id	sid	tid	token	lemma	pos
ejge-8767	1	1	european	european	PROPN
ejge-8767	1	2	journal	journal	PROPN
ejge-8767	1	3	of	of	ADP
ejge-8767	1	4	government	government	NOUN
ejge-8767	1	5	and	and	CCONJ
ejge-8767	1	6	economics	economic	NOUN
ejge-8767	1	7	11(1	11(1	NUM
ejge-8767	1	8	)	)	PUNCT
ejge-8767	1	9	,	,	PUNCT
ejge-8767	1	10	june	june	PROPN
ejge-8767	1	11	2022	2022	NUM
ejge-8767	1	12	,	,	PUNCT
ejge-8767	1	13	31	31	NUM
ejge-8767	1	14	-	-	SYM
ejge-8767	1	15	50	50	NUM
ejge-8767	1	16	european	european	ADJ
ejge-8767	1	17	journal	journal	NOUN
ejge-8767	1	18	of	of	ADP
ejge-8767	1	19	government	government	NOUN
ejge-8767	1	20	and	and	CCONJ
ejge-8767	1	21	economics	economic	NOUN
ejge-8767	1	22	issn	issn	PROPN
ejge-8767	1	23	:	:	PUNCT
ejge-8767	1	24	2254	2254	NUM
ejge-8767	1	25	-	-	SYM
ejge-8767	1	26	7088	7088	NUM
ejge-8767	1	27	the	the	DET
ejge-8767	1	28	explanatory	explanatory	ADJ
ejge-8767	1	29	power	power	NOUN
ejge-8767	1	30	of	of	ADP
ejge-8767	1	31	expenses	expense	NOUN
ejge-8767	1	32	in	in	ADP
ejge-8767	1	33	the	the	DET
ejge-8767	1	34	performance	performance	NOUN
ejge-8767	1	35	of	of	ADP
ejge-8767	1	36	eurozone	eurozone	NOUN
ejge-8767	1	37	mutual	mutual	ADJ
ejge-8767	1	38	funds	fund	NOUN
ejge-8767	1	39	renato	renato	PROPN
ejge-8767	1	40	correia	correia	PROPN
ejge-8767	1	41	-	-	PUNCT
ejge-8767	1	42	domingues	domingue	NOUN
ejge-8767	1	43	a	a	PRON
ejge-8767	1	44	,	,	PUNCT
ejge-8767	1	45	*	*	PROPN
ejge-8767	1	46	,	,	PUNCT
ejge-8767	1	47	pablo	pablo	PROPN
ejge-8767	1	48	duran	duran	PROPN
ejge-8767	1	49	-	-	PUNCT
ejge-8767	1	50	santomil	santomil	PROPN
ejge-8767	1	51	b	b	PROPN
ejge-8767	1	52	,	,	PUNCT
ejge-8767	1	53	luis	luis	PROPN
ejge-8767	1	54	otero	otero	PROPN
ejge-8767	1	55	-	-	PUNCT
ejge-8767	1	56	gonzalez	gonzalez	PROPN
ejge-8767	1	57	a	a	DET
ejge-8767	1	58	a	a	DET
ejge-8767	1	59	polytechnic	polytechnic	ADJ
ejge-8767	1	60	institute	institute	NOUN
ejge-8767	1	61	of	of	ADP
ejge-8767	1	62	tomar	tomar	PROPN
ejge-8767	1	63	,	,	PUNCT
ejge-8767	1	64	portugal	portugal	PROPN
ejge-8767	1	65	b	b	PROPN
ejge-8767	1	66	university	university	PROPN
ejge-8767	1	67	of	of	ADP
ejge-8767	1	68	santiago	santiago	PROPN
ejge-8767	1	69	of	of	ADP
ejge-8767	1	70	compostela	compostela	PROPN
ejge-8767	1	71	,	,	PUNCT
ejge-8767	1	72	spain	spain	PROPN
ejge-8767	1	73	*	*	PUNCT
ejge-8767	1	74	corresponding	correspond	VERB
ejge-8767	1	75	author	author	NOUN
ejge-8767	1	76	at	at	ADP
ejge-8767	1	77	:	:	PUNCT
ejge-8767	1	78	renatodomus@hotmail.com	renatodomus@hotmail.com	X
ejge-8767	1	79	abstract	abstract	NOUN
ejge-8767	1	80	.	.	PUNCT
ejge-8767	2	1	we	we	PRON
ejge-8767	2	2	studied	study	VERB
ejge-8767	2	3	the	the	DET
ejge-8767	2	4	relationship	relationship	NOUN
ejge-8767	2	5	between	between	ADP
ejge-8767	2	6	the	the	DET
ejge-8767	2	7	mutual	mutual	ADJ
ejge-8767	2	8	fund	fund	NOUN
ejge-8767	2	9	’s	’s	PART
ejge-8767	2	10	expenses	expense	NOUN
ejge-8767	2	11	and	and	CCONJ
ejge-8767	2	12	their	their	PRON
ejge-8767	2	13	profitability	profitability	NOUN
ejge-8767	2	14	,	,	PUNCT
ejge-8767	2	15	as	as	ADV
ejge-8767	2	16	well	well	ADV
ejge-8767	2	17	as	as	ADP
ejge-8767	2	18	their	their	PRON
ejge-8767	2	19	ability	ability	NOUN
ejge-8767	2	20	to	to	PART
ejge-8767	2	21	predict	predict	VERB
ejge-8767	2	22	future	future	ADJ
ejge-8767	2	23	performance	performance	NOUN
ejge-8767	2	24	.	.	PUNCT
ejge-8767	3	1	we	we	PRON
ejge-8767	3	2	used	use	VERB
ejge-8767	3	3	regressions	regression	NOUN
ejge-8767	3	4	in	in	ADP
ejge-8767	3	5	panel	panel	NOUN
ejge-8767	3	6	data	datum	NOUN
ejge-8767	3	7	with	with	ADP
ejge-8767	3	8	a	a	DET
ejge-8767	3	9	sample	sample	NOUN
ejge-8767	3	10	of	of	ADP
ejge-8767	3	11	equity	equity	NOUN
ejge-8767	3	12	mutual	mutual	ADJ
ejge-8767	3	13	funds	fund	NOUN
ejge-8767	3	14	of	of	ADP
ejge-8767	3	15	the	the	DET
ejge-8767	3	16	eurozone	eurozone	NOUN
ejge-8767	3	17	area	area	NOUN
ejge-8767	3	18	from	from	ADP
ejge-8767	3	19	2003	2003	NUM
ejge-8767	3	20	to	to	ADP
ejge-8767	3	21	2014	2014	NUM
ejge-8767	3	22	.	.	PUNCT
ejge-8767	4	1	we	we	PRON
ejge-8767	4	2	concluded	conclude	VERB
ejge-8767	4	3	that	that	SCONJ
ejge-8767	4	4	expenses	expense	NOUN
ejge-8767	4	5	are	be	AUX
ejge-8767	4	6	an	an	DET
ejge-8767	4	7	important	important	ADJ
ejge-8767	4	8	determinant	determinant	NOUN
ejge-8767	4	9	of	of	ADP
ejge-8767	4	10	performance	performance	NOUN
ejge-8767	4	11	in	in	ADP
ejge-8767	4	12	the	the	DET
ejge-8767	4	13	eurozone	eurozone	NOUN
ejge-8767	4	14	and	and	CCONJ
ejge-8767	4	15	we	we	PRON
ejge-8767	4	16	show	show	VERB
ejge-8767	4	17	evidence	evidence	NOUN
ejge-8767	4	18	that	that	SCONJ
ejge-8767	4	19	there	there	PRON
ejge-8767	4	20	is	be	VERB
ejge-8767	4	21	,	,	PUNCT
ejge-8767	4	22	in	in	ADP
ejge-8767	4	23	the	the	DET
ejge-8767	4	24	short	short	ADJ
ejge-8767	4	25	-	-	PUNCT
ejge-8767	4	26	term	term	NOUN
ejge-8767	4	27	,	,	PUNCT
ejge-8767	4	28	a	a	DET
ejge-8767	4	29	negative	negative	ADJ
ejge-8767	4	30	relationship	relationship	NOUN
ejge-8767	4	31	between	between	ADP
ejge-8767	4	32	the	the	DET
ejge-8767	4	33	profitability	profitability	NOUN
ejge-8767	4	34	of	of	ADP
ejge-8767	4	35	the	the	DET
ejge-8767	4	36	year	year	NOUN
ejge-8767	4	37	and	and	CCONJ
ejge-8767	4	38	the	the	DET
ejge-8767	4	39	level	level	NOUN
ejge-8767	4	40	of	of	ADP
ejge-8767	4	41	expenses	expense	NOUN
ejge-8767	4	42	of	of	ADP
ejge-8767	4	43	the	the	DET
ejge-8767	4	44	fund	fund	NOUN
ejge-8767	4	45	.	.	PUNCT
ejge-8767	5	1	furthermore	furthermore	ADV
ejge-8767	5	2	,	,	PUNCT
ejge-8767	5	3	there	there	PRON
ejge-8767	5	4	is	be	VERB
ejge-8767	5	5	also	also	ADV
ejge-8767	5	6	a	a	DET
ejge-8767	5	7	relationship	relationship	NOUN
ejge-8767	5	8	between	between	ADP
ejge-8767	5	9	the	the	DET
ejge-8767	5	10	profitability	profitability	NOUN
ejge-8767	5	11	of	of	ADP
ejge-8767	5	12	mutual	mutual	ADJ
ejge-8767	5	13	funds	fund	NOUN
ejge-8767	5	14	with	with	ADP
ejge-8767	5	15	their	their	PRON
ejge-8767	5	16	level	level	NOUN
ejge-8767	5	17	of	of	ADP
ejge-8767	5	18	expenses	expense	NOUN
ejge-8767	5	19	after	after	ADP
ejge-8767	5	20	one	one	NUM
ejge-8767	5	21	and	and	CCONJ
ejge-8767	5	22	three	three	NUM
ejge-8767	5	23	years	year	NOUN
ejge-8767	5	24	.	.	PUNCT
ejge-8767	6	1	on	on	ADP
ejge-8767	6	2	the	the	DET
ejge-8767	6	3	other	other	ADJ
ejge-8767	6	4	hand	hand	NOUN
ejge-8767	6	5	,	,	PUNCT
ejge-8767	6	6	by	by	ADP
ejge-8767	6	7	applying	apply	VERB
ejge-8767	6	8	the	the	DET
ejge-8767	6	9	quantile	quantile	ADJ
ejge-8767	6	10	regression	regression	NOUN
ejge-8767	6	11	,	,	PUNCT
ejge-8767	6	12	it	it	PRON
ejge-8767	6	13	seems	seem	VERB
ejge-8767	6	14	clear	clear	ADJ
ejge-8767	6	15	that	that	SCONJ
ejge-8767	6	16	the	the	DET
ejge-8767	6	17	funds	fund	NOUN
ejge-8767	6	18	with	with	ADP
ejge-8767	6	19	the	the	DET
ejge-8767	6	20	highest	high	ADJ
ejge-8767	6	21	returns	return	NOUN
ejge-8767	6	22	have	have	VERB
ejge-8767	6	23	a	a	DET
ejge-8767	6	24	positive	positive	ADJ
ejge-8767	6	25	relationship	relationship	NOUN
ejge-8767	6	26	with	with	ADP
ejge-8767	6	27	the	the	DET
ejge-8767	6	28	level	level	NOUN
ejge-8767	6	29	of	of	ADP
ejge-8767	6	30	expenses	expense	NOUN
ejge-8767	6	31	.	.	PUNCT
ejge-8767	7	1	keywords	keyword	NOUN
ejge-8767	7	2	.	.	PUNCT
ejge-8767	8	1	mutual	mutual	ADJ
ejge-8767	8	2	funds	fund	NOUN
ejge-8767	8	3	,	,	PUNCT
ejge-8767	8	4	expenses	expense	NOUN
ejge-8767	8	5	,	,	PUNCT
ejge-8767	8	6	performance	performance	NOUN
ejge-8767	8	7	,	,	PUNCT
ejge-8767	8	8	ratings	rating	NOUN
ejge-8767	8	9	jel	jel	PROPN
ejge-8767	8	10	codes	code	NOUN
ejge-8767	8	11	.	.	PUNCT
ejge-8767	9	1	g20	g20	NOUN
ejge-8767	9	2	;	;	PUNCT
ejge-8767	9	3	g23	g23	NOUN
ejge-8767	9	4	;	;	PUNCT
ejge-8767	9	5	g28	g28	NOUN
ejge-8767	9	6	doi	doi	NOUN
ejge-8767	9	7	.	.	PUNCT
ejge-8767	9	8	https://doi.org/10.17979/ejge.2022.11.1.8767	https://doi.org/10.17979/ejge.2022.11.1.8767	PRON
ejge-8767	9	9	1	1	NUM
ejge-8767	9	10	.	.	PUNCT
ejge-8767	9	11	introduction	introduction	NOUN
ejge-8767	9	12	the	the	DET
ejge-8767	9	13	financial	financial	ADJ
ejge-8767	9	14	performance	performance	NOUN
ejge-8767	9	15	of	of	ADP
ejge-8767	9	16	mutual	mutual	ADJ
ejge-8767	9	17	funds	fund	NOUN
ejge-8767	9	18	has	have	AUX
ejge-8767	9	19	been	be	AUX
ejge-8767	9	20	widely	widely	ADV
ejge-8767	9	21	discussed	discuss	VERB
ejge-8767	9	22	in	in	ADP
ejge-8767	9	23	the	the	DET
ejge-8767	9	24	literature	literature	NOUN
ejge-8767	9	25	,	,	PUNCT
ejge-8767	9	26	and	and	CCONJ
ejge-8767	9	27	this	this	DET
ejge-8767	9	28	kind	kind	NOUN
ejge-8767	9	29	of	of	ADP
ejge-8767	9	30	product	product	NOUN
ejge-8767	9	31	has	have	AUX
ejge-8767	9	32	acquired	acquire	VERB
ejge-8767	9	33	great	great	ADJ
ejge-8767	9	34	importance	importance	NOUN
ejge-8767	9	35	for	for	ADP
ejge-8767	9	36	investors	investor	NOUN
ejge-8767	9	37	and	and	CCONJ
ejge-8767	9	38	savers	saver	NOUN
ejge-8767	9	39	.	.	PUNCT
ejge-8767	10	1	there	there	PRON
ejge-8767	10	2	is	be	VERB
ejge-8767	10	3	a	a	DET
ejge-8767	10	4	debate	debate	NOUN
ejge-8767	10	5	around	around	ADP
ejge-8767	10	6	the	the	DET
ejge-8767	10	7	management	management	NOUN
ejge-8767	10	8	value	value	NOUN
ejge-8767	10	9	added	add	VERB
ejge-8767	10	10	mutual	mutual	ADJ
ejge-8767	10	11	funds	fund	NOUN
ejge-8767	10	12	and	and	CCONJ
ejge-8767	10	13	expenses	expense	NOUN
ejge-8767	10	14	,	,	PUNCT
ejge-8767	10	15	and	and	CCONJ
ejge-8767	10	16	the	the	DET
ejge-8767	10	17	funds	fund	NOUN
ejge-8767	10	18	with	with	ADP
ejge-8767	10	19	the	the	DET
ejge-8767	10	20	largest	large	ADJ
ejge-8767	10	21	expenditures	expenditure	NOUN
ejge-8767	10	22	can	can	AUX
ejge-8767	10	23	bring	bring	VERB
ejge-8767	10	24	value	value	NOUN
ejge-8767	10	25	to	to	ADP
ejge-8767	10	26	the	the	DET
ejge-8767	10	27	investors	investor	NOUN
ejge-8767	10	28	/	/	SYM
ejge-8767	10	29	savers	saver	NOUN
ejge-8767	10	30	,	,	PUNCT
ejge-8767	10	31	which	which	PRON
ejge-8767	10	32	has	have	AUX
ejge-8767	10	33	led	lead	VERB
ejge-8767	10	34	to	to	ADP
ejge-8767	10	35	a	a	DET
ejge-8767	10	36	debate	debate	NOUN
ejge-8767	10	37	between	between	ADP
ejge-8767	10	38	active	active	ADJ
ejge-8767	10	39	and	and	CCONJ
ejge-8767	10	40	passive	passive	ADJ
ejge-8767	10	41	management	management	NOUN
ejge-8767	10	42	in	in	ADP
ejge-8767	10	43	the	the	DET
ejge-8767	10	44	industry	industry	NOUN
ejge-8767	10	45	.	.	PUNCT
ejge-8767	11	1	this	this	DET
ejge-8767	11	2	debate	debate	NOUN
ejge-8767	11	3	is	be	AUX
ejge-8767	11	4	related	relate	VERB
ejge-8767	11	5	to	to	ADP
ejge-8767	11	6	agency	agency	NOUN
ejge-8767	11	7	theory	theory	NOUN
ejge-8767	11	8	,	,	PUNCT
ejge-8767	11	9	since	since	SCONJ
ejge-8767	11	10	in	in	ADP
ejge-8767	11	11	many	many	ADJ
ejge-8767	11	12	funds	fund	NOUN
ejge-8767	11	13	the	the	DET
ejge-8767	11	14	returns	return	NOUN
ejge-8767	11	15	of	of	ADP
ejge-8767	11	16	investors	investor	NOUN
ejge-8767	11	17	are	be	AUX
ejge-8767	11	18	against	against	ADP
ejge-8767	11	19	the	the	DET
ejge-8767	11	20	returns	return	NOUN
ejge-8767	11	21	of	of	ADP
ejge-8767	11	22	the	the	DET
ejge-8767	11	23	managers	manager	NOUN
ejge-8767	11	24	.	.	PUNCT
ejge-8767	12	1	authors	author	NOUN
ejge-8767	12	2	such	such	ADJ
ejge-8767	12	3	as	as	ADP
ejge-8767	12	4	gruber	gruber	PROPN
ejge-8767	12	5	(	(	PUNCT
ejge-8767	12	6	1996	1996	NUM
ejge-8767	12	7	)	)	PUNCT
ejge-8767	12	8	,	,	PUNCT
ejge-8767	12	9	livingston	livingston	PROPN
ejge-8767	12	10	and	and	CCONJ
ejge-8767	12	11	o'neal	o'neal	PROPN
ejge-8767	12	12	(	(	PUNCT
ejge-8767	12	13	1996	1996	NUM
ejge-8767	12	14	)	)	PUNCT
ejge-8767	12	15	,	,	PUNCT
ejge-8767	12	16	capon	capon	NOUN
ejge-8767	12	17	,	,	PUNCT
ejge-8767	12	18	fitzsimons	fitzsimon	NOUN
ejge-8767	12	19	and	and	CCONJ
ejge-8767	12	20	prince	prince	PROPN
ejge-8767	12	21	(	(	PUNCT
ejge-8767	12	22	1996	1996	NUM
ejge-8767	12	23	)	)	PUNCT
ejge-8767	12	24	,	,	PUNCT
ejge-8767	12	25	carhart	carhart	NOUN
ejge-8767	12	26	(	(	PUNCT
ejge-8767	12	27	1997	1997	NUM
ejge-8767	12	28	)	)	PUNCT
ejge-8767	12	29	,	,	PUNCT
ejge-8767	12	30	alexander	alexander	PROPN
ejge-8767	12	31	,	,	PUNCT
ejge-8767	12	32	jones	jones	PROPN
ejge-8767	12	33	and	and	CCONJ
ejge-8767	12	34	nigro	nigro	NOUN
ejge-8767	12	35	(	(	PUNCT
ejge-8767	12	36	1998	1998	NUM
ejge-8767	12	37	)	)	PUNCT
ejge-8767	12	38	,	,	PUNCT
ejge-8767	12	39	sirri	sirri	NOUN
ejge-8767	12	40	and	and	CCONJ
ejge-8767	12	41	tufano	tufano	ADJ
ejge-8767	12	42	(	(	PUNCT
ejge-8767	12	43	1998	1998	NUM
ejge-8767	12	44	)	)	PUNCT
ejge-8767	12	45	or	or	CCONJ
ejge-8767	12	46	chalmers	chalmer	NOUN
ejge-8767	12	47	,	,	PUNCT
ejge-8767	12	48	edelen	edelen	ADJ
ejge-8767	12	49	and	and	CCONJ
ejge-8767	12	50	kadlec	kadlec	PROPN
ejge-8767	12	51	(	(	PUNCT
ejge-8767	12	52	1999	1999	NUM
ejge-8767	12	53	)	)	PUNCT
ejge-8767	12	54	document	document	NOUN
ejge-8767	12	55	the	the	DET
ejge-8767	12	56	negative	negative	ADJ
ejge-8767	12	57	relationship	relationship	NOUN
ejge-8767	12	58	of	of	ADP
ejge-8767	12	59	expenses	expense	NOUN
ejge-8767	12	60	with	with	ADP
ejge-8767	12	61	the	the	DET
ejge-8767	12	62	performance	performance	NOUN
ejge-8767	12	63	of	of	ADP
ejge-8767	12	64	funds	fund	NOUN
ejge-8767	12	65	,	,	PUNCT
ejge-8767	12	66	verifying	verify	VERB
ejge-8767	12	67	those	those	DET
ejge-8767	12	68	managers	manager	NOUN
ejge-8767	12	69	rarely	rarely	ADV
ejge-8767	12	70	manage	manage	VERB
ejge-8767	12	71	to	to	PART
ejge-8767	12	72	beat	beat	VERB
ejge-8767	12	73	the	the	DET
ejge-8767	12	74	market	market	NOUN
ejge-8767	12	75	after	after	ADP
ejge-8767	12	76	discounting	discount	VERB
ejge-8767	12	77	costs	cost	NOUN
ejge-8767	12	78	to	to	ADP
ejge-8767	12	79	gross	gross	ADJ
ejge-8767	12	80	returns	return	NOUN
ejge-8767	12	81	.	.	PUNCT
ejge-8767	13	1	on	on	ADP
ejge-8767	13	2	the	the	DET
ejge-8767	13	3	other	other	ADJ
ejge-8767	13	4	hand	hand	NOUN
ejge-8767	13	5	,	,	PUNCT
ejge-8767	13	6	more	more	ADV
ejge-8767	13	7	recent	recent	ADJ
ejge-8767	13	8	studies	study	NOUN
ejge-8767	13	9	support	support	VERB
ejge-8767	13	10	that	that	SCONJ
ejge-8767	13	11	management	management	NOUN
ejge-8767	13	12	expenses	expense	NOUN
ejge-8767	13	13	may	may	AUX
ejge-8767	13	14	represent	represent	VERB
ejge-8767	13	15	a	a	DET
ejge-8767	13	16	contribution	contribution	NOUN
ejge-8767	13	17	to	to	ADP
ejge-8767	13	18	management	management	NOUN
ejge-8767	13	19	if	if	SCONJ
ejge-8767	13	20	the	the	DET
ejge-8767	13	21	fund	fund	NOUN
ejge-8767	13	22	portfolio	portfolio	NOUN
ejge-8767	13	23	differs	differ	VERB
ejge-8767	13	24	from	from	ADP
ejge-8767	13	25	the	the	DET
ejge-8767	13	26	market	market	NOUN
ejge-8767	13	27	index	index	NOUN
ejge-8767	13	28	.	.	PUNCT
ejge-8767	14	1	studies	study	NOUN
ejge-8767	14	2	such	such	ADJ
ejge-8767	14	3	as	as	ADP
ejge-8767	14	4	those	those	PRON
ejge-8767	14	5	carried	carry	VERB
ejge-8767	14	6	out	out	ADP
ejge-8767	14	7	by	by	ADP
ejge-8767	14	8	cremers	cremer	NOUN
ejge-8767	14	9	and	and	CCONJ
ejge-8767	14	10	petajisto	petajisto	NOUN
ejge-8767	14	11	(	(	PUNCT
ejge-8767	14	12	2009	2009	NUM
ejge-8767	14	13	)	)	PUNCT
ejge-8767	14	14	or	or	CCONJ
ejge-8767	14	15	petajisto	petajisto	NOUN
ejge-8767	14	16	(	(	PUNCT
ejge-8767	14	17	2013	2013	NUM
ejge-8767	14	18	)	)	PUNCT
ejge-8767	14	19	conclude	conclude	VERB
ejge-8767	14	20	that	that	SCONJ
ejge-8767	14	21	the	the	DET
ejge-8767	14	22	most	most	ADV
ejge-8767	14	23	active	active	ADJ
ejge-8767	14	24	funds	fund	NOUN
ejge-8767	14	25	(	(	PUNCT
ejge-8767	14	26	which	which	PRON
ejge-8767	14	27	therefore	therefore	ADV
ejge-8767	14	28	differ	differ	VERB
ejge-8767	14	29	from	from	ADP
ejge-8767	14	30	the	the	DET
ejge-8767	14	31	market	market	NOUN
ejge-8767	14	32	)	)	PUNCT
ejge-8767	14	33	have	have	AUX
ejge-8767	14	34	outperformed	outperform	VERB
ejge-8767	14	35	their	their	PRON
ejge-8767	14	36	benchmarks	benchmark	NOUN
ejge-8767	14	37	even	even	ADV
ejge-8767	14	38	©	©	PROPN
ejge-8767	14	39	2022	2022	NUM
ejge-8767	14	40	.	.	PUNCT
ejge-8767	15	1	this	this	DET
ejge-8767	15	2	work	work	NOUN
ejge-8767	15	3	is	be	AUX
ejge-8767	15	4	licensed	license	VERB
ejge-8767	15	5	under	under	ADP
ejge-8767	15	6	a	a	DET
ejge-8767	15	7	cc	cc	NOUN
ejge-8767	15	8	by	by	ADP
ejge-8767	15	9	-	-	PUNCT
ejge-8767	15	10	nc	nc	PROPN
ejge-8767	15	11	4.0	4.0	NUM
ejge-8767	15	12	license	license	NOUN
ejge-8767	15	13	.	.	PUNCT
ejge-8767	16	1	mailto:renatodomus@hotmail.com	mailto:renatodomus@hotmail.com	X
ejge-8767	16	2	https://doi.org/10.17979/ejge.2022.11.1.8767	https://doi.org/10.17979/ejge.2022.11.1.8767	PROPN
ejge-8767	17	1	https://creativecommons.org/licenses/by-nc/4.0/	https://creativecommons.org/licenses/by-nc/4.0/	DET
ejge-8767	17	2	renato	renato	PROPN
ejge-8767	17	3	correia	correia	PROPN
ejge-8767	17	4	-	-	PUNCT
ejge-8767	17	5	domingues	domingue	NOUN
ejge-8767	17	6	et	et	PROPN
ejge-8767	17	7	al	al	PROPN
ejge-8767	17	8	.	.	PUNCT
ejge-8767	17	9	/	/	SYM
ejge-8767	17	10	european	european	PROPN
ejge-8767	17	11	journal	journal	PROPN
ejge-8767	17	12	of	of	ADP
ejge-8767	17	13	government	government	NOUN
ejge-8767	17	14	and	and	CCONJ
ejge-8767	17	15	economics	economic	NOUN
ejge-8767	17	16	11(1	11(1	NUM
ejge-8767	17	17	)	)	PUNCT
ejge-8767	17	18	,	,	PUNCT
ejge-8767	17	19	june	june	PROPN
ejge-8767	17	20	2022	2022	NUM
ejge-8767	17	21	,	,	PUNCT
ejge-8767	17	22	31	31	NUM
ejge-8767	17	23	-	-	SYM
ejge-8767	17	24	50	50	NUM
ejge-8767	17	25	32	32	NUM
ejge-8767	17	26	after	after	ADP
ejge-8767	17	27	taking	take	VERB
ejge-8767	17	28	costs	cost	NOUN
ejge-8767	17	29	into	into	ADP
ejge-8767	17	30	account	account	NOUN
ejge-8767	17	31	.	.	PUNCT
ejge-8767	18	1	the	the	DET
ejge-8767	18	2	objective	objective	NOUN
ejge-8767	18	3	of	of	ADP
ejge-8767	18	4	this	this	DET
ejge-8767	18	5	study	study	NOUN
ejge-8767	18	6	is	be	AUX
ejge-8767	18	7	to	to	PART
ejge-8767	18	8	understand	understand	VERB
ejge-8767	18	9	the	the	DET
ejge-8767	18	10	role	role	NOUN
ejge-8767	18	11	of	of	ADP
ejge-8767	18	12	expenses	expense	NOUN
ejge-8767	18	13	on	on	ADP
ejge-8767	18	14	euro	euro	NOUN
ejge-8767	18	15	zone	zone	NOUN
ejge-8767	18	16	funds	fund	NOUN
ejge-8767	18	17	for	for	ADP
ejge-8767	18	18	predicting	predict	VERB
ejge-8767	18	19	future	future	ADJ
ejge-8767	18	20	performance	performance	NOUN
ejge-8767	18	21	in	in	ADP
ejge-8767	18	22	the	the	DET
ejge-8767	18	23	short	short	ADJ
ejge-8767	18	24	and	and	CCONJ
ejge-8767	18	25	long	long	ADJ
ejge-8767	18	26	term	term	NOUN
ejge-8767	18	27	or	or	CCONJ
ejge-8767	18	28	if	if	SCONJ
ejge-8767	18	29	they	they	PRON
ejge-8767	18	30	affect	affect	VERB
ejge-8767	18	31	current	current	ADJ
ejge-8767	18	32	performance	performance	NOUN
ejge-8767	18	33	.	.	PUNCT
ejge-8767	19	1	this	this	DET
ejge-8767	19	2	study	study	NOUN
ejge-8767	19	3	brings	bring	VERB
ejge-8767	19	4	several	several	ADJ
ejge-8767	19	5	contributions	contribution	NOUN
ejge-8767	19	6	to	to	ADP
ejge-8767	19	7	the	the	DET
ejge-8767	19	8	literature	literature	NOUN
ejge-8767	19	9	.	.	PUNCT
ejge-8767	20	1	firstly	firstly	ADV
ejge-8767	20	2	,	,	PUNCT
ejge-8767	20	3	we	we	PRON
ejge-8767	20	4	use	use	VERB
ejge-8767	20	5	a	a	DET
ejge-8767	20	6	data	data	NOUN
ejge-8767	20	7	sample	sample	NOUN
ejge-8767	20	8	for	for	ADP
ejge-8767	20	9	the	the	DET
ejge-8767	20	10	eurozone	eurozone	NOUN
ejge-8767	20	11	,	,	PUNCT
ejge-8767	20	12	knowing	know	VERB
ejge-8767	20	13	that	that	SCONJ
ejge-8767	20	14	the	the	DET
ejge-8767	20	15	economic	economic	ADJ
ejge-8767	20	16	area	area	NOUN
ejge-8767	20	17	is	be	AUX
ejge-8767	20	18	a	a	DET
ejge-8767	20	19	fundamental	fundamental	ADJ
ejge-8767	20	20	determinant	determinant	ADJ
ejge-8767	20	21	in	in	ADP
ejge-8767	20	22	the	the	DET
ejge-8767	20	23	performance	performance	NOUN
ejge-8767	20	24	of	of	ADP
ejge-8767	20	25	the	the	DET
ejge-8767	20	26	funds	fund	NOUN
ejge-8767	20	27	(	(	PUNCT
ejge-8767	20	28	see	see	VERB
ejge-8767	20	29	,	,	PUNCT
ejge-8767	20	30	for	for	ADP
ejge-8767	20	31	example	example	NOUN
ejge-8767	20	32	,	,	PUNCT
ejge-8767	20	33	ferreira	ferreira	PROPN
ejge-8767	20	34	,	,	PUNCT
ejge-8767	20	35	keswani	keswani	PROPN
ejge-8767	20	36	,	,	PUNCT
ejge-8767	20	37	miguel	miguel	PROPN
ejge-8767	20	38	and	and	CCONJ
ejge-8767	20	39	ramos	ramos	PROPN
ejge-8767	20	40	2012	2012	NUM
ejge-8767	20	41	)	)	PUNCT
ejge-8767	20	42	,	,	PUNCT
ejge-8767	20	43	and	and	CCONJ
ejge-8767	20	44	since	since	SCONJ
ejge-8767	20	45	most	most	ADJ
ejge-8767	20	46	of	of	ADP
ejge-8767	20	47	the	the	DET
ejge-8767	20	48	studies	study	NOUN
ejge-8767	20	49	have	have	AUX
ejge-8767	20	50	been	be	AUX
ejge-8767	20	51	carried	carry	VERB
ejge-8767	20	52	out	out	ADP
ejge-8767	20	53	for	for	ADP
ejge-8767	20	54	the	the	DET
ejge-8767	20	55	american	american	ADJ
ejge-8767	20	56	or	or	CCONJ
ejge-8767	20	57	british	british	ADJ
ejge-8767	20	58	market	market	NOUN
ejge-8767	20	59	.	.	PUNCT
ejge-8767	21	1	secondly	secondly	ADV
ejge-8767	21	2	,	,	PUNCT
ejge-8767	21	3	we	we	PRON
ejge-8767	21	4	use	use	VERB
ejge-8767	21	5	a	a	DET
ejge-8767	21	6	metric	metric	ADJ
ejge-8767	21	7	widely	widely	ADV
ejge-8767	21	8	used	use	VERB
ejge-8767	21	9	in	in	ADP
ejge-8767	21	10	studies	study	NOUN
ejge-8767	21	11	of	of	ADP
ejge-8767	21	12	mutual	mutual	ADJ
ejge-8767	21	13	funds	fund	NOUN
ejge-8767	21	14	,	,	PUNCT
ejge-8767	21	15	but	but	CCONJ
ejge-8767	21	16	little	little	ADJ
ejge-8767	21	17	used	use	VERB
ejge-8767	21	18	in	in	ADP
ejge-8767	21	19	studies	study	NOUN
ejge-8767	21	20	that	that	PRON
ejge-8767	21	21	analyse	analyse	VERB
ejge-8767	21	22	the	the	DET
ejge-8767	21	23	role	role	NOUN
ejge-8767	21	24	of	of	ADP
ejge-8767	21	25	expenses	expense	NOUN
ejge-8767	21	26	(	(	PUNCT
ejge-8767	21	27	4	4	NUM
ejge-8767	21	28	-	-	PUNCT
ejge-8767	21	29	factor	factor	NOUN
ejge-8767	21	30	alpha	alpha	NOUN
ejge-8767	21	31	)	)	PUNCT
ejge-8767	21	32	,	,	PUNCT
ejge-8767	21	33	in	in	ADP
ejge-8767	21	34	addition	addition	NOUN
ejge-8767	21	35	to	to	ADP
ejge-8767	21	36	other	other	ADJ
ejge-8767	21	37	more	more	ADV
ejge-8767	21	38	traditional	traditional	ADJ
ejge-8767	21	39	ones	one	NOUN
ejge-8767	21	40	(	(	PUNCT
ejge-8767	21	41	sharpe	sharpe	NOUN
ejge-8767	21	42	,	,	PUNCT
ejge-8767	21	43	sortino	sortino	NOUN
ejge-8767	21	44	and	and	CCONJ
ejge-8767	21	45	returns	return	VERB
ejge-8767	21	46	net	net	ADJ
ejge-8767	21	47	)	)	PUNCT
ejge-8767	21	48	.	.	PUNCT
ejge-8767	22	1	in	in	ADP
ejge-8767	22	2	third	third	ADJ
ejge-8767	22	3	place	place	NOUN
ejge-8767	22	4	,	,	PUNCT
ejge-8767	22	5	we	we	PRON
ejge-8767	22	6	carry	carry	VERB
ejge-8767	22	7	out	out	ADP
ejge-8767	22	8	an	an	DET
ejge-8767	22	9	analysis	analysis	NOUN
ejge-8767	22	10	for	for	ADP
ejge-8767	22	11	the	the	DET
ejge-8767	22	12	main	main	ADJ
ejge-8767	22	13	categories	category	NOUN
ejge-8767	22	14	of	of	ADP
ejge-8767	22	15	mutual	mutual	ADJ
ejge-8767	22	16	funds	fund	NOUN
ejge-8767	22	17	in	in	ADP
ejge-8767	22	18	the	the	DET
ejge-8767	22	19	euro	euro	NOUN
ejge-8767	22	20	zone	zone	NOUN
ejge-8767	22	21	.	.	PUNCT
ejge-8767	23	1	many	many	ADJ
ejge-8767	23	2	previous	previous	ADJ
ejge-8767	23	3	studies	study	NOUN
ejge-8767	23	4	do	do	AUX
ejge-8767	23	5	not	not	PART
ejge-8767	23	6	consider	consider	VERB
ejge-8767	23	7	category	category	NOUN
ejge-8767	23	8	differences	difference	NOUN
ejge-8767	23	9	which	which	PRON
ejge-8767	23	10	can	can	AUX
ejge-8767	23	11	influence	influence	VERB
ejge-8767	23	12	their	their	PRON
ejge-8767	23	13	results	result	NOUN
ejge-8767	23	14	and	and	CCONJ
ejge-8767	23	15	focus	focus	VERB
ejge-8767	23	16	their	their	PRON
ejge-8767	23	17	analysis	analysis	NOUN
ejge-8767	23	18	on	on	ADP
ejge-8767	23	19	the	the	DET
ejge-8767	23	20	american	american	ADJ
ejge-8767	23	21	market	market	NOUN
ejge-8767	23	22	.	.	PUNCT
ejge-8767	24	1	fourth	fourth	ADJ
ejge-8767	24	2	,	,	PUNCT
ejge-8767	24	3	we	we	PRON
ejge-8767	24	4	use	use	VERB
ejge-8767	24	5	different	different	ADJ
ejge-8767	24	6	econometric	econometric	ADJ
ejge-8767	24	7	techniques	technique	NOUN
ejge-8767	24	8	,	,	PUNCT
ejge-8767	24	9	including	include	VERB
ejge-8767	24	10	quantile	quantile	ADJ
ejge-8767	24	11	regression	regression	NOUN
ejge-8767	24	12	for	for	ADP
ejge-8767	24	13	the	the	DET
ejge-8767	24	14	panel	panel	NOUN
ejge-8767	24	15	data	datum	NOUN
ejge-8767	24	16	,	,	PUNCT
ejge-8767	24	17	to	to	PART
ejge-8767	24	18	show	show	VERB
ejge-8767	24	19	the	the	DET
ejge-8767	24	20	complex	complex	ADJ
ejge-8767	24	21	relationship	relationship	NOUN
ejge-8767	24	22	that	that	PRON
ejge-8767	24	23	may	may	AUX
ejge-8767	24	24	exist	exist	VERB
ejge-8767	24	25	between	between	ADP
ejge-8767	24	26	expenses	expense	NOUN
ejge-8767	24	27	and	and	CCONJ
ejge-8767	24	28	returns	return	NOUN
ejge-8767	24	29	.	.	PUNCT
ejge-8767	25	1	therefore	therefore	ADV
ejge-8767	25	2	,	,	PUNCT
ejge-8767	25	3	this	this	DET
ejge-8767	25	4	study	study	NOUN
ejge-8767	25	5	is	be	AUX
ejge-8767	25	6	not	not	PART
ejge-8767	25	7	only	only	ADV
ejge-8767	25	8	of	of	ADP
ejge-8767	25	9	interest	interest	NOUN
ejge-8767	25	10	to	to	ADP
ejge-8767	25	11	the	the	DET
ejge-8767	25	12	scientific	scientific	ADJ
ejge-8767	25	13	community	community	NOUN
ejge-8767	25	14	,	,	PUNCT
ejge-8767	25	15	but	but	CCONJ
ejge-8767	25	16	also	also	ADV
ejge-8767	25	17	to	to	ADP
ejge-8767	25	18	professionals	professional	NOUN
ejge-8767	25	19	,	,	PUNCT
ejge-8767	25	20	investors	investor	NOUN
ejge-8767	25	21	,	,	PUNCT
ejge-8767	25	22	researchers	researcher	NOUN
ejge-8767	25	23	,	,	PUNCT
ejge-8767	25	24	and	and	CCONJ
ejge-8767	25	25	financial	financial	ADJ
ejge-8767	25	26	advisers	adviser	NOUN
ejge-8767	25	27	.	.	PUNCT
ejge-8767	26	1	the	the	DET
ejge-8767	26	2	work	work	NOUN
ejge-8767	26	3	is	be	AUX
ejge-8767	26	4	structured	structure	VERB
ejge-8767	26	5	as	as	SCONJ
ejge-8767	26	6	follows	follow	VERB
ejge-8767	26	7	:	:	PUNCT
ejge-8767	26	8	section	section	NOUN
ejge-8767	26	9	2	2	NUM
ejge-8767	26	10	will	will	AUX
ejge-8767	26	11	develop	develop	VERB
ejge-8767	26	12	the	the	DET
ejge-8767	26	13	literature	literature	NOUN
ejge-8767	26	14	review	review	NOUN
ejge-8767	26	15	;	;	PUNCT
ejge-8767	26	16	section	section	NOUN
ejge-8767	26	17	3	3	NUM
ejge-8767	26	18	will	will	AUX
ejge-8767	26	19	describe	describe	VERB
ejge-8767	26	20	the	the	DET
ejge-8767	26	21	sample	sample	NOUN
ejge-8767	26	22	and	and	CCONJ
ejge-8767	26	23	the	the	DET
ejge-8767	26	24	performance	performance	NOUN
ejge-8767	26	25	metric	metric	NOUN
ejge-8767	26	26	’s	’s	NOUN
ejge-8767	26	27	,	,	PUNCT
ejge-8767	26	28	section	section	NOUN
ejge-8767	26	29	4	4	NUM
ejge-8767	26	30	presents	present	VERB
ejge-8767	26	31	the	the	DET
ejge-8767	26	32	empirical	empirical	ADJ
ejge-8767	26	33	study	study	NOUN
ejge-8767	26	34	,	,	PUNCT
ejge-8767	26	35	and	and	CCONJ
ejge-8767	26	36	section	section	NOUN
ejge-8767	26	37	5	5	NUM
ejge-8767	26	38	concludes	conclude	VERB
ejge-8767	26	39	.	.	PUNCT
ejge-8767	27	1	2	2	X
ejge-8767	27	2	.	.	X
ejge-8767	27	3	literature	literature	NOUN
ejge-8767	27	4	review	review	VERB
ejge-8767	27	5	2.1	2.1	NUM
ejge-8767	27	6	negative	negative	ADJ
ejge-8767	27	7	relationship	relationship	NOUN
ejge-8767	27	8	of	of	ADP
ejge-8767	27	9	expenses	expense	NOUN
ejge-8767	27	10	with	with	ADP
ejge-8767	27	11	performance	performance	NOUN
ejge-8767	27	12	much	much	ADJ
ejge-8767	27	13	of	of	ADP
ejge-8767	27	14	the	the	DET
ejge-8767	27	15	mutual	mutual	ADJ
ejge-8767	27	16	fund	fund	NOUN
ejge-8767	27	17	literature	literature	NOUN
ejge-8767	27	18	focuses	focus	VERB
ejge-8767	27	19	on	on	ADP
ejge-8767	27	20	analysing	analyse	VERB
ejge-8767	27	21	whether	whether	SCONJ
ejge-8767	27	22	fund	fund	NOUN
ejge-8767	27	23	managers	manager	NOUN
ejge-8767	27	24	generate	generate	VERB
ejge-8767	27	25	returns	return	NOUN
ejge-8767	27	26	to	to	PART
ejge-8767	27	27	beat	beat	VERB
ejge-8767	27	28	their	their	PRON
ejge-8767	27	29	benchmark	benchmark	NOUN
ejge-8767	27	30	and	and	CCONJ
ejge-8767	27	31	justify	justify	VERB
ejge-8767	27	32	the	the	DET
ejge-8767	27	33	associated	associated	ADJ
ejge-8767	27	34	transaction	transaction	NOUN
ejge-8767	27	35	costs	cost	NOUN
ejge-8767	27	36	and	and	CCONJ
ejge-8767	27	37	fees	fee	NOUN
ejge-8767	27	38	(	(	PUNCT
ejge-8767	27	39	see	see	VERB
ejge-8767	27	40	for	for	ADP
ejge-8767	27	41	example	example	NOUN
ejge-8767	27	42	daniel	daniel	PROPN
ejge-8767	27	43	,	,	PUNCT
ejge-8767	27	44	grinblatt	grinblatt	PROPN
ejge-8767	27	45	,	,	PUNCT
ejge-8767	27	46	titman	titman	NOUN
ejge-8767	27	47	and	and	CCONJ
ejge-8767	27	48	wermers	wermer	NOUN
ejge-8767	27	49	,	,	PUNCT
ejge-8767	27	50	1997	1997	NUM
ejge-8767	27	51	;	;	PUNCT
ejge-8767	27	52	malkiel	malkiel	PROPN
ejge-8767	27	53	,	,	PUNCT
ejge-8767	27	54	1995	1995	NUM
ejge-8767	27	55	)	)	PUNCT
ejge-8767	27	56	.	.	PUNCT
ejge-8767	28	1	studies	study	NOUN
ejge-8767	28	2	such	such	ADJ
ejge-8767	28	3	as	as	ADP
ejge-8767	28	4	gruber	gruber	PROPN
ejge-8767	28	5	(	(	PUNCT
ejge-8767	28	6	1996	1996	NUM
ejge-8767	28	7	)	)	PUNCT
ejge-8767	28	8	,	,	PUNCT
ejge-8767	28	9	livingston	livingston	PROPN
ejge-8767	28	10	and	and	CCONJ
ejge-8767	28	11	o'neal	o'neal	PROPN
ejge-8767	28	12	(	(	PUNCT
ejge-8767	28	13	1996	1996	NUM
ejge-8767	28	14	)	)	PUNCT
ejge-8767	28	15	,	,	PUNCT
ejge-8767	28	16	capon	capon	NOUN
ejge-8767	28	17	,	,	PUNCT
ejge-8767	28	18	fitzsimons	fitzsimon	NOUN
ejge-8767	28	19	and	and	CCONJ
ejge-8767	28	20	prince	prince	PROPN
ejge-8767	28	21	(	(	PUNCT
ejge-8767	28	22	1996	1996	NUM
ejge-8767	28	23	)	)	PUNCT
ejge-8767	28	24	,	,	PUNCT
ejge-8767	28	25	carhart	carhart	NOUN
ejge-8767	28	26	(	(	PUNCT
ejge-8767	28	27	1997	1997	NUM
ejge-8767	28	28	)	)	PUNCT
ejge-8767	28	29	,	,	PUNCT
ejge-8767	28	30	alexander	alexander	PROPN
ejge-8767	28	31	,	,	PUNCT
ejge-8767	28	32	jones	jones	PROPN
ejge-8767	28	33	and	and	CCONJ
ejge-8767	28	34	nigro	nigro	NOUN
ejge-8767	28	35	(	(	PUNCT
ejge-8767	28	36	1998	1998	NUM
ejge-8767	28	37	)	)	PUNCT
ejge-8767	28	38	,	,	PUNCT
ejge-8767	28	39	sirri	sirri	NOUN
ejge-8767	28	40	and	and	CCONJ
ejge-8767	28	41	tufano	tufano	ADJ
ejge-8767	28	42	(	(	PUNCT
ejge-8767	28	43	1998	1998	NUM
ejge-8767	28	44	)	)	PUNCT
ejge-8767	28	45	,	,	PUNCT
ejge-8767	28	46	chalmers	chalmer	NOUN
ejge-8767	28	47	,	,	PUNCT
ejge-8767	28	48	edelen	edelen	ADJ
ejge-8767	28	49	,	,	PUNCT
ejge-8767	28	50	and	and	CCONJ
ejge-8767	28	51	kadlec	kadlec	PROPN
ejge-8767	28	52	(	(	PUNCT
ejge-8767	28	53	1999	1999	NUM
ejge-8767	28	54	)	)	PUNCT
ejge-8767	28	55	among	among	ADP
ejge-8767	28	56	others	other	NOUN
ejge-8767	28	57	,	,	PUNCT
ejge-8767	28	58	documented	document	VERB
ejge-8767	28	59	the	the	DET
ejge-8767	28	60	negative	negative	ADJ
ejge-8767	28	61	relationship	relationship	NOUN
ejge-8767	28	62	between	between	ADP
ejge-8767	28	63	mutual	mutual	ADJ
ejge-8767	28	64	fund´s	fund´s	ADJ
ejge-8767	28	65	expenditures	expenditure	NOUN
ejge-8767	28	66	and	and	CCONJ
ejge-8767	28	67	their	their	PRON
ejge-8767	28	68	performance	performance	NOUN
ejge-8767	28	69	.	.	PUNCT
ejge-8767	29	1	the	the	DET
ejge-8767	29	2	reasoning	reasoning	NOUN
ejge-8767	29	3	is	be	AUX
ejge-8767	29	4	that	that	SCONJ
ejge-8767	29	5	the	the	DET
ejge-8767	29	6	return	return	NOUN
ejge-8767	29	7	of	of	ADP
ejge-8767	29	8	the	the	DET
ejge-8767	29	9	index	index	NOUN
ejge-8767	29	10	equals	equal	VERB
ejge-8767	29	11	the	the	DET
ejge-8767	29	12	weighted	weighted	ADJ
ejge-8767	29	13	average	average	ADJ
ejge-8767	29	14	return	return	NOUN
ejge-8767	29	15	of	of	ADP
ejge-8767	29	16	active	active	ADJ
ejge-8767	29	17	and	and	CCONJ
ejge-8767	29	18	passive	passive	ADJ
ejge-8767	29	19	investors	investor	NOUN
ejge-8767	29	20	before	before	ADP
ejge-8767	29	21	investment	investment	NOUN
ejge-8767	29	22	expenses	expense	NOUN
ejge-8767	29	23	.	.	PUNCT
ejge-8767	30	1	therefore	therefore	ADV
ejge-8767	30	2	,	,	PUNCT
ejge-8767	30	3	active	active	ADJ
ejge-8767	30	4	management	management	NOUN
ejge-8767	30	5	would	would	AUX
ejge-8767	30	6	be	be	AUX
ejge-8767	30	7	a	a	DET
ejge-8767	30	8	zero	zero	NUM
ejge-8767	30	9	-	-	PUNCT
ejge-8767	30	10	sum	sum	NOUN
ejge-8767	30	11	game	game	NOUN
ejge-8767	30	12	.	.	PUNCT
ejge-8767	31	1	sharpe	sharpe	PROPN
ejge-8767	31	2	(	(	PUNCT
ejge-8767	31	3	1991	1991	NUM
ejge-8767	31	4	)	)	PUNCT
ejge-8767	31	5	calls	call	VERB
ejge-8767	31	6	this	this	DET
ejge-8767	31	7	fact	fact	NOUN
ejge-8767	31	8	the	the	DET
ejge-8767	31	9	arithmetic	arithmetic	NOUN
ejge-8767	31	10	of	of	ADP
ejge-8767	31	11	active	active	ADJ
ejge-8767	31	12	management	management	NOUN
ejge-8767	31	13	.	.	PUNCT
ejge-8767	32	1	the	the	DET
ejge-8767	32	2	author	author	NOUN
ejge-8767	32	3	states	state	VERB
ejge-8767	32	4	that	that	SCONJ
ejge-8767	32	5	active	active	ADJ
ejge-8767	32	6	investors	investor	NOUN
ejge-8767	32	7	can	can	AUX
ejge-8767	32	8	not	not	PART
ejge-8767	32	9	exceed	exceed	VERB
ejge-8767	32	10	the	the	DET
ejge-8767	32	11	returns	return	NOUN
ejge-8767	32	12	obtained	obtain	VERB
ejge-8767	32	13	from	from	ADP
ejge-8767	32	14	passive	passive	ADJ
ejge-8767	32	15	investment	investment	NOUN
ejge-8767	32	16	strategies	strategy	NOUN
ejge-8767	32	17	.	.	PUNCT
ejge-8767	33	1	sharpe	sharpe	PROPN
ejge-8767	33	2	(	(	PUNCT
ejge-8767	33	3	1966	1966	NUM
ejge-8767	33	4	)	)	PUNCT
ejge-8767	33	5	found	find	VERB
ejge-8767	33	6	that	that	SCONJ
ejge-8767	33	7	part	part	NOUN
ejge-8767	33	8	of	of	ADP
ejge-8767	33	9	the	the	DET
ejge-8767	33	10	difference	difference	NOUN
ejge-8767	33	11	in	in	ADP
ejge-8767	33	12	returns	return	NOUN
ejge-8767	33	13	to	to	ADP
ejge-8767	33	14	funds	fund	NOUN
ejge-8767	33	15	could	could	AUX
ejge-8767	33	16	be	be	AUX
ejge-8767	33	17	explained	explain	VERB
ejge-8767	33	18	by	by	ADP
ejge-8767	33	19	the	the	DET
ejge-8767	33	20	difference	difference	NOUN
ejge-8767	33	21	in	in	ADP
ejge-8767	33	22	spending	spending	NOUN
ejge-8767	33	23	levels	level	NOUN
ejge-8767	33	24	.	.	PUNCT
ejge-8767	34	1	grinblatt	grinblatt	NOUN
ejge-8767	34	2	and	and	CCONJ
ejge-8767	34	3	titman	titman	NOUN
ejge-8767	34	4	(	(	PUNCT
ejge-8767	34	5	1992	1992	NUM
ejge-8767	34	6	)	)	PUNCT
ejge-8767	34	7	found	find	VERB
ejge-8767	34	8	that	that	SCONJ
ejge-8767	34	9	expenses	expense	NOUN
ejge-8767	34	10	contributed	contribute	VERB
ejge-8767	34	11	to	to	ADP
ejge-8767	34	12	the	the	DET
ejge-8767	34	13	difference	difference	NOUN
ejge-8767	34	14	between	between	ADP
ejge-8767	34	15	funds	fund	NOUN
ejge-8767	34	16	classified	classify	VERB
ejge-8767	34	17	as	as	ADP
ejge-8767	34	18	"	"	PUNCT
ejge-8767	34	19	winners	winner	NOUN
ejge-8767	34	20	"	"	PUNCT
ejge-8767	34	21	or	or	CCONJ
ejge-8767	34	22	"	"	PUNCT
ejge-8767	34	23	losers	loser	NOUN
ejge-8767	34	24	.	.	PUNCT
ejge-8767	34	25	"	"	PUNCT
ejge-8767	35	1	carhart	carhart	NOUN
ejge-8767	35	2	(	(	PUNCT
ejge-8767	35	3	1997	1997	NUM
ejge-8767	35	4	)	)	PUNCT
ejge-8767	35	5	showed	show	VERB
ejge-8767	35	6	that	that	SCONJ
ejge-8767	35	7	expenses	expense	NOUN
ejge-8767	35	8	can	can	AUX
ejge-8767	35	9	explain	explain	VERB
ejge-8767	35	10	the	the	DET
ejge-8767	35	11	persistence	persistence	NOUN
ejge-8767	35	12	of	of	ADP
ejge-8767	35	13	adjusted	adjust	VERB
ejge-8767	35	14	risk	risk	NOUN
ejge-8767	35	15	return	return	NOUN
ejge-8767	35	16	and	and	CCONJ
ejge-8767	35	17	,	,	PUNCT
ejge-8767	35	18	therefore	therefore	ADV
ejge-8767	35	19	,	,	PUNCT
ejge-8767	35	20	may	may	AUX
ejge-8767	35	21	be	be	AUX
ejge-8767	35	22	used	use	VERB
ejge-8767	35	23	as	as	ADP
ejge-8767	35	24	a	a	DET
ejge-8767	35	25	good	good	ADJ
ejge-8767	35	26	predictor	predictor	NOUN
ejge-8767	35	27	of	of	ADP
ejge-8767	35	28	future	future	ADJ
ejge-8767	35	29	performance	performance	NOUN
ejge-8767	35	30	.	.	PUNCT
ejge-8767	36	1	o'neal	o'neal	PROPN
ejge-8767	36	2	(	(	PUNCT
ejge-8767	36	3	2004	2004	NUM
ejge-8767	36	4	)	)	PUNCT
ejge-8767	36	5	,	,	PUNCT
ejge-8767	36	6	haslem	haslem	NOUN
ejge-8767	36	7	,	,	PUNCT
ejge-8767	36	8	baker	baker	PROPN
ejge-8767	36	9	and	and	CCONJ
ejge-8767	36	10	smith	smith	PROPN
ejge-8767	36	11	(	(	PUNCT
ejge-8767	36	12	2008	2008	NUM
ejge-8767	36	13	)	)	PUNCT
ejge-8767	36	14	gil	gil	PROPN
ejge-8767	36	15	-	-	PUNCT
ejge-8767	36	16	bazo	bazo	NOUN
ejge-8767	36	17	and	and	CCONJ
ejge-8767	36	18	ruiz	ruiz	NOUN
ejge-8767	36	19	-	-	PUNCT
ejge-8767	36	20	verdu	verdu	NOUN
ejge-8767	36	21	(	(	PUNCT
ejge-8767	36	22	2009	2009	NUM
ejge-8767	36	23	)	)	PUNCT
ejge-8767	36	24	also	also	ADV
ejge-8767	36	25	support	support	VERB
ejge-8767	36	26	the	the	DET
ejge-8767	36	27	negative	negative	ADJ
ejge-8767	36	28	relationship	relationship	NOUN
ejge-8767	36	29	between	between	ADP
ejge-8767	36	30	performance	performance	NOUN
ejge-8767	36	31	and	and	CCONJ
ejge-8767	36	32	expenses	expense	NOUN
ejge-8767	36	33	.	.	PUNCT
ejge-8767	37	1	wermers	wermer	NOUN
ejge-8767	37	2	(	(	PUNCT
ejge-8767	37	3	2000	2000	NUM
ejge-8767	37	4	)	)	PUNCT
ejge-8767	37	5	related	relate	VERB
ejge-8767	37	6	funds	fund	NOUN
ejge-8767	37	7	that	that	PRON
ejge-8767	37	8	performed	perform	VERB
ejge-8767	37	9	worse	bad	ADJ
ejge-8767	37	10	to	to	ADP
ejge-8767	37	11	those	those	PRON
ejge-8767	37	12	with	with	ADP
ejge-8767	37	13	high	high	ADJ
ejge-8767	37	14	asset	asset	NOUN
ejge-8767	37	15	turnover	turnover	NOUN
ejge-8767	37	16	renato	renato	PROPN
ejge-8767	37	17	correia	correia	PROPN
ejge-8767	37	18	-	-	PUNCT
ejge-8767	37	19	domingues	domingue	NOUN
ejge-8767	37	20	et	et	PROPN
ejge-8767	37	21	al	al	PROPN
ejge-8767	37	22	.	.	PUNCT
ejge-8767	37	23	/	/	SYM
ejge-8767	37	24	european	european	PROPN
ejge-8767	37	25	journal	journal	PROPN
ejge-8767	37	26	of	of	ADP
ejge-8767	37	27	government	government	NOUN
ejge-8767	37	28	and	and	CCONJ
ejge-8767	37	29	economics	economic	NOUN
ejge-8767	37	30	11(1	11(1	NUM
ejge-8767	37	31	)	)	PUNCT
ejge-8767	37	32	,	,	PUNCT
ejge-8767	37	33	june	june	PROPN
ejge-8767	37	34	2022	2022	NUM
ejge-8767	37	35	,	,	PUNCT
ejge-8767	37	36	31	31	NUM
ejge-8767	37	37	-	-	SYM
ejge-8767	37	38	50	50	NUM
ejge-8767	37	39	33	33	NUM
ejge-8767	37	40	and	and	CCONJ
ejge-8767	37	41	,	,	PUNCT
ejge-8767	37	42	therefore	therefore	ADV
ejge-8767	37	43	,	,	PUNCT
ejge-8767	37	44	high	high	ADJ
ejge-8767	37	45	expenses	expense	NOUN
ejge-8767	37	46	.	.	PUNCT
ejge-8767	38	1	hereupon	hereupon	ADV
ejge-8767	38	2	,	,	PUNCT
ejge-8767	38	3	he	he	PRON
ejge-8767	38	4	argues	argue	VERB
ejge-8767	38	5	that	that	SCONJ
ejge-8767	38	6	funds	fund	NOUN
ejge-8767	38	7	with	with	ADP
ejge-8767	38	8	more	more	ADJ
ejge-8767	38	9	expenses	expense	NOUN
ejge-8767	38	10	perform	perform	VERB
ejge-8767	38	11	worse	bad	ADJ
ejge-8767	38	12	.	.	PUNCT
ejge-8767	39	1	also	also	ADV
ejge-8767	39	2	,	,	PUNCT
ejge-8767	39	3	berk	berk	PROPN
ejge-8767	39	4	and	and	CCONJ
ejge-8767	39	5	green	green	ADJ
ejge-8767	39	6	(	(	PUNCT
ejge-8767	39	7	2004	2004	NUM
ejge-8767	39	8	)	)	PUNCT
ejge-8767	39	9	found	find	VERB
ejge-8767	39	10	that	that	SCONJ
ejge-8767	39	11	the	the	DET
ejge-8767	39	12	alpha	alpha	NOUN
ejge-8767	39	13	performance	performance	NOUN
ejge-8767	39	14	metric	metric	NOUN
ejge-8767	39	15	obtained	obtain	VERB
ejge-8767	39	16	by	by	ADP
ejge-8767	39	17	investors	investor	NOUN
ejge-8767	39	18	has	have	VERB
ejge-8767	39	19	zero	zero	NUM
ejge-8767	39	20	return	return	NOUN
ejge-8767	39	21	after	after	ADP
ejge-8767	39	22	eliminating	eliminate	VERB
ejge-8767	39	23	expenses	expense	NOUN
ejge-8767	39	24	.	.	PUNCT
ejge-8767	40	1	on	on	ADP
ejge-8767	40	2	the	the	DET
ejge-8767	40	3	other	other	ADJ
ejge-8767	40	4	hand	hand	NOUN
ejge-8767	40	5	,	,	PUNCT
ejge-8767	40	6	investors	investor	NOUN
ejge-8767	40	7	in	in	ADP
ejge-8767	40	8	funds	fund	NOUN
ejge-8767	40	9	with	with	ADP
ejge-8767	40	10	higher	high	ADJ
ejge-8767	40	11	expenses	expense	NOUN
ejge-8767	40	12	are	be	AUX
ejge-8767	40	13	considered	consider	VERB
ejge-8767	40	14	in	in	ADP
ejge-8767	40	15	the	the	DET
ejge-8767	40	16	literature	literature	NOUN
ejge-8767	40	17	as	as	ADP
ejge-8767	40	18	unsophisticated	unsophisticated	ADJ
ejge-8767	40	19	,	,	PUNCT
ejge-8767	40	20	with	with	ADP
ejge-8767	40	21	low	low	ADJ
ejge-8767	40	22	sensitivity	sensitivity	NOUN
ejge-8767	40	23	to	to	ADP
ejge-8767	40	24	low	low	ADJ
ejge-8767	40	25	returns	return	NOUN
ejge-8767	40	26	(	(	PUNCT
ejge-8767	40	27	gil	gil	NOUN
ejge-8767	40	28	-	-	NOUN
ejge-8767	40	29	bazo	bazo	NOUN
ejge-8767	40	30	and	and	CCONJ
ejge-8767	40	31	ruiz	ruiz	NOUN
ejge-8767	40	32	-	-	PUNCT
ejge-8767	40	33	verdu	verdu	NOUN
ejge-8767	40	34	,	,	PUNCT
ejge-8767	40	35	2009	2009	NUM
ejge-8767	40	36	)	)	PUNCT
ejge-8767	40	37	.	.	PUNCT
ejge-8767	41	1	philips	philip	NOUN
ejge-8767	41	2	and	and	CCONJ
ejge-8767	41	3	kinniry	kinniry	NOUN
ejge-8767	41	4	(	(	PUNCT
ejge-8767	41	5	2010	2010	NUM
ejge-8767	41	6	)	)	PUNCT
ejge-8767	41	7	show	show	VERB
ejge-8767	41	8	that	that	SCONJ
ejge-8767	41	9	funds	fund	NOUN
ejge-8767	41	10	with	with	ADP
ejge-8767	41	11	higher	high	ADJ
ejge-8767	41	12	expenses	expense	NOUN
ejge-8767	41	13	have	have	VERB
ejge-8767	41	14	lower	low	ADJ
ejge-8767	41	15	returns	return	NOUN
ejge-8767	41	16	than	than	ADP
ejge-8767	41	17	those	those	PRON
ejge-8767	41	18	with	with	ADP
ejge-8767	41	19	lower	low	ADJ
ejge-8767	41	20	expenses	expense	NOUN
ejge-8767	41	21	,	,	PUNCT
ejge-8767	41	22	suggesting	suggest	VERB
ejge-8767	41	23	passive	passive	ADJ
ejge-8767	41	24	investing	investing	NOUN
ejge-8767	41	25	or	or	CCONJ
ejge-8767	41	26	indexing	indexing	NOUN
ejge-8767	41	27	as	as	ADP
ejge-8767	41	28	an	an	DET
ejge-8767	41	29	investment	investment	NOUN
ejge-8767	41	30	strategy	strategy	NOUN
ejge-8767	41	31	.	.	PUNCT
ejge-8767	42	1	ferruz	ferruz	NOUN
ejge-8767	42	2	and	and	CCONJ
ejge-8767	42	3	alda	alda	PROPN
ejge-8767	42	4	(	(	PUNCT
ejge-8767	42	5	2012	2012	NUM
ejge-8767	42	6	)	)	PUNCT
ejge-8767	42	7	carried	carry	VERB
ejge-8767	42	8	out	out	ADP
ejge-8767	42	9	a	a	DET
ejge-8767	42	10	study	study	NOUN
ejge-8767	42	11	of	of	ADP
ejge-8767	42	12	expenses	expense	NOUN
ejge-8767	42	13	for	for	ADP
ejge-8767	42	14	the	the	DET
ejge-8767	42	15	spanish	spanish	ADJ
ejge-8767	42	16	market	market	NOUN
ejge-8767	42	17	,	,	PUNCT
ejge-8767	42	18	concluding	conclude	VERB
ejge-8767	42	19	that	that	SCONJ
ejge-8767	42	20	there	there	PRON
ejge-8767	42	21	is	be	VERB
ejge-8767	42	22	a	a	DET
ejge-8767	42	23	negative	negative	ADJ
ejge-8767	42	24	relationship	relationship	NOUN
ejge-8767	42	25	between	between	ADP
ejge-8767	42	26	the	the	DET
ejge-8767	42	27	commissions	commission	NOUN
ejge-8767	42	28	charged	charge	VERB
ejge-8767	42	29	and	and	CCONJ
ejge-8767	42	30	the	the	DET
ejge-8767	42	31	adjusted	adjust	VERB
ejge-8767	42	32	return	return	NOUN
ejge-8767	42	33	risk	risk	NOUN
