id	sid	tid	token	lemma	pos
framr-1725	1	1	1	1	NUM
framr-1725	1	2	©	©	PROPN
framr-1725	1	3	2018	2018	NUM
framr-1725	1	4	conscientia	conscientia	PROPN
framr-1725	1	5	beam	beam	PROPN
framr-1725	1	6	.	.	PUNCT
framr-1725	2	1	all	all	DET
framr-1725	2	2	rights	right	NOUN
framr-1725	2	3	reserved	reserve	VERB
framr-1725	2	4	.	.	PUNCT
framr-1725	3	1	forecasting	forecast	VERB
framr-1725	3	2	equity	equity	NOUN
framr-1725	3	3	index	index	NOUN
framr-1725	3	4	volatility	volatility	NOUN
framr-1725	3	5	:	:	PUNCT
framr-1725	3	6	empirical	empirical	ADJ
framr-1725	3	7	evidence	evidence	NOUN
framr-1725	3	8	from	from	ADP
framr-1725	3	9	japan	japan	PROPN
framr-1725	3	10	,	,	PUNCT
framr-1725	3	11	uk	uk	PROPN
framr-1725	3	12	and	and	CCONJ
framr-1725	3	13	usa	usa	PROPN
framr-1725	3	14	data	data	PROPN
framr-1725	3	15	divine	divine	PROPN
framr-1725	3	16	n.	n.	PROPN
framr-1725	3	17	obodoechi1	obodoechi1	PROPN
framr-1725	3	18	anthony	anthony	PROPN
framr-1725	3	19	orji2	orji2	PROPN
framr-1725	3	20	onyinye	onyinye	PROPN
framr-1725	3	21	i.	i.	PROPN
framr-1725	3	22	anthony	anthony	PROPN
framr-1725	3	23	-	-	PUNCT
framr-1725	3	24	orji3	orji3	PROPN
framr-1725	3	25	+	+	PROPN
framr-1725	3	26	1,2,3department	1,2,3department	NUM
framr-1725	3	27	of	of	ADP
framr-1725	3	28	economics	economic	NOUN
framr-1725	3	29	,	,	PUNCT
framr-1725	3	30	university	university	PROPN
framr-1725	3	31	of	of	ADP
framr-1725	3	32	nigeria	nigeria	PROPN
framr-1725	3	33	,	,	PUNCT
framr-1725	3	34	nsukka	nsukka	PROPN
framr-1725	3	35	,	,	PUNCT
framr-1725	3	36	nigeria	nigeria	PROPN
framr-1725	3	37	(	(	PUNCT
framr-1725	3	38	+	+	CCONJ
framr-1725	3	39	corresponding	correspond	VERB
framr-1725	3	40	author	author	NOUN
framr-1725	3	41	)	)	PUNCT
framr-1725	3	42	abstract	abstract	ADJ
framr-1725	3	43	article	article	NOUN
framr-1725	3	44	history	history	NOUN
framr-1725	3	45	received	receive	VERB
framr-1725	3	46	:	:	PUNCT
framr-1725	3	47	17	17	NUM
framr-1725	3	48	september	september	PROPN
framr-1725	3	49	2018	2018	NUM
framr-1725	3	50	revised	revise	VERB
framr-1725	3	51	:	:	PUNCT
framr-1725	3	52	22	22	NUM
framr-1725	3	53	october	october	NOUN
framr-1725	3	54	2018	2018	NUM
framr-1725	3	55	accepted	accept	VERB
framr-1725	3	56	:	:	PUNCT
framr-1725	3	57	27	27	NUM
framr-1725	3	58	november	november	PROPN
framr-1725	3	59	2018	2018	NUM
framr-1725	3	60	published	publish	VERB
framr-1725	3	61	:	:	PUNCT
framr-1725	3	62	20	20	NUM
framr-1725	3	63	december	december	PROPN
framr-1725	3	64	2018	2018	NUM
framr-1725	3	65	keywords	keyword	NOUN
framr-1725	3	66	equity	equity	NOUN
framr-1725	3	67	market	market	NOUN
framr-1725	3	68	volatility	volatility	NOUN
framr-1725	3	69	arch	arch	PROPN
framr-1725	3	70	garch	garch	PROPN
framr-1725	3	71	egarch	egarch	PROPN
framr-1725	3	72	.	.	PUNCT
framr-1725	4	1	jel	jel	PROPN
framr-1725	4	2	classification	classification	NOUN
framr-1725	4	3	:	:	PUNCT
framr-1725	4	4	c53	c53	NOUN
framr-1725	4	5	,	,	PUNCT
framr-1725	4	6	c58	c58	PROPN
framr-1725	4	7	,	,	PUNCT
framr-1725	4	8	e17	e17	NOUN
framr-1725	4	9	,	,	PUNCT
framr-1725	4	10	e44	e44	PROPN
framr-1725	4	11	,	,	PUNCT
framr-1725	4	12	e47	e47	PROPN
framr-1725	4	13	,	,	PUNCT
framr-1725	4	14	g17	g17	NOUN
framr-1725	4	15	.	.	PUNCT
framr-1725	5	1	using	use	VERB
framr-1725	5	2	non	non	ADJ
framr-1725	5	3	-	-	ADJ
framr-1725	5	4	linear	linear	ADJ
framr-1725	5	5	models	model	NOUN
framr-1725	5	6	to	to	PART
framr-1725	5	7	forecast	forecast	VERB
framr-1725	5	8	volatility	volatility	NOUN
framr-1725	5	9	for	for	ADP
framr-1725	5	10	three	three	NUM
framr-1725	5	11	equity	equity	NOUN
framr-1725	5	12	index	index	NOUN
framr-1725	5	13	samples	sample	NOUN
framr-1725	5	14	,	,	PUNCT
framr-1725	5	15	this	this	DET
framr-1725	5	16	study	study	NOUN
framr-1725	5	17	examines	examine	VERB
framr-1725	5	18	weekly	weekly	ADJ
framr-1725	5	19	returns	return	NOUN
framr-1725	5	20	of	of	ADP
framr-1725	5	21	three	three	NUM
framr-1725	5	22	indices	index	NOUN
framr-1725	5	23	;	;	PUNCT
framr-1725	5	24	dow	dow	PROPN
framr-1725	5	25	jones	jones	PROPN
framr-1725	5	26	industrial	industrial	PROPN
framr-1725	5	27	index	index	PROPN
framr-1725	5	28	,	,	PUNCT
framr-1725	5	29	ftse	ftse	PROPN
framr-1725	5	30	100	100	NUM
framr-1725	5	31	index	index	NOUN
framr-1725	5	32	,	,	PUNCT
framr-1725	5	33	and	and	CCONJ
framr-1725	5	34	nikkei	nikkei	PROPN
framr-1725	5	35	225	225	NUM
framr-1725	5	36	index	index	NOUN
framr-1725	5	37	.	.	PUNCT
framr-1725	6	1	the	the	DET
framr-1725	6	2	sample	sample	NOUN
framr-1725	6	3	covers	cover	VERB
framr-1725	6	4	a	a	DET
framr-1725	6	5	twenty	twenty	NUM
framr-1725	6	6	year	year	NOUN
framr-1725	6	7	sample	sample	NOUN
framr-1725	6	8	period	period	NOUN
framr-1725	6	9	.	.	PUNCT
framr-1725	7	1	the	the	DET
framr-1725	7	2	study	study	NOUN
framr-1725	7	3	employs	employ	VERB
framr-1725	7	4	an	an	DET
framr-1725	7	5	in	in	ADP
framr-1725	7	6	sample	sample	NOUN
framr-1725	7	7	and	and	CCONJ
framr-1725	7	8	out	out	ADP
framr-1725	7	9	of	of	ADP
framr-1725	7	10	sample	sample	NOUN
framr-1725	7	11	volatility	volatility	NOUN
framr-1725	7	12	forecast	forecast	NOUN
framr-1725	7	13	using	use	VERB
framr-1725	7	14	standard	standard	ADJ
framr-1725	7	15	symmetric	symmetric	ADJ
framr-1725	7	16	loss	loss	NOUN
framr-1725	7	17	functions	function	NOUN
framr-1725	7	18	in	in	ADP
framr-1725	7	19	order	order	NOUN
framr-1725	7	20	to	to	PART
framr-1725	7	21	identify	identify	VERB
framr-1725	7	22	an	an	DET
framr-1725	7	23	appropriate	appropriate	ADJ
framr-1725	7	24	model	model	NOUN
framr-1725	7	25	that	that	PRON
framr-1725	7	26	best	good	ADJ
framr-1725	7	27	forecast	forecast	NOUN
framr-1725	7	28	volatility	volatility	NOUN
framr-1725	7	29	.	.	PUNCT
framr-1725	8	1	using	use	VERB
framr-1725	8	2	the	the	DET
framr-1725	8	3	mean	mean	ADJ
framr-1725	8	4	error	error	NOUN
framr-1725	8	5	(	(	PUNCT
framr-1725	8	6	me	i	PRON
framr-1725	8	7	)	)	PUNCT
framr-1725	8	8	,	,	PUNCT
framr-1725	8	9	root	root	NOUN
framr-1725	8	10	mean	mean	VERB
framr-1725	8	11	square	square	ADJ
framr-1725	8	12	error	error	NOUN
framr-1725	8	13	(	(	PUNCT
framr-1725	8	14	rmse	rmse	NOUN
framr-1725	8	15	)	)	PUNCT
framr-1725	8	16	,	,	PUNCT
framr-1725	8	17	mean	mean	VERB
framr-1725	8	18	absolute	absolute	ADJ
framr-1725	8	19	error	error	NOUN
framr-1725	8	20	(	(	PUNCT
framr-1725	8	21	mae	mae	PROPN
framr-1725	8	22	)	)	PUNCT
framr-1725	8	23	,	,	PUNCT
framr-1725	8	24	and	and	CCONJ
framr-1725	8	25	mean	mean	VERB
framr-1725	8	26	absolute	absolute	ADJ
framr-1725	8	27	percentage	percentage	NOUN
framr-1725	8	28	error	error	NOUN
framr-1725	8	29	(	(	PUNCT
framr-1725	8	30	mape	mape	NOUN
framr-1725	8	31	)	)	PUNCT
framr-1725	8	32	,	,	PUNCT
framr-1725	8	33	the	the	DET
framr-1725	8	34	study	study	NOUN
framr-1725	8	35	finds	find	VERB
framr-1725	8	36	the	the	DET
framr-1725	8	37	egarch	egarch	NOUN
framr-1725	8	38	model	model	NOUN
framr-1725	8	39	to	to	PART
framr-1725	8	40	outperform	outperform	VERB
framr-1725	8	41	the	the	DET
framr-1725	8	42	arch	arch	NOUN
framr-1725	8	43	,	,	PUNCT
framr-1725	8	44	and	and	CCONJ
framr-1725	8	45	garch	garch	NOUN
framr-1725	8	46	model	model	NOUN
framr-1725	8	47	in	in	ADP
framr-1725	8	48	forecasting	forecast	VERB
framr-1725	8	49	volatility	volatility	NOUN
framr-1725	8	50	.	.	PUNCT
framr-1725	9	1	contribution	contribution	NOUN
framr-1725	9	2	/	/	SYM
framr-1725	9	3	originality	originality	NOUN
framr-1725	9	4	:	:	PUNCT
framr-1725	9	5	this	this	PRON
framr-1725	9	6	is	be	AUX
framr-1725	9	7	among	among	ADP
framr-1725	9	8	the	the	DET
framr-1725	9	9	first	first	ADJ
framr-1725	9	10	studies	study	NOUN
framr-1725	9	11	that	that	PRON
framr-1725	9	12	found	find	VERB
framr-1725	9	13	egarch	egarch	NOUN
framr-1725	9	14	model	model	NOUN
framr-1725	9	15	to	to	PART
framr-1725	9	16	outperform	outperform	VERB
framr-1725	9	17	the	the	DET
framr-1725	9	18	arch	arch	NOUN
framr-1725	9	19	,	,	PUNCT
framr-1725	9	20	and	and	CCONJ
framr-1725	9	21	garch	garch	NOUN
framr-1725	9	22	model	model	NOUN
framr-1725	9	23	in	in	ADP
framr-1725	9	24	forecasting	forecast	VERB
framr-1725	9	25	volatility	volatility	NOUN
framr-1725	9	26	using	use	VERB
framr-1725	9	27	a	a	DET
framr-1725	9	28	combination	combination	NOUN
framr-1725	9	29	of	of	ADP
framr-1725	9	30	japan	japan	PROPN
framr-1725	9	31	,	,	PUNCT
framr-1725	9	32	uk	uk	PROPN
framr-1725	9	33	and	and	CCONJ
framr-1725	9	34	us	us	PROPN
framr-1725	9	35	data	datum	NOUN
framr-1725	9	36	.	.	PUNCT
framr-1725	10	1	1	1	X
framr-1725	10	2	.	.	X
framr-1725	10	3	introduction	introduction	NOUN
framr-1725	10	4	modelling	modelling	NOUN
framr-1725	10	5	and	and	CCONJ
framr-1725	10	6	forecasting	forecasting	NOUN
framr-1725	10	7	volatility	volatility	NOUN
framr-1725	10	8	has	have	AUX
framr-1725	10	9	been	be	AUX
framr-1725	10	10	the	the	DET
framr-1725	10	11	subject	subject	NOUN
framr-1725	10	12	of	of	ADP
framr-1725	10	13	most	most	ADJ
framr-1725	10	14	economists	economist	NOUN
framr-1725	10	15	,	,	PUNCT
framr-1725	10	16	financial	financial	ADJ
framr-1725	10	17	experts	expert	NOUN
framr-1725	10	18	,	,	PUNCT
framr-1725	10	19	researchers	researcher	NOUN
framr-1725	10	20	,	,	PUNCT
framr-1725	10	21	financial	financial	ADJ
framr-1725	10	22	advisors	advisor	NOUN
framr-1725	10	23	and	and	CCONJ
framr-1725	10	24	economic	economic	ADJ
framr-1725	10	25	policy	policy	NOUN
framr-1725	10	26	makers	maker	NOUN
framr-1725	10	27	over	over	ADP
framr-1725	10	28	the	the	DET
framr-1725	10	29	past	past	ADJ
framr-1725	10	30	three	three	NUM
framr-1725	10	31	decades	decade	NOUN
framr-1725	10	32	(	(	PUNCT
framr-1725	10	33	boguth	boguth	PROPN
framr-1725	10	34	et	et	PROPN
framr-1725	10	35	al	al	PROPN
framr-1725	10	36	.	.	PROPN
framr-1725	10	37	,	,	PUNCT
framr-1725	10	38	2011	2011	NUM
framr-1725	10	39	;	;	PUNCT
framr-1725	10	40	constantinides	constantinide	VERB
framr-1725	10	41	et	et	PROPN
framr-1725	10	42	al	al	PROPN
framr-1725	10	43	.	.	PROPN
framr-1725	10	44	,	,	PUNCT
framr-1725	10	45	2013	2013	NUM
framr-1725	10	46	;	;	PUNCT
framr-1725	10	47	bollerslev	bollerslev	NOUN
framr-1725	10	48	et	et	PROPN
framr-1725	10	49	al	al	PROPN
framr-1725	10	50	.	.	PROPN
framr-1725	10	51	,	,	PUNCT
framr-1725	10	52	2016	2016	NUM
framr-1725	10	53	;	;	PUNCT
framr-1725	10	54	cipollini	cipollini	PROPN
framr-1725	10	55	et	et	PROPN
framr-1725	10	56	al	al	PROPN
framr-1725	10	57	.	.	PROPN
framr-1725	10	58	,	,	PUNCT
framr-1725	10	59	2017	2017	NUM
framr-1725	10	60	;	;	PUNCT
framr-1725	10	61	bollerslev	bollerslev	NOUN
framr-1725	10	62	et	et	PROPN
framr-1725	10	63	al	al	PROPN
framr-1725	10	64	.	.	PROPN
framr-1725	10	65	,	,	PUNCT
framr-1725	10	66	2018	2018	NUM
framr-1725	10	67	)	)	PUNCT
framr-1725	10	68	.	.	PUNCT
framr-1725	11	1	volatility	volatility	NOUN
framr-1725	11	2	forecasting	forecasting	NOUN
framr-1725	11	3	plays	play	VERB
framr-1725	11	4	a	a	DET
framr-1725	11	5	vital	vital	ADJ
framr-1725	11	6	role	role	NOUN
framr-1725	11	7	in	in	ADP
framr-1725	11	8	the	the	DET
framr-1725	11	9	black	black	ADJ
framr-1725	11	10	and	and	CCONJ
framr-1725	11	11	scholes	schole	NOUN
framr-1725	11	12	(	(	PUNCT
framr-1725	11	13	bs	bs	NOUN
framr-1725	11	14	)	)	PUNCT
framr-1725	11	15	option	option	NOUN
framr-1725	11	16	pricing	pricing	NOUN
framr-1725	11	17	theory	theory	NOUN
framr-1725	11	18	,	,	PUNCT
framr-1725	11	19	providing	provide	VERB
framr-1725	11	20	key	key	ADJ
framr-1725	11	21	function	function	NOUN
framr-1725	11	22	in	in	ADP
framr-1725	11	23	pricing	pricing	NOUN
framr-1725	11	24	options	option	NOUN
framr-1725	11	25	in	in	ADP
framr-1725	11	26	the	the	DET
framr-1725	11	27	financial	financial	ADJ
framr-1725	11	28	market	market	NOUN
framr-1725	11	29	.	.	PUNCT
framr-1725	12	1	in	in	ADP
framr-1725	12	2	the	the	DET
framr-1725	12	3	black	black	ADJ
framr-1725	12	4	and	and	CCONJ
framr-1725	12	5	scholes	schole	NOUN
framr-1725	12	6	(	(	PUNCT
framr-1725	12	7	bs	bs	NOUN
framr-1725	12	8	)	)	PUNCT
framr-1725	12	9	model	model	NOUN
framr-1725	12	10	,	,	PUNCT
framr-1725	12	11	four	four	NUM
framr-1725	12	12	parameters	parameter	NOUN
framr-1725	12	13	are	be	AUX
framr-1725	12	14	observable	observable	ADJ
framr-1725	12	15	in	in	ADP
framr-1725	12	16	this	this	DET
framr-1725	12	17	model	model	NOUN
framr-1725	12	18	,	,	PUNCT
framr-1725	12	19	with	with	ADP
framr-1725	12	20	volatility	volatility	NOUN
framr-1725	12	21	being	be	AUX
framr-1725	12	22	the	the	DET
framr-1725	12	23	only	only	ADJ
framr-1725	12	24	parameter	parameter	NOUN
framr-1725	12	25	that	that	PRON
framr-1725	12	26	is	be	AUX
framr-1725	12	27	unobservable	unobservable	ADJ
framr-1725	12	28	.	.	PUNCT
framr-1725	13	1	this	this	PRON
framr-1725	13	2	has	have	AUX
framr-1725	13	3	given	give	VERB
framr-1725	13	4	derivative	derivative	ADJ
framr-1725	13	5	traders	trader	NOUN
framr-1725	13	6	and	and	CCONJ
framr-1725	13	7	financial	financial	ADJ
framr-1725	13	8	dealers	dealer	NOUN
framr-1725	13	9	difficulties	difficulty	NOUN
framr-1725	13	10	as	as	ADP
framr-1725	13	11	to	to	ADP
framr-1725	13	12	how	how	SCONJ
framr-1725	13	13	to	to	PART
framr-1725	13	14	observe	observe	VERB
framr-1725	13	15	or	or	CCONJ
framr-1725	13	16	predict	predict	VERB
framr-1725	13	17	this	this	DET
framr-1725	13	18	parameter	parameter	NOUN
framr-1725	13	19	accurately	accurately	ADV
framr-1725	13	20	.	.	PUNCT
framr-1725	14	1	regulators	regulator	NOUN
framr-1725	14	2	,	,	PUNCT
framr-1725	14	3	practioners	practioner	NOUN
framr-1725	14	4	and	and	CCONJ
framr-1725	14	5	academics	academic	NOUN
framr-1725	14	6	have	have	AUX
framr-1725	14	7	embraced	embrace	VERB
framr-1725	14	8	value	value	NOUN
framr-1725	14	9	at	at	ADP
framr-1725	14	10	risk	risk	NOUN
framr-1725	14	11	and	and	CCONJ
framr-1725	14	12	many	many	ADJ
framr-1725	14	13	view	view	NOUN
framr-1725	14	14	value	value	NOUN
framr-1725	14	15	at	at	ADP
framr-1725	14	16	risk	risk	NOUN
framr-1725	14	17	as	as	ADP
framr-1725	14	18	a	a	DET
framr-1725	14	19	vital	vital	ADJ
framr-1725	14	20	component	component	NOUN
framr-1725	14	21	of	of	ADP
framr-1725	14	22	current	current	ADJ
framr-1725	14	23	best	good	ADJ
framr-1725	14	24	practice	practice	NOUN
framr-1725	14	25	in	in	ADP
framr-1725	14	26	risk	risk	NOUN
framr-1725	14	27	management	management	NOUN
framr-1725	14	28	.	.	PUNCT
framr-1725	15	1	one	one	NUM
framr-1725	15	2	of	of	ADP
framr-1725	15	3	the	the	DET
framr-1725	15	4	most	most	ADV
framr-1725	15	5	common	common	ADJ
framr-1725	15	6	methods	method	NOUN
framr-1725	15	7	of	of	ADP
framr-1725	15	8	parametric	parametric	ADJ
framr-1725	15	9	approach	approach	NOUN
framr-1725	15	10	in	in	ADP
framr-1725	15	11	value	value	NOUN
framr-1725	15	12	at	at	ADP
framr-1725	15	13	risk	risk	NOUN
framr-1725	15	14	requires	require	VERB
framr-1725	15	15	calculating	calculate	VERB
framr-1725	15	16	the	the	DET
framr-1725	15	17	volatility	volatility	NOUN
framr-1725	15	18	of	of	ADP
framr-1725	15	19	a	a	DET
framr-1725	15	20	return	return	NOUN
framr-1725	15	21	series	series	NOUN
framr-1725	15	22	.	.	PUNCT
framr-1725	16	1	in	in	ADP
framr-1725	16	2	this	this	DET
framr-1725	16	3	work	work	NOUN
framr-1725	16	4	,	,	PUNCT
framr-1725	16	5	we	we	PRON
framr-1725	16	6	explore	explore	VERB
framr-1725	16	7	a	a	DET
framr-1725	16	8	number	number	NOUN
framr-1725	16	9	of	of	ADP
framr-1725	16	10	models	model	NOUN
framr-1725	16	11	ranging	range	VERB
framr-1725	16	12	from	from	ADP
framr-1725	16	13	the	the	DET
framr-1725	16	14	linear	linear	NOUN
framr-1725	16	15	models	model	NOUN
framr-1725	16	16	to	to	ADP
framr-1725	16	17	the	the	DET
framr-1725	16	18	more	more	ADV
framr-1725	16	19	sophisticated	sophisticated	ADJ
framr-1725	16	20	nonlinear	nonlinear	ADJ
framr-1725	16	21	models	model	NOUN
framr-1725	16	22	,	,	PUNCT
framr-1725	16	23	on	on	ADP
framr-1725	16	24	weekly	weekly	ADJ
framr-1725	16	25	volatility	volatility	NOUN
framr-1725	16	26	of	of	ADP
framr-1725	16	27	three	three	NUM
framr-1725	16	28	equity	equity	NOUN
framr-1725	16	29	index	index	NOUN
framr-1725	16	30	from	from	ADP
framr-1725	16	31	three	three	NUM
framr-1725	16	32	different	different	ADJ
framr-1725	16	33	indices	index	NOUN
framr-1725	16	34	and	and	CCONJ
framr-1725	16	35	they	they	PRON
framr-1725	16	36	include	include	VERB
framr-1725	16	37	;	;	PUNCT
framr-1725	16	38	the	the	DET
framr-1725	16	39	dow	dow	PROPN
framr-1725	16	40	jones	jones	PROPN
framr-1725	16	41	industrial	industrial	PROPN
framr-1725	16	42	index	index	PROPN
framr-1725	16	43	,	,	PUNCT
framr-1725	16	44	ftse	ftse	VERB
framr-1725	16	45	100	100	NUM
framr-1725	16	46	index	index	NOUN
framr-1725	16	47	and	and	CCONJ
framr-1725	16	48	the	the	DET
framr-1725	16	49	nikkei	nikkei	PROPN
framr-1725	16	50	225	225	NUM
framr-1725	16	51	index	index	NOUN
framr-1725	16	52	.	.	PUNCT
framr-1725	17	1	the	the	DET
framr-1725	17	2	mean	mean	ADJ
framr-1725	17	3	square	square	ADJ
framr-1725	17	4	error	error	NOUN
framr-1725	17	5	(	(	PUNCT
framr-1725	17	6	mse	mse	NOUN
framr-1725	17	7	)	)	PUNCT
framr-1725	17	8	,	,	PUNCT
framr-1725	17	9	root	root	NOUN
framr-1725	17	10	mean	mean	VERB
framr-1725	17	11	square	square	ADJ
framr-1725	17	12	financial	financial	ADJ
framr-1725	17	13	risk	risk	NOUN
framr-1725	17	14	and	and	CCONJ
framr-1725	17	15	management	management	NOUN
framr-1725	17	16	reviews	review	NOUN
framr-1725	17	17	2018	2018	NUM
framr-1725	17	18	vol	vol	NOUN
framr-1725	17	19	.	.	PROPN
framr-1725	17	20	4	4	NUM
framr-1725	17	21	,	,	PUNCT
framr-1725	17	22	no	no	INTJ
framr-1725	17	23	.	.	NOUN
framr-1725	17	24	1	1	NUM
framr-1725	17	25	,	,	PUNCT
framr-1725	17	26	pp	pp	ADJ
framr-1725	17	27	.	.	PUNCT
framr-1725	18	1	1	1	NUM
framr-1725	18	2	-	-	SYM
framr-1725	18	3	23	23	NUM
framr-1725	18	4	issn(e	issn(e	NOUN
framr-1725	18	5	):	):	PUNCT
framr-1725	18	6	2411	2411	NUM
framr-1725	18	7	-	-	SYM
framr-1725	18	8	6408	6408	NUM
framr-1725	18	9	issn(p	issn(p	NUM
framr-1725	18	10	):	):	PUNCT
framr-1725	18	11	2412	2412	NUM
framr-1725	18	12	-	-	SYM
framr-1725	18	13	3404	3404	NUM
framr-1725	18	14	doi	doi	NOUN
framr-1725	18	15	:	:	PUNCT
framr-1725	18	16	10.18488	10.18488	NUM
framr-1725	18	17	/	/	SYM
framr-1725	18	18	journal.89.2018.41.1.23	journal.89.2018.41.1.23	PROPN
framr-1725	18	19	©	©	PROPN
framr-1725	18	20	2018	2018	NUM
framr-1725	18	21	conscientia	conscientia	PROPN
framr-1725	18	22	beam	beam	PROPN
framr-1725	18	23	.	.	PUNCT
framr-1725	19	1	all	all	DET
framr-1725	19	2	rights	right	NOUN
framr-1725	19	3	reserved	reserve	VERB
framr-1725	19	4	.	.	PUNCT
framr-1725	20	1	https://orcid.org/0000-0001-7873-1856	https://orcid.org/0000-0001-7873-1856	PROPN
framr-1725	20	2	http://www.orcid.org/0000-0003-4032-7051	http://www.orcid.org/0000-0003-4032-7051	PROPN
framr-1725	20	3	https://orcid.org/0000-0002-0603-7264	https://orcid.org/0000-0002-0603-7264	VERB
framr-1725	20	4	https://www.doi.org/10.18488/journal.89.2018.41.1.23	https://www.doi.org/10.18488/journal.89.2018.41.1.23	PRON
framr-1725	20	5	financial	financial	ADJ
framr-1725	20	6	risk	risk	NOUN
framr-1725	20	7	and	and	CCONJ
framr-1725	20	8	management	management	NOUN
framr-1725	20	9	reviews	review	NOUN
framr-1725	20	10	,	,	PUNCT
framr-1725	20	11	2018	2018	NUM
framr-1725	20	12	,	,	PUNCT
framr-1725	20	13	4(1	4(1	NOUN
framr-1725	20	14	):	):	PUNCT
framr-1725	20	15	1	1	NUM
framr-1725	20	16	-	-	SYM
framr-1725	20	17	23	23	NUM
framr-1725	20	18	2	2	NUM
framr-1725	20	19	©	©	PROPN
framr-1725	20	20	2018	2018	NUM
framr-1725	20	21	conscientia	conscientia	PROPN
framr-1725	20	22	beam	beam	PROPN
framr-1725	20	23	.	.	PUNCT
framr-1725	21	1	all	all	DET
framr-1725	21	2	rights	right	NOUN
framr-1725	21	3	reserved	reserve	VERB
framr-1725	21	4	.	.	PUNCT
framr-1725	22	1	error	error	NOUN
framr-1725	22	2	(	(	PUNCT
framr-1725	22	3	rmse	rmse	NOUN
framr-1725	22	4	)	)	PUNCT
framr-1725	22	5	,	,	PUNCT
framr-1725	22	6	mean	mean	VERB
framr-1725	22	7	absolute	absolute	ADJ
framr-1725	22	8	percentage	percentage	NOUN
framr-1725	22	9	error	error	NOUN
framr-1725	22	10	(	(	PUNCT
framr-1725	22	11	mape	mape	NOUN
framr-1725	22	12	)	)	PUNCT
framr-1725	22	13	and	and	CCONJ
framr-1725	22	14	the	the	DET
framr-1725	22	15	mean	mean	ADJ
framr-1725	22	16	absolute	absolute	ADJ
framr-1725	22	17	error	error	NOUN
framr-1725	22	18	(	(	PUNCT
framr-1725	22	19	mae	mae	PROPN
framr-1725	22	20	)	)	PUNCT
framr-1725	22	21	will	will	AUX
framr-1725	22	22	be	be	AUX
framr-1725	22	23	employed	employ	VERB
framr-1725	22	24	later	later	ADV
framr-1725	22	25	in	in	ADP
framr-1725	22	26	this	this	DET
framr-1725	22	27	work	work	NOUN
framr-1725	22	28	to	to	PART
framr-1725	22	29	evaluate	evaluate	VERB
framr-1725	22	30	the	the	DET
framr-1725	22	31	performance	performance	NOUN
framr-1725	22	32	of	of	ADP
framr-1725	22	33	the	the	DET
framr-1725	22	34	various	various	ADJ
framr-1725	22	35	models	model	NOUN
framr-1725	22	36	as	as	ADP
framr-1725	22	37	to	to	ADP
framr-1725	22	38	how	how	SCONJ
framr-1725	22	39	they	they	PRON
framr-1725	22	40	forecast	forecast	VERB
framr-1725	22	41	volatility	volatility	NOUN
framr-1725	22	42	.	.	PUNCT
framr-1725	23	1	why	why	SCONJ
framr-1725	23	2	study	study	VERB
framr-1725	23	3	volatility	volatility	NOUN
framr-1725	23	4	?	?	PUNCT
framr-1725	24	1	volatility	volatility	NOUN
framr-1725	24	2	plays	play	VERB
framr-1725	24	3	a	a	DET
framr-1725	24	4	crucial	crucial	ADJ
framr-1725	24	5	role	role	NOUN
framr-1725	24	6	in	in	ADP
framr-1725	24	7	financial	financial	ADJ
framr-1725	24	8	markets	market	NOUN
framr-1725	24	9	and	and	CCONJ
framr-1725	24	10	hence	hence	ADV
framr-1725	24	11	it	it	PRON
framr-1725	24	12	is	be	AUX
framr-1725	24	13	important	important	ADJ
framr-1725	24	14	to	to	PART
framr-1725	24	15	understand	understand	VERB
framr-1725	24	16	this	this	DET
framr-1725	24	17	concept	concept	NOUN
framr-1725	24	18	,	,	PUNCT
framr-1725	24	19	which	which	PRON
framr-1725	24	20	is	be	AUX
framr-1725	24	21	why	why	SCONJ
framr-1725	24	22	we	we	PRON
framr-1725	24	23	model	model	VERB
framr-1725	24	24	volatility	volatility	NOUN
framr-1725	24	25	using	use	VERB
framr-1725	24	26	the	the	DET
framr-1725	24	27	non	non	ADJ
framr-1725	24	28	-	-	ADJ
framr-1725	24	29	linear	linear	ADJ
framr-1725	24	30	models	model	NOUN
framr-1725	24	31	in	in	ADP
framr-1725	24	32	this	this	DET
framr-1725	24	33	work	work	NOUN
framr-1725	24	34	.	.	PUNCT
framr-1725	25	1	volatility	volatility	NOUN
framr-1725	25	2	quantifies	quantifie	NOUN
framr-1725	25	3	risk	risk	VERB
framr-1725	25	4	and	and	CCONJ
framr-1725	25	5	thus	thus	ADV
framr-1725	25	6	plays	play	VERB
framr-1725	25	7	a	a	DET
framr-1725	25	8	major	major	ADJ
framr-1725	25	9	role	role	NOUN
framr-1725	25	10	in	in	ADP
framr-1725	25	11	modern	modern	ADJ
framr-1725	25	12	finance	finance	NOUN
framr-1725	25	13	.	.	PUNCT
framr-1725	26	1	black	black	ADJ
framr-1725	26	2	and	and	CCONJ
framr-1725	26	3	scholes	schole	NOUN
framr-1725	26	4	(	(	PUNCT
framr-1725	26	5	1973	1973	NUM
framr-1725	26	6	)	)	PUNCT
framr-1725	26	7	evaluated	evaluate	VERB
framr-1725	26	8	volatility	volatility	NOUN
framr-1725	26	9	using	use	VERB
framr-1725	26	10	the	the	DET
framr-1725	26	11	option	option	NOUN
framr-1725	26	12	pricing	pricing	NOUN
framr-1725	26	13	formula	formula	NOUN
framr-1725	26	14	.	.	PUNCT
framr-1725	27	1	it	it	PRON
framr-1725	27	2	shows	show	VERB
framr-1725	27	3	the	the	DET
framr-1725	27	4	relationship	relationship	NOUN
framr-1725	27	5	between	between	ADP
framr-1725	27	6	an	an	DET
framr-1725	27	7	option	option	NOUN
framr-1725	27	8	’s	’s	PART
framr-1725	27	9	price	price	NOUN
framr-1725	27	10	and	and	CCONJ
framr-1725	27	11	several	several	ADJ
framr-1725	27	12	other	other	ADJ
framr-1725	27	13	factors	factor	NOUN
framr-1725	27	14	,	,	PUNCT
framr-1725	27	15	including	include	VERB
framr-1725	27	16	volatility	volatility	NOUN
framr-1725	27	17	of	of	ADP
framr-1725	27	18	the	the	DET
framr-1725	27	19	underlying	underlie	VERB
framr-1725	27	20	asset	asset	NOUN
framr-1725	27	21	’s	’s	PART
framr-1725	27	22	price	price	NOUN
framr-1725	27	23	.	.	PUNCT
framr-1725	28	1	ye	ye	PROPN
framr-1725	28	2	-	-	PUNCT
framr-1725	28	3	hsiang	hsiang	PROPN
framr-1725	28	4	(	(	PUNCT
framr-1725	28	5	1993	1993	NUM
framr-1725	28	6	)	)	PUNCT
framr-1725	28	7	argued	argue	VERB
framr-1725	28	8	that	that	SCONJ
framr-1725	28	9	in	in	ADP
framr-1725	28	10	order	order	NOUN
framr-1725	28	11	to	to	PART
framr-1725	28	12	derive	derive	VERB
framr-1725	28	13	an	an	DET
framr-1725	28	14	option	option	NOUN
framr-1725	28	15	’s	’s	PART
framr-1725	28	16	price	price	NOUN
framr-1725	28	17	from	from	ADP
framr-1725	28	18	the	the	DET
framr-1725	28	19	black	black	ADJ
framr-1725	28	20	and	and	CCONJ
framr-1725	28	21	scholes	schole	NOUN
framr-1725	28	22	formula	formula	NOUN
framr-1725	28	23	,	,	PUNCT
framr-1725	28	24	the	the	DET
framr-1725	28	25	option	option	NOUN
framr-1725	28	26	is	be	AUX
framr-1725	28	27	replicated	replicate	VERB
framr-1725	28	28	by	by	ADP
framr-1725	28	29	a	a	DET
framr-1725	28	30	portfolio	portfolio	NOUN
framr-1725	28	31	consisting	consist	VERB
framr-1725	28	32	of	of	ADP
framr-1725	28	33	the	the	DET
framr-1725	28	34	underlying	underlie	VERB
framr-1725	28	35	asset	asset	NOUN
framr-1725	28	36	and	and	CCONJ
framr-1725	28	37	a	a	DET
framr-1725	28	38	risk	risk	NOUN
framr-1725	28	39	free	free	ADJ
framr-1725	28	40	bond	bond	NOUN
framr-1725	28	41	.	.	PUNCT
framr-1725	29	1	in	in	ADP
framr-1725	29	2	the	the	DET
framr-1725	29	3	black	black	ADJ
framr-1725	29	4	and	and	CCONJ
framr-1725	29	5	scholes	schole	NOUN
framr-1725	29	6	formula	formula	NOUN
framr-1725	29	7	,	,	PUNCT
framr-1725	29	8	different	different	ADJ
framr-1725	29	9	expectation	expectation	NOUN
framr-1725	29	10	of	of	ADP
framr-1725	29	11	volatility	volatility	NOUN
framr-1725	29	12	will	will	AUX
framr-1725	29	13	result	result	VERB
framr-1725	29	14	in	in	ADP
framr-1725	29	15	a	a	DET
framr-1725	29	16	different	different	ADJ
framr-1725	29	17	option	option	NOUN
framr-1725	29	18	price	price	NOUN
framr-1725	29	19	from	from	ADP
framr-1725	29	20	this	this	DET
framr-1725	29	21	formula	formula	NOUN
framr-1725	29	22	.	.	PUNCT
framr-1725	30	1	this	this	PRON
framr-1725	30	2	allows	allow	VERB
framr-1725	30	3	for	for	ADP
framr-1725	30	4	an	an	DET
framr-1725	30	5	arbitrage	arbitrage	NOUN
framr-1725	30	6	opportunity	opportunity	NOUN
framr-1725	30	7	if	if	SCONJ
framr-1725	30	8	the	the	DET
framr-1725	30	9	option	option	NOUN
framr-1725	30	10	’s	’s	PART
framr-1725	30	11	market	market	NOUN
framr-1725	30	12	price	price	NOUN
framr-1725	30	13	is	be	AUX
framr-1725	30	14	different	different	ADJ
framr-1725	30	15	from	from	ADP
framr-1725	30	16	the	the	DET
framr-1725	30	17	initial	initial	ADJ
framr-1725	30	18	cost	cost	NOUN
framr-1725	30	19	of	of	ADP
framr-1725	30	20	the	the	DET
framr-1725	30	21	portfolio	portfolio	NOUN
framr-1725	30	22	.	.	PUNCT
framr-1725	31	1	thus	thus	ADV
framr-1725	31	2	an	an	DET
framr-1725	31	3	option	option	NOUN
framr-1725	31	4	trader	trader	NOUN
framr-1725	31	5	is	be	AUX
framr-1725	31	6	able	able	ADJ
framr-1725	31	7	to	to	PART
framr-1725	31	8	make	make	VERB
framr-1725	31	9	profit	profit	NOUN
framr-1725	31	10	by	by	ADP
framr-1725	31	11	making	make	VERB
framr-1725	31	12	superior	superior	ADJ
framr-1725	31	13	forecasts	forecast	NOUN
framr-1725	31	14	of	of	ADP
framr-1725	31	15	future	future	ADJ
framr-1725	31	16	volatility	volatility	NOUN
framr-1725	31	17	.	.	PUNCT
framr-1725	32	1	with	with	ADP
framr-1725	32	2	the	the	DET
framr-1725	32	3	vast	vast	ADJ
framr-1725	32	4	portion	portion	NOUN
framr-1725	32	5	of	of	ADP
framr-1725	32	6	the	the	DET
framr-1725	32	7	financial	financial	ADJ
framr-1725	32	8	markets	market	NOUN
framr-1725	32	9	so	so	ADV
framr-1725	32	10	dependent	dependent	ADJ
framr-1725	32	11	on	on	ADP
framr-1725	32	12	the	the	DET
framr-1725	32	13	volatility	volatility	NOUN
framr-1725	32	14	behaviour	behaviour	NOUN
framr-1725	32	15	,	,	PUNCT
framr-1725	32	16	there	there	PRON
framr-1725	32	17	are	be	VERB
framr-1725	32	18	obvious	obvious	ADJ
framr-1725	32	19	benefits	benefit	NOUN
framr-1725	32	20	to	to	ADP
framr-1725	32	21	understanding	understand	VERB
framr-1725	32	22	volatility	volatility	NOUN
framr-1725	32	23	better	well	ADV
framr-1725	32	24	.	.	PUNCT
framr-1725	33	1	improved	improved	ADJ
framr-1725	33	2	forecast	forecast	NOUN
framr-1725	33	3	would	would	AUX
framr-1725	33	4	allow	allow	VERB
framr-1725	33	5	traders	trader	NOUN
framr-1725	33	6	to	to	PART
framr-1725	33	7	price	price	VERB
framr-1725	33	8	their	their	PRON
framr-1725	33	9	options	option	NOUN
framr-1725	33	10	more	more	ADV
framr-1725	33	11	accurately	accurately	ADV
framr-1725	33	12	.	.	PUNCT
framr-1725	34	1	using	use	VERB
framr-1725	34	2	more	more	ADJ
framr-1725	34	3	frequent	frequent	ADJ
framr-1725	34	4	data	datum	NOUN
framr-1725	34	5	provide	provide	VERB
framr-1725	34	6	better	well	ADJ
framr-1725	34	7	estimation	estimation	NOUN
framr-1725	34	8	of	of	ADP
framr-1725	34	9	volatility	volatility	NOUN
framr-1725	34	10	.	.	PUNCT
framr-1725	35	1	day	day	NOUN
framr-1725	35	2	and	and	CCONJ
framr-1725	35	3	lewis	lewis	PROPN
framr-1725	35	4	(	(	PUNCT
framr-1725	35	5	1992	1992	NUM
framr-1725	35	6	)	)	PUNCT
framr-1725	35	7	proved	prove	VERB
framr-1725	35	8	that	that	SCONJ
framr-1725	35	9	volatility	volatility	NOUN
framr-1725	35	10	can	can	AUX
framr-1725	35	11	be	be	AUX
framr-1725	35	12	predictable	predictable	ADJ
framr-1725	35	13	using	use	VERB
framr-1725	35	14	the	the	DET
framr-1725	35	15	arch	arch	ADJ
framr-1725	35	16	models	model	NOUN
framr-1725	35	17	and	and	CCONJ
framr-1725	35	18	that	that	SCONJ
framr-1725	35	19	volatility	volatility	NOUN
framr-1725	35	20	is	be	AUX
framr-1725	35	21	entirely	entirely	ADV
framr-1725	35	22	captured	capture	VERB
framr-1725	35	23	by	by	ADP
framr-1725	35	24	implied	imply	VERB
framr-1725	35	25	volatility	volatility	NOUN
framr-1725	35	26	within	within	ADP
framr-1725	35	27	the	the	DET
framr-1725	35	28	black	black	ADJ
framr-1725	35	29	and	and	CCONJ
framr-1725	35	30	scholes	schole	NOUN
framr-1725	35	31	model	model	NOUN
framr-1725	35	32	.	.	PUNCT
framr-1725	36	1	the	the	DET
framr-1725	36	2	reason	reason	NOUN
framr-1725	36	3	for	for	ADP
framr-1725	36	4	this	this	PRON
framr-1725	36	5	is	be	AUX
framr-1725	36	6	that	that	SCONJ
framr-1725	36	7	autoregressive	autoregressive	ADJ
framr-1725	36	8	models	model	NOUN
framr-1725	36	9	are	be	AUX
framr-1725	36	10	still	still	ADV
framr-1725	36	11	not	not	PART
framr-1725	36	12	entirely	entirely	ADV
framr-1725	36	13	exploited	exploit	VERB
framr-1725	36	14	by	by	ADP
framr-1725	36	15	the	the	DET
framr-1725	36	16	market	market	NOUN
framr-1725	36	17	.	.	PUNCT
framr-1725	37	1	however	however	ADV
framr-1725	37	2	,	,	PUNCT
framr-1725	37	3	kuwahara	kuwahara	PROPN
framr-1725	37	4	and	and	CCONJ
framr-1725	37	5	marsh	marsh	PROPN
framr-1725	37	6	(	(	PUNCT
framr-1725	37	7	1992	1992	NUM
framr-1725	37	8	)	)	PUNCT
framr-1725	37	9	argued	argue	VERB
framr-1725	37	10	that	that	SCONJ
framr-1725	37	11	the	the	DET
framr-1725	37	12	conditional	conditional	ADJ
framr-1725	37	13	volatility	volatility	NOUN
framr-1725	37	14	derived	derive	VERB
framr-1725	37	15	from	from	ADP
framr-1725	37	16	garch	garch	NOUN
framr-1725	37	17	and	and	CCONJ
framr-1725	37	18	egarch	egarch	NOUN
framr-1725	37	19	models	model	NOUN
framr-1725	37	20	enable	enable	VERB
framr-1725	37	21	researchers	researcher	NOUN
framr-1725	37	22	to	to	PART
framr-1725	37	23	obtain	obtain	VERB
framr-1725	37	24	option	option	NOUN
framr-1725	37	25	values	value	NOUN
framr-1725	37	26	which	which	PRON
framr-1725	37	27	are	be	AUX
framr-1725	37	28	very	very	ADV
framr-1725	37	29	close	close	ADJ
framr-1725	37	30	to	to	ADP
framr-1725	37	31	those	those	PRON
framr-1725	37	32	that	that	PRON
framr-1725	37	33	could	could	AUX
framr-1725	37	34	be	be	AUX
framr-1725	37	35	observed	observe	VERB
framr-1725	37	36	by	by	ADP
framr-1725	37	37	the	the	DET
framr-1725	37	38	market	market	NOUN
framr-1725	37	39	.	.	PUNCT
framr-1725	38	1	this	this	PRON
framr-1725	38	2	suggests	suggest	VERB
framr-1725	38	3	that	that	SCONJ
framr-1725	38	4	conditional	conditional	ADJ
framr-1725	38	5	volatility	volatility	NOUN
framr-1725	38	6	can	can	AUX
framr-1725	38	7	not	not	PART
framr-1725	38	8	be	be	AUX
framr-1725	38	9	used	use	VERB
framr-1725	38	10	as	as	ADP
framr-1725	38	11	an	an	DET
framr-1725	38	12	additional	additional	ADJ
framr-1725	38	13	source	source	NOUN
framr-1725	38	14	of	of	ADP
framr-1725	38	15	information	information	NOUN
framr-1725	38	16	,	,	PUNCT
framr-1725	38	17	since	since	SCONJ
framr-1725	38	18	it	it	PRON
framr-1725	38	19	can	can	AUX
framr-1725	38	20	be	be	AUX
framr-1725	38	21	observed	observe	VERB
framr-1725	38	22	in	in	ADP
framr-1725	38	23	the	the	DET
framr-1725	38	24	implied	imply	VERB
framr-1725	38	25	values	value	NOUN
framr-1725	38	26	.	.	PUNCT
framr-1725	39	1	according	accord	VERB
framr-1725	39	2	to	to	ADP
framr-1725	39	3	michael	michael	PROPN
framr-1725	39	4	minnich	minnich	PROPN
framr-1725	39	5	,	,	PUNCT
framr-1725	39	6	vice	vice	NOUN
framr-1725	39	7	president	president	NOUN
framr-1725	39	8	of	of	ADP
framr-1725	39	9	capital	capital	NOUN
framr-1725	39	10	market	market	NOUN
framr-1725	39	11	risk	risk	NOUN
framr-1725	39	12	advisor	advisor	NOUN
framr-1725	39	13	,	,	PUNCT
framr-1725	39	14	value	value	NOUN
framr-1725	39	15	at	at	ADP
framr-1725	39	16	risk	risk	NOUN
framr-1725	39	17	is	be	AUX
framr-1725	39	18	a	a	DET
framr-1725	39	19	very	very	ADV
framr-1725	39	20	important	important	ADJ
framr-1725	39	21	component	component	NOUN
framr-1725	39	22	of	of	ADP
framr-1725	39	23	risk	risk	NOUN
framr-1725	39	24	management	management	NOUN
framr-1725	39	25	and	and	CCONJ
framr-1725	39	26	also	also	ADV
framr-1725	39	27	an	an	DET
framr-1725	39	28	important	important	ADJ
framr-1725	39	29	part	part	NOUN
framr-1725	39	30	of	of	ADP
framr-1725	39	31	volatility	volatility	NOUN
framr-1725	39	32	forecasting	forecasting	NOUN
framr-1725	39	33	.	.	PUNCT
framr-1725	40	1	furthermore	furthermore	ADV
framr-1725	40	2	,	,	PUNCT
framr-1725	40	3	modelling	modelling	NOUN
framr-1725	40	4	and	and	CCONJ
framr-1725	40	5	forecasting	forecasting	NOUN
framr-1725	40	6	volatility	volatility	NOUN
framr-1725	40	7	has	have	AUX
framr-1725	40	8	been	be	AUX
framr-1725	40	9	subject	subject	ADJ
framr-1725	40	10	of	of	ADP
framr-1725	40	11	interest	interest	NOUN
framr-1725	40	12	to	to	ADP
framr-1725	40	13	many	many	ADJ
framr-1725	40	14	academicians	academician	NOUN
framr-1725	40	15	,	,	PUNCT
framr-1725	40	16	portfolio	portfolio	NOUN
framr-1725	40	17	analysis	analysis	NOUN
framr-1725	40	18	’s	’s	ADV
framr-1725	40	19	and	and	CCONJ
framr-1725	40	20	those	those	PRON
framr-1725	40	21	involved	involve	VERB
framr-1725	40	22	with	with	ADP
framr-1725	40	23	risk	risk	NOUN
framr-1725	40	24	management	management	NOUN
framr-1725	40	25	.	.	PUNCT
framr-1725	41	1	there	there	PRON
framr-1725	41	2	has	have	AUX
framr-1725	41	3	been	be	AUX
framr-1725	41	4	growing	grow	VERB
framr-1725	41	5	interest	interest	NOUN
framr-1725	41	6	in	in	ADP
framr-1725	41	7	this	this	DET
framr-1725	41	8	area	area	NOUN
framr-1725	41	9	of	of	ADP
framr-1725	41	10	research	research	NOUN
framr-1725	41	11	as	as	ADP
framr-1725	41	12	a	a	DET
framr-1725	41	13	result	result	NOUN
framr-1725	41	14	of	of	ADP
framr-1725	41	15	the	the	DET
framr-1725	41	16	current	current	ADJ
framr-1725	41	17	economic	economic	ADJ
framr-1725	41	18	crisis	crisis	NOUN
framr-1725	41	19	hitting	hit	VERB
framr-1725	41	20	most	most	ADJ
framr-1725	41	21	countries	country	NOUN
framr-1725	41	22	of	of	ADP
framr-1725	41	23	the	the	DET
framr-1725	41	24	world	world	NOUN
framr-1725	41	25	.	.	PUNCT
framr-1725	42	1	the	the	DET
framr-1725	42	2	indices	index	NOUN
framr-1725	42	3	of	of	ADP
framr-1725	42	4	most	most	ADJ
framr-1725	42	5	countries	country	NOUN
framr-1725	42	6	are	be	AUX
framr-1725	42	7	experiencing	experience	VERB
framr-1725	42	8	severe	severe	ADJ
framr-1725	42	9	downturn	downturn	NOUN
framr-1725	42	10	and	and	CCONJ
framr-1725	42	11	hence	hence	ADV
framr-1725	42	12	derivative	derivative	ADJ
framr-1725	42	13	traders	trader	NOUN
framr-1725	42	14	,	,	PUNCT
framr-1725	42	15	academicians	academician	NOUN
framr-1725	42	16	and	and	CCONJ
framr-1725	42	17	portfolio	portfolio	NOUN
framr-1725	42	18	managers	manager	NOUN
framr-1725	42	19	are	be	AUX
framr-1725	42	20	more	more	ADJ
framr-1725	42	21	concern	concern	NOUN
framr-1725	42	22	about	about	ADP
framr-1725	42	23	this	this	DET
framr-1725	42	24	problem	problem	NOUN
framr-1725	42	25	.	.	PUNCT
framr-1725	43	1	the	the	DET
framr-1725	43	2	purpose	purpose	NOUN
framr-1725	43	3	of	of	ADP
framr-1725	43	4	this	this	DET
framr-1725	43	5	paper	paper	NOUN
framr-1725	43	6	then	then	ADV
framr-1725	43	7	is	be	AUX
framr-1725	43	8	to	to	PART
framr-1725	43	9	forecast	forecast	VERB
framr-1725	43	10	volatility	volatility	NOUN
framr-1725	43	11	using	use	VERB
framr-1725	43	12	the	the	DET
framr-1725	43	13	non	non	ADJ
framr-1725	43	14	-	-	ADJ
framr-1725	43	15	linear	linear	ADJ
framr-1725	43	16	models	model	NOUN
framr-1725	43	17	and	and	CCONJ
framr-1725	43	18	applying	apply	VERB
framr-1725	43	19	the	the	DET
framr-1725	43	20	various	various	ADJ
framr-1725	43	21	standard	standard	ADJ
framr-1725	43	22	symmetric	symmetric	ADJ
framr-1725	43	23	loss	loss	NOUN
framr-1725	43	24	functions	function	NOUN
framr-1725	43	25	to	to	PART
framr-1725	43	26	evaluate	evaluate	VERB
framr-1725	43	27	which	which	PRON
framr-1725	43	28	of	of	ADP
framr-1725	43	29	these	these	DET
framr-1725	43	30	models	model	NOUN
framr-1725	43	31	forecast	forecast	VERB
framr-1725	43	32	volatility	volatility	NOUN
framr-1725	43	33	better	well	ADV
framr-1725	43	34	.	.	PUNCT
framr-1725	44	1	the	the	DET
framr-1725	44	2	rest	rest	NOUN
framr-1725	44	3	of	of	ADP
framr-1725	44	4	the	the	DET
framr-1725	44	5	paper	paper	NOUN
framr-1725	44	6	is	be	AUX
framr-1725	44	7	structured	structure	VERB
framr-1725	44	8	as	as	SCONJ
framr-1725	44	9	follows	follow	VERB
framr-1725	44	10	:	:	PUNCT
framr-1725	44	11	section	section	NOUN
framr-1725	44	12	2	2	NUM
framr-1725	44	13	presents	present	VERB
framr-1725	44	14	a	a	DET
framr-1725	44	15	concise	concise	ADJ
framr-1725	44	16	review	review	NOUN
framr-1725	44	17	of	of	ADP
framr-1725	44	18	the	the	DET
framr-1725	44	19	various	various	ADJ
framr-1725	44	20	literature	literature	NOUN
framr-1725	44	21	on	on	ADP
framr-1725	44	22	volatility	volatility	NOUN
framr-1725	44	23	.	.	PUNCT
framr-1725	45	1	section	section	NOUN
framr-1725	45	2	3	3	NUM
framr-1725	45	3	discusses	discuss	VERB
framr-1725	45	4	the	the	DET
framr-1725	45	5	methodology	methodology	NOUN
framr-1725	45	6	while	while	SCONJ
framr-1725	45	7	section	section	NOUN
framr-1725	45	8	4	4	NUM
framr-1725	45	9	and	and	CCONJ
framr-1725	45	10	5	5	NUM
framr-1725	45	11	is	be	AUX
framr-1725	45	12	analyses	analyse	VERB
framr-1725	45	13	the	the	DET
framr-1725	45	14	empirical	empirical	ADJ
framr-1725	45	15	results	result	NOUN
framr-1725	45	16	and	and	CCONJ
framr-1725	45	17	conclusion	conclusion	NOUN
framr-1725	45	18	respectively	respectively	ADV
framr-1725	45	19	.	.	PUNCT
framr-1725	46	1	2	2	X
framr-1725	46	2	.	.	X
framr-1725	46	3	literature	literature	NOUN
framr-1725	46	4	review	review	NOUN
framr-1725	46	5	over	over	ADP
framr-1725	46	6	the	the	DET
framr-1725	46	7	last	last	ADJ
framr-1725	46	8	two	two	NUM
framr-1725	46	9	decades	decade	NOUN
framr-1725	46	10	,	,	PUNCT
framr-1725	46	11	there	there	PRON
framr-1725	46	12	has	have	AUX
framr-1725	46	13	been	be	AUX
framr-1725	46	14	an	an	DET
framr-1725	46	15	increasing	increase	VERB
framr-1725	46	16	interest	interest	NOUN
framr-1725	46	17	in	in	ADP
framr-1725	46	18	modelling	model	VERB
framr-1725	46	19	the	the	DET
framr-1725	46	20	volatility	volatility	NOUN
framr-1725	46	21	of	of	ADP
framr-1725	46	22	stock	stock	NOUN
framr-1725	46	23	market	market	NOUN
framr-1725	46	24	returns	return	NOUN
framr-1725	46	25	(	(	PUNCT
framr-1725	46	26	akgiray	akgiray	NOUN
framr-1725	46	27	,	,	PUNCT
framr-1725	46	28	1989	1989	NUM
framr-1725	46	29	;	;	PUNCT
framr-1725	46	30	dimson	dimson	NOUN
framr-1725	46	31	and	and	CCONJ
framr-1725	46	32	marsh	marsh	PROPN
framr-1725	46	33	,	,	PUNCT
framr-1725	46	34	1990	1990	NUM
framr-1725	46	35	;	;	PUNCT
framr-1725	46	36	pagan	pagan	PROPN
framr-1725	46	37	and	and	CCONJ
framr-1725	46	38	schwert	schwert	NOUN
framr-1725	46	39	,	,	PUNCT
framr-1725	46	40	1990	1990	NUM
framr-1725	46	41	;	;	PUNCT
framr-1725	46	42	boguth	boguth	PROPN
framr-1725	46	43	et	et	PROPN
framr-1725	46	44	al	al	PROPN
framr-1725	46	45	.	.	PROPN
framr-1725	46	46	,	,	PUNCT
framr-1725	46	47	2011	2011	NUM
framr-1725	46	48	;	;	PUNCT
framr-1725	46	49	constantinides	constantinide	VERB
framr-1725	46	50	et	et	PROPN
framr-1725	46	51	al	al	PROPN
framr-1725	46	52	.	.	PROPN
framr-1725	46	53	,	,	PUNCT
framr-1725	46	54	2013	2013	NUM
framr-1725	46	55	;	;	PUNCT
framr-1725	46	56	bollerslev	bollerslev	NOUN
framr-1725	46	57	et	et	PROPN
framr-1725	46	58	al	al	PROPN
framr-1725	46	59	.	.	PROPN
framr-1725	46	60	,	,	PUNCT
framr-1725	46	61	2016	2016	NUM
framr-1725	46	62	;	;	PUNCT
framr-1725	46	63	cipollini	cipollini	PROPN
framr-1725	46	64	et	et	PROPN
framr-1725	46	65	al	al	PROPN
framr-1725	46	66	.	.	PROPN
framr-1725	46	67	,	,	PUNCT
framr-1725	46	68	2017	2017	NUM
framr-1725	46	69	;	;	PUNCT
framr-1725	46	70	bollerslev	bollerslev	NOUN
framr-1725	46	71	et	et	PROPN
framr-1725	46	72	al	al	PROPN
framr-1725	46	73	.	.	PROPN
framr-1725	46	74	,	,	PUNCT
framr-1725	46	75	2018	2018	NUM
framr-1725	46	76	)	)	PUNCT
framr-1725	46	77	.	.	PUNCT
framr-1725	47	1	this	this	PRON
framr-1725	47	2	is	be	AUX
framr-1725	47	3	basically	basically	ADV
framr-1725	47	4	due	due	ADP
framr-1725	47	5	to	to	ADP
framr-1725	47	6	the	the	DET
framr-1725	47	7	highly	highly	ADV
framr-1725	47	8	volatile	volatile	ADJ
framr-1725	47	9	movements	movement	NOUN
framr-1725	47	10	of	of	ADP
framr-1725	47	11	prices	price	NOUN
framr-1725	47	12	of	of	ADP
framr-1725	47	13	stock	stock	NOUN
framr-1725	47	14	returns	return	NOUN
framr-1725	47	15	in	in	ADP
framr-1725	47	16	the	the	DET
framr-1725	47	17	financial	financial	ADJ
framr-1725	47	18	market	market	NOUN
framr-1725	47	19	.	.	PUNCT
framr-1725	48	1	this	this	PRON
framr-1725	48	2	has	have	AUX
framr-1725	48	3	led	lead	VERB
framr-1725	48	4	researchers	researcher	NOUN
framr-1725	48	5	into	into	ADP
framr-1725	48	6	investigating	investigate	VERB
framr-1725	48	7	the	the	DET
framr-1725	48	8	level	level	NOUN
framr-1725	48	9	and	and	CCONJ
framr-1725	48	10	stationarity	stationarity	NOUN
framr-1725	48	11	of	of	ADP
framr-1725	48	12	volatility	volatility	NOUN
framr-1725	48	13	over	over	ADP
framr-1725	48	14	time	time	NOUN
framr-1725	48	15	(	(	PUNCT
framr-1725	48	16	day	day	NOUN
framr-1725	48	17	and	and	CCONJ
framr-1725	48	18	lewis	lewis	PROPN
framr-1725	48	19	,	,	PUNCT
framr-1725	48	20	1992	1992	NUM
framr-1725	48	21	;	;	PUNCT
framr-1725	48	22	tse	tse	PROPN
framr-1725	48	23	and	and	CCONJ
framr-1725	48	24	tung	tung	PROPN
framr-1725	48	25	,	,	PUNCT
framr-1725	48	26	1992	1992	NUM
framr-1725	48	27	;	;	PUNCT
framr-1725	48	28	figlewski	figlewski	PROPN
framr-1725	48	29	et	et	PROPN
framr-1725	48	30	al	al	PROPN
framr-1725	48	31	.	.	PROPN
framr-1725	48	32	,	,	PUNCT
framr-1725	48	33	1993	1993	NUM
framr-1725	48	34	)	)	PUNCT
framr-1725	48	35	.	.	PUNCT
framr-1725	49	1	most	most	ADJ
framr-1725	49	2	research	research	NOUN
framr-1725	49	3	has	have	AUX
framr-1725	49	4	been	be	AUX
framr-1725	49	5	directed	direct	VERB
framr-1725	49	6	towards	towards	ADP
framr-1725	49	7	examining	examine	VERB
framr-1725	49	8	the	the	DET
framr-1725	49	9	accuracy	accuracy	NOUN
framr-1725	49	10	of	of	ADP
framr-1725	49	11	this	this	DET
framr-1725	49	12	forecast	forecast	NOUN
framr-1725	49	13	.	.	PUNCT
framr-1725	50	1	both	both	DET
framr-1725	50	2	linear	linear	ADJ
framr-1725	50	3	and	and	CCONJ
framr-1725	50	4	nonlinear	nonlinear	ADJ
framr-1725	50	5	models	model	NOUN
framr-1725	50	6	have	have	AUX
framr-1725	50	7	been	be	AUX
framr-1725	50	8	applied	apply	VERB
framr-1725	50	9	by	by	ADP
framr-1725	50	10	different	different	ADJ
framr-1725	50	11	researchers	researcher	NOUN
framr-1725	50	12	and	and	CCONJ
framr-1725	50	13	each	each	PRON
framr-1725	50	14	of	of	ADP
framr-1725	50	15	them	they	PRON
framr-1725	50	16	came	come	VERB
framr-1725	50	17	out	out	ADP
framr-1725	50	18	with	with	ADP
framr-1725	50	19	different	different	ADJ
framr-1725	50	20	conclusions	conclusion	NOUN
framr-1725	50	21	as	as	SCONJ
framr-1725	50	22	regards	regard	VERB
framr-1725	50	23	the	the	DET
framr-1725	50	24	accuracy	accuracy	NOUN
framr-1725	50	25	of	of	ADP
framr-1725	50	26	volatility	volatility	NOUN
framr-1725	50	27	forecast	forecast	NOUN
framr-1725	50	28	(	(	PUNCT
framr-1725	50	29	cao	cao	PROPN
framr-1725	50	30	and	and	CCONJ
framr-1725	50	31	tsay	tsay	PROPN
framr-1725	50	32	,	,	PUNCT
framr-1725	50	33	1992	1992	NUM
framr-1725	50	34	;	;	PUNCT
framr-1725	50	35	heynen	heynen	PROPN
framr-1725	50	36	and	and	CCONJ
framr-1725	50	37	kat	kat	PROPN
framr-1725	50	38	,	,	PUNCT
framr-1725	50	39	1994	1994	NUM
framr-1725	50	40	;	;	PUNCT
framr-1725	50	41	brailsford	brailsford	PROPN
framr-1725	50	42	and	and	CCONJ
framr-1725	50	43	faff	faff	PROPN
framr-1725	50	44	,	,	PUNCT
framr-1725	50	45	1996	1996	NUM
framr-1725	50	46	;	;	PUNCT
framr-1725	50	47	figlewski	figlewski	NOUN
framr-1725	50	48	,	,	PUNCT
framr-1725	50	49	1997	1997	NUM
framr-1725	50	50	)	)	PUNCT
framr-1725	50	51	.	.	PUNCT
framr-1725	51	1	financial	financial	ADJ
framr-1725	51	2	risk	risk	NOUN
framr-1725	51	3	and	and	CCONJ
framr-1725	51	4	management	management	NOUN
framr-1725	51	5	reviews	review	NOUN
framr-1725	51	6	,	,	PUNCT
framr-1725	51	7	2018	2018	NUM
framr-1725	51	8	,	,	PUNCT
framr-1725	51	9	4(1	4(1	NOUN
framr-1725	51	10	):	):	PUNCT
framr-1725	51	11	1	1	NUM
framr-1725	51	12	-	-	SYM
framr-1725	51	13	23	23	NUM
framr-1725	51	14	3	3	NUM
framr-1725	51	15	©	©	PROPN
framr-1725	51	16	2018	2018	NUM
framr-1725	51	17	conscientia	conscientia	PROPN
framr-1725	51	18	beam	beam	PROPN
framr-1725	51	19	.	.	PUNCT
framr-1725	52	1	all	all	DET
framr-1725	52	2	rights	right	NOUN
framr-1725	52	3	reserved	reserve	VERB
framr-1725	52	4	.	.	PUNCT
framr-1725	53	1	following	follow	VERB
framr-1725	53	2	the	the	DET
framr-1725	53	3	outburst	outburst	NOUN
framr-1725	53	4	of	of	ADP
framr-1725	53	5	the	the	DET
framr-1725	53	6	arch	arch	ADJ
framr-1725	53	7	models	model	NOUN
framr-1725	53	8	by	by	ADP
framr-1725	53	9	engle	engle	PROPN
framr-1725	53	10	(	(	PUNCT
framr-1725	53	11	1982	1982	NUM
framr-1725	53	12	)	)	PUNCT
framr-1725	53	13	;	;	PUNCT
framr-1725	53	14	bollerslev	bollerslev	ADJ
framr-1725	53	15	(	(	PUNCT
framr-1725	53	16	1986	1986	NUM
framr-1725	53	17	)	)	PUNCT
