id	sid	tid	token	lemma	pos
fsr-3187	1	1	finser_23_1	finser_23_1	PROPN
fsr-3187	1	2	performance	performance	NOUN
fsr-3187	1	3	and	and	CCONJ
fsr-3187	1	4	persistence	persistence	NOUN
fsr-3187	1	5	of	of	ADP
fsr-3187	1	6	performance	performance	NOUN
fsr-3187	1	7	of	of	ADP
fsr-3187	1	8	healthcare	healthcare	PROPN
fsr-3187	1	9	mutual	mutual	ADJ
fsr-3187	1	10	funds	fund	NOUN
fsr-3187	1	11	abhay	abhay	PROPN
fsr-3187	1	12	kaushika	kaushika	PROPN
fsr-3187	1	13	,	,	PUNCT
fsr-3187	1	14	*	*	PROPN
fsr-3187	1	15	,	,	PUNCT
fsr-3187	1	16	lynn	lynn	PROPN
fsr-3187	1	17	k.	k.	PROPN
fsr-3187	1	18	saubertb	saubertb	PROPN
fsr-3187	1	19	,	,	PUNCT
fsr-3187	1	20	r.	r.	PROPN
fsr-3187	1	21	wayne	wayne	PROPN
fsr-3187	1	22	saubertc	saubertc	PROPN
fsr-3187	1	23	a	a	DET
fsr-3187	1	24	,	,	PUNCT
fsr-3187	1	25	b	b	NOUN
fsr-3187	1	26	,	,	PUNCT
fsr-3187	1	27	cdepartment	cdepartment	NOUN
fsr-3187	1	28	of	of	ADP
fsr-3187	1	29	accounting	accounting	NOUN
fsr-3187	1	30	,	,	PUNCT
fsr-3187	1	31	finance	finance	NOUN
fsr-3187	1	32	,	,	PUNCT
fsr-3187	1	33	and	and	CCONJ
fsr-3187	1	34	business	business	NOUN
fsr-3187	1	35	law	law	NOUN
fsr-3187	1	36	,	,	PUNCT
fsr-3187	1	37	college	college	NOUN
fsr-3187	1	38	of	of	ADP
fsr-3187	1	39	business	business	NOUN
fsr-3187	1	40	and	and	CCONJ
fsr-3187	1	41	economics	economic	NOUN
fsr-3187	1	42	,	,	PUNCT
fsr-3187	1	43	radford	radford	PROPN
fsr-3187	1	44	university	university	PROPN
fsr-3187	1	45	,	,	PUNCT
fsr-3187	1	46	radford	radford	PROPN
fsr-3187	1	47	,	,	PUNCT
fsr-3187	1	48	va	va	PROPN
fsr-3187	1	49	24142	24142	NUM
fsr-3187	1	50	,	,	PUNCT
fsr-3187	1	51	usa	usa	PROPN
fsr-3187	1	52	.	.	PROPN
fsr-3187	2	1	abstract	abstract	PROPN
fsr-3187	2	2	this	this	DET
fsr-3187	2	3	study	study	NOUN
fsr-3187	2	4	analyzes	analyze	VERB
fsr-3187	2	5	115	115	NUM
fsr-3187	2	6	actively	actively	ADV
fsr-3187	2	7	managed	manage	VERB
fsr-3187	2	8	domestic	domestic	ADJ
fsr-3187	2	9	healthcare	healthcare	NOUN
fsr-3187	2	10	mutual	mutual	ADJ
fsr-3187	2	11	funds	fund	NOUN
fsr-3187	2	12	over	over	ADP
fsr-3187	2	13	the	the	DET
fsr-3187	2	14	period	period	NOUN
fsr-3187	2	15	1/2000–12/2011	1/2000–12/2011	X
fsr-3187	2	16	.	.	PUNCT
fsr-3187	3	1	findings	finding	NOUN
fsr-3187	3	2	of	of	ADP
fsr-3187	3	3	this	this	DET
fsr-3187	3	4	study	study	NOUN
fsr-3187	3	5	show	show	VERB
fsr-3187	3	6	that	that	SCONJ
fsr-3187	3	7	,	,	PUNCT
fsr-3187	3	8	on	on	ADP
fsr-3187	3	9	average	average	ADJ
fsr-3187	3	10	,	,	PUNCT
fsr-3187	3	11	healthcare	healthcare	PROPN
fsr-3187	3	12	mutual	mutual	ADJ
fsr-3187	3	13	funds	fund	NOUN
fsr-3187	3	14	outperform	outperform	VERB
fsr-3187	3	15	the	the	DET
fsr-3187	3	16	passive	passive	ADJ
fsr-3187	3	17	index	index	NOUN
fsr-3187	3	18	by	by	ADP
fsr-3187	3	19	roughly	roughly	ADV
fsr-3187	3	20	2.97	2.97	NUM
fsr-3187	3	21	%	%	NOUN
fsr-3187	3	22	per	per	ADP
fsr-3187	3	23	year	year	NOUN
fsr-3187	3	24	after	after	ADP
fsr-3187	3	25	controlling	control	VERB
fsr-3187	3	26	for	for	ADP
fsr-3187	3	27	the	the	DET
fsr-3187	3	28	market	market	NOUN
fsr-3187	3	29	risk	risk	NOUN
fsr-3187	3	30	premium	premium	NOUN
fsr-3187	3	31	,	,	PUNCT
fsr-3187	3	32	growth	growth	NOUN
fsr-3187	3	33	and	and	CCONJ
fsr-3187	3	34	size	size	NOUN
fsr-3187	3	35	premiums	premium	NOUN
fsr-3187	3	36	,	,	PUNCT
fsr-3187	3	37	and	and	CCONJ
fsr-3187	3	38	momentum	momentum	NOUN
fsr-3187	3	39	effects	effect	NOUN
fsr-3187	3	40	.	.	PUNCT
fsr-3187	4	1	further	far	ADV
fsr-3187	4	2	,	,	PUNCT
fsr-3187	4	3	this	this	DET
fsr-3187	4	4	study	study	NOUN
fsr-3187	4	5	documents	document	NOUN
fsr-3187	4	6	that	that	PRON
fsr-3187	4	7	the	the	DET
fsr-3187	4	8	abnormal	abnormal	ADJ
fsr-3187	4	9	overand	overand	NOUN
fsr-3187	4	10	under	under	NOUN
fsr-3187	4	11	-	-	PUNCT
fsr-3187	4	12	performance	performance	NOUN
fsr-3187	4	13	does	do	AUX
fsr-3187	4	14	not	not	PART
fsr-3187	4	15	persist	persist	VERB
fsr-3187	4	16	over	over	ADP
fsr-3187	4	17	subsequent	subsequent	ADJ
fsr-3187	4	18	periods	period	NOUN
fsr-3187	4	19	.	.	PUNCT
fsr-3187	5	1	in	in	ADP
fsr-3187	5	2	other	other	ADJ
fsr-3187	5	3	words	word	NOUN
fsr-3187	5	4	,	,	PUNCT
fsr-3187	5	5	underand	underand	NOUN
fsr-3187	5	6	overperformances	overperformance	NOUN
fsr-3187	5	7	are	be	AUX
fsr-3187	5	8	mean	mean	ADV
fsr-3187	5	9	reverting	revert	VERB
fsr-3187	5	10	.	.	PUNCT
fsr-3187	6	1	©	©	PROPN
fsr-3187	6	2	2014	2014	NUM
fsr-3187	6	3	academy	academy	NOUN
fsr-3187	6	4	of	of	ADP
fsr-3187	6	5	financial	financial	ADJ
fsr-3187	6	6	services	service	NOUN
fsr-3187	6	7	.	.	PUNCT
fsr-3187	7	1	all	all	DET
fsr-3187	7	2	rights	right	NOUN
fsr-3187	7	3	reserved	reserve	VERB
fsr-3187	7	4	.	.	PUNCT
fsr-3187	8	1	jel	jel	PROPN
fsr-3187	8	2	classifications	classification	NOUN
fsr-3187	8	3	:	:	PUNCT
fsr-3187	8	4	g23	g23	NOUN
fsr-3187	8	5	;	;	PUNCT
fsr-3187	8	6	g11	g11	PROPN
fsr-3187	8	7	;	;	PUNCT
fsr-3187	8	8	g12	g12	PROPN
fsr-3187	8	9	keywords	keyword	NOUN
fsr-3187	8	10	:	:	PUNCT
fsr-3187	8	11	healthcare	healthcare	PROPN
fsr-3187	8	12	mutual	mutual	ADJ
fsr-3187	8	13	funds	fund	NOUN
fsr-3187	8	14	;	;	PUNCT
fsr-3187	8	15	performance	performance	NOUN
fsr-3187	8	16	;	;	PUNCT
fsr-3187	8	17	persistence	persistence	NOUN
fsr-3187	8	18	of	of	ADP
fsr-3187	8	19	performance	performance	NOUN
fsr-3187	8	20	1	1	NUM
fsr-3187	8	21	.	.	PUNCT
fsr-3187	8	22	introduction	introduction	NOUN
fsr-3187	8	23	performance	performance	NOUN
fsr-3187	8	24	evaluation	evaluation	NOUN
fsr-3187	8	25	of	of	ADP
fsr-3187	8	26	mutual	mutual	ADJ
fsr-3187	8	27	funds	fund	NOUN
fsr-3187	8	28	has	have	AUX
fsr-3187	8	29	generated	generate	VERB
fsr-3187	8	30	a	a	DET
fsr-3187	8	31	great	great	ADJ
fsr-3187	8	32	deal	deal	NOUN
fsr-3187	8	33	of	of	ADP
fsr-3187	8	34	interest	interest	NOUN
fsr-3187	8	35	among	among	ADP
fsr-3187	8	36	academic	academic	ADJ
fsr-3187	8	37	researchers	researcher	NOUN
fsr-3187	8	38	,	,	PUNCT
fsr-3187	8	39	practitioners	practitioner	NOUN
fsr-3187	8	40	,	,	PUNCT
fsr-3187	8	41	retail	retail	ADJ
fsr-3187	8	42	investors	investor	NOUN
fsr-3187	8	43	,	,	PUNCT
fsr-3187	8	44	and	and	CCONJ
fsr-3187	8	45	financial	financial	ADJ
fsr-3187	8	46	services	service	NOUN
fsr-3187	8	47	professionals	professional	NOUN
fsr-3187	8	48	.	.	PUNCT
fsr-3187	9	1	according	accord	VERB
fsr-3187	9	2	to	to	ADP
fsr-3187	9	3	the	the	DET
fsr-3187	9	4	investment	investment	NOUN
fsr-3187	9	5	company	company	NOUN
fsr-3187	9	6	institute	institute	PROPN
fsr-3187	9	7	(	(	PUNCT
fsr-3187	9	8	ici	ici	PROPN
fsr-3187	9	9	)	)	PUNCT
fsr-3187	9	10	factbook	factbook	NOUN
fsr-3187	9	11	2013	2013	NUM
fsr-3187	9	12	,	,	PUNCT
fsr-3187	9	13	!	!	PUNCT
fsr-3187	10	1	53.8	53.8	NUM
fsr-3187	10	2	million	million	NUM
fsr-3187	10	3	american	american	ADJ
fsr-3187	10	4	households	household	NOUN
fsr-3187	10	5	and	and	CCONJ
fsr-3187	10	6	roughly	roughly	ADV
fsr-3187	10	7	92.4	92.4	NUM
fsr-3187	10	8	million	million	NUM
fsr-3187	10	9	individuals	individual	NOUN
fsr-3187	10	10	in	in	ADP
fsr-3187	10	11	the	the	DET
fsr-3187	10	12	united	united	PROPN
fsr-3187	10	13	states	states	PROPN
fsr-3187	10	14	own	own	VERB
fsr-3187	10	15	mutual	mutual	ADJ
fsr-3187	10	16	funds	fund	NOUN
fsr-3187	10	17	.	.	PUNCT
fsr-3187	11	1	these	these	DET
fsr-3187	11	2	towering	tower	VERB
fsr-3187	11	3	figures	figure	NOUN
fsr-3187	11	4	demonstrate	demonstrate	VERB
fsr-3187	11	5	the	the	DET
fsr-3187	11	6	significance	significance	NOUN
fsr-3187	11	7	of	of	ADP
fsr-3187	11	8	mutual	mutual	ADJ
fsr-3187	11	9	funds	fund	NOUN
fsr-3187	11	10	in	in	ADP
fsr-3187	11	11	the	the	DET
fsr-3187	11	12	lives	life	NOUN
fsr-3187	11	13	of	of	ADP
fsr-3187	11	14	common	common	ADJ
fsr-3187	11	15	investors	investor	NOUN
fsr-3187	11	16	in	in	ADP
fsr-3187	11	17	the	the	DET
fsr-3187	11	18	united	united	PROPN
fsr-3187	11	19	states	states	PROPN
fsr-3187	11	20	.	.	PUNCT
fsr-3187	12	1	it	it	PRON
fsr-3187	12	2	is	be	AUX
fsr-3187	12	3	particularly	particularly	ADV
fsr-3187	12	4	interesting	interesting	ADJ
fsr-3187	12	5	to	to	PART
fsr-3187	12	6	evaluate	evaluate	VERB
fsr-3187	12	7	the	the	DET
fsr-3187	12	8	performance	performance	NOUN
fsr-3187	12	9	of	of	ADP
fsr-3187	12	10	actively	actively	ADV
fsr-3187	12	11	managed	manage	VERB
fsr-3187	12	12	mutual	mutual	ADJ
fsr-3187	12	13	funds	fund	NOUN
fsr-3187	12	14	to	to	PART
fsr-3187	12	15	determine	determine	VERB
fsr-3187	12	16	whether	whether	SCONJ
fsr-3187	12	17	the	the	DET
fsr-3187	12	18	value	value	NOUN
fsr-3187	12	19	of	of	ADP
fsr-3187	12	20	active	active	ADJ
fsr-3187	12	21	management	management	NOUN
fsr-3187	12	22	outweighs	outweigh	VERB
fsr-3187	12	23	the	the	DET
fsr-3187	12	24	cost	cost	NOUN
fsr-3187	12	25	of	of	ADP
fsr-3187	12	26	the	the	DET
fsr-3187	12	27	expert	expert	NOUN
fsr-3187	12	28	management	management	NOUN
fsr-3187	12	29	.	.	PUNCT
fsr-3187	13	1	general	general	ADJ
fsr-3187	13	2	findings	finding	NOUN
fsr-3187	13	3	on	on	ADP
fsr-3187	13	4	equity	equity	NOUN
fsr-3187	13	5	funds	fund	NOUN
fsr-3187	13	6	have	have	AUX
fsr-3187	13	7	shown	show	VERB
fsr-3187	13	8	that	that	SCONJ
fsr-3187	13	9	funds	fund	NOUN
fsr-3187	13	10	do	do	AUX
fsr-3187	13	11	outperform	outperform	VERB
fsr-3187	13	12	*	*	PUNCT
fsr-3187	13	13	corresponding	correspond	VERB
fsr-3187	13	14	author	author	NOUN
fsr-3187	13	15	.	.	PUNCT
fsr-3187	14	1	tel	tel	PROPN
fsr-3187	14	2	.	.	PUNCT
fsr-3187	14	3	:	:	PUNCT
fsr-3187	15	1	"	"	PUNCT
fsr-3187	15	2	-540	-540	VERB
fsr-3187	15	3	-	-	PUNCT
fsr-3187	15	4	831	831	NUM
fsr-3187	15	5	-	-	PUNCT
fsr-3187	15	6	6426	6426	NUM
fsr-3187	15	7	;	;	PUNCT
fsr-3187	15	8	fax	fax	NOUN
fsr-3187	15	9	:	:	PUNCT
fsr-3187	15	10	"	"	PUNCT
fsr-3187	15	11	1	1	NUM
fsr-3187	15	12	-	-	SYM
fsr-3187	15	13	540	540	NUM
fsr-3187	15	14	-	-	PUNCT
fsr-3187	15	15	831	831	NUM
fsr-3187	15	16	-	-	PUNCT
fsr-3187	15	17	6209	6209	NUM
fsr-3187	15	18	.	.	PUNCT
fsr-3187	16	1	e	e	X
fsr-3187	16	2	-	-	NOUN
fsr-3187	16	3	mail	mail	NOUN
fsr-3187	16	4	address	address	NOUN
fsr-3187	16	5	:	:	PUNCT
fsr-3187	16	6	akaushik@radford.edu	akaushik@radford.edu	X
fsr-3187	16	7	(	(	PUNCT
fsr-3187	16	8	a.	a.	NOUN
fsr-3187	16	9	kaushik	kaushik	PROPN
fsr-3187	16	10	)	)	PUNCT
fsr-3187	16	11	financial	financial	ADJ
fsr-3187	16	12	services	service	NOUN
fsr-3187	16	13	review	review	VERB
fsr-3187	16	14	23	23	NUM
fsr-3187	16	15	(	(	PUNCT
fsr-3187	16	16	2014	2014	NUM
fsr-3187	16	17	)	)	PUNCT
fsr-3187	16	18	77–91	77–91	NUM
fsr-3187	16	19	1057	1057	NUM
fsr-3187	16	20	-	-	SYM
fsr-3187	16	21	0810/14/$	0810/14/$	NUM
fsr-3187	16	22	–	–	PUNCT
fsr-3187	16	23	see	see	VERB
fsr-3187	16	24	front	front	ADJ
fsr-3187	16	25	matter	matter	NOUN
fsr-3187	16	26	©	©	PROPN
fsr-3187	16	27	2014	2014	NUM
fsr-3187	16	28	academy	academy	NOUN
fsr-3187	16	29	of	of	ADP
fsr-3187	16	30	financial	financial	ADJ
fsr-3187	16	31	services	service	NOUN
fsr-3187	16	32	.	.	PUNCT
fsr-3187	17	1	all	all	DET
fsr-3187	17	2	rights	right	NOUN
fsr-3187	17	3	reserved	reserve	VERB
fsr-3187	17	4	.	.	PUNCT
fsr-3187	18	1	corresponding	correspond	VERB
fsr-3187	18	2	benchmarks	benchmark	NOUN
fsr-3187	18	3	on	on	ADP
fsr-3187	18	4	a	a	DET
fsr-3187	18	5	gross	gross	ADJ
fsr-3187	18	6	return1	return1	NOUN
fsr-3187	18	7	basis	basis	NOUN
fsr-3187	18	8	,	,	PUNCT
fsr-3187	18	9	but	but	CCONJ
fsr-3187	18	10	there	there	PRON
fsr-3187	18	11	seems	seem	VERB
fsr-3187	18	12	to	to	PART
fsr-3187	18	13	be	be	AUX
fsr-3187	18	14	a	a	DET
fsr-3187	18	15	consensus	consensus	NOUN
fsr-3187	18	16	that	that	PRON
fsr-3187	18	17	actively	actively	ADV
fsr-3187	18	18	managed	manage	VERB
fsr-3187	18	19	funds	fund	NOUN
fsr-3187	18	20	,	,	PUNCT
fsr-3187	18	21	in	in	ADP
fsr-3187	18	22	general	general	ADJ
fsr-3187	18	23	,	,	PUNCT
fsr-3187	18	24	perform	perform	VERB
fsr-3187	18	25	poorly	poorly	ADV
fsr-3187	18	26	compared	compare	VERB
fsr-3187	18	27	to	to	ADP
fsr-3187	18	28	comparative	comparative	ADJ
fsr-3187	18	29	benchmarks	benchmark	NOUN
fsr-3187	18	30	after	after	ADP
fsr-3187	18	31	considering	consider	VERB
fsr-3187	18	32	expenses.2	expenses.2	PROPN
fsr-3187	18	33	although	although	SCONJ
fsr-3187	18	34	performance	performance	NOUN
fsr-3187	18	35	evaluation	evaluation	NOUN
fsr-3187	18	36	of	of	ADP
fsr-3187	18	37	active	active	ADJ
fsr-3187	18	38	funds	fund	NOUN
fsr-3187	18	39	has	have	AUX
fsr-3187	18	40	been	be	AUX
fsr-3187	18	41	a	a	DET
fsr-3187	18	42	center	center	ADJ
fsr-3187	18	43	piece	piece	NOUN
fsr-3187	18	44	of	of	ADP
fsr-3187	18	45	attraction	attraction	NOUN
fsr-3187	18	46	for	for	ADP
fsr-3187	18	47	retail	retail	ADJ
fsr-3187	18	48	investors	investor	NOUN
fsr-3187	18	49	,	,	PUNCT
fsr-3187	18	50	practitioners	practitioner	NOUN
fsr-3187	18	51	,	,	PUNCT
fsr-3187	18	52	and	and	CCONJ
fsr-3187	18	53	academics	academic	NOUN
fsr-3187	18	54	,	,	PUNCT
fsr-3187	18	55	persistence	persistence	NOUN
fsr-3187	18	56	of	of	ADP
fsr-3187	18	57	performance	performance	NOUN
fsr-3187	18	58	has	have	AUX
fsr-3187	18	59	garnered	garner	VERB
fsr-3187	18	60	momentum	momentum	NOUN
fsr-3187	18	61	over	over	ADP
fsr-3187	18	62	the	the	DET
fsr-3187	18	63	last	last	ADJ
fsr-3187	18	64	decade	decade	NOUN
fsr-3187	18	65	.	.	PUNCT
fsr-3187	19	1	more	more	ADV
fsr-3187	19	2	specifically	specifically	ADV
fsr-3187	19	3	,	,	PUNCT
fsr-3187	19	4	both	both	PRON
fsr-3187	19	5	investors	investor	NOUN
fsr-3187	19	6	and	and	CCONJ
fsr-3187	19	7	practitioners	practitioner	NOUN
fsr-3187	19	8	are	be	AUX
fsr-3187	19	9	interested	interested	ADJ
fsr-3187	19	10	to	to	PART
fsr-3187	19	11	know	know	VERB
fsr-3187	19	12	whether	whether	SCONJ
fsr-3187	19	13	funds	fund	NOUN
fsr-3187	19	14	are	be	AUX
fsr-3187	19	15	able	able	ADJ
fsr-3187	19	16	to	to	PART
fsr-3187	19	17	repeat	repeat	VERB
fsr-3187	19	18	their	their	PRON
fsr-3187	19	19	performance	performance	NOUN
fsr-3187	19	20	or	or	CCONJ
fsr-3187	19	21	whether	whether	SCONJ
fsr-3187	19	22	performance	performance	NOUN
fsr-3187	19	23	is	be	AUX
fsr-3187	19	24	a	a	DET
fsr-3187	19	25	random	random	ADJ
fsr-3187	19	26	outcome	outcome	NOUN
fsr-3187	19	27	and	and	CCONJ
fsr-3187	19	28	eventually	eventually	ADV
fsr-3187	19	29	abnormal	abnormal	ADJ
fsr-3187	19	30	performance	performance	NOUN
fsr-3187	19	31	(	(	PUNCT
fsr-3187	19	32	positive	positive	ADJ
fsr-3187	19	33	or	or	CCONJ
fsr-3187	19	34	negative	negative	ADJ
fsr-3187	19	35	)	)	PUNCT
fsr-3187	19	36	follows	follow	VERB
fsr-3187	19	37	the	the	DET
fsr-3187	19	38	mean	mean	ADJ
fsr-3187	19	39	reversion	reversion	NOUN
fsr-3187	19	40	theory	theory	NOUN
fsr-3187	19	41	.	.	PUNCT
fsr-3187	20	1	in	in	ADP
fsr-3187	20	2	other	other	ADJ
fsr-3187	20	3	words	word	NOUN
fsr-3187	20	4	,	,	PUNCT
fsr-3187	20	5	market	market	NOUN
fsr-3187	20	6	efficiency	efficiency	NOUN
fsr-3187	20	7	holds	hold	VERB
fsr-3187	20	8	and	and	CCONJ
fsr-3187	20	9	any	any	PRON
fsr-3187	20	10	over	over	ADP
fsr-3187	20	11	or	or	CCONJ
fsr-3187	20	12	under	under	ADP
fsr-3187	20	13	performance	performance	NOUN
fsr-3187	20	14	is	be	AUX
fsr-3187	20	15	mere	mere	ADJ
fsr-3187	20	16	“	"	PUNCT
fsr-3187	20	17	luck	luck	NOUN
fsr-3187	20	18	.	.	PUNCT
fsr-3187	20	19	”	"	PUNCT
fsr-3187	21	1	though	though	SCONJ
fsr-3187	21	2	a	a	DET
fsr-3187	21	3	number	number	NOUN
fsr-3187	21	4	of	of	ADP
fsr-3187	21	5	studies	study	NOUN
fsr-3187	21	6	are	be	AUX
fsr-3187	21	7	available	available	ADJ
fsr-3187	21	8	to	to	PART
fsr-3187	21	9	explain	explain	VERB
fsr-3187	21	10	the	the	DET
fsr-3187	21	11	abnormal	abnormal	ADJ
fsr-3187	21	12	performance	performance	NOUN
fsr-3187	21	13	and	and	CCONJ
fsr-3187	21	14	persistence	persistence	NOUN
fsr-3187	21	15	of	of	ADP
fsr-3187	21	16	performance	performance	NOUN
fsr-3187	21	17	for	for	ADP
fsr-3187	21	18	well	well	ADV
fsr-3187	21	19	-	-	PUNCT
