id	sid	tid	token	lemma	pos
framr-1741	1	1	1	1	NUM
framr-1741	1	2	©	©	PROPN
framr-1741	1	3	2021	2021	NUM
framr-1741	1	4	conscientia	conscientia	PROPN
framr-1741	1	5	beam	beam	PROPN
framr-1741	1	6	.	.	PUNCT
framr-1741	2	1	all	all	DET
framr-1741	2	2	rights	right	NOUN
framr-1741	2	3	reserved	reserve	VERB
framr-1741	2	4	.	.	PUNCT
framr-1741	3	1	modelling	model	VERB
framr-1741	3	2	stock	stock	NOUN
framr-1741	3	3	returns	return	NOUN
framr-1741	3	4	volatility	volatility	NOUN
framr-1741	3	5	and	and	CCONJ
framr-1741	3	6	asymmetric	asymmetric	ADJ
framr-1741	3	7	news	news	NOUN
framr-1741	3	8	effect	effect	NOUN
framr-1741	3	9	:	:	PUNCT
framr-1741	3	10	a	a	DET
framr-1741	3	11	global	global	ADJ
framr-1741	3	12	perspective	perspective	NOUN
framr-1741	3	13	kingsley	kingsley	PROPN
framr-1741	3	14	onyekachi	onyekachi	PROPN
framr-1741	3	15	onyele1	onyele1	PROPN
framr-1741	3	16	+	+	PROPN
framr-1741	3	17	emmanuel	emmanuel	PROPN
framr-1741	3	18	chijioke	chijioke	NOUN
framr-1741	3	19	nwadike2	nwadike2	NOUN
framr-1741	4	1	1michael	1michael	NUM
framr-1741	4	2	okpara	okpara	NOUN
framr-1741	4	3	university	university	NOUN
framr-1741	4	4	of	of	ADP
framr-1741	4	5	agriculture	agriculture	PROPN
framr-1741	4	6	,	,	PUNCT
framr-1741	4	7	umudike	umudike	NOUN
framr-1741	4	8	,	,	PUNCT
framr-1741	4	9	umuahia	umuahia	VERB
framr-1741	4	10	,	,	PUNCT
framr-1741	4	11	abia	abia	NOUN
framr-1741	4	12	state	state	PROPN
framr-1741	4	13	,	,	PUNCT
framr-1741	4	14	nigeria	nigeria	PROPN
framr-1741	4	15	.	.	PUNCT
framr-1741	5	1	2federal	2federal	ADJ
framr-1741	5	2	university	university	NOUN
framr-1741	5	3	of	of	ADP
framr-1741	5	4	technology	technology	NOUN
framr-1741	5	5	,	,	PUNCT
framr-1741	5	6	owerri	owerri	PROPN
framr-1741	5	7	,	,	PUNCT
framr-1741	5	8	owerri	owerri	PROPN
framr-1741	5	9	,	,	PUNCT
framr-1741	5	10	imo	imo	PROPN
framr-1741	5	11	state	state	PROPN
framr-1741	5	12	,	,	PUNCT
framr-1741	5	13	nigeria	nigeria	PROPN
framr-1741	5	14	.	.	PUNCT
framr-1741	6	1	(	(	PUNCT
framr-1741	6	2	+	+	CCONJ
framr-1741	6	3	corresponding	correspond	VERB
framr-1741	6	4	author	author	NOUN
framr-1741	6	5	)	)	PUNCT
framr-1741	6	6	abstract	abstract	ADJ
framr-1741	6	7	article	article	NOUN
framr-1741	6	8	history	history	NOUN
framr-1741	6	9	received	receive	VERB
framr-1741	6	10	:	:	PUNCT
framr-1741	6	11	2	2	NUM
framr-1741	6	12	november	november	NOUN
framr-1741	6	13	2020	2020	NUM
framr-1741	6	14	revised	revise	VERB
framr-1741	6	15	:	:	PUNCT
framr-1741	6	16	4	4	NUM
framr-1741	6	17	december	december	NOUN
framr-1741	6	18	2020	2020	NUM
framr-1741	6	19	accepted	accept	VERB
framr-1741	6	20	:	:	PUNCT
framr-1741	6	21	21	21	NUM
framr-1741	6	22	december	december	PROPN
framr-1741	6	23	2020	2020	NUM
framr-1741	6	24	published	publish	VERB
framr-1741	6	25	:	:	PUNCT
framr-1741	6	26	11	11	NUM
framr-1741	6	27	january	january	NOUN
framr-1741	6	28	2021	2021	NUM
framr-1741	6	29	keywords	keyword	VERB
framr-1741	6	30	stock	stock	NOUN
framr-1741	6	31	returns	return	NOUN
framr-1741	6	32	volatility	volatility	NOUN
framr-1741	6	33	stock	stock	NOUN
framr-1741	6	34	market	market	NOUN
framr-1741	6	35	asymmetry	asymmetry	NOUN
framr-1741	6	36	garch	garch	NOUN
framr-1741	6	37	.	.	PUNCT
framr-1741	7	1	jel	jel	PROPN
framr-1741	7	2	classification	classification	NOUN
framr-1741	7	3	:	:	PUNCT
framr-1741	7	4	c58	c58	PROPN
framr-1741	7	5	;	;	PUNCT
framr-1741	7	6	g10	g10	PROPN
framr-1741	7	7	;	;	PUNCT
framr-1741	7	8	l16	l16	PROPN
framr-1741	7	9	.	.	PUNCT
framr-1741	8	1	this	this	DET
framr-1741	8	2	paper	paper	NOUN
framr-1741	8	3	modelled	model	VERB
framr-1741	8	4	stock	stock	NOUN
framr-1741	8	5	returns	return	NOUN
framr-1741	8	6	volatility	volatility	NOUN
framr-1741	8	7	using	use	VERB
framr-1741	8	8	daily	daily	ADJ
framr-1741	8	9	s&p	s&p	PROPN
framr-1741	8	10	global	global	ADJ
framr-1741	8	11	1200	1200	NUM
framr-1741	8	12	index	index	NOUN
framr-1741	8	13	from	from	ADP
framr-1741	8	14	1st	1st	ADJ
framr-1741	8	15	september	september	PROPN
framr-1741	8	16	,	,	PUNCT
framr-1741	8	17	2010	2010	NUM
framr-1741	8	18	to	to	ADP
framr-1741	8	19	30th	30th	ADJ
framr-1741	8	20	september	september	PROPN
framr-1741	8	21	,	,	PUNCT
framr-1741	8	22	2020	2020	NUM
framr-1741	8	23	.	.	PUNCT
framr-1741	9	1	the	the	DET
framr-1741	9	2	s&p	s&p	PROPN
framr-1741	9	3	1200	1200	NUM
framr-1741	9	4	represents	represent	VERB
framr-1741	9	5	a	a	DET
framr-1741	9	6	free	free	ADJ
framr-1741	9	7	-	-	PUNCT
framr-1741	9	8	float	float	NOUN
framr-1741	9	9	weighted	weight	VERB
framr-1741	9	10	stock	stock	NOUN
framr-1741	9	11	market	market	NOUN
framr-1741	9	12	index	index	NOUN
framr-1741	9	13	of	of	ADP
framr-1741	9	14	global	global	ADJ
framr-1741	9	15	equities	equity	NOUN
framr-1741	9	16	covering	cover	VERB
framr-1741	9	17	seven	seven	NUM
framr-1741	9	18	(	(	PUNCT
framr-1741	9	19	7	7	NUM
framr-1741	9	20	)	)	PUNCT
framr-1741	9	21	regional	regional	ADJ
framr-1741	9	22	stock	stock	NOUN
framr-1741	9	23	market	market	NOUN
framr-1741	9	24	indices	index	NOUN
framr-1741	9	25	and	and	CCONJ
framr-1741	9	26	approximately	approximately	ADV
framr-1741	9	27	70	70	NUM
framr-1741	9	28	%	%	NOUN
framr-1741	9	29	of	of	ADP
framr-1741	9	30	the	the	DET
framr-1741	9	31	global	global	ADJ
framr-1741	9	32	market	market	NOUN
framr-1741	9	33	capitalization	capitalization	NOUN
framr-1741	9	34	,	,	PUNCT
framr-1741	9	35	hence	hence	ADV
framr-1741	9	36	was	be	AUX
framr-1741	9	37	used	use	VERB
framr-1741	9	38	to	to	PART
framr-1741	9	39	compute	compute	VERB
framr-1741	9	40	global	global	ADJ
framr-1741	9	41	stock	stock	NOUN
framr-1741	9	42	returns	return	NOUN
framr-1741	9	43	.	.	PUNCT
framr-1741	10	1	the	the	DET
framr-1741	10	2	data	data	NOUN
framr-1741	10	3	analysis	analysis	NOUN
framr-1741	10	4	was	be	AUX
framr-1741	10	5	carried	carry	VERB
framr-1741	10	6	out	out	ADP
framr-1741	10	7	with	with	ADP
framr-1741	10	8	generalized	generalized	ADJ
framr-1741	10	9	autoregressive	autoregressive	ADJ
framr-1741	10	10	conditional	conditional	ADJ
framr-1741	10	11	heteroskedasticity	heteroskedasticity	NOUN
framr-1741	10	12	(	(	PUNCT
framr-1741	10	13	garch	garch	NOUN
framr-1741	10	14	)	)	PUNCT
framr-1741	10	15	techniques	technique	NOUN
framr-1741	10	16	.	.	PUNCT
framr-1741	11	1	of	of	ADP
framr-1741	11	2	the	the	DET
framr-1741	11	3	variant	variant	ADJ
framr-1741	11	4	garch	garch	NOUN
framr-1741	11	5	models	model	NOUN
framr-1741	11	6	specified	specify	VERB
framr-1741	11	7	in	in	ADP
framr-1741	11	8	this	this	DET
framr-1741	11	9	study	study	NOUN
framr-1741	11	10	,	,	PUNCT
framr-1741	11	11	the	the	DET
framr-1741	11	12	symmetric	symmetric	ADJ
framr-1741	11	13	garch	garch	NOUN
framr-1741	11	14	-	-	PUNCT
framr-1741	11	15	m	m	PROPN
framr-1741	11	16	(	(	PUNCT
framr-1741	11	17	1,1	1,1	NUM
framr-1741	11	18	)	)	PUNCT
framr-1741	11	19	and	and	CCONJ
framr-1741	11	20	the	the	DET
framr-1741	11	21	asymmetric	asymmetric	ADJ
framr-1741	11	22	tgarch	tgarch	NOUN
framr-1741	11	23	(	(	PUNCT
framr-1741	11	24	1,1	1,1	NUM
framr-1741	11	25	)	)	PUNCT
framr-1741	11	26	models	model	NOUN
framr-1741	11	27	were	be	AUX
framr-1741	11	28	found	find	VERB
framr-1741	11	29	suitable	suitable	ADJ
framr-1741	11	30	for	for	ADP
framr-1741	11	31	the	the	DET
framr-1741	11	32	estimation	estimation	NOUN
framr-1741	11	33	.	.	PUNCT
framr-1741	12	1	the	the	DET
framr-1741	12	2	findings	finding	NOUN
framr-1741	12	3	from	from	ADP
framr-1741	12	4	the	the	DET
framr-1741	12	5	garch	garch	NOUN
framr-1741	12	6	-	-	PUNCT
framr-1741	12	7	m	m	NOUN
framr-1741	12	8	and	and	CCONJ
framr-1741	12	9	tgarch	tgarch	NOUN
framr-1741	12	10	models	model	NOUN
framr-1741	12	11	revealed	reveal	VERB
framr-1741	12	12	explosive	explosive	ADJ
framr-1741	12	13	volatility	volatility	NOUN
framr-1741	12	14	persistence	persistence	NOUN
framr-1741	12	15	and	and	CCONJ
framr-1741	12	16	strong	strong	ADJ
framr-1741	12	17	asymmetric	asymmetric	ADJ
framr-1741	12	18	news	news	NOUN
framr-1741	12	19	effect	effect	NOUN
framr-1741	12	20	in	in	ADP
framr-1741	12	21	the	the	DET
framr-1741	12	22	global	global	ADJ
framr-1741	12	23	stock	stock	NOUN
framr-1741	12	24	market	market	NOUN
framr-1741	12	25	,	,	PUNCT
framr-1741	12	26	respectively	respectively	ADV
framr-1741	12	27	.	.	PUNCT
framr-1741	13	1	the	the	DET
framr-1741	13	2	implication	implication	NOUN
framr-1741	13	3	of	of	ADP
framr-1741	13	4	volatility	volatility	NOUN
framr-1741	13	5	persistence	persistence	NOUN
framr-1741	13	6	is	be	AUX
framr-1741	13	7	that	that	SCONJ
framr-1741	13	8	current	current	ADJ
framr-1741	13	9	volatility	volatility	NOUN
framr-1741	13	10	shocks	shock	NOUN
framr-1741	13	11	influenced	influence	VERB
framr-1741	13	12	expected	expect	VERB
framr-1741	13	13	returns	return	NOUN
framr-1741	13	14	over	over	ADP
framr-1741	13	15	a	a	DET
framr-1741	13	16	long	long	ADJ
framr-1741	13	17	period	period	NOUN
framr-1741	13	18	.	.	PUNCT
framr-1741	14	1	the	the	DET
framr-1741	14	2	asymmetric	asymmetric	ADJ
framr-1741	14	3	news	news	NOUN
framr-1741	14	4	effect	effect	NOUN
framr-1741	14	5	showed	show	VERB
framr-1741	14	6	that	that	SCONJ
framr-1741	14	7	negative	negative	ADJ
framr-1741	14	8	news	news	NOUN
framr-1741	14	9	(	(	PUNCT
framr-1741	14	10	bad	bad	ADJ
framr-1741	14	11	news	news	NOUN
framr-1741	14	12	)	)	PUNCT
framr-1741	14	13	spurred	spur	VERB
framr-1741	14	14	stock	stock	NOUN
framr-1741	14	15	returns	return	NOUN
framr-1741	14	16	volatility	volatility	NOUN
framr-1741	14	17	than	than	ADP
framr-1741	14	18	positive	positive	ADJ
framr-1741	14	19	news	news	NOUN
framr-1741	14	20	(	(	PUNCT
framr-1741	14	21	good	good	ADJ
framr-1741	14	22	news	news	NOUN
framr-1741	14	23	)	)	PUNCT
framr-1741	14	24	especially	especially	ADV
framr-1741	14	25	in	in	ADP
framr-1741	14	26	2020	2020	NUM
framr-1741	14	27	which	which	PRON
framr-1741	14	28	was	be	AUX
framr-1741	14	29	due	due	ADJ
framr-1741	14	30	to	to	ADP
framr-1741	14	31	the	the	DET
framr-1741	14	32	covid-19	covid-19	PROPN
framr-1741	14	33	crisis	crisis	NOUN
framr-1741	14	34	as	as	SCONJ
framr-1741	14	35	shown	show	VERB
framr-1741	14	36	by	by	ADP
framr-1741	14	37	the	the	DET
framr-1741	14	38	plot	plot	NOUN
framr-1741	14	39	of	of	ADP
framr-1741	14	40	the	the	DET
framr-1741	14	41	conditional	conditional	ADJ
framr-1741	14	42	variance	variance	NOUN
framr-1741	14	43	.	.	PUNCT
framr-1741	15	1	these	these	DET
framr-1741	15	2	results	result	NOUN
framr-1741	15	3	were	be	AUX
framr-1741	15	4	consistent	consistent	ADJ
framr-1741	15	5	with	with	ADP
framr-1741	15	6	the	the	DET
framr-1741	15	7	empirical	empirical	ADJ
framr-1741	15	8	findings	finding	NOUN
framr-1741	15	9	of	of	ADP
framr-1741	15	10	a	a	DET
framr-1741	15	11	number	number	NOUN
framr-1741	15	12	of	of	ADP
framr-1741	15	13	studies	study	NOUN
framr-1741	15	14	in	in	ADP
framr-1741	15	15	emerging	emerge	VERB
framr-1741	15	16	markets	market	NOUN
framr-1741	15	17	.	.	PUNCT
framr-1741	16	1	hence	hence	ADV
framr-1741	16	2	,	,	PUNCT
framr-1741	16	3	the	the	DET
framr-1741	16	4	study	study	NOUN
framr-1741	16	5	concludes	conclude	VERB
framr-1741	16	6	that	that	SCONJ
framr-1741	16	7	the	the	DET
framr-1741	16	8	global	global	ADJ
framr-1741	16	9	stock	stock	NOUN
framr-1741	16	10	market	market	NOUN
framr-1741	16	11	exhibited	exhibit	VERB
framr-1741	16	12	high	high	ADJ
framr-1741	16	13	volatility	volatility	NOUN
framr-1741	16	14	persistence	persistence	NOUN
framr-1741	16	15	and	and	CCONJ
framr-1741	16	16	leverage	leverage	NOUN
framr-1741	16	17	effect	effect	NOUN
framr-1741	16	18	during	during	ADP
framr-1741	16	19	the	the	DET
framr-1741	16	20	sampled	sampled	ADJ
framr-1741	16	21	period	period	NOUN
framr-1741	16	22	.	.	PUNCT
framr-1741	17	1	contribution	contribution	NOUN
framr-1741	17	2	/	/	SYM
framr-1741	17	3	originality	originality	NOUN
framr-1741	17	4	:	:	PUNCT
framr-1741	17	5	this	this	DET
framr-1741	17	6	study	study	NOUN
framr-1741	17	7	contributes	contribute	VERB
framr-1741	17	8	to	to	ADP
framr-1741	17	9	the	the	DET
framr-1741	17	10	literature	literature	NOUN
framr-1741	17	11	by	by	ADP
framr-1741	17	12	modelling	model	VERB
framr-1741	17	13	global	global	ADJ
framr-1741	17	14	stock	stock	NOUN
framr-1741	17	15	returns	return	NOUN
framr-1741	17	16	volatility	volatility	NOUN
framr-1741	17	17	and	and	CCONJ
framr-1741	17	18	asymmetric	asymmetric	ADJ
framr-1741	17	19	news	news	NOUN
framr-1741	17	20	effect	effect	NOUN
framr-1741	17	21	using	use	VERB
framr-1741	17	22	a	a	DET
framr-1741	17	23	new	new	ADJ
framr-1741	17	24	stock	stock	NOUN
framr-1741	17	25	index	index	NOUN
framr-1741	17	26	(	(	PUNCT
framr-1741	17	27	s&p	s&p	PROPN
framr-1741	17	28	1200	1200	NUM
framr-1741	17	29	global	global	ADJ
framr-1741	17	30	index	index	NOUN
framr-1741	17	31	)	)	PUNCT
framr-1741	17	32	.	.	PUNCT
framr-1741	18	1	the	the	DET
framr-1741	18	2	paper	paper	NOUN
framr-1741	18	3	contributes	contribute	VERB
framr-1741	18	4	the	the	DET
framr-1741	18	5	first	first	ADJ
framr-1741	18	6	logical	logical	ADJ
framr-1741	18	7	analysis	analysis	NOUN
framr-1741	18	8	that	that	SCONJ
framr-1741	18	9	volatility	volatility	NOUN
framr-1741	18	10	of	of	ADP
framr-1741	18	11	s&p	s&p	PROPN
framr-1741	18	12	1200	1200	NUM
framr-1741	18	13	returns	return	NOUN
framr-1741	18	14	is	be	AUX
framr-1741	18	15	explosive	explosive	ADJ
framr-1741	18	16	and	and	CCONJ
framr-1741	18	17	largely	largely	ADV
framr-1741	18	18	influenced	influence	VERB
framr-1741	18	19	by	by	ADP
framr-1741	18	20	news	news	NOUN
framr-1741	18	21	available	available	ADJ
framr-1741	18	22	in	in	ADP
framr-1741	18	23	the	the	DET
framr-1741	18	24	global	global	ADJ
framr-1741	18	25	markets	market	NOUN
framr-1741	18	26	.	.	PUNCT
framr-1741	19	1	1	1	X
framr-1741	19	2	.	.	X
framr-1741	19	3	introduction	introduction	NOUN
framr-1741	19	4	in	in	ADP
framr-1741	19	5	both	both	DET
framr-1741	19	6	developed	developed	ADJ
framr-1741	19	7	and	and	CCONJ
framr-1741	19	8	developing	develop	VERB
framr-1741	19	9	economies	economy	NOUN
framr-1741	19	10	,	,	PUNCT
framr-1741	19	11	the	the	DET
framr-1741	19	12	stock	stock	NOUN
framr-1741	19	13	market	market	NOUN
framr-1741	19	14	is	be	AUX
framr-1741	19	15	an	an	DET
framr-1741	19	16	integral	integral	ADJ
framr-1741	19	17	component	component	NOUN
framr-1741	19	18	of	of	ADP
framr-1741	19	19	the	the	DET
framr-1741	19	20	financial	financial	ADJ
framr-1741	19	21	system	system	NOUN
framr-1741	19	22	that	that	PRON
framr-1741	19	23	contributes	contribute	VERB
framr-1741	19	24	immensely	immensely	ADV
framr-1741	19	25	to	to	ADP
framr-1741	19	26	capital	capital	NOUN
framr-1741	19	27	formation	formation	NOUN
framr-1741	19	28	,	,	PUNCT
framr-1741	19	29	wealth	wealth	NOUN
framr-1741	19	30	creation	creation	NOUN
framr-1741	19	31	and	and	CCONJ
framr-1741	19	32	economic	economic	ADJ
framr-1741	19	33	growth	growth	NOUN
framr-1741	19	34	.	.	PUNCT
framr-1741	20	1	although	although	SCONJ
framr-1741	20	2	it	it	PRON
framr-1741	20	3	plays	play	VERB
framr-1741	20	4	a	a	DET
framr-1741	20	5	prominent	prominent	ADJ
framr-1741	20	6	role	role	NOUN
framr-1741	20	7	in	in	ADP
framr-1741	20	8	economic	economic	ADJ
framr-1741	20	9	prosperity	prosperity	NOUN
framr-1741	20	10	by	by	ADP
framr-1741	20	11	deepening	deepen	VERB
framr-1741	20	12	the	the	DET
framr-1741	20	13	financial	financial	ADJ
framr-1741	20	14	system	system	NOUN
framr-1741	20	15	,	,	PUNCT
framr-1741	20	16	problems	problem	NOUN
framr-1741	20	17	occasioned	occasion	VERB
framr-1741	20	18	by	by	ADP
framr-1741	20	19	volatility	volatility	NOUN
framr-1741	20	20	of	of	ADP
framr-1741	20	21	stock	stock	NOUN
framr-1741	20	22	returns	return	NOUN
framr-1741	20	23	has	have	AUX
framr-1741	20	24	immensely	immensely	ADV
framr-1741	20	25	influenced	influence	VERB
framr-1741	20	26	the	the	DET
framr-1741	20	27	effective	effective	ADJ
framr-1741	20	28	functioning	functioning	NOUN
framr-1741	20	29	of	of	ADP
framr-1741	20	30	the	the	DET
framr-1741	20	31	global	global	ADJ
framr-1741	20	32	market	market	NOUN
framr-1741	20	33	.	.	PUNCT
framr-1741	21	1	according	accord	VERB
framr-1741	21	2	to	to	ADP
framr-1741	21	3	literature	literature	NOUN
framr-1741	21	4	allied	ally	VERB
framr-1741	21	5	to	to	ADP
framr-1741	21	6	stock	stock	NOUN
framr-1741	21	7	markets	market	NOUN
framr-1741	21	8	,	,	PUNCT
framr-1741	21	9	volatility	volatility	NOUN
framr-1741	21	10	is	be	AUX
framr-1741	21	11	the	the	DET
framr-1741	21	12	level	level	NOUN
framr-1741	21	13	of	of	ADP
framr-1741	21	14	uncertainty	uncertainty	NOUN
framr-1741	21	15	or	or	CCONJ
framr-1741	21	16	risk	risk	NOUN
framr-1741	21	17	associated	associate	VERB
framr-1741	21	18	with	with	ADP
framr-1741	21	19	the	the	DET
framr-1741	21	20	value	value	NOUN
framr-1741	21	21	of	of	ADP
framr-1741	21	22	financial	financial	ADJ
framr-1741	21	23	assets	asset	NOUN
framr-1741	21	24	(	(	PUNCT
framr-1741	21	25	engle	engle	PROPN
framr-1741	21	26	&	&	CCONJ
framr-1741	21	27	patton	patton	PROPN
framr-1741	21	28	,	,	PUNCT
framr-1741	21	29	2001	2001	NUM
framr-1741	21	30	)	)	PUNCT
framr-1741	21	31	.	.	PUNCT
framr-1741	22	1	periods	period	NOUN
framr-1741	22	2	of	of	ADP
framr-1741	22	3	higher	high	ADJ
framr-1741	22	4	volatility	volatility	NOUN
framr-1741	22	5	connotes	connote	VERB
framr-1741	22	6	significant	significant	ADJ
framr-1741	22	7	variation	variation	NOUN
framr-1741	22	8	in	in	ADP
framr-1741	22	9	the	the	DET
framr-1741	22	10	value	value	NOUN
framr-1741	22	11	of	of	ADP
framr-1741	22	12	financial	financial	ADJ
framr-1741	22	13	assets	asset	NOUN
framr-1741	22	14	while	while	SCONJ
framr-1741	22	15	lower	low	ADJ
framr-1741	22	16	volatility	volatility	NOUN
framr-1741	22	17	suggests	suggest	VERB
framr-1741	22	18	that	that	SCONJ
framr-1741	22	19	the	the	DET
framr-1741	22	20	value	value	NOUN
framr-1741	22	21	of	of	ADP
framr-1741	22	22	financial	financial	ADJ
framr-1741	22	23	assets	asset	NOUN
framr-1741	22	24	does	do	AUX
framr-1741	22	25	not	not	PART
framr-1741	22	26	dramatically	dramatically	ADV
framr-1741	22	27	change	change	VERB
framr-1741	22	28	overtime	overtime	NOUN
framr-1741	22	29	(	(	PUNCT
framr-1741	22	30	banumathy	banumathy	PROPN
framr-1741	22	31	&	&	CCONJ
framr-1741	22	32	azhagaiah	azhagaiah	PROPN
framr-1741	22	33	,	,	PUNCT
framr-1741	22	34	2015	2015	NUM
framr-1741	22	35	)	)	PUNCT
framr-1741	22	36	.	.	PUNCT
framr-1741	23	1	this	this	DET
framr-1741	23	2	volatility	volatility	NOUN
framr-1741	23	3	risk	risk	NOUN
framr-1741	23	4	could	could	AUX
framr-1741	23	5	cause	cause	VERB
framr-1741	23	6	financial	financial	ADJ
framr-1741	23	7	shocks	shock	NOUN
framr-1741	23	8	to	to	ADP
framr-1741	23	9	investors	investor	NOUN
framr-1741	23	10	,	,	PUNCT
framr-1741	23	11	thus	thus	ADV
framr-1741	23	12	creating	create	VERB
framr-1741	23	13	challenges	challenge	NOUN
framr-1741	23	14	of	of	ADP
framr-1741	23	15	low	low	ADJ
framr-1741	23	16	capital	capital	NOUN
framr-1741	23	17	investments	investment	NOUN
framr-1741	23	18	in	in	ADP
framr-1741	23	19	financial	financial	ADJ
framr-1741	23	20	assets	asset	NOUN
framr-1741	23	21	,	,	PUNCT
framr-1741	23	22	vulnerability	vulnerability	NOUN
framr-1741	23	23	in	in	ADP
framr-1741	23	24	market	market	NOUN
framr-1741	23	25	-	-	PUNCT
framr-1741	23	26	making	making	NOUN
framr-1741	23	27	,	,	PUNCT
framr-1741	23	28	loss	loss	NOUN
framr-1741	23	29	of	of	ADP
framr-1741	23	30	investors	investor	NOUN
framr-1741	23	31	’	’	PART
framr-1741	23	32	confidence	confidence	NOUN
framr-1741	23	33	and	and	CCONJ
framr-1741	23	34	fickle	fickle	ADJ
framr-1741	23	35	stock	stock	NOUN
framr-1741	23	36	financial	financial	ADJ
framr-1741	23	37	risk	risk	NOUN
framr-1741	23	38	and	and	CCONJ
framr-1741	23	39	management	management	NOUN
framr-1741	23	40	reviews	review	NOUN
framr-1741	23	41	2021	2021	NUM
framr-1741	23	42	vol	vol	NOUN
framr-1741	23	43	.	.	PROPN
framr-1741	24	1	7	7	NUM
framr-1741	24	2	,	,	PUNCT
framr-1741	24	3	no	no	INTJ
framr-1741	24	4	.	.	NOUN
framr-1741	24	5	1	1	NUM
framr-1741	24	6	,	,	PUNCT
framr-1741	24	7	pp	pp	ADJ
framr-1741	24	8	.	.	PUNCT
framr-1741	25	1	1	1	NUM
framr-1741	25	2	-	-	SYM
framr-1741	25	3	15	15	NUM
framr-1741	25	4	.	.	PUNCT
framr-1741	26	1	issn(e	issn(e	INTJ
framr-1741	26	2	):	):	PUNCT
framr-1741	26	3	2411	2411	NUM
framr-1741	26	4	-	-	SYM
framr-1741	26	5	6408	6408	NUM
framr-1741	26	6	issn(p	issn(p	NUM
framr-1741	26	7	):	):	PUNCT
framr-1741	26	8	2412	2412	NUM
framr-1741	26	9	-	-	SYM
framr-1741	26	10	3404	3404	NUM
framr-1741	26	11	doi	doi	NOUN
framr-1741	26	12	:	:	PUNCT
framr-1741	26	13	10.18488	10.18488	NUM
framr-1741	26	14	/	/	SYM
framr-1741	26	15	journal.89.2021.71.1.15	journal.89.2021.71.1.15	NOUN
framr-1741	26	16	©	©	PROPN
framr-1741	26	17	2021	2021	NUM
framr-1741	26	18	conscientia	conscientia	PROPN
framr-1741	26	19	beam	beam	PROPN
framr-1741	26	20	.	.	PUNCT
framr-1741	27	1	all	all	DET
framr-1741	27	2	rights	right	NOUN
framr-1741	27	3	reserved	reserve	VERB
framr-1741	27	4	.	.	PUNCT
framr-1741	28	1	https://orcid.org/0000-0002-4731-6139	https://orcid.org/0000-0002-4731-6139	PROPN
framr-1741	28	2	https://orcid.org/0000-0001-5177-0230	https://orcid.org/0000-0001-5177-0230	VERB
framr-1741	28	3	https://www.doi.org/10.18488/journal.89.2021.71.1.15	https://www.doi.org/10.18488/journal.89.2021.71.1.15	PROPN
framr-1741	28	4	financial	financial	ADJ
framr-1741	28	5	risk	risk	NOUN
framr-1741	28	6	and	and	CCONJ
framr-1741	28	7	management	management	NOUN
framr-1741	28	8	reviews	review	NOUN
framr-1741	28	9	,	,	PUNCT
framr-1741	28	10	2021	2021	NUM
framr-1741	28	11	,	,	PUNCT
framr-1741	28	12	7(1	7(1	NUM
framr-1741	28	13	):	):	PUNCT
framr-1741	28	14	1	1	NUM
framr-1741	28	15	-	-	SYM
framr-1741	28	16	15	15	NUM
framr-1741	28	17	2	2	NUM
framr-1741	28	18	©	©	PROPN
framr-1741	28	19	2021	2021	NUM
framr-1741	28	20	conscientia	conscientia	PROPN
framr-1741	28	21	beam	beam	PROPN
framr-1741	28	22	.	.	PUNCT
framr-1741	29	1	all	all	DET
framr-1741	29	2	rights	right	NOUN
framr-1741	29	3	reserved	reserve	VERB
framr-1741	29	4	.	.	PUNCT
framr-1741	30	1	prices	price	NOUN
framr-1741	30	2	and	and	CCONJ
framr-1741	30	3	returns	return	NOUN
framr-1741	30	4	(	(	PUNCT
framr-1741	30	5	bello	bello	PROPN
framr-1741	30	6	,	,	PUNCT
framr-1741	30	7	2020	2020	NUM
framr-1741	30	8	;	;	PUNCT
framr-1741	30	9	chiang	chiang	PROPN
framr-1741	30	10	&	&	CCONJ
framr-1741	30	11	doong	doong	PROPN
framr-1741	30	12	,	,	PUNCT
framr-1741	30	13	2014	2014	NUM
framr-1741	30	14	;	;	PUNCT
framr-1741	30	15	wang	wang	PROPN
framr-1741	30	16	&	&	CCONJ
framr-1741	30	17	yang	yang	PROPN
framr-1741	30	18	,	,	PUNCT
framr-1741	30	19	2017	2017	NUM
framr-1741	30	20	)	)	PUNCT
framr-1741	30	21	.	.	PUNCT
framr-1741	31	1	consequently	consequently	ADV
framr-1741	31	2	,	,	PUNCT
framr-1741	31	3	in	in	ADP
framr-1741	31	4	a	a	DET
framr-1741	31	5	highly	highly	ADV
framr-1741	31	6	volatile	volatile	ADJ
framr-1741	31	7	stock	stock	NOUN
framr-1741	31	8	market	market	NOUN
framr-1741	31	9	,	,	PUNCT
framr-1741	31	10	it	it	PRON
framr-1741	31	11	is	be	AUX
framr-1741	31	12	difficult	difficult	ADJ
framr-1741	31	13	for	for	SCONJ
framr-1741	31	14	quoted	quote	VERB
framr-1741	31	15	companies	company	NOUN
framr-1741	31	16	to	to	PART
framr-1741	31	17	raise	raise	VERB
framr-1741	31	18	sufficient	sufficient	ADJ
framr-1741	31	19	funds	fund	NOUN
framr-1741	31	20	as	as	SCONJ
framr-1741	31	21	rational	rational	ADJ
framr-1741	31	22	investors	investor	NOUN
framr-1741	31	23	prefer	prefer	VERB
framr-1741	31	24	stocks	stock	NOUN
framr-1741	31	25	with	with	ADP
framr-1741	31	26	less	less	ADV
framr-1741	31	27	volatile	volatile	ADJ
framr-1741	31	28	returns	return	NOUN
framr-1741	31	29	/	/	SYM
framr-1741	31	30	prices	price	NOUN
framr-1741	31	31	unlike	unlike	ADP
framr-1741	31	32	the	the	DET
framr-1741	31	33	risk	risk	NOUN
framr-1741	31	34	takers	taker	NOUN
framr-1741	31	35	(	(	PUNCT
framr-1741	31	36	onyele	onyele	PROPN
framr-1741	31	37	,	,	PUNCT
framr-1741	31	38	opara	opara	NOUN
framr-1741	31	39	,	,	PUNCT
framr-1741	31	40	&	&	CCONJ
framr-1741	31	41	ikwuagwu	ikwuagwu	PROPN
framr-1741	31	42	,	,	PUNCT
framr-1741	31	43	2017	2017	NUM
framr-1741	31	44	)	)	PUNCT
framr-1741	31	45	.	.	PUNCT
framr-1741	32	1	though	though	ADV
framr-1741	32	2	,	,	PUNCT
framr-1741	32	3	returns	return	VERB
framr-1741	32	4	volatility	volatility	NOUN
framr-1741	32	5	in	in	ADP
framr-1741	32	6	the	the	DET
framr-1741	32	7	stock	stock	NOUN
framr-1741	32	8	market	market	NOUN
framr-1741	32	9	may	may	AUX
framr-1741	32	10	not	not	PART
framr-1741	32	11	necessarily	necessarily	ADV
framr-1741	32	12	be	be	AUX
framr-1741	32	13	destructive	destructive	ADJ
framr-1741	32	14	all	all	DET
framr-1741	32	15	the	the	DET
framr-1741	32	16	time	time	NOUN
framr-1741	32	17	,	,	PUNCT
framr-1741	32	18	but	but	CCONJ
framr-1741	32	19	volatility	volatility	NOUN
framr-1741	32	20	persistence	persistence	NOUN
framr-1741	32	21	in	in	ADP
framr-1741	32	22	market	market	NOUN
framr-1741	32	23	returns	return	NOUN
framr-1741	32	24	,	,	PUNCT
framr-1741	32	25	especially	especially	ADV
framr-1741	32	26	in	in	ADP
framr-1741	32	27	developed	develop	VERB
framr-1741	32	28	markets	market	NOUN
framr-1741	32	29	will	will	AUX
framr-1741	32	30	likely	likely	ADV
framr-1741	32	31	lead	lead	VERB
framr-1741	32	32	to	to	ADP
framr-1741	32	33	a	a	DET
framr-1741	32	34	crash	crash	NOUN
framr-1741	32	35	in	in	ADP
framr-1741	32	36	the	the	DET
framr-1741	32	37	global	global	ADJ
framr-1741	32	38	financial	financial	ADJ
framr-1741	32	39	market	market	NOUN
framr-1741	32	40	due	due	ADP
framr-1741	32	41	to	to	ADP
framr-1741	32	42	increasing	increase	VERB
framr-1741	32	43	financial	financial	ADJ
framr-1741	32	44	integration	integration	NOUN
framr-1741	32	45	(	(	PUNCT
framr-1741	32	46	onyele	onyele	PROPN
framr-1741	32	47	.	.	PUNCT
framr-1741	32	48	&	&	CCONJ
framr-1741	32	49	ikwuagwu	ikwuagwu	PROPN
framr-1741	32	50	,	,	PUNCT
framr-1741	32	51	2020	2020	NUM
framr-1741	32	52	)	)	PUNCT
framr-1741	32	53	.	.	PUNCT
framr-1741	33	1	volatility	volatility	NOUN
framr-1741	33	2	of	of	ADP
framr-1741	33	3	stock	stock	NOUN
framr-1741	33	4	returns	return	NOUN
framr-1741	33	5	is	be	AUX
framr-1741	33	6	majorly	majorly	ADV
framr-1741	33	7	triggered	trigger	VERB
framr-1741	33	8	by	by	ADP
framr-1741	33	9	investors	investor	NOUN
framr-1741	33	10	’	’	PART
framr-1741	33	11	expectations	expectation	NOUN
framr-1741	33	12	and	and	CCONJ
framr-1741	33	13	perceptions	perception	NOUN
framr-1741	33	14	of	of	ADP
framr-1741	33	15	daily	daily	ADJ
framr-1741	33	16	information	information	NOUN
framr-1741	33	17	(	(	PUNCT
framr-1741	33	18	news	news	NOUN
framr-1741	33	19	effect	effect	NOUN
framr-1741	33	20	)	)	PUNCT
framr-1741	33	21	in	in	ADP
framr-1741	33	22	the	the	DET
framr-1741	33	23	market	market	NOUN
framr-1741	33	24	.	.	PUNCT
framr-1741	34	1	when	when	SCONJ
framr-1741	34	2	there	there	PRON
framr-1741	34	3	is	be	VERB
framr-1741	34	4	upsurge	upsurge	ADJ
framr-1741	34	5	in	in	ADP
framr-1741	34	6	returns	return	NOUN
framr-1741	34	7	volatility	volatility	NOUN
framr-1741	34	8	as	as	ADP
framr-1741	34	9	a	a	DET
framr-1741	34	10	result	result	NOUN
framr-1741	34	11	of	of	ADP
framr-1741	34	12	news	news	NOUN
framr-1741	34	13	effect	effect	NOUN
framr-1741	34	14	,	,	PUNCT
framr-1741	34	15	efficiency	efficiency	NOUN
framr-1741	34	16	and	and	CCONJ
framr-1741	34	17	liquidity	liquidity	NOUN
framr-1741	34	18	is	be	AUX
framr-1741	34	19	altered	alter	VERB
framr-1741	34	20	as	as	SCONJ
framr-1741	34	21	market	market	NOUN
framr-1741	34	22	participants	participant	NOUN
framr-1741	34	23	receive	receive	VERB
framr-1741	34	24	the	the	DET
framr-1741	34	25	news	news	NOUN
framr-1741	34	26	with	with	ADP
framr-1741	34	27	different	different	ADJ
framr-1741	34	28	mindset	mindset	NOUN
framr-1741	34	29	(	(	PUNCT
framr-1741	34	30	ho	ho	PROPN
framr-1741	34	31	&	&	CCONJ
framr-1741	34	32	hung	hung	PROPN
framr-1741	34	33	,	,	PUNCT
framr-1741	34	34	2012	2012	NUM
framr-1741	34	35	)	)	PUNCT
framr-1741	34	36	.	.	PUNCT
framr-1741	35	1	in	in	ADP
framr-1741	35	2	reality	reality	NOUN
framr-1741	35	3	,	,	PUNCT
framr-1741	35	4	however	however	ADV
framr-1741	35	5	,	,	PUNCT
framr-1741	35	6	bad	bad	ADJ
framr-1741	35	7	news	news	NOUN
framr-1741	35	8	will	will	AUX
framr-1741	35	9	accelerate	accelerate	VERB
framr-1741	35	10	returns	return	NOUN
framr-1741	35	11	volatility	volatility	NOUN
framr-1741	35	12	more	more	ADJ
framr-1741	35	13	than	than	ADP
framr-1741	35	14	good	good	ADJ
framr-1741	35	15	news	news	NOUN
framr-1741	35	16	which	which	PRON
framr-1741	35	17	may	may	AUX
framr-1741	35	18	be	be	AUX
framr-1741	35	19	interpreted	interpret	VERB
framr-1741	35	20	by	by	ADP
framr-1741	35	21	investors	investor	NOUN
framr-1741	35	22	as	as	ADP
framr-1741	35	23	higher	high	ADJ
framr-1741	35	24	risk	risk	NOUN
framr-1741	35	25	-	-	PUNCT
framr-1741	35	26	return	return	NOUN
framr-1741	35	27	tradeoff	tradeoff	NOUN
framr-1741	35	28	(	(	PUNCT
framr-1741	35	29	jegageevan	jegageevan	NOUN
framr-1741	35	30	,	,	PUNCT
framr-1741	35	31	2015	2015	NUM
framr-1741	35	32	)	)	PUNCT
framr-1741	35	33	.	.	PUNCT
framr-1741	36	1	since	since	SCONJ
framr-1741	36	2	returns	return	NOUN
framr-1741	36	3	on	on	ADP
framr-1741	36	4	financial	financial	ADJ
framr-1741	36	5	assets	asset	NOUN
framr-1741	36	6	is	be	AUX
framr-1741	36	7	a	a	DET
framr-1741	36	8	function	function	NOUN
framr-1741	36	9	of	of	ADP
framr-1741	36	10	the	the	DET
framr-1741	36	11	market	market	NOUN
framr-1741	36	12	risk	risk	NOUN
framr-1741	36	13	,	,	PUNCT
framr-1741	36	14	risk	risk	NOUN
framr-1741	36	15	takers	taker	NOUN
framr-1741	36	16	are	be	AUX
framr-1741	36	17	expected	expect	VERB
framr-1741	36	18	to	to	PART
framr-1741	36	19	receive	receive	VERB
framr-1741	36	20	a	a	DET
framr-1741	36	21	rate	rate	NOUN
framr-1741	36	22	of	of	ADP
framr-1741	36	23	return	return	NOUN
framr-1741	36	24	that	that	PRON
framr-1741	36	25	will	will	AUX
framr-1741	36	26	compensate	compensate	VERB
framr-1741	36	27	for	for	ADP
framr-1741	36	28	the	the	DET
framr-1741	36	29	risk	risk	NOUN
framr-1741	36	30	taken	take	VERB
framr-1741	36	31	in	in	ADP
framr-1741	36	32	making	make	VERB
framr-1741	36	33	such	such	ADJ
framr-1741	36	34	long	long	ADJ
framr-1741	36	35	-	-	PUNCT
framr-1741	36	36	term	term	NOUN
framr-1741	36	37	funds	fund	NOUN
framr-1741	36	38	(	(	PUNCT
framr-1741	36	39	such	such	ADJ
framr-1741	36	40	as	as	ADP
framr-1741	36	41	,	,	PUNCT
framr-1741	36	42	debentures	debenture	NOUN
framr-1741	36	43	,	,	PUNCT
framr-1741	36	44	common	common	ADJ
framr-1741	36	45	share	share	NOUN
framr-1741	36	46	,	,	PUNCT
framr-1741	36	47	bond	bond	NOUN
framr-1741	36	48	and	and	CCONJ
framr-1741	36	49	mortgage	mortgage	NOUN
framr-1741	36	50	loan	loan	NOUN
framr-1741	36	51	)	)	PUNCT
framr-1741	36	52	available	available	ADJ
framr-1741	36	53	to	to	ADP
framr-1741	36	54	economic	economic	ADJ
framr-1741	36	55	units	unit	NOUN
framr-1741	36	56	(	(	PUNCT
framr-1741	36	57	edem	edem	PROPN
framr-1741	36	58	&	&	CCONJ
framr-1741	36	59	ogbonna	ogbonna	PROPN
framr-1741	36	60	,	,	PUNCT
framr-1741	36	61	2020	2020	NUM
framr-1741	36	62	)	)	PUNCT
framr-1741	36	63	.	.	PUNCT
framr-1741	37	1	this	this	PRON
framr-1741	37	2	explains	explain	VERB
framr-1741	37	3	the	the	DET
framr-1741	37	4	long	long	ADJ
framr-1741	37	5	age	age	NOUN
framr-1741	37	6	maxim	maxim	NOUN
framr-1741	37	7	of	of	ADP
framr-1741	37	8	efficient	efficient	ADJ
framr-1741	37	9	market	market	NOUN
framr-1741	37	10	hypothesis	hypothesis	NOUN
framr-1741	37	11	(	(	PUNCT
framr-1741	37	12	emh	emh	PROPN
framr-1741	37	13	)	)	PUNCT
framr-1741	37	14	that	that	SCONJ
framr-1741	37	15	all	all	DET
framr-1741	37	16	available	available	ADJ
framr-1741	37	17	information	information	NOUN
framr-1741	37	18	is	be	AUX
framr-1741	37	19	correctly	correctly	ADV
framr-1741	37	20	reflected	reflect	VERB
framr-1741	37	21	in	in	ADP
framr-1741	37	22	stock	stock	NOUN
framr-1741	37	23	prices	price	NOUN
framr-1741	37	24	and	and	CCONJ
framr-1741	37	25	thus	thus	ADV
framr-1741	37	26	stock	stock	NOUN
framr-1741	37	27	prices	price	NOUN
framr-1741	37	28	rapidly	rapidly	ADV
framr-1741	37	29	react	react	VERB
framr-1741	37	30	to	to	ADP
framr-1741	37	31	any	any	DET
framr-1741	37	32	novel	novel	ADJ
framr-1741	37	33	information	information	NOUN
framr-1741	37	34	at	at	ADP
framr-1741	37	35	the	the	DET
framr-1741	37	36	moment	moment	NOUN
framr-1741	37	37	it	it	PRON
framr-1741	37	38	reaches	reach	VERB
framr-1741	37	39	the	the	DET
framr-1741	37	40	market	market	NOUN
framr-1741	37	41	participants	participant	NOUN
framr-1741	37	42	(	(	PUNCT
framr-1741	37	43	brealey	brealey	PROPN
framr-1741	37	44	&	&	CCONJ
framr-1741	37	45	meyers	meyer	NOUN
framr-1741	37	46	,	,	PUNCT
framr-1741	37	47	2003	2003	NUM
framr-1741	37	48	)	)	PUNCT
framr-1741	37	49	.	.	PUNCT
framr-1741	38	1	this	this	DET
framr-1741	38	2	informational	informational	ADJ
framr-1741	38	3	fundamental	fundamental	ADJ
framr-1741	38	4	comprise	comprise	NOUN
framr-1741	38	5	changes	change	NOUN
framr-1741	38	6	to	to	ADP
framr-1741	38	7	firms	firm	NOUN
framr-1741	38	8	’	'	PUNCT
framr-1741	38	9	operations	operation	NOUN
framr-1741	38	10	,	,	PUNCT
framr-1741	38	11	modifications	modification	NOUN
framr-1741	38	12	in	in	ADP
framr-1741	38	13	macroeconomic	macroeconomic	ADJ
framr-1741	38	14	policies	policy	NOUN
framr-1741	38	15	,	,	PUNCT
framr-1741	38	16	twist	twist	NOUN
framr-1741	38	17	in	in	ADP
framr-1741	38	18	the	the	DET
framr-1741	38	19	level	level	NOUN
framr-1741	38	20	of	of	ADP
framr-1741	38	21	investors	investor	NOUN
framr-1741	38	22	’	’	PART
framr-1741	38	23	risk	risk	NOUN
framr-1741	38	24	-	-	PUNCT
framr-1741	38	25	return	return	NOUN
framr-1741	38	26	preference	preference	NOUN
framr-1741	38	27	,	,	PUNCT
framr-1741	38	28	financial	financial	ADJ
framr-1741	38	29	integration	integration	NOUN
framr-1741	38	30	,	,	PUNCT
framr-1741	38	31	natural	natural	ADJ
framr-1741	38	32	disaster	disaster	NOUN
framr-1741	38	33	,	,	PUNCT
framr-1741	38	34	etc	etc	X
framr-1741	38	35	.	.	X
framr-1741	39	1	(	(	PUNCT
framr-1741	39	2	onyele	onyele	PROPN
framr-1741	39	3	,	,	PUNCT
framr-1741	39	4	ikwuagwu	ikwuagwu	PROPN
framr-1741	39	5	,	,	PUNCT
framr-1741	39	6	&	&	CCONJ
framr-1741	39	7	onyekachi	onyekachi	PROPN
framr-1741	39	8	-	-	PUNCT
framr-1741	39	9	onyele	onyele	PROPN
framr-1741	39	10	,	,	PUNCT
framr-1741	39	11	2020	2020	NUM
framr-1741	39	12	;	;	PUNCT
framr-1741	39	13	sansa	sansa	PROPN
framr-1741	39	14	,	,	PUNCT
framr-1741	39	15	2020	2020	NUM
framr-1741	39	16	)	)	PUNCT
framr-1741	39	17	.	.	PUNCT
framr-1741	40	1	myriad	myriad	NOUN
framr-1741	40	2	of	of	ADP
framr-1741	40	3	studies	study	NOUN
framr-1741	40	4	has	have	AUX
framr-1741	40	5	indicated	indicate	VERB
framr-1741	40	6	that	that	SCONJ
framr-1741	40	7	stock	stock	NOUN
framr-1741	40	8	markets	market	NOUN
framr-1741	40	9	at	at	ADP
framr-1741	40	10	different	different	ADJ
framr-1741	40	11	time	time	NOUN
framr-1741	40	12	period	period	NOUN
framr-1741	40	13	exhibits	exhibit	VERB
framr-1741	40	14	volatility	volatility	NOUN
framr-1741	40	15	persistence	persistence	NOUN
framr-1741	40	16	,	,	PUNCT
framr-1741	40	17	riskreturn	riskreturn	VERB
framr-1741	40	18	tradeoff	tradeoff	NOUN
framr-1741	40	19	or	or	CCONJ
framr-1741	40	20	asymmetric	asymmetric	ADJ
framr-1741	40	21	news	news	NOUN
framr-1741	40	22	effects	effect	NOUN
framr-1741	40	23	;	;	PUNCT
framr-1741	40	24	hence	hence	ADV
framr-1741	40	25	,	,	PUNCT
framr-1741	40	26	it	it	PRON
framr-1741	40	27	can	can	AUX
framr-1741	40	28	be	be	AUX
framr-1741	40	29	said	say	VERB
framr-1741	40	30	that	that	SCONJ
framr-1741	40	31	no	no	DET
framr-1741	40	32	conclusive	conclusive	ADJ
framr-1741	40	33	model	model	NOUN
framr-1741	40	34	can	can	AUX
framr-1741	40	35	fit	fit	VERB
framr-1741	40	36	every	every	DET
framr-1741	40	37	stock	stock	NOUN
framr-1741	40	38	market	market	NOUN
framr-1741	40	39	all	all	DET
framr-1741	40	40	the	the	DET
framr-1741	40	41	time	time	NOUN
framr-1741	40	42	.	.	PUNCT
framr-1741	41	1	notwithstanding	notwithstanding	ADP
framr-1741	41	2	,	,	PUNCT
framr-1741	41	3	enormous	enormous	ADJ
framr-1741	41	4	studies	study	NOUN
framr-1741	41	5	has	have	AUX
framr-1741	41	6	been	be	AUX
framr-1741	41	7	done	do	VERB
framr-1741	41	8	for	for	ADP
framr-1741	41	9	developed	develop	VERB
framr-1741	41	10	stock	stock	NOUN
framr-1741	41	11	markets	market	NOUN
framr-1741	41	12	such	such	ADJ
framr-1741	41	13	as	as	ADP
framr-1741	41	14	the	the	DET
framr-1741	41	15	united	united	PROPN
framr-1741	41	16	states	states	PROPN
framr-1741	41	17	,	,	PUNCT
framr-1741	41	18	united	united	ADJ
framr-1741	41	19	kingdom	kingdom	PROPN
framr-1741	41	20	,	,	PUNCT
framr-1741	41	21	japan	japan	PROPN
framr-1741	41	22	,	,	PUNCT
framr-1741	41	23	etc	etc	X
framr-1741	41	24	.	.	X
framr-1741	42	1	while	while	SCONJ
framr-1741	42	2	some	some	DET
framr-1741	42	3	other	other	ADJ
framr-1741	42	4	studies	study	NOUN
framr-1741	42	5	focused	focus	VERB
framr-1741	42	6	on	on	ADP
framr-1741	42	7	emerging	emerge	VERB
framr-1741	42	8	stock	stock	NOUN
framr-1741	42	9	markets	market	NOUN
framr-1741	42	10	like	like	ADP
framr-1741	42	11	china	china	PROPN
framr-1741	42	12	,	,	PUNCT
framr-1741	42	13	india	india	PROPN
framr-1741	42	14	,	,	PUNCT
framr-1741	42	15	etc	etc	X
framr-1741	42	16	.	.	X
framr-1741	42	17	(	(	PUNCT
framr-1741	42	18	see	see	VERB
framr-1741	42	19	,	,	PUNCT
framr-1741	42	20	(	(	PUNCT
framr-1741	42	21	banumathy	banumathy	PROPN
framr-1741	42	22	&	&	CCONJ
framr-1741	42	23	azhagaiah	azhagaiah	PROPN
framr-1741	42	24	,	,	PUNCT
framr-1741	42	25	2015	2015	NUM
framr-1741	42	26	;	;	PUNCT
framr-1741	42	27	caporale	caporale	NOUN
framr-1741	42	28	,	,	PUNCT
framr-1741	42	29	karanasos	karanaso	NOUN
framr-1741	42	30	,	,	PUNCT
framr-1741	42	31	yfanti	yfanti	ADJ
framr-1741	42	32	,	,	PUNCT
framr-1741	42	33	&	&	CCONJ
framr-1741	42	34	kartsaklas	kartsaklas	PROPN
framr-1741	42	35	,	,	PUNCT
framr-1741	42	36	2019	2019	NUM
framr-1741	42	37	;	;	PUNCT
framr-1741	42	38	khedhiri	khedhiri	PROPN
framr-1741	42	39	,	,	PUNCT
framr-1741	42	40	2008	2008	NUM
framr-1741	42	41	;	;	PUNCT
framr-1741	42	42	lai	lai	PROPN
framr-1741	42	43	,	,	PUNCT
framr-1741	42	44	cheong	cheong	PROPN
framr-1741	42	45	,	,	PUNCT
framr-1741	42	46	&	&	CCONJ
framr-1741	42	47	lee	lee	PROPN
framr-1741	42	48	,	,	PUNCT
framr-1741	42	49	2019	2019	NUM
framr-1741	42	50	;	;	PUNCT
framr-1741	42	51	wei	wei	PROPN
framr-1741	42	52	,	,	PUNCT
framr-1741	42	53	2009	2009	NUM
framr-1741	42	54	)	)	PUNCT
framr-1741	42	55	)	)	PUNCT
framr-1741	43	1	.	.	PUNCT
framr-1741	44	1	in	in	ADP
framr-1741	44	2	the	the	DET
framr-1741	44	3	developing	develop	VERB
framr-1741	44	4	markets	market	NOUN
framr-1741	44	5	of	of	ADP
framr-1741	44	6	africa	africa	PROPN
framr-1741	44	7	,	,	PUNCT
framr-1741	44	8	there	there	PRON
framr-1741	44	9	have	have	AUX
framr-1741	44	10	been	be	AUX
framr-1741	44	11	research	research	NOUN
framr-1741	44	12	efforts	effort	NOUN
framr-1741	44	13	towards	towards	ADP
framr-1741	44	14	modelling	model	VERB
framr-1741	44	15	volatility	volatility	NOUN
framr-1741	44	16	of	of	ADP
framr-1741	44	17	stock	stock	NOUN
framr-1741	44	18	market	market	NOUN
framr-1741	44	19	returns	return	NOUN
framr-1741	44	20	and	and	CCONJ
framr-1741	44	21	asymmetries	asymmetry	NOUN
framr-1741	44	22	in	in	ADP
framr-1741	44	23	nigeria	nigeria	PROPN
framr-1741	44	24	,	,	PUNCT
framr-1741	44	25	south	south	PROPN
framr-1741	44	26	africa	africa	PROPN
framr-1741	44	27	,	,	PUNCT
framr-1741	44	28	kenya	kenya	PROPN
framr-1741	44	29	,	,	PUNCT
framr-1741	44	30	morocco	morocco	PROPN
framr-1741	44	31	,	,	PUNCT
framr-1741	44	32	egypt	egypt	PROPN
framr-1741	44	33	,	,	PUNCT
framr-1741	44	34	etc	etc	X
framr-1741	44	35	.	.	X
framr-1741	45	1	(	(	PUNCT
framr-1741	45	2	bello	bello	PROPN
framr-1741	45	3	,	,	PUNCT
framr-1741	45	4	2020	2020	NUM
framr-1741	45	5	;	;	PUNCT
framr-1741	45	6	jebari	jebari	PROPN
framr-1741	45	7	&	&	CCONJ
framr-1741	45	8	hakmaoui	hakmaoui	PROPN
framr-1741	45	9	,	,	PUNCT
framr-1741	45	10	2017	2017	NUM
framr-1741	45	11	;	;	PUNCT
framr-1741	45	12	kuhe	kuhe	PROPN
framr-1741	45	13	,	,	PUNCT
framr-1741	45	14	2018	2018	NUM
framr-1741	45	15	;	;	PUNCT
framr-1741	45	16	ndei	ndei	NOUN
framr-1741	45	17	,	,	PUNCT
framr-1741	45	18	muchina	muchina	ADJ
framr-1741	45	19	,	,	PUNCT
framr-1741	45	20	&	&	CCONJ
framr-1741	45	21	wawure	wawure	NOUN
framr-1741	45	22	,	,	PUNCT
framr-1741	45	23	2019	2019	NUM
framr-1741	45	24	)	)	PUNCT
framr-1741	45	25	.	.	PUNCT
framr-1741	46	1	these	these	DET
framr-1741	46	2	empirical	empirical	ADJ
framr-1741	46	3	studies	study	NOUN
framr-1741	46	4	,	,	PUNCT
framr-1741	46	5	though	though	SCONJ
framr-1741	46	6	with	with	ADP
framr-1741	46	7	varying	vary	VERB
framr-1741	46	8	findings	finding	NOUN
framr-1741	46	9	,	,	PUNCT
framr-1741	46	10	used	use	VERB
framr-1741	46	11	country	country	NOUN
framr-1741	46	12	specific	specific	ADJ
framr-1741	46	13	market	market	NOUN
framr-1741	46	14	indices	index	NOUN
framr-1741	46	15	(	(	PUNCT
framr-1741	46	16	such	such	ADJ
framr-1741	46	17	as	as	ADP
framr-1741	46	18	,	,	PUNCT
framr-1741	46	19	the	the	DET