framr-1725	53	18	and	and	CCONJ
framr-1725	53	19	nelson	nelson	PROPN
framr-1725	53	20	(	(	PUNCT
framr-1725	53	21	1991	1991	NUM
framr-1725	53	22	)	)	PUNCT
framr-1725	53	23	literature	literature	NOUN
framr-1725	53	24	surrounding	surround	VERB
framr-1725	53	25	its	its	PRON
framr-1725	53	26	emergence	emergence	NOUN
framr-1725	53	27	has	have	AUX
framr-1725	53	28	boomed	boom	VERB
framr-1725	53	29	since	since	SCONJ
framr-1725	53	30	its	its	PRON
framr-1725	53	31	discovery	discovery	NOUN
framr-1725	53	32	.	.	PUNCT
framr-1725	54	1	many	many	ADJ
framr-1725	54	2	researchers	researcher	NOUN
framr-1725	54	3	have	have	AUX
framr-1725	54	4	come	come	VERB
framr-1725	54	5	up	up	ADP
framr-1725	54	6	with	with	ADP
framr-1725	54	7	different	different	ADJ
framr-1725	54	8	views	view	NOUN
framr-1725	54	9	as	as	ADP
framr-1725	54	10	to	to	ADP
framr-1725	54	11	how	how	SCONJ
framr-1725	54	12	these	these	DET
framr-1725	54	13	models	model	NOUN
framr-1725	54	14	forecast	forecast	VERB
framr-1725	54	15	volatility	volatility	NOUN
framr-1725	54	16	better	well	ADV
framr-1725	54	17	.	.	PUNCT
framr-1725	55	1	such	such	ADJ
framr-1725	55	2	model	model	NOUN
framr-1725	55	3	ranges	range	VERB
framr-1725	55	4	from	from	ADP
framr-1725	55	5	the	the	DET
framr-1725	55	6	naive	naive	ADJ
framr-1725	55	7	(	(	PUNCT
framr-1725	55	8	linear	linear	ADJ
framr-1725	55	9	models	model	NOUN
framr-1725	55	10	)	)	PUNCT
framr-1725	55	11	to	to	ADP
framr-1725	55	12	the	the	DET
framr-1725	55	13	more	more	ADV
framr-1725	55	14	sophisticated	sophisticated	ADJ
framr-1725	55	15	(	(	PUNCT
framr-1725	55	16	nonlinear	nonlinear	ADJ
framr-1725	55	17	)	)	PUNCT
framr-1725	55	18	models	model	NOUN
framr-1725	55	19	.	.	PUNCT
framr-1725	56	1	their	their	PRON
framr-1725	56	2	findings	finding	NOUN
framr-1725	56	3	are	be	AUX
framr-1725	56	4	,	,	PUNCT
framr-1725	56	5	however	however	ADV
framr-1725	56	6	by	by	ADP
framr-1725	56	7	no	no	DET
framr-1725	56	8	means	mean	NOUN
framr-1725	56	9	consistent	consistent	ADJ
framr-1725	56	10	,	,	PUNCT
framr-1725	56	11	as	as	SCONJ
framr-1725	56	12	their	their	PRON
framr-1725	56	13	end	end	NOUN
framr-1725	56	14	results	result	NOUN
framr-1725	56	15	differ	differ	VERB
framr-1725	56	16	even	even	ADV
framr-1725	56	17	when	when	SCONJ
framr-1725	56	18	the	the	DET
framr-1725	56	19	same	same	ADJ
framr-1725	56	20	indices	index	NOUN
framr-1725	56	21	and	and	CCONJ
framr-1725	56	22	sample	sample	NOUN
framr-1725	56	23	period	period	NOUN
framr-1725	56	24	are	be	AUX
framr-1725	56	25	considered	consider	VERB
framr-1725	56	26	.	.	PUNCT
framr-1725	57	1	this	this	PRON
framr-1725	57	2	can	can	AUX
framr-1725	57	3	be	be	AUX
framr-1725	57	4	attributed	attribute	VERB
framr-1725	57	5	to	to	ADP
framr-1725	57	6	the	the	DET
framr-1725	57	7	manner	manner	NOUN
framr-1725	57	8	in	in	ADP
framr-1725	57	9	which	which	PRON
framr-1725	57	10	the	the	DET
framr-1725	57	11	models	model	NOUN
framr-1725	57	12	were	be	AUX
framr-1725	57	13	evaluated	evaluate	VERB
framr-1725	57	14	and	and	CCONJ
framr-1725	57	15	the	the	DET
framr-1725	57	16	evaluation	evaluation	NOUN
framr-1725	57	17	criteria	criterion	NOUN
framr-1725	57	18	employed	employ	VERB
framr-1725	57	19	.	.	PUNCT
framr-1725	58	1	the	the	DET
framr-1725	58	2	review	review	NOUN
framr-1725	58	3	of	of	ADP
framr-1725	58	4	literature	literature	NOUN
framr-1725	58	5	tries	try	VERB
framr-1725	58	6	to	to	PART
framr-1725	58	7	bring	bring	VERB
framr-1725	58	8	different	different	ADJ
framr-1725	58	9	research	research	NOUN
framr-1725	58	10	findings	finding	NOUN
framr-1725	58	11	,	,	PUNCT
framr-1725	58	12	how	how	SCONJ
framr-1725	58	13	they	they	PRON
framr-1725	58	14	differ	differ	VERB
framr-1725	58	15	and	and	CCONJ
framr-1725	58	16	how	how	SCONJ
framr-1725	58	17	they	they	PRON
framr-1725	58	18	are	be	AUX
framr-1725	58	19	consistent	consistent	ADJ
framr-1725	58	20	with	with	ADP
framr-1725	58	21	one	one	NUM
framr-1725	58	22	another	another	DET
framr-1725	58	23	,	,	PUNCT
framr-1725	58	24	but	but	CCONJ
framr-1725	58	25	none	none	NOUN
framr-1725	58	26	of	of	ADP
framr-1725	58	27	the	the	DET
framr-1725	58	28	findings	finding	NOUN
framr-1725	58	29	gave	give	VERB
framr-1725	58	30	exact	exact	ADJ
framr-1725	58	31	results	result	NOUN
framr-1725	58	32	,	,	PUNCT
framr-1725	58	33	but	but	CCONJ
framr-1725	58	34	where	where	SCONJ
framr-1725	58	35	able	able	ADJ
framr-1725	58	36	to	to	PART
framr-1725	58	37	identify	identify	VERB
framr-1725	58	38	which	which	PRON
framr-1725	58	39	of	of	ADP
framr-1725	58	40	the	the	DET
framr-1725	58	41	models	model	NOUN
framr-1725	58	42	forecast	forecast	VERB
framr-1725	58	43	volatility	volatility	NOUN
framr-1725	58	44	better	well	ADV
framr-1725	58	45	(	(	PUNCT
framr-1725	58	46	see	see	VERB
framr-1725	58	47	for	for	ADP
framr-1725	58	48	example	example	NOUN
framr-1725	58	49	;	;	PUNCT
framr-1725	58	50	(	(	PUNCT
framr-1725	58	51	angelidis	angelidi	NOUN
framr-1725	58	52	et	et	NOUN
framr-1725	58	53	al	al	PROPN
framr-1725	58	54	.	.	PROPN
framr-1725	58	55	,	,	PUNCT
framr-1725	58	56	2003	2003	NUM
framr-1725	58	57	;	;	PUNCT
framr-1725	58	58	louis	louis	PROPN
framr-1725	58	59	and	and	CCONJ
framr-1725	58	60	guan	guan	PROPN
framr-1725	58	61	,	,	PUNCT
framr-1725	58	62	2004	2004	NUM
framr-1725	58	63	;	;	PUNCT
framr-1725	58	64	balaban	balaban	PROPN
framr-1725	58	65	and	and	CCONJ
framr-1725	58	66	bayar	bayar	PROPN
framr-1725	58	67	,	,	PUNCT
framr-1725	58	68	2005	2005	NUM
framr-1725	58	69	;	;	PUNCT
framr-1725	58	70	mats	mat	NOUN
framr-1725	58	71	and	and	CCONJ
framr-1725	58	72	viman	viman	NOUN
framr-1725	58	73	,	,	PUNCT
framr-1725	58	74	2005	2005	NUM
framr-1725	58	75	;	;	PUNCT
framr-1725	58	76	palmquist	palmquist	NOUN
framr-1725	58	77	and	and	CCONJ
framr-1725	58	78	viman	viman	NOUN
framr-1725	58	79	,	,	PUNCT
framr-1725	58	80	2005	2005	NUM
framr-1725	58	81	;	;	PUNCT
framr-1725	58	82	abdul	abdul	PROPN
framr-1725	58	83	and	and	CCONJ
framr-1725	58	84	shabbir	shabbir	PROPN
framr-1725	58	85	,	,	PUNCT
framr-1725	58	86	2008	2008	NUM
framr-1725	58	87	)	)	PUNCT
framr-1725	58	88	)	)	PUNCT
framr-1725	58	89	.	.	PUNCT
framr-1725	59	1	3	3	X
framr-1725	59	2	.	.	X
framr-1725	59	3	methodology	methodology	NOUN
framr-1725	59	4	3.1	3.1	NUM
framr-1725	59	5	.	.	PUNCT
framr-1725	60	1	data	datum	NOUN
framr-1725	60	2	set	set	VERB
framr-1725	60	3	and	and	CCONJ
framr-1725	60	4	sample	sample	NOUN
framr-1725	60	5	description	description	NOUN
framr-1725	60	6	.	.	PUNCT
framr-1725	61	1	this	this	DET
framr-1725	61	2	work	work	NOUN
framr-1725	61	3	uses	use	VERB
framr-1725	61	4	the	the	DET
framr-1725	61	5	daily	daily	ADJ
framr-1725	61	6	closing	closing	NOUN
framr-1725	61	7	prices	price	NOUN
framr-1725	61	8	of	of	ADP
framr-1725	61	9	three	three	NUM
framr-1725	61	10	stock	stock	NOUN
framr-1725	61	11	market	market	NOUN
framr-1725	61	12	indices	index	NOUN
framr-1725	61	13	from	from	ADP
framr-1725	61	14	3rd	3rd	PROPN
framr-1725	61	15	april	april	PROPN
framr-1725	61	16	1989	1989	NUM
framr-1725	61	17	to	to	ADP
framr-1725	61	18	7th	7th	ADJ
framr-1725	61	19	april	april	PROPN
framr-1725	61	20	2009	2009	NUM
framr-1725	61	21	.	.	PUNCT
framr-1725	62	1	the	the	DET
framr-1725	62	2	investigated	investigate	VERB
framr-1725	62	3	indices	index	NOUN
framr-1725	62	4	are	be	AUX
framr-1725	62	5	ftse	ftse	PROPN
framr-1725	62	6	100	100	NUM
framr-1725	62	7	index	index	NOUN
framr-1725	62	8	from	from	ADP
framr-1725	62	9	the	the	DET
framr-1725	62	10	uk	uk	PROPN
framr-1725	62	11	;	;	PUNCT
framr-1725	62	12	s&p	s&p	PROPN
framr-1725	62	13	500	500	NUM
framr-1725	62	14	index	index	NOUN
framr-1725	62	15	from	from	ADP
framr-1725	62	16	the	the	DET
framr-1725	62	17	usa	usa	PROPN
framr-1725	62	18	and	and	CCONJ
framr-1725	62	19	the	the	DET
framr-1725	62	20	nikkei	nikkei	PROPN
framr-1725	62	21	225	225	NUM
framr-1725	62	22	index	index	NOUN
framr-1725	62	23	from	from	ADP
framr-1725	62	24	japan	japan	PROPN
framr-1725	62	25	.	.	PUNCT
framr-1725	63	1	these	these	DET
framr-1725	63	2	indices	index	NOUN
framr-1725	63	3	have	have	VERB
framr-1725	63	4	a	a	DET
framr-1725	63	5	continuous	continuous	ADJ
framr-1725	63	6	sequence	sequence	NOUN
framr-1725	63	7	of	of	ADP
framr-1725	63	8	around	around	ADP
framr-1725	63	9	5034	5034	NUM
framr-1725	63	10	observations	observation	NOUN
framr-1725	63	11	,	,	PUNCT
framr-1725	63	12	excluding	exclude	VERB
framr-1725	63	13	the	the	DET
framr-1725	63	14	non	non	ADJ
framr-1725	63	15	-	-	ADJ
framr-1725	63	16	trading	trading	ADJ
framr-1725	63	17	days	day	NOUN
framr-1725	63	18	such	such	ADJ
framr-1725	63	19	as	as	ADP
framr-1725	63	20	weekends	weekend	NOUN
framr-1725	63	21	,	,	PUNCT
framr-1725	63	22	public	public	ADJ
framr-1725	63	23	holidays	holiday	NOUN
framr-1725	63	24	and	and	CCONJ
framr-1725	63	25	other	other	ADJ
framr-1725	63	26	exchange	exchange	NOUN
framr-1725	63	27	closure	closure	NOUN
framr-1725	63	28	days	day	NOUN
framr-1725	63	29	.	.	PUNCT
framr-1725	64	1	data	datum	NOUN
framr-1725	64	2	are	be	AUX
framr-1725	64	3	sourced	source	VERB
framr-1725	64	4	from	from	ADP
framr-1725	64	5	data	datum	NOUN
framr-1725	64	6	stream	stream	NOUN
framr-1725	64	7	.	.	PUNCT
framr-1725	65	1	the	the	DET
framr-1725	65	2	ftse	ftse	PROPN
framr-1725	65	3	100	100	NUM
framr-1725	65	4	index	index	NOUN
framr-1725	65	5	comprises	comprise	NOUN
framr-1725	65	6	of	of	ADP
framr-1725	65	7	100	100	NUM
framr-1725	65	8	large	large	ADJ
framr-1725	65	9	firms	firm	NOUN
framr-1725	65	10	registered	register	VERB
framr-1725	65	11	in	in	ADP
framr-1725	65	12	the	the	DET
framr-1725	65	13	uk	uk	PROPN
framr-1725	65	14	,	,	PUNCT
framr-1725	65	15	while	while	SCONJ
framr-1725	65	16	the	the	DET
framr-1725	65	17	s&p	s&p	PROPN
framr-1725	65	18	500	500	NUM
framr-1725	65	19	and	and	CCONJ
framr-1725	65	20	the	the	DET
framr-1725	65	21	nikkei	nikkei	NOUN
framr-1725	65	22	225	225	NUM
framr-1725	65	23	comprises	comprise	NOUN
framr-1725	65	24	of	of	ADP
framr-1725	65	25	500	500	NUM
framr-1725	65	26	top	top	ADJ
framr-1725	65	27	rated	rate	VERB
framr-1725	65	28	companies	company	NOUN
framr-1725	65	29	and	and	CCONJ
framr-1725	65	30	225	225	NUM
framr-1725	65	31	top	top	ADJ
framr-1725	65	32	rated	rate	VERB
framr-1725	65	33	companies	company	NOUN
framr-1725	65	34	,	,	PUNCT
framr-1725	65	35	respectively	respectively	ADV
framr-1725	65	36	.	.	PUNCT
framr-1725	66	1	the	the	DET
framr-1725	66	2	entire	entire	ADJ
framr-1725	66	3	sample	sample	NOUN
framr-1725	66	4	for	for	ADP
framr-1725	66	5	each	each	DET
framr-1725	66	6	index	index	NOUN
framr-1725	66	7	is	be	AUX
framr-1725	66	8	divided	divide	VERB
framr-1725	66	9	into	into	ADP
framr-1725	66	10	two	two	NUM
framr-1725	66	11	subsample	subsample	ADJ
framr-1725	66	12	periods	period	NOUN
framr-1725	66	13	,	,	PUNCT
framr-1725	66	14	with	with	ADP
framr-1725	66	15	each	each	PRON
framr-1725	66	16	representing	represent	VERB
framr-1725	66	17	a	a	DET
framr-1725	66	18	10	10	NUM
framr-1725	66	19	year	year	NOUN
framr-1725	66	20	period	period	NOUN
framr-1725	66	21	.	.	PUNCT
framr-1725	67	1	the	the	DET
framr-1725	67	2	first	first	ADJ
framr-1725	67	3	subsample	subsample	ADJ
framr-1725	67	4	period	period	NOUN
framr-1725	67	5	is	be	AUX
framr-1725	67	6	from	from	ADP
framr-1725	67	7	4th	4th	ADJ
framr-1725	67	8	april	april	PROPN
framr-1725	67	9	1989	1989	NUM
framr-1725	67	10	to	to	ADP
framr-1725	67	11	2nd	2nd	ADJ
framr-1725	67	12	april	april	PROPN
framr-1725	67	13	1999	1999	NUM
framr-1725	67	14	with	with	ADP
framr-1725	67	15	523	523	NUM
framr-1725	67	16	trading	trading	NOUN
framr-1725	67	17	weeks	week	NOUN
framr-1725	67	18	and	and	CCONJ
framr-1725	67	19	second	second	ADJ
framr-1725	67	20	subsample	subsample	NOUN
framr-1725	67	21	from	from	ADP
framr-1725	67	22	6th	6th	ADJ
framr-1725	67	23	april	april	PROPN
framr-1725	67	24	1999	1999	NUM
framr-1725	67	25	to	to	ADP
framr-1725	67	26	7th	7th	ADJ
framr-1725	67	27	april	april	PROPN
framr-1725	67	28	2009	2009	NUM
framr-1725	67	29	with	with	ADP
framr-1725	67	30	524	524	NUM
framr-1725	67	31	trading	trading	NOUN
framr-1725	67	32	weeks	week	NOUN
framr-1725	67	33	.	.	PUNCT
framr-1725	68	1	the	the	DET
framr-1725	68	2	daily	daily	ADJ
framr-1725	68	3	returns	return	NOUN
framr-1725	68	4	are	be	AUX
framr-1725	68	5	calculated	calculate	VERB
framr-1725	68	6	on	on	ADP
framr-1725	68	7	each	each	PRON
framr-1725	68	8	of	of	ADP
framr-1725	68	9	the	the	DET
framr-1725	68	10	subsample	subsample	ADJ
framr-1725	68	11	periods	period	NOUN
framr-1725	68	12	on	on	ADP
framr-1725	68	13	each	each	PRON
framr-1725	68	14	of	of	ADP
framr-1725	68	15	the	the	DET
framr-1725	68	16	three	three	NUM
framr-1725	68	17	indices	index	NOUN
framr-1725	68	18	mentioned	mention	VERB
framr-1725	68	19	earlier	early	ADV
framr-1725	68	20	.	.	PUNCT
framr-1725	69	1	this	this	PRON
framr-1725	69	2	is	be	AUX
framr-1725	69	3	done	do	VERB
framr-1725	69	4	by	by	ADP
framr-1725	69	5	applying	apply	VERB
framr-1725	69	6	the	the	DET
framr-1725	69	7	formula	formula	NOUN
framr-1725	69	8	represented	represent	VERB
framr-1725	69	9	below	below	ADV
framr-1725	69	10	as	as	ADP
framr-1725	69	11	thus	thus	ADV
framr-1725	69	12	;	;	PUNCT
framr-1725	69	13	3.1.1	3.1.1	NUM
framr-1725	69	14	where	where	SCONJ
framr-1725	69	15	rt	rt	PROPN
framr-1725	69	16	denotes	denote	VERB
framr-1725	69	17	daily	daily	PROPN
framr-1725	69	18	index	index	NOUN
framr-1725	69	19	returns	return	NOUN
framr-1725	69	20	,	,	PUNCT
framr-1725	69	21	pt	pt	PROPN
framr-1725	69	22	denotes	denote	NOUN
framr-1725	69	23	the	the	DET
framr-1725	69	24	closing	closing	NOUN
framr-1725	69	25	price	price	NOUN
framr-1725	69	26	of	of	ADP
framr-1725	69	27	the	the	DET
framr-1725	69	28	index	index	NOUN
framr-1725	69	29	at	at	ADP
framr-1725	69	30	time	time	NOUN
framr-1725	69	31	t	t	PROPN
framr-1725	69	32	and	and	CCONJ
framr-1725	69	33	pt-1	pt-1	ADV
framr-1725	69	34	refers	refer	VERB
framr-1725	69	35	to	to	ADP
framr-1725	69	36	the	the	DET
framr-1725	69	37	closing	closing	NOUN
framr-1725	69	38	index	index	NOUN
framr-1725	69	39	price	price	NOUN
framr-1725	69	40	at	at	ADP
framr-1725	69	41	time	time	NOUN
framr-1725	69	42	t-1	t-1	PROPN
framr-1725	69	43	.	.	PUNCT
framr-1725	70	1	the	the	DET
framr-1725	70	2	ln	ln	NOUN
framr-1725	70	3	represents	represent	VERB
framr-1725	70	4	the	the	DET
framr-1725	70	5	logarithm	logarithm	NOUN
framr-1725	70	6	of	of	ADP
framr-1725	70	7	the	the	DET
framr-1725	70	8	relative	relative	ADJ
framr-1725	70	9	price	price	NOUN
framr-1725	70	10	index	index	NOUN
framr-1725	70	11	.	.	PUNCT
framr-1725	71	1	the	the	DET
framr-1725	71	2	daily	daily	ADJ
framr-1725	71	3	returns	return	NOUN
framr-1725	71	4	calculated	calculate	VERB
framr-1725	71	5	are	be	AUX
framr-1725	71	6	then	then	ADV
framr-1725	71	7	divided	divide	VERB
framr-1725	71	8	by	by	ADP
framr-1725	71	9	the	the	DET
framr-1725	71	10	number	number	NOUN
framr-1725	71	11	of	of	ADP
framr-1725	71	12	trading	trading	NOUN
framr-1725	71	13	days	day	NOUN
framr-1725	71	14	in	in	ADP
framr-1725	71	15	a	a	DET
framr-1725	71	16	week	week	NOUN
framr-1725	71	17	,	,	PUNCT
framr-1725	71	18	with	with	ADP
framr-1725	71	19	holidays	holiday	NOUN
framr-1725	71	20	excluded	exclude	VERB
framr-1725	71	21	from	from	ADP
framr-1725	71	22	the	the	DET
framr-1725	71	23	calculation	calculation	NOUN
framr-1725	71	24	to	to	PART
framr-1725	71	25	obtain	obtain	VERB
framr-1725	71	26	the	the	DET
framr-1725	71	27	weekly	weekly	ADJ
framr-1725	71	28	return	return	NOUN
framr-1725	71	29	of	of	ADP
framr-1725	71	30	the	the	DET
framr-1725	71	31	various	various	ADJ
framr-1725	71	32	series	series	NOUN
framr-1725	71	33	.	.	PUNCT
framr-1725	72	1	3.2	3.2	NUM
framr-1725	72	2	.	.	PUNCT
framr-1725	72	3	arch	arch	ADJ
framr-1725	72	4	methodology	methodology	NOUN
framr-1725	72	5	3.2.1	3.2.1	NUM
framr-1725	72	6	.	.	PUNCT
framr-1725	73	1	testing	test	VERB
framr-1725	73	2	for	for	ADP
framr-1725	73	3	arch	arch	ADJ
framr-1725	73	4	effect	effect	NOUN
framr-1725	73	5	arch	arch	ADJ
framr-1725	73	6	(	(	PUNCT
framr-1725	73	7	autoregressive	autoregressive	ADJ
framr-1725	73	8	conditional	conditional	ADJ
framr-1725	73	9	heteroskedasticity	heteroskedasticity	NOUN
framr-1725	73	10	)	)	PUNCT
framr-1725	73	11	models	model	NOUN
framr-1725	73	12	are	be	AUX
framr-1725	73	13	designed	design	VERB
framr-1725	73	14	to	to	PART
framr-1725	73	15	model	model	VERB
framr-1725	73	16	and	and	CCONJ
framr-1725	73	17	forecast	forecast	VERB
framr-1725	73	18	conditional	conditional	ADJ
framr-1725	73	19	variance	variance	NOUN
framr-1725	73	20	.	.	PUNCT
framr-1725	74	1	an	an	DET
framr-1725	74	2	indication	indication	NOUN
framr-1725	74	3	of	of	ADP
framr-1725	74	4	arch	arch	NOUN
framr-1725	74	5	is	be	AUX
framr-1725	74	6	that	that	SCONJ
framr-1725	74	7	the	the	DET
framr-1725	74	8	residuals	residual	NOUN
framr-1725	74	9	will	will	AUX
framr-1725	74	10	be	be	AUX
framr-1725	74	11	uncorrelated	uncorrelate	VERB
framr-1725	74	12	,	,	PUNCT
framr-1725	74	13	but	but	CCONJ
framr-1725	74	14	the	the	DET
framr-1725	74	15	squared	square	VERB
framr-1725	74	16	residuals	residual	NOUN
framr-1725	74	17	will	will	AUX
framr-1725	74	18	show	show	VERB
framr-1725	74	19	autocorrelation	autocorrelation	NOUN
framr-1725	74	20	.	.	PUNCT
framr-1725	75	1	the	the	DET
framr-1725	75	2	later	later	ADV
framr-1725	75	3	is	be	AUX
framr-1725	75	4	once	once	ADV
framr-1725	75	5	again	again	ADV
framr-1725	75	6	tested	test	VERB
framr-1725	75	7	when	when	SCONJ
framr-1725	75	8	we	we	PRON
framr-1725	75	9	consider	consider	VERB
framr-1725	75	10	the	the	DET
framr-1725	75	11	autocorrelation	autocorrelation	NOUN
framr-1725	75	12	function	function	NOUN
framr-1725	75	13	(	(	PUNCT
framr-1725	75	14	acf	acf	PROPN
framr-1725	75	15	)	)	PUNCT
framr-1725	75	16	and	and	CCONJ
framr-1725	75	17	the	the	DET
framr-1725	75	18	partial	partial	ADJ
framr-1725	75	19	autocorrelation	autocorrelation	NOUN
framr-1725	75	20	(	(	PUNCT
framr-1725	75	21	pacf	pacf	NOUN
framr-1725	75	22	)	)	PUNCT
framr-1725	75	23	of	of	ADP
framr-1725	75	24	the	the	DET
framr-1725	75	25	squared	square	VERB
framr-1725	75	26	residuals	residual	NOUN
framr-1725	75	27	.	.	PUNCT
framr-1725	76	1	testing	test	VERB
framr-1725	76	2	for	for	ADP
framr-1725	76	3	arch	arch	ADJ
framr-1725	76	4	effects	effect	NOUN
framr-1725	76	5	requires	require	VERB
framr-1725	76	6	us	we	PRON
framr-1725	76	7	to	to	PART
framr-1725	76	8	test	test	VERB
framr-1725	76	9	for	for	ADP
framr-1725	76	10	a	a	DET
framr-1725	76	11	reasonable	reasonable	ADJ
framr-1725	76	12	test	test	NOUN
framr-1725	76	13	of	of	ADP
framr-1725	76	14	the	the	DET
framr-1725	76	15	null	null	ADJ
framr-1725	76	16	hypothesis	hypothesis	NOUN
framr-1725	76	17	of	of	ADP
framr-1725	76	18	conditional	conditional	ADJ
framr-1725	76	19	homoskedasticity	homoskedasticity	NOUN
framr-1725	76	20	,	,	PUNCT
framr-1725	76	21	against	against	ADP
framr-1725	76	22	the	the	DET
framr-1725	76	23	conditional	conditional	ADJ
framr-1725	76	24	heteroskedasticity	heteroskedasticity	NOUN
framr-1725	76	25	.	.	PUNCT
framr-1725	77	1	this	this	PRON
framr-1725	77	2	done	do	VERB
framr-1725	77	3	basically	basically	ADV
framr-1725	77	4	to	to	PART
framr-1725	77	5	make	make	VERB
framr-1725	77	6	sure	sure	ADJ
framr-1725	77	7	that	that	SCONJ
framr-1725	77	8	there	there	PRON
framr-1725	77	9	is	be	VERB
framr-1725	77	10	no	no	DET
framr-1725	77	11	heteroskedasticity	heteroskedasticity	NOUN
framr-1725	77	12	in	in	ADP
framr-1725	77	13	the	the	DET
framr-1725	77	14	arch	arch	ADJ
framr-1725	77	15	model	model	NOUN
framr-1725	77	16	being	be	AUX
framr-1725	77	17	estimated	estimate	VERB
framr-1725	77	18	.	.	PUNCT
framr-1725	78	1	we	we	PRON
framr-1725	78	2	therefore	therefore	ADV
framr-1725	78	3	need	need	VERB
framr-1725	78	4	to	to	PART
framr-1725	78	5	apply	apply	VERB
framr-1725	78	6	the	the	DET
framr-1725	78	7	lm	lm	ADJ
framr-1725	78	8	test	test	NOUN
framr-1725	78	9	(	(	PUNCT
framr-1725	78	10	lagrangian	lagrangian	ADJ
framr-1725	78	11	multiplier	multipli	ADJ
framr-1725	78	12	test	test	NOUN
framr-1725	78	13	)	)	PUNCT
framr-1725	78	14	,	,	PUNCT
framr-1725	78	15	using	use	VERB
framr-1725	78	16	the	the	DET
framr-1725	78	17	residual	residual	ADJ
framr-1725	78	18	series	series	NOUN
framr-1725	78	19	of	of	ADP
framr-1725	78	20	the	the	DET
framr-1725	78	21	model	model	NOUN
framr-1725	78	22	to	to	PART
framr-1725	78	23	test	test	VERB
framr-1725	78	24	for	for	ADP
framr-1725	78	25	arch	arch	ADJ
framr-1725	78	26	effects	effect	NOUN
framr-1725	78	27	.	.	PUNCT
framr-1725	79	1	according	accord	VERB
framr-1725	79	2	to	to	ADP
framr-1725	79	3	brooks	brooks	PROPN
framr-1725	79	4	(	(	PUNCT
framr-1725	79	5	2002	2002	NUM
framr-1725	79	6	)	)	PUNCT
framr-1725	79	7	the	the	DET
framr-1725	79	8	test	test	NOUN
framr-1725	79	9	is	be	AUX
framr-1725	79	10	one	one	NUM
framr-1725	79	11	of	of	ADP
framr-1725	79	12	a	a	DET
framr-1725	79	13	joint	joint	ADJ
framr-1725	79	14	hypothesis	hypothesis	NOUN
framr-1725	80	1	that	that	PRON
framr-1725	80	2	all	all	PRON
framr-1725	80	3	q	q	ADJ
framr-1725	80	4	lags	lag	NOUN
framr-1725	80	5	of	of	ADP
framr-1725	80	6	the	the	DET
framr-1725	80	7	squared	square	VERB
framr-1725	80	8	residuals	residual	NOUN
framr-1725	80	9	have	have	VERB
framr-1725	80	10	coefficient	coefficient	NOUN
framr-1725	80	11	values	value	NOUN
framr-1725	80	12	that	that	PRON
framr-1725	80	13	are	be	AUX
framr-1725	80	14	not	not	PART
framr-1725	80	15	significantly	significantly	ADV
framr-1725	80	16	different	different	ADJ
framr-1725	80	17	from	from	ADP
framr-1725	80	18	zero	zero	NUM
framr-1725	80	19	.	.	PUNCT
framr-1725	81	1	if	if	SCONJ
framr-1725	81	2	the	the	DET
framr-1725	81	3	value	value	NOUN
framr-1725	81	4	of	of	ADP
framr-1725	81	5	the	the	DET
framr-1725	81	6	test	test	NOUN
framr-1725	81	7	statistic	statistic	NOUN
framr-1725	81	8	is	be	AUX
framr-1725	81	9	greater	great	ADJ
framr-1725	81	10	than	than	ADP
framr-1725	81	11	the	the	DET
framr-1725	81	12	critical	critical	ADJ
framr-1725	81	13	value	value	NOUN
framr-1725	81	14	from	from	ADP
framr-1725	81	15	the	the	DET
framr-1725	81	16	distribution	distribution	NOUN
framr-1725	81	17	,	,	PUNCT
framr-1725	81	18	then	then	ADV
framr-1725	81	19	financial	financial	ADJ
framr-1725	81	20	risk	risk	NOUN
framr-1725	81	21	and	and	CCONJ
framr-1725	81	22	management	management	NOUN
framr-1725	81	23	reviews	review	NOUN
framr-1725	81	24	,	,	PUNCT
framr-1725	81	25	2018	2018	NUM
framr-1725	81	26	,	,	PUNCT
framr-1725	81	27	4(1	4(1	NOUN
framr-1725	81	28	):	):	PUNCT
framr-1725	81	29	1	1	NUM
framr-1725	81	30	-	-	SYM
framr-1725	81	31	23	23	NUM
framr-1725	81	32	4	4	NUM
framr-1725	81	33	©	©	PROPN
framr-1725	81	34	2018	2018	NUM
framr-1725	81	35	conscientia	conscientia	PROPN
framr-1725	81	36	beam	beam	PROPN
framr-1725	81	37	.	.	PUNCT
framr-1725	82	1	all	all	DET
framr-1725	82	2	rights	right	NOUN
framr-1725	82	3	reserved	reserve	VERB
framr-1725	82	4	.	.	PUNCT
framr-1725	83	1	we	we	PRON
framr-1725	83	2	reject	reject	VERB
framr-1725	83	3	the	the	DET
framr-1725	83	4	null	null	ADJ
framr-1725	83	5	hypothesis	hypothesis	NOUN
framr-1725	83	6	of	of	ADP
framr-1725	83	7	no	no	DET
framr-1725	83	8	arch	arch	ADJ
framr-1725	83	9	effects	effect	NOUN
framr-1725	83	10	and	and	CCONJ
framr-1725	83	11	conclude	conclude	VERB
framr-1725	83	12	that	that	SCONJ
framr-1725	83	13	there	there	PRON
framr-1725	83	14	is	be	VERB
framr-1725	83	15	a	a	DET
framr-1725	83	16	presence	presence	NOUN
framr-1725	83	17	of	of	ADP
framr-1725	83	18	arch	arch	ADJ
framr-1725	83	19	effect	effect	NOUN
framr-1725	83	20	.	.	PUNCT
framr-1725	84	1	the	the	DET
framr-1725	84	2	lag	lag	NOUN
framr-1725	84	3	to	to	PART
framr-1725	84	4	implement	implement	VERB
framr-1725	84	5	here	here	ADV
framr-1725	84	6	depends	depend	VERB
framr-1725	84	7	on	on	ADP
framr-1725	84	8	the	the	DET
framr-1725	84	9	preferences	preference	NOUN
framr-1725	84	10	of	of	ADP
framr-1725	84	11	the	the	DET
framr-1725	84	12	researcher	researcher	NOUN
framr-1725	84	13	.	.	PUNCT
framr-1725	85	1	3.2.2	3.2.2	NUM
framr-1725	85	2	.	.	PUNCT
framr-1725	86	1	arch	arch	NOUN
framr-1725	86	2	(	(	PUNCT
framr-1725	86	3	p	p	NOUN
framr-1725	86	4	)	)	PUNCT
framr-1725	86	5	model	model	NOUN
framr-1725	86	6	specification	specification	NOUN
framr-1725	86	7	arch	arch	VERB
framr-1725	86	8	the	the	DET
framr-1725	86	9	result	result	NOUN
framr-1725	86	10	of	of	ADP
framr-1725	86	11	the	the	DET
framr-1725	86	12	lags	lag	NOUN
framr-1725	86	13	that	that	PRON
framr-1725	86	14	proved	prove	VERB
framr-1725	86	15	no	no	DET
framr-1725	86	16	arch	arch	ADJ
framr-1725	86	17	effect	effect	NOUN
framr-1725	86	18	from	from	ADP
framr-1725	86	19	the	the	DET
framr-1725	86	20	above	above	ADJ
framr-1725	86	21	section	section	NOUN
framr-1725	86	22	is	be	AUX
framr-1725	86	23	employed	employ	VERB
framr-1725	86	24	to	to	PART
framr-1725	86	25	estimate	estimate	VERB
framr-1725	86	26	in	in	ADP
framr-1725	86	27	the	the	DET
framr-1725	86	28	order	order	NOUN
framr-1725	86	29	of	of	ADP
framr-1725	86	30	the	the	DET
framr-1725	86	31	arch	arch	ADJ
framr-1725	86	32	model	model	NOUN
framr-1725	86	33	to	to	PART
framr-1725	86	34	be	be	AUX
framr-1725	86	35	adopted	adopt	VERB
framr-1725	86	36	.	.	PUNCT
framr-1725	87	1	we	we	PRON
framr-1725	87	2	used	use	VERB
framr-1725	87	3	the	the	DET
framr-1725	87	4	pacf	pacf	NOUN
framr-1725	87	5	of	of	ADP
framr-1725	87	6	square	square	ADJ
framr-1725	87	7	residuals	residual	NOUN
framr-1725	87	8	to	to	PART
framr-1725	87	9	estimate	estimate	VERB
framr-1725	87	10	the	the	DET
framr-1725	87	11	order	order	NOUN
framr-1725	87	12	of	of	ADP
framr-1725	87	13	the	the	DET
framr-1725	87	14	arch	arch	NOUN
framr-1725	87	15	(	(	PUNCT
framr-1725	87	16	p	p	NOUN
framr-1725	87	17	)	)	PUNCT
framr-1725	87	18	model	model	NOUN
framr-1725	87	19	.	.	PUNCT
framr-1725	88	1	the	the	DET
framr-1725	88	2	form	form	NOUN
framr-1725	88	3	of	of	ADP
framr-1725	88	4	the	the	DET
framr-1725	88	5	ar	ar	PROPN
framr-1725	88	6	(	(	PUNCT
framr-1725	88	7	p	p	NOUN
framr-1725	88	8	)	)	PUNCT
framr-1725	88	9	model	model	NOUN
framr-1725	88	10	can	can	AUX
framr-1725	88	11	be	be	AUX
framr-1725	88	12	used	use	VERB
framr-1725	88	13	as	as	ADP
framr-1725	88	14	the	the	DET
framr-1725	88	15	mean	mean	ADJ
framr-1725	88	16	equation	equation	NOUN
framr-1725	88	17	for	for	ADP
framr-1725	88	18	the	the	DET
framr-1725	88	19	arch	arch	ADJ
framr-1725	88	20	type	type	NOUN
framr-1725	88	21	model	model	NOUN
framr-1725	88	22	.	.	PUNCT
framr-1725	89	1	other	other	ADJ
framr-1725	89	2	researchers	researcher	NOUN
framr-1725	89	3	claim	claim	VERB
framr-1725	89	4	that	that	SCONJ
framr-1725	89	5	the	the	DET
framr-1725	89	6	pacf	pacf	NOUN
framr-1725	89	7	of	of	ADP
framr-1725	89	8	the	the	DET
framr-1725	89	9	square	square	ADJ
framr-1725	89	10	residuals	residual	NOUN
framr-1725	89	11	can	can	AUX
framr-1725	89	12	be	be	AUX
framr-1725	89	13	useful	useful	ADJ
framr-1725	89	14	for	for	ADP
framr-1725	89	15	such	such	ADJ
framr-1725	89	16	applications	application	NOUN
framr-1725	89	17	.	.	PUNCT
framr-1725	90	1	the	the	DET
framr-1725	90	2	mean	mean	ADJ
framr-1725	90	3	equation	equation	NOUN
framr-1725	90	4	is	be	AUX
framr-1725	90	5	represented	represent	VERB
framr-1725	90	6	as	as	ADP
framr-1725	90	7	;	;	PUNCT
framr-1725	90	8	3.2.1	3.2.1	NUM
framr-1725	90	9	while	while	SCONJ
framr-1725	90	10	the	the	DET
framr-1725	90	11	conditional	conditional	ADJ
framr-1725	90	12	variance	variance	NOUN
framr-1725	90	13	is	be	AUX
framr-1725	90	14	represented	represent	VERB
framr-1725	90	15	as	as	ADP
framr-1725	90	16	;	;	PUNCT
framr-1725	90	17	3.2.2	3.2.2	NUM
framr-1725	90	18	garch	garch	NOUN
framr-1725	90	19	following	follow	VERB
framr-1725	90	20	lamoureux	lamoureux	PROPN
framr-1725	90	21	and	and	CCONJ
framr-1725	90	22	lastrapes	lastrape	NOUN
framr-1725	90	23	(	(	PUNCT
framr-1725	90	24	1990	1990	NUM
framr-1725	90	25	)	)	PUNCT
framr-1725	90	26	;	;	PUNCT
framr-1725	90	27	walsh	walsh	NOUN
framr-1725	90	28	and	and	CCONJ
framr-1725	90	29	tsou	tsou	PROPN
framr-1725	90	30	(	(	PUNCT
framr-1725	90	31	1998	1998	NUM
framr-1725	90	32	)	)	PUNCT
framr-1725	90	33	a	a	DET
framr-1725	90	34	simple	simple	ADJ
framr-1725	90	35	garch	garch	NOUN
framr-1725	90	36	(	(	PUNCT
framr-1725	90	37	1	1	NUM
framr-1725	90	38	1	1	NUM
framr-1725	90	39	)	)	PUNCT
framr-1725	90	40	will	will	AUX
framr-1725	90	41	be	be	AUX
framr-1725	90	42	employed	employ	VERB
framr-1725	90	43	and	and	CCONJ
framr-1725	90	44	thus	thus	ADV
framr-1725	90	45	there	there	PRON
framr-1725	90	46	is	be	VERB
framr-1725	90	47	no	no	DET
framr-1725	90	48	need	need	NOUN
framr-1725	90	49	to	to	PART
framr-1725	90	50	specify	specify	VERB
framr-1725	90	51	any	any	DET
framr-1725	90	52	higher	high	ADJ
framr-1725	90	53	order	order	NOUN
framr-1725	90	54	.	.	PUNCT
framr-1725	91	1	egarch	egarch	VERB
framr-1725	91	2	the	the	DET
framr-1725	91	3	same	same	ADJ
framr-1725	91	4	principle	principle	NOUN
framr-1725	91	5	is	be	AUX
framr-1725	91	6	applied	apply	VERB
framr-1725	91	7	here	here	ADV
framr-1725	91	8	as	as	ADP
framr-1725	91	9	above	above	ADV
framr-1725	91	10	and	and	CCONJ
framr-1725	91	11	this	this	PRON
framr-1725	91	12	is	be	AUX
framr-1725	91	13	done	do	VERB
framr-1725	91	14	following	follow	VERB
framr-1725	91	15	engle	engle	PROPN
framr-1725	91	16	and	and	CCONJ
framr-1725	91	17	ng	ng	PROPN
framr-1725	91	18	(	(	PUNCT
framr-1725	91	19	1993	1993	NUM
framr-1725	91	20	)	)	PUNCT
framr-1725	91	21	and	and	CCONJ
framr-1725	91	22	brooks	brooks	PROPN
framr-1725	91	23	(	(	PUNCT
framr-1725	91	24	2002	2002	NUM
framr-1725	91	25	)	)	PUNCT
framr-1725	91	26	and	and	CCONJ
framr-1725	91	27	thus	thus	ADV
framr-1725	91	28	simple	simple	ADJ
framr-1725	91	29	egarch	egarch	NOUN
framr-1725	91	30	(	(	PUNCT
framr-1725	91	31	1	1	NUM
framr-1725	91	32	1	1	NUM
framr-1725	91	33	)	)	PUNCT
framr-1725	91	34	is	be	AUX
framr-1725	91	35	employed	employ	VERB
framr-1725	91	36	.	.	PUNCT
framr-1725	92	1	3.2.3	3.2.3	X
framr-1725	92	2	.	.	PUNCT
framr-1725	92	3	arch	arch	ADJ
framr-1725	92	4	-	-	PUNCT
framr-1725	92	5	type	type	NOUN
framr-1725	92	6	model	model	NOUN
framr-1725	92	7	estimation	estimation	NOUN
framr-1725	92	8	.	.	PUNCT
framr-1725	93	1	the	the	DET
framr-1725	93	2	r	r	NOUN
framr-1725	93	3	square	square	NOUN
framr-1725	93	4	and	and	CCONJ
framr-1725	93	5	the	the	DET
framr-1725	93	6	f	f	PROPN
framr-1725	93	7	statistics	statistic	NOUN
framr-1725	93	8	are	be	AUX
framr-1725	93	9	evaluated	evaluate	VERB
framr-1725	93	10	so	so	SCONJ
framr-1725	93	11	as	as	SCONJ
framr-1725	93	12	to	to	PART
framr-1725	93	13	identify	identify	VERB
framr-1725	93	14	their	their	PRON
framr-1725	93	15	importance	importance	NOUN
framr-1725	93	16	and	and	CCONJ
framr-1725	93	17	significance	significance	NOUN
framr-1725	93	18	in	in	ADP
framr-1725	93	19	the	the	DET
framr-1725	93	20	arch	arch	ADJ
framr-1725	93	21	model	model	NOUN
framr-1725	93	22	.	.	PUNCT
framr-1725	94	1	in	in	ADP
framr-1725	94	2	this	this	DET
framr-1725	94	3	particular	particular	ADJ
framr-1725	94	4	case	case	NOUN
framr-1725	94	5	,	,	PUNCT
framr-1725	94	6	we	we	PRON
framr-1725	94	7	consider	consider	VERB
framr-1725	94	8	the	the	DET
framr-1725	94	9	mean	mean	ADJ
framr-1725	94	10	equation	equation	NOUN
framr-1725	94	11	only	only	ADV
framr-1725	94	12	rather	rather	ADV
framr-1725	94	13	than	than	ADP
framr-1725	94	14	the	the	DET
framr-1725	94	15	model	model	NOUN
framr-1725	94	16	as	as	ADP
framr-1725	94	17	a	a	DET
framr-1725	94	18	whole	whole	NOUN
framr-1725	94	19	.	.	PUNCT
framr-1725	95	1	the	the	DET
framr-1725	95	2	r	r	NOUN
framr-1725	95	3	square	square	NOUN
framr-1725	95	4	most	most	ADJ
framr-1725	95	5	of	of	ADP
framr-1725	95	6	the	the	DET
framr-1725	95	7	time	time	NOUN
framr-1725	95	8	is	be	AUX
framr-1725	95	9	meaningless	meaningless	ADJ
framr-1725	95	10	and	and	CCONJ
framr-1725	95	11	they	they	PRON
framr-1725	95	12	contribute	contribute	VERB
framr-1725	95	13	nothing	nothing	PRON
framr-1725	95	14	to	to	ADP
framr-1725	95	15	the	the	DET
framr-1725	95	16	estimation	estimation	NOUN
framr-1725	95	17	process	process	NOUN
framr-1725	95	18	.	.	PUNCT
framr-1725	96	1	r	r	NOUN
framr-1725	96	2	square	square	NOUN
framr-1725	96	3	sometimes	sometimes	ADV
framr-1725	96	4	is	be	AUX
framr-1725	96	5	negative	negative	ADJ
framr-1725	96	6	in	in	ADP
framr-1725	96	7	value	value	NOUN
framr-1725	96	8	and	and	CCONJ
framr-1725	96	9	such	such	DET
framr-1725	96	10	a	a	DET
framr-1725	96	11	value	value	NOUN
framr-1725	96	12	is	be	AUX
framr-1725	96	13	irrelevant	irrelevant	ADJ
framr-1725	96	14	.	.	PUNCT
framr-1725	97	1	this	this	PRON
framr-1725	97	2	is	be	AUX
framr-1725	97	3	obvious	obvious	ADJ
framr-1725	97	4	when	when	SCONJ
framr-1725	97	5	the	the	DET
framr-1725	97	6	residual	residual	ADJ
framr-1725	97	7	sum	sum	NOUN
framr-1725	97	8	of	of	ADP
framr-1725	97	9	squares	square	NOUN
framr-1725	97	10	is	be	AUX
framr-1725	97	11	greater	great	ADJ
framr-1725	97	12	than	than	ADP
framr-1725	97	13	the	the	DET
framr-1725	97	14	sum	sum	NOUN
framr-1725	97	15	of	of	ADP
framr-1725	97	16	square	square	ADJ
framr-1725	97	17	residual	residual	ADJ
framr-1725	97	18	in	in	ADP
framr-1725	97	19	the	the	DET
framr-1725	97	20	model	model	NOUN
framr-1725	97	21	.	.	PUNCT
framr-1725	98	1	the	the	DET
framr-1725	98	2	r	r	NOUN
framr-1725	98	3	square	square	NOUN
framr-1725	98	4	and	and	CCONJ
framr-1725	98	5	the	the	DET
framr-1725	98	6	f	f	PROPN
framr-1725	98	7	statistics	statistic	NOUN
framr-1725	98	8	are	be	AUX
framr-1725	98	9	meaningful	meaningful	ADJ
framr-1725	98	10	for	for	ADP
framr-1725	98	11	ols	ol	NOUN
framr-1725	98	12	models	model	NOUN
framr-1725	98	13	but	but	CCONJ
framr-1725	98	14	meaningless	meaningless	ADJ
framr-1725	98	15	for	for	ADP
framr-1725	98	16	the	the	DET
framr-1725	98	17	arch	arch	ADJ
framr-1725	98	18	models	model	NOUN
framr-1725	98	19	.	.	PUNCT
framr-1725	99	1	3.2.4	3.2.4	X
framr-1725	99	2	.	.	PUNCT
framr-1725	99	3	diagnostic	diagnostic	ADJ
framr-1725	99	4	check	check	NOUN
framr-1725	99	5	arch	arch	VERB
framr-1725	99	6	the	the	DET
framr-1725	99	7	stationarity	stationarity	NOUN
framr-1725	99	8	condition	condition	NOUN
framr-1725	99	9	for	for	ADP
framr-1725	99	10	arch	arch	ADJ
framr-1725	99	11	models	model	NOUN
framr-1725	99	12	is	be	AUX
framr-1725	99	13	checked	check	VERB
framr-1725	99	14	here	here	ADV
framr-1725	99	15	for	for	ADP
framr-1725	99	16	the	the	DET
framr-1725	99	17	non	non	ADJ
framr-1725	99	18	-	-	ADJ
framr-1725	99	19	negativity	negativity	ADJ
framr-1725	99	20	constraints	constraint	NOUN
framr-1725	99	21	and	and	CCONJ
framr-1725	99	22	the	the	DET
framr-1725	99	23	finite	finite	ADJ
framr-1725	99	24	unconditional	unconditional	ADJ
framr-1725	99	25	variance	variance	NOUN
framr-1725	99	26	.	.	PUNCT
framr-1725	100	1	the	the	DET
framr-1725	100	2	alpha	alpha	ADJ
framr-1725	100	3	coefficients	coefficient	NOUN
framr-1725	100	4	are	be	AUX
framr-1725	100	5	summed	sum	VERB
framr-1725	100	6	to	to	PART
framr-1725	100	7	ensure	ensure	VERB
framr-1725	100	8	they	they	PRON
framr-1725	100	9	sum	sum	VERB
framr-1725	100	10	to	to	ADP
framr-1725	100	11	less	less	ADJ
framr-1725	100	12	than	than	ADP
framr-1725	100	13	one	one	NUM
framr-1725	100	14	and	and	CCONJ
framr-1725	100	15	this	this	PRON
framr-1725	100	16	implies	imply	VERB
framr-1725	100	17	the	the	DET
framr-1725	100	18	non	non	ADJ
framr-1725	100	19	-	-	ADJ
framr-1725	100	20	breach	breach	NOUN
framr-1725	100	21	of	of	ADP
framr-1725	100	22	the	the	DET
framr-1725	100	23	stationarity	stationarity	NOUN
framr-1725	100	24	condition	condition	NOUN
framr-1725	100	25	of	of	ADP
framr-1725	100	26	the	the	DET
framr-1725	100	27	arch	arch	NOUN
framr-1725	100	28	(	(	PUNCT
framr-1725	100	29	p	p	NOUN
framr-1725	100	30	)	)	PUNCT
framr-1725	100	31	model	model	NOUN
framr-1725	100	32	.	.	PUNCT
framr-1725	101	1	garch	garch	NOUN
framr-1725	101	2	we	we	PRON
framr-1725	101	3	also	also	ADV
framr-1725	101	4	checked	check	VERB
framr-1725	101	5	for	for	ADP
framr-1725	101	6	the	the	DET
framr-1725	101	7	restrictions	restriction	NOUN
framr-1725	101	8	of	of	ADP
framr-1725	101	9	the	the	DET
framr-1725	101	10	non	non	ADJ
framr-1725	101	11	negativity	negativity	NOUN
framr-1725	101	12	constraint	constraint	NOUN
framr-1725	101	13	as	as	SCONJ
framr-1725	101	14	this	this	PRON
framr-1725	101	15	determine	determine	NOUN
framr-1725	101	16	the	the	DET
framr-1725	101	17	stationarity	stationarity	NOUN
framr-1725	101	18	of	of	ADP
framr-1725	101	19	the	the	DET
framr-1725	101	20	garch	garch	NOUN
framr-1725	101	21	model	model	NOUN
framr-1725	101	22	.	.	PUNCT
framr-1725	102	1	the	the	DET
framr-1725	102	2	restrictions	restriction	NOUN
framr-1725	102	3	most	most	ADJ
framr-1725	102	4	of	of	ADP
framr-1725	102	5	the	the	DET
framr-1725	102	6	time	time	NOUN
framr-1725	102	7	are	be	AUX
framr-1725	102	8	satisfied	satisfied	ADJ
framr-1725	102	9	but	but	CCONJ
framr-1725	102	10	this	this	PRON
framr-1725	102	11	is	be	AUX
framr-1725	102	12	checked	check	VERB
framr-1725	102	13	for	for	ADP
framr-1725	102	14	our	our	PRON
framr-1725	102	15	model	model	NOUN
framr-1725	102	16	specified	specify	VERB
framr-1725	102	17	in	in	ADP
framr-1725	102	18	the	the	DET
framr-1725	102	19	above	above	ADJ
framr-1725	102	20	section	section	NOUN
framr-1725	102	21	.	.	PUNCT
framr-1725	103	1	serial	serial	ADJ
framr-1725	103	2	correlation	correlation	NOUN
framr-1725	103	3	in	in	ADP
framr-1725	103	4	standardised	standardised	ADJ
framr-1725	103	5	residuals	residual	NOUN
framr-1725	103	6	we	we	PRON
framr-1725	103	7	checked	check	VERB
framr-1725	103	8	whether	whether	SCONJ
framr-1725	103	9	the	the	DET
framr-1725	103	10	serial	serial	ADJ
framr-1725	103	11	correlation	correlation	NOUN
framr-1725	103	12	present	present	ADJ
framr-1725	103	13	in	in	ADP
framr-1725	103	14	the	the	DET
framr-1725	103	15	autoregressive	autoregressive	ADJ
framr-1725	103	16	model	model	NOUN
framr-1725	103	17	are	be	AUX
framr-1725	103	18	removed	remove	VERB
framr-1725	103	19	and	and	CCONJ
framr-1725	103	20	are	be	AUX
framr-1725	103	21	also	also	ADV
framr-1725	103	22	not	not	PART
framr-1725	103	23	present	present	ADJ
framr-1725	103	24	in	in	ADP
framr-1725	103	25	the	the	DET
framr-1725	103	26	arch	arch	ADJ
framr-1725	103	27	type	type	NOUN
framr-1725	103	28	models	model	NOUN
framr-1725	103	29	.	.	PUNCT
framr-1725	104	1	this	this	PRON
framr-1725	104	2	is	be	AUX
framr-1725	104	3	achieved	achieve	VERB
framr-1725	104	4	when	when	SCONJ
framr-1725	104	5	we	we	PRON
framr-1725	104	6	tested	test	VERB
framr-1725	104	7	using	use	VERB
framr-1725	104	8	the	the	DET
framr-1725	104	9	arch	arch	NOUN
framr-1725	104	10	lm	lm	PROPN
framr-1725	104	11	test	test	NOUN
framr-1725	104	12	.	.	PUNCT
framr-1725	105	1	financial	financial	ADJ
framr-1725	105	2	risk	risk	NOUN
framr-1725	105	3	and	and	CCONJ
framr-1725	105	4	management	management	NOUN
framr-1725	105	5	reviews	review	NOUN
framr-1725	105	6	,	,	PUNCT
framr-1725	105	7	2018	2018	NUM
framr-1725	105	8	,	,	PUNCT
framr-1725	105	9	4(1	4(1	NOUN
framr-1725	105	10	):	):	PUNCT
framr-1725	105	11	1	1	NUM
framr-1725	105	12	-	-	SYM
framr-1725	105	13	23	23	NUM
framr-1725	105	14	5	5	NUM
framr-1725	105	15	©	©	PROPN
framr-1725	105	16	2018	2018	NUM
framr-1725	105	17	conscientia	conscientia	PROPN
framr-1725	105	18	beam	beam	PROPN
framr-1725	105	19	.	.	PUNCT
framr-1725	106	1	all	all	DET
framr-1725	106	2	rights	right	NOUN
framr-1725	106	3	reserved	reserve	VERB
framr-1725	106	4	.	.	PUNCT
framr-1725	107	1	3.3	3.3	NUM
framr-1725	107	2	.	.	PUNCT
framr-1725	108	1	forecasting	forecast	VERB
framr-1725	108	2	the	the	DET
framr-1725	108	3	study	study	NOUN
framr-1725	108	4	focuses	focus	VERB
framr-1725	108	5	on	on	ADP
framr-1725	108	6	performing	perform	VERB
framr-1725	108	7	out	out	ADP
framr-1725	108	8	of	of	ADP
framr-1725	108	9	sample	sample	NOUN
framr-1725	108	10	weekly	weekly	ADJ
framr-1725	108	11	volatility	volatility	NOUN
framr-1725	108	12	forecasting	forecasting	NOUN
framr-1725	108	13	and	and	CCONJ
framr-1725	108	14	each	each	DET
framr-1725	108	15	sample	sample	NOUN
framr-1725	108	16	is	be	AUX
framr-1725	108	17	split	split	VERB
framr-1725	108	18	into	into	ADP
framr-1725	108	19	two	two	NUM
framr-1725	108	20	sub	sub	NOUN
framr-1725	108	21	samples	sample	NOUN
framr-1725	108	22	.	.	PUNCT
framr-1725	109	1	this	this	DET
framr-1725	109	2	work	work	NOUN
framr-1725	109	3	is	be	AUX
framr-1725	109	4	consistent	consistent	ADJ
framr-1725	109	5	with	with	ADP
framr-1725	109	6	those	those	PRON
framr-1725	109	7	of	of	ADP
framr-1725	109	8	figlewski	figlewski	NOUN
framr-1725	109	9	et	et	PROPN
framr-1725	109	10	al	al	PROPN
framr-1725	109	11	.	.	PROPN
framr-1725	110	1	(	(	PUNCT
framr-1725	110	2	1993	1993	NUM
framr-1725	110	3	)	)	PUNCT
framr-1725	110	4	studied	study	VERB
framr-1725	110	5	the	the	DET
framr-1725	110	6	weekly	weekly	ADJ
framr-1725	110	7	return	return	NOUN
framr-1725	110	8	of	of	ADP
framr-1725	110	9	various	various	ADJ
framr-1725	110	10	return	return	NOUN
framr-1725	110	11	series	series	NOUN
framr-1725	110	12	using	use	VERB
framr-1725	110	13	the	the	DET
framr-1725	110	14	linear	linear	ADJ
framr-1725	110	15	and	and	CCONJ
framr-1725	110	16	non	non	ADJ
framr-1725	110	17	linear	linear	PROPN
framr-1725	110	18	models	model	NOUN
framr-1725	110	19	.	.	PUNCT
framr-1725	111	1	their	their	PRON
framr-1725	111	2	result	result	NOUN
framr-1725	111	3	proved	prove	VERB
framr-1725	111	4	that	that	SCONJ
framr-1725	111	5	the	the	DET
framr-1725	111	6	egarch	egarch	NOUN
framr-1725	111	7	model	model	NOUN
framr-1725	111	8	outperformed	outperform	VERB
framr-1725	111	9	other	other	ADJ
framr-1725	111	10	models	model	NOUN
framr-1725	111	11	when	when	SCONJ
framr-1725	111	12	evaluated	evaluate	VERB
framr-1725	111	13	.	.	PUNCT
framr-1725	112	1	there	there	PRON
framr-1725	112	2	are	be	VERB
framr-1725	112	3	basically	basically	ADV
framr-1725	112	4	two	two	NUM
framr-1725	112	5	types	type	NOUN
framr-1725	112	6	of	of	ADP
framr-1725	112	7	forecasting	forecasting	NOUN
framr-1725	112	8	,	,	PUNCT
framr-1725	112	9	the	the	DET
framr-1725	112	10	static	static	ADJ
framr-1725	112	11	and	and	CCONJ
framr-1725	112	12	dynamic	dynamic	ADJ
framr-1725	112	13	forecasting	forecasting	NOUN
framr-1725	112	14	.	.	PUNCT
framr-1725	113	1	these	these	DET
framr-1725	113	2	forecasting	forecasting	NOUN
framr-1725	113	3	types	type	NOUN
framr-1725	113	4	have	have	VERB
framr-1725	113	5	two	two	NUM
framr-1725	113	6	implications	implication	NOUN
framr-1725	113	7	,	,	PUNCT
framr-1725	113	8	the	the	DET
framr-1725	113	9	dynamic	dynamic	ADJ
framr-1725	113	10	forecasting	forecasting	NOUN
framr-1725	113	11	sets	set	VERB
framr-1725	113	12	subsequent	subsequent	ADJ
framr-1725	113	13	innovations	innovation	NOUN
framr-1725	113	14	to	to	ADP
framr-1725	113	15	zero	zero	NUM
framr-1725	113	16	,	,	PUNCT
framr-1725	113	17	while	while	SCONJ
framr-1725	113	18	the	the	DET
framr-1725	113	19	static	static	ADJ
framr-1725	113	20	forecasting	forecasting	NOUN
framr-1725	113	21	extends	extend	VERB
framr-1725	113	22	the	the	DET
framr-1725	113	23	forward	forward	ADJ
framr-1725	113	24	recursion	recursion	NOUN
framr-1725	113	25	through	through	ADP
framr-1725	113	26	the	the	DET
framr-1725	113	27	end	end	NOUN
framr-1725	113	28	of	of	ADP
framr-1725	113	29	the	the	DET
framr-1725	113	30	estimation	estimation	NOUN
framr-1725	113	31	sample	sample	NOUN
framr-1725	113	32	,	,	PUNCT
framr-1725	113	33	allowing	allow	VERB
framr-1725	113	34	for	for	ADP
framr-1725	113	35	a	a	DET
framr-1725	113	36	series	series	NOUN
framr-1725	113	37	of	of	ADP
framr-1725	113	38	one	one	NUM
framr-1725	113	39	step	step	NOUN
framr-1725	113	40	ahead	ahead	ADV
framr-1725	113	41	forecasts	forecast	NOUN
framr-1725	113	42	of	of	ADP
framr-1725	113	43	both	both	DET
framr-1725	113	44	structural	structural	ADJ
framr-1725	113	45	model	model	NOUN
framr-1725	113	46	and	and	CCONJ
framr-1725	113	47	the	the	DET
framr-1725	113	48	innovation	innovation	NOUN
framr-1725	113	49	.	.	PUNCT
framr-1725	114	1	for	for	ADP
framr-1725	114	2	simplicity	simplicity	NOUN
framr-1725	114	3	,	,	PUNCT
framr-1725	114	4	we	we	PRON
framr-1725	114	5	will	will	AUX
framr-1725	114	6	thus	thus	ADV
framr-1725	114	7	look	look	VERB
framr-1725	114	8	at	at	ADP
framr-1725	114	9	dynamic	dynamic	ADJ
framr-1725	114	10	forecasting	forecasting	NOUN
framr-1725	114	11	generated	generate	VERB
framr-1725	114	12	in	in	ADP
framr-1725	114	13	eviews	eview	NOUN
framr-1725	114	14	.	.	PUNCT
framr-1725	115	1	3.3.1	3.3.1	X
framr-1725	115	2	.	.	PUNCT
framr-1725	115	3	dynamic	dynamic	ADJ
framr-1725	115	4	forecasting	forecasting	NOUN
framr-1725	115	5	according	accord	VERB
framr-1725	115	6	to	to	ADP
framr-1725	115	7	tsay	tsay	PROPN
framr-1725	115	8	(	(	PUNCT
framr-1725	115	9	2005	2005	NUM
framr-1725	115	10	)	)	PUNCT
framr-1725	115	11	the	the	DET
framr-1725	115	12	arch	arch	ADJ
framr-1725	115	13	model	model	NOUN
framr-1725	115	14	,	,	PUNCT
framr-1725	115	15	the	the	DET
framr-1725	115	16	one	one	NUM
framr-1725	115	17	step	step	NOUN
framr-1725	115	18	ahead	ahead	ADV
framr-1725	115	19	forecast	forecast	NOUN
framr-1725	115	20	of	of	ADP
framr-1725	115	21	is	be	AUX
framr-1725	115	22	=	=	PUNCT
framr-1725	115	23	3.3.1	3.3.1	NUM
framr-1725	115	24	the	the	DET
framr-1725	115	25	m	m	NOUN
framr-1725	115	26	-	-	PUNCT
framr-1725	115	27	step	step	NOUN
framr-1725	115	28	ahead	ahead	ADV
framr-1725	115	29	forecast	forecast	NOUN
framr-1725	115	30	for	for	ADP
framr-1725	115	31	is	be	AUX
framr-1725	115	32	3.3.2	3.3.2	NUM
framr-1725	115	33	where	where	SCONJ
framr-1725	115	34	if	if	SCONJ
framr-1725	115	35	3.3.2	3.3.2	NUM
framr-1725	115	36	.	.	PUNCT
framr-1725	116	1	out	out	ADP
framr-1725	116	2	of	of	ADP
framr-1725	116	3	sample	sample	NOUN
framr-1725	116	4	forecast	forecast	NOUN
framr-1725	116	5	forecasting	forecasting	NOUN
framr-1725	116	6	is	be	AUX
framr-1725	116	7	a	a	DET
framr-1725	116	8	very	very	ADV
framr-1725	116	9	important	important	ADJ
framr-1725	116	10	aspect	aspect	NOUN
framr-1725	116	11	in	in	ADP
framr-1725	116	12	finance	finance	NOUN
framr-1725	116	13	as	as	SCONJ
framr-1725	116	14	it	it	PRON
framr-1725	116	15	helps	help	VERB
framr-1725	116	16	researchers	researcher	NOUN
framr-1725	116	17	and	and	CCONJ
framr-1725	116	18	derivative	derivative	ADJ
framr-1725	116	19	traders	trader	NOUN
framr-1725	116	20	in	in	ADP
framr-1725	116	21	determining	determine	VERB
framr-1725	116	22	the	the	DET
framr-1725	116	23	risk	risk	NOUN
framr-1725	116	24	in	in	ADP
framr-1725	116	25	portfolio	portfolio	NOUN
framr-1725	116	26	management	management	NOUN
framr-1725	116	27	.	.	PUNCT
framr-1725	117	1	in	in	ADP
framr-1725	117	2	-	-	PUNCT
framr-1725	117	3	sample	sample	NOUN