fsr-3187	21	20	diversified	diversify	VERB
fsr-3187	21	21	funds	fund	NOUN
fsr-3187	21	22	,	,	PUNCT
fsr-3187	21	23	only	only	ADV
fsr-3187	21	24	a	a	DET
fsr-3187	21	25	handful	handful	ADJ
fsr-3187	21	26	studies	study	NOUN
fsr-3187	21	27	exist	exist	VERB
fsr-3187	21	28	to	to	PART
fsr-3187	21	29	evaluate	evaluate	VERB
fsr-3187	21	30	the	the	DET
fsr-3187	21	31	same	same	ADJ
fsr-3187	21	32	phenomenon	phenomenon	NOUN
fsr-3187	21	33	for	for	ADP
fsr-3187	21	34	sector	sector	NOUN
fsr-3187	21	35	-	-	PUNCT
fsr-3187	21	36	specific	specific	ADJ
fsr-3187	21	37	funds	fund	NOUN
fsr-3187	21	38	.	.	PUNCT
fsr-3187	22	1	this	this	DET
fsr-3187	22	2	research	research	NOUN
fsr-3187	22	3	extends	extend	VERB
fsr-3187	22	4	the	the	DET
fsr-3187	22	5	existing	exist	VERB
fsr-3187	22	6	literature	literature	NOUN
fsr-3187	22	7	and	and	CCONJ
fsr-3187	22	8	analyzes	analyze	VERB
fsr-3187	22	9	115	115	NUM
fsr-3187	22	10	actively	actively	ADV
fsr-3187	22	11	managed	manage	VERB
fsr-3187	22	12	domestic	domestic	ADJ
fsr-3187	22	13	equity	equity	NOUN
fsr-3187	22	14	healthcare	healthcare	PROPN
fsr-3187	22	15	mutual	mutual	ADJ
fsr-3187	22	16	funds	fund	NOUN
fsr-3187	22	17	that	that	PRON
fsr-3187	22	18	existed	exist	VERB
fsr-3187	22	19	at	at	ADP
fsr-3187	22	20	some	some	DET
fsr-3187	22	21	point	point	NOUN
fsr-3187	22	22	in	in	ADP
fsr-3187	22	23	time	time	NOUN
fsr-3187	22	24	over	over	ADP
fsr-3187	22	25	the	the	DET
fsr-3187	22	26	period	period	NOUN
fsr-3187	22	27	2000–2011	2000–2011	NUM
fsr-3187	22	28	.	.	PUNCT
fsr-3187	23	1	healthcare	healthcare	PROPN
fsr-3187	23	2	mutual	mutual	ADJ
fsr-3187	23	3	funds	fund	NOUN
fsr-3187	23	4	have	have	AUX
fsr-3187	23	5	experienced	experience	VERB
fsr-3187	23	6	an	an	DET
fsr-3187	23	7	astounding	astounding	ADJ
fsr-3187	23	8	growth	growth	NOUN
fsr-3187	23	9	over	over	ADP
fsr-3187	23	10	the	the	DET
fsr-3187	23	11	last	last	ADJ
fsr-3187	23	12	10	10	NUM
fsr-3187	23	13	years	year	NOUN
fsr-3187	23	14	.	.	PUNCT
fsr-3187	24	1	for	for	ADP
fsr-3187	24	2	example	example	NOUN
fsr-3187	24	3	,	,	PUNCT
fsr-3187	24	4	only	only	ADV
fsr-3187	24	5	38	38	NUM
fsr-3187	24	6	actively	actively	ADV
fsr-3187	24	7	managed	manage	VERB
fsr-3187	24	8	healthcare	healthcare	PROPN
fsr-3187	24	9	mutual	mutual	ADJ
fsr-3187	24	10	funds	fund	NOUN
fsr-3187	24	11	existed	exist	VERB
fsr-3187	24	12	in	in	ADP
fsr-3187	24	13	the	the	DET
fsr-3187	24	14	year	year	NOUN
fsr-3187	24	15	2000	2000	NUM
fsr-3187	24	16	and	and	CCONJ
fsr-3187	24	17	that	that	DET
fsr-3187	24	18	number	number	NOUN
fsr-3187	24	19	increased	increase	VERB
fsr-3187	24	20	to	to	ADP
fsr-3187	24	21	56	56	NUM
fsr-3187	24	22	by	by	ADP
fsr-3187	24	23	the	the	DET
fsr-3187	24	24	end	end	NOUN
fsr-3187	24	25	of	of	ADP
fsr-3187	24	26	2011	2011	NUM
fsr-3187	24	27	,	,	PUNCT
fsr-3187	24	28	a	a	DET
fsr-3187	24	29	combined	combined	ADJ
fsr-3187	24	30	growth	growth	NOUN
fsr-3187	24	31	of	of	ADP
fsr-3187	24	32	47	47	NUM
fsr-3187	24	33	%	%	NOUN
fsr-3187	24	34	over	over	ADP
fsr-3187	24	35	the	the	DET
fsr-3187	24	36	last	last	ADJ
fsr-3187	24	37	12	12	NUM
fsr-3187	24	38	years.3	years.3	NOUN
fsr-3187	24	39	though	though	SCONJ
fsr-3187	24	40	the	the	DET
fsr-3187	24	41	number	number	NOUN
fsr-3187	24	42	of	of	ADP
fsr-3187	24	43	funds	fund	NOUN
fsr-3187	24	44	varies	vary	VERB
fsr-3187	24	45	from	from	ADP
fsr-3187	24	46	year	year	NOUN
fsr-3187	24	47	to	to	ADP
fsr-3187	24	48	year	year	NOUN
fsr-3187	24	49	,	,	PUNCT
fsr-3187	24	50	overall	overall	ADJ
fsr-3187	24	51	this	this	DET
fsr-3187	24	52	study	study	NOUN
fsr-3187	24	53	includes	include	VERB
fsr-3187	24	54	115	115	NUM
fsr-3187	24	55	healthcare	healthcare	NOUN
fsr-3187	24	56	funds	fund	NOUN
fsr-3187	24	57	that	that	PRON
fsr-3187	24	58	existed	exist	VERB
fsr-3187	24	59	at	at	ADP
fsr-3187	24	60	some	some	DET
fsr-3187	24	61	point	point	NOUN
fsr-3187	24	62	in	in	ADP
fsr-3187	24	63	time	time	NOUN
fsr-3187	24	64	over	over	ADP
fsr-3187	24	65	the	the	DET
fsr-3187	24	66	entire	entire	ADJ
fsr-3187	24	67	period	period	NOUN
fsr-3187	24	68	of	of	ADP
fsr-3187	24	69	january	january	PROPN
fsr-3187	24	70	1	1	NUM
fsr-3187	24	71	,	,	PUNCT
fsr-3187	24	72	2000	2000	NUM
fsr-3187	24	73	to	to	ADP
fsr-3187	24	74	december	december	PROPN
fsr-3187	24	75	31	31	NUM
fsr-3187	24	76	,	,	PUNCT
fsr-3187	24	77	2011	2011	NUM
fsr-3187	24	78	.	.	PUNCT
fsr-3187	25	1	on	on	ADP
fsr-3187	25	2	the	the	DET
fsr-3187	25	3	contrary	contrary	NOUN
fsr-3187	25	4	,	,	PUNCT
fsr-3187	25	5	the	the	DET
fsr-3187	25	6	growth	growth	NOUN
fsr-3187	25	7	rate	rate	NOUN
fsr-3187	25	8	was	be	AUX
fsr-3187	25	9	a	a	DET
fsr-3187	25	10	paltry	paltry	NOUN
fsr-3187	25	11	2.09	2.09	NUM
fsr-3187	25	12	%	%	NOUN
fsr-3187	25	13	for	for	ADP
fsr-3187	25	14	the	the	DET
fsr-3187	25	15	combined	combine	VERB
fsr-3187	25	16	mutual	mutual	ADJ
fsr-3187	25	17	fund	fund	NOUN
fsr-3187	25	18	industry	industry	NOUN
fsr-3187	25	19	over	over	ADP
fsr-3187	25	20	the	the	DET
fsr-3187	25	21	same	same	ADJ
fsr-3187	25	22	period.4	period.4	NOUN
fsr-3187	25	23	the	the	DET
fsr-3187	25	24	extraordinary	extraordinary	ADJ
fsr-3187	25	25	growth	growth	NOUN
fsr-3187	25	26	in	in	ADP
fsr-3187	25	27	healthcare	healthcare	PROPN
fsr-3187	25	28	funds	fund	NOUN
fsr-3187	25	29	warrants	warrant	VERB
fsr-3187	25	30	a	a	DET
fsr-3187	25	31	thorough	thorough	ADJ
fsr-3187	25	32	investigation	investigation	NOUN
fsr-3187	25	33	behind	behind	ADP
fsr-3187	25	34	the	the	DET
fsr-3187	25	35	popularity	popularity	NOUN
fsr-3187	25	36	of	of	ADP
fsr-3187	25	37	these	these	DET
fsr-3187	25	38	types	type	NOUN
fsr-3187	25	39	of	of	ADP
fsr-3187	25	40	funds	fund	NOUN
fsr-3187	25	41	.	.	PUNCT
fsr-3187	26	1	the	the	DET
fsr-3187	26	2	main	main	ADJ
fsr-3187	26	3	objectives	objective	NOUN
fsr-3187	26	4	of	of	ADP
fsr-3187	26	5	this	this	DET
fsr-3187	26	6	research	research	NOUN
fsr-3187	26	7	are	be	AUX
fsr-3187	26	8	to	to	PART
fsr-3187	26	9	assess	assess	VERB
fsr-3187	26	10	(	(	PUNCT
fsr-3187	26	11	1	1	X
fsr-3187	26	12	)	)	PUNCT
fsr-3187	26	13	the	the	DET
fsr-3187	26	14	abnormal	abnormal	ADJ
fsr-3187	26	15	performance	performance	NOUN
fsr-3187	26	16	of	of	ADP
fsr-3187	26	17	actively	actively	ADV
fsr-3187	26	18	managed	manage	VERB
fsr-3187	26	19	mutual	mutual	ADJ
fsr-3187	26	20	funds	fund	NOUN
fsr-3187	26	21	that	that	PRON
fsr-3187	26	22	mainly	mainly	ADV
fsr-3187	26	23	invest	invest	VERB
fsr-3187	26	24	in	in	ADP
fsr-3187	26	25	health	health	NOUN
fsr-3187	26	26	-	-	PUNCT
fsr-3187	26	27	care	care	NOUN
fsr-3187	26	28	stocks	stock	NOUN
fsr-3187	26	29	,	,	PUNCT
fsr-3187	26	30	(	(	PUNCT
fsr-3187	26	31	2	2	X
fsr-3187	26	32	)	)	PUNCT
fsr-3187	26	33	the	the	DET
fsr-3187	26	34	persistence	persistence	NOUN
fsr-3187	26	35	of	of	ADP
fsr-3187	26	36	performance	performance	NOUN
fsr-3187	26	37	of	of	ADP
fsr-3187	26	38	these	these	DET
fsr-3187	26	39	funds	fund	NOUN
fsr-3187	26	40	,	,	PUNCT
fsr-3187	26	41	that	that	ADV
fsr-3187	26	42	is	is	ADV
fsr-3187	26	43	,	,	PUNCT
fsr-3187	26	44	whether	whether	SCONJ
fsr-3187	26	45	funds	fund	NOUN
fsr-3187	26	46	are	be	AUX
fsr-3187	26	47	able	able	ADJ
fsr-3187	26	48	to	to	PART
fsr-3187	26	49	repeat	repeat	VERB
fsr-3187	26	50	their	their	PRON
fsr-3187	26	51	abnormal	abnormal	ADJ
fsr-3187	26	52	performance	performance	NOUN
fsr-3187	26	53	or	or	CCONJ
fsr-3187	26	54	not	not	PART
fsr-3187	26	55	,	,	PUNCT
fsr-3187	26	56	and	and	CCONJ
fsr-3187	26	57	(	(	PUNCT
fsr-3187	26	58	3	3	X
fsr-3187	26	59	)	)	PUNCT
fsr-3187	26	60	which	which	PRON
fsr-3187	26	61	cross	cross	ADJ
fsr-3187	26	62	-	-	ADJ
fsr-3187	26	63	sectional	sectional	ADJ
fsr-3187	26	64	attributes	attribute	NOUN
fsr-3187	26	65	may	may	AUX
fsr-3187	26	66	explain	explain	VERB
fsr-3187	26	67	the	the	DET
fsr-3187	26	68	abnormal	abnormal	ADJ
fsr-3187	26	69	performance	performance	NOUN
fsr-3187	26	70	.	.	PUNCT
fsr-3187	27	1	the	the	DET
fsr-3187	27	2	article	article	NOUN
fsr-3187	27	3	is	be	AUX
fsr-3187	27	4	timely	timely	ADJ
fsr-3187	27	5	and	and	CCONJ
fsr-3187	27	6	offers	offer	VERB
fsr-3187	27	7	a	a	DET
fsr-3187	27	8	good	good	ADJ
fsr-3187	27	9	insight	insight	NOUN
fsr-3187	27	10	into	into	ADP
fsr-3187	27	11	a	a	DET
fsr-3187	27	12	very	very	ADV
fsr-3187	27	13	important	important	ADJ
fsr-3187	27	14	sector	sector	NOUN
fsr-3187	27	15	of	of	ADP
fsr-3187	27	16	the	the	DET
fsr-3187	27	17	u.s	u.s	PROPN
fsr-3187	27	18	.	.	PROPN
fsr-3187	27	19	economy	economy	NOUN
fsr-3187	27	20	.	.	PUNCT
fsr-3187	28	1	for	for	ADP
fsr-3187	28	2	example	example	NOUN
fsr-3187	28	3	,	,	PUNCT
fsr-3187	28	4	the	the	DET
fsr-3187	28	5	u.s	u.s	PROPN
fsr-3187	28	6	.	.	PROPN
fsr-3187	28	7	economy	economy	NOUN
fsr-3187	28	8	has	have	AUX
fsr-3187	28	9	been	be	AUX
fsr-3187	28	10	in	in	ADP
fsr-3187	28	11	slowdown	slowdown	NOUN
fsr-3187	28	12	mode	mode	NOUN
fsr-3187	28	13	since	since	SCONJ
fsr-3187	28	14	the	the	DET
fsr-3187	28	15	early	early	ADJ
fsr-3187	28	16	2000s	2000s	NUM
fsr-3187	28	17	and	and	CCONJ
fsr-3187	28	18	some	some	DET
fsr-3187	28	19	analysts	analyst	NOUN
fsr-3187	28	20	argue	argue	VERB
fsr-3187	28	21	that	that	SCONJ
fsr-3187	28	22	defensive	defensive	ADJ
fsr-3187	28	23	stocks	stock	NOUN
fsr-3187	28	24	,	,	PUNCT
fsr-3187	28	25	like	like	ADP
fsr-3187	28	26	healthcare	healthcare	NOUN
fsr-3187	28	27	,	,	PUNCT
fsr-3187	28	28	should	should	AUX
fsr-3187	28	29	perform	perform	VERB
fsr-3187	28	30	better	well	ADV
fsr-3187	28	31	in	in	ADP
fsr-3187	28	32	these	these	DET
fsr-3187	28	33	conditions	condition	NOUN
fsr-3187	28	34	.	.	PUNCT
fsr-3187	29	1	portfolio	portfolio	NOUN
fsr-3187	29	2	managers	manager	NOUN
fsr-3187	29	3	like	like	VERB
fsr-3187	29	4	to	to	PART
fsr-3187	29	5	invest	invest	VERB
fsr-3187	29	6	in	in	ADP
fsr-3187	29	7	health	health	NOUN
fsr-3187	29	8	care	care	NOUN
fsr-3187	29	9	stocks	stock	NOUN
fsr-3187	29	10	because	because	SCONJ
fsr-3187	29	11	they	they	PRON
fsr-3187	29	12	believe	believe	VERB
fsr-3187	29	13	this	this	DET
fsr-3187	29	14	industry	industry	NOUN
fsr-3187	29	15	not	not	PART
fsr-3187	29	16	only	only	ADV
fsr-3187	29	17	weathers	weather	VERB
fsr-3187	29	18	business	business	NOUN
fsr-3187	29	19	cycles	cycle	NOUN
fsr-3187	29	20	but	but	CCONJ
fsr-3187	29	21	also	also	ADV
fsr-3187	29	22	includes	include	VERB
fsr-3187	29	23	stocks	stock	NOUN
fsr-3187	29	24	that	that	PRON
fsr-3187	29	25	create	create	VERB
fsr-3187	29	26	secular	secular	ADJ
fsr-3187	29	27	demand.5	demand.5	NOUN
fsr-3187	29	28	according	accord	VERB
fsr-3187	29	29	to	to	ADP
fsr-3187	29	30	zacks	zacks	PROPN
fsr-3187	29	31	investment	investment	NOUN
fsr-3187	29	32	research	research	NOUN
fsr-3187	29	33	“	"	PUNCT
fsr-3187	29	34	the	the	DET
fsr-3187	29	35	health	health	NOUN
fsr-3187	29	36	care	care	NOUN
fsr-3187	29	37	is	be	AUX
fsr-3187	29	38	one	one	NUM
fsr-3187	29	39	of	of	ADP
fsr-3187	29	40	the	the	DET
fsr-3187	29	41	most	most	ADV
fsr-3187	29	42	desirable	desirable	ADJ
fsr-3187	29	43	avenues	avenue	NOUN
fsr-3187	29	44	for	for	ADP
fsr-3187	29	45	parking	parking	NOUN
fsr-3187	29	46	investments	investment	NOUN
fsr-3187	29	47	when	when	SCONJ
fsr-3187	29	48	markets	market	NOUN
fsr-3187	29	49	are	be	AUX
fsr-3187	29	50	headed	head	VERB
fsr-3187	29	51	south	south	ADV
fsr-3187	29	52	.	.	PUNCT
fsr-3187	30	1	the	the	DET
fsr-3187	30	2	demand	demand	NOUN
fsr-3187	30	3	for	for	ADP
fsr-3187	30	4	such	such	ADJ
fsr-3187	30	5	services	service	NOUN
fsr-3187	30	6	usually	usually	ADV
fsr-3187	30	7	remains	remain	VERB
fsr-3187	30	8	unchanged	unchanged	ADJ
fsr-3187	30	9	even	even	ADV
fsr-3187	30	10	during	during	ADP
fsr-3187	30	11	an	an	DET
fsr-3187	30	12	economic	economic	ADJ
fsr-3187	30	13	downturn	downturn	NOUN
fsr-3187	30	14	and	and	CCONJ
fsr-3187	30	15	investments	investment	NOUN
fsr-3187	30	16	in	in	ADP
fsr-3187	30	17	the	the	DET
fsr-3187	30	18	sector	sector	NOUN
fsr-3187	30	19	provide	provide	VERB
fsr-3187	30	20	sufficient	sufficient	ADJ
fsr-3187	30	21	protection	protection	NOUN
fsr-3187	30	22	to	to	ADP
fsr-3187	30	23	the	the	DET
fsr-3187	30	24	capital	capital	NOUN
fsr-3187	30	25	invested	invest	VERB
fsr-3187	30	26	.	.	PUNCT
fsr-3187	30	27	”	"	PUNCT
fsr-3187	31	1	on	on	ADP
fsr-3187	31	2	the	the	DET
fsr-3187	31	3	other	other	ADJ
fsr-3187	31	4	hand	hand	NOUN
fsr-3187	31	5	,	,	PUNCT
fsr-3187	31	6	this	this	DET
fsr-3187	31	7	sector	sector	NOUN
fsr-3187	31	8	has	have	AUX
fsr-3187	31	9	been	be	AUX
fsr-3187	31	10	on	on	ADP
fsr-3187	31	11	the	the	DET
fsr-3187	31	12	“	"	PUNCT
fsr-3187	31	13	hot	hot	ADJ
fsr-3187	31	14	-	-	PUNCT
fsr-3187	31	15	seat	seat	NOUN
fsr-3187	31	16	”	"	PUNCT
fsr-3187	31	17	politically	politically	ADV
fsr-3187	31	18	.	.	PUNCT
fsr-3187	32	1	although	although	SCONJ
fsr-3187	32	2	lawmakers	lawmaker	NOUN
fsr-3187	32	3	are	be	AUX
fsr-3187	32	4	homogenous	homogenous	ADJ
fsr-3187	32	5	in	in	ADP
fsr-3187	32	6	terms	term	NOUN
fsr-3187	32	7	of	of	ADP
fsr-3187	32	8	their	their	PRON
fsr-3187	32	9	support	support	NOUN
fsr-3187	32	10	to	to	PART
fsr-3187	32	11	change	change	VERB
fsr-3187	32	12	the	the	DET
fsr-3187	32	13	healthcare	healthcare	NOUN
fsr-3187	32	14	system	system	NOUN
fsr-3187	32	15	in	in	ADP
fsr-3187	32	16	the	the	DET
fsr-3187	32	17	country	country	NOUN
fsr-3187	32	18	,	,	PUNCT
fsr-3187	32	19	they	they	PRON
fsr-3187	32	20	differ	differ	VERB
fsr-3187	32	21	significantly	significantly	ADV
fsr-3187	32	22	in	in	ADP
fsr-3187	32	23	their	their	PRON
fsr-3187	32	24	approach	approach	NOUN
fsr-3187	32	25	to	to	PART
fsr-3187	32	26	modify	modify	VERB
fsr-3187	32	27	the	the	DET
fsr-3187	32	28	healthcare	healthcare	NOUN
fsr-3187	32	29	system	system	NOUN
fsr-3187	32	30	.	.	PUNCT
fsr-3187	33	1	another	another	DET
fsr-3187	33	2	important	important	ADJ
fsr-3187	33	3	aspect	aspect	NOUN
fsr-3187	33	4	of	of	ADP
fsr-3187	33	5	healthcare	healthcare	NOUN
fsr-3187	33	6	stocks	stock	NOUN
fsr-3187	33	7	is	be	AUX
fsr-3187	33	8	the	the	DET
fsr-3187	33	9	cost	cost	NOUN
fsr-3187	33	10	of	of	ADP
fsr-3187	33	11	developing	develop	VERB
fsr-3187	33	12	new	new	ADJ
fsr-3187	33	13	drugs	drug	NOUN
fsr-3187	33	14	and	and	CCONJ
fsr-3187	33	15	loss	loss	NOUN
fsr-3187	33	16	of	of	ADP
fsr-3187	33	17	revenue	revenue	NOUN
fsr-3187	33	18	after	after	ADP
fsr-3187	33	19	the	the	DET
fsr-3187	33	20	expiration	expiration	NOUN
fsr-3187	33	21	of	of	ADP
fsr-3187	33	22	patents	patent	NOUN
fsr-3187	33	23	.	.	PUNCT
fsr-3187	34	1	according	accord	VERB
fsr-3187	34	2	to	to	ADP
fsr-3187	34	3	an	an	DET
fsr-3187	34	4	article	article	NOUN
fsr-3187	34	5	published	publish	VERB
fsr-3187	34	6	in	in	ADP
fsr-3187	34	7	the	the	DET
fsr-3187	34	8	forbes	forbes	PROPN
fsr-3187	34	9	magazine	magazine	NOUN
fsr-3187	34	10	“	"	PUNCT
fsr-3187	34	11	the	the	DET
fsr-3187	34	12	average	average	ADJ
fsr-3187	34	13	cost	cost	NOUN
fsr-3187	34	14	of	of	ADP
fsr-3187	34	15	bringing	bring	VERB
fsr-3187	34	16	a	a	DET
fsr-3187	34	17	new	new	ADJ
fsr-3187	34	18	drug	drug	NOUN
fsr-3187	34	19	to	to	ADP
fsr-3187	34	20	market	market	NOUN
fsr-3187	34	21	is	be	AUX
fsr-3187	34	22	$	$	SYM
fsr-3187	34	23	1.3	1.3	NUM
fsr-3187	34	24	billion	billion	NUM
fsr-3187	34	25	whereas	whereas	SCONJ
fsr-3187	34	26	the	the	DET
fsr-3187	34	27	average	average	ADJ
fsr-3187	34	28	drug	drug	NOUN
fsr-3187	34	29	developed	develop	VERB
fsr-3187	34	30	by	by	ADP
fsr-3187	34	31	a	a	DET
fsr-3187	34	32	major	major	ADJ
fsr-3187	34	33	pharmaceutical	pharmaceutical	ADJ
fsr-3187	34	34	company	company	NOUN
fsr-3187	34	35	costs	cost	VERB
fsr-3187	34	36	at	at	ADV
fsr-3187	34	37	least	least	ADV
fsr-3187	34	38	$	$	SYM
fsr-3187	34	39	4	4	NUM
fsr-3187	34	40	billion	billion	NUM
fsr-3187	34	41	,	,	PUNCT
fsr-3187	34	42	and	and	CCONJ
fsr-3187	34	43	it	it	PRON
