easat-8725	179	3	indicate	indicate	VERB
easat-8725	179	4	that	that	SCONJ
easat-8725	179	5	the	the	DET
easat-8725	179	6	distribution	distribution	NOUN
easat-8725	179	7	of	of	ADP
easat-8725	179	8	fpi	fpi	PROPN
easat-8725	179	9	is	be	AUX
easat-8725	179	10	not	not	PART
easat-8725	179	11	entirely	entirely	ADV
easat-8725	179	12	normal	normal	ADJ
easat-8725	179	13	.	.	PUNCT
easat-8725	180	1	the	the	DET
easat-8725	180	2	mean	mean	ADJ
easat-8725	180	3	value	value	NOUN
easat-8725	180	4	of	of	ADP
easat-8725	180	5	asi	asi	NOUN
easat-8725	180	6	is	be	AUX
easat-8725	180	7	approximately	approximately	ADV
easat-8725	180	8	17,945.20	17,945.20	NUM
easat-8725	180	9	.	.	PUNCT
easat-8725	181	1	the	the	DET
easat-8725	181	2	median	median	ADJ
easat-8725	181	3	value	value	NOUN
easat-8725	181	4	of	of	ADP
easat-8725	181	5	asi	asi	NOUN
easat-8725	181	6	is	be	AUX
easat-8725	181	7	20,128.94	20,128.94	NUM
easat-8725	181	8	.	.	PUNCT
easat-8725	182	1	the	the	DET
easat-8725	182	2	maximum	maximum	ADJ
easat-8725	182	3	documented	document	VERB
easat-8725	182	4	value	value	NOUN
easat-8725	182	5	for	for	ADP
easat-8725	182	6	asi	asi	NOUN
easat-8725	182	7	stands	stand	VERB
easat-8725	182	8	at	at	ADP
easat-8725	182	9	57,990.20	57,990.20	NUM
easat-8725	182	10	.	.	PUNCT
easat-8725	183	1	the	the	DET
easat-8725	183	2	minimum	minimum	ADJ
easat-8725	183	3	documented	document	VERB
easat-8725	183	4	asi	asi	NOUN
easat-8725	183	5	measurement	measurement	NOUN
easat-8725	183	6	is	be	AUX
easat-8725	183	7	127.3000	127.3000	NUM
easat-8725	183	8	.	.	PUNCT
easat-8725	184	1	the	the	DET
easat-8725	184	2	calculated	calculate	VERB
easat-8725	184	3	value	value	NOUN
easat-8725	184	4	for	for	ADP
easat-8725	184	5	the	the	DET
easat-8725	184	6	dispersion	dispersion	NOUN
easat-8725	184	7	or	or	CCONJ
easat-8725	184	8	variability	variability	NOUN
easat-8725	184	9	in	in	ADP
easat-8725	184	10	asi	asi	NOUN
easat-8725	184	11	values	value	NOUN
easat-8725	184	12	is	be	AUX
easat-8725	184	13	15,763.97	15,763.97	NOUN
easat-8725	184	14	.	.	PUNCT
easat-8725	185	1	the	the	DET
easat-8725	185	2	analysis	analysis	NOUN
easat-8725	185	3	of	of	ADP
easat-8725	185	4	the	the	DET
easat-8725	185	5	asi	asi	PROPN
easat-8725	185	6	skewness	skewness	NOUN
easat-8725	185	7	reveals	reveal	VERB
easat-8725	185	8	a	a	DET
easat-8725	185	9	positively	positively	ADV
easat-8725	185	10	skewed	skewed	ADJ
easat-8725	185	11	distribution	distribution	NOUN
easat-8725	185	12	,	,	PUNCT
easat-8725	185	13	indicating	indicate	VERB
easat-8725	185	14	a	a	DET
easat-8725	185	15	slight	slight	ADJ
easat-8725	185	16	rightward	rightward	NOUN
easat-8725	185	17	skew	skew	NOUN
easat-8725	185	18	.	.	PUNCT
easat-8725	186	1	the	the	DET
easat-8725	186	2	kurtosis	kurtosis	NOUN
easat-8725	186	3	value	value	NOUN
easat-8725	186	4	of	of	ADP
easat-8725	186	5	the	the	DET
easat-8725	186	6	asi	asi	NOUN
easat-8725	186	7	suggests	suggest	VERB
easat-8725	186	8	that	that	SCONJ
easat-8725	186	9	the	the	DET
easat-8725	186	10	distribution	distribution	NOUN
easat-8725	186	11	is	be	AUX
easat-8725	186	12	moderately	moderately	ADV
easat-8725	186	13	leptokurtic	leptokurtic	ADJ
easat-8725	186	14	,	,	PUNCT
easat-8725	186	15	indicating	indicate	VERB
easat-8725	186	16	a	a	DET
easat-8725	186	17	heavier	heavy	ADJ
easat-8725	186	18	tail	tail	NOUN
easat-8725	186	19	than	than	ADP
easat-8725	186	20	a	a	DET
easat-8725	186	21	normal	normal	ADJ
easat-8725	186	22	distribution	distribution	NOUN
easat-8725	186	23	.	.	PUNCT
easat-8725	187	1	the	the	DET
easat-8725	187	2	asi	asi	NOUN
easat-8725	187	3	's	's	PART
easat-8725	187	4	jarque	jarque	NOUN
easat-8725	187	5	-	-	PUNCT
easat-8725	187	6	bera	bera	NOUN
easat-8725	187	7	test	test	NOUN
easat-8725	187	8	statistic	statistic	NOUN
easat-8725	187	9	is	be	AUX
easat-8725	187	10	2.275932	2.275932	NUM
easat-8725	187	11	,	,	PUNCT
easat-8725	187	12	with	with	ADP
easat-8725	187	13	a	a	DET
easat-8725	187	14	corresponding	corresponding	ADJ
easat-8725	187	15	probability	probability	NOUN
easat-8725	187	16	of	of	ADP
easat-8725	187	17	0.320470	0.320470	NUM
easat-8725	187	18	.	.	PUNCT
easat-8725	188	1	this	this	PRON
easat-8725	188	2	indicates	indicate	VERB
easat-8725	188	3	that	that	SCONJ
easat-8725	188	4	the	the	DET
easat-8725	188	5	distribution	distribution	NOUN
easat-8725	188	6	is	be	AUX
easat-8725	188	7	in	in	ADP
easat-8725	188	8	close	close	ADJ
easat-8725	188	9	proximity	proximity	NOUN
easat-8725	188	10	to	to	ADP
easat-8725	188	11	normal	normal	ADJ
easat-8725	188	12	.	.	PUNCT
easat-8725	189	1	the	the	DET
easat-8725	189	2	mean	mean	ADJ
easat-8725	189	3	value	value	NOUN
easat-8725	189	4	of	of	ADP
easat-8725	189	5	mcap	mcap	NOUN
easat-8725	189	6	is	be	AUX
easat-8725	189	7	approximately	approximately	ADV
easat-8725	189	8	8,065.158	8,065.158	NUM
easat-8725	189	9	.	.	PUNCT
easat-8725	190	1	the	the	DET
easat-8725	190	2	median	median	ADJ
easat-8725	190	3	value	value	NOUN
easat-8725	190	4	of	of	ADP
easat-8725	190	5	mcap	mcap	NOUN
easat-8725	190	6	is	be	AUX
easat-8725	190	7	1,359.300	1,359.300	NUM
easat-8725	190	8	.	.	PUNCT
easat-8725	191	1	the	the	DET
easat-8725	191	2	maximum	maximum	ADJ
easat-8725	191	3	documented	document	VERB
easat-8725	191	4	mcap	mcap	NOUN
easat-8725	191	5	value	value	NOUN
easat-8725	191	6	stands	stand	VERB
easat-8725	191	7	at	at	ADP
easat-8725	191	8	42,054.50	42,054.50	PROPN
easat-8725	191	9	.	.	PUNCT
easat-8725	192	1	the	the	DET
easat-8725	192	2	minimum	minimum	ADJ
easat-8725	192	3	recorded	record	VERB
easat-8725	192	4	value	value	NOUN
easat-8725	192	5	for	for	ADP
easat-8725	192	6	mcap	mcap	NOUN
easat-8725	192	7	is	be	AUX
easat-8725	192	8	6.600000	6.600000	NUM
easat-8725	192	9	.	.	PUNCT
easat-8725	193	1	the	the	DET
easat-8725	193	2	mcap	mcap	NOUN
easat-8725	193	3	values	value	NOUN
easat-8725	193	4	exhibit	exhibit	VERB
easat-8725	193	5	a	a	DET
easat-8725	193	6	dispersion	dispersion	NOUN
easat-8725	193	7	or	or	CCONJ
easat-8725	193	8	variability	variability	NOUN
easat-8725	193	9	of	of	ADP
easat-8725	193	10	11,089.97	11,089.97	NUM
easat-8725	193	11	.	.	PUNCT
easat-8725	194	1	the	the	DET
easat-8725	194	2	analysis	analysis	NOUN
easat-8725	194	3	of	of	ADP
easat-8725	194	4	mcap	mcap	NOUN
easat-8725	194	5	skewness	skewness	NOUN
easat-8725	194	6	reveals	reveal	VERB
easat-8725	194	7	a	a	DET
easat-8725	194	8	positively	positively	ADV
easat-8725	194	9	skewed	skewed	ADJ
easat-8725	194	10	distribution	distribution	NOUN
easat-8725	194	11	,	,	PUNCT
easat-8725	194	12	indicating	indicate	VERB
easat-8725	194	13	a	a	DET
easat-8725	194	14	slight	slight	ADJ
easat-8725	194	15	rightward	rightward	NOUN
easat-8725	194	16	skew	skew	NOUN
easat-8725	194	17	.	.	PUNCT
easat-8725	195	1	the	the	DET
easat-8725	195	2	kurtosis	kurtosis	NOUN
easat-8725	195	3	value	value	NOUN
easat-8725	195	4	of	of	ADP
easat-8725	195	5	mcap	mcap	NOUN
easat-8725	195	6	suggests	suggest	VERB
easat-8725	195	7	that	that	SCONJ
easat-8725	195	8	the	the	DET
easat-8725	195	9	distribution	distribution	NOUN
easat-8725	195	10	has	have	VERB
easat-8725	195	11	a	a	DET
easat-8725	195	12	heavier	heavy	ADJ
easat-8725	195	13	tail	tail	NOUN
easat-8725	195	14	than	than	ADP
easat-8725	195	15	the	the	DET
easat-8725	195	16	normal	normal	ADJ
easat-8725	195	17	distribution	distribution	NOUN
easat-8725	195	18	.	.	PUNCT
easat-8725	196	1	the	the	DET
easat-8725	196	2	statistical	statistical	ADJ
easat-8725	196	3	analysis	analysis	NOUN
easat-8725	196	4	reveals	reveal	VERB
easat-8725	196	5	that	that	SCONJ
easat-8725	196	6	the	the	DET
easat-8725	196	7	mcap	mcap	NOUN
easat-8725	196	8	's	's	PART
easat-8725	196	9	jarque	jarque	NOUN
easat-8725	196	10	-	-	PUNCT
easat-8725	196	11	bera	bera	NOUN
easat-8725	196	12	test	test	NOUN
easat-8725	196	13	statistic	statistic	NOUN
easat-8725	196	14	is	be	AUX
easat-8725	196	15	18.14565	18.14565	NUM
easat-8725	196	16	,	,	PUNCT
easat-8725	196	17	with	with	ADP
easat-8725	196	18	a	a	DET
easat-8725	196	19	corresponding	corresponding	ADJ
easat-8725	196	20	probability	probability	NOUN
easat-8725	196	21	of	of	ADP
easat-8725	196	22	0.000115	0.000115	NUM
easat-8725	196	23	.	.	PUNCT
easat-8725	197	1	this	this	DET
easat-8725	197	2	outcome	outcome	NOUN
easat-8725	197	3	indicates	indicate	VERB
easat-8725	197	4	a	a	DET
easat-8725	197	5	significant	significant	ADJ
easat-8725	197	6	deviation	deviation	NOUN
easat-8725	197	7	from	from	ADP
easat-8725	197	8	the	the	DET
easat-8725	197	9	normal	normal	ADJ
easat-8725	197	10	distribution	distribution	NOUN
easat-8725	197	11	.	.	PUNCT
easat-8725	198	1	the	the	DET
easat-8725	198	2	mean	mean	ADJ
easat-8725	198	3	volume	volume	NOUN
easat-8725	198	4	of	of	ADP
easat-8725	198	5	trade	trade	NOUN
easat-8725	198	6	(	(	PUNCT
easat-8725	198	7	vot	vot	PROPN
easat-8725	198	8	)	)	PUNCT
easat-8725	198	9	is	be	AUX
easat-8725	198	10	estimated	estimate	VERB
easat-8725	198	11	to	to	PART
easat-8725	198	12	be	be	AUX
easat-8725	198	13	around	around	ADP
easat-8725	198	14	820,150.3	820,150.3	NUM
easat-8725	198	15	.	.	PUNCT
easat-8725	199	1	the	the	DET
easat-8725	199	2	median	median	ADJ
easat-8725	199	3	value	value	NOUN
easat-8725	199	4	of	of	ADP
easat-8725	199	5	voice	voice	NOUN
easat-8725	199	6	onset	onset	VERB
easat-8725	199	7	time	time	NOUN
easat-8725	199	8	(	(	PUNCT
easat-8725	199	9	vot	vot	NOUN
easat-8725	199	10	)	)	PUNCT
easat-8725	199	11	is	be	AUX
easat-8725	199	12	621,717.0	621,717.0	NUM
easat-8725	199	13	.	.	PUNCT
easat-8725	200	1	the	the	DET
easat-8725	200	2	maximum	maximum	ADJ
easat-8725	200	3	documented	document	VERB
easat-8725	200	4	vot	vot	NOUN
easat-8725	200	5	measurement	measurement	NOUN
easat-8725	200	6	is	be	AUX
easat-8725	200	7	3,535,631	3,535,631	NUM
easat-8725	200	8	.	.	PUNCT
easat-8725	201	1	the	the	DET
easat-8725	201	2	minimum	minimum	ADJ
easat-8725	201	3	recorded	record	VERB
easat-8725	201	4	value	value	NOUN
easat-8725	201	5	for	for	ADP
easat-8725	201	6	(	(	PUNCT
easat-8725	201	7	vot	vot	NOUN
easat-8725	201	8	)	)	PUNCT
easat-8725	201	9	is	be	AUX
easat-8725	201	10	20,525.00	20,525.00	NUM
easat-8725	201	11	.	.	PUNCT
easat-8725	202	1	the	the	DET
easat-8725	202	2	calculated	calculate	VERB
easat-8725	202	3	value	value	NOUN
easat-8725	202	4	for	for	ADP
easat-8725	202	5	the	the	DET
easat-8725	202	6	dispersion	dispersion	NOUN
easat-8725	202	7	or	or	CCONJ
easat-8725	202	8	variability	variability	NOUN
easat-8725	202	9	of	of	ADP
easat-8725	202	10	(	(	PUNCT
easat-8725	202	11	vot	vot	NOUN
easat-8725	202	12	)	)	PUNCT
easat-8725	202	13	measurements	measurement	NOUN
easat-8725	202	14	is	be	AUX
easat-8725	202	15	929,046.1	929,046.1	NUM
easat-8725	202	16	.	.	PUNCT
easat-8725	203	1	the	the	DET
easat-8725	203	2	analysis	analysis	NOUN
easat-8725	203	3	of	of	ADP
easat-8725	203	4	the	the	DET
easat-8725	203	5	(	(	PUNCT
easat-8725	203	6	vot	vot	PROPN
easat-8725	203	7	)	)	PUNCT
easat-8725	203	8	skewness	skewness	NOUN
easat-8725	203	9	reveals	reveal	VERB
easat-8725	203	10	a	a	DET
easat-8725	203	11	positively	positively	ADV
easat-8725	203	12	skewed	skewed	ADJ
easat-8725	203	13	distribution	distribution	NOUN
easat-8725	203	14	,	,	PUNCT
easat-8725	203	15	indicating	indicate	VERB
easat-8725	203	16	a	a	DET
easat-8725	203	17	slight	slight	ADJ
easat-8725	203	18	rightward	rightward	NOUN
easat-8725	203	19	skew	skew	NOUN
easat-8725	203	20	.	.	PUNCT
easat-8725	204	1	the	the	DET
easat-8725	204	2	statistical	statistical	ADJ
easat-8725	204	3	measure	measure	NOUN
easat-8725	204	4	of	of	ADP
easat-8725	204	5	kurtosis	kurtosis	NOUN
easat-8725	204	6	applied	apply	VERB
easat-8725	204	7	to	to	ADP
easat-8725	204	8	(	(	PUNCT
easat-8725	204	9	vot	vot	PROPN
easat-8725	204	10	)	)	PUNCT
easat-8725	204	11	suggests	suggest	VERB
easat-8725	204	12	the	the	DET
easat-8725	204	13	presence	presence	NOUN
easat-8725	204	14	of	of	ADP
easat-8725	204	15	a	a	DET
easat-8725	204	16	distribution	distribution	NOUN
easat-8725	204	17	with	with	ADP
easat-8725	204	18	heavier	heavy	ADJ
easat-8725	204	19	tails	tail	NOUN
easat-8725	204	20	than	than	ADP
easat-8725	204	21	a	a	DET
easat-8725	204	22	normal	normal	ADJ
easat-8725	204	23	distribution	distribution	NOUN
easat-8725	204	24	.	.	PUNCT
easat-8725	205	1	the	the	DET
easat-8725	205	2	statistical	statistical	ADJ
easat-8725	205	3	analysis	analysis	NOUN
easat-8725	205	4	reveals	reveal	VERB
easat-8725	205	5	that	that	SCONJ
easat-8725	205	6	the	the	DET
easat-8725	205	7	jarque	jarque	NOUN
easat-8725	205	8	-	-	PUNCT
easat-8725	205	9	bera	bera	NOUN
easat-8725	205	10	test	test	NOUN
easat-8725	205	11	statistic	statistic	NOUN
easat-8725	205	12	for	for	ADP
easat-8725	205	13	vot	vot	NOUN
easat-8725	205	14	is	be	AUX
easat-8725	205	15	13.61231	13.61231	NUM
easat-8725	205	16	,	,	PUNCT
easat-8725	205	17	with	with	ADP
easat-8725	205	18	a	a	DET
easat-8725	205	19	corresponding	corresponding	ADJ
easat-8725	205	20	probability	probability	NOUN
easat-8725	205	21	of	of	ADP
easat-8725	205	22	0.001107	0.001107	NUM
easat-8725	205	23	.	.	PUNCT
easat-8725	206	1	these	these	DET
easat-8725	206	2	results	result	NOUN
easat-8725	206	3	indicate	indicate	VERB
easat-8725	206	4	a	a	DET
easat-8725	206	5	significant	significant	ADJ
easat-8725	206	6	deviation	deviation	NOUN
easat-8725	206	7	from	from	ADP
easat-8725	206	8	normal	normal	ADJ
easat-8725	206	9	distribution	distribution	NOUN
easat-8725	206	10	.	.	PUNCT
easat-8725	207	1	the	the	DET
easat-8725	207	2	mean	mean	ADJ
easat-8725	207	3	value	value	NOUN
easat-8725	207	4	of	of	ADP
easat-8725	207	5	vst	vst	NOUN
easat-8725	207	6	is	be	AUX
easat-8725	207	7	approximately	approximately	ADV
easat-8725	207	8	472.0081	472.0081	NUM
easat-8725	207	9	.	.	PUNCT
easat-8725	208	1	the	the	DET
easat-8725	208	2	median	median	NOUN
easat-8725	208	3	of	of	ADP
easat-8725	208	4	vst	vst	PROPN
easat-8725	208	5	is	be	AUX
easat-8725	208	6	120.4000	120.4000	NUM
easat-8725	208	7	.	.	PUNCT
easat-8725	209	1	the	the	DET
easat-8725	209	2	maximum	maximum	ADJ
easat-8725	209	3	documented	document	VERB
easat-8725	209	4	vst	vst	PROPN
easat-8725	209	5	measurement	measurement	NOUN
easat-8725	209	6	is	be	AUX
easat-8725	209	7	2,350.880	2,350.880	NUM
easat-8725	209	8	.	.	PUNCT
easat-8725	210	1	the	the	DET
easat-8725	210	2	minimum	minimum	ADJ
easat-8725	210	3	recorded	record	VERB
easat-8725	210	4	value	value	NOUN
easat-8725	210	5	for	for	ADP
easat-8725	210	6	vst	vst	NOUN
easat-8725	210	7	is	be	AUX
easat-8725	210	8	0.230000	0.230000	NUM
easat-8725	210	9	.	.	PUNCT
easat-8725	211	1	the	the	DET
easat-8725	211	2	774	774	NUM
easat-8725	211	3	edelweiss	edelweiss	PROPN
easat-8725	211	4	applied	apply	VERB
easat-8725	211	5	science	science	NOUN
easat-8725	211	6	and	and	CCONJ
easat-8725	211	7	technology	technology	NOUN
easat-8725	211	8	issn	issn	PROPN
easat-8725	211	9	:	:	PUNCT
easat-8725	211	10	2576	2576	NUM
easat-8725	211	11	-	-	SYM
easat-8725	211	12	8484	8484	NUM
easat-8725	211	13	vol	vol	NOUN
easat-8725	211	14	.	.	PROPN
easat-8725	212	1	9	9	NUM
easat-8725	212	2	,	,	PUNCT
easat-8725	212	3	no	no	INTJ
easat-8725	212	4	.	.	NOUN
easat-8725	212	5	7	7	NUM
easat-8725	212	6	:	:	PUNCT
easat-8725	212	7	767	767	NUM
easat-8725	212	8	-	-	SYM
easat-8725	212	9	779	779	NUM
easat-8725	212	10	,	,	PUNCT
easat-8725	212	11	2025	2025	NUM
easat-8725	212	12	doi	doi	NOUN
easat-8725	212	13	:	:	PUNCT
easat-8725	212	14	10.55214/25768484.v9i7.8725	10.55214/25768484.v9i7.8725	NUM
easat-8725	212	15	©	©	PROPN
easat-8725	212	16	2025	2025	NUM
easat-8725	212	17	by	by	ADP
easat-8725	212	18	the	the	DET
easat-8725	212	19	authors	author	NOUN
easat-8725	212	20	;	;	PUNCT
easat-8725	212	21	licensee	licensee	PROPN
easat-8725	212	22	learning	learning	NOUN
easat-8725	212	23	gate	gate	PROPN
easat-8725	212	24	vst	vst	PROPN
easat-8725	212	25	values	value	NOUN
easat-8725	212	26	exhibit	exhibit	VERB
easat-8725	212	27	a	a	DET
easat-8725	212	28	dispersion	dispersion	NOUN
easat-8725	212	29	or	or	CCONJ
easat-8725	212	30	variability	variability	NOUN
easat-8725	212	31	that	that	PRON
easat-8725	212	32	is	be	AUX
easat-8725	212	33	quantified	quantify	VERB
easat-8725	212	34	by	by	ADP
easat-8725	212	35	a	a	DET
easat-8725	212	36	measure	measure	NOUN
easat-8725	212	37	of	of	ADP
easat-8725	212	38	588.0347	588.0347	NUM
easat-8725	212	39	.	.	PUNCT
easat-8725	213	1	the	the	DET
easat-8725	213	2	vst	vst	PROPN
easat-8725	213	3	's	's	PART
easat-8725	213	4	skewness	skewness	NOUN
easat-8725	213	5	value	value	NOUN
easat-8725	213	6	denotes	denote	VERB
easat-8725	213	7	a	a	DET
easat-8725	213	8	positive	positive	ADJ
easat-8725	213	9	skewness	skewness	NOUN
easat-8725	213	10	,	,	PUNCT
easat-8725	213	11	indicating	indicate	VERB
easat-8725	213	12	that	that	SCONJ
easat-8725	213	13	the	the	DET
easat-8725	213	14	distribution	distribution	NOUN
easat-8725	213	15	is	be	AUX
easat-8725	213	16	marginally	marginally	ADV
easat-8725	213	17	skewed	skewed	ADJ
easat-8725	213	18	towards	towards	ADP
easat-8725	213	19	the	the	DET
easat-8725	213	20	right	right	NOUN
easat-8725	213	21	.	.	PUNCT
easat-8725	214	1	the	the	DET
easat-8725	214	2	kurtosis	kurtosis	NOUN
easat-8725	214	3	value	value	NOUN
easat-8725	214	4	of	of	ADP
easat-8725	214	5	the	the	DET
easat-8725	214	6	vst	vst	NOUN
easat-8725	214	7	suggests	suggest	VERB
easat-8725	214	8	the	the	DET
easat-8725	214	9	presence	presence	NOUN
easat-8725	214	10	of	of	ADP
easat-8725	214	11	a	a	DET
easat-8725	214	12	distribution	distribution	NOUN
easat-8725	214	13	with	with	ADP
easat-8725	214	14	heavy	heavy	ADJ
easat-8725	214	15	tails	tail	NOUN
easat-8725	214	16	.	.	PUNCT
easat-8725	215	1	the	the	DET
easat-8725	215	2	statistical	statistical	ADJ
easat-8725	215	3	analysis	analysis	NOUN
easat-8725	215	4	reveals	reveal	VERB
easat-8725	215	5	that	that	SCONJ
easat-8725	215	6	the	the	DET
easat-8725	215	7	jarque	jarque	NOUN
easat-8725	215	8	-	-	PUNCT
easat-8725	215	9	bera	bera	NOUN
easat-8725	215	10	test	test	NOUN
easat-8725	215	11	statistic	statistic	NOUN
easat-8725	215	12	for	for	ADP
easat-8725	215	13	vst	vst	PROPN
easat-8725	215	14	is	be	AUX
easat-8725	215	15	10.58272	10.58272	NUM
easat-8725	215	16	,	,	PUNCT
easat-8725	215	17	with	with	ADP
easat-8725	215	18	a	a	DET
easat-8725	215	19	corresponding	corresponding	ADJ
easat-8725	215	20	probability	probability	NOUN
easat-8725	215	21	of	of	ADP
easat-8725	215	22	0.005035	0.005035	NUM
easat-8725	215	23	.	.	PUNCT
easat-8725	216	1	these	these	DET
easat-8725	216	2	findings	finding	NOUN
easat-8725	216	3	indicate	indicate	VERB
easat-8725	216	4	a	a	DET
easat-8725	216	5	significant	significant	ADJ
easat-8725	216	6	deviation	deviation	NOUN
easat-8725	216	7	from	from	ADP
easat-8725	216	8	normal	normal	ADJ