framr-1725	117	4	forecasting	forecasting	NOUN
framr-1725	117	5	,	,	PUNCT
framr-1725	117	6	is	be	AUX
framr-1725	117	7	based	base	VERB
framr-1725	117	8	on	on	ADP
framr-1725	117	9	parameter	parameter	NOUN
framr-1725	117	10	estimated	estimate	VERB
framr-1725	117	11	using	use	VERB
framr-1725	117	12	all	all	DET
framr-1725	117	13	data	datum	NOUN
framr-1725	117	14	in	in	ADP
framr-1725	117	15	the	the	DET
framr-1725	117	16	sample	sample	NOUN
framr-1725	117	17	,	,	PUNCT
framr-1725	117	18	and	and	CCONJ
framr-1725	117	19	it	it	PRON
framr-1725	117	20	implicitly	implicitly	ADV
framr-1725	117	21	assumes	assume	VERB
framr-1725	117	22	parameter	parameter	NOUN
framr-1725	117	23	estimates	estimate	NOUN
framr-1725	117	24	are	be	AUX
framr-1725	117	25	stable	stable	ADJ
framr-1725	117	26	across	across	ADP
framr-1725	117	27	time	time	NOUN
framr-1725	117	28	.	.	PUNCT
framr-1725	118	1	in	in	ADP
framr-1725	118	2	practice	practice	NOUN
framr-1725	118	3	,	,	PUNCT
framr-1725	118	4	time	time	NOUN
framr-1725	118	5	variation	variation	NOUN
framr-1725	118	6	is	be	AUX
framr-1725	118	7	a	a	DET
framr-1725	118	8	critical	critical	ADJ
framr-1725	118	9	issue	issue	NOUN
framr-1725	118	10	in	in	ADP
framr-1725	118	11	forecasting	forecasting	NOUN
framr-1725	118	12	(	(	PUNCT
framr-1725	118	13	poon	poon	NOUN
framr-1725	118	14	,	,	PUNCT
framr-1725	118	15	2005	2005	NUM
framr-1725	118	16	)	)	PUNCT
framr-1725	118	17	.	.	PUNCT
framr-1725	119	1	the	the	DET
framr-1725	119	2	in	in	ADP
framr-1725	119	3	sample	sample	NOUN
framr-1725	119	4	forecasting	forecasting	NOUN
framr-1725	119	5	was	be	AUX
framr-1725	119	6	done	do	VERB
framr-1725	119	7	using	use	VERB
framr-1725	119	8	the	the	DET
framr-1725	119	9	first	first	ADJ
framr-1725	119	10	261	261	NUM
framr-1725	119	11	weeks	week	NOUN
framr-1725	119	12	to	to	PART
framr-1725	119	13	forecast	forecast	VERB
framr-1725	119	14	volatility	volatility	NOUN
framr-1725	119	15	of	of	ADP
framr-1725	119	16	the	the	DET
framr-1725	119	17	model	model	NOUN
framr-1725	119	18	.	.	PUNCT
framr-1725	120	1	for	for	ADP
framr-1725	120	2	the	the	DET
framr-1725	120	3	entire	entire	ADJ
framr-1725	120	4	indices	index	NOUN
framr-1725	120	5	,	,	PUNCT
framr-1725	120	6	the	the	DET
framr-1725	120	7	first	first	ADJ
framr-1725	120	8	subsample	subsample	NOUN
framr-1725	120	9	was	be	AUX
framr-1725	120	10	forecasted	forecast	VERB
framr-1725	120	11	using	use	VERB
framr-1725	120	12	the	the	DET
framr-1725	120	13	sample	sample	NOUN
framr-1725	120	14	period	period	NOUN
framr-1725	120	15	from	from	ADP
framr-1725	120	16	1st	1st	ADJ
framr-1725	120	17	april	april	PROPN
framr-1725	120	18	1994	1994	NUM
framr-1725	120	19	to	to	ADP
framr-1725	120	20	1st	1st	PROPN
framr-1725	120	21	april	april	PROPN
framr-1725	120	22	to	to	ADP
framr-1725	120	23	1999	1999	NUM
framr-1725	120	24	,	,	PUNCT
framr-1725	120	25	representing	represent	VERB
framr-1725	120	26	the	the	DET
framr-1725	120	27	first	first	ADJ
framr-1725	120	28	261	261	NUM
framr-1725	120	29	weeks	week	NOUN
framr-1725	120	30	.	.	PUNCT
framr-1725	121	1	for	for	ADP
framr-1725	121	2	the	the	DET
framr-1725	121	3	second	second	ADJ
framr-1725	121	4	sub	sub	NOUN
framr-1725	121	5	sample	sample	NOUN
framr-1725	121	6	the	the	DET
framr-1725	121	7	forecasting	forecasting	NOUN
framr-1725	121	8	is	be	AUX
framr-1725	121	9	done	do	VERB
framr-1725	121	10	using	use	VERB
framr-1725	121	11	the	the	DET
framr-1725	121	12	sample	sample	NOUN
framr-1725	121	13	period	period	NOUN
framr-1725	121	14	from	from	ADP
framr-1725	121	15	6th	6th	NOUN
framr-1725	121	16	of	of	ADP
framr-1725	121	17	april	april	PROPN
framr-1725	121	18	2004	2004	NUM
framr-1725	121	19	to	to	ADP
framr-1725	121	20	7th	7th	NOUN
framr-1725	121	21	of	of	ADP
framr-1725	121	22	april	april	PROPN
framr-1725	121	23	2009	2009	NUM
framr-1725	121	24	,	,	PUNCT
framr-1725	121	25	representing	represent	VERB
framr-1725	121	26	the	the	DET
framr-1725	121	27	first	first	ADJ
framr-1725	121	28	261	261	NUM
framr-1725	121	29	weeks	week	NOUN
framr-1725	121	30	.	.	PUNCT
framr-1725	122	1	the	the	DET
framr-1725	122	2	result	result	NOUN
framr-1725	122	3	of	of	ADP
framr-1725	122	4	this	this	PRON
framr-1725	122	5	will	will	AUX
framr-1725	122	6	be	be	AUX
framr-1725	122	7	discussed	discuss	VERB
framr-1725	122	8	in	in	ADP
framr-1725	122	9	section	section	NOUN
framr-1725	122	10	four	four	NUM
framr-1725	122	11	.	.	PUNCT
framr-1725	123	1	3.3.3	3.3.3	NUM
framr-1725	123	2	.	.	PUNCT
framr-1725	123	3	forecast	forecast	NOUN
framr-1725	123	4	evaluation	evaluation	NOUN
framr-1725	123	5	criteria	criterion	NOUN
framr-1725	123	6	.	.	PUNCT
framr-1725	124	1	various	various	ADJ
framr-1725	124	2	evaluation	evaluation	NOUN
framr-1725	124	3	criteria	criterion	NOUN
framr-1725	124	4	are	be	AUX
framr-1725	124	5	used	use	VERB
framr-1725	124	6	to	to	PART
framr-1725	124	7	know	know	VERB
framr-1725	124	8	how	how	SCONJ
framr-1725	124	9	best	good	ADJ
framr-1725	124	10	a	a	DET
framr-1725	124	11	particular	particular	ADJ
framr-1725	124	12	model	model	NOUN
framr-1725	124	13	out	out	ADP
framr-1725	124	14	performs	perform	VERB
framr-1725	124	15	another	another	PRON
framr-1725	124	16	.	.	PUNCT
framr-1725	125	1	the	the	DET
framr-1725	125	2	mean	mean	ADJ
framr-1725	125	3	errors	error	NOUN
framr-1725	125	4	(	(	PUNCT
framr-1725	125	5	me	i	PRON
framr-1725	125	6	)	)	PUNCT
framr-1725	125	7	,	,	PUNCT
framr-1725	125	8	mean	mean	VERB
framr-1725	125	9	square	square	ADJ
framr-1725	125	10	error	error	NOUN
framr-1725	125	11	(	(	PUNCT
framr-1725	125	12	mse	mse	NOUN
framr-1725	125	13	)	)	PUNCT
framr-1725	125	14	,	,	PUNCT
framr-1725	125	15	root	root	NOUN
framr-1725	125	16	mean	mean	VERB
framr-1725	125	17	square	square	ADJ
framr-1725	125	18	error	error	NOUN
framr-1725	125	19	(	(	PUNCT
framr-1725	125	20	rmse	rmse	NOUN
framr-1725	125	21	)	)	PUNCT
framr-1725	125	22	,	,	PUNCT
framr-1725	125	23	and	and	CCONJ
framr-1725	125	24	the	the	DET
framr-1725	125	25	mean	mean	ADJ
framr-1725	125	26	absolute	absolute	ADJ
framr-1725	125	27	error	error	NOUN
framr-1725	125	28	(	(	PUNCT
framr-1725	125	29	mae	mae	PROPN
framr-1725	125	30	)	)	PUNCT
framr-1725	125	31	are	be	AUX
framr-1725	125	32	the	the	DET
framr-1725	125	33	various	various	ADJ
framr-1725	125	34	error	error	NOUN
framr-1725	125	35	techniques	technique	NOUN
framr-1725	125	36	to	to	PART
framr-1725	125	37	look	look	VERB
framr-1725	125	38	at	at	ADP
framr-1725	125	39	when	when	SCONJ
framr-1725	125	40	testing	testing	NOUN
framr-1725	125	41	performance	performance	NOUN
framr-1725	125	42	.	.	PUNCT
framr-1725	126	1	the	the	DET
framr-1725	126	2	ones	one	NOUN
framr-1725	126	3	mentioned	mention	VERB
framr-1725	126	4	here	here	ADV
framr-1725	126	5	are	be	AUX
framr-1725	126	6	employed	employ	VERB
framr-1725	126	7	so	so	SCONJ
framr-1725	126	8	as	as	SCONJ
framr-1725	126	9	to	to	PART
framr-1725	126	10	check	check	VERB
framr-1725	126	11	performance	performance	NOUN
framr-1725	126	12	.	.	PUNCT
framr-1725	127	1	a	a	DET
framr-1725	127	2	forecast	forecast	NOUN
framr-1725	127	3	error	error	NOUN
framr-1725	127	4	with	with	ADP
framr-1725	127	5	mean	mean	NOUN
framr-1725	127	6	near	near	ADP
framr-1725	127	7	zero	zero	NUM
framr-1725	127	8	and	and	CCONJ
framr-1725	127	9	small	small	ADJ
framr-1725	127	10	variance	variance	NOUN
framr-1725	127	11	depicts	depict	VERB
framr-1725	127	12	the	the	DET
framr-1725	127	13	more	more	ADV
framr-1725	127	14	preferred	preferred	ADJ
framr-1725	127	15	model	model	NOUN
framr-1725	127	16	.	.	PUNCT
framr-1725	128	1	therefore	therefore	ADV
framr-1725	128	2	the	the	DET
framr-1725	128	3	model	model	NOUN
framr-1725	128	4	that	that	PRON
framr-1725	128	5	best	good	ADJ
framr-1725	128	6	forecasts	forecast	NOUN
framr-1725	128	7	volatility	volatility	NOUN
framr-1725	128	8	is	be	AUX
framr-1725	128	9	taken	take	VERB
framr-1725	128	10	from	from	ADP
framr-1725	128	11	the	the	DET
framr-1725	128	12	criteria	criterion	NOUN
framr-1725	128	13	discussed	discuss	VERB
framr-1725	128	14	above	above	ADV
framr-1725	128	15	.	.	PUNCT
framr-1725	129	1	the	the	DET
framr-1725	129	2	model	model	NOUN
framr-1725	129	3	with	with	ADP
framr-1725	129	4	the	the	DET
framr-1725	129	5	lowest	low	ADJ
framr-1725	129	6	value	value	NOUN
framr-1725	129	7	of	of	ADP
framr-1725	129	8	the	the	DET
framr-1725	129	9	mean	mean	ADJ
framr-1725	129	10	error	error	NOUN
framr-1725	129	11	(	(	PUNCT
framr-1725	129	12	me	i	PRON
framr-1725	129	13	)	)	PUNCT
framr-1725	129	14	proves	prove	VERB
framr-1725	129	15	to	to	PART
framr-1725	129	16	be	be	AUX
framr-1725	129	17	the	the	DET
framr-1725	129	18	best	good	ADJ
framr-1725	129	19	forecast	forecast	NOUN
framr-1725	129	20	of	of	ADP
framr-1725	129	21	volatility	volatility	NOUN
framr-1725	129	22	and	and	CCONJ
framr-1725	129	23	the	the	DET
framr-1725	129	24	same	same	ADJ
framr-1725	129	25	applies	apply	VERB
framr-1725	129	26	to	to	ADP
framr-1725	129	27	the	the	DET
framr-1725	129	28	mean	mean	ADJ
framr-1725	129	29	square	square	ADJ
framr-1725	129	30	error	error	NOUN
framr-1725	129	31	(	(	PUNCT
framr-1725	129	32	mse	mse	NOUN
framr-1725	129	33	)	)	PUNCT
framr-1725	129	34	,	,	PUNCT
framr-1725	129	35	the	the	DET
framr-1725	129	36	root	root	NOUN
framr-1725	129	37	mean	mean	VERB
framr-1725	129	38	square	square	ADJ
framr-1725	129	39	error	error	NOUN
framr-1725	129	40	(	(	PUNCT
framr-1725	129	41	rmse	rmse	NOUN
framr-1725	129	42	)	)	PUNCT
framr-1725	129	43	,	,	PUNCT
framr-1725	129	44	and	and	CCONJ
framr-1725	129	45	the	the	DET
framr-1725	129	46	mean	mean	ADJ
framr-1725	129	47	absolute	absolute	ADJ
framr-1725	129	48	error	error	NOUN
framr-1725	129	49	(	(	PUNCT
framr-1725	129	50	mae	mae	PROPN
framr-1725	129	51	)	)	PUNCT
framr-1725	129	52	.	.	PUNCT
framr-1725	130	1	(	(	PUNCT
framr-1725	130	2	see	see	VERB
framr-1725	130	3	poon	poon	NOUN
framr-1725	130	4	(	(	PUNCT
framr-1725	130	5	2005	2005	NUM
framr-1725	130	6	)	)	PUNCT
framr-1725	130	7	)	)	PUNCT
framr-1725	131	1	mean	mean	VERB
framr-1725	131	2	error	error	NOUN
framr-1725	131	3	(	(	PUNCT
framr-1725	131	4	me	i	PRON
framr-1725	131	5	)	)	PUNCT
framr-1725	131	6	3.3.3	3.3.3	NUM
framr-1725	131	7	financial	financial	ADJ
framr-1725	131	8	risk	risk	NOUN
framr-1725	131	9	and	and	CCONJ
framr-1725	131	10	management	management	NOUN
framr-1725	131	11	reviews	review	NOUN
framr-1725	131	12	,	,	PUNCT
framr-1725	131	13	2018	2018	NUM
framr-1725	131	14	,	,	PUNCT
framr-1725	131	15	4(1	4(1	NOUN
framr-1725	131	16	):	):	PUNCT
framr-1725	131	17	1	1	NUM
framr-1725	131	18	-	-	SYM
framr-1725	131	19	23	23	NUM
framr-1725	131	20	6	6	NUM
framr-1725	131	21	©	©	PROPN
framr-1725	131	22	2018	2018	NUM
framr-1725	131	23	conscientia	conscientia	PROPN
framr-1725	131	24	beam	beam	PROPN
framr-1725	131	25	.	.	PUNCT
framr-1725	132	1	all	all	DET
framr-1725	132	2	rights	right	NOUN
framr-1725	132	3	reserved	reserve	VERB
framr-1725	132	4	.	.	PUNCT
framr-1725	133	1	root	root	NOUN
framr-1725	133	2	mean	mean	VERB
framr-1725	133	3	square	square	ADJ
framr-1725	133	4	error	error	NOUN
framr-1725	133	5	(	(	PUNCT
framr-1725	133	6	rmse	rmse	NOUN
framr-1725	133	7	)	)	PUNCT
framr-1725	133	8	3.3.4	3.3.4	NUM
framr-1725	133	9	mean	mean	NOUN
framr-1725	133	10	absolute	absolute	ADJ
framr-1725	133	11	error	error	NOUN
framr-1725	133	12	(	(	PUNCT
framr-1725	133	13	mae	mae	PROPN
framr-1725	133	14	)	)	PUNCT
framr-1725	133	15	3.3.5	3.3.5	NUM
framr-1725	133	16	mean	mean	VERB
framr-1725	133	17	absolute	absolute	ADJ
framr-1725	133	18	percentage	percentage	NOUN
framr-1725	133	19	error	error	NOUN
framr-1725	133	20	.	.	PUNCT
framr-1725	134	1	3.3.6	3.3.6	NUM
framr-1725	134	2	denotes	denote	VERB
framr-1725	134	3	weekly	weekly	ADJ
framr-1725	134	4	volatility	volatility	NOUN
framr-1725	134	5	forecast	forecast	NOUN
framr-1725	134	6	of	of	ADP
framr-1725	134	7	the	the	DET
framr-1725	134	8	model	model	NOUN
framr-1725	134	9	,	,	PUNCT
framr-1725	134	10	while	while	SCONJ
framr-1725	134	11	denote	denote	VERB
framr-1725	134	12	the	the	DET
framr-1725	134	13	in	in	ADP
framr-1725	134	14	sample	sample	NOUN
framr-1725	134	15	actual	actual	ADJ
framr-1725	134	16	standard	standard	ADJ
framr-1725	134	17	deviation	deviation	NOUN
framr-1725	134	18	and	and	CCONJ
framr-1725	134	19	n	n	DET
framr-1725	134	20	the	the	DET
framr-1725	134	21	total	total	ADJ
framr-1725	134	22	number	number	NOUN
framr-1725	134	23	of	of	ADP
framr-1725	134	24	observation	observation	NOUN
framr-1725	134	25	(	(	PUNCT
framr-1725	134	26	number	number	NOUN
framr-1725	134	27	of	of	ADP
framr-1725	134	28	weeks	week	NOUN
framr-1725	134	29	)	)	PUNCT
framr-1725	134	30	.	.	PUNCT
framr-1725	135	1	4	4	X
framr-1725	135	2	.	.	X
framr-1725	135	3	empirical	empirical	ADJ
framr-1725	135	4	results	result	NOUN
framr-1725	135	5	4.1	4.1	NUM
framr-1725	135	6	.	.	PUNCT
framr-1725	136	1	data	datum	NOUN
framr-1725	136	2	series	series	PROPN
framr-1725	136	3	statistics	statistic	NOUN
framr-1725	136	4	.	.	PUNCT
framr-1725	137	1	table-4.1.1	table-4.1.1	NOUN
framr-1725	137	2	.	.	PUNCT
framr-1725	137	3	descriptive	descriptive	ADJ
framr-1725	137	4	statistics	statistic	NOUN
framr-1725	137	5	of	of	ADP
framr-1725	137	6	return	return	NOUN
framr-1725	137	7	series	series	NOUN
framr-1725	137	8	.	.	PUNCT
framr-1725	138	1	dj	dj	X
framr-1725	138	2	-	-	PUNCT
framr-1725	138	3	ind	ind	ADJ
framr-1725	138	4	ftse	ftse	PROPN
framr-1725	138	5	100	100	NUM
framr-1725	138	6	nikkei	nikkei	NOUN
framr-1725	138	7	225	225	NUM
framr-1725	138	8	sample	sample	NOUN
framr-1725	138	9	:	:	PUNCT
framr-1725	138	10	1989	1989	NUM
framr-1725	138	11	-	-	SYM
framr-1725	138	12	1999	1999	NUM
framr-1725	138	13	1999	1999	NUM
framr-1725	138	14	-	-	SYM
framr-1725	138	15	2009	2009	NUM
framr-1725	138	16	1989	1989	NUM
framr-1725	138	17	-	-	SYM
framr-1725	138	18	1999	1999	NUM
framr-1725	138	19	1999	1999	NUM
framr-1725	138	20	-	-	SYM
framr-1725	138	21	2009	2009	NUM
framr-1725	138	22	1989	1989	NUM
framr-1725	138	23	-	-	SYM
framr-1725	138	24	1999	1999	NUM
framr-1725	138	25	1999	1999	NUM
framr-1725	138	26	-	-	SYM
framr-1725	138	27	2009	2009	NUM
framr-1725	138	28	size	size	NOUN
framr-1725	138	29	2517	2517	NUM
framr-1725	138	30	2515	2515	NUM
framr-1725	138	31	2524	2524	NUM
framr-1725	138	32	2531	2531	NUM
framr-1725	138	33	2469	2469	NUM
framr-1725	138	34	2461	2461	NUM
framr-1725	138	35	mean	mean	NOUN
framr-1725	138	36	0.000576	0.000576	NUM
framr-1725	138	37	-0.0000996	-0.0000996	NOUN
framr-1725	139	1	0.000441	0.000441	NUM
framr-1725	139	2	-0.000188	-0.000188	NOUN
framr-1725	139	3	-0.000286	-0.000286	ADJ
framr-1725	139	4	-0.000250	-0.000250	ADJ
framr-1725	139	5	median	median	NOUN
framr-1725	139	6	0.000693	0.000693	NUM
framr-1725	139	7	0.000312	0.000312	NUM
framr-1725	139	8	0.000530	0.000530	NUM
framr-1725	139	9	0.000227	0.000227	NUM
framr-1725	139	10	-0.000231	-0.000231	NOUN
framr-1725	139	11	0.00000584	0.00000584	NUM
framr-1725	139	12	sd	sd	ADP
framr-1725	139	13	0.008922	0.008922	NUM
framr-1725	139	14	0.013067	0.013067	NUM
framr-1725	139	15	0.008925	0.008925	NUM
framr-1725	139	16	0.013402	0.013402	NUM
framr-1725	139	17	0.014946	0.014946	NUM
framr-1725	139	18	0.016201	0.016201	NUM
framr-1725	139	19	skewness	skewness	NOUN
framr-1725	139	20	-0.585097	-0.585097	NOUN
framr-1725	139	21	0.025056	0.025056	NUM
framr-1725	139	22	0.069316	0.069316	NUM
framr-1725	139	23	-0.126501	-0.126501	VERB
framr-1725	139	24	0.343934	0.343934	NUM
framr-1725	139	25	-0.319098	-0.319098	NOUN
framr-1725	139	26	kurtosis	kurtosis	VERB
framr-1725	139	27	9.839083	9.839083	NUM
framr-1725	139	28	10.74865	10.74865	NUM
framr-1725	139	29	5.302952	5.302952	NUM
framr-1725	139	30	9.220919	9.220919	NUM
framr-1725	139	31	7.213919	7.213919	NUM
framr-1725	139	32	9.553287	9.553287	NUM
framr-1725	139	33	jb	jb	NOUN
framr-1725	139	34	-	-	PUNCT
framr-1725	139	35	test	test	NOUN
framr-1725	140	1	5048.935	5048.935	PROPN
framr-1725	140	2	6292.118	6292.118	NUM
framr-1725	140	3	559.7818	559.7818	NUM
framr-1725	140	4	4087.958	4087.958	NUM
framr-1725	140	5	1875.439	1875.439	NUM
framr-1725	140	6	4445.475	4445.475	NUM
framr-1725	140	7	probability	probability	NOUN
framr-1725	140	8	0.000000	0.000000	NUM
framr-1725	140	9	0.00000	0.00000	NUM
framr-1725	140	10	0.000000	0.000000	NUM
framr-1725	140	11	0.000000	0.000000	NUM
framr-1725	140	12	0.000000	0.000000	NUM
framr-1725	140	13	0.000000	0.000000	NUM
framr-1725	140	14	source	source	NOUN
framr-1725	140	15	:	:	PUNCT
framr-1725	140	16	eviews	eviews	PROPN
framr-1725	140	17	’	'	PUNCT
framr-1725	140	18	result	result	VERB
framr-1725	140	19	output	output	NOUN
framr-1725	140	20	from	from	ADP
framr-1725	140	21	table	table	NOUN
framr-1725	140	22	4.1.1	4.1.1	NUM
framr-1725	140	23	,	,	PUNCT
framr-1725	140	24	the	the	DET
framr-1725	140	25	mean	mean	ADJ
framr-1725	140	26	value	value	NOUN
framr-1725	140	27	in	in	ADP
framr-1725	140	28	the	the	DET
framr-1725	140	29	first	first	ADJ
framr-1725	140	30	subsamples	subsample	NOUN
framr-1725	140	31	seems	seem	VERB
framr-1725	140	32	to	to	PART
framr-1725	140	33	be	be	AUX
framr-1725	140	34	closer	close	ADJ
framr-1725	140	35	but	but	CCONJ
framr-1725	140	36	with	with	ADP
framr-1725	140	37	the	the	DET
framr-1725	140	38	exception	exception	NOUN
framr-1725	140	39	of	of	ADP
framr-1725	140	40	those	those	PRON
framr-1725	140	41	of	of	ADP
framr-1725	140	42	the	the	DET
framr-1725	140	43	nikkei	nikkei	NOUN
framr-1725	140	44	225	225	NUM
framr-1725	140	45	suggesting	suggest	VERB
framr-1725	140	46	a	a	DET
framr-1725	140	47	negative	negative	ADJ
framr-1725	140	48	value	value	NOUN
framr-1725	140	49	.	.	PUNCT
framr-1725	141	1	in	in	ADP
framr-1725	141	2	the	the	DET
framr-1725	141	3	second	second	ADJ
framr-1725	141	4	subsample	subsample	NOUN
framr-1725	141	5	,	,	PUNCT
framr-1725	141	6	the	the	DET
framr-1725	141	7	mean	mean	NOUN
framr-1725	141	8	of	of	ADP
framr-1725	141	9	the	the	DET
framr-1725	141	10	various	various	ADJ
framr-1725	141	11	indices	index	NOUN
framr-1725	141	12	are	be	AUX
framr-1725	141	13	all	all	ADV
framr-1725	141	14	negative	negative	ADJ
framr-1725	141	15	with	with	ADP
framr-1725	141	16	that	that	PRON
framr-1725	141	17	of	of	ADP
framr-1725	141	18	the	the	DET
framr-1725	141	19	ftse	ftse	PROPN
framr-1725	141	20	100	100	NUM
framr-1725	141	21	and	and	CCONJ
framr-1725	141	22	nikkei	nikkei	NOUN
framr-1725	141	23	225	225	NUM
framr-1725	141	24	relatively	relatively	ADV
framr-1725	141	25	close	close	ADJ
framr-1725	141	26	.	.	PUNCT
framr-1725	142	1	in	in	ADP
framr-1725	142	2	the	the	DET
framr-1725	142	3	first	first	ADJ
framr-1725	142	4	subsample	subsample	NOUN
framr-1725	142	5	,	,	PUNCT
framr-1725	142	6	the	the	DET
framr-1725	142	7	standard	standard	ADJ
framr-1725	142	8	deviation	deviation	NOUN
framr-1725	142	9	of	of	ADP
framr-1725	142	10	dow	dow	PROPN
framr-1725	142	11	jones	jones	PROPN
framr-1725	142	12	industrial	industrial	PROPN
framr-1725	142	13	and	and	CCONJ
framr-1725	142	14	the	the	DET
framr-1725	142	15	ftse	ftse	PROPN
framr-1725	142	16	100	100	NUM
framr-1725	142	17	are	be	AUX
framr-1725	142	18	quite	quite	ADV
framr-1725	142	19	close	close	ADJ
framr-1725	142	20	but	but	CCONJ
framr-1725	142	21	that	that	PRON
framr-1725	142	22	of	of	ADP
framr-1725	142	23	nikkei	nikkei	PROPN
framr-1725	142	24	225	225	NUM
framr-1725	142	25	is	be	AUX
framr-1725	142	26	significantly	significantly	ADV
framr-1725	142	27	different	different	ADJ
framr-1725	142	28	.	.	PUNCT
framr-1725	143	1	the	the	DET
framr-1725	143	2	same	same	ADJ
framr-1725	143	3	applies	apply	VERB
framr-1725	143	4	to	to	ADP
framr-1725	143	5	the	the	DET
framr-1725	143	6	second	second	ADJ
framr-1725	143	7	subsample	subsample	NOUN
framr-1725	143	8	,	,	PUNCT
framr-1725	143	9	but	but	CCONJ
framr-1725	143	10	this	this	DET
framr-1725	143	11	time	time	NOUN
framr-1725	143	12	the	the	DET
framr-1725	143	13	standard	standard	ADJ
framr-1725	143	14	deviation	deviation	NOUN
framr-1725	143	15	of	of	ADP
framr-1725	143	16	the	the	DET
framr-1725	143	17	nikkei	nikkei	PROPN
framr-1725	143	18	225	225	NUM
framr-1725	143	19	seems	seem	VERB
framr-1725	143	20	close	close	ADJ
framr-1725	143	21	to	to	ADP
framr-1725	143	22	those	those	PRON
framr-1725	143	23	of	of	ADP
framr-1725	143	24	the	the	DET
framr-1725	143	25	other	other	ADJ
framr-1725	143	26	indices	index	NOUN
framr-1725	143	27	.	.	PUNCT
framr-1725	144	1	the	the	DET
framr-1725	144	2	skewness	skewness	NOUN
framr-1725	144	3	of	of	ADP
framr-1725	144	4	dow	dow	PROPN
framr-1725	144	5	jones	jones	PROPN
framr-1725	144	6	industrial	industrial	PROPN
framr-1725	144	7	in	in	ADP
framr-1725	144	8	the	the	DET
framr-1725	144	9	first	first	ADJ
framr-1725	144	10	subsample	subsample	NOUN
framr-1725	144	11	is	be	AUX
framr-1725	144	12	negative	negative	ADJ
framr-1725	144	13	suggesting	suggest	VERB
framr-1725	144	14	a	a	DET
framr-1725	144	15	longer	long	ADV
framr-1725	144	16	left	leave	VERB
framr-1725	144	17	tail	tail	NOUN
framr-1725	144	18	and	and	CCONJ
framr-1725	144	19	a	a	DET
framr-1725	144	20	higher	high	ADJ
framr-1725	144	21	peak	peak	NOUN
framr-1725	144	22	in	in	ADP
framr-1725	144	23	the	the	DET
framr-1725	144	24	middle	middle	NOUN
framr-1725	144	25	.	.	PUNCT
framr-1725	145	1	according	accord	VERB
framr-1725	145	2	to	to	ADP
framr-1725	145	3	poon	poon	NOUN
framr-1725	145	4	(	(	PUNCT
framr-1725	145	5	2005	2005	NUM
framr-1725	145	6	)	)	PUNCT
framr-1725	145	7	the	the	DET
framr-1725	145	8	implication	implication	NOUN
framr-1725	145	9	of	of	ADP
framr-1725	145	10	this	this	PRON
framr-1725	145	11	is	be	AUX
framr-1725	145	12	that	that	PRON
framr-1725	145	13	for	for	ADP
framr-1725	145	14	a	a	DET
framr-1725	145	15	large	large	ADJ
framr-1725	145	16	part	part	NOUN
framr-1725	145	17	of	of	ADP
framr-1725	145	18	the	the	DET
framr-1725	145	19	time	time	NOUN
framr-1725	145	20	,	,	PUNCT
framr-1725	145	21	financial	financial	ADJ
framr-1725	145	22	asset	asset	NOUN
framr-1725	145	23	returns	return	NOUN
framr-1725	145	24	fluctuate	fluctuate	NOUN
framr-1725	145	25	in	in	ADP
framr-1725	145	26	a	a	DET
framr-1725	145	27	range	range	NOUN
framr-1725	145	28	smaller	small	ADJ
framr-1725	145	29	than	than	ADP
framr-1725	145	30	that	that	PRON
framr-1725	145	31	of	of	ADP
framr-1725	145	32	a	a	DET
framr-1725	145	33	normal	normal	ADJ
framr-1725	145	34	distribution	distribution	NOUN
framr-1725	145	35	.	.	PUNCT
framr-1725	146	1	on	on	ADP
framr-1725	146	2	the	the	DET
framr-1725	146	3	other	other	ADJ
framr-1725	146	4	hand	hand	NOUN
framr-1725	146	5	,	,	PUNCT
framr-1725	146	6	ftse	ftse	VERB
framr-1725	146	7	100	100	NUM
framr-1725	146	8	and	and	CCONJ
framr-1725	146	9	nikkei	nikkei	PROPN
framr-1725	146	10	225	225	NUM
framr-1725	146	11	are	be	AUX
framr-1725	146	12	positively	positively	ADV
framr-1725	146	13	skewed	skewed	ADJ
framr-1725	146	14	suggesting	suggest	VERB
framr-1725	146	15	a	a	DET
framr-1725	146	16	longer	long	ADJ
framr-1725	146	17	right	right	ADJ
framr-1725	146	18	tail	tail	NOUN
framr-1725	146	19	and	and	CCONJ
framr-1725	146	20	a	a	DET
framr-1725	146	21	higher	high	ADJ
framr-1725	146	22	peak	peak	NOUN
framr-1725	146	23	in	in	ADP
framr-1725	146	24	the	the	DET
framr-1725	146	25	middle	middle	NOUN
framr-1725	146	26	.	.	PUNCT
framr-1725	147	1	in	in	ADP
framr-1725	147	2	the	the	DET
framr-1725	147	3	second	second	ADJ
framr-1725	147	4	subsample	subsample	NOUN
framr-1725	147	5	,	,	PUNCT
framr-1725	147	6	dow	dow	PROPN
framr-1725	147	7	jones	jones	PROPN
framr-1725	147	8	industrial	industrial	PROPN
framr-1725	147	9	tends	tend	VERB
framr-1725	147	10	to	to	PART
framr-1725	147	11	be	be	AUX
framr-1725	147	12	positive	positive	ADJ
framr-1725	147	13	,	,	PUNCT
framr-1725	147	14	while	while	SCONJ
framr-1725	147	15	that	that	PRON
framr-1725	147	16	for	for	ADP
framr-1725	147	17	ftse	ftse	PROPN
framr-1725	147	18	100	100	NUM
framr-1725	147	19	and	and	CCONJ
framr-1725	147	20	nikkei	nikkei	PROPN
framr-1725	147	21	225	225	NUM
framr-1725	147	22	is	be	AUX
framr-1725	147	23	negatively	negatively	ADV
framr-1725	147	24	skewed	skewed	ADJ
framr-1725	147	25	.	.	PUNCT
framr-1725	148	1	the	the	DET
framr-1725	148	2	kurtosis	kurtosis	NOUN
framr-1725	148	3	for	for	ADP
framr-1725	148	4	all	all	DET
framr-1725	148	5	the	the	DET
framr-1725	148	6	samples	sample	NOUN
framr-1725	148	7	are	be	AUX
framr-1725	148	8	positive	positive	ADJ
framr-1725	148	9	and	and	CCONJ
framr-1725	148	10	in	in	ADP
framr-1725	148	11	excess	excess	NOUN
framr-1725	148	12	of	of	ADP
framr-1725	148	13	3	3	NUM
framr-1725	148	14	suggesting	suggest	VERB
framr-1725	148	15	a	a	DET
framr-1725	148	16	flatter	flat	ADJ
framr-1725	148	17	and	and	CCONJ
framr-1725	148	18	thicker	thick	ADJ
framr-1725	148	19	tail	tail	NOUN
framr-1725	148	20	and	and	CCONJ
framr-1725	148	21	are	be	AUX
framr-1725	148	22	very	very	ADV
framr-1725	148	23	sensitive	sensitive	ADJ
framr-1725	148	24	to	to	ADP
framr-1725	148	25	outliers	outlier	NOUN
framr-1725	148	26	.	.	PUNCT
framr-1725	149	1	4.1.1	4.1.1	X
framr-1725	149	2	.	.	PUNCT
framr-1725	149	3	jarque	jarque	NOUN
framr-1725	149	4	-	-	PUNCT
framr-1725	149	5	bera	bera	NOUN
framr-1725	149	6	normality	normality	NOUN
framr-1725	149	7	test	test	NOUN
framr-1725	149	8	.	.	PUNCT
framr-1725	150	1	this	this	DET
framr-1725	150	2	test	test	NOUN
framr-1725	150	3	for	for	ADP
framr-1725	150	4	the	the	DET
framr-1725	150	5	normality	normality	NOUN
framr-1725	150	6	of	of	ADP
framr-1725	150	7	the	the	DET
framr-1725	150	8	asset	asset	NOUN
framr-1725	150	9	returns	return	NOUN
framr-1725	150	10	of	of	ADP
framr-1725	150	11	the	the	DET
framr-1725	150	12	various	various	ADJ
framr-1725	150	13	indices	index	NOUN
framr-1725	150	14	.	.	PUNCT
framr-1725	151	1	the	the	DET
framr-1725	151	2	low	low	ADJ
framr-1725	151	3	p	p	NOUN
framr-1725	151	4	value	value	NOUN
framr-1725	151	5	and	and	CCONJ
framr-1725	151	6	high	high	ADJ
framr-1725	151	7	value	value	NOUN
framr-1725	151	8	of	of	ADP
framr-1725	151	9	the	the	DET
framr-1725	151	10	jarque	jarque	NOUN
framr-1725	151	11	-	-	PUNCT
framr-1725	151	12	bera	bera	NOUN
framr-1725	151	13	statistics	statistic	NOUN
framr-1725	151	14	suggests	suggest	VERB
framr-1725	151	15	we	we	PRON
framr-1725	151	16	reject	reject	VERB
framr-1725	151	17	the	the	DET
framr-1725	151	18	null	null	ADJ
framr-1725	151	19	hypothesis	hypothesis	NOUN
framr-1725	151	20	of	of	ADP
framr-1725	151	21	normality	normality	NOUN
framr-1725	151	22	for	for	ADP
framr-1725	151	23	all	all	DET
framr-1725	151	24	the	the	DET
framr-1725	151	25	samples	sample	NOUN
framr-1725	151	26	.	.	PUNCT
framr-1725	152	1	these	these	DET
framr-1725	152	2	values	value	NOUN
framr-1725	152	3	are	be	AUX
framr-1725	152	4	lower	low	ADJ
framr-1725	152	5	financial	financial	ADJ
framr-1725	152	6	risk	risk	NOUN
framr-1725	152	7	and	and	CCONJ
framr-1725	152	8	management	management	NOUN
framr-1725	152	9	reviews	review	NOUN
framr-1725	152	10	,	,	PUNCT
framr-1725	152	11	2018	2018	NUM
framr-1725	152	12	,	,	PUNCT
framr-1725	152	13	4(1	4(1	NOUN
framr-1725	152	14	):	):	PUNCT
framr-1725	152	15	1	1	NUM
framr-1725	152	16	-	-	SYM
framr-1725	152	17	23	23	NUM
framr-1725	152	18	7	7	NUM
framr-1725	152	19	©	©	PROPN
framr-1725	152	20	2018	2018	NUM
framr-1725	152	21	conscientia	conscientia	PROPN
framr-1725	152	22	beam	beam	PROPN
framr-1725	152	23	.	.	PUNCT
framr-1725	153	1	all	all	DET
framr-1725	153	2	rights	right	NOUN
framr-1725	153	3	reserved	reserve	VERB
framr-1725	153	4	.	.	PUNCT
framr-1725	154	1	than	than	ADP
framr-1725	154	2	that	that	PRON
framr-1725	154	3	of	of	ADP
framr-1725	154	4	the	the	DET
framr-1725	154	5	5	5	NUM
framr-1725	154	6	%	%	NOUN
framr-1725	154	7	level	level	NOUN
framr-1725	154	8	of	of	ADP
framr-1725	154	9	significance	significance	NOUN
framr-1725	154	10	and	and	CCONJ
framr-1725	154	11	this	this	PRON
framr-1725	154	12	suggests	suggest	VERB
framr-1725	154	13	that	that	SCONJ
framr-1725	154	14	the	the	DET
framr-1725	154	15	financial	financial	ADJ
framr-1725	154	16	assets	asset	NOUN
framr-1725	154	17	are	be	AUX
framr-1725	154	18	not	not	PART
framr-1725	154	19	normally	normally	ADV
framr-1725	154	20	distributed	distribute	VERB
framr-1725	154	21	,	,	PUNCT
framr-1725	154	22	hence	hence	ADV
framr-1725	154	23	are	be	AUX
framr-1725	154	24	non	non	X
framr-1725	154	25	normal	normal	ADJ
framr-1725	154	26	.	.	PUNCT
framr-1725	155	1	4.1.2	4.1.2	X
framr-1725	155	2	.	.	PUNCT
framr-1725	155	3	stationarity	stationarity	NOUN
framr-1725	155	4	test	test	NOUN
framr-1725	155	5	(	(	PUNCT
framr-1725	155	6	adf	adf	NOUN
framr-1725	155	7	test	test	NOUN
framr-1725	155	8	)	)	PUNCT
framr-1725	155	9	augmented	augment	VERB
framr-1725	155	10	dickey	dickey	PROPN
framr-1725	155	11	fuller	full	ADJ
framr-1725	155	12	test	test	NOUN
framr-1725	155	13	table-4.1.2	table-4.1.2	ADP
framr-1725	155	14	.	.	PUNCT
framr-1725	156	1	augmented	augment	VERB
framr-1725	156	2	dickey	dickey	PROPN
framr-1725	156	3	fuller	full	ADJ
framr-1725	156	4	test	test	NOUN
framr-1725	156	5	for	for	ADP
framr-1725	156	6	all	all	DET
framr-1725	156	7	the	the	DET
framr-1725	156	8	return	return	NOUN
framr-1725	156	9	series	series	NOUN
framr-1725	156	10	dj	dj	NOUN
framr-1725	156	11	-	-	ADJ
framr-1725	156	12	industrial	industrial	ADJ
framr-1725	156	13	ftse	ftse	NOUN
framr-1725	156	14	100	100	NUM
framr-1725	156	15	nikkei	nikkei	NOUN
framr-1725	156	16	225	225	NUM
framr-1725	156	17	lag	lag	NOUN
framr-1725	156	18	1989	1989	NUM
framr-1725	156	19	-	-	SYM
framr-1725	156	20	1999	1999	NUM
framr-1725	156	21	1999	1999	NUM
framr-1725	156	22	-	-	SYM
framr-1725	156	23	2009	2009	NUM
framr-1725	156	24	1989	1989	NUM
framr-1725	156	25	-	-	SYM
framr-1725	156	26	1999	1999	NUM
framr-1725	156	27	1999	1999	NUM
framr-1725	156	28	-	-	SYM
framr-1725	156	29	2009	2009	NUM
framr-1725	156	30	1989	1989	NUM
framr-1725	156	31	-	-	SYM
framr-1725	156	32	1999	1999	NUM
framr-1725	156	33	1999	1999	NUM
framr-1725	156	34	-	-	SYM
framr-1725	156	35	2009	2009	NUM
framr-1725	156	36	0	0	NUM
framr-1725	156	37	-3.84951	-3.84951	NOUN
framr-1725	156	38	(	(	PUNCT
framr-1725	156	39	0.0000	0.0000	NUM
framr-1725	156	40	)	)	PUNCT
framr-1725	156	41	-4.15147	-4.15147	NOUN
framr-1725	156	42	(	(	PUNCT
framr-1725	156	43	0.000	0.000	NUM
framr-1725	156	44	)	)	PUNCT
framr-1725	156	45	-3.580068	-3.580068	NOUN
framr-1725	156	46	(	(	PUNCT
framr-1725	156	47	0.0000	0.0000	NUM
framr-1725	156	48	)	)	PUNCT
framr-1725	156	49	-4.330746	-4.330746	NOUN
framr-1725	156	50	(	(	PUNCT
framr-1725	156	51	0.0000	0.0000	NUM
framr-1725	156	52	)	)	PUNCT
framr-1725	156	53	-4.074043	-4.074043	NOUN
framr-1725	156	54	(	(	PUNCT
framr-1725	156	55	0.0000	0.0000	NUM
framr-1725	156	56	)	)	PUNCT
framr-1725	156	57	-4.230698	-4.230698	NOUN
framr-1725	156	58	(	(	PUNCT
framr-1725	156	59	0.0000	0.0000	NUM
framr-1725	156	60	)	)	PUNCT
framr-1725	156	61	1	1	NUM
framr-1725	156	62	2.032284	2.032284	NUM
framr-1725	156	63	(	(	PUNCT
framr-1725	156	64	0.0000	0.0000	NUM
framr-1725	156	65	)	)	PUNCT
framr-1725	156	66	2.235980	2.235980	NUM
framr-1725	156	67	(	(	PUNCT
framr-1725	156	68	0.0000	0.0000	NUM
framr-1725	156	69	)	)	PUNCT
framr-1725	156	70	1.830214	1.830214	NUM
framr-1725	156	71	(	(	PUNCT
framr-1725	156	72	0.0000	0.0000	NUM
framr-1725	156	73	)	)	PUNCT
framr-1725	156	74	2.440101	2.440101	NUM
framr-1725	156	75	(	(	PUNCT
framr-1725	156	76	0.0000	0.0000	NUM
framr-1725	156	77	)	)	PUNCT
framr-1725	156	78	2.225083	2.225083	NUM
framr-1725	156	79	(	(	PUNCT
framr-1725	156	80	0.0000	0.0000	NUM
framr-1725	156	81	)	)	PUNCT
framr-1725	156	82	2.353054	2.353054	NUM
framr-1725	156	83	(	(	PUNCT
framr-1725	156	84	0.0000	0.0000	NUM
framr-1725	156	85	)	)	PUNCT
framr-1725	156	86	2	2	NUM
framr-1725	156	87	1.346313	1.346313	NUM
framr-1725	156	88	(	(	PUNCT
framr-1725	156	89	0.0000	0.0000	NUM
framr-1725	156	90	)	)	PUNCT
framr-1725	156	91	1.422396	1.422396	NUM
framr-1725	156	92	(	(	PUNCT
framr-1725	156	93	0.0000	0.0000	NUM
framr-1725	156	94	)	)	PUNCT
framr-1725	156	95	1.198992	1.198992	NUM
framr-1725	156	96	(	(	PUNCT
framr-1725	156	97	0.0000	0.0000	NUM
framr-1725	156	98	)	)	PUNCT
framr-1725	156	99	1.659917	1.659917	NUM
framr-1725	156	100	(	(	PUNCT
framr-1725	156	101	0.0000	0.0000	NUM
framr-1725	156	102	)	)	PUNCT
framr-1725	156	103	1.439777	1.439777	NUM
framr-1725	156	104	(	(	PUNCT
framr-1725	156	105	0.00000	0.00000	NUM
framr-1725	156	106	1.607558	1.607558	NUM
framr-1725	156	107	(	(	PUNCT
framr-1725	156	108	0.0000	0.0000	NUM
framr-1725	156	109	)	)	PUNCT
framr-1725	156	110	3	3	NUM
framr-1725	156	111	0.788079	0.788079	NUM
framr-1725	156	112	(	(	PUNCT
framr-1725	156	113	0.0000	0.0000	NUM
framr-1725	156	114	)	)	PUNCT
framr-1725	156	115	0.836214	0.836214	NUM
framr-1725	156	116	(	(	PUNCT
framr-1725	156	117	0.0000	0.0000	NUM
framr-1725	156	118	)	)	PUNCT
framr-1725	156	119	0.681636	0.681636	NUM
framr-1725	156	120	(	(	PUNCT
framr-1725	156	121	0.0000	0.0000	NUM
framr-1725	156	122	)	)	PUNCT
framr-1725	156	123	0.953854	0.953854	NUM
framr-1725	156	124	(	(	PUNCT
framr-1725	156	125	0.0000	0.0000	NUM
framr-1725	156	126	)	)	PUNCT
framr-1725	156	127	0.845688	0.845688	NUM
framr-1725	156	128	(	(	PUNCT
framr-1725	156	129	0.0000	0.0000	NUM
framr-1725	156	130	)	)	PUNCT
framr-1725	156	131	0.993646	0.993646	NUM
framr-1725	156	132	(	(	PUNCT
framr-1725	156	133	0.0000	0.0000	NUM
framr-1725	156	134	)	)	PUNCT
framr-1725	156	135	4	4	NUM
framr-1725	156	136	0.371190	0.371190	NUM
framr-1725	156	137	(	(	PUNCT
framr-1725	156	138	0.0000	0.0000	NUM
framr-1725	156	139	)	)	PUNCT
framr-1725	156	140	0.410869	0.410869	NUM
framr-1725	156	141	(	(	PUNCT
framr-1725	156	142	0.0000	0.0000	NUM
framr-1725	156	143	)	)	PUNCT
framr-1725	156	144	0.342955	0.342955	NUM
framr-1725	156	145	(	(	PUNCT
framr-1725	156	146	0.0000	0.0000	NUM
framr-1725	156	147	)	)	PUNCT
framr-1725	156	148	0.520806	0.520806	NUM
framr-1725	156	149	(	(	PUNCT
framr-1725	156	150	0.0000	0.0000	NUM
framr-1725	156	151	)	)	PUNCT
framr-1725	156	152	0.412657	0.412657	PROPN
framr-1725	156	153	(	(	PUNCT
framr-1725	156	154	0.0000	0.0000	NUM
framr-1725	156	155	)	)	PUNCT
framr-1725	156	156	0.526422	0.526422	NUM
framr-1725	156	157	(	(	PUNCT
framr-1725	156	158	0.0000	0.0000	NUM
framr-1725	156	159	)	)	PUNCT
framr-1725	156	160	5	5	NUM
framr-1725	156	161	0.112196	0.112196	NUM
framr-1725	156	162	(	(	PUNCT
framr-1725	156	163	0.0000	0.0000	NUM
framr-1725	156	164	)	)	PUNCT
framr-1725	156	165	0.120470	0.120470	NUM
framr-1725	156	166	(	(	PUNCT
framr-1725	156	167	0.0000	0.0000	NUM
framr-1725	156	168	)	)	PUNCT
framr-1725	156	169	0.112003	0.112003	NUM
framr-1725	156	170	(	(	PUNCT
framr-1725	156	171	0.0000	0.0000	NUM
framr-1725	156	172	)	)	PUNCT
framr-1725	156	173	0.203948	0.203948	NUM
framr-1725	156	174	(	(	PUNCT
framr-1725	156	175	0.0000	0.0000	NUM
framr-1725	156	176	)	)	PUNCT
framr-1725	156	177	0.146547	0.146547	NUM
framr-1725	156	178	(	(	PUNCT
framr-1725	156	179	0.0000	0.0000	NUM
framr-1725	156	180	)	)	PUNCT
framr-1725	156	181	0.194116	0.194116	NUM
framr-1725	156	182	(	(	PUNCT
framr-1725	156	183	0.00000	0.00000	NUM
framr-1725	156	184	notes	note	VERB
framr-1725	156	185	:	:	PUNCT
framr-1725	156	186	values	value	NOUN
framr-1725	156	187	in	in	ADP
framr-1725	156	188	parenthesis	parenthesis	NOUN
framr-1725	156	189	are	be	AUX
framr-1725	156	190	p	p	NOUN
framr-1725	156	191	-	-	PUNCT
framr-1725	156	192	values	value	NOUN
framr-1725	156	193	lower	low	ADJ
framr-1725	156	194	than	than	ADP
framr-1725	156	195	the	the	DET
framr-1725	156	196	1	1	NUM
framr-1725	156	197	%	%	NOUN
framr-1725	156	198	level	level	NOUN
framr-1725	156	199	of	of	ADP
framr-1725	156	200	significance	significance	NOUN
framr-1725	156	201	.	.	PUNCT
framr-1725	157	1	the	the	DET
framr-1725	157	2	return	return	NOUN
framr-1725	157	3	series	series	NOUN
framr-1725	157	4	were	be	AUX
framr-1725	157	5	tested	test	VERB
framr-1725	157	6	for	for	ADP
framr-1725	157	7	stationarity	stationarity	NOUN
framr-1725	157	8	using	use	VERB
framr-1725	157	9	36	36	NUM
framr-1725	157	10	lags	lag	NOUN
framr-1725	157	11	as	as	ADP
framr-1725	157	12	a	a	DET
framr-1725	157	13	result	result	NOUN
framr-1725	157	14	of	of	ADP
framr-1725	157	15	the	the	DET
framr-1725	157	16	weekly	weekly	ADJ
framr-1725	157	17	returns	return	NOUN
framr-1725	157	18	being	be	AUX
framr-1725	157	19	employed	employ	VERB
framr-1725	157	20	.	.	PUNCT
framr-1725	158	1	according	accord	VERB
framr-1725	158	2	to	to	ADP
framr-1725	158	3	brooks	brooks	PROPN
framr-1725	158	4	et	et	PROPN
framr-1725	158	5	al	al	PROPN
framr-1725	158	6	.	.	PROPN
framr-1725	159	1	(	(	PUNCT
framr-1725	159	2	2005	2005	NUM
framr-1725	159	3	)	)	PUNCT
framr-1725	159	4	if	if	SCONJ
framr-1725	159	5	the	the	DET
framr-1725	159	6	data	datum	NOUN
framr-1725	159	7	are	be	AUX
framr-1725	159	8	monthly	monthly	ADJ
framr-1725	159	9	,	,	PUNCT
framr-1725	159	10	use	use	VERB
framr-1725	159	11	12	12	NUM
framr-1725	159	12	lags	lag	NOUN
framr-1725	159	13	,	,	PUNCT
framr-1725	159	14	if	if	SCONJ
framr-1725	159	15	the	the	DET
framr-1725	159	16	data	datum	NOUN
framr-1725	159	17	are	be	AUX
framr-1725	159	18	quarterly	quarterly	ADJ
framr-1725	159	19	,	,	PUNCT
framr-1725	159	20	use	use	VERB
framr-1725	159	21	4	4	NUM
framr-1725	159	22	lags	lag	NOUN
framr-1725	159	23	and	and	CCONJ
framr-1725	159	24	so	so	ADV
framr-1725	159	25	on	on	ADV
framr-1725	159	26	.	.	PUNCT
framr-1725	160	1	but	but	CCONJ
framr-1725	160	2	in	in	ADP
framr-1725	160	3	order	order	NOUN
framr-1725	160	4	to	to	PART
framr-1725	160	5	make	make	VERB
framr-1725	160	6	our	our	PRON
framr-1725	160	7	work	work	NOUN
framr-1725	160	8	simple	simple	NOUN
framr-1725	160	9	,	,	PUNCT
framr-1725	160	10	we	we	PRON
framr-1725	160	11	decided	decide	VERB
framr-1725	160	12	to	to	PART
framr-1725	160	13	illustrate	illustrate	VERB
framr-1725	160	14	5	5	NUM
framr-1725	160	15	lags	lag	NOUN
framr-1725	160	16	in	in	ADP
framr-1725	160	17	the	the	DET
framr-1725	160	18	table	table	NOUN
framr-1725	160	19	above	above	ADV
framr-1725	160	20	.	.	PUNCT
framr-1725	161	1	based	base	VERB
framr-1725	161	2	on	on	ADP
framr-1725	161	3	these	these	PRON
framr-1725	161	4	,	,	PUNCT
framr-1725	161	5	we	we	PRON
framr-1725	161	6	decided	decide	VERB
framr-1725	161	7	to	to	PART
framr-1725	161	8	use	use	VERB
framr-1725	161	9	36	36	NUM
framr-1725	161	10	lags	lag	NOUN
framr-1725	161	11	being	be	AUX
framr-1725	161	12	that	that	SCONJ
framr-1725	161	13	the	the	DET
framr-1725	161	14	data	datum	NOUN
framr-1725	161	15	are	be	AUX
framr-1725	161	16	weekly	weekly	ADJ
framr-1725	161	17	.	.	PUNCT
framr-1725	162	1	from	from	ADP
framr-1725	162	2	table	table	NOUN
framr-1725	162	3	4.1.2	4.1.2	NUM
framr-1725	162	4	,	,	PUNCT
framr-1725	162	5	since	since	SCONJ
framr-1725	162	6	the	the	DET
framr-1725	162	7	adf	adf	PROPN
framr-1725	162	8	test	test	NOUN
framr-1725	162	9	statistics	statistic	NOUN
framr-1725	162	10	has	have	VERB
framr-1725	162	11	p	p	NOUN
framr-1725	162	12	-	-	PUNCT
framr-1725	162	13	values	value	NOUN
framr-1725	162	14	lower	low	ADJ
framr-1725	162	15	than	than	ADP
framr-1725	162	16	the	the	DET
framr-1725	162	17	1	1	NUM
framr-1725	162	18	%	%	NOUN
framr-1725	162	19	level	level	NOUN
framr-1725	162	20	of	of	ADP
framr-1725	162	21	significance	significance	NOUN
framr-1725	162	22	,	,	PUNCT
framr-1725	162	23	we	we	PRON
framr-1725	162	24	reject	reject	VERB
framr-1725	162	25	the	the	DET
framr-1725	162	26	null	null	ADJ
framr-1725	162	27	hypothesis	hypothesis	NOUN
framr-1725	162	28	of	of	ADP
framr-1725	162	29	unit	unit	NOUN
framr-1725	162	30	root	root	NOUN
framr-1725	162	31	and	and	CCONJ
framr-1725	162	32	conclude	conclude	VERB
framr-1725	162	33	that	that	SCONJ
framr-1725	162	34	there	there	PRON
framr-1725	162	35	is	be	VERB
framr-1725	162	36	no	no	DET
framr-1725	162	37	unit	unit	NOUN
framr-1725	162	38	root	root	NOUN
framr-1725	162	39	and	and	CCONJ
framr-1725	162	40	hence	hence	ADV
framr-1725	162	41	returns	return	VERB
framr-1725	162	42	series	series	NOUN
framr-1725	162	43	are	be	AUX
framr-1725	162	44	stationary	stationary	ADJ
framr-1725	162	45	.	.	PUNCT
framr-1725	163	1	4.2	4.2	NUM
framr-1725	163	2	.	.	X
framr-1725	163	3	ar	ar	PROPN
framr-1725	163	4	(	(	PUNCT
framr-1725	163	5	m	m	NOUN
framr-1725	163	6	)	)	PUNCT
framr-1725	163	7	model	model	NOUN
framr-1725	163	8	building	building	NOUN
framr-1725	163	9	model	model	NOUN
framr-1725	163	10	identification	identification	NOUN
framr-1725	163	11	we	we	PRON
framr-1725	163	12	used	use	VERB
framr-1725	163	13	the	the	DET
framr-1725	163	14	akaike	akaike	NOUN
framr-1725	163	15	and	and	CCONJ
framr-1725	163	16	the	the	DET
framr-1725	163	17	schwartz	schwartz	PROPN
framr-1725	163	18	information	information	NOUN
framr-1725	163	19	criteria	criterion	NOUN
framr-1725	163	20	to	to	PART
framr-1725	163	21	determine	determine	VERB
framr-1725	163	22	the	the	DET
framr-1725	163	23	order	order	NOUN
framr-1725	163	24	of	of	ADP
framr-1725	163	25	the	the	DET
framr-1725	163	26	model	model	NOUN
framr-1725	163	27	to	to	PART
framr-1725	163	28	employ	employ	VERB
framr-1725	163	29	.	.	PUNCT
framr-1725	164	1	the	the	DET
framr-1725	164	2	rejection	rejection	NOUN
framr-1725	164	3	of	of	ADP
framr-1725	164	4	the	the	DET
framr-1725	164	5	null	null	ADJ
framr-1725	164	6	hypothesis	hypothesis	NOUN
framr-1725	164	7	of	of	ADP
framr-1725	164	8	non	non	ADJ
framr-1725	164	9	stationarity	stationarity	NOUN
framr-1725	164	10	makes	make	VERB
framr-1725	164	11	it	it	PRON
framr-1725	164	12	reasonable	reasonable	ADJ
framr-1725	164	13	to	to	PART
framr-1725	164	14	proceed	proceed	VERB
framr-1725	164	15	to	to	ADP
framr-1725	164	16	the	the	DET
framr-1725	164	17	model	model	NOUN
framr-1725	164	18	specification	specification	NOUN
framr-1725	164	19	.	.	PUNCT
framr-1725	165	1	table-4.2.1	table-4.2.1	NUM
framr-1725	165	2	.	.	PUNCT
framr-1725	166	1	akaike	akaike	ADJ
framr-1725	166	2	and	and	CCONJ
framr-1725	166	3	schwartz	schwartz	PROPN
framr-1725	166	4	bayesian	bayesian	NOUN
framr-1725	166	5	information	information	NOUN
framr-1725	166	6	criteria	criterion	NOUN
framr-1725	166	7	of	of	ADP
framr-1725	166	8	the	the	DET
framr-1725	166	9	first	first	ADJ
framr-1725	166	10	subsamples	subsample	NOUN
framr-1725	166	11	.	.	PUNCT
framr-1725	167	1	dow	dow	PROPN
framr-1725	167	2	jones	jones	PROPN
framr-1725	167	3	indus	indus	PROPN
framr-1725	167	4	1989	1989	NUM
framr-1725	167	5	-	-	SYM
framr-1725	167	6	1999	1999	NUM
framr-1725	167	7	ftse	ftse	NOUN
framr-1725	167	8	100	100	NUM
framr-1725	167	9	1989	1989	NUM
framr-1725	167	10	-	-	SYM
framr-1725	167	11	1999	1999	NUM
framr-1725	167	12	nikkei	nikkei	NOUN
framr-1725	167	13	225	225	NUM
framr-1725	167	14	1989	1989	NUM
framr-1725	167	15	-	-	SYM
framr-1725	167	16	1999	1999	NUM
framr-1725	167	17	lag	lag	NOUN
framr-1725	167	18	aic	aic	PROPN
framr-1725	167	19	sbic	sbic	PROPN
framr-1725	167	20	aic	aic	PROPN
framr-1725	167	21	sbic	sbic	PROPN
framr-1725	167	22	aic	aic	PROPN
framr-1725	167	23	sbic	sbic	PROPN
framr-1725	167	24	0	0	NUM
framr-1725	167	25	-6.600140	-6.600140	ADJ
framr-1725	167	26	*	*	PUNCT
framr-1725	167	27	-6.597823	-6.597823	PROPN
framr-1725	167	28	*	*	PROPN
framr-1725	167	29	-6.599418	-6.599418	PROPN
framr-1725	167	30	-6.597107	-6.597107	PROPN
framr-1725	167	31	-5.568396	-5.568396	VERB
framr-1725	167	32	-5.566042	-5.566042	X
framr-1725	168	1	1	1	NUM
framr-1725	168	2	-6.599403	-6.599403	NOUN
framr-1725	168	3	-6.594769	-6.594769	NOUN
framr-1725	168	4	-6.605291	-6.605291	PROPN
framr-1725	168	5	-6.600667	-6.600667	PROPN
framr-1725	168	6	*	*	PUNCT
framr-1725	168	7	-5.567375	-5.567375	INTJ
framr-1725	168	8	-5.562665	-5.562665	ADJ
framr-1725	168	9	2	2	NUM
framr-1725	168	10	-6.598964	-6.598964	NOUN
framr-1725	168	11	-6.592010	-6.592010	PROPN
framr-1725	168	12	-6.604955	-6.604955	PROPN
framr-1725	168	13	-6.598017	-6.598017	ADV
framr-1725	168	14	-5.574370	-5.574370	PROPN
framr-1725	168	15	*	*	PUNCT
framr-1725	169	1	-5.567304	-5.567304	PUNCT
framr-1725	169	2	*	*	SYM
framr-1725	169	3	3	3	NUM
framr-1725	169	4	-6.599120	-6.599120	NOUN
framr-1725	169	5	-6.589845	-6.589845	NOUN
framr-1725	169	6	-6.605395	-6.605395	PROPN
framr-1725	169	7	-6.596141	-6.596141	PROPN
framr-1725	169	8	-5.573830	-5.573830	PUNCT
framr-1725	170	1	-5.564405	-5.564405	PROPN
framr-1725	170	2	4	4	NUM
framr-1725	170	3	-6.598522	-6.598522	NOUN
framr-1725	170	4	-6.586924	-6.586924	NOUN
framr-1725	170	5	-6.604755	-6.604755	NOUN
framr-1725	170	6	-6.593184	-6.593184	PROPN
framr-1725	171	1	-5.572675	-5.572675	ADJ
framr-1725	171	2	-5.560891	-5.560891	ADV
framr-1725	171	3	5	5	NUM
framr-1725	171	4	-6.597365	-6.597365	NOUN
framr-1725	171	5	-6.583443	-6.583443	PROPN
framr-1725	171	6	-6.605677	-6.605677	PROPN
framr-1725	172	1	-6.591787	-6.591787	PROPN
framr-1725	172	2	-5.571529	-5.571529	PROPN
framr-1725	172	3	-5.557382	-5.557382	PROPN
framr-1725	172	4	6	6	NUM
framr-1725	172	5	-6.596421	-6.596421	NOUN
framr-1725	172	6	-6.580172	-6.580172	NOUN
framr-1725	172	7	-6.605632	-6.605632	PROPN
framr-1725	173	1	-6.589421	-6.589421	NOUN
framr-1725	173	2	-5.571612	-5.571612	PROPN
framr-1725	173	3	-5.555102	-5.555102	PROPN
framr-1725	173	4	7	7	NUM
framr-1725	173	5	-6.598028	-6.598028	NOUN
framr-1725	173	6	-6.579452	-6.579452	VERB
framr-1725	173	7	-6.607450	-6.607450	PROPN
framr-1725	173	8	-6.588918	-6.588918	PROPN
framr-1725	173	9	-5.570536	-5.570536	PROPN
framr-1725	173	10	-5.551661	-5.551661	NOUN
framr-1725	173	11	8	8	NUM
framr-1725	173	12	-6.597738	-6.597738	NOUN
framr-1725	173	13	-6.576834	-6.576834	NOUN
framr-1725	173	14	-6.607472	-6.607472	X
framr-1725	173	15	*	*	PUNCT
framr-1725	173	16	-6.586616	-6.586616	PROPN
framr-1725	173	17	-5.570540	-5.570540	PROPN
framr-1725	173	18	-5.549299	-5.549299	PROPN
framr-1725	174	1	the	the	PRON
framr-1725	174	2	*	*	PUNCT
framr-1725	174	3	represents	represent	VERB
framr-1725	174	4	aic	aic	PROPN
framr-1725	174	5	or	or	CCONJ
framr-1725	174	6	sbic	sbic	ADJ
framr-1725	174	7	with	with	ADP
framr-1725	174	8	the	the	DET
framr-1725	174	9	lowest	low	ADJ
framr-1725	174	10	value	value	NOUN
framr-1725	174	11	.	.	PUNCT
framr-1725	175	1	from	from	ADP
framr-1725	175	2	table	table	NOUN
framr-1725	175	3	4.2.1	4.2.1	NUM
framr-1725	175	4	in	in	ADP
framr-1725	175	5	the	the	DET
framr-1725	175	6	first	first	ADJ
framr-1725	175	7	sub	sub	NOUN
framr-1725	175	8	sample	sample	NOUN
framr-1725	175	9	,	,	PUNCT
framr-1725	175	10	the	the	DET
framr-1725	175	11	akaike	akaike	NOUN
framr-1725	175	12	and	and	CCONJ
framr-1725	175	13	the	the	DET
framr-1725	175	14	schwartz	schwartz	PROPN
framr-1725	175	15	suggest	suggest	VERB
framr-1725	175	16	ar	ar	PROPN
framr-1725	175	17	(	(	PUNCT
framr-1725	175	18	0	0	NUM
framr-1725	175	19	)	)	PUNCT
framr-1725	175	20	,	,	PUNCT
framr-1725	175	21	since	since	SCONJ