fsr-3187	34	44	can	can	AUX
fsr-3187	34	45	be	be	AUX
fsr-3187	34	46	as	as	ADV
fsr-3187	34	47	much	much	ADJ
fsr-3187	34	48	as	as	ADP
fsr-3187	34	49	$	$	SYM
fsr-3187	34	50	11	11	NUM
fsr-3187	34	51	billion	billion	NUM
fsr-3187	34	52	.	.	PUNCT
fsr-3187	34	53	”6	”6	NOUN
fsr-3187	34	54	pharmaceutical	pharmaceutical	NOUN
fsr-3187	34	55	firms	firm	NOUN
fsr-3187	34	56	invest	invest	VERB
fsr-3187	34	57	billions	billion	NOUN
fsr-3187	34	58	of	of	ADP
fsr-3187	34	59	dollars	dollar	NOUN
fsr-3187	34	60	to	to	PART
fsr-3187	34	61	invent	invent	VERB
fsr-3187	34	62	new	new	ADJ
fsr-3187	34	63	drugs	drug	NOUN
fsr-3187	34	64	,	,	PUNCT
fsr-3187	34	65	but	but	CCONJ
fsr-3187	34	66	they	they	PRON
fsr-3187	34	67	lose	lose	VERB
fsr-3187	34	68	a	a	DET
fsr-3187	34	69	large	large	ADJ
fsr-3187	34	70	portion	portion	NOUN
fsr-3187	34	71	of	of	ADP
fsr-3187	34	72	their	their	PRON
fsr-3187	34	73	profits	profit	NOUN
fsr-3187	34	74	at	at	ADP
fsr-3187	34	75	the	the	DET
fsr-3187	34	76	time	time	NOUN
fsr-3187	34	77	of	of	ADP
fsr-3187	34	78	expiration	expiration	NOUN
fsr-3187	34	79	of	of	ADP
fsr-3187	34	80	their	their	PRON
fsr-3187	34	81	patents	patent	NOUN
fsr-3187	34	82	.	.	PUNCT
fsr-3187	35	1	for	for	ADP
fsr-3187	35	2	example	example	NOUN
fsr-3187	35	3	,	,	PUNCT
fsr-3187	35	4	the	the	DET
fsr-3187	35	5	new	new	PROPN
fsr-3187	35	6	york	york	PROPN
fsr-3187	35	7	times	times	PROPN
fsr-3187	35	8	article	article	NOUN
fsr-3187	35	9	dated	date	VERB
fsr-3187	35	10	march	march	PROPN
fsr-3187	35	11	6	6	NUM
fsr-3187	35	12	,	,	PUNCT
fsr-3187	35	13	2011	2011	NUM
fsr-3187	35	14	reported	report	VERB
fsr-3187	35	15	an	an	DET
fsr-3187	35	16	estimated	estimate	VERB
fsr-3187	35	17	$	$	SYM
fsr-3187	35	18	10	10	NUM
fsr-3187	35	19	billion	billion	NUM
fsr-3187	35	20	a	a	DET
fsr-3187	35	21	-	-	PUNCT
fsr-3187	35	22	year	year	NOUN
fsr-3187	35	23	-	-	PUNCT
fsr-3187	35	24	loss	loss	NOUN
fsr-3187	35	25	in	in	ADP
fsr-3187	35	26	78	78	NUM
fsr-3187	35	27	a.	a.	NOUN
fsr-3187	35	28	kaushik	kaushik	PROPN
fsr-3187	35	29	et	et	PROPN
fsr-3187	35	30	al	al	PROPN
fsr-3187	35	31	.	.	PUNCT
fsr-3187	35	32	/	/	SYM
fsr-3187	35	33	financial	financial	ADJ
fsr-3187	35	34	services	service	NOUN
fsr-3187	35	35	review	review	VERB
fsr-3187	35	36	23	23	NUM
fsr-3187	35	37	(	(	PUNCT
fsr-3187	35	38	2014	2014	NUM
fsr-3187	35	39	)	)	PUNCT
fsr-3187	35	40	77–91	77–91	NUM
fsr-3187	35	41	revenue	revenue	NOUN
fsr-3187	35	42	for	for	ADP
fsr-3187	35	43	pfizer	pfizer	NOUN
fsr-3187	35	44	,	,	PUNCT
fsr-3187	35	45	a	a	DET
fsr-3187	35	46	well	well	ADV
fsr-3187	35	47	-	-	PUNCT
fsr-3187	35	48	known	know	VERB
fsr-3187	35	49	pharmaceutical	pharmaceutical	NOUN
fsr-3187	35	50	firm	firm	NOUN
fsr-3187	35	51	,	,	PUNCT
fsr-3187	35	52	at	at	ADP
fsr-3187	35	53	the	the	DET
fsr-3187	35	54	expiration	expiration	NOUN
fsr-3187	35	55	of	of	ADP
fsr-3187	35	56	patents	patent	NOUN
fsr-3187	35	57	for	for	ADP
fsr-3187	35	58	its	its	PRON
fsr-3187	35	59	famous	famous	ADJ
fsr-3187	35	60	cholesterol	cholesterol	NOUN
fsr-3187	35	61	drug	drug	NOUN
fsr-3187	35	62	lipitor	lipitor	NOUN
fsr-3187	35	63	.	.	PUNCT
fsr-3187	36	1	“	"	PUNCT
fsr-3187	36	2	the	the	DET
fsr-3187	36	3	loss	loss	NOUN
fsr-3187	36	4	poses	pose	VERB
fsr-3187	36	5	a	a	DET
fsr-3187	36	6	daunting	daunting	ADJ
fsr-3187	36	7	challenge	challenge	NOUN
fsr-3187	36	8	for	for	ADP
fsr-3187	36	9	pfizer	pfizer	NOUN
fsr-3187	36	10	,	,	PUNCT
fsr-3187	36	11	one	one	NUM
fsr-3187	36	12	shared	share	VERB
fsr-3187	36	13	by	by	ADP
fsr-3187	36	14	nearly	nearly	ADV
fsr-3187	36	15	every	every	DET
fsr-3187	36	16	pharmaceutical	pharmaceutical	ADJ
fsr-3187	36	17	company	company	NOUN
fsr-3187	36	18	.	.	PUNCT
fsr-3187	36	19	”7	”7	PUNCT
fsr-3187	37	1	given	give	VERB
fsr-3187	37	2	the	the	DET
fsr-3187	37	3	extreme	extreme	ADJ
fsr-3187	37	4	volatility	volatility	NOUN
fsr-3187	37	5	in	in	ADP
fsr-3187	37	6	this	this	DET
fsr-3187	37	7	sector	sector	NOUN
fsr-3187	37	8	,	,	PUNCT
fsr-3187	37	9	some	some	DET
fsr-3187	37	10	analysts	analyst	NOUN
fsr-3187	37	11	argue	argue	VERB
fsr-3187	37	12	that	that	SCONJ
fsr-3187	37	13	this	this	DET
fsr-3187	37	14	sector	sector	NOUN
fsr-3187	37	15	should	should	AUX
fsr-3187	37	16	underperform	underperform	VERB
fsr-3187	37	17	compared	compare	VERB
fsr-3187	37	18	to	to	ADP
fsr-3187	37	19	the	the	DET
fsr-3187	37	20	broad	broad	ADJ
fsr-3187	37	21	market	market	NOUN
fsr-3187	37	22	.	.	PUNCT
fsr-3187	38	1	finally	finally	ADV
fsr-3187	38	2	,	,	PUNCT
fsr-3187	38	3	the	the	DET
fsr-3187	38	4	number	number	NOUN
fsr-3187	38	5	of	of	ADP
fsr-3187	38	6	funds	fund	NOUN
fsr-3187	38	7	in	in	ADP
fsr-3187	38	8	this	this	DET
fsr-3187	38	9	sector	sector	NOUN
fsr-3187	38	10	fluctuated	fluctuate	VERB
fsr-3187	38	11	quite	quite	ADV
fsr-3187	38	12	vigorously	vigorously	ADV
fsr-3187	38	13	over	over	ADP
fsr-3187	38	14	the	the	DET
fsr-3187	38	15	last	last	ADJ
fsr-3187	38	16	decade	decade	NOUN
fsr-3187	38	17	.	.	PUNCT
fsr-3187	39	1	for	for	ADP
fsr-3187	39	2	example	example	NOUN
fsr-3187	39	3	,	,	PUNCT
fsr-3187	39	4	the	the	DET
fsr-3187	39	5	number	number	NOUN
fsr-3187	39	6	of	of	ADP
fsr-3187	39	7	healthcare	healthcare	NOUN
fsr-3187	39	8	funds	fund	NOUN
fsr-3187	39	9	increased	increase	VERB
fsr-3187	39	10	rapidly	rapidly	ADV
fsr-3187	39	11	and	and	CCONJ
fsr-3187	39	12	reached	reach	VERB
fsr-3187	39	13	to	to	ADP
fsr-3187	39	14	a	a	DET
fsr-3187	39	15	record	record	ADJ
fsr-3187	39	16	level	level	NOUN
fsr-3187	39	17	of	of	ADP
fsr-3187	39	18	88	88	NUM
fsr-3187	39	19	funds	fund	NOUN
fsr-3187	39	20	in	in	ADP
fsr-3187	39	21	2007	2007	NUM
fsr-3187	39	22	since	since	SCONJ
fsr-3187	39	23	then	then	ADV
fsr-3187	39	24	healthcare	healthcare	NOUN
fsr-3187	39	25	funds	fund	NOUN
fsr-3187	39	26	experienced	experience	VERB
fsr-3187	39	27	a	a	DET
fsr-3187	39	28	sudden	sudden	ADJ
fsr-3187	39	29	decline	decline	NOUN
fsr-3187	39	30	and	and	CCONJ
fsr-3187	39	31	the	the	DET
fsr-3187	39	32	number	number	NOUN
fsr-3187	39	33	reduced	reduce	VERB
fsr-3187	39	34	to	to	ADP
fsr-3187	39	35	56	56	NUM
fsr-3187	39	36	funds	fund	NOUN
fsr-3187	39	37	by	by	ADP
fsr-3187	39	38	the	the	DET
fsr-3187	39	39	end	end	NOUN
fsr-3187	39	40	of	of	ADP
fsr-3187	39	41	2011	2011	NUM
fsr-3187	39	42	.	.	PUNCT
fsr-3187	40	1	given	give	VERB
fsr-3187	40	2	the	the	DET
fsr-3187	40	3	extreme	extreme	ADJ
fsr-3187	40	4	volatility	volatility	NOUN
fsr-3187	40	5	in	in	ADP
fsr-3187	40	6	this	this	DET
fsr-3187	40	7	sector	sector	NOUN
fsr-3187	40	8	,	,	PUNCT
fsr-3187	40	9	difference	difference	NOUN
fsr-3187	40	10	of	of	ADP
fsr-3187	40	11	opinions	opinion	NOUN
fsr-3187	40	12	among	among	ADP
fsr-3187	40	13	analysts	analyst	NOUN
fsr-3187	40	14	regarding	regard	VERB
fsr-3187	40	15	this	this	DET
fsr-3187	40	16	sector	sector	NOUN
fsr-3187	40	17	’s	’s	PART
fsr-3187	40	18	performance	performance	NOUN
fsr-3187	40	19	,	,	PUNCT
fsr-3187	40	20	and	and	CCONJ
fsr-3187	40	21	continued	continued	ADJ
fsr-3187	40	22	political	political	ADJ
fsr-3187	40	23	debate	debate	NOUN
fsr-3187	40	24	over	over	ADP
fsr-3187	40	25	the	the	DET
fsr-3187	40	26	healthcare	healthcare	NOUN
fsr-3187	40	27	reforms	reform	NOUN
fsr-3187	40	28	,	,	PUNCT
fsr-3187	40	29	the	the	DET
fsr-3187	40	30	performance	performance	NOUN
fsr-3187	40	31	evaluation	evaluation	NOUN
fsr-3187	40	32	of	of	ADP
fsr-3187	40	33	healthcare	healthcare	NOUN
fsr-3187	40	34	funds	fund	NOUN
fsr-3187	40	35	become	become	VERB
fsr-3187	40	36	more	more	ADV
fsr-3187	40	37	interesting	interesting	ADJ
fsr-3187	40	38	and	and	CCONJ
fsr-3187	40	39	informative	informative	ADJ
fsr-3187	40	40	.	.	PUNCT
fsr-3187	41	1	this	this	DET
fsr-3187	41	2	research	research	NOUN
fsr-3187	41	3	argues	argue	VERB
fsr-3187	41	4	that	that	SCONJ
fsr-3187	41	5	the	the	DET
fsr-3187	41	6	healthcare	healthcare	NOUN
fsr-3187	41	7	stocks	stock	NOUN
fsr-3187	41	8	offer	offer	VERB
fsr-3187	41	9	volatility	volatility	NOUN
fsr-3187	41	10	,	,	PUNCT
fsr-3187	41	11	but	but	CCONJ
fsr-3187	41	12	they	they	PRON
fsr-3187	41	13	also	also	ADV
fsr-3187	41	14	offer	offer	VERB
fsr-3187	41	15	opportunities	opportunity	NOUN
fsr-3187	41	16	.	.	PUNCT
fsr-3187	42	1	individual	individual	ADJ
fsr-3187	42	2	investors	investor	NOUN
fsr-3187	42	3	may	may	AUX
fsr-3187	42	4	not	not	PART
fsr-3187	42	5	have	have	VERB
fsr-3187	42	6	resources	resource	NOUN
fsr-3187	42	7	and	and	CCONJ
fsr-3187	42	8	abilities	ability	NOUN
fsr-3187	42	9	to	to	PART
fsr-3187	42	10	select	select	VERB
fsr-3187	42	11	the	the	DET
fsr-3187	42	12	right	right	ADJ
fsr-3187	42	13	mix	mix	NOUN
fsr-3187	42	14	,	,	PUNCT
fsr-3187	42	15	but	but	CCONJ
fsr-3187	42	16	fund	fund	NOUN
fsr-3187	42	17	managers	manager	NOUN
fsr-3187	42	18	,	,	PUNCT
fsr-3187	42	19	especially	especially	ADV
fsr-3187	42	20	those	those	PRON
fsr-3187	42	21	who	who	PRON
fsr-3187	42	22	only	only	ADV
fsr-3187	42	23	invest	invest	VERB
fsr-3187	42	24	in	in	ADP
fsr-3187	42	25	this	this	DET
fsr-3187	42	26	sector	sector	NOUN
fsr-3187	42	27	,	,	PUNCT
fsr-3187	42	28	should	should	AUX
fsr-3187	42	29	be	be	AUX
fsr-3187	42	30	able	able	ADJ
fsr-3187	42	31	to	to	PART
fsr-3187	42	32	use	use	VERB
fsr-3187	42	33	their	their	PRON
fsr-3187	42	34	information	information	NOUN
fsr-3187	42	35	to	to	ADP
fsr-3187	42	36	their	their	PRON
fsr-3187	42	37	advantage	advantage	NOUN
fsr-3187	42	38	.	.	PUNCT
fsr-3187	43	1	in	in	ADP
fsr-3187	43	2	this	this	DET
fsr-3187	43	3	research	research	NOUN
fsr-3187	43	4	,	,	PUNCT
fsr-3187	43	5	we	we	PRON
fsr-3187	43	6	analyze	analyze	VERB
fsr-3187	43	7	whether	whether	SCONJ
fsr-3187	43	8	expert	expert	NOUN
fsr-3187	43	9	managers	manager	NOUN
fsr-3187	43	10	have	have	VERB
fsr-3187	43	11	abilities	ability	NOUN
fsr-3187	43	12	to	to	PART
fsr-3187	43	13	select	select	VERB
fsr-3187	43	14	the	the	DET
fsr-3187	43	15	right	right	ADJ
fsr-3187	43	16	mix	mix	NOUN
fsr-3187	43	17	of	of	ADP
fsr-3187	43	18	healthcare	healthcare	NOUN
fsr-3187	43	19	stocks	stock	NOUN
fsr-3187	43	20	?	?	PUNCT
fsr-3187	44	1	if	if	SCONJ
fsr-3187	44	2	so	so	ADV
fsr-3187	44	3	,	,	PUNCT
fsr-3187	44	4	are	be	AUX
fsr-3187	44	5	they	they	PRON
fsr-3187	44	6	able	able	ADJ
fsr-3187	44	7	to	to	PART
fsr-3187	44	8	repeat	repeat	VERB
fsr-3187	44	9	their	their	PRON
fsr-3187	44	10	performance	performance	NOUN
fsr-3187	44	11	?	?	PUNCT
fsr-3187	45	1	in	in	ADP
fsr-3187	45	2	other	other	ADJ
fsr-3187	45	3	words	word	NOUN
fsr-3187	45	4	,	,	PUNCT
fsr-3187	45	5	are	be	AUX
fsr-3187	45	6	these	these	DET
fsr-3187	45	7	managers	manager	NOUN
fsr-3187	45	8	simply	simply	ADV
fsr-3187	45	9	lucky	lucky	ADJ
fsr-3187	45	10	or	or	CCONJ
fsr-3187	45	11	are	be	AUX
fsr-3187	45	12	they	they	PRON
fsr-3187	45	13	really	really	ADV
fsr-3187	45	14	able	able	ADJ
fsr-3187	45	15	to	to	PART
fsr-3187	45	16	pick	pick	VERB
fsr-3187	45	17	good	good	ADJ
fsr-3187	45	18	stocks	stock	NOUN
fsr-3187	45	19	?	?	PUNCT
fsr-3187	46	1	what	what	PRON
fsr-3187	46	2	fund	fund	VERB
fsr-3187	46	3	specific	specific	ADJ
fsr-3187	46	4	attribute(s	attribute(s	NOUN
fsr-3187	46	5	)	)	PUNCT
fsr-3187	46	6	may	may	AUX
fsr-3187	46	7	have	have	VERB
fsr-3187	46	8	explanatory	explanatory	ADJ
fsr-3187	46	9	power	power	NOUN
fsr-3187	46	10	behind	behind	ADP
fsr-3187	46	11	any	any	DET
fsr-3187	46	12	such	such	ADJ
fsr-3187	46	13	abnormal	abnormal	ADJ
fsr-3187	46	14	performance	performance	NOUN
fsr-3187	46	15	?	?	PUNCT
fsr-3187	47	1	the	the	DET
fsr-3187	47	2	remainder	remainder	NOUN
fsr-3187	47	3	of	of	ADP
fsr-3187	47	4	this	this	DET
fsr-3187	47	5	article	article	NOUN
fsr-3187	47	6	is	be	AUX
fsr-3187	47	7	structured	structure	VERB
fsr-3187	47	8	as	as	SCONJ
fsr-3187	47	9	follows	follow	VERB
fsr-3187	47	10	:	:	PUNCT
fsr-3187	47	11	section	section	NOUN
fsr-3187	47	12	2	2	NUM
fsr-3187	47	13	reviews	review	VERB
fsr-3187	47	14	the	the	DET
fsr-3187	47	15	existing	exist	VERB
fsr-3187	47	16	literature	literature	NOUN
fsr-3187	47	17	on	on	ADP
fsr-3187	47	18	sector	sector	NOUN
fsr-3187	47	19	and	and	CCONJ
fsr-3187	47	20	equity	equity	NOUN
fsr-3187	47	21	mutual	mutual	ADJ
fsr-3187	47	22	funds	fund	NOUN
fsr-3187	47	23	;	;	PUNCT
fsr-3187	47	24	section	section	NOUN
fsr-3187	47	25	3	3	NUM
fsr-3187	47	26	describes	describe	VERB
fsr-3187	47	27	the	the	DET
fsr-3187	47	28	data	datum	NOUN
fsr-3187	47	29	;	;	PUNCT
fsr-3187	47	30	section	section	NOUN
fsr-3187	47	31	4	4	NUM
fsr-3187	47	32	describes	describe	VERB
fsr-3187	47	33	methodology	methodology	NOUN
fsr-3187	47	34	;	;	PUNCT
fsr-3187	47	35	section	section	NOUN
fsr-3187	47	36	5	5	NUM
fsr-3187	47	37	summarizes	summarize	VERB
fsr-3187	47	38	the	the	DET
fsr-3187	47	39	empirical	empirical	ADJ
fsr-3187	47	40	results	result	NOUN
fsr-3187	47	41	;	;	PUNCT
fsr-3187	47	42	and	and	CCONJ
fsr-3187	47	43	section	section	NOUN
fsr-3187	47	44	6	6	NUM
fsr-3187	47	45	concludes	conclude	VERB
fsr-3187	47	46	the	the	DET
fsr-3187	47	47	article	article	NOUN
fsr-3187	47	48	.	.	PUNCT
fsr-3187	48	1	2	2	X
fsr-3187	48	2	.	.	X
fsr-3187	48	3	literature	literature	NOUN
fsr-3187	48	4	review	review	NOUN
fsr-3187	48	5	sector	sector	NOUN
fsr-3187	48	6	funds	fund	NOUN
fsr-3187	48	7	are	be	AUX
fsr-3187	48	8	mutual	mutual	ADJ
fsr-3187	48	9	funds	fund	NOUN
fsr-3187	48	10	with	with	ADP
fsr-3187	48	11	a	a	DET
fsr-3187	48	12	narrow	narrow	ADJ
fsr-3187	48	13	focus.8	focus.8	ADJ
fsr-3187	48	14	in	in	ADP
fsr-3187	48	15	essence	essence	NOUN
fsr-3187	48	16	sector	sector	NOUN
fsr-3187	48	17	specific	specific	ADJ
fsr-3187	48	18	funds	fund	NOUN
fsr-3187	48	19	only	only	ADV
fsr-3187	48	20	invest	invest	VERB
fsr-3187	48	21	in	in	ADP
fsr-3187	48	22	a	a	DET
fsr-3187	48	23	particular	particular	ADJ
fsr-3187	48	24	sector	sector	NOUN
fsr-3187	48	25	/	/	SYM
fsr-3187	48	26	industry	industry	NOUN
fsr-3187	48	27	of	of	ADP
fsr-3187	48	28	the	the	DET
fsr-3187	48	29	economy	economy	NOUN
fsr-3187	48	30	;	;	PUNCT
fsr-3187	48	31	therefore	therefore	ADV
fsr-3187	48	32	,	,	PUNCT
fsr-3187	48	33	these	these	DET
fsr-3187	48	34	funds	fund	NOUN
fsr-3187	48	35	are	be	AUX
fsr-3187	48	36	not	not	PART
fsr-3187	48	37	as	as	ADV
fsr-3187	48	38	diversified	diversified	ADJ
fsr-3187	48	39	as	as	ADP
fsr-3187	48	40	other	other	ADJ
fsr-3187	48	41	equity	equity	NOUN
fsr-3187	48	42	funds	fund	NOUN
fsr-3187	48	43	.	.	PUNCT
fsr-3187	49	1	because	because	SCONJ
fsr-3187	49	2	of	of	ADP
fsr-3187	49	3	the	the	DET
fsr-3187	49	4	homogenous	homogenous	ADJ
fsr-3187	49	5	risk	risk	NOUN
fsr-3187	49	6	in	in	ADP
fsr-3187	49	7	their	their	PRON
fsr-3187	49	8	holdings	holding	NOUN
fsr-3187	49	9	,	,	PUNCT
fsr-3187	49	10	sector	sector	NOUN
fsr-3187	49	11	funds	fund	NOUN
fsr-3187	49	12	tend	tend	VERB
fsr-3187	49	13	to	to	PART
fsr-3187	49	14	be	be	AUX
fsr-3187	49	15	more	more	ADV
fsr-3187	49	16	volatile	volatile	ADJ
fsr-3187	49	17	;	;	PUNCT
fsr-3187	49	18	however	however	ADV
fsr-3187	49	19	,	,	PUNCT
fsr-3187	49	20	some	some	PRON
fsr-3187	49	21	may	may	AUX
fsr-3187	49	22	argue	argue	VERB
fsr-3187	49	23	that	that	SCONJ
fsr-3187	49	24	their	their	PRON
fsr-3187	49	25	niche	niche	NOUN
fsr-3187	49	26	focus	focus	NOUN
fsr-3187	49	27	should	should	AUX
fsr-3187	49	28	give	give	VERB
fsr-3187	49	29	fund	fund	NOUN
fsr-3187	49	30	managers	manager	NOUN
fsr-3187	49	31	more	more	ADJ
fsr-3187	49	32	information	information	NOUN
fsr-3187	49	33	about	about	ADP
fsr-3187	49	34	the	the	DET
fsr-3187	49	35	industry	industry	NOUN
fsr-3187	49	36	in	in	ADP
fsr-3187	49	37	which	which	PRON
fsr-3187	49	38	they	they	PRON
fsr-3187	49	39	invest	invest	VERB
fsr-3187	49	40	and	and	CCONJ
fsr-3187	49	41	in	in	ADP
fsr-3187	49	42	turn	turn	NOUN
fsr-3187	49	43	,	,	PUNCT
fsr-3187	49	44	these	these	DET
fsr-3187	49	45	funds	fund	NOUN
fsr-3187	49	46	earn	earn	VERB