ejge-8767	42	34	provided	provide	VERB
ejge-8767	42	35	by	by	ADP
ejge-8767	42	36	the	the	DET
ejge-8767	42	37	pension	pension	NOUN
ejge-8767	42	38	plans	plan	NOUN
ejge-8767	42	39	.	.	PUNCT
ejge-8767	43	1	fernández	fernández	PROPN
ejge-8767	43	2	and	and	CCONJ
ejge-8767	43	3	órtiz	órtiz	PROPN
ejge-8767	43	4	(	(	PUNCT
ejge-8767	43	5	2015	2015	NUM
ejge-8767	43	6	)	)	PUNCT
ejge-8767	43	7	also	also	ADV
ejge-8767	43	8	attribute	attribute	VERB
ejge-8767	43	9	to	to	ADP
ejge-8767	43	10	the	the	DET
ejge-8767	43	11	high	high	ADJ
ejge-8767	43	12	costs	cost	NOUN
ejge-8767	43	13	paid	pay	VERB
ejge-8767	43	14	by	by	ADP
ejge-8767	43	15	members	member	NOUN
ejge-8767	43	16	the	the	DET
ejge-8767	43	17	disappointing	disappointing	ADJ
ejge-8767	43	18	performance	performance	NOUN
ejge-8767	43	19	in	in	ADP
ejge-8767	43	20	pension	pension	NOUN
ejge-8767	43	21	plans	plan	NOUN
ejge-8767	43	22	.	.	PUNCT
ejge-8767	44	1	a	a	DET
ejge-8767	44	2	very	very	ADV
ejge-8767	44	3	important	important	ADJ
ejge-8767	44	4	part	part	NOUN
ejge-8767	44	5	of	of	ADP
ejge-8767	44	6	the	the	DET
ejge-8767	44	7	cost	cost	NOUN
ejge-8767	44	8	of	of	ADP
ejge-8767	44	9	the	the	DET
ejge-8767	44	10	funds	fund	NOUN
ejge-8767	44	11	corresponds	correspond	VERB
ejge-8767	44	12	to	to	ADP
ejge-8767	44	13	their	their	PRON
ejge-8767	44	14	marketing	marketing	NOUN
ejge-8767	44	15	and	and	CCONJ
ejge-8767	44	16	the	the	DET
ejge-8767	44	17	distributor	distributor	NOUN
ejge-8767	44	18	receives	receive	VERB
ejge-8767	44	19	,	,	PUNCT
ejge-8767	44	20	in	in	ADP
ejge-8767	44	21	general	general	ADJ
ejge-8767	44	22	,	,	PUNCT
ejge-8767	44	23	remuneration	remuneration	NOUN
ejge-8767	44	24	higher	high	ADJ
ejge-8767	44	25	than	than	ADP
ejge-8767	44	26	that	that	PRON
ejge-8767	44	27	of	of	ADP
ejge-8767	44	28	the	the	DET
ejge-8767	44	29	managers	manager	NOUN
ejge-8767	44	30	.	.	PUNCT
ejge-8767	45	1	in	in	ADP
ejge-8767	45	2	addition	addition	NOUN
ejge-8767	45	3	,	,	PUNCT
ejge-8767	45	4	part	part	NOUN
ejge-8767	45	5	of	of	ADP
ejge-8767	45	6	the	the	DET
ejge-8767	45	7	commission	commission	NOUN
ejge-8767	45	8	generates	generate	VERB
ejge-8767	45	9	conflicts	conflict	NOUN
ejge-8767	45	10	of	of	ADP
ejge-8767	45	11	interest	interest	NOUN
ejge-8767	45	12	and	and	CCONJ
ejge-8767	45	13	the	the	DET
ejge-8767	45	14	incentive	incentive	NOUN
ejge-8767	45	15	to	to	PART
ejge-8767	45	16	sell	sell	VERB
ejge-8767	45	17	the	the	DET
ejge-8767	45	18	product	product	NOUN
ejge-8767	45	19	for	for	ADP
ejge-8767	45	20	higher	high	ADJ
ejge-8767	45	21	commissions	commission	NOUN
ejge-8767	45	22	.	.	PUNCT
ejge-8767	46	1	nevertheless	nevertheless	ADV
ejge-8767	46	2	,	,	PUNCT
ejge-8767	46	3	several	several	ADJ
ejge-8767	46	4	papers	paper	NOUN
ejge-8767	46	5	have	have	AUX
ejge-8767	46	6	supported	support	VERB
ejge-8767	46	7	a	a	DET
ejge-8767	46	8	positive	positive	ADJ
ejge-8767	46	9	relationship	relationship	NOUN
ejge-8767	46	10	between	between	ADP
ejge-8767	46	11	expenses	expense	NOUN
ejge-8767	46	12	and	and	CCONJ
ejge-8767	46	13	performance	performance	NOUN
ejge-8767	46	14	.	.	PUNCT
ejge-8767	47	1	diaz	diaz	PROPN
ejge-8767	47	2	-	-	PUNCT
ejge-8767	47	3	mendoza	mendoza	PROPN
ejge-8767	47	4	,	,	PUNCT
ejge-8767	47	5	lopez	lopez	PROPN
ejge-8767	47	6	-	-	PUNCT
ejge-8767	47	7	espinosa	espinosa	PROPN
ejge-8767	47	8	,	,	PUNCT
ejge-8767	47	9	and	and	CCONJ
ejge-8767	47	10	martinez	martinez	PROPN
ejge-8767	47	11	-	-	PUNCT
ejge-8767	47	12	sedano	sedano	PROPN
ejge-8767	47	13	(	(	PUNCT
ejge-8767	47	14	2012	2012	NUM
ejge-8767	47	15	)	)	PUNCT
ejge-8767	47	16	suggest	suggest	VERB
ejge-8767	47	17	that	that	SCONJ
ejge-8767	47	18	fund´s	fund´s	ADJ
ejge-8767	47	19	performance	performance	NOUN
ejge-8767	47	20	is	be	AUX
ejge-8767	47	21	positively	positively	ADV
ejge-8767	47	22	related	relate	VERB
ejge-8767	47	23	to	to	ADP
ejge-8767	47	24	the	the	DET
ejge-8767	47	25	magnitude	magnitude	NOUN
ejge-8767	47	26	of	of	ADP
ejge-8767	47	27	the	the	DET
ejge-8767	47	28	performance	performance	NOUN
ejge-8767	47	29	fees	fee	NOUN
ejge-8767	47	30	.	.	PUNCT
ejge-8767	48	1	flood	flood	NOUN
ejge-8767	48	2	(	(	PUNCT
ejge-8767	48	3	2015	2015	NUM
ejge-8767	48	4	)	)	PUNCT
ejge-8767	48	5	found	find	VERB
ejge-8767	48	6	that	that	SCONJ
ejge-8767	48	7	many	many	ADJ
ejge-8767	48	8	of	of	ADP
ejge-8767	48	9	the	the	DET
ejge-8767	48	10	costs	cost	NOUN
ejge-8767	48	11	are	be	AUX
ejge-8767	48	12	“	"	PUNCT
ejge-8767	48	13	hidden	hidden	ADJ
ejge-8767	48	14	costs	cost	NOUN
ejge-8767	48	15	”	"	PUNCT
ejge-8767	48	16	that	that	PRON
ejge-8767	48	17	can	can	AUX
ejge-8767	48	18	reach	reach	VERB
ejge-8767	48	19	80	80	NUM
ejge-8767	48	20	%	%	NOUN
ejge-8767	48	21	of	of	ADP
ejge-8767	48	22	the	the	DET
ejge-8767	48	23	total	total	ADJ
ejge-8767	48	24	costs	cost	NOUN
ejge-8767	48	25	in	in	ADP
ejge-8767	48	26	the	the	DET
ejge-8767	48	27	case	case	NOUN
ejge-8767	48	28	of	of	ADP
ejge-8767	48	29	actively	actively	ADV
ejge-8767	48	30	managed	manage	VERB
ejge-8767	48	31	funds	fund	NOUN
ejge-8767	48	32	.	.	PUNCT
ejge-8767	49	1	on	on	ADP
ejge-8767	49	2	the	the	DET
ejge-8767	49	3	other	other	ADJ
ejge-8767	49	4	hand	hand	NOUN
ejge-8767	49	5	,	,	PUNCT
ejge-8767	49	6	there	there	PRON
ejge-8767	49	7	is	be	VERB
ejge-8767	49	8	some	some	DET
ejge-8767	49	9	evidence	evidence	NOUN
ejge-8767	49	10	that	that	SCONJ
ejge-8767	49	11	the	the	DET
ejge-8767	49	12	best	good	ADJ
ejge-8767	49	13	funds	fund	NOUN
ejge-8767	49	14	would	would	AUX
ejge-8767	49	15	be	be	AUX
ejge-8767	49	16	related	relate	VERB
ejge-8767	49	17	to	to	ADP
ejge-8767	49	18	higher	high	ADJ
ejge-8767	49	19	expenses	expense	NOUN
ejge-8767	49	20	.	.	PUNCT
ejge-8767	50	1	servaes	servaes	NOUN
ejge-8767	50	2	and	and	CCONJ
ejge-8767	50	3	sirgusson	sirgusson	NOUN
ejge-8767	50	4	(	(	PUNCT
ejge-8767	50	5	2018	2018	NUM
ejge-8767	50	6	)	)	PUNCT
ejge-8767	50	7	studied	study	VERB
ejge-8767	50	8	the	the	DET
ejge-8767	50	9	funds	fund	NOUN
ejge-8767	50	10	fees	fee	NOUN
ejge-8767	50	11	of	of	ADP
ejge-8767	50	12	european	european	PROPN
ejge-8767	50	13	union	union	PROPN
ejge-8767	50	14	,	,	PUNCT
ejge-8767	50	15	norway	norway	PROPN
ejge-8767	50	16	and	and	CCONJ
ejge-8767	50	17	switzerland	switzerland	PROPN
ejge-8767	50	18	,	,	PUNCT
ejge-8767	50	19	finding	find	VERB
ejge-8767	50	20	that	that	SCONJ
ejge-8767	50	21	mutual	mutual	ADJ
ejge-8767	50	22	funds	fund	NOUN
ejge-8767	50	23	with	with	ADP
ejge-8767	50	24	higher	high	ADJ
ejge-8767	50	25	expenses	expense	NOUN
ejge-8767	50	26	achieved	achieve	VERB
ejge-8767	50	27	superior	superior	ADJ
ejge-8767	50	28	performance	performance	NOUN
ejge-8767	50	29	.	.	PUNCT
ejge-8767	51	1	this	this	DET
ejge-8767	51	2	relationship	relationship	NOUN
ejge-8767	51	3	is	be	AUX
ejge-8767	51	4	justified	justify	VERB
ejge-8767	51	5	by	by	ADP
ejge-8767	51	6	kosowski	kosowski	PROPN
ejge-8767	51	7	,	,	PUNCT
ejge-8767	51	8	timmermann	timmermann	PROPN
ejge-8767	51	9	,	,	PUNCT
ejge-8767	51	10	white	white	ADJ
ejge-8767	51	11	and	and	CCONJ
ejge-8767	51	12	wermers	wermer	NOUN
ejge-8767	51	13	(	(	PUNCT
ejge-8767	51	14	2006	2006	NUM
ejge-8767	51	15	)	)	PUNCT
ejge-8767	51	16	who	who	PRON
ejge-8767	51	17	find	find	VERB
ejge-8767	51	18	that	that	SCONJ
ejge-8767	51	19	some	some	DET
ejge-8767	51	20	managers	manager	NOUN
ejge-8767	51	21	have	have	VERB
ejge-8767	51	22	superior	superior	ADJ
ejge-8767	51	23	skills	skill	NOUN
ejge-8767	51	24	and	and	CCONJ
ejge-8767	51	25	charge	charge	VERB
ejge-8767	51	26	higher	high	ADJ
ejge-8767	51	27	expenses	expense	NOUN
ejge-8767	51	28	but	but	CCONJ
ejge-8767	51	29	obtain	obtain	VERB
ejge-8767	51	30	better	well	ADJ
ejge-8767	51	31	returns	return	NOUN
ejge-8767	51	32	(	(	PUNCT
ejge-8767	51	33	gruber	gruber	NOUN
ejge-8767	51	34	,	,	PUNCT
ejge-8767	51	35	1996	1996	NUM
ejge-8767	51	36	;	;	PUNCT
ejge-8767	51	37	livingston	livingston	PROPN
ejge-8767	51	38	and	and	CCONJ
ejge-8767	51	39	o'neal	o'neal	PROPN
ejge-8767	51	40	,	,	PUNCT
ejge-8767	51	41	1996	1996	NUM
ejge-8767	51	42	;	;	PUNCT
ejge-8767	51	43	capon	capon	NOUN
ejge-8767	51	44	,	,	PUNCT
ejge-8767	51	45	fitzsimons	fitzsimon	NOUN
ejge-8767	51	46	and	and	CCONJ
ejge-8767	51	47	prince	prince	PROPN
ejge-8767	51	48	,	,	PUNCT
ejge-8767	51	49	1996	1996	NUM
ejge-8767	51	50	and	and	CCONJ
ejge-8767	51	51	carhart,1997	carhart,1997	NOUN
ejge-8767	51	52	)	)	PUNCT
ejge-8767	51	53	.	.	PUNCT
ejge-8767	52	1	also	also	ADV
ejge-8767	52	2	,	,	PUNCT
ejge-8767	52	3	alexander	alexander	PROPN
ejge-8767	52	4	,	,	PUNCT
ejge-8767	52	5	jones	jones	PROPN
ejge-8767	52	6	and	and	CCONJ
ejge-8767	52	7	nigro	nigro	NOUN
ejge-8767	52	8	(	(	PUNCT
ejge-8767	52	9	1998	1998	NUM
ejge-8767	52	10	)	)	PUNCT
ejge-8767	52	11	,	,	PUNCT
ejge-8767	52	12	sirri	sirri	NOUN
ejge-8767	52	13	and	and	CCONJ
ejge-8767	52	14	tufano	tufano	ADJ
ejge-8767	52	15	(	(	PUNCT
ejge-8767	52	16	1998	1998	NUM
ejge-8767	52	17	)	)	PUNCT
ejge-8767	52	18	or	or	CCONJ
ejge-8767	52	19	chalmers	chalmer	NOUN
ejge-8767	52	20	,	,	PUNCT
ejge-8767	52	21	edelen	edelen	ADJ
ejge-8767	52	22	and	and	CCONJ
ejge-8767	52	23	kadlec	kadlec	PROPN
ejge-8767	52	24	(	(	PUNCT
ejge-8767	52	25	1999	1999	NUM
ejge-8767	52	26	)	)	PUNCT
ejge-8767	52	27	support	support	VERB
ejge-8767	52	28	the	the	DET
ejge-8767	52	29	existence	existence	NOUN
ejge-8767	52	30	of	of	ADP
ejge-8767	52	31	a	a	DET
ejge-8767	52	32	positive	positive	ADJ
ejge-8767	52	33	relationship	relationship	NOUN
ejge-8767	52	34	between	between	ADP
ejge-8767	52	35	expenses	expense	NOUN
ejge-8767	52	36	and	and	CCONJ
ejge-8767	52	37	fund	fund	NOUN
ejge-8767	52	38	performance	performance	NOUN
ejge-8767	52	39	.	.	PUNCT
ejge-8767	53	1	in	in	ADP
ejge-8767	53	2	this	this	DET
ejge-8767	53	3	way	way	NOUN
ejge-8767	53	4	we	we	PRON
ejge-8767	53	5	formulate	formulate	VERB
ejge-8767	53	6	our	our	PRON
ejge-8767	53	7	first	first	ADJ
ejge-8767	53	8	hypothesis	hypothesis	NOUN
ejge-8767	53	9	:	:	PUNCT
ejge-8767	53	10	h1	h1	NOUN
ejge-8767	53	11	:	:	PUNCT
ejge-8767	53	12	mutual	mutual	ADJ
ejge-8767	53	13	fund`s	fund`s	NOUN
ejge-8767	53	14	expenses	expense	NOUN
ejge-8767	53	15	are	be	AUX
ejge-8767	53	16	negatively	negatively	ADV
ejge-8767	53	17	related	relate	VERB
ejge-8767	53	18	to	to	ADP
ejge-8767	53	19	their	their	PRON
ejge-8767	53	20	performance	performance	NOUN
ejge-8767	53	21	.	.	PUNCT
ejge-8767	54	1	2.2	2.2	NUM
ejge-8767	54	2	the	the	DET
ejge-8767	54	3	predictive	predictive	ADJ
ejge-8767	54	4	power	power	NOUN
ejge-8767	54	5	of	of	ADP
ejge-8767	54	6	expenses	expense	NOUN
ejge-8767	54	7	in	in	ADP
ejge-8767	54	8	return	return	NOUN
ejge-8767	54	9	/	/	SYM
ejge-8767	54	10	adjusted	adjust	VERB
ejge-8767	54	11	risk	risk	NOUN
ejge-8767	54	12	return	return	NOUN
ejge-8767	54	13	in	in	ADP
ejge-8767	54	14	addition	addition	NOUN
ejge-8767	54	15	to	to	ADP
ejge-8767	54	16	studying	study	VERB
ejge-8767	54	17	the	the	DET
ejge-8767	54	18	relationship	relationship	NOUN
ejge-8767	54	19	between	between	ADP
ejge-8767	54	20	expenses	expense	NOUN
ejge-8767	54	21	at	at	ADP
ejge-8767	54	22	a	a	DET
ejge-8767	54	23	given	give	VERB
ejge-8767	54	24	time	time	NOUN
ejge-8767	54	25	,	,	PUNCT
ejge-8767	54	26	it	it	PRON
ejge-8767	54	27	is	be	AUX
ejge-8767	54	28	also	also	ADV
ejge-8767	54	29	interesting	interesting	ADJ
ejge-8767	54	30	to	to	PART
ejge-8767	54	31	analyse	analyse	VERB
ejge-8767	54	32	whether	whether	SCONJ
ejge-8767	54	33	expenses	expense	NOUN
ejge-8767	54	34	can	can	AUX
ejge-8767	54	35	predict	predict	VERB
ejge-8767	54	36	the	the	DET
ejge-8767	54	37	future	future	ADJ
ejge-8767	54	38	behaviour	behaviour	NOUN
ejge-8767	54	39	of	of	ADP
ejge-8767	54	40	funds	fund	NOUN
ejge-8767	54	41	in	in	ADP
ejge-8767	54	42	terms	term	NOUN
ejge-8767	54	43	of	of	ADP
ejge-8767	54	44	risk	risk	NOUN
ejge-8767	54	45	-	-	PUNCT
ejge-8767	54	46	adjusted	adjust	VERB
ejge-8767	54	47	returns	return	NOUN
ejge-8767	54	48	.	.	PUNCT
ejge-8767	55	1	russel	russel	PROPN
ejge-8767	55	2	kinnel	kinnel	PROPN
ejge-8767	55	3	,	,	PUNCT
ejge-8767	55	4	(	(	PUNCT
ejge-8767	55	5	morningstar	morningstar	NOUN
ejge-8767	55	6	's	's	PART
ejge-8767	55	7	managing	manage	VERB
ejge-8767	55	8	director	director	NOUN
ejge-8767	55	9	of	of	ADP
ejge-8767	55	10	research	research	NOUN
ejge-8767	55	11	)	)	PUNCT
ejge-8767	55	12	,	,	PUNCT
ejge-8767	55	13	indicated	indicate	VERB
ejge-8767	55	14	that	that	SCONJ
ejge-8767	55	15	the	the	DET
ejge-8767	55	16	level	level	NOUN
ejge-8767	55	17	of	of	ADP
ejge-8767	55	18	expenses	expense	NOUN
ejge-8767	55	19	is	be	AUX
ejge-8767	55	20	a	a	DET
ejge-8767	55	21	good	good	ADJ
ejge-8767	55	22	predictor	predictor	NOUN
ejge-8767	55	23	of	of	ADP
ejge-8767	55	24	the	the	DET
ejge-8767	55	25	future	future	ADJ
ejge-8767	55	26	returns	return	NOUN
ejge-8767	55	27	of	of	ADP
ejge-8767	55	28	mutual	mutual	ADJ
ejge-8767	55	29	funds	fund	NOUN
ejge-8767	55	30	,	,	PUNCT
ejge-8767	55	31	so	so	SCONJ
ejge-8767	55	32	it	it	PRON
ejge-8767	55	33	should	should	AUX
ejge-8767	55	34	be	be	AUX
ejge-8767	55	35	one	one	NUM
ejge-8767	55	36	of	of	ADP
ejge-8767	55	37	the	the	DET
ejge-8767	55	38	main	main	ADJ
ejge-8767	55	39	renato	renato	PROPN
ejge-8767	55	40	correia	correia	PROPN
ejge-8767	55	41	-	-	PUNCT
ejge-8767	55	42	domingues	domingue	NOUN
ejge-8767	55	43	et	et	PROPN
ejge-8767	55	44	al	al	PROPN
ejge-8767	55	45	.	.	PUNCT
ejge-8767	55	46	/	/	SYM
ejge-8767	55	47	european	european	PROPN
ejge-8767	55	48	journal	journal	PROPN
ejge-8767	55	49	of	of	ADP
ejge-8767	55	50	government	government	NOUN
ejge-8767	55	51	and	and	CCONJ
ejge-8767	55	52	economics	economic	NOUN
ejge-8767	55	53	11(1	11(1	NUM
ejge-8767	55	54	)	)	PUNCT
ejge-8767	55	55	,	,	PUNCT
ejge-8767	55	56	june	june	PROPN
ejge-8767	55	57	2022	2022	NUM
ejge-8767	55	58	,	,	PUNCT
ejge-8767	55	59	31	31	NUM
ejge-8767	55	60	-	-	SYM
ejge-8767	55	61	50	50	NUM
ejge-8767	55	62	34	34	NUM
ejge-8767	55	63	variables	variable	NOUN
ejge-8767	55	64	to	to	PART
ejge-8767	55	65	consider	consider	VERB
ejge-8767	55	66	by	by	ADP
ejge-8767	55	67	investors1	investors1	NOUN
ejge-8767	55	68	.	.	PUNCT
ejge-8767	56	1	financial	financial	ADJ
ejge-8767	56	2	research	research	NOUN
ejge-8767	56	3	corporation	corporation	NOUN
ejge-8767	56	4	(	(	PUNCT
ejge-8767	56	5	2002	2002	NUM
ejge-8767	56	6	)	)	PUNCT
ejge-8767	56	7	analysed	analyse	VERB
ejge-8767	56	8	the	the	DET
ejge-8767	56	9	factors	factor	NOUN
ejge-8767	56	10	that	that	PRON
ejge-8767	56	11	can	can	AUX
ejge-8767	56	12	predict	predict	VERB
ejge-8767	56	13	future	future	ADJ
ejge-8767	56	14	performance	performance	NOUN
ejge-8767	56	15	(	(	PUNCT
ejge-8767	56	16	including	include	VERB
ejge-8767	56	17	,	,	PUNCT
ejge-8767	56	18	but	but	CCONJ
ejge-8767	56	19	not	not	PART
ejge-8767	56	20	limited	limit	VERB
ejge-8767	56	21	to	to	ADP
ejge-8767	56	22	,	,	PUNCT
ejge-8767	56	23	past	past	ADP
ejge-8767	56	24	performance	performance	NOUN
ejge-8767	56	25	,	,	PUNCT
ejge-8767	56	26	morningstar	morningstar	NOUN
ejge-8767	56	27	ratings	rating	NOUN
ejge-8767	56	28	,	,	PUNCT
ejge-8767	56	29	and	and	CCONJ
ejge-8767	56	30	the	the	DET
ejge-8767	56	31	expense	expense	NOUN
ejge-8767	56	32	ratio	ratio	NOUN
ejge-8767	56	33	)	)	PUNCT
ejge-8767	56	34	,	,	PUNCT
ejge-8767	56	35	concluding	conclude	VERB
ejge-8767	56	36	that	that	SCONJ
ejge-8767	56	37	only	only	ADV
ejge-8767	56	38	the	the	DET
ejge-8767	56	39	expense	expense	NOUN
ejge-8767	56	40	ratio	ratio	NOUN
ejge-8767	56	41	is	be	AUX
ejge-8767	56	42	can	can	AUX
ejge-8767	56	43	of	of	ADP
ejge-8767	56	44	predicting	predict	VERB
ejge-8767	56	45	future	future	ADJ
ejge-8767	56	46	performance	performance	NOUN
ejge-8767	56	47	.	.	PUNCT
ejge-8767	57	1	this	this	PRON
ejge-8767	57	2	goes	go	VERB
ejge-8767	57	3	against	against	ADP
ejge-8767	57	4	cremers	cremer	NOUN
ejge-8767	57	5	and	and	CCONJ
ejge-8767	57	6	petajisto	petajisto	NOUN
ejge-8767	57	7	(	(	PUNCT
ejge-8767	57	8	2009	2009	NUM
ejge-8767	57	9	)	)	PUNCT
ejge-8767	57	10	and	and	CCONJ
ejge-8767	57	11	petajisto	petajisto	NOUN
ejge-8767	57	12	(	(	PUNCT
ejge-8767	57	13	2013	2013	NUM
ejge-8767	57	14	)	)	PUNCT
ejge-8767	57	15	,	,	PUNCT
ejge-8767	57	16	who	who	PRON
ejge-8767	57	17	found	find	VERB
ejge-8767	57	18	that	that	SCONJ
ejge-8767	57	19	the	the	DET
ejge-8767	57	20	expense	expense	NOUN
ejge-8767	57	21	index	index	NOUN
ejge-8767	57	22	is	be	AUX
ejge-8767	57	23	not	not	PART
ejge-8767	57	24	a	a	DET
ejge-8767	57	25	good	good	ADJ
ejge-8767	57	26	variable	variable	NOUN
ejge-8767	57	27	to	to	PART
ejge-8767	57	28	predict	predict	VERB
ejge-8767	57	29	future	future	ADJ
ejge-8767	57	30	profitability	profitability	NOUN
ejge-8767	57	31	as	as	SCONJ
ejge-8767	57	32	they	they	PRON
ejge-8767	57	33	are	be	AUX
ejge-8767	57	34	the	the	DET
ejge-8767	57	35	so	so	ADV
ejge-8767	57	36	-	-	PUNCT
ejge-8767	57	37	called	call	VERB
ejge-8767	57	38	“	"	PUNCT
ejge-8767	57	39	active	active	ADJ
ejge-8767	57	40	share	share	NOUN
ejge-8767	57	41	”	"	PUNCT
ejge-8767	57	42	,	,	PUNCT
ejge-8767	57	43	the	the	DET
ejge-8767	57	44	size	size	NOUN
ejge-8767	57	45	or	or	CCONJ
ejge-8767	57	46	past	past	ADJ
ejge-8767	57	47	returns	return	NOUN
ejge-8767	57	48	.	.	PUNCT
ejge-8767	58	1	several	several	ADJ
ejge-8767	58	2	studies	study	NOUN
ejge-8767	58	3	directly	directly	ADV
ejge-8767	58	4	attributed	attribute	VERB
ejge-8767	58	5	the	the	DET
ejge-8767	58	6	poor	poor	ADJ
ejge-8767	58	7	performance	performance	NOUN
ejge-8767	58	8	of	of	ADP
ejge-8767	58	9	funds	fund	NOUN
ejge-8767	58	10	to	to	ADP
ejge-8767	58	11	increased	increase	VERB
ejge-8767	58	12	expenses	expense	NOUN
ejge-8767	58	13	resulting	result	VERB
ejge-8767	58	14	from	from	ADP
ejge-8767	58	15	management	management	NOUN
ejge-8767	58	16	costs	cost	NOUN
ejge-8767	58	17	,	,	PUNCT
ejge-8767	58	18	such	such	ADJ
ejge-8767	58	19	as	as	ADP
ejge-8767	58	20	berk	berk	PROPN
ejge-8767	58	21	and	and	CCONJ
ejge-8767	58	22	green	green	ADJ
ejge-8767	58	23	(	(	PUNCT
ejge-8767	58	24	2004	2004	NUM
ejge-8767	58	25	)	)	PUNCT
ejge-8767	58	26	.	.	PUNCT
ejge-8767	59	1	the	the	DET
ejge-8767	59	2	result	result	NOUN
ejge-8767	59	3	is	be	AUX
ejge-8767	59	4	repeated	repeat	VERB
ejge-8767	59	5	in	in	ADP
ejge-8767	59	6	the	the	DET
ejge-8767	59	7	united	united	ADJ
ejge-8767	59	8	kingdom	kingdom	PROPN
ejge-8767	59	9	(	(	PUNCT
ejge-8767	59	10	cuthbertson	cuthbertson	PROPN
ejge-8767	59	11	,	,	PUNCT
ejge-8767	59	12	nitzsche	nitzsche	NOUN
ejge-8767	59	13	and	and	CCONJ
ejge-8767	59	14	o'sullivan	o'sullivan	PROPN
ejge-8767	59	15	,	,	PUNCT
ejge-8767	59	16	2006	2006	NUM
ejge-8767	59	17	)	)	PUNCT
ejge-8767	59	18	and	and	CCONJ
ejge-8767	59	19	spain	spain	PROPN
ejge-8767	59	20	(	(	PUNCT
ejge-8767	59	21	matallin	matallin	PROPN
ejge-8767	59	22	-	-	PUNCT
ejge-8767	59	23	saez	saez	PROPN
ejge-8767	59	24	,	,	PUNCT
ejge-8767	59	25	soler	soler	PROPN
ejge-8767	59	26	-	-	PUNCT
ejge-8767	59	27	dominguez	dominguez	PROPN
ejge-8767	59	28	and	and	CCONJ
ejge-8767	59	29	tortosa	tortosa	PROPN
ejge-8767	59	30	-	-	PUNCT
ejge-8767	59	31	ausina	ausina	NOUN
ejge-8767	59	32	,	,	PUNCT
ejge-8767	59	33	2012	2012	NUM
ejge-8767	59	34	)	)	PUNCT
ejge-8767	59	35	,	,	PUNCT
ejge-8767	59	36	reaching	reach	VERB
ejge-8767	59	37	conclusions	conclusion	NOUN
ejge-8767	59	38	comparable	comparable	ADJ
ejge-8767	59	39	with	with	ADP
ejge-8767	59	40	studies	study	NOUN
ejge-8767	59	41	in	in	ADP
ejge-8767	59	42	the	the	DET
ejge-8767	59	43	united	united	PROPN
ejge-8767	59	44	states	states	PROPN
ejge-8767	59	45	.	.	PUNCT
ejge-8767	60	1	based	base	VERB
ejge-8767	60	2	on	on	ADP
ejge-8767	60	3	the	the	DET
ejge-8767	60	4	previous	previous	ADJ
ejge-8767	60	5	literature	literature	NOUN
ejge-8767	60	6	,	,	PUNCT
ejge-8767	60	7	our	our	PRON
ejge-8767	60	8	second	second	ADJ
ejge-8767	60	9	research	research	NOUN
ejge-8767	60	10	hypothesis	hypothesis	NOUN
ejge-8767	60	11	is	be	AUX
ejge-8767	60	12	:	:	PUNCT
ejge-8767	60	13	h2	h2	NOUN
ejge-8767	60	14	:	:	PUNCT
ejge-8767	60	15	mutual	mutual	ADJ
ejge-8767	60	16	fund	fund	NOUN
ejge-8767	60	17	expenses	expense	NOUN
ejge-8767	60	18	have	have	VERB
ejge-8767	60	19	the	the	DET
ejge-8767	60	20	power	power	NOUN
ejge-8767	60	21	to	to	PART
ejge-8767	60	22	predict	predict	VERB
ejge-8767	60	23	future	future	ADJ
ejge-8767	60	24	performance	performance	NOUN
ejge-8767	60	25	.	.	PUNCT
ejge-8767	61	1	2.3	2.3	NUM
ejge-8767	61	2	morningstar	morningstar	NOUN
ejge-8767	61	3	ratings	rating	NOUN
ejge-8767	61	4	another	another	DET
ejge-8767	61	5	relevant	relevant	ADJ
ejge-8767	61	6	issue	issue	NOUN
ejge-8767	61	7	is	be	AUX
ejge-8767	61	8	the	the	DET
ejge-8767	61	9	relationship	relationship	NOUN
ejge-8767	61	10	between	between	ADP
ejge-8767	61	11	the	the	DET
ejge-8767	61	12	rating	rating	NOUN
ejge-8767	61	13	or	or	CCONJ
ejge-8767	61	14	rating	rating	NOUN
ejge-8767	61	15	of	of	ADP
ejge-8767	61	16	a	a	DET
ejge-8767	61	17	fund	fund	NOUN
ejge-8767	61	18	and	and	CCONJ
ejge-8767	61	19	its	its	PRON
ejge-8767	61	20	level	level	NOUN
ejge-8767	61	21	of	of	ADP
ejge-8767	61	22	expenses	expense	NOUN
ejge-8767	61	23	.	.	PUNCT
ejge-8767	62	1	investors	investor	NOUN
ejge-8767	62	2	frequently	frequently	ADV
ejge-8767	62	3	use	use	VERB
ejge-8767	62	4	ratings	rating	NOUN
ejge-8767	62	5	to	to	PART
ejge-8767	62	6	select	select	VERB
ejge-8767	62	7	investment	investment	NOUN
ejge-8767	62	8	funds	fund	NOUN
ejge-8767	62	9	(	(	PUNCT
ejge-8767	62	10	otero	otero	NOUN
ejge-8767	62	11	and	and	CCONJ
ejge-8767	62	12	durán	durán	NOUN
ejge-8767	62	13	,	,	PUNCT
ejge-8767	62	14	2021	2021	NUM
ejge-8767	62	15	)	)	PUNCT
ejge-8767	62	16	.	.	PUNCT
ejge-8767	63	1	howe	howe	NOUN
ejge-8767	63	2	and	and	CCONJ
ejge-8767	63	3	pope	pope	PROPN
ejge-8767	63	4	(	(	PUNCT
ejge-8767	63	5	1996	1996	NUM
ejge-8767	63	6	)	)	PUNCT
ejge-8767	63	7	,	,	PUNCT
ejge-8767	63	8	blake	blake	NOUN
ejge-8767	63	9	and	and	CCONJ
ejge-8767	63	10	morey	morey	PROPN
ejge-8767	63	11	(	(	PUNCT
ejge-8767	63	12	2000	2000	NUM
ejge-8767	63	13	)	)	PUNCT
ejge-8767	63	14	,	,	PUNCT
ejge-8767	63	15	morey	morey	PROPN
ejge-8767	63	16	and	and	CCONJ
ejge-8767	63	17	gottesman	gottesman	PROPN
ejge-8767	63	18	(	(	PUNCT
ejge-8767	63	19	2006	2006	NUM
ejge-8767	63	20	)	)	PUNCT
ejge-8767	63	21	,	,	PUNCT
ejge-8767	63	22	morey	morey	PROPN
ejge-8767	63	23	(	(	PUNCT
ejge-8767	63	24	2005	2005	NUM
ejge-8767	63	25	)	)	PUNCT
ejge-8767	63	26	,	,	PUNCT
ejge-8767	63	27	duret	duret	NOUN
ejge-8767	63	28	et	et	PROPN
ejge-8767	63	29	al	al	PROPN
ejge-8767	63	30	.	.	PUNCT
ejge-8767	63	31	(	(	PUNCT
ejge-8767	63	32	2008	2008	NUM
ejge-8767	63	33	)	)	PUNCT
ejge-8767	63	34	,	,	PUNCT
ejge-8767	63	35	philips	philip	NOUN
ejge-8767	63	36	and	and	CCONJ
ejge-8767	63	37	kinniry	kinniry	NOUN
ejge-8767	63	38	(	(	PUNCT
ejge-8767	63	39	2010	2010	NUM
ejge-8767	63	40	)	)	PUNCT
ejge-8767	63	41	and	and	CCONJ
ejge-8767	63	42	chotivetthamrong	chotivetthamrong	NOUN
ejge-8767	63	43	(	(	PUNCT
ejge-8767	63	44	2015	2015	NUM
ejge-8767	63	45	)	)	PUNCT
ejge-8767	63	46	studied	study	VERB
ejge-8767	63	47	ratings	rating	NOUN
ejge-8767	63	48	and	and	CCONJ
ejge-8767	63	49	their	their	PRON
ejge-8767	63	50	predictive	predictive	ADJ
ejge-8767	63	51	power	power	NOUN
ejge-8767	63	52	,	,	PUNCT
ejge-8767	63	53	concluding	conclude	VERB
ejge-8767	63	54	that	that	SCONJ
ejge-8767	63	55	they	they	PRON
ejge-8767	63	56	have	have	VERB
ejge-8767	63	57	little	little	ADJ
ejge-8767	63	58	power	power	NOUN
ejge-8767	63	59	to	to	PART
ejge-8767	63	60	predict	predict	VERB
ejge-8767	63	61	future	future	ADJ
ejge-8767	63	62	performance	performance	NOUN
ejge-8767	63	63	.	.	PUNCT
ejge-8767	64	1	blake	blake	NOUN
ejge-8767	64	2	and	and	CCONJ
ejge-8767	64	3	morey	morey	PROPN
ejge-8767	64	4	(	(	PUNCT
ejge-8767	64	5	2000	2000	NUM
ejge-8767	64	6	)	)	PUNCT
ejge-8767	64	7	studied	study	VERB
ejge-8767	64	8	the	the	DET
ejge-8767	64	9	rating	rating	NOUN
ejge-8767	64	10	obtained	obtain	VERB
ejge-8767	64	11	by	by	ADP
ejge-8767	64	12	morningstar	morningstar	NOUN
ejge-8767	64	13	,	,	PUNCT
ejge-8767	64	14	showing	show	VERB
ejge-8767	64	15	that	that	SCONJ
ejge-8767	64	16	a	a	DET
ejge-8767	64	17	low	low	ADJ
ejge-8767	64	18	rating	rating	NOUN
ejge-8767	64	19	was	be	AUX
ejge-8767	64	20	a	a	DET
ejge-8767	64	21	good	good	ADJ
ejge-8767	64	22	predictor	predictor	NOUN
ejge-8767	64	23	of	of	ADP
ejge-8767	64	24	future	future	ADJ
ejge-8767	64	25	bad	bad	ADJ
ejge-8767	64	26	behaviour	behaviour	NOUN
ejge-8767	64	27	,	,	PUNCT
ejge-8767	64	28	but	but	CCONJ
ejge-8767	64	29	they	they	PRON
ejge-8767	64	30	no	no	PRON
ejge-8767	64	31	found	find	VERB
ejge-8767	64	32	evidence	evidence	NOUN
ejge-8767	64	33	that	that	SCONJ
ejge-8767	64	34	funds	fund	NOUN
ejge-8767	64	35	with	with	ADP
ejge-8767	64	36	good	good	ADJ
ejge-8767	64	37	ratings	rating	NOUN
ejge-8767	64	38	had	have	AUX
ejge-8767	64	39	a	a	DET
ejge-8767	64	40	better	well	ADJ
ejge-8767	64	41	performance	performance	NOUN
ejge-8767	64	42	than	than	ADP
ejge-8767	64	43	the	the	DET
ejge-8767	64	44	average	average	NOUN
ejge-8767	64	45	.	.	PUNCT
ejge-8767	65	1	a	a	DET
ejge-8767	65	2	later	later	ADJ
ejge-8767	65	3	work	work	NOUN
ejge-8767	65	4	by	by	ADP
ejge-8767	65	5	morey	morey	PROPN
ejge-8767	65	6	(	(	PUNCT
ejge-8767	65	7	2005	2005	NUM
ejge-8767	65	8	)	)	PUNCT
ejge-8767	65	9	focused	focus	VERB
ejge-8767	65	10	on	on	ADP
ejge-8767	65	11	the	the	DET
ejge-8767	65	12	funds	fund	NOUN
ejge-8767	65	13	with	with	ADP
ejge-8767	65	14	the	the	DET
ejge-8767	65	15	best	good	ADJ
ejge-8767	65	16	ratings	rating	NOUN
ejge-8767	65	17	,	,	PUNCT
ejge-8767	65	18	found	find	VERB
ejge-8767	65	19	that	that	SCONJ
ejge-8767	65	20	these	these	PRON
ejge-8767	65	21	had	have	VERB
ejge-8767	65	22	a	a	DET
ejge-8767	65	23	high	high	ADJ
ejge-8767	65	24	probability	probability	NOUN
ejge-8767	65	25	of	of	ADP
ejge-8767	65	26	being	be	AUX
ejge-8767	65	27	worse	bad	ADJ
ejge-8767	65	28	in	in	ADP
ejge-8767	65	29	the	the	DET
ejge-8767	65	30	next	next	ADJ
ejge-8767	65	31	three	three	NUM
ejge-8767	65	32	years	year	NOUN
ejge-8767	65	33	:	:	PUNCT
ejge-8767	65	34	the	the	DET
ejge-8767	65	35	authors	author	NOUN
ejge-8767	65	36	think	think	VERB
ejge-8767	65	37	that	that	SCONJ
ejge-8767	65	38	this	this	PRON
ejge-8767	65	39	is	be	AUX
ejge-8767	65	40	due	due	ADJ
ejge-8767	65	41	to	to	ADP
ejge-8767	65	42	inflows	inflow	NOUN
ejge-8767	65	43	in	in	ADP
ejge-8767	65	44	the	the	DET
ejge-8767	65	45	funds	fund	NOUN
ejge-8767	65	46	with	with	ADP
ejge-8767	65	47	better	well	ADJ
ejge-8767	65	48	ratings	rating	NOUN
ejge-8767	65	49	,	,	PUNCT
ejge-8767	65	50	which	which	PRON
ejge-8767	65	51	makes	make	VERB
ejge-8767	65	52	managers	manager	NOUN
ejge-8767	65	53	unable	unable	ADJ
ejge-8767	65	54	to	to	PART
ejge-8767	65	55	adequately	adequately	ADV
ejge-8767	65	56	accomplish	accomplish	VERB
ejge-8767	65	57	new	new	ADJ
ejge-8767	65	58	flows	flow	NOUN
ejge-8767	65	59	.	.	PUNCT
ejge-8767	66	1	on	on	ADP
ejge-8767	66	2	the	the	DET
ejge-8767	66	3	other	other	ADJ
ejge-8767	66	4	hand	hand	NOUN
ejge-8767	66	5	,	,	PUNCT
ejge-8767	66	6	otero	otero	NOUN
ejge-8767	66	7	,	,	PUNCT
ejge-8767	66	8	durán	durán	NOUN
ejge-8767	66	9	and	and	CCONJ
ejge-8767	66	10	domingues	domingue	NOUN
ejge-8767	66	11	(	(	PUNCT
ejge-8767	66	12	2019	2019	NUM
ejge-8767	66	13	)	)	PUNCT
ejge-8767	66	14	found	find	VERB
ejge-8767	66	15	that	that	SCONJ
ejge-8767	66	16	morningstar	morningstar	PROPN
ejge-8767	66	17	's	's	PART
ejge-8767	66	18	star	star	NOUN
ejge-8767	66	19	rating	rating	NOUN
ejge-8767	66	20	,	,	PUNCT
ejge-8767	66	21	which	which	PRON
ejge-8767	66	22	is	be	AUX
ejge-8767	66	23	the	the	DET
ejge-8767	66	24	main	main	ADJ
ejge-8767	66	25	rating	rating	NOUN
ejge-8767	66	26	analysed	analyse	VERB
ejge-8767	66	27	by	by	ADP
ejge-8767	66	28	the	the	DET
ejge-8767	66	29	investor	investor	NOUN
ejge-8767	66	30	,	,	PUNCT
ejge-8767	66	31	can	can	AUX
ejge-8767	66	32	predict	predict	VERB
ejge-8767	66	33	short	short	ADJ
ejge-8767	66	34	and	and	CCONJ
ejge-8767	66	35	medium	medium	ADJ
ejge-8767	66	36	-	-	PUNCT
ejge-8767	66	37	term	term	NOUN
ejge-8767	66	38	performance	performance	NOUN
ejge-8767	66	39	and	and	CCONJ
ejge-8767	66	40	the	the	DET
ejge-8767	66	41	authors	author	NOUN
ejge-8767	66	42	find	find	VERB
ejge-8767	66	43	evidence	evidence	NOUN
ejge-8767	66	44	that	that	SCONJ
ejge-8767	66	45	the	the	DET
ejge-8767	66	46	expenses	expense	NOUN
ejge-8767	66	47	may	may	AUX
ejge-8767	66	48	partly	partly	ADV
ejge-8767	66	49	explain	explain	VERB
ejge-8767	66	50	the	the	DET
ejge-8767	66	51	classification	classification	NOUN
ejge-8767	66	52	.	.	PUNCT
ejge-8767	67	1	morey	morey	PROPN
ejge-8767	67	2	and	and	CCONJ
ejge-8767	67	3	gottesman	gottesman	PROPN
ejge-8767	67	4	(	(	PUNCT
ejge-8767	67	5	2006	2006	NUM
ejge-8767	67	6	)	)	PUNCT
ejge-8767	67	7	,	,	PUNCT
ejge-8767	67	8	müller	müller	PROPN
ejge-8767	67	9	and	and	CCONJ
ejge-8767	67	10	weber	weber	PROPN
ejge-8767	67	11	(	(	PUNCT
ejge-8767	67	12	2014	2014	NUM
ejge-8767	67	13	)	)	PUNCT
ejge-8767	67	14	,	,	PUNCT
ejge-8767	67	15	meinhardt	meinhardt	ADJ
ejge-8767	67	16	(	(	PUNCT
ejge-8767	67	17	2014	2014	NUM
ejge-8767	67	18	)	)	PUNCT
ejge-8767	67	19	,	,	PUNCT
ejge-8767	67	20	antypas	antypas	PROPN
ejge-8767	67	21	,	,	PUNCT
ejge-8767	67	22	caporale	caporale	NOUN
ejge-8767	67	23	,	,	PUNCT
ejge-8767	67	24	kourogenis	kourogenis	NOUN
ejge-8767	67	25	and	and	CCONJ
ejge-8767	67	26	pittis	pittis	PROPN
ejge-8767	67	27	(	(	PUNCT
ejge-8767	67	28	2009	2009	NUM
ejge-8767	67	29	)	)	PUNCT
ejge-8767	67	30	reach	reach	VERB
ejge-8767	67	31	similar	similar	ADJ
ejge-8767	67	32	conclusions	conclusion	NOUN
ejge-8767	67	33	.	.	PUNCT
ejge-8767	68	1	otero	otero	PROPN
ejge-8767	68	2	and	and	CCONJ
ejge-8767	68	3	duran	duran	PROPN
ejge-8767	68	4	(	(	PUNCT
ejge-8767	68	5	2021	2021	NUM
ejge-8767	68	6	)	)	PUNCT
ejge-8767	68	7	find	find	VERB
ejge-8767	68	8	that	that	SCONJ
ejge-8767	68	9	star	star	NOUN
ejge-8767	68	10	ratings	rating	NOUN
ejge-8767	68	11	can	can	AUX
ejge-8767	68	12	have	have	VERB
ejge-8767	68	13	predictive	predictive	ADJ
ejge-8767	68	14	power	power	NOUN
ejge-8767	68	15	.	.	PUNCT
ejge-8767	69	1	this	this	DET
ejge-8767	69	2	power	power	NOUN
ejge-8767	69	3	can	can	AUX
ejge-8767	69	4	be	be	AUX
ejge-8767	69	5	improved	improve	VERB
ejge-8767	69	6	when	when	SCONJ
ejge-8767	69	7	it	it	PRON
ejge-8767	69	8	is	be	AUX
ejge-8767	69	9	used	use	VERB
ejge-8767	69	10	to	to	PART
ejge-8767	69	11	complement	complement	VERB
ejge-8767	69	12	another´s	another´s	PROPN
ejge-8767	69	13	variables	variable	NOUN
ejge-8767	69	14	such	such	ADJ
ejge-8767	69	15	as	as	ADP
ejge-8767	69	16	costs	cost	NOUN
ejge-8767	69	17	and	and	CCONJ
ejge-8767	69	18	analysts	analyst	NOUN
ejge-8767	69	19	’	’	PART
ejge-8767	69	20	ratings	rating	NOUN
ejge-8767	69	21	.	.	PUNCT
ejge-8767	70	1	1	1	NUM
ejge-8767	70	2	study	study	NOUN
ejge-8767	70	3	carried	carry	VERB
ejge-8767	70	4	out	out	ADP
ejge-8767	70	5	in	in	ADP
ejge-8767	70	6	2010	2010	NUM
ejge-8767	70	7	and	and	CCONJ
ejge-8767	70	8	updated	update	VERB
ejge-8767	70	9	in	in	ADP
ejge-8767	70	10	2016	2016	NUM
ejge-8767	70	11	.	.	PUNCT
ejge-8767	71	1	see	see	VERB
ejge-8767	71	2	:	:	PUNCT
ejge-8767	71	3	https://www.morningstar.com/articles/347327/how-expense-ratiosand-star-ratings-predict-success	https://www.morningstar.com/articles/347327/how-expense-ratiosand-star-ratings-predict-success	VERB
ejge-8767	71	4	and	and	CCONJ
ejge-8767	71	5	https://www.morningstar.com/articles/752485/fund-fees-predict-future-success-orfailure	https://www.morningstar.com/articles/752485/fund-fees-predict-future-success-orfailure	VERB
ejge-8767	71	6	the	the	DET
ejge-8767	71	7	other	other	ADJ
ejge-8767	71	8	variable	variable	NOUN
ejge-8767	71	9	that	that	PRON
ejge-8767	71	10	the	the	DET
ejge-8767	71	11	study	study	NOUN
ejge-8767	71	12	considers	consider	VERB
ejge-8767	71	13	to	to	PART
ejge-8767	71	14	have	have	VERB
ejge-8767	71	15	an	an	DET
ejge-8767	71	16	impact	impact	NOUN
ejge-8767	71	17	on	on	ADP
ejge-8767	71	18	future	future	ADJ
ejge-8767	71	19	performance	performance	NOUN
ejge-8767	71	20	,	,	PUNCT
ejge-8767	71	21	to	to	ADP
ejge-8767	71	22	a	a	DET
ejge-8767	71	23	lesser	less	ADJ
ejge-8767	71	24	extent	extent	NOUN
ejge-8767	71	25	,	,	PUNCT
ejge-8767	71	26	are	be	AUX
ejge-8767	71	27	sta	sta	NOUN
ejge-8767	71	28	ratings	rating	NOUN
ejge-8767	71	29	.	.	PUNCT
ejge-8767	72	1	https://www.morningstar.com/articles/347327/how-expense-ratios-and-star-ratings-predict-success	https://www.morningstar.com/articles/347327/how-expense-ratios-and-star-ratings-predict-success	PROPN
ejge-8767	72	2	https://www.morningstar.com/articles/347327/how-expense-ratios-and-star-ratings-predict-success	https://www.morningstar.com/articles/347327/how-expense-ratios-and-star-ratings-predict-success	PROPN
ejge-8767	72	3	https://www.morningstar.com/articles/752485/fund-fees-predict-future-success-or-failure	https://www.morningstar.com/articles/752485/fund-fees-predict-future-success-or-failure	PROPN
ejge-8767	72	4	https://www.morningstar.com/articles/752485/fund-fees-predict-future-success-or-failure	https://www.morningstar.com/articles/752485/fund-fees-predict-future-success-or-failure	X
ejge-8767	72	5	renato	renato	PROPN
ejge-8767	72	6	correia	correia	PROPN
ejge-8767	72	7	-	-	PUNCT
ejge-8767	72	8	domingues	domingue	NOUN
ejge-8767	72	9	et	et	PROPN
ejge-8767	72	10	al	al	PROPN
ejge-8767	72	11	.	.	PUNCT
ejge-8767	72	12	/	/	SYM
ejge-8767	72	13	european	european	PROPN
ejge-8767	72	14	journal	journal	PROPN
ejge-8767	72	15	of	of	ADP
ejge-8767	72	16	government	government	NOUN
ejge-8767	72	17	and	and	CCONJ
ejge-8767	72	18	economics	economic	NOUN
ejge-8767	72	19	11(1	11(1	NUM
ejge-8767	72	20	)	)	PUNCT
ejge-8767	72	21	,	,	PUNCT
ejge-8767	72	22	june	june	PROPN
ejge-8767	72	23	2022	2022	NUM
ejge-8767	72	24	,	,	PUNCT
ejge-8767	72	25	31	31	NUM
ejge-8767	72	26	-	-	SYM
ejge-8767	72	27	50	50	NUM
ejge-8767	72	28	35	35	NUM
ejge-8767	72	29	h3	h3	NOUN
ejge-8767	72	30	:	:	PUNCT
ejge-8767	72	31	combining	combine	VERB
ejge-8767	72	32	morningstar	morningstar	PROPN
ejge-8767	72	33	star	star	PROPN
ejge-8767	72	34	ratings	rating	NOUN
ejge-8767	72	35	with	with	ADP
ejge-8767	72	36	mutual	mutual	ADJ
ejge-8767	72	37	funds	fund	NOUN
ejge-8767	72	38	expenses	expense	NOUN
ejge-8767	72	39	help	help	AUX
ejge-8767	72	40	understand	understand	VERB
ejge-8767	72	41	the	the	DET
ejge-8767	72	42	funds	fund	NOUN
ejge-8767	72	43	that	that	PRON
ejge-8767	72	44	outperform	outperform	VERB
ejge-8767	72	45	their	their	PRON
ejge-8767	72	46	benchmark	benchmark	NOUN
ejge-8767	72	47	.	.	PUNCT
ejge-8767	73	1	3	3	X
ejge-8767	73	2	.	.	X
ejge-8767	73	3	sample	sample	NOUN
ejge-8767	73	4	and	and	CCONJ
ejge-8767	73	5	performance	performance	NOUN
ejge-8767	73	6	metrics	metric	NOUN
ejge-8767	73	7	the	the	DET
ejge-8767	73	8	sample	sample	NOUN
ejge-8767	73	9	is	be	AUX
ejge-8767	73	10	made	make	VERB
ejge-8767	73	11	up	up	ADP
ejge-8767	73	12	of	of	ADP
ejge-8767	73	13	euro	euro	PROPN
ejge-8767	73	14	area	area	NOUN
ejge-8767	73	15	equity	equity	NOUN
ejge-8767	73	16	mutual	mutual	ADJ
ejge-8767	73	17	funds	fund	NOUN
ejge-8767	73	18	rated	rate	VERB
ejge-8767	73	19	by	by	ADP
ejge-8767	73	20	morningstar	morningstar	NOUN
ejge-8767	73	21	with	with	ADP
ejge-8767	73	22	a	a	DET
ejge-8767	73	23	quantitative	quantitative	ADJ
ejge-8767	73	24	star	star	NOUN
ejge-8767	73	25	rating	rating	NOUN
ejge-8767	73	26	,	,	PUNCT
ejge-8767	73	27	for	for	ADP
ejge-8767	73	28	the	the	DET
ejge-8767	73	29	period	period	NOUN
ejge-8767	73	30	between	between	ADP
ejge-8767	73	31	2003	2003	NUM
ejge-8767	73	32	and	and	CCONJ
ejge-8767	73	33	2014	2014	NUM
ejge-8767	73	34	.	.	PUNCT
ejge-8767	74	1	we	we	PRON
ejge-8767	74	2	limit	limit	VERB
ejge-8767	74	3	our	our	PRON
ejge-8767	74	4	sample	sample	NOUN
ejge-8767	74	5	to	to	ADP
ejge-8767	74	6	funds	fund	NOUN
ejge-8767	74	7	included	include	VERB
ejge-8767	74	8	in	in	ADP
ejge-8767	74	9	the	the	DET
ejge-8767	74	10	following	follow	VERB
ejge-8767	74	11	morningstar	morningstar	NOUN
ejge-8767	74	12	categories	category	NOUN
ejge-8767	74	13	:	:	PUNCT
ejge-8767	74	14	eurozone	eurozone	NUM
ejge-8767	74	15	flex	flex	ADJ
ejge-8767	74	16	-	-	PUNCT
ejge-8767	74	17	cap	cap	NOUN
ejge-8767	74	18	equity	equity	NOUN
ejge-8767	74	19	,	,	PUNCT
ejge-8767	74	20	eurozone	eurozone	NOUN
ejge-8767	74	21	large	large	ADJ
ejge-8767	74	22	-	-	PUNCT
ejge-8767	74	23	cap	cap	NOUN
ejge-8767	74	24	equity	equity	NOUN
ejge-8767	74	25	,	,	PUNCT
ejge-8767	74	26	eurozone	eurozone	ADJ
ejge-8767	74	27	mid	mid	ADJ
ejge-8767	74	28	-	-	ADJ
ejge-8767	74	29	cap	cap	NOUN
ejge-8767	74	30	equity	equity	NOUN
ejge-8767	74	31	and	and	CCONJ
ejge-8767	74	32	eurozone	eurozone	NOUN
ejge-8767	74	33	small	small	ADJ
ejge-8767	74	34	-	-	PUNCT
ejge-8767	74	35	cap	cap	NOUN
ejge-8767	74	36	equity	equity	NOUN
ejge-8767	74	37	.	.	PUNCT
ejge-8767	75	1	the	the	DET
ejge-8767	75	2	funds	fund	NOUN
ejge-8767	75	3	are	be	AUX
ejge-8767	75	4	of	of	ADP
ejge-8767	75	5	the	the	DET
ejge-8767	75	6	"	"	PUNCT
ejge-8767	75	7	open	open	ADJ
ejge-8767	75	8	funds	fund	NOUN
ejge-8767	75	9	"	"	PUNCT
ejge-8767	75	10	category	category	NOUN
ejge-8767	75	11	,	,	PUNCT
ejge-8767	75	12	that	that	ADV
ejge-8767	75	13	is	is	ADV
ejge-8767	75	14	,	,	PUNCT
ejge-8767	75	15	those	those	PRON
ejge-8767	75	16	that	that	PRON
ejge-8767	75	17	have	have	VERB
ejge-8767	75	18	a	a	DET
ejge-8767	75	19	variable	variable	ADJ
ejge-8767	75	20	number	number	NOUN
ejge-8767	75	21	of	of	ADP
ejge-8767	75	22	shares	share	NOUN
ejge-8767	75	23	.	.	PUNCT
ejge-8767	76	1	fund	fund	NOUN
ejge-8767	76	2	selection	selection	NOUN
ejge-8767	76	3	was	be	AUX
ejge-8767	76	4	made	make	VERB
ejge-8767	76	5	for	for	ADP
ejge-8767	76	6	all	all	DET
ejge-8767	76	7	active	active	ADJ
ejge-8767	76	8	and	and	CCONJ
ejge-8767	76	9	inactive	inactive	ADJ
ejge-8767	76	10	funds	fund	NOUN
ejge-8767	76	11	to	to	PART
ejge-8767	76	12	avoid	avoid	VERB
ejge-8767	76	13	the	the	DET
ejge-8767	76	14	so	so	ADV
ejge-8767	76	15	-	-	PUNCT
ejge-8767	76	16	called	call	VERB
ejge-8767	76	17	survival	survival	NOUN
ejge-8767	76	18	bias	bias	NOUN
ejge-8767	76	19	.	.	PUNCT
ejge-8767	77	1	in	in	ADP
ejge-8767	77	2	addition	addition	NOUN
ejge-8767	77	3	,	,	PUNCT
ejge-8767	77	4	to	to	PART
ejge-8767	77	5	avoid	avoid	VERB
ejge-8767	77	6	multicollinearity	multicollinearity	NOUN
ejge-8767	77	7	problems	problem	NOUN
ejge-8767	77	8	,	,	PUNCT
ejge-8767	77	9	a	a	DET
ejge-8767	77	10	single	single	ADJ
ejge-8767	77	11	class	class	NOUN
ejge-8767	77	12	was	be	AUX
ejge-8767	77	13	selected	select	VERB
ejge-8767	77	14	for	for	ADP
ejge-8767	77	15	each	each	DET
ejge-8767	77	16	fund	fund	NOUN
ejge-8767	77	17	,	,	PUNCT
ejge-8767	77	18	according	accord	VERB
ejge-8767	77	19	to	to	ADP
ejge-8767	77	20	the	the	DET
ejge-8767	77	21	following	follow	VERB
ejge-8767	77	22	preferences	preference	NOUN
ejge-8767	77	23	(	(	PUNCT
ejge-8767	77	24	ordered	order	VERB
ejge-8767	77	25	from	from	ADP
ejge-8767	77	26	highest	high	ADJ
ejge-8767	77	27	to	to	PART
ejge-8767	77	28	lowest	low	ADJ
ejge-8767	77	29	priority	priority	NOUN
ejge-8767	77	30	):	):	PUNCT
ejge-8767	77	31	institutional	institutional	ADJ
ejge-8767	77	32	class	class	NOUN
ejge-8767	77	33	,	,	PUNCT
ejge-8767	77	34	lowest	low	ADJ
ejge-8767	77	35	administrative	administrative	ADJ
ejge-8767	77	36	expenses	expense	NOUN
ejge-8767	77	37	,	,	PUNCT
ejge-8767	77	38	lowest	low	ADJ
ejge-8767	77	39	net	net	ADJ
ejge-8767	77	40	expenses	expense	NOUN
ejge-8767	77	41	,	,	PUNCT
ejge-8767	77	42	higher	high	ADJ
ejge-8767	77	43	volume	volume	NOUN
ejge-8767	77	44	of	of	ADP
ejge-8767	77	45	assets	asset	NOUN
ejge-8767	77	46	,	,	PUNCT
ejge-8767	77	47	older	old	ADJ
ejge-8767	77	48	start	start	VERB
ejge-8767	77	49	date	date	NOUN
ejge-8767	77	50	and	and	CCONJ
ejge-8767	77	51	preferably	preferably	ADV
ejge-8767	77	52	accumulation	accumulation	NOUN
ejge-8767	77	53	class	class	NOUN
ejge-8767	77	54	(	(	PUNCT
ejge-8767	77	55	vs.	vs.	X
ejge-8767	77	56	distribution	distribution	NOUN
ejge-8767	77	57	classes	class	NOUN
ejge-8767	77	58	)	)	PUNCT
ejge-8767	77	59	.	.	PUNCT
ejge-8767	78	1	our	our	PRON
ejge-8767	78	2	final	final	ADJ
ejge-8767	78	3	sample	sample	NOUN
ejge-8767	78	4	is	be	AUX
ejge-8767	78	5	an	an	DET
ejge-8767	78	6	unbalanced	unbalanced	ADJ
ejge-8767	78	7	panel	panel	NOUN
ejge-8767	78	8	with	with	ADP
ejge-8767	78	9	data	datum	NOUN
ejge-8767	78	10	from	from	ADP
ejge-8767	78	11	2003	2003	NUM
ejge-8767	78	12	to	to	ADP
ejge-8767	78	13	2014	2014	NUM
ejge-8767	78	14	made	make	VERB
ejge-8767	78	15	up	up	ADP
ejge-8767	78	16	of	of	ADP
ejge-8767	78	17	1,763	1,763	NUM
ejge-8767	78	18	observations	observation	NOUN
ejge-8767	78	19	.	.	PUNCT
ejge-8767	79	1	table	table	NOUN
ejge-8767	79	2	1	1	NUM
ejge-8767	79	3	summarizes	summarize	NOUN
ejge-8767	79	4	the	the	DET
ejge-8767	79	5	number	number	NOUN
ejge-8767	79	6	of	of	ADP
ejge-8767	79	7	funds	fund	NOUN
ejge-8767	79	8	by	by	ADP
ejge-8767	79	9	category	category	NOUN
ejge-8767	79	10	and	and	CCONJ
ejge-8767	79	11	rating	rating	NOUN
ejge-8767	79	12	,	,	PUNCT
ejge-8767	79	13	and	and	CCONJ
ejge-8767	79	14	the	the	DET
ejge-8767	79	15	mean	mean	ADJ
ejge-8767	79	16	and	and	CCONJ
ejge-8767	79	17	standard	standard	ADJ
ejge-8767	79	18	deviation	deviation	NOUN
ejge-8767	79	19	of	of	ADP
ejge-8767	79	20	the	the	DET
ejge-8767	79	21	level	level	NOUN
ejge-8767	79	22	of	of	ADP
ejge-8767	79	23	expenditures	expenditure	NOUN
ejge-8767	79	24	.	.	PUNCT
ejge-8767	80	1	thus	thus	ADV
ejge-8767	80	2	,	,	PUNCT
ejge-8767	80	3	the	the	DET
ejge-8767	80	4	sample	sample	NOUN
ejge-8767	80	5	is	be	AUX
ejge-8767	80	6	made	make	VERB
ejge-8767	80	7	up	up	ADP
ejge-8767	80	8	of	of	ADP
ejge-8767	80	9	118	118	NUM
ejge-8767	80	10	funds	fund	NOUN
ejge-8767	80	11	from	from	ADP
ejge-8767	80	12	the	the	DET
ejge-8767	80	13	flex	flex	ADJ
ejge-8767	80	14	cap	cap	NOUN
ejge-8767	80	15	category	category	NOUN
ejge-8767	80	16	of	of	ADP
ejge-8767	80	17	the	the	DET
ejge-8767	80	18	eurozone	eurozone	NOUN
ejge-8767	80	19	,	,	PUNCT
ejge-8767	80	20	53	53	NUM
ejge-8767	80	21	funds	fund	NOUN
ejge-8767	80	22	from	from	ADP
ejge-8767	80	23	the	the	DET
ejge-8767	80	24	mid	mid	ADJ
ejge-8767	80	25	-	-	ADJ
ejge-8767	80	26	cap	cap	ADJ
ejge-8767	80	27	category	category	NOUN
ejge-8767	80	28	of	of	ADP
ejge-8767	80	29	the	the	DET
ejge-8767	80	30	eurozone	eurozone	NOUN
ejge-8767	80	31	,	,	PUNCT
ejge-8767	80	32	1,117	1,117	NUM
ejge-8767	80	33	funds	fund	NOUN
ejge-8767	80	34	from	from	ADP