framr-1725	175	22	it	it	PRON
framr-1725	175	23	represents	represent	VERB
framr-1725	175	24	the	the	DET
framr-1725	175	25	value	value	NOUN
framr-1725	175	26	with	with	ADP
framr-1725	175	27	the	the	DET
framr-1725	175	28	lowest	low	ADJ
framr-1725	175	29	aic	aic	PROPN
framr-1725	175	30	and	and	CCONJ
framr-1725	175	31	sbic	sbic	NOUN
framr-1725	175	32	.	.	PUNCT
framr-1725	176	1	the	the	DET
framr-1725	176	2	pacf	pacf	NOUN
framr-1725	176	3	for	for	ADP
framr-1725	176	4	the	the	DET
framr-1725	176	5	dow	dow	PROPN
framr-1725	176	6	jones	jones	PROPN
framr-1725	176	7	indus	indus	PROPN
framr-1725	176	8	suggest	suggest	VERB
framr-1725	176	9	ar(1	ar(1	PROPN
framr-1725	176	10	)	)	PUNCT
framr-1725	176	11	while	while	SCONJ
framr-1725	176	12	the	the	DET
framr-1725	176	13	information	information	NOUN
framr-1725	176	14	criteria	criterion	NOUN
framr-1725	176	15	suggest	suggest	VERB
framr-1725	176	16	ar	ar	PROPN
framr-1725	176	17	(	(	PUNCT
framr-1725	176	18	0	0	NUM
framr-1725	176	19	)	)	PUNCT
framr-1725	176	20	,	,	PUNCT
framr-1725	176	21	but	but	CCONJ
framr-1725	176	22	following	follow	VERB
framr-1725	176	23	akgiray	akgiray	PROPN
framr-1725	176	24	(	(	PUNCT
framr-1725	176	25	1989	1989	NUM
framr-1725	176	26	)	)	PUNCT
framr-1725	176	27	he	he	PRON
framr-1725	176	28	decided	decide	VERB
framr-1725	176	29	to	to	PART
framr-1725	176	30	choose	choose	VERB
framr-1725	176	31	ar(1)for	ar(1)for	ADP
framr-1725	176	32	his	his	PRON
framr-1725	176	33	sample	sample	NOUN
framr-1725	176	34	despite	despite	SCONJ
framr-1725	176	35	the	the	DET
framr-1725	176	36	fact	fact	NOUN
framr-1725	176	37	that	that	SCONJ
framr-1725	176	38	the	the	DET
framr-1725	176	39	aic	aic	PROPN
framr-1725	176	40	and	and	CCONJ
framr-1725	176	41	sbic	sbic	NOUN
framr-1725	176	42	suggests	suggest	VERB
framr-1725	176	43	ar(0	ar(0	PROPN
framr-1725	176	44	)	)	PUNCT
framr-1725	176	45	.	.	PUNCT
framr-1725	177	1	financial	financial	ADJ
framr-1725	177	2	risk	risk	NOUN
framr-1725	177	3	and	and	CCONJ
framr-1725	177	4	management	management	NOUN
framr-1725	177	5	reviews	review	NOUN
framr-1725	177	6	,	,	PUNCT
framr-1725	177	7	2018	2018	NUM
framr-1725	177	8	,	,	PUNCT
framr-1725	177	9	4(1	4(1	NOUN
framr-1725	177	10	):	):	PUNCT
framr-1725	177	11	1	1	NUM
framr-1725	177	12	-	-	SYM
framr-1725	177	13	23	23	NUM
framr-1725	177	14	8	8	NUM
framr-1725	177	15	©	©	PROPN
framr-1725	177	16	2018	2018	NUM
framr-1725	177	17	conscientia	conscientia	PROPN
framr-1725	177	18	beam	beam	PROPN
framr-1725	177	19	.	.	PUNCT
framr-1725	178	1	all	all	DET
framr-1725	178	2	rights	right	NOUN
framr-1725	178	3	reserved	reserve	VERB
framr-1725	178	4	.	.	PUNCT
framr-1725	179	1	we	we	PRON
framr-1725	179	2	therefore	therefore	ADV
framr-1725	179	3	modelled	model	VERB
framr-1725	179	4	our	our	PRON
framr-1725	179	5	autoregressive	autoregressive	ADJ
framr-1725	179	6	model	model	NOUN
framr-1725	179	7	based	base	VERB
framr-1725	179	8	on	on	ADP
framr-1725	179	9	the	the	DET
framr-1725	179	10	information	information	NOUN
framr-1725	179	11	criteria	criterion	NOUN
framr-1725	179	12	with	with	ADP
framr-1725	179	13	the	the	DET
framr-1725	179	14	lowest	low	ADJ
framr-1725	179	15	value	value	NOUN
framr-1725	179	16	and	and	CCONJ
framr-1725	179	17	in	in	ADP
framr-1725	179	18	some	some	DET
framr-1725	179	19	cases	case	NOUN
framr-1725	179	20	where	where	SCONJ
framr-1725	179	21	the	the	DET
framr-1725	179	22	aic	aic	PROPN
framr-1725	179	23	suggest	suggest	VERB
framr-1725	179	24	too	too	ADV
framr-1725	179	25	many	many	ADJ
framr-1725	179	26	lag	lag	NOUN
framr-1725	179	27	say	say	VERB
framr-1725	179	28	ar(8	ar(8	NOUN
framr-1725	179	29	)	)	PUNCT
framr-1725	179	30	,	,	PUNCT
framr-1725	179	31	like	like	ADP
framr-1725	179	32	in	in	ADP
framr-1725	179	33	the	the	DET
framr-1725	179	34	dow	dow	PROPN
framr-1725	179	35	jones	jones	PROPN
framr-1725	179	36	industrial	industrial	PROPN
framr-1725	179	37	index	index	NOUN
framr-1725	179	38	in	in	ADP
framr-1725	179	39	the	the	DET
framr-1725	179	40	second	second	ADJ
framr-1725	179	41	sample	sample	NOUN
framr-1725	179	42	of	of	ADP
framr-1725	179	43	table	table	NOUN
framr-1725	179	44	4.2.2	4.2.2	NUM
framr-1725	179	45	,	,	PUNCT
framr-1725	179	46	instead	instead	ADV
framr-1725	179	47	we	we	PRON
framr-1725	179	48	decided	decide	VERB
framr-1725	179	49	to	to	PART
framr-1725	179	50	choose	choose	VERB
framr-1725	179	51	ar(2	ar(2	NOUN
framr-1725	179	52	)	)	PUNCT
framr-1725	179	53	suggested	suggest	VERB
framr-1725	179	54	by	by	ADP
framr-1725	179	55	the	the	DET
framr-1725	179	56	sbic	sbic	NOUN
framr-1725	179	57	.	.	PUNCT
framr-1725	180	1	the	the	DET
framr-1725	180	2	motivation	motivation	NOUN
framr-1725	180	3	for	for	ADP
framr-1725	180	4	this	this	PRON
framr-1725	180	5	is	be	AUX
framr-1725	180	6	that	that	SCONJ
framr-1725	180	7	we	we	PRON
framr-1725	180	8	are	be	AUX
framr-1725	180	9	trying	try	VERB
framr-1725	180	10	to	to	PART
framr-1725	180	11	keep	keep	VERB
framr-1725	180	12	our	our	PRON
framr-1725	180	13	model	model	NOUN
framr-1725	180	14	as	as	ADV
framr-1725	180	15	parsimonious	parsimonious	ADJ
framr-1725	180	16	as	as	ADP
framr-1725	180	17	possible	possible	ADJ
framr-1725	180	18	and	and	CCONJ
framr-1725	180	19	also	also	ADV
framr-1725	180	20	in	in	ADP
framr-1725	180	21	some	some	DET
framr-1725	180	22	researches	research	NOUN
framr-1725	180	23	,	,	PUNCT
framr-1725	180	24	the	the	DET
framr-1725	180	25	sic	sic	NOUN
framr-1725	180	26	has	have	AUX
framr-1725	180	27	proven	prove	VERB
framr-1725	180	28	to	to	PART
framr-1725	180	29	suggest	suggest	VERB
framr-1725	180	30	a	a	DET
framr-1725	180	31	better	well	ADJ
framr-1725	180	32	order	order	NOUN
framr-1725	180	33	for	for	ADP
framr-1725	180	34	ar	ar	NOUN
framr-1725	180	35	models	model	NOUN
framr-1725	180	36	than	than	ADP
framr-1725	180	37	the	the	DET
framr-1725	180	38	aic	aic	PROPN
framr-1725	180	39	.	.	PROPN
framr-1725	181	1	see	see	VERB
framr-1725	181	2	(	(	PUNCT
framr-1725	181	3	brooks	brooks	PROPN
framr-1725	181	4	et	et	PROPN
framr-1725	181	5	al	al	PROPN
framr-1725	181	6	.	.	PROPN
framr-1725	181	7	,	,	PUNCT
framr-1725	181	8	2005	2005	NUM
framr-1725	181	9	)	)	PUNCT
framr-1725	181	10	.	.	PUNCT
framr-1725	182	1	table-4.2.2	table-4.2.2	NUM
framr-1725	182	2	.	.	PUNCT
framr-1725	183	1	akaike	akaike	ADJ
framr-1725	183	2	and	and	CCONJ
framr-1725	183	3	schwartz	schwartz	PROPN
framr-1725	183	4	bayesian	bayesian	NOUN
framr-1725	183	5	information	information	NOUN
framr-1725	183	6	criteria	criterion	NOUN
framr-1725	183	7	of	of	ADP
framr-1725	183	8	the	the	DET
framr-1725	183	9	second	second	ADJ
framr-1725	183	10	subsample	subsample	NOUN
framr-1725	183	11	.	.	PUNCT
framr-1725	184	1	dow	dow	PROPN
framr-1725	184	2	jones	jones	PROPN
framr-1725	184	3	indus	indus	PROPN
framr-1725	184	4	1999	1999	NUM
framr-1725	184	5	-	-	SYM
framr-1725	184	6	2009	2009	NUM
framr-1725	184	7	ftse	ftse	NOUN
framr-1725	184	8	100	100	NUM
framr-1725	184	9	1999	1999	NUM
framr-1725	184	10	-	-	SYM
framr-1725	184	11	2009	2009	NUM
framr-1725	184	12	nikkei	nikkei	NOUN
framr-1725	184	13	225	225	NUM
framr-1725	184	14	1999	1999	NUM
framr-1725	184	15	-	-	SYM
framr-1725	184	16	2009	2009	NUM
framr-1725	184	17	lag	lag	NOUN
framr-1725	184	18	aic	aic	PROPN
framr-1725	184	19	sbic	sbic	PROPN
framr-1725	184	20	aic	aic	PROPN
framr-1725	184	21	sbic	sbic	PROPN
framr-1725	184	22	aic	aic	PROPN
framr-1725	184	23	sbic	sbic	PROPN
framr-1725	184	24	0	0	NUM
framr-1725	184	25	-5.836983	-5.836983	PROPN
framr-1725	184	26	-5.834665	-5.834665	NOUN
framr-1725	184	27	-5.786470	-5.786470	NOUN
framr-1725	184	28	-5.784164	-5.784164	NOUN
framr-1725	184	29	-5.407093	-5.407093	PROPN
framr-1725	184	30	*	*	PUNCT
framr-1725	185	1	-5.404732	-5.404732	PROPN
framr-1725	185	2	*	*	SYM
framr-1725	185	3	1	1	NUM
framr-1725	185	4	-5.841630	-5.841630	NOUN
framr-1725	185	5	-5.836992	-5.836992	NOUN
framr-1725	185	6	-5.789847	-5.789847	PROPN
framr-1725	185	7	-5.785234	-5.785234	PROPN
framr-1725	185	8	-5.406985	-5.406985	X
framr-1725	185	9	-5.402263	-5.402263	PROPN
framr-1725	185	10	2	2	NUM
framr-1725	185	11	-5.846672	-5.846672	NOUN
framr-1725	185	12	-5.839713	-5.839713	NOUN
framr-1725	185	13	*	*	PUNCT
framr-1725	185	14	-5.792963	-5.792963	PROPN
framr-1725	185	15	-5.786041	-5.786041	PROPN
framr-1725	185	16	-5.406392	-5.406392	PROPN
framr-1725	185	17	-5.399307	-5.399307	NOUN
framr-1725	186	1	3	3	NUM
framr-1725	186	2	-5.848573	-5.848573	NOUN
framr-1725	186	3	-5.839291	-5.839291	PROPN
framr-1725	186	4	-5.800910	-5.800910	PROPN
framr-1725	186	5	-5.791677	-5.791677	PROPN
framr-1725	186	6	-5.406296	-5.406296	PROPN
framr-1725	186	7	-5.396846	-5.396846	NOUN
framr-1725	186	8	4	4	NUM
framr-1725	186	9	-5.847438	-5.847438	ADV
framr-1725	186	10	-5.835833	-5.835833	X
framr-1725	186	11	-5.805403	-5.805403	PROPN
framr-1725	187	1	-5.793858	-5.793858	PROPN
framr-1725	187	2	-5.405245	-5.405245	PUNCT
framr-1725	187	3	-5.393429	-5.393429	PROPN
framr-1725	188	1	5	5	NUM
framr-1725	188	2	-5.848652	-5.848652	PROPN
framr-1725	188	3	-5.834720	-5.834720	NOUN
framr-1725	188	4	-5.807617	-5.807617	PROPN
framr-1725	188	5	-5.793759	-5.793759	PROPN
framr-1725	189	1	-5.405194	-5.405194	PROPN
framr-1725	189	2	-5.391010	-5.391010	PROPN
framr-1725	190	1	6	6	NUM
framr-1725	190	2	-5.847546	-5.847546	NOUN
framr-1725	190	3	-5.831287	-5.831287	NOUN
framr-1725	190	4	-5.810867	-5.810867	NOUN
framr-1725	190	5	-5.794693	-5.794693	PUNCT
framr-1725	191	1	*	*	PUNCT
framr-1725	191	2	-5.404694	-5.404694	PROPN
framr-1725	191	3	-5.388140	-5.388140	PROPN
framr-1725	191	4	7	7	NUM
framr-1725	191	5	-5.848213	-5.848213	PROPN
framr-1725	192	1	-5.829625	-5.829625	PROPN
framr-1725	192	2	-5.810481	-5.810481	PROPN
framr-1725	192	3	-5.791991	-5.791991	PROPN
framr-1725	193	1	-5.404949	-5.404949	PUNCT
framr-1725	193	2	-5.386024	-5.386024	NOUN
framr-1725	194	1	8	8	NUM
framr-1725	194	2	-5.848694	-5.848694	NOUN
framr-1725	194	3	*	*	PUNCT
framr-1725	194	4	-5.827776	-5.827776	PROPN
framr-1725	194	5	-5.811791	-5.811791	PROPN
framr-1725	194	6	*	*	PUNCT
framr-1725	194	7	-5.790983	-5.790983	NOUN
framr-1725	194	8	-5.403813	-5.403813	PROPN
framr-1725	194	9	-5.382514	-5.382514	PUNCT
framr-1725	195	1	the	the	PRON
framr-1725	195	2	*	*	PUNCT
framr-1725	195	3	represents	represent	VERB
framr-1725	195	4	aic	aic	PROPN
framr-1725	195	5	or	or	CCONJ
framr-1725	195	6	sbic	sbic	ADJ
framr-1725	195	7	with	with	ADP
framr-1725	195	8	the	the	DET
framr-1725	195	9	lowest	low	ADJ
framr-1725	195	10	value	value	NOUN
framr-1725	195	11	.	.	PUNCT
framr-1725	196	1	4.2.1	4.2.1	NUM
framr-1725	196	2	.	.	PUNCT
framr-1725	196	3	ar	ar	PROPN
framr-1725	196	4	(	(	PUNCT
framr-1725	196	5	m	m	NOUN
framr-1725	196	6	)	)	PUNCT
framr-1725	196	7	model	model	NOUN
framr-1725	196	8	estimation	estimation	NOUN
framr-1725	196	9	table-4.2.3	table-4.2.3	ADJ
framr-1725	196	10	.	.	PUNCT
framr-1725	197	1	ar	ar	PROPN
framr-1725	197	2	(	(	PUNCT
framr-1725	197	3	m	m	NOUN
framr-1725	197	4	)	)	PUNCT
framr-1725	197	5	modelols	modelol	NOUN
framr-1725	197	6	regression	regression	NOUN
framr-1725	197	7	coefficient	coefficient	NOUN
framr-1725	197	8	estimates	estimate	NOUN
framr-1725	197	9	notes	note	VERB
framr-1725	197	10	:	:	PUNCT
framr-1725	197	11	figures	figure	NOUN
framr-1725	197	12	in	in	ADP
framr-1725	197	13	parenthesis	parenthesis	NOUN
framr-1725	197	14	are	be	AUX
framr-1725	197	15	the	the	DET
framr-1725	197	16	p	p	NOUN
framr-1725	197	17	-	-	PUNCT
framr-1725	197	18	values	value	NOUN
framr-1725	197	19	.	.	PUNCT
framr-1725	198	1	dj	dj	X
framr-1725	198	2	-	-	ADJ
framr-1725	198	3	industrial	industrial	ADJ
framr-1725	198	4	ftse	ftse	NOUN
framr-1725	198	5	100	100	NUM
framr-1725	198	6	nikkei	nikkei	NOUN
framr-1725	198	7	225	225	NUM
framr-1725	198	8	stat	stat	PROPN
framr-1725	198	9	/	/	SYM
framr-1725	198	10	coeff	coeff	PROPN
framr-1725	198	11	19891999	19891999	NUM
framr-1725	198	12	19992009	19992009	NUM
framr-1725	198	13	stat	stat	PROPN
framr-1725	198	14	/	/	SYM
framr-1725	198	15	coeff	coeff	PROPN
framr-1725	198	16	19891999	19891999	NUM
framr-1725	198	17	1999	1999	NUM
framr-1725	198	18	-	-	SYM
framr-1725	198	19	2009	2009	NUM
framr-1725	198	20	stat	stat	NOUN
framr-1725	198	21	/	/	SYM
framr-1725	198	22	coeff	coeff	PROPN
framr-1725	198	23	19891999	19891999	NUM
framr-1725	198	24	19992009	19992009	NUM
framr-1725	198	25	0.000578	0.000578	NUM
framr-1725	198	26	(	(	PUNCT
framr-1725	198	27	0.0015	0.0015	NUM
framr-1725	198	28	)	)	PUNCT
framr-1725	198	29	-0.0001	-0.0001	NOUN
framr-1725	198	30	(	(	PUNCT
framr-1725	198	31	0.6524	0.6524	NUM
framr-1725	198	32	)	)	PUNCT
framr-1725	198	33	0.000441	0.000441	NUM
framr-1725	198	34	(	(	PUNCT
framr-1725	198	35	0.0227	0.0227	NUM
framr-1725	198	36	)	)	PUNCT
framr-1725	198	37	-0.000197	-0.000197	NOUN
framr-1725	198	38	(	(	PUNCT
framr-1725	198	39	0.3323	0.3323	NUM
framr-1725	198	40	)	)	PUNCT
framr-1725	198	41	-0.00029	-0.00029	NOUN
framr-1725	198	42	(	(	PUNCT
framr-1725	198	43	0.2859	0.2859	NUM
framr-1725	198	44	)	)	PUNCT
framr-1725	198	45	-0.0025	-0.0025	NOUN
framr-1725	198	46	(	(	PUNCT
framr-1725	198	47	0.4237	0.4237	NUM
framr-1725	198	48	)	)	PUNCT
framr-1725	199	1	0.019919	0.019919	NUM
framr-1725	199	2	(	(	PUNCT
framr-1725	199	3	0.3179	0.3179	NUM
framr-1725	199	4	)	)	PUNCT
framr-1725	199	5	-0.082	-0.082	X
framr-1725	199	6	(	(	PUNCT
framr-1725	199	7	0.000	0.000	NUM
framr-1725	199	8	)	)	PUNCT
framr-1725	199	9	0.083857	0.083857	NUM
framr-1725	199	10	(	(	PUNCT
framr-1725	199	11	0.000	0.000	NUM
framr-1725	199	12	)	)	PUNCT
framr-1725	199	13	-0.0667	-0.0667	NOUN
framr-1725	199	14	(	(	PUNCT
framr-1725	199	15	0.0008	0.0008	NUM
framr-1725	199	16	)	)	PUNCT
framr-1725	199	17	-0.00886	-0.00886	PUNCT
framr-1725	199	18	(	(	PUNCT
framr-1725	199	19	0.6585	0.6585	NUM
framr-1725	199	20	)	)	PUNCT
framr-1725	199	21	-0.03137	-0.03137	NOUN
framr-1725	199	22	(	(	PUNCT
framr-1725	199	23	0.1198	0.1198	NUM
framr-1725	199	24	)	)	PUNCT
framr-1725	199	25	-0.07676	-0.07676	PUNCT
framr-1725	199	26	(	(	PUNCT
framr-1725	199	27	0.0001	0.0001	NUM
framr-1725	199	28	)	)	PUNCT
framr-1725	199	29	-0.0659	-0.0659	NOUN
framr-1725	199	30	(	(	PUNCT
framr-1725	199	31	0.0009	0.0009	NUM
framr-1725	199	32	)	)	PUNCT
framr-1725	199	33	-0.0905	-0.0905	VERB
framr-1725	199	34	(	(	PUNCT
framr-1725	199	35	0.000	0.000	NUM
framr-1725	199	36	)	)	PUNCT
framr-1725	199	37	-0.0993	-0.0993	NOUN
framr-1725	199	38	(	(	PUNCT
framr-1725	199	39	0.000	0.000	NUM
framr-1725	199	40	)	)	PUNCT
framr-1725	199	41	0.06595	0.06595	NUM
framr-1725	199	42	(	(	PUNCT
framr-1725	199	43	0.0001	0.0001	NUM
framr-1725	199	44	)	)	PUNCT
framr-1725	199	45	-0.06246	-0.06246	NOUN
framr-1725	199	46	(	(	PUNCT
framr-1725	199	47	0.0018	0.0018	NUM
framr-1725	199	48	)	)	PUNCT
framr-1725	199	49	-0.0647	-0.0647	NOUN
framr-1725	199	50	(	(	PUNCT
framr-1725	199	51	0.0012	0.0012	NUM
framr-1725	199	52	)	)	PUNCT
framr-1725	199	53	f	f	NOUN
framr-1725	199	54	-	-	PUNCT
framr-1725	199	55	stat	stat	VERB
framr-1725	199	56	0.9978	0.9978	NUM
framr-1725	200	1	14.749	14.749	NUM
framr-1725	200	2	f	f	X
framr-1725	200	3	-	-	PUNCT
framr-1725	200	4	stat	stat	PROPN
framr-1725	200	5	17.85108	17.85108	NUM
framr-1725	200	6	12.9849	12.9849	NUM
framr-1725	200	7	f	f	X
framr-1725	200	8	-	-	PUNCT
framr-1725	200	9	stat	stat	NOUN
framr-1725	200	10	10.234	10.234	NUM
framr-1725	200	11	2.4216	2.4216	NUM
framr-1725	200	12	r	r	NOUN
framr-1725	200	13	-	-	PUNCT
framr-1725	200	14	square	square	ADJ
framr-1725	200	15	0.00039	0.00039	NUM
framr-1725	200	16	0.0116	0.0116	NUM
framr-1725	200	17	r	r	X
framr-1725	200	18	-	-	PUNCT
framr-1725	200	19	square	square	ADJ
framr-1725	200	20	0.00703	0.00703	NUM
framr-1725	200	21	0.03001	0.03001	NUM
framr-1725	200	22	r	r	NOUN
framr-1725	200	23	-	-	PUNCT
framr-1725	200	24	square	square	ADJ
framr-1725	200	25	0.008	0.008	NUM
framr-1725	200	26	0.00098	0.00098	NUM
framr-1725	200	27	dw	dw	NOUN
framr-1725	200	28	1.9987	1.9987	NUM
framr-1725	200	29	1.990	1.990	NUM
framr-1725	200	30	dw	dw	PROPN
framr-1725	200	31	1.995	1.995	NUM
framr-1725	200	32	1.995	1.995	NUM
framr-1725	200	33	dw	dw	PROPN
framr-1725	200	34	1.995	1.995	NUM
framr-1725	200	35	2.0016	2.0016	NUM
framr-1725	200	36	loglik	loglik	NOUN
framr-1725	200	37	8304.05	8304.05	NUM
framr-1725	200	38	7349.34	7349.34	NUM
framr-1725	200	39	loglik	loglik	NOUN
framr-1725	200	40	8334.574	8334.574	NUM
framr-1725	200	41	7343.22	7343.22	NUM
framr-1725	200	42	loglik	loglik	NOUN
framr-1725	200	43	6878.98	6878.98	NUM
framr-1725	200	44	6652.5	6652.5	NUM
framr-1725	200	45	4.2.2	4.2.2	NUM
framr-1725	200	46	.	.	PUNCT
framr-1725	201	1	diagnostic	diagnostic	ADJ
framr-1725	201	2	checks	check	NOUN
framr-1725	201	3	from	from	ADP
framr-1725	201	4	table	table	NOUN
framr-1725	201	5	4.2.3	4.2.3	NUM
framr-1725	201	6	,	,	PUNCT
framr-1725	201	7	the	the	DET
framr-1725	201	8	significance	significance	NOUN
framr-1725	201	9	of	of	ADP
framr-1725	201	10	the	the	DET
framr-1725	201	11	p	p	NOUN
framr-1725	201	12	value	value	NOUN
framr-1725	201	13	and	and	CCONJ
framr-1725	201	14	the	the	DET
framr-1725	201	15	high	high	ADJ
framr-1725	201	16	value	value	NOUN
framr-1725	201	17	of	of	ADP
framr-1725	201	18	the	the	DET
framr-1725	201	19	f	f	PROPN
framr-1725	201	20	-	-	PUNCT
framr-1725	201	21	statistics	statistic	NOUN
framr-1725	201	22	of	of	ADP
framr-1725	201	23	most	most	ADJ
framr-1725	201	24	of	of	ADP
framr-1725	201	25	the	the	DET
framr-1725	201	26	models	model	NOUN
framr-1725	201	27	shows	show	VERB
framr-1725	201	28	equations	equation	NOUN
framr-1725	201	29	are	be	AUX
framr-1725	201	30	well	well	ADV
framr-1725	201	31	specified	specify	VERB
framr-1725	201	32	.	.	PUNCT
framr-1725	202	1	but	but	CCONJ
framr-1725	202	2	there	there	PRON
framr-1725	202	3	are	be	VERB
framr-1725	202	4	cases	case	NOUN
framr-1725	202	5	where	where	SCONJ
framr-1725	202	6	the	the	DET
framr-1725	202	7	f	f	PROPN
framr-1725	202	8	-	-	PUNCT
framr-1725	202	9	statistics	statistic	NOUN
framr-1725	202	10	seems	seem	VERB
framr-1725	202	11	not	not	PART
framr-1725	202	12	to	to	PART
framr-1725	202	13	be	be	AUX
framr-1725	202	14	statistically	statistically	ADV
framr-1725	202	15	significant	significant	ADJ
framr-1725	202	16	and	and	CCONJ
framr-1725	202	17	this	this	PRON
framr-1725	202	18	can	can	AUX
framr-1725	202	19	be	be	AUX
framr-1725	202	20	seen	see	VERB
framr-1725	202	21	with	with	ADP
framr-1725	202	22	low	low	ADJ
framr-1725	202	23	insignificant	insignificant	ADJ
framr-1725	202	24	f	f	NOUN
framr-1725	202	25	-	-	PUNCT
framr-1725	202	26	statistic	statistic	NOUN
framr-1725	202	27	.	.	PUNCT
framr-1725	203	1	insignificant	insignificant	ADJ
framr-1725	203	2	f	f	PROPN
framr-1725	203	3	-	-	PUNCT
framr-1725	203	4	statistics	statistic	NOUN
framr-1725	203	5	are	be	AUX
framr-1725	203	6	observed	observe	VERB
framr-1725	203	7	in	in	ADP
framr-1725	203	8	dow	dow	PROPN
framr-1725	203	9	jones	jones	PROPN
framr-1725	203	10	industrial	industrial	PROPN
framr-1725	203	11	index	index	NOUN
framr-1725	203	12	of	of	ADP
framr-1725	203	13	the	the	DET
framr-1725	203	14	first	first	ADJ
framr-1725	203	15	subsample	subsample	NOUN
framr-1725	203	16	and	and	CCONJ
framr-1725	203	17	the	the	DET
framr-1725	203	18	nikkei	nikkei	PROPN
framr-1725	203	19	225	225	NUM
framr-1725	203	20	index	index	NOUN
framr-1725	203	21	of	of	ADP
framr-1725	203	22	the	the	DET
framr-1725	203	23	second	second	ADJ
framr-1725	203	24	subsample	subsample	NOUN
framr-1725	203	25	.	.	PUNCT
framr-1725	204	1	this	this	PRON
framr-1725	204	2	does	do	AUX
framr-1725	204	3	not	not	PART
framr-1725	204	4	matter	matter	VERB
framr-1725	204	5	much	much	ADV
framr-1725	204	6	as	as	SCONJ
framr-1725	204	7	most	most	ADJ
framr-1725	204	8	of	of	ADP
framr-1725	204	9	the	the	DET
framr-1725	204	10	other	other	ADJ
framr-1725	204	11	coefficients	coefficient	NOUN
framr-1725	204	12	were	be	AUX
framr-1725	204	13	statistically	statistically	ADV
framr-1725	204	14	significant	significant	ADJ
framr-1725	204	15	.	.	PUNCT
framr-1725	205	1	the	the	DET
framr-1725	205	2	r	r	NOUN
framr-1725	205	3	-	-	PUNCT
framr-1725	205	4	square	square	NOUN
framr-1725	205	5	of	of	ADP
framr-1725	205	6	most	most	ADJ
framr-1725	205	7	of	of	ADP
framr-1725	205	8	the	the	DET
framr-1725	205	9	subsamples	subsample	NOUN
framr-1725	205	10	were	be	AUX
framr-1725	205	11	less	less	ADJ
framr-1725	205	12	than	than	ADP
framr-1725	205	13	1	1	NUM
framr-1725	205	14	%	%	NOUN
framr-1725	205	15	,	,	PUNCT
framr-1725	205	16	except	except	SCONJ
framr-1725	205	17	for	for	ADP
framr-1725	205	18	two	two	NUM
framr-1725	205	19	cases	case	NOUN
framr-1725	205	20	where	where	SCONJ
framr-1725	205	21	they	they	PRON
framr-1725	205	22	went	go	VERB
framr-1725	205	23	above	above	ADP
framr-1725	205	24	1	1	NUM
framr-1725	205	25	%	%	NOUN
framr-1725	205	26	to	to	ADP
framr-1725	205	27	about	about	ADP
framr-1725	205	28	3	3	NUM
framr-1725	205	29	%	%	NOUN
framr-1725	205	30	.	.	PUNCT
framr-1725	206	1	it	it	PRON
framr-1725	206	2	was	be	AUX
framr-1725	206	3	1.1	1.1	NUM
framr-1725	206	4	%	%	NOUN
framr-1725	206	5	during	during	ADP
framr-1725	206	6	the	the	DET
framr-1725	206	7	second	second	ADJ
framr-1725	206	8	subsample	subsample	NOUN
framr-1725	206	9	of	of	ADP
framr-1725	206	10	the	the	DET
framr-1725	206	11	dow	dow	PROPN
framr-1725	206	12	jones	jones	PROPN
framr-1725	206	13	industrial	industrial	PROPN
framr-1725	206	14	index	index	NOUN
framr-1725	206	15	and	and	CCONJ
framr-1725	206	16	3	3	NUM
framr-1725	206	17	%	%	NOUN
framr-1725	206	18	during	during	ADP
framr-1725	206	19	the	the	DET
framr-1725	206	20	second	second	ADJ
framr-1725	206	21	financial	financial	ADJ
framr-1725	206	22	risk	risk	NOUN
framr-1725	206	23	and	and	CCONJ
framr-1725	206	24	management	management	NOUN
framr-1725	206	25	reviews	review	NOUN
framr-1725	206	26	,	,	PUNCT
framr-1725	206	27	2018	2018	NUM
framr-1725	206	28	,	,	PUNCT
framr-1725	206	29	4(1	4(1	NOUN
framr-1725	206	30	):	):	PUNCT
framr-1725	206	31	1	1	NUM
framr-1725	206	32	-	-	SYM
framr-1725	206	33	23	23	NUM
framr-1725	206	34	9	9	NUM
framr-1725	206	35	©	©	PROPN
framr-1725	206	36	2018	2018	NUM
framr-1725	206	37	conscientia	conscientia	PROPN
framr-1725	206	38	beam	beam	PROPN
framr-1725	206	39	.	.	PUNCT
framr-1725	207	1	all	all	DET
framr-1725	207	2	rights	right	NOUN
framr-1725	207	3	reserved	reserve	VERB
framr-1725	207	4	.	.	PUNCT
framr-1725	208	1	subsample	subsample	NOUN
framr-1725	208	2	of	of	ADP
framr-1725	208	3	the	the	DET
framr-1725	208	4	ftse	ftse	PROPN
framr-1725	208	5	100	100	NUM
framr-1725	208	6	index	index	NOUN
framr-1725	208	7	.	.	PUNCT
framr-1725	209	1	the	the	DET
framr-1725	209	2	r	r	NOUN
framr-1725	209	3	-	-	PUNCT
framr-1725	209	4	squares	square	NOUN
framr-1725	209	5	tend	tend	VERB
framr-1725	209	6	to	to	PART
framr-1725	209	7	increase	increase	VERB
framr-1725	209	8	during	during	ADP
framr-1725	209	9	the	the	DET
framr-1725	209	10	second	second	ADJ
framr-1725	209	11	subsamples	subsample	NOUN
framr-1725	209	12	of	of	ADP
framr-1725	209	13	the	the	DET
framr-1725	209	14	various	various	ADJ
framr-1725	209	15	indices	index	NOUN
framr-1725	209	16	,	,	PUNCT
framr-1725	209	17	and	and	CCONJ
framr-1725	209	18	this	this	PRON
framr-1725	209	19	might	might	AUX
framr-1725	209	20	be	be	AUX
framr-1725	209	21	as	as	ADP
framr-1725	209	22	a	a	DET
framr-1725	209	23	result	result	NOUN
framr-1725	209	24	of	of	ADP
framr-1725	209	25	the	the	DET
framr-1725	209	26	more	more	ADV
framr-1725	209	27	volatile	volatile	ADJ
framr-1725	209	28	periods	period	NOUN
framr-1725	209	29	(	(	PUNCT
framr-1725	209	30	the	the	DET
framr-1725	209	31	september	september	PROPN
framr-1725	209	32	11	11	NUM
framr-1725	209	33	attack	attack	NOUN
framr-1725	209	34	of	of	ADP
framr-1725	209	35	2001	2001	NUM
framr-1725	209	36	and	and	CCONJ
framr-1725	209	37	the	the	DET
framr-1725	209	38	recent	recent	ADJ
framr-1725	209	39	credit	credit	NOUN
framr-1725	209	40	crunch	crunch	NOUN
framr-1725	209	41	of	of	ADP
framr-1725	209	42	the	the	DET
framr-1725	209	43	last	last	ADJ
framr-1725	209	44	three	three	NUM
framr-1725	209	45	years	year	NOUN
framr-1725	209	46	)	)	PUNCT
framr-1725	209	47	.	.	PUNCT
framr-1725	210	1	durbin	durbin	ADJ
framr-1725	210	2	-	-	PUNCT
framr-1725	210	3	watson	watson	PROPN
framr-1725	210	4	the	the	DET
framr-1725	210	5	durbin	durbin	PROPN
framr-1725	210	6	-	-	PUNCT
framr-1725	210	7	watson	watson	NOUN
framr-1725	210	8	statistic	statistic	NOUN
framr-1725	210	9	for	for	ADP
framr-1725	210	10	all	all	DET
framr-1725	210	11	most	most	ADJ
framr-1725	210	12	all	all	DET
framr-1725	210	13	the	the	DET
framr-1725	210	14	models	model	NOUN
framr-1725	210	15	are	be	AUX
framr-1725	210	16	close	close	ADJ
framr-1725	210	17	to	to	ADP
framr-1725	210	18	2	2	NUM
framr-1725	210	19	,	,	PUNCT
framr-1725	210	20	leading	lead	VERB
framr-1725	210	21	to	to	ADP
framr-1725	210	22	the	the	DET
framr-1725	210	23	rejection	rejection	NOUN
framr-1725	210	24	of	of	ADP
framr-1725	210	25	the	the	DET
framr-1725	210	26	null	null	ADJ
framr-1725	210	27	hypothesis	hypothesis	NOUN
framr-1725	210	28	of	of	ADP
framr-1725	210	29	no	no	DET
framr-1725	210	30	serial	serial	ADJ
framr-1725	210	31	correlation	correlation	NOUN
framr-1725	210	32	of	of	ADP
framr-1725	210	33	the	the	DET
framr-1725	210	34	residuals	residual	NOUN
framr-1725	210	35	.	.	PUNCT
framr-1725	211	1	this	this	PRON
framr-1725	211	2	suggests	suggest	VERB
framr-1725	211	3	that	that	SCONJ
framr-1725	211	4	there	there	PRON
framr-1725	211	5	is	be	VERB
framr-1725	211	6	little	little	ADJ
framr-1725	211	7	evidence	evidence	NOUN
framr-1725	211	8	of	of	ADP
framr-1725	211	9	serial	serial	ADJ
framr-1725	211	10	correlation	correlation	NOUN
framr-1725	211	11	in	in	ADP
framr-1725	211	12	the	the	DET
framr-1725	211	13	models	model	NOUN
framr-1725	211	14	(	(	PUNCT
framr-1725	211	15	see	see	VERB
framr-1725	211	16	brooks	brooks	PROPN
framr-1725	211	17	et	et	PROPN
framr-1725	211	18	al	al	PROPN
framr-1725	211	19	.	.	PUNCT
framr-1725	212	1	(	(	PUNCT
framr-1725	212	2	2005	2005	NUM
framr-1725	212	3	)	)	PUNCT
framr-1725	212	4	)	)	PUNCT
framr-1725	212	5	.	.	PUNCT
framr-1725	213	1	table-4.3.1	table-4.3.1	NUM
framr-1725	213	2	.	.	PUNCT
framr-1725	213	3	arch	arch	PROPN
framr-1725	213	4	(	(	PUNCT
framr-1725	213	5	m	m	NOUN
framr-1725	213	6	)	)	PUNCT
framr-1725	213	7	model	model	NOUN
framr-1725	213	8	regression	regression	NOUN
framr-1725	213	9	coefficient	coefficient	NOUN
framr-1725	213	10	parameters	parameter	NOUN
framr-1725	213	11	.	.	PUNCT
framr-1725	214	1	dow	dow	PROPN
framr-1725	214	2	jones	jones	PROPN
framr-1725	214	3	indus	indus	PROPN
framr-1725	214	4	ftse	ftse	PROPN
framr-1725	214	5	100	100	NUM
framr-1725	214	6	nikkei	nikkei	PROPN
framr-1725	214	7	225	225	NUM
framr-1725	214	8	stat	stat	PROPN
framr-1725	214	9	/	/	SYM
framr-1725	214	10	coeff	coeff	PROPN
framr-1725	214	11	1989	1989	NUM
framr-1725	214	12	-	-	SYM
framr-1725	214	13	1999	1999	NUM
framr-1725	214	14	19992009	19992009	NUM
framr-1725	214	15	stat	stat	PROPN
framr-1725	214	16	/	/	SYM
framr-1725	214	17	coeff	coeff	PROPN
framr-1725	214	18	19891999	19891999	NUM
framr-1725	214	19	19992009	19992009	NUM
framr-1725	214	20	stat	stat	PROPN
framr-1725	214	21	/	/	SYM
framr-1725	214	22	coeff	coeff	PROPN
framr-1725	214	23	1989	1989	NUM
framr-1725	214	24	-	-	SYM
framr-1725	214	25	1999	1999	NUM
framr-1725	214	26	1999	1999	NUM
framr-1725	214	27	-	-	SYM
framr-1725	214	28	2009	2009	NUM
framr-1725	214	29	0.00079	0.00079	NUM
framr-1725	214	30	(	(	PUNCT
framr-1725	214	31	0.0000	0.0000	NUM
framr-1725	214	32	)	)	PUNCT
framr-1725	214	33	-0.0001	-0.0001	NOUN
framr-1725	214	34	(	(	PUNCT
framr-1725	214	35	0.6524	0.6524	NUM
framr-1725	214	36	)	)	PUNCT
framr-1725	214	37	0.000441	0.000441	NUM
framr-1725	214	38	(	(	PUNCT
framr-1725	214	39	0.0227	0.0227	NUM
framr-1725	214	40	)	)	PUNCT
framr-1725	214	41	-0.000197	-0.000197	NOUN
framr-1725	214	42	(	(	PUNCT
framr-1725	214	43	0.3323	0.3323	NUM
framr-1725	214	44	)	)	PUNCT
framr-1725	214	45	-0.00029	-0.00029	NOUN
framr-1725	214	46	(	(	PUNCT
framr-1725	214	47	0.2859	0.2859	NUM
framr-1725	214	48	)	)	PUNCT
framr-1725	214	49	-0.0025	-0.0025	NOUN
framr-1725	214	50	(	(	PUNCT
framr-1725	214	51	0.4237	0.4237	NUM
framr-1725	214	52	)	)	PUNCT
framr-1725	215	1	0.019919	0.019919	NUM
framr-1725	215	2	(	(	PUNCT
framr-1725	215	3	0.3179	0.3179	NUM
framr-1725	215	4	)	)	PUNCT
framr-1725	215	5	-0.082	-0.082	X
framr-1725	215	6	(	(	PUNCT
framr-1725	215	7	0.0000	0.0000	NUM
framr-1725	215	8	)	)	PUNCT
framr-1725	215	9	0.083857	0.083857	NUM
framr-1725	215	10	(	(	PUNCT
framr-1725	215	11	0.0000	0.0000	NUM
framr-1725	215	12	)	)	PUNCT
framr-1725	215	13	-0.0667	-0.0667	NOUN
framr-1725	215	14	(	(	PUNCT
framr-1725	215	15	0.0008	0.0008	NUM
framr-1725	215	16	)	)	PUNCT
framr-1725	215	17	-0.00886	-0.00886	PUNCT
framr-1725	215	18	(	(	PUNCT
framr-1725	215	19	0.6585	0.6585	NUM
framr-1725	215	20	)	)	PUNCT
framr-1725	215	21	-0.03137	-0.03137	NOUN
framr-1725	215	22	(	(	PUNCT
framr-1725	215	23	0.1198	0.1198	NUM
framr-1725	215	24	)	)	PUNCT
framr-1725	215	25	-0.07676	-0.07676	PUNCT
framr-1725	215	26	(	(	PUNCT
framr-1725	215	27	0.0001	0.0001	NUM
framr-1725	215	28	)	)	PUNCT
framr-1725	215	29	-0.0659	-0.0659	NOUN
framr-1725	215	30	(	(	PUNCT
framr-1725	215	31	0.0009	0.0009	NUM
framr-1725	215	32	)	)	PUNCT
framr-1725	215	33	-0.0905	-0.0905	VERB
framr-1725	215	34	(	(	PUNCT
framr-1725	215	35	0.000	0.000	NUM
framr-1725	215	36	)	)	PUNCT
framr-1725	215	37	-0.0993	-0.0993	NOUN
framr-1725	215	38	(	(	PUNCT
framr-1725	215	39	0.0000	0.0000	NUM
framr-1725	215	40	)	)	PUNCT
framr-1725	215	41	0.06595	0.06595	NUM
framr-1725	215	42	(	(	PUNCT
framr-1725	215	43	0.0001	0.0001	NUM
framr-1725	215	44	)	)	PUNCT
framr-1725	215	45	-0.06246	-0.06246	NOUN
framr-1725	215	46	(	(	PUNCT
framr-1725	215	47	0.0018	0.0018	NUM
framr-1725	215	48	)	)	PUNCT
framr-1725	215	49	-0.0647	-0.0647	NOUN
framr-1725	215	50	(	(	PUNCT
framr-1725	215	51	0.0012	0.0012	NUM
framr-1725	215	52	)	)	PUNCT
framr-1725	215	53	variance	variance	NOUN
framr-1725	215	54	equation	equation	NOUN
framr-1725	215	55	variance	variance	NOUN
framr-1725	215	56	equation	equation	NOUN
framr-1725	215	57	variance	variance	NOUN
framr-1725	215	58	equation	equation	NOUN
framr-1725	215	59	k	k	PROPN
framr-1725	216	1	0.0000563	0.0000563	NUM
framr-1725	217	1	(	(	PUNCT
framr-1725	217	2	0.0000	0.0000	NUM
framr-1725	217	3	)	)	PUNCT
framr-1725	217	4	0.000025	0.000025	NUM
framr-1725	217	5	(	(	PUNCT
framr-1725	217	6	0.0000	0.0000	NUM
framr-1725	217	7	)	)	PUNCT
framr-1725	218	1	k	k	PROPN
framr-1725	218	2	0.000046	0.000046	NUM
framr-1725	218	3	(	(	PUNCT
framr-1725	218	4	0.0000	0.0000	NUM
framr-1725	218	5	)	)	PUNCT
framr-1725	218	6	0.0000203	0.0000203	NUM
framr-1725	218	7	(	(	PUNCT
framr-1725	218	8	0.0000	0.0000	NUM
framr-1725	218	9	)	)	PUNCT
framr-1725	218	10	k	k	NOUN
framr-1725	218	11	0.0000562	0.0000562	NUM
framr-1725	218	12	(	(	PUNCT
framr-1725	218	13	0.0000	0.0000	NUM
framr-1725	218	14	)	)	PUNCT
framr-1725	218	15	0.0000826	0.0000826	NUM
framr-1725	218	16	(	(	PUNCT
framr-1725	218	17	0.0000	0.0000	NUM
framr-1725	218	18	)	)	PUNCT
framr-1725	218	19	dow	dow	PROPN
framr-1725	218	20	jones	jones	PROPN
framr-1725	218	21	indus	indus	PROPN
framr-1725	218	22	ftse	ftse	PROPN
framr-1725	218	23	100	100	NUM
framr-1725	218	24	nikkei	nikkei	NOUN
framr-1725	218	25	225	225	NUM
framr-1725	218	26	1989	1989	NUM
framr-1725	218	27	-	-	SYM
framr-1725	218	28	1999	1999	NUM
framr-1725	218	29	19992009	19992009	NUM
framr-1725	218	30	19891999	19891999	NUM
framr-1725	218	31	19992009	19992009	NUM
framr-1725	218	32	1989	1989	NUM
framr-1725	218	33	-	-	SYM
framr-1725	218	34	1999	1999	NUM
framr-1725	218	35	1999	1999	NUM
framr-1725	218	36	-	-	SYM
framr-1725	218	37	2009	2009	NUM
framr-1725	218	38	0.09212	0.09212	NUM
framr-1725	218	39	(	(	PUNCT
framr-1725	218	40	0.0014	0.0014	NUM
framr-1725	218	41	)	)	PUNCT
framr-1725	218	42	0.03579	0.03579	NUM
framr-1725	218	43	(	(	PUNCT
framr-1725	218	44	0.1664	0.1664	NUM
framr-1725	218	45	)	)	PUNCT
framr-1725	218	46	0.112736	0.112736	NUM
framr-1725	218	47	(	(	PUNCT
framr-1725	218	48	0.0089	0.0089	NUM
framr-1725	218	49	)	)	PUNCT
framr-1725	218	50	0.10295	0.10295	NUM
framr-1725	218	51	(	(	PUNCT
framr-1725	218	52	0.0035	0.0035	NUM
framr-1725	218	53	)	)	PUNCT
framr-1725	218	54	0.180006	0.180006	NUM
framr-1725	218	55	(	(	PUNCT
framr-1725	218	56	0.0000	0.0000	NUM
framr-1725	218	57	)	)	PUNCT
framr-1725	218	58	-0.000712	-0.000712	NOUN
framr-1725	218	59	(	(	PUNCT
framr-1725	218	60	0.9595	0.9595	NUM
framr-1725	218	61	)	)	PUNCT
framr-1725	218	62	0.150645	0.150645	NUM
framr-1725	218	63	(	(	PUNCT
framr-1725	218	64	0.0056	0.0056	NUM
framr-1725	218	65	)	)	PUNCT
framr-1725	218	66	0.12039	0.12039	NUM
framr-1725	218	67	(	(	PUNCT
framr-1725	218	68	0.0002	0.0002	NUM
framr-1725	218	69	)	)	PUNCT
framr-1725	218	70	0.147786	0.147786	NUM
framr-1725	218	71	(	(	PUNCT
framr-1725	218	72	0.0000	0.0000	NUM
framr-1725	218	73	)	)	PUNCT
framr-1725	218	74	0.130056	0.130056	NUM
framr-1725	218	75	(	(	PUNCT
framr-1725	218	76	0.0000	0.0000	NUM
framr-1725	218	77	)	)	PUNCT
framr-1725	218	78	0.131339	0.131339	NUM
framr-1725	218	79	(	(	PUNCT
framr-1725	218	80	0.0000	0.0000	NUM
framr-1725	218	81	)	)	PUNCT
framr-1725	219	1	0.19168	0.19168	NUM
framr-1725	219	2	(	(	PUNCT
framr-1725	219	3	0.0000	0.0000	NUM
framr-1725	219	4	)	)	PUNCT
framr-1725	219	5	0.042911	0.042911	NUM
framr-1725	219	6	(	(	PUNCT
framr-1725	219	7	0.0477	0.0477	NUM
framr-1725	219	8	)	)	PUNCT
framr-1725	219	9	0.127171	0.127171	NUM
framr-1725	219	10	(	(	PUNCT
framr-1725	219	11	0.0000	0.0000	NUM
framr-1725	219	12	)	)	PUNCT
framr-1725	220	1	0.15256	0.15256	NUM
framr-1725	220	2	(	(	PUNCT
framr-1725	220	3	0.0000	0.0000	NUM
framr-1725	220	4	)	)	PUNCT
framr-1725	220	5	0.15165	0.15165	NUM
framr-1725	220	6	(	(	PUNCT
framr-1725	220	7	0.0000	0.0000	NUM
framr-1725	220	8	)	)	PUNCT
framr-1725	220	9	0.11555	0.11555	NUM
framr-1725	220	10	(	(	PUNCT
framr-1725	220	11	0.0002	0.0002	NUM
framr-1725	220	12	)	)	PUNCT
framr-1725	220	13	0.159832	0.159832	NUM
framr-1725	220	14	(	(	PUNCT
framr-1725	220	15	0.0000	0.0000	NUM
framr-1725	220	16	)	)	PUNCT
framr-1725	220	17	0.133670	0.133670	NUM
framr-1725	220	18	(	(	PUNCT
framr-1725	220	19	0.0000	0.0000	NUM
framr-1725	220	20	)	)	PUNCT
framr-1725	220	21	0.14526	0.14526	NUM
framr-1725	220	22	(	(	PUNCT
framr-1725	220	23	0.0001	0.0001	NUM
framr-1725	220	24	)	)	PUNCT
framr-1725	220	25	0.14546	0.14546	NUM
framr-1725	220	26	(	(	PUNCT
framr-1725	220	27	0.0000	0.0000	NUM
framr-1725	220	28	)	)	PUNCT
framr-1725	220	29	0.13495	0.13495	NUM
framr-1725	220	30	(	(	PUNCT
framr-1725	220	31	0.0000	0.0000	NUM
framr-1725	220	32	)	)	PUNCT
framr-1725	220	33	0.091687	0.091687	NUM
framr-1725	220	34	(	(	PUNCT
framr-1725	220	35	0.0000	0.0000	NUM
framr-1725	220	36	)	)	PUNCT
framr-1725	220	37	0.14147	0.14147	NUM
framr-1725	220	38	(	(	PUNCT
framr-1725	220	39	0.0000	0.0000	NUM
framr-1725	220	40	)	)	PUNCT
framr-1725	220	41	0.10737	0.10737	NUM
framr-1725	220	42	(	(	PUNCT
framr-1725	220	43	0.0011	0.0011	NUM
framr-1725	220	44	)	)	PUNCT
framr-1725	220	45	0.19271	0.19271	NUM
framr-1725	220	46	(	(	PUNCT
framr-1725	220	47	0.0000	0.0000	NUM
framr-1725	220	48	)	)	PUNCT
framr-1725	220	49	0.04847	0.04847	NUM
framr-1725	220	50	(	(	PUNCT
framr-1725	220	51	0.0201	0.0201	NUM
framr-1725	220	52	)	)	PUNCT
framr-1725	220	53	0.12652	0.12652	NUM
framr-1725	220	54	(	(	PUNCT
framr-1725	220	55	0.0000	0.0000	NUM
framr-1725	220	56	)	)	PUNCT
framr-1725	220	57	0.14140	0.14140	NUM
framr-1725	220	58	(	(	PUNCT
framr-1725	220	59	0.0000	0.0000	NUM
framr-1725	220	60	)	)	PUNCT
framr-1725	220	61	0.177484	0.177484	NUM
framr-1725	220	62	(	(	PUNCT
framr-1725	220	63	0.0000	0.0000	NUM
framr-1725	220	64	)	)	PUNCT
framr-1725	220	65	0.053988	0.053988	NUM
framr-1725	220	66	(	(	PUNCT
framr-1725	220	67	0.0403	0.0403	NUM
framr-1725	220	68	)	)	PUNCT
framr-1725	220	69	0.128662	0.128662	NUM
framr-1725	220	70	(	(	PUNCT
framr-1725	220	71	0.0000	0.0000	NUM
framr-1725	220	72	)	)	PUNCT
framr-1725	220	73	0.08182	0.08182	NUM
framr-1725	220	74	(	(	PUNCT
framr-1725	220	75	0.0008	0.0008	NUM
framr-1725	220	76	)	)	PUNCT
framr-1725	220	77	arch	arch	NOUN
framr-1725	220	78	lm	lm	X
framr-1725	220	79	arch	arch	PROPN
framr-1725	220	80	lm	lm	PROPN
framr-1725	220	81	arch	arch	VERB
framr-1725	220	82	lm	lm	INTJ
framr-1725	221	1	f	f	X
framr-1725	221	2	-	-	PUNCT
framr-1725	221	3	test	test	NOUN
framr-1725	221	4	1.762934	1.762934	NUM
framr-1725	221	5	1.518740	1.518740	NUM
framr-1725	221	6	f	f	X
framr-1725	221	7	-	-	PUNCT
framr-1725	221	8	test	test	NOUN
framr-1725	221	9	0.995300	0.995300	NUM
framr-1725	221	10	1.125045	1.125045	NUM
framr-1725	221	11	f	f	NOUN
framr-1725	221	12	-	-	PUNCT
framr-1725	221	13	test	test	NOUN
framr-1725	221	14	0.038590	0.038590	NUM
framr-1725	221	15	1.538423	1.538423	NUM
framr-1725	221	16	p	p	ADJ
framr-1725	221	17	-	-	PUNCT
framr-1725	221	18	value	value	NOUN
framr-1725	221	19	0.117122	0.117122	NUM
framr-1725	221	20	0.180530	0.180530	NUM
framr-1725	221	21	p	p	NOUN
framr-1725	221	22	-	-	PUNCT
framr-1725	221	23	value	value	NOUN
framr-1725	221	24	0.418995	0.418995	NUM
framr-1725	221	25	0.344721	0.344721	NUM
framr-1725	221	26	p	p	NOUN
framr-1725	221	27	-	-	PUNCT
framr-1725	221	28	value	value	NOUN
framr-1725	221	29	0.999187	0.999187	NUM
framr-1725	221	30	0.174486	0.174486	NUM
framr-1725	221	31	r	r	NOUN
framr-1725	221	32	-	-	PUNCT
framr-1725	221	33	square	square	ADJ
framr-1725	221	34	-0.000576	-0.000576	NOUN
framr-1725	221	35	-0.00118	-0.00118	PUNCT
framr-1725	222	1	r	r	NOUN
framr-1725	222	2	-	-	PUNCT
framr-1725	222	3	square	square	ADJ
framr-1725	222	4	-0.000004	-0.000004	NOUN
framr-1725	222	5	-0.001327	-0.001327	PUNCT
framr-1725	223	1	r	r	NOUN
framr-1725	223	2	-	-	PUNCT
framr-1725	223	3	square	square	ADJ
framr-1725	223	4	-0.00188	-0.00188	NOUN
framr-1725	223	5	-0.000812	-0.000812	VERB
framr-1725	223	6	durbin	durbin	PROPN
framr-1725	223	7	watson	watson	PROPN
framr-1725	223	8	1.95889	1.95889	NUM
framr-1725	223	9	2.148	2.148	NUM
framr-1725	223	10	durbin	durbin	ADJ
framr-1725	223	11	watson	watson	NOUN
framr-1725	223	12	1.8321	1.8321	NUM
framr-1725	223	13	2.124	2.124	NUM
framr-1725	223	14	durbin	durbin	ADJ
framr-1725	223	15	watson	watson	NOUN
framr-1725	223	16	2.0123	2.0123	NUM
framr-1725	223	17	2.060	2.060	NUM
framr-1725	223	18	loglikhood	loglikhood	NOUN
framr-1725	223	19	8397.664	8397.664	NUM
framr-1725	223	20	7897.671	7897.671	PROPN
framr-1725	223	21	loglikhood	loglikhood	NOUN
framr-1725	223	22	8435.413	8435.413	NUM
framr-1725	223	23	7916.169	7916.169	NUM
framr-1725	223	24	loglikhood	loglikhood	NOUN
framr-1725	224	1	7138.604	7138.604	NUM
framr-1725	224	2	6984.194	6984.194	NUM
framr-1725	224	3	figures	figure	NOUN
framr-1725	224	4	in	in	ADP
framr-1725	224	5	parenthesis	parenthesis	NOUN
framr-1725	224	6	represent	represent	VERB
framr-1725	224	7	the	the	DET
framr-1725	224	8	p	p	NOUN
framr-1725	224	9	-	-	PUNCT
framr-1725	224	10	values	value	NOUN
framr-1725	224	11	.	.	PUNCT
framr-1725	225	1	the	the	DET
framr-1725	225	2	only	only	ADJ
framr-1725	225	3	exception	exception	NOUN
framr-1725	225	4	to	to	ADP
framr-1725	225	5	this	this	PRON
framr-1725	225	6	is	be	AUX
framr-1725	225	7	the	the	DET
framr-1725	225	8	second	second	ADJ
framr-1725	225	9	subsample	subsample	NOUN
framr-1725	225	10	of	of	ADP
framr-1725	225	11	nikkei	nikkei	PROPN
framr-1725	225	12	225	225	NUM
framr-1725	225	13	index	index	NOUN
framr-1725	225	14	which	which	PRON
framr-1725	225	15	shows	show	VERB
framr-1725	225	16	a	a	DET
framr-1725	225	17	durbin	durbin	ADJ
framr-1725	225	18	-	-	PUNCT
framr-1725	225	19	watson	watson	NOUN
framr-1725	225	20	statistic	statistic	NOUN
framr-1725	225	21	of	of	ADP
framr-1725	225	22	2	2	NUM
framr-1725	225	23	,	,	PUNCT
framr-1725	225	24	suggesting	suggest	VERB
framr-1725	225	25	no	no	DET
framr-1725	225	26	autocorrelation	autocorrelation	NOUN
framr-1725	225	27	of	of	ADP
framr-1725	225	28	residuals	residual	NOUN
framr-1725	225	29	in	in	ADP
framr-1725	225	30	the	the	DET
framr-1725	225	31	model	model	NOUN
framr-1725	225	32	.	.	PUNCT
framr-1725	226	1	but	but	CCONJ
framr-1725	226	2	one	one	PRON
framr-1725	226	3	should	should	AUX
framr-1725	226	4	take	take	VERB
framr-1725	226	5	this	this	PRON
framr-1725	226	6	with	with	ADP
framr-1725	226	7	a	a	DET
framr-1725	226	8	pinch	pinch	NOUN
framr-1725	226	9	of	of	ADP
framr-1725	226	10	salt	salt	NOUN
framr-1725	226	11	as	as	SCONJ
framr-1725	226	12	durbin	durbin	NOUN
framr-1725	226	13	-	-	PUNCT
framr-1725	226	14	watson	watson	PROPN
framr-1725	226	15	is	be	AUX
framr-1725	226	16	not	not	PART
framr-1725	226	17	a	a	DET
framr-1725	226	18	perfect	perfect	ADJ
framr-1725	226	19	measure	measure	NOUN
framr-1725	226	20	of	of	ADP
framr-1725	226	21	the	the	DET
framr-1725	226	22	presence	presence	NOUN
framr-1725	226	23	of	of	ADP
framr-1725	226	24	autocorrelation	autocorrelation	NOUN
framr-1725	226	25	in	in	ADP
framr-1725	226	26	the	the	DET
framr-1725	226	27	residuals	residual	NOUN
framr-1725	226	28	.	.	PUNCT
framr-1725	227	1	financial	financial	ADJ
framr-1725	227	2	risk	risk	NOUN
framr-1725	227	3	and	and	CCONJ
framr-1725	227	4	management	management	NOUN
framr-1725	227	5	reviews	review	NOUN
framr-1725	227	6	,	,	PUNCT
framr-1725	227	7	2018	2018	NUM
framr-1725	227	8	,	,	PUNCT
framr-1725	227	9	4(1	4(1	NOUN
framr-1725	227	10	):	):	PUNCT
framr-1725	227	11	1	1	NUM
framr-1725	227	12	-	-	SYM
framr-1725	227	13	23	23	NUM
framr-1725	227	14	10	10	NUM
framr-1725	227	15	©	©	PROPN
framr-1725	227	16	2018	2018	NUM
framr-1725	227	17	conscientia	conscientia	PROPN
framr-1725	227	18	beam	beam	PROPN
framr-1725	227	19	.	.	PUNCT
framr-1725	228	1	all	all	DET
framr-1725	228	2	rights	right	NOUN
framr-1725	228	3	reserved	reserve	VERB
framr-1725	228	4	.	.	PUNCT
framr-1725	229	1	4.3	4.3	NUM
framr-1725	229	2	.	.	PUNCT
framr-1725	229	3	arch	arch	ADJ
framr-1725	229	4	effect	effect	NOUN
framr-1725	229	5	the	the	DET
framr-1725	229	6	residuals	residual	NOUN
framr-1725	229	7	of	of	ADP
framr-1725	229	8	the	the	DET
framr-1725	229	9	ar	ar	PROPN
framr-1725	229	10	(	(	PUNCT
framr-1725	229	11	m	m	NOUN
framr-1725	229	12	)	)	PUNCT
framr-1725	229	13	models	model	NOUN
framr-1725	229	14	in	in	ADP
framr-1725	229	15	the	the	DET
framr-1725	229	16	above	above	ADJ
framr-1725	229	17	section	section	NOUN
framr-1725	229	18	were	be	AUX
framr-1725	229	19	tested	test	VERB
framr-1725	229	20	for	for	ADP
framr-1725	229	21	arch	arch	ADJ
framr-1725	229	22	effect	effect	NOUN
framr-1725	229	23	using	use	VERB
framr-1725	229	24	the	the	DET
framr-1725	229	25	arch	arch	NOUN
framr-1725	229	26	lm	lm	PROPN
framr-1725	229	27	test	test	NOUN
framr-1725	229	28	.	.	PUNCT
framr-1725	230	1	the	the	DET
framr-1725	230	2	residuals	residual	NOUN
framr-1725	230	3	of	of	ADP
framr-1725	230	4	all	all	DET
framr-1725	230	5	the	the	DET
framr-1725	230	6	return	return	NOUN
framr-1725	230	7	series	series	NOUN
framr-1725	230	8	were	be	AUX
framr-1725	230	9	all	all	ADV
framr-1725	230	10	significant	significant	ADJ
framr-1725	230	11	at	at	ADP
framr-1725	230	12	1	1	NUM
framr-1725	230	13	%	%	NOUN
framr-1725	230	14	level	level	NOUN
framr-1725	230	15	of	of	ADP
framr-1725	230	16	significance	significance	NOUN
framr-1725	230	17	,	,	PUNCT
framr-1725	230	18	indicating	indicate	VERB
framr-1725	230	19	that	that	SCONJ
framr-1725	230	20	there	there	PRON
framr-1725	230	21	is	be	VERB
framr-1725	230	22	presence	presence	NOUN
framr-1725	230	23	of	of	ADP
framr-1725	230	24	heteroskedasticity	heteroskedasticity	NOUN
framr-1725	230	25	in	in	ADP
framr-1725	230	26	the	the	DET
framr-1725	230	27	residuals	residual	NOUN
framr-1725	230	28	of	of	ADP
framr-1725	230	29	the	the	DET
framr-1725	230	30	return	return	NOUN
framr-1725	230	31	series	series	NOUN
framr-1725	230	32	.	.	PUNCT
framr-1725	231	1	this	this	PRON
framr-1725	231	2	means	mean	VERB
framr-1725	231	3	that	that	SCONJ
framr-1725	231	4	the	the	DET
framr-1725	231	5	autoregressive	autoregressive	ADJ
framr-1725	231	6	models	model	NOUN
framr-1725	231	7	can	can	AUX
framr-1725	231	8	not	not	PART
framr-1725	231	9	adequately	adequately	ADV
framr-1725	231	10	model	model	VERB
framr-1725	231	11	the	the	DET
framr-1725	231	12	return	return	NOUN
framr-1725	231	13	of	of	ADP
framr-1725	231	14	the	the	DET
framr-1725	231	15	series	series	NOUN
framr-1725	231	16	and	and	CCONJ
framr-1725	231	17	this	this	PRON
framr-1725	231	18	therefore	therefore	ADV
framr-1725	231	19	means	mean	VERB
framr-1725	231	20	that	that	SCONJ
framr-1725	231	21	any	any	DET
framr-1725	231	22	result	result	NOUN
framr-1725	231	23	will	will	AUX
framr-1725	231	24	be	be	AUX
framr-1725	231	25	biased	bias	VERB
framr-1725	231	26	and	and	CCONJ
framr-1725	231	27	the	the	PRON
framr-1725	231	28	will	will	AUX
framr-1725	231	29	produce	produce	VERB
framr-1725	231	30	false	false	ADJ
framr-1725	231	31	estimates	estimate	NOUN
framr-1725	231	32	and	and	CCONJ
framr-1725	231	33	results	result	NOUN
framr-1725	231	34	.	.	PUNCT
framr-1725	232	1	as	as	ADP
framr-1725	232	2	a	a	DET
framr-1725	232	3	result	result	NOUN
framr-1725	232	4	of	of	ADP
framr-1725	232	5	this	this	PRON
framr-1725	232	6	,	,	PUNCT
framr-1725	232	7	we	we	PRON
framr-1725	232	8	resort	resort	VERB
framr-1725	232	9	to	to	PART
framr-1725	232	10	model	model	VERB
framr-1725	232	11	the	the	DET
framr-1725	232	12	arch	arch	ADJ
framr-1725	232	13	type	type	NOUN
framr-1725	232	14	models	model	NOUN
framr-1725	232	15	in	in	ADP
framr-1725	232	16	order	order	NOUN
framr-1725	232	17	to	to	PART
framr-1725	232	18	take	take	VERB
framr-1725	232	19	care	care	NOUN
framr-1725	232	20	of	of	ADP
framr-1725	232	21	the	the	DET
framr-1725	232	22	issue	issue	NOUN
framr-1725	232	23	of	of	ADP
framr-1725	232	24	heteroskedasticity	heteroskedasticity	NOUN
framr-1725	232	25	,	,	PUNCT
framr-1725	232	26	but	but	CCONJ
framr-1725	232	27	this	this	PRON
framr-1725	232	28	will	will	AUX
framr-1725	232	29	depend	depend	VERB
framr-1725	232	30	upon	upon	SCONJ
framr-1725	232	31	the	the	DET
framr-1725	232	32	fact	fact	NOUN
framr-1725	232	33	that	that	SCONJ
framr-1725	232	34	there	there	PRON
framr-1725	232	35	are	be	VERB
framr-1725	232	36	no	no	DET
framr-1725	232	37	heteroskedasticity	heteroskedasticity	NOUN
framr-1725	232	38	in	in	ADP
framr-1725	232	39	the	the	DET
framr-1725	232	40	model	model	NOUN
framr-1725	232	41	.	.	PUNCT
framr-1725	233	1	from	from	ADP
framr-1725	233	2	table	table	NOUN
framr-1725	233	3	4.3.1	4.3.1	NUM
framr-1725	233	4	,	,	PUNCT
framr-1725	233	5	significant	significant	ADJ
framr-1725	233	6	coefficients	coefficient	NOUN
framr-1725	233	7	of	of	ADP
