id	sid	tid	token	lemma	pos
fsr-3185	1	1	finser_23_1	finser_23_1	PROPN
fsr-3185	1	2	downside	downside	ADJ
fsr-3185	1	3	risk	risk	NOUN
fsr-3185	1	4	:	:	PUNCT
fsr-3185	1	5	what	what	PRON
fsr-3185	1	6	the	the	DET
fsr-3185	1	7	consumer	consumer	NOUN
fsr-3185	1	8	sentiment	sentiment	NOUN
fsr-3185	1	9	index	index	NOUN
fsr-3185	1	10	reveals	reveal	VERB
fsr-3185	1	11	mark	mark	PROPN
fsr-3185	1	12	a.	a.	PROPN
fsr-3185	1	13	johnsona	johnsona	PROPN
fsr-3185	1	14	,	,	PUNCT
fsr-3185	1	15	*	*	SYM
fsr-3185	1	16	,	,	PUNCT
fsr-3185	1	17	atsuyuki	atsuyuki	NOUN
fsr-3185	1	18	nakab	nakab	NOUN
fsr-3185	1	19	adepartment	adepartment	NOUN
fsr-3185	1	20	of	of	ADP
fsr-3185	1	21	finance	finance	NOUN
fsr-3185	1	22	,	,	PUNCT
fsr-3185	1	23	the	the	DET
fsr-3185	1	24	sellinger	sellinger	ADJ
fsr-3185	1	25	school	school	NOUN
fsr-3185	1	26	of	of	ADP
fsr-3185	1	27	business	business	NOUN
fsr-3185	1	28	and	and	CCONJ
fsr-3185	1	29	management	management	NOUN
fsr-3185	1	30	,	,	PUNCT
fsr-3185	1	31	loyola	loyola	PROPN
fsr-3185	1	32	university	university	PROPN
fsr-3185	1	33	maryland	maryland	NOUN
fsr-3185	1	34	,	,	PUNCT
fsr-3185	1	35	4501	4501	NUM
fsr-3185	1	36	north	north	PROPN
fsr-3185	1	37	charles	charles	PROPN
fsr-3185	1	38	street	street	PROPN
fsr-3185	1	39	,	,	PUNCT
fsr-3185	1	40	baltimore	baltimore	PROPN
fsr-3185	1	41	,	,	PUNCT
fsr-3185	1	42	md	md	PROPN
fsr-3185	1	43	21210	21210	NUM
fsr-3185	1	44	,	,	PUNCT
fsr-3185	1	45	usa	usa	PROPN
fsr-3185	1	46	bdepartment	bdepartment	NOUN
fsr-3185	1	47	of	of	ADP
fsr-3185	1	48	economics	economic	NOUN
fsr-3185	1	49	and	and	CCONJ
fsr-3185	1	50	finance	finance	NOUN
fsr-3185	1	51	,	,	PUNCT
fsr-3185	1	52	college	college	NOUN
fsr-3185	1	53	of	of	ADP
fsr-3185	1	54	business	business	PROPN
fsr-3185	1	55	administration	administration	PROPN
fsr-3185	1	56	,	,	PUNCT
fsr-3185	1	57	university	university	NOUN
fsr-3185	1	58	of	of	ADP
fsr-3185	1	59	new	new	PROPN
fsr-3185	1	60	orleans	orleans	PROPN
fsr-3185	1	61	,	,	PUNCT
fsr-3185	1	62	2000	2000	NUM
fsr-3185	1	63	lakeshore	lakeshore	PROPN
fsr-3185	1	64	drive	drive	NOUN
fsr-3185	1	65	,	,	PUNCT
fsr-3185	1	66	new	new	PROPN
fsr-3185	1	67	orleans	orleans	PROPN
fsr-3185	1	68	,	,	PUNCT
fsr-3185	1	69	la	la	PROPN
fsr-3185	1	70	70148	70148	NUM
fsr-3185	1	71	,	,	PUNCT
fsr-3185	1	72	usa	usa	PROPN
fsr-3185	1	73	abstract	abstract	PROPN
fsr-3185	1	74	this	this	DET
fsr-3185	1	75	article	article	NOUN
fsr-3185	1	76	examines	examine	VERB
fsr-3185	1	77	the	the	DET
fsr-3185	1	78	ability	ability	NOUN
fsr-3185	1	79	of	of	ADP
fsr-3185	1	80	consumer	consumer	NOUN
fsr-3185	1	81	sentiment	sentiment	NOUN
fsr-3185	1	82	for	for	ADP
fsr-3185	1	83	different	different	ADJ
fsr-3185	1	84	age	age	NOUN
fsr-3185	1	85	groups	group	NOUN
fsr-3185	1	86	to	to	PART
fsr-3185	1	87	forecast	forecast	VERB
fsr-3185	1	88	short	short	ADJ
fsr-3185	1	89	-	-	PUNCT
fsr-3185	1	90	term	term	NOUN
fsr-3185	1	91	as	as	ADV
fsr-3185	1	92	well	well	ADV
fsr-3185	1	93	as	as	ADP
fsr-3185	1	94	long	long	ADJ
fsr-3185	1	95	-	-	PUNCT
fsr-3185	1	96	term	term	NOUN
fsr-3185	1	97	equity	equity	NOUN
fsr-3185	1	98	returns	return	NOUN
fsr-3185	1	99	.	.	PUNCT
fsr-3185	2	1	using	use	VERB
fsr-3185	2	2	a	a	DET
fsr-3185	2	3	long	long	ADJ
fsr-3185	2	4	-	-	PUNCT
fsr-3185	2	5	horizon	horizon	NOUN
fsr-3185	2	6	asymmetric	asymmetric	ADJ
fsr-3185	2	7	response	response	NOUN
fsr-3185	2	8	regression	regression	NOUN
fsr-3185	2	9	format	format	NOUN
fsr-3185	2	10	,	,	PUNCT
fsr-3185	2	11	we	we	PRON
fsr-3185	2	12	show	show	VERB
fsr-3185	2	13	that	that	SCONJ
fsr-3185	2	14	negative	negative	ADJ
fsr-3185	2	15	changes	change	NOUN
fsr-3185	2	16	in	in	ADP
fsr-3185	2	17	sentiment	sentiment	NOUN
fsr-3185	2	18	have	have	VERB
fsr-3185	2	19	a	a	DET
fsr-3185	2	20	greater	great	ADJ
fsr-3185	2	21	influence	influence	NOUN
fsr-3185	2	22	on	on	ADP
fsr-3185	2	23	stock	stock	NOUN
fsr-3185	2	24	returns	return	NOUN
fsr-3185	2	25	than	than	ADP
fsr-3185	2	26	positive	positive	ADJ
fsr-3185	2	27	changes	change	NOUN
fsr-3185	2	28	in	in	ADP
fsr-3185	2	29	sentiment	sentiment	NOUN
fsr-3185	2	30	.	.	PUNCT
fsr-3185	3	1	our	our	PRON
fsr-3185	3	2	findings	finding	NOUN
fsr-3185	3	3	are	be	AUX
fsr-3185	3	4	supportive	supportive	ADJ
fsr-3185	3	5	of	of	ADP
fsr-3185	3	6	the	the	DET
fsr-3185	3	7	prospect	prospect	NOUN
fsr-3185	3	8	theory	theory	NOUN
fsr-3185	3	9	.	.	PUNCT
fsr-3185	4	1	however	however	ADV
fsr-3185	4	2	,	,	PUNCT
fsr-3185	4	3	we	we	PRON
fsr-3185	4	4	observe	observe	VERB
fsr-3185	4	5	that	that	SCONJ
fsr-3185	4	6	younger	young	ADJ
fsr-3185	4	7	individuals	individual	NOUN
fsr-3185	4	8	appear	appear	VERB
fsr-3185	4	9	to	to	PART
fsr-3185	4	10	be	be	AUX
fsr-3185	4	11	less	less	ADJ
fsr-3185	4	12	risk	risk	NOUN
fsr-3185	4	13	-	-	PUNCT
fsr-3185	4	14	averse	averse	ADJ
fsr-3185	4	15	than	than	ADP
fsr-3185	4	16	older	old	ADJ
fsr-3185	4	17	individuals	individual	NOUN
fsr-3185	4	18	.	.	PUNCT
fsr-3185	5	1	we	we	PRON
fsr-3185	5	2	provide	provide	VERB
fsr-3185	5	3	evidence	evidence	NOUN
fsr-3185	5	4	that	that	PRON
fsr-3185	5	5	reminds	remind	VERB
fsr-3185	5	6	individual	individual	ADJ
fsr-3185	5	7	investors	investor	NOUN
fsr-3185	5	8	and	and	CCONJ
fsr-3185	5	9	financial	financial	ADJ
fsr-3185	5	10	planners	planner	NOUN
fsr-3185	5	11	that	that	PRON
fsr-3185	5	12	risk	risk	NOUN
fsr-3185	5	13	is	be	AUX
fsr-3185	5	14	an	an	DET
fsr-3185	5	15	important	important	ADJ
fsr-3185	5	16	consideration	consideration	NOUN
fsr-3185	5	17	when	when	SCONJ
fsr-3185	5	18	investing	investing	NOUN
fsr-3185	5	19	,	,	PUNCT
fsr-3185	5	20	and	and	CCONJ
fsr-3185	5	21	that	that	SCONJ
fsr-3185	5	22	demographic	demographic	ADJ
fsr-3185	5	23	characteristics	characteristic	NOUN
fsr-3185	5	24	matter	matter	NOUN
fsr-3185	5	25	when	when	SCONJ
fsr-3185	5	26	determining	determine	VERB
fsr-3185	5	27	appropriate	appropriate	ADJ
fsr-3185	5	28	investing	investing	NOUN
fsr-3185	5	29	approaches	approach	NOUN
fsr-3185	5	30	and	and	CCONJ
fsr-3185	5	31	risk	risk	NOUN
fsr-3185	5	32	tolerance	tolerance	NOUN
fsr-3185	5	33	.	.	PUNCT
fsr-3185	6	1	©	©	PROPN
fsr-3185	6	2	2014	2014	NUM
fsr-3185	6	3	academy	academy	NOUN
fsr-3185	6	4	of	of	ADP
fsr-3185	6	5	financial	financial	ADJ
fsr-3185	6	6	services	service	NOUN
fsr-3185	6	7	.	.	PUNCT
fsr-3185	7	1	all	all	DET
fsr-3185	7	2	rights	right	NOUN
fsr-3185	7	3	reserved	reserve	VERB
fsr-3185	7	4	.	.	PUNCT
fsr-3185	8	1	jel	jel	PROPN
fsr-3185	8	2	classifications	classifications	PROPN
fsr-3185	8	3	:	:	PUNCT
fsr-3185	8	4	g10	g10	PROPN
fsr-3185	8	5	;	;	PUNCT
fsr-3185	8	6	d03	d03	NOUN
fsr-3185	8	7	;	;	PUNCT
fsr-3185	8	8	d12	d12	ADJ
fsr-3185	8	9	keywords	keyword	NOUN
fsr-3185	8	10	:	:	PUNCT
fsr-3185	8	11	consumer	consumer	NOUN
fsr-3185	8	12	sentiment	sentiment	NOUN
fsr-3185	8	13	;	;	PUNCT
fsr-3185	8	14	downside	downside	ADJ
fsr-3185	8	15	risk	risk	NOUN
fsr-3185	8	16	;	;	PUNCT
fsr-3185	8	17	asymmetric	asymmetric	ADJ
fsr-3185	8	18	response	response	NOUN
fsr-3185	8	19	;	;	PUNCT
fsr-3185	8	20	long	long	ADJ
fsr-3185	8	21	-	-	PUNCT
fsr-3185	8	22	horizon	horizon	NOUN
fsr-3185	8	23	regression	regression	NOUN
fsr-3185	8	24	1	1	NUM
fsr-3185	8	25	.	.	PUNCT
fsr-3185	8	26	introduction	introduction	NOUN
fsr-3185	8	27	consumer	consumer	NOUN
fsr-3185	8	28	sentiment	sentiment	NOUN
fsr-3185	8	29	is	be	AUX
fsr-3185	8	30	based	base	VERB
fsr-3185	8	31	on	on	ADP
fsr-3185	8	32	factors	factor	NOUN
fsr-3185	8	33	such	such	ADJ
fsr-3185	8	34	as	as	ADP
fsr-3185	8	35	unemployment	unemployment	NOUN
fsr-3185	8	36	rates	rate	NOUN
fsr-3185	8	37	,	,	PUNCT
fsr-3185	8	38	wages	wage	NOUN
fsr-3185	8	39	,	,	PUNCT
fsr-3185	8	40	expected	expect	VERB
fsr-3185	8	41	inflation	inflation	NOUN
fsr-3185	8	42	,	,	PUNCT
fsr-3185	8	43	interest	interest	NOUN
fsr-3185	8	44	rates	rate	NOUN
fsr-3185	8	45	,	,	PUNCT
fsr-3185	8	46	and	and	CCONJ
fsr-3185	8	47	other	other	ADJ
fsr-3185	8	48	prevailing	prevail	VERB
fsr-3185	8	49	market	market	NOUN
fsr-3185	8	50	circumstances	circumstance	NOUN
fsr-3185	8	51	.	.	PUNCT
fsr-3185	9	1	research	research	NOUN
fsr-3185	9	2	indicates	indicate	VERB
fsr-3185	9	3	that	that	SCONJ
fsr-3185	9	4	consumer	consumer	NOUN
fsr-3185	9	5	sentiment	sentiment	NOUN
fsr-3185	9	6	concerning	concern	VERB
fsr-3185	9	7	current	current	ADJ
fsr-3185	9	8	and	and	CCONJ
fsr-3185	9	9	future	future	ADJ
fsr-3185	9	10	economic	economic	ADJ
fsr-3185	9	11	conditions	condition	NOUN
fsr-3185	9	12	can	can	AUX
fsr-3185	9	13	affect	affect	VERB
fsr-3185	9	14	the	the	DET
fsr-3185	9	15	outcomes	outcome	NOUN
fsr-3185	9	16	of	of	ADP
fsr-3185	9	17	financial	financial	ADJ
fsr-3185	9	18	assets.1	assets.1	PROPN
fsr-3185	9	19	further	further	ADJ
fsr-3185	9	20	clarification	clarification	NOUN
fsr-3185	9	21	of	of	ADP
fsr-3185	9	22	the	the	DET
fsr-3185	9	23	dynamics	dynamic	NOUN
fsr-3185	9	24	of	of	ADP
fsr-3185	9	25	this	this	DET
fsr-3185	9	26	relationship	relationship	NOUN
fsr-3185	9	27	will	will	AUX
fsr-3185	9	28	improve	improve	VERB
fsr-3185	9	29	the	the	DET
fsr-3185	9	30	understanding	understanding	NOUN
fsr-3185	9	31	of	of	ADP
fsr-3185	9	32	how	how	SCONJ
fsr-3185	9	33	the	the	DET
fsr-3185	9	34	sentiment	sentiment	NOUN
fsr-3185	9	35	affects	affect	VERB
fsr-3185	9	36	equity	equity	NOUN
fsr-3185	9	37	returns	return	NOUN
fsr-3185	9	38	.	.	PUNCT
fsr-3185	10	1	the	the	DET
fsr-3185	10	2	importance	importance	NOUN
fsr-3185	10	3	of	of	ADP
fsr-3185	10	4	*	*	PUNCT
fsr-3185	10	5	corresponding	correspond	VERB
fsr-3185	10	6	author	author	NOUN
fsr-3185	10	7	.	.	PUNCT
fsr-3185	11	1	tel	tel	PROPN
fsr-3185	11	2	.	.	PUNCT
fsr-3185	11	3	:	:	PUNCT
fsr-3185	11	4	!	!	PUNCT
fsr-3185	12	1	1	1	NUM
fsr-3185	12	2	-	-	SYM
fsr-3185	12	3	410	410	NUM
fsr-3185	12	4	-	-	PUNCT
fsr-3185	12	5	617	617	NUM
fsr-3185	12	6	-	-	PUNCT
fsr-3185	12	7	2473	2473	NUM
fsr-3185	12	8	fax	fax	NOUN
fsr-3185	12	9	:	:	PUNCT
fsr-3185	12	10	!	!	PUNCT
fsr-3185	12	11	1	1	NUM
fsr-3185	12	12	-	-	SYM
fsr-3185	12	13	410	410	NUM
fsr-3185	12	14	-	-	PUNCT
fsr-3185	12	15	617	617	NUM
fsr-3185	12	16	-	-	SYM
fsr-3185	12	17	5035	5035	NUM
fsr-3185	12	18	e	e	NOUN
fsr-3185	12	19	-	-	NOUN
fsr-3185	12	20	mail	mail	NOUN
fsr-3185	12	21	address	address	NOUN
fsr-3185	12	22	:	:	PUNCT
fsr-3185	13	1	majohnson@loyola.edu	majohnson@loyola.edu	PROPN
fsr-3185	13	2	(	(	PUNCT
fsr-3185	13	3	m.a	m.a	PROPN
fsr-3185	13	4	.	.	PROPN
fsr-3185	13	5	johnson	johnson	PROPN
fsr-3185	13	6	)	)	PUNCT
fsr-3185	13	7	financial	financial	ADJ
fsr-3185	13	8	services	service	NOUN
fsr-3185	13	9	review	review	VERB
fsr-3185	13	10	23	23	NUM
fsr-3185	13	11	(	(	PUNCT
fsr-3185	13	12	2014	2014	NUM
fsr-3185	13	13	)	)	PUNCT
fsr-3185	13	14	45–61	45–61	NUM
fsr-3185	13	15	1057	1057	NUM
fsr-3185	13	16	-	-	SYM
fsr-3185	13	17	0810/14/$	0810/14/$	NUM
fsr-3185	13	18	–	–	PUNCT
fsr-3185	13	19	see	see	VERB
fsr-3185	13	20	front	front	ADJ
fsr-3185	13	21	matter	matter	NOUN
fsr-3185	14	1	©	©	PROPN
fsr-3185	14	2	2014	2014	NUM
fsr-3185	14	3	academy	academy	NOUN
fsr-3185	14	4	of	of	ADP
fsr-3185	14	5	financial	financial	ADJ
fsr-3185	14	6	services	service	NOUN
fsr-3185	14	7	.	.	PUNCT
fsr-3185	15	1	all	all	DET
fsr-3185	15	2	rights	right	NOUN
fsr-3185	15	3	reserved	reserve	VERB
fsr-3185	15	4	.	.	PUNCT
fsr-3185	16	1	this	this	DET
fsr-3185	16	2	relationship	relationship	NOUN
fsr-3185	16	3	has	have	VERB
fsr-3185	16	4	the	the	DET
fsr-3185	16	5	potential	potential	NOUN
fsr-3185	16	6	to	to	PART
fsr-3185	16	7	aid	aid	VERB
fsr-3185	16	8	investors	investor	NOUN
fsr-3185	16	9	,	,	PUNCT
fsr-3185	16	10	especially	especially	ADV
fsr-3185	16	11	individual	individual	ADJ
fsr-3185	16	12	investors	investor	NOUN
fsr-3185	16	13	,	,	PUNCT
fsr-3185	16	14	and	and	CCONJ
fsr-3185	16	15	financial	financial	ADJ
fsr-3185	16	16	planners	planner	NOUN
fsr-3185	16	17	as	as	SCONJ
fsr-3185	16	18	they	they	PRON
fsr-3185	16	19	seek	seek	VERB
fsr-3185	16	20	to	to	PART
fsr-3185	16	21	understand	understand	VERB
fsr-3185	16	22	and	and	CCONJ
fsr-3185	16	23	identify	identify	VERB
fsr-3185	16	24	useful	useful	ADJ
fsr-3185	16	25	economic	economic	ADJ
fsr-3185	16	26	indicators	indicator	NOUN
fsr-3185	16	27	that	that	PRON
fsr-3185	16	28	can	can	AUX
fsr-3185	16	29	potentially	potentially	ADV
fsr-3185	16	30	help	help	VERB
fsr-3185	16	31	forecast	forecast	VERB
fsr-3185	16	32	stock	stock	NOUN
fsr-3185	16	33	returns	return	NOUN
fsr-3185	16	34	.	.	PUNCT
fsr-3185	17	1	consumer	consumer	NOUN
fsr-3185	17	2	sentiment	sentiment	NOUN
fsr-3185	17	3	surveys	survey	NOUN
fsr-3185	17	4	generally	generally	ADV
fsr-3185	17	5	ask	ask	VERB
fsr-3185	17	6	individuals	individual	NOUN
fsr-3185	17	7	how	how	SCONJ
fsr-3185	17	8	they	they	PRON
fsr-3185	17	9	feel	feel	VERB
fsr-3185	17	10	about	about	ADP
fsr-3185	17	11	their	their	PRON
fsr-3185	17	12	current	current	ADJ
fsr-3185	17	13	economic	economic	ADJ
fsr-3185	17	14	situation	situation	NOUN
fsr-3185	17	15	and	and	CCONJ
fsr-3185	17	16	how	how	SCONJ
fsr-3185	17	17	they	they	PRON
fsr-3185	17	18	perceive	perceive	VERB
fsr-3185	17	19	their	their	PRON
fsr-3185	17	20	future	future	ADJ
fsr-3185	17	21	economic	economic	ADJ
fsr-3185	17	22	situation	situation	NOUN
fsr-3185	17	23	.	.	PUNCT
fsr-3185	18	1	by	by	ADP
fsr-3185	18	2	incorporating	incorporate	VERB
fsr-3185	18	3	such	such	ADJ
fsr-3185	18	4	data	datum	NOUN
fsr-3185	18	5	into	into	ADP
fsr-3185	18	6	economic	economic	ADJ
fsr-3185	18	7	models	model	NOUN
fsr-3185	18	8	,	,	PUNCT
fsr-3185	18	9	we	we	PRON
fsr-3185	18	10	ask	ask	VERB
fsr-3185	18	11	the	the	DET
fsr-3185	18	12	following	follow	VERB
fsr-3185	18	13	questions	question	NOUN
fsr-3185	18	14	:	:	PUNCT
fsr-3185	18	15	assuming	assume	VERB
fsr-3185	18	16	consumer	consumer	NOUN
fsr-3185	18	17	sentiment	sentiment	NOUN
fsr-3185	18	18	affects	affect	VERB
fsr-3185	18	19	equity	equity	NOUN
fsr-3185	18	20	returns	return	NOUN
fsr-3185	18	21	,	,	PUNCT
fsr-3185	18	22	how	how	SCONJ
fsr-3185	18	23	long	long	ADV
fsr-3185	18	24	of	of	ADP
fsr-3185	18	25	a	a	DET
fsr-3185	18	26	holding	hold	VERB
fsr-3185	18	27	period	period	NOUN
fsr-3185	18	28	can	can	AUX
fsr-3185	18	29	be	be	AUX
fsr-3185	18	30	predicted	predict	VERB
fsr-3185	18	31	?	?	PUNCT
fsr-3185	19	1	does	do	AUX
fsr-3185	19	2	negative	negative	ADJ
fsr-3185	19	3	sentiment	sentiment	NOUN
fsr-3185	19	4	have	have	VERB
fsr-3185	19	5	a	a	DET
fsr-3185	19	6	larger	large	ADJ
fsr-3185	19	7	effect	effect	NOUN
fsr-3185	19	8	on	on	ADP
fsr-3185	19	9	equity	equity	NOUN
fsr-3185	19	10	returns	return	NOUN
fsr-3185	19	11	than	than	ADP
fsr-3185	19	12	positive	positive	ADJ
fsr-3185	19	13	sentiment	sentiment	NOUN
fsr-3185	19	14	?	?	PUNCT
fsr-3185	20	1	do	do	AUX
fsr-3185	20	2	the	the	DET
fsr-3185	20	3	sentiments	sentiment	NOUN
fsr-3185	20	4	of	of	ADP
fsr-3185	20	5	different	different	ADJ
fsr-3185	20	6	age	age	NOUN
fsr-3185	20	7	groups	group	NOUN
fsr-3185	20	8	have	have	VERB
fsr-3185	20	9	the	the	DET
fsr-3185	20	10	same	same	ADJ
fsr-3185	20	11	or	or	CCONJ
fsr-3185	20	12	similar	similar	ADJ
fsr-3185	20	13	effects	effect	NOUN
fsr-3185	20	14	on	on	ADP
fsr-3185	20	15	equity	equity	NOUN
fsr-3185	20	16	returns	return	NOUN
fsr-3185	20	17	?	?	PUNCT
fsr-3185	21	1	do	do	AUX
fsr-3185	21	2	different	different	ADJ
fsr-3185	21	3	sizes	size	NOUN
fsr-3185	21	4	of	of	ADP
fsr-3185	21	5	firms	firm	NOUN
fsr-3185	21	6	react	react	VERB
fsr-3185	21	7	to	to	ADP
fsr-3185	21	8	the	the	DET
fsr-3185	21	9	sentiment	sentiment	NOUN
fsr-3185	21	10	equally	equally	ADV
fsr-3185	21	11	?	?	PUNCT
fsr-3185	22	1	by	by	ADP
fsr-3185	22	2	answering	answer	VERB
fsr-3185	22	3	these	these	DET
fsr-3185	22	4	questions	question	NOUN
fsr-3185	22	5	,	,	PUNCT
fsr-3185	22	6	we	we	PRON
fsr-3185	22	7	can	can	AUX
fsr-3185	22	8	deepen	deepen	VERB
fsr-3185	22	9	our	our	PRON
fsr-3185	22	10	understanding	understanding	NOUN
fsr-3185	22	11	of	of	ADP
fsr-3185	22	12	the	the	DET
fsr-3185	22	13	relationships	relationship	NOUN
fsr-3185	22	14	between	between	ADP
fsr-3185	22	15	consumer	consumer	NOUN
fsr-3185	22	16	behavior	behavior	NOUN
fsr-3185	22	17	and	and	CCONJ
fsr-3185	22	18	stock	stock	NOUN
fsr-3185	22	19	returns	return	NOUN
fsr-3185	22	20	in	in	ADP
fsr-3185	22	21	the	the	DET
fsr-3185	22	22	united	united	PROPN
fsr-3185	22	23	states	states	PROPN
fsr-3185	22	24	.	.	PUNCT
fsr-3185	23	1	furthermore	furthermore	ADV
fsr-3185	23	2	,	,	PUNCT
fsr-3185	23	3	because	because	SCONJ
fsr-3185	23	4	household	household	NOUN
fsr-3185	23	5	consumption	consumption	NOUN
fsr-3185	23	6	is	be	AUX
fsr-3185	23	7	such	such	DET
fsr-3185	23	8	a	a	DET
fsr-3185	23	9	significant	significant	ADJ
fsr-3185	23	10	portion	portion	NOUN
fsr-3185	23	11	of	of	ADP
fsr-3185	23	12	gross	gross	ADJ
fsr-3185	23	13	domestic	domestic	ADJ
fsr-3185	23	14	product	product	NOUN
fsr-3185	23	15	(	(	PUNCT
fsr-3185	23	16	gdp	gdp	NOUN
fsr-3185	23	17	)	)	PUNCT
fsr-3185	23	18	in	in	ADP
fsr-3185	23	19	the	the	DET
fsr-3185	23	20	united	united	PROPN
fsr-3185	23	21	states	states	PROPN
fsr-3185	23	22	,	,	PUNCT
fsr-3185	23	23	understanding	understand	VERB
fsr-3185	23	24	the	the	DET
fsr-3185	23	25	outlook	outlook	NOUN
fsr-3185	23	26	of	of	ADP
fsr-3185	23	27	consumers	consumer	NOUN
fsr-3185	23	28	can	can	AUX
fsr-3185	23	29	impact	impact	VERB
fsr-3185	23	30	economic	economic	ADJ
fsr-3185	23	31	growth	growth	NOUN
fsr-3185	23	32	and	and	CCONJ
fsr-3185	23	33	corporate	corporate	ADJ
fsr-3185	23	34	profitability	profitability	NOUN
fsr-3185	23	35	.	.	PUNCT
fsr-3185	24	1	to	to	PART
fsr-3185	24	2	address	address	VERB
fsr-3185	24	3	these	these	DET
fsr-3185	24	4	questions	question	NOUN
fsr-3185	24	5	,	,	PUNCT
fsr-3185	24	6	we	we	PRON
fsr-3185	24	7	utilize	utilize	VERB
fsr-3185	24	8	the	the	DET
fsr-3185	24	9	asymmetric	asymmetric	ADJ
fsr-3185	24	10	response	response	NOUN
fsr-3185	24	11	model	model	NOUN
fsr-3185	24	12	with	with	ADP
fsr-3185	24	13	long	long	ADJ
fsr-3185	24	14	-	-	PUNCT
fsr-3185	24	15	horizon	horizon	NOUN
fsr-3185	24	16	regressions	regression	NOUN
fsr-3185	24	17	.	.	PUNCT
fsr-3185	25	1	to	to	PART
fsr-3185	25	2	test	test	VERB
fsr-3185	25	3	asymmetric	asymmetric	ADJ
fsr-3185	25	4	responses	response	NOUN
fsr-3185	25	5	with	with	ADP
fsr-3185	25	6	respect	respect	NOUN
fsr-3185	25	7	to	to	ADP
fsr-3185	25	8	consumer	consumer	NOUN
fsr-3185	25	9	sentiment	sentiment	NOUN
fsr-3185	25	10	,	,	PUNCT
fsr-3185	25	11	the	the	DET
fsr-3185	25	12	consumer	consumer	NOUN
fsr-3185	25	13	sentiment	sentiment	NOUN
fsr-3185	25	14	index	index	NOUN
fsr-3185	25	15	compiled	compile	VERB
fsr-3185	25	16	by	by	ADP
fsr-3185	25	17	the	the	DET
fsr-3185	25	18	university	university	PROPN
fsr-3185	25	19	of	of	ADP
fsr-3185	25	20	michigan	michigan	PROPN
fsr-3185	25	21	is	be	AUX
fsr-3185	25	22	divided	divide	VERB
fsr-3185	25	23	into	into	ADP
fsr-3185	25	24	positive	positive	ADJ
fsr-3185	25	25	changes	change	NOUN
fsr-3185	25	26	and	and	CCONJ
fsr-3185	25	27	negative	negative	ADJ
fsr-3185	25	28	changes	change	NOUN
fsr-3185	25	29	,	,	PUNCT
fsr-3185	25	30	where	where	SCONJ
fsr-3185	25	31	negative	negative	ADJ
fsr-3185	25	32	consumer	consumer	NOUN
fsr-3185	25	33	sentiment	sentiment	NOUN
fsr-3185	25	34	indicates	indicate	VERB
fsr-3185	25	35	pessimistic	pessimistic	ADJ
fsr-3185	25	36	feelings	feeling	NOUN
fsr-3185	25	37	about	about	ADP
fsr-3185	25	38	future	future	ADJ
fsr-3185	25	39	economic	economic	ADJ
fsr-3185	25	40	prospects	prospect	NOUN
fsr-3185	25	41	,	,	PUNCT
fsr-3185	25	42	or	or	CCONJ
fsr-3185	25	43	aggravation	aggravation	NOUN
fsr-3185	25	44	of	of	ADP
fsr-3185	25	45	losing	lose	VERB
fsr-3185	25	46	wealth	wealth	NOUN
fsr-3185	25	47	and	and	CCONJ
fsr-3185	25	48	positive	positive	ADJ
fsr-3185	25	49	sentiment	sentiment	NOUN
fsr-3185	25	50	indicates	indicate	VERB
fsr-3185	25	51	the	the	DET
fsr-3185	25	52	opposite	opposite	NOUN
fsr-3185	25	53	.	.	PUNCT
fsr-3185	26	1	according	accord	VERB
fsr-3185	26	2	to	to	ADP
fsr-3185	26	3	the	the	DET
fsr-3185	26	4	prospect	prospect	NOUN
fsr-3185	26	5	theory	theory	NOUN
fsr-3185	26	6	developed	develop	VERB
fsr-3185	26	7	by	by	ADP
fsr-3185	26	8	kahneman	kahneman	NOUN
fsr-3185	26	9	and	and	CCONJ
fsr-3185	26	10	tversky	tversky	PROPN
fsr-3185	26	11	(	(	PUNCT
fsr-3185	26	12	1979	1979	NUM
fsr-3185	26	13	)	)	PUNCT
fsr-3185	26	14	,	,	PUNCT
fsr-3185	26	15	losses	loss	NOUN
fsr-3185	26	16	matter	matter	VERB
fsr-3185	26	17	more	more	ADJ
fsr-3185	26	18	to	to	ADP
fsr-3185	26	19	individuals	individual	NOUN
fsr-3185	26	20	than	than	ADP
fsr-3185	26	21	gains	gain	NOUN
fsr-3185	26	22	because	because	SCONJ
fsr-3185	26	23	of	of	ADP
fsr-3185	26	24	the	the	DET
fsr-3185	26	25	risk	risk	NOUN
fsr-3185	26	26	averse	averse	ADJ
fsr-3185	26	27	nature	nature	NOUN
fsr-3185	26	28	of	of	ADP
fsr-3185	26	29	investors	investor	NOUN
fsr-3185	26	30	,	,	PUNCT
fsr-3185	26	31	and	and	CCONJ
fsr-3185	26	32	is	be	AUX
fsr-3185	26	33	closely	closely	ADV
fsr-3185	26	34	related	relate	VERB
fsr-3185	26	35	to	to	ADP
fsr-3185	26	36	the	the	DET
fsr-3185	26	37	concept	concept	NOUN
fsr-3185	26	38	of	of	ADP
fsr-3185	26	39	downside	downside	ADJ
fsr-3185	26	40	risk	risk	NOUN
fsr-3185	26	41	.	.	PUNCT
fsr-3185	27	1	this	this	DET
fsr-3185	27	2	specific	specific	ADJ
fsr-3185	27	3	type	type	NOUN
fsr-3185	27	4	of	of	ADP
fsr-3185	27	5	risk	risk	NOUN
fsr-3185	27	6	is	be	AUX
fsr-3185	27	7	critical	critical	ADJ
fsr-3185	27	8	for	for	SCONJ
fsr-3185	27	9	individual	individual	ADJ
fsr-3185	27	10	investors	investor	NOUN
fsr-3185	27	11	and	and	CCONJ
fsr-3185	27	12	financial	financial	ADJ
fsr-3185	27	13	planners	planner	NOUN
fsr-3185	27	14	to	to	PART
fsr-3185	27	15	monitor	monitor	VERB
fsr-3185	27	16	,	,	PUNCT
fsr-3185	27	17	given	give	VERB
fsr-3185	27	18	the	the	DET
fsr-3185	27	19	findings	finding	NOUN
fsr-3185	27	20	of	of	ADP
fsr-3185	27	21	the	the	DET
fsr-3185	27	22	prospect	prospect	NOUN
fsr-3185	27	23	theory	theory	NOUN
fsr-3185	27	24	.	.	PUNCT
fsr-3185	28	1	furthermore	furthermore	ADV
fsr-3185	28	2	,	,	PUNCT
fsr-3185	28	3	downside	downside	ADJ
fsr-3185	28	4	risk	risk	NOUN
fsr-3185	28	5	has	have	AUX
fsr-3185	28	6	been	be	AUX
fsr-3185	28	7	studied	study	VERB
fsr-3185	28	8	in	in	ADP
fsr-3185	28	9	other	other	ADJ
fsr-3185	28	10	scenarios	scenario	NOUN
fsr-3185	28	11	(	(	PUNCT
fsr-3185	28	12	e.g.	e.g.	ADV
fsr-3185	28	13	,	,	PUNCT
fsr-3185	28	14	when	when	SCONJ
fsr-3185	28	15	is	be	AUX
fsr-3185	28	16	the	the	DET
fsr-3185	28	17	ideal	ideal	ADJ
fsr-3185	28	18	time	time	NOUN
fsr-3185	28	19	for	for	SCONJ
fsr-3185	28	20	an	an	DET
fsr-3185	28	21	individual	individual	NOUN
fsr-3185	28	22	to	to	PART
fsr-3185	28	23	receive	receive	VERB
fsr-3185	28	24	social	social	ADJ
fsr-3185	28	25	security	security	NOUN
fsr-3185	28	26	benefits	benefit	NOUN
fsr-3185	28	27	(	(	PUNCT
fsr-3185	28	28	friedman	friedman	NOUN
fsr-3185	28	29	and	and	CCONJ
fsr-3185	28	30	phillips	phillip	NOUN
fsr-3185	28	31	,	,	PUNCT
fsr-3185	28	32	2010	2010	NUM
fsr-3185	28	33	)	)	PUNCT
fsr-3185	28	34	.	.	PUNCT
fsr-3185	29	1	the	the	DET
fsr-3185	29	2	current	current	ADJ
fsr-3185	29	3	article	article	NOUN
fsr-3185	29	4	seeks	seek	VERB
fsr-3185	29	5	to	to	PART
fsr-3185	29	6	add	add	VERB
fsr-3185	29	7	to	to	ADP
fsr-3185	29	8	the	the	DET
fsr-3185	29	9	downside	downside	ADJ
fsr-3185	29	10	risk	risk	NOUN
fsr-3185	29	11	literature	literature	NOUN
fsr-3185	29	12	by	by	ADP
fsr-3185	29	13	looking	look	VERB
fsr-3185	29	14	at	at	ADP
fsr-3185	29	15	individuals	individual	NOUN
fsr-3185	29	16	through	through	ADP
fsr-3185	29	17	the	the	DET
fsr-3185	29	18	lenses	lense	NOUN
fsr-3185	29	19	of	of	ADP
fsr-3185	29	20	consumer	consumer	NOUN
fsr-3185	29	21	sentiment	sentiment	NOUN
fsr-3185	29	22	and	and	CCONJ
fsr-3185	29	23	how	how	SCONJ
fsr-3185	29	24	changes	change	NOUN
fsr-3185	29	25	in	in	ADP
fsr-3185	29	26	sentiment	sentiment	NOUN
fsr-3185	29	27	may	may	AUX
fsr-3185	29	28	foretell	foretell	VERB
fsr-3185	29	29	forthcoming	forthcoming	ADJ
fsr-3185	29	30	equity	equity	NOUN
fsr-3185	29	31	returns	return	NOUN
fsr-3185	29	32	.	.	PUNCT
fsr-3185	30	1	we	we	PRON
fsr-3185	30	2	look	look	VERB
fsr-3185	30	3	at	at	ADP
fsr-3185	30	4	1	1	NUM
fsr-3185	30	5	,	,	PUNCT
fsr-3185	30	6	3	3	NUM
fsr-3185	30	7	,	,	PUNCT
fsr-3185	30	8	6	6	NUM
fsr-3185	30	9	,	,	PUNCT
fsr-3185	30	10	12	12	NUM
fsr-3185	30	11	,	,	PUNCT
fsr-3185	30	12	and	and	CCONJ
fsr-3185	30	13	24	24	NUM
fsr-3185	30	14	month	month	NOUN
fsr-3185	30	15	holding	holding	NOUN
fsr-3185	30	16	period	period	NOUN
fsr-3185	30	17	horizons	horizon	NOUN
fsr-3185	30	18	to	to	PART
fsr-3185	30	19	investigate	investigate	VERB
fsr-3185	30	20	whether	whether	SCONJ
fsr-3185	30	21	changes	change	NOUN
fsr-3185	30	22	in	in	ADP
fsr-3185	30	23	consumer	consumer	NOUN
fsr-3185	30	24	sentiment	sentiment	NOUN
fsr-3185	30	25	have	have	VERB
fsr-3185	30	26	the	the	DET
fsr-3185	30	27	ability	ability	NOUN
fsr-3185	30	28	to	to	PART
fsr-3185	30	29	forecast	forecast	VERB
fsr-3185	30	30	equity	equity	NOUN
fsr-3185	30	31	returns	return	NOUN
fsr-3185	30	32	.	.	PUNCT
fsr-3185	31	1	if	if	SCONJ
fsr-3185	31	2	changes	change	NOUN
fsr-3185	31	3	in	in	ADP
fsr-3185	31	4	consumer	consumer	NOUN
fsr-3185	31	5	sentiment	sentiment	NOUN
fsr-3185	31	6	have	have	VERB
fsr-3185	31	7	this	this	DET
fsr-3185	31	8	predictive	predictive	ADJ
fsr-3185	31	9	ability	ability	NOUN
fsr-3185	31	10	,	,	PUNCT
fsr-3185	31	11	this	this	PRON
fsr-3185	31	12	can	can	AUX
fsr-3185	31	13	assist	assist	VERB
fsr-3185	31	14	individual	individual	ADJ
fsr-3185	31	15	investors	investor	NOUN
fsr-3185	31	16	and	and	CCONJ
fsr-3185	31	17	financial	financial	ADJ
fsr-3185	31	18	planners	planner	NOUN
fsr-3185	31	19	,	,	PUNCT
fsr-3185	31	20	regardless	regardless	ADV
fsr-3185	31	21	of	of	ADP
fsr-3185	31	22	whether	whether	SCONJ
fsr-3185	31	23	their	their	PRON
fsr-3185	31	24	investment	investment	NOUN
fsr-3185	31	25	horizon	horizon	NOUN
fsr-3185	31	26	is	be	AUX
fsr-3185	31	27	short	short	ADJ
fsr-3185	31	28	-	-	PUNCT
fsr-3185	31	29	term	term	NOUN
fsr-3185	31	30	or	or	CCONJ
fsr-3185	31	31	long	long	ADJ
fsr-3185	31	32	-	-	PUNCT
fsr-3185	31	33	term	term	NOUN
fsr-3185	31	34	.	.	PUNCT
fsr-3185	32	1	the	the	DET
fsr-3185	32	2	sentiments	sentiment	NOUN
fsr-3185	32	3	of	of	ADP
fsr-3185	32	4	three	three	NUM
fsr-3185	32	5	different	different	ADJ
fsr-3185	32	6	age	age	NOUN
fsr-3185	32	7	groups	group	NOUN
fsr-3185	32	8	are	be	AUX
fsr-3185	32	9	investigated	investigate	VERB
fsr-3185	32	10	to	to	PART
fsr-3185	32	11	address	address	VERB
fsr-3185	32	12	the	the	DET
fsr-3185	32	13	idea	idea	NOUN
fsr-3185	32	14	of	of	ADP
fsr-3185	32	15	life	life	NOUN
fsr-3185	32	16	cycle	cycle	NOUN
fsr-3185	32	17	investment	investment	NOUN
fsr-3185	32	18	hypothesis.2	hypothesis.2	ADJ
fsr-3185	32	19	existing	exist	VERB
fsr-3185	32	20	research	research	NOUN
fsr-3185	32	21	has	have	AUX
fsr-3185	32	22	shown	show	VERB
fsr-3185	32	23	that	that	SCONJ
fsr-3185	32	24	an	an	DET
fsr-3185	32	25	aging	age	VERB
fsr-3185	32	26	population	population	NOUN
fsr-3185	32	27	results	result	NOUN
fsr-3185	32	28	in	in	ADP
fsr-3185	32	29	higher	high	ADJ
fsr-3185	32	30	average	average	ADJ
fsr-3185	32	31	risk	risk	NOUN
fsr-3185	32	32	aversion	aversion	NOUN
fsr-3185	32	33	and	and	CCONJ
fsr-3185	32	34	subsequently	subsequently	ADV
fsr-3185	32	35	,	,	PUNCT
fsr-3185	32	36	higher	high	ADJ
fsr-3185	32	37	risk	risk	NOUN
fsr-3185	32	38	premiums	premium	NOUN
fsr-3185	32	39	.	.	PUNCT
fsr-3185	33	1	for	for	ADP
fsr-3185	33	2	example	example	NOUN
fsr-3185	33	3	,	,	PUNCT
fsr-3185	33	4	an	an	DET
fsr-3185	33	5	individuals	individual	NOUN
fsr-3185	33	6	’	’	PART
fsr-3185	33	7	age	age	NOUN
fsr-3185	33	8	and	and	CCONJ
fsr-3185	33	9	their	their	PRON
fsr-3185	33	10	appetite	appetite	NOUN
fsr-3185	33	11	(	(	PUNCT
fsr-3185	33	12	or	or	CCONJ
fsr-3185	33	13	tolerance	tolerance	NOUN
fsr-3185	33	14	)	)	PUNCT
fsr-3185	33	15	for	for	ADP
fsr-3185	33	16	risk	risk	NOUN
fsr-3185	33	17	has	have	AUX
fsr-3185	33	18	been	be	AUX
fsr-3185	33	19	studied	study	VERB
fsr-3185	33	20	by	by	ADP
fsr-3185	33	21	hariharan	hariharan	PROPN
fsr-3185	33	22	et	et	PROPN
fsr-3185	33	23	al	al	PROPN
fsr-3185	33	24	.	.	PROPN
fsr-3185	34	1	(	(	PUNCT
fsr-3185	34	2	2000	2000	NUM
fsr-3185	34	3	)	)	PUNCT
fsr-3185	34	4	,	,	PUNCT
fsr-3185	34	5	gibson	gibson	PROPN
fsr-3185	34	6	et	et	PROPN
fsr-3185	34	7	al	al	PROPN
fsr-3185	34	8	.	.	PROPN
fsr-3185	35	1	(	(	PUNCT
fsr-3185	35	2	2013	2013	NUM
fsr-3185	35	3	)	)	PUNCT
fsr-3185	36	1	,	,	PUNCT
fsr-3185	36	2	larkin	larkin	PROPN
fsr-3185	36	3	et	et	PROPN
fsr-3185	36	4	al	al	PROPN
fsr-3185	36	5	.	.	PROPN
fsr-3185	36	6	(	(	PUNCT
fsr-3185	36	7	2013	2013	NUM
fsr-3185	36	8	)	)	PUNCT
fsr-3185	36	9	,	,	PUNCT
fsr-3185	36	10	and	and	CCONJ
fsr-3185	36	11	schooley	schooley	NOUN
fsr-3185	36	12	and	and	CCONJ
fsr-3185	36	13	worden	worden	NOUN
fsr-3185	36	14	(	(	PUNCT
fsr-3185	36	15	1996	1996	NUM
fsr-3185	36	16	)	)	PUNCT
fsr-3185	36	17	.	.	PUNCT
fsr-3185	37	1	the	the	DET
fsr-3185	37	2	current	current	ADJ
fsr-3185	37	3	article	article	NOUN
fsr-3185	37	4	contributes	contribute	VERB
fsr-3185	37	5	to	to	ADP
fsr-3185	37	6	the	the	DET
fsr-3185	37	7	literature	literature	NOUN
fsr-3185	37	8	by	by	ADP
fsr-3185	37	9	presenting	present	VERB
fsr-3185	37	10	comprehensive	comprehensive	ADJ
fsr-3185	37	11	analysis	analysis	NOUN
fsr-3185	37	12	of	of	ADP
fsr-3185	37	13	the	the	DET
fsr-3185	37	14	effects	effect	NOUN
fsr-3185	37	15	of	of	ADP
fsr-3185	37	16	consumer	consumer	NOUN
fsr-3185	37	17	sentiment	sentiment	NOUN
fsr-3185	37	18	on	on	ADP
fsr-3185	37	19	the	the	DET
fsr-3185	37	20	u.s	u.s	PROPN
fsr-3185	37	21	.	.	PROPN
fsr-3185	37	22	stock	stock	NOUN
fsr-3185	37	23	returns	return	NOUN
fsr-3185	37	24	that	that	PRON
fsr-3185	37	25	includes	include	VERB
fsr-3185	37	26	data	datum	NOUN
fsr-3185	37	27	from	from	ADP
fsr-3185	37	28	the	the	DET
fsr-3185	37	29	recent	recent	ADJ
fsr-3185	37	30	financial	financial	ADJ
fsr-3185	37	31	crisis	crisis	NOUN
fsr-3185	37	32	.	.	PUNCT
fsr-3185	38	1	by	by	ADP
fsr-3185	38	2	including	include	VERB
fsr-3185	38	3	the	the	DET
fsr-3185	38	4	recent	recent	ADJ
fsr-3185	38	5	financial	financial	ADJ
fsr-3185	38	6	crisis	crisis	NOUN
fsr-3185	38	7	in	in	ADP
fsr-3185	38	8	our	our	PRON
fsr-3185	38	9	sample	sample	NOUN
fsr-3185	38	10	period	period	NOUN
fsr-3185	38	11	,	,	PUNCT
fsr-3185	38	12	we	we	PRON
fsr-3185	38	13	are	be	AUX
fsr-3185	38	14	able	able	ADJ
fsr-3185	38	15	to	to	PART
fsr-3185	38	16	provide	provide	VERB
fsr-3185	38	17	results	result	NOUN
fsr-3185	38	18	that	that	PRON
fsr-3185	38	19	include	include	VERB
fsr-3185	38	20	a	a	DET
fsr-3185	38	21	time	time	NOUN
fsr-3185	38	22	period	period	NOUN
fsr-3185	38	23	that	that	PRON
fsr-3185	38	24	has	have	AUX
fsr-3185	38	25	been	be	AUX
fsr-3185	38	26	referred	refer	VERB
fsr-3185	38	27	to	to	ADP
fsr-3185	38	28	as	as	ADP
fsr-3185	38	29	an	an	DET
fsr-3185	38	30	once	once	ADV
fsr-3185	38	31	-	-	PUNCT
fsr-3185	38	32	in	in	ADP
fsr-3185	38	33	-	-	PUNCT
fsr-3185	38	34	a	a	DET
fsr-3185	38	35	-	-	PUNCT
fsr-3185	38	36	lifetime	lifetime	NOUN
fsr-3185	38	37	event	event	NOUN
fsr-3185	38	38	.	.	PUNCT
fsr-3185	39	1	fisher	fisher	PROPN
fsr-3185	39	2	and	and	CCONJ
fsr-3185	39	3	statman	statman	PROPN
fsr-3185	39	4	(	(	PUNCT
fsr-3185	39	5	2003	2003	NUM
fsr-3185	39	6	)	)	PUNCT
fsr-3185	39	7	successfully	successfully	ADV
fsr-3185	39	8	show	show	VERB
fsr-3185	39	9	that	that	SCONJ
fsr-3185	39	10	there	there	PRON
fsr-3185	39	11	is	be	VERB
fsr-3185	39	12	a	a	DET
fsr-3185	39	13	relationship	relationship	NOUN
fsr-3185	39	14	between	between	ADP
fsr-3185	39	15	consumer	consumer	NOUN
fsr-3185	39	16	sentiment	sentiment	NOUN
fsr-3185	39	17	and	and	CCONJ
fsr-3185	39	18	stock	stock	NOUN
fsr-3185	39	19	returns	return	NOUN
fsr-3185	39	20	.	.	PUNCT
fsr-3185	40	1	specifically	specifically	ADV
fsr-3185	40	2	,	,	PUNCT
fsr-3185	40	3	they	they	PRON
fsr-3185	40	4	find	find	VERB
fsr-3185	40	5	evidence	evidence	NOUN
fsr-3185	40	6	that	that	SCONJ
fsr-3185	40	7	changes	change	VERB
fsr-3185	40	8	in	in	ADP
fsr-3185	40	9	consumer	consumer	NOUN
fsr-3185	40	10	sentiment	sentiment	NOUN
fsr-3185	40	11	and	and	CCONJ
fsr-3185	40	12	contemporaneous	contemporaneous	ADJ
fsr-3185	40	13	stock	stock	NOUN
fsr-3185	40	14	returns	return	NOUN
fsr-3185	40	15	have	have	AUX
fsr-3185	40	16	a	a	DET
fsr-3185	40	17	positive	positive	ADJ
fsr-3185	40	18	,	,	PUNCT
fsr-3185	40	19	statistically	statistically	ADV
fsr-3185	40	20	signif46	signif46	PROPN
fsr-3185	40	21	m.a	m.a	PROPN
fsr-3185	40	22	.	.	PROPN
fsr-3185	40	23	johnson	johnson	PROPN
fsr-3185	40	24	,	,	PUNCT
fsr-3185	40	25	a.	a.	PROPN
fsr-3185	40	26	naka	naka	PROPN
fsr-3185	40	27	/	/	SYM
fsr-3185	40	28	financial	financial	ADJ
fsr-3185	40	29	services	service	NOUN
fsr-3185	40	30	review	review	VERB
fsr-3185	40	31	23	23	NUM
fsr-3185	40	32	(	(	PUNCT
fsr-3185	40	33	2014	2014	NUM
fsr-3185	40	34	)	)	PUNCT
fsr-3185	40	35	45–61	45–61	NUM
fsr-3185	40	36	icant	icant	ADJ
fsr-3185	40	37	relationship	relationship	NOUN
fsr-3185	40	38	.	.	PUNCT
fsr-3185	41	1	additionally	additionally	ADV
fsr-3185	41	2	,	,	PUNCT
fsr-3185	41	3	they	they	PRON
fsr-3185	41	4	present	present	VERB
fsr-3185	41	5	that	that	SCONJ
fsr-3185	41	6	the	the	DET
fsr-3185	41	7	relationship	relationship	NOUN
fsr-3185	41	8	between	between	ADP
fsr-3185	41	9	changes	change	NOUN
fsr-3185	41	10	in	in	ADP
fsr-3185	41	11	consumer	consumer	NOUN
fsr-3185	41	12	sentiment	sentiment	NOUN
fsr-3185	41	13	and	and	CCONJ
fsr-3185	41	14	the	the	DET
fsr-3185	41	15	returns	return	NOUN
fsr-3185	41	16	of	of	ADP
fsr-3185	41	17	small	small	ADJ
fsr-3185	41	18	-	-	PUNCT
fsr-3185	41	19	cap	cap	NOUN
fsr-3185	41	20	stocks	stock	NOUN
fsr-3185	41	21	is	be	AUX
fsr-3185	41	22	stronger	strong	ADJ
fsr-3185	41	23	than	than	ADP
fsr-3185	41	24	the	the	DET
fsr-3185	41	25	relationship	relationship	NOUN
fsr-3185	41	26	between	between	ADP
fsr-3185	41	27	sentiment	sentiment	NOUN
fsr-3185	41	28	and	and	CCONJ
fsr-3185	41	29	a	a	DET
fsr-3185	41	30	broad	broad	ADJ
fsr-3185	41	31	market	market	NOUN
fsr-3185	41	32	index	index	NOUN
fsr-3185	41	33	such	such	ADJ
fsr-3185	41	34	as	as	ADP
fsr-3185	41	35	the	the	DET
fsr-3185	41	36	s&p	s&p	PROPN
fsr-3185	41	37	500.3	500.3	NUM
fsr-3185	41	38	baker	baker	NOUN
fsr-3185	41	39	and	and	CCONJ
fsr-3185	41	40	wurgler	wurgler	PROPN
fsr-3185	41	41	(	(	PUNCT
fsr-3185	41	42	2006	2006	NUM
fsr-3185	41	43	)	)	PUNCT
fsr-3185	41	44	study	study	VERB
fsr-3185	41	45	the	the	DET
fsr-3185	41	46	relationship	relationship	NOUN
fsr-3185	41	47	between	between	ADP
fsr-3185	41	48	cross	cross	ADJ
fsr-3185	41	49	-	-	ADJ
fsr-3185	41	50	sectional	sectional	ADJ
fsr-3185	41	51	differences	difference	NOUN
fsr-3185	41	52	of	of	ADP
fsr-3185	41	53	stock	stock	NOUN
fsr-3185	41	54	returns	return	NOUN
fsr-3185	41	55	and	and	CCONJ
fsr-3185	41	56	investor	investor	NOUN
fsr-3185	41	57	sentiment	sentiment	NOUN
fsr-3185	41	58	by	by	ADP
fsr-3185	41	59	constructing	construct	VERB
fsr-3185	41	60	the	the	DET
fsr-3185	41	61	investor	investor	NOUN
fsr-3185	41	62	sentiment	sentiment	NOUN
fsr-3185	41	63	index	index	NOUN
fsr-3185	41	64	based	base	VERB
fsr-3185	41	65	on	on	ADP
fsr-3185	41	66	six	six	NUM
fsr-3185	41	67	market	market	NOUN
fsr-3185	41	68	variables	variable	NOUN
fsr-3185	41	69	,	,	PUNCT
fsr-3185	41	70	and	and	CCONJ
fsr-3185	41	71	categorizing	categorize	VERB
fsr-3185	41	72	sentiment	sentiment	NOUN
fsr-3185	41	73	as	as	ADP
fsr-3185	41	74	either	either	DET
fsr-3185	41	75	optimism	optimism	NOUN
fsr-3185	41	76	or	or	CCONJ
fsr-3185	41	77	pessimism	pessimism	NOUN
fsr-3185	41	78	about	about	ADP
fsr-3185	41	79	stocks	stock	NOUN
fsr-3185	41	80	markets.4	markets.4	PROPN
fsr-3185	42	1	they	they	PRON
fsr-3185	42	2	show	show	VERB
fsr-3185	42	3	that	that	SCONJ
fsr-3185	42	4	investor	investor	NOUN
fsr-3185	42	5	sentiment	sentiment	NOUN
fsr-3185	42	6	has	have	VERB
fsr-3185	42	7	a	a	DET
fsr-3185	42	8	larger	large	ADJ
fsr-3185	42	9	effect	effect	NOUN
fsr-3185	42	10	on	on	ADP
fsr-3185	42	11	hard	hard	ADJ
fsr-3185	42	12	-	-	PUNCT
fsr-3185	42	13	to	to	ADP
fsr-3185	42	14	-	-	PUNCT
fsr-3185	42	15	price	price	NOUN
fsr-3185	42	16	securities	security	NOUN
fsr-3185	42	17	such	such	ADJ
fsr-3185	42	18	as	as	ADP
fsr-3185	42	19	small	small	ADJ
fsr-3185	42	20	stocks	stock	NOUN
fsr-3185	42	21	,	,	PUNCT
fsr-3185	42	22	young	young	ADJ
fsr-3185	42	23	stocks	stock	NOUN
fsr-3185	42	24	,	,	PUNCT
fsr-3185	42	25	high	high	ADJ
fsr-3185	42	26	volatility	volatility	NOUN
fsr-3185	42	27	stocks	stock	NOUN
fsr-3185	42	28	,	,	PUNCT
fsr-3185	42	29	unprofitable	unprofitable	ADJ
fsr-3185	42	30	stocks	stock	NOUN
fsr-3185	42	31	,	,	PUNCT
fsr-3185	42	32	non	non	ADJ
fsr-3185	42	33	-	-	ADJ
fsr-3185	42	34	dividend	dividend	ADJ
fsr-3185	42	35	paying	pay	VERB
fsr-3185	42	36	stocks	stock	NOUN
fsr-3185	42	37	,	,	PUNCT
fsr-3185	42	38	growth	growth	NOUN
fsr-3185	42	39	stocks	stock	NOUN
fsr-3185	42	40	,	,	PUNCT
fsr-3185	42	41	and	and	CCONJ
fsr-3185	42	42	distressed	distressed	ADJ
fsr-3185	42	43	stocks	stock	NOUN
fsr-3185	42	44	.	.	PUNCT
fsr-3185	43	1	akhtar	akhtar	PROPN
fsr-3185	43	2	et	et	PROPN
fsr-3185	43	3	al	al	PROPN
fsr-3185	43	4	.	.	PROPN
fsr-3185	43	5	(	(	PUNCT
fsr-3185	43	6	2011	2011	NUM
fsr-3185	43	7	)	)	PUNCT
fsr-3185	43	8	and	and	CCONJ
fsr-3185	43	9	qui	qui	PROPN
fsr-3185	43	10	and	and	CCONJ
fsr-3185	43	11	welch	welch	PROPN
fsr-3185	43	12	(	(	PUNCT
fsr-3185	43	13	2006	2006	NUM
fsr-3185	43	14	)	)	PUNCT
fsr-3185	44	1	and	and	CCONJ
fsr-3185	44	2	show	show	VERB
fsr-3185	44	3	that	that	SCONJ
fsr-3185	44	4	consumer	consumer	NOUN
fsr-3185	44	5	sentiment	sentiment	NOUN
fsr-3185	44	6	is	be	AUX
fsr-3185	44	7	a	a	DET
fsr-3185	44	8	good	good	ADJ
fsr-3185	44	9	proxy	proxy	NOUN
fsr-3185	44	10	for	for	ADP
fsr-3185	44	11	investor	investor	NOUN
fsr-3185	44	12	sentiment	sentiment	NOUN
fsr-3185	44	13	.	.	PUNCT
fsr-3185	45	1	lemmon	lemmon	PROPN
fsr-3185	45	2	and	and	CCONJ
fsr-3185	45	3	portniaguina	portniaguina	PROPN
fsr-3185	45	4	(	(	PUNCT
fsr-3185	45	5	2006	2006	NUM
fsr-3185	45	6	)	)	PUNCT
fsr-3185	45	7	present	present	VERB
fsr-3185	45	8	a	a	DET
fsr-3185	45	9	way	way	NOUN
fsr-3185	45	10	of	of	ADP
fsr-3185	45	11	capturing	capture	VERB
fsr-3185	45	12	pessimism	pessimism	NOUN
fsr-3185	45	13	and	and	CCONJ
fsr-3185	45	14	optimism	optimism	NOUN
fsr-3185	45	15	by	by	ADP
fsr-3185	45	16	using	use	VERB
fsr-3185	45	17	a	a	DET
fsr-3185	45	18	consumer	consumer	NOUN
fsr-3185	45	19	sentiment	sentiment	NOUN
fsr-3185	45	20	index	index	NOUN
fsr-3185	45	21	(	(	PUNCT
fsr-3185	45	22	csi	csi	PROPN
fsr-3185	45	23	)	)	PUNCT
fsr-3185	45	24	as	as	ADP
fsr-3185	45	25	a	a	DET
fsr-3185	45	26	function	function	NOUN
fsr-3185	45	27	of	of	ADP
fsr-3185	45	28	a	a	DET
fsr-3185	45	29	large	large	ADJ
fsr-3185	45	30	number	number	NOUN
fsr-3185	45	31	of	of	ADP
fsr-3185	45	32	macroeconomic	macroeconomic	ADJ
fsr-3185	45	33	variables	variable	NOUN
fsr-3185	45	34	such	such	ADJ
fsr-3185	45	35	as	as	ADP
fsr-3185	45	36	inflation	inflation	NOUN
fsr-3185	45	37	,	,	PUNCT
fsr-3185	45	38	the	the	DET
fsr-3185	45	39	default	default	NOUN
fsr-3185	45	40	spread	spread	NOUN
fsr-3185	45	41	,	,	PUNCT
fsr-3185	45	42	changes	change	NOUN
fsr-3185	45	43	in	in	ADP
fsr-3185	45	44	personal	personal	ADJ
fsr-3185	45	45	consumption	consumption	NOUN
fsr-3185	45	46	expenditures	expenditure	NOUN
fsr-3185	45	47	,	,	PUNCT
fsr-3185	45	48	gross	gross	ADJ
fsr-3185	45	49	domestic	domestic	ADJ
fsr-3185	45	50	product	product	NOUN
fsr-3185	45	51	,	,	PUNCT
fsr-3185	45	52	and	and	CCONJ
fsr-3185	45	53	the	the	DET
fsr-3185	45	54	unemployment	unemployment	NOUN
fsr-3185	45	55	rate	rate	NOUN
fsr-3185	45	56	.	.	PUNCT
fsr-3185	46	1	they	they	PRON
fsr-3185	46	2	argue	argue	VERB
fsr-3185	46	3	that	that	SCONJ
fsr-3185	46	4	any	any	DET
fsr-3185	46	5	consumer	consumer	NOUN
fsr-3185	46	6	sentiment	sentiment	NOUN
fsr-3185	46	7	based	base	VERB
fsr-3185	46	8	on	on	ADP
fsr-3185	46	9	fundamental	fundamental	ADJ
fsr-3185	46	10	economic	economic	ADJ
fsr-3185	46	11	conditions	condition	NOUN
fsr-3185	46	12	is	be	AUX
fsr-3185	46	13	reasonable	reasonable	ADJ
fsr-3185	46	14	,	,	PUNCT
fsr-3185	46	15	justifiable	justifiable	ADJ
fsr-3185	46	16	,	,	PUNCT
fsr-3185	46	17	and	and	CCONJ
fsr-3185	46	18	rational	rational	ADJ
fsr-3185	46	19	.	.	PUNCT
fsr-3185	47	1	on	on	ADP
fsr-3185	47	2	the	the	DET
fsr-3185	47	3	other	other	ADJ
fsr-3185	47	4	hand	hand	NOUN
fsr-3185	47	5	,	,	PUNCT
fsr-3185	47	6	consumer	consumer	NOUN
fsr-3185	47	7	sentiment	sentiment	NOUN
fsr-3185	47	8	based	base	VERB
fsr-3185	47	9	on	on	ADP
fsr-3185	47	10	factors	factor	NOUN
fsr-3185	47	11	other	other	ADJ
fsr-3185	47	12	than	than	ADP
fsr-3185	47	13	economic	economic	ADJ
fsr-3185	47	14	conditions	condition	NOUN
fsr-3185	47	15	is	be	AUX
fsr-3185	47	16	interpreted	interpret	VERB
fsr-3185	47	17	as	as	ADP
fsr-3185	47	18	unjustifiable	unjustifiable	ADJ
fsr-3185	47	19	and	and	CCONJ
fsr-3185	47	20	irrational	irrational	ADJ
fsr-3185	47	21	,	,	PUNCT
fsr-3185	47	22	where	where	SCONJ
fsr-3185	47	23	they	they	PRON
fsr-3185	47	24	define	define	VERB
fsr-3185	47	25	the	the	DET
fsr-3185	47	26	residual	residual	ADJ
fsr-3185	47	27	from	from	ADP
fsr-3185	47	28	the	the	DET
fsr-3185	47	29	regression	regression	NOUN
fsr-3185	47	30	as	as	ADP
fsr-3185	47	31	a	a	DET
fsr-3185	47	32	proxy	proxy	NOUN
fsr-3185	47	33	for	for	ADP
fsr-3185	47	34	unjustifiable	unjustifiable	ADJ
fsr-3185	47	35	sentiment	sentiment	NOUN
fsr-3185	47	36	.	.	PUNCT
fsr-3185	48	1	their	their	PRON
fsr-3185	48	2	results	result	NOUN
fsr-3185	48	3	support	support	VERB
fsr-3185	48	4	the	the	DET
fsr-3185	48	5	noise	noise	NOUN
fsr-3185	48	6	trader	trader	NOUN
fsr-3185	48	7	hypothesis	hypothesis	NOUN
fsr-3185	48	8	that	that	DET
fsr-3185	48	9	sentiment	sentiment	NOUN
fsr-3185	48	10	will	will	AUX
fsr-3185	48	11	have	have	VERB
fsr-3185	48	12	a	a	DET
fsr-3185	48	13	greater	great	ADJ
fsr-3185	48	14	effect	effect	NOUN
fsr-3185	48	15	on	on	ADP
fsr-3185	48	16	asset	asset	NOUN
fsr-3185	48	17	returns	return	NOUN
fsr-3185	48	18	held	hold	VERB
fsr-3185	48	19	by	by	ADP
fsr-3185	48	20	individuals	individual	NOUN
fsr-3185	48	21	.	.	PUNCT
fsr-3185	49	1	ho	ho	PROPN
fsr-3185	49	2	and	and	CCONJ
fsr-3185	49	3	hung	hung	PROPN
fsr-3185	49	4	(	(	PUNCT
fsr-3185	49	5	2009	2009	NUM
fsr-3185	49	6	)	)	PUNCT
fsr-3185	49	7	examine	examine	VERB
fsr-3185	49	8	the	the	DET
fsr-3185	49	9	performance	performance	NOUN
fsr-3185	49	10	of	of	ADP
fsr-3185	49	11	asset	asset	NOUN
fsr-3185	49	12	pricing	pricing	NOUN
fsr-3185	49	13	models	model	NOUN
fsr-3185	49	14	by	by	ADP
fsr-3185	49	15	using	use	VERB
fsr-3185	49	16	sentiment	sentiment	NOUN
fsr-3185	49	17	as	as	ADP
fsr-3185	49	18	conditioning	condition	VERB
fsr-3185	49	19	information	information	NOUN
fsr-3185	49	20	as	as	SCONJ
fsr-3185	49	21	it	it	PRON
fsr-3185	49	22	reflects	reflect	VERB
fsr-3185	49	23	investors	investor	NOUN
fsr-3185	49	24	’	’	PART
fsr-3185	49	25	expectations	expectation	NOUN
fsr-3185	49	26	about	about	ADP
fsr-3185	49	27	future	future	ADJ
fsr-3185	49	28	forecasts	forecast	NOUN
fsr-3185	49	29	of	of	ADP
fsr-3185	49	30	financial	financial	ADJ
fsr-3185	49	31	markets	market	NOUN
fsr-3185	49	32	.	.	PUNCT
fsr-3185	50	1	by	by	ADP
fsr-3185	50	2	including	include	VERB
fsr-3185	50	3	various	various	ADJ
fsr-3185	50	4	sentiment	sentiment	NOUN
fsr-3185	50	5	measures	measure	NOUN
fsr-3185	50	6	,	,	PUNCT
fsr-3185	50	7	they	they	PRON
fsr-3185	50	8	show	show	VERB
fsr-3185	50	9	that	that	SCONJ
fsr-3185	50	10	the	the	DET
fsr-3185	50	11	capital	capital	NOUN
fsr-3185	50	12	asset	asset	NOUN
fsr-3185	50	13	pricing	pricing	NOUN
fsr-3185	50	14	models	model	NOUN
fsr-3185	50	15	perform	perform	VERB
fsr-3185	50	16	better	well	ADV
fsr-3185	50	17	when	when	SCONJ
fsr-3185	50	18	sentiment	sentiment	NOUN
fsr-3185	50	19	is	be	AUX
fsr-3185	50	20	included	include	VERB
fsr-3185	50	21	,	,	PUNCT
fsr-3185	50	22	and	and	CCONJ
fsr-3185	50	23	conclude	conclude	VERB
fsr-3185	50	24	that	that	DET
fsr-3185	50	25	sentiment	sentiment	NOUN
fsr-3185	50	26	helps	help	VERB
fsr-3185	50	27	explain	explain	VERB
fsr-3185	50	28	market	market	NOUN
fsr-3185	50	29	anomalies	anomaly	NOUN