framr-1741	46	20	dow	dow	PROPN
framr-1741	46	21	jones	jones	PROPN
framr-1741	46	22	,	,	PUNCT
framr-1741	46	23	s&p	s&p	PROPN
framr-1741	46	24	500	500	NUM
framr-1741	46	25	,	,	PUNCT
framr-1741	46	26	ftse	ftse	VERB
framr-1741	46	27	100	100	NUM
framr-1741	46	28	,	,	PUNCT
framr-1741	46	29	nikkei	nikkei	PROPN
framr-1741	46	30	index	index	PROPN
framr-1741	46	31	,	,	PUNCT
framr-1741	46	32	nifty	nifty	ADJ
framr-1741	46	33	index	index	NOUN
framr-1741	46	34	,	,	PUNCT
framr-1741	46	35	nse	nse	NOUN
framr-1741	46	36	index	index	NOUN
framr-1741	46	37	,	,	PUNCT
framr-1741	46	38	etc	etc	X
framr-1741	46	39	.	.	X
framr-1741	46	40	)	)	PUNCT
framr-1741	47	1	but	but	CCONJ
framr-1741	47	2	the	the	DET
framr-1741	47	3	current	current	ADJ
framr-1741	47	4	study	study	NOUN
framr-1741	47	5	confirmed	confirm	VERB
framr-1741	47	6	the	the	DET
framr-1741	47	7	stylized	stylize	VERB
framr-1741	47	8	facts	fact	NOUN
framr-1741	47	9	using	use	VERB
framr-1741	47	10	the	the	DET
framr-1741	47	11	s&p	s&p	PROPN
framr-1741	47	12	global	global	ADJ
framr-1741	47	13	1200	1200	NUM
framr-1741	47	14	index	index	NOUN
framr-1741	47	15	that	that	PRON
framr-1741	47	16	represents	represent	VERB
framr-1741	47	17	a	a	DET
framr-1741	47	18	free	free	ADJ
framr-1741	47	19	-	-	PUNCT
framr-1741	47	20	float	float	NOUN
framr-1741	47	21	weighted	weight	VERB
framr-1741	47	22	stock	stock	NOUN
framr-1741	47	23	market	market	NOUN
framr-1741	47	24	index	index	NOUN
framr-1741	47	25	of	of	ADP
framr-1741	47	26	global	global	ADJ
framr-1741	47	27	equities	equity	NOUN
framr-1741	47	28	covering	cover	VERB
framr-1741	47	29	seven	seven	NUM
framr-1741	47	30	(	(	PUNCT
framr-1741	47	31	7	7	NUM
framr-1741	47	32	)	)	PUNCT
framr-1741	47	33	regional	regional	ADJ
framr-1741	47	34	stock	stock	NOUN
framr-1741	47	35	market	market	NOUN
framr-1741	47	36	indices	index	NOUN
framr-1741	47	37	and	and	CCONJ
framr-1741	47	38	approximately	approximately	ADV
framr-1741	47	39	70	70	NUM
framr-1741	47	40	%	%	NOUN
framr-1741	47	41	of	of	ADP
framr-1741	47	42	the	the	DET
framr-1741	47	43	global	global	ADJ
framr-1741	47	44	market	market	NOUN
framr-1741	47	45	capitalization	capitalization	NOUN
framr-1741	47	46	.	.	PUNCT
framr-1741	48	1	in	in	ADP
framr-1741	48	2	view	view	NOUN
framr-1741	48	3	of	of	ADP
framr-1741	48	4	this	this	DET
framr-1741	48	5	research	research	NOUN
framr-1741	48	6	gap	gap	NOUN
framr-1741	48	7	,	,	PUNCT
framr-1741	48	8	the	the	DET
framr-1741	48	9	main	main	ADJ
framr-1741	48	10	goal	goal	NOUN
framr-1741	48	11	of	of	ADP
framr-1741	48	12	this	this	DET
framr-1741	48	13	paper	paper	NOUN
framr-1741	48	14	is	be	AUX
framr-1741	48	15	to	to	PART
framr-1741	48	16	model	model	VERB
framr-1741	48	17	stock	stock	NOUN
framr-1741	48	18	returns	return	NOUN
framr-1741	48	19	volatility	volatility	NOUN
framr-1741	48	20	and	and	CCONJ
framr-1741	48	21	asymmetric	asymmetric	ADJ
framr-1741	48	22	news	news	NOUN
framr-1741	48	23	effects	effect	NOUN
framr-1741	48	24	in	in	ADP
framr-1741	48	25	the	the	DET
framr-1741	48	26	global	global	ADJ
framr-1741	48	27	stock	stock	NOUN
framr-1741	48	28	market	market	NOUN
framr-1741	48	29	using	use	VERB
framr-1741	48	30	the	the	DET
framr-1741	48	31	s&p	s&p	PROPN
framr-1741	48	32	global	global	ADJ
framr-1741	48	33	1200	1200	NUM
framr-1741	48	34	index	index	NOUN
framr-1741	48	35	.	.	PUNCT
framr-1741	49	1	the	the	DET
framr-1741	49	2	rest	rest	NOUN
framr-1741	49	3	of	of	ADP
framr-1741	49	4	the	the	DET
framr-1741	49	5	paper	paper	NOUN
framr-1741	49	6	is	be	AUX
framr-1741	49	7	organized	organize	VERB
framr-1741	49	8	as	as	SCONJ
framr-1741	49	9	follows	follow	VERB
framr-1741	49	10	;	;	PUNCT
framr-1741	49	11	section	section	NOUN
framr-1741	49	12	2	2	NUM
framr-1741	49	13	presents	present	VERB
framr-1741	49	14	the	the	DET
framr-1741	49	15	literature	literature	NOUN
framr-1741	49	16	review	review	NOUN
framr-1741	49	17	on	on	ADP
framr-1741	49	18	issues	issue	NOUN
framr-1741	49	19	concerning	concern	VERB
framr-1741	49	20	the	the	DET
framr-1741	49	21	modelling	modelling	NOUN
framr-1741	49	22	of	of	ADP
framr-1741	49	23	stock	stock	NOUN
framr-1741	49	24	market	market	NOUN
framr-1741	49	25	returns	return	VERB
framr-1741	49	26	volatility	volatility	NOUN
framr-1741	49	27	.	.	PUNCT
framr-1741	50	1	sections	section	NOUN
framr-1741	50	2	3	3	NUM
framr-1741	50	3	captures	capture	VERB
framr-1741	50	4	the	the	DET
framr-1741	50	5	model	model	NOUN
framr-1741	50	6	,	,	PUNCT
framr-1741	50	7	data	datum	NOUN
framr-1741	50	8	and	and	CCONJ
framr-1741	50	9	methodology	methodology	NOUN
framr-1741	50	10	used	use	VERB
framr-1741	50	11	for	for	ADP
framr-1741	50	12	the	the	DET
framr-1741	50	13	estimation	estimation	NOUN
framr-1741	50	14	while	while	SCONJ
framr-1741	50	15	section	section	NOUN
framr-1741	50	16	4	4	NUM
framr-1741	50	17	presents	present	VERB
framr-1741	50	18	the	the	DET
framr-1741	50	19	results	result	NOUN
framr-1741	50	20	and	and	CCONJ
framr-1741	50	21	discussions	discussion	NOUN
framr-1741	50	22	.	.	PUNCT
framr-1741	51	1	the	the	DET
framr-1741	51	2	conclusions	conclusion	NOUN
framr-1741	51	3	of	of	ADP
framr-1741	51	4	the	the	DET
framr-1741	51	5	study	study	NOUN
framr-1741	51	6	are	be	AUX
framr-1741	51	7	documented	document	VERB
framr-1741	51	8	in	in	ADP
framr-1741	51	9	section	section	NOUN
framr-1741	51	10	5	5	NUM
framr-1741	51	11	.	.	SYM
framr-1741	51	12	2	2	NUM
framr-1741	51	13	.	.	X
framr-1741	51	14	literature	literature	NOUN
framr-1741	51	15	review	review	VERB
framr-1741	51	16	2.1	2.1	NUM
framr-1741	51	17	.	.	PUNCT
framr-1741	52	1	stylized	stylize	VERB
framr-1741	52	2	facts	fact	NOUN
framr-1741	52	3	there	there	PRON
framr-1741	52	4	are	be	VERB
framr-1741	52	5	quite	quite	DET
framr-1741	52	6	a	a	DET
framr-1741	52	7	number	number	NOUN
framr-1741	52	8	of	of	ADP
framr-1741	52	9	stylized	stylize	VERB
framr-1741	52	10	facts	fact	NOUN
framr-1741	52	11	regarding	regard	VERB
framr-1741	52	12	volatility	volatility	NOUN
framr-1741	52	13	of	of	ADP
framr-1741	52	14	stock	stock	NOUN
framr-1741	52	15	market	market	NOUN
framr-1741	52	16	returns	return	NOUN
framr-1741	52	17	that	that	PRON
framr-1741	52	18	has	have	AUX
framr-1741	52	19	been	be	AUX
framr-1741	52	20	confirmed	confirm	VERB
framr-1741	52	21	by	by	ADP
framr-1741	52	22	prior	prior	ADJ
framr-1741	52	23	studies	study	NOUN
framr-1741	52	24	.	.	PUNCT
framr-1741	53	1	consequently	consequently	ADV
framr-1741	53	2	,	,	PUNCT
framr-1741	53	3	a	a	DET
framr-1741	53	4	good	good	ADJ
framr-1741	53	5	volatility	volatility	NOUN
framr-1741	53	6	model	model	NOUN
framr-1741	53	7	should	should	AUX
framr-1741	53	8	reflect	reflect	VERB
framr-1741	53	9	these	these	DET
framr-1741	53	10	stylized	stylize	VERB
framr-1741	53	11	facts	fact	NOUN
framr-1741	53	12	to	to	ADP
framr-1741	53	13	a	a	DET
framr-1741	53	14	large	large	ADJ
framr-1741	53	15	extent	extent	NOUN
framr-1741	53	16	.	.	PUNCT
framr-1741	54	1	features	feature	NOUN
framr-1741	54	2	of	of	ADP
framr-1741	54	3	stock	stock	NOUN
framr-1741	54	4	returns	return	NOUN
framr-1741	54	5	series	series	NOUN
framr-1741	54	6	such	such	ADJ
framr-1741	54	7	as	as	ADP
framr-1741	54	8	volatility	volatility	NOUN
framr-1741	54	9	clustering	clustering	NOUN
framr-1741	54	10	,	,	PUNCT
framr-1741	54	11	volatility	volatility	NOUN
framr-1741	54	12	persistence	persistence	NOUN
framr-1741	54	13	,	,	PUNCT
framr-1741	54	14	risk	risk	NOUN
framr-1741	54	15	-	-	PUNCT
framr-1741	54	16	return	return	NOUN
framr-1741	54	17	tradeoff	tradeoff	NOUN
framr-1741	54	18	and	and	CCONJ
framr-1741	54	19	asymmetric	asymmetric	ADJ
framr-1741	54	20	news	news	NOUN
framr-1741	54	21	effect	effect	NOUN
framr-1741	54	22	(	(	PUNCT
framr-1741	54	23	leverage	leverage	NOUN
framr-1741	54	24	effect	effect	NOUN
framr-1741	54	25	)	)	PUNCT
framr-1741	54	26	has	have	AUX
framr-1741	54	27	been	be	AUX
framr-1741	54	28	confirmed	confirm	VERB
framr-1741	54	29	in	in	ADP
framr-1741	54	30	several	several	ADJ
framr-1741	54	31	empirical	empirical	ADJ
framr-1741	54	32	works	work	NOUN
framr-1741	54	33	.	.	PUNCT
framr-1741	55	1	these	these	PRON
framr-1741	55	2	stylized	stylize	VERB
framr-1741	55	3	facts	fact	NOUN
framr-1741	55	4	have	have	AUX
framr-1741	55	5	been	be	AUX
framr-1741	55	6	discussed	discuss	VERB
framr-1741	55	7	below	below	ADV
framr-1741	55	8	as	as	SCONJ
framr-1741	55	9	follows	follow	VERB
framr-1741	55	10	:	:	PUNCT
framr-1741	55	11	financial	financial	ADJ
framr-1741	55	12	risk	risk	NOUN
framr-1741	55	13	and	and	CCONJ
framr-1741	55	14	management	management	NOUN
framr-1741	55	15	reviews	review	NOUN
framr-1741	55	16	,	,	PUNCT
framr-1741	55	17	2021	2021	NUM
framr-1741	55	18	,	,	PUNCT
framr-1741	55	19	7(1	7(1	NUM
framr-1741	55	20	):	):	PUNCT
framr-1741	55	21	1	1	NUM
framr-1741	55	22	-	-	SYM
framr-1741	55	23	15	15	NUM
framr-1741	55	24	3	3	NUM
framr-1741	55	25	©	©	PROPN
framr-1741	55	26	2021	2021	NUM
framr-1741	55	27	conscientia	conscientia	PROPN
framr-1741	55	28	beam	beam	PROPN
framr-1741	55	29	.	.	PUNCT
framr-1741	56	1	all	all	DET
framr-1741	56	2	rights	right	NOUN
framr-1741	56	3	reserved	reserve	VERB
framr-1741	56	4	.	.	PUNCT
framr-1741	57	1	a	a	DET
framr-1741	57	2	)	)	PUNCT
framr-1741	57	3	non	non	ADJ
framr-1741	57	4	-	-	ADJ
framr-1741	57	5	normal	normal	ADJ
framr-1741	57	6	distribution	distribution	NOUN
framr-1741	57	7	:	:	PUNCT
framr-1741	57	8	distribution	distribution	NOUN
framr-1741	57	9	of	of	ADP
framr-1741	57	10	stock	stock	NOUN
framr-1741	57	11	returns	return	NOUN
framr-1741	57	12	as	as	ADV
framr-1741	57	13	well	well	ADV
framr-1741	57	14	as	as	ADP
framr-1741	57	15	other	other	ADJ
framr-1741	57	16	financial	financial	ADJ
framr-1741	57	17	time	time	NOUN
framr-1741	57	18	series	series	NOUN
framr-1741	57	19	are	be	AUX
framr-1741	57	20	not	not	PART
framr-1741	57	21	normal	normal	ADJ
framr-1741	57	22	or	or	CCONJ
framr-1741	57	23	exhibits	exhibit	VERB
framr-1741	57	24	fatter	fat	ADJ
framr-1741	57	25	tails	tail	NOUN
framr-1741	57	26	also	also	ADV
framr-1741	57	27	referred	refer	VERB
framr-1741	57	28	to	to	ADP
framr-1741	57	29	as	as	ADV
framr-1741	57	30	excess	excess	ADJ
framr-1741	57	31	kurtosis	kurtosis	NOUN
framr-1741	57	32	(	(	PUNCT
framr-1741	57	33	fama	fama	NOUN
framr-1741	57	34	,	,	PUNCT
framr-1741	57	35	1995	1995	NUM
framr-1741	57	36	;	;	PUNCT
framr-1741	57	37	mandelbrot	mandelbrot	PROPN
framr-1741	57	38	,	,	PUNCT
framr-1741	57	39	1963	1963	NUM
framr-1741	57	40	)	)	PUNCT
framr-1741	57	41	.	.	PUNCT
framr-1741	58	1	hence	hence	ADV
framr-1741	58	2	,	,	PUNCT
framr-1741	58	3	stock	stock	NOUN
framr-1741	58	4	returns	return	NOUN
framr-1741	58	5	series	series	NOUN
framr-1741	58	6	are	be	AUX
framr-1741	58	7	usually	usually	ADV
framr-1741	58	8	leptokurtic	leptokurtic	ADJ
framr-1741	58	9	with	with	ADP
framr-1741	58	10	fourth	fourth	ADJ
framr-1741	58	11	moment	moment	NOUN
framr-1741	58	12	above	above	ADP
framr-1741	58	13	3	3	NUM
framr-1741	58	14	.	.	PUNCT
framr-1741	59	1	this	this	PRON
framr-1741	59	2	stylized	stylize	VERB
framr-1741	59	3	fact	fact	NOUN
framr-1741	59	4	is	be	AUX
framr-1741	59	5	common	common	ADJ
framr-1741	59	6	and	and	CCONJ
framr-1741	59	7	it	it	PRON
framr-1741	59	8	has	have	AUX
framr-1741	59	9	been	be	AUX
framr-1741	59	10	confirmed	confirm	VERB
framr-1741	59	11	by	by	ADP
framr-1741	59	12	many	many	ADJ
framr-1741	59	13	empirical	empirical	ADJ
framr-1741	59	14	studies	study	NOUN
framr-1741	59	15	.	.	PUNCT
framr-1741	60	1	b	b	X
framr-1741	60	2	)	)	PUNCT
framr-1741	60	3	volatility	volatility	NOUN
framr-1741	60	4	clustering	cluster	VERB
framr-1741	60	5	volatility	volatility	NOUN
framr-1741	60	6	clustering	clustering	NOUN
framr-1741	60	7	is	be	AUX
framr-1741	60	8	a	a	DET
framr-1741	60	9	situation	situation	NOUN
framr-1741	60	10	where	where	SCONJ
framr-1741	60	11	small	small	ADJ
framr-1741	60	12	and	and	CCONJ
framr-1741	60	13	large	large	ADJ
framr-1741	60	14	values	value	NOUN
framr-1741	60	15	(	(	PUNCT
framr-1741	60	16	of	of	ADP
framr-1741	60	17	either	either	DET
framr-1741	60	18	signs	sign	NOUN
framr-1741	60	19	)	)	PUNCT
framr-1741	60	20	in	in	ADP
framr-1741	60	21	the	the	DET
framr-1741	60	22	return	return	NOUN
framr-1741	60	23	series	series	NOUN
framr-1741	60	24	is	be	AUX
framr-1741	60	25	likely	likely	ADJ
framr-1741	60	26	to	to	PART
framr-1741	60	27	occur	occur	VERB
framr-1741	60	28	in	in	ADP
framr-1741	60	29	clusters	cluster	NOUN
framr-1741	60	30	,	,	PUNCT
framr-1741	60	31	that	that	ADV
framr-1741	60	32	is	is	ADV
framr-1741	60	33	,	,	PUNCT
framr-1741	60	34	small	small	ADJ
framr-1741	60	35	moves	move	NOUN
framr-1741	60	36	being	be	AUX
framr-1741	60	37	accompanied	accompany	VERB
framr-1741	60	38	by	by	ADP
framr-1741	60	39	large	large	ADJ
framr-1741	60	40	changes	change	NOUN
framr-1741	60	41	(	(	PUNCT
framr-1741	60	42	fama	fama	NOUN
framr-1741	60	43	,	,	PUNCT
framr-1741	60	44	1995	1995	NUM
framr-1741	60	45	;	;	PUNCT
framr-1741	60	46	mandelbrot	mandelbrot	PROPN
framr-1741	60	47	,	,	PUNCT
framr-1741	60	48	1963	1963	NUM
framr-1741	60	49	)	)	PUNCT
framr-1741	60	50	.	.	PUNCT
framr-1741	61	1	this	this	PRON
framr-1741	61	2	implies	imply	VERB
framr-1741	61	3	that	that	SCONJ
framr-1741	61	4	volatility	volatility	NOUN
framr-1741	61	5	could	could	AUX
framr-1741	61	6	be	be	AUX
framr-1741	61	7	time	time	NOUN
framr-1741	61	8	-	-	PUNCT
framr-1741	61	9	varying	vary	VERB
framr-1741	61	10	,	,	PUNCT
framr-1741	61	11	that	that	ADV
framr-1741	61	12	is	is	ADV
framr-1741	61	13	,	,	PUNCT
framr-1741	61	14	excessive	excessive	ADJ
framr-1741	61	15	volatility	volatility	NOUN
framr-1741	61	16	comes	come	VERB
framr-1741	61	17	and	and	CCONJ
framr-1741	61	18	goes	go	VERB
framr-1741	61	19	over	over	ADP
framr-1741	61	20	a	a	DET
framr-1741	61	21	period	period	NOUN
framr-1741	61	22	of	of	ADP
framr-1741	61	23	time	time	NOUN
framr-1741	61	24	(	(	PUNCT
framr-1741	61	25	arouri	arouri	PROPN
framr-1741	61	26	,	,	PUNCT
framr-1741	61	27	lahiani	lahiani	NOUN
framr-1741	61	28	,	,	PUNCT
framr-1741	61	29	lévy	lévy	ADJ
framr-1741	61	30	,	,	PUNCT
framr-1741	61	31	&	&	CCONJ
framr-1741	61	32	nguyen	nguyen	PROPN
framr-1741	61	33	,	,	PUNCT
framr-1741	61	34	2012	2012	NUM
framr-1741	61	35	;	;	PUNCT
framr-1741	62	1	cong	cong	NOUN
framr-1741	62	2	,	,	PUNCT
framr-1741	62	3	2017	2017	NUM
framr-1741	62	4	)	)	PUNCT
framr-1741	62	5	.	.	PUNCT
framr-1741	63	1	c	c	X
framr-1741	63	2	)	)	PUNCT
framr-1741	63	3	volatility	volatility	NOUN
framr-1741	63	4	persistence	persistence	NOUN
framr-1741	63	5	:	:	PUNCT
framr-1741	63	6	stock	stock	NOUN
framr-1741	63	7	returns	return	NOUN
framr-1741	63	8	volatility	volatility	NOUN
framr-1741	63	9	is	be	AUX
framr-1741	63	10	highly	highly	ADV
framr-1741	63	11	persistent	persistent	ADJ
framr-1741	63	12	or	or	CCONJ
framr-1741	63	13	has	have	VERB
framr-1741	63	14	long	long	ADJ
framr-1741	63	15	memory	memory	NOUN
framr-1741	63	16	if	if	SCONJ
framr-1741	63	17	it	it	PRON
framr-1741	63	18	is	be	AUX
framr-1741	63	19	characterized	characterize	VERB
framr-1741	63	20	by	by	ADP
framr-1741	63	21	insignificant	insignificant	ADJ
framr-1741	63	22	autocorrelations	autocorrelation	NOUN
framr-1741	63	23	of	of	ADP
framr-1741	63	24	absolute	absolute	ADJ
framr-1741	63	25	or	or	CCONJ
framr-1741	63	26	squared	squared	ADJ
framr-1741	63	27	returns	return	NOUN
framr-1741	63	28	(	(	PUNCT
framr-1741	63	29	owidi	owidi	PROPN
framr-1741	63	30	&	&	CCONJ
framr-1741	63	31	mugo	mugo	PROPN
framr-1741	63	32	-	-	PROPN
framr-1741	63	33	waweru	waweru	PROPN
framr-1741	63	34	,	,	PUNCT
framr-1741	63	35	2016	2016	NUM
framr-1741	63	36	)	)	PUNCT
framr-1741	63	37	.	.	PUNCT
framr-1741	64	1	persistence	persistence	NOUN
framr-1741	64	2	in	in	ADP
framr-1741	64	3	volatility	volatility	NOUN
framr-1741	64	4	of	of	ADP
framr-1741	64	5	stock	stock	NOUN
framr-1741	64	6	returns	return	NOUN
framr-1741	64	7	series	series	NOUN
framr-1741	64	8	majorly	majorly	ADV
framr-1741	64	9	affect	affect	VERB
framr-1741	64	10	future	future	ADJ
framr-1741	64	11	market	market	NOUN
framr-1741	64	12	volatility	volatility	NOUN
framr-1741	64	13	under	under	ADP
framr-1741	64	14	influence	influence	NOUN
framr-1741	64	15	of	of	ADP
framr-1741	64	16	shocks	shock	NOUN
framr-1741	64	17	.	.	PUNCT
framr-1741	65	1	the	the	DET
framr-1741	65	2	implication	implication	NOUN
framr-1741	65	3	of	of	ADP
framr-1741	65	4	such	such	ADJ
framr-1741	65	5	volatility	volatility	NOUN
framr-1741	65	6	persistence	persistence	NOUN
framr-1741	65	7	is	be	AUX
framr-1741	65	8	that	that	SCONJ
framr-1741	65	9	today	today	NOUN
framr-1741	65	10	’s	’s	PART
framr-1741	65	11	volatility	volatility	NOUN
framr-1741	65	12	shocks	shock	NOUN
framr-1741	65	13	will	will	AUX
framr-1741	65	14	affect	affect	VERB
framr-1741	65	15	the	the	DET
framr-1741	65	16	expectation	expectation	NOUN
framr-1741	65	17	of	of	ADP
framr-1741	65	18	volatility	volatility	NOUN
framr-1741	65	19	over	over	ADP
framr-1741	65	20	many	many	ADJ
framr-1741	65	21	periods	period	NOUN
framr-1741	65	22	in	in	ADP
framr-1741	65	23	the	the	DET
framr-1741	65	24	future	future	NOUN
framr-1741	65	25	.	.	PUNCT
framr-1741	66	1	hence	hence	ADV
framr-1741	66	2	,	,	PUNCT
framr-1741	66	3	volatility	volatility	NOUN
framr-1741	66	4	persistence	persistence	NOUN
framr-1741	66	5	is	be	AUX
framr-1741	66	6	sequentially	sequentially	ADV
framr-1741	66	7	beneficial	beneficial	ADJ
framr-1741	66	8	in	in	ADP
framr-1741	66	9	forecasting	forecast	VERB
framr-1741	66	10	future	future	ADJ
framr-1741	66	11	stock	stock	NOUN
framr-1741	66	12	returns	return	NOUN
framr-1741	66	13	.	.	PUNCT
framr-1741	67	1	d	d	X
framr-1741	67	2	)	)	PUNCT
framr-1741	67	3	returns	return	NOUN
framr-1741	67	4	are	be	AUX
framr-1741	67	5	mean	mean	VERB
framr-1741	67	6	reverting	revert	VERB
framr-1741	67	7	:	:	PUNCT
framr-1741	67	8	a	a	DET
framr-1741	67	9	mean	mean	ADJ
framr-1741	67	10	-	-	PUNCT
framr-1741	67	11	reverting	revert	VERB
framr-1741	67	12	volatility	volatility	NOUN
framr-1741	67	13	is	be	AUX
framr-1741	67	14	interpreted	interpret	VERB
framr-1741	67	15	to	to	PART
framr-1741	67	16	imply	imply	VERB
framr-1741	67	17	a	a	DET
framr-1741	67	18	level	level	NOUN
framr-1741	67	19	of	of	ADP
framr-1741	67	20	normal	normal	ADJ
framr-1741	67	21	volatility	volatility	NOUN
framr-1741	67	22	to	to	PART
framr-1741	67	23	which	which	PRON
framr-1741	67	24	volatility	volatility	NOUN
framr-1741	67	25	will	will	AUX
framr-1741	67	26	eventually	eventually	ADV
framr-1741	67	27	return	return	VERB
framr-1741	67	28	.	.	PUNCT
framr-1741	68	1	long	long	ADJ
framr-1741	68	2	-	-	PUNCT
framr-1741	68	3	run	run	NOUN
framr-1741	68	4	predictions	prediction	NOUN
framr-1741	68	5	of	of	ADP
framr-1741	68	6	volatility	volatility	NOUN
framr-1741	68	7	would	would	AUX
framr-1741	68	8	often	often	ADV
framr-1741	68	9	converge	converge	VERB
framr-1741	68	10	to	to	ADP
framr-1741	68	11	this	this	DET
framr-1741	68	12	same	same	ADJ
framr-1741	68	13	level	level	NOUN
framr-1741	68	14	of	of	ADP
framr-1741	68	15	normal	normal	ADJ
framr-1741	68	16	volatility	volatility	NOUN
framr-1741	68	17	,	,	PUNCT
framr-1741	68	18	not	not	PART
framr-1741	68	19	minding	mind	VERB
framr-1741	68	20	when	when	SCONJ
framr-1741	68	21	the	the	DET
framr-1741	68	22	predictions	prediction	NOUN
framr-1741	68	23	were	be	AUX
framr-1741	68	24	made	make	VERB
framr-1741	68	25	(	(	PUNCT
framr-1741	68	26	engle	engle	PROPN
framr-1741	68	27	&	&	CCONJ
framr-1741	68	28	patton	patton	PROPN
framr-1741	68	29	,	,	PUNCT
framr-1741	68	30	2001	2001	NUM
framr-1741	68	31	)	)	PUNCT
framr-1741	68	32	.	.	PUNCT
framr-1741	69	1	though	though	ADV
framr-1741	69	2	,	,	PUNCT
framr-1741	69	3	many	many	ADJ
framr-1741	69	4	studies	study	NOUN
framr-1741	69	5	opined	opine	VERB
framr-1741	69	6	that	that	SCONJ
framr-1741	69	7	meanreversion	meanreversion	NOUN
framr-1741	69	8	is	be	AUX
framr-1741	69	9	a	a	DET
framr-1741	69	10	feature	feature	NOUN
framr-1741	69	11	of	of	ADP
framr-1741	69	12	volatility	volatility	NOUN
framr-1741	69	13	,	,	PUNCT
framr-1741	69	14	they	they	PRON
framr-1741	69	15	might	might	AUX
framr-1741	69	16	be	be	AUX
framr-1741	69	17	differences	difference	NOUN
framr-1741	69	18	on	on	ADP
framr-1741	69	19	the	the	DET
framr-1741	69	20	level	level	NOUN
framr-1741	69	21	of	of	ADP
framr-1741	69	22	normal	normal	ADJ
framr-1741	69	23	volatility	volatility	NOUN
framr-1741	69	24	and	and	CCONJ
framr-1741	69	25	whether	whether	SCONJ
framr-1741	69	26	it	it	PRON
framr-1741	69	27	is	be	AUX
framr-1741	69	28	constant	constant	ADJ
framr-1741	69	29	over	over	ADP
framr-1741	69	30	all	all	DET
framr-1741	69	31	the	the	DET
framr-1741	69	32	time	time	NOUN
framr-1741	69	33	(	(	PUNCT
framr-1741	69	34	bello	bello	PROPN
framr-1741	69	35	,	,	PUNCT
framr-1741	69	36	2020	2020	NUM
framr-1741	69	37	;	;	PUNCT
framr-1741	69	38	owidi	owidi	PROPN
framr-1741	69	39	&	&	CCONJ
framr-1741	69	40	mugo	mugo	PROPN
framr-1741	69	41	-	-	PROPN
framr-1741	69	42	waweru	waweru	PROPN
framr-1741	69	43	,	,	PUNCT
framr-1741	69	44	2016	2016	NUM
framr-1741	69	45	)	)	PUNCT
framr-1741	69	46	.	.	PUNCT
framr-1741	70	1	e	e	X
framr-1741	70	2	)	)	PUNCT
framr-1741	70	3	asymmetric	asymmetric	ADJ
framr-1741	70	4	news	news	NOUN
framr-1741	70	5	effect	effect	NOUN
framr-1741	70	6	:	:	PUNCT
framr-1741	70	7	one	one	NUM
framr-1741	70	8	of	of	ADP
framr-1741	70	9	the	the	DET
framr-1741	70	10	assumptions	assumption	NOUN
framr-1741	70	11	of	of	ADP
framr-1741	70	12	volatility	volatility	NOUN
framr-1741	70	13	models	model	NOUN
framr-1741	70	14	is	be	AUX
framr-1741	70	15	that	that	SCONJ
framr-1741	70	16	the	the	DET
framr-1741	70	17	conditional	conditional	ADJ
framr-1741	70	18	variance	variance	NOUN
framr-1741	70	19	of	of	ADP
framr-1741	70	20	financial	financial	ADJ
framr-1741	70	21	assets	asset	NOUN
framr-1741	70	22	is	be	AUX
framr-1741	70	23	influenced	influence	VERB
framr-1741	70	24	symmetrically	symmetrically	ADV
framr-1741	70	25	by	by	ADP
framr-1741	70	26	negative	negative	ADJ
framr-1741	70	27	and	and	CCONJ
framr-1741	70	28	positive	positive	ADJ
framr-1741	70	29	innovation	innovation	NOUN
framr-1741	70	30	.	.	PUNCT
framr-1741	71	1	for	for	ADP
framr-1741	71	2	example	example	NOUN
framr-1741	71	3	,	,	PUNCT
framr-1741	71	4	the	the	DET
framr-1741	71	5	garch	garch	NOUN
framr-1741	71	6	(	(	PUNCT
framr-1741	71	7	1,1	1,1	NUM
framr-1741	71	8	)	)	PUNCT
framr-1741	71	9	model	model	NOUN
framr-1741	71	10	permits	permit	VERB
framr-1741	71	11	the	the	DET
framr-1741	71	12	variance	variance	NOUN
framr-1741	71	13	to	to	PART
framr-1741	71	14	be	be	AUX
framr-1741	71	15	influenced	influence	VERB
framr-1741	71	16	by	by	ADP
framr-1741	71	17	the	the	DET
framr-1741	71	18	square	square	NOUN
framr-1741	71	19	of	of	ADP
framr-1741	71	20	the	the	DET
framr-1741	71	21	lagged	lag	VERB
framr-1741	71	22	innovation	innovation	NOUN
framr-1741	71	23	only	only	ADV
framr-1741	71	24	,	,	PUNCT
framr-1741	71	25	totally	totally	ADV
framr-1741	71	26	ignoring	ignore	VERB
framr-1741	71	27	the	the	DET
framr-1741	71	28	effect	effect	NOUN
framr-1741	71	29	of	of	ADP
framr-1741	71	30	positive	positive	ADJ
framr-1741	71	31	or	or	CCONJ
framr-1741	71	32	negative	negative	ADJ
framr-1741	71	33	innovation	innovation	NOUN
framr-1741	71	34	.	.	PUNCT
framr-1741	72	1	regarding	regard	VERB
framr-1741	72	2	stock	stock	NOUN
framr-1741	72	3	returns	return	NOUN
framr-1741	72	4	,	,	PUNCT
framr-1741	72	5	it	it	PRON
framr-1741	72	6	is	be	AUX
framr-1741	72	7	particularly	particularly	ADV
framr-1741	72	8	said	say	VERB
framr-1741	72	9	that	that	SCONJ
framr-1741	72	10	positive	positive	ADJ
framr-1741	72	11	and	and	CCONJ
framr-1741	72	12	negative	negative	ADJ
framr-1741	72	13	shocks	shock	NOUN
framr-1741	72	14	/	/	SYM
framr-1741	72	15	news	news	NOUN
framr-1741	72	16	would	would	AUX
framr-1741	72	17	affect	affect	VERB
framr-1741	72	18	volatility	volatility	NOUN
framr-1741	72	19	(	(	PUNCT
framr-1741	72	20	wei	wei	PROPN
framr-1741	72	21	,	,	PUNCT
framr-1741	72	22	2009	2009	NUM
framr-1741	72	23	)	)	PUNCT
framr-1741	72	24	.	.	PUNCT
framr-1741	73	1	sometimes	sometimes	ADV
framr-1741	73	2	,	,	PUNCT
framr-1741	73	3	asymmetry	asymmetry	NOUN
framr-1741	73	4	is	be	AUX
framr-1741	73	5	likened	liken	VERB
framr-1741	73	6	to	to	ADP
framr-1741	73	7	a	a	DET
framr-1741	73	8	leverage	leverage	NOUN
framr-1741	73	9	effect	effect	NOUN
framr-1741	73	10	and	and	CCONJ
framr-1741	73	11	a	a	DET
framr-1741	73	12	risk	risk	NOUN
framr-1741	73	13	premium	premium	NOUN
framr-1741	73	14	(	(	PUNCT
framr-1741	73	15	risk	risk	NOUN
framr-1741	73	16	-	-	PUNCT
framr-1741	73	17	return	return	NOUN
framr-1741	73	18	tradeoff	tradeoff	NOUN
framr-1741	73	19	)	)	PUNCT
framr-1741	73	20	at	at	ADP
framr-1741	73	21	other	other	ADJ
framr-1741	73	22	times	time	NOUN
framr-1741	73	23	(	(	PUNCT
framr-1741	73	24	engle	engle	PROPN
framr-1741	73	25	&	&	CCONJ
framr-1741	73	26	patton	patton	PROPN
framr-1741	73	27	,	,	PUNCT
framr-1741	73	28	2001	2001	NUM
framr-1741	73	29	)	)	PUNCT
framr-1741	73	30	.	.	PUNCT
framr-1741	74	1	here	here	ADV
framr-1741	74	2	,	,	PUNCT
framr-1741	74	3	news	news	NOUN
framr-1741	74	4	of	of	ADP
framr-1741	74	5	higher	high	ADJ
framr-1741	74	6	volatility	volatility	NOUN
framr-1741	74	7	lowers	lower	VERB
framr-1741	74	8	demand	demand	NOUN
framr-1741	74	9	for	for	ADP
framr-1741	74	10	a	a	DET
framr-1741	74	11	particular	particular	ADJ
framr-1741	74	12	stock	stock	NOUN
framr-1741	74	13	due	due	ADP
framr-1741	74	14	to	to	ADP
framr-1741	74	15	risk	risk	NOUN
framr-1741	74	16	aversion	aversion	NOUN
framr-1741	74	17	,	,	PUNCT
framr-1741	74	18	which	which	PRON
framr-1741	74	19	is	be	AUX
framr-1741	74	20	accompanied	accompany	VERB
framr-1741	74	21	by	by	ADP
framr-1741	74	22	the	the	DET
framr-1741	74	23	increased	increase	VERB
framr-1741	74	24	volatility	volatility	NOUN
framr-1741	74	25	as	as	SCONJ
framr-1741	74	26	predicted	predict	VERB
framr-1741	74	27	by	by	ADP
framr-1741	74	28	the	the	DET
framr-1741	74	29	news	news	NOUN
framr-1741	74	30	.	.	PUNCT
framr-1741	75	1	2.2	2.2	NUM
framr-1741	75	2	.	.	PUNCT
framr-1741	76	1	theoretical	theoretical	ADJ
framr-1741	76	2	underpinning	underpinning	NOUN
framr-1741	76	3	theoretically	theoretically	ADV
framr-1741	76	4	,	,	PUNCT
framr-1741	76	5	studies	study	NOUN
framr-1741	76	6	on	on	ADP
framr-1741	76	7	stock	stock	NOUN
framr-1741	76	8	returns	return	NOUN
framr-1741	76	9	volatility	volatility	NOUN
framr-1741	76	10	are	be	AUX
framr-1741	76	11	often	often	ADV
framr-1741	76	12	anchored	anchor	VERB
framr-1741	76	13	on	on	ADP
framr-1741	76	14	the	the	DET
framr-1741	76	15	efficient	efficient	ADJ
framr-1741	76	16	market	market	NOUN
framr-1741	76	17	hypothesis	hypothesis	NOUN
framr-1741	76	18	(	(	PUNCT
framr-1741	76	19	emh	emh	PROPN
framr-1741	76	20	)	)	PUNCT
framr-1741	76	21	which	which	PRON
framr-1741	76	22	was	be	AUX
framr-1741	76	23	developed	develop	VERB
framr-1741	76	24	by	by	ADP
framr-1741	76	25	fama	fama	PROPN
framr-1741	76	26	(	(	PUNCT
framr-1741	76	27	1970	1970	NUM
framr-1741	76	28	)	)	PUNCT
framr-1741	76	29	.	.	PUNCT
framr-1741	77	1	the	the	DET
framr-1741	77	2	emh	emh	PROPN
framr-1741	77	3	explains	explain	VERB
framr-1741	77	4	why	why	SCONJ
framr-1741	77	5	stock	stock	NOUN
framr-1741	77	6	prices	price	NOUN
framr-1741	77	7	is	be	AUX
framr-1741	77	8	seen	see	VERB
framr-1741	77	9	to	to	PART
framr-1741	77	10	follow	follow	VERB
framr-1741	77	11	a	a	DET
framr-1741	77	12	random	random	ADJ
framr-1741	77	13	walk	walk	NOUN
framr-1741	77	14	.	.	PUNCT
framr-1741	78	1	according	accord	VERB
framr-1741	78	2	to	to	ADP
framr-1741	78	3	fama	fama	PROPN
framr-1741	78	4	(	(	PUNCT
framr-1741	78	5	1970	1970	NUM
framr-1741	78	6	)	)	PUNCT
framr-1741	78	7	an	an	DET
framr-1741	78	8	efficient	efficient	ADJ
framr-1741	78	9	market	market	NOUN
framr-1741	78	10	is	be	AUX
framr-1741	78	11	one	one	NUM
framr-1741	78	12	in	in	ADP
framr-1741	78	13	which	which	PRON
framr-1741	78	14	all	all	DET
framr-1741	78	15	available	available	ADJ
framr-1741	78	16	information	information	NOUN
framr-1741	78	17	are	be	AUX
framr-1741	78	18	reflected	reflect	VERB
framr-1741	78	19	in	in	ADP
framr-1741	78	20	the	the	DET
framr-1741	78	21	stock	stock	NOUN
framr-1741	78	22	prices	price	NOUN
framr-1741	78	23	.	.	PUNCT
framr-1741	79	1	according	accord	VERB
framr-1741	79	2	to	to	ADP
framr-1741	79	3	the	the	DET
framr-1741	79	4	emh	emh	NOUN
framr-1741	79	5	,	,	PUNCT
framr-1741	79	6	the	the	DET
framr-1741	79	7	intrinsic	intrinsic	ADJ
framr-1741	79	8	value	value	NOUN
framr-1741	79	9	of	of	ADP
framr-1741	79	10	shares	share	NOUN
framr-1741	79	11	and	and	CCONJ
framr-1741	79	12	other	other	ADJ
framr-1741	79	13	financial	financial	ADJ
framr-1741	79	14	assets	asset	NOUN
framr-1741	79	15	is	be	AUX
framr-1741	79	16	defined	define	VERB
framr-1741	79	17	by	by	ADP
framr-1741	79	18	the	the	DET
framr-1741	79	19	future	future	ADJ
framr-1741	79	20	discounted	discount	VERB
framr-1741	79	21	value	value	NOUN
framr-1741	79	22	of	of	ADP
framr-1741	79	23	cash	cash	NOUN
framr-1741	79	24	flows	flow	NOUN
framr-1741	79	25	accruing	accrue	VERB
framr-1741	79	26	to	to	ADP
framr-1741	79	27	investors	investor	NOUN
framr-1741	79	28	(	(	PUNCT
framr-1741	79	29	fauzel	fauzel	PROPN
framr-1741	79	30	&	&	CCONJ
framr-1741	79	31	fauzel	fauzel	PROPN
framr-1741	79	32	,	,	PUNCT
framr-1741	79	33	2016	2016	NUM
framr-1741	79	34	)	)	PUNCT
framr-1741	79	35	.	.	PUNCT
framr-1741	80	1	hence	hence	ADV
framr-1741	80	2	,	,	PUNCT
framr-1741	80	3	if	if	SCONJ
framr-1741	80	4	the	the	DET
framr-1741	80	5	stock	stock	NOUN
framr-1741	80	6	market	market	NOUN
framr-1741	80	7	is	be	AUX
framr-1741	80	8	efficient	efficient	ADJ
framr-1741	80	9	,	,	PUNCT
framr-1741	80	10	all	all	DET
framr-1741	80	11	available	available	ADJ
framr-1741	80	12	information	information	NOUN
framr-1741	80	13	must	must	AUX
framr-1741	80	14	be	be	AUX
framr-1741	80	15	reflected	reflect	VERB
framr-1741	80	16	in	in	ADP
framr-1741	80	17	stock	stock	NOUN
framr-1741	80	18	prices	price	NOUN
framr-1741	80	19	.	.	PUNCT
framr-1741	81	1	this	this	PRON
framr-1741	81	2	is	be	AUX
framr-1741	81	3	needful	needful	ADJ
framr-1741	81	4	for	for	ADP
framr-1741	81	5	the	the	DET
framr-1741	81	6	assessment	assessment	NOUN
framr-1741	81	7	of	of	ADP
framr-1741	81	8	a	a	DET
framr-1741	81	9	firm	firm	NOUN
framr-1741	81	10	’s	’s	PART
framr-1741	81	11	performance	performance	NOUN
framr-1741	81	12	in	in	ADP
framr-1741	81	13	the	the	DET
framr-1741	81	14	future	future	NOUN
framr-1741	81	15	,	,	PUNCT
framr-1741	81	16	therefore	therefore	ADV
framr-1741	81	17	the	the	DET
framr-1741	81	18	intrinsic	intrinsic	ADJ
framr-1741	81	19	and	and	CCONJ
framr-1741	81	20	market	market	NOUN
framr-1741	81	21	value	value	NOUN
framr-1741	81	22	of	of	ADP
framr-1741	81	23	a	a	DET
framr-1741	81	24	share	share	NOUN
framr-1741	81	25	should	should	AUX
framr-1741	81	26	be	be	AUX
framr-1741	81	27	equal	equal	ADJ
framr-1741	81	28	(	(	PUNCT
framr-1741	81	29	dukes	duke	NOUN
framr-1741	81	30	,	,	PUNCT
framr-1741	81	31	bowlin	bowlin	PROPN
framr-1741	81	32	,	,	PUNCT
framr-1741	81	33	&	&	CCONJ
framr-1741	81	34	macdonald	macdonald	PROPN
framr-1741	81	35	,	,	PUNCT
framr-1741	81	36	1987	1987	NUM
framr-1741	81	37	;	;	PUNCT
framr-1741	81	38	lo	lo	PROPN
framr-1741	81	39	&	&	CCONJ
framr-1741	81	40	mackinlay	mackinlay	PROPN
framr-1741	81	41	,	,	PUNCT
framr-1741	81	42	1988	1988	NUM
framr-1741	81	43	)	)	PUNCT
framr-1741	81	44	.	.	PUNCT
framr-1741	82	1	hence	hence	ADV
framr-1741	82	2	,	,	PUNCT
framr-1741	82	3	an	an	DET
framr-1741	82	4	information	information	NOUN
framr-1741	82	5	that	that	PRON
framr-1741	82	6	may	may	AUX
framr-1741	82	7	alter	alter	VERB
framr-1741	82	8	firm	firm	PROPN
framr-1741	82	9	’s	’s	PART
framr-1741	82	10	profitability	profitability	NOUN
framr-1741	82	11	in	in	ADP
framr-1741	82	12	the	the	DET
framr-1741	82	13	future	future	NOUN
framr-1741	82	14	must	must	AUX
framr-1741	82	15	be	be	AUX
framr-1741	82	16	reflected	reflect	VERB
framr-1741	82	17	in	in	ADP
framr-1741	82	18	the	the	DET
framr-1741	82	19	share	share	NOUN
framr-1741	82	20	price	price	NOUN
framr-1741	82	21	immediately	immediately	ADV
framr-1741	82	22	,	,	PUNCT
framr-1741	82	23	else	else	ADV
framr-1741	82	24	any	any	DET
framr-1741	82	25	delay	delay	NOUN
framr-1741	82	26	in	in	ADP
framr-1741	82	27	information	information	NOUN
framr-1741	82	28	diffusion	diffusion	NOUN
framr-1741	82	29	to	to	ADP
framr-1741	82	30	price	price	NOUN
framr-1741	82	31	would	would	AUX
framr-1741	82	32	lead	lead	VERB
framr-1741	82	33	to	to	ADP
framr-1741	82	34	irrationality	irrationality	NOUN
framr-1741	82	35	as	as	SCONJ
framr-1741	82	36	availability	availability	NOUN
framr-1741	82	37	of	of	ADP
framr-1741	82	38	some	some	DET
framr-1741	82	39	information	information	NOUN
framr-1741	82	40	could	could	AUX
framr-1741	82	41	be	be	AUX
framr-1741	82	42	exploited	exploit	VERB
framr-1741	82	43	to	to	PART
framr-1741	82	44	predict	predict	VERB
framr-1741	82	45	or	or	CCONJ
framr-1741	82	46	forecast	forecast	NOUN
framr-1741	82	47	profitability	profitability	NOUN
framr-1741	82	48	(	(	PUNCT
framr-1741	82	49	bohl	bohl	NOUN
framr-1741	82	50	&	&	CCONJ
framr-1741	82	51	henke	henke	PROPN
framr-1741	82	52	,	,	PUNCT
framr-1741	82	53	2003	2003	NUM
framr-1741	82	54	;	;	PUNCT
framr-1741	82	55	financial	financial	ADJ
framr-1741	82	56	risk	risk	NOUN
framr-1741	82	57	and	and	CCONJ
framr-1741	82	58	management	management	NOUN
framr-1741	82	59	reviews	review	NOUN
framr-1741	82	60	,	,	PUNCT
framr-1741	82	61	2021	2021	NUM
framr-1741	82	62	,	,	PUNCT
framr-1741	82	63	7(1	7(1	NUM
framr-1741	82	64	):	):	PUNCT
framr-1741	82	65	1	1	NUM
framr-1741	82	66	-	-	SYM
framr-1741	82	67	15	15	NUM
framr-1741	82	68	4	4	NUM
framr-1741	82	69	©	©	PROPN
framr-1741	82	70	2021	2021	NUM
framr-1741	82	71	conscientia	conscientia	PROPN
framr-1741	82	72	beam	beam	PROPN
framr-1741	82	73	.	.	PUNCT
framr-1741	83	1	all	all	DET
framr-1741	83	2	rights	right	NOUN
framr-1741	83	3	reserved	reserve	VERB
framr-1741	83	4	.	.	PUNCT
framr-1741	84	1	fama	fama	PROPN
framr-1741	84	2	..	..	PUNCT
framr-1741	84	3	1991	1991	NUM
framr-1741	84	4	)	)	PUNCT
framr-1741	84	5	.	.	PUNCT
framr-1741	85	1	as	as	ADP
framr-1741	85	2	such	such	ADJ
framr-1741	85	3	,	,	PUNCT
framr-1741	85	4	in	in	ADP
framr-1741	85	5	an	an	DET
framr-1741	85	6	efficient	efficient	ADJ
framr-1741	85	7	market	market	NOUN
framr-1741	85	8	,	,	PUNCT
framr-1741	85	9	it	it	PRON
framr-1741	85	10	is	be	AUX
framr-1741	85	11	assumed	assume	VERB
framr-1741	85	12	that	that	SCONJ
framr-1741	85	13	changes	change	NOUN
framr-1741	85	14	in	in	ADP
framr-1741	85	15	share	share	NOUN
framr-1741	85	16	prices	price	NOUN
framr-1741	85	17	are	be	AUX
framr-1741	85	18	unpredictable	unpredictable	ADJ
framr-1741	85	19	since	since	SCONJ
framr-1741	85	20	there	there	PRON
framr-1741	85	21	is	be	VERB
framr-1741	85	22	random	random	ADJ
framr-1741	85	23	arrival	arrival	NOUN
framr-1741	85	24	of	of	ADP
framr-1741	85	25	information	information	NOUN
framr-1741	85	26	.	.	PUNCT
framr-1741	86	1	using	use	VERB
framr-1741	86	2	equation	equation	NOUN
framr-1741	86	3	1	1	NUM
framr-1741	86	4	the	the	DET
framr-1741	86	5	random	random	ADJ
framr-1741	86	6	walk	walk	NOUN
framr-1741	86	7	model	model	NOUN
framr-1741	86	8	is	be	AUX
framr-1741	86	9	specified	specify	VERB
framr-1741	86	10	as	as	SCONJ
framr-1741	86	11	follows	follow	VERB
framr-1741	86	12	:	:	PUNCT
framr-1741	86	13	(	(	PUNCT
framr-1741	86	14	1	1	X
framr-1741	86	15	)	)	PUNCT
framr-1741	86	16	where	where	SCONJ
framr-1741	86	17	,	,	PUNCT
framr-1741	86	18	=	=	PUNCT
framr-1741	86	19	share	share	NOUN
framr-1741	86	20	price	price	NOUN
framr-1741	86	21	at	at	ADP
framr-1741	86	22	time	time	NOUN
framr-1741	86	23	.	.	PUNCT
framr-1741	87	1	=	=	PRON
framr-1741	87	2	share	share	NOUN
framr-1741	87	3	price	price	NOUN
framr-1741	87	4	at	at	ADP
framr-1741	87	5	time	time	NOUN
framr-1741	87	6	.	.	PUNCT
framr-1741	88	1	random	random	ADJ
framr-1741	88	2	error	error	NOUN
framr-1741	88	3	with	with	ADP
framr-1741	88	4	zero	zero	NUM
framr-1741	88	5	mean	mean	NOUN
framr-1741	88	6	and	and	CCONJ
framr-1741	88	7	finite	finite	ADJ
framr-1741	88	8	variance	variance	NOUN
framr-1741	88	9	.	.	PUNCT
framr-1741	89	1	equation	equation	NOUN
framr-1741	89	2	1	1	NUM
framr-1741	89	3	shows	show	VERB
framr-1741	89	4	that	that	SCONJ
framr-1741	89	5	share	share	NOUN
framr-1741	89	6	price	price	NOUN
framr-1741	89	7	at	at	ADP
framr-1741	89	8	time	time	NOUN
framr-1741	89	9	is	be	AUX
framr-1741	89	10	equivalent	equivalent	ADJ
framr-1741	89	11	to	to	ADP
framr-1741	89	12	its	its	PRON
framr-1741	89	13	price	price	NOUN
framr-1741	89	14	at	at	ADP
framr-1741	89	15	time	time	NOUN
framr-1741	89	16	in	in	ADP
framr-1741	89	17	addition	addition	NOUN
framr-1741	89	18	to	to	ADP
framr-1741	89	19	a	a	DET
framr-1741	89	20	specific	specific	ADJ
framr-1741	89	21	value	value	NOUN
framr-1741	89	22	that	that	PRON
framr-1741	89	23	depends	depend	VERB
framr-1741	89	24	on	on	ADP
framr-1741	89	25	arrival	arrival	NOUN
framr-1741	89	26	of	of	ADP
framr-1741	89	27	unpredictable	unpredictable	ADJ
framr-1741	89	28	new	new	ADJ
framr-1741	89	29	information	information	NOUN
framr-1741	89	30	between	between	ADP
framr-1741	89	31	and	and	CCONJ
framr-1741	89	32	.	.	PUNCT
framr-1741	90	1	in	in	ADP
framr-1741	90	2	other	other	ADJ
framr-1741	90	3	words	word	NOUN
framr-1741	90	4	,	,	PUNCT
framr-1741	90	5	does	do	AUX
framr-1741	90	6	not	not	PART
framr-1741	90	7	depend	depend	VERB
framr-1741	90	8	on	on	ADP
framr-1741	90	9	previous	previous	ADJ
framr-1741	90	10	price	price	NOUN
framr-1741	90	11	changes	change	NOUN
framr-1741	90	12	.	.	PUNCT
framr-1741	91	1	there	there	PRON
framr-1741	91	2	are	be	VERB
framr-1741	91	3	three	three	NUM
framr-1741	91	4	levels	level	NOUN
framr-1741	91	5	of	of	ADP
framr-1741	91	6	efficient	efficient	ADJ
framr-1741	91	7	markets	market	NOUN
framr-1741	91	8	among	among	ADP
framr-1741	91	9	which	which	PRON
framr-1741	91	10	is	be	AUX
framr-1741	91	11	the	the	DET
framr-1741	91	12	weak	weak	ADJ
framr-1741	91	13	-	-	PUNCT
framr-1741	91	14	form	form	NOUN
framr-1741	91	15	efficiency	efficiency	NOUN
framr-1741	91	16	whereby	whereby	SCONJ
framr-1741	91	17	the	the	DET
framr-1741	91	18	information	information	NOUN
framr-1741	91	19	content	content	NOUN
framr-1741	91	20	of	of	ADP
framr-1741	91	21	interest	interest	NOUN
framr-1741	91	22	is	be	AUX
framr-1741	91	23	historical	historical	ADJ
framr-1741	91	24	prices	price	NOUN
framr-1741	91	25	(	(	PUNCT
framr-1741	91	26	fama	fama	NOUN
framr-1741	91	27	,	,	PUNCT
framr-1741	91	28	1970	1970	NUM
framr-1741	91	29	)	)	PUNCT
framr-1741	91	30	.	.	PUNCT
framr-1741	92	1	the	the	DET
framr-1741	92	2	weak	weak	ADJ
framr-1741	92	3	form	form	NOUN
framr-1741	92	4	efficiency	efficiency	NOUN
framr-1741	92	5	suggests	suggest	VERB
framr-1741	92	6	that	that	SCONJ
framr-1741	92	7	current	current	ADJ
framr-1741	92	8	stock	stock	NOUN
framr-1741	92	9	prices	price	NOUN
framr-1741	92	10	reflect	reflect	VERB
framr-1741	92	11	all	all	DET
framr-1741	92	12	information	information	NOUN
framr-1741	92	13	of	of	ADP
framr-1741	92	14	previous	previous	ADJ
framr-1741	92	15	prices	price	NOUN
framr-1741	92	16	and	and	CCONJ
framr-1741	92	17	that	that	SCONJ
framr-1741	92	18	investors	investor	NOUN
framr-1741	92	19	can	can	AUX
framr-1741	92	20	not	not	PART
framr-1741	92	21	apply	apply	VERB
framr-1741	92	22	technical	technical	ADJ
framr-1741	92	23	analysis	analysis	NOUN
framr-1741	92	24	of	of	ADP
framr-1741	92	25	any	any	DET
framr-1741	92	26	form	form	NOUN
framr-1741	92	27	in	in	ADP
framr-1741	92	28	their	their	PRON
framr-1741	92	29	investment	investment	NOUN
framr-1741	92	30	decisions	decision	NOUN
framr-1741	92	31	(	(	PUNCT
framr-1741	92	32	to	to	PART
framr-1741	92	33	determined	determine	VERB
framr-1741	92	34	undervalued	undervalued	ADJ
framr-1741	92	35	or	or	CCONJ
framr-1741	92	36	overvalued	overvalue	VERB
framr-1741	92	37	stocks	stock	NOUN
framr-1741	92	38	)	)	PUNCT
framr-1741	92	39	but	but	CCONJ
framr-1741	92	40	can	can	AUX
framr-1741	92	41	research	research	VERB
framr-1741	92	42	firm	firm	NOUN
framr-1741	92	43	’s	’s	PART
framr-1741	92	44	financial	financial	ADJ
framr-1741	92	45	statements	statement	NOUN
framr-1741	92	46	to	to	PART
framr-1741	92	47	boost	boost	VERB
framr-1741	92	48	their	their	PRON
framr-1741	92	49	chances	chance	NOUN
framr-1741	92	50	of	of	ADP
framr-1741	92	51	gaining	gain	VERB
framr-1741	92	52	returns	return	NOUN
framr-1741	92	53	higher	high	ADJ
framr-1741	92	54	than	than	ADP
framr-1741	92	55	that	that	PRON
framr-1741	92	56	of	of	ADP
framr-1741	92	57	the	the	DET
framr-1741	92	58	market	market	NOUN
framr-1741	92	59	.	.	PUNCT
framr-1741	93	1	on	on	ADP
framr-1741	93	2	the	the	DET
framr-1741	93	3	other	other	ADJ
framr-1741	93	4	hand	hand	NOUN
framr-1741	93	5	,	,	PUNCT
framr-1741	93	6	the	the	DET
framr-1741	93	7	semi	semi	ADJ
framr-1741	93	8	-	-	ADJ
framr-1741	93	9	strong	strong	ADJ
framr-1741	93	10	form	form	NOUN
framr-1741	93	11	is	be	AUX
framr-1741	93	12	hinged	hinge	VERB
framr-1741	93	13	on	on	ADP