framr-1725	233	8	the	the	DET
framr-1725	233	9	variance	variance	NOUN
framr-1725	233	10	equation	equation	NOUN
framr-1725	233	11	can	can	AUX
framr-1725	233	12	be	be	AUX
framr-1725	233	13	seen	see	VERB
framr-1725	233	14	in	in	ADP
framr-1725	233	15	almost	almost	ADV
framr-1725	233	16	all	all	DET
framr-1725	233	17	the	the	DET
framr-1725	233	18	return	return	NOUN
framr-1725	233	19	series	series	NOUN
framr-1725	233	20	,	,	PUNCT
framr-1725	233	21	with	with	ADP
framr-1725	233	22	significance	significance	NOUN
framr-1725	233	23	at	at	ADP
framr-1725	233	24	both	both	PRON
framr-1725	233	25	1	1	NUM
framr-1725	233	26	%	%	NOUN
framr-1725	233	27	and	and	CCONJ
framr-1725	233	28	5	5	NUM
framr-1725	233	29	%	%	NOUN
framr-1725	233	30	level	level	NOUN
framr-1725	233	31	.	.	PUNCT
framr-1725	234	1	this	this	PRON
framr-1725	234	2	is	be	AUX
framr-1725	234	3	indicated	indicate	VERB
framr-1725	234	4	by	by	ADP
framr-1725	234	5	the	the	DET
framr-1725	234	6	small	small	ADJ
framr-1725	234	7	p	p	NOUN
framr-1725	234	8	-	-	PUNCT
framr-1725	234	9	values	value	NOUN
framr-1725	234	10	illustrated	illustrate	VERB
framr-1725	234	11	in	in	ADP
framr-1725	234	12	parenthesis	parenthesis	NOUN
framr-1725	234	13	.	.	PUNCT
framr-1725	235	1	the	the	DET
framr-1725	235	2	only	only	ADJ
framr-1725	235	3	exception	exception	NOUN
framr-1725	235	4	to	to	ADP
framr-1725	235	5	this	this	PRON
framr-1725	235	6	is	be	AUX
framr-1725	235	7	the	the	DET
framr-1725	235	8	large	large	ADJ
framr-1725	235	9	p	p	ADJ
framr-1725	235	10	-	-	PUNCT
framr-1725	235	11	value	value	NOUN
framr-1725	235	12	observed	observe	VERB
framr-1725	235	13	in	in	ADP
framr-1725	235	14	the	the	DET
framr-1725	235	15	first	first	ADJ
framr-1725	235	16	coefficient	coefficient	NOUN
framr-1725	235	17	of	of	ADP
framr-1725	235	18	the	the	DET
framr-1725	235	19	second	second	ADJ
framr-1725	235	20	subsample	subsample	NOUN
framr-1725	235	21	of	of	ADP
framr-1725	235	22	the	the	DET
framr-1725	235	23	nikkei	nikkei	PROPN
framr-1725	235	24	225	225	NUM
framr-1725	235	25	index	index	NOUN
framr-1725	235	26	.	.	PUNCT
framr-1725	236	1	the	the	DET
framr-1725	236	2	insignificance	insignificance	NOUN
framr-1725	236	3	does	do	AUX
framr-1725	236	4	not	not	PART
framr-1725	236	5	matter	matter	VERB
framr-1725	236	6	much	much	ADV
framr-1725	236	7	as	as	SCONJ
framr-1725	236	8	majority	majority	NOUN
framr-1725	236	9	of	of	ADP
framr-1725	236	10	the	the	DET
framr-1725	236	11	other	other	ADJ
framr-1725	236	12	coefficients	coefficient	NOUN
framr-1725	236	13	shows	show	VERB
framr-1725	236	14	significance	significance	NOUN
framr-1725	236	15	with	with	ADP
framr-1725	236	16	low	low	ADJ
framr-1725	236	17	pvalues	pvalue	NOUN
framr-1725	236	18	.	.	PUNCT
framr-1725	237	1	the	the	DET
framr-1725	237	2	negative	negative	ADJ
framr-1725	237	3	value	value	NOUN
framr-1725	237	4	of	of	ADP
framr-1725	237	5	the	the	DET
framr-1725	237	6	r	r	NOUN
framr-1725	237	7	-	-	PUNCT
framr-1725	237	8	square	square	NOUN
framr-1725	237	9	makes	make	VERB
framr-1725	237	10	it	it	PRON
framr-1725	237	11	impossible	impossible	ADJ
framr-1725	237	12	to	to	PART
framr-1725	237	13	estimate	estimate	VERB
framr-1725	237	14	the	the	DET
framr-1725	237	15	value	value	NOUN
framr-1725	237	16	of	of	ADP
framr-1725	237	17	the	the	DET
framr-1725	237	18	f	f	NOUN
framr-1725	237	19	-	-	PUNCT
framr-1725	237	20	statistic	statistic	NOUN
framr-1725	237	21	for	for	ADP
framr-1725	237	22	the	the	DET
framr-1725	237	23	entire	entire	ADJ
framr-1725	237	24	sample	sample	NOUN
framr-1725	237	25	.	.	PUNCT
framr-1725	238	1	r	r	X
framr-1725	238	2	-	-	PUNCT
framr-1725	238	3	square	square	NOUN
framr-1725	238	4	is	be	AUX
framr-1725	238	5	negative	negative	ADJ
framr-1725	238	6	for	for	ADP
framr-1725	238	7	the	the	DET
framr-1725	238	8	entire	entire	ADJ
framr-1725	238	9	sample	sample	NOUN
framr-1725	238	10	;	;	PUNCT
framr-1725	238	11	this	this	PRON
framr-1725	238	12	is	be	AUX
framr-1725	238	13	explained	explain	VERB
framr-1725	238	14	in	in	ADP
framr-1725	238	15	section	section	NOUN
framr-1725	238	16	3.6.3	3.6.3	PROPN
framr-1725	238	17	.	.	PUNCT
framr-1725	239	1	the	the	DET
framr-1725	239	2	log	log	NOUN
framr-1725	239	3	likelihood	likelihood	NOUN
framr-1725	239	4	is	be	AUX
framr-1725	239	5	relatively	relatively	ADV
framr-1725	239	6	large	large	ADJ
framr-1725	239	7	for	for	SCONJ
framr-1725	239	8	the	the	DET
framr-1725	239	9	entire	entire	ADJ
framr-1725	239	10	sample	sample	NOUN
framr-1725	239	11	suggesting	suggest	VERB
framr-1725	239	12	the	the	DET
framr-1725	239	13	models	model	NOUN
framr-1725	239	14	employed	employ	VERB
framr-1725	239	15	fits	fit	VERB
framr-1725	239	16	the	the	DET
framr-1725	239	17	data	datum	NOUN
framr-1725	239	18	well	well	ADV
framr-1725	239	19	.	.	PUNCT
framr-1725	240	1	according	accord	VERB
framr-1725	240	2	to	to	ADP
framr-1725	240	3	brooks	brooks	PROPN
framr-1725	240	4	et	et	PROPN
framr-1725	240	5	al	al	PROPN
framr-1725	240	6	.	.	PROPN
framr-1725	241	1	(	(	PUNCT
framr-1725	241	2	2005	2005	NUM
framr-1725	241	3	)	)	PUNCT
framr-1725	241	4	the	the	DET
framr-1725	241	5	more	more	ADJ
framr-1725	241	6	parameters	parameter	NOUN
framr-1725	241	7	there	there	PRON
framr-1725	241	8	are	be	VERB
framr-1725	241	9	in	in	ADP
framr-1725	241	10	the	the	DET
framr-1725	241	11	conditional	conditional	ADJ
framr-1725	241	12	variance	variance	NOUN
framr-1725	241	13	equation	equation	NOUN
framr-1725	241	14	,	,	PUNCT
framr-1725	241	15	the	the	PRON
framr-1725	241	16	more	more	ADV
framr-1725	241	17	likely	likely	ADJ
framr-1725	241	18	it	it	PRON
framr-1725	241	19	is	be	AUX
framr-1725	241	20	that	that	SCONJ
framr-1725	241	21	one	one	NUM
framr-1725	241	22	or	or	CCONJ
framr-1725	241	23	more	more	ADJ
framr-1725	241	24	of	of	ADP
framr-1725	241	25	them	they	PRON
framr-1725	241	26	will	will	AUX
framr-1725	241	27	have	have	VERB
framr-1725	241	28	negative	negative	ADJ
framr-1725	241	29	estimated	estimate	VERB
framr-1725	241	30	values	value	NOUN
framr-1725	241	31	.	.	PUNCT
framr-1725	242	1	this	this	DET
framr-1725	242	2	same	same	ADJ
framr-1725	242	3	result	result	NOUN
framr-1725	242	4	is	be	AUX
framr-1725	242	5	observed	observe	VERB
framr-1725	242	6	in	in	ADP
framr-1725	242	7	the	the	DET
framr-1725	242	8	second	second	ADJ
framr-1725	242	9	subsample	subsample	NOUN
framr-1725	242	10	of	of	ADP
framr-1725	242	11	the	the	DET
framr-1725	242	12	nikkei	nikkei	PROPN
framr-1725	242	13	225	225	NUM
framr-1725	242	14	index	index	NOUN
framr-1725	242	15	where	where	SCONJ
framr-1725	242	16	the	the	DET
framr-1725	242	17	first	first	ADJ
framr-1725	242	18	coefficient	coefficient	NOUN
framr-1725	242	19	of	of	ADP
framr-1725	242	20	the	the	DET
framr-1725	242	21	model	model	NOUN
framr-1725	242	22	is	be	AUX
framr-1725	242	23	negative	negative	ADJ
framr-1725	242	24	as	as	ADP
framr-1725	242	25	a	a	DET
framr-1725	242	26	result	result	NOUN
framr-1725	242	27	of	of	ADP
framr-1725	242	28	arch	arch	ADJ
framr-1725	242	29	(	(	PUNCT
framr-1725	242	30	5	5	X
framr-1725	242	31	)	)	PUNCT
framr-1725	242	32	being	be	AUX
framr-1725	242	33	estimated	estimate	VERB
framr-1725	242	34	.	.	PUNCT
framr-1725	243	1	btu	btu	NOUN
framr-1725	243	2	this	this	PRON
framr-1725	243	3	is	be	AUX
framr-1725	243	4	not	not	PART
framr-1725	243	5	the	the	DET
framr-1725	243	6	case	case	NOUN
framr-1725	243	7	in	in	ADP
framr-1725	243	8	all	all	DET
framr-1725	243	9	circumstances	circumstance	NOUN
framr-1725	243	10	even	even	ADV
framr-1725	243	11	when	when	SCONJ
framr-1725	243	12	we	we	PRON
framr-1725	243	13	estimated	estimate	VERB
framr-1725	243	14	arch	arch	NOUN
framr-1725	243	15	(	(	PUNCT
framr-1725	243	16	8)	8)	NUM
framr-1725	243	17	of	of	ADP
framr-1725	243	18	second	second	ADJ
framr-1725	243	19	subsample	subsample	NOUN
framr-1725	243	20	of	of	ADP
framr-1725	243	21	dow	dow	PROPN
framr-1725	243	22	jones	jones	PROPN
framr-1725	243	23	industrial	industrial	PROPN
framr-1725	243	24	index	index	NOUN
framr-1725	243	25	and	and	CCONJ
framr-1725	243	26	that	that	PRON
framr-1725	243	27	of	of	ADP
framr-1725	243	28	ftse	ftse	PROPN
framr-1725	243	29	100	100	NUM
framr-1725	243	30	index	index	NOUN
framr-1725	243	31	.	.	PUNCT
framr-1725	244	1	table-4.3.2	table-4.3.2	X
framr-1725	244	2	.	.	PUNCT
framr-1725	245	1	garch	garch	NOUN
framr-1725	245	2	(	(	PUNCT
framr-1725	245	3	1	1	NUM
framr-1725	245	4	1	1	NUM
framr-1725	245	5	)	)	PUNCT
framr-1725	245	6	model	model	NOUN
framr-1725	245	7	estimation	estimation	NOUN
framr-1725	245	8	.	.	PUNCT
framr-1725	246	1	dow	dow	PROPN
framr-1725	246	2	jones	jones	PROPN
framr-1725	246	3	indus	indus	PROPN
framr-1725	246	4	ftse	ftse	PROPN
framr-1725	246	5	100	100	NUM
framr-1725	246	6	nikkei	nikkei	PROPN
framr-1725	246	7	225	225	NUM
framr-1725	246	8	stat	stat	PROPN
framr-1725	246	9	/	/	SYM
framr-1725	246	10	coeff	coeff	PROPN
framr-1725	246	11	1989	1989	NUM
framr-1725	246	12	-	-	SYM
framr-1725	246	13	1999	1999	NUM
framr-1725	246	14	1999	1999	NUM
framr-1725	246	15	-	-	SYM
framr-1725	246	16	2009	2009	NUM
framr-1725	246	17	stat	stat	NOUN
framr-1725	246	18	/	/	SYM
framr-1725	246	19	coeff	coeff	PROPN
framr-1725	246	20	1989	1989	NUM
framr-1725	246	21	-	-	SYM
framr-1725	246	22	1999	1999	NUM
framr-1725	246	23	1999	1999	NUM
framr-1725	246	24	-	-	SYM
framr-1725	246	25	2009	2009	NUM
framr-1725	246	26	stat	stat	NOUN
framr-1725	246	27	/	/	SYM
framr-1725	246	28	coeff	coeff	PROPN
framr-1725	246	29	1989	1989	NUM
framr-1725	246	30	-	-	SYM
framr-1725	246	31	1999	1999	NUM
framr-1725	246	32	1999	1999	NUM
framr-1725	246	33	-	-	SYM
framr-1725	246	34	2009	2009	NUM
framr-1725	246	35	0.00062	0.00062	NUM
framr-1725	246	36	(	(	PUNCT
framr-1725	246	37	0.0001	0.0001	NUM
framr-1725	246	38	)	)	PUNCT
framr-1725	246	39	0.000342	0.000342	NUM
framr-1725	246	40	(	(	PUNCT
framr-1725	246	41	0.0425	0.0425	NUM
framr-1725	246	42	)	)	PUNCT
framr-1725	246	43	0.000497	0.000497	NUM
framr-1725	246	44	(	(	PUNCT
framr-1725	246	45	0.0012	0.0012	NUM
framr-1725	246	46	)	)	PUNCT
framr-1725	246	47	0.000275	0.000275	NUM
framr-1725	246	48	(	(	PUNCT
framr-1725	246	49	0.1186	0.1186	NUM
framr-1725	246	50	)	)	PUNCT
framr-1725	246	51	0.000304	0.000304	NUM
framr-1725	246	52	(	(	PUNCT
framr-1725	246	53	0.1978	0.1978	NUM
framr-1725	246	54	)	)	PUNCT
framr-1725	246	55	0.000337	0.000337	NUM
framr-1725	246	56	(	(	PUNCT
framr-1725	246	57	0.1813	0.1813	NUM
framr-1725	246	58	)	)	PUNCT
framr-1725	246	59	variance	variance	NOUN
framr-1725	246	60	equation	equation	NOUN
framr-1725	246	61	variance	variance	NOUN
framr-1725	246	62	equation	equation	NOUN
framr-1725	246	63	variance	variance	NOUN
framr-1725	246	64	equation	equation	NOUN
framr-1725	246	65	k	k	PROPN
framr-1725	246	66	0.00000798	0.00000798	NUM
framr-1725	246	67	(	(	PUNCT
framr-1725	246	68	0.0005	0.0005	NUM
framr-1725	246	69	)	)	PUNCT
framr-1725	246	70	0.00000104	0.00000104	NUM
framr-1725	246	71	(	(	PUNCT
framr-1725	246	72	0.0130	0.0130	NUM
framr-1725	246	73	)	)	PUNCT
framr-1725	246	74	k	k	NOUN
framr-1725	246	75	0.00000117	0.00000117	NUM
framr-1725	246	76	(	(	PUNCT
framr-1725	246	77	0.0008	0.0008	NUM
framr-1725	246	78	)	)	PUNCT
framr-1725	246	79	0.00000116	0.00000116	NUM
framr-1725	246	80	(	(	PUNCT
framr-1725	246	81	0.0017	0.0017	NUM
framr-1725	246	82	)	)	PUNCT
framr-1725	246	83	k	k	NOUN
framr-1725	246	84	0.0000028	0.0000028	NUM
framr-1725	246	85	(	(	PUNCT
framr-1725	246	86	0.0068	0.0068	NUM
framr-1725	246	87	)	)	PUNCT
framr-1725	246	88	0.0000301	0.0000301	NUM
framr-1725	246	89	(	(	PUNCT
framr-1725	246	90	0.0001	0.0001	NUM
framr-1725	246	91	)	)	PUNCT
framr-1725	246	92	0.038544	0.038544	NUM
framr-1725	246	93	(	(	PUNCT
framr-1725	246	94	0.0010	0.0010	NUM
framr-1725	246	95	)	)	PUNCT
framr-1725	246	96	0.078135	0.078135	NUM
framr-1725	246	97	(	(	PUNCT
framr-1725	246	98	0.0000	0.0000	NUM
framr-1725	246	99	)	)	PUNCT
framr-1725	246	100	0.05663	0.05663	NUM
framr-1725	246	101	(	(	PUNCT
framr-1725	246	102	0.0000	0.0000	NUM
framr-1725	246	103	)	)	PUNCT
framr-1725	246	104	0.109349	0.109349	NUM
framr-1725	246	105	(	(	PUNCT
framr-1725	246	106	0.0000	0.0000	NUM
framr-1725	246	107	)	)	PUNCT
framr-1725	246	108	0.109291	0.109291	PROPN
framr-1725	246	109	(	(	PUNCT
framr-1725	246	110	0.0000	0.0000	NUM
framr-1725	246	111	)	)	PUNCT
framr-1725	246	112	0.094202	0.094202	NUM
framr-1725	246	113	(	(	PUNCT
framr-1725	246	114	0.0000	0.0000	NUM
framr-1725	246	115	)	)	PUNCT
framr-1725	246	116	0.952471	0.952471	NUM
framr-1725	246	117	(	(	PUNCT
framr-1725	246	118	0.0000	0.0000	NUM
framr-1725	246	119	)	)	PUNCT
framr-1725	246	120	0.91678	0.91678	NUM
framr-1725	246	121	(	(	PUNCT
framr-1725	246	122	0.0000	0.0000	NUM
framr-1725	246	123	)	)	PUNCT
framr-1725	246	124	0.92875	0.92875	NUM
framr-1725	246	125	(	(	PUNCT
framr-1725	246	126	0.0000	0.0000	NUM
framr-1725	246	127	)	)	PUNCT
framr-1725	246	128	0.888057	0.888057	NUM
framr-1725	246	129	(	(	PUNCT
framr-1725	246	130	0.0000	0.0000	NUM
framr-1725	246	131	)	)	PUNCT
framr-1725	246	132	0.88482	0.88482	NUM
framr-1725	246	133	(	(	PUNCT
framr-1725	246	134	0.0000	0.0000	NUM
framr-1725	246	135	)	)	PUNCT
framr-1725	247	1	0.89690	0.89690	NUM
framr-1725	247	2	(	(	PUNCT
framr-1725	247	3	0.0000	0.0000	NUM
framr-1725	247	4	)	)	PUNCT
framr-1725	247	5	arch	arch	ADJ
framr-1725	247	6	arch	arch	NOUN
framr-1725	247	7	arch	arch	NOUN
framr-1725	247	8	lm	lm	INTJ
framr-1725	247	9	f	f	X
framr-1725	247	10	-	-	PUNCT
framr-1725	247	11	test	test	NOUN
framr-1725	247	12	0.307995	0.307995	NUM
framr-1725	247	13	0.954119	0.954119	NUM
framr-1725	247	14	f	f	X
framr-1725	247	15	-	-	PUNCT
framr-1725	247	16	test	test	NOUN
framr-1725	247	17	0.950460	0.950460	NUM
framr-1725	247	18	0.564544	0.564544	NUM
framr-1725	247	19	f	f	X
framr-1725	247	20	-	-	PUNCT
framr-1725	247	21	test	test	NOUN
framr-1725	247	22	0.038408	0.038408	NUM
framr-1725	247	23	1.657808	1.657808	NUM
framr-1725	247	24	p	p	NOUN
framr-1725	247	25	-	-	PUNCT
framr-1725	247	26	value	value	NOUN
framr-1725	247	27	0.908359	0.908359	NUM
framr-1725	247	28	0.444729	0.444729	NUM
framr-1725	247	29	p	p	ADJ
framr-1725	247	30	-	-	PUNCT
framr-1725	247	31	value	value	NOUN
framr-1725	247	32	0.447063	0.447063	NUM
framr-1725	247	33	0.727279	0.727279	NUM
framr-1725	247	34	p	p	X
framr-1725	247	35	-	-	PUNCT
framr-1725	247	36	value	value	NOUN
framr-1725	247	37	0.999196	0.999196	ADJ
framr-1725	247	38	0.103763	0.103763	ADJ
framr-1725	247	39	r	r	X
framr-1725	247	40	-	-	PUNCT
framr-1725	247	41	square	square	ADJ
framr-1725	247	42	-0.00024	-0.00024	NOUN
framr-1725	247	43	-0.001142	-0.001142	VERB
framr-1725	248	1	r	r	NOUN
framr-1725	248	2	-	-	PUNCT
framr-1725	248	3	square	square	ADJ
framr-1725	248	4	-0.000039	-0.000039	NOUN
framr-1725	248	5	-0.001198	-0.001198	VERB
framr-1725	248	6	r	r	NOUN
framr-1725	248	7	-	-	PUNCT
framr-1725	248	8	square	square	ADJ
framr-1725	248	9	-0.00156	-0.00156	NOUN
framr-1725	248	10	-0.001313	-0.001313	PROPN
framr-1725	249	1	dw	dw	PROPN
framr-1725	249	2	1.959	1.959	NUM
framr-1725	249	3	2.1482	2.1482	NUM
framr-1725	249	4	dw	dw	PROPN
framr-1725	249	5	1.8321	1.8321	NUM
framr-1725	249	6	2.1252	2.1252	NUM
framr-1725	249	7	dw	dw	NOUN
framr-1725	249	8	2.012	2.012	NUM
framr-1725	249	9	2.0598	2.0598	NUM
framr-1725	249	10	log	log	NOUN
framr-1725	249	11	likhood	likhood	NOUN
framr-1725	249	12	8479.762	8479.762	PROPN
framr-1725	249	13	7927.203	7927.203	NUM
framr-1725	249	14	log	log	NOUN
framr-1725	249	15	likhood	likhood	NOUN
framr-1725	250	1	8505.963	8505.963	PROPN
framr-1725	250	2	7939.081	7939.081	PROPN
framr-1725	250	3	log	log	NOUN
framr-1725	250	4	likhood	likhood	NOUN
framr-1725	250	5	7183.273	7183.273	PROPN
framr-1725	250	6	7021.074	7021.074	PROPN
framr-1725	250	7	notes	note	VERB
framr-1725	250	8	:	:	PUNCT
framr-1725	250	9	figures	figure	NOUN
framr-1725	250	10	in	in	ADP
framr-1725	250	11	parenthesis	parenthesis	NOUN
framr-1725	250	12	represent	represent	VERB
framr-1725	250	13	the	the	DET
framr-1725	250	14	p	p	NOUN
framr-1725	250	15	-	-	PUNCT
framr-1725	250	16	values	value	NOUN
framr-1725	250	17	.	.	PUNCT
framr-1725	251	1	from	from	ADP
framr-1725	251	2	table	table	NOUN
framr-1725	251	3	4.3.2	4.3.2	NOUN
framr-1725	251	4	,	,	PUNCT
framr-1725	251	5	we	we	PRON
framr-1725	251	6	estimated	estimate	VERB
framr-1725	251	7	the	the	DET
framr-1725	251	8	garch	garch	NOUN
framr-1725	251	9	(	(	PUNCT
framr-1725	251	10	1	1	NUM
framr-1725	251	11	1	1	NUM
framr-1725	251	12	)	)	PUNCT
framr-1725	251	13	model	model	NOUN
framr-1725	251	14	and	and	CCONJ
framr-1725	251	15	the	the	DET
framr-1725	251	16	parameter	parameter	NOUN
framr-1725	251	17	represents	represent	VERB
framr-1725	251	18	the	the	DET
framr-1725	251	19	lagged	lag	VERB
framr-1725	251	20	squared	square	VERB
framr-1725	251	21	residual	residual	ADJ
framr-1725	251	22	and	and	CCONJ
framr-1725	251	23	the	the	DET
framr-1725	251	24	lagged	lag	VERB
framr-1725	251	25	conditional	conditional	ADJ
framr-1725	251	26	variance	variance	NOUN
framr-1725	251	27	equation	equation	NOUN
framr-1725	251	28	.	.	PUNCT
framr-1725	252	1	both	both	DET
framr-1725	252	2	parameters	parameter	NOUN
framr-1725	252	3	are	be	AUX
framr-1725	252	4	highly	highly	ADV
framr-1725	252	5	statistically	statistically	ADV
framr-1725	252	6	significant	significant	ADJ
framr-1725	252	7	,	,	PUNCT
framr-1725	252	8	with	with	ADP
framr-1725	252	9	low	low	ADJ
framr-1725	252	10	p	p	NOUN
framr-1725	252	11	-	-	PUNCT
framr-1725	252	12	values	value	NOUN
framr-1725	252	13	significant	significant	ADJ
framr-1725	252	14	at	at	ADP
framr-1725	252	15	all	all	DET
framr-1725	252	16	levels	level	NOUN
framr-1725	252	17	of	of	ADP
framr-1725	252	18	significance	significance	NOUN
framr-1725	252	19	.	.	PUNCT
framr-1725	253	1	the	the	DET
framr-1725	253	2	sum	sum	NOUN
framr-1725	253	3	of	of	ADP
framr-1725	253	4	the	the	DET
framr-1725	253	5	coefficients	coefficient	NOUN
framr-1725	253	6	on	on	ADP
framr-1725	253	7	the	the	DET
framr-1725	253	8	lagged	lag	VERB
framr-1725	253	9	squared	square	VERB
framr-1725	253	10	error	error	NOUN
framr-1725	253	11	and	and	CCONJ
framr-1725	253	12	lagged	lag	VERB
framr-1725	253	13	conditional	conditional	ADJ
framr-1725	253	14	variance	variance	NOUN
framr-1725	253	15	is	be	AUX
framr-1725	253	16	very	very	ADV
framr-1725	253	17	close	close	ADJ
framr-1725	253	18	to	to	ADP
framr-1725	253	19	one	one	NUM
framr-1725	253	20	for	for	ADP
framr-1725	253	21	all	all	DET
framr-1725	253	22	samples	sample	NOUN
framr-1725	253	23	of	of	ADP
framr-1725	253	24	the	the	DET
framr-1725	253	25	return	return	NOUN
framr-1725	253	26	series	series	NOUN
framr-1725	253	27	.	.	PUNCT
framr-1725	254	1	that	that	PRON
framr-1725	254	2	for	for	ADP
framr-1725	254	3	the	the	DET
framr-1725	254	4	dow	dow	PROPN
framr-1725	254	5	jones	jones	PROPN
framr-1725	254	6	industrial	industrial	PROPN
framr-1725	254	7	index	index	NOUN
framr-1725	254	8	is	be	AUX
framr-1725	254	9	approximately	approximately	ADV
framr-1725	254	10	0.99101	0.99101	NUM
framr-1725	254	11	and	and	CCONJ
framr-1725	254	12	0.99491	0.99491	NUM
framr-1725	254	13	for	for	ADP
framr-1725	254	14	both	both	PRON
framr-1725	254	15	first	first	ADJ
framr-1725	254	16	and	and	CCONJ
framr-1725	254	17	second	second	ADJ
framr-1725	254	18	subsamples	subsample	NOUN
framr-1725	254	19	respectively	respectively	ADV
framr-1725	254	20	.	.	PUNCT
framr-1725	255	1	the	the	DET
framr-1725	255	2	same	same	ADJ
framr-1725	255	3	issue	issue	NOUN
framr-1725	255	4	applies	apply	VERB
framr-1725	255	5	to	to	ADP
framr-1725	255	6	the	the	DET
framr-1725	255	7	rest	rest	NOUN
framr-1725	255	8	of	of	ADP
framr-1725	255	9	the	the	DET
framr-1725	255	10	return	return	NOUN
framr-1725	255	11	series	series	NOUN
framr-1725	255	12	,	,	PUNCT
framr-1725	255	13	where	where	SCONJ
framr-1725	255	14	all	all	DET
framr-1725	255	15	the	the	DET
framr-1725	255	16	coefficients	coefficient	NOUN
framr-1725	255	17	seem	seem	VERB
framr-1725	255	18	to	to	PART
framr-1725	255	19	be	be	AUX
framr-1725	255	20	very	very	ADV
framr-1725	255	21	close	close	ADJ
framr-1725	255	22	to	to	ADP
framr-1725	255	23	unity	unity	NOUN
framr-1725	255	24	.	.	PUNCT
framr-1725	256	1	this	this	PRON
framr-1725	256	2	also	also	ADV
framr-1725	256	3	implies	imply	VERB
framr-1725	256	4	that	that	SCONJ
framr-1725	256	5	the	the	DET
framr-1725	256	6	shocks	shock	NOUN
framr-1725	256	7	to	to	ADP
framr-1725	256	8	the	the	DET
framr-1725	256	9	conditional	conditional	ADJ
framr-1725	256	10	variance	variance	NOUN
framr-1725	256	11	will	will	AUX
framr-1725	256	12	be	be	AUX
framr-1725	256	13	highly	highly	ADV
framr-1725	256	14	persistent	persistent	ADJ
framr-1725	256	15	.	.	PUNCT
framr-1725	257	1	see	see	VERB
framr-1725	257	2	(	(	PUNCT
framr-1725	257	3	brooks	brooks	PROPN
framr-1725	257	4	et	et	PROPN
framr-1725	257	5	al	al	PROPN
framr-1725	257	6	.	.	PROPN
framr-1725	257	7	,	,	PUNCT
framr-1725	257	8	2005	2005	NUM
framr-1725	257	9	)	)	PUNCT
framr-1725	257	10	.	.	PUNCT
framr-1725	258	1	financial	financial	ADJ
framr-1725	258	2	risk	risk	NOUN
framr-1725	258	3	and	and	CCONJ
framr-1725	258	4	management	management	NOUN
framr-1725	258	5	reviews	review	NOUN
framr-1725	258	6	,	,	PUNCT
framr-1725	258	7	2018	2018	NUM
framr-1725	258	8	,	,	PUNCT
framr-1725	258	9	4(1	4(1	NOUN
framr-1725	258	10	):	):	PUNCT
framr-1725	258	11	1	1	NUM
framr-1725	258	12	-	-	SYM
framr-1725	258	13	23	23	NUM
framr-1725	258	14	11	11	NUM
framr-1725	258	15	©	©	PROPN
framr-1725	258	16	2018	2018	NUM
framr-1725	258	17	conscientia	conscientia	PROPN
framr-1725	258	18	beam	beam	PROPN
framr-1725	258	19	.	.	PUNCT
framr-1725	259	1	all	all	DET
framr-1725	259	2	rights	right	NOUN
framr-1725	259	3	reserved	reserve	VERB
framr-1725	259	4	.	.	PUNCT
framr-1725	260	1	table-4.3.3	table-4.3.3	X
framr-1725	260	2	.	.	PUNCT
framr-1725	261	1	egarch	egarch	NOUN
framr-1725	261	2	(	(	PUNCT
framr-1725	261	3	1	1	NUM
framr-1725	261	4	1	1	NUM
framr-1725	261	5	)	)	PUNCT
framr-1725	261	6	model	model	NOUN
framr-1725	261	7	estimation	estimation	NOUN
framr-1725	261	8	dow	dow	PROPN
framr-1725	261	9	jones	jones	PROPN
framr-1725	261	10	indus	indus	PROPN
framr-1725	261	11	ftse	ftse	PROPN
framr-1725	261	12	100	100	NUM
framr-1725	261	13	nikkei	nikkei	PROPN
framr-1725	261	14	225	225	NUM
framr-1725	261	15	stat	stat	PROPN
framr-1725	261	16	/	/	SYM
framr-1725	261	17	coef	coef	PROPN
framr-1725	261	18	1989	1989	NUM
framr-1725	261	19	-	-	SYM
framr-1725	261	20	1999	1999	NUM
framr-1725	261	21	1999	1999	NUM
framr-1725	261	22	-	-	SYM
framr-1725	261	23	2009	2009	NUM
framr-1725	261	24	stat	stat	NOUN
framr-1725	261	25	/	/	SYM
framr-1725	261	26	coef	coef	PROPN
framr-1725	261	27	1989	1989	NUM
framr-1725	261	28	-	-	SYM
framr-1725	261	29	1999	1999	NUM
framr-1725	261	30	1999	1999	NUM
framr-1725	261	31	-	-	SYM
framr-1725	261	32	2009	2009	NUM
framr-1725	261	33	stat	stat	NOUN
framr-1725	261	34	/	/	SYM
framr-1725	261	35	coef	coef	PROPN
framr-1725	261	36	1989	1989	NUM
framr-1725	261	37	-	-	SYM
framr-1725	261	38	1999	1999	NUM
framr-1725	261	39	1999	1999	NUM
framr-1725	261	40	-	-	SYM
framr-1725	261	41	2009	2009	NUM
framr-1725	261	42	c	c	NOUN
framr-1725	261	43	0.000468	0.000468	NUM
framr-1725	261	44	(	(	PUNCT
framr-1725	261	45	0.0032	0.0032	NUM
framr-1725	261	46	)	)	PUNCT
framr-1725	261	47	-0.000015	-0.000015	NOUN
framr-1725	261	48	(	(	PUNCT
framr-1725	261	49	0.9281	0.9281	NUM
framr-1725	261	50	)	)	PUNCT
framr-1725	261	51	c	c	NOUN
framr-1725	261	52	0.000399	0.000399	NUM
framr-1725	261	53	(	(	PUNCT
framr-1725	261	54	0.0099	0.0099	NUM
framr-1725	261	55	)	)	PUNCT
framr-1725	261	56	-0.000154	-0.000154	NOUN
framr-1725	261	57	(	(	PUNCT
framr-1725	261	58	0.3761	0.3761	NUM
framr-1725	261	59	)	)	PUNCT
framr-1725	261	60	c	c	NOUN
framr-1725	261	61	-0.000167	-0.000167	NOUN
framr-1725	261	62	(	(	PUNCT
framr-1725	261	63	0.4367	0.4367	NUM
framr-1725	261	64	)	)	PUNCT
framr-1725	261	65	-0.000106	-0.000106	NOUN
framr-1725	261	66	(	(	PUNCT
framr-1725	261	67	0.6637	0.6637	NUM
framr-1725	261	68	)	)	PUNCT
framr-1725	261	69	varince	varince	NOUN
framr-1725	261	70	eqution	eqution	NOUN
framr-1725	261	71	variance	variance	NOUN
framr-1725	261	72	eqution	eqution	NOUN
framr-1725	261	73	variance	variance	NOUN
framr-1725	261	74	equation	equation	NOUN
framr-1725	261	75	c	c	PROPN
framr-1725	261	76	(	(	PUNCT
framr-1725	261	77	2	2	NUM
framr-1725	261	78	)	)	PUNCT
framr-1725	261	79	-0.33473	-0.33473	NOUN
framr-1725	261	80	(	(	PUNCT
framr-1725	261	81	0.0000	0.0000	NUM
framr-1725	261	82	)	)	PUNCT
framr-1725	261	83	-0.21708	-0.21708	NOUN
framr-1725	261	84	(	(	PUNCT
framr-1725	261	85	0.0000	0.0000	NUM
framr-1725	261	86	)	)	PUNCT
framr-1725	261	87	c	c	NOUN
framr-1725	261	88	(	(	PUNCT
framr-1725	261	89	2	2	NUM
framr-1725	261	90	)	)	PUNCT
framr-1725	261	91	-0.16749	-0.16749	NOUN
framr-1725	261	92	(	(	PUNCT
framr-1725	261	93	0.0000	0.0000	NUM
framr-1725	261	94	)	)	PUNCT
framr-1725	261	95	-0.220353	-0.220353	NOUN
framr-1725	262	1	(	(	PUNCT
framr-1725	262	2	0.0000	0.0000	NUM
framr-1725	262	3	)	)	PUNCT
framr-1725	262	4	c	c	NOUN
framr-1725	262	5	(	(	PUNCT
framr-1725	262	6	2	2	NUM
framr-1725	262	7	)	)	PUNCT
framr-1725	262	8	-0.29774	-0.29774	NOUN
framr-1725	262	9	(	(	PUNCT
framr-1725	262	10	0.000	0.000	NUM
framr-1725	262	11	)	)	PUNCT
framr-1725	262	12	-0.361448	-0.361448	NOUN
framr-1725	262	13	(	(	PUNCT
framr-1725	262	14	0.0000	0.0000	NUM
framr-1725	262	15	)	)	PUNCT
framr-1725	262	16	c	c	NOUN
framr-1725	262	17	(	(	PUNCT
framr-1725	262	18	3	3	NUM
framr-1725	262	19	)	)	PUNCT
framr-1725	262	20	0.112528	0.112528	NUM
framr-1725	262	21	(	(	PUNCT
framr-1725	262	22	0.0000	0.0000	NUM
framr-1725	262	23	)	)	PUNCT
framr-1725	262	24	0.099973	0.099973	NUM
framr-1725	262	25	(	(	PUNCT
framr-1725	262	26	0.0000	0.0000	NUM
framr-1725	262	27	)	)	PUNCT
framr-1725	262	28	c	c	NOUN
framr-1725	262	29	(	(	PUNCT
framr-1725	262	30	3	3	NUM
framr-1725	262	31	)	)	PUNCT
framr-1725	262	32	0.089652	0.089652	NUM
framr-1725	262	33	(	(	PUNCT
framr-1725	262	34	0.0000	0.0000	NUM
framr-1725	262	35	)	)	PUNCT
framr-1725	262	36	0.104704	0.104704	NUM
framr-1725	262	37	(	(	PUNCT
framr-1725	262	38	0.0000	0.0000	NUM
framr-1725	262	39	)	)	PUNCT
framr-1725	262	40	c	c	NOUN
framr-1725	262	41	(	(	PUNCT
framr-1725	262	42	3	3	NUM
framr-1725	262	43	)	)	PUNCT
framr-1725	262	44	0.15967	0.15967	NUM
framr-1725	262	45	(	(	PUNCT
framr-1725	262	46	0.0000	0.0000	NUM
framr-1725	262	47	)	)	PUNCT
framr-1725	263	1	0.173927	0.173927	NUM
framr-1725	263	2	(	(	PUNCT
framr-1725	263	3	0.0000	0.0000	NUM
framr-1725	263	4	)	)	PUNCT
framr-1725	263	5	c	c	NOUN
framr-1725	263	6	(	(	PUNCT
framr-1725	263	7	4	4	NUM
framr-1725	263	8	)	)	PUNCT
framr-1725	263	9	-0.006795	-0.006795	NOUN
framr-1725	263	10	(	(	PUNCT
framr-1725	263	11	0.0001	0.0001	NUM
framr-1725	263	12	)	)	PUNCT
framr-1725	263	13	-0.114367	-0.114367	NOUN
framr-1725	263	14	(	(	PUNCT
framr-1725	263	15	0.0000	0.0000	NUM
framr-1725	263	16	)	)	PUNCT
framr-1725	263	17	c	c	NOUN
framr-1725	263	18	(	(	PUNCT
framr-1725	263	19	4	4	NUM
framr-1725	263	20	)	)	PUNCT
framr-1725	263	21	-0.04264	-0.04264	NOUN
framr-1725	263	22	(	(	PUNCT
framr-1725	263	23	0.0000	0.0000	NUM
framr-1725	263	24	)	)	PUNCT
framr-1725	263	25	-0.120989	-0.120989	PUNCT
framr-1725	263	26	(	(	PUNCT
framr-1725	263	27	0.0000	0.0000	NUM
framr-1725	263	28	)	)	PUNCT
framr-1725	263	29	c	c	NOUN
framr-1725	263	30	(	(	PUNCT
framr-1725	263	31	4	4	NUM
framr-1725	263	32	)	)	PUNCT
framr-1725	263	33	-0.10200	-0.10200	NOUN
framr-1725	263	34	(	(	PUNCT
framr-1725	263	35	0.0000	0.0000	NUM
framr-1725	263	36	)	)	PUNCT
framr-1725	263	37	-0.084147	-0.084147	NOUN
framr-1725	263	38	(	(	PUNCT
framr-1725	263	39	0.0000	0.0000	NUM
framr-1725	263	40	)	)	PUNCT
framr-1725	263	41	c	c	NOUN
framr-1725	263	42	(	(	PUNCT
framr-1725	263	43	5	5	NUM
framr-1725	263	44	)	)	PUNCT
framr-1725	263	45	0.97370	0.97370	NUM
framr-1725	263	46	(	(	PUNCT
framr-1725	263	47	0.0000	0.0000	NUM
framr-1725	263	48	)	)	PUNCT
framr-1725	263	49	0.984802	0.984802	NUM
framr-1725	263	50	(	(	PUNCT
framr-1725	263	51	0.0000	0.0000	NUM
framr-1725	263	52	)	)	PUNCT
framr-1725	263	53	c	c	NOUN
framr-1725	263	54	(	(	PUNCT
framr-1725	263	55	5	5	NUM
framr-1725	263	56	)	)	PUNCT
framr-1725	263	57	0.98984	0.98984	NUM
framr-1725	263	58	(	(	PUNCT
framr-1725	263	59	0.0000	0.0000	NUM
framr-1725	263	60	)	)	PUNCT
framr-1725	263	61	0.98495	0.98495	NUM
framr-1725	263	62	(	(	PUNCT
framr-1725	263	63	0.0000	0.0000	NUM
framr-1725	263	64	)	)	PUNCT
framr-1725	263	65	c	c	NOUN
framr-1725	263	66	(	(	PUNCT
framr-1725	263	67	5	5	NUM
framr-1725	263	68	)	)	PUNCT
framr-1725	263	69	-.97987	-.97987	PUNCT
framr-1725	263	70	(	(	PUNCT
framr-1725	263	71	0.0000	0.0000	NUM
framr-1725	263	72	)	)	PUNCT
framr-1725	263	73	0.973512	0.973512	NUM
framr-1725	263	74	(	(	PUNCT
framr-1725	263	75	0.0000	0.0000	NUM
framr-1725	263	76	)	)	PUNCT
framr-1725	263	77	r	r	NOUN
framr-1725	263	78	-	-	PUNCT
framr-1725	263	79	square	square	NOUN
framr-1725	263	80	-0.000148	-0.000148	NOUN
framr-1725	263	81	-0.000042	-0.000042	PUNCT
framr-1725	264	1	r	r	NOUN
framr-1725	264	2	square	square	ADJ
framr-1725	264	3	-0.000023	-0.000023	NOUN
framr-1725	264	4	-0.000006	-0.000006	X
framr-1725	264	5	r	r	NOUN
framr-1725	264	6	square	square	ADJ
framr-1725	264	7	-0.000064	-0.000064	NOUN
framr-1725	264	8	-0.000079	-0.000079	PROPN
framr-1725	264	9	dw	dw	PROPN
framr-1725	265	1	1.9597	1.9597	NUM
framr-1725	265	2	2.1505	2.1505	NUM
framr-1725	265	3	dw	dw	PROPN
framr-1725	265	4	1.83213	1.83213	NUM
framr-1725	265	5	2.1278	2.1278	NUM
framr-1725	265	6	dw	dw	NOUN
framr-1725	265	7	2.0159	2.0159	NUM
framr-1725	265	8	2.062440	2.062440	NUM
framr-1725	265	9	figures	figure	NOUN
framr-1725	265	10	in	in	ADP
framr-1725	265	11	parenthesis	parenthesis	NOUN
framr-1725	265	12	represent	represent	VERB
framr-1725	265	13	the	the	DET
framr-1725	265	14	p	p	NOUN
framr-1725	265	15	-	-	PUNCT
framr-1725	265	16	values	value	NOUN
framr-1725	265	17	.	.	PUNCT
framr-1725	266	1	the	the	DET
framr-1725	266	2	coefficients	coefficient	NOUN
framr-1725	266	3	of	of	ADP
framr-1725	266	4	the	the	DET
framr-1725	266	5	constant	constant	ADJ
framr-1725	266	6	in	in	ADP
framr-1725	266	7	the	the	DET
framr-1725	266	8	mean	mean	ADJ
framr-1725	266	9	equation	equation	NOUN
framr-1725	266	10	from	from	ADP
framr-1725	266	11	table	table	NOUN
framr-1725	266	12	4.3.3	4.3.3	NUM
framr-1725	266	13	are	be	AUX
framr-1725	266	14	not	not	PART
framr-1725	266	15	statistically	statistically	ADV
framr-1725	266	16	significant	significant	ADJ
framr-1725	266	17	,	,	PUNCT
framr-1725	266	18	except	except	SCONJ
framr-1725	266	19	for	for	ADP
framr-1725	266	20	that	that	PRON
framr-1725	266	21	of	of	ADP
framr-1725	266	22	the	the	DET
framr-1725	266	23	dow	dow	PROPN
framr-1725	266	24	jones	jones	PROPN
framr-1725	266	25	industrial	industrial	PROPN
framr-1725	266	26	index	index	NOUN
framr-1725	266	27	of	of	ADP
framr-1725	266	28	the	the	DET
framr-1725	266	29	first	first	ADJ
framr-1725	266	30	subsample	subsample	NOUN
framr-1725	266	31	which	which	PRON
framr-1725	266	32	is	be	AUX
framr-1725	266	33	significant	significant	ADJ
framr-1725	266	34	at	at	ADP
framr-1725	266	35	5	5	NUM
framr-1725	266	36	%	%	NOUN
framr-1725	266	37	level	level	NOUN
framr-1725	266	38	.	.	PUNCT
framr-1725	267	1	but	but	CCONJ
framr-1725	267	2	all	all	DET
framr-1725	267	3	the	the	DET
framr-1725	267	4	parameters	parameter	NOUN
framr-1725	267	5	of	of	ADP
framr-1725	267	6	the	the	DET
framr-1725	267	7	variance	variance	NOUN
framr-1725	267	8	equation	equation	NOUN
framr-1725	267	9	for	for	ADP
framr-1725	267	10	all	all	DET
framr-1725	267	11	the	the	DET
framr-1725	267	12	samples	sample	NOUN
framr-1725	267	13	were	be	AUX
framr-1725	267	14	found	find	VERB
framr-1725	267	15	to	to	PART
framr-1725	267	16	be	be	AUX
framr-1725	267	17	statistically	statistically	ADV
framr-1725	267	18	significant	significant	ADJ
framr-1725	267	19	at	at	ADP
framr-1725	267	20	all	all	DET
framr-1725	267	21	level	level	NOUN
framr-1725	267	22	of	of	ADP
framr-1725	267	23	significance	significance	NOUN
framr-1725	267	24	.	.	PUNCT
framr-1725	268	1	the	the	DET
framr-1725	268	2	r	r	NOUN
framr-1725	268	3	square	square	NOUN
framr-1725	268	4	here	here	ADV
framr-1725	268	5	is	be	AUX
framr-1725	268	6	again	again	ADV
framr-1725	268	7	negative	negative	ADJ
framr-1725	268	8	like	like	ADP
framr-1725	268	9	that	that	PRON
framr-1725	268	10	of	of	ADP
framr-1725	268	11	the	the	DET
framr-1725	268	12	other	other	ADJ
framr-1725	268	13	arch	arch	ADJ
framr-1725	268	14	type	type	NOUN
framr-1725	268	15	models	model	NOUN
framr-1725	268	16	,	,	PUNCT
framr-1725	268	17	but	but	CCONJ
framr-1725	268	18	the	the	DET
framr-1725	268	19	reason	reason	NOUN
framr-1725	268	20	for	for	ADP
framr-1725	268	21	this	this	PRON
framr-1725	268	22	has	have	AUX
framr-1725	268	23	been	be	AUX
framr-1725	268	24	explained	explain	VERB
framr-1725	268	25	before	before	ADV
framr-1725	268	26	in	in	ADP
framr-1725	268	27	section	section	NOUN
framr-1725	268	28	3.6.3	3.6.3	NUM
framr-1725	268	29	.	.	PUNCT
framr-1725	269	1	this	this	DET
framr-1725	269	2	model	model	NOUN
framr-1725	269	3	has	have	VERB
framr-1725	269	4	an	an	DET
framr-1725	269	5	overwhelming	overwhelming	ADJ
framr-1725	269	6	advantage	advantage	NOUN
framr-1725	269	7	over	over	ADP
framr-1725	269	8	the	the	DET
framr-1725	269	9	garch	garch	NOUN
framr-1725	269	10	model	model	NOUN
framr-1725	269	11	presented	present	VERB
framr-1725	269	12	in	in	ADP
framr-1725	269	13	table	table	NOUN
framr-1725	269	14	4.3.2	4.3.2	NOUN
framr-1725	269	15	above	above	ADV
framr-1725	269	16	.	.	PUNCT
framr-1725	270	1	the	the	DET
framr-1725	270	2	reason	reason	NOUN
framr-1725	270	3	being	be	AUX
framr-1725	270	4	that	that	SCONJ
framr-1725	270	5	there	there	PRON
framr-1725	270	6	are	be	VERB
framr-1725	270	7	no	no	DET
framr-1725	270	8	non	non	ADJ
framr-1725	270	9	-	-	ADJ
framr-1725	270	10	negativity	negativity	ADJ
framr-1725	270	11	restrictions	restriction	NOUN
framr-1725	270	12	placed	place	VERB
framr-1725	270	13	on	on	ADP
framr-1725	270	14	the	the	DET
framr-1725	270	15	parameters	parameter	NOUN
framr-1725	270	16	of	of	ADP
framr-1725	270	17	the	the	DET
framr-1725	270	18	model	model	NOUN
framr-1725	270	19	,	,	PUNCT
framr-1725	270	20	as	as	SCONJ
framr-1725	270	21	the	the	DET
framr-1725	270	22	negative	negative	ADJ
framr-1725	270	23	results	result	NOUN
framr-1725	270	24	found	find	VERB
framr-1725	270	25	in	in	ADP
framr-1725	270	26	table	table	NOUN
framr-1725	270	27	4.3.3	4.3.3	NUM
framr-1725	270	28	will	will	AUX
framr-1725	270	29	be	be	AUX
framr-1725	270	30	taken	take	VERB
framr-1725	270	31	care	care	NOUN
framr-1725	270	32	of	of	ADP
framr-1725	270	33	by	by	ADP
framr-1725	270	34	the	the	DET
framr-1725	270	35	log	log	NOUN
framr-1725	270	36	of	of	ADP
framr-1725	270	37	garch	garch	NOUN
framr-1725	270	38	represented	represent	VERB
framr-1725	270	39	as	as	ADP
framr-1725	270	40	the	the	DET
framr-1725	270	41	dependent	dependent	ADJ
framr-1725	270	42	variable	variable	NOUN
framr-1725	270	43	in	in	ADP
framr-1725	270	44	the	the	DET
framr-1725	270	45	above	above	ADJ
framr-1725	270	46	model	model	NOUN
framr-1725	270	47	.	.	PUNCT
framr-1725	271	1	4.4	4.4	NUM
framr-1725	271	2	.	.	PUNCT
framr-1725	272	1	diagnostic	diagnostic	ADJ
framr-1725	272	2	checks	check	NOUN
framr-1725	272	3	the	the	DET
framr-1725	272	4	arch	arch	ADJ
framr-1725	272	5	models	model	NOUN
framr-1725	272	6	in	in	ADP
framr-1725	272	7	the	the	DET
framr-1725	272	8	various	various	ADJ
framr-1725	272	9	subsamples	subsample	NOUN
framr-1725	272	10	were	be	AUX
framr-1725	272	11	checked	check	VERB
framr-1725	272	12	that	that	SCONJ
framr-1725	272	13	they	they	PRON
framr-1725	272	14	do	do	AUX
framr-1725	272	15	n’t	not	PART
framr-1725	272	16	breach	breach	VERB
framr-1725	272	17	the	the	DET
framr-1725	272	18	stationarity	stationarity	NOUN
framr-1725	272	19	condition	condition	NOUN
framr-1725	272	20	explained	explain	VERB
framr-1725	272	21	in	in	ADP
framr-1725	272	22	section	section	NOUN
framr-1725	272	23	3.6.4	3.6.4	NUM
framr-1725	272	24	.	.	PUNCT
framr-1725	273	1	for	for	ADP
framr-1725	273	2	the	the	DET
framr-1725	273	3	arch	arch	ADJ
framr-1725	273	4	model	model	NOUN
framr-1725	273	5	,	,	PUNCT
framr-1725	273	6	table	table	NOUN
framr-1725	273	7	4.5.1	4.5.1	NUM
framr-1725	273	8	shows	show	VERB
framr-1725	273	9	that	that	SCONJ
framr-1725	273	10	the	the	DET
framr-1725	273	11	stationarity	stationarity	NOUN
framr-1725	273	12	conditions	condition	NOUN
framr-1725	273	13	for	for	ADP
framr-1725	273	14	the	the	DET
framr-1725	273	15	arch	arch	ADJ
framr-1725	273	16	models	model	NOUN
framr-1725	273	17	are	be	AUX
framr-1725	273	18	fulfilled	fulfil	VERB
framr-1725	273	19	as	as	ADP
framr-1725	273	20	the	the	DET
framr-1725	273	21	sum	sum	NOUN
framr-1725	273	22	of	of	ADP
framr-1725	273	23	the	the	DET
framr-1725	273	24	alpha	alpha	ADJ
framr-1725	273	25	coefficients	coefficient	NOUN
framr-1725	273	26	are	be	AUX
framr-1725	273	27	close	close	ADJ
framr-1725	273	28	to	to	ADP
framr-1725	273	29	unity	unity	NOUN
framr-1725	273	30	.	.	PUNCT
framr-1725	274	1	this	this	DET
framr-1725	274	2	stationarity	stationarity	NOUN
framr-1725	274	3	condition	condition	NOUN
framr-1725	274	4	satisfies	satisfy	VERB
framr-1725	274	5	that	that	SCONJ
framr-1725	274	6	the	the	DET
framr-1725	274	7	models	model	NOUN
framr-1725	274	8	in	in	ADP
framr-1725	274	9	table	table	NOUN
framr-1725	274	10	4.5.1	4.5.1	NUM
framr-1725	274	11	are	be	AUX
framr-1725	274	12	modelled	model	VERB
framr-1725	274	13	correctly	correctly	ADV
framr-1725	274	14	.	.	PUNCT
framr-1725	275	1	table	table	NOUN
framr-1725	275	2	4.5.1	4.5.1	NUM
framr-1725	275	3	shows	show	VERB
framr-1725	275	4	estimates	estimate	NOUN
framr-1725	275	5	of	of	ADP
framr-1725	275	6	the	the	DET
framr-1725	275	7	garch	garch	NOUN
framr-1725	275	8	model	model	NOUN
framr-1725	275	9	and	and	CCONJ
framr-1725	275	10	the	the	DET
framr-1725	275	11	stationarity	stationarity	NOUN
framr-1725	275	12	condition	condition	NOUN
framr-1725	275	13	here	here	ADV
framr-1725	275	14	is	be	AUX
framr-1725	275	15	satisfied	satisfied	ADJ
framr-1725	275	16	also	also	ADV
framr-1725	275	17	as	as	SCONJ
framr-1725	275	18	the	the	DET
framr-1725	275	19	coefficients	coefficient	NOUN
framr-1725	275	20	of	of	ADP
framr-1725	275	21	the	the	DET
framr-1725	275	22	variance	variance	NOUN
framr-1725	275	23	equation	equation	NOUN
framr-1725	275	24	were	be	AUX
framr-1725	275	25	very	very	ADV
framr-1725	275	26	close	close	ADJ
framr-1725	275	27	to	to	ADP
framr-1725	275	28	unity	unity	NOUN
framr-1725	275	29	,	,	PUNCT
framr-1725	275	30	indicating	indicate	VERB
framr-1725	275	31	evidence	evidence	NOUN
framr-1725	275	32	of	of	ADP
framr-1725	275	33	stationarity	stationarity	NOUN
framr-1725	275	34	in	in	ADP
framr-1725	275	35	the	the	DET
framr-1725	275	36	model	model	NOUN
framr-1725	275	37	and	and	CCONJ
framr-1725	275	38	that	that	SCONJ
framr-1725	275	39	the	the	DET
framr-1725	275	40	simple	simple	ADJ
framr-1725	275	41	garch	garch	NOUN
framr-1725	275	42	(	(	PUNCT
framr-1725	275	43	1	1	NUM
framr-1725	275	44	1	1	NUM
framr-1725	275	45	)	)	PUNCT
framr-1725	275	46	model	model	NOUN
framr-1725	275	47	is	be	AUX
framr-1725	275	48	adequately	adequately	ADV
framr-1725	275	49	modelled	model	VERB
framr-1725	275	50	.	.	PUNCT
framr-1725	276	1	the	the	DET
framr-1725	276	2	overwhelming	overwhelming	ADJ
framr-1725	276	3	advantage	advantage	NOUN
framr-1725	276	4	of	of	ADP
framr-1725	276	5	the	the	DET
framr-1725	276	6	egarch	egarch	NOUN
framr-1725	276	7	model	model	NOUN
framr-1725	276	8	makes	make	VERB
framr-1725	276	9	the	the	DET
framr-1725	276	10	stationarity	stationarity	NOUN
framr-1725	276	11	condition	condition	NOUN
framr-1725	276	12	satisfied	satisfied	ADJ
framr-1725	276	13	as	as	SCONJ
framr-1725	276	14	there	there	PRON
framr-1725	276	15	are	be	VERB
framr-1725	276	16	no	no	DET
framr-1725	276	17	restrictions	restriction	NOUN
framr-1725	276	18	to	to	ADP
framr-1725	276	19	the	the	DET
framr-1725	276	20	model	model	NOUN
framr-1725	276	21	.	.	PUNCT
framr-1725	277	1	serial	serial	ADJ
framr-1725	277	2	correlation	correlation	NOUN
framr-1725	277	3	of	of	ADP
framr-1725	277	4	standardised	standardised	ADJ
framr-1725	277	5	residuals	residual	NOUN
framr-1725	277	6	the	the	DET
framr-1725	277	7	arch	arch	NOUN
framr-1725	277	8	lm	lm	PROPN
framr-1725	277	9	test	test	NOUN
framr-1725	277	10	was	be	AUX
framr-1725	277	11	employed	employ	VERB
framr-1725	277	12	after	after	ADP
framr-1725	277	13	estimating	estimate	VERB
framr-1725	277	14	the	the	DET
framr-1725	277	15	arch	arch	ADJ
framr-1725	277	16	model	model	NOUN
framr-1725	277	17	to	to	PART
framr-1725	277	18	check	check	VERB
framr-1725	277	19	whether	whether	SCONJ
framr-1725	277	20	the	the	DET
framr-1725	277	21	presence	presence	NOUN
framr-1725	277	22	of	of	ADP
framr-1725	277	23	heteroskedasticity	heteroskedasticity	NOUN
framr-1725	277	24	in	in	ADP
framr-1725	277	25	the	the	DET
framr-1725	277	26	autoregressive	autoregressive	ADJ
framr-1725	277	27	model	model	NOUN
framr-1725	277	28	are	be	AUX
framr-1725	277	29	not	not	PART
framr-1725	277	30	present	present	ADJ
framr-1725	277	31	in	in	ADP
framr-1725	277	32	the	the	DET
framr-1725	277	33	arch	arch	ADJ
framr-1725	277	34	models	model	NOUN
framr-1725	277	35	estimated	estimate	VERB
framr-1725	277	36	for	for	ADP
framr-1725	277	37	the	the	DET
framr-1725	277	38	various	various	ADJ
framr-1725	277	39	return	return	NOUN
framr-1725	277	40	series	series	NOUN
framr-1725	277	41	.	.	PUNCT
framr-1725	278	1	the	the	DET
framr-1725	278	2	arch	arch	ADJ
framr-1725	278	3	lm	lm	X
framr-1725	278	4	test	test	NOUN
framr-1725	278	5	for	for	ADP
framr-1725	278	6	the	the	DET
framr-1725	278	7	various	various	ADJ
framr-1725	278	8	indices	index	NOUN
framr-1725	278	9	in	in	ADP
framr-1725	278	10	tables	table	NOUN
framr-1725	278	11	4.5.1	4.5.1	NUM
framr-1725	278	12	and	and	CCONJ
framr-1725	278	13	4.5.1	4.5.1	NUM
framr-1725	278	14	suggests	suggest	VERB
framr-1725	278	15	p	p	NOUN
framr-1725	278	16	values	value	NOUN
framr-1725	278	17	that	that	PRON
framr-1725	278	18	are	be	AUX
framr-1725	278	19	very	very	ADV
framr-1725	278	20	high	high	ADJ
framr-1725	278	21	and	and	CCONJ
framr-1725	278	22	in	in	ADP
framr-1725	278	23	most	most	ADJ
framr-1725	278	24	cases	case	NOUN
framr-1725	278	25	close	close	ADJ
framr-1725	278	26	to	to	PART
framr-1725	278	27	100	100	NUM
framr-1725	278	28	%	%	NOUN
framr-1725	278	29	.	.	PUNCT
framr-1725	279	1	we	we	PRON
framr-1725	279	2	therefore	therefore	ADV
framr-1725	279	3	fail	fail	VERB
framr-1725	279	4	to	to	PART
framr-1725	279	5	reject	reject	VERB
framr-1725	279	6	the	the	DET
framr-1725	279	7	null	null	ADJ
framr-1725	279	8	hypothesis	hypothesis	NOUN
framr-1725	279	9	of	of	ADP
framr-1725	279	10	homoskedasticity	homoskedasticity	NOUN
framr-1725	279	11	and	and	CCONJ
framr-1725	279	12	conclude	conclude	VERB
framr-1725	279	13	that	that	SCONJ
framr-1725	279	14	there	there	PRON
framr-1725	279	15	are	be	VERB
framr-1725	279	16	no	no	DET
framr-1725	279	17	heteroskedasticity	heteroskedasticity	NOUN
framr-1725	279	18	in	in	ADP
framr-1725	279	19	the	the	DET
framr-1725	279	20	model	model	NOUN
framr-1725	279	21	.	.	PUNCT
framr-1725	280	1	this	this	PRON
framr-1725	280	2	is	be	AUX
framr-1725	280	3	indicated	indicate	VERB
framr-1725	280	4	by	by	ADP
framr-1725	280	5	the	the	DET
framr-1725	280	6	high	high	ADJ
framr-1725	280	7	p	p	NOUN
framr-1725	280	8	values	value	NOUN
framr-1725	280	9	suggested	suggest	VERB
framr-1725	280	10	by	by	ADP
framr-1725	280	11	the	the	DET
framr-1725	280	12	arch	arch	ADJ
framr-1725	280	13	lm	lm	PROPN
framr-1725	280	14	test	test	NOUN
framr-1725	280	15	.	.	PUNCT
framr-1725	281	1	this	this	PRON
framr-1725	281	2	suggests	suggest	VERB
framr-1725	281	3	that	that	SCONJ
framr-1725	281	4	the	the	DET
framr-1725	281	5	arch	arch	ADJ
framr-1725	281	6	models	model	NOUN
framr-1725	281	7	are	be	AUX
framr-1725	281	8	adequately	adequately	ADV
framr-1725	281	9	modelled	model	VERB
framr-1725	281	10	and	and	CCONJ
framr-1725	281	11	that	that	SCONJ
framr-1725	281	12	there	there	PRON
framr-1725	281	13	are	be	VERB
framr-1725	281	14	no	no	DET
framr-1725	281	15	serial	serial	ADJ
framr-1725	281	16	correlations	correlation	NOUN
framr-1725	281	17	in	in	ADP
framr-1725	281	18	the	the	DET
framr-1725	281	19	model	model	NOUN
framr-1725	281	20	.	.	PUNCT
framr-1725	282	1	4.4.1	4.4.1	X
framr-1725	282	2	.	.	PUNCT
framr-1725	282	3	dynamic	dynamic	ADJ
framr-1725	282	4	forecasting	forecasting	NOUN
framr-1725	282	5	fig	fig	NOUN
framr-1725	282	6	4.5.1a	4.5.1a	NOUN
framr-1725	282	7	to	to	PART
framr-1725	282	8	fig	fig	VERB
framr-1725	282	9	4.5.1r	4.5.1r	PROPN
framr-1725	282	10	(	(	PUNCT
framr-1725	282	11	at	at	ADP
framr-1725	282	12	the	the	DET
framr-1725	282	13	appendix	appendix	NOUN
framr-1725	282	14	)	)	PUNCT
framr-1725	282	15	illustrates	illustrate	VERB
framr-1725	282	16	the	the	DET
framr-1725	282	17	in	in	ADP
framr-1725	282	18	sample	sample	NOUN
framr-1725	282	19	actual	actual	ADJ
framr-1725	282	20	standard	standard	ADJ
framr-1725	282	21	deviation	deviation	NOUN
framr-1725	282	22	of	of	ADP
framr-1725	282	23	the	the	DET
framr-1725	282	24	first	first	ADJ
framr-1725	282	25	and	and	CCONJ
framr-1725	282	26	second	second	ADJ
framr-1725	282	27	sub	sub	NOUN
framr-1725	282	28	samples	sample	NOUN
framr-1725	282	29	of	of	ADP
framr-1725	282	30	the	the	DET
framr-1725	282	31	three	three	NUM
framr-1725	282	32	indices	index	NOUN
framr-1725	282	33	under	under	ADP
framr-1725	282	34	investigation	investigation	NOUN
framr-1725	282	35	.	.	PUNCT
framr-1725	283	1	this	this	PRON
framr-1725	283	2	represents	represent	VERB
framr-1725	283	3	521	521	NUM
framr-1725	283	4	weeks	week	NOUN
framr-1725	283	5	with	with	ADP
framr-1725	283	6	week1	week1	PROPN
framr-1725	283	7	to	to	ADP
framr-1725	283	8	week	week	NOUN
framr-1725	283	9	261	261	NUM
framr-1725	283	10	in	in	ADP
framr-1725	283	11	sample	sample	NOUN
framr-1725	283	12	conditional	conditional	ADJ
framr-1725	283	13	standard	standard	ADJ
framr-1725	283	14	deviation	deviation	NOUN
framr-1725	283	15	values	value	NOUN
framr-1725	283	16	,	,	PUNCT
framr-1725	283	17	followed	follow	VERB
framr-1725	283	18	by	by	ADP
framr-1725	283	19	week	week	NOUN
framr-1725	283	20	262	262	NUM
framr-1725	283	21	to	to	PART
framr-1725	283	22	week	week	NOUN
framr-1725	283	23	521	521	NUM
framr-1725	283	24	dynamic	dynamic	ADJ
framr-1725	283	25	out	out	ADP
framr-1725	283	26	of	of	ADP
framr-1725	283	27	sample	sample	NOUN
framr-1725	283	28	forecast	forecast	NOUN
framr-1725	283	29	.	.	PUNCT
framr-1725	284	1	financial	financial	ADJ