fsr-3185	50	30	such	such	ADJ
fsr-3185	50	31	as	as	ADP
fsr-3185	50	32	momentum	momentum	NOUN
fsr-3185	50	33	,	,	PUNCT
fsr-3185	50	34	liquidity	liquidity	NOUN
fsr-3185	50	35	,	,	PUNCT
fsr-3185	50	36	size	size	NOUN
fsr-3185	50	37	,	,	PUNCT
fsr-3185	50	38	and	and	CCONJ
fsr-3185	50	39	book	book	NOUN
fsr-3185	50	40	-	-	PUNCT
fsr-3185	50	41	to	to	ADP
fsr-3185	50	42	-	-	PUNCT
fsr-3185	50	43	market	market	NOUN
fsr-3185	50	44	effects	effect	NOUN
fsr-3185	50	45	.	.	PUNCT
fsr-3185	51	1	schmeling	schmele	VERB
fsr-3185	51	2	(	(	PUNCT
fsr-3185	51	3	2009	2009	NUM
fsr-3185	51	4	)	)	PUNCT
fsr-3185	51	5	utilizes	utilize	VERB
fsr-3185	51	6	consumer	consumer	NOUN
fsr-3185	51	7	confidence	confidence	NOUN
fsr-3185	51	8	as	as	ADP
fsr-3185	51	9	a	a	DET
fsr-3185	51	10	proxy	proxy	NOUN
fsr-3185	51	11	for	for	ADP
fsr-3185	51	12	individual	individual	ADJ
fsr-3185	51	13	investor	investor	NOUN
fsr-3185	51	14	sentiment	sentiment	NOUN
fsr-3185	51	15	to	to	PART
fsr-3185	51	16	investigate	investigate	VERB
fsr-3185	51	17	whether	whether	SCONJ
fsr-3185	51	18	lagged	lag	VERB
fsr-3185	51	19	sentiment	sentiment	NOUN
fsr-3185	51	20	explains	explain	VERB
fsr-3185	51	21	stock	stock	NOUN
fsr-3185	51	22	returns	return	NOUN
fsr-3185	51	23	for	for	ADP
fsr-3185	51	24	eighteen	eighteen	NUM
fsr-3185	51	25	industrialized	industrialize	VERB
fsr-3185	51	26	countries	country	NOUN
fsr-3185	51	27	as	as	SCONJ
fsr-3185	51	28	examined	examine	VERB
fsr-3185	51	29	through	through	ADP
fsr-3185	51	30	a	a	DET
fsr-3185	51	31	long	long	ADV
fsr-3185	51	32	-	-	PUNCT
fsr-3185	51	33	run	run	NOUN
fsr-3185	51	34	horizon	horizon	NOUN
fsr-3185	51	35	regression	regression	NOUN
fsr-3185	51	36	model	model	NOUN
fsr-3185	51	37	.	.	PUNCT
fsr-3185	52	1	the	the	DET
fsr-3185	52	2	author	author	NOUN
fsr-3185	52	3	shows	show	VERB
fsr-3185	52	4	that	that	SCONJ
fsr-3185	52	5	international	international	ADJ
fsr-3185	52	6	investor	investor	NOUN
fsr-3185	52	7	sentiment	sentiment	NOUN
fsr-3185	52	8	predicts	predict	VERB
fsr-3185	52	9	future	future	ADJ
fsr-3185	52	10	aggregate	aggregate	ADJ
fsr-3185	52	11	market	market	NOUN
fsr-3185	52	12	returns	return	NOUN
fsr-3185	52	13	,	,	PUNCT
fsr-3185	52	14	and	and	CCONJ
fsr-3185	52	15	the	the	DET
fsr-3185	52	16	impact	impact	NOUN
fsr-3185	52	17	of	of	ADP
fsr-3185	52	18	sentiment	sentiment	NOUN
fsr-3185	52	19	on	on	ADP
fsr-3185	52	20	returns	return	NOUN
fsr-3185	52	21	is	be	AUX
fsr-3185	52	22	stronger	strong	ADJ
fsr-3185	52	23	for	for	ADP
fsr-3185	52	24	countries	country	NOUN
fsr-3185	52	25	that	that	PRON
fsr-3185	52	26	have	have	VERB
fsr-3185	52	27	less	less	ADJ
fsr-3185	52	28	developed	develop	VERB
fsr-3185	52	29	markets	market	NOUN
fsr-3185	52	30	since	since	SCONJ
fsr-3185	52	31	they	they	PRON
fsr-3185	52	32	are	be	AUX
fsr-3185	52	33	more	more	ADV
fsr-3185	52	34	prone	prone	ADJ
fsr-3185	52	35	to	to	ADP
fsr-3185	52	36	investor	investor	NOUN
fsr-3185	52	37	overreaction	overreaction	NOUN
fsr-3185	52	38	.	.	PUNCT
fsr-3185	53	1	the	the	DET
fsr-3185	53	2	results	result	NOUN
fsr-3185	53	3	indicate	indicate	VERB
fsr-3185	53	4	a	a	DET
fsr-3185	53	5	statistically	statistically	ADV
fsr-3185	53	6	significant	significant	ADJ
fsr-3185	53	7	coefficient	coefficient	NOUN
fsr-3185	53	8	for	for	ADP
fsr-3185	53	9	the	the	DET
fsr-3185	53	10	sentiment	sentiment	NOUN
fsr-3185	53	11	variable	variable	NOUN
fsr-3185	53	12	,	,	PUNCT
fsr-3185	53	13	and	and	CCONJ
fsr-3185	53	14	this	this	DET
fsr-3185	53	15	significance	significance	NOUN
fsr-3185	53	16	holds	hold	VERB
fsr-3185	53	17	for	for	ADP
fsr-3185	53	18	various	various	ADJ
fsr-3185	53	19	forecast	forecast	NOUN
fsr-3185	53	20	horizons	horizon	NOUN
fsr-3185	53	21	.	.	PUNCT
fsr-3185	54	1	schmeling	schmele	VERB
fsr-3185	54	2	finds	find	VERB
fsr-3185	54	3	that	that	SCONJ
fsr-3185	54	4	lagged	lag	VERB
fsr-3185	54	5	sentiment	sentiment	NOUN
fsr-3185	54	6	has	have	VERB
fsr-3185	54	7	a	a	DET
fsr-3185	54	8	stronger	strong	ADJ
fsr-3185	54	9	effect	effect	NOUN
fsr-3185	54	10	on	on	ADP
fsr-3185	54	11	stock	stock	NOUN
fsr-3185	54	12	returns	return	NOUN
fsr-3185	54	13	in	in	ADP
fsr-3185	54	14	countries	country	NOUN
fsr-3185	54	15	such	such	ADJ
fsr-3185	54	16	as	as	ADP
fsr-3185	54	17	germany	germany	PROPN
fsr-3185	54	18	,	,	PUNCT
fsr-3185	54	19	japan	japan	PROPN
fsr-3185	54	20	,	,	PUNCT
fsr-3185	54	21	italy	italy	PROPN
fsr-3185	54	22	,	,	PUNCT
fsr-3185	54	23	and	and	CCONJ
fsr-3185	54	24	the	the	DET
fsr-3185	54	25	united	united	PROPN
fsr-3185	54	26	states	states	PROPN
fsr-3185	54	27	,	,	PUNCT
fsr-3185	54	28	but	but	CCONJ
fsr-3185	54	29	little	little	ADJ
fsr-3185	54	30	or	or	CCONJ
fsr-3185	54	31	no	no	PRON
fsr-3185	54	32	evidence	evidence	NOUN
fsr-3185	54	33	of	of	ADP
fsr-3185	54	34	such	such	DET
fsr-3185	54	35	a	a	DET
fsr-3185	54	36	relationship	relationship	NOUN
fsr-3185	54	37	in	in	ADP
fsr-3185	54	38	countries	country	NOUN
fsr-3185	54	39	such	such	ADJ
fsr-3185	54	40	as	as	ADP
fsr-3185	54	41	the	the	DET
fsr-3185	54	42	united	united	ADJ
fsr-3185	54	43	kingdom	kingdom	PROPN
fsr-3185	54	44	,	,	PUNCT
fsr-3185	54	45	australia	australia	PROPN
fsr-3185	54	46	,	,	PUNCT
fsr-3185	54	47	and	and	CCONJ
fsr-3185	54	48	new	new	PROPN
fsr-3185	54	49	zealand	zealand	PROPN
fsr-3185	54	50	.	.	PUNCT
fsr-3185	55	1	further	far	ADV
fsr-3185	55	2	,	,	PUNCT
fsr-3185	55	3	akhtar	akhtar	PROPN
fsr-3185	55	4	et	et	PROPN
fsr-3185	55	5	al	al	PROPN
fsr-3185	55	6	.	.	PROPN
fsr-3185	56	1	(	(	PUNCT
fsr-3185	56	2	2011	2011	NUM
fsr-3185	56	3	)	)	PUNCT
fsr-3185	56	4	study	study	VERB
fsr-3185	56	5	the	the	DET
fsr-3185	56	6	reaction	reaction	NOUN
fsr-3185	56	7	of	of	ADP
fsr-3185	56	8	the	the	DET
fsr-3185	56	9	australian	australian	ADJ
fsr-3185	56	10	stock	stock	NOUN
fsr-3185	56	11	market	market	NOUN
fsr-3185	56	12	by	by	ADP
fsr-3185	56	13	using	use	VERB
fsr-3185	56	14	the	the	DET
fsr-3185	56	15	asymmetric	asymmetric	ADJ
fsr-3185	56	16	response	response	NOUN
fsr-3185	56	17	model	model	NOUN
fsr-3185	56	18	,	,	PUNCT
fsr-3185	56	19	and	and	CCONJ
fsr-3185	56	20	show	show	VERB
fsr-3185	56	21	that	that	SCONJ
fsr-3185	56	22	negative	negative	ADJ
fsr-3185	56	23	changes	change	NOUN
fsr-3185	56	24	in	in	ADP
fsr-3185	56	25	the	the	DET
fsr-3185	56	26	australian	australian	ADJ
fsr-3185	56	27	csi	csi	NOUN
fsr-3185	56	28	have	have	VERB
fsr-3185	56	29	statistically	statistically	ADV
fsr-3185	56	30	significant	significant	ADJ
fsr-3185	56	31	effects	effect	NOUN
fsr-3185	56	32	on	on	ADP
fsr-3185	56	33	market	market	NOUN
fsr-3185	56	34	returns	return	NOUN
fsr-3185	56	35	,	,	PUNCT
fsr-3185	56	36	whereas	whereas	SCONJ
fsr-3185	56	37	positive	positive	ADJ
fsr-3185	56	38	changes	change	NOUN
fsr-3185	56	39	do	do	VERB
fsr-3185	56	40	not	not	PART
fsr-3185	56	41	.	.	PUNCT
fsr-3185	57	1	other	other	ADJ
fsr-3185	57	2	recent	recent	ADJ
fsr-3185	57	3	studies	study	NOUN
fsr-3185	57	4	such	such	ADJ
fsr-3185	57	5	as	as	ADP
fsr-3185	57	6	chung	chung	PROPN
fsr-3185	57	7	et	et	PROPN
fsr-3185	57	8	al	al	PROPN
fsr-3185	57	9	.	.	PROPN
fsr-3185	57	10	(	(	PUNCT
fsr-3185	57	11	2012	2012	NUM
fsr-3185	57	12	)	)	PUNCT
fsr-3185	57	13	,	,	PUNCT
fsr-3185	57	14	stambaugh	stambaugh	NOUN
fsr-3185	57	15	et	et	PROPN
fsr-3185	57	16	al	al	PROPN
fsr-3185	57	17	.	.	PROPN
fsr-3185	57	18	(	(	PUNCT
fsr-3185	57	19	2012	2012	NUM
fsr-3185	57	20	)	)	PUNCT
fsr-3185	57	21	,	,	PUNCT
fsr-3185	57	22	and	and	CCONJ
fsr-3185	57	23	yu	yu	PROPN
fsr-3185	57	24	and	and	CCONJ
fsr-3185	57	25	yuan	yuan	PROPN
fsr-3185	57	26	(	(	PUNCT
fsr-3185	57	27	2011	2011	NUM
fsr-3185	57	28	)	)	PUNCT
fsr-3185	57	29	look	look	VERB
fsr-3185	57	30	at	at	ADP
fsr-3185	57	31	sentiment	sentiment	NOUN
fsr-3185	57	32	’s	’s	PART
fsr-3185	57	33	impact	impact	NOUN
fsr-3185	57	34	on	on	ADP
fsr-3185	57	35	stock	stock	NOUN
fsr-3185	57	36	returns	return	NOUN
fsr-3185	57	37	as	as	ADV
fsr-3185	57	38	well	well	ADV
fsr-3185	57	39	.	.	PUNCT
fsr-3185	58	1	yu	yu	PROPN
fsr-3185	58	2	and	and	CCONJ
fsr-3185	58	3	yuan	yuan	PROPN
fsr-3185	58	4	(	(	PUNCT
fsr-3185	58	5	2011	2011	NUM
fsr-3185	58	6	)	)	PUNCT
fsr-3185	58	7	show	show	VERB
fsr-3185	58	8	the	the	DET
fsr-3185	58	9	influence	influence	NOUN
fsr-3185	58	10	of	of	ADP
fsr-3185	58	11	sentiment	sentiment	NOUN
fsr-3185	58	12	on	on	ADP
fsr-3185	58	13	the	the	DET
fsr-3185	58	14	market	market	NOUN
fsr-3185	58	15	’s	’s	PART
fsr-3185	58	16	mean	mean	ADJ
fsr-3185	58	17	–	–	PUNCT
fsr-3185	58	18	variance	variance	NOUN
fsr-3185	58	19	tradeoff	tradeoff	NOUN
fsr-3185	58	20	using	use	VERB
fsr-3185	58	21	the	the	DET
fsr-3185	58	22	baker	baker	NOUN
fsr-3185	58	23	and	and	CCONJ
fsr-3185	58	24	wurgler	wurgler	PROPN
fsr-3185	58	25	(	(	PUNCT
fsr-3185	58	26	2006	2006	NUM
fsr-3185	58	27	)	)	PUNCT
fsr-3185	58	28	sentiment	sentiment	NOUN
fsr-3185	58	29	index	index	NOUN
fsr-3185	58	30	.	.	PUNCT
fsr-3185	59	1	stambaugh	stambaugh	PROPN
fsr-3185	59	2	et	et	PROPN
fsr-3185	59	3	al	al	PROPN
fsr-3185	59	4	.	.	PROPN
fsr-3185	60	1	(	(	PUNCT
fsr-3185	60	2	2012	2012	NUM
fsr-3185	60	3	)	)	PUNCT
fsr-3185	60	4	also	also	ADV
fsr-3185	60	5	use	use	VERB
fsr-3185	60	6	the	the	DET
fsr-3185	60	7	baker	baker	NOUN
fsr-3185	60	8	and	and	CCONJ
fsr-3185	60	9	wurgler	wurgler	PROPN
fsr-3185	60	10	(	(	PUNCT
fsr-3185	60	11	2006	2006	NUM
fsr-3185	60	12	)	)	PUNCT
fsr-3185	60	13	sentiment	sentiment	NOUN
fsr-3185	60	14	index	index	NOUN
fsr-3185	60	15	and	and	CCONJ
fsr-3185	60	16	test	test	NOUN
fsr-3185	60	17	sentiment	sentiment	NOUN
fsr-3185	60	18	’s	’s	PART
fsr-3185	60	19	role	role	NOUN
fsr-3185	60	20	when	when	SCONJ
fsr-3185	60	21	accounting	account	VERB
fsr-3185	60	22	for	for	ADP
fsr-3185	60	23	documented	document	VERB
fsr-3185	60	24	anomalies	anomaly	NOUN
fsr-3185	60	25	in	in	ADP
fsr-3185	60	26	investing	invest	VERB
fsr-3185	60	27	strategies	strategy	NOUN
fsr-3185	60	28	such	such	ADJ
fsr-3185	60	29	as	as	ADP
fsr-3185	60	30	a	a	DET
fsr-3185	60	31	long	long	ADV
fsr-3185	60	32	-	-	PUNCT
fsr-3185	60	33	short	short	ADJ
fsr-3185	60	34	strategy	strategy	NOUN
fsr-3185	60	35	.	.	PUNCT
fsr-3185	61	1	both	both	PRON
fsr-3185	61	2	of	of	ADP
fsr-3185	61	3	these	these	DET
fsr-3185	61	4	studies	study	NOUN
fsr-3185	61	5	show	show	VERB
fsr-3185	61	6	evidence	evidence	NOUN
fsr-3185	61	7	related	relate	VERB
fsr-3185	61	8	to	to	ADP
fsr-3185	61	9	the	the	DET
fsr-3185	61	10	stock	stock	NOUN
fsr-3185	61	11	return	return	VERB
fsr-3185	61	12	predictive	predictive	ADJ
fsr-3185	61	13	ability	ability	NOUN
fsr-3185	61	14	of	of	ADP
fsr-3185	61	15	sentiment	sentiment	NOUN
fsr-3185	61	16	.	.	PUNCT
fsr-3185	62	1	chung	chung	PROPN
fsr-3185	62	2	et	et	PROPN
fsr-3185	62	3	al	al	PROPN
fsr-3185	62	4	.	.	PROPN
fsr-3185	63	1	(	(	PUNCT
fsr-3185	63	2	2012	2012	NUM
fsr-3185	63	3	)	)	PUNCT
fsr-3185	63	4	incorporates	incorporate	VERB
fsr-3185	63	5	47m.a	47m.a	NUM
fsr-3185	63	6	.	.	PUNCT
fsr-3185	64	1	johnson	johnson	PROPN
fsr-3185	64	2	,	,	PUNCT
fsr-3185	64	3	a.	a.	PROPN
fsr-3185	64	4	naka	naka	PROPN
fsr-3185	64	5	/	/	SYM
fsr-3185	64	6	financial	financial	ADJ
fsr-3185	64	7	services	service	NOUN
fsr-3185	64	8	review	review	VERB
fsr-3185	64	9	23	23	NUM
fsr-3185	64	10	(	(	PUNCT
fsr-3185	64	11	2014	2014	NUM
fsr-3185	64	12	)	)	PUNCT
fsr-3185	64	13	45–61	45–61	NUM
fsr-3185	64	14	business	business	NOUN
fsr-3185	64	15	cycles	cycle	NOUN
fsr-3185	64	16	(	(	PUNCT
fsr-3185	64	17	i.e.	i.e.	X
fsr-3185	64	18	,	,	PUNCT
fsr-3185	64	19	economic	economic	ADJ
fsr-3185	64	20	expansions	expansion	NOUN
fsr-3185	64	21	and	and	CCONJ
fsr-3185	64	22	recessions	recession	NOUN
fsr-3185	64	23	)	)	PUNCT
fsr-3185	64	24	into	into	ADP
fsr-3185	64	25	their	their	PRON
fsr-3185	64	26	modeling	modeling	NOUN
fsr-3185	64	27	to	to	PART
fsr-3185	64	28	show	show	VERB
fsr-3185	64	29	that	that	SCONJ
fsr-3185	64	30	during	during	ADP
fsr-3185	64	31	recessions	recession	NOUN
fsr-3185	64	32	,	,	PUNCT
fsr-3185	64	33	the	the	DET
fsr-3185	64	34	predictive	predictive	ADJ
fsr-3185	64	35	power	power	NOUN
fsr-3185	64	36	of	of	ADP
fsr-3185	64	37	sentiment	sentiment	NOUN
fsr-3185	64	38	is	be	AUX
fsr-3185	64	39	not	not	PART
fsr-3185	64	40	nearly	nearly	ADV
fsr-3185	64	41	as	as	ADV
fsr-3185	64	42	strong	strong	ADJ
fsr-3185	64	43	and	and	CCONJ
fsr-3185	64	44	can	can	AUX
fsr-3185	64	45	possibly	possibly	ADV
fsr-3185	64	46	be	be	AUX
fsr-3185	64	47	insignificant	insignificant	ADJ
fsr-3185	64	48	.	.	PUNCT
fsr-3185	65	1	our	our	PRON
fsr-3185	65	2	benchmark	benchmark	NOUN
fsr-3185	65	3	model	model	NOUN
fsr-3185	65	4	provides	provide	VERB
fsr-3185	65	5	evidence	evidence	NOUN
fsr-3185	65	6	that	that	SCONJ
fsr-3185	65	7	sentiment	sentiment	NOUN
fsr-3185	65	8	matters	matter	VERB
fsr-3185	65	9	more	more	ADV
fsr-3185	65	10	in	in	ADP
fsr-3185	65	11	forecasting	forecast	VERB
fsr-3185	65	12	near	near	ADJ
fsr-3185	65	13	-	-	PUNCT
fsr-3185	65	14	term	term	NOUN
fsr-3185	65	15	market	market	NOUN
fsr-3185	65	16	risk	risk	NOUN
fsr-3185	65	17	premiums	premium	NOUN
fsr-3185	65	18	versus	versus	ADP
fsr-3185	65	19	farther	far	ADV
fsr-3185	65	20	out	out	ADP
fsr-3185	65	21	time	time	NOUN
fsr-3185	65	22	horizons	horizon	NOUN
fsr-3185	65	23	.	.	PUNCT
fsr-3185	66	1	by	by	ADP
fsr-3185	66	2	including	include	VERB
fsr-3185	66	3	various	various	ADJ
fsr-3185	66	4	time	time	NOUN
fsr-3185	66	5	horizons	horizon	NOUN
fsr-3185	66	6	of	of	ADP
fsr-3185	66	7	equity	equity	NOUN
fsr-3185	66	8	holding	holding	NOUN
fsr-3185	66	9	-	-	PUNCT
fsr-3185	66	10	period	period	NOUN
fsr-3185	66	11	returns	return	NOUN
fsr-3185	66	12	into	into	ADP
fsr-3185	66	13	consideration	consideration	NOUN
fsr-3185	66	14	,	,	PUNCT
fsr-3185	66	15	we	we	PRON
fsr-3185	66	16	find	find	VERB
fsr-3185	66	17	that	that	DET
fsr-3185	66	18	sentiment	sentiment	NOUN
fsr-3185	66	19	has	have	VERB
fsr-3185	66	20	a	a	DET
fsr-3185	66	21	greater	great	ADJ
fsr-3185	66	22	ability	ability	NOUN
fsr-3185	66	23	to	to	PART
fsr-3185	66	24	explain	explain	VERB
fsr-3185	66	25	market	market	NOUN
fsr-3185	66	26	risk	risk	NOUN
fsr-3185	66	27	premiums	premium	NOUN
fsr-3185	66	28	and	and	CCONJ
fsr-3185	66	29	forecast	forecast	NOUN
fsr-3185	66	30	equity	equity	NOUN
fsr-3185	66	31	returns	return	NOUN
fsr-3185	66	32	in	in	ADP
fsr-3185	66	33	the	the	DET
fsr-3185	66	34	short	short	ADJ
fsr-3185	66	35	-	-	PUNCT
fsr-3185	66	36	run	run	NOUN
fsr-3185	66	37	than	than	ADP
fsr-3185	66	38	in	in	ADP
fsr-3185	66	39	the	the	DET
fsr-3185	66	40	long	long	ADV
fsr-3185	66	41	-	-	PUNCT
fsr-3185	66	42	run	run	NOUN
fsr-3185	66	43	.	.	PUNCT
fsr-3185	67	1	as	as	ADP
fsr-3185	67	2	a	a	DET
fsr-3185	67	3	result	result	NOUN
fsr-3185	67	4	,	,	PUNCT
fsr-3185	67	5	individual	individual	ADJ
fsr-3185	67	6	investors	investor	NOUN
fsr-3185	67	7	and	and	CCONJ
fsr-3185	67	8	financial	financial	ADJ
fsr-3185	67	9	planners	planner	NOUN
fsr-3185	67	10	that	that	PRON
fsr-3185	67	11	track	track	VERB
fsr-3185	67	12	consumer	consumer	NOUN
fsr-3185	67	13	sentiment	sentiment	NOUN
fsr-3185	67	14	as	as	ADP
fsr-3185	67	15	an	an	DET
fsr-3185	67	16	economic	economic	ADJ
fsr-3185	67	17	indicator	indicator	NOUN
fsr-3185	67	18	used	use	VERB
fsr-3185	67	19	in	in	ADP
fsr-3185	67	20	investing	investing	NOUN
fsr-3185	67	21	should	should	AUX
fsr-3185	67	22	exercise	exercise	VERB
fsr-3185	67	23	caution	caution	NOUN
fsr-3185	67	24	when	when	SCONJ
fsr-3185	67	25	using	use	VERB
fsr-3185	67	26	sentiment	sentiment	NOUN
fsr-3185	67	27	as	as	ADP
fsr-3185	67	28	an	an	DET
fsr-3185	67	29	indicator	indicator	NOUN
fsr-3185	67	30	to	to	PART
fsr-3185	67	31	forecast	forecast	VERB
fsr-3185	67	32	equity	equity	NOUN
fsr-3185	67	33	returns	return	NOUN
fsr-3185	67	34	too	too	ADV
fsr-3185	67	35	far	far	ADV
fsr-3185	67	36	into	into	ADP
fsr-3185	67	37	the	the	DET
fsr-3185	67	38	future	future	NOUN
fsr-3185	67	39	.	.	PUNCT
fsr-3185	68	1	we	we	PRON
fsr-3185	68	2	show	show	VERB
fsr-3185	68	3	that	that	SCONJ
fsr-3185	68	4	negative	negative	ADJ
fsr-3185	68	5	changes	change	NOUN
fsr-3185	68	6	in	in	ADP
fsr-3185	68	7	sentiment	sentiment	NOUN
fsr-3185	68	8	matters	matter	VERB
fsr-3185	68	9	more	more	ADV
fsr-3185	68	10	in	in	ADP
fsr-3185	68	11	explaining	explain	VERB
fsr-3185	68	12	market	market	NOUN
fsr-3185	68	13	risk	risk	NOUN
fsr-3185	68	14	premiums	premium	NOUN
fsr-3185	68	15	than	than	ADP
fsr-3185	68	16	positive	positive	ADJ
fsr-3185	68	17	changes	change	NOUN
fsr-3185	68	18	in	in	ADP
fsr-3185	68	19	sentiment	sentiment	NOUN
fsr-3185	68	20	based	base	VERB
fsr-3185	68	21	on	on	ADP
fsr-3185	68	22	asymmetric	asymmetric	ADJ
fsr-3185	68	23	response	response	NOUN
fsr-3185	68	24	models	model	NOUN
fsr-3185	68	25	that	that	PRON
fsr-3185	68	26	account	account	VERB
fsr-3185	68	27	for	for	ADP
fsr-3185	68	28	unequal	unequal	ADJ
fsr-3185	68	29	responses	response	NOUN
fsr-3185	68	30	to	to	ADP
fsr-3185	68	31	negative	negative	ADJ
fsr-3185	68	32	events	event	NOUN
fsr-3185	68	33	and	and	CCONJ
fsr-3185	68	34	positive	positive	ADJ
fsr-3185	68	35	events	event	NOUN
fsr-3185	68	36	.	.	PUNCT
fsr-3185	69	1	this	this	DET
fsr-3185	69	2	finding	finding	NOUN
fsr-3185	69	3	supports	support	VERB
fsr-3185	69	4	the	the	DET
fsr-3185	69	5	prospect	prospect	NOUN
fsr-3185	69	6	theory	theory	NOUN
fsr-3185	69	7	developed	develop	VERB
fsr-3185	69	8	by	by	ADP
fsr-3185	69	9	kahneman	kahneman	NOUN
fsr-3185	69	10	and	and	CCONJ
fsr-3185	69	11	tversky	tversky	PROPN
fsr-3185	69	12	(	(	PUNCT
fsr-3185	69	13	1979	1979	NUM
fsr-3185	69	14	)	)	PUNCT
fsr-3185	69	15	as	as	ADP
fsr-3185	69	16	to	to	ADP
fsr-3185	69	17	possible	possible	ADJ
fsr-3185	69	18	losses	loss	NOUN
fsr-3185	69	19	mattering	matter	VERB
fsr-3185	69	20	more	more	ADV
fsr-3185	69	21	to	to	ADP
fsr-3185	69	22	individuals	individual	NOUN
fsr-3185	69	23	than	than	ADP
fsr-3185	69	24	possible	possible	ADJ
fsr-3185	69	25	gains	gain	NOUN
fsr-3185	69	26	.	.	PUNCT
fsr-3185	70	1	this	this	PRON
fsr-3185	70	2	can	can	AUX
fsr-3185	70	3	benefit	benefit	VERB
fsr-3185	70	4	individual	individual	ADJ
fsr-3185	70	5	investors	investor	NOUN
fsr-3185	70	6	and	and	CCONJ
fsr-3185	70	7	financial	financial	ADJ
fsr-3185	70	8	planners	planner	NOUN
fsr-3185	70	9	because	because	SCONJ
fsr-3185	70	10	if	if	SCONJ
fsr-3185	70	11	consumer	consumer	NOUN
fsr-3185	70	12	sentiment	sentiment	NOUN
fsr-3185	70	13	begins	begin	VERB
fsr-3185	70	14	to	to	PART
fsr-3185	70	15	decrease	decrease	VERB
fsr-3185	70	16	(	(	PUNCT
fsr-3185	70	17	increase	increase	VERB
fsr-3185	70	18	)	)	PUNCT
fsr-3185	70	19	because	because	SCONJ
fsr-3185	70	20	of	of	ADP
fsr-3185	70	21	macroeconomic	macroeconomic	ADJ
fsr-3185	70	22	conditions	condition	NOUN
fsr-3185	70	23	,	,	PUNCT
fsr-3185	70	24	more	more	ADJ
fsr-3185	70	25	(	(	PUNCT
fsr-3185	70	26	less	less	ADJ
fsr-3185	70	27	)	)	PUNCT
fsr-3185	70	28	credence	credence	NOUN
fsr-3185	70	29	can	can	AUX
fsr-3185	70	30	be	be	AUX
fsr-3185	70	31	placed	place	VERB
fsr-3185	70	32	on	on	ADP
fsr-3185	70	33	consumer	consumer	NOUN
fsr-3185	70	34	sentiment	sentiment	NOUN
fsr-3185	70	35	as	as	ADP
fsr-3185	70	36	a	a	DET
fsr-3185	70	37	potential	potential	ADJ
fsr-3185	70	38	forecaster	forecaster	NOUN
fsr-3185	70	39	of	of	ADP
fsr-3185	70	40	future	future	ADJ
fsr-3185	70	41	equity	equity	NOUN
fsr-3185	70	42	returns	return	NOUN
fsr-3185	70	43	.	.	PUNCT
fsr-3185	71	1	however	however	ADV
fsr-3185	71	2	,	,	PUNCT
fsr-3185	71	3	we	we	PRON
fsr-3185	71	4	observe	observe	VERB
fsr-3185	71	5	that	that	SCONJ
fsr-3185	71	6	younger	young	ADJ
fsr-3185	71	7	individuals	individual	NOUN
fsr-3185	71	8	appear	appear	VERB
fsr-3185	71	9	to	to	PART
fsr-3185	71	10	be	be	AUX
fsr-3185	71	11	less	less	ADJ
fsr-3185	71	12	risk	risk	NOUN
fsr-3185	71	13	-	-	PUNCT
fsr-3185	71	14	averse	averse	ADJ
fsr-3185	71	15	than	than	ADP
fsr-3185	71	16	older	old	ADJ
fsr-3185	71	17	individuals	individual	NOUN
fsr-3185	71	18	.	.	PUNCT
fsr-3185	72	1	finally	finally	ADV
fsr-3185	72	2	,	,	PUNCT
fsr-3185	72	3	the	the	DET
fsr-3185	72	4	current	current	ADJ
fsr-3185	72	5	article	article	NOUN
fsr-3185	72	6	examines	examine	VERB
fsr-3185	72	7	the	the	DET
fsr-3185	72	8	noise	noise	NOUN
fsr-3185	72	9	trader	trader	NOUN
fsr-3185	72	10	hypothesis	hypothesis	NOUN
fsr-3185	72	11	by	by	ADP
fsr-3185	72	12	using	use	VERB
fsr-3185	72	13	10	10	NUM
fsr-3185	72	14	size	size	NOUN
fsr-3185	72	15	-	-	PUNCT
fsr-3185	72	16	sorted	sort	VERB
fsr-3185	72	17	portfolio	portfolio	NOUN
fsr-3185	72	18	returns	return	NOUN
fsr-3185	72	19	,	,	PUNCT
fsr-3185	72	20	and	and	CCONJ
fsr-3185	72	21	finds	find	VERB
fsr-3185	72	22	that	that	SCONJ
fsr-3185	72	23	smaller	small	ADJ
fsr-3185	72	24	market	market	NOUN
fsr-3185	72	25	cap	cap	NOUN
fsr-3185	72	26	stocks	stock	NOUN
fsr-3185	72	27	are	be	AUX
fsr-3185	72	28	more	more	ADV
fsr-3185	72	29	impacted	impact	VERB
fsr-3185	72	30	by	by	ADP
fsr-3185	72	31	changes	change	NOUN
fsr-3185	72	32	in	in	ADP
fsr-3185	72	33	consumer	consumer	NOUN
fsr-3185	72	34	sentiment	sentiment	NOUN
fsr-3185	72	35	,	,	PUNCT
fsr-3185	72	36	a	a	DET
fsr-3185	72	37	result	result	NOUN
fsr-3185	72	38	consistent	consistent	ADJ
fsr-3185	72	39	with	with	ADP
fsr-3185	72	40	the	the	DET
fsr-3185	72	41	previous	previous	ADJ
fsr-3185	72	42	literature	literature	NOUN
fsr-3185	72	43	.	.	PUNCT
fsr-3185	73	1	our	our	PRON
fsr-3185	73	2	final	final	ADJ
fsr-3185	73	3	finding	finding	NOUN
fsr-3185	73	4	further	far	ADV
fsr-3185	73	5	reminds	remind	VERB
fsr-3185	73	6	individual	individual	ADJ
fsr-3185	73	7	investors	investor	NOUN
fsr-3185	73	8	and	and	CCONJ
fsr-3185	73	9	financial	financial	ADJ
fsr-3185	73	10	planners	planner	NOUN
fsr-3185	73	11	that	that	SCONJ
fsr-3185	73	12	small	small	ADJ
fsr-3185	73	13	-	-	PUNCT
fsr-3185	73	14	cap	cap	NOUN
fsr-3185	73	15	stocks	stock	NOUN
fsr-3185	73	16	have	have	VERB
fsr-3185	73	17	the	the	DET
fsr-3185	73	18	potential	potential	NOUN
fsr-3185	73	19	to	to	PART
fsr-3185	73	20	be	be	AUX
fsr-3185	73	21	riskier	risky	ADJ
fsr-3185	73	22	than	than	ADP
fsr-3185	73	23	large	large	ADJ
fsr-3185	73	24	-	-	PUNCT
fsr-3185	73	25	cap	cap	NOUN
fsr-3185	73	26	stocks	stock	NOUN
fsr-3185	73	27	.	.	PUNCT
fsr-3185	74	1	2	2	X
fsr-3185	74	2	.	.	X
fsr-3185	74	3	methodology	methodology	NOUN
fsr-3185	74	4	and	and	CCONJ
fsr-3185	74	5	data	datum	NOUN
fsr-3185	74	6	2.1	2.1	NUM
fsr-3185	74	7	.	.	PUNCT
fsr-3185	75	1	empirical	empirical	ADJ
fsr-3185	75	2	models	model	NOUN
fsr-3185	75	3	to	to	PART
fsr-3185	75	4	test	test	VERB
fsr-3185	75	5	if	if	SCONJ
fsr-3185	75	6	consumer	consumer	NOUN
fsr-3185	75	7	sentiment	sentiment	NOUN
fsr-3185	75	8	has	have	VERB
fsr-3185	75	9	a	a	DET
fsr-3185	75	10	near	near	ADJ
fsr-3185	75	11	-	-	PUNCT
fsr-3185	75	12	term	term	NOUN
fsr-3185	75	13	or	or	CCONJ
fsr-3185	75	14	long	long	ADJ
fsr-3185	75	15	-	-	PUNCT
fsr-3185	75	16	term	term	NOUN
fsr-3185	75	17	impact	impact	NOUN
fsr-3185	75	18	on	on	ADP
fsr-3185	75	19	the	the	DET
fsr-3185	75	20	stock	stock	NOUN
fsr-3185	75	21	market	market	NOUN
fsr-3185	75	22	,	,	PUNCT
fsr-3185	75	23	we	we	PRON
fsr-3185	75	24	utilize	utilize	VERB
fsr-3185	75	25	long	long	ADJ
fsr-3185	75	26	-	-	PUNCT
fsr-3185	75	27	horizon	horizon	NOUN
fsr-3185	75	28	regressions	regression	NOUN
fsr-3185	75	29	.	.	PUNCT
fsr-3185	76	1	by	by	ADP
fsr-3185	76	2	testing	test	VERB
fsr-3185	76	3	different	different	ADJ
fsr-3185	76	4	future	future	ADJ
fsr-3185	76	5	time	time	NOUN
fsr-3185	76	6	periods	period	NOUN
fsr-3185	76	7	(	(	PUNCT
fsr-3185	76	8	horizons	horizon	NOUN
fsr-3185	76	9	)	)	PUNCT
fsr-3185	76	10	,	,	PUNCT
fsr-3185	76	11	we	we	PRON
fsr-3185	76	12	investigate	investigate	VERB
fsr-3185	76	13	whether	whether	SCONJ
fsr-3185	76	14	or	or	CCONJ
fsr-3185	76	15	not	not	PART
fsr-3185	76	16	changes	change	NOUN
fsr-3185	76	17	in	in	ADP
fsr-3185	76	18	csi	csi	PROPN
fsr-3185	76	19	have	have	VERB
fsr-3185	76	20	such	such	ADJ
fsr-3185	76	21	future	future	ADJ
fsr-3185	76	22	explanatory	explanatory	ADJ
fsr-3185	76	23	power	power	NOUN
fsr-3185	76	24	.	.	PUNCT
fsr-3185	77	1	long	long	ADJ
fsr-3185	77	2	-	-	PUNCT
fsr-3185	77	3	horizon	horizon	NOUN
fsr-3185	77	4	financial	financial	ADJ
fsr-3185	77	5	models	model	NOUN
fsr-3185	77	6	are	be	AUX
fsr-3185	77	7	popular	popular	ADJ
fsr-3185	77	8	and	and	CCONJ
fsr-3185	77	9	have	have	AUX
fsr-3185	77	10	been	be	AUX
fsr-3185	77	11	used	use	VERB
fsr-3185	77	12	in	in	ADP
fsr-3185	77	13	prior	prior	ADJ
fsr-3185	77	14	studies	study	NOUN
fsr-3185	77	15	.	.	PUNCT
fsr-3185	78	1	for	for	ADP
fsr-3185	78	2	example	example	NOUN
fsr-3185	78	3	,	,	PUNCT
fsr-3185	78	4	rich	rich	ADJ
fsr-3185	78	5	and	and	CCONJ
fsr-3185	78	6	reichenstein	reichenstein	PROPN
fsr-3185	78	7	(	(	PUNCT
fsr-3185	78	8	1993	1993	NUM
fsr-3185	78	9	)	)	PUNCT
fsr-3185	78	10	use	use	VERB
fsr-3185	78	11	a	a	DET
fsr-3185	78	12	type	type	NOUN
fsr-3185	78	13	of	of	ADP
fsr-3185	78	14	long	long	ADJ
fsr-3185	78	15	-	-	PUNCT
fsr-3185	78	16	horizon	horizon	NOUN
fsr-3185	78	17	model	model	NOUN
fsr-3185	78	18	to	to	PART
fsr-3185	78	19	see	see	VERB
fsr-3185	78	20	if	if	SCONJ
fsr-3185	78	21	individual	individual	ADJ
fsr-3185	78	22	investors	investor	NOUN
fsr-3185	78	23	can	can	AUX
fsr-3185	78	24	time	time	VERB
fsr-3185	78	25	the	the	DET
fsr-3185	78	26	stock	stock	NOUN
fsr-3185	78	27	market	market	NOUN
fsr-3185	78	28	.	.	PUNCT
fsr-3185	79	1	our	our	PRON
fsr-3185	79	2	benchmark	benchmark	ADJ
fsr-3185	79	3	long	long	ADJ
fsr-3185	79	4	-	-	PUNCT
fsr-3185	79	5	horizon	horizon	NOUN
fsr-3185	79	6	regression	regression	NOUN
fsr-3185	79	7	model	model	NOUN
fsr-3185	79	8	is	be	AUX
fsr-3185	79	9	given	give	VERB
fsr-3185	79	10	as:5	as:5	PROPN
fsr-3185	79	11	ri	ri	NOUN
fsr-3185	79	12	,	,	PUNCT
fsr-3185	79	13	t!1	t!1	ADP
fsr-3185	79	14	!	!	PUNCT
fsr-3185	79	15	.	.	PUNCT
fsr-3185	79	16	.	.	PUNCT
fsr-3185	79	17	.	.	PUNCT
fsr-3185	79	18	!	!	PUNCT
fsr-3185	80	1	ri	ri	PROPN
fsr-3185	80	2	,	,	PUNCT
fsr-3185	80	3	t!k	t!k	PROPN
fsr-3185	80	4	"	"	PUNCT
fsr-3185	81	1	#	#	ADP
fsr-3185	81	2	"	"	PUNCT
fsr-3185	81	3	k	k	NOUN
fsr-3185	81	4	#	#	NOUN
fsr-3185	81	5	!	!	PUNCT
fsr-3185	82	1	$	$	SYM
fsr-3185	82	2	"	"	PUNCT
fsr-3185	82	3	k#$csit	k#$csit	PROPN
fsr-3185	82	4	!	!	PUNCT
fsr-3185	83	1	%	%	INTJ
fsr-3185	84	1	t!k	t!k	ADV
fsr-3185	84	2	,	,	PUNCT
fsr-3185	84	3	k	k	PROPN
fsr-3185	84	4	"	"	PUNCT
fsr-3185	84	5	1	1	NUM
fsr-3185	84	6	,	,	PUNCT
fsr-3185	84	7	3	3	NUM
fsr-3185	84	8	,	,	PUNCT
fsr-3185	84	9	6	6	NUM
fsr-3185	84	10	,	,	PUNCT
fsr-3185	84	11	12	12	NUM
fsr-3185	84	12	,	,	PUNCT
fsr-3185	84	13	24	24	NUM
fsr-3185	84	14	,	,	PUNCT
fsr-3185	84	15	(	(	PUNCT
fsr-3185	84	16	1	1	X
fsr-3185	84	17	)	)	PUNCT
fsr-3185	84	18	where	where	SCONJ
fsr-3185	84	19	ri	ri	PROPN
fsr-3185	84	20	,	,	PUNCT
fsr-3185	84	21	t!k	t!k	PROPN
fsr-3185	84	22	is	be	AUX
fsr-3185	84	23	the	the	DET
fsr-3185	84	24	excess	excess	ADJ
fsr-3185	84	25	return	return	NOUN
fsr-3185	84	26	of	of	ADP
fsr-3185	84	27	equity	equity	NOUN
fsr-3185	84	28	index	index	NOUN
fsr-3185	84	29	i	i	PRON
fsr-3185	84	30	over	over	ADP
fsr-3185	84	31	k	k	PROPN
fsr-3185	84	32	month	month	NOUN
fsr-3185	84	33	periods	period	NOUN
fsr-3185	84	34	,	,	PUNCT
fsr-3185	84	35	and	and	CCONJ
fsr-3185	84	36	excess	excess	ADJ
fsr-3185	84	37	returns	return	NOUN
fsr-3185	84	38	are	be	AUX
fsr-3185	84	39	defined	define	VERB
fsr-3185	84	40	as	as	ADP
fsr-3185	84	41	the	the	DET
fsr-3185	84	42	equity	equity	NOUN
fsr-3185	84	43	returns	return	NOUN
fsr-3185	84	44	minus	minus	CCONJ
fsr-3185	84	45	the	the	DET
fsr-3185	84	46	risk	risk	NOUN
fsr-3185	84	47	free	free	ADJ
fsr-3185	84	48	rate	rate	NOUN
fsr-3185	84	49	.	.	PUNCT
fsr-3185	85	1	the	the	DET
fsr-3185	85	2	risk	risk	NOUN
fsr-3185	85	3	free	free	ADJ
fsr-3185	85	4	rate	rate	NOUN
fsr-3185	85	5	is	be	AUX
fsr-3185	85	6	the	the	DET
fsr-3185	85	7	monthly	monthly	ADJ
fsr-3185	85	8	yield	yield	NOUN
fsr-3185	85	9	on	on	ADP
fsr-3185	85	10	a	a	DET
fsr-3185	85	11	30	30	NUM
fsr-3185	85	12	day	day	NOUN
fsr-3185	85	13	treasury	treasury	NOUN
fsr-3185	85	14	bill	bill	NOUN
fsr-3185	85	15	.	.	PUNCT
fsr-3185	86	1	$	$	SYM
fsr-3185	86	2	csit	csit	NOUN
fsr-3185	86	3	is	be	AUX
fsr-3185	86	4	the	the	DET
fsr-3185	86	5	monthly	monthly	ADJ
fsr-3185	86	6	percentage	percentage	NOUN
fsr-3185	86	7	change	change	NOUN
fsr-3185	86	8	in	in	ADP
fsr-3185	86	9	the	the	DET
fsr-3185	86	10	csi	csi	NOUN
fsr-3185	86	11	,	,	PUNCT
fsr-3185	86	12	that	that	ADV
fsr-3185	86	13	is	is	ADV
fsr-3185	86	14	,	,	PUNCT
fsr-3185	86	15	$	$	SYM
fsr-3185	86	16	csit	csit	NOUN
fsr-3185	86	17	%	%	NOUN
fsr-3185	86	18	(	(	PUNCT
fsr-3185	86	19	csit!1	csit!1	NOUN
fsr-3185	86	20	&	&	CCONJ
fsr-3185	86	21	csit)/csit	csit)/csit	PROPN
fsr-3185	86	22	and	and	CCONJ
fsr-3185	86	23	%	%	INTJ
fsr-3185	86	24	t!k	t!k	PROPN
fsr-3185	86	25	is	be	AUX
fsr-3185	86	26	the	the	DET
fsr-3185	86	27	residual	residual	ADJ
fsr-3185	86	28	term	term	NOUN
fsr-3185	86	29	for	for	ADP
fsr-3185	86	30	horizon	horizon	NOUN
fsr-3185	86	31	k.	k.	PROPN
fsr-3185	87	1	a	a	DET
fsr-3185	87	2	direct	direct	ADJ
fsr-3185	87	3	test	test	NOUN
fsr-3185	87	4	of	of	ADP
fsr-3185	87	5	downside	downside	ADJ
fsr-3185	87	6	risk	risk	NOUN
fsr-3185	87	7	within	within	ADP
fsr-3185	87	8	the	the	DET
fsr-3185	87	9	context	context	NOUN
fsr-3185	87	10	of	of	ADP
fsr-3185	87	11	the	the	DET
fsr-3185	87	12	prospect	prospect	NOUN
fsr-3185	87	13	theory	theory	NOUN
fsr-3185	87	14	would	would	AUX
fsr-3185	87	15	be	be	AUX
fsr-3185	87	16	to	to	ADP
fsr-3185	87	17	48	48	NUM
fsr-3185	87	18	m.a	m.a	PROPN
fsr-3185	87	19	.	.	PROPN
fsr-3185	87	20	johnson	johnson	PROPN
fsr-3185	87	21	,	,	PUNCT
fsr-3185	87	22	a.	a.	PROPN
fsr-3185	87	23	naka	naka	PROPN
fsr-3185	87	24	/	/	SYM
fsr-3185	87	25	financial	financial	ADJ
fsr-3185	87	26	services	service	NOUN
fsr-3185	87	27	review	review	VERB
fsr-3185	87	28	23	23	NUM
fsr-3185	87	29	(	(	PUNCT
fsr-3185	87	30	2014	2014	NUM
fsr-3185	87	31	)	)	PUNCT
fsr-3185	88	1	45–61	45–61	NUM
fsr-3185	88	2	observe	observe	VERB
fsr-3185	88	3	how	how	SCONJ
fsr-3185	88	4	negative	negative	ADJ
fsr-3185	88	5	or	or	CCONJ
fsr-3185	88	6	positive	positive	ADJ
fsr-3185	88	7	changes	change	NOUN
fsr-3185	88	8	in	in	ADP
fsr-3185	88	9	consumer	consumer	NOUN
fsr-3185	88	10	sentiment	sentiment	NOUN
fsr-3185	88	11	alter	alter	VERB
fsr-3185	88	12	the	the	DET
fsr-3185	88	13	stock	stock	NOUN
fsr-3185	88	14	returns	return	NOUN
fsr-3185	88	15	.	.	PUNCT
fsr-3185	89	1	harlow	harlow	PROPN
fsr-3185	89	2	and	and	CCONJ
fsr-3185	89	3	rao	rao	PROPN
fsr-3185	89	4	(	(	PUNCT
fsr-3185	89	5	1989	1989	NUM
fsr-3185	89	6	)	)	PUNCT
fsr-3185	89	7	provide	provide	VERB
fsr-3185	89	8	a	a	DET
fsr-3185	89	9	simple	simple	ADJ
fsr-3185	89	10	way	way	NOUN
fsr-3185	89	11	of	of	ADP
fsr-3185	89	12	measuring	measure	VERB
fsr-3185	89	13	asymmetric	asymmetric	ADJ
fsr-3185	89	14	responses	response	NOUN
fsr-3185	89	15	to	to	PART
fsr-3185	89	16	account	account	VERB
fsr-3185	89	17	for	for	ADP
fsr-3185	89	18	individuals	individual	NOUN
fsr-3185	89	19	exhibiting	exhibit	VERB
fsr-3185	89	20	downside	downside	ADJ
fsr-3185	89	21	risk	risk	NOUN
fsr-3185	89	22	.	.	PUNCT
fsr-3185	90	1	in	in	ADP
fsr-3185	90	2	the	the	DET
fsr-3185	90	3	context	context	NOUN
fsr-3185	90	4	of	of	ADP
fsr-3185	90	5	this	this	DET
fsr-3185	90	6	article	article	NOUN
fsr-3185	90	7	,	,	PUNCT
fsr-3185	90	8	the	the	DET
fsr-3185	90	9	asymmetric	asymmetric	ADJ
fsr-3185	90	10	response	response	NOUN
fsr-3185	90	11	model	model	NOUN
fsr-3185	90	12	is	be	AUX
fsr-3185	90	13	one	one	NUM
fsr-3185	90	14	way	way	NOUN
fsr-3185	90	15	of	of	ADP
fsr-3185	90	16	blending	blend	VERB
fsr-3185	90	17	the	the	DET
fsr-3185	90	18	prospect	prospect	NOUN
fsr-3185	90	19	theory	theory	NOUN
fsr-3185	90	20	and	and	CCONJ
fsr-3185	90	21	downside	downside	ADJ
fsr-3185	90	22	risk	risk	NOUN
fsr-3185	90	23	based	base	VERB
fsr-3185	90	24	on	on	ADP
fsr-3185	90	25	the	the	DET
fsr-3185	90	26	documented	document	VERB
fsr-3185	90	27	fact	fact	NOUN
fsr-3185	90	28	that	that	SCONJ
fsr-3185	90	29	responses	response	NOUN
fsr-3185	90	30	to	to	ADP
fsr-3185	90	31	losses	loss	NOUN
fsr-3185	90	32	and	and	CCONJ
fsr-3185	90	33	gains	gain	NOUN
fsr-3185	90	34	are	be	AUX
fsr-3185	90	35	not	not	PART
fsr-3185	90	36	the	the	DET
fsr-3185	90	37	same	same	ADJ
fsr-3185	90	38	.	.	PUNCT
fsr-3185	91	1	by	by	ADP
fsr-3185	91	2	using	use	VERB
fsr-3185	91	3	an	an	DET
fsr-3185	91	4	asymmetric	asymmetric	ADJ
fsr-3185	91	5	response	response	NOUN
fsr-3185	91	6	model	model	NOUN
fsr-3185	91	7	,	,	PUNCT
fsr-3185	91	8	we	we	PRON
fsr-3185	91	9	isolate	isolate	VERB
fsr-3185	91	10	improvements	improvement	NOUN
fsr-3185	91	11	and	and	CCONJ
fsr-3185	91	12	deteriorations	deterioration	NOUN
fsr-3185	91	13	in	in	ADP
fsr-3185	91	14	sentiment	sentiment	NOUN
fsr-3185	91	15	and	and	CCONJ
fsr-3185	91	16	allow	allow	VERB
fsr-3185	91	17	for	for	ADP
fsr-3185	91	18	interpretations	interpretation	NOUN
fsr-3185	91	19	of	of	ADP
fsr-3185	91	20	how	how	SCONJ
fsr-3185	91	21	changes	change	NOUN
fsr-3185	91	22	in	in	ADP
fsr-3185	91	23	csi	csi	PROPN
fsr-3185	91	24	identify	identify	VERB
fsr-3185	91	25	downside	downside	ADJ
fsr-3185	91	26	risk	risk	NOUN
fsr-3185	91	27	for	for	ADP
fsr-3185	91	28	different	different	ADJ
fsr-3185	91	29	holding	holding	NOUN
fsr-3185	91	30	period	period	NOUN
fsr-3185	91	31	returns	return	NOUN
fsr-3185	91	32	.	.	PUNCT
fsr-3185	92	1	the	the	DET
fsr-3185	92	2	following	follow	VERB
fsr-3185	92	3	long	long	ADJ
fsr-3185	92	4	-	-	PUNCT
fsr-3185	92	5	horizon	horizon	NOUN
fsr-3185	92	6	asymmetric	asymmetric	ADJ
fsr-3185	92	7	response	response	NOUN
fsr-3185	92	8	regression	regression	NOUN
fsr-3185	92	9	model	model	NOUN
fsr-3185	92	10	is	be	AUX
fsr-3185	92	11	estimated	estimate	VERB
fsr-3185	92	12	:	:	PUNCT
fsr-3185	92	13	ri	ri	NOUN
fsr-3185	92	14	,	,	PUNCT
fsr-3185	92	15	t!1	t!1	ADP
fsr-3185	92	16	!	!	PUNCT
fsr-3185	92	17	.	.	PUNCT
fsr-3185	92	18	.	.	PUNCT
fsr-3185	92	19	.	.	PUNCT
fsr-3185	92	20	!	!	PUNCT
fsr-3185	93	1	ri	ri	PROPN
fsr-3185	93	2	,	,	PUNCT
fsr-3185	93	3	t!k	t!k	PROPN
fsr-3185	93	4	"	"	PUNCT
fsr-3185	94	1	#	#	ADP
fsr-3185	94	2	"	"	PUNCT
fsr-3185	94	3	k	k	NOUN
fsr-3185	94	4	#	#	NOUN
fsr-3185	94	5	!	!	PUNCT
fsr-3185	95	1	$	$	SYM
fsr-3185	95	2	&	&	CCONJ
fsr-3185	95	3	"	"	PUNCT
fsr-3185	95	4	k#$csit	k#$csit	PROPN
fsr-3185	95	5	&	&	CCONJ
fsr-3185	95	6	!	!	PUNCT
fsr-3185	96	1	$	$	X
fsr-3185	96	2	!	!	PUNCT
fsr-3185	96	3	"	"	PUNCT
fsr-3185	96	4	k#$csit	k#$csit	PROPN
fsr-3185	96	5	!	!	PUNCT
fsr-3185	96	6	!	!	PUNCT
fsr-3185	97	1	%	%	INTJ
fsr-3185	97	2	t!k	t!k	ADV
fsr-3185	97	3	,	,	PUNCT
fsr-3185	97	4	k	k	PROPN
fsr-3185	97	5	"	"	PUNCT
fsr-3185	97	6	1	1	NUM
fsr-3185	97	7	,	,	PUNCT
fsr-3185	97	8	3	3	NUM
fsr-3185	97	9	,	,	PUNCT
fsr-3185	97	10	6	6	NUM
fsr-3185	97	11	,	,	PUNCT
fsr-3185	97	12	12	12	NUM
fsr-3185	97	13	,	,	PUNCT
fsr-3185	97	14	24	24	NUM
fsr-3185	97	15	,	,	PUNCT
fsr-3185	97	16	"	"	PUNCT
fsr-3185	97	17	2	2	NUM
fsr-3185	97	18	#	#	NOUN
fsr-3185	97	19	where	where	SCONJ
fsr-3185	97	20	$	$	SYM
fsr-3185	97	21	csit	csit	NOUN
fsr-3185	97	22	&	&	CCONJ
fsr-3185	97	23	is	be	AUX
fsr-3185	97	24	the	the	DET
fsr-3185	97	25	negative	negative	ADJ
fsr-3185	97	26	change	change	NOUN
fsr-3185	97	27	in	in	ADP
fsr-3185	97	28	csi	csi	PROPN
fsr-3185	97	29	(	(	PUNCT
fsr-3185	97	30	$	$	SYM
fsr-3185	97	31	csit	csit	NOUN
fsr-3185	97	32	'	'	PUNCT
fsr-3185	97	33	0	0	NUM
fsr-3185	97	34	)	)	PUNCT
fsr-3185	97	35	or	or	CCONJ
fsr-3185	97	36	zero	zero	NUM
fsr-3185	97	37	otherwise	otherwise	ADV
fsr-3185	97	38	,	,	PUNCT
fsr-3185	97	39	and	and	CCONJ
fsr-3185	97	40	$	$	SYM
fsr-3185	97	41	csit	csit	NOUN
fsr-3185	97	42	!	!	PUNCT
fsr-3185	98	1	is	be	AUX
fsr-3185	98	2	the	the	DET
fsr-3185	98	3	positive	positive	ADJ
fsr-3185	98	4	change	change	NOUN
fsr-3185	98	5	in	in	ADP
fsr-3185	98	6	csi	csi	PROPN
fsr-3185	98	7	(	(	PUNCT
fsr-3185	98	8	$	$	SYM
fsr-3185	98	9	csit	csit	NOUN
fsr-3185	98	10	(	(	PUNCT
fsr-3185	98	11	0	0	NUM
fsr-3185	98	12	)	)	PUNCT
fsr-3185	98	13	or	or	CCONJ
fsr-3185	98	14	zero	zero	NUM
fsr-3185	98	15	otherwise.6	otherwise.6	PROPN
fsr-3185	98	16	the	the	DET
fsr-3185	98	17	coefficients	coefficient	NOUN
fsr-3185	98	18	$	$	SYM
fsr-3185	98	19	&	&	CCONJ
fsr-3185	98	20	and	and	CCONJ
fsr-3185	98	21	$	$	SYM
fsr-3185	98	22	!	!	PUNCT
fsr-3185	98	23	indicate	indicate	VERB
fsr-3185	98	24	the	the	DET
fsr-3185	98	25	downsize	downsize	NOUN
fsr-3185	98	26	$	$	SYM
fsr-3185	98	27	and	and	CCONJ
fsr-3185	98	28	upside	upside	ADV
fsr-3185	98	29	$	$	SYM
fsr-3185	98	30	,	,	PUNCT
fsr-3185	98	31	respectively	respectively	ADV
fsr-3185	98	32	.	.	PUNCT
fsr-3185	99	1	if	if	SCONJ
fsr-3185	99	2	stock	stock	NOUN
fsr-3185	99	3	returns	return	NOUN
fsr-3185	99	4	respond	respond	VERB
fsr-3185	99	5	similarly	similarly	ADV
fsr-3185	99	6	to	to	ADP
fsr-3185	99	7	positive	positive	ADJ
fsr-3185	99	8	changes	change	NOUN
fsr-3185	99	9	in	in	ADP
fsr-3185	99	10	consumer	consumer	NOUN
fsr-3185	99	11	sentiment	sentiment	NOUN
fsr-3185	99	12	as	as	SCONJ
fsr-3185	99	13	they	they	PRON
fsr-3185	99	14	do	do	VERB
fsr-3185	99	15	to	to	ADP
fsr-3185	99	16	negative	negative	ADJ
fsr-3185	99	17	changes	change	NOUN
fsr-3185	99	18	in	in	ADP
fsr-3185	99	19	consumer	consumer	NOUN
fsr-3185	99	20	sentiment	sentiment	NOUN
fsr-3185	99	21	,	,	PUNCT
fsr-3185	99	22	$	$	PRON
fsr-3185	99	23	&	&	CCONJ
fsr-3185	99	24	would	would	AUX
fsr-3185	99	25	be	be	AUX
fsr-3185	99	26	equal	equal	ADJ
fsr-3185	99	27	to	to	ADP
fsr-3185	99	28	$	$	SYM
fsr-3185	99	29	!	!	PUNCT
fsr-3185	99	30	.	.	PUNCT
fsr-3185	100	1	however	however	ADV
fsr-3185	100	2	,	,	PUNCT
fsr-3185	100	3	if	if	SCONJ
fsr-3185	100	4	investors	investor	NOUN
fsr-3185	100	5	are	be	AUX
fsr-3185	100	6	averse	averse	ADJ
fsr-3185	100	7	to	to	ADP
fsr-3185	100	8	downside	downside	ADJ
fsr-3185	100	9	risk	risk	NOUN
fsr-3185	100	10	,	,	PUNCT
fsr-3185	100	11	$	$	PRON
fsr-3185	100	12	&	&	CCONJ
fsr-3185	100	13	will	will	AUX
fsr-3185	100	14	be	be	AUX
fsr-3185	100	15	positive	positive	ADJ
fsr-3185	100	16	,	,	PUNCT
fsr-3185	100	17	representing	represent	VERB
fsr-3185	100	18	a	a	DET
fsr-3185	100	19	positive	positive	ADJ
fsr-3185	100	20	risk	risk	NOUN
fsr-3185	100	21	premium	premium	NOUN
fsr-3185	100	22	(	(	PUNCT
fsr-3185	100	23	e.g.	e.g.	ADV
fsr-3185	100	24	,	,	PUNCT
fsr-3185	100	25	the	the	PRON
fsr-3185	100	26	higher	high	ADJ
fsr-3185	100	27	the	the	DET
fsr-3185	100	28	downside	downside	ADJ
fsr-3185	100	29	risk	risk	NOUN
fsr-3185	100	30	,	,	PUNCT
fsr-3185	100	31	the	the	PRON
fsr-3185	100	32	higher	high	ADJ
fsr-3185	100	33	the	the	DET
fsr-3185	100	34	stock	stock	NOUN
fsr-3185	100	35	returns	return	NOUN
fsr-3185	100	36	)	)	PUNCT
fsr-3185	100	37	.	.	PUNCT
fsr-3185	101	1	this	this	DET
fsr-3185	101	2	effect	effect	NOUN
fsr-3185	101	3	is	be	AUX
fsr-3185	101	4	a	a	DET
fsr-3185	101	5	type	type	NOUN
fsr-3185	101	6	of	of	ADP
fsr-3185	101	7	risk	risk	NOUN
fsr-3185	101	8	that	that	SCONJ
fsr-3185	101	9	investors	investor	NOUN
fsr-3185	101	10	tend	tend	VERB
fsr-3185	101	11	to	to	PART
fsr-3185	101	12	be	be	AUX
fsr-3185	101	13	more	more	ADV
fsr-3185	101	14	sensitive	sensitive	ADJ
fsr-3185	101	15	towards	towards	ADP
fsr-3185	101	16	when	when	SCONJ
fsr-3185	101	17	discussing	discuss	VERB
fsr-3185	101	18	the	the	DET
fsr-3185	101	19	potential	potential	NOUN
fsr-3185	101	20	for	for	ADP
fsr-3185	101	21	loss	loss	NOUN
fsr-3185	101	22	in	in	ADP
fsr-3185	101	23	the	the	DET
fsr-3185	101	24	value	value	NOUN
fsr-3185	101	25	of	of	ADP
fsr-3185	101	26	an	an	DET
fsr-3185	101	27	asset	asset	NOUN
fsr-3185	101	28	even	even	ADV
fsr-3185	101	29	though	though	SCONJ
fsr-3185	101	30	many	many	ADJ
fsr-3185	101	31	investors	investor	NOUN
fsr-3185	101	32	may	may	AUX
fsr-3185	101	33	anticipate	anticipate	VERB
fsr-3185	101	34	a	a	DET
fsr-3185	101	35	particular	particular	ADJ
fsr-3185	101	36	asset	asset	NOUN
fsr-3185	101	37	’s	’s	PART
fsr-3185	101	38	value	value	NOUN
fsr-3185	101	39	to	to	PART
fsr-3185	101	40	increase	increase	VERB
fsr-3185	101	41	over	over	ADP
fsr-3185	101	42	a	a	DET
fsr-3185	101	43	long	long	ADJ
fsr-3185	101	44	time	time	NOUN
fsr-3185	101	45	.	.	PUNCT
fsr-3185	102	1	the	the	DET
fsr-3185	102	2	estimates	estimate	NOUN
fsr-3185	102	3	of	of	ADP
fsr-3185	102	4	$	$	SYM
fsr-3185	102	5	!	!	PUNCT
fsr-3185	102	6	will	will	AUX
fsr-3185	102	7	also	also	ADV
fsr-3185	102	8	be	be	AUX
fsr-3185	102	9	smaller	small	ADJ
fsr-3185	102	10	in	in	ADP
fsr-3185	102	11	magnitude	magnitude	NOUN
fsr-3185	102	12	and	and	CCONJ
fsr-3185	102	13	positive	positive	ADJ
fsr-3185	102	14	if	if	SCONJ
fsr-3185	102	15	individuals	individual	NOUN
fsr-3185	102	16	prefer	prefer	VERB
fsr-3185	102	17	upside	upside	ADV
fsr-3185	102	18	potential	potential	NOUN
fsr-3185	102	19	(	(	PUNCT
fsr-3185	102	20	e.g.	e.g.	ADV
fsr-3185	102	21	,	,	PUNCT
fsr-3185	102	22	the	the	PRON
fsr-3185	102	23	higher	high	ADJ
fsr-3185	102	24	the	the	DET
fsr-3185	102	25	upside	upside	ADJ
fsr-3185	102	26	potential	potential	NOUN
fsr-3185	102	27	,	,	PUNCT
fsr-3185	102	28	the	the	PRON
fsr-3185	102	29	lower	low	ADJ
fsr-3185	102	30	the	the	DET
fsr-3185	102	31	stock	stock	NOUN
fsr-3185	102	32	returns	return	NOUN
fsr-3185	102	33	)	)	PUNCT
fsr-3185	102	34	.	.	PUNCT
fsr-3185	103	1	2.2	2.2	NUM
fsr-3185	103	2	.	.	PUNCT
fsr-3185	104	1	data	datum	NOUN
fsr-3185	104	2	description	description	NOUN
fsr-3185	104	3	the	the	DET
fsr-3185	104	4	primary	primary	ADJ
fsr-3185	104	5	sources	source	NOUN
fsr-3185	104	6	of	of	ADP
fsr-3185	104	7	consumer	consumer	NOUN
fsr-3185	104	8	sentiment	sentiment	NOUN
fsr-3185	104	9	data	datum	NOUN
fsr-3185	104	10	in	in	ADP
fsr-3185	104	11	the	the	DET
fsr-3185	104	12	united	united	PROPN
fsr-3185	104	13	states	states	PROPN
fsr-3185	104	14	are	be	AUX
fsr-3185	104	15	the	the	DET
fsr-3185	104	16	university	university	PROPN
fsr-3185	104	17	of	of	ADP
fsr-3185	104	18	michigan	michigan	PROPN
fsr-3185	104	19	’s	’s	PART
fsr-3185	104	20	surveys	survey	NOUN
fsr-3185	104	21	of	of	ADP
fsr-3185	104	22	consumers	consumer	NOUN
fsr-3185	104	23	(	(	PUNCT
fsr-3185	104	24	csi	csi	PROPN
fsr-3185	104	25	)	)	PUNCT
fsr-3185	104	26	and	and	CCONJ
fsr-3185	104	27	the	the	DET
fsr-3185	104	28	conference	conference	NOUN
fsr-3185	104	29	board	board	NOUN
fsr-3185	104	30	’s	’s	PART
fsr-3185	104	31	consumer	consumer	NOUN
fsr-3185	104	32	confidence	confidence	NOUN
fsr-3185	104	33	index	index	NOUN
fsr-3185	104	34	.	.	PUNCT
fsr-3185	105	1	fisher	fisher	PROPN
fsr-3185	105	2	and	and	CCONJ
fsr-3185	105	3	statman	statman	PROPN
fsr-3185	105	4	(	(	PUNCT
fsr-3185	105	5	2003	2003	NUM
fsr-3185	105	6	)	)	PUNCT
fsr-3185	105	7	and	and	CCONJ
fsr-3185	105	8	lemmon	lemmon	PROPN
fsr-3185	105	9	and	and	CCONJ
fsr-3185	105	10	portniaguina	portniaguina	PROPN
fsr-3185	105	11	(	(	PUNCT
fsr-3185	105	12	2006	2006	NUM
fsr-3185	105	13	)	)	PUNCT
fsr-3185	105	14	confirm	confirm	VERB
fsr-3185	105	15	that	that	SCONJ
fsr-3185	105	16	the	the	DET
fsr-3185	105	17	indices	index	NOUN
fsr-3185	105	18	are	be	AUX
fsr-3185	105	19	highly	highly	ADV
fsr-3185	105	20	correlated	correlate	VERB
fsr-3185	105	21	and	and	CCONJ
fsr-3185	105	22	provide	provide	VERB
fsr-3185	105	23	similar	similar	ADJ
fsr-3185	105	24	empirical	empirical	ADJ
fsr-3185	105	25	results	result	NOUN
fsr-3185	105	26	,	,	PUNCT
fsr-3185	105	27	despite	despite	SCONJ
fsr-3185	105	28	survey	survey	NOUN
fsr-3185	105	29	design	design	NOUN
fsr-3185	105	30	differences	difference	NOUN
fsr-3185	105	31	.	.	PUNCT
fsr-3185	106	1	ludvigson	ludvigson	NOUN
fsr-3185	106	2	(	(	PUNCT
fsr-3185	106	3	2004	2004	NUM
fsr-3185	106	4	)	)	PUNCT
fsr-3185	106	5	recognizes	recognize	VERB
fsr-3185	106	6	that	that	SCONJ
fsr-3185	106	7	many	many	ADJ
fsr-3185	106	8	studies	study	NOUN
fsr-3185	106	9	use	use	VERB
fsr-3185	106	10	csi	csi	PROPN
fsr-3185	106	11	.	.	PUNCT
fsr-3185	107	1	studies	study	NOUN
fsr-3185	107	2	that	that	PRON
fsr-3185	107	3	utilize	utilize	VERB
fsr-3185	107	4	csi	csi	PROPN
fsr-3185	107	5	in	in	ADP
fsr-3185	107	6	relation	relation	NOUN
fsr-3185	107	7	to	to	ADP
fsr-3185	107	8	stock	stock	NOUN
fsr-3185	107	9	returns	return	NOUN
fsr-3185	107	10	include	include	VERB
fsr-3185	107	11	fisher	fisher	NOUN
fsr-3185	107	12	and	and	CCONJ
fsr-3185	107	13	statman	statman	NOUN
fsr-3185	107	14	(	(	PUNCT
fsr-3185	107	15	2003	2003	NUM