framr-1741	93	14	the	the	DET
framr-1741	93	15	notion	notion	NOUN
framr-1741	93	16	that	that	SCONJ
framr-1741	93	17	investors	investor	NOUN
framr-1741	93	18	can	can	AUX
framr-1741	93	19	not	not	PART
framr-1741	93	20	use	use	VERB
framr-1741	93	21	either	either	CCONJ
framr-1741	93	22	fundamental	fundamental	ADJ
framr-1741	93	23	or	or	CCONJ
framr-1741	93	24	technical	technical	ADJ
framr-1741	93	25	analysis	analysis	NOUN
framr-1741	93	26	to	to	PART
framr-1741	93	27	obtain	obtain	VERB
framr-1741	93	28	higher	high	ADJ
framr-1741	93	29	returns	return	NOUN
framr-1741	93	30	in	in	ADP
framr-1741	93	31	the	the	DET
framr-1741	93	32	market	market	NOUN
framr-1741	93	33	since	since	SCONJ
framr-1741	93	34	all	all	DET
framr-1741	93	35	publicly	publicly	ADV
framr-1741	93	36	available	available	ADJ
framr-1741	93	37	information	information	NOUN
framr-1741	93	38	is	be	AUX
framr-1741	93	39	used	use	VERB
framr-1741	93	40	in	in	ADP
framr-1741	93	41	the	the	DET
framr-1741	93	42	computation	computation	NOUN
framr-1741	93	43	of	of	ADP
framr-1741	93	44	current	current	ADJ
framr-1741	93	45	stock	stock	NOUN
framr-1741	93	46	prices	price	NOUN
framr-1741	93	47	and	and	CCONJ
framr-1741	93	48	that	that	SCONJ
framr-1741	93	49	only	only	ADJ
framr-1741	93	50	information	information	NOUN
framr-1741	93	51	that	that	PRON
framr-1741	93	52	is	be	AUX
framr-1741	93	53	not	not	PART
framr-1741	93	54	available	available	ADJ
framr-1741	93	55	to	to	ADP
framr-1741	93	56	the	the	DET
framr-1741	93	57	public	public	ADJ
framr-1741	93	58	(	(	PUNCT
framr-1741	93	59	private	private	ADJ
framr-1741	93	60	information	information	NOUN
framr-1741	93	61	)	)	PUNCT
framr-1741	93	62	can	can	AUX
framr-1741	93	63	aid	aid	VERB
framr-1741	93	64	investors	investor	NOUN
framr-1741	93	65	boost	boost	VERB
framr-1741	93	66	their	their	PRON
framr-1741	93	67	returns	return	NOUN
framr-1741	93	68	above	above	ADP
framr-1741	93	69	that	that	PRON
framr-1741	93	70	of	of	ADP
framr-1741	93	71	the	the	DET
framr-1741	93	72	market	market	NOUN
framr-1741	93	73	.	.	PUNCT
framr-1741	94	1	the	the	DET
framr-1741	94	2	advocates	advocate	NOUN
framr-1741	94	3	of	of	ADP
framr-1741	94	4	the	the	DET
framr-1741	94	5	strong	strong	ADJ
framr-1741	94	6	form	form	NOUN
framr-1741	94	7	version	version	NOUN
framr-1741	94	8	states	state	NOUN
framr-1741	94	9	that	that	SCONJ
framr-1741	94	10	all	all	DET
framr-1741	94	11	available	available	ADJ
framr-1741	94	12	information	information	NOUN
framr-1741	94	13	(	(	PUNCT
framr-1741	94	14	both	both	CCONJ
framr-1741	94	15	public	public	ADJ
framr-1741	94	16	and	and	CCONJ
framr-1741	94	17	nonpublic	nonpublic	ADJ
framr-1741	94	18	)	)	PUNCT
framr-1741	94	19	is	be	AUX
framr-1741	94	20	completed	complete	VERB
framr-1741	94	21	reflected	reflect	VERB
framr-1741	94	22	in	in	ADP
framr-1741	94	23	the	the	DET
framr-1741	94	24	current	current	ADJ
framr-1741	94	25	stock	stock	NOUN
framr-1741	94	26	prices	price	NOUN
framr-1741	94	27	,	,	PUNCT
framr-1741	94	28	that	that	ADV
framr-1741	94	29	is	is	ADV
framr-1741	94	30	,	,	PUNCT
framr-1741	94	31	there	there	PRON
framr-1741	94	32	is	be	VERB
framr-1741	94	33	no	no	DET
framr-1741	94	34	type	type	NOUN
framr-1741	94	35	of	of	ADP
framr-1741	94	36	information	information	NOUN
framr-1741	94	37	that	that	PRON
framr-1741	94	38	can	can	AUX
framr-1741	94	39	make	make	VERB
framr-1741	94	40	an	an	DET
framr-1741	94	41	investor	investor	NOUN
framr-1741	94	42	make	make	VERB
framr-1741	94	43	returns	return	NOUN
framr-1741	94	44	higher	high	ADJ
framr-1741	94	45	than	than	ADP
framr-1741	94	46	the	the	DET
framr-1741	94	47	market	market	NOUN
framr-1741	94	48	,	,	PUNCT
framr-1741	94	49	not	not	PART
framr-1741	94	50	even	even	ADV
framr-1741	94	51	insider	insider	NOUN
framr-1741	94	52	knowledge	knowledge	NOUN
framr-1741	94	53	give	give	VERB
framr-1741	94	54	investors	investor	NOUN
framr-1741	94	55	a	a	DET
framr-1741	94	56	predictive	predictive	ADJ
framr-1741	94	57	edge	edge	NOUN
framr-1741	94	58	over	over	ADP
framr-1741	94	59	the	the	DET
framr-1741	94	60	entire	entire	ADJ
framr-1741	94	61	market	market	NOUN
framr-1741	94	62	.	.	PUNCT
framr-1741	95	1	the	the	DET
framr-1741	95	2	building	building	NOUN
framr-1741	95	3	block	block	NOUN
framr-1741	95	4	of	of	ADP
framr-1741	95	5	this	this	DET
framr-1741	95	6	study	study	NOUN
framr-1741	95	7	is	be	AUX
framr-1741	95	8	the	the	DET
framr-1741	95	9	weak	weak	ADJ
framr-1741	95	10	form	form	NOUN
framr-1741	95	11	of	of	ADP
framr-1741	95	12	market	market	NOUN
framr-1741	95	13	efficiency	efficiency	NOUN
framr-1741	95	14	.	.	PUNCT
framr-1741	96	1	2.3	2.3	NUM
framr-1741	96	2	.	.	PUNCT
framr-1741	97	1	empirical	empirical	ADJ
framr-1741	97	2	review	review	NOUN
framr-1741	97	3	on	on	ADP
framr-1741	97	4	the	the	DET
framr-1741	97	5	empirical	empirical	ADJ
framr-1741	97	6	sphere	sphere	NOUN
framr-1741	97	7	,	,	PUNCT
framr-1741	97	8	studies	study	NOUN
framr-1741	97	9	on	on	ADP
framr-1741	97	10	stock	stock	NOUN
framr-1741	97	11	returns	return	NOUN
framr-1741	97	12	volatility	volatility	NOUN
framr-1741	97	13	dates	date	VERB
framr-1741	97	14	back	back	ADV
framr-1741	97	15	to	to	ADP
framr-1741	97	16	the	the	DET
framr-1741	97	17	1980s	1980	NOUN
framr-1741	97	18	but	but	CCONJ
framr-1741	97	19	the	the	DET
framr-1741	97	20	empirical	empirical	ADJ
framr-1741	97	21	studies	study	NOUN
framr-1741	97	22	have	have	AUX
framr-1741	97	23	improved	improve	VERB
framr-1741	97	24	in	in	ADP
framr-1741	97	25	recent	recent	ADJ
framr-1741	97	26	times	time	NOUN
framr-1741	97	27	.	.	PUNCT
framr-1741	98	1	the	the	DET
framr-1741	98	2	first	first	ADJ
framr-1741	98	3	reason	reason	NOUN
framr-1741	98	4	adduced	adduce	VERB
framr-1741	98	5	to	to	ADP
framr-1741	98	6	this	this	DET
framr-1741	98	7	development	development	NOUN
framr-1741	98	8	is	be	AUX
framr-1741	98	9	the	the	DET
framr-1741	98	10	fact	fact	NOUN
framr-1741	98	11	that	that	SCONJ
framr-1741	98	12	different	different	ADJ
framr-1741	98	13	data	datum	NOUN
framr-1741	98	14	on	on	ADP
framr-1741	98	15	stock	stock	NOUN
framr-1741	98	16	market	market	NOUN
framr-1741	98	17	indices	index	NOUN
framr-1741	98	18	has	have	AUX
framr-1741	98	19	been	be	AUX
framr-1741	98	20	computed	compute	VERB
framr-1741	98	21	globally	globally	ADV
framr-1741	98	22	.	.	PUNCT
framr-1741	99	1	availability	availability	NOUN
framr-1741	99	2	of	of	ADP
framr-1741	99	3	these	these	DET
framr-1741	99	4	data	datum	NOUN
framr-1741	99	5	has	have	AUX
framr-1741	99	6	empowered	empower	VERB
framr-1741	99	7	researchers	researcher	NOUN
framr-1741	99	8	to	to	PART
framr-1741	99	9	conduct	conduct	VERB
framr-1741	99	10	studies	study	NOUN
framr-1741	99	11	on	on	ADP
framr-1741	99	12	stock	stock	NOUN
framr-1741	99	13	returns	return	NOUN
framr-1741	99	14	volatility	volatility	NOUN
framr-1741	99	15	in	in	ADP
framr-1741	99	16	less	less	ADV
framr-1741	99	17	developed	developed	ADJ
framr-1741	99	18	,	,	PUNCT
framr-1741	99	19	emerging	emerge	VERB
framr-1741	99	20	and	and	CCONJ
framr-1741	99	21	developed	developed	ADJ
framr-1741	99	22	countries	country	NOUN
framr-1741	99	23	across	across	ADP
framr-1741	99	24	the	the	DET
framr-1741	99	25	world	world	NOUN
framr-1741	99	26	.	.	PUNCT
framr-1741	100	1	the	the	DET
framr-1741	100	2	second	second	ADJ
framr-1741	100	3	reason	reason	NOUN
framr-1741	100	4	for	for	ADP
framr-1741	100	5	the	the	DET
framr-1741	100	6	current	current	ADJ
framr-1741	100	7	development	development	NOUN
framr-1741	100	8	in	in	ADP
framr-1741	100	9	the	the	DET
framr-1741	100	10	literature	literature	NOUN
framr-1741	100	11	is	be	AUX
framr-1741	100	12	associated	associate	VERB
framr-1741	100	13	with	with	ADP
framr-1741	100	14	advancement	advancement	NOUN
framr-1741	100	15	in	in	ADP
framr-1741	100	16	econometric	econometric	ADJ
framr-1741	100	17	estimation	estimation	NOUN
framr-1741	100	18	methods	method	NOUN
framr-1741	100	19	as	as	SCONJ
framr-1741	100	20	captured	capture	VERB
framr-1741	100	21	by	by	ADP
framr-1741	100	22	various	various	ADJ
framr-1741	100	23	garch	garch	NOUN
framr-1741	100	24	models	model	NOUN
framr-1741	100	25	applied	apply	VERB
framr-1741	100	26	in	in	ADP
framr-1741	100	27	the	the	DET
framr-1741	100	28	literature	literature	NOUN
framr-1741	100	29	.	.	PUNCT
framr-1741	101	1	the	the	DET
framr-1741	101	2	econometric	econometric	ADJ
framr-1741	101	3	estimation	estimation	NOUN
framr-1741	101	4	models	model	NOUN
framr-1741	101	5	are	be	AUX
framr-1741	101	6	built	build	VERB
framr-1741	101	7	on	on	ADP
framr-1741	101	8	the	the	DET
framr-1741	101	9	weak	weak	ADJ
framr-1741	101	10	-	-	PUNCT
framr-1741	101	11	form	form	NOUN
framr-1741	101	12	emh	emh	NOUN
framr-1741	101	13	,	,	PUNCT
framr-1741	101	14	showing	show	VERB
framr-1741	101	15	evidence	evidence	NOUN
framr-1741	101	16	of	of	ADP
framr-1741	101	17	volatility	volatility	NOUN
framr-1741	101	18	persistence	persistence	NOUN
framr-1741	101	19	and	and	CCONJ
framr-1741	101	20	asymmetric	asymmetric	ADJ
framr-1741	101	21	volatility	volatility	NOUN
framr-1741	101	22	/	/	SYM
framr-1741	101	23	news	news	NOUN
framr-1741	101	24	or	or	CCONJ
framr-1741	101	25	leverage	leverage	NOUN
framr-1741	101	26	effect	effect	NOUN
framr-1741	101	27	.	.	PUNCT
framr-1741	102	1	notable	notable	ADJ
framr-1741	102	2	among	among	ADP
framr-1741	102	3	earlier	early	ADJ
framr-1741	102	4	studies	study	NOUN
framr-1741	102	5	are	be	AUX
framr-1741	102	6	bollerslev	bollerslev	ADJ
framr-1741	102	7	,	,	PUNCT
framr-1741	102	8	chou	chou	NOUN
framr-1741	102	9	,	,	PUNCT
framr-1741	102	10	and	and	CCONJ
framr-1741	102	11	kroner	kroner	NOUN
framr-1741	102	12	(	(	PUNCT
framr-1741	102	13	1992	1992	NUM
framr-1741	102	14	)	)	PUNCT
framr-1741	102	15	;	;	PUNCT
framr-1741	102	16	bollerslev	bollerslev	ADJ
framr-1741	102	17	(	(	PUNCT
framr-1741	102	18	1986	1986	NUM
framr-1741	102	19	)	)	PUNCT
framr-1741	102	20	;	;	PUNCT
framr-1741	102	21	ding	ding	NOUN
framr-1741	102	22	,	,	PUNCT
framr-1741	102	23	granger	granger	PROPN
framr-1741	102	24	,	,	PUNCT
framr-1741	102	25	and	and	CCONJ
framr-1741	102	26	engle	engle	PROPN
framr-1741	102	27	(	(	PUNCT
framr-1741	102	28	1993	1993	NUM
framr-1741	102	29	)	)	PUNCT
framr-1741	102	30	;	;	PUNCT
framr-1741	103	1	engle	engle	NOUN
framr-1741	103	2	(	(	PUNCT
framr-1741	103	3	1982	1982	NUM
framr-1741	103	4	)	)	PUNCT
framr-1741	103	5	who	who	PRON
framr-1741	103	6	confirmed	confirm	VERB
framr-1741	103	7	presence	presence	NOUN
framr-1741	103	8	of	of	ADP
framr-1741	103	9	volatility	volatility	NOUN
framr-1741	103	10	in	in	ADP
framr-1741	103	11	financial	financial	ADJ
framr-1741	103	12	times	times	PROPN
framr-1741	103	13	series	series	NOUN
framr-1741	103	14	.	.	PUNCT
framr-1741	104	1	on	on	ADP
framr-1741	104	2	the	the	DET
framr-1741	104	3	other	other	ADJ
framr-1741	104	4	hand	hand	NOUN
framr-1741	104	5	,	,	PUNCT
framr-1741	104	6	recent	recent	ADJ
framr-1741	104	7	empirical	empirical	ADJ
framr-1741	104	8	studies	study	NOUN
framr-1741	104	9	on	on	ADP
framr-1741	104	10	the	the	DET
framr-1741	104	11	subject	subject	NOUN
framr-1741	104	12	emerged	emerge	VERB
framr-1741	104	13	with	with	ADP
framr-1741	104	14	different	different	ADJ
framr-1741	104	15	results	result	NOUN
framr-1741	104	16	due	due	ADP
framr-1741	104	17	to	to	ADP
framr-1741	104	18	time	time	NOUN
framr-1741	104	19	period	period	NOUN
framr-1741	104	20	,	,	PUNCT
framr-1741	104	21	methodology	methodology	NOUN
framr-1741	104	22	and	and	CCONJ
framr-1741	104	23	geography	geography	NOUN
framr-1741	104	24	covered	cover	VERB
framr-1741	104	25	by	by	ADP
framr-1741	104	26	the	the	DET
framr-1741	104	27	various	various	ADJ
framr-1741	104	28	studies	study	NOUN
framr-1741	104	29	.	.	PUNCT
framr-1741	105	1	the	the	DET
framr-1741	105	2	gap	gap	NOUN
framr-1741	105	3	identified	identify	VERB
framr-1741	105	4	in	in	ADP
framr-1741	105	5	the	the	DET
framr-1741	105	6	empirical	empirical	ADJ
framr-1741	105	7	literature	literature	NOUN
framr-1741	105	8	is	be	AUX
framr-1741	105	9	that	that	SCONJ
framr-1741	105	10	none	none	NOUN
framr-1741	105	11	of	of	ADP
framr-1741	105	12	the	the	DET
framr-1741	105	13	prior	prior	ADJ
framr-1741	105	14	empirical	empirical	ADJ
framr-1741	105	15	works	work	NOUN
framr-1741	105	16	had	have	AUX
framr-1741	105	17	investigated	investigate	VERB
framr-1741	105	18	stock	stock	NOUN
framr-1741	105	19	returns	return	NOUN
framr-1741	105	20	volatility	volatility	NOUN
framr-1741	105	21	and	and	CCONJ
framr-1741	105	22	asymmetric	asymmetric	ADJ
framr-1741	105	23	news	news	NOUN
framr-1741	105	24	effect	effect	NOUN
framr-1741	105	25	using	use	VERB
framr-1741	105	26	return	return	NOUN
framr-1741	105	27	series	series	NOUN
framr-1741	105	28	from	from	ADP
framr-1741	105	29	s&p	s&p	PROPN
framr-1741	105	30	global	global	ADJ
framr-1741	105	31	1200	1200	NUM
framr-1741	105	32	index	index	NOUN
framr-1741	105	33	(	(	PUNCT
framr-1741	105	34	see	see	VERB
framr-1741	105	35	components	component	NOUN
framr-1741	105	36	of	of	ADP
framr-1741	105	37	s&p	s&p	PROPN
framr-1741	105	38	global	global	ADJ
framr-1741	105	39	index	index	NOUN
framr-1741	105	40	in	in	ADP
framr-1741	105	41	table	table	NOUN
framr-1741	105	42	1	1	NUM
framr-1741	105	43	in	in	ADP
framr-1741	105	44	section	section	NOUN
framr-1741	105	45	3	3	NUM
framr-1741	105	46	)	)	PUNCT
framr-1741	105	47	.	.	PUNCT
framr-1741	106	1	financial	financial	ADJ
framr-1741	106	2	risk	risk	NOUN
framr-1741	106	3	and	and	CCONJ
framr-1741	106	4	management	management	NOUN
framr-1741	106	5	reviews	review	NOUN
framr-1741	106	6	,	,	PUNCT
framr-1741	106	7	2021	2021	NUM
framr-1741	106	8	,	,	PUNCT
framr-1741	106	9	7(1	7(1	NUM
framr-1741	106	10	):	):	PUNCT
framr-1741	106	11	1	1	NUM
framr-1741	106	12	-	-	SYM
framr-1741	106	13	15	15	NUM
framr-1741	106	14	5	5	NUM
framr-1741	106	15	©	©	PROPN
framr-1741	106	16	2021	2021	NUM
framr-1741	106	17	conscientia	conscientia	PROPN
framr-1741	106	18	beam	beam	PROPN
framr-1741	106	19	.	.	PUNCT
framr-1741	107	1	all	all	DET
framr-1741	107	2	rights	right	NOUN
framr-1741	107	3	reserved	reserve	VERB
framr-1741	107	4	.	.	PUNCT
framr-1741	108	1	most	most	ADV
framr-1741	108	2	recently	recently	ADV
framr-1741	108	3	,	,	PUNCT
framr-1741	108	4	bello	bello	PROPN
framr-1741	108	5	(	(	PUNCT
framr-1741	108	6	2020	2020	NUM
framr-1741	108	7	)	)	PUNCT
framr-1741	108	8	used	use	VERB
framr-1741	108	9	garch(1,1	garch(1,1	NOUN
framr-1741	108	10	)	)	PUNCT
framr-1741	108	11	and	and	CCONJ
framr-1741	108	12	daily	daily	ADJ
framr-1741	108	13	data	datum	NOUN
framr-1741	108	14	from	from	ADP
framr-1741	108	15	2008	2008	NUM
framr-1741	108	16	-	-	SYM
framr-1741	108	17	2018	2018	NUM
framr-1741	108	18	to	to	PART
framr-1741	108	19	analyze	analyze	VERB
framr-1741	108	20	stock	stock	NOUN
framr-1741	108	21	returns	return	NOUN
framr-1741	108	22	volatility	volatility	NOUN
framr-1741	108	23	and	and	CCONJ
framr-1741	108	24	found	find	VERB
framr-1741	108	25	high	high	ADJ
framr-1741	108	26	volatility	volatility	NOUN
framr-1741	108	27	persistence	persistence	NOUN
framr-1741	108	28	in	in	ADP
framr-1741	108	29	the	the	DET
framr-1741	108	30	nigerian	nigerian	ADJ
framr-1741	108	31	stock	stock	NOUN
framr-1741	108	32	market	market	NOUN
framr-1741	108	33	.	.	PUNCT
framr-1741	109	1	in	in	ADP
framr-1741	109	2	another	another	DET
framr-1741	109	3	study	study	NOUN
framr-1741	109	4	,	,	PUNCT
framr-1741	109	5	musa	musa	PROPN
framr-1741	109	6	,	,	PUNCT
framr-1741	109	7	adamu	adamu	PROPN
framr-1741	109	8	,	,	PUNCT
framr-1741	109	9	and	and	CCONJ
framr-1741	109	10	dauran	dauran	ADJ
framr-1741	109	11	(	(	PUNCT
framr-1741	109	12	2020	2020	NUM
framr-1741	109	13	)	)	PUNCT
framr-1741	109	14	applied	apply	VERB
framr-1741	109	15	pgarch	pgarch	NOUN
framr-1741	109	16	and	and	CCONJ
framr-1741	109	17	revealed	reveal	VERB
framr-1741	109	18	that	that	SCONJ
framr-1741	109	19	volatility	volatility	NOUN
framr-1741	109	20	persistence	persistence	NOUN
framr-1741	109	21	in	in	ADP
framr-1741	109	22	the	the	DET
framr-1741	109	23	nigerian	nigerian	ADJ
framr-1741	109	24	stock	stock	NOUN
framr-1741	109	25	market	market	NOUN
framr-1741	109	26	reduced	reduce	VERB
framr-1741	109	27	significantly	significantly	ADV
framr-1741	109	28	after	after	ADP
framr-1741	109	29	unexpected	unexpected	ADJ
framr-1741	109	30	shocks	shock	NOUN
framr-1741	109	31	between	between	ADP
framr-1741	109	32	1987	1987	NUM
framr-1741	109	33	and	and	CCONJ
framr-1741	109	34	2019	2019	NUM
framr-1741	109	35	.	.	PUNCT
framr-1741	110	1	in	in	ADP
framr-1741	110	2	southern	southern	ADJ
framr-1741	110	3	asia	asia	PROPN
framr-1741	110	4	,	,	PUNCT
framr-1741	110	5	iqbal	iqbal	PROPN
framr-1741	110	6	,	,	PUNCT
framr-1741	110	7	saeed	saeed	PROPN
framr-1741	110	8	,	,	PUNCT
framr-1741	110	9	and	and	CCONJ
framr-1741	110	10	shah	shah	NOUN
framr-1741	110	11	(	(	PUNCT
framr-1741	110	12	2020	2020	NUM
framr-1741	110	13	)	)	PUNCT
framr-1741	110	14	used	use	VERB
framr-1741	110	15	garch(1,1	garch(1,1	NOUN
framr-1741	110	16	)	)	PUNCT
framr-1741	110	17	model	model	NOUN
framr-1741	110	18	to	to	PART
framr-1741	110	19	analyze	analyze	VERB
framr-1741	110	20	daily	daily	ADJ
framr-1741	110	21	returns	return	NOUN
framr-1741	110	22	series	series	NOUN
framr-1741	110	23	from	from	ADP
framr-1741	110	24	2007	2007	NUM
framr-1741	110	25	to	to	ADP
framr-1741	110	26	2019	2019	NUM
framr-1741	110	27	and	and	CCONJ
framr-1741	110	28	found	find	VERB
framr-1741	110	29	explosive	explosive	ADJ
framr-1741	110	30	volatility	volatility	NOUN
framr-1741	110	31	of	of	ADP
framr-1741	110	32	stock	stock	NOUN
framr-1741	110	33	returns	return	NOUN
framr-1741	110	34	.	.	PUNCT
framr-1741	111	1	also	also	ADV
framr-1741	111	2	,	,	PUNCT
framr-1741	111	3	using	use	VERB
framr-1741	111	4	daily	daily	ADJ
framr-1741	111	5	data	datum	NOUN
framr-1741	111	6	from	from	ADP
framr-1741	111	7	1999	1999	NUM
framr-1741	111	8	to	to	ADP
framr-1741	111	9	2016	2016	NUM
framr-1741	111	10	,	,	PUNCT
framr-1741	111	11	edem	edem	PROPN
framr-1741	111	12	and	and	CCONJ
framr-1741	111	13	ogbonna	ogbonna	PROPN
framr-1741	111	14	(	(	PUNCT
framr-1741	111	15	2020	2020	NUM
framr-1741	111	16	)	)	PUNCT
framr-1741	111	17	showed	show	VERB
framr-1741	111	18	evidence	evidence	NOUN
framr-1741	111	19	of	of	ADP
framr-1741	111	20	returns	return	NOUN
framr-1741	111	21	volatility	volatility	NOUN
framr-1741	111	22	persistence	persistence	NOUN
framr-1741	111	23	and	and	CCONJ
framr-1741	111	24	asymmetric	asymmetric	ADJ
framr-1741	111	25	news	news	NOUN
framr-1741	111	26	effect	effect	NOUN
framr-1741	111	27	in	in	ADP
framr-1741	111	28	the	the	DET
framr-1741	111	29	nigerian	nigerian	ADJ
framr-1741	111	30	stock	stock	NOUN
framr-1741	111	31	market	market	NOUN
framr-1741	111	32	.	.	PUNCT
framr-1741	112	1	in	in	ADP
framr-1741	112	2	malaysia	malaysia	PROPN
framr-1741	112	3	,	,	PUNCT
framr-1741	112	4	lai	lai	PROPN
framr-1741	112	5	et	et	PROPN
framr-1741	112	6	al	al	PROPN
framr-1741	112	7	.	.	PROPN
framr-1741	112	8	(	(	PUNCT
framr-1741	112	9	2019	2019	NUM
framr-1741	112	10	)	)	PUNCT
framr-1741	112	11	used	use	VERB
framr-1741	112	12	daily	daily	ADJ
framr-1741	112	13	time	time	NOUN
framr-1741	112	14	series	series	PROPN
framr-1741	112	15	data	datum	NOUN
framr-1741	112	16	spanning	span	VERB
framr-1741	112	17	from	from	ADP
framr-1741	112	18	1996	1996	NUM
framr-1741	112	19	to	to	ADP
framr-1741	112	20	2016	2016	NUM
framr-1741	112	21	with	with	ADP
framr-1741	112	22	garch	garch	NOUN
framr-1741	112	23	(	(	PUNCT
framr-1741	112	24	1,1	1,1	NUM
framr-1741	112	25	)	)	PUNCT
framr-1741	112	26	model	model	NOUN
framr-1741	112	27	to	to	PART
framr-1741	112	28	show	show	VERB
framr-1741	112	29	that	that	SCONJ
framr-1741	112	30	stock	stock	NOUN
framr-1741	112	31	returns	return	NOUN
framr-1741	112	32	of	of	ADP
framr-1741	112	33	oil	oil	NOUN
framr-1741	112	34	&	&	CCONJ
framr-1741	112	35	gas	gas	NOUN
framr-1741	112	36	sector	sector	NOUN
framr-1741	112	37	were	be	AUX
framr-1741	112	38	most	most	ADV
framr-1741	112	39	volatile	volatile	ADJ
framr-1741	112	40	.	.	PUNCT
framr-1741	113	1	in	in	ADP
framr-1741	113	2	kenya	kenya	PROPN
framr-1741	113	3	,	,	PUNCT
framr-1741	113	4	ndei	ndei	PROPN
framr-1741	113	5	et	et	PROPN
framr-1741	113	6	al	al	PROPN
framr-1741	113	7	.	.	PROPN
framr-1741	114	1	(	(	PUNCT
framr-1741	114	2	2019	2019	NUM
framr-1741	114	3	)	)	PUNCT
framr-1741	114	4	analyzed	analyze	VERB
framr-1741	114	5	the	the	DET
framr-1741	114	6	nairobi	nairobi	PROPN
framr-1741	114	7	stock	stock	NOUN
framr-1741	114	8	market	market	NOUN
framr-1741	114	9	from	from	ADP
framr-1741	114	10	2010	2010	NUM
framr-1741	114	11	to	to	ADP
framr-1741	114	12	2017	2017	NUM
framr-1741	114	13	using	use	VERB
framr-1741	114	14	garch(1,1	garch(1,1	NOUN
framr-1741	114	15	)	)	PUNCT
framr-1741	114	16	and	and	CCONJ
framr-1741	114	17	tgarch(1,1	tgarch(1,1	NOUN
framr-1741	114	18	)	)	PUNCT
framr-1741	114	19	and	and	CCONJ
framr-1741	114	20	revealed	reveal	VERB
framr-1741	114	21	persistent	persistent	ADJ
framr-1741	114	22	returns	return	NOUN
framr-1741	114	23	volatility	volatility	NOUN
framr-1741	114	24	,	,	PUNCT
framr-1741	114	25	leverage	leverage	NOUN
framr-1741	114	26	effects	effect	NOUN
framr-1741	114	27	,	,	PUNCT
framr-1741	114	28	and	and	CCONJ
framr-1741	114	29	absence	absence	NOUN
framr-1741	114	30	of	of	ADP
framr-1741	114	31	riskreturn	riskreturn	NOUN
framr-1741	114	32	trade	trade	NOUN
framr-1741	114	33	-	-	PUNCT
framr-1741	114	34	off	off	NOUN
framr-1741	114	35	.	.	PUNCT
framr-1741	115	1	using	use	VERB
framr-1741	115	2	daily	daily	ADJ
framr-1741	115	3	time	time	NOUN
framr-1741	115	4	series	series	NOUN
framr-1741	115	5	from	from	ADP
framr-1741	115	6	1997	1997	NUM
framr-1741	115	7	to	to	ADP
framr-1741	115	8	2018	2018	NUM
framr-1741	115	9	,	,	PUNCT
framr-1741	115	10	caporale	caporale	NOUN
framr-1741	115	11	et	et	PROPN
framr-1741	115	12	al	al	PROPN
framr-1741	115	13	.	.	PROPN
framr-1741	116	1	(	(	PUNCT
framr-1741	116	2	2019	2019	NUM
framr-1741	116	3	)	)	PUNCT
framr-1741	116	4	showed	show	VERB
framr-1741	116	5	that	that	SCONJ
framr-1741	116	6	volatility	volatility	NOUN
framr-1741	116	7	persistence	persistence	NOUN
framr-1741	116	8	in	in	ADP
framr-1741	116	9	the	the	DET
framr-1741	116	10	korean	korean	ADJ
framr-1741	116	11	stock	stock	NOUN
framr-1741	116	12	market	market	NOUN
framr-1741	116	13	was	be	AUX
framr-1741	116	14	driven	drive	VERB
framr-1741	116	15	by	by	ADP
framr-1741	116	16	buy	buy	VERB
framr-1741	116	17	and	and	CCONJ
framr-1741	116	18	sell	sell	VERB
framr-1741	116	19	trades	trade	NOUN
framr-1741	116	20	depending	depend	VERB
framr-1741	116	21	on	on	ADP
framr-1741	116	22	the	the	DET
framr-1741	116	23	type	type	NOUN
framr-1741	116	24	of	of	ADP
framr-1741	116	25	investor	investor	NOUN
framr-1741	116	26	trading	trading	NOUN
framr-1741	116	27	and	and	CCONJ
framr-1741	116	28	phase	phase	NOUN
framr-1741	116	29	of	of	ADP
framr-1741	116	30	business	business	NOUN
framr-1741	116	31	cycle	cycle	NOUN
framr-1741	116	32	.	.	PUNCT
framr-1741	117	1	in	in	ADP
framr-1741	117	2	a	a	DET
framr-1741	117	3	comparative	comparative	ADJ
framr-1741	117	4	analysis	analysis	NOUN
framr-1741	117	5	of	of	ADP
framr-1741	117	6	america	america	PROPN
framr-1741	117	7	,	,	PUNCT
framr-1741	117	8	europe	europe	PROPN
framr-1741	117	9	,	,	PUNCT
framr-1741	117	10	far	far	ADV
framr-1741	117	11	east	east	NOUN
framr-1741	117	12	,	,	PUNCT
framr-1741	117	13	brics	brics	PROPN
framr-1741	117	14	stock	stock	NOUN
framr-1741	117	15	markets	market	NOUN
framr-1741	117	16	from	from	ADP
framr-1741	117	17	1997	1997	NUM
framr-1741	117	18	to	to	ADP
framr-1741	117	19	2008	2008	NUM
framr-1741	117	20	,	,	PUNCT
framr-1741	117	21	tsuji	tsuji	PROPN
framr-1741	117	22	(	(	PUNCT
framr-1741	117	23	2018	2018	NUM
framr-1741	117	24	)	)	PUNCT
framr-1741	117	25	found	find	VERB
framr-1741	117	26	evidence	evidence	NOUN
framr-1741	117	27	of	of	ADP
framr-1741	117	28	persistent	persistent	ADJ
framr-1741	117	29	asymmetric	asymmetric	ADJ
framr-1741	117	30	volatility	volatility	NOUN
framr-1741	117	31	in	in	ADP
framr-1741	117	32	all	all	DET
framr-1741	117	33	the	the	DET
framr-1741	117	34	markets	market	NOUN
framr-1741	117	35	.	.	PUNCT
framr-1741	118	1	on	on	ADP
framr-1741	118	2	the	the	DET
framr-1741	118	3	other	other	ADJ
framr-1741	118	4	hand	hand	NOUN
framr-1741	118	5	,	,	PUNCT
framr-1741	118	6	using	use	VERB
framr-1741	118	7	the	the	DET
framr-1741	118	8	garch	garch	NOUN
framr-1741	118	9	(	(	PUNCT
framr-1741	118	10	1,1	1,1	NUM
framr-1741	118	11	)	)	PUNCT
framr-1741	118	12	model	model	NOUN
framr-1741	118	13	and	and	CCONJ
framr-1741	118	14	daily	daily	ADJ
framr-1741	118	15	return	return	NOUN
framr-1741	118	16	series	series	NOUN
framr-1741	118	17	from	from	ADP
framr-1741	118	18	1997	1997	NUM
framr-1741	118	19	to	to	ADP
framr-1741	118	20	2008	2008	NUM
framr-1741	118	21	,	,	PUNCT
framr-1741	118	22	de	de	X
framr-1741	118	23	gaetano	gaetano	X
framr-1741	118	24	(	(	PUNCT
framr-1741	118	25	2018	2018	NUM
framr-1741	118	26	)	)	PUNCT
framr-1741	118	27	found	find	VERB
framr-1741	118	28	that	that	SCONJ
framr-1741	118	29	returns	return	NOUN
framr-1741	118	30	in	in	ADP
framr-1741	118	31	the	the	DET
framr-1741	118	32	brics	bric	NOUN
framr-1741	118	33	market	market	NOUN
framr-1741	118	34	was	be	AUX
framr-1741	118	35	time	time	NOUN
framr-1741	118	36	varying	vary	VERB
framr-1741	118	37	.	.	PUNCT
framr-1741	119	1	in	in	ADP
framr-1741	119	2	a	a	DET
framr-1741	119	3	study	study	NOUN
framr-1741	119	4	of	of	ADP
framr-1741	119	5	emerging	emerge	VERB
framr-1741	119	6	markets	market	NOUN
framr-1741	119	7	,	,	PUNCT
framr-1741	119	8	abdennadher	abdennadher	NOUN
framr-1741	119	9	and	and	CCONJ
framr-1741	119	10	hallara	hallara	PROPN
framr-1741	119	11	(	(	PUNCT
framr-1741	119	12	2018	2018	NUM
framr-1741	119	13	)	)	PUNCT
framr-1741	119	14	applied	apply	VERB
framr-1741	119	15	garch(1,1	garch(1,1	NOUN
framr-1741	119	16	)	)	PUNCT
framr-1741	119	17	on	on	ADP
framr-1741	119	18	daily	daily	ADJ
framr-1741	119	19	time	time	NOUN
framr-1741	119	20	series	series	NOUN
framr-1741	119	21	spanning	span	VERB
framr-1741	119	22	from	from	ADP
framr-1741	119	23	2005	2005	NUM
framr-1741	119	24	to	to	ADP
framr-1741	119	25	2015	2015	NUM
framr-1741	119	26	and	and	CCONJ
framr-1741	119	27	found	find	VERB
framr-1741	119	28	that	that	SCONJ
framr-1741	119	29	returns	return	VERB
framr-1741	119	30	volatility	volatility	NOUN
framr-1741	119	31	varied	varied	ADJ
framr-1741	119	32	with	with	ADP
framr-1741	119	33	structural	structural	ADJ
framr-1741	119	34	changes	change	NOUN
framr-1741	119	35	.	.	PUNCT
framr-1741	120	1	kuhe	kuhe	PROPN
framr-1741	120	2	(	(	PUNCT
framr-1741	120	3	2018	2018	NUM
framr-1741	120	4	)	)	PUNCT
framr-1741	120	5	observed	observe	VERB
framr-1741	120	6	high	high	ADJ
framr-1741	120	7	volatility	volatility	NOUN
framr-1741	120	8	persistence	persistence	NOUN
framr-1741	120	9	in	in	ADP
framr-1741	120	10	stock	stock	NOUN
framr-1741	120	11	returns	return	NOUN
framr-1741	120	12	in	in	ADP
framr-1741	120	13	the	the	DET
framr-1741	120	14	nigeria	nigeria	PROPN
framr-1741	120	15	stock	stock	NOUN
framr-1741	120	16	market	market	NOUN
framr-1741	120	17	from	from	ADP
framr-1741	120	18	1999	1999	NUM
framr-1741	120	19	to	to	ADP
framr-1741	120	20	2017	2017	NUM
framr-1741	120	21	.	.	PUNCT
framr-1741	121	1	using	use	VERB
framr-1741	121	2	frictionally	frictionally	ADV
framr-1741	121	3	integrated	integrate	VERB
framr-1741	121	4	egarch	egarch	NOUN
framr-1741	121	5	model	model	NOUN
framr-1741	121	6	,	,	PUNCT
framr-1741	121	7	jebari	jebari	PROPN
framr-1741	121	8	and	and	CCONJ
framr-1741	121	9	hakmaoui	hakmaoui	ADJ
framr-1741	121	10	(	(	PUNCT
framr-1741	121	11	2017	2017	NUM
framr-1741	121	12	)	)	PUNCT
framr-1741	121	13	reported	report	VERB
framr-1741	121	14	strong	strong	ADJ
framr-1741	121	15	volatility	volatility	NOUN
framr-1741	121	16	persistence	persistence	NOUN
framr-1741	121	17	in	in	ADP
framr-1741	121	18	the	the	DET
framr-1741	121	19	moroccan	moroccan	ADJ
framr-1741	121	20	stock	stock	NOUN
framr-1741	121	21	market	market	NOUN
framr-1741	121	22	from	from	ADP
framr-1741	121	23	1993	1993	NUM
framr-1741	121	24	to	to	ADP
framr-1741	121	25	2017	2017	NUM
framr-1741	121	26	.	.	PUNCT
framr-1741	122	1	in	in	ADP
framr-1741	122	2	other	other	ADJ
framr-1741	122	3	studies	study	NOUN
framr-1741	122	4	,	,	PUNCT
framr-1741	122	5	wang	wang	PROPN
framr-1741	122	6	and	and	CCONJ
framr-1741	122	7	yang	yang	PROPN
framr-1741	122	8	(	(	PUNCT
framr-1741	122	9	2017	2017	NUM
framr-1741	122	10	)	)	PUNCT
framr-1741	122	11	observed	observe	VERB
framr-1741	122	12	that	that	SCONJ
framr-1741	122	13	long	long	ADJ
framr-1741	122	14	-	-	PUNCT
framr-1741	122	15	term	term	NOUN
framr-1741	122	16	returns	return	NOUN
framr-1741	122	17	volatility	volatility	NOUN
framr-1741	122	18	in	in	ADP
framr-1741	122	19	the	the	DET
framr-1741	122	20	shanghai	shanghai	PROPN
framr-1741	122	21	stock	stock	PROPN
framr-1741	122	22	exchange	exchange	PROPN
framr-1741	122	23	,	,	PUNCT
framr-1741	122	24	china	china	PROPN
framr-1741	122	25	was	be	AUX
framr-1741	122	26	driven	drive	VERB
framr-1741	122	27	by	by	ADP
framr-1741	122	28	negative	negative	ADJ
framr-1741	122	29	returns	return	NOUN
framr-1741	122	30	.	.	PUNCT
framr-1741	123	1	using	use	VERB
framr-1741	123	2	tgarch	tgarch	PROPN
framr-1741	123	3	,	,	PUNCT
framr-1741	123	4	aguda	aguda	PROPN
framr-1741	123	5	(	(	PUNCT
framr-1741	123	6	2016	2016	NUM
framr-1741	123	7	)	)	PUNCT
framr-1741	123	8	;	;	PUNCT
framr-1741	123	9	owidi	owidi	PROPN
framr-1741	123	10	and	and	CCONJ
framr-1741	123	11	mugo	mugo	PROPN
framr-1741	123	12	-	-	PROPN
framr-1741	123	13	waweru	waweru	PROPN
framr-1741	123	14	(	(	PUNCT
framr-1741	123	15	2016	2016	NUM
framr-1741	123	16	)	)	PUNCT
framr-1741	123	17	;	;	PUNCT
framr-1741	123	18	ndwiga	ndwiga	ADJ
framr-1741	123	19	and	and	CCONJ
framr-1741	123	20	muriu	muriu	PROPN
framr-1741	123	21	(	(	PUNCT
framr-1741	123	22	2016	2016	NUM
framr-1741	123	23	)	)	PUNCT
framr-1741	123	24	showed	show	VERB
framr-1741	123	25	that	that	SCONJ
framr-1741	123	26	stock	stock	NOUN
framr-1741	123	27	returns	return	NOUN
framr-1741	123	28	volatility	volatility	NOUN
framr-1741	123	29	decreased	decrease	VERB
framr-1741	123	30	with	with	ADP
framr-1741	123	31	asymmetric	asymmetric	ADJ
framr-1741	123	32	effects	effect	NOUN
framr-1741	123	33	in	in	ADP
framr-1741	123	34	nigeria	nigeria	PROPN
framr-1741	123	35	and	and	CCONJ
framr-1741	123	36	kenya	kenya	PROPN
framr-1741	123	37	respectively	respectively	ADV
framr-1741	123	38	.	.	PUNCT
framr-1741	124	1	ahmad	ahmad	PROPN
framr-1741	124	2	,	,	PUNCT
framr-1741	124	3	ahmed	ahme	VERB
framr-1741	124	4	,	,	PUNCT
framr-1741	124	5	vveinhardt	vveinhardt	ADJ
framr-1741	124	6	,	,	PUNCT
framr-1741	124	7	and	and	CCONJ
framr-1741	124	8	streimikiene	streimikiene	NOUN
framr-1741	124	9	(	(	PUNCT
framr-1741	124	10	2016	2016	NUM
framr-1741	124	11	)	)	PUNCT
framr-1741	124	12	;	;	PUNCT
framr-1741	124	13	babikir	babikir	NOUN
framr-1741	124	14	,	,	PUNCT
framr-1741	124	15	gupta	gupta	PROPN
framr-1741	124	16	,	,	PUNCT
framr-1741	124	17	and	and	CCONJ
framr-1741	124	18	owusu	owusu	PROPN
framr-1741	124	19	-	-	PROPN
framr-1741	124	20	sekyere	sekyere	PROPN
framr-1741	124	21	(	(	PUNCT
framr-1741	124	22	2010	2010	NUM
framr-1741	124	23	)	)	PUNCT
framr-1741	124	24	and	and	CCONJ
framr-1741	124	25	babikir	babikir	NOUN
framr-1741	124	26	et	et	PROPN
framr-1741	124	27	al	al	PROPN
framr-1741	124	28	.	.	PROPN
framr-1741	124	29	(	(	PUNCT
framr-1741	124	30	2010	2010	NUM
framr-1741	124	31	)	)	PUNCT
framr-1741	124	32	found	find	VERB
framr-1741	124	33	that	that	SCONJ
framr-1741	124	34	the	the	DET
framr-1741	124	35	asian	asian	ADJ
framr-1741	124	36	and	and	CCONJ
framr-1741	124	37	south	south	ADJ
framr-1741	124	38	african	african	ADJ
framr-1741	124	39	markets	market	NOUN
framr-1741	124	40	exhibited	exhibit	VERB
framr-1741	124	41	volatility	volatility	NOUN
framr-1741	124	42	persistence	persistence	NOUN
framr-1741	124	43	of	of	ADP
framr-1741	124	44	returns	return	NOUN
framr-1741	124	45	.	.	PUNCT
framr-1741	125	1	again	again	ADV
framr-1741	125	2	,	,	PUNCT
framr-1741	125	3	using	use	VERB
framr-1741	125	4	the	the	DET
framr-1741	125	5	symmetric	symmetric	ADJ
framr-1741	125	6	garch	garch	NOUN
framr-1741	125	7	(	(	PUNCT
framr-1741	125	8	1,1	1,1	NUM
framr-1741	125	9	)	)	PUNCT
framr-1741	125	10	model	model	NOUN
framr-1741	125	11	,	,	PUNCT
framr-1741	125	12	adewale	adewale	PROPN
framr-1741	125	13	,	,	PUNCT
framr-1741	125	14	olufemi	olufemi	ADJ
framr-1741	125	15	,	,	PUNCT
framr-1741	125	16	and	and	CCONJ
framr-1741	125	17	oseko	oseko	NOUN
framr-1741	125	18	(	(	PUNCT
framr-1741	125	19	2016	2016	NUM
framr-1741	125	20	)	)	PUNCT
framr-1741	125	21	found	find	VERB
framr-1741	125	22	high	high	ADJ
framr-1741	125	23	volatility	volatility	NOUN
framr-1741	125	24	persistence	persistence	NOUN
framr-1741	125	25	with	with	ADP
framr-1741	125	26	no	no	DET
framr-1741	125	27	leverage	leverage	NOUN
framr-1741	125	28	effect	effect	NOUN
framr-1741	125	29	in	in	ADP
framr-1741	125	30	nigeria	nigeria	PROPN
framr-1741	125	31	.	.	PUNCT
framr-1741	126	1	banumathy	banumathy	PROPN
framr-1741	126	2	and	and	CCONJ
framr-1741	126	3	azhagaiah	azhagaiah	PROPN
framr-1741	126	4	(	(	PUNCT
framr-1741	126	5	2015	2015	NUM
framr-1741	126	6	)	)	PUNCT
framr-1741	126	7	;	;	PUNCT
framr-1741	126	8	jegageevan	jegageevan	NOUN
framr-1741	126	9	(	(	PUNCT
framr-1741	126	10	2015	2015	NUM
framr-1741	126	11	)	)	PUNCT
framr-1741	126	12	;	;	PUNCT
framr-1741	126	13	sethapramote	sethapramote	NOUN
framr-1741	126	14	and	and	CCONJ
framr-1741	126	15	prukumpai	prukumpai	NOUN
framr-1741	126	16	(	(	PUNCT
framr-1741	126	17	2012	2012	NUM
framr-1741	126	18	)	)	PUNCT
framr-1741	126	19	and	and	CCONJ
framr-1741	126	20	khedhiri	khedhiri	PROPN
framr-1741	126	21	(	(	PUNCT
framr-1741	126	22	2008	2008	NUM
framr-1741	126	23	)	)	PUNCT
framr-1741	126	24	found	find	VERB
framr-1741	126	25	that	that	SCONJ
framr-1741	126	26	stock	stock	NOUN
framr-1741	126	27	returns	return	NOUN
framr-1741	126	28	volatility	volatility	NOUN
framr-1741	126	29	was	be	AUX
framr-1741	126	30	driven	drive	VERB
framr-1741	126	31	by	by	ADP
framr-1741	126	32	bad	bad	ADJ
framr-1741	126	33	news	news	NOUN
framr-1741	126	34	in	in	ADP
framr-1741	126	35	india	india	PROPN
framr-1741	126	36	,	,	PUNCT
framr-1741	126	37	sri	sri	PROPN
framr-1741	126	38	lanka	lanka	PROPN
framr-1741	126	39	,	,	PUNCT
framr-1741	126	40	thailand	thailand	PROPN
framr-1741	126	41	and	and	CCONJ
framr-1741	126	42	uae	uae	PROPN
framr-1741	126	43	,	,	PUNCT
framr-1741	126	44	respectively	respectively	ADV
framr-1741	126	45	.	.	PUNCT
framr-1741	127	1	using	use	VERB
framr-1741	127	2	bivariate	bivariate	ADJ
framr-1741	127	3	garch	garch	NOUN
framr-1741	127	4	,	,	PUNCT
framr-1741	127	5	wang	wang	PROPN
framr-1741	127	6	,	,	PUNCT
framr-1741	127	7	huang	huang	PROPN
framr-1741	127	8	,	,	PUNCT
framr-1741	127	9	and	and	CCONJ
framr-1741	127	10	padmanabhan	padmanabhan	PROPN
framr-1741	127	11	(	(	PUNCT
framr-1741	127	12	2015	2015	NUM
framr-1741	127	13	)	)	PUNCT
framr-1741	127	14	found	find	VERB
framr-1741	127	15	volatility	volatility	NOUN
framr-1741	127	16	persistence	persistence	NOUN
framr-1741	127	17	of	of	ADP
framr-1741	127	18	stock	stock	NOUN
framr-1741	127	19	returns	return	NOUN
framr-1741	127	20	in	in	ADP
framr-1741	127	21	the	the	DET
framr-1741	127	22	united	united	PROPN
framr-1741	127	23	states	states	PROPN
framr-1741	127	24	.	.	PUNCT
framr-1741	128	1	bentes	bente	NOUN
framr-1741	128	2	and	and	CCONJ
framr-1741	128	3	da	da	PROPN
framr-1741	128	4	cruz	cruz	PROPN
framr-1741	128	5	(	(	PUNCT
framr-1741	128	6	2010	2010	NUM
framr-1741	128	7	)	)	PUNCT
framr-1741	128	8	analyzed	analyze	VERB
framr-1741	128	9	the	the	DET
framr-1741	128	10	g7	g7	PROPN
framr-1741	128	11	markets	market	NOUN
framr-1741	128	12	using	use	VERB
framr-1741	128	13	garch	garch	NOUN
framr-1741	128	14	,	,	PUNCT
framr-1741	128	15	igarch	igarch	NOUN
framr-1741	128	16	and	and	CCONJ
framr-1741	128	17	figarch	figarch	VERB
framr-1741	128	18	and	and	CCONJ
framr-1741	128	19	found	find	VERB
framr-1741	128	20	persistent	persistent	ADJ
framr-1741	128	21	stock	stock	NOUN
framr-1741	128	22	returns	return	VERB
framr-1741	128	23	volatility	volatility	NOUN
framr-1741	128	24	in	in	ADP
framr-1741	128	25	germany	germany	PROPN
framr-1741	128	26	,	,	PUNCT
framr-1741	128	27	italy	italy	PROPN
framr-1741	128	28	and	and	CCONJ
framr-1741	128	29	france	france	PROPN
framr-1741	128	30	,	,	PUNCT
framr-1741	128	31	but	but	CCONJ
framr-1741	128	32	less	less	ADJ
framr-1741	128	33	returns	return	NOUN
framr-1741	128	34	volatility	volatility	NOUN
framr-1741	128	35	in	in	ADP
framr-1741	128	36	japan	japan	PROPN
framr-1741	128	37	.	.	PUNCT
framr-1741	129	1	comparing	compare	VERB
framr-1741	129	2	african	african	ADJ
framr-1741	129	3	markets	market	NOUN
framr-1741	129	4	,	,	PUNCT
framr-1741	129	5	alagidede	alagidede	VERB
framr-1741	129	6	and	and	CCONJ
framr-1741	129	7	panagiotidis	panagiotidi	NOUN
framr-1741	129	8	(	(	PUNCT
framr-1741	129	9	2009	2009	NUM
framr-1741	129	10	)	)	PUNCT
framr-1741	129	11	found	find	VERB
framr-1741	129	12	evidence	evidence	NOUN
framr-1741	129	13	of	of	ADP
framr-1741	129	14	leverage	leverage	NOUN
framr-1741	129	15	effects	effect	NOUN
framr-1741	129	16	.	.	PUNCT
framr-1741	130	1	chiang	chiang	PROPN
framr-1741	130	2	and	and	CCONJ
framr-1741	130	3	doong	doong	PROPN
framr-1741	130	4	(	(	PUNCT
framr-1741	130	5	2001	2001	NUM
framr-1741	130	6	)	)	PUNCT
framr-1741	130	7	revealed	reveal	VERB
framr-1741	130	8	that	that	SCONJ
framr-1741	130	9	bad	bad	ADJ
framr-1741	130	10	news	news	NOUN
framr-1741	130	11	was	be	AUX
framr-1741	130	12	responsible	responsible	ADJ
framr-1741	130	13	for	for	ADP
framr-1741	130	14	volatility	volatility	NOUN
framr-1741	130	15	persistence	persistence	NOUN
framr-1741	130	16	in	in	ADP
framr-1741	130	17	most	most	ADJ
framr-1741	130	18	asian	asian	ADJ
framr-1741	130	19	markets	market	NOUN
framr-1741	130	20	.	.	PUNCT
framr-1741	131	1	berument	berument	NOUN
framr-1741	131	2	and	and	CCONJ
framr-1741	131	3	kiymaz	kiymaz	NOUN
framr-1741	131	4	(	(	PUNCT
framr-1741	131	5	2001	2001	NUM
framr-1741	131	6	)	)	PUNCT
framr-1741	131	7	found	find	VERB
framr-1741	131	8	that	that	SCONJ
framr-1741	131	9	highest	high	ADJ
framr-1741	131	10	and	and	CCONJ
framr-1741	131	11	lowest	low	ADJ
framr-1741	131	12	stock	stock	NOUN
framr-1741	131	13	returns	return	NOUN
framr-1741	131	14	volatility	volatility	NOUN
framr-1741	131	15	in	in	ADP
framr-1741	131	16	the	the	DET
framr-1741	131	17	united	united	PROPN
framr-1741	131	18	states	states	PROPN
framr-1741	131	19	was	be	AUX
framr-1741	131	20	observed	observe	VERB
framr-1741	131	21	on	on	ADP
framr-1741	131	22	wednesday	wednesday	PROPN
framr-1741	131	23	and	and	CCONJ
framr-1741	131	24	monday	monday	PROPN
framr-1741	131	25	,	,	PUNCT
framr-1741	131	26	respectively	respectively	ADV
framr-1741	131	27	.	.	PUNCT
framr-1741	132	1	in	in	ADP
framr-1741	132	2	japan	japan	PROPN
framr-1741	132	3	,	,	PUNCT
framr-1741	132	4	bekaert	bekaert	NOUN
framr-1741	132	5	and	and	CCONJ
framr-1741	132	6	wu	wu	PROPN
framr-1741	132	7	(	(	PUNCT
framr-1741	132	8	2000	2000	NUM
framr-1741	132	9	)	)	PUNCT
framr-1741	132	10	indicated	indicate	VERB
framr-1741	132	11	that	that	SCONJ
framr-1741	132	12	returns	return	VERB
framr-1741	132	13	volatility	volatility	NOUN
framr-1741	132	14	persistence	persistence	NOUN
framr-1741	132	15	and	and	CCONJ
framr-1741	132	16	feedback	feedback	NOUN
framr-1741	132	17	at	at	ADP
framr-1741	132	18	firm	firm	ADJ
framr-1741	132	19	level	level	NOUN
framr-1741	132	20	is	be	AUX
framr-1741	132	21	driven	drive	VERB
framr-1741	132	22	by	by	ADP
framr-1741	132	23	strong	strong	ADJ
framr-1741	132	24	asymmetries	asymmetry	NOUN
framr-1741	132	25	in	in	ADP
framr-1741	132	26	the	the	DET
framr-1741	132	27	conditional	conditional	ADJ
framr-1741	132	28	covariances	covariance	NOUN
framr-1741	132	29	.	.	PUNCT
framr-1741	133	1	3	3	X
framr-1741	133	2	.	.	X
framr-1741	133	3	methodology	methodology	NOUN
framr-1741	133	4	and	and	CCONJ
framr-1741	133	5	data	datum	NOUN
framr-1741	133	6	3.1	3.1	NUM
framr-1741	133	7	.	.	PUNCT
framr-1741	134	1	methodology	methodology	NOUN
framr-1741	134	2	the	the	DET
framr-1741	134	3	degree	degree	NOUN
framr-1741	134	4	of	of	ADP
framr-1741	134	5	volatility	volatility	NOUN
framr-1741	134	6	which	which	PRON
framr-1741	134	7	is	be	AUX
framr-1741	134	8	also	also	ADV
framr-1741	134	9	termed	term	VERB
framr-1741	134	10	“	"	PUNCT
framr-1741	134	11	conditional	conditional	ADJ
framr-1741	134	12	variance	variance	NOUN
framr-1741	134	13	of	of	ADP
framr-1741	134	14	a	a	DET
framr-1741	134	15	financial	financial	ADJ
framr-1741	134	16	asset	asset	NOUN
framr-1741	134	17	”	"	PUNCT
framr-1741	134	18	must	must	AUX
framr-1741	134	19	be	be	AUX
framr-1741	134	20	estimated	estimate	VERB
framr-1741	134	21	in	in	ADP
framr-1741	134	22	a	a	DET
framr-1741	134	23	model	model	NOUN
framr-1741	134	24	that	that	PRON