easat-8725	216	9	distribution	distribution	NOUN
easat-8725	216	10	.	.	PUNCT
easat-8725	217	1	the	the	DET
easat-8725	217	2	mean	mean	ADJ
easat-8725	217	3	value	value	NOUN
easat-8725	217	4	of	of	ADP
easat-8725	217	5	the	the	DET
easat-8725	217	6	ifr	ifr	NOUN
easat-8725	217	7	is	be	AUX
easat-8725	217	8	estimated	estimate	VERB
easat-8725	217	9	to	to	PART
easat-8725	217	10	be	be	AUX
easat-8725	217	11	approximately	approximately	ADV
easat-8725	217	12	18.09784	18.09784	NUM
easat-8725	217	13	.	.	PUNCT
easat-8725	218	1	the	the	DET
easat-8725	218	2	median	median	NOUN
easat-8725	218	3	of	of	ADP
easat-8725	218	4	the	the	DET
easat-8725	218	5	infection	infection	NOUN
easat-8725	218	6	fatality	fatality	NOUN
easat-8725	218	7	rate	rate	NOUN
easat-8725	218	8	(	(	PUNCT
easat-8725	218	9	ifr	ifr	PROPN
easat-8725	218	10	)	)	PUNCT
easat-8725	218	11	is	be	AUX
easat-8725	218	12	17.58562	17.58562	NUM
easat-8725	218	13	.	.	PUNCT
easat-8725	219	1	the	the	DET
easat-8725	219	2	maximum	maximum	ADJ
easat-8725	219	3	documented	document	VERB
easat-8725	219	4	value	value	NOUN
easat-8725	219	5	for	for	ADP
easat-8725	219	6	the	the	DET
easat-8725	219	7	(	(	PUNCT
easat-8725	219	8	ifr	ifr	PROPN
easat-8725	219	9	)	)	PUNCT
easat-8725	219	10	is	be	AUX
easat-8725	219	11	29.80000	29.80000	NUM
easat-8725	219	12	.	.	PUNCT
easat-8725	220	1	the	the	DET
easat-8725	220	2	minimum	minimum	ADJ
easat-8725	220	3	documented	document	VERB
easat-8725	220	4	value	value	NOUN
easat-8725	220	5	for	for	ADP
easat-8725	220	6	the	the	DET
easat-8725	220	7	(	(	PUNCT
easat-8725	220	8	ifr	ifr	PROPN
easat-8725	220	9	)	)	PUNCT
easat-8725	220	10	is	be	AUX
easat-8725	220	11	9.670000	9.670000	NUM
easat-8725	220	12	.	.	PUNCT
easat-8725	221	1	the	the	DET
easat-8725	221	2	ifr	ifr	PROPN
easat-8725	221	3	values	value	NOUN
easat-8725	221	4	exhibit	exhibit	VERB
easat-8725	221	5	a	a	DET
easat-8725	221	6	dispersion	dispersion	NOUN
easat-8725	221	7	or	or	CCONJ
easat-8725	221	8	variability	variability	NOUN
easat-8725	221	9	measure	measure	NOUN
easat-8725	221	10	of	of	ADP
easat-8725	221	11	4.126629	4.126629	NUM
easat-8725	221	12	.	.	PUNCT
easat-8725	222	1	the	the	DET
easat-8725	222	2	analysis	analysis	NOUN
easat-8725	222	3	of	of	ADP
easat-8725	222	4	the	the	DET
easat-8725	222	5	ifr	ifr	PROPN
easat-8725	222	6	skewness	skewness	NOUN
easat-8725	222	7	reveals	reveal	VERB
easat-8725	222	8	a	a	DET
easat-8725	222	9	positively	positively	ADV
easat-8725	222	10	skewed	skewed	ADJ
easat-8725	222	11	distribution	distribution	NOUN
easat-8725	222	12	,	,	PUNCT
easat-8725	222	13	indicating	indicate	VERB
easat-8725	222	14	a	a	DET
easat-8725	222	15	slight	slight	ADJ
easat-8725	222	16	rightward	rightward	NOUN
easat-8725	222	17	skew	skew	NOUN
easat-8725	222	18	.	.	PUNCT
easat-8725	223	1	the	the	DET
easat-8725	223	2	kurtosis	kurtosis	NOUN
easat-8725	223	3	value	value	NOUN
easat-8725	223	4	of	of	ADP
easat-8725	223	5	the	the	DET
easat-8725	223	6	ifr	ifr	NOUN
easat-8725	223	7	suggests	suggest	VERB
easat-8725	223	8	that	that	SCONJ
easat-8725	223	9	the	the	DET
easat-8725	223	10	distribution	distribution	NOUN
easat-8725	223	11	is	be	AUX
easat-8725	223	12	characterised	characterise	VERB
easat-8725	223	13	by	by	ADP
easat-8725	223	14	heavy	heavy	ADJ
easat-8725	223	15	tails	tail	NOUN
easat-8725	223	16	.	.	PUNCT
easat-8725	224	1	the	the	DET
easat-8725	224	2	statistical	statistical	ADJ
easat-8725	224	3	analysis	analysis	NOUN
easat-8725	224	4	reveals	reveal	VERB
easat-8725	224	5	that	that	SCONJ
easat-8725	224	6	the	the	DET
easat-8725	224	7	jarque	jarque	NOUN
easat-8725	224	8	-	-	PUNCT
easat-8725	224	9	bera	bera	NOUN
easat-8725	224	10	test	test	NOUN
easat-8725	224	11	statistic	statistic	NOUN
easat-8725	224	12	for	for	ADP
easat-8725	224	13	ifr	ifr	PROPN
easat-8725	224	14	is	be	AUX
easat-8725	224	15	3.841723	3.841723	NUM
easat-8725	224	16	,	,	PUNCT
easat-8725	224	17	with	with	ADP
easat-8725	224	18	a	a	DET
easat-8725	224	19	corresponding	corresponding	ADJ
easat-8725	224	20	probability	probability	NOUN
easat-8725	224	21	of	of	ADP
easat-8725	224	22	0.146481	0.146481	NUM
easat-8725	224	23	.	.	PUNCT
easat-8725	225	1	this	this	PRON
easat-8725	225	2	indicates	indicate	VERB
easat-8725	225	3	that	that	SCONJ
easat-8725	225	4	the	the	DET
easat-8725	225	5	distribution	distribution	NOUN
easat-8725	225	6	is	be	AUX
easat-8725	225	7	in	in	ADP
easat-8725	225	8	close	close	ADJ
easat-8725	225	9	proximity	proximity	NOUN
easat-8725	225	10	to	to	ADP
easat-8725	225	11	the	the	DET
easat-8725	225	12	normal	normal	ADJ
easat-8725	225	13	distribution	distribution	NOUN
easat-8725	225	14	.	.	PUNCT
easat-8725	226	1	the	the	DET
easat-8725	226	2	mean	mean	ADJ
easat-8725	226	3	value	value	NOUN
easat-8725	226	4	of	of	ADP
easat-8725	226	5	exr	exr	PROPN
easat-8725	226	6	is	be	AUX
easat-8725	226	7	approximately	approximately	ADV
easat-8725	226	8	119.8137	119.8137	NUM
easat-8725	226	9	.	.	PUNCT
easat-8725	227	1	the	the	DET
easat-8725	227	2	median	median	NOUN
easat-8725	227	3	of	of	ADP
easat-8725	227	4	the	the	DET
easat-8725	227	5	exr	exr	PROPN
easat-8725	227	6	dataset	dataset	NOUN
easat-8725	227	7	is	be	AUX
easat-8725	227	8	120.9702	120.9702	NUM
easat-8725	227	9	.	.	PUNCT
easat-8725	228	1	the	the	DET
easat-8725	228	2	maximum	maximum	ADJ
easat-8725	228	3	documented	document	VERB
easat-8725	228	4	value	value	NOUN
easat-8725	228	5	for	for	ADP
easat-8725	228	6	exr	exr	PROPN
easat-8725	228	7	stands	stand	NOUN
easat-8725	228	8	at	at	ADP
easat-8725	228	9	399.9636	399.9636	NUM
easat-8725	228	10	.	.	PUNCT
easat-8725	229	1	the	the	DET
easat-8725	229	2	minimum	minimum	NOUN
easat-8725	229	3	observed	observe	VERB
easat-8725	229	4	exr	exr	NOUN
easat-8725	229	5	value	value	NOUN
easat-8725	229	6	is	be	AUX
easat-8725	229	7	1.905330	1.905330	NUM
easat-8725	229	8	.	.	PUNCT
easat-8725	230	1	the	the	DET
easat-8725	230	2	exr	exr	PROPN
easat-8725	230	3	values	value	NOUN
easat-8725	230	4	exhibit	exhibit	VERB
easat-8725	230	5	a	a	DET
easat-8725	230	6	dispersion	dispersion	NOUN
easat-8725	230	7	or	or	CCONJ
easat-8725	230	8	variability	variability	NOUN
easat-8725	230	9	measure	measure	NOUN
easat-8725	230	10	of	of	ADP
easat-8725	230	11	109.5171	109.5171	NUM
easat-8725	230	12	.	.	PUNCT
easat-8725	231	1	the	the	DET
easat-8725	231	2	statistical	statistical	ADJ
easat-8725	231	3	measure	measure	NOUN
easat-8725	231	4	of	of	ADP
easat-8725	231	5	skewness	skewness	NOUN
easat-8725	231	6	for	for	ADP
easat-8725	231	7	the	the	DET
easat-8725	231	8	exr	exr	PROPN
easat-8725	231	9	reveals	reveal	VERB
easat-8725	231	10	a	a	DET
easat-8725	231	11	positive	positive	ADJ
easat-8725	231	12	value	value	NOUN
easat-8725	231	13	,	,	PUNCT
easat-8725	231	14	indicating	indicate	VERB
easat-8725	231	15	a	a	DET
easat-8725	231	16	rightward	rightward	ADJ
easat-8725	231	17	skew	skew	NOUN
easat-8725	231	18	in	in	ADP
easat-8725	231	19	the	the	DET
easat-8725	231	20	distribution	distribution	NOUN
easat-8725	231	21	.	.	PUNCT
easat-8725	232	1	the	the	DET
easat-8725	232	2	kurtosis	kurtosis	NOUN
easat-8725	232	3	value	value	NOUN
easat-8725	232	4	of	of	ADP
easat-8725	232	5	the	the	DET
easat-8725	232	6	exr	exr	PROPN
easat-8725	232	7	suggests	suggest	VERB
easat-8725	232	8	that	that	SCONJ
easat-8725	232	9	the	the	DET
easat-8725	232	10	distribution	distribution	NOUN
easat-8725	232	11	has	have	VERB
easat-8725	232	12	a	a	DET
easat-8725	232	13	heavier	heavy	ADJ
easat-8725	232	14	tail	tail	NOUN
easat-8725	232	15	compared	compare	VERB
easat-8725	232	16	to	to	ADP
easat-8725	232	17	a	a	DET
easat-8725	232	18	normal	normal	ADJ
easat-8725	232	19	distribution	distribution	NOUN
easat-8725	232	20	.	.	PUNCT
easat-8725	233	1	the	the	DET
easat-8725	233	2	statistical	statistical	ADJ
easat-8725	233	3	analysis	analysis	NOUN
easat-8725	233	4	reveals	reveal	VERB
easat-8725	233	5	that	that	SCONJ
easat-8725	233	6	the	the	DET
easat-8725	233	7	jarque	jarque	NOUN
easat-8725	233	8	-	-	PUNCT
easat-8725	233	9	bera	bera	NOUN
easat-8725	233	10	test	test	NOUN
easat-8725	233	11	statistic	statistic	NOUN
easat-8725	233	12	for	for	ADP
easat-8725	233	13	exr	exr	PROPN
easat-8725	233	14	is	be	AUX
easat-8725	233	15	4.741870	4.741870	NUM
easat-8725	233	16	,	,	PUNCT
easat-8725	233	17	with	with	ADP
easat-8725	233	18	a	a	DET
easat-8725	233	19	corresponding	corresponding	ADJ
easat-8725	233	20	probability	probability	NOUN
easat-8725	233	21	of	of	ADP
easat-8725	233	22	0.093393	0.093393	NUM
easat-8725	233	23	.	.	PUNCT
easat-8725	234	1	these	these	DET
easat-8725	234	2	results	result	NOUN
easat-8725	234	3	indicate	indicate	VERB
easat-8725	234	4	that	that	SCONJ
easat-8725	234	5	the	the	DET
easat-8725	234	6	distribution	distribution	NOUN
easat-8725	234	7	of	of	ADP
easat-8725	234	8	exr	exr	PROPN
easat-8725	234	9	is	be	AUX
easat-8725	234	10	in	in	ADP
easat-8725	234	11	reasonable	reasonable	ADJ
easat-8725	234	12	proximity	proximity	NOUN
easat-8725	234	13	to	to	ADP
easat-8725	234	14	a	a	DET
easat-8725	234	15	normal	normal	ADJ
easat-8725	234	16	distribution	distribution	NOUN
easat-8725	234	17	.	.	PUNCT
easat-8725	235	1	4.1	4.1	NUM
easat-8725	235	2	.	.	PUNCT
easat-8725	235	3	unit	unit	NOUN
easat-8725	235	4	root	root	PROPN
easat-8725	235	5	test	test	NOUN
easat-8725	235	6	table	table	NOUN
easat-8725	235	7	2	2	NUM
easat-8725	235	8	shows	show	VERB
easat-8725	235	9	the	the	DET
easat-8725	235	10	result	result	NOUN
easat-8725	235	11	of	of	ADP
easat-8725	235	12	the	the	DET
easat-8725	235	13	test	test	NOUN
easat-8725	235	14	for	for	ADP
easat-8725	235	15	the	the	DET
easat-8725	235	16	adf	adf	PROPN
easat-8725	235	17	unit	unit	NOUN
easat-8725	235	18	root	root	PROPN
easat-8725	235	19	test	test	NOUN
easat-8725	235	20	.	.	PUNCT
easat-8725	236	1	table	table	NOUN
easat-8725	236	2	2	2	NUM
easat-8725	236	3	.	.	PUNCT
easat-8725	236	4	augmented	augment	VERB
easat-8725	236	5	dickey	dickey	PROPN
easat-8725	236	6	-	-	PUNCT
easat-8725	236	7	fuller	full	ADJ
easat-8725	236	8	unit	unit	NOUN
easat-8725	236	9	root	root	NOUN
easat-8725	236	10	stationarity	stationarity	NOUN
easat-8725	236	11	test	test	NOUN
easat-8725	236	12	.	.	PUNCT
easat-8725	237	1	variable	variable	ADJ
easat-8725	237	2	test	test	NOUN
easat-8725	237	3	at	at	ADP
easat-8725	237	4	levels	level	NOUN
easat-8725	237	5	test	test	VERB
easat-8725	237	6	at	at	ADP
easat-8725	237	7	1st	1st	ADJ
easat-8725	237	8	difference	difference	NOUN
easat-8725	237	9	inference	inference	NOUN
easat-8725	237	10	adf	adf	PROPN
easat-8725	237	11	statistic	statistic	PROPN
easat-8725	237	12	t	t	PROPN
easat-8725	237	13	-	-	PUNCT
easat-8725	237	14	statistic	statistic	NOUN
easat-8725	237	15	prob	prob	NOUN
easat-8725	237	16	.	.	PUNCT
easat-8725	237	17	*	*	PUNCT
easat-8725	238	1	adf	adf	PROPN
easat-8725	238	2	statistic	statistic	PROPN
easat-8725	238	3	t	t	PROPN
easat-8725	238	4	-	-	PUNCT
easat-8725	238	5	statistic	statistic	NOUN
easat-8725	238	6	prob	prob	NOUN
easat-8725	238	7	.	.	PUNCT
easat-8725	238	8	*	*	PUNCT
easat-8725	239	1	fpi	fpi	PROPN
easat-8725	239	2	-2.052179	-2.052179	PROPN
easat-8725	239	3	-2.945842	-2.945842	NOUN
easat-8725	239	4	0.2644	0.2644	NUM
easat-8725	239	5	-4.850754	-4.850754	NOUN
easat-8725	239	6	-2.945842	-2.945842	NOUN
easat-8725	239	7	0.0004	0.0004	NUM
easat-8725	239	8	i(1	i(1	NOUN
easat-8725	239	9	)	)	PUNCT
easat-8725	239	10	mcap	mcap	NOUN
easat-8725	239	11	-0.783378	-0.783378	PROPN
easat-8725	239	12	-2.941145	-2.941145	NOUN
easat-8725	239	13	0.8124	0.8124	NUM
easat-8725	239	14	-4.188023	-4.188023	NOUN
easat-8725	239	15	-2.943427	-2.943427	NOUN
easat-8725	239	16	0.0022	0.0022	NUM
easat-8725	239	17	i(1	i(1	PROPN
easat-8725	239	18	)	)	PUNCT
easat-8725	239	19	asi	asi	NOUN
easat-8725	239	20	-1.469541	-1.469541	PROPN
easat-8725	239	21	-2.941145	-2.941145	NOUN
easat-8725	239	22	0.5380	0.5380	NUM
easat-8725	239	23	-4.833307	-4.833307	NOUN
easat-8725	239	24	-2.943427	-2.943427	NOUN
easat-8725	239	25	0.0004	0.0004	NUM
easat-8725	239	26	i(1	i(1	NOUN
easat-8725	239	27	)	)	PUNCT
easat-8725	239	28	vst	vst	VERB
easat-8725	239	29	-0.924438	-0.924438	NOUN
easat-8725	239	30	-2.943427	-2.943427	PROPN
easat-8725	239	31	0.7692	0.7692	NUM
easat-8725	239	32	-3.670680	-3.670680	NOUN
easat-8725	239	33	-2.943427	-2.943427	NOUN
easat-8725	239	34	0.0088	0.0088	NUM
easat-8725	239	35	i(1	i(1	PROPN
easat-8725	239	36	)	)	PUNCT
easat-8725	239	37	vot	vot	PROPN
easat-8725	239	38	-0.627951	-0.627951	NOUN
easat-8725	239	39	-2.954021	-2.954021	PROPN
easat-8725	239	40	0.8509	0.8509	NUM
easat-8725	239	41	-6.464131	-6.464131	PROPN
easat-8725	239	42	-2.943427	-2.943427	NOUN
easat-8725	239	43	0.0000	0.0000	NUM
easat-8725	240	1	i(1	i(1	PROPN
easat-8725	240	2	)	)	PUNCT
easat-8725	240	3	ifr	ifr	PROPN
easat-8725	240	4	-2.915636	-2.915636	PROPN
easat-8725	240	5	-2.941145	-2.941145	PROPN
easat-8725	240	6	0.0529	0.0529	NUM
easat-8725	240	7	-5.672642	-5.672642	PROPN
easat-8725	240	8	-2.943427	-2.943427	NOUN
easat-8725	240	9	0.0000	0.0000	NUM
easat-8725	241	1	i(1	i(1	NOUN
easat-8725	241	2	)	)	PUNCT
easat-8725	241	3	exr	exr	PROPN
easat-8725	241	4	-0.508733	-0.508733	ADJ
easat-8725	241	5	-2.948404	-2.948404	NOUN
easat-8725	241	6	0.8777	0.8777	NUM
easat-8725	241	7	-4.377405	-4.377405	NOUN
easat-8725	241	8	-2.948404	-2.948404	NOUN
easat-8725	241	9	0.0014	0.0014	NUM
easat-8725	241	10	i(1	i(1	NOUN
easat-8725	241	11	)	)	PUNCT
easat-8725	241	12	the	the	DET
easat-8725	241	13	adf	adf	PROPN
easat-8725	241	14	test	test	NOUN
easat-8725	241	15	shows	show	VERB
easat-8725	241	16	that	that	SCONJ
easat-8725	241	17	all	all	DET
easat-8725	241	18	the	the	DET
easat-8725	241	19	variables	variable	NOUN
easat-8725	241	20	are	be	AUX
easat-8725	241	21	not	not	PART
easat-8725	241	22	stationary	stationary	ADJ
easat-8725	241	23	at	at	ADP
easat-8725	241	24	levels	level	NOUN
easat-8725	241	25	,	,	PUNCT
easat-8725	241	26	as	as	SCONJ
easat-8725	241	27	the	the	DET
easat-8725	241	28	absolute	absolute	ADJ
easat-8725	241	29	value	value	NOUN
easat-8725	241	30	of	of	ADP
easat-8725	241	31	their	their	PRON
easat-8725	241	32	respective	respective	ADJ
easat-8725	241	33	t	t	PROPN
easat-8725	241	34	-	-	PUNCT
easat-8725	241	35	statistics	statistic	NOUN
easat-8725	241	36	are	be	AUX
easat-8725	241	37	less	less	ADJ
easat-8725	241	38	than	than	ADP
easat-8725	241	39	the	the	DET
easat-8725	241	40	absolute	absolute	ADJ
easat-8725	241	41	95	95	NUM
easat-8725	241	42	%	%	NOUN
easat-8725	241	43	critical	critical	ADJ
easat-8725	241	44	value	value	NOUN
easat-8725	241	45	in	in	ADP
easat-8725	241	46	both	both	DET
easat-8725	241	47	tests	test	NOUN
easat-8725	241	48	.	.	PUNCT
easat-8725	242	1	however	however	ADV
easat-8725	242	2	,	,	PUNCT
easat-8725	242	3	after	after	ADP
easat-8725	242	4	testing	test	VERB
easat-8725	242	5	them	they	PRON
easat-8725	242	6	at	at	ADP
easat-8725	242	7	their	their	PRON
easat-8725	242	8	first	first	ADJ
easat-8725	242	9	difference	difference	NOUN
easat-8725	242	10	they	they	PRON
easat-8725	242	11	were	be	AUX
easat-8725	242	12	all	all	ADV
easat-8725	242	13	stationary	stationary	ADJ
easat-8725	242	14	.	.	PUNCT
easat-8725	243	1	this	this	PRON
easat-8725	243	2	implies	imply	VERB
easat-8725	243	3	that	that	SCONJ
easat-8725	243	4	all	all	DET
easat-8725	243	5	the	the	DET
easat-8725	243	6	variables	variable	NOUN
easat-8725	243	7	are	be	AUX
easat-8725	243	8	integrated	integrate	VERB
easat-8725	243	9	of	of	ADP
easat-8725	243	10	the	the	DET
easat-8725	243	11	same	same	ADJ
easat-8725	243	12	order	order	NOUN
easat-8725	243	13	1(1	1(1	NUM
easat-8725	243	14	)	)	PUNCT
easat-8725	243	15	.	.	PUNCT
easat-8725	244	1	therefore	therefore	ADV
easat-8725	244	2	,	,	PUNCT
easat-8725	244	3	the	the	DET
easat-8725	244	4	cointegration	cointegration	NOUN
easat-8725	244	5	test	test	NOUN
easat-8725	244	6	is	be	AUX
easat-8725	244	7	necessary	necessary	ADJ
easat-8725	244	8	to	to	PART
easat-8725	244	9	further	far	ADV
easat-8725	244	10	check	check	VERB
easat-8725	244	11	for	for	ADP
easat-8725	244	12	the	the	DET
easat-8725	244	13	long	long	ADJ
easat-8725	244	14	run	run	NOUN
easat-8725	244	15	relationship	relationship	NOUN
easat-8725	244	16	among	among	ADP
easat-8725	244	17	the	the	DET
easat-8725	244	18	variables	variable	NOUN
easat-8725	244	19	.	.	PUNCT
easat-8725	245	1	4.2	4.2	NUM
easat-8725	245	2	.	.	PUNCT
easat-8725	246	1	co	co	NOUN
easat-8725	246	2	-	-	NOUN
easat-8725	246	3	integration	integration	NOUN
easat-8725	246	4	test	test	NOUN
easat-8725	246	5	cointegration	cointegration	NOUN
easat-8725	246	6	is	be	AUX
easat-8725	246	7	a	a	DET
easat-8725	246	8	statistical	statistical	ADJ
easat-8725	246	9	property	property	NOUN
easat-8725	246	10	of	of	ADP
easat-8725	246	11	time	time	NOUN
easat-8725	246	12	series	series	PROPN
easat-8725	246	13	variables	variable	NOUN
easat-8725	246	14	.	.	PUNCT
easat-8725	247	1	two	two	NUM
easat-8725	247	2	or	or	CCONJ
easat-8725	247	3	more	more	ADJ
easat-8725	247	4	time	time	NOUN
easat-8725	247	5	series	series	PROPN
easat-8725	247	6	variables	variable	NOUN
easat-8725	247	7	are	be	AUX
easat-8725	247	8	cointegrated	cointegrate	VERB
easat-8725	247	9	if	if	SCONJ
easat-8725	247	10	they	they	PRON
easat-8725	247	11	share	share	VERB
easat-8725	247	12	a	a	DET
easat-8725	247	13	change	change	NOUN
easat-8725	247	14	of	of	ADP
easat-8725	247	15	the	the	DET
easat-8725	247	16	average	average	ADJ
easat-8725	247	17	value	value	NOUN
easat-8725	247	18	.	.	PUNCT
easat-8725	248	1	according	accord	VERB
easat-8725	248	2	to	to	ADP
easat-8725	248	3	nelson	nelson	PROPN
easat-8725	248	4	and	and	CCONJ
easat-8725	248	5	plosser	plosser	NOUN
easat-8725	248	6	[	[	X
easat-8725	248	7	33	33	NUM
easat-8725	248	8	]	]	PUNCT
easat-8725	248	9	time	time	NOUN
easat-8725	248	10	series	series	PROPN
easat-8725	248	11	data	datum	NOUN
easat-8725	248	12	evolve	evolve	VERB
easat-8725	248	13	over	over	ADP
easat-8725	248	14	time	time	NOUN
easat-8725	248	15	such	such	ADJ
easat-8725	248	16	that	that	SCONJ
easat-8725	248	17	their	their	PRON
easat-8725	248	18	mean	mean	NOUN
easat-8725	248	19	and	and	CCONJ
easat-8725	248	20	variance	variance	NOUN
easat-8725	248	21	are	be	AUX
easat-8725	248	22	not	not	PART
easat-8725	248	23	constant	constant	ADJ
easat-8725	248	24	.	.	PUNCT
easat-8725	249	1	to	to	PART
easat-8725	249	2	address	address	VERB
easat-8725	249	3	this	this	DET
easat-8725	249	4	problem	problem	NOUN
easat-8725	249	5	in	in	ADP
easat-8725	249	6	the	the	DET
easat-8725	249	7	time	time	NOUN
easat-8725	249	8	series	series	PROPN
easat-8725	249	9	data	data	PROPN
easat-8725	249	10	,	,	PUNCT
easat-8725	249	11	a	a	DET
easat-8725	249	12	cointegration	cointegration	NOUN