fsr-3185	107	16	)	)	PUNCT
fsr-3185	107	17	,	,	PUNCT
fsr-3185	107	18	ho	ho	PROPN
fsr-3185	107	19	and	and	CCONJ
fsr-3185	107	20	hung	hung	PROPN
fsr-3185	107	21	(	(	PUNCT
fsr-3185	107	22	2009	2009	NUM
fsr-3185	107	23	)	)	PUNCT
fsr-3185	107	24	,	,	PUNCT
fsr-3185	107	25	lemmon	lemmon	PROPN
fsr-3185	107	26	and	and	CCONJ
fsr-3185	107	27	portniaguina	portniaguina	PROPN
fsr-3185	107	28	(	(	PUNCT
fsr-3185	107	29	2006	2006	NUM
fsr-3185	107	30	)	)	PUNCT
fsr-3185	107	31	,	,	PUNCT
fsr-3185	107	32	and	and	CCONJ
fsr-3185	107	33	schmeling	schmele	VERB
fsr-3185	107	34	(	(	PUNCT
fsr-3185	107	35	2009	2009	NUM
fsr-3185	107	36	)	)	PUNCT
fsr-3185	107	37	.	.	PUNCT
fsr-3185	108	1	in	in	ADP
fsr-3185	108	2	this	this	DET
fsr-3185	108	3	study	study	NOUN
fsr-3185	108	4	,	,	PUNCT
fsr-3185	108	5	we	we	PRON
fsr-3185	108	6	use	use	VERB
fsr-3185	108	7	monthly	monthly	ADJ
fsr-3185	108	8	csi	csi	ADJ
fsr-3185	108	9	data	datum	NOUN
fsr-3185	108	10	from	from	ADP
fsr-3185	108	11	january	january	PROPN
fsr-3185	108	12	1978	1978	NUM
fsr-3185	108	13	to	to	ADP
fsr-3185	108	14	december	december	PROPN
fsr-3185	108	15	2010	2010	NUM
fsr-3185	108	16	,	,	PUNCT
fsr-3185	108	17	encompassing	encompass	VERB
fsr-3185	108	18	more	more	ADJ
fsr-3185	108	19	than	than	ADP
fsr-3185	108	20	30	30	NUM
fsr-3185	108	21	years	year	NOUN
fsr-3185	108	22	of	of	ADP
fsr-3185	108	23	sentiment	sentiment	NOUN
fsr-3185	108	24	observations	observation	NOUN
fsr-3185	108	25	.	.	PUNCT
fsr-3185	109	1	we	we	PRON
fsr-3185	109	2	segment	segment	VERB
fsr-3185	109	3	the	the	DET
fsr-3185	109	4	data	datum	NOUN
fsr-3185	109	5	into	into	ADP
fsr-3185	109	6	the	the	DET
fsr-3185	109	7	widely	widely	ADV
fsr-3185	109	8	cited	cite	VERB
fsr-3185	109	9	composite	composite	ADJ
fsr-3185	109	10	index	index	NOUN
fsr-3185	109	11	as	as	ADV
fsr-3185	109	12	well	well	ADV
fsr-3185	109	13	as	as	ADP
fsr-3185	109	14	indices	index	NOUN
fsr-3185	109	15	for	for	ADP
fsr-3185	109	16	three	three	NUM
fsr-3185	109	17	age	age	NOUN
fsr-3185	109	18	groups	group	NOUN
fsr-3185	109	19	,	,	PUNCT
fsr-3185	109	20	respectively	respectively	ADV
fsr-3185	109	21	:	:	PUNCT
fsr-3185	109	22	persons	person	NOUN
fsr-3185	109	23	18	18	NUM
fsr-3185	109	24	to	to	PART
fsr-3185	109	25	34	34	NUM
fsr-3185	109	26	years	year	NOUN
fsr-3185	109	27	old	old	ADJ
fsr-3185	109	28	;	;	PUNCT
fsr-3185	109	29	persons	person	NOUN
fsr-3185	109	30	35	35	NUM
fsr-3185	109	31	to	to	PART
fsr-3185	109	32	54	54	NUM
fsr-3185	109	33	years	year	NOUN
fsr-3185	109	34	old	old	ADJ
fsr-3185	109	35	;	;	PUNCT
fsr-3185	109	36	and	and	CCONJ
fsr-3185	109	37	persons	person	NOUN
fsr-3185	109	38	55	55	NUM
fsr-3185	109	39	years	year	NOUN
fsr-3185	109	40	old	old	ADJ
fsr-3185	109	41	and	and	CCONJ
fsr-3185	109	42	older	old	ADJ
fsr-3185	109	43	.	.	PUNCT
fsr-3185	110	1	this	this	DET
fsr-3185	110	2	partition	partition	NOUN
fsr-3185	110	3	of	of	ADP
fsr-3185	110	4	age	age	NOUN
fsr-3185	110	5	groups	group	NOUN
fsr-3185	110	6	within	within	ADP
fsr-3185	110	7	the	the	DET
fsr-3185	110	8	csi	csi	PROPN
fsr-3185	110	9	allows	allow	VERB
fsr-3185	110	10	for	for	ADP
fsr-3185	110	11	a	a	DET
fsr-3185	110	12	demographic	demographic	ADJ
fsr-3185	110	13	investigation	investigation	NOUN
fsr-3185	110	14	that	that	PRON
fsr-3185	110	15	has	have	AUX
fsr-3185	110	16	previously	previously	ADV
fsr-3185	110	17	been	be	AUX
fsr-3185	110	18	unexplored	unexplored	ADJ
fsr-3185	110	19	regarding	regard	VERB
fsr-3185	110	20	how	how	SCONJ
fsr-3185	110	21	stock	stock	NOUN
fsr-3185	110	22	markets	market	NOUN
fsr-3185	110	23	can	can	AUX
fsr-3185	110	24	be	be	AUX
fsr-3185	110	25	understood	understand	VERB
fsr-3185	110	26	in	in	ADP
fsr-3185	110	27	relation	relation	NOUN
fsr-3185	110	28	to	to	ADP
fsr-3185	110	29	the	the	DET
fsr-3185	110	30	sentiment	sentiment	NOUN
fsr-3185	110	31	of	of	ADP
fsr-3185	110	32	persons	person	NOUN
fsr-3185	110	33	of	of	ADP
fsr-3185	110	34	different	different	ADJ
fsr-3185	110	35	ages	age	NOUN
fsr-3185	110	36	.	.	PUNCT
fsr-3185	111	1	the	the	DET
fsr-3185	111	2	center	center	NOUN
fsr-3185	111	3	for	for	ADP
fsr-3185	111	4	research	research	NOUN
fsr-3185	111	5	in	in	ADP
fsr-3185	111	6	security	security	NOUN
fsr-3185	111	7	prices	price	NOUN
fsr-3185	111	8	(	(	PUNCT
fsr-3185	111	9	crsp	crsp	NOUN
fsr-3185	111	10	)	)	PUNCT
fsr-3185	111	11	equally	equally	ADV
fsr-3185	111	12	weighted	weight	VERB
fsr-3185	111	13	returns	return	NOUN
fsr-3185	111	14	(	(	PUNCT
fsr-3185	111	15	crsp	crsp	NOUN
fsr-3185	111	16	ew	ew	NOUN
fsr-3185	111	17	)	)	PUNCT
fsr-3185	111	18	and	and	CCONJ
fsr-3185	111	19	crsp	crsp	PROPN
fsr-3185	111	20	value	value	NOUN
fsr-3185	111	21	-	-	PUNCT
fsr-3185	111	22	weighted	weight	VERB
fsr-3185	111	23	returns	return	NOUN
fsr-3185	111	24	(	(	PUNCT
fsr-3185	111	25	crsp	crsp	PROPN
fsr-3185	111	26	vw	vw	NOUN
fsr-3185	111	27	)	)	PUNCT
fsr-3185	111	28	are	be	AUX
fsr-3185	111	29	used	use	VERB
fsr-3185	111	30	to	to	PART
fsr-3185	111	31	capture	capture	VERB
fsr-3185	111	32	the	the	DET
fsr-3185	111	33	overall	overall	ADJ
fsr-3185	111	34	stock	stock	NOUN
fsr-3185	111	35	market	market	NOUN
fsr-3185	111	36	performance	performance	NOUN
fsr-3185	111	37	.	.	PUNCT
fsr-3185	112	1	we	we	PRON
fsr-3185	112	2	use	use	VERB
fsr-3185	112	3	30	30	NUM
fsr-3185	112	4	day	day	NOUN
fsr-3185	112	5	u.s	u.s	PROPN
fsr-3185	112	6	treasury	treasury	PROPN
fsr-3185	112	7	bill	bill	NOUN
fsr-3185	112	8	yields	yield	VERB
fsr-3185	112	9	to	to	ADP
fsr-3185	112	10	49m.a	49m.a	NUM
fsr-3185	112	11	.	.	PUNCT
fsr-3185	113	1	johnson	johnson	PROPN
fsr-3185	113	2	,	,	PUNCT
fsr-3185	113	3	a.	a.	PROPN
fsr-3185	113	4	naka	naka	PROPN
fsr-3185	113	5	/	/	SYM
fsr-3185	113	6	financial	financial	ADJ
fsr-3185	113	7	services	service	NOUN
fsr-3185	113	8	review	review	VERB
fsr-3185	113	9	23	23	NUM
fsr-3185	113	10	(	(	PUNCT
fsr-3185	113	11	2014	2014	NUM
fsr-3185	113	12	)	)	PUNCT
fsr-3185	113	13	45–61	45–61	NUM
fsr-3185	113	14	represent	represent	VERB
fsr-3185	113	15	risk	risk	NOUN
fsr-3185	113	16	-	-	PUNCT
fsr-3185	113	17	free	free	ADJ
fsr-3185	113	18	rates	rate	NOUN
fsr-3185	113	19	to	to	PART
fsr-3185	113	20	estimate	estimate	VERB
fsr-3185	113	21	the	the	DET
fsr-3185	113	22	risk	risk	NOUN
fsr-3185	113	23	free	free	ADJ
fsr-3185	113	24	returns	return	NOUN
fsr-3185	113	25	.	.	PUNCT
fsr-3185	114	1	these	these	DET
fsr-3185	114	2	data	datum	NOUN
fsr-3185	114	3	sets	set	NOUN
fsr-3185	114	4	are	be	AUX
fsr-3185	114	5	obtained	obtain	VERB
fsr-3185	114	6	from	from	ADP
fsr-3185	114	7	wharton	wharton	PROPN
fsr-3185	114	8	research	research	NOUN
fsr-3185	114	9	data	datum	NOUN
fsr-3185	114	10	services	service	NOUN
fsr-3185	114	11	(	(	PUNCT
fsr-3185	114	12	wrds	wrd	NOUN
fsr-3185	114	13	)	)	PUNCT
fsr-3185	114	14	.	.	PUNCT
fsr-3185	115	1	table	table	NOUN
fsr-3185	115	2	1	1	NUM
fsr-3185	115	3	presents	present	VERB
fsr-3185	115	4	the	the	DET
fsr-3185	115	5	summary	summary	NOUN
fsr-3185	115	6	statistics	statistic	NOUN
fsr-3185	115	7	of	of	ADP
fsr-3185	115	8	the	the	DET
fsr-3185	115	9	variables	variable	NOUN
fsr-3185	115	10	used	use	VERB
fsr-3185	115	11	in	in	ADP
fsr-3185	115	12	this	this	DET
fsr-3185	115	13	study	study	NOUN
fsr-3185	115	14	.	.	PUNCT
fsr-3185	116	1	panel	panel	NOUN
fsr-3185	116	2	a	a	DET
fsr-3185	116	3	shows	show	NOUN
fsr-3185	116	4	all	all	PRON
fsr-3185	116	5	of	of	ADP
fsr-3185	116	6	the	the	DET
fsr-3185	116	7	csi	csi	PROPN
fsr-3185	116	8	data	datum	NOUN
fsr-3185	116	9	for	for	ADP
fsr-3185	116	10	the	the	DET
fsr-3185	116	11	composite	composite	ADJ
fsr-3185	116	12	index	index	NOUN
fsr-3185	116	13	as	as	ADV
fsr-3185	116	14	well	well	ADV
fsr-3185	116	15	as	as	ADP
fsr-3185	116	16	for	for	ADP
fsr-3185	116	17	the	the	DET
fsr-3185	116	18	three	three	NUM
fsr-3185	116	19	age	age	NOUN
fsr-3185	116	20	groups	group	NOUN
fsr-3185	116	21	.	.	PUNCT
fsr-3185	117	1	the	the	DET
fsr-3185	117	2	mean	mean	ADJ
fsr-3185	117	3	sentiment	sentiment	NOUN
fsr-3185	117	4	value	value	NOUN
fsr-3185	117	5	for	for	ADP
fsr-3185	117	6	the	the	DET
fsr-3185	117	7	youngest	young	ADJ
fsr-3185	117	8	age	age	NOUN
fsr-3185	117	9	group	group	NOUN
fsr-3185	117	10	,	,	PUNCT
fsr-3185	117	11	18	18	NUM
fsr-3185	117	12	to	to	PART
fsr-3185	117	13	34	34	NUM
fsr-3185	117	14	years	year	NOUN
fsr-3185	117	15	old	old	ADJ
fsr-3185	117	16	,	,	PUNCT
fsr-3185	117	17	is	be	AUX
fsr-3185	117	18	the	the	DET
fsr-3185	117	19	highest	high	ADJ
fsr-3185	117	20	among	among	ADP
fsr-3185	117	21	all	all	DET
fsr-3185	117	22	age	age	NOUN
fsr-3185	117	23	groups	group	NOUN
fsr-3185	117	24	(	(	PUNCT
fsr-3185	117	25	95.169	95.169	NUM
fsr-3185	117	26	)	)	PUNCT
fsr-3185	117	27	and	and	CCONJ
fsr-3185	117	28	the	the	DET
fsr-3185	117	29	mean	mean	ADJ
fsr-3185	117	30	value	value	NOUN
fsr-3185	117	31	for	for	ADP
fsr-3185	117	32	the	the	DET
fsr-3185	117	33	oldest	old	ADJ
fsr-3185	117	34	age	age	NOUN
fsr-3185	117	35	group	group	NOUN
fsr-3185	117	36	,	,	PUNCT
fsr-3185	117	37	persons	person	NOUN
fsr-3185	117	38	55	55	NUM
fsr-3185	117	39	years	year	NOUN
fsr-3185	117	40	old	old	ADJ
fsr-3185	117	41	and	and	CCONJ
fsr-3185	117	42	older	old	ADJ
fsr-3185	117	43	,	,	PUNCT
fsr-3185	117	44	is	be	AUX
fsr-3185	117	45	the	the	DET
fsr-3185	117	46	lowest	low	ADJ
fsr-3185	117	47	among	among	ADP
fsr-3185	117	48	all	all	DET
fsr-3185	117	49	age	age	NOUN
fsr-3185	117	50	groups	group	NOUN
fsr-3185	117	51	(	(	PUNCT
fsr-3185	117	52	78.297	78.297	NUM
fsr-3185	117	53	)	)	PUNCT
fsr-3185	117	54	.	.	PUNCT
fsr-3185	118	1	to	to	PART
fsr-3185	118	2	test	test	VERB
fsr-3185	118	3	whether	whether	SCONJ
fsr-3185	118	4	the	the	DET
fsr-3185	118	5	mean	mean	ADJ
fsr-3185	118	6	sentiment	sentiment	NOUN
fsr-3185	118	7	values	value	VERB
fsr-3185	118	8	across	across	ADP
fsr-3185	118	9	age	age	NOUN
fsr-3185	118	10	groups	group	NOUN
fsr-3185	118	11	are	be	AUX
fsr-3185	118	12	the	the	DET
fsr-3185	118	13	same	same	ADJ
fsr-3185	118	14	,	,	PUNCT
fsr-3185	118	15	we	we	PRON
fsr-3185	118	16	test	test	VERB
fsr-3185	118	17	the	the	DET
fsr-3185	118	18	null	null	ADJ
fsr-3185	118	19	hypothesis	hypothesis	NOUN
fsr-3185	118	20	that	that	PRON
fsr-3185	118	21	csiage	csiage	NOUN
fsr-3185	118	22	group	group	NOUN
fsr-3185	118	23	18–34	18–34	NUM
fsr-3185	118	24	%	%	NOUN
fsr-3185	118	25	csiage	csiage	NOUN
fsr-3185	118	26	group	group	NOUN
fsr-3185	118	27	35–54	35–54	NUM
fsr-3185	118	28	%	%	NOUN
fsr-3185	118	29	csiage	csiage	NOUN
fsr-3185	118	30	group	group	NOUN
fsr-3185	118	31	55	55	NUM
fsr-3185	118	32	and	and	CCONJ
fsr-3185	118	33	older	old	ADJ
fsr-3185	118	34	.	.	PUNCT
fsr-3185	119	1	on	on	ADP
fsr-3185	119	2	the	the	DET
fsr-3185	119	3	other	other	ADJ
fsr-3185	119	4	hand	hand	NOUN
fsr-3185	119	5	,	,	PUNCT
fsr-3185	119	6	the	the	DET
fsr-3185	119	7	alternative	alternative	ADJ
fsr-3185	119	8	hypothesis	hypothesis	NOUN
fsr-3185	119	9	is	be	AUX
fsr-3185	119	10	that	that	SCONJ
fsr-3185	119	11	at	at	ADV
fsr-3185	119	12	least	least	ADJ
fsr-3185	119	13	one	one	NUM
fsr-3185	119	14	of	of	ADP
fsr-3185	119	15	the	the	DET
fsr-3185	119	16	mean	mean	ADJ
fsr-3185	119	17	age	age	NOUN
fsr-3185	119	18	group	group	NOUN
fsr-3185	119	19	sentiment	sentiment	NOUN
fsr-3185	119	20	values	value	NOUN
fsr-3185	119	21	is	be	AUX
fsr-3185	119	22	different	different	ADJ
fsr-3185	119	23	from	from	ADP
fsr-3185	119	24	the	the	DET
fsr-3185	119	25	others	other	NOUN
fsr-3185	119	26	.	.	PUNCT
fsr-3185	120	1	when	when	SCONJ
fsr-3185	120	2	tested	test	VERB
fsr-3185	120	3	,	,	PUNCT
fsr-3185	120	4	we	we	PRON
fsr-3185	120	5	find	find	VERB
fsr-3185	120	6	an	an	DET
fsr-3185	120	7	f	f	NOUN
fsr-3185	120	8	-	-	PUNCT
fsr-3185	120	9	statistic	statistic	NOUN
fsr-3185	120	10	of	of	ADP
fsr-3185	120	11	160.257	160.257	NUM
fsr-3185	120	12	(	(	PUNCT
fsr-3185	120	13	p	p	NOUN
fsr-3185	120	14	%	%	NOUN
fsr-3185	120	15	0.000	0.000	NUM
fsr-3185	120	16	)	)	PUNCT
fsr-3185	120	17	and	and	CCONJ
fsr-3185	120	18	reject	reject	VERB
fsr-3185	120	19	the	the	DET
fsr-3185	120	20	null	null	ADJ
fsr-3185	120	21	hypothesis	hypothesis	NOUN
fsr-3185	120	22	.	.	PUNCT
fsr-3185	121	1	this	this	DET
fsr-3185	121	2	finding	finding	NOUN
fsr-3185	121	3	implies	imply	VERB
fsr-3185	121	4	that	that	SCONJ
fsr-3185	121	5	differences	difference	NOUN
fsr-3185	121	6	exist	exist	VERB
fsr-3185	121	7	in	in	ADP
fsr-3185	121	8	the	the	DET
fsr-3185	121	9	various	various	ADJ
fsr-3185	121	10	age	age	NOUN
fsr-3185	121	11	groups	group	NOUN
fsr-3185	121	12	’	'	PUNCT
fsr-3185	121	13	mean	mean	ADJ
fsr-3185	121	14	sentiment	sentiment	NOUN
fsr-3185	121	15	values	value	NOUN
fsr-3185	121	16	.	.	PUNCT
fsr-3185	122	1	the	the	DET
fsr-3185	122	2	results	result	NOUN
fsr-3185	122	3	suggest	suggest	VERB
fsr-3185	122	4	that	that	SCONJ
fsr-3185	122	5	over	over	ADP
fsr-3185	122	6	the	the	DET
fsr-3185	122	7	sample	sample	NOUN
fsr-3185	122	8	period	period	NOUN
fsr-3185	122	9	,	,	PUNCT
fsr-3185	122	10	younger	young	ADJ
fsr-3185	122	11	consumers	consumer	NOUN
fsr-3185	122	12	tend	tend	VERB
fsr-3185	122	13	to	to	PART
fsr-3185	122	14	be	be	AUX
fsr-3185	122	15	more	more	ADV
fsr-3185	122	16	optimistic	optimistic	ADJ
fsr-3185	122	17	than	than	ADP
fsr-3185	122	18	older	old	ADJ
fsr-3185	122	19	consumers	consumer	NOUN
fsr-3185	122	20	and	and	CCONJ
fsr-3185	122	21	this	this	PRON
fsr-3185	122	22	is	be	AUX
fsr-3185	122	23	consistent	consistent	ADJ
fsr-3185	122	24	with	with	ADP
fsr-3185	122	25	the	the	DET
fsr-3185	122	26	life	life	NOUN
fsr-3185	122	27	cycle	cycle	NOUN
fsr-3185	122	28	investment	investment	NOUN
fsr-3185	122	29	hypothesis	hypothesis	NOUN
fsr-3185	122	30	.	.	PUNCT
fsr-3185	123	1	one	one	NUM
fsr-3185	123	2	behavioral	behavioral	ADJ
fsr-3185	123	3	explanation	explanation	NOUN
fsr-3185	123	4	for	for	ADP
fsr-3185	123	5	this	this	PRON
fsr-3185	123	6	would	would	AUX
fsr-3185	123	7	be	be	AUX
fsr-3185	123	8	that	that	SCONJ
fsr-3185	123	9	younger	young	ADJ
fsr-3185	123	10	individuals	individual	NOUN
fsr-3185	123	11	have	have	VERB
fsr-3185	123	12	more	more	ADJ
fsr-3185	123	13	years	year	NOUN
fsr-3185	123	14	of	of	ADP
fsr-3185	123	15	their	their	PRON
fsr-3185	123	16	life	life	NOUN
fsr-3185	123	17	to	to	PART
fsr-3185	123	18	participate	participate	VERB
fsr-3185	123	19	in	in	ADP
fsr-3185	123	20	the	the	DET
fsr-3185	123	21	labor	labor	NOUN
fsr-3185	123	22	force	force	NOUN
fsr-3185	123	23	and	and	CCONJ
fsr-3185	123	24	earn	earn	VERB
fsr-3185	123	25	money	money	NOUN
fsr-3185	123	26	,	,	PUNCT
fsr-3185	123	27	resulting	result	VERB
fsr-3185	123	28	in	in	ADP
fsr-3185	123	29	hopeful	hopeful	ADJ
fsr-3185	123	30	current	current	ADJ
fsr-3185	123	31	or	or	CCONJ
fsr-3185	123	32	future	future	ADJ
fsr-3185	123	33	saving	saving	NOUN
fsr-3185	123	34	and	and	CCONJ
fsr-3185	123	35	consumption	consumption	NOUN
fsr-3185	123	36	whereas	whereas	SCONJ
fsr-3185	123	37	older	old	ADJ
fsr-3185	123	38	individuals	individual	NOUN
fsr-3185	123	39	have	have	VERB
fsr-3185	123	40	fewer	few	ADJ
fsr-3185	123	41	years	year	NOUN
fsr-3185	123	42	of	of	ADP
fsr-3185	123	43	their	their	PRON
fsr-3185	123	44	life	life	NOUN
fsr-3185	123	45	to	to	PART
fsr-3185	123	46	participate	participate	VERB
fsr-3185	123	47	in	in	ADP
fsr-3185	123	48	the	the	DET
fsr-3185	123	49	labor	labor	NOUN
fsr-3185	123	50	force	force	NOUN
fsr-3185	123	51	.	.	PUNCT
fsr-3185	124	1	at	at	ADP
fsr-3185	124	2	the	the	DET
fsr-3185	124	3	same	same	ADJ
fsr-3185	124	4	time	time	NOUN
fsr-3185	124	5	,	,	PUNCT
fsr-3185	124	6	families	family	NOUN
fsr-3185	124	7	with	with	ADP
fsr-3185	124	8	children	child	NOUN
fsr-3185	124	9	see	see	VERB
fsr-3185	124	10	their	their	PRON
fsr-3185	124	11	children	child	NOUN
fsr-3185	124	12	enter	enter	VERB
fsr-3185	124	13	adulthood	adulthood	NOUN
fsr-3185	124	14	and	and	CCONJ
fsr-3185	124	15	as	as	ADP
fsr-3185	124	16	a	a	DET
fsr-3185	124	17	result	result	NOUN
fsr-3185	124	18	,	,	PUNCT
fsr-3185	124	19	they	they	PRON
fsr-3185	124	20	may	may	AUX
fsr-3185	124	21	not	not	PART
fsr-3185	124	22	foresee	foresee	VERB
fsr-3185	124	23	increased	increase	VERB
fsr-3185	124	24	consumption	consumption	NOUN
fsr-3185	124	25	.	.	PUNCT
fsr-3185	125	1	with	with	ADP
fsr-3185	125	2	respect	respect	NOUN
fsr-3185	125	3	to	to	ADP
fsr-3185	125	4	volatility	volatility	NOUN
fsr-3185	125	5	of	of	ADP
fsr-3185	125	6	the	the	DET
fsr-3185	125	7	csi	csi	ADJ
fsr-3185	125	8	index	index	NOUN
fsr-3185	125	9	for	for	ADP
fsr-3185	125	10	the	the	DET
fsr-3185	125	11	age	age	NOUN
fsr-3185	125	12	groups	group	NOUN
fsr-3185	125	13	,	,	PUNCT
fsr-3185	125	14	the	the	DET
fsr-3185	125	15	35	35	NUM
fsr-3185	125	16	to	to	PART
fsr-3185	125	17	54	54	NUM
fsr-3185	125	18	years	year	NOUN
fsr-3185	125	19	old	old	ADJ
fsr-3185	125	20	age	age	NOUN
fsr-3185	125	21	group	group	NOUN
fsr-3185	125	22	has	have	VERB
fsr-3185	125	23	the	the	DET
fsr-3185	125	24	largest	large	ADJ
fsr-3185	125	25	standard	standard	ADJ
fsr-3185	125	26	deviation	deviation	NOUN
fsr-3185	125	27	(	(	PUNCT
fsr-3185	125	28	14.413	14.413	NUM
fsr-3185	125	29	)	)	PUNCT
fsr-3185	125	30	and	and	CCONJ
fsr-3185	125	31	the	the	DET
fsr-3185	125	32	oldest	old	ADJ
fsr-3185	125	33	age	age	NOUN
fsr-3185	125	34	group	group	NOUN
fsr-3185	125	35	has	have	VERB
fsr-3185	125	36	the	the	DET
fsr-3185	125	37	lowest	low	ADJ
fsr-3185	125	38	volatility	volatility	NOUN
fsr-3185	125	39	(	(	PUNCT
fsr-3185	125	40	11.791	11.791	NUM
fsr-3185	125	41	)	)	PUNCT
fsr-3185	125	42	.	.	PUNCT
fsr-3185	126	1	and	and	CCONJ
fsr-3185	126	2	although	although	SCONJ
fsr-3185	126	3	the	the	DET
fsr-3185	126	4	percentage	percentage	NOUN
fsr-3185	126	5	changes	change	NOUN
fsr-3185	126	6	of	of	ADP
fsr-3185	126	7	csi	csi	PROPN
fsr-3185	126	8	are	be	AUX
fsr-3185	126	9	similar	similar	ADJ
fsr-3185	126	10	across	across	ADP
fsr-3185	126	11	different	different	ADJ
fsr-3185	126	12	groups	group	NOUN
fsr-3185	126	13	and	and	CCONJ
fsr-3185	126	14	close	close	ADJ
fsr-3185	126	15	to	to	ADP
fsr-3185	126	16	zero	zero	NUM
fsr-3185	126	17	on	on	ADP
fsr-3185	126	18	average	average	ADJ
fsr-3185	126	19	,	,	PUNCT
fsr-3185	126	20	there	there	PRON
fsr-3185	126	21	is	be	VERB
fsr-3185	126	22	a	a	DET
fsr-3185	126	23	large	large	ADJ
fsr-3185	126	24	range	range	NOUN
fsr-3185	126	25	between	between	ADP
fsr-3185	126	26	the	the	DET
fsr-3185	126	27	minimum	minimum	NOUN
fsr-3185	126	28	and	and	CCONJ
fsr-3185	126	29	the	the	DET
fsr-3185	126	30	maximum	maximum	NOUN
fsr-3185	126	31	of	of	ADP
fsr-3185	126	32	percentage	percentage	NOUN
fsr-3185	126	33	changes	change	NOUN
fsr-3185	126	34	of	of	ADP
fsr-3185	126	35	csi.7	csi.7	NOUN
fsr-3185	126	36	the	the	DET
fsr-3185	126	37	corresponding	corresponding	ADJ
fsr-3185	126	38	standard	standard	ADJ
fsr-3185	126	39	deviations	deviation	NOUN
fsr-3185	126	40	are	be	AUX
fsr-3185	126	41	relatively	relatively	ADV
fsr-3185	126	42	large	large	ADJ
fsr-3185	126	43	and	and	CCONJ
fsr-3185	126	44	are	be	AUX
fsr-3185	126	45	somewhat	somewhat	ADV
fsr-3185	126	46	similar	similar	ADJ
fsr-3185	126	47	to	to	ADP
fsr-3185	126	48	those	those	PRON
fsr-3185	126	49	for	for	ADP
fsr-3185	126	50	the	the	DET
fsr-3185	126	51	stock	stock	NOUN
fsr-3185	126	52	returns	return	NOUN
fsr-3185	126	53	.	.	PUNCT
fsr-3185	127	1	according	accord	VERB
fsr-3185	127	2	to	to	ADP
fsr-3185	127	3	ando	ando	PROPN
fsr-3185	127	4	and	and	CCONJ
fsr-3185	127	5	modigliani	modigliani	PROPN
fsr-3185	127	6	(	(	PUNCT
fsr-3185	127	7	1963	1963	NUM
fsr-3185	127	8	)	)	PUNCT
fsr-3185	127	9	,	,	PUNCT
fsr-3185	127	10	the	the	DET
fsr-3185	127	11	desire	desire	NOUN
fsr-3185	127	12	or	or	CCONJ
fsr-3185	127	13	propensity	propensity	NOUN
fsr-3185	127	14	to	to	PART
fsr-3185	127	15	consume	consume	VERB
fsr-3185	127	16	and	and	CCONJ
fsr-3185	127	17	invest	invest	VERB
fsr-3185	127	18	is	be	AUX
fsr-3185	127	19	higher	high	ADJ
fsr-3185	127	20	in	in	ADP
fsr-3185	127	21	the	the	DET
fsr-3185	127	22	lives	life	NOUN
fsr-3185	127	23	of	of	ADP
fsr-3185	127	24	younger	young	ADJ
fsr-3185	127	25	people	people	NOUN
fsr-3185	127	26	,	,	PUNCT
fsr-3185	127	27	whereas	whereas	SCONJ
fsr-3185	127	28	middle	middle	ADJ
fsr-3185	127	29	to	to	ADP
fsr-3185	127	30	older	old	ADJ
fsr-3185	127	31	-	-	PUNCT
fsr-3185	127	32	aged	age	VERB
fsr-3185	127	33	individuals	individual	NOUN
fsr-3185	127	34	tends	tend	VERB
fsr-3185	127	35	to	to	PART
fsr-3185	127	36	have	have	VERB
fsr-3185	127	37	higher	high	ADJ
fsr-3185	127	38	incomes	income	NOUN
fsr-3185	127	39	with	with	ADP
fsr-3185	127	40	lower	low	ADJ
fsr-3185	127	41	propensities	propensity	NOUN
fsr-3185	127	42	to	to	PART
fsr-3185	127	43	consume	consume	VERB
fsr-3185	127	44	.	.	PUNCT
fsr-3185	128	1	those	those	PRON
fsr-3185	128	2	in	in	ADP
fsr-3185	128	3	the	the	DET
fsr-3185	128	4	younger	young	ADJ
fsr-3185	128	5	age	age	NOUN
fsr-3185	128	6	group	group	NOUN
fsr-3185	128	7	are	be	AUX
fsr-3185	128	8	more	more	ADV
fsr-3185	128	9	likely	likely	ADJ
fsr-3185	128	10	to	to	PART
fsr-3185	128	11	be	be	AUX
fsr-3185	128	12	in	in	ADP
fsr-3185	128	13	the	the	DET
fsr-3185	128	14	early	early	ADJ
fsr-3185	128	15	professional	professional	ADJ
fsr-3185	128	16	years	year	NOUN
fsr-3185	128	17	of	of	ADP
fsr-3185	128	18	their	their	PRON
fsr-3185	128	19	careers	career	NOUN
fsr-3185	128	20	,	,	PUNCT
fsr-3185	128	21	attempting	attempt	VERB
fsr-3185	128	22	to	to	PART
fsr-3185	128	23	acquire	acquire	VERB
fsr-3185	128	24	more	more	ADJ
fsr-3185	128	25	permanent	permanent	ADJ
fsr-3185	128	26	assets	asset	NOUN
fsr-3185	128	27	,	,	PUNCT
fsr-3185	128	28	possibly	possibly	ADV
fsr-3185	128	29	preparing	prepare	VERB
fsr-3185	128	30	to	to	PART
fsr-3185	128	31	start	start	VERB
fsr-3185	128	32	a	a	DET
fsr-3185	128	33	family	family	NOUN
fsr-3185	128	34	.	.	PUNCT
fsr-3185	129	1	panel	panel	NOUN
fsr-3185	129	2	b	b	PROPN
fsr-3185	129	3	presents	present	VERB
fsr-3185	129	4	the	the	DET
fsr-3185	129	5	excess	excess	ADJ
fsr-3185	129	6	returns	return	NOUN
fsr-3185	129	7	of	of	ADP
fsr-3185	129	8	the	the	DET
fsr-3185	129	9	crsp	crsp	NOUN
fsr-3185	129	10	ew	ew	INTJ
fsr-3185	129	11	and	and	CCONJ
fsr-3185	129	12	crsp	crsp	PROPN
fsr-3185	129	13	vw	vw	PROPN
fsr-3185	129	14	indices	indice	VERB
fsr-3185	129	15	over	over	ADP
fsr-3185	129	16	five	five	NUM
fsr-3185	129	17	horizons	horizon	NOUN
fsr-3185	129	18	.	.	PUNCT
fsr-3185	130	1	for	for	SCONJ
fsr-3185	130	2	both	both	DET
fsr-3185	130	3	indices	index	NOUN
fsr-3185	130	4	,	,	PUNCT
fsr-3185	130	5	as	as	ADP
fsr-3185	130	6	the	the	DET
fsr-3185	130	7	number	number	NOUN
fsr-3185	130	8	of	of	ADP
fsr-3185	130	9	horizons	horizon	NOUN
fsr-3185	130	10	increases	increase	NOUN
fsr-3185	130	11	,	,	PUNCT
fsr-3185	130	12	the	the	DET
fsr-3185	130	13	mean	mean	ADJ
fsr-3185	130	14	returns	return	NOUN
fsr-3185	130	15	increase	increase	VERB
fsr-3185	130	16	as	as	ADV
fsr-3185	130	17	well	well	ADV
fsr-3185	130	18	as	as	ADP
fsr-3185	130	19	the	the	DET
fsr-3185	130	20	sds	sds	PROPN
fsr-3185	130	21	.	.	PUNCT
fsr-3185	130	22	panel	panel	PROPN
fsr-3185	130	23	c	c	PROPN
fsr-3185	130	24	presents	present	VERB
fsr-3185	130	25	the	the	DET
fsr-3185	130	26	returns	return	NOUN
fsr-3185	130	27	data	datum	NOUN
fsr-3185	130	28	for	for	ADP
fsr-3185	130	29	the	the	DET
fsr-3185	130	30	crsp	crsp	PROPN
fsr-3185	130	31	market	market	NOUN
fsr-3185	130	32	capitalization	capitalization	NOUN
fsr-3185	130	33	of	of	ADP
fsr-3185	130	34	10	10	NUM
fsr-3185	130	35	size	size	NOUN
fsr-3185	130	36	-	-	PUNCT
fsr-3185	130	37	sorted	sort	VERB
fsr-3185	130	38	portfolios	portfolio	NOUN
fsr-3185	130	39	.	.	PUNCT
fsr-3185	131	1	a	a	DET
fsr-3185	131	2	brief	brief	ADJ
fsr-3185	131	3	look	look	NOUN
fsr-3185	131	4	at	at	ADP
fsr-3185	131	5	panel	panel	NOUN
fsr-3185	131	6	c	c	PROPN
fsr-3185	131	7	provides	provide	VERB
fsr-3185	131	8	data	datum	NOUN
fsr-3185	131	9	on	on	ADP
fsr-3185	131	10	the	the	DET
fsr-3185	131	11	well	well	ADV
fsr-3185	131	12	-	-	PUNCT
fsr-3185	131	13	documented	document	VERB
fsr-3185	131	14	fact	fact	NOUN
fsr-3185	131	15	that	that	SCONJ
fsr-3185	131	16	small	small	ADJ
fsr-3185	131	17	cap	cap	NOUN
fsr-3185	131	18	stocks	stock	NOUN
fsr-3185	131	19	have	have	AUX
fsr-3185	131	20	higher	high	ADJ
fsr-3185	131	21	returns	return	NOUN
fsr-3185	131	22	than	than	ADP
fsr-3185	131	23	large	large	ADJ
fsr-3185	131	24	cap	cap	NOUN
fsr-3185	131	25	stocks	stock	NOUN
fsr-3185	131	26	but	but	CCONJ
fsr-3185	131	27	are	be	AUX
fsr-3185	131	28	also	also	ADV
fsr-3185	131	29	riskier	risky	ADJ
fsr-3185	131	30	,	,	PUNCT
fsr-3185	131	31	as	as	ADP
fsr-3185	131	32	evident	evident	ADJ
fsr-3185	131	33	by	by	ADP
fsr-3185	131	34	the	the	DET
fsr-3185	131	35	standard	standard	ADJ
fsr-3185	131	36	deviations	deviation	NOUN
fsr-3185	131	37	of	of	ADP
fsr-3185	131	38	the	the	DET
fsr-3185	131	39	two	two	NUM
fsr-3185	131	40	portfolios	portfolio	NOUN
fsr-3185	131	41	.	.	PUNCT
fsr-3185	132	1	the	the	DET
fsr-3185	132	2	mean	mean	ADJ
fsr-3185	132	3	returns	return	NOUN
fsr-3185	132	4	for	for	ADP
fsr-3185	132	5	size	size	NOUN
fsr-3185	132	6	-	-	PUNCT
fsr-3185	132	7	sorted	sort	VERB
fsr-3185	132	8	portfolios	portfolio	NOUN
fsr-3185	132	9	deciles	decile	VERB
fsr-3185	132	10	3	3	NUM
fsr-3185	132	11	through	through	ADP
fsr-3185	132	12	decile	decile	NOUN
fsr-3185	132	13	8	8	NUM
fsr-3185	132	14	appear	appear	VERB
fsr-3185	132	15	the	the	DET
fsr-3185	132	16	same	same	ADJ
fsr-3185	132	17	because	because	SCONJ
fsr-3185	132	18	they	they	PRON
fsr-3185	132	19	represent	represent	VERB
fsr-3185	132	20	the	the	DET
fsr-3185	132	21	mid	mid	ADJ
fsr-3185	132	22	cap	cap	NOUN
fsr-3185	132	23	stock	stock	NOUN
fsr-3185	132	24	segment	segment	NOUN
fsr-3185	132	25	.	.	PUNCT
fsr-3185	133	1	as	as	ADP
fsr-3185	133	2	a	a	DET
fsr-3185	133	3	result	result	NOUN
fsr-3185	133	4	,	,	PUNCT
fsr-3185	133	5	these	these	DET
fsr-3185	133	6	six	six	NUM
fsr-3185	133	7	portfolios	portfolio	NOUN
fsr-3185	133	8	have	have	VERB
fsr-3185	133	9	similar	similar	ADJ
fsr-3185	133	10	risk	risk	NOUN
fsr-3185	133	11	-	-	PUNCT
fsr-3185	133	12	return	return	NOUN
fsr-3185	133	13	characteristics	characteristic	NOUN
fsr-3185	133	14	.	.	PUNCT
fsr-3185	134	1	we	we	PRON
fsr-3185	134	2	use	use	VERB
fsr-3185	134	3	all	all	DET
fsr-3185	134	4	10	10	NUM
fsr-3185	134	5	size	size	NOUN
fsr-3185	134	6	-	-	PUNCT
fsr-3185	134	7	sorted	sort	VERB
fsr-3185	134	8	portfolios	portfolio	NOUN
fsr-3185	134	9	to	to	PART
fsr-3185	134	10	see	see	VERB
fsr-3185	134	11	if	if	SCONJ
fsr-3185	134	12	the	the	DET
fsr-3185	134	13	size	size	NOUN
fsr-3185	134	14	of	of	ADP
fsr-3185	134	15	the	the	DET
fsr-3185	134	16	firm	firm	NOUN
fsr-3185	134	17	matters	matter	VERB
fsr-3185	134	18	in	in	ADP
fsr-3185	134	19	terms	term	NOUN
fsr-3185	134	20	of	of	ADP
fsr-3185	134	21	the	the	DET
fsr-3185	134	22	short	short	ADJ
fsr-3185	134	23	-	-	PUNCT
fsr-3185	134	24	run	run	NOUN
fsr-3185	134	25	or	or	CCONJ
fsr-3185	134	26	long	long	ADV
fsr-3185	134	27	-	-	PUNCT
fsr-3185	134	28	run	run	VERB
fsr-3185	134	29	effects	effect	NOUN
fsr-3185	134	30	of	of	ADP
fsr-3185	134	31	sentiment	sentiment	NOUN
fsr-3185	134	32	.	.	PUNCT
fsr-3185	135	1	akhtar	akhtar	PROPN
fsr-3185	135	2	et	et	PROPN
fsr-3185	135	3	al	al	PROPN
fsr-3185	135	4	.	.	PROPN
fsr-3185	135	5	(	(	PUNCT
fsr-3185	135	6	2011	2011	NUM
fsr-3185	135	7	)	)	PUNCT
fsr-3185	135	8	,	,	PUNCT
fsr-3185	135	9	baker	baker	NOUN
fsr-3185	135	10	and	and	CCONJ
fsr-3185	135	11	wurgler	wurgler	PROPN
fsr-3185	135	12	(	(	PUNCT
fsr-3185	135	13	2006	2006	NUM
fsr-3185	135	14	)	)	PUNCT
fsr-3185	135	15	,	,	PUNCT
fsr-3185	135	16	lemmon	lemmon	PROPN
fsr-3185	135	17	and	and	CCONJ
fsr-3185	135	18	portniaguina	portniaguina	PROPN
fsr-3185	135	19	(	(	PUNCT
fsr-3185	135	20	2006	2006	NUM
fsr-3185	135	21	)	)	PUNCT
fsr-3185	135	22	,	,	PUNCT
fsr-3185	135	23	schmeling	schmele	VERB
fsr-3185	135	24	(	(	PUNCT
fsr-3185	135	25	2009	2009	NUM
fsr-3185	135	26	)	)	PUNCT
fsr-3185	135	27	,	,	PUNCT
fsr-3185	135	28	and	and	CCONJ
fsr-3185	135	29	others	other	NOUN
fsr-3185	135	30	find	find	VERB
fsr-3185	135	31	that	that	SCONJ
fsr-3185	135	32	sentiment	sentiment	NOUN
fsr-3185	135	33	does	do	AUX
fsr-3185	135	34	impact	impact	NOUN
fsr-3185	135	35	firms	firm	NOUN
fsr-3185	135	36	of	of	ADP
fsr-3185	135	37	various	various	ADJ
fsr-3185	135	38	sizes	size	NOUN
fsr-3185	135	39	differently	differently	ADV
fsr-3185	135	40	.	.	PUNCT
fsr-3185	136	1	fig	fig	NOUN
fsr-3185	136	2	.	.	PUNCT
fsr-3185	137	1	1	1	NUM
fsr-3185	137	2	displays	display	VERB
fsr-3185	137	3	the	the	DET
fsr-3185	137	4	time	time	NOUN
fsr-3185	137	5	series	series	PROPN
fsr-3185	137	6	movements	movement	NOUN
fsr-3185	137	7	of	of	ADP
fsr-3185	137	8	csi	csi	PROPN
fsr-3185	137	9	for	for	ADP
fsr-3185	137	10	different	different	ADJ
fsr-3185	137	11	groups	group	NOUN
fsr-3185	137	12	over	over	ADP
fsr-3185	137	13	the	the	DET
fsr-3185	137	14	sample	sample	NOUN
fsr-3185	137	15	period	period	NOUN
fsr-3185	137	16	.	.	PUNCT
fsr-3185	138	1	the	the	DET
fsr-3185	138	2	major	major	ADJ
fsr-3185	138	3	declines	decline	NOUN
fsr-3185	138	4	in	in	ADP
fsr-3185	138	5	csi	csi	PROPN
fsr-3185	138	6	over	over	ADP
fsr-3185	138	7	the	the	DET
fsr-3185	138	8	sample	sample	NOUN
fsr-3185	138	9	period	period	NOUN
fsr-3185	138	10	occur	occur	VERB
fsr-3185	138	11	in	in	ADP
fsr-3185	138	12	the	the	DET
fsr-3185	138	13	late	late	ADJ
fsr-3185	138	14	1970s	1970	NOUN
fsr-3185	138	15	,	,	PUNCT
fsr-3185	138	16	early	early	ADV
fsr-3185	138	17	50	50	NUM
fsr-3185	138	18	m.a	m.a	PROPN
fsr-3185	138	19	.	.	PROPN
fsr-3185	138	20	johnson	johnson	PROPN
fsr-3185	138	21	,	,	PUNCT
fsr-3185	138	22	a.	a.	PROPN
fsr-3185	138	23	naka	naka	PROPN
fsr-3185	138	24	/	/	SYM
fsr-3185	138	25	financial	financial	ADJ
fsr-3185	138	26	services	service	NOUN
fsr-3185	138	27	review	review	VERB
fsr-3185	138	28	23	23	NUM
fsr-3185	138	29	(	(	PUNCT
fsr-3185	138	30	2014	2014	NUM
fsr-3185	138	31	)	)	PUNCT
fsr-3185	138	32	45–61	45–61	NUM
fsr-3185	138	33	1990s	1990	NOUN
fsr-3185	138	34	,	,	PUNCT
fsr-3185	138	35	early	early	ADJ
fsr-3185	138	36	2000s	2000s	NUM
fsr-3185	138	37	,	,	PUNCT
fsr-3185	138	38	and	and	CCONJ
fsr-3185	138	39	in	in	ADP
fsr-3185	138	40	2007	2007	NUM
fsr-3185	138	41	and	and	CCONJ
fsr-3185	138	42	2008	2008	NUM
fsr-3185	138	43	during	during	ADP
fsr-3185	138	44	the	the	DET
fsr-3185	138	45	recent	recent	ADJ
fsr-3185	138	46	financial	financial	ADJ
fsr-3185	138	47	crisis	crisis	NOUN
fsr-3185	138	48	.	.	PUNCT
fsr-3185	139	1	of	of	ADP
fsr-3185	139	2	interestingly	interestingly	ADV
fsr-3185	139	3	to	to	ADP
fsr-3185	139	4	the	the	DET
fsr-3185	139	5	authors	author	NOUN
fsr-3185	139	6	,	,	PUNCT
fsr-3185	139	7	these	these	DET
fsr-3185	139	8	periods	period	NOUN
fsr-3185	139	9	correspond	correspond	VERB
fsr-3185	139	10	closely	closely	ADV
fsr-3185	139	11	with	with	ADP
fsr-3185	139	12	the	the	DET
fsr-3185	139	13	dates	date	NOUN
fsr-3185	139	14	of	of	ADP
fsr-3185	139	15	recessions	recession	NOUN
fsr-3185	139	16	in	in	ADP
fsr-3185	139	17	the	the	DET
fsr-3185	139	18	united	united	PROPN
fsr-3185	139	19	states	states	PROPN
fsr-3185	139	20	as	as	SCONJ
fsr-3185	139	21	defined	define	VERB
fsr-3185	139	22	by	by	ADP
fsr-3185	139	23	the	the	DET
fsr-3185	139	24	national	national	PROPN
fsr-3185	139	25	bureau	bureau	PROPN
fsr-3185	139	26	of	of	ADP
fsr-3185	139	27	economic	economic	ADJ
fsr-3185	139	28	research	research	NOUN
fsr-3185	139	29	(	(	PUNCT
fsr-3185	139	30	nber	nber	PROPN
fsr-3185	139	31	)	)	PUNCT
fsr-3185	139	32	.	.	PUNCT
fsr-3185	140	1	for	for	ADP
fsr-3185	140	2	example	example	NOUN
fsr-3185	140	3	,	,	PUNCT
fsr-3185	140	4	table	table	NOUN
fsr-3185	140	5	1	1	NUM
fsr-3185	140	6	summary	summary	NOUN
fsr-3185	140	7	statistics	statistic	NOUN
fsr-3185	140	8	mean	mean	VERB
fsr-3185	140	9	sd	sd	ADP
fsr-3185	140	10	minimum	minimum	ADJ
fsr-3185	140	11	maximum	maximum	ADJ
fsr-3185	140	12	panel	panel	NOUN
fsr-3185	140	13	a	a	PRON
fsr-3185	140	14	:	:	PUNCT
fsr-3185	140	15	csi	csi	ADJ
fsr-3185	140	16	and	and	CCONJ
fsr-3185	140	17	percent	percent	NOUN
fsr-3185	140	18	changes	change	VERB
fsr-3185	140	19	csi	csi	ADJ
fsr-3185	140	20	composite	composite	ADJ
fsr-3185	140	21	86.120	86.120	NUM
fsr-3185	140	22	13.096	13.096	NUM
fsr-3185	140	23	51.700	51.700	NUM
fsr-3185	140	24	112.000	112.000	NUM
fsr-3185	140	25	csi	csi	ADJ
fsr-3185	140	26	age	age	NOUN
fsr-3185	140	27	group	group	NOUN
fsr-3185	140	28	18–34	18–34	NUM
fsr-3185	140	29	95.169	95.169	NUM
fsr-3185	141	1	13.456	13.456	NUM
fsr-3185	141	2	60.400	60.400	NUM
fsr-3185	141	3	120.000	120.000	NUM
fsr-3185	141	4	csi	csi	PROPN
fsr-3185	141	5	age	age	NOUN
fsr-3185	141	6	group	group	NOUN
fsr-3185	141	7	35–54	35–54	NUM
fsr-3185	141	8	86.409	86.409	NUM
fsr-3185	141	9	14.413	14.413	NUM
fsr-3185	141	10	43.600	43.600	NUM
fsr-3185	141	11	113.300	113.300	NUM
fsr-3185	141	12	csi	csi	PROPN
fsr-3185	141	13	age	age	NOUN
fsr-3185	141	14	group	group	NOUN
fsr-3185	141	15	55	55	NUM
fsr-3185	141	16	and	and	CCONJ
fsr-3185	141	17	older	old	ADJ
fsr-3185	141	18	78.297	78.297	NUM
fsr-3185	141	19	11.791	11.791	NUM
fsr-3185	141	20	43.400	43.400	NUM
fsr-3185	141	21	105.300	105.300	NUM
fsr-3185	141	22	$	$	SYM
fsr-3185	141	23	csicomposite	csicomposite	NOUN
fsr-3185	141	24	0.001	0.001	NUM
fsr-3185	141	25	0.050	0.050	NUM
fsr-3185	141	26	&	&	CCONJ
fsr-3185	141	27	0.181	0.181	NUM
fsr-3185	141	28	0.246	0.246	NUM
fsr-3185	141	29	$	$	SYM
fsr-3185	141	30	csi18–34	csi18–34	NOUN
fsr-3185	141	31	age	age	NOUN
fsr-3185	141	32	group	group	NOUN
fsr-3185	141	33	0.002	0.002	NUM
fsr-3185	141	34	0.061	0.061	NUM
fsr-3185	141	35	&	&	CCONJ
fsr-3185	141	36	0.174	0.174	NUM
fsr-3185	141	37	0.287	0.287	NUM
fsr-3185	141	38	$	$	SYM
fsr-3185	141	39	csi35–54	csi35–54	PART
fsr-3185	141	40	age	age	NOUN
fsr-3185	141	41	group	group	NOUN
fsr-3185	141	42	0.002	0.002	NUM
fsr-3185	141	43	0.066	0.066	NUM
fsr-3185	141	44	&	&	CCONJ
fsr-3185	141	45	0.231	0.231	NUM
fsr-3185	141	46	0.241	0.241	NUM
fsr-3185	141	47	$	$	SYM
fsr-3185	141	48	csi55	csi55	PROPN
fsr-3185	141	49	and	and	CCONJ
fsr-3185	141	50	older	old	ADJ
fsr-3185	141	51	age	age	NOUN
fsr-3185	141	52	group	group	NOUN
fsr-3185	141	53	0.002	0.002	NUM
fsr-3185	141	54	0.069	0.069	NUM
fsr-3185	141	55	&	&	CCONJ
fsr-3185	141	56	0.196	0.196	NUM
fsr-3185	141	57	0.339	0.339	NUM
fsr-3185	141	58	$	$	SYM
fsr-3185	141	59	csicomposite	csicomposite	NOUN
fsr-3185	141	60	'	'	PUNCT
fsr-3185	141	61	0	0	NUM
fsr-3185	141	62	&	&	CCONJ
fsr-3185	141	63	0.018	0.018	NUM
fsr-3185	141	64	0.029	0.029	NUM
fsr-3185	141	65	&	&	CCONJ
fsr-3185	141	66	0.181	0.181	NUM
fsr-3185	141	67	0.000	0.000	NUM
fsr-3185	141	68	$	$	SYM
fsr-3185	141	69	csicomposite	csicomposite	NOUN
fsr-3185	141	70	(	(	PUNCT
fsr-3185	141	71	0	0	NUM
fsr-3185	141	72	0.019	0.019	NUM
fsr-3185	141	73	0.031	0.031	NUM
fsr-3185	141	74	0.000	0.000	NUM
fsr-3185	141	75	0.246	0.246	NUM
fsr-3185	141	76	$	$	SYM
fsr-3185	141	77	csi18–34	csi18–34	NOUN
fsr-3185	141	78	age	age	NOUN
fsr-3185	141	79	group	group	NOUN
fsr-3185	141	80	'	'	PART
fsr-3185	141	81	0	0	NUM
fsr-3185	141	82	&	&	CCONJ
fsr-3185	141	83	0.022	0.022	NUM
fsr-3185	141	84	0.033	0.033	NUM
fsr-3185	141	85	&	&	CCONJ
fsr-3185	141	86	0.174	0.174	NUM
fsr-3185	141	87	0.000	0.000	NUM
fsr-3185	141	88	$	$	SYM
fsr-3185	141	89	csi18–34	csi18–34	NOUN
fsr-3185	141	90	age	age	NOUN
fsr-3185	141	91	group	group	NOUN
fsr-3185	141	92	(	(	PUNCT
fsr-3185	141	93	0	0	NUM
fsr-3185	141	94	0.023	0.023	NUM
fsr-3185	141	95	0.040	0.040	NUM
fsr-3185	141	96	0.000	0.000	NUM
fsr-3185	141	97	0.287	0.287	NUM
fsr-3185	141	98	$	$	SYM
fsr-3185	141	99	csi35–54	csi35–54	PART
fsr-3185	141	100	age	age	NOUN
fsr-3185	141	101	group	group	NOUN
fsr-3185	141	102	'	'	PART
fsr-3185	141	103	0	0	NUM
fsr-3185	141	104	&	&	CCONJ
fsr-3185	141	105	0.024	0.024	NUM
fsr-3185	141	106	0.037	0.037	NUM
fsr-3185	141	107	&	&	CCONJ
fsr-3185	141	108	0.231	0.231	NUM
fsr-3185	141	109	0.000	0.000	NUM
fsr-3185	141	110	$	$	SYM
fsr-3185	141	111	csi35–54	csi35–54	PART
fsr-3185	141	112	age	age	NOUN
fsr-3185	141	113	group	group	NOUN
fsr-3185	141	114	(	(	PUNCT
fsr-3185	141	115	0	0	NUM
fsr-3185	141	116	0.026	0.026	NUM
fsr-3185	141	117	0.042	0.042	NUM
fsr-3185	141	118	0.000	0.000	NUM
fsr-3185	141	119	0.294	0.294	NUM
fsr-3185	141	120	$	$	SYM
fsr-3185	141	121	csi55	csi55	PROPN
fsr-3185	141	122	and	and	CCONJ
fsr-3185	141	123	older	old	ADJ
fsr-3185	141	124	age	age	NOUN
fsr-3185	141	125	group	group	NOUN
fsr-3185	141	126	'	'	PART
fsr-3185	141	127	0	0	NUM
fsr-3185	141	128	&	&	CCONJ
fsr-3185	141	129	0.025	0.025	NUM
fsr-3185	141	130	0.039	0.039	NUM
fsr-3185	141	131	&	&	CCONJ
fsr-3185	141	132	0.196	0.196	NUM
fsr-3185	141	133	0.000	0.000	NUM
fsr-3185	141	134	$	$	SYM
fsr-3185	141	135	csi55	csi55	PROPN
fsr-3185	141	136	and	and	CCONJ
fsr-3185	141	137	older	old	ADJ
fsr-3185	141	138	age	age	NOUN
fsr-3185	141	139	group	group	NOUN
fsr-3185	141	140	(	(	PUNCT
fsr-3185	141	141	0	0	NUM
fsr-3185	141	142	0.027	0.027	NUM
fsr-3185	141	143	0.043	0.043	NUM
fsr-3185	141	144	0.000	0.000	NUM
fsr-3185	141	145	0.339	0.339	NUM
fsr-3185	141	146	panel	panel	NOUN
fsr-3185	141	147	b	b	NOUN
fsr-3185	141	148	:	:	PUNCT
fsr-3185	141	149	stock	stock	NOUN
fsr-3185	141	150	index	index	NOUN
fsr-3185	141	151	returns	return	NOUN
fsr-3185	141	152	for	for	ADP
fsr-3185	141	153	different	different	ADJ
fsr-3185	141	154	horizons	horizon	NOUN
fsr-3185	141	155	crsp	crsp	PROPN
fsr-3185	141	156	ew	ew	PROPN
fsr-3185	141	157	index	index	NOUN
fsr-3185	141	158	returns	return	NOUN
fsr-3185	141	159	k	k	NOUN
fsr-3185	141	160	%	%	NOUN
fsr-3185	141	161	1	1	NUM
fsr-3185	141	162	0.011	0.011	NUM
fsr-3185	141	163	0.056	0.056	NUM
fsr-3185	141	164	&	&	CCONJ
fsr-3185	141	165	0.273	0.273	NUM
fsr-3185	141	166	0.224	0.224	NUM
fsr-3185	141	167	k	k	SYM
fsr-3185	141	168	%	%	NOUN
fsr-3185	141	169	3	3	NUM
fsr-3185	141	170	0.033	0.033	NUM
fsr-3185	141	171	0.111	0.111	NUM
fsr-3185	141	172	&	&	CCONJ
fsr-3185	141	173	0.470	0.470	NUM
fsr-3185	141	174	0.417	0.417	NUM
fsr-3185	141	175	k	k	NOUN
fsr-3185	141	176	%	%	NOUN
fsr-3185	141	177	6	6	NUM
fsr-3185	141	178	0.065	0.065	NUM
fsr-3185	141	179	0.158	0.158	NUM
fsr-3185	141	180	&	&	CCONJ
fsr-3185	141	181	0.565	0.565	NUM
fsr-3185	141	182	0.588	0.588	NUM
fsr-3185	141	183	k	k	NOUN
fsr-3185	141	184	%	%	NOUN
fsr-3185	141	185	12	12	NUM
fsr-3185	141	186	0.128	0.128	NUM
fsr-3185	141	187	0.212	0.212	NUM
fsr-3185	141	188	&	&	CCONJ
fsr-3185	141	189	0.613	0.613	NUM
fsr-3185	141	190	0.736	0.736	NUM
fsr-3185	141	191	k	k	NOUN
fsr-3185	141	192	%	%	NOUN
fsr-3185	141	193	24	24	NUM
fsr-3185	141	194	0.245	0.245	NUM
fsr-3185	141	195	0.242	0.242	NUM
fsr-3185	141	196	&	&	CCONJ
fsr-3185	141	197	0.751	0.751	NUM
fsr-3185	141	198	0.796	0.796	NUM
fsr-3185	141	199	crsp	crsp	PROPN
fsr-3185	141	200	vw	vw	PROPN
fsr-3185	141	201	index	index	NOUN
fsr-3185	141	202	returns	return	VERB
fsr-3185	141	203	k	k	NOUN
fsr-3185	141	204	%	%	NOUN
fsr-3185	141	205	1	1	NUM
fsr-3185	141	206	0.008	0.008	NUM
fsr-3185	141	207	0.046	0.046	NUM
fsr-3185	141	208	&	&	CCONJ
fsr-3185	141	209	0.227	0.227	NUM
fsr-3185	141	210	0.127	0.127	NUM
fsr-3185	141	211	k	k	NOUN
fsr-3185	141	212	%	%	NOUN
fsr-3185	141	213	3	3	NUM
fsr-3185	141	214	0.024	0.024	NUM
fsr-3185	141	215	0.083	0.083	NUM
fsr-3185	141	216	&	&	CCONJ
fsr-3185	141	217	0.374	0.374	NUM
fsr-3185	141	218	0.258	0.258	NUM
fsr-3185	141	219	k	k	NOUN
fsr-3185	141	220	%	%	NOUN
fsr-3185	141	221	6	6	NUM
fsr-3185	141	222	0.046	0.046	NUM
fsr-3185	141	223	0.118	0.118	NUM
fsr-3185	141	224	&	&	CCONJ
fsr-3185	141	225	0.539	0.539	NUM
fsr-3185	141	226	0.364	0.364	NUM
fsr-3185	141	227	k	k	PRON
fsr-3185	141	228	%	%	NOUN
fsr-3185	141	229	12	12	NUM
fsr-3185	141	230	0.092	0.092	NUM
fsr-3185	141	231	0.168	0.168	NUM
fsr-3185	141	232	&	&	CCONJ
fsr-3185	141	233	0.565	0.565	NUM
fsr-3185	141	234	0.485	0.485	NUM
fsr-3185	141	235	k	k	NUM
fsr-3185	141	236	%	%	NOUN
fsr-3185	141	237	24	24	NUM
fsr-3185	141	238	0.179	0.179	NUM
fsr-3185	141	239	0.222	0.222	NUM
fsr-3185	141	240	&	&	CCONJ
fsr-3185	141	241	0.599	0.599	NUM
fsr-3185	141	242	0.542	0.542	NUM
fsr-3185	141	243	risk	risk	NOUN
fsr-3185	141	244	-	-	PUNCT
fsr-3185	141	245	free	free	ADJ
fsr-3185	141	246	rate	rate	NOUN
fsr-3185	141	247	(	(	PUNCT
fsr-3185	141	248	30	30	NUM
fsr-3185	141	249	day	day	NOUN
fsr-3185	141	250	t	t	NOUN
fsr-3185	141	251	-	-	PUNCT
fsr-3185	141	252	bill	bill	NOUN
fsr-3185	141	253	)	)	PUNCT
fsr-3185	141	254	0.004	0.004	NUM
fsr-3185	141	255	0.003	0.003	NUM
fsr-3185	141	256	0.000	0.000	NUM
fsr-3185	141	257	0.014	0.014	NUM
fsr-3185	141	258	panel	panel	NOUN
fsr-3185	141	259	c	c	NOUN
fsr-3185	141	260	:	:	PUNCT
fsr-3185	141	261	returns	return	NOUN
fsr-3185	141	262	of	of	ADP
fsr-3185	141	263	equity	equity	NOUN
fsr-3185	141	264	size	size	NOUN
fsr-3185	141	265	portfolios	portfolio	NOUN
fsr-3185	141	266	capitalization	capitalization	NOUN
fsr-3185	141	267	decile	decile	NOUN
fsr-3185	141	268	1	1	NUM
fsr-3185	141	269	0.014	0.014	NUM
fsr-3185	141	270	0.064	0.064	NUM
fsr-3185	141	271	&	&	CCONJ
fsr-3185	141	272	0.277	0.277	NUM
fsr-3185	141	273	0.329	0.329	NUM
fsr-3185	141	274	capitalization	capitalization	NOUN
fsr-3185	141	275	decile	decile	NOUN
fsr-3185	141	276	2	2	NUM
fsr-3185	141	277	0.011	0.011	NUM
fsr-3185	141	278	0.065	0.065	NUM
fsr-3185	141	279	&	&	CCONJ
fsr-3185	141	280	0.303	0.303	NUM
fsr-3185	141	281	0.285	0.285	NUM
fsr-3185	141	282	capitalization	capitalization	NOUN
fsr-3185	141	283	decile	decile	NOUN
fsr-3185	141	284	3	3	NUM
fsr-3185	141	285	0.012	0.012	NUM
fsr-3185	141	286	0.063	0.063	NUM
fsr-3185	141	287	&	&	CCONJ
fsr-3185	141	288	0.289	0.289	NUM
fsr-3185	141	289	0.261	0.261	NUM
fsr-3185	141	290	capitalization	capitalization	NOUN
fsr-3185	141	291	decile	decile	NOUN
fsr-3185	141	292	4	4	NUM
fsr-3185	141	293	0.012	0.012	NUM
fsr-3185	141	294	0.061	0.061	NUM
fsr-3185	141	295	&	&	CCONJ
fsr-3185	141	296	0.294	0.294	NUM
fsr-3185	141	297	0.226	0.226	NUM
fsr-3185	141	298	capitalization	capitalization	NOUN
fsr-3185	141	299	decile	decile	NOUN
fsr-3185	141	300	5	5	NUM
fsr-3185	141	301	0.012	0.012	NUM
fsr-3185	141	302	0.061	0.061	NUM
fsr-3185	141	303	&	&	CCONJ
fsr-3185	141	304	0.281	0.281	NUM
fsr-3185	141	305	0.255	0.255	NUM
fsr-3185	141	306	capitalization	capitalization	NOUN
fsr-3185	141	307	decile	decile	NOUN
fsr-3185	141	308	6	6	NUM
fsr-3185	141	309	0.012	0.012	NUM
fsr-3185	141	310	0.056	0.056	NUM
fsr-3185	141	311	&	&	CCONJ
fsr-3185	141	312	0.259	0.259	NUM
fsr-3185	141	313	0.222	0.222	NUM
fsr-3185	141	314	capitalization	capitalization	NOUN
fsr-3185	141	315	decile	decile	NOUN
fsr-3185	141	316	7	7	NUM
fsr-3185	141	317	0.012	0.012	NUM
fsr-3185	141	318	0.055	0.055	NUM
fsr-3185	141	319	&	&	CCONJ
fsr-3185	141	320	0.259	0.259	NUM
fsr-3185	141	321	0.224	0.224	NUM
fsr-3185	141	322	capitalization	capitalization	NOUN
fsr-3185	141	323	decile	decile	NOUN
fsr-3185	141	324	8	8	NUM
fsr-3185	141	325	0.012	0.012	NUM
fsr-3185	141	326	0.054	0.054	NUM
fsr-3185	141	327	&	&	CCONJ
fsr-3185	141	328	0.241	0.241	NUM
fsr-3185	141	329	0.188	0.188	NUM
fsr-3185	141	330	capitalization	capitalization	NOUN
fsr-3185	141	331	decile	decile	NOUN
fsr-3185	141	332	9	9	NUM
fsr-3185	141	333	0.011	0.011	NUM
fsr-3185	141	334	0.051	0.051	NUM
fsr-3185	141	335	&	&	CCONJ
fsr-3185	141	336	0.225	0.225	NUM
fsr-3185	141	337	0.225	0.225	NUM
fsr-3185	141	338	capitalization	capitalization	NOUN
fsr-3185	141	339	decile	decile	NOUN
fsr-3185	141	340	10	10	NUM
fsr-3185	141	341	0.010	0.010	NUM
fsr-3185	141	342	0.048	0.048	NUM
fsr-3185	141	343	&	&	CCONJ
fsr-3185	141	344	0.204	0.204	NUM
fsr-3185	141	345	0.136	0.136	NUM
fsr-3185	141	346	note	note	NOUN
fsr-3185	141	347	.	.	PUNCT
fsr-3185	142	1	all	all	DET
fsr-3185	142	2	data	datum	NOUN
fsr-3185	142	3	is	be	AUX
fsr-3185	142	4	monthly	monthly	ADJ
fsr-3185	142	5	and	and	CCONJ
fsr-3185	142	6	is	be	AUX
fsr-3185	142	7	from	from	ADP
fsr-3185	142	8	january	january	PROPN
fsr-3185	142	9	1978	1978	NUM
fsr-3185	142	10	until	until	ADP
fsr-3185	142	11	december	december	PROPN
fsr-3185	142	12	2010	2010	NUM
fsr-3185	142	13	.	.	PUNCT
fsr-3185	143	1	panel	panel	NOUN
fsr-3185	143	2	a	a	DET
fsr-3185	143	3	consumer	consumer	NOUN
fsr-3185	143	4	sentiment	sentiment	NOUN
fsr-3185	143	5	data	datum	NOUN
fsr-3185	143	6	was	be	AUX