framr-1741	134	25	best	well	ADV
framr-1741	134	26	show	show	VERB
framr-1741	134	27	its	its	PRON
framr-1741	134	28	time	time	NOUN
framr-1741	134	29	varying	vary	VERB
framr-1741	134	30	conditional	conditional	ADJ
framr-1741	134	31	variance	variance	NOUN
framr-1741	134	32	(	(	PUNCT
framr-1741	134	33	engle	engle	NOUN
framr-1741	134	34	,	,	PUNCT
framr-1741	134	35	1982	1982	NUM
framr-1741	134	36	;	;	PUNCT
framr-1741	134	37	tsay	tsay	PROPN
framr-1741	134	38	,	,	PUNCT
framr-1741	134	39	2010	2010	NUM
framr-1741	134	40	)	)	PUNCT
framr-1741	134	41	.	.	PUNCT
framr-1741	135	1	financial	financial	ADJ
framr-1741	135	2	time	time	NOUN
framr-1741	135	3	series	series	PROPN
framr-1741	135	4	depend	depend	VERB
framr-1741	135	5	on	on	ADP
framr-1741	135	6	three	three	NUM
framr-1741	135	7	basic	basic	ADJ
framr-1741	135	8	factors	factor	NOUN
framr-1741	135	9	,	,	PUNCT
framr-1741	135	10	viz	viz	NUM
framr-1741	135	11	;	;	PUNCT
framr-1741	135	12	their	their	PRON
framr-1741	135	13	own	own	ADJ
framr-1741	135	14	previous	previous	ADJ
framr-1741	135	15	values	value	NOUN
framr-1741	135	16	(	(	PUNCT
framr-1741	135	17	that	that	PRON
framr-1741	135	18	is	be	AUX
framr-1741	135	19	,	,	PUNCT
framr-1741	135	20	autoregressive	autoregressive	ADJ
framr-1741	135	21	)	)	PUNCT
framr-1741	135	22	,	,	PUNCT
framr-1741	135	23	past	past	ADP
framr-1741	135	24	information	information	NOUN
framr-1741	135	25	(	(	PUNCT
framr-1741	135	26	that	that	PRON
framr-1741	135	27	is	be	AUX
framr-1741	135	28	,	,	PUNCT
framr-1741	135	29	conditional	conditional	ADJ
framr-1741	135	30	)	)	PUNCT
framr-1741	135	31	and	and	CCONJ
framr-1741	135	32	exhibit	exhibit	VERB
framr-1741	135	33	non	non	ADJ
framr-1741	135	34	-	-	ADJ
framr-1741	135	35	constant	constant	ADJ
framr-1741	135	36	variance	variance	NOUN
framr-1741	135	37	(	(	PUNCT
framr-1741	135	38	that	that	PRON
framr-1741	135	39	is	be	AUX
framr-1741	135	40	,	,	PUNCT
framr-1741	135	41	heteroscedasticity	heteroscedasticity	PROPN
framr-1741	135	42	)	)	PUNCT
framr-1741	135	43	which	which	PRON
framr-1741	135	44	forms	form	VERB
framr-1741	135	45	the	the	DET
framr-1741	135	46	bedrock	bedrock	NOUN
framr-1741	135	47	of	of	ADP
framr-1741	135	48	the	the	DET
framr-1741	135	49	popular	popular	ADJ
framr-1741	135	50	autoregressive	autoregressive	ADJ
framr-1741	135	51	conditional	conditional	ADJ
framr-1741	135	52	heteroscedasticity	heteroscedasticity	NOUN
framr-1741	135	53	(	(	PUNCT
framr-1741	135	54	arch	arch	NOUN
framr-1741	135	55	)	)	PUNCT
framr-1741	135	56	model	model	NOUN
framr-1741	135	57	.	.	PUNCT
framr-1741	136	1	hence	hence	ADV
framr-1741	136	2	,	,	PUNCT
framr-1741	136	3	the	the	DET
framr-1741	136	4	presence	presence	NOUN
framr-1741	136	5	of	of	ADP
framr-1741	136	6	these	these	DET
framr-1741	136	7	fundamental	fundamental	ADJ
framr-1741	136	8	features	feature	VERB
framr-1741	136	9	financial	financial	ADJ
framr-1741	136	10	risk	risk	NOUN
framr-1741	136	11	and	and	CCONJ
framr-1741	136	12	management	management	NOUN
framr-1741	136	13	reviews	review	NOUN
framr-1741	136	14	,	,	PUNCT
framr-1741	136	15	2021	2021	NUM
framr-1741	136	16	,	,	PUNCT
framr-1741	136	17	7(1	7(1	NUM
framr-1741	136	18	):	):	PUNCT
framr-1741	136	19	1	1	NUM
framr-1741	136	20	-	-	SYM
framr-1741	136	21	15	15	NUM
framr-1741	136	22	6	6	NUM
framr-1741	136	23	©	©	PROPN
framr-1741	136	24	2021	2021	NUM
framr-1741	136	25	conscientia	conscientia	PROPN
framr-1741	136	26	beam	beam	PROPN
framr-1741	136	27	.	.	PUNCT
framr-1741	137	1	all	all	DET
framr-1741	137	2	rights	right	NOUN
framr-1741	137	3	reserved	reserve	VERB
framr-1741	137	4	.	.	PUNCT
framr-1741	138	1	should	should	AUX
framr-1741	138	2	be	be	AUX
framr-1741	138	3	well	well	ADV
framr-1741	138	4	captured	capture	VERB
framr-1741	138	5	in	in	ADP
framr-1741	138	6	the	the	DET
framr-1741	138	7	proposed	propose	VERB
framr-1741	138	8	volatility	volatility	NOUN
framr-1741	138	9	model(s	model(s	NOUN
framr-1741	138	10	)	)	PUNCT
framr-1741	138	11	to	to	PART
framr-1741	138	12	be	be	AUX
framr-1741	138	13	adopted	adopt	VERB
framr-1741	138	14	in	in	ADP
framr-1741	138	15	a	a	DET
framr-1741	138	16	research	research	NOUN
framr-1741	138	17	study	study	NOUN
framr-1741	138	18	of	of	ADP
framr-1741	138	19	this	this	DET
framr-1741	138	20	nature	nature	NOUN
framr-1741	138	21	(	(	PUNCT
framr-1741	138	22	cont	cont	NOUN
framr-1741	138	23	,	,	PUNCT
framr-1741	138	24	2005	2005	NUM
framr-1741	138	25	)	)	PUNCT
framr-1741	138	26	.	.	PUNCT
framr-1741	139	1	recent	recent	ADJ
framr-1741	139	2	econometric	econometric	ADJ
framr-1741	139	3	techniques	technique	NOUN
framr-1741	139	4	within	within	ADP
framr-1741	139	5	the	the	DET
framr-1741	139	6	scope	scope	NOUN
framr-1741	139	7	of	of	ADP
framr-1741	139	8	garch	garch	NOUN
framr-1741	139	9	family	family	NOUN
framr-1741	139	10	models	model	NOUN
framr-1741	139	11	provide	provide	VERB
framr-1741	139	12	the	the	DET
framr-1741	139	13	tool	tool	NOUN
framr-1741	139	14	for	for	ADP
framr-1741	139	15	solving	solve	VERB
framr-1741	139	16	this	this	DET
framr-1741	139	17	research	research	NOUN
framr-1741	139	18	problem	problem	NOUN
framr-1741	139	19	.	.	PUNCT
framr-1741	140	1	in	in	ADP
framr-1741	140	2	this	this	DET
framr-1741	140	3	paper	paper	NOUN
framr-1741	140	4	,	,	PUNCT
framr-1741	140	5	as	as	SCONJ
framr-1741	140	6	originated	originate	VERB
framr-1741	140	7	by	by	ADP
framr-1741	140	8	bollerslev	bollerslev	ADJ
framr-1741	140	9	(	(	PUNCT
framr-1741	140	10	1986	1986	NUM
framr-1741	140	11	)	)	PUNCT
framr-1741	140	12	and	and	CCONJ
framr-1741	140	13	applied	apply	VERB
framr-1741	140	14	in	in	ADP
framr-1741	140	15	recent	recent	ADJ
framr-1741	140	16	empirical	empirical	ADJ
framr-1741	140	17	studies	study	NOUN
framr-1741	140	18	bello	bello	X
framr-1741	140	19	(	(	PUNCT
framr-1741	140	20	2020	2020	NUM
framr-1741	140	21	)	)	PUNCT
framr-1741	140	22	;	;	PUNCT
framr-1741	140	23	ndei	ndei	NOUN
framr-1741	140	24	et	et	PROPN
framr-1741	140	25	al	al	PROPN
framr-1741	140	26	.	.	PROPN
framr-1741	141	1	(	(	PUNCT
framr-1741	141	2	2019	2019	NUM
framr-1741	141	3	)	)	PUNCT
framr-1741	141	4	;	;	PUNCT
framr-1741	141	5	banumathy	banumathy	ADJ
framr-1741	141	6	and	and	CCONJ
framr-1741	141	7	azhagaiah	azhagaiah	PROPN
framr-1741	141	8	(	(	PUNCT
framr-1741	141	9	2015	2015	NUM
framr-1741	141	10	)	)	PUNCT
framr-1741	141	11	;	;	PUNCT
framr-1741	141	12	jegageevan	jegageevan	NOUN
framr-1741	141	13	(	(	PUNCT
framr-1741	141	14	2015	2015	NUM
framr-1741	141	15	)	)	PUNCT
framr-1741	141	16	the	the	DET
framr-1741	141	17	garch	garch	NOUN
framr-1741	141	18	model	model	NOUN
framr-1741	141	19	was	be	AUX
framr-1741	141	20	adopted	adopt	VERB
framr-1741	141	21	to	to	PART
framr-1741	141	22	unravel	unravel	VERB
framr-1741	141	23	stock	stock	NOUN
framr-1741	141	24	returns	return	NOUN
framr-1741	141	25	volatility	volatility	NOUN
framr-1741	141	26	from	from	ADP
framr-1741	141	27	a	a	DET
framr-1741	141	28	global	global	ADJ
framr-1741	141	29	perspective	perspective	NOUN
framr-1741	141	30	.	.	PUNCT
framr-1741	142	1	in	in	ADP
framr-1741	142	2	the	the	DET
framr-1741	142	3	garch	garch	NOUN
framr-1741	142	4	model	model	NOUN
framr-1741	142	5	,	,	PUNCT
framr-1741	142	6	the	the	DET
framr-1741	142	7	conditional	conditional	ADJ
framr-1741	142	8	variance	variance	NOUN
framr-1741	142	9	is	be	AUX
framr-1741	142	10	a	a	DET
framr-1741	142	11	function	function	NOUN
framr-1741	142	12	of	of	ADP
framr-1741	142	13	its	its	PRON
framr-1741	142	14	previous	previous	ADJ
framr-1741	142	15	own	own	ADJ
framr-1741	142	16	lags	lag	NOUN
framr-1741	142	17	.	.	PUNCT
framr-1741	143	1	stock	stock	NOUN
framr-1741	143	2	returns	return	NOUN
framr-1741	143	3	volatility	volatility	NOUN
framr-1741	143	4	is	be	AUX
framr-1741	143	5	determined	determine	VERB
framr-1741	143	6	by	by	ADP
framr-1741	143	7	the	the	DET
framr-1741	143	8	magnitude	magnitude	NOUN
framr-1741	143	9	of	of	ADP
framr-1741	143	10	coefficients	coefficient	NOUN
framr-1741	143	11	and	and	CCONJ
framr-1741	143	12	.	.	PUNCT
framr-1741	144	1	if	if	SCONJ
framr-1741	144	2	the	the	DET
framr-1741	144	3	addition	addition	NOUN
framr-1741	144	4	of	of	ADP
framr-1741	144	5	both	both	DET
framr-1741	144	6	parameters	parameter	NOUN
framr-1741	144	7	is	be	AUX
framr-1741	144	8	equal	equal	ADJ
framr-1741	144	9	to	to	ADP
framr-1741	144	10	or	or	CCONJ
framr-1741	144	11	approximately	approximately	ADV
framr-1741	144	12	one	one	NUM
framr-1741	144	13	(	(	PUNCT
framr-1741	144	14	1	1	NUM
framr-1741	144	15	)	)	PUNCT
framr-1741	144	16	,	,	PUNCT
framr-1741	144	17	then	then	ADV
framr-1741	144	18	volatility	volatility	NOUN
framr-1741	144	19	of	of	ADP
framr-1741	144	20	the	the	DET
framr-1741	144	21	return	return	NOUN
framr-1741	144	22	series	series	NOUN
framr-1741	144	23	is	be	AUX
framr-1741	144	24	said	say	VERB
framr-1741	144	25	to	to	PART
framr-1741	144	26	be	be	AUX
framr-1741	144	27	persistent	persistent	ADJ
framr-1741	144	28	and	and	CCONJ
framr-1741	144	29	vice	vice	ADV
framr-1741	144	30	versa	versa	ADV
framr-1741	144	31	.	.	PUNCT
framr-1741	145	1	in	in	ADP
framr-1741	145	2	its	its	PRON
framr-1741	145	3	simplest	simple	ADJ
framr-1741	145	4	form	form	NOUN
framr-1741	145	5	,	,	PUNCT
framr-1741	145	6	the	the	DET
framr-1741	145	7	symmetrical	symmetrical	ADJ
framr-1741	145	8	garch	garch	NOUN
framr-1741	145	9	models	model	NOUN
framr-1741	145	10	(	(	PUNCT
framr-1741	145	11	mean	mean	VERB
framr-1741	145	12	and	and	CCONJ
framr-1741	145	13	variance	variance	NOUN
framr-1741	145	14	equations	equation	NOUN
framr-1741	145	15	)	)	PUNCT
framr-1741	145	16	is	be	AUX
framr-1741	145	17	specified	specify	VERB
framr-1741	145	18	as	as	SCONJ
framr-1741	145	19	displayed	display	VERB
framr-1741	145	20	in	in	ADP
framr-1741	145	21	equations	equation	NOUN
framr-1741	145	22	2	2	NUM
framr-1741	145	23	and	and	CCONJ
framr-1741	145	24	3	3	NUM
framr-1741	145	25	:	:	PUNCT
framr-1741	145	26	mean	mean	ADJ
framr-1741	145	27	equation	equation	NOUN
framr-1741	145	28	:	:	PUNCT
framr-1741	145	29	variance	variance	NOUN
framr-1741	145	30	equation	equation	NOUN
framr-1741	145	31	:	:	PUNCT
framr-1741	145	32	where	where	SCONJ
framr-1741	145	33	,	,	PUNCT
framr-1741	145	34	represents	represent	VERB
framr-1741	145	35	the	the	DET
framr-1741	145	36	stock	stock	NOUN
framr-1741	145	37	market	market	NOUN
framr-1741	145	38	return	return	NOUN
framr-1741	145	39	at	at	ADP
framr-1741	145	40	time	time	NOUN
framr-1741	145	41	.	.	PUNCT
framr-1741	146	1	denote	denote	VERB
framr-1741	146	2	the	the	DET
framr-1741	146	3	average	average	ADJ
framr-1741	146	4	return	return	NOUN
framr-1741	146	5	of	of	ADP
framr-1741	146	6	the	the	DET
framr-1741	146	7	market	market	NOUN
framr-1741	146	8	.	.	PUNCT
framr-1741	147	1	indicate	indicate	VERB
framr-1741	147	2	the	the	DET
framr-1741	147	3	residual	residual	ADJ
framr-1741	147	4	return	return	NOUN
framr-1741	147	5	.	.	PUNCT
framr-1741	148	1	in	in	ADP
framr-1741	148	2	a	a	DET
framr-1741	148	3	garch	garch	NOUN
framr-1741	148	4	model	model	NOUN
framr-1741	148	5	,	,	PUNCT
framr-1741	148	6	the	the	DET
framr-1741	148	7	conditional	conditional	ADJ
framr-1741	148	8	variance	variance	NOUN
framr-1741	148	9	equation	equation	NOUN
framr-1741	148	10	is	be	AUX
framr-1741	148	11	directly	directly	ADV
framr-1741	148	12	fitted	fit	VERB
framr-1741	148	13	into	into	ADP
framr-1741	148	14	the	the	DET
framr-1741	148	15	mean	mean	ADJ
framr-1741	148	16	equation	equation	NOUN
framr-1741	148	17	,	,	PUNCT
framr-1741	148	18	leading	lead	VERB
framr-1741	148	19	to	to	ADP
framr-1741	148	20	the	the	DET
framr-1741	148	21	garch	garch	NOUN
framr-1741	148	22	-	-	PUNCT
framr-1741	148	23	m	m	NOUN
framr-1741	148	24	model	model	NOUN
framr-1741	148	25	(	(	PUNCT
framr-1741	148	26	mean	mean	ADJ
framr-1741	148	27	-	-	PUNCT
framr-1741	148	28	reversion	reversion	NOUN
framr-1741	148	29	garch	garch	NOUN
framr-1741	148	30	)	)	PUNCT
framr-1741	148	31	.	.	PUNCT
framr-1741	149	1	regarding	regard	VERB
framr-1741	149	2	the	the	DET
framr-1741	149	3	garch	garch	NOUN
framr-1741	149	4	-	-	PUNCT
framr-1741	149	5	m	m	NOUN
framr-1741	149	6	model	model	NOUN
framr-1741	149	7	,	,	PUNCT
framr-1741	149	8	the	the	DET
framr-1741	149	9	coefficient	coefficient	NOUN
framr-1741	149	10	in	in	ADP
framr-1741	149	11	the	the	DET
framr-1741	149	12	mean	mean	ADJ
framr-1741	149	13	equation	equation	NOUN
framr-1741	149	14	represents	represent	VERB
framr-1741	149	15	the	the	DET
framr-1741	149	16	risk	risk	NOUN
framr-1741	149	17	premium	premium	NOUN
framr-1741	149	18	.	.	PUNCT
framr-1741	150	1	if	if	SCONJ
framr-1741	150	2	is	be	AUX
framr-1741	150	3	positive	positive	ADJ
framr-1741	150	4	,	,	PUNCT
framr-1741	150	5	it	it	PRON
framr-1741	150	6	indicates	indicate	VERB
framr-1741	150	7	that	that	SCONJ
framr-1741	150	8	there	there	PRON
framr-1741	150	9	is	be	VERB
framr-1741	150	10	positive	positive	ADJ
framr-1741	150	11	relationship	relationship	NOUN
framr-1741	150	12	between	between	ADP
framr-1741	150	13	stock	stock	NOUN
framr-1741	150	14	return	return	NOUN
framr-1741	150	15	and	and	CCONJ
framr-1741	150	16	its	its	PRON
framr-1741	150	17	volatility	volatility	NOUN
framr-1741	150	18	,	,	PUNCT
framr-1741	150	19	that	that	ADV
framr-1741	150	20	is	is	ADV
framr-1741	150	21	,	,	PUNCT
framr-1741	150	22	an	an	DET
framr-1741	150	23	increase	increase	NOUN
framr-1741	150	24	in	in	ADP
framr-1741	150	25	mean	mean	ADJ
framr-1741	150	26	return	return	NOUN
framr-1741	150	27	is	be	AUX
framr-1741	150	28	determined	determine	VERB
framr-1741	150	29	by	by	ADP
framr-1741	150	30	a	a	DET
framr-1741	150	31	rise	rise	NOUN
framr-1741	150	32	in	in	ADP
framr-1741	150	33	conditional	conditional	ADJ
framr-1741	150	34	variance	variance	NOUN
framr-1741	150	35	as	as	ADP
framr-1741	150	36	a	a	DET
framr-1741	150	37	proxy	proxy	NOUN
framr-1741	150	38	of	of	ADP
framr-1741	150	39	higher	high	ADJ
framr-1741	150	40	risk	risk	NOUN
framr-1741	150	41	.	.	PUNCT
framr-1741	151	1	as	as	ADP
framr-1741	151	2	a	a	DET
framr-1741	151	3	matter	matter	NOUN
framr-1741	151	4	of	of	ADP
framr-1741	151	5	fact	fact	NOUN
framr-1741	151	6	,	,	PUNCT
framr-1741	151	7	a	a	DET
framr-1741	151	8	positive	positive	ADJ
framr-1741	151	9	and	and	CCONJ
framr-1741	151	10	significant	significant	ADJ
framr-1741	151	11	indicates	indicate	VERB
framr-1741	151	12	presence	presence	NOUN
framr-1741	151	13	of	of	ADP
framr-1741	151	14	risk	risk	NOUN
framr-1741	151	15	-	-	PUNCT
framr-1741	151	16	return	return	NOUN
framr-1741	151	17	tradeoff	tradeoff	NOUN
framr-1741	151	18	or	or	CCONJ
framr-1741	151	19	risk	risk	NOUN
framr-1741	151	20	premium	premium	NOUN
framr-1741	151	21	.	.	PUNCT
framr-1741	152	1	in	in	ADP
framr-1741	152	2	the	the	DET
framr-1741	152	3	garch	garch	NOUN
framr-1741	152	4	-	-	PUNCT
framr-1741	152	5	m	m	NOUN
framr-1741	152	6	model	model	NOUN
framr-1741	152	7	,	,	PUNCT
framr-1741	152	8	stock	stock	NOUN
framr-1741	152	9	return	return	NOUN
framr-1741	152	10	is	be	AUX
framr-1741	152	11	dependent	dependent	ADJ
framr-1741	152	12	on	on	ADP
framr-1741	152	13	its	its	PRON
framr-1741	152	14	own	own	ADJ
framr-1741	152	15	volatility	volatility	NOUN
framr-1741	152	16	and	and	CCONJ
framr-1741	152	17	as	as	SCONJ
framr-1741	152	18	such	such	DET
framr-1741	152	19	a	a	DET
framr-1741	152	20	simple	simple	ADJ
framr-1741	152	21	garchm	garchm	NOUN
framr-1741	152	22	(	(	PUNCT
framr-1741	152	23	1,1	1,1	NUM
framr-1741	152	24	)	)	PUNCT
framr-1741	152	25	model	model	NOUN
framr-1741	152	26	is	be	AUX
framr-1741	152	27	specified	specify	VERB
framr-1741	152	28	as	as	SCONJ
framr-1741	152	29	shown	show	VERB
framr-1741	152	30	in	in	ADP
framr-1741	152	31	equations	equation	NOUN
framr-1741	152	32	4	4	NUM
framr-1741	152	33	and	and	CCONJ
framr-1741	152	34	5	5	NUM
framr-1741	152	35	:	:	PUNCT
framr-1741	152	36	mean	mean	ADJ
framr-1741	152	37	equation	equation	NOUN
framr-1741	152	38	:	:	PUNCT
framr-1741	152	39	variance	variance	NOUN
framr-1741	152	40	equation	equation	NOUN
framr-1741	152	41	:	:	PUNCT
framr-1741	152	42	the	the	DET
framr-1741	152	43	shortcoming	shortcoming	NOUN
framr-1741	152	44	of	of	ADP
framr-1741	152	45	symmetric	symmetric	ADJ
framr-1741	152	46	garch	garch	NOUN
framr-1741	152	47	models	model	NOUN
framr-1741	152	48	is	be	AUX
framr-1741	152	49	that	that	SCONJ
framr-1741	152	50	the	the	DET
framr-1741	152	51	conditional	conditional	ADJ
framr-1741	152	52	variance	variance	NOUN
framr-1741	152	53	does	do	AUX
framr-1741	152	54	not	not	PART
framr-1741	152	55	react	react	VERB
framr-1741	152	56	asymmetrically	asymmetrically	ADV
framr-1741	152	57	to	to	ADP
framr-1741	152	58	fluctuations	fluctuation	NOUN
framr-1741	152	59	in	in	ADP
framr-1741	152	60	returns	return	NOUN
framr-1741	152	61	.	.	PUNCT
framr-1741	153	1	as	as	ADP
framr-1741	153	2	a	a	DET
framr-1741	153	3	result	result	NOUN
framr-1741	153	4	,	,	PUNCT
framr-1741	153	5	a	a	DET
framr-1741	153	6	number	number	NOUN
framr-1741	153	7	of	of	ADP
framr-1741	153	8	models	model	NOUN
framr-1741	153	9	known	know	VERB
framr-1741	153	10	as	as	ADP
framr-1741	153	11	asymmetric	asymmetric	ADJ
framr-1741	153	12	models	model	NOUN
framr-1741	153	13	such	such	ADJ
framr-1741	153	14	as	as	ADP
framr-1741	153	15	egarch	egarch	NOUN
framr-1741	153	16	and	and	CCONJ
framr-1741	153	17	tgarch	tgarch	NOUN
framr-1741	153	18	,	,	PUNCT
framr-1741	153	19	amongst	amongst	ADP
framr-1741	153	20	others	other	NOUN
framr-1741	153	21	,	,	PUNCT
framr-1741	153	22	have	have	AUX
framr-1741	153	23	been	be	AUX
framr-1741	153	24	developed	develop	VERB
framr-1741	153	25	to	to	PART
framr-1741	153	26	deal	deal	VERB
framr-1741	153	27	with	with	ADP
framr-1741	153	28	this	this	DET
framr-1741	153	29	issue	issue	NOUN
framr-1741	153	30	.	.	PUNCT
framr-1741	154	1	in	in	ADP
framr-1741	154	2	consonance	consonance	NOUN
framr-1741	154	3	with	with	ADP
framr-1741	154	4	banumathy	banumathy	ADJ
framr-1741	154	5	and	and	CCONJ
framr-1741	154	6	azhagaiah	azhagaiah	PROPN
framr-1741	154	7	(	(	PUNCT
framr-1741	154	8	2015	2015	NUM
framr-1741	154	9	)	)	PUNCT
framr-1741	154	10	to	to	PART
framr-1741	154	11	ascertain	ascertain	VERB
framr-1741	154	12	the	the	DET
framr-1741	154	13	relationship	relationship	NOUN
framr-1741	154	14	between	between	ADP
framr-1741	154	15	asymmetric	asymmetric	ADJ
framr-1741	154	16	volatility	volatility	NOUN
framr-1741	154	17	and	and	CCONJ
framr-1741	154	18	stock	stock	NOUN
framr-1741	154	19	returns	return	NOUN
framr-1741	154	20	,	,	PUNCT
framr-1741	154	21	the	the	DET
framr-1741	154	22	exponential	exponential	ADJ
framr-1741	154	23	garch	garch	NOUN
framr-1741	154	24	(	(	PUNCT
framr-1741	154	25	egarch	egarch	NOUN
framr-1741	154	26	)	)	PUNCT
framr-1741	154	27	and	and	CCONJ
framr-1741	154	28	the	the	DET
framr-1741	154	29	threshold	threshold	NOUN
framr-1741	154	30	garch	garch	NOUN
framr-1741	154	31	(	(	PUNCT
framr-1741	154	32	tgarch	tgarch	NOUN
framr-1741	154	33	)	)	PUNCT
framr-1741	154	34	models	model	NOUN
framr-1741	154	35	were	be	AUX
framr-1741	154	36	applied	apply	VERB
framr-1741	154	37	.	.	PUNCT
framr-1741	155	1	the	the	DET
framr-1741	155	2	egarch	egarch	NOUN
framr-1741	155	3	model	model	NOUN
framr-1741	155	4	is	be	AUX
framr-1741	155	5	hinged	hinge	VERB
framr-1741	155	6	on	on	ADP
framr-1741	155	7	logarithmic	logarithmic	ADJ
framr-1741	155	8	expression	expression	NOUN
framr-1741	155	9	of	of	ADP
framr-1741	155	10	the	the	DET
framr-1741	155	11	conditional	conditional	ADJ
framr-1741	155	12	variability	variability	NOUN
framr-1741	155	13	.	.	PUNCT
framr-1741	156	1	with	with	ADP
framr-1741	156	2	the	the	DET
framr-1741	156	3	egarch	egarch	NOUN
framr-1741	156	4	model	model	NOUN
framr-1741	156	5	,	,	PUNCT
framr-1741	156	6	the	the	DET
framr-1741	156	7	presence	presence	NOUN
framr-1741	156	8	of	of	ADP
framr-1741	156	9	leverage	leverage	NOUN
framr-1741	156	10	effect	effect	NOUN
framr-1741	156	11	can	can	AUX
framr-1741	156	12	be	be	AUX
framr-1741	156	13	tested	test	VERB
framr-1741	156	14	(	(	PUNCT
framr-1741	156	15	nelson	nelson	PROPN
framr-1741	156	16	,	,	PUNCT
framr-1741	156	17	1991	1991	NUM
framr-1741	156	18	)	)	PUNCT
framr-1741	156	19	.	.	PUNCT
framr-1741	157	1	the	the	DET
framr-1741	157	2	presence	presence	NOUN
framr-1741	157	3	of	of	ADP
framr-1741	157	4	leverage	leverage	NOUN
framr-1741	157	5	effect	effect	NOUN
framr-1741	157	6	or	or	CCONJ
framr-1741	157	7	asymmetry	asymmetry	NOUN
framr-1741	157	8	is	be	AUX
framr-1741	157	9	tested	test	VERB
framr-1741	157	10	based	base	VERB
framr-1741	157	11	on	on	ADP
framr-1741	157	12	the	the	DET
framr-1741	157	13	hypothesis	hypothesis	NOUN
framr-1741	157	14	that	that	PRON
framr-1741	157	15	financial	financial	ADJ
framr-1741	157	16	risk	risk	NOUN
framr-1741	157	17	and	and	CCONJ
framr-1741	157	18	management	management	NOUN
framr-1741	157	19	reviews	review	NOUN
framr-1741	157	20	,	,	PUNCT
framr-1741	157	21	2021	2021	NUM
framr-1741	157	22	,	,	PUNCT
framr-1741	157	23	7(1	7(1	NUM
framr-1741	157	24	):	):	PUNCT
framr-1741	157	25	1	1	NUM
framr-1741	157	26	-	-	SYM
framr-1741	157	27	15	15	NUM
framr-1741	157	28	7	7	NUM
framr-1741	157	29	©	©	PROPN
framr-1741	157	30	2021	2021	NUM
framr-1741	157	31	conscientia	conscientia	PROPN
framr-1741	157	32	beam	beam	PROPN
framr-1741	157	33	.	.	PUNCT
framr-1741	158	1	all	all	DET
framr-1741	158	2	rights	right	NOUN
framr-1741	158	3	reserved	reserve	VERB
framr-1741	158	4	.	.	PUNCT
framr-1741	158	5	.	.	PUNCT
framr-1741	159	1	the	the	DET
framr-1741	159	2	impact	impact	NOUN
framr-1741	159	3	is	be	AUX
framr-1741	159	4	said	say	VERB
framr-1741	159	5	to	to	PART
framr-1741	159	6	be	be	AUX
framr-1741	159	7	symmetric	symmetric	ADJ
framr-1741	159	8	if	if	SCONJ
framr-1741	159	9	.	.	PUNCT
framr-1741	160	1	the	the	DET
framr-1741	160	2	egarch	egarch	NOUN
framr-1741	160	3	model	model	NOUN
framr-1741	160	4	is	be	AUX
framr-1741	160	5	expressed	express	VERB
framr-1741	160	6	as	as	SCONJ
framr-1741	160	7	shown	show	VERB
framr-1741	160	8	in	in	ADP
framr-1741	160	9	equation	equation	NOUN
framr-1741	160	10	6	6	NUM
framr-1741	160	11	below	below	ADV
framr-1741	160	12	:	:	PUNCT
framr-1741	160	13	where	where	SCONJ
framr-1741	160	14	,	,	PUNCT
framr-1741	160	15	denote	denote	VERB
framr-1741	160	16	the	the	DET
framr-1741	160	17	log	log	NOUN
framr-1741	160	18	of	of	ADP
framr-1741	160	19	the	the	DET
framr-1741	160	20	conditional	conditional	ADJ
framr-1741	160	21	variance	variance	NOUN
framr-1741	160	22	.	.	PUNCT
framr-1741	161	1	represents	represent	VERB
framr-1741	161	2	the	the	DET
framr-1741	161	3	leverage	leverage	NOUN
framr-1741	161	4	term	term	NOUN
framr-1741	161	5	or	or	CCONJ
framr-1741	161	6	asymmetry	asymmetry	NOUN
framr-1741	161	7	with	with	ADP
framr-1741	161	8	regards	regard	NOUN
framr-1741	161	9	to	to	ADP
framr-1741	161	10	the	the	DET
framr-1741	161	11	threshold	threshold	NOUN
framr-1741	161	12	garch	garch	NOUN
framr-1741	161	13	(	(	PUNCT
framr-1741	161	14	tgarch	tgarch	NOUN
framr-1741	161	15	)	)	PUNCT
framr-1741	161	16	,	,	PUNCT
framr-1741	161	17	in	in	ADP
framr-1741	161	18	tandem	tandem	NOUN
framr-1741	161	19	with	with	ADP
framr-1741	161	20	zakoian	zakoian	PROPN
framr-1741	161	21	(	(	PUNCT
framr-1741	161	22	1994	1994	NUM
framr-1741	161	23	)	)	PUNCT
framr-1741	161	24	the	the	DET
framr-1741	161	25	following	follow	VERB
framr-1741	161	26	equation	equation	NOUN
framr-1741	161	27	7	7	NUM
framr-1741	161	28	was	be	AUX
framr-1741	161	29	applied	apply	VERB
framr-1741	161	30	:	:	PUNCT
framr-1741	161	31	where	where	SCONJ
framr-1741	161	32	,	,	PUNCT
framr-1741	161	33	is	be	AUX
framr-1741	161	34	the	the	DET
framr-1741	161	35	asymmetry	asymmetry	NOUN
framr-1741	161	36	or	or	CCONJ
framr-1741	161	37	leverage	leverage	NOUN
framr-1741	161	38	parameter	parameter	NOUN
framr-1741	161	39	.	.	PUNCT
framr-1741	162	1	in	in	ADP
framr-1741	162	2	the	the	DET
framr-1741	162	3	tgarch	tgarch	NOUN
framr-1741	162	4	model	model	NOUN
framr-1741	162	5	,	,	PUNCT
framr-1741	162	6	good	good	ADJ
framr-1741	162	7	news	news	NOUN
framr-1741	162	8	and	and	CCONJ
framr-1741	162	9	bad	bad	ADJ
framr-1741	162	10	news	news	NOUN
framr-1741	162	11	on	on	ADP
framr-1741	162	12	the	the	DET
framr-1741	162	13	conditional	conditional	ADJ
framr-1741	162	14	variance	variance	NOUN
framr-1741	162	15	.	.	PUNCT
framr-1741	163	1	here	here	ADV
framr-1741	163	2	,	,	PUNCT
framr-1741	163	3	the	the	DET
framr-1741	163	4	impact	impact	NOUN
framr-1741	163	5	of	of	ADP
framr-1741	163	6	good	good	ADJ
framr-1741	163	7	news	news	NOUN
framr-1741	163	8	is	be	AUX
framr-1741	163	9	while	while	SCONJ
framr-1741	163	10	the	the	DET
framr-1741	163	11	impact	impact	NOUN
framr-1741	163	12	of	of	ADP
framr-1741	163	13	bad	bad	ADJ
framr-1741	163	14	news	news	NOUN
framr-1741	163	15	is	be	AUX
framr-1741	163	16	.	.	PUNCT
framr-1741	164	1	as	as	ADP
framr-1741	164	2	such	such	ADJ
framr-1741	164	3	,	,	PUNCT
framr-1741	164	4	supposing	suppose	VERB
framr-1741	164	5	is	be	AUX
framr-1741	164	6	positive	positive	ADJ
framr-1741	164	7	and	and	CCONJ
framr-1741	164	8	significant	significant	ADJ
framr-1741	164	9	,	,	PUNCT
framr-1741	164	10	negative	negative	ADJ
framr-1741	164	11	shocks	shock	NOUN
framr-1741	164	12	would	would	AUX
framr-1741	164	13	have	have	VERB
framr-1741	164	14	a	a	DET
framr-1741	164	15	greater	great	ADJ
framr-1741	164	16	impact	impact	NOUN
framr-1741	164	17	on	on	ADP
framr-1741	164	18	prior	prior	ADV
framr-1741	164	19	to	to	ADP
framr-1741	164	20	estimating	estimate	VERB
framr-1741	164	21	the	the	DET
framr-1741	164	22	garch	garch	NOUN
framr-1741	164	23	models	model	NOUN
framr-1741	164	24	,	,	PUNCT
framr-1741	164	25	the	the	DET
framr-1741	164	26	distributional	distributional	ADJ
framr-1741	164	27	properties	property	NOUN
framr-1741	164	28	of	of	ADP
framr-1741	164	29	the	the	DET
framr-1741	164	30	return	return	NOUN
framr-1741	164	31	series	series	NOUN
framr-1741	164	32	were	be	AUX
framr-1741	164	33	considered	consider	VERB
framr-1741	164	34	.	.	PUNCT
framr-1741	165	1	to	to	PART
framr-1741	165	2	specify	specify	VERB
framr-1741	165	3	the	the	DET
framr-1741	165	4	distributional	distributional	ADJ
framr-1741	165	5	properties	property	NOUN
framr-1741	165	6	of	of	ADP
framr-1741	165	7	the	the	DET
framr-1741	165	8	daily	daily	ADJ
framr-1741	165	9	return	return	NOUN
framr-1741	165	10	series	series	NOUN
framr-1741	165	11	of	of	ADP
framr-1741	165	12	s&p	s&p	PROPN
framr-1741	165	13	global	global	ADJ
framr-1741	165	14	1200	1200	NUM
framr-1741	165	15	index	index	NOUN
framr-1741	165	16	,	,	PUNCT
framr-1741	165	17	the	the	DET
framr-1741	165	18	descriptive	descriptive	ADJ
framr-1741	165	19	statistic	statistic	NOUN
framr-1741	165	20	was	be	AUX
framr-1741	165	21	carried	carry	VERB
framr-1741	165	22	out	out	ADP
framr-1741	165	23	.	.	PUNCT
framr-1741	166	1	also	also	ADV
framr-1741	166	2	,	,	PUNCT
framr-1741	166	3	to	to	PART
framr-1741	166	4	ensure	ensure	VERB
framr-1741	166	5	that	that	SCONJ
framr-1741	166	6	stock	stock	NOUN
framr-1741	166	7	returns	return	NOUN
framr-1741	166	8	are	be	AUX
framr-1741	166	9	stationary	stationary	ADJ
framr-1741	166	10	as	as	ADP
framr-1741	166	11	one	one	NUM
framr-1741	166	12	of	of	ADP
framr-1741	166	13	the	the	DET
framr-1741	166	14	conditions	condition	NOUN
framr-1741	166	15	required	require	VERB
framr-1741	166	16	for	for	ADP
framr-1741	166	17	the	the	DET
framr-1741	166	18	application	application	NOUN
framr-1741	166	19	of	of	ADP
framr-1741	166	20	garch	garch	NOUN
framr-1741	166	21	models	model	NOUN
framr-1741	166	22	,	,	PUNCT
framr-1741	166	23	unit	unit	NOUN
framr-1741	166	24	root	root	NOUN
framr-1741	166	25	tests	test	NOUN
framr-1741	166	26	were	be	AUX
framr-1741	166	27	conducted	conduct	VERB
framr-1741	166	28	using	use	VERB
framr-1741	166	29	the	the	DET
framr-1741	166	30	augmented	augment	VERB
framr-1741	166	31	dickey	dickey	PROPN
framr-1741	166	32	-	-	PUNCT
framr-1741	166	33	fuller	full	ADJ
framr-1741	166	34	test	test	NOUN
framr-1741	166	35	(	(	PUNCT
framr-1741	166	36	adf	adf	NOUN
framr-1741	166	37	)	)	PUNCT
framr-1741	166	38	and	and	CCONJ
framr-1741	166	39	philips	philip	NOUN
framr-1741	166	40	-	-	PUNCT
framr-1741	166	41	perron	perron	PROPN
framr-1741	166	42	(	(	PUNCT
framr-1741	166	43	pp	pp	ADJ
framr-1741	166	44	)	)	PUNCT
framr-1741	166	45	tests	test	NOUN
framr-1741	166	46	(	(	PUNCT
framr-1741	166	47	dickey	dickey	PROPN
framr-1741	166	48	&	&	CCONJ
framr-1741	166	49	fuller	full	ADJ
framr-1741	166	50	,	,	PUNCT
framr-1741	166	51	1979	1979	NUM
framr-1741	166	52	;	;	PUNCT
framr-1741	166	53	phillips	phillips	PROPN
framr-1741	166	54	&	&	CCONJ
framr-1741	166	55	perron	perron	PROPN
framr-1741	166	56	,	,	PUNCT
framr-1741	166	57	1988	1988	NUM
framr-1741	166	58	)	)	PUNCT
framr-1741	166	59	.	.	PUNCT
framr-1741	167	1	3.2	3.2	NUM
framr-1741	167	2	.	.	PUNCT
framr-1741	167	3	description	description	NOUN
framr-1741	167	4	of	of	ADP
framr-1741	167	5	data	datum	NOUN
framr-1741	167	6	the	the	DET
framr-1741	167	7	daily	daily	ADJ
framr-1741	167	8	time	time	NOUN
framr-1741	167	9	series	series	PROPN
framr-1741	167	10	data	datum	NOUN
framr-1741	167	11	of	of	ADP
framr-1741	167	12	s&p	s&p	PROPN
framr-1741	167	13	global	global	ADJ
framr-1741	167	14	(	(	PUNCT
framr-1741	167	15	spg	spg	ADJ
framr-1741	167	16	)	)	PUNCT
framr-1741	167	17	1200	1200	NUM
framr-1741	167	18	index	index	NOUN
framr-1741	167	19	used	use	VERB
framr-1741	167	20	for	for	ADP
framr-1741	167	21	this	this	DET
framr-1741	167	22	study	study	NOUN
framr-1741	167	23	spanned	span	VERB
framr-1741	167	24	from	from	ADP
framr-1741	167	25	the	the	DET
framr-1741	167	26	trading	trading	NOUN
framr-1741	167	27	days	day	NOUN
framr-1741	167	28	between	between	ADP
framr-1741	167	29	1st	1st	PROPN
framr-1741	167	30	sept	sept	PROPN
framr-1741	167	31	.	.	PROPN
framr-1741	167	32	,	,	PUNCT
framr-1741	167	33	2010	2010	NUM
framr-1741	167	34	and	and	CCONJ
framr-1741	167	35	30th	30th	NUM
framr-1741	167	36	sept	sept	PROPN
framr-1741	167	37	.	.	PROPN
framr-1741	167	38	,	,	PUNCT
framr-1741	167	39	2020	2020	NUM
framr-1741	167	40	.	.	PUNCT
framr-1741	168	1	the	the	DET
framr-1741	168	2	spg	spg	PROPN
framr-1741	168	3	daily	daily	PROPN
framr-1741	168	4	data	datum	NOUN
framr-1741	168	5	was	be	AUX
framr-1741	168	6	sourced	source	VERB
framr-1741	168	7	from	from	ADP
framr-1741	168	8	(	(	PUNCT
framr-1741	168	9	https://www.spglobal.com/spdji/en/indices/equity/sp-global-1200/#overview	https://www.spglobal.com/spdji/en/indices/equity/sp-global-1200/#overview	NOUN
framr-1741	168	10	)	)	PUNCT
framr-1741	168	11	.	.	PUNCT
framr-1741	169	1	the	the	DET
framr-1741	169	2	spg	spg	ADJ
framr-1741	169	3	rate	rate	NOUN
framr-1741	169	4	of	of	ADP
framr-1741	169	5	returns	return	NOUN
framr-1741	169	6	series	series	NOUN
framr-1741	169	7	(	(	PUNCT
framr-1741	169	8	r_spg	r_spg	NOUN
framr-1741	169	9	)	)	PUNCT
framr-1741	169	10	within	within	ADP
framr-1741	169	11	the	the	DET
framr-1741	169	12	sampled	sample	VERB
framr-1741	169	13	period	period	NOUN
framr-1741	169	14	was	be	AUX
framr-1741	169	15	calculated	calculate	VERB
framr-1741	169	16	as	as	ADP
framr-1741	169	17	natural	natural	ADJ
framr-1741	169	18	logarithm	logarithm	NOUN
framr-1741	169	19	(	(	PUNCT
framr-1741	169	20	ln	ln	NOUN
framr-1741	169	21	)	)	PUNCT
framr-1741	169	22	of	of	ADP
framr-1741	169	23	the	the	DET
framr-1741	169	24	first	first	ADJ
framr-1741	169	25	difference	difference	NOUN
framr-1741	169	26	associated	associate	VERB
framr-1741	169	27	with	with	ADP
framr-1741	169	28	daily	daily	ADJ
framr-1741	169	29	closing	closing	NOUN
framr-1741	169	30	stock	stock	NOUN
framr-1741	169	31	prices	price	NOUN
framr-1741	169	32	.	.	PUNCT
framr-1741	170	1	the	the	DET
framr-1741	170	2	formula	formula	NOUN
framr-1741	170	3	used	use	VERB
framr-1741	170	4	for	for	ADP
framr-1741	170	5	computing	compute	VERB
framr-1741	170	6	the	the	DET
framr-1741	170	7	r_spg	r_spg	NOUN
framr-1741	170	8	is	be	AUX
framr-1741	170	9	as	as	SCONJ
framr-1741	170	10	shown	show	VERB
framr-1741	170	11	in	in	ADP
framr-1741	170	12	equation	equation	NOUN
framr-1741	170	13	8	8	NUM
framr-1741	170	14	:	:	PUNCT
framr-1741	170	15	where	where	SCONJ
framr-1741	170	16	,	,	PUNCT
framr-1741	170	17	represent	represent	VERB
framr-1741	170	18	the	the	DET
framr-1741	170	19	logarithmic	logarithmic	PROPN
framr-1741	170	20	spg	spg	PROPN
framr-1741	170	21	daily	daily	ADJ
framr-1741	170	22	returns	return	NOUN
framr-1741	170	23	for	for	ADP
framr-1741	170	24	time	time	NOUN
framr-1741	170	25	t.	t.	PROPN
framr-1741	170	26	denote	denote	VERB
framr-1741	170	27	the	the	DET
framr-1741	170	28	closing	closing	NOUN
framr-1741	170	29	price	price	NOUN
framr-1741	170	30	at	at	ADP
framr-1741	170	31	time	time	NOUN
framr-1741	170	32	t.	t.	PROPN
framr-1741	170	33	shows	show	VERB
framr-1741	170	34	the	the	DET
framr-1741	170	35	corresponding	correspond	VERB
framr-1741	170	36	price	price	NOUN
framr-1741	170	37	in	in	ADP
framr-1741	170	38	the	the	DET
framr-1741	170	39	period	period	NOUN
framr-1741	170	40	at	at	ADP
framr-1741	170	41	time	time	NOUN
framr-1741	170	42	.	.	PUNCT
framr-1741	171	1	https://www.spglobal.com/spdji/en/indices/equity/sp-global-1200/#overview	https://www.spglobal.com/spdji/en/indices/equity/sp-global-1200/#overview	VERB
framr-1741	171	2	financial	financial	ADJ
framr-1741	171	3	risk	risk	NOUN
framr-1741	171	4	and	and	CCONJ
framr-1741	171	5	management	management	NOUN
framr-1741	171	6	reviews	review	NOUN
framr-1741	171	7	,	,	PUNCT
framr-1741	171	8	2021	2021	NUM
framr-1741	171	9	,	,	PUNCT
framr-1741	171	10	7(1	7(1	NUM
framr-1741	171	11	):	):	PUNCT
framr-1741	171	12	1	1	NUM
framr-1741	171	13	-	-	SYM
framr-1741	171	14	15	15	NUM
framr-1741	171	15	8	8	NUM
framr-1741	171	16	©	©	PROPN
framr-1741	171	17	2021	2021	NUM
framr-1741	171	18	conscientia	conscientia	PROPN
framr-1741	171	19	beam	beam	PROPN
framr-1741	171	20	.	.	PUNCT
framr-1741	172	1	all	all	DET
framr-1741	172	2	rights	right	NOUN
framr-1741	172	3	reserved	reserve	VERB
framr-1741	172	4	.	.	PUNCT
framr-1741	173	1	table-1	table-1	NUM
framr-1741	173	2	.	.	PUNCT
framr-1741	174	1	components	component	NOUN
framr-1741	174	2	of	of	ADP
framr-1741	174	3	s&p	s&p	PROPN
framr-1741	174	4	global	global	ADJ
framr-1741	174	5	1200	1200	NUM
framr-1741	174	6	index	index	NOUN
framr-1741	174	7	.	.	PUNCT
framr-1741	175	1	country	country	NOUN
framr-1741	175	2	/	/	SYM
framr-1741	175	3	region	region	NOUN
framr-1741	175	4	index	index	NOUN
framr-1741	175	5	united	united	PROPN
framr-1741	175	6	states	states	PROPN
framr-1741	175	7	s&p	s&p	PROPN
framr-1741	175	8	500	500	NUM
framr-1741	175	9	hong	hong	PROPN
framr-1741	175	10	kong	kong	PROPN
framr-1741	175	11	,	,	PUNCT
framr-1741	175	12	singapore	singapore	PROPN
framr-1741	175	13	,	,	PUNCT
framr-1741	175	14	south	south	PROPN
framr-1741	175	15	korea	korea	PROPN
framr-1741	175	16	and	and	CCONJ
framr-1741	175	17	taiwan	taiwan	PROPN
framr-1741	175	18	s&p	s&p	PROPN
framr-1741	175	19	asia	asia	PROPN
framr-1741	175	20	50	50	NUM
framr-1741	175	21	australia	australia	NOUN
framr-1741	175	22	s&p	s&p	PROPN
framr-1741	175	23	/	/	SYM
framr-1741	175	24	asx	asx	NOUN
framr-1741	175	25	50	50	NUM
framr-1741	175	26	eurozone	eurozone	NOUN
framr-1741	175	27	,	,	PUNCT
framr-1741	175	28	denmark	denmark	NOUN
framr-1741	175	29	,	,	PUNCT
framr-1741	175	30	norway	norway	PROPN
framr-1741	175	31	,	,	PUNCT
framr-1741	175	32	sweden	sweden	PROPN
framr-1741	175	33	,	,	PUNCT
framr-1741	175	34	switzerland	switzerland	PROPN
framr-1741	175	35	and	and	CCONJ
framr-1741	175	36	uk	uk	PROPN
framr-1741	175	37	s&p	s&p	PROPN
framr-1741	175	38	europe	europe	PROPN
framr-1741	175	39	350	350	NUM
framr-1741	175	40	brazil	brazil	PROPN
framr-1741	175	41	,	,	PUNCT
framr-1741	175	42	chile	chile	PROPN
framr-1741	175	43	,	,	PUNCT
framr-1741	175	44	colombia	colombia	PROPN
framr-1741	175	45	,	,	PUNCT
framr-1741	175	46	mexico	mexico	PROPN
framr-1741	175	47	and	and	CCONJ
framr-1741	175	48	peru	peru	PROPN
framr-1741	175	49	s&p	s&p	PROPN
framr-1741	175	50	latin	latin	PROPN
framr-1741	175	51	america	america	PROPN
framr-1741	175	52	40	40	NUM
framr-1741	175	53	japan	japan	PROPN
framr-1741	175	54	s&p	s&p	PROPN
framr-1741	175	55	/	/	SYM
framr-1741	175	56	topix	topix	PROPN
framr-1741	175	57	150	150	NUM
framr-1741	175	58	canada	canada	PROPN
framr-1741	175	59	s&p	s&p	PROPN
framr-1741	175	60	/	/	SYM
framr-1741	175	61	tsx	tsx	PROPN
framr-1741	175	62	60	60	NUM
framr-1741	175	63	as	as	SCONJ
framr-1741	175	64	detailed	detailed	ADJ
framr-1741	175	65	in	in	ADP
framr-1741	175	66	table	table	NOUN
framr-1741	175	67	1	1	NUM
framr-1741	175	68	,	,	PUNCT
framr-1741	175	69	the	the	DET
framr-1741	175	70	s&p	s&p	PROPN
framr-1741	175	71	global	global	ADJ
framr-1741	175	72	(	(	PUNCT
framr-1741	175	73	spg	spg	ADJ
framr-1741	175	74	)	)	PUNCT
framr-1741	175	75	1200	1200	NUM
framr-1741	175	76	represents	represent	VERB
framr-1741	175	77	a	a	DET
framr-1741	175	78	weighted	weight	VERB
framr-1741	175	79	stock	stock	NOUN
framr-1741	175	80	index	index	NOUN
framr-1741	175	81	of	of	ADP
framr-1741	175	82	global	global	ADJ
framr-1741	175	83	equities	equity	NOUN
framr-1741	175	84	covering	cover	VERB
framr-1741	175	85	thirty	thirty	NUM
framr-1741	175	86	-	-	PUNCT
framr-1741	175	87	one	one	NUM
framr-1741	175	88	(	(	PUNCT
framr-1741	175	89	31	31	NUM
framr-1741	175	90	)	)	PUNCT
framr-1741	175	91	countries	country	NOUN
framr-1741	175	92	,	,	PUNCT
framr-1741	175	93	seven	seven	NUM
framr-1741	175	94	(	(	PUNCT
framr-1741	175	95	7	7	NUM
framr-1741	175	96	)	)	PUNCT
framr-1741	175	97	regional	regional	ADJ
framr-1741	175	98	stock	stock	NOUN
framr-1741	175	99	markets	market	NOUN
framr-1741	175	100	and	and	CCONJ
framr-1741	175	101	about	about	ADV
framr-1741	175	102	70	70	NUM
framr-1741	175	103	%	%	NOUN
framr-1741	175	104	of	of	ADP
framr-1741	175	105	global	global	ADJ
framr-1741	175	106	market	market	NOUN
framr-1741	175	107	capitalization	capitalization	NOUN
framr-1741	175	108	,	,	PUNCT
framr-1741	175	109	including	include	VERB
framr-1741	175	110	all	all	PRON
framr-1741	175	111	ten	ten	NUM
framr-1741	175	112	(	(	PUNCT
framr-1741	175	113	10	10	NUM
framr-1741	175	114	)	)	PUNCT
framr-1741	175	115	global	global	ADJ
framr-1741	175	116	industry	industry	NOUN
framr-1741	175	117	classification	classification	NOUN
framr-1741	175	118	standard	standard	NOUN
framr-1741	175	119	(	(	PUNCT
framr-1741	175	120	gics	gic	NOUN
framr-1741	175	121	)	)	PUNCT
framr-1741	175	122	sectors	sector	NOUN
framr-1741	175	123	.	.	PUNCT
framr-1741	176	1	4	4	X
framr-1741	176	2	.	.	NOUN
framr-1741	176	3	results	result	NOUN
framr-1741	176	4	and	and	CCONJ
framr-1741	176	5	discussions	discussion	NOUN
framr-1741	176	6	the	the	DET
framr-1741	176	7	logarithmic	logarithmic	NOUN
framr-1741	176	8	of	of	ADP
framr-1741	176	9	the	the	DET
framr-1741	176	10	s&p	s&p	PROPN
framr-1741	176	11	global	global	ADJ
framr-1741	176	12	1200	1200	NUM
framr-1741	176	13	index	index	NOUN
framr-1741	176	14	from	from	ADP
framr-1741	176	15	1st	1st	PROPN
framr-1741	176	16	sept	sept	PROPN
framr-1741	176	17	.	.	PROPN
framr-1741	176	18	,	,	PUNCT
framr-1741	176	19	2010	2010	NUM
framr-1741	176	20	to	to	ADP
framr-1741	176	21	30th	30th	NUM
framr-1741	176	22	sept	sept	PROPN
framr-1741	176	23	.	.	PROPN
framr-1741	176	24	,	,	PUNCT
framr-1741	176	25	2020	2020	NUM
framr-1741	176	26	have	have	AUX
framr-1741	176	27	been	be	AUX
framr-1741	176	28	plotted	plot	VERB
framr-1741	176	29	in	in	ADP
framr-1741	176	30	figure	figure	NOUN
framr-1741	176	31	1	1	NUM
framr-1741	176	32	:	:	PUNCT
framr-1741	176	33	figure-1	figure-1	PROPN
framr-1741	176	34	.	.	NOUN
framr-1741	176	35	trend	trend	NOUN
framr-1741	176	36	of	of	ADP
framr-1741	176	37	s&p	s&p	PROPN
framr-1741	176	38	global	global	ADJ
framr-1741	176	39	1200	1200	NUM
framr-1741	176	40	index	index	NOUN
framr-1741	176	41	.	.	PUNCT
framr-1741	177	1	having	having	AUX
framr-1741	177	2	computed	compute	VERB
framr-1741	177	3	the	the	DET
framr-1741	177	4	daily	daily	ADJ
framr-1741	177	5	spg	spg	ADJ
framr-1741	177	6	returns	return	NOUN
framr-1741	177	7	using	use	VERB
framr-1741	177	8	equation	equation	NOUN
framr-1741	177	9	8	8	NUM
framr-1741	177	10	,	,	PUNCT
framr-1741	177	11	figure	figure	NOUN
framr-1741	177	12	2	2	NUM
framr-1741	177	13	,	,	PUNCT
framr-1741	177	14	shows	show	VERB
framr-1741	177	15	evidence	evidence	NOUN
framr-1741	177	16	of	of	ADP
framr-1741	177	17	volatility	volatility	NOUN
framr-1741	177	18	clustering	cluster	VERB
framr-1741	177	19	for	for	ADP
framr-1741	177	20	r	r	NOUN
framr-1741	177	21	-	-	PUNCT
framr-1741	177	22	spg	spg	NOUN
framr-1741	177	23	over	over	ADP
framr-1741	177	24	the	the	DET
framr-1741	177	25	sampled	sample	VERB
framr-1741	177	26	period	period	NOUN
framr-1741	177	27	(	(	PUNCT
framr-1741	177	28	1st	1st	PROPN
framr-1741	177	29	sept	sept	PROPN
framr-1741	177	30	.	.	PROPN
framr-1741	177	31	,	,	PUNCT
framr-1741	177	32	2010	2010	NUM
framr-1741	177	33	to	to	ADP
framr-1741	177	34	30th	30th	NUM
framr-1741	177	35	sept	sept	PROPN
framr-1741	177	36	.	.	PROPN
framr-1741	177	37	,	,	PUNCT
framr-1741	177	38	2020	2020	NUM