framr-1725	284	2	risk	risk	NOUN
framr-1725	284	3	and	and	CCONJ
framr-1725	284	4	management	management	NOUN
framr-1725	284	5	reviews	review	NOUN
framr-1725	284	6	,	,	PUNCT
framr-1725	284	7	2018	2018	NUM
framr-1725	284	8	,	,	PUNCT
framr-1725	284	9	4(1	4(1	NOUN
framr-1725	284	10	):	):	PUNCT
framr-1725	284	11	1	1	NUM
framr-1725	284	12	-	-	SYM
framr-1725	284	13	23	23	NUM
framr-1725	284	14	12	12	NUM
framr-1725	284	15	©	©	PROPN
framr-1725	284	16	2018	2018	NUM
framr-1725	284	17	conscientia	conscientia	PROPN
framr-1725	284	18	beam	beam	PROPN
framr-1725	284	19	.	.	PUNCT
framr-1725	285	1	all	all	DET
framr-1725	285	2	rights	right	NOUN
framr-1725	285	3	reserved	reserve	VERB
framr-1725	285	4	.	.	PUNCT
framr-1725	286	1	arch	arch	ADJ
framr-1725	286	2	type	type	NOUN
framr-1725	286	3	models	model	NOUN
framr-1725	286	4	in	in	ADP
framr-1725	286	5	most	most	ADJ
framr-1725	286	6	cases	case	NOUN
framr-1725	286	7	seem	seem	VERB
framr-1725	286	8	to	to	PART
framr-1725	286	9	better	well	ADV
framr-1725	286	10	describe	describe	VERB
framr-1725	286	11	samples	sample	NOUN
framr-1725	286	12	in	in	ADP
framr-1725	286	13	which	which	PRON
framr-1725	286	14	volatility	volatility	NOUN
framr-1725	286	15	clustering	clustering	NOUN
framr-1725	286	16	are	be	AUX
framr-1725	286	17	more	more	ADV
framr-1725	286	18	transparent	transparent	ADJ
framr-1725	286	19	.	.	PUNCT
framr-1725	287	1	in	in	ADP
framr-1725	287	2	all	all	DET
framr-1725	287	3	the	the	DET
framr-1725	287	4	graphs	graph	NOUN
framr-1725	287	5	presented	present	VERB
framr-1725	287	6	above	above	ADV
framr-1725	287	7	,	,	PUNCT
framr-1725	287	8	the	the	DET
framr-1725	287	9	arch	arch	ADJ
framr-1725	287	10	type	type	NOUN
framr-1725	287	11	models	model	NOUN
framr-1725	287	12	tend	tend	VERB
framr-1725	287	13	to	to	PART
framr-1725	287	14	follow	follow	VERB
framr-1725	287	15	the	the	DET
framr-1725	287	16	in	in	ADP
framr-1725	287	17	sample	sample	NOUN
framr-1725	287	18	actual	actual	ADJ
framr-1725	287	19	standard	standard	ADJ
framr-1725	287	20	deviation	deviation	NOUN
framr-1725	287	21	quite	quite	ADV
framr-1725	287	22	closely	closely	ADV
framr-1725	287	23	than	than	ADP
framr-1725	287	24	any	any	DET
framr-1725	287	25	other	other	ADJ
framr-1725	287	26	models	model	NOUN
framr-1725	287	27	in	in	ADP
framr-1725	287	28	most	most	ADJ
framr-1725	287	29	cases	case	NOUN
framr-1725	287	30	.	.	PUNCT
framr-1725	288	1	for	for	ADP
framr-1725	288	2	the	the	DET
framr-1725	288	3	dow	dow	PROPN
framr-1725	288	4	jones	jones	PROPN
framr-1725	288	5	industrial	industrial	PROPN
framr-1725	288	6	index	index	PROPN
framr-1725	288	7	,	,	PUNCT
framr-1725	288	8	the	the	DET
framr-1725	288	9	arch	arch	ADJ
framr-1725	288	10	model	model	NOUN
framr-1725	288	11	seems	seem	VERB
framr-1725	288	12	to	to	PART
framr-1725	288	13	follow	follow	VERB
framr-1725	288	14	the	the	DET
framr-1725	288	15	actual	actual	ADJ
framr-1725	288	16	in	in	ADP
framr-1725	288	17	sample	sample	NOUN
framr-1725	288	18	standard	standard	ADJ
framr-1725	288	19	deviation	deviation	NOUN
framr-1725	288	20	quite	quite	ADV
framr-1725	288	21	closely	closely	ADV
framr-1725	288	22	in	in	ADP
framr-1725	288	23	the	the	DET
framr-1725	288	24	first	first	ADJ
framr-1725	288	25	sub	sub	NOUN
framr-1725	288	26	sample	sample	NOUN
framr-1725	288	27	than	than	ADP
framr-1725	288	28	those	those	PRON
framr-1725	288	29	of	of	ADP
framr-1725	288	30	the	the	DET
framr-1725	288	31	garch	garch	NOUN
framr-1725	288	32	and	and	CCONJ
framr-1725	288	33	egarch	egarch	VERB
framr-1725	288	34	in	in	ADP
framr-1725	288	35	fig	fig	NOUN
framr-1725	288	36	4.5.1	4.5.1	NUM
framr-1725	288	37	a	a	DET
framr-1725	288	38	to	to	PART
framr-1725	288	39	fig	fig	VERB
framr-1725	288	40	4.5.1c	4.5.1c	PROPN
framr-1725	288	41	.	.	PUNCT
framr-1725	289	1	the	the	DET
framr-1725	289	2	second	second	ADJ
framr-1725	289	3	model	model	NOUN
framr-1725	289	4	that	that	PRON
framr-1725	289	5	best	good	ADJ
framr-1725	289	6	forecast	forecast	VERB
framr-1725	289	7	volatility	volatility	NOUN
framr-1725	289	8	from	from	ADP
framr-1725	289	9	the	the	DET
framr-1725	289	10	visual	visual	ADJ
framr-1725	289	11	investigation	investigation	NOUN
framr-1725	289	12	is	be	AUX
framr-1725	289	13	the	the	DET
framr-1725	289	14	egarch	egarch	NOUN
framr-1725	289	15	model	model	NOUN
framr-1725	289	16	in	in	ADP
framr-1725	289	17	fig	fig	NOUN
framr-1725	289	18	4.5.1c	4.5.1c	PROPN
framr-1725	289	19	as	as	SCONJ
framr-1725	289	20	they	they	PRON
framr-1725	289	21	tend	tend	VERB
framr-1725	289	22	to	to	PART
framr-1725	289	23	follow	follow	VERB
framr-1725	289	24	the	the	DET
framr-1725	289	25	actual	actual	ADJ
framr-1725	289	26	in	in	ADP
framr-1725	289	27	sample	sample	NOUN
framr-1725	289	28	standard	standard	ADJ
framr-1725	289	29	deviation	deviation	NOUN
framr-1725	289	30	quite	quite	ADV
framr-1725	289	31	closely	closely	ADV
framr-1725	289	32	.	.	PUNCT
framr-1725	290	1	for	for	ADP
framr-1725	290	2	the	the	DET
framr-1725	290	3	second	second	ADJ
framr-1725	290	4	sub	sub	NOUN
framr-1725	290	5	sample	sample	NOUN
framr-1725	290	6	,	,	PUNCT
framr-1725	290	7	the	the	DET
framr-1725	290	8	egarch	egarch	NOUN
framr-1725	290	9	model	model	NOUN
framr-1725	290	10	follows	follow	VERB
framr-1725	290	11	the	the	DET
framr-1725	290	12	actual	actual	ADJ
framr-1725	290	13	in	in	ADP
framr-1725	290	14	sample	sample	NOUN
framr-1725	290	15	better	well	ADV
framr-1725	290	16	than	than	ADP
framr-1725	290	17	the	the	DET
framr-1725	290	18	garch	garch	NOUN
framr-1725	290	19	and	and	CCONJ
framr-1725	290	20	arch	arch	ADJ
framr-1725	290	21	model	model	NOUN
framr-1725	290	22	and	and	CCONJ
framr-1725	290	23	hence	hence	ADV
framr-1725	290	24	tends	tend	VERB
framr-1725	290	25	to	to	PART
framr-1725	290	26	forecast	forecast	VERB
framr-1725	290	27	volatility	volatility	NOUN
framr-1725	290	28	better	well	ADV
framr-1725	290	29	from	from	ADP
framr-1725	290	30	fig	fig	NOUN
framr-1725	290	31	4.5.1d	4.5.1d	PROPN
framr-1725	290	32	to	to	ADP
framr-1725	290	33	fig	fig	PROPN
framr-1725	290	34	4.5.1f	4.5.1f	PROPN
framr-1725	290	35	.	.	PUNCT
framr-1725	291	1	fig	fig	NOUN
framr-1725	291	2	4.5.1	4.5.1	NUM
framr-1725	291	3	g	g	NOUN
framr-1725	291	4	to	to	PART
framr-1725	291	5	fig	fig	VERB
framr-1725	291	6	4.5.1i	4.5.1i	NOUN
framr-1725	291	7	at	at	ADP
framr-1725	291	8	the	the	DET
framr-1725	291	9	appendix	appendix	NOUN
framr-1725	291	10	represents	represent	VERB
framr-1725	291	11	the	the	DET
framr-1725	291	12	first	first	ADJ
framr-1725	291	13	sub	sub	NOUN
framr-1725	291	14	sample	sample	NOUN
framr-1725	291	15	of	of	ADP
framr-1725	291	16	ftse	ftse	PROPN
framr-1725	291	17	100	100	NUM
framr-1725	291	18	.	.	PUNCT
framr-1725	292	1	the	the	DET
framr-1725	292	2	arch	arch	ADJ
framr-1725	292	3	model	model	NOUN
framr-1725	292	4	in	in	ADP
framr-1725	292	5	this	this	DET
framr-1725	292	6	case	case	NOUN
framr-1725	292	7	,	,	PUNCT
framr-1725	292	8	forecasts	forecast	VERB
framr-1725	292	9	volatility	volatility	NOUN
framr-1725	292	10	better	well	ADV
framr-1725	292	11	than	than	ADP
framr-1725	292	12	the	the	DET
framr-1725	292	13	garch	garch	NOUN
framr-1725	292	14	and	and	CCONJ
framr-1725	292	15	egarch	egarch	NOUN
framr-1725	292	16	model	model	NOUN
framr-1725	292	17	,	,	PUNCT
framr-1725	292	18	as	as	SCONJ
framr-1725	292	19	they	they	PRON
framr-1725	292	20	tend	tend	VERB
framr-1725	292	21	to	to	PART
framr-1725	292	22	follow	follow	VERB
framr-1725	292	23	the	the	DET
framr-1725	292	24	actual	actual	ADJ
framr-1725	292	25	in	in	ADP
framr-1725	292	26	sample	sample	NOUN
framr-1725	292	27	standard	standard	ADJ
framr-1725	292	28	deviation	deviation	NOUN
framr-1725	292	29	with	with	ADP
framr-1725	292	30	high	high	ADJ
framr-1725	292	31	peaks	peak	NOUN
framr-1725	292	32	.	.	PUNCT
framr-1725	293	1	the	the	DET
framr-1725	293	2	garch	garch	NOUN
framr-1725	293	3	model	model	NOUN
framr-1725	293	4	seems	seem	VERB
framr-1725	293	5	to	to	PART
framr-1725	293	6	follow	follow	VERB
framr-1725	293	7	the	the	DET
framr-1725	293	8	actual	actual	ADJ
framr-1725	293	9	in	in	ADP
framr-1725	293	10	sample	sample	NOUN
framr-1725	293	11	quite	quite	ADV
framr-1725	293	12	closely	closely	ADV
framr-1725	293	13	after	after	ADP
framr-1725	293	14	the	the	DET
framr-1725	293	15	arch	arch	ADJ
framr-1725	293	16	model	model	NOUN
framr-1725	293	17	.	.	PUNCT
framr-1725	294	1	again	again	ADV
framr-1725	294	2	for	for	ADP
framr-1725	294	3	the	the	DET
framr-1725	294	4	second	second	ADJ
framr-1725	294	5	sub	sub	NOUN
framr-1725	294	6	sample	sample	NOUN
framr-1725	294	7	the	the	DET
framr-1725	294	8	arch	arch	ADJ
framr-1725	294	9	model	model	NOUN
framr-1725	294	10	seems	seem	VERB
framr-1725	294	11	to	to	PART
framr-1725	294	12	follow	follow	VERB
framr-1725	294	13	the	the	DET
framr-1725	294	14	actual	actual	ADJ
framr-1725	294	15	in	in	ADP
framr-1725	294	16	sample	sample	NOUN
framr-1725	294	17	better	well	ADV
framr-1725	294	18	than	than	ADP
framr-1725	294	19	the	the	DET
framr-1725	294	20	garch	garch	NOUN
framr-1725	294	21	and	and	CCONJ
framr-1725	294	22	egarch	egarch	NOUN
framr-1725	294	23	model	model	NOUN
framr-1725	294	24	.	.	PUNCT
framr-1725	295	1	this	this	PRON
framr-1725	295	2	is	be	AUX
framr-1725	295	3	illustrated	illustrate	VERB
framr-1725	295	4	in	in	ADP
framr-1725	295	5	fig	fig	NOUN
framr-1725	295	6	4.5.1j	4.5.1j	NUM
framr-1725	295	7	to	to	PART
framr-1725	295	8	fig	fig	VERB
framr-1725	295	9	4.5.1l	4.5.1l	NUM
framr-1725	295	10	where	where	SCONJ
framr-1725	295	11	the	the	DET
framr-1725	295	12	garch	garch	NOUN
framr-1725	295	13	model	model	NOUN
framr-1725	295	14	seems	seem	VERB
framr-1725	295	15	to	to	PART
framr-1725	295	16	be	be	AUX
framr-1725	295	17	second	second	ADV
framr-1725	295	18	best	good	ADJ
framr-1725	295	19	in	in	ADP
framr-1725	295	20	terms	term	NOUN
framr-1725	295	21	of	of	ADP
framr-1725	295	22	volatility	volatility	NOUN
framr-1725	295	23	forecasting	forecasting	NOUN
framr-1725	295	24	since	since	SCONJ
framr-1725	295	25	they	they	PRON
framr-1725	295	26	follow	follow	VERB
framr-1725	295	27	the	the	DET
framr-1725	295	28	actual	actual	ADJ
framr-1725	295	29	in	in	ADP
framr-1725	295	30	sample	sample	NOUN
framr-1725	295	31	standard	standard	ADJ
framr-1725	295	32	deviation	deviation	NOUN
framr-1725	295	33	quite	quite	ADV
framr-1725	295	34	closely	closely	ADV
framr-1725	295	35	.	.	PUNCT
framr-1725	296	1	the	the	DET
framr-1725	296	2	nikkei	nikkei	PROPN
framr-1725	296	3	225	225	NUM
framr-1725	296	4	index	index	NOUN
framr-1725	296	5	shows	show	VERB
framr-1725	296	6	higher	high	ADJ
framr-1725	296	7	peaks	peak	NOUN
framr-1725	296	8	than	than	ADP
framr-1725	296	9	those	those	PRON
framr-1725	296	10	of	of	ADP
framr-1725	296	11	the	the	DET
framr-1725	296	12	dow	dow	PROPN
framr-1725	296	13	jones	jones	PROPN
framr-1725	296	14	industrial	industrial	PROPN
framr-1725	296	15	and	and	CCONJ
framr-1725	296	16	the	the	DET
framr-1725	296	17	ftse	ftse	NOUN
framr-1725	296	18	100	100	NUM
framr-1725	296	19	indices	index	NOUN
framr-1725	296	20	.	.	PUNCT
framr-1725	297	1	the	the	DET
framr-1725	297	2	arch	arch	ADJ
framr-1725	297	3	model	model	NOUN
framr-1725	297	4	again	again	ADV
framr-1725	297	5	seems	seem	VERB
framr-1725	297	6	to	to	PART
framr-1725	297	7	follow	follow	VERB
framr-1725	297	8	the	the	DET
framr-1725	297	9	actual	actual	ADJ
framr-1725	297	10	in	in	ADP
framr-1725	297	11	sample	sample	NOUN
framr-1725	297	12	standard	standard	ADJ
framr-1725	297	13	deviation	deviation	NOUN
framr-1725	297	14	quite	quite	ADV
framr-1725	297	15	closely	closely	ADV
framr-1725	297	16	than	than	ADP
framr-1725	297	17	the	the	DET
framr-1725	297	18	other	other	ADJ
framr-1725	297	19	models	model	NOUN
framr-1725	297	20	in	in	ADP
framr-1725	297	21	fig	fig	NOUN
framr-1725	297	22	4.5.1	4.5.1	NUM
framr-1725	297	23	m	m	NOUN
framr-1725	297	24	to	to	PART
framr-1725	297	25	fig	fig	NOUN
framr-1725	297	26	4.5.1o	4.5.1o	NOUN
framr-1725	297	27	.	.	PUNCT
framr-1725	298	1	the	the	DET
framr-1725	298	2	second	second	ADJ
framr-1725	298	3	sub	sub	NOUN
framr-1725	298	4	sample	sample	NOUN
framr-1725	298	5	in	in	ADP
framr-1725	298	6	fig	fig	NOUN
framr-1725	298	7	4.5.1p	4.5.1p	NUM
framr-1725	298	8	to	to	PART
framr-1725	298	9	fig	fig	VERB
framr-1725	298	10	4.5.1r	4.5.1r	PROPN
framr-1725	298	11	has	have	VERB
framr-1725	298	12	peaks	peak	NOUN
framr-1725	298	13	that	that	PRON
framr-1725	298	14	are	be	AUX
framr-1725	298	15	lower	low	ADJ
framr-1725	298	16	than	than	ADP
framr-1725	298	17	those	those	PRON
framr-1725	298	18	of	of	ADP
framr-1725	298	19	the	the	DET
framr-1725	298	20	first	first	ADJ
framr-1725	298	21	sub	sub	NOUN
framr-1725	298	22	sample	sample	NOUN
framr-1725	298	23	explained	explain	VERB
framr-1725	298	24	above	above	ADV
framr-1725	298	25	.	.	PUNCT
framr-1725	299	1	the	the	DET
framr-1725	299	2	egarch	egarch	NOUN
framr-1725	299	3	model	model	NOUN
framr-1725	299	4	follows	follow	VERB
framr-1725	299	5	the	the	DET
framr-1725	299	6	actual	actual	ADJ
framr-1725	299	7	in	in	ADP
framr-1725	299	8	sample	sample	NOUN
framr-1725	299	9	standard	standard	ADJ
framr-1725	299	10	deviation	deviation	NOUN
framr-1725	299	11	quite	quite	ADV
framr-1725	299	12	closely	closely	ADV
framr-1725	299	13	than	than	ADP
framr-1725	299	14	the	the	DET
framr-1725	299	15	arch	arch	ADJ
framr-1725	299	16	and	and	CCONJ
framr-1725	299	17	garch	garch	NOUN
framr-1725	299	18	models	model	NOUN
framr-1725	299	19	,	,	PUNCT
framr-1725	299	20	followed	follow	VERB
framr-1725	299	21	by	by	ADP
framr-1725	299	22	the	the	DET
framr-1725	299	23	arch	arch	NOUN
framr-1725	299	24	and	and	CCONJ
framr-1725	299	25	then	then	ADV
framr-1725	299	26	the	the	DET
framr-1725	299	27	garch	garch	NOUN
framr-1725	299	28	model	model	NOUN
framr-1725	299	29	.	.	PUNCT
framr-1725	300	1	the	the	DET
framr-1725	300	2	arch	arch	ADJ
framr-1725	300	3	type	type	NOUN
framr-1725	300	4	models	model	NOUN
framr-1725	300	5	seems	seem	VERB
framr-1725	300	6	to	to	PART
framr-1725	300	7	forecast	forecast	VERB
framr-1725	300	8	volatility	volatility	NOUN
framr-1725	300	9	better	well	ADV
framr-1725	300	10	than	than	ADP
framr-1725	300	11	the	the	DET
framr-1725	300	12	garch	garch	NOUN
framr-1725	300	13	and	and	CCONJ
framr-1725	300	14	egarch	egarch	NOUN
framr-1725	300	15	models	model	NOUN
framr-1725	300	16	in	in	ADP
framr-1725	300	17	most	most	ADJ
framr-1725	300	18	cases	case	NOUN
framr-1725	300	19	,	,	PUNCT
framr-1725	300	20	but	but	CCONJ
framr-1725	300	21	one	one	PRON
framr-1725	300	22	can	can	AUX
framr-1725	300	23	not	not	PART
framr-1725	300	24	rush	rush	VERB
framr-1725	300	25	into	into	ADP
framr-1725	300	26	such	such	ADJ
framr-1725	300	27	conclusion	conclusion	NOUN
framr-1725	300	28	as	as	ADP
framr-1725	300	29	what	what	PRON
framr-1725	300	30	will	will	AUX
framr-1725	300	31	determine	determine	VERB
framr-1725	300	32	which	which	DET
framr-1725	300	33	model	model	NOUN
framr-1725	300	34	forecast	forecast	NOUN
framr-1725	300	35	volatility	volatility	NOUN
framr-1725	300	36	better	well	ADV
framr-1725	300	37	will	will	AUX
framr-1725	300	38	be	be	AUX
framr-1725	300	39	based	base	VERB
framr-1725	300	40	on	on	ADP
framr-1725	300	41	the	the	DET
framr-1725	300	42	standard	standard	ADJ
framr-1725	300	43	symmetric	symmetric	ADJ
framr-1725	300	44	loss	loss	NOUN
framr-1725	300	45	function	function	NOUN
framr-1725	300	46	.	.	PUNCT
framr-1725	301	1	4.4.2	4.4.2	X
framr-1725	301	2	.	.	PUNCT
framr-1725	302	1	out	out	ADP
framr-1725	302	2	of	of	ADP
framr-1725	302	3	sample	sample	NOUN
framr-1725	302	4	forecast	forecast	NOUN
framr-1725	302	5	from	from	ADP
framr-1725	302	6	fig	fig	NOUN
framr-1725	302	7	4.5.1a	4.5.1a	NUM
framr-1725	302	8	to	to	PART
framr-1725	302	9	fig	fig	VERB
framr-1725	302	10	4.5.1r	4.5.1r	PROPN
framr-1725	302	11	in	in	ADP
framr-1725	302	12	appendix	appendix	NOUN
framr-1725	302	13	,	,	PUNCT
framr-1725	302	14	the	the	DET
framr-1725	302	15	week	week	NOUN
framr-1725	302	16	262	262	NUM
framr-1725	302	17	to	to	ADP
framr-1725	302	18	week	week	NOUN
framr-1725	302	19	523	523	NUM
framr-1725	302	20	represents	represent	VERB
framr-1725	302	21	the	the	DET
framr-1725	302	22	out	out	NOUN
framr-1725	302	23	of	of	ADP
framr-1725	302	24	sample	sample	NOUN
framr-1725	302	25	forecasting	forecasting	NOUN
framr-1725	302	26	period	period	NOUN
framr-1725	302	27	of	of	ADP
framr-1725	302	28	the	the	DET
framr-1725	302	29	various	various	ADJ
framr-1725	302	30	return	return	NOUN
framr-1725	302	31	series	series	NOUN
framr-1725	302	32	.	.	PUNCT
framr-1725	303	1	this	this	PRON
framr-1725	303	2	shows	show	VERB
framr-1725	303	3	that	that	SCONJ
framr-1725	303	4	the	the	DET
framr-1725	303	5	out	out	ADP
framr-1725	303	6	of	of	ADP
framr-1725	303	7	sample	sample	NOUN
framr-1725	303	8	forecast	forecast	NOUN
framr-1725	303	9	of	of	ADP
framr-1725	303	10	the	the	DET
framr-1725	303	11	three	three	NUM
framr-1725	303	12	indices	index	NOUN
framr-1725	303	13	clearly	clearly	ADV
framr-1725	303	14	converge	converge	VERB
framr-1725	303	15	to	to	ADP
framr-1725	303	16	the	the	DET
framr-1725	303	17	long	long	ADJ
framr-1725	303	18	term	term	NOUN
framr-1725	303	19	unconditional	unconditional	ADJ
framr-1725	303	20	values	value	NOUN
framr-1725	303	21	.	.	PUNCT
framr-1725	304	1	this	this	PRON
framr-1725	304	2	is	be	AUX
framr-1725	304	3	common	common	ADJ
framr-1725	304	4	with	with	ADP
framr-1725	304	5	all	all	DET
framr-1725	304	6	the	the	DET
framr-1725	304	7	forecasts	forecast	NOUN
framr-1725	304	8	of	of	ADP
framr-1725	304	9	the	the	DET
framr-1725	304	10	indices	index	NOUN
framr-1725	304	11	under	under	ADP
framr-1725	304	12	study	study	NOUN
framr-1725	304	13	.	.	PUNCT
framr-1725	305	1	the	the	DET
framr-1725	305	2	in	in	ADP
framr-1725	305	3	sample	sample	NOUN
framr-1725	305	4	forecast	forecast	NOUN
framr-1725	305	5	and	and	CCONJ
framr-1725	305	6	out	out	ADP
framr-1725	305	7	of	of	ADP
framr-1725	305	8	sample	sample	NOUN
framr-1725	305	9	forecast	forecast	NOUN
framr-1725	305	10	were	be	AUX
framr-1725	305	11	analysed	analyse	VERB
framr-1725	305	12	using	use	VERB
framr-1725	305	13	the	the	DET
framr-1725	305	14	standard	standard	ADJ
framr-1725	305	15	symmetric	symmetric	ADJ
framr-1725	305	16	loss	loss	NOUN
framr-1725	305	17	function	function	NOUN
framr-1725	305	18	to	to	PART
framr-1725	305	19	evaluate	evaluate	VERB
framr-1725	305	20	the	the	DET
framr-1725	305	21	performance	performance	NOUN
framr-1725	305	22	of	of	ADP
framr-1725	305	23	the	the	DET
framr-1725	305	24	competing	compete	VERB
framr-1725	305	25	models	model	NOUN
framr-1725	305	26	.	.	PUNCT
framr-1725	306	1	the	the	DET
framr-1725	306	2	forecast	forecast	NOUN
framr-1725	306	3	was	be	AUX
framr-1725	306	4	done	do	VERB
framr-1725	306	5	using	use	VERB
framr-1725	306	6	the	the	DET
framr-1725	306	7	dynamic	dynamic	ADJ
framr-1725	306	8	forecasting	forecasting	NOUN
framr-1725	306	9	,	,	PUNCT
framr-1725	306	10	forecasting	forecast	VERB
framr-1725	306	11	multi	multi	ADJ
framr-1725	306	12	periods	period	NOUN
framr-1725	306	13	ahead	ahead	ADV
framr-1725	306	14	.	.	PUNCT
framr-1725	307	1	the	the	DET
framr-1725	307	2	in	in	ADP
framr-1725	307	3	sample	sample	NOUN
framr-1725	307	4	forecast	forecast	NOUN
framr-1725	307	5	period	period	NOUN
framr-1725	307	6	is	be	AUX
framr-1725	307	7	made	make	VERB
framr-1725	307	8	up	up	ADP
framr-1725	307	9	of	of	ADP
framr-1725	307	10	the	the	DET
framr-1725	307	11	first	first	ADJ
framr-1725	307	12	261	261	NUM
framr-1725	307	13	weeks	week	NOUN
framr-1725	307	14	with	with	ADP
framr-1725	307	15	1249	1249	NUM
framr-1725	307	16	observations	observation	NOUN
framr-1725	307	17	and	and	CCONJ
framr-1725	307	18	an	an	DET
framr-1725	307	19	out	out	NOUN
framr-1725	307	20	of	of	ADP
framr-1725	307	21	sample	sample	NOUN
framr-1725	307	22	forecast	forecast	NOUN
framr-1725	307	23	period	period	NOUN
framr-1725	307	24	of	of	ADP
framr-1725	307	25	the	the	DET
framr-1725	307	26	second	second	ADJ
framr-1725	307	27	261	261	NUM
framr-1725	307	28	weeks	week	NOUN
framr-1725	307	29	with	with	ADP
framr-1725	307	30	1264	1264	NUM
framr-1725	307	31	observations	observation	NOUN
framr-1725	307	32	.	.	PUNCT
framr-1725	308	1	returns	return	NOUN
framr-1725	308	2	of	of	ADP
framr-1725	308	3	the	the	DET
framr-1725	308	4	various	various	ADJ
framr-1725	308	5	indices	index	NOUN
framr-1725	308	6	were	be	AUX
framr-1725	308	7	calculated	calculate	VERB
framr-1725	308	8	weekly	weekly	ADV
framr-1725	308	9	and	and	CCONJ
framr-1725	308	10	are	be	AUX
framr-1725	308	11	used	use	VERB
framr-1725	308	12	in	in	ADP
framr-1725	308	13	the	the	DET
framr-1725	308	14	analysis	analysis	NOUN
framr-1725	308	15	of	of	ADP
framr-1725	308	16	this	this	DET
framr-1725	308	17	work	work	NOUN
framr-1725	308	18	.	.	PUNCT
framr-1725	309	1	this	this	PRON
framr-1725	309	2	is	be	AUX
framr-1725	309	3	consistent	consistent	ADJ
framr-1725	309	4	with	with	ADP
framr-1725	309	5	those	those	PRON
framr-1725	309	6	of	of	ADP
framr-1725	309	7	balaban	balaban	PROPN
framr-1725	309	8	and	and	CCONJ
framr-1725	309	9	bayar	bayar	PROPN
framr-1725	309	10	(	(	PUNCT
framr-1725	309	11	2005	2005	NUM
framr-1725	309	12	)	)	PUNCT
framr-1725	309	13	.	.	PUNCT
framr-1725	310	1	the	the	DET
framr-1725	310	2	four	four	NUM
framr-1725	310	3	standard	standard	ADJ
framr-1725	310	4	symmetric	symmetric	ADJ
framr-1725	310	5	loss	loss	NOUN
framr-1725	310	6	functions	function	NOUN
framr-1725	310	7	here	here	ADV
framr-1725	310	8	include	include	VERB
framr-1725	310	9	;	;	PUNCT
framr-1725	310	10	the	the	DET
framr-1725	310	11	mean	mean	NOUN
framr-1725	310	12	error	error	NOUN
framr-1725	310	13	,	,	PUNCT
framr-1725	310	14	root	root	NOUN
framr-1725	310	15	mean	mean	VERB
framr-1725	310	16	square	square	NOUN
framr-1725	310	17	error	error	NOUN
framr-1725	310	18	,	,	PUNCT
framr-1725	310	19	mean	mean	ADJ
framr-1725	310	20	absolute	absolute	ADJ
framr-1725	310	21	error	error	NOUN
framr-1725	310	22	and	and	CCONJ
framr-1725	310	23	the	the	DET
framr-1725	310	24	mean	mean	ADJ
framr-1725	310	25	absolute	absolute	ADJ
framr-1725	310	26	percentage	percentage	NOUN
framr-1725	310	27	error	error	NOUN
framr-1725	310	28	.	.	PUNCT
framr-1725	311	1	the	the	DET
framr-1725	311	2	model	model	NOUN
framr-1725	311	3	with	with	ADP
framr-1725	311	4	the	the	DET
framr-1725	311	5	most	most	ADV
framr-1725	311	6	minimum	minimum	ADJ
framr-1725	311	7	forecasting	forecasting	NOUN
framr-1725	311	8	error	error	NOUN
framr-1725	311	9	is	be	AUX
framr-1725	311	10	regarded	regard	VERB
framr-1725	311	11	as	as	ADP
framr-1725	311	12	a	a	DET
framr-1725	311	13	model	model	NOUN
framr-1725	311	14	that	that	PRON
framr-1725	311	15	best	good	ADJ
framr-1725	311	16	forecast	forecast	NOUN
framr-1725	311	17	volatility	volatility	NOUN
framr-1725	311	18	better	well	ADV
framr-1725	311	19	.	.	PUNCT
framr-1725	312	1	table	table	NOUN
framr-1725	312	2	4.6.1a	4.6.1a	NOUN
framr-1725	312	3	to	to	ADP
framr-1725	312	4	4.6.1c	4.6.1c	PROPN
framr-1725	312	5	in	in	ADP
framr-1725	312	6	appendix	appendix	NOUN
framr-1725	312	7	represents	represent	VERB
framr-1725	312	8	the	the	DET
framr-1725	312	9	in	in	ADP
framr-1725	312	10	sample	sample	NOUN
framr-1725	312	11	volatility	volatility	NOUN
framr-1725	312	12	forecast	forecast	NOUN
framr-1725	312	13	for	for	ADP
framr-1725	312	14	the	the	DET
framr-1725	312	15	entire	entire	ADJ
framr-1725	312	16	sample	sample	NOUN
framr-1725	312	17	(	(	PUNCT
framr-1725	312	18	first	first	ADJ
framr-1725	312	19	and	and	CCONJ
framr-1725	312	20	second	second	ADJ
framr-1725	312	21	sub	sub	NOUN
framr-1725	312	22	samples	sample	NOUN
framr-1725	312	23	)	)	PUNCT
framr-1725	312	24	,	,	PUNCT
framr-1725	312	25	with	with	ADP
framr-1725	312	26	the	the	DET
framr-1725	312	27	tables	table	NOUN
framr-1725	312	28	representing	represent	VERB
framr-1725	312	29	the	the	DET
framr-1725	312	30	actual	actual	ADJ
framr-1725	312	31	error	error	NOUN
framr-1725	312	32	statistics	statistic	NOUN
framr-1725	312	33	for	for	ADP
framr-1725	312	34	the	the	DET
framr-1725	312	35	non	non	ADJ
framr-1725	312	36	linear	linear	PROPN
framr-1725	312	37	models	model	NOUN
framr-1725	312	38	.	.	PUNCT
framr-1725	313	1	using	use	VERB
framr-1725	313	2	the	the	DET
framr-1725	313	3	four	four	NUM
framr-1725	313	4	evaluation	evaluation	NOUN
framr-1725	313	5	criteria	criterion	NOUN
framr-1725	313	6	,	,	PUNCT
framr-1725	313	7	the	the	DET
framr-1725	313	8	egarch	egarch	NOUN
framr-1725	313	9	model	model	NOUN
framr-1725	313	10	clearly	clearly	ADV
framr-1725	313	11	dominates	dominate	VERB
framr-1725	313	12	the	the	DET
framr-1725	313	13	arch	arch	ADJ
framr-1725	313	14	and	and	CCONJ
framr-1725	313	15	garch	garch	NOUN
framr-1725	313	16	models	model	NOUN
framr-1725	313	17	by	by	ADP
framr-1725	313	18	registering	register	VERB
framr-1725	313	19	the	the	DET
framr-1725	313	20	lowest	low	ADJ
framr-1725	313	21	statistical	statistical	ADJ
framr-1725	313	22	error	error	NOUN
framr-1725	313	23	for	for	ADP
framr-1725	313	24	the	the	DET
framr-1725	313	25	three	three	NUM
framr-1725	313	26	indices	index	NOUN
framr-1725	313	27	.	.	PUNCT
framr-1725	314	1	the	the	DET
framr-1725	314	2	garch	garch	NOUN
framr-1725	314	3	model	model	NOUN
framr-1725	314	4	seems	seem	VERB
framr-1725	314	5	to	to	PART
framr-1725	314	6	have	have	VERB
framr-1725	314	7	the	the	DET
framr-1725	314	8	lowest	low	ADJ
framr-1725	314	9	minimum	minimum	ADJ
framr-1725	314	10	values	value	NOUN
framr-1725	314	11	of	of	ADP
framr-1725	314	12	the	the	DET
framr-1725	314	13	errors	error	NOUN
framr-1725	314	14	but	but	CCONJ
framr-1725	314	15	it	it	PRON
framr-1725	314	16	is	be	AUX
framr-1725	314	17	not	not	PART
framr-1725	314	18	enough	enough	ADJ
framr-1725	314	19	to	to	PART
framr-1725	314	20	outperform	outperform	VERB
framr-1725	314	21	those	those	PRON
framr-1725	314	22	of	of	ADP
framr-1725	314	23	the	the	DET
framr-1725	314	24	egarch	egarch	NOUN
framr-1725	314	25	model	model	NOUN
framr-1725	314	26	as	as	SCONJ
framr-1725	314	27	they	they	PRON
framr-1725	314	28	seem	seem	VERB
framr-1725	314	29	to	to	PART
framr-1725	314	30	do	do	VERB
framr-1725	314	31	so	so	ADV
framr-1725	314	32	only	only	ADV
framr-1725	314	33	with	with	ADP
framr-1725	314	34	the	the	DET
framr-1725	314	35	dow	dow	PROPN
framr-1725	314	36	jones	jones	PROPN
framr-1725	314	37	industrial	industrial	PROPN
framr-1725	314	38	index	index	NOUN
framr-1725	314	39	and	and	CCONJ
framr-1725	314	40	the	the	DET
framr-1725	314	41	ftse	ftse	NOUN
framr-1725	314	42	100	100	NUM
framr-1725	314	43	in	in	ADP
framr-1725	314	44	the	the	DET
framr-1725	314	45	first	first	ADJ
framr-1725	314	46	sub	sub	NOUN
framr-1725	314	47	samples	sample	NOUN
framr-1725	314	48	.	.	PUNCT
framr-1725	315	1	egarch	egarch	NOUN
framr-1725	315	2	model	model	NOUN
framr-1725	315	3	has	have	VERB
framr-1725	315	4	the	the	DET
framr-1725	315	5	lowest	low	ADJ
framr-1725	315	6	values	value	NOUN
framr-1725	315	7	and	and	CCONJ
framr-1725	315	8	thus	thus	ADV
framr-1725	315	9	is	be	AUX
framr-1725	315	10	regarded	regard	VERB
framr-1725	315	11	as	as	ADP
framr-1725	315	12	the	the	DET
framr-1725	315	13	model	model	NOUN
framr-1725	315	14	the	the	DET
framr-1725	315	15	best	good	ADJ
framr-1725	315	16	forecast	forecast	NOUN
framr-1725	315	17	volatility	volatility	NOUN
framr-1725	315	18	when	when	SCONJ
framr-1725	315	19	we	we	PRON
framr-1725	315	20	consider	consider	VERB
framr-1725	315	21	the	the	DET
framr-1725	315	22	in	in	ADP
framr-1725	315	23	sample	sample	NOUN
framr-1725	315	24	forecast	forecast	NOUN
framr-1725	315	25	.	.	PUNCT
framr-1725	316	1	this	this	DET
framr-1725	316	2	result	result	NOUN
framr-1725	316	3	is	be	AUX
framr-1725	316	4	financial	financial	ADJ
framr-1725	316	5	risk	risk	NOUN
framr-1725	316	6	and	and	CCONJ
framr-1725	316	7	management	management	NOUN
framr-1725	316	8	reviews	review	NOUN
framr-1725	316	9	,	,	PUNCT
framr-1725	316	10	2018	2018	NUM
framr-1725	316	11	,	,	PUNCT
framr-1725	316	12	4(1	4(1	NOUN
framr-1725	316	13	):	):	PUNCT
framr-1725	316	14	1	1	NUM
framr-1725	316	15	-	-	SYM
framr-1725	316	16	23	23	NUM
framr-1725	316	17	13	13	NUM
framr-1725	316	18	©	©	PROPN
framr-1725	316	19	2018	2018	NUM
framr-1725	316	20	conscientia	conscientia	PROPN
framr-1725	316	21	beam	beam	PROPN
framr-1725	316	22	.	.	PUNCT
framr-1725	317	1	all	all	DET
framr-1725	317	2	rights	right	NOUN
framr-1725	317	3	reserved	reserve	VERB
framr-1725	317	4	.	.	PUNCT
framr-1725	318	1	consistent	consistent	ADJ
framr-1725	318	2	with	with	ADP
framr-1725	318	3	those	those	PRON
framr-1725	318	4	of	of	ADP
framr-1725	318	5	najand	najand	NOUN
framr-1725	318	6	(	(	PUNCT
framr-1725	318	7	2002	2002	NUM
framr-1725	318	8	)	)	PUNCT
framr-1725	318	9	;	;	PUNCT
framr-1725	318	10	pagan	pagan	VERB
framr-1725	318	11	and	and	CCONJ
framr-1725	318	12	schwert	schwert	NOUN
framr-1725	318	13	(	(	PUNCT
framr-1725	318	14	1990	1990	NUM
framr-1725	318	15	)	)	PUNCT
framr-1725	318	16	and	and	CCONJ
framr-1725	318	17	figlewski	figlewski	NOUN
framr-1725	318	18	et	et	PROPN
framr-1725	318	19	al	al	PROPN
framr-1725	318	20	.	.	PROPN
framr-1725	319	1	(	(	PUNCT
framr-1725	319	2	1993	1993	NUM
framr-1725	319	3	)	)	PUNCT
framr-1725	319	4	who	who	PRON
framr-1725	319	5	all	all	PRON
framr-1725	319	6	conclude	conclude	VERB
framr-1725	319	7	that	that	SCONJ
framr-1725	319	8	the	the	DET
framr-1725	319	9	egarch	egarch	NOUN
framr-1725	319	10	model	model	NOUN
framr-1725	319	11	seems	seem	VERB
framr-1725	319	12	to	to	PART
framr-1725	319	13	outperform	outperform	VERB
framr-1725	319	14	other	other	ADJ
framr-1725	319	15	models	model	NOUN
framr-1725	319	16	in	in	ADP
framr-1725	319	17	their	their	PRON
framr-1725	319	18	studies	study	NOUN
framr-1725	319	19	.	.	PUNCT
framr-1725	320	1	for	for	ADP
framr-1725	320	2	the	the	DET
framr-1725	320	3	out	out	ADP
framr-1725	320	4	of	of	ADP
framr-1725	320	5	sample	sample	NOUN
framr-1725	320	6	forecast	forecast	NOUN
framr-1725	320	7	(	(	PUNCT
framr-1725	320	8	table	table	NOUN
framr-1725	320	9	4.6.1d	4.6.1d	PROPN
framr-1725	320	10	to	to	ADP
framr-1725	320	11	4.6.1f	4.6.1f	PROPN
framr-1725	320	12	in	in	ADP
framr-1725	320	13	appendix	appendix	NOUN
framr-1725	320	14	)	)	PUNCT
framr-1725	320	15	,	,	PUNCT
framr-1725	320	16	the	the	DET
framr-1725	320	17	egarch	egarch	NOUN
framr-1725	320	18	model	model	NOUN
framr-1725	320	19	again	again	ADV
framr-1725	320	20	outperformed	outperform	VERB
framr-1725	320	21	the	the	DET
framr-1725	320	22	arch	arch	NOUN
framr-1725	320	23	and	and	CCONJ
framr-1725	320	24	the	the	DET
framr-1725	320	25	garch	garch	NOUN
framr-1725	320	26	model	model	NOUN
framr-1725	320	27	.	.	PUNCT
framr-1725	321	1	its	its	PRON
framr-1725	321	2	dominancy	dominancy	NOUN
framr-1725	321	3	can	can	AUX
framr-1725	321	4	be	be	AUX
framr-1725	321	5	seen	see	VERB
framr-1725	321	6	mostly	mostly	ADV
framr-1725	321	7	in	in	ADP
framr-1725	321	8	the	the	DET
framr-1725	321	9	nikkei	nikkei	PROPN
framr-1725	321	10	225	225	NUM
framr-1725	321	11	index	index	NOUN
framr-1725	321	12	where	where	SCONJ
framr-1725	321	13	it	it	PRON
framr-1725	321	14	outperformed	outperform	VERB
framr-1725	321	15	the	the	DET
framr-1725	321	16	arch	arch	ADJ
framr-1725	321	17	and	and	CCONJ
framr-1725	321	18	garch	garch	NOUN
framr-1725	321	19	models	model	NOUN
framr-1725	321	20	all	all	ADV
framr-1725	321	21	over	over	ADP
framr-1725	321	22	the	the	DET
framr-1725	321	23	entire	entire	ADJ
framr-1725	321	24	sample	sample	NOUN
framr-1725	321	25	(	(	PUNCT
framr-1725	321	26	in	in	ADP
framr-1725	321	27	sample	sample	NOUN
framr-1725	321	28	and	and	CCONJ
framr-1725	321	29	out	out	ADP
framr-1725	321	30	of	of	ADP
framr-1725	321	31	sample	sample	NOUN
framr-1725	321	32	)	)	PUNCT
framr-1725	321	33	,	,	PUNCT
framr-1725	321	34	registering	register	VERB
framr-1725	321	35	the	the	DET
framr-1725	321	36	lowest	low	ADJ
framr-1725	321	37	statistical	statistical	ADJ
framr-1725	321	38	error	error	NOUN
framr-1725	321	39	among	among	ADP
framr-1725	321	40	other	other	ADJ
framr-1725	321	41	models	model	NOUN
framr-1725	321	42	in	in	ADP
framr-1725	321	43	the	the	DET
framr-1725	321	44	work	work	NOUN
framr-1725	321	45	.	.	PUNCT
framr-1725	322	1	egarch	egarch	NOUN
framr-1725	322	2	model	model	PROPN
framr-1725	322	3	outperformed	outperform	VERB
framr-1725	322	4	the	the	DET
framr-1725	322	5	arch	arch	ADJ
framr-1725	322	6	and	and	CCONJ
framr-1725	322	7	garch	garch	NOUN
framr-1725	322	8	models	model	NOUN
framr-1725	322	9	in	in	ADP
framr-1725	322	10	the	the	DET
framr-1725	322	11	second	second	ADJ
framr-1725	322	12	sub	sub	NOUN
framr-1725	322	13	sample	sample	NOUN
framr-1725	322	14	of	of	ADP
framr-1725	322	15	the	the	DET
framr-1725	322	16	ftse	ftse	PROPN
framr-1725	322	17	100	100	NUM
framr-1725	322	18	index	index	NOUN
framr-1725	322	19	.	.	PUNCT
framr-1725	323	1	egarch	egarch	PROPN
framr-1725	323	2	model	model	NOUN
framr-1725	323	3	seems	seem	VERB
framr-1725	323	4	to	to	PART
framr-1725	323	5	perform	perform	VERB
framr-1725	323	6	very	very	ADV
framr-1725	323	7	well	well	ADV
framr-1725	323	8	in	in	ADP
framr-1725	323	9	periods	period	NOUN
framr-1725	323	10	of	of	ADP
framr-1725	323	11	high	high	ADJ
framr-1725	323	12	volatility	volatility	NOUN
framr-1725	323	13	and	and	CCONJ
framr-1725	323	14	it	it	PRON
framr-1725	323	15	is	be	AUX
framr-1725	323	16	common	common	ADJ
framr-1725	323	17	mostly	mostly	ADV
framr-1725	323	18	in	in	ADP
framr-1725	323	19	the	the	DET
framr-1725	323	20	second	second	ADJ
framr-1725	323	21	sub	sub	NOUN
framr-1725	323	22	samples	sample	NOUN
framr-1725	323	23	of	of	ADP
framr-1725	323	24	the	the	DET
framr-1725	323	25	various	various	ADJ
framr-1725	323	26	indices	index	NOUN
framr-1725	323	27	.	.	PUNCT
framr-1725	324	1	during	during	ADP
framr-1725	324	2	the	the	DET
framr-1725	324	3	second	second	ADJ
framr-1725	324	4	sub	sub	NOUN
framr-1725	324	5	sample	sample	NOUN
framr-1725	324	6	of	of	ADP
framr-1725	324	7	the	the	DET
framr-1725	324	8	various	various	ADJ
framr-1725	324	9	indices	index	NOUN
framr-1725	324	10	,	,	PUNCT
framr-1725	324	11	there	there	PRON
framr-1725	324	12	are	be	VERB
framr-1725	324	13	two	two	NUM
framr-1725	324	14	major	major	ADJ
framr-1725	324	15	events	event	NOUN
framr-1725	324	16	that	that	PRON
framr-1725	324	17	led	lead	VERB
framr-1725	324	18	to	to	ADP
framr-1725	324	19	high	high	ADJ
framr-1725	324	20	and	and	CCONJ
framr-1725	324	21	low	low	ADJ
framr-1725	324	22	periods	period	NOUN
framr-1725	324	23	of	of	ADP
framr-1725	324	24	volatility	volatility	NOUN
framr-1725	324	25	and	and	CCONJ
framr-1725	324	26	these	these	PRON
framr-1725	324	27	are	be	AUX
framr-1725	324	28	the	the	DET
framr-1725	324	29	september	september	PROPN
framr-1725	324	30	11	11	NUM
framr-1725	324	31	terrorist	terrorist	ADJ
framr-1725	324	32	attack	attack	NOUN
framr-1725	324	33	in	in	ADP
framr-1725	324	34	2001	2001	NUM
framr-1725	324	35	and	and	CCONJ
framr-1725	324	36	the	the	DET
framr-1725	324	37	ongoing	ongoing	ADJ
framr-1725	324	38	financial	financial	ADJ
framr-1725	324	39	crisis	crisis	NOUN
framr-1725	324	40	that	that	PRON
framr-1725	324	41	started	start	VERB
framr-1725	324	42	late	late	ADJ
framr-1725	324	43	2007	2007	NUM
framr-1725	324	44	.	.	PUNCT
framr-1725	325	1	the	the	DET
framr-1725	325	2	result	result	NOUN
framr-1725	325	3	here	here	ADV
framr-1725	325	4	are	be	AUX
framr-1725	325	5	again	again	ADV
framr-1725	325	6	similar	similar	ADJ
framr-1725	325	7	to	to	ADP
framr-1725	325	8	those	those	PRON
framr-1725	325	9	of	of	ADP
framr-1725	325	10	figlewski	figlewski	NOUN
framr-1725	325	11	et	et	PROPN
framr-1725	325	12	al	al	PROPN
framr-1725	325	13	.	.	PROPN
framr-1725	325	14	(	(	PUNCT
framr-1725	325	15	1993	1993	NUM
framr-1725	325	16	)	)	PUNCT
framr-1725	325	17	;	;	PUNCT
framr-1725	325	18	pagan	pagan	VERB
framr-1725	325	19	and	and	CCONJ
framr-1725	325	20	schwert	schwert	NOUN
framr-1725	325	21	(	(	PUNCT
framr-1725	325	22	1990	1990	NUM
framr-1725	325	23	)	)	PUNCT
framr-1725	325	24	and	and	CCONJ
framr-1725	325	25	najand	najand	NOUN
framr-1725	325	26	(	(	PUNCT
framr-1725	325	27	2002	2002	NUM
framr-1725	325	28	)	)	PUNCT
framr-1725	325	29	who	who	PRON
framr-1725	325	30	all	all	PRON
framr-1725	325	31	found	find	VERB
framr-1725	325	32	the	the	DET
framr-1725	325	33	egarch	egarch	NOUN
framr-1725	325	34	to	to	PART
framr-1725	325	35	best	good	ADJ
framr-1725	325	36	forecast	forecast	VERB
framr-1725	325	37	volatility	volatility	NOUN
framr-1725	325	38	than	than	ADP
framr-1725	325	39	the	the	DET
framr-1725	325	40	arch	arch	ADJ
framr-1725	325	41	and	and	CCONJ
framr-1725	325	42	garch	garch	NOUN
framr-1725	325	43	models	model	NOUN
framr-1725	325	44	.	.	PUNCT
framr-1725	326	1	5	5	X
framr-1725	326	2	.	.	X
framr-1725	326	3	summary	summary	NOUN
framr-1725	326	4	and	and	CCONJ
framr-1725	326	5	conclusion	conclusion	VERB
framr-1725	326	6	the	the	DET
framr-1725	326	7	purpose	purpose	NOUN
framr-1725	326	8	of	of	ADP
framr-1725	326	9	this	this	DET
framr-1725	326	10	paper	paper	NOUN
framr-1725	326	11	is	be	AUX
framr-1725	326	12	to	to	PART
framr-1725	326	13	evaluate	evaluate	VERB
framr-1725	326	14	and	and	CCONJ
framr-1725	326	15	investigate	investigate	VERB
framr-1725	326	16	the	the	DET
framr-1725	326	17	forecasting	forecasting	NOUN
framr-1725	326	18	ability	ability	NOUN
framr-1725	326	19	of	of	ADP
framr-1725	326	20	the	the	DET
framr-1725	326	21	non	non	ADJ
framr-1725	326	22	-	-	ADJ
framr-1725	326	23	linear	linear	ADJ
framr-1725	326	24	models	model	NOUN
framr-1725	326	25	which	which	PRON
framr-1725	326	26	include	include	VERB
framr-1725	326	27	;	;	PUNCT
framr-1725	326	28	the	the	DET
framr-1725	326	29	arch	arch	ADJ
framr-1725	326	30	,	,	PUNCT
framr-1725	326	31	garch	garch	NOUN
framr-1725	326	32	and	and	CCONJ
framr-1725	326	33	egarch	egarch	NOUN
framr-1725	326	34	models	model	NOUN
framr-1725	326	35	.	.	PUNCT
framr-1725	327	1	we	we	PRON
framr-1725	327	2	also	also	ADV
framr-1725	327	3	investigated	investigate	VERB
framr-1725	327	4	the	the	DET
framr-1725	327	5	autoregressive	autoregressive	ADJ
framr-1725	327	6	model	model	NOUN
framr-1725	327	7	but	but	CCONJ
framr-1725	327	8	this	this	DET
framr-1725	327	9	model	model	NOUN
framr-1725	327	10	was	be	AUX
framr-1725	327	11	not	not	PART
framr-1725	327	12	used	use	VERB
framr-1725	327	13	in	in	ADP
framr-1725	327	14	forecasting	forecast	VERB
framr-1725	327	15	volatility	volatility	NOUN
framr-1725	327	16	of	of	ADP
framr-1725	327	17	the	the	DET
framr-1725	327	18	return	return	NOUN
framr-1725	327	19	series	series	NOUN
framr-1725	327	20	under	under	ADP
framr-1725	327	21	investigation	investigation	NOUN
framr-1725	327	22	for	for	ADP
framr-1725	327	23	simplicity	simplicity	NOUN
framr-1725	327	24	reasons	reason	NOUN
framr-1725	327	25	.	.	PUNCT
framr-1725	328	1	from	from	ADP
framr-1725	328	2	our	our	PRON
framr-1725	328	3	analysis	analysis	NOUN
framr-1725	328	4	of	of	ADP
framr-1725	328	5	the	the	DET
framr-1725	328	6	various	various	ADJ
framr-1725	328	7	return	return	NOUN
framr-1725	328	8	indices	index	NOUN
framr-1725	328	9	,	,	PUNCT
framr-1725	328	10	we	we	PRON
framr-1725	328	11	discovered	discover	VERB
framr-1725	328	12	that	that	SCONJ
framr-1725	328	13	the	the	DET
framr-1725	328	14	return	return	NOUN
framr-1725	328	15	series	series	NOUN
framr-1725	328	16	does	do	AUX
framr-1725	328	17	not	not	PART
framr-1725	328	18	follow	follow	VERB
framr-1725	328	19	a	a	DET
framr-1725	328	20	normal	normal	ADJ
framr-1725	328	21	distribution	distribution	NOUN
framr-1725	328	22	,	,	PUNCT
framr-1725	328	23	thus	thus	ADV
framr-1725	328	24	exhibiting	exhibit	VERB
framr-1725	328	25	fat	fat	ADJ
framr-1725	328	26	tails	tail	NOUN
framr-1725	328	27	and	and	CCONJ
framr-1725	328	28	high	high	ADJ
framr-1725	328	29	peaks	peak	NOUN
framr-1725	328	30	which	which	PRON
framr-1725	328	31	are	be	AUX
framr-1725	328	32	higher	high	ADJ
framr-1725	328	33	than	than	ADP
framr-1725	328	34	those	those	PRON
framr-1725	328	35	of	of	ADP
framr-1725	328	36	a	a	DET
framr-1725	328	37	normal	normal	ADJ
framr-1725	328	38	distribution	distribution	NOUN
framr-1725	328	39	.	.	PUNCT
framr-1725	329	1	evaluation	evaluation	NOUN
framr-1725	329	2	of	of	ADP
framr-1725	329	3	volatility	volatility	NOUN
framr-1725	329	4	forecasting	forecasting	NOUN
framr-1725	329	5	have	have	AUX
framr-1725	329	6	been	be	AUX
framr-1725	329	7	investigated	investigate	VERB
framr-1725	329	8	both	both	CCONJ
framr-1725	329	9	in	in	ADP
framr-1725	329	10	out	out	ADP
framr-1725	329	11	of	of	ADP
framr-1725	329	12	sample	sample	NOUN
framr-1725	329	13	and	and	CCONJ
framr-1725	329	14	in	in	ADP
framr-1725	329	15	sample	sample	NOUN
framr-1725	329	16	forecast	forecast	NOUN
framr-1725	329	17	,	,	PUNCT
framr-1725	329	18	using	use	VERB
framr-1725	329	19	the	the	DET
framr-1725	329	20	mean	mean	ADJ
framr-1725	329	21	error	error	NOUN
framr-1725	329	22	(	(	PUNCT
framr-1725	329	23	me	i	PRON
framr-1725	329	24	)	)	PUNCT
framr-1725	329	25	,	,	PUNCT
framr-1725	329	26	root	root	NOUN
framr-1725	329	27	mean	mean	VERB
framr-1725	329	28	square	square	ADJ
framr-1725	329	29	error	error	NOUN
framr-1725	329	30	(	(	PUNCT
framr-1725	329	31	rmse	rmse	NOUN
framr-1725	329	32	)	)	PUNCT
framr-1725	329	33	,	,	PUNCT
framr-1725	329	34	mean	mean	VERB
framr-1725	329	35	absolute	absolute	ADJ
framr-1725	329	36	error	error	NOUN
framr-1725	329	37	(	(	PUNCT
framr-1725	329	38	mae	mae	PROPN
framr-1725	329	39	)	)	PUNCT
framr-1725	329	40	and	and	CCONJ
framr-1725	329	41	mean	mean	VERB
framr-1725	329	42	absolute	absolute	ADJ
framr-1725	329	43	percentage	percentage	NOUN
framr-1725	329	44	error	error	NOUN
framr-1725	329	45	(	(	PUNCT
framr-1725	329	46	mape	mape	NOUN
framr-1725	329	47	)	)	PUNCT
framr-1725	329	48	applied	apply	VERB
framr-1725	329	49	to	to	ADP
framr-1725	329	50	a	a	DET
framr-1725	329	51	multi	multi	ADJ
framr-1725	329	52	-	-	NOUN
framr-1725	329	53	step	step	NOUN
framr-1725	329	54	ahead	ahead	ADV
framr-1725	329	55	out	out	ADP
framr-1725	329	56	of	of	ADP
framr-1725	329	57	sample	sample	NOUN
framr-1725	329	58	weekly	weekly	ADJ
framr-1725	329	59	volatility	volatility	NOUN
framr-1725	329	60	forecast	forecast	NOUN
framr-1725	329	61	.	.	PUNCT
framr-1725	330	1	among	among	ADP
framr-1725	330	2	the	the	DET
framr-1725	330	3	three	three	NUM
framr-1725	330	4	non	non	ADJ
framr-1725	330	5	-	-	ADJ
framr-1725	330	6	linear	linear	ADJ
framr-1725	330	7	models	model	NOUN
framr-1725	330	8	under	under	ADP
framr-1725	330	9	investigation	investigation	NOUN
framr-1725	330	10	,	,	PUNCT
framr-1725	330	11	the	the	DET
framr-1725	330	12	arch	arch	ADJ
framr-1725	330	13	type	type	NOUN
framr-1725	330	14	model	model	NOUN
framr-1725	330	15	exhibits	exhibit	VERB
framr-1725	330	16	relatively	relatively	ADV
framr-1725	330	17	a	a	DET
framr-1725	330	18	poor	poor	ADJ
framr-1725	330	19	forecast	forecast	NOUN
framr-1725	330	20	performance	performance	NOUN
framr-1725	330	21	under	under	ADP
framr-1725	330	22	both	both	PRON
framr-1725	330	23	in	in	ADP
framr-1725	330	24	sample	sample	NOUN
framr-1725	330	25	and	and	CCONJ
framr-1725	330	26	out	out	ADP
framr-1725	330	27	of	of	ADP
framr-1725	330	28	sample	sample	NOUN
framr-1725	330	29	forecast	forecast	NOUN
framr-1725	330	30	,	,	PUNCT
framr-1725	330	31	followed	follow	VERB
framr-1725	330	32	by	by	ADP
framr-1725	330	33	the	the	DET
framr-1725	330	34	garch	garch	NOUN
framr-1725	330	35	type	type	NOUN
framr-1725	330	36	models	model	NOUN
framr-1725	330	37	.	.	PUNCT
framr-1725	331	1	the	the	DET
framr-1725	331	2	egarch	egarch	NOUN
framr-1725	331	3	model	model	NOUN
framr-1725	331	4	was	be	AUX
framr-1725	331	5	found	find	VERB
framr-1725	331	6	to	to	PART
framr-1725	331	7	outperform	outperform	VERB
framr-1725	331	8	other	other	ADJ
framr-1725	331	9	models	model	NOUN
framr-1725	331	10	in	in	ADP
framr-1725	331	11	forecasting	forecast	VERB
framr-1725	331	12	volatility	volatility	NOUN
framr-1725	331	13	in	in	ADP
framr-1725	331	14	this	this	DET
framr-1725	331	15	analysis	analysis	NOUN
framr-1725	331	16	.	.	PUNCT
framr-1725	332	1	its	its	PRON
framr-1725	332	2	superiority	superiority	NOUN
framr-1725	332	3	was	be	AUX
framr-1725	332	4	observed	observe	VERB
framr-1725	332	5	in	in	ADP
framr-1725	332	6	return	return	NOUN
framr-1725	332	7	series	series	NOUN
framr-1725	332	8	like	like	ADP
framr-1725	332	9	the	the	DET
framr-1725	332	10	nikkei	nikkei	NOUN
framr-1725	332	11	225	225	NUM
framr-1725	332	12	where	where	SCONJ
framr-1725	332	13	the	the	DET
framr-1725	332	14	egarch	egarch	NOUN
framr-1725	332	15	model	model	NOUN
framr-1725	332	16	tend	tend	VERB
framr-1725	332	17	to	to	PART
framr-1725	332	18	outperform	outperform	VERB
framr-1725	332	19	other	other	ADJ
framr-1725	332	20	models	model	NOUN
framr-1725	332	21	both	both	CCONJ
framr-1725	332	22	in	in	ADP
framr-1725	332	23	out	out	ADP
framr-1725	332	24	of	of	ADP
framr-1725	332	25	sample	sample	NOUN
framr-1725	332	26	forecast	forecast	NOUN
framr-1725	332	27	and	and	CCONJ
framr-1725	332	28	in	in	ADP
framr-1725	332	29	sample	sample	NOUN
framr-1725	332	30	forecast	forecast	NOUN
framr-1725	332	31	.	.	PUNCT
framr-1725	333	1	funding	funding	NOUN
framr-1725	333	2	:	:	PUNCT
framr-1725	333	3	this	this	DET
framr-1725	333	4	study	study	NOUN
framr-1725	333	5	received	receive	VERB
framr-1725	333	6	no	no	DET
framr-1725	333	7	specific	specific	ADJ
framr-1725	333	8	financial	financial	ADJ
framr-1725	333	9	support	support	NOUN
framr-1725	333	10	.	.	PUNCT
framr-1725	334	1	competing	compete	VERB
framr-1725	334	2	interests	interest	NOUN
framr-1725	334	3	:	:	PUNCT
framr-1725	334	4	the	the	DET
framr-1725	334	5	authors	author	NOUN
framr-1725	334	6	declare	declare	VERB
framr-1725	334	7	that	that	SCONJ
framr-1725	334	8	they	they	PRON
framr-1725	334	9	have	have	VERB
framr-1725	334	10	no	no	DET
framr-1725	334	11	competing	compete	VERB
framr-1725	334	12	interests	interest	NOUN
framr-1725	334	13	.	.	PUNCT
framr-1725	335	1	contributors	contributor	NOUN
framr-1725	335	2	/	/	SYM
framr-1725	335	3	acknowledgement	acknowledgement	NOUN
framr-1725	335	4	:	:	PUNCT
framr-1725	335	5	all	all	DET
framr-1725	335	6	authors	author	NOUN
framr-1725	335	7	contributed	contribute	VERB
framr-1725	335	8	equally	equally	ADV
framr-1725	335	9	to	to	ADP
framr-1725	335	10	the	the	DET
framr-1725	335	11	conception	conception	NOUN
framr-1725	335	12	and	and	CCONJ
framr-1725	335	13	design	design	NOUN
framr-1725	335	14	of	of	ADP
framr-1725	335	15	the	the	DET
framr-1725	335	16	study	study	NOUN
framr-1725	335	17	.	.	PUNCT
framr-1725	336	1	references	reference	NOUN
framr-1725	336	2	abdul	abdul	PROPN
framr-1725	336	3	,	,	PUNCT
framr-1725	336	4	r.	r.	PROPN
framr-1725	336	5	and	and	CCONJ
framr-1725	336	6	a.	a.	NOUN
framr-1725	336	7	shabbir	shabbir	PROPN