fsr-3185	143	7	obtained	obtain	VERB
fsr-3185	143	8	from	from	ADP
fsr-3185	143	9	the	the	DET
fsr-3185	143	10	university	university	PROPN
fsr-3185	143	11	of	of	ADP
fsr-3185	143	12	michigan	michigan	PROPN
fsr-3185	143	13	surveys	survey	NOUN
fsr-3185	143	14	of	of	ADP
fsr-3185	143	15	consumers	consumer	NOUN
fsr-3185	143	16	(	(	PUNCT
fsr-3185	143	17	http://www.sca.isr.umich.edu	http://www.sca.isr.umich.edu	NUM
fsr-3185	143	18	)	)	PUNCT
fsr-3185	143	19	.	.	PUNCT
fsr-3185	144	1	panel	panel	NOUN
fsr-3185	144	2	b	b	PROPN
fsr-3185	144	3	and	and	CCONJ
fsr-3185	144	4	panel	panel	NOUN
fsr-3185	144	5	c	c	PROPN
fsr-3185	144	6	stock	stock	NOUN
fsr-3185	144	7	index	index	NOUN
fsr-3185	144	8	returns	return	NOUN
fsr-3185	144	9	and	and	CCONJ
fsr-3185	144	10	equity	equity	NOUN
fsr-3185	144	11	size	size	NOUN
fsr-3185	144	12	-	-	PUNCT
fsr-3185	144	13	sorted	sort	VERB
fsr-3185	144	14	portfolio	portfolio	NOUN
fsr-3185	144	15	returns	return	NOUN
fsr-3185	144	16	data	datum	NOUN
fsr-3185	144	17	were	be	AUX
fsr-3185	144	18	obtained	obtain	VERB
fsr-3185	144	19	from	from	ADP
fsr-3185	144	20	center	center	NOUN
fsr-3185	144	21	for	for	ADP
fsr-3185	144	22	research	research	NOUN
fsr-3185	144	23	in	in	ADP
fsr-3185	144	24	security	security	NOUN
fsr-3185	144	25	prices	price	NOUN
fsr-3185	144	26	(	(	PUNCT
fsr-3185	144	27	crsp	crsp	NOUN
fsr-3185	144	28	)	)	PUNCT
fsr-3185	144	29	.	.	PUNCT
fsr-3185	145	1	k	k	PROPN
fsr-3185	145	2	stands	stand	VERB
fsr-3185	145	3	for	for	ADP
fsr-3185	145	4	monthly	monthly	ADJ
fsr-3185	145	5	cumulated	cumulated	ADJ
fsr-3185	145	6	k	k	PROPN
fsr-3185	145	7	horizon	horizon	NOUN
fsr-3185	145	8	returns	return	NOUN
fsr-3185	145	9	.	.	PUNCT
fsr-3185	146	1	51m.a	51m.a	X
fsr-3185	146	2	.	.	X
fsr-3185	146	3	johnson	johnson	PROPN
fsr-3185	146	4	,	,	PUNCT
fsr-3185	146	5	a.	a.	PROPN
fsr-3185	146	6	naka	naka	PROPN
fsr-3185	146	7	/	/	SYM
fsr-3185	146	8	financial	financial	ADJ
fsr-3185	146	9	services	service	NOUN
fsr-3185	146	10	review	review	VERB
fsr-3185	146	11	23	23	NUM
fsr-3185	146	12	(	(	PUNCT
fsr-3185	146	13	2014	2014	NUM
fsr-3185	146	14	)	)	PUNCT
fsr-3185	147	1	45–61	45–61	NUM
fsr-3185	147	2	recessionary	recessionary	ADJ
fsr-3185	147	3	periods	period	NOUN
fsr-3185	147	4	in	in	ADP
fsr-3185	147	5	the	the	DET
fsr-3185	147	6	united	united	PROPN
fsr-3185	147	7	states	states	PROPN
fsr-3185	147	8	occurred	occur	VERB
fsr-3185	147	9	from	from	ADP
fsr-3185	147	10	july	july	PROPN
fsr-3185	147	11	1990	1990	NUM
fsr-3185	147	12	until	until	ADP
fsr-3185	147	13	march	march	PROPN
fsr-3185	147	14	1991	1991	NUM
fsr-3185	147	15	,	,	PUNCT
fsr-3185	147	16	march	march	PROPN
fsr-3185	147	17	2001	2001	NUM
fsr-3185	147	18	until	until	ADP
fsr-3185	147	19	november	november	PROPN
fsr-3185	147	20	2001	2001	NUM
fsr-3185	147	21	,	,	PUNCT
fsr-3185	147	22	and	and	CCONJ
fsr-3185	147	23	december	december	PROPN
fsr-3185	147	24	2007	2007	NUM
fsr-3185	147	25	until	until	ADP
fsr-3185	147	26	june	june	PROPN
fsr-3185	147	27	2009.8	2009.8	NUM
fsr-3185	147	28	the	the	DET
fsr-3185	147	29	most	most	ADV
fsr-3185	147	30	recent	recent	ADJ
fsr-3185	147	31	decline	decline	NOUN
fsr-3185	147	32	in	in	ADP
fsr-3185	147	33	csi	csi	ADJ
fsr-3185	147	34	corresponds	correspond	NOUN
fsr-3185	147	35	with	with	ADP
fsr-3185	147	36	the	the	DET
fsr-3185	147	37	widely	widely	ADV
fsr-3185	147	38	regarded	regarded	ADJ
fsr-3185	147	39	“	"	PUNCT
fsr-3185	147	40	great	great	ADJ
fsr-3185	147	41	recession	recession	NOUN
fsr-3185	147	42	,	,	PUNCT
fsr-3185	147	43	”	"	PUNCT
fsr-3185	147	44	which	which	PRON
fsr-3185	147	45	was	be	AUX
fsr-3185	147	46	sparked	spark	VERB
fsr-3185	147	47	by	by	ADP
fsr-3185	147	48	the	the	DET
fsr-3185	147	49	abrupt	abrupt	ADJ
fsr-3185	147	50	contraction	contraction	NOUN
fsr-3185	147	51	in	in	ADP
fsr-3185	147	52	home	home	NOUN
fsr-3185	147	53	prices	price	NOUN
fsr-3185	147	54	and	and	CCONJ
fsr-3185	147	55	spike	spike	NOUN
fsr-3185	147	56	in	in	ADP
fsr-3185	147	57	home	home	NOUN
fsr-3185	147	58	foreclosures	foreclosure	NOUN
fsr-3185	147	59	because	because	SCONJ
fsr-3185	147	60	of	of	ADP
fsr-3185	147	61	the	the	DET
fsr-3185	147	62	subprime	subprime	ADJ
fsr-3185	147	63	crisis	crisis	NOUN
fsr-3185	147	64	and	and	CCONJ
fsr-3185	147	65	other	other	ADJ
fsr-3185	147	66	banking	banking	NOUN
fsr-3185	147	67	problems	problem	NOUN
fsr-3185	147	68	.	.	PUNCT
fsr-3185	148	1	the	the	DET
fsr-3185	148	2	financial	financial	ADJ
fsr-3185	148	3	crisis	crisis	NOUN
fsr-3185	148	4	ultimately	ultimately	ADV
fsr-3185	148	5	resulted	result	VERB
fsr-3185	148	6	in	in	ADP
fsr-3185	148	7	the	the	DET
fsr-3185	148	8	sharp	sharp	ADJ
fsr-3185	148	9	increase	increase	NOUN
fsr-3185	148	10	in	in	ADP
fsr-3185	148	11	the	the	DET
fsr-3185	148	12	unemployment	unemployment	NOUN
fsr-3185	148	13	rate	rate	NOUN
fsr-3185	148	14	and	and	CCONJ
fsr-3185	148	15	a	a	DET
fsr-3185	148	16	rise	rise	NOUN
fsr-3185	148	17	in	in	ADP
fsr-3185	148	18	the	the	DET
fsr-3185	148	19	number	number	NOUN
fsr-3185	148	20	of	of	ADP
fsr-3185	148	21	nonperforming	nonperforme	VERB
fsr-3185	148	22	loans	loan	NOUN
fsr-3185	148	23	on	on	ADP
fsr-3185	148	24	the	the	DET
fsr-3185	148	25	balance	balance	NOUN
fsr-3185	148	26	sheets	sheet	NOUN
fsr-3185	148	27	of	of	ADP
fsr-3185	148	28	financial	financial	ADJ
fsr-3185	148	29	institutions	institution	NOUN
fsr-3185	148	30	among	among	ADP
fsr-3185	148	31	other	other	ADJ
fsr-3185	148	32	sudden	sudden	ADJ
fsr-3185	148	33	negative	negative	ADJ
fsr-3185	148	34	economic	economic	ADJ
fsr-3185	148	35	conditions	condition	NOUN
fsr-3185	148	36	.	.	PUNCT
fsr-3185	149	1	consistent	consistent	ADJ
fsr-3185	149	2	with	with	ADP
fsr-3185	149	3	panel	panel	NOUN
fsr-3185	149	4	a	a	PRON
fsr-3185	149	5	of	of	ADP
fsr-3185	149	6	table	table	NOUN
fsr-3185	149	7	1	1	NUM
fsr-3185	149	8	,	,	PUNCT
fsr-3185	149	9	fig	fig	NOUN
fsr-3185	149	10	.	.	PUNCT
fsr-3185	149	11	1	1	NUM
fsr-3185	149	12	shows	show	VERB
fsr-3185	149	13	that	that	SCONJ
fsr-3185	149	14	the	the	DET
fsr-3185	149	15	younger	young	ADJ
fsr-3185	149	16	consumers	consumer	NOUN
fsr-3185	149	17	(	(	PUNCT
fsr-3185	149	18	18	18	NUM
fsr-3185	149	19	to	to	PART
fsr-3185	149	20	34	34	NUM
fsr-3185	149	21	years	year	NOUN
fsr-3185	149	22	old	old	ADJ
fsr-3185	149	23	)	)	PUNCT
fsr-3185	149	24	tend	tend	VERB
fsr-3185	149	25	to	to	PART
fsr-3185	149	26	be	be	AUX
fsr-3185	149	27	more	more	ADV
fsr-3185	149	28	optimistic	optimistic	ADJ
fsr-3185	149	29	than	than	ADP
fsr-3185	149	30	the	the	DET
fsr-3185	149	31	older	old	ADJ
fsr-3185	149	32	consumers	consumer	NOUN
fsr-3185	149	33	,	,	PUNCT
fsr-3185	149	34	and	and	CCONJ
fsr-3185	149	35	this	this	DET
fsr-3185	149	36	gap	gap	NOUN
fsr-3185	149	37	is	be	AUX
fsr-3185	149	38	persistent	persistent	ADJ
fsr-3185	149	39	for	for	ADP
fsr-3185	149	40	much	much	ADJ
fsr-3185	149	41	of	of	ADP
fsr-3185	149	42	the	the	DET
fsr-3185	149	43	sample	sample	NOUN
fsr-3185	149	44	period	period	NOUN
fsr-3185	149	45	.	.	PUNCT
fsr-3185	150	1	the	the	DET
fsr-3185	150	2	55	55	NUM
fsr-3185	150	3	years	year	NOUN
fsr-3185	150	4	old	old	ADJ
fsr-3185	150	5	and	and	CCONJ
fsr-3185	150	6	older	old	ADJ
fsr-3185	150	7	age	age	NOUN
fsr-3185	150	8	group	group	NOUN
fsr-3185	150	9	tends	tend	VERB
fsr-3185	150	10	to	to	PART
fsr-3185	150	11	record	record	VERB
fsr-3185	150	12	the	the	DET
fsr-3185	150	13	lowest	low	ADJ
fsr-3185	150	14	sentiment	sentiment	NOUN
fsr-3185	150	15	reading	read	VERB
fsr-3185	150	16	throughout	throughout	ADP
fsr-3185	150	17	the	the	DET
fsr-3185	150	18	sample	sample	NOUN
fsr-3185	150	19	period	period	NOUN
fsr-3185	150	20	.	.	PUNCT
fsr-3185	151	1	further	far	ADV
fsr-3185	151	2	,	,	PUNCT
fsr-3185	151	3	we	we	PRON
fsr-3185	151	4	observe	observe	VERB
fsr-3185	151	5	substantial	substantial	ADJ
fsr-3185	151	6	movements	movement	NOUN
fsr-3185	151	7	of	of	ADP
fsr-3185	151	8	these	these	DET
fsr-3185	151	9	indices	index	NOUN
fsr-3185	151	10	over	over	ADP
fsr-3185	151	11	time	time	NOUN
fsr-3185	151	12	,	,	PUNCT
fsr-3185	151	13	resulting	result	VERB
fsr-3185	151	14	in	in	ADP
fsr-3185	151	15	large	large	ADJ
fsr-3185	151	16	sds	sds	NOUN
fsr-3185	151	17	.	.	PUNCT
fsr-3185	152	1	this	this	DET
fsr-3185	152	2	figure	figure	NOUN
fsr-3185	152	3	also	also	ADV
fsr-3185	152	4	shows	show	VERB
fsr-3185	152	5	how	how	SCONJ
fsr-3185	152	6	the	the	DET
fsr-3185	152	7	sentiment	sentiment	NOUN
fsr-3185	152	8	of	of	ADP
fsr-3185	152	9	individuals	individual	NOUN
fsr-3185	152	10	,	,	PUNCT
fsr-3185	152	11	regardless	regardless	ADV
fsr-3185	152	12	of	of	ADP
fsr-3185	152	13	age	age	NOUN
fsr-3185	152	14	,	,	PUNCT
fsr-3185	152	15	tends	tend	VERB
fsr-3185	152	16	to	to	PART
fsr-3185	152	17	move	move	VERB
fsr-3185	152	18	in	in	ADP
fsr-3185	152	19	tandem	tandem	PROPN
fsr-3185	152	20	.	.	PUNCT
fsr-3185	153	1	3	3	X
fsr-3185	153	2	.	.	X
fsr-3185	153	3	empirical	empirical	ADJ
fsr-3185	153	4	results	result	NOUN
fsr-3185	153	5	3.1	3.1	NUM
fsr-3185	153	6	.	.	PUNCT
fsr-3185	153	7	benchmark	benchmark	NOUN
fsr-3185	153	8	case	case	NOUN
fsr-3185	153	9	table	table	NOUN
fsr-3185	153	10	2	2	NUM
fsr-3185	153	11	reports	report	VERB
fsr-3185	153	12	the	the	DET
fsr-3185	153	13	results	result	NOUN
fsr-3185	153	14	of	of	ADP
fsr-3185	153	15	the	the	DET
fsr-3185	153	16	benchmark	benchmark	ADJ
fsr-3185	153	17	regression	regression	NOUN
fsr-3185	153	18	model	model	NOUN
fsr-3185	153	19	from	from	ADP
fsr-3185	153	20	eq	eq	PROPN
fsr-3185	153	21	.	.	PUNCT
fsr-3185	154	1	(	(	PUNCT
fsr-3185	154	2	1	1	NUM
fsr-3185	154	3	)	)	PUNCT
fsr-3185	154	4	.	.	PUNCT
fsr-3185	155	1	the	the	DET
fsr-3185	155	2	coefficients	coefficient	NOUN
fsr-3185	155	3	for	for	ADP
fsr-3185	155	4	$	$	SYM
fsr-3185	155	5	csit	csit	NOUN
fsr-3185	155	6	are	be	AUX
fsr-3185	155	7	positive	positive	ADJ
fsr-3185	155	8	as	as	ADV
fsr-3185	155	9	well	well	ADV
fsr-3185	155	10	as	as	ADP
fsr-3185	155	11	statistically	statistically	ADV
fsr-3185	155	12	significant	significant	ADJ
fsr-3185	155	13	at	at	ADP
fsr-3185	155	14	the	the	DET
fsr-3185	155	15	1	1	NUM
fsr-3185	155	16	%	%	NOUN
fsr-3185	155	17	level	level	NOUN
fsr-3185	155	18	for	for	ADP
fsr-3185	155	19	both	both	DET
fsr-3185	155	20	stock	stock	NOUN
fsr-3185	155	21	fig	fig	NOUN
fsr-3185	155	22	.	.	PUNCT
fsr-3185	156	1	1	1	NUM
fsr-3185	156	2	.	.	NOUN
fsr-3185	156	3	time	time	NOUN
fsr-3185	156	4	-	-	PUNCT
fsr-3185	156	5	series	series	NOUN
fsr-3185	156	6	plot	plot	NOUN
fsr-3185	156	7	of	of	ADP
fsr-3185	156	8	consumer	consumer	NOUN
fsr-3185	156	9	sentiment	sentiment	NOUN
fsr-3185	156	10	based	base	VERB
fsr-3185	156	11	on	on	ADP
fsr-3185	156	12	age	age	NOUN
fsr-3185	156	13	groups	group	NOUN
fsr-3185	156	14	.	.	PUNCT
fsr-3185	157	1	this	this	DET
fsr-3185	157	2	figure	figure	NOUN
fsr-3185	157	3	plots	plot	VERB
fsr-3185	157	4	the	the	DET
fsr-3185	157	5	consumer	consumer	NOUN
fsr-3185	157	6	sentiment	sentiment	NOUN
fsr-3185	157	7	indexes	index	NOUN
fsr-3185	157	8	of	of	ADP
fsr-3185	157	9	three	three	NUM
fsr-3185	157	10	age	age	NOUN
fsr-3185	157	11	groups	group	NOUN
fsr-3185	157	12	:	:	PUNCT
fsr-3185	157	13	between	between	ADP
fsr-3185	157	14	18	18	NUM
fsr-3185	157	15	to	to	PART
fsr-3185	157	16	34	34	NUM
fsr-3185	157	17	years	year	NOUN
fsr-3185	157	18	old	old	ADJ
fsr-3185	157	19	;	;	PUNCT
fsr-3185	157	20	between	between	ADP
fsr-3185	157	21	35	35	NUM
fsr-3185	157	22	and	and	CCONJ
fsr-3185	157	23	54	54	NUM
fsr-3185	157	24	years	year	NOUN
fsr-3185	157	25	old	old	ADJ
fsr-3185	157	26	;	;	PUNCT
fsr-3185	157	27	and	and	CCONJ
fsr-3185	157	28	55	55	NUM
fsr-3185	157	29	years	year	NOUN
fsr-3185	157	30	old	old	ADJ
fsr-3185	157	31	and	and	CCONJ
fsr-3185	157	32	older	old	ADJ
fsr-3185	157	33	.	.	PUNCT
fsr-3185	158	1	52	52	NUM
fsr-3185	158	2	m.a	m.a	PROPN
fsr-3185	158	3	.	.	PROPN
fsr-3185	158	4	johnson	johnson	PROPN
fsr-3185	158	5	,	,	PUNCT
fsr-3185	158	6	a.	a.	PROPN
fsr-3185	158	7	naka	naka	PROPN
fsr-3185	158	8	/	/	SYM
fsr-3185	158	9	financial	financial	ADJ
fsr-3185	158	10	services	service	NOUN
fsr-3185	158	11	review	review	VERB
fsr-3185	158	12	23	23	NUM
fsr-3185	158	13	(	(	PUNCT
fsr-3185	158	14	2014	2014	NUM
fsr-3185	158	15	)	)	PUNCT
fsr-3185	158	16	45–61	45–61	NUM
fsr-3185	158	17	market	market	NOUN
fsr-3185	158	18	indices	index	NOUN
fsr-3185	158	19	used	use	VERB
fsr-3185	158	20	for	for	ADP
fsr-3185	158	21	six	six	NUM
fsr-3185	158	22	month	month	NOUN
fsr-3185	158	23	horizons	horizon	NOUN
fsr-3185	158	24	or	or	CCONJ
fsr-3185	158	25	less	less	ADJ
fsr-3185	158	26	.	.	PUNCT
fsr-3185	159	1	for	for	ADP
fsr-3185	159	2	the	the	DET
fsr-3185	159	3	12	12	NUM
fsr-3185	159	4	month	month	NOUN
fsr-3185	159	5	horizon	horizon	NOUN
fsr-3185	159	6	,	,	PUNCT
fsr-3185	159	7	the	the	DET
fsr-3185	159	8	coefficients	coefficient	NOUN
fsr-3185	159	9	for	for	ADP
fsr-3185	159	10	$	$	SYM
fsr-3185	159	11	csit	csit	NOUN
fsr-3185	159	12	are	be	AUX
fsr-3185	159	13	significant	significant	ADJ
fsr-3185	159	14	at	at	ADP
fsr-3185	159	15	the	the	DET
fsr-3185	159	16	5	5	NUM
fsr-3185	159	17	%	%	NOUN
fsr-3185	159	18	level	level	NOUN
fsr-3185	159	19	for	for	ADP
fsr-3185	159	20	the	the	DET
fsr-3185	159	21	crsp	crsp	NOUN
fsr-3185	159	22	ew	ew	INTJ
fsr-3185	159	23	index.9	index.9	ADJ
fsr-3185	159	24	the	the	DET
fsr-3185	159	25	results	result	NOUN
fsr-3185	159	26	are	be	AUX
fsr-3185	159	27	also	also	ADV
fsr-3185	159	28	economically	economically	ADV
fsr-3185	159	29	significant	significant	ADJ
fsr-3185	159	30	.	.	PUNCT
fsr-3185	160	1	for	for	ADP
fsr-3185	160	2	example	example	NOUN
fsr-3185	160	3	,	,	PUNCT
fsr-3185	160	4	for	for	ADP
fsr-3185	160	5	the	the	DET
fsr-3185	160	6	three	three	NUM
fsr-3185	160	7	month	month	NOUN
fsr-3185	160	8	horizon	horizon	NOUN
fsr-3185	160	9	for	for	ADP
fsr-3185	160	10	the	the	DET
fsr-3185	160	11	crsp	crsp	PROPN
fsr-3185	160	12	ew	ew	INTJ
fsr-3185	160	13	(	(	PUNCT
fsr-3185	160	14	vw	vw	PROPN
fsr-3185	160	15	)	)	PUNCT
fsr-3185	160	16	index	index	NOUN
fsr-3185	160	17	,	,	PUNCT
fsr-3185	160	18	a	a	DET
fsr-3185	160	19	10	10	NUM
fsr-3185	160	20	%	%	NOUN
fsr-3185	160	21	change	change	NOUN
fsr-3185	160	22	in	in	ADP
fsr-3185	160	23	overall	overall	ADJ
fsr-3185	160	24	consumer	consumer	NOUN
fsr-3185	160	25	sentiment	sentiment	NOUN
fsr-3185	160	26	(	(	PUNCT
fsr-3185	160	27	consumers	consumer	NOUN
fsr-3185	160	28	of	of	ADP
fsr-3185	160	29	all	all	DET
fsr-3185	160	30	ages	age	NOUN
fsr-3185	160	31	)	)	PUNCT
fsr-3185	160	32	results	result	NOUN
fsr-3185	160	33	in	in	ADP
fsr-3185	160	34	a	a	DET
fsr-3185	160	35	market	market	NOUN
fsr-3185	160	36	risk	risk	NOUN
fsr-3185	160	37	premium	premium	NOUN
fsr-3185	160	38	change	change	NOUN
fsr-3185	160	39	of	of	ADP
fsr-3185	160	40	7.36	7.36	NUM
fsr-3185	160	41	%	%	NOUN
fsr-3185	160	42	(	(	PUNCT
fsr-3185	160	43	5.34	5.34	NUM
fsr-3185	160	44	%	%	NOUN
fsr-3185	160	45	)	)	PUNCT
fsr-3185	160	46	.	.	PUNCT
fsr-3185	161	1	it	it	PRON
fsr-3185	161	2	can	can	AUX
fsr-3185	161	3	be	be	AUX
fsr-3185	161	4	interpreted	interpret	VERB
fsr-3185	161	5	from	from	ADP
fsr-3185	161	6	these	these	DET
fsr-3185	161	7	findings	finding	NOUN
fsr-3185	161	8	that	that	SCONJ
fsr-3185	161	9	a	a	DET
fsr-3185	161	10	positive	positive	ADJ
fsr-3185	161	11	change	change	NOUN
fsr-3185	161	12	in	in	ADP
fsr-3185	161	13	csi	csi	PROPN
fsr-3185	161	14	results	result	NOUN
fsr-3185	161	15	in	in	ADP
fsr-3185	161	16	positive	positive	ADJ
fsr-3185	161	17	future	future	ADJ
fsr-3185	161	18	excess	excess	ADJ
fsr-3185	161	19	stock	stock	NOUN
fsr-3185	161	20	returns	return	NOUN
fsr-3185	161	21	for	for	ADP
fsr-3185	161	22	subsequent	subsequent	ADJ
fsr-3185	161	23	holding	holding	NOUN
fsr-3185	161	24	period	period	NOUN
fsr-3185	161	25	returns	return	NOUN
fsr-3185	161	26	.	.	PUNCT
fsr-3185	162	1	however	however	ADV
fsr-3185	162	2	,	,	PUNCT
fsr-3185	162	3	for	for	ADP
fsr-3185	162	4	the	the	DET
fsr-3185	162	5	24	24	NUM
fsr-3185	162	6	month	month	NOUN
fsr-3185	162	7	horizon	horizon	NOUN
fsr-3185	162	8	,	,	PUNCT
fsr-3185	162	9	changes	change	NOUN
fsr-3185	162	10	in	in	ADP
fsr-3185	162	11	consumer	consumer	NOUN
fsr-3185	162	12	sentiment	sentiment	NOUN
fsr-3185	162	13	are	be	AUX
fsr-3185	162	14	no	no	ADV
fsr-3185	162	15	longer	long	ADV
fsr-3185	162	16	statistically	statistically	ADV
fsr-3185	162	17	significant	significant	ADJ
fsr-3185	162	18	in	in	ADP
fsr-3185	162	19	forecasting	forecast	VERB
fsr-3185	162	20	stock	stock	NOUN
fsr-3185	162	21	returns	return	NOUN
fsr-3185	162	22	.	.	PUNCT
fsr-3185	163	1	the	the	DET
fsr-3185	163	2	results	result	NOUN
fsr-3185	163	3	indicate	indicate	VERB
fsr-3185	163	4	that	that	DET
fsr-3185	163	5	sentiment	sentiment	NOUN
fsr-3185	163	6	is	be	AUX
fsr-3185	163	7	more	more	ADV
fsr-3185	163	8	important	important	ADJ
fsr-3185	163	9	in	in	ADP
fsr-3185	163	10	the	the	DET
fsr-3185	163	11	nearer	nearer	ADJ
fsr-3185	163	12	term	term	NOUN
fsr-3185	163	13	instead	instead	ADV
fsr-3185	163	14	of	of	ADP
fsr-3185	163	15	the	the	DET
fsr-3185	163	16	distant	distant	ADJ
fsr-3185	163	17	future	future	NOUN
fsr-3185	163	18	that	that	PRON
fsr-3185	163	19	can	can	AUX
fsr-3185	163	20	help	help	VERB
fsr-3185	163	21	individual	individual	ADJ
fsr-3185	163	22	investors	investor	NOUN
fsr-3185	163	23	and	and	CCONJ
fsr-3185	163	24	financial	financial	ADJ
fsr-3185	163	25	planners	planner	NOUN
fsr-3185	163	26	as	as	SCONJ
fsr-3185	163	27	they	they	PRON
fsr-3185	163	28	consider	consider	VERB
fsr-3185	163	29	using	use	VERB
fsr-3185	163	30	this	this	DET
fsr-3185	163	31	sentiment	sentiment	NOUN
fsr-3185	163	32	indicator	indicator	NOUN
fsr-3185	163	33	to	to	PART
fsr-3185	163	34	make	make	VERB
fsr-3185	163	35	equity	equity	NOUN
fsr-3185	163	36	investment	investment	NOUN
fsr-3185	163	37	decisions	decision	NOUN
fsr-3185	163	38	.	.	PUNCT
fsr-3185	164	1	the	the	DET
fsr-3185	164	2	long	long	ADJ
fsr-3185	164	3	-	-	PUNCT
fsr-3185	164	4	horizon	horizon	NOUN
fsr-3185	164	5	regressions	regression	NOUN
fsr-3185	164	6	that	that	SCONJ
fsr-3185	164	7	schmeling	schmele	VERB
fsr-3185	164	8	(	(	PUNCT
fsr-3185	164	9	2009	2009	NUM
fsr-3185	164	10	)	)	PUNCT
fsr-3185	164	11	uses	uses	AUX
fsr-3185	164	12	also	also	ADV
fsr-3185	164	13	show	show	VERB
fsr-3185	164	14	that	that	SCONJ
fsr-3185	164	15	the	the	DET
fsr-3185	164	16	impact	impact	NOUN
fsr-3185	164	17	of	of	ADP
fsr-3185	164	18	sentiment	sentiment	NOUN
fsr-3185	164	19	on	on	ADP
fsr-3185	164	20	average	average	ADJ
fsr-3185	164	21	future	future	ADJ
fsr-3185	164	22	returns	return	NOUN
fsr-3185	164	23	declines	decline	VERB
fsr-3185	164	24	as	as	ADP
fsr-3185	164	25	the	the	DET
fsr-3185	164	26	forecast	forecast	NOUN
fsr-3185	164	27	horizon	horizon	NOUN
fsr-3185	164	28	increases	increase	NOUN
fsr-3185	164	29	.	.	PUNCT
fsr-3185	165	1	furthermore	furthermore	ADV
fsr-3185	165	2	,	,	PUNCT
fsr-3185	165	3	given	give	VERB
fsr-3185	165	4	that	that	SCONJ
fsr-3185	165	5	csi	csi	PROPN
fsr-3185	165	6	data	datum	NOUN
fsr-3185	165	7	are	be	AUX
fsr-3185	165	8	released	release	VERB
fsr-3185	165	9	monthly	monthly	ADV
fsr-3185	165	10	,	,	PUNCT
fsr-3185	165	11	recent	recent	ADJ
fsr-3185	165	12	data	datum	NOUN
fsr-3185	165	13	points	point	NOUN
fsr-3185	165	14	provide	provide	VERB
fsr-3185	165	15	better	well	ADJ
fsr-3185	165	16	insights	insight	NOUN
fsr-3185	165	17	pertaining	pertain	VERB
fsr-3185	165	18	to	to	ADP
fsr-3185	165	19	consumers	consumer	NOUN
fsr-3185	165	20	and	and	CCONJ
fsr-3185	165	21	their	their	PRON
fsr-3185	165	22	outlooks	outlook	NOUN
fsr-3185	165	23	regarding	regard	VERB
fsr-3185	165	24	the	the	DET
fsr-3185	165	25	stock	stock	NOUN
fsr-3185	165	26	returns	return	NOUN
fsr-3185	165	27	.	.	PUNCT
fsr-3185	166	1	another	another	DET
fsr-3185	166	2	immediate	immediate	ADJ
fsr-3185	166	3	observation	observation	NOUN
fsr-3185	166	4	present	present	ADJ
fsr-3185	166	5	in	in	ADP
fsr-3185	166	6	table	table	NOUN
fsr-3185	166	7	2	2	NUM
fsr-3185	166	8	is	be	AUX
fsr-3185	166	9	that	that	SCONJ
fsr-3185	166	10	the	the	DET
fsr-3185	166	11	values	value	NOUN
fsr-3185	166	12	of	of	ADP
fsr-3185	166	13	the	the	DET
fsr-3185	166	14	slope	slope	NOUN
fsr-3185	166	15	coefficients	coefficient	NOUN
fsr-3185	166	16	are	be	AUX
fsr-3185	166	17	much	much	ADV
fsr-3185	166	18	larger	large	ADJ
fsr-3185	166	19	for	for	ADP
fsr-3185	166	20	the	the	DET
fsr-3185	166	21	crsp	crsp	PROPN
fsr-3185	167	1	ew	ew	INTJ
fsr-3185	167	2	excess	excess	ADJ
fsr-3185	167	3	returns	return	NOUN
fsr-3185	167	4	compared	compare	VERB
fsr-3185	167	5	to	to	ADP
fsr-3185	167	6	the	the	DET
fsr-3185	167	7	crsp	crsp	PROPN
fsr-3185	167	8	vw	vw	PROPN
fsr-3185	167	9	excess	excess	ADJ
fsr-3185	167	10	returns	return	NOUN
fsr-3185	167	11	.	.	PUNCT
fsr-3185	168	1	we	we	PRON
fsr-3185	168	2	attribute	attribute	VERB
fsr-3185	168	3	the	the	DET
fsr-3185	168	4	lower	low	ADJ
fsr-3185	168	5	excess	excess	ADJ
fsr-3185	168	6	returns	return	NOUN
fsr-3185	168	7	of	of	ADP
fsr-3185	168	8	the	the	DET
fsr-3185	168	9	vw	vw	PROPN
fsr-3185	168	10	index	index	NOUN
fsr-3185	168	11	$	$	SYM
fsr-3185	168	12	coefficients	coefficient	NOUN
fsr-3185	168	13	to	to	ADP
fsr-3185	168	14	the	the	DET
fsr-3185	168	15	documented	document	VERB
fsr-3185	168	16	findings	finding	NOUN
fsr-3185	168	17	of	of	ADP
fsr-3185	168	18	lemmon	lemmon	PROPN
fsr-3185	168	19	and	and	CCONJ
fsr-3185	168	20	portniaguina	portniaguina	PROPN
fsr-3185	168	21	(	(	PUNCT
fsr-3185	168	22	2006	2006	NUM
fsr-3185	168	23	)	)	PUNCT
fsr-3185	168	24	and	and	CCONJ
fsr-3185	168	25	schmeling	schmele	VERB
fsr-3185	168	26	(	(	PUNCT
fsr-3185	168	27	2009	2009	NUM
fsr-3185	168	28	)	)	PUNCT
fsr-3185	168	29	.	.	PUNCT
fsr-3185	169	1	they	they	PRON
fsr-3185	169	2	show	show	VERB
fsr-3185	169	3	that	that	SCONJ
fsr-3185	169	4	sentiment	sentiment	NOUN
fsr-3185	169	5	affects	affect	VERB
fsr-3185	169	6	the	the	DET
fsr-3185	169	7	stocks	stock	NOUN
fsr-3185	169	8	of	of	ADP
fsr-3185	169	9	firms	firm	NOUN
fsr-3185	169	10	of	of	ADP
fsr-3185	169	11	various	various	ADJ
fsr-3185	169	12	sizes	size	NOUN
fsr-3185	169	13	differently	differently	ADV
fsr-3185	169	14	.	.	PUNCT
fsr-3185	170	1	in	in	ADP
fsr-3185	170	2	the	the	DET
fsr-3185	170	3	vw	vw	PROPN
fsr-3185	170	4	index	index	NOUN
fsr-3185	170	5	,	,	PUNCT
fsr-3185	170	6	large	large	ADJ
fsr-3185	170	7	firm	firm	ADJ
fsr-3185	170	8	stock	stock	NOUN
fsr-3185	170	9	returns	return	NOUN
fsr-3185	170	10	are	be	AUX
fsr-3185	170	11	inherently	inherently	ADV
fsr-3185	170	12	weighted	weight	VERB
fsr-3185	170	13	more	more	ADV
fsr-3185	170	14	heavily	heavily	ADV
fsr-3185	170	15	than	than	ADP
fsr-3185	170	16	those	those	DET
fsr-3185	170	17	returns	return	NOUN
fsr-3185	170	18	of	of	ADP
fsr-3185	170	19	smaller	small	ADJ
fsr-3185	170	20	firms	firm	NOUN
fsr-3185	170	21	.	.	PUNCT
fsr-3185	171	1	thus	thus	ADV
fsr-3185	171	2	,	,	PUNCT
fsr-3185	171	3	the	the	DET
fsr-3185	171	4	effect	effect	NOUN
fsr-3185	171	5	of	of	ADP
fsr-3185	171	6	changes	change	NOUN
fsr-3185	171	7	in	in	ADP
fsr-3185	171	8	sentiment	sentiment	NOUN
fsr-3185	171	9	becomes	become	VERB
fsr-3185	171	10	harder	hard	ADJ
fsr-3185	171	11	to	to	PART
fsr-3185	171	12	disentangle	disentangle	VERB
fsr-3185	171	13	because	because	SCONJ
fsr-3185	171	14	of	of	ADP
fsr-3185	171	15	this	this	DET
fsr-3185	171	16	size	size	NOUN
fsr-3185	171	17	effect	effect	NOUN
fsr-3185	171	18	.	.	PUNCT
fsr-3185	172	1	the	the	DET
fsr-3185	172	2	ew	ew	PROPN
fsr-3185	172	3	index	index	NOUN
fsr-3185	172	4	$	$	SYM
fsr-3185	172	5	coefficients	coefficient	NOUN
fsr-3185	172	6	shows	show	VERB
fsr-3185	172	7	that	that	SCONJ
fsr-3185	172	8	holding	hold	VERB
fsr-3185	172	9	firm	firm	ADJ
fsr-3185	172	10	size	size	NOUN
fsr-3185	172	11	constant	constant	ADJ
fsr-3185	172	12	,	,	PUNCT
fsr-3185	172	13	changes	change	NOUN
fsr-3185	172	14	in	in	ADP
fsr-3185	172	15	csi	csi	PROPN
fsr-3185	172	16	are	be	AUX
fsr-3185	172	17	still	still	ADV
fsr-3185	172	18	important	important	ADJ
fsr-3185	172	19	.	.	PUNCT
fsr-3185	173	1	we	we	PRON
fsr-3185	173	2	also	also	ADV
fsr-3185	173	3	observe	observe	VERB
fsr-3185	173	4	that	that	SCONJ
fsr-3185	173	5	the	the	DET
fsr-3185	173	6	values	value	NOUN
fsr-3185	173	7	of	of	ADP
fsr-3185	173	8	r2	r2	PROPN
fsr-3185	173	9	are	be	AUX
fsr-3185	173	10	the	the	DET
fsr-3185	173	11	largest	large	ADJ
fsr-3185	173	12	for	for	ADP
fsr-3185	173	13	the	the	DET
fsr-3185	173	14	one	one	NUM
fsr-3185	173	15	month	month	NOUN
fsr-3185	173	16	and	and	CCONJ
fsr-3185	173	17	three	three	NUM
fsr-3185	173	18	month	month	NOUN
fsr-3185	173	19	horizons	horizon	NOUN
fsr-3185	173	20	,	,	PUNCT
fsr-3185	173	21	and	and	CCONJ
fsr-3185	173	22	they	they	PRON
fsr-3185	173	23	gradually	gradually	ADV
fsr-3185	173	24	decrease	decrease	VERB
fsr-3185	173	25	as	as	ADP
fsr-3185	173	26	the	the	DET
fsr-3185	173	27	horizon	horizon	NOUN
fsr-3185	173	28	increases	increase	VERB
fsr-3185	173	29	.	.	PUNCT
fsr-3185	174	1	as	as	SCONJ
fsr-3185	174	2	we	we	PRON
fsr-3185	174	3	found	find	VERB
fsr-3185	174	4	in	in	ADP
fsr-3185	174	5	table	table	NOUN
fsr-3185	174	6	2	2	NUM
fsr-3185	174	7	,	,	PUNCT
fsr-3185	174	8	table	table	NOUN
fsr-3185	174	9	2	2	NUM
fsr-3185	174	10	benchmark	benchmark	NOUN
fsr-3185	174	11	model	model	NOUN
fsr-3185	174	12	dependent	dependent	ADJ
fsr-3185	174	13	variable	variable	ADJ
fsr-3185	174	14	forecast	forecast	NOUN
fsr-3185	174	15	horizon	horizon	NOUN
fsr-3185	174	16	(	(	PUNCT
fsr-3185	174	17	k	k	X
fsr-3185	174	18	)	)	PUNCT
fsr-3185	174	19	1	1	NUM
fsr-3185	174	20	3	3	NUM
fsr-3185	174	21	6	6	NUM
fsr-3185	174	22	12	12	NUM
fsr-3185	174	23	24	24	NUM
fsr-3185	174	24	ew	ew	NOUN
fsr-3185	174	25	returns	return	NOUN
fsr-3185	174	26	vw	vw	PROPN
fsr-3185	174	27	returns	return	NOUN
fsr-3185	174	28	ew	ew	INTJ
fsr-3185	174	29	returns	return	NOUN
fsr-3185	174	30	vw	vw	PROPN
fsr-3185	174	31	returns	return	NOUN
fsr-3185	174	32	ew	ew	INTJ
fsr-3185	174	33	returns	return	NOUN
fsr-3185	174	34	vw	vw	PROPN
fsr-3185	174	35	returns	return	NOUN
fsr-3185	174	36	ew	ew	INTJ
fsr-3185	174	37	returns	return	NOUN
fsr-3185	174	38	vw	vw	PROPN
fsr-3185	174	39	returns	return	NOUN
fsr-3185	174	40	ew	ew	INTJ
fsr-3185	174	41	returns	return	NOUN
fsr-3185	174	42	vw	vw	PROPN
fsr-3185	174	43	returns	return	NOUN
fsr-3185	174	44	intercept	intercept	VERB
fsr-3185	174	45	#	#	NOUN
fsr-3185	174	46	0.006	0.006	NUM
fsr-3185	174	47	0.003	0.003	NUM
fsr-3185	174	48	0.019	0.019	NUM
fsr-3185	174	49	0.010	0.010	NUM
fsr-3185	174	50	0.038	0.038	NUM
fsr-3185	174	51	0.019	0.019	NUM
fsr-3185	174	52	0.073	0.073	NUM
fsr-3185	174	53	0.037	0.037	NUM
fsr-3185	174	54	0.135	0.135	NUM
fsr-3185	174	55	0.069	0.069	NUM
fsr-3185	174	56	se	se	X
fsr-3185	174	57	(	(	PUNCT
fsr-3185	174	58	0.003	0.003	NUM
fsr-3185	174	59	)	)	PUNCT
fsr-3185	174	60	(	(	PUNCT
fsr-3185	174	61	0.002	0.002	NUM
fsr-3185	174	62	)	)	PUNCT
fsr-3185	174	63	(	(	PUNCT
fsr-3185	174	64	0.009	0.009	NUM
fsr-3185	174	65	)	)	PUNCT
fsr-3185	174	66	(	(	PUNCT
fsr-3185	174	67	0.006	0.006	NUM
fsr-3185	174	68	)	)	PUNCT
fsr-3185	174	69	(	(	PUNCT
fsr-3185	174	70	0.016	0.016	NUM
fsr-3185	174	71	)	)	PUNCT
fsr-3185	174	72	(	(	PUNCT
fsr-3185	174	73	0.012	0.012	NUM
fsr-3185	174	74	)	)	PUNCT
fsr-3185	174	75	(	(	PUNCT
fsr-3185	174	76	0.024	0.024	NUM
fsr-3185	174	77	)	)	PUNCT
fsr-3185	174	78	(	(	PUNCT
fsr-3185	174	79	0.019	0.019	NUM
fsr-3185	174	80	)	)	PUNCT
fsr-3185	174	81	(	(	PUNCT
fsr-3185	174	82	0.029	0.029	NUM
fsr-3185	174	83	)	)	PUNCT
fsr-3185	174	84	(	(	PUNCT
fsr-3185	174	85	0.026	0.026	NUM
fsr-3185	174	86	)	)	PUNCT
fsr-3185	174	87	p	p	NOUN
fsr-3185	174	88	value	value	NOUN
fsr-3185	174	89	[	[	X
fsr-3185	174	90	0.032	0.032	NUM
fsr-3185	174	91	]	]	X
fsr-3185	175	1	[	[	X
fsr-3185	175	2	0.151	0.151	NUM
fsr-3185	175	3	]	]	X
fsr-3185	176	1	[	[	X
fsr-3185	176	2	0.025	0.025	NUM
fsr-3185	176	3	]	]	PUNCT
fsr-3185	177	1	[	[	X
fsr-3185	177	2	0.131	0.131	NUM
fsr-3185	177	3	]	]	PUNCT
fsr-3185	178	1	[	[	X
fsr-3185	178	2	0.017	0.017	NUM
fsr-3185	178	3	]	]	X
fsr-3185	179	1	[	[	X
fsr-3185	179	2	0.113	0.113	NUM
fsr-3185	179	3	]	]	X
fsr-3185	180	1	[	[	X
fsr-3185	180	2	0.003	0.003	NUM
fsr-3185	180	3	]	]	X
fsr-3185	181	1	[	[	X
fsr-3185	181	2	0.053	0.053	NUM
fsr-3185	181	3	]	]	PUNCT
fsr-3185	182	1	[	[	X
fsr-3185	182	2	0.000	0.000	X
fsr-3185	182	3	]	]	X
fsr-3185	183	1	[	[	X
fsr-3185	183	2	0.008	0.008	NUM
fsr-3185	183	3	]	]	PUNCT
fsr-3185	183	4	slope	slope	NOUN
fsr-3185	183	5	$	$	SYM
fsr-3185	183	6	0.362	0.362	NUM
fsr-3185	183	7	0.204	0.204	NUM
fsr-3185	183	8	0.736	0.736	NUM
fsr-3185	183	9	0.534	0.534	NUM
fsr-3185	183	10	0.635	0.635	NUM
fsr-3185	183	11	0.425	0.425	NUM
fsr-3185	183	12	0.487	0.487	NUM
fsr-3185	183	13	0.287	0.287	NUM
fsr-3185	183	14	0.338	0.338	NUM
fsr-3185	183	15	0.092	0.092	NUM
fsr-3185	183	16	se	se	X
fsr-3185	183	17	(	(	PUNCT
fsr-3185	183	18	0.064	0.064	NUM
fsr-3185	183	19	)	)	PUNCT
fsr-3185	183	20	(	(	PUNCT
fsr-3185	183	21	0.054	0.054	NUM
fsr-3185	183	22	)	)	PUNCT
fsr-3185	183	23	(	(	PUNCT
fsr-3185	183	24	0.107	0.107	NUM
fsr-3185	183	25	)	)	PUNCT
fsr-3185	183	26	(	(	PUNCT
fsr-3185	183	27	0.081	0.081	NUM
fsr-3185	183	28	)	)	PUNCT
fsr-3185	183	29	(	(	PUNCT
fsr-3185	183	30	0.142	0.142	NUM
fsr-3185	183	31	)	)	PUNCT
fsr-3185	183	32	(	(	PUNCT
fsr-3185	183	33	0.098	0.098	NUM
fsr-3185	183	34	)	)	PUNCT
fsr-3185	183	35	(	(	PUNCT
fsr-3185	183	36	0.214	0.214	NUM
fsr-3185	183	37	)	)	PUNCT
fsr-3185	183	38	(	(	PUNCT
fsr-3185	183	39	0.161	0.161	NUM
fsr-3185	183	40	)	)	PUNCT
fsr-3185	183	41	(	(	PUNCT
fsr-3185	183	42	0.256	0.256	NUM
fsr-3185	183	43	)	)	PUNCT
fsr-3185	183	44	(	(	PUNCT
fsr-3185	183	45	0.188	0.188	NUM
fsr-3185	183	46	)	)	PUNCT
fsr-3185	183	47	p	p	NOUN
fsr-3185	183	48	value	value	NOUN
fsr-3185	184	1	[	[	X
fsr-3185	184	2	0.000	0.000	X
fsr-3185	184	3	]	]	X
fsr-3185	185	1	[	[	X
fsr-3185	185	2	0.000	0.000	X
fsr-3185	185	3	]	]	X
fsr-3185	186	1	[	[	X
fsr-3185	186	2	0.000	0.000	X
fsr-3185	186	3	]	]	X
fsr-3185	187	1	[	[	X
fsr-3185	187	2	0.000	0.000	X
fsr-3185	187	3	]	]	X
fsr-3185	188	1	[	[	X
fsr-3185	188	2	0.000	0.000	X
fsr-3185	188	3	]	]	X
fsr-3185	189	1	[	[	X
fsr-3185	189	2	0.000	0.000	X
fsr-3185	189	3	]	]	X
fsr-3185	190	1	[	[	X
fsr-3185	190	2	0.023	0.023	NUM
fsr-3185	190	3	]	]	PUNCT
fsr-3185	191	1	[	[	X
fsr-3185	191	2	0.076	0.076	NUM
fsr-3185	191	3	]	]	X
fsr-3185	192	1	[	[	X
fsr-3185	192	2	0.187	0.187	NUM
fsr-3185	192	3	]	]	X
fsr-3185	193	1	[	[	X
fsr-3185	193	2	0.626	0.626	NUM
fsr-3185	193	3	]	]	PUNCT
fsr-3185	193	4	r2	r2	NOUN
fsr-3185	193	5	0.104	0.104	NUM
fsr-3185	193	6	0.049	0.049	NUM
fsr-3185	193	7	0.109	0.109	NUM
fsr-3185	193	8	0.103	0.103	NUM
fsr-3185	193	9	0.040	0.040	NUM
fsr-3185	193	10	0.033	0.033	NUM
fsr-3185	193	11	0.013	0.013	NUM
fsr-3185	193	12	0.008	0.008	NUM
fsr-3185	193	13	0.005	0.005	NUM
fsr-3185	193	14	0.000	0.000	NUM
fsr-3185	193	15	note	note	NOUN
fsr-3185	193	16	.	.	PUNCT
fsr-3185	194	1	this	this	DET
fsr-3185	194	2	table	table	NOUN
fsr-3185	194	3	represents	represent	VERB
fsr-3185	194	4	long	long	ADJ
fsr-3185	194	5	-	-	PUNCT
fsr-3185	194	6	horizon	horizon	NOUN
fsr-3185	194	7	ordinary	ordinary	ADJ
fsr-3185	194	8	least	least	ADJ
fsr-3185	194	9	square	square	ADJ
fsr-3185	194	10	regressions	regression	NOUN
fsr-3185	194	11	of	of	ADP
fsr-3185	194	12	one	one	NUM
fsr-3185	194	13	month	month	NOUN
fsr-3185	194	14	excess	excess	ADJ
fsr-3185	194	15	returns	return	NOUN
fsr-3185	194	16	(	(	PUNCT
fsr-3185	194	17	ri	ri	PROPN
fsr-3185	194	18	,	,	PUNCT
fsr-3185	194	19	t	t	PROPN
fsr-3185	194	20	)	)	PUNCT
fsr-3185	194	21	of	of	ADP
fsr-3185	194	22	various	various	ADJ
fsr-3185	194	23	indices	index	NOUN
fsr-3185	194	24	on	on	ADP
fsr-3185	194	25	changes	change	NOUN
fsr-3185	194	26	in	in	ADP
fsr-3185	194	27	the	the	DET
fsr-3185	194	28	consumer	consumer	NOUN
fsr-3185	194	29	sentiment	sentiment	NOUN
fsr-3185	194	30	index	index	NOUN
fsr-3185	194	31	(	(	PUNCT
fsr-3185	194	32	csi	csi	PROPN
fsr-3185	194	33	)	)	PUNCT
fsr-3185	194	34	.	.	PUNCT
fsr-3185	195	1	the	the	DET
fsr-3185	195	2	dependent	dependent	ADJ
fsr-3185	195	3	variable	variable	NOUN
fsr-3185	195	4	is	be	AUX
fsr-3185	195	5	the	the	DET
fsr-3185	195	6	excess	excess	ADJ
fsr-3185	195	7	return	return	NOUN
fsr-3185	195	8	of	of	ADP
fsr-3185	195	9	either	either	CCONJ
fsr-3185	195	10	the	the	DET
fsr-3185	195	11	crsp	crsp	PROPN
fsr-3185	195	12	equally	equally	ADV
fsr-3185	195	13	weighted	weight	VERB
fsr-3185	195	14	portfolio	portfolio	NOUN
fsr-3185	195	15	or	or	CCONJ
fsr-3185	195	16	the	the	DET
fsr-3185	195	17	crsp	crsp	PROPN
fsr-3185	195	18	value	value	NOUN
fsr-3185	195	19	weighted	weight	VERB
fsr-3185	195	20	portfolio	portfolio	NOUN
fsr-3185	195	21	.	.	PUNCT
fsr-3185	196	1	k	k	PROPN
fsr-3185	196	2	stands	stand	VERB
fsr-3185	196	3	for	for	ADP
fsr-3185	196	4	monthly	monthly	ADJ
fsr-3185	196	5	cumulated	cumulated	ADJ
fsr-3185	196	6	k	k	PROPN
fsr-3185	196	7	horizon	horizon	NOUN
fsr-3185	196	8	returns	return	NOUN
fsr-3185	196	9	and	and	CCONJ
fsr-3185	196	10	when	when	SCONJ
fsr-3185	196	11	k	k	PROPN
fsr-3185	196	12	is	be	AUX
fsr-3185	196	13	greater	great	ADJ
fsr-3185	196	14	than	than	ADP
fsr-3185	196	15	one	one	NUM
fsr-3185	196	16	,	,	PUNCT
fsr-3185	196	17	the	the	DET
fsr-3185	196	18	regressions	regression	NOUN
fsr-3185	196	19	use	use	VERB
fsr-3185	196	20	overlapping	overlap	VERB
fsr-3185	196	21	monthly	monthly	ADJ
fsr-3185	196	22	data	datum	NOUN
fsr-3185	196	23	.	.	PUNCT
fsr-3185	197	1	all	all	DET
fsr-3185	197	2	data	datum	NOUN
fsr-3185	197	3	is	be	AUX
fsr-3185	197	4	monthly	monthly	ADJ
fsr-3185	197	5	and	and	CCONJ
fsr-3185	197	6	is	be	AUX
fsr-3185	197	7	from	from	ADP
fsr-3185	197	8	january	january	PROPN
fsr-3185	197	9	1978	1978	NUM
fsr-3185	197	10	until	until	ADP
fsr-3185	197	11	december	december	PROPN
fsr-3185	197	12	2010	2010	NUM
fsr-3185	197	13	.	.	PUNCT
fsr-3185	198	1	statistical	statistical	ADJ
fsr-3185	198	2	significance	significance	NOUN
fsr-3185	198	3	is	be	AUX
fsr-3185	198	4	determined	determine	VERB
fsr-3185	198	5	by	by	ADP
fsr-3185	198	6	the	the	DET
fsr-3185	198	7	newey	newey	PROPN
fsr-3185	198	8	-	-	PUNCT
fsr-3185	198	9	west	west	PROPN
fsr-3185	198	10	p	p	NOUN
fsr-3185	198	11	values	value	NOUN
fsr-3185	198	12	.	.	PUNCT
fsr-3185	199	1	53m.a	53m.a	X
fsr-3185	199	2	.	.	PUNCT
fsr-3185	200	1	johnson	johnson	PROPN
fsr-3185	200	2	,	,	PUNCT
fsr-3185	200	3	a.	a.	PROPN
fsr-3185	200	4	naka	naka	PROPN
fsr-3185	200	5	/	/	SYM
fsr-3185	200	6	financial	financial	ADJ
fsr-3185	200	7	services	service	NOUN
fsr-3185	200	8	review	review	VERB
fsr-3185	200	9	23	23	NUM
fsr-3185	200	10	(	(	PUNCT
fsr-3185	200	11	2014	2014	NUM
fsr-3185	200	12	)	)	PUNCT
fsr-3185	200	13	45–61	45–61	NUM
fsr-3185	200	14	nearer	near	ADJ
fsr-3185	200	15	term	term	NOUN
fsr-3185	200	16	economic	economic	ADJ
fsr-3185	200	17	data	datum	NOUN
fsr-3185	200	18	impacts	impact	NOUN
fsr-3185	200	19	sentiment	sentiment	NOUN
fsr-3185	200	20	more	more	ADJ
fsr-3185	200	21	,	,	PUNCT
fsr-3185	200	22	this	this	PRON
fsr-3185	200	23	in	in	ADP
fsr-3185	200	24	turn	turn	NOUN
fsr-3185	200	25	,	,	PUNCT
fsr-3185	200	26	is	be	AUX
fsr-3185	200	27	then	then	ADV
fsr-3185	200	28	priced	price	VERB
fsr-3185	200	29	into	into	ADP
fsr-3185	200	30	the	the	DET
fsr-3185	200	31	stock	stock	NOUN
fsr-3185	200	32	market	market	NOUN
fsr-3185	200	33	shortly	shortly	ADV
fsr-3185	200	34	thereafter	thereafter	ADV
fsr-3185	200	35	.	.	PUNCT
fsr-3185	201	1	campbell	campbell	PROPN
fsr-3185	201	2	et	et	PROPN
fsr-3185	201	3	al	al	PROPN
fsr-3185	201	4	.	.	PROPN
fsr-3185	201	5	(	(	PUNCT
fsr-3185	201	6	1997	1997	NUM
fsr-3185	201	7	)	)	PUNCT
fsr-3185	201	8	presents	present	VERB
fsr-3185	201	9	long	long	ADJ
fsr-3185	201	10	-	-	PUNCT
fsr-3185	201	11	horizon	horizon	NOUN
fsr-3185	201	12	regression	regression	NOUN
fsr-3185	201	13	results	result	NOUN
fsr-3185	201	14	with	with	ADP
fsr-3185	201	15	increasing	increase	VERB
fsr-3185	201	16	r2	r2	NOUN
fsr-3185	201	17	’s	’s	ADV
fsr-3185	201	18	for	for	ADP
fsr-3185	201	19	longer	long	ADJ
fsr-3185	201	20	horizons	horizon	NOUN
fsr-3185	201	21	.	.	PUNCT
fsr-3185	202	1	however	however	ADV
fsr-3185	202	2	,	,	PUNCT
fsr-3185	202	3	valkanov	valkanov	PROPN
fsr-3185	202	4	(	(	PUNCT
fsr-3185	202	5	2003	2003	NUM
fsr-3185	202	6	)	)	PUNCT
fsr-3185	202	7	shows	show	VERB
fsr-3185	202	8	that	that	SCONJ
fsr-3185	202	9	the	the	DET
fsr-3185	202	10	interpretation	interpretation	NOUN
fsr-3185	202	11	of	of	ADP
fsr-3185	202	12	the	the	DET
fsr-3185	202	13	r2	r2	NOUN
fsr-3185	202	14	’s	’s	PART
fsr-3185	202	15	for	for	ADP
fsr-3185	202	16	long	long	ADJ
fsr-3185	202	17	-	-	PUNCT
fsr-3185	202	18	horizon	horizon	NOUN
fsr-3185	202	19	regressions	regression	NOUN
fsr-3185	202	20	is	be	AUX
fsr-3185	202	21	not	not	PART
fsr-3185	202	22	straightforward	straightforward	ADJ
fsr-3185	202	23	and	and	CCONJ
fsr-3185	202	24	can	can	AUX
fsr-3185	202	25	be	be	AUX
fsr-3185	202	26	misleading	mislead	VERB
fsr-3185	202	27	for	for	ADP
fsr-3185	202	28	comparisons	comparison	NOUN
fsr-3185	202	29	of	of	ADP
fsr-3185	202	30	regression	regression	NOUN
fsr-3185	202	31	results	result	NOUN
fsr-3185	202	32	.	.	PUNCT
fsr-3185	203	1	3.2	3.2	NUM
fsr-3185	203	2	.	.	PUNCT
fsr-3185	203	3	asymmetric	asymmetric	ADJ
fsr-3185	203	4	response	response	NOUN
fsr-3185	203	5	model	model	NOUN
fsr-3185	203	6	table	table	NOUN
fsr-3185	203	7	3	3	NUM
fsr-3185	203	8	presents	present	VERB
fsr-3185	203	9	the	the	DET
fsr-3185	203	10	findings	finding	NOUN
fsr-3185	203	11	of	of	ADP
fsr-3185	203	12	the	the	DET
fsr-3185	203	13	asymmetric	asymmetric	ADJ
fsr-3185	203	14	response	response	NOUN
fsr-3185	203	15	models	model	NOUN
fsr-3185	203	16	in	in	ADP
fsr-3185	203	17	eq	eq	ADP
fsr-3185	203	18	.	.	PUNCT
fsr-3185	204	1	(	(	PUNCT
fsr-3185	204	2	2	2	NUM
fsr-3185	204	3	)	)	PUNCT
fsr-3185	204	4	for	for	ADP
fsr-3185	204	5	the	the	DET
fsr-3185	204	6	overall	overall	ADJ
fsr-3185	204	7	csi	csi	ADJ
fsr-3185	204	8	composite	composite	NOUN
fsr-3185	204	9	.	.	PUNCT
fsr-3185	205	1	we	we	PRON
fsr-3185	205	2	observe	observe	VERB
fsr-3185	205	3	that	that	SCONJ
fsr-3185	205	4	all	all	PRON
fsr-3185	205	5	of	of	ADP
fsr-3185	205	6	these	these	DET
fsr-3185	205	7	coefficients	coefficient	NOUN
fsr-3185	205	8	of	of	ADP
fsr-3185	205	9	the	the	DET
fsr-3185	205	10	downside	downside	NOUN
fsr-3185	205	11	$	$	SYM
fsr-3185	205	12	s	s	NOUN
fsr-3185	205	13	(	(	PUNCT
fsr-3185	205	14	$	$	SYM
fsr-3185	205	15	&	&	CCONJ
fsr-3185	205	16	)	)	PUNCT
fsr-3185	205	17	are	be	AUX
fsr-3185	205	18	positive	positive	ADJ
fsr-3185	205	19	and	and	CCONJ
fsr-3185	205	20	statistically	statistically	ADV
fsr-3185	205	21	significant	significant	ADJ
fsr-3185	205	22	,	,	PUNCT
fsr-3185	205	23	with	with	ADP
fsr-3185	205	24	most	most	ADV
fsr-3185	205	25	at	at	ADP
fsr-3185	205	26	the	the	DET
fsr-3185	205	27	1	1	NUM
fsr-3185	205	28	%	%	NOUN
fsr-3185	205	29	level	level	NOUN
fsr-3185	205	30	of	of	ADP
fsr-3185	205	31	significance	significance	NOUN
fsr-3185	205	32	,	,	PUNCT
fsr-3185	205	33	and	and	CCONJ
fsr-3185	205	34	two	two	NUM
fsr-3185	205	35	coefficients	coefficient	NOUN
fsr-3185	205	36	at	at	ADP
fsr-3185	205	37	the	the	DET
fsr-3185	205	38	5	5	NUM
fsr-3185	205	39	%	%	NOUN
fsr-3185	205	40	level	level	NOUN
fsr-3185	205	41	of	of	ADP
fsr-3185	205	42	significance	significance	NOUN
fsr-3185	205	43	(	(	PUNCT
fsr-3185	205	44	ew	ew	INTJ
fsr-3185	205	45	index	index	NOUN
fsr-3185	205	46	,	,	PUNCT
fsr-3185	205	47	12	12	NUM
fsr-3185	205	48	and	and	CCONJ
fsr-3185	205	49	24	24	NUM
fsr-3185	205	50	month	month	NOUN
fsr-3185	205	51	horizons	horizon	NOUN
fsr-3185	205	52	)	)	PUNCT
fsr-3185	205	53	.	.	PUNCT
fsr-3185	206	1	the	the	DET
fsr-3185	206	2	results	result	NOUN
fsr-3185	206	3	support	support	VERB
fsr-3185	206	4	that	that	SCONJ
fsr-3185	206	5	the	the	DET
fsr-3185	206	6	ideas	idea	NOUN
fsr-3185	206	7	of	of	ADP
fsr-3185	206	8	a	a	DET
fsr-3185	206	9	positive	positive	ADJ
fsr-3185	206	10	risk	risk	NOUN
fsr-3185	206	11	premium	premium	NOUN
fsr-3185	206	12	since	since	SCONJ
fsr-3185	206	13	investors	investor	NOUN
fsr-3185	206	14	are	be	AUX
fsr-3185	206	15	averse	averse	ADJ
fsr-3185	206	16	to	to	AUX
fsr-3185	206	17	downside	downside	VERB
fsr-3185	206	18	risk	risk	NOUN
fsr-3185	206	19	and	and	CCONJ
fsr-3185	206	20	the	the	PRON
fsr-3185	206	21	higher	high	ADJ
fsr-3185	206	22	the	the	DET
fsr-3185	206	23	downside	downside	ADJ
fsr-3185	206	24	risk	risk	NOUN
fsr-3185	206	25	,	,	PUNCT
fsr-3185	206	26	the	the	PRON
fsr-3185	206	27	higher	high	ADJ
fsr-3185	206	28	the	the	DET
fsr-3185	206	29	stock	stock	NOUN
fsr-3185	206	30	returns	return	NOUN
fsr-3185	206	31	.	.	PUNCT
fsr-3185	207	1	these	these	DET
fsr-3185	207	2	results	result	NOUN
fsr-3185	207	3	are	be	AUX
fsr-3185	207	4	consistent	consistent	ADJ
fsr-3185	207	5	with	with	ADP
fsr-3185	207	6	studies	study	NOUN
fsr-3185	207	7	such	such	ADJ
fsr-3185	207	8	as	as	ADP
fsr-3185	207	9	ang	ang	PROPN
fsr-3185	207	10	,	,	PUNCT
fsr-3185	207	11	chen	chen	PROPN
fsr-3185	207	12	,	,	PUNCT
fsr-3185	207	13	and	and	CCONJ
fsr-3185	207	14	xing	xing	PROPN
fsr-3185	207	15	(	(	PUNCT
fsr-3185	207	16	2006	2006	NUM
fsr-3185	207	17	)	)	PUNCT
fsr-3185	207	18	and	and	CCONJ
fsr-3185	207	19	akhtar	akhtar	PROPN
fsr-3185	207	20	et	et	PROPN
fsr-3185	207	21	al	al	PROPN
fsr-3185	207	22	.	.	PROPN
fsr-3185	208	1	(	(	PUNCT
fsr-3185	208	2	2011	2011	NUM
fsr-3185	208	3	)	)	PUNCT
fsr-3185	208	4	,	,	PUNCT
fsr-3185	208	5	and	and	CCONJ
fsr-3185	208	6	capture	capture	VERB
fsr-3185	208	7	the	the	DET
fsr-3185	208	8	essence	essence	NOUN
fsr-3185	208	9	of	of	ADP
fsr-3185	208	10	the	the	DET
fsr-3185	208	11	prospect	prospect	NOUN
fsr-3185	208	12	theory	theory	NOUN
fsr-3185	208	13	of	of	ADP
fsr-3185	208	14	kahneman	kahneman	NOUN
fsr-3185	208	15	and	and	CCONJ
fsr-3185	208	16	tversky	tversky	PROPN
fsr-3185	208	17	(	(	PUNCT
fsr-3185	208	18	1979	1979	NUM
fsr-3185	208	19	)	)	PUNCT
fsr-3185	208	20	.	.	PUNCT
fsr-3185	209	1	referring	refer	VERB
fsr-3185	209	2	to	to	ADP
fsr-3185	209	3	the	the	DET
fsr-3185	209	4	estimates	estimate	NOUN
fsr-3185	209	5	of	of	ADP
fsr-3185	209	6	downside	downside	ADJ
fsr-3185	209	7	$	$	SYM
fsr-3185	209	8	s	s	PROPN
fsr-3185	209	9	,	,	PUNCT
fsr-3185	209	10	as	as	SCONJ
fsr-3185	209	11	the	the	DET
fsr-3185	209	12	forecast	forecast	NOUN
fsr-3185	209	13	horizon	horizon	NOUN
fsr-3185	209	14	increases	increase	NOUN
fsr-3185	209	15	,	,	PUNCT
fsr-3185	209	16	so	so	ADV
fsr-3185	209	17	does	do	VERB
fsr-3185	209	18	the	the	DET
fsr-3185	209	19	magnitude	magnitude	NOUN
fsr-3185	209	20	of	of	ADP
fsr-3185	209	21	$	$	SYM
fsr-3185	209	22	&	&	CCONJ
fsr-3185	209	23	.	.	PUNCT
fsr-3185	210	1	for	for	ADP
fsr-3185	210	2	example	example	NOUN
fsr-3185	210	3	,	,	PUNCT
fsr-3185	210	4	the	the	DET
fsr-3185	210	5	values	value	NOUN
fsr-3185	210	6	are	be	AUX
fsr-3185	210	7	0.428	0.428	NUM
fsr-3185	210	8	(	(	PUNCT
fsr-3185	210	9	ew	ew	NOUN
fsr-3185	210	10	returns	return	NOUN
fsr-3185	210	11	)	)	PUNCT
fsr-3185	210	12	and	and	CCONJ
fsr-3185	210	13	0.338	0.338	NUM
fsr-3185	210	14	(	(	PUNCT
fsr-3185	210	15	vw	vw	NOUN
fsr-3185	210	16	returns	return	NOUN
fsr-3185	210	17	)	)	PUNCT
fsr-3185	210	18	for	for	ADP
fsr-3185	210	19	the	the	DET
fsr-3185	210	20	one	one	NUM
fsr-3185	210	21	month	month	NOUN
fsr-3185	210	22	horizon	horizon	NOUN
fsr-3185	210	23	but	but	CCONJ
fsr-3185	210	24	1.319	1.319	NUM
fsr-3185	210	25	(	(	PUNCT
fsr-3185	210	26	ew	ew	NOUN
fsr-3185	210	27	returns	return	NOUN
fsr-3185	210	28	)	)	PUNCT
fsr-3185	210	29	and	and	CCONJ
fsr-3185	210	30	1.463	1.463	NUM
fsr-3185	210	31	(	(	PUNCT
fsr-3185	210	32	vw	vw	NOUN
fsr-3185	210	33	returns	return	NOUN
fsr-3185	210	34	)	)	PUNCT
fsr-3185	210	35	for	for	ADP
fsr-3185	210	36	the	the	DET
fsr-3185	210	37	24	24	NUM
fsr-3185	210	38	month	month	NOUN
fsr-3185	210	39	horizon	horizon	NOUN
fsr-3185	210	40	.	.	PUNCT
fsr-3185	211	1	this	this	PRON
fsr-3185	211	2	implies	imply	VERB
fsr-3185	211	3	that	that	SCONJ
fsr-3185	211	4	risk	risk	NOUN
fsr-3185	211	5	premiums	premium	NOUN
fsr-3185	211	6	that	that	PRON
fsr-3185	211	7	can	can	AUX
fsr-3185	211	8	compensate	compensate	VERB
fsr-3185	211	9	for	for	ADP
fsr-3185	211	10	downside	downside	ADJ
fsr-3185	211	11	risk	risk	NOUN
fsr-3185	211	12	become	become	VERB