framr-1741	177	39	)	)	PUNCT
framr-1741	177	40	which	which	PRON
framr-1741	177	41	is	be	AUX
framr-1741	177	42	one	one	NUM
framr-1741	177	43	of	of	ADP
framr-1741	177	44	the	the	DET
framr-1741	177	45	stylized	stylize	VERB
framr-1741	177	46	facts	fact	NOUN
framr-1741	177	47	of	of	ADP
framr-1741	177	48	financial	financial	ADJ
framr-1741	177	49	time	time	NOUN
framr-1741	177	50	series	series	NOUN
framr-1741	177	51	.	.	PUNCT
framr-1741	178	1	there	there	PRON
framr-1741	178	2	was	be	VERB
framr-1741	178	3	higher	high	ADJ
framr-1741	178	4	volatility	volatility	NOUN
framr-1741	178	5	clustering	cluster	VERB
framr-1741	178	6	during	during	ADP
framr-1741	178	7	the	the	DET
framr-1741	178	8	trading	trading	NOUN
framr-1741	178	9	days	day	NOUN
framr-1741	178	10	in	in	ADP
framr-1741	178	11	2011	2011	NUM
framr-1741	178	12	and	and	CCONJ
framr-1741	178	13	2020	2020	NUM
framr-1741	178	14	due	due	ADP
framr-1741	178	15	to	to	ADP
framr-1741	178	16	the	the	DET
framr-1741	178	17	european	european	ADJ
framr-1741	178	18	and	and	CCONJ
framr-1741	178	19	us	we	PRON
framr-1741	178	20	debt	debt	NOUN
framr-1741	178	21	crisis	crisis	NOUN
framr-1741	178	22	as	as	ADV
framr-1741	178	23	well	well	ADV
framr-1741	178	24	as	as	ADP
framr-1741	178	25	the	the	DET
framr-1741	178	26	recent	recent	ADJ
framr-1741	178	27	covid-19	covid-19	PROPN
framr-1741	178	28	pandemic	pandemic	NOUN
framr-1741	178	29	.	.	PUNCT
framr-1741	179	1	on	on	ADP
framr-1741	179	2	the	the	DET
framr-1741	179	3	other	other	ADJ
framr-1741	179	4	hand	hand	NOUN
framr-1741	179	5	,	,	PUNCT
framr-1741	179	6	the	the	DET
framr-1741	179	7	histogram	histogram	NOUN
framr-1741	179	8	captured	capture	VERB
framr-1741	179	9	by	by	ADP
framr-1741	179	10	figure	figure	NOUN
framr-1741	179	11	3	3	NUM
framr-1741	179	12	shows	show	VERB
framr-1741	179	13	that	that	SCONJ
framr-1741	179	14	the	the	DET
framr-1741	179	15	return	return	NOUN
framr-1741	179	16	series	series	NOUN
framr-1741	179	17	are	be	AUX
framr-1741	179	18	not	not	PART
framr-1741	179	19	normally	normally	ADV
framr-1741	179	20	distributed	distribute	VERB
framr-1741	179	21	based	base	VERB
framr-1741	179	22	on	on	ADP
framr-1741	179	23	kurtosis	kurtosis	NOUN
framr-1741	179	24	(	(	PUNCT
framr-1741	179	25	19.35118	19.35118	NUM
framr-1741	179	26	>	>	SYM
framr-1741	179	27	3	3	NUM
framr-1741	179	28	)	)	PUNCT
framr-1741	179	29	and	and	CCONJ
framr-1741	179	30	p	p	NOUN
framr-1741	179	31	-	-	PUNCT
framr-1741	179	32	value	value	NOUN
framr-1741	179	33	(	(	PUNCT
framr-1741	179	34	0.0000	0.0000	NUM
framr-1741	179	35	)	)	PUNCT
framr-1741	179	36	of	of	ADP
framr-1741	179	37	the	the	DET
framr-1741	179	38	jarque	jarque	NOUN
framr-1741	179	39	-	-	PUNCT
framr-1741	179	40	bera	bera	NOUN
framr-1741	179	41	test	test	NOUN
framr-1741	179	42	which	which	PRON
framr-1741	179	43	rejects	reject	VERB
framr-1741	179	44	the	the	DET
framr-1741	179	45	normality	normality	NOUN
framr-1741	179	46	distribution	distribution	NOUN
framr-1741	179	47	of	of	ADP
framr-1741	179	48	the	the	DET
framr-1741	179	49	r_spg	r_spg	ADJ
framr-1741	179	50	series	series	NOUN
framr-1741	179	51	.	.	PUNCT
framr-1741	180	1	the	the	DET
framr-1741	180	2	non	non	ADJ
framr-1741	180	3	-	-	ADJ
framr-1741	180	4	normal	normal	ADJ
framr-1741	180	5	distribution	distribution	NOUN
framr-1741	180	6	of	of	ADP
framr-1741	180	7	the	the	DET
framr-1741	180	8	r_spg	r_spg	NOUN
framr-1741	180	9	confirmed	confirm	VERB
framr-1741	180	10	the	the	DET
framr-1741	180	11	stylized	stylize	VERB
framr-1741	180	12	fact	fact	NOUN
framr-1741	180	13	that	that	SCONJ
framr-1741	180	14	distribution	distribution	NOUN
framr-1741	180	15	of	of	ADP
framr-1741	180	16	financial	financial	ADJ
framr-1741	180	17	returns	return	NOUN
framr-1741	180	18	series	series	NOUN
framr-1741	180	19	is	be	AUX
framr-1741	180	20	largely	largely	ADV
framr-1741	180	21	leptokurtic	leptokurtic	ADJ
framr-1741	180	22	.	.	PUNCT
framr-1741	181	1	-1.5	-1.5	X
framr-1741	181	2	-1.0	-1.0	PROPN
framr-1741	181	3	-0.5	-0.5	PROPN
framr-1741	181	4	0.0	0.0	NUM
framr-1741	181	5	0.5	0.5	NUM
framr-1741	181	6	1.0	1.0	NUM
framr-1741	181	7	1.5	1.5	NUM
framr-1741	181	8	2010	2010	NUM
framr-1741	181	9	2011	2011	NUM
framr-1741	181	10	2012	2012	NUM
framr-1741	181	11	2013	2013	NUM
framr-1741	181	12	2014	2014	NUM
framr-1741	181	13	2015	2015	NUM
framr-1741	181	14	2016	2016	NUM
framr-1741	181	15	2017	2017	NUM
framr-1741	181	16	2018	2018	NUM
framr-1741	181	17	2019	2019	NUM
framr-1741	181	18	2020	2020	NUM
framr-1741	181	19	r_spg	r_spg	ADP
framr-1741	181	20	figure-2	figure-2	PROPN
framr-1741	181	21	.	.	PUNCT
framr-1741	181	22	time	time	NOUN
framr-1741	181	23	plot	plot	NOUN
framr-1741	181	24	of	of	ADP
framr-1741	181	25	daily	daily	ADJ
framr-1741	181	26	r_spg	r_spg	X
framr-1741	181	27	.	.	PUNCT
framr-1741	181	28	financial	financial	ADJ
framr-1741	181	29	risk	risk	NOUN
framr-1741	181	30	and	and	CCONJ
framr-1741	181	31	management	management	NOUN
framr-1741	181	32	reviews	review	NOUN
framr-1741	181	33	,	,	PUNCT
framr-1741	181	34	2021	2021	NUM
framr-1741	181	35	,	,	PUNCT
framr-1741	181	36	7(1	7(1	NUM
framr-1741	181	37	):	):	PUNCT
framr-1741	181	38	1	1	NUM
framr-1741	181	39	-	-	SYM
framr-1741	181	40	15	15	NUM
framr-1741	181	41	9	9	NUM
framr-1741	181	42	©	©	PROPN
framr-1741	181	43	2021	2021	NUM
framr-1741	181	44	conscientia	conscientia	PROPN
framr-1741	181	45	beam	beam	PROPN
framr-1741	181	46	.	.	PUNCT
framr-1741	182	1	all	all	DET
framr-1741	182	2	rights	right	NOUN
framr-1741	182	3	reserved	reserve	VERB
framr-1741	182	4	.	.	PUNCT
framr-1741	183	1	0	0	NUM
framr-1741	184	1	200	200	NUM
framr-1741	184	2	400	400	NUM
framr-1741	184	3	600	600	NUM
framr-1741	184	4	800	800	NUM
framr-1741	184	5	1,000	1,000	NUM
framr-1741	184	6	1,200	1,200	NUM
framr-1741	184	7	-1.0	-1.0	PROPN
framr-1741	184	8	-0.5	-0.5	PROPN
framr-1741	184	9	0.0	0.0	NUM
framr-1741	184	10	0.5	0.5	NUM
framr-1741	184	11	1.0	1.0	NUM
framr-1741	184	12	series	series	NOUN
framr-1741	184	13	:	:	PUNCT
framr-1741	184	14	r_spg	r_spg	ADP
framr-1741	184	15	sample	sample	NOUN
framr-1741	184	16	9/01/2010	9/01/2010	NUM
framr-1741	184	17	9/30/2020	9/30/2020	NUM
framr-1741	184	18	observations	observation	NOUN
framr-1741	184	19	2624	2624	NUM
framr-1741	184	20	mean	mean	NOUN
framr-1741	184	21	0.003703	0.003703	NUM
framr-1741	184	22	median	median	NOUN
framr-1741	184	23	0.007905	0.007905	NUM
framr-1741	184	24	maximum	maximum	NOUN
framr-1741	184	25	1.105218	1.105218	NUM
framr-1741	184	26	minimum	minimum	ADJ
framr-1741	184	27	-1.313233	-1.313233	NOUN
framr-1741	184	28	std	std	PROPN
framr-1741	184	29	.	.	PUNCT
framr-1741	185	1	dev	dev	PROPN
framr-1741	185	2	.	.	PROPN
framr-1741	186	1	0.125186	0.125186	NUM
framr-1741	186	2	skewness	skewness	NOUN
framr-1741	186	3	-1.120008	-1.120008	NOUN
framr-1741	186	4	kurtosis	kurtosis	VERB
framr-1741	186	5	19.35118	19.35118	NUM
framr-1741	186	6	jarque	jarque	NOUN
framr-1741	186	7	-	-	PUNCT
framr-1741	186	8	bera	bera	NOUN
framr-1741	186	9	29780.08	29780.08	NUM
framr-1741	186	10	probability	probability	NOUN
framr-1741	186	11	0.000000	0.000000	NUM
framr-1741	186	12	figure-3	figure-3	NUM
framr-1741	186	13	.	.	PUNCT
framr-1741	187	1	r_spg	r_spg	ADP
framr-1741	187	2	normality	normality	NOUN
framr-1741	187	3	testing	testing	NOUN
framr-1741	187	4	.	.	PUNCT
framr-1741	188	1	next	next	ADV
framr-1741	188	2	,	,	PUNCT
framr-1741	188	3	the	the	DET
framr-1741	188	4	study	study	NOUN
framr-1741	188	5	proceeded	proceed	VERB
framr-1741	188	6	with	with	ADP
framr-1741	188	7	the	the	DET
framr-1741	188	8	augmented	augment	VERB
framr-1741	188	9	dickey	dickey	PROPN
framr-1741	188	10	fuller	full	ADJ
framr-1741	188	11	(	(	PUNCT
framr-1741	188	12	adf	adf	NOUN
framr-1741	188	13	)	)	PUNCT
framr-1741	188	14	and	and	CCONJ
framr-1741	188	15	philip	philip	PROPN
framr-1741	188	16	-	-	PUNCT
framr-1741	188	17	perron	perron	PROPN
framr-1741	188	18	(	(	PUNCT
framr-1741	188	19	pp	pp	ADJ
framr-1741	188	20	)	)	PUNCT
framr-1741	188	21	unit	unit	NOUN
framr-1741	188	22	root	root	NOUN
framr-1741	188	23	tests	test	NOUN
framr-1741	188	24	in	in	ADP
framr-1741	188	25	order	order	NOUN
framr-1741	188	26	to	to	PART
framr-1741	188	27	investigate	investigate	VERB
framr-1741	188	28	the	the	DET
framr-1741	188	29	level	level	NOUN
framr-1741	188	30	of	of	ADP
framr-1741	188	31	stationarity	stationarity	NOUN
framr-1741	188	32	of	of	ADP
framr-1741	188	33	the	the	DET
framr-1741	188	34	r_spg	r_spg	ADJ
framr-1741	188	35	series	series	NOUN
framr-1741	188	36	.	.	PUNCT
framr-1741	189	1	on	on	ADP
framr-1741	189	2	the	the	DET
framr-1741	189	3	other	other	ADJ
framr-1741	189	4	hand	hand	NOUN
framr-1741	189	5	,	,	PUNCT
framr-1741	189	6	the	the	DET
framr-1741	189	7	presence	presence	NOUN
framr-1741	189	8	of	of	ADP
framr-1741	189	9	arch	arch	ADJ
framr-1741	189	10	effect	effect	NOUN
framr-1741	189	11	in	in	ADP
framr-1741	189	12	the	the	DET
framr-1741	189	13	return	return	NOUN
framr-1741	189	14	series	series	NOUN
framr-1741	189	15	was	be	AUX
framr-1741	189	16	confirmed	confirm	VERB
framr-1741	189	17	by	by	ADP
framr-1741	189	18	the	the	DET
framr-1741	189	19	arch	arch	ADJ
framr-1741	189	20	-	-	PUNCT
framr-1741	189	21	lm	lm	NUM
framr-1741	189	22	test	test	NOUN
framr-1741	189	23	.	.	PUNCT
framr-1741	190	1	details	detail	NOUN
framr-1741	190	2	of	of	ADP
framr-1741	190	3	the	the	DET
framr-1741	190	4	unit	unit	NOUN
framr-1741	190	5	root	root	NOUN
framr-1741	190	6	and	and	CCONJ
framr-1741	190	7	the	the	DET
framr-1741	190	8	arch	arch	ADJ
framr-1741	190	9	-	-	PUNCT
framr-1741	190	10	lm	lm	NOUN
framr-1741	190	11	test	test	NOUN
framr-1741	190	12	results	result	NOUN
framr-1741	190	13	.	.	PUNCT
framr-1741	191	1	as	as	SCONJ
framr-1741	191	2	presented	present	VERB
framr-1741	191	3	in	in	ADP
framr-1741	191	4	table	table	NOUN
framr-1741	191	5	2	2	NUM
framr-1741	191	6	below	below	ADV
framr-1741	191	7	,	,	PUNCT
framr-1741	191	8	the	the	DET
framr-1741	191	9	r_spg	r_spg	ADJ
framr-1741	191	10	series	series	NOUN
framr-1741	191	11	has	have	VERB
framr-1741	191	12	no	no	DET
framr-1741	191	13	unit	unit	NOUN
framr-1741	191	14	root	root	NOUN
framr-1741	191	15	from	from	ADP
framr-1741	191	16	the	the	DET
framr-1741	191	17	adf	adf	NOUN
framr-1741	191	18	and	and	CCONJ
framr-1741	191	19	pp	pp	ADP
framr-1741	191	20	test	test	NOUN
framr-1741	191	21	approaches	approach	NOUN
framr-1741	191	22	.	.	PUNCT
framr-1741	192	1	the	the	DET
framr-1741	192	2	probability	probability	NOUN
framr-1741	192	3	values	value	NOUN
framr-1741	192	4	of	of	ADP
framr-1741	192	5	the	the	DET
framr-1741	192	6	adf	adf	NOUN
framr-1741	192	7	and	and	CCONJ
framr-1741	192	8	pp	pp	PROPN
framr-1741	192	9	t	t	PROPN
framr-1741	192	10	-	-	PUNCT
framr-1741	192	11	statistics	statistic	NOUN
framr-1741	192	12	are	be	AUX
framr-1741	192	13	less	less	ADJ
framr-1741	192	14	than	than	ADP
framr-1741	192	15	0.05	0.05	NUM
framr-1741	192	16	which	which	PRON
framr-1741	192	17	led	lead	VERB
framr-1741	192	18	to	to	ADP
framr-1741	192	19	the	the	DET
framr-1741	192	20	conclusion	conclusion	NOUN
framr-1741	192	21	that	that	SCONJ
framr-1741	192	22	the	the	DET
framr-1741	192	23	r_spg	r_spg	ADJ
framr-1741	192	24	series	series	NOUN
framr-1741	192	25	for	for	ADP
framr-1741	192	26	the	the	DET
framr-1741	192	27	sampled	sample	VERB
framr-1741	192	28	period	period	NOUN
framr-1741	192	29	is	be	AUX
framr-1741	192	30	stationary	stationary	ADJ
framr-1741	192	31	,	,	PUNCT
framr-1741	192	32	hence	hence	ADV
framr-1741	192	33	both	both	CCONJ
framr-1741	192	34	the	the	DET
framr-1741	192	35	adf	adf	NOUN
framr-1741	192	36	and	and	CCONJ
framr-1741	192	37	pp	pp	PROPN
framr-1741	192	38	tests	test	NOUN
framr-1741	192	39	reject	reject	VERB
framr-1741	192	40	the	the	DET
framr-1741	192	41	hypothesis	hypothesis	NOUN
framr-1741	192	42	of	of	ADP
framr-1741	192	43	nonstationarity	nonstationarity	NOUN
framr-1741	192	44	of	of	ADP
framr-1741	192	45	the	the	DET
framr-1741	192	46	r_spg	r_spg	ADJ
framr-1741	192	47	series	series	NOUN
framr-1741	192	48	at	at	ADP
framr-1741	192	49	all	all	DET
framr-1741	192	50	levels	level	NOUN
framr-1741	192	51	of	of	ADP
framr-1741	192	52	significance	significance	NOUN
framr-1741	192	53	.	.	PUNCT
framr-1741	193	1	on	on	ADP
framr-1741	193	2	the	the	DET
framr-1741	193	3	other	other	ADJ
framr-1741	193	4	hand	hand	NOUN
framr-1741	193	5	,	,	PUNCT
framr-1741	193	6	the	the	DET
framr-1741	193	7	arch	arch	ADJ
framr-1741	193	8	-	-	PUNCT
framr-1741	193	9	lm	lm	NOUN
framr-1741	193	10	test	test	NOUN
framr-1741	193	11	which	which	PRON
framr-1741	193	12	was	be	AUX
framr-1741	193	13	used	use	VERB
framr-1741	193	14	to	to	PART
framr-1741	193	15	investigate	investigate	VERB
framr-1741	193	16	the	the	DET
framr-1741	193	17	presence	presence	NOUN
framr-1741	193	18	of	of	ADP
framr-1741	193	19	arch	arch	ADJ
framr-1741	193	20	effect	effect	NOUN
framr-1741	193	21	on	on	ADP
framr-1741	193	22	the	the	DET
framr-1741	193	23	returns	return	NOUN
framr-1741	193	24	series	series	NOUN
framr-1741	193	25	is	be	AUX
framr-1741	193	26	highly	highly	ADV
framr-1741	193	27	significant	significant	ADJ
framr-1741	193	28	since	since	SCONJ
framr-1741	193	29	the	the	DET
framr-1741	193	30	p	p	NOUN
framr-1741	193	31	-	-	PUNCT
framr-1741	193	32	value	value	NOUN
framr-1741	193	33	(	(	PUNCT
framr-1741	193	34	p	p	X
framr-1741	193	35	<	<	X
framr-1741	193	36	0.05	0.05	NUM
framr-1741	193	37	)	)	PUNCT
framr-1741	193	38	,	,	PUNCT
framr-1741	193	39	leading	lead	VERB
framr-1741	193	40	to	to	ADP
framr-1741	193	41	the	the	DET
framr-1741	193	42	rejection	rejection	NOUN
framr-1741	193	43	of	of	ADP
framr-1741	193	44	the	the	DET
framr-1741	193	45	null	null	ADJ
framr-1741	193	46	hypothesis	hypothesis	NOUN
framr-1741	193	47	of	of	ADP
framr-1741	193	48	“	"	PUNCT
framr-1741	193	49	no	no	DET
framr-1741	193	50	arch	arch	ADJ
framr-1741	193	51	effect	effect	NOUN
framr-1741	193	52	”	"	PUNCT
framr-1741	193	53	in	in	ADP
framr-1741	193	54	the	the	DET
framr-1741	193	55	residuals	residual	NOUN
framr-1741	193	56	.	.	PUNCT
framr-1741	194	1	based	base	VERB
framr-1741	194	2	on	on	ADP
framr-1741	194	3	the	the	DET
framr-1741	194	4	outcome	outcome	NOUN
framr-1741	194	5	of	of	ADP
framr-1741	194	6	these	these	DET
framr-1741	194	7	preliminary	preliminary	ADJ
framr-1741	194	8	tests	test	NOUN
framr-1741	194	9	,	,	PUNCT
framr-1741	194	10	the	the	DET
framr-1741	194	11	appropriateness	appropriateness	NOUN
framr-1741	194	12	of	of	ADP
framr-1741	194	13	the	the	DET
framr-1741	194	14	garch	garch	NOUN
framr-1741	194	15	family	family	NOUN
framr-1741	194	16	models	model	NOUN
framr-1741	194	17	was	be	AUX
framr-1741	194	18	justified	justify	VERB
framr-1741	194	19	.	.	PUNCT
framr-1741	195	1	table-2	table-2	NUM
framr-1741	195	2	.	.	PROPN
framr-1741	195	3	unit	unit	NOUN
framr-1741	195	4	root	root	PROPN
framr-1741	195	5	test	test	NOUN
framr-1741	195	6	results	result	NOUN
framr-1741	195	7	.	.	PUNCT
framr-1741	196	1	adf	adf	NOUN
framr-1741	196	2	@	@	ADP
framr-1741	196	3	level	level	NOUN
framr-1741	196	4	pp	pp	ADP
framr-1741	196	5	@	@	ADP
framr-1741	196	6	level	level	PROPN
framr-1741	196	7	t	t	PROPN
framr-1741	196	8	-	-	PUNCT
framr-1741	196	9	statistic	statistic	NOUN
framr-1741	196	10	prob	prob	NOUN
framr-1741	196	11	.	.	PUNCT
framr-1741	196	12	*	*	PUNCT
framr-1741	196	13	t	t	NOUN
framr-1741	196	14	-	-	PUNCT
framr-1741	196	15	statistic	statistic	NOUN
framr-1741	196	16	prob	prob	NOUN
framr-1741	196	17	.	.	PUNCT
framr-1741	196	18	*	*	PUNCT
framr-1741	196	19	test	test	NOUN
framr-1741	196	20	statistic	statistic	NOUN
framr-1741	196	21	-19.00810	-19.00810	NUM
framr-1741	196	22	0.0000	0.0000	NUM
framr-1741	196	23	-50.50163	-50.50163	NUM
framr-1741	196	24	0.0001	0.0001	NUM
framr-1741	196	25	test	test	NOUN
framr-1741	196	26	critical	critical	ADJ
framr-1741	196	27	values	value	NOUN
framr-1741	196	28	:	:	PUNCT
framr-1741	196	29	1	1	NUM
framr-1741	196	30	%	%	NOUN
framr-1741	196	31	level	level	NOUN
framr-1741	196	32	-3.432657	-3.432657	NOUN
framr-1741	196	33	-3.432657	-3.432657	PUNCT
framr-1741	197	1	5	5	NUM
framr-1741	197	2	%	%	NOUN
framr-1741	197	3	level	level	NOUN
framr-1741	197	4	-2.862445	-2.862445	NOUN
framr-1741	197	5	-2.862445	-2.862445	NOUN
framr-1741	197	6	10	10	NUM
framr-1741	197	7	%	%	NOUN
framr-1741	197	8	level	level	NOUN
framr-1741	197	9	-2.567297	-2.567297	PROPN
framr-1741	197	10	-2.567297	-2.567297	PROPN
framr-1741	197	11	arch	arch	PROPN
framr-1741	197	12	-	-	PUNCT
framr-1741	197	13	lm	lm	PROPN
framr-1741	197	14	test	test	NOUN
framr-1741	197	15	statistics	statistic	NOUN
framr-1741	197	16	:	:	PUNCT
framr-1741	197	17	f	f	X
framr-1741	197	18	-	-	PUNCT
framr-1741	197	19	statistic	statistic	ADJ
framr-1741	197	20	290.1747	290.1747	NUM
framr-1741	197	21	prob	prob	NOUN
framr-1741	197	22	.	.	PUNCT
framr-1741	198	1	f(1,2620	f(1,2620	NOUN
framr-1741	198	2	)	)	PUNCT
framr-1741	198	3	0.0000	0.0000	NUM
framr-1741	198	4	obs*r	obs*r	VERB
framr-1741	198	5	-	-	PUNCT
framr-1741	198	6	squared	square	VERB
framr-1741	198	7	261.4407	261.4407	NUM
framr-1741	198	8	prob	prob	NOUN
framr-1741	198	9	.	.	PUNCT
framr-1741	199	1	chi	chi	PROPN
framr-1741	199	2	-	-	PUNCT
framr-1741	199	3	square(1	square(1	PROPN
framr-1741	199	4	)	)	PUNCT
framr-1741	199	5	0.0000	0.0000	NUM
framr-1741	199	6	4.1	4.1	NUM
framr-1741	199	7	.	.	PUNCT
framr-1741	200	1	estimation	estimation	NOUN
framr-1741	200	2	of	of	ADP
framr-1741	200	3	garch	garch	NOUN
framr-1741	200	4	models	model	NOUN
framr-1741	200	5	the	the	DET
framr-1741	200	6	best	well	ADV
framr-1741	200	7	fit	fit	ADJ
framr-1741	200	8	garch	garch	NOUN
framr-1741	200	9	models	model	NOUN
framr-1741	200	10	are	be	AUX
framr-1741	200	11	those	those	PRON
framr-1741	200	12	with	with	ADP
framr-1741	200	13	the	the	DET
framr-1741	200	14	highest	high	ADJ
framr-1741	200	15	adjusted	adjust	VERB
framr-1741	200	16	r	r	NOUN
framr-1741	200	17	-	-	PUNCT
framr-1741	200	18	squared	square	VERB
framr-1741	200	19	,	,	PUNCT
framr-1741	200	20	lowest	low	ADJ
framr-1741	200	21	aic	aic	PROPN
framr-1741	200	22	and	and	CCONJ
framr-1741	200	23	sic	sic	ADJ
framr-1741	200	24	,	,	PUNCT
framr-1741	200	25	no	no	DET
framr-1741	200	26	serial	serial	ADJ
framr-1741	200	27	correlation	correlation	NOUN
framr-1741	200	28	and	and	CCONJ
framr-1741	200	29	heteroscedasticity	heteroscedasticity	NOUN
framr-1741	200	30	in	in	ADP
framr-1741	200	31	the	the	DET
framr-1741	200	32	residuals	residual	NOUN
framr-1741	200	33	(	(	PUNCT
framr-1741	200	34	engle	engle	NOUN
framr-1741	200	35	,	,	PUNCT
framr-1741	200	36	1982	1982	NUM
framr-1741	200	37	)	)	PUNCT
framr-1741	200	38	.	.	PUNCT
framr-1741	201	1	evidence	evidence	NOUN
framr-1741	201	2	of	of	ADP
framr-1741	201	3	no	no	DET
framr-1741	201	4	serial	serial	ADJ
framr-1741	201	5	correlation	correlation	NOUN
framr-1741	201	6	and	and	CCONJ
framr-1741	201	7	heteroscedasticity	heteroscedasticity	NOUN
framr-1741	201	8	is	be	AUX
framr-1741	201	9	when	when	SCONJ
framr-1741	201	10	the	the	DET
framr-1741	201	11	p	p	NOUN
framr-1741	201	12	-	-	PUNCT
framr-1741	201	13	values	value	NOUN
framr-1741	201	14	of	of	ADP
framr-1741	201	15	the	the	DET
framr-1741	201	16	q	q	NOUN
framr-1741	201	17	-	-	PUNCT
framr-1741	201	18	statistics	statistic	NOUN
framr-1741	201	19	and	and	CCONJ
framr-1741	201	20	f	f	X
framr-1741	201	21	-	-	PUNCT
framr-1741	201	22	statistic	statistic	NOUN
framr-1741	201	23	are	be	AUX
framr-1741	201	24	statistically	statistically	ADV
framr-1741	201	25	insignificant	insignificant	ADJ
framr-1741	201	26	.	.	PUNCT
framr-1741	202	1	however	however	ADV
framr-1741	202	2	,	,	PUNCT
framr-1741	202	3	all	all	DET
framr-1741	202	4	the	the	DET
framr-1741	202	5	models	model	NOUN
framr-1741	202	6	passed	pass	VERB
framr-1741	202	7	the	the	DET
framr-1741	202	8	serial	serial	ADJ
framr-1741	202	9	correlation	correlation	NOUN
framr-1741	202	10	and	and	CCONJ
framr-1741	202	11	heteroscedasticity	heteroscedasticity	NOUN
framr-1741	202	12	tests	test	NOUN
framr-1741	202	13	but	but	CCONJ
framr-1741	202	14	varied	varied	ADJ
framr-1741	202	15	slightly	slightly	ADV
framr-1741	202	16	in	in	ADP
framr-1741	202	17	other	other	ADJ
framr-1741	202	18	selection	selection	NOUN
framr-1741	202	19	criteria	criterion	NOUN
framr-1741	202	20	such	such	ADJ
framr-1741	202	21	as	as	ADP
framr-1741	202	22	the	the	DET
framr-1741	202	23	aic	aic	PROPN
framr-1741	202	24	and	and	CCONJ
framr-1741	202	25	sic	sic	ADJ
framr-1741	202	26	,	,	PUNCT
framr-1741	202	27	log	log	NOUN
framr-1741	202	28	likelihood	likelihood	NOUN
framr-1741	202	29	and	and	CCONJ
framr-1741	202	30	coefficient	coefficient	NOUN
framr-1741	202	31	of	of	ADP
framr-1741	202	32	determination	determination	NOUN
framr-1741	202	33	.	.	PUNCT
framr-1741	203	1	having	have	VERB
framr-1741	203	2	,	,	PUNCT
framr-1741	203	3	x	x	VERB
framr-1741	203	4	-	-	VERB
framr-1741	203	5	rayed	ray	VERB
framr-1741	203	6	the	the	DET
framr-1741	203	7	various	various	ADJ
framr-1741	203	8	garch	garch	NOUN
framr-1741	203	9	models	model	NOUN
framr-1741	203	10	,	,	PUNCT
framr-1741	203	11	the	the	DET
framr-1741	203	12	symmetric	symmetric	ADJ
framr-1741	203	13	garch	garch	NOUN
framr-1741	203	14	-	-	PUNCT
framr-1741	203	15	m	m	PROPN
framr-1741	203	16	(	(	PUNCT
framr-1741	203	17	1,1	1,1	NUM
framr-1741	203	18	)	)	PUNCT
framr-1741	203	19	and	and	CCONJ
framr-1741	203	20	asymmetric	asymmetric	ADJ
framr-1741	203	21	tgarch	tgarch	PROPN
framr-1741	203	22	(	(	PUNCT
framr-1741	203	23	1,1	1,1	NUM
framr-1741	203	24	)	)	PUNCT
framr-1741	203	25	models	model	NOUN
framr-1741	203	26	were	be	AUX
framr-1741	203	27	selected	select	VERB
framr-1741	203	28	.	.	PUNCT
framr-1741	204	1	the	the	DET
framr-1741	204	2	symmetric	symmetric	ADJ
framr-1741	204	3	garch(1,1	garch(1,1	NOUN
framr-1741	204	4	)	)	PUNCT
framr-1741	204	5	and	and	CCONJ
framr-1741	204	6	garch	garch	NOUN
framr-1741	204	7	-	-	PUNCT
framr-1741	204	8	m(1,1	m(1,1	NOUN
framr-1741	204	9	)	)	PUNCT
framr-1741	204	10	are	be	AUX
framr-1741	204	11	reported	report	VERB
framr-1741	204	12	in	in	ADP
framr-1741	204	13	table	table	NOUN
framr-1741	204	14	3	3	NUM
framr-1741	204	15	:	:	PUNCT
framr-1741	204	16	financial	financial	ADJ
framr-1741	204	17	risk	risk	NOUN
framr-1741	204	18	and	and	CCONJ
framr-1741	204	19	management	management	NOUN
framr-1741	204	20	reviews	review	NOUN
framr-1741	204	21	,	,	PUNCT
framr-1741	204	22	2021	2021	NUM
framr-1741	204	23	,	,	PUNCT
framr-1741	204	24	7(1	7(1	NUM
framr-1741	204	25	):	):	PUNCT
framr-1741	204	26	1	1	NUM
framr-1741	204	27	-	-	SYM
framr-1741	204	28	15	15	NUM
framr-1741	204	29	10	10	NUM
framr-1741	204	30	©	©	PROPN
framr-1741	204	31	2021	2021	NUM
framr-1741	204	32	conscientia	conscientia	PROPN
framr-1741	204	33	beam	beam	PROPN
framr-1741	204	34	.	.	PUNCT
framr-1741	205	1	all	all	DET
framr-1741	205	2	rights	right	NOUN
framr-1741	205	3	reserved	reserve	VERB
framr-1741	205	4	.	.	PUNCT
framr-1741	206	1	table-3	table-3	X
framr-1741	206	2	.	.	PUNCT
framr-1741	207	1	estimated	estimate	VERB
framr-1741	207	2	result	result	NOUN
framr-1741	207	3	of	of	ADP
framr-1741	207	4	garch	garch	NOUN
framr-1741	207	5	(	(	PUNCT
framr-1741	207	6	1,1	1,1	NUM
framr-1741	207	7	)	)	PUNCT
framr-1741	207	8	and	and	CCONJ
framr-1741	207	9	garch	garch	NOUN
framr-1741	207	10	-	-	PUNCT
framr-1741	207	11	m	m	PROPN
framr-1741	207	12	(	(	PUNCT
framr-1741	207	13	1,1	1,1	NUM
framr-1741	207	14	)	)	PUNCT
framr-1741	207	15	models	model	NOUN
framr-1741	207	16	.	.	PUNCT
framr-1741	208	1	parameters	parameter	NOUN
framr-1741	208	2	garch	garch	NOUN
framr-1741	208	3	-	-	PUNCT
framr-1741	208	4	m	m	PROPN
framr-1741	208	5	(	(	PUNCT
framr-1741	208	6	1,1	1,1	NUM
framr-1741	208	7	)	)	PUNCT
framr-1741	208	8	garch	garch	NOUN
framr-1741	208	9	-	-	PUNCT
framr-1741	208	10	m	m	PROPN
framr-1741	208	11	(	(	PUNCT
framr-1741	208	12	1,1	1,1	NUM
framr-1741	208	13	)	)	PUNCT
framr-1741	208	14	mean	mean	NOUN
framr-1741	208	15	equation	equation	NOUN
framr-1741	208	16	:	:	PUNCT
framr-1741	208	17	(	(	PUNCT
framr-1741	208	18	mean	mean	INTJ
framr-1741	208	19	return	return	NOUN
framr-1741	208	20	)	)	PUNCT
framr-1741	208	21	0.007780{0.0000	0.007780{0.0000	NUM
framr-1741	208	22	}	}	PUNCT
framr-1741	208	23	*	*	PUNCT
framr-1741	208	24	*	*	PUNCT
framr-1741	208	25	*	*	PUNCT
framr-1741	208	26	0.006100	0.006100	NUM
framr-1741	208	27	{	{	PUNCT
framr-1741	208	28	0.0028	0.0028	NUM
framr-1741	208	29	}	}	PUNCT
framr-1741	208	30	*	*	PUNCT
framr-1741	208	31	*	*	PUNCT
framr-1741	208	32	*	*	PUNCT
framr-1741	208	33	⋌	⋌	NOUN
framr-1741	208	34	(	(	PUNCT
framr-1741	208	35	risk	risk	NOUN
framr-1741	208	36	premium	premium	NOUN
framr-1741	208	37	)	)	PUNCT
framr-1741	208	38	-0.245237	-0.245237	X
framr-1741	208	39	{	{	PUNCT
framr-1741	208	40	0.2066	0.2066	NUM
framr-1741	208	41	}	}	PUNCT
framr-1741	208	42	variance	variance	NOUN
framr-1741	208	43	equation	equation	NOUN
framr-1741	208	44	:	:	PUNCT
framr-1741	208	45	(	(	PUNCT
framr-1741	208	46	constant	constant	ADJ
framr-1741	208	47	)	)	PUNCT
framr-1741	208	48	0.000367{0.0000	0.000367{0.0000	NUM
framr-1741	208	49	}	}	PUNCT
framr-1741	208	50	*	*	PUNCT
framr-1741	208	51	*	*	PUNCT
framr-1741	208	52	*	*	PUNCT
framr-1741	208	53	0.000368{0.0000	0.000368{0.0000	NUM
framr-1741	208	54	}	}	PUNCT
framr-1741	208	55	*	*	PUNCT
framr-1741	208	56	*	*	PUNCT
framr-1741	208	57	*	*	PUNCT
framr-1741	208	58	(	(	PUNCT
framr-1741	208	59	arch	arch	ADJ
framr-1741	208	60	effect	effect	NOUN
framr-1741	208	61	)	)	PUNCT
framr-1741	208	62	0.187895{0.0000	0.187895{0.0000	NUM
framr-1741	208	63	}	}	PUNCT
framr-1741	208	64	*	*	PUNCT
framr-1741	208	65	*	*	PUNCT
framr-1741	208	66	*	*	PUNCT
framr-1741	208	67	0.187645{0.0000	0.187645{0.0000	NUM
framr-1741	208	68	}	}	PUNCT
framr-1741	208	69	*	*	PUNCT
framr-1741	208	70	*	*	PUNCT
framr-1741	208	71	*	*	PUNCT
framr-1741	208	72	(	(	PUNCT
framr-1741	208	73	garch	garch	NOUN
framr-1741	208	74	effect	effect	NOUN
framr-1741	208	75	)	)	PUNCT
framr-1741	208	76	0.796539{0.0000	0.796539{0.0000	NUM
framr-1741	208	77	}	}	PUNCT
framr-1741	208	78	*	*	PUNCT
framr-1741	208	79	*	*	PUNCT
framr-1741	208	80	*	*	PUNCT
framr-1741	208	81	0.796632{0.0000	0.796632{0.0000	NUM
framr-1741	208	82	}	}	PUNCT
framr-1741	208	83	*	*	PUNCT
framr-1741	208	84	*	*	PUNCT
framr-1741	208	85	*	*	PUNCT
framr-1741	208	86	(	(	PUNCT
framr-1741	208	87	persistence	persistence	NOUN
framr-1741	208	88	coefficient	coefficient	NOUN
framr-1741	208	89	)	)	PUNCT
framr-1741	208	90	0.984434	0.984434	NUM
framr-1741	208	91	0.984277	0.984277	NUM
framr-1741	208	92	log	log	NOUN
framr-1741	208	93	likelihood	likelihood	NOUN
framr-1741	208	94	2429.474	2429.474	PROPN
framr-1741	208	95	2430.389	2430.389	NUM
framr-1741	208	96	aic	aic	PROPN
framr-1741	208	97	-1.848627	-1.848627	PROPN
framr-1741	208	98	-1.848562	-1.848562	PROPN
framr-1741	208	99	sic	sic	ADJ
framr-1741	208	100	-1.837433	-1.837433	PROPN
framr-1741	208	101	-1.835130	-1.835130	PROPN
framr-1741	208	102	adjusted	adjust	VERB
framr-1741	208	103	r	r	NOUN
framr-1741	208	104	-	-	PUNCT
framr-1741	208	105	squared	square	VERB
framr-1741	208	106	-0.008763	-0.008763	PROPN
framr-1741	208	107	-0.016122	-0.016122	NOUN
framr-1741	208	108	residual	residual	ADJ
framr-1741	208	109	diagnostics	diagnostic	NOUN
framr-1741	208	110	:	:	PUNCT
framr-1741	208	111	serial	serial	ADJ
framr-1741	208	112	correlation	correlation	NOUN
framr-1741	208	113	(	(	PUNCT
framr-1741	208	114	q	q	ADJ
framr-1741	208	115	-	-	PUNCT
framr-1741	208	116	statistic	statistic	ADJ
framr-1741	208	117	probabilities	probability	NOUN
framr-1741	208	118	)	)	PUNCT
framr-1741	208	119	q	q	NOUN
framr-1741	209	1	>	>	X
framr-1741	209	2	0.05	0.05	NUM
framr-1741	209	3	(	(	PUNCT
framr-1741	209	4	no	no	DET
framr-1741	209	5	autocorrelation	autocorrelation	NOUN
framr-1741	209	6	)	)	PUNCT
framr-1741	209	7	q	q	NOUN
framr-1741	210	1	>	>	X
framr-1741	210	2	0.05	0.05	NUM
framr-1741	210	3	(	(	PUNCT
framr-1741	210	4	no	no	DET
framr-1741	210	5	autocorrelation	autocorrelation	NOUN
framr-1741	210	6	)	)	PUNCT
framr-1741	210	7	heteroscedasticity	heteroscedasticity	NOUN
framr-1741	210	8	:	:	PUNCT
framr-1741	210	9	f	f	X
framr-1741	210	10	-	-	PUNCT
framr-1741	210	11	statistic	statistic	NOUN
framr-1741	210	12	0.612562	0.612562	NUM
framr-1741	210	13	{	{	PUNCT
framr-1741	210	14	0.4339	0.4339	NUM
framr-1741	210	15	}	}	PUNCT
framr-1741	210	16	0.534893	0.534893	NUM
framr-1741	210	17	{	{	PUNCT
framr-1741	210	18	0.4646	0.4646	NUM
framr-1741	210	19	}	}	PUNCT
framr-1741	210	20	note	note	NOUN
framr-1741	210	21	:	:	PUNCT
framr-1741	210	22	*	*	PUNCT
framr-1741	210	23	*	*	PUNCT
framr-1741	210	24	and	and	CCONJ
framr-1741	210	25	*	*	PUNCT
framr-1741	210	26	*	*	PUNCT
framr-1741	210	27	*	*	PUNCT
framr-1741	210	28	indicate	indicate	VERB
framr-1741	210	29	rejection	rejection	NOUN
framr-1741	210	30	of	of	ADP
framr-1741	210	31	the	the	DET
framr-1741	210	32	null	null	ADJ
framr-1741	210	33	hypothesis	hypothesis	NOUN
framr-1741	210	34	@	@	ADP
framr-1741	210	35	5	5	NUM
framr-1741	210	36	%	%	NOUN
framr-1741	210	37	,	,	PUNCT
framr-1741	210	38	and	and	CCONJ
framr-1741	210	39	1	1	NUM
framr-1741	210	40	%	%	NOUN
framr-1741	210	41	levels	level	NOUN
framr-1741	210	42	of	of	ADP
framr-1741	210	43	significance	significance	NOUN
framr-1741	210	44	,	,	PUNCT
framr-1741	210	45	respectively	respectively	ADV
framr-1741	210	46	.	.	PUNCT
framr-1741	211	1	figures	figure	NOUN
framr-1741	211	2	in	in	ADP
framr-1741	211	3	parenthesis	parenthesis	NOUN
framr-1741	211	4	{	{	PUNCT
framr-1741	211	5	)	)	PUNCT
framr-1741	211	6	are	be	AUX
framr-1741	211	7	the	the	DET
framr-1741	211	8	probability	probability	NOUN
framr-1741	211	9	values	value	NOUN
framr-1741	211	10	.	.	PUNCT
framr-1741	212	1	from	from	ADP
framr-1741	212	2	table	table	NOUN
framr-1741	212	3	3	3	NUM
framr-1741	212	4	,	,	PUNCT
framr-1741	212	5	though	though	SCONJ
framr-1741	212	6	the	the	DET
framr-1741	212	7	sic	sic	NOUN
framr-1741	212	8	and	and	CCONJ
framr-1741	212	9	aic	aic	PROPN
framr-1741	212	10	associated	associate	VERB
framr-1741	212	11	with	with	ADP
framr-1741	212	12	the	the	DET
framr-1741	212	13	garch	garch	NOUN
framr-1741	212	14	(	(	PUNCT
framr-1741	212	15	1,1	1,1	NUM
framr-1741	212	16	)	)	PUNCT
framr-1741	212	17	and	and	CCONJ
framr-1741	212	18	garch	garch	NOUN
framr-1741	212	19	-	-	PUNCT
framr-1741	212	20	m	m	PROPN
framr-1741	212	21	(	(	PUNCT
framr-1741	212	22	1,1	1,1	NUM
framr-1741	212	23	)	)	PUNCT
framr-1741	212	24	varied	varied	ADJ
framr-1741	212	25	slightly	slightly	ADV
framr-1741	212	26	,	,	PUNCT
framr-1741	212	27	the	the	DET
framr-1741	212	28	adjusted	adjusted	ADJ
framr-1741	212	29	r	r	NOUN
framr-1741	212	30	-	-	PUNCT
framr-1741	212	31	squared	square	VERB
framr-1741	212	32	(	(	PUNCT
framr-1741	212	33	-0.016122	-0.016122	NOUN
framr-1741	212	34	)	)	PUNCT
framr-1741	212	35	of	of	ADP
framr-1741	212	36	the	the	DET
framr-1741	212	37	latter	latter	ADJ
framr-1741	212	38	is	be	AUX
framr-1741	212	39	greater	great	ADJ
framr-1741	212	40	than	than	ADP
framr-1741	212	41	that	that	PRON
framr-1741	212	42	of	of	ADP
framr-1741	212	43	the	the	DET
framr-1741	212	44	former	former	ADJ
framr-1741	212	45	in	in	ADP
framr-1741	212	46	absolute	absolute	ADJ
framr-1741	212	47	value	value	NOUN
framr-1741	212	48	.	.	PUNCT
framr-1741	213	1	hence	hence	ADV
framr-1741	213	2	the	the	DET
framr-1741	213	3	garch	garch	NOUN
framr-1741	213	4	-	-	PUNCT
framr-1741	213	5	m	m	PROPN
framr-1741	213	6	was	be	AUX
framr-1741	213	7	accepted	accept	VERB
framr-1741	213	8	as	as	ADP
framr-1741	213	9	the	the	DET
framr-1741	213	10	best	good	ADJ
framr-1741	213	11	fit	fit	ADJ
framr-1741	213	12	model	model	NOUN
framr-1741	213	13	for	for	ADP
framr-1741	213	14	the	the	DET
framr-1741	213	15	symmetric	symmetric	ADJ
framr-1741	213	16	garch	garch	NOUN
framr-1741	213	17	.	.	PUNCT
framr-1741	214	1	it	it	PRON
framr-1741	214	2	can	can	AUX
framr-1741	214	3	be	be	AUX
framr-1741	214	4	seen	see	VERB
framr-1741	214	5	that	that	SCONJ
framr-1741	214	6	the	the	DET
framr-1741	214	7	sum	sum	NOUN
framr-1741	214	8	of	of	ADP
framr-1741	214	9	arch	arch	ADJ
framr-1741	214	10	and	and	CCONJ
framr-1741	214	11	garch	garch	NOUN
framr-1741	214	12	coefficients	coefficient	NOUN
framr-1741	214	13	of	of	ADP
framr-1741	214	14	the	the	DET
framr-1741	214	15	garch	garch	NOUN
framr-1741	214	16	-	-	PUNCT
framr-1741	214	17	m	m	PROPN
framr-1741	214	18	(	(	PUNCT
framr-1741	214	19	1,1	1,1	NUM
framr-1741	214	20	)	)	PUNCT
framr-1741	214	21	model	model	NOUN
framr-1741	214	22	is	be	AUX
framr-1741	214	23	0.984442	0.984442	NUM
framr-1741	214	24	.	.	PUNCT
framr-1741	215	1	this	this	PRON
framr-1741	215	2	indicates	indicate	VERB
framr-1741	215	3	that	that	SCONJ
framr-1741	215	4	volatility	volatility	NOUN
framr-1741	215	5	of	of	ADP
framr-1741	215	6	the	the	DET
framr-1741	215	7	r_spg	r_spg	NOUN
framr-1741	215	8	series	series	NOUN
framr-1741	215	9	was	be	AUX
framr-1741	215	10	highly	highly	ADV
framr-1741	215	11	persistent	persistent	ADJ
framr-1741	215	12	.	.	PUNCT
framr-1741	216	1	it	it	PRON
framr-1741	216	2	then	then	ADV
framr-1741	216	3	suggests	suggest	VERB
framr-1741	216	4	that	that	SCONJ
framr-1741	216	5	the	the	DET
framr-1741	216	6	r_spg	r_spg	NOUN
framr-1741	216	7	for	for	ADP
framr-1741	216	8	the	the	DET
framr-1741	216	9	sampled	sample	VERB
framr-1741	216	10	period	period	NOUN
framr-1741	216	11	is	be	AUX
framr-1741	216	12	mean	mean	ADV
framr-1741	216	13	reverting	revert	VERB
framr-1741	216	14	.	.	PUNCT
framr-1741	217	1	this	this	DET
framr-1741	217	2	finding	finding	NOUN
framr-1741	217	3	is	be	AUX
framr-1741	217	4	in	in	ADP
framr-1741	217	5	line	line	NOUN
framr-1741	217	6	with	with	ADP
framr-1741	217	7	those	those	PRON
framr-1741	217	8	of	of	ADP
framr-1741	217	9	bello	bello	PROPN
framr-1741	217	10	(	(	PUNCT
framr-1741	217	11	2020	2020	NUM
framr-1741	217	12	)	)	PUNCT
framr-1741	217	13	;	;	PUNCT
framr-1741	218	1	jebari	jebari	ADV
framr-1741	218	2	and	and	CCONJ
framr-1741	218	3	hakmaoui	hakmaoui	ADJ
framr-1741	218	4	(	(	PUNCT
framr-1741	218	5	2017	2017	NUM
framr-1741	218	6	)	)	PUNCT
framr-1741	218	7	;	;	PUNCT
framr-1741	218	8	wang	wang	PROPN
framr-1741	218	9	and	and	CCONJ
framr-1741	218	10	yang	yang	PROPN
framr-1741	218	11	(	(	PUNCT
framr-1741	218	12	2017	2017	NUM
framr-1741	218	13	)	)	PUNCT
framr-1741	218	14	;	;	PUNCT
framr-1741	218	15	ahmad	ahmad	PROPN
framr-1741	218	16	et	et	PROPN
framr-1741	218	17	al	al	PROPN
framr-1741	218	18	.	.	PUNCT
framr-1741	219	1	(	(	PUNCT
framr-1741	219	2	2016	2016	NUM
framr-1741	219	3	)	)	PUNCT
framr-1741	219	4	;	;	PUNCT
framr-1741	219	5	wang	wang	PROPN
framr-1741	219	6	et	et	PROPN
framr-1741	219	7	al	al	PROPN
framr-1741	219	8	.	.	PROPN
framr-1741	220	1	(	(	PUNCT
framr-1741	220	2	2015	2015	NUM
framr-1741	220	3	)	)	PUNCT
framr-1741	220	4	;	;	PUNCT
framr-1741	220	5	banumathy	banumathy	ADJ
framr-1741	220	6	and	and	CCONJ
framr-1741	220	7	azhagaiah	azhagaiah	PROPN
framr-1741	220	8	(	(	PUNCT
framr-1741	220	9	2015	2015	NUM
framr-1741	220	10	)	)	PUNCT
framr-1741	220	11	that	that	SCONJ
framr-1741	220	12	stock	stock	NOUN
framr-1741	220	13	markets	market	NOUN
framr-1741	220	14	of	of	ADP
framr-1741	220	15	nigeria	nigeria	PROPN
framr-1741	220	16	,	,	PUNCT
framr-1741	220	17	morocco	morocco	PROPN
framr-1741	220	18	,	,	PUNCT
framr-1741	220	19	china	china	PROPN
framr-1741	220	20	,	,	PUNCT
framr-1741	220	21	asian	asian	ADJ
framr-1741	220	22	countries	country	NOUN
framr-1741	220	23	,	,	PUNCT
framr-1741	220	24	united	united	PROPN
framr-1741	220	25	states	states	PROPN
framr-1741	220	26	and	and	CCONJ
framr-1741	220	27	india	india	PROPN
framr-1741	220	28	exhibited	exhibit	VERB
framr-1741	220	29	high	high	ADJ
framr-1741	220	30	volatility	volatility	NOUN
framr-1741	220	31	persistence	persistence	NOUN
framr-1741	220	32	.	.	PUNCT
framr-1741	221	1	also	also	ADV
framr-1741	221	2	,	,	PUNCT
framr-1741	221	3	ndei	ndei	NOUN
framr-1741	221	4	et	et	PROPN
framr-1741	221	5	al	al	PROPN
framr-1741	221	6	.	.	PROPN
framr-1741	222	1	(	(	PUNCT
framr-1741	222	2	2019	2019	NUM
framr-1741	222	3	)	)	PUNCT
framr-1741	222	4	;	;	PUNCT
framr-1741	222	5	caporale	caporale	NOUN
framr-1741	222	6	et	et	PROPN
framr-1741	222	7	al	al	PROPN
framr-1741	222	8	.	.	PROPN
framr-1741	223	1	(	(	PUNCT
framr-1741	223	2	2019	2019	NUM
framr-1741	223	3	)	)	PUNCT
framr-1741	223	4	;	;	PUNCT
framr-1741	223	5	aguda	aguda	X
framr-1741	223	6	(	(	PUNCT
framr-1741	223	7	2016	2016	NUM
framr-1741	223	8	)	)	PUNCT
framr-1741	223	9	;	;	PUNCT
framr-1741	223	10	berument	berument	NOUN
framr-1741	223	11	and	and	CCONJ
framr-1741	223	12	kiymaz	kiymaz	NOUN
framr-1741	223	13	(	(	PUNCT
framr-1741	223	14	2001	2001	NUM
framr-1741	223	15	)	)	PUNCT
framr-1741	223	16	are	be	AUX
framr-1741	223	17	of	of	ADP
framr-1741	223	18	the	the	DET
framr-1741	223	19	view	view	NOUN
framr-1741	223	20	that	that	SCONJ
framr-1741	223	21	stock	stock	NOUN
framr-1741	223	22	returns	return	NOUN
framr-1741	223	23	volatility	volatility	NOUN
framr-1741	223	24	is	be	AUX
framr-1741	223	25	persistent	persistent	ADJ
framr-1741	223	26	but	but	CCONJ
framr-1741	223	27	varied	varied	ADJ
framr-1741	223	28	with	with	ADP
framr-1741	223	29	time	time	NOUN
framr-1741	223	30	,	,	PUNCT
framr-1741	223	31	business	business	NOUN
framr-1741	223	32	cycle	cycle	NOUN
framr-1741	223	33	,	,	PUNCT
framr-1741	223	34	etc	etc	X
framr-1741	223	35	.	.	X
framr-1741	224	1	on	on	ADP
framr-1741	224	2	the	the	DET
framr-1741	224	3	other	other	ADJ
framr-1741	224	4	hand	hand	NOUN
framr-1741	224	5	,	,	PUNCT
framr-1741	224	6	the	the	DET
framr-1741	224	7	estimated	estimate	VERB
framr-1741	224	8	coefficient	coefficient	NOUN
framr-1741	224	9	of	of	ADP
framr-1741	224	10	the	the	DET
framr-1741	224	11	risk	risk	NOUN
framr-1741	224	12	premium	premium	NOUN
framr-1741	224	13	in	in	ADP
framr-1741	224	14	the	the	DET
framr-1741	224	15	mean	mean	ADJ
framr-1741	224	16	equation	equation	NOUN
framr-1741	224	17	is	be	AUX
framr-1741	224	18	positive	positive	ADJ
framr-1741	224	19	and	and	CCONJ
framr-1741	224	20	statistically	statistically	ADV
framr-1741	224	21	insignificant	insignificant	ADJ
framr-1741	224	22	which	which	PRON
framr-1741	224	23	indicates	indicate	VERB
framr-1741	224	24	that	that	SCONJ
framr-1741	224	25	volatility	volatility	NOUN
framr-1741	224	26	has	have	VERB
framr-1741	224	27	no	no	DET
framr-1741	224	28	significant	significant	ADJ
framr-1741	224	29	impact	impact	NOUN
framr-1741	224	30	on	on	ADP
framr-1741	224	31	expected	expect	VERB
framr-1741	224	32	returns	return	NOUN
framr-1741	224	33	of	of	ADP
framr-1741	224	34	the	the	DET
framr-1741	224	35	global	global	ADJ
framr-1741	224	36	stock	stock	NOUN
framr-1741	224	37	market	market	NOUN
framr-1741	224	38	which	which	PRON
framr-1741	224	39	indicates	indicate	VERB
framr-1741	224	40	lack	lack	NOUN
framr-1741	224	41	of	of	ADP
framr-1741	224	42	risk	risk	NOUN
framr-1741	224	43	-	-	PUNCT
framr-1741	224	44	return	return	NOUN
framr-1741	224	45	trade	trade	NOUN
framr-1741	224	46	-	-	PUNCT
framr-1741	224	47	off	off	NOUN
framr-1741	224	48	.	.	PUNCT
framr-1741	225	1	this	this	PRON
framr-1741	225	2	means	mean	VERB
framr-1741	225	3	that	that	SCONJ
framr-1741	225	4	higher	high	ADJ
framr-1741	225	5	market	market	NOUN
framr-1741	225	6	risk	risk	NOUN
framr-1741	225	7	arising	arise	VERB
framr-1741	225	8	from	from	ADP
framr-1741	225	9	the	the	DET
framr-1741	225	10	conditional	conditional	ADJ
framr-1741	225	11	variance	variance	NOUN
framr-1741	225	12	(	(	PUNCT
framr-1741	225	13	volatility	volatility	NOUN
framr-1741	225	14	)	)	PUNCT
framr-1741	225	15	did	do	AUX
framr-1741	225	16	not	not	PART
framr-1741	225	17	necessarily	necessarily	ADV
framr-1741	225	18	trigger	trigger	VERB
framr-1741	225	19	higher	high	ADJ
framr-1741	225	20	returns	return	NOUN
framr-1741	225	21	in	in	ADP
framr-1741	225	22	the	the	DET
framr-1741	225	23	global	global	ADJ
framr-1741	225	24	market	market	NOUN
framr-1741	225	25	.	.	PUNCT
framr-1741	226	1	in	in	ADP
framr-1741	226	2	consonance	consonance	NOUN
framr-1741	226	3	with	with	ADP
framr-1741	226	4	ndei	ndei	NOUN
framr-1741	226	5	et	et	PROPN
framr-1741	226	6	al	al	PROPN
framr-1741	226	7	.	.	PROPN
framr-1741	226	8	(	(	PUNCT
framr-1741	226	9	2019	2019	NUM
framr-1741	226	10	)	)	PUNCT
framr-1741	226	11	;	;	PUNCT
framr-1741	226	12	banumathy	banumathy	ADJ
framr-1741	226	13	and	and	CCONJ
framr-1741	226	14	azhagaiah	azhagaiah	PROPN
framr-1741	226	15	(	(	PUNCT
framr-1741	226	16	2015	2015	NUM
framr-1741	226	17	)	)	PUNCT
framr-1741	226	18	this	this	PRON
framr-1741	226	19	implies	imply	VERB
framr-1741	226	20	that	that	SCONJ
framr-1741	226	21	investors	investor	NOUN
framr-1741	226	22	were	be	AUX
framr-1741	226	23	not	not	PART
framr-1741	226	24	compensated	compensate	VERB
framr-1741	226	25	for	for	ADP
framr-1741	226	26	taking	take	VERB
framr-1741	226	27	additional	additional	ADJ
framr-1741	226	28	investment	investment	NOUN
framr-1741	226	29	risks	risk	NOUN
framr-1741	226	30	,	,	PUNCT
framr-1741	226	31	but	but	CCONJ
framr-1741	226	32	contrary	contrary	ADJ
framr-1741	226	33	to	to	ADP