fsr-3187	49	47	higher	high	ADJ
fsr-3187	49	48	return	return	NOUN
fsr-3187	49	49	despite	despite	SCONJ
fsr-3187	49	50	taking	take	VERB
fsr-3187	49	51	more	more	ADJ
fsr-3187	49	52	risk	risk	NOUN
fsr-3187	49	53	.	.	PUNCT
fsr-3187	50	1	in	in	ADP
fsr-3187	50	2	other	other	ADJ
fsr-3187	50	3	words	word	NOUN
fsr-3187	50	4	,	,	PUNCT
fsr-3187	50	5	sector	sector	NOUN
fsr-3187	50	6	fund	fund	NOUN
fsr-3187	50	7	managers	manager	NOUN
fsr-3187	50	8	may	may	AUX
fsr-3187	50	9	possess	possess	VERB
fsr-3187	50	10	better	well	ADJ
fsr-3187	50	11	selectivity	selectivity	NOUN
fsr-3187	50	12	skills	skill	NOUN
fsr-3187	50	13	than	than	ADP
fsr-3187	50	14	their	their	PRON
fsr-3187	50	15	well	well	ADV
fsr-3187	50	16	-	-	PUNCT
fsr-3187	50	17	diversified	diversify	VERB
fsr-3187	50	18	counterparts	counterpart	NOUN
fsr-3187	50	19	.	.	PUNCT
fsr-3187	51	1	another	another	DET
fsr-3187	51	2	argument	argument	NOUN
fsr-3187	51	3	that	that	PRON
fsr-3187	51	4	might	might	AUX
fsr-3187	51	5	support	support	VERB
fsr-3187	51	6	the	the	DET
fsr-3187	51	7	diversification	diversification	NOUN
fsr-3187	51	8	of	of	ADP
fsr-3187	51	9	sector	sector	NOUN
fsr-3187	51	10	funds	fund	NOUN
fsr-3187	51	11	stems	stem	VERB
fsr-3187	51	12	from	from	ADP
fsr-3187	51	13	the	the	DET
fsr-3187	51	14	fact	fact	NOUN
fsr-3187	51	15	that	that	SCONJ
fsr-3187	51	16	although	although	SCONJ
fsr-3187	51	17	these	these	DET
fsr-3187	51	18	funds	fund	NOUN
fsr-3187	51	19	are	be	AUX
fsr-3187	51	20	focused	focus	VERB
fsr-3187	51	21	on	on	ADP
fsr-3187	51	22	a	a	DET
fsr-3187	51	23	specific	specific	ADJ
fsr-3187	51	24	sector	sector	NOUN
fsr-3187	51	25	,	,	PUNCT
fsr-3187	51	26	they	they	PRON
fsr-3187	51	27	do	do	AUX
fsr-3187	51	28	invest	invest	VERB
fsr-3187	51	29	in	in	ADP
fsr-3187	51	30	different	different	ADJ
fsr-3187	51	31	geographic	geographic	ADJ
fsr-3187	51	32	locations	location	NOUN
fsr-3187	51	33	,	,	PUNCT
fsr-3187	51	34	thus	thus	ADV
fsr-3187	51	35	they	they	PRON
fsr-3187	51	36	are	be	AUX
fsr-3187	51	37	not	not	PART
fsr-3187	51	38	exposed	expose	VERB
fsr-3187	51	39	to	to	ADP
fsr-3187	51	40	locational	locational	ADJ
fsr-3187	51	41	risk	risk	NOUN
fsr-3187	51	42	exposure	exposure	NOUN
fsr-3187	51	43	.	.	PUNCT
fsr-3187	52	1	finally	finally	ADV
fsr-3187	52	2	,	,	PUNCT
fsr-3187	52	3	the	the	DET
fsr-3187	52	4	argument	argument	NOUN
fsr-3187	52	5	that	that	SCONJ
fsr-3187	52	6	these	these	DET
fsr-3187	52	7	funds	fund	NOUN
fsr-3187	52	8	are	be	AUX
fsr-3187	52	9	small	small	ADJ
fsr-3187	52	10	is	be	AUX
fsr-3187	52	11	not	not	PART
fsr-3187	52	12	necessarily	necessarily	ADV
fsr-3187	52	13	true	true	ADJ
fsr-3187	52	14	as	as	SCONJ
fsr-3187	52	15	some	some	PRON
fsr-3187	52	16	of	of	ADP
fsr-3187	52	17	these	these	DET
fsr-3187	52	18	funds	fund	NOUN
fsr-3187	52	19	only	only	ADV
fsr-3187	52	20	invest	invest	VERB
fsr-3187	52	21	in	in	ADP
fsr-3187	52	22	large	large	ADJ
fsr-3187	52	23	-	-	PUNCT
fsr-3187	52	24	cap	cap	NOUN
fsr-3187	52	25	firms	firm	NOUN
fsr-3187	52	26	within	within	ADP
fsr-3187	52	27	the	the	DET
fsr-3187	52	28	given	give	VERB
fsr-3187	52	29	sector	sector	NOUN
fsr-3187	52	30	.	.	PUNCT
fsr-3187	53	1	in	in	ADP
fsr-3187	53	2	other	other	ADJ
fsr-3187	53	3	words	word	NOUN
fsr-3187	53	4	,	,	PUNCT
fsr-3187	53	5	it	it	PRON
fsr-3187	53	6	is	be	AUX
fsr-3187	53	7	no	no	DET
fsr-3187	53	8	surprise	surprise	NOUN
fsr-3187	53	9	that	that	SCONJ
fsr-3187	53	10	some	some	DET
fsr-3187	53	11	sector	sector	NOUN
fsr-3187	53	12	funds	fund	NOUN
fsr-3187	53	13	are	be	AUX
fsr-3187	53	14	larger	large	ADJ
fsr-3187	53	15	in	in	ADP
fsr-3187	53	16	terms	term	NOUN
fsr-3187	53	17	of	of	ADP
fsr-3187	53	18	assets	asset	NOUN
fsr-3187	53	19	under	under	ADP
fsr-3187	53	20	management	management	NOUN
fsr-3187	53	21	compared	compare	VERB
fsr-3187	53	22	to	to	ADP
fsr-3187	53	23	some	some	DET
fsr-3187	53	24	well	well	ADV
fsr-3187	53	25	-	-	PUNCT
fsr-3187	53	26	diversified	diversify	VERB
fsr-3187	53	27	funds	fund	NOUN
fsr-3187	53	28	.	.	PUNCT
fsr-3187	54	1	a	a	DET
fsr-3187	54	2	number	number	NOUN
fsr-3187	54	3	of	of	ADP
fsr-3187	54	4	studies	study	NOUN
fsr-3187	54	5	have	have	AUX
fsr-3187	54	6	examined	examine	VERB
fsr-3187	54	7	the	the	DET
fsr-3187	54	8	performance	performance	NOUN
fsr-3187	54	9	of	of	ADP
fsr-3187	54	10	sector	sector	NOUN
fsr-3187	54	11	specific	specific	ADJ
fsr-3187	54	12	funds	fund	NOUN
fsr-3187	54	13	.	.	PUNCT
fsr-3187	55	1	the	the	DET
fsr-3187	55	2	existing	exist	VERB
fsr-3187	55	3	research	research	NOUN
fsr-3187	55	4	is	be	AUX
fsr-3187	55	5	limited	limit	VERB
fsr-3187	55	6	on	on	ADP
fsr-3187	55	7	its	its	PRON
fsr-3187	55	8	findings	finding	NOUN
fsr-3187	55	9	on	on	ADP
fsr-3187	55	10	sector	sector	NOUN
fsr-3187	55	11	funds	fund	NOUN
fsr-3187	55	12	performance	performance	NOUN
fsr-3187	55	13	and	and	CCONJ
fsr-3187	55	14	most	most	ADJ
fsr-3187	55	15	of	of	ADP
fsr-3187	55	16	these	these	DET
fsr-3187	55	17	findings	finding	NOUN
fsr-3187	55	18	are	be	AUX
fsr-3187	55	19	mixed	mix	VERB
fsr-3187	55	20	at	at	ADP
fsr-3187	55	21	best	well	ADV
fsr-3187	55	22	or	or	CCONJ
fsr-3187	55	23	inconclusive	inconclusive	ADJ
fsr-3187	55	24	at	at	ADP
fsr-3187	55	25	worst	bad	ADJ
fsr-3187	55	26	.	.	PUNCT
fsr-3187	56	1	for	for	ADP
fsr-3187	56	2	example	example	NOUN
fsr-3187	56	3	,	,	PUNCT
fsr-3187	56	4	khorana	khorana	PROPN
fsr-3187	56	5	and	and	CCONJ
fsr-3187	56	6	nelling	nelle	VERB
fsr-3187	56	7	(	(	PUNCT
fsr-3187	56	8	1997	1997	NUM
fsr-3187	56	9	)	)	PUNCT
fsr-3187	56	10	examined	examine	VERB
fsr-3187	56	11	a	a	DET
fsr-3187	56	12	sample	sample	NOUN
fsr-3187	56	13	of	of	ADP
fsr-3187	56	14	147	147	NUM
fsr-3187	56	15	sector	sector	NOUN
fsr-3187	56	16	funds	fund	NOUN
fsr-3187	56	17	to	to	PART
fsr-3187	56	18	find	find	VERB
fsr-3187	56	19	that	that	SCONJ
fsr-3187	56	20	these	these	DET
fsr-3187	56	21	funds	fund	NOUN
fsr-3187	56	22	do	do	AUX
fsr-3187	56	23	not	not	PART
fsr-3187	56	24	significantly	significantly	ADV
fsr-3187	56	25	outperform	outperform	VERB
fsr-3187	56	26	well	well	ADV
fsr-3187	56	27	-	-	PUNCT
fsr-3187	56	28	diversified	diversify	VERB
fsr-3187	56	29	funds	fund	NOUN
fsr-3187	56	30	or	or	CCONJ
fsr-3187	56	31	at	at	ADP
fsr-3187	56	32	best	good	ADJ
fsr-3187	56	33	perform	perform	NOUN
fsr-3187	56	34	as	as	ADV
fsr-3187	56	35	good	good	ADJ
fsr-3187	56	36	as	as	ADP
fsr-3187	56	37	other	other	ADJ
fsr-3187	56	38	general	general	ADJ
fsr-3187	56	39	equity	equity	NOUN
fsr-3187	56	40	funds	fund	NOUN
fsr-3187	56	41	.	.	PUNCT
fsr-3187	57	1	moreover	moreover	ADV
fsr-3187	57	2	,	,	PUNCT
fsr-3187	57	3	79a	79a	NOUN
fsr-3187	57	4	.	.	PUNCT
fsr-3187	58	1	kaushik	kaushik	PROPN
fsr-3187	58	2	et	et	PROPN
fsr-3187	58	3	al	al	PROPN
fsr-3187	58	4	.	.	PUNCT
fsr-3187	58	5	/	/	SYM
fsr-3187	58	6	financial	financial	ADJ
fsr-3187	58	7	services	service	NOUN
fsr-3187	58	8	review	review	VERB
fsr-3187	58	9	23	23	NUM
fsr-3187	58	10	(	(	PUNCT
fsr-3187	58	11	2014	2014	NUM
fsr-3187	58	12	)	)	PUNCT
fsr-3187	58	13	77–91	77–91	NUM
fsr-3187	58	14	they	they	PRON
fsr-3187	58	15	did	do	AUX
fsr-3187	58	16	not	not	PART
fsr-3187	58	17	find	find	VERB
fsr-3187	58	18	persistence	persistence	NOUN
fsr-3187	58	19	in	in	ADP
fsr-3187	58	20	performance	performance	NOUN
fsr-3187	58	21	of	of	ADP
fsr-3187	58	22	their	their	PRON
fsr-3187	58	23	sample	sample	NOUN
fsr-3187	58	24	of	of	ADP
fsr-3187	58	25	sector	sector	NOUN
fsr-3187	58	26	funds	fund	NOUN
fsr-3187	58	27	.	.	PUNCT
fsr-3187	59	1	their	their	PRON
fsr-3187	59	2	sample	sample	NOUN
fsr-3187	59	3	also	also	ADV
fsr-3187	59	4	suggests	suggest	VERB
fsr-3187	59	5	higher	high	ADJ
fsr-3187	59	6	risk	risk	NOUN
fsr-3187	59	7	in	in	ADP
fsr-3187	59	8	sector	sector	NOUN
fsr-3187	59	9	funds	fund	NOUN
fsr-3187	59	10	compared	compare	VERB
fsr-3187	59	11	to	to	ADP
fsr-3187	59	12	general	general	ADJ
fsr-3187	59	13	equity	equity	NOUN
fsr-3187	59	14	funds	fund	NOUN
fsr-3187	59	15	.	.	PUNCT
fsr-3187	60	1	however	however	ADV
fsr-3187	60	2	,	,	PUNCT
fsr-3187	60	3	in	in	ADP
fsr-3187	60	4	another	another	DET
fsr-3187	60	5	study	study	NOUN
fsr-3187	60	6	on	on	ADP
fsr-3187	60	7	sector	sector	NOUN
fsr-3187	60	8	funds	fund	NOUN
fsr-3187	60	9	,	,	PUNCT
fsr-3187	60	10	burlacu	burlacu	NOUN
fsr-3187	60	11	and	and	CCONJ
fsr-3187	60	12	fontaine	fontaine	PROPN
fsr-3187	60	13	(	(	PUNCT
fsr-3187	60	14	2003	2003	NUM
fsr-3187	60	15	)	)	PUNCT
fsr-3187	60	16	analyzed	analyze	VERB
fsr-3187	60	17	102	102	NUM
fsr-3187	60	18	sector	sector	NOUN
fsr-3187	60	19	funds	fund	NOUN
fsr-3187	60	20	and	and	CCONJ
fsr-3187	60	21	find	find	VERB
fsr-3187	60	22	that	that	SCONJ
fsr-3187	60	23	sector	sector	NOUN
fsr-3187	60	24	funds	fund	NOUN
fsr-3187	60	25	outperform	outperform	VERB
fsr-3187	60	26	well	well	ADV
fsr-3187	60	27	-	-	PUNCT
fsr-3187	60	28	diversified	diversify	VERB
fsr-3187	60	29	funds	fund	NOUN
fsr-3187	60	30	.	.	PUNCT
fsr-3187	61	1	their	their	PRON
fsr-3187	61	2	results	result	NOUN
fsr-3187	61	3	are	be	AUX
fsr-3187	61	4	robust	robust	ADJ
fsr-3187	61	5	across	across	ADP
fsr-3187	61	6	different	different	ADJ
fsr-3187	61	7	benchmarks	benchmark	NOUN
fsr-3187	61	8	.	.	PUNCT
fsr-3187	62	1	thus	thus	ADV
fsr-3187	62	2	,	,	PUNCT
fsr-3187	62	3	their	their	PRON
fsr-3187	62	4	results	result	NOUN
fsr-3187	62	5	are	be	AUX
fsr-3187	62	6	very	very	ADV
fsr-3187	62	7	different	different	ADJ
fsr-3187	62	8	from	from	ADP
fsr-3187	62	9	those	those	PRON
fsr-3187	62	10	reported	report	VERB
fsr-3187	62	11	by	by	ADP
fsr-3187	62	12	khorana	khorana	PROPN
fsr-3187	62	13	and	and	CCONJ
fsr-3187	62	14	nelling	nelle	VERB
fsr-3187	62	15	(	(	PUNCT
fsr-3187	62	16	1997	1997	NUM
fsr-3187	62	17	)	)	PUNCT
fsr-3187	62	18	who	who	PRON
fsr-3187	62	19	not	not	PART
fsr-3187	62	20	only	only	ADV
fsr-3187	62	21	reported	report	VERB
fsr-3187	62	22	no	no	ADV
fsr-3187	62	23	over	over	ADV
fsr-3187	62	24	or	or	CCONJ
fsr-3187	62	25	under	under	ADP
fsr-3187	62	26	performance	performance	NOUN
fsr-3187	62	27	by	by	ADP
fsr-3187	62	28	sector	sector	NOUN
fsr-3187	62	29	funds	fund	NOUN
fsr-3187	62	30	but	but	CCONJ
fsr-3187	62	31	also	also	ADV
fsr-3187	62	32	suggested	suggest	VERB
fsr-3187	62	33	that	that	SCONJ
fsr-3187	62	34	benchmark	benchmark	NOUN
fsr-3187	62	35	selection	selection	NOUN
fsr-3187	62	36	plays	play	VERB
fsr-3187	62	37	a	a	DET
fsr-3187	62	38	significant	significant	ADJ
fsr-3187	62	39	role	role	NOUN
fsr-3187	62	40	in	in	ADP
fsr-3187	62	41	estimating	estimate	VERB
fsr-3187	62	42	abnormal	abnormal	ADJ
fsr-3187	62	43	performance	performance	NOUN
fsr-3187	62	44	of	of	ADP
fsr-3187	62	45	sector	sector	NOUN
fsr-3187	62	46	funds	fund	NOUN
fsr-3187	62	47	.	.	PUNCT
fsr-3187	63	1	tiwari	tiwari	NOUN
fsr-3187	63	2	and	and	CCONJ
fsr-3187	63	3	vijh	vijh	NOUN
fsr-3187	63	4	(	(	PUNCT
fsr-3187	63	5	2004	2004	NUM
fsr-3187	63	6	)	)	PUNCT
fsr-3187	63	7	analyzed	analyze	VERB
fsr-3187	63	8	more	more	ADJ
fsr-3187	63	9	than	than	ADP
fsr-3187	63	10	600	600	NUM
fsr-3187	63	11	sector	sector	NOUN
fsr-3187	63	12	funds	fund	NOUN
fsr-3187	63	13	and	and	CCONJ
fsr-3187	63	14	find	find	VERB
fsr-3187	63	15	no	no	PRON
fsr-3187	63	16	over	over	ADV
fsr-3187	63	17	or	or	CCONJ
fsr-3187	63	18	under	under	ADP
fsr-3187	63	19	performance	performance	NOUN
fsr-3187	63	20	of	of	ADP
fsr-3187	63	21	these	these	DET
fsr-3187	63	22	funds	fund	NOUN
fsr-3187	63	23	.	.	PUNCT
fsr-3187	64	1	their	their	PRON
fsr-3187	64	2	abnormal	abnormal	ADJ
fsr-3187	64	3	performance	performance	NOUN
fsr-3187	64	4	models	model	NOUN
fsr-3187	64	5	include	include	VERB
fsr-3187	64	6	multifactor	multifactor	NOUN
fsr-3187	64	7	models	model	NOUN
fsr-3187	64	8	,	,	PUNCT
fsr-3187	64	9	both	both	CCONJ
fsr-3187	64	10	conditional	conditional	ADJ
fsr-3187	64	11	and	and	CCONJ
fsr-3187	64	12	unconditional	unconditional	ADJ
fsr-3187	64	13	.	.	PUNCT
fsr-3187	65	1	brooks	brooks	PROPN
fsr-3187	65	2	and	and	CCONJ
fsr-3187	65	3	porter	porter	NOUN
fsr-3187	65	4	(	(	PUNCT
fsr-3187	65	5	2012	2012	NUM
fsr-3187	65	6	)	)	PUNCT
fsr-3187	65	7	analyze	analyze	VERB
fsr-3187	65	8	equity	equity	NOUN
fsr-3187	65	9	funds	fund	NOUN
fsr-3187	65	10	over	over	ADP
fsr-3187	65	11	the	the	DET
fsr-3187	65	12	period	period	NOUN
fsr-3187	65	13	1994–2005	1994–2005	NUM
fsr-3187	65	14	and	and	CCONJ
fsr-3187	65	15	find	find	VERB
fsr-3187	65	16	that	that	SCONJ
fsr-3187	65	17	fund	fund	NOUN
fsr-3187	65	18	managers	manager	NOUN
fsr-3187	65	19	were	be	AUX
fsr-3187	65	20	able	able	ADJ
fsr-3187	65	21	to	to	PART
fsr-3187	65	22	allocate	allocate	VERB
fsr-3187	65	23	funds	fund	NOUN
fsr-3187	65	24	adequately	adequately	ADV
fsr-3187	65	25	across	across	ADP
fsr-3187	65	26	sectors	sector	NOUN
fsr-3187	65	27	but	but	CCONJ
fsr-3187	65	28	failed	fail	VERB
fsr-3187	65	29	to	to	PART
fsr-3187	65	30	pick	pick	VERB
fsr-3187	65	31	superior	superior	ADJ
fsr-3187	65	32	stocks	stock	NOUN
fsr-3187	65	33	.	.	PUNCT
fsr-3187	66	1	however	however	ADV
fsr-3187	66	2	,	,	PUNCT
fsr-3187	66	3	they	they	PRON
fsr-3187	66	4	also	also	ADV
fsr-3187	66	5	find	find	VERB
fsr-3187	66	6	that	that	SCONJ
fsr-3187	66	7	fund	fund	NOUN
fsr-3187	66	8	managers	manager	NOUN
fsr-3187	66	9	were	be	AUX
fsr-3187	66	10	able	able	ADJ
fsr-3187	66	11	to	to	PART
fsr-3187	66	12	do	do	VERB
fsr-3187	66	13	both	both	PRON
fsr-3187	66	14	during	during	ADP
fsr-3187	66	15	the	the	DET
fsr-3187	66	16	bear	bear	NOUN
fsr-3187	66	17	market	market	NOUN
fsr-3187	66	18	cycles	cycle	NOUN
fsr-3187	66	19	.	.	PUNCT
fsr-3187	67	1	on	on	ADP
fsr-3187	67	2	the	the	DET
fsr-3187	67	3	other	other	ADJ
fsr-3187	67	4	hand	hand	NOUN
fsr-3187	67	5	,	,	PUNCT
fsr-3187	67	6	kacperczyk	kacperczyk	NOUN
fsr-3187	67	7	,	,	PUNCT
fsr-3187	67	8	sialm	sialm	NOUN
fsr-3187	67	9	,	,	PUNCT
fsr-3187	67	10	and	and	CCONJ
fsr-3187	67	11	zheng	zheng	X
fsr-3187	67	12	(	(	PUNCT
fsr-3187	67	13	2005	2005	NUM
fsr-3187	67	14	)	)	PUNCT
fsr-3187	67	15	found	find	VERB
fsr-3187	67	16	superior	superior	ADJ
fsr-3187	67	17	abnormal	abnormal	ADJ
fsr-3187	67	18	performance	performance	NOUN
fsr-3187	67	19	by	by	ADP
fsr-3187	67	20	funds	fund	NOUN
fsr-3187	67	21	that	that	PRON
fsr-3187	67	22	concentrated	concentrate	VERB
fsr-3187	67	23	on	on	ADP
fsr-3187	67	24	a	a	DET
fsr-3187	67	25	few	few	ADJ
fsr-3187	67	26	industries	industry	NOUN
fsr-3187	67	27	.	.	PUNCT
fsr-3187	68	1	nan	nan	PROPN
fsr-3187	68	2	and	and	CCONJ
fsr-3187	68	3	yan	yan	PROPN
fsr-3187	68	4	(	(	PUNCT
fsr-3187	68	5	2011	2011	NUM
fsr-3187	68	6	)	)	PUNCT
fsr-3187	68	7	analyze	analyze	NOUN
fsr-3187	68	8	fund	fund	NOUN
fsr-3187	68	9	performance	performance	NOUN
fsr-3187	68	10	from	from	ADP
fsr-3187	68	11	another	another	DET
fsr-3187	68	12	perspective	perspective	NOUN
fsr-3187	68	13	.	.	PUNCT
fsr-3187	69	1	they	they	PRON
fsr-3187	69	2	analyze	analyze	VERB
fsr-3187	69	3	performance	performance	NOUN
fsr-3187	69	4	of	of	ADP
fsr-3187	69	5	chinese	chinese	ADJ
fsr-3187	69	6	equity	equity	NOUN
fsr-3187	69	7	funds	fund	NOUN
fsr-3187	69	8	.	.	PUNCT
fsr-3187	70	1	they	they	PRON
fsr-3187	70	2	analyze	analyze	VERB
fsr-3187	70	3	funds	fund	NOUN
fsr-3187	70	4	based	base	VERB
fsr-3187	70	5	on	on	ADP
fsr-3187	70	6	two	two	NUM
fsr-3187	70	7	different	different	ADJ
fsr-3187	70	8	models	model	NOUN
fsr-3187	70	9	-	-	PUNCT
fsr-3187	70	10	the	the	DET
fsr-3187	70	11	sharpe	sharpe	PROPN
fsr-3187	70	12	ratio	ratio	PROPN
fsr-3187	70	13	and	and	CCONJ
fsr-3187	70	14	asset	asset	NOUN
fsr-3187	70	15	pricing	pricing	NOUN
fsr-3187	70	16	model	model	NOUN
fsr-3187	70	17	.	.	PUNCT
fsr-3187	71	1	their	their	PRON
fsr-3187	71	2	results	result	NOUN
fsr-3187	71	3	show	show	VERB
fsr-3187	71	4	that	that	SCONJ
fsr-3187	71	5	actively	actively	ADV
fsr-3187	71	6	managed	manage	VERB