fsr-3185	211	13	increasingly	increasingly	ADV
fsr-3185	211	14	important	important	ADJ
fsr-3185	211	15	as	as	SCONJ
fsr-3185	211	16	the	the	DET
fsr-3185	211	17	time	time	NOUN
fsr-3185	211	18	horizon	horizon	NOUN
fsr-3185	211	19	increases	increase	NOUN
fsr-3185	211	20	.	.	PUNCT
fsr-3185	212	1	ang	ang	INTJ
fsr-3185	212	2	et	et	PROPN
fsr-3185	212	3	al	al	PROPN
fsr-3185	212	4	.	.	PROPN
fsr-3185	213	1	(	(	PUNCT
fsr-3185	213	2	2006	2006	NUM
fsr-3185	213	3	)	)	PUNCT
fsr-3185	213	4	show	show	VERB
fsr-3185	213	5	that	that	SCONJ
fsr-3185	213	6	cross	cross	ADJ
fsr-3185	213	7	-	-	ADJ
fsr-3185	213	8	sectional	sectional	ADJ
fsr-3185	213	9	stock	stock	NOUN
fsr-3185	213	10	returns	return	NOUN
fsr-3185	213	11	indicate	indicate	VERB
fsr-3185	213	12	evidence	evidence	NOUN
fsr-3185	213	13	of	of	ADP
fsr-3185	213	14	reflecting	reflect	VERB
fsr-3185	213	15	a	a	DET
fsr-3185	213	16	premium	premium	NOUN
fsr-3185	213	17	for	for	ADP
fsr-3185	213	18	downside	downside	ADJ
fsr-3185	213	19	risk	risk	NOUN
fsr-3185	213	20	as	as	SCONJ
fsr-3185	213	21	measured	measure	VERB
fsr-3185	213	22	by	by	ADP
fsr-3185	213	23	negative	negative	ADJ
fsr-3185	213	24	market	market	NOUN
fsr-3185	213	25	returns	return	NOUN
fsr-3185	213	26	because	because	SCONJ
fsr-3185	213	27	individuals	individual	NOUN
fsr-3185	213	28	place	place	VERB
fsr-3185	213	29	greater	great	ADJ
fsr-3185	213	30	emphasis	emphasis	NOUN
fsr-3185	213	31	on	on	ADP
fsr-3185	213	32	downside	downside	ADJ
fsr-3185	213	33	risk	risk	NOUN
fsr-3185	213	34	and	and	CCONJ
fsr-3185	213	35	less	less	ADJ
fsr-3185	213	36	emphasis	emphasis	NOUN
fsr-3185	213	37	on	on	ADP
fsr-3185	213	38	potential	potential	ADJ
fsr-3185	213	39	gains	gain	NOUN
fsr-3185	213	40	.	.	PUNCT
fsr-3185	214	1	further	far	ADV
fsr-3185	214	2	,	,	PUNCT
fsr-3185	214	3	they	they	PRON
fsr-3185	214	4	find	find	VERB
fsr-3185	214	5	that	that	SCONJ
fsr-3185	214	6	past	past	ADJ
fsr-3185	214	7	downside	downside	ADJ
fsr-3185	214	8	$	$	SYM
fsr-3185	214	9	has	have	AUX
fsr-3185	214	10	forecasting	forecast	VERB
fsr-3185	214	11	ability	ability	NOUN
fsr-3185	214	12	for	for	ADP
fsr-3185	214	13	future	future	ADJ
fsr-3185	214	14	stock	stock	NOUN
fsr-3185	214	15	returns	return	NOUN
fsr-3185	214	16	for	for	ADP
fsr-3185	214	17	most	most	ADJ
fsr-3185	214	18	of	of	ADP
fsr-3185	214	19	their	their	PRON
fsr-3185	214	20	cross	cross	ADJ
fsr-3185	214	21	-	-	ADJ
fsr-3185	214	22	sectional	sectional	ADJ
fsr-3185	214	23	sample	sample	NOUN
fsr-3185	214	24	.	.	PUNCT
fsr-3185	215	1	turning	turn	VERB
fsr-3185	215	2	our	our	PRON
fsr-3185	215	3	attention	attention	NOUN
fsr-3185	215	4	to	to	ADP
fsr-3185	215	5	upside	upside	ADV
fsr-3185	215	6	$	$	SYM
fsr-3185	215	7	s	s	NOUN
fsr-3185	215	8	(	(	PUNCT
fsr-3185	215	9	$	$	SYM
fsr-3185	215	10	!	!	PUNCT
fsr-3185	215	11	)	)	PUNCT
fsr-3185	215	12	,	,	PUNCT
fsr-3185	215	13	the	the	DET
fsr-3185	215	14	coefficients	coefficient	NOUN
fsr-3185	215	15	are	be	AUX
fsr-3185	215	16	not	not	PART
fsr-3185	215	17	equal	equal	ADJ
fsr-3185	215	18	in	in	ADP
fsr-3185	215	19	magnitude	magnitude	NOUN
fsr-3185	215	20	and	and	CCONJ
fsr-3185	215	21	are	be	AUX
fsr-3185	215	22	consistently	consistently	ADV
fsr-3185	215	23	smaller	small	ADJ
fsr-3185	215	24	compared	compare	VERB
fsr-3185	215	25	to	to	ADP
fsr-3185	215	26	the	the	DET
fsr-3185	215	27	downside	downside	NOUN
fsr-3185	215	28	$	$	SYM
fsr-3185	215	29	s	s	NOUN
fsr-3185	215	30	for	for	ADP
fsr-3185	215	31	all	all	DET
fsr-3185	215	32	horizons	horizon	NOUN
fsr-3185	215	33	studied	study	VERB
fsr-3185	215	34	.	.	PUNCT
fsr-3185	216	1	for	for	ADP
fsr-3185	216	2	the	the	DET
fsr-3185	216	3	five	five	NUM
fsr-3185	216	4	different	different	ADJ
fsr-3185	216	5	horizons	horizon	NOUN
fsr-3185	216	6	estimated	estimate	VERB
fsr-3185	216	7	,	,	PUNCT
fsr-3185	216	8	many	many	ADJ
fsr-3185	216	9	of	of	ADP
fsr-3185	216	10	the	the	DET
fsr-3185	216	11	$	$	SYM
fsr-3185	216	12	!	!	PUNCT
fsr-3185	216	13	coefficients	coefficient	NOUN
fsr-3185	216	14	are	be	AUX
fsr-3185	216	15	statistically	statistically	ADV
fsr-3185	216	16	insignificant	insignificant	ADJ
fsr-3185	216	17	,	,	PUNCT
fsr-3185	216	18	and	and	CCONJ
fsr-3185	216	19	in	in	ADP
fsr-3185	216	20	fact	fact	NOUN
fsr-3185	216	21	,	,	PUNCT
fsr-3185	216	22	only	only	ADV
fsr-3185	216	23	three	three	NUM
fsr-3185	216	24	are	be	AUX
fsr-3185	216	25	significant	significant	ADJ
fsr-3185	216	26	at	at	ADP
fsr-3185	216	27	the	the	DET
fsr-3185	216	28	5	5	NUM
fsr-3185	216	29	%	%	NOUN
fsr-3185	216	30	level	level	NOUN
fsr-3185	216	31	.	.	PUNCT
fsr-3185	217	1	akhtar	akhtar	PROPN
fsr-3185	217	2	et	et	PROPN
fsr-3185	217	3	al	al	PROPN
fsr-3185	217	4	.	.	PROPN
fsr-3185	218	1	(	(	PUNCT
fsr-3185	218	2	2011	2011	NUM
fsr-3185	218	3	)	)	PUNCT
fsr-3185	218	4	also	also	ADV
fsr-3185	218	5	report	report	VERB
fsr-3185	218	6	the	the	DET
fsr-3185	218	7	statistical	statistical	ADJ
fsr-3185	218	8	insignificance	insignificance	NOUN
fsr-3185	218	9	of	of	ADP
fsr-3185	218	10	the	the	DET
fsr-3185	218	11	upside	upside	ADJ
fsr-3185	218	12	$	$	SYM
fsr-3185	218	13	.	.	PUNCT
fsr-3185	219	1	an	an	DET
fsr-3185	219	2	interesting	interesting	ADJ
fsr-3185	219	3	observation	observation	NOUN
fsr-3185	219	4	regarding	regard	VERB
fsr-3185	219	5	the	the	DET
fsr-3185	219	6	$	$	SYM
fsr-3185	219	7	!	!	PUNCT
fsr-3185	219	8	coefficients	coefficient	NOUN
fsr-3185	219	9	is	be	AUX
fsr-3185	219	10	their	their	PRON
fsr-3185	219	11	declining	decline	VERB
fsr-3185	219	12	nature	nature	NOUN
fsr-3185	219	13	over	over	ADP
fsr-3185	219	14	the	the	DET
fsr-3185	219	15	forecasting	forecasting	NOUN
fsr-3185	219	16	horizons	horizon	NOUN
fsr-3185	219	17	.	.	PUNCT
fsr-3185	220	1	the	the	DET
fsr-3185	220	2	one	one	NUM
fsr-3185	220	3	month	month	NOUN
fsr-3185	220	4	forecast	forecast	NOUN
fsr-3185	220	5	horizon	horizon	NOUN
fsr-3185	220	6	magnitudes	magnitude	NOUN
fsr-3185	220	7	are	be	AUX
fsr-3185	220	8	0.303	0.303	NUM
fsr-3185	220	9	(	(	PUNCT
fsr-3185	220	10	ew	ew	NOUN
fsr-3185	220	11	returns	return	NOUN
fsr-3185	220	12	)	)	PUNCT
fsr-3185	220	13	and	and	CCONJ
fsr-3185	220	14	0.084	0.084	NUM
fsr-3185	220	15	(	(	PUNCT
fsr-3185	220	16	vw	vw	NOUN
fsr-3185	220	17	returns	return	NOUN
fsr-3185	220	18	)	)	PUNCT
fsr-3185	220	19	respectively	respectively	ADV
fsr-3185	220	20	,	,	PUNCT
fsr-3185	220	21	and	and	CCONJ
fsr-3185	220	22	when	when	SCONJ
fsr-3185	220	23	compared	compare	VERB
fsr-3185	220	24	to	to	ADP
fsr-3185	220	25	the	the	DET
fsr-3185	220	26	24	24	NUM
fsr-3185	220	27	month	month	NOUN
fsr-3185	220	28	forecast	forecast	NOUN
fsr-3185	220	29	horizon	horizon	NOUN
fsr-3185	220	30	,	,	PUNCT
fsr-3185	220	31	the	the	DET
fsr-3185	220	32	upside	upside	ADJ
fsr-3185	220	33	$	$	SYM
fsr-3185	220	34	coefficients	coefficient	NOUN
fsr-3185	220	35	are	be	AUX
fsr-3185	220	36	&	&	CCONJ
fsr-3185	220	37	0.493	0.493	NUM
fsr-3185	220	38	(	(	PUNCT
fsr-3185	220	39	ew	ew	NOUN
fsr-3185	220	40	returns	return	NOUN
fsr-3185	220	41	)	)	PUNCT
fsr-3185	220	42	and	and	CCONJ
fsr-3185	220	43	&	&	CCONJ
fsr-3185	220	44	1.070	1.070	NUM
fsr-3185	220	45	(	(	PUNCT
fsr-3185	220	46	vw	vw	NOUN
fsr-3185	220	47	returns	return	NOUN
fsr-3185	220	48	)	)	PUNCT
fsr-3185	220	49	.	.	PUNCT
fsr-3185	221	1	thus	thus	ADV
fsr-3185	221	2	,	,	PUNCT
fsr-3185	221	3	the	the	DET
fsr-3185	221	4	upside	upside	ADJ
fsr-3185	221	5	$	$	SYM
fsr-3185	221	6	magnitudes	magnitude	NOUN
fsr-3185	221	7	decrease	decrease	NOUN
fsr-3185	221	8	and	and	CCONJ
fsr-3185	221	9	even	even	ADV
fsr-3185	221	10	turn	turn	VERB
fsr-3185	221	11	negative	negative	ADJ
fsr-3185	221	12	as	as	ADP
fsr-3185	221	13	the	the	DET
fsr-3185	221	14	time	time	NOUN
fsr-3185	221	15	horizons	horizon	NOUN
fsr-3185	221	16	increase	increase	NOUN
fsr-3185	221	17	.	.	PUNCT
fsr-3185	222	1	the	the	DET
fsr-3185	222	2	results	result	NOUN
fsr-3185	222	3	imply	imply	VERB
fsr-3185	222	4	that	that	SCONJ
fsr-3185	222	5	as	as	SCONJ
fsr-3185	222	6	forecast	forecast	NOUN
fsr-3185	222	7	horizons	horizon	NOUN
fsr-3185	222	8	increase	increase	NOUN
fsr-3185	222	9	,	,	PUNCT
fsr-3185	222	10	upside	upside	ADJ
fsr-3185	222	11	potential	potential	NOUN
fsr-3185	222	12	becomes	become	VERB
fsr-3185	222	13	of	of	ADP
fsr-3185	222	14	less	less	ADJ
fsr-3185	222	15	importance	importance	NOUN
fsr-3185	222	16	,	,	PUNCT
fsr-3185	222	17	and	and	CCONJ
fsr-3185	222	18	even	even	ADV
fsr-3185	222	19	more	more	ADV
fsr-3185	222	20	so	so	ADV
fsr-3185	222	21	when	when	SCONJ
fsr-3185	222	22	compared	compare	VERB
fsr-3185	222	23	to	to	ADP
fsr-3185	222	24	downside	downside	ADJ
fsr-3185	222	25	risk	risk	NOUN
fsr-3185	222	26	.	.	PUNCT
fsr-3185	223	1	individuals	individual	NOUN
fsr-3185	223	2	start	start	VERB
fsr-3185	223	3	to	to	PART
fsr-3185	223	4	exhibit	exhibit	VERB
fsr-3185	223	5	behavior	behavior	NOUN
fsr-3185	223	6	that	that	PRON
fsr-3185	223	7	is	be	AUX
fsr-3185	223	8	consistent	consistent	ADJ
fsr-3185	223	9	with	with	ADP
fsr-3185	223	10	focusing	focus	VERB
fsr-3185	223	11	less	less	ADV
fsr-3185	223	12	on	on	ADP
fsr-3185	223	13	increasing	increase	VERB
fsr-3185	223	14	wealth	wealth	NOUN
fsr-3185	223	15	and	and	CCONJ
fsr-3185	223	16	more	more	ADV
fsr-3185	223	17	on	on	ADP
fsr-3185	223	18	not	not	PART
fsr-3185	223	19	losing	lose	VERB
fsr-3185	223	20	wealth	wealth	NOUN
fsr-3185	223	21	.	.	PUNCT
fsr-3185	224	1	when	when	SCONJ
fsr-3185	224	2	we	we	PRON
fsr-3185	224	3	test	test	VERB
fsr-3185	224	4	the	the	DET
fsr-3185	224	5	null	null	ADJ
fsr-3185	224	6	hypothesis	hypothesis	NOUN
fsr-3185	224	7	of	of	ADP
fsr-3185	224	8	$	$	SYM
fsr-3185	224	9	&	&	CCONJ
fsr-3185	224	10	%	%	NOUN
fsr-3185	224	11	$	$	SYM
fsr-3185	224	12	!	!	PUNCT
fsr-3185	225	1	for	for	ADP
fsr-3185	225	2	all	all	DET
fsr-3185	225	3	horizons	horizon	NOUN
fsr-3185	225	4	,	,	PUNCT
fsr-3185	225	5	we	we	PRON
fsr-3185	225	6	do	do	AUX
fsr-3185	225	7	not	not	PART
fsr-3185	225	8	reject	reject	VERB
fsr-3185	225	9	the	the	DET
fsr-3185	225	10	null	null	ADJ
fsr-3185	225	11	hypothesis	hypothesis	NOUN
fsr-3185	225	12	for	for	ADP
fsr-3185	225	13	the	the	DET
fsr-3185	225	14	majority	majority	NOUN
fsr-3185	225	15	of	of	ADP
fsr-3185	225	16	these	these	DET
fsr-3185	225	17	tests	test	NOUN
fsr-3185	225	18	.	.	PUNCT
fsr-3185	226	1	the	the	DET
fsr-3185	226	2	results	result	NOUN
fsr-3185	226	3	are	be	AUX
fsr-3185	226	4	because	because	SCONJ
fsr-3185	226	5	of	of	ADP
fsr-3185	226	6	the	the	DET
fsr-3185	226	7	statistical	statistical	ADJ
fsr-3185	226	8	insignificance	insignificance	NOUN
fsr-3185	226	9	of	of	ADP
fsr-3185	226	10	the	the	DET
fsr-3185	226	11	estimates	estimate	NOUN
fsr-3185	226	12	of	of	ADP
fsr-3185	226	13	$	$	SYM
fsr-3185	226	14	!	!	PUNCT
fsr-3185	227	1	and	and	CCONJ
fsr-3185	227	2	the	the	DET
fsr-3185	227	3	fact	fact	NOUN
fsr-3185	227	4	that	that	SCONJ
fsr-3185	227	5	the	the	DET
fsr-3185	227	6	denominators	denominator	NOUN
fsr-3185	227	7	of	of	ADP
fsr-3185	227	8	the	the	DET
fsr-3185	227	9	t	t	PROPN
fsr-3185	227	10	-	-	PUNCT
fsr-3185	227	11	statistics	statistic	NOUN
fsr-3185	227	12	tend	tend	VERB
fsr-3185	227	13	to	to	PART
fsr-3185	227	14	be	be	AUX
fsr-3185	227	15	large	large	ADJ
fsr-3185	227	16	relative	relative	ADJ
fsr-3185	227	17	to	to	ADP
fsr-3185	227	18	the	the	DET
fsr-3185	227	19	numerator	numerator	NOUN
fsr-3185	227	20	.	.	PUNCT
fsr-3185	228	1	however	however	ADV
fsr-3185	228	2	,	,	PUNCT
fsr-3185	228	3	this	this	PRON
fsr-3185	228	4	should	should	AUX
fsr-3185	228	5	not	not	PART
fsr-3185	228	6	undermine	undermine	VERB
fsr-3185	228	7	the	the	DET
fsr-3185	228	8	results	result	NOUN
fsr-3185	228	9	of	of	ADP
fsr-3185	228	10	our	our	PRON
fsr-3185	228	11	long	long	ADJ
fsr-3185	228	12	-	-	PUNCT
fsr-3185	228	13	horizon	horizon	NOUN
fsr-3185	228	14	asymmetric	asymmetric	ADJ
fsr-3185	228	15	regressions	regression	NOUN
fsr-3185	228	16	that	that	PRON
fsr-3185	228	17	show	show	VERB
fsr-3185	228	18	statistically	statistically	ADV
fsr-3185	228	19	significant	significant	ADJ
fsr-3185	228	20	downside	downside	ADJ
fsr-3185	228	21	$	$	SYM
fsr-3185	228	22	s	s	NOUN
fsr-3185	228	23	for	for	ADP
fsr-3185	228	24	all	all	DET
fsr-3185	228	25	cases	case	NOUN
fsr-3185	228	26	,	,	PUNCT
fsr-3185	228	27	and	and	CCONJ
fsr-3185	228	28	provides	provide	VERB
fsr-3185	228	29	support	support	NOUN
fsr-3185	228	30	to	to	ADP
fsr-3185	228	31	the	the	DET
fsr-3185	228	32	concepts	concept	NOUN
fsr-3185	228	33	of	of	ADP
fsr-3185	228	34	the	the	DET
fsr-3185	228	35	prospect	prospect	NOUN
fsr-3185	228	36	theory	theory	NOUN
fsr-3185	228	37	.	.	PUNCT
fsr-3185	229	1	akhtar	akhtar	PROPN
fsr-3185	229	2	et	et	PROPN
fsr-3185	229	3	al	al	PROPN
fsr-3185	229	4	.	.	PROPN
fsr-3185	230	1	(	(	PUNCT
fsr-3185	230	2	2011	2011	NUM
fsr-3185	230	3	)	)	PUNCT
fsr-3185	230	4	state	state	NOUN
fsr-3185	230	5	54	54	NUM
fsr-3185	230	6	m.a	m.a	PROPN
fsr-3185	230	7	.	.	PROPN
fsr-3185	230	8	johnson	johnson	PROPN
fsr-3185	230	9	,	,	PUNCT
fsr-3185	230	10	a.	a.	PROPN
fsr-3185	230	11	naka	naka	PROPN
fsr-3185	230	12	/	/	SYM
fsr-3185	230	13	financial	financial	ADJ
fsr-3185	230	14	services	service	NOUN
fsr-3185	230	15	review	review	VERB
fsr-3185	230	16	23	23	NUM
fsr-3185	230	17	(	(	PUNCT
fsr-3185	230	18	2014	2014	NUM
fsr-3185	230	19	)	)	PUNCT
fsr-3185	230	20	45–61	45–61	NUM
fsr-3185	230	21	that	that	DET
fsr-3185	230	22	negative	negative	ADJ
fsr-3185	230	23	(	(	PUNCT
fsr-3185	230	24	positive	positive	ADJ
fsr-3185	230	25	)	)	PUNCT
fsr-3185	230	26	consumer	consumer	NOUN
fsr-3185	230	27	sentiment	sentiment	NOUN
fsr-3185	230	28	news	news	NOUN
fsr-3185	230	29	will	will	AUX
fsr-3185	230	30	induce	induce	VERB
fsr-3185	230	31	a	a	DET
fsr-3185	230	32	negative	negative	ADJ
fsr-3185	230	33	(	(	PUNCT
fsr-3185	230	34	zero	zero	NUM
fsr-3185	230	35	)	)	PUNCT
fsr-3185	230	36	stock	stock	NOUN
fsr-3185	230	37	market	market	NOUN
fsr-3185	230	38	reaction	reaction	NOUN
fsr-3185	230	39	.	.	PUNCT
fsr-3185	231	1	as	as	ADP
fsr-3185	231	2	a	a	DET
fsr-3185	231	3	result	result	NOUN
fsr-3185	231	4	,	,	PUNCT
fsr-3185	231	5	they	they	PRON
fsr-3185	231	6	hypothesize	hypothesize	VERB
fsr-3185	231	7	that	that	SCONJ
fsr-3185	231	8	the	the	DET
fsr-3185	231	9	coefficient	coefficient	NOUN
fsr-3185	231	10	for	for	ADP
fsr-3185	231	11	the	the	DET
fsr-3185	231	12	negative	negative	ADJ
fsr-3185	231	13	change	change	NOUN
fsr-3185	231	14	in	in	ADP
fsr-3185	231	15	sentiment	sentiment	NOUN
fsr-3185	231	16	would	would	AUX
fsr-3185	231	17	be	be	AUX
fsr-3185	231	18	negative	negative	ADJ
fsr-3185	231	19	,	,	PUNCT
fsr-3185	231	20	and	and	CCONJ
fsr-3185	231	21	their	their	PRON
fsr-3185	231	22	baseline	baseline	NOUN
fsr-3185	231	23	regression	regression	NOUN
fsr-3185	231	24	results	result	NOUN
fsr-3185	231	25	support	support	VERB
fsr-3185	231	26	this	this	DET
fsr-3185	231	27	hypothesis	hypothesis	NOUN
fsr-3185	231	28	.	.	PUNCT
fsr-3185	232	1	because	because	SCONJ
fsr-3185	232	2	their	their	PRON
fsr-3185	232	3	estimated	estimate	VERB
fsr-3185	232	4	coefficient	coefficient	NOUN
fsr-3185	232	5	on	on	ADP
fsr-3185	232	6	the	the	DET
fsr-3185	232	7	positive	positive	ADJ
fsr-3185	232	8	change	change	NOUN
fsr-3185	232	9	in	in	ADP
fsr-3185	232	10	sentiment	sentiment	NOUN
fsr-3185	232	11	variable	variable	NOUN
fsr-3185	232	12	is	be	AUX
fsr-3185	232	13	not	not	PART
fsr-3185	232	14	significant	significant	ADJ
fsr-3185	232	15	,	,	PUNCT
fsr-3185	232	16	they	they	PRON
fsr-3185	232	17	argue	argue	VERB
fsr-3185	232	18	that	that	SCONJ
fsr-3185	232	19	the	the	DET
fsr-3185	232	20	result	result	NOUN
fsr-3185	232	21	provides	provide	VERB
fsr-3185	232	22	more	more	ADJ
fsr-3185	232	23	support	support	NOUN
fsr-3185	232	24	for	for	ADP
fsr-3185	232	25	the	the	DET
fsr-3185	232	26	negativity	negativity	ADJ
fsr-3185	232	27	effect	effect	NOUN
fsr-3185	232	28	hypothesis	hypothesis	NOUN
fsr-3185	232	29	.	.	PUNCT
fsr-3185	233	1	however	however	ADV
fsr-3185	233	2	,	,	PUNCT
fsr-3185	233	3	if	if	SCONJ
fsr-3185	233	4	investors	investor	NOUN
fsr-3185	233	5	are	be	AUX
fsr-3185	233	6	averse	averse	ADJ
fsr-3185	233	7	to	to	ADP
fsr-3185	233	8	downside	downside	ADJ
fsr-3185	233	9	risk	risk	NOUN
fsr-3185	233	10	,	,	PUNCT
fsr-3185	233	11	the	the	DET
fsr-3185	233	12	coefficient	coefficient	NOUN
fsr-3185	233	13	for	for	ADP
fsr-3185	233	14	downside	downside	ADJ
fsr-3185	233	15	$	$	NOUN
fsr-3185	233	16	would	would	AUX
fsr-3185	233	17	be	be	AUX
fsr-3185	233	18	positive	positive	ADJ
fsr-3185	233	19	because	because	SCONJ
fsr-3185	233	20	of	of	ADP
fsr-3185	233	21	the	the	DET
fsr-3185	233	22	idea	idea	NOUN
fsr-3185	233	23	that	that	SCONJ
fsr-3185	233	24	a	a	DET
fsr-3185	233	25	higher	high	ADJ
fsr-3185	233	26	downside	downside	ADJ
fsr-3185	233	27	risk	risk	NOUN
fsr-3185	233	28	would	would	AUX
fsr-3185	233	29	correspond	correspond	VERB
fsr-3185	233	30	to	to	ADP
fsr-3185	233	31	higher	high	ADJ
fsr-3185	233	32	returns	return	NOUN
fsr-3185	233	33	.	.	PUNCT
fsr-3185	234	1	furthermore	furthermore	ADV
fsr-3185	234	2	,	,	PUNCT
fsr-3185	234	3	we	we	PRON
fsr-3185	234	4	find	find	VERB
fsr-3185	234	5	that	that	SCONJ
fsr-3185	234	6	as	as	ADP
fsr-3185	234	7	the	the	DET
fsr-3185	234	8	forecast	forecast	NOUN
fsr-3185	234	9	horizon	horizon	NOUN
fsr-3185	234	10	increases	increase	NOUN
fsr-3185	234	11	,	,	PUNCT
fsr-3185	234	12	the	the	DET
fsr-3185	234	13	magnitudes	magnitude	NOUN
fsr-3185	234	14	of	of	ADP
fsr-3185	234	15	the	the	DET
fsr-3185	234	16	downside	downside	ADJ
fsr-3185	234	17	$	$	SYM
fsr-3185	234	18	s	s	PART
fsr-3185	234	19	increase	increase	NOUN
fsr-3185	234	20	while	while	SCONJ
fsr-3185	234	21	the	the	DET
fsr-3185	234	22	magnitudes	magnitude	NOUN
fsr-3185	234	23	of	of	ADP
fsr-3185	234	24	the	the	DET
fsr-3185	234	25	upside	upside	ADJ
fsr-3185	235	1	$	$	SYM
fsr-3185	235	2	s	s	PART
fsr-3185	235	3	decrease	decrease	NOUN
fsr-3185	235	4	.	.	PUNCT
fsr-3185	236	1	this	this	DET
fsr-3185	236	2	divergence	divergence	NOUN
fsr-3185	236	3	between	between	ADP
fsr-3185	236	4	the	the	DET
fsr-3185	236	5	general	general	ADJ
fsr-3185	236	6	trends	trend	NOUN
fsr-3185	236	7	of	of	ADP
fsr-3185	236	8	these	these	DET
fsr-3185	236	9	coefficients	coefficient	NOUN
fsr-3185	236	10	shows	show	VERB
fsr-3185	236	11	an	an	DET
fsr-3185	236	12	increasing	increase	VERB
fsr-3185	236	13	importance	importance	NOUN
fsr-3185	236	14	of	of	ADP
fsr-3185	236	15	downside	downside	ADJ
fsr-3185	236	16	risk	risk	NOUN
fsr-3185	236	17	to	to	ADP
fsr-3185	236	18	investors	investor	NOUN
fsr-3185	236	19	,	,	PUNCT
fsr-3185	236	20	individual	individual	ADJ
fsr-3185	236	21	and	and	CCONJ
fsr-3185	236	22	institutional	institutional	ADJ
fsr-3185	236	23	,	,	PUNCT
fsr-3185	236	24	over	over	ADP
fsr-3185	236	25	time	time	NOUN
fsr-3185	236	26	.	.	PUNCT
fsr-3185	237	1	we	we	PRON
fsr-3185	237	2	now	now	ADV
fsr-3185	237	3	turn	turn	VERB
fsr-3185	237	4	our	our	PRON
fsr-3185	237	5	attention	attention	NOUN
fsr-3185	237	6	to	to	ADP
fsr-3185	237	7	shedding	shed	VERB
fsr-3185	237	8	light	light	NOUN
fsr-3185	237	9	on	on	ADP
fsr-3185	237	10	the	the	DET
fsr-3185	237	11	life	life	NOUN
fsr-3185	237	12	cycle	cycle	NOUN
fsr-3185	237	13	investment	investment	NOUN
fsr-3185	237	14	hypothesis	hypothesis	NOUN
fsr-3185	237	15	by	by	ADP
fsr-3185	237	16	incorporating	incorporate	VERB
fsr-3185	237	17	the	the	DET
fsr-3185	237	18	changes	change	NOUN
fsr-3185	237	19	in	in	ADP
fsr-3185	237	20	sentiment	sentiment	NOUN
fsr-3185	237	21	of	of	ADP
fsr-3185	237	22	different	different	ADJ
fsr-3185	237	23	age	age	NOUN
fsr-3185	237	24	groups	group	NOUN
fsr-3185	237	25	.	.	PUNCT
fsr-3185	238	1	panel	panel	NOUN
fsr-3185	238	2	a	a	DET
fsr-3185	238	3	of	of	ADP
fsr-3185	238	4	table	table	NOUN
fsr-3185	238	5	4	4	NUM
fsr-3185	238	6	presents	present	VERB
fsr-3185	238	7	the	the	DET
fsr-3185	238	8	empirical	empirical	ADJ
fsr-3185	238	9	results	result	NOUN
fsr-3185	238	10	of	of	ADP
fsr-3185	238	11	eq	eq	PROPN
fsr-3185	238	12	.	.	PUNCT
fsr-3185	239	1	(	(	PUNCT
fsr-3185	239	2	2	2	NUM
fsr-3185	239	3	)	)	PUNCT
fsr-3185	239	4	for	for	ADP
fsr-3185	239	5	the	the	DET
fsr-3185	239	6	csi	csi	PROPN
fsr-3185	239	7	index	index	NOUN
fsr-3185	239	8	of	of	ADP
fsr-3185	239	9	individuals	individual	NOUN
fsr-3185	239	10	18	18	NUM
fsr-3185	239	11	to	to	PART
fsr-3185	239	12	34	34	NUM
fsr-3185	239	13	years	year	NOUN
fsr-3185	239	14	old	old	ADJ
fsr-3185	239	15	.	.	PUNCT
fsr-3185	240	1	focusing	focus	VERB
fsr-3185	240	2	on	on	ADP
fsr-3185	240	3	the	the	DET
fsr-3185	240	4	downside	downside	NOUN
fsr-3185	240	5	$	$	SYM
fsr-3185	240	6	for	for	ADP
fsr-3185	240	7	this	this	DET
fsr-3185	240	8	youngest	young	ADJ
fsr-3185	240	9	age	age	NOUN
fsr-3185	240	10	group	group	NOUN
fsr-3185	240	11	that	that	PRON
fsr-3185	240	12	we	we	PRON
fsr-3185	240	13	study	study	VERB
fsr-3185	240	14	,	,	PUNCT
fsr-3185	240	15	we	we	PRON
fsr-3185	240	16	observe	observe	VERB
fsr-3185	240	17	that	that	SCONJ
fsr-3185	240	18	$	$	SYM
fsr-3185	240	19	&	&	CCONJ
fsr-3185	240	20	has	have	VERB
fsr-3185	240	21	the	the	DET
fsr-3185	240	22	expected	expect	VERB
fsr-3185	240	23	positive	positive	ADJ
fsr-3185	240	24	sign	sign	NOUN
fsr-3185	240	25	and	and	CCONJ
fsr-3185	240	26	is	be	AUX
fsr-3185	240	27	statistically	statistically	ADV
fsr-3185	240	28	significant	significant	ADJ
fsr-3185	240	29	at	at	ADP
fsr-3185	240	30	the	the	DET
fsr-3185	240	31	1	1	NUM
fsr-3185	240	32	%	%	NOUN
fsr-3185	240	33	or	or	CCONJ
fsr-3185	240	34	5	5	NUM
fsr-3185	240	35	%	%	NOUN
fsr-3185	240	36	level	level	NOUN
fsr-3185	240	37	of	of	ADP
fsr-3185	240	38	significance	significance	NOUN
fsr-3185	240	39	in	in	ADP
fsr-3185	240	40	the	the	DET
fsr-3185	240	41	majority	majority	NOUN
fsr-3185	240	42	of	of	ADP
fsr-3185	240	43	the	the	DET
fsr-3185	240	44	one	one	NUM
fsr-3185	240	45	,	,	PUNCT
fsr-3185	240	46	three	three	NUM
fsr-3185	240	47	,	,	PUNCT
fsr-3185	240	48	and	and	CCONJ
fsr-3185	240	49	six	six	NUM
fsr-3185	240	50	month	month	NOUN
fsr-3185	240	51	forecast	forecast	NOUN
fsr-3185	240	52	horizons	horizon	NOUN
fsr-3185	240	53	.	.	PUNCT
fsr-3185	241	1	however	however	ADV
fsr-3185	241	2	,	,	PUNCT
fsr-3185	241	3	we	we	PRON
fsr-3185	241	4	do	do	AUX
fsr-3185	241	5	not	not	PART
fsr-3185	241	6	observe	observe	VERB
fsr-3185	241	7	in	in	ADP
fsr-3185	241	8	table	table	NOUN
fsr-3185	241	9	4	4	NUM
fsr-3185	241	10	an	an	DET
fsr-3185	241	11	increasing	increase	VERB
fsr-3185	241	12	tendency	tendency	NOUN
fsr-3185	241	13	of	of	ADP
fsr-3185	241	14	the	the	DET
fsr-3185	241	15	downside	downside	ADJ
fsr-3185	241	16	$	$	SYM
fsr-3185	241	17	coefficients	coefficient	NOUN
fsr-3185	241	18	as	as	SCONJ
fsr-3185	241	19	we	we	PRON
fsr-3185	241	20	presented	present	VERB
fsr-3185	241	21	in	in	ADP
fsr-3185	241	22	table	table	NOUN
fsr-3185	241	23	3	3	NUM
fsr-3185	241	24	when	when	SCONJ
fsr-3185	241	25	the	the	DET
fsr-3185	241	26	forecast	forecast	NOUN
fsr-3185	241	27	horizon	horizon	NOUN
fsr-3185	241	28	increases	increase	NOUN
fsr-3185	241	29	,	,	PUNCT
fsr-3185	241	30	implying	imply	VERB
fsr-3185	241	31	that	that	DET
fsr-3185	241	32	aversion	aversion	NOUN
fsr-3185	241	33	to	to	ADP
fsr-3185	241	34	losses	loss	NOUN
fsr-3185	241	35	among	among	ADP
fsr-3185	241	36	younger	young	ADJ
fsr-3185	241	37	individuals	individual	NOUN
fsr-3185	241	38	does	do	AUX
fsr-3185	241	39	not	not	PART
fsr-3185	241	40	necessarily	necessarily	ADV
fsr-3185	241	41	increase	increase	VERB
fsr-3185	241	42	over	over	ADP
fsr-3185	241	43	longer	long	ADJ
fsr-3185	241	44	periods	period	NOUN
fsr-3185	241	45	with	with	ADP
fsr-3185	241	46	respect	respect	NOUN
fsr-3185	241	47	to	to	ADP
fsr-3185	241	48	excess	excess	ADJ
fsr-3185	241	49	market	market	NOUN
fsr-3185	241	50	table	table	NOUN
fsr-3185	241	51	3	3	NUM
fsr-3185	241	52	asymmetric	asymmetric	ADJ
fsr-3185	241	53	response	response	NOUN
fsr-3185	241	54	model	model	NOUN
fsr-3185	241	55	:	:	PUNCT
fsr-3185	241	56	csi	csi	ADJ
fsr-3185	241	57	composite	composite	ADJ
fsr-3185	241	58	dependent	dependent	ADJ
fsr-3185	241	59	variable	variable	ADJ
fsr-3185	241	60	forecast	forecast	NOUN
fsr-3185	241	61	horizon	horizon	NOUN
fsr-3185	241	62	(	(	PUNCT
fsr-3185	241	63	k	k	NOUN
fsr-3185	241	64	)	)	PUNCT
fsr-3185	241	65	1	1	NUM
fsr-3185	241	66	3	3	NUM
fsr-3185	241	67	6	6	NUM
fsr-3185	241	68	12	12	NUM
fsr-3185	241	69	24	24	NUM
fsr-3185	241	70	ew	ew	NOUN
fsr-3185	241	71	returns	return	NOUN
fsr-3185	241	72	vw	vw	PROPN
fsr-3185	241	73	returns	return	NOUN
fsr-3185	241	74	ew	ew	INTJ
fsr-3185	241	75	returns	return	NOUN
fsr-3185	241	76	vw	vw	PROPN
fsr-3185	241	77	returns	return	NOUN
fsr-3185	241	78	ew	ew	INTJ
fsr-3185	241	79	returns	return	NOUN
fsr-3185	241	80	vw	vw	PROPN
fsr-3185	241	81	returns	return	NOUN
fsr-3185	241	82	ew	ew	INTJ
fsr-3185	241	83	returns	return	NOUN
fsr-3185	241	84	vw	vw	PROPN
fsr-3185	241	85	returns	return	NOUN
fsr-3185	241	86	ew	ew	INTJ
fsr-3185	241	87	returns	return	NOUN
fsr-3185	241	88	vw	vw	PROPN
fsr-3185	241	89	returns	return	NOUN
fsr-3185	241	90	intercept	intercept	VERB
fsr-3185	241	91	#	#	SYM
fsr-3185	241	92	i	i	NOUN
fsr-3185	241	93	0.009	0.009	NUM
fsr-3185	241	94	0.008	0.008	NUM
fsr-3185	241	95	0.025	0.025	NUM
fsr-3185	241	96	0.021	0.021	NUM
fsr-3185	241	97	0.048	0.048	NUM
fsr-3185	241	98	0.035	0.035	NUM
fsr-3185	241	99	0.099	0.099	NUM
fsr-3185	241	100	0.073	0.073	NUM
fsr-3185	241	101	0.168	0.168	NUM
fsr-3185	241	102	0.115	0.115	NUM
fsr-3185	241	103	se	se	X
fsr-3185	241	104	(	(	PUNCT
fsr-3185	241	105	0.004	0.004	NUM
fsr-3185	241	106	)	)	PUNCT
fsr-3185	241	107	(	(	PUNCT
fsr-3185	241	108	0.003	0.003	NUM
fsr-3185	241	109	)	)	PUNCT
fsr-3185	241	110	(	(	PUNCT
fsr-3185	241	111	0.009	0.009	NUM
fsr-3185	241	112	)	)	PUNCT
fsr-3185	241	113	(	(	PUNCT
fsr-3185	241	114	0.007	0.007	NUM
fsr-3185	241	115	)	)	PUNCT
fsr-3185	241	116	(	(	PUNCT
fsr-3185	241	117	0.015	0.015	NUM
fsr-3185	241	118	)	)	PUNCT
fsr-3185	241	119	(	(	PUNCT
fsr-3185	241	120	0.012	0.012	NUM
fsr-3185	241	121	)	)	PUNCT
fsr-3185	241	122	(	(	PUNCT
fsr-3185	241	123	0.024	0.024	NUM
fsr-3185	241	124	)	)	PUNCT
fsr-3185	241	125	(	(	PUNCT
fsr-3185	241	126	0.019	0.019	NUM
fsr-3185	241	127	)	)	PUNCT
fsr-3185	241	128	(	(	PUNCT
fsr-3185	241	129	0.027	0.027	NUM
fsr-3185	241	130	)	)	PUNCT
fsr-3185	241	131	(	(	PUNCT
fsr-3185	241	132	0.028	0.028	NUM
fsr-3185	241	133	)	)	PUNCT
fsr-3185	241	134	p	p	NOUN
fsr-3185	241	135	value	value	NOUN
fsr-3185	241	136	[	[	X
fsr-3185	241	137	0.041	0.041	NUM
fsr-3185	241	138	]	]	PUNCT
fsr-3185	242	1	[	[	X
fsr-3185	242	2	0.018	0.018	NUM
fsr-3185	242	3	]	]	PUNCT
fsr-3185	242	4	[	[	X
fsr-3185	242	5	0.006	0.006	NUM
fsr-3185	242	6	]	]	PUNCT
fsr-3185	243	1	[	[	X
fsr-3185	243	2	0.001	0.001	NUM
fsr-3185	243	3	]	]	X
fsr-3185	244	1	[	[	X
fsr-3185	244	2	0.002	0.002	NUM
fsr-3185	244	3	]	]	PUNCT
fsr-3185	245	1	[	[	X
fsr-3185	245	2	0.004	0.004	X
fsr-3185	245	3	]	]	PUNCT
fsr-3185	246	1	[	[	X
fsr-3185	246	2	0.000	0.000	X
fsr-3185	246	3	]	]	X
fsr-3185	247	1	[	[	X
fsr-3185	247	2	0.000	0.000	X
fsr-3185	247	3	]	]	X
fsr-3185	248	1	[	[	X
fsr-3185	248	2	0.000	0.000	X
fsr-3185	248	3	]	]	X
fsr-3185	249	1	[	[	X
fsr-3185	249	2	0.000	0.000	X
fsr-3185	249	3	]	]	X
fsr-3185	249	4	slope	slope	NOUN
fsr-3185	249	5	$	$	SYM
fsr-3185	249	6	&	&	CCONJ
fsr-3185	249	7	1	1	NUM
fsr-3185	249	8	0.428	0.428	NUM
fsr-3185	249	9	0.338	0.338	NUM
fsr-3185	249	10	0.907	0.907	NUM
fsr-3185	249	11	0.862	0.862	NUM
fsr-3185	249	12	0.937	0.937	NUM
fsr-3185	249	13	0.892	0.892	NUM
fsr-3185	249	14	1.216	1.216	NUM
fsr-3185	249	15	1.324	1.324	NUM
fsr-3185	249	16	1.319	1.319	NUM
fsr-3185	249	17	1.463	1.463	NUM
fsr-3185	249	18	se	se	X
fsr-3185	249	19	(	(	PUNCT
fsr-3185	249	20	0.150	0.150	NUM
fsr-3185	249	21	)	)	PUNCT
fsr-3185	249	22	(	(	PUNCT
fsr-3185	249	23	0.129	0.129	NUM
fsr-3185	249	24	)	)	PUNCT
fsr-3185	249	25	(	(	PUNCT
fsr-3185	249	26	0.239	0.239	NUM
fsr-3185	249	27	)	)	PUNCT
fsr-3185	249	28	(	(	PUNCT
fsr-3185	249	29	0.190	0.190	NUM
fsr-3185	249	30	)	)	PUNCT
fsr-3185	249	31	(	(	PUNCT
fsr-3185	249	32	0.357	0.357	NUM
fsr-3185	249	33	)	)	PUNCT
fsr-3185	249	34	(	(	PUNCT
fsr-3185	249	35	0.286	0.286	NUM
fsr-3185	249	36	)	)	PUNCT
fsr-3185	249	37	(	(	PUNCT
fsr-3185	249	38	0.552	0.552	NUM
fsr-3185	249	39	)	)	PUNCT
fsr-3185	249	40	(	(	PUNCT
fsr-3185	249	41	0.401	0.401	NUM
fsr-3185	249	42	)	)	PUNCT
fsr-3185	249	43	(	(	PUNCT
fsr-3185	249	44	0.658	0.658	NUM
fsr-3185	249	45	)	)	PUNCT
fsr-3185	249	46	(	(	PUNCT
fsr-3185	249	47	0.461	0.461	NUM
fsr-3185	249	48	)	)	PUNCT
fsr-3185	249	49	p	p	NOUN
fsr-3185	249	50	value	value	NOUN
fsr-3185	249	51	[	[	X
fsr-3185	249	52	0.005	0.005	NUM
fsr-3185	249	53	]	]	PUNCT
fsr-3185	250	1	[	[	X
fsr-3185	250	2	0.009	0.009	NUM
fsr-3185	250	3	]	]	X
fsr-3185	251	1	[	[	X
fsr-3185	251	2	0.000	0.000	X
fsr-3185	251	3	]	]	X
fsr-3185	252	1	[	[	X
fsr-3185	252	2	0.000	0.000	X
fsr-3185	252	3	]	]	X
fsr-3185	253	1	[	[	X
fsr-3185	253	2	0.009	0.009	NUM
fsr-3185	253	3	]	]	X
fsr-3185	254	1	[	[	X
fsr-3185	254	2	0.002	0.002	NUM
fsr-3185	254	3	]	]	PUNCT
fsr-3185	254	4	[	[	X
fsr-3185	254	5	0.028	0.028	NUM
fsr-3185	254	6	]	]	X
fsr-3185	254	7	[	[	X
fsr-3185	254	8	0.001	0.001	NUM
fsr-3185	254	9	]	]	X
fsr-3185	254	10	[	[	X
fsr-3185	254	11	0.046	0.046	NUM
fsr-3185	254	12	]	]	PUNCT
fsr-3185	254	13	[	[	X
fsr-3185	254	14	0.002	0.002	NUM
fsr-3185	254	15	]	]	PUNCT
fsr-3185	254	16	slope	slope	NOUN
fsr-3185	254	17	$	$	SYM
fsr-3185	254	18	!	!	PUNCT
fsr-3185	255	1	0.303	0.303	NUM
fsr-3185	255	2	0.084	0.084	NUM
fsr-3185	255	3	0.584	0.584	NUM
fsr-3185	255	4	0.243	0.243	NUM
fsr-3185	255	5	0.370	0.370	NUM
fsr-3185	255	6	0.014	0.014	NUM
fsr-3185	255	7	&	&	CCONJ
fsr-3185	255	8	0.152	0.152	NUM
fsr-3185	255	9	&	&	CCONJ
fsr-3185	255	10	0.621	0.621	NUM
fsr-3185	255	11	&	&	CCONJ
fsr-3185	255	12	0.493	0.493	NUM
fsr-3185	255	13	&	&	CCONJ
fsr-3185	255	14	1.070	1.070	NUM
fsr-3185	255	15	se	se	X
fsr-3185	255	16	(	(	PUNCT
fsr-3185	255	17	0.106	0.106	NUM
fsr-3185	255	18	)	)	PUNCT
fsr-3185	255	19	(	(	PUNCT
fsr-3185	255	20	0.082	0.082	NUM
fsr-3185	255	21	)	)	PUNCT
fsr-3185	255	22	(	(	PUNCT
fsr-3185	255	23	0.212	0.212	NUM
fsr-3185	255	24	)	)	PUNCT
fsr-3185	255	25	(	(	PUNCT
fsr-3185	255	26	0.151	0.151	NUM
fsr-3185	255	27	)	)	PUNCT
fsr-3185	255	28	(	(	PUNCT
fsr-3185	255	29	0.295	0.295	NUM
fsr-3185	255	30	)	)	PUNCT
fsr-3185	255	31	(	(	PUNCT
fsr-3185	255	32	0.229	0.229	NUM
fsr-3185	255	33	)	)	PUNCT
fsr-3185	255	34	(	(	PUNCT
fsr-3185	255	35	0.445	0.445	NUM
fsr-3185	255	36	)	)	PUNCT
fsr-3185	255	37	(	(	PUNCT
fsr-3185	255	38	0.355	0.355	NUM
fsr-3185	255	39	)	)	PUNCT
fsr-3185	255	40	(	(	PUNCT
fsr-3185	255	41	0.560	0.560	NUM
fsr-3185	255	42	)	)	PUNCT
fsr-3185	255	43	(	(	PUNCT
fsr-3185	255	44	0.442	0.442	NUM
fsr-3185	255	45	)	)	PUNCT
fsr-3185	255	46	p	p	NOUN
fsr-3185	255	47	value	value	NOUN
fsr-3185	255	48	[	[	X
fsr-3185	255	49	0.004	0.004	X
fsr-3185	255	50	]	]	PUNCT
fsr-3185	256	1	[	[	X
fsr-3185	256	2	0.303	0.303	NUM
fsr-3185	256	3	]	]	PUNCT
fsr-3185	257	1	[	[	X
fsr-3185	257	2	0.006	0.006	NUM
fsr-3185	257	3	]	]	PUNCT
fsr-3185	258	1	[	[	X
fsr-3185	258	2	0.109	0.109	NUM
fsr-3185	258	3	]	]	PUNCT
fsr-3185	259	1	[	[	X
fsr-3185	259	2	0.210	0.210	X
fsr-3185	259	3	]	]	PUNCT
fsr-3185	260	1	[	[	X
fsr-3185	260	2	0.950	0.950	X
fsr-3185	260	3	]	]	X
fsr-3185	260	4	[	[	X
fsr-3185	260	5	0.733	0.733	NUM
fsr-3185	260	6	]	]	X
fsr-3185	261	1	[	[	X
fsr-3185	261	2	0.081	0.081	NUM
fsr-3185	261	3	]	]	X
fsr-3185	261	4	[	[	X
fsr-3185	261	5	0.380	0.380	X
fsr-3185	261	6	]	]	PUNCT
fsr-3185	261	7	[	[	X
fsr-3185	261	8	0.016	0.016	NUM
fsr-3185	261	9	]	]	X
fsr-3185	261	10	r2	r2	PROPN
fsr-3185	261	11	0.105	0.105	NUM
fsr-3185	261	12	0.058	0.058	NUM
fsr-3185	261	13	0.111	0.111	NUM
fsr-3185	261	14	0.118	0.118	NUM
fsr-3185	261	15	0.043	0.043	NUM
fsr-3185	261	16	0.048	0.048	NUM
fsr-3185	261	17	0.025	0.025	NUM
fsr-3185	261	18	0.046	0.046	NUM
fsr-3185	261	19	0.021	0.021	NUM
fsr-3185	261	20	0.040	0.040	NUM
fsr-3185	261	21	note	note	NOUN
fsr-3185	261	22	.	.	PUNCT
fsr-3185	262	1	this	this	DET
fsr-3185	262	2	table	table	NOUN
fsr-3185	262	3	represents	represent	VERB
fsr-3185	262	4	long	long	ADJ
fsr-3185	262	5	-	-	PUNCT
fsr-3185	262	6	horizon	horizon	NOUN
fsr-3185	262	7	ordinary	ordinary	ADJ
fsr-3185	262	8	least	least	ADJ
fsr-3185	262	9	square	square	ADJ
fsr-3185	262	10	regressions	regression	NOUN
fsr-3185	262	11	of	of	ADP
fsr-3185	262	12	asymmetric	asymmetric	ADJ
fsr-3185	262	13	response	response	NOUN
fsr-3185	262	14	model	model	NOUN
fsr-3185	262	15	incorporating	incorporate	VERB
fsr-3185	262	16	changes	change	NOUN
fsr-3185	262	17	in	in	ADP
fsr-3185	262	18	consumer	consumer	NOUN
fsr-3185	262	19	sentiment	sentiment	NOUN
fsr-3185	262	20	.	.	PUNCT
fsr-3185	263	1	k	k	PROPN
fsr-3185	263	2	stands	stand	VERB
fsr-3185	263	3	for	for	ADP
fsr-3185	263	4	monthly	monthly	ADJ
fsr-3185	263	5	cumulated	cumulated	ADJ
fsr-3185	263	6	k	k	PROPN
fsr-3185	263	7	horizon	horizon	NOUN
fsr-3185	263	8	returns	return	NOUN
fsr-3185	263	9	and	and	CCONJ
fsr-3185	263	10	when	when	SCONJ
fsr-3185	263	11	k	k	PROPN
fsr-3185	263	12	is	be	AUX
fsr-3185	263	13	greater	great	ADJ
fsr-3185	263	14	than	than	ADP
fsr-3185	263	15	one	one	NUM
fsr-3185	263	16	,	,	PUNCT
fsr-3185	263	17	the	the	DET
fsr-3185	263	18	regressions	regression	NOUN
fsr-3185	263	19	use	use	VERB
fsr-3185	263	20	overlapping	overlap	VERB
fsr-3185	263	21	monthly	monthly	ADJ
fsr-3185	263	22	data	datum	NOUN
fsr-3185	263	23	.	.	PUNCT
fsr-3185	264	1	the	the	DET
fsr-3185	264	2	dependent	dependent	ADJ
fsr-3185	264	3	variable	variable	NOUN
fsr-3185	264	4	is	be	AUX
fsr-3185	264	5	the	the	DET
fsr-3185	264	6	excess	excess	ADJ
fsr-3185	264	7	return	return	NOUN
fsr-3185	264	8	of	of	ADP
fsr-3185	264	9	either	either	CCONJ
fsr-3185	264	10	the	the	DET
fsr-3185	264	11	crsp	crsp	PROPN
fsr-3185	264	12	equally	equally	ADV
fsr-3185	264	13	weighted	weight	VERB
fsr-3185	264	14	portfolio	portfolio	NOUN
fsr-3185	264	15	or	or	CCONJ
fsr-3185	264	16	the	the	DET
fsr-3185	264	17	crsp	crsp	PROPN
fsr-3185	264	18	value	value	NOUN
fsr-3185	264	19	weighted	weight	VERB
fsr-3185	264	20	portfolio	portfolio	NOUN
fsr-3185	264	21	.	.	PUNCT
fsr-3185	265	1	the	the	DET
fsr-3185	265	2	independent	independent	ADJ
fsr-3185	265	3	variables	variable	NOUN
fsr-3185	265	4	are	be	AUX
fsr-3185	265	5	defined	define	VERB
fsr-3185	265	6	in	in	ADP
fsr-3185	265	7	the	the	DET
fsr-3185	265	8	following	follow	VERB
fsr-3185	265	9	manner	manner	NOUN
fsr-3185	265	10	:	:	PUNCT
fsr-3185	265	11	$	$	SYM
fsr-3185	265	12	&	&	CCONJ
fsr-3185	265	13	is	be	AUX
fsr-3185	265	14	the	the	DET
fsr-3185	265	15	change	change	NOUN
fsr-3185	265	16	in	in	ADP
fsr-3185	265	17	csi	csi	PROPN
fsr-3185	265	18	if	if	SCONJ
fsr-3185	265	19	sentiment	sentiment	NOUN
fsr-3185	265	20	decreases	decrease	VERB
fsr-3185	265	21	(	(	PUNCT
fsr-3185	265	22	i.e.	i.e.	X
fsr-3185	265	23	,	,	PUNCT
fsr-3185	265	24	$	$	SYM
fsr-3185	265	25	csi	csi	X
fsr-3185	265	26	'	'	NUM
fsr-3185	265	27	0	0	NUM
fsr-3185	265	28	)	)	PUNCT
fsr-3185	265	29	and	and	CCONJ
fsr-3185	266	1	zero	zero	NUM
fsr-3185	266	2	otherwise	otherwise	ADV
fsr-3185	266	3	,	,	PUNCT
fsr-3185	266	4	and	and	CCONJ
fsr-3185	266	5	$	$	SYM
fsr-3185	266	6	!	!	PUNCT
fsr-3185	266	7	is	be	AUX
fsr-3185	266	8	the	the	DET
fsr-3185	266	9	change	change	NOUN
fsr-3185	266	10	in	in	ADP
fsr-3185	266	11	csi	csi	PROPN
fsr-3185	266	12	if	if	SCONJ
fsr-3185	266	13	sentiment	sentiment	NOUN
fsr-3185	266	14	increases	increase	VERB
fsr-3185	266	15	(	(	PUNCT
fsr-3185	266	16	i.e.	i.e.	X
fsr-3185	266	17	,	,	PUNCT
fsr-3185	266	18	$	$	SYM
fsr-3185	266	19	csi	csi	X
fsr-3185	266	20	(	(	PUNCT
fsr-3185	266	21	0	0	NUM
fsr-3185	266	22	)	)	PUNCT
fsr-3185	266	23	and	and	CCONJ
fsr-3185	266	24	zero	zero	NUM
fsr-3185	266	25	otherwise	otherwise	ADV
fsr-3185	266	26	.	.	PUNCT
fsr-3185	267	1	all	all	DET
fsr-3185	267	2	data	datum	NOUN
fsr-3185	267	3	is	be	AUX
fsr-3185	267	4	monthly	monthly	ADJ
fsr-3185	267	5	and	and	CCONJ
fsr-3185	267	6	is	be	AUX
fsr-3185	267	7	from	from	ADP
fsr-3185	267	8	january	january	PROPN
fsr-3185	267	9	1978	1978	NUM
fsr-3185	267	10	until	until	ADP
fsr-3185	267	11	december	december	PROPN
fsr-3185	267	12	2010	2010	NUM
fsr-3185	267	13	.	.	PUNCT
fsr-3185	268	1	statistical	statistical	ADJ
fsr-3185	268	2	significance	significance	NOUN
fsr-3185	268	3	is	be	AUX
fsr-3185	268	4	determined	determine	VERB
fsr-3185	268	5	by	by	ADP
fsr-3185	268	6	the	the	DET
fsr-3185	268	7	newey	newey	PROPN
fsr-3185	268	8	-	-	PUNCT
fsr-3185	268	9	west	west	PROPN
fsr-3185	268	10	p	p	NOUN
fsr-3185	268	11	values	value	NOUN
fsr-3185	268	12	.	.	PUNCT
fsr-3185	269	1	55m.a	55m.a	NUM
fsr-3185	269	2	.	.	PUNCT
fsr-3185	270	1	johnson	johnson	PROPN
fsr-3185	270	2	,	,	PUNCT
fsr-3185	270	3	a.	a.	PROPN
fsr-3185	270	4	naka	naka	PROPN
fsr-3185	270	5	/	/	SYM
fsr-3185	270	6	financial	financial	ADJ
fsr-3185	270	7	services	service	NOUN
fsr-3185	270	8	review	review	VERB
fsr-3185	270	9	23	23	NUM
fsr-3185	270	10	(	(	PUNCT
fsr-3185	270	11	2014	2014	NUM
fsr-3185	270	12	)	)	PUNCT
fsr-3185	270	13	45–61	45–61	NUM
fsr-3185	270	14	returns	return	NOUN
fsr-3185	270	15	.	.	PUNCT
fsr-3185	271	1	the	the	DET
fsr-3185	271	2	magnitudes	magnitude	NOUN
fsr-3185	271	3	of	of	ADP
fsr-3185	271	4	the	the	DET
fsr-3185	271	5	estimated	estimate	VERB
fsr-3185	271	6	coefficients	coefficient	NOUN
fsr-3185	271	7	$	$	SYM
fsr-3185	271	8	&	&	CCONJ
fsr-3185	271	9	are	be	AUX
fsr-3185	271	10	in	in	ADP
fsr-3185	271	11	general	general	ADJ
fsr-3185	271	12	greater	great	ADJ
fsr-3185	271	13	than	than	ADP
fsr-3185	271	14	those	those	PRON
fsr-3185	271	15	of	of	ADP
fsr-3185	271	16	$	$	SYM
fsr-3185	271	17	!	!	PUNCT
fsr-3185	272	1	for	for	ADP
fsr-3185	272	2	long	long	ADJ
fsr-3185	272	3	-	-	PUNCT
fsr-3185	272	4	horizon	horizon	NOUN
fsr-3185	272	5	models	model	NOUN
fsr-3185	272	6	estimated	estimate	VERB
fsr-3185	272	7	except	except	SCONJ
fsr-3185	272	8	for	for	ADP
fsr-3185	272	9	two	two	NUM
fsr-3185	272	10	cases	case	NOUN
fsr-3185	272	11	(	(	PUNCT
fsr-3185	272	12	both	both	DET
fsr-3185	272	13	estimates	estimate	NOUN
fsr-3185	272	14	are	be	AUX
fsr-3185	272	15	not	not	PART
fsr-3185	272	16	statistically	statistically	ADV
fsr-3185	272	17	significant	significant	ADJ
fsr-3185	272	18	)	)	PUNCT
fsr-3185	272	19	.	.	PUNCT
fsr-3185	273	1	the	the	DET
fsr-3185	273	2	upside	upside	ADJ
fsr-3185	273	3	$	$	SYM
fsr-3185	273	4	for	for	ADP
fsr-3185	273	5	this	this	DET
fsr-3185	273	6	age	age	NOUN
fsr-3185	273	7	group	group	NOUN
fsr-3185	273	8	is	be	AUX
fsr-3185	273	9	statistically	statistically	ADV
fsr-3185	273	10	significant	significant	ADJ
fsr-3185	273	11	at	at	ADP
fsr-3185	273	12	the	the	DET
fsr-3185	273	13	5	5	NUM
fsr-3185	273	14	%	%	NOUN
fsr-3185	273	15	level	level	NOUN
fsr-3185	273	16	of	of	ADP
fsr-3185	273	17	significance	significance	NOUN
fsr-3185	273	18	in	in	ADP
fsr-3185	273	19	only	only	ADV
fsr-3185	273	20	2	2	NUM
fsr-3185	273	21	out	out	ADP
fsr-3185	273	22	of	of	ADP
fsr-3185	273	23	the	the	DET
fsr-3185	273	24	10	10	NUM
fsr-3185	273	25	long	long	ADJ
fsr-3185	273	26	-	-	PUNCT
fsr-3185	273	27	horizon	horizon	NOUN
fsr-3185	273	28	models	model	NOUN
fsr-3185	273	29	estimated	estimate	VERB
fsr-3185	273	30	,	,	PUNCT
fsr-3185	273	31	whereas	whereas	SCONJ
fsr-3185	273	32	the	the	DET
fsr-3185	273	33	downside	downside	NOUN
fsr-3185	273	34	$	$	NOUN
fsr-3185	273	35	is	be	AUX
fsr-3185	273	36	statistically	statistically	ADV
fsr-3185	273	37	significant	significant	ADJ
fsr-3185	273	38	in	in	ADP
fsr-3185	273	39	5	5	NUM
fsr-3185	273	40	out	out	ADP
fsr-3185	273	41	of	of	ADP
fsr-3185	273	42	the	the	DET
fsr-3185	273	43	10	10	NUM
fsr-3185	273	44	long	long	ADJ
fsr-3185	273	45	-	-	PUNCT
fsr-3185	273	46	horizon	horizon	NOUN
fsr-3185	273	47	models	model	NOUN
fsr-3185	273	48	estimated	estimate	VERB
fsr-3185	273	49	.	.	PUNCT
fsr-3185	274	1	we	we	PRON
fsr-3185	274	2	conjecture	conjecture	VERB
fsr-3185	274	3	that	that	SCONJ
fsr-3185	274	4	the	the	DET
fsr-3185	274	5	focus	focus	NOUN
fsr-3185	274	6	on	on	ADP
fsr-3185	274	7	avoiding	avoid	VERB
fsr-3185	274	8	losses	loss	NOUN
fsr-3185	274	9	is	be	AUX
fsr-3185	274	10	present	present	ADJ
fsr-3185	274	11	among	among	ADP
fsr-3185	274	12	younger	young	ADJ
fsr-3185	274	13	individuals	individual	NOUN
fsr-3185	274	14	,	,	PUNCT
fsr-3185	274	15	especially	especially	ADV
fsr-3185	274	16	given	give	VERB
fsr-3185	274	17	that	that	SCONJ
fsr-3185	274	18	they	they	PRON
fsr-3185	274	19	are	be	AUX
fsr-3185	274	20	in	in	ADP
fsr-3185	274	21	the	the	DET
fsr-3185	274	22	accumulation	accumulation	NOUN
fsr-3185	274	23	phase	phase	NOUN
fsr-3185	274	24	that	that	PRON
fsr-3185	274	25	reilly	reilly	ADV
fsr-3185	274	26	and	and	CCONJ
fsr-3185	274	27	brown	brown	ADJ
fsr-3185	274	28	(	(	PUNCT
fsr-3185	274	29	2008	2008	NUM
fsr-3185	274	30	)	)	PUNCT
fsr-3185	274	31	describe	describe	VERB
fsr-3185	274	32	and	and	CCONJ
fsr-3185	274	33	possibly	possibly	ADV
fsr-3185	274	34	can	can	AUX
fsr-3185	274	35	not	not	PART
fsr-3185	274	36	afford	afford	VERB
fsr-3185	274	37	to	to	PART
fsr-3185	274	38	lose	lose	VERB
fsr-3185	274	39	what	what	PRON
fsr-3185	274	40	assets	asset	NOUN
fsr-3185	274	41	they	they	PRON
fsr-3185	274	42	do	do	AUX
fsr-3185	274	43	have	have	VERB
fsr-3185	274	44	at	at	ADP
fsr-3185	274	45	this	this	DET
fsr-3185	274	46	particular	particular	ADJ
fsr-3185	274	47	point	point	NOUN
fsr-3185	274	48	in	in	ADP
fsr-3185	274	49	their	their	PRON
fsr-3185	274	50	lives	life	NOUN
fsr-3185	274	51	.	.	PUNCT
fsr-3185	275	1	table	table	NOUN
fsr-3185	275	2	4	4	NUM
fsr-3185	275	3	asymmetric	asymmetric	ADJ
fsr-3185	275	4	response	response	NOUN
fsr-3185	275	5	model	model	NOUN
fsr-3185	275	6	:	:	PUNCT
fsr-3185	275	7	csi	csi	PROPN
fsr-3185	275	8	for	for	ADP
fsr-3185	275	9	individuals	individual	NOUN
fsr-3185	275	10	18–34	18–34	NUM
fsr-3185	275	11	years	year	NOUN
fsr-3185	275	12	old	old	ADJ
fsr-3185	275	13	,	,	PUNCT
fsr-3185	275	14	35–54	35–54	NUM
fsr-3185	275	15	years	year	NOUN
fsr-3185	275	16	old	old	ADJ
fsr-3185	275	17	,	,	PUNCT
fsr-3185	275	18	and	and	CCONJ
fsr-3185	275	19	55	55	NUM
fsr-3185	275	20	years	year	NOUN
fsr-3185	275	21	old	old	ADJ
fsr-3185	275	22	and	and	CCONJ
fsr-3185	276	1	older	old	ADJ
fsr-3185	276	2	dependent	dependent	ADJ
fsr-3185	276	3	variable	variable	ADJ
fsr-3185	276	4	forecast	forecast	NOUN
fsr-3185	276	5	horizon	horizon	NOUN
fsr-3185	276	6	(	(	PUNCT
fsr-3185	276	7	k	k	NOUN
fsr-3185	276	8	)	)	PUNCT
fsr-3185	276	9	1	1	NUM
fsr-3185	276	10	3	3	NUM
fsr-3185	276	11	6	6	NUM
fsr-3185	276	12	12	12	NUM
fsr-3185	276	13	24	24	NUM
fsr-3185	276	14	ew	ew	NOUN
fsr-3185	276	15	returns	return	NOUN
fsr-3185	276	16	vw	vw	PROPN
fsr-3185	276	17	returns	return	NOUN
fsr-3185	276	18	ew	ew	INTJ
fsr-3185	276	19	returns	return	NOUN
fsr-3185	276	20	vw	vw	PROPN
fsr-3185	276	21	returns	return	NOUN
fsr-3185	276	22	ew	ew	INTJ
fsr-3185	276	23	returns	return	NOUN
fsr-3185	276	24	vw	vw	PROPN
fsr-3185	276	25	returns	return	NOUN
fsr-3185	276	26	ew	ew	INTJ
fsr-3185	276	27	returns	return	NOUN
fsr-3185	276	28	vw	vw	PROPN
fsr-3185	276	29	returns	return	NOUN
fsr-3185	276	30	ew	ew	INTJ
fsr-3185	276	31	returns	return	NOUN
fsr-3185	276	32	vw	vw	PROPN
fsr-3185	276	33	returns	return	NOUN
fsr-3185	276	34	panel	panel	NOUN
fsr-3185	276	35	a	a	X
fsr-3185	276	36	:	:	PUNCT
fsr-3185	276	37	csi	csi	PROPN
fsr-3185	276	38	for	for	ADP
fsr-3185	276	39	individuals	individual	NOUN
fsr-3185	276	40	18–34	18–34	NUM
fsr-3185	276	41	years	year	NOUN
fsr-3185	276	42	old	old	ADJ
fsr-3185	276	43	slope	slope	NOUN
fsr-3185	276	44	$	$	SYM
fsr-3185	276	45	&	&	CCONJ
fsr-3185	276	46	0.336	0.336	NUM
fsr-3185	276	47	0.283	0.283	NUM
fsr-3185	276	48	0.441	0.441	NUM
fsr-3185	276	49	0.459	0.459	NUM
fsr-3185	276	50	0.394	0.394	NUM
fsr-3185	276	51	0.492	0.492	NUM
fsr-3185	276	52	0.217	0.217	NUM
fsr-3185	276	53	0.525	0.525	NUM
fsr-3185	276	54	0.137	0.137	NUM
fsr-3185	276	55	0.633	0.633	NUM
fsr-3185	276	56	se	se	X
fsr-3185	276	57	(	(	PUNCT
fsr-3185	276	58	0.128	0.128	NUM
fsr-3185	276	59	)	)	PUNCT
fsr-3185	276	60	(	(	PUNCT
fsr-3185	276	61	0.105	0.105	NUM
fsr-3185	276	62	)	)	PUNCT
fsr-3185	276	63	(	(	PUNCT
fsr-3185	276	64	0.184	0.184	NUM
fsr-3185	276	65	)	)	PUNCT
fsr-3185	276	66	(	(	PUNCT