framr-1741	226	34	ndwiga	ndwiga	ADJ
framr-1741	226	35	and	and	CCONJ
framr-1741	226	36	muriu	muriu	PROPN
framr-1741	226	37	(	(	PUNCT
framr-1741	226	38	2016	2016	NUM
framr-1741	226	39	)	)	PUNCT
framr-1741	226	40	;	;	PUNCT
framr-1741	226	41	alagidede	alagidede	VERB
framr-1741	226	42	and	and	CCONJ
framr-1741	226	43	panagiotidis	panagiotidi	NOUN
framr-1741	226	44	(	(	PUNCT
framr-1741	226	45	2009	2009	NUM
framr-1741	226	46	)	)	PUNCT
framr-1741	226	47	who	who	PRON
framr-1741	226	48	found	find	VERB
framr-1741	226	49	significant	significant	ADJ
framr-1741	226	50	and	and	CCONJ
framr-1741	226	51	positive	positive	ADJ
framr-1741	226	52	risk	risk	NOUN
framr-1741	226	53	premium	premium	NOUN
framr-1741	226	54	in	in	ADP
framr-1741	226	55	kenya	kenya	PROPN
framr-1741	226	56	and	and	CCONJ
framr-1741	226	57	selected	select	VERB
framr-1741	226	58	african	african	ADJ
framr-1741	226	59	countries	country	NOUN
framr-1741	226	60	respectively	respectively	ADV
framr-1741	226	61	.	.	PUNCT
framr-1741	227	1	the	the	DET
framr-1741	227	2	plot	plot	NOUN
framr-1741	227	3	of	of	ADP
framr-1741	227	4	the	the	DET
framr-1741	227	5	conditional	conditional	ADJ
framr-1741	227	6	variance	variance	NOUN
framr-1741	227	7	presented	present	VERB
framr-1741	227	8	in	in	ADP
framr-1741	227	9	figure	figure	NOUN
framr-1741	227	10	4	4	NUM
framr-1741	227	11	below	below	ADV
framr-1741	227	12	depicts	depict	NOUN
framr-1741	227	13	that	that	SCONJ
framr-1741	227	14	volatility	volatility	NOUN
framr-1741	227	15	of	of	ADP
framr-1741	227	16	r_spg	r_spg	PROPN
framr-1741	227	17	was	be	AUX
framr-1741	227	18	high	high	ADJ
framr-1741	227	19	within	within	ADP
framr-1741	227	20	the	the	DET
framr-1741	227	21	trading	trading	NOUN
framr-1741	227	22	days	day	NOUN
framr-1741	227	23	in	in	ADP
framr-1741	227	24	late-2011	late-2011	ADJ
framr-1741	227	25	and	and	CCONJ
framr-1741	227	26	early	early	ADJ
framr-1741	227	27	2012	2012	NUM
framr-1741	227	28	probably	probably	ADV
framr-1741	227	29	due	due	ADP
framr-1741	227	30	to	to	ADP
framr-1741	227	31	the	the	DET
framr-1741	227	32	us	us	PROPN
framr-1741	227	33	and	and	CCONJ
framr-1741	227	34	european	european	ADJ
framr-1741	227	35	debt	debt	NOUN
framr-1741	227	36	crisis	crisis	NOUN
framr-1741	227	37	.	.	PUNCT
framr-1741	228	1	there	there	PRON
framr-1741	228	2	was	be	VERB
framr-1741	228	3	also	also	ADV
framr-1741	228	4	increased	increase	VERB
framr-1741	228	5	volatility	volatility	NOUN
framr-1741	228	6	in	in	ADP
framr-1741	228	7	the	the	DET
framr-1741	228	8	trading	trading	NOUN
framr-1741	228	9	days	day	NOUN
framr-1741	228	10	within	within	ADP
framr-1741	228	11	the	the	DET
framr-1741	228	12	third	third	ADJ
framr-1741	228	13	quarter	quarter	NOUN
framr-1741	228	14	of	of	ADP
framr-1741	228	15	2015	2015	NUM
framr-1741	228	16	and	and	CCONJ
framr-1741	228	17	decreased	decrease	VERB
framr-1741	228	18	towards	towards	ADP
framr-1741	228	19	the	the	DET
framr-1741	228	20	end	end	NOUN
framr-1741	228	21	of	of	ADP
framr-1741	228	22	the	the	DET
framr-1741	228	23	fourth	fourth	ADJ
framr-1741	228	24	quarter	quarter	NOUN
framr-1741	228	25	of	of	ADP
framr-1741	228	26	the	the	DET
framr-1741	228	27	same	same	ADJ
framr-1741	228	28	year	year	NOUN
framr-1741	228	29	.	.	PUNCT
framr-1741	229	1	volatility	volatility	NOUN
framr-1741	229	2	increased	increase	VERB
framr-1741	229	3	and	and	CCONJ
framr-1741	229	4	dropped	drop	VERB
framr-1741	229	5	within	within	ADP
framr-1741	229	6	the	the	DET
framr-1741	229	7	trading	trading	NOUN
framr-1741	229	8	days	day	NOUN
framr-1741	229	9	in	in	ADP
framr-1741	229	10	the	the	DET
framr-1741	229	11	second	second	ADJ
framr-1741	229	12	quarter	quarter	NOUN
framr-1741	229	13	of	of	ADP
framr-1741	229	14	2016	2016	NUM
framr-1741	229	15	.	.	PUNCT
framr-1741	230	1	r_spg	r_spg	ADP
framr-1741	230	2	volatility	volatility	NOUN
framr-1741	230	3	was	be	AUX
framr-1741	230	4	also	also	ADV
framr-1741	230	5	evident	evident	ADJ
framr-1741	230	6	in	in	ADP
framr-1741	230	7	the	the	DET
framr-1741	230	8	trading	trading	NOUN
framr-1741	230	9	days	day	NOUN
framr-1741	230	10	of	of	ADP
framr-1741	230	11	the	the	DET
framr-1741	230	12	first	first	ADJ
framr-1741	230	13	and	and	CCONJ
framr-1741	230	14	fourth	fourth	ADJ
framr-1741	230	15	quarters	quarter	NOUN
framr-1741	230	16	of	of	ADP
framr-1741	230	17	2018	2018	NUM
framr-1741	230	18	probably	probably	ADV
framr-1741	230	19	due	due	ADJ
framr-1741	230	20	to	to	ADP
framr-1741	230	21	financial	financial	ADJ
framr-1741	230	22	risk	risk	NOUN
framr-1741	230	23	and	and	CCONJ
framr-1741	230	24	management	management	NOUN
framr-1741	230	25	reviews	review	NOUN
framr-1741	230	26	,	,	PUNCT
framr-1741	230	27	2021	2021	NUM
framr-1741	230	28	,	,	PUNCT
framr-1741	230	29	7(1	7(1	NUM
framr-1741	230	30	):	):	PUNCT
framr-1741	230	31	1	1	NUM
framr-1741	230	32	-	-	SYM
framr-1741	230	33	15	15	NUM
framr-1741	230	34	11	11	NUM
framr-1741	230	35	©	©	PROPN
framr-1741	230	36	2021	2021	NUM
framr-1741	230	37	conscientia	conscientia	PROPN
framr-1741	230	38	beam	beam	PROPN
framr-1741	230	39	.	.	PUNCT
framr-1741	231	1	all	all	DET
framr-1741	231	2	rights	right	NOUN
framr-1741	231	3	reserved	reserve	VERB
framr-1741	231	4	.	.	PUNCT
framr-1741	232	1	the	the	DET
framr-1741	232	2	us	us	PROPN
framr-1741	232	3	/	/	SYM
framr-1741	232	4	china	china	PROPN
framr-1741	232	5	trade	trade	PROPN
framr-1741	232	6	war	war	NOUN
framr-1741	232	7	(	(	PUNCT
framr-1741	232	8	see	see	VERB
framr-1741	232	9	,	,	PUNCT
framr-1741	232	10	wang	wang	PROPN
framr-1741	232	11	,	,	PUNCT
framr-1741	232	12	yao	yao	PROPN
framr-1741	232	13	,	,	PUNCT
framr-1741	232	14	and	and	CCONJ
framr-1741	232	15	bonne	bonne	PROPN
framr-1741	232	16	(	(	PUNCT
framr-1741	232	17	2020	2020	NUM
framr-1741	232	18	)	)	PUNCT
framr-1741	232	19	)	)	PUNCT
framr-1741	232	20	.	.	PUNCT
framr-1741	233	1	again	again	ADV
framr-1741	233	2	,	,	PUNCT
framr-1741	233	3	the	the	DET
framr-1741	233	4	r_spg	r_spg	ADP
framr-1741	233	5	experienced	experienced	ADJ
framr-1741	233	6	explosive	explosive	ADJ
framr-1741	233	7	volatility	volatility	NOUN
framr-1741	233	8	during	during	ADP
framr-1741	233	9	the	the	DET
framr-1741	233	10	trading	trading	NOUN
framr-1741	233	11	days	day	NOUN
framr-1741	233	12	in	in	ADP
framr-1741	233	13	the	the	DET
framr-1741	233	14	first	first	ADJ
framr-1741	233	15	and	and	CCONJ
framr-1741	233	16	second	second	ADJ
framr-1741	233	17	quarters	quarter	NOUN
framr-1741	233	18	of	of	ADP
framr-1741	233	19	2020	2020	NUM
framr-1741	233	20	which	which	PRON
framr-1741	233	21	later	later	ADV
framr-1741	233	22	trended	trend	VERB
framr-1741	233	23	downwards	downwards	ADV
framr-1741	233	24	towards	towards	ADP
framr-1741	233	25	the	the	DET
framr-1741	233	26	trading	trading	NOUN
framr-1741	233	27	days	day	NOUN
framr-1741	233	28	in	in	ADP
framr-1741	233	29	the	the	DET
framr-1741	233	30	third	third	ADJ
framr-1741	233	31	quarter	quarter	NOUN
framr-1741	233	32	due	due	ADP
framr-1741	233	33	to	to	ADP
framr-1741	233	34	the	the	DET
framr-1741	233	35	covid-19	covid-19	PROPN
framr-1741	233	36	pandemic	pandemic	NOUN
framr-1741	233	37	and	and	CCONJ
framr-1741	233	38	the	the	DET
framr-1741	233	39	lockdown	lockdown	NOUN
framr-1741	233	40	restrictions	restriction	NOUN
framr-1741	233	41	.	.	PUNCT
framr-1741	234	1	however	however	ADV
framr-1741	234	2	,	,	PUNCT
framr-1741	234	3	the	the	DET
framr-1741	234	4	downward	downward	ADJ
framr-1741	234	5	trending	trend	VERB
framr-1741	234	6	variance	variance	NOUN
framr-1741	234	7	curve	curve	NOUN
framr-1741	234	8	during	during	ADP
framr-1741	234	9	the	the	DET
framr-1741	234	10	trading	trading	NOUN
framr-1741	234	11	days	day	NOUN
framr-1741	234	12	in	in	ADP
framr-1741	234	13	the	the	DET
framr-1741	234	14	third	third	ADJ
framr-1741	234	15	quarter	quarter	NOUN
framr-1741	234	16	of	of	ADP
framr-1741	234	17	2020	2020	NUM
framr-1741	234	18	is	be	AUX
framr-1741	234	19	due	due	ADJ
framr-1741	234	20	to	to	ADP
framr-1741	234	21	the	the	DET
framr-1741	234	22	easing	easing	NOUN
framr-1741	234	23	of	of	ADP
framr-1741	234	24	covid-19	covid-19	PROPN
framr-1741	234	25	lockdown	lockdown	NOUN
framr-1741	234	26	restrictions	restriction	NOUN
framr-1741	234	27	across	across	ADP
framr-1741	234	28	the	the	DET
framr-1741	234	29	world	world	NOUN
framr-1741	234	30	.	.	PUNCT
framr-1741	235	1	.0	.0	NUM
framr-1741	236	1	.1	.1	NUM
framr-1741	237	1	.2	.2	NUM
framr-1741	237	2	.3	.3	NUM
framr-1741	237	3	.4	.4	NUM
framr-1741	237	4	.5	.5	NUM
framr-1741	238	1	.6	.6	NUM
framr-1741	239	1	.7	.7	PROPN
framr-1741	239	2	.8	.8	PROPN
framr-1741	240	1	.9	.9	NUM
framr-1741	240	2	2010	2010	NUM
framr-1741	240	3	2011	2011	NUM
framr-1741	240	4	2012	2012	NUM
framr-1741	240	5	2013	2013	NUM
framr-1741	240	6	2014	2014	NUM
framr-1741	240	7	2015	2015	NUM
framr-1741	240	8	2016	2016	NUM
framr-1741	240	9	2017	2017	NUM
framr-1741	240	10	2018	2018	NUM
framr-1741	240	11	2019	2019	NUM
framr-1741	240	12	2020	2020	NUM
framr-1741	240	13	conditional	conditional	ADJ
framr-1741	240	14	variance	variance	NOUN
framr-1741	240	15	figure-4	figure-4	PROPN
framr-1741	240	16	.	.	PUNCT
framr-1741	241	1	conditional	conditional	ADJ
framr-1741	241	2	variance	variance	NOUN
framr-1741	241	3	of	of	ADP
framr-1741	241	4	the	the	DET
framr-1741	241	5	r_spg	r_spg	ADJ
framr-1741	241	6	series	series	NOUN
framr-1741	241	7	.	.	PUNCT
framr-1741	242	1	in	in	ADP
framr-1741	242	2	a	a	DET
framr-1741	242	3	bid	bid	NOUN
framr-1741	242	4	to	to	PART
framr-1741	242	5	capture	capture	VERB
framr-1741	242	6	the	the	DET
framr-1741	242	7	asymmetries	asymmetry	NOUN
framr-1741	242	8	in	in	ADP
framr-1741	242	9	the	the	DET
framr-1741	242	10	r_spg	r_spg	NOUN
framr-1741	242	11	series	series	NOUN
framr-1741	242	12	,	,	PUNCT
framr-1741	242	13	the	the	DET
framr-1741	242	14	egarch	egarch	NOUN
framr-1741	242	15	and	and	CCONJ
framr-1741	242	16	tgarch	tgarch	NOUN
framr-1741	242	17	models	model	NOUN
framr-1741	242	18	were	be	AUX
framr-1741	242	19	estimated	estimate	VERB
framr-1741	242	20	as	as	SCONJ
framr-1741	242	21	reported	report	VERB
framr-1741	242	22	in	in	ADP
framr-1741	242	23	table	table	NOUN
framr-1741	242	24	4	4	NUM
framr-1741	242	25	.	.	PUNCT
framr-1741	243	1	table-4	table-4	NOUN
framr-1741	243	2	.	.	PUNCT
framr-1741	244	1	estimated	estimate	VERB
framr-1741	244	2	result	result	NOUN
framr-1741	244	3	of	of	ADP
framr-1741	244	4	egarch	egarch	NOUN
framr-1741	244	5	(	(	PUNCT
framr-1741	244	6	1,1	1,1	NUM
framr-1741	244	7	)	)	PUNCT
framr-1741	244	8	and	and	CCONJ
framr-1741	244	9	tgarch	tgarch	NOUN
framr-1741	244	10	(	(	PUNCT
framr-1741	244	11	1,1	1,1	NUM
framr-1741	244	12	)	)	PUNCT
framr-1741	244	13	models	model	NOUN
framr-1741	244	14	.	.	PUNCT
framr-1741	245	1	parameters	parameter	NOUN
framr-1741	245	2	egarch	egarch	VERB
framr-1741	245	3	(	(	PUNCT
framr-1741	245	4	1,1	1,1	NUM
framr-1741	245	5	)	)	PUNCT
framr-1741	245	6	tgarch	tgarch	NOUN
framr-1741	245	7	(	(	PUNCT
framr-1741	245	8	1,1	1,1	NUM
framr-1741	245	9	)	)	PUNCT
framr-1741	246	1	mean	mean	NOUN
framr-1741	246	2	equation	equation	NOUN
framr-1741	246	3	(	(	PUNCT
framr-1741	246	4	mean	mean	INTJ
framr-1741	246	5	return	return	NOUN
framr-1741	246	6	)	)	PUNCT
framr-1741	247	1	0.003613	0.003613	NUM
framr-1741	247	2	{	{	PUNCT
framr-1741	247	3	0.0180	0.0180	NUM
framr-1741	247	4	}	}	PUNCT
framr-1741	247	5	*	*	NOUN
framr-1741	247	6	*	*	PUNCT
framr-1741	247	7	0.004534	0.004534	NUM
framr-1741	247	8	{	{	PUNCT
framr-1741	247	9	0.0056	0.0056	NUM
framr-1741	247	10	}	}	PUNCT
framr-1741	247	11	*	*	PUNCT
framr-1741	247	12	*	*	PUNCT
framr-1741	247	13	*	*	PUNCT
framr-1741	247	14	variance	variance	NOUN
framr-1741	247	15	equation	equation	NOUN
framr-1741	247	16	(	(	PUNCT
framr-1741	247	17	constant	constant	ADJ
framr-1741	247	18	)	)	PUNCT
framr-1741	247	19	-0.347425	-0.347425	NOUN
framr-1741	247	20	{	{	PUNCT
framr-1741	247	21	0.0000	0.0000	NUM
framr-1741	247	22	}	}	PUNCT
framr-1741	247	23	*	*	PUNCT
framr-1741	247	24	*	*	PUNCT
framr-1741	247	25	*	*	PUNCT
framr-1741	247	26	0.000353	0.000353	NUM
framr-1741	247	27	{	{	PUNCT
framr-1741	247	28	0.0000	0.0000	NUM
framr-1741	247	29	}	}	PUNCT
framr-1741	247	30	*	*	PUNCT
framr-1741	247	31	*	*	PUNCT
framr-1741	247	32	*	*	PUNCT
framr-1741	247	33	(	(	PUNCT
framr-1741	247	34	arch	arch	ADJ
framr-1741	247	35	effect	effect	NOUN
framr-1741	247	36	)	)	PUNCT
framr-1741	247	37	0.247916	0.247916	NUM
framr-1741	247	38	{	{	PUNCT
framr-1741	247	39	0.0000	0.0000	NUM
framr-1741	247	40	}	}	PUNCT
framr-1741	247	41	*	*	PUNCT
framr-1741	247	42	*	*	PUNCT
framr-1741	247	43	*	*	PUNCT
framr-1741	247	44	0.075499	0.075499	NUM
framr-1741	247	45	{	{	PUNCT
framr-1741	247	46	0.0000	0.0000	NUM
framr-1741	247	47	}	}	PUNCT
framr-1741	247	48	*	*	PUNCT
framr-1741	247	49	*	*	PUNCT
framr-1741	247	50	*	*	PUNCT
framr-1741	247	51	(	(	PUNCT
framr-1741	247	52	asymmetric	asymmetric	ADJ
framr-1741	247	53	effect	effect	NOUN
framr-1741	247	54	)	)	PUNCT
framr-1741	247	55	-0.129350	-0.129350	NOUN
framr-1741	247	56	{	{	PUNCT
framr-1741	247	57	0.0000	0.0000	NUM
framr-1741	247	58	}	}	PUNCT
framr-1741	247	59	*	*	PUNCT
framr-1741	247	60	*	*	PUNCT
framr-1741	247	61	*	*	PUNCT
framr-1741	247	62	0.192600	0.192600	NUM
framr-1741	247	63	{	{	PUNCT
framr-1741	247	64	0.0000	0.0000	NUM
framr-1741	247	65	}	}	PUNCT
framr-1741	247	66	*	*	PUNCT
framr-1741	247	67	*	*	PUNCT
framr-1741	247	68	*	*	PUNCT
framr-1741	247	69	(	(	PUNCT
framr-1741	247	70	garch	garch	NOUN
framr-1741	247	71	effect	effect	NOUN
framr-1741	247	72	)	)	PUNCT
framr-1741	247	73	0.965908	0.965908	NUM
framr-1741	247	74	{	{	PUNCT
framr-1741	247	75	0.0000	0.0000	NUM
framr-1741	247	76	}	}	PUNCT
framr-1741	247	77	*	*	PUNCT
framr-1741	247	78	*	*	PUNCT
framr-1741	247	79	*	*	PUNCT
framr-1741	247	80	0.810012	0.810012	NUM
framr-1741	247	81	{	{	PUNCT
framr-1741	247	82	0.0000	0.0000	NUM
framr-1741	247	83	}	}	PUNCT
framr-1741	247	84	*	*	PUNCT
framr-1741	247	85	*	*	PUNCT
framr-1741	247	86	*	*	PUNCT
framr-1741	247	87	(	(	PUNCT
framr-1741	247	88	persistence	persistence	NOUN
framr-1741	247	89	coefficient	coefficient	NOUN
framr-1741	247	90	)	)	PUNCT
framr-1741	247	91	1.213824	1.213824	NUM
framr-1741	247	92	0.985511	0.985511	NUM
framr-1741	247	93	log	log	NOUN
framr-1741	247	94	likelihood	likelihood	NOUN
framr-1741	247	95	2474.041	2474.041	NUM
framr-1741	247	96	2459.418	2459.418	NUM
framr-1741	247	97	aic	aic	PROPN
framr-1741	247	98	-1.881846	-1.881846	PROPN
framr-1741	247	99	-1.870696	-1.870696	PROPN
framr-1741	247	100	sic	sic	PROPN
framr-1741	247	101	-1.868414	-1.868414	NOUN
framr-1741	247	102	-1.857264	-1.857264	NOUN
framr-1741	247	103	adjusted	adjust	VERB
framr-1741	247	104	r	r	NOUN
framr-1741	247	105	-	-	PUNCT
framr-1741	247	106	squared	square	VERB
framr-1741	247	107	-0.005529	-0.005529	NOUN
framr-1741	247	108	-0.006363	-0.006363	VERB
framr-1741	247	109	residual	residual	ADJ
framr-1741	247	110	diagnostics	diagnostic	NOUN
framr-1741	247	111	:	:	PUNCT
framr-1741	247	112	autocorrelation	autocorrelation	NOUN
framr-1741	247	113	(	(	PUNCT
framr-1741	247	114	q	q	ADJ
framr-1741	247	115	-	-	PUNCT
framr-1741	247	116	statistic	statistic	ADJ
framr-1741	247	117	probabilities	probability	NOUN
framr-1741	247	118	)	)	PUNCT
framr-1741	247	119	q	q	NOUN
framr-1741	248	1	>	>	X
framr-1741	248	2	0.05	0.05	NUM
framr-1741	248	3	(	(	PUNCT
framr-1741	248	4	no	no	DET
framr-1741	248	5	autocorrelation	autocorrelation	NOUN
framr-1741	248	6	)	)	PUNCT
framr-1741	248	7	q	q	NOUN
framr-1741	249	1	>	>	X
framr-1741	249	2	0.05	0.05	NUM
framr-1741	249	3	(	(	PUNCT
framr-1741	249	4	no	no	DET
framr-1741	249	5	autocorrelation	autocorrelation	NOUN
framr-1741	249	6	)	)	PUNCT
framr-1741	249	7	heteroscedasticity	heteroscedasticity	NOUN
framr-1741	249	8	:	:	PUNCT
framr-1741	249	9	f	f	X
framr-1741	249	10	-	-	PUNCT
framr-1741	249	11	statistic	statistic	NOUN
framr-1741	249	12	0.037119	0.037119	NUM
framr-1741	249	13	{	{	PUNCT
framr-1741	249	14	0.8472	0.8472	NUM
framr-1741	249	15	}	}	PUNCT
framr-1741	249	16	0.831677	0.831677	NUM
framr-1741	249	17	{	{	PUNCT
framr-1741	249	18	0.3619	0.3619	NUM
framr-1741	249	19	}	}	PUNCT
framr-1741	249	20	note	note	NOUN
framr-1741	249	21	:	:	PUNCT
framr-1741	249	22	*	*	PUNCT
framr-1741	249	23	*	*	PUNCT
framr-1741	249	24	and	and	CCONJ
framr-1741	249	25	*	*	PUNCT
framr-1741	249	26	*	*	PUNCT
framr-1741	249	27	*	*	PUNCT
framr-1741	249	28	indicate	indicate	VERB
framr-1741	249	29	rejection	rejection	NOUN
framr-1741	249	30	of	of	ADP
framr-1741	249	31	the	the	DET
framr-1741	249	32	null	null	ADJ
framr-1741	249	33	hypothesis	hypothesis	NOUN
framr-1741	249	34	@	@	ADP
framr-1741	249	35	5	5	NUM
framr-1741	249	36	%	%	NOUN
framr-1741	249	37	,	,	PUNCT
framr-1741	249	38	and	and	CCONJ
framr-1741	249	39	1	1	NUM
framr-1741	249	40	%	%	NOUN
framr-1741	249	41	levels	level	NOUN
framr-1741	249	42	of	of	ADP
framr-1741	249	43	significance	significance	NOUN
framr-1741	249	44	,	,	PUNCT
framr-1741	249	45	respectively	respectively	ADV
framr-1741	249	46	.	.	PUNCT
framr-1741	250	1	figures	figure	NOUN
framr-1741	250	2	in	in	ADP
framr-1741	250	3	parenthesis	parenthesis	NOUN
framr-1741	250	4	{	{	PUNCT
framr-1741	250	5	}	}	PUNCT
framr-1741	250	6	are	be	AUX
framr-1741	250	7	the	the	DET
framr-1741	250	8	probability	probability	NOUN
framr-1741	250	9	values	value	NOUN
framr-1741	250	10	.	.	PUNCT
framr-1741	251	1	financial	financial	ADJ
framr-1741	251	2	risk	risk	NOUN
framr-1741	251	3	and	and	CCONJ
framr-1741	251	4	management	management	NOUN
framr-1741	251	5	reviews	review	NOUN
framr-1741	251	6	,	,	PUNCT
framr-1741	251	7	2021	2021	NUM
framr-1741	251	8	,	,	PUNCT
framr-1741	251	9	7(1	7(1	NUM
framr-1741	251	10	):	):	PUNCT
framr-1741	251	11	1	1	NUM
framr-1741	251	12	-	-	SYM
framr-1741	251	13	15	15	NUM
framr-1741	251	14	12	12	NUM
framr-1741	251	15	©	©	PROPN
framr-1741	251	16	2021	2021	NUM
framr-1741	251	17	conscientia	conscientia	PROPN
framr-1741	251	18	beam	beam	PROPN
framr-1741	251	19	.	.	PUNCT
framr-1741	252	1	all	all	DET
framr-1741	252	2	rights	right	NOUN
framr-1741	252	3	reserved	reserve	VERB
framr-1741	252	4	.	.	PUNCT
framr-1741	253	1	from	from	ADP
framr-1741	253	2	table	table	NOUN
framr-1741	253	3	4	4	NUM
framr-1741	253	4	above	above	ADV
framr-1741	253	5	,	,	PUNCT
framr-1741	253	6	it	it	PRON
framr-1741	253	7	can	can	AUX
framr-1741	253	8	be	be	AUX
framr-1741	253	9	seen	see	VERB
framr-1741	253	10	that	that	SCONJ
framr-1741	253	11	the	the	DET
framr-1741	253	12	tgarch	tgarch	NOUN
framr-1741	253	13	emerged	emerge	VERB
framr-1741	253	14	with	with	ADP
framr-1741	253	15	the	the	DET
framr-1741	253	16	lowest	low	ADJ
framr-1741	253	17	aic	aic	PROPN
framr-1741	253	18	and	and	CCONJ
framr-1741	253	19	sic	sic	ADJ
framr-1741	253	20	as	as	ADV
framr-1741	253	21	well	well	ADV
framr-1741	253	22	as	as	ADP
framr-1741	253	23	the	the	DET
framr-1741	253	24	highest	high	ADJ
framr-1741	253	25	adjusted	adjust	VERB
framr-1741	253	26	r	r	NOUN
framr-1741	253	27	-	-	PUNCT
framr-1741	253	28	squared	square	VERB
framr-1741	253	29	in	in	ADP
framr-1741	253	30	absolute	absolute	ADJ
framr-1741	253	31	value	value	NOUN
framr-1741	253	32	.	.	PUNCT
framr-1741	254	1	hence	hence	ADV
framr-1741	254	2	,	,	PUNCT
framr-1741	254	3	the	the	DET
framr-1741	254	4	tgarch	tgarch	NOUN
framr-1741	254	5	was	be	AUX
framr-1741	254	6	chosen	choose	VERB
framr-1741	254	7	as	as	ADP
framr-1741	254	8	the	the	DET
framr-1741	254	9	best	good	ADJ
framr-1741	254	10	fit	fit	ADJ
framr-1741	254	11	model	model	NOUN
framr-1741	254	12	.	.	PUNCT
framr-1741	255	1	looking	look	VERB
framr-1741	255	2	at	at	ADP
framr-1741	255	3	the	the	DET
framr-1741	255	4	tgarch	tgarch	NOUN
framr-1741	255	5	estimates	estimate	NOUN
framr-1741	255	6	,	,	PUNCT
framr-1741	255	7	the	the	DET
framr-1741	255	8	coefficients	coefficient	NOUN
framr-1741	255	9	of	of	ADP
framr-1741	255	10	α	α	PROPN
framr-1741	255	11	and	and	CCONJ
framr-1741	255	12	β	β	X
framr-1741	255	13	are	be	AUX
framr-1741	255	14	statistically	statistically	ADV
framr-1741	255	15	significant	significant	ADJ
framr-1741	255	16	at	at	ADP
framr-1741	255	17	1	1	NUM
framr-1741	255	18	%	%	NOUN
framr-1741	255	19	level	level	NOUN
framr-1741	255	20	.	.	PUNCT
framr-1741	256	1	the	the	DET
framr-1741	256	2	sum	sum	NOUN
framr-1741	256	3	of	of	ADP
framr-1741	256	4	the	the	DET
framr-1741	256	5	arch	arch	NOUN
framr-1741	256	6	(	(	PUNCT
framr-1741	256	7	α	α	NOUN
framr-1741	256	8	)	)	PUNCT
framr-1741	256	9	and	and	CCONJ
framr-1741	256	10	garch	garch	NOUN
framr-1741	256	11	(	(	PUNCT
framr-1741	256	12	β	β	NOUN
framr-1741	256	13	)	)	PUNCT
framr-1741	256	14	parameters	parameter	NOUN
framr-1741	256	15	is	be	AUX
framr-1741	256	16	0.985511	0.985511	NUM
framr-1741	256	17	which	which	PRON
framr-1741	256	18	is	be	AUX
framr-1741	256	19	approximately	approximately	ADV
framr-1741	256	20	unity	unity	NOUN
framr-1741	256	21	(	(	PUNCT
framr-1741	256	22	1	1	NUM
framr-1741	256	23	)	)	PUNCT
framr-1741	256	24	,	,	PUNCT
framr-1741	256	25	implying	imply	VERB
framr-1741	256	26	that	that	SCONJ
framr-1741	256	27	conditional	conditional	ADJ
framr-1741	256	28	variance	variance	NOUN
framr-1741	256	29	(	(	PUNCT
framr-1741	256	30	volatility	volatility	NOUN
framr-1741	256	31	)	)	PUNCT
framr-1741	256	32	was	be	AUX
framr-1741	256	33	explosive	explosive	ADJ
framr-1741	256	34	.	.	PUNCT
framr-1741	257	1	the	the	DET
framr-1741	257	2	leverage	leverage	NOUN
framr-1741	257	3	effect	effect	NOUN
framr-1741	257	4	coefficient	coefficient	NOUN
framr-1741	257	5	is	be	AUX
framr-1741	257	6	positive	positive	ADJ
framr-1741	257	7	and	and	CCONJ
framr-1741	257	8	statistically	statistically	ADV
framr-1741	257	9	significant	significant	ADJ
framr-1741	257	10	at	at	ADP
framr-1741	257	11	1	1	NUM
framr-1741	257	12	%	%	NOUN
framr-1741	257	13	level	level	NOUN
framr-1741	257	14	,	,	PUNCT
framr-1741	257	15	which	which	PRON
framr-1741	257	16	indicates	indicate	VERB
framr-1741	257	17	that	that	SCONJ
framr-1741	257	18	bad	bad	ADJ
framr-1741	257	19	news	news	NOUN
framr-1741	257	20	or	or	CCONJ
framr-1741	257	21	negative	negative	ADJ
framr-1741	257	22	shocks	shock	NOUN
framr-1741	257	23	exert	exert	VERB
framr-1741	257	24	greater	great	ADJ
framr-1741	257	25	influence	influence	NOUN
framr-1741	257	26	on	on	ADP
framr-1741	257	27	volatility	volatility	NOUN
framr-1741	257	28	of	of	ADP
framr-1741	257	29	r_spg	r_spg	ADP
framr-1741	257	30	than	than	ADP
framr-1741	257	31	good	good	ADJ
framr-1741	257	32	news	news	NOUN
framr-1741	257	33	which	which	PRON
framr-1741	257	34	provides	provide	VERB
framr-1741	257	35	evidence	evidence	NOUN
framr-1741	257	36	of	of	ADP
framr-1741	257	37	leverage	leverage	NOUN
framr-1741	257	38	effect	effect	NOUN
framr-1741	257	39	.	.	PUNCT
framr-1741	258	1	this	this	PRON
framr-1741	258	2	implies	imply	VERB
framr-1741	258	3	that	that	SCONJ
framr-1741	258	4	the	the	DET
framr-1741	258	5	global	global	ADJ
framr-1741	258	6	stock	stock	NOUN
framr-1741	258	7	market	market	NOUN
framr-1741	258	8	exhibited	exhibit	VERB
framr-1741	258	9	persistent	persistent	ADJ
framr-1741	258	10	returns	return	NOUN
framr-1741	258	11	volatility	volatility	NOUN
framr-1741	258	12	with	with	ADP
framr-1741	258	13	leverage	leverage	NOUN
framr-1741	258	14	effects	effect	NOUN
framr-1741	258	15	(	(	PUNCT
framr-1741	258	16	asymmetric	asymmetric	ADJ
framr-1741	258	17	news	news	NOUN
framr-1741	258	18	effects	effect	NOUN
framr-1741	258	19	)	)	PUNCT
framr-1741	258	20	.	.	PUNCT
framr-1741	259	1	studies	study	NOUN
framr-1741	259	2	such	such	ADJ
framr-1741	259	3	as	as	ADP
framr-1741	259	4	edem	edem	PROPN
framr-1741	259	5	and	and	CCONJ
framr-1741	259	6	ogbonna	ogbonna	NOUN
framr-1741	259	7	(	(	PUNCT
framr-1741	259	8	2020	2020	NUM
framr-1741	259	9	)	)	PUNCT
framr-1741	259	10	;	;	PUNCT
framr-1741	259	11	ndei	ndei	NOUN
framr-1741	259	12	et	et	PROPN
framr-1741	259	13	al	al	PROPN
framr-1741	259	14	.	.	PROPN
framr-1741	260	1	(	(	PUNCT
framr-1741	260	2	2019	2019	NUM
framr-1741	260	3	)	)	PUNCT
framr-1741	260	4	;	;	PUNCT
framr-1741	260	5	tsuji	tsuji	PROPN
framr-1741	260	6	(	(	PUNCT
framr-1741	260	7	2018	2018	NUM
framr-1741	260	8	)	)	PUNCT
framr-1741	260	9	;	;	PUNCT
framr-1741	260	10	banumathy	banumathy	ADJ
framr-1741	260	11	and	and	CCONJ
framr-1741	260	12	azhagaiah	azhagaiah	PROPN
framr-1741	260	13	(	(	PUNCT
framr-1741	260	14	2015	2015	NUM
framr-1741	260	15	)	)	PUNCT
framr-1741	260	16	;	;	PUNCT
framr-1741	260	17	jegageevan	jegageevan	NOUN
framr-1741	260	18	(	(	PUNCT
framr-1741	260	19	2015	2015	NUM
framr-1741	260	20	)	)	PUNCT
framr-1741	260	21	lend	lend	VERB
framr-1741	260	22	credence	credence	NOUN
framr-1741	260	23	to	to	ADP
framr-1741	260	24	the	the	DET
framr-1741	260	25	existence	existence	NOUN
framr-1741	260	26	of	of	ADP
framr-1741	260	27	volatility	volatility	NOUN
framr-1741	260	28	persistence	persistence	NOUN
framr-1741	260	29	and	and	CCONJ
framr-1741	260	30	leverage	leverage	NOUN
framr-1741	260	31	effects	effect	NOUN
framr-1741	260	32	in	in	ADP
framr-1741	260	33	various	various	ADJ
framr-1741	260	34	stock	stock	NOUN
framr-1741	260	35	markets	market	NOUN
framr-1741	260	36	,	,	PUNCT
framr-1741	260	37	but	but	CCONJ
framr-1741	260	38	adewale	adewale	PROPN
framr-1741	260	39	et	et	PROPN
framr-1741	260	40	al	al	PROPN
framr-1741	260	41	.	.	PROPN
framr-1741	261	1	(	(	PUNCT
framr-1741	261	2	2016	2016	NUM
framr-1741	261	3	)	)	PUNCT
framr-1741	261	4	found	find	VERB
framr-1741	261	5	no	no	DET
framr-1741	261	6	significant	significant	ADJ
framr-1741	261	7	leverage	leverage	NOUN
framr-1741	261	8	effect	effect	NOUN
framr-1741	261	9	in	in	ADP
framr-1741	261	10	the	the	DET
framr-1741	261	11	nigerian	nigerian	ADJ
framr-1741	261	12	stock	stock	NOUN
framr-1741	261	13	market	market	NOUN
framr-1741	261	14	.	.	PUNCT
framr-1741	262	1	5	5	X
framr-1741	262	2	.	.	X
framr-1741	262	3	conclusion	conclusion	NOUN
framr-1741	262	4	and	and	CCONJ
framr-1741	262	5	recommendations	recommendation	NOUN
framr-1741	262	6	this	this	DET
framr-1741	262	7	study	study	NOUN
framr-1741	262	8	modelled	model	VERB
framr-1741	262	9	stock	stock	NOUN
framr-1741	262	10	returns	return	NOUN
framr-1741	262	11	volatility	volatility	NOUN
framr-1741	262	12	and	and	CCONJ
framr-1741	262	13	asymmetric	asymmetric	ADJ
framr-1741	262	14	news	news	NOUN
framr-1741	262	15	effect	effect	NOUN
framr-1741	262	16	in	in	ADP
framr-1741	262	17	the	the	DET
framr-1741	262	18	global	global	ADJ
framr-1741	262	19	stock	stock	NOUN
framr-1741	262	20	market	market	NOUN
framr-1741	262	21	over	over	ADP
framr-1741	262	22	the	the	DET
framr-1741	262	23	period	period	NOUN
framr-1741	262	24	1st	1st	PROPN
framr-1741	262	25	sept	sept	PROPN
framr-1741	262	26	.	.	PROPN
framr-1741	262	27	,	,	PUNCT
framr-1741	262	28	2010	2010	NUM
framr-1741	262	29	to	to	ADP
framr-1741	262	30	30th	30th	NUM
framr-1741	262	31	sept	sept	PROPN
framr-1741	262	32	.	.	PROPN
framr-1741	262	33	,	,	PUNCT
framr-1741	262	34	2020	2020	NUM
framr-1741	262	35	.	.	PUNCT
framr-1741	263	1	the	the	DET
framr-1741	263	2	global	global	ADJ
framr-1741	263	3	stock	stock	PROPN
framr-1741	263	4	market	market	NOUN
framr-1741	263	5	index	index	NOUN
framr-1741	263	6	was	be	AUX
framr-1741	263	7	measured	measure	VERB
framr-1741	263	8	by	by	ADP
framr-1741	263	9	the	the	DET
framr-1741	263	10	s&p	s&p	PROPN
framr-1741	263	11	global	global	ADJ
framr-1741	263	12	1200	1200	NUM
framr-1741	263	13	(	(	PUNCT
framr-1741	263	14	see	see	VERB
framr-1741	263	15	description	description	NOUN
framr-1741	263	16	in	in	ADP
framr-1741	263	17	table	table	NOUN
framr-1741	263	18	1	1	NUM
framr-1741	263	19	)	)	PUNCT
framr-1741	263	20	.	.	PUNCT
framr-1741	264	1	generalized	generalize	VERB
framr-1741	264	2	arch	arch	ADJ
framr-1741	264	3	models	model	NOUN
framr-1741	264	4	such	such	ADJ
framr-1741	264	5	as	as	ADP
framr-1741	264	6	garch	garch	NOUN
framr-1741	264	7	(	(	PUNCT
framr-1741	264	8	1,1	1,1	NUM
framr-1741	264	9	)	)	PUNCT
framr-1741	264	10	,	,	PUNCT
framr-1741	264	11	garch	garch	NOUN
framr-1741	264	12	-	-	PUNCT
framr-1741	264	13	m	m	PROPN
framr-1741	264	14	(	(	PUNCT
framr-1741	264	15	1,1	1,1	NUM
framr-1741	264	16	)	)	PUNCT
framr-1741	264	17	,	,	PUNCT
framr-1741	264	18	egarch	egarch	NOUN
framr-1741	264	19	(	(	PUNCT
framr-1741	264	20	1,1	1,1	NUM
framr-1741	264	21	)	)	PUNCT
framr-1741	264	22	and	and	CCONJ
framr-1741	264	23	tgarch	tgarch	NOUN
framr-1741	264	24	(	(	PUNCT
framr-1741	264	25	1,1	1,1	NUM
framr-1741	264	26	)	)	PUNCT
framr-1741	264	27	were	be	AUX
framr-1741	264	28	estimated	estimate	VERB
framr-1741	264	29	for	for	ADP
framr-1741	264	30	the	the	DET
framr-1741	264	31	empirical	empirical	ADJ
framr-1741	264	32	investigation	investigation	NOUN
framr-1741	264	33	.	.	PUNCT
framr-1741	265	1	however	however	ADV
framr-1741	265	2	,	,	PUNCT
framr-1741	265	3	the	the	DET
framr-1741	265	4	symmetric	symmetric	ADJ
framr-1741	265	5	garch	garch	NOUN
framr-1741	265	6	-	-	PUNCT
framr-1741	265	7	m	m	PROPN
framr-1741	265	8	(	(	PUNCT
framr-1741	265	9	1,1	1,1	NUM
framr-1741	265	10	)	)	PUNCT
framr-1741	265	11	and	and	CCONJ
framr-1741	265	12	asymmetric	asymmetric	ADJ
framr-1741	265	13	tgarch	tgarch	PROPN
framr-1741	265	14	(	(	PUNCT
framr-1741	265	15	1,1	1,1	NUM
framr-1741	265	16	)	)	PUNCT
framr-1741	265	17	best	well	ADV
framr-1741	265	18	fit	fit	VERB
framr-1741	265	19	the	the	DET
framr-1741	265	20	estimation	estimation	NOUN
framr-1741	265	21	when	when	SCONJ
framr-1741	265	22	compared	compare	VERB
framr-1741	265	23	to	to	ADP
framr-1741	265	24	other	other	ADJ
framr-1741	265	25	variants	variant	NOUN
framr-1741	265	26	of	of	ADP
framr-1741	265	27	garch	garch	NOUN
framr-1741	265	28	model	model	NOUN
framr-1741	265	29	.	.	PUNCT
framr-1741	266	1	from	from	ADP
framr-1741	266	2	the	the	DET
framr-1741	266	3	estimation	estimation	NOUN
framr-1741	266	4	results	result	NOUN
framr-1741	266	5	,	,	PUNCT
framr-1741	266	6	it	it	PRON
framr-1741	266	7	was	be	AUX
framr-1741	266	8	found	find	VERB
framr-1741	266	9	that	that	SCONJ
framr-1741	266	10	volatility	volatility	NOUN
framr-1741	266	11	of	of	ADP
framr-1741	266	12	r_spg	r_spg	PROPN
framr-1741	266	13	was	be	AUX
framr-1741	266	14	highly	highly	ADV
framr-1741	266	15	persistent	persistent	ADJ
framr-1741	266	16	.	.	PUNCT
framr-1741	267	1	though	though	ADV
framr-1741	267	2	,	,	PUNCT
framr-1741	267	3	the	the	DET
framr-1741	267	4	estimation	estimation	NOUN
framr-1741	267	5	results	result	NOUN
framr-1741	267	6	of	of	ADP
framr-1741	267	7	garch	garch	NOUN
framr-1741	267	8	-	-	PUNCT
framr-1741	267	9	m	m	PROPN
framr-1741	267	10	(	(	PUNCT
framr-1741	267	11	1,1	1,1	NUM
framr-1741	267	12	)	)	PUNCT
framr-1741	267	13	showed	show	VERB
framr-1741	267	14	that	that	SCONJ
framr-1741	267	15	higher	high	ADJ
framr-1741	267	16	volatility	volatility	NOUN
framr-1741	267	17	did	do	AUX
framr-1741	267	18	not	not	PART
framr-1741	267	19	result	result	VERB
framr-1741	267	20	to	to	ADP
framr-1741	267	21	higher	high	ADJ
framr-1741	267	22	r_spg	r_spg	ADP
framr-1741	267	23	,	,	PUNCT
framr-1741	267	24	implying	implying	ADJ
framr-1741	267	25	lack	lack	NOUN
framr-1741	267	26	of	of	ADP
framr-1741	267	27	risk	risk	NOUN
framr-1741	267	28	-	-	PUNCT
framr-1741	267	29	return	return	NOUN
framr-1741	267	30	tradeoff	tradeoff	NOUN
framr-1741	267	31	.	.	PUNCT
framr-1741	268	1	on	on	ADP
framr-1741	268	2	the	the	DET
framr-1741	268	3	other	other	ADJ
framr-1741	268	4	hand	hand	NOUN
framr-1741	268	5	,	,	PUNCT
framr-1741	268	6	the	the	DET
framr-1741	268	7	tgarch	tgarch	NOUN
framr-1741	268	8	(	(	PUNCT
framr-1741	268	9	1,1	1,1	NUM
framr-1741	268	10	)	)	PUNCT
framr-1741	268	11	confirmed	confirm	VERB
framr-1741	268	12	evidence	evidence	NOUN
framr-1741	268	13	of	of	ADP
framr-1741	268	14	asymmetric	asymmetric	ADJ
framr-1741	268	15	volatility	volatility	NOUN
framr-1741	268	16	process	process	NOUN
framr-1741	268	17	in	in	ADP
framr-1741	268	18	the	the	DET
framr-1741	268	19	global	global	ADJ
framr-1741	268	20	stock	stock	NOUN
framr-1741	268	21	market	market	NOUN
framr-1741	268	22	,	,	PUNCT
framr-1741	268	23	implying	imply	VERB
framr-1741	268	24	presence	presence	NOUN
framr-1741	268	25	of	of	ADP
framr-1741	268	26	leverage	leverage	NOUN
framr-1741	268	27	effect	effect	NOUN
framr-1741	268	28	where	where	SCONJ
framr-1741	268	29	bad	bad	ADJ
framr-1741	268	30	news	news	NOUN
framr-1741	268	31	influenced	influence	VERB
framr-1741	268	32	r_spg	r_spg	ADP
framr-1741	268	33	volatility	volatility	NOUN
framr-1741	268	34	more	more	ADJ
framr-1741	268	35	than	than	ADP
framr-1741	268	36	good	good	ADJ
framr-1741	268	37	news	news	NOUN
framr-1741	268	38	.	.	PUNCT
framr-1741	269	1	in	in	ADP
framr-1741	269	2	summary	summary	NOUN
framr-1741	269	3	,	,	PUNCT
framr-1741	269	4	the	the	DET
framr-1741	269	5	empirical	empirical	ADJ
framr-1741	269	6	results	result	NOUN
framr-1741	269	7	significantly	significantly	ADV
framr-1741	269	8	suggest	suggest	VERB
framr-1741	269	9	that	that	SCONJ
framr-1741	269	10	stock	stock	NOUN
framr-1741	269	11	returns	return	VERB
framr-1741	269	12	volatility	volatility	NOUN
framr-1741	269	13	in	in	ADP
framr-1741	269	14	the	the	DET
framr-1741	269	15	global	global	ADJ
framr-1741	269	16	market	market	NOUN
framr-1741	269	17	persisted	persist	VERB
framr-1741	269	18	over	over	ADP
framr-1741	269	19	a	a	DET
framr-1741	269	20	long	long	ADJ
framr-1741	269	21	period	period	NOUN
framr-1741	269	22	with	with	ADP
framr-1741	269	23	no	no	DET
framr-1741	269	24	significant	significant	ADJ
framr-1741	269	25	risk	risk	NOUN
framr-1741	269	26	-	-	PUNCT
framr-1741	269	27	return	return	NOUN
framr-1741	269	28	trade	trade	NOUN
framr-1741	269	29	off	off	ADP
framr-1741	269	30	,	,	PUNCT
framr-1741	269	31	and	and	CCONJ
framr-1741	269	32	that	that	PRON
framr-1741	269	33	negative	negative	ADJ
framr-1741	269	34	shocks	shock	NOUN
framr-1741	269	35	or	or	CCONJ
framr-1741	269	36	bad	bad	ADJ
framr-1741	269	37	news	news	NOUN
framr-1741	269	38	exerted	exert	VERB
framr-1741	269	39	greater	great	ADJ
framr-1741	269	40	effect	effect	NOUN
framr-1741	269	41	on	on	ADP
framr-1741	269	42	global	global	ADJ
framr-1741	269	43	stock	stock	NOUN
framr-1741	269	44	returns	return	NOUN
framr-1741	269	45	volatility	volatility	NOUN
framr-1741	269	46	than	than	ADP
framr-1741	269	47	positive	positive	ADJ
framr-1741	269	48	shocks	shock	NOUN
framr-1741	269	49	or	or	CCONJ
framr-1741	269	50	good	good	ADJ
framr-1741	269	51	news	news	NOUN
framr-1741	269	52	,	,	PUNCT
framr-1741	269	53	especially	especially	ADV
framr-1741	269	54	in	in	ADP
framr-1741	269	55	the	the	DET
framr-1741	269	56	trading	trading	NOUN
framr-1741	269	57	days	day	NOUN
framr-1741	269	58	in	in	ADP
framr-1741	269	59	2020	2020	NUM
framr-1741	269	60	which	which	PRON
framr-1741	269	61	could	could	AUX
framr-1741	269	62	be	be	AUX
framr-1741	269	63	due	due	ADJ
framr-1741	269	64	to	to	ADP
framr-1741	269	65	the	the	DET
framr-1741	269	66	covid-19	covid-19	PROPN
framr-1741	269	67	crisis	crisis	NOUN
framr-1741	269	68	.	.	PUNCT
framr-1741	270	1	based	base	VERB
framr-1741	270	2	on	on	ADP
framr-1741	270	3	the	the	DET
framr-1741	270	4	findings	finding	NOUN
framr-1741	270	5	of	of	ADP
framr-1741	270	6	this	this	DET
framr-1741	270	7	study	study	NOUN
framr-1741	270	8	,	,	PUNCT
framr-1741	270	9	market	market	NOUN
framr-1741	270	10	regulators	regulator	NOUN
framr-1741	270	11	across	across	ADP
framr-1741	270	12	the	the	DET
framr-1741	270	13	globe	globe	NOUN
framr-1741	270	14	need	need	VERB
framr-1741	270	15	to	to	PART
framr-1741	270	16	ensure	ensure	VERB
framr-1741	270	17	market	market	NOUN
framr-1741	270	18	stability	stability	NOUN
framr-1741	270	19	so	so	SCONJ
framr-1741	270	20	as	as	SCONJ
framr-1741	270	21	to	to	PART
framr-1741	270	22	accommodate	accommodate	VERB
framr-1741	270	23	diverse	diverse	ADJ
framr-1741	270	24	risk	risk	NOUN
framr-1741	270	25	-	-	PUNCT
framr-1741	270	26	classes	class	NOUN
framr-1741	270	27	of	of	ADP
framr-1741	270	28	international	international	ADJ
framr-1741	270	29	investors	investor	NOUN
framr-1741	270	30	by	by	ADP
framr-1741	270	31	modelling	model	VERB
framr-1741	270	32	and	and	CCONJ
framr-1741	270	33	aligning	align	VERB
framr-1741	270	34	trading	trading	NOUN
framr-1741	270	35	rules	rule	NOUN
framr-1741	270	36	and	and	CCONJ
framr-1741	270	37	regulations	regulation	NOUN
framr-1741	270	38	of	of	ADP
framr-1741	270	39	both	both	PRON
framr-1741	270	40	developed	develop	VERB
framr-1741	270	41	and	and	CCONJ
framr-1741	270	42	emerging	emerge	VERB
framr-1741	270	43	stock	stock	NOUN
framr-1741	270	44	markets	market	NOUN
framr-1741	270	45	since	since	SCONJ
framr-1741	270	46	these	these	DET
framr-1741	270	47	markets	market	NOUN
framr-1741	270	48	are	be	AUX
framr-1741	270	49	largely	largely	ADV
framr-1741	270	50	integrated	integrate	VERB
framr-1741	270	51	.	.	PUNCT
framr-1741	271	1	as	as	SCONJ
framr-1741	271	2	the	the	DET
framr-1741	271	3	empirical	empirical	ADJ
framr-1741	271	4	results	result	NOUN
framr-1741	271	5	showed	show	VERB
framr-1741	271	6	evidence	evidence	NOUN
framr-1741	271	7	of	of	ADP
framr-1741	271	8	leverage	leverage	NOUN
framr-1741	271	9	effect	effect	NOUN
framr-1741	271	10	in	in	ADP
framr-1741	271	11	the	the	DET
framr-1741	271	12	global	global	ADJ
framr-1741	271	13	stock	stock	NOUN
framr-1741	271	14	market	market	NOUN
framr-1741	271	15	,	,	PUNCT
framr-1741	271	16	it	it	PRON
framr-1741	271	17	is	be	AUX
framr-1741	271	18	recommended	recommend	VERB
framr-1741	271	19	that	that	SCONJ
framr-1741	271	20	regulators	regulator	NOUN
framr-1741	271	21	avail	avail	VERB
framr-1741	271	22	reliable	reliable	ADJ
framr-1741	271	23	platforms	platform	NOUN
framr-1741	271	24	for	for	ADP
framr-1741	271	25	information	information	NOUN
framr-1741	271	26	flow	flow	NOUN
framr-1741	271	27	through	through	ADP
framr-1741	271	28	software	software	NOUN
framr-1741	271	29	application	application	NOUN
framr-1741	271	30	and	and	CCONJ
framr-1741	271	31	other	other	ADJ
framr-1741	271	32	possible	possible	ADJ
framr-1741	271	33	means	mean	NOUN
framr-1741	271	34	to	to	PART
framr-1741	271	35	facilitate	facilitate	VERB
framr-1741	271	36	the	the	DET
framr-1741	271	37	ease	ease	NOUN
framr-1741	271	38	of	of	ADP
framr-1741	271	39	accessing	access	VERB
framr-1741	271	40	market	market	NOUN
framr-1741	271	41	information	information	NOUN
framr-1741	271	42	which	which	PRON
framr-1741	271	43	in	in	ADP
framr-1741	271	44	turn	turn	NOUN
framr-1741	271	45	drives	drive	VERB
framr-1741	271	46	investors	investor	NOUN
framr-1741	271	47	investment	investment	NOUN
framr-1741	271	48	decisions	decision	NOUN
framr-1741	271	49	.	.	PUNCT
framr-1741	272	1	hence	hence	ADV
framr-1741	272	2	,	,	PUNCT
framr-1741	272	3	market	market	NOUN
framr-1741	272	4	stability	stability	NOUN
framr-1741	272	5	and	and	CCONJ
framr-1741	272	6	better	well	ADJ
framr-1741	272	7	information	information	NOUN
framr-1741	272	8	dissemination	dissemination	NOUN
framr-1741	272	9	will	will	AUX
framr-1741	272	10	reduce	reduce	VERB
framr-1741	272	11	the	the	DET
framr-1741	272	12	magnitude	magnitude	NOUN
framr-1741	272	13	of	of	ADP
framr-1741	272	14	stock	stock	NOUN
framr-1741	272	15	returns	return	NOUN
framr-1741	272	16	volatility	volatility	NOUN
framr-1741	272	17	and	and	CCONJ
framr-1741	272	18	improve	improve	VERB
framr-1741	272	19	transparency	transparency	NOUN
framr-1741	272	20	in	in	ADP
framr-1741	272	21	the	the	DET
framr-1741	272	22	global	global	ADJ
framr-1741	272	23	stock	stock	NOUN
framr-1741	272	24	market	market	NOUN
framr-1741	272	25	.	.	PUNCT
framr-1741	273	1	funding	funding	NOUN
framr-1741	273	2	:	:	PUNCT
framr-1741	273	3	this	this	DET
framr-1741	273	4	study	study	NOUN
framr-1741	273	5	received	receive	VERB
framr-1741	273	6	no	no	DET
framr-1741	273	7	specific	specific	ADJ
framr-1741	273	8	financial	financial	ADJ
framr-1741	273	9	support	support	NOUN
framr-1741	273	10	.	.	PUNCT
framr-1741	274	1	competing	compete	VERB
framr-1741	274	2	interests	interest	NOUN
framr-1741	274	3	:	:	PUNCT
framr-1741	274	4	the	the	DET
framr-1741	274	5	authors	author	NOUN
framr-1741	274	6	declare	declare	VERB
framr-1741	274	7	that	that	SCONJ
framr-1741	274	8	they	they	PRON
framr-1741	274	9	have	have	VERB
framr-1741	274	10	no	no	DET
framr-1741	274	11	competing	compete	VERB
framr-1741	274	12	interests	interest	NOUN
framr-1741	274	13	.	.	PUNCT
framr-1741	275	1	acknowledgement	acknowledgement	NOUN
framr-1741	275	2	:	:	PUNCT
framr-1741	275	3	both	both	DET
framr-1741	275	4	authors	author	NOUN
framr-1741	275	5	contributed	contribute	VERB
framr-1741	275	6	equally	equally	ADV
framr-1741	275	7	to	to	ADP
framr-1741	275	8	the	the	DET
framr-1741	275	9	conception	conception	NOUN
framr-1741	275	10	and	and	CCONJ
framr-1741	275	11	design	design	NOUN
framr-1741	275	12	of	of	ADP
framr-1741	275	13	the	the	DET
framr-1741	275	14	study	study	NOUN
framr-1741	275	15	.	.	PUNCT
framr-1741	276	1	references	reference	NOUN
framr-1741	276	2	abdennadher	abdennadher	ADV
framr-1741	276	3	,	,	PUNCT
framr-1741	276	4	e.	e.	PROPN
framr-1741	276	5	,	,	PUNCT
framr-1741	276	6	&	&	CCONJ
framr-1741	276	7	hallara	hallara	PROPN