fsr-3187	71	7	chinese	chinese	ADJ
fsr-3187	71	8	funds	fund	NOUN
fsr-3187	71	9	can	can	AUX
fsr-3187	71	10	be	be	AUX
fsr-3187	71	11	a	a	DET
fsr-3187	71	12	better	well	ADJ
fsr-3187	71	13	alternative	alternative	NOUN
fsr-3187	71	14	if	if	SCONJ
fsr-3187	71	15	investors	investor	NOUN
fsr-3187	71	16	are	be	AUX
fsr-3187	71	17	looking	look	VERB
fsr-3187	71	18	at	at	ADP
fsr-3187	71	19	the	the	DET
fsr-3187	71	20	total	total	ADJ
fsr-3187	71	21	risk	risk	NOUN
fsr-3187	71	22	-	-	PUNCT
fsr-3187	71	23	adjusted	adjust	VERB
fsr-3187	71	24	returns	return	NOUN
fsr-3187	71	25	,	,	PUNCT
fsr-3187	71	26	but	but	CCONJ
fsr-3187	71	27	they	they	PRON
fsr-3187	71	28	should	should	AUX
fsr-3187	71	29	invest	invest	VERB
fsr-3187	71	30	in	in	ADP
fsr-3187	71	31	indexed	indexed	ADJ
fsr-3187	71	32	funds	fund	NOUN
fsr-3187	71	33	if	if	SCONJ
fsr-3187	71	34	they	they	PRON
fsr-3187	71	35	are	be	AUX
fsr-3187	71	36	looking	look	VERB
fsr-3187	71	37	at	at	ADP
fsr-3187	71	38	market	market	NOUN
fsr-3187	71	39	risk	risk	NOUN
fsr-3187	71	40	-	-	PUNCT
fsr-3187	71	41	adjusted	adjust	VERB
fsr-3187	71	42	returns	return	NOUN
fsr-3187	71	43	.	.	PUNCT
fsr-3187	72	1	special	special	ADJ
fsr-3187	72	2	sector	sector	NOUN
fsr-3187	72	3	funds	fund	NOUN
fsr-3187	72	4	like	like	ADP
fsr-3187	72	5	real	real	ADJ
fsr-3187	72	6	-	-	PUNCT
fsr-3187	72	7	estate	estate	NOUN
fsr-3187	72	8	sector	sector	NOUN
fsr-3187	72	9	funds	fund	NOUN
fsr-3187	72	10	also	also	ADV
fsr-3187	72	11	have	have	VERB
fsr-3187	72	12	mixed	mixed	ADJ
fsr-3187	72	13	results	result	NOUN
fsr-3187	72	14	of	of	ADP
fsr-3187	72	15	underor	underor	NOUN
fsr-3187	72	16	over	over	ADP
fsr-3187	72	17	-	-	PUNCT
fsr-3187	72	18	performance	performance	NOUN
fsr-3187	72	19	.	.	PUNCT
fsr-3187	73	1	for	for	ADP
fsr-3187	73	2	example	example	NOUN
fsr-3187	73	3	,	,	PUNCT
fsr-3187	73	4	lafever	lafever	ADV
fsr-3187	73	5	and	and	CCONJ
fsr-3187	73	6	canizo	canizo	PROPN
fsr-3187	73	7	(	(	PUNCT
fsr-3187	73	8	2005	2005	NUM
fsr-3187	73	9	)	)	PUNCT
fsr-3187	73	10	found	find	VERB
fsr-3187	73	11	persistence	persistence	NOUN
fsr-3187	73	12	in	in	ADP
fsr-3187	73	13	the	the	DET
fsr-3187	73	14	performance	performance	NOUN
fsr-3187	73	15	of	of	ADP
fsr-3187	73	16	real	real	ADJ
fsr-3187	73	17	estate	estate	NOUN
fsr-3187	73	18	mutual	mutual	ADJ
fsr-3187	73	19	funds	fund	NOUN
fsr-3187	73	20	on	on	ADP
fsr-3187	73	21	gross	gross	ADJ
fsr-3187	73	22	return	return	NOUN
fsr-3187	73	23	basis	basis	NOUN
fsr-3187	73	24	that	that	PRON
fsr-3187	73	25	was	be	AUX
fsr-3187	73	26	also	also	ADV
fsr-3187	73	27	true	true	ADJ
fsr-3187	73	28	when	when	SCONJ
fsr-3187	73	29	net	net	ADJ
fsr-3187	73	30	returns	return	NOUN
fsr-3187	73	31	were	be	AUX
fsr-3187	73	32	used	use	VERB
fsr-3187	73	33	though	though	SCONJ
fsr-3187	73	34	the	the	DET
fsr-3187	73	35	performance	performance	NOUN
fsr-3187	73	36	was	be	AUX
fsr-3187	73	37	less	less	ADV
fsr-3187	73	38	persistent	persistent	ADJ
fsr-3187	73	39	compared	compare	VERB
fsr-3187	73	40	to	to	ADP
fsr-3187	73	41	gross	gross	ADJ
fsr-3187	73	42	returns	return	NOUN
fsr-3187	73	43	basis	basis	NOUN
fsr-3187	73	44	.	.	PUNCT
fsr-3187	74	1	on	on	ADP
fsr-3187	74	2	the	the	DET
fsr-3187	74	3	other	other	ADJ
fsr-3187	74	4	hand	hand	NOUN
fsr-3187	74	5	,	,	PUNCT
fsr-3187	74	6	lin	lin	PROPN
fsr-3187	74	7	and	and	CCONJ
fsr-3187	74	8	yung	yung	PROPN
fsr-3187	74	9	(	(	PUNCT
fsr-3187	74	10	2004	2004	NUM
fsr-3187	74	11	)	)	PUNCT
fsr-3187	74	12	found	find	VERB
fsr-3187	74	13	no	no	DET
fsr-3187	74	14	positive	positive	ADJ
fsr-3187	74	15	performance	performance	NOUN
fsr-3187	74	16	by	by	ADP
fsr-3187	74	17	real	real	ADJ
fsr-3187	74	18	estate	estate	NOUN
fsr-3187	74	19	funds	fund	NOUN
fsr-3187	74	20	and	and	CCONJ
fsr-3187	74	21	they	they	PRON
fsr-3187	74	22	also	also	ADV
fsr-3187	74	23	documented	document	VERB
fsr-3187	74	24	fund	fund	NOUN
fsr-3187	74	25	performance	performance	NOUN
fsr-3187	74	26	persisted	persist	VERB
fsr-3187	74	27	in	in	ADP
fsr-3187	74	28	short	short	ADJ
fsr-3187	74	29	run	run	NOUN
fsr-3187	74	30	.	.	PUNCT
fsr-3187	75	1	dellva	dellva	PROPN
fsr-3187	75	2	,	,	PUNCT
fsr-3187	75	3	demaskey	demaskey	ADJ
fsr-3187	75	4	,	,	PUNCT
fsr-3187	75	5	and	and	CCONJ
fsr-3187	75	6	smith	smith	PROPN
fsr-3187	75	7	(	(	PUNCT
fsr-3187	75	8	2001	2001	NUM
fsr-3187	75	9	)	)	PUNCT
fsr-3187	75	10	found	find	VERB
fsr-3187	75	11	that	that	SCONJ
fsr-3187	75	12	sector	sector	NOUN
fsr-3187	75	13	funds	fund	NOUN
fsr-3187	75	14	outperform	outperform	VERB
fsr-3187	75	15	passive	passive	ADJ
fsr-3187	75	16	markets	market	NOUN
fsr-3187	75	17	when	when	SCONJ
fsr-3187	75	18	the	the	DET
fsr-3187	75	19	s&p	s&p	PROPN
fsr-3187	75	20	500	500	NUM
fsr-3187	75	21	was	be	AUX
fsr-3187	75	22	used	use	VERB
fsr-3187	75	23	as	as	ADP
fsr-3187	75	24	the	the	DET
fsr-3187	75	25	benchmark	benchmark	NOUN
fsr-3187	75	26	;	;	PUNCT
fsr-3187	75	27	however	however	ADV
fsr-3187	75	28	,	,	PUNCT
fsr-3187	75	29	results	result	NOUN
fsr-3187	75	30	improved	improve	VERB
fsr-3187	75	31	dramatically	dramatically	ADV
fsr-3187	75	32	when	when	SCONJ
fsr-3187	75	33	the	the	DET
fsr-3187	75	34	benchmark	benchmark	NOUN
fsr-3187	75	35	was	be	AUX
fsr-3187	75	36	replaced	replace	VERB
fsr-3187	75	37	by	by	ADP
fsr-3187	75	38	dow	dow	PROPN
fsr-3187	75	39	jones	jones	PROPN
fsr-3187	75	40	industry	industry	PROPN
fsr-3187	75	41	and	and	CCONJ
fsr-3187	75	42	subindustry	subindustry	NOUN
fsr-3187	75	43	indices	index	NOUN
fsr-3187	75	44	.	.	PUNCT
fsr-3187	76	1	more	more	ADV
fsr-3187	76	2	recently	recently	ADV
fsr-3187	76	3	,	,	PUNCT
fsr-3187	76	4	kaushik	kaushik	PROPN
fsr-3187	76	5	,	,	PUNCT
fsr-3187	76	6	barnhart	barnhart	PROPN
fsr-3187	76	7	,	,	PUNCT
fsr-3187	76	8	and	and	CCONJ
fsr-3187	76	9	pennathur	pennathur	ADJ
fsr-3187	76	10	(	(	PUNCT
fsr-3187	76	11	2010	2010	NUM
fsr-3187	76	12	)	)	PUNCT
fsr-3187	76	13	analyzed	analyze	VERB
fsr-3187	76	14	roughly	roughly	ADV
fsr-3187	76	15	1,500	1,500	NUM
fsr-3187	76	16	sector	sector	NOUN
fsr-3187	76	17	funds	fund	NOUN
fsr-3187	76	18	over	over	ADP
fsr-3187	76	19	the	the	DET
fsr-3187	76	20	period	period	NOUN
fsr-3187	76	21	1990–2005	1990–2005	NUM
fsr-3187	76	22	including	include	VERB
fsr-3187	76	23	healthcare	healthcare	NOUN
fsr-3187	76	24	funds	fund	NOUN
fsr-3187	76	25	and	and	CCONJ
fsr-3187	76	26	found	find	VERB
fsr-3187	76	27	that	that	SCONJ
fsr-3187	76	28	healthcare	healthcare	NOUN
fsr-3187	76	29	sector	sector	NOUN
fsr-3187	76	30	funds	fund	NOUN
fsr-3187	76	31	outperform	outperform	VERB
fsr-3187	76	32	the	the	DET
fsr-3187	76	33	market	market	NOUN
fsr-3187	76	34	and	and	CCONJ
fsr-3187	76	35	they	they	PRON
fsr-3187	76	36	did	do	AUX
fsr-3187	76	37	show	show	VERB
fsr-3187	76	38	similar	similar	ADJ
fsr-3187	76	39	results	result	NOUN
fsr-3187	76	40	in	in	ADP
fsr-3187	76	41	recession	recession	NOUN
fsr-3187	76	42	periods	period	NOUN
fsr-3187	76	43	.	.	PUNCT
fsr-3187	77	1	their	their	PRON
fsr-3187	77	2	study	study	NOUN
fsr-3187	77	3	,	,	PUNCT
fsr-3187	77	4	however	however	ADV
fsr-3187	77	5	,	,	PUNCT
fsr-3187	77	6	ignored	ignore	VERB
fsr-3187	77	7	the	the	DET
fsr-3187	77	8	most	most	ADV
fsr-3187	77	9	recent	recent	ADJ
fsr-3187	77	10	recession	recession	NOUN
fsr-3187	77	11	known	know	VERB
fsr-3187	77	12	as	as	ADP
fsr-3187	77	13	the	the	DET
fsr-3187	77	14	longest	long	ADJ
fsr-3187	77	15	recession	recession	NOUN
fsr-3187	77	16	since	since	SCONJ
fsr-3187	77	17	the	the	DET
fsr-3187	77	18	end	end	NOUN
fsr-3187	77	19	of	of	ADP
fsr-3187	77	20	the	the	DET
fsr-3187	77	21	great	great	ADJ
fsr-3187	77	22	depression	depression	NOUN
fsr-3187	77	23	.	.	PUNCT
fsr-3187	78	1	larry	larry	PROPN
fsr-3187	78	2	and	and	CCONJ
fsr-3187	78	3	weigand	weigand	PROPN
fsr-3187	78	4	(	(	PUNCT
fsr-3187	78	5	1998	1998	NUM
fsr-3187	78	6	)	)	PUNCT
fsr-3187	78	7	analyze	analyze	VERB
fsr-3187	78	8	the	the	DET
fsr-3187	78	9	persistence	persistence	NOUN
fsr-3187	78	10	effect	effect	NOUN
fsr-3187	78	11	by	by	ADP
fsr-3187	78	12	using	use	VERB
fsr-3187	78	13	the	the	DET
fsr-3187	78	14	characteristics	characteristic	NOUN
fsr-3187	78	15	of	of	ADP
fsr-3187	78	16	holdings	holding	NOUN
fsr-3187	78	17	rather	rather	ADV
fsr-3187	78	18	than	than	ADP
fsr-3187	78	19	using	use	VERB
fsr-3187	78	20	the	the	DET
fsr-3187	78	21	factor	factor	NOUN
fsr-3187	78	22	mimicking	mimic	VERB
fsr-3187	78	23	portfolios	portfolio	NOUN
fsr-3187	78	24	model	model	NOUN
fsr-3187	78	25	.	.	PUNCT
fsr-3187	79	1	their	their	PRON
fsr-3187	79	2	results	result	NOUN
fsr-3187	79	3	indicate	indicate	VERB
fsr-3187	79	4	that	that	SCONJ
fsr-3187	79	5	investors	investor	NOUN
fsr-3187	79	6	should	should	AUX
fsr-3187	79	7	pay	pay	VERB
fsr-3187	79	8	more	more	ADJ
fsr-3187	79	9	attention	attention	NOUN
fsr-3187	79	10	to	to	ADP
fsr-3187	79	11	the	the	DET
fsr-3187	79	12	trends	trend	NOUN
fsr-3187	79	13	in	in	ADP
fsr-3187	79	14	the	the	DET
fsr-3187	79	15	overall	overall	ADJ
fsr-3187	79	16	market	market	NOUN
fsr-3187	79	17	rather	rather	ADV
fsr-3187	79	18	than	than	ADP
fsr-3187	79	19	chasing	chase	VERB
fsr-3187	79	20	the	the	DET
fsr-3187	79	21	past	past	ADJ
fsr-3187	79	22	performance	performance	NOUN
fsr-3187	79	23	.	.	PUNCT
fsr-3187	80	1	fan	fan	PROPN
fsr-3187	80	2	and	and	CCONJ
fsr-3187	80	3	addams	addams	PROPN
fsr-3187	80	4	(	(	PUNCT
fsr-3187	80	5	2012	2012	NUM
fsr-3187	80	6	)	)	PUNCT
fsr-3187	80	7	analyzed	analyze	VERB
fsr-3187	80	8	the	the	DET
fsr-3187	80	9	united	united	PROPN
fsr-3187	80	10	states	states	PROPN
fsr-3187	80	11	based	base	VERB
fsr-3187	80	12	international	international	ADJ
fsr-3187	80	13	mutual	mutual	ADJ
fsr-3187	80	14	funds	fund	NOUN
fsr-3187	80	15	over	over	ADP
fsr-3187	80	16	the	the	DET
fsr-3187	80	17	period	period	NOUN
fsr-3187	80	18	2005–2009	2005–2009	NUM
fsr-3187	80	19	and	and	CCONJ
fsr-3187	80	20	found	find	VERB
fsr-3187	80	21	that	that	SCONJ
fsr-3187	80	22	these	these	DET
fsr-3187	80	23	funds	fund	NOUN
fsr-3187	80	24	outperform	outperform	VERB
fsr-3187	80	25	passive	passive	ADJ
fsr-3187	80	26	benchmarks	benchmark	NOUN
fsr-3187	80	27	.	.	PUNCT
fsr-3187	81	1	their	their	PRON
fsr-3187	81	2	findings	finding	NOUN
fsr-3187	81	3	did	do	AUX
fsr-3187	81	4	not	not	PART
fsr-3187	81	5	find	find	VERB
fsr-3187	81	6	strong	strong	ADJ
fsr-3187	81	7	persistence	persistence	NOUN
fsr-3187	81	8	of	of	ADP
fsr-3187	81	9	performance	performance	NOUN
fsr-3187	81	10	effect	effect	NOUN
fsr-3187	81	11	and	and	CCONJ
fsr-3187	81	12	fund	fund	NOUN
fsr-3187	81	13	specific	specific	ADJ
fsr-3187	81	14	attributes	attribute	NOUN
fsr-3187	81	15	also	also	ADV
fsr-3187	81	16	were	be	AUX
fsr-3187	81	17	not	not	PART
fsr-3187	81	18	so	so	ADV
fsr-3187	81	19	relevant	relevant	ADJ
fsr-3187	81	20	for	for	ADP
fsr-3187	81	21	their	their	PRON
fsr-3187	81	22	sample	sample	NOUN
fsr-3187	81	23	of	of	ADP
fsr-3187	81	24	funds	fund	NOUN
fsr-3187	81	25	.	.	PUNCT
fsr-3187	82	1	philpot	philpot	PROPN
fsr-3187	82	2	(	(	PUNCT
fsr-3187	82	3	2000	2000	NUM
fsr-3187	82	4	)	)	PUNCT
fsr-3187	82	5	evaluates	evaluate	VERB
fsr-3187	82	6	persistence	persistence	NOUN
fsr-3187	82	7	effect	effect	NOUN
fsr-3187	82	8	for	for	ADP
fsr-3187	82	9	nonconventional	nonconventional	ADJ
fsr-3187	82	10	bond	bond	NOUN
fsr-3187	82	11	funds	fund	NOUN
fsr-3187	82	12	.	.	PUNCT
fsr-3187	83	1	findings	finding	NOUN
fsr-3187	83	2	of	of	ADP
fsr-3187	83	3	his	his	PRON
fsr-3187	83	4	study	study	NOUN
fsr-3187	83	5	also	also	ADV
fsr-3187	83	6	show	show	VERB
fsr-3187	83	7	that	that	SCONJ
fsr-3187	83	8	persistence	persistence	NOUN
fsr-3187	83	9	effect	effect	NOUN
fsr-3187	83	10	is	be	AUX
fsr-3187	83	11	limited	limit	VERB
fsr-3187	83	12	only	only	ADV
fsr-3187	83	13	to	to	ADP
fsr-3187	83	14	high	high	ADJ
fsr-3187	83	15	yield	yield	NOUN
fsr-3187	83	16	bond	bond	NOUN
fsr-3187	83	17	funds	fund	NOUN
fsr-3187	83	18	.	.	PUNCT
fsr-3187	84	1	manakyan	manakyan	NOUN
fsr-3187	84	2	and	and	CCONJ
fsr-3187	84	3	liano	liano	NOUN
fsr-3187	84	4	(	(	PUNCT
fsr-3187	84	5	1997	1997	NUM
fsr-3187	84	6	)	)	PUNCT
fsr-3187	84	7	also	also	ADV
fsr-3187	84	8	failed	fail	VERB
fsr-3187	84	9	to	to	PART
fsr-3187	84	10	find	find	VERB
fsr-3187	84	11	evidence	evidence	NOUN
fsr-3187	84	12	of	of	ADP
fsr-3187	84	13	persistence	persistence	NOUN
fsr-3187	84	14	effect	effect	NOUN
fsr-3187	84	15	for	for	ADP
fsr-3187	84	16	funds	fund	NOUN
fsr-3187	84	17	that	that	PRON
fsr-3187	84	18	were	be	AUX
fsr-3187	84	19	closed	close	VERB
fsr-3187	84	20	to	to	ADP
fsr-3187	84	21	new	new	ADJ
fsr-3187	84	22	investors	investor	NOUN
fsr-3187	84	23	.	.	PUNCT
fsr-3187	85	1	given	give	VERB
fsr-3187	85	2	the	the	DET
fsr-3187	85	3	wide	wide	ADJ
fsr-3187	85	4	asymmetry	asymmetry	NOUN
fsr-3187	85	5	in	in	ADP
fsr-3187	85	6	the	the	DET
fsr-3187	85	7	findings	finding	NOUN
fsr-3187	85	8	of	of	ADP
fsr-3187	85	9	sector	sector	NOUN
fsr-3187	85	10	funds	fund	NOUN
fsr-3187	85	11	and	and	CCONJ
fsr-3187	86	1	other	other	ADJ
fsr-3187	86	2	80	80	NUM
fsr-3187	86	3	a.	a.	NOUN
fsr-3187	86	4	kaushik	kaushik	PROPN
fsr-3187	86	5	et	et	PROPN
fsr-3187	86	6	al	al	PROPN
fsr-3187	86	7	.	.	PUNCT
fsr-3187	86	8	/	/	SYM
fsr-3187	86	9	financial	financial	ADJ
fsr-3187	86	10	services	service	NOUN
fsr-3187	86	11	review	review	VERB
fsr-3187	86	12	23	23	NUM
fsr-3187	86	13	(	(	PUNCT
fsr-3187	86	14	2014	2014	NUM
fsr-3187	86	15	)	)	PUNCT
fsr-3187	86	16	77–91	77–91	NUM
fsr-3187	86	17	specialized	specialized	ADJ
fsr-3187	86	18	funds	fund	NOUN
fsr-3187	86	19	like	like	ADP
fsr-3187	86	20	real	real	ADJ
fsr-3187	86	21	-	-	PUNCT
fsr-3187	86	22	estate	estate	NOUN
fsr-3187	86	23	funds	fund	NOUN
fsr-3187	86	24	,	,	PUNCT
fsr-3187	86	25	it	it	PRON
fsr-3187	86	26	is	be	AUX
fsr-3187	86	27	relevant	relevant	ADJ
fsr-3187	86	28	to	to	PART
fsr-3187	86	29	study	study	VERB
fsr-3187	86	30	narrow	narrow	ADJ
fsr-3187	86	31	focused	focus	VERB
fsr-3187	86	32	healthcare	healthcare	NOUN
fsr-3187	86	33	sector	sector	NOUN
fsr-3187	86	34	funds	fund	NOUN
fsr-3187	86	35	especially	especially	ADV
fsr-3187	86	36	when	when	SCONJ
fsr-3187	86	37	this	this	DET
fsr-3187	86	38	sector	sector	NOUN
fsr-3187	86	39	of	of	ADP
fsr-3187	86	40	the	the	DET
fsr-3187	86	41	economy	economy	NOUN
fsr-3187	86	42	has	have	VERB
fsr-3187	86	43	a	a	DET
fsr-3187	86	44	very	very	ADV
fsr-3187	86	45	different	different	ADJ
fsr-3187	86	46	level	level	NOUN
fsr-3187	86	47	of	of	ADP
fsr-3187	86	48	risk	risk	NOUN
fsr-3187	86	49	and	and	CCONJ
fsr-3187	86	50	returns	return	NOUN
fsr-3187	86	51	and	and	CCONJ
fsr-3187	86	52	also	also	ADV
fsr-3187	86	53	experienced	experience	VERB
fsr-3187	86	54	a	a	DET
fsr-3187	86	55	big	big	ADJ
fsr-3187	86	56	swing	swing	NOUN
fsr-3187	86	57	in	in	ADP
fsr-3187	86	58	terms	term	NOUN
fsr-3187	86	59	of	of	ADP
fsr-3187	86	60	growth	growth	NOUN
fsr-3187	86	61	over	over	ADP
fsr-3187	86	62	the	the	DET
fsr-3187	86	63	last	last	ADJ
fsr-3187	86	64	decade	decade	NOUN
fsr-3187	86	65	or	or	CCONJ
fsr-3187	86	66	so	so	ADV
fsr-3187	86	67	.	.	PUNCT
fsr-3187	87	1	3	3	X
fsr-3187	87	2	.	.	X
fsr-3187	87	3	data	datum	NOUN
fsr-3187	87	4	and	and	CCONJ
fsr-3187	87	5	descriptive	descriptive	ADJ
fsr-3187	87	6	statistics	statistic	NOUN
fsr-3187	87	7	the	the	DET
fsr-3187	87	8	majority	majority	NOUN
fsr-3187	87	9	of	of	ADP
fsr-3187	87	10	the	the	DET
fsr-3187	87	11	data	datum	NOUN
fsr-3187	87	12	are	be	AUX
fsr-3187	87	13	taken	take	VERB
fsr-3187	87	14	from	from	ADP
fsr-3187	87	15	the	the	DET
fsr-3187	87	16	morningstar	morningstar	PROPN
fsr-3187	87	17	direct	direct	ADJ
fsr-3187	87	18	database	database	NOUN
fsr-3187	87	19	.	.	PUNCT
fsr-3187	88	1	only	only	ADV
fsr-3187	88	2	those	those	DET
fsr-3187	88	3	domestic	domestic	ADJ
fsr-3187	88	4	equity	equity	NOUN