fsr-3185	276	67	0.142	0.142	NUM
fsr-3185	276	68	)	)	PUNCT
fsr-3185	276	69	(	(	PUNCT
fsr-3185	276	70	0.266	0.266	NUM
fsr-3185	276	71	)	)	PUNCT
fsr-3185	276	72	(	(	PUNCT
fsr-3185	276	73	0.190	0.190	NUM
fsr-3185	276	74	)	)	PUNCT
fsr-3185	276	75	(	(	PUNCT
fsr-3185	276	76	0.456	0.456	NUM
fsr-3185	276	77	)	)	PUNCT
fsr-3185	276	78	(	(	PUNCT
fsr-3185	276	79	0.301	0.301	NUM
fsr-3185	276	80	)	)	PUNCT
fsr-3185	276	81	(	(	PUNCT
fsr-3185	276	82	0.480	0.480	NUM
fsr-3185	276	83	)	)	PUNCT
fsr-3185	276	84	(	(	PUNCT
fsr-3185	276	85	0.326	0.326	NUM
fsr-3185	276	86	)	)	PUNCT
fsr-3185	276	87	p	p	NOUN
fsr-3185	276	88	value	value	NOUN
fsr-3185	276	89	[	[	X
fsr-3185	276	90	0.009	0.009	NUM
fsr-3185	276	91	]	]	X
fsr-3185	277	1	[	[	X
fsr-3185	277	2	0.007	0.007	X
fsr-3185	277	3	]	]	X
fsr-3185	278	1	[	[	X
fsr-3185	278	2	0.017	0.017	NUM
fsr-3185	278	3	]	]	PUNCT
fsr-3185	279	1	[	[	X
fsr-3185	279	2	0.001	0.001	NUM
fsr-3185	279	3	]	]	X
fsr-3185	279	4	[	[	X
fsr-3185	279	5	0.139	0.139	NUM
fsr-3185	279	6	]	]	PUNCT
fsr-3185	280	1	[	[	X
fsr-3185	280	2	0.010	0.010	NUM
fsr-3185	280	3	]	]	X
fsr-3185	281	1	[	[	X
fsr-3185	281	2	0.635	0.635	NUM
fsr-3185	281	3	]	]	X
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fsr-3185	281	6	]	]	X
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fsr-3185	282	3	]	]	X
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fsr-3185	283	3	]	]	PUNCT
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fsr-3185	283	6	!	!	NOUN
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fsr-3185	283	14	&	&	CCONJ
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fsr-3185	283	17	&	&	CCONJ
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fsr-3185	283	19	se	se	X
fsr-3185	283	20	(	(	PUNCT
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fsr-3185	283	22	)	)	PUNCT
fsr-3185	283	23	(	(	PUNCT
fsr-3185	283	24	0.047	0.047	NUM
fsr-3185	283	25	)	)	PUNCT
fsr-3185	283	26	(	(	PUNCT
fsr-3185	283	27	0.159	0.159	NUM
fsr-3185	283	28	)	)	PUNCT
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fsr-3185	283	31	)	)	PUNCT
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fsr-3185	283	34	)	)	PUNCT
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fsr-3185	283	37	)	)	PUNCT
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fsr-3185	283	39	0.332	0.332	NUM
fsr-3185	283	40	)	)	PUNCT
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fsr-3185	283	42	0.190	0.190	NUM
fsr-3185	283	43	)	)	PUNCT
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fsr-3185	283	45	0.317	0.317	NUM
fsr-3185	283	46	)	)	PUNCT
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fsr-3185	283	48	0.245	0.245	NUM
fsr-3185	283	49	)	)	PUNCT
fsr-3185	283	50	p	p	NOUN
fsr-3185	283	51	value	value	NOUN
fsr-3185	283	52	[	[	X
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fsr-3185	283	54	]	]	X
fsr-3185	284	1	[	[	X
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fsr-3185	284	3	]	]	PUNCT
fsr-3185	285	1	[	[	X
fsr-3185	285	2	0.015	0.015	X
fsr-3185	285	3	]	]	PUNCT
fsr-3185	286	1	[	[	X
fsr-3185	286	2	0.126	0.126	X
fsr-3185	286	3	]	]	PUNCT
fsr-3185	287	1	[	[	X
fsr-3185	287	2	0.104	0.104	X
fsr-3185	287	3	]	]	X
fsr-3185	288	1	[	[	X
fsr-3185	288	2	0.852	0.852	NUM
fsr-3185	288	3	]	]	X
fsr-3185	289	1	[	[	X
fsr-3185	289	2	0.215	0.215	X
fsr-3185	289	3	]	]	X
fsr-3185	290	1	[	[	X
fsr-3185	290	2	0.805	0.805	NUM
fsr-3185	290	3	]	]	X
fsr-3185	291	1	[	[	X
fsr-3185	291	2	0.555	0.555	NUM
fsr-3185	291	3	]	]	X
fsr-3185	291	4	[	[	X
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fsr-3185	291	6	]	]	X
fsr-3185	291	7	r2	r2	NOUN
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fsr-3185	291	9	0.043	0.043	NUM
fsr-3185	291	10	0.050	0.050	NUM
fsr-3185	291	11	0.048	0.048	NUM
fsr-3185	291	12	0.017	0.017	NUM
fsr-3185	291	13	0.020	0.020	NUM
fsr-3185	291	14	0.009	0.009	NUM
fsr-3185	291	15	0.010	0.010	NUM
fsr-3185	291	16	0.002	0.002	NUM
fsr-3185	291	17	0.011	0.011	NUM
fsr-3185	291	18	panel	panel	NOUN
fsr-3185	291	19	b	b	NOUN
fsr-3185	291	20	:	:	PUNCT
fsr-3185	291	21	csi	csi	PROPN
fsr-3185	291	22	for	for	ADP
fsr-3185	291	23	individuals	individual	NOUN
fsr-3185	291	24	35–54	35–54	NUM
fsr-3185	291	25	years	year	NOUN
fsr-3185	291	26	old	old	ADJ
fsr-3185	291	27	slope	slope	NOUN
fsr-3185	291	28	$	$	SYM
fsr-3185	291	29	&	&	CCONJ
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fsr-3185	291	33	0.667	0.667	NUM
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fsr-3185	291	35	0.695	0.695	NUM
fsr-3185	291	36	0.982	0.982	NUM
fsr-3185	291	37	0.980	0.980	NUM
fsr-3185	291	38	1.151	1.151	NUM
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fsr-3185	291	40	se	se	X
fsr-3185	291	41	(	(	PUNCT
fsr-3185	291	42	0.110	0.110	NUM
fsr-3185	291	43	)	)	PUNCT
fsr-3185	291	44	(	(	PUNCT
fsr-3185	291	45	0.093	0.093	NUM
fsr-3185	291	46	)	)	PUNCT
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fsr-3185	291	48	0.220	0.220	NUM
fsr-3185	291	49	)	)	PUNCT
fsr-3185	291	50	(	(	PUNCT
fsr-3185	291	51	0.177	0.177	NUM
fsr-3185	291	52	)	)	PUNCT
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fsr-3185	291	54	0.341	0.341	NUM
fsr-3185	291	55	)	)	PUNCT
fsr-3185	291	56	(	(	PUNCT
fsr-3185	291	57	0.272	0.272	NUM
fsr-3185	291	58	)	)	PUNCT
fsr-3185	291	59	(	(	PUNCT
fsr-3185	291	60	0.481	0.481	NUM
fsr-3185	291	61	)	)	PUNCT
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fsr-3185	291	63	0.369	0.369	NUM
fsr-3185	291	64	)	)	PUNCT
fsr-3185	291	65	(	(	PUNCT
fsr-3185	291	66	0.614	0.614	NUM
fsr-3185	291	67	)	)	PUNCT
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fsr-3185	291	69	0.424	0.424	NUM
fsr-3185	291	70	)	)	PUNCT
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fsr-3185	291	73	[	[	X
fsr-3185	291	74	0.014	0.014	X
fsr-3185	291	75	]	]	X
fsr-3185	292	1	[	[	X
fsr-3185	292	2	0.038	0.038	NUM
fsr-3185	292	3	]	]	PUNCT
fsr-3185	293	1	[	[	X
fsr-3185	293	2	0.001	0.001	NUM
fsr-3185	293	3	]	]	X
fsr-3185	294	1	[	[	X
fsr-3185	294	2	0.000	0.000	X
fsr-3185	294	3	]	]	X
fsr-3185	295	1	[	[	X
fsr-3185	295	2	0.031	0.031	X
fsr-3185	295	3	]	]	X
fsr-3185	296	1	[	[	X
fsr-3185	296	2	0.011	0.011	NUM
fsr-3185	296	3	]	]	X
fsr-3185	297	1	[	[	X
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fsr-3185	297	3	]	]	PUNCT
fsr-3185	298	1	[	[	X
fsr-3185	298	2	0.008	0.008	NUM
fsr-3185	298	3	]	]	X
fsr-3185	299	1	[	[	X
fsr-3185	299	2	0.061	0.061	X
fsr-3185	299	3	]	]	X
fsr-3185	300	1	[	[	X
fsr-3185	300	2	0.010	0.010	NUM
fsr-3185	300	3	]	]	PUNCT
fsr-3185	300	4	slope	slope	NOUN
fsr-3185	300	5	$	$	SYM
fsr-3185	300	6	!	!	PUNCT
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fsr-3185	301	6	&	&	CCONJ
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fsr-3185	301	8	&	&	CCONJ
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fsr-3185	301	10	&	&	CCONJ
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fsr-3185	301	12	&	&	CCONJ
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fsr-3185	301	14	&	&	CCONJ
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fsr-3185	301	16	se	se	X
fsr-3185	301	17	(	(	PUNCT
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fsr-3185	301	19	)	)	PUNCT
fsr-3185	301	20	(	(	PUNCT
fsr-3185	301	21	0.063	0.063	NUM
fsr-3185	301	22	)	)	PUNCT
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fsr-3185	301	24	0.175	0.175	NUM
fsr-3185	301	25	)	)	PUNCT
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fsr-3185	301	28	)	)	PUNCT
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fsr-3185	301	30	0.244	0.244	NUM
fsr-3185	301	31	)	)	PUNCT
fsr-3185	301	32	(	(	PUNCT
fsr-3185	301	33	0.186	0.186	NUM
fsr-3185	301	34	)	)	PUNCT
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fsr-3185	301	36	0.362	0.362	NUM
fsr-3185	301	37	)	)	PUNCT
fsr-3185	301	38	(	(	PUNCT
fsr-3185	301	39	0.293	0.293	NUM
fsr-3185	301	40	)	)	PUNCT
fsr-3185	301	41	(	(	PUNCT
fsr-3185	301	42	0.472	0.472	NUM
fsr-3185	301	43	)	)	PUNCT
fsr-3185	301	44	(	(	PUNCT
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fsr-3185	301	46	)	)	PUNCT
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fsr-3185	302	1	[	[	X
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fsr-3185	302	3	]	]	PUNCT
fsr-3185	303	1	[	[	X
fsr-3185	303	2	0.302	0.302	NUM
fsr-3185	303	3	]	]	X
fsr-3185	304	1	[	[	X
fsr-3185	304	2	0.156	0.156	NUM
fsr-3185	304	3	]	]	X
fsr-3185	305	1	[	[	X
fsr-3185	305	2	0.586	0.586	NUM
fsr-3185	305	3	]	]	X
fsr-3185	305	4	[	[	X
fsr-3185	305	5	0.398	0.398	NUM
fsr-3185	305	6	]	]	PUNCT
fsr-3185	306	1	[	[	X
fsr-3185	306	2	0.916	0.916	NUM
fsr-3185	306	3	]	]	X
fsr-3185	307	1	[	[	X
fsr-3185	307	2	0.493	0.493	NUM
fsr-3185	307	3	]	]	X
fsr-3185	308	1	[	[	X
fsr-3185	308	2	0.093	0.093	NUM
fsr-3185	308	3	]	]	PUNCT
fsr-3185	309	1	[	[	X
fsr-3185	309	2	0.239	0.239	NUM
fsr-3185	309	3	]	]	X
fsr-3185	309	4	[	[	X
fsr-3185	309	5	0.015	0.015	X
fsr-3185	309	6	]	]	PUNCT
fsr-3185	309	7	r2	r2	NOUN
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fsr-3185	309	9	0.035	0.035	NUM
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fsr-3185	309	12	0.040	0.040	NUM
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fsr-3185	309	14	0.025	0.025	NUM
fsr-3185	309	15	0.042	0.042	NUM
fsr-3185	309	16	0.026	0.026	NUM
fsr-3185	309	17	0.038	0.038	NUM
fsr-3185	309	18	panel	panel	NOUN
fsr-3185	309	19	c	c	NOUN
fsr-3185	309	20	:	:	PUNCT
fsr-3185	309	21	csi	csi	PROPN
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fsr-3185	309	23	individuals	individual	NOUN
fsr-3185	309	24	55	55	NUM
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fsr-3185	309	26	old	old	ADJ
fsr-3185	309	27	and	and	CCONJ
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fsr-3185	309	29	slope	slope	NOUN
fsr-3185	309	30	$	$	SYM
fsr-3185	309	31	&	&	CCONJ
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fsr-3185	309	42	se	se	X
fsr-3185	309	43	(	(	PUNCT
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fsr-3185	309	45	)	)	PUNCT
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fsr-3185	309	47	0.083	0.083	NUM
fsr-3185	309	48	)	)	PUNCT
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fsr-3185	309	51	)	)	PUNCT
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fsr-3185	309	54	)	)	PUNCT
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fsr-3185	309	57	)	)	PUNCT
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fsr-3185	309	60	)	)	PUNCT
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fsr-3185	309	63	)	)	PUNCT
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fsr-3185	309	66	)	)	PUNCT
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fsr-3185	309	69	)	)	PUNCT
fsr-3185	309	70	(	(	PUNCT
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fsr-3185	309	72	)	)	PUNCT
fsr-3185	309	73	p	p	NOUN
fsr-3185	309	74	value	value	NOUN
fsr-3185	309	75	[	[	X
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fsr-3185	309	77	]	]	PUNCT
fsr-3185	310	1	[	[	X
fsr-3185	310	2	0.033	0.033	NUM
fsr-3185	310	3	]	]	X
fsr-3185	311	1	[	[	X
fsr-3185	311	2	0.001	0.001	NUM
fsr-3185	311	3	]	]	X
fsr-3185	312	1	[	[	X
fsr-3185	312	2	0.000	0.000	X
fsr-3185	312	3	]	]	X
fsr-3185	313	1	[	[	X
fsr-3185	313	2	0.061	0.061	X
fsr-3185	313	3	]	]	X
fsr-3185	314	1	[	[	X
fsr-3185	314	2	0.050	0.050	NUM
fsr-3185	314	3	]	]	PUNCT
fsr-3185	315	1	[	[	X
fsr-3185	315	2	0.109	0.109	NUM
fsr-3185	315	3	]	]	PUNCT
fsr-3185	315	4	[	[	X
fsr-3185	315	5	0.019	0.019	NUM
fsr-3185	315	6	]	]	X
fsr-3185	316	1	[	[	X
fsr-3185	316	2	0.065	0.065	NUM
fsr-3185	316	3	]	]	X
fsr-3185	316	4	[	[	X
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fsr-3185	316	6	]	]	PUNCT
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fsr-3185	316	8	$	$	SYM
fsr-3185	316	9	!	!	NOUN
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fsr-3185	317	7	&	&	CCONJ
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fsr-3185	317	9	&	&	CCONJ
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fsr-3185	317	11	&	&	CCONJ
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fsr-3185	317	13	&	&	CCONJ
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fsr-3185	317	16	(	(	PUNCT
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fsr-3185	317	18	)	)	PUNCT
fsr-3185	317	19	(	(	PUNCT
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fsr-3185	317	21	)	)	PUNCT
fsr-3185	317	22	(	(	PUNCT
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fsr-3185	317	24	)	)	PUNCT
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fsr-3185	317	26	0.101	0.101	NUM
fsr-3185	317	27	)	)	PUNCT
fsr-3185	317	28	(	(	PUNCT
fsr-3185	317	29	0.182	0.182	NUM
fsr-3185	317	30	)	)	PUNCT
fsr-3185	317	31	(	(	PUNCT
fsr-3185	317	32	0.135	0.135	NUM
fsr-3185	317	33	)	)	PUNCT
fsr-3185	317	34	(	(	PUNCT
fsr-3185	317	35	0.285	0.285	NUM
fsr-3185	317	36	)	)	PUNCT
fsr-3185	317	37	(	(	PUNCT
fsr-3185	317	38	0.210	0.210	NUM
fsr-3185	317	39	)	)	PUNCT
fsr-3185	317	40	(	(	PUNCT
fsr-3185	317	41	0.338	0.338	NUM
fsr-3185	317	42	)	)	PUNCT
fsr-3185	317	43	(	(	PUNCT
fsr-3185	317	44	0.258	0.258	NUM
fsr-3185	317	45	)	)	PUNCT
fsr-3185	317	46	p	p	NOUN
fsr-3185	317	47	value	value	NOUN
fsr-3185	317	48	[	[	X
fsr-3185	317	49	0.025	0.025	NUM
fsr-3185	317	50	]	]	PUNCT
fsr-3185	318	1	[	[	X
fsr-3185	318	2	0.426	0.426	NUM
fsr-3185	318	3	]	]	X
fsr-3185	319	1	[	[	X
fsr-3185	319	2	0.055	0.055	NUM
fsr-3185	319	3	]	]	PUNCT
fsr-3185	319	4	[	[	X
fsr-3185	319	5	0.239	0.239	NUM
fsr-3185	319	6	]	]	X
fsr-3185	320	1	[	[	X
fsr-3185	320	2	0.284	0.284	NUM
fsr-3185	320	3	]	]	PUNCT
fsr-3185	321	1	[	[	X
fsr-3185	321	2	0.728	0.728	NUM
fsr-3185	321	3	]	]	PUNCT
fsr-3185	322	1	[	[	X
fsr-3185	322	2	0.795	0.795	X
fsr-3185	322	3	]	]	X
fsr-3185	323	1	[	[	X
fsr-3185	323	2	0.160	0.160	NUM
fsr-3185	323	3	]	]	PUNCT
fsr-3185	324	1	[	[	X
fsr-3185	324	2	0.364	0.364	X
fsr-3185	324	3	]	]	X
fsr-3185	324	4	[	[	X
fsr-3185	324	5	0.018	0.018	NUM
fsr-3185	324	6	]	]	X
fsr-3185	324	7	r2	r2	NOUN
fsr-3185	324	8	0.061	0.061	NUM
fsr-3185	324	9	0.030	0.030	NUM
fsr-3185	324	10	0.062	0.062	NUM
fsr-3185	324	11	0.069	0.069	NUM
fsr-3185	324	12	0.019	0.019	NUM
fsr-3185	324	13	0.017	0.017	NUM
fsr-3185	324	14	0.009	0.009	NUM
fsr-3185	324	15	0.017	0.017	NUM
fsr-3185	324	16	0.011	0.011	NUM
fsr-3185	324	17	0.022	0.022	NUM
fsr-3185	324	18	note	note	NOUN
fsr-3185	324	19	.	.	PUNCT
fsr-3185	325	1	this	this	DET
fsr-3185	325	2	table	table	NOUN
fsr-3185	325	3	represents	represent	VERB
fsr-3185	325	4	long	long	ADJ
fsr-3185	325	5	-	-	PUNCT
fsr-3185	325	6	horizon	horizon	NOUN
fsr-3185	325	7	ordinary	ordinary	ADJ
fsr-3185	325	8	least	least	ADJ
fsr-3185	325	9	square	square	ADJ
fsr-3185	325	10	regressions	regression	NOUN
fsr-3185	325	11	of	of	ADP
fsr-3185	325	12	asymmetric	asymmetric	ADJ
fsr-3185	325	13	response	response	NOUN
fsr-3185	325	14	model	model	NOUN
fsr-3185	325	15	incorporating	incorporate	VERB
fsr-3185	325	16	changes	change	NOUN
fsr-3185	325	17	in	in	ADP
fsr-3185	325	18	consumer	consumer	NOUN
fsr-3185	325	19	sentiment	sentiment	NOUN
fsr-3185	325	20	.	.	PUNCT
fsr-3185	326	1	k	k	PROPN
fsr-3185	326	2	stands	stand	VERB
fsr-3185	326	3	for	for	ADP
fsr-3185	326	4	monthly	monthly	ADJ
fsr-3185	326	5	cumulated	cumulated	ADJ
fsr-3185	326	6	k	k	PROPN
fsr-3185	326	7	horizon	horizon	NOUN
fsr-3185	326	8	returns	return	NOUN
fsr-3185	326	9	and	and	CCONJ
fsr-3185	326	10	when	when	SCONJ
fsr-3185	326	11	k	k	PROPN
fsr-3185	326	12	is	be	AUX
fsr-3185	326	13	greater	great	ADJ
fsr-3185	326	14	than	than	ADP
fsr-3185	326	15	one	one	NUM
fsr-3185	326	16	,	,	PUNCT
fsr-3185	326	17	the	the	DET
fsr-3185	326	18	regressions	regression	NOUN
fsr-3185	326	19	use	use	VERB
fsr-3185	326	20	overlapping	overlap	VERB
fsr-3185	326	21	monthly	monthly	ADJ
fsr-3185	326	22	data	datum	NOUN
fsr-3185	326	23	.	.	PUNCT
fsr-3185	327	1	the	the	DET
fsr-3185	327	2	dependent	dependent	ADJ
fsr-3185	327	3	variable	variable	NOUN
fsr-3185	327	4	is	be	AUX
fsr-3185	327	5	the	the	DET
fsr-3185	327	6	excess	excess	ADJ
fsr-3185	327	7	return	return	NOUN
fsr-3185	327	8	of	of	ADP
fsr-3185	327	9	either	either	CCONJ
fsr-3185	327	10	the	the	DET
fsr-3185	327	11	crsp	crsp	PROPN
fsr-3185	327	12	equally	equally	ADV
fsr-3185	327	13	weighted	weight	VERB
fsr-3185	327	14	portfolio	portfolio	NOUN
fsr-3185	327	15	or	or	CCONJ
fsr-3185	327	16	the	the	DET
fsr-3185	327	17	crsp	crsp	PROPN
fsr-3185	327	18	value	value	NOUN
fsr-3185	327	19	weighted	weight	VERB
fsr-3185	327	20	portfolio	portfolio	NOUN
fsr-3185	327	21	.	.	PUNCT
fsr-3185	328	1	the	the	DET
fsr-3185	328	2	independent	independent	ADJ
fsr-3185	328	3	variables	variable	NOUN
fsr-3185	328	4	are	be	AUX
fsr-3185	328	5	defined	define	VERB
fsr-3185	328	6	in	in	ADP
fsr-3185	328	7	the	the	DET
fsr-3185	328	8	following	follow	VERB
fsr-3185	328	9	manner	manner	NOUN
fsr-3185	328	10	:	:	PUNCT
fsr-3185	328	11	$	$	SYM
fsr-3185	328	12	&	&	CCONJ
fsr-3185	328	13	1	1	NUM
fsr-3185	328	14	is	be	AUX
fsr-3185	328	15	the	the	DET
fsr-3185	328	16	change	change	NOUN
fsr-3185	328	17	in	in	ADP
fsr-3185	328	18	csi	csi	PROPN
fsr-3185	328	19	if	if	SCONJ
fsr-3185	328	20	sentiment	sentiment	NOUN
fsr-3185	328	21	decreases	decrease	VERB
fsr-3185	328	22	(	(	PUNCT
fsr-3185	328	23	i.e.	i.e.	X
fsr-3185	328	24	,	,	PUNCT
fsr-3185	328	25	$	$	SYM
fsr-3185	328	26	csi	csi	X
fsr-3185	328	27	'	'	NUM
fsr-3185	328	28	0	0	NUM
fsr-3185	328	29	)	)	PUNCT
fsr-3185	328	30	and	and	CCONJ
fsr-3185	328	31	zero	zero	NUM
fsr-3185	328	32	otherwise	otherwise	ADV
fsr-3185	328	33	,	,	PUNCT
fsr-3185	328	34	and	and	CCONJ
fsr-3185	328	35	$	$	SYM
fsr-3185	328	36	!	!	PUNCT
fsr-3185	328	37	is	be	AUX
fsr-3185	328	38	the	the	DET
fsr-3185	328	39	change	change	NOUN
fsr-3185	328	40	in	in	ADP
fsr-3185	328	41	csi	csi	PROPN
fsr-3185	328	42	if	if	SCONJ
fsr-3185	328	43	sentiment	sentiment	NOUN
fsr-3185	328	44	increases	increase	VERB
fsr-3185	328	45	(	(	PUNCT
fsr-3185	328	46	i.e.	i.e.	X
fsr-3185	328	47	,	,	PUNCT
fsr-3185	328	48	$	$	SYM
fsr-3185	328	49	csi	csi	X
fsr-3185	328	50	(	(	PUNCT
fsr-3185	328	51	0	0	NUM
fsr-3185	328	52	)	)	PUNCT
fsr-3185	328	53	and	and	CCONJ
fsr-3185	328	54	zero	zero	NUM
fsr-3185	328	55	otherwise	otherwise	ADV
fsr-3185	328	56	.	.	PUNCT
fsr-3185	329	1	all	all	DET
fsr-3185	329	2	data	datum	NOUN
fsr-3185	329	3	is	be	AUX
fsr-3185	329	4	monthly	monthly	ADJ
fsr-3185	329	5	and	and	CCONJ
fsr-3185	329	6	is	be	AUX
fsr-3185	329	7	from	from	ADP
fsr-3185	329	8	january	january	PROPN
fsr-3185	329	9	1978	1978	NUM
fsr-3185	329	10	until	until	ADP
fsr-3185	329	11	december	december	PROPN
fsr-3185	329	12	2010	2010	NUM
fsr-3185	329	13	.	.	PUNCT
fsr-3185	330	1	statistical	statistical	ADJ
fsr-3185	330	2	significance	significance	NOUN
fsr-3185	330	3	is	be	AUX
fsr-3185	330	4	determined	determine	VERB
fsr-3185	330	5	by	by	ADP
fsr-3185	330	6	the	the	DET
fsr-3185	330	7	newey	newey	PROPN
fsr-3185	330	8	-	-	PUNCT
fsr-3185	330	9	west	west	PROPN
fsr-3185	330	10	p	p	NOUN
fsr-3185	330	11	values	value	NOUN
fsr-3185	330	12	.	.	PUNCT
fsr-3185	331	1	56	56	NUM
fsr-3185	331	2	m.a	m.a	PROPN
fsr-3185	331	3	.	.	PROPN
fsr-3185	331	4	johnson	johnson	PROPN
fsr-3185	331	5	,	,	PUNCT
fsr-3185	331	6	a.	a.	PROPN
fsr-3185	331	7	naka	naka	PROPN
fsr-3185	331	8	/	/	SYM
fsr-3185	331	9	financial	financial	ADJ
fsr-3185	331	10	services	service	NOUN
fsr-3185	331	11	review	review	VERB
fsr-3185	331	12	23	23	NUM
fsr-3185	331	13	(	(	PUNCT
fsr-3185	331	14	2014	2014	NUM
fsr-3185	331	15	)	)	PUNCT
fsr-3185	331	16	45–61	45–61	NUM
fsr-3185	331	17	panel	panel	NOUN
fsr-3185	331	18	b	b	PROPN
fsr-3185	331	19	of	of	ADP
fsr-3185	331	20	table	table	NOUN
fsr-3185	331	21	4	4	NUM
fsr-3185	331	22	presents	present	NOUN
fsr-3185	331	23	results	result	NOUN
fsr-3185	331	24	that	that	PRON
fsr-3185	331	25	pertain	pertain	VERB
fsr-3185	331	26	to	to	PART
fsr-3185	331	27	changes	change	NOUN
fsr-3185	331	28	in	in	ADP
fsr-3185	331	29	consumer	consumer	NOUN
fsr-3185	331	30	sentiment	sentiment	NOUN
fsr-3185	331	31	among	among	ADP
fsr-3185	331	32	individuals	individual	NOUN
fsr-3185	331	33	35	35	NUM
fsr-3185	331	34	to	to	PART
fsr-3185	331	35	54	54	NUM
fsr-3185	331	36	years	year	NOUN
fsr-3185	331	37	old	old	ADJ
fsr-3185	331	38	and	and	CCONJ
fsr-3185	331	39	their	their	PRON
fsr-3185	331	40	relationship	relationship	NOUN
fsr-3185	331	41	to	to	ADP
fsr-3185	331	42	excess	excess	ADJ
fsr-3185	331	43	market	market	NOUN
fsr-3185	331	44	returns	return	NOUN
fsr-3185	331	45	.	.	PUNCT
fsr-3185	332	1	we	we	PRON
fsr-3185	332	2	observe	observe	VERB
fsr-3185	332	3	that	that	SCONJ
fsr-3185	332	4	all	all	PRON
fsr-3185	332	5	downside	downside	ADJ
fsr-3185	332	6	$	$	SYM
fsr-3185	332	7	s	s	PART
fsr-3185	332	8	are	be	AUX
fsr-3185	332	9	greater	great	ADJ
fsr-3185	332	10	than	than	ADP
fsr-3185	332	11	the	the	DET
fsr-3185	332	12	upside	upside	NOUN
fsr-3185	332	13	$	$	SYM
fsr-3185	332	14	s	s	VERB
fsr-3185	332	15	in	in	ADP
fsr-3185	332	16	all	all	DET
fsr-3185	332	17	long	long	ADJ
fsr-3185	332	18	-	-	PUNCT
fsr-3185	332	19	horizon	horizon	NOUN
fsr-3185	332	20	models	model	NOUN
fsr-3185	332	21	estimated	estimate	VERB
fsr-3185	332	22	for	for	ADP
fsr-3185	332	23	this	this	DET
fsr-3185	332	24	age	age	NOUN
fsr-3185	332	25	group	group	NOUN
fsr-3185	332	26	.	.	PUNCT
fsr-3185	333	1	additionally	additionally	ADV
fsr-3185	333	2	,	,	PUNCT
fsr-3185	333	3	9	9	NUM
fsr-3185	333	4	out	out	ADP
fsr-3185	333	5	of	of	ADP
fsr-3185	333	6	the	the	DET
fsr-3185	333	7	10	10	NUM
fsr-3185	333	8	$	$	NOUN
fsr-3185	333	9	&	&	CCONJ
fsr-3185	333	10	coefficients	coefficient	NOUN
fsr-3185	333	11	are	be	AUX
fsr-3185	333	12	positive	positive	ADJ
fsr-3185	333	13	and	and	CCONJ
fsr-3185	333	14	statistically	statistically	ADV
fsr-3185	333	15	significant	significant	ADJ
fsr-3185	333	16	at	at	ADP
fsr-3185	333	17	the	the	DET
fsr-3185	333	18	1	1	NUM
fsr-3185	333	19	%	%	NOUN
fsr-3185	333	20	or	or	CCONJ
fsr-3185	333	21	5	5	NUM
fsr-3185	333	22	%	%	NOUN
fsr-3185	333	23	level	level	NOUN
fsr-3185	333	24	of	of	ADP
fsr-3185	333	25	significance	significance	NOUN
fsr-3185	333	26	,	,	PUNCT
fsr-3185	333	27	and	and	CCONJ
fsr-3185	333	28	mostly	mostly	ADV
fsr-3185	333	29	increase	increase	VERB
fsr-3185	333	30	in	in	ADP
fsr-3185	333	31	magnitude	magnitude	NOUN
fsr-3185	333	32	as	as	SCONJ
fsr-3185	333	33	the	the	DET
fsr-3185	333	34	forecast	forecast	NOUN
fsr-3185	333	35	horizons	horizon	NOUN
fsr-3185	333	36	increase	increase	NOUN
fsr-3185	333	37	.	.	PUNCT
fsr-3185	334	1	for	for	ADP
fsr-3185	334	2	the	the	DET
fsr-3185	334	3	forecast	forecast	NOUN
fsr-3185	334	4	horizons	horizon	NOUN
fsr-3185	334	5	of	of	ADP
fsr-3185	334	6	3	3	NUM
fsr-3185	334	7	,	,	PUNCT
fsr-3185	334	8	6	6	NUM
fsr-3185	334	9	,	,	PUNCT
fsr-3185	334	10	12	12	NUM
fsr-3185	334	11	,	,	PUNCT
fsr-3185	334	12	and	and	CCONJ
fsr-3185	334	13	24	24	NUM
fsr-3185	334	14	months	month	NOUN
fsr-3185	334	15	,	,	PUNCT
fsr-3185	334	16	the	the	DET
fsr-3185	334	17	downside	downside	NOUN
fsr-3185	334	18	$	$	SYM
fsr-3185	334	19	s	s	NOUN
fsr-3185	334	20	for	for	ADP
fsr-3185	334	21	individuals	individual	NOUN
fsr-3185	334	22	35	35	NUM
fsr-3185	334	23	to	to	PART
fsr-3185	334	24	54	54	NUM
fsr-3185	334	25	years	year	NOUN
fsr-3185	334	26	old	old	ADJ
fsr-3185	334	27	are	be	AUX
fsr-3185	334	28	greater	great	ADJ
fsr-3185	334	29	than	than	ADP
fsr-3185	334	30	the	the	DET
fsr-3185	334	31	corresponding	correspond	VERB
fsr-3185	334	32	downside	downside	NOUN
fsr-3185	334	33	$	$	SYM
fsr-3185	334	34	s	s	NOUN
fsr-3185	334	35	for	for	ADP
fsr-3185	334	36	individuals	individual	NOUN
fsr-3185	334	37	18	18	NUM
fsr-3185	334	38	to	to	PART
fsr-3185	334	39	34	34	NUM
fsr-3185	334	40	years	year	NOUN
fsr-3185	334	41	old	old	ADJ
fsr-3185	334	42	.	.	PUNCT
fsr-3185	335	1	the	the	DET
fsr-3185	335	2	results	result	NOUN
fsr-3185	335	3	support	support	VERB
fsr-3185	335	4	bakshi	bakshi	PROPN
fsr-3185	335	5	and	and	CCONJ
fsr-3185	335	6	chen	chen	PROPN
fsr-3185	335	7	(	(	PUNCT
fsr-3185	335	8	1994	1994	NUM
fsr-3185	335	9	)	)	PUNCT
fsr-3185	335	10	who	who	PRON
fsr-3185	335	11	show	show	VERB
fsr-3185	335	12	that	that	PRON
fsr-3185	335	13	risk	risk	NOUN
fsr-3185	335	14	aversion	aversion	NOUN
fsr-3185	335	15	increases	increase	VERB
fsr-3185	335	16	with	with	ADP
fsr-3185	335	17	age	age	NOUN
fsr-3185	335	18	and	and	CCONJ
fsr-3185	335	19	conclude	conclude	VERB
fsr-3185	335	20	that	that	SCONJ
fsr-3185	335	21	demographic	demographic	ADJ
fsr-3185	335	22	changes	change	NOUN
fsr-3185	335	23	will	will	AUX
fsr-3185	335	24	cause	cause	VERB
fsr-3185	335	25	price	price	NOUN
fsr-3185	335	26	fluctuations	fluctuation	NOUN
fsr-3185	335	27	in	in	ADP
fsr-3185	335	28	the	the	DET
fsr-3185	335	29	capital	capital	NOUN
fsr-3185	335	30	markets	market	NOUN
fsr-3185	335	31	as	as	SCONJ
fsr-3185	335	32	they	they	PRON
fsr-3185	335	33	affect	affect	VERB
fsr-3185	335	34	macroeconomic	macroeconomic	ADJ
fsr-3185	335	35	variables	variable	NOUN
fsr-3185	335	36	.	.	PUNCT
fsr-3185	336	1	furthermore	furthermore	ADV
fsr-3185	336	2	,	,	PUNCT
fsr-3185	336	3	the	the	DET
fsr-3185	336	4	consolidation	consolidation	NOUN
fsr-3185	336	5	phase	phase	NOUN
fsr-3185	336	6	described	describe	VERB
fsr-3185	336	7	by	by	ADP
fsr-3185	336	8	reilly	reilly	ADJ
fsr-3185	336	9	and	and	CCONJ
fsr-3185	336	10	brown	brown	ADJ
fsr-3185	336	11	(	(	PUNCT
fsr-3185	336	12	2008	2008	NUM
fsr-3185	336	13	)	)	PUNCT
fsr-3185	336	14	involves	involve	VERB
fsr-3185	336	15	the	the	DET
fsr-3185	336	16	time	time	NOUN
fsr-3185	336	17	when	when	SCONJ
fsr-3185	336	18	it	it	PRON
fsr-3185	336	19	is	be	AUX
fsr-3185	336	20	most	most	ADV
fsr-3185	336	21	likely	likely	ADJ
fsr-3185	336	22	that	that	SCONJ
fsr-3185	336	23	an	an	DET
fsr-3185	336	24	individual	individual	NOUN
fsr-3185	336	25	’s	’s	PART
fsr-3185	336	26	earnings	earning	NOUN
fsr-3185	336	27	exceed	exceed	VERB
fsr-3185	336	28	their	their	PRON
fsr-3185	336	29	expenses	expense	NOUN
fsr-3185	336	30	and	and	CCONJ
fsr-3185	336	31	as	as	ADP
fsr-3185	336	32	a	a	DET
fsr-3185	336	33	result	result	NOUN
fsr-3185	336	34	,	,	PUNCT
fsr-3185	336	35	they	they	PRON
fsr-3185	336	36	can	can	AUX
fsr-3185	336	37	invest	invest	VERB
fsr-3185	336	38	this	this	DET
fsr-3185	336	39	difference	difference	NOUN
fsr-3185	336	40	in	in	ADP
fsr-3185	336	41	additional	additional	ADJ
fsr-3185	336	42	assets	asset	NOUN
fsr-3185	336	43	such	such	ADJ
fsr-3185	336	44	as	as	ADP
fsr-3185	336	45	stocks	stock	NOUN
fsr-3185	336	46	.	.	PUNCT
fsr-3185	337	1	reilly	reilly	ADJ
fsr-3185	337	2	and	and	CCONJ
fsr-3185	337	3	brown	brown	ADJ
fsr-3185	337	4	state	state	NOUN
fsr-3185	337	5	that	that	SCONJ
fsr-3185	337	6	“	"	PUNCT
fsr-3185	337	7	because	because	SCONJ
fsr-3185	337	8	individuals	individual	NOUN
fsr-3185	337	9	in	in	ADP
fsr-3185	337	10	this	this	DET
fsr-3185	337	11	phase	phase	NOUN
fsr-3185	337	12	are	be	AUX
fsr-3185	337	13	concerned	concerned	ADJ
fsr-3185	337	14	about	about	ADP
fsr-3185	337	15	capital	capital	NOUN
fsr-3185	337	16	preservation	preservation	NOUN
fsr-3185	337	17	,	,	PUNCT
fsr-3185	337	18	they	they	PRON
fsr-3185	337	19	do	do	AUX
fsr-3185	337	20	not	not	PART
fsr-3185	337	21	want	want	VERB
fsr-3185	337	22	to	to	PART
fsr-3185	337	23	take	take	VERB
fsr-3185	337	24	very	very	ADV
fsr-3185	337	25	large	large	ADJ
fsr-3185	337	26	risks	risk	NOUN
fsr-3185	337	27	that	that	PRON
fsr-3185	337	28	may	may	AUX
fsr-3185	337	29	put	put	VERB
fsr-3185	337	30	their	their	PRON
fsr-3185	337	31	current	current	ADJ
fsr-3185	337	32	nest	nest	NOUN
fsr-3185	337	33	egg	egg	NOUN
fsr-3185	337	34	in	in	ADP
fsr-3185	337	35	jeopardy	jeopardy	NOUN
fsr-3185	337	36	.	.	PUNCT
fsr-3185	337	37	”	"	PUNCT
fsr-3185	338	1	as	as	ADP
fsr-3185	338	2	their	their	PRON
fsr-3185	338	3	careers	career	NOUN
fsr-3185	338	4	and	and	CCONJ
fsr-3185	338	5	age	age	NOUN
fsr-3185	338	6	advance	advance	NOUN
fsr-3185	338	7	,	,	PUNCT
fsr-3185	338	8	individuals	individual	NOUN
fsr-3185	338	9	typically	typically	ADV
fsr-3185	338	10	begin	begin	VERB
fsr-3185	338	11	investing	invest	VERB
fsr-3185	338	12	their	their	PRON
fsr-3185	338	13	wealth	wealth	NOUN
fsr-3185	338	14	more	more	ADV
fsr-3185	338	15	conservatively	conservatively	ADV
fsr-3185	338	16	as	as	SCONJ
fsr-3185	338	17	they	they	PRON
fsr-3185	338	18	near	near	ADP
fsr-3185	338	19	retirement	retirement	NOUN
fsr-3185	338	20	.	.	PUNCT
fsr-3185	339	1	our	our	PRON
fsr-3185	339	2	asymmetric	asymmetric	ADJ
fsr-3185	339	3	response	response	NOUN
fsr-3185	339	4	model	model	NOUN
fsr-3185	339	5	results	result	NOUN
fsr-3185	339	6	for	for	ADP
fsr-3185	339	7	individuals	individual	NOUN
fsr-3185	339	8	55	55	NUM
fsr-3185	339	9	years	year	NOUN
fsr-3185	339	10	of	of	ADP
fsr-3185	339	11	age	age	NOUN
fsr-3185	339	12	and	and	CCONJ
fsr-3185	339	13	older	old	ADJ
fsr-3185	339	14	are	be	AUX
fsr-3185	339	15	presented	present	VERB
fsr-3185	339	16	in	in	ADP
fsr-3185	339	17	panel	panel	NOUN
fsr-3185	339	18	c	c	PROPN
fsr-3185	339	19	of	of	ADP
fsr-3185	339	20	table	table	NOUN
fsr-3185	339	21	4	4	NUM
fsr-3185	339	22	.	.	PUNCT
fsr-3185	340	1	they	they	PRON
fsr-3185	340	2	indicate	indicate	VERB
fsr-3185	340	3	that	that	SCONJ
fsr-3185	340	4	6	6	NUM
fsr-3185	340	5	of	of	ADP
fsr-3185	340	6	the	the	DET
fsr-3185	340	7	10	10	NUM
fsr-3185	340	8	downside	downside	NOUN
fsr-3185	340	9	$	$	SYM
fsr-3185	340	10	s	s	AUX
fsr-3185	340	11	estimated	estimate	VERB
fsr-3185	340	12	are	be	AUX
fsr-3185	340	13	statistically	statistically	ADV
fsr-3185	340	14	significant	significant	ADJ
fsr-3185	340	15	.	.	PUNCT
fsr-3185	341	1	additionally	additionally	ADV
fsr-3185	341	2	,	,	PUNCT
fsr-3185	341	3	$	$	PROPN
fsr-3185	341	4	&	&	CCONJ
fsr-3185	341	5	for	for	ADP
fsr-3185	341	6	the	the	DET
fsr-3185	341	7	oldest	old	ADJ
fsr-3185	341	8	age	age	NOUN
fsr-3185	341	9	group	group	NOUN
fsr-3185	341	10	exhibits	exhibit	VERB
fsr-3185	341	11	a	a	DET
fsr-3185	341	12	mostly	mostly	ADV
fsr-3185	341	13	increasing	increase	VERB
fsr-3185	341	14	trend	trend	NOUN
fsr-3185	341	15	that	that	PRON
fsr-3185	341	16	is	be	AUX
fsr-3185	341	17	consistent	consistent	ADJ
fsr-3185	341	18	with	with	ADP
fsr-3185	341	19	the	the	DET
fsr-3185	341	20	other	other	ADJ
fsr-3185	341	21	asymmetric	asymmetric	ADJ
fsr-3185	341	22	response	response	NOUN
fsr-3185	341	23	models	model	NOUN
fsr-3185	341	24	,	,	PUNCT
fsr-3185	341	25	as	as	ADV
fsr-3185	341	26	well	well	ADV
fsr-3185	341	27	as	as	ADP
fsr-3185	341	28	all	all	PRON
fsr-3185	341	29	downside	downside	ADJ
fsr-3185	341	30	$	$	SYM
fsr-3185	341	31	s	s	AUX
fsr-3185	341	32	being	be	AUX
fsr-3185	341	33	greater	great	ADJ
fsr-3185	341	34	than	than	ADP
fsr-3185	341	35	the	the	DET
fsr-3185	341	36	upside	upside	NOUN
fsr-3185	341	37	$	$	SYM
fsr-3185	341	38	s	s	VERB
fsr-3185	341	39	in	in	ADP
fsr-3185	341	40	all	all	DET
fsr-3185	341	41	long	long	ADJ
fsr-3185	341	42	-	-	PUNCT
fsr-3185	341	43	run	run	VERB
fsr-3185	341	44	horizons	horizon	NOUN
fsr-3185	341	45	.	.	PUNCT
fsr-3185	342	1	the	the	DET
fsr-3185	342	2	upside	upside	ADJ
fsr-3185	342	3	$	$	SYM
fsr-3185	342	4	s	s	AUX
fsr-3185	342	5	exhibit	exhibit	NOUN
fsr-3185	342	6	a	a	DET
fsr-3185	342	7	mostly	mostly	ADV
fsr-3185	342	8	decreasing	decrease	VERB
fsr-3185	342	9	trend	trend	NOUN
fsr-3185	342	10	as	as	ADP
fsr-3185	342	11	the	the	DET
fsr-3185	342	12	forecast	forecast	NOUN
fsr-3185	342	13	horizon	horizon	NOUN
fsr-3185	342	14	increases	increase	NOUN
fsr-3185	342	15	,	,	PUNCT
fsr-3185	342	16	but	but	CCONJ
fsr-3185	342	17	only	only	ADV
fsr-3185	342	18	2	2	NUM
fsr-3185	342	19	out	out	ADP
fsr-3185	342	20	of	of	ADP
fsr-3185	342	21	the	the	DET
fsr-3185	342	22	10	10	NUM
fsr-3185	342	23	$	$	SYM
fsr-3185	342	24	!	!	PUNCT
fsr-3185	343	1	coefficients	coefficient	NOUN
fsr-3185	343	2	are	be	AUX
fsr-3185	343	3	statistically	statistically	ADV
fsr-3185	343	4	significant	significant	ADJ
fsr-3185	343	5	at	at	ADP
fsr-3185	343	6	a	a	DET
fsr-3185	343	7	5	5	NUM
fsr-3185	343	8	%	%	NOUN
fsr-3185	343	9	level	level	NOUN
fsr-3185	343	10	of	of	ADP
fsr-3185	343	11	significance	significance	NOUN
fsr-3185	343	12	.	.	PUNCT
fsr-3185	344	1	it	it	PRON
fsr-3185	344	2	should	should	AUX
fsr-3185	344	3	be	be	AUX
fsr-3185	344	4	noted	note	VERB
fsr-3185	344	5	that	that	SCONJ
fsr-3185	344	6	the	the	DET
fsr-3185	344	7	$	$	SYM
fsr-3185	344	8	&	&	CCONJ
fsr-3185	344	9	coefficients	coefficient	NOUN
fsr-3185	344	10	for	for	ADP
fsr-3185	344	11	this	this	DET
fsr-3185	344	12	age	age	NOUN
fsr-3185	344	13	group	group	NOUN
fsr-3185	344	14	are	be	AUX
fsr-3185	344	15	all	all	ADV
fsr-3185	344	16	smaller	small	ADJ
fsr-3185	344	17	than	than	ADP
fsr-3185	344	18	the	the	DET
fsr-3185	344	19	corresponding	correspond	VERB
fsr-3185	344	20	horizon	horizon	NOUN
fsr-3185	344	21	$	$	SYM
fsr-3185	344	22	&	&	CCONJ
fsr-3185	344	23	coefficients	coefficient	NOUN
fsr-3185	344	24	for	for	ADP
fsr-3185	344	25	the	the	DET
fsr-3185	344	26	35	35	NUM
fsr-3185	344	27	to	to	PART
fsr-3185	344	28	54	54	NUM
fsr-3185	344	29	age	age	NOUN
fsr-3185	344	30	group	group	NOUN
fsr-3185	344	31	.	.	PUNCT
fsr-3185	345	1	this	this	PRON
fsr-3185	345	2	implies	imply	VERB
fsr-3185	345	3	that	that	SCONJ
fsr-3185	345	4	individuals	individual	NOUN
fsr-3185	345	5	35	35	NUM
fsr-3185	345	6	to	to	PART
fsr-3185	345	7	54	54	NUM
fsr-3185	345	8	years	year	NOUN
fsr-3185	345	9	old	old	ADJ
fsr-3185	345	10	exhibit	exhibit	VERB
fsr-3185	345	11	more	more	ADJ
fsr-3185	345	12	aversion	aversion	NOUN
fsr-3185	345	13	towards	towards	ADP
fsr-3185	345	14	downside	downside	ADJ
fsr-3185	345	15	risks	risk	NOUN
fsr-3185	345	16	than	than	ADP
fsr-3185	345	17	individuals	individual	NOUN
fsr-3185	345	18	55	55	NUM
fsr-3185	345	19	and	and	CCONJ
fsr-3185	345	20	older	old	ADJ
fsr-3185	345	21	.	.	PUNCT
fsr-3185	346	1	given	give	VERB
fsr-3185	346	2	that	that	SCONJ
fsr-3185	346	3	stock	stock	NOUN
fsr-3185	346	4	market	market	NOUN
fsr-3185	346	5	excess	excess	ADJ
fsr-3185	346	6	returns	return	NOUN
fsr-3185	346	7	are	be	AUX
fsr-3185	346	8	used	use	VERB
fsr-3185	346	9	as	as	ADP
fsr-3185	346	10	the	the	DET
fsr-3185	346	11	dependent	dependent	ADJ
fsr-3185	346	12	variable	variable	NOUN
fsr-3185	346	13	in	in	ADP
fsr-3185	346	14	our	our	PRON
fsr-3185	346	15	asymmetric	asymmetric	ADJ
fsr-3185	346	16	models	model	NOUN
fsr-3185	346	17	,	,	PUNCT
fsr-3185	346	18	we	we	PRON
fsr-3185	346	19	conjecture	conjecture	VERB
fsr-3185	346	20	that	that	SCONJ
fsr-3185	346	21	older	old	ADJ
fsr-3185	346	22	individuals	individual	NOUN
fsr-3185	346	23	are	be	AUX
fsr-3185	346	24	less	less	ADV
fsr-3185	346	25	likely	likely	ADJ
fsr-3185	346	26	to	to	PART
fsr-3185	346	27	have	have	VERB
fsr-3185	346	28	significant	significant	ADJ
fsr-3185	346	29	stock	stock	NOUN
fsr-3185	346	30	market	market	NOUN
fsr-3185	346	31	exposure	exposure	NOUN
fsr-3185	346	32	because	because	SCONJ
fsr-3185	346	33	of	of	ADP
fsr-3185	346	34	their	their	PRON
fsr-3185	346	35	nearer	nearer	ADJ
fsr-3185	346	36	-	-	PUNCT
fsr-3185	346	37	term	term	NOUN
fsr-3185	346	38	focus	focus	NOUN
fsr-3185	346	39	upon	upon	SCONJ
fsr-3185	346	40	retirement	retirement	NOUN
fsr-3185	346	41	and	and	CCONJ
fsr-3185	346	42	inclination	inclination	NOUN
fsr-3185	346	43	to	to	PART
fsr-3185	346	44	possibly	possibly	ADV
fsr-3185	346	45	hold	hold	VERB
fsr-3185	346	46	a	a	DET
fsr-3185	346	47	larger	large	ADJ
fsr-3185	346	48	portion	portion	NOUN
fsr-3185	346	49	of	of	ADP
fsr-3185	346	50	fixed	fix	VERB
fsr-3185	346	51	income	income	NOUN
fsr-3185	346	52	securities	security	NOUN
fsr-3185	346	53	.	.	PUNCT
fsr-3185	347	1	in	in	ADP
fsr-3185	347	2	summary	summary	NOUN
fsr-3185	347	3	,	,	PUNCT
fsr-3185	347	4	we	we	PRON
fsr-3185	347	5	observe	observe	VERB
fsr-3185	347	6	that	that	SCONJ
fsr-3185	347	7	the	the	DET
fsr-3185	347	8	magnitudes	magnitude	NOUN
fsr-3185	347	9	of	of	ADP
fsr-3185	347	10	the	the	DET
fsr-3185	347	11	downside	downside	ADJ
fsr-3185	347	12	$	$	SYM
fsr-3185	347	13	coefficients	coefficient	NOUN
fsr-3185	347	14	are	be	AUX
fsr-3185	347	15	greater	great	ADJ
fsr-3185	347	16	than	than	ADP
fsr-3185	347	17	those	those	PRON
fsr-3185	347	18	of	of	ADP
fsr-3185	347	19	the	the	DET
fsr-3185	347	20	upside	upside	ADJ
fsr-3185	347	21	$	$	SYM
fsr-3185	347	22	s	s	NOUN
fsr-3185	347	23	because	because	SCONJ
fsr-3185	347	24	downside	downside	ADJ
fsr-3185	347	25	risk	risk	NOUN
fsr-3185	347	26	matters	matter	VERB
fsr-3185	347	27	more	more	ADV
fsr-3185	347	28	.	.	PUNCT
fsr-3185	348	1	this	this	DET
fsr-3185	348	2	finding	finding	NOUN
fsr-3185	348	3	holds	hold	VERB
fsr-3185	348	4	true	true	ADJ
fsr-3185	348	5	in	in	ADP
fsr-3185	348	6	the	the	DET
fsr-3185	348	7	majority	majority	NOUN
fsr-3185	348	8	of	of	ADP
fsr-3185	348	9	our	our	PRON
fsr-3185	348	10	results	result	NOUN
fsr-3185	348	11	for	for	ADP
fsr-3185	348	12	the	the	DET
fsr-3185	348	13	composite	composite	ADJ
fsr-3185	348	14	csi	csi	NOUN
fsr-3185	348	15	,	,	PUNCT
fsr-3185	348	16	as	as	ADV
fsr-3185	348	17	well	well	ADV
fsr-3185	348	18	as	as	ADP
fsr-3185	348	19	the	the	DET
fsr-3185	348	20	csi	csi	PROPN
fsr-3185	348	21	for	for	ADP
fsr-3185	348	22	each	each	DET
fsr-3185	348	23	respective	respective	ADJ
fsr-3185	348	24	age	age	NOUN
fsr-3185	348	25	group	group	NOUN
fsr-3185	348	26	.	.	PUNCT
fsr-3185	349	1	further	far	ADV
fsr-3185	349	2	,	,	PUNCT
fsr-3185	349	3	our	our	PRON
fsr-3185	349	4	results	result	NOUN
fsr-3185	349	5	show	show	VERB
fsr-3185	349	6	that	that	SCONJ
fsr-3185	349	7	the	the	DET
fsr-3185	349	8	sizes	size	NOUN
fsr-3185	349	9	of	of	ADP
fsr-3185	349	10	the	the	DET
fsr-3185	349	11	downside	downside	NOUN
fsr-3185	349	12	$	$	SYM
fsr-3185	349	13	s	s	VERB
fsr-3185	349	14	are	be	AUX
fsr-3185	349	15	generally	generally	ADV
fsr-3185	349	16	greater	great	ADJ
fsr-3185	349	17	for	for	ADP
fsr-3185	349	18	consumers	consumer	NOUN
fsr-3185	349	19	35	35	NUM
fsr-3185	349	20	to	to	PART
fsr-3185	349	21	54	54	NUM
fsr-3185	349	22	years	year	NOUN
fsr-3185	349	23	old	old	ADJ
fsr-3185	349	24	and	and	CCONJ
fsr-3185	349	25	55	55	NUM
fsr-3185	349	26	years	year	NOUN
fsr-3185	349	27	and	and	CCONJ
fsr-3185	349	28	older	old	ADJ
fsr-3185	349	29	,	,	PUNCT
fsr-3185	349	30	than	than	ADP
fsr-3185	349	31	those	those	PRON
fsr-3185	349	32	of	of	ADP
fsr-3185	349	33	the	the	DET
fsr-3185	349	34	downside	downside	ADJ
fsr-3185	350	1	$	$	SYM
fsr-3185	350	2	coefficients	coefficient	NOUN
fsr-3185	350	3	for	for	ADP
fsr-3185	350	4	the	the	DET
fsr-3185	350	5	youngest	young	ADJ
fsr-3185	350	6	age	age	NOUN
fsr-3185	350	7	group	group	NOUN
fsr-3185	350	8	,	,	PUNCT
fsr-3185	350	9	consumers	consumer	NOUN
fsr-3185	350	10	18	18	NUM
fsr-3185	350	11	to	to	PART
fsr-3185	350	12	34	34	NUM
fsr-3185	350	13	years	year	NOUN
fsr-3185	350	14	old	old	ADJ
fsr-3185	350	15	.	.	PUNCT
fsr-3185	351	1	the	the	DET
fsr-3185	351	2	results	result	NOUN
fsr-3185	351	3	confirm	confirm	VERB
fsr-3185	351	4	that	that	SCONJ
fsr-3185	351	5	the	the	PRON
fsr-3185	351	6	older	old	ADJ
fsr-3185	351	7	we	we	PRON
fsr-3185	351	8	get	get	VERB
fsr-3185	351	9	,	,	PUNCT
fsr-3185	351	10	the	the	DET
fsr-3185	351	11	more	more	ADJ
fsr-3185	351	12	risk	risk	NOUN
fsr-3185	351	13	averse	averse	ADJ
fsr-3185	351	14	we	we	PRON
fsr-3185	351	15	become	become	VERB
fsr-3185	351	16	.	.	PUNCT
fsr-3185	352	1	our	our	PRON
fsr-3185	352	2	findings	finding	NOUN
fsr-3185	352	3	are	be	AUX
fsr-3185	352	4	also	also	ADV
fsr-3185	352	5	consistent	consistent	ADJ
fsr-3185	352	6	with	with	ADP
fsr-3185	352	7	riley	riley	NOUN
fsr-3185	352	8	and	and	CCONJ
fsr-3185	352	9	chow	chow	PROPN
fsr-3185	352	10	(	(	PUNCT
fsr-3185	352	11	1992	1992	NUM
fsr-3185	352	12	)	)	PUNCT
fsr-3185	352	13	and	and	CCONJ
fsr-3185	352	14	halek	halek	NOUN
fsr-3185	352	15	and	and	CCONJ
fsr-3185	352	16	eisenhauer	eisenhauer	NOUN
fsr-3185	352	17	(	(	PUNCT
fsr-3185	352	18	2001	2001	NUM
fsr-3185	352	19	)	)	PUNCT
fsr-3185	352	20	who	who	PRON
fsr-3185	352	21	show	show	VERB
fsr-3185	352	22	how	how	SCONJ
fsr-3185	352	23	risk	risk	NOUN
fsr-3185	352	24	aversion	aversion	NOUN
fsr-3185	352	25	can	can	AUX
fsr-3185	352	26	be	be	AUX
fsr-3185	352	27	explained	explain	VERB
fsr-3185	352	28	by	by	ADP
fsr-3185	352	29	demographic	demographic	ADJ
fsr-3185	352	30	attributes	attribute	NOUN
fsr-3185	352	31	.	.	PUNCT
fsr-3185	353	1	thus	thus	ADV
fsr-3185	353	2	,	,	PUNCT
fsr-3185	353	3	financial	financial	ADJ
fsr-3185	353	4	planners	planner	NOUN
fsr-3185	353	5	should	should	AUX
fsr-3185	353	6	continue	continue	VERB
fsr-3185	353	7	to	to	PART
fsr-3185	353	8	thoroughly	thoroughly	ADV
fsr-3185	353	9	assess	assess	VERB
fsr-3185	353	10	the	the	DET
fsr-3185	353	11	risk	risk	NOUN
fsr-3185	353	12	tolerance	tolerance	NOUN
fsr-3185	353	13	levels	level	NOUN
fsr-3185	353	14	of	of	ADP
fsr-3185	353	15	their	their	PRON
fsr-3185	353	16	clients	client	NOUN
fsr-3185	353	17	as	as	SCONJ
fsr-3185	353	18	they	they	PRON
fsr-3185	353	19	recommend	recommend	VERB
fsr-3185	353	20	risky	risky	ADJ
fsr-3185	353	21	assets	asset	NOUN
fsr-3185	353	22	for	for	ADP
fsr-3185	353	23	their	their	PRON
fsr-3185	353	24	portfolios	portfolio	NOUN
fsr-3185	353	25	.	.	PUNCT
fsr-3185	354	1	individual	individual	ADJ
fsr-3185	354	2	investors	investor	NOUN
fsr-3185	354	3	should	should	AUX
fsr-3185	354	4	also	also	ADV
fsr-3185	354	5	recognize	recognize	VERB
fsr-3185	354	6	this	this	DET
fsr-3185	354	7	risk	risk	NOUN
fsr-3185	354	8	-	-	PUNCT
fsr-3185	354	9	return	return	NOUN
fsr-3185	354	10	relationship	relationship	NOUN
fsr-3185	354	11	and	and	CCONJ
fsr-3185	354	12	take	take	VERB
fsr-3185	354	13	the	the	DET
fsr-3185	354	14	necessary	necessary	ADJ
fsr-3185	354	15	steps	step	NOUN
fsr-3185	354	16	to	to	PART
fsr-3185	354	17	diversify	diversify	VERB
fsr-3185	354	18	their	their	PRON
fsr-3185	354	19	holdings	holding	NOUN
fsr-3185	354	20	,	,	PUNCT
fsr-3185	354	21	consider	consider	VERB
fsr-3185	354	22	risk	risk	NOUN
fsr-3185	354	23	-	-	PUNCT
fsr-3185	354	24	reduction	reduction	NOUN
fsr-3185	354	25	strategies	strategy	NOUN
fsr-3185	354	26	as	as	ADP
fsr-3185	354	27	they	they	PRON
fsr-3185	354	28	57m.a	57m.a	NUM
fsr-3185	354	29	.	.	PUNCT
fsr-3185	355	1	johnson	johnson	PROPN
fsr-3185	355	2	,	,	PUNCT
fsr-3185	355	3	a.	a.	PROPN
fsr-3185	355	4	naka	naka	PROPN
fsr-3185	355	5	/	/	SYM
fsr-3185	355	6	financial	financial	ADJ
fsr-3185	355	7	services	service	NOUN
fsr-3185	355	8	review	review	VERB
fsr-3185	355	9	23	23	NUM
fsr-3185	355	10	(	(	PUNCT
fsr-3185	355	11	2014	2014	NUM
fsr-3185	355	12	)	)	PUNCT
fsr-3185	355	13	45–61	45–61	NUM
fsr-3185	355	14	approach	approach	NOUN
fsr-3185	355	15	retirement	retirement	NOUN
fsr-3185	355	16	,	,	PUNCT
fsr-3185	355	17	and	and	CCONJ
fsr-3185	355	18	consider	consider	VERB
fsr-3185	355	19	seeking	seek	VERB
fsr-3185	355	20	professional	professional	ADJ
fsr-3185	355	21	investment	investment	NOUN
fsr-3185	355	22	assistance	assistance	NOUN
fsr-3185	355	23	to	to	PART
fsr-3185	355	24	ensure	ensure	VERB
fsr-3185	355	25	appropriate	appropriate	ADJ
fsr-3185	355	26	investing	investing	NOUN
fsr-3185	355	27	approaches	approach	NOUN
fsr-3185	355	28	.	.	PUNCT
fsr-3185	356	1	3.3	3.3	NUM
fsr-3185	356	2	.	.	PUNCT
fsr-3185	356	3	size	size	NOUN
fsr-3185	356	4	effects	effect	NOUN
fsr-3185	356	5	baker	baker	PROPN
fsr-3185	356	6	and	and	CCONJ
fsr-3185	356	7	wurgler	wurgler	PROPN
fsr-3185	356	8	(	(	PUNCT
fsr-3185	356	9	2006	2006	NUM
fsr-3185	356	10	)	)	PUNCT
fsr-3185	356	11	and	and	CCONJ
fsr-3185	356	12	lemmon	lemmon	PROPN
fsr-3185	356	13	and	and	CCONJ
fsr-3185	356	14	portniaguina	portniaguina	PROPN
fsr-3185	356	15	(	(	PUNCT
fsr-3185	356	16	2006	2006	NUM
fsr-3185	356	17	)	)	PUNCT
fsr-3185	356	18	find	find	VERB
fsr-3185	356	19	that	that	SCONJ
fsr-3185	356	20	sentiment	sentiment	NOUN
fsr-3185	356	21	has	have	VERB
fsr-3185	356	22	more	more	ADJ
fsr-3185	356	23	of	of	ADP
fsr-3185	356	24	an	an	DET
fsr-3185	356	25	impact	impact	NOUN
fsr-3185	356	26	on	on	ADP
fsr-3185	356	27	small	small	ADJ
fsr-3185	356	28	-	-	PUNCT
fsr-3185	356	29	firm	firm	NOUN
fsr-3185	356	30	stocks	stock	NOUN
fsr-3185	356	31	versus	versus	ADP
fsr-3185	356	32	large	large	ADJ
fsr-3185	356	33	-	-	PUNCT
fsr-3185	356	34	firm	firm	NOUN
fsr-3185	356	35	stocks	stock	NOUN
fsr-3185	356	36	.	.	PUNCT