framr-1725	336	8	,	,	PUNCT
framr-1725	336	9	2008	2008	NUM
framr-1725	336	10	.	.	PUNCT
framr-1725	337	1	predicting	predict	VERB
framr-1725	337	2	stock	stock	NOUN
framr-1725	337	3	returns	return	NOUN
framr-1725	337	4	volatility	volatility	NOUN
framr-1725	337	5	:	:	PUNCT
framr-1725	337	6	an	an	DET
framr-1725	337	7	evaluation	evaluation	NOUN
framr-1725	337	8	of	of	ADP
framr-1725	337	9	linear	linear	PROPN
framr-1725	337	10	vs.	vs.	ADP
framr-1725	337	11	nonlinear	nonlinear	ADJ
framr-1725	337	12	methods	method	NOUN
framr-1725	337	13	.	.	PUNCT
framr-1725	338	1	international	international	ADJ
framr-1725	338	2	research	research	PROPN
framr-1725	338	3	journal	journal	NOUN
framr-1725	338	4	of	of	ADP
framr-1725	338	5	finance	finance	NOUN
framr-1725	338	6	and	and	CCONJ
framr-1725	338	7	economics	economic	NOUN
framr-1725	338	8	,	,	PUNCT
framr-1725	338	9	20(141	20(141	NOUN
framr-1725	338	10	-	-	SYM
framr-1725	338	11	150	150	NUM
framr-1725	338	12	):	):	PUNCT
framr-1725	338	13	31	31	NUM
framr-1725	338	14	.	.	PUNCT
framr-1725	339	1	akgiray	akgiray	VERB
framr-1725	339	2	,	,	PUNCT
framr-1725	339	3	v.	v.	ADP
framr-1725	339	4	,	,	PUNCT
framr-1725	339	5	1989	1989	NUM
framr-1725	339	6	.	.	PUNCT
framr-1725	340	1	conditional	conditional	ADJ
framr-1725	340	2	heteroscedasticity	heteroscedasticity	NOUN
framr-1725	340	3	in	in	ADP
framr-1725	340	4	time	time	NOUN
framr-1725	340	5	series	series	NOUN
framr-1725	340	6	of	of	ADP
framr-1725	340	7	stock	stock	NOUN
framr-1725	340	8	returns	return	NOUN
framr-1725	340	9	:	:	PUNCT
framr-1725	340	10	evidence	evidence	NOUN
framr-1725	340	11	and	and	CCONJ
framr-1725	340	12	forecasts	forecast	NOUN
framr-1725	340	13	.	.	PUNCT
framr-1725	341	1	the	the	DET
framr-1725	341	2	journal	journal	NOUN
framr-1725	341	3	of	of	ADP
framr-1725	341	4	business	business	NOUN
framr-1725	341	5	,	,	PUNCT
framr-1725	341	6	62(1	62(1	NOUN
framr-1725	341	7	):	):	PUNCT
framr-1725	341	8	55	55	NUM
framr-1725	341	9	-	-	SYM
framr-1725	341	10	80	80	NUM
framr-1725	341	11	.	.	PUNCT
framr-1725	341	12	available	available	ADJ
framr-1725	341	13	at	at	ADP
framr-1725	341	14	:	:	PUNCT
framr-1725	341	15	https://doi.org/10.1086/296451	https://doi.org/10.1086/296451	ADJ
framr-1725	341	16	.	.	PUNCT
framr-1725	342	1	angelidis	angelidi	NOUN
framr-1725	342	2	,	,	PUNCT
framr-1725	342	3	t.	t.	PROPN
framr-1725	342	4	,	,	PUNCT
framr-1725	342	5	a.	a.	NOUN
framr-1725	342	6	benos	benos	PROPN
framr-1725	342	7	and	and	CCONJ
framr-1725	342	8	s.	s.	PROPN
framr-1725	342	9	degiannakis	degiannakis	PROPN
framr-1725	342	10	,	,	PUNCT
framr-1725	342	11	2003	2003	NUM
framr-1725	342	12	.	.	PUNCT
framr-1725	343	1	the	the	DET
framr-1725	343	2	use	use	NOUN
framr-1725	343	3	of	of	ADP
framr-1725	343	4	garch	garch	NOUN
framr-1725	343	5	models	model	NOUN
framr-1725	343	6	in	in	ADP
framr-1725	343	7	var	var	PROPN
framr-1725	343	8	estimation	estimation	NOUN
framr-1725	343	9	.	.	PUNCT
framr-1725	344	1	discussion	discussion	NOUN
framr-1725	344	2	paper	paper	NOUN
framr-1725	344	3	,	,	PUNCT
framr-1725	344	4	university	university	NOUN
framr-1725	344	5	of	of	ADP
framr-1725	344	6	piraeus	piraeus	NOUN
framr-1725	344	7	.	.	PUNCT
framr-1725	345	1	balaban	balaban	PROPN
framr-1725	345	2	,	,	PUNCT
framr-1725	345	3	e.	e.	PROPN
framr-1725	345	4	and	and	CCONJ
framr-1725	345	5	a.	a.	PROPN
framr-1725	345	6	bayar	bayar	PROPN
framr-1725	345	7	,	,	PUNCT
framr-1725	345	8	2005	2005	NUM
framr-1725	345	9	.	.	PUNCT
framr-1725	346	1	stock	stock	NOUN
framr-1725	346	2	returns	return	NOUN
framr-1725	346	3	and	and	CCONJ
framr-1725	346	4	volatility	volatility	NOUN
framr-1725	346	5	:	:	PUNCT
framr-1725	346	6	empirical	empirical	ADJ
framr-1725	346	7	evidence	evidence	NOUN
framr-1725	346	8	from	from	ADP
framr-1725	346	9	fourteen	fourteen	NUM
framr-1725	346	10	countries	country	NOUN
framr-1725	346	11	.	.	PUNCT
framr-1725	347	1	applied	apply	VERB
framr-1725	347	2	economics	economic	NOUN
framr-1725	347	3	letters	letter	NOUN
framr-1725	347	4	,	,	PUNCT
framr-1725	347	5	12(10	12(10	NUM
framr-1725	347	6	):	):	PUNCT
framr-1725	347	7	603	603	NUM
framr-1725	347	8	-	-	SYM
framr-1725	347	9	611	611	NUM
framr-1725	347	10	.	.	PUNCT
framr-1725	347	11	available	available	ADJ
framr-1725	347	12	at	at	ADP
framr-1725	347	13	:	:	PUNCT
framr-1725	347	14	https://doi.org/10.1080/13504850500120607	https://doi.org/10.1080/13504850500120607	X
framr-1725	347	15	.	.	PUNCT
framr-1725	348	1	black	black	ADJ
framr-1725	348	2	,	,	PUNCT
framr-1725	348	3	f.	f.	PROPN
framr-1725	348	4	and	and	CCONJ
framr-1725	348	5	m.	m.	NOUN
framr-1725	348	6	scholes	schole	NOUN
framr-1725	348	7	,	,	PUNCT
framr-1725	348	8	1973	1973	NUM
framr-1725	348	9	.	.	PUNCT
framr-1725	349	1	the	the	DET
framr-1725	349	2	pricing	pricing	NOUN
framr-1725	349	3	of	of	ADP
framr-1725	349	4	options	option	NOUN
framr-1725	349	5	and	and	CCONJ
framr-1725	349	6	corporate	corporate	ADJ
framr-1725	349	7	liabilities	liability	NOUN
framr-1725	349	8	.	.	PUNCT
framr-1725	350	1	journal	journal	NOUN
framr-1725	350	2	of	of	ADP
framr-1725	350	3	political	political	ADJ
framr-1725	350	4	economy	economy	NOUN
framr-1725	350	5	,	,	PUNCT
framr-1725	350	6	81(3	81(3	NUM
framr-1725	350	7	):	):	PUNCT
framr-1725	350	8	637	637	NUM
framr-1725	350	9	-	-	SYM
framr-1725	350	10	654	654	NUM
framr-1725	350	11	.	.	PUNCT
framr-1725	351	1	available	available	ADJ
framr-1725	351	2	at	at	ADP
framr-1725	351	3	:	:	PUNCT
framr-1725	351	4	https://doi.org/10.1086/260062	https://doi.org/10.1086/260062	X
framr-1725	351	5	.	.	PUNCT
framr-1725	352	1	financial	financial	ADJ
framr-1725	352	2	risk	risk	NOUN
framr-1725	352	3	and	and	CCONJ
framr-1725	352	4	management	management	NOUN
framr-1725	352	5	reviews	review	NOUN
framr-1725	352	6	,	,	PUNCT
framr-1725	352	7	2018	2018	NUM
framr-1725	352	8	,	,	PUNCT
framr-1725	352	9	4(1	4(1	NOUN
framr-1725	352	10	):	):	PUNCT
framr-1725	352	11	1	1	NUM
framr-1725	352	12	-	-	SYM
framr-1725	352	13	23	23	NUM
framr-1725	352	14	14	14	NUM
framr-1725	352	15	©	©	PROPN
framr-1725	352	16	2018	2018	NUM
framr-1725	352	17	conscientia	conscientia	PROPN
framr-1725	352	18	beam	beam	PROPN
framr-1725	352	19	.	.	PUNCT
framr-1725	353	1	all	all	DET
framr-1725	353	2	rights	right	NOUN
framr-1725	353	3	reserved	reserve	VERB
framr-1725	353	4	.	.	PUNCT
framr-1725	354	1	boguth	boguth	NOUN
framr-1725	354	2	,	,	PUNCT
framr-1725	354	3	o.	o.	PROPN
framr-1725	354	4	,	,	PUNCT
framr-1725	354	5	m.	m.	NOUN
framr-1725	354	6	carlson	carlson	PROPN
framr-1725	354	7	,	,	PUNCT
framr-1725	354	8	a.	a.	NOUN
framr-1725	354	9	fisher	fisher	PROPN
framr-1725	354	10	and	and	CCONJ
framr-1725	354	11	m.	m.	NOUN
framr-1725	354	12	simutin	simutin	PROPN
framr-1725	354	13	,	,	PUNCT
framr-1725	354	14	2011	2011	NUM
framr-1725	354	15	.	.	PUNCT
framr-1725	355	1	conditional	conditional	ADJ
framr-1725	355	2	risk	risk	NOUN
framr-1725	355	3	and	and	CCONJ
framr-1725	355	4	performance	performance	NOUN
framr-1725	355	5	evaluation	evaluation	NOUN
framr-1725	355	6	:	:	PUNCT
framr-1725	355	7	volatility	volatility	NOUN
framr-1725	355	8	timing	timing	NOUN
framr-1725	355	9	,	,	PUNCT
framr-1725	355	10	overconditioning	overconditioning	NOUN
framr-1725	355	11	,	,	PUNCT
framr-1725	355	12	and	and	CCONJ
framr-1725	355	13	new	new	ADJ
framr-1725	355	14	estimates	estimate	NOUN
framr-1725	355	15	of	of	ADP
framr-1725	355	16	momentum	momentum	NOUN
framr-1725	355	17	alphas	alpha	NOUN
framr-1725	355	18	.	.	PUNCT
framr-1725	356	1	journal	journal	PROPN
framr-1725	356	2	of	of	ADP
framr-1725	356	3	financial	financial	ADJ
framr-1725	356	4	economics	economic	NOUN
framr-1725	356	5	,	,	PUNCT
framr-1725	356	6	102(2	102(2	NUM
framr-1725	356	7	):	):	PUNCT
framr-1725	356	8	363	363	NUM
framr-1725	356	9	-	-	SYM
framr-1725	356	10	389	389	NUM
framr-1725	356	11	.	.	PUNCT
framr-1725	356	12	available	available	ADJ
framr-1725	356	13	at	at	ADP
framr-1725	356	14	:	:	PUNCT
framr-1725	356	15	https://doi.org/10.1016/j.jfineco.2011.06.002	https://doi.org/10.1016/j.jfineco.2011.06.002	PROPN
framr-1725	356	16	.	.	PROPN
framr-1725	356	17	bollerslev	bollerslev	PROPN
framr-1725	356	18	,	,	PUNCT
framr-1725	356	19	t.	t.	PROPN
framr-1725	356	20	,	,	PUNCT
framr-1725	356	21	1986	1986	NUM
framr-1725	356	22	.	.	PUNCT
framr-1725	357	1	generalized	generalize	VERB
framr-1725	357	2	autoregressive	autoregressive	ADJ
framr-1725	357	3	conditional	conditional	ADJ
framr-1725	357	4	heteroskedasticity	heteroskedasticity	NOUN
framr-1725	357	5	.	.	PUNCT
framr-1725	358	1	journal	journal	PROPN
framr-1725	358	2	of	of	ADP
framr-1725	358	3	econometrics	econometric	NOUN
framr-1725	358	4	,	,	PUNCT
framr-1725	358	5	31(3	31(3	NUM
framr-1725	358	6	):	):	PUNCT
framr-1725	358	7	307	307	NUM
framr-1725	358	8	-	-	SYM
framr-1725	358	9	327	327	NUM
framr-1725	358	10	.	.	PUNCT
framr-1725	358	11	available	available	ADJ
framr-1725	358	12	at	at	ADP
framr-1725	358	13	:	:	PUNCT
framr-1725	358	14	https://doi.org/10.1016/0304-4076(86)90063-1	https://doi.org/10.1016/0304-4076(86)90063-1	PROPN
framr-1725	358	15	.	.	PROPN
framr-1725	358	16	bollerslev	bollerslev	PROPN
framr-1725	358	17	,	,	PUNCT
framr-1725	358	18	t.	t.	PROPN
framr-1725	358	19	,	,	PUNCT
framr-1725	358	20	b.	b.	PROPN
framr-1725	358	21	hood	hood	PROPN
framr-1725	358	22	,	,	PUNCT
framr-1725	358	23	j.	j.	PROPN
framr-1725	358	24	huss	huss	PROPN
framr-1725	358	25	and	and	CCONJ
framr-1725	358	26	l.h	l.h	PROPN
framr-1725	358	27	.	.	PROPN
framr-1725	358	28	pedersen	pedersen	PROPN
framr-1725	358	29	,	,	PUNCT
framr-1725	358	30	2016	2016	NUM
framr-1725	358	31	.	.	PUNCT
framr-1725	359	1	risk	risk	NOUN
framr-1725	359	2	everywhere	everywhere	ADV
framr-1725	359	3	:	:	PUNCT
framr-1725	359	4	modeling	modeling	NOUN
framr-1725	359	5	and	and	CCONJ
framr-1725	359	6	managing	manage	VERB
framr-1725	359	7	volatility	volatility	NOUN
framr-1725	359	8	.	.	PUNCT
framr-1725	360	1	working	work	VERB
framr-1725	360	2	paper	paper	NOUN
framr-1725	360	3	.	.	PUNCT
framr-1725	361	1	bollerslev	bollerslev	ADJ
framr-1725	361	2	,	,	PUNCT
framr-1725	361	3	t.	t.	PROPN
framr-1725	361	4	,	,	PUNCT
framr-1725	361	5	b.	b.	PROPN
framr-1725	361	6	hood	hood	PROPN
framr-1725	361	7	,	,	PUNCT
framr-1725	361	8	j.	j.	PROPN
framr-1725	361	9	huss	huss	PROPN
framr-1725	361	10	and	and	CCONJ
framr-1725	361	11	l.h	l.h	PROPN
framr-1725	361	12	.	.	PROPN
framr-1725	361	13	pedersen	pedersen	PROPN
framr-1725	361	14	,	,	PUNCT
framr-1725	361	15	2018	2018	NUM
framr-1725	361	16	.	.	PUNCT
framr-1725	362	1	risk	risk	NOUN
framr-1725	362	2	everywhere	everywhere	ADV
framr-1725	362	3	:	:	PUNCT
framr-1725	362	4	modeling	modeling	NOUN
framr-1725	362	5	and	and	CCONJ
framr-1725	362	6	managing	manage	VERB
framr-1725	362	7	volatility	volatility	NOUN
framr-1725	362	8	.	.	PUNCT
framr-1725	363	1	the	the	DET
framr-1725	363	2	review	review	NOUN
framr-1725	363	3	of	of	ADP
framr-1725	363	4	financial	financial	ADJ
framr-1725	363	5	studies	study	NOUN
framr-1725	363	6	,	,	PUNCT
framr-1725	363	7	31(7	31(7	NUM
framr-1725	363	8	):	):	PUNCT
framr-1725	363	9	2729	2729	NUM
framr-1725	363	10	-	-	SYM
framr-1725	363	11	2773	2773	NUM
framr-1725	363	12	.	.	PUNCT
framr-1725	363	13	available	available	ADJ
framr-1725	363	14	at	at	ADP
framr-1725	363	15	:	:	PUNCT
framr-1725	363	16	https://doi.org/10.1093/rfs/hhy041	https://doi.org/10.1093/rfs/hhy041	PROPN
framr-1725	363	17	.	.	PROPN
framr-1725	363	18	brailsford	brailsford	PROPN
framr-1725	363	19	,	,	PUNCT
framr-1725	363	20	t.j	t.j	PROPN
framr-1725	363	21	.	.	PROPN
framr-1725	363	22	and	and	CCONJ
framr-1725	363	23	r.w	r.w	PROPN
framr-1725	363	24	.	.	PROPN
framr-1725	363	25	faff	faff	PROPN
framr-1725	363	26	,	,	PUNCT
framr-1725	363	27	1996	1996	NUM
framr-1725	363	28	.	.	PUNCT
framr-1725	364	1	an	an	DET
framr-1725	364	2	evaluation	evaluation	NOUN
framr-1725	364	3	of	of	ADP
framr-1725	364	4	volatility	volatility	NOUN
framr-1725	364	5	forecasting	forecasting	NOUN
framr-1725	364	6	techniques	technique	NOUN
framr-1725	364	7	.	.	PUNCT
framr-1725	365	1	journal	journal	PROPN
framr-1725	365	2	of	of	ADP
framr-1725	365	3	banking	banking	NOUN
framr-1725	365	4	&	&	CCONJ
framr-1725	365	5	finance	finance	PROPN
framr-1725	365	6	,	,	PUNCT
framr-1725	365	7	20(3	20(3	NUM
framr-1725	365	8	):	):	PUNCT
framr-1725	365	9	419438	419438	NUM
framr-1725	365	10	.	.	PUNCT
framr-1725	366	1	available	available	ADJ
framr-1725	366	2	at	at	ADP
framr-1725	366	3	:	:	PUNCT
framr-1725	366	4	https://doi.org/10.1016/0378-4266(95)00015-1	https://doi.org/10.1016/0378-4266(95)00015-1	PROPN
framr-1725	366	5	.	.	PUNCT
framr-1725	366	6	brooks	brooks	PROPN
framr-1725	366	7	,	,	PUNCT
framr-1725	366	8	c.	c.	PROPN
framr-1725	366	9	,	,	PUNCT
framr-1725	366	10	2002	2002	NUM
framr-1725	366	11	.	.	PUNCT
framr-1725	367	1	introductory	introductory	ADJ
framr-1725	367	2	econometrics	econometric	NOUN
framr-1725	367	3	for	for	ADP
framr-1725	367	4	finance	finance	NOUN
framr-1725	367	5	.	.	PUNCT
framr-1725	368	1	cambridge	cambridge	PROPN
framr-1725	368	2	university	university	PROPN
framr-1725	368	3	press	press	NOUN
framr-1725	368	4	.	.	PUNCT
framr-1725	369	1	brooks	brooks	PROPN
framr-1725	369	2	,	,	PUNCT
framr-1725	369	3	c.	c.	PROPN
framr-1725	369	4	,	,	PUNCT
framr-1725	369	5	a.	a.	NOUN
framr-1725	369	6	clare	clare	PROPN
framr-1725	369	7	,	,	PUNCT
framr-1725	369	8	j.w	j.w	PROPN
framr-1725	369	9	.	.	PROPN
framr-1725	369	10	dalle	dalle	PROPN
framr-1725	369	11	molle	molle	PROPN
framr-1725	369	12	and	and	CCONJ
framr-1725	369	13	g.	g.	PROPN
framr-1725	369	14	persand	persand	PROPN
framr-1725	369	15	,	,	PUNCT
framr-1725	369	16	2005	2005	NUM
framr-1725	369	17	.	.	PUNCT
framr-1725	370	1	a	a	DET
framr-1725	370	2	comparison	comparison	NOUN
framr-1725	370	3	of	of	ADP
framr-1725	370	4	extreme	extreme	ADJ
framr-1725	370	5	value	value	NOUN
framr-1725	370	6	theory	theory	NOUN
framr-1725	370	7	approaches	approach	VERB
framr-1725	370	8	for	for	ADP
framr-1725	370	9	determining	determine	VERB
framr-1725	370	10	value	value	NOUN
framr-1725	370	11	at	at	ADP
framr-1725	370	12	risk	risk	NOUN
framr-1725	370	13	.	.	PUNCT
framr-1725	371	1	journal	journal	NOUN
framr-1725	371	2	of	of	ADP
framr-1725	371	3	empirical	empirical	ADJ
framr-1725	371	4	finance	finance	NOUN
framr-1725	371	5	,	,	PUNCT
framr-1725	371	6	12(2	12(2	NUM
framr-1725	371	7	):	):	PUNCT
framr-1725	371	8	339	339	NUM
framr-1725	371	9	-	-	SYM
framr-1725	371	10	352	352	NUM
framr-1725	371	11	.	.	PUNCT
framr-1725	371	12	available	available	ADJ
framr-1725	371	13	at	at	ADP
framr-1725	371	14	:	:	PUNCT
framr-1725	371	15	https://doi.org/10.1016/j.jempfin.2004.01.004	https://doi.org/10.1016/j.jempfin.2004.01.004	X
framr-1725	371	16	.	.	PUNCT
framr-1725	372	1	cao	cao	PROPN
framr-1725	372	2	,	,	PUNCT
framr-1725	372	3	c.q	c.q	PROPN
framr-1725	372	4	.	.	PROPN
framr-1725	372	5	and	and	CCONJ
framr-1725	372	6	r.s	r.s	PROPN
framr-1725	372	7	.	.	PROPN
framr-1725	372	8	tsay	tsay	PROPN
framr-1725	372	9	,	,	PUNCT
framr-1725	372	10	1992	1992	NUM
framr-1725	372	11	.	.	PUNCT
framr-1725	373	1	nonlinear	nonlinear	ADJ
framr-1725	373	2	time	time	NOUN
framr-1725	373	3	series	series	PROPN
framr-1725	373	4	analysis	analysis	NOUN
framr-1725	373	5	of	of	ADP
framr-1725	373	6	stock	stock	NOUN
framr-1725	373	7	volatilities	volatility	NOUN
framr-1725	373	8	.	.	PUNCT
framr-1725	374	1	journal	journal	PROPN
framr-1725	374	2	of	of	ADP
framr-1725	374	3	applied	apply	VERB
framr-1725	374	4	econometrics	econometric	NOUN
framr-1725	374	5	,	,	PUNCT
framr-1725	374	6	7(s1	7(s1	NUM
framr-1725	374	7	):	):	PUNCT
framr-1725	374	8	s165s185	s165s185	X
framr-1725	374	9	.	.	PUNCT
framr-1725	374	10	available	available	ADJ
framr-1725	374	11	at	at	ADP
framr-1725	374	12	:	:	PUNCT
framr-1725	374	13	https://doi.org/10.1002/jae.3950070512	https://doi.org/10.1002/jae.3950070512	PROPN
framr-1725	374	14	.	.	PUNCT
framr-1725	375	1	cipollini	cipollini	PROPN
framr-1725	375	2	,	,	PUNCT
framr-1725	375	3	f.	f.	PROPN
framr-1725	375	4	,	,	PUNCT
framr-1725	375	5	g.m	g.m	PROPN
framr-1725	375	6	.	.	PROPN
framr-1725	375	7	gallo	gallo	PROPN
framr-1725	375	8	and	and	CCONJ
framr-1725	375	9	e.	e.	PROPN
framr-1725	375	10	otranto	otranto	PROPN
framr-1725	375	11	,	,	PUNCT
framr-1725	375	12	2017	2017	NUM
framr-1725	375	13	.	.	PUNCT
framr-1725	376	1	on	on	ADP
framr-1725	376	2	heteroskedasticity	heteroskedasticity	NOUN
framr-1725	376	3	and	and	CCONJ
framr-1725	376	4	regimes	regime	NOUN
framr-1725	376	5	in	in	ADP
framr-1725	376	6	volatility	volatility	NOUN
framr-1725	376	7	forecasting	forecasting	NOUN
framr-1725	376	8	.	.	PUNCT
framr-1725	377	1	working	work	VERB
framr-1725	377	2	paper	paper	NOUN
framr-1725	377	3	.	.	PUNCT
framr-1725	378	1	constantinides	constantinide	VERB
framr-1725	378	2	,	,	PUNCT
framr-1725	378	3	g.m	g.m	PROPN
framr-1725	378	4	.	.	PROPN
framr-1725	378	5	,	,	PUNCT
framr-1725	378	6	j.c	j.c	PROPN
framr-1725	378	7	.	.	PROPN
framr-1725	378	8	jackwerth	jackwerth	PROPN
framr-1725	378	9	and	and	CCONJ
framr-1725	378	10	a.	a.	NOUN
framr-1725	378	11	savov	savov	PROPN
framr-1725	378	12	,	,	PUNCT
framr-1725	378	13	2013	2013	NUM
framr-1725	378	14	.	.	PUNCT
framr-1725	379	1	the	the	DET
framr-1725	379	2	puzzle	puzzle	NOUN
framr-1725	379	3	of	of	ADP
framr-1725	379	4	index	index	NOUN
framr-1725	379	5	option	option	NOUN
framr-1725	379	6	returns	return	NOUN
framr-1725	379	7	.	.	PUNCT
framr-1725	380	1	review	review	NOUN
framr-1725	380	2	of	of	ADP
framr-1725	380	3	asset	asset	NOUN
framr-1725	380	4	pricing	pricing	NOUN
framr-1725	380	5	studies	study	NOUN
framr-1725	380	6	,	,	PUNCT
framr-1725	380	7	3(2	3(2	NUM
framr-1725	380	8	):	):	PUNCT
framr-1725	380	9	229	229	NUM
framr-1725	380	10	-	-	SYM
framr-1725	380	11	257	257	NUM
framr-1725	380	12	.	.	PUNCT
framr-1725	380	13	available	available	ADJ
framr-1725	380	14	at	at	ADP
framr-1725	380	15	:	:	PUNCT
framr-1725	380	16	https://doi.org/10.1093/rapstu/rat004	https://doi.org/10.1093/rapstu/rat004	ADJ
framr-1725	380	17	.	.	PUNCT
framr-1725	381	1	day	day	NOUN
framr-1725	381	2	,	,	PUNCT
framr-1725	381	3	t.e	t.e	PROPN
framr-1725	381	4	.	.	PROPN
framr-1725	381	5	and	and	CCONJ
framr-1725	381	6	c.m	c.m	PROPN
framr-1725	381	7	.	.	PROPN
framr-1725	381	8	lewis	lewis	PROPN
framr-1725	381	9	,	,	PUNCT
framr-1725	381	10	1992	1992	NUM
framr-1725	381	11	.	.	PUNCT
framr-1725	382	1	stock	stock	NOUN
framr-1725	382	2	market	market	NOUN
framr-1725	382	3	volatility	volatility	NOUN
framr-1725	382	4	and	and	CCONJ
framr-1725	382	5	the	the	DET
framr-1725	382	6	information	information	NOUN
framr-1725	382	7	content	content	NOUN
framr-1725	382	8	of	of	ADP
framr-1725	382	9	stock	stock	NOUN
framr-1725	382	10	index	index	NOUN
framr-1725	382	11	options	option	NOUN
framr-1725	382	12	.	.	PUNCT
framr-1725	383	1	journal	journal	PROPN
framr-1725	383	2	of	of	ADP
framr-1725	383	3	econometrics	econometric	NOUN
framr-1725	383	4	,	,	PUNCT
framr-1725	383	5	52(1	52(1	NOUN
framr-1725	383	6	-	-	SYM
framr-1725	383	7	2	2	NUM
framr-1725	383	8	):	):	PUNCT
framr-1725	383	9	267	267	NUM
framr-1725	383	10	-	-	SYM
framr-1725	383	11	287	287	NUM
framr-1725	383	12	.	.	PUNCT
framr-1725	383	13	available	available	ADJ
framr-1725	383	14	at	at	ADP
framr-1725	383	15	:	:	PUNCT
framr-1725	383	16	https://doi.org/10.1016/0304-4076(92)90073-z	https://doi.org/10.1016/0304-4076(92)90073-z	PROPN
framr-1725	383	17	.	.	PUNCT
framr-1725	383	18	dimson	dimson	PROPN
framr-1725	383	19	,	,	PUNCT
framr-1725	383	20	e.	e.	PROPN
framr-1725	383	21	and	and	CCONJ
framr-1725	383	22	p.	p.	PROPN
framr-1725	383	23	marsh	marsh	PROPN
framr-1725	383	24	,	,	PUNCT
framr-1725	383	25	1990	1990	NUM
framr-1725	383	26	.	.	PUNCT
framr-1725	384	1	volatility	volatility	NOUN
framr-1725	384	2	forecasting	forecasting	NOUN
framr-1725	384	3	without	without	ADP
framr-1725	384	4	data	data	NOUN
framr-1725	384	5	-	-	PUNCT
framr-1725	384	6	snooping	snoop	VERB
framr-1725	384	7	.	.	PUNCT
framr-1725	385	1	journal	journal	NOUN
framr-1725	385	2	of	of	ADP
framr-1725	385	3	banking	banking	NOUN
framr-1725	385	4	&	&	CCONJ
framr-1725	385	5	finance	finance	NOUN
framr-1725	385	6	,	,	PUNCT
framr-1725	385	7	14(2	14(2	NUM
framr-1725	385	8	-	-	SYM
framr-1725	385	9	3	3	NUM
framr-1725	385	10	):	):	PUNCT
framr-1725	385	11	399	399	NUM
framr-1725	385	12	-	-	SYM
framr-1725	385	13	421	421	NUM
framr-1725	385	14	.	.	PUNCT
framr-1725	386	1	available	available	ADJ
framr-1725	386	2	at	at	ADP
framr-1725	386	3	:	:	PUNCT
framr-1725	386	4	https://doi.org/10.1016/0378-4266(90)90056-8	https://doi.org/10.1016/0378-4266(90)90056-8	X
framr-1725	386	5	.	.	PUNCT
framr-1725	387	1	engle	engle	PROPN
framr-1725	387	2	,	,	PUNCT
framr-1725	387	3	r.f	r.f	PROPN
framr-1725	387	4	.	.	PROPN
framr-1725	387	5	,	,	PUNCT
framr-1725	387	6	1982	1982	NUM
framr-1725	387	7	.	.	PUNCT
framr-1725	388	1	autoregressive	autoregressive	ADJ
framr-1725	388	2	conditional	conditional	ADJ
framr-1725	388	3	heteroscedasticity	heteroscedasticity	NOUN
framr-1725	388	4	with	with	ADP
framr-1725	388	5	estimates	estimate	NOUN
framr-1725	388	6	of	of	ADP
framr-1725	388	7	the	the	DET
framr-1725	388	8	variance	variance	NOUN
framr-1725	388	9	of	of	ADP
framr-1725	388	10	united	united	PROPN
framr-1725	388	11	kingdom	kingdom	PROPN
framr-1725	388	12	inflation	inflation	NOUN
framr-1725	388	13	.	.	PUNCT
framr-1725	389	1	econometrica	econometrica	PROPN
framr-1725	389	2	:	:	PUNCT
framr-1725	389	3	journal	journal	NOUN
framr-1725	389	4	of	of	ADP
framr-1725	389	5	the	the	DET
framr-1725	389	6	econometric	econometric	ADJ
framr-1725	389	7	society	society	NOUN
framr-1725	389	8	,	,	PUNCT
framr-1725	389	9	50(4	50(4	NUM
framr-1725	389	10	):	):	PUNCT
framr-1725	389	11	987	987	NUM
framr-1725	389	12	-	-	SYM
framr-1725	389	13	1007	1007	NUM
framr-1725	389	14	.	.	PUNCT
framr-1725	390	1	available	available	ADJ
framr-1725	390	2	at	at	ADP
framr-1725	390	3	:	:	PUNCT
framr-1725	390	4	https://doi.org/10.2307/1912773	https://doi.org/10.2307/1912773	ADJ
framr-1725	390	5	.	.	PUNCT
framr-1725	391	1	engle	engle	PROPN
framr-1725	391	2	,	,	PUNCT
framr-1725	391	3	r.f	r.f	PROPN
framr-1725	391	4	.	.	PROPN
framr-1725	391	5	and	and	CCONJ
framr-1725	391	6	v.k	v.k	PROPN
framr-1725	391	7	.	.	PROPN
framr-1725	391	8	ng	ng	PROPN
framr-1725	391	9	,	,	PUNCT
framr-1725	391	10	1993	1993	NUM
framr-1725	391	11	.	.	PUNCT
framr-1725	392	1	measuring	measure	VERB
framr-1725	392	2	and	and	CCONJ
framr-1725	392	3	testing	test	VERB
framr-1725	392	4	the	the	DET
framr-1725	392	5	impact	impact	NOUN
framr-1725	392	6	of	of	ADP
framr-1725	392	7	news	news	NOUN
framr-1725	392	8	on	on	ADP
framr-1725	392	9	volatility	volatility	NOUN
framr-1725	392	10	.	.	PUNCT
framr-1725	393	1	the	the	DET
framr-1725	393	2	journal	journal	PROPN
framr-1725	393	3	of	of	ADP
framr-1725	393	4	finance	finance	NOUN
framr-1725	393	5	,	,	PUNCT
framr-1725	393	6	48(5	48(5	NUM
framr-1725	393	7	):	):	PUNCT
framr-1725	393	8	17491778	17491778	NUM
framr-1725	393	9	.	.	PUNCT
framr-1725	393	10	available	available	ADJ
framr-1725	393	11	at	at	ADP
framr-1725	393	12	:	:	PUNCT
framr-1725	393	13	https://doi.org/10.2307/2329066	https://doi.org/10.2307/2329066	PROPN
framr-1725	393	14	.	.	PUNCT
framr-1725	394	1	figlewski	figlewski	PROPN
framr-1725	394	2	,	,	PUNCT
framr-1725	394	3	s.	s.	PROPN
framr-1725	394	4	,	,	PUNCT
framr-1725	394	5	1997	1997	NUM
framr-1725	394	6	.	.	PUNCT
framr-1725	395	1	forecasting	forecasting	NOUN
framr-1725	395	2	volatility	volatility	NOUN
framr-1725	395	3	.	.	PUNCT
framr-1725	396	1	financial	financial	ADJ
framr-1725	396	2	markets	market	NOUN
framr-1725	396	3	,	,	PUNCT
framr-1725	396	4	institutions	institution	NOUN
framr-1725	396	5	&	&	CCONJ
framr-1725	396	6	instruments	instrument	NOUN
framr-1725	396	7	,	,	PUNCT
framr-1725	396	8	6(1	6(1	NUM
framr-1725	396	9	):	):	PUNCT
framr-1725	396	10	1	1	NUM
framr-1725	396	11	-	-	SYM
framr-1725	396	12	88	88	NUM
framr-1725	396	13	.	.	PUNCT
framr-1725	397	1	figlewski	figlewski	PROPN
framr-1725	397	2	,	,	PUNCT
framr-1725	397	3	s.	s.	PROPN
framr-1725	397	4	,	,	PUNCT
framr-1725	397	5	r.	r.	PROPN
framr-1725	397	6	cumby	cumby	PROPN
framr-1725	397	7	and	and	CCONJ
framr-1725	397	8	j.	j.	PROPN
framr-1725	397	9	hasbrouck	hasbrouck	PROPN
framr-1725	397	10	,	,	PUNCT
framr-1725	397	11	1993	1993	NUM
framr-1725	397	12	.	.	PUNCT
framr-1725	398	1	forecasting	forecast	VERB
framr-1725	398	2	volatilities	volatility	NOUN
framr-1725	398	3	and	and	CCONJ
framr-1725	398	4	correlations	correlation	NOUN
framr-1725	398	5	with	with	ADP
framr-1725	398	6	egarch	egarch	NOUN
framr-1725	398	7	models	model	NOUN
framr-1725	398	8	.	.	PUNCT
framr-1725	399	1	the	the	DET
framr-1725	399	2	journal	journal	NOUN
framr-1725	399	3	of	of	ADP
framr-1725	399	4	derivatives	derivative	NOUN
framr-1725	399	5	,	,	PUNCT
framr-1725	399	6	1(2	1(2	NUM
framr-1725	399	7	):	):	PUNCT
framr-1725	399	8	51	51	NUM
framr-1725	399	9	-	-	SYM
framr-1725	399	10	63	63	NUM
framr-1725	399	11	.	.	PUNCT
framr-1725	399	12	available	available	ADJ
framr-1725	399	13	at	at	ADP
framr-1725	399	14	:	:	PUNCT
framr-1725	399	15	https://doi.org/10.3905/jod.1993.407877	https://doi.org/10.3905/jod.1993.407877	ADJ
framr-1725	399	16	.	.	PUNCT
framr-1725	399	17	heynen	heynen	PROPN
framr-1725	399	18	,	,	PUNCT
framr-1725	399	19	r.c	r.c	PROPN
framr-1725	399	20	.	.	PROPN
framr-1725	399	21	and	and	CCONJ
framr-1725	399	22	h.m	h.m	PROPN
framr-1725	399	23	.	.	PROPN
framr-1725	399	24	kat	kat	PROPN
framr-1725	399	25	,	,	PUNCT
framr-1725	399	26	1994	1994	NUM
framr-1725	399	27	.	.	PUNCT
framr-1725	400	1	volatility	volatility	NOUN
framr-1725	400	2	prediction	prediction	NOUN
framr-1725	400	3	:	:	PUNCT
framr-1725	400	4	a	a	DET
framr-1725	400	5	comparison	comparison	NOUN
framr-1725	400	6	of	of	ADP
framr-1725	400	7	the	the	DET
framr-1725	400	8	stochastic	stochastic	ADJ
framr-1725	400	9	volatility	volatility	NOUN
framr-1725	400	10	,	,	PUNCT
framr-1725	400	11	garch	garch	NOUN
framr-1725	400	12	(	(	PUNCT
framr-1725	400	13	1	1	NUM
framr-1725	400	14	,	,	PUNCT
framr-1725	400	15	1	1	NUM
framr-1725	400	16	)	)	PUNCT
framr-1725	400	17	and	and	CCONJ
framr-1725	400	18	egarch	egarch	NOUN
framr-1725	400	19	(	(	PUNCT
framr-1725	400	20	1	1	NUM
framr-1725	400	21	,	,	PUNCT
framr-1725	400	22	1	1	NUM
framr-1725	400	23	)	)	PUNCT
framr-1725	400	24	models	model	NOUN
framr-1725	400	25	.	.	PUNCT
framr-1725	401	1	the	the	DET
framr-1725	401	2	journal	journal	NOUN
framr-1725	401	3	of	of	ADP
framr-1725	401	4	derivatives	derivative	NOUN
framr-1725	401	5	,	,	PUNCT
framr-1725	401	6	2(2	2(2	NUM
framr-1725	401	7	):	):	PUNCT
framr-1725	401	8	50	50	NUM
framr-1725	401	9	-	-	SYM
framr-1725	401	10	65	65	NUM
framr-1725	401	11	.	.	PUNCT
framr-1725	401	12	available	available	ADJ
framr-1725	401	13	at	at	ADP
framr-1725	401	14	:	:	PUNCT
framr-1725	401	15	https://doi.org/10.3905/jod.1994.407912	https://doi.org/10.3905/jod.1994.407912	PROPN
framr-1725	401	16	.	.	PUNCT
framr-1725	402	1	kuwahara	kuwahara	PROPN
framr-1725	402	2	,	,	PUNCT
framr-1725	402	3	h.	h.	PROPN
framr-1725	402	4	and	and	CCONJ
framr-1725	402	5	t.a	t.a	PROPN
framr-1725	402	6	.	.	PROPN
framr-1725	402	7	marsh	marsh	PROPN
framr-1725	402	8	,	,	PUNCT
framr-1725	402	9	1992	1992	NUM
framr-1725	402	10	.	.	PUNCT
framr-1725	403	1	the	the	DET
framr-1725	403	2	pricing	pricing	NOUN
framr-1725	403	3	of	of	ADP
framr-1725	403	4	japanese	japanese	ADJ
framr-1725	403	5	equity	equity	NOUN
framr-1725	403	6	warrants	warrant	NOUN
framr-1725	403	7	.	.	PUNCT
framr-1725	404	1	management	management	NOUN
framr-1725	404	2	science	science	NOUN
framr-1725	404	3	,	,	PUNCT
framr-1725	404	4	38(11	38(11	NUM
framr-1725	404	5	):	):	PUNCT
framr-1725	404	6	1610	1610	NUM
framr-1725	404	7	-	-	SYM
framr-1725	404	8	1641	1641	NUM
framr-1725	404	9	.	.	PUNCT
framr-1725	405	1	available	available	ADJ
framr-1725	405	2	at	at	ADP
framr-1725	405	3	:	:	PUNCT
framr-1725	405	4	https://doi.org/10.1287/mnsc.38.11.1610	https://doi.org/10.1287/mnsc.38.11.1610	PROPN
framr-1725	405	5	.	.	PUNCT
framr-1725	406	1	lamoureux	lamoureux	PROPN
framr-1725	406	2	,	,	PUNCT
framr-1725	406	3	c.g	c.g	PROPN
framr-1725	406	4	.	.	PROPN
framr-1725	406	5	and	and	CCONJ
framr-1725	406	6	w.d	w.d	PROPN
framr-1725	406	7	.	.	PROPN
framr-1725	406	8	lastrapes	lastrapes	PROPN
framr-1725	406	9	,	,	PUNCT
framr-1725	406	10	1990	1990	NUM
framr-1725	406	11	.	.	PUNCT
framr-1725	407	1	heteroskedasticity	heteroskedasticity	NOUN
framr-1725	407	2	in	in	ADP
framr-1725	407	3	stock	stock	NOUN
framr-1725	407	4	return	return	NOUN
framr-1725	407	5	data	datum	NOUN
framr-1725	407	6	:	:	PUNCT
framr-1725	407	7	volume	volume	NOUN
framr-1725	407	8	versus	versus	ADP
framr-1725	407	9	garch	garch	NOUN
framr-1725	407	10	effects	effect	NOUN
framr-1725	407	11	.	.	PUNCT
framr-1725	408	1	the	the	DET
framr-1725	408	2	journal	journal	NOUN
framr-1725	408	3	of	of	ADP
framr-1725	408	4	finance	finance	NOUN
framr-1725	408	5	,	,	PUNCT
framr-1725	408	6	45(1	45(1	NOUN
framr-1725	408	7	):	):	PUNCT
framr-1725	408	8	221	221	NUM
framr-1725	408	9	-	-	SYM
framr-1725	408	10	229	229	NUM
framr-1725	408	11	.	.	PUNCT
framr-1725	408	12	available	available	ADJ
framr-1725	408	13	at	at	ADP
framr-1725	408	14	:	:	PUNCT
framr-1725	408	15	https://doi.org/10.2307/2328817	https://doi.org/10.2307/2328817	NOUN
framr-1725	408	16	.	.	PUNCT
framr-1725	409	1	louis	louis	PROPN
framr-1725	409	2	,	,	PUNCT
framr-1725	409	3	h.	h.	PROPN
framr-1725	409	4	and	and	CCONJ
framr-1725	409	5	w.	w.	PROPN
framr-1725	409	6	guan	guan	PROPN
framr-1725	409	7	,	,	PUNCT
framr-1725	409	8	2004	2004	NUM
framr-1725	409	9	.	.	PUNCT
framr-1725	410	1	forecasting	forecasting	NOUN
framr-1725	410	2	volatility	volatility	NOUN
framr-1725	410	3	.	.	PUNCT
framr-1725	411	1	available	available	ADJ
framr-1725	411	2	from	from	ADP
framr-1725	411	3	https://ssrn.com/abstract=165528	https://ssrn.com/abstract=165528	NOUN
framr-1725	411	4	or	or	CCONJ
framr-1725	411	5	http://dx.doi.org/10.2139/ssrn.165528	http://dx.doi.org/10.2139/ssrn.165528	X
framr-1725	411	6	.	.	PUNCT
framr-1725	411	7	mats	mat	NOUN
framr-1725	411	8	,	,	PUNCT
framr-1725	411	9	p.	p.	NOUN
framr-1725	411	10	and	and	CCONJ
framr-1725	411	11	b.	b.	PROPN
framr-1725	411	12	viman	viman	NOUN
framr-1725	411	13	,	,	PUNCT
framr-1725	411	14	2005	2005	NUM
framr-1725	411	15	.	.	PUNCT
framr-1725	412	1	forecasting	forecast	VERB
framr-1725	412	2	volatility	volatility	NOUN
framr-1725	412	3	in	in	ADP
framr-1725	412	4	the	the	DET
framr-1725	412	5	swedish	swedish	ADJ
framr-1725	412	6	stock	stock	NOUN
framr-1725	412	7	market	market	NOUN
framr-1725	412	8	.	.	PUNCT
framr-1725	413	1	najand	najand	NOUN
framr-1725	413	2	,	,	PUNCT
framr-1725	413	3	m.	m.	NOUN
framr-1725	413	4	,	,	PUNCT
framr-1725	413	5	2002	2002	NUM
framr-1725	413	6	.	.	PUNCT
framr-1725	414	1	forecasting	forecasting	NOUN
framr-1725	414	2	stock	stock	NOUN
framr-1725	414	3	index	index	NOUN
framr-1725	414	4	futures	future	NOUN
framr-1725	414	5	price	price	NOUN
framr-1725	414	6	volatility	volatility	NOUN
framr-1725	414	7	:	:	PUNCT
framr-1725	414	8	linear	linear	PROPN
framr-1725	414	9	vs.	vs.	ADP
framr-1725	414	10	nonlinear	nonlinear	ADJ
framr-1725	414	11	models	model	NOUN
framr-1725	414	12	.	.	PUNCT
framr-1725	415	1	financial	financial	ADJ
framr-1725	415	2	review	review	PROPN
framr-1725	415	3	,	,	PUNCT
framr-1725	415	4	37(1	37(1	NUM
framr-1725	415	5	):	):	PUNCT
framr-1725	415	6	93	93	NUM
framr-1725	415	7	-	-	SYM
framr-1725	415	8	104	104	NUM
framr-1725	415	9	.	.	PUNCT
framr-1725	415	10	available	available	ADJ
framr-1725	415	11	at	at	ADP
framr-1725	415	12	:	:	PUNCT
framr-1725	415	13	https://doi.org/10.1111/1540-6288.00006	https://doi.org/10.1111/1540-6288.00006	PROPN
framr-1725	415	14	.	.	PUNCT
framr-1725	416	1	nelson	nelson	PROPN
framr-1725	416	2	,	,	PUNCT
framr-1725	416	3	d.b	d.b	PROPN
framr-1725	416	4	.	.	PROPN
framr-1725	416	5	,	,	PUNCT
framr-1725	416	6	1991	1991	NUM
framr-1725	416	7	.	.	PUNCT
framr-1725	417	1	conditional	conditional	ADJ
framr-1725	417	2	heteroskedasticity	heteroskedasticity	NOUN
framr-1725	417	3	in	in	ADP
framr-1725	417	4	asset	asset	NOUN
framr-1725	417	5	returns	return	NOUN
framr-1725	417	6	:	:	PUNCT
framr-1725	417	7	a	a	DET
framr-1725	417	8	new	new	ADJ
framr-1725	417	9	approach	approach	NOUN
framr-1725	417	10	.	.	PUNCT
framr-1725	418	1	econometrica	econometrica	PROPN
framr-1725	418	2	,	,	PUNCT
framr-1725	418	3	59(2	59(2	NUM
framr-1725	418	4	):	):	PUNCT
framr-1725	418	5	347	347	NUM
framr-1725	418	6	-	-	SYM
framr-1725	418	7	370	370	NUM
framr-1725	418	8	.	.	PUNCT
framr-1725	418	9	available	available	ADJ
framr-1725	418	10	at	at	ADP
framr-1725	418	11	:	:	PUNCT
framr-1725	418	12	https://doi.org/10.2307/2938260	https://doi.org/10.2307/2938260	PROPN
framr-1725	418	13	.	.	PUNCT
framr-1725	419	1	pagan	pagan	PROPN
framr-1725	419	2	,	,	PUNCT
framr-1725	419	3	a.r	a.r	PROPN
framr-1725	419	4	.	.	PROPN
framr-1725	419	5	and	and	CCONJ
framr-1725	419	6	g.w	g.w	PROPN
framr-1725	419	7	.	.	PROPN
framr-1725	419	8	schwert	schwert	PROPN
framr-1725	419	9	,	,	PUNCT
framr-1725	419	10	1990	1990	NUM
framr-1725	419	11	.	.	PUNCT
framr-1725	420	1	alternative	alternative	ADJ
framr-1725	420	2	models	model	NOUN
framr-1725	420	3	for	for	ADP
framr-1725	420	4	conditional	conditional	ADJ
framr-1725	420	5	stock	stock	NOUN
framr-1725	420	6	volatility	volatility	NOUN
framr-1725	420	7	.	.	PUNCT
framr-1725	421	1	journal	journal	PROPN
framr-1725	421	2	of	of	ADP
framr-1725	421	3	econometrics	econometric	NOUN
framr-1725	421	4	,	,	PUNCT
framr-1725	421	5	45(1	45(1	NOUN
framr-1725	421	6	-	-	PUNCT
framr-1725	421	7	2	2	NUM
framr-1725	421	8	):	):	PUNCT
framr-1725	421	9	267290	267290	NUM
framr-1725	421	10	.	.	PUNCT
framr-1725	422	1	available	available	ADJ
framr-1725	422	2	at	at	ADP
framr-1725	422	3	:	:	PUNCT
framr-1725	422	4	https://doi.org/10.1016/0304-4076(90)90101-x	https://doi.org/10.1016/0304-4076(90)90101-x	PROPN
framr-1725	422	5	.	.	PUNCT
framr-1725	423	1	http://dx.doi.org/10.2139/ssrn.165528	http://dx.doi.org/10.2139/ssrn.165528	PROPN
framr-1725	423	2	financial	financial	ADJ
framr-1725	423	3	risk	risk	NOUN
framr-1725	423	4	and	and	CCONJ
framr-1725	423	5	management	management	NOUN
framr-1725	423	6	reviews	review	NOUN
framr-1725	423	7	,	,	PUNCT
framr-1725	423	8	2018	2018	NUM
framr-1725	423	9	,	,	PUNCT
framr-1725	423	10	4(1	4(1	NOUN
framr-1725	423	11	):	):	PUNCT
framr-1725	423	12	1	1	NUM
framr-1725	423	13	-	-	SYM
framr-1725	423	14	23	23	NUM
framr-1725	423	15	15	15	NUM
framr-1725	423	16	©	©	PROPN
framr-1725	423	17	2018	2018	NUM
framr-1725	423	18	conscientia	conscientia	PROPN
framr-1725	423	19	beam	beam	PROPN
framr-1725	423	20	.	.	PUNCT
framr-1725	424	1	all	all	DET
framr-1725	424	2	rights	right	NOUN
framr-1725	424	3	reserved	reserve	VERB
framr-1725	424	4	.	.	PUNCT
framr-1725	425	1	palmquist	palmquist	NOUN
framr-1725	425	2	,	,	PUNCT
framr-1725	425	3	m.	m.	NOUN
framr-1725	425	4	and	and	CCONJ
framr-1725	425	5	b.	b.	PROPN
framr-1725	425	6	viman	viman	NOUN
framr-1725	425	7	,	,	PUNCT
framr-1725	425	8	2005	2005	NUM
framr-1725	425	9	.	.	PUNCT
framr-1725	426	1	forecasting	forecast	VERB
framr-1725	426	2	volatility	volatility	NOUN
framr-1725	426	3	in	in	ADP
framr-1725	426	4	the	the	DET
framr-1725	426	5	swedish	swedish	ADJ
framr-1725	426	6	stock	stock	NOUN
framr-1725	426	7	market	market	NOUN
framr-1725	426	8	;	;	PUNCT
framr-1725	426	9	volatility	volatility	NOUN
framr-1725	426	10	modeling	modeling	NOUN
framr-1725	426	11	of	of	ADP
framr-1725	426	12	the	the	DET
framr-1725	426	13	omx	omx	PROPN
framr-1725	426	14	-	-	PUNCT
framr-1725	426	15	index	index	NOUN
framr-1725	426	16	using	use	VERB
framr-1725	426	17	four	four	NUM
framr-1725	426	18	different	different	ADJ
framr-1725	426	19	models	model	NOUN
framr-1725	426	20	.	.	PUNCT
framr-1725	427	1	available	available	ADJ
framr-1725	427	2	from	from	ADP
framr-1725	427	3	www.stat.umu.se/kursweb/vt05/stac05mom3/?download=matsbjorn.pdf	www.stat.umu.se/kursweb/vt05/stac05mom3/?download=matsbjorn.pdf	NOUN
framr-1725	427	4	?	?	PUNCT
framr-1725	428	1	poon	poon	NOUN
framr-1725	428	2	,	,	PUNCT
framr-1725	428	3	s.h	s.h	PROPN
framr-1725	428	4	.	.	PROPN
framr-1725	428	5	,	,	PUNCT
framr-1725	428	6	2005	2005	NUM
framr-1725	428	7	.	.	PUNCT
framr-1725	429	1	a	a	DET
framr-1725	429	2	practical	practical	ADJ
framr-1725	429	3	guide	guide	NOUN
framr-1725	429	4	to	to	ADP
framr-1725	429	5	forecasting	forecast	VERB
framr-1725	429	6	financial	financial	ADJ
framr-1725	429	7	market	market	NOUN
framr-1725	429	8	volatility	volatility	NOUN
framr-1725	429	9	.	.	PUNCT
framr-1725	430	1	chichester	chichester	PROPN
framr-1725	430	2	:	:	PUNCT
framr-1725	430	3	jhon	jhon	PROPN
framr-1725	430	4	wiley	wiley	PROPN
framr-1725	430	5	and	and	CCONJ
framr-1725	430	6	sons	son	NOUN
framr-1725	430	7	,	,	PUNCT
framr-1725	430	8	ltd	ltd	PROPN
framr-1725	430	9	.	.	PROPN
framr-1725	430	10	tsay	tsay	PROPN
framr-1725	430	11	,	,	PUNCT
framr-1725	430	12	r.s	r.s	PROPN
framr-1725	430	13	.	.	PROPN
framr-1725	430	14	,	,	PUNCT
framr-1725	430	15	2005	2005	NUM
framr-1725	430	16	.	.	PUNCT
framr-1725	431	1	analysis	analysis	NOUN
framr-1725	431	2	of	of	ADP
framr-1725	431	3	financial	financial	ADJ
framr-1725	431	4	time	time	NOUN
framr-1725	431	5	series	series	NOUN
framr-1725	431	6	.	.	PUNCT
framr-1725	432	1	2nd	2nd	ADJ
framr-1725	432	2	edn	edn	PROPN
framr-1725	432	3	.	.	PUNCT
framr-1725	432	4	:	:	PUNCT
framr-1725	433	1	john	john	PROPN
framr-1725	433	2	wiley	wiley	PROPN
framr-1725	433	3	&	&	CCONJ
framr-1725	433	4	sons	son	NOUN
framr-1725	433	5	.	.	PUNCT
framr-1725	434	1	tse	tse	PROPN
framr-1725	434	2	,	,	PUNCT
framr-1725	434	3	y.k	y.k	PROPN
framr-1725	434	4	.	.	PROPN
framr-1725	434	5	and	and	CCONJ
framr-1725	434	6	s.h	s.h	PROPN
framr-1725	434	7	.	.	PROPN
framr-1725	434	8	tung	tung	PROPN
framr-1725	434	9	,	,	PUNCT
framr-1725	434	10	1992	1992	NUM
framr-1725	434	11	.	.	PUNCT
framr-1725	435	1	forecasting	forecast	VERB
framr-1725	435	2	volatility	volatility	NOUN
framr-1725	435	3	in	in	ADP
framr-1725	435	4	the	the	DET
framr-1725	435	5	singapore	singapore	PROPN
framr-1725	435	6	stock	stock	NOUN
framr-1725	435	7	market	market	NOUN
framr-1725	435	8	.	.	PUNCT
framr-1725	436	1	asia	asia	PROPN
framr-1725	436	2	pacific	pacific	PROPN
framr-1725	436	3	journal	journal	PROPN
framr-1725	436	4	of	of	ADP
framr-1725	436	5	management	management	NOUN
framr-1725	436	6	,	,	PUNCT
framr-1725	436	7	9(1	9(1	NUM
framr-1725	436	8	):	):	PUNCT
framr-1725	436	9	1	1	NUM
framr-1725	436	10	-	-	SYM
framr-1725	436	11	13	13	NUM
framr-1725	436	12	.	.	PUNCT
framr-1725	437	1	walsh	walsh	PROPN
framr-1725	437	2	,	,	PUNCT
framr-1725	437	3	d.m	d.m	PROPN
framr-1725	437	4	.	.	PROPN
framr-1725	437	5	and	and	CCONJ
framr-1725	437	6	g.y.-g	g.y.-g	PROPN
framr-1725	437	7	.	.	PUNCT
framr-1725	437	8	tsou	tsou	PROPN
framr-1725	437	9	,	,	PUNCT
framr-1725	437	10	1998	1998	NUM
framr-1725	437	11	.	.	PUNCT
framr-1725	438	1	forecasting	forecasting	NOUN
framr-1725	438	2	index	index	NOUN
framr-1725	438	3	volatility	volatility	NOUN
framr-1725	438	4	:	:	PUNCT
framr-1725	438	5	sampling	sample	VERB
framr-1725	438	6	interval	interval	NOUN
framr-1725	438	7	and	and	CCONJ
framr-1725	438	8	non	non	ADJ
framr-1725	438	9	-	-	ADJ
framr-1725	438	10	trading	trading	ADJ
framr-1725	438	11	effects	effect	NOUN
framr-1725	438	12	.	.	PUNCT
framr-1725	439	1	applied	apply	VERB
framr-1725	439	2	financial	financial	ADJ
framr-1725	439	3	economics	economic	NOUN
framr-1725	439	4	,	,	PUNCT
framr-1725	439	5	8(5	8(5	NUM
framr-1725	439	6	):	):	PUNCT
framr-1725	439	7	477	477	NUM
framr-1725	439	8	-	-	SYM
framr-1725	439	9	485	485	NUM
framr-1725	439	10	.	.	PUNCT
framr-1725	439	11	available	available	ADJ
framr-1725	439	12	at	at	ADP
framr-1725	439	13	:	:	PUNCT
framr-1725	439	14	https://doi.org/10.1080/096031098332772	https://doi.org/10.1080/096031098332772	ADJ
framr-1725	439	15	.	.	PUNCT
framr-1725	440	1	ye	ye	PROPN
framr-1725	440	2	-	-	PUNCT
framr-1725	440	3	hsiang	hsiang	PROPN
framr-1725	440	4	,	,	PUNCT
framr-1725	440	5	l.	l.	PROPN
framr-1725	440	6	,	,	PUNCT
framr-1725	440	7	1993	1993	NUM
framr-1725	440	8	.	.	PUNCT
framr-1725	441	1	forecasting	forecast	VERB
framr-1725	441	2	daily	daily	ADJ
framr-1725	441	3	volatility	volatility	NOUN
framr-1725	441	4	of	of	ADP
framr-1725	441	5	foreign	foreign	ADJ
framr-1725	441	6	exchange	exchange	NOUN
framr-1725	441	7	markets	market	NOUN
framr-1725	441	8	:	:	PUNCT
framr-1725	441	9	a	a	DET
framr-1725	441	10	comparison	comparison	NOUN
framr-1725	441	11	of	of	ADP
framr-1725	441	12	the	the	DET
framr-1725	441	13	arch	arch	ADJ
framr-1725	441	14	model	model	NOUN
framr-1725	441	15	and	and	CCONJ
framr-1725	441	16	a	a	DET
framr-1725	441	17	new	new	ADJ
framr-1725	441	18	model	model	NOUN
framr-1725	441	19	using	use	VERB
framr-1725	441	20	high	high	ADJ
framr-1725	441	21	frequency	frequency	NOUN
framr-1725	441	22	data	datum	NOUN
framr-1725	441	23	.	.	PUNCT
framr-1725	442	1	an	an	DET
framr-1725	442	2	unpublished	unpublished	ADJ
framr-1725	442	3	msc	msc	PROPN
framr-1725	442	4	project	project	NOUN
framr-1725	442	5	,	,	PUNCT
framr-1725	442	6	submitted	submit	VERB
framr-1725	442	7	to	to	ADP
framr-1725	442	8	the	the	DET
framr-1725	442	9	sloan	sloan	NOUN
framr-1725	442	10	school	school	NOUN
framr-1725	442	11	of	of	ADP
framr-1725	442	12	management	management	NOUN
framr-1725	442	13	,	,	PUNCT
framr-1725	442	14	mit	mit	PROPN
framr-1725	442	15	,	,	PUNCT
framr-1725	442	16	usa	usa	PROPN
framr-1725	442	17	.	.	PROPN
framr-1725	443	1	pp	pp	CCONJ
framr-1725	443	2	:	:	PUNCT
framr-1725	443	3	1	1	NUM
framr-1725	443	4	-	-	SYM
framr-1725	443	5	33	33	NUM
framr-1725	443	6	.	.	PUNCT
framr-1725	443	7	appendix	appendix	VERB
framr-1725	443	8	4.6	4.6	NUM
framr-1725	443	9	.	.	PUNCT
framr-1725	444	1	forecasting	forecast	VERB
framr-1725	444	2	fig-4.6.1a	fig-4.6.1a	PROPN
framr-1725	444	3	.	.	PUNCT
framr-1725	445	1	a	a	DET
framr-1725	445	2	comparison	comparison	NOUN
framr-1725	445	3	of	of	ADP
framr-1725	445	4	arch	arch	ADJ
framr-1725	445	5	model	model	NOUN
framr-1725	445	6	conditional	conditional	ADJ
framr-1725	445	7	standard	standard	ADJ
framr-1725	445	8	deviation	deviation	NOUN
framr-1725	445	9	of	of	ADP
framr-1725	445	10	dow	dow	PROPN
framr-1725	445	11	jones	jones	PROPN
framr-1725	445	12	industrial	industrial	PROPN
framr-1725	445	13	index	index	NOUN
framr-1725	445	14	returns	return	NOUN
framr-1725	445	15	versus	versus	ADP
framr-1725	445	16	actual	actual	ADJ
framr-1725	445	17	standard	standard	ADJ
framr-1725	445	18	deviation	deviation	NOUN
framr-1725	445	19	(	(	PUNCT
framr-1725	445	20	1989	1989	NUM
framr-1725	445	21	-	-	SYM
framr-1725	445	22	1999	1999	NUM
framr-1725	445	23	)	)	PUNCT
framr-1725	445	24	first	first	ADJ
framr-1725	445	25	subsample	subsample	NOUN
framr-1725	445	26	.	.	PUNCT
framr-1725	446	1	source	source	NOUN
framr-1725	446	2	:	:	PUNCT
framr-1725	446	3	eviews	eviews	PROPN
framr-1725	446	4	’	'	PUNCT
framr-1725	446	5	result	result	VERB
framr-1725	446	6	output	output	NOUN
framr-1725	446	7	http://www.stat.umu.se/kursweb/vt05/stac05mom3/?download=matsbjorn.pdf	http://www.stat.umu.se/kursweb/vt05/stac05mom3/?download=matsbjorn.pdf	NOUN
framr-1725	446	8	?	?	PUNCT
framr-1725	447	1	financial	financial	ADJ
framr-1725	447	2	risk	risk	NOUN
framr-1725	447	3	and	and	CCONJ
framr-1725	447	4	management	management	NOUN
framr-1725	447	5	reviews	review	NOUN
framr-1725	447	6	,	,	PUNCT
framr-1725	447	7	2018	2018	NUM
framr-1725	447	8	,	,	PUNCT
framr-1725	447	9	4(1	4(1	NOUN
framr-1725	447	10	):	):	PUNCT
framr-1725	447	11	1	1	NUM
framr-1725	447	12	-	-	SYM
framr-1725	447	13	23	23	NUM
framr-1725	447	14	16	16	NUM
framr-1725	447	15	©	©	PROPN
framr-1725	447	16	2018	2018	NUM
framr-1725	447	17	conscientia	conscientia	PROPN
framr-1725	447	18	beam	beam	PROPN
framr-1725	447	19	.	.	PUNCT
framr-1725	448	1	all	all	DET
framr-1725	448	2	rights	right	NOUN
framr-1725	448	3	reserved	reserve	VERB
framr-1725	448	4	.	.	PUNCT
framr-1725	449	1	fig-4.6.1b	fig-4.6.1b	PROPN
framr-1725	449	2	.	.	PUNCT
framr-1725	450	1	a	a	DET
framr-1725	450	2	comparison	comparison	NOUN
framr-1725	450	3	of	of	ADP
framr-1725	450	4	garch	garch	NOUN
framr-1725	450	5	model	model	NOUN
framr-1725	450	6	conditional	conditional	ADJ
framr-1725	450	7	standard	standard	ADJ
framr-1725	450	8	deviation	deviation	NOUN
framr-1725	450	9	of	of	ADP
framr-1725	450	10	dow	dow	PROPN
framr-1725	450	11	jones	jones	PROPN
framr-1725	450	12	industrial	industrial	PROPN
framr-1725	450	13	index	index	NOUN
framr-1725	450	14	returns	return	NOUN
framr-1725	450	15	versus	versus	ADP
framr-1725	450	16	actual	actual	ADJ
framr-1725	450	17	standard	standard	ADJ
framr-1725	450	18	deviation	deviation	NOUN
framr-1725	450	19	(	(	PUNCT
framr-1725	450	20	1989	1989	NUM
framr-1725	450	21	-	-	SYM
framr-1725	450	22	1999	1999	NUM
framr-1725	450	23	)	)	PUNCT
framr-1725	450	24	first	first	ADJ
framr-1725	450	25	subsample	subsample	NOUN
framr-1725	450	26	.	.	PUNCT
framr-1725	451	1	source	source	NOUN
framr-1725	451	2	:	:	PUNCT
framr-1725	451	3	eviews	eviews	PROPN
framr-1725	451	4	’	'	PUNCT
framr-1725	451	5	result	result	VERB
framr-1725	451	6	output	output	NOUN
framr-1725	451	7	fig-4.6.1c	fig-4.6.1c	PROPN
framr-1725	451	8	.	.	PUNCT
framr-1725	452	1	a	a	DET
framr-1725	452	2	comparison	comparison	NOUN
framr-1725	452	3	of	of	ADP
framr-1725	452	4	egarch	egarch	NOUN
framr-1725	452	5	model	model	NOUN
framr-1725	452	6	conditional	conditional	ADJ
framr-1725	452	7	standard	standard	ADJ
framr-1725	452	8	deviation	deviation	NOUN
framr-1725	452	9	of	of	ADP
framr-1725	452	10	dow	dow	PROPN
framr-1725	452	11	jones	jones	PROPN
framr-1725	452	12	industrial	industrial	PROPN
framr-1725	452	13	index	index	NOUN
framr-1725	452	14	returns	return	NOUN
framr-1725	452	15	versus	versus	ADP
framr-1725	452	16	actual	actual	ADJ
framr-1725	452	17	standard	standard	ADJ
framr-1725	452	18	deviation	deviation	NOUN
framr-1725	452	19	(	(	PUNCT
framr-1725	452	20	1989	1989	NUM
framr-1725	452	21	-	-	SYM
framr-1725	452	22	1999	1999	NUM
framr-1725	452	23	)	)	PUNCT
framr-1725	452	24	first	first	ADJ
framr-1725	452	25	subsample	subsample	NOUN
framr-1725	452	26	.	.	PUNCT
framr-1725	453	1	source	source	NOUN
framr-1725	453	2	:	:	PUNCT
framr-1725	453	3	eviews	eviews	PROPN
framr-1725	453	4	’	'	PUNCT
framr-1725	453	5	result	result	VERB
framr-1725	453	6	output	output	NOUN
framr-1725	453	7	financial	financial	ADJ
framr-1725	453	8	risk	risk	NOUN
framr-1725	453	9	and	and	CCONJ
framr-1725	453	10	management	management	NOUN
framr-1725	453	11	reviews	review	NOUN
framr-1725	453	12	,	,	PUNCT