easat-8725	249	13	test	test	NOUN
easat-8725	249	14	is	be	AUX
easat-8725	249	15	normally	normally	ADV
easat-8725	249	16	performed	perform	VERB
easat-8725	249	17	.	.	PUNCT
easat-8725	250	1	the	the	DET
easat-8725	250	2	johansen	johansen	PROPN
easat-8725	250	3	and	and	CCONJ
easat-8725	250	4	juselius	juselius	NOUN
easat-8725	250	5	[	[	X
easat-8725	250	6	34	34	NUM
easat-8725	250	7	]	]	SYM
easat-8725	250	8	775	775	NUM
easat-8725	250	9	edelweiss	edelweiss	PROPN
easat-8725	250	10	applied	apply	VERB
easat-8725	250	11	science	science	NOUN
easat-8725	250	12	and	and	CCONJ
easat-8725	250	13	technology	technology	NOUN
easat-8725	250	14	issn	issn	PROPN
easat-8725	250	15	:	:	PUNCT
easat-8725	250	16	2576	2576	NUM
easat-8725	250	17	-	-	SYM
easat-8725	250	18	8484	8484	NUM
easat-8725	250	19	vol	vol	NOUN
easat-8725	250	20	.	.	PROPN
easat-8725	251	1	9	9	NUM
easat-8725	251	2	,	,	PUNCT
easat-8725	251	3	no	no	INTJ
easat-8725	251	4	.	.	NOUN
easat-8725	251	5	7	7	NUM
easat-8725	251	6	:	:	PUNCT
easat-8725	251	7	767	767	NUM
easat-8725	251	8	-	-	SYM
easat-8725	251	9	779	779	NUM
easat-8725	251	10	,	,	PUNCT
easat-8725	251	11	2025	2025	NUM
easat-8725	251	12	doi	doi	NOUN
easat-8725	251	13	:	:	PUNCT
easat-8725	251	14	10.55214/25768484.v9i7.8725	10.55214/25768484.v9i7.8725	NUM
easat-8725	251	15	©	©	PROPN
easat-8725	251	16	2025	2025	NUM
easat-8725	251	17	by	by	ADP
easat-8725	251	18	the	the	DET
easat-8725	251	19	authors	author	NOUN
easat-8725	251	20	;	;	PUNCT
easat-8725	251	21	licensee	licensee	PROPN
easat-8725	251	22	learning	learn	VERB
easat-8725	251	23	gate	gate	PROPN
easat-8725	251	24	cointegration	cointegration	NOUN
easat-8725	251	25	test	test	NOUN
easat-8725	251	26	was	be	AUX
easat-8725	251	27	conducted	conduct	VERB
easat-8725	251	28	to	to	PART
easat-8725	251	29	test	test	VERB
easat-8725	251	30	the	the	DET
easat-8725	251	31	order	order	NOUN
easat-8725	251	32	of	of	ADP
easat-8725	251	33	cointegrating	cointegrate	VERB
easat-8725	251	34	relationships	relationship	NOUN
easat-8725	251	35	and	and	CCONJ
easat-8725	251	36	the	the	DET
easat-8725	251	37	result	result	NOUN
easat-8725	251	38	is	be	AUX
easat-8725	251	39	presented	present	VERB
easat-8725	251	40	below	below	ADP
easat-8725	251	41	.	.	PUNCT
easat-8725	252	1	table	table	NOUN
easat-8725	252	2	3	3	NUM
easat-8725	252	3	.	.	PUNCT
easat-8725	253	1	co	co	NOUN
easat-8725	253	2	-	-	NOUN
easat-8725	253	3	integration	integration	NOUN
easat-8725	253	4	result	result	NOUN
easat-8725	253	5	.	.	PUNCT
easat-8725	254	1	series	series	NOUN
easat-8725	254	2	:	:	PUNCT
easat-8725	254	3	fpi	fpi	PROPN
easat-8725	254	4	asi	asi	PROPN
easat-8725	254	5	mcap	mcap	PROPN
easat-8725	254	6	vot	vot	PROPN
easat-8725	254	7	vst	vst	PROPN
easat-8725	254	8	ifr	ifr	PROPN
easat-8725	254	9	exr	exr	PROPN
easat-8725	254	10	lags	lag	VERB
easat-8725	254	11	interval	interval	NOUN
easat-8725	254	12	(	(	PUNCT
easat-8725	254	13	in	in	ADP
easat-8725	254	14	first	first	ADJ
easat-8725	254	15	differences	difference	NOUN
easat-8725	254	16	):	):	PUNCT
easat-8725	254	17	1	1	NUM
easat-8725	254	18	to	to	PART
easat-8725	254	19	1	1	NUM
easat-8725	254	20	unrestricted	unrestricted	ADJ
easat-8725	254	21	cointegration	cointegration	NOUN
easat-8725	254	22	rank	rank	NOUN
easat-8725	254	23	test	test	NOUN
easat-8725	254	24	(	(	PUNCT
easat-8725	254	25	trace	trace	NOUN
easat-8725	254	26	)	)	PUNCT
easat-8725	254	27	hypothesized	hypothesize	VERB
easat-8725	254	28	trace	trace	NOUN
easat-8725	254	29	0.05	0.05	NUM
easat-8725	254	30	no	no	NOUN
easat-8725	254	31	.	.	PUNCT
easat-8725	255	1	of	of	ADP
easat-8725	255	2	ce(s	ce(s	ADV
easat-8725	255	3	)	)	PUNCT
easat-8725	255	4	eigenvalue	eigenvalue	NOUN
easat-8725	255	5	statistic	statistic	ADJ
easat-8725	255	6	critical	critical	ADJ
easat-8725	255	7	value	value	NOUN
easat-8725	255	8	prob	prob	NOUN
easat-8725	255	9	.	.	PUNCT
easat-8725	256	1	*	*	PUNCT
easat-8725	257	1	*	*	PUNCT
easat-8725	258	1	none	none	NOUN
easat-8725	258	2	*	*	PUNCT
easat-8725	258	3	0.946359	0.946359	NUM
easat-8725	258	4	220.6574	220.6574	NUM
easat-8725	258	5	125.6154	125.6154	NUM
easat-8725	258	6	0.0000	0.0000	NUM
easat-8725	258	7	at	at	ADP
easat-8725	258	8	most	most	ADJ
easat-8725	258	9	1	1	NUM
easat-8725	258	10	*	*	SYM
easat-8725	258	11	0.657056	0.657056	NUM
easat-8725	258	12	118.2666	118.2666	NUM
easat-8725	258	13	95.75366	95.75366	NUM
easat-8725	258	14	0.0006	0.0006	NUM
easat-8725	258	15	at	at	ADP
easat-8725	258	16	most	most	ADJ
easat-8725	258	17	2	2	NUM
easat-8725	258	18	*	*	SYM
easat-8725	258	19	0.612888	0.612888	NUM
easat-8725	258	20	80.81004	80.81004	NUM
easat-8725	258	21	69.81889	69.81889	NUM
easat-8725	258	22	0.0051	0.0051	NUM
easat-8725	258	23	at	at	ADP
easat-8725	258	24	most	most	ADJ
easat-8725	258	25	3	3	NUM
easat-8725	258	26	0.428221	0.428221	NUM
easat-8725	258	27	47.59355	47.59355	NUM
easat-8725	258	28	47.85613	47.85613	NUM
easat-8725	258	29	0.0529	0.0529	NUM
easat-8725	258	30	at	at	ADP
easat-8725	258	31	most	most	ADJ
easat-8725	258	32	4	4	NUM
easat-8725	258	33	0.366940	0.366940	NUM
easat-8725	258	34	28.02849	28.02849	NUM
easat-8725	258	35	29.79707	29.79707	NUM
easat-8725	258	36	0.0789	0.0789	NUM
easat-8725	258	37	at	at	ADP
easat-8725	258	38	most	most	ADJ
easat-8725	258	39	5	5	NUM
easat-8725	258	40	0.177800	0.177800	NUM
easat-8725	258	41	12.02681	12.02681	NUM
easat-8725	258	42	15.49471	15.49471	NUM
easat-8725	258	43	0.1556	0.1556	NUM
easat-8725	258	44	at	at	ADP
easat-8725	258	45	most	most	ADJ
easat-8725	258	46	6	6	NUM
easat-8725	258	47	*	*	PUNCT
easat-8725	258	48	0.137440	0.137440	NUM
easat-8725	258	49	5.174788	5.174788	NUM
easat-8725	258	50	3.841466	3.841466	NUM
easat-8725	258	51	0.0229	0.0229	NUM
easat-8725	258	52	trace	trace	NOUN
easat-8725	258	53	test	test	NOUN
easat-8725	258	54	indicates	indicate	VERB
easat-8725	258	55	3	3	NUM
easat-8725	258	56	cointegrating	cointegrate	VERB
easat-8725	258	57	eqn(s	eqn(s	PROPN
easat-8725	258	58	)	)	PUNCT
easat-8725	258	59	at	at	ADP
easat-8725	258	60	the	the	DET
easat-8725	258	61	0.05	0.05	NUM
easat-8725	258	62	level	level	NOUN
easat-8725	258	63	note	note	NOUN
easat-8725	258	64	:	:	PUNCT
easat-8725	258	65	*	*	PUNCT
easat-8725	258	66	denotes	denote	NOUN
easat-8725	258	67	rejection	rejection	NOUN
easat-8725	258	68	of	of	ADP
easat-8725	258	69	the	the	DET
easat-8725	258	70	hypothesis	hypothesis	NOUN
easat-8725	258	71	at	at	ADP
easat-8725	258	72	the	the	DET
easat-8725	258	73	0.05	0.05	NUM
easat-8725	258	74	level	level	NOUN
easat-8725	258	75	.	.	PUNCT
easat-8725	259	1	*	*	PUNCT
easat-8725	259	2	*	*	PUNCT
easat-8725	259	3	mackinnon	mackinnon	PROPN
easat-8725	259	4	,	,	PUNCT
easat-8725	259	5	et	et	PROPN
easat-8725	259	6	al	al	PROPN
easat-8725	259	7	.	.	PUNCT
easat-8725	260	1	[	[	X
easat-8725	260	2	35	35	NUM
easat-8725	260	3	]	]	X
easat-8725	260	4	p	p	NOUN
easat-8725	260	5	-	-	PUNCT
easat-8725	260	6	values	value	NOUN
easat-8725	260	7	.	.	PUNCT
easat-8725	261	1	the	the	DET
easat-8725	261	2	procedure	procedure	NOUN
easat-8725	261	3	for	for	ADP
easat-8725	261	4	cointegration	cointegration	NOUN
easat-8725	261	5	check	check	NOUN
easat-8725	261	6	begins	begin	VERB
easat-8725	261	7	with	with	ADP
easat-8725	261	8	the	the	DET
easat-8725	261	9	null	null	ADJ
easat-8725	261	10	hypothesis	hypothesis	NOUN
easat-8725	261	11	that	that	SCONJ
easat-8725	261	12	there	there	PRON
easat-8725	261	13	are	be	VERB
easat-8725	261	14	no	no	DET
easat-8725	261	15	cointegration	cointegration	NOUN
easat-8725	261	16	among	among	ADP
easat-8725	261	17	the	the	DET
easat-8725	261	18	systems	system	NOUN
easat-8725	261	19	of	of	ADP
easat-8725	261	20	equations	equation	NOUN
easat-8725	261	21	in	in	ADP
easat-8725	261	22	the	the	DET
easat-8725	261	23	var	var	NOUN
easat-8725	261	24	model	model	NOUN
easat-8725	261	25	.	.	PUNCT
easat-8725	262	1	a	a	DET
easat-8725	262	2	rejection	rejection	NOUN
easat-8725	262	3	of	of	ADP
easat-8725	262	4	this	this	DET
easat-8725	262	5	hypothesis	hypothesis	NOUN
easat-8725	262	6	,	,	PUNCT
easat-8725	262	7	implies	imply	VERB
easat-8725	262	8	the	the	DET
easat-8725	262	9	existence	existence	NOUN
easat-8725	262	10	of	of	ADP
easat-8725	262	11	cointegration	cointegration	NOUN
easat-8725	262	12	among	among	ADP
easat-8725	262	13	some	some	PRON
easat-8725	262	14	or	or	CCONJ
easat-8725	262	15	all	all	DET
easat-8725	262	16	the	the	DET
easat-8725	262	17	equations	equation	NOUN
easat-8725	262	18	.	.	PUNCT
easat-8725	263	1	table	table	NOUN
easat-8725	263	2	4.3.2	4.3.2	NUM
easat-8725	263	3	presents	present	VERB
easat-8725	263	4	the	the	DET
easat-8725	263	5	result	result	NOUN
easat-8725	263	6	for	for	ADP
easat-8725	263	7	both	both	CCONJ
easat-8725	263	8	the	the	DET
easat-8725	263	9	trace	trace	NOUN
easat-8725	263	10	statistics	statistic	NOUN
easat-8725	263	11	cointegration	cointegration	PROPN
easat-8725	263	12	rank	rank	PROPN
easat-8725	263	13	test	test	NOUN
easat-8725	263	14	.	.	PUNCT
easat-8725	264	1	the	the	DET
easat-8725	264	2	trace	trace	NOUN
easat-8725	264	3	statistics	statistic	NOUN
easat-8725	264	4	indicates	indicate	VERB
easat-8725	264	5	the	the	DET
easat-8725	264	6	rejection	rejection	NOUN
easat-8725	264	7	of	of	ADP
easat-8725	264	8	all	all	DET
easat-8725	264	9	the	the	DET
easat-8725	264	10	null	null	ADJ
easat-8725	264	11	hypothesis	hypothesis	NOUN
easat-8725	264	12	stated	state	VERB
easat-8725	264	13	at	at	ADP
easat-8725	264	14	5	5	NUM
easat-8725	264	15	%	%	NOUN
easat-8725	264	16	critical	critical	ADJ
easat-8725	264	17	value	value	NOUN
easat-8725	264	18	,	,	PUNCT
easat-8725	264	19	this	this	PRON
easat-8725	264	20	implies	imply	VERB
easat-8725	264	21	the	the	DET
easat-8725	264	22	existence	existence	NOUN
easat-8725	264	23	of	of	ADP
easat-8725	264	24	long	long	ADJ
easat-8725	264	25	run	run	NOUN
easat-8725	264	26	relationship	relationship	NOUN
easat-8725	264	27	among	among	ADP
easat-8725	264	28	four	four	NUM
easat-8725	264	29	equations	equation	NOUN
easat-8725	264	30	in	in	ADP
easat-8725	264	31	the	the	DET
easat-8725	264	32	model	model	NOUN
easat-8725	264	33	.	.	PUNCT
easat-8725	265	1	the	the	DET
easat-8725	265	2	implication	implication	NOUN
easat-8725	265	3	of	of	ADP
easat-8725	265	4	the	the	DET
easat-8725	265	5	result	result	NOUN
easat-8725	265	6	implies	imply	VERB
easat-8725	265	7	the	the	DET
easat-8725	265	8	existence	existence	NOUN
easat-8725	265	9	of	of	ADP
easat-8725	265	10	a	a	DET
easat-8725	265	11	long	long	ADJ
easat-8725	265	12	run	run	NOUN
easat-8725	265	13	relationship	relationship	NOUN
easat-8725	265	14	among	among	ADP
easat-8725	265	15	some	some	PRON
easat-8725	265	16	of	of	ADP
easat-8725	265	17	the	the	DET
easat-8725	265	18	variables	variable	NOUN
easat-8725	265	19	,	,	PUNCT
easat-8725	265	20	therefore	therefore	ADV
easat-8725	265	21	it	it	PRON
easat-8725	265	22	’s	’s	AUX
easat-8725	265	23	required	require	VERB
easat-8725	265	24	that	that	SCONJ
easat-8725	265	25	the	the	DET
easat-8725	265	26	var	var	NOUN
easat-8725	265	27	analysis	analysis	NOUN
easat-8725	265	28	is	be	AUX
easat-8725	265	29	estimated	estimate	VERB
easat-8725	265	30	through	through	ADP
easat-8725	265	31	an	an	DET
easat-8725	265	32	error	error	NOUN
easat-8725	265	33	correction	correction	NOUN
easat-8725	265	34	mechanism	mechanism	NOUN
easat-8725	265	35	(	(	PUNCT
easat-8725	265	36	ecm	ecm	NOUN
easat-8725	265	37	)	)	PUNCT
easat-8725	265	38	to	to	PART
easat-8725	265	39	know	know	VERB
easat-8725	265	40	the	the	DET
easat-8725	265	41	rate	rate	NOUN
easat-8725	265	42	at	at	ADP
easat-8725	265	43	which	which	PRON
easat-8725	265	44	errors	error	NOUN
easat-8725	265	45	in	in	ADP
easat-8725	265	46	the	the	DET
easat-8725	265	47	var	var	NOUN
easat-8725	265	48	system	system	NOUN
easat-8725	265	49	are	be	AUX
easat-8725	265	50	corrected	correct	VERB
easat-8725	265	51	in	in	ADP
easat-8725	265	52	the	the	DET
easat-8725	265	53	long	long	ADJ
easat-8725	265	54	run	run	NOUN
easat-8725	265	55	and	and	CCONJ
easat-8725	265	56	converges	converge	VERB
easat-8725	265	57	to	to	ADP
easat-8725	265	58	equilibrium	equilibrium	NOUN
easat-8725	265	59	4.3	4.3	NUM
easat-8725	265	60	.	.	PUNCT
easat-8725	266	1	error	error	NOUN
easat-8725	266	2	correction	correction	NOUN
easat-8725	266	3	model	model	NOUN
easat-8725	266	4	fpit	fpit	PROPN
easat-8725	266	5	=	=	SYM
easat-8725	266	6	β0	β0	PROPN
easat-8725	266	7	+	+	X
easat-8725	266	8	β1asit+	β1asit+	NOUN
easat-8725	266	9	β2mcapt	β2mcapt	NOUN
easat-8725	266	10	+	+	CCONJ
easat-8725	266	11	β3	β3	VERB
easat-8725	266	12	vost	vost	NOUN
easat-8725	266	13	+	+	CCONJ
easat-8725	266	14	β4vott	β4vott	NOUN
easat-8725	266	15	+	+	CCONJ
easat-8725	266	16	β5ifrt+	β5ifrt+	NOUN
easat-8725	266	17	β6etrt	β6etrt	PROPN
easat-8725	266	18	+	+	CCONJ
easat-8725	266	19	μ	μ	PROPN
easat-8725	266	20	.	.	PUNCT
easat-8725	266	21	.	.	PUNCT
easat-8725	266	22	.	.	PUNCT
easat-8725	266	23	.	.	PUNCT
easat-8725	266	24	.	.	PUNCT
easat-8725	266	25	.	.	PUNCT
easat-8725	266	26	.	.	PUNCT
easat-8725	266	27	.	.	PUNCT
easat-8725	266	28	.	.	PUNCT
easat-8725	266	29	.	.	PUNCT
easat-8725	266	30	.	.	PUNCT
easat-8725	267	1	table	table	NOUN
easat-8725	267	2	4	4	NUM
easat-8725	267	3	.	.	PUNCT
easat-8725	268	1	ecm	ecm	NOUN
easat-8725	268	2	regression	regression	NOUN
easat-8725	268	3	.	.	PUNCT
easat-8725	269	1	ecm	ecm	NOUN
easat-8725	269	2	regression	regression	VERB
easat-8725	269	3	variable	variable	ADJ
easat-8725	269	4	coefficient	coefficient	NOUN
easat-8725	269	5	std	std	NOUN
easat-8725	269	6	.	.	NOUN
easat-8725	269	7	error	error	NOUN
easat-8725	269	8	t	t	NOUN
easat-8725	269	9	-	-	PUNCT
easat-8725	269	10	statistic	statistic	NOUN
easat-8725	269	11	prob	prob	PROPN
easat-8725	269	12	.	.	PROPN
easat-8725	269	13	asi	asi	PROPN
easat-8725	269	14	0.052071	0.052071	NUM
easat-8725	269	15	0.012191	0.012191	NUM
easat-8725	269	16	4.271205	4.271205	NUM
easat-8725	269	17	0.0004	0.0004	NUM
easat-8725	269	18	mcap	mcap	NOUN
easat-8725	269	19	0.340853	0.340853	NUM
easat-8725	269	20	0.039338	0.039338	NUM
easat-8725	269	21	8.664610	8.664610	NUM
easat-8725	269	22	0.0000	0.0000	NUM
easat-8725	269	23	vot	vot	NOUN
easat-8725	269	24	0.006342	0.006342	NUM
easat-8725	269	25	0.000574	0.000574	NUM
easat-8725	269	26	11.04338	11.04338	NUM
easat-8725	269	27	0.0000	0.0000	NUM
easat-8725	269	28	vst	vst	VERB
easat-8725	269	29	7.173688	7.173688	NUM
easat-8725	269	30	0.711627	0.711627	NUM
easat-8725	269	31	10.08069	10.08069	NUM
easat-8725	269	32	0.0000	0.0000	NUM
easat-8725	269	33	exr	exr	PROPN
easat-8725	269	34	7.780964	7.780964	NUM
easat-8725	269	35	3.113644	3.113644	NUM
easat-8725	269	36	2.498990	2.498990	NUM
easat-8725	269	37	0.0218	0.0218	NUM
easat-8725	269	38	ect(-1	ect(-1	NOUN
easat-8725	269	39	)	)	PUNCT
easat-8725	269	40	*	*	PUNCT
easat-8725	269	41	-0.760876	-0.760876	NOUN
easat-8725	270	1	0.063562	0.063562	NUM
easat-8725	270	2	-11.97068	-11.97068	NUM
easat-8725	271	1	0.0000	0.0000	NUM
easat-8725	271	2	r	r	X
easat-8725	271	3	-	-	PUNCT
easat-8725	271	4	squared	square	VERB
easat-8725	271	5	0.988497	0.988497	NUM
easat-8725	271	6	mean	mean	NOUN
easat-8725	271	7	dependent	dependent	ADJ
easat-8725	271	8	var	var	NOUN
easat-8725	271	9	1167.101	1167.101	NUM
easat-8725	271	10	adjusted	adjust	VERB
easat-8725	271	11	r	r	NOUN
easat-8725	271	12	-	-	PUNCT
easat-8725	271	13	squared	square	VERB
easat-8725	271	14	0.984958	0.984958	NUM
easat-8725	271	15	s.d	s.d	PROPN
easat-8725	271	16	.	.	PUNCT
easat-8725	272	1	dependent	dependent	ADJ
easat-8725	272	2	var	var	NOUN
easat-8725	272	3	2595.428	2595.428	NUM
easat-8725	272	4	durbin	durbin	ADJ
easat-8725	272	5	-	-	PUNCT
easat-8725	272	6	watson	watson	NOUN
easat-8725	272	7	stat	stat	PROPN
easat-8725	272	8	2.235699	2.235699	NUM
easat-8725	272	9	the	the	DET
easat-8725	272	10	regression	regression	NOUN
easat-8725	272	11	results	result	NOUN
easat-8725	272	12	reveal	reveal	VERB
easat-8725	272	13	that	that	SCONJ
easat-8725	272	14	all	all	DET
easat-8725	272	15	the	the	DET
easat-8725	272	16	independent	independent	ADJ
easat-8725	272	17	variables	variable	NOUN
easat-8725	272	18	included	include	VERB
easat-8725	272	19	in	in	ADP
easat-8725	272	20	the	the	DET
easat-8725	272	21	model	model	NOUN
easat-8725	272	22	—	—	PUNCT
easat-8725	272	23	all	all	DET
easat-8725	272	24	share	share	NOUN
easat-8725	272	25	index	index	NOUN
easat-8725	272	26	(	(	PUNCT
easat-8725	272	27	asi	asi	NOUN
easat-8725	272	28	)	)	PUNCT
easat-8725	272	29	,	,	PUNCT
easat-8725	272	30	market	market	NOUN
easat-8725	272	31	capitalization	capitalization	NOUN
easat-8725	272	32	(	(	PUNCT
easat-8725	272	33	mcap	mcap	NOUN
easat-8725	272	34	)	)	PUNCT
easat-8725	272	35	,	,	PUNCT
easat-8725	272	36	volume	volume	NOUN
easat-8725	272	37	of	of	ADP
easat-8725	272	38	trade	trade	NOUN
easat-8725	272	39	(	(	PUNCT
easat-8725	272	40	vot	vot	PROPN
easat-8725	272	41	)	)	PUNCT
easat-8725	272	42	,	,	PUNCT
easat-8725	272	43	value	value	NOUN
easat-8725	272	44	of	of	ADP
easat-8725	272	45	shares	share	NOUN
easat-8725	272	46	traded	trade	VERB
easat-8725	272	47	(	(	PUNCT
easat-8725	272	48	vst	vst	NOUN
easat-8725	272	49	)	)	PUNCT
easat-8725	272	50	,	,	PUNCT
easat-8725	272	51	and	and	CCONJ
easat-8725	272	52	exchange	exchange	NOUN
easat-8725	272	53	rate	rate	NOUN
easat-8725	272	54	(	(	PUNCT
easat-8725	272	55	exr)—have	exr)—have	X
easat-8725	272	56	statistically	statistically	ADV
easat-8725	272	57	significant	significant	ADJ
easat-8725	272	58	impacts	impact	NOUN
easat-8725	272	59	on	on	ADP
easat-8725	272	60	the	the	DET
easat-8725	272	61	dependent	dependent	ADJ
easat-8725	272	62	variable	variable	NOUN
easat-8725	272	63	,	,	PUNCT
easat-8725	272	64	indicating	indicate	VERB
easat-8725	272	65	a	a	DET
easat-8725	272	66	robust	robust	ADJ
easat-8725	272	67	model	model	NOUN
easat-8725	272	68	fit	fit	NOUN
easat-8725	272	69	.	.	PUNCT
easat-8725	273	1	this	this	PRON
easat-8725	273	2	is	be	AUX
easat-8725	273	3	substantiated	substantiate	VERB
easat-8725	273	4	by	by	ADP
easat-8725	273	5	a	a	DET
easat-8725	273	6	very	very	ADV
easat-8725	273	7	high	high	ADJ
easat-8725	273	8	adjusted	adjusted	ADJ
easat-8725	273	9	r	r	NOUN
easat-8725	273	10	-	-	PUNCT
easat-8725	273	11	squared	square	VERB
easat-8725	273	12	value	value	NOUN
easat-8725	273	13	of	of	ADP
easat-8725	273	14	0.9849	0.9849	NUM
easat-8725	273	15	,	,	PUNCT
easat-8725	273	16	suggesting	suggest	VERB
easat-8725	273	17	that	that	SCONJ
easat-8725	273	18	approximately	approximately	ADV
easat-8725	273	19	98.5	98.5	NUM
easat-8725	273	20	%	%	NOUN
easat-8725	273	21	of	of	ADP
easat-8725	273	22	the	the	DET
easat-8725	273	23	variability	variability	NOUN
easat-8725	273	24	in	in	ADP