fsr-3185	357	1	however	however	ADV
fsr-3185	357	2	,	,	PUNCT
fsr-3185	357	3	does	do	AUX
fsr-3185	357	4	this	this	DET
fsr-3185	357	5	noise	noise	NOUN
fsr-3185	357	6	trader	trader	NOUN
fsr-3185	357	7	argument	argument	NOUN
fsr-3185	357	8	hold	hold	VERB
fsr-3185	357	9	among	among	ADP
fsr-3185	357	10	changes	change	NOUN
fsr-3185	357	11	in	in	ADP
fsr-3185	357	12	consumer	consumer	NOUN
fsr-3185	357	13	sentiment	sentiment	NOUN
fsr-3185	357	14	for	for	ADP
fsr-3185	357	15	all	all	DET
fsr-3185	357	16	ages	age	NOUN
fsr-3185	357	17	?	?	PUNCT
fsr-3185	358	1	to	to	PART
fsr-3185	358	2	empirically	empirically	ADV
fsr-3185	358	3	test	test	VERB
fsr-3185	358	4	this	this	DET
fsr-3185	358	5	question	question	NOUN
fsr-3185	358	6	,	,	PUNCT
fsr-3185	358	7	we	we	PRON
fsr-3185	358	8	estimate	estimate	VERB
fsr-3185	358	9	eq	eq	ADP
fsr-3185	358	10	.	.	PUNCT
fsr-3185	359	1	(	(	PUNCT
fsr-3185	359	2	1	1	NUM
fsr-3185	359	3	)	)	PUNCT
fsr-3185	360	1	but	but	CCONJ
fsr-3185	360	2	use	use	VERB
fsr-3185	360	3	a	a	DET
fsr-3185	360	4	one	one	NUM
fsr-3185	360	5	month	month	NOUN
fsr-3185	360	6	forecast	forecast	NOUN
fsr-3185	360	7	horizon	horizon	NOUN
fsr-3185	360	8	(	(	PUNCT
fsr-3185	360	9	k	k	NOUN
fsr-3185	360	10	%	%	NOUN
fsr-3185	360	11	1	1	NUM
fsr-3185	360	12	)	)	PUNCT
fsr-3185	360	13	and	and	CCONJ
fsr-3185	360	14	use	use	VERB
fsr-3185	360	15	crsp	crsp	ADJ
fsr-3185	360	16	market	market	NOUN
fsr-3185	360	17	capitalization	capitalization	NOUN
fsr-3185	360	18	portfolios	portfolio	NOUN
fsr-3185	360	19	.	.	PUNCT
fsr-3185	361	1	the	the	DET
fsr-3185	361	2	dependent	dependent	ADJ
fsr-3185	361	3	variable	variable	NOUN
fsr-3185	361	4	in	in	ADP
fsr-3185	361	5	the	the	DET
fsr-3185	361	6	modified	modified	ADJ
fsr-3185	361	7	eq	eq	NOUN
fsr-3185	361	8	.	.	PUNCT
fsr-3185	362	1	(	(	PUNCT
fsr-3185	362	2	1	1	X
fsr-3185	362	3	)	)	PUNCT
fsr-3185	362	4	is	be	AUX
fsr-3185	362	5	the	the	DET
fsr-3185	362	6	stock	stock	NOUN
fsr-3185	362	7	return	return	NOUN
fsr-3185	362	8	of	of	ADP
fsr-3185	362	9	the	the	DET
fsr-3185	362	10	decile	decile	NOUN
fsr-3185	362	11	i	i	PRON
fsr-3185	362	12	portfolio	portfolio	NOUN
fsr-3185	362	13	minus	minus	ADP
fsr-3185	362	14	the	the	DET
fsr-3185	362	15	risk	risk	NOUN
fsr-3185	362	16	-	-	PUNCT
fsr-3185	362	17	free	free	ADJ
fsr-3185	362	18	rate	rate	NOUN
fsr-3185	362	19	,	,	PUNCT
fsr-3185	362	20	and	and	CCONJ
fsr-3185	362	21	the	the	DET
fsr-3185	362	22	independent	independent	ADJ
fsr-3185	362	23	variable	variable	NOUN
fsr-3185	362	24	is	be	AUX
fsr-3185	362	25	used	use	VERB
fsr-3185	362	26	and	and	CCONJ
fsr-3185	362	27	defined	define	VERB
fsr-3185	362	28	in	in	ADP
fsr-3185	362	29	the	the	DET
fsr-3185	362	30	same	same	ADJ
fsr-3185	362	31	manner	manner	NOUN
fsr-3185	362	32	as	as	ADP
fsr-3185	362	33	in	in	ADP
fsr-3185	362	34	eq	eq	ADP
fsr-3185	362	35	.	.	PUNCT
fsr-3185	363	1	(	(	PUNCT
fsr-3185	363	2	1	1	NUM
fsr-3185	363	3	)	)	PUNCT
fsr-3185	363	4	.	.	PUNCT
fsr-3185	364	1	crsp	crsp	PROPN
fsr-3185	364	2	segments	segment	VERB
fsr-3185	364	3	these	these	DET
fsr-3185	364	4	sized	sized	ADJ
fsr-3185	364	5	-	-	PUNCT
fsr-3185	364	6	sorted	sort	VERB
fsr-3185	364	7	decile	decile	NOUN
fsr-3185	364	8	portfolios	portfolio	NOUN
fsr-3185	364	9	into	into	ADP
fsr-3185	364	10	deciles	decile	NOUN
fsr-3185	364	11	based	base	VERB
fsr-3185	364	12	on	on	ADP
fsr-3185	364	13	a	a	DET
fsr-3185	364	14	firm	firm	NOUN
fsr-3185	364	15	’s	’s	PART
fsr-3185	364	16	market	market	NOUN
fsr-3185	364	17	capitalization	capitalization	NOUN
fsr-3185	364	18	,	,	PUNCT
fsr-3185	364	19	whereby	whereby	SCONJ
fsr-3185	364	20	small	small	ADJ
fsr-3185	364	21	firms	firm	NOUN
fsr-3185	364	22	will	will	AUX
fsr-3185	364	23	appear	appear	VERB
fsr-3185	364	24	in	in	ADP
fsr-3185	364	25	lower	low	ADJ
fsr-3185	364	26	decile	decile	NOUN
fsr-3185	364	27	portfolios	portfolio	NOUN
fsr-3185	364	28	and	and	CCONJ
fsr-3185	364	29	larger	large	ADJ
fsr-3185	364	30	firms	firm	NOUN
fsr-3185	364	31	appear	appear	VERB
fsr-3185	364	32	in	in	ADP
fsr-3185	364	33	higher	high	ADJ
fsr-3185	364	34	decile	decile	NOUN
fsr-3185	364	35	portfolios	portfolio	NOUN
fsr-3185	364	36	.	.	PUNCT
fsr-3185	365	1	table	table	NOUN
fsr-3185	365	2	5	5	NUM
fsr-3185	365	3	presents	present	VERB
fsr-3185	365	4	the	the	DET
fsr-3185	365	5	results	result	NOUN
fsr-3185	365	6	of	of	ADP
fsr-3185	365	7	the	the	DET
fsr-3185	365	8	size	size	NOUN
fsr-3185	365	9	effects	effect	NOUN
fsr-3185	365	10	.	.	PUNCT
fsr-3185	366	1	our	our	PRON
fsr-3185	366	2	findings	finding	NOUN
fsr-3185	366	3	are	be	AUX
fsr-3185	366	4	consistent	consistent	ADJ
fsr-3185	366	5	with	with	ADP
fsr-3185	366	6	lemmon	lemmon	PROPN
fsr-3185	366	7	and	and	CCONJ
fsr-3185	366	8	portniaguina	portniaguina	PROPN
fsr-3185	366	9	(	(	PUNCT
fsr-3185	366	10	2006	2006	NUM
fsr-3185	366	11	)	)	PUNCT
fsr-3185	366	12	and	and	CCONJ
fsr-3185	366	13	baker	baker	PROPN
fsr-3185	366	14	and	and	CCONJ
fsr-3185	366	15	wurgler	wurgler	PROPN
fsr-3185	366	16	(	(	PUNCT
fsr-3185	366	17	2006	2006	NUM
fsr-3185	366	18	)	)	PUNCT
fsr-3185	366	19	for	for	ADP
fsr-3185	366	20	all	all	DET
fsr-3185	366	21	age	age	NOUN
fsr-3185	366	22	groups	group	NOUN
fsr-3185	366	23	;	;	PUNCT
fsr-3185	366	24	smaller	small	ADJ
fsr-3185	366	25	firms	firm	NOUN
fsr-3185	366	26	’	’	PART
fsr-3185	366	27	market	market	NOUN
fsr-3185	366	28	risk	risk	NOUN
fsr-3185	366	29	premiums	premium	NOUN
fsr-3185	366	30	are	be	AUX
fsr-3185	366	31	affected	affect	VERB
fsr-3185	366	32	more	more	ADV
fsr-3185	366	33	by	by	ADP
fsr-3185	366	34	changes	change	NOUN
fsr-3185	366	35	in	in	ADP
fsr-3185	366	36	sentiment	sentiment	NOUN
fsr-3185	366	37	than	than	ADP
fsr-3185	366	38	those	those	PRON
fsr-3185	366	39	of	of	ADP
fsr-3185	366	40	larger	large	ADJ
fsr-3185	366	41	firms	firm	NOUN
fsr-3185	366	42	.	.	PUNCT
fsr-3185	367	1	for	for	ADP
fsr-3185	367	2	example	example	NOUN
fsr-3185	367	3	,	,	PUNCT
fsr-3185	367	4	the	the	DET
fsr-3185	367	5	coefficient	coefficient	NOUN
fsr-3185	367	6	for	for	ADP
fsr-3185	367	7	$	$	SYM
fsr-3185	367	8	csit	csit	NOUN
fsr-3185	367	9	for	for	ADP
fsr-3185	367	10	the	the	DET
fsr-3185	367	11	csi	csi	ADJ
fsr-3185	367	12	composite	composite	NOUN
fsr-3185	367	13	(	(	PUNCT
fsr-3185	367	14	panel	panel	NOUN
fsr-3185	367	15	a	a	PRON
fsr-3185	367	16	)	)	PUNCT
fsr-3185	367	17	is	be	AUX
fsr-3185	367	18	0.430	0.430	NUM
fsr-3185	367	19	for	for	ADP
fsr-3185	367	20	the	the	DET
fsr-3185	367	21	decile	decile	NOUN
fsr-3185	367	22	1	1	NUM
fsr-3185	367	23	portfolio	portfolio	NOUN
fsr-3185	367	24	and	and	CCONJ
fsr-3185	367	25	0.185	0.185	NUM
fsr-3185	367	26	for	for	ADP
fsr-3185	367	27	the	the	DET
fsr-3185	367	28	decile	decile	NOUN
fsr-3185	367	29	10	10	NUM
fsr-3185	367	30	portfolio	portfolio	NOUN
fsr-3185	367	31	.	.	PUNCT
fsr-3185	368	1	the	the	DET
fsr-3185	368	2	implication	implication	NOUN
fsr-3185	368	3	of	of	ADP
fsr-3185	368	4	this	this	PRON
fsr-3185	368	5	is	be	AUX
fsr-3185	368	6	important	important	ADJ
fsr-3185	368	7	,	,	PUNCT
fsr-3185	368	8	both	both	PRON
fsr-3185	368	9	statistically	statistically	ADV
fsr-3185	368	10	and	and	CCONJ
fsr-3185	368	11	economically	economically	ADV
fsr-3185	368	12	;	;	PUNCT
fsr-3185	368	13	a	a	DET
fsr-3185	368	14	10	10	NUM
fsr-3185	368	15	%	%	NOUN
fsr-3185	368	16	change	change	NOUN
fsr-3185	368	17	in	in	ADP
fsr-3185	368	18	overall	overall	ADJ
fsr-3185	368	19	consumer	consumer	NOUN
fsr-3185	368	20	sentiment	sentiment	NOUN
fsr-3185	368	21	(	(	PUNCT
fsr-3185	368	22	consumers	consumer	NOUN
fsr-3185	368	23	of	of	ADP
fsr-3185	368	24	all	all	DET
fsr-3185	368	25	ages	age	NOUN
fsr-3185	368	26	)	)	PUNCT
fsr-3185	368	27	results	result	NOUN
fsr-3185	368	28	in	in	ADP
fsr-3185	368	29	a	a	DET
fsr-3185	368	30	market	market	NOUN
fsr-3185	368	31	risk	risk	NOUN
fsr-3185	368	32	premium	premium	NOUN
fsr-3185	368	33	change	change	NOUN
fsr-3185	368	34	of	of	ADP
fsr-3185	368	35	4.30	4.30	NUM
fsr-3185	368	36	%	%	NOUN
fsr-3185	368	37	in	in	ADP
fsr-3185	368	38	the	the	DET
fsr-3185	368	39	following	following	ADJ
fsr-3185	368	40	month	month	NOUN
fsr-3185	368	41	for	for	ADP
fsr-3185	368	42	the	the	DET
fsr-3185	368	43	smallest	small	ADJ
fsr-3185	368	44	firms	firm	NOUN
fsr-3185	368	45	versus	versus	ADP
fsr-3185	368	46	a	a	DET
fsr-3185	368	47	market	market	NOUN
fsr-3185	368	48	risk	risk	NOUN
fsr-3185	368	49	premium	premium	NOUN
fsr-3185	368	50	change	change	NOUN
fsr-3185	368	51	of	of	ADP
fsr-3185	368	52	1.85	1.85	NUM
fsr-3185	368	53	%	%	NOUN
fsr-3185	368	54	for	for	ADP
fsr-3185	368	55	the	the	DET
fsr-3185	368	56	largest	large	ADJ
fsr-3185	368	57	firms	firm	NOUN
fsr-3185	368	58	.	.	PUNCT
fsr-3185	369	1	lee	lee	PROPN
fsr-3185	369	2	,	,	PUNCT
fsr-3185	369	3	shleifer	shleifer	VERB
fsr-3185	369	4	,	,	PUNCT
fsr-3185	369	5	and	and	CCONJ
fsr-3185	369	6	thaler	thaler	NOUN
fsr-3185	369	7	(	(	PUNCT
fsr-3185	369	8	1991	1991	NUM
fsr-3185	369	9	)	)	PUNCT
fsr-3185	369	10	suggest	suggest	VERB
fsr-3185	369	11	that	that	SCONJ
fsr-3185	369	12	small	small	ADJ
fsr-3185	369	13	-	-	PUNCT
fsr-3185	369	14	cap	cap	NOUN
fsr-3185	369	15	stocks	stock	NOUN
fsr-3185	369	16	are	be	AUX
fsr-3185	369	17	more	more	ADV
fsr-3185	369	18	closely	closely	ADV
fsr-3185	369	19	followed	follow	VERB
fsr-3185	369	20	by	by	ADP
fsr-3185	369	21	individual	individual	ADJ
fsr-3185	369	22	investors	investor	NOUN
fsr-3185	369	23	.	.	PUNCT
fsr-3185	370	1	this	this	DET
fsr-3185	370	2	size	size	NOUN
fsr-3185	370	3	effect	effect	NOUN
fsr-3185	370	4	is	be	AUX
fsr-3185	370	5	,	,	PUNCT
fsr-3185	370	6	for	for	ADP
fsr-3185	370	7	the	the	DET
fsr-3185	370	8	most	most	ADJ
fsr-3185	370	9	part	part	NOUN
fsr-3185	370	10	,	,	PUNCT
fsr-3185	370	11	linear	linear	ADJ
fsr-3185	370	12	in	in	SCONJ
fsr-3185	370	13	that	that	SCONJ
fsr-3185	370	14	the	the	DET
fsr-3185	370	15	smallest	small	ADJ
fsr-3185	370	16	firms	firm	NOUN
fsr-3185	370	17	are	be	AUX
fsr-3185	370	18	affected	affect	VERB
fsr-3185	370	19	the	the	DET
fsr-3185	370	20	most	most	ADJ
fsr-3185	370	21	and	and	CCONJ
fsr-3185	370	22	this	this	DET
fsr-3185	370	23	effect	effect	NOUN
fsr-3185	370	24	gradually	gradually	ADV
fsr-3185	370	25	decreases	decrease	VERB
fsr-3185	370	26	as	as	ADP
fsr-3185	370	27	firm	firm	ADJ
fsr-3185	370	28	size	size	NOUN
fsr-3185	370	29	increases	increase	NOUN
fsr-3185	370	30	.	.	PUNCT
fsr-3185	371	1	this	this	DET
fsr-3185	371	2	pattern	pattern	NOUN
fsr-3185	371	3	is	be	AUX
fsr-3185	371	4	true	true	ADJ
fsr-3185	371	5	for	for	ADP
fsr-3185	371	6	changes	change	NOUN
fsr-3185	371	7	in	in	ADP
fsr-3185	371	8	consumer	consumer	NOUN
fsr-3185	371	9	sentiment	sentiment	NOUN
fsr-3185	371	10	for	for	ADP
fsr-3185	371	11	all	all	DET
fsr-3185	371	12	age	age	NOUN
fsr-3185	371	13	groups	group	NOUN
fsr-3185	371	14	.	.	PUNCT
fsr-3185	372	1	our	our	PRON
fsr-3185	372	2	finding	finding	NOUN
fsr-3185	372	3	thus	thus	ADV
fsr-3185	372	4	confirms	confirm	VERB
fsr-3185	372	5	to	to	ADP
fsr-3185	372	6	individual	individual	ADJ
fsr-3185	372	7	investors	investor	NOUN
fsr-3185	372	8	and	and	CCONJ
fsr-3185	372	9	financial	financial	ADJ
fsr-3185	372	10	planners	planner	NOUN
fsr-3185	372	11	that	that	SCONJ
fsr-3185	372	12	investing	invest	VERB
fsr-3185	372	13	in	in	ADP
fsr-3185	372	14	small	small	ADJ
fsr-3185	372	15	-	-	PUNCT
fsr-3185	372	16	cap	cap	NOUN
fsr-3185	372	17	stocks	stock	NOUN
fsr-3185	372	18	can	can	AUX
fsr-3185	372	19	be	be	AUX
fsr-3185	372	20	risky	risky	ADJ
fsr-3185	372	21	and	and	CCONJ
fsr-3185	372	22	proper	proper	ADJ
fsr-3185	372	23	risk	risk	NOUN
fsr-3185	372	24	-	-	PUNCT
fsr-3185	372	25	return	return	NOUN
fsr-3185	372	26	tradeoff	tradeoff	NOUN
fsr-3185	372	27	analyses	analysis	NOUN
fsr-3185	372	28	must	must	AUX
fsr-3185	372	29	be	be	AUX
fsr-3185	372	30	performed	perform	VERB
fsr-3185	372	31	to	to	PART
fsr-3185	372	32	confirm	confirm	VERB
fsr-3185	372	33	suitability	suitability	NOUN
fsr-3185	372	34	for	for	ADP
fsr-3185	372	35	one	one	NUM
fsr-3185	372	36	’s	’s	PART
fsr-3185	372	37	portfolio	portfolio	NOUN
fsr-3185	372	38	and	and	CCONJ
fsr-3185	372	39	risk	risk	VERB
fsr-3185	372	40	tolerance	tolerance	NOUN
fsr-3185	372	41	.	.	PUNCT
fsr-3185	373	1	4	4	X
fsr-3185	373	2	.	.	X
fsr-3185	373	3	concluding	conclude	VERB
fsr-3185	373	4	remarks	remark	NOUN
fsr-3185	373	5	in	in	ADP
fsr-3185	373	6	this	this	DET
fsr-3185	373	7	article	article	NOUN
fsr-3185	373	8	,	,	PUNCT
fsr-3185	373	9	we	we	PRON
fsr-3185	373	10	examine	examine	VERB
fsr-3185	373	11	the	the	DET
fsr-3185	373	12	ability	ability	NOUN
fsr-3185	373	13	of	of	ADP
fsr-3185	373	14	consumer	consumer	NOUN
fsr-3185	373	15	sentiment	sentiment	NOUN
fsr-3185	373	16	to	to	PART
fsr-3185	373	17	forecast	forecast	VERB
fsr-3185	373	18	short	short	ADJ
fsr-3185	373	19	-	-	PUNCT
fsr-3185	373	20	term	term	NOUN
fsr-3185	373	21	as	as	ADV
fsr-3185	373	22	well	well	ADV
fsr-3185	373	23	as	as	ADP
fsr-3185	373	24	long	long	ADJ
fsr-3185	373	25	-	-	PUNCT
fsr-3185	373	26	term	term	NOUN
fsr-3185	373	27	equity	equity	NOUN
fsr-3185	373	28	returns	return	NOUN
fsr-3185	373	29	and	and	CCONJ
fsr-3185	373	30	whether	whether	SCONJ
fsr-3185	373	31	or	or	CCONJ
fsr-3185	373	32	not	not	PART
fsr-3185	373	33	negative	negative	ADJ
fsr-3185	373	34	sentiment	sentiment	NOUN
fsr-3185	373	35	has	have	VERB
fsr-3185	373	36	a	a	DET
fsr-3185	373	37	larger	large	ADJ
fsr-3185	373	38	effect	effect	NOUN
fsr-3185	373	39	on	on	ADP
fsr-3185	373	40	the	the	DET
fsr-3185	373	41	returns	return	NOUN
fsr-3185	373	42	than	than	ADP
fsr-3185	373	43	positive	positive	ADJ
fsr-3185	373	44	sentiment	sentiment	NOUN
fsr-3185	373	45	for	for	ADP
fsr-3185	373	46	three	three	NUM
fsr-3185	373	47	different	different	ADJ
fsr-3185	373	48	age	age	NOUN
fsr-3185	373	49	groups	group	NOUN
fsr-3185	373	50	.	.	PUNCT
fsr-3185	374	1	we	we	PRON
fsr-3185	374	2	observe	observe	VERB
fsr-3185	374	3	that	that	SCONJ
fsr-3185	374	4	negative	negative	ADJ
fsr-3185	374	5	changes	change	NOUN
fsr-3185	374	6	in	in	ADP
fsr-3185	374	7	sentiment	sentiment	NOUN
fsr-3185	374	8	have	have	VERB
fsr-3185	374	9	a	a	DET
fsr-3185	374	10	greater	great	ADJ
fsr-3185	374	11	influence	influence	NOUN
fsr-3185	374	12	on	on	ADP
fsr-3185	374	13	stock	stock	NOUN
fsr-3185	374	14	returns	return	NOUN
fsr-3185	374	15	than	than	ADP
fsr-3185	374	16	positive	positive	ADJ
fsr-3185	374	17	changes	change	NOUN
fsr-3185	374	18	in	in	ADP
fsr-3185	374	19	sentiment	sentiment	NOUN
fsr-3185	374	20	.	.	PUNCT
fsr-3185	375	1	further	far	ADV
fsr-3185	375	2	,	,	PUNCT
fsr-3185	375	3	sentiment	sentiment	NOUN
fsr-3185	375	4	is	be	AUX
fsr-3185	375	5	more	more	ADV
fsr-3185	375	6	effective	effective	ADJ
fsr-3185	375	7	forecasting	forecast	VERB
fsr-3185	375	8	short	short	ADJ
fsr-3185	375	9	-	-	PUNCT
fsr-3185	375	10	term	term	NOUN
fsr-3185	375	11	holding	hold	VERB
fsr-3185	375	12	period	period	NOUN
fsr-3185	375	13	returns	return	NOUN
fsr-3185	375	14	than	than	ADP
fsr-3185	375	15	long	long	ADJ
fsr-3185	375	16	-	-	PUNCT
fsr-3185	375	17	term	term	NOUN
fsr-3185	375	18	holding	hold	VERB
fsr-3185	375	19	period	period	NOUN
fsr-3185	375	20	returns	return	NOUN
fsr-3185	375	21	,	,	PUNCT
fsr-3185	375	22	and	and	CCONJ
fsr-3185	375	23	these	these	DET
fsr-3185	375	24	results	result	NOUN
fsr-3185	375	25	are	be	AUX
fsr-3185	375	26	consistent	consistent	ADJ
fsr-3185	375	27	across	across	ADP
fsr-3185	375	28	all	all	DET
fsr-3185	375	29	ages	age	NOUN
fsr-3185	375	30	.	.	PUNCT
fsr-3185	376	1	these	these	DET
fsr-3185	376	2	empirical	empirical	ADJ
fsr-3185	376	3	findings	finding	NOUN
fsr-3185	376	4	are	be	AUX
fsr-3185	376	5	consistent	consistent	ADJ
fsr-3185	376	6	with	with	ADP
fsr-3185	376	7	the	the	DET
fsr-3185	376	8	documented	document	VERB
fsr-3185	376	9	behavior	behavior	NOUN
fsr-3185	376	10	that	that	PRON
fsr-3185	376	11	agents	agent	NOUN
fsr-3185	376	12	place	place	VERB
fsr-3185	376	13	greater	great	ADJ
fsr-3185	376	14	weight	weight	NOUN
fsr-3185	376	15	on	on	ADP
fsr-3185	376	16	downside	downside	ADJ
fsr-3185	376	17	risk	risk	NOUN
fsr-3185	376	18	than	than	SCONJ
fsr-3185	376	19	they	they	PRON
fsr-3185	376	20	place	place	VERB
fsr-3185	376	21	on	on	ADP
fsr-3185	376	22	upside	upside	ADJ
fsr-3185	376	23	gains	gain	NOUN
fsr-3185	376	24	,	,	PUNCT
fsr-3185	376	25	and	and	CCONJ
fsr-3185	376	26	are	be	AUX
fsr-3185	376	27	agreeable	agreeable	ADJ
fsr-3185	376	28	with	with	ADP
fsr-3185	376	29	the	the	DET
fsr-3185	376	30	notion	notion	NOUN
fsr-3185	376	31	of	of	ADP
fsr-3185	376	32	the	the	DET
fsr-3185	376	33	prospect	prospect	NOUN
fsr-3185	376	34	theory	theory	NOUN
fsr-3185	376	35	proposed	propose	VERB
fsr-3185	376	36	by	by	ADP
fsr-3185	376	37	kahneman	kahneman	NOUN
fsr-3185	376	38	and	and	CCONJ
fsr-3185	376	39	tversky	tversky	PROPN
fsr-3185	376	40	(	(	PUNCT
fsr-3185	376	41	1979	1979	NUM
fsr-3185	376	42	)	)	PUNCT
fsr-3185	376	43	.	.	PUNCT
fsr-3185	377	1	our	our	PRON
fsr-3185	377	2	results	result	NOUN
fsr-3185	377	3	also	also	ADV
fsr-3185	377	4	document	document	VERB
fsr-3185	377	5	a	a	DET
fsr-3185	377	6	difference	difference	NOUN
fsr-3185	377	7	in	in	ADP
fsr-3185	377	8	age	age	NOUN
fsr-3185	377	9	groups	group	NOUN
fsr-3185	377	10	’	’	PART
fsr-3185	377	11	sentiment	sentiment	NOUN
fsr-3185	377	12	,	,	PUNCT
fsr-3185	377	13	and	and	CCONJ
fsr-3185	377	14	that	that	SCONJ
fsr-3185	377	15	younger	young	ADJ
fsr-3185	377	16	individuals	individual	NOUN
fsr-3185	377	17	appear	appear	VERB
fsr-3185	377	18	to	to	PART
fsr-3185	377	19	be	be	AUX
fsr-3185	377	20	less	less	ADJ
fsr-3185	377	21	risk	risk	NOUN
fsr-3185	377	22	-	-	PUNCT
fsr-3185	377	23	averse	averse	ADJ
fsr-3185	377	24	than	than	ADP
fsr-3185	377	25	older	old	ADJ
fsr-3185	377	26	individuals	individual	NOUN
fsr-3185	377	27	.	.	PUNCT
fsr-3185	378	1	the	the	DET
fsr-3185	378	2	finding	finding	NOUN
fsr-3185	378	3	supports	support	VERB
fsr-3185	378	4	the	the	DET
fsr-3185	378	5	58	58	NUM
fsr-3185	378	6	m.a	m.a	PROPN
fsr-3185	378	7	.	.	PROPN
fsr-3185	378	8	johnson	johnson	PROPN
fsr-3185	378	9	,	,	PUNCT
fsr-3185	378	10	a.	a.	PROPN
fsr-3185	378	11	naka	naka	PROPN
fsr-3185	378	12	/	/	SYM
fsr-3185	378	13	financial	financial	ADJ
fsr-3185	378	14	services	service	NOUN
fsr-3185	378	15	review	review	VERB
fsr-3185	378	16	23	23	NUM
fsr-3185	378	17	(	(	PUNCT
fsr-3185	378	18	2014	2014	NUM
fsr-3185	378	19	)	)	PUNCT
fsr-3185	378	20	45–61	45–61	NUM
fsr-3185	378	21	existing	exist	VERB
fsr-3185	378	22	literature	literature	NOUN
fsr-3185	378	23	and	and	CCONJ
fsr-3185	378	24	the	the	DET
fsr-3185	378	25	concept	concept	NOUN
fsr-3185	378	26	of	of	ADP
fsr-3185	378	27	the	the	DET
fsr-3185	378	28	life	life	NOUN
fsr-3185	378	29	cycle	cycle	NOUN
fsr-3185	378	30	investment	investment	NOUN
fsr-3185	378	31	hypothesis	hypothesis	NOUN
fsr-3185	378	32	.	.	PUNCT
fsr-3185	379	1	finally	finally	ADV
fsr-3185	379	2	,	,	PUNCT
fsr-3185	379	3	we	we	PRON
fsr-3185	379	4	present	present	VERB
fsr-3185	379	5	additional	additional	ADJ
fsr-3185	379	6	evidence	evidence	NOUN
fsr-3185	379	7	for	for	ADP
fsr-3185	379	8	the	the	DET
fsr-3185	379	9	notion	notion	NOUN
fsr-3185	379	10	that	that	SCONJ
fsr-3185	379	11	the	the	DET
fsr-3185	379	12	risk	risk	NOUN
fsr-3185	379	13	premiums	premium	NOUN
fsr-3185	379	14	of	of	ADP
fsr-3185	379	15	smaller	small	ADJ
fsr-3185	379	16	firms	firm	NOUN
fsr-3185	379	17	are	be	AUX
fsr-3185	379	18	more	more	ADV
fsr-3185	379	19	affected	affect	VERB
fsr-3185	379	20	by	by	ADP
fsr-3185	379	21	sentiment	sentiment	NOUN
fsr-3185	379	22	than	than	ADP
fsr-3185	379	23	larger	large	ADJ
fsr-3185	379	24	firms	firm	NOUN
fsr-3185	379	25	;	;	PUNCT
fsr-3185	379	26	a	a	DET
fsr-3185	379	27	result	result	NOUN
fsr-3185	379	28	that	that	PRON
fsr-3185	379	29	is	be	AUX
fsr-3185	379	30	in	in	ADP
fsr-3185	379	31	line	line	NOUN
fsr-3185	379	32	with	with	ADP
fsr-3185	379	33	the	the	DET
fsr-3185	379	34	noise	noise	NOUN
fsr-3185	379	35	trader	trader	NOUN
fsr-3185	379	36	hypothesis	hypothesis	NOUN
fsr-3185	379	37	.	.	PUNCT
fsr-3185	380	1	we	we	PRON
fsr-3185	380	2	provide	provide	VERB
fsr-3185	380	3	evidence	evidence	NOUN
fsr-3185	380	4	that	that	PRON
fsr-3185	380	5	reminds	remind	VERB
fsr-3185	380	6	individual	individual	ADJ
fsr-3185	380	7	investors	investor	NOUN
fsr-3185	380	8	and	and	CCONJ
fsr-3185	380	9	financial	financial	ADJ
fsr-3185	380	10	planners	planner	NOUN
fsr-3185	380	11	that	that	PRON
fsr-3185	380	12	risk	risk	NOUN
fsr-3185	380	13	is	be	AUX
fsr-3185	380	14	an	an	DET
fsr-3185	380	15	important	important	ADJ
fsr-3185	380	16	consideration	consideration	NOUN
fsr-3185	380	17	when	when	SCONJ
fsr-3185	380	18	investing	invest	VERB
fsr-3185	380	19	.	.	PUNCT
fsr-3185	381	1	moreover	moreover	ADV
fsr-3185	381	2	,	,	PUNCT
fsr-3185	381	3	demographic	demographic	ADJ
fsr-3185	381	4	characteristics	characteristic	NOUN
fsr-3185	381	5	such	such	ADJ
fsr-3185	381	6	as	as	ADP
fsr-3185	381	7	age	age	NOUN
fsr-3185	381	8	matter	matter	NOUN
fsr-3185	381	9	when	when	SCONJ
fsr-3185	381	10	determining	determine	VERB
fsr-3185	381	11	appropriate	appropriate	ADJ
fsr-3185	381	12	investing	investing	NOUN
fsr-3185	381	13	approaches	approach	NOUN
fsr-3185	381	14	and	and	CCONJ
fsr-3185	381	15	risk	risk	NOUN
fsr-3185	381	16	tolerance	tolerance	NOUN
fsr-3185	381	17	.	.	PUNCT
fsr-3185	382	1	this	this	DET
fsr-3185	382	2	article	article	NOUN
fsr-3185	382	3	applies	apply	VERB
fsr-3185	382	4	well	well	ADV
fsr-3185	382	5	-	-	PUNCT
fsr-3185	382	6	known	know	VERB
fsr-3185	382	7	concepts	concept	NOUN
fsr-3185	382	8	in	in	ADP
fsr-3185	382	9	behavioral	behavioral	ADJ
fsr-3185	382	10	economics	economic	NOUN
fsr-3185	382	11	and	and	CCONJ
fsr-3185	382	12	finance	finance	NOUN
fsr-3185	382	13	,	,	PUNCT
fsr-3185	382	14	and	and	CCONJ
fsr-3185	382	15	deepens	deepen	VERB
fsr-3185	382	16	our	our	PRON
fsr-3185	382	17	understanding	understanding	NOUN
fsr-3185	382	18	of	of	ADP
fsr-3185	382	19	the	the	DET
fsr-3185	382	20	relationship	relationship	NOUN
fsr-3185	382	21	and	and	CCONJ
fsr-3185	382	22	importance	importance	NOUN
fsr-3185	382	23	of	of	ADP
fsr-3185	382	24	consumer	consumer	NOUN
fsr-3185	382	25	sentiment	sentiment	NOUN
fsr-3185	382	26	in	in	ADP
fsr-3185	382	27	evaluating	evaluate	VERB
fsr-3185	382	28	the	the	DET
fsr-3185	382	29	equity	equity	NOUN
fsr-3185	382	30	returns	return	NOUN
fsr-3185	382	31	.	.	PUNCT
fsr-3185	383	1	table	table	NOUN
fsr-3185	383	2	5	5	NUM
fsr-3185	383	3	size	size	NOUN
fsr-3185	383	4	effects	effect	NOUN
fsr-3185	383	5	approach	approach	NOUN
fsr-3185	383	6	decile	decile	NOUN
fsr-3185	383	7	1	1	NUM
fsr-3185	383	8	decile	decile	NOUN
fsr-3185	383	9	2	2	NUM
fsr-3185	383	10	decile	decile	NOUN
fsr-3185	383	11	3	3	NUM
fsr-3185	383	12	decile	decile	NOUN
fsr-3185	383	13	4	4	NUM
fsr-3185	383	14	decile	decile	NOUN
fsr-3185	383	15	5	5	NUM
fsr-3185	383	16	decile	decile	NOUN
fsr-3185	383	17	6	6	NUM
fsr-3185	383	18	decile	decile	NOUN
fsr-3185	383	19	7	7	NUM
fsr-3185	383	20	decile	decile	NOUN
fsr-3185	383	21	8	8	NUM
fsr-3185	383	22	decile	decile	NOUN
fsr-3185	383	23	9	9	NUM
fsr-3185	383	24	decile	decile	NOUN
fsr-3185	383	25	10	10	NUM
fsr-3185	383	26	panel	panel	NOUN
fsr-3185	383	27	a	a	PRON
fsr-3185	383	28	:	:	PUNCT
fsr-3185	383	29	all	all	DET
fsr-3185	383	30	age	age	NOUN
fsr-3185	383	31	groups	group	NOUN
fsr-3185	383	32	:	:	PUNCT
fsr-3185	383	33	csi	csi	PROPN
fsr-3185	383	34	composite	composite	ADJ
fsr-3185	383	35	intercept	intercept	NOUN
fsr-3185	383	36	#	#	NOUN
fsr-3185	383	37	0.009	0.009	NUM
fsr-3185	383	38	0.007	0.007	NUM
fsr-3185	383	39	0.008	0.008	NUM
fsr-3185	383	40	0.007	0.007	NUM
fsr-3185	383	41	0.008	0.008	NUM
fsr-3185	383	42	0.008	0.008	NUM
fsr-3185	383	43	0.008	0.008	NUM
fsr-3185	383	44	0.007	0.007	NUM
fsr-3185	383	45	0.007	0.007	NUM
fsr-3185	383	46	0.006	0.006	NUM
fsr-3185	383	47	se	se	X
fsr-3185	383	48	(	(	PUNCT
fsr-3185	383	49	0.004	0.004	NUM
fsr-3185	383	50	)	)	PUNCT
fsr-3185	383	51	(	(	PUNCT
fsr-3185	383	52	0.003	0.003	NUM
fsr-3185	383	53	)	)	PUNCT
fsr-3185	383	54	(	(	PUNCT
fsr-3185	383	55	0.003	0.003	NUM
fsr-3185	383	56	)	)	PUNCT
fsr-3185	383	57	(	(	PUNCT
fsr-3185	383	58	0.003	0.003	NUM
fsr-3185	383	59	)	)	PUNCT
fsr-3185	383	60	(	(	PUNCT
fsr-3185	383	61	0.003	0.003	NUM
fsr-3185	383	62	)	)	PUNCT
fsr-3185	383	63	(	(	PUNCT
fsr-3185	383	64	0.003	0.003	NUM
fsr-3185	383	65	)	)	PUNCT
fsr-3185	383	66	(	(	PUNCT
fsr-3185	383	67	0.003	0.003	NUM
fsr-3185	383	68	)	)	PUNCT
fsr-3185	383	69	(	(	PUNCT
fsr-3185	383	70	0.003	0.003	NUM
fsr-3185	383	71	)	)	PUNCT
fsr-3185	383	72	(	(	PUNCT
fsr-3185	383	73	0.003	0.003	NUM
fsr-3185	383	74	)	)	PUNCT
fsr-3185	383	75	(	(	PUNCT
fsr-3185	383	76	0.002	0.002	NUM
fsr-3185	383	77	)	)	PUNCT
fsr-3185	383	78	p	p	NOUN
fsr-3185	383	79	value	value	NOUN
fsr-3185	383	80	[	[	X
fsr-3185	383	81	0.008	0.008	NUM
fsr-3185	383	82	]	]	PUNCT
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fsr-3185	383	84	0.032	0.032	NUM
fsr-3185	383	85	]	]	PUNCT
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fsr-3185	384	3	]	]	X
fsr-3185	385	1	[	[	X
fsr-3185	385	2	0.011	0.011	NUM
fsr-3185	385	3	]	]	X
fsr-3185	386	1	[	[	X
fsr-3185	386	2	0.007	0.007	X
fsr-3185	386	3	]	]	X
fsr-3185	387	1	[	[	X
fsr-3185	387	2	0.004	0.004	X
fsr-3185	387	3	]	]	X
fsr-3185	388	1	[	[	X
fsr-3185	388	2	0.004	0.004	X
fsr-3185	388	3	]	]	PUNCT
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fsr-3185	389	3	]	]	X
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fsr-3185	390	6	]	]	PUNCT
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fsr-3185	390	15	0.270	0.270	NUM
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fsr-3185	390	17	0.225	0.225	NUM
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fsr-3185	390	19	se	se	X
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fsr-3185	390	22	)	)	PUNCT
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fsr-3185	390	25	)	)	PUNCT
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fsr-3185	390	28	)	)	PUNCT
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fsr-3185	390	31	)	)	PUNCT
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fsr-3185	390	34	)	)	PUNCT
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fsr-3185	390	37	)	)	PUNCT
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fsr-3185	390	40	)	)	PUNCT
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fsr-3185	390	43	)	)	PUNCT
fsr-3185	390	44	(	(	PUNCT
fsr-3185	390	45	0.066	0.066	NUM
fsr-3185	390	46	)	)	PUNCT
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fsr-3185	390	48	0.055	0.055	NUM
fsr-3185	390	49	)	)	PUNCT
fsr-3185	390	50	p	p	NOUN
fsr-3185	390	51	value	value	NOUN
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fsr-3185	391	3	]	]	X
fsr-3185	392	1	[	[	X
fsr-3185	392	2	0.000	0.000	X
fsr-3185	392	3	]	]	X
fsr-3185	393	1	[	[	X
fsr-3185	393	2	0.000	0.000	X
fsr-3185	393	3	]	]	X
fsr-3185	394	1	[	[	X
fsr-3185	394	2	0.000	0.000	X
fsr-3185	394	3	]	]	X
fsr-3185	395	1	[	[	X
fsr-3185	395	2	0.000	0.000	X
fsr-3185	395	3	]	]	X
fsr-3185	396	1	[	[	X
fsr-3185	396	2	0.000	0.000	X
fsr-3185	396	3	]	]	X
fsr-3185	397	1	[	[	X
fsr-3185	397	2	0.000	0.000	X
fsr-3185	397	3	]	]	X
fsr-3185	398	1	[	[	X
fsr-3185	398	2	0.000	0.000	X
fsr-3185	398	3	]	]	X
fsr-3185	399	1	[	[	X
fsr-3185	399	2	0.001	0.001	NUM
fsr-3185	399	3	]	]	X
fsr-3185	399	4	[	[	X
fsr-3185	399	5	0.001	0.001	NUM
fsr-3185	399	6	]	]	PUNCT
fsr-3185	399	7	panel	panel	NOUN
fsr-3185	399	8	b	b	NOUN
fsr-3185	399	9	:	:	PUNCT
fsr-3185	399	10	age	age	NOUN
fsr-3185	399	11	group	group	NOUN
fsr-3185	399	12	18–34	18–34	NUM
fsr-3185	399	13	years	year	NOUN
fsr-3185	399	14	old	old	ADJ
fsr-3185	399	15	intercept	intercept	NOUN
fsr-3185	399	16	#	#	NOUN
fsr-3185	399	17	0.009	0.009	NUM
fsr-3185	399	18	0.007	0.007	NUM
fsr-3185	399	19	0.008	0.008	NUM
fsr-3185	399	20	0.007	0.007	NUM
fsr-3185	399	21	0.008	0.008	NUM
fsr-3185	399	22	0.008	0.008	NUM
fsr-3185	399	23	0.008	0.008	NUM
fsr-3185	399	24	0.007	0.007	NUM
fsr-3185	399	25	0.007	0.007	NUM
fsr-3185	399	26	0.006	0.006	NUM
fsr-3185	399	27	se	se	X
fsr-3185	399	28	(	(	PUNCT
fsr-3185	399	29	0.004	0.004	NUM
fsr-3185	399	30	)	)	PUNCT
fsr-3185	399	31	(	(	PUNCT
fsr-3185	399	32	0.003	0.003	NUM
fsr-3185	399	33	)	)	PUNCT
fsr-3185	399	34	(	(	PUNCT
fsr-3185	399	35	0.003	0.003	NUM
fsr-3185	399	36	)	)	PUNCT
fsr-3185	399	37	(	(	PUNCT
fsr-3185	399	38	0.003	0.003	NUM
fsr-3185	399	39	)	)	PUNCT
fsr-3185	399	40	(	(	PUNCT
fsr-3185	399	41	0.003	0.003	NUM
fsr-3185	399	42	)	)	PUNCT
fsr-3185	399	43	(	(	PUNCT
fsr-3185	399	44	0.003	0.003	NUM
fsr-3185	399	45	)	)	PUNCT
fsr-3185	399	46	(	(	PUNCT
fsr-3185	399	47	0.003	0.003	NUM
fsr-3185	399	48	)	)	PUNCT
fsr-3185	399	49	(	(	PUNCT
fsr-3185	399	50	0.003	0.003	NUM
fsr-3185	399	51	)	)	PUNCT
fsr-3185	399	52	(	(	PUNCT
fsr-3185	399	53	0.003	0.003	NUM
fsr-3185	399	54	)	)	PUNCT
fsr-3185	399	55	(	(	PUNCT
fsr-3185	399	56	0.002	0.002	NUM
fsr-3185	399	57	)	)	PUNCT
fsr-3185	399	58	p	p	NOUN
fsr-3185	399	59	value	value	NOUN
fsr-3185	399	60	[	[	X
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fsr-3185	399	62	]	]	X
fsr-3185	400	1	[	[	X
fsr-3185	400	2	0.041	0.041	NUM
fsr-3185	400	3	]	]	X
fsr-3185	401	1	[	[	X
fsr-3185	401	2	0.013	0.013	X
fsr-3185	401	3	]	]	X
fsr-3185	402	1	[	[	X
fsr-3185	402	2	0.014	0.014	X
fsr-3185	402	3	]	]	X
fsr-3185	403	1	[	[	X
fsr-3185	403	2	0.010	0.010	NUM
fsr-3185	403	3	]	]	X
fsr-3185	404	1	[	[	X
fsr-3185	404	2	0.006	0.006	NUM
fsr-3185	404	3	]	]	PUNCT
fsr-3185	405	1	[	[	X
fsr-3185	405	2	0.005	0.005	NUM
fsr-3185	405	3	]	]	X
fsr-3185	406	1	[	[	X
fsr-3185	406	2	0.011	0.011	NUM
fsr-3185	406	3	]	]	X
fsr-3185	407	1	[	[	X
fsr-3185	407	2	0.009	0.009	NUM
fsr-3185	407	3	]	]	X
fsr-3185	407	4	[	[	X
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fsr-3185	407	6	]	]	PUNCT
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fsr-3185	407	8	$	$	SYM
fsr-3185	407	9	0.252	0.252	NUM
fsr-3185	407	10	0.247	0.247	NUM
fsr-3185	407	11	0.219	0.219	NUM
fsr-3185	407	12	0.202	0.202	NUM
fsr-3185	407	13	0.186	0.186	NUM
fsr-3185	407	14	0.165	0.165	NUM
fsr-3185	407	15	0.153	0.153	NUM
fsr-3185	407	16	0.145	0.145	NUM
fsr-3185	407	17	0.139	0.139	NUM
fsr-3185	407	18	0.121	0.121	NUM
fsr-3185	407	19	se	se	X
fsr-3185	407	20	(	(	PUNCT
fsr-3185	407	21	0.060	0.060	NUM
fsr-3185	407	22	)	)	PUNCT
fsr-3185	407	23	(	(	PUNCT
fsr-3185	407	24	0.061	0.061	NUM
fsr-3185	407	25	)	)	PUNCT
fsr-3185	407	26	(	(	PUNCT
fsr-3185	407	27	0.060	0.060	NUM
fsr-3185	407	28	)	)	PUNCT
fsr-3185	407	29	(	(	PUNCT
fsr-3185	407	30	0.058	0.058	NUM
fsr-3185	407	31	)	)	PUNCT
fsr-3185	407	32	(	(	PUNCT
fsr-3185	407	33	0.057	0.057	NUM
fsr-3185	407	34	)	)	PUNCT
fsr-3185	407	35	(	(	PUNCT
fsr-3185	407	36	0.053	0.053	NUM
fsr-3185	407	37	)	)	PUNCT
fsr-3185	407	38	(	(	PUNCT
fsr-3185	407	39	0.053	0.053	NUM
fsr-3185	407	40	)	)	PUNCT
fsr-3185	407	41	(	(	PUNCT
fsr-3185	407	42	0.051	0.051	NUM
fsr-3185	407	43	)	)	PUNCT
fsr-3185	407	44	(	(	PUNCT
fsr-3185	407	45	0.047	0.047	NUM
fsr-3185	407	46	)	)	PUNCT
fsr-3185	407	47	(	(	PUNCT
fsr-3185	407	48	0.042	0.042	NUM
fsr-3185	407	49	)	)	PUNCT
fsr-3185	407	50	p	p	NOUN
fsr-3185	407	51	value	value	NOUN
fsr-3185	408	1	[	[	X
fsr-3185	408	2	0.000	0.000	X
fsr-3185	408	3	]	]	X
fsr-3185	409	1	[	[	X
fsr-3185	409	2	0.000	0.000	X
fsr-3185	409	3	]	]	X
fsr-3185	410	1	[	[	X
fsr-3185	410	2	0.000	0.000	X
fsr-3185	410	3	]	]	X
fsr-3185	411	1	[	[	X
fsr-3185	411	2	0.001	0.001	NUM
fsr-3185	411	3	]	]	X
fsr-3185	412	1	[	[	X
fsr-3185	412	2	0.001	0.001	NUM
fsr-3185	412	3	]	]	X
fsr-3185	413	1	[	[	X
fsr-3185	413	2	0.002	0.002	NUM
fsr-3185	413	3	]	]	PUNCT
fsr-3185	414	1	[	[	X
fsr-3185	414	2	0.004	0.004	X
fsr-3185	414	3	]	]	X
fsr-3185	415	1	[	[	X
fsr-3185	415	2	0.004	0.004	X
fsr-3185	415	3	]	]	X
fsr-3185	416	1	[	[	X
fsr-3185	416	2	0.004	0.004	X
fsr-3185	416	3	]	]	X
fsr-3185	417	1	[	[	X
fsr-3185	417	2	0.004	0.004	NUM
fsr-3185	417	3	]	]	PUNCT
fsr-3185	417	4	panel	panel	NOUN
fsr-3185	417	5	c	c	NOUN
fsr-3185	417	6	:	:	PUNCT
fsr-3185	417	7	age	age	NOUN
fsr-3185	417	8	group	group	NOUN
fsr-3185	417	9	35–54	35–54	NUM
fsr-3185	417	10	years	year	NOUN
fsr-3185	417	11	old	old	ADJ
fsr-3185	417	12	intercept	intercept	NOUN
fsr-3185	417	13	#	#	NOUN
fsr-3185	417	14	0.009	0.009	NUM
fsr-3185	417	15	0.007	0.007	NUM
fsr-3185	417	16	0.007	0.007	NUM
fsr-3185	417	17	0.007	0.007	NUM
fsr-3185	417	18	0.008	0.008	NUM
fsr-3185	417	19	0.008	0.008	NUM
fsr-3185	417	20	0.008	0.008	NUM
fsr-3185	417	21	0.007	0.007	NUM
fsr-3185	417	22	0.007	0.007	NUM
fsr-3185	417	23	0.006	0.006	NUM
fsr-3185	417	24	se	se	X
fsr-3185	417	25	(	(	PUNCT
fsr-3185	417	26	0.004	0.004	NUM
fsr-3185	417	27	)	)	PUNCT
fsr-3185	417	28	(	(	PUNCT
fsr-3185	417	29	0.003	0.003	NUM
fsr-3185	417	30	)	)	PUNCT
fsr-3185	417	31	(	(	PUNCT
fsr-3185	417	32	0.003	0.003	NUM
fsr-3185	417	33	)	)	PUNCT
fsr-3185	417	34	(	(	PUNCT
fsr-3185	417	35	0.003	0.003	NUM
fsr-3185	417	36	)	)	PUNCT
fsr-3185	417	37	(	(	PUNCT
fsr-3185	417	38	0.003	0.003	NUM
fsr-3185	417	39	)	)	PUNCT
fsr-3185	417	40	(	(	PUNCT
fsr-3185	417	41	0.003	0.003	NUM
fsr-3185	417	42	)	)	PUNCT
fsr-3185	417	43	(	(	PUNCT
fsr-3185	417	44	0.003	0.003	NUM
fsr-3185	417	45	)	)	PUNCT
fsr-3185	417	46	(	(	PUNCT
fsr-3185	417	47	0.003	0.003	NUM
fsr-3185	417	48	)	)	PUNCT
fsr-3185	417	49	(	(	PUNCT
fsr-3185	417	50	0.003	0.003	NUM
fsr-3185	417	51	)	)	PUNCT
fsr-3185	417	52	(	(	PUNCT
fsr-3185	417	53	0.002	0.002	NUM
fsr-3185	417	54	)	)	PUNCT
fsr-3185	417	55	p	p	NOUN
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fsr-3185	417	57	[	[	X
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fsr-3185	417	59	]	]	X
fsr-3185	417	60	[	[	X
fsr-3185	417	61	0.042	0.042	NUM
fsr-3185	417	62	]	]	PUNCT
fsr-3185	417	63	[	[	X
fsr-3185	417	64	0.013	0.013	X
fsr-3185	417	65	]	]	X
fsr-3185	417	66	[	[	X
fsr-3185	417	67	0.014	0.014	X
fsr-3185	417	68	]	]	X
fsr-3185	418	1	[	[	X
fsr-3185	418	2	0.010	0.010	NUM
fsr-3185	418	3	]	]	X
fsr-3185	419	1	[	[	X
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fsr-3185	419	3	]	]	PUNCT
fsr-3185	420	1	[	[	X
fsr-3185	420	2	0.005	0.005	NUM
fsr-3185	420	3	]	]	PUNCT
fsr-3185	421	1	[	[	X
fsr-3185	421	2	0.010	0.010	NUM
fsr-3185	421	3	]	]	X
fsr-3185	422	1	[	[	X
fsr-3185	422	2	0.009	0.009	NUM
fsr-3185	422	3	]	]	X
fsr-3185	422	4	[	[	X
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fsr-3185	422	6	]	]	PUNCT
fsr-3185	422	7	slope	slope	NOUN
fsr-3185	422	8	$	$	SYM
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fsr-3185	422	10	0.264	0.264	NUM
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fsr-3185	422	12	0.226	0.226	NUM
fsr-3185	422	13	0.208	0.208	NUM
fsr-3185	422	14	0.186	0.186	NUM
fsr-3185	422	15	0.183	0.183	NUM
fsr-3185	422	16	0.155	0.155	NUM
fsr-3185	422	17	0.147	0.147	NUM
fsr-3185	422	18	0.109	0.109	NUM
fsr-3185	422	19	se	se	X
fsr-3185	422	20	(	(	PUNCT
fsr-3185	422	21	0.045	0.045	NUM
fsr-3185	422	22	)	)	PUNCT
fsr-3185	422	23	(	(	PUNCT
fsr-3185	422	24	0.057	0.057	NUM
fsr-3185	422	25	)	)	PUNCT
fsr-3185	422	26	(	(	PUNCT
fsr-3185	422	27	0.061	0.061	NUM
fsr-3185	422	28	)	)	PUNCT
fsr-3185	422	29	(	(	PUNCT
fsr-3185	422	30	0.056	0.056	NUM
fsr-3185	422	31	)	)	PUNCT
fsr-3185	422	32	(	(	PUNCT
fsr-3185	422	33	0.059	0.059	NUM
fsr-3185	422	34	)	)	PUNCT
fsr-3185	422	35	(	(	PUNCT
fsr-3185	422	36	0.052	0.052	NUM
fsr-3185	422	37	)	)	PUNCT
fsr-3185	422	38	(	(	PUNCT
fsr-3185	422	39	0.053	0.053	NUM
fsr-3185	422	40	)	)	PUNCT
fsr-3185	422	41	(	(	PUNCT
fsr-3185	422	42	0.050	0.050	NUM
fsr-3185	422	43	)	)	PUNCT
fsr-3185	422	44	(	(	PUNCT
fsr-3185	422	45	0.051	0.051	NUM
fsr-3185	422	46	)	)	PUNCT
fsr-3185	422	47	(	(	PUNCT
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fsr-3185	422	49	)	)	PUNCT
fsr-3185	422	50	p	p	NOUN
fsr-3185	422	51	value	value	NOUN
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fsr-3185	423	3	]	]	X
fsr-3185	424	1	[	[	X
fsr-3185	424	2	0.000	0.000	X
fsr-3185	424	3	]	]	X
fsr-3185	425	1	[	[	X
fsr-3185	425	2	0.000	0.000	X
fsr-3185	425	3	]	]	X
fsr-3185	426	1	[	[	X
fsr-3185	426	2	0.000	0.000	X
fsr-3185	426	3	]	]	X
fsr-3185	427	1	[	[	X
fsr-3185	427	2	0.000	0.000	X
fsr-3185	427	3	]	]	X
fsr-3185	428	1	[	[	X
fsr-3185	428	2	0.000	0.000	X
fsr-3185	428	3	]	]	X
fsr-3185	429	1	[	[	X
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fsr-3185	429	3	]	]	X
fsr-3185	430	1	[	[	X
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fsr-3185	430	3	]	]	PUNCT
fsr-3185	431	1	[	[	X
fsr-3185	431	2	0.004	0.004	X
fsr-3185	431	3	]	]	X
fsr-3185	432	1	[	[	X
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fsr-3185	432	3	]	]	PUNCT
fsr-3185	432	4	panel	panel	NOUN
fsr-3185	432	5	d	d	NOUN
fsr-3185	432	6	:	:	PUNCT
fsr-3185	432	7	age	age	NOUN
fsr-3185	432	8	group	group	NOUN
fsr-3185	432	9	55	55	NUM
fsr-3185	432	10	years	year	NOUN
fsr-3185	432	11	old	old	ADJ
fsr-3185	432	12	and	and	CCONJ
fsr-3185	432	13	older	old	ADJ
fsr-3185	432	14	intercept	intercept	NOUN
fsr-3185	432	15	#	#	NOUN
fsr-3185	432	16	0.009	0.009	NUM
fsr-3185	432	17	0.007	0.007	NUM
fsr-3185	432	18	0.007	0.007	NUM
fsr-3185	432	19	0.007	0.007	NUM
fsr-3185	432	20	0.008	0.008	NUM
fsr-3185	432	21	0.008	0.008	NUM
fsr-3185	432	22	0.008	0.008	NUM
fsr-3185	432	23	0.007	0.007	NUM
fsr-3185	432	24	0.007	0.007	NUM
fsr-3185	432	25	0.006	0.006	NUM
fsr-3185	432	26	se	se	X
fsr-3185	432	27	(	(	PUNCT
fsr-3185	432	28	0.004	0.004	NUM
fsr-3185	432	29	)	)	PUNCT
fsr-3185	432	30	(	(	PUNCT
fsr-3185	432	31	0.003	0.003	NUM
fsr-3185	432	32	)	)	PUNCT
fsr-3185	432	33	(	(	PUNCT
fsr-3185	432	34	0.003	0.003	NUM
fsr-3185	432	35	)	)	PUNCT
fsr-3185	432	36	(	(	PUNCT
fsr-3185	432	37	0.003	0.003	NUM
fsr-3185	432	38	)	)	PUNCT
fsr-3185	432	39	(	(	PUNCT
fsr-3185	432	40	0.003	0.003	NUM
fsr-3185	432	41	)	)	PUNCT
fsr-3185	432	42	(	(	PUNCT
fsr-3185	432	43	0.003	0.003	NUM
fsr-3185	432	44	)	)	PUNCT
fsr-3185	432	45	(	(	PUNCT
fsr-3185	432	46	0.003	0.003	NUM
fsr-3185	432	47	)	)	PUNCT
fsr-3185	432	48	(	(	PUNCT
fsr-3185	432	49	0.003	0.003	NUM
fsr-3185	432	50	)	)	PUNCT
fsr-3185	432	51	(	(	PUNCT
fsr-3185	432	52	0.003	0.003	NUM
fsr-3185	432	53	)	)	PUNCT
fsr-3185	432	54	(	(	PUNCT
fsr-3185	432	55	0.002	0.002	NUM
fsr-3185	432	56	)	)	PUNCT
fsr-3185	432	57	p	p	NOUN
fsr-3185	432	58	value	value	NOUN
fsr-3185	432	59	[	[	X
fsr-3185	432	60	0.012	0.012	NUM
fsr-3185	432	61	]	]	X
fsr-3185	433	1	[	[	X
fsr-3185	433	2	0.043	0.043	NUM
fsr-3185	433	3	]	]	PUNCT
fsr-3185	433	4	[	[	X
fsr-3185	433	5	0.013	0.013	X
fsr-3185	433	6	]	]	X
fsr-3185	434	1	[	[	X
fsr-3185	434	2	0.015	0.015	X
fsr-3185	434	3	]	]	PUNCT
fsr-3185	435	1	[	[	X
fsr-3185	435	2	0.010	0.010	NUM
fsr-3185	435	3	]	]	X
fsr-3185	436	1	[	[	X
fsr-3185	436	2	0.006	0.006	NUM
fsr-3185	436	3	]	]	PUNCT
fsr-3185	437	1	[	[	X
fsr-3185	437	2	0.006	0.006	NUM
fsr-3185	437	3	]	]	PUNCT
fsr-3185	438	1	[	[	X
fsr-3185	438	2	0.011	0.011	NUM
fsr-3185	438	3	]	]	X
fsr-3185	438	4	[	[	X
fsr-3185	438	5	0.009	0.009	NUM
fsr-3185	438	6	]	]	X
fsr-3185	438	7	[	[	X
fsr-3185	438	8	0.018	0.018	NUM
fsr-3185	438	9	]	]	PUNCT
fsr-3185	438	10	slope	slope	NOUN
fsr-3185	438	11	$	$	SYM
fsr-3185	438	12	0.245	0.245	NUM
fsr-3185	438	13	0.231	0.231	NUM
fsr-3185	438	14	0.207	0.207	NUM
fsr-3185	438	15	0.190	0.190	NUM
fsr-3185	438	16	0.177	0.177	NUM
fsr-3185	438	17	0.148	0.148	NUM
fsr-3185	438	18	0.138	0.138	NUM
fsr-3185	438	19	0.129	0.129	NUM
fsr-3185	438	20	0.112	0.112	NUM
fsr-3185	438	21	0.096	0.096	NUM
fsr-3185	438	22	se	se	X
fsr-3185	438	23	(	(	PUNCT
fsr-3185	438	24	0.043	0.043	NUM
fsr-3185	438	25	)	)	PUNCT
fsr-3185	438	26	(	(	PUNCT
fsr-3185	438	27	0.044	0.044	NUM
fsr-3185	438	28	)	)	PUNCT
fsr-3185	438	29	(	(	PUNCT
fsr-3185	438	30	0.046	0.046	NUM
fsr-3185	438	31	)	)	PUNCT
fsr-3185	438	32	(	(	PUNCT
fsr-3185	438	33	0.046	0.046	NUM
fsr-3185	438	34	)	)	PUNCT
fsr-3185	438	35	(	(	PUNCT
fsr-3185	438	36	0.044	0.044	NUM
fsr-3185	438	37	)	)	PUNCT
fsr-3185	438	38	(	(	PUNCT
fsr-3185	438	39	0.041	0.041	NUM
fsr-3185	438	40	)	)	PUNCT
fsr-3185	438	41	(	(	PUNCT
fsr-3185	438	42	0.041	0.041	NUM
fsr-3185	438	43	)	)	PUNCT
fsr-3185	438	44	(	(	PUNCT
fsr-3185	438	45	0.040	0.040	NUM
fsr-3185	438	46	)	)	PUNCT
fsr-3185	438	47	(	(	PUNCT
fsr-3185	438	48	0.037	0.037	NUM
fsr-3185	438	49	)	)	PUNCT
fsr-3185	438	50	(	(	PUNCT
fsr-3185	438	51	0.034	0.034	NUM
fsr-3185	438	52	)	)	PUNCT
fsr-3185	438	53	p	p	NOUN
fsr-3185	438	54	value	value	NOUN
fsr-3185	439	1	[	[	X
fsr-3185	439	2	0.000	0.000	X
fsr-3185	439	3	]	]	X
fsr-3185	440	1	[	[	X
fsr-3185	440	2	0.000	0.000	X
fsr-3185	440	3	]	]	X
fsr-3185	441	1	[	[	X
fsr-3185	441	2	0.000	0.000	X
fsr-3185	441	3	]	]	X
fsr-3185	442	1	[	[	X
fsr-3185	442	2	0.000	0.000	X
fsr-3185	442	3	]	]	X
fsr-3185	443	1	[	[	X
fsr-3185	443	2	0.000	0.000	X
fsr-3185	443	3	]	]	X
fsr-3185	444	1	[	[	X
fsr-3185	444	2	0.000	0.000	X
fsr-3185	444	3	]	]	X
fsr-3185	445	1	[	[	X
fsr-3185	445	2	0.001	0.001	NUM
fsr-3185	445	3	]	]	X
fsr-3185	446	1	[	[	X
fsr-3185	446	2	0.002	0.002	NUM
fsr-3185	446	3	]	]	PUNCT
fsr-3185	447	1	[	[	X
fsr-3185	447	2	0.003	0.003	NUM
fsr-3185	447	3	]	]	X
fsr-3185	447	4	[	[	X
fsr-3185	447	5	0.005	0.005	NUM
fsr-3185	447	6	]	]	PUNCT
fsr-3185	447	7	note	note	NOUN
fsr-3185	447	8	.	.	PUNCT
fsr-3185	448	1	this	this	DET
fsr-3185	448	2	table	table	NOUN
fsr-3185	448	3	represents	represent	VERB
fsr-3185	448	4	ordinary	ordinary	ADJ
fsr-3185	448	5	least	least	ADJ
fsr-3185	448	6	square	square	ADJ
fsr-3185	448	7	regressions	regression	NOUN
fsr-3185	448	8	of	of	ADP
fsr-3185	448	9	one	one	NUM
fsr-3185	448	10	month	month	NOUN
fsr-3185	448	11	excess	excess	ADJ
fsr-3185	448	12	returns	return	NOUN
fsr-3185	448	13	of	of	ADP
fsr-3185	448	14	various	various	ADJ
fsr-3185	448	15	size	size	NOUN
fsr-3185	448	16	-	-	PUNCT
fsr-3185	448	17	sorted	sort	VERB
fsr-3185	448	18	decile	decile	NOUN
fsr-3185	448	19	portfolios	portfolio	NOUN
fsr-3185	448	20	on	on	ADP
fsr-3185	448	21	lagged	lag	VERB
fsr-3185	448	22	one	one	NUM
fsr-3185	448	23	month	month	NOUN
fsr-3185	448	24	changes	change	NOUN
fsr-3185	448	25	in	in	ADP
fsr-3185	448	26	the	the	DET
fsr-3185	448	27	consumer	consumer	NOUN
fsr-3185	448	28	sentiment	sentiment	NOUN
fsr-3185	448	29	index	index	NOUN
fsr-3185	448	30	(	(	PUNCT
fsr-3185	448	31	csi	csi	PROPN
fsr-3185	448	32	)	)	PUNCT
fsr-3185	448	33	.	.	PUNCT
fsr-3185	449	1	the	the	DET
fsr-3185	449	2	indices	index	NOUN
fsr-3185	449	3	used	use	VERB
fsr-3185	449	4	are	be	AUX
fsr-3185	449	5	the	the	DET
fsr-3185	449	6	crsp	crsp	ADJ
fsr-3185	449	7	annual	annual	ADJ
fsr-3185	449	8	rebalanced	rebalance	VERB
fsr-3185	449	9	indices	index	NOUN
fsr-3185	449	10	based	base	VERB
fsr-3185	449	11	on	on	ADP
fsr-3185	449	12	individual	individual	ADJ
fsr-3185	449	13	stock	stock	NOUN
fsr-3185	449	14	market	market	NOUN
fsr-3185	449	15	capitalization	capitalization	NOUN
fsr-3185	449	16	values	value	NOUN
fsr-3185	449	17	.	.	PUNCT
fsr-3185	450	1	the	the	DET
fsr-3185	450	2	market	market	NOUN
fsr-3185	450	3	capitalization	capitalization	NOUN
fsr-3185	450	4	portfolios	portfolio	NOUN
fsr-3185	450	5	are	be	AUX
fsr-3185	450	6	formed	form	VERB
fsr-3185	450	7	from	from	ADP
fsr-3185	450	8	stocks	stock	NOUN
fsr-3185	450	9	listed	list	VERB
fsr-3185	450	10	on	on	ADP
fsr-3185	450	11	the	the	DET
fsr-3185	450	12	new	new	PROPN
fsr-3185	450	13	york	york	PROPN
fsr-3185	450	14	stock	stock	PROPN
fsr-3185	450	15	exchange	exchange	PROPN
fsr-3185	450	16	(	(	PUNCT
fsr-3185	450	17	nyse	nyse	PROPN
fsr-3185	450	18	)	)	PUNCT
fsr-3185	450	19	,	,	PUNCT
fsr-3185	450	20	american	american	PROPN
fsr-3185	450	21	stock	stock	PROPN
fsr-3185	450	22	exchange	exchange	PROPN
fsr-3185	450	23	(	(	PUNCT
fsr-3185	450	24	amex	amex	PROPN
fsr-3185	450	25	)	)	PUNCT
fsr-3185	450	26	,	,	PUNCT
fsr-3185	450	27	and	and	CCONJ
fsr-3185	450	28	the	the	DET
fsr-3185	450	29	national	national	PROPN
fsr-3185	450	30	association	association	PROPN
fsr-3185	450	31	of	of	ADP
fsr-3185	450	32	securities	security	NOUN
fsr-3185	450	33	dealers	dealer	NOUN
fsr-3185	450	34	automated	automate	VERB
fsr-3185	450	35	quotations	quotation	NOUN
fsr-3185	450	36	(	(	PUNCT
fsr-3185	450	37	nasdaq	nasdaq	NOUN
fsr-3185	450	38	)	)	PUNCT
fsr-3185	450	39	and	and	CCONJ
fsr-3185	450	40	are	be	AUX
fsr-3185	450	41	rebalanced	rebalance	VERB
fsr-3185	450	42	each	each	DET
fsr-3185	450	43	year	year	NOUN