ejge-8767	80	35	the	the	DET
ejge-8767	80	36	large	large	ADJ
ejge-8767	80	37	capitalization	capitalization	NOUN
ejge-8767	80	38	category	category	NOUN
ejge-8767	80	39	of	of	ADP
ejge-8767	80	40	the	the	DET
ejge-8767	80	41	zone	zone	NOUN
ejge-8767	80	42	euro	euro	NOUN
ejge-8767	80	43	and	and	CCONJ
ejge-8767	80	44	56	56	NUM
ejge-8767	80	45	euro	euro	NOUN
ejge-8767	80	46	zone	zone	NOUN
ejge-8767	80	47	small	small	ADJ
ejge-8767	80	48	cap	cap	NOUN
ejge-8767	80	49	category	category	NOUN
ejge-8767	80	50	funds	fund	NOUN
ejge-8767	80	51	.	.	PUNCT
ejge-8767	81	1	these	these	DET
ejge-8767	81	2	funds	fund	NOUN
ejge-8767	81	3	are	be	AUX
ejge-8767	81	4	rated	rate	VERB
ejge-8767	81	5	according	accord	VERB
ejge-8767	81	6	to	to	ADP
ejge-8767	81	7	morningstar	morningstar	PROPN
ejge-8767	81	8	star	star	PROPN
ejge-8767	81	9	ratings	rating	NOUN
ejge-8767	81	10	criteria	criterion	NOUN
ejge-8767	81	11	from	from	ADP
ejge-8767	81	12	one	one	NUM
ejge-8767	81	13	to	to	ADP
ejge-8767	81	14	five	five	NUM
ejge-8767	81	15	stars	star	NOUN
ejge-8767	81	16	.	.	PUNCT
ejge-8767	82	1	it	it	PRON
ejge-8767	82	2	is	be	AUX
ejge-8767	82	3	observed	observe	VERB
ejge-8767	82	4	that	that	SCONJ
ejge-8767	82	5	,	,	PUNCT
ejge-8767	82	6	for	for	ADP
ejge-8767	82	7	the	the	DET
ejge-8767	82	8	different	different	ADJ
ejge-8767	82	9	categories	category	NOUN
ejge-8767	82	10	,	,	PUNCT
ejge-8767	82	11	funds	fund	NOUN
ejge-8767	82	12	with	with	ADP
ejge-8767	82	13	fewer	few	ADJ
ejge-8767	82	14	stars	star	NOUN
ejge-8767	82	15	(	(	PUNCT
ejge-8767	82	16	worst	bad	ADJ
ejge-8767	82	17	rating	rating	NOUN
ejge-8767	82	18	)	)	PUNCT
ejge-8767	82	19	have	have	VERB
ejge-8767	82	20	a	a	DET
ejge-8767	82	21	higher	high	ADJ
ejge-8767	82	22	level	level	NOUN
ejge-8767	82	23	of	of	ADP
ejge-8767	82	24	expenditure	expenditure	NOUN
ejge-8767	82	25	than	than	ADP
ejge-8767	82	26	those	those	PRON
ejge-8767	82	27	with	with	ADP
ejge-8767	82	28	more	more	ADJ
ejge-8767	82	29	stars	star	NOUN
ejge-8767	82	30	(	(	PUNCT
ejge-8767	82	31	better	well	ADJ
ejge-8767	82	32	rating	rating	NOUN
ejge-8767	82	33	)	)	PUNCT
ejge-8767	82	34	,	,	PUNCT
ejge-8767	82	35	although	although	SCONJ
ejge-8767	82	36	this	this	DET
ejge-8767	82	37	behaviour	behaviour	NOUN
ejge-8767	82	38	is	be	AUX
ejge-8767	82	39	not	not	PART
ejge-8767	82	40	uniform	uniform	ADJ
ejge-8767	82	41	.	.	PUNCT
ejge-8767	83	1	table	table	NOUN
ejge-8767	83	2	1	1	NUM
ejge-8767	83	3	.	.	X
ejge-8767	83	4	number	number	NOUN
ejge-8767	83	5	of	of	ADP
ejge-8767	83	6	observations	observation	NOUN
ejge-8767	83	7	by	by	ADP
ejge-8767	83	8	category	category	NOUN
ejge-8767	83	9	,	,	PUNCT
ejge-8767	83	10	rating	rating	NOUN
ejge-8767	83	11	and	and	CCONJ
ejge-8767	83	12	level	level	NOUN
ejge-8767	83	13	of	of	ADP
ejge-8767	83	14	expenses	expense	NOUN
ejge-8767	83	15	.	.	PUNCT
ejge-8767	84	1	flex	flex	ADJ
ejge-8767	84	2	cap	cap	NOUN
ejge-8767	84	3	mid	mid	PROPN
ejge-8767	84	4	cap	cap	PROPN
ejge-8767	84	5	stars	star	NOUN
ejge-8767	84	6	obs	obs	PROPN
ejge-8767	84	7	.	.	PUNCT
ejge-8767	85	1	mean	mean	PROPN
ejge-8767	85	2	s.d	s.d	PROPN
ejge-8767	85	3	.	.	PROPN
ejge-8767	85	4	stars	stars	PROPN
ejge-8767	85	5	obs	obs	PROPN
ejge-8767	85	6	.	.	PUNCT
ejge-8767	86	1	mean	mean	PROPN
ejge-8767	86	2	s.d	s.d	PROPN
ejge-8767	86	3	.	.	PROPN
ejge-8767	86	4	1	1	NUM
ejge-8767	86	5	23	23	NUM
ejge-8767	86	6	3.493	3.493	NUM
ejge-8767	86	7	1.439	1.439	NUM
ejge-8767	86	8	1	1	NUM
ejge-8767	86	9	1	1	NUM
ejge-8767	86	10	2.240	2.240	NUM
ejge-8767	86	11	2	2	NUM
ejge-8767	86	12	14	14	NUM
ejge-8767	86	13	2.905	2.905	NUM
ejge-8767	86	14	1.491	1.491	NUM
ejge-8767	86	15	2	2	NUM
ejge-8767	86	16	7	7	NUM
ejge-8767	86	17	1.953	1.953	NUM
ejge-8767	86	18	0.795	0.795	NUM
ejge-8767	86	19	3	3	NUM
ejge-8767	86	20	31	31	NUM
ejge-8767	86	21	2.662	2.662	NUM
ejge-8767	86	22	1.296	1.296	NUM
ejge-8767	86	23	3	3	NUM
ejge-8767	86	24	16	16	NUM
ejge-8767	86	25	1.511	1.511	NUM
ejge-8767	86	26	0.789	0.789	NUM
ejge-8767	86	27	4	4	NUM
ejge-8767	86	28	26	26	NUM
ejge-8767	86	29	2.440	2.440	NUM
ejge-8767	86	30	1.194	1.194	NUM
ejge-8767	86	31	4	4	NUM
ejge-8767	86	32	20	20	NUM
ejge-8767	86	33	1.342	1.342	NUM
ejge-8767	86	34	0.776	0.776	NUM
ejge-8767	86	35	5	5	NUM
ejge-8767	86	36	24	24	NUM
ejge-8767	86	37	2.370	2.370	NUM
ejge-8767	86	38	0.893	0.893	NUM
ejge-8767	86	39	5	5	NUM
ejge-8767	86	40	9	9	NUM
ejge-8767	86	41	1.711	1.711	NUM
ejge-8767	86	42	1.542	1.542	NUM
ejge-8767	86	43	large	large	ADJ
ejge-8767	86	44	cap	cap	NOUN
ejge-8767	86	45	small	small	ADJ
ejge-8767	86	46	cap	cap	NOUN
ejge-8767	86	47	stars	star	VERB
ejge-8767	86	48	obs	obs	PROPN
ejge-8767	86	49	.	.	PUNCT
ejge-8767	87	1	mean	mean	PROPN
ejge-8767	87	2	s.d	s.d	PROPN
ejge-8767	87	3	.	.	PROPN
ejge-8767	87	4	stars	stars	PROPN
ejge-8767	87	5	obs	obs	PROPN
ejge-8767	87	6	.	.	PUNCT
ejge-8767	88	1	mean	mean	PROPN
ejge-8767	88	2	s.d	s.d	PROPN
ejge-8767	88	3	.	.	PROPN
ejge-8767	88	4	1	1	NUM
ejge-8767	88	5	74	74	NUM
ejge-8767	88	6	2.105	2.105	NUM
ejge-8767	88	7	1.089	1.089	NUM
ejge-8767	88	8	1	1	NUM
ejge-8767	88	9	7	7	NUM
ejge-8767	88	10	1.856	1.856	NUM
ejge-8767	88	11	0.733	0.733	NUM
ejge-8767	88	12	2	2	NUM
ejge-8767	88	13	198	198	NUM
ejge-8767	88	14	1.640	1.640	NUM
ejge-8767	88	15	0.839	0.839	NUM
ejge-8767	88	16	2	2	NUM
ejge-8767	88	17	9	9	NUM
ejge-8767	88	18	1.764	1.764	NUM
ejge-8767	88	19	0.710	0.710	NUM
ejge-8767	88	20	3	3	NUM
ejge-8767	88	21	412	412	NUM
ejge-8767	88	22	1.342	1.342	NUM
ejge-8767	88	23	0.793	0.793	NUM
ejge-8767	88	24	3	3	NUM
ejge-8767	88	25	21	21	NUM
ejge-8767	88	26	1.829	1.829	NUM
ejge-8767	88	27	0.985	0.985	NUM
ejge-8767	88	28	4	4	NUM
ejge-8767	88	29	296	296	NUM
ejge-8767	88	30	1.377	1.377	NUM
ejge-8767	88	31	0.940	0.940	NUM
ejge-8767	88	32	4	4	NUM
ejge-8767	88	33	12	12	NUM
ejge-8767	88	34	2.505	2.505	NUM
ejge-8767	88	35	0.966	0.966	NUM
ejge-8767	88	36	5	5	NUM
ejge-8767	88	37	137	137	NUM
ejge-8767	88	38	1.448	1.448	NUM
ejge-8767	88	39	0.984	0.984	NUM
ejge-8767	88	40	5	5	NUM
ejge-8767	88	41	7	7	NUM
ejge-8767	88	42	1.986	1.986	NUM
ejge-8767	88	43	1.107	1.107	NUM
ejge-8767	88	44	renato	renato	PROPN
ejge-8767	88	45	correia	correia	PROPN
ejge-8767	88	46	-	-	PUNCT
ejge-8767	88	47	domingues	domingue	NOUN
ejge-8767	88	48	et	et	PROPN
ejge-8767	88	49	al	al	PROPN
ejge-8767	88	50	.	.	PUNCT
ejge-8767	88	51	/	/	SYM
ejge-8767	88	52	european	european	PROPN
ejge-8767	88	53	journal	journal	PROPN
ejge-8767	88	54	of	of	ADP
ejge-8767	88	55	government	government	NOUN
ejge-8767	88	56	and	and	CCONJ
ejge-8767	88	57	economics	economic	NOUN
ejge-8767	88	58	11(1	11(1	NUM
ejge-8767	88	59	)	)	PUNCT
ejge-8767	88	60	,	,	PUNCT
ejge-8767	88	61	june	june	PROPN
ejge-8767	88	62	2022	2022	NUM
ejge-8767	88	63	,	,	PUNCT
ejge-8767	88	64	31	31	NUM
ejge-8767	88	65	-	-	SYM
ejge-8767	88	66	50	50	NUM
ejge-8767	88	67	36	36	NUM
ejge-8767	88	68	to	to	PART
ejge-8767	88	69	measure	measure	VERB
ejge-8767	88	70	the	the	DET
ejge-8767	88	71	performance	performance	NOUN
ejge-8767	88	72	of	of	ADP
ejge-8767	88	73	mutual	mutual	ADJ
ejge-8767	88	74	funds	fund	NOUN
ejge-8767	88	75	we	we	PRON
ejge-8767	88	76	used	use	VERB
ejge-8767	88	77	several	several	ADJ
ejge-8767	88	78	metrics	metric	NOUN
ejge-8767	88	79	:	:	PUNCT
ejge-8767	88	80	carhart	carhart	NOUN
ejge-8767	88	81	's	's	PART
ejge-8767	88	82	four	four	NUM
ejge-8767	88	83	-	-	PUNCT
ejge-8767	88	84	factor	factor	NOUN
ejge-8767	88	85	alpha	alpha	NOUN
ejge-8767	88	86	,	,	PUNCT
ejge-8767	88	87	sharpe	sharpe	PROPN
ejge-8767	88	88	ratio	ratio	PROPN
ejge-8767	88	89	,	,	PUNCT
ejge-8767	88	90	sortino	sortino	ADJ
ejge-8767	88	91	ratio	ratio	NOUN
ejge-8767	88	92	,	,	PUNCT
ejge-8767	88	93	and	and	CCONJ
ejge-8767	88	94	annual	annual	ADJ
ejge-8767	88	95	return	return	NOUN
ejge-8767	88	96	.	.	PUNCT
ejge-8767	89	1	the	the	DET
ejge-8767	89	2	sharpe	sharpe	PROPN
ejge-8767	89	3	ratio	ratio	NOUN
ejge-8767	89	4	allows	allow	VERB
ejge-8767	89	5	you	you	PRON
ejge-8767	89	6	to	to	PART
ejge-8767	89	7	measure	measure	VERB
ejge-8767	89	8	the	the	DET
ejge-8767	89	9	risk	risk	NOUN
ejge-8767	89	10	-	-	PUNCT
ejge-8767	89	11	adjusted	adjust	VERB
ejge-8767	89	12	return	return	NOUN
ejge-8767	89	13	by	by	ADP
ejge-8767	89	14	dividing	divide	VERB
ejge-8767	89	15	the	the	DET
ejge-8767	89	16	excess	excess	NOUN
ejge-8767	89	17	of	of	ADP
ejge-8767	89	18	a	a	DET
ejge-8767	89	19	fund	fund	NOUN
ejge-8767	89	20	's	's	PART
ejge-8767	89	21	return	return	NOUN
ejge-8767	89	22	over	over	ADP
ejge-8767	89	23	the	the	DET
ejge-8767	89	24	risk	risk	NOUN
ejge-8767	89	25	-	-	PUNCT
ejge-8767	89	26	free	free	ADJ
ejge-8767	89	27	interest	interest	NOUN
ejge-8767	89	28	rate	rate	NOUN
ejge-8767	89	29	by	by	ADP
ejge-8767	89	30	the	the	DET
ejge-8767	89	31	volatility	volatility	NOUN
ejge-8767	89	32	or	or	CCONJ
ejge-8767	89	33	standard	standard	ADJ
ejge-8767	89	34	deviation	deviation	NOUN
ejge-8767	89	35	of	of	ADP
ejge-8767	89	36	that	that	DET
ejge-8767	89	37	return	return	NOUN
ejge-8767	89	38	.	.	PUNCT
ejge-8767	90	1	the	the	DET
ejge-8767	90	2	sortino	sortino	ADJ
ejge-8767	90	3	ratio	ratio	NOUN
ejge-8767	90	4	uses	use	VERB
ejge-8767	90	5	in	in	ADP
ejge-8767	90	6	the	the	DET
ejge-8767	90	7	numerator	numerator	NOUN
ejge-8767	90	8	the	the	DET
ejge-8767	90	9	standard	standard	ADJ
ejge-8767	90	10	deviation	deviation	NOUN
ejge-8767	90	11	generated	generate	VERB
ejge-8767	90	12	by	by	ADP
ejge-8767	90	13	the	the	DET
ejge-8767	90	14	negative	negative	ADJ
ejge-8767	90	15	returns	return	NOUN
ejge-8767	90	16	of	of	ADP
ejge-8767	90	17	the	the	DET
ejge-8767	90	18	portfolio	portfolio	NOUN
ejge-8767	90	19	.	.	PUNCT
ejge-8767	91	1	carhart	carhart	NOUN
ejge-8767	91	2	's	's	PART
ejge-8767	91	3	four	four	NUM
ejge-8767	91	4	-	-	PUNCT
ejge-8767	91	5	factor	factor	NOUN
ejge-8767	91	6	alpha	alpha	NOUN
ejge-8767	91	7	allows	allow	VERB
ejge-8767	91	8	you	you	PRON
ejge-8767	91	9	to	to	PART
ejge-8767	91	10	adjust	adjust	VERB
ejge-8767	91	11	for	for	ADP
ejge-8767	91	12	other	other	ADJ
ejge-8767	91	13	factors	factor	NOUN
ejge-8767	91	14	that	that	PRON
ejge-8767	91	15	skew	skew	VERB
ejge-8767	91	16	the	the	DET
ejge-8767	91	17	fund	fund	NOUN
ejge-8767	91	18	's	's	PART
ejge-8767	91	19	performance	performance	NOUN
ejge-8767	91	20	analyses	analysis	NOUN
ejge-8767	91	21	(	(	PUNCT
ejge-8767	91	22	market	market	NOUN
ejge-8767	91	23	,	,	PUNCT
ejge-8767	91	24	value	value	NOUN
ejge-8767	91	25	,	,	PUNCT
ejge-8767	91	26	size	size	NOUN
ejge-8767	91	27	,	,	PUNCT
ejge-8767	91	28	and	and	CCONJ
ejge-8767	91	29	momentum	momentum	NOUN
ejge-8767	91	30	)	)	PUNCT
ejge-8767	91	31	.	.	PUNCT
ejge-8767	92	1	net	net	ADJ
ejge-8767	92	2	returns	return	NOUN
ejge-8767	92	3	allows	allow	VERB
ejge-8767	92	4	you	you	PRON
ejge-8767	92	5	to	to	PART
ejge-8767	92	6	analyse	analyse	VERB
ejge-8767	92	7	the	the	DET
ejge-8767	92	8	funds	fund	NOUN
ejge-8767	92	9	from	from	ADP
ejge-8767	92	10	the	the	DET
ejge-8767	92	11	view	view	NOUN
ejge-8767	92	12	of	of	ADP
ejge-8767	92	13	the	the	DET
ejge-8767	92	14	retail	retail	ADJ
ejge-8767	92	15	investor	investor	NOUN
ejge-8767	92	16	,	,	PUNCT
ejge-8767	92	17	who	who	PRON
ejge-8767	92	18	does	do	AUX
ejge-8767	92	19	not	not	PART
ejge-8767	92	20	use	use	VERB
ejge-8767	92	21	risk	risk	NOUN
ejge-8767	92	22	-	-	PUNCT
ejge-8767	92	23	adjusted	adjust	VERB
ejge-8767	92	24	metrics	metric	NOUN
ejge-8767	92	25	.	.	PUNCT
ejge-8767	93	1	the	the	DET
ejge-8767	93	2	four	four	NUM
ejge-8767	93	3	-	-	PUNCT
ejge-8767	93	4	factor	factor	NOUN
ejge-8767	93	5	model	model	NOUN
ejge-8767	93	6	based	base	VERB
ejge-8767	93	7	on	on	ADP
ejge-8767	93	8	carhart	carhart	NOUN
ejge-8767	93	9	(	(	PUNCT
ejge-8767	93	10	1997	1997	NUM
ejge-8767	93	11	)	)	PUNCT
ejge-8767	93	12	that	that	PRON
ejge-8767	93	13	includes	include	VERB
ejge-8767	93	14	market	market	NOUN
ejge-8767	93	15	return	return	NOUN
ejge-8767	93	16	(	(	PUNCT
ejge-8767	93	17	mkt	mkt	PROPN
ejge-8767	93	18	)	)	PUNCT
ejge-8767	93	19	,	,	PUNCT
ejge-8767	93	20	size	size	NOUN
ejge-8767	93	21	(	(	PUNCT
ejge-8767	93	22	smb	smb	PROPN
ejge-8767	93	23	)	)	PUNCT
ejge-8767	93	24	,	,	PUNCT
ejge-8767	93	25	book	book	NOUN
ejge-8767	93	26	-	-	PUNCT
ejge-8767	93	27	to	to	ADP
ejge-8767	93	28	-	-	PUNCT
ejge-8767	93	29	market	market	NOUN
ejge-8767	93	30	(	(	PUNCT
ejge-8767	93	31	hml	hml	PROPN
ejge-8767	93	32	)	)	PUNCT
ejge-8767	93	33	and	and	CCONJ
ejge-8767	93	34	momentum	momentum	NOUN
ejge-8767	93	35	(	(	PUNCT
ejge-8767	93	36	mom	mom	NOUN
ejge-8767	93	37	)	)	PUNCT
ejge-8767	93	38	permits	permit	VERB
ejge-8767	93	39	to	to	PART
ejge-8767	93	40	control	control	VERB
ejge-8767	93	41	the	the	DET
ejge-8767	93	42	effect	effect	NOUN
ejge-8767	93	43	of	of	ADP
ejge-8767	93	44	different	different	ADJ
ejge-8767	93	45	styles	style	NOUN
ejge-8767	93	46	of	of	ADP
ejge-8767	93	47	investment	investment	NOUN
ejge-8767	93	48	in	in	ADP
ejge-8767	93	49	fund	fund	NOUN
ejge-8767	93	50	performance	performance	NOUN
ejge-8767	93	51	.	.	PUNCT
ejge-8767	94	1	in	in	ADP
ejge-8767	94	2	this	this	DET
ejge-8767	94	3	way	way	NOUN
ejge-8767	94	4	,	,	PUNCT
ejge-8767	94	5	the	the	DET
ejge-8767	94	6	excess	excess	ADJ
ejge-8767	94	7	return	return	NOUN
ejge-8767	94	8	of	of	ADP
ejge-8767	94	9	the	the	DET
ejge-8767	94	10	fund	fund	NOUN
ejge-8767	94	11	over	over	ADP
ejge-8767	94	12	the	the	DET
ejge-8767	94	13	risk	risk	NOUN
ejge-8767	94	14	-	-	PUNCT
ejge-8767	94	15	free	free	ADJ
ejge-8767	94	16	interest	interest	NOUN
ejge-8767	94	17	rate	rate	NOUN
ejge-8767	94	18	is	be	AUX
ejge-8767	94	19	given	give	VERB
ejge-8767	94	20	by	by	ADP
ejge-8767	94	21	:	:	PUNCT
ejge-8767	94	22	𝑅𝑅𝑖𝑖,𝑡𝑡−𝑅𝑅𝑓𝑓,𝑡𝑡	𝑅𝑅𝑖𝑖,𝑡𝑡−𝑅𝑅𝑓𝑓,𝑡𝑡	PROPN
ejge-8767	94	23	=	=	SYM
ejge-8767	94	24	𝛼𝛼𝑖𝑖,𝑡𝑡	𝛼𝛼𝑖𝑖,𝑡𝑡	PROPN
ejge-8767	94	25	+	+	CCONJ
ejge-8767	94	26	𝛽𝛽𝑖𝑖,1𝑀𝑀𝑀𝑀𝑀𝑀𝑡𝑡	𝛽𝛽𝑖𝑖,1𝑀𝑀𝑀𝑀𝑀𝑀𝑡𝑡	ADV
ejge-8767	94	27	+	+	CCONJ
ejge-8767	94	28	𝛽𝛽𝑖𝑖,2𝑆𝑆𝑀𝑀𝑆𝑆𝑡𝑡	𝛽𝛽𝑖𝑖,2𝑆𝑆𝑀𝑀𝑆𝑆𝑡𝑡	PROPN
ejge-8767	94	29	+	+	CCONJ
ejge-8767	94	30	𝛽𝛽𝑖𝑖,3𝐻𝐻𝑀𝑀𝐻𝐻𝑡𝑡	𝛽𝛽𝑖𝑖,3𝐻𝐻𝑀𝑀𝐻𝐻𝑡𝑡	ADV
ejge-8767	94	31	+	+	CCONJ
ejge-8767	94	32	𝛽𝛽𝑖𝑖,4𝑀𝑀𝑀𝑀𝑀𝑀𝑡𝑡	𝛽𝛽𝑖𝑖,4𝑀𝑀𝑀𝑀𝑀𝑀𝑡𝑡	NOUN
ejge-8767	94	33	+	+	CCONJ
ejge-8767	94	34	𝜀𝜀𝑖𝑖,𝑡𝑡	𝜀𝜀𝑖𝑖,𝑡𝑡	X
ejge-8767	95	1	[	[	X
ejge-8767	95	2	1	1	NUM
ejge-8767	95	3	]	]	PUNCT
ejge-8767	95	4	where	where	SCONJ
ejge-8767	95	5	:	:	PUNCT
ejge-8767	95	6	ri	ri	PROPN
ejge-8767	95	7	,	,	PUNCT
ejge-8767	95	8	t	t	PROPN
ejge-8767	95	9	is	be	AUX
ejge-8767	95	10	the	the	DET
ejge-8767	95	11	return	return	NOUN
ejge-8767	95	12	of	of	ADP
ejge-8767	95	13	fund	fund	NOUN
ejge-8767	95	14	i	i	PRON
ejge-8767	95	15	at	at	ADP
ejge-8767	95	16	the	the	DET
ejge-8767	95	17	moment	moment	NOUN
ejge-8767	95	18	t	t	NOUN
ejge-8767	95	19	;	;	PUNCT
ejge-8767	95	20	rf	rf	VERB
ejge-8767	95	21	,	,	PUNCT
ejge-8767	95	22	t	t	PROPN
ejge-8767	95	23	is	be	AUX
ejge-8767	95	24	the	the	DET
ejge-8767	95	25	return	return	NOUN
ejge-8767	95	26	on	on	ADP
ejge-8767	95	27	a	a	DET
ejge-8767	95	28	risk	risk	NOUN
ejge-8767	95	29	-	-	PUNCT
ejge-8767	95	30	free	free	ADJ
ejge-8767	95	31	asset	asset	NOUN
ejge-8767	95	32	at	at	ADP
ejge-8767	95	33	time	time	NOUN
ejge-8767	95	34	t	t	PROPN
ejge-8767	95	35	;	;	PUNCT
ejge-8767	95	36	mktt	mktt	NOUN
ejge-8767	95	37	;	;	PUNCT
ejge-8767	95	38	is	be	AUX
ejge-8767	95	39	the	the	DET
ejge-8767	95	40	monthly	monthly	ADJ
ejge-8767	95	41	return	return	NOUN
ejge-8767	95	42	of	of	ADP
ejge-8767	95	43	the	the	DET
ejge-8767	95	44	market	market	NOUN
ejge-8767	95	45	portfolio	portfolio	NOUN
ejge-8767	95	46	minus	minus	ADP
ejge-8767	95	47	the	the	DET
ejge-8767	95	48	risk	risk	NOUN
ejge-8767	95	49	-	-	PUNCT
ejge-8767	95	50	free	free	ADJ
ejge-8767	95	51	rate	rate	NOUN
ejge-8767	95	52	smbt	smbt	NOUN
ejge-8767	95	53	captures	capture	VERB
ejge-8767	95	54	exposure	exposure	NOUN
ejge-8767	95	55	to	to	ADP
ejge-8767	95	56	the	the	DET
ejge-8767	95	57	returns	return	NOUN
ejge-8767	95	58	of	of	ADP
ejge-8767	95	59	diversified	diversified	ADJ
ejge-8767	95	60	portfolios	portfolio	NOUN
ejge-8767	95	61	of	of	ADP
ejge-8767	95	62	smalland	smalland	NOUN
ejge-8767	95	63	largecap	largecap	NOUN
ejge-8767	95	64	stocks	stock	NOUN
ejge-8767	95	65	;	;	PUNCT
ejge-8767	95	66	hmlt	hmlt	PROPN
ejge-8767	95	67	captures	capture	VERB
ejge-8767	95	68	exposure	exposure	NOUN
ejge-8767	95	69	to	to	ADP
ejge-8767	95	70	returns	return	NOUN
ejge-8767	95	71	between	between	ADP
ejge-8767	95	72	high	high	ADJ
ejge-8767	95	73	and	and	CCONJ
ejge-8767	95	74	low	low	ADJ
ejge-8767	95	75	book	book	NOUN
ejge-8767	95	76	-	-	PUNCT
ejge-8767	95	77	to	to	ADP
ejge-8767	95	78	-	-	PUNCT
ejge-8767	95	79	market	market	NOUN
ejge-8767	95	80	portfolios	portfolio	NOUN
ejge-8767	95	81	;	;	PUNCT
ejge-8767	95	82	momt	momt	NOUN
ejge-8767	95	83	is	be	AUX
ejge-8767	95	84	the	the	DET
ejge-8767	95	85	momentum	momentum	NOUN
ejge-8767	95	86	;	;	PUNCT
ejge-8767	95	87	εi	εi	VERB
ejge-8767	95	88	,	,	PUNCT
ejge-8767	95	89	t	t	PROPN
ejge-8767	95	90	is	be	AUX
ejge-8767	95	91	the	the	DET
ejge-8767	95	92	stochastic	stochastic	ADJ
ejge-8767	95	93	error	error	NOUN
ejge-8767	95	94	term	term	NOUN
ejge-8767	95	95	.	.	PUNCT
ejge-8767	96	1	the	the	DET
ejge-8767	96	2	β	β	PROPN
ejge-8767	96	3	parameters	parameter	NOUN
ejge-8767	96	4	in	in	ADP
ejge-8767	96	5	equation	equation	NOUN
ejge-8767	96	6	(	(	PUNCT
ejge-8767	96	7	1	1	X
ejge-8767	96	8	)	)	PUNCT
ejge-8767	96	9	measure	measure	NOUN
ejge-8767	96	10	the	the	DET
ejge-8767	96	11	sensitivity	sensitivity	NOUN
ejge-8767	96	12	of	of	ADP
ejge-8767	96	13	the	the	DET
ejge-8767	96	14	excess	excess	ADJ
ejge-8767	96	15	return	return	NOUN
ejge-8767	96	16	of	of	ADP
ejge-8767	96	17	fund	fund	NOUN
ejge-8767	96	18	i	i	PRON
ejge-8767	96	19	to	to	ADP
ejge-8767	96	20	each	each	DET
ejge-8767	96	21	risk	risk	NOUN
ejge-8767	96	22	factor	factor	NOUN
ejge-8767	96	23	,	,	PUNCT
ejge-8767	96	24	where	where	SCONJ
ejge-8767	96	25	α	α	PROPN
ejge-8767	96	26	is	be	AUX
ejge-8767	96	27	the	the	DET
ejge-8767	96	28	excess	excess	ADJ
ejge-8767	96	29	return	return	NOUN
ejge-8767	96	30	of	of	ADP
ejge-8767	96	31	the	the	DET
ejge-8767	96	32	fund	fund	NOUN
ejge-8767	96	33	.	.	PUNCT
ejge-8767	97	1	the	the	DET
ejge-8767	97	2	sharpe	sharpe	PROPN
ejge-8767	97	3	ratio	ratio	PROPN
ejge-8767	97	4	metric	metric	NOUN
ejge-8767	97	5	that	that	PRON
ejge-8767	97	6	is	be	AUX
ejge-8767	97	7	given	give	VERB
ejge-8767	97	8	by	by	ADP
ejge-8767	97	9	:	:	PUNCT
ejge-8767	97	10	𝑆𝑆ℎ𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑖𝑖,𝑡𝑡	𝑆𝑆ℎ𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑖𝑖,𝑡𝑡	NOUN
ejge-8767	97	11	=	=	SYM
ejge-8767	97	12	(	(	PUNCT
ejge-8767	97	13	𝑅𝑅𝑖𝑖,𝑡𝑡−𝑅𝑅𝑓𝑓,𝑡𝑡	𝑅𝑅𝑖𝑖,𝑡𝑡−𝑅𝑅𝑓𝑓,𝑡𝑡	PROPN
ejge-8767	97	14	)	)	PUNCT
ejge-8767	97	15	𝜎𝜎𝑖𝑖,𝑡𝑡	𝜎𝜎𝑖𝑖,𝑡𝑡	PUNCT
ejge-8767	98	1	[	[	X
ejge-8767	98	2	2	2	X
ejge-8767	98	3	]	]	PUNCT
ejge-8767	98	4	where	where	SCONJ
ejge-8767	98	5	:	:	PUNCT
ejge-8767	98	6	𝑅𝑅𝑖𝑖,𝑡𝑡	𝑅𝑅𝑖𝑖,𝑡𝑡	NOUN
ejge-8767	98	7	represents	represent	VERB
ejge-8767	98	8	the	the	DET
ejge-8767	98	9	profitability	profitability	NOUN
ejge-8767	98	10	of	of	ADP
ejge-8767	98	11	fund	fund	NOUN
ejge-8767	98	12	i	i	PRON
ejge-8767	98	13	at	at	ADP
ejge-8767	98	14	time	time	NOUN
ejge-8767	98	15	t	t	PROPN
ejge-8767	98	16	,	,	PUNCT
ejge-8767	98	17	𝑅𝑅𝑓𝑓,𝑡𝑡	𝑅𝑅𝑓𝑓,𝑡𝑡	PROPN
ejge-8767	98	18	represents	represent	VERB
ejge-8767	98	19	the	the	DET
ejge-8767	98	20	risk	risk	NOUN
ejge-8767	98	21	-	-	PUNCT
ejge-8767	98	22	free	free	ADJ
ejge-8767	98	23	rate	rate	NOUN
ejge-8767	98	24	(	(	PUNCT
ejge-8767	98	25	1	1	NUM
ejge-8767	98	26	-	-	PUNCT
ejge-8767	98	27	month	month	NOUN
ejge-8767	98	28	euribor	euribor	NOUN
ejge-8767	98	29	)	)	PUNCT
ejge-8767	98	30	at	at	ADP
ejge-8767	98	31	time	time	NOUN
ejge-8767	98	32	t	t	PROPN
ejge-8767	98	33	,	,	PUNCT
ejge-8767	98	34	𝜎𝜎𝑖𝑖,𝑡𝑡	𝜎𝜎𝑖𝑖,𝑡𝑡	PROPN
ejge-8767	98	35	is	be	AUX
ejge-8767	98	36	the	the	DET
ejge-8767	98	37	standard	standard	ADJ
ejge-8767	98	38	deviation	deviation	NOUN
ejge-8767	98	39	of	of	ADP
ejge-8767	98	40	background	background	NOUN
ejge-8767	99	1	i	i	PRON
ejge-8767	99	2	at	at	ADP
ejge-8767	99	3	time	time	NOUN
ejge-8767	99	4	t	t	PROPN
ejge-8767	99	5	,	,	PUNCT
ejge-8767	99	6	the	the	DET
ejge-8767	99	7	sortino	sortino	ADJ
ejge-8767	99	8	ratio	ratio	NOUN
ejge-8767	99	9	is	be	AUX
ejge-8767	99	10	a	a	DET
ejge-8767	99	11	variant	variant	NOUN
ejge-8767	99	12	of	of	ADP
ejge-8767	99	13	the	the	DET
ejge-8767	99	14	sharpe	sharpe	NOUN
ejge-8767	99	15	ratio	ratio	NOUN
ejge-8767	99	16	that	that	PRON
ejge-8767	99	17	only	only	ADV
ejge-8767	99	18	considers	consider	VERB
ejge-8767	99	19	the	the	DET
ejge-8767	99	20	deviation	deviation	NOUN
ejge-8767	99	21	of	of	ADP
ejge-8767	99	22	declines	decline	NOUN
ejge-8767	99	23	(	(	PUNCT
ejge-8767	99	24	negative	negative	ADJ
ejge-8767	99	25	returns	return	NOUN
ejge-8767	99	26	)	)	PUNCT
ejge-8767	99	27	or	or	CCONJ
ejge-8767	99	28	downside	downside	ADJ
ejge-8767	99	29	deviation	deviation	NOUN
ejge-8767	99	30	in	in	ADP
ejge-8767	99	31	the	the	DET
ejge-8767	99	32	denominator	denominator	NOUN
ejge-8767	99	33	.	.	PUNCT
ejge-8767	100	1	𝑆𝑆𝑀𝑀𝑎𝑎𝑀𝑀𝑆𝑆𝑆𝑆𝑀𝑀𝑖𝑖,𝑡𝑡	𝑆𝑆𝑀𝑀𝑎𝑎𝑀𝑀𝑆𝑆𝑆𝑆𝑀𝑀𝑖𝑖,𝑡𝑡	PROPN
ejge-8767	100	2	=	=	PUNCT
ejge-8767	100	3	(	(	PUNCT
ejge-8767	100	4	𝑅𝑅𝑖𝑖,𝑡𝑡−𝑅𝑅𝑓𝑓,𝑡𝑡	𝑅𝑅𝑖𝑖,𝑡𝑡−𝑅𝑅𝑓𝑓,𝑡𝑡	PROPN
ejge-8767	100	5	)	)	PUNCT
ejge-8767	100	6	𝑑𝑑𝑑𝑑𝑑𝑑𝑑𝑑𝑑𝑑𝑖𝑖𝑑𝑑𝑑𝑑𝜎𝜎𝑖𝑖,𝑡𝑡	𝑑𝑑𝑑𝑑𝑑𝑑𝑑𝑑𝑑𝑑𝑖𝑖𝑑𝑑𝑑𝑑𝜎𝜎𝑖𝑖,𝑡𝑡	PUNCT
ejge-8767	101	1	[	[	X
ejge-8767	101	2	3	3	NUM
ejge-8767	101	3	]	]	X
ejge-8767	101	4	renato	renato	PROPN
ejge-8767	101	5	correia	correia	PROPN
ejge-8767	101	6	-	-	PUNCT
ejge-8767	101	7	domingues	domingue	NOUN
ejge-8767	101	8	et	et	PROPN
ejge-8767	101	9	al	al	PROPN
ejge-8767	101	10	.	.	PUNCT
ejge-8767	101	11	/	/	SYM
ejge-8767	101	12	european	european	PROPN
ejge-8767	101	13	journal	journal	PROPN
ejge-8767	101	14	of	of	ADP
ejge-8767	101	15	government	government	NOUN
ejge-8767	101	16	and	and	CCONJ
ejge-8767	101	17	economics	economic	NOUN
ejge-8767	101	18	11(1	11(1	NUM
ejge-8767	101	19	)	)	PUNCT
ejge-8767	101	20	,	,	PUNCT
ejge-8767	101	21	june	june	PROPN
ejge-8767	101	22	2022	2022	NUM
ejge-8767	101	23	,	,	PUNCT
ejge-8767	101	24	31	31	NUM
ejge-8767	101	25	-	-	SYM
ejge-8767	101	26	50	50	NUM
ejge-8767	101	27	37	37	NUM
ejge-8767	101	28	where	where	SCONJ
ejge-8767	101	29	𝑑𝑑𝑀𝑀𝑑𝑑𝑆𝑆𝑑𝑑𝑆𝑆𝑑𝑑𝑎𝑎𝜎𝜎𝑖𝑖	𝑑𝑑𝑀𝑀𝑑𝑑𝑆𝑆𝑑𝑑𝑆𝑆𝑑𝑑𝑎𝑎𝜎𝜎𝑖𝑖	ADJ
ejge-8767	101	30	,	,	PUNCT
ejge-8767	101	31	𝑡𝑡	𝑡𝑡	PROPN
ejge-8767	101	32	is	be	AUX
ejge-8767	101	33	the	the	DET
ejge-8767	101	34	downside	downside	ADJ
ejge-8767	101	35	deviation	deviation	NOUN
ejge-8767	101	36	finally	finally	ADV
ejge-8767	101	37	,	,	PUNCT
ejge-8767	101	38	within	within	ADP
ejge-8767	101	39	the	the	DET
ejge-8767	101	40	variables	variable	NOUN
ejge-8767	101	41	explained	explain	VERB
ejge-8767	101	42	,	,	PUNCT
ejge-8767	101	43	we	we	PRON
ejge-8767	101	44	use	use	VERB
ejge-8767	101	45	a	a	DET
ejge-8767	101	46	performance	performance	NOUN
ejge-8767	101	47	metric	metric	ADJ
ejge-8767	101	48	without	without	ADP
ejge-8767	101	49	adjusting	adjust	VERB
ejge-8767	101	50	for	for	ADP
ejge-8767	101	51	risk	risk	NOUN
ejge-8767	101	52	,	,	PUNCT
ejge-8767	101	53	the	the	DET
ejge-8767	101	54	annual	annual	ADJ
ejge-8767	101	55	net	net	ADJ
ejge-8767	101	56	return	return	NOUN
ejge-8767	101	57	(	(	PUNCT
ejge-8767	101	58	annual	annual	ADJ
ejge-8767	101	59	return	return	NOUN
ejge-8767	101	60	)	)	PUNCT
ejge-8767	101	61	.	.	PUNCT
ejge-8767	102	1	the	the	DET
ejge-8767	102	2	other	other	ADJ
ejge-8767	102	3	variables	variable	NOUN
ejge-8767	102	4	that	that	SCONJ
ejge-8767	102	5	we	we	PRON
ejge-8767	102	6	will	will	AUX
ejge-8767	102	7	use	use	VERB
ejge-8767	102	8	later	later	ADV
ejge-8767	102	9	as	as	SCONJ
ejge-8767	102	10	explanatory	explanatory	ADJ
ejge-8767	102	11	ones	one	NOUN
ejge-8767	102	12	are	be	AUX
ejge-8767	102	13	the	the	DET
ejge-8767	102	14	fund	fund	NOUN
ejge-8767	102	15	's	's	PART
ejge-8767	102	16	expense	expense	NOUN
ejge-8767	102	17	ratio	ratio	NOUN
ejge-8767	102	18	(	(	PUNCT
ejge-8767	102	19	net	net	ADJ
ejge-8767	102	20	expenses	expense	NOUN
ejge-8767	102	21	)	)	PUNCT
ejge-8767	102	22	and	and	CCONJ
ejge-8767	102	23	the	the	DET
ejge-8767	102	24	global	global	ADJ
ejge-8767	102	25	star	star	NOUN
ejge-8767	102	26	rating	rating	NOUN
ejge-8767	102	27	of	of	ADP
ejge-8767	102	28	the	the	DET
ejge-8767	102	29	fund	fund	NOUN
ejge-8767	102	30	awarded	award	VERB
ejge-8767	102	31	by	by	ADP
ejge-8767	102	32	mornigstar	mornigstar	NOUN
ejge-8767	102	33	.	.	PUNCT
ejge-8767	103	1	the	the	DET
ejge-8767	103	2	expense	expense	NOUN
ejge-8767	103	3	ratio	ratio	NOUN
ejge-8767	103	4	of	of	ADP
ejge-8767	103	5	an	an	DET
ejge-8767	103	6	investment	investment	NOUN
ejge-8767	103	7	fund	fund	NOUN
ejge-8767	103	8	has	have	AUX
ejge-8767	103	9	been	be	AUX
ejge-8767	103	10	calculated	calculate	VERB
ejge-8767	103	11	with	with	ADP
ejge-8767	103	12	the	the	DET
ejge-8767	103	13	difference	difference	NOUN
ejge-8767	103	14	between	between	ADP
ejge-8767	103	15	the	the	DET
ejge-8767	103	16	fund	fund	NOUN
ejge-8767	103	17	's	's	PART
ejge-8767	103	18	gross	gross	ADJ
ejge-8767	103	19	and	and	CCONJ
ejge-8767	103	20	net	net	ADJ
ejge-8767	103	21	return	return	NOUN
ejge-8767	103	22	.	.	PUNCT
ejge-8767	104	1	morningstar	morningstar	PROPN
ejge-8767	104	2	's	's	PART
ejge-8767	104	3	rating	rating	NOUN
ejge-8767	104	4	is	be	AUX
ejge-8767	104	5	based	base	VERB
ejge-8767	104	6	on	on	ADP
ejge-8767	104	7	the	the	DET
ejge-8767	104	8	fund	fund	NOUN
ejge-8767	104	9	's	's	PART
ejge-8767	104	10	position	position	NOUN
ejge-8767	104	11	within	within	ADP
ejge-8767	104	12	its	its	PRON
ejge-8767	104	13	category	category	NOUN
ejge-8767	104	14	based	base	VERB
ejge-8767	104	15	on	on	ADP
ejge-8767	104	16	a	a	DET
ejge-8767	104	17	risk	risk	NOUN
ejge-8767	104	18	-	-	PUNCT
ejge-8767	104	19	adjusted	adjust	VERB
ejge-8767	104	20	performance	performance	NOUN
ejge-8767	104	21	measure	measure	NOUN
ejge-8767	104	22	(	(	PUNCT
ejge-8767	104	23	the	the	DET
ejge-8767	104	24	so	so	ADV
ejge-8767	104	25	-	-	PUNCT
ejge-8767	104	26	called	call	VERB
ejge-8767	104	27	morningstar	morningstar	NOUN
ejge-8767	104	28	risk	risk	NOUN
ejge-8767	104	29	-	-	PUNCT
ejge-8767	104	30	adjusted	adjust	VERB
ejge-8767	104	31	return	return	NOUN
ejge-8767	104	32	,	,	PUNCT
ejge-8767	104	33	mrar	mrar	NOUN
ejge-8767	104	34	)	)	PUNCT
ejge-8767	104	35	.	.	PUNCT
ejge-8767	105	1	the	the	DET
ejge-8767	105	2	top	top	ADJ
ejge-8767	105	3	10	10	NUM
ejge-8767	105	4	%	%	NOUN
ejge-8767	105	5	of	of	ADP
ejge-8767	105	6	funds	fund	NOUN
ejge-8767	105	7	receive	receive	VERB
ejge-8767	105	8	5	5	NUM
ejge-8767	105	9	stars	star	NOUN
ejge-8767	105	10	,	,	PUNCT
ejge-8767	105	11	the	the	DET
ejge-8767	105	12	next	next	ADJ
ejge-8767	105	13	22.5	22.5	NUM
ejge-8767	105	14	%	%	NOUN
ejge-8767	105	15	receive	receive	VERB
ejge-8767	105	16	4	4	NUM
ejge-8767	105	17	stars	star	NOUN
ejge-8767	105	18	,	,	PUNCT
ejge-8767	105	19	the	the	DET
ejge-8767	105	20	next	next	ADJ
ejge-8767	105	21	35	35	NUM
ejge-8767	105	22	%	%	NOUN
ejge-8767	105	23	3	3	NUM
ejge-8767	105	24	stars	star	NOUN
ejge-8767	105	25	,	,	PUNCT
ejge-8767	105	26	then	then	ADV
ejge-8767	105	27	22.5	22.5	NUM
ejge-8767	105	28	%	%	NOUN
ejge-8767	105	29	2	2	NUM
ejge-8767	105	30	stars	star	NOUN
ejge-8767	105	31	,	,	PUNCT
ejge-8767	105	32	and	and	CCONJ
ejge-8767	105	33	the	the	DET
ejge-8767	105	34	10	10	NUM
ejge-8767	105	35	%	%	NOUN
ejge-8767	105	36	worst	bad	ADJ
ejge-8767	105	37	funds	fund	NOUN
ejge-8767	105	38	1	1	NUM
ejge-8767	105	39	star	star	NOUN
ejge-8767	105	40	.	.	PUNCT
ejge-8767	106	1	morningstar	morningstar	PROPN
ejge-8767	106	2	establishes	establish	VERB
ejge-8767	106	3	its	its	PRON
ejge-8767	106	4	3	3	NUM
ejge-8767	106	5	,	,	PUNCT
ejge-8767	106	6	5	5	NUM
ejge-8767	106	7	and	and	CCONJ
ejge-8767	106	8	10	10	NUM
ejge-8767	106	9	year	year	NOUN
ejge-8767	106	10	ratings	rating	NOUN
ejge-8767	106	11	for	for	ADP
ejge-8767	106	12	each	each	DET
ejge-8767	106	13	fund	fund	NOUN
ejge-8767	106	14	,	,	PUNCT
ejge-8767	106	15	with	with	ADP
ejge-8767	106	16	the	the	DET
ejge-8767	106	17	overall	overall	ADJ
ejge-8767	106	18	rating	rating	NOUN
ejge-8767	106	19	being	be	AUX
ejge-8767	106	20	a	a	DET
ejge-8767	106	21	weighted	weighted	ADJ
ejge-8767	106	22	average	average	NOUN
ejge-8767	106	23	of	of	ADP
ejge-8767	106	24	the	the	DET
ejge-8767	106	25	above	above	ADJ
ejge-8767	106	26	.	.	PUNCT
ejge-8767	107	1	finally	finally	ADV
ejge-8767	107	2	,	,	PUNCT
ejge-8767	107	3	as	as	ADP
ejge-8767	107	4	control	control	NOUN
ejge-8767	107	5	variables	variable	NOUN
ejge-8767	107	6	,	,	PUNCT
ejge-8767	107	7	we	we	PRON
ejge-8767	107	8	used	use	VERB
ejge-8767	107	9	the	the	DET
ejge-8767	107	10	dummy	dummy	ADJ
ejge-8767	107	11	variable	variable	NOUN
ejge-8767	107	12	to	to	ADP
ejge-8767	107	13	age	age	NOUN
ejge-8767	107	14	(	(	PUNCT
ejge-8767	107	15	yield	yield	NOUN
ejge-8767	107	16	per	per	ADP
ejge-8767	107	17	year	year	NOUN
ejge-8767	107	18	)	)	PUNCT
ejge-8767	107	19	,	,	PUNCT
ejge-8767	107	20	dummies	dummy	NOUN
ejge-8767	107	21	of	of	ADP
ejge-8767	107	22	the	the	DET
ejge-8767	107	23	morningstar	morningstar	PROPN
ejge-8767	107	24	fund	fund	PROPN
ejge-8767	107	25	categories	category	NOUN
ejge-8767	107	26	,	,	PUNCT
ejge-8767	107	27	the	the	DET
ejge-8767	107	28	years	year	NOUN
ejge-8767	107	29	of	of	ADP
ejge-8767	107	30	experience	experience	NOUN
ejge-8767	107	31	of	of	ADP
ejge-8767	107	32	the	the	DET
ejge-8767	107	33	fund	fund	NOUN
ejge-8767	107	34	managers	manager	NOUN
ejge-8767	107	35	and	and	CCONJ
ejge-8767	107	36	size	size	NOUN
ejge-8767	107	37	.	.	PUNCT
ejge-8767	108	1	the	the	DET
ejge-8767	108	2	source	source	NOUN
ejge-8767	108	3	of	of	ADP
ejge-8767	108	4	the	the	DET
ejge-8767	108	5	data	data	NOUN
ejge-8767	108	6	is	be	AUX
ejge-8767	108	7	morningstar	morningstar	NOUN
ejge-8767	108	8	direct	direct	ADJ
ejge-8767	108	9	for	for	ADP
ejge-8767	108	10	all	all	DET
ejge-8767	108	11	variables	variable	NOUN
ejge-8767	108	12	,	,	PUNCT
ejge-8767	108	13	except	except	SCONJ
ejge-8767	108	14	for	for	ADP
ejge-8767	108	15	carhart	carhart	NOUN
ejge-8767	108	16	's	's	PART
ejge-8767	108	17	alpha	alpha	NOUN
ejge-8767	108	18	,	,	PUNCT
ejge-8767	108	19	which	which	PRON
ejge-8767	108	20	are	be	AUX
ejge-8767	108	21	based	base	VERB
ejge-8767	108	22	on	on	ADP
ejge-8767	108	23	own	own	ADJ
ejge-8767	108	24	calculations	calculation	NOUN
ejge-8767	108	25	from	from	ADP
ejge-8767	108	26	the	the	DET
ejge-8767	108	27	website	website	NOUN
ejge-8767	108	28	of	of	ADP
ejge-8767	108	29	professor	professor	PROPN
ejge-8767	108	30	kenneth	kenneth	PROPN
ejge-8767	108	31	r.	r.	PROPN
ejge-8767	108	32	french2	french2	PROPN
ejge-8767	108	33	.	.	PUNCT
ejge-8767	109	1	to	to	PART
ejge-8767	109	2	assess	assess	VERB
ejge-8767	109	3	the	the	DET
ejge-8767	109	4	independence	independence	NOUN
ejge-8767	109	5	degree	degree	NOUN
ejge-8767	109	6	between	between	ADP
ejge-8767	109	7	the	the	DET
ejge-8767	109	8	indicators	indicator	NOUN
ejge-8767	109	9	and	and	CCONJ
ejge-8767	109	10	the	the	DET
ejge-8767	109	11	other	other	ADJ
ejge-8767	109	12	variables	variable	NOUN
ejge-8767	109	13	,	,	PUNCT
ejge-8767	109	14	an	an	DET
ejge-8767	109	15	analysis	analysis	NOUN
ejge-8767	109	16	of	of	ADP
ejge-8767	109	17	the	the	DET
ejge-8767	109	18	correlations	correlation	NOUN
ejge-8767	109	19	between	between	ADP
ejge-8767	109	20	variables	variable	NOUN
ejge-8767	109	21	and	and	CCONJ
ejge-8767	109	22	the	the	DET
ejge-8767	109	23	calculation	calculation	NOUN
ejge-8767	109	24	of	of	ADP
ejge-8767	109	25	the	the	DET
ejge-8767	109	26	vif	vif	NOUN
ejge-8767	109	27	(	(	PUNCT
ejge-8767	109	28	variance	variance	NOUN
ejge-8767	109	29	inflation	inflation	NOUN
ejge-8767	109	30	factor	factor	NOUN
ejge-8767	109	31	)	)	PUNCT
ejge-8767	109	32	was	be	AUX
ejge-8767	109	33	performed	perform	VERB
ejge-8767	109	34	,	,	PUNCT
ejge-8767	109	35	ruling	rule	VERB
ejge-8767	109	36	out	out	ADP
ejge-8767	109	37	the	the	DET
ejge-8767	109	38	existence	existence	NOUN
ejge-8767	109	39	of	of	ADP
ejge-8767	109	40	multicollinearity	multicollinearity	NOUN
ejge-8767	109	41	problems	problem	NOUN
ejge-8767	109	42	between	between	ADP
ejge-8767	109	43	the	the	DET
ejge-8767	109	44	variables	variable	NOUN
ejge-8767	109	45	studied	study	VERB
ejge-8767	109	46	.	.	PUNCT
ejge-8767	110	1	4	4	X
ejge-8767	110	2	.	.	X
ejge-8767	110	3	empirical	empirical	ADJ
ejge-8767	110	4	study	study	NOUN
ejge-8767	110	5	4.1	4.1	NUM
ejge-8767	110	6	.	.	PUNCT
ejge-8767	110	7	econometric	econometric	ADJ
ejge-8767	110	8	models	model	NOUN
ejge-8767	110	9	the	the	DET
ejge-8767	110	10	first	first	ADJ
ejge-8767	110	11	model	model	NOUN
ejge-8767	110	12	used	use	VERB
ejge-8767	110	13	was	be	AUX
ejge-8767	110	14	a	a	DET
ejge-8767	110	15	regression	regression	NOUN
ejge-8767	110	16	with	with	ADP
ejge-8767	110	17	panel	panel	NOUN
ejge-8767	110	18	data	datum	NOUN
ejge-8767	110	19	with	with	ADP
ejge-8767	110	20	random	random	ADJ
ejge-8767	110	21	effects	effect	NOUN
ejge-8767	110	22	.	.	PUNCT
ejge-8767	111	1	the	the	DET
ejge-8767	111	2	methodology	methodology	NOUN
ejge-8767	111	3	based	base	VERB
ejge-8767	111	4	on	on	ADP
ejge-8767	111	5	panel	panel	NOUN
ejge-8767	111	6	data	datum	NOUN
ejge-8767	111	7	can	can	AUX
ejge-8767	111	8	control	control	VERB
ejge-8767	111	9	individual	individual	ADJ
ejge-8767	111	10	effects	effect	NOUN
ejge-8767	111	11	with	with	ADP
ejge-8767	111	12	advantages	advantage	NOUN
ejge-8767	111	13	such	such	ADJ
ejge-8767	111	14	as	as	ADP
ejge-8767	111	15	reduction	reduction	NOUN
ejge-8767	111	16	of	of	ADP
ejge-8767	111	17	collinearity	collinearity	NOUN
ejge-8767	111	18	and	and	CCONJ
ejge-8767	111	19	efficiency	efficiency	NOUN
ejge-8767	111	20	,	,	PUNCT
ejge-8767	111	21	among	among	ADP
ejge-8767	111	22	others	other	NOUN
ejge-8767	111	23	(	(	PUNCT
ejge-8767	111	24	baltagi	baltagi	ADJ
ejge-8767	111	25	,	,	PUNCT
ejge-8767	111	26	2010	2010	NUM
ejge-8767	111	27	)	)	PUNCT
ejge-8767	111	28	.	.	PUNCT
ejge-8767	112	1	armstrong	armstrong	PROPN
ejge-8767	112	2	,	,	PUNCT
ejge-8767	112	3	genc	genc	PROPN
ejge-8767	112	4	and	and	CCONJ
ejge-8767	112	5	verbeek	verbeek	NOUN
ejge-8767	112	6	(	(	PUNCT
ejge-8767	112	7	2018	2018	NUM
ejge-8767	112	8	)	)	PUNCT
ejge-8767	112	9	also	also	ADV
ejge-8767	112	10	used	use	VERB
ejge-8767	112	11	the	the	DET
ejge-8767	112	12	panel	panel	NOUN
ejge-8767	112	13	data	datum	NOUN
ejge-8767	112	14	methodology	methodology	NOUN
ejge-8767	112	15	to	to	PART
ejge-8767	112	16	evaluate	evaluate	VERB
ejge-8767	112	17	the	the	DET
ejge-8767	112	18	performance	performance	NOUN
ejge-8767	112	19	of	of	ADP
ejge-8767	112	20	mutual	mutual	ADJ
ejge-8767	112	21	funds	fund	NOUN
ejge-8767	112	22	using	use	VERB
ejge-8767	112	23	ratings	rating	NOUN
ejge-8767	112	24	.	.	PUNCT
ejge-8767	113	1	in	in	ADP
ejge-8767	113	2	this	this	DET
ejge-8767	113	3	sense	sense	NOUN
ejge-8767	113	4	,	,	PUNCT
ejge-8767	113	5	we	we	PRON
ejge-8767	113	6	estimate	estimate	VERB
ejge-8767	113	7	the	the	DET
ejge-8767	113	8	following	follow	VERB
ejge-8767	113	9	equations	equation	NOUN
ejge-8767	113	10	:	:	PUNCT
ejge-8767	113	11	𝑌𝑌𝑖𝑖𝑡𝑡	𝑌𝑌𝑖𝑖𝑡𝑡	PROPN
ejge-8767	113	12	=	=	SYM
ejge-8767	113	13	𝛼𝛼𝑖𝑖	𝛼𝛼𝑖𝑖	ADJ
ejge-8767	113	14	+	+	NUM
ejge-8767	113	15	𝛽𝛽1	𝛽𝛽1	PROPN
ejge-8767	113	16	net	net	ADJ
ejge-8767	113	17	expenses	expense	NOUN
ejge-8767	113	18	+	+	X
ejge-8767	113	19	𝛽𝛽2tenure	𝛽𝛽2tenure	X
ejge-8767	113	20	(	(	PUNCT
ejge-8767	113	21	𝑀𝑀	𝑀𝑀	PROPN
ejge-8767	113	22	−	−	PROPN
ejge-8767	113	23	1)𝑖𝑖𝑡𝑡	1)𝑖𝑖𝑡𝑡	NUM
ejge-8767	113	24	+	+	CCONJ
ejge-8767	113	25	𝛽𝛽3	𝛽𝛽3	PROPN
ejge-8767	113	26	𝑓𝑓𝑓𝑓𝑆𝑆𝑑𝑑	𝑓𝑓𝑓𝑓𝑆𝑆𝑑𝑑	NOUN
ejge-8767	113	27	𝑦𝑦𝑎𝑎𝑎𝑎𝑎𝑎𝑑𝑑	𝑦𝑦𝑎𝑎𝑎𝑎𝑎𝑎𝑑𝑑	NOUN
ejge-8767	113	28	(	(	PUNCT
ejge-8767	113	29	𝑀𝑀	𝑀𝑀	PROPN
ejge-8767	113	30	−	−	PROPN
ejge-8767	113	31	1)𝑖𝑖𝑡𝑡	1)𝑖𝑖𝑡𝑡	NUM
ejge-8767	113	32	+	+	CCONJ
ejge-8767	113	33	𝛽𝛽4	𝛽𝛽4	PROPN
ejge-8767	113	34	𝑁𝑁𝑎𝑎𝑀𝑀𝑎𝑎𝑑𝑑𝑑𝑑𝑎𝑎𝑀𝑀𝑑𝑑	𝑁𝑁𝑎𝑎𝑀𝑀𝑎𝑎𝑑𝑑𝑑𝑑𝑎𝑎𝑀𝑀𝑑𝑑	PROPN
ejge-8767	113	35	+	+	CCONJ
ejge-8767	113	36	𝛽𝛽𝑖𝑖	𝛽𝛽𝑖𝑖	ADV
ejge-8767	113	37	∑	∑	ADV
ejge-8767	113	38	𝑌𝑌𝑎𝑎𝑎𝑎𝑎𝑎𝑖𝑖𝑖𝑖	𝑌𝑌𝑎𝑎𝑎𝑎𝑎𝑎𝑖𝑖𝑖𝑖	ADJ
ejge-8767	113	39	+	+	NUM
ejge-8767	113	40	𝛽𝛽𝑗𝑗	𝛽𝛽𝑗𝑗	ADJ
ejge-8767	113	41	∑	∑	PROPN
ejge-8767	113	42	𝐶𝐶𝑎𝑎𝑀𝑀𝑎𝑎𝐶𝐶𝑀𝑀𝑎𝑎𝑦𝑦𝑗𝑗𝑗𝑗	𝐶𝐶𝑎𝑎𝑀𝑀𝑎𝑎𝐶𝐶𝑀𝑀𝑎𝑎𝑦𝑦𝑗𝑗𝑗𝑗	PROPN
ejge-8767	113	43	+	+	CCONJ
ejge-8767	113	44	𝜀𝜀𝑖𝑖𝑡𝑡	𝜀𝜀𝑖𝑖𝑡𝑡	ADJ
ejge-8767	113	45	[	[	X
ejge-8767	113	46	4	4	NUM
ejge-8767	113	47	]	]	SYM
ejge-8767	113	48	2	2	NUM
ejge-8767	113	49	see	see	VERB
ejge-8767	113	50	https://mba.tuck.dartmouth.edu/pages/faculty/ken.french/data_library.html	https://mba.tuck.dartmouth.edu/pages/faculty/ken.french/data_library.html	X
ejge-8767	113	51	.	.	PUNCT
ejge-8767	114	1	https://mba.tuck.dartmouth.edu/pages/faculty/ken.french/data_library.html	https://mba.tuck.dartmouth.edu/pages/faculty/ken.french/data_library.html	VERB
ejge-8767	114	2	renato	renato	PROPN
ejge-8767	114	3	correia	correia	PROPN
ejge-8767	114	4	-	-	PUNCT
ejge-8767	114	5	domingues	domingue	NOUN
ejge-8767	114	6	et	et	PROPN
ejge-8767	114	7	al	al	PROPN
ejge-8767	114	8	.	.	PUNCT
ejge-8767	114	9	/	/	SYM
ejge-8767	114	10	european	european	PROPN
ejge-8767	114	11	journal	journal	PROPN
ejge-8767	114	12	of	of	ADP
ejge-8767	114	13	government	government	NOUN
ejge-8767	114	14	and	and	CCONJ
ejge-8767	114	15	economics	economic	NOUN
ejge-8767	114	16	11(1	11(1	NUM
ejge-8767	114	17	)	)	PUNCT
ejge-8767	114	18	,	,	PUNCT
ejge-8767	114	19	june	june	PROPN
ejge-8767	114	20	2022	2022	NUM
ejge-8767	114	21	,	,	PUNCT
ejge-8767	114	22	31	31	NUM
ejge-8767	114	23	-	-	SYM
ejge-8767	114	24	50	50	NUM
ejge-8767	114	25	38	38	NUM
ejge-8767	114	26	where	where	SCONJ
ejge-8767	114	27	:	:	PUNCT
ejge-8767	114	28	y_it	y_it	NOUN
ejge-8767	114	29	is	be	AUX
ejge-8767	114	30	the	the	DET
ejge-8767	114	31	performance	performance	NOUN
ejge-8767	114	32	measure	measure	NOUN
ejge-8767	114	33	for	for	ADP
ejge-8767	114	34	fund	fund	NOUN
ejge-8767	114	35	i	i	PRON
ejge-8767	114	36	at	at	ADP
ejge-8767	114	37	time	time	NOUN
ejge-8767	114	38	t.	t.	NOUN
ejge-8767	114	39	the	the	DET
ejge-8767	114	40	measures	measure	NOUN
ejge-8767	114	41	used	use	VERB
ejge-8767	114	42	are	be	AUX
ejge-8767	114	43	the	the	DET
ejge-8767	114	44	4	4	NUM
ejge-8767	114	45	-	-	PUNCT
ejge-8767	114	46	factor	factor	NOUN
ejge-8767	114	47	alpha	alpha	NOUN
ejge-8767	114	48	(	(	PUNCT
ejge-8767	114	49	alpha	alpha	NOUN
ejge-8767	114	50	)	)	PUNCT
ejge-8767	114	51	,	,	PUNCT
ejge-8767	114	52	the	the	DET
ejge-8767	114	53	sharpe	sharpe	PROPN
ejge-8767	114	54	ratio	ratio	PROPN
ejge-8767	114	55	(	(	PUNCT
ejge-8767	114	56	sharpe	sharpe	PROPN
ejge-8767	114	57	)	)	PUNCT
ejge-8767	114	58	,	,	PUNCT
ejge-8767	114	59	the	the	DET
ejge-8767	114	60	sortino	sortino	ADJ
ejge-8767	114	61	ratio	ratio	NOUN
ejge-8767	114	62	(	(	PUNCT
ejge-8767	114	63	sortino	sortino	NOUN
ejge-8767	114	64	)	)	PUNCT
ejge-8767	114	65	,	,	PUNCT
ejge-8767	114	66	and	and	CCONJ
ejge-8767	114	67	the	the	DET
ejge-8767	114	68	net	net	ADJ
ejge-8767	114	69	annual	annual	ADJ
ejge-8767	114	70	return	return	NOUN
ejge-8767	114	71	.	.	PUNCT
ejge-8767	115	1	net	net	ADJ
ejge-8767	115	2	expenses	expense	NOUN
ejge-8767	115	3	is	be	AUX
ejge-8767	115	4	total	total	ADJ
ejge-8767	115	5	expenses	expense	NOUN
ejge-8767	115	6	for	for	ADP
ejge-8767	115	7	fund	fund	NOUN
ejge-8767	115	8	i.	i.	PROPN
ejge-8767	115	9	tenure	tenure	NOUN
ejge-8767	115	10	is	be	AUX
ejge-8767	115	11	the	the	DET
ejge-8767	115	12	average	average	ADJ
ejge-8767	115	13	years	year	NOUN
ejge-8767	115	14	of	of	ADP
ejge-8767	115	15	management	management	NOUN
ejge-8767	115	16	experience	experience	NOUN
ejge-8767	115	17	of	of	ADP
ejge-8767	115	18	the	the	DET
ejge-8767	115	19	fund	fund	NOUN
ejge-8767	115	20	managers	manager	NOUN
ejge-8767	115	21	.	.	PUNCT
ejge-8767	116	1	fund	fund	NOUN
ejge-8767	116	2	years	year	NOUN
ejge-8767	116	3	is	be	AUX
ejge-8767	116	4	the	the	DET
ejge-8767	116	5	age	age	NOUN
ejge-8767	116	6	(	(	PUNCT
ejge-8767	116	7	years	year	NOUN
ejge-8767	116	8	)	)	PUNCT
ejge-8767	116	9	of	of	ADP
ejge-8767	116	10	the	the	DET
ejge-8767	116	11	fund	fund	NOUN
ejge-8767	116	12	.	.	PUNCT
ejge-8767	117	1	𝑁𝑁𝑎𝑎𝑀𝑀	𝑁𝑁𝑎𝑎𝑀𝑀	NUM
ejge-8767	117	2	𝐴𝐴𝑑𝑑𝑑𝑑𝑎𝑎𝑀𝑀𝑑𝑑	𝐴𝐴𝑑𝑑𝑑𝑑𝑎𝑎𝑀𝑀𝑑𝑑	PROPN
ejge-8767	117	3	is	be	AUX
ejge-8767	117	4	the	the	DET
ejge-8767	117	5	logarithm	logarithm	NOUN
ejge-8767	117	6	of	of	ADP
ejge-8767	117	7	the	the	DET
ejge-8767	117	8	fund	fund	NOUN
ejge-8767	117	9	's	's	PART
ejge-8767	117	10	net	net	ADJ
ejge-8767	117	11	assets	asset	NOUN
ejge-8767	117	12	.	.	PUNCT
ejge-8767	118	1	year	year	NOUN
ejge-8767	118	2	is	be	AUX
ejge-8767	118	3	a	a	DET
ejge-8767	118	4	dichotomic	dichotomic	ADJ
ejge-8767	118	5	variable	variable	NOUN
ejge-8767	118	6	that	that	PRON
ejge-8767	118	7	assume	assume	VERB
ejge-8767	118	8	1	1	NUM
ejge-8767	118	9	when	when	SCONJ
ejge-8767	118	10	is	be	AUX
ejge-8767	118	11	the	the	DET
ejge-8767	118	12	year	year	NOUN
ejge-8767	118	13	in	in	ADP
ejge-8767	118	14	cause	cause	NOUN
ejge-8767	118	15	.	.	PUNCT
ejge-8767	119	1	categoryj	categoryj	NOUN
ejge-8767	119	2	is	be	AUX
ejge-8767	119	3	a	a	DET
ejge-8767	119	4	dummy	dummy	ADJ
ejge-8767	119	5	variable	variable	NOUN
ejge-8767	119	6	of	of	ADP
ejge-8767	119	7	the	the	DET
ejge-8767	119	8	morningstar	morningstar	PROPN
ejge-8767	119	9	fund	fund	PROPN
ejge-8767	119	10	categories	category	NOUN
ejge-8767	119	11	.	.	PUNCT
ejge-8767	120	1	αi	αi	VERB
ejge-8767	120	2	and	and	CCONJ
ejge-8767	120	3	β	β	X
ejge-8767	120	4	are	be	AUX
ejge-8767	120	5	the	the	DET
ejge-8767	120	6	parameters	parameter	NOUN
ejge-8767	120	7	to	to	PART
ejge-8767	120	8	estimate	estimate	VERB
ejge-8767	120	9	in	in	ADP
ejge-8767	120	10	the	the	DET
ejge-8767	120	11	regressions	regression	NOUN
ejge-8767	120	12	and	and	CCONJ
ejge-8767	120	13	ε	ε	AUX
ejge-8767	120	14	_	_	PRON
ejge-8767	120	15	(	(	PUNCT
ejge-8767	120	16	i	i	PROPN
ejge-8767	120	17	,	,	PUNCT
ejge-8767	120	18	t	t	PROPN
ejge-8767	120	19	)	)	PUNCT
ejge-8767	120	20	are	be	AUX
ejge-8767	120	21	the	the	DET
ejge-8767	120	22	estimation	estimation	NOUN
ejge-8767	120	23	errors	error	NOUN
ejge-8767	120	24	.	.	PUNCT
ejge-8767	121	1	in	in	ADP
ejge-8767	121	2	the	the	DET
ejge-8767	121	3	second	second	ADJ
ejge-8767	121	4	models	model	NOUN
ejge-8767	121	5	,	,	PUNCT
ejge-8767	121	6	the	the	DET
ejge-8767	121	7	overall	overall	ADJ
ejge-8767	121	8	morningstar	morningstar	NOUN
ejge-8767	121	9	ratings	rating	NOUN
ejge-8767	121	10	are	be	AUX
ejge-8767	121	11	also	also	ADV
ejge-8767	121	12	entered	enter	VERB
ejge-8767	121	13	.	.	PUNCT
ejge-8767	122	1	in	in	ADP
ejge-8767	122	2	this	this	DET
ejge-8767	122	3	way	way	NOUN
ejge-8767	122	4	,	,	PUNCT
ejge-8767	122	5	we	we	PRON
ejge-8767	122	6	estimate	estimate	VERB