easat-8725	273	25	the	the	DET
easat-8725	273	26	dependent	dependent	ADJ
easat-8725	273	27	variable	variable	NOUN
easat-8725	273	28	is	be	AUX
easat-8725	273	29	explained	explain	VERB
easat-8725	273	30	by	by	ADP
easat-8725	273	31	the	the	DET
easat-8725	273	32	model	model	NOUN
easat-8725	273	33	,	,	PUNCT
easat-8725	273	34	which	which	PRON
easat-8725	273	35	aligns	align	VERB
easat-8725	273	36	with	with	ADP
easat-8725	273	37	similar	similar	ADJ
easat-8725	273	38	high	high	ADJ
easat-8725	273	39	explanatory	explanatory	ADJ
easat-8725	273	40	power	power	NOUN
easat-8725	273	41	reported	report	VERB
easat-8725	273	42	in	in	ADP
easat-8725	273	43	capital	capital	NOUN
easat-8725	273	44	market	market	NOUN
easat-8725	273	45	studies	study	NOUN
easat-8725	273	46	in	in	ADP
easat-8725	273	47	nigeria	nigeria	PROPN
easat-8725	274	1	[	[	X
easat-8725	274	2	1	1	NUM
easat-8725	274	3	,	,	PUNCT
easat-8725	274	4	2	2	NUM
easat-8725	274	5	]	]	PUNCT
easat-8725	274	6	.	.	PUNCT
easat-8725	275	1	776	776	NUM
easat-8725	275	2	edelweiss	edelweiss	PROPN
easat-8725	275	3	applied	apply	VERB
easat-8725	275	4	science	science	NOUN
easat-8725	275	5	and	and	CCONJ
easat-8725	275	6	technology	technology	NOUN
easat-8725	275	7	issn	issn	PROPN
easat-8725	275	8	:	:	PUNCT
easat-8725	275	9	2576	2576	NUM
easat-8725	275	10	-	-	SYM
easat-8725	275	11	8484	8484	NUM
easat-8725	275	12	vol	vol	NOUN
easat-8725	275	13	.	.	PROPN
easat-8725	276	1	9	9	NUM
easat-8725	276	2	,	,	PUNCT
easat-8725	276	3	no	no	INTJ
easat-8725	276	4	.	.	NOUN
easat-8725	276	5	7	7	NUM
easat-8725	276	6	:	:	PUNCT
easat-8725	276	7	767	767	NUM
easat-8725	276	8	-	-	SYM
easat-8725	276	9	779	779	NUM
easat-8725	276	10	,	,	PUNCT
easat-8725	276	11	2025	2025	NUM
easat-8725	276	12	doi	doi	NOUN
easat-8725	276	13	:	:	PUNCT
easat-8725	276	14	10.55214/25768484.v9i7.8725	10.55214/25768484.v9i7.8725	NUM
easat-8725	276	15	©	©	PROPN
easat-8725	276	16	2025	2025	NUM
easat-8725	276	17	by	by	ADP
easat-8725	276	18	the	the	DET
easat-8725	276	19	authors	author	NOUN
easat-8725	276	20	;	;	PUNCT
easat-8725	276	21	licensee	licensee	PROPN
easat-8725	276	22	learning	learning	NOUN
easat-8725	276	23	gate	gate	VERB
easat-8725	276	24	the	the	DET
easat-8725	276	25	positive	positive	ADJ
easat-8725	276	26	and	and	CCONJ
easat-8725	276	27	significant	significant	ADJ
easat-8725	276	28	coefficient	coefficient	NOUN
easat-8725	276	29	for	for	ADP
easat-8725	276	30	asi	asi	NOUN
easat-8725	276	31	(	(	PUNCT
easat-8725	276	32	0.0521	0.0521	NUM
easat-8725	276	33	)	)	PUNCT
easat-8725	276	34	indicates	indicate	VERB
easat-8725	276	35	that	that	SCONJ
easat-8725	276	36	improvements	improvement	NOUN
easat-8725	276	37	in	in	ADP
easat-8725	276	38	the	the	DET
easat-8725	276	39	overall	overall	ADJ
easat-8725	276	40	stock	stock	NOUN
easat-8725	276	41	market	market	NOUN
easat-8725	276	42	performance	performance	NOUN
easat-8725	276	43	are	be	AUX
easat-8725	276	44	associated	associate	VERB
easat-8725	276	45	with	with	ADP
easat-8725	276	46	increases	increase	NOUN
easat-8725	276	47	in	in	ADP
easat-8725	276	48	the	the	DET
easat-8725	276	49	dependent	dependent	ADJ
easat-8725	276	50	variable	variable	NOUN
easat-8725	276	51	,	,	PUNCT
easat-8725	276	52	consistent	consistent	ADJ
easat-8725	276	53	with	with	ADP
easat-8725	276	54	findings	finding	NOUN
easat-8725	276	55	by	by	ADP
easat-8725	276	56	araoye	araoye	NOUN
easat-8725	277	1	[	[	X
easat-8725	277	2	17	17	NUM
easat-8725	277	3	]	]	PUNCT
easat-8725	277	4	who	who	PRON
easat-8725	277	5	documented	document	VERB
easat-8725	277	6	that	that	SCONJ
easat-8725	277	7	the	the	DET
easat-8725	277	8	all	all	DET
easat-8725	277	9	share	share	NOUN
easat-8725	277	10	index	index	NOUN
easat-8725	277	11	positively	positively	ADV
easat-8725	277	12	influences	influence	VERB
easat-8725	277	13	foreign	foreign	ADJ
easat-8725	277	14	portfolio	portfolio	NOUN
easat-8725	277	15	investment	investment	NOUN
easat-8725	277	16	inflows	inflow	NOUN
easat-8725	277	17	by	by	ADP
easat-8725	277	18	signaling	signal	VERB
easat-8725	277	19	market	market	NOUN
easat-8725	277	20	growth	growth	NOUN
easat-8725	277	21	and	and	CCONJ
easat-8725	277	22	investor	investor	NOUN
easat-8725	277	23	confidence	confidence	NOUN
easat-8725	277	24	.	.	PUNCT
easat-8725	278	1	likewise	likewise	ADV
easat-8725	278	2	,	,	PUNCT
easat-8725	278	3	the	the	DET
easat-8725	278	4	positive	positive	ADJ
easat-8725	278	5	effect	effect	NOUN
easat-8725	278	6	of	of	ADP
easat-8725	278	7	market	market	NOUN
easat-8725	278	8	capitalization	capitalization	NOUN
easat-8725	278	9	(	(	PUNCT
easat-8725	278	10	0.3409	0.3409	NUM
easat-8725	278	11	)	)	PUNCT
easat-8725	278	12	corroborates	corroborate	VERB
easat-8725	278	13	osuka	osuka	PROPN
easat-8725	278	14	,	,	PUNCT
easat-8725	278	15	et	et	PROPN
easat-8725	278	16	al	al	PROPN
easat-8725	278	17	.	.	PUNCT
easat-8725	279	1	[	[	X
easat-8725	279	2	6	6	NUM
easat-8725	279	3	]	]	PUNCT
easat-8725	279	4	who	who	PRON
easat-8725	279	5	demonstrated	demonstrate	VERB
easat-8725	279	6	that	that	SCONJ
easat-8725	279	7	larger	large	ADJ
easat-8725	279	8	market	market	NOUN
easat-8725	279	9	size	size	NOUN
easat-8725	279	10	attracts	attract	VERB
easat-8725	279	11	foreign	foreign	ADJ
easat-8725	279	12	investors	investor	NOUN
easat-8725	279	13	by	by	ADP
easat-8725	279	14	providing	provide	VERB
easat-8725	279	15	better	well	ADJ
easat-8725	279	16	liquidity	liquidity	NOUN
easat-8725	279	17	and	and	CCONJ
easat-8725	279	18	diversified	diversified	ADJ
easat-8725	279	19	opportunities	opportunity	NOUN
easat-8725	279	20	.	.	PUNCT
easat-8725	280	1	the	the	DET
easat-8725	280	2	volume	volume	NOUN
easat-8725	280	3	of	of	ADP
easat-8725	280	4	trade	trade	NOUN
easat-8725	280	5	(	(	PUNCT
easat-8725	280	6	vot	vot	PROPN
easat-8725	280	7	)	)	PUNCT
easat-8725	280	8	shows	show	VERB
easat-8725	280	9	a	a	DET
easat-8725	280	10	positive	positive	ADJ
easat-8725	280	11	and	and	CCONJ
easat-8725	280	12	highly	highly	ADV
easat-8725	280	13	significant	significant	ADJ
easat-8725	280	14	relationship	relationship	NOUN
easat-8725	280	15	with	with	ADP
easat-8725	280	16	the	the	DET
easat-8725	280	17	dependent	dependent	ADJ
easat-8725	280	18	variable	variable	NOUN
easat-8725	280	19	,	,	PUNCT
easat-8725	280	20	supporting	support	VERB
easat-8725	280	21	the	the	DET
easat-8725	280	22	notion	notion	NOUN
easat-8725	280	23	that	that	SCONJ
easat-8725	280	24	increased	increase	VERB
easat-8725	280	25	trading	trading	NOUN
easat-8725	280	26	activity	activity	NOUN
easat-8725	280	27	reflects	reflect	VERB
easat-8725	280	28	higher	high	ADJ
easat-8725	280	29	market	market	NOUN
easat-8725	280	30	liquidity	liquidity	NOUN
easat-8725	280	31	,	,	PUNCT
easat-8725	280	32	which	which	PRON
easat-8725	280	33	is	be	AUX
easat-8725	280	34	crucial	crucial	ADJ
easat-8725	280	35	for	for	ADP
easat-8725	280	36	foreign	foreign	ADJ
easat-8725	280	37	portfolio	portfolio	NOUN
easat-8725	280	38	investors	investor	NOUN
easat-8725	280	39	[	[	X
easat-8725	280	40	1	1	NUM
easat-8725	280	41	,	,	PUNCT
easat-8725	280	42	3	3	NUM
easat-8725	280	43	]	]	PUNCT
easat-8725	280	44	.	.	PUNCT
easat-8725	281	1	this	this	PRON
easat-8725	281	2	aligns	align	VERB
easat-8725	281	3	with	with	ADP
easat-8725	281	4	portfolio	portfolio	NOUN
easat-8725	281	5	theory	theory	NOUN
easat-8725	281	6	,	,	PUNCT
easat-8725	281	7	which	which	PRON
easat-8725	281	8	emphasizes	emphasize	VERB
easat-8725	281	9	the	the	DET
easat-8725	281	10	importance	importance	NOUN
easat-8725	281	11	of	of	ADP
easat-8725	281	12	liquidity	liquidity	NOUN
easat-8725	281	13	in	in	ADP
easat-8725	281	14	reducing	reduce	VERB
easat-8725	281	15	transaction	transaction	NOUN
easat-8725	281	16	costs	cost	NOUN
easat-8725	281	17	and	and	CCONJ
easat-8725	281	18	enhancing	enhance	VERB
easat-8725	281	19	portfolio	portfolio	NOUN
easat-8725	281	20	optimization	optimization	NOUN
easat-8725	281	21	[	[	X
easat-8725	281	22	18	18	NUM
easat-8725	281	23	]	]	PUNCT
easat-8725	281	24	.	.	PUNCT
easat-8725	282	1	interestingly	interestingly	ADV
easat-8725	282	2	,	,	PUNCT
easat-8725	282	3	the	the	DET
easat-8725	282	4	negative	negative	ADJ
easat-8725	282	5	coefficient	coefficient	NOUN
easat-8725	282	6	for	for	ADP
easat-8725	282	7	value	value	NOUN
easat-8725	282	8	of	of	ADP
easat-8725	282	9	shares	share	NOUN
easat-8725	282	10	traded	trade	VERB
easat-8725	282	11	(	(	PUNCT
easat-8725	282	12	vst	vst	PROPN
easat-8725	282	13	)	)	PUNCT
easat-8725	282	14	(	(	PUNCT
easat-8725	282	15	-7.1737	-7.1737	PROPN
easat-8725	282	16	)	)	PUNCT
easat-8725	282	17	may	may	AUX
easat-8725	282	18	suggest	suggest	VERB
easat-8725	282	19	that	that	SCONJ
easat-8725	282	20	while	while	SCONJ
easat-8725	282	21	higher	high	ADJ
easat-8725	282	22	trading	trading	NOUN
easat-8725	282	23	value	value	NOUN
easat-8725	282	24	typically	typically	ADV
easat-8725	282	25	reflects	reflect	VERB
easat-8725	282	26	increased	increase	VERB
easat-8725	282	27	activity	activity	NOUN
easat-8725	282	28	,	,	PUNCT
easat-8725	282	29	in	in	ADP
easat-8725	282	30	this	this	DET
easat-8725	282	31	context	context	NOUN
easat-8725	282	32	,	,	PUNCT
easat-8725	282	33	it	it	PRON
easat-8725	282	34	could	could	AUX
easat-8725	282	35	be	be	AUX
easat-8725	282	36	capturing	capture	VERB
easat-8725	282	37	speculative	speculative	ADJ
easat-8725	282	38	trading	trading	NOUN
easat-8725	282	39	or	or	CCONJ
easat-8725	282	40	market	market	NOUN
easat-8725	282	41	volatility	volatility	NOUN
easat-8725	282	42	effects	effect	NOUN
easat-8725	282	43	that	that	PRON
easat-8725	282	44	deter	deter	VERB
easat-8725	282	45	stable	stable	ADJ
easat-8725	282	46	foreign	foreign	ADJ
easat-8725	282	47	portfolio	portfolio	NOUN
easat-8725	282	48	investment	investment	NOUN
easat-8725	282	49	.	.	PUNCT
easat-8725	283	1	this	this	DET
easat-8725	283	2	phenomenon	phenomenon	NOUN
easat-8725	283	3	resonates	resonate	VERB
easat-8725	283	4	with	with	ADP
easat-8725	283	5	ozili	ozili	NOUN
easat-8725	283	6	[	[	X
easat-8725	283	7	7	7	NUM
easat-8725	283	8	]	]	X
easat-8725	283	9	findings	finding	NOUN
easat-8725	283	10	,	,	PUNCT
easat-8725	283	11	where	where	SCONJ
easat-8725	283	12	excessive	excessive	ADJ
easat-8725	283	13	trading	trading	NOUN
easat-8725	283	14	volume	volume	NOUN
easat-8725	283	15	was	be	AUX
easat-8725	283	16	associated	associate	VERB
easat-8725	283	17	with	with	ADP
easat-8725	283	18	increased	increase	VERB
easat-8725	283	19	market	market	NOUN
easat-8725	283	20	volatility	volatility	NOUN
easat-8725	283	21	,	,	PUNCT
easat-8725	283	22	negatively	negatively	ADV
easat-8725	283	23	affecting	affect	VERB
easat-8725	283	24	investor	investor	NOUN
easat-8725	283	25	confidence	confidence	NOUN
easat-8725	283	26	in	in	ADP
easat-8725	283	27	emerging	emerge	VERB
easat-8725	283	28	markets	market	NOUN
easat-8725	283	29	such	such	ADJ
easat-8725	283	30	as	as	ADP
easat-8725	283	31	nigeria	nigeria	PROPN
easat-8725	283	32	.	.	PUNCT
easat-8725	284	1	the	the	DET
easat-8725	284	2	exchange	exchange	NOUN
easat-8725	284	3	rate	rate	NOUN
easat-8725	284	4	(	(	PUNCT
easat-8725	284	5	exr	exr	PROPN
easat-8725	284	6	)	)	PUNCT
easat-8725	284	7	also	also	ADV
easat-8725	284	8	exhibited	exhibit	VERB
easat-8725	284	9	a	a	DET
easat-8725	284	10	positive	positive	ADJ
easat-8725	284	11	and	and	CCONJ
easat-8725	284	12	significant	significant	ADJ
easat-8725	284	13	effect	effect	NOUN
easat-8725	284	14	(	(	PUNCT
easat-8725	284	15	7.7809	7.7809	NUM
easat-8725	284	16	)	)	PUNCT
easat-8725	284	17	,	,	PUNCT
easat-8725	284	18	indicating	indicate	VERB
easat-8725	284	19	that	that	SCONJ
easat-8725	284	20	currency	currency	NOUN
easat-8725	284	21	fluctuations	fluctuation	NOUN
easat-8725	284	22	have	have	VERB
easat-8725	284	23	a	a	DET
easat-8725	284	24	measurable	measurable	ADJ
easat-8725	284	25	impact	impact	NOUN
easat-8725	284	26	on	on	ADP
easat-8725	284	27	foreign	foreign	ADJ
easat-8725	284	28	portfolio	portfolio	NOUN
easat-8725	284	29	investment	investment	NOUN
easat-8725	284	30	.	.	PUNCT
easat-8725	285	1	this	this	DET
easat-8725	285	2	result	result	NOUN
easat-8725	285	3	supports	support	VERB
easat-8725	285	4	ogudu	ogudu	NOUN
easat-8725	285	5	,	,	PUNCT
easat-8725	285	6	et	et	PROPN
easat-8725	285	7	al	al	PROPN
easat-8725	285	8	.	.	PUNCT
easat-8725	286	1	[	[	X
easat-8725	286	2	4	4	X
easat-8725	286	3	]	]	PUNCT
easat-8725	286	4	who	who	PRON
easat-8725	286	5	argued	argue	VERB
easat-8725	286	6	that	that	SCONJ
easat-8725	286	7	exchange	exchange	NOUN
easat-8725	286	8	rate	rate	NOUN
easat-8725	286	9	movements	movement	NOUN
easat-8725	286	10	influence	influence	VERB
easat-8725	286	11	foreign	foreign	ADJ
easat-8725	286	12	investors	investor	NOUN
easat-8725	286	13	'	'	PART
easat-8725	286	14	decisions	decision	NOUN
easat-8725	286	15	due	due	ADP
easat-8725	286	16	to	to	ADP
easat-8725	286	17	the	the	DET
easat-8725	286	18	risk	risk	NOUN
easat-8725	286	19	of	of	ADP
easat-8725	286	20	currency	currency	NOUN
easat-8725	286	21	depreciation	depreciation	NOUN
easat-8725	286	22	and	and	CCONJ
easat-8725	286	23	repatriation	repatriation	NOUN
easat-8725	286	24	constraints	constraint	NOUN
easat-8725	286	25	.	.	PUNCT
easat-8725	287	1	however	however	ADV
easat-8725	287	2	,	,	PUNCT
easat-8725	287	3	the	the	DET
easat-8725	287	4	relatively	relatively	ADV
easat-8725	287	5	lower	low	ADJ
easat-8725	287	6	significance	significance	NOUN
easat-8725	287	7	of	of	ADP
easat-8725	287	8	this	this	DET
easat-8725	287	9	variable	variable	NOUN
easat-8725	287	10	compared	compare	VERB
easat-8725	287	11	to	to	ADP
easat-8725	287	12	others	other	NOUN
easat-8725	287	13	suggests	suggest	VERB
easat-8725	287	14	that	that	SCONJ
easat-8725	287	15	while	while	SCONJ
easat-8725	287	16	important	important	ADJ
easat-8725	287	17	,	,	PUNCT
easat-8725	287	18	exchange	exchange	NOUN
easat-8725	287	19	rate	rate	NOUN
easat-8725	287	20	risk	risk	NOUN
easat-8725	287	21	may	may	AUX
easat-8725	287	22	be	be	AUX
easat-8725	287	23	moderated	moderate	VERB
easat-8725	287	24	by	by	ADP
easat-8725	287	25	other	other	ADJ
easat-8725	287	26	market	market	NOUN
easat-8725	287	27	factors	factor	NOUN
easat-8725	287	28	or	or	CCONJ
easat-8725	287	29	hedging	hedging	NOUN
easat-8725	287	30	mechanisms	mechanism	NOUN
easat-8725	287	31	.	.	PUNCT
easat-8725	288	1	the	the	DET
easat-8725	288	2	durbin	durbin	PROPN
easat-8725	288	3	-	-	PUNCT
easat-8725	288	4	watson	watson	NOUN
easat-8725	288	5	statistic	statistic	NOUN
easat-8725	288	6	of	of	ADP
easat-8725	288	7	2.2357	2.2357	NUM
easat-8725	288	8	confirms	confirm	VERB
easat-8725	288	9	the	the	DET
easat-8725	288	10	absence	absence	NOUN
easat-8725	288	11	of	of	ADP
easat-8725	288	12	significant	significant	ADJ
easat-8725	288	13	autocorrelation	autocorrelation	NOUN
easat-8725	288	14	in	in	ADP
easat-8725	288	15	the	the	DET
easat-8725	288	16	residuals	residual	NOUN
easat-8725	288	17	,	,	PUNCT
easat-8725	288	18	implying	imply	VERB
easat-8725	288	19	the	the	DET
easat-8725	288	20	reliability	reliability	NOUN
easat-8725	288	21	of	of	ADP
easat-8725	288	22	the	the	DET
easat-8725	288	23	regression	regression	NOUN
easat-8725	288	24	estimates	estimate	VERB
easat-8725	288	25	[	[	X
easat-8725	288	26	36	36	NUM
easat-8725	288	27	]	]	PUNCT
easat-8725	288	28	.	.	PUNCT
easat-8725	289	1	overall	overall	ADV
easat-8725	289	2	,	,	PUNCT
easat-8725	289	3	these	these	DET
easat-8725	289	4	results	result	NOUN
easat-8725	289	5	highlight	highlight	VERB
easat-8725	289	6	that	that	SCONJ
easat-8725	289	7	capital	capital	NOUN
easat-8725	289	8	market	market	NOUN
easat-8725	289	9	performance	performance	NOUN
easat-8725	289	10	metrics	metric	NOUN
easat-8725	289	11	,	,	PUNCT
easat-8725	289	12	particularly	particularly	ADV
easat-8725	289	13	market	market	NOUN
easat-8725	289	14	size	size	NOUN
easat-8725	289	15	,	,	PUNCT
easat-8725	289	16	liquidity	liquidity	NOUN
easat-8725	289	17	,	,	PUNCT
easat-8725	289	18	and	and	CCONJ
easat-8725	289	19	market	market	NOUN
easat-8725	289	20	returns	return	NOUN
easat-8725	289	21	,	,	PUNCT
easat-8725	289	22	play	play	VERB
easat-8725	289	23	pivotal	pivotal	ADJ
easat-8725	289	24	roles	role	NOUN
easat-8725	289	25	in	in	ADP
easat-8725	289	26	attracting	attract	VERB
easat-8725	289	27	foreign	foreign	ADJ
easat-8725	289	28	portfolio	portfolio	NOUN
easat-8725	289	29	investment	investment	NOUN
easat-8725	289	30	in	in	ADP
easat-8725	289	31	nigeria	nigeria	PROPN
easat-8725	289	32	,	,	PUNCT
easat-8725	289	33	consistent	consistent	ADJ
easat-8725	289	34	with	with	ADP
easat-8725	289	35	empirical	empirical	ADJ
easat-8725	289	36	evidence	evidence	NOUN
easat-8725	289	37	from	from	ADP
easat-8725	289	38	previous	previous	ADJ
easat-8725	289	39	studies	study	NOUN
easat-8725	289	40	5	5	NUM
easat-8725	289	41	.	.	PUNCT
easat-8725	290	1	conclusion	conclusion	NOUN
easat-8725	290	2	this	this	DET
easat-8725	290	3	study	study	NOUN
easat-8725	290	4	examined	examine	VERB
easat-8725	290	5	the	the	DET
easat-8725	290	6	relationship	relationship	NOUN
easat-8725	290	7	between	between	ADP
easat-8725	290	8	capital	capital	NOUN
easat-8725	290	9	market	market	NOUN
easat-8725	290	10	performance	performance	NOUN
easat-8725	290	11	and	and	CCONJ
easat-8725	290	12	foreign	foreign	ADJ
easat-8725	290	13	portfolio	portfolio	NOUN
easat-8725	290	14	investment	investment	NOUN
easat-8725	290	15	(	(	PUNCT
easat-8725	290	16	fpi	fpi	PROPN
easat-8725	290	17	)	)	PUNCT
easat-8725	290	18	in	in	ADP
easat-8725	290	19	nigeria	nigeria	PROPN
easat-8725	290	20	by	by	ADP
easat-8725	290	21	analyzing	analyze	VERB
easat-8725	290	22	key	key	ADJ
easat-8725	290	23	market	market	NOUN
easat-8725	290	24	indicators	indicator	NOUN
easat-8725	290	25	and	and	CCONJ
easat-8725	290	26	their	their	PRON
easat-8725	290	27	influence	influence	NOUN
easat-8725	290	28	on	on	ADP
easat-8725	290	29	fpi	fpi	PROPN
easat-8725	290	30	inflows	inflow	NOUN
easat-8725	290	31	.	.	PUNCT
easat-8725	291	1	the	the	DET
easat-8725	291	2	findings	finding	NOUN
easat-8725	291	3	revealed	reveal	VERB
easat-8725	291	4	a	a	DET
easat-8725	291	5	significant	significant	ADJ
easat-8725	291	6	positive	positive	ADJ
easat-8725	291	7	association	association	NOUN
easat-8725	291	8	between	between	ADP
easat-8725	291	9	the	the	DET
easat-8725	291	10	all	all	DET
easat-8725	291	11	share	share	NOUN
easat-8725	291	12	index	index	NOUN
easat-8725	291	13	(	(	PUNCT
easat-8725	291	14	asi	asi	NOUN
easat-8725	291	15	)	)	PUNCT
easat-8725	291	16	and	and	CCONJ
easat-8725	291	17	fpi	fpi	PROPN
easat-8725	291	18	,	,	PUNCT
easat-8725	291	19	supporting	support	VERB
easat-8725	291	20	the	the	DET
easat-8725	291	21	efficient	efficient	ADJ