framr-1725	453	13	2018	2018	NUM
framr-1725	453	14	,	,	PUNCT
framr-1725	453	15	4(1	4(1	NOUN
framr-1725	453	16	):	):	PUNCT
framr-1725	453	17	1	1	NUM
framr-1725	453	18	-	-	SYM
framr-1725	453	19	23	23	NUM
framr-1725	453	20	17	17	NUM
framr-1725	453	21	©	©	PROPN
framr-1725	453	22	2018	2018	NUM
framr-1725	453	23	conscientia	conscientia	PROPN
framr-1725	453	24	beam	beam	PROPN
framr-1725	453	25	.	.	PUNCT
framr-1725	454	1	all	all	DET
framr-1725	454	2	rights	right	NOUN
framr-1725	454	3	reserved	reserve	VERB
framr-1725	454	4	.	.	PUNCT
framr-1725	455	1	fig-4.6.1d	fig-4.6.1d	PROPN
framr-1725	455	2	.	.	PUNCT
framr-1725	456	1	a	a	DET
framr-1725	456	2	comparison	comparison	NOUN
framr-1725	456	3	of	of	ADP
framr-1725	456	4	arch	arch	ADJ
framr-1725	456	5	model	model	NOUN
framr-1725	456	6	conditional	conditional	ADJ
framr-1725	456	7	standard	standard	ADJ
framr-1725	456	8	deviation	deviation	NOUN
framr-1725	456	9	of	of	ADP
framr-1725	456	10	dow	dow	PROPN
framr-1725	456	11	jones	jones	PROPN
framr-1725	456	12	industrial	industrial	PROPN
framr-1725	456	13	index	index	NOUN
framr-1725	456	14	returns	return	NOUN
framr-1725	456	15	versus	versus	ADP
framr-1725	456	16	actual	actual	ADJ
framr-1725	456	17	standard	standard	ADJ
framr-1725	456	18	deviation	deviation	NOUN
framr-1725	456	19	(	(	PUNCT
framr-1725	456	20	1999	1999	NUM
framr-1725	456	21	-	-	SYM
framr-1725	456	22	2009	2009	NUM
framr-1725	456	23	)	)	PUNCT
framr-1725	456	24	second	second	ADJ
framr-1725	456	25	subsample	subsample	NOUN
framr-1725	456	26	.	.	PUNCT
framr-1725	457	1	source	source	NOUN
framr-1725	457	2	:	:	PUNCT
framr-1725	457	3	eviews	eviews	PROPN
framr-1725	457	4	’	'	PUNCT
framr-1725	457	5	result	result	VERB
framr-1725	457	6	output	output	NOUN
framr-1725	457	7	fig	fig	NOUN
framr-1725	457	8	4.6.1e	4.6.1e	NUM
framr-1725	457	9	;	;	PUNCT
framr-1725	457	10	a	a	DET
framr-1725	457	11	comparison	comparison	NOUN
framr-1725	457	12	of	of	ADP
framr-1725	457	13	garch	garch	NOUN
framr-1725	457	14	model	model	NOUN
framr-1725	457	15	conditional	conditional	ADJ
framr-1725	457	16	standard	standard	ADJ
framr-1725	457	17	deviation	deviation	NOUN
framr-1725	457	18	of	of	ADP
framr-1725	457	19	dow	dow	PROPN
framr-1725	457	20	jones	jones	PROPN
framr-1725	457	21	industrial	industrial	PROPN
framr-1725	457	22	index	index	NOUN
framr-1725	457	23	returns	return	NOUN
framr-1725	457	24	versus	versus	ADP
framr-1725	457	25	actual	actual	ADJ
framr-1725	457	26	standard	standard	ADJ
framr-1725	457	27	deviation	deviation	NOUN
framr-1725	457	28	(	(	PUNCT
framr-1725	457	29	1999	1999	NUM
framr-1725	457	30	-	-	SYM
framr-1725	457	31	2009	2009	NUM
framr-1725	457	32	)	)	PUNCT
framr-1725	457	33	second	second	ADJ
framr-1725	457	34	subsample	subsample	NOUN
framr-1725	457	35	.	.	PUNCT
framr-1725	458	1	source	source	NOUN
framr-1725	458	2	:	:	PUNCT
framr-1725	458	3	eviews	eviews	PROPN
framr-1725	458	4	’	'	PUNCT
framr-1725	458	5	result	result	PROPN
framr-1725	458	6	output	output	NOUN
framr-1725	458	7	fig-4.6.1f	fig-4.6.1f	PROPN
framr-1725	458	8	.	.	PUNCT
framr-1725	459	1	a	a	DET
framr-1725	459	2	comparison	comparison	NOUN
framr-1725	459	3	of	of	ADP
framr-1725	459	4	egarch	egarch	NOUN
framr-1725	459	5	model	model	NOUN
framr-1725	459	6	conditional	conditional	ADJ
framr-1725	459	7	standard	standard	ADJ
framr-1725	459	8	deviation	deviation	NOUN
framr-1725	459	9	of	of	ADP
framr-1725	459	10	dow	dow	PROPN
framr-1725	459	11	jones	jones	PROPN
framr-1725	459	12	industrial	industrial	PROPN
framr-1725	459	13	index	index	NOUN
framr-1725	459	14	returns	return	NOUN
framr-1725	459	15	versus	versus	ADP
framr-1725	459	16	actual	actual	ADJ
framr-1725	459	17	standard	standard	ADJ
framr-1725	459	18	deviation	deviation	NOUN
framr-1725	459	19	(	(	PUNCT
framr-1725	459	20	1999	1999	NUM
framr-1725	459	21	-	-	SYM
framr-1725	459	22	2009	2009	NUM
framr-1725	459	23	)	)	PUNCT
framr-1725	459	24	second	second	ADJ
framr-1725	459	25	subsample	subsample	NOUN
framr-1725	459	26	.	.	PUNCT
framr-1725	460	1	source	source	NOUN
framr-1725	460	2	:	:	PUNCT
framr-1725	460	3	eviews	eviews	PROPN
framr-1725	460	4	’	'	PUNCT
framr-1725	460	5	result	result	VERB
framr-1725	460	6	output	output	NOUN
framr-1725	460	7	financial	financial	ADJ
framr-1725	460	8	risk	risk	NOUN
framr-1725	460	9	and	and	CCONJ
framr-1725	460	10	management	management	NOUN
framr-1725	460	11	reviews	review	NOUN
framr-1725	460	12	,	,	PUNCT
framr-1725	460	13	2018	2018	NUM
framr-1725	460	14	,	,	PUNCT
framr-1725	460	15	4(1	4(1	NOUN
framr-1725	460	16	):	):	PUNCT
framr-1725	460	17	1	1	NUM
framr-1725	460	18	-	-	SYM
framr-1725	460	19	23	23	NUM
framr-1725	460	20	18	18	NUM
framr-1725	460	21	©	©	PROPN
framr-1725	460	22	2018	2018	NUM
framr-1725	460	23	conscientia	conscientia	PROPN
framr-1725	460	24	beam	beam	PROPN
framr-1725	460	25	.	.	PUNCT
framr-1725	461	1	all	all	DET
framr-1725	461	2	rights	right	NOUN
framr-1725	461	3	reserved	reserve	VERB
framr-1725	461	4	.	.	PUNCT
framr-1725	462	1	fig-4.6.1	fig-4.6.1	PROPN
framr-1725	462	2	g.	g.	NOUN
framr-1725	462	3	a	a	DET
framr-1725	462	4	comparison	comparison	NOUN
framr-1725	462	5	of	of	ADP
framr-1725	462	6	arch	arch	ADJ
framr-1725	462	7	model	model	NOUN
framr-1725	462	8	conditional	conditional	ADJ
framr-1725	462	9	standard	standard	ADJ
framr-1725	462	10	deviation	deviation	NOUN
framr-1725	462	11	of	of	ADP
framr-1725	462	12	ftse	ftse	PROPN
framr-1725	462	13	100	100	NUM
framr-1725	462	14	index	index	NOUN
framr-1725	462	15	returns	return	NOUN
framr-1725	462	16	versus	versus	ADP
framr-1725	462	17	actual	actual	ADJ
framr-1725	462	18	standard	standard	ADJ
framr-1725	462	19	deviation	deviation	NOUN
framr-1725	462	20	(	(	PUNCT
framr-1725	462	21	19891999	19891999	NUM
framr-1725	462	22	)	)	PUNCT
framr-1725	462	23	first	first	ADJ
framr-1725	462	24	subsample	subsample	NOUN
framr-1725	462	25	.	.	PUNCT
framr-1725	463	1	source	source	NOUN
framr-1725	463	2	:	:	PUNCT
framr-1725	463	3	eviews	eviews	PROPN
framr-1725	463	4	’	'	PUNCT
framr-1725	463	5	result	result	PROPN
framr-1725	463	6	output	output	NOUN
framr-1725	463	7	fig-4.6.1h	fig-4.6.1h	PROPN
framr-1725	463	8	.	.	PUNCT
framr-1725	464	1	a	a	DET
framr-1725	464	2	comparison	comparison	NOUN
framr-1725	464	3	of	of	ADP
framr-1725	464	4	garch	garch	NOUN
framr-1725	464	5	model	model	NOUN
framr-1725	464	6	conditional	conditional	ADJ
framr-1725	464	7	standard	standard	ADJ
framr-1725	464	8	deviation	deviation	NOUN
framr-1725	464	9	of	of	ADP
framr-1725	464	10	ftse	ftse	PROPN
framr-1725	464	11	100	100	NUM
framr-1725	464	12	index	index	NOUN
framr-1725	464	13	returns	return	NOUN
framr-1725	464	14	versus	versus	ADP
framr-1725	464	15	actual	actual	ADJ
framr-1725	464	16	standard	standard	ADJ
framr-1725	464	17	deviation	deviation	NOUN
framr-1725	464	18	(	(	PUNCT
framr-1725	464	19	19891999	19891999	NUM
framr-1725	464	20	)	)	PUNCT
framr-1725	464	21	first	first	ADJ
framr-1725	464	22	subsample	subsample	NOUN
framr-1725	464	23	.	.	PUNCT
framr-1725	465	1	source	source	NOUN
framr-1725	465	2	:	:	PUNCT
framr-1725	465	3	eviews	eviews	PROPN
framr-1725	465	4	’	'	PUNCT
framr-1725	465	5	result	result	VERB
framr-1725	465	6	output	output	NOUN
framr-1725	465	7	fig-4.6.1i	fig-4.6.1i	NOUN
framr-1725	465	8	.	.	PUNCT
framr-1725	466	1	a	a	DET
framr-1725	466	2	comparison	comparison	NOUN
framr-1725	466	3	of	of	ADP
framr-1725	466	4	egarch	egarch	NOUN
framr-1725	466	5	model	model	NOUN
framr-1725	466	6	conditional	conditional	ADJ
framr-1725	466	7	standard	standard	ADJ
framr-1725	466	8	deviation	deviation	NOUN
framr-1725	466	9	of	of	ADP
framr-1725	466	10	ftse	ftse	PROPN
framr-1725	466	11	100	100	NUM
framr-1725	466	12	index	index	NOUN
framr-1725	466	13	returns	return	NOUN
framr-1725	466	14	versus	versus	ADP
framr-1725	466	15	actual	actual	ADJ
framr-1725	466	16	standard	standard	ADJ
framr-1725	466	17	deviation	deviation	NOUN
framr-1725	466	18	(	(	PUNCT
framr-1725	466	19	1989	1989	NUM
framr-1725	466	20	-	-	SYM
framr-1725	466	21	1999	1999	NUM
framr-1725	466	22	)	)	PUNCT
framr-1725	466	23	first	first	ADJ
framr-1725	466	24	subsample	subsample	ADJ
framr-1725	466	25	source	source	NOUN
framr-1725	466	26	:	:	PUNCT
framr-1725	466	27	eviews	eviews	PROPN
framr-1725	466	28	’	'	PUNCT
framr-1725	466	29	result	result	VERB
framr-1725	466	30	output	output	NOUN
framr-1725	466	31	financial	financial	ADJ
framr-1725	466	32	risk	risk	NOUN
framr-1725	466	33	and	and	CCONJ
framr-1725	466	34	management	management	NOUN
framr-1725	466	35	reviews	review	NOUN
framr-1725	466	36	,	,	PUNCT
framr-1725	466	37	2018	2018	NUM
framr-1725	466	38	,	,	PUNCT
framr-1725	466	39	4(1	4(1	NOUN
framr-1725	466	40	):	):	PUNCT
framr-1725	466	41	1	1	NUM
framr-1725	466	42	-	-	SYM
framr-1725	466	43	23	23	NUM
framr-1725	466	44	19	19	NUM
framr-1725	466	45	©	©	PROPN
framr-1725	466	46	2018	2018	NUM
framr-1725	466	47	conscientia	conscientia	PROPN
framr-1725	466	48	beam	beam	PROPN
framr-1725	466	49	.	.	PUNCT
framr-1725	467	1	all	all	DET
framr-1725	467	2	rights	right	NOUN
framr-1725	467	3	reserved	reserve	VERB
framr-1725	467	4	.	.	PUNCT
framr-1725	468	1	fig-4.6.1j	fig-4.6.1j	PROPN
framr-1725	468	2	.	.	PUNCT
framr-1725	469	1	a	a	DET
framr-1725	469	2	comparison	comparison	NOUN
framr-1725	469	3	of	of	ADP
framr-1725	469	4	arch	arch	ADJ
framr-1725	469	5	model	model	NOUN
framr-1725	469	6	conditional	conditional	ADJ
framr-1725	469	7	standard	standard	ADJ
framr-1725	469	8	deviation	deviation	NOUN
framr-1725	469	9	of	of	ADP
framr-1725	469	10	ftse	ftse	PROPN
framr-1725	469	11	100	100	NUM
framr-1725	469	12	index	index	NOUN
framr-1725	469	13	returns	return	NOUN
framr-1725	469	14	versus	versus	ADP
framr-1725	469	15	actual	actual	ADJ
framr-1725	469	16	standard	standard	ADJ
framr-1725	469	17	deviation	deviation	NOUN
framr-1725	469	18	(	(	PUNCT
framr-1725	469	19	19992009	19992009	NUM
framr-1725	469	20	)	)	PUNCT
framr-1725	469	21	second	second	ADJ
framr-1725	469	22	subsample	subsample	NOUN
framr-1725	469	23	.	.	PUNCT
framr-1725	470	1	source	source	NOUN
framr-1725	470	2	:	:	PUNCT
framr-1725	470	3	eviews	eviews	PROPN
framr-1725	470	4	’	'	PUNCT
framr-1725	470	5	result	result	PROPN
framr-1725	470	6	output	output	NOUN
framr-1725	470	7	fig-4.6.1k	fig-4.6.1k	NOUN
framr-1725	470	8	.	.	PUNCT
framr-1725	471	1	a	a	DET
framr-1725	471	2	comparison	comparison	NOUN
framr-1725	471	3	of	of	ADP
framr-1725	471	4	garch	garch	NOUN
framr-1725	471	5	model	model	NOUN
framr-1725	471	6	conditional	conditional	ADJ
framr-1725	471	7	standard	standard	ADJ
framr-1725	471	8	deviation	deviation	NOUN
framr-1725	471	9	of	of	ADP
framr-1725	471	10	ftse	ftse	PROPN
framr-1725	471	11	100	100	NUM
framr-1725	471	12	index	index	NOUN
framr-1725	471	13	returns	return	NOUN
framr-1725	471	14	versus	versus	ADP
framr-1725	471	15	actual	actual	ADJ
framr-1725	471	16	standard	standard	ADJ
framr-1725	471	17	deviation	deviation	NOUN
framr-1725	471	18	(	(	PUNCT
framr-1725	471	19	19992009	19992009	NUM
framr-1725	471	20	)	)	PUNCT
framr-1725	471	21	second	second	ADJ
framr-1725	471	22	subsample	subsample	NOUN
framr-1725	471	23	.	.	PUNCT
framr-1725	472	1	source	source	NOUN
framr-1725	472	2	:	:	PUNCT
framr-1725	472	3	eviews	eviews	PROPN
framr-1725	472	4	’	'	PUNCT
framr-1725	472	5	result	result	VERB
framr-1725	472	6	output	output	NOUN
framr-1725	472	7	fig-4.6.1l	fig-4.6.1l	NOUN
framr-1725	472	8	.	.	PUNCT
framr-1725	473	1	a	a	DET
framr-1725	473	2	comparison	comparison	NOUN
framr-1725	473	3	of	of	ADP
framr-1725	473	4	egarch	egarch	NOUN
framr-1725	473	5	model	model	NOUN
framr-1725	473	6	conditional	conditional	ADJ
framr-1725	473	7	standard	standard	ADJ
framr-1725	473	8	deviation	deviation	NOUN
framr-1725	473	9	of	of	ADP
framr-1725	473	10	ftse	ftse	PROPN
framr-1725	473	11	100	100	NUM
framr-1725	473	12	index	index	NOUN
framr-1725	473	13	returns	return	NOUN
framr-1725	473	14	versus	versus	ADP
framr-1725	473	15	actual	actual	ADJ
framr-1725	473	16	standard	standard	ADJ
framr-1725	473	17	deviation	deviation	NOUN
framr-1725	473	18	(	(	PUNCT
framr-1725	473	19	1999	1999	NUM
framr-1725	473	20	-	-	SYM
framr-1725	473	21	2009	2009	NUM
framr-1725	473	22	)	)	PUNCT
framr-1725	473	23	second	second	ADJ
framr-1725	473	24	subsample	subsample	NOUN
framr-1725	473	25	.	.	PUNCT
framr-1725	474	1	source	source	NOUN
framr-1725	474	2	:	:	PUNCT
framr-1725	474	3	eviews	eviews	PROPN
framr-1725	474	4	’	'	PUNCT
framr-1725	474	5	result	result	VERB
framr-1725	474	6	output	output	NOUN
framr-1725	474	7	financial	financial	ADJ
framr-1725	474	8	risk	risk	NOUN
framr-1725	474	9	and	and	CCONJ
framr-1725	474	10	management	management	NOUN
framr-1725	474	11	reviews	review	NOUN
framr-1725	474	12	,	,	PUNCT
framr-1725	474	13	2018	2018	NUM
framr-1725	474	14	,	,	PUNCT
framr-1725	474	15	4(1	4(1	NOUN
framr-1725	474	16	):	):	PUNCT
framr-1725	474	17	1	1	NUM
framr-1725	474	18	-	-	SYM
framr-1725	474	19	23	23	NUM
framr-1725	474	20	20	20	NUM
framr-1725	474	21	©	©	PROPN
framr-1725	474	22	2018	2018	NUM
framr-1725	474	23	conscientia	conscientia	PROPN
framr-1725	474	24	beam	beam	PROPN
framr-1725	474	25	.	.	PUNCT
framr-1725	475	1	all	all	DET
framr-1725	475	2	rights	right	NOUN
framr-1725	475	3	reserved	reserve	VERB
framr-1725	475	4	.	.	PUNCT
framr-1725	476	1	fig-4.6.1	fig-4.6.1	ADJ
framr-1725	476	2	m.	m.	NOUN
framr-1725	476	3	a	a	DET
framr-1725	476	4	comparison	comparison	NOUN
framr-1725	476	5	of	of	ADP
framr-1725	476	6	arch	arch	ADJ
framr-1725	476	7	model	model	NOUN
framr-1725	476	8	conditional	conditional	ADJ
framr-1725	476	9	standard	standard	ADJ
framr-1725	476	10	deviation	deviation	NOUN
framr-1725	476	11	of	of	ADP
framr-1725	476	12	nikkei	nikkei	PROPN
framr-1725	476	13	225	225	NUM
framr-1725	476	14	index	index	NOUN
framr-1725	476	15	returns	return	NOUN
framr-1725	476	16	versus	versus	ADP
framr-1725	476	17	actual	actual	ADJ
framr-1725	476	18	standard	standard	ADJ
framr-1725	476	19	deviation	deviation	NOUN
framr-1725	476	20	(	(	PUNCT
framr-1725	476	21	19891999	19891999	NUM
framr-1725	476	22	)	)	PUNCT
framr-1725	476	23	first	first	ADJ
framr-1725	476	24	subsample	subsample	NOUN
framr-1725	476	25	.	.	PUNCT
framr-1725	477	1	source	source	NOUN
framr-1725	477	2	:	:	PUNCT
framr-1725	477	3	eviews	eviews	PROPN
framr-1725	477	4	’	'	PUNCT
framr-1725	477	5	result	result	VERB
framr-1725	477	6	output	output	NOUN
framr-1725	477	7	fig-4.6.1n	fig-4.6.1n	NOUN
framr-1725	477	8	.	.	PUNCT
framr-1725	478	1	a	a	DET
framr-1725	478	2	comparison	comparison	NOUN
framr-1725	478	3	of	of	ADP
framr-1725	478	4	garch	garch	NOUN
framr-1725	478	5	model	model	NOUN
framr-1725	478	6	conditional	conditional	ADJ
framr-1725	478	7	standard	standard	ADJ
framr-1725	478	8	deviation	deviation	NOUN
framr-1725	478	9	of	of	ADP
framr-1725	478	10	nikkei	nikkei	PROPN
framr-1725	478	11	225	225	NUM
framr-1725	478	12	index	index	NOUN
framr-1725	478	13	returns	return	NOUN
framr-1725	478	14	versus	versus	ADP
framr-1725	478	15	actual	actual	ADJ
framr-1725	478	16	standard	standard	ADJ
framr-1725	478	17	deviation	deviation	NOUN
framr-1725	478	18	(	(	PUNCT
framr-1725	478	19	1989	1989	NUM
framr-1725	478	20	-	-	SYM
framr-1725	478	21	1999	1999	NUM
framr-1725	478	22	)	)	PUNCT
framr-1725	478	23	first	first	ADJ
framr-1725	478	24	subsample	subsample	NOUN
framr-1725	478	25	.	.	PUNCT
framr-1725	479	1	source	source	NOUN
framr-1725	479	2	:	:	PUNCT
framr-1725	479	3	eviews	eviews	PROPN
framr-1725	479	4	’	'	PUNCT
framr-1725	479	5	result	result	VERB
framr-1725	479	6	output	output	NOUN
framr-1725	479	7	fig-4.6.1o	fig-4.6.1o	PROPN
framr-1725	479	8	.	.	PUNCT
framr-1725	480	1	a	a	DET
framr-1725	480	2	comparison	comparison	NOUN
framr-1725	480	3	of	of	ADP
framr-1725	480	4	egarch	egarch	NOUN
framr-1725	480	5	model	model	NOUN
framr-1725	480	6	conditional	conditional	ADJ
framr-1725	480	7	standard	standard	ADJ
framr-1725	480	8	deviation	deviation	NOUN
framr-1725	480	9	of	of	ADP
framr-1725	480	10	nikkei	nikkei	PROPN
framr-1725	480	11	225	225	NUM
framr-1725	480	12	index	index	NOUN
framr-1725	480	13	returns	return	NOUN
framr-1725	480	14	versus	versus	ADP
framr-1725	480	15	actual	actual	ADJ
framr-1725	480	16	standard	standard	ADJ
framr-1725	480	17	deviation	deviation	NOUN
framr-1725	480	18	(	(	PUNCT
framr-1725	480	19	1989	1989	NUM
framr-1725	480	20	-	-	SYM
framr-1725	480	21	1999	1999	NUM
framr-1725	480	22	)	)	PUNCT
framr-1725	480	23	first	first	ADJ
framr-1725	480	24	subsample	subsample	NOUN
framr-1725	480	25	.	.	PUNCT
framr-1725	481	1	source	source	NOUN
framr-1725	481	2	:	:	PUNCT
framr-1725	481	3	eviews	eviews	PROPN
framr-1725	481	4	’	'	PUNCT
framr-1725	481	5	result	result	VERB
framr-1725	481	6	output	output	NOUN
framr-1725	481	7	financial	financial	ADJ
framr-1725	481	8	risk	risk	NOUN
framr-1725	481	9	and	and	CCONJ
framr-1725	481	10	management	management	NOUN
framr-1725	481	11	reviews	review	NOUN
framr-1725	481	12	,	,	PUNCT
framr-1725	481	13	2018	2018	NUM
framr-1725	481	14	,	,	PUNCT
framr-1725	481	15	4(1	4(1	NOUN
framr-1725	481	16	):	):	PUNCT
framr-1725	481	17	1	1	NUM
framr-1725	481	18	-	-	SYM
framr-1725	481	19	23	23	NUM
framr-1725	481	20	21	21	NUM
framr-1725	481	21	©	©	PROPN
framr-1725	481	22	2018	2018	NUM
framr-1725	481	23	conscientia	conscientia	PROPN
framr-1725	481	24	beam	beam	PROPN
framr-1725	481	25	.	.	PUNCT
framr-1725	482	1	all	all	DET
framr-1725	482	2	rights	right	NOUN
framr-1725	482	3	reserved	reserve	VERB
framr-1725	482	4	.	.	PUNCT
framr-1725	483	1	fig-4.6.1p	fig-4.6.1p	NOUN
framr-1725	483	2	.	.	PUNCT
framr-1725	484	1	a	a	DET
framr-1725	484	2	comparison	comparison	NOUN
framr-1725	484	3	of	of	ADP
framr-1725	484	4	arch	arch	ADJ
framr-1725	484	5	model	model	NOUN
framr-1725	484	6	conditional	conditional	ADJ
framr-1725	484	7	standard	standard	ADJ
framr-1725	484	8	deviation	deviation	NOUN
framr-1725	484	9	of	of	ADP
framr-1725	484	10	nikkei	nikkei	PROPN
framr-1725	484	11	225	225	NUM
framr-1725	484	12	index	index	NOUN
framr-1725	484	13	returns	return	NOUN
framr-1725	484	14	versus	versus	ADP
framr-1725	484	15	actual	actual	ADJ
framr-1725	484	16	standard	standard	ADJ
framr-1725	484	17	deviation	deviation	NOUN
framr-1725	484	18	(	(	PUNCT
framr-1725	484	19	19992009	19992009	NUM
framr-1725	484	20	)	)	PUNCT
framr-1725	484	21	second	second	ADJ
framr-1725	484	22	subsample	subsample	NOUN
framr-1725	484	23	.	.	PUNCT
framr-1725	485	1	source	source	NOUN
framr-1725	485	2	:	:	PUNCT
framr-1725	485	3	eviews	eviews	PROPN
framr-1725	485	4	’	'	PUNCT
framr-1725	485	5	result	result	VERB
framr-1725	485	6	output	output	NOUN
framr-1725	485	7	fig-4.6.1q	fig-4.6.1q	PROPN
framr-1725	485	8	.	.	PUNCT
framr-1725	486	1	a	a	DET
framr-1725	486	2	comparison	comparison	NOUN
framr-1725	486	3	of	of	ADP
framr-1725	486	4	garch	garch	NOUN
framr-1725	486	5	model	model	NOUN
framr-1725	486	6	conditional	conditional	ADJ
framr-1725	486	7	standard	standard	ADJ
framr-1725	486	8	deviation	deviation	NOUN
framr-1725	486	9	of	of	ADP
framr-1725	486	10	nikkei	nikkei	PROPN
framr-1725	486	11	225	225	NUM
framr-1725	486	12	index	index	NOUN
framr-1725	486	13	returns	return	NOUN
framr-1725	486	14	versus	versus	ADP
framr-1725	486	15	actual	actual	ADJ
framr-1725	486	16	standard	standard	ADJ
framr-1725	486	17	deviation	deviation	NOUN
framr-1725	486	18	(	(	PUNCT
framr-1725	486	19	1999	1999	NUM
framr-1725	486	20	-	-	SYM
framr-1725	486	21	2009	2009	NUM
framr-1725	486	22	)	)	PUNCT
framr-1725	486	23	second	second	ADJ
framr-1725	486	24	subsample	subsample	NOUN
framr-1725	486	25	.	.	PUNCT
framr-1725	487	1	source	source	NOUN
framr-1725	487	2	:	:	PUNCT
framr-1725	487	3	eviews	eviews	PROPN
framr-1725	487	4	’	'	PUNCT
framr-1725	487	5	result	result	PROPN
framr-1725	487	6	output	output	PROPN
framr-1725	487	7	fig-4.6.1r	fig-4.6.1r	PROPN
framr-1725	487	8	.	.	PUNCT
framr-1725	488	1	a	a	DET
framr-1725	488	2	comparison	comparison	NOUN
framr-1725	488	3	of	of	ADP
framr-1725	488	4	egarch	egarch	NOUN
framr-1725	488	5	model	model	NOUN
framr-1725	488	6	conditional	conditional	ADJ
framr-1725	488	7	standard	standard	ADJ
framr-1725	488	8	deviation	deviation	NOUN
framr-1725	488	9	of	of	ADP
framr-1725	488	10	nikkei	nikkei	PROPN
framr-1725	488	11	225	225	NUM
framr-1725	488	12	index	index	NOUN
framr-1725	488	13	returns	return	NOUN
framr-1725	488	14	versus	versus	ADP
framr-1725	488	15	actual	actual	ADJ
framr-1725	488	16	standard	standard	ADJ
framr-1725	488	17	deviation	deviation	NOUN
framr-1725	488	18	(	(	PUNCT
framr-1725	488	19	1999	1999	NUM
framr-1725	488	20	-	-	SYM
framr-1725	488	21	2009	2009	NUM
framr-1725	488	22	)	)	PUNCT
framr-1725	488	23	second	second	ADJ
framr-1725	488	24	subsample	subsample	NOUN
framr-1725	488	25	.	.	PUNCT
framr-1725	489	1	source	source	NOUN
framr-1725	489	2	:	:	PUNCT
framr-1725	489	3	eviews	eviews	PROPN
framr-1725	489	4	’	'	PUNCT
framr-1725	489	5	result	result	VERB
framr-1725	489	6	output	output	NOUN
framr-1725	489	7	financial	financial	ADJ
framr-1725	489	8	risk	risk	NOUN
framr-1725	489	9	and	and	CCONJ
framr-1725	489	10	management	management	NOUN
framr-1725	489	11	reviews	review	NOUN
framr-1725	489	12	,	,	PUNCT
framr-1725	489	13	2018	2018	NUM
framr-1725	489	14	,	,	PUNCT
framr-1725	489	15	4(1	4(1	NOUN
framr-1725	489	16	):	):	PUNCT
framr-1725	489	17	1	1	NUM
framr-1725	489	18	-	-	SYM
framr-1725	489	19	23	23	NUM
framr-1725	489	20	22	22	NUM
framr-1725	489	21	©	©	PROPN
framr-1725	489	22	2018	2018	NUM
framr-1725	489	23	conscientia	conscientia	PROPN
framr-1725	489	24	beam	beam	PROPN
framr-1725	489	25	.	.	PUNCT
framr-1725	490	1	all	all	DET
framr-1725	490	2	rights	right	NOUN
framr-1725	490	3	reserved	reserve	VERB
framr-1725	490	4	.	.	PUNCT
framr-1725	491	1	4.7	4.7	NUM
framr-1725	491	2	.	.	PUNCT
framr-1725	491	3	forecast	forecast	NOUN
framr-1725	491	4	evaluation	evaluation	NOUN
framr-1725	491	5	table-4.7.1a	table-4.7.1a	NOUN
framr-1725	491	6	.	.	PUNCT
framr-1725	492	1	in	in	ADP
framr-1725	492	2	sample	sample	NOUN
framr-1725	492	3	forecast	forecast	NOUN
framr-1725	492	4	evaluation	evaluation	NOUN
framr-1725	492	5	values	value	NOUN
framr-1725	492	6	.	.	PUNCT
framr-1725	493	1	dj	dj	X
framr-1725	493	2	-	-	PUNCT
framr-1725	493	3	indus	indus	NOUN
framr-1725	493	4	first	first	ADJ
framr-1725	493	5	sub	sub	NOUN
framr-1725	493	6	sample	sample	NOUN
framr-1725	493	7	(	(	PUNCT
framr-1725	493	8	in	in	ADP
framr-1725	493	9	sample	sample	NOUN
framr-1725	493	10	forecast	forecast	NOUN
framr-1725	493	11	)	)	PUNCT
framr-1725	493	12	mean	mean	VERB
framr-1725	493	13	error	error	NOUN
framr-1725	493	14	root	root	NOUN
framr-1725	493	15	mean	mean	VERB
framr-1725	493	16	square	square	ADJ
framr-1725	493	17	error	error	NOUN
framr-1725	493	18	mean	mean	VERB
framr-1725	493	19	absolute	absolute	ADJ
framr-1725	493	20	error	error	NOUN
framr-1725	493	21	mean	mean	VERB
framr-1725	493	22	absolute	absolute	ADJ
framr-1725	493	23	percentage	percentage	NOUN
framr-1725	493	24	error	error	NOUN
framr-1725	493	25	arch	arch	VERB
framr-1725	493	26	0.001010918	0.001010918	NUM
framr-1725	493	27	0.004470646	0.004470646	NUM
framr-1725	493	28	0.003201589	0.003201589	NUM
framr-1725	493	29	0.367176116	0.367176116	NUM
framr-1725	493	30	garch	garch	NOUN
framr-1725	493	31	0.00967646	0.00967646	NUM
framr-1725	493	32	0.00444766	0.00444766	NUM
framr-1725	493	33	0.00315545	0.00315545	NUM
framr-1725	493	34	0.114862607	0.114862607	NUM
framr-1725	493	35	egarch	egarch	NOUN
framr-1725	493	36	0.001077527	0.001077527	NUM
framr-1725	493	37	0.004465665	0.004465665	NUM
framr-1725	493	38	0.003189905	0.003189905	NUM
framr-1725	493	39	0.125018067	0.125018067	NUM
framr-1725	493	40	dj	dj	NOUN
framr-1725	493	41	-	-	PUNCT
framr-1725	493	42	indus	indus	NOUN
framr-1725	493	43	second	second	ADJ
framr-1725	493	44	sub	sub	NOUN
framr-1725	493	45	sample	sample	NOUN
framr-1725	493	46	(	(	PUNCT
framr-1725	493	47	in	in	ADP
framr-1725	493	48	sample	sample	NOUN
framr-1725	493	49	forecast	forecast	NOUN
framr-1725	493	50	)	)	PUNCT
framr-1725	493	51	mean	mean	VERB
framr-1725	493	52	error	error	NOUN
framr-1725	493	53	root	root	NOUN
framr-1725	493	54	mean	mean	VERB
framr-1725	493	55	square	square	ADJ
framr-1725	493	56	error	error	NOUN
framr-1725	493	57	mean	mean	VERB
framr-1725	493	58	absolute	absolute	ADJ
framr-1725	493	59	error	error	NOUN
framr-1725	493	60	mean	mean	VERB
framr-1725	493	61	absolute	absolute	ADJ
framr-1725	493	62	percentage	percentage	NOUN
framr-1725	493	63	error	error	NOUN
framr-1725	493	64	arch	arch	VERB
framr-1725	493	65	0.002107113	0.002107113	NUM
framr-1725	493	66	0.007660924	0.007660924	NUM
framr-1725	493	67	0.005507428	0.005507428	NUM
framr-1725	493	68	0.422727826	0.422727826	NUM
framr-1725	493	69	garch	garch	NOUN
framr-1725	493	70	0.002052513	0.002052513	NUM
framr-1725	494	1	0.007457126	0.007457126	NUM
framr-1725	494	2	0.005271119	0.005271119	NUM
framr-1725	494	3	0.403523888	0.403523888	NUM
framr-1725	494	4	egarch	egarch	NOUN
framr-1725	494	5	0.00062735	0.00062735	NUM
framr-1725	494	6	0.007178554	0.007178554	NUM
framr-1725	494	7	0.004690626	0.004690626	NUM
framr-1725	494	8	0.424726446	0.424726446	NUM
framr-1725	494	9	notes	note	NOUN
framr-1725	494	10	:	:	PUNCT
framr-1725	494	11	values	value	NOUN
framr-1725	494	12	on	on	ADP
framr-1725	494	13	bold	bold	ADJ
framr-1725	494	14	represents	represent	VERB
framr-1725	494	15	values	value	NOUN
framr-1725	494	16	with	with	ADP
framr-1725	494	17	lowest	low	ADJ
framr-1725	494	18	errors	error	NOUN
framr-1725	494	19	.	.	PUNCT
framr-1725	495	1	table	table	NOUN
framr-1725	495	2	4.7.1b	4.7.1b	PROPN
framr-1725	495	3	.	.	PUNCT
framr-1725	496	1	in	in	ADP
framr-1725	496	2	sample	sample	NOUN
framr-1725	496	3	forecast	forecast	NOUN
framr-1725	496	4	evaluation	evaluation	NOUN
framr-1725	496	5	values	value	NOUN
framr-1725	496	6	.	.	PUNCT
framr-1725	497	1	ftse	ftse	VERB
framr-1725	497	2	100	100	NUM
framr-1725	497	3	first	first	ADJ
framr-1725	497	4	sub	sub	NOUN
framr-1725	497	5	sample	sample	NOUN
framr-1725	497	6	(	(	PUNCT
framr-1725	497	7	in	in	ADP
framr-1725	497	8	sample	sample	NOUN
framr-1725	497	9	forecast	forecast	NOUN
framr-1725	497	10	)	)	PUNCT
framr-1725	498	1	mean	mean	VERB
framr-1725	498	2	error	error	NOUN
framr-1725	498	3	root	root	NOUN
framr-1725	498	4	mean	mean	VERB
framr-1725	498	5	square	square	ADJ
framr-1725	498	6	error	error	NOUN
framr-1725	498	7	mean	mean	VERB
framr-1725	498	8	absolute	absolute	ADJ
framr-1725	498	9	error	error	NOUN
framr-1725	498	10	mean	mean	VERB
framr-1725	498	11	absolute	absolute	ADJ
framr-1725	498	12	percentage	percentage	NOUN
framr-1725	498	13	error	error	NOUN
framr-1725	498	14	arch	arch	VERB
framr-1725	498	15	0.002984594	0.002984594	NUM
framr-1725	499	1	0.00395790	0.00395790	NUM
framr-1725	499	2	0.003690902	0.003690902	NUM
framr-1725	499	3	0.417200386	0.417200386	NUM
framr-1725	499	4	garch	garch	NOUN
framr-1725	499	5	0.000819442	0.000819442	NUM
framr-1725	499	6	0.003959491	0.003959491	NUM
framr-1725	499	7	0.002977073	0.002977073	NUM
framr-1725	499	8	0.337510323	0.337510323	NUM
framr-1725	499	9	egarch	egarch	NOUN
framr-1725	499	10	0.000833467	0.000833467	NUM
framr-1725	499	11	0.004702743	0.004702743	NUM
framr-1725	499	12	0.002976499	0.002976499	NUM
framr-1725	499	13	0.340345209	0.340345209	NUM
framr-1725	499	14	ftse	ftse	NOUN
framr-1725	499	15	100	100	NUM
framr-1725	499	16	second	second	ADJ
framr-1725	499	17	sub	sub	NOUN
framr-1725	499	18	sample	sample	NOUN
framr-1725	499	19	(	(	PUNCT
framr-1725	499	20	in	in	ADP
framr-1725	499	21	sample	sample	NOUN
framr-1725	499	22	forecast	forecast	NOUN
framr-1725	499	23	)	)	PUNCT
framr-1725	499	24	mean	mean	VERB
framr-1725	499	25	error	error	NOUN
framr-1725	499	26	root	root	NOUN
framr-1725	499	27	mean	mean	VERB
framr-1725	499	28	square	square	ADJ
framr-1725	499	29	error	error	NOUN
framr-1725	499	30	mean	mean	VERB
framr-1725	499	31	absolute	absolute	ADJ
framr-1725	499	32	error	error	NOUN
framr-1725	499	33	mean	mean	VERB
framr-1725	499	34	absolute	absolute	ADJ
framr-1725	499	35	percentage	percentage	NOUN
framr-1725	499	36	error	error	NOUN
framr-1725	499	37	arch	arch	NOUN
framr-1725	499	38	0.003664441	0.003664441	NUM
framr-1725	499	39	0.008406874	0.008406874	NUM
framr-1725	499	40	0.006350382	0.006350382	NUM
framr-1725	499	41	0.409346787	0.409346787	NUM
framr-1725	499	42	garch	garch	NOUN
framr-1725	499	43	0.003998175	0.003998175	NUM
framr-1725	499	44	0.008393197	0.008393197	NUM
framr-1725	499	45	0.00642288	0.00642288	NUM
framr-1725	499	46	0.409436781	0.409436781	NUM
framr-1725	499	47	egarch	egarch	NOUN
framr-1725	499	48	0.00428441	0.00428441	NUM
framr-1725	499	49	0.006942878	0.006942878	NUM
framr-1725	499	50	0.004573834	0.004573834	NUM
framr-1725	499	51	0.416043781	0.416043781	NUM
framr-1725	499	52	notes	note	NOUN
framr-1725	499	53	:	:	PUNCT
framr-1725	499	54	values	value	NOUN
framr-1725	499	55	on	on	ADP
framr-1725	499	56	bold	bold	ADJ
framr-1725	499	57	represent	represent	VERB
framr-1725	499	58	the	the	DET
framr-1725	499	59	lowest	low	ADJ
framr-1725	499	60	values	value	NOUN
framr-1725	499	61	of	of	ADP
framr-1725	499	62	the	the	DET
framr-1725	499	63	errors	error	NOUN
framr-1725	499	64	.	.	PUNCT
framr-1725	500	1	table-4.7.1c	table-4.7.1c	VERB
framr-1725	500	2	.	.	PUNCT
framr-1725	501	1	in	in	ADP
framr-1725	501	2	sample	sample	NOUN
framr-1725	501	3	forecast	forecast	NOUN
framr-1725	501	4	evaluation	evaluation	NOUN
framr-1725	501	5	values	value	NOUN
framr-1725	501	6	.	.	PUNCT
framr-1725	502	1	nikkei	nikkei	PROPN
framr-1725	502	2	225	225	NUM
framr-1725	502	3	first	first	ADJ
framr-1725	502	4	sub	sub	NOUN
framr-1725	502	5	sample	sample	NOUN
framr-1725	502	6	(	(	PUNCT
framr-1725	502	7	in	in	ADP
framr-1725	502	8	sample	sample	NOUN
framr-1725	502	9	forecast	forecast	NOUN
framr-1725	502	10	)	)	PUNCT
framr-1725	502	11	mean	mean	VERB
framr-1725	502	12	error	error	NOUN
framr-1725	502	13	root	root	NOUN
framr-1725	502	14	mean	mean	VERB
framr-1725	502	15	square	square	ADJ
framr-1725	502	16	error	error	NOUN
framr-1725	502	17	mean	mean	VERB
framr-1725	502	18	absolute	absolute	ADJ
framr-1725	502	19	error	error	NOUN
framr-1725	502	20	mean	mean	VERB
framr-1725	502	21	absolute	absolute	ADJ
framr-1725	502	22	percentage	percentage	NOUN
framr-1725	502	23	error	error	NOUN
framr-1725	502	24	arch	arch	VERB
framr-1725	502	25	0.003454182	0.003454182	NUM
framr-1725	502	26	0.007536839	0.007536839	NUM
framr-1725	502	27	0.006096075	0.006096075	NUM
framr-1725	502	28	0.3774864	0.3774864	NUM
framr-1725	502	29	garch	garch	NOUN
framr-1725	502	30	0.005049545	0.005049545	NUM
framr-1725	502	31	0.009189002	0.009189002	NUM
framr-1725	502	32	0.00751955	0.00751955	NUM
framr-1725	502	33	0.414153727	0.414153727	NUM
framr-1725	502	34	egarch	egarch	NOUN
framr-1725	502	35	0.001579412	0.001579412	NUM
framr-1725	502	36	0.00698981	0.00698981	NUM
framr-1725	502	37	0.005360969	0.005360969	NUM
framr-1725	502	38	0.377098188	0.377098188	NUM
framr-1725	502	39	nikkei	nikkei	NOUN
framr-1725	502	40	225	225	NUM
framr-1725	502	41	second	second	ADJ
framr-1725	502	42	sub	sub	NOUN
framr-1725	502	43	sample	sample	NOUN
framr-1725	502	44	(	(	PUNCT
framr-1725	502	45	in	in	ADP
framr-1725	502	46	sample	sample	NOUN
framr-1725	502	47	forecast	forecast	NOUN
framr-1725	502	48	)	)	PUNCT
framr-1725	502	49	mean	mean	VERB
framr-1725	502	50	error	error	NOUN
framr-1725	502	51	root	root	NOUN
framr-1725	502	52	mean	mean	VERB
framr-1725	502	53	square	square	ADJ
framr-1725	502	54	error	error	NOUN
framr-1725	502	55	mean	mean	VERB
framr-1725	502	56	absolute	absolute	ADJ
framr-1725	502	57	error	error	NOUN
framr-1725	502	58	mean	mean	VERB
framr-1725	502	59	absolute	absolute	ADJ
framr-1725	502	60	percentage	percentage	NOUN
framr-1725	502	61	error	error	NOUN
framr-1725	502	62	arch	arch	VERB
framr-1725	502	63	0.00170211	0.00170211	NUM
framr-1725	503	1	0.009122864	0.009122864	NUM
framr-1725	503	2	0.006194947	0.006194947	NUM
framr-1725	503	3	0.398395463	0.398395463	NUM
framr-1725	503	4	garch	garch	NOUN
framr-1725	503	5	0.002609161	0.002609161	NUM
framr-1725	503	6	0.009305596	0.009305596	NUM
framr-1725	503	7	0.006562385	0.006562385	NUM
framr-1725	503	8	0.390184292	0.390184292	NUM
framr-1725	503	9	egarch	egarch	VERB
framr-1725	503	10	0.001190273	0.001190273	NUM
framr-1725	503	11	0.009009175	0.009009175	NUM
framr-1725	503	12	0.00598187	0.00598187	NUM
framr-1725	503	13	0.401501728	0.401501728	NUM
framr-1725	503	14	notes	note	VERB
framr-1725	503	15	:	:	PUNCT
framr-1725	503	16	values	value	NOUN
framr-1725	503	17	on	on	ADP
framr-1725	503	18	bold	bold	ADJ
framr-1725	503	19	represent	represent	VERB
framr-1725	503	20	the	the	DET
framr-1725	503	21	lowest	low	ADJ
framr-1725	503	22	values	value	NOUN
framr-1725	503	23	of	of	ADP
framr-1725	503	24	the	the	DET
framr-1725	503	25	errors	error	NOUN
framr-1725	503	26	.	.	PUNCT
framr-1725	504	1	table-4.71d	table-4.71d	NOUN
framr-1725	504	2	.	.	PUNCT
framr-1725	505	1	out	out	ADP
framr-1725	505	2	of	of	ADP
framr-1725	505	3	sample	sample	NOUN
framr-1725	505	4	forecast	forecast	NOUN
framr-1725	505	5	evaluation	evaluation	NOUN
framr-1725	505	6	values	value	NOUN
framr-1725	505	7	.	.	PUNCT
framr-1725	506	1	dj	dj	X
framr-1725	506	2	-	-	PUNCT
framr-1725	506	3	indus	indus	NOUN
framr-1725	506	4	first	first	ADJ
framr-1725	506	5	sub	sub	NOUN
framr-1725	506	6	sample	sample	NOUN
framr-1725	506	7	(	(	PUNCT
framr-1725	506	8	out	out	ADJ
framr-1725	506	9	sample	sample	NOUN
framr-1725	506	10	forecast	forecast	NOUN
framr-1725	506	11	)	)	PUNCT
framr-1725	506	12	mean	mean	VERB
framr-1725	506	13	error	error	NOUN
framr-1725	506	14	root	root	NOUN
framr-1725	506	15	mean	mean	VERB
framr-1725	506	16	square	square	ADJ
framr-1725	506	17	error	error	NOUN
framr-1725	506	18	mean	mean	VERB
framr-1725	506	19	absolute	absolute	ADJ
framr-1725	506	20	error	error	NOUN
framr-1725	506	21	mean	mean	VERB
framr-1725	506	22	absolute	absolute	ADJ
framr-1725	506	23	percentage	percentage	NOUN
framr-1725	506	24	error	error	NOUN
framr-1725	506	25	arch	arch	NOUN
framr-1725	506	26	0.000651786	0.000651786	NUM
framr-1725	506	27	0.005216271	0.005216271	NUM
framr-1725	506	28	0.003634623	0.003634623	NUM
framr-1725	506	29	0.410702669	0.410702669	NUM
framr-1725	506	30	garch	garch	NOUN
framr-1725	506	31	0.000951028	0.000951028	NUM
framr-1725	506	32	0.005190626	0.005190626	NUM
framr-1725	506	33	0.0036393397	0.0036393397	NUM
framr-1725	506	34	0.10880283	0.10880283	NUM
framr-1725	506	35	egarch	egarch	NOUN
framr-1725	506	36	0.001157949	0.001157949	NUM
framr-1725	506	37	0.005267675	0.005267675	NUM
framr-1725	506	38	0.003800533	0.003800533	NUM
framr-1725	506	39	0.126536878	0.126536878	NUM
framr-1725	506	40	dj	dj	NOUN
framr-1725	506	41	-	-	PUNCT
framr-1725	506	42	indus	indus	NOUN
framr-1725	506	43	second	second	ADJ
framr-1725	506	44	sub	sub	NOUN
framr-1725	506	45	sample	sample	NOUN
framr-1725	506	46	(	(	PUNCT
framr-1725	506	47	out	out	ADJ
framr-1725	506	48	sample	sample	NOUN
framr-1725	506	49	forecast	forecast	NOUN
framr-1725	506	50	)	)	PUNCT
framr-1725	506	51	mean	mean	VERB
framr-1725	506	52	error	error	NOUN
framr-1725	506	53	root	root	NOUN
framr-1725	506	54	mean	mean	VERB
framr-1725	506	55	square	square	ADJ
framr-1725	506	56	error	error	NOUN
framr-1725	506	57	mean	mean	VERB
framr-1725	506	58	absolute	absolute	ADJ
framr-1725	506	59	error	error	NOUN
framr-1725	506	60	mean	mean	VERB
framr-1725	506	61	absolute	absolute	ADJ
framr-1725	506	62	percentage	percentage	NOUN
framr-1725	506	63	error	error	NOUN
framr-1725	506	64	arch	arch	VERB
framr-1725	506	65	0.003441605	0.003441605	NUM
framr-1725	507	1	0.009857653	0.009857653	NUM
framr-1725	507	2	0.007556308	0.007556308	NUM
framr-1725	507	3	0.558128635	0.558128635	NUM
framr-1725	507	4	garch	garch	NOUN
framr-1725	507	5	0.003269886	0.003269886	NUM
framr-1725	507	6	0.009581641	0.009581641	NUM
framr-1725	507	7	0.007174781	0.007174781	NUM
framr-1725	507	8	0.530767792	0.530767792	NUM
framr-1725	507	9	egarch	egarch	NOUN
framr-1725	507	10	0.000648471	0.000648471	NUM
framr-1725	507	11	0.009227492	0.009227492	NUM
framr-1725	507	12	0.006106292	0.006106292	NUM
framr-1725	507	13	0.569757756	0.569757756	NUM
framr-1725	507	14	notes	note	VERB
framr-1725	507	15	:	:	PUNCT
framr-1725	507	16	values	value	NOUN
framr-1725	507	17	on	on	ADP
framr-1725	507	18	bold	bold	ADJ
framr-1725	507	19	represent	represent	VERB
framr-1725	507	20	the	the	DET
framr-1725	507	21	lowest	low	ADJ
framr-1725	507	22	values	value	NOUN
framr-1725	507	23	of	of	ADP
framr-1725	507	24	the	the	DET
framr-1725	507	25	errors	error	NOUN
framr-1725	507	26	.	.	PUNCT
framr-1725	508	1	financial	financial	ADJ
framr-1725	508	2	risk	risk	NOUN
framr-1725	508	3	and	and	CCONJ
framr-1725	508	4	management	management	NOUN
framr-1725	508	5	reviews	review	NOUN
framr-1725	508	6	,	,	PUNCT
framr-1725	508	7	2018	2018	NUM
framr-1725	508	8	,	,	PUNCT
framr-1725	508	9	4(1	4(1	NOUN
framr-1725	508	10	):	):	PUNCT
framr-1725	508	11	1	1	NUM
framr-1725	508	12	-	-	SYM
framr-1725	508	13	23	23	NUM
framr-1725	508	14	23	23	NUM
framr-1725	508	15	©	©	PROPN
framr-1725	508	16	2018	2018	NUM
framr-1725	508	17	conscientia	conscientia	PROPN
framr-1725	508	18	beam	beam	PROPN
framr-1725	508	19	.	.	PUNCT
framr-1725	509	1	all	all	DET
framr-1725	509	2	rights	right	NOUN
framr-1725	509	3	reserved	reserve	VERB
framr-1725	509	4	.	.	PUNCT
framr-1725	510	1	table4.7.1e	table4.7.1e	PROPN
framr-1725	510	2	.	.	PUNCT
framr-1725	511	1	out	out	ADP
framr-1725	511	2	of	of	ADP
framr-1725	511	3	sample	sample	NOUN
framr-1725	511	4	forecast	forecast	NOUN
framr-1725	511	5	evaluation	evaluation	NOUN
framr-1725	511	6	values	value	NOUN
framr-1725	511	7	.	.	PUNCT
framr-1725	512	1	ftse	ftse	VERB
framr-1725	512	2	100	100	NUM
framr-1725	512	3	first	first	ADJ
framr-1725	512	4	sub	sub	NOUN
framr-1725	512	5	sample	sample	NOUN
framr-1725	512	6	(	(	PUNCT
framr-1725	512	7	out	out	ADP
framr-1725	512	8	of	of	ADP
framr-1725	512	9	sample	sample	NOUN
framr-1725	512	10	forecast	forecast	NOUN
framr-1725	512	11	)	)	PUNCT
framr-1725	513	1	mean	mean	VERB
framr-1725	513	2	error	error	NOUN
framr-1725	513	3	root	root	NOUN
framr-1725	513	4	mean	mean	VERB
framr-1725	513	5	square	square	ADJ
framr-1725	513	6	error	error	NOUN
framr-1725	513	7	mean	mean	VERB
framr-1725	513	8	absolute	absolute	ADJ
framr-1725	513	9	error	error	NOUN
framr-1725	513	10	mean	mean	VERB
framr-1725	513	11	absolute	absolute	ADJ
framr-1725	513	12	percentage	percentage	NOUN
framr-1725	513	13	error	error	NOUN
framr-1725	513	14	arch	arch	NOUN
framr-1725	513	15	0.004954642	0.004954642	NUM
framr-1725	513	16	0.005991094	0.005991094	NUM
framr-1725	513	17	0.005214505	0.005214505	NUM
framr-1725	513	18	0.584485088	0.584485088	NUM
framr-1725	513	19	garch	garch	NOUN
framr-1725	513	20	0.00086058	0.00086058	NUM
framr-1725	513	21	0.004675147	0.004675147	NUM
framr-1725	513	22	0.003659436	0.003659436	NUM
framr-1725	513	23	0.408896685	0.408896685	NUM
framr-1725	513	24	egarch	egarch	NOUN
framr-1725	513	25	0.000891135	0.000891135	NUM
framr-1725	513	26	0.004699706	0.004699706	NUM
framr-1725	513	27	0.000368831	0.000368831	NUM
framr-1725	513	28	0.411908289	0.411908289	NUM
framr-1725	513	29	ftse	ftse	NOUN
framr-1725	513	30	100	100	NUM
framr-1725	513	31	second	second	ADJ
framr-1725	513	32	sub	sub	NOUN
framr-1725	513	33	sample	sample	NOUN
framr-1725	513	34	(	(	PUNCT
framr-1725	513	35	out	out	ADP
framr-1725	513	36	of	of	ADP
framr-1725	513	37	sample	sample	NOUN
framr-1725	513	38	forecast	forecast	NOUN
framr-1725	513	39	)	)	PUNCT
framr-1725	514	1	mean	mean	VERB
framr-1725	514	2	error	error	NOUN
framr-1725	514	3	root	root	NOUN
framr-1725	514	4	mean	mean	VERB
framr-1725	514	5	square	square	ADJ
framr-1725	514	6	error	error	NOUN
framr-1725	514	7	mean	mean	VERB
framr-1725	514	8	absolute	absolute	ADJ
framr-1725	514	9	error	error	NOUN
framr-1725	514	10	mean	mean	VERB
framr-1725	514	11	absolute	absolute	ADJ
framr-1725	514	12	percentage	percentage	NOUN
framr-1725	514	13	error	error	NOUN
framr-1725	514	14	arch	arch	NOUN
framr-1725	514	15	0.00671887	0.00671887	NUM
framr-1725	514	16	0.011146005	0.011146005	NUM
framr-1725	514	17	0.00964341	0.00964341	NUM
framr-1725	514	18	0.568854013	0.568854013	NUM
framr-1725	514	19	garch	garch	NOUN
framr-1725	514	20	0.007384655	0.007384655	NUM
framr-1725	514	21	0.011089078	0.011089078	NUM
framr-1725	514	22	0.009737928	0.009737928	NUM
framr-1725	514	23	0.554996617	0.554996617	NUM
framr-1725	514	24	egarch	egarch	NOUN
framr-1725	514	25	0.00339366	0.00339366	NUM
framr-1725	515	1	0.008901765	0.008901765	NUM
framr-1725	515	2	0.006125039	0.006125039	NUM
framr-1725	515	3	0.584640813	0.584640813	NUM
framr-1725	515	4	notes	note	VERB
framr-1725	515	5	:	:	PUNCT
framr-1725	515	6	values	value	NOUN
framr-1725	515	7	on	on	ADP
framr-1725	515	8	bold	bold	ADJ
framr-1725	515	9	represent	represent	VERB
framr-1725	515	10	the	the	DET
framr-1725	515	11	lowest	low	ADJ
framr-1725	515	12	values	value	NOUN
framr-1725	515	13	of	of	ADP
framr-1725	515	14	the	the	DET
framr-1725	515	15	errors	error	NOUN
framr-1725	515	16	.	.	PUNCT
framr-1725	516	1	table-4.7.1f	table-4.7.1f	PROPN
framr-1725	516	2	.	.	PUNCT
framr-1725	517	1	out	out	ADP
framr-1725	517	2	of	of	ADP
framr-1725	517	3	sample	sample	NOUN
framr-1725	517	4	forecast	forecast	NOUN
framr-1725	517	5	evaluation	evaluation	NOUN
framr-1725	517	6	values	value	NOUN
framr-1725	517	7	.	.	PUNCT
framr-1725	518	1	nikkei	nikkei	PROPN
framr-1725	518	2	225	225	NUM
framr-1725	518	3	first	first	ADJ
framr-1725	518	4	sub	sub	NOUN
framr-1725	518	5	sample	sample	NOUN
framr-1725	518	6	(	(	PUNCT
framr-1725	518	7	out	out	ADP
framr-1725	518	8	of	of	ADP
framr-1725	518	9	sample	sample	NOUN
framr-1725	518	10	forecast	forecast	NOUN
framr-1725	518	11	)	)	PUNCT
framr-1725	518	12	mean	mean	VERB
framr-1725	518	13	error	error	NOUN
framr-1725	518	14	root	root	NOUN
framr-1725	518	15	mean	mean	VERB
framr-1725	518	16	square	square	ADJ
framr-1725	518	17	error	error	NOUN
framr-1725	518	18	mean	mean	VERB
framr-1725	518	19	absolute	absolute	ADJ
framr-1725	518	20	error	error	NOUN
framr-1725	518	21	mean	mean	VERB
framr-1725	518	22	absolute	absolute	ADJ
framr-1725	518	23	percentage	percentage	NOUN
framr-1725	518	24	error	error	NOUN
framr-1725	518	25	arch	arch	VERB
framr-1725	518	26	0.005101684	0.005101684	NUM
framr-1725	518	27	0.009031602	0.009031602	NUM
framr-1725	518	28	0.007777869	0.007777869	NUM
framr-1725	518	29	0.44111831	0.44111831	NUM
framr-1725	518	30	garch	garch	NOUN
framr-1725	518	31	0.008373207	0.008373207	NUM
framr-1725	518	32	0.011082624	0.011082624	NUM
framr-1725	518	33	0.009987103	0.009987103	NUM
framr-1725	518	34	0.478706324	0.478706324	NUM
framr-1725	518	35	egarch	egarch	NOUN
framr-1725	518	36	0.00191227	0.00191227	NUM
framr-1725	518	37	0.007670322	0.007670322	NUM
framr-1725	518	38	0.006108042	0.006108042	NUM
framr-1725	518	39	0.423331019	0.423331019	NUM
framr-1725	518	40	nikkei	nikkei	NOUN
framr-1725	518	41	225	225	NUM
framr-1725	518	42	second	second	ADJ
framr-1725	518	43	sub	sub	NOUN
framr-1725	518	44	sample	sample	NOUN
framr-1725	518	45	(	(	PUNCT
framr-1725	518	46	out	out	ADP
framr-1725	518	47	of	of	ADP
framr-1725	518	48	sample	sample	NOUN
framr-1725	518	49	forecast	forecast	NOUN
framr-1725	518	50	)	)	PUNCT
framr-1725	518	51	mean	mean	VERB
framr-1725	518	52	error	error	NOUN
framr-1725	518	53	root	root	NOUN
framr-1725	518	54	mean	mean	VERB
framr-1725	518	55	square	square	ADJ
framr-1725	518	56	error	error	NOUN
framr-1725	518	57	mean	mean	VERB
framr-1725	518	58	absolute	absolute	ADJ
framr-1725	518	59	error	error	NOUN
framr-1725	518	60	mean	mean	VERB
framr-1725	518	61	absolute	absolute	ADJ
framr-1725	518	62	percentage	percentage	NOUN
framr-1725	518	63	error	error	NOUN
framr-1725	518	64	arch	arch	VERB
framr-1725	518	65	0.002391304	0.002391304	NUM
framr-1725	518	66	0.011508265	0.011508265	NUM
framr-1725	518	67	0.007933385	0.007933385	NUM
framr-1725	518	68	0.496586615	0.496586615	NUM
framr-1725	518	69	garch	garch	NOUN
framr-1725	518	70	0.004129922	0.004129922	NUM
framr-1725	518	71	0.011874298	0.011874298	NUM
framr-1725	518	72	0.008791541	0.008791541	NUM
framr-1725	518	73	0.493609117	0.493609117	NUM
framr-1725	519	1	egarch	egarch	NOUN
framr-1725	519	2	0.001330736	0.001330736	NUM
framr-1725	519	3	0.01133557	0.01133557	NUM
framr-1725	519	4	0.007444403	0.007444403	NUM
framr-1725	520	1	0.4997820013	0.4997820013	NUM
framr-1725	520	2	notes	note	VERB
framr-1725	520	3	:	:	PUNCT
framr-1725	520	4	values	value	NOUN
framr-1725	520	5	on	on	ADP
framr-1725	520	6	bold	bold	ADJ
framr-1725	520	7	represent	represent	VERB
framr-1725	520	8	the	the	DET
framr-1725	520	9	lowest	low	ADJ
framr-1725	520	10	values	value	NOUN
framr-1725	520	11	of	of	ADP
framr-1725	520	12	the	the	DET
framr-1725	520	13	errors	error	NOUN
framr-1725	520	14	.	.	PUNCT
framr-1725	521	1	views	view	NOUN
framr-1725	521	2	and	and	CCONJ
framr-1725	521	3	opinions	opinion	NOUN
framr-1725	521	4	expressed	express	VERB
framr-1725	521	5	in	in	ADP
framr-1725	521	6	this	this	DET
framr-1725	521	7	article	article	NOUN
framr-1725	521	8	are	be	AUX
framr-1725	521	9	the	the	DET
framr-1725	521	10	views	view	NOUN
framr-1725	521	11	and	and	CCONJ
framr-1725	521	12	opinions	opinion	NOUN
framr-1725	521	13	of	of	ADP
framr-1725	521	14	the	the	DET
framr-1725	521	15	author(s	author(s	NOUN
framr-1725	521	16	)	)	PUNCT
framr-1725	521	17	,	,	PUNCT
framr-1725	521	18	financial	financial	ADJ
framr-1725	521	19	risk	risk	NOUN
framr-1725	521	20	and	and	CCONJ
framr-1725	521	21	management	management	NOUN
framr-1725	521	22	reviews	review	NOUN
framr-1725	521	23	shall	shall	AUX
framr-1725	521	24	not	not	PART
framr-1725	521	25	be	be	AUX
framr-1725	521	26	responsible	responsible	ADJ
framr-1725	521	27	or	or	CCONJ
framr-1725	521	28	answerable	answerable	ADJ
framr-1725	521	29	for	for	ADP
framr-1725	521	30	any	any	DET
framr-1725	521	31	loss	loss	NOUN
framr-1725	521	32	,	,	PUNCT
framr-1725	521	33	damage	damage	NOUN
framr-1725	521	34	or	or	CCONJ
framr-1725	521	35	liability	liability	NOUN
framr-1725	521	36	etc	etc	X
framr-1725	521	37	.	.	X
framr-1725	522	1	caused	cause	VERB
framr-1725	522	2	in	in	ADP
framr-1725	522	3	relation	relation	NOUN
framr-1725	522	4	to	to	PART
framr-1725	522	5	/	/	PUNCT
framr-1725	522	6	arising	arise	VERB
framr-1725	522	7	out	out	ADP
framr-1725	522	8	of	of	ADP
framr-1725	522	9	the	the	DET
framr-1725	522	10	use	use	NOUN
framr-1725	522	11	of	of	ADP
framr-1725	522	12	the	the	DET
framr-1725	522	13	content	content	NOUN
framr-1725	522	14	.	.	PUNCT