ejge-8767	122	7	the	the	DET
ejge-8767	122	8	following	follow	VERB
ejge-8767	122	9	equations	equation	NOUN
ejge-8767	122	10	:	:	PUNCT
ejge-8767	123	1	𝑌𝑌𝑖𝑖𝑡𝑡	𝑌𝑌𝑖𝑖𝑡𝑡	PROPN
ejge-8767	123	2	=	=	PRON
ejge-8767	123	3	𝛼𝛼𝑖𝑖	𝛼𝛼𝑖𝑖	ADJ
ejge-8767	123	4	+	+	CCONJ
ejge-8767	123	5	𝛽𝛽1𝑁𝑁𝑎𝑎𝑀𝑀	𝛽𝛽1𝑁𝑁𝑎𝑎𝑀𝑀	PROPN
ejge-8767	123	6	𝑎𝑎𝑒𝑒𝑎𝑎𝑎𝑎𝑆𝑆𝑑𝑑𝑎𝑎𝑑𝑑	𝑎𝑎𝑒𝑒𝑎𝑎𝑎𝑎𝑆𝑆𝑑𝑑𝑎𝑎𝑑𝑑	PROPN
ejge-8767	123	7	(	(	PUNCT
ejge-8767	123	8	𝑀𝑀	𝑀𝑀	PROPN
ejge-8767	123	9	−	−	PROPN
ejge-8767	123	10	1)𝑖𝑖𝑡𝑡	1)𝑖𝑖𝑡𝑡	NUM
ejge-8767	123	11	+	+	CCONJ
ejge-8767	123	12	𝛽𝛽2tenure	𝛽𝛽2tenure	X
ejge-8767	123	13	(	(	PUNCT
ejge-8767	123	14	𝑀𝑀	𝑀𝑀	PROPN
ejge-8767	123	15	−	−	PROPN
ejge-8767	123	16	1)𝑖𝑖𝑡𝑡	1)𝑖𝑖𝑡𝑡	NUM
ejge-8767	123	17	+	+	CCONJ
ejge-8767	123	18	𝛽𝛽3	𝛽𝛽3	NOUN
ejge-8767	123	19	(	(	PUNCT
ejge-8767	123	20	𝑓𝑓𝑓𝑓𝑆𝑆𝑑𝑑	𝑓𝑓𝑓𝑓𝑆𝑆𝑑𝑑	NOUN
ejge-8767	123	21	𝑦𝑦𝑎𝑎𝑎𝑎𝑎𝑎𝑑𝑑	𝑦𝑦𝑎𝑎𝑎𝑎𝑎𝑎𝑑𝑑	NOUN
ejge-8767	123	22	)	)	PUNCT
ejge-8767	123	23	(	(	PUNCT
ejge-8767	123	24	𝑀𝑀	𝑀𝑀	PROPN
ejge-8767	123	25	−	−	PROPN
ejge-8767	123	26	1)𝑖𝑖𝑡𝑡	1)𝑖𝑖𝑡𝑡	NUM
ejge-8767	123	27	+	+	CCONJ
ejge-8767	123	28	𝛽𝛽4	𝛽𝛽4	ADJ
ejge-8767	123	29	𝑁𝑁𝑎𝑎𝑀𝑀	𝑁𝑁𝑎𝑎𝑀𝑀	NUM
ejge-8767	123	30	𝐴𝐴𝑑𝑑𝑑𝑑𝑎𝑎𝑀𝑀𝑑𝑑	𝐴𝐴𝑑𝑑𝑑𝑑𝑎𝑎𝑀𝑀𝑑𝑑	PROPN
ejge-8767	123	31	(	(	PUNCT
ejge-8767	123	32	𝑀𝑀	𝑀𝑀	PROPN
ejge-8767	123	33	−	−	PROPN
ejge-8767	123	34	1)𝑖𝑖𝑡𝑡	1)𝑖𝑖𝑡𝑡	NUM
ejge-8767	123	35	+	+	NUM
ejge-8767	123	36	𝛽𝛽𝑘𝑘	𝛽𝛽𝑘𝑘	NOUN
ejge-8767	123	37	∑	∑	PUNCT
ejge-8767	123	38	𝑅𝑅𝑎𝑎𝑀𝑀𝑆𝑆𝑆𝑆𝐶𝐶	𝑅𝑅𝑎𝑎𝑀𝑀𝑆𝑆𝑆𝑆𝐶𝐶	ADP
ejge-8767	123	39	𝑖𝑖	𝑖𝑖	X
ejge-8767	123	40	(	(	PUNCT
ejge-8767	123	41	𝑀𝑀	𝑀𝑀	PROPN
ejge-8767	123	42	−	−	PROPN
ejge-8767	123	43	1)𝑖𝑖𝑡𝑡	1)𝑖𝑖𝑡𝑡	NUM
ejge-8767	123	44	+	+	CCONJ
ejge-8767	123	45	𝛽𝛽𝑖𝑖	𝛽𝛽𝑖𝑖	ADV
ejge-8767	123	46	∑	∑	ADP
ejge-8767	123	47	𝑌𝑌𝑎𝑎𝑎𝑎𝑎𝑎𝑖𝑖	𝑌𝑌𝑎𝑎𝑎𝑎𝑎𝑎𝑖𝑖	PROPN
ejge-8767	123	48	𝑖𝑖	𝑖𝑖	X
ejge-8767	123	49	+	+	PUNCT
ejge-8767	123	50	𝛽𝛽𝑗𝑗	𝛽𝛽𝑗𝑗	ADJ
ejge-8767	123	51	∑	∑	PROPN
ejge-8767	123	52	𝐶𝐶𝑎𝑎𝑀𝑀𝑎𝑎𝐶𝐶𝑀𝑀𝑎𝑎𝑦𝑦𝑗𝑗𝑗𝑗	𝐶𝐶𝑎𝑎𝑀𝑀𝑎𝑎𝐶𝐶𝑀𝑀𝑎𝑎𝑦𝑦𝑗𝑗𝑗𝑗	PROPN
ejge-8767	124	1	+	+	CCONJ
ejge-8767	124	2	𝜀𝜀𝑖𝑖𝑡𝑡	𝜀𝜀𝑖𝑖𝑡𝑡	ADJ
ejge-8767	124	3	[	[	X
ejge-8767	124	4	5	5	NUM
ejge-8767	124	5	]	]	PUNCT
ejge-8767	124	6	where	where	SCONJ
ejge-8767	124	7	rating	rating	NOUN
ejge-8767	124	8	is	be	AUX
ejge-8767	124	9	the	the	DET
ejge-8767	124	10	morningstar	morningstar	NOUN
ejge-8767	124	11	rating	rating	NOUN
ejge-8767	124	12	being	be	AUX
ejge-8767	124	13	the	the	DET
ejge-8767	124	14	dummy	dummy	ADJ
ejge-8767	124	15	variable	variable	NOUN
ejge-8767	124	16	for	for	ADP
ejge-8767	124	17	funds	fund	NOUN
ejge-8767	124	18	from	from	ADP
ejge-8767	124	19	1	1	NUM
ejge-8767	124	20	to	to	PART
ejge-8767	124	21	4	4	NUM
ejge-8767	124	22	stars	star	NOUN
ejge-8767	124	23	.	.	PUNCT
ejge-8767	125	1	based	base	VERB
ejge-8767	125	2	on	on	ADP
ejge-8767	125	3	chen	chen	PROPN
ejge-8767	125	4	and	and	CCONJ
ejge-8767	125	5	huang	huang	PROPN
ejge-8767	125	6	(	(	PUNCT
ejge-8767	125	7	2011	2011	NUM
ejge-8767	125	8	)	)	PUNCT
ejge-8767	125	9	we	we	PRON
ejge-8767	125	10	also	also	ADV
ejge-8767	125	11	used	use	VERB
ejge-8767	125	12	quantile	quantile	ADJ
ejge-8767	125	13	regression	regression	NOUN
ejge-8767	125	14	to	to	PART
ejge-8767	125	15	extend	extend	VERB
ejge-8767	125	16	the	the	DET
ejge-8767	125	17	regression	regression	NOUN
ejge-8767	125	18	model	model	NOUN
ejge-8767	125	19	to	to	ADP
ejge-8767	125	20	conditional	conditional	ADJ
ejge-8767	125	21	quantiles	quantile	NOUN
ejge-8767	125	22	of	of	ADP
ejge-8767	125	23	different	different	ADJ
ejge-8767	125	24	performance	performance	NOUN
ejge-8767	125	25	metrics	metric	NOUN
ejge-8767	125	26	,	,	PUNCT
ejge-8767	125	27	because	because	SCONJ
ejge-8767	125	28	it	it	PRON
ejge-8767	125	29	is	be	AUX
ejge-8767	125	30	more	more	ADV
ejge-8767	125	31	appropriate	appropriate	ADJ
ejge-8767	125	32	for	for	ADP
ejge-8767	125	33	a	a	DET
ejge-8767	125	34	heterogeneous	heterogeneous	ADJ
ejge-8767	125	35	universe	universe	NOUN
ejge-8767	125	36	of	of	ADP
ejge-8767	125	37	mutual	mutual	ADJ
ejge-8767	125	38	funds	fund	NOUN
ejge-8767	125	39	,	,	PUNCT
ejge-8767	125	40	where	where	SCONJ
ejge-8767	125	41	strategies	strategy	NOUN
ejge-8767	125	42	and	and	CCONJ
ejge-8767	125	43	objectives	objective	NOUN
ejge-8767	125	44	may	may	AUX
ejge-8767	125	45	vary	vary	VERB
ejge-8767	125	46	.	.	PUNCT
ejge-8767	126	1	this	this	DET
ejge-8767	126	2	model	model	NOUN
ejge-8767	126	3	makes	make	VERB
ejge-8767	126	4	it	it	PRON
ejge-8767	126	5	possible	possible	ADJ
ejge-8767	126	6	to	to	PART
ejge-8767	126	7	capture	capture	VERB
ejge-8767	126	8	information	information	NOUN
ejge-8767	126	9	on	on	ADP
ejge-8767	126	10	the	the	DET
ejge-8767	126	11	coefficients	coefficient	NOUN
ejge-8767	126	12	in	in	ADP
ejge-8767	126	13	different	different	ADJ
ejge-8767	126	14	quantiles	quantile	NOUN
ejge-8767	126	15	of	of	ADP
ejge-8767	126	16	the	the	DET
ejge-8767	126	17	dependent	dependent	ADJ
ejge-8767	126	18	variable	variable	NOUN
ejge-8767	126	19	,	,	PUNCT
ejge-8767	126	20	given	give	VERB
ejge-8767	126	21	the	the	DET
ejge-8767	126	22	set	set	NOUN
ejge-8767	126	23	of	of	ADP
ejge-8767	126	24	endogenous	endogenous	ADJ
ejge-8767	126	25	variables	variable	NOUN
ejge-8767	126	26	(	(	PUNCT
ejge-8767	126	27	classification	classification	NOUN
ejge-8767	126	28	by	by	ADP
ejge-8767	126	29	stars	star	NOUN
ejge-8767	126	30	)	)	PUNCT
ejge-8767	126	31	.	.	PUNCT
ejge-8767	127	1	furthermore	furthermore	ADV
ejge-8767	127	2	,	,	PUNCT
ejge-8767	127	3	the	the	DET
ejge-8767	127	4	conditional	conditional	ADJ
ejge-8767	127	5	quantile	quantile	ADJ
ejge-8767	127	6	regression	regression	NOUN
ejge-8767	127	7	developed	develop	VERB
ejge-8767	127	8	by	by	ADP
ejge-8767	127	9	koenker	koenker	NOUN
ejge-8767	127	10	and	and	CCONJ
ejge-8767	127	11	bas	bas	PROPN
ejge-8767	127	12	-	-	PUNCT
ejge-8767	127	13	sett	sett	PROPN
ejge-8767	127	14	(	(	PUNCT
ejge-8767	127	15	1978	1978	NUM
ejge-8767	127	16	)	)	PUNCT
ejge-8767	127	17	is	be	AUX
ejge-8767	127	18	well	well	ADV
ejge-8767	127	19	suited	suited	ADJ
ejge-8767	127	20	to	to	ADP
ejge-8767	127	21	distorted	distorted	ADJ
ejge-8767	127	22	distributions	distribution	NOUN
ejge-8767	127	23	of	of	ADP
ejge-8767	127	24	fund	fund	NOUN
ejge-8767	127	25	returns	return	NOUN
ejge-8767	127	26	.	.	PUNCT
ejge-8767	128	1	in	in	ADP
ejge-8767	128	2	particular	particular	ADJ
ejge-8767	128	3	,	,	PUNCT
ejge-8767	128	4	we	we	PRON
ejge-8767	128	5	adopted	adopt	VERB
ejge-8767	128	6	the	the	DET
ejge-8767	128	7	method	method	NOUN
ejge-8767	128	8	proposed	propose	VERB
ejge-8767	128	9	by	by	ADP
ejge-8767	128	10	efron	efron	PROPN
ejge-8767	128	11	(	(	PUNCT
ejge-8767	128	12	1979	1979	NUM
ejge-8767	128	13	)	)	PUNCT
ejge-8767	128	14	.	.	PUNCT
ejge-8767	129	1	as	as	ADP
ejge-8767	129	2	a	a	DET
ejge-8767	129	3	vector	vector	NOUN
ejge-8767	129	4	of	of	ADP
ejge-8767	129	5	exogenous	exogenous	ADJ
ejge-8767	129	6	variables	variable	NOUN
ejge-8767	129	7	that	that	PRON
ejge-8767	129	8	represent	represent	VERB
ejge-8767	129	9	the	the	DET
ejge-8767	129	10	classification	classification	NOUN
ejge-8767	129	11	of	of	ADP
ejge-8767	129	12	funds	fund	NOUN
ejge-8767	129	13	,	,	PUNCT
ejge-8767	129	14	the	the	DET
ejge-8767	129	15	quantile	quantile	ADJ
ejge-8767	129	16	model	model	NOUN
ejge-8767	129	17	can	can	AUX
ejge-8767	129	18	be	be	AUX
ejge-8767	129	19	written	write	VERB
ejge-8767	129	20	as	as	ADP
ejge-8767	129	21	:	:	PUNCT
ejge-8767	129	22	𝑦𝑦𝑖𝑖	𝑦𝑦𝑖𝑖	NOUN
ejge-8767	129	23	=	=	NOUN
ejge-8767	129	24	𝑋𝑋𝑖𝑖´𝛽𝛽𝜙𝜙	𝑋𝑋𝑖𝑖´𝛽𝛽𝜙𝜙	NOUN
ejge-8767	129	25	+	+	CCONJ
ejge-8767	129	26	𝑓𝑓𝜙𝜙𝑖𝑖	𝑓𝑓𝜙𝜙𝑖𝑖	ADJ
ejge-8767	130	1	[	[	X
ejge-8767	130	2	6	6	NUM
ejge-8767	130	3	]	]	PUNCT
ejge-8767	130	4	where	where	SCONJ
ejge-8767	130	5	:	:	PUNCT
ejge-8767	130	6	𝑄𝑄𝑓𝑓𝑎𝑎𝑆𝑆𝑀𝑀𝜙𝜙(𝑦𝑦𝑖𝑖|𝑋𝑋𝑖𝑖	𝑄𝑄𝑓𝑓𝑎𝑎𝑆𝑆𝑀𝑀𝜙𝜙(𝑦𝑦𝑖𝑖|𝑋𝑋𝑖𝑖	PROPN
ejge-8767	130	7	)	)	PUNCT
ejge-8767	130	8	=	=	NOUN
ejge-8767	130	9	𝑋𝑋𝑖𝑖´𝛽𝛽𝜙𝜙	𝑋𝑋𝑖𝑖´𝛽𝛽𝜙𝜙	ADJ
ejge-8767	130	10	[	[	X
ejge-8767	130	11	7	7	X
ejge-8767	130	12	]	]	SYM
ejge-8767	130	13	𝑄𝑄𝑓𝑓𝑎𝑎𝑆𝑆𝑀𝑀𝜙𝜙(𝑓𝑓𝜙𝜙𝑖𝑖|𝑋𝑋𝑖𝑖)=0	𝑄𝑄𝑓𝑓𝑎𝑎𝑆𝑆𝑀𝑀𝜙𝜙(𝑓𝑓𝜙𝜙𝑖𝑖|𝑋𝑋𝑖𝑖)=0	PROPN
ejge-8767	130	14	renato	renato	PROPN
ejge-8767	130	15	correia	correia	PROPN
ejge-8767	130	16	-	-	PUNCT
ejge-8767	130	17	domingues	domingue	NOUN
ejge-8767	130	18	et	et	PROPN
ejge-8767	130	19	al	al	PROPN
ejge-8767	130	20	.	.	PUNCT
ejge-8767	130	21	/	/	SYM
ejge-8767	130	22	european	european	PROPN
ejge-8767	130	23	journal	journal	PROPN
ejge-8767	130	24	of	of	ADP
ejge-8767	130	25	government	government	NOUN
ejge-8767	130	26	and	and	CCONJ
ejge-8767	130	27	economics	economic	NOUN
ejge-8767	130	28	11(1	11(1	NUM
ejge-8767	130	29	)	)	PUNCT
ejge-8767	130	30	,	,	PUNCT
ejge-8767	130	31	june	june	PROPN
ejge-8767	130	32	2022	2022	NUM
ejge-8767	130	33	,	,	PUNCT
ejge-8767	130	34	31	31	NUM
ejge-8767	130	35	-	-	SYM
ejge-8767	130	36	50	50	NUM
ejge-8767	130	37	39	39	NUM
ejge-8767	130	38	4.2	4.2	NUM
ejge-8767	130	39	.	.	PUNCT
ejge-8767	131	1	results	result	NOUN
ejge-8767	131	2	in	in	ADP
ejge-8767	131	3	table	table	NOUN
ejge-8767	131	4	2	2	NUM
ejge-8767	131	5	we	we	PRON
ejge-8767	131	6	estimate	estimate	VERB
ejge-8767	131	7	the	the	DET
ejge-8767	131	8	dynamic	dynamic	ADJ
ejge-8767	131	9	data	datum	NOUN
ejge-8767	131	10	panel	panel	NOUN
ejge-8767	131	11	models	model	NOUN
ejge-8767	131	12	using	use	VERB
ejge-8767	131	13	regression	regression	NOUN
ejge-8767	131	14	with	with	ADP
ejge-8767	131	15	random	random	ADJ
ejge-8767	131	16	effects	effect	NOUN
ejge-8767	131	17	.	.	PUNCT
ejge-8767	132	1	it	it	PRON
ejge-8767	132	2	can	can	AUX
ejge-8767	132	3	be	be	AUX
ejge-8767	132	4	seen	see	VERB
ejge-8767	132	5	a	a	DET
ejge-8767	132	6	negative	negative	ADJ
ejge-8767	132	7	and	and	CCONJ
ejge-8767	132	8	significant	significant	ADJ
ejge-8767	132	9	relationship	relationship	NOUN
ejge-8767	132	10	between	between	ADP
ejge-8767	132	11	the	the	DET
ejge-8767	132	12	risk	risk	NOUN
ejge-8767	132	13	-	-	PUNCT
ejge-8767	132	14	adjusted	adjust	VERB
ejge-8767	132	15	returns	return	NOUN
ejge-8767	132	16	(	(	PUNCT
ejge-8767	132	17	sharpe	sharpe	NOUN
ejge-8767	132	18	and	and	CCONJ
ejge-8767	132	19	sortino	sortino	NOUN
ejge-8767	132	20	)	)	PUNCT
ejge-8767	132	21	and	and	CCONJ
ejge-8767	132	22	the	the	DET
ejge-8767	132	23	level	level	NOUN
ejge-8767	132	24	of	of	ADP
ejge-8767	132	25	expenses	expense	NOUN
ejge-8767	132	26	of	of	ADP
ejge-8767	132	27	the	the	DET
ejge-8767	132	28	funds	fund	NOUN
ejge-8767	132	29	themselves	themselves	PRON
ejge-8767	132	30	in	in	ADP
ejge-8767	132	31	the	the	DET
ejge-8767	132	32	year	year	NOUN
ejge-8767	132	33	.	.	PUNCT
ejge-8767	133	1	there	there	PRON
ejge-8767	133	2	is	be	VERB
ejge-8767	133	3	also	also	ADV
ejge-8767	133	4	a	a	DET
ejge-8767	133	5	negative	negative	ADJ
ejge-8767	133	6	,	,	PUNCT
ejge-8767	133	7	although	although	SCONJ
ejge-8767	133	8	not	not	PART
ejge-8767	133	9	significant	significant	ADJ
ejge-8767	133	10	,	,	PUNCT
ejge-8767	133	11	relationship	relationship	NOUN
ejge-8767	133	12	with	with	ADP
ejge-8767	133	13	the	the	DET
ejge-8767	133	14	4	4	NUM
ejge-8767	133	15	-	-	PUNCT
ejge-8767	133	16	factor	factor	NOUN
ejge-8767	133	17	(	(	PUNCT
ejge-8767	133	18	alpha	alpha	NOUN
ejge-8767	133	19	)	)	PUNCT
ejge-8767	133	20	adjusted	adjust	VERB
ejge-8767	133	21	performance	performance	NOUN
ejge-8767	133	22	measures	measure	NOUN
ejge-8767	133	23	and	and	CCONJ
ejge-8767	133	24	the	the	DET
ejge-8767	133	25	net	net	ADJ
ejge-8767	133	26	annual	annual	ADJ
ejge-8767	133	27	return	return	NOUN
ejge-8767	133	28	.	.	PUNCT
ejge-8767	134	1	in	in	ADP
ejge-8767	134	2	addition	addition	NOUN
ejge-8767	134	3	,	,	PUNCT
ejge-8767	134	4	it	it	PRON
ejge-8767	134	5	appears	appear	VERB
ejge-8767	134	6	to	to	PART
ejge-8767	134	7	be	be	AUX
ejge-8767	134	8	a	a	DET
ejge-8767	134	9	negative	negative	ADJ
ejge-8767	134	10	and	and	CCONJ
ejge-8767	134	11	significant	significant	ADJ
ejge-8767	134	12	relationship	relationship	NOUN
ejge-8767	134	13	between	between	ADP
ejge-8767	134	14	the	the	DET
ejge-8767	134	15	performance	performance	NOUN
ejge-8767	134	16	and	and	CCONJ
ejge-8767	134	17	age	age	NOUN
ejge-8767	134	18	of	of	ADP
ejge-8767	134	19	the	the	DET
ejge-8767	134	20	fund	fund	NOUN
ejge-8767	134	21	,	,	PUNCT
ejge-8767	134	22	and	and	CCONJ
ejge-8767	134	23	a	a	DET
ejge-8767	134	24	positive	positive	ADJ
ejge-8767	134	25	relationship	relationship	NOUN
ejge-8767	134	26	with	with	ADP
ejge-8767	134	27	respect	respect	NOUN
ejge-8767	134	28	to	to	ADP
ejge-8767	134	29	size	size	NOUN
ejge-8767	134	30	.	.	PUNCT
ejge-8767	135	1	annex	annex	VERB
ejge-8767	135	2	1	1	NUM
ejge-8767	135	3	also	also	ADV
ejge-8767	135	4	analyses	analyse	VERB
ejge-8767	135	5	the	the	DET
ejge-8767	135	6	ability	ability	NOUN
ejge-8767	135	7	of	of	ADP
ejge-8767	135	8	past	past	ADJ
ejge-8767	135	9	expenses	expense	NOUN
ejge-8767	135	10	to	to	PART
ejge-8767	135	11	predict	predict	VERB
ejge-8767	135	12	future	future	ADJ
ejge-8767	135	13	performance	performance	NOUN
ejge-8767	135	14	.	.	PUNCT
ejge-8767	136	1	there	there	PRON
ejge-8767	136	2	is	be	VERB
ejge-8767	136	3	a	a	DET
ejge-8767	136	4	negative	negative	ADJ
ejge-8767	136	5	and	and	CCONJ
ejge-8767	136	6	significant	significant	ADJ
ejge-8767	136	7	relationship	relationship	NOUN
ejge-8767	136	8	for	for	ADP
ejge-8767	136	9	risk	risk	NOUN
ejge-8767	136	10	-	-	PUNCT
ejge-8767	136	11	adjusted	adjust	VERB
ejge-8767	136	12	measures	measure	NOUN
ejge-8767	136	13	.	.	PUNCT
ejge-8767	137	1	this	this	PRON
ejge-8767	137	2	means	mean	VERB
ejge-8767	137	3	that	that	SCONJ
ejge-8767	137	4	one	one	NUM
ejge-8767	137	5	year	year	NOUN
ejge-8767	137	6	's	's	PART
ejge-8767	137	7	expenses	expense	NOUN
ejge-8767	137	8	have	have	VERB
ejge-8767	137	9	some	some	DET
ejge-8767	137	10	power	power	NOUN
ejge-8767	137	11	to	to	PART
ejge-8767	137	12	predict	predict	VERB
ejge-8767	137	13	risk	risk	NOUN
ejge-8767	137	14	-	-	PUNCT
ejge-8767	137	15	adjusted	adjust	VERB
ejge-8767	137	16	or	or	CCONJ
ejge-8767	137	17	non	non	ADJ
ejge-8767	137	18	-	-	ADJ
ejge-8767	137	19	risk	risk	NOUN
ejge-8767	137	20	-	-	PUNCT
ejge-8767	137	21	adjusted	adjust	VERB
ejge-8767	137	22	performance	performance	NOUN
ejge-8767	137	23	one	one	NUM
ejge-8767	137	24	year	year	NOUN
ejge-8767	137	25	in	in	ADP
ejge-8767	137	26	advance	advance	NOUN
ejge-8767	137	27	,	,	PUNCT
ejge-8767	137	28	given	give	VERB
ejge-8767	137	29	that	that	SCONJ
ejge-8767	137	30	higher	high	ADJ
ejge-8767	137	31	expenses	expense	NOUN
ejge-8767	137	32	funds	fund	NOUN
ejge-8767	137	33	will	will	AUX
ejge-8767	137	34	underperform	underperform	VERB
ejge-8767	137	35	significantly	significantly	ADV
ejge-8767	137	36	in	in	ADP
ejge-8767	137	37	the	the	DET
ejge-8767	137	38	next	next	ADJ
ejge-8767	137	39	year	year	NOUN
ejge-8767	137	40	.	.	PUNCT
ejge-8767	138	1	table	table	NOUN
ejge-8767	138	2	3	3	NUM
ejge-8767	138	3	shows	show	VERB
ejge-8767	138	4	that	that	SCONJ
ejge-8767	138	5	when	when	SCONJ
ejge-8767	138	6	we	we	PRON
ejge-8767	138	7	use	use	VERB
ejge-8767	138	8	a	a	DET
ejge-8767	138	9	3	3	NUM
ejge-8767	138	10	-	-	PUNCT
ejge-8767	138	11	year	year	NOUN
ejge-8767	138	12	lag	lag	NOUN
ejge-8767	138	13	,	,	PUNCT
ejge-8767	138	14	that	that	ADV
ejge-8767	138	15	is	is	ADV
ejge-8767	138	16	,	,	PUNCT
ejge-8767	138	17	the	the	DET
ejge-8767	138	18	expenses	expense	NOUN
ejge-8767	138	19	of	of	ADP
ejge-8767	138	20	the	the	DET
ejge-8767	138	21	t-3	t-3	ADJ
ejge-8767	138	22	period	period	NOUN
ejge-8767	138	23	,	,	PUNCT
ejge-8767	138	24	there	there	PRON
ejge-8767	138	25	is	be	VERB
ejge-8767	138	26	also	also	ADV
ejge-8767	138	27	a	a	DET
ejge-8767	138	28	negative	negative	ADJ
ejge-8767	138	29	and	and	CCONJ
ejge-8767	138	30	significant	significant	ADJ
ejge-8767	138	31	relationship	relationship	NOUN
ejge-8767	138	32	for	for	ADP
ejge-8767	138	33	all	all	DET
ejge-8767	138	34	the	the	DET
ejge-8767	138	35	performance	performance	NOUN
ejge-8767	138	36	measures	measure	NOUN
ejge-8767	138	37	used	use	VERB
ejge-8767	138	38	(	(	PUNCT
ejge-8767	138	39	alpha	alpha	PROPN
ejge-8767	138	40	,	,	PUNCT
ejge-8767	138	41	sharpe	sharpe	PROPN
ejge-8767	138	42	,	,	PUNCT
ejge-8767	138	43	sortino	sortino	NOUN
ejge-8767	138	44	,	,	PUNCT
ejge-8767	138	45	and	and	CCONJ
ejge-8767	138	46	annual	annual	ADJ
ejge-8767	138	47	return	return	NOUN
ejge-8767	138	48	)	)	PUNCT
ejge-8767	138	49	.	.	PUNCT
ejge-8767	139	1	in	in	ADP
ejge-8767	139	2	this	this	DET
ejge-8767	139	3	way	way	NOUN
ejge-8767	139	4	we	we	PRON
ejge-8767	139	5	obtain	obtain	VERB
ejge-8767	139	6	evidence	evidence	NOUN
ejge-8767	139	7	of	of	ADP
ejge-8767	139	8	the	the	DET
ejge-8767	139	9	predictive	predictive	ADJ
ejge-8767	139	10	power	power	NOUN
ejge-8767	139	11	of	of	ADP
ejge-8767	139	12	expenses	expense	NOUN
ejge-8767	139	13	on	on	ADP
ejge-8767	139	14	the	the	DET
ejge-8767	139	15	future	future	ADJ
ejge-8767	139	16	performance	performance	NOUN
ejge-8767	139	17	of	of	ADP
ejge-8767	139	18	mutual	mutual	ADJ
ejge-8767	139	19	funds	fund	NOUN
ejge-8767	139	20	at	at	ADP
ejge-8767	139	21	1	1	NUM
ejge-8767	139	22	and	and	CCONJ
ejge-8767	139	23	3	3	NUM
ejge-8767	139	24	years	year	NOUN
ejge-8767	139	25	.	.	PUNCT
ejge-8767	140	1	table	table	NOUN
ejge-8767	140	2	2	2	NUM
ejge-8767	140	3	.	.	PUNCT
ejge-8767	140	4	regression	regression	NOUN
ejge-8767	140	5	of	of	ADP
ejge-8767	140	6	expenses	expense	NOUN
ejge-8767	140	7	and	and	CCONJ
ejge-8767	140	8	performance	performance	NOUN
ejge-8767	140	9	,	,	PUNCT
ejge-8767	140	10	with	with	ADP
ejge-8767	140	11	random	random	ADJ
ejge-8767	140	12	effects	effect	NOUN
ejge-8767	140	13	.	.	PUNCT
ejge-8767	141	1	variable	variable	ADJ
ejge-8767	141	2	alfa	alfa	PROPN
ejge-8767	141	3	sharpe	sharpe	PROPN
ejge-8767	141	4	sortino	sortino	PROPN
ejge-8767	141	5	annual	annual	ADJ
ejge-8767	141	6	return	return	VERB
ejge-8767	141	7	net	net	ADJ
ejge-8767	141	8	expenses	expense	NOUN
ejge-8767	141	9	-0.0335	-0.0335	NOUN
ejge-8767	141	10	-0.0238	-0.0238	PROPN
ejge-8767	141	11	*	*	PUNCT
ejge-8767	142	1	*	*	PUNCT
ejge-8767	142	2	*	*	PUNCT
ejge-8767	142	3	-0.0478	-0.0478	PROPN
ejge-8767	142	4	*	*	PUNCT
ejge-8767	142	5	*	*	PUNCT
ejge-8767	142	6	*	*	PUNCT
ejge-8767	142	7	-0.2040	-0.2040	ADJ
ejge-8767	142	8	tenure	tenure	NOUN
ejge-8767	142	9	-0.0059	-0.0059	NOUN
ejge-8767	142	10	0.0005	0.0005	NUM
ejge-8767	142	11	0.0003	0.0003	NUM
ejge-8767	142	12	0.0021	0.0021	NUM
ejge-8767	142	13	net	net	ADJ
ejge-8767	142	14	assets	asset	NOUN
ejge-8767	142	15	0.0051	0.0051	NUM
ejge-8767	142	16	0.0181	0.0181	NUM
ejge-8767	142	17	*	*	PUNCT
ejge-8767	142	18	*	*	PUNCT
ejge-8767	142	19	*	*	PUNCT
ejge-8767	142	20	0.0262	0.0262	NUM
ejge-8767	142	21	*	*	PUNCT
ejge-8767	142	22	*	*	PUNCT
ejge-8767	142	23	*	*	X
ejge-8767	142	24	0.0840	0.0840	NUM
ejge-8767	142	25	fund	fund	NOUN
ejge-8767	142	26	years	year	NOUN
ejge-8767	142	27	-0.0044	-0.0044	PUNCT
ejge-8767	142	28	-0.0049	-0.0049	PUNCT
ejge-8767	142	29	*	*	PUNCT
ejge-8767	142	30	*	*	PUNCT
ejge-8767	142	31	*	*	PUNCT
ejge-8767	142	32	-0.0078	-0.0078	X
ejge-8767	142	33	*	*	PUNCT
ejge-8767	142	34	*	*	PUNCT
ejge-8767	142	35	*	*	NOUN
ejge-8767	142	36	-0.0563	-0.0563	ADJ
ejge-8767	142	37	*	*	PUNCT
ejge-8767	142	38	*	*	PUNCT
ejge-8767	142	39	flexcap	flexcap	NOUN
ejge-8767	142	40	0.4586	0.4586	NUM
ejge-8767	142	41	*	*	PUNCT
ejge-8767	142	42	*	*	X
ejge-8767	142	43	0.0982	0.0982	NUM
ejge-8767	142	44	0.1908	0.1908	NUM
ejge-8767	142	45	2.3688	2.3688	NUM
ejge-8767	142	46	*	*	PUNCT
ejge-8767	142	47	largecap	largecap	NOUN
ejge-8767	142	48	0.3339	0.3339	NUM
ejge-8767	142	49	*	*	PUNCT
ejge-8767	142	50	0.0057	0.0057	NUM
ejge-8767	142	51	0.0051	0.0051	NUM
ejge-8767	142	52	0.3598	0.3598	NUM
ejge-8767	142	53	midcap	midcap	NOUN
ejge-8767	142	54	0.5914	0.5914	NUM
ejge-8767	142	55	*	*	PUNCT
ejge-8767	142	56	*	*	PUNCT
ejge-8767	142	57	*	*	PUNCT
ejge-8767	142	58	0.2075	0.2075	NUM
ejge-8767	142	59	*	*	PUNCT
ejge-8767	142	60	*	*	PUNCT
ejge-8767	142	61	0.3424	0.3424	NUM
ejge-8767	142	62	*	*	PUNCT
ejge-8767	142	63	*	*	PUNCT
ejge-8767	142	64	6.6403	6.6403	NUM
ejge-8767	142	65	*	*	PUNCT
ejge-8767	142	66	*	*	PUNCT
ejge-8767	142	67	*	*	PUNCT
ejge-8767	142	68	smallcap	smallcap	NOUN
ejge-8767	142	69	0.5986	0.5986	NUM
ejge-8767	142	70	*	*	PUNCT
ejge-8767	142	71	*	*	PUNCT
ejge-8767	142	72	*	*	PUNCT
ejge-8767	142	73	0.1531	0.1531	NUM
ejge-8767	142	74	*	*	NOUN
ejge-8767	142	75	0.2310	0.2310	NUM
ejge-8767	142	76	5.6062	5.6062	NUM
ejge-8767	142	77	*	*	PUNCT
ejge-8767	142	78	*	*	PUNCT
ejge-8767	142	79	*	*	PUNCT
ejge-8767	143	1	_	_	PRON
ejge-8767	143	2	cons	con	NOUN
ejge-8767	143	3	0.1932	0.1932	NUM
ejge-8767	143	4	1.0635	1.0635	NUM
ejge-8767	143	5	*	*	PUNCT
ejge-8767	143	6	*	*	PUNCT
ejge-8767	143	7	*	*	PUNCT
ejge-8767	144	1	2.0937	2.0937	NUM
ejge-8767	144	2	*	*	PUNCT
ejge-8767	144	3	*	*	PUNCT
ejge-8767	144	4	*	*	PUNCT
ejge-8767	144	5	1.7214	1.7214	NUM
ejge-8767	144	6	n	n	NUM
ejge-8767	144	7	1411	1411	NUM
ejge-8767	144	8	1185	1185	NUM
ejge-8767	144	9	1185	1185	NUM
ejge-8767	144	10	1388	1388	NUM
ejge-8767	144	11	r2_w	r2_w	NOUN
ejge-8767	144	12	0.5796	0.5796	NUM
ejge-8767	144	13	0.9511	0.9511	NUM
ejge-8767	144	14	0.9153	0.9153	NUM
ejge-8767	144	15	0.9432	0.9432	NUM
ejge-8767	144	16	note	note	NOUN
ejge-8767	144	17	:	:	PUNCT
ejge-8767	144	18	alpha	alpha	NOUN
ejge-8767	144	19	represents	represent	VERB
ejge-8767	144	20	carhart	carhart	NOUN
ejge-8767	144	21	factor	factor	NOUN
ejge-8767	144	22	adjusted	adjust	VERB
ejge-8767	144	23	return	return	NOUN
ejge-8767	144	24	;	;	PUNCT
ejge-8767	144	25	sharpe	sharpe	PROPN
ejge-8767	144	26	and	and	CCONJ
ejge-8767	144	27	sortino	sortino	NOUN
ejge-8767	144	28	are	be	AUX
ejge-8767	144	29	risk	risk	NOUN
ejge-8767	144	30	-	-	PUNCT
ejge-8767	144	31	adjusted	adjust	VERB
ejge-8767	144	32	profitability	profitability	NOUN
ejge-8767	144	33	measures	measure	NOUN
ejge-8767	144	34	;	;	PUNCT
ejge-8767	144	35	annual	annual	ADJ
ejge-8767	144	36	return	return	NOUN
ejge-8767	144	37	is	be	AUX
ejge-8767	144	38	the	the	DET
ejge-8767	144	39	net	net	ADJ
ejge-8767	144	40	annual	annual	ADJ
ejge-8767	144	41	return	return	NOUN
ejge-8767	144	42	;	;	PUNCT
ejge-8767	144	43	net	net	ADJ
ejge-8767	144	44	expenses	expense	NOUN
ejge-8767	144	45	are	be	AUX
ejge-8767	144	46	the	the	DET
ejge-8767	144	47	expenses	expense	NOUN
ejge-8767	144	48	of	of	ADP
ejge-8767	144	49	the	the	DET
ejge-8767	144	50	funds	fund	NOUN
ejge-8767	144	51	for	for	ADP
ejge-8767	144	52	year	year	NOUN
ejge-8767	144	53	n	n	CCONJ
ejge-8767	144	54	;	;	PUNCT
ejge-8767	144	55	flexcap	flexcap	NOUN
ejge-8767	144	56	,	,	PUNCT
ejge-8767	144	57	largecap	largecap	NOUN
ejge-8767	144	58	,	,	PUNCT
ejge-8767	144	59	midcap	midcap	NOUN
ejge-8767	144	60	and	and	CCONJ
ejge-8767	144	61	smallcap	smallcap	NOUN
ejge-8767	144	62	are	be	AUX
ejge-8767	144	63	control	control	NOUN
ejge-8767	144	64	variables	variable	NOUN
ejge-8767	144	65	that	that	PRON
ejge-8767	144	66	adjust	adjust	VERB
ejge-8767	144	67	the	the	DET
ejge-8767	144	68	morningstar	morningstar	NOUN
ejge-8767	144	69	categories	category	NOUN
ejge-8767	144	70	of	of	ADP
ejge-8767	144	71	equity	equity	NOUN
ejge-8767	144	72	funds	fund	NOUN
ejge-8767	144	73	;	;	PUNCT
ejge-8767	144	74	tenure	tenure	NOUN
ejge-8767	144	75	is	be	AUX
ejge-8767	144	76	a	a	DET
ejge-8767	144	77	control	control	NOUN
ejge-8767	144	78	variable	variable	NOUN
ejge-8767	144	79	for	for	ADP
ejge-8767	144	80	management	management	NOUN
ejge-8767	144	81	experience	experience	NOUN
ejge-8767	144	82	;	;	PUNCT
ejge-8767	144	83	net	net	ADJ
ejge-8767	144	84	assets	asset	NOUN
ejge-8767	144	85	is	be	AUX
ejge-8767	144	86	the	the	DET
ejge-8767	144	87	control	control	NOUN
ejge-8767	144	88	variable	variable	NOUN
ejge-8767	144	89	for	for	ADP
ejge-8767	144	90	the	the	DET
ejge-8767	144	91	size	size	NOUN
ejge-8767	144	92	of	of	ADP
ejge-8767	144	93	the	the	DET
ejge-8767	144	94	fund	fund	NOUN
ejge-8767	144	95	,	,	PUNCT
ejge-8767	144	96	while	while	SCONJ
ejge-8767	144	97	years	year	NOUN
ejge-8767	144	98	of	of	ADP
ejge-8767	144	99	the	the	DET
ejge-8767	144	100	fund	fund	NOUN
ejge-8767	144	101	measures	measure	VERB
ejge-8767	144	102	the	the	DET
ejge-8767	144	103	age	age	NOUN
ejge-8767	144	104	of	of	ADP
ejge-8767	144	105	the	the	DET
ejge-8767	144	106	fund	fund	NOUN
ejge-8767	144	107	.	.	PUNCT
ejge-8767	145	1	the	the	DET
ejge-8767	145	2	estimation	estimation	NOUN
ejge-8767	145	3	of	of	ADP
ejge-8767	145	4	the	the	DET
ejge-8767	145	5	dummy	dummy	ADJ
ejge-8767	145	6	variables	variable	NOUN
ejge-8767	145	7	for	for	ADP
ejge-8767	145	8	time	time	NOUN
ejge-8767	145	9	is	be	AUX
ejge-8767	145	10	not	not	PART
ejge-8767	145	11	shown	show	VERB
ejge-8767	145	12	.	.	PUNCT
ejge-8767	146	1	n	n	PRON
ejge-8767	146	2	is	be	AUX
ejge-8767	146	3	the	the	DET
ejge-8767	146	4	number	number	NOUN
ejge-8767	146	5	of	of	ADP
ejge-8767	146	6	funds	fund	NOUN
ejge-8767	146	7	and	and	CCONJ
ejge-8767	146	8	r2_w	r2_w	NOUN
ejge-8767	146	9	the	the	DET
ejge-8767	146	10	adjusted	adjust	VERB
ejge-8767	146	11	coefficient	coefficient	NOUN
ejge-8767	146	12	of	of	ADP
ejge-8767	146	13	regression	regression	NOUN
ejge-8767	146	14	.	.	PUNCT
ejge-8767	147	1	*	*	PUNCT
ejge-8767	147	2	significant	significant	ADJ
ejge-8767	147	3	at	at	ADP
ejge-8767	147	4	10	10	NUM
ejge-8767	147	5	%	%	NOUN
ejge-8767	147	6	;	;	PUNCT
ejge-8767	148	1	*	*	PUNCT
ejge-8767	148	2	*	*	PUNCT
ejge-8767	148	3	significant	significant	ADJ
ejge-8767	148	4	at	at	ADP
ejge-8767	148	5	5	5	NUM
ejge-8767	148	6	%	%	NOUN
ejge-8767	148	7	and	and	CCONJ
ejge-8767	148	8	*	*	NOUN
ejge-8767	148	9	*	*	PUNCT
ejge-8767	148	10	*	*	PUNCT
ejge-8767	148	11	significant	significant	ADJ
ejge-8767	148	12	at	at	ADP
ejge-8767	148	13	1	1	NUM
ejge-8767	148	14	%	%	NOUN
ejge-8767	148	15	.	.	PUNCT
ejge-8767	149	1	renato	renato	PROPN
ejge-8767	149	2	correia	correia	PROPN
ejge-8767	149	3	-	-	PUNCT
ejge-8767	149	4	domingues	domingue	NOUN
ejge-8767	149	5	et	et	PROPN
ejge-8767	149	6	al	al	PROPN
ejge-8767	149	7	.	.	PUNCT
ejge-8767	149	8	/	/	SYM
ejge-8767	149	9	european	european	PROPN
ejge-8767	149	10	journal	journal	PROPN
ejge-8767	149	11	of	of	ADP
ejge-8767	149	12	government	government	NOUN
ejge-8767	149	13	and	and	CCONJ
ejge-8767	149	14	economics	economic	NOUN
ejge-8767	149	15	11(1	11(1	NUM
ejge-8767	149	16	)	)	PUNCT
ejge-8767	149	17	,	,	PUNCT
ejge-8767	149	18	june	june	PROPN
ejge-8767	149	19	2022	2022	NUM
ejge-8767	149	20	,	,	PUNCT
ejge-8767	149	21	31	31	NUM
ejge-8767	149	22	-	-	SYM
ejge-8767	149	23	50	50	NUM
ejge-8767	149	24	40	40	NUM
ejge-8767	149	25	table	table	NOUN
ejge-8767	149	26	3	3	NUM
ejge-8767	149	27	.	.	PUNCT
ejge-8767	149	28	regression	regression	NOUN
ejge-8767	149	29	of	of	ADP
ejge-8767	149	30	panel	panel	NOUN
ejge-8767	149	31	data	datum	NOUN
ejge-8767	149	32	,	,	PUNCT
ejge-8767	149	33	of	of	ADP
ejge-8767	149	34	the	the	DET
ejge-8767	149	35	expense	expense	NOUN
ejge-8767	149	36	ratio	ratio	NOUN
ejge-8767	149	37	(	(	PUNCT
ejge-8767	149	38	t-3	t-3	NOUN
ejge-8767	149	39	)	)	PUNCT
ejge-8767	149	40	of	of	ADP
ejge-8767	149	41	funds	fund	NOUN
ejge-8767	149	42	with	with	ADP
ejge-8767	149	43	respect	respect	NOUN
ejge-8767	149	44	to	to	ADP
ejge-8767	149	45	their	their	PRON
ejge-8767	149	46	performance	performance	NOUN
ejge-8767	149	47	,	,	PUNCT
ejge-8767	149	48	with	with	ADP
ejge-8767	149	49	random	random	ADJ
ejge-8767	149	50	effects	effect	NOUN
ejge-8767	149	51	.	.	PUNCT
ejge-8767	150	1	variable	variable	ADJ
ejge-8767	150	2	alfa	alfa	PROPN
ejge-8767	150	3	sharpe	sharpe	PROPN
ejge-8767	150	4	sortino	sortino	PROPN
ejge-8767	150	5	annual	annual	PROPN
ejge-8767	150	6	return	return	VERB
ejge-8767	150	7	net	net	ADJ
ejge-8767	150	8	expenses(t-3	expenses(t-3	NOUN
ejge-8767	150	9	)	)	PUNCT
ejge-8767	150	10	-0.0477	-0.0477	NOUN
ejge-8767	150	11	*	*	PUNCT
ejge-8767	150	12	*	*	PUNCT
ejge-8767	150	13	*	*	PUNCT
ejge-8767	150	14	-0.0258	-0.0258	PROPN
ejge-8767	150	15	*	*	PUNCT
ejge-8767	150	16	*	*	PUNCT
ejge-8767	150	17	*	*	PUNCT
ejge-8767	150	18	-0.0394	-0.0394	NOUN
ejge-8767	150	19	*	*	PUNCT
ejge-8767	150	20	*	*	PUNCT
ejge-8767	150	21	-0.5287	-0.5287	PUNCT
ejge-8767	151	1	*	*	PUNCT
ejge-8767	151	2	*	*	PUNCT
ejge-8767	151	3	*	*	PROPN
ejge-8767	151	4	tenure	tenure	NOUN
ejge-8767	151	5	(	(	PUNCT
ejge-8767	151	6	t-3	t-3	NOUN
ejge-8767	151	7	)	)	PUNCT
ejge-8767	151	8	-0.0001	-0.0001	NOUN
ejge-8767	151	9	-0.0012	-0.0012	PROPN
ejge-8767	151	10	-0.0029	-0.0029	PROPN
ejge-8767	151	11	-0.0200	-0.0200	PUNCT
ejge-8767	152	1	net	net	ADJ
ejge-8767	152	2	assets	asset	NOUN
ejge-8767	152	3	(	(	PUNCT
ejge-8767	152	4	t-3	t-3	NUM
ejge-8767	152	5	)	)	PUNCT
ejge-8767	152	6	0.0097	0.0097	NUM
ejge-8767	152	7	-0.0100	-0.0100	NOUN
ejge-8767	152	8	*	*	PUNCT
ejge-8767	152	9	*	*	PUNCT
ejge-8767	152	10	-0.0074	-0.0074	NOUN
ejge-8767	152	11	0.0915	0.0915	NUM
ejge-8767	152	12	funds	fund	NOUN
ejge-8767	152	13	years(t-3	years(t-3	NOUN
ejge-8767	152	14	)	)	PUNCT
ejge-8767	152	15	0.0002	0.0002	NUM
ejge-8767	152	16	-0.0029	-0.0029	NOUN
ejge-8767	152	17	-0.0068	-0.0068	PROPN
ejge-8767	152	18	*	*	PUNCT
ejge-8767	152	19	-0.0439	-0.0439	NOUN
ejge-8767	152	20	*	*	PUNCT
ejge-8767	152	21	flexcap	flexcap	PROPN
ejge-8767	152	22	0.1173	0.1173	PROPN
ejge-8767	152	23	-0.0062	-0.0062	PROPN
ejge-8767	152	24	0.0157	0.0157	NUM
ejge-8767	152	25	-0.1748	-0.1748	NOUN
ejge-8767	152	26	largecap	largecap	NOUN
ejge-8767	152	27	0.1412	0.1412	NUM
ejge-8767	152	28	-0.0422	-0.0422	NOUN
ejge-8767	152	29	-0.1100	-0.1100	PROPN
ejge-8767	152	30	-0.9987	-0.9987	PROPN
ejge-8767	152	31	midcap	midcap	NOUN
ejge-8767	152	32	0.0296	0.0296	NUM
ejge-8767	152	33	0.2375	0.2375	NUM
ejge-8767	152	34	*	*	PUNCT
ejge-8767	152	35	*	*	PUNCT
ejge-8767	152	36	0.4300	0.4300	NUM
ejge-8767	152	37	*	*	PUNCT
ejge-8767	152	38	*	*	PUNCT
ejge-8767	152	39	2.7538	2.7538	NUM
ejge-8767	152	40	*	*	PUNCT
ejge-8767	152	41	smallcap	smallcap	NOUN
ejge-8767	152	42	0.2878	0.2878	NUM
ejge-8767	152	43	*	*	SYM
ejge-8767	152	44	*	*	PUNCT
ejge-8767	152	45	0.2125	0.2125	NUM
ejge-8767	152	46	*	*	PUNCT
ejge-8767	152	47	*	*	PUNCT
ejge-8767	152	48	0.3142	0.3142	NUM
ejge-8767	152	49	3.7286	3.7286	NUM
ejge-8767	152	50	*	*	PUNCT
ejge-8767	152	51	*	*	PUNCT
ejge-8767	152	52	*	*	PUNCT
ejge-8767	152	53	constant	constant	ADJ
ejge-8767	152	54	0.2764	0.2764	NUM
ejge-8767	152	55	1.5384	1.5384	NUM
ejge-8767	152	56	*	*	PUNCT
ejge-8767	152	57	*	*	PUNCT
ejge-8767	152	58	*	*	PUNCT
ejge-8767	152	59	2.6899	2.6899	NUM
ejge-8767	152	60	*	*	PUNCT
ejge-8767	152	61	*	*	PUNCT
ejge-8767	152	62	*	*	PUNCT
ejge-8767	152	63	3.6384	3.6384	NUM
ejge-8767	152	64	*	*	SYM
ejge-8767	152	65	n	n	NUM
ejge-8767	152	66	1154	1154	NUM
ejge-8767	152	67	1163	1163	NUM
ejge-8767	152	68	1163	1163	NUM
ejge-8767	152	69	1163	1163	NUM
ejge-8767	152	70	r2_w	r2_w	NOUN
ejge-8767	152	71	0.7487	0.7487	NOUN
ejge-8767	152	72	0.9413	0.9413	NUM
ejge-8767	152	73	0.9066	0.9066	NUM
ejge-8767	152	74	0.9232	0.9232	NUM
ejge-8767	152	75	table	table	NOUN
ejge-8767	152	76	4	4	NUM
ejge-8767	152	77	.	.	PUNCT
ejge-8767	152	78	regression	regression	NOUN
ejge-8767	152	79	in	in	ADP
ejge-8767	152	80	the	the	DET
ejge-8767	152	81	panel	panel	NOUN
ejge-8767	152	82	data	datum	NOUN
ejge-8767	152	83	,	,	PUNCT
ejge-8767	152	84	of	of	ADP
ejge-8767	152	85	the	the	DET
ejge-8767	152	86	expense	expense	NOUN
ejge-8767	152	87	ratio	ratio	NOUN
ejge-8767	152	88	(	(	PUNCT
ejge-8767	152	89	t-3	t-3	NOUN
ejge-8767	152	90	)	)	PUNCT
ejge-8767	152	91	of	of	ADP
ejge-8767	152	92	the	the	DET
ejge-8767	152	93	funds	fund	NOUN
ejge-8767	152	94	with	with	ADP
ejge-8767	152	95	respect	respect	NOUN
ejge-8767	152	96	to	to	ADP
ejge-8767	152	97	their	their	PRON
ejge-8767	152	98	performance	performance	NOUN
ejge-8767	152	99	with	with	ADP
ejge-8767	152	100	star	star	NOUN
ejge-8767	152	101	rating	rating	NOUN
ejge-8767	152	102	control	control	NOUN
ejge-8767	152	103	variables	variable	NOUN
ejge-8767	152	104	(	(	PUNCT
ejge-8767	152	105	t-3	t-3	NOUN
ejge-8767	152	106	)	)	PUNCT
ejge-8767	152	107	,	,	PUNCT
ejge-8767	152	108	with	with	ADP
ejge-8767	152	109	random	random	ADJ
ejge-8767	152	110	effects	effect	NOUN
ejge-8767	152	111	.	.	PUNCT
ejge-8767	153	1	variable	variable	ADJ
ejge-8767	153	2	alpha	alpha	PROPN
ejge-8767	153	3	sharpe	sharpe	PROPN
ejge-8767	153	4	sortino	sortino	PROPN
ejge-8767	153	5	annual	annual	ADJ
ejge-8767	153	6	return	return	VERB
ejge-8767	153	7	net	net	ADJ
ejge-8767	153	8	expenses	expense	NOUN
ejge-8767	153	9	(	(	PUNCT
ejge-8767	153	10	t-3	t-3	NOUN
ejge-8767	153	11	)	)	PUNCT
ejge-8767	153	12	-0.0555	-0.0555	NOUN
ejge-8767	153	13	*	*	PUNCT
ejge-8767	154	1	*	*	PUNCT
ejge-8767	154	2	*	*	PUNCT
ejge-8767	154	3	-0.0374	-0.0374	PUNCT
ejge-8767	154	4	*	*	PUNCT
ejge-8767	154	5	*	*	PUNCT
ejge-8767	154	6	*	*	NOUN
ejge-8767	154	7	-0.0651	-0.0651	ADJ
ejge-8767	154	8	*	*	PUNCT
ejge-8767	154	9	*	*	PUNCT
ejge-8767	154	10	*	*	PUNCT
ejge-8767	154	11	-0.5939	-0.5939	NOUN
ejge-8767	155	1	*	*	PUNCT
ejge-8767	155	2	*	*	PUNCT
ejge-8767	155	3	*	*	PROPN
ejge-8767	155	4	tenure	tenure	NOUN
ejge-8767	155	5	(	(	PUNCT
ejge-8767	155	6	t-3	t-3	NUM
ejge-8767	155	7	)	)	PUNCT
ejge-8767	155	8	0.0004	0.0004	NUM
ejge-8767	155	9	-0.0013	-0.0013	PUNCT
ejge-8767	155	10	-0.0037	-0.0037	NOUN
ejge-8767	155	11	-0.0389	-0.0389	NOUN
ejge-8767	155	12	net	net	ADJ
ejge-8767	155	13	assets	asset	NOUN
ejge-8767	155	14	(	(	PUNCT
ejge-8767	155	15	t-3	t-3	NOUN
ejge-8767	155	16	)	)	PUNCT
ejge-8767	155	17	0.0156	0.0156	NUM
ejge-8767	155	18	-0.0115	-0.0115	NOUN
ejge-8767	155	19	*	*	PUNCT
ejge-8767	155	20	*	*	PUNCT
ejge-8767	155	21	-0.0056	-0.0056	X
ejge-8767	155	22	0.0940	0.0940	NUM
ejge-8767	155	23	funds	fund	NOUN
ejge-8767	155	24	years	year	NOUN
ejge-8767	155	25	(	(	PUNCT
ejge-8767	155	26	t-3	t-3	NUM
ejge-8767	155	27	)	)	PUNCT
ejge-8767	155	28	0.0019	0.0019	NUM
ejge-8767	155	29	-0.0022	-0.0022	NOUN
ejge-8767	155	30	-0.0041	-0.0041	NOUN
ejge-8767	155	31	-0.0144	-0.0144	PROPN
ejge-8767	155	32	1	1	NUM
ejge-8767	155	33	star	star	NOUN
ejge-8767	155	34	(	(	PUNCT
ejge-8767	155	35	t-3	t-3	NOUN
ejge-8767	155	36	)	)	PUNCT
ejge-8767	155	37	-0.0480	-0.0480	NOUN
ejge-8767	155	38	-0.0851	-0.0851	PROPN
ejge-8767	155	39	*	*	PUNCT
ejge-8767	155	40	*	*	PUNCT
ejge-8767	155	41	-0.3035	-0.3035	PROPN
ejge-8767	155	42	*	*	PUNCT
ejge-8767	155	43	*	*	PUNCT
ejge-8767	155	44	*	*	PUNCT
ejge-8767	155	45	-1.5617	-1.5617	PROPN
ejge-8767	155	46	*	*	ADJ
ejge-8767	155	47	2	2	NUM
ejge-8767	155	48	stars	star	NOUN
ejge-8767	155	49	(	(	PUNCT
ejge-8767	155	50	t-3	t-3	NOUN
ejge-8767	155	51	)	)	PUNCT
ejge-8767	155	52	-0.0947	-0.0947	NOUN
ejge-8767	155	53	-0.0175	-0.0175	PUNCT
ejge-8767	156	1	-0.1518	-0.1518	PROPN
ejge-8767	157	1	*	*	PUNCT
ejge-8767	157	2	*	*	PUNCT
ejge-8767	157	3	*	*	PUNCT
ejge-8767	157	4	-1.0800	-1.0800	ADJ
ejge-8767	157	5	3	3	NUM
ejge-8767	157	6	stars	star	NOUN
ejge-8767	157	7	(	(	PUNCT
ejge-8767	157	8	t-3	t-3	NOUN
ejge-8767	157	9	)	)	PUNCT
ejge-8767	157	10	-0.0243	-0.0243	PROPN
ejge-8767	158	1	-0.0210	-0.0210	PROPN
ejge-8767	158	2	-0.1263	-0.1263	PROPN
ejge-8767	159	1	*	*	PUNCT
ejge-8767	159	2	*	*	PUNCT
ejge-8767	159	3	-1.1791	-1.1791	PUNCT
ejge-8767	159	4	*	*	NOUN
ejge-8767	159	5	4	4	NUM
ejge-8767	159	6	stars	star	NOUN
ejge-8767	159	7	(	(	PUNCT
ejge-8767	159	8	t-3	t-3	NOUN
ejge-8767	159	9	)	)	PUNCT
ejge-8767	159	10	-0.0407	-0.0407	PROPN
ejge-8767	159	11	-0.0387	-0.0387	NOUN
ejge-8767	159	12	*	*	PUNCT
ejge-8767	160	1	-0.1219	-0.1219	PROPN
ejge-8767	160	2	*	*	PUNCT
ejge-8767	160	3	*	*	PUNCT
ejge-8767	160	4	-0.2052	-0.2052	PRON
ejge-8767	160	5	flexcap	flexcap	NOUN
ejge-8767	160	6	0.0750	0.0750	NUM
ejge-8767	160	7	0.0377	0.0377	NUM
ejge-8767	160	8	0.1047	0.1047	NUM
ejge-8767	160	9	-0.2923	-0.2923	NOUN
ejge-8767	160	10	largecap	largecap	NOUN
ejge-8767	160	11	0.0790	0.0790	NUM
ejge-8767	160	12	0.0449	0.0449	NUM
ejge-8767	160	13	0.0396	0.0396	NUM
ejge-8767	160	14	-0.8909	-0.8909	NOUN
ejge-8767	160	15	midcap	midcap	NOUN
ejge-8767	160	16	-0.0157	-0.0157	NOUN
ejge-8767	161	1	0.2455	0.2455	NUM
ejge-8767	161	2	*	*	PUNCT
ejge-8767	162	1	*	*	PUNCT
ejge-8767	162	2	0.3878	0.3878	NUM
ejge-8767	162	3	*	*	NUM
ejge-8767	162	4	2.0371	2.0371	NUM
ejge-8767	162	5	smallcap	smallcap	NOUN
ejge-8767	162	6	0.3006	0.3006	NUM
ejge-8767	162	7	*	*	PUNCT
ejge-8767	163	1	0.2934	0.2934	NUM
ejge-8767	163	2	*	*	PUNCT
ejge-8767	163	3	*	*	PUNCT
ejge-8767	163	4	*	*	PUNCT
ejge-8767	163	5	0.4884	0.4884	NUM
ejge-8767	163	6	*	*	PUNCT
ejge-8767	163	7	*	*	PUNCT
ejge-8767	163	8	3.0196	3.0196	NUM
ejge-8767	163	9	*	*	PUNCT
ejge-8767	163	10	constant	constant	ADJ
ejge-8767	163	11	0.2508	0.2508	NUM
ejge-8767	163	12	1.5205	1.5205	NUM
ejge-8767	163	13	*	*	PUNCT
ejge-8767	163	14	*	*	PUNCT
ejge-8767	163	15	*	*	PUNCT
ejge-8767	163	16	2.6476	2.6476	NUM
ejge-8767	163	17	*	*	PUNCT
ejge-8767	163	18	*	*	PUNCT
ejge-8767	163	19	*	*	PUNCT
ejge-8767	164	1	4.2060	4.2060	NUM
ejge-8767	164	2	n	n	PRON
ejge-8767	164	3	887	887	NUM
ejge-8767	164	4	895	895	NUM
ejge-8767	164	5	895	895	NUM
ejge-8767	164	6	895	895	NUM
ejge-8767	164	7	r2_w	r2_w	NOUN
ejge-8767	164	8	0.7607	0.7607	NUM
ejge-8767	164	9	0.9465	0.9465	NUM
ejge-8767	164	10	0.9107	0.9107	NUM
ejge-8767	164	11	0.9282	0.9282	NUM
ejge-8767	164	12	note	note	NOUN
ejge-8767	164	13	:	:	PUNCT
ejge-8767	164	14	stars	star	NOUN
ejge-8767	164	15	1	1	NUM
ejge-8767	164	16	,	,	PUNCT
ejge-8767	164	17	2	2	NUM
ejge-8767	164	18	,	,	PUNCT
ejge-8767	164	19	3	3	NUM
ejge-8767	164	20	,	,	PUNCT
ejge-8767	164	21	and	and	CCONJ
ejge-8767	164	22	4	4	NUM
ejge-8767	164	23	are	be	AUX
ejge-8767	164	24	morningstar	morningstar	NOUN
ejge-8767	164	25	's	's	PART
ejge-8767	164	26	quantitative	quantitative	ADJ
ejge-8767	164	27	ratings	rating	NOUN
ejge-8767	164	28	of	of	ADP
ejge-8767	164	29	1	1	NUM
ejge-8767	164	30	,	,	PUNCT
ejge-8767	164	31	2	2	NUM
ejge-8767	164	32	,	,	PUNCT
ejge-8767	164	33	3	3	NUM
ejge-8767	164	34	,	,	PUNCT
ejge-8767	164	35	and	and	CCONJ
ejge-8767	164	36	4	4	NUM
ejge-8767	164	37	stars	star	NOUN
ejge-8767	164	38	respectively	respectively	ADV
ejge-8767	164	39	.	.	PUNCT
ejge-8767	164	40	table	table	NOUN
ejge-8767	164	41	4	4	NUM
ejge-8767	164	42	shows	show	VERB
ejge-8767	164	43	the	the	DET
ejge-8767	164	44	relationship	relationship	NOUN
ejge-8767	164	45	between	between	ADP
ejge-8767	164	46	expenses	expense	NOUN
ejge-8767	164	47	and	and	CCONJ
ejge-8767	164	48	performance	performance	NOUN
ejge-8767	164	49	,	,	PUNCT
ejge-8767	164	50	using	use	VERB
ejge-8767	164	51	morningstar	morningstar	NOUN
ejge-8767	164	52	ratings	rating	NOUN
ejge-8767	164	53	as	as	ADP
ejge-8767	164	54	a	a	DET
ejge-8767	164	55	control	control	NOUN
ejge-8767	164	56	variable	variable	NOUN
ejge-8767	164	57	.	.	PUNCT
ejge-8767	165	1	all	all	DET
ejge-8767	165	2	variables	variable	NOUN
ejge-8767	165	3	are	be	AUX
ejge-8767	165	4	lagged	lag	VERB
ejge-8767	165	5	for	for	ADP
ejge-8767	165	6	3	3	NUM
ejge-8767	165	7	years	year	NOUN
ejge-8767	165	8	.	.	PUNCT
ejge-8767	166	1	it	it	PRON
ejge-8767	166	2	turns	turn	VERB
ejge-8767	166	3	out	out	ADP
ejge-8767	166	4	that	that	SCONJ
ejge-8767	166	5	,	,	PUNCT
ejge-8767	166	6	in	in	ADP
ejge-8767	166	7	the	the	DET
ejge-8767	166	8	long	long	ADJ
ejge-8767	166	9	term	term	NOUN
ejge-8767	166	10	(	(	PUNCT
ejge-8767	166	11	3	3	NUM
ejge-8767	166	12	years	year	NOUN
ejge-8767	166	13	)	)	PUNCT
ejge-8767	166	14	,	,	PUNCT
ejge-8767	166	15	the	the	DET
ejge-8767	166	16	expenses	expense	NOUN
ejge-8767	166	17	are	be	AUX
ejge-8767	166	18	effective	effective	ADJ
ejge-8767	166	19	in	in	ADP
ejge-8767	166	20	predicting	predict	VERB
ejge-8767	166	21	future	future	ADJ
ejge-8767	166	22	performance	performance	NOUN
ejge-8767	166	23	for	for	ADP
ejge-8767	166	24	all	all	DET
ejge-8767	166	25	metrics	metric	NOUN
ejge-8767	166	26	,	,	PUNCT
ejge-8767	166	27	even	even	ADV
ejge-8767	166	28	incorporating	incorporate	VERB
ejge-8767	166	29	the	the	DET
ejge-8767	166	30	morningstar	morningstar	NOUN
ejge-8767	166	31	ratings	rating	NOUN
ejge-8767	166	32	.	.	PUNCT
ejge-8767	167	1	annex	annex	VERB
ejge-8767	167	2	2	2	NUM
ejge-8767	167	3	shows	show	VERB
ejge-8767	167	4	the	the	DET
ejge-8767	167	5	relationship	relationship	NOUN
ejge-8767	167	6	between	between	ADP
ejge-8767	167	7	expenses	expense	NOUN
ejge-8767	167	8	for	for	ADP
ejge-8767	167	9	the	the	DET
ejge-8767	167	10	year	year	NOUN
ejge-8767	167	11	itself	itself	PRON
ejge-8767	167	12	,	,	PUNCT
ejge-8767	167	13	and	and	CCONJ
ejge-8767	167	14	performance	performance	NOUN
ejge-8767	167	15	taking	take	VERB
ejge-8767	167	16	into	into	ADP
ejge-8767	167	17	account	account	NOUN
ejge-8767	167	18	the	the	DET
ejge-8767	167	19	information	information	NOUN
ejge-8767	167	20	on	on	ADP
ejge-8767	167	21	the	the	DET
ejge-8767	167	22	rating	rating	NOUN
ejge-8767	167	23	of	of	ADP
ejge-8767	167	24	a	a	DET
ejge-8767	167	25	fund	fund	NOUN
ejge-8767	167	26	that	that	PRON
ejge-8767	167	27	we	we	PRON
ejge-8767	167	28	knew	know	VERB
ejge-8767	167	29	in	in	ADP
ejge-8767	167	30	the	the	DET
ejge-8767	167	31	previous	previous	ADJ
ejge-8767	167	32	period	period	NOUN
ejge-8767	167	33	(	(	PUNCT
ejge-8767	167	34	t-1	t-1	PROPN
ejge-8767	167	35	)	)	PUNCT
ejge-8767	167	36	.	.	PUNCT
ejge-8767	168	1	renato	renato	PROPN
ejge-8767	168	2	correia	correia	PROPN
ejge-8767	168	3	-	-	PUNCT
ejge-8767	168	4	domingues	domingue	NOUN
ejge-8767	168	5	et	et	PROPN
ejge-8767	168	6	al	al	PROPN
ejge-8767	168	7	.	.	PUNCT
ejge-8767	168	8	/	/	SYM
ejge-8767	168	9	european	european	PROPN
ejge-8767	168	10	journal	journal	PROPN
ejge-8767	168	11	of	of	ADP
ejge-8767	168	12	government	government	NOUN
ejge-8767	168	13	and	and	CCONJ
ejge-8767	168	14	economics	economic	NOUN
ejge-8767	168	15	11(1	11(1	NUM
ejge-8767	168	16	)	)	PUNCT
ejge-8767	168	17	,	,	PUNCT
ejge-8767	168	18	june	june	PROPN
ejge-8767	168	19	2022	2022	NUM
ejge-8767	168	20	,	,	PUNCT
ejge-8767	168	21	31	31	NUM
ejge-8767	168	22	-	-	SYM
ejge-8767	168	23	50	50	NUM
ejge-8767	168	24	41	41	NUM
ejge-8767	168	25	we	we	PRON
ejge-8767	168	26	can	can	AUX
ejge-8767	168	27	see	see	VERB
ejge-8767	168	28	a	a	DET
ejge-8767	168	29	negative	negative	ADJ
ejge-8767	168	30	relationship	relationship	NOUN
ejge-8767	168	31	between	between	ADP
ejge-8767	168	32	the	the	DET
ejge-8767	168	33	fund	fund	NOUN
ejge-8767	168	34	's	's	PART
ejge-8767	168	35	expenses	expense	NOUN
ejge-8767	168	36	and	and	CCONJ
ejge-8767	168	37	its	its	PRON
ejge-8767	168	38	future	future	ADJ
ejge-8767	168	39	performance	performance	NOUN
ejge-8767	168	40	for	for	ADP
ejge-8767	168	41	the	the	DET
ejge-8767	168	42	performance	performance	NOUN
ejge-8767	168	43	measures	measure	NOUN
ejge-8767	168	44	of	of	ADP
ejge-8767	168	45	alfa	alfa	PROPN
ejge-8767	168	46	,	,	PUNCT