framr-1741	276	8	,	,	PUNCT
framr-1741	276	9	s.	s.	PROPN
framr-1741	276	10	(	(	PUNCT
framr-1741	276	11	2018	2018	NUM
framr-1741	276	12	)	)	PUNCT
framr-1741	276	13	.	.	PUNCT
framr-1741	277	1	structural	structural	ADJ
framr-1741	277	2	breaks	break	NOUN
framr-1741	277	3	and	and	CCONJ
framr-1741	277	4	stock	stock	NOUN
framr-1741	277	5	market	market	NOUN
framr-1741	277	6	volatility	volatility	NOUN
framr-1741	277	7	in	in	ADP
framr-1741	277	8	emerging	emerge	VERB
framr-1741	277	9	countries	country	NOUN
framr-1741	277	10	.	.	PUNCT
framr-1741	278	1	international	international	ADJ
framr-1741	278	2	journal	journal	PROPN
framr-1741	278	3	of	of	ADP
framr-1741	278	4	business	business	NOUN
framr-1741	278	5	and	and	CCONJ
framr-1741	278	6	risk	risk	NOUN
framr-1741	278	7	management	management	NOUN
framr-1741	278	8	,	,	PUNCT
framr-1741	278	9	1(1	1(1	NUM
framr-1741	278	10	)	)	PUNCT
framr-1741	278	11	,	,	PUNCT
framr-1741	278	12	9-16.available	9-16.available	NUM
framr-1741	278	13	at	at	ADP
framr-1741	278	14	:	:	PUNCT
framr-1741	278	15	https://doi:10.12691	https://doi:10.12691	PROPN
framr-1741	278	16	/	/	SYM
framr-1741	278	17	ijbrm-1	ijbrm-1	NOUN
framr-1741	278	18	-	-	PUNCT
framr-1741	278	19	1	1	NUM
framr-1741	278	20	-	-	SYM
framr-1741	278	21	2	2	NUM
framr-1741	278	22	.	.	PUNCT
framr-1741	278	23	financial	financial	ADJ
framr-1741	278	24	risk	risk	NOUN
framr-1741	278	25	and	and	CCONJ
framr-1741	278	26	management	management	NOUN
framr-1741	278	27	reviews	review	NOUN
framr-1741	278	28	,	,	PUNCT
framr-1741	278	29	2021	2021	NUM
framr-1741	278	30	,	,	PUNCT
framr-1741	278	31	7(1	7(1	NUM
framr-1741	278	32	):	):	PUNCT
framr-1741	278	33	1	1	NUM
framr-1741	278	34	-	-	SYM
framr-1741	278	35	15	15	NUM
framr-1741	278	36	13	13	NUM
framr-1741	278	37	©	©	PROPN
framr-1741	278	38	2021	2021	NUM
framr-1741	278	39	conscientia	conscientia	PROPN
framr-1741	278	40	beam	beam	PROPN
framr-1741	278	41	.	.	PUNCT
framr-1741	279	1	all	all	DET
framr-1741	279	2	rights	right	NOUN
framr-1741	279	3	reserved	reserve	VERB
framr-1741	279	4	.	.	PUNCT
framr-1741	280	1	adewale	adewale	PROPN
framr-1741	280	2	,	,	PUNCT
framr-1741	280	3	a.	a.	PROPN
framr-1741	280	4	o.	o.	PROPN
framr-1741	280	5	,	,	PUNCT
framr-1741	280	6	olufemi	olufemi	PROPN
framr-1741	280	7	,	,	PUNCT
framr-1741	280	8	a.	a.	NOUN
framr-1741	280	9	p.	p.	NOUN
framr-1741	280	10	,	,	PUNCT
framr-1741	280	11	&	&	CCONJ
framr-1741	280	12	oseko	oseko	PROPN
framr-1741	280	13	,	,	PUNCT
framr-1741	280	14	m.	m.	NOUN
framr-1741	280	15	s.	s.	PROPN
framr-1741	280	16	(	(	PUNCT
framr-1741	280	17	2016	2016	NUM
framr-1741	280	18	)	)	PUNCT
framr-1741	280	19	.	.	PUNCT
framr-1741	281	1	modelling	model	VERB
framr-1741	281	2	volatility	volatility	NOUN
framr-1741	281	3	persistence	persistence	NOUN
framr-1741	281	4	and	and	CCONJ
framr-1741	281	5	asymmetry	asymmetry	NOUN
framr-1741	281	6	with	with	ADP
framr-1741	281	7	structural	structural	ADJ
framr-1741	281	8	break	break	NOUN
framr-1741	281	9	:	:	PUNCT
framr-1741	281	10	evidence	evidence	NOUN
framr-1741	281	11	from	from	ADP
framr-1741	281	12	the	the	DET
framr-1741	281	13	nigerian	nigerian	ADJ
framr-1741	281	14	stock	stock	NOUN
framr-1741	281	15	market	market	NOUN
framr-1741	281	16	.	.	PUNCT
framr-1741	282	1	journal	journal	PROPN
framr-1741	282	2	of	of	ADP
framr-1741	282	3	economics	economic	NOUN
framr-1741	282	4	and	and	CCONJ
framr-1741	282	5	behavioral	behavioral	ADJ
framr-1741	282	6	studies	study	NOUN
framr-1741	282	7	,	,	PUNCT
framr-1741	282	8	8(6	8(6	NUM
framr-1741	282	9	(	(	PUNCT
framr-1741	282	10	j	j	NOUN
framr-1741	282	11	)	)	PUNCT
framr-1741	282	12	)	)	PUNCT
framr-1741	282	13	,	,	PUNCT
framr-1741	282	14	153-160.available	153-160.available	NUM
framr-1741	282	15	at	at	ADP
framr-1741	282	16	:	:	PUNCT
framr-1741	282	17	https://doi.org/10.22610/jebs.v8i6(j).1489	https://doi.org/10.22610/jebs.v8i6(j).1489	PROPN
framr-1741	282	18	.	.	PUNCT
framr-1741	282	19	aguda	aguda	PROPN
framr-1741	282	20	,	,	PUNCT
framr-1741	282	21	n.	n.	NOUN
framr-1741	282	22	a.	a.	PROPN
framr-1741	282	23	(	(	PUNCT
framr-1741	282	24	2016	2016	NUM
framr-1741	282	25	)	)	PUNCT
framr-1741	282	26	.	.	PUNCT
framr-1741	283	1	a	a	DET
framr-1741	283	2	test	test	NOUN
framr-1741	283	3	of	of	ADP
framr-1741	283	4	asymmetric	asymmetric	ADJ
framr-1741	283	5	volatility	volatility	NOUN
framr-1741	283	6	in	in	ADP
framr-1741	283	7	the	the	DET
framr-1741	283	8	nigerian	nigerian	ADJ
framr-1741	283	9	stock	stock	NOUN
framr-1741	283	10	exchange	exchange	PROPN
framr-1741	283	11	.	.	PUNCT
framr-1741	284	1	international	international	ADJ
framr-1741	284	2	journal	journal	PROPN
framr-1741	284	3	of	of	ADP
framr-1741	284	4	economics	economic	NOUN
framr-1741	284	5	,	,	PUNCT
framr-1741	284	6	finance	finance	NOUN
framr-1741	284	7	and	and	CCONJ
framr-1741	284	8	management	management	NOUN
framr-1741	284	9	sciences	science	NOUN
framr-1741	284	10	,	,	PUNCT
framr-1741	284	11	4(5	4(5	PROPN
framr-1741	284	12	)	)	PUNCT
framr-1741	284	13	,	,	PUNCT
framr-1741	284	14	263-268.available	263-268.available	NUM
framr-1741	284	15	at	at	ADP
framr-1741	284	16	:	:	PUNCT
framr-1741	284	17	https://doi:10.11648	https://doi:10.11648	PROPN
framr-1741	284	18	/	/	SYM
framr-1741	284	19	j.ijefm.20160405.15	j.ijefm.20160405.15	PROPN
framr-1741	284	20	.	.	PUNCT
framr-1741	285	1	ahmad	ahmad	PROPN
framr-1741	285	2	,	,	PUNCT
framr-1741	285	3	m.	m.	NOUN
framr-1741	285	4	,	,	PUNCT
framr-1741	285	5	ahmed	ahmed	PROPN
framr-1741	285	6	,	,	PUNCT
framr-1741	285	7	r.	r.	PROPN
framr-1741	285	8	r.	r.	PROPN
framr-1741	285	9	,	,	PUNCT
framr-1741	285	10	vveinhardt	vveinhardt	PROPN
framr-1741	285	11	,	,	PUNCT
framr-1741	285	12	j.	j.	PROPN
framr-1741	285	13	,	,	PUNCT
framr-1741	285	14	&	&	CCONJ
framr-1741	285	15	streimikiene	streimikiene	PROPN
framr-1741	285	16	,	,	PUNCT
framr-1741	285	17	d.	d.	PROPN
framr-1741	285	18	(	(	PUNCT
framr-1741	285	19	2016	2016	NUM
framr-1741	285	20	)	)	PUNCT
framr-1741	285	21	.	.	PUNCT
framr-1741	286	1	empirical	empirical	ADJ
framr-1741	286	2	analysis	analysis	NOUN
framr-1741	286	3	of	of	ADP
framr-1741	286	4	stock	stock	NOUN
framr-1741	286	5	returns	return	NOUN
framr-1741	286	6	and	and	CCONJ
framr-1741	286	7	volatility	volatility	NOUN
framr-1741	286	8	:	:	PUNCT
framr-1741	286	9	evidence	evidence	NOUN
framr-1741	286	10	from	from	ADP
framr-1741	286	11	asian	asian	ADJ
framr-1741	286	12	stock	stock	NOUN
framr-1741	286	13	markets	market	NOUN
framr-1741	286	14	.	.	PUNCT
framr-1741	287	1	technological	technological	ADJ
framr-1741	287	2	and	and	CCONJ
framr-1741	287	3	economic	economic	ADJ
framr-1741	287	4	development	development	NOUN
framr-1741	287	5	of	of	ADP
framr-1741	287	6	economy	economy	NOUN
framr-1741	287	7	,	,	PUNCT
framr-1741	287	8	22(6	22(6	NUM
framr-1741	287	9	)	)	PUNCT
framr-1741	287	10	,	,	PUNCT
framr-1741	287	11	808–829.available	808–829.available	NUM
framr-1741	287	12	at	at	ADP
framr-1741	287	13	:	:	PUNCT
framr-1741	287	14	https://doi:10.3846/20294913.2016.1213204	https://doi:10.3846/20294913.2016.1213204	PROPN
framr-1741	287	15	.	.	PUNCT
framr-1741	288	1	alagidede	alagidede	PROPN
framr-1741	288	2	,	,	PUNCT
framr-1741	288	3	p.	p.	NOUN
framr-1741	288	4	,	,	PUNCT
framr-1741	288	5	&	&	CCONJ
framr-1741	288	6	panagiotidis	panagiotidi	NOUN
framr-1741	288	7	,	,	PUNCT
framr-1741	288	8	t.	t.	PROPN
framr-1741	288	9	(	(	PUNCT
framr-1741	288	10	2009	2009	NUM
framr-1741	288	11	)	)	PUNCT
framr-1741	288	12	.	.	PUNCT
framr-1741	289	1	modelling	model	VERB
framr-1741	289	2	stock	stock	NOUN
framr-1741	289	3	returns	return	NOUN
framr-1741	289	4	in	in	ADP
framr-1741	289	5	africa	africa	PROPN
framr-1741	289	6	's	's	PART
framr-1741	289	7	emerging	emerge	VERB
framr-1741	289	8	equity	equity	NOUN
framr-1741	289	9	markets	market	NOUN
framr-1741	289	10	.	.	PUNCT
framr-1741	290	1	international	international	ADJ
framr-1741	290	2	review	review	NOUN
framr-1741	290	3	of	of	ADP
framr-1741	290	4	financial	financial	ADJ
framr-1741	290	5	analysis	analysis	NOUN
framr-1741	290	6	,	,	PUNCT
framr-1741	290	7	18(2	18(2	NUM
framr-1741	290	8	)	)	PUNCT
framr-1741	290	9	,	,	PUNCT
framr-1741	290	10	1-11.available	1-11.available	NUM
framr-1741	290	11	at	at	ADP
framr-1741	290	12	:	:	PUNCT
framr-1741	290	13	https://https://doi.org/10.1016	https://https://doi.org/10.1016	PROPN
framr-1741	290	14	/	/	SYM
framr-1741	290	15	j.irfa.2009.02.001	j.irfa.2009.02.001	PROPN
framr-1741	290	16	.	.	PUNCT
framr-1741	291	1	arouri	arouri	PROPN
framr-1741	291	2	,	,	PUNCT
framr-1741	291	3	m.	m.	PROPN
framr-1741	291	4	e.	e.	PROPN
framr-1741	291	5	h.	h.	PROPN
framr-1741	291	6	,	,	PUNCT
framr-1741	291	7	lahiani	lahiani	PROPN
framr-1741	291	8	,	,	PUNCT
framr-1741	291	9	a.	a.	NOUN
framr-1741	291	10	,	,	PUNCT
framr-1741	291	11	lévy	lévy	NOUN
framr-1741	291	12	,	,	PUNCT
framr-1741	291	13	a.	a.	NOUN
framr-1741	291	14	,	,	PUNCT
framr-1741	291	15	&	&	CCONJ
framr-1741	291	16	nguyen	nguyen	PROPN
framr-1741	291	17	,	,	PUNCT
framr-1741	291	18	d.	d.	PROPN
framr-1741	291	19	k.	k.	PROPN
framr-1741	291	20	(	(	PUNCT
framr-1741	291	21	2012	2012	NUM
framr-1741	291	22	)	)	PUNCT
framr-1741	291	23	.	.	PUNCT
framr-1741	292	1	forecasting	forecast	VERB
framr-1741	292	2	the	the	DET
framr-1741	292	3	conditional	conditional	ADJ
framr-1741	292	4	volatility	volatility	NOUN
framr-1741	292	5	of	of	ADP
framr-1741	292	6	oil	oil	NOUN
framr-1741	292	7	spot	spot	NOUN
framr-1741	292	8	and	and	CCONJ
framr-1741	292	9	futures	future	NOUN
framr-1741	292	10	prices	price	NOUN
framr-1741	292	11	with	with	ADP
framr-1741	292	12	structural	structural	ADJ
framr-1741	292	13	breaks	break	NOUN
framr-1741	292	14	and	and	CCONJ
framr-1741	292	15	long	long	ADJ
framr-1741	292	16	memory	memory	NOUN
framr-1741	292	17	models	model	NOUN
framr-1741	292	18	.	.	PUNCT
framr-1741	293	1	energy	energy	NOUN
framr-1741	293	2	economics	economic	NOUN
framr-1741	293	3	,	,	PUNCT
framr-1741	293	4	34(1	34(1	NUM
framr-1741	293	5	)	)	PUNCT
framr-1741	293	6	,	,	PUNCT
framr-1741	293	7	283-293.available	283-293.available	NUM
framr-1741	293	8	at	at	ADP
framr-1741	293	9	:	:	PUNCT
framr-1741	293	10	https://doi.org/10.1016/j.eneco.2011.10.015	https://doi.org/10.1016/j.eneco.2011.10.015	PROPN
framr-1741	293	11	.	.	PUNCT
framr-1741	293	12	babikir	babikir	PROPN
framr-1741	293	13	,	,	PUNCT
framr-1741	293	14	a.	a.	NOUN
framr-1741	293	15	,	,	PUNCT
framr-1741	293	16	gupta	gupta	PROPN
framr-1741	293	17	,	,	PUNCT
framr-1741	293	18	r.	r.	PROPN
framr-1741	293	19	,	,	PUNCT
framr-1741	293	20	&	&	CCONJ
framr-1741	293	21	owusu	owusu	PROPN
framr-1741	293	22	-	-	PUNCT
framr-1741	293	23	sekyere	sekyere	PROPN
framr-1741	293	24	,	,	PUNCT
framr-1741	293	25	e.	e.	PROPN
framr-1741	293	26	(	(	PUNCT
framr-1741	293	27	2010	2010	NUM
framr-1741	293	28	)	)	PUNCT
framr-1741	293	29	.	.	PUNCT
framr-1741	294	1	structural	structural	ADJ
framr-1741	294	2	breaks	break	NOUN
framr-1741	294	3	and	and	CCONJ
framr-1741	294	4	garch	garch	NOUN
framr-1741	294	5	models	model	NOUN
framr-1741	294	6	of	of	ADP
framr-1741	294	7	stock	stock	NOUN
framr-1741	294	8	return	return	NOUN
framr-1741	294	9	volatility	volatility	NOUN
framr-1741	294	10	:	:	PUNCT
framr-1741	294	11	the	the	DET
framr-1741	294	12	case	case	NOUN
framr-1741	294	13	of	of	ADP
framr-1741	294	14	south	south	PROPN
framr-1741	294	15	africa	africa	PROPN
framr-1741	294	16	.	.	PUNCT
framr-1741	295	1	economic	economic	ADJ
framr-1741	295	2	modelling	modelling	NOUN
framr-1741	295	3	,	,	PUNCT
framr-1741	295	4	29(6	29(6	NUM
framr-1741	295	5	)	)	PUNCT
framr-1741	295	6	,	,	PUNCT
framr-1741	295	7	2435-2443.available	2435-2443.available	NUM
framr-1741	295	8	at	at	ADP
framr-1741	295	9	:	:	PUNCT
framr-1741	295	10	10.1016	10.1016	NUM
framr-1741	295	11	/	/	SYM
framr-1741	295	12	j.econmod.2012.06.038	j.econmod.2012.06.038	PROPN
framr-1741	295	13	.	.	PUNCT
framr-1741	296	1	banumathy	banumathy	PROPN
framr-1741	296	2	,	,	PUNCT
framr-1741	296	3	k.	k.	PROPN
framr-1741	296	4	,	,	PUNCT
framr-1741	296	5	&	&	CCONJ
framr-1741	296	6	azhagaiah	azhagaiah	PROPN
framr-1741	296	7	,	,	PUNCT
framr-1741	296	8	r.	r.	PROPN
framr-1741	296	9	(	(	PUNCT
framr-1741	296	10	2015	2015	NUM
framr-1741	296	11	)	)	PUNCT
framr-1741	296	12	.	.	PUNCT
framr-1741	297	1	modelling	model	VERB
framr-1741	297	2	stock	stock	NOUN
framr-1741	297	3	market	market	NOUN
framr-1741	297	4	volatility	volatility	NOUN
framr-1741	297	5	:	:	PUNCT
framr-1741	297	6	evidence	evidence	NOUN
framr-1741	297	7	from	from	ADP
framr-1741	297	8	india	india	PROPN
framr-1741	297	9	.	.	PUNCT
framr-1741	298	1	managing	manage	VERB
framr-1741	298	2	global	global	ADJ
framr-1741	298	3	transitions	transition	NOUN
framr-1741	298	4	,	,	PUNCT
framr-1741	298	5	13(1	13(1	NUM
framr-1741	298	6	)	)	PUNCT
framr-1741	298	7	,	,	PUNCT
framr-1741	298	8	27	27	NUM
framr-1741	298	9	-	-	SYM
framr-1741	298	10	42	42	NUM
framr-1741	298	11	.	.	PUNCT
framr-1741	299	1	bekaert	bekaert	PROPN
framr-1741	299	2	,	,	PUNCT
framr-1741	299	3	g.	g.	PROPN
framr-1741	299	4	,	,	PUNCT
framr-1741	299	5	&	&	CCONJ
framr-1741	299	6	wu	wu	PROPN
framr-1741	299	7	,	,	PUNCT
framr-1741	299	8	g.	g.	PROPN
framr-1741	299	9	(	(	PUNCT
framr-1741	299	10	2000	2000	NUM
framr-1741	299	11	)	)	PUNCT
framr-1741	299	12	.	.	PUNCT
framr-1741	300	1	asymmetric	asymmetric	ADJ
framr-1741	300	2	volatility	volatility	NOUN
framr-1741	300	3	and	and	CCONJ
framr-1741	300	4	risk	risk	NOUN
framr-1741	300	5	in	in	ADP
framr-1741	300	6	equity	equity	NOUN
framr-1741	300	7	markets	market	NOUN
framr-1741	300	8	.	.	PUNCT
framr-1741	301	1	the	the	DET
framr-1741	301	2	review	review	NOUN
framr-1741	301	3	of	of	ADP
framr-1741	301	4	financial	financial	ADJ
framr-1741	301	5	studies	study	NOUN
framr-1741	301	6	,	,	PUNCT
framr-1741	301	7	13(1	13(1	NUM
framr-1741	301	8	)	)	PUNCT
framr-1741	301	9	,	,	PUNCT
framr-1741	301	10	142.available	142.available	ADJ
framr-1741	301	11	at	at	ADP
framr-1741	301	12	:	:	PUNCT
framr-1741	301	13	https://doi.org/10.1093/rfs/13.1.1	https://doi.org/10.1093/rfs/13.1.1	NOUN
framr-1741	301	14	.	.	PUNCT
framr-1741	302	1	bello	bello	PROPN
framr-1741	302	2	,	,	PUNCT
framr-1741	302	3	a.	a.	NOUN
framr-1741	302	4	i.	i.	PROPN
framr-1741	302	5	(	(	PUNCT
framr-1741	302	6	2020	2020	NUM
framr-1741	302	7	)	)	PUNCT
framr-1741	302	8	.	.	PUNCT
framr-1741	303	1	re	re	VERB
framr-1741	303	2	-	-	VERB
framr-1741	303	3	examining	examine	VERB
framr-1741	303	4	the	the	DET
framr-1741	303	5	effect	effect	NOUN
framr-1741	303	6	of	of	ADP
framr-1741	303	7	volatility	volatility	NOUN
framr-1741	303	8	persistence	persistence	NOUN
framr-1741	303	9	on	on	ADP
framr-1741	303	10	nigerian	nigerian	ADJ
framr-1741	303	11	stock	stock	NOUN
framr-1741	303	12	market	market	NOUN
framr-1741	303	13	returns	return	NOUN
framr-1741	303	14	:	:	PUNCT
framr-1741	303	15	mean	mean	ADJ
framr-1741	303	16	-	-	PUNCT
framr-1741	303	17	revert	revert	ADJ
framr-1741	303	18	garch	garch	NOUN
framr-1741	303	19	approach	approach	NOUN
framr-1741	303	20	.	.	PUNCT
framr-1741	304	1	journal	journal	NOUN
framr-1741	304	2	of	of	ADP
framr-1741	304	3	accounting	accounting	NOUN
framr-1741	304	4	and	and	CCONJ
framr-1741	304	5	management	management	NOUN
framr-1741	304	6	,	,	PUNCT
framr-1741	304	7	10(2	10(2	NUM
framr-1741	304	8	)	)	PUNCT
framr-1741	304	9	,	,	PUNCT
framr-1741	304	10	34	34	NUM
framr-1741	304	11	-	-	SYM
framr-1741	304	12	40	40	NUM
framr-1741	304	13	.	.	PUNCT
framr-1741	305	1	bentes	bente	NOUN
framr-1741	305	2	,	,	PUNCT
framr-1741	305	3	s.	s.	PROPN
framr-1741	305	4	r.	r.	PROPN
framr-1741	305	5	,	,	PUNCT
framr-1741	305	6	&	&	CCONJ
framr-1741	305	7	da	da	PROPN
framr-1741	305	8	cruz	cruz	PROPN
framr-1741	305	9	,	,	PUNCT
framr-1741	305	10	m.	m.	NOUN
framr-1741	305	11	m.	m.	NOUN
framr-1741	305	12	(	(	PUNCT
framr-1741	305	13	2010	2010	NUM
framr-1741	305	14	)	)	PUNCT
framr-1741	305	15	.	.	PUNCT
framr-1741	306	1	is	be	AUX
framr-1741	306	2	stock	stock	NOUN
framr-1741	306	3	market	market	NOUN
framr-1741	306	4	volatility	volatility	NOUN
framr-1741	306	5	persistent	persistent	ADJ
framr-1741	306	6	?	?	PUNCT
framr-1741	307	1	a	a	DET
framr-1741	307	2	fractionally	fractionally	ADV
framr-1741	307	3	integrated	integrate	VERB
framr-1741	307	4	approach	approach	NOUN
framr-1741	307	5	.	.	PUNCT
framr-1741	308	1	physica	physica	PROPN
framr-1741	308	2	a	a	DET
framr-1741	308	3	,	,	PUNCT
framr-1741	308	4	32(5	32(5	NOUN
framr-1741	308	5	)	)	PUNCT
framr-1741	308	6	,	,	PUNCT
framr-1741	308	7	3826	3826	NUM
framr-1741	308	8	-	-	SYM
framr-1741	308	9	3830	3830	NUM
framr-1741	308	10	.	.	PUNCT
framr-1741	309	1	berument	berument	PROPN
framr-1741	309	2	,	,	PUNCT
framr-1741	309	3	h.	h.	PROPN
framr-1741	309	4	,	,	PUNCT
framr-1741	309	5	&	&	CCONJ
framr-1741	309	6	kiymaz	kiymaz	PROPN
framr-1741	309	7	,	,	PUNCT
framr-1741	309	8	h.	h.	PROPN
framr-1741	309	9	(	(	PUNCT
framr-1741	309	10	2001	2001	NUM
framr-1741	309	11	)	)	PUNCT
framr-1741	309	12	.	.	PUNCT
framr-1741	310	1	the	the	DET
framr-1741	310	2	day	day	NOUN
framr-1741	310	3	of	of	ADP
framr-1741	310	4	the	the	DET
framr-1741	310	5	week	week	NOUN
framr-1741	310	6	effect	effect	NOUN
framr-1741	310	7	on	on	ADP
framr-1741	310	8	stock	stock	NOUN
framr-1741	310	9	market	market	NOUN
framr-1741	310	10	volatility	volatility	NOUN
framr-1741	310	11	.	.	PUNCT
framr-1741	311	1	journal	journal	NOUN
framr-1741	311	2	of	of	ADP
framr-1741	311	3	economics	economic	NOUN
framr-1741	311	4	and	and	CCONJ
framr-1741	311	5	finance	finance	NOUN
framr-1741	311	6	,	,	PUNCT
framr-1741	311	7	25(2	25(2	NUM
framr-1741	311	8	)	)	PUNCT
framr-1741	311	9	,	,	PUNCT
framr-1741	311	10	181	181	NUM
framr-1741	311	11	-	-	SYM
framr-1741	311	12	193	193	NUM
framr-1741	311	13	.	.	PUNCT
framr-1741	312	1	bohl	bohl	NOUN
framr-1741	312	2	,	,	PUNCT
framr-1741	312	3	m.	m.	NOUN
framr-1741	312	4	t.	t.	PROPN
framr-1741	312	5	,	,	PUNCT
framr-1741	312	6	&	&	CCONJ
framr-1741	312	7	henke	henke	PROPN
framr-1741	312	8	,	,	PUNCT
framr-1741	312	9	h.	h.	PROPN
framr-1741	312	10	(	(	PUNCT
framr-1741	312	11	2003	2003	NUM
framr-1741	312	12	)	)	PUNCT
framr-1741	312	13	.	.	PUNCT
framr-1741	313	1	trading	trading	NOUN
framr-1741	313	2	volume	volume	NOUN
framr-1741	313	3	and	and	CCONJ
framr-1741	313	4	stock	stock	NOUN
framr-1741	313	5	market	market	NOUN
framr-1741	313	6	volatility	volatility	NOUN
framr-1741	313	7	:	:	PUNCT
framr-1741	313	8	the	the	DET
framr-1741	313	9	polish	polish	ADJ
framr-1741	313	10	case	case	NOUN
framr-1741	313	11	.	.	PUNCT
framr-1741	314	1	international	international	ADJ
framr-1741	314	2	review	review	NOUN
framr-1741	314	3	of	of	ADP
framr-1741	314	4	financial	financial	ADJ
framr-1741	314	5	analysis	analysis	NOUN
framr-1741	314	6	,	,	PUNCT
framr-1741	314	7	12(5	12(5	NUM
framr-1741	314	8	)	)	PUNCT
framr-1741	314	9	,	,	PUNCT
framr-1741	314	10	513-525.available	513-525.available	NUM
framr-1741	314	11	at	at	ADP
framr-1741	314	12	:	:	PUNCT
framr-1741	314	13	https://doi.org/10.1016/s1057-5219(03)00066-8	https://doi.org/10.1016/s1057-5219(03)00066-8	PROPN
framr-1741	314	14	.	.	PUNCT
framr-1741	315	1	bollerslev	bollerslev	PROPN
framr-1741	315	2	,	,	PUNCT
framr-1741	315	3	t.	t.	PROPN
framr-1741	315	4	,	,	PUNCT
framr-1741	315	5	chou	chou	NOUN
framr-1741	315	6	,	,	PUNCT
framr-1741	315	7	r.	r.	PROPN
framr-1741	315	8	y.	y.	PROPN
framr-1741	315	9	,	,	PUNCT
framr-1741	315	10	&	&	CCONJ
framr-1741	315	11	kroner	kroner	PROPN
framr-1741	315	12	,	,	PUNCT
framr-1741	315	13	k.	k.	PROPN
framr-1741	315	14	f.	f.	PROPN
framr-1741	315	15	(	(	PUNCT
framr-1741	315	16	1992	1992	NUM
framr-1741	315	17	)	)	PUNCT
framr-1741	315	18	.	.	PUNCT
framr-1741	316	1	arch	arch	ADJ
framr-1741	316	2	modeling	modeling	NOUN
framr-1741	316	3	in	in	ADP
framr-1741	316	4	finance	finance	NOUN
framr-1741	316	5	:	:	PUNCT
framr-1741	316	6	a	a	DET
framr-1741	316	7	review	review	NOUN
framr-1741	316	8	of	of	ADP
framr-1741	316	9	the	the	DET
framr-1741	316	10	theory	theory	NOUN
framr-1741	316	11	and	and	CCONJ
framr-1741	316	12	empirical	empirical	ADJ
framr-1741	316	13	evidence	evidence	NOUN
framr-1741	316	14	.	.	PUNCT
framr-1741	317	1	journal	journal	NOUN
framr-1741	317	2	of	of	ADP
framr-1741	317	3	econometrics	econometric	NOUN
framr-1741	317	4	,	,	PUNCT
framr-1741	317	5	52(1	52(1	NOUN
framr-1741	317	6	-	-	SYM
framr-1741	317	7	2	2	NUM
framr-1741	317	8	)	)	PUNCT
framr-1741	317	9	,	,	PUNCT
framr-1741	317	10	5	5	NUM
framr-1741	317	11	-	-	SYM
framr-1741	317	12	59	59	NUM
framr-1741	317	13	.	.	PUNCT
framr-1741	317	14	bollerslev	bollerslev	PROPN
framr-1741	317	15	,	,	PUNCT
framr-1741	317	16	t.	t.	PROPN
framr-1741	317	17	(	(	PUNCT
framr-1741	317	18	1986	1986	NUM
framr-1741	317	19	)	)	PUNCT
framr-1741	317	20	.	.	PUNCT
framr-1741	318	1	generalized	generalize	VERB
framr-1741	318	2	autoregressive	autoregressive	ADJ
framr-1741	318	3	conditional	conditional	ADJ
framr-1741	318	4	heteroskedasticity	heteroskedasticity	NOUN
framr-1741	318	5	.	.	PUNCT
framr-1741	319	1	journal	journal	PROPN
framr-1741	319	2	of	of	ADP
framr-1741	319	3	econometrics	econometric	NOUN
framr-1741	319	4	,	,	PUNCT
framr-1741	319	5	31(3	31(3	NUM
framr-1741	319	6	)	)	PUNCT
framr-1741	319	7	,	,	PUNCT
framr-1741	319	8	307-327.available	307-327.available	NUM
framr-1741	319	9	at	at	ADP
framr-1741	319	10	:	:	PUNCT
framr-1741	319	11	https://doi.org/10.1016/0304-4076(86)90063-1	https://doi.org/10.1016/0304-4076(86)90063-1	PROPN
framr-1741	319	12	.	.	PUNCT
framr-1741	320	1	brealey	brealey	PROPN
framr-1741	320	2	,	,	PUNCT
framr-1741	320	3	r.	r.	PROPN
framr-1741	320	4	a.	a.	PROPN
framr-1741	320	5	,	,	PUNCT
framr-1741	320	6	&	&	CCONJ
framr-1741	320	7	meyers	meyers	PROPN
framr-1741	320	8	,	,	PUNCT
framr-1741	320	9	s.	s.	PROPN
framr-1741	320	10	c.	c.	PROPN
framr-1741	320	11	(	(	PUNCT
framr-1741	320	12	2003	2003	NUM
framr-1741	320	13	)	)	PUNCT
framr-1741	320	14	.	.	PUNCT
framr-1741	321	1	principles	principle	NOUN
framr-1741	321	2	of	of	ADP
framr-1741	321	3	corporate	corporate	ADJ
framr-1741	321	4	finance	finance	NOUN
framr-1741	321	5	.	.	PUNCT
framr-1741	322	1	new	new	PROPN
framr-1741	322	2	york	york	PROPN
framr-1741	322	3	:	:	PUNCT
framr-1741	322	4	mcgraw	mcgraw	PROPN
framr-1741	322	5	-	-	PUNCT
framr-1741	322	6	hill	hill	NOUN
framr-1741	322	7	.	.	PUNCT
framr-1741	323	1	caporale	caporale	PROPN
framr-1741	323	2	,	,	PUNCT
framr-1741	323	3	g.	g.	PROPN
framr-1741	323	4	m.	m.	PROPN
framr-1741	323	5	,	,	PUNCT
framr-1741	323	6	karanasos	karanasos	PROPN
framr-1741	323	7	,	,	PUNCT
framr-1741	323	8	m.	m.	NOUN
framr-1741	323	9	,	,	PUNCT
framr-1741	323	10	yfanti	yfanti	PROPN
framr-1741	323	11	,	,	PUNCT
framr-1741	323	12	s.	s.	PROPN
framr-1741	323	13	,	,	PUNCT
framr-1741	323	14	&	&	CCONJ
framr-1741	323	15	kartsaklas	kartsaklas	PROPN
framr-1741	323	16	,	,	PUNCT
framr-1741	323	17	m.	m.	NOUN
framr-1741	323	18	(	(	PUNCT
framr-1741	323	19	2019	2019	NUM
framr-1741	323	20	)	)	PUNCT
framr-1741	323	21	.	.	PUNCT
framr-1741	324	1	investors	investor	NOUN
framr-1741	324	2	’	’	PART
framr-1741	324	3	trading	trading	NOUN
framr-1741	324	4	behaviour	behaviour	NOUN
framr-1741	324	5	and	and	CCONJ
framr-1741	324	6	stock	stock	NOUN
framr-1741	324	7	market	market	NOUN
framr-1741	324	8	volatility	volatility	NOUN
framr-1741	324	9	during	during	ADP
framr-1741	324	10	crisis	crisis	NOUN
framr-1741	324	11	periods	period	NOUN
framr-1741	324	12	:	:	PUNCT
framr-1741	324	13	a	a	DET
framr-1741	324	14	dual	dual	ADJ
framr-1741	324	15	long	long	ADJ
framr-1741	324	16	memory	memory	NOUN
framr-1741	324	17	model	model	NOUN
framr-1741	324	18	for	for	ADP
framr-1741	324	19	the	the	DET
framr-1741	324	20	korean	korean	ADJ
framr-1741	324	21	stock	stock	NOUN
framr-1741	324	22	exchange	exchange	PROPN
framr-1741	324	23	.	.	PUNCT
framr-1741	325	1	economics	economic	NOUN
framr-1741	325	2	and	and	CCONJ
framr-1741	325	3	finance	finance	NOUN
framr-1741	325	4	working	working	NOUN
framr-1741	325	5	paper	paper	NOUN
framr-1741	325	6	series	series	NOUN
framr-1741	325	7	,	,	PUNCT
framr-1741	325	8	no	no	INTJ
framr-1741	325	9	.	.	NOUN
framr-1741	325	10	1921	1921	NUM
framr-1741	325	11	.	.	PUNCT
framr-1741	326	1	chiang	chiang	PROPN
framr-1741	326	2	,	,	PUNCT
framr-1741	326	3	t.	t.	PROPN
framr-1741	326	4	c.	c.	PROPN
framr-1741	326	5	,	,	PUNCT
framr-1741	326	6	&	&	CCONJ
framr-1741	326	7	doong	doong	PROPN
framr-1741	326	8	,	,	PUNCT
framr-1741	326	9	s.	s.	PROPN
framr-1741	326	10	(	(	PUNCT
framr-1741	326	11	2014	2014	NUM
framr-1741	326	12	)	)	PUNCT
framr-1741	326	13	.	.	PUNCT
framr-1741	327	1	empirical	empirical	ADJ
framr-1741	327	2	analysis	analysis	NOUN
framr-1741	327	3	of	of	ADP
framr-1741	327	4	stock	stock	NOUN
framr-1741	327	5	returns	return	NOUN
framr-1741	327	6	and	and	CCONJ
framr-1741	327	7	volatility	volatility	NOUN
framr-1741	327	8	:	:	PUNCT
framr-1741	327	9	evidence	evidence	NOUN
framr-1741	327	10	from	from	ADP
framr-1741	327	11	seven	seven	NUM
framr-1741	327	12	asian	asian	ADJ
framr-1741	327	13	stock	stock	NOUN
framr-1741	327	14	markets	market	NOUN
framr-1741	327	15	based	base	VERB
framr-1741	327	16	on	on	ADP
framr-1741	327	17	tar	tar	NOUN
framr-1741	327	18	-	-	PUNCT
framr-1741	327	19	garch	garch	NOUN
framr-1741	327	20	model	model	NOUN
framr-1741	327	21	.	.	PUNCT
framr-1741	328	1	review	review	NOUN
framr-1741	328	2	of	of	ADP
framr-1741	328	3	quantitative	quantitative	ADJ
framr-1741	328	4	finance	finance	NOUN
framr-1741	328	5	and	and	CCONJ
framr-1741	328	6	accounting	accounting	NOUN
framr-1741	328	7	,	,	PUNCT
framr-1741	328	8	17(1	17(1	NUM
framr-1741	328	9	)	)	PUNCT
framr-1741	328	10	,	,	PUNCT
framr-1741	328	11	301–318.available	301–318.available	NUM
framr-1741	328	12	at	at	ADP
framr-1741	328	13	:	:	PUNCT
framr-1741	328	14	10.1023	10.1023	NUM
framr-1741	328	15	/	/	SYM
framr-1741	328	16	a:1012296727217	a:1012296727217	NOUN
framr-1741	328	17	.	.	PUNCT
framr-1741	329	1	chiang	chiang	PROPN
framr-1741	329	2	,	,	PUNCT
framr-1741	329	3	t.	t.	PROPN
framr-1741	329	4	c.	c.	PROPN
framr-1741	329	5	,	,	PUNCT
framr-1741	329	6	&	&	CCONJ
framr-1741	329	7	doong	doong	PROPN
framr-1741	329	8	,	,	PUNCT
framr-1741	329	9	s.-c	s.-c	NOUN
framr-1741	329	10	.	.	PUNCT
framr-1741	330	1	(	(	PUNCT
framr-1741	330	2	2001	2001	NUM
framr-1741	330	3	)	)	PUNCT
framr-1741	330	4	.	.	PUNCT
framr-1741	331	1	empirical	empirical	ADJ
framr-1741	331	2	analysis	analysis	NOUN
framr-1741	331	3	of	of	ADP
framr-1741	331	4	stock	stock	NOUN
framr-1741	331	5	returns	return	NOUN
framr-1741	331	6	and	and	CCONJ
framr-1741	331	7	volatility	volatility	NOUN
framr-1741	331	8	:	:	PUNCT
framr-1741	331	9	evidence	evidence	NOUN
framr-1741	331	10	from	from	ADP
framr-1741	331	11	seven	seven	NUM
framr-1741	331	12	asian	asian	ADJ
framr-1741	331	13	stock	stock	NOUN
framr-1741	331	14	markets	market	NOUN
framr-1741	331	15	based	base	VERB
framr-1741	331	16	on	on	ADP
framr-1741	331	17	tar	tar	NOUN
framr-1741	331	18	-	-	PUNCT
framr-1741	331	19	garch	garch	NOUN
framr-1741	331	20	model	model	NOUN
framr-1741	331	21	.	.	PUNCT
framr-1741	332	1	review	review	NOUN
framr-1741	332	2	of	of	ADP
framr-1741	332	3	quantitative	quantitative	ADJ
framr-1741	332	4	finance	finance	NOUN
framr-1741	332	5	and	and	CCONJ
framr-1741	332	6	accounting	accounting	NOUN
framr-1741	332	7	,	,	PUNCT
framr-1741	332	8	17(3	17(3	NUM
framr-1741	332	9	)	)	PUNCT
framr-1741	332	10	,	,	PUNCT
framr-1741	332	11	301	301	NUM
framr-1741	332	12	-	-	SYM
framr-1741	332	13	318	318	NUM
framr-1741	332	14	.	.	PUNCT
framr-1741	333	1	cong	cong	PROPN
framr-1741	333	2	,	,	PUNCT
framr-1741	333	3	h.	h.	PROPN
framr-1741	333	4	(	(	PUNCT
framr-1741	333	5	2017	2017	NUM
framr-1741	333	6	)	)	PUNCT
framr-1741	333	7	.	.	PUNCT
framr-1741	334	1	stock	stock	NOUN
framr-1741	334	2	market	market	NOUN
framr-1741	334	3	volatility	volatility	NOUN
framr-1741	334	4	persistence	persistence	NOUN
framr-1741	334	5	performance	performance	NOUN
framr-1741	334	6	of	of	ADP
framr-1741	334	7	2008	2008	NUM
framr-1741	334	8	’	'	PUNCT
framr-1741	334	9	crash	crash	NOUN
framr-1741	334	10	:	:	PUNCT
framr-1741	334	11	evidence	evidence	NOUN
framr-1741	334	12	from	from	ADP
framr-1741	334	13	the	the	DET
framr-1741	334	14	bric	bric	PROPN
framr-1741	334	15	markets	market	NOUN
framr-1741	334	16	.	.	PUNCT
framr-1741	335	1	master	master	NOUN
framr-1741	335	2	’s	’s	PART
framr-1741	335	3	thesis	thesis	NOUN
framr-1741	335	4	finance	finance	NOUN
framr-1741	335	5	,	,	PUNCT
framr-1741	335	6	tilburg	tilburg	PROPN
framr-1741	335	7	university	university	PROPN
framr-1741	335	8	,	,	PUNCT
framr-1741	335	9	netherlands	netherlands	PROPN
framr-1741	335	10	.	.	PUNCT
framr-1741	336	1	cont	cont	PROPN
framr-1741	336	2	,	,	PUNCT
framr-1741	336	3	r.	r.	PROPN
framr-1741	336	4	(	(	PUNCT
framr-1741	336	5	2005	2005	NUM
framr-1741	336	6	)	)	PUNCT
framr-1741	336	7	.	.	PUNCT
framr-1741	337	1	volatility	volatility	NOUN
framr-1741	337	2	clustering	cluster	VERB
framr-1741	337	3	in	in	ADP
framr-1741	337	4	financial	financial	ADJ
framr-1741	337	5	markets	market	NOUN
framr-1741	337	6	:	:	PUNCT
framr-1741	337	7	empirical	empirical	ADJ
framr-1741	337	8	facts	fact	NOUN
framr-1741	337	9	and	and	CCONJ
framr-1741	337	10	agent	agent	NOUN
framr-1741	337	11	–	–	PUNCT
framr-1741	337	12	based	base	VERB
framr-1741	337	13	models	model	NOUN
framr-1741	337	14	(	(	PUNCT
framr-1741	337	15	pp	pp	ADJ
framr-1741	337	16	.	.	PUNCT
framr-1741	338	1	1	1	NUM
framr-1741	338	2	-	-	SYM
framr-1741	338	3	21	21	NUM
framr-1741	338	4	)	)	PUNCT
framr-1741	338	5	.	.	PUNCT
framr-1741	339	1	ecole	ecole	PROPN
framr-1741	339	2	polytechnique	polytechnique	NOUN
framr-1741	339	3	:	:	PUNCT
framr-1741	339	4	center	center	NOUN
framr-1741	339	5	for	for	ADP
framr-1741	339	6	applied	applied	ADJ
framr-1741	339	7	mathematics	mathematic	NOUN
framr-1741	339	8	.	.	PUNCT
framr-1741	340	1	financial	financial	ADJ
framr-1741	340	2	risk	risk	NOUN
framr-1741	340	3	and	and	CCONJ
framr-1741	340	4	management	management	NOUN
framr-1741	340	5	reviews	review	NOUN
framr-1741	340	6	,	,	PUNCT
framr-1741	340	7	2021	2021	NUM
framr-1741	340	8	,	,	PUNCT
framr-1741	340	9	7(1	7(1	NUM
framr-1741	340	10	):	):	PUNCT
framr-1741	340	11	1	1	NUM
framr-1741	340	12	-	-	SYM
framr-1741	340	13	15	15	NUM
framr-1741	340	14	14	14	NUM
framr-1741	340	15	©	©	PROPN
framr-1741	340	16	2021	2021	NUM
framr-1741	340	17	conscientia	conscientia	PROPN
framr-1741	340	18	beam	beam	PROPN
framr-1741	340	19	.	.	PUNCT
framr-1741	341	1	all	all	DET
framr-1741	341	2	rights	right	NOUN
framr-1741	341	3	reserved	reserve	VERB
framr-1741	341	4	.	.	PUNCT
framr-1741	342	1	de	de	PROPN
framr-1741	342	2	gaetano	gaetano	PROPN
framr-1741	342	3	,	,	PUNCT
framr-1741	342	4	d.	d.	PROPN
framr-1741	342	5	(	(	PUNCT
framr-1741	342	6	2018	2018	NUM
framr-1741	342	7	)	)	PUNCT
framr-1741	342	8	.	.	PUNCT
framr-1741	343	1	forecast	forecast	NOUN
framr-1741	343	2	combinations	combination	NOUN
framr-1741	343	3	for	for	ADP
framr-1741	343	4	structural	structural	ADJ
framr-1741	343	5	breaks	break	NOUN
framr-1741	343	6	in	in	ADP
framr-1741	343	7	volatility	volatility	NOUN
framr-1741	343	8	:	:	PUNCT
framr-1741	343	9	evidence	evidence	NOUN
framr-1741	343	10	from	from	ADP
framr-1741	343	11	brics	bric	NOUN
framr-1741	343	12	countries	country	NOUN
framr-1741	343	13	.	.	PUNCT
framr-1741	344	1	journal	journal	NOUN
framr-1741	344	2	of	of	ADP
framr-1741	344	3	risk	risk	NOUN
framr-1741	344	4	and	and	CCONJ
framr-1741	344	5	financial	financial	ADJ
framr-1741	344	6	management	management	NOUN
framr-1741	344	7	,	,	PUNCT
framr-1741	344	8	11(64	11(64	NUM
framr-1741	344	9	)	)	PUNCT
framr-1741	344	10	,	,	PUNCT
framr-1741	344	11	1-13.available	1-13.available	NUM
framr-1741	344	12	at	at	ADP
framr-1741	344	13	:	:	PUNCT
framr-1741	344	14	https://doi.org/10.3390/jrfm11040064	https://doi.org/10.3390/jrfm11040064	PROPN
framr-1741	344	15	.	.	PUNCT
framr-1741	345	1	dickey	dickey	PROPN
framr-1741	345	2	,	,	PUNCT
framr-1741	345	3	d.	d.	PROPN
framr-1741	345	4	a.	a.	PROPN
framr-1741	345	5	,	,	PUNCT
framr-1741	345	6	&	&	CCONJ
framr-1741	345	7	fuller	full	ADJ
framr-1741	345	8	,	,	PUNCT
framr-1741	345	9	w.	w.	PROPN
framr-1741	345	10	a.	a.	PROPN
framr-1741	345	11	(	(	PUNCT
framr-1741	345	12	1979	1979	NUM
framr-1741	345	13	)	)	PUNCT
framr-1741	345	14	.	.	PUNCT
framr-1741	346	1	distribution	distribution	NOUN
framr-1741	346	2	of	of	ADP
framr-1741	346	3	the	the	DET
framr-1741	346	4	estimators	estimator	NOUN
framr-1741	346	5	for	for	ADP
framr-1741	346	6	autoregressive	autoregressive	ADJ
framr-1741	346	7	time	time	NOUN
framr-1741	346	8	series	series	NOUN
framr-1741	346	9	with	with	ADP
framr-1741	346	10	a	a	DET
framr-1741	346	11	unit	unit	NOUN
framr-1741	346	12	root	root	NOUN
framr-1741	346	13	.	.	PUNCT
framr-1741	347	1	journal	journal	PROPN
framr-1741	347	2	of	of	ADP
framr-1741	347	3	american	american	PROPN
framr-1741	347	4	statistical	statistical	ADJ
framr-1741	347	5	association	association	NOUN
framr-1741	347	6	,	,	PUNCT
framr-1741	347	7	74(366	74(366	PROPN
framr-1741	347	8	)	)	PUNCT
framr-1741	347	9	,	,	PUNCT
framr-1741	347	10	427–431.available	427–431.available	NUM
framr-1741	347	11	at	at	ADP
framr-1741	347	12	:	:	PUNCT
framr-1741	347	13	https://doi.org/10.1080/01621459.1979.10482531	https://doi.org/10.1080/01621459.1979.10482531	PROPN
framr-1741	347	14	.	.	PUNCT
framr-1741	347	15	ding	ding	PROPN
framr-1741	347	16	,	,	PUNCT
framr-1741	347	17	z.	z.	PROPN
framr-1741	347	18	,	,	PUNCT
framr-1741	347	19	granger	granger	PROPN
framr-1741	347	20	,	,	PUNCT
framr-1741	347	21	c.	c.	PROPN
framr-1741	347	22	w.	w.	PROPN
framr-1741	347	23	,	,	PUNCT
framr-1741	347	24	&	&	CCONJ
framr-1741	347	25	engle	engle	PROPN
framr-1741	347	26	,	,	PUNCT
framr-1741	347	27	r.	r.	PROPN
framr-1741	347	28	f.	f.	PROPN
framr-1741	347	29	(	(	PUNCT
framr-1741	347	30	1993	1993	NUM
framr-1741	347	31	)	)	PUNCT
framr-1741	347	32	.	.	PUNCT
framr-1741	348	1	a	a	DET
framr-1741	348	2	long	long	ADJ
framr-1741	348	3	memory	memory	NOUN
framr-1741	348	4	property	property	NOUN
framr-1741	348	5	of	of	ADP
framr-1741	348	6	stock	stock	NOUN
framr-1741	348	7	market	market	NOUN
framr-1741	348	8	returns	return	NOUN
framr-1741	348	9	and	and	CCONJ
framr-1741	348	10	a	a	DET
framr-1741	348	11	new	new	ADJ
framr-1741	348	12	model	model	NOUN
framr-1741	348	13	.	.	PUNCT
framr-1741	349	1	journal	journal	PROPN
framr-1741	349	2	of	of	ADP
framr-1741	349	3	empirical	empirical	ADJ
framr-1741	349	4	finance	finance	NOUN
framr-1741	349	5	,	,	PUNCT
framr-1741	349	6	1(1	1(1	NUM
framr-1741	349	7	)	)	PUNCT
framr-1741	349	8	,	,	PUNCT
framr-1741	349	9	83	83	NUM
framr-1741	349	10	-	-	SYM
framr-1741	349	11	106	106	NUM
framr-1741	349	12	.	.	PUNCT
framr-1741	350	1	dukes	duke	NOUN
framr-1741	350	2	,	,	PUNCT
framr-1741	350	3	w.	w.	PROPN
framr-1741	350	4	p.	p.	PROPN
framr-1741	350	5	,	,	PUNCT
framr-1741	350	6	bowlin	bowlin	PROPN
framr-1741	350	7	,	,	PUNCT
framr-1741	350	8	o.	o.	PROPN
framr-1741	350	9	d.	d.	PROPN
framr-1741	350	10	,	,	PUNCT
framr-1741	350	11	&	&	CCONJ
framr-1741	350	12	macdonald	macdonald	PROPN
framr-1741	350	13	,	,	PUNCT
framr-1741	350	14	s.	s.	PROPN
framr-1741	350	15	s.	s.	PROPN
framr-1741	350	16	(	(	PUNCT
framr-1741	350	17	1987	1987	NUM
framr-1741	350	18	)	)	PUNCT
framr-1741	350	19	.	.	PUNCT
framr-1741	351	1	the	the	DET
framr-1741	351	2	performance	performance	NOUN
framr-1741	351	3	of	of	ADP
framr-1741	351	4	beta	beta	NOUN
framr-1741	351	5	in	in	ADP
framr-1741	351	6	forecasting	forecast	VERB
framr-1741	351	7	portfolio	portfolio	NOUN
framr-1741	351	8	returns	return	NOUN
framr-1741	351	9	in	in	ADP
framr-1741	351	10	bull	bull	NOUN
framr-1741	351	11	and	and	CCONJ
framr-1741	351	12	bear	bear	NOUN
framr-1741	351	13	markets	market	NOUN
framr-1741	351	14	using	use	VERB
framr-1741	351	15	alternative	alternative	ADJ
framr-1741	351	16	market	market	NOUN
framr-1741	351	17	proxies	proxy	NOUN
framr-1741	351	18	.	.	PUNCT
framr-1741	352	1	quarterly	quarterly	ADJ
framr-1741	352	2	journal	journal	NOUN
framr-1741	352	3	of	of	ADP
framr-1741	352	4	business	business	NOUN
framr-1741	352	5	and	and	CCONJ
framr-1741	352	6	economics	economic	NOUN
framr-1741	352	7	,	,	PUNCT
framr-1741	352	8	11(4	11(4	NUM
framr-1741	352	9	)	)	PUNCT
framr-1741	352	10	,	,	PUNCT
framr-1741	352	11	89	89	NUM
framr-1741	352	12	-	-	SYM
framr-1741	352	13	103	103	NUM
framr-1741	352	14	.	.	PUNCT
framr-1741	353	1	edem	edem	PROPN
framr-1741	353	2	,	,	PUNCT
framr-1741	353	3	c.	c.	PROPN
framr-1741	353	4	a.	a.	PROPN
framr-1741	353	5	,	,	PUNCT
framr-1741	353	6	&	&	CCONJ
framr-1741	353	7	ogbonna	ogbonna	PROPN
framr-1741	353	8	,	,	PUNCT
framr-1741	353	9	u.	u.	PROPN
framr-1741	353	10	g.	g.	PROPN
framr-1741	353	11	(	(	PUNCT
framr-1741	353	12	2020	2020	NUM
framr-1741	353	13	)	)	PUNCT
framr-1741	353	14	.	.	PUNCT
framr-1741	354	1	evaluation	evaluation	NOUN
framr-1741	354	2	of	of	ADP
framr-1741	354	3	volatility	volatility	NOUN
framr-1741	354	4	persistence	persistence	NOUN
framr-1741	354	5	and	and	CCONJ
framr-1741	354	6	asymmetric	asymmetric	ADJ
framr-1741	354	7	effect	effect	NOUN
framr-1741	354	8	in	in	ADP
framr-1741	354	9	nigerian	nigerian	ADJ
framr-1741	354	10	capital	capital	NOUN
framr-1741	354	11	market	market	NOUN
framr-1741	354	12	.	.	PUNCT
framr-1741	355	1	iosr	iosr	ADJ
framr-1741	355	2	journal	journal	PROPN
framr-1741	355	3	of	of	ADP
framr-1741	355	4	economics	economic	NOUN
framr-1741	355	5	and	and	CCONJ
framr-1741	355	6	finance	finance	NOUN
framr-1741	355	7	,	,	PUNCT
framr-1741	355	8	11(1	11(1	NUM
framr-1741	355	9	)	)	PUNCT
framr-1741	355	10	,	,	PUNCT
framr-1741	355	11	19-26.available	19-26.available	ADJ
framr-1741	355	12	at	at	ADP
framr-1741	355	13	:	:	PUNCT
framr-1741	355	14	10.9790/5933	10.9790/5933	NUM
framr-1741	355	15	-	-	SYM
framr-1741	355	16	1101061926	1101061926	NUM
framr-1741	355	17	.	.	PUNCT
framr-1741	356	1	engle	engle	PROPN
framr-1741	356	2	,	,	PUNCT
framr-1741	356	3	r.	r.	PROPN
framr-1741	356	4	f.	f.	PROPN
framr-1741	356	5	,	,	PUNCT
framr-1741	356	6	&	&	CCONJ
framr-1741	356	7	patton	patton	PROPN
framr-1741	356	8	,	,	PUNCT
framr-1741	356	9	a.	a.	PROPN
framr-1741	356	10	j.	j.	PROPN
framr-1741	356	11	(	(	PUNCT
framr-1741	356	12	2001	2001	NUM
framr-1741	356	13	)	)	PUNCT
framr-1741	356	14	.	.	PUNCT
framr-1741	357	1	what	what	PRON
framr-1741	357	2	good	good	ADJ
framr-1741	357	3	is	be	AUX
framr-1741	357	4	a	a	DET
framr-1741	357	5	volatility	volatility	NOUN
framr-1741	357	6	model	model	NOUN
framr-1741	357	7	?	?	PUNCT
framr-1741	358	1	quantitative	quantitative	ADJ
framr-1741	358	2	finance	finance	NOUN
framr-1741	358	3	,	,	PUNCT
framr-1741	358	4	1(1	1(1	NUM
framr-1741	358	5	)	)	PUNCT
framr-1741	358	6	,	,	PUNCT
framr-1741	358	7	237-245.available	237-245.available	NUM
framr-1741	358	8	at	at	ADP
framr-1741	358	9	:	:	PUNCT
framr-1741	358	10	https://doi.org/10.1088/1469-7688/1/2/305	https://doi.org/10.1088/1469-7688/1/2/305	PROPN
framr-1741	358	11	.	.	PUNCT
framr-1741	358	12	engle	engle	PROPN
framr-1741	358	13	,	,	PUNCT
framr-1741	358	14	r.	r.	PROPN
framr-1741	358	15	f.	f.	PROPN
framr-1741	358	16	(	(	PUNCT
framr-1741	358	17	1982	1982	NUM
framr-1741	358	18	)	)	PUNCT
framr-1741	358	19	.	.	PUNCT
framr-1741	359	1	autoregressive	autoregressive	ADJ
framr-1741	359	2	conditional	conditional	ADJ
framr-1741	359	3	heteroskedasticity	heteroskedasticity	NOUN
framr-1741	359	4	with	with	ADP
framr-1741	359	5	estimates	estimate	NOUN
framr-1741	359	6	of	of	ADP
framr-1741	359	7	the	the	DET
framr-1741	359	8	variance	variance	NOUN
framr-1741	359	9	of	of	ADP
framr-1741	359	10	uk	uk	PROPN
framr-1741	359	11	inflation	inflation	NOUN
framr-1741	359	12	.	.	PUNCT
framr-1741	360	1	econometrica	econometrica	PROPN
framr-1741	360	2	,	,	PUNCT
framr-1741	360	3	50(4	50(4	NUM
framr-1741	360	4	)	)	PUNCT
framr-1741	360	5	,	,	PUNCT
framr-1741	360	6	987–1007.available	987–1007.available	ADJ
framr-1741	360	7	at	at	ADP
framr-1741	360	8	:	:	PUNCT
framr-1741	360	9	https://doi.org/10.2307/1912773	https://doi.org/10.2307/1912773	ADJ
framr-1741	360	10	.	.	PUNCT
framr-1741	361	1	fama	fama	PROPN
framr-1741	361	2	,	,	PUNCT
framr-1741	361	3	e.	e.	PROPN
framr-1741	361	4	f.	f.	PROPN
framr-1741	361	5	(	(	PUNCT
framr-1741	361	6	1995	1995	NUM
framr-1741	361	7	)	)	PUNCT
framr-1741	361	8	.	.	PUNCT
framr-1741	362	1	random	random	ADJ
framr-1741	362	2	walks	walk	NOUN
framr-1741	362	3	in	in	ADP
framr-1741	362	4	stock	stock	NOUN
framr-1741	362	5	market	market	NOUN
framr-1741	362	6	prices	price	NOUN
framr-1741	362	7	.	.	PUNCT
framr-1741	363	1	financial	financial	ADJ
framr-1741	363	2	analysts	analyst	NOUN
framr-1741	363	3	journal	journal	NOUN
framr-1741	363	4	,	,	PUNCT
framr-1741	363	5	51(1	51(1	NUM
framr-1741	363	6	)	)	PUNCT
framr-1741	363	7	,	,	PUNCT
framr-1741	363	8	75-80.available	75-80.available	NUM
framr-1741	363	9	at	at	ADP
framr-1741	363	10	:	:	PUNCT
framr-1741	363	11	https://doi.org/10.2469/faj.v51.n1.1861	https://doi.org/10.2469/faj.v51.n1.1861	PROPN
framr-1741	363	12	.	.	PUNCT
framr-1741	364	1	fama	fama	PROPN
framr-1741	364	2	,	,	PUNCT
framr-1741	364	3	e.	e.	PROPN