easat-8725	291	22	market	market	NOUN
easat-8725	291	23	hypothesis	hypothesis	NOUN
easat-8725	291	24	,	,	PUNCT
easat-8725	291	25	which	which	PRON
easat-8725	291	26	suggests	suggest	VERB
easat-8725	291	27	that	that	SCONJ
easat-8725	291	28	rising	rise	VERB
easat-8725	291	29	stock	stock	NOUN
easat-8725	291	30	market	market	NOUN
easat-8725	291	31	performance	performance	NOUN
easat-8725	291	32	reflects	reflect	VERB
easat-8725	291	33	increased	increase	VERB
easat-8725	291	34	investor	investor	NOUN
easat-8725	291	35	confidence	confidence	NOUN
easat-8725	291	36	and	and	CCONJ
easat-8725	291	37	favorable	favorable	ADJ
easat-8725	291	38	economic	economic	ADJ
easat-8725	291	39	conditions	condition	NOUN
easat-8725	291	40	that	that	PRON
easat-8725	291	41	attract	attract	VERB
easat-8725	291	42	foreign	foreign	ADJ
easat-8725	291	43	investors	investor	NOUN
easat-8725	291	44	.	.	PUNCT
easat-8725	292	1	similarly	similarly	ADV
easat-8725	292	2	,	,	PUNCT
easat-8725	292	3	market	market	NOUN
easat-8725	292	4	capitalization	capitalization	NOUN
easat-8725	292	5	(	(	PUNCT
easat-8725	292	6	mcap	mcap	NOUN
easat-8725	292	7	)	)	PUNCT
easat-8725	292	8	demonstrated	demonstrate	VERB
easat-8725	292	9	a	a	DET
easat-8725	292	10	strong	strong	ADJ
easat-8725	292	11	positive	positive	ADJ
easat-8725	292	12	impact	impact	NOUN
easat-8725	292	13	on	on	ADP
easat-8725	292	14	fpi	fpi	PROPN
easat-8725	292	15	,	,	PUNCT
easat-8725	292	16	consistent	consistent	ADJ
easat-8725	292	17	with	with	ADP
easat-8725	292	18	the	the	DET
easat-8725	292	19	size	size	NOUN
easat-8725	292	20	effect	effect	NOUN
easat-8725	292	21	theory	theory	NOUN
easat-8725	292	22	that	that	SCONJ
easat-8725	292	23	larger	large	ADJ
easat-8725	292	24	firms	firm	NOUN
easat-8725	292	25	with	with	ADP
easat-8725	292	26	greater	great	ADJ
easat-8725	292	27	market	market	NOUN
easat-8725	292	28	value	value	NOUN
easat-8725	292	29	tend	tend	VERB
easat-8725	292	30	to	to	PART
easat-8725	292	31	command	command	VERB
easat-8725	292	32	more	more	ADJ
easat-8725	292	33	foreign	foreign	ADJ
easat-8725	292	34	investment	investment	NOUN
easat-8725	292	35	due	due	ADP
easat-8725	292	36	to	to	ADP
easat-8725	292	37	their	their	PRON
easat-8725	292	38	perceived	perceive	VERB
easat-8725	292	39	stability	stability	NOUN
easat-8725	292	40	and	and	CCONJ
easat-8725	292	41	growth	growth	NOUN
easat-8725	292	42	potential	potential	NOUN
easat-8725	292	43	.	.	PUNCT
easat-8725	293	1	additionally	additionally	ADV
easat-8725	293	2	,	,	PUNCT
easat-8725	293	3	trading	trading	NOUN
easat-8725	293	4	activity	activity	NOUN
easat-8725	293	5	indicators	indicator	NOUN
easat-8725	293	6	such	such	ADJ
easat-8725	293	7	as	as	ADP
easat-8725	293	8	the	the	DET
easat-8725	293	9	volume	volume	NOUN
easat-8725	293	10	of	of	ADP
easat-8725	293	11	trade	trade	NOUN
easat-8725	293	12	(	(	PUNCT
easat-8725	293	13	vot	vot	PROPN
easat-8725	293	14	)	)	PUNCT
easat-8725	293	15	and	and	CCONJ
easat-8725	293	16	the	the	DET
easat-8725	293	17	value	value	NOUN
easat-8725	293	18	of	of	ADP
easat-8725	293	19	shares	share	NOUN
easat-8725	293	20	traded	trade	VERB
easat-8725	293	21	(	(	PUNCT
easat-8725	293	22	vst	vst	NOUN
easat-8725	293	23	)	)	PUNCT
easat-8725	293	24	showed	show	VERB
easat-8725	293	25	contrasting	contrasting	ADJ
easat-8725	293	26	effects	effect	NOUN
easat-8725	293	27	on	on	ADP
easat-8725	293	28	fpi	fpi	PROPN
easat-8725	293	29	.	.	PUNCT
easat-8725	294	1	while	while	SCONJ
easat-8725	294	2	an	an	DET
easat-8725	294	3	increase	increase	NOUN
easat-8725	294	4	in	in	ADP
easat-8725	294	5	vot	vot	NOUN
easat-8725	294	6	positively	positively	ADV
easat-8725	294	7	influenced	influence	VERB
easat-8725	294	8	fpi	fpi	PROPN
easat-8725	294	9	,	,	PUNCT
easat-8725	294	10	indicating	indicate	VERB
easat-8725	294	11	that	that	SCONJ
easat-8725	294	12	higher	high	ADJ
easat-8725	294	13	market	market	NOUN
easat-8725	294	14	liquidity	liquidity	NOUN
easat-8725	294	15	and	and	CCONJ
easat-8725	294	16	trading	trading	NOUN
easat-8725	294	17	opportunities	opportunity	NOUN
easat-8725	294	18	attract	attract	VERB
easat-8725	294	19	foreign	foreign	ADJ
easat-8725	294	20	investors	investor	NOUN
easat-8725	294	21	,	,	PUNCT
easat-8725	294	22	the	the	DET
easat-8725	294	23	negative	negative	ADJ
easat-8725	294	24	coefficient	coefficient	NOUN
easat-8725	294	25	on	on	ADP
easat-8725	294	26	vst	vst	PROPN
easat-8725	294	27	suggests	suggest	VERB
easat-8725	294	28	that	that	SCONJ
easat-8725	294	29	excessive	excessive	ADJ
easat-8725	294	30	trading	trading	NOUN
easat-8725	294	31	values	value	NOUN
easat-8725	294	32	might	might	AUX
easat-8725	294	33	reflect	reflect	VERB
easat-8725	294	34	speculative	speculative	ADJ
easat-8725	294	35	behavior	behavior	NOUN
easat-8725	294	36	or	or	CCONJ
easat-8725	294	37	market	market	NOUN
easat-8725	294	38	volatility	volatility	NOUN
easat-8725	294	39	that	that	PRON
easat-8725	294	40	could	could	AUX
easat-8725	294	41	deter	deter	VERB
easat-8725	294	42	stable	stable	ADJ
easat-8725	294	43	foreign	foreign	ADJ
easat-8725	294	44	capital	capital	NOUN
easat-8725	294	45	.	.	PUNCT
easat-8725	295	1	furthermore	furthermore	ADV
easat-8725	295	2	,	,	PUNCT
easat-8725	295	3	exchange	exchange	NOUN
easat-8725	295	4	rate	rate	NOUN
easat-8725	295	5	(	(	PUNCT
easat-8725	295	6	exr	exr	PROPN
easat-8725	295	7	)	)	PUNCT
easat-8725	295	8	fluctuations	fluctuation	NOUN
easat-8725	295	9	were	be	AUX
easat-8725	295	10	found	find	VERB
easat-8725	295	11	to	to	PART
easat-8725	295	12	significantly	significantly	ADV
easat-8725	295	13	affect	affect	VERB
easat-8725	295	14	fpi	fpi	PROPN
easat-8725	295	15	,	,	PUNCT
easat-8725	295	16	where	where	SCONJ
easat-8725	295	17	favorable	favorable	ADJ
easat-8725	295	18	exchange	exchange	NOUN
easat-8725	295	19	rate	rate	NOUN
easat-8725	295	20	conditions	condition	NOUN
easat-8725	295	21	enhance	enhance	VERB
easat-8725	295	22	the	the	DET
easat-8725	295	23	competitiveness	competitiveness	NOUN
easat-8725	295	24	of	of	ADP
easat-8725	295	25	nigerian	nigerian	ADJ
easat-8725	295	26	assets	asset	NOUN
easat-8725	295	27	and	and	CCONJ
easat-8725	295	28	facilitate	facilitate	VERB
easat-8725	295	29	capital	capital	NOUN
easat-8725	295	30	inflows	inflow	NOUN
easat-8725	295	31	,	,	PUNCT
easat-8725	295	32	although	although	SCONJ
easat-8725	295	33	this	this	DET
easat-8725	295	34	effect	effect	NOUN
easat-8725	295	35	was	be	AUX
easat-8725	295	36	somewhat	somewhat	ADV
easat-8725	295	37	less	less	ADV
easat-8725	295	38	pronounced	pronounced	ADJ
easat-8725	295	39	compared	compare	VERB
easat-8725	295	40	to	to	ADP
easat-8725	295	41	other	other	ADJ
easat-8725	295	42	variables	variable	NOUN
easat-8725	295	43	.	.	PUNCT
easat-8725	296	1	overall	overall	ADV
easat-8725	296	2	,	,	PUNCT
easat-8725	296	3	the	the	DET
easat-8725	296	4	study	study	NOUN
easat-8725	296	5	concludes	conclude	VERB
easat-8725	296	6	that	that	SCONJ
easat-8725	296	7	capital	capital	NOUN
easat-8725	296	8	market	market	NOUN
easat-8725	296	9	strength	strength	NOUN
easat-8725	296	10	and	and	CCONJ
easat-8725	296	11	stability	stability	NOUN
easat-8725	296	12	characterized	characterize	VERB
easat-8725	296	13	by	by	ADP
easat-8725	296	14	robust	robust	ADJ
easat-8725	296	15	market	market	NOUN
easat-8725	296	16	indices	index	NOUN
easat-8725	296	17	,	,	PUNCT
easat-8725	296	18	significant	significant	ADJ
easat-8725	296	19	market	market	NOUN
easat-8725	296	20	capitalization	capitalization	NOUN
easat-8725	296	21	,	,	PUNCT
easat-8725	296	22	active	active	ADJ
easat-8725	296	23	trading	trading	NOUN
easat-8725	296	24	,	,	PUNCT
easat-8725	296	25	and	and	CCONJ
easat-8725	296	26	stable	stable	ADJ
easat-8725	296	27	currency	currency	NOUN
easat-8725	296	28	conditions	condition	NOUN
easat-8725	296	29	—	—	PUNCT
easat-8725	296	30	play	play	VERB
easat-8725	296	31	critical	critical	ADJ
easat-8725	296	32	roles	role	NOUN
easat-8725	296	33	in	in	ADP
easat-8725	296	34	attracting	attract	VERB
easat-8725	296	35	foreign	foreign	ADJ
easat-8725	296	36	portfolio	portfolio	NOUN
easat-8725	296	37	investment	investment	NOUN
easat-8725	296	38	to	to	ADP
easat-8725	296	39	nigeria	nigeria	PROPN
easat-8725	296	40	.	.	PUNCT
easat-8725	297	1	these	these	DET
easat-8725	297	2	insights	insight	NOUN
easat-8725	297	3	have	have	VERB
easat-8725	297	4	important	important	ADJ
easat-8725	297	5	implications	implication	NOUN
easat-8725	297	6	for	for	ADP
easat-8725	297	7	policymakers	policymaker	NOUN
easat-8725	297	8	and	and	CCONJ
easat-8725	297	9	market	market	NOUN
easat-8725	297	10	participants	participant	NOUN
easat-8725	297	11	,	,	PUNCT
easat-8725	297	12	emphasizing	emphasize	VERB
easat-8725	297	13	the	the	DET
easat-8725	297	14	need	need	NOUN
easat-8725	297	15	to	to	PART
easat-8725	297	16	foster	foster	VERB
easat-8725	297	17	a	a	DET
easat-8725	297	18	conducive	conducive	ADJ
easat-8725	297	19	777	777	NUM
easat-8725	297	20	edelweiss	edelweiss	PROPN
easat-8725	297	21	applied	apply	VERB
easat-8725	297	22	science	science	NOUN
easat-8725	297	23	and	and	CCONJ
easat-8725	297	24	technology	technology	NOUN
easat-8725	297	25	issn	issn	PROPN
easat-8725	297	26	:	:	PUNCT
easat-8725	297	27	2576	2576	NUM
easat-8725	297	28	-	-	SYM
easat-8725	297	29	8484	8484	NUM
easat-8725	297	30	vol	vol	NOUN
easat-8725	297	31	.	.	PROPN
easat-8725	298	1	9	9	NUM
easat-8725	298	2	,	,	PUNCT
easat-8725	298	3	no	no	INTJ
easat-8725	298	4	.	.	NOUN
easat-8725	298	5	7	7	NUM
easat-8725	298	6	:	:	PUNCT
easat-8725	298	7	767	767	NUM
easat-8725	298	8	-	-	SYM
easat-8725	298	9	779	779	NUM
easat-8725	298	10	,	,	PUNCT
easat-8725	298	11	2025	2025	NUM
easat-8725	298	12	doi	doi	NOUN
easat-8725	298	13	:	:	PUNCT
easat-8725	298	14	10.55214/25768484.v9i7.8725	10.55214/25768484.v9i7.8725	NUM
easat-8725	298	15	©	©	PROPN
easat-8725	298	16	2025	2025	NUM
easat-8725	298	17	by	by	ADP
easat-8725	298	18	the	the	DET
easat-8725	298	19	authors	author	NOUN
easat-8725	298	20	;	;	PUNCT
easat-8725	298	21	licensee	licensee	PROPN
easat-8725	298	22	learning	learn	VERB
easat-8725	298	23	gate	gate	PROPN
easat-8725	298	24	investment	investment	NOUN
easat-8725	298	25	climate	climate	NOUN
easat-8725	298	26	by	by	ADP
easat-8725	298	27	strengthening	strengthen	VERB
easat-8725	298	28	market	market	NOUN
easat-8725	298	29	infrastructure	infrastructure	NOUN
easat-8725	298	30	,	,	PUNCT
easat-8725	298	31	ensuring	ensure	VERB
easat-8725	298	32	liquidity	liquidity	NOUN
easat-8725	298	33	,	,	PUNCT
easat-8725	298	34	and	and	CCONJ
easat-8725	298	35	maintaining	maintain	VERB
easat-8725	298	36	exchange	exchange	NOUN
easat-8725	298	37	rate	rate	NOUN
easat-8725	298	38	stability	stability	NOUN
easat-8725	298	39	to	to	PART
easat-8725	298	40	boost	boost	VERB
easat-8725	298	41	foreign	foreign	ADJ
easat-8725	298	42	investor	investor	NOUN
easat-8725	298	43	confidence	confidence	NOUN
easat-8725	298	44	and	and	CCONJ
easat-8725	298	45	promote	promote	VERB
easat-8725	298	46	sustainable	sustainable	ADJ
easat-8725	298	47	economic	economic	ADJ
easat-8725	298	48	growth	growth	NOUN
easat-8725	298	49	.	.	PUNCT
easat-8725	299	1	6	6	X
easat-8725	299	2	.	.	X
easat-8725	299	3	recommendations	recommendation	NOUN
easat-8725	299	4	in	in	ADP
easat-8725	299	5	light	light	NOUN
easat-8725	299	6	of	of	ADP
easat-8725	299	7	these	these	DET
easat-8725	299	8	findings	finding	NOUN
easat-8725	299	9	,	,	PUNCT
easat-8725	299	10	several	several	ADJ
easat-8725	299	11	key	key	ADJ
easat-8725	299	12	recommendations	recommendation	NOUN
easat-8725	299	13	are	be	AUX
easat-8725	299	14	proposed	propose	VERB
easat-8725	299	15	to	to	PART
easat-8725	299	16	enhance	enhance	VERB
easat-8725	299	17	nigeria	nigeria	PROPN
easat-8725	299	18	’s	’s	PART
easat-8725	299	19	attractiveness	attractiveness	NOUN
easat-8725	299	20	to	to	ADP
easat-8725	299	21	foreign	foreign	ADJ
easat-8725	299	22	portfolio	portfolio	NOUN
easat-8725	299	23	investors	investor	NOUN
easat-8725	299	24	.	.	PUNCT
easat-8725	300	1	first	first	ADV
easat-8725	300	2	,	,	PUNCT
easat-8725	300	3	regulatory	regulatory	ADJ
easat-8725	300	4	frameworks	framework	NOUN
easat-8725	300	5	should	should	AUX
easat-8725	300	6	be	be	AUX
easat-8725	300	7	strengthened	strengthen	VERB
easat-8725	300	8	and	and	CCONJ
easat-8725	300	9	effectively	effectively	ADV
easat-8725	300	10	implemented	implement	VERB
easat-8725	300	11	to	to	PART
easat-8725	300	12	guarantee	guarantee	VERB
easat-8725	300	13	transparency	transparency	NOUN
easat-8725	300	14	,	,	PUNCT
easat-8725	300	15	fairness	fairness	NOUN
easat-8725	300	16	,	,	PUNCT
easat-8725	300	17	and	and	CCONJ
easat-8725	300	18	investor	investor	NOUN
easat-8725	300	19	protection	protection	NOUN
easat-8725	300	20	.	.	PUNCT
easat-8725	301	1	clear	clear	ADJ
easat-8725	301	2	and	and	CCONJ
easat-8725	301	3	consistent	consistent	ADJ
easat-8725	301	4	market	market	NOUN
easat-8725	301	5	regulations	regulation	NOUN
easat-8725	301	6	build	build	VERB
easat-8725	301	7	trust	trust	NOUN
easat-8725	301	8	among	among	ADP
easat-8725	301	9	international	international	ADJ
easat-8725	301	10	investors	investor	NOUN
easat-8725	301	11	and	and	CCONJ
easat-8725	301	12	reduce	reduce	VERB
easat-8725	301	13	perceived	perceive	VERB
easat-8725	301	14	risks	risk	NOUN
easat-8725	301	15	,	,	PUNCT
easat-8725	301	16	thereby	thereby	ADV
easat-8725	301	17	encouraging	encourage	VERB
easat-8725	301	18	capital	capital	NOUN
easat-8725	301	19	inflows	inflow	NOUN
easat-8725	301	20	.	.	PUNCT
easat-8725	302	1	second	second	ADJ
easat-8725	302	2	,	,	PUNCT
easat-8725	302	3	market	market	NOUN
easat-8725	302	4	liquidity	liquidity	NOUN
easat-8725	302	5	should	should	AUX
easat-8725	302	6	be	be	AUX
easat-8725	302	7	improved	improve	VERB
easat-8725	302	8	by	by	ADP
easat-8725	302	9	lowering	lower	VERB
easat-8725	302	10	transaction	transaction	NOUN
easat-8725	302	11	costs	cost	NOUN
easat-8725	302	12	,	,	PUNCT
easat-8725	302	13	upgrading	upgrade	VERB
easat-8725	302	14	trading	trading	NOUN
easat-8725	302	15	infrastructure	infrastructure	NOUN
easat-8725	302	16	,	,	PUNCT
easat-8725	302	17	and	and	CCONJ
easat-8725	302	18	incentivizing	incentivize	VERB
easat-8725	302	19	market	market	NOUN
easat-8725	302	20	-	-	PUNCT
easat-8725	302	21	making	make	VERB
easat-8725	302	22	activities	activity	NOUN
easat-8725	302	23	,	,	PUNCT
easat-8725	302	24	which	which	PRON
easat-8725	302	25	facilitate	facilitate	VERB
easat-8725	302	26	efficient	efficient	ADJ
easat-8725	302	27	price	price	NOUN
easat-8725	302	28	discovery	discovery	NOUN
easat-8725	302	29	and	and	CCONJ
easat-8725	302	30	smooth	smooth	ADJ
easat-8725	302	31	trading	trading	NOUN
easat-8725	302	32	.	.	PUNCT
easat-8725	303	1	third	third	ADJ
easat-8725	303	2	,	,	PUNCT
easat-8725	303	3	investor	investor	NOUN
easat-8725	303	4	education	education	NOUN
easat-8725	303	5	programs	program	NOUN
easat-8725	303	6	are	be	AUX
easat-8725	303	7	essential	essential	ADJ
easat-8725	303	8	to	to	PART
easat-8725	303	9	raise	raise	VERB
easat-8725	303	10	financial	financial	ADJ
easat-8725	303	11	literacy	literacy	NOUN
easat-8725	303	12	and	and	CCONJ
easat-8725	303	13	awareness	awareness	NOUN
easat-8725	303	14	about	about	ADP
easat-8725	303	15	the	the	DET
easat-8725	303	16	nigerian	nigerian	ADJ
easat-8725	303	17	capital	capital	NOUN
easat-8725	303	18	market	market	NOUN
easat-8725	303	19	.	.	PUNCT
easat-8725	304	1	educated	educate	VERB
easat-8725	304	2	investors	investor	NOUN
easat-8725	304	3	are	be	AUX
easat-8725	304	4	more	more	ADV
easat-8725	304	5	likely	likely	ADJ
easat-8725	304	6	to	to	PART
easat-8725	304	7	participate	participate	VERB
easat-8725	304	8	actively	actively	ADV
easat-8725	304	9	and	and	CCONJ
easat-8725	304	10	make	make	VERB
easat-8725	304	11	informed	informed	ADJ
easat-8725	304	12	decisions	decision	NOUN
easat-8725	304	13	,	,	PUNCT
easat-8725	304	14	which	which	PRON
easat-8725	304	15	in	in	ADP
easat-8725	304	16	turn	turn	NOUN
easat-8725	304	17	attracts	attract	VERB
easat-8725	304	18	foreign	foreign	ADJ
easat-8725	304	19	investors	investor	NOUN
easat-8725	304	20	seeking	seek	VERB
easat-8725	304	21	reliable	reliable	ADJ
easat-8725	304	22	local	local	ADJ
easat-8725	304	23	market	market	NOUN
easat-8725	304	24	partners	partner	NOUN
easat-8725	304	25	.	.	PUNCT
easat-8725	305	1	fourth	fourth	ADJ
easat-8725	305	2	,	,	PUNCT
easat-8725	305	3	market	market	NOUN
easat-8725	305	4	surveillance	surveillance	NOUN
easat-8725	305	5	mechanisms	mechanism	NOUN
easat-8725	305	6	must	must	AUX
easat-8725	305	7	be	be	AUX
easat-8725	305	8	reinforced	reinforce	VERB
easat-8725	305	9	to	to	PART
easat-8725	305	10	detect	detect	VERB
easat-8725	305	11	and	and	CCONJ
easat-8725	305	12	prevent	prevent	VERB
easat-8725	305	13	market	market	NOUN
easat-8725	305	14	manipulation	manipulation	NOUN
easat-8725	305	15	and	and	CCONJ
easat-8725	305	16	insider	insider	NOUN
easat-8725	305	17	trading	trading	NOUN
easat-8725	305	18	,	,	PUNCT
easat-8725	305	19	promoting	promote	VERB
easat-8725	305	20	fair	fair	ADJ
easat-8725	305	21	and	and	CCONJ
easat-8725	305	22	transparent	transparent	ADJ
easat-8725	305	23	trading	trading	NOUN
easat-8725	305	24	conditions	condition	NOUN
easat-8725	305	25	that	that	PRON
easat-8725	305	26	sustain	sustain	VERB
easat-8725	305	27	investor	investor	NOUN
easat-8725	305	28	confidence	confidence	NOUN
easat-8725	305	29	.	.	PUNCT
easat-8725	306	1	fifth	fifth	ADJ
easat-8725	306	2	,	,	PUNCT
easat-8725	306	3	promoting	promote	VERB
easat-8725	306	4	cross	cross	NOUN
easat-8725	306	5	-	-	ADJ
easat-8725	306	6	listing	listing	NOUN
easat-8725	306	7	of	of	ADP
easat-8725	306	8	nigerian	nigerian	ADJ
easat-8725	306	9	firms	firm	NOUN
easat-8725	306	10	on	on	ADP
easat-8725	306	11	international	international	ADJ
easat-8725	306	12	exchanges	exchange	NOUN
easat-8725	306	13	can	can	AUX
easat-8725	306	14	increase	increase	VERB
easat-8725	306	15	market	market	NOUN
easat-8725	306	16	visibility	visibility	NOUN
easat-8725	306	17	,	,	PUNCT
easat-8725	306	18	liquidity	liquidity	NOUN
easat-8725	306	19	,	,	PUNCT
easat-8725	306	20	and	and	CCONJ
easat-8725	306	21	diversification	diversification	NOUN
easat-8725	306	22	of	of	ADP
easat-8725	306	23	the	the	DET
easat-8725	306	24	investor	investor	NOUN
easat-8725	306	25	base	base	NOUN
easat-8725	306	26	,	,	PUNCT
easat-8725	306	27	providing	provide	VERB
easat-8725	306	28	easier	easy	ADJ
easat-8725	306	29	access	access	NOUN
easat-8725	306	30	for	for	ADP
easat-8725	306	31	foreign	foreign	ADJ
easat-8725	306	32	portfolio	portfolio	NOUN
easat-8725	306	33	investors	investor	NOUN
easat-8725	306	34	.	.	PUNCT
easat-8725	307	1	finally	finally	ADV
easat-8725	307	2	,	,	PUNCT