ejge-8767	168	47	sharpe	sharpe	PROPN
ejge-8767	168	48	and	and	CCONJ
ejge-8767	168	49	sortino	sortino	NOUN
ejge-8767	168	50	,	,	PUNCT
ejge-8767	168	51	although	although	SCONJ
ejge-8767	168	52	it	it	PRON
ejge-8767	168	53	is	be	AUX
ejge-8767	168	54	positive	positive	ADJ
ejge-8767	168	55	and	and	CCONJ
ejge-8767	168	56	significant	significant	ADJ
ejge-8767	168	57	for	for	ADP
ejge-8767	168	58	the	the	DET
ejge-8767	168	59	annual	annual	ADJ
ejge-8767	168	60	net	net	ADJ
ejge-8767	168	61	return	return	NOUN
ejge-8767	168	62	.	.	PUNCT
ejge-8767	169	1	this	this	PRON
ejge-8767	169	2	means	mean	VERB
ejge-8767	169	3	that	that	SCONJ
ejge-8767	169	4	when	when	SCONJ
ejge-8767	169	5	we	we	PRON
ejge-8767	169	6	use	use	VERB
ejge-8767	169	7	ratings	rating	NOUN
ejge-8767	169	8	in	in	ADP
ejge-8767	169	9	the	the	DET
ejge-8767	169	10	model	model	NOUN
ejge-8767	169	11	,	,	PUNCT
ejge-8767	169	12	the	the	DET
ejge-8767	169	13	ability	ability	NOUN
ejge-8767	169	14	of	of	ADP
ejge-8767	169	15	expenses	expense	NOUN
ejge-8767	169	16	to	to	PART
ejge-8767	169	17	predict	predict	VERB
ejge-8767	169	18	performance	performance	NOUN
ejge-8767	169	19	is	be	AUX
ejge-8767	169	20	lost	lose	VERB
ejge-8767	169	21	,	,	PUNCT
ejge-8767	169	22	since	since	SCONJ
ejge-8767	169	23	ratings	rating	NOUN
ejge-8767	169	24	absorb	absorb	VERB
ejge-8767	169	25	some	some	PRON
ejge-8767	169	26	of	of	ADP
ejge-8767	169	27	that	that	DET
ejge-8767	169	28	predictive	predictive	ADJ
ejge-8767	169	29	power	power	NOUN
ejge-8767	169	30	.	.	PUNCT
ejge-8767	170	1	which	which	PRON
ejge-8767	170	2	means	mean	VERB
ejge-8767	170	3	that	that	SCONJ
ejge-8767	170	4	ratings	rating	NOUN
ejge-8767	170	5	help	help	VERB
ejge-8767	170	6	us	we	PRON
ejge-8767	170	7	predict	predict	VERB
ejge-8767	170	8	performance	performance	NOUN
ejge-8767	170	9	and	and	CCONJ
ejge-8767	170	10	virtually	virtually	ADV
ejge-8767	170	11	eliminate	eliminate	VERB
ejge-8767	170	12	the	the	DET
ejge-8767	170	13	predictive	predictive	ADJ
ejge-8767	170	14	power	power	NOUN
ejge-8767	170	15	of	of	ADP
ejge-8767	170	16	expenses	expense	NOUN
ejge-8767	170	17	.	.	PUNCT
ejge-8767	171	1	annex	annex	VERB
ejge-8767	171	2	3	3	NUM
ejge-8767	171	3	shows	show	VERB
ejge-8767	171	4	the	the	DET
ejge-8767	171	5	relationship	relationship	NOUN
ejge-8767	171	6	between	between	ADP
ejge-8767	171	7	the	the	DET
ejge-8767	171	8	expense	expense	NOUN
ejge-8767	171	9	ratio	ratio	NOUN
ejge-8767	171	10	from	from	ADP
ejge-8767	171	11	a	a	DET
ejge-8767	171	12	year	year	NOUN
ejge-8767	171	13	ago	ago	ADV
ejge-8767	171	14	,	,	PUNCT
ejge-8767	171	15	and	and	CCONJ
ejge-8767	171	16	performance	performance	NOUN
ejge-8767	171	17	.	.	PUNCT
ejge-8767	172	1	we	we	PRON
ejge-8767	172	2	can	can	AUX
ejge-8767	172	3	see	see	VERB
ejge-8767	172	4	a	a	DET
ejge-8767	172	5	negative	negative	ADJ
ejge-8767	172	6	relationship	relationship	NOUN
ejge-8767	172	7	between	between	ADP
ejge-8767	172	8	the	the	DET
ejge-8767	172	9	fund	fund	NOUN
ejge-8767	172	10	's	's	PART
ejge-8767	172	11	expenses	expense	NOUN
ejge-8767	172	12	and	and	CCONJ
ejge-8767	172	13	its	its	PRON
ejge-8767	172	14	future	future	ADJ
ejge-8767	172	15	performance	performance	NOUN
ejge-8767	172	16	for	for	ADP
ejge-8767	172	17	all	all	DET
ejge-8767	172	18	risk	risk	NOUN
ejge-8767	172	19	-	-	PUNCT
ejge-8767	172	20	adjusted	adjust	VERB
ejge-8767	172	21	performance	performance	NOUN
ejge-8767	172	22	measures	measure	NOUN
ejge-8767	172	23	.	.	PUNCT
ejge-8767	173	1	this	this	PRON
ejge-8767	173	2	means	mean	VERB
ejge-8767	173	3	that	that	SCONJ
ejge-8767	173	4	when	when	SCONJ
ejge-8767	173	5	we	we	PRON
ejge-8767	173	6	use	use	VERB
ejge-8767	173	7	the	the	DET
ejge-8767	173	8	stars	star	NOUN
ejge-8767	173	9	(	(	PUNCT
ejge-8767	173	10	ratings	rating	NOUN
ejge-8767	173	11	)	)	PUNCT
ejge-8767	173	12	in	in	ADP
ejge-8767	173	13	the	the	DET
ejge-8767	173	14	model	model	NOUN
ejge-8767	173	15	,	,	PUNCT
ejge-8767	173	16	the	the	DET
ejge-8767	173	17	ability	ability	NOUN
ejge-8767	173	18	of	of	ADP
ejge-8767	173	19	expenses	expense	NOUN
ejge-8767	173	20	to	to	PART
ejge-8767	173	21	predict	predict	VERB
ejge-8767	173	22	the	the	DET
ejge-8767	173	23	risk	risk	NOUN
ejge-8767	173	24	-	-	PUNCT
ejge-8767	173	25	adjusted	adjust	VERB
ejge-8767	173	26	return	return	NOUN
ejge-8767	173	27	(	(	PUNCT
ejge-8767	173	28	sharpe	sharpe	NOUN
ejge-8767	173	29	and	and	CCONJ
ejge-8767	173	30	sortino	sortino	NOUN
ejge-8767	173	31	)	)	PUNCT
ejge-8767	173	32	at	at	ADP
ejge-8767	173	33	1	1	NUM
ejge-8767	173	34	year	year	NOUN
ejge-8767	173	35	is	be	AUX
ejge-8767	173	36	lost	lose	VERB
ejge-8767	173	37	,	,	PUNCT
ejge-8767	173	38	since	since	SCONJ
ejge-8767	173	39	the	the	DET
ejge-8767	173	40	ratings	rating	NOUN
ejge-8767	173	41	absorb	absorb	VERB
ejge-8767	173	42	part	part	NOUN
ejge-8767	173	43	of	of	ADP
ejge-8767	173	44	that	that	DET
ejge-8767	173	45	predictive	predictive	ADJ
ejge-8767	173	46	power	power	NOUN
ejge-8767	173	47	.	.	PUNCT
ejge-8767	174	1	still	still	ADV
ejge-8767	174	2	,	,	PUNCT
ejge-8767	174	3	expenses	expense	NOUN
ejge-8767	174	4	can	can	AUX
ejge-8767	174	5	help	help	VERB
ejge-8767	174	6	predict	predict	VERB
ejge-8767	174	7	performance	performance	NOUN
ejge-8767	174	8	for	for	ADP
ejge-8767	174	9	alpha	alpha	ADJ
ejge-8767	174	10	4	4	NUM
ejge-8767	174	11	-	-	PUNCT
ejge-8767	174	12	factor	factor	NOUN
ejge-8767	174	13	adjusted	adjust	VERB
ejge-8767	174	14	returns	return	NOUN
ejge-8767	174	15	and	and	CCONJ
ejge-8767	174	16	net	net	ADJ
ejge-8767	174	17	returns.in	returns.in	NUM
ejge-8767	174	18	table	table	NOUN
ejge-8767	174	19	5	5	NUM
ejge-8767	174	20	we	we	PRON
ejge-8767	174	21	show	show	VERB
ejge-8767	174	22	the	the	DET
ejge-8767	174	23	results	result	NOUN
ejge-8767	174	24	of	of	ADP
ejge-8767	174	25	the	the	DET
ejge-8767	174	26	quantile	quantile	ADJ
ejge-8767	174	27	regression	regression	NOUN
ejge-8767	174	28	models	model	NOUN
ejge-8767	174	29	,	,	PUNCT
ejge-8767	174	30	which	which	PRON
ejge-8767	174	31	allow	allow	VERB
ejge-8767	174	32	estimating	estimate	VERB
ejge-8767	174	33	heterogeneous	heterogeneous	ADJ
ejge-8767	174	34	behaviours	behaviour	NOUN
ejge-8767	174	35	according	accord	VERB
ejge-8767	174	36	to	to	ADP
ejge-8767	174	37	different	different	ADJ
ejge-8767	174	38	levels	level	NOUN
ejge-8767	174	39	(	(	PUNCT
ejge-8767	174	40	quantiles	quantile	NOUN
ejge-8767	174	41	)	)	PUNCT
ejge-8767	174	42	of	of	ADP
ejge-8767	174	43	the	the	DET
ejge-8767	174	44	dependent	dependent	ADJ
ejge-8767	174	45	variable	variable	NOUN
ejge-8767	174	46	.	.	PUNCT
ejge-8767	175	1	quantile	quantile	PROPN
ejge-8767	175	2	0,25	0,25	NOUN
ejge-8767	175	3	,	,	PUNCT
ejge-8767	175	4	median	median	ADJ
ejge-8767	175	5	and	and	CCONJ
ejge-8767	175	6	quantile	quantile	ADJ
ejge-8767	175	7	0,75	0,75	NOUN
ejge-8767	175	8	(	(	PUNCT
ejge-8767	175	9	q25	q25	NOUN
ejge-8767	175	10	,	,	PUNCT
ejge-8767	175	11	q50	q50	NOUN
ejge-8767	175	12	,	,	PUNCT
ejge-8767	175	13	q75	q75	PROPN
ejge-8767	175	14	)	)	PUNCT
ejge-8767	175	15	were	be	AUX
ejge-8767	175	16	used	use	VERB
ejge-8767	175	17	,	,	PUNCT
ejge-8767	175	18	observing	observe	VERB
ejge-8767	175	19	that	that	SCONJ
ejge-8767	175	20	there	there	PRON
ejge-8767	175	21	is	be	VERB
ejge-8767	175	22	a	a	DET
ejge-8767	175	23	negative	negative	ADJ
ejge-8767	175	24	relationship	relationship	NOUN
ejge-8767	175	25	between	between	ADP
ejge-8767	175	26	performance	performance	NOUN
ejge-8767	175	27	and	and	CCONJ
ejge-8767	175	28	the	the	DET
ejge-8767	175	29	level	level	NOUN
ejge-8767	175	30	of	of	ADP
ejge-8767	175	31	expenditure	expenditure	NOUN
ejge-8767	175	32	for	for	ADP
ejge-8767	175	33	all	all	DET
ejge-8767	175	34	risk	risk	NOUN
ejge-8767	175	35	-	-	PUNCT
ejge-8767	175	36	adjusted	adjust	VERB
ejge-8767	175	37	measures	measure	NOUN
ejge-8767	175	38	and	and	CCONJ
ejge-8767	175	39	the	the	DET
ejge-8767	175	40	gross	gross	ADJ
ejge-8767	175	41	annual	annual	ADJ
ejge-8767	175	42	return	return	NOUN
ejge-8767	175	43	for	for	ADP
ejge-8767	175	44	quantiles	quantile	NOUN
ejge-8767	175	45	0.25	0.25	NUM
ejge-8767	175	46	and	and	CCONJ
ejge-8767	175	47	0.5	0.5	NUM
ejge-8767	175	48	.	.	PUNCT
ejge-8767	176	1	however	however	ADV
ejge-8767	176	2	,	,	PUNCT
ejge-8767	176	3	in	in	ADP
ejge-8767	176	4	the	the	DET
ejge-8767	176	5	0.75	0.75	NUM
ejge-8767	176	6	quantile	quantile	NOUN
ejge-8767	176	7	the	the	DET
ejge-8767	176	8	situation	situation	NOUN
ejge-8767	176	9	is	be	AUX
ejge-8767	176	10	different	different	ADJ
ejge-8767	176	11	,	,	PUNCT
ejge-8767	176	12	with	with	ADP
ejge-8767	176	13	a	a	DET
ejge-8767	176	14	positive	positive	ADJ
ejge-8767	176	15	relationship	relationship	NOUN
ejge-8767	176	16	between	between	ADP
ejge-8767	176	17	performance	performance	NOUN
ejge-8767	176	18	and	and	CCONJ
ejge-8767	176	19	the	the	DET
ejge-8767	176	20	level	level	NOUN
ejge-8767	176	21	of	of	ADP
ejge-8767	176	22	spending	spending	NOUN
ejge-8767	176	23	.	.	PUNCT
ejge-8767	177	1	this	this	PRON
ejge-8767	177	2	means	mean	VERB
ejge-8767	177	3	that	that	SCONJ
ejge-8767	177	4	in	in	ADP
ejge-8767	177	5	the	the	DET
ejge-8767	177	6	best	good	ADJ
ejge-8767	177	7	funds	fund	NOUN
ejge-8767	177	8	,	,	PUNCT
ejge-8767	177	9	the	the	PRON
ejge-8767	177	10	higher	high	ADJ
ejge-8767	177	11	the	the	DET
ejge-8767	177	12	expenses	expense	NOUN
ejge-8767	177	13	,	,	PUNCT
ejge-8767	177	14	the	the	DET
ejge-8767	177	15	better	well	ADJ
ejge-8767	177	16	is	be	AUX
ejge-8767	177	17	your	your	PRON
ejge-8767	177	18	performance	performance	NOUN
ejge-8767	177	19	.	.	PUNCT
ejge-8767	178	1	this	this	DET
ejge-8767	178	2	result	result	NOUN
ejge-8767	178	3	is	be	AUX
ejge-8767	178	4	consistent	consistent	ADJ
ejge-8767	178	5	with	with	ADP
ejge-8767	178	6	livingston	livingston	PROPN
ejge-8767	178	7	,	,	PUNCT
ejge-8767	178	8	yao	yao	PROPN
ejge-8767	178	9	and	and	CCONJ
ejge-8767	178	10	zhou	zhou	PROPN
ejge-8767	178	11	(	(	PUNCT
ejge-8767	178	12	2019	2019	NUM
ejge-8767	178	13	)	)	PUNCT
ejge-8767	178	14	who	who	PRON
ejge-8767	178	15	also	also	ADV
ejge-8767	178	16	,	,	PUNCT
ejge-8767	178	17	through	through	ADP
ejge-8767	178	18	quantile	quantile	ADJ
ejge-8767	178	19	regression	regression	NOUN
ejge-8767	178	20	techniques	technique	NOUN
ejge-8767	178	21	,	,	PUNCT
ejge-8767	178	22	showed	show	VERB
ejge-8767	178	23	that	that	SCONJ
ejge-8767	178	24	funds	fund	NOUN
ejge-8767	178	25	with	with	ADP
ejge-8767	178	26	a	a	DET
ejge-8767	178	27	higher	high	ADJ
ejge-8767	178	28	level	level	NOUN
ejge-8767	178	29	of	of	ADP
ejge-8767	178	30	expenses	expense	NOUN
ejge-8767	178	31	have	have	VERB
ejge-8767	178	32	greater	great	ADJ
ejge-8767	178	33	volatility	volatility	NOUN
ejge-8767	178	34	in	in	ADP
ejge-8767	178	35	performance	performance	NOUN
ejge-8767	178	36	.	.	PUNCT
ejge-8767	179	1	in	in	ADP
ejge-8767	179	2	annex	annex	NOUN
ejge-8767	179	3	4	4	NUM
ejge-8767	179	4	we	we	PRON
ejge-8767	179	5	run	run	VERB
ejge-8767	179	6	a	a	DET
ejge-8767	179	7	quantile	quantile	ADJ
ejge-8767	179	8	regression	regression	NOUN
ejge-8767	179	9	and	and	CCONJ
ejge-8767	179	10	morningstar	morningstar	NOUN
ejge-8767	179	11	ratings	rating	NOUN
ejge-8767	179	12	as	as	ADP
ejge-8767	179	13	control	control	NOUN
ejge-8767	179	14	variables	variable	NOUN
ejge-8767	179	15	.	.	PUNCT
ejge-8767	180	1	here	here	ADV
ejge-8767	180	2	we	we	PRON
ejge-8767	180	3	confirm	confirm	VERB
ejge-8767	180	4	the	the	DET
ejge-8767	180	5	results	result	NOUN
ejge-8767	180	6	previously	previously	ADV
ejge-8767	180	7	achieved	achieve	VERB
ejge-8767	180	8	(	(	PUNCT
ejge-8767	180	9	a	a	DET
ejge-8767	180	10	negative	negative	ADJ
ejge-8767	180	11	relationship	relationship	NOUN
ejge-8767	180	12	in	in	ADP
ejge-8767	180	13	the	the	DET
ejge-8767	180	14	0.25	0.25	NUM
ejge-8767	180	15	and	and	CCONJ
ejge-8767	180	16	0.5	0.5	NUM
ejge-8767	180	17	quantiles	quantile	NOUN
ejge-8767	180	18	and	and	CCONJ
ejge-8767	180	19	a	a	DET
ejge-8767	180	20	positive	positive	ADJ
ejge-8767	180	21	relationship	relationship	NOUN
ejge-8767	180	22	in	in	ADP
ejge-8767	180	23	the	the	DET
ejge-8767	180	24	0.75	0.75	NUM
ejge-8767	180	25	quantile	quantile	NOUN
ejge-8767	180	26	)	)	PUNCT
ejge-8767	180	27	.	.	PUNCT
ejge-8767	181	1	the	the	DET
ejge-8767	181	2	results	result	NOUN
ejge-8767	181	3	are	be	AUX
ejge-8767	181	4	consistent	consistent	ADJ
ejge-8767	181	5	with	with	ADP
ejge-8767	181	6	the	the	DET
ejge-8767	181	7	conclusions	conclusion	NOUN
ejge-8767	181	8	drawn	draw	VERB
ejge-8767	181	9	without	without	ADP
ejge-8767	181	10	the	the	DET
ejge-8767	181	11	morningstar	morningstar	NOUN
ejge-8767	181	12	ratings	rating	NOUN
ejge-8767	181	13	,	,	PUNCT
ejge-8767	181	14	even	even	ADV
ejge-8767	181	15	though	though	SCONJ
ejge-8767	181	16	by	by	ADP
ejge-8767	181	17	using	use	VERB
ejge-8767	181	18	the	the	DET
ejge-8767	181	19	ratings	rating	NOUN
ejge-8767	181	20	,	,	PUNCT
ejge-8767	181	21	significance	significance	NOUN
ejge-8767	181	22	is	be	AUX
ejge-8767	181	23	lost	lose	VERB
ejge-8767	181	24	in	in	ADP
ejge-8767	181	25	q75	q75	VERB
ejge-8767	181	26	in	in	ADP
ejge-8767	181	27	relation	relation	NOUN
ejge-8767	181	28	to	to	ADP
ejge-8767	181	29	alfa	alfa	PROPN
ejge-8767	181	30	,	,	PUNCT
ejge-8767	181	31	sharpe	sharpe	PROPN
ejge-8767	181	32	and	and	CCONJ
ejge-8767	181	33	sortino	sortino	NOUN
ejge-8767	181	34	,	,	PUNCT
ejge-8767	181	35	maintaining	maintain	VERB
ejge-8767	181	36	the	the	DET
ejge-8767	181	37	annual	annual	ADJ
ejge-8767	181	38	performance	performance	NOUN
ejge-8767	181	39	.	.	PUNCT
ejge-8767	182	1	4.3	4.3	NUM
ejge-8767	182	2	robustness	robustness	NOUN
ejge-8767	182	3	as	as	ADP
ejge-8767	182	4	a	a	DET
ejge-8767	182	5	robustness	robustness	NOUN
ejge-8767	182	6	test	test	NOUN
ejge-8767	182	7	,	,	PUNCT
ejge-8767	182	8	we	we	PRON
ejge-8767	182	9	used	use	VERB
ejge-8767	182	10	a	a	DET
ejge-8767	182	11	quantile	quantile	ADJ
ejge-8767	182	12	regression	regression	NOUN
ejge-8767	182	13	,	,	PUNCT
ejge-8767	182	14	but	but	CCONJ
ejge-8767	182	15	with	with	ADP
ejge-8767	182	16	different	different	ADJ
ejge-8767	182	17	quantiles	quantile	NOUN
ejge-8767	182	18	from	from	ADP
ejge-8767	182	19	those	those	PRON
ejge-8767	182	20	used	use	VERB
ejge-8767	182	21	previously	previously	ADV
ejge-8767	182	22	.	.	PUNCT
ejge-8767	183	1	in	in	ADP
ejge-8767	183	2	this	this	DET
ejge-8767	183	3	way	way	NOUN
ejge-8767	183	4	,	,	PUNCT
ejge-8767	183	5	we	we	PRON
ejge-8767	183	6	use	use	VERB
ejge-8767	183	7	the	the	DET
ejge-8767	183	8	first	first	ADJ
ejge-8767	183	9	decile	decile	NOUN
ejge-8767	183	10	,	,	PUNCT
ejge-8767	183	11	the	the	DET
ejge-8767	183	12	median	median	NOUN
ejge-8767	183	13	and	and	CCONJ
ejge-8767	183	14	the	the	DET
ejge-8767	183	15	ninth	ninth	ADJ
ejge-8767	183	16	decile	decile	NOUN
ejge-8767	183	17	(	(	PUNCT
ejge-8767	183	18	q10	q10	PROPN
ejge-8767	183	19	,	,	PUNCT
ejge-8767	183	20	q50	q50	NOUN
ejge-8767	183	21	,	,	PUNCT
ejge-8767	183	22	q90	q90	NOUN
ejge-8767	183	23	)	)	PUNCT
ejge-8767	183	24	.	.	PUNCT
ejge-8767	184	1	table	table	NOUN
ejge-8767	184	2	6	6	NUM
ejge-8767	184	3	shows	show	VERB
ejge-8767	184	4	the	the	DET
ejge-8767	184	5	robustness	robustness	NOUN
ejge-8767	184	6	of	of	ADP
ejge-8767	184	7	the	the	DET
ejge-8767	184	8	results	result	NOUN
ejge-8767	184	9	.	.	PUNCT
ejge-8767	185	1	it	it	PRON
ejge-8767	185	2	is	be	AUX
ejge-8767	185	3	observed	observe	VERB
ejge-8767	185	4	for	for	ADP
ejge-8767	185	5	the	the	DET
ejge-8767	185	6	lowest	low	ADJ
ejge-8767	185	7	quantiles	quantile	NOUN
ejge-8767	185	8	,	,	PUNCT
ejge-8767	185	9	in	in	ADP
ejge-8767	185	10	this	this	DET
ejge-8767	185	11	case	case	NOUN
ejge-8767	185	12	the	the	DET
ejge-8767	185	13	0.1	0.1	NUM
ejge-8767	185	14	and	and	CCONJ
ejge-8767	185	15	0.5	0.5	NUM
ejge-8767	185	16	quantiles	quantile	NOUN
ejge-8767	185	17	,	,	PUNCT
ejge-8767	185	18	spending	spending	NOUN
ejge-8767	185	19	has	have	VERB
ejge-8767	185	20	a	a	DET
ejge-8767	185	21	negative	negative	ADJ
ejge-8767	185	22	relationship	relationship	NOUN
ejge-8767	185	23	with	with	ADP
ejge-8767	185	24	the	the	DET
ejge-8767	185	25	different	different	ADJ
ejge-8767	185	26	performance	performance	NOUN
ejge-8767	185	27	measures	measure	NOUN
ejge-8767	185	28	.	.	PUNCT
ejge-8767	186	1	for	for	ADP
ejge-8767	186	2	the	the	DET
ejge-8767	186	3	0.9	0.9	NUM
ejge-8767	186	4	quantile	quantile	NOUN
ejge-8767	186	5	there	there	PRON
ejge-8767	186	6	is	be	VERB
ejge-8767	186	7	a	a	DET
ejge-8767	186	8	positive	positive	ADJ
ejge-8767	186	9	relationship	relationship	NOUN
ejge-8767	186	10	between	between	ADP
ejge-8767	186	11	performance	performance	NOUN
ejge-8767	186	12	and	and	CCONJ
ejge-8767	186	13	spending	spending	NOUN
ejge-8767	186	14	.	.	PUNCT
ejge-8767	187	1	these	these	DET
ejge-8767	187	2	results	result	NOUN
ejge-8767	187	3	are	be	AUX
ejge-8767	187	4	consistent	consistent	ADJ
ejge-8767	187	5	with	with	ADP
ejge-8767	187	6	those	those	PRON
ejge-8767	187	7	found	find	VERB
ejge-8767	187	8	previously	previously	ADV
ejge-8767	187	9	in	in	ADP
ejge-8767	187	10	table	table	NOUN
ejge-8767	187	11	5	5	NUM
ejge-8767	187	12	.	.	PUNCT
ejge-8767	188	1	annex	annex	VERB
ejge-8767	188	2	5	5	NUM
ejge-8767	188	3	shows	show	VERB
ejge-8767	188	4	the	the	DET
ejge-8767	188	5	estimate	estimate	NOUN
ejge-8767	188	6	when	when	SCONJ
ejge-8767	188	7	we	we	PRON
ejge-8767	188	8	incorporate	incorporate	VERB
ejge-8767	188	9	fund	fund	NOUN
ejge-8767	188	10	ratings	rating	NOUN
ejge-8767	188	11	as	as	ADP
ejge-8767	188	12	an	an	DET
ejge-8767	188	13	explanatory	explanatory	ADJ
ejge-8767	188	14	variable	variable	NOUN
ejge-8767	188	15	.	.	PUNCT
ejge-8767	189	1	it	it	PRON
ejge-8767	189	2	is	be	AUX
ejge-8767	189	3	observed	observe	VERB
ejge-8767	189	4	that	that	SCONJ
ejge-8767	189	5	expenses	expense	NOUN
ejge-8767	189	6	have	have	VERB
ejge-8767	189	7	a	a	DET
ejge-8767	189	8	negative	negative	ADJ
ejge-8767	189	9	and	and	CCONJ
ejge-8767	189	10	significant	significant	ADJ
ejge-8767	189	11	relationship	relationship	NOUN
ejge-8767	189	12	in	in	ADP
ejge-8767	189	13	the	the	DET
ejge-8767	189	14	lower	low	ADJ
ejge-8767	189	15	quantiles	quantile	NOUN
ejge-8767	189	16	(	(	PUNCT
ejge-8767	189	17	0.10	0.10	NUM
ejge-8767	189	18	,	,	PUNCT
ejge-8767	189	19	0.50	0.50	NUM
ejge-8767	189	20	)	)	PUNCT
ejge-8767	189	21	and	and	CCONJ
ejge-8767	189	22	a	a	DET
ejge-8767	189	23	positive	positive	ADJ
ejge-8767	189	24	and	and	CCONJ
ejge-8767	189	25	significant	significant	ADJ
ejge-8767	189	26	relationship	relationship	NOUN
ejge-8767	189	27	in	in	ADP
ejge-8767	189	28	the	the	DET
ejge-8767	189	29	upper	upper	ADJ
ejge-8767	189	30	quantile	quantile	NOUN
ejge-8767	189	31	(	(	PUNCT
ejge-8767	189	32	0.90	0.90	NUM
ejge-8767	189	33	)	)	PUNCT
ejge-8767	189	34	.	.	PUNCT
ejge-8767	190	1	renato	renato	PROPN
ejge-8767	190	2	correia	correia	PROPN
ejge-8767	190	3	-	-	PUNCT
ejge-8767	190	4	domingues	domingue	NOUN
ejge-8767	190	5	et	et	PROPN
ejge-8767	190	6	al	al	PROPN
ejge-8767	190	7	.	.	PUNCT
ejge-8767	190	8	/	/	SYM
ejge-8767	190	9	european	european	PROPN
ejge-8767	190	10	journal	journal	PROPN
ejge-8767	190	11	of	of	ADP
ejge-8767	190	12	government	government	NOUN
ejge-8767	190	13	and	and	CCONJ
ejge-8767	190	14	economics	economic	NOUN
ejge-8767	190	15	11(1	11(1	NUM
ejge-8767	190	16	)	)	PUNCT
ejge-8767	190	17	,	,	PUNCT
ejge-8767	190	18	june	june	PROPN
ejge-8767	190	19	2022	2022	NUM
ejge-8767	190	20	,	,	PUNCT
ejge-8767	190	21	31	31	NUM
ejge-8767	190	22	-	-	SYM
ejge-8767	190	23	50	50	NUM
ejge-8767	190	24	42	42	NUM
ejge-8767	190	25	table	table	NOUN
ejge-8767	190	26	5	5	NUM
ejge-8767	190	27	.	.	PUNCT
ejge-8767	190	28	quantile	quantile	ADJ
ejge-8767	190	29	regression	regression	NOUN
ejge-8767	190	30	of	of	ADP
ejge-8767	190	31	the	the	DET
ejge-8767	190	32	relationship	relationship	NOUN
ejge-8767	190	33	between	between	ADP
ejge-8767	190	34	performance	performance	NOUN
ejge-8767	190	35	and	and	CCONJ
ejge-8767	190	36	expenses	expense	NOUN
ejge-8767	190	37	.	.	PUNCT
ejge-8767	191	1	variable	variable	ADJ
ejge-8767	191	2	alfa	alfa	PROPN
ejge-8767	191	3	sharpe	sharpe	PROPN
ejge-8767	191	4	sortino	sortino	PROPN
ejge-8767	191	5	annual	annual	ADJ
ejge-8767	191	6	return	return	PROPN
ejge-8767	191	7	q25	q25	NOUN
ejge-8767	191	8	net	net	NOUN
ejge-8767	191	9	expenses	expense	NOUN
ejge-8767	191	10	-0.1067	-0.1067	NOUN
ejge-8767	192	1	*	*	PUNCT
ejge-8767	192	2	*	*	PUNCT
ejge-8767	192	3	*	*	NOUN
ejge-8767	192	4	-0.0356	-0.0356	NOUN
ejge-8767	192	5	*	*	PUNCT
ejge-8767	192	6	*	*	PUNCT
ejge-8767	192	7	*	*	PUNCT
ejge-8767	192	8	-0.0438	-0.0438	X
ejge-8767	192	9	*	*	PUNCT
ejge-8767	192	10	*	*	PUNCT
ejge-8767	192	11	*	*	NOUN
ejge-8767	192	12	-0.8261	-0.8261	NOUN
ejge-8767	192	13	*	*	PUNCT
ejge-8767	192	14	*	*	PUNCT
ejge-8767	192	15	*	*	PROPN
ejge-8767	192	16	tenure	tenure	NOUN
ejge-8767	192	17	0.0039	0.0039	NUM
ejge-8767	192	18	0.0012	0.0012	NUM
ejge-8767	192	19	*	*	PUNCT
ejge-8767	192	20	0.0007	0.0007	NUM
ejge-8767	192	21	0.0510	0.0510	NUM
ejge-8767	192	22	net	net	ADJ
ejge-8767	192	23	assets	asset	NOUN
ejge-8767	192	24	0.0009	0.0009	NUM
ejge-8767	192	25	0.0144	0.0144	NUM
ejge-8767	192	26	*	*	PUNCT
ejge-8767	192	27	*	*	PUNCT
ejge-8767	193	1	*	*	PUNCT
ejge-8767	193	2	0.0150	0.0150	NUM
ejge-8767	193	3	*	*	PUNCT
ejge-8767	193	4	*	*	PUNCT
ejge-8767	193	5	*	*	PUNCT
ejge-8767	193	6	0.0981	0.0981	NUM
ejge-8767	193	7	funds	fund	NOUN
ejge-8767	193	8	years	year	NOUN
ejge-8767	193	9	0.0010	0.0010	NUM
ejge-8767	193	10	-0.0040	-0.0040	NOUN
ejge-8767	193	11	*	*	PUNCT
ejge-8767	193	12	*	*	PUNCT
ejge-8767	193	13	*	*	PUNCT
ejge-8767	193	14	-0.0043	-0.0043	ADJ
ejge-8767	193	15	*	*	PUNCT
ejge-8767	193	16	*	*	PUNCT
ejge-8767	193	17	*	*	PUNCT
ejge-8767	193	18	-0.0337	-0.0337	NOUN
ejge-8767	193	19	flexcap	flexcap	NOUN
ejge-8767	194	1	0.1602	0.1602	NUM
ejge-8767	194	2	-0.0638	-0.0638	ADJ
ejge-8767	194	3	-0.0403	-0.0403	NOUN
ejge-8767	194	4	0.6385	0.6385	NUM
ejge-8767	194	5	largecap	largecap	NOUN
ejge-8767	194	6	0.2255	0.2255	NUM
ejge-8767	194	7	-0.0248	-0.0248	X
ejge-8767	194	8	-0.0142	-0.0142	X
ejge-8767	194	9	1.4982	1.4982	NUM
ejge-8767	194	10	midcap	midcap	NOUN
ejge-8767	194	11	0.1994	0.1994	NUM
ejge-8767	194	12	0.0965	0.0965	NUM
ejge-8767	194	13	*	*	PUNCT
ejge-8767	194	14	*	*	X
ejge-8767	194	15	0.1842	0.1842	NUM
ejge-8767	194	16	*	*	PUNCT
ejge-8767	194	17	*	*	PUNCT
ejge-8767	194	18	*	*	X
ejge-8767	194	19	2.3506	2.3506	NUM
ejge-8767	194	20	smallcap	smallcap	NOUN
ejge-8767	194	21	0.2150	0.2150	NUM
ejge-8767	194	22	-0.0824	-0.0824	NOUN
ejge-8767	194	23	-0.0889	-0.0889	VERB
ejge-8767	195	1	1.0160	1.0160	NUM
ejge-8767	195	2	const	const	ADJ
ejge-8767	195	3	-0.6271	-0.6271	NOUN
ejge-8767	195	4	*	*	PUNCT
ejge-8767	195	5	*	*	PUNCT
ejge-8767	195	6	-0.5372	-0.5372	NOUN
ejge-8767	195	7	-0.6436	-0.6436	PROPN
ejge-8767	196	1	*	*	PUNCT
ejge-8767	196	2	*	*	PUNCT
ejge-8767	196	3	*	*	PUNCT
ejge-8767	196	4	9.0485	9.0485	NUM
ejge-8767	196	5	*	*	SYM
ejge-8767	196	6	*	*	PROPN
ejge-8767	196	7	q50	q50	NOUN
ejge-8767	196	8	net	net	ADJ
ejge-8767	196	9	expenses	expense	NOUN
ejge-8767	196	10	-0.0208	-0.0208	VERB
ejge-8767	196	11	-0.0241	-0.0241	PROPN
ejge-8767	196	12	*	*	PUNCT
ejge-8767	196	13	*	*	NOUN
ejge-8767	196	14	-0.0262	-0.0262	PROPN
ejge-8767	196	15	*	*	PUNCT
ejge-8767	196	16	*	*	PUNCT
ejge-8767	196	17	-0.2419	-0.2419	PROPN
ejge-8767	196	18	tenure	tenure	NOUN
ejge-8767	196	19	0.0006	0.0006	NUM
ejge-8767	196	20	0.0010	0.0010	NUM
ejge-8767	196	21	0.0008	0.0008	NUM
ejge-8767	196	22	0.0110	0.0110	NUM
ejge-8767	196	23	net	net	ADJ
ejge-8767	196	24	assets	asset	NOUN
ejge-8767	196	25	0.0018	0.0018	NUM
ejge-8767	196	26	0.0057	0.0057	NUM
ejge-8767	196	27	*	*	PUNCT
ejge-8767	196	28	0.0057	0.0057	NUM
ejge-8767	196	29	-0.0095	-0.0095	NOUN
ejge-8767	196	30	funds	fund	NOUN
ejge-8767	196	31	years	year	NOUN
ejge-8767	196	32	-0.0040	-0.0040	NOUN
ejge-8767	196	33	*	*	PUNCT
ejge-8767	196	34	*	*	PUNCT
ejge-8767	196	35	*	*	PUNCT
ejge-8767	196	36	-0.0020	-0.0020	NOUN
ejge-8767	196	37	-0.0022	-0.0022	NOUN
ejge-8767	196	38	-0.0445	-0.0445	NOUN
ejge-8767	196	39	flexcap	flexcap	PROPN
ejge-8767	197	1	0.3272	0.3272	NUM
ejge-8767	197	2	*	*	PUNCT
ejge-8767	197	3	*	*	PUNCT
ejge-8767	197	4	*	*	PUNCT
ejge-8767	198	1	0.1063	0.1063	NUM
ejge-8767	198	2	*	*	NOUN
ejge-8767	198	3	0.1160	0.1160	NUM
ejge-8767	198	4	*	*	SYM
ejge-8767	198	5	1.9252	1.9252	NUM
ejge-8767	198	6	largecap	largecap	NOUN
ejge-8767	198	7	0.2596	0.2596	NUM
ejge-8767	198	8	*	*	PUNCT
ejge-8767	198	9	*	*	PUNCT
ejge-8767	198	10	*	*	PUNCT
ejge-8767	198	11	0.0439	0.0439	NUM
ejge-8767	198	12	0.0566	0.0566	NUM
ejge-8767	198	13	0.5439	0.5439	NUM
ejge-8767	198	14	midcap	midcap	NOUN
ejge-8767	198	15	0.5121	0.5121	PRON
ejge-8767	198	16	*	*	PUNCT
ejge-8767	198	17	*	*	PUNCT
ejge-8767	198	18	*	*	PUNCT
ejge-8767	198	19	0.2788	0.2788	NUM
ejge-8767	198	20	*	*	PUNCT
ejge-8767	198	21	*	*	PUNCT
ejge-8767	198	22	*	*	PUNCT
ejge-8767	198	23	0.3776	0.3776	NUM
ejge-8767	198	24	*	*	PUNCT
ejge-8767	198	25	*	*	PUNCT
ejge-8767	198	26	*	*	PUNCT
ejge-8767	198	27	5.6020	5.6020	NUM
ejge-8767	198	28	*	*	PUNCT
ejge-8767	198	29	smallcap	smallcap	NOUN
ejge-8767	198	30	0.5766	0.5766	NUM
ejge-8767	198	31	*	*	PUNCT
ejge-8767	198	32	*	*	PUNCT
ejge-8767	198	33	*	*	PUNCT
ejge-8767	198	34	0.1945	0.1945	NUM
ejge-8767	198	35	*	*	PUNCT
ejge-8767	198	36	*	*	NOUN
ejge-8767	198	37	0.1810	0.1810	NUM
ejge-8767	198	38	3.9711	3.9711	NUM
ejge-8767	198	39	*	*	NOUN
ejge-8767	198	40	cons	con	NOUN
ejge-8767	198	41	-0.3512	-0.3512	NOUN
ejge-8767	198	42	*	*	SYM
ejge-8767	198	43	-0.4582	-0.4582	NOUN
ejge-8767	199	1	-0.5763	-0.5763	PROPN
ejge-8767	200	1	*	*	PUNCT
ejge-8767	200	2	*	*	PUNCT
ejge-8767	200	3	*	*	PUNCT
ejge-8767	200	4	12.6173	12.6173	NUM
ejge-8767	200	5	*	*	PUNCT
ejge-8767	200	6	*	*	PUNCT
ejge-8767	200	7	*	*	PUNCT
ejge-8767	200	8	q75	q75	ADJ
ejge-8767	200	9	net	net	ADJ
ejge-8767	200	10	expenses	expense	NOUN
ejge-8767	200	11	0.0174	0.0174	NUM
ejge-8767	200	12	-0.0102	-0.0102	NOUN
ejge-8767	200	13	*	*	PUNCT
ejge-8767	200	14	-0.0109	-0.0109	VERB
ejge-8767	200	15	0.6517	0.6517	NUM
ejge-8767	200	16	*	*	PUNCT
ejge-8767	200	17	*	*	PROPN
ejge-8767	200	18	tenure	tenure	NOUN
ejge-8767	200	19	-0.0026	-0.0026	PROPN
ejge-8767	200	20	-0.0004	-0.0004	PROPN
ejge-8767	200	21	-0.0013	-0.0013	PUNCT
ejge-8767	201	1	0.0202	0.0202	NUM
ejge-8767	201	2	net	net	ADJ
ejge-8767	201	3	assets	asset	NOUN
ejge-8767	201	4	-0.0053	-0.0053	VERB
ejge-8767	201	5	0.0021	0.0021	NUM
ejge-8767	201	6	0.0041	0.0041	NUM
ejge-8767	201	7	-0.0043	-0.0043	ADJ
ejge-8767	201	8	funds	fund	NOUN
ejge-8767	201	9	years	year	NOUN
ejge-8767	201	10	-0.0046	-0.0046	NOUN
ejge-8767	201	11	-0.0011	-0.0011	PUNCT
ejge-8767	202	1	-0.0014	-0.0014	PROPN
ejge-8767	202	2	-0.0485	-0.0485	NOUN
ejge-8767	202	3	flexcap	flexcap	PROPN
ejge-8767	202	4	0.3798	0.3798	NUM
ejge-8767	202	5	*	*	NOUN
ejge-8767	202	6	0.1790	0.1790	NUM
ejge-8767	202	7	*	*	PUNCT
ejge-8767	202	8	*	*	PUNCT
ejge-8767	203	1	*	*	PUNCT
ejge-8767	203	2	0.2323	0.2323	PUNCT
ejge-8767	203	3	*	*	PUNCT
ejge-8767	203	4	*	*	PUNCT
ejge-8767	203	5	*	*	PUNCT
ejge-8767	203	6	4.6076	4.6076	NUM
ejge-8767	203	7	largecap	largecap	NOUN
ejge-8767	203	8	0.0397	0.0397	NUM
ejge-8767	203	9	0.0017	0.0017	NUM
ejge-8767	203	10	0.0217	0.0217	NUM
ejge-8767	203	11	-0.0687	-0.0687	NOUN
ejge-8767	203	12	midcap	midcap	VERB
ejge-8767	203	13	0.4172	0.4172	PRON
ejge-8767	203	14	*	*	NOUN
ejge-8767	203	15	*	*	X
ejge-8767	203	16	0.2886	0.2886	NUM
ejge-8767	203	17	*	*	PUNCT
ejge-8767	203	18	*	*	PUNCT
ejge-8767	203	19	*	*	PUNCT
ejge-8767	203	20	0.4871	0.4871	NUM
ejge-8767	203	21	*	*	PUNCT
ejge-8767	203	22	*	*	PUNCT
ejge-8767	203	23	*	*	PUNCT
ejge-8767	204	1	9.4906	9.4906	NUM
ejge-8767	204	2	*	*	PUNCT
ejge-8767	204	3	*	*	NOUN
ejge-8767	204	4	smallcap	smallcap	NOUN
ejge-8767	204	5	0.5675	0.5675	NUM
ejge-8767	204	6	*	*	PUNCT
ejge-8767	204	7	*	*	PUNCT
ejge-8767	204	8	*	*	PUNCT
ejge-8767	204	9	0.2503	0.2503	NUM
ejge-8767	204	10	*	*	PUNCT
ejge-8767	204	11	*	*	NOUN
ejge-8767	204	12	0.3850	0.3850	NUM
ejge-8767	204	13	*	*	PUNCT
ejge-8767	204	14	*	*	PUNCT
ejge-8767	204	15	*	*	PUNCT
ejge-8767	204	16	8.6049	8.6049	NUM
ejge-8767	204	17	*	*	PUNCT
ejge-8767	204	18	*	*	PUNCT
ejge-8767	204	19	cons	con	NOUN
ejge-8767	204	20	0.0113	0.0113	NUM
ejge-8767	204	21	-0.2822	-0.2822	NOUN
ejge-8767	204	22	-0.4368	-0.4368	NOUN
ejge-8767	204	23	*	*	PUNCT
ejge-8767	204	24	*	*	PUNCT
ejge-8767	204	25	13.9186	13.9186	NUM
ejge-8767	204	26	*	*	PUNCT
ejge-8767	204	27	*	*	PUNCT
ejge-8767	204	28	*	*	PUNCT
ejge-8767	204	29	n	n	NUM
ejge-8767	204	30	1411	1411	NUM
ejge-8767	204	31	1185	1185	NUM
ejge-8767	204	32	1185	1185	NUM
ejge-8767	204	33	1388	1388	NUM
ejge-8767	204	34	note	note	NOUN
ejge-8767	204	35	:	:	PUNCT
ejge-8767	204	36	q25	q25	NOUN
ejge-8767	204	37	,	,	PUNCT
ejge-8767	204	38	q50	q50	NOUN
ejge-8767	204	39	,	,	PUNCT
ejge-8767	204	40	q75	q75	NOUN
ejge-8767	204	41	refer	refer	VERB
ejge-8767	204	42	to	to	ADP
ejge-8767	204	43	the	the	DET
ejge-8767	204	44	quantile	quantile	ADJ
ejge-8767	204	45	estimate	estimate	NOUN
ejge-8767	204	46	made	make	VERB
ejge-8767	204	47	for	for	ADP
ejge-8767	204	48	the	the	DET
ejge-8767	204	49	25th	25th	ADJ
ejge-8767	204	50	quantile	quantile	NOUN
ejge-8767	204	51	,	,	PUNCT
ejge-8767	204	52	the	the	DET
ejge-8767	204	53	median	median	NOUN
ejge-8767	204	54	and	and	CCONJ
ejge-8767	204	55	the	the	DET
ejge-8767	204	56	75th	75th	ADJ
ejge-8767	204	57	quantile	quantile	NOUN
ejge-8767	204	58	,	,	PUNCT
ejge-8767	204	59	respectively	respectively	ADV
ejge-8767	204	60	.	.	PUNCT
ejge-8767	205	1	renato	renato	PROPN
ejge-8767	205	2	correia	correia	PROPN
ejge-8767	205	3	-	-	PUNCT
ejge-8767	205	4	domingues	domingue	NOUN
ejge-8767	205	5	et	et	PROPN
ejge-8767	205	6	al	al	PROPN
ejge-8767	205	7	.	.	PUNCT
ejge-8767	205	8	/	/	SYM
ejge-8767	205	9	european	european	PROPN
ejge-8767	205	10	journal	journal	PROPN
ejge-8767	205	11	of	of	ADP
ejge-8767	205	12	government	government	NOUN
ejge-8767	205	13	and	and	CCONJ
ejge-8767	205	14	economics	economic	NOUN
ejge-8767	205	15	11(1	11(1	NUM
ejge-8767	205	16	)	)	PUNCT
ejge-8767	205	17	,	,	PUNCT
ejge-8767	205	18	june	june	PROPN
ejge-8767	205	19	2022	2022	NUM
ejge-8767	205	20	,	,	PUNCT
ejge-8767	205	21	31	31	NUM
ejge-8767	205	22	-	-	SYM
ejge-8767	205	23	50	50	NUM
ejge-8767	205	24	43	43	NUM
ejge-8767	205	25	table	table	NOUN
ejge-8767	205	26	6	6	NUM
ejge-8767	205	27	.	.	PUNCT
ejge-8767	205	28	quantile	quantile	ADJ
ejge-8767	205	29	regression	regression	NOUN
ejge-8767	205	30	of	of	ADP
ejge-8767	205	31	the	the	DET
ejge-8767	205	32	relationship	relationship	NOUN
ejge-8767	205	33	between	between	ADP
ejge-8767	205	34	performance	performance	NOUN
ejge-8767	205	35	and	and	CCONJ
ejge-8767	205	36	expenses	expense	NOUN
ejge-8767	205	37	.	.	PUNCT
ejge-8767	206	1	variable	variable	ADJ
ejge-8767	206	2	alfa	alfa	PROPN
ejge-8767	206	3	sharpe	sharpe	PROPN
ejge-8767	206	4	sortino	sortino	PROPN
ejge-8767	206	5	annual	annual	PROPN
ejge-8767	206	6	return	return	PROPN
ejge-8767	206	7	q10	q10	PROPN
ejge-8767	206	8	net	net	ADJ
ejge-8767	206	9	expenses	expense	NOUN
ejge-8767	206	10	-0.1508	-0.1508	NOUN
ejge-8767	206	11	*	*	PUNCT
ejge-8767	206	12	*	*	PUNCT
ejge-8767	206	13	*	*	NOUN
ejge-8767	206	14	-0.0568	-0.0568	NOUN
ejge-8767	207	1	*	*	PUNCT
ejge-8767	207	2	*	*	PUNCT
ejge-8767	207	3	*	*	X
ejge-8767	207	4	-0.0649	-0.0649	X
ejge-8767	207	5	*	*	PUNCT
ejge-8767	207	6	*	*	PUNCT
ejge-8767	207	7	*	*	PUNCT
ejge-8767	207	8	-0.9561	-0.9561	NOUN
ejge-8767	208	1	*	*	PUNCT
ejge-8767	208	2	*	*	PUNCT
ejge-8767	208	3	*	*	PROPN
ejge-8767	208	4	tenure	tenure	NOUN
ejge-8767	208	5	0.0041	0.0041	NUM
ejge-8767	208	6	0.0021	0.0021	NUM
ejge-8767	208	7	*	*	PUNCT
ejge-8767	208	8	*	*	PROPN
ejge-8767	208	9	0.0023	0.0023	NUM
ejge-8767	208	10	-0.0021	-0.0021	NOUN
ejge-8767	208	11	net	net	ADJ
ejge-8767	208	12	assets	asset	NOUN
ejge-8767	208	13	0.0122	0.0122	NUM
ejge-8767	208	14	0.0249	0.0249	NUM
ejge-8767	208	15	*	*	PUNCT
ejge-8767	209	1	*	*	PUNCT
ejge-8767	209	2	*	*	PUNCT
ejge-8767	210	1	0.0244	0.0244	PUNCT
ejge-8767	210	2	*	*	PUNCT
ejge-8767	210	3	*	*	PUNCT
ejge-8767	210	4	*	*	PUNCT
ejge-8767	211	1	0.3866	0.3866	PUNCT
ejge-8767	211	2	*	*	PUNCT
ejge-8767	211	3	*	*	PUNCT
ejge-8767	211	4	*	*	NOUN
ejge-8767	211	5	funds	fund	NOUN
ejge-8767	211	6	years	year	NOUN
ejge-8767	211	7	0.0087	0.0087	NUM
ejge-8767	211	8	*	*	PUNCT
ejge-8767	211	9	*	*	PUNCT
ejge-8767	211	10	*	*	PUNCT
ejge-8767	211	11	-0.0018	-0.0018	X
ejge-8767	211	12	*	*	PUNCT
ejge-8767	211	13	*	*	PUNCT
ejge-8767	211	14	-0.0026	-0.0026	PUNCT
ejge-8767	211	15	*	*	PUNCT
ejge-8767	211	16	-0.0353	-0.0353	PROPN
ejge-8767	211	17	flexcap	flexcap	PROPN
ejge-8767	212	1	1.0371	1.0371	NUM
ejge-8767	212	2	*	*	PUNCT
ejge-8767	212	3	*	*	PUNCT
ejge-8767	212	4	-0.0220	-0.0220	PROPN
ejge-8767	212	5	0.0059	0.0059	NUM
ejge-8767	212	6	-0.2857	-0.2857	NOUN
ejge-8767	212	7	largecap	largecap	NOUN
ejge-8767	212	8	1.0281	1.0281	NUM
ejge-8767	212	9	*	*	NOUN
ejge-8767	212	10	*	*	PUNCT
ejge-8767	212	11	0.0229	0.0229	NUM
ejge-8767	212	12	0.0457	0.0457	NUM
ejge-8767	212	13	1.7556	1.7556	NUM
ejge-8767	212	14	midcap	midcap	NOUN
ejge-8767	212	15	0.8306	0.8306	NUM
ejge-8767	212	16	0.1355	0.1355	NUM
ejge-8767	212	17	0.1827	0.1827	NUM
ejge-8767	212	18	2.1185	2.1185	NUM
ejge-8767	212	19	smallcap	smallcap	NOUN
ejge-8767	212	20	0.8512	0.8512	NUM
ejge-8767	212	21	*	*	SYM
ejge-8767	212	22	-0.1164	-0.1164	NOUN
ejge-8767	212	23	-0.0275	-0.0275	X
ejge-8767	212	24	-2.7582	-2.7582	NOUN
ejge-8767	212	25	const	const	NOUN
ejge-8767	212	26	-1.8438	-1.8438	NOUN
ejge-8767	212	27	*	*	PUNCT
ejge-8767	212	28	*	*	PUNCT
ejge-8767	212	29	*	*	PUNCT
ejge-8767	212	30	-0.8137	-0.8137	X
ejge-8767	212	31	*	*	PUNCT
ejge-8767	212	32	*	*	PUNCT
ejge-8767	212	33	*	*	NOUN
ejge-8767	212	34	-0.9105	-0.9105	PROPN
ejge-8767	212	35	*	*	PROPN
ejge-8767	213	1	3.1581	3.1581	NUM
ejge-8767	213	2	q50	q50	NOUN
ejge-8767	213	3	net	net	ADJ
ejge-8767	213	4	expenses	expense	NOUN
ejge-8767	213	5	-0.0208	-0.0208	VERB
ejge-8767	213	6	-0.0241	-0.0241	PROPN
ejge-8767	213	7	*	*	PUNCT
ejge-8767	213	8	*	*	PUNCT
ejge-8767	213	9	*	*	NOUN
ejge-8767	213	10	-0.0262	-0.0262	X
ejge-8767	213	11	*	*	PUNCT
ejge-8767	213	12	*	*	NOUN
ejge-8767	213	13	-0.2419	-0.2419	NOUN
ejge-8767	213	14	*	*	PUNCT
ejge-8767	213	15	tenure	tenure	PROPN
ejge-8767	213	16	0.0006	0.0006	NUM
ejge-8767	213	17	0.0010	0.0010	NUM
ejge-8767	213	18	0.0008	0.0008	NUM
ejge-8767	213	19	0.0110	0.0110	NUM
ejge-8767	213	20	net	net	ADJ
ejge-8767	213	21	assets	asset	NOUN
ejge-8767	213	22	0.0018	0.0018	NUM
ejge-8767	213	23	0.0057	0.0057	NUM
ejge-8767	213	24	*	*	PUNCT
ejge-8767	213	25	*	*	PUNCT
ejge-8767	213	26	0.0057	0.0057	NUM
ejge-8767	213	27	-0.0095	-0.0095	NOUN
ejge-8767	213	28	funds	fund	NOUN
ejge-8767	213	29	years	year	NOUN
ejge-8767	213	30	-0.0040	-0.0040	NOUN
ejge-8767	213	31	*	*	PROPN
ejge-8767	213	32	*	*	PUNCT
ejge-8767	213	33	-0.0020	-0.0020	NOUN
ejge-8767	213	34	*	*	PUNCT
ejge-8767	213	35	-0.0022	-0.0022	PROPN
ejge-8767	213	36	*	*	PUNCT
ejge-8767	213	37	-0.0445	-0.0445	PROPN
ejge-8767	213	38	flexcap	flexcap	PROPN
ejge-8767	213	39	0.3272	0.3272	NUM
ejge-8767	213	40	*	*	PUNCT
ejge-8767	213	41	*	*	PUNCT
ejge-8767	213	42	*	*	PUNCT
ejge-8767	214	1	0.1063	0.1063	NUM
ejge-8767	214	2	*	*	NOUN
ejge-8767	214	3	0.1160	0.1160	NUM
ejge-8767	214	4	*	*	SYM
ejge-8767	214	5	1.9252	1.9252	NUM
ejge-8767	214	6	largecap	largecap	NOUN
ejge-8767	214	7	0.2596	0.2596	NUM
ejge-8767	214	8	*	*	PUNCT
ejge-8767	214	9	*	*	PUNCT
ejge-8767	214	10	0.0439	0.0439	NUM
ejge-8767	214	11	0.0566	0.0566	NUM
ejge-8767	214	12	0.5439	0.5439	NUM
ejge-8767	214	13	midcap	midcap	NOUN
ejge-8767	214	14	0.5121	0.5121	NUM
ejge-8767	214	15	*	*	PUNCT
ejge-8767	214	16	*	*	PUNCT
ejge-8767	214	17	0.2788	0.2788	NUM
ejge-8767	214	18	*	*	PUNCT
ejge-8767	214	19	*	*	PUNCT
ejge-8767	214	20	*	*	PUNCT
ejge-8767	214	21	0.3776	0.3776	NUM
ejge-8767	214	22	*	*	PUNCT
ejge-8767	214	23	*	*	PUNCT
ejge-8767	214	24	*	*	PUNCT
ejge-8767	215	1	5.6020	5.6020	NUM
ejge-8767	215	2	*	*	PUNCT
ejge-8767	215	3	*	*	PUNCT
ejge-8767	215	4	*	*	X
ejge-8767	215	5	smallcap	smallcap	NOUN
ejge-8767	215	6	0.5766	0.5766	NUM
ejge-8767	215	7	*	*	PUNCT
ejge-8767	215	8	*	*	PUNCT
ejge-8767	215	9	*	*	PUNCT
ejge-8767	215	10	0.1945	0.1945	NUM
ejge-8767	215	11	*	*	PUNCT
ejge-8767	215	12	*	*	PUNCT
ejge-8767	215	13	*	*	PUNCT
ejge-8767	215	14	0.1810	0.1810	NUM
ejge-8767	215	15	*	*	SYM
ejge-8767	215	16	3.9711	3.9711	NUM
ejge-8767	215	17	const	const	ADJ
ejge-8767	215	18	-0.3512	-0.3512	NOUN
ejge-8767	215	19	-0.4582	-0.4582	NOUN
ejge-8767	215	20	*	*	PUNCT
ejge-8767	215	21	*	*	PUNCT
ejge-8767	215	22	*	*	PUNCT
ejge-8767	215	23	-0.5763	-0.5763	NOUN
ejge-8767	215	24	*	*	PUNCT
ejge-8767	215	25	*	*	PUNCT
ejge-8767	215	26	*	*	PUNCT
ejge-8767	215	27	12.6173	12.6173	NUM
ejge-8767	215	28	*	*	PUNCT
ejge-8767	215	29	*	*	PUNCT
ejge-8767	215	30	*	*	PUNCT
ejge-8767	215	31	q90	q90	ADJ
ejge-8767	215	32	net	net	NOUN
ejge-8767	215	33	expenses	expense	VERB
ejge-8767	215	34	0.0541	0.0541	NUM
ejge-8767	215	35	*	*	PUNCT
ejge-8767	215	36	*	*	PUNCT
ejge-8767	215	37	-0.0005	-0.0005	NOUN
ejge-8767	215	38	-0.0054	-0.0054	VERB
ejge-8767	216	1	0.7930	0.7930	NUM
ejge-8767	216	2	*	*	PUNCT
ejge-8767	216	3	*	*	PUNCT
ejge-8767	216	4	*	*	PROPN
ejge-8767	216	5	tenure	tenure	NOUN
ejge-8767	216	6	-0.0060	-0.0060	NOUN
ejge-8767	216	7	-0.0022	-0.0022	PROPN
ejge-8767	216	8	-0.0005	-0.0005	X
ejge-8767	216	9	-0.0906	-0.0906	X
ejge-8767	216	10	*	*	PUNCT
ejge-8767	216	11	net	net	ADJ
ejge-8767	216	12	assets	asset	NOUN
ejge-8767	216	13	-0.0209	-0.0209	VERB
ejge-8767	216	14	0.0065	0.0065	NUM
ejge-8767	216	15	0.0056	0.0056	NUM
ejge-8767	216	16	0.0249	0.0249	NUM
ejge-8767	216	17	funds	fund	NOUN
ejge-8767	216	18	years	year	NOUN
ejge-8767	216	19	-0.0104	-0.0104	PROPN
ejge-8767	216	20	*	*	PUNCT
ejge-8767	216	21	*	*	PUNCT
ejge-8767	216	22	*	*	PUNCT
ejge-8767	216	23	-0.0019	-0.0019	NOUN
ejge-8767	216	24	-0.0020	-0.0020	NOUN
ejge-8767	216	25	-0.0313	-0.0313	PUNCT
ejge-8767	216	26	flexcap	flexcap	PROPN
ejge-8767	216	27	0.5107	0.5107	NUM
ejge-8767	216	28	*	*	PUNCT
ejge-8767	216	29	*	*	PUNCT
ejge-8767	216	30	*	*	PUNCT
ejge-8767	216	31	0.2191	0.2191	NUM
ejge-8767	216	32	*	*	PUNCT
ejge-8767	216	33	*	*	PUNCT
ejge-8767	216	34	*	*	PUNCT
ejge-8767	216	35	0.3139	0.3139	NUM
ejge-8767	216	36	*	*	PUNCT
ejge-8767	216	37	*	*	X
ejge-8767	216	38	6.3175	6.3175	NUM
ejge-8767	216	39	*	*	PUNCT
ejge-8767	216	40	*	*	PUNCT
ejge-8767	216	41	*	*	PUNCT
ejge-8767	216	42	largecap	largecap	NOUN
ejge-8767	216	43	0.1018	0.1018	NUM
ejge-8767	216	44	0.0390	0.0390	NUM
ejge-8767	216	45	0.0467	0.0467	NUM
ejge-8767	216	46	0.5299	0.5299	NUM
ejge-8767	216	47	midcap	midcap	NOUN
ejge-8767	216	48	0.7697	0.7697	NUM
ejge-8767	216	49	*	*	PUNCT
ejge-8767	216	50	*	*	PUNCT
ejge-8767	216	51	0.3080	0.3080	NUM
ejge-8767	216	52	*	*	PUNCT
ejge-8767	216	53	*	*	PUNCT
ejge-8767	216	54	*	*	PUNCT
ejge-8767	217	1	0.5209	0.5209	PUNCT
ejge-8767	217	2	*	*	PUNCT
ejge-8767	217	3	*	*	PUNCT
ejge-8767	217	4	*	*	PUNCT
ejge-8767	217	5	10.7623	10.7623	NUM
ejge-8767	217	6	*	*	PUNCT
ejge-8767	217	7	*	*	PUNCT
ejge-8767	217	8	smallcap	smallcap	NOUN
ejge-8767	217	9	0.7123	0.7123	NUM
ejge-8767	217	10	*	*	PUNCT
ejge-8767	217	11	*	*	PUNCT
ejge-8767	218	1	0.4793	0.4793	NUM
ejge-8767	218	2	*	*	PUNCT
ejge-8767	218	3	*	*	PUNCT
ejge-8767	218	4	*	*	PUNCT
ejge-8767	218	5	0.7060	0.7060	NUM
ejge-8767	218	6	*	*	PUNCT
ejge-8767	218	7	*	*	PUNCT
ejge-8767	218	8	*	*	PUNCT
ejge-8767	218	9	12.3191	12.3191	NUM
ejge-8767	218	10	*	*	PUNCT
ejge-8767	218	11	*	*	PUNCT
ejge-8767	218	12	*	*	PUNCT
ejge-8767	218	13	const	const	ADP
ejge-8767	218	14	0.5300	0.5300	NUM
ejge-8767	218	15	-0.1870	-0.1870	NOUN
ejge-8767	218	16	-0.1827	-0.1827	NOUN
ejge-8767	218	17	16.3357	16.3357	NUM
ejge-8767	218	18	*	*	PUNCT
ejge-8767	218	19	*	*	PUNCT
ejge-8767	218	20	*	*	PUNCT
ejge-8767	218	21	n	n	NUM
ejge-8767	218	22	1411	1411	NUM
ejge-8767	218	23	1185	1185	NUM
ejge-8767	218	24	1185	1185	NUM
ejge-8767	218	25	1388	1388	NUM
ejge-8767	218	26	there	there	PRON
ejge-8767	218	27	are	be	VERB
ejge-8767	218	28	more	more	ADJ
ejge-8767	218	29	than	than	ADP
ejge-8767	218	30	a	a	DET
ejge-8767	218	31	hundred	hundred	NUM
ejge-8767	218	32	metrics	metric	NOUN
ejge-8767	218	33	in	in	ADP
ejge-8767	218	34	the	the	DET
ejge-8767	218	35	performance	performance	NOUN
ejge-8767	218	36	literature	literature	NOUN
ejge-8767	218	37	(	(	PUNCT
ejge-8767	218	38	see	see	VERB
ejge-8767	218	39	cogneau	cogneau	NOUN
ejge-8767	218	40	and	and	CCONJ
ejge-8767	218	41	hübner	hübner	NOUN
ejge-8767	218	42	2009a	2009a	NOUN
ejge-8767	218	43	,	,	PUNCT
ejge-8767	218	44	2009b	2009b	NUM
ejge-8767	218	45	)	)	PUNCT
ejge-8767	218	46	.	.	PUNCT
ejge-8767	219	1	we	we	PRON
ejge-8767	219	2	have	have	AUX
ejge-8767	219	3	performed	perform	VERB
ejge-8767	219	4	as	as	ADP
ejge-8767	219	5	a	a	DET
ejge-8767	219	6	robustness	robustness	NOUN
ejge-8767	219	7	test	test	NOUN
ejge-8767	219	8	the	the	DET
ejge-8767	219	9	analysis	analysis	NOUN
ejge-8767	219	10	of	of	ADP
ejge-8767	219	11	the	the	DET
ejge-8767	219	12	results	result	NOUN
ejge-8767	219	13	of	of	ADP
ejge-8767	219	14	using	use	VERB
ejge-8767	219	15	other	other	ADJ
ejge-8767	219	16	frequently	frequently	ADV
ejge-8767	219	17	used	use	VERB
ejge-8767	219	18	metrics	metric	NOUN
ejge-8767	219	19	such	such	ADJ
ejge-8767	219	20	as	as	ADP
ejge-8767	219	21	the	the	DET
ejge-8767	219	22	treynor	treynor	NOUN
ejge-8767	219	23	ratio	ratio	NOUN
ejge-8767	219	24	(	(	PUNCT
ejge-8767	219	25	1965	1965	NUM
ejge-8767	219	26	)	)	PUNCT
ejge-8767	219	27	and	and	CCONJ
ejge-8767	219	28	the	the	DET
ejge-8767	219	29	jensen	jensen	PROPN
ejge-8767	219	30	alpha	alpha	NOUN
ejge-8767	219	31	(	(	PUNCT
ejge-8767	219	32	1968	1968	NUM
ejge-8767	219	33	)	)	PUNCT
ejge-8767	219	34	.	.	PUNCT
ejge-8767	220	1	this	this	DET
ejge-8767	220	2	study	study	NOUN
ejge-8767	220	3	reports	report	NOUN
ejge-8767	220	4	results	result	VERB
ejge-8767	220	5	very	very	ADV
ejge-8767	220	6	similar	similar	ADJ
ejge-8767	220	7	to	to	ADP
ejge-8767	220	8	those	those	PRON
ejge-8767	220	9	obtained	obtain	VERB
ejge-8767	220	10	previously	previously	ADV
ejge-8767	220	11	.	.	PUNCT
ejge-8767	221	1	5	5	X
ejge-8767	221	2	.	.	X
ejge-8767	221	3	conclusions	conclusion	NOUN
ejge-8767	221	4	this	this	DET
ejge-8767	221	5	study	study	NOUN