fsr-3187	88	5	funds	fund	NOUN
fsr-3187	88	6	that	that	PRON
fsr-3187	88	7	invest	invest	VERB
fsr-3187	88	8	in	in	ADP
fsr-3187	88	9	health	health	NOUN
fsr-3187	88	10	-	-	PUNCT
fsr-3187	88	11	care	care	NOUN
fsr-3187	88	12	stocks	stock	NOUN
fsr-3187	88	13	are	be	AUX
fsr-3187	88	14	selected	select	VERB
fsr-3187	88	15	from	from	ADP
fsr-3187	88	16	this	this	DET
fsr-3187	88	17	dataset	dataset	NOUN
fsr-3187	88	18	.	.	PUNCT
fsr-3187	89	1	because	because	SCONJ
fsr-3187	89	2	this	this	DET
fsr-3187	89	3	research	research	NOUN
fsr-3187	89	4	is	be	AUX
fsr-3187	89	5	examining	examine	VERB
fsr-3187	89	6	the	the	DET
fsr-3187	89	7	performance	performance	NOUN
fsr-3187	89	8	of	of	ADP
fsr-3187	89	9	actively	actively	ADV
fsr-3187	89	10	managed	manage	VERB
fsr-3187	89	11	domestic	domestic	ADJ
fsr-3187	89	12	equity	equity	NOUN
fsr-3187	89	13	funds	fund	NOUN
fsr-3187	89	14	;	;	PUNCT
fsr-3187	89	15	therefore	therefore	ADV
fsr-3187	89	16	,	,	PUNCT
fsr-3187	89	17	funds	fund	NOUN
fsr-3187	89	18	that	that	PRON
fsr-3187	89	19	are	be	AUX
fsr-3187	89	20	classified	classify	VERB
fsr-3187	89	21	as	as	ADP
fsr-3187	89	22	index	index	NOUN
fsr-3187	89	23	funds	fund	NOUN
fsr-3187	89	24	,	,	PUNCT
fsr-3187	89	25	international	international	ADJ
fsr-3187	89	26	funds	fund	NOUN
fsr-3187	89	27	,	,	PUNCT
fsr-3187	89	28	hybrid	hybrid	ADJ
fsr-3187	89	29	funds	fund	NOUN
fsr-3187	89	30	,	,	PUNCT
fsr-3187	89	31	bond	bond	NOUN
fsr-3187	89	32	funds	fund	NOUN
fsr-3187	89	33	,	,	PUNCT
fsr-3187	89	34	fund	fund	NOUN
fsr-3187	89	35	of	of	ADP
fsr-3187	89	36	funds	fund	NOUN
fsr-3187	89	37	,	,	PUNCT
fsr-3187	89	38	global	global	ADJ
fsr-3187	89	39	funds	fund	NOUN
fsr-3187	89	40	,	,	PUNCT
fsr-3187	89	41	and	and	CCONJ
fsr-3187	89	42	quant	quant	ADJ
fsr-3187	89	43	funds	fund	NOUN
fsr-3187	89	44	are	be	AUX
fsr-3187	89	45	screened	screen	VERB
fsr-3187	89	46	out	out	ADP
fsr-3187	89	47	from	from	ADP
fsr-3187	89	48	the	the	DET
fsr-3187	89	49	selection	selection	NOUN
fsr-3187	89	50	process	process	NOUN
fsr-3187	89	51	.	.	PUNCT
fsr-3187	90	1	monthly	monthly	ADJ
fsr-3187	90	2	returns	return	NOUN
fsr-3187	90	3	of	of	ADP
fsr-3187	90	4	fama	fama	NOUN
fsr-3187	90	5	-	-	PUNCT
fsr-3187	90	6	french	french	NOUN
fsr-3187	90	7	(	(	PUNCT
fsr-3187	90	8	ff	ff	NOUN
fsr-3187	90	9	)	)	PUNCT
fsr-3187	90	10	(	(	PUNCT
fsr-3187	90	11	fama	fama	NOUN
fsr-3187	90	12	and	and	CCONJ
fsr-3187	90	13	french	french	ADJ
fsr-3187	90	14	,	,	PUNCT
fsr-3187	90	15	1993	1993	NUM
fsr-3187	90	16	)	)	PUNCT
fsr-3187	90	17	factors	factor	NOUN
fsr-3187	90	18	such	such	ADJ
fsr-3187	90	19	as	as	ADP
fsr-3187	90	20	smb	smb	NOUN
fsr-3187	90	21	(	(	PUNCT
fsr-3187	90	22	difference	difference	NOUN
fsr-3187	90	23	in	in	ADP
fsr-3187	90	24	returns	return	NOUN
fsr-3187	90	25	between	between	ADP
fsr-3187	90	26	small	small	ADJ
fsr-3187	90	27	and	and	CCONJ
fsr-3187	90	28	large	large	ADJ
fsr-3187	90	29	capitalization	capitalization	NOUN
fsr-3187	90	30	stocks	stock	NOUN
fsr-3187	90	31	)	)	PUNCT
fsr-3187	90	32	,	,	PUNCT
fsr-3187	90	33	hml	hml	PROPN
fsr-3187	90	34	(	(	PUNCT
fsr-3187	90	35	difference	difference	NOUN
fsr-3187	90	36	in	in	ADP
fsr-3187	90	37	returns	return	NOUN
fsr-3187	90	38	between	between	ADP
fsr-3187	90	39	high	high	ADJ
fsr-3187	90	40	and	and	CCONJ
fsr-3187	90	41	low	low	ADJ
fsr-3187	90	42	book	book	NOUN
fsr-3187	90	43	-	-	PUNCT
fsr-3187	90	44	to	to	ADP
fsr-3187	90	45	-	-	PUNCT
fsr-3187	90	46	market	market	NOUN
fsr-3187	90	47	stocks	stock	NOUN
fsr-3187	90	48	)	)	PUNCT
fsr-3187	90	49	,	,	PUNCT
fsr-3187	90	50	carhart	carhart	NOUN
fsr-3187	90	51	momentum	momentum	NOUN
fsr-3187	90	52	factor	factor	NOUN
fsr-3187	90	53	,	,	PUNCT
fsr-3187	90	54	mom	mom	NOUN
fsr-3187	90	55	(	(	PUNCT
fsr-3187	90	56	difference	difference	NOUN
fsr-3187	90	57	in	in	ADP
fsr-3187	90	58	returns	return	NOUN
fsr-3187	90	59	between	between	ADP
fsr-3187	90	60	stocks	stock	NOUN
fsr-3187	90	61	with	with	ADP
fsr-3187	90	62	high	high	ADJ
fsr-3187	90	63	and	and	CCONJ
fsr-3187	90	64	low	low	ADJ
fsr-3187	90	65	past	past	ADJ
fsr-3187	90	66	returns	return	NOUN
fsr-3187	90	67	)	)	PUNCT
fsr-3187	90	68	,	,	PUNCT
fsr-3187	90	69	and	and	CCONJ
fsr-3187	90	70	monthly	monthly	ADJ
fsr-3187	90	71	risk	risk	NOUN
fsr-3187	90	72	free	free	ADJ
fsr-3187	90	73	returns	return	NOUN
fsr-3187	90	74	and	and	CCONJ
fsr-3187	90	75	monthly	monthly	ADJ
fsr-3187	90	76	crsp	crsp	NOUN
fsr-3187	90	77	value	value	NOUN
fsr-3187	90	78	weighted	weight	VERB
fsr-3187	90	79	returns	return	NOUN
fsr-3187	90	80	are	be	AUX
fsr-3187	90	81	taken	take	VERB
fsr-3187	90	82	from	from	ADP
fsr-3187	90	83	the	the	DET
fsr-3187	90	84	web	web	NOUN
fsr-3187	90	85	site	site	NOUN
fsr-3187	90	86	of	of	ADP
fsr-3187	90	87	kenneth	kenneth	PROPN
fsr-3187	90	88	french	french	PROPN
fsr-3187	90	89	.	.	PUNCT
fsr-3187	91	1	monthly	monthly	ADJ
fsr-3187	91	2	returns	return	NOUN
fsr-3187	91	3	of	of	ADP
fsr-3187	91	4	sample	sample	NOUN
fsr-3187	91	5	funds	fund	NOUN
fsr-3187	91	6	,	,	PUNCT
fsr-3187	91	7	fund	fund	NOUN
fsr-3187	91	8	and	and	CCONJ
fsr-3187	91	9	manager	manager	NOUN
fsr-3187	91	10	specific	specific	ADJ
fsr-3187	91	11	variables	variable	NOUN
fsr-3187	91	12	such	such	ADJ
fsr-3187	91	13	as	as	ADP
fsr-3187	91	14	turnover	turnover	NOUN
fsr-3187	91	15	ratio	ratio	NOUN
fsr-3187	91	16	,	,	PUNCT
fsr-3187	91	17	expense	expense	NOUN
fsr-3187	91	18	ratio	ratio	NOUN
fsr-3187	91	19	,	,	PUNCT
fsr-3187	91	20	manager	manager	NOUN
fsr-3187	91	21	tenure	tenure	NOUN
fsr-3187	91	22	,	,	PUNCT
fsr-3187	91	23	average	average	ADJ
fsr-3187	91	24	-	-	PUNCT
fsr-3187	91	25	market	market	NOUN
fsr-3187	91	26	capitalization	capitalization	NOUN
fsr-3187	91	27	of	of	ADP
fsr-3187	91	28	holdings	holding	NOUN
fsr-3187	91	29	,	,	PUNCT
fsr-3187	91	30	total	total	ADJ
fsr-3187	91	31	net	net	ADJ
fsr-3187	91	32	assets	asset	NOUN
fsr-3187	91	33	,	,	PUNCT
fsr-3187	91	34	fund	fund	NOUN
fsr-3187	91	35	’s	’s	PART
fsr-3187	91	36	investment	investment	NOUN
fsr-3187	91	37	in	in	ADP
fsr-3187	91	38	its	its	PRON
fsr-3187	91	39	top	top	ADJ
fsr-3187	91	40	10	10	NUM
fsr-3187	91	41	%	%	NOUN
fsr-3187	91	42	holdings	holding	NOUN
fsr-3187	91	43	,	,	PUNCT
fsr-3187	91	44	cash	cash	NOUN
fsr-3187	91	45	holdings	holding	NOUN
fsr-3187	91	46	,	,	PUNCT
fsr-3187	91	47	investment	investment	NOUN
fsr-3187	91	48	in	in	ADP
fsr-3187	91	49	common	common	ADJ
fsr-3187	91	50	stocks	stock	NOUN
fsr-3187	91	51	and	and	CCONJ
fsr-3187	91	52	number	number	NOUN
fsr-3187	91	53	of	of	ADP
fsr-3187	91	54	holdings	holding	NOUN
fsr-3187	91	55	are	be	AUX
fsr-3187	91	56	taken	take	VERB
fsr-3187	91	57	from	from	ADP
fsr-3187	91	58	the	the	DET
fsr-3187	91	59	morningstar	morningstar	PROPN
fsr-3187	91	60	direct	direct	PROPN
fsr-3187	91	61	database	database	NOUN
fsr-3187	91	62	.	.	PUNCT
fsr-3187	92	1	most	most	ADJ
fsr-3187	92	2	of	of	ADP
fsr-3187	92	3	the	the	DET
fsr-3187	92	4	fund	fund	NOUN
fsr-3187	92	5	specific	specific	ADJ
fsr-3187	92	6	variables	variable	NOUN
fsr-3187	92	7	are	be	AUX
fsr-3187	92	8	reported	report	VERB
fsr-3187	92	9	on	on	ADP
fsr-3187	92	10	monthly	monthly	ADJ
fsr-3187	92	11	basis	basis	NOUN
fsr-3187	92	12	except	except	SCONJ
fsr-3187	92	13	a	a	DET
fsr-3187	92	14	fund	fund	NOUN
fsr-3187	92	15	’s	’s	PART
fsr-3187	92	16	expense	expense	NOUN
fsr-3187	92	17	ratio	ratio	NOUN
fsr-3187	92	18	and	and	CCONJ
fsr-3187	92	19	turnover	turnover	NOUN
fsr-3187	92	20	ratio	ratio	NOUN
fsr-3187	92	21	;	;	PUNCT
fsr-3187	92	22	therefore	therefore	ADV
fsr-3187	92	23	,	,	PUNCT
fsr-3187	92	24	funds	fund	NOUN
fsr-3187	92	25	’	'	PUNCT
fsr-3187	92	26	expense	expense	NOUN
fsr-3187	92	27	ratios	ratio	NOUN
fsr-3187	92	28	and	and	CCONJ
fsr-3187	92	29	turnover	turnover	NOUN
fsr-3187	92	30	ratios	ratio	NOUN
fsr-3187	92	31	are	be	AUX
fsr-3187	92	32	divided	divide	VERB
fsr-3187	92	33	by	by	ADP
fsr-3187	92	34	12	12	NUM
fsr-3187	92	35	to	to	PART
fsr-3187	92	36	find	find	VERB
fsr-3187	92	37	their	their	PRON
fsr-3187	92	38	monthly	monthly	ADJ
fsr-3187	92	39	equivalents	equivalent	NOUN
fsr-3187	92	40	.	.	PUNCT
fsr-3187	93	1	initial	initial	ADJ
fsr-3187	93	2	screening	screening	NOUN
fsr-3187	93	3	gives	give	VERB
fsr-3187	93	4	a	a	DET
fsr-3187	93	5	sample	sample	NOUN
fsr-3187	93	6	of	of	ADP
fsr-3187	93	7	124	124	NUM
fsr-3187	93	8	funds	fund	NOUN
fsr-3187	93	9	;	;	PUNCT
fsr-3187	93	10	however	however	ADV
fsr-3187	93	11	,	,	PUNCT
fsr-3187	93	12	based	base	VERB
fsr-3187	93	13	on	on	ADP
fsr-3187	93	14	the	the	DET
fsr-3187	93	15	existing	exist	VERB
fsr-3187	93	16	literature	literature	NOUN
fsr-3187	93	17	,	,	PUNCT
fsr-3187	93	18	we	we	PRON
fsr-3187	93	19	selected	select	VERB
fsr-3187	93	20	only	only	ADV
fsr-3187	93	21	those	those	DET
fsr-3187	93	22	funds	fund	NOUN
fsr-3187	93	23	that	that	PRON
fsr-3187	93	24	have	have	VERB
fsr-3187	93	25	at	at	ADV
fsr-3187	93	26	least	least	ADV
fsr-3187	93	27	36	36	NUM
fsr-3187	93	28	monthly	monthly	ADJ
fsr-3187	93	29	observations	observation	NOUN
fsr-3187	93	30	.	.	PUNCT
fsr-3187	94	1	after	after	ADP
fsr-3187	94	2	removing	remove	VERB
fsr-3187	94	3	funds	fund	NOUN
fsr-3187	94	4	with	with	ADP
fsr-3187	94	5	less	less	ADJ
fsr-3187	94	6	than	than	ADP
fsr-3187	94	7	36	36	NUM
fsr-3187	94	8	monthly	monthly	ADJ
fsr-3187	94	9	observations	observation	NOUN
fsr-3187	94	10	,	,	PUNCT
fsr-3187	94	11	115	115	NUM
fsr-3187	94	12	funds	fund	NOUN
fsr-3187	94	13	are	be	AUX
fsr-3187	94	14	available	available	ADJ
fsr-3187	94	15	for	for	ADP
fsr-3187	94	16	empirical	empirical	ADJ
fsr-3187	94	17	purposes	purpose	NOUN
fsr-3187	94	18	.	.	PUNCT
fsr-3187	95	1	table	table	NOUN
fsr-3187	95	2	1	1	NUM
fsr-3187	95	3	reports	report	VERB
fsr-3187	95	4	descriptive	descriptive	ADJ
fsr-3187	95	5	statistics	statistic	NOUN
fsr-3187	95	6	of	of	ADP
fsr-3187	95	7	the	the	DET
fsr-3187	95	8	sample	sample	NOUN
fsr-3187	95	9	funds	fund	NOUN
fsr-3187	95	10	.	.	PUNCT
fsr-3187	96	1	the	the	DET
fsr-3187	96	2	average	average	ADJ
fsr-3187	96	3	size	size	NOUN
fsr-3187	96	4	(	(	PUNCT
fsr-3187	96	5	net	net	ADJ
fsr-3187	96	6	assets	asset	NOUN
fsr-3187	96	7	under	under	ADP
fsr-3187	96	8	management	management	NOUN
fsr-3187	96	9	)	)	PUNCT
fsr-3187	96	10	over	over	ADP
fsr-3187	96	11	the	the	DET
fsr-3187	96	12	12	12	NUM
fsr-3187	96	13	year	year	NOUN
fsr-3187	96	14	period	period	NOUN
fsr-3187	96	15	is	be	AUX
fsr-3187	96	16	$	$	SYM
fsr-3187	96	17	168.50	168.50	NUM
fsr-3187	96	18	million	million	NUM
fsr-3187	96	19	that	that	PRON
fsr-3187	96	20	suggests	suggest	VERB
fsr-3187	96	21	that	that	SCONJ
fsr-3187	96	22	most	most	ADJ
fsr-3187	96	23	of	of	ADP
fsr-3187	96	24	the	the	DET
fsr-3187	96	25	sample	sample	NOUN
fsr-3187	96	26	funds	fund	NOUN
fsr-3187	96	27	are	be	AUX
fsr-3187	96	28	small	small	ADJ
fsr-3187	96	29	-	-	PUNCT
fsr-3187	96	30	cap	cap	NOUN
fsr-3187	96	31	funds	fund	NOUN
fsr-3187	96	32	.	.	PUNCT
fsr-3187	97	1	the	the	DET
fsr-3187	97	2	investment	investment	NOUN
fsr-3187	97	3	in	in	ADP
fsr-3187	97	4	cash	cash	NOUN
fsr-3187	97	5	and	and	CCONJ
fsr-3187	97	6	common	common	ADJ
fsr-3187	97	7	stocks	stock	NOUN
fsr-3187	97	8	is	be	AUX
fsr-3187	97	9	pretty	pretty	ADV
fsr-3187	97	10	constant	constant	ADJ
fsr-3187	97	11	over	over	ADP
fsr-3187	97	12	the	the	DET
fsr-3187	97	13	period	period	NOUN
fsr-3187	97	14	of	of	ADP
fsr-3187	97	15	this	this	DET
fsr-3187	97	16	study	study	NOUN
fsr-3187	97	17	.	.	PUNCT
fsr-3187	98	1	on	on	ADP
fsr-3187	98	2	average	average	ADJ
fsr-3187	98	3	,	,	PUNCT
fsr-3187	98	4	healthcare	healthcare	NOUN
fsr-3187	98	5	funds	fund	NOUN
fsr-3187	98	6	invested	invest	VERB
fsr-3187	98	7	roughly	roughly	ADV
fsr-3187	98	8	96	96	NUM
fsr-3187	98	9	%	%	NOUN
fsr-3187	98	10	of	of	ADP
fsr-3187	98	11	funds	fund	NOUN
fsr-3187	98	12	in	in	ADP
fsr-3187	98	13	common	common	ADJ
fsr-3187	98	14	stocks	stock	NOUN
fsr-3187	98	15	and	and	CCONJ
fsr-3187	98	16	4	4	NUM
fsr-3187	98	17	%	%	NOUN
fsr-3187	98	18	in	in	ADP
fsr-3187	98	19	cash	cash	NOUN
fsr-3187	98	20	.	.	PUNCT
fsr-3187	99	1	the	the	DET
fsr-3187	99	2	turnover	turnover	NOUN
fsr-3187	99	3	ratio	ratio	NOUN
fsr-3187	99	4	varies	vary	VERB
fsr-3187	99	5	significantly	significantly	ADV
fsr-3187	99	6	over	over	ADP
fsr-3187	99	7	the	the	DET
fsr-3187	99	8	12	12	NUM
fsr-3187	99	9	year	year	NOUN
fsr-3187	99	10	period	period	NOUN
fsr-3187	99	11	.	.	PUNCT
fsr-3187	100	1	the	the	DET
fsr-3187	100	2	highest	high	ADJ
fsr-3187	100	3	turnover	turnover	NOUN
fsr-3187	100	4	ratio	ratio	NOUN
fsr-3187	100	5	of	of	ADP
fsr-3187	100	6	584	584	NUM
fsr-3187	100	7	%	%	NOUN
fsr-3187	100	8	is	be	AUX
fsr-3187	100	9	observed	observe	VERB
fsr-3187	100	10	in	in	ADP
fsr-3187	100	11	year	year	NOUN
fsr-3187	100	12	2000	2000	NUM
fsr-3187	100	13	whereas	whereas	SCONJ
fsr-3187	100	14	the	the	DET
fsr-3187	100	15	lowest	low	ADJ
fsr-3187	100	16	of	of	ADP
fsr-3187	100	17	125	125	NUM
fsr-3187	100	18	%	%	NOUN
fsr-3187	100	19	is	be	AUX
fsr-3187	100	20	observed	observe	VERB
fsr-3187	100	21	in	in	ADP
fsr-3187	100	22	year	year	NOUN
fsr-3187	100	23	2006	2006	NUM
fsr-3187	100	24	.	.	PUNCT
fsr-3187	101	1	the	the	DET
fsr-3187	101	2	change	change	NOUN
fsr-3187	101	3	in	in	ADP
fsr-3187	101	4	turnover	turnover	NOUN
fsr-3187	101	5	ratio	ratio	NOUN
fsr-3187	101	6	was	be	AUX
fsr-3187	101	7	dramatic	dramatic	ADJ
fsr-3187	101	8	;	;	PUNCT
fsr-3187	101	9	it	it	PRON
fsr-3187	101	10	dropped	drop	VERB
fsr-3187	101	11	by	by	ADP
fsr-3187	101	12	almost	almost	ADV
fsr-3187	101	13	50	50	NUM
fsr-3187	101	14	%	%	NOUN
fsr-3187	101	15	from	from	ADP
fsr-3187	101	16	an	an	DET
fsr-3187	101	17	unusually	unusually	ADV
fsr-3187	101	18	high	high	ADJ
fsr-3187	101	19	turnover	turnover	NOUN
fsr-3187	101	20	in	in	ADP
fsr-3187	101	21	year	year	NOUN
fsr-3187	101	22	2000	2000	NUM
fsr-3187	101	23	to	to	ADP
fsr-3187	101	24	year	year	NOUN
fsr-3187	101	25	2001	2001	NUM
fsr-3187	101	26	and	and	CCONJ
fsr-3187	101	27	then	then	ADV
fsr-3187	101	28	increased	increase	VERB
fsr-3187	101	29	for	for	ADP
fsr-3187	101	30	the	the	DET
fsr-3187	101	31	next	next	ADJ
fsr-3187	101	32	two	two	NUM
fsr-3187	101	33	years	year	NOUN
fsr-3187	101	34	followed	follow	VERB
fsr-3187	101	35	by	by	ADP
fsr-3187	101	36	a	a	DET
fsr-3187	101	37	sharp	sharp	ADJ
fsr-3187	101	38	decline	decline	NOUN
fsr-3187	101	39	in	in	ADP
fsr-3187	101	40	the	the	DET
fsr-3187	101	41	next	next	ADJ
fsr-3187	101	42	few	few	ADJ
fsr-3187	101	43	years	year	NOUN
fsr-3187	101	44	.	.	PUNCT
fsr-3187	102	1	even	even	ADV
fsr-3187	102	2	though	though	SCONJ
fsr-3187	102	3	most	most	ADJ
fsr-3187	102	4	of	of	ADP
fsr-3187	102	5	these	these	DET
fsr-3187	102	6	funds	fund	NOUN
fsr-3187	102	7	are	be	AUX
fsr-3187	102	8	small	small	ADJ
fsr-3187	102	9	-	-	PUNCT
fsr-3187	102	10	cap	cap	NOUN
fsr-3187	102	11	funds	fund	NOUN
fsr-3187	102	12	,	,	PUNCT
fsr-3187	102	13	the	the	DET
fsr-3187	102	14	average	average	ADJ
fsr-3187	102	15	mean	mean	NOUN
fsr-3187	102	16	market	market	NOUN
fsr-3187	102	17	cap	cap	NOUN
fsr-3187	102	18	of	of	ADP
fsr-3187	102	19	holdings	holding	NOUN
fsr-3187	102	20	of	of	ADP
fsr-3187	102	21	these	these	DET
fsr-3187	102	22	funds	fund	NOUN
fsr-3187	102	23	is	be	AUX
fsr-3187	102	24	roughly	roughly	ADV
fsr-3187	102	25	$	$	SYM
fsr-3187	102	26	15	15	NUM
fsr-3187	102	27	billion	billion	NUM
fsr-3187	102	28	dollars	dollar	NOUN
fsr-3187	102	29	that	that	PRON
fsr-3187	102	30	suggests	suggest	VERB
fsr-3187	102	31	that	that	SCONJ
fsr-3187	102	32	these	these	DET
fsr-3187	102	33	funds	fund	NOUN
fsr-3187	102	34	tend	tend	VERB
fsr-3187	102	35	to	to	PART
fsr-3187	102	36	invest	invest	VERB
fsr-3187	102	37	in	in	ADP
fsr-3187	102	38	a	a	DET
fsr-3187	102	39	few	few	ADJ
fsr-3187	102	40	large	large	ADJ