fsr-3185	450	44	and	and	CCONJ
fsr-3185	450	45	separated	separate	VERB
fsr-3185	450	46	based	base	VERB
fsr-3185	450	47	on	on	ADP
fsr-3185	450	48	deciles	decile	NOUN
fsr-3185	450	49	.	.	PUNCT
fsr-3185	451	1	decile	decile	NOUN
fsr-3185	451	2	1	1	NUM
fsr-3185	451	3	represents	represent	VERB
fsr-3185	451	4	firms	firm	NOUN
fsr-3185	451	5	that	that	PRON
fsr-3185	451	6	have	have	VERB
fsr-3185	451	7	smaller	small	ADJ
fsr-3185	451	8	market	market	NOUN
fsr-3185	451	9	capitalizations	capitalization	NOUN
fsr-3185	451	10	versus	versus	ADP
fsr-3185	451	11	the	the	DET
fsr-3185	451	12	firms	firm	NOUN
fsr-3185	451	13	with	with	ADP
fsr-3185	451	14	higher	high	ADJ
fsr-3185	451	15	market	market	NOUN
fsr-3185	451	16	capitalizations	capitalization	NOUN
fsr-3185	451	17	(	(	PUNCT
fsr-3185	451	18	higher	high	ADJ
fsr-3185	451	19	decile	decile	NOUN
fsr-3185	451	20	indices	index	NOUN
fsr-3185	451	21	)	)	PUNCT
fsr-3185	451	22	.	.	PUNCT
fsr-3185	452	1	decile	decile	NOUN
fsr-3185	452	2	10	10	NUM
fsr-3185	452	3	represents	represent	VERB
fsr-3185	452	4	firms	firm	NOUN
fsr-3185	452	5	that	that	PRON
fsr-3185	452	6	have	have	VERB
fsr-3185	452	7	some	some	PRON
fsr-3185	452	8	of	of	ADP
fsr-3185	452	9	the	the	DET
fsr-3185	452	10	largest	large	ADJ
fsr-3185	452	11	market	market	NOUN
fsr-3185	452	12	capitalizations	capitalization	NOUN
fsr-3185	452	13	of	of	ADP
fsr-3185	452	14	listed	list	VERB
fsr-3185	452	15	firms	firm	NOUN
fsr-3185	452	16	.	.	PUNCT
fsr-3185	453	1	all	all	DET
fsr-3185	453	2	data	datum	NOUN
fsr-3185	453	3	is	be	AUX
fsr-3185	453	4	monthly	monthly	ADJ
fsr-3185	453	5	and	and	CCONJ
fsr-3185	453	6	is	be	AUX
fsr-3185	453	7	from	from	ADP
fsr-3185	453	8	january	january	PROPN
fsr-3185	453	9	1978	1978	NUM
fsr-3185	453	10	until	until	ADP
fsr-3185	453	11	december	december	PROPN
fsr-3185	453	12	2010	2010	NUM
fsr-3185	453	13	.	.	PUNCT
fsr-3185	454	1	statistical	statistical	ADJ
fsr-3185	454	2	significance	significance	NOUN
fsr-3185	454	3	is	be	AUX
fsr-3185	454	4	determined	determine	VERB
fsr-3185	454	5	by	by	ADP
fsr-3185	454	6	the	the	DET
fsr-3185	454	7	newey	newey	PROPN
fsr-3185	454	8	-	-	PUNCT
fsr-3185	454	9	west	west	PROPN
fsr-3185	454	10	p	p	NOUN
fsr-3185	454	11	values	value	NOUN
fsr-3185	454	12	.	.	PUNCT
fsr-3185	455	1	59m.a	59m.a	X
fsr-3185	455	2	.	.	PUNCT
fsr-3185	455	3	johnson	johnson	PROPN
fsr-3185	455	4	,	,	PUNCT
fsr-3185	455	5	a.	a.	PROPN
fsr-3185	455	6	naka	naka	PROPN
fsr-3185	455	7	/	/	SYM
fsr-3185	455	8	financial	financial	ADJ
fsr-3185	455	9	services	service	NOUN
fsr-3185	455	10	review	review	VERB
fsr-3185	455	11	23	23	NUM
fsr-3185	455	12	(	(	PUNCT
fsr-3185	455	13	2014	2014	NUM
fsr-3185	455	14	)	)	PUNCT
fsr-3185	455	15	45–61	45–61	NUM
fsr-3185	455	16	notes	note	VERB
fsr-3185	455	17	1	1	NUM
fsr-3185	455	18	for	for	ADP
fsr-3185	455	19	example	example	NOUN
fsr-3185	455	20	,	,	PUNCT
fsr-3185	455	21	these	these	DET
fsr-3185	455	22	studies	study	NOUN
fsr-3185	455	23	include	include	VERB
fsr-3185	455	24	akhtar	akhtar	PROPN
fsr-3185	455	25	et	et	PROPN
fsr-3185	455	26	al	al	PROPN
fsr-3185	455	27	.	.	PROPN
fsr-3185	456	1	(	(	PUNCT
fsr-3185	456	2	2011	2011	NUM
fsr-3185	456	3	)	)	PUNCT
fsr-3185	456	4	,	,	PUNCT
fsr-3185	456	5	baker	baker	NOUN
fsr-3185	456	6	and	and	CCONJ
fsr-3185	456	7	wurgler	wurgler	PROPN
fsr-3185	456	8	(	(	PUNCT
fsr-3185	456	9	2006	2006	NUM
fsr-3185	456	10	)	)	PUNCT
fsr-3185	456	11	,	,	PUNCT
fsr-3185	456	12	baker	baker	NOUN
fsr-3185	456	13	and	and	CCONJ
fsr-3185	456	14	wurgler	wurgler	PROPN
fsr-3185	456	15	(	(	PUNCT
fsr-3185	456	16	2007	2007	NUM
fsr-3185	456	17	)	)	PUNCT
fsr-3185	456	18	,	,	PUNCT
fsr-3185	456	19	chung	chung	PROPN
fsr-3185	456	20	et	et	PROPN
fsr-3185	456	21	al	al	PROPN
fsr-3185	456	22	.	.	PROPN
fsr-3185	457	1	(	(	PUNCT
fsr-3185	457	2	2012	2012	NUM
fsr-3185	457	3	)	)	PUNCT
fsr-3185	457	4	,	,	PUNCT
fsr-3185	457	5	fisher	fisher	PROPN
fsr-3185	457	6	and	and	CCONJ
fsr-3185	457	7	statman	statman	NOUN
fsr-3185	457	8	(	(	PUNCT
fsr-3185	457	9	2003	2003	NUM
fsr-3185	457	10	)	)	PUNCT
fsr-3185	457	11	,	,	PUNCT
fsr-3185	457	12	lemmon	lemmon	PROPN
fsr-3185	457	13	and	and	CCONJ
fsr-3185	457	14	portniaguina	portniaguina	PROPN
fsr-3185	457	15	(	(	PUNCT
fsr-3185	457	16	2006	2006	NUM
fsr-3185	457	17	)	)	PUNCT
fsr-3185	457	18	,	,	PUNCT
fsr-3185	457	19	schmeling	schmele	VERB
fsr-3185	457	20	(	(	PUNCT
fsr-3185	457	21	2009	2009	NUM
fsr-3185	457	22	)	)	PUNCT
fsr-3185	457	23	,	,	PUNCT
fsr-3185	457	24	stambaugh	stambaugh	NOUN
fsr-3185	457	25	et	et	PROPN
fsr-3185	457	26	al	al	PROPN
fsr-3185	457	27	.	.	PROPN
fsr-3185	457	28	(	(	PUNCT
fsr-3185	457	29	2012	2012	NUM
fsr-3185	457	30	)	)	PUNCT
fsr-3185	457	31	,	,	PUNCT
fsr-3185	457	32	and	and	CCONJ
fsr-3185	457	33	yu	yu	PROPN
fsr-3185	457	34	and	and	CCONJ
fsr-3185	457	35	yuan	yuan	PROPN
fsr-3185	457	36	(	(	PUNCT
fsr-3185	457	37	2011	2011	NUM
fsr-3185	457	38	)	)	PUNCT
fsr-3185	457	39	.	.	PUNCT
fsr-3185	458	1	2	2	NUM
fsr-3185	458	2	reilly	reilly	ADV
fsr-3185	458	3	and	and	CCONJ
fsr-3185	458	4	brown	brown	ADJ
fsr-3185	458	5	(	(	PUNCT
fsr-3185	458	6	2008	2008	NUM
fsr-3185	458	7	)	)	PUNCT
fsr-3185	458	8	identify	identify	VERB
fsr-3185	458	9	four	four	NUM
fsr-3185	458	10	life	life	NOUN
fsr-3185	458	11	cycle	cycle	NOUN
fsr-3185	458	12	phases	phase	NOUN
fsr-3185	458	13	:	:	PUNCT
fsr-3185	458	14	the	the	DET
fsr-3185	458	15	accumulation	accumulation	NOUN
fsr-3185	458	16	phase	phase	NOUN
fsr-3185	458	17	,	,	PUNCT
fsr-3185	458	18	consolidation	consolidation	NOUN
fsr-3185	458	19	phase	phase	NOUN
fsr-3185	458	20	,	,	PUNCT
fsr-3185	458	21	spending	spending	NOUN
fsr-3185	458	22	phase	phase	NOUN
fsr-3185	458	23	,	,	PUNCT
fsr-3185	458	24	and	and	CCONJ
fsr-3185	458	25	gifting	gift	VERB
fsr-3185	458	26	phase	phase	NOUN
fsr-3185	458	27	.	.	PUNCT
fsr-3185	459	1	3	3	NUM
fsr-3185	459	2	fisher	fisher	PROPN
fsr-3185	459	3	and	and	CCONJ
fsr-3185	459	4	statman	statman	NOUN
fsr-3185	459	5	(	(	PUNCT
fsr-3185	459	6	2003	2003	NUM
fsr-3185	459	7	)	)	PUNCT
fsr-3185	459	8	define	define	VERB
fsr-3185	459	9	small	small	ADJ
fsr-3185	459	10	-	-	PUNCT
fsr-3185	459	11	cap	cap	NOUN
fsr-3185	459	12	stocks	stock	NOUN
fsr-3185	459	13	as	as	ADP
fsr-3185	459	14	the	the	DET
fsr-3185	459	15	average	average	NOUN
fsr-3185	459	16	of	of	ADP
fsr-3185	459	17	the	the	DET
fsr-3185	459	18	returns	return	NOUN
fsr-3185	459	19	on	on	ADP
fsr-3185	459	20	the	the	DET
fsr-3185	459	21	bottom	bottom	ADJ
fsr-3185	459	22	three	three	NUM
fsr-3185	459	23	deciles	decile	NOUN
fsr-3185	459	24	of	of	ADP
fsr-3185	459	25	crsp	crsp	PROPN
fsr-3185	459	26	decile	decile	NOUN
fsr-3185	459	27	1	1	NUM
fsr-3185	459	28	to	to	ADP
fsr-3185	459	29	decile	decile	NOUN
fsr-3185	459	30	10	10	NUM
fsr-3185	459	31	portfolios	portfolio	NOUN
fsr-3185	459	32	formed	form	VERB
fsr-3185	459	33	based	base	VERB
fsr-3185	459	34	on	on	ADP
fsr-3185	459	35	market	market	NOUN
fsr-3185	459	36	capitalization	capitalization	NOUN
fsr-3185	459	37	.	.	PUNCT
fsr-3185	460	1	4	4	NUM
fsr-3185	460	2	the	the	DET
fsr-3185	460	3	market	market	NOUN
fsr-3185	460	4	variables	variable	NOUN
fsr-3185	460	5	used	use	VERB
fsr-3185	460	6	are	be	AUX
fsr-3185	460	7	the	the	DET
fsr-3185	460	8	closed	close	VERB
fsr-3185	460	9	-	-	PUNCT
fsr-3185	460	10	end	end	NOUN
fsr-3185	460	11	fund	fund	NOUN
fsr-3185	460	12	discount	discount	NOUN
fsr-3185	460	13	,	,	PUNCT
fsr-3185	460	14	nyse	nyse	PROPN
fsr-3185	460	15	share	share	NOUN
fsr-3185	460	16	turnover	turnover	NOUN
fsr-3185	460	17	,	,	PUNCT
fsr-3185	460	18	the	the	DET
fsr-3185	460	19	number	number	NOUN
fsr-3185	460	20	of	of	ADP
fsr-3185	460	21	initial	initial	ADJ
fsr-3185	460	22	public	public	ADJ
fsr-3185	460	23	offerings	offering	NOUN
fsr-3185	460	24	(	(	PUNCT
fsr-3185	460	25	ipos	ipos	NOUN
fsr-3185	460	26	)	)	PUNCT
fsr-3185	460	27	,	,	PUNCT
fsr-3185	460	28	the	the	DET
fsr-3185	460	29	average	average	ADJ
fsr-3185	460	30	first	first	ADJ
fsr-3185	460	31	day	day	NOUN
fsr-3185	460	32	return	return	NOUN
fsr-3185	460	33	of	of	ADP
fsr-3185	460	34	ipos	ipos	NOUN
fsr-3185	460	35	,	,	PUNCT
fsr-3185	460	36	the	the	DET
fsr-3185	460	37	dividend	dividend	NOUN
fsr-3185	460	38	premium	premium	NOUN
fsr-3185	460	39	,	,	PUNCT
fsr-3185	460	40	and	and	CCONJ
fsr-3185	460	41	the	the	DET
fsr-3185	460	42	equity	equity	NOUN
fsr-3185	460	43	share	share	NOUN
fsr-3185	460	44	in	in	ADP
fsr-3185	460	45	new	new	ADJ
fsr-3185	460	46	issues	issue	NOUN
fsr-3185	460	47	.	.	PUNCT
fsr-3185	461	1	5	5	NUM
fsr-3185	461	2	we	we	PRON
fsr-3185	461	3	follow	follow	VERB
fsr-3185	461	4	the	the	DET
fsr-3185	461	5	description	description	NOUN
fsr-3185	461	6	of	of	ADP
fsr-3185	461	7	the	the	DET
fsr-3185	461	8	long	long	ADJ
fsr-3185	461	9	-	-	PUNCT
fsr-3185	461	10	horizon	horizon	NOUN
fsr-3185	461	11	regression	regression	NOUN
fsr-3185	461	12	model	model	NOUN
fsr-3185	461	13	presented	present	VERB
fsr-3185	461	14	by	by	ADP
fsr-3185	461	15	campbell	campbell	PROPN
fsr-3185	461	16	et	et	PROPN
fsr-3185	461	17	al	al	PROPN
fsr-3185	461	18	.	.	PROPN
fsr-3185	462	1	(	(	PUNCT
fsr-3185	462	2	1997	1997	NUM
fsr-3185	462	3	)	)	PUNCT
fsr-3185	462	4	.	.	PUNCT
fsr-3185	463	1	6	6	NUM
fsr-3185	463	2	these	these	PRON
fsr-3185	463	3	are	be	AUX
fsr-3185	463	4	not	not	PART
fsr-3185	463	5	dummy	dummy	ADJ
fsr-3185	463	6	variables	variable	NOUN
fsr-3185	463	7	and	and	CCONJ
fsr-3185	463	8	provide	provide	VERB
fsr-3185	463	9	the	the	DET
fsr-3185	463	10	magnitude	magnitude	NOUN
fsr-3185	463	11	of	of	ADP
fsr-3185	463	12	sentiments	sentiment	NOUN
fsr-3185	463	13	’	'	PUNCT
fsr-3185	463	14	negative	negative	ADJ
fsr-3185	463	15	and	and	CCONJ
fsr-3185	463	16	positive	positive	ADJ
fsr-3185	463	17	effects	effect	NOUN
fsr-3185	463	18	.	.	PUNCT
fsr-3185	464	1	7	7	NUM
fsr-3185	464	2	we	we	PRON
fsr-3185	464	3	note	note	VERB
fsr-3185	464	4	that	that	SCONJ
fsr-3185	464	5	the	the	DET
fsr-3185	464	6	csi	csi	PROPN
fsr-3185	464	7	composite	composite	NOUN
fsr-3185	464	8	is	be	AUX
fsr-3185	464	9	not	not	PART
fsr-3185	464	10	the	the	DET
fsr-3185	464	11	average	average	NOUN
fsr-3185	464	12	of	of	ADP
fsr-3185	464	13	three	three	NUM
fsr-3185	464	14	different	different	ADJ
fsr-3185	464	15	age	age	NOUN
fsr-3185	464	16	groups	group	NOUN
fsr-3185	464	17	because	because	SCONJ
fsr-3185	464	18	of	of	ADP
fsr-3185	464	19	slightly	slightly	ADV
fsr-3185	464	20	different	different	ADJ
fsr-3185	464	21	survey	survey	NOUN
fsr-3185	464	22	methods	method	NOUN
fsr-3185	464	23	.	.	PUNCT
fsr-3185	465	1	8	8	NUM
fsr-3185	465	2	u.s	u.s	PROPN
fsr-3185	465	3	.	.	PROPN
fsr-3185	465	4	business	business	NOUN
fsr-3185	465	5	cycle	cycle	NOUN
fsr-3185	465	6	expansions	expansion	NOUN
fsr-3185	465	7	and	and	CCONJ
fsr-3185	465	8	contractions	contraction	NOUN
fsr-3185	465	9	according	accord	VERB
fsr-3185	465	10	to	to	ADP
fsr-3185	465	11	the	the	DET
fsr-3185	465	12	national	national	PROPN
fsr-3185	465	13	bureau	bureau	PROPN
fsr-3185	465	14	of	of	ADP
fsr-3185	465	15	economic	economic	ADJ
fsr-3185	465	16	research	research	NOUN
fsr-3185	465	17	(	(	PUNCT
fsr-3185	465	18	http://www.nber.org/cycles.html	http://www.nber.org/cycles.html	PROPN
fsr-3185	465	19	)	)	PUNCT
fsr-3185	465	20	.	.	PUNCT
fsr-3185	466	1	9	9	NUM
fsr-3185	466	2	newey	newey	PROPN
fsr-3185	466	3	-	-	PUNCT
fsr-3185	466	4	west	west	ADJ
fsr-3185	466	5	methods	method	NOUN
fsr-3185	466	6	are	be	AUX
fsr-3185	466	7	used	use	VERB
fsr-3185	466	8	to	to	PART
fsr-3185	466	9	obtain	obtain	VERB
fsr-3185	466	10	robust	robust	ADJ
fsr-3185	466	11	parameter	parameter	NOUN
fsr-3185	466	12	estimates	estimate	NOUN
fsr-3185	466	13	by	by	ADP
fsr-3185	466	14	correcting	correct	VERB
fsr-3185	466	15	the	the	DET
fsr-3185	466	16	possible	possible	ADJ
fsr-3185	466	17	autocorrelation	autocorrelation	NOUN
fsr-3185	466	18	and	and	CCONJ
fsr-3185	466	19	heterocedasticity	heterocedasticity	NOUN
fsr-3185	466	20	.	.	PUNCT
fsr-3185	467	1	acknowledgments	acknowledgment	NOUN
fsr-3185	467	2	we	we	PRON
fsr-3185	467	3	are	be	AUX
fsr-3185	467	4	grateful	grateful	ADJ
fsr-3185	467	5	for	for	ADP
fsr-3185	467	6	helpful	helpful	ADJ
fsr-3185	467	7	comments	comment	NOUN
fsr-3185	467	8	from	from	ADP
fsr-3185	467	9	tarun	tarun	PROPN
fsr-3185	467	10	mukherjee	mukherjee	PROPN
fsr-3185	467	11	,	,	PUNCT
fsr-3185	467	12	arja	arja	PROPN
fsr-3185	467	13	turunen	turunen	PROPN
fsr-3185	467	14	-	-	PUNCT
fsr-3185	467	15	red	red	PROPN
fsr-3185	467	16	,	,	PUNCT
fsr-3185	467	17	wei	wei	PROPN
fsr-3185	467	18	wang	wang	PROPN
fsr-3185	467	19	,	,	PUNCT
fsr-3185	467	20	seminar	seminar	NOUN
fsr-3185	467	21	participants	participant	NOUN
fsr-3185	467	22	at	at	ADP
fsr-3185	467	23	the	the	DET
fsr-3185	467	24	2012	2012	NUM
fsr-3185	467	25	midwest	midwest	PROPN
fsr-3185	467	26	finance	finance	PROPN
fsr-3185	467	27	association	association	NOUN
fsr-3185	467	28	annual	annual	ADJ
fsr-3185	467	29	meeting	meeting	NOUN
fsr-3185	467	30	,	,	PUNCT
fsr-3185	467	31	and	and	CCONJ
fsr-3185	467	32	the	the	DET
fsr-3185	467	33	federal	federal	PROPN
fsr-3185	467	34	reserve	reserve	PROPN
fsr-3185	467	35	bank	bank	PROPN
fsr-3185	467	36	of	of	ADP
fsr-3185	467	37	chicago	chicago	PROPN
fsr-3185	467	38	.	.	PUNCT
fsr-3185	468	1	we	we	PRON
fsr-3185	468	2	also	also	ADV
fsr-3185	468	3	thank	thank	VERB
fsr-3185	468	4	the	the	DET
fsr-3185	468	5	editor	editor	NOUN
fsr-3185	468	6	,	,	PUNCT
fsr-3185	468	7	stuart	stuart	PROPN
fsr-3185	468	8	michelson	michelson	PROPN
fsr-3185	468	9	,	,	PUNCT
fsr-3185	468	10	and	and	CCONJ
fsr-3185	468	11	the	the	DET
fsr-3185	468	12	anonymous	anonymous	ADJ
fsr-3185	468	13	reviewers	reviewer	NOUN
fsr-3185	468	14	for	for	ADP
fsr-3185	468	15	their	their	PRON
fsr-3185	468	16	comments	comment	NOUN
fsr-3185	468	17	and	and	CCONJ
fsr-3185	468	18	suggestions	suggestion	NOUN
fsr-3185	468	19	that	that	PRON
fsr-3185	468	20	improved	improve	VERB
fsr-3185	468	21	this	this	DET
fsr-3185	468	22	study	study	NOUN
fsr-3185	468	23	.	.	PUNCT
fsr-3185	469	1	this	this	DET
fsr-3185	469	2	research	research	NOUN
fsr-3185	469	3	was	be	AUX
fsr-3185	469	4	supported	support	VERB
fsr-3185	469	5	by	by	ADP
fsr-3185	469	6	a	a	DET
fsr-3185	469	7	summer	summer	NOUN
fsr-3185	469	8	research	research	NOUN
fsr-3185	469	9	grant	grant	NOUN
fsr-3185	469	10	from	from	ADP
fsr-3185	469	11	the	the	DET
fsr-3185	469	12	sellinger	sellinger	ADJ
fsr-3185	469	13	school	school	NOUN
fsr-3185	469	14	of	of	ADP
fsr-3185	469	15	business	business	NOUN
fsr-3185	469	16	and	and	CCONJ
fsr-3185	469	17	management	management	NOUN
fsr-3185	469	18	at	at	ADP
fsr-3185	469	19	loyola	loyola	PROPN
fsr-3185	469	20	university	university	PROPN
fsr-3185	469	21	maryland	maryland	NOUN
fsr-3185	469	22	.	.	PUNCT
fsr-3185	470	1	references	reference	NOUN
fsr-3185	470	2	akhtar	akhtar	PROPN
fsr-3185	470	3	,	,	PUNCT
fsr-3185	470	4	s.	s.	PROPN
fsr-3185	470	5	,	,	PUNCT
fsr-3185	470	6	faff	faff	PROPN
fsr-3185	470	7	,	,	PUNCT
fsr-3185	470	8	r.	r.	PROPN
fsr-3185	470	9	,	,	PUNCT
fsr-3185	470	10	oliver	oliver	PROPN
fsr-3185	470	11	,	,	PUNCT
fsr-3185	470	12	b.	b.	PROPN
fsr-3185	470	13	,	,	PUNCT
fsr-3185	470	14	&	&	CCONJ
fsr-3185	470	15	subrahmanyam	subrahmanyam	PROPN
fsr-3185	470	16	,	,	PUNCT
fsr-3185	470	17	a.	a.	NOUN
fsr-3185	470	18	(	(	PUNCT
fsr-3185	470	19	2011	2011	NUM
fsr-3185	470	20	)	)	PUNCT
fsr-3185	470	21	.	.	PUNCT
fsr-3185	471	1	the	the	DET
fsr-3185	471	2	power	power	NOUN
fsr-3185	471	3	of	of	ADP
fsr-3185	471	4	bad	bad	ADJ
fsr-3185	471	5	:	:	PUNCT
fsr-3185	471	6	the	the	DET
fsr-3185	471	7	negativity	negativity	NOUN
fsr-3185	471	8	bias	bias	NOUN
fsr-3185	471	9	in	in	ADP
fsr-3185	471	10	australian	australian	ADJ
fsr-3185	471	11	consumer	consumer	NOUN
fsr-3185	471	12	sentiment	sentiment	NOUN
fsr-3185	471	13	announcements	announcement	NOUN
fsr-3185	471	14	on	on	ADP
fsr-3185	471	15	stock	stock	NOUN
fsr-3185	471	16	returns	return	NOUN
fsr-3185	471	17	.	.	PUNCT
fsr-3185	472	1	journal	journal	NOUN
fsr-3185	472	2	of	of	ADP
fsr-3185	472	3	banking	banking	NOUN
fsr-3185	472	4	and	and	CCONJ
fsr-3185	472	5	finance	finance	NOUN
fsr-3185	472	6	,	,	PUNCT
fsr-3185	472	7	35	35	NUM
fsr-3185	472	8	,	,	PUNCT
fsr-3185	472	9	1239–1249	1239–1249	NUM
fsr-3185	472	10	.	.	PUNCT
fsr-3185	473	1	ando	ando	PROPN
fsr-3185	473	2	,	,	PUNCT
fsr-3185	473	3	a.	a.	PROPN
fsr-3185	473	4	&	&	CCONJ
fsr-3185	473	5	modigliani	modigliani	PROPN
fsr-3185	473	6	,	,	PUNCT
fsr-3185	473	7	f.	f.	PROPN
fsr-3185	473	8	(	(	PUNCT
fsr-3185	473	9	1963	1963	NUM
fsr-3185	473	10	)	)	PUNCT
fsr-3185	473	11	.	.	PUNCT
fsr-3185	474	1	the	the	DET
fsr-3185	474	2	“	"	PUNCT
fsr-3185	474	3	life	life	NOUN
fsr-3185	474	4	cycle	cycle	NOUN
fsr-3185	474	5	”	"	PUNCT
fsr-3185	474	6	hypothesis	hypothesis	NOUN
fsr-3185	474	7	of	of	ADP
fsr-3185	474	8	saving	saving	NOUN
fsr-3185	474	9	:	:	PUNCT
fsr-3185	474	10	aggregate	aggregate	VERB
fsr-3185	474	11	implications	implication	NOUN
fsr-3185	474	12	and	and	CCONJ
fsr-3185	474	13	tests	test	NOUN
fsr-3185	474	14	.	.	PUNCT
fsr-3185	475	1	american	american	PROPN
fsr-3185	475	2	economic	economic	PROPN
fsr-3185	475	3	review	review	PROPN
fsr-3185	475	4	,	,	PUNCT
fsr-3185	475	5	53	53	NUM
fsr-3185	475	6	,	,	PUNCT
fsr-3185	475	7	55–84	55–84	PROPN
fsr-3185	475	8	.	.	PUNCT
fsr-3185	476	1	ang	ang	PROPN
fsr-3185	476	2	,	,	PUNCT
fsr-3185	476	3	a.	a.	PROPN
fsr-3185	476	4	,	,	PUNCT
fsr-3185	476	5	chen	chen	PROPN
fsr-3185	476	6	,	,	PUNCT
fsr-3185	476	7	j.	j.	PROPN
fsr-3185	476	8	,	,	PUNCT
fsr-3185	476	9	&	&	CCONJ
fsr-3185	476	10	xing	xing	PROPN
fsr-3185	476	11	,	,	PUNCT
fsr-3185	476	12	y.	y.	PROPN
fsr-3185	476	13	(	(	PUNCT
fsr-3185	476	14	2006	2006	NUM
fsr-3185	476	15	)	)	PUNCT
fsr-3185	476	16	.	.	PUNCT
fsr-3185	477	1	downside	downside	ADJ
fsr-3185	477	2	risk	risk	NOUN
fsr-3185	477	3	.	.	PUNCT
fsr-3185	478	1	review	review	NOUN
fsr-3185	478	2	of	of	ADP
fsr-3185	478	3	financial	financial	ADJ
fsr-3185	478	4	studies	study	NOUN
fsr-3185	478	5	,	,	PUNCT
fsr-3185	478	6	19	19	NUM
fsr-3185	478	7	,	,	PUNCT
fsr-3185	478	8	1191–1239	1191–1239	NUM
fsr-3185	478	9	.	.	PUNCT
fsr-3185	479	1	baker	baker	PROPN
fsr-3185	479	2	,	,	PUNCT
fsr-3185	479	3	m.	m.	NOUN
fsr-3185	479	4	,	,	PUNCT
fsr-3185	479	5	&	&	CCONJ
fsr-3185	479	6	wurgler	wurgler	PROPN
fsr-3185	479	7	,	,	PUNCT
fsr-3185	479	8	j.	j.	PROPN
fsr-3185	479	9	(	(	PUNCT
fsr-3185	479	10	2006	2006	NUM
fsr-3185	479	11	)	)	PUNCT
fsr-3185	479	12	.	.	PUNCT
fsr-3185	480	1	investor	investor	NOUN
fsr-3185	480	2	sentiment	sentiment	NOUN
fsr-3185	480	3	and	and	CCONJ
fsr-3185	480	4	the	the	DET
fsr-3185	480	5	cross	cross	NOUN
fsr-3185	480	6	-	-	NOUN
fsr-3185	480	7	section	section	NOUN
fsr-3185	480	8	of	of	ADP
fsr-3185	480	9	stock	stock	NOUN
fsr-3185	480	10	returns	return	NOUN
fsr-3185	480	11	.	.	PUNCT
fsr-3185	481	1	journal	journal	NOUN
fsr-3185	481	2	of	of	ADP
fsr-3185	481	3	finance	finance	NOUN
fsr-3185	481	4	,	,	PUNCT
fsr-3185	481	5	61	61	NUM
fsr-3185	481	6	,	,	PUNCT
fsr-3185	481	7	1645–1680	1645–1680	NUM
fsr-3185	481	8	.	.	PUNCT
fsr-3185	482	1	60	60	NUM
fsr-3185	482	2	m.a	m.a	PROPN
fsr-3185	482	3	.	.	PROPN
fsr-3185	482	4	johnson	johnson	PROPN
fsr-3185	482	5	,	,	PUNCT
fsr-3185	482	6	a.	a.	PROPN
fsr-3185	482	7	naka	naka	PROPN
fsr-3185	482	8	/	/	SYM
fsr-3185	482	9	financial	financial	ADJ
fsr-3185	482	10	services	service	NOUN
fsr-3185	482	11	review	review	VERB
fsr-3185	482	12	23	23	NUM
fsr-3185	482	13	(	(	PUNCT
fsr-3185	482	14	2014	2014	NUM
fsr-3185	482	15	)	)	PUNCT
fsr-3185	482	16	45–61	45–61	NUM
fsr-3185	482	17	baker	baker	PROPN
fsr-3185	482	18	,	,	PUNCT
fsr-3185	482	19	m.	m.	NOUN
fsr-3185	482	20	,	,	PUNCT
fsr-3185	482	21	&	&	CCONJ
fsr-3185	482	22	wurgler	wurgler	PROPN
fsr-3185	482	23	,	,	PUNCT
fsr-3185	482	24	j.	j.	PROPN
fsr-3185	482	25	(	(	PUNCT
fsr-3185	482	26	2007	2007	NUM
fsr-3185	482	27	)	)	PUNCT
fsr-3185	482	28	.	.	PUNCT
fsr-3185	483	1	investor	investor	NOUN
fsr-3185	483	2	sentiment	sentiment	NOUN
fsr-3185	483	3	in	in	ADP
fsr-3185	483	4	the	the	DET
fsr-3185	483	5	stock	stock	NOUN
fsr-3185	483	6	market	market	NOUN
fsr-3185	483	7	.	.	PUNCT
fsr-3185	484	1	journal	journal	NOUN
fsr-3185	484	2	of	of	ADP
fsr-3185	484	3	economic	economic	ADJ
fsr-3185	484	4	perspectives	perspective	NOUN
fsr-3185	484	5	,	,	PUNCT
fsr-3185	484	6	21	21	NUM
fsr-3185	484	7	,	,	PUNCT
fsr-3185	484	8	129–152	129–152	NUM
fsr-3185	484	9	.	.	PUNCT
fsr-3185	485	1	bakshi	bakshi	PROPN
fsr-3185	485	2	,	,	PUNCT
fsr-3185	485	3	g.	g.	PROPN
fsr-3185	485	4	,	,	PUNCT
fsr-3185	485	5	&	&	CCONJ
fsr-3185	485	6	chen	chen	PROPN
fsr-3185	485	7	,	,	PUNCT
fsr-3185	485	8	z.	z.	PROPN
fsr-3185	485	9	(	(	PUNCT
fsr-3185	485	10	1994	1994	NUM
fsr-3185	485	11	)	)	PUNCT
fsr-3185	485	12	.	.	PUNCT
fsr-3185	486	1	baby	baby	NOUN
fsr-3185	486	2	boom	boom	NOUN
fsr-3185	486	3	,	,	PUNCT
fsr-3185	486	4	population	population	NOUN
fsr-3185	486	5	aging	aging	NOUN
fsr-3185	486	6	,	,	PUNCT
fsr-3185	486	7	and	and	CCONJ
fsr-3185	486	8	capital	capital	NOUN
fsr-3185	486	9	markets	market	NOUN
fsr-3185	486	10	.	.	PUNCT
fsr-3185	487	1	journal	journal	NOUN
fsr-3185	487	2	of	of	ADP
fsr-3185	487	3	business	business	NOUN
fsr-3185	487	4	,	,	PUNCT
fsr-3185	487	5	67	67	NUM
fsr-3185	487	6	,	,	PUNCT
fsr-3185	487	7	165–202	165–202	NUM
fsr-3185	487	8	.	.	PUNCT
fsr-3185	488	1	campbell	campbell	PROPN
fsr-3185	488	2	,	,	PUNCT
fsr-3185	488	3	j.	j.	PROPN
fsr-3185	488	4	y.	y.	PROPN
fsr-3185	488	5	,	,	PUNCT
fsr-3185	488	6	lo	lo	PROPN
fsr-3185	488	7	,	,	PUNCT
fsr-3185	488	8	a.	a.	PROPN
fsr-3185	488	9	w.	w.	PROPN
fsr-3185	488	10	,	,	PUNCT
fsr-3185	488	11	&	&	CCONJ
fsr-3185	488	12	mackinlay	mackinlay	PROPN
fsr-3185	488	13	,	,	PUNCT
fsr-3185	488	14	a.	a.	PROPN
fsr-3185	488	15	c.	c.	PROPN
fsr-3185	488	16	(	(	PUNCT
fsr-3185	488	17	1997	1997	NUM
fsr-3185	488	18	)	)	PUNCT
fsr-3185	488	19	.	.	PUNCT
fsr-3185	489	1	the	the	DET
fsr-3185	489	2	econometrics	econometric	NOUN
fsr-3185	489	3	of	of	ADP
fsr-3185	489	4	financial	financial	ADJ
fsr-3185	489	5	markets	market	NOUN
fsr-3185	489	6	.	.	PUNCT
fsr-3185	490	1	princeton	princeton	PROPN
fsr-3185	490	2	,	,	PUNCT
fsr-3185	490	3	nj	nj	PROPN
fsr-3185	490	4	:	:	PUNCT
fsr-3185	490	5	princeton	princeton	PROPN
fsr-3185	490	6	university	university	PROPN
fsr-3185	490	7	press	press	NOUN
fsr-3185	490	8	.	.	PUNCT
fsr-3185	491	1	chung	chung	PROPN
fsr-3185	491	2	,	,	PUNCT
fsr-3185	491	3	s.	s.	PROPN
fsr-3185	491	4	,	,	PUNCT
fsr-3185	491	5	hung	hung	PROPN
fsr-3185	491	6	,	,	PUNCT
fsr-3185	491	7	c.	c.	PROPN
fsr-3185	491	8	,	,	PUNCT
fsr-3185	491	9	&	&	CCONJ
fsr-3185	491	10	yeh	yeh	PROPN
fsr-3185	491	11	,	,	PUNCT
fsr-3185	491	12	c.	c.	PROPN
fsr-3185	491	13	(	(	PUNCT
fsr-3185	491	14	2012	2012	NUM
fsr-3185	491	15	)	)	PUNCT
fsr-3185	491	16	.	.	PUNCT
fsr-3185	492	1	when	when	SCONJ
fsr-3185	492	2	does	do	AUX
fsr-3185	492	3	investor	investor	NOUN
fsr-3185	492	4	sentiment	sentiment	NOUN
fsr-3185	492	5	predict	predict	VERB
fsr-3185	492	6	stock	stock	NOUN
fsr-3185	492	7	returns	return	NOUN
fsr-3185	492	8	?	?	PUNCT
fsr-3185	493	1	journal	journal	NOUN
fsr-3185	493	2	of	of	ADP
fsr-3185	493	3	empirical	empirical	ADJ
fsr-3185	493	4	finance	finance	NOUN
fsr-3185	493	5	,	,	PUNCT
fsr-3185	493	6	19	19	NUM
fsr-3185	493	7	,	,	PUNCT
fsr-3185	493	8	217–240	217–240	NUM
fsr-3185	493	9	.	.	PUNCT
fsr-3185	494	1	fisher	fisher	PROPN
fsr-3185	494	2	,	,	PUNCT
fsr-3185	494	3	k.	k.	PROPN
fsr-3185	494	4	l.	l.	PROPN
fsr-3185	494	5	,	,	PUNCT
fsr-3185	494	6	&	&	CCONJ
fsr-3185	494	7	statman	statman	PROPN
fsr-3185	494	8	,	,	PUNCT
fsr-3185	494	9	m.	m.	NOUN
fsr-3185	494	10	(	(	PUNCT
fsr-3185	494	11	2003	2003	NUM
fsr-3185	494	12	)	)	PUNCT
fsr-3185	494	13	.	.	PUNCT
fsr-3185	495	1	consumer	consumer	NOUN
fsr-3185	495	2	confidence	confidence	NOUN
fsr-3185	495	3	and	and	CCONJ
fsr-3185	495	4	stock	stock	NOUN
fsr-3185	495	5	returns	return	NOUN
fsr-3185	495	6	.	.	PUNCT
fsr-3185	496	1	journal	journal	PROPN
fsr-3185	496	2	of	of	ADP
fsr-3185	496	3	portfolio	portfolio	NOUN
fsr-3185	496	4	management	management	NOUN
fsr-3185	496	5	,	,	PUNCT
fsr-3185	496	6	30	30	NUM
fsr-3185	496	7	,	,	PUNCT
fsr-3185	496	8	115–128	115–128	NUM
fsr-3185	496	9	.	.	PUNCT
fsr-3185	497	1	friedman	friedman	PROPN
fsr-3185	497	2	,	,	PUNCT
fsr-3185	497	3	j.	j.	PROPN
fsr-3185	497	4	,	,	PUNCT
fsr-3185	497	5	&	&	CCONJ
fsr-3185	497	6	phillips	phillips	PROPN
fsr-3185	497	7	,	,	PUNCT
fsr-3185	497	8	h.	h.	PROPN
fsr-3185	497	9	e.	e.	PROPN
fsr-3185	497	10	(	(	PUNCT
fsr-3185	497	11	2010	2010	NUM
fsr-3185	497	12	)	)	PUNCT
fsr-3185	497	13	.	.	PUNCT
fsr-3185	498	1	the	the	DET
fsr-3185	498	2	downside	downside	ADJ
fsr-3185	498	3	risk	risk	NOUN
fsr-3185	498	4	of	of	ADP
fsr-3185	498	5	postponing	postpone	VERB
fsr-3185	498	6	social	social	ADJ
fsr-3185	498	7	security	security	NOUN
fsr-3185	498	8	benefits	benefit	NOUN
fsr-3185	498	9	.	.	PUNCT
fsr-3185	499	1	financial	financial	ADJ
fsr-3185	499	2	services	service	NOUN
fsr-3185	499	3	review	review	PROPN
fsr-3185	499	4	,	,	PUNCT
fsr-3185	499	5	19	19	NUM
fsr-3185	499	6	,	,	PUNCT
fsr-3185	499	7	285–294	285–294	NUM
fsr-3185	499	8	.	.	PUNCT
fsr-3185	500	1	gibson	gibson	PROPN
fsr-3185	500	2	,	,	PUNCT
fsr-3185	500	3	r.	r.	PROPN
fsr-3185	500	4	,	,	PUNCT
fsr-3185	500	5	michayluk	michayluk	PROPN
fsr-3185	500	6	,	,	PUNCT
fsr-3185	500	7	d.	d.	PROPN
fsr-3185	500	8	,	,	PUNCT
fsr-3185	500	9	&	&	CCONJ
fsr-3185	500	10	van	van	PROPN
fsr-3185	500	11	de	de	PROPN
fsr-3185	500	12	venter	venter	PROPN
fsr-3185	500	13	,	,	PUNCT
fsr-3185	500	14	g.	g.	PROPN
fsr-3185	500	15	(	(	PUNCT
fsr-3185	500	16	2013	2013	NUM
fsr-3185	500	17	)	)	PUNCT
fsr-3185	500	18	.	.	PUNCT
fsr-3185	501	1	financial	financial	ADJ
fsr-3185	501	2	risk	risk	NOUN
fsr-3185	501	3	tolerance	tolerance	NOUN
fsr-3185	501	4	:	:	PUNCT
fsr-3185	501	5	an	an	DET
fsr-3185	501	6	analysis	analysis	NOUN
fsr-3185	501	7	of	of	ADP
fsr-3185	501	8	unexplored	unexplored	ADJ
fsr-3185	501	9	factors	factor	NOUN
fsr-3185	501	10	.	.	PUNCT
fsr-3185	502	1	financial	financial	ADJ
fsr-3185	502	2	services	service	NOUN
fsr-3185	502	3	review	review	PROPN
fsr-3185	502	4	,	,	PUNCT
fsr-3185	502	5	22	22	NUM
fsr-3185	502	6	,	,	PUNCT
fsr-3185	502	7	23–50	23–50	NUM
fsr-3185	502	8	.	.	PUNCT
fsr-3185	503	1	halek	halek	PROPN
fsr-3185	503	2	,	,	PUNCT
fsr-3185	503	3	m.	m.	NOUN
fsr-3185	503	4	,	,	PUNCT
fsr-3185	503	5	&	&	CCONJ
fsr-3185	503	6	eisenhauer	eisenhauer	PROPN
fsr-3185	503	7	,	,	PUNCT
fsr-3185	503	8	j.	j.	PROPN
fsr-3185	503	9	g.	g.	PROPN
fsr-3185	503	10	(	(	PUNCT
fsr-3185	503	11	2001	2001	NUM
fsr-3185	503	12	)	)	PUNCT
fsr-3185	503	13	.	.	PUNCT
fsr-3185	504	1	demography	demography	NOUN
fsr-3185	504	2	of	of	ADP
fsr-3185	504	3	risk	risk	NOUN
fsr-3185	504	4	aversion	aversion	NOUN
fsr-3185	504	5	.	.	PUNCT
fsr-3185	505	1	journal	journal	NOUN
fsr-3185	505	2	of	of	ADP
fsr-3185	505	3	risk	risk	NOUN
fsr-3185	505	4	and	and	CCONJ
fsr-3185	505	5	insurance	insurance	NOUN
fsr-3185	505	6	,	,	PUNCT
fsr-3185	505	7	68	68	NUM
fsr-3185	505	8	,	,	PUNCT
fsr-3185	505	9	1–24	1–24	PROPN
fsr-3185	505	10	.	.	PUNCT
fsr-3185	506	1	hariharan	hariharan	PROPN
fsr-3185	506	2	,	,	PUNCT
fsr-3185	506	3	g.	g.	PROPN
fsr-3185	506	4	,	,	PUNCT
fsr-3185	506	5	chapman	chapman	PROPN
fsr-3185	506	6	,	,	PUNCT
fsr-3185	506	7	k.	k.	PROPN
fsr-3185	506	8	s.	s.	PROPN
fsr-3185	506	9	,	,	PUNCT
fsr-3185	506	10	&	&	CCONJ
fsr-3185	506	11	domian	domian	PROPN
fsr-3185	506	12	,	,	PUNCT
fsr-3185	506	13	d.	d.	PROPN
fsr-3185	506	14	l.	l.	PROPN
fsr-3185	506	15	(	(	PUNCT
fsr-3185	506	16	2000	2000	NUM
fsr-3185	506	17	)	)	PUNCT
fsr-3185	506	18	.	.	PUNCT
fsr-3185	507	1	risk	risk	NOUN
fsr-3185	507	2	tolerance	tolerance	NOUN
fsr-3185	507	3	and	and	CCONJ
fsr-3185	507	4	asset	asset	NOUN
fsr-3185	507	5	allocation	allocation	NOUN
fsr-3185	507	6	for	for	ADP
fsr-3185	507	7	investors	investor	NOUN
fsr-3185	507	8	nearing	near	VERB
fsr-3185	507	9	retirement	retirement	NOUN
fsr-3185	507	10	.	.	PUNCT
fsr-3185	508	1	financial	financial	ADJ
fsr-3185	508	2	services	service	NOUN
fsr-3185	508	3	review	review	NOUN
fsr-3185	508	4	,	,	PUNCT
fsr-3185	508	5	9	9	NUM
fsr-3185	508	6	,	,	PUNCT
fsr-3185	508	7	159	159	NUM
fsr-3185	508	8	.	.	PUNCT
fsr-3185	508	9	harlow	harlow	PROPN
fsr-3185	508	10	,	,	PUNCT
fsr-3185	508	11	w.	w.	PROPN
fsr-3185	508	12	v.	v.	PROPN
fsr-3185	508	13	,	,	PUNCT
fsr-3185	508	14	&	&	CCONJ
fsr-3185	508	15	rao	rao	PROPN
fsr-3185	508	16	,	,	PUNCT
fsr-3185	508	17	r.	r.	PROPN
fsr-3185	508	18	k.	k.	PROPN
fsr-3185	508	19	s.	s.	PROPN
fsr-3185	508	20	(	(	PUNCT
fsr-3185	508	21	1989	1989	NUM
fsr-3185	508	22	)	)	PUNCT
fsr-3185	508	23	.	.	PUNCT
fsr-3185	509	1	asset	asset	NOUN
fsr-3185	509	2	pricing	pricing	NOUN
fsr-3185	509	3	in	in	ADP
fsr-3185	509	4	a	a	DET
fsr-3185	509	5	generalized	generalized	ADJ
fsr-3185	509	6	mean	mean	ADJ
fsr-3185	509	7	-	-	PUNCT
fsr-3185	509	8	lower	low	ADJ
fsr-3185	509	9	partial	partial	ADJ
fsr-3185	509	10	moment	moment	NOUN
fsr-3185	509	11	framework	framework	NOUN
fsr-3185	509	12	:	:	PUNCT
fsr-3185	509	13	theory	theory	NOUN
fsr-3185	509	14	and	and	CCONJ
fsr-3185	509	15	evidence	evidence	NOUN
fsr-3185	509	16	.	.	PUNCT
fsr-3185	510	1	journal	journal	NOUN
fsr-3185	510	2	of	of	ADP
fsr-3185	510	3	financial	financial	ADJ
fsr-3185	510	4	and	and	CCONJ
fsr-3185	510	5	quantitative	quantitative	ADJ
fsr-3185	510	6	analysis	analysis	NOUN
fsr-3185	510	7	,	,	PUNCT
fsr-3185	510	8	24	24	NUM
fsr-3185	510	9	,	,	PUNCT
fsr-3185	510	10	285–311	285–311	NUM
fsr-3185	510	11	.	.	PUNCT
fsr-3185	511	1	ho	ho	PROPN
fsr-3185	511	2	,	,	PUNCT
fsr-3185	511	3	c.	c.	PROPN
fsr-3185	511	4	,	,	PUNCT
fsr-3185	511	5	&	&	CCONJ
fsr-3185	511	6	hung	hung	PROPN
fsr-3185	511	7	,	,	PUNCT
fsr-3185	511	8	c.	c.	PROPN
fsr-3185	511	9	(	(	PUNCT
fsr-3185	511	10	2009	2009	NUM
fsr-3185	511	11	)	)	PUNCT
fsr-3185	511	12	.	.	PUNCT
fsr-3185	512	1	investor	investor	NOUN
fsr-3185	512	2	sentiment	sentiment	NOUN
fsr-3185	512	3	as	as	ADP
fsr-3185	512	4	conditioning	condition	VERB
fsr-3185	512	5	information	information	NOUN
fsr-3185	512	6	in	in	ADP
fsr-3185	512	7	asset	asset	NOUN
fsr-3185	512	8	pricing	pricing	NOUN
fsr-3185	512	9	.	.	PUNCT
fsr-3185	513	1	journal	journal	NOUN
fsr-3185	513	2	of	of	ADP
fsr-3185	513	3	banking	banking	NOUN
fsr-3185	513	4	and	and	CCONJ
fsr-3185	513	5	finance	finance	NOUN
fsr-3185	513	6	,	,	PUNCT
fsr-3185	513	7	33	33	NUM
fsr-3185	513	8	,	,	PUNCT
fsr-3185	513	9	892–903	892–903	NUM
fsr-3185	513	10	.	.	PUNCT
fsr-3185	514	1	kahneman	kahneman	PROPN
fsr-3185	514	2	,	,	PUNCT
fsr-3185	514	3	d.	d.	PROPN
fsr-3185	514	4	,	,	PUNCT
fsr-3185	514	5	&	&	CCONJ
fsr-3185	514	6	tversky	tversky	PROPN
fsr-3185	514	7	,	,	PUNCT
fsr-3185	514	8	a.	a.	NOUN
fsr-3185	514	9	(	(	PUNCT
fsr-3185	514	10	1979	1979	NUM
fsr-3185	514	11	)	)	PUNCT
fsr-3185	514	12	.	.	PUNCT
fsr-3185	515	1	prospect	prospect	PROPN
fsr-3185	515	2	theory	theory	NOUN
fsr-3185	515	3	:	:	PUNCT
fsr-3185	515	4	an	an	DET
fsr-3185	515	5	analysis	analysis	NOUN
fsr-3185	515	6	of	of	ADP
fsr-3185	515	7	decision	decision	NOUN
fsr-3185	515	8	under	under	ADP
fsr-3185	515	9	risk	risk	NOUN
fsr-3185	515	10	.	.	PUNCT
fsr-3185	516	1	econometrica	econometrica	PROPN
fsr-3185	516	2	,	,	PUNCT
fsr-3185	516	3	47	47	NUM
fsr-3185	516	4	,	,	PUNCT
fsr-3185	516	5	263–291	263–291	NUM
fsr-3185	516	6	.	.	PUNCT
fsr-3185	517	1	larkin	larkin	PROPN
fsr-3185	517	2	,	,	PUNCT
fsr-3185	517	3	c.	c.	PROPN
fsr-3185	517	4	,	,	PUNCT
fsr-3185	517	5	lucey	lucey	PROPN
fsr-3185	517	6	,	,	PUNCT
fsr-3185	517	7	b.	b.	PROPN
fsr-3185	517	8	m.	m.	PROPN
fsr-3185	517	9	,	,	PUNCT
fsr-3185	517	10	&	&	CCONJ
fsr-3185	517	11	mulholland	mulholland	NOUN
fsr-3185	517	12	,	,	PUNCT
fsr-3185	517	13	m.	m.	NOUN
fsr-3185	517	14	(	(	PUNCT
fsr-3185	517	15	2013	2013	NUM
fsr-3185	517	16	)	)	PUNCT
fsr-3185	517	17	.	.	PUNCT
fsr-3185	518	1	risk	risk	NOUN
fsr-3185	518	2	tolerance	tolerance	NOUN
fsr-3185	518	3	and	and	CCONJ
fsr-3185	518	4	demographic	demographic	ADJ
fsr-3185	518	5	characteristics	characteristic	NOUN
fsr-3185	518	6	:	:	PUNCT
fsr-3185	518	7	preliminary	preliminary	ADJ
fsr-3185	518	8	irish	irish	ADJ
fsr-3185	518	9	evidence	evidence	NOUN
fsr-3185	518	10	.	.	PUNCT
fsr-3185	519	1	financial	financial	ADJ
fsr-3185	519	2	services	service	NOUN
fsr-3185	519	3	review	review	PROPN
fsr-3185	519	4	,	,	PUNCT
fsr-3185	519	5	22	22	NUM
fsr-3185	519	6	,	,	PUNCT
fsr-3185	519	7	77–91	77–91	NUM
fsr-3185	519	8	.	.	PUNCT
fsr-3185	520	1	lee	lee	PROPN
fsr-3185	520	2	,	,	PUNCT
fsr-3185	520	3	c.	c.	PROPN
fsr-3185	520	4	m.	m.	PROPN
fsr-3185	520	5	c.	c.	PROPN
fsr-3185	520	6	,	,	PUNCT
fsr-3185	520	7	shleifer	shleifer	PROPN
fsr-3185	520	8	,	,	PUNCT
fsr-3185	520	9	a.	a.	NOUN
fsr-3185	520	10	,	,	PUNCT
fsr-3185	520	11	&	&	CCONJ
fsr-3185	520	12	thaler	thaler	PROPN
fsr-3185	520	13	,	,	PUNCT
fsr-3185	520	14	r.	r.	PROPN
fsr-3185	520	15	h.	h.	PROPN
fsr-3185	520	16	(	(	PUNCT
fsr-3185	520	17	1991	1991	NUM
fsr-3185	520	18	)	)	PUNCT
fsr-3185	520	19	.	.	PUNCT
fsr-3185	521	1	investor	investor	NOUN
fsr-3185	521	2	sentiment	sentiment	NOUN
fsr-3185	521	3	and	and	CCONJ
fsr-3185	521	4	the	the	DET
fsr-3185	521	5	closed	close	VERB
fsr-3185	521	6	-	-	PUNCT
fsr-3185	521	7	end	end	NOUN
fsr-3185	521	8	fund	fund	NOUN
fsr-3185	521	9	puzzle	puzzle	NOUN
fsr-3185	521	10	.	.	PUNCT
fsr-3185	522	1	journal	journal	NOUN
fsr-3185	522	2	of	of	ADP
fsr-3185	522	3	finance	finance	NOUN
fsr-3185	522	4	,	,	PUNCT
fsr-3185	522	5	46	46	NUM
fsr-3185	522	6	,	,	PUNCT
fsr-3185	522	7	75–109	75–109	NUM
fsr-3185	522	8	.	.	PUNCT
fsr-3185	522	9	lemmon	lemmon	PROPN
fsr-3185	522	10	,	,	PUNCT
fsr-3185	522	11	m.	m.	NOUN
fsr-3185	522	12	,	,	PUNCT
fsr-3185	522	13	&	&	CCONJ
fsr-3185	522	14	portniaguina	portniaguina	PROPN
fsr-3185	522	15	,	,	PUNCT
fsr-3185	522	16	e.	e.	PROPN
fsr-3185	522	17	(	(	PUNCT
fsr-3185	522	18	2006	2006	NUM
fsr-3185	522	19	)	)	PUNCT
fsr-3185	522	20	.	.	PUNCT
fsr-3185	523	1	consumer	consumer	NOUN
fsr-3185	523	2	confidence	confidence	NOUN
fsr-3185	523	3	and	and	CCONJ
fsr-3185	523	4	asset	asset	NOUN
fsr-3185	523	5	prices	price	NOUN
fsr-3185	523	6	:	:	PUNCT
fsr-3185	523	7	some	some	DET
fsr-3185	523	8	empirical	empirical	ADJ
fsr-3185	523	9	evidence	evidence	NOUN
fsr-3185	523	10	.	.	PUNCT
fsr-3185	524	1	review	review	NOUN
fsr-3185	524	2	of	of	ADP
fsr-3185	524	3	financial	financial	ADJ
fsr-3185	524	4	studies	study	NOUN
fsr-3185	524	5	,	,	PUNCT
fsr-3185	524	6	19	19	NUM
fsr-3185	524	7	,	,	PUNCT
fsr-3185	524	8	1499–1529	1499–1529	NUM
fsr-3185	524	9	.	.	PUNCT
fsr-3185	525	1	ludvigson	ludvigson	PROPN
fsr-3185	525	2	,	,	PUNCT
fsr-3185	525	3	s.	s.	PROPN
fsr-3185	525	4	c.	c.	PROPN
fsr-3185	525	5	(	(	PUNCT
fsr-3185	525	6	2004	2004	NUM
fsr-3185	525	7	)	)	PUNCT
fsr-3185	525	8	.	.	PUNCT
fsr-3185	526	1	consumer	consumer	NOUN
fsr-3185	526	2	confidence	confidence	NOUN
fsr-3185	526	3	and	and	CCONJ
fsr-3185	526	4	consumer	consumer	NOUN
fsr-3185	526	5	spending	spending	NOUN
fsr-3185	526	6	.	.	PUNCT
fsr-3185	527	1	journal	journal	NOUN
fsr-3185	527	2	of	of	ADP
fsr-3185	527	3	economic	economic	ADJ
fsr-3185	527	4	perspectives	perspective	NOUN
fsr-3185	527	5	,	,	PUNCT
fsr-3185	527	6	18	18	NUM
fsr-3185	527	7	,	,	PUNCT
fsr-3185	527	8	29–50	29–50	NUM
fsr-3185	527	9	.	.	PUNCT
fsr-3185	528	1	qiu	qiu	PROPN
fsr-3185	528	2	,	,	PUNCT
fsr-3185	528	3	l.	l.	PROPN
fsr-3185	528	4	x.	x.	PROPN
fsr-3185	528	5	,	,	PUNCT
fsr-3185	528	6	&	&	CCONJ
fsr-3185	528	7	welch	welch	PROPN
fsr-3185	528	8	,	,	PUNCT
fsr-3185	528	9	i.	i.	PROPN
fsr-3185	528	10	(	(	PUNCT
fsr-3185	528	11	2006	2006	NUM
fsr-3185	528	12	)	)	PUNCT
fsr-3185	528	13	.	.	PUNCT
fsr-3185	529	1	investor	investor	NOUN
fsr-3185	529	2	sentiment	sentiment	NOUN
fsr-3185	529	3	measures	measure	NOUN
fsr-3185	529	4	.	.	PUNCT
fsr-3185	530	1	working	work	VERB
fsr-3185	530	2	paper	paper	NOUN
fsr-3185	530	3	,	,	PUNCT
fsr-3185	530	4	brown	brown	ADJ
fsr-3185	530	5	university	university	NOUN
fsr-3185	530	6	.	.	PUNCT
fsr-3185	531	1	reilly	reilly	PROPN
fsr-3185	531	2	,	,	PUNCT
fsr-3185	531	3	f.	f.	PROPN
fsr-3185	531	4	k.	k.	PROPN
fsr-3185	531	5	,	,	PUNCT
fsr-3185	531	6	&	&	CCONJ
fsr-3185	531	7	brown	brown	PROPN
fsr-3185	531	8	,	,	PUNCT
fsr-3185	531	9	k.	k.	PROPN
fsr-3185	531	10	c.	c.	PROPN
fsr-3185	531	11	(	(	PUNCT
fsr-3185	531	12	2008	2008	NUM
fsr-3185	531	13	)	)	PUNCT
fsr-3185	531	14	.	.	PUNCT
fsr-3185	532	1	investment	investment	NOUN
fsr-3185	532	2	analysis	analysis	NOUN
fsr-3185	532	3	and	and	CCONJ
fsr-3185	532	4	portfolio	portfolio	NOUN
fsr-3185	532	5	management	management	NOUN
fsr-3185	532	6	(	(	PUNCT
fsr-3185	532	7	9th	9th	ADJ
fsr-3185	532	8	ed	ed	NOUN
fsr-3185	532	9	.	.	PUNCT
fsr-3185	532	10	)	)	PUNCT
fsr-3185	532	11	.	.	PUNCT
fsr-3185	533	1	boston	boston	PROPN
fsr-3185	533	2	,	,	PUNCT
fsr-3185	533	3	ma	ma	PROPN
fsr-3185	533	4	:	:	PUNCT
fsr-3185	533	5	south	south	ADJ
fsr-3185	533	6	-	-	PUNCT
fsr-3185	533	7	western	western	ADJ
fsr-3185	533	8	publishing	publishing	NOUN
fsr-3185	533	9	.	.	PUNCT
fsr-3185	534	1	rich	rich	ADJ
fsr-3185	534	2	,	,	PUNCT
fsr-3185	534	3	s.	s.	PROPN
fsr-3185	534	4	p.	p.	PROPN
fsr-3185	534	5	,	,	PUNCT
fsr-3185	534	6	&	&	CCONJ
fsr-3185	534	7	reichenstein	reichenstein	PROPN
fsr-3185	534	8	,	,	PUNCT
fsr-3185	534	9	w.	w.	PROPN
fsr-3185	534	10	(	(	PUNCT
fsr-3185	534	11	1993	1993	NUM
fsr-3185	534	12	)	)	PUNCT
fsr-3185	534	13	.	.	PUNCT
fsr-3185	535	1	market	market	NOUN
fsr-3185	535	2	timing	timing	NOUN
fsr-3185	535	3	for	for	ADP
fsr-3185	535	4	the	the	DET
fsr-3185	535	5	individual	individual	ADJ
fsr-3185	535	6	investor	investor	NOUN
fsr-3185	535	7	:	:	PUNCT
fsr-3185	535	8	using	use	VERB
fsr-3185	535	9	the	the	DET
fsr-3185	535	10	predictability	predictability	NOUN
fsr-3185	535	11	of	of	ADP
fsr-3185	535	12	long	long	ADJ
fsr-3185	535	13	-	-	PUNCT
fsr-3185	535	14	horizon	horizon	NOUN
fsr-3185	535	15	stock	stock	NOUN
fsr-3185	535	16	returns	return	NOUN
fsr-3185	535	17	to	to	PART
fsr-3185	535	18	enhance	enhance	VERB
fsr-3185	535	19	portfolio	portfolio	NOUN
fsr-3185	535	20	performance	performance	NOUN
fsr-3185	535	21	.	.	PUNCT
fsr-3185	536	1	financial	financial	ADJ
fsr-3185	536	2	services	service	NOUN
fsr-3185	536	3	review	review	PROPN
fsr-3185	536	4	,	,	PUNCT
fsr-3185	536	5	3	3	NUM
fsr-3185	536	6	,	,	PUNCT
fsr-3185	536	7	28	28	NUM
fsr-3185	536	8	.	.	PUNCT
fsr-3185	537	1	riley	riley	PROPN
fsr-3185	537	2	,	,	PUNCT
fsr-3185	537	3	w.	w.	PROPN
fsr-3185	537	4	,	,	PUNCT
fsr-3185	537	5	&	&	CCONJ
fsr-3185	537	6	chow	chow	PROPN
fsr-3185	537	7	,	,	PUNCT
fsr-3185	537	8	k.	k.	PROPN
fsr-3185	537	9	v.	v.	PROPN
fsr-3185	537	10	(	(	PUNCT
fsr-3185	537	11	1992	1992	NUM
fsr-3185	537	12	)	)	PUNCT
fsr-3185	537	13	.	.	PUNCT
fsr-3185	538	1	asset	asset	NOUN
fsr-3185	538	2	allocation	allocation	NOUN
fsr-3185	538	3	and	and	CCONJ
fsr-3185	538	4	individual	individual	ADJ
fsr-3185	538	5	risk	risk	NOUN
fsr-3185	538	6	aversion	aversion	NOUN
fsr-3185	538	7	.	.	PUNCT
fsr-3185	539	1	financial	financial	ADJ
fsr-3185	539	2	analysts	analyst	NOUN
fsr-3185	539	3	journal	journal	NOUN
fsr-3185	539	4	,	,	PUNCT
fsr-3185	539	5	48	48	NUM
fsr-3185	539	6	,	,	PUNCT
fsr-3185	539	7	32–37	32–37	NUM
fsr-3185	539	8	.	.	PUNCT
fsr-3185	540	1	schmeling	schmele	VERB
fsr-3185	540	2	,	,	PUNCT
fsr-3185	540	3	m.	m.	NOUN
fsr-3185	540	4	(	(	PUNCT
fsr-3185	540	5	2009	2009	NUM
fsr-3185	540	6	)	)	PUNCT
fsr-3185	540	7	.	.	PUNCT
fsr-3185	541	1	investor	investor	NOUN
fsr-3185	541	2	sentiment	sentiment	NOUN
fsr-3185	541	3	and	and	CCONJ
fsr-3185	541	4	stock	stock	NOUN
fsr-3185	541	5	returns	return	NOUN
fsr-3185	541	6	:	:	PUNCT
fsr-3185	541	7	some	some	DET
fsr-3185	541	8	international	international	ADJ
fsr-3185	541	9	evidence	evidence	NOUN
fsr-3185	541	10	.	.	PUNCT
fsr-3185	542	1	journal	journal	NOUN
fsr-3185	542	2	of	of	ADP
fsr-3185	542	3	empirical	empirical	ADJ
fsr-3185	542	4	finance	finance	NOUN
fsr-3185	542	5	,	,	PUNCT
fsr-3185	542	6	16	16	NUM
fsr-3185	542	7	,	,	PUNCT
fsr-3185	542	8	394–408	394–408	NUM
fsr-3185	542	9	.	.	PUNCT
fsr-3185	543	1	schooley	schooley	PROPN
fsr-3185	543	2	,	,	PUNCT
fsr-3185	543	3	d.	d.	PROPN
fsr-3185	543	4	k.	k.	PROPN
fsr-3185	543	5	,	,	PUNCT
fsr-3185	543	6	&	&	CCONJ
fsr-3185	543	7	worden	worden	PROPN
fsr-3185	543	8	,	,	PUNCT
fsr-3185	543	9	d.	d.	PROPN
fsr-3185	543	10	(	(	PUNCT
fsr-3185	543	11	1996	1996	NUM
fsr-3185	543	12	)	)	PUNCT
fsr-3185	543	13	.	.	PUNCT
fsr-3185	544	1	risk	risk	NOUN
fsr-3185	544	2	aversion	aversion	NOUN
fsr-3185	544	3	measures	measure	NOUN
fsr-3185	544	4	:	:	PUNCT
fsr-3185	544	5	comparing	compare	VERB
fsr-3185	544	6	attitudes	attitude	NOUN
fsr-3185	544	7	and	and	CCONJ
fsr-3185	544	8	asset	asset	NOUN
fsr-3185	544	9	allocation	allocation	NOUN
fsr-3185	544	10	.	.	PUNCT
fsr-3185	545	1	financial	financial	ADJ
fsr-3185	545	2	services	service	NOUN
fsr-3185	545	3	review	review	PROPN
fsr-3185	545	4	,	,	PUNCT
fsr-3185	545	5	5	5	NUM
fsr-3185	545	6	,	,	PUNCT
fsr-3185	545	7	87	87	NUM
fsr-3185	545	8	.	.	PUNCT
fsr-3185	546	1	stambaugh	stambaugh	PROPN
fsr-3185	546	2	,	,	PUNCT
fsr-3185	546	3	r.	r.	PROPN
fsr-3185	546	4	,	,	PUNCT
fsr-3185	546	5	yu	yu	PROPN
fsr-3185	546	6	,	,	PUNCT
fsr-3185	546	7	j.	j.	PROPN
fsr-3185	546	8	,	,	PUNCT
fsr-3185	546	9	&	&	CCONJ
fsr-3185	546	10	yuan	yuan	PROPN
fsr-3185	546	11	,	,	PUNCT
fsr-3185	546	12	y.	y.	PROPN
fsr-3185	546	13	(	(	PUNCT
fsr-3185	546	14	2012	2012	NUM
fsr-3185	546	15	)	)	PUNCT
fsr-3185	546	16	.	.	PUNCT
fsr-3185	547	1	the	the	DET
fsr-3185	547	2	short	short	NOUN
fsr-3185	547	3	of	of	ADP
fsr-3185	547	4	it	it	PRON
fsr-3185	547	5	:	:	PUNCT
fsr-3185	547	6	investor	investor	NOUN
fsr-3185	547	7	sentiment	sentiment	NOUN
fsr-3185	547	8	and	and	CCONJ
fsr-3185	547	9	anomalies	anomaly	NOUN
fsr-3185	547	10	.	.	PUNCT
fsr-3185	548	1	journal	journal	NOUN
fsr-3185	548	2	of	of	ADP
fsr-3185	548	3	financial	financial	ADJ
fsr-3185	548	4	economics	economic	NOUN
fsr-3185	548	5	,	,	PUNCT
fsr-3185	548	6	104	104	NUM
fsr-3185	548	7	,	,	PUNCT
fsr-3185	548	8	288–302	288–302	NUM
fsr-3185	548	9	.	.	PUNCT
fsr-3185	549	1	valkanov	valkanov	PROPN
fsr-3185	549	2	,	,	PUNCT
fsr-3185	549	3	r.	r.	PROPN
fsr-3185	549	4	(	(	PUNCT
fsr-3185	549	5	2003	2003	NUM
fsr-3185	549	6	)	)	PUNCT
fsr-3185	549	7	.	.	PUNCT
fsr-3185	550	1	long	long	ADJ
fsr-3185	550	2	-	-	PUNCT
fsr-3185	550	3	horizon	horizon	NOUN
fsr-3185	550	4	regressions	regression	NOUN
fsr-3185	550	5	:	:	PUNCT
fsr-3185	550	6	theoretical	theoretical	ADJ
fsr-3185	550	7	results	result	NOUN
fsr-3185	550	8	and	and	CCONJ
fsr-3185	550	9	application	application	NOUN
fsr-3185	550	10	.	.	PUNCT
fsr-3185	551	1	journal	journal	NOUN
fsr-3185	551	2	of	of	ADP
fsr-3185	551	3	financial	financial	ADJ
fsr-3185	551	4	economics	economic	NOUN
fsr-3185	551	5	,	,	PUNCT
fsr-3185	551	6	68	68	NUM
fsr-3185	551	7	,	,	PUNCT
fsr-3185	551	8	201–232	201–232	NUM
fsr-3185	551	9	.	.	PUNCT
fsr-3185	552	1	yu	yu	PROPN
fsr-3185	552	2	,	,	PUNCT
fsr-3185	552	3	j.	j.	PROPN
fsr-3185	552	4	,	,	PUNCT
fsr-3185	552	5	&	&	CCONJ
fsr-3185	552	6	yuan	yuan	PROPN
fsr-3185	552	7	,	,	PUNCT
fsr-3185	552	8	y.	y.	PROPN
fsr-3185	552	9	(	(	PUNCT
fsr-3185	552	10	2011	2011	NUM
fsr-3185	552	11	)	)	PUNCT
fsr-3185	552	12	.	.	PUNCT
fsr-3185	553	1	investor	investor	NOUN
fsr-3185	553	2	sentiment	sentiment	NOUN
fsr-3185	553	3	and	and	CCONJ
fsr-3185	553	4	the	the	DET
fsr-3185	553	5	mean	mean	ADJ
fsr-3185	553	6	–	–	PUNCT
fsr-3185	553	7	variance	variance	NOUN
fsr-3185	553	8	relation	relation	NOUN
fsr-3185	553	9	.	.	PUNCT
fsr-3185	554	1	journal	journal	PROPN
fsr-3185	554	2	of	of	ADP
fsr-3185	554	3	financial	financial	ADJ
fsr-3185	554	4	economics	economic	NOUN
fsr-3185	554	5	,	,	PUNCT
fsr-3185	554	6	100	100	NUM
fsr-3185	554	7	,	,	PUNCT
fsr-3185	554	8	367–381	367–381	NUM
fsr-3185	554	9	.	.	PUNCT
fsr-3185	555	1	61m.a	61m.a	NUM
fsr-3185	555	2	.	.	PUNCT
fsr-3185	556	1	johnson	johnson	PROPN
fsr-3185	556	2	,	,	PUNCT
fsr-3185	556	3	a.	a.	PROPN
fsr-3185	556	4	naka	naka	PROPN
fsr-3185	556	5	/	/	SYM
fsr-3185	556	6	financial	financial	ADJ
fsr-3185	556	7	services	service	NOUN
fsr-3185	556	8	review	review	VERB
fsr-3185	556	9	23	23	NUM
fsr-3185	556	10	(	(	PUNCT
fsr-3185	556	11	2014	2014	NUM
fsr-3185	556	12	)	)	PUNCT
fsr-3185	557	1	45–61	45–61	NUM