ejge-8767	221	6	focuses	focus	VERB
ejge-8767	221	7	on	on	ADP
ejge-8767	221	8	understanding	understand	VERB
ejge-8767	221	9	the	the	DET
ejge-8767	221	10	relationship	relationship	NOUN
ejge-8767	221	11	between	between	ADP
ejge-8767	221	12	the	the	DET
ejge-8767	221	13	level	level	NOUN
ejge-8767	221	14	of	of	ADP
ejge-8767	221	15	expenses	expense	NOUN
ejge-8767	221	16	of	of	ADP
ejge-8767	221	17	mutual	mutual	ADJ
ejge-8767	221	18	funds	fund	NOUN
ejge-8767	221	19	in	in	ADP
ejge-8767	221	20	the	the	DET
ejge-8767	221	21	euro	euro	NOUN
ejge-8767	221	22	zone	zone	NOUN
ejge-8767	221	23	and	and	CCONJ
ejge-8767	221	24	their	their	PRON
ejge-8767	221	25	current	current	ADJ
ejge-8767	221	26	and	and	CCONJ
ejge-8767	221	27	future	future	ADJ
ejge-8767	221	28	performance	performance	NOUN
ejge-8767	221	29	.	.	PUNCT
ejge-8767	222	1	in	in	ADP
ejge-8767	222	2	our	our	PRON
ejge-8767	222	3	study	study	NOUN
ejge-8767	222	4	,	,	PUNCT
ejge-8767	222	5	there	there	PRON
ejge-8767	222	6	appears	appear	VERB
ejge-8767	222	7	to	to	PART
ejge-8767	222	8	be	be	AUX
ejge-8767	222	9	evidence	evidence	NOUN
ejge-8767	222	10	,	,	PUNCT
ejge-8767	222	11	similar	similar	ADJ
ejge-8767	222	12	to	to	ADP
ejge-8767	222	13	daniel	daniel	PROPN
ejge-8767	222	14	,	,	PUNCT
ejge-8767	222	15	grinblatt	grinblatt	PROPN
ejge-8767	222	16	,	,	PUNCT
ejge-8767	222	17	titman	titman	NOUN
ejge-8767	222	18	and	and	CCONJ
ejge-8767	222	19	wermers	wermer	NOUN
ejge-8767	222	20	(	(	PUNCT
ejge-8767	222	21	1997	1997	NUM
ejge-8767	222	22	)	)	PUNCT
ejge-8767	222	23	or	or	CCONJ
ejge-8767	222	24	malkiel	malkiel	VERB
ejge-8767	222	25	(	(	PUNCT
ejge-8767	222	26	1995	1995	NUM
ejge-8767	222	27	)	)	PUNCT
ejge-8767	222	28	,	,	PUNCT
ejge-8767	222	29	that	that	SCONJ
ejge-8767	222	30	the	the	DET
ejge-8767	222	31	renato	renato	PROPN
ejge-8767	222	32	correia	correia	PROPN
ejge-8767	222	33	-	-	PUNCT
ejge-8767	222	34	domingues	domingue	NOUN
ejge-8767	222	35	et	et	PROPN
ejge-8767	222	36	al	al	PROPN
ejge-8767	222	37	.	.	PUNCT
ejge-8767	222	38	/	/	SYM
ejge-8767	222	39	european	european	PROPN
ejge-8767	222	40	journal	journal	PROPN
ejge-8767	222	41	of	of	ADP
ejge-8767	222	42	government	government	NOUN
ejge-8767	222	43	and	and	CCONJ
ejge-8767	222	44	economics	economic	NOUN
ejge-8767	222	45	11(1	11(1	NUM
ejge-8767	222	46	)	)	PUNCT
ejge-8767	222	47	,	,	PUNCT
ejge-8767	222	48	june	june	PROPN
ejge-8767	222	49	2022	2022	NUM
ejge-8767	222	50	,	,	PUNCT
ejge-8767	222	51	31	31	NUM
ejge-8767	222	52	-	-	SYM
ejge-8767	222	53	50	50	NUM
ejge-8767	222	54	44	44	NUM
ejge-8767	222	55	funds	fund	NOUN
ejge-8767	222	56	'	'	PART
ejge-8767	222	57	expenditures	expenditure	NOUN
ejge-8767	222	58	are	be	AUX
ejge-8767	222	59	related	relate	VERB
ejge-8767	222	60	to	to	ADP
ejge-8767	222	61	their	their	PRON
ejge-8767	222	62	performance	performance	NOUN
ejge-8767	222	63	.	.	PUNCT
ejge-8767	223	1	on	on	ADP
ejge-8767	223	2	average	average	ADJ
ejge-8767	223	3	,	,	PUNCT
ejge-8767	223	4	we	we	PRON
ejge-8767	223	5	can	can	AUX
ejge-8767	223	6	say	say	VERB
ejge-8767	223	7	that	that	SCONJ
ejge-8767	223	8	there	there	PRON
ejge-8767	223	9	is	be	VERB
ejge-8767	223	10	a	a	DET
ejge-8767	223	11	negative	negative	ADJ
ejge-8767	223	12	relationship	relationship	NOUN
ejge-8767	223	13	between	between	ADP
ejge-8767	223	14	both	both	DET
ejge-8767	223	15	variables	variable	NOUN
ejge-8767	223	16	.	.	PUNCT
ejge-8767	224	1	however	however	ADV
ejge-8767	224	2	,	,	PUNCT
ejge-8767	224	3	the	the	DET
ejge-8767	224	4	results	result	NOUN
ejge-8767	224	5	are	be	AUX
ejge-8767	224	6	consistent	consistent	ADJ
ejge-8767	224	7	with	with	ADP
ejge-8767	224	8	livingston	livingston	PROPN
ejge-8767	224	9	,	,	PUNCT
ejge-8767	224	10	yao	yao	PROPN
ejge-8767	224	11	,	,	PUNCT
ejge-8767	224	12	and	and	CCONJ
ejge-8767	224	13	zhou	zhou	PROPN
ejge-8767	224	14	(	(	PUNCT
ejge-8767	224	15	2019	2019	NUM
ejge-8767	224	16	)	)	PUNCT
ejge-8767	224	17	,	,	PUNCT
ejge-8767	224	18	showing	show	VERB
ejge-8767	224	19	that	that	SCONJ
ejge-8767	224	20	the	the	DET
ejge-8767	224	21	best	good	ADJ
ejge-8767	224	22	performing	performing	NOUN
ejge-8767	224	23	funds	fund	NOUN
ejge-8767	224	24	may	may	AUX
ejge-8767	224	25	have	have	VERB
ejge-8767	224	26	a	a	DET
ejge-8767	224	27	high	high	ADJ
ejge-8767	224	28	expense	expense	NOUN
ejge-8767	224	29	value	value	NOUN
ejge-8767	224	30	.	.	PUNCT
ejge-8767	225	1	given	give	VERB
ejge-8767	225	2	that	that	PRON
ejge-8767	225	3	,	,	PUNCT
ejge-8767	225	4	through	through	ADP
ejge-8767	225	5	quantile	quantile	ADJ
ejge-8767	225	6	regression	regression	NOUN
ejge-8767	225	7	techniques	technique	NOUN
ejge-8767	225	8	,	,	PUNCT
ejge-8767	225	9	we	we	PRON
ejge-8767	225	10	demonstrate	demonstrate	VERB
ejge-8767	225	11	the	the	DET
ejge-8767	225	12	existence	existence	NOUN
ejge-8767	225	13	of	of	ADP
ejge-8767	225	14	a	a	DET
ejge-8767	225	15	negative	negative	ADJ
ejge-8767	225	16	relationship	relationship	NOUN
ejge-8767	225	17	of	of	ADP
ejge-8767	225	18	performance	performance	NOUN
ejge-8767	225	19	expenses	expense	NOUN
ejge-8767	225	20	in	in	ADP
ejge-8767	225	21	the	the	DET
ejge-8767	225	22	worst	worst	ADV
ejge-8767	225	23	-	-	PUNCT
ejge-8767	225	24	performing	perform	VERB
ejge-8767	225	25	funds	fund	NOUN
ejge-8767	225	26	and	and	CCONJ
ejge-8767	225	27	a	a	DET
ejge-8767	225	28	positive	positive	ADJ
ejge-8767	225	29	relationship	relationship	NOUN
ejge-8767	225	30	in	in	ADP
ejge-8767	225	31	the	the	DET
ejge-8767	225	32	best	good	ADJ
ejge-8767	225	33	performing	perform	VERB
ejge-8767	225	34	funds	fund	NOUN
ejge-8767	225	35	.	.	PUNCT
ejge-8767	226	1	second	second	ADJ
ejge-8767	226	2	,	,	PUNCT
ejge-8767	226	3	we	we	PRON
ejge-8767	226	4	conclude	conclude	VERB
ejge-8767	226	5	that	that	SCONJ
ejge-8767	226	6	the	the	DET
ejge-8767	226	7	past	past	ADJ
ejge-8767	226	8	spending	spending	NOUN
ejge-8767	226	9	level	level	NOUN
ejge-8767	226	10	of	of	ADP
ejge-8767	226	11	mutual	mutual	ADJ
ejge-8767	226	12	funds	fund	NOUN
ejge-8767	226	13	can	can	AUX
ejge-8767	226	14	be	be	AUX
ejge-8767	226	15	a	a	DET
ejge-8767	226	16	good	good	ADJ
ejge-8767	226	17	indicator	indicator	NOUN
ejge-8767	226	18	for	for	ADP
ejge-8767	226	19	selecting	select	VERB
ejge-8767	226	20	funds	fund	NOUN
ejge-8767	226	21	,	,	PUNCT
ejge-8767	226	22	with	with	ADP
ejge-8767	226	23	the	the	DET
ejge-8767	226	24	objective	objective	NOUN
ejge-8767	226	25	of	of	ADP
ejge-8767	226	26	obtaining	obtain	VERB
ejge-8767	226	27	a	a	DET
ejge-8767	226	28	better	well	ADJ
ejge-8767	226	29	future	future	ADJ
ejge-8767	226	30	performance	performance	NOUN
ejge-8767	226	31	,	,	PUNCT
ejge-8767	226	32	with	with	ADP
ejge-8767	226	33	a	a	DET
ejge-8767	226	34	stronger	strong	ADJ
ejge-8767	226	35	relationship	relationship	NOUN
ejge-8767	226	36	at	at	ADP
ejge-8767	226	37	3	3	NUM
ejge-8767	226	38	years	year	NOUN
ejge-8767	226	39	than	than	ADP
ejge-8767	226	40	at	at	ADP
ejge-8767	226	41	1	1	NUM
ejge-8767	226	42	year	year	NOUN
ejge-8767	226	43	.	.	PUNCT
ejge-8767	227	1	finally	finally	ADV
ejge-8767	227	2	,	,	PUNCT
ejge-8767	227	3	by	by	ADP
ejge-8767	227	4	incorporating	incorporate	VERB
ejge-8767	227	5	the	the	DET
ejge-8767	227	6	morningstar	morningstar	PROPN
ejge-8767	227	7	star	star	PROPN
ejge-8767	227	8	ratings	rating	NOUN
ejge-8767	227	9	,	,	PUNCT
ejge-8767	227	10	we	we	PRON
ejge-8767	227	11	conclude	conclude	VERB
ejge-8767	227	12	in	in	ADP
ejge-8767	227	13	line	line	NOUN
ejge-8767	227	14	with	with	ADP
ejge-8767	227	15	morey	morey	PROPN
ejge-8767	227	16	and	and	CCONJ
ejge-8767	227	17	gottesman	gottesman	NOUN
ejge-8767	227	18	(	(	PUNCT
ejge-8767	227	19	2006	2006	NUM
ejge-8767	227	20	)	)	PUNCT
ejge-8767	227	21	,	,	PUNCT
ejge-8767	227	22	müller	müller	PROPN
ejge-8767	227	23	and	and	CCONJ
ejge-8767	227	24	weber	weber	PROPN
ejge-8767	227	25	(	(	PUNCT
ejge-8767	227	26	2014	2014	NUM
ejge-8767	227	27	)	)	PUNCT
ejge-8767	227	28	,	,	PUNCT
ejge-8767	227	29	meinhardt	meinhardt	ADJ
ejge-8767	227	30	(	(	PUNCT
ejge-8767	227	31	2014	2014	NUM
ejge-8767	227	32	)	)	PUNCT
ejge-8767	227	33	,	,	PUNCT
ejge-8767	227	34	antypas	antypas	PROPN
ejge-8767	227	35	,	,	PUNCT
ejge-8767	227	36	caporale	caporale	NOUN
ejge-8767	227	37	,	,	PUNCT
ejge-8767	227	38	kourogenis	kourogenis	NOUN
ejge-8767	227	39	and	and	CCONJ
ejge-8767	227	40	pittis	pittis	PROPN
ejge-8767	227	41	(	(	PUNCT
ejge-8767	227	42	2009	2009	NUM
ejge-8767	227	43	)	)	PUNCT
ejge-8767	227	44	and	and	CCONJ
ejge-8767	227	45	otero	otero	NOUN
ejge-8767	227	46	,	,	PUNCT
ejge-8767	227	47	durán	durán	NOUN
ejge-8767	227	48	and	and	CCONJ
ejge-8767	227	49	domingues	domingue	NOUN
ejge-8767	227	50	(	(	PUNCT
ejge-8767	227	51	2019	2019	NUM
ejge-8767	227	52	)	)	PUNCT
ejge-8767	227	53	that	that	SCONJ
ejge-8767	227	54	these	these	PRON
ejge-8767	227	55	can	can	AUX
ejge-8767	227	56	add	add	VERB
ejge-8767	227	57	useful	useful	ADJ
ejge-8767	227	58	information	information	NOUN
ejge-8767	227	59	to	to	PART
ejge-8767	227	60	select	select	VERB
ejge-8767	227	61	funds	fund	NOUN
ejge-8767	227	62	.	.	PUNCT
ejge-8767	228	1	in	in	ADP
ejge-8767	228	2	particular	particular	ADJ
ejge-8767	228	3	,	,	PUNCT
ejge-8767	228	4	we	we	PRON
ejge-8767	228	5	find	find	VERB
ejge-8767	228	6	that	that	SCONJ
ejge-8767	228	7	the	the	DET
ejge-8767	228	8	rating	rating	NOUN
ejge-8767	228	9	has	have	VERB
ejge-8767	228	10	strong	strong	ADJ
ejge-8767	228	11	predictive	predictive	ADJ
ejge-8767	228	12	power	power	NOUN
ejge-8767	228	13	in	in	ADP
ejge-8767	228	14	the	the	DET
ejge-8767	228	15	short	short	ADJ
ejge-8767	228	16	term	term	NOUN
ejge-8767	228	17	.	.	PUNCT
ejge-8767	229	1	however	however	ADV
ejge-8767	229	2	,	,	PUNCT
ejge-8767	229	3	in	in	ADP
ejge-8767	229	4	the	the	DET
ejge-8767	229	5	long	long	ADJ
ejge-8767	229	6	term	term	NOUN
ejge-8767	229	7	,	,	PUNCT
ejge-8767	229	8	spending	spending	NOUN
ejge-8767	229	9	has	have	VERB
ejge-8767	229	10	greater	great	ADJ
ejge-8767	229	11	explanatory	explanatory	ADJ
ejge-8767	229	12	power	power	NOUN
ejge-8767	229	13	.	.	PUNCT
ejge-8767	230	1	in	in	ADP
ejge-8767	230	2	this	this	DET
ejge-8767	230	3	sense	sense	NOUN
ejge-8767	230	4	,	,	PUNCT
ejge-8767	230	5	if	if	SCONJ
ejge-8767	230	6	investors	investor	NOUN
ejge-8767	230	7	use	use	VERB
ejge-8767	230	8	morningstar	morningstar	PROPN
ejge-8767	230	9	star	star	NOUN
ejge-8767	230	10	ratings	rating	NOUN
ejge-8767	230	11	and	and	CCONJ
ejge-8767	230	12	the	the	DET
ejge-8767	230	13	fund	fund	NOUN
ejge-8767	230	14	's	's	PART
ejge-8767	230	15	expense	expense	NOUN
ejge-8767	230	16	levels	level	NOUN
ejge-8767	230	17	,	,	PUNCT
ejge-8767	230	18	they	they	PRON
ejge-8767	230	19	can	can	AUX
ejge-8767	230	20	improve	improve	VERB
ejge-8767	230	21	the	the	DET
ejge-8767	230	22	selection	selection	NOUN
ejge-8767	230	23	process	process	NOUN
ejge-8767	230	24	for	for	ADP
ejge-8767	230	25	short	short	ADJ
ejge-8767	230	26	and	and	CCONJ
ejge-8767	230	27	long	long	ADJ
ejge-8767	230	28	-	-	PUNCT
ejge-8767	230	29	term	term	NOUN
ejge-8767	230	30	mutual	mutual	ADJ
ejge-8767	230	31	funds	fund	NOUN
ejge-8767	230	32	.	.	PUNCT
ejge-8767	231	1	therefore	therefore	ADV
ejge-8767	231	2	,	,	PUNCT
ejge-8767	231	3	we	we	PRON
ejge-8767	231	4	can	can	AUX
ejge-8767	231	5	conclude	conclude	VERB
ejge-8767	231	6	that	that	SCONJ
ejge-8767	231	7	spending	spending	NOUN
ejge-8767	231	8	is	be	AUX
ejge-8767	231	9	an	an	DET
ejge-8767	231	10	important	important	ADJ
ejge-8767	231	11	variable	variable	NOUN
ejge-8767	231	12	in	in	ADP
ejge-8767	231	13	selecting	select	VERB
ejge-8767	231	14	the	the	DET
ejge-8767	231	15	most	most	ADV
ejge-8767	231	16	profitable	profitable	ADJ
ejge-8767	231	17	funds	fund	NOUN
ejge-8767	231	18	in	in	ADP
ejge-8767	231	19	the	the	DET
ejge-8767	231	20	short	short	ADJ
ejge-8767	231	21	and	and	CCONJ
ejge-8767	231	22	medium	medium	ADJ
ejge-8767	231	23	term	term	NOUN
ejge-8767	231	24	.	.	PUNCT
ejge-8767	232	1	however	however	ADV
ejge-8767	232	2	,	,	PUNCT
ejge-8767	232	3	other	other	ADJ
ejge-8767	232	4	variables	variable	NOUN
ejge-8767	232	5	need	need	VERB
ejge-8767	232	6	to	to	PART
ejge-8767	232	7	be	be	AUX
ejge-8767	232	8	added	add	VERB
ejge-8767	232	9	to	to	PART
ejge-8767	232	10	understand	understand	VERB
ejge-8767	232	11	the	the	DET
ejge-8767	232	12	determinants	determinant	NOUN
ejge-8767	232	13	of	of	ADP
ejge-8767	232	14	their	their	PRON
ejge-8767	232	15	performance	performance	NOUN
ejge-8767	232	16	better	well	ADV
ejge-8767	232	17	.	.	PUNCT
ejge-8767	233	1	as	as	SCONJ
ejge-8767	233	2	we	we	PRON
ejge-8767	233	3	discussed	discuss	VERB
ejge-8767	233	4	earlier	early	ADV
ejge-8767	233	5	,	,	PUNCT
ejge-8767	233	6	there	there	PRON
ejge-8767	233	7	are	be	VERB
ejge-8767	233	8	multiple	multiple	ADJ
ejge-8767	233	9	metrics	metric	NOUN
ejge-8767	233	10	that	that	PRON
ejge-8767	233	11	investors	investor	NOUN
ejge-8767	233	12	can	can	AUX
ejge-8767	233	13	use	use	VERB
ejge-8767	233	14	.	.	PUNCT
ejge-8767	234	1	in	in	ADP
ejge-8767	234	2	this	this	DET
ejge-8767	234	3	way	way	NOUN
ejge-8767	234	4	,	,	PUNCT
ejge-8767	234	5	as	as	ADP
ejge-8767	234	6	a	a	DET
ejge-8767	234	7	limitation	limitation	NOUN
ejge-8767	234	8	of	of	ADP
ejge-8767	234	9	this	this	DET
ejge-8767	234	10	work	work	NOUN
ejge-8767	234	11	,	,	PUNCT
ejge-8767	234	12	we	we	PRON
ejge-8767	234	13	have	have	VERB
ejge-8767	234	14	to	to	PART
ejge-8767	234	15	indicate	indicate	VERB
ejge-8767	234	16	,	,	PUNCT
ejge-8767	234	17	it	it	PRON
ejge-8767	234	18	could	could	AUX
ejge-8767	234	19	be	be	AUX
ejge-8767	234	20	that	that	SCONJ
ejge-8767	234	21	other	other	ADJ
ejge-8767	234	22	metrics	metric	NOUN
ejge-8767	234	23	not	not	PART
ejge-8767	234	24	analysed	analyse	VERB
ejge-8767	234	25	did	do	AUX
ejge-8767	234	26	not	not	PART
ejge-8767	234	27	maintain	maintain	VERB
ejge-8767	234	28	the	the	DET
ejge-8767	234	29	results	result	NOUN
ejge-8767	234	30	achieved	achieve	VERB
ejge-8767	234	31	in	in	ADP
ejge-8767	234	32	this	this	DET
ejge-8767	234	33	article	article	NOUN
ejge-8767	234	34	,	,	PUNCT
ejge-8767	234	35	since	since	SCONJ
ejge-8767	234	36	not	not	PART
ejge-8767	234	37	all	all	PRON
ejge-8767	234	38	have	have	AUX
ejge-8767	234	39	been	be	AUX
ejge-8767	234	40	analysed	analyse	VERB
ejge-8767	234	41	.	.	PUNCT
ejge-8767	235	1	the	the	DET
ejge-8767	235	2	use	use	NOUN
ejge-8767	235	3	of	of	ADP
ejge-8767	235	4	dynamic	dynamic	ADJ
ejge-8767	235	5	models	model	NOUN
ejge-8767	235	6	and	and	CCONJ
ejge-8767	235	7	incorporating	incorporate	VERB
ejge-8767	235	8	other	other	ADJ
ejge-8767	235	9	variables	variable	NOUN
ejge-8767	235	10	into	into	ADP
ejge-8767	235	11	the	the	DET
ejge-8767	235	12	models	model	NOUN
ejge-8767	235	13	are	be	AUX
ejge-8767	235	14	proposed	propose	VERB
ejge-8767	235	15	for	for	ADP
ejge-8767	235	16	future	future	ADJ
ejge-8767	235	17	research	research	NOUN
ejge-8767	235	18	.	.	PUNCT
ejge-8767	236	1	renato	renato	PROPN
ejge-8767	236	2	correia	correia	PROPN
ejge-8767	236	3	-	-	PUNCT
ejge-8767	236	4	domingues	domingue	NOUN
ejge-8767	236	5	et	et	PROPN
ejge-8767	236	6	al	al	PROPN
ejge-8767	236	7	.	.	PUNCT
ejge-8767	236	8	/	/	SYM
ejge-8767	236	9	european	european	PROPN
ejge-8767	236	10	journal	journal	PROPN
ejge-8767	236	11	of	of	ADP
ejge-8767	236	12	government	government	NOUN
ejge-8767	236	13	and	and	CCONJ
ejge-8767	236	14	economics	economic	NOUN
ejge-8767	236	15	11(1	11(1	NUM
ejge-8767	236	16	)	)	PUNCT
ejge-8767	236	17	,	,	PUNCT
ejge-8767	236	18	june	june	PROPN
ejge-8767	236	19	2022	2022	NUM
ejge-8767	236	20	,	,	PUNCT
ejge-8767	236	21	31	31	NUM
ejge-8767	236	22	-	-	SYM
ejge-8767	236	23	50	50	NUM
ejge-8767	236	24	45	45	NUM
ejge-8767	236	25	references	reference	NOUN
ejge-8767	236	26	alexander	alexander	PROPN
ejge-8767	236	27	,	,	PUNCT
ejge-8767	236	28	g.	g.	PROPN
ejge-8767	236	29	,	,	PUNCT
ejge-8767	236	30	jones	jones	PROPN
ejge-8767	236	31	,	,	PUNCT
ejge-8767	236	32	j.	j.	PROPN
ejge-8767	236	33	,	,	PUNCT
ejge-8767	236	34	&	&	CCONJ
ejge-8767	236	35	nigro	nigro	NOUN
ejge-8767	236	36	,	,	PUNCT
ejge-8767	236	37	p.	p.	NOUN
ejge-8767	236	38	(	(	PUNCT
ejge-8767	236	39	1998	1998	NUM
ejge-8767	236	40	)	)	PUNCT
ejge-8767	236	41	.	.	PUNCT
ejge-8767	237	1	mutual	mutual	ADJ
ejge-8767	237	2	fund	fund	NOUN
ejge-8767	237	3	shareholders	shareholder	NOUN
ejge-8767	237	4	:	:	PUNCT
ejge-8767	237	5	characteristics	characteristic	NOUN
ejge-8767	237	6	,	,	PUNCT
ejge-8767	237	7	investor	investor	NOUN
ejge-8767	237	8	knowledge	knowledge	NOUN
ejge-8767	237	9	,	,	PUNCT
ejge-8767	237	10	and	and	CCONJ
ejge-8767	237	11	sources	source	NOUN
ejge-8767	237	12	of	of	ADP
ejge-8767	237	13	information	information	NOUN
ejge-8767	237	14	.	.	PUNCT
ejge-8767	238	1	financial	financial	ADJ
ejge-8767	238	2	services	service	NOUN
ejge-8767	238	3	review	review	PROPN
ejge-8767	238	4	,	,	PUNCT
ejge-8767	238	5	7	7	NUM
ejge-8767	238	6	(	(	PUNCT
ejge-8767	238	7	4	4	NUM
ejge-8767	238	8	)	)	PUNCT
ejge-8767	238	9	,	,	PUNCT
ejge-8767	238	10	301	301	NUM
ejge-8767	238	11	-	-	SYM
ejge-8767	238	12	316	316	NUM
ejge-8767	238	13	.	.	PUNCT
ejge-8767	239	1	https://doi.org/10.1016/s1057-0810(99)00023-2	https://doi.org/10.1016/s1057-0810(99)00023-2	PROPN
ejge-8767	239	2	antypas	antypas	PROPN
ejge-8767	239	3	,	,	PUNCT
ejge-8767	239	4	a.	a.	NOUN
ejge-8767	239	5	,	,	PUNCT
ejge-8767	239	6	caporale	caporale	NOUN
ejge-8767	239	7	,	,	PUNCT
ejge-8767	239	8	g.	g.	PROPN
ejge-8767	239	9	m.	m.	PROPN
ejge-8767	239	10	,	,	PUNCT
ejge-8767	239	11	kourogenis	kourogenis	PROPN
ejge-8767	239	12	,	,	PUNCT
ejge-8767	239	13	n.	n.	NOUN
ejge-8767	239	14	,	,	PUNCT
ejge-8767	239	15	&	&	CCONJ
ejge-8767	239	16	pittis	pittis	PROPN
ejge-8767	239	17	,	,	PUNCT
ejge-8767	239	18	n.	n.	NOUN
ejge-8767	239	19	(	(	PUNCT
ejge-8767	239	20	2009	2009	NUM
ejge-8767	239	21	)	)	PUNCT
ejge-8767	239	22	.	.	PUNCT
ejge-8767	240	1	selectivity	selectivity	NOUN
ejge-8767	240	2	,	,	PUNCT
ejge-8767	240	3	market	market	NOUN
ejge-8767	240	4	timing	timing	NOUN
ejge-8767	240	5	and	and	CCONJ
ejge-8767	240	6	the	the	DET
ejge-8767	240	7	morningstar	morningstar	PROPN
ejge-8767	240	8	star	star	NOUN
ejge-8767	240	9	-	-	PUNCT
ejge-8767	240	10	rating	rating	NOUN
ejge-8767	240	11	system	system	NOUN
ejge-8767	240	12	.	.	PUNCT
ejge-8767	241	1	https://doi.org/10.2139/ssrn.1360637	https://doi.org/10.2139/ssrn.1360637	PROPN
ejge-8767	241	2	armstrong	armstrong	PROPN
ejge-8767	241	3	,	,	PUNCT
ejge-8767	241	4	w.	w.	PROPN
ejge-8767	241	5	,	,	PUNCT
ejge-8767	241	6	genc	genc	PROPN
ejge-8767	241	7	,	,	PUNCT
ejge-8767	241	8	e.	e.	PROPN
ejge-8767	241	9	,	,	PUNCT
ejge-8767	241	10	&	&	CCONJ
ejge-8767	241	11	verbeek	verbeek	PROPN
ejge-8767	241	12	,	,	PUNCT
ejge-8767	241	13	m.	m.	NOUN
ejge-8767	241	14	(	(	PUNCT
ejge-8767	241	15	2018	2018	NUM
ejge-8767	241	16	)	)	PUNCT
ejge-8767	241	17	)	)	PUNCT
ejge-8767	241	18	.	.	PUNCT
ejge-8767	242	1	going	go	VERB
ejge-8767	242	2	for	for	ADP
ejge-8767	242	3	gold	gold	NOUN
ejge-8767	242	4	:	:	PUNCT
ejge-8767	242	5	an	an	DET
ejge-8767	242	6	analysis	analysis	NOUN
ejge-8767	242	7	of	of	ADP
ejge-8767	242	8	morningstar	morningstar	NOUN
ejge-8767	242	9	analyst	analyst	NOUN
ejge-8767	242	10	ratings	rating	NOUN
ejge-8767	242	11	.	.	PUNCT
ejge-8767	243	1	management	management	NOUN
ejge-8767	243	2	science	science	NOUN
ejge-8767	243	3	.	.	PUNCT
ejge-8767	244	1	65	65	NUM
ejge-8767	244	2	,	,	PUNCT
ejge-8767	244	3	5	5	NUM
ejge-8767	244	4	.	.	PUNCT
ejge-8767	245	1	https://doi.org/10.1287/mnsc.2017.2884	https://doi.org/10.1287/mnsc.2017.2884	PROPN
ejge-8767	245	2	baltagi	baltagi	NOUN
ejge-8767	245	3	,	,	PUNCT
ejge-8767	245	4	b.	b.	PROPN
ejge-8767	245	5	(	(	PUNCT
ejge-8767	245	6	2010	2010	NUM
ejge-8767	245	7	)	)	PUNCT
ejge-8767	245	8	.	.	PUNCT
ejge-8767	246	1	econometric	econometric	ADJ
ejge-8767	246	2	analysis	analysis	NOUN
ejge-8767	246	3	of	of	ADP
ejge-8767	246	4	panel	panel	NOUN
ejge-8767	246	5	data	datum	NOUN
ejge-8767	246	6	(	(	PUNCT
ejge-8767	246	7	fourth	fourth	ADJ
ejge-8767	246	8	ed	ed	NOUN
ejge-8767	246	9	ed	ed	PROPN
ejge-8767	246	10	.	.	PROPN
ejge-8767	246	11	):	):	PUNCT
ejge-8767	246	12	john	john	PROPN
ejge-8767	246	13	wiley	wiley	PROPN
ejge-8767	246	14	london	london	PROPN
ejge-8767	246	15	.	.	PUNCT
ejge-8767	247	1	berk	berk	PROPN
ejge-8767	247	2	,	,	PUNCT
ejge-8767	247	3	j.	j.	PROPN
ejge-8767	247	4	&	&	CCONJ
ejge-8767	247	5	green	green	PROPN
ejge-8767	247	6	,	,	PUNCT
ejge-8767	247	7	r.	r.	PROPN
ejge-8767	247	8	(	(	PUNCT
ejge-8767	247	9	2004	2004	NUM
ejge-8767	247	10	)	)	PUNCT
ejge-8767	247	11	.	.	PUNCT
ejge-8767	248	1	mutual	mutual	ADJ
ejge-8767	248	2	fund	fund	NOUN
ejge-8767	248	3	flows	flow	NOUN
ejge-8767	248	4	and	and	CCONJ
ejge-8767	248	5	performance	performance	NOUN
ejge-8767	248	6	in	in	ADP
ejge-8767	248	7	rational	rational	ADJ
ejge-8767	248	8	markets	market	NOUN
ejge-8767	248	9	.	.	PUNCT
ejge-8767	249	1	journal	journal	NOUN
ejge-8767	249	2	of	of	ADP
ejge-8767	249	3	political	political	ADJ
ejge-8767	249	4	economy	economy	NOUN
ejge-8767	249	5	,	,	PUNCT
ejge-8767	249	6	112	112	NUM
ejge-8767	249	7	,	,	PUNCT
ejge-8767	249	8	1269	1269	NUM
ejge-8767	249	9	-	-	SYM
ejge-8767	249	10	1295	1295	NUM
ejge-8767	249	11	.	.	PUNCT
ejge-8767	250	1	https://doi.org/10.1086/424739	https://doi.org/10.1086/424739	NOUN
ejge-8767	250	2	blake	blake	PROPN
ejge-8767	250	3	,	,	PUNCT
ejge-8767	250	4	c.	c.	PROPN
ejge-8767	250	5	,	,	PUNCT
ejge-8767	250	6	&	&	CCONJ
ejge-8767	250	7	morey	morey	PROPN
ejge-8767	250	8	,	,	PUNCT
ejge-8767	250	9	m.	m.	NOUN
ejge-8767	250	10	(	(	PUNCT
ejge-8767	250	11	2000	2000	NUM
ejge-8767	250	12	)	)	PUNCT
ejge-8767	250	13	.	.	PUNCT
ejge-8767	251	1	morningstar	morningstar	NOUN
ejge-8767	251	2	ratings	rating	NOUN
ejge-8767	251	3	and	and	CCONJ
ejge-8767	251	4	mutual	mutual	ADJ
ejge-8767	251	5	fund	fund	NOUN
ejge-8767	251	6	performance	performance	NOUN
ejge-8767	251	7	.	.	PUNCT
ejge-8767	252	1	journal	journal	NOUN
ejge-8767	252	2	of	of	ADP
ejge-8767	252	3	financial	financial	ADJ
ejge-8767	252	4	and	and	CCONJ
ejge-8767	252	5	quantitative	quantitative	ADJ
ejge-8767	252	6	analysis	analysis	NOUN
ejge-8767	252	7	,	,	PUNCT
ejge-8767	252	8	35(3	35(3	NUM
ejge-8767	252	9	)	)	PUNCT
ejge-8767	252	10	,	,	PUNCT
ejge-8767	252	11	451	451	NUM
ejge-8767	252	12	-	-	SYM
ejge-8767	252	13	483	483	NUM
ejge-8767	252	14	.	.	PUNCT
ejge-8767	253	1	https://doi.org/10.2307/2676213	https://doi.org/10.2307/2676213	NOUN
ejge-8767	253	2	cahart	cahart	NOUN
ejge-8767	253	3	,	,	PUNCT
ejge-8767	253	4	m.	m.	NOUN
ejge-8767	253	5	(	(	PUNCT
ejge-8767	253	6	1997	1997	NUM
ejge-8767	253	7	)	)	PUNCT
ejge-8767	253	8	.	.	PUNCT
ejge-8767	254	1	on	on	ADP
ejge-8767	254	2	persistence	persistence	NOUN
ejge-8767	254	3	in	in	ADP
ejge-8767	254	4	mutual	mutual	ADJ
ejge-8767	254	5	fund	fund	NOUN
ejge-8767	254	6	performance	performance	NOUN
ejge-8767	254	7	.	.	PUNCT
ejge-8767	255	1	journal	journal	PROPN
ejge-8767	255	2	of	of	ADP
ejge-8767	255	3	finance	finance	NOUN
ejge-8767	255	4	,	,	PUNCT
ejge-8767	255	5	52	52	NUM
ejge-8767	255	6	(	(	PUNCT
ejge-8767	255	7	1	1	NUM
ejge-8767	255	8	)	)	PUNCT
ejge-8767	255	9	,	,	PUNCT
ejge-8767	255	10	5782	5782	NUM
ejge-8767	255	11	.	.	PUNCT
ejge-8767	256	1	https://doi.org/10.1111/j.1540-6261.1997.tb03808.x	https://doi.org/10.1111/j.1540-6261.1997.tb03808.x	NOUN
ejge-8767	256	2	capon	capon	NOUN
ejge-8767	256	3	,	,	PUNCT
ejge-8767	256	4	n.	n.	NOUN
ejge-8767	256	5	,	,	PUNCT
ejge-8767	256	6	fitzsimons	fitzsimon	NOUN
ejge-8767	256	7	,	,	PUNCT
ejge-8767	256	8	g.	g.	PROPN
ejge-8767	256	9	,	,	PUNCT
ejge-8767	256	10	&	&	CCONJ
ejge-8767	256	11	prince	prince	PROPN
ejge-8767	256	12	,	,	PUNCT
ejge-8767	256	13	r.	r.	PROPN
ejge-8767	256	14	(	(	PUNCT
ejge-8767	256	15	1996	1996	NUM
ejge-8767	256	16	)	)	PUNCT
ejge-8767	256	17	.	.	PUNCT
ejge-8767	257	1	and	and	CCONJ
ejge-8767	257	2	individual	individual	ADJ
ejge-8767	257	3	level	level	NOUN
ejge-8767	257	4	analysis	analysis	NOUN
ejge-8767	257	5	of	of	ADP
ejge-8767	257	6	the	the	DET
ejge-8767	257	7	mutual	mutual	ADJ
ejge-8767	257	8	fund	fund	NOUN
ejge-8767	257	9	investment	investment	NOUN
ejge-8767	257	10	decision	decision	NOUN
ejge-8767	257	11	.	.	PUNCT
ejge-8767	258	1	journal	journal	NOUN
ejge-8767	258	2	of	of	ADP
ejge-8767	258	3	financial	financial	ADJ
ejge-8767	258	4	services	service	NOUN
ejge-8767	258	5	research	research	NOUN
ejge-8767	258	6	,	,	PUNCT
ejge-8767	258	7	10	10	NUM
ejge-8767	258	8	,	,	PUNCT
ejge-8767	258	9	59	59	NUM
ejge-8767	258	10	-	-	SYM
ejge-8767	258	11	82	82	NUM
ejge-8767	258	12	.	.	PUNCT
ejge-8767	259	1	https://doi.org/10.1007/bf00120146	https://doi.org/10.1007/bf00120146	ADJ
ejge-8767	259	2	chalmers	chalmer	NOUN
ejge-8767	259	3	,	,	PUNCT
ejge-8767	259	4	j.	j.	PROPN
ejge-8767	259	5	,	,	PUNCT
ejge-8767	259	6	edelen	edelen	PROPN
ejge-8767	259	7	,	,	PUNCT
ejge-8767	259	8	r.	r.	PROPN
ejge-8767	259	9	,	,	PUNCT
ejge-8767	259	10	&	&	CCONJ
ejge-8767	259	11	kadlec	kadlec	PROPN
ejge-8767	259	12	,	,	PUNCT
ejge-8767	259	13	g.	g.	PROPN
ejge-8767	259	14	(	(	PUNCT
ejge-8767	259	15	1999	1999	NUM
ejge-8767	259	16	)	)	PUNCT
ejge-8767	259	17	.	.	PUNCT
ejge-8767	260	1	an	an	DET
ejge-8767	260	2	analysis	analysis	NOUN
ejge-8767	260	3	of	of	ADP
ejge-8767	260	4	mutual	mutual	ADJ
ejge-8767	260	5	fund	fund	NOUN
ejge-8767	260	6	trading	trading	NOUN
ejge-8767	260	7	costs	cost	NOUN
ejge-8767	260	8	.	.	PUNCT
ejge-8767	261	1	ssrn	ssrn	NOUN
ejge-8767	261	2	.	.	PUNCT
ejge-8767	262	1	https://doi.org/10.2139/ssrn.195849	https://doi.org/10.2139/ssrn.195849	PROPN
ejge-8767	262	2	chen	chen	PROPN
ejge-8767	262	3	,	,	PUNCT
ejge-8767	262	4	c.	c.	PROPN
ejge-8767	262	5	r.	r.	PROPN
ejge-8767	262	6	,	,	PUNCT
ejge-8767	262	7	&	&	CCONJ
ejge-8767	262	8	huang	huang	PROPN
ejge-8767	262	9	,	,	PUNCT
ejge-8767	262	10	y.	y.	PROPN
ejge-8767	262	11	(	(	PUNCT
ejge-8767	262	12	2011	2011	NUM
ejge-8767	262	13	)	)	PUNCT
ejge-8767	262	14	.	.	PUNCT
ejge-8767	263	1	mutual	mutual	ADJ
ejge-8767	263	2	fund	fund	NOUN
ejge-8767	263	3	governance	governance	NOUN
ejge-8767	263	4	and	and	CCONJ
ejge-8767	263	5	performance	performance	NOUN
ejge-8767	263	6	:	:	PUNCT
ejge-8767	263	7	a	a	DET
ejge-8767	263	8	quantile	quantile	ADJ
ejge-8767	263	9	regression	regression	NOUN
ejge-8767	263	10	analysis	analysis	NOUN
ejge-8767	263	11	of	of	ADP
ejge-8767	263	12	morningstar	morningstar	PROPN
ejge-8767	263	13	’s	’s	PART
ejge-8767	263	14	stewardship	stewardship	NOUN
ejge-8767	263	15	grade	grade	NOUN
ejge-8767	263	16	.	.	PUNCT
ejge-8767	264	1	corporate	corporate	ADJ
ejge-8767	264	2	governance	governance	NOUN
ejge-8767	264	3	:	:	PUNCT
ejge-8767	264	4	an	an	DET
ejge-8767	264	5	international	international	ADJ
ejge-8767	264	6	review	review	NOUN
ejge-8767	264	7	,	,	PUNCT
ejge-8767	264	8	19(4	19(4	PROPN
ejge-8767	264	9	)	)	PUNCT
ejge-8767	264	10	,	,	PUNCT
ejge-8767	264	11	311–333	311–333	NUM
ejge-8767	264	12	.	.	PUNCT
ejge-8767	265	1	https://doi.org/10.1111/j.1467-8683.2011.00858.x	https://doi.org/10.1111/j.1467-8683.2011.00858.x	ADJ
ejge-8767	265	2	chotivetthamrong	chotivetthamrong	NOUN
ejge-8767	265	3	,	,	PUNCT
ejge-8767	265	4	c.	c.	NOUN
ejge-8767	265	5	(	(	PUNCT
ejge-8767	265	6	2015	2015	NUM
ejge-8767	265	7	)	)	PUNCT
ejge-8767	265	8	.	.	PUNCT
ejge-8767	266	1	the	the	DET
ejge-8767	266	2	performance	performance	NOUN
ejge-8767	266	3	of	of	ADP
ejge-8767	266	4	thai	thai	PROPN
ejge-8767	266	5	mutual	mutual	ADJ
ejge-8767	266	6	funds	fund	NOUN
ejge-8767	266	7	:	:	PUNCT
ejge-8767	266	8	a	a	DET
ejge-8767	266	9	5	5	NUM
ejge-8767	266	10	-	-	PUNCT
ejge-8767	266	11	star	star	NOUN
ejge-8767	266	12	.	.	PUNCT
ejge-8767	266	13	journal	journal	PROPN
ejge-8767	266	14	of	of	ADP
ejge-8767	266	15	economics	economic	NOUN
ejge-8767	266	16	,	,	PUNCT
ejge-8767	266	17	business	business	NOUN
ejge-8767	266	18	and	and	CCONJ
ejge-8767	266	19	management	management	NOUN
ejge-8767	266	20	,	,	PUNCT
ejge-8767	266	21	3	3	NUM
ejge-8767	266	22	(	(	PUNCT
ejge-8767	266	23	1	1	NUM
ejge-8767	266	24	)	)	PUNCT
ejge-8767	266	25	.	.	PUNCT
ejge-8767	267	1	https://doi.org/10.7763/joebm.2015.v3.163	https://doi.org/10.7763/joebm.2015.v3.163	PROPN
ejge-8767	267	2	corporation	corporation	PROPN
ejge-8767	267	3	,	,	PUNCT
ejge-8767	267	4	f.	f.	PROPN
ejge-8767	267	5	r.	r.	PROPN
ejge-8767	267	6	(	(	PUNCT
ejge-8767	267	7	2002	2002	NUM
ejge-8767	267	8	)	)	PUNCT
ejge-8767	267	9	.	.	PUNCT
ejge-8767	268	1	predicting	predict	VERB
ejge-8767	268	2	mutual	mutual	ADJ
ejge-8767	268	3	fund	fund	NOUN
ejge-8767	268	4	performance	performance	NOUN
ejge-8767	268	5	ii	ii	PROPN
ejge-8767	268	6	:	:	PUNCT
ejge-8767	268	7	after	after	ADP
ejge-8767	268	8	the	the	DET
ejge-8767	268	9	bear.boston	bear.boston	PROPN
ejge-8767	268	10	.	.	PUNCT
ejge-8767	268	11	financial	financial	ADJ
ejge-8767	268	12	research	research	NOUN
ejge-8767	268	13	corporation	corporation	NOUN
ejge-8767	268	14	publications	publication	NOUN
ejge-8767	268	15	.	.	PUNCT
ejge-8767	269	1	cremers	cremer	NOUN
ejge-8767	269	2	,	,	PUNCT
ejge-8767	269	3	m.	m.	NOUN
ejge-8767	269	4	,	,	PUNCT
ejge-8767	269	5	&	&	CCONJ
ejge-8767	269	6	petajisto	petajisto	PROPN
ejge-8767	269	7	,	,	PUNCT
ejge-8767	269	8	a.	a.	NOUN
ejge-8767	269	9	(	(	PUNCT
ejge-8767	269	10	2009	2009	NUM
ejge-8767	269	11	)	)	PUNCT
ejge-8767	269	12	.	.	PUNCT
ejge-8767	270	1	how	how	SCONJ
ejge-8767	270	2	active	active	ADJ
ejge-8767	270	3	is	be	AUX
ejge-8767	270	4	your	your	PRON
ejge-8767	270	5	fund	fund	NOUN
ejge-8767	270	6	manager	manager	NOUN
ejge-8767	270	7	?	?	PUNCT
ejge-8767	271	1	a	a	DET
ejge-8767	271	2	new	new	ADJ
ejge-8767	271	3	measure	measure	NOUN
ejge-8767	271	4	that	that	PRON
ejge-8767	271	5	predicts	predict	VERB
ejge-8767	271	6	performance	performance	NOUN
ejge-8767	271	7	.	.	PUNCT
ejge-8767	272	1	review	review	NOUN
ejge-8767	272	2	of	of	ADP
ejge-8767	272	3	financial	financial	ADJ
ejge-8767	272	4	studies	study	NOUN
ejge-8767	272	5	,	,	PUNCT
ejge-8767	272	6	22(9	22(9	NUM
ejge-8767	272	7	):	):	PUNCT
ejge-8767	272	8	3329–3365	3329–3365	NOUN
ejge-8767	272	9	.	.	PUNCT
ejge-8767	273	1	https://doi.org/10.1093/rfs/hhp057	https://doi.org/10.1093/rfs/hhp057	NOUN
ejge-8767	273	2	cogneau	cogneau	NOUN
ejge-8767	273	3	,	,	PUNCT
ejge-8767	273	4	p.	p.	NOUN
ejge-8767	273	5	,	,	PUNCT
ejge-8767	273	6	&	&	CCONJ
ejge-8767	273	7	hübner	hübner	NOUN
ejge-8767	273	8	,	,	PUNCT
ejge-8767	273	9	g.	g.	PROPN
ejge-8767	273	10	(	(	PUNCT
ejge-8767	273	11	2009a	2009a	NUM
ejge-8767	273	12	)	)	PUNCT
ejge-8767	273	13	.	.	PUNCT
ejge-8767	274	1	the	the	DET
ejge-8767	274	2	(	(	PUNCT
ejge-8767	274	3	more	more	ADJ
ejge-8767	274	4	than	than	ADP
ejge-8767	274	5	)	)	PUNCT
ejge-8767	274	6	100	100	NUM
ejge-8767	274	7	ways	way	NOUN
ejge-8767	274	8	to	to	PART
ejge-8767	274	9	measure	measure	VERB
ejge-8767	274	10	portfolio	portfolio	NOUN
ejge-8767	274	11	performance	performance	NOUN
ejge-8767	274	12	.	.	PUNCT
ejge-8767	275	1	part	part	NOUN
ejge-8767	275	2	1	1	NUM
ejge-8767	275	3	:	:	PUNCT
ejge-8767	275	4	standardized	standardized	ADJ
ejge-8767	275	5	risk	risk	NOUN
ejge-8767	275	6	-	-	PUNCT
ejge-8767	275	7	adjusted	adjust	VERB
ejge-8767	275	8	measures	measure	NOUN
ejge-8767	275	9	.	.	PUNCT
ejge-8767	276	1	journal	journal	NOUN
ejge-8767	276	2	of	of	ADP
ejge-8767	276	3	performance	performance	NOUN
ejge-8767	276	4	measurement	measurement	NOUN
ejge-8767	276	5	,	,	PUNCT
ejge-8767	276	6	13	13	NUM
ejge-8767	276	7	,	,	PUNCT
ejge-8767	276	8	5671	5671	NUM
ejge-8767	276	9	cogneau	cogneau	NOUN
ejge-8767	276	10	,	,	PUNCT
ejge-8767	276	11	p.	p.	NOUN
ejge-8767	276	12	,	,	PUNCT
ejge-8767	276	13	&	&	CCONJ
ejge-8767	276	14	hübner	hübner	NOUN
ejge-8767	276	15	,	,	PUNCT
ejge-8767	276	16	g.	g.	PROPN
ejge-8767	276	17	(	(	PUNCT
ejge-8767	276	18	2009b	2009b	NUM
ejge-8767	276	19	)	)	PUNCT
ejge-8767	276	20	.	.	PUNCT
ejge-8767	277	1	the	the	DET
ejge-8767	277	2	(	(	PUNCT
ejge-8767	277	3	more	more	ADJ
ejge-8767	277	4	than	than	ADP
ejge-8767	277	5	)	)	PUNCT
ejge-8767	277	6	100	100	NUM
ejge-8767	277	7	ways	way	NOUN
ejge-8767	277	8	to	to	PART
ejge-8767	277	9	measure	measure	VERB
ejge-8767	277	10	portfolio	portfolio	NOUN
ejge-8767	277	11	performance	performance	NOUN
ejge-8767	277	12	:	:	PUNCT
ejge-8767	277	13	part	part	NOUN
ejge-8767	277	14	2	2	NUM
ejge-8767	277	15	:	:	PUNCT
ejge-8767	277	16	special	special	ADJ
ejge-8767	277	17	measures	measure	NOUN
ejge-8767	277	18	and	and	CCONJ
ejge-8767	277	19	comparison	comparison	NOUN
ejge-8767	277	20	.	.	PUNCT
ejge-8767	278	1	journal	journal	NOUN
ejge-8767	278	2	of	of	ADP
ejge-8767	278	3	performance	performance	NOUN
ejge-8767	278	4	measurement	measurement	NOUN
ejge-8767	278	5	,	,	PUNCT
ejge-8767	278	6	14	14	NUM
ejge-8767	278	7	,	,	PUNCT
ejge-8767	278	8	56	56	NUM
ejge-8767	278	9	-	-	SYM
ejge-8767	278	10	69	69	NUM
ejge-8767	278	11	.	.	PUNCT
ejge-8767	279	1	daniel	daniel	PROPN
ejge-8767	279	2	,	,	PUNCT
ejge-8767	279	3	k.	k.	PROPN
ejge-8767	279	4	,	,	PUNCT
ejge-8767	279	5	grinblatt	grinblatt	PROPN
ejge-8767	279	6	,	,	PUNCT
ejge-8767	279	7	m.	m.	NOUN
ejge-8767	279	8	,	,	PUNCT
ejge-8767	279	9	titman	titman	NOUN
ejge-8767	279	10	,	,	PUNCT
ejge-8767	279	11	s.	s.	PROPN
ejge-8767	279	12	,	,	PUNCT
ejge-8767	279	13	&	&	CCONJ
ejge-8767	279	14	wermers	wermer	NOUN
ejge-8767	279	15	,	,	PUNCT
ejge-8767	279	16	r.	r.	PROPN
ejge-8767	279	17	(	(	PUNCT
ejge-8767	279	18	1997	1997	NUM
ejge-8767	279	19	)	)	PUNCT
ejge-8767	279	20	.	.	PUNCT
ejge-8767	280	1	measuring	measure	VERB
ejge-8767	280	2	mutual	mutual	ADJ
ejge-8767	280	3	fund	fund	NOUN
ejge-8767	280	4	performance	performance	NOUN
ejge-8767	280	5	with	with	ADP
ejge-8767	280	6	characteristic‐based	characteristic‐base	VERB
ejge-8767	280	7	benchmarks	benchmark	NOUN
ejge-8767	280	8	.	.	PUNCT
ejge-8767	281	1	journal	journal	NOUN
ejge-8767	281	2	of	of	ADP
ejge-8767	281	3	finance	finance	NOUN
ejge-8767	281	4	,	,	PUNCT
ejge-8767	281	5	(	(	PUNCT
ejge-8767	281	6	53)2,1035	53)2,1035	NUM
ejge-8767	281	7	-	-	SYM
ejge-8767	281	8	1058	1058	NUM
ejge-8767	281	9	.	.	PUNCT
ejge-8767	282	1	https://doi.org/10.1111/j.1540-6261.1997.tb02724.x	https://doi.org/10.1111/j.1540-6261.1997.tb02724.x	PROPN
ejge-8767	282	2	díaz	díaz	PROPN
ejge-8767	282	3	-	-	PUNCT
ejge-8767	282	4	mendoza	mendoza	PROPN
ejge-8767	282	5	,	,	PUNCT
ejge-8767	282	6	a.	a.	PROPN
ejge-8767	282	7	c.	c.	PROPN
ejge-8767	282	8	,	,	PUNCT
ejge-8767	282	9	lópez	lópez	PROPN
ejge-8767	282	10	-	-	PUNCT
ejge-8767	282	11	espinosa	espinosa	PROPN
ejge-8767	282	12	,	,	PUNCT
ejge-8767	282	13	g.	g.	PROPN
ejge-8767	282	14	,	,	PUNCT
ejge-8767	282	15	&	&	CCONJ
ejge-8767	282	16	martínez	martínez	PROPN
ejge-8767	282	17	,	,	PUNCT
ejge-8767	282	18	m.	m.	NOUN
ejge-8767	282	19	a.	a.	NOUN
ejge-8767	282	20	(	(	PUNCT
ejge-8767	282	21	2012	2012	NUM
ejge-8767	282	22	)	)	PUNCT
ejge-8767	282	23	.	.	PUNCT
ejge-8767	283	1	the	the	DET
ejge-8767	283	2	efficiency	efficiency	NOUN
ejge-8767	283	3	of	of	ADP
ejge-8767	283	4	performance	performance	NOUN
ejge-8767	283	5	-	-	PUNCT
ejge-8767	283	6	based	base	VERB
ejge-8767	283	7	fee	fee	NOUN
ejge-8767	283	8	funds	fund	NOUN
ejge-8767	283	9	.	.	PUNCT
ejge-8767	284	1	european	european	ADJ
ejge-8767	284	2	financial	financial	ADJ
ejge-8767	284	3	management	management	NOUN
ejge-8767	284	4	,	,	PUNCT
ejge-8767	284	5	20(4	20(4	NOUN
ejge-8767	284	6	)	)	PUNCT
ejge-8767	284	7	,	,	PUNCT
ejge-8767	284	8	825–855	825–855	NUM
ejge-8767	284	9	.	.	PUNCT
ejge-8767	285	1	https://doi.org/10.1111/j.1468-036x.2012.00654.x	https://doi.org/10.1111/j.1468-036x.2012.00654.x	PROPN
ejge-8767	285	2	duret	duret	NOUN
ejge-8767	285	3	,	,	PUNCT
ejge-8767	285	4	a.	a.	NOUN
ejge-8767	285	5	,	,	PUNCT
ejge-8767	285	6	hereil	hereil	NOUN
ejge-8767	285	7	,	,	PUNCT
ejge-8767	285	8	p.	p.	NOUN
ejge-8767	285	9	,	,	PUNCT
ejge-8767	285	10	mitaine	mitaine	NOUN
ejge-8767	285	11	,	,	PUNCT
ejge-8767	285	12	p.	p.	PROPN
ejge-8767	285	13	,	,	PUNCT
ejge-8767	285	14	moussavi	moussavi	PROPN
ejge-8767	285	15	,	,	PUNCT
ejge-8767	285	16	n.	n.	NOUN
ejge-8767	285	17	,	,	PUNCT
ejge-8767	285	18	&	&	CCONJ
ejge-8767	285	19	roncalli	roncalli	PROPN
ejge-8767	285	20	,	,	PUNCT
ejge-8767	285	21	t.	t.	PROPN
ejge-8767	285	22	(	(	PUNCT
ejge-8767	285	23	2008	2008	NUM
ejge-8767	285	24	)	)	PUNCT
ejge-8767	285	25	.	.	PUNCT
ejge-8767	286	1	fund	fund	NOUN
ejge-8767	286	2	rating	rating	NOUN
ejge-8767	286	3	systems	system	NOUN
ejge-8767	286	4	and	and	CCONJ
ejge-8767	286	5	performance	performance	NOUN
ejge-8767	286	6	predictability	predictability	NOUN
ejge-8767	286	7	.	.	PUNCT
ejge-8767	287	1	https://doi.org/10.2139/ssrn.1121383	https://doi.org/10.2139/ssrn.1121383	PROPN
ejge-8767	287	2	efron	efron	PROPN
ejge-8767	287	3	,	,	PUNCT
ejge-8767	287	4	b.	b.	PROPN
ejge-8767	287	5	(	(	PUNCT
ejge-8767	287	6	1979	1979	NUM
ejge-8767	287	7	)	)	PUNCT
ejge-8767	287	8	.	.	PUNCT
ejge-8767	288	1	bootstrap	bootstrap	NOUN
ejge-8767	288	2	methods	method	NOUN
ejge-8767	288	3	:	:	PUNCT
ejge-8767	288	4	another	another	DET
ejge-8767	288	5	look	look	NOUN
ejge-8767	288	6	at	at	ADP
ejge-8767	288	7	the	the	DET
ejge-8767	288	8	jackknife	jackknife	NOUN
ejge-8767	288	9	.	.	PUNCT
ejge-8767	289	1	annals	annal	NOUN
ejge-8767	289	2	of	of	ADP
ejge-8767	289	3	statistics	statistic	NOUN
ejge-8767	289	4	,	,	PUNCT
ejge-8767	289	5	7(1	7(1	NUM
ejge-8767	289	6	)	)	PUNCT
ejge-8767	289	7	,	,	PUNCT
ejge-8767	289	8	1	1	NUM
ejge-8767	289	9	–	–	SYM
ejge-8767	289	10	26	26	NUM
ejge-8767	289	11	.	.	PUNCT
ejge-8767	289	12	https://doi.org/10.1214/aos/1176344552	https://doi.org/10.1214/aos/1176344552	PROPN
ejge-8767	289	13	ferreira	ferreira	PROPN
ejge-8767	289	14	,	,	PUNCT
ejge-8767	289	15	m.	m.	NOUN
ejge-8767	289	16	,	,	PUNCT
ejge-8767	289	17	keswani	keswani	PROPN
ejge-8767	289	18	,	,	PUNCT
ejge-8767	289	19	a.	a.	PROPN
ejge-8767	289	20	,	,	PUNCT
ejge-8767	289	21	miguel	miguel	PROPN
ejge-8767	289	22	,	,	PUNCT
ejge-8767	289	23	a.	a.	PROPN
ejge-8767	289	24	,	,	PUNCT
ejge-8767	289	25	&	&	CCONJ
ejge-8767	289	26	ramos	ramos	PROPN
ejge-8767	289	27	,	,	PUNCT
ejge-8767	289	28	s.	s.	PROPN
ejge-8767	289	29	(	(	PUNCT
ejge-8767	289	30	2012	2012	NUM
ejge-8767	289	31	)	)	PUNCT
ejge-8767	289	32	.	.	PUNCT
ejge-8767	290	1	the	the	DET
ejge-8767	290	2	flow	flow	NOUN
ejge-8767	290	3	-	-	PUNCT
ejge-8767	290	4	performance	performance	NOUN
ejge-8767	290	5	relationship	relationship	NOUN
ejge-8767	290	6	around	around	ADP
ejge-8767	290	7	the	the	DET
ejge-8767	290	8	world	world	NOUN
ejge-8767	290	9	.	.	PUNCT
ejge-8767	291	1	journal	journal	PROPN
ejge-8767	291	2	of	of	ADP
ejge-8767	291	3	banking	banking	NOUN
ejge-8767	291	4	&	&	CCONJ
ejge-8767	291	5	finance	finance	PROPN
ejge-8767	291	6	,	,	PUNCT
ejge-8767	291	7	36	36	NUM
ejge-8767	291	8	(	(	PUNCT
ejge-8767	291	9	6	6	NUM
ejge-8767	291	10	)	)	PUNCT
ejge-8767	291	11	,	,	PUNCT
ejge-8767	291	12	1759	1759	NUM
ejge-8767	291	13	-	-	SYM
ejge-8767	291	14	1780	1780	NUM
ejge-8767	291	15	.	.	PUNCT
ejge-8767	292	1	https://doi.org/10.1016/j.jbankfin.2012.01.019	https://doi.org/10.1016/j.jbankfin.2012.01.019	NUM
ejge-8767	292	2	ferruz	ferruz	PROPN
ejge-8767	292	3	,	,	PUNCT
ejge-8767	292	4	l.	l.	PROPN
ejge-8767	292	5	,	,	PUNCT
ejge-8767	292	6	&	&	CCONJ
ejge-8767	292	7	alda	alda	PROPN
ejge-8767	292	8	,	,	PUNCT
ejge-8767	292	9	m.	m.	NOUN
ejge-8767	292	10	(	(	PUNCT
ejge-8767	292	11	2012	2012	NUM
ejge-8767	292	12	)	)	PUNCT
ejge-8767	292	13	.	.	PUNCT
ejge-8767	293	1	the	the	DET
ejge-8767	293	2	role	role	NOUN
ejge-8767	293	3	of	of	ADP
ejge-8767	293	4	fees	fee	NOUN
ejge-8767	293	5	in	in	ADP
ejge-8767	293	6	pension	pension	NOUN
ejge-8767	293	7	fund	fund	NOUN
ejge-8767	293	8	performance	performance	NOUN
ejge-8767	293	9	.	.	PUNCT
ejge-8767	294	1	evidence	evidence	NOUN
ejge-8767	294	2	from	from	ADP
ejge-8767	294	3	spain	spain	PROPN
ejge-8767	294	4	.	.	PUNCT
ejge-8767	295	1	czech	czech	PROPN
ejge-8767	295	2	journal	journal	PROPN
ejge-8767	295	3	of	of	ADP
ejge-8767	295	4	economics	economic	NOUN
ejge-8767	295	5	and	and	CCONJ
ejge-8767	295	6	finance	finance	NOUN
ejge-8767	295	7	,	,	PUNCT
ejge-8767	295	8	62(6	62(6	NOUN
ejge-8767	295	9	)	)	PUNCT
ejge-8767	295	10	,	,	PUNCT
ejge-8767	295	11	518	518	NUM
ejge-8767	295	12	-	-	SYM
ejge-8767	295	13	535	535	NUM
ejge-8767	295	14	.	.	PUNCT
ejge-8767	296	1	fernandez	fernandez	PROPN
ejge-8767	296	2	,	,	PUNCT
ejge-8767	296	3	p.	p.	PROPN
ejge-8767	296	4	,	,	PUNCT
ejge-8767	296	5	ortiz	ortiz	PROPN
ejge-8767	296	6	,	,	PUNCT
ejge-8767	296	7	a.	a.	PROPN
ejge-8767	296	8	,	,	PUNCT
ejge-8767	296	9	(	(	PUNCT
ejge-8767	296	10	2015	2015	NUM
ejge-8767	296	11	)	)	PUNCT
ejge-8767	296	12	.	.	PUNCT
ejge-8767	297	1	rentabilidad	rentabilidad	PROPN
ejge-8767	297	2	de	de	PROPN
ejge-8767	297	3	los	los	PROPN
ejge-8767	297	4	fondos	fondos	PROPN
ejge-8767	297	5	de	de	X
ejge-8767	297	6	pensiones	pension	VERB
ejge-8767	297	7	en	en	X
ejge-8767	297	8	españa	españa	PROPN
ejge-8767	297	9	.	.	PUNCT
ejge-8767	298	1	20002015	20002015	NUM
ejge-8767	298	2	.	.	PUNCT
ejge-8767	299	1	ssrn	ssrn	PROPN
ejge-8767	299	2	electronic	electronic	ADJ
ejge-8767	299	3	journal	journal	PROPN
ejge-8767	299	4	.	.	PUNCT
ejge-8767	300	1	https://doi.org/10.2139/ssrn.2724056	https://doi.org/10.2139/ssrn.2724056	PROPN
ejge-8767	300	2	flood	flood	NOUN
ejge-8767	300	3	,	,	PUNCT
ejge-8767	300	4	c	c	PROPN
ejge-8767	300	5	(	(	PUNCT
ejge-8767	300	6	2015	2015	NUM
ejge-8767	300	7	)	)	PUNCT
ejge-8767	300	8	.	.	PUNCT
ejge-8767	301	1	high	high	ADJ
ejge-8767	301	2	fees	fee	NOUN
ejge-8767	301	3	hurt	hurt	VERB
ejge-8767	301	4	pension	pension	NOUN
ejge-8767	301	5	saving	saving	NOUN
ejge-8767	301	6	for	for	ADP
ejge-8767	301	7	millions	million	NOUN
ejge-8767	301	8	of	of	ADP
ejge-8767	301	9	europeans	europeans	PROPN
ejge-8767	301	10	.	.	PUNCT
ejge-8767	302	1	financial	financial	ADJ
ejge-8767	302	2	times	time	NOUN
ejge-8767	302	3	.	.	PUNCT
ejge-8767	303	1	available	available	ADJ
ejge-8767	303	2	at	at	ADP
ejge-8767	303	3	(	(	PUNCT
ejge-8767	303	4	paywall	paywall	NOUN
ejge-8767	303	5	):	):	PUNCT
ejge-8767	303	6	https://www.ft.com/content/864b5eca-62ca-11e5-9846-de406ccb37f2	https://www.ft.com/content/864b5eca-62ca-11e5-9846-de406ccb37f2	PROPN
ejge-8767	303	7	gil	gil	PROPN
ejge-8767	303	8	-	-	NOUN
ejge-8767	303	9	bazo	bazo	NOUN
ejge-8767	303	10	,	,	PUNCT
ejge-8767	303	11	j.	j.	PROPN
ejge-8767	303	12	,	,	PUNCT
ejge-8767	303	13	&	&	CCONJ
ejge-8767	303	14	ruiz	ruiz	NOUN
ejge-8767	303	15	-	-	PUNCT
ejge-8767	303	16	verdü	verdü	NOUN
ejge-8767	303	17	,	,	PUNCT
ejge-8767	303	18	p.	p.	NOUN
ejge-8767	303	19	(	(	PUNCT