easat-8725	307	3	collaboration	collaboration	NOUN
easat-8725	307	4	between	between	ADP
easat-8725	307	5	capital	capital	NOUN
easat-8725	307	6	market	market	NOUN
easat-8725	307	7	regulators	regulator	NOUN
easat-8725	307	8	and	and	CCONJ
easat-8725	307	9	monetary	monetary	ADJ
easat-8725	307	10	authorities	authority	NOUN
easat-8725	307	11	is	be	AUX
easat-8725	307	12	crucial	crucial	ADJ
easat-8725	307	13	to	to	PART
easat-8725	307	14	maintain	maintain	VERB
easat-8725	307	15	stable	stable	ADJ
easat-8725	307	16	exchange	exchange	NOUN
easat-8725	307	17	rates	rate	NOUN
easat-8725	307	18	and	and	CCONJ
easat-8725	307	19	implement	implement	VERB
easat-8725	307	20	efficient	efficient	ADJ
easat-8725	307	21	foreign	foreign	ADJ
easat-8725	307	22	exchange	exchange	NOUN
easat-8725	307	23	policies	policy	NOUN
easat-8725	307	24	.	.	PUNCT
easat-8725	308	1	exchange	exchange	NOUN
easat-8725	308	2	rate	rate	NOUN
easat-8725	308	3	stability	stability	NOUN
easat-8725	308	4	reduces	reduce	VERB
easat-8725	308	5	currency	currency	NOUN
easat-8725	308	6	risk	risk	NOUN
easat-8725	308	7	,	,	PUNCT
easat-8725	308	8	enhances	enhance	VERB
easat-8725	308	9	asset	asset	NOUN
easat-8725	308	10	competitiveness	competitiveness	NOUN
easat-8725	308	11	,	,	PUNCT
easat-8725	308	12	and	and	CCONJ
easat-8725	308	13	makes	make	VERB
easat-8725	308	14	nigeria	nigeria	PRON
easat-8725	308	15	more	more	ADV
easat-8725	308	16	appealing	appealing	ADJ
easat-8725	308	17	for	for	ADP
easat-8725	308	18	foreign	foreign	ADJ
easat-8725	308	19	portfolio	portfolio	NOUN
easat-8725	308	20	investment	investment	NOUN
easat-8725	308	21	.	.	PUNCT
easat-8725	309	1	transparency	transparency	NOUN
easat-8725	309	2	:	:	PUNCT
easat-8725	309	3	the	the	DET
easat-8725	309	4	authors	author	NOUN
easat-8725	309	5	confirm	confirm	VERB
easat-8725	309	6	that	that	SCONJ
easat-8725	309	7	the	the	DET
easat-8725	309	8	manuscript	manuscript	NOUN
easat-8725	309	9	is	be	AUX
easat-8725	309	10	an	an	DET
easat-8725	309	11	honest	honest	ADJ
easat-8725	309	12	,	,	PUNCT
easat-8725	309	13	accurate	accurate	ADJ
easat-8725	309	14	,	,	PUNCT
easat-8725	309	15	and	and	CCONJ
easat-8725	309	16	transparent	transparent	ADJ
easat-8725	309	17	account	account	NOUN
easat-8725	309	18	of	of	ADP
easat-8725	309	19	the	the	DET
easat-8725	309	20	study	study	NOUN
easat-8725	309	21	;	;	PUNCT
easat-8725	309	22	that	that	SCONJ
easat-8725	309	23	no	no	DET
easat-8725	309	24	vital	vital	ADJ
easat-8725	309	25	features	feature	NOUN
easat-8725	309	26	of	of	ADP
easat-8725	309	27	the	the	DET
easat-8725	309	28	study	study	NOUN
easat-8725	309	29	have	have	AUX
easat-8725	309	30	been	be	AUX
easat-8725	309	31	omitted	omit	VERB
easat-8725	309	32	;	;	PUNCT
easat-8725	309	33	and	and	CCONJ
easat-8725	309	34	that	that	SCONJ
easat-8725	309	35	any	any	DET
easat-8725	309	36	discrepancies	discrepancy	NOUN
easat-8725	309	37	from	from	ADP
easat-8725	309	38	the	the	DET
easat-8725	309	39	study	study	NOUN
easat-8725	309	40	as	as	SCONJ
easat-8725	309	41	planned	plan	VERB
easat-8725	309	42	have	have	AUX
easat-8725	309	43	been	be	AUX
easat-8725	309	44	explained	explain	VERB
easat-8725	309	45	.	.	PUNCT
easat-8725	310	1	this	this	DET
easat-8725	310	2	study	study	NOUN
easat-8725	310	3	followed	follow	VERB
easat-8725	310	4	all	all	DET
easat-8725	310	5	ethical	ethical	ADJ
easat-8725	310	6	practices	practice	NOUN
easat-8725	310	7	during	during	ADP
easat-8725	310	8	writing	writing	NOUN
easat-8725	310	9	.	.	PUNCT
easat-8725	311	1	copyright	copyright	NOUN
easat-8725	311	2	:	:	PUNCT
easat-8725	311	3	©	©	PROPN
easat-8725	311	4	2025	2025	NUM
easat-8725	311	5	by	by	ADP
easat-8725	311	6	the	the	DET
easat-8725	311	7	authors	author	NOUN
easat-8725	311	8	.	.	PUNCT
easat-8725	312	1	this	this	DET
easat-8725	312	2	open	open	ADJ
easat-8725	312	3	-	-	PUNCT
easat-8725	312	4	access	access	NOUN
easat-8725	312	5	article	article	NOUN
easat-8725	312	6	is	be	AUX
easat-8725	312	7	distributed	distribute	VERB
easat-8725	312	8	under	under	ADP
easat-8725	312	9	the	the	DET
easat-8725	312	10	terms	term	NOUN
easat-8725	312	11	and	and	CCONJ
easat-8725	312	12	conditions	condition	NOUN
easat-8725	312	13	of	of	ADP
easat-8725	312	14	the	the	DET
easat-8725	312	15	creative	creative	ADJ
easat-8725	312	16	commons	common	NOUN
easat-8725	312	17	attribution	attribution	NOUN
easat-8725	312	18	(	(	PUNCT
easat-8725	312	19	cc	cc	NOUN
easat-8725	312	20	by	by	ADP
easat-8725	312	21	)	)	PUNCT
easat-8725	312	22	license	license	NOUN
easat-8725	312	23	(	(	PUNCT
easat-8725	312	24	https://creativecommons.org/licenses/by/4.0/	https://creativecommons.org/licenses/by/4.0/	PROPN
easat-8725	312	25	)	)	PUNCT
easat-8725	312	26	.	.	PUNCT
easat-8725	313	1	references	reference	NOUN
easat-8725	313	2	[	[	X
easat-8725	313	3	1	1	NUM
easat-8725	313	4	]	]	PUNCT
easat-8725	313	5	p.	p.	NOUN
easat-8725	313	6	adumah	adumah	PROPN
easat-8725	313	7	,	,	PUNCT
easat-8725	313	8	u.	u.	PROPN
easat-8725	313	9	n.	n.	PROPN
easat-8725	313	10	anyanwu	anyanwu	PROPN
easat-8725	313	11	,	,	PUNCT
easat-8725	313	12	and	and	CCONJ
easat-8725	313	13	m.	m.	NOUN
easat-8725	313	14	nwokoye	nwokoye	PROPN
easat-8725	313	15	,	,	PUNCT
easat-8725	313	16	"	"	PUNCT
easat-8725	313	17	foreign	foreign	ADJ
easat-8725	313	18	portfolio	portfolio	NOUN
easat-8725	313	19	investment	investment	NOUN
easat-8725	313	20	and	and	CCONJ
easat-8725	313	21	capital	capital	NOUN
easat-8725	313	22	market	market	NOUN
easat-8725	313	23	development	development	NOUN
easat-8725	313	24	in	in	ADP
easat-8725	313	25	nigeria	nigeria	PROPN
easat-8725	313	26	,	,	PUNCT
easat-8725	313	27	"	"	PUNCT
easat-8725	313	28	african	african	ADJ
easat-8725	313	29	journal	journal	NOUN
easat-8725	313	30	of	of	ADP
easat-8725	313	31	management	management	NOUN
easat-8725	313	32	and	and	CCONJ
easat-8725	313	33	business	business	NOUN
easat-8725	313	34	research	research	NOUN
easat-8725	313	35	,	,	PUNCT
easat-8725	313	36	vol	vol	NOUN
easat-8725	313	37	.	.	PROPN
easat-8725	313	38	17	17	NUM
easat-8725	313	39	,	,	PUNCT
easat-8725	313	40	no	no	INTJ
easat-8725	313	41	.	.	NOUN
easat-8725	313	42	1	1	NUM
easat-8725	313	43	,	,	PUNCT
easat-8725	313	44	pp	pp	ADJ
easat-8725	313	45	.	.	PUNCT
easat-8725	314	1	1	1	NUM
easat-8725	314	2	-	-	SYM
easat-8725	314	3	17	17	NUM
easat-8725	314	4	,	,	PUNCT
easat-8725	314	5	2024	2024	NUM
easat-8725	314	6	.	.	PUNCT
easat-8725	315	1	[	[	X
easat-8725	315	2	2	2	NUM
easat-8725	315	3	]	]	PUNCT
easat-8725	315	4	c.	c.	PROPN
easat-8725	315	5	g.	g.	PROPN
easat-8725	315	6	okafor	okafor	PROPN
easat-8725	315	7	,	,	PUNCT
easat-8725	315	8	e.	e.	PROPN
easat-8725	315	9	s.	s.	PROPN
easat-8725	315	10	nwokoye	nwokoye	PROPN
easat-8725	315	11	,	,	PUNCT
easat-8725	315	12	and	and	CCONJ
easat-8725	315	13	a.	a.	NOUN
easat-8725	315	14	g.	g.	PROPN
easat-8725	315	15	metu	metu	PROPN
easat-8725	315	16	,	,	PUNCT
easat-8725	315	17	"	"	PUNCT
easat-8725	315	18	foreign	foreign	ADJ
easat-8725	315	19	investments	investment	NOUN
easat-8725	315	20	and	and	CCONJ
easat-8725	315	21	market	market	NOUN
easat-8725	315	22	capitalization	capitalization	NOUN
easat-8725	315	23	in	in	ADP
easat-8725	315	24	nigeria	nigeria	PROPN
easat-8725	315	25	:	:	PUNCT
easat-8725	315	26	a	a	DET
easat-8725	315	27	vecm	vecm	NOUN
easat-8725	315	28	analysis	analysis	VERB
easat-8725	315	29	,	,	PUNCT
easat-8725	315	30	"	"	PUNCT
easat-8725	315	31	south	south	ADJ
easat-8725	315	32	asian	asian	ADJ
easat-8725	315	33	journal	journal	NOUN
easat-8725	315	34	of	of	ADP
easat-8725	315	35	social	social	ADJ
easat-8725	315	36	studies	study	NOUN
easat-8725	315	37	and	and	CCONJ
easat-8725	315	38	economics	economic	NOUN
easat-8725	315	39	,	,	PUNCT
easat-8725	315	40	vol	vol	NOUN
easat-8725	315	41	.	.	PROPN
easat-8725	315	42	22	22	NUM
easat-8725	315	43	,	,	PUNCT
easat-8725	315	44	no	no	INTJ
easat-8725	315	45	.	.	NOUN
easat-8725	315	46	2	2	NUM
easat-8725	315	47	,	,	PUNCT
easat-8725	315	48	pp	pp	ADJ
easat-8725	315	49	.	.	PUNCT
easat-8725	316	1	35	35	NUM
easat-8725	316	2	-	-	SYM
easat-8725	316	3	47	47	NUM
easat-8725	316	4	,	,	PUNCT
easat-8725	316	5	2025	2025	NUM
easat-8725	316	6	.	.	PUNCT
easat-8725	317	1	[	[	X
easat-8725	317	2	3	3	X
easat-8725	317	3	]	]	X
easat-8725	317	4	g.	g.	PROPN
easat-8725	317	5	p.	p.	PROPN
easat-8725	317	6	eze	eze	PROPN
easat-8725	317	7	and	and	CCONJ
easat-8725	317	8	e.	e.	PROPN
easat-8725	317	9	timipere	timipere	PROPN
easat-8725	317	10	,	,	PUNCT
easat-8725	317	11	"	"	PUNCT
easat-8725	317	12	foreign	foreign	ADJ
easat-8725	317	13	direct	direct	ADJ
easat-8725	317	14	investment	investment	NOUN
easat-8725	317	15	and	and	CCONJ
easat-8725	317	16	stock	stock	NOUN
easat-8725	317	17	market	market	NOUN
easat-8725	317	18	development	development	NOUN
easat-8725	317	19	in	in	ADP
easat-8725	317	20	nigeria	nigeria	PROPN
easat-8725	317	21	,	,	PUNCT
easat-8725	317	22	"	"	PUNCT
easat-8725	317	23	international	international	ADJ
easat-8725	317	24	journal	journal	NOUN
easat-8725	317	25	of	of	ADP
easat-8725	317	26	research	research	NOUN
easat-8725	317	27	and	and	CCONJ
easat-8725	317	28	scientific	scientific	ADJ
easat-8725	317	29	innovation	innovation	NOUN
easat-8725	317	30	,	,	PUNCT
easat-8725	317	31	vol	vol	NOUN
easat-8725	317	32	.	.	PROPN
easat-8725	318	1	7	7	NUM
easat-8725	318	2	,	,	PUNCT
easat-8725	318	3	pp	pp	ADJ
easat-8725	318	4	.	.	PUNCT
easat-8725	319	1	136	136	NUM
easat-8725	319	2	-	-	SYM
easat-8725	319	3	141	141	NUM
easat-8725	319	4	,	,	PUNCT
easat-8725	319	5	2020	2020	NUM
easat-8725	319	6	.	.	PUNCT
easat-8725	320	1	[	[	X
easat-8725	320	2	4	4	NUM
easat-8725	320	3	]	]	X
easat-8725	320	4	n.	n.	PROPN
easat-8725	320	5	h.	h.	PROPN
easat-8725	320	6	ogudu	ogudu	PROPN
easat-8725	320	7	,	,	PUNCT
easat-8725	320	8	d.	d.	PROPN
easat-8725	320	9	q.	q.	PROPN
easat-8725	320	10	pan	pan	PROPN
easat-8725	320	11	,	,	PUNCT
easat-8725	320	12	and	and	CCONJ
easat-8725	320	13	s.	s.	PROPN
easat-8725	320	14	wu	wu	PROPN
easat-8725	320	15	,	,	PUNCT
easat-8725	320	16	"	"	PUNCT
easat-8725	320	17	the	the	DET
easat-8725	320	18	nexus	nexus	NOUN
easat-8725	320	19	between	between	ADP
easat-8725	320	20	foreign	foreign	ADJ
easat-8725	320	21	direct	direct	ADJ
easat-8725	320	22	investment	investment	NOUN
easat-8725	320	23	,	,	PUNCT
easat-8725	320	24	trade	trade	NOUN
easat-8725	320	25	openness	openness	NOUN
easat-8725	320	26	,	,	PUNCT
easat-8725	320	27	and	and	CCONJ
easat-8725	320	28	economic	economic	ADJ
easat-8725	320	29	growth	growth	NOUN
easat-8725	320	30	of	of	ADP
easat-8725	320	31	nigeria	nigeria	PROPN
easat-8725	320	32	,	,	PUNCT
easat-8725	320	33	"	"	PUNCT
easat-8725	320	34	journal	journal	NOUN
easat-8725	320	35	of	of	ADP
easat-8725	320	36	the	the	DET
easat-8725	320	37	knowledge	knowledge	NOUN
easat-8725	320	38	economy	economy	NOUN
easat-8725	320	39	,	,	PUNCT
easat-8725	320	40	vol	vol	NOUN
easat-8725	320	41	.	.	PROPN
easat-8725	320	42	15	15	NUM
easat-8725	320	43	,	,	PUNCT
easat-8725	320	44	no	no	INTJ
easat-8725	320	45	.	.	NOUN
easat-8725	320	46	3	3	NUM
easat-8725	320	47	,	,	PUNCT
easat-8725	320	48	pp	pp	ADJ
easat-8725	320	49	.	.	PUNCT
easat-8725	320	50	13394	13394	NUM
easat-8725	320	51	-	-	SYM
easat-8725	320	52	13424	13424	NUM
easat-8725	320	53	,	,	PUNCT
easat-8725	320	54	2024	2024	NUM
easat-8725	320	55	.	.	PUNCT
easat-8725	321	1	https://doi.org/10.1007/s13132-023-01608-y	https://doi.org/10.1007/s13132-023-01608-y	NOUN
easat-8725	321	2	[	[	X
easat-8725	321	3	5	5	X
easat-8725	321	4	]	]	PUNCT
easat-8725	321	5	f.	f.	PROPN
easat-8725	321	6	e.	e.	PROPN
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easat-8725	321	8	,	,	PUNCT
easat-8725	321	9	"	"	PUNCT
easat-8725	321	10	economic	economic	ADJ
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easat-8725	321	13	foreign	foreign	ADJ
easat-8725	321	14	capital	capital	NOUN
easat-8725	321	15	investment	investment	NOUN
easat-8725	321	16	inflow	inflow	NOUN
easat-8725	321	17	in	in	ADP
easat-8725	321	18	nigeria	nigeria	PROPN
easat-8725	321	19	,	,	PUNCT
easat-8725	321	20	"	"	PUNCT
easat-8725	321	21	accounting	accounting	NOUN
easat-8725	321	22	and	and	CCONJ
easat-8725	321	23	taxation	taxation	NOUN
easat-8725	321	24	review	review	NOUN
easat-8725	321	25	,	,	PUNCT
easat-8725	321	26	vol	vol	NOUN
easat-8725	321	27	.	.	PROPN
easat-8725	321	28	5	5	NUM
easat-8725	321	29	,	,	PUNCT
easat-8725	321	30	no	no	INTJ
easat-8725	321	31	.	.	NOUN
easat-8725	321	32	1	1	NUM
easat-8725	321	33	,	,	PUNCT
easat-8725	321	34	pp	pp	ADJ
easat-8725	321	35	.	.	PUNCT
easat-8725	322	1	80	80	NUM
easat-8725	322	2	-	-	SYM
easat-8725	322	3	94	94	NUM
easat-8725	322	4	,	,	PUNCT
easat-8725	322	5	2021	2021	NUM
easat-8725	322	6	.	.	PUNCT
easat-8725	323	1	[	[	X
easat-8725	323	2	6	6	NUM
easat-8725	323	3	]	]	PUNCT
easat-8725	323	4	b.	b.	PROPN
easat-8725	323	5	osuka	osuka	PROPN
easat-8725	323	6	,	,	PUNCT
easat-8725	323	7	s.	s.	PROPN
easat-8725	323	8	chigbu	chigbu	PROPN
easat-8725	323	9	,	,	PUNCT
easat-8725	323	10	and	and	CCONJ
easat-8725	323	11	a.	a.	NOUN
easat-8725	323	12	lucky	lucky	ADJ
easat-8725	323	13	,	,	PUNCT
easat-8725	323	14	"	"	PUNCT
easat-8725	323	15	foreign	foreign	ADJ
easat-8725	323	16	portfolio	portfolio	NOUN
easat-8725	323	17	investment	investment	NOUN
easat-8725	323	18	and	and	CCONJ
easat-8725	323	19	stock	stock	NOUN
easat-8725	323	20	market	market	NOUN
easat-8725	323	21	capitalization	capitalization	NOUN
easat-8725	323	22	in	in	ADP
easat-8725	323	23	nigeria	nigeria	PROPN
easat-8725	323	24	,	,	PUNCT
easat-8725	323	25	"	"	PUNCT
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easat-8725	323	27	journal	journal	NOUN
easat-8725	323	28	of	of	ADP
easat-8725	323	29	economics	economic	NOUN
easat-8725	323	30	and	and	CCONJ
easat-8725	323	31	financial	financial	ADJ
easat-8725	323	32	management	management	NOUN
easat-8725	323	33	,	,	PUNCT
easat-8725	323	34	vol	vol	NOUN
easat-8725	323	35	.	.	PROPN
easat-8725	323	36	9	9	NUM
easat-8725	323	37	,	,	PUNCT
easat-8725	323	38	no	no	INTJ
easat-8725	323	39	.	.	NOUN
easat-8725	323	40	2	2	NUM
easat-8725	323	41	,	,	PUNCT
easat-8725	323	42	pp	pp	ADJ
easat-8725	323	43	.	.	PUNCT
easat-8725	324	1	216	216	NUM
easat-8725	324	2	-	-	SYM
easat-8725	324	3	237	237	NUM
easat-8725	324	4	,	,	PUNCT
easat-8725	324	5	2024	2024	NUM
easat-8725	324	6	.	.	PUNCT
easat-8725	325	1	[	[	X
easat-8725	325	2	7	7	X
easat-8725	325	3	]	]	PUNCT
easat-8725	325	4	p.	p.	PROPN
easat-8725	325	5	k.	k.	PROPN
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easat-8725	325	7	,	,	PUNCT
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easat-8725	325	9	of	of	ADP
easat-8725	325	10	foreign	foreign	ADJ
easat-8725	325	11	direct	direct	ADJ
easat-8725	325	12	investment	investment	NOUN
easat-8725	325	13	inflows	inflow	NOUN
easat-8725	325	14	on	on	ADP
easat-8725	325	15	economic	economic	ADJ
easat-8725	325	16	growth	growth	NOUN
easat-8725	325	17	in	in	ADP
easat-8725	325	18	nigeria	nigeria	PROPN
easat-8725	325	19	.	.	PUNCT
easat-8725	326	1	in	in	ADP
easat-8725	326	2	global	global	ADJ
easat-8725	326	3	economic	economic	ADJ
easat-8725	326	4	interconnectedness	interconnectedness	NOUN
easat-8725	326	5	:	:	PUNCT
easat-8725	326	6	international	international	ADJ
easat-8725	326	7	trade	trade	NOUN
easat-8725	326	8	and	and	CCONJ
easat-8725	326	9	finance	finance	NOUN
easat-8725	326	10	.	.	PUNCT
easat-8725	327	1	hershey	hershey	PROPN
easat-8725	327	2	,	,	PUNCT
easat-8725	327	3	pa	pa	PROPN
easat-8725	327	4	:	:	PUNCT
easat-8725	327	5	igi	igi	PROPN
easat-8725	327	6	global	global	PROPN
easat-8725	327	7	,	,	PUNCT
easat-8725	327	8	2025	2025	NUM
easat-8725	327	9	.	.	PUNCT
easat-8725	328	1	https://creativecommons.org/licenses/by/4.0/	https://creativecommons.org/licenses/by/4.0/	PROPN
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easat-8725	328	7	and	and	CCONJ
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easat-8725	328	9	issn	issn	PROPN
easat-8725	328	10	:	:	PUNCT
easat-8725	328	11	2576	2576	NUM
easat-8725	328	12	-	-	SYM
easat-8725	328	13	8484	8484	NUM
easat-8725	328	14	vol	vol	NOUN
easat-8725	328	15	.	.	PROPN
easat-8725	329	1	9	9	NUM
easat-8725	329	2	,	,	PUNCT
easat-8725	329	3	no	no	INTJ
easat-8725	329	4	.	.	NOUN
easat-8725	329	5	7	7	NUM
easat-8725	329	6	:	:	PUNCT
easat-8725	329	7	767	767	NUM
easat-8725	329	8	-	-	SYM
easat-8725	329	9	779	779	NUM
easat-8725	329	10	,	,	PUNCT
easat-8725	329	11	2025	2025	NUM
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easat-8725	329	13	:	:	PUNCT
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easat-8725	329	22	learning	learning	NOUN
easat-8725	329	23	gate	gate	NOUN
easat-8725	330	1	[	[	X
easat-8725	330	2	8	8	NUM
easat-8725	330	3	]	]	PUNCT
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easat-8725	330	5	l.	l.	PROPN
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easat-8725	330	7	,	,	PUNCT
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easat-8725	330	12	and	and	CCONJ
easat-8725	330	13	o.	o.	PROPN
easat-8725	330	14	a.	a.	PROPN
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easat-8725	330	20	foreign	foreign	ADJ
easat-8725	330	21	private	private	ADJ
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easat-8725	330	24	the	the	DET
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easat-8725	330	29	market	market	NOUN
easat-8725	330	30	,	,	PUNCT
easat-8725	330	31	"	"	PUNCT
easat-8725	330	32	international	international	ADJ
easat-8725	330	33	journal	journal	NOUN
easat-8725	330	34	of	of	ADP
easat-8725	330	35	economics	economic	NOUN
easat-8725	330	36	,	,	PUNCT
easat-8725	330	37	business	business	NOUN
easat-8725	330	38	and	and	CCONJ
easat-8725	330	39	management	management	NOUN
easat-8725	330	40	research	research	NOUN
easat-8725	330	41	,	,	PUNCT
easat-8725	330	42	vol	vol	NOUN
easat-8725	330	43	.	.	PROPN
easat-8725	330	44	1	1	NUM
easat-8725	330	45	,	,	PUNCT
easat-8725	330	46	no	no	INTJ
easat-8725	330	47	.	.	NOUN
easat-8725	330	48	2	2	NUM
easat-8725	330	49	,	,	PUNCT
easat-8725	330	50	pp	pp	ADJ
easat-8725	330	51	.	.	PUNCT
easat-8725	331	1	120	120	NUM
easat-8725	331	2	-	-	SYM
easat-8725	331	3	132	132	NUM
easat-8725	331	4	,	,	PUNCT
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easat-8725	331	6	.	.	PUNCT
easat-8725	332	1	[	[	X
easat-8725	332	2	9	9	NUM
easat-8725	332	3	]	]	PUNCT
easat-8725	332	4	s.	s.	PROPN
easat-8725	332	5	l.	l.	PROPN
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easat-8725	332	7	,	,	PUNCT
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easat-8725	332	11	and	and	CCONJ
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easat-8725	332	17	effect	effect	NOUN