fsr-3187	102	41	-	-	PUNCT
fsr-3187	102	42	cap	cap	NOUN
fsr-3187	102	43	stocks	stock	NOUN
fsr-3187	102	44	and	and	CCONJ
fsr-3187	102	45	a	a	DET
fsr-3187	102	46	large	large	ADJ
fsr-3187	102	47	proportion	proportion	NOUN
fsr-3187	102	48	of	of	ADP
fsr-3187	102	49	funds	fund	NOUN
fsr-3187	102	50	is	be	AUX
fsr-3187	102	51	invested	invest	VERB
fsr-3187	102	52	in	in	ADP
fsr-3187	102	53	small	small	ADJ
fsr-3187	102	54	-	-	PUNCT
fsr-3187	102	55	cap	cap	NOUN
fsr-3187	102	56	stocks	stock	NOUN
fsr-3187	102	57	.	.	PUNCT
fsr-3187	103	1	the	the	DET
fsr-3187	103	2	highest	high	ADJ
fsr-3187	103	3	number	number	NOUN
fsr-3187	103	4	of	of	ADP
fsr-3187	103	5	funds	fund	NOUN
fsr-3187	103	6	is	be	AUX
fsr-3187	103	7	found	find	VERB
fsr-3187	103	8	in	in	ADP
fsr-3187	103	9	year	year	NOUN
fsr-3187	103	10	2007	2007	NUM
fsr-3187	103	11	and	and	CCONJ
fsr-3187	103	12	the	the	DET
fsr-3187	103	13	lowest	low	ADJ
fsr-3187	103	14	in	in	ADP
fsr-3187	103	15	year	year	NOUN
fsr-3187	103	16	2000	2000	NUM
fsr-3187	103	17	.	.	PUNCT
fsr-3187	104	1	on	on	ADP
fsr-3187	104	2	average	average	ADJ
fsr-3187	104	3	,	,	PUNCT
fsr-3187	104	4	101	101	NUM
fsr-3187	104	5	funds	fund	NOUN
fsr-3187	104	6	existed	exist	VERB
fsr-3187	104	7	per	per	ADP
fsr-3187	104	8	year	year	NOUN
fsr-3187	104	9	over	over	ADP
fsr-3187	104	10	the	the	DET
fsr-3187	104	11	12	12	NUM
fsr-3187	104	12	year	year	NOUN
fsr-3187	104	13	period	period	NOUN
fsr-3187	104	14	.	.	PUNCT
fsr-3187	105	1	81a	81a	NOUN
fsr-3187	105	2	.	.	PUNCT
fsr-3187	106	1	kaushik	kaushik	PROPN
fsr-3187	106	2	et	et	PROPN
fsr-3187	106	3	al	al	PROPN
fsr-3187	106	4	.	.	PUNCT
fsr-3187	106	5	/	/	SYM
fsr-3187	106	6	financial	financial	ADJ
fsr-3187	106	7	services	service	NOUN
fsr-3187	106	8	review	review	VERB
fsr-3187	106	9	23	23	NUM
fsr-3187	106	10	(	(	PUNCT
fsr-3187	106	11	2014	2014	NUM
fsr-3187	106	12	)	)	PUNCT
fsr-3187	106	13	77–91	77–91	NUM
fsr-3187	106	14	4	4	NUM
fsr-3187	106	15	.	.	PUNCT
fsr-3187	106	16	methodology	methodology	NOUN
fsr-3187	106	17	the	the	DET
fsr-3187	106	18	sharpe	sharpe	PROPN
fsr-3187	106	19	(	(	PUNCT
fsr-3187	106	20	1964	1964	NUM
fsr-3187	106	21	)	)	PUNCT
fsr-3187	106	22	capital	capital	NOUN
fsr-3187	106	23	asset	asset	NOUN
fsr-3187	106	24	pricing	pricing	NOUN
fsr-3187	106	25	model	model	NOUN
fsr-3187	106	26	(	(	PUNCT
fsr-3187	106	27	capm	capm	PROPN
fsr-3187	106	28	)	)	PUNCT
fsr-3187	106	29	is	be	AUX
fsr-3187	106	30	the	the	DET
fsr-3187	106	31	commonly	commonly	ADV
fsr-3187	106	32	used	use	VERB
fsr-3187	106	33	model	model	NOUN
fsr-3187	106	34	to	to	ADP
fsr-3187	106	35	price	price	NOUN
fsr-3187	106	36	assets	asset	NOUN
fsr-3187	106	37	.	.	PUNCT
fsr-3187	107	1	the	the	DET
fsr-3187	107	2	capm	capm	PROPN
fsr-3187	107	3	states	state	VERB
fsr-3187	107	4	that	that	SCONJ
fsr-3187	107	5	in	in	ADP
fsr-3187	107	6	equilibrium	equilibrium	NOUN
fsr-3187	107	7	,	,	PUNCT
fsr-3187	107	8	expected	expect	VERB
fsr-3187	107	9	returns	return	NOUN
fsr-3187	107	10	are	be	AUX
fsr-3187	107	11	linearly	linearly	ADV
fsr-3187	107	12	related	relate	VERB
fsr-3187	107	13	to	to	ADP
fsr-3187	107	14	their	their	PRON
fsr-3187	107	15	level	level	NOUN
fsr-3187	107	16	of	of	ADP
fsr-3187	107	17	risk	risk	NOUN
fsr-3187	107	18	,	,	PUNCT
fsr-3187	107	19	more	more	ADV
fsr-3187	107	20	specifically	specifically	ADV
fsr-3187	107	21	,	,	PUNCT
fsr-3187	107	22	their	their	PRON
fsr-3187	107	23	!	!	PUNCT
fsr-3187	107	24	or	or	CCONJ
fsr-3187	107	25	systematic	systematic	ADJ
fsr-3187	107	26	risk	risk	NOUN
fsr-3187	107	27	.	.	PUNCT
fsr-3187	108	1	many	many	ADJ
fsr-3187	108	2	tests	test	NOUN
fsr-3187	108	3	and	and	CCONJ
fsr-3187	108	4	models	model	NOUN
fsr-3187	108	5	have	have	AUX
fsr-3187	108	6	been	be	AUX
fsr-3187	108	7	developed	develop	VERB
fsr-3187	108	8	over	over	ADP
fsr-3187	108	9	the	the	DET
fsr-3187	108	10	years	year	NOUN
fsr-3187	108	11	to	to	PART
fsr-3187	108	12	measure	measure	VERB
fsr-3187	108	13	performance	performance	NOUN
fsr-3187	108	14	of	of	ADP
fsr-3187	108	15	the	the	DET
fsr-3187	108	16	mutual	mutual	ADJ
fsr-3187	108	17	funds	fund	NOUN
fsr-3187	108	18	/	/	SYM
fsr-3187	108	19	funds	fund	NOUN
fsr-3187	108	20	’	'	PUNCT
fsr-3187	108	21	managers	manager	NOUN
fsr-3187	108	22	.	.	PUNCT
fsr-3187	109	1	jensen	jensen	PROPN
fsr-3187	109	2	’s	’s	PART
fsr-3187	109	3	(	(	PUNCT
fsr-3187	109	4	1968	1968	NUM
fsr-3187	109	5	)	)	PUNCT
fsr-3187	109	6	"	"	PUNCT
fsr-3187	109	7	is	be	AUX
fsr-3187	109	8	perhaps	perhaps	ADV
fsr-3187	109	9	the	the	DET
fsr-3187	109	10	best	well	ADV
fsr-3187	109	11	known	know	VERB
fsr-3187	109	12	primary	primary	ADJ
fsr-3187	109	13	model	model	NOUN
fsr-3187	109	14	.	.	PUNCT
fsr-3187	110	1	rit	rit	PROPN
fsr-3187	110	2	#	#	PROPN
fsr-3187	110	3	rft	rft	NOUN
fsr-3187	110	4	$	$	NOUN
fsr-3187	110	5	"	"	PUNCT
fsr-3187	110	6	i	i	PRON
fsr-3187	110	7	%	%	VERB
fsr-3187	110	8	!	!	PUNCT
fsr-3187	111	1	i	i	PRON
fsr-3187	111	2	!	!	PUNCT
fsr-3187	112	1	rmrft	rmrft	NOUN
fsr-3187	112	2	%	%	NOUN
fsr-3187	112	3	&	&	CCONJ
fsr-3187	112	4	i	i	PROPN
fsr-3187	112	5	,	,	PUNCT
fsr-3187	112	6	t	t	PROPN
fsr-3187	112	7	(	(	PUNCT
fsr-3187	112	8	1	1	NUM
fsr-3187	112	9	)	)	PUNCT
fsr-3187	112	10	where	where	SCONJ
fsr-3187	112	11	:	:	PUNCT
fsr-3187	112	12	rit	rit	PROPN
fsr-3187	112	13	#	#	PROPN
fsr-3187	112	14	rft	rft	NOUN
fsr-3187	112	15	is	be	AUX
fsr-3187	112	16	the	the	DET
fsr-3187	112	17	excess	excess	ADJ
fsr-3187	112	18	return	return	NOUN
fsr-3187	112	19	on	on	ADP
fsr-3187	112	20	fund	fund	NOUN
fsr-3187	112	21	i	i	PRON
fsr-3187	112	22	over	over	ADP
fsr-3187	112	23	the	the	DET
fsr-3187	112	24	monthly	monthly	ADJ
fsr-3187	112	25	treasury	treasury	NOUN
fsr-3187	112	26	bill	bill	NOUN
fsr-3187	112	27	rate	rate	NOUN
fsr-3187	112	28	,	,	PUNCT
fsr-3187	112	29	"	"	PUNCT
fsr-3187	112	30	i	i	PRON
fsr-3187	112	31	is	be	AUX
fsr-3187	112	32	the	the	DET
fsr-3187	112	33	measure	measure	NOUN
fsr-3187	112	34	of	of	ADP
fsr-3187	112	35	the	the	DET
fsr-3187	112	36	portfolio	portfolio	NOUN
fsr-3187	112	37	’s	’s	PART
fsr-3187	112	38	performance	performance	NOUN
fsr-3187	112	39	(	(	PUNCT
fsr-3187	112	40	jensen	jensen	PROPN
fsr-3187	112	41	’s	’s	PART
fsr-3187	112	42	"	"	PUNCT
fsr-3187	112	43	)	)	PUNCT
fsr-3187	112	44	,	,	PUNCT
fsr-3187	112	45	rmrft	rmrft	VERB
fsr-3187	112	46	$	$	SYM
fsr-3187	112	47	rmt	rmt	NOUN
fsr-3187	112	48	#	#	NOUN
fsr-3187	112	49	rft	rft	NOUN
fsr-3187	112	50	is	be	AUX
fsr-3187	112	51	the	the	DET
fsr-3187	112	52	excess	excess	ADJ
fsr-3187	112	53	return	return	NOUN
fsr-3187	112	54	on	on	ADP
fsr-3187	112	55	the	the	DET
fsr-3187	112	56	market	market	NOUN
fsr-3187	112	57	(	(	PUNCT
fsr-3187	112	58	crsp	crsp	PROPN
fsr-3187	112	59	value	value	NOUN
fsr-3187	112	60	weighted	weight	VERB
fsr-3187	112	61	index	index	NOUN
fsr-3187	112	62	)	)	PUNCT
fsr-3187	112	63	,	,	PUNCT
fsr-3187	112	64	and	and	CCONJ
fsr-3187	112	65	!	!	PUNCT
fsr-3187	113	1	i	i	PRON
fsr-3187	113	2	$	$	PROPN
fsr-3187	113	3	is	be	AUX
fsr-3187	113	4	the	the	DET
fsr-3187	113	5	unconditional	unconditional	ADJ
fsr-3187	113	6	measure	measure	NOUN
fsr-3187	113	7	of	of	ADP
fsr-3187	113	8	risk	risk	NOUN
fsr-3187	113	9	.	.	PUNCT
fsr-3187	114	1	existing	exist	VERB
fsr-3187	114	2	research	research	NOUN
fsr-3187	114	3	indicates	indicate	VERB
fsr-3187	114	4	that	that	SCONJ
fsr-3187	114	5	returns	return	NOUN
fsr-3187	114	6	on	on	ADP
fsr-3187	114	7	equities	equity	NOUN
fsr-3187	114	8	are	be	AUX
fsr-3187	114	9	heavily	heavily	ADV
fsr-3187	114	10	influenced	influence	VERB
fsr-3187	114	11	by	by	ADP
fsr-3187	114	12	size	size	NOUN
fsr-3187	114	13	,	,	PUNCT
fsr-3187	114	14	growth	growth	NOUN
fsr-3187	114	15	factor	factor	NOUN
fsr-3187	114	16	,	,	PUNCT
fsr-3187	114	17	and	and	CCONJ
fsr-3187	114	18	past	past	ADJ
fsr-3187	114	19	returns	return	NOUN
fsr-3187	114	20	besides	besides	SCONJ
fsr-3187	114	21	market	market	NOUN
fsr-3187	114	22	risk	risk	NOUN
fsr-3187	114	23	premium	premium	NOUN
fsr-3187	114	24	and	and	CCONJ
fsr-3187	114	25	these	these	DET
fsr-3187	114	26	factors	factor	NOUN
fsr-3187	114	27	are	be	AUX
fsr-3187	114	28	commonly	commonly	ADV
fsr-3187	114	29	known	know	VERB
fsr-3187	114	30	as	as	ADP
fsr-3187	114	31	the	the	DET
fsr-3187	114	32	ff	ff	NOUN
fsr-3187	114	33	factors	factor	NOUN
fsr-3187	114	34	and	and	CCONJ
fsr-3187	114	35	the	the	DET
fsr-3187	114	36	carhart	carhart	NOUN
fsr-3187	114	37	momentum	momentum	NOUN
fsr-3187	114	38	factor	factor	NOUN
fsr-3187	114	39	.	.	PUNCT
fsr-3187	115	1	to	to	PART
fsr-3187	115	2	control	control	VERB
fsr-3187	115	3	any	any	DET
fsr-3187	115	4	biases	bias	NOUN
fsr-3187	115	5	that	that	PRON
fsr-3187	115	6	may	may	AUX
fsr-3187	115	7	inflate	inflate	VERB
fsr-3187	115	8	!	!	PUNCT
fsr-3187	116	1	loading	loading	NOUN
fsr-3187	116	2	of	of	ADP
fsr-3187	116	3	the	the	DET
fsr-3187	116	4	market	market	NOUN
fsr-3187	116	5	factor	factor	NOUN
fsr-3187	116	6	,	,	PUNCT
fsr-3187	116	7	we	we	PRON
fsr-3187	116	8	estimated	estimate	VERB
fsr-3187	116	9	the	the	DET
fsr-3187	116	10	four	four	NUM
fsr-3187	116	11	-	-	PUNCT
fsr-3187	116	12	factor	factor	NOUN
fsr-3187	116	13	model	model	NOUN
fsr-3187	116	14	of	of	ADP
fsr-3187	116	15	carhart	carhart	NOUN
fsr-3187	116	16	(	(	PUNCT
fsr-3187	116	17	1997	1997	NUM
fsr-3187	116	18	)	)	PUNCT
fsr-3187	116	19	,	,	PUNCT
fsr-3187	116	20	which	which	PRON
fsr-3187	116	21	table	table	VERB
fsr-3187	116	22	1	1	NUM
fsr-3187	116	23	descriptive	descriptive	ADJ
fsr-3187	116	24	statistics	statistic	NOUN
fsr-3187	116	25	year	year	NOUN
fsr-3187	116	26	annual	annual	ADJ
fsr-3187	116	27	turnover	turnover	NOUN
fsr-3187	116	28	ratio	ratio	NOUN
fsr-3187	116	29	(	(	PUNCT
fsr-3187	116	30	%	%	INTJ
fsr-3187	116	31	)	)	PUNCT
fsr-3187	116	32	cash	cash	NOUN
fsr-3187	116	33	(	(	PUNCT
fsr-3187	116	34	%	%	NOUN
fsr-3187	116	35	)	)	PUNCT
fsr-3187	116	36	equity	equity	NOUN
fsr-3187	116	37	(	(	PUNCT
fsr-3187	116	38	%	%	INTJ
fsr-3187	116	39	)	)	PUNCT
fsr-3187	116	40	top	top	NOUN
fsr-3187	116	41	(	(	PUNCT
fsr-3187	116	42	%	%	INTJ
fsr-3187	116	43	)	)	PUNCT
fsr-3187	116	44	expense	expense	NOUN
fsr-3187	116	45	ratio	ratio	NOUN
fsr-3187	116	46	(	(	PUNCT
fsr-3187	116	47	%	%	INTJ
fsr-3187	116	48	)	)	PUNCT
fsr-3187	116	49	tna	tna	NOUN
fsr-3187	116	50	(	(	PUNCT
fsr-3187	116	51	in	in	ADP
fsr-3187	116	52	$	$	SYM
fsr-3187	116	53	million	million	NUM
fsr-3187	116	54	)	)	PUNCT
fsr-3187	116	55	average	average	ADJ
fsr-3187	116	56	market	market	NOUN
fsr-3187	116	57	cap	cap	NOUN
fsr-3187	116	58	(	(	PUNCT
fsr-3187	116	59	in	in	ADP
fsr-3187	116	60	$	$	SYM
fsr-3187	116	61	million	million	NUM
fsr-3187	116	62	)	)	PUNCT
fsr-3187	116	63	manager	manager	NOUN
fsr-3187	116	64	tenure	tenure	NOUN
fsr-3187	116	65	(	(	PUNCT
fsr-3187	116	66	in	in	ADP
fsr-3187	116	67	years	year	NOUN
fsr-3187	116	68	)	)	PUNCT
fsr-3187	116	69	n	n	CCONJ
fsr-3187	116	70	2000	2000	NUM
fsr-3187	116	71	583.40	583.40	NUM
fsr-3187	116	72	5.35	5.35	NUM
fsr-3187	116	73	94.30	94.30	NUM
fsr-3187	116	74	43.20	43.20	NUM
fsr-3187	116	75	1.75	1.75	NUM
fsr-3187	116	76	358.00	358.00	NUM
fsr-3187	116	77	13,160.42	13,160.42	NUM
fsr-3187	116	78	6.09	6.09	NUM
fsr-3187	116	79	79	79	NUM
fsr-3187	116	80	2001	2001	NUM
fsr-3187	116	81	271.30	271.30	NUM
fsr-3187	116	82	4.18	4.18	NUM
fsr-3187	116	83	95.28	95.28	NUM
fsr-3187	116	84	44.87	44.87	NUM
fsr-3187	116	85	1.72	1.72	NUM
fsr-3187	116	86	188.70	188.70	NUM
fsr-3187	116	87	16,453.96	16,453.96	NUM
fsr-3187	116	88	6.10	6.10	NUM
fsr-3187	116	89	95	95	NUM
fsr-3187	116	90	2002	2002	NUM
fsr-3187	116	91	284.95	284.95	NUM
fsr-3187	116	92	4.14	4.14	NUM
fsr-3187	116	93	93.49	93.49	NUM
fsr-3187	116	94	46.41	46.41	NUM
fsr-3187	116	95	1.91	1.91	NUM
fsr-3187	116	96	141.55	141.55	NUM
fsr-3187	116	97	13,178.22	13,178.22	NUM
fsr-3187	116	98	6.14	6.14	NUM
fsr-3187	116	99	106	106	NUM
fsr-3187	116	100	2003	2003	NUM
fsr-3187	116	101	361.08	361.08	NUM
fsr-3187	116	102	4.10	4.10	NUM
fsr-3187	116	103	95.61	95.61	NUM
fsr-3187	116	104	41.22	41.22	NUM
fsr-3187	116	105	1.98	1.98	NUM
fsr-3187	116	106	123.05	123.05	NUM
fsr-3187	116	107	10,738.15	10,738.15	NUM
fsr-3187	116	108	6.07	6.07	NUM
fsr-3187	116	109	105	105	NUM
fsr-3187	116	110	2004	2004	NUM
fsr-3187	116	111	195.02	195.02	NUM
fsr-3187	116	112	3.03	3.03	NUM
fsr-3187	116	113	96.85	96.85	NUM
fsr-3187	116	114	41.44	41.44	NUM
fsr-3187	116	115	1.93	1.93	NUM
fsr-3187	116	116	139.98	139.98	NUM
fsr-3187	116	117	13,617.64	13,617.64	NUM
fsr-3187	116	118	6.00	6.00	NUM
fsr-3187	116	119	108	108	NUM
fsr-3187	116	120	2005	2005	NUM
fsr-3187	116	121	166.90	166.90	NUM
fsr-3187	116	122	3.42	3.42	NUM
fsr-3187	116	123	96.45	96.45	NUM
fsr-3187	116	124	44.64	44.64	NUM
fsr-3187	116	125	1.87	1.87	NUM
fsr-3187	116	126	154.41	154.41	NUM
fsr-3187	116	127	16,720.19	16,720.19	NUM
fsr-3187	116	128	5.96	5.96	NUM
fsr-3187	116	129	110	110	NUM
fsr-3187	116	130	2006	2006	NUM
fsr-3187	116	131	124.59	124.59	NUM
fsr-3187	116	132	3.39	3.39	NUM
fsr-3187	116	133	96.37	96.37	NUM
fsr-3187	116	134	44.58	44.58	NUM
fsr-3187	116	135	1.83	1.83	NUM
fsr-3187	116	136	159.33	159.33	NUM
fsr-3187	116	137	16,598.92	16,598.92	NUM
fsr-3187	116	138	6.08	6.08	NUM
fsr-3187	116	139	111	111	NUM
fsr-3187	116	140	2007	2007	NUM
fsr-3187	116	141	128.78	128.78	NUM
fsr-3187	116	142	2.95	2.95	NUM
fsr-3187	116	143	96.45	96.45	NUM
fsr-3187	116	144	45.48	45.48	NUM
fsr-3187	116	145	1.82	1.82	NUM
fsr-3187	116	146	150.67	150.67	NUM
fsr-3187	116	147	17,675.78	17,675.78	NUM
fsr-3187	116	148	6.07	6.07	NUM
fsr-3187	116	149	112	112	NUM
fsr-3187	116	150	2008	2008	NUM
fsr-3187	116	151	137.50	137.50	NUM
fsr-3187	116	152	4.58	4.58	NUM
fsr-3187	116	153	94.83	94.83	NUM
fsr-3187	116	154	47.60	47.60	NUM
fsr-3187	116	155	1.81	1.81	NUM
fsr-3187	116	156	138.69	138.69	NUM
fsr-3187	116	157	16,874.75	16,874.75	NUM
fsr-3187	116	158	6.12	6.12	NUM
fsr-3187	116	159	110	110	NUM
fsr-3187	116	160	2009	2009	NUM
fsr-3187	116	161	207.71	207.71	NUM
fsr-3187	116	162	3.61	3.61	NUM
fsr-3187	116	163	95.44	95.44	NUM
fsr-3187	116	164	46.23	46.23	NUM
fsr-3187	116	165	1.88	1.88	NUM
fsr-3187	116	166	121.41	121.41	NUM
fsr-3187	116	167	14,182.13	14,182.13	NUM
fsr-3187	116	168	6.11	6.11	NUM
fsr-3187	116	169	103	103	NUM
fsr-3187	116	170	2010	2010	NUM
fsr-3187	116	171	171.37	171.37	NUM
fsr-3187	116	172	3.17	3.17	NUM
fsr-3187	116	173	95.95	95.95	NUM
fsr-3187	116	174	44.56	44.56	NUM
fsr-3187	116	175	1.81	1.81	NUM
fsr-3187	116	176	148.96	148.96	NUM
fsr-3187	116	177	12,288.87	12,288.87	NUM
fsr-3187	116	178	6.07	6.07	NUM
fsr-3187	116	179	88	88	NUM
fsr-3187	116	180	2011	2011	NUM
fsr-3187	116	181	167.61	167.61	NUM
fsr-3187	116	182	4.37	4.37	NUM
fsr-3187	116	183	94.71	94.71	NUM
fsr-3187	116	184	42.16	42.16	NUM
fsr-3187	116	185	1.73	1.73	NUM
fsr-3187	116	186	197.30	197.30	NUM
fsr-3187	116	187	13,321.17	13,321.17	NUM
fsr-3187	116	188	6.36	6.36	NUM
fsr-3187	116	189	87	87	NUM
fsr-3187	116	190	average	average	NOUN
fsr-3187	116	191	233.35	233.35	NUM
fsr-3187	116	192	3.86	3.86	NUM
fsr-3187	116	193	95.48	95.48	NUM
fsr-3187	116	194	44.37	44.37	NUM
fsr-3187	116	195	1.84	1.84	NUM
fsr-3187	116	196	168.50	168.50	NUM
fsr-3187	116	197	14,567.52	14,567.52	NUM
fsr-3187	116	198	6.10	6.10	NUM
fsr-3187	116	199	101	101	NUM
fsr-3187	116	200	note	note	NOUN
fsr-3187	116	201	.	.	PUNCT
fsr-3187	117	1	table	table	NOUN
fsr-3187	117	2	1	1	NUM
fsr-3187	117	3	shows	show	VERB
fsr-3187	117	4	the	the	DET
fsr-3187	117	5	mean	mean	ADJ
fsr-3187	117	6	values	value	NOUN
fsr-3187	117	7	of	of	ADP
fsr-3187	117	8	fund	fund	NOUN
fsr-3187	117	9	specific	specific	ADJ
fsr-3187	117	10	variables	variable	NOUN
fsr-3187	117	11	per	per	ADP
fsr-3187	117	12	year	year	NOUN
fsr-3187	117	13	over	over	ADP
fsr-3187	117	14	the	the	DET