framr-1741	364	4	f.	f.	PROPN
framr-1741	364	5	(	(	PUNCT
framr-1741	364	6	1970	1970	NUM
framr-1741	364	7	)	)	PUNCT
framr-1741	364	8	.	.	PUNCT
framr-1741	365	1	efficient	efficient	ADJ
framr-1741	365	2	capital	capital	NOUN
framr-1741	365	3	markets	market	NOUN
framr-1741	365	4	:	:	PUNCT
framr-1741	365	5	a	a	DET
framr-1741	365	6	review	review	NOUN
framr-1741	365	7	of	of	ADP
framr-1741	365	8	theory	theory	NOUN
framr-1741	365	9	and	and	CCONJ
framr-1741	365	10	empirical	empirical	ADJ
framr-1741	365	11	work	work	NOUN
framr-1741	365	12	.	.	PUNCT
framr-1741	366	1	journal	journal	PROPN
framr-1741	366	2	of	of	ADP
framr-1741	366	3	finance	finance	NOUN
framr-1741	366	4	,	,	PUNCT
framr-1741	366	5	25(7	25(7	NUM
framr-1741	366	6	)	)	PUNCT
framr-1741	366	7	,	,	PUNCT
framr-1741	366	8	383–417.available	383–417.available	NUM
framr-1741	366	9	at	at	ADP
framr-1741	366	10	:	:	PUNCT
framr-1741	366	11	https://doi.org/10.2307/2325486	https://doi.org/10.2307/2325486	PROPN
framr-1741	366	12	.	.	PUNCT
framr-1741	367	1	fama	fama	PROPN
framr-1741	367	2	,	,	PUNCT
framr-1741	367	3	e.	e.	PROPN
framr-1741	367	4	f.	f.	PROPN
framr-1741	367	5	(	(	PUNCT
framr-1741	367	6	1991	1991	NUM
framr-1741	367	7	)	)	PUNCT
framr-1741	367	8	.	.	PUNCT
framr-1741	368	1	efficient	efficient	ADJ
framr-1741	368	2	capital	capital	NOUN
framr-1741	368	3	markets	market	NOUN
framr-1741	368	4	.	.	PUNCT
framr-1741	369	1	journal	journal	PROPN
framr-1741	369	2	of	of	ADP
framr-1741	369	3	finance	finance	NOUN
framr-1741	369	4	,	,	PUNCT
framr-1741	369	5	1575-1617.available	1575-1617.available	NUM
framr-1741	369	6	at	at	ADP
framr-1741	369	7	:	:	PUNCT
framr-1741	369	8	https://doi.org/10.1111/j.15406261.1991.tb04636.x	https://doi.org/10.1111/j.15406261.1991.tb04636.x	PUNCT
framr-1741	369	9	.	.	PUNCT
framr-1741	370	1	fauzel	fauzel	PROPN
framr-1741	370	2	,	,	PUNCT
framr-1741	370	3	n.	n.	NOUN
framr-1741	370	4	,	,	PUNCT
framr-1741	370	5	&	&	CCONJ
framr-1741	370	6	fauzel	fauzel	PROPN
framr-1741	370	7	,	,	PUNCT
framr-1741	370	8	s.	s.	PROPN
framr-1741	370	9	(	(	PUNCT
framr-1741	370	10	2016	2016	NUM
framr-1741	370	11	)	)	PUNCT
framr-1741	370	12	.	.	PUNCT
framr-1741	371	1	testing	test	VERB
framr-1741	371	2	weak	weak	ADJ
framr-1741	371	3	form	form	NOUN
framr-1741	371	4	efficiency	efficiency	NOUN
framr-1741	371	5	:	:	PUNCT
framr-1741	371	6	an	an	DET
framr-1741	371	7	international	international	ADJ
framr-1741	371	8	market	market	NOUN
framr-1741	371	9	perspective	perspective	NOUN
framr-1741	371	10	.	.	PUNCT
framr-1741	372	1	international	international	ADJ
framr-1741	372	2	review	review	NOUN
framr-1741	372	3	of	of	ADP
framr-1741	372	4	business	business	NOUN
framr-1741	372	5	research	research	NOUN
framr-1741	372	6	papers	paper	NOUN
framr-1741	372	7	,	,	PUNCT
framr-1741	372	8	12(1	12(1	NUM
framr-1741	372	9	)	)	PUNCT
framr-1741	372	10	,	,	PUNCT
framr-1741	372	11	171	171	NUM
framr-1741	372	12	-	-	SYM
framr-1741	372	13	192	192	NUM
framr-1741	372	14	.	.	PUNCT
framr-1741	373	1	ho	ho	PROPN
framr-1741	373	2	,	,	PUNCT
framr-1741	373	3	j.	j.	PROPN
framr-1741	373	4	,	,	PUNCT
framr-1741	373	5	&	&	CCONJ
framr-1741	373	6	hung	hung	PROPN
framr-1741	373	7	,	,	PUNCT
framr-1741	373	8	c.-h	c.-h	PROPN
framr-1741	373	9	.	.	PUNCT
framr-1741	374	1	(	(	PUNCT
framr-1741	374	2	2012	2012	NUM
framr-1741	374	3	)	)	PUNCT
framr-1741	374	4	.	.	PUNCT
framr-1741	375	1	predicting	predict	VERB
framr-1741	375	2	stock	stock	NOUN
framr-1741	375	3	market	market	NOUN
framr-1741	375	4	returns	return	NOUN
framr-1741	375	5	and	and	CCONJ
framr-1741	375	6	volatility	volatility	NOUN
framr-1741	375	7	with	with	ADP
framr-1741	375	8	investor	investor	NOUN
framr-1741	375	9	sentiment	sentiment	NOUN
framr-1741	375	10	:	:	PUNCT
framr-1741	375	11	evidence	evidence	NOUN
framr-1741	375	12	from	from	ADP
framr-1741	375	13	eight	eight	NUM
framr-1741	375	14	developed	developed	ADJ
framr-1741	375	15	countries	country	NOUN
framr-1741	375	16	.	.	PUNCT
framr-1741	376	1	journal	journal	NOUN
framr-1741	376	2	of	of	ADP
framr-1741	376	3	accounting	accounting	NOUN
framr-1741	376	4	and	and	CCONJ
framr-1741	376	5	finance	finance	NOUN
framr-1741	376	6	,	,	PUNCT
framr-1741	376	7	12(4	12(4	NUM
framr-1741	376	8	)	)	PUNCT
framr-1741	376	9	,	,	PUNCT
framr-1741	376	10	49	49	NUM
framr-1741	376	11	-	-	SYM
framr-1741	376	12	65	65	NUM
framr-1741	376	13	.	.	PUNCT
framr-1741	377	1	iqbal	iqbal	PROPN
framr-1741	377	2	,	,	PUNCT
framr-1741	377	3	h.	h.	PROPN
framr-1741	377	4	r.	r.	PROPN
framr-1741	377	5	,	,	PUNCT
framr-1741	377	6	saeed	saeed	PROPN
framr-1741	377	7	,	,	PUNCT
framr-1741	377	8	s.	s.	PROPN
framr-1741	377	9	k.	k.	PROPN
framr-1741	377	10	,	,	PUNCT
framr-1741	377	11	&	&	CCONJ
framr-1741	377	12	shah	shah	PROPN
framr-1741	377	13	,	,	PUNCT
framr-1741	377	14	s.	s.	PROPN
framr-1741	377	15	z.	z.	PROPN
framr-1741	377	16	a.	a.	PROPN
framr-1741	377	17	(	(	PUNCT
framr-1741	377	18	2020	2020	NUM
framr-1741	377	19	)	)	PUNCT
framr-1741	377	20	.	.	PUNCT
framr-1741	378	1	structural	structural	ADJ
framr-1741	378	2	breaks	break	NOUN
framr-1741	378	3	and	and	CCONJ
framr-1741	378	4	volatility	volatility	NOUN
framr-1741	378	5	spillover	spillover	VERB
framr-1741	378	6	in	in	ADP
framr-1741	378	7	southern	southern	ADJ
framr-1741	378	8	asian	asian	ADJ
framr-1741	378	9	economies	economy	NOUN
framr-1741	378	10	.	.	PUNCT
framr-1741	379	1	seisense	seisense	ADJ
framr-1741	379	2	journal	journal	PROPN
framr-1741	379	3	of	of	ADP
framr-1741	379	4	management	management	NOUN
framr-1741	379	5	,	,	PUNCT
framr-1741	379	6	3(1	3(1	NUM
framr-1741	379	7	)	)	PUNCT
framr-1741	379	8	,	,	PUNCT
framr-1741	379	9	64-77.available	64-77.available	ADJ
framr-1741	379	10	at	at	ADP
framr-1741	379	11	:	:	PUNCT
framr-1741	379	12	https://doi.org/10.33215/sjom.v3i1.260	https://doi.org/10.33215/sjom.v3i1.260	PROPN
framr-1741	379	13	.	.	PUNCT
framr-1741	380	1	jebari	jebari	PROPN
framr-1741	380	2	,	,	PUNCT
framr-1741	380	3	o.	o.	PROPN
framr-1741	380	4	,	,	PUNCT
framr-1741	380	5	&	&	CCONJ
framr-1741	380	6	hakmaoui	hakmaoui	PROPN
framr-1741	380	7	,	,	PUNCT
framr-1741	380	8	a.	a.	NOUN
framr-1741	380	9	(	(	PUNCT
framr-1741	380	10	2017	2017	NUM
framr-1741	380	11	)	)	PUNCT
framr-1741	380	12	.	.	PUNCT
framr-1741	381	1	modeling	model	VERB
framr-1741	381	2	persistence	persistence	NOUN
framr-1741	381	3	of	of	ADP
framr-1741	381	4	volatility	volatility	NOUN
framr-1741	381	5	in	in	ADP
framr-1741	381	6	the	the	DET
framr-1741	381	7	moroccan	moroccan	PROPN
framr-1741	381	8	exchange	exchange	NOUN
framr-1741	381	9	market	market	NOUN
framr-1741	381	10	using	use	VERB
framr-1741	381	11	a	a	DET
framr-1741	381	12	fractionally	fractionally	ADV
framr-1741	381	13	integrated	integrate	VERB
framr-1741	381	14	egarch	egarch	NOUN
framr-1741	381	15	.	.	PUNCT
framr-1741	382	1	turkish	turkish	ADJ
framr-1741	382	2	economic	economic	ADJ
framr-1741	382	3	review	review	NOUN
framr-1741	382	4	,	,	PUNCT
framr-1741	382	5	4(4	4(4	NUM
framr-1741	382	6	)	)	PUNCT
framr-1741	382	7	,	,	PUNCT
framr-1741	382	8	389	389	NUM
framr-1741	382	9	-	-	SYM
framr-1741	382	10	399	399	NUM
framr-1741	382	11	.	.	PUNCT
framr-1741	383	1	jegageevan	jegageevan	PROPN
framr-1741	383	2	,	,	PUNCT
framr-1741	383	3	s.	s.	PROPN
framr-1741	383	4	(	(	PUNCT
framr-1741	383	5	2015	2015	NUM
framr-1741	383	6	)	)	PUNCT
framr-1741	383	7	.	.	PUNCT
framr-1741	384	1	return	return	VERB
framr-1741	384	2	volatility	volatility	NOUN
framr-1741	384	3	and	and	CCONJ
framr-1741	384	4	asymmetric	asymmetric	ADJ
framr-1741	384	5	news	news	NOUN
framr-1741	384	6	effect	effect	NOUN
framr-1741	384	7	in	in	ADP
framr-1741	384	8	sri	sri	PROPN
framr-1741	384	9	lankan	lankan	PROPN
framr-1741	384	10	stock	stock	NOUN
framr-1741	384	11	market	market	NOUN
framr-1741	384	12	.	.	PUNCT
framr-1741	385	1	economic	economic	ADJ
framr-1741	385	2	research	research	NOUN
framr-1741	385	3	department	department	PROPN
framr-1741	385	4	:	:	PUNCT
framr-1741	385	5	central	central	ADJ
framr-1741	385	6	bank	bank	PROPN
framr-1741	385	7	of	of	ADP
framr-1741	385	8	sri	sri	PROPN
framr-1741	385	9	lanka	lanka	PROPN
framr-1741	385	10	,	,	PUNCT
framr-1741	385	11	working	work	VERB
framr-1741	385	12	paper	paper	NOUN
framr-1741	385	13	series	series	NOUN
framr-1741	385	14	166	166	NUM
framr-1741	385	15	,	,	PUNCT
framr-1741	385	16	37	37	NUM
framr-1741	385	17	-	-	SYM
framr-1741	385	18	57	57	NUM
framr-1741	385	19	.	.	PUNCT
framr-1741	386	1	khedhiri	khedhiri	PROPN
framr-1741	386	2	,	,	PUNCT
framr-1741	386	3	s.	s.	PROPN
framr-1741	386	4	(	(	PUNCT
framr-1741	386	5	2008	2008	NUM
framr-1741	386	6	)	)	PUNCT
framr-1741	386	7	.	.	PUNCT
framr-1741	387	1	empirical	empirical	ADJ
framr-1741	387	2	analysis	analysis	NOUN
framr-1741	387	3	of	of	ADP
framr-1741	387	4	the	the	DET
framr-1741	387	5	uae	uae	PROPN
framr-1741	387	6	stock	stock	NOUN
framr-1741	387	7	market	market	NOUN
framr-1741	387	8	volatility	volatility	NOUN
framr-1741	387	9	.	.	PUNCT
framr-1741	388	1	international	international	ADJ
framr-1741	388	2	research	research	PROPN
framr-1741	388	3	journal	journal	NOUN
framr-1741	388	4	of	of	ADP
framr-1741	388	5	finance	finance	NOUN
framr-1741	388	6	and	and	CCONJ
framr-1741	388	7	economics	economic	NOUN
framr-1741	388	8	,	,	PUNCT
framr-1741	388	9	15(2	15(2	NUM
framr-1741	388	10	)	)	PUNCT
framr-1741	388	11	,	,	PUNCT
framr-1741	388	12	250	250	NUM
framr-1741	388	13	-	-	SYM
framr-1741	388	14	260	260	NUM
framr-1741	388	15	.	.	PUNCT
framr-1741	389	1	kuhe	kuhe	PROPN
framr-1741	389	2	,	,	PUNCT
framr-1741	389	3	d.	d.	PROPN
framr-1741	389	4	a.	a.	PROPN
framr-1741	389	5	(	(	PUNCT
framr-1741	389	6	2018	2018	NUM
framr-1741	389	7	)	)	PUNCT
framr-1741	389	8	.	.	PUNCT
framr-1741	390	1	modeling	model	VERB
framr-1741	390	2	volatility	volatility	NOUN
framr-1741	390	3	persistence	persistence	NOUN
framr-1741	390	4	and	and	CCONJ
framr-1741	390	5	asymmetry	asymmetry	NOUN
framr-1741	390	6	with	with	ADP
framr-1741	390	7	exogenous	exogenous	ADJ
framr-1741	390	8	breaks	break	NOUN
framr-1741	390	9	in	in	ADP
framr-1741	390	10	the	the	DET
framr-1741	390	11	nigerian	nigerian	ADJ
framr-1741	390	12	stock	stock	NOUN
framr-1741	390	13	returns	return	NOUN
framr-1741	390	14	.	.	PUNCT
framr-1741	391	1	cbn	cbn	PROPN
framr-1741	391	2	journal	journal	PROPN
framr-1741	391	3	of	of	ADP
framr-1741	391	4	applied	applied	ADJ
framr-1741	391	5	statistics	statistic	NOUN
framr-1741	391	6	,	,	PUNCT
framr-1741	391	7	9(1	9(1	NUM
framr-1741	391	8	)	)	PUNCT
framr-1741	391	9	,	,	PUNCT
framr-1741	391	10	167	167	NUM
framr-1741	391	11	-	-	SYM
framr-1741	391	12	196	196	NUM
framr-1741	391	13	.	.	PUNCT
framr-1741	392	1	lai	lai	PROPN
framr-1741	392	2	,	,	PUNCT
framr-1741	392	3	n.	n.	PROPN
framr-1741	392	4	g.	g.	PROPN
framr-1741	392	5	,	,	PUNCT
framr-1741	392	6	cheong	cheong	PROPN
framr-1741	392	7	,	,	PUNCT
framr-1741	392	8	c.	c.	PROPN
framr-1741	392	9	w.	w.	PROPN
framr-1741	392	10	,	,	PUNCT
framr-1741	392	11	&	&	CCONJ
framr-1741	392	12	lee	lee	PROPN
framr-1741	392	13	,	,	PUNCT
framr-1741	392	14	c.	c.	PROPN
framr-1741	392	15	l.	l.	PROPN
framr-1741	392	16	(	(	PUNCT
framr-1741	392	17	2019	2019	NUM
framr-1741	392	18	)	)	PUNCT
framr-1741	392	19	.	.	PUNCT
framr-1741	393	1	modelling	model	VERB
framr-1741	393	2	volatility	volatility	NOUN
framr-1741	393	3	in	in	ADP
framr-1741	393	4	the	the	DET
framr-1741	393	5	presence	presence	NOUN
framr-1741	393	6	of	of	ADP
framr-1741	393	7	abrupt	abrupt	ADJ
framr-1741	393	8	jumps	jump	NOUN
framr-1741	393	9	:	:	PUNCT
framr-1741	393	10	empirical	empirical	ADJ
framr-1741	393	11	evidence	evidence	NOUN
framr-1741	393	12	from	from	ADP
framr-1741	393	13	islamic	islamic	ADJ
framr-1741	393	14	stock	stock	NOUN
framr-1741	393	15	markets	market	NOUN
framr-1741	393	16	.	.	PUNCT
framr-1741	394	1	international	international	ADJ
framr-1741	394	2	journal	journal	PROPN
framr-1741	394	3	of	of	ADP
framr-1741	394	4	economics	economic	NOUN
framr-1741	394	5	and	and	CCONJ
framr-1741	394	6	management	management	NOUN
framr-1741	394	7	,	,	PUNCT
framr-1741	394	8	13(1	13(1	NUM
framr-1741	394	9	)	)	PUNCT
framr-1741	394	10	,	,	PUNCT
framr-1741	394	11	93	93	NUM
framr-1741	394	12	-	-	SYM
framr-1741	394	13	109	109	NUM
framr-1741	394	14	.	.	PUNCT
framr-1741	395	1	lo	lo	PROPN
framr-1741	395	2	,	,	PUNCT
framr-1741	395	3	a.	a.	PROPN
framr-1741	395	4	w.	w.	PROPN
framr-1741	395	5	,	,	PUNCT
framr-1741	395	6	&	&	CCONJ
framr-1741	395	7	mackinlay	mackinlay	PROPN
framr-1741	395	8	,	,	PUNCT
framr-1741	395	9	a.	a.	PROPN
framr-1741	395	10	c.	c.	PROPN
framr-1741	395	11	(	(	PUNCT
framr-1741	395	12	1988	1988	NUM
framr-1741	395	13	)	)	PUNCT
framr-1741	395	14	.	.	PUNCT
framr-1741	396	1	stock	stock	NOUN
framr-1741	396	2	market	market	NOUN
framr-1741	396	3	prices	price	NOUN
framr-1741	396	4	do	do	AUX
framr-1741	396	5	not	not	PART
framr-1741	396	6	follow	follow	VERB
framr-1741	396	7	random	random	ADJ
framr-1741	396	8	walks	walk	NOUN
framr-1741	396	9	:	:	PUNCT
framr-1741	396	10	evidence	evidence	NOUN
framr-1741	396	11	from	from	ADP
framr-1741	396	12	a	a	DET
framr-1741	396	13	simple	simple	ADJ
framr-1741	396	14	specification	specification	NOUN
framr-1741	396	15	test	test	NOUN
framr-1741	396	16	.	.	PUNCT
framr-1741	397	1	the	the	DET
framr-1741	397	2	review	review	NOUN
framr-1741	397	3	of	of	ADP
framr-1741	397	4	financial	financial	ADJ
framr-1741	397	5	studies	study	NOUN
framr-1741	397	6	,	,	PUNCT
framr-1741	397	7	1(1	1(1	NUM
framr-1741	397	8	)	)	PUNCT
framr-1741	397	9	,	,	PUNCT
framr-1741	397	10	41	41	NUM
framr-1741	397	11	-	-	SYM
framr-1741	397	12	66	66	NUM
framr-1741	397	13	.	.	PUNCT
framr-1741	398	1	mandelbrot	mandelbrot	PROPN
framr-1741	398	2	,	,	PUNCT
framr-1741	398	3	b.	b.	PROPN
framr-1741	398	4	(	(	PUNCT
framr-1741	398	5	1963	1963	NUM
framr-1741	398	6	)	)	PUNCT
framr-1741	398	7	.	.	PUNCT
framr-1741	399	1	the	the	DET
framr-1741	399	2	variation	variation	NOUN
framr-1741	399	3	of	of	ADP
framr-1741	399	4	certain	certain	ADJ
framr-1741	399	5	speculative	speculative	ADJ
framr-1741	399	6	prices	price	NOUN
framr-1741	399	7	.	.	PUNCT
framr-1741	400	1	journal	journal	NOUN
framr-1741	400	2	of	of	ADP
framr-1741	400	3	business	business	NOUN
framr-1741	400	4	,	,	PUNCT
framr-1741	400	5	36(5	36(5	NUM
framr-1741	400	6	)	)	PUNCT
framr-1741	400	7	,	,	PUNCT
framr-1741	400	8	394–419	394–419	NUM
framr-1741	400	9	.	.	PUNCT
framr-1741	401	1	musa	musa	PROPN
framr-1741	401	2	,	,	PUNCT
framr-1741	401	3	y.	y.	PROPN
framr-1741	401	4	,	,	PUNCT
framr-1741	401	5	adamu	adamu	PROPN
framr-1741	401	6	,	,	PUNCT
framr-1741	401	7	i.	i.	PROPN
framr-1741	401	8	,	,	PUNCT
framr-1741	401	9	&	&	CCONJ
framr-1741	401	10	dauran	dauran	VERB
framr-1741	401	11	,	,	PUNCT
framr-1741	401	12	m.	m.	NOUN
framr-1741	401	13	s.	s.	PROPN
framr-1741	401	14	(	(	PUNCT
framr-1741	401	15	2020	2020	NUM
framr-1741	401	16	)	)	PUNCT
framr-1741	401	17	.	.	PUNCT
framr-1741	402	1	forecasting	forecasting	NOUN
framr-1741	402	2	of	of	ADP
framr-1741	402	3	the	the	DET
framr-1741	402	4	nigeria	nigeria	PROPN
framr-1741	402	5	stock	stock	NOUN
framr-1741	402	6	returns	return	NOUN
framr-1741	402	7	volatility	volatility	NOUN
framr-1741	402	8	using	use	VERB
framr-1741	402	9	garch	garch	NOUN
framr-1741	402	10	models	model	NOUN
framr-1741	402	11	with	with	ADP
framr-1741	402	12	structural	structural	ADJ
framr-1741	402	13	breaks	break	NOUN
framr-1741	402	14	.	.	PUNCT
framr-1741	403	1	asian	asian	ADJ
framr-1741	403	2	research	research	PROPN
framr-1741	403	3	journal	journal	NOUN
framr-1741	403	4	of	of	ADP
framr-1741	403	5	mathematics	mathematic	NOUN
framr-1741	403	6	,	,	PUNCT
framr-1741	403	7	16(2	16(2	NUM
framr-1741	403	8	)	)	PUNCT
framr-1741	403	9	,	,	PUNCT
framr-1741	403	10	39-50.available	39-50.available	NUM
framr-1741	403	11	at	at	ADP
framr-1741	403	12	:	:	PUNCT
framr-1741	403	13	https://doi:10.9734	https://doi:10.9734	PROPN
framr-1741	403	14	/	/	SYM
framr-1741	403	15	arjom/2020	arjom/2020	PROPN
framr-1741	403	16	/	/	SYM
framr-1741	403	17	v16i230174	v16i230174	NUM
framr-1741	403	18	.	.	PUNCT
framr-1741	403	19	ndei	ndei	PROPN
framr-1741	403	20	,	,	PUNCT
framr-1741	403	21	c.	c.	NOUN
framr-1741	403	22	,	,	PUNCT
framr-1741	403	23	muchina	muchina	PROPN
framr-1741	403	24	,	,	PUNCT
framr-1741	403	25	s.	s.	PROPN
framr-1741	403	26	,	,	PUNCT
framr-1741	403	27	&	&	CCONJ
framr-1741	403	28	wawure	wawure	PROPN
framr-1741	403	29	,	,	PUNCT
framr-1741	403	30	k.	k.	PROPN
framr-1741	403	31	(	(	PUNCT
framr-1741	403	32	2019	2019	NUM
framr-1741	403	33	)	)	PUNCT
framr-1741	403	34	.	.	PUNCT
framr-1741	404	1	modeling	model	VERB
framr-1741	404	2	stock	stock	NOUN
framr-1741	404	3	market	market	NOUN
framr-1741	404	4	return	return	NOUN
framr-1741	404	5	volatility	volatility	NOUN
framr-1741	404	6	in	in	ADP
framr-1741	404	7	the	the	DET
framr-1741	404	8	presence	presence	NOUN
framr-1741	404	9	of	of	ADP
framr-1741	404	10	structural	structural	ADJ
framr-1741	404	11	breaks	break	NOUN
framr-1741	404	12	:	:	PUNCT
framr-1741	404	13	evidence	evidence	NOUN
framr-1741	404	14	from	from	ADP
framr-1741	404	15	nairobi	nairobi	PROPN
framr-1741	404	16	securities	securities	PROPN
framr-1741	404	17	exchange	exchange	PROPN
framr-1741	404	18	,	,	PUNCT
framr-1741	404	19	kenya	kenya	PROPN
framr-1741	404	20	.	.	PUNCT
framr-1741	405	1	international	international	ADJ
framr-1741	405	2	journal	journal	PROPN
framr-1741	405	3	of	of	ADP
framr-1741	405	4	research	research	NOUN
framr-1741	405	5	in	in	ADP
framr-1741	405	6	business	business	NOUN
framr-1741	405	7	and	and	CCONJ
framr-1741	405	8	social	social	ADJ
framr-1741	405	9	science	science	NOUN
framr-1741	405	10	,	,	PUNCT
framr-1741	405	11	8(5	8(5	NUM
framr-1741	405	12	)	)	PUNCT
framr-1741	405	13	,	,	PUNCT
framr-1741	405	14	156-171.available	156-171.available	NUM
framr-1741	405	15	at	at	ADP
framr-1741	405	16	:	:	PUNCT
framr-1741	405	17	https://doi.org/10.20525/ijrbs.v8i5.308	https://doi.org/10.20525/ijrbs.v8i5.308	ADJ
framr-1741	405	18	.	.	PUNCT
framr-1741	406	1	financial	financial	ADJ
framr-1741	406	2	risk	risk	NOUN
framr-1741	406	3	and	and	CCONJ
framr-1741	406	4	management	management	NOUN
framr-1741	406	5	reviews	review	NOUN
framr-1741	406	6	,	,	PUNCT
framr-1741	406	7	2021	2021	NUM
framr-1741	406	8	,	,	PUNCT
framr-1741	406	9	7(1	7(1	NUM
framr-1741	406	10	):	):	PUNCT
framr-1741	406	11	1	1	NUM
framr-1741	406	12	-	-	SYM
framr-1741	406	13	15	15	NUM
framr-1741	406	14	15	15	NUM
framr-1741	406	15	©	©	PROPN
framr-1741	406	16	2021	2021	NUM
framr-1741	406	17	conscientia	conscientia	PROPN
framr-1741	406	18	beam	beam	PROPN
framr-1741	406	19	.	.	PUNCT
framr-1741	407	1	all	all	DET
framr-1741	407	2	rights	right	NOUN
framr-1741	407	3	reserved	reserve	VERB
framr-1741	407	4	.	.	PUNCT
framr-1741	408	1	ndwiga	ndwiga	PROPN
framr-1741	408	2	,	,	PUNCT
framr-1741	408	3	d.	d.	PROPN
framr-1741	408	4	,	,	PUNCT
framr-1741	408	5	&	&	CCONJ
framr-1741	408	6	muriu	muriu	PROPN
framr-1741	408	7	,	,	PUNCT
framr-1741	408	8	p.	p.	PROPN
framr-1741	408	9	w.	w.	PROPN
framr-1741	409	1	(	(	PUNCT
framr-1741	409	2	2016	2016	NUM
framr-1741	409	3	)	)	PUNCT
framr-1741	409	4	.	.	PUNCT
framr-1741	410	1	stock	stock	NOUN
framr-1741	410	2	returns	return	NOUN
framr-1741	410	3	and	and	CCONJ
framr-1741	410	4	volatility	volatility	NOUN
framr-1741	410	5	in	in	ADP
framr-1741	410	6	an	an	DET
framr-1741	410	7	emerging	emerge	VERB
framr-1741	410	8	equity	equity	NOUN
framr-1741	410	9	market	market	NOUN
framr-1741	410	10	:	:	PUNCT
framr-1741	410	11	evidence	evidence	NOUN
framr-1741	410	12	from	from	ADP
framr-1741	410	13	kenya	kenya	PROPN
framr-1741	410	14	.	.	PUNCT
framr-1741	411	1	european	european	ADJ
framr-1741	411	2	scientific	scientific	ADJ
framr-1741	411	3	journal	journal	NOUN
framr-1741	411	4	,	,	PUNCT
framr-1741	411	5	12(4	12(4	NUM
framr-1741	411	6	)	)	PUNCT
framr-1741	411	7	,	,	PUNCT
framr-1741	411	8	79-98.available	79-98.available	ADJ
framr-1741	411	9	at	at	ADP
framr-1741	411	10	:	:	PUNCT
framr-1741	411	11	http://dx.doi.org/10.19044/esj.2016.v12n4p79	http://dx.doi.org/10.19044/esj.2016.v12n4p79	ADJ
framr-1741	411	12	.	.	PUNCT
framr-1741	412	1	nelson	nelson	PROPN
framr-1741	412	2	,	,	PUNCT
framr-1741	412	3	d.	d.	PROPN
framr-1741	412	4	b.	b.	PROPN
framr-1741	412	5	(	(	PUNCT
framr-1741	412	6	1991	1991	NUM
framr-1741	412	7	)	)	PUNCT
framr-1741	412	8	.	.	PUNCT
framr-1741	413	1	conditional	conditional	ADJ
framr-1741	413	2	heteroskedasticity	heteroskedasticity	NOUN
framr-1741	413	3	in	in	ADP
framr-1741	413	4	asset	asset	NOUN
framr-1741	413	5	returns	return	NOUN
framr-1741	413	6	:	:	PUNCT
framr-1741	413	7	a	a	DET
framr-1741	413	8	new	new	ADJ
framr-1741	413	9	approach	approach	NOUN
framr-1741	413	10	.	.	PUNCT
framr-1741	414	1	econometrica	econometrica	PROPN
framr-1741	414	2	,	,	PUNCT
framr-1741	414	3	59(2	59(2	NUM
framr-1741	414	4	)	)	PUNCT
framr-1741	414	5	,	,	PUNCT
framr-1741	414	6	347-370.available	347-370.available	NUM
framr-1741	414	7	at	at	ADP
framr-1741	414	8	:	:	PUNCT
framr-1741	414	9	https://doi.org/10.2307/2938260	https://doi.org/10.2307/2938260	NOUN
framr-1741	414	10	.	.	PUNCT
framr-1741	415	1	onyele	onyele	PROPN
framr-1741	415	2	,	,	PUNCT
framr-1741	415	3	k.	k.	PROPN
framr-1741	415	4	o.	o.	PROPN
framr-1741	415	5	,	,	PUNCT
framr-1741	415	6	opara	opara	NOUN
framr-1741	415	7	,	,	PUNCT
framr-1741	415	8	c.	c.	PROPN
framr-1741	415	9	c.	c.	PROPN
framr-1741	415	10	,	,	PUNCT
framr-1741	415	11	&	&	CCONJ
framr-1741	415	12	ikwuagwu	ikwuagwu	PROPN
framr-1741	415	13	,	,	PUNCT
framr-1741	415	14	e.	e.	PROPN
framr-1741	415	15	b.	b.	PROPN
framr-1741	415	16	(	(	PUNCT
framr-1741	415	17	2017	2017	NUM
framr-1741	415	18	)	)	PUNCT
framr-1741	415	19	.	.	PUNCT
framr-1741	416	1	does	do	VERB
framr-1741	416	2	stock	stock	NOUN
framr-1741	416	3	market	market	NOUN
framr-1741	416	4	performance	performance	NOUN
framr-1741	416	5	influence	influence	NOUN
framr-1741	416	6	capital	capital	NOUN
framr-1741	416	7	flight	flight	NOUN
framr-1741	416	8	from	from	ADP
framr-1741	416	9	nigeria	nigeria	PROPN
framr-1741	416	10	?	?	PUNCT
framr-1741	417	1	international	international	ADJ
framr-1741	417	2	journal	journal	PROPN
framr-1741	417	3	of	of	ADP
framr-1741	417	4	economics	economic	NOUN
framr-1741	417	5	and	and	CCONJ
framr-1741	417	6	business	business	NOUN
framr-1741	417	7	management	management	NOUN
framr-1741	417	8	,	,	PUNCT
framr-1741	417	9	3(7	3(7	NUM
framr-1741	417	10	)	)	PUNCT
framr-1741	417	11	,	,	PUNCT
framr-1741	417	12	22	22	NUM
framr-1741	417	13	-	-	SYM
framr-1741	417	14	37	37	NUM
framr-1741	417	15	.	.	PUNCT
framr-1741	418	1	onyele	onyele	PROPN
framr-1741	418	2	,	,	PUNCT
framr-1741	418	3	k.	k.	PROPN
framr-1741	418	4	,	,	PUNCT
framr-1741	418	5	&	&	CCONJ
framr-1741	418	6	ikwuagwu	ikwuagwu	PROPN
framr-1741	418	7	,	,	PUNCT
framr-1741	418	8	b.	b.	PROPN
framr-1741	418	9	(	(	PUNCT
framr-1741	418	10	2020	2020	NUM
framr-1741	418	11	)	)	PUNCT
framr-1741	418	12	.	.	PUNCT
framr-1741	419	1	the	the	DET
framr-1741	419	2	globalization	globalization	NOUN
framr-1741	419	3	wave	wave	NOUN
framr-1741	419	4	and	and	CCONJ
framr-1741	419	5	stock	stock	NOUN
framr-1741	419	6	market	market	NOUN
framr-1741	419	7	return	return	NOUN
framr-1741	419	8	in	in	ADP
framr-1741	419	9	africa	africa	PROPN
framr-1741	419	10	.	.	PUNCT
framr-1741	420	1	international	international	ADJ
framr-1741	420	2	journal	journal	PROPN
framr-1741	420	3	of	of	ADP
framr-1741	420	4	economics	economic	NOUN
framr-1741	420	5	,	,	PUNCT
framr-1741	420	6	business	business	NOUN
framr-1741	420	7	and	and	CCONJ
framr-1741	420	8	management	management	NOUN
framr-1741	420	9	studies	study	NOUN
framr-1741	420	10	,	,	PUNCT
framr-1741	420	11	7(2	7(2	NUM
framr-1741	420	12	)	)	PUNCT
framr-1741	420	13	,	,	PUNCT
framr-1741	420	14	80-94.available	80-94.available	ADJ
framr-1741	420	15	at	at	ADP
framr-1741	420	16	:	:	PUNCT
framr-1741	420	17	https://doi:10.20448/802.71.80.94	https://doi:10.20448/802.71.80.94	NOUN
framr-1741	420	18	.	.	PUNCT
framr-1741	421	1	onyele	onyele	PROPN
framr-1741	421	2	,	,	PUNCT
framr-1741	421	3	k.	k.	PROPN
framr-1741	421	4	o.	o.	PROPN
framr-1741	421	5	,	,	PUNCT
framr-1741	421	6	ikwuagwu	ikwuagwu	PROPN
framr-1741	421	7	,	,	PUNCT
framr-1741	421	8	e.	e.	PROPN
framr-1741	421	9	b.	b.	PROPN
framr-1741	421	10	,	,	PUNCT
framr-1741	421	11	&	&	CCONJ
framr-1741	421	12	onyekachi	onyekachi	PROPN
framr-1741	421	13	-	-	PUNCT
framr-1741	421	14	onyele	onyele	PROPN
framr-1741	421	15	,	,	PUNCT
framr-1741	421	16	c.	c.	PROPN
framr-1741	421	17	(	(	PUNCT
framr-1741	421	18	2020	2020	NUM
framr-1741	421	19	)	)	PUNCT
framr-1741	421	20	.	.	PUNCT
framr-1741	422	1	macroeconomic	macroeconomic	ADJ
framr-1741	422	2	policies	policy	NOUN
framr-1741	422	3	and	and	CCONJ
framr-1741	422	4	stock	stock	NOUN
framr-1741	422	5	market	market	NOUN
framr-1741	422	6	liquidity	liquidity	NOUN
framr-1741	422	7	:	:	PUNCT
framr-1741	422	8	evidence	evidence	NOUN
framr-1741	422	9	from	from	ADP
framr-1741	422	10	nigeria	nigeria	PROPN
framr-1741	422	11	.	.	PUNCT
framr-1741	423	1	economy	economy	NOUN
framr-1741	423	2	,	,	PUNCT
framr-1741	423	3	7(1	7(1	NUM
framr-1741	423	4	)	)	PUNCT
framr-1741	423	5	,	,	PUNCT
framr-1741	423	6	25-35.available	25-35.available	ADV
framr-1741	423	7	at	at	ADP
framr-1741	423	8	:	:	PUNCT
framr-1741	423	9	https://doi:10.20448	https://doi:10.20448	PROPN
framr-1741	423	10	/	/	SYM
framr-1741	423	11	journal.502.2020.71.25.35	journal.502.2020.71.25.35	PROPN
framr-1741	423	12	.	.	PROPN
framr-1741	423	13	owidi	owidi	PROPN
framr-1741	423	14	,	,	PUNCT
framr-1741	423	15	o.	o.	PROPN
framr-1741	423	16	h.	h.	PROPN
framr-1741	423	17	,	,	PUNCT
framr-1741	423	18	&	&	CCONJ
framr-1741	423	19	mugo	mugo	PROPN
framr-1741	423	20	-	-	PROPN
framr-1741	423	21	waweru	waweru	PROPN
framr-1741	423	22	,	,	PUNCT
framr-1741	423	23	f.	f.	PROPN
framr-1741	423	24	(	(	PUNCT
framr-1741	423	25	2016	2016	NUM
framr-1741	423	26	)	)	PUNCT
framr-1741	423	27	.	.	PUNCT
framr-1741	424	1	analysis	analysis	NOUN
framr-1741	424	2	of	of	ADP
framr-1741	424	3	asymmetric	asymmetric	ADJ
framr-1741	424	4	and	and	CCONJ
framr-1741	424	5	persistence	persistence	NOUN
framr-1741	424	6	in	in	ADP
framr-1741	424	7	stock	stock	NOUN
framr-1741	424	8	return	return	NOUN
framr-1741	424	9	volatility	volatility	NOUN
framr-1741	424	10	in	in	ADP
framr-1741	424	11	the	the	DET
framr-1741	424	12	nairobi	nairobi	PROPN
framr-1741	424	13	securities	securities	PROPN
framr-1741	424	14	exchange	exchange	NOUN
framr-1741	424	15	market	market	NOUN
framr-1741	424	16	phases	phase	NOUN
framr-1741	424	17	.	.	PUNCT
framr-1741	425	1	journal	journal	NOUN
framr-1741	425	2	of	of	ADP
framr-1741	425	3	finance	finance	NOUN
framr-1741	425	4	and	and	CCONJ
framr-1741	425	5	economics	economic	NOUN
framr-1741	425	6	,	,	PUNCT
framr-1741	425	7	4(3	4(3	NUM
framr-1741	425	8	)	)	PUNCT
framr-1741	425	9	,	,	PUNCT
framr-1741	425	10	63-73.available	63-73.available	NUM
framr-1741	425	11	at	at	ADP
framr-1741	425	12	:	:	PUNCT
framr-1741	425	13	https://doi:10.12691	https://doi:10.12691	PROPN
framr-1741	425	14	/	/	SYM
framr-1741	425	15	jfe4	jfe4	PROPN
framr-1741	425	16	-	-	PUNCT
framr-1741	425	17	3	3	NUM
framr-1741	425	18	-	-	SYM
framr-1741	425	19	1	1	NUM
framr-1741	425	20	.	.	PUNCT
framr-1741	426	1	phillips	phillip	NOUN
framr-1741	426	2	,	,	PUNCT
framr-1741	426	3	p.	p.	PROPN
framr-1741	426	4	c.	c.	PROPN
framr-1741	426	5	,	,	PUNCT
framr-1741	426	6	&	&	CCONJ
framr-1741	426	7	perron	perron	PROPN
framr-1741	426	8	,	,	PUNCT
framr-1741	426	9	p.	p.	NOUN
framr-1741	426	10	(	(	PUNCT
framr-1741	426	11	1988	1988	NUM
framr-1741	426	12	)	)	PUNCT
framr-1741	426	13	.	.	PUNCT
framr-1741	427	1	testing	test	VERB
framr-1741	427	2	for	for	ADP
framr-1741	427	3	a	a	DET
framr-1741	427	4	unit	unit	NOUN
framr-1741	427	5	root	root	NOUN
framr-1741	427	6	in	in	ADP
framr-1741	427	7	time	time	NOUN
framr-1741	427	8	series	series	PROPN
framr-1741	427	9	regression	regression	PROPN
framr-1741	427	10	.	.	PUNCT
framr-1741	428	1	biometrika	biometrika	NOUN
framr-1741	428	2	,	,	PUNCT
framr-1741	428	3	75(2	75(2	NUM
framr-1741	428	4	)	)	PUNCT
framr-1741	428	5	,	,	PUNCT
framr-1741	428	6	335-346.available	335-346.available	NUM
framr-1741	428	7	at	at	ADP
framr-1741	428	8	:	:	PUNCT
framr-1741	428	9	https://doi.org/10.1093/biomet/75.2.335	https://doi.org/10.1093/biomet/75.2.335	PROPN
framr-1741	428	10	.	.	PUNCT
framr-1741	428	11	sansa	sansa	PROPN
framr-1741	428	12	,	,	PUNCT
framr-1741	428	13	n.	n.	PROPN
framr-1741	428	14	a.	a.	PROPN
framr-1741	428	15	(	(	PUNCT
framr-1741	428	16	2020	2020	NUM
framr-1741	428	17	)	)	PUNCT
framr-1741	428	18	.	.	PUNCT
framr-1741	429	1	the	the	DET
framr-1741	429	2	impact	impact	NOUN
framr-1741	429	3	of	of	ADP
framr-1741	429	4	the	the	DET
framr-1741	429	5	covid	covid	NOUN
framr-1741	429	6	19	19	NUM
framr-1741	429	7	on	on	ADP
framr-1741	429	8	the	the	DET
framr-1741	429	9	financial	financial	ADJ
framr-1741	429	10	markets	market	NOUN
framr-1741	429	11	:	:	PUNCT
framr-1741	429	12	evidence	evidence	NOUN
framr-1741	429	13	from	from	ADP
framr-1741	429	14	china	china	PROPN
framr-1741	429	15	and	and	CCONJ
framr-1741	429	16	usa	usa	PROPN
framr-1741	429	17	.	.	PROPN
framr-1741	429	18	electronic	electronic	ADJ
framr-1741	429	19	research	research	NOUN
framr-1741	429	20	journal	journal	NOUN
framr-1741	429	21	of	of	ADP
framr-1741	429	22	social	social	ADJ
framr-1741	429	23	sciences	science	NOUN
framr-1741	429	24	and	and	CCONJ
framr-1741	429	25	humanities	humanity	NOUN
framr-1741	429	26	,	,	PUNCT
framr-1741	429	27	2(2	2(2	NUM
framr-1741	429	28	)	)	PUNCT
framr-1741	429	29	,	,	PUNCT
framr-1741	429	30	29	29	NUM
framr-1741	429	31	-	-	SYM
framr-1741	429	32	39	39	NUM
framr-1741	429	33	.	.	PUNCT
framr-1741	430	1	sethapramote	sethapramote	NOUN
framr-1741	430	2	,	,	PUNCT
framr-1741	430	3	y.	y.	PROPN
framr-1741	430	4	,	,	PUNCT
framr-1741	430	5	&	&	CCONJ
framr-1741	430	6	prukumpai	prukumpai	NOUN
framr-1741	430	7	,	,	PUNCT
framr-1741	430	8	s.	s.	PROPN
framr-1741	430	9	(	(	PUNCT
framr-1741	430	10	2012	2012	NUM
framr-1741	430	11	)	)	PUNCT
framr-1741	430	12	.	.	PUNCT
framr-1741	431	1	structural	structural	ADJ
framr-1741	431	2	breaks	break	NOUN
framr-1741	431	3	in	in	ADP
framr-1741	431	4	stock	stock	NOUN
framr-1741	431	5	returns	return	NOUN
framr-1741	431	6	volatility	volatility	NOUN
framr-1741	431	7	:	:	PUNCT
framr-1741	431	8	evidence	evidence	NOUN
framr-1741	431	9	from	from	ADP
framr-1741	431	10	the	the	DET
framr-1741	431	11	stock	stock	NOUN
framr-1741	431	12	exchange	exchange	NOUN
framr-1741	431	13	of	of	ADP
framr-1741	431	14	thailand	thailand	PROPN
framr-1741	431	15	.	.	PUNCT
framr-1741	432	1	the	the	DET
framr-1741	432	2	empirical	empirical	ADJ
framr-1741	432	3	econometrics	econometric	NOUN
framr-1741	432	4	and	and	CCONJ
framr-1741	432	5	quantitative	quantitative	ADJ
framr-1741	432	6	economics	economic	NOUN
framr-1741	432	7	letters	letter	NOUN
framr-1741	432	8	,	,	PUNCT
framr-1741	432	9	1(3	1(3	NUM
framr-1741	432	10	)	)	PUNCT
framr-1741	432	11	,	,	PUNCT
framr-1741	432	12	113	113	NUM
framr-1741	432	13	-	-	SYM
framr-1741	432	14	130	130	NUM
framr-1741	432	15	.	.	PUNCT
framr-1741	433	1	tsay	tsay	PROPN
framr-1741	433	2	,	,	PUNCT
framr-1741	433	3	r.	r.	PROPN
framr-1741	433	4	s.	s.	PROPN
framr-1741	433	5	(	(	PUNCT
framr-1741	433	6	2010	2010	NUM
framr-1741	433	7	)	)	PUNCT
framr-1741	433	8	.	.	PUNCT
framr-1741	434	1	analysis	analysis	NOUN
framr-1741	434	2	of	of	ADP
framr-1741	434	3	financial	financial	ADJ
framr-1741	434	4	time	time	NOUN
framr-1741	434	5	series	series	NOUN
framr-1741	434	6	(	(	PUNCT
framr-1741	434	7	3rd	3rd	ADJ
framr-1741	434	8	ed	ed	NOUN
framr-1741	434	9	.	.	PUNCT
framr-1741	434	10	)	)	PUNCT
framr-1741	434	11	.	.	PUNCT
framr-1741	435	1	hoboken	hoboken	PROPN
framr-1741	435	2	:	:	PUNCT
framr-1741	436	1	john	john	PROPN
framr-1741	436	2	wiley	wiley	PROPN
framr-1741	436	3	&	&	CCONJ
framr-1741	436	4	sons	sons	PROPN
framr-1741	436	5	.	.	PUNCT
framr-1741	437	1	tsuji	tsuji	PROPN
framr-1741	437	2	,	,	PUNCT
framr-1741	437	3	c.	c.	PROPN
framr-1741	437	4	(	(	PUNCT
framr-1741	437	5	2018	2018	NUM
framr-1741	437	6	)	)	PUNCT
framr-1741	437	7	.	.	PUNCT
framr-1741	438	1	return	return	VERB
framr-1741	438	2	transmission	transmission	NOUN
framr-1741	438	3	and	and	CCONJ
framr-1741	438	4	asymmetric	asymmetric	ADJ
framr-1741	438	5	volatility	volatility	NOUN
framr-1741	438	6	spillovers	spillover	NOUN
framr-1741	438	7	between	between	ADP
framr-1741	438	8	oil	oil	NOUN
framr-1741	438	9	futures	future	NOUN
framr-1741	438	10	and	and	CCONJ
framr-1741	438	11	oil	oil	NOUN
framr-1741	438	12	equities	equity	NOUN
framr-1741	438	13	:	:	PUNCT
framr-1741	438	14	new	new	ADJ
framr-1741	438	15	dccmegarch	dccmegarch	NOUN
framr-1741	438	16	analyses	analysis	NOUN
framr-1741	438	17	.	.	PUNCT
framr-1741	439	1	economic	economic	ADJ
framr-1741	439	2	modelling	modelling	NOUN
framr-1741	439	3	,	,	PUNCT
framr-1741	439	4	74(2	74(2	NUM
framr-1741	439	5	)	)	PUNCT
framr-1741	439	6	,	,	PUNCT
framr-1741	439	7	167-185.available	167-185.available	NUM
framr-1741	439	8	at	at	ADP
framr-1741	439	9	:	:	PUNCT
framr-1741	439	10	https://doi.org/10.1016/j.econmod.2018.05.007	https://doi.org/10.1016/j.econmod.2018.05.007	ADJ
framr-1741	439	11	.	.	PUNCT
framr-1741	440	1	wang	wang	PROPN
framr-1741	440	2	,	,	PUNCT
framr-1741	440	3	j.	j.	PROPN
framr-1741	440	4	,	,	PUNCT
framr-1741	440	5	&	&	CCONJ
framr-1741	440	6	yang	yang	PROPN
framr-1741	440	7	,	,	PUNCT
framr-1741	440	8	m.	m.	NOUN
framr-1741	440	9	(	(	PUNCT
framr-1741	440	10	2017	2017	NUM
framr-1741	440	11	)	)	PUNCT
framr-1741	440	12	.	.	PUNCT
framr-1741	441	1	conditional	conditional	ADJ
framr-1741	441	2	volatility	volatility	NOUN
framr-1741	441	3	persistence	persistence	NOUN
framr-1741	441	4	.	.	PUNCT
framr-1741	442	1	european	european	ADJ
framr-1741	442	2	financial	financial	ADJ
framr-1741	442	3	management	management	PROPN
framr-1741	442	4	,	,	PUNCT
framr-1741	442	5	19(4	19(4	PROPN
framr-1741	442	6	)	)	PUNCT
framr-1741	442	7	,	,	PUNCT
framr-1741	442	8	1-60.available	1-60.available	NUM
framr-1741	442	9	at	at	ADP
framr-1741	442	10	:	:	PUNCT
framr-1741	442	11	http://dx.doi.org/10.2139/ssrn.3080693	http://dx.doi.org/10.2139/ssrn.3080693	PROPN
framr-1741	442	12	.	.	PUNCT
framr-1741	443	1	wang	wang	PROPN
framr-1741	443	2	,	,	PUNCT
framr-1741	443	3	j.	j.	PROPN
framr-1741	443	4	,	,	PUNCT
framr-1741	443	5	yao	yao	PROPN
framr-1741	443	6	,	,	PUNCT
framr-1741	443	7	j.	j.	PROPN
framr-1741	443	8	,	,	PUNCT
framr-1741	443	9	&	&	CCONJ
framr-1741	443	10	bonne	bonne	PROPN
framr-1741	443	11	,	,	PUNCT
framr-1741	443	12	g.	g.	PROPN
framr-1741	443	13	(	(	PUNCT
framr-1741	443	14	2020	2020	NUM
framr-1741	443	15	)	)	PUNCT
framr-1741	443	16	.	.	PUNCT
framr-1741	444	1	the	the	DET
framr-1741	444	2	coronavirus	coronavirus	NOUN
framr-1741	444	3	market	market	NOUN
framr-1741	444	4	impact	impact	NOUN
framr-1741	444	5	spreads	spread	VERB
framr-1741	444	6	globally	globally	ADV
framr-1741	444	7	.	.	PUNCT
framr-1741	445	1	retrieved	retrieve	VERB
framr-1741	445	2	from	from	ADP
framr-1741	445	3	https://www.msci.com/www/blog-posts/the-coronavirus-market-impact/01732620365	https://www.msci.com/www/blog-posts/the-coronavirus-market-impact/01732620365	PROPN
framr-1741	445	4	.	.	PUNCT
framr-1741	446	1	wang	wang	PROPN
framr-1741	446	2	,	,	PUNCT
framr-1741	446	3	c.	c.	PROPN
framr-1741	446	4	,	,	PUNCT
framr-1741	446	5	huang	huang	PROPN
framr-1741	446	6	,	,	PUNCT
framr-1741	446	7	c.	c.	PROPN
framr-1741	446	8	,	,	PUNCT
framr-1741	446	9	&	&	CCONJ
framr-1741	446	10	padmanabhan	padmanabhan	PROPN
framr-1741	446	11	,	,	PUNCT
framr-1741	446	12	p.	p.	NOUN
framr-1741	446	13	(	(	PUNCT
framr-1741	446	14	2015	2015	NUM
framr-1741	446	15	)	)	PUNCT
framr-1741	446	16	.	.	PUNCT
framr-1741	447	1	transitory	transitory	ADJ
framr-1741	447	2	and	and	CCONJ
framr-1741	447	3	permanent	permanent	ADJ
framr-1741	447	4	volatility	volatility	NOUN
framr-1741	447	5	components	component	NOUN
framr-1741	447	6	in	in	ADP
framr-1741	447	7	the	the	DET
framr-1741	447	8	main	main	ADJ
framr-1741	447	9	us	us	PROPN
framr-1741	447	10	etf	etf	NOUN
framr-1741	447	11	markets	market	NOUN
framr-1741	447	12	:	:	PUNCT
framr-1741	447	13	an	an	DET
framr-1741	447	14	empirical	empirical	ADJ
framr-1741	447	15	analysis	analysis	NOUN
framr-1741	447	16	.	.	PUNCT
framr-1741	448	1	frontiers	frontier	NOUN
framr-1741	448	2	in	in	ADP
framr-1741	448	3	finance	finance	NOUN
framr-1741	448	4	and	and	CCONJ
framr-1741	448	5	economics	economic	NOUN
framr-1741	448	6	,	,	PUNCT
framr-1741	448	7	13(2	13(2	PROPN
framr-1741	448	8	)	)	PUNCT
framr-1741	448	9	,	,	PUNCT
framr-1741	448	10	19	19	NUM
framr-1741	448	11	-	-	SYM
framr-1741	448	12	40	40	NUM
framr-1741	448	13	.	.	PUNCT
framr-1741	449	1	wei	wei	PROPN
framr-1741	449	2	,	,	PUNCT
framr-1741	449	3	c.-c	c.-c	PROPN
framr-1741	449	4	.	.	PUNCT
framr-1741	449	5	(	(	PUNCT
framr-1741	449	6	2009	2009	NUM
framr-1741	449	7	)	)	PUNCT
framr-1741	449	8	.	.	PUNCT
framr-1741	450	1	an	an	DET
framr-1741	450	2	empirical	empirical	ADJ
framr-1741	450	3	analysis	analysis	NOUN
framr-1741	450	4	of	of	ADP
framr-1741	450	5	the	the	DET
framr-1741	450	6	taiwan	taiwan	PROPN
framr-1741	450	7	institutional	institutional	ADJ
framr-1741	450	8	trading	trading	NOUN
framr-1741	450	9	volume	volume	NOUN
framr-1741	450	10	volatility	volatility	NOUN
framr-1741	450	11	spillover	spillover	VERB
framr-1741	450	12	on	on	ADP
framr-1741	450	13	stock	stock	NOUN
framr-1741	450	14	market	market	NOUN
framr-1741	450	15	index	index	NOUN
framr-1741	450	16	return	return	NOUN
framr-1741	450	17	.	.	PUNCT
framr-1741	451	1	economics	economic	NOUN
framr-1741	451	2	bulletin	bulletin	NOUN
framr-1741	451	3	,	,	PUNCT
framr-1741	451	4	29(2	29(2	NUM
framr-1741	451	5	)	)	PUNCT
framr-1741	451	6	,	,	PUNCT
framr-1741	451	7	1264	1264	NUM
framr-1741	451	8	-	-	SYM
framr-1741	451	9	1275	1275	NUM
framr-1741	451	10	.	.	PUNCT
framr-1741	452	1	zakoian	zakoian	NOUN
framr-1741	452	2	,	,	PUNCT
framr-1741	452	3	j.-m	j.-m	PROPN
framr-1741	452	4	.	.	PUNCT
framr-1741	453	1	(	(	PUNCT
framr-1741	453	2	1994	1994	NUM
framr-1741	453	3	)	)	PUNCT
framr-1741	453	4	.	.	PUNCT
framr-1741	454	1	threshold	threshold	PROPN
framr-1741	454	2	heteroskedastic	heteroskedastic	ADJ
framr-1741	454	3	models	model	NOUN
framr-1741	454	4	.	.	PUNCT
framr-1741	455	1	journal	journal	NOUN
framr-1741	455	2	of	of	ADP
framr-1741	455	3	economic	economic	ADJ
framr-1741	455	4	dynamics	dynamic	NOUN
framr-1741	455	5	and	and	CCONJ
framr-1741	455	6	control	control	NOUN
framr-1741	455	7	,	,	PUNCT
framr-1741	455	8	18(5	18(5	NUM
framr-1741	455	9	)	)	PUNCT
framr-1741	455	10	,	,	PUNCT
framr-1741	455	11	931-955.available	931-955.available	NUM
framr-1741	455	12	at	at	ADP
framr-1741	455	13	:	:	PUNCT
framr-1741	455	14	https://doi.org/10.1016/0165-1889(94)90039-6	https://doi.org/10.1016/0165-1889(94)90039-6	NOUN
framr-1741	455	15	.	.	NOUN
framr-1741	455	16	views	view	NOUN
framr-1741	455	17	and	and	CCONJ
framr-1741	455	18	opinions	opinion	NOUN
framr-1741	455	19	expressed	express	VERB
framr-1741	455	20	in	in	ADP
framr-1741	455	21	this	this	DET
framr-1741	455	22	article	article	NOUN
framr-1741	455	23	are	be	AUX
framr-1741	455	24	the	the	DET
framr-1741	455	25	views	view	NOUN
framr-1741	455	26	and	and	CCONJ
framr-1741	455	27	opinions	opinion	NOUN
framr-1741	455	28	of	of	ADP
framr-1741	455	29	the	the	DET
framr-1741	455	30	author(s	author(s	NOUN
framr-1741	455	31	)	)	PUNCT
framr-1741	455	32	,	,	PUNCT
framr-1741	455	33	financial	financial	ADJ
framr-1741	455	34	risk	risk	NOUN
framr-1741	455	35	and	and	CCONJ
framr-1741	455	36	management	management	NOUN
framr-1741	455	37	reviews	review	NOUN
framr-1741	455	38	shall	shall	AUX
framr-1741	455	39	not	not	PART
framr-1741	455	40	be	be	AUX
framr-1741	455	41	responsible	responsible	ADJ
framr-1741	455	42	or	or	CCONJ
framr-1741	455	43	answerable	answerable	ADJ
framr-1741	455	44	for	for	ADP
framr-1741	455	45	any	any	DET
framr-1741	455	46	loss	loss	NOUN
framr-1741	455	47	,	,	PUNCT
framr-1741	455	48	damage	damage	NOUN
framr-1741	455	49	or	or	CCONJ
framr-1741	455	50	liability	liability	NOUN
framr-1741	455	51	etc	etc	X
framr-1741	455	52	.	.	X
framr-1741	455	53	caused	cause	VERB
framr-1741	455	54	in	in	ADP
framr-1741	455	55	relation	relation	NOUN
framr-1741	455	56	to	to	PART
framr-1741	455	57	/	/	PUNCT
framr-1741	455	58	arising	arise	VERB
framr-1741	455	59	out	out	ADP
framr-1741	455	60	of	of	ADP
framr-1741	455	61	the	the	DET
framr-1741	455	62	use	use	NOUN
framr-1741	455	63	of	of	ADP
framr-1741	455	64	the	the	DET
framr-1741	455	65	content	content	NOUN
framr-1741	455	66	.	.	PUNCT
framr-1741	456	1	http://dx.doi.org/10.19044/esj.2016.v12n4p79	http://dx.doi.org/10.19044/esj.2016.v12n4p79	NOUN
framr-1741	456	2	http://dx.doi.org/10.2139/ssrn.3080693	http://dx.doi.org/10.2139/ssrn.3080693	VERB
framr-1741	457	1	http://www.msci.com/www/blog-posts/the-coronavirus-market-impact/01732620365	http://www.msci.com/www/blog-posts/the-coronavirus-market-impact/01732620365	NOUN