ejge-8767	303	20	2009	2009	NUM
ejge-8767	303	21	)	)	PUNCT
ejge-8767	303	22	.	.	PUNCT
ejge-8767	304	1	the	the	DET
ejge-8767	304	2	relation	relation	NOUN
ejge-8767	304	3	between	between	ADP
ejge-8767	304	4	price	price	NOUN
ejge-8767	304	5	and	and	CCONJ
ejge-8767	304	6	performance	performance	NOUN
ejge-8767	304	7	in	in	ADP
ejge-8767	304	8	the	the	DET
ejge-8767	304	9	mutual	mutual	ADJ
ejge-8767	304	10	fund	fund	NOUN
ejge-8767	304	11	industry	industry	NOUN
ejge-8767	304	12	.	.	PUNCT
ejge-8767	305	1	the	the	DET
ejge-8767	305	2	journal	journal	PROPN
ejge-8767	305	3	of	of	ADP
ejge-8767	305	4	finance	finance	NOUN
ejge-8767	305	5	,	,	PUNCT
ejge-8767	305	6	64,2153	64,2153	NUM
ejge-8767	305	7	-	-	SYM
ejge-8767	305	8	2183	2183	NUM
ejge-8767	305	9	.	.	PUNCT
ejge-8767	306	1	https://doi.org/10.1111/j.15406261.2009.01497.x	https://doi.org/10.1111/j.15406261.2009.01497.x	PRON
ejge-8767	306	2	grinblatt	grinblatt	NOUN
ejge-8767	306	3	,	,	PUNCT
ejge-8767	306	4	m.	m.	NOUN
ejge-8767	306	5	,	,	PUNCT
ejge-8767	306	6	&	&	CCONJ
ejge-8767	306	7	titman	titman	PROPN
ejge-8767	306	8	,	,	PUNCT
ejge-8767	306	9	s.	s.	PROPN
ejge-8767	306	10	(	(	PUNCT
ejge-8767	306	11	1992	1992	NUM
ejge-8767	306	12	)	)	PUNCT
ejge-8767	306	13	.	.	PUNCT
ejge-8767	307	1	the	the	DET
ejge-8767	307	2	persistence	persistence	NOUN
ejge-8767	307	3	of	of	ADP
ejge-8767	307	4	mutual	mutual	ADJ
ejge-8767	307	5	fund	fund	NOUN
ejge-8767	307	6	performance	performance	NOUN
ejge-8767	307	7	.	.	PUNCT
ejge-8767	308	1	journal	journal	PROPN
ejge-8767	308	2	of	of	ADP
ejge-8767	308	3	finance	finance	PROPN
ejge-8767	308	4	,	,	PUNCT
ejge-8767	308	5	47(5),1977–1984	47(5),1977–1984	PROPN
ejge-8767	308	6	.	.	PUNCT
ejge-8767	309	1	https://doi.org/10.1111/j.1540-6261.1992.tb04692.x	https://doi.org/10.1111/j.1540-6261.1992.tb04692.x	PROPN
ejge-8767	309	2	https://doi.org/10.1016/s1057-0810(99)00023-2	https://doi.org/10.1016/s1057-0810(99)00023-2	VERB
ejge-8767	309	3	https://doi.org/10.2139/ssrn.1360637	https://doi.org/10.2139/ssrn.1360637	ADJ
ejge-8767	310	1	https://doi.org/10.1287/mnsc.2017.2884	https://doi.org/10.1287/mnsc.2017.2884	PROPN
ejge-8767	310	2	https://doi.org/10.1086/424739	https://doi.org/10.1086/424739	NOUN
ejge-8767	310	3	https://doi.org/10.2307/2676213	https://doi.org/10.2307/2676213	X
ejge-8767	310	4	https://doi.org/10.1111/j.1540-6261.1997.tb03808.x	https://doi.org/10.1111/j.1540-6261.1997.tb03808.x	NOUN
ejge-8767	310	5	https://doi.org/10.1007/bf00120146	https://doi.org/10.1007/bf00120146	ADV
ejge-8767	310	6	https://doi.org/10.2139/ssrn.195849	https://doi.org/10.2139/ssrn.195849	ADJ
ejge-8767	310	7	https://doi.org/10.1111/j.1467-8683.2011.00858.x	https://doi.org/10.1111/j.1467-8683.2011.00858.x	ADJ
ejge-8767	310	8	https://doi.org/10.7763/joebm.2015.v3.163	https://doi.org/10.7763/joebm.2015.v3.163	PROPN
ejge-8767	310	9	https://doi.org/10.1093/rfs/hhp057	https://doi.org/10.1093/rfs/hhp057	PROPN
ejge-8767	310	10	https://doi.org/10.1111/j.1540-6261.1997.tb02724.x	https://doi.org/10.1111/j.1540-6261.1997.tb02724.x	PROPN
ejge-8767	310	11	https://doi.org/10.1111/j.1468-036x.2012.00654.x	https://doi.org/10.1111/j.1468-036x.2012.00654.x	PROPN
ejge-8767	310	12	https://doi.org/10.2139/ssrn.1121383	https://doi.org/10.2139/ssrn.1121383	NOUN
ejge-8767	310	13	https://doi.org/10.1214/aos/1176344552	https://doi.org/10.1214/aos/1176344552	NOUN
ejge-8767	310	14	https://doi.org/10.1016/j.jbankfin.2012.01.019	https://doi.org/10.1016/j.jbankfin.2012.01.019	PROPN
ejge-8767	310	15	https://doi.org/10.2139/ssrn.2724056	https://doi.org/10.2139/ssrn.2724056	PROPN
ejge-8767	310	16	https://www.ft.com/content/864b5eca-62ca-11e5-9846-de406ccb37f2	https://www.ft.com/content/864b5eca-62ca-11e5-9846-de406ccb37f2	PROPN
ejge-8767	310	17	https://doi.org/10.1111/j.1540-6261.2009.01497.x	https://doi.org/10.1111/j.1540-6261.2009.01497.x	NOUN
ejge-8767	310	18	https://doi.org/10.1111/j.1540-6261.2009.01497.x	https://doi.org/10.1111/j.1540-6261.2009.01497.x	NOUN
ejge-8767	311	1	https://doi.org/10.1111/j.1540-6261.1992.tb04692.x	https://doi.org/10.1111/j.1540-6261.1992.tb04692.x	PROPN
ejge-8767	311	2	renato	renato	PROPN
ejge-8767	311	3	correia	correia	PROPN
ejge-8767	311	4	-	-	PUNCT
ejge-8767	311	5	domingues	domingue	NOUN
ejge-8767	311	6	et	et	PROPN
ejge-8767	311	7	al	al	PROPN
ejge-8767	311	8	.	.	PUNCT
ejge-8767	311	9	/	/	SYM
ejge-8767	311	10	european	european	PROPN
ejge-8767	311	11	journal	journal	PROPN
ejge-8767	311	12	of	of	ADP
ejge-8767	311	13	government	government	NOUN
ejge-8767	311	14	and	and	CCONJ
ejge-8767	311	15	economics	economic	NOUN
ejge-8767	311	16	11(1	11(1	NUM
ejge-8767	311	17	)	)	PUNCT
ejge-8767	311	18	,	,	PUNCT
ejge-8767	311	19	june	june	PROPN
ejge-8767	311	20	2022	2022	NUM
ejge-8767	311	21	,	,	PUNCT
ejge-8767	311	22	31	31	NUM
ejge-8767	311	23	-	-	SYM
ejge-8767	311	24	50	50	NUM
ejge-8767	311	25	46	46	NUM
ejge-8767	311	26	gruber	gruber	NOUN
ejge-8767	311	27	,	,	PUNCT
ejge-8767	311	28	m.	m.	NOUN
ejge-8767	311	29	(	(	PUNCT
ejge-8767	311	30	1996	1996	NUM
ejge-8767	311	31	)	)	PUNCT
ejge-8767	311	32	.	.	PUNCT
ejge-8767	312	1	another	another	DET
ejge-8767	312	2	puzzle	puzzle	NOUN
ejge-8767	312	3	:	:	PUNCT
ejge-8767	312	4	the	the	DET
ejge-8767	312	5	growth	growth	NOUN
ejge-8767	312	6	in	in	ADP
ejge-8767	312	7	actively	actively	ADV
ejge-8767	312	8	managed	manage	VERB
ejge-8767	312	9	mutual	mutual	ADJ
ejge-8767	312	10	funds	fund	NOUN
ejge-8767	312	11	.	.	PUNCT
ejge-8767	313	1	the	the	DET
ejge-8767	313	2	journal	journal	NOUN
ejge-8767	313	3	of	of	ADP
ejge-8767	313	4	finance	finance	NOUN
ejge-8767	313	5	,	,	PUNCT
ejge-8767	313	6	51(3	51(3	NUM
ejge-8767	313	7	)	)	PUNCT
ejge-8767	313	8	,	,	PUNCT
ejge-8767	313	9	783	783	NUM
ejge-8767	313	10	-	-	SYM
ejge-8767	313	11	810	810	NUM
ejge-8767	313	12	.	.	PUNCT
ejge-8767	314	1	https://doi.org/10.1111/j.1540-6261.1996.tb02707.x	https://doi.org/10.1111/j.1540-6261.1996.tb02707.x	PROPN
ejge-8767	314	2	jensen	jensen	PROPN
ejge-8767	314	3	,	,	PUNCT
ejge-8767	314	4	m.	m.	PROPN
ejge-8767	314	5	c.	c.	PROPN
ejge-8767	314	6	(	(	PUNCT
ejge-8767	314	7	1968	1968	NUM
ejge-8767	314	8	)	)	PUNCT
ejge-8767	314	9	.	.	PUNCT
ejge-8767	315	1	the	the	DET
ejge-8767	315	2	performance	performance	NOUN
ejge-8767	315	3	of	of	ADP
ejge-8767	315	4	mutual	mutual	ADJ
ejge-8767	315	5	funds	fund	NOUN
ejge-8767	315	6	in	in	ADP
ejge-8767	315	7	the	the	DET
ejge-8767	315	8	period	period	NOUN
ejge-8767	315	9	1945	1945	NUM
ejge-8767	315	10	-	-	SYM
ejge-8767	315	11	1964	1964	NUM
ejge-8767	315	12	.	.	PUNCT
ejge-8767	316	1	the	the	DET
ejge-8767	316	2	journal	journal	PROPN
ejge-8767	316	3	of	of	ADP
ejge-8767	316	4	finance	finance	NOUN
ejge-8767	316	5	,	,	PUNCT
ejge-8767	316	6	23(2	23(2	NUM
ejge-8767	316	7	)	)	PUNCT
ejge-8767	316	8	,	,	PUNCT
ejge-8767	316	9	389–416	389–416	NUM
ejge-8767	316	10	.	.	PUNCT
ejge-8767	317	1	https://doi.org/10.1111/j.1540-6261.1968.tb00815.x	https://doi.org/10.1111/j.1540-6261.1968.tb00815.x	PROPN
ejge-8767	317	2	koenker	koenker	PROPN
ejge-8767	317	3	,	,	PUNCT
ejge-8767	317	4	r.	r.	PROPN
ejge-8767	317	5	,	,	PUNCT
ejge-8767	317	6	&	&	CCONJ
ejge-8767	317	7	bassett	bassett	PROPN
ejge-8767	317	8	,	,	PUNCT
ejge-8767	317	9	g.	g.	PROPN
ejge-8767	317	10	(	(	PUNCT
ejge-8767	317	11	1978	1978	NUM
ejge-8767	317	12	)	)	PUNCT
ejge-8767	317	13	.	.	PUNCT
ejge-8767	318	1	regression	regression	NOUN
ejge-8767	318	2	quantiles	quantile	NOUN
ejge-8767	318	3	.	.	PUNCT
ejge-8767	319	1	econometrica	econometrica	PROPN
ejge-8767	319	2	,	,	PUNCT
ejge-8767	319	3	46(1	46(1	PROPN
ejge-8767	319	4	)	)	PUNCT
ejge-8767	319	5	,	,	PUNCT
ejge-8767	319	6	33–50	33–50	NUM
ejge-8767	319	7	.	.	PUNCT
ejge-8767	320	1	https://doi.org/10.2307/1913643	https://doi.org/10.2307/1913643	X
ejge-8767	320	2	haslem	haslem	PROPN
ejge-8767	320	3	,	,	PUNCT
ejge-8767	320	4	j.	j.	PROPN
ejge-8767	320	5	,	,	PUNCT
ejge-8767	320	6	baker	baker	PROPN
ejge-8767	320	7	,	,	PUNCT
ejge-8767	320	8	h.	h.	PROPN
ejge-8767	320	9	,	,	PUNCT
ejge-8767	320	10	&	&	CCONJ
ejge-8767	320	11	smith	smith	PROPN
ejge-8767	320	12	,	,	PUNCT
ejge-8767	320	13	d.	d.	PROPN
ejge-8767	320	14	(	(	PUNCT
ejge-8767	320	15	2008	2008	NUM
ejge-8767	320	16	)	)	PUNCT
ejge-8767	320	17	.	.	PUNCT
ejge-8767	321	1	performance	performance	NOUN
ejge-8767	321	2	and	and	CCONJ
ejge-8767	321	3	characteristics	characteristic	NOUN
ejge-8767	321	4	of	of	ADP
ejge-8767	321	5	actively	actively	ADV
ejge-8767	321	6	managed	manage	VERB
ejge-8767	321	7	retail	retail	ADJ
ejge-8767	321	8	equity	equity	NOUN
ejge-8767	321	9	mutual	mutual	ADJ
ejge-8767	321	10	funds	fund	NOUN
ejge-8767	321	11	with	with	ADP
ejge-8767	321	12	diverse	diverse	ADJ
ejge-8767	321	13	expense	expense	NOUN
ejge-8767	321	14	ratios	ratio	NOUN
ejge-8767	321	15	.	.	PUNCT
ejge-8767	322	1	financial	financial	ADJ
ejge-8767	322	2	services	service	NOUN
ejge-8767	322	3	review	review	PROPN
ejge-8767	322	4	,	,	PUNCT
ejge-8767	322	5	17(1	17(1	NUM
ejge-8767	322	6	)	)	PUNCT
ejge-8767	322	7	,	,	PUNCT
ejge-8767	322	8	49–68	49–68	NUM
ejge-8767	322	9	.	.	PUNCT
ejge-8767	322	10	https://doi.org/10.2139/ssrn.1128983	https://doi.org/10.2139/ssrn.1128983	PROPN
ejge-8767	322	11	howe	howe	PROPN
ejge-8767	322	12	,	,	PUNCT
ejge-8767	322	13	t.	t.	PROPN
ejge-8767	322	14	,	,	PUNCT
ejge-8767	322	15	&	&	CCONJ
ejge-8767	322	16	pope	pope	PROPN
ejge-8767	322	17	,	,	PUNCT
ejge-8767	322	18	r.	r.	PROPN
ejge-8767	322	19	(	(	PUNCT
ejge-8767	322	20	1996	1996	NUM
ejge-8767	322	21	)	)	PUNCT
ejge-8767	322	22	.	.	PUNCT
ejge-8767	323	1	equity	equity	NOUN
ejge-8767	323	2	mutual	mutual	ADJ
ejge-8767	323	3	fund	fund	PROPN
ejge-8767	323	4	historical	historical	ADJ
ejge-8767	323	5	performance	performance	NOUN
ejge-8767	323	6	ratings	rating	NOUN
ejge-8767	323	7	as	as	ADP
ejge-8767	323	8	predictors	predictor	NOUN
ejge-8767	323	9	of	of	ADP
ejge-8767	323	10	future	future	ADJ
ejge-8767	323	11	performance	performance	NOUN
ejge-8767	323	12	.	.	PUNCT
ejge-8767	324	1	journal	journal	NOUN
ejge-8767	324	2	of	of	ADP
ejge-8767	324	3	financial	financial	ADJ
ejge-8767	324	4	and	and	CCONJ
ejge-8767	324	5	strategic	strategic	ADJ
ejge-8767	324	6	decisions	decision	NOUN
ejge-8767	324	7	,	,	PUNCT
ejge-8767	324	8	9	9	NUM
ejge-8767	324	9	(	(	PUNCT
ejge-8767	324	10	1	1	NUM
ejge-8767	324	11	)	)	PUNCT
ejge-8767	324	12	.	.	PUNCT
ejge-8767	325	1	kosowski	kosowski	PROPN
ejge-8767	325	2	,	,	PUNCT
ejge-8767	325	3	r.	r.	PROPN
ejge-8767	325	4	,	,	PUNCT
ejge-8767	325	5	timmermann	timmermann	PROPN
ejge-8767	325	6	,	,	PUNCT
ejge-8767	325	7	a.	a.	NOUN
ejge-8767	325	8	,	,	PUNCT
ejge-8767	325	9	white	white	ADJ
ejge-8767	325	10	,	,	PUNCT
ejge-8767	325	11	h.	h.	PROPN
ejge-8767	325	12	,	,	PUNCT
ejge-8767	325	13	&	&	CCONJ
ejge-8767	325	14	wermers	wermer	NOUN
ejge-8767	325	15	,	,	PUNCT
ejge-8767	325	16	r.	r.	PROPN
ejge-8767	325	17	(	(	PUNCT
ejge-8767	325	18	2006	2006	NUM
ejge-8767	325	19	)	)	PUNCT
ejge-8767	325	20	.	.	PUNCT
ejge-8767	326	1	can	can	AUX
ejge-8767	326	2	mutual	mutual	ADJ
ejge-8767	326	3	fund	fund	NOUN
ejge-8767	326	4	‘	'	PUNCT
ejge-8767	326	5	stars	star	NOUN
ejge-8767	326	6	’	'	PUNCT
ejge-8767	326	7	really	really	ADV
ejge-8767	326	8	pick	pick	VERB
ejge-8767	326	9	stocks	stock	NOUN
ejge-8767	326	10	?	?	PUNCT
ejge-8767	327	1	new	new	ADJ
ejge-8767	327	2	evidence	evidence	NOUN
ejge-8767	327	3	from	from	ADP
ejge-8767	327	4	a	a	DET
ejge-8767	327	5	bootstrap	bootstrap	NOUN
ejge-8767	327	6	analysis	analysis	NOUN
ejge-8767	327	7	.	.	PUNCT
ejge-8767	328	1	journal	journal	PROPN
ejge-8767	328	2	of	of	ADP
ejge-8767	328	3	finance	finance	NOUN
ejge-8767	328	4	,	,	PUNCT
ejge-8767	328	5	61(6	61(6	NUM
ejge-8767	328	6	)	)	PUNCT
ejge-8767	328	7	,	,	PUNCT
ejge-8767	328	8	2551–2595	2551–2595	NUM
ejge-8767	328	9	.	.	PUNCT
ejge-8767	329	1	https://doi.org/10.1111/j.1540-6261.2006.01015.x	https://doi.org/10.1111/j.1540-6261.2006.01015.x	NOUN
ejge-8767	329	2	koenker	koenker	PROPN
ejge-8767	329	3	,	,	PUNCT
ejge-8767	329	4	r.	r.	PROPN
ejge-8767	329	5	,	,	PUNCT
ejge-8767	329	6	&	&	CCONJ
ejge-8767	329	7	basset	basset	PROPN
ejge-8767	329	8	,	,	PUNCT
ejge-8767	329	9	g.	g.	PROPN
ejge-8767	329	10	(	(	PUNCT
ejge-8767	329	11	1978	1978	NUM
ejge-8767	329	12	)	)	PUNCT
ejge-8767	329	13	.	.	PUNCT
ejge-8767	330	1	regression	regression	NOUN
ejge-8767	330	2	quantiles	quantile	NOUN
ejge-8767	330	3	.	.	PUNCT
ejge-8767	331	1	econometrica	econometrica	PROPN
ejge-8767	331	2	,	,	PUNCT
ejge-8767	331	3	46(1	46(1	PROPN
ejge-8767	331	4	)	)	PUNCT
ejge-8767	331	5	,	,	PUNCT
ejge-8767	331	6	33–50	33–50	NUM
ejge-8767	331	7	.	.	PUNCT
ejge-8767	331	8	https://doi.org/10.2307/1913643	https://doi.org/10.2307/1913643	X
ejge-8767	332	1	livingston	livingston	PROPN
ejge-8767	332	2	,	,	PUNCT
ejge-8767	332	3	m.	m.	NOUN
ejge-8767	332	4	,	,	PUNCT
ejge-8767	332	5	yao	yao	PROPN
ejge-8767	332	6	,	,	PUNCT
ejge-8767	332	7	p.	p.	NOUN
ejge-8767	332	8	,	,	PUNCT
ejge-8767	332	9	&	&	CCONJ
ejge-8767	332	10	zhou	zhou	PROPN
ejge-8767	332	11	,	,	PUNCT
ejge-8767	332	12	l.	l.	PROPN
ejge-8767	332	13	(	(	PUNCT
ejge-8767	332	14	2019	2019	NUM
ejge-8767	332	15	)	)	PUNCT
ejge-8767	332	16	.	.	PUNCT
ejge-8767	333	1	the	the	DET
ejge-8767	333	2	volatility	volatility	NOUN
ejge-8767	333	3	of	of	ADP
ejge-8767	333	4	mutual	mutual	ADJ
ejge-8767	333	5	fund	fund	NOUN
ejge-8767	333	6	performance	performance	NOUN
ejge-8767	333	7	.	.	PUNCT
ejge-8767	334	1	journal	journal	PROPN
ejge-8767	334	2	of	of	ADP
ejge-8767	334	3	economics	economic	NOUN
ejge-8767	334	4	and	and	CCONJ
ejge-8767	334	5	business	business	NOUN
ejge-8767	334	6	,	,	PUNCT
ejge-8767	334	7	104	104	NUM
ejge-8767	334	8	,	,	PUNCT
ejge-8767	334	9	1	1	NUM
ejge-8767	334	10	-	-	SYM
ejge-8767	334	11	19	19	NUM
ejge-8767	334	12	.	.	PUNCT
ejge-8767	334	13	https://doi.org/10.1016/j.jeconbus.2019.02.001	https://doi.org/10.1016/j.jeconbus.2019.02.001	PROPN
ejge-8767	334	14	livingston	livingston	PROPN
ejge-8767	334	15	,	,	PUNCT
ejge-8767	334	16	m.	m.	NOUN
ejge-8767	334	17	,	,	PUNCT
ejge-8767	334	18	&	&	CCONJ
ejge-8767	334	19	o´neal	o´neal	PROPN
ejge-8767	334	20	,	,	PUNCT
ejge-8767	334	21	e.	e.	PROPN
ejge-8767	334	22	(	(	PUNCT
ejge-8767	334	23	1996	1996	NUM
ejge-8767	334	24	)	)	PUNCT
ejge-8767	334	25	.	.	PUNCT
ejge-8767	335	1	mutual	mutual	ADJ
ejge-8767	335	2	fund	fund	NOUN
ejge-8767	335	3	brokerage	brokerage	NOUN
ejge-8767	335	4	commissions	commission	NOUN
ejge-8767	335	5	.	.	PUNCT
ejge-8767	336	1	journal	journal	NOUN
ejge-8767	336	2	of	of	ADP
ejge-8767	336	3	financial	financial	ADJ
ejge-8767	336	4	research	research	NOUN
ejge-8767	336	5	,	,	PUNCT
ejge-8767	336	6	19(2	19(2	NUM
ejge-8767	336	7	)	)	PUNCT
ejge-8767	336	8	,	,	PUNCT
ejge-8767	336	9	273	273	NUM
ejge-8767	336	10	-	-	SYM
ejge-8767	336	11	292	292	NUM
ejge-8767	336	12	.	.	PUNCT
ejge-8767	337	1	https://doi.org/10.1111/j.1475-6803.1996.tb00597.x	https://doi.org/10.1111/j.1475-6803.1996.tb00597.x	PROPN
ejge-8767	337	2	malkiel	malkiel	PROPN
ejge-8767	337	3	,	,	PUNCT
ejge-8767	337	4	b.	b.	PROPN
ejge-8767	337	5	(	(	PUNCT
ejge-8767	337	6	1995	1995	NUM
ejge-8767	337	7	)	)	PUNCT
ejge-8767	337	8	.	.	PUNCT
ejge-8767	338	1	returns	return	NOUN
ejge-8767	338	2	from	from	ADP
ejge-8767	338	3	investing	invest	VERB
ejge-8767	338	4	in	in	ADP
ejge-8767	338	5	equity	equity	NOUN
ejge-8767	338	6	mutual	mutual	ADJ
ejge-8767	338	7	funds	fund	NOUN
ejge-8767	338	8	1971	1971	NUM
ejge-8767	338	9	to	to	ADP
ejge-8767	338	10	1991	1991	NUM
ejge-8767	338	11	.	.	PUNCT
ejge-8767	339	1	journal	journal	NOUN
ejge-8767	339	2	of	of	ADP
ejge-8767	339	3	finance	finance	NOUN
ejge-8767	339	4	,	,	PUNCT
ejge-8767	339	5	50(2),1540	50(2),1540	NUM
ejge-8767	339	6	-	-	SYM
ejge-8767	339	7	6261	6261	NUM
ejge-8767	339	8	.	.	PUNCT
ejge-8767	340	1	https://doi.org/10.1111/j.1540-6261.1995.tb04795.x	https://doi.org/10.1111/j.1540-6261.1995.tb04795.x	NOUN
ejge-8767	340	2	matallin	matallin	PROPN
ejge-8767	340	3	-	-	PUNCT
ejge-8767	340	4	saez	saez	PROPN
ejge-8767	340	5	,	,	PUNCT
ejge-8767	340	6	j.	j.	PROPN
ejge-8767	340	7	,	,	PUNCT
ejge-8767	340	8	soler	soler	PROPN
ejge-8767	340	9	-	-	PUNCT
ejge-8767	340	10	dominguez	dominguez	PROPN
ejge-8767	340	11	,	,	PUNCT
ejge-8767	340	12	a.	a.	PROPN
ejge-8767	340	13	,	,	PUNCT
ejge-8767	340	14	&	&	CCONJ
ejge-8767	340	15	tortosa	tortosa	PROPN
ejge-8767	340	16	-	-	PUNCT
ejge-8767	340	17	ausina	ausina	PROPN
ejge-8767	340	18	,	,	PUNCT
ejge-8767	340	19	e.	e.	PROPN
ejge-8767	340	20	(	(	PUNCT
ejge-8767	340	21	2012	2012	NUM
ejge-8767	340	22	)	)	PUNCT
ejge-8767	340	23	.	.	PUNCT
ejge-8767	341	1	mutual	mutual	ADJ
ejge-8767	341	2	fund	fund	NOUN
ejge-8767	341	3	performance	performance	NOUN
ejge-8767	341	4	:	:	PUNCT
ejge-8767	341	5	banking	banking	NOUN
ejge-8767	341	6	versus	versus	ADP
ejge-8767	341	7	independent	independent	ADJ
ejge-8767	341	8	managers	manager	NOUN
ejge-8767	341	9	.	.	PUNCT
ejge-8767	342	1	applied	apply	VERB
ejge-8767	342	2	economics	economic	NOUN
ejge-8767	342	3	letters	letter	NOUN
ejge-8767	342	4	,	,	PUNCT
ejge-8767	342	5	19(8	19(8	NUM
ejge-8767	342	6	)	)	PUNCT
ejge-8767	342	7	,	,	PUNCT
ejge-8767	342	8	755	755	NUM
ejge-8767	342	9	-	-	SYM
ejge-8767	342	10	758	758	NUM
ejge-8767	342	11	.	.	PUNCT
ejge-8767	343	1	https://doi.org/10.1080/13504851.2011.602008	https://doi.org/10.1080/13504851.2011.602008	PROPN
ejge-8767	343	2	meinhardt	meinhardt	ADJ
ejge-8767	343	3	,	,	PUNCT
ejge-8767	343	4	c.	c.	NOUN
ejge-8767	343	5	(	(	PUNCT
ejge-8767	343	6	2014	2014	NUM
ejge-8767	343	7	)	)	PUNCT
ejge-8767	343	8	.	.	PUNCT
ejge-8767	344	1	ratings	rating	NOUN
ejge-8767	344	2	and	and	CCONJ
ejge-8767	344	3	performance	performance	NOUN
ejge-8767	344	4	of	of	ADP
ejge-8767	344	5	german	german	ADJ
ejge-8767	344	6	mutual	mutual	ADJ
ejge-8767	344	7	funds	fund	NOUN
ejge-8767	344	8	–	–	PUNCT
ejge-8767	344	9	a	a	DET
ejge-8767	344	10	comparison	comparison	NOUN
ejge-8767	344	11	of	of	ADP
ejge-8767	344	12	feri	feri	PROPN
ejge-8767	344	13	trust	trust	PROPN
ejge-8767	344	14	,	,	PUNCT
ejge-8767	344	15	finanztest	finanzt	ADJ
ejge-8767	344	16	and	and	CCONJ
ejge-8767	344	17	fondsnote	fondsnote	VERB
ejge-8767	344	18	.	.	PUNCT
ejge-8767	345	1	https://doi.org/10.2139/ssrn.1943577	https://doi.org/10.2139/ssrn.1943577	PRON
ejge-8767	345	2	morey	morey	PROPN
ejge-8767	345	3	,	,	PUNCT
ejge-8767	345	4	m.	m.	NOUN
ejge-8767	345	5	(	(	PUNCT
ejge-8767	345	6	2005	2005	NUM
ejge-8767	345	7	)	)	PUNCT
ejge-8767	345	8	.	.	PUNCT
ejge-8767	346	1	the	the	DET
ejge-8767	346	2	kiss	kiss	NOUN
ejge-8767	346	3	of	of	ADP
ejge-8767	346	4	death	death	NOUN
ejge-8767	346	5	:	:	PUNCT
ejge-8767	346	6	a	a	DET
ejge-8767	346	7	5	5	NUM
ejge-8767	346	8	-	-	PUNCT
ejge-8767	346	9	star	star	NOUN
ejge-8767	346	10	morningstar	morningstar	PROPN
ejge-8767	346	11	mutual	mutual	ADJ
ejge-8767	346	12	fund	fund	NOUN
ejge-8767	346	13	rating	rating	NOUN
ejge-8767	346	14	?	?	PUNCT
ejge-8767	347	1	journal	journal	NOUN
ejge-8767	347	2	of	of	ADP
ejge-8767	347	3	investment	investment	NOUN
ejge-8767	347	4	management	management	NOUN
ejge-8767	347	5	,	,	PUNCT
ejge-8767	347	6	3(2	3(2	NUM
ejge-8767	347	7	)	)	PUNCT
ejge-8767	347	8	,	,	PUNCT
ejge-8767	347	9	41–52	41–52	NUM
ejge-8767	347	10	.	.	PUNCT
ejge-8767	348	1	https://doi.org/10.2139/ssrn.455240	https://doi.org/10.2139/ssrn.455240	PROPN
ejge-8767	348	2	morey	morey	PROPN
ejge-8767	348	3	,	,	PUNCT
ejge-8767	348	4	b.	b.	PROPN
ejge-8767	348	5	,	,	PUNCT
ejge-8767	348	6	&	&	CCONJ
ejge-8767	348	7	gottesman	gottesman	NOUN
ejge-8767	348	8	,	,	PUNCT
ejge-8767	348	9	a.	a.	NOUN
ejge-8767	348	10	(	(	PUNCT
ejge-8767	348	11	2006	2006	NUM
ejge-8767	348	12	)	)	PUNCT
ejge-8767	348	13	.	.	PUNCT
ejge-8767	349	1	morningstar	morningstar	PROPN
ejge-8767	349	2	mutual	mutual	ADJ
ejge-8767	349	3	fund	fund	PROPN
ejge-8767	349	4	ratings	rating	NOUN
ejge-8767	349	5	redux	redux	PROPN
ejge-8767	349	6	.	.	PUNCT
ejge-8767	350	1	ssrn	ssrn	PROPN
ejge-8767	350	2	,	,	PUNCT
ejge-8767	350	3	https://doi.org/10.2139/ssrn.890128	https://doi.org/10.2139/ssrn.890128	PROPN
ejge-8767	350	4	müller	müller	PROPN
ejge-8767	350	5	,	,	PUNCT
ejge-8767	350	6	s.	s.	PROPN
ejge-8767	350	7	,	,	PUNCT
ejge-8767	350	8	&	&	CCONJ
ejge-8767	350	9	weber	weber	PROPN
ejge-8767	350	10	,	,	PUNCT
ejge-8767	350	11	m.	m.	NOUN
ejge-8767	350	12	(	(	PUNCT
ejge-8767	350	13	2014	2014	NUM
ejge-8767	350	14	)	)	PUNCT
ejge-8767	350	15	.	.	PUNCT
ejge-8767	351	1	evaluating	evaluate	VERB
ejge-8767	351	2	the	the	DET
ejge-8767	351	3	rating	rating	NOUN
ejge-8767	351	4	of	of	ADP
ejge-8767	351	5	stiftung	stiftung	PROPN
ejge-8767	351	6	warentest	warent	ADJ
ejge-8767	351	7	:	:	PUNCT
ejge-8767	351	8	how	how	SCONJ
ejge-8767	351	9	good	good	ADJ
ejge-8767	351	10	are	be	AUX
ejge-8767	351	11	mutual	mutual	ADJ
ejge-8767	351	12	fund	fund	NOUN
ejge-8767	351	13	ratings	rating	NOUN
ejge-8767	351	14	and	and	CCONJ
ejge-8767	351	15	can	can	AUX
ejge-8767	351	16	they	they	PRON
ejge-8767	351	17	be	be	AUX
ejge-8767	351	18	improved	improve	VERB
ejge-8767	351	19	?	?	PUNCT
ejge-8767	352	1	european	european	ADJ
ejge-8767	352	2	financial	financial	ADJ
ejge-8767	352	3	management	management	NOUN
ejge-8767	352	4	,	,	PUNCT
ejge-8767	352	5	20(2	20(2	NUM
ejge-8767	352	6	)	)	PUNCT
ejge-8767	352	7	,	,	PUNCT
ejge-8767	352	8	207	207	NUM
ejge-8767	352	9	-	-	SYM
ejge-8767	352	10	235	235	NUM
ejge-8767	352	11	.	.	PUNCT
ejge-8767	353	1	https://doi.org/10.1111/j.1468-036x.2011.00632.x	https://doi.org/10.1111/j.1468-036x.2011.00632.x	PROPN
ejge-8767	353	2	nitzsche	nitzsche	NOUN
ejge-8767	353	3	,	,	PUNCT
ejge-8767	353	4	d.	d.	PROPN
ejge-8767	353	5	,	,	PUNCT
ejge-8767	353	6	cuthbertson	cuthbertson	PROPN
ejge-8767	353	7	,	,	PUNCT
ejge-8767	353	8	k.	k.	PROPN
ejge-8767	353	9	,	,	PUNCT
ejge-8767	353	10	&	&	CCONJ
ejge-8767	353	11	o'sulliv	o'sulliv	PROPN
ejge-8767	353	12	,	,	PUNCT
ejge-8767	353	13	n.	n.	NOUN
ejge-8767	353	14	(	(	PUNCT
ejge-8767	353	15	2006	2006	NUM
ejge-8767	353	16	)	)	PUNCT
ejge-8767	353	17	.	.	PUNCT
ejge-8767	354	1	mutual	mutual	ADJ
ejge-8767	354	2	fund	fund	NOUN
ejge-8767	354	3	performance	performance	NOUN
ejge-8767	354	4	.	.	PUNCT
ejge-8767	355	1	https://doi.org/10.2139/ssrn.955807	https://doi.org/10.2139/ssrn.955807	PROPN
ejge-8767	355	2	o’neal	o’neal	PROPN
ejge-8767	355	3	,	,	PUNCT
ejge-8767	355	4	e.	e.	PROPN
ejge-8767	355	5	(	(	PUNCT
ejge-8767	355	6	2004	2004	NUM
ejge-8767	355	7	)	)	PUNCT
ejge-8767	355	8	.	.	PUNCT
ejge-8767	356	1	purchase	purchase	NOUN
ejge-8767	356	2	and	and	CCONJ
ejge-8767	356	3	redemption	redemption	NOUN
ejge-8767	356	4	patterns	pattern	NOUN
ejge-8767	356	5	of	of	ADP
ejge-8767	356	6	u.s	u.s	PROPN
ejge-8767	356	7	.	.	PROPN
ejge-8767	356	8	equity	equity	NOUN
ejge-8767	356	9	mutual	mutual	ADJ
ejge-8767	356	10	funds	fund	NOUN
ejge-8767	356	11	.	.	PUNCT
ejge-8767	357	1	financial	financial	ADJ
ejge-8767	357	2	management	management	NOUN
ejge-8767	357	3	,	,	PUNCT
ejge-8767	357	4	33(1	33(1	NUM
ejge-8767	357	5	)	)	PUNCT
ejge-8767	357	6	,	,	PUNCT
ejge-8767	357	7	63–90	63–90	NOUN
ejge-8767	357	8	.	.	PUNCT
ejge-8767	358	1	https://ssrn.com/abstract=520267	https://ssrn.com/abstract=520267	PROPN
ejge-8767	358	2	.	.	PUNCT
ejge-8767	358	3	otero	otero	PROPN
ejge-8767	358	4	,	,	PUNCT
ejge-8767	358	5	l.	l.	PROPN
ejge-8767	358	6	,	,	PUNCT
ejge-8767	358	7	duran	duran	NOUN
ejge-8767	358	8	-	-	PUNCT
ejge-8767	358	9	santomil	santomil	NOUN
ejge-8767	358	10	,	,	PUNCT
ejge-8767	358	11	p.	p.	NOUN
ejge-8767	358	12	,	,	PUNCT
ejge-8767	358	13	&	&	CCONJ
ejge-8767	358	14	correia	correia	PROPN
ejge-8767	358	15	-	-	PUNCT
ejge-8767	358	16	domingues	domingues	PROPN
ejge-8767	358	17	,	,	PUNCT
ejge-8767	358	18	r.	r.	PROPN
ejge-8767	358	19	(	(	PUNCT
ejge-8767	358	20	2019	2019	NUM
ejge-8767	358	21	)	)	PUNCT
ejge-8767	358	22	.	.	PUNCT
ejge-8767	359	1	do	do	AUX
ejge-8767	359	2	investors	investor	NOUN
ejge-8767	359	3	obtain	obtain	VERB
ejge-8767	359	4	better	well	ADJ
ejge-8767	359	5	results	result	NOUN
ejge-8767	359	6	selecting	select	VERB
ejge-8767	359	7	mutual	mutual	ADJ
ejge-8767	359	8	funds	fund	NOUN
ejge-8767	359	9	.	.	PUNCT
ejge-8767	360	1	spanish	spanish	ADJ
ejge-8767	360	2	journal	journal	PROPN
ejge-8767	360	3	of	of	ADP
ejge-8767	360	4	finance	finance	NOUN
ejge-8767	360	5	and	and	CCONJ
ejge-8767	360	6	accounting	accounting	NOUN
ejge-8767	360	7	,	,	PUNCT
ejge-8767	360	8	49(3	49(3	PROPN
ejge-8767	360	9	)	)	PUNCT
ejge-8767	360	10	,	,	PUNCT
ejge-8767	360	11	265	265	NUM
ejge-8767	360	12	-	-	SYM
ejge-8767	360	13	291	291	NUM
ejge-8767	360	14	.	.	PUNCT
ejge-8767	361	1	https://doi.org/10.1080/02102412.2019.1622066	https://doi.org/10.1080/02102412.2019.1622066	PROPN
ejge-8767	361	2	otero	otero	PROPN
ejge-8767	361	3	,	,	PUNCT
ejge-8767	361	4	l.	l.	PROPN
ejge-8767	361	5	&	&	CCONJ
ejge-8767	361	6	durán	durán	PROPN
ejge-8767	361	7	,	,	PUNCT
ejge-8767	361	8	p.	p.	NOUN
ejge-8767	361	9	(	(	PUNCT
ejge-8767	361	10	2021	2021	NUM
ejge-8767	361	11	)	)	PUNCT
ejge-8767	361	12	.	.	PUNCT
ejge-8767	361	13	is	be	AUX
ejge-8767	361	14	quantitative	quantitative	ADJ
ejge-8767	361	15	and	and	CCONJ
ejge-8767	361	16	qualitative	qualitative	ADJ
ejge-8767	361	17	information	information	NOUN
ejge-8767	361	18	relevant	relevant	ADJ
ejge-8767	361	19	for	for	ADP
ejge-8767	361	20	choosing	choose	VERB
ejge-8767	361	21	mutual	mutual	ADJ
ejge-8767	361	22	funds	fund	NOUN
ejge-8767	361	23	?	?	PUNCT
ejge-8767	362	1	journal	journal	NOUN
ejge-8767	362	2	of	of	ADP
ejge-8767	362	3	business	business	NOUN
ejge-8767	362	4	research	research	NOUN
ejge-8767	362	5	,	,	PUNCT
ejge-8767	362	6	123	123	NUM
ejge-8767	362	7	,	,	PUNCT
ejge-8767	362	8	476–488	476–488	NUM
ejge-8767	362	9	.	.	PUNCT
ejge-8767	363	1	https://doi.org/10.1016/j.jbusres.2020.10.015	https://doi.org/10.1016/j.jbusres.2020.10.015	NUM
ejge-8767	363	2	philips	philip	NOUN
ejge-8767	363	3	,	,	PUNCT
ejge-8767	363	4	c.b	c.b	PROPN
ejge-8767	363	5	.	.	PROPN
ejge-8767	363	6	,	,	PUNCT
ejge-8767	363	7	&	&	CCONJ
ejge-8767	363	8	kinniry	kinniry	PROPN
ejge-8767	363	9	,	,	PUNCT
ejge-8767	363	10	f.m	f.m	PROPN
ejge-8767	363	11	.	.	PROPN
ejge-8767	363	12	(	(	PUNCT
ejge-8767	363	13	2010	2010	NUM
ejge-8767	363	14	)	)	PUNCT
ejge-8767	363	15	.	.	PUNCT
ejge-8767	364	1	mutual	mutual	ADJ
ejge-8767	364	2	fund	fund	NOUN
ejge-8767	364	3	ratings	rating	NOUN
ejge-8767	364	4	and	and	CCONJ
ejge-8767	364	5	future	future	ADJ
ejge-8767	364	6	performance	performance	NOUN
ejge-8767	364	7	authors	author	NOUN
ejge-8767	364	8	.	.	PUNCT
ejge-8767	365	1	petajisto	petajisto	PROPN
ejge-8767	365	2	,	,	PUNCT
ejge-8767	365	3	a.	a.	NOUN
ejge-8767	365	4	(	(	PUNCT
ejge-8767	365	5	2013	2013	NUM
ejge-8767	365	6	)	)	PUNCT
ejge-8767	365	7	.	.	PUNCT
ejge-8767	366	1	active	active	ADJ
ejge-8767	366	2	share	share	NOUN
ejge-8767	366	3	and	and	CCONJ
ejge-8767	366	4	mutual	mutual	ADJ
ejge-8767	366	5	fund	fund	NOUN
ejge-8767	366	6	performance	performance	NOUN
ejge-8767	366	7	.	.	PUNCT
ejge-8767	367	1	financial	financial	ADJ
ejge-8767	367	2	analysts	analyst	NOUN
ejge-8767	367	3	journal	journal	NOUN
ejge-8767	367	4	,	,	PUNCT
ejge-8767	367	5	69	69	NUM
ejge-8767	367	6	(	(	PUNCT
ejge-8767	367	7	4	4	NUM
ejge-8767	367	8	)	)	PUNCT
ejge-8767	367	9	,	,	PUNCT
ejge-8767	367	10	73	73	NUM
ejge-8767	367	11	-	-	SYM
ejge-8767	367	12	93	93	NUM
ejge-8767	367	13	.	.	PUNCT
ejge-8767	368	1	https://doi.org/10.2469/faj.v69.n4.7	https://doi.org/10.2469/faj.v69.n4.7	NOUN
ejge-8767	368	2	treynor	treynor	NOUN
ejge-8767	368	3	j.	j.	PROPN
ejge-8767	368	4	(	(	PUNCT
ejge-8767	368	5	1965	1965	NUM
ejge-8767	368	6	)	)	PUNCT
ejge-8767	368	7	.	.	PUNCT
ejge-8767	369	1	how	how	SCONJ
ejge-8767	369	2	to	to	PART
ejge-8767	369	3	rate	rate	VERB
ejge-8767	369	4	management	management	NOUN
ejge-8767	369	5	of	of	ADP
ejge-8767	369	6	investment	investment	NOUN
ejge-8767	369	7	funds	fund	NOUN
ejge-8767	369	8	.	.	PUNCT
ejge-8767	370	1	harvard	harvard	PROPN
ejge-8767	370	2	business	business	PROPN
ejge-8767	370	3	review	review	PROPN
ejge-8767	370	4	,	,	PUNCT
ejge-8767	370	5	43(1	43(1	NOUN
ejge-8767	370	6	)	)	PUNCT
ejge-8767	370	7	,	,	PUNCT
ejge-8767	370	8	63	63	NUM
ejge-8767	370	9	-	-	SYM
ejge-8767	370	10	75	75	NUM
ejge-8767	370	11	.	.	PUNCT
ejge-8767	371	1	sharpe	sharpe	PROPN
ejge-8767	371	2	,	,	PUNCT
ejge-8767	371	3	w.	w.	PROPN
ejge-8767	371	4	(	(	PUNCT
ejge-8767	371	5	1991	1991	NUM
ejge-8767	371	6	)	)	PUNCT
ejge-8767	371	7	.	.	PUNCT
ejge-8767	372	1	the	the	DET
ejge-8767	372	2	arithmetic	arithmetic	NOUN
ejge-8767	372	3	of	of	ADP
ejge-8767	372	4	active	active	ADJ
ejge-8767	372	5	management	management	NOUN
ejge-8767	372	6	.	.	PUNCT
ejge-8767	373	1	financial	financial	ADJ
ejge-8767	373	2	analysts	analyst	NOUN
ejge-8767	373	3	journal	journal	NOUN
ejge-8767	373	4	,	,	PUNCT
ejge-8767	373	5	47	47	NUM
ejge-8767	373	6	,	,	PUNCT
ejge-8767	373	7	7	7	NUM
ejge-8767	373	8	-	-	SYM
ejge-8767	373	9	9	9	NUM
ejge-8767	373	10	.	.	PUNCT
ejge-8767	374	1	https://doi.org/10.2469/faj.v47.n1.7	https://doi.org/10.2469/faj.v47.n1.7	PROPN
ejge-8767	374	2	.	.	PUNCT
ejge-8767	375	1	sharpe	sharpe	PROPN
ejge-8767	375	2	,	,	PUNCT
ejge-8767	375	3	w.	w.	PROPN
ejge-8767	375	4	(	(	PUNCT
ejge-8767	375	5	1966	1966	NUM
ejge-8767	375	6	)	)	PUNCT
ejge-8767	375	7	.	.	PUNCT
ejge-8767	376	1	mutual	mutual	ADJ
ejge-8767	376	2	fund	fund	NOUN
ejge-8767	376	3	performance	performance	NOUN
ejge-8767	376	4	.	.	PUNCT
ejge-8767	377	1	the	the	DET
ejge-8767	377	2	journal	journal	NOUN
ejge-8767	377	3	of	of	ADP
ejge-8767	377	4	business	business	NOUN
ejge-8767	377	5	,	,	PUNCT
ejge-8767	377	6	39,119	39,119	NUM
ejge-8767	377	7	-	-	SYM
ejge-8767	377	8	138	138	NUM
ejge-8767	377	9	http://dx.doi.org/10.1086/294846	http://dx.doi.org/10.1086/294846	NOUN
ejge-8767	377	10	sirri	sirri	PROPN
ejge-8767	377	11	,	,	PUNCT
ejge-8767	377	12	e.	e.	PROPN
ejge-8767	377	13	,	,	PUNCT
ejge-8767	377	14	&	&	CCONJ
ejge-8767	377	15	tufano	tufano	ADJ
ejge-8767	377	16	,	,	PUNCT
ejge-8767	377	17	p.	p.	NOUN
ejge-8767	377	18	(	(	PUNCT
ejge-8767	377	19	1998	1998	NUM
ejge-8767	377	20	)	)	PUNCT
ejge-8767	377	21	.	.	PUNCT
ejge-8767	378	1	costly	costly	ADJ
ejge-8767	378	2	search	search	NOUN
ejge-8767	378	3	and	and	CCONJ
ejge-8767	378	4	mutual	mutual	ADJ
ejge-8767	378	5	fund	fund	NOUN
ejge-8767	378	6	flows	flow	NOUN
ejge-8767	378	7	.	.	PUNCT
ejge-8767	379	1	journal	journal	PROPN
ejge-8767	379	2	of	of	ADP
ejge-8767	379	3	finance	finance	NOUN
ejge-8767	379	4	,	,	PUNCT
ejge-8767	379	5	53(5	53(5	NUM
ejge-8767	379	6	)	)	PUNCT
ejge-8767	379	7	,	,	PUNCT
ejge-8767	379	8	1589	1589	NUM
ejge-8767	379	9	-	-	SYM
ejge-8767	379	10	1622	1622	NUM
ejge-8767	379	11	.	.	PUNCT
ejge-8767	380	1	https://doi.org/10.1111/0022-1082.00066	https://doi.org/10.1111/0022-1082.00066	PROPN
ejge-8767	380	2	wermers	wermer	NOUN
ejge-8767	380	3	,	,	PUNCT
ejge-8767	380	4	r.	r.	PROPN
ejge-8767	380	5	(	(	PUNCT
ejge-8767	380	6	2000	2000	NUM
ejge-8767	380	7	)	)	PUNCT
ejge-8767	380	8	.	.	PUNCT
ejge-8767	381	1	mutual	mutual	ADJ
ejge-8767	381	2	fund	fund	NOUN
ejge-8767	381	3	performance	performance	NOUN
ejge-8767	381	4	:	:	PUNCT
ejge-8767	381	5	an	an	DET
ejge-8767	381	6	empirical	empirical	ADJ
ejge-8767	381	7	decomposition	decomposition	NOUN
ejge-8767	381	8	into	into	ADP
ejge-8767	381	9	stock	stock	NOUN
ejge-8767	381	10	-	-	PUNCT
ejge-8767	381	11	picking	pick	VERB
ejge-8767	381	12	talent	talent	NOUN
ejge-8767	381	13	,	,	PUNCT
ejge-8767	381	14	style	style	NOUN
ejge-8767	381	15	,	,	PUNCT
ejge-8767	381	16	transaction	transaction	NOUN
ejge-8767	381	17	costs	cost	NOUN
ejge-8767	381	18	,	,	PUNCT
ejge-8767	381	19	and	and	CCONJ
ejge-8767	381	20	expenses	expense	NOUN
ejge-8767	381	21	.	.	PUNCT
ejge-8767	382	1	journal	journal	PROPN
ejge-8767	382	2	of	of	ADP
ejge-8767	382	3	finance	finance	NOUN
ejge-8767	382	4	,	,	PUNCT
ejge-8767	382	5	55(4),1655–1703	55(4),1655–1703	NUM
ejge-8767	382	6	.	.	PUNCT
ejge-8767	383	1	https://doi.org/10.1111/0022-1082.00263	https://doi.org/10.1111/0022-1082.00263	PROPN
ejge-8767	383	2	https://doi.org/10.1111/j.1540-6261.1996.tb02707.x	https://doi.org/10.1111/j.1540-6261.1996.tb02707.x	PROPN
ejge-8767	383	3	https://doi.org/10.1111/j.1540-6261.1968.tb00815.x	https://doi.org/10.1111/j.1540-6261.1968.tb00815.x	PROPN
ejge-8767	383	4	https://doi.org/10.2307/1913643	https://doi.org/10.2307/1913643	PART
ejge-8767	383	5	https://doi.org/10.2139/ssrn.1128983	https://doi.org/10.2139/ssrn.1128983	NOUN
ejge-8767	383	6	https://doi.org/10.1111/j.1540-6261.2006.01015.x	https://doi.org/10.1111/j.1540-6261.2006.01015.x	NOUN
ejge-8767	383	7	https://doi.org/10.2307/1913643	https://doi.org/10.2307/1913643	PUNCT
ejge-8767	383	8	https://doi.org/10.1016/j.jeconbus.2019.02.001	https://doi.org/10.1016/j.jeconbus.2019.02.001	PROPN
ejge-8767	383	9	https://doi.org/10.1111/j.1475-6803.1996.tb00597.x	https://doi.org/10.1111/j.1475-6803.1996.tb00597.x	PROPN
ejge-8767	383	10	https://doi.org/10.1111/j.1540-6261.1995.tb04795.x	https://doi.org/10.1111/j.1540-6261.1995.tb04795.x	PROPN
ejge-8767	383	11	https://doi.org/10.1080/13504851.2011.602008	https://doi.org/10.1080/13504851.2011.602008	NOUN
ejge-8767	383	12	https://doi.org/10.2139/ssrn.1943577	https://doi.org/10.2139/ssrn.1943577	PRON
ejge-8767	383	13	https://doi.org/10.2139/ssrn.455240	https://doi.org/10.2139/ssrn.455240	NOUN
ejge-8767	383	14	https://doi.org/10.2139/ssrn.890128	https://doi.org/10.2139/ssrn.890128	NOUN
ejge-8767	383	15	https://doi.org/10.1111/j.1468-036x.2011.00632.x	https://doi.org/10.1111/j.1468-036x.2011.00632.x	PROPN
ejge-8767	383	16	https://doi.org/10.2139/ssrn.955807	https://doi.org/10.2139/ssrn.955807	VERB
ejge-8767	383	17	https://doi.org/10.1080/02102412.2019.1622066	https://doi.org/10.1080/02102412.2019.1622066	PROPN
ejge-8767	383	18	https://doi.org/10.1016/j.jbusres.2020.10.015	https://doi.org/10.1016/j.jbusres.2020.10.015	X
ejge-8767	383	19	https://doi.org/10.2469/faj.v69.n4.7	https://doi.org/10.2469/faj.v69.n4.7	ADJ
ejge-8767	383	20	http://dx.doi.org/10.1086/294846	http://dx.doi.org/10.1086/294846	ADJ
ejge-8767	383	21	https://doi.org/10.1111/0022-1082.00066	https://doi.org/10.1111/0022-1082.00066	PROPN
ejge-8767	383	22	https://doi.org/10.1111/0022-1082.00263	https://doi.org/10.1111/0022-1082.00263	PROPN
ejge-8767	383	23	renato	renato	PROPN
ejge-8767	383	24	correia	correia	PROPN
ejge-8767	383	25	-	-	PUNCT
ejge-8767	383	26	domingues	domingue	NOUN
ejge-8767	383	27	et	et	PROPN
ejge-8767	383	28	al	al	PROPN
ejge-8767	383	29	.	.	PUNCT
ejge-8767	383	30	/	/	SYM
ejge-8767	383	31	european	european	PROPN
ejge-8767	383	32	journal	journal	PROPN
ejge-8767	383	33	of	of	ADP
ejge-8767	383	34	government	government	NOUN
ejge-8767	383	35	and	and	CCONJ
ejge-8767	383	36	economics	economic	NOUN
ejge-8767	383	37	11(1	11(1	NUM
ejge-8767	383	38	)	)	PUNCT
ejge-8767	383	39	,	,	PUNCT
ejge-8767	383	40	june	june	PROPN
ejge-8767	383	41	2022	2022	NUM
ejge-8767	383	42	,	,	PUNCT
ejge-8767	383	43	31	31	NUM
ejge-8767	383	44	-	-	SYM
ejge-8767	383	45	50	50	NUM
ejge-8767	383	46	47	47	NUM
ejge-8767	383	47	annex	annex	NOUN
ejge-8767	383	48	1	1	NUM
ejge-8767	383	49	.	.	PUNCT
ejge-8767	384	1	regression	regression	NOUN
ejge-8767	384	2	in	in	ADP
ejge-8767	384	3	the	the	DET
ejge-8767	384	4	panel	panel	NOUN
ejge-8767	384	5	data	datum	NOUN
ejge-8767	384	6	of	of	ADP
ejge-8767	384	7	the	the	DET
ejge-8767	384	8	expenditure	expenditure	NOUN
ejge-8767	384	9	ratio	ratio	NOUN
ejge-8767	384	10	(	(	PUNCT
ejge-8767	384	11	t-1	t-1	PROPN
ejge-8767	384	12	)	)	PUNCT
ejge-8767	384	13	of	of	ADP
ejge-8767	384	14	the	the	DET
ejge-8767	384	15	funds	fund	NOUN
ejge-8767	384	16	with	with	ADP
ejge-8767	384	17	respect	respect	NOUN
ejge-8767	384	18	to	to	ADP
ejge-8767	384	19	their	their	PRON
ejge-8767	384	20	performance	performance	NOUN
ejge-8767	384	21	,	,	PUNCT
ejge-8767	384	22	with	with	ADP
ejge-8767	384	23	random	random	ADJ
ejge-8767	384	24	effects	effect	NOUN
ejge-8767	384	25	.	.	PUNCT
ejge-8767	385	1	annex	annex	VERB
ejge-8767	385	2	2	2	NUM
ejge-8767	385	3	.	.	PUNCT
ejge-8767	386	1	regression	regression	NOUN
ejge-8767	386	2	in	in	ADP
ejge-8767	386	3	the	the	DET
ejge-8767	386	4	panel	panel	NOUN
ejge-8767	386	5	data	datum	NOUN
ejge-8767	386	6	of	of	ADP
ejge-8767	386	7	the	the	DET
ejge-8767	386	8	fund	fund	NOUN
ejge-8767	386	9	's	's	PART
ejge-8767	386	10	expense	expense	NOUN
ejge-8767	386	11	ratio	ratio	NOUN
ejge-8767	386	12	with	with	ADP
ejge-8767	386	13	respect	respect	NOUN
ejge-8767	386	14	to	to	ADP
ejge-8767	386	15	its	its	PRON
ejge-8767	386	16	performance	performance	NOUN
ejge-8767	386	17	with	with	ADP
ejge-8767	386	18	star	star	NOUN
ejge-8767	386	19	rating	rating	NOUN
ejge-8767	386	20	control	control	NOUN
ejge-8767	386	21	variables	variable	NOUN
ejge-8767	386	22	(	(	PUNCT
ejge-8767	386	23	t-1	t-1	PROPN
ejge-8767	386	24	)	)	PUNCT
ejge-8767	386	25	,	,	PUNCT
ejge-8767	386	26	with	with	ADP
ejge-8767	386	27	random	random	ADJ
ejge-8767	386	28	effects	effect	NOUN
ejge-8767	386	29	.	.	PUNCT
ejge-8767	387	1	variable	variable	ADJ
ejge-8767	387	2	alfa	alfa	PROPN
ejge-8767	387	3	sharpe	sharpe	PROPN
ejge-8767	387	4	sortino	sortino	PROPN
ejge-8767	387	5	annual	annual	ADJ
ejge-8767	387	6	return	return	VERB
ejge-8767	387	7	net	net	ADJ
ejge-8767	387	8	expenses	expense	NOUN
ejge-8767	387	9	(	(	PUNCT
ejge-8767	387	10	t-1	t-1	PROPN
ejge-8767	387	11	)	)	PUNCT
ejge-8767	387	12	-0.0369	-0.0369	PROPN
ejge-8767	387	13	*	*	PUNCT
ejge-8767	388	1	*	*	PUNCT
ejge-8767	388	2	-0.0154	-0.0154	NOUN
ejge-8767	388	3	*	*	PUNCT
ejge-8767	388	4	*	*	NOUN
ejge-8767	388	5	-0.0268	-0.0268	NOUN
ejge-8767	388	6	*	*	SYM
ejge-8767	388	7	*	*	NOUN
ejge-8767	388	8	-0.6968	-0.6968	NOUN
ejge-8767	388	9	*	*	PUNCT
ejge-8767	388	10	*	*	PUNCT
ejge-8767	388	11	*	*	PROPN
ejge-8767	388	12	tenure	tenure	NOUN
ejge-8767	388	13	(	(	PUNCT
ejge-8767	388	14	t-1	t-1	PROPN
ejge-8767	388	15	)	)	PUNCT
ejge-8767	388	16	0.0013	0.0013	NUM
ejge-8767	388	17	0.0011	0.0011	NUM
ejge-8767	388	18	0.0010	0.0010	NUM
ejge-8767	388	19	-0.0084	-0.0084	NOUN
ejge-8767	388	20	net	net	ADJ
ejge-8767	388	21	assets	asset	NOUN
ejge-8767	388	22	(	(	PUNCT
ejge-8767	388	23	t-1	t-1	PROPN
ejge-8767	388	24	)	)	PUNCT
ejge-8767	388	25	-0.0076	-0.0076	NOUN
ejge-8767	389	1	0.0075	0.0075	NUM
ejge-8767	389	2	*	*	PUNCT
ejge-8767	389	3	0.0157	0.0157	NUM
ejge-8767	389	4	*	*	PUNCT
ejge-8767	389	5	*	*	PUNCT
ejge-8767	389	6	-0.1399	-0.1399	NOUN
ejge-8767	389	7	funds	fund	NOUN
ejge-8767	389	8	years	year	NOUN
ejge-8767	389	9	(	(	PUNCT
ejge-8767	389	10	t-1	t-1	PROPN
ejge-8767	389	11	)	)	PUNCT
ejge-8767	389	12	0.0001	0.0001	NUM
ejge-8767	389	13	-0.0037	-0.0037	NOUN
ejge-8767	389	14	*	*	PUNCT
ejge-8767	389	15	*	*	NOUN
ejge-8767	389	16	-0.0064	-0.0064	NOUN
ejge-8767	389	17	*	*	PUNCT
ejge-8767	389	18	*	*	PUNCT
ejge-8767	389	19	-0.0320	-0.0320	NOUN
ejge-8767	389	20	flexcap	flexcap	NOUN
ejge-8767	389	21	0.2485	0.2485	NUM
ejge-8767	389	22	0.0583	0.0583	NUM
ejge-8767	389	23	0.1223	0.1223	NUM
ejge-8767	389	24	1.9633	1.9633	NUM
ejge-8767	389	25	largecap	largecap	NOUN
ejge-8767	389	26	0.1583	0.1583	NUM
ejge-8767	389	27	-0.0037	-0.0037	NOUN
ejge-8767	389	28	0.0008	0.0008	NUM
ejge-8767	389	29	0.1106	0.1106	NUM
ejge-8767	389	30	midcap	midcap	NOUN
ejge-8767	389	31	0.2714	0.2714	NUM
ejge-8767	389	32	*	*	NOUN
ejge-8767	389	33	0.2490	0.2490	NUM
ejge-8767	389	34	*	*	PUNCT
ejge-8767	389	35	*	*	PUNCT
ejge-8767	389	36	*	*	PUNCT
ejge-8767	389	37	0.4068	0.4068	NUM
ejge-8767	389	38	*	*	PUNCT
ejge-8767	389	39	*	*	PUNCT
ejge-8767	389	40	*	*	PUNCT
ejge-8767	389	41	5.7077	5.7077	NUM
ejge-8767	389	42	*	*	PUNCT
ejge-8767	389	43	*	*	PUNCT
ejge-8767	389	44	*	*	PUNCT
ejge-8767	389	45	smallcap	smallcap	NOUN
ejge-8767	389	46	0.3249	0.3249	NUM
ejge-8767	389	47	*	*	PUNCT
ejge-8767	389	48	*	*	NOUN
ejge-8767	389	49	0.2271	0.2271	NUM
ejge-8767	389	50	*	*	PUNCT
ejge-8767	389	51	*	*	PUNCT
ejge-8767	389	52	*	*	PUNCT
ejge-8767	389	53	0.3822	0.3822	NUM
ejge-8767	389	54	*	*	PUNCT
ejge-8767	389	55	*	*	PUNCT
ejge-8767	389	56	*	*	PUNCT
ejge-8767	390	1	5.3183	5.3183	NUM
ejge-8767	390	2	*	*	PUNCT
ejge-8767	390	3	*	*	PUNCT
ejge-8767	390	4	*	*	PUNCT
ejge-8767	390	5	_	_	PUNCT
ejge-8767	390	6	cons	con	NOUN
ejge-8767	390	7	0.4959	0.4959	NUM
ejge-8767	390	8	*	*	PUNCT
ejge-8767	390	9	*	*	PUNCT
ejge-8767	390	10	1.2121	1.2121	NUM
ejge-8767	390	11	*	*	PUNCT
ejge-8767	390	12	*	*	PUNCT
ejge-8767	390	13	*	*	X
ejge-8767	390	14	2.2216	2.2216	NUM
ejge-8767	390	15	*	*	PUNCT
ejge-8767	390	16	*	*	PUNCT
ejge-8767	390	17	*	*	PUNCT
ejge-8767	391	1	6.4395	6.4395	NUM
ejge-8767	391	2	*	*	PUNCT
ejge-8767	391	3	*	*	PUNCT
ejge-8767	391	4	*	*	PUNCT
ejge-8767	391	5	n	n	PROPN
ejge-8767	391	6	1349	1349	NUM
ejge-8767	391	7	1231	1231	NUM
ejge-8767	391	8	1231	1231	NUM
ejge-8767	391	9	1361	1361	NUM
ejge-8767	391	10	r2_w	r2_w	NOUN
ejge-8767	391	11	0.7128	0.7128	NUM
ejge-8767	391	12	0.9431	0.9431	NUM
ejge-8767	391	13	0.9204	0.9204	NUM
ejge-8767	391	14	0.9444	0.9444	NUM
ejge-8767	391	15	variable	variable	ADJ
ejge-8767	391	16	alfa	alfa	NOUN
ejge-8767	391	17	sharpe	sharpe	PROPN
ejge-8767	391	18	sortino	sortino	PROPN
ejge-8767	391	19	annual	annual	ADJ
ejge-8767	391	20	return	return	VERB
ejge-8767	391	21	net	net	ADJ
ejge-8767	391	22	expenses	expense	NOUN
ejge-8767	391	23	-0.0190	-0.0190	ADJ
ejge-8767	391	24	-0.0092	-0.0092	PROPN
ejge-8767	391	25	-0.0205	-0.0205	VERB
ejge-8767	391	26	0.4999	0.4999	NUM
ejge-8767	391	27	*	*	PUNCT
ejge-8767	391	28	tenure	tenure	NOUN
ejge-8767	391	29	0.0003	0.0003	NUM
ejge-8767	391	30	-0.0001	-0.0001	NOUN
ejge-8767	391	31	-0.0006	-0.0006	NOUN
ejge-8767	391	32	-0.0048	-0.0048	NOUN
ejge-8767	391	33	net	net	ADJ
ejge-8767	391	34	assets	asset	NOUN
ejge-8767	391	35	-0.0037	-0.0037	PUNCT
ejge-8767	392	1	0.0108	0.0108	NUM
ejge-8767	392	2	*	*	PUNCT
ejge-8767	392	3	*	*	PUNCT
ejge-8767	392	4	*	*	PUNCT
ejge-8767	393	1	0.0159	0.0159	NUM
ejge-8767	393	2	*	*	PUNCT
ejge-8767	393	3	*	*	PUNCT
ejge-8767	393	4	0.2073	0.2073	NUM
ejge-8767	393	5	funds	fund	NOUN
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ejge-8767	393	7	0.0015	0.0015	NUM
ejge-8767	393	8	-0.0009	-0.0009	PROPN
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ejge-8767	393	10	-0.0836	-0.0836	PROPN
ejge-8767	393	11	*	*	SYM
ejge-8767	393	12	1	1	NUM
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ejge-8767	393	14	(	(	PUNCT
ejge-8767	393	15	t-1	t-1	PROPN
ejge-8767	393	16	)	)	PUNCT