fsr-3187	117	15	period	period	NOUN
fsr-3187	117	16	01/2000	01/2000	NUM
fsr-3187	117	17	to	to	ADP
fsr-3187	117	18	12/2011	12/2011	NUM
fsr-3187	117	19	.	.	PUNCT
fsr-3187	118	1	turnover	turnover	NOUN
fsr-3187	118	2	ratio	ratio	NOUN
fsr-3187	118	3	is	be	AUX
fsr-3187	118	4	the	the	DET
fsr-3187	118	5	minimum	minimum	NOUN
fsr-3187	118	6	of	of	ADP
fsr-3187	118	7	aggregated	aggregate	VERB
fsr-3187	118	8	sales	sale	NOUN
fsr-3187	118	9	or	or	CCONJ
fsr-3187	118	10	aggregated	aggregate	VERB
fsr-3187	118	11	purchases	purchase	NOUN
fsr-3187	118	12	of	of	ADP
fsr-3187	118	13	securities	security	NOUN
fsr-3187	118	14	divided	divide	VERB
fsr-3187	118	15	by	by	ADP
fsr-3187	118	16	the	the	DET
fsr-3187	118	17	average	average	ADJ
fsr-3187	118	18	12	12	NUM
fsr-3187	118	19	-	-	PUNCT
fsr-3187	118	20	month	month	NOUN
fsr-3187	118	21	total	total	ADJ
fsr-3187	118	22	net	net	ADJ
fsr-3187	118	23	assets	asset	NOUN
fsr-3187	118	24	of	of	ADP
fsr-3187	118	25	the	the	DET
fsr-3187	118	26	fund	fund	NOUN
fsr-3187	118	27	,	,	PUNCT
fsr-3187	118	28	cash	cash	NOUN
fsr-3187	118	29	is	be	AUX
fsr-3187	118	30	the	the	DET
fsr-3187	118	31	average	average	ADJ
fsr-3187	118	32	percentage	percentage	NOUN
fsr-3187	118	33	of	of	ADP
fsr-3187	118	34	investment	investment	NOUN
fsr-3187	118	35	held	hold	VERB
fsr-3187	118	36	as	as	ADP
fsr-3187	118	37	cash	cash	NOUN
fsr-3187	118	38	,	,	PUNCT
fsr-3187	118	39	equity	equity	NOUN
fsr-3187	118	40	is	be	AUX
fsr-3187	118	41	the	the	DET
fsr-3187	118	42	average	average	ADJ
fsr-3187	118	43	percentage	percentage	NOUN
fsr-3187	118	44	of	of	ADP
fsr-3187	118	45	investment	investment	NOUN
fsr-3187	118	46	in	in	ADP
fsr-3187	118	47	common	common	ADJ
fsr-3187	118	48	stocks	stock	NOUN
fsr-3187	118	49	,	,	PUNCT
fsr-3187	118	50	top	top	NOUN
fsr-3187	118	51	is	be	AUX
fsr-3187	118	52	the	the	DET
fsr-3187	118	53	fund	fund	NOUN
fsr-3187	118	54	’s	’s	PART
fsr-3187	118	55	percentage	percentage	NOUN
fsr-3187	118	56	of	of	ADP
fsr-3187	118	57	investment	investment	NOUN
fsr-3187	118	58	in	in	ADP
fsr-3187	118	59	top	top	ADJ
fsr-3187	118	60	10	10	NUM
fsr-3187	118	61	%	%	NOUN
fsr-3187	118	62	holdings	holding	NOUN
fsr-3187	118	63	,	,	PUNCT
fsr-3187	118	64	expense	expense	NOUN
fsr-3187	118	65	ratio	ratio	NOUN
fsr-3187	118	66	is	be	AUX
fsr-3187	118	67	the	the	DET
fsr-3187	118	68	average	average	ADJ
fsr-3187	118	69	expense	expense	NOUN
fsr-3187	118	70	ratio	ratio	NOUN
fsr-3187	118	71	charged	charge	VERB
fsr-3187	118	72	by	by	ADP
fsr-3187	118	73	the	the	DET
fsr-3187	118	74	fund	fund	NOUN
fsr-3187	118	75	,	,	PUNCT
fsr-3187	118	76	tna	tna	PROPN
fsr-3187	118	77	is	be	AUX
fsr-3187	118	78	the	the	DET
fsr-3187	118	79	average	average	ADJ
fsr-3187	118	80	annual	annual	ADJ
fsr-3187	118	81	net	net	ADJ
fsr-3187	118	82	assets	asset	NOUN
fsr-3187	118	83	under	under	ADP
fsr-3187	118	84	management	management	NOUN
fsr-3187	118	85	,	,	PUNCT
fsr-3187	118	86	average	average	ADJ
fsr-3187	118	87	market	market	NOUN
fsr-3187	118	88	cap	cap	NOUN
fsr-3187	118	89	is	be	AUX
fsr-3187	118	90	average	average	ADJ
fsr-3187	118	91	market	market	NOUN
fsr-3187	118	92	value	value	NOUN
fsr-3187	118	93	of	of	ADP
fsr-3187	118	94	a	a	DET
fsr-3187	118	95	fund	fund	NOUN
fsr-3187	118	96	’s	’s	PART
fsr-3187	118	97	holdings	holding	NOUN
fsr-3187	118	98	,	,	PUNCT
fsr-3187	118	99	manager	manager	NOUN
fsr-3187	118	100	tenure	tenure	NOUN
fsr-3187	118	101	is	be	AUX
fsr-3187	118	102	the	the	DET
fsr-3187	118	103	average	average	ADJ
fsr-3187	118	104	manager	manager	NOUN
fsr-3187	118	105	tenure	tenure	NOUN
fsr-3187	118	106	of	of	ADP
fsr-3187	118	107	the	the	DET
fsr-3187	118	108	fund	fund	NOUN
fsr-3187	118	109	manager	manager	NOUN
fsr-3187	118	110	and	and	CCONJ
fsr-3187	118	111	n	n	NOUN
fsr-3187	118	112	is	be	AUX
fsr-3187	118	113	the	the	DET
fsr-3187	118	114	number	number	NOUN
fsr-3187	118	115	of	of	ADP
fsr-3187	118	116	funds	fund	NOUN
fsr-3187	118	117	per	per	ADP
fsr-3187	118	118	year	year	NOUN
fsr-3187	118	119	.	.	PUNCT
fsr-3187	119	1	82	82	NUM
fsr-3187	119	2	a.	a.	NOUN
fsr-3187	119	3	kaushik	kaushik	PROPN
fsr-3187	119	4	et	et	PROPN
fsr-3187	119	5	al	al	PROPN
fsr-3187	119	6	.	.	PUNCT
fsr-3187	119	7	/	/	SYM
fsr-3187	119	8	financial	financial	ADJ
fsr-3187	119	9	services	service	NOUN
fsr-3187	119	10	review	review	VERB
fsr-3187	119	11	23	23	NUM
fsr-3187	119	12	(	(	PUNCT
fsr-3187	119	13	2014	2014	NUM
fsr-3187	119	14	)	)	PUNCT
fsr-3187	119	15	77–91	77–91	NUM
fsr-3187	119	16	adjusts	adjust	VERB
fsr-3187	119	17	fund	fund	NOUN
fsr-3187	119	18	excess	excess	ADJ
fsr-3187	119	19	return	return	NOUN
fsr-3187	119	20	for	for	ADP
fsr-3187	119	21	the	the	DET
fsr-3187	119	22	ff	ff	PROPN
fsr-3187	119	23	factors	factor	NOUN
fsr-3187	119	24	smb	smb	PROPN
fsr-3187	119	25	,	,	PUNCT
fsr-3187	119	26	hml	hml	PROPN
fsr-3187	119	27	,	,	PUNCT
fsr-3187	119	28	and	and	CCONJ
fsr-3187	119	29	the	the	DET
fsr-3187	119	30	carhart	carhart	NOUN
fsr-3187	119	31	’s	’s	PART
fsr-3187	119	32	momentum	momentum	NOUN
fsr-3187	119	33	factor	factor	NOUN
fsr-3187	119	34	.	.	PUNCT
fsr-3187	120	1	rit	rit	PROPN
fsr-3187	120	2	#	#	PROPN
fsr-3187	120	3	rft	rft	NOUN
fsr-3187	120	4	$	$	NOUN
fsr-3187	120	5	"	"	PUNCT
fsr-3187	120	6	i	i	PRON
fsr-3187	120	7	%	%	VERB
fsr-3187	120	8	!	!	PUNCT
fsr-3187	121	1	1i	1i	NOUN
fsr-3187	121	2	!	!	PUNCT
fsr-3187	122	1	rmrft	rmrft	NOUN
fsr-3187	122	2	%	%	NOUN
fsr-3187	122	3	!	!	PUNCT
fsr-3187	123	1	2i	2i	NOUN
fsr-3187	123	2	!	!	PUNCT
fsr-3187	124	1	smbt	smbt	NOUN
fsr-3187	124	2	%	%	INTJ
fsr-3187	124	3	!	!	PUNCT
fsr-3187	125	1	3i	3i	NOUN
fsr-3187	125	2	!	!	PUNCT
fsr-3187	126	1	hmlt	hmlt	ADJ
fsr-3187	126	2	%	%	INTJ
fsr-3187	126	3	!	!	PUNCT
fsr-3187	127	1	4i	4i	NOUN
fsr-3187	127	2	!	!	PUNCT
fsr-3187	128	1	momt	momt	ADJ
fsr-3187	128	2	%	%	NOUN
fsr-3187	128	3	&	&	CCONJ
fsr-3187	128	4	i	i	PROPN
fsr-3187	128	5	,	,	PUNCT
fsr-3187	128	6	t	t	PROPN
fsr-3187	128	7	(	(	PUNCT
fsr-3187	128	8	2	2	NUM
fsr-3187	128	9	)	)	PUNCT
fsr-3187	128	10	where	where	SCONJ
fsr-3187	128	11	:	:	PUNCT
fsr-3187	128	12	rmrft	rmrft	NOUN
fsr-3187	128	13	is	be	AUX
fsr-3187	128	14	the	the	DET
fsr-3187	128	15	excess	excess	ADJ
fsr-3187	128	16	monthly	monthly	ADJ
fsr-3187	128	17	return	return	NOUN
fsr-3187	128	18	(	(	PUNCT
fsr-3187	128	19	market	market	NOUN
fsr-3187	128	20	return	return	NOUN
fsr-3187	128	21	net	net	NOUN
fsr-3187	128	22	of	of	ADP
fsr-3187	128	23	one	one	NUM
fsr-3187	128	24	month	month	NOUN
fsr-3187	128	25	t	t	PROPN
fsr-3187	128	26	-	-	PUNCT
fsr-3187	128	27	bill	bill	NOUN
fsr-3187	128	28	return	return	NOUN
fsr-3187	128	29	)	)	PUNCT
fsr-3187	128	30	on	on	ADP
fsr-3187	128	31	the	the	DET
fsr-3187	128	32	crsp	crsp	PROPN
fsr-3187	128	33	value	value	NOUN
fsr-3187	128	34	weighted	weight	VERB
fsr-3187	128	35	index	index	NOUN
fsr-3187	128	36	smbt	smbt	NOUN
fsr-3187	128	37	is	be	AUX
fsr-3187	128	38	the	the	DET
fsr-3187	128	39	difference	difference	NOUN
fsr-3187	128	40	in	in	ADP
fsr-3187	128	41	returns	return	NOUN
fsr-3187	128	42	between	between	ADP
fsr-3187	128	43	small	small	ADJ
fsr-3187	128	44	and	and	CCONJ
fsr-3187	128	45	large	large	ADJ
fsr-3187	128	46	capitalization	capitalization	NOUN
fsr-3187	128	47	stocks	stock	NOUN
fsr-3187	128	48	hmlt	hmlt	ADJ
fsr-3187	128	49	is	be	AUX
fsr-3187	128	50	the	the	DET
fsr-3187	128	51	difference	difference	NOUN
fsr-3187	128	52	in	in	ADP
fsr-3187	128	53	returns	return	NOUN
fsr-3187	128	54	between	between	ADP
fsr-3187	128	55	high	high	ADJ
fsr-3187	128	56	and	and	CCONJ
fsr-3187	128	57	low	low	ADJ
fsr-3187	128	58	book	book	NOUN
fsr-3187	128	59	-	-	PUNCT
fsr-3187	128	60	to	to	ADP
fsr-3187	128	61	-	-	PUNCT
fsr-3187	128	62	market	market	NOUN
fsr-3187	128	63	stocks	stock	NOUN
fsr-3187	128	64	momt	momt	ADV
fsr-3187	128	65	is	be	AUX
fsr-3187	128	66	the	the	DET
fsr-3187	128	67	difference	difference	NOUN
fsr-3187	128	68	in	in	ADP
fsr-3187	128	69	returns	return	NOUN
fsr-3187	128	70	between	between	ADP
fsr-3187	128	71	stocks	stock	NOUN
fsr-3187	128	72	with	with	ADP
fsr-3187	128	73	high	high	ADJ
fsr-3187	128	74	and	and	CCONJ
fsr-3187	128	75	low	low	ADJ
fsr-3187	128	76	past	past	ADJ
fsr-3187	128	77	returns	return	NOUN
fsr-3187	128	78	the	the	DET
fsr-3187	128	79	use	use	NOUN
fsr-3187	128	80	of	of	ADP
fsr-3187	128	81	ff	ff	NOUN
fsr-3187	128	82	factors	factor	NOUN
fsr-3187	128	83	is	be	AUX
fsr-3187	128	84	significant	significant	ADJ
fsr-3187	128	85	for	for	ADP
fsr-3187	128	86	this	this	DET
fsr-3187	128	87	research	research	NOUN
fsr-3187	128	88	as	as	ADP
fsr-3187	128	89	table	table	NOUN
fsr-3187	128	90	1	1	NUM
fsr-3187	128	91	shows	show	VERB
fsr-3187	128	92	that	that	SCONJ
fsr-3187	128	93	most	most	ADJ
fsr-3187	128	94	of	of	ADP
fsr-3187	128	95	the	the	DET
fsr-3187	128	96	sample	sample	NOUN
fsr-3187	128	97	funds	fund	NOUN
fsr-3187	128	98	are	be	AUX
fsr-3187	128	99	small	small	ADJ
fsr-3187	128	100	in	in	ADP
fsr-3187	128	101	size	size	NOUN
fsr-3187	128	102	and	and	CCONJ
fsr-3187	128	103	because	because	SCONJ
fsr-3187	128	104	of	of	ADP
fsr-3187	128	105	the	the	DET
fsr-3187	128	106	narrow	narrow	ADJ
fsr-3187	128	107	focus	focus	NOUN
fsr-3187	128	108	inbuilt	inbuilt	ADJ
fsr-3187	128	109	in	in	ADP
fsr-3187	128	110	our	our	PRON
fsr-3187	128	111	sample	sample	NOUN
fsr-3187	128	112	funds	fund	NOUN
fsr-3187	128	113	,	,	PUNCT
fsr-3187	128	114	book	book	NOUN
fsr-3187	128	115	-	-	PUNCT
fsr-3187	128	116	to	to	ADP
fsr-3187	128	117	-	-	PUNCT
fsr-3187	128	118	market	market	NOUN
fsr-3187	128	119	and	and	CCONJ
fsr-3187	128	120	momentum	momentum	NOUN
fsr-3187	128	121	should	should	AUX
fsr-3187	128	122	play	play	VERB
fsr-3187	128	123	an	an	DET
fsr-3187	128	124	important	important	ADJ
fsr-3187	128	125	role	role	NOUN
fsr-3187	128	126	in	in	ADP
fsr-3187	128	127	explaining	explain	VERB
fsr-3187	128	128	excess	excess	ADJ
fsr-3187	128	129	returns	return	NOUN
fsr-3187	128	130	and	and	CCONJ
fsr-3187	128	131	abnormal	abnormal	ADJ
fsr-3187	128	132	performance	performance	NOUN
fsr-3187	128	133	of	of	ADP
fsr-3187	128	134	these	these	DET
fsr-3187	128	135	funds	fund	NOUN
fsr-3187	128	136	.	.	PUNCT
fsr-3187	129	1	monthly	monthly	ADJ
fsr-3187	129	2	smbt	smbt	NOUN
fsr-3187	129	3	,	,	PUNCT
fsr-3187	129	4	hmlt	hmlt	NOUN
fsr-3187	129	5	,	,	PUNCT
fsr-3187	129	6	and	and	CCONJ
fsr-3187	129	7	momt	momt	ADJ
fsr-3187	129	8	factors	factor	NOUN
fsr-3187	129	9	are	be	AUX
fsr-3187	129	10	taken	take	VERB
fsr-3187	129	11	from	from	ADP
fsr-3187	129	12	the	the	DET
fsr-3187	129	13	kenneth	kenneth	PROPN
fsr-3187	129	14	french	french	PROPN
fsr-3187	129	15	web	web	NOUN
fsr-3187	129	16	site	site	NOUN
fsr-3187	129	17	.	.	PUNCT
fsr-3187	130	1	4.1	4.1	NUM
fsr-3187	130	2	.	.	PUNCT
fsr-3187	130	3	persistence	persistence	NOUN
fsr-3187	130	4	of	of	ADP
fsr-3187	130	5	performance	performance	NOUN
fsr-3187	130	6	in	in	ADP
fsr-3187	130	7	this	this	DET
fsr-3187	130	8	section	section	NOUN
fsr-3187	130	9	,	,	PUNCT
fsr-3187	130	10	we	we	PRON
fsr-3187	130	11	evaluate	evaluate	VERB
fsr-3187	130	12	whether	whether	SCONJ
fsr-3187	130	13	past	past	ADJ
fsr-3187	130	14	winners	winner	NOUN
fsr-3187	130	15	can	can	AUX
fsr-3187	130	16	continue	continue	VERB
fsr-3187	130	17	to	to	PART
fsr-3187	130	18	outperform	outperform	VERB
fsr-3187	130	19	in	in	ADP
fsr-3187	130	20	the	the	DET
fsr-3187	130	21	subsequent	subsequent	ADJ
fsr-3187	130	22	period(s	period(s	NOUN
fsr-3187	130	23	)	)	PUNCT
fsr-3187	130	24	and	and	CCONJ
fsr-3187	130	25	past	past	ADJ
fsr-3187	130	26	losers	loser	NOUN
fsr-3187	130	27	continue	continue	VERB
fsr-3187	130	28	to	to	PART
fsr-3187	130	29	poorly	poorly	ADV
fsr-3187	130	30	perform	perform	VERB
fsr-3187	130	31	in	in	ADP
fsr-3187	130	32	the	the	DET
fsr-3187	130	33	subsequent	subsequent	ADJ
fsr-3187	130	34	period(s	period(s	NOUN
fsr-3187	130	35	)	)	PUNCT
fsr-3187	130	36	.	.	PUNCT
fsr-3187	131	1	if	if	SCONJ
fsr-3187	131	2	this	this	PRON
fsr-3187	131	3	is	be	AUX
fsr-3187	131	4	true	true	ADJ
fsr-3187	131	5	then	then	ADV
fsr-3187	131	6	investors	investor	NOUN
fsr-3187	131	7	and	and	CCONJ
fsr-3187	131	8	fund	fund	NOUN
fsr-3187	131	9	managers	manager	NOUN
fsr-3187	131	10	can	can	AUX
fsr-3187	131	11	definitely	definitely	ADV
fsr-3187	131	12	take	take	VERB
fsr-3187	131	13	advantage	advantage	NOUN
fsr-3187	131	14	of	of	ADP
fsr-3187	131	15	a	a	DET
fsr-3187	131	16	continuous	continuous	ADJ
fsr-3187	131	17	trend	trend	NOUN
fsr-3187	131	18	to	to	ADP
fsr-3187	131	19	their	their	PRON
fsr-3187	131	20	favor	favor	NOUN
fsr-3187	131	21	.	.	PUNCT
fsr-3187	132	1	similar	similar	ADJ
fsr-3187	132	2	to	to	ADP
fsr-3187	132	3	existing	exist	VERB
fsr-3187	132	4	research	research	NOUN
fsr-3187	132	5	(	(	PUNCT
fsr-3187	132	6	e.g.	e.g.	ADV
fsr-3187	132	7	,	,	PUNCT
fsr-3187	132	8	berk	berk	PROPN
fsr-3187	132	9	and	and	CCONJ
fsr-3187	132	10	green	green	ADJ
fsr-3187	132	11	,	,	PUNCT
fsr-3187	132	12	2004	2004	NUM
fsr-3187	132	13	;	;	PUNCT
fsr-3187	132	14	carhart	carhart	NOUN
fsr-3187	132	15	,	,	PUNCT
fsr-3187	132	16	1997	1997	NUM
fsr-3187	132	17	;	;	PUNCT
fsr-3187	132	18	saap	saap	PROPN
fsr-3187	132	19	and	and	CCONJ
fsr-3187	132	20	tiwari	tiwari	PROPN
fsr-3187	132	21	,	,	PUNCT
fsr-3187	132	22	2004	2004	NUM
fsr-3187	132	23	)	)	PUNCT
fsr-3187	132	24	,	,	PUNCT
fsr-3187	132	25	at	at	ADP
fsr-3187	132	26	the	the	DET
fsr-3187	132	27	beginning	beginning	NOUN
fsr-3187	132	28	of	of	ADP
fsr-3187	132	29	each	each	DET
fsr-3187	132	30	year	year	NOUN
fsr-3187	132	31	starting	start	VERB
fsr-3187	132	32	from	from	ADP
fsr-3187	132	33	2001	2001	NUM
fsr-3187	132	34	,	,	PUNCT
fsr-3187	132	35	we	we	PRON
fsr-3187	132	36	divided	divide	VERB
fsr-3187	132	37	funds	fund	NOUN
fsr-3187	132	38	into	into	ADP
fsr-3187	132	39	quintiles	quintile	NOUN
fsr-3187	132	40	based	base	VERB
fsr-3187	132	41	on	on	ADP
fsr-3187	132	42	their	their	PRON
fsr-3187	132	43	previous	previous	ADJ
fsr-3187	132	44	year	year	NOUN
fsr-3187	132	45	’s	’s	PART
fsr-3187	132	46	returns	return	NOUN
fsr-3187	132	47	.	.	PUNCT
fsr-3187	133	1	at	at	ADP
fsr-3187	133	2	the	the	DET
fsr-3187	133	3	beginning	beginning	NOUN
fsr-3187	133	4	of	of	ADP
fsr-3187	133	5	each	each	DET
fsr-3187	133	6	year	year	NOUN
fsr-3187	133	7	,	,	PUNCT
fsr-3187	133	8	funds	fund	NOUN
fsr-3187	133	9	are	be	AUX
fsr-3187	133	10	ranked	rank	VERB
fsr-3187	133	11	by	by	ADP
fsr-3187	133	12	their	their	PRON
fsr-3187	133	13	annual	annual	ADJ
fsr-3187	133	14	returns	return	NOUN
fsr-3187	133	15	in	in	ADP
fsr-3187	133	16	the	the	DET
fsr-3187	133	17	previous	previous	ADJ
fsr-3187	133	18	year	year	NOUN
fsr-3187	133	19	and	and	CCONJ
fsr-3187	133	20	quintiles	quintile	NOUN
fsr-3187	133	21	are	be	AUX
fsr-3187	133	22	formed	form	VERB
fsr-3187	133	23	.	.	PUNCT
fsr-3187	134	1	funds	fund	NOUN
fsr-3187	134	2	in	in	ADP
fsr-3187	134	3	the	the	DET
fsr-3187	134	4	bottom	bottom	ADJ
fsr-3187	134	5	20th	20th	ADJ
fsr-3187	134	6	percentile	percentile	ADJ
fsr-3187	134	7	returns	return	NOUN
fsr-3187	134	8	(	(	PUNCT
fsr-3187	134	9	q1	q1	NOUN
fsr-3187	134	10	also	also	ADV
fsr-3187	134	11	labeled	label	VERB
fsr-3187	134	12	as	as	ADP
fsr-3187	134	13	“	"	PUNCT
fsr-3187	134	14	losers	loser	NOUN
fsr-3187	134	15	”	"	PUNCT
fsr-3187	134	16	)	)	PUNCT
fsr-3187	134	17	are	be	AUX
fsr-3187	134	18	clustered	cluster	VERB
fsr-3187	134	19	together	together	ADV
fsr-3187	134	20	as	as	ADP
fsr-3187	134	21	one	one	NUM
fsr-3187	134	22	group	group	NOUN
fsr-3187	134	23	whereas	whereas	SCONJ
fsr-3187	134	24	funds	fund	NOUN
fsr-3187	134	25	in	in	ADP
fsr-3187	134	26	the	the	DET
fsr-3187	134	27	top	top	ADJ
fsr-3187	134	28	20th	20th	ADJ
fsr-3187	134	29	percentile	percentile	ADJ
fsr-3187	134	30	returns	return	NOUN
fsr