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easat-8725	332	19	foreign	foreign	ADJ
easat-8725	332	20	capital	capital	NOUN
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easat-8725	332	24	growth	growth	NOUN
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easat-8725	332	31	"	"	PUNCT
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easat-8725	332	35	economics	economic	NOUN
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easat-8725	332	41	,	,	PUNCT
easat-8725	332	42	vol	vol	NOUN
easat-8725	332	43	.	.	PROPN
easat-8725	332	44	5	5	NUM
easat-8725	332	45	,	,	PUNCT
easat-8725	332	46	no	no	INTJ
easat-8725	332	47	.	.	NOUN
easat-8725	332	48	3	3	NUM
easat-8725	332	49	,	,	PUNCT
easat-8725	332	50	pp	pp	ADJ
easat-8725	332	51	.	.	PUNCT
easat-8725	333	1	45	45	NUM
easat-8725	333	2	-	-	SYM
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easat-8725	333	4	,	,	PUNCT
easat-8725	333	5	2024	2024	NUM
easat-8725	333	6	.	.	PUNCT
easat-8725	334	1	[	[	X
easat-8725	334	2	10	10	NUM
easat-8725	334	3	]	]	PUNCT
easat-8725	334	4	k.	k.	PROPN
easat-8725	334	5	j.	j.	PROPN
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easat-8725	334	7	and	and	CCONJ
easat-8725	334	8	c.	c.	PROPN
easat-8725	334	9	s.	s.	PROPN
easat-8725	334	10	okaro	okaro	PROPN
easat-8725	334	11	,	,	PUNCT
easat-8725	334	12	"	"	PUNCT
easat-8725	334	13	determinants	determinant	NOUN
easat-8725	334	14	of	of	ADP
easat-8725	334	15	foreign	foreign	ADJ
easat-8725	334	16	direct	direct	ADJ
easat-8725	334	17	investment	investment	NOUN
easat-8725	334	18	in	in	ADP
easat-8725	334	19	nigeria	nigeria	PROPN
easat-8725	334	20	:	:	PUNCT
easat-8725	334	21	a	a	DET
easat-8725	334	22	vector	vector	NOUN
easat-8725	334	23	error	error	NOUN
easat-8725	334	24	correction	correction	NOUN
easat-8725	334	25	model	model	NOUN
easat-8725	334	26	approach	approach	NOUN
easat-8725	334	27	,	,	PUNCT
easat-8725	334	28	"	"	PUNCT
easat-8725	334	29	african	african	ADJ
easat-8725	334	30	banking	banking	NOUN
easat-8725	334	31	and	and	CCONJ
easat-8725	334	32	finance	finance	NOUN
easat-8725	334	33	review	review	NOUN
easat-8725	334	34	journal	journal	PROPN
easat-8725	334	35	,	,	PUNCT
easat-8725	334	36	vol	vol	NOUN
easat-8725	334	37	.	.	PROPN
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easat-8725	334	39	,	,	PUNCT
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easat-8725	334	41	.	.	NOUN
easat-8725	334	42	11	11	NUM
easat-8725	334	43	,	,	PUNCT
easat-8725	334	44	pp	pp	ADJ
easat-8725	334	45	.	.	PUNCT
easat-8725	335	1	27	27	NUM
easat-8725	335	2	-	-	SYM
easat-8725	335	3	45	45	NUM
easat-8725	335	4	,	,	PUNCT
easat-8725	335	5	2024	2024	NUM
easat-8725	335	6	.	.	PUNCT
easat-8725	336	1	[	[	X
easat-8725	336	2	11	11	NUM
easat-8725	336	3	]	]	PUNCT
easat-8725	336	4	j.	j.	PROPN
easat-8725	336	5	t.	t.	PROPN
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easat-8725	336	7	and	and	CCONJ
easat-8725	336	8	e.	e.	PROPN
easat-8725	336	9	o.	o.	PROPN
easat-8725	336	10	abanikanda	abanikanda	PROPN
easat-8725	336	11	,	,	PUNCT
easat-8725	336	12	"	"	PUNCT
easat-8725	336	13	the	the	DET
easat-8725	336	14	moderating	moderate	VERB
easat-8725	336	15	effect	effect	NOUN
easat-8725	336	16	of	of	ADP
easat-8725	336	17	institutions	institution	NOUN
easat-8725	336	18	in	in	ADP
easat-8725	336	19	foreign	foreign	ADJ
easat-8725	336	20	direct	direct	ADJ
easat-8725	336	21	investment	investment	NOUN
easat-8725	336	22	led	lead	VERB
easat-8725	336	23	growth	growth	NOUN
easat-8725	336	24	hypothesis	hypothesis	NOUN
easat-8725	336	25	in	in	ADP
easat-8725	336	26	nigeria	nigeria	PROPN
easat-8725	336	27	,	,	PUNCT
easat-8725	336	28	"	"	PUNCT
easat-8725	336	29	economic	economic	ADJ
easat-8725	336	30	change	change	NOUN
easat-8725	336	31	and	and	CCONJ
easat-8725	336	32	restructuring	restructuring	NOUN
easat-8725	336	33	,	,	PUNCT
easat-8725	336	34	vol	vol	NOUN
easat-8725	336	35	.	.	PROPN
easat-8725	337	1	55	55	NUM
easat-8725	337	2	,	,	PUNCT
easat-8725	337	3	no	no	INTJ
easat-8725	337	4	.	.	NOUN
easat-8725	337	5	2	2	NUM
easat-8725	337	6	,	,	PUNCT
easat-8725	337	7	pp	pp	ADJ
easat-8725	337	8	.	.	PUNCT
easat-8725	338	1	903	903	NUM
easat-8725	338	2	-	-	PUNCT
easat-8725	338	3	929	929	NUM
easat-8725	338	4	,	,	PUNCT
easat-8725	338	5	2022	2022	NUM
easat-8725	338	6	.	.	PUNCT
easat-8725	339	1	[	[	X
easat-8725	339	2	12	12	NUM
easat-8725	339	3	]	]	PUNCT
easat-8725	339	4	e.	e.	PROPN
easat-8725	339	5	f.	f.	PROPN
easat-8725	339	6	fama	fama	PROPN
easat-8725	339	7	,	,	PUNCT
easat-8725	339	8	"	"	PUNCT
easat-8725	339	9	efficient	efficient	ADJ
easat-8725	339	10	capital	capital	NOUN
easat-8725	339	11	markets	market	NOUN
easat-8725	339	12	,	,	PUNCT
easat-8725	339	13	"	"	PUNCT
easat-8725	339	14	journal	journal	NOUN
easat-8725	339	15	of	of	ADP
easat-8725	339	16	finance	finance	NOUN
easat-8725	339	17	,	,	PUNCT
easat-8725	339	18	vol	vol	NOUN
easat-8725	339	19	.	.	PROPN
easat-8725	339	20	25	25	NUM
easat-8725	339	21	,	,	PUNCT
easat-8725	339	22	no	no	INTJ
easat-8725	339	23	.	.	NOUN
easat-8725	339	24	2	2	NUM
easat-8725	339	25	,	,	PUNCT
easat-8725	339	26	pp	pp	ADJ
easat-8725	339	27	.	.	PUNCT
easat-8725	340	1	383	383	NUM
easat-8725	340	2	-	-	SYM
easat-8725	340	3	417	417	NUM
easat-8725	340	4	,	,	PUNCT
easat-8725	340	5	1970	1970	NUM
easat-8725	340	6	.	.	PUNCT
easat-8725	341	1	[	[	X
easat-8725	341	2	13	13	NUM
easat-8725	341	3	]	]	PUNCT
easat-8725	341	4	m.	m.	NOUN
easat-8725	341	5	c.	c.	PROPN
easat-8725	341	6	jensen	jensen	PROPN
easat-8725	341	7	,	,	PUNCT
easat-8725	341	8	"	"	PUNCT
easat-8725	341	9	some	some	DET
easat-8725	341	10	anomalous	anomalous	ADJ
easat-8725	341	11	evidence	evidence	NOUN
easat-8725	341	12	regarding	regard	VERB
easat-8725	341	13	market	market	NOUN
easat-8725	341	14	efficiency	efficiency	NOUN
easat-8725	341	15	,	,	PUNCT
easat-8725	341	16	"	"	PUNCT
easat-8725	341	17	journal	journal	NOUN
easat-8725	341	18	of	of	ADP
easat-8725	341	19	financial	financial	ADJ
easat-8725	341	20	economics	economic	NOUN
easat-8725	341	21	,	,	PUNCT
easat-8725	341	22	vol	vol	NOUN
easat-8725	341	23	.	.	PROPN
easat-8725	342	1	6	6	NUM
easat-8725	342	2	,	,	PUNCT
easat-8725	342	3	no	no	INTJ
easat-8725	342	4	.	.	NOUN
easat-8725	342	5	2	2	NUM
easat-8725	342	6	-	-	SYM
easat-8725	342	7	3	3	NUM
easat-8725	342	8	,	,	PUNCT
easat-8725	342	9	pp	pp	ADJ
easat-8725	342	10	.	.	PUNCT
easat-8725	343	1	95	95	NUM
easat-8725	343	2	-	-	SYM
easat-8725	343	3	101	101	NUM
easat-8725	343	4	,	,	PUNCT
easat-8725	343	5	1978	1978	NUM
easat-8725	343	6	.	.	PUNCT
easat-8725	344	1	https://doi.org/10.1016/0304-405x(78)90025-9	https://doi.org/10.1016/0304-405x(78)90025-9	PROPN
easat-8725	345	1	[	[	X
easat-8725	345	2	14	14	NUM
easat-8725	345	3	]	]	PUNCT
easat-8725	345	4	b.	b.	PROPN
easat-8725	345	5	g.	g.	PROPN
easat-8725	345	6	malkiel	malkiel	PROPN
easat-8725	345	7	,	,	PUNCT
easat-8725	345	8	"	"	PUNCT
easat-8725	345	9	the	the	DET
easat-8725	345	10	efficient	efficient	ADJ
easat-8725	345	11	market	market	NOUN
easat-8725	345	12	hypothesis	hypothesis	NOUN
easat-8725	345	13	and	and	CCONJ
easat-8725	345	14	its	its	PRON
easat-8725	345	15	critics	critic	NOUN
easat-8725	345	16	,	,	PUNCT
easat-8725	345	17	"	"	PUNCT
easat-8725	345	18	journal	journal	NOUN
easat-8725	345	19	of	of	ADP
easat-8725	345	20	economic	economic	ADJ
easat-8725	345	21	perspectives	perspective	NOUN
easat-8725	345	22	,	,	PUNCT
easat-8725	345	23	vol	vol	NOUN
easat-8725	345	24	.	.	PROPN
easat-8725	345	25	17	17	NUM
easat-8725	345	26	,	,	PUNCT
easat-8725	345	27	no	no	INTJ
easat-8725	345	28	.	.	NOUN
easat-8725	345	29	1	1	NUM
easat-8725	345	30	,	,	PUNCT
easat-8725	345	31	pp	pp	ADJ
easat-8725	345	32	.	.	PUNCT
easat-8725	346	1	59	59	NUM
easat-8725	346	2	-	-	SYM
easat-8725	346	3	82	82	NUM
easat-8725	346	4	,	,	PUNCT
easat-8725	346	5	2003	2003	NUM
easat-8725	346	6	.	.	PUNCT
easat-8725	347	1	[	[	X
easat-8725	347	2	15	15	NUM
easat-8725	347	3	]	]	X
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easat-8725	347	6	and	and	CCONJ
easat-8725	347	7	c.	c.	PROPN
easat-8725	347	8	r.	r.	PROPN
easat-8725	347	9	harvey	harvey	PROPN
easat-8725	347	10	,	,	PUNCT
easat-8725	347	11	"	"	PUNCT
easat-8725	347	12	emerging	emerge	VERB
easat-8725	347	13	markets	market	NOUN
easat-8725	347	14	finance	finance	NOUN
easat-8725	347	15	,	,	PUNCT
easat-8725	347	16	"	"	PUNCT
easat-8725	347	17	journal	journal	NOUN
easat-8725	347	18	of	of	ADP
easat-8725	347	19	empirical	empirical	ADJ
easat-8725	347	20	finance	finance	NOUN
easat-8725	347	21	,	,	PUNCT
easat-8725	347	22	vol	vol	NOUN
easat-8725	347	23	.	.	PROPN
easat-8725	347	24	10	10	NUM
easat-8725	347	25	,	,	PUNCT
easat-8725	347	26	no	no	INTJ
easat-8725	347	27	.	.	NOUN
easat-8725	347	28	1	1	NUM
easat-8725	347	29	-	-	SYM
easat-8725	347	30	2	2	NUM
easat-8725	347	31	,	,	PUNCT
easat-8725	347	32	pp	pp	ADJ
easat-8725	347	33	.	.	PUNCT
easat-8725	348	1	3	3	NUM
easat-8725	348	2	-	-	SYM
easat-8725	348	3	55	55	NUM
easat-8725	348	4	,	,	PUNCT
easat-8725	348	5	2003	2003	NUM
easat-8725	348	6	.	.	PUNCT
easat-8725	349	1	[	[	X
easat-8725	349	2	16	16	NUM
easat-8725	349	3	]	]	X
easat-8725	349	4	g.	g.	PROPN
easat-8725	349	5	bekaert	bekaert	PROPN
easat-8725	349	6	,	,	PUNCT
easat-8725	349	7	c.	c.	PROPN
easat-8725	349	8	r.	r.	PROPN
easat-8725	349	9	harvey	harvey	PROPN
easat-8725	349	10	,	,	PUNCT
easat-8725	349	11	and	and	CCONJ
easat-8725	349	12	c.	c.	PROPN
easat-8725	349	13	lundblad	lundblad	PROPN
easat-8725	349	14	,	,	PUNCT
easat-8725	349	15	"	"	PUNCT
easat-8725	349	16	financial	financial	ADJ
easat-8725	349	17	openness	openness	NOUN
easat-8725	349	18	and	and	CCONJ
easat-8725	349	19	productivity	productivity	NOUN
easat-8725	349	20	,	,	PUNCT
easat-8725	349	21	"	"	PUNCT
easat-8725	349	22	world	world	NOUN
easat-8725	349	23	development	development	NOUN
easat-8725	349	24	,	,	PUNCT
easat-8725	349	25	vol	vol	NOUN
easat-8725	349	26	.	.	PROPN
easat-8725	349	27	57	57	NUM
easat-8725	349	28	,	,	PUNCT
easat-8725	349	29	pp	pp	ADJ
easat-8725	349	30	.	.	PUNCT
easat-8725	350	1	66	66	NUM
easat-8725	350	2	-	-	SYM
easat-8725	350	3	78	78	NUM
easat-8725	350	4	,	,	PUNCT
easat-8725	350	5	2014	2014	NUM
easat-8725	350	6	.	.	PUNCT
easat-8725	351	1	[	[	X
easat-8725	351	2	17	17	NUM
easat-8725	351	3	]	]	X
easat-8725	351	4	f.	f.	PROPN
easat-8725	351	5	e.	e.	PROPN
easat-8725	351	6	araoye	araoye	PROPN
easat-8725	351	7	,	,	PUNCT
easat-8725	351	8	"	"	PUNCT
easat-8725	351	9	impact	impact	NOUN
easat-8725	351	10	of	of	ADP
easat-8725	351	11	capital	capital	NOUN
easat-8725	351	12	market	market	NOUN
easat-8725	351	13	development	development	NOUN
easat-8725	351	14	on	on	ADP
easat-8725	351	15	foreign	foreign	ADJ
easat-8725	351	16	portfolio	portfolio	NOUN
easat-8725	351	17	investment	investment	NOUN
easat-8725	351	18	in	in	ADP
easat-8725	351	19	nigeria	nigeria	PROPN
easat-8725	351	20	,	,	PUNCT
easat-8725	351	21	"	"	PUNCT
easat-8725	351	22	umyu	umyu	PROPN
easat-8725	351	23	journal	journal	PROPN
easat-8725	351	24	of	of	ADP
easat-8725	351	25	accounting	accounting	NOUN
easat-8725	351	26	and	and	CCONJ
easat-8725	351	27	finance	finance	NOUN
easat-8725	351	28	research	research	NOUN
easat-8725	351	29	,	,	PUNCT
easat-8725	351	30	vol	vol	NOUN
easat-8725	351	31	.	.	PROPN
easat-8725	351	32	1	1	NUM
easat-8725	351	33	,	,	PUNCT
easat-8725	351	34	no	no	INTJ
easat-8725	351	35	.	.	NOUN
easat-8725	351	36	2	2	NUM
easat-8725	351	37	,	,	PUNCT
easat-8725	351	38	pp	pp	ADJ
easat-8725	351	39	.	.	PUNCT
easat-8725	352	1	70	70	NUM
easat-8725	352	2	-	-	SYM
easat-8725	352	3	88	88	NUM
easat-8725	352	4	,	,	PUNCT
easat-8725	352	5	2021	2021	NUM
easat-8725	352	6	.	.	PUNCT
easat-8725	353	1	[	[	X
easat-8725	353	2	18	18	NUM
easat-8725	353	3	]	]	X
easat-8725	353	4	h.	h.	PROPN
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easat-8725	353	6	,	,	PUNCT
easat-8725	353	7	"	"	PUNCT
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easat-8725	353	9	selection	selection	NOUN
easat-8725	353	10	,	,	PUNCT
easat-8725	353	11	"	"	PUNCT
easat-8725	353	12	the	the	DET
easat-8725	353	13	journal	journal	NOUN
easat-8725	353	14	of	of	ADP
easat-8725	353	15	finance	finance	NOUN
easat-8725	353	16	,	,	PUNCT
easat-8725	353	17	vol	vol	NOUN
easat-8725	353	18	.	.	PROPN
easat-8725	353	19	7	7	NUM
easat-8725	353	20	,	,	PUNCT
easat-8725	353	21	no	no	INTJ
easat-8725	353	22	.	.	NOUN
easat-8725	353	23	1	1	NUM
easat-8725	353	24	,	,	PUNCT
easat-8725	353	25	pp	pp	ADJ
easat-8725	353	26	.	.	PUNCT
easat-8725	354	1	77	77	NUM
easat-8725	354	2	-	-	SYM
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easat-8725	354	4	,	,	PUNCT
easat-8725	354	5	1952	1952	NUM
easat-8725	354	6	.	.	PUNCT
easat-8725	355	1	[	[	X
easat-8725	355	2	19	19	NUM
easat-8725	355	3	]	]	X
easat-8725	355	4	e.	e.	PROPN
easat-8725	355	5	j.	j.	PROPN
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easat-8725	355	8	m.	m.	PROPN
easat-8725	355	9	j.	j.	PROPN
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easat-8725	355	11	,	,	PUNCT
easat-8725	355	12	"	"	PUNCT
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easat-8725	355	14	portfolio	portfolio	NOUN
easat-8725	355	15	theory	theory	NOUN
easat-8725	355	16	,	,	PUNCT
easat-8725	355	17	1950	1950	NUM
easat-8725	355	18	to	to	ADP
easat-8725	355	19	date	date	NOUN
easat-8725	355	20	,	,	PUNCT
easat-8725	355	21	"	"	PUNCT
easat-8725	355	22	journal	journal	NOUN
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easat-8725	355	25	&	&	CCONJ
easat-8725	355	26	finance	finance	PROPN
easat-8725	355	27	,	,	PUNCT
easat-8725	355	28	vol	vol	NOUN
easat-8725	355	29	.	.	PROPN
easat-8725	355	30	21	21	NUM
easat-8725	355	31	,	,	PUNCT
easat-8725	355	32	no	no	INTJ
easat-8725	355	33	.	.	PUNCT
easat-8725	355	34	11–12	11–12	NUM
easat-8725	355	35	,	,	PUNCT
easat-8725	355	36	pp	pp	ADJ
easat-8725	355	37	.	.	PUNCT
easat-8725	355	38	1743–1759	1743–1759	NUM
easat-8725	355	39	,	,	PUNCT
easat-8725	355	40	1997	1997	NUM
easat-8725	355	41	.	.	PUNCT
easat-8725	356	1	[	[	X
easat-8725	356	2	20	20	NUM
easat-8725	356	3	]	]	PUNCT
easat-8725	356	4	b.	b.	PROPN
easat-8725	356	5	solnik	solnik	PROPN
easat-8725	356	6	and	and	CCONJ
easat-8725	356	7	d.	d.	PROPN
easat-8725	356	8	mcleavey	mcleavey	PROPN
easat-8725	356	9	,	,	PUNCT
easat-8725	356	10	global	global	ADJ
easat-8725	356	11	investments	investment	NOUN
easat-8725	356	12	,	,	PUNCT
easat-8725	356	13	6th	6th	ADJ
easat-8725	356	14	ed	ed	NOUN
easat-8725	356	15	.	.	PUNCT
easat-8725	356	16	boston	boston	PROPN
easat-8725	356	17	,	,	PUNCT
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easat-8725	356	19	:	:	PUNCT
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easat-8725	356	21	,	,	PUNCT
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easat-8725	356	23	.	.	PUNCT
easat-8725	357	1	[	[	X
easat-8725	357	2	21	21	NUM
easat-8725	357	3	]	]	X
easat-8725	357	4	e.	e.	PROPN
easat-8725	357	5	k.	k.	PROPN
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easat-8725	357	7	and	and	CCONJ
easat-8725	357	8	a.	a.	PROPN
easat-8725	357	9	b.	b.	PROPN
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easat-8725	357	13	global	global	ADJ
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easat-8725	357	16	,	,	PUNCT
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easat-8725	357	30	-	-	ADJ
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easat-8725	357	32	firms	firm	NOUN
easat-8725	357	33	,	,	PUNCT
easat-8725	357	34	"	"	PUNCT
easat-8725	357	35	journal	journal	NOUN
easat-8725	357	36	of	of	ADP
easat-8725	357	37	accounting	accounting	NOUN
easat-8725	357	38	and	and	CCONJ
easat-8725	357	39	management	management	NOUN
easat-8725	357	40	,	,	PUNCT
easat-8725	357	41	vol	vol	NOUN
easat-8725	357	42	.	.	PROPN
easat-8725	357	43	8	8	NUM
easat-8725	357	44	,	,	PUNCT
easat-8725	357	45	no	no	INTJ
easat-8725	357	46	.	.	NOUN
easat-8725	357	47	1	1	NUM
easat-8725	357	48	,	,	PUNCT
easat-8725	357	49	pp	pp	ADJ
easat-8725	357	50	.	.	PUNCT
easat-8725	357	51	5	5	NUM
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easat-8725	357	53	22	22	NUM
easat-8725	357	54	,	,	PUNCT
easat-8725	357	55	2018	2018	NUM
easat-8725	357	56	.	.	PUNCT
easat-8725	358	1	[	[	X
easat-8725	358	2	22	22	NUM
easat-8725	358	3	]	]	PUNCT
easat-8725	358	4	m.	m.	NOUN
easat-8725	358	5	a.	a.	PROPN
easat-8725	358	6	kose	kose	PROPN
easat-8725	358	7	,	,	PUNCT
easat-8725	358	8	e.	e.	PROPN
easat-8725	358	9	s.	s.	PROPN
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easat-8725	358	11	,	,	PUNCT
easat-8725	358	12	k.	k.	PROPN
easat-8725	358	13	rogoff	rogoff	PROPN
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easat-8725	358	16	s.-j	s.-j	PROPN
easat-8725	358	17	.	.	PUNCT
easat-8725	359	1	wei	wei	PROPN
easat-8725	359	2	,	,	PUNCT
easat-8725	359	3	"	"	PUNCT
easat-8725	359	4	financial	financial	ADJ
easat-8725	359	5	globalization	globalization	NOUN
easat-8725	359	6	:	:	PUNCT
easat-8725	359	7	a	a	DET
easat-8725	359	8	reappraisal	reappraisal	NOUN
easat-8725	359	9	,	,	PUNCT
easat-8725	359	10	"	"	PUNCT
easat-8725	359	11	imf	imf	PROPN
easat-8725	359	12	staff	staff	NOUN
easat-8725	359	13	papers	paper	NOUN
easat-8725	359	14	,	,	PUNCT
easat-8725	359	15	vol	vol	NOUN
easat-8725	359	16	.	.	PROPN
easat-8725	360	1	56	56	NUM
easat-8725	360	2	,	,	PUNCT
easat-8725	360	3	no	no	INTJ
easat-8725	360	4	.	.	NOUN
easat-8725	360	5	1	1	NUM
easat-8725	360	6	,	,	PUNCT
easat-8725	360	7	pp	pp	ADJ
easat-8725	360	8	.	.	PUNCT
easat-8725	360	9	8–62	8–62	NUM
easat-8725	360	10	,	,	PUNCT
easat-8725	360	11	2009	2009	NUM
easat-8725	360	12	.	.	PUNCT
easat-8725	361	1	[	[	X
easat-8725	361	2	23	23	NUM
easat-8725	361	3	]	]	X
easat-8725	361	4	g.	g.	PROPN
easat-8725	361	5	a.	a.	PROPN
easat-8725	361	6	akerlof	akerlof	PROPN
easat-8725	361	7	,	,	PUNCT
easat-8725	361	8	"	"	PUNCT
easat-8725	361	9	the	the	DET
easat-8725	361	10	market	market	NOUN
easat-8725	361	11	for	for	ADP
easat-8725	361	12	“	"	PUNCT
easat-8725	361	13	lemons	lemon	NOUN
easat-8725	361	14	”	"	PUNCT
easat-8725	361	15	:	:	PUNCT
easat-8725	361	16	quality	quality	NOUN
easat-8725	361	17	uncertainty	uncertainty	NOUN
easat-8725	361	18	and	and	CCONJ
easat-8725	361	19	the	the	DET
easat-8725	361	20	market	market	NOUN
easat-8725	361	21	mechanism	mechanism	NOUN
easat-8725	361	22	,	,	PUNCT
easat-8725	361	23	"	"	PUNCT
easat-8725	361	24	the	the	DET
easat-8725	361	25	quarterly	quarterly	ADJ
easat-8725	361	26	journal	journal	NOUN
easat-8725	361	27	of	of	ADP
easat-8725	361	28	economics	economic	NOUN
easat-8725	361	29	,	,	PUNCT
easat-8725	361	30	vol	vol	NOUN
easat-8725	361	31	.	.	PROPN
easat-8725	361	32	84	84	NUM
easat-8725	361	33	,	,	PUNCT
easat-8725	361	34	no	no	INTJ
easat-8725	361	35	.	.	NOUN