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ejge-8767	393	18	*	*	PUNCT
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ejge-8767	393	20	*	*	PUNCT
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ejge-8767	394	1	*	*	PUNCT
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ejge-8767	395	5	2	2	NUM
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ejge-8767	395	7	(	(	PUNCT
ejge-8767	395	8	t-1	t-1	PROPN
ejge-8767	395	9	)	)	PUNCT
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ejge-8767	395	11	*	*	PROPN
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ejge-8767	395	14	*	*	PUNCT
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ejge-8767	395	18	*	*	PUNCT
ejge-8767	396	1	*	*	PUNCT
ejge-8767	396	2	*	*	PUNCT
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ejge-8767	396	4	*	*	SYM
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ejge-8767	396	7	(	(	PUNCT
ejge-8767	396	8	t-1	t-1	PROPN
ejge-8767	396	9	)	)	PUNCT
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ejge-8767	397	1	*	*	PUNCT
ejge-8767	397	2	*	*	NOUN
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ejge-8767	397	4	*	*	PUNCT
ejge-8767	397	5	*	*	PUNCT
ejge-8767	397	6	*	*	PUNCT
ejge-8767	397	7	-0.4549	-0.4549	NOUN
ejge-8767	397	8	*	*	PUNCT
ejge-8767	397	9	*	*	PUNCT
ejge-8767	397	10	*	*	PUNCT
ejge-8767	397	11	1.1838	1.1838	NUM
ejge-8767	397	12	4	4	NUM
ejge-8767	397	13	stars	star	NOUN
ejge-8767	397	14	(	(	PUNCT
ejge-8767	397	15	t-1	t-1	PROPN
ejge-8767	397	16	)	)	PUNCT
ejge-8767	397	17	-0.1250	-0.1250	NOUN
ejge-8767	397	18	*	*	PUNCT
ejge-8767	397	19	*	*	PUNCT
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ejge-8767	398	1	*	*	PUNCT
ejge-8767	398	2	*	*	PUNCT
ejge-8767	398	3	*	*	PUNCT
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ejge-8767	398	5	*	*	PUNCT
ejge-8767	399	1	*	*	PUNCT
ejge-8767	399	2	*	*	X
ejge-8767	399	3	0.4315	0.4315	NUM
ejge-8767	399	4	flexcap	flexcap	NOUN
ejge-8767	399	5	0.3118	0.3118	NUM
ejge-8767	399	6	*	*	PUNCT
ejge-8767	399	7	*	*	PUNCT
ejge-8767	399	8	0.0858	0.0858	NUM
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ejge-8767	399	10	*	*	PUNCT
ejge-8767	399	11	*	*	PUNCT
ejge-8767	399	12	1.7596	1.7596	NUM
ejge-8767	399	13	largecap	largecap	NOUN
ejge-8767	399	14	0.3028	0.3028	NUM
ejge-8767	399	15	*	*	PUNCT
ejge-8767	399	16	*	*	PROPN
ejge-8767	399	17	0.0097	0.0097	NUM
ejge-8767	399	18	0.0080	0.0080	NUM
ejge-8767	399	19	0.7730	0.7730	NUM
ejge-8767	399	20	midcap	midcap	NOUN
ejge-8767	399	21	0.4016	0.4016	NUM
ejge-8767	399	22	*	*	PUNCT
ejge-8767	399	23	*	*	PUNCT
ejge-8767	399	24	*	*	PUNCT
ejge-8767	399	25	0.1528	0.1528	NUM
ejge-8767	399	26	*	*	PUNCT
ejge-8767	399	27	*	*	PUNCT
ejge-8767	400	1	0.2488	0.2488	NUM
ejge-8767	400	2	*	*	PUNCT
ejge-8767	400	3	*	*	PUNCT
ejge-8767	400	4	5.8792	5.8792	NUM
ejge-8767	400	5	*	*	PUNCT
ejge-8767	400	6	*	*	PROPN
ejge-8767	400	7	smallcap	smallcap	NOUN
ejge-8767	400	8	0.6900	0.6900	NUM
ejge-8767	400	9	*	*	PUNCT
ejge-8767	400	10	*	*	PUNCT
ejge-8767	400	11	*	*	PUNCT
ejge-8767	400	12	0.1959	0.1959	NUM
ejge-8767	400	13	*	*	PUNCT
ejge-8767	400	14	*	*	PUNCT
ejge-8767	400	15	*	*	PUNCT
ejge-8767	401	1	0.2889	0.2889	PUNCT
ejge-8767	401	2	*	*	PUNCT
ejge-8767	401	3	*	*	PUNCT
ejge-8767	401	4	*	*	PUNCT
ejge-8767	402	1	7.6662	7.6662	NUM
ejge-8767	402	2	*	*	PUNCT
ejge-8767	402	3	*	*	PUNCT
ejge-8767	403	1	*	*	PUNCT
ejge-8767	403	2	_	_	PUNCT
ejge-8767	403	3	cons	con	NOUN
ejge-8767	403	4	0.3502	0.3502	NUM
ejge-8767	403	5	1.2970	1.2970	NUM
ejge-8767	403	6	*	*	PUNCT
ejge-8767	403	7	*	*	PUNCT
ejge-8767	403	8	*	*	PUNCT
ejge-8767	403	9	2.4671	2.4671	NUM
ejge-8767	403	10	*	*	PUNCT
ejge-8767	403	11	*	*	PUNCT
ejge-8767	403	12	*	*	PUNCT
ejge-8767	403	13	-2.1236	-2.1236	PROPN
ejge-8767	403	14	n	n	PROPN
ejge-8767	403	15	978	978	NUM
ejge-8767	403	16	990	990	NUM
ejge-8767	403	17	990	990	NUM
ejge-8767	403	18	990	990	NUM
ejge-8767	403	19	r2_w	r2_w	NOUN
ejge-8767	403	20	0.7059	0.7059	NUM
ejge-8767	403	21	0.9503	0.9503	NUM
ejge-8767	403	22	0.9134	0.9134	NUM
ejge-8767	403	23	0.9493	0.9493	NUM
ejge-8767	403	24	renato	renato	PROPN
ejge-8767	403	25	correia	correia	PROPN
ejge-8767	403	26	-	-	PUNCT
ejge-8767	403	27	domingues	domingue	NOUN
ejge-8767	403	28	et	et	PROPN
ejge-8767	403	29	al	al	PROPN
ejge-8767	403	30	.	.	PUNCT
ejge-8767	403	31	/	/	SYM
ejge-8767	403	32	european	european	PROPN
ejge-8767	403	33	journal	journal	PROPN
ejge-8767	403	34	of	of	ADP
ejge-8767	403	35	government	government	NOUN
ejge-8767	403	36	and	and	CCONJ
ejge-8767	403	37	economics	economic	NOUN
ejge-8767	403	38	11(1	11(1	NUM
ejge-8767	403	39	)	)	PUNCT
ejge-8767	403	40	,	,	PUNCT
ejge-8767	403	41	june	june	PROPN
ejge-8767	403	42	2022	2022	NUM
ejge-8767	403	43	,	,	PUNCT
ejge-8767	403	44	31	31	NUM
ejge-8767	403	45	-	-	SYM
ejge-8767	403	46	50	50	NUM
ejge-8767	403	47	48	48	NUM
ejge-8767	403	48	annex	annex	NOUN
ejge-8767	403	49	3	3	NUM
ejge-8767	403	50	.	.	PUNCT
ejge-8767	404	1	regression	regression	NOUN
ejge-8767	404	2	in	in	ADP
ejge-8767	404	3	the	the	DET
ejge-8767	404	4	panel	panel	NOUN
ejge-8767	404	5	data	datum	NOUN
ejge-8767	404	6	,	,	PUNCT
ejge-8767	404	7	of	of	ADP
ejge-8767	404	8	the	the	DET
ejge-8767	404	9	expense	expense	NOUN
ejge-8767	404	10	ratio	ratio	NOUN
ejge-8767	404	11	(	(	PUNCT
ejge-8767	404	12	t-1	t-1	PROPN
ejge-8767	404	13	)	)	PUNCT
ejge-8767	404	14	of	of	ADP
ejge-8767	404	15	the	the	DET
ejge-8767	404	16	funds	fund	NOUN
ejge-8767	404	17	with	with	ADP
ejge-8767	404	18	respect	respect	NOUN
ejge-8767	404	19	to	to	ADP
ejge-8767	404	20	their	their	PRON
ejge-8767	404	21	performance	performance	NOUN
ejge-8767	404	22	with	with	ADP
ejge-8767	404	23	star	star	NOUN
ejge-8767	404	24	rating	rating	NOUN
ejge-8767	404	25	control	control	NOUN
ejge-8767	404	26	variables	variable	NOUN
ejge-8767	404	27	(	(	PUNCT
ejge-8767	404	28	t-1	t-1	PROPN
ejge-8767	404	29	)	)	PUNCT
ejge-8767	404	30	,	,	PUNCT
ejge-8767	404	31	with	with	ADP
ejge-8767	404	32	random	random	ADJ
ejge-8767	404	33	effects	effect	NOUN
ejge-8767	404	34	.	.	PUNCT
ejge-8767	405	1	variable	variable	ADJ
ejge-8767	405	2	alfa	alfa	PROPN
ejge-8767	405	3	sharpe	sharpe	PROPN
ejge-8767	405	4	sortino	sortino	PROPN
ejge-8767	405	5	annual	annual	ADJ
ejge-8767	405	6	return	return	VERB
ejge-8767	405	7	net	net	ADJ
ejge-8767	405	8	expenses	expense	NOUN
ejge-8767	405	9	(	(	PUNCT
ejge-8767	405	10	t-1	t-1	PROPN
ejge-8767	405	11	)	)	PUNCT
ejge-8767	405	12	-0.0399	-0.0399	NOUN
ejge-8767	405	13	*	*	PUNCT
ejge-8767	405	14	*	*	PUNCT
ejge-8767	405	15	-0.0097	-0.0097	PROPN
ejge-8767	405	16	-0.0166	-0.0166	VERB
ejge-8767	405	17	-0.6335	-0.6335	PROPN
ejge-8767	405	18	*	*	PUNCT
ejge-8767	405	19	*	*	PUNCT
ejge-8767	405	20	*	*	PUNCT
ejge-8767	405	21	tenure(t-1	tenure(t-1	NOUN
ejge-8767	405	22	)	)	PUNCT
ejge-8767	405	23	0.0007	0.0007	NUM
ejge-8767	405	24	0.0006	0.0006	NUM
ejge-8767	405	25	0.0006	0.0006	NUM
ejge-8767	405	26	0.0022	0.0022	NUM
ejge-8767	405	27	net	net	ADJ
ejge-8767	405	28	assets	asset	NOUN
ejge-8767	405	29	(	(	PUNCT
ejge-8767	405	30	t-1	t-1	PROPN
ejge-8767	405	31	)	)	PUNCT
ejge-8767	405	32	-0.0075	-0.0075	PROPN
ejge-8767	405	33	0.0042	0.0042	NUM
ejge-8767	405	34	0.0096	0.0096	NUM
ejge-8767	405	35	-0.1236	-0.1236	NOUN
ejge-8767	405	36	funds	fund	NOUN
ejge-8767	405	37	years	year	NOUN
ejge-8767	405	38	(	(	PUNCT
ejge-8767	405	39	t-1	t-1	PROPN
ejge-8767	405	40	)	)	PUNCT
ejge-8767	405	41	0.0027	0.0027	NUM
ejge-8767	405	42	-0.0011	-0.0011	X
ejge-8767	405	43	-0.0025	-0.0025	ADJ
ejge-8767	405	44	-0.0193	-0.0193	NOUN
ejge-8767	405	45	1	1	NUM
ejge-8767	405	46	star	star	NOUN
ejge-8767	405	47	(	(	PUNCT
ejge-8767	405	48	t-1	t-1	PROPN
ejge-8767	405	49	)	)	PUNCT
ejge-8767	405	50	-0.2097	-0.2097	NOUN
ejge-8767	406	1	*	*	PUNCT
ejge-8767	406	2	*	*	PUNCT
ejge-8767	406	3	*	*	PUNCT
ejge-8767	406	4	-0.3912	-0.3912	PROPN
ejge-8767	406	5	*	*	PUNCT
ejge-8767	406	6	*	*	PUNCT
ejge-8767	406	7	*	*	PUNCT
ejge-8767	406	8	-0.6179	-0.6179	NOUN
ejge-8767	406	9	*	*	PUNCT
ejge-8767	406	10	*	*	PUNCT
ejge-8767	406	11	*	*	PUNCT
ejge-8767	406	12	-2.5680	-2.5680	X
ejge-8767	406	13	*	*	PUNCT
ejge-8767	406	14	*	*	PUNCT
ejge-8767	406	15	*	*	SYM
ejge-8767	406	16	2	2	NUM
ejge-8767	406	17	stars	star	NOUN
ejge-8767	406	18	(	(	PUNCT
ejge-8767	406	19	t-1	t-1	PROPN
ejge-8767	406	20	)	)	PUNCT
ejge-8767	406	21	-0.0424	-0.0424	PUNCT
ejge-8767	406	22	-0.2968	-0.2968	PROPN
ejge-8767	407	1	*	*	PUNCT
ejge-8767	407	2	*	*	PUNCT
ejge-8767	407	3	*	*	PUNCT
ejge-8767	407	4	-0.5103	-0.5103	X
ejge-8767	407	5	*	*	PUNCT
ejge-8767	407	6	*	*	PUNCT
ejge-8767	407	7	*	*	PUNCT
ejge-8767	407	8	-0.0497	-0.0497	NOUN
ejge-8767	407	9	3	3	NUM
ejge-8767	407	10	stars	star	NOUN
ejge-8767	407	11	(	(	PUNCT
ejge-8767	407	12	t-1	t-1	PROPN
ejge-8767	407	13	)	)	PUNCT
ejge-8767	407	14	-0.0448	-0.0448	NOUN
ejge-8767	407	15	-0.2283	-0.2283	NOUN
ejge-8767	407	16	*	*	PUNCT
ejge-8767	408	1	*	*	PUNCT
ejge-8767	408	2	*	*	PUNCT
ejge-8767	408	3	-0.4071	-0.4071	ADJ
ejge-8767	408	4	*	*	PUNCT
ejge-8767	408	5	*	*	PUNCT
ejge-8767	408	6	*	*	PUNCT
ejge-8767	408	7	-0.4580	-0.4580	ADJ
ejge-8767	408	8	4	4	NUM
ejge-8767	408	9	stars	star	NOUN
ejge-8767	408	10	(	(	PUNCT
ejge-8767	408	11	t-1	t-1	PROPN
ejge-8767	408	12	)	)	PUNCT
ejge-8767	408	13	-0.0253	-0.0253	NOUN
ejge-8767	409	1	-0.1503	-0.1503	NOUN
ejge-8767	410	1	*	*	PUNCT
ejge-8767	411	1	*	*	PUNCT
ejge-8767	411	2	*	*	PUNCT
ejge-8767	411	3	-0.2846	-0.2846	X
ejge-8767	411	4	*	*	PUNCT
ejge-8767	411	5	*	*	PUNCT
ejge-8767	411	6	*	*	PUNCT
ejge-8767	411	7	-0.7123	-0.7123	NOUN
ejge-8767	411	8	flexcap	flexcap	VERB
ejge-8767	411	9	0.1775	0.1775	NUM
ejge-8767	412	1	0.0353	0.0353	NUM
ejge-8767	412	2	0.0857	0.0857	NUM
ejge-8767	412	3	2.1077	2.1077	NUM
ejge-8767	412	4	largecap	largecap	NOUN
ejge-8767	412	5	0.1723	0.1723	NUM
ejge-8767	412	6	-0.0126	-0.0126	NOUN
ejge-8767	412	7	-0.0146	-0.0146	VERB
ejge-8767	412	8	0.6891	0.6891	NUM
ejge-8767	412	9	midcap	midcap	NOUN
ejge-8767	412	10	0.1683	0.1683	NUM
ejge-8767	412	11	0.1867	0.1867	NUM
ejge-8767	412	12	*	*	PUNCT
ejge-8767	412	13	*	*	PUNCT
ejge-8767	412	14	*	*	PUNCT
ejge-8767	412	15	0.3049	0.3049	PUNCT
ejge-8767	412	16	*	*	PUNCT
ejge-8767	412	17	*	*	PUNCT
ejge-8767	413	1	5.5410	5.5410	NUM
ejge-8767	413	2	*	*	PUNCT
ejge-8767	413	3	*	*	PUNCT
ejge-8767	413	4	*	*	PROPN
ejge-8767	413	5	smallcap	smallcap	NOUN
ejge-8767	413	6	0.3561	0.3561	NUM
ejge-8767	413	7	*	*	PUNCT
ejge-8767	413	8	0.2441	0.2441	NUM
ejge-8767	413	9	*	*	PUNCT
ejge-8767	413	10	*	*	PUNCT
ejge-8767	413	11	*	*	PUNCT
ejge-8767	413	12	0.4076	0.4076	NUM
ejge-8767	413	13	*	*	PUNCT
ejge-8767	413	14	*	*	PUNCT
ejge-8767	413	15	*	*	PUNCT
ejge-8767	414	1	6.7557	6.7557	NUM
ejge-8767	414	2	*	*	PUNCT
ejge-8767	414	3	*	*	PUNCT
ejge-8767	415	1	*	*	PUNCT
ejge-8767	415	2	_	_	PUNCT
ejge-8767	415	3	cons	con	NOUN
ejge-8767	415	4	0.4901	0.4901	NUM
ejge-8767	415	5	*	*	SYM
ejge-8767	415	6	1.4092	1.4092	NUM
ejge-8767	415	7	*	*	PUNCT
ejge-8767	415	8	*	*	PUNCT
ejge-8767	415	9	*	*	PUNCT
ejge-8767	415	10	2.5632	2.5632	NUM
ejge-8767	415	11	*	*	PUNCT
ejge-8767	415	12	*	*	PUNCT
ejge-8767	415	13	*	*	PUNCT
ejge-8767	416	1	5.8080	5.8080	NUM
ejge-8767	416	2	*	*	NOUN
ejge-8767	416	3	*	*	NOUN
ejge-8767	416	4	n	n	NUM
ejge-8767	416	5	1057	1057	NUM
ejge-8767	416	6	1068	1068	NUM
ejge-8767	416	7	1068	1068	NUM
ejge-8767	416	8	1068	1068	NUM
ejge-8767	416	9	r2_w	r2_w	NOUN
ejge-8767	416	10	0.7362	0.7362	NUM
ejge-8767	416	11	0.9492	0.9492	NUM
ejge-8767	416	12	0.9317	0.9317	NUM
ejge-8767	416	13	0.9431	0.9431	NUM
ejge-8767	416	14	renato	renato	PROPN
ejge-8767	416	15	correia	correia	PROPN
ejge-8767	416	16	-	-	PUNCT
ejge-8767	416	17	domingues	domingue	NOUN
ejge-8767	416	18	et	et	PROPN
ejge-8767	416	19	al	al	PROPN
ejge-8767	416	20	.	.	PUNCT
ejge-8767	416	21	/	/	SYM
ejge-8767	416	22	european	european	PROPN
ejge-8767	416	23	journal	journal	PROPN
ejge-8767	416	24	of	of	ADP
ejge-8767	416	25	government	government	NOUN
ejge-8767	416	26	and	and	CCONJ
ejge-8767	416	27	economics	economic	NOUN
ejge-8767	416	28	11(1	11(1	NUM
ejge-8767	416	29	)	)	PUNCT
ejge-8767	416	30	,	,	PUNCT
ejge-8767	416	31	june	june	PROPN
ejge-8767	416	32	2022	2022	NUM
ejge-8767	416	33	,	,	PUNCT
ejge-8767	416	34	31	31	NUM
ejge-8767	416	35	-	-	SYM
ejge-8767	416	36	50	50	NUM
ejge-8767	416	37	49	49	NUM
ejge-8767	416	38	annex	annex	VERB
ejge-8767	416	39	4	4	NUM
ejge-8767	416	40	.	.	PUNCT
ejge-8767	416	41	quantile	quantile	ADJ
ejge-8767	416	42	regression	regression	NOUN
ejge-8767	416	43	of	of	ADP
ejge-8767	416	44	the	the	DET
ejge-8767	416	45	relationship	relationship	NOUN
ejge-8767	416	46	between	between	ADP
ejge-8767	416	47	performance	performance	NOUN
ejge-8767	416	48	and	and	CCONJ
ejge-8767	416	49	expenses	expense	NOUN
ejge-8767	416	50	.	.	PUNCT
ejge-8767	417	1	variable	variable	ADJ
ejge-8767	417	2	alfa	alfa	PROPN
ejge-8767	417	3	sharpe	sharpe	PROPN
ejge-8767	417	4	sortino	sortino	PROPN
ejge-8767	417	5	annual	annual	ADJ
ejge-8767	417	6	return	return	PROPN
ejge-8767	417	7	q25	q25	NOUN
ejge-8767	417	8	net	net	ADJ
ejge-8767	417	9	expenses	expense	NOUN
ejge-8767	417	10	-0.0702	-0.0702	NOUN
ejge-8767	417	11	*	*	PROPN
ejge-8767	417	12	-0.0240	-0.0240	NOUN
ejge-8767	417	13	*	*	PUNCT
ejge-8767	417	14	*	*	PUNCT
ejge-8767	417	15	*	*	PUNCT
ejge-8767	417	16	-0.0277	-0.0277	PUNCT
ejge-8767	417	17	*	*	PUNCT
ejge-8767	417	18	*	*	PUNCT
ejge-8767	417	19	*	*	PUNCT
ejge-8767	417	20	-0.8025	-0.8025	PUNCT
ejge-8767	417	21	*	*	PUNCT
ejge-8767	417	22	*	*	PUNCT
ejge-8767	417	23	*	*	PROPN
ejge-8767	417	24	tenure	tenure	NOUN
ejge-8767	417	25	0.0022	0.0022	NUM
ejge-8767	417	26	0.0005	0.0005	NUM
ejge-8767	417	27	-0.0002	-0.0002	NOUN
ejge-8767	417	28	-0.0163	-0.0163	NOUN
ejge-8767	417	29	net	net	ADJ
ejge-8767	417	30	assets	asset	NOUN
ejge-8767	417	31	0.0026	0.0026	NUM
ejge-8767	417	32	0.0074	0.0074	NUM
ejge-8767	417	33	*	*	PUNCT
ejge-8767	417	34	*	*	PUNCT
ejge-8767	417	35	*	*	PUNCT
ejge-8767	417	36	0.0080	0.0080	NUM
ejge-8767	417	37	*	*	NUM
ejge-8767	417	38	0.2224	0.2224	NUM
ejge-8767	417	39	funds	fund	NOUN
ejge-8767	417	40	years	year	NOUN
ejge-8767	417	41	0.0018	0.0018	NUM
ejge-8767	417	42	-0.0003	-0.0003	NOUN
ejge-8767	417	43	-0.0007	-0.0007	NOUN
ejge-8767	417	44	-0.0245	-0.0245	PROPN
ejge-8767	417	45	1	1	NUM
ejge-8767	417	46	star	star	NOUN
ejge-8767	417	47	(	(	PUNCT
ejge-8767	417	48	t-1	t-1	PROPN
ejge-8767	417	49	)	)	PUNCT
ejge-8767	417	50	-0.0492	-0.0492	PUNCT
ejge-8767	417	51	-0.0765	-0.0765	PROPN
ejge-8767	418	1	*	*	PUNCT
ejge-8767	419	1	*	*	PUNCT
ejge-8767	419	2	*	*	PUNCT
ejge-8767	419	3	-0.0853	-0.0853	NOUN
ejge-8767	419	4	*	*	PUNCT
ejge-8767	420	1	*	*	PUNCT
ejge-8767	420	2	*	*	PUNCT
ejge-8767	420	3	0.5591	0.5591	NUM
ejge-8767	420	4	2	2	NUM
ejge-8767	420	5	stars	star	NOUN
ejge-8767	420	6	(	(	PUNCT
ejge-8767	420	7	t-1	t-1	PROPN
ejge-8767	420	8	)	)	PUNCT
ejge-8767	420	9	0.0297	0.0297	NUM
ejge-8767	420	10	-0.1427	-0.1427	NOUN
ejge-8767	420	11	*	*	PUNCT
ejge-8767	420	12	*	*	PUNCT
ejge-8767	420	13	*	*	NOUN
ejge-8767	420	14	-0.1612	-0.1612	NOUN
ejge-8767	420	15	*	*	PUNCT
ejge-8767	420	16	*	*	PUNCT
ejge-8767	420	17	*	*	PUNCT
ejge-8767	420	18	1.0409	1.0409	NUM
ejge-8767	420	19	3	3	NUM
ejge-8767	420	20	stars	star	NOUN
ejge-8767	420	21	(	(	PUNCT
ejge-8767	420	22	t-1	t-1	PROPN
ejge-8767	420	23	)	)	PUNCT
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ejge-8767	420	26	*	*	PUNCT
ejge-8767	420	27	*	*	PUNCT
ejge-8767	420	28	*	*	PUNCT
ejge-8767	420	29	-0.2617	-0.2617	X
ejge-8767	420	30	*	*	PUNCT
ejge-8767	420	31	*	*	PUNCT
ejge-8767	420	32	*	*	PUNCT
ejge-8767	420	33	0.3229	0.3229	NUM
ejge-8767	420	34	4	4	NUM
ejge-8767	420	35	stars	star	NOUN
ejge-8767	420	36	(	(	PUNCT
ejge-8767	420	37	t-1	t-1	PROPN
ejge-8767	420	38	)	)	PUNCT
ejge-8767	420	39	-0.1836	-0.1836	NOUN
ejge-8767	420	40	*	*	PUNCT
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ejge-8767	420	42	*	*	PUNCT
ejge-8767	420	43	*	*	PUNCT
ejge-8767	420	44	*	*	PUNCT
ejge-8767	420	45	-0.4442	-0.4442	PROPN
ejge-8767	420	46	*	*	PUNCT
ejge-8767	420	47	*	*	PUNCT
ejge-8767	420	48	*	*	NOUN
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ejge-8767	420	50	*	*	NOUN
ejge-8767	420	51	*	*	PUNCT
ejge-8767	420	52	flexcap	flexcap	NOUN
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ejge-8767	420	54	-0.0199	-0.0199	NOUN
ejge-8767	420	55	0.0331	0.0331	NUM
ejge-8767	420	56	-0.8882	-0.8882	NOUN
ejge-8767	420	57	largecap	largecap	NOUN
ejge-8767	420	58	0.4634	0.4634	PROPN
ejge-8767	420	59	-0.0402	-0.0402	NOUN
ejge-8767	420	60	-0.0323	-0.0323	NOUN
ejge-8767	420	61	-0.0239	-0.0239	NOUN
ejge-8767	420	62	midcap	midcap	NOUN
ejge-8767	420	63	0.3544	0.3544	NUM
ejge-8767	420	64	0.0468	0.0468	NUM
ejge-8767	420	65	0.1116	0.1116	NUM
ejge-8767	420	66	-1.3407	-1.3407	NOUN
ejge-8767	420	67	smallcap	smallcap	NOUN
ejge-8767	420	68	0.4629	0.4629	NUM
ejge-8767	420	69	0.0257	0.0257	NUM
ejge-8767	420	70	0.1189	0.1189	NUM
ejge-8767	420	71	3.3524	3.3524	NUM
ejge-8767	420	72	cons	con	NOUN
ejge-8767	420	73	-2.1484	-2.1484	VERB
ejge-8767	420	74	*	*	PUNCT
ejge-8767	420	75	*	*	PUNCT
ejge-8767	420	76	*	*	PROPN
ejge-8767	420	77	-0.2399	-0.2399	NOUN
ejge-8767	420	78	-0.2950	-0.2950	X
ejge-8767	420	79	11.2904	11.2904	NUM
ejge-8767	420	80	*	*	PUNCT
ejge-8767	420	81	*	*	PUNCT
ejge-8767	420	82	q50	q50	NOUN
ejge-8767	420	83	net	net	ADJ
ejge-8767	420	84	expenses	expense	NOUN
ejge-8767	420	85	-0.0072	-0.0072	VERB
ejge-8767	420	86	-0.0048	-0.0048	PROPN
ejge-8767	420	87	-0.0008	-0.0008	PROPN
ejge-8767	420	88	-0.1178	-0.1178	PROPN
ejge-8767	420	89	tenure	tenure	PROPN
ejge-8767	420	90	-0.0003	-0.0003	PROPN
ejge-8767	420	91	-0.0012	-0.0012	PROPN
ejge-8767	420	92	-0.0013	-0.0013	VERB
ejge-8767	421	1	0.0171	0.0171	NUM
ejge-8767	421	2	net	net	ADJ
ejge-8767	421	3	assets	asset	NOUN
ejge-8767	421	4	-0.0001	-0.0001	NOUN
ejge-8767	421	5	0.0032	0.0032	NUM
ejge-8767	421	6	0.0080	0.0080	NUM
ejge-8767	421	7	-0.0410	-0.0410	NOUN
ejge-8767	421	8	funds	fund	NOUN
ejge-8767	421	9	years	year	NOUN
ejge-8767	421	10	-0.0040	-0.0040	X
ejge-8767	421	11	-0.0004	-0.0004	PROPN
ejge-8767	421	12	-0.0006	-0.0006	NOUN
ejge-8767	421	13	-0.0402	-0.0402	PROPN
ejge-8767	421	14	1	1	NUM
ejge-8767	421	15	star	star	NOUN
ejge-8767	421	16	(	(	PUNCT
ejge-8767	421	17	t-1	t-1	PROPN
ejge-8767	421	18	)	)	PUNCT
ejge-8767	421	19	-0.0447	-0.0447	NOUN
ejge-8767	421	20	-0.1611	-0.1611	ADJ
ejge-8767	422	1	*	*	PUNCT
ejge-8767	423	1	*	*	PUNCT
ejge-8767	423	2	*	*	PUNCT
ejge-8767	423	3	-0.2567	-0.2567	ADJ
ejge-8767	423	4	*	*	PUNCT
ejge-8767	423	5	*	*	PUNCT
ejge-8767	423	6	*	*	PUNCT
ejge-8767	423	7	-0.4815	-0.4815	NOUN
ejge-8767	423	8	2	2	NUM
ejge-8767	423	9	stars	star	NOUN
ejge-8767	423	10	(	(	PUNCT
ejge-8767	423	11	t-1	t-1	PROPN
ejge-8767	423	12	)	)	PUNCT
ejge-8767	423	13	-0.0191	-0.0191	NOUN
ejge-8767	423	14	-0.2339	-0.2339	VERB
ejge-8767	424	1	*	*	PUNCT
ejge-8767	424	2	*	*	PUNCT
ejge-8767	424	3	*	*	PUNCT
ejge-8767	425	1	-0.3299	-0.3299	NOUN
ejge-8767	425	2	*	*	PUNCT
ejge-8767	425	3	*	*	PUNCT
ejge-8767	425	4	*	*	PUNCT
ejge-8767	425	5	-0.7586	-0.7586	ADJ
ejge-8767	425	6	3	3	NUM
ejge-8767	425	7	stars	star	NOUN
ejge-8767	425	8	(	(	PUNCT
ejge-8767	425	9	t-1	t-1	PROPN
ejge-8767	425	10	)	)	PUNCT
ejge-8767	425	11	-0.0354	-0.0354	NOUN
ejge-8767	425	12	-0.3018	-0.3018	NOUN
ejge-8767	426	1	*	*	PUNCT
ejge-8767	426	2	*	*	PUNCT
ejge-8767	426	3	*	*	PUNCT
ejge-8767	426	4	-0.4159	-0.4159	PROPN
ejge-8767	427	1	*	*	PUNCT
ejge-8767	427	2	*	*	PUNCT
ejge-8767	427	3	*	*	PUNCT
ejge-8767	427	4	-1.2543	-1.2543	PROPN
ejge-8767	427	5	*	*	PUNCT
ejge-8767	427	6	*	*	SYM
ejge-8767	427	7	4	4	NUM
ejge-8767	427	8	stars	star	NOUN
ejge-8767	427	9	(	(	PUNCT
ejge-8767	427	10	t-1	t-1	PROPN
ejge-8767	427	11	)	)	PUNCT
ejge-8767	427	12	-0.2094	-0.2094	PROPN
ejge-8767	428	1	*	*	PUNCT
ejge-8767	428	2	*	*	PUNCT
ejge-8767	429	1	-0.4241	-0.4241	PUNCT
ejge-8767	430	1	*	*	PUNCT
ejge-8767	431	1	*	*	PUNCT
ejge-8767	431	2	*	*	PUNCT
ejge-8767	431	3	-0.5603	-0.5603	NOUN
ejge-8767	431	4	*	*	PUNCT
ejge-8767	431	5	*	*	PUNCT
ejge-8767	431	6	*	*	PUNCT
ejge-8767	431	7	-2.9690	-2.9690	NOUN
ejge-8767	431	8	*	*	PUNCT
ejge-8767	431	9	*	*	PUNCT
ejge-8767	431	10	flexcap	flexcap	NOUN
ejge-8767	431	11	0.2435	0.2435	NUM
ejge-8767	431	12	0.0353	0.0353	NUM
ejge-8767	431	13	0.0494	0.0494	NUM
ejge-8767	431	14	1.3275	1.3275	NUM
ejge-8767	431	15	largecap	largecap	NOUN
ejge-8767	431	16	0.2022	0.2022	NUM
ejge-8767	431	17	0.0009	0.0009	NUM
ejge-8767	431	18	0.0120	0.0120	NUM
ejge-8767	431	19	0.2749	0.2749	NUM
ejge-8767	431	20	midcap	midcap	NOUN
ejge-8767	431	21	0.4264	0.4264	NUM
ejge-8767	431	22	*	*	SYM
ejge-8767	431	23	*	*	NOUN
ejge-8767	431	24	0.1545	0.1545	NUM
ejge-8767	431	25	*	*	PUNCT
ejge-8767	431	26	*	*	PUNCT
ejge-8767	431	27	*	*	X
ejge-8767	431	28	0.1784	0.1784	NUM
ejge-8767	431	29	5.0437	5.0437	NUM
ejge-8767	431	30	*	*	PUNCT
ejge-8767	431	31	*	*	PUNCT
ejge-8767	431	32	*	*	PUNCT
ejge-8767	431	33	smallcap	smallcap	NOUN
ejge-8767	431	34	0.6319	0.6319	NUM
ejge-8767	431	35	*	*	PUNCT
ejge-8767	431	36	*	*	PUNCT
ejge-8767	431	37	*	*	PUNCT
ejge-8767	432	1	0.1524	0.1524	NUM
ejge-8767	432	2	*	*	PUNCT
ejge-8767	432	3	*	*	PUNCT
ejge-8767	432	4	*	*	PUNCT
ejge-8767	432	5	0.2179	0.2179	NUM
ejge-8767	432	6	*	*	PUNCT
ejge-8767	432	7	*	*	PUNCT
ejge-8767	433	1	5.7617	5.7617	NUM
ejge-8767	433	2	*	*	PUNCT
ejge-8767	433	3	*	*	PUNCT
ejge-8767	434	1	_	_	PUNCT
ejge-8767	434	2	cons	con	NOUN
ejge-8767	434	3	-1.3687	-1.3687	VERB
ejge-8767	434	4	*	*	PUNCT
ejge-8767	434	5	*	*	PUNCT
ejge-8767	434	6	*	*	PUNCT
ejge-8767	434	7	-0.1087	-0.1087	NOUN
ejge-8767	434	8	-0.2121	-0.2121	ADJ
ejge-8767	434	9	15.9763	15.9763	NUM
ejge-8767	434	10	*	*	PUNCT
ejge-8767	434	11	*	*	PUNCT
ejge-8767	434	12	*	*	PUNCT
ejge-8767	434	13	q75	q75	ADJ
ejge-8767	434	14	net	net	ADJ
ejge-8767	434	15	expenses	expense	NOUN
ejge-8767	434	16	0.0142	0.0142	NUM
ejge-8767	434	17	0.0127	0.0127	NUM
ejge-8767	434	18	0.0125	0.0125	NUM
ejge-8767	434	19	1.0721	1.0721	NUM
ejge-8767	434	20	*	*	PUNCT
ejge-8767	434	21	*	*	PUNCT
ejge-8767	434	22	*	*	PROPN
ejge-8767	434	23	tenure	tenure	NOUN
ejge-8767	434	24	-0.0019	-0.0019	NOUN
ejge-8767	435	1	0.0020	0.0020	NUM
ejge-8767	435	2	*	*	PUNCT
ejge-8767	435	3	*	*	PROPN
ejge-8767	435	4	0.0011	0.0011	NUM
ejge-8767	435	5	-0.0205	-0.0205	NOUN
ejge-8767	435	6	net	net	ADJ
ejge-8767	435	7	assets	asset	NOUN
ejge-8767	435	8	-0.0219	-0.0219	NOUN
ejge-8767	435	9	*	*	PUNCT
ejge-8767	435	10	-0.0001	-0.0001	NOUN
ejge-8767	435	11	-0.0014	-0.0014	PROPN
ejge-8767	435	12	0.0020	0.0020	NUM
ejge-8767	435	13	funds	fund	NOUN
ejge-8767	435	14	years	year	NOUN
ejge-8767	435	15	-0.0035	-0.0035	VERB
ejge-8767	435	16	0.0007	0.0007	NUM
ejge-8767	435	17	0.0012	0.0012	NUM
ejge-8767	435	18	-0.0724	-0.0724	NOUN
ejge-8767	435	19	*	*	PUNCT
ejge-8767	435	20	1	1	NUM
ejge-8767	435	21	star	star	NOUN
ejge-8767	435	22	(	(	PUNCT
ejge-8767	435	23	t-1	t-1	PROPN
ejge-8767	435	24	)	)	PUNCT
ejge-8767	435	25	-0.1619	-0.1619	NOUN
ejge-8767	435	26	*	*	PUNCT
ejge-8767	435	27	-0.2028	-0.2028	NOUN
ejge-8767	435	28	*	*	PUNCT
ejge-8767	435	29	*	*	PUNCT
ejge-8767	435	30	*	*	PUNCT
ejge-8767	435	31	-0.3736	-0.3736	NOUN
ejge-8767	435	32	*	*	PUNCT
ejge-8767	435	33	*	*	PUNCT
ejge-8767	435	34	*	*	PUNCT
ejge-8767	435	35	-1.4230	-1.4230	ADJ
ejge-8767	435	36	2	2	NUM
ejge-8767	435	37	stars	star	NOUN
ejge-8767	435	38	(	(	PUNCT
ejge-8767	435	39	t-1	t-1	PROPN
ejge-8767	435	40	)	)	PUNCT
ejge-8767	435	41	-0.2081	-0.2081	NOUN
ejge-8767	435	42	*	*	PUNCT
ejge-8767	435	43	*	*	PUNCT
ejge-8767	435	44	*	*	NOUN
ejge-8767	435	45	-0.2678	-0.2678	X
ejge-8767	435	46	*	*	PUNCT
ejge-8767	435	47	*	*	PUNCT
ejge-8767	435	48	*	*	PUNCT
ejge-8767	435	49	-0.4655	-0.4655	ADJ
ejge-8767	436	1	*	*	PUNCT
ejge-8767	437	1	*	*	PUNCT
ejge-8767	437	2	*	*	PUNCT
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ejge-8767	437	4	3	3	NUM
ejge-8767	437	5	stars	star	NOUN
ejge-8767	437	6	(	(	PUNCT
ejge-8767	437	7	t-1	t-1	PROPN
ejge-8767	437	8	)	)	PUNCT
ejge-8767	437	9	-0.1937	-0.1937	NOUN
ejge-8767	437	10	*	*	PUNCT
ejge-8767	437	11	*	*	PUNCT
ejge-8767	437	12	-0.3293	-0.3293	NOUN
ejge-8767	437	13	*	*	PUNCT
ejge-8767	437	14	*	*	PUNCT
ejge-8767	437	15	*	*	PUNCT
ejge-8767	437	16	-0.5324	-0.5324	NOUN
ejge-8767	437	17	*	*	PUNCT
ejge-8767	437	18	*	*	PUNCT
ejge-8767	437	19	*	*	PUNCT
ejge-8767	437	20	-1.8922	-1.8922	PROPN
ejge-8767	437	21	*	*	SYM
ejge-8767	437	22	4	4	NUM
ejge-8767	437	23	stars	star	NOUN
ejge-8767	437	24	(	(	PUNCT
ejge-8767	437	25	t-1	t-1	PROPN
ejge-8767	437	26	)	)	PUNCT
ejge-8767	437	27	-0.4484	-0.4484	NOUN
ejge-8767	437	28	*	*	PUNCT
ejge-8767	437	29	*	*	PUNCT
ejge-8767	437	30	*	*	NOUN
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ejge-8767	437	32	*	*	PUNCT
ejge-8767	437	33	*	*	PUNCT
ejge-8767	437	34	*	*	NOUN
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ejge-8767	437	36	*	*	PUNCT
ejge-8767	437	37	*	*	PUNCT
ejge-8767	437	38	*	*	NOUN
ejge-8767	437	39	-4.0835	-4.0835	NOUN
ejge-8767	437	40	*	*	PUNCT
ejge-8767	437	41	*	*	PUNCT
ejge-8767	437	42	flexcap	flexcap	NOUN
ejge-8767	437	43	0.2156	0.2156	NUM
ejge-8767	437	44	0.1274	0.1274	NUM
ejge-8767	437	45	*	*	PUNCT
ejge-8767	437	46	*	*	PUNCT
ejge-8767	438	1	0.1495	0.1495	NUM
ejge-8767	438	2	5.0003	5.0003	NUM
ejge-8767	438	3	*	*	PUNCT
ejge-8767	438	4	largecap	largecap	NOUN
ejge-8767	438	5	0.0231	0.0231	NUM
ejge-8767	438	6	0.0441	0.0441	NUM
ejge-8767	438	7	0.0323	0.0323	NUM
ejge-8767	438	8	0.6572	0.6572	NUM
ejge-8767	438	9	midcap	midcap	NOUN
ejge-8767	438	10	0.2512	0.2512	NUM
ejge-8767	438	11	0.2447	0.2447	NUM
ejge-8767	438	12	*	*	PUNCT
ejge-8767	438	13	*	*	PUNCT
ejge-8767	438	14	*	*	PUNCT
ejge-8767	438	15	0.3048	0.3048	NUM
ejge-8767	438	16	*	*	NOUN
ejge-8767	438	17	*	*	NOUN
ejge-8767	438	18	10.0087	10.0087	NUM
ejge-8767	438	19	*	*	PUNCT
ejge-8767	438	20	*	*	PUNCT
ejge-8767	438	21	*	*	PUNCT
ejge-8767	438	22	smallcap	smallcap	NOUN
ejge-8767	438	23	0.7108	0.7108	NUM
ejge-8767	438	24	*	*	PUNCT
ejge-8767	438	25	*	*	PUNCT
ejge-8767	438	26	*	*	PUNCT
ejge-8767	438	27	0.2875	0.2875	NUM
ejge-8767	438	28	*	*	PUNCT
ejge-8767	438	29	*	*	PUNCT
ejge-8767	438	30	*	*	PUNCT
ejge-8767	438	31	0.3794	0.3794	NUM
ejge-8767	438	32	*	*	PUNCT
ejge-8767	438	33	*	*	NOUN
ejge-8767	438	34	10.4067	10.4067	NUM
ejge-8767	438	35	*	*	PUNCT
ejge-8767	438	36	*	*	PUNCT
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ejge-8767	439	2	_	_	PUNCT
ejge-8767	439	3	cons	con	NOUN
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ejge-8767	440	1	0.0570	0.0570	NUM
ejge-8767	440	2	0.2241	0.2241	NUM
ejge-8767	440	3	14.9986	14.9986	NUM
ejge-8767	440	4	*	*	SYM
ejge-8767	440	5	*	*	PROPN
ejge-8767	440	6	n	n	NUM
ejge-8767	440	7	978	978	NUM
ejge-8767	440	8	990	990	NUM
ejge-8767	440	9	990	990	NUM
ejge-8767	440	10	990	990	NUM
ejge-8767	440	11	renato	renato	PROPN
ejge-8767	440	12	correia	correia	PROPN
ejge-8767	440	13	-	-	PUNCT
ejge-8767	440	14	domingues	domingue	NOUN
ejge-8767	440	15	et	et	PROPN
ejge-8767	440	16	al	al	PROPN
ejge-8767	440	17	.	.	PUNCT
ejge-8767	440	18	/	/	SYM
ejge-8767	440	19	european	european	PROPN
ejge-8767	440	20	journal	journal	PROPN
ejge-8767	440	21	of	of	ADP
ejge-8767	440	22	government	government	NOUN
ejge-8767	440	23	and	and	CCONJ
ejge-8767	440	24	economics	economic	NOUN
ejge-8767	440	25	11(1	11(1	NUM
ejge-8767	440	26	)	)	PUNCT
ejge-8767	440	27	,	,	PUNCT
ejge-8767	440	28	june	june	PROPN
ejge-8767	440	29	2022	2022	NUM
ejge-8767	440	30	,	,	PUNCT
ejge-8767	440	31	31	31	NUM
ejge-8767	440	32	-	-	SYM
ejge-8767	440	33	50	50	NUM
ejge-8767	440	34	50	50	NUM
ejge-8767	440	35	annex	annex	NOUN
ejge-8767	440	36	5	5	NUM
ejge-8767	440	37	.	.	PUNCT
ejge-8767	440	38	quantile	quantile	ADJ
ejge-8767	440	39	regression	regression	NOUN
ejge-8767	440	40	of	of	ADP
ejge-8767	440	41	the	the	DET
ejge-8767	440	42	relationship	relationship	NOUN
ejge-8767	440	43	between	between	ADP
ejge-8767	440	44	performance	performance	NOUN
ejge-8767	440	45	and	and	CCONJ
ejge-8767	440	46	expenses	expense	NOUN
ejge-8767	440	47	.	.	PUNCT
ejge-8767	441	1	variable	variable	ADJ
ejge-8767	441	2	alfa	alfa	PROPN
ejge-8767	441	3	sharpe	sharpe	PROPN
ejge-8767	441	4	sortino	sortino	PROPN
ejge-8767	441	5	annual	annual	PROPN
ejge-8767	441	6	return	return	PROPN
ejge-8767	441	7	q10	q10	PROPN
ejge-8767	441	8	net	net	ADJ
ejge-8767	441	9	expenses	expense	NOUN
ejge-8767	441	10	-0.1388	-0.1388	VERB
ejge-8767	441	11	*	*	NOUN
ejge-8767	441	12	*	*	PUNCT
ejge-8767	441	13	-0.0361	-0.0361	NOUN
ejge-8767	441	14	*	*	PUNCT
ejge-8767	441	15	*	*	PUNCT
ejge-8767	441	16	*	*	PUNCT
ejge-8767	441	17	-0.0428	-0.0428	X
ejge-8767	441	18	*	*	PUNCT
ejge-8767	441	19	*	*	PUNCT
ejge-8767	441	20	*	*	PUNCT
ejge-8767	441	21	-0.9359	-0.9359	PROPN
ejge-8767	441	22	*	*	PUNCT
ejge-8767	441	23	tenure	tenure	NOUN
ejge-8767	441	24	0.0035	0.0035	NUM
ejge-8767	441	25	-0.0001	-0.0001	NOUN
ejge-8767	441	26	-0.0001	-0.0001	NOUN
ejge-8767	441	27	-0.0464	-0.0464	NOUN
ejge-8767	442	1	net	net	ADJ
ejge-8767	442	2	assets	asset	NOUN
ejge-8767	442	3	0.0370	0.0370	NUM
ejge-8767	442	4	*	*	SYM
ejge-8767	442	5	0.0159	0.0159	NUM
ejge-8767	442	6	*	*	PUNCT
ejge-8767	442	7	*	*	PUNCT
ejge-8767	442	8	*	*	X
ejge-8767	442	9	0.0125	0.0125	NUM
ejge-8767	442	10	0.4255	0.4255	NUM
ejge-8767	442	11	*	*	NOUN
ejge-8767	442	12	*	*	NOUN
ejge-8767	442	13	funds	fund	NOUN
ejge-8767	442	14	years	year	NOUN
ejge-8767	442	15	0.0050	0.0050	NUM
ejge-8767	442	16	-0.0011	-0.0011	NOUN
ejge-8767	442	17	0.0001	0.0001	NUM
ejge-8767	442	18	-0.0052	-0.0052	NOUN
ejge-8767	442	19	1	1	NUM
ejge-8767	442	20	star	star	NOUN
ejge-8767	442	21	(	(	PUNCT
ejge-8767	442	22	t-1	t-1	PROPN
ejge-8767	442	23	)	)	PUNCT
ejge-8767	442	24	-0.0370	-0.0370	NOUN
ejge-8767	442	25	-0.0923	-0.0923	NOUN
ejge-8767	442	26	*	*	PUNCT
ejge-8767	442	27	*	*	PUNCT
ejge-8767	442	28	*	*	NOUN
ejge-8767	442	29	-0.1069	-0.1069	NOUN
ejge-8767	442	30	*	*	PUNCT
ejge-8767	442	31	*	*	PUNCT
ejge-8767	442	32	*	*	PUNCT
ejge-8767	442	33	0.8661	0.8661	NUM
ejge-8767	442	34	2	2	NUM
ejge-8767	442	35	stars	star	NOUN
ejge-8767	442	36	(	(	PUNCT
ejge-8767	442	37	t-1	t-1	PROPN
ejge-8767	442	38	)	)	PUNCT
ejge-8767	442	39	0.1080	0.1080	NUM
ejge-8767	442	40	-0.1242	-0.1242	NOUN
ejge-8767	442	41	*	*	PUNCT
ejge-8767	442	42	*	*	PUNCT
ejge-8767	442	43	*	*	PUNCT
ejge-8767	442	44	-0.1449	-0.1449	PROPN
ejge-8767	442	45	*	*	PUNCT
ejge-8767	442	46	*	*	PUNCT
ejge-8767	442	47	*	*	PUNCT
ejge-8767	442	48	2.2749	2.2749	NUM
ejge-8767	442	49	*	*	PUNCT
ejge-8767	442	50	*	*	PUNCT
ejge-8767	442	51	*	*	PUNCT
ejge-8767	442	52	3	3	NUM
ejge-8767	442	53	stars	star	NOUN
ejge-8767	442	54	(	(	PUNCT
ejge-8767	442	55	t-1	t-1	PROPN
ejge-8767	442	56	)	)	PUNCT
ejge-8767	442	57	0.1269	0.1269	NUM
ejge-8767	442	58	-0.2003	-0.2003	NOUN
ejge-8767	442	59	*	*	PUNCT
ejge-8767	442	60	*	*	PUNCT
ejge-8767	442	61	*	*	PUNCT
ejge-8767	442	62	-0.2275	-0.2275	PUNCT
ejge-8767	442	63	*	*	PUNCT
ejge-8767	442	64	*	*	PUNCT
ejge-8767	442	65	*	*	PUNCT
ejge-8767	442	66	0.9547	0.9547	NUM
ejge-8767	442	67	4	4	NUM
ejge-8767	442	68	stars	star	NOUN
ejge-8767	442	69	(	(	PUNCT
ejge-8767	442	70	t-1	t-1	PROPN
ejge-8767	442	71	)	)	PUNCT
ejge-8767	442	72	-0.1922	-0.1922	NOUN
ejge-8767	442	73	-0.3749	-0.3749	NOUN
ejge-8767	443	1	*	*	PUNCT
ejge-8767	444	1	*	*	PUNCT
ejge-8767	444	2	*	*	PUNCT
ejge-8767	444	3	-0.5223	-0.5223	ADJ
ejge-8767	444	4	*	*	PUNCT
ejge-8767	444	5	*	*	PUNCT
ejge-8767	444	6	*	*	PUNCT
ejge-8767	444	7	-2.1320	-2.1320	NOUN
ejge-8767	444	8	flexcap	flexcap	NOUN
ejge-8767	444	9	0.5610	0.5610	NUM
ejge-8767	444	10	0.0474	0.0474	NUM
ejge-8767	444	11	0.1328	0.1328	NUM
ejge-8767	444	12	-0.4422	-0.4422	NOUN
ejge-8767	444	13	largecap	largecap	NOUN
ejge-8767	444	14	0.6909	0.6909	NUM
ejge-8767	444	15	*	*	PUNCT
ejge-8767	444	16	0.0471	0.0471	NUM
ejge-8767	444	17	0.0865	0.0865	NUM
ejge-8767	444	18	2.1836	2.1836	NUM
ejge-8767	444	19	midcap	midcap	NOUN
ejge-8767	444	20	0.5366	0.5366	NUM
ejge-8767	444	21	0.0947	0.0947	NUM
ejge-8767	444	22	0.1885	0.1885	NUM
ejge-8767	444	23	2.3780	2.3780	NUM
ejge-8767	444	24	smallcap	smallcap	NOUN
ejge-8767	444	25	0.3318	0.3318	NUM
ejge-8767	444	26	0.0481	0.0481	NUM
ejge-8767	444	27	0.0757	0.0757	NUM
ejge-8767	444	28	-2.2973	-2.2973	NOUN
ejge-8767	445	1	_	_	PUNCT
ejge-8767	445	2	cons	con	NOUN
ejge-8767	445	3	-3.3475	-3.3475	VERB
ejge-8767	445	4	*	*	PUNCT
ejge-8767	445	5	*	*	PUNCT
ejge-8767	445	6	*	*	PUNCT
ejge-8767	445	7	-0.5832	-0.5832	PROPN
ejge-8767	445	8	*	*	PROPN
ejge-8767	445	9	*	*	PUNCT
ejge-8767	445	10	-0.6522	-0.6522	PROPN
ejge-8767	446	1	1.4839	1.4839	NUM
ejge-8767	446	2	q50	q50	NOUN
ejge-8767	446	3	net	net	ADJ
ejge-8767	446	4	expenses	expense	NOUN
ejge-8767	446	5	-0.0072	-0.0072	VERB
ejge-8767	446	6	-0.0048	-0.0048	PROPN
ejge-8767	446	7	-0.0008	-0.0008	PROPN
ejge-8767	446	8	-0.1178	-0.1178	PROPN
ejge-8767	446	9	tenure	tenure	PROPN
ejge-8767	446	10	-0.0003	-0.0003	PROPN
ejge-8767	446	11	-0.0012	-0.0012	PROPN
ejge-8767	446	12	-0.0013	-0.0013	VERB
ejge-8767	446	13	0.0171	0.0171	NUM
ejge-8767	446	14	net	net	ADJ
ejge-8767	446	15	assets	asset	NOUN
ejge-8767	446	16	-0.0001	-0.0001	NOUN
ejge-8767	446	17	0.0032	0.0032	NUM
ejge-8767	446	18	0.0080	0.0080	NUM
ejge-8767	446	19	-0.0410	-0.0410	NOUN
ejge-8767	446	20	funds	fund	NOUN
ejge-8767	446	21	years	year	NOUN
ejge-8767	446	22	-0.0040	-0.0040	PROPN
ejge-8767	446	23	*	*	X
ejge-8767	446	24	-0.0004	-0.0004	PROPN
ejge-8767	446	25	-0.0006	-0.0006	NOUN
ejge-8767	446	26	-0.0402	-0.0402	PROPN
ejge-8767	446	27	1	1	NUM
ejge-8767	446	28	star	star	NOUN
ejge-8767	446	29	(	(	PUNCT
ejge-8767	446	30	t-1	t-1	PROPN
ejge-8767	446	31	)	)	PUNCT
ejge-8767	446	32	-0.0447	-0.0447	NOUN
ejge-8767	446	33	-0.1611	-0.1611	ADJ
ejge-8767	447	1	*	*	PUNCT
ejge-8767	448	1	*	*	PUNCT
ejge-8767	448	2	*	*	PUNCT
ejge-8767	448	3	-0.2567	-0.2567	ADJ
ejge-8767	448	4	*	*	PUNCT
ejge-8767	448	5	*	*	PUNCT
ejge-8767	448	6	*	*	PUNCT
ejge-8767	448	7	-0.4815	-0.4815	NOUN
ejge-8767	448	8	2	2	NUM
ejge-8767	448	9	stars	star	NOUN
ejge-8767	448	10	(	(	PUNCT
ejge-8767	448	11	t-1	t-1	PROPN
ejge-8767	448	12	)	)	PUNCT
ejge-8767	448	13	-0.0191	-0.0191	NOUN
ejge-8767	448	14	-0.2339	-0.2339	VERB
ejge-8767	449	1	*	*	PUNCT
ejge-8767	449	2	*	*	PUNCT
ejge-8767	449	3	*	*	PUNCT
ejge-8767	450	1	-0.3299	-0.3299	NOUN
ejge-8767	450	2	*	*	PUNCT
ejge-8767	450	3	*	*	PUNCT
ejge-8767	450	4	*	*	PUNCT
ejge-8767	450	5	-0.7586	-0.7586	ADJ
ejge-8767	450	6	3	3	NUM
ejge-8767	450	7	stars	star	NOUN
ejge-8767	450	8	(	(	PUNCT
ejge-8767	450	9	t-1	t-1	PROPN
ejge-8767	450	10	)	)	PUNCT
ejge-8767	450	11	-0.0354	-0.0354	NOUN
ejge-8767	450	12	-0.3018	-0.3018	NOUN
ejge-8767	451	1	*	*	PUNCT
ejge-8767	451	2	*	*	PUNCT
ejge-8767	451	3	*	*	PUNCT
ejge-8767	451	4	-0.4159	-0.4159	PROPN
ejge-8767	451	5	*	*	PUNCT
ejge-8767	451	6	*	*	PUNCT
ejge-8767	451	7	*	*	PUNCT
ejge-8767	451	8	-1.2543	-1.2543	ADJ
ejge-8767	451	9	4	4	NUM
ejge-8767	451	10	stars	star	NOUN
ejge-8767	451	11	(	(	PUNCT
ejge-8767	451	12	t-1	t-1	PROPN
ejge-8767	451	13	)	)	PUNCT
ejge-8767	451	14	-0.2094	-0.2094	PROPN
ejge-8767	452	1	*	*	PUNCT
ejge-8767	452	2	*	*	PUNCT
ejge-8767	453	1	-0.4241	-0.4241	PUNCT
ejge-8767	454	1	*	*	PUNCT
ejge-8767	455	1	*	*	PUNCT
ejge-8767	455	2	*	*	PUNCT
ejge-8767	455	3	-0.5603	-0.5603	NOUN
ejge-8767	455	4	*	*	PUNCT
ejge-8767	455	5	*	*	PUNCT
ejge-8767	455	6	*	*	AUX
ejge-8767	455	7	-2.9690	-2.9690	NOUN
ejge-8767	455	8	*	*	PUNCT
ejge-8767	455	9	flexcap	flexcap	NOUN
ejge-8767	455	10	0.2435	0.2435	NUM
ejge-8767	455	11	0.0353	0.0353	NUM
ejge-8767	455	12	0.0494	0.0494	NUM
ejge-8767	455	13	1.3275	1.3275	NUM
ejge-8767	455	14	largecap	largecap	NOUN
ejge-8767	455	15	0.2022	0.2022	NUM
ejge-8767	455	16	0.0009	0.0009	NUM
ejge-8767	455	17	0.0120	0.0120	NUM
ejge-8767	455	18	0.2749	0.2749	NUM
ejge-8767	455	19	midcap	midcap	NOUN
ejge-8767	455	20	0.4264	0.4264	NUM
ejge-8767	455	21	*	*	SYM
ejge-8767	455	22	0.1545	0.1545	NUM
ejge-8767	455	23	*	*	PUNCT
ejge-8767	455	24	*	*	PUNCT
ejge-8767	455	25	0.1784	0.1784	NUM
ejge-8767	455	26	*	*	PUNCT
ejge-8767	455	27	*	*	PUNCT
ejge-8767	455	28	*	*	PUNCT
ejge-8767	456	1	5.0437	5.0437	NUM
ejge-8767	456	2	*	*	PUNCT
ejge-8767	456	3	*	*	PUNCT
ejge-8767	456	4	smallcap	smallcap	NOUN
ejge-8767	456	5	0.6319	0.6319	NUM
ejge-8767	456	6	*	*	PUNCT
ejge-8767	456	7	*	*	PUNCT
ejge-8767	456	8	*	*	PUNCT
ejge-8767	456	9	0.1524	0.1524	NUM
ejge-8767	456	10	*	*	PUNCT
ejge-8767	456	11	*	*	NOUN
ejge-8767	456	12	0.2179	0.2179	NUM
ejge-8767	456	13	*	*	PUNCT
ejge-8767	456	14	*	*	PUNCT
ejge-8767	456	15	5.7617	5.7617	NUM
ejge-8767	456	16	*	*	PUNCT
ejge-8767	456	17	*	*	PUNCT
ejge-8767	457	1	_	_	PUNCT
ejge-8767	457	2	cons	con	NOUN
ejge-8767	457	3	-1.3687	-1.3687	VERB
ejge-8767	457	4	*	*	PUNCT
ejge-8767	457	5	*	*	PUNCT
ejge-8767	457	6	*	*	PUNCT
ejge-8767	457	7	-0.1087	-0.1087	NOUN
ejge-8767	457	8	-0.2121	-0.2121	ADJ
ejge-8767	457	9	15.9763	15.9763	NUM
ejge-8767	457	10	*	*	PUNCT
ejge-8767	458	1	*	*	PUNCT
ejge-8767	458	2	*	*	PUNCT
ejge-8767	458	3	q90	q90	ADJ
ejge-8767	458	4	net	net	NOUN
ejge-8767	458	5	expenses	expense	NOUN
ejge-8767	458	6	0.0578	0.0578	NUM
ejge-8767	458	7	*	*	PUNCT
ejge-8767	458	8	*	*	PUNCT
ejge-8767	458	9	0.0186	0.0186	NUM
ejge-8767	458	10	*	*	SYM
ejge-8767	458	11	0.0220	0.0220	NUM
ejge-8767	458	12	*	*	X
ejge-8767	458	13	1.0605	1.0605	NUM
ejge-8767	458	14	*	*	PUNCT
ejge-8767	458	15	*	*	PUNCT
ejge-8767	458	16	*	*	PROPN
ejge-8767	458	17	tenure	tenure	NOUN
ejge-8767	458	18	0.0047	0.0047	NUM
ejge-8767	458	19	-0.0020	-0.0020	NOUN
ejge-8767	458	20	-0.0024	-0.0024	NOUN
ejge-8767	458	21	-0.1076	-0.1076	VERB
ejge-8767	458	22	net	net	ADJ
ejge-8767	458	23	assets	asset	NOUN
ejge-8767	458	24	-0.0254	-0.0254	VERB
ejge-8767	458	25	0.0062	0.0062	NUM
ejge-8767	458	26	0.0073	0.0073	NUM
ejge-8767	458	27	-0.0549	-0.0549	NOUN
ejge-8767	458	28	funds	fund	NOUN
ejge-8767	458	29	years	year	NOUN
ejge-8767	458	30	-0.0028	-0.0028	NOUN
ejge-8767	458	31	0.0009	0.0009	NUM
ejge-8767	458	32	0.0002	0.0002	NUM
ejge-8767	458	33	0.0277	0.0277	NUM
ejge-8767	458	34	1	1	NUM
ejge-8767	458	35	star	star	NOUN
ejge-8767	458	36	(	(	PUNCT
ejge-8767	458	37	t-1	t-1	PROPN
ejge-8767	458	38	)	)	PUNCT
ejge-8767	458	39	-0.1689	-0.1689	NOUN
ejge-8767	458	40	-0.3160	-0.3160	PROPN
ejge-8767	458	41	*	*	PUNCT
ejge-8767	458	42	*	*	PUNCT
ejge-8767	458	43	*	*	NOUN
ejge-8767	458	44	-0.6012	-0.6012	NOUN
ejge-8767	458	45	*	*	PUNCT
ejge-8767	458	46	*	*	PUNCT
ejge-8767	458	47	*	*	NOUN
ejge-8767	458	48	-0.7371	-0.7371	NOUN
ejge-8767	458	49	2	2	NUM
ejge-8767	458	50	stars	star	NOUN
ejge-8767	458	51	(	(	PUNCT
ejge-8767	458	52	t-1	t-1	PROPN
ejge-8767	458	53	)	)	PUNCT
ejge-8767	458	54	-0.2990	-0.2990	NOUN
ejge-8767	459	1	*	*	PUNCT
ejge-8767	459	2	*	*	PUNCT
ejge-8767	459	3	-0.4050	-0.4050	X
ejge-8767	459	4	*	*	PUNCT
ejge-8767	459	5	*	*	PUNCT
ejge-8767	459	6	*	*	PUNCT
ejge-8767	459	7	-0.7306	-0.7306	NOUN
ejge-8767	460	1	*	*	PUNCT
ejge-8767	460	2	*	*	PUNCT
ejge-8767	460	3	*	*	PUNCT
ejge-8767	460	4	-0.8581	-0.8581	NOUN
ejge-8767	460	5	3	3	NUM
ejge-8767	460	6	stars	star	NOUN
ejge-8767	460	7	(	(	PUNCT
ejge-8767	460	8	t-1	t-1	PROPN
ejge-8767	460	9	)	)	PUNCT
ejge-8767	460	10	-0.2882	-0.2882	NOUN
ejge-8767	460	11	*	*	PUNCT
ejge-8767	460	12	*	*	PUNCT
ejge-8767	460	13	-0.4606	-0.4606	ADJ
ejge-8767	461	1	*	*	PUNCT
ejge-8767	461	2	*	*	PUNCT
ejge-8767	461	3	*	*	NOUN
ejge-8767	461	4	-0.7774	-0.7774	NOUN
ejge-8767	461	5	*	*	ADJ
ejge-8767	461	6	*	*	PUNCT
ejge-8767	461	7	*	*	PUNCT
ejge-8767	461	8	-0.5163	-0.5163	ADJ
ejge-8767	461	9	4	4	NUM
ejge-8767	461	10	stars	star	NOUN
ejge-8767	461	11	(	(	PUNCT
ejge-8767	461	12	t-1	t-1	PROPN
ejge-8767	461	13	)	)	PUNCT
ejge-8767	461	14	-0.3749	-0.3749	NOUN
ejge-8767	461	15	*	*	PUNCT
ejge-8767	462	1	-0.5503	-0.5503	NOUN
ejge-8767	462	2	*	*	PUNCT
ejge-8767	462	3	*	*	PUNCT
ejge-8767	462	4	*	*	NOUN
ejge-8767	462	5	-0.8814	-0.8814	NOUN
ejge-8767	462	6	*	*	PUNCT
ejge-8767	462	7	*	*	PUNCT
ejge-8767	462	8	*	*	PUNCT
ejge-8767	462	9	-1.7424	-1.7424	PUNCT
ejge-8767	462	10	flexcap	flexcap	NOUN
ejge-8767	462	11	0.2929	0.2929	NUM
ejge-8767	462	12	*	*	NOUN
ejge-8767	462	13	0.1091	0.1091	NUM
ejge-8767	462	14	0.1917	0.1917	NUM
ejge-8767	462	15	5.3523	5.3523	NUM
ejge-8767	462	16	*	*	PUNCT
ejge-8767	462	17	*	*	PUNCT
ejge-8767	462	18	largecap	largecap	NOUN
ejge-8767	462	19	0.0699	0.0699	NUM
ejge-8767	462	20	-0.0032	-0.0032	NOUN
ejge-8767	462	21	0.0378	0.0378	NUM
ejge-8767	462	22	-0.2782	-0.2782	NOUN
ejge-8767	462	23	midcap	midcap	NOUN
ejge-8767	462	24	0.6350	0.6350	PRON
ejge-8767	462	25	*	*	PUNCT
ejge-8767	462	26	*	*	PUNCT
ejge-8767	462	27	*	*	PUNCT
ejge-8767	463	1	0.2548	0.2548	NUM
ejge-8767	463	2	*	*	PUNCT
ejge-8767	463	3	*	*	PUNCT
ejge-8767	464	1	0.4390	0.4390	NUM
ejge-8767	464	2	*	*	PUNCT
ejge-8767	464	3	*	*	X
ejge-8767	464	4	10.3151	10.3151	NUM
ejge-8767	464	5	*	*	PUNCT
ejge-8767	464	6	*	*	PUNCT
ejge-8767	464	7	*	*	PUNCT
ejge-8767	464	8	smallcap	smallcap	NOUN
ejge-8767	464	9	1.2761	1.2761	NUM
ejge-8767	464	10	*	*	PUNCT
ejge-8767	464	11	*	*	PUNCT
ejge-8767	464	12	*	*	PUNCT
ejge-8767	464	13	0.3646	0.3646	PUNCT
ejge-8767	464	14	*	*	PUNCT
ejge-8767	464	15	*	*	PUNCT
ejge-8767	464	16	*	*	PUNCT
ejge-8767	464	17	0.5398	0.5398	NUM
ejge-8767	464	18	12.2550	12.2550	NUM
ejge-8767	464	19	*	*	PUNCT
ejge-8767	464	20	*	*	PUNCT
ejge-8767	465	1	*	*	PUNCT
ejge-8767	465	2	_	_	PUNCT
ejge-8767	465	3	cons	con	NOUN
ejge-8767	465	4	0.0923	0.0923	NUM
ejge-8767	465	5	0.1675	0.1675	NUM
ejge-8767	465	6	0.4179	0.4179	NUM
ejge-8767	465	7	17.9412	17.9412	NUM
ejge-8767	465	8	*	*	PUNCT
ejge-8767	465	9	*	*	PUNCT
ejge-8767	465	10	*	*	PUNCT
ejge-8767	465	11	n	n	NUM
ejge-8767	465	12	978	978	NUM
ejge-8767	465	13	990	990	NUM
ejge-8767	465	14	990	990	NUM
ejge-8767	465	15	990	990	NUM
ejge-8767	465	16	1	1	NUM
ejge-8767	465	17	.	.	PUNCT
ejge-8767	465	18	introduction	introduction	NOUN
ejge-8767	465	19	2	2	NUM
ejge-8767	465	20	.	.	PUNCT
ejge-8767	466	1	literature	literature	NOUN
ejge-8767	466	2	review	review	NOUN
ejge-8767	466	3	3	3	NUM
ejge-8767	466	4	.	.	PUNCT
ejge-8767	466	5	sample	sample	NOUN
ejge-8767	466	6	and	and	CCONJ
ejge-8767	466	7	performance	performance	NOUN
ejge-8767	466	8	metrics	metric	NOUN
ejge-8767	466	9	4	4	NUM
ejge-8767	466	10	.	.	PUNCT
ejge-8767	466	11	empirical	empirical	ADJ
ejge-8767	466	12	study	study	NOUN
ejge-8767	466	13	5	5	NUM
ejge-8767	466	14	.	.	PUNCT
ejge-8767	467	1	conclusions	conclusion	NOUN
ejge-8767	467	2	references	reference	NOUN