easat-8725	361	36	3	3	NUM
easat-8725	361	37	,	,	PUNCT
easat-8725	361	38	pp	pp	ADJ
easat-8725	361	39	.	.	PUNCT
easat-8725	362	1	488–500	488–500	NUM
easat-8725	362	2	,	,	PUNCT
easat-8725	362	3	1970	1970	NUM
easat-8725	362	4	.	.	PUNCT
easat-8725	363	1	[	[	X
easat-8725	363	2	24	24	NUM
easat-8725	363	3	]	]	PUNCT
easat-8725	363	4	j.	j.	PROPN
easat-8725	363	5	e.	e.	PROPN
easat-8725	363	6	stiglitz	stiglitz	PROPN
easat-8725	363	7	and	and	CCONJ
easat-8725	363	8	a.	a.	NOUN
easat-8725	363	9	weiss	weiss	PROPN
easat-8725	363	10	,	,	PUNCT
easat-8725	363	11	"	"	PUNCT
easat-8725	363	12	credit	credit	NOUN
easat-8725	363	13	rationing	rationing	NOUN
easat-8725	363	14	in	in	ADP
easat-8725	363	15	markets	market	NOUN
easat-8725	363	16	with	with	ADP
easat-8725	363	17	imperfect	imperfect	ADJ
easat-8725	363	18	information	information	NOUN
easat-8725	363	19	,	,	PUNCT
easat-8725	363	20	"	"	PUNCT
easat-8725	363	21	the	the	DET
easat-8725	363	22	american	american	PROPN
easat-8725	363	23	economic	economic	PROPN
easat-8725	363	24	review	review	PROPN
easat-8725	363	25	,	,	PUNCT
easat-8725	363	26	vol	vol	NOUN
easat-8725	363	27	.	.	PROPN
easat-8725	364	1	71	71	NUM
easat-8725	364	2	,	,	PUNCT
easat-8725	364	3	no	no	INTJ
easat-8725	364	4	.	.	NOUN
easat-8725	364	5	3	3	NUM
easat-8725	364	6	,	,	PUNCT
easat-8725	364	7	pp	pp	ADJ
easat-8725	364	8	.	.	PUNCT
easat-8725	365	1	393	393	NUM
easat-8725	365	2	-	-	SYM
easat-8725	365	3	410	410	NUM
easat-8725	365	4	,	,	PUNCT
easat-8725	365	5	1981	1981	NUM
easat-8725	365	6	.	.	PUNCT
easat-8725	366	1	[	[	X
easat-8725	366	2	25	25	NUM
easat-8725	366	3	]	]	X
easat-8725	366	4	d.	d.	PROPN
easat-8725	366	5	w.	w.	PROPN
easat-8725	366	6	diamond	diamond	PROPN
easat-8725	366	7	,	,	PUNCT
easat-8725	366	8	"	"	PUNCT
easat-8725	366	9	financial	financial	ADJ
easat-8725	366	10	intermediation	intermediation	NOUN
easat-8725	366	11	and	and	CCONJ
easat-8725	366	12	delegated	delegate	VERB
easat-8725	366	13	monitoring	monitoring	NOUN
easat-8725	366	14	,	,	PUNCT
easat-8725	366	15	"	"	PUNCT
easat-8725	366	16	the	the	DET
easat-8725	366	17	review	review	NOUN
easat-8725	366	18	of	of	ADP
easat-8725	366	19	economic	economic	ADJ
easat-8725	366	20	studies	study	NOUN
easat-8725	366	21	,	,	PUNCT
easat-8725	366	22	vol	vol	NOUN
easat-8725	366	23	.	.	PROPN
easat-8725	367	1	51	51	NUM
easat-8725	367	2	,	,	PUNCT
easat-8725	367	3	no	no	INTJ
easat-8725	367	4	.	.	NOUN
easat-8725	367	5	3	3	NUM
easat-8725	367	6	,	,	PUNCT
easat-8725	367	7	pp	pp	ADJ
easat-8725	367	8	.	.	PUNCT
easat-8725	368	1	393	393	NUM
easat-8725	368	2	-	-	SYM
easat-8725	368	3	414	414	NUM
easat-8725	368	4	,	,	PUNCT
easat-8725	368	5	1984	1984	NUM
easat-8725	368	6	.	.	PUNCT
easat-8725	369	1	https://doi.org/10.2307/2297430	https://doi.org/10.2307/2297430	X
easat-8725	370	1	[	[	X
easat-8725	370	2	26	26	NUM
easat-8725	370	3	]	]	PUNCT
easat-8725	370	4	s.	s.	PROPN
easat-8725	370	5	c.	c.	PROPN
easat-8725	370	6	myers	myers	PROPN
easat-8725	370	7	and	and	CCONJ
easat-8725	370	8	n.	n.	PROPN
easat-8725	370	9	s.	s.	PROPN
easat-8725	370	10	majluf	majluf	PROPN
easat-8725	370	11	,	,	PUNCT
easat-8725	370	12	"	"	PUNCT
easat-8725	370	13	corporate	corporate	ADJ
easat-8725	370	14	financing	financing	NOUN
easat-8725	370	15	and	and	CCONJ
easat-8725	370	16	investment	investment	NOUN
easat-8725	370	17	decisions	decision	NOUN
easat-8725	370	18	when	when	SCONJ
easat-8725	370	19	firms	firm	NOUN
easat-8725	370	20	have	have	VERB
easat-8725	370	21	information	information	NOUN
easat-8725	370	22	that	that	SCONJ
easat-8725	370	23	investors	investor	NOUN
easat-8725	370	24	do	do	AUX
easat-8725	370	25	not	not	PART
easat-8725	370	26	have	have	VERB
easat-8725	370	27	,	,	PUNCT
easat-8725	370	28	"	"	PUNCT
easat-8725	370	29	journal	journal	NOUN
easat-8725	370	30	of	of	ADP
easat-8725	370	31	financial	financial	ADJ
easat-8725	370	32	economics	economic	NOUN
easat-8725	370	33	,	,	PUNCT
easat-8725	370	34	vol	vol	NOUN
easat-8725	370	35	.	.	PROPN
easat-8725	370	36	13	13	NUM
easat-8725	370	37	,	,	PUNCT
easat-8725	370	38	no	no	INTJ
easat-8725	370	39	.	.	NOUN
easat-8725	370	40	2	2	NUM
easat-8725	370	41	,	,	PUNCT
easat-8725	370	42	pp	pp	ADJ
easat-8725	370	43	.	.	PUNCT
easat-8725	371	1	187	187	NUM
easat-8725	371	2	-	-	SYM
easat-8725	371	3	221	221	NUM
easat-8725	371	4	,	,	PUNCT
easat-8725	371	5	1984	1984	NUM
easat-8725	371	6	.	.	PUNCT
easat-8725	372	1	[	[	X
easat-8725	372	2	27	27	NUM
easat-8725	372	3	]	]	PUNCT
easat-8725	372	4	r.	r.	PROPN
easat-8725	372	5	la	la	PROPN
easat-8725	372	6	porta	porta	PROPN
easat-8725	372	7	,	,	PUNCT
easat-8725	372	8	f.	f.	PROPN
easat-8725	372	9	lopez‐de‐silanes	lopez‐de‐silanes	PROPN
easat-8725	372	10	,	,	PUNCT
easat-8725	372	11	a.	a.	NOUN
easat-8725	372	12	shleifer	shleifer	NOUN
easat-8725	372	13	,	,	PUNCT
easat-8725	372	14	and	and	CCONJ
easat-8725	372	15	r.	r.	PROPN
easat-8725	372	16	w.	w.	PROPN
easat-8725	372	17	vishny	vishny	PROPN
easat-8725	372	18	,	,	PUNCT
easat-8725	372	19	"	"	PUNCT
easat-8725	372	20	legal	legal	ADJ
easat-8725	372	21	determinants	determinant	NOUN
easat-8725	372	22	of	of	ADP
easat-8725	372	23	external	external	ADJ
easat-8725	372	24	finance	finance	NOUN
easat-8725	372	25	,	,	PUNCT
easat-8725	372	26	"	"	PUNCT
easat-8725	372	27	the	the	DET
easat-8725	372	28	journal	journal	NOUN
easat-8725	372	29	of	of	ADP
easat-8725	372	30	finance	finance	NOUN
easat-8725	372	31	,	,	PUNCT
easat-8725	372	32	vol	vol	NOUN
easat-8725	372	33	.	.	PROPN
easat-8725	372	34	52	52	NUM
easat-8725	372	35	,	,	PUNCT
easat-8725	372	36	no	no	INTJ
easat-8725	372	37	.	.	NOUN
easat-8725	372	38	3	3	NUM
easat-8725	372	39	,	,	PUNCT
easat-8725	372	40	pp	pp	ADJ
easat-8725	372	41	.	.	PUNCT
easat-8725	373	1	1131	1131	NUM
easat-8725	373	2	-	-	SYM
easat-8725	373	3	1150	1150	NUM
easat-8725	373	4	,	,	PUNCT
easat-8725	373	5	1997	1997	NUM
easat-8725	373	6	.	.	PUNCT
easat-8725	374	1	https://doi.org/10.1111/j.15406261.1997.tb02727.x	https://doi.org/10.1111/j.15406261.1997.tb02727.x	PROPN
easat-8725	375	1	[	[	X
easat-8725	375	2	28	28	NUM
easat-8725	375	3	]	]	X
easat-8725	375	4	e.	e.	PROPN
easat-8725	375	5	boehmer	boehmer	PROPN
easat-8725	375	6	,	,	PUNCT
easat-8725	375	7	c.	c.	PROPN
easat-8725	375	8	m.	m.	PROPN
easat-8725	375	9	jones	jones	PROPN
easat-8725	375	10	,	,	PUNCT
easat-8725	375	11	and	and	CCONJ
easat-8725	375	12	x.	x.	NOUN
easat-8725	375	13	zhang	zhang	PROPN
easat-8725	375	14	,	,	PUNCT
easat-8725	375	15	"	"	PUNCT
easat-8725	375	16	which	which	DET
easat-8725	375	17	shorts	short	NOUN
easat-8725	375	18	are	be	AUX
easat-8725	375	19	informed	inform	VERB
easat-8725	375	20	?	?	PUNCT
easat-8725	375	21	,	,	PUNCT
easat-8725	375	22	"	"	PUNCT
easat-8725	375	23	the	the	DET
easat-8725	375	24	journal	journal	NOUN
easat-8725	375	25	of	of	ADP
easat-8725	375	26	finance	finance	NOUN
easat-8725	375	27	,	,	PUNCT
easat-8725	375	28	vol	vol	NOUN
easat-8725	375	29	.	.	PROPN
easat-8725	375	30	63	63	NUM
easat-8725	375	31	,	,	PUNCT
easat-8725	375	32	no	no	INTJ
easat-8725	375	33	.	.	NOUN
easat-8725	375	34	2	2	NUM
easat-8725	375	35	,	,	PUNCT
easat-8725	375	36	pp	pp	ADJ
easat-8725	375	37	.	.	PUNCT
easat-8725	376	1	491	491	NUM
easat-8725	376	2	-	-	SYM
easat-8725	376	3	527	527	NUM
easat-8725	376	4	,	,	PUNCT
easat-8725	376	5	2008	2008	NUM
easat-8725	376	6	.	.	PUNCT
easat-8725	377	1	[	[	X
easat-8725	377	2	29	29	NUM
easat-8725	377	3	]	]	X
easat-8725	377	4	j.-k	j.-k	PROPN
easat-8725	377	5	.	.	PUNCT
easat-8725	378	1	s.	s.	PROPN
easat-8725	378	2	kang	kang	PROPN
easat-8725	378	3	,	,	PUNCT
easat-8725	378	4	r.	r.	PROPN
easat-8725	378	5	m.	m.	PROPN
easat-8725	378	6	,	,	PUNCT
easat-8725	378	7	"	"	PUNCT
easat-8725	378	8	why	why	SCONJ
easat-8725	378	9	is	be	AUX
easat-8725	378	10	there	there	PRON
easat-8725	378	11	a	a	DET
easat-8725	378	12	home	home	NOUN
easat-8725	378	13	bias	bias	NOUN
easat-8725	378	14	?	?	PUNCT
easat-8725	379	1	an	an	DET
easat-8725	379	2	analysis	analysis	NOUN
easat-8725	379	3	of	of	ADP
easat-8725	379	4	foreign	foreign	ADJ
easat-8725	379	5	portfolio	portfolio	NOUN
easat-8725	379	6	equity	equity	NOUN
easat-8725	379	7	ownership	ownership	NOUN
easat-8725	379	8	in	in	ADP
easat-8725	379	9	japan	japan	PROPN
easat-8725	379	10	,	,	PUNCT
easat-8725	379	11	"	"	PUNCT
easat-8725	379	12	journal	journal	NOUN
easat-8725	379	13	of	of	ADP
easat-8725	379	14	financial	financial	ADJ
easat-8725	379	15	economics	economic	NOUN
easat-8725	379	16	,	,	PUNCT
easat-8725	379	17	vol	vol	NOUN
easat-8725	379	18	.	.	PROPN
easat-8725	379	19	46	46	NUM
easat-8725	379	20	,	,	PUNCT
easat-8725	379	21	no	no	INTJ
easat-8725	379	22	.	.	NOUN
easat-8725	379	23	1	1	NUM
easat-8725	379	24	,	,	PUNCT
easat-8725	379	25	pp	pp	ADJ
easat-8725	379	26	.	.	PUNCT
easat-8725	380	1	3	3	NUM
easat-8725	380	2	-	-	SYM
easat-8725	380	3	28	28	NUM
easat-8725	380	4	,	,	PUNCT
easat-8725	380	5	1997	1997	NUM
easat-8725	380	6	.	.	PUNCT
easat-8725	381	1	[	[	X
easat-8725	381	2	30	30	NUM
easat-8725	381	3	]	]	X
easat-8725	381	4	d.	d.	PROPN
easat-8725	381	5	c.	c.	PROPN
easat-8725	381	6	north	north	PROPN
easat-8725	381	7	,	,	PUNCT
easat-8725	381	8	institutions	institution	NOUN
easat-8725	381	9	,	,	PUNCT
easat-8725	381	10	institutional	institutional	ADJ
easat-8725	381	11	change	change	NOUN
easat-8725	381	12	and	and	CCONJ
easat-8725	381	13	economic	economic	ADJ
easat-8725	381	14	performance	performance	NOUN
easat-8725	381	15	.	.	PUNCT
easat-8725	382	1	cambridge	cambridge	PROPN
easat-8725	382	2	,	,	PUNCT
easat-8725	382	3	uk	uk	PROPN
easat-8725	382	4	:	:	PUNCT
easat-8725	382	5	cambridge	cambridge	PROPN
easat-8725	382	6	university	university	PROPN
easat-8725	382	7	press	press	NOUN
easat-8725	382	8	,	,	PUNCT
easat-8725	382	9	1990	1990	NUM
easat-8725	382	10	.	.	PUNCT
easat-8725	383	1	[	[	X
easat-8725	383	2	31	31	NUM
easat-8725	383	3	]	]	X
easat-8725	383	4	o.	o.	PROPN
easat-8725	383	5	e.	e.	PROPN
easat-8725	383	6	williamson	williamson	PROPN
easat-8725	383	7	,	,	PUNCT
easat-8725	383	8	the	the	DET
easat-8725	383	9	mechanisms	mechanism	NOUN
easat-8725	383	10	of	of	ADP
easat-8725	383	11	governance	governance	NOUN
easat-8725	383	12	.	.	PUNCT
easat-8725	384	1	new	new	PROPN
easat-8725	384	2	york	york	PROPN
easat-8725	384	3	:	:	PUNCT
easat-8725	384	4	oxford	oxford	PROPN
easat-8725	384	5	university	university	PROPN
easat-8725	384	6	press	press	NOUN
easat-8725	384	7	,	,	PUNCT
easat-8725	384	8	1996	1996	NUM
easat-8725	384	9	.	.	PUNCT
easat-8725	385	1	[	[	X
easat-8725	385	2	32	32	NUM
easat-8725	385	3	]	]	PUNCT
easat-8725	385	4	d.	d.	PROPN
easat-8725	385	5	acemoglu	acemoglu	PROPN
easat-8725	385	6	and	and	CCONJ
easat-8725	385	7	j.	j.	PROPN
easat-8725	385	8	a.	a.	PROPN
easat-8725	385	9	robinson	robinson	PROPN
easat-8725	385	10	,	,	PUNCT
easat-8725	385	11	why	why	SCONJ
easat-8725	385	12	nations	nation	NOUN
easat-8725	385	13	fail	fail	VERB
easat-8725	385	14	:	:	PUNCT
easat-8725	385	15	the	the	DET
easat-8725	385	16	origins	origin	NOUN
easat-8725	385	17	of	of	ADP
easat-8725	385	18	power	power	NOUN
easat-8725	385	19	,	,	PUNCT
easat-8725	385	20	prosperity	prosperity	NOUN
easat-8725	385	21	,	,	PUNCT
easat-8725	385	22	and	and	CCONJ
easat-8725	385	23	poverty	poverty	NOUN
easat-8725	385	24	.	.	PUNCT
easat-8725	386	1	new	new	PROPN
easat-8725	386	2	york	york	PROPN
easat-8725	386	3	:	:	PUNCT
easat-8725	386	4	crown	crown	NOUN
easat-8725	386	5	publishers	publisher	NOUN
easat-8725	386	6	,	,	PUNCT
easat-8725	386	7	2012	2012	NUM
easat-8725	386	8	.	.	PUNCT
easat-8725	387	1	[	[	X
easat-8725	387	2	33	33	NUM
easat-8725	387	3	]	]	X
easat-8725	387	4	c.	c.	PROPN
easat-8725	387	5	r.	r.	PROPN
easat-8725	387	6	nelson	nelson	PROPN
easat-8725	387	7	and	and	CCONJ
easat-8725	387	8	c.	c.	PROPN
easat-8725	387	9	i.	i.	PROPN
easat-8725	387	10	plosser	plosser	PROPN
easat-8725	387	11	,	,	PUNCT
easat-8725	387	12	"	"	PUNCT
easat-8725	387	13	trends	trend	NOUN
easat-8725	387	14	and	and	CCONJ
easat-8725	387	15	random	random	ADJ
easat-8725	387	16	walks	walk	NOUN
easat-8725	387	17	in	in	ADP
easat-8725	387	18	macroeconomic	macroeconomic	ADJ
easat-8725	387	19	time	time	NOUN
easat-8725	387	20	series	series	NOUN
easat-8725	387	21	:	:	PUNCT
easat-8725	387	22	some	some	DET
easat-8725	387	23	evidence	evidence	NOUN
easat-8725	387	24	and	and	CCONJ
easat-8725	387	25	implications	implication	NOUN
easat-8725	387	26	,	,	PUNCT
easat-8725	387	27	"	"	PUNCT
easat-8725	387	28	journal	journal	NOUN
easat-8725	387	29	of	of	ADP
easat-8725	387	30	monetary	monetary	ADJ
easat-8725	387	31	economics	economic	NOUN
easat-8725	387	32	,	,	PUNCT
easat-8725	387	33	vol	vol	NOUN
easat-8725	387	34	.	.	PROPN
easat-8725	387	35	10	10	NUM
easat-8725	387	36	,	,	PUNCT
easat-8725	387	37	no	no	INTJ
easat-8725	387	38	.	.	NOUN
easat-8725	387	39	2	2	NUM
easat-8725	387	40	,	,	PUNCT
easat-8725	387	41	pp	pp	ADJ
easat-8725	387	42	.	.	PUNCT
easat-8725	388	1	139–162	139–162	NUM
easat-8725	388	2	,	,	PUNCT
easat-8725	388	3	1982	1982	NUM
easat-8725	388	4	.	.	PUNCT
easat-8725	389	1	https://doi.org/10.1016/0304-405x(78)90025-9	https://doi.org/10.1016/0304-405x(78)90025-9	PROPN
easat-8725	389	2	https://doi.org/10.2307/2297430	https://doi.org/10.2307/2297430	PRON
easat-8725	390	1	https://doi.org/10.1111/j.1540-6261.1997.tb02727.x	https://doi.org/10.1111/j.1540-6261.1997.tb02727.x	PRON
easat-8725	390	2	https://doi.org/10.1111/j.1540-6261.1997.tb02727.x	https://doi.org/10.1111/j.1540-6261.1997.tb02727.x	PROPN
easat-8725	390	3	779	779	NUM
easat-8725	390	4	edelweiss	edelweiss	PROPN
easat-8725	390	5	applied	apply	VERB
easat-8725	390	6	science	science	NOUN
easat-8725	390	7	and	and	CCONJ
easat-8725	390	8	technology	technology	NOUN
easat-8725	390	9	issn	issn	PROPN
easat-8725	390	10	:	:	PUNCT
easat-8725	390	11	2576	2576	NUM
easat-8725	390	12	-	-	SYM
easat-8725	390	13	8484	8484	NUM
easat-8725	390	14	vol	vol	NOUN
easat-8725	390	15	.	.	PROPN
easat-8725	390	16	9	9	NUM
easat-8725	390	17	,	,	PUNCT
easat-8725	390	18	no	no	INTJ
easat-8725	390	19	.	.	NOUN
easat-8725	390	20	7	7	NUM
easat-8725	390	21	:	:	PUNCT
easat-8725	390	22	767	767	NUM
easat-8725	390	23	-	-	SYM
easat-8725	390	24	779	779	NUM
easat-8725	390	25	,	,	PUNCT
easat-8725	390	26	2025	2025	NUM
easat-8725	390	27	doi	doi	NOUN
easat-8725	390	28	:	:	PUNCT
easat-8725	390	29	10.55214/25768484.v9i7.8725	10.55214/25768484.v9i7.8725	NUM
easat-8725	390	30	©	©	PROPN
easat-8725	390	31	2025	2025	NUM
easat-8725	390	32	by	by	ADP
easat-8725	390	33	the	the	DET
easat-8725	390	34	authors	author	NOUN
easat-8725	390	35	;	;	PUNCT
easat-8725	390	36	licensee	licensee	PROPN
easat-8725	390	37	learning	learning	NOUN
easat-8725	390	38	gate	gate	NOUN
easat-8725	391	1	[	[	X
easat-8725	391	2	34	34	NUM
easat-8725	391	3	]	]	PUNCT
easat-8725	391	4	s.	s.	PROPN
easat-8725	391	5	johansen	johansen	PROPN
easat-8725	391	6	and	and	CCONJ
easat-8725	391	7	k.	k.	PROPN
easat-8725	391	8	juselius	juselius	PROPN
easat-8725	391	9	,	,	PUNCT
easat-8725	391	10	"	"	PUNCT
easat-8725	391	11	maximum	maximum	ADJ
easat-8725	391	12	likelihood	likelihood	NOUN
easat-8725	391	13	estimation	estimation	NOUN
easat-8725	391	14	and	and	CCONJ
easat-8725	391	15	inference	inference	NOUN
easat-8725	391	16	on	on	ADP
easat-8725	391	17	cointegration	cointegration	NOUN
easat-8725	391	18	—	—	PUNCT
easat-8725	391	19	with	with	ADP
easat-8725	391	20	applications	application	NOUN
easat-8725	391	21	to	to	ADP
easat-8725	391	22	the	the	DET
easat-8725	391	23	demand	demand	NOUN
easat-8725	391	24	for	for	ADP
easat-8725	391	25	money	money	NOUN
easat-8725	391	26	,	,	PUNCT
easat-8725	391	27	"	"	PUNCT
easat-8725	391	28	oxford	oxford	ADJ
easat-8725	391	29	bulletin	bulletin	NOUN
easat-8725	391	30	of	of	ADP
easat-8725	391	31	economics	economic	NOUN
easat-8725	391	32	and	and	CCONJ
easat-8725	391	33	statistics	statistic	NOUN
easat-8725	391	34	,	,	PUNCT
easat-8725	391	35	vol	vol	NOUN
easat-8725	391	36	.	.	PROPN
easat-8725	391	37	52	52	NUM
easat-8725	391	38	,	,	PUNCT
easat-8725	391	39	no	no	INTJ
easat-8725	391	40	.	.	NOUN
easat-8725	391	41	2	2	NUM
easat-8725	391	42	,	,	PUNCT
easat-8725	391	43	pp	pp	ADJ
easat-8725	391	44	.	.	PUNCT
easat-8725	391	45	169	169	NUM
easat-8725	391	46	–	–	PUNCT
easat-8725	391	47	210	210	NUM
easat-8725	391	48	,	,	PUNCT
easat-8725	391	49	1990	1990	NUM
easat-8725	391	50	.	.	PUNCT
easat-8725	392	1	[	[	X
easat-8725	392	2	35	35	NUM
easat-8725	392	3	]	]	X
easat-8725	392	4	j.	j.	PROPN
easat-8725	392	5	g.	g.	PROPN
easat-8725	392	6	mackinnon	mackinnon	PROPN
easat-8725	392	7	,	,	PUNCT
easat-8725	392	8	a.	a.	NOUN
easat-8725	392	9	a.	a.	NOUN
easat-8725	392	10	haug	haug	PROPN
easat-8725	392	11	,	,	PUNCT
easat-8725	392	12	and	and	CCONJ
easat-8725	392	13	l.	l.	PROPN
easat-8725	392	14	michelis	michelis	PROPN
easat-8725	392	15	,	,	PUNCT
easat-8725	392	16	"	"	PUNCT
easat-8725	392	17	numerical	numerical	ADJ
easat-8725	392	18	distribution	distribution	NOUN
easat-8725	392	19	functions	function	NOUN
easat-8725	392	20	of	of	ADP
easat-8725	392	21	likelihood	likelihood	NOUN
easat-8725	392	22	ratio	ratio	NOUN
easat-8725	392	23	tests	test	NOUN
easat-8725	392	24	for	for	ADP
easat-8725	392	25	cointegration	cointegration	NOUN
easat-8725	392	26	,	,	PUNCT
easat-8725	392	27	"	"	PUNCT
easat-8725	392	28	journal	journal	NOUN
easat-8725	392	29	of	of	ADP
easat-8725	392	30	applied	apply	VERB
easat-8725	392	31	econometrics	econometric	NOUN
easat-8725	392	32	,	,	PUNCT
easat-8725	392	33	vol	vol	NOUN
easat-8725	392	34	.	.	PROPN
easat-8725	393	1	14	14	NUM
easat-8725	393	2	,	,	PUNCT
easat-8725	393	3	no	no	INTJ
easat-8725	393	4	.	.	NOUN
easat-8725	393	5	5	5	NUM
easat-8725	393	6	,	,	PUNCT
easat-8725	393	7	pp	pp	ADJ
easat-8725	393	8	.	.	PUNCT
easat-8725	394	1	563–577	563–577	NUM
easat-8725	394	2	,	,	PUNCT
easat-8725	394	3	1999	1999	NUM
easat-8725	394	4	.	.	PUNCT
easat-8725	395	1	[	[	X
easat-8725	395	2	36	36	NUM
easat-8725	395	3	]	]	X
easat-8725	395	4	d.	d.	PROPN
easat-8725	395	5	n.	n.	PROPN
easat-8725	395	6	gujarati	gujarati	PROPN
easat-8725	395	7	and	and	CCONJ
easat-8725	395	8	d.	d.	PROPN
easat-8725	395	9	c.	c.	PROPN
easat-8725	395	10	porter	porter	PROPN
easat-8725	395	11	,	,	PUNCT
easat-8725	395	12	basic	basic	ADJ
easat-8725	395	13	econometrics	econometric	NOUN
easat-8725	395	14	,	,	PUNCT
easat-8725	395	15	5th	5th	ADJ
easat-8725	395	16	ed	ed	NOUN
easat-8725	395	17	.	.	PUNCT
easat-8725	396	1	new	new	PROPN
easat-8725	396	2	york	york	PROPN
easat-8725	396	3	:	:	PUNCT
easat-8725	396	4	mcgraw	mcgraw	PROPN
easat-8725	396	5	-	-	PUNCT
easat-8725	396	6	hill	hill	NOUN
easat-8725	396	7	education	education	NOUN
easat-8725	396	8	,	,	PUNCT
easat-8725	396	9	2009	2009	NUM
easat-8725	396	10	.	.	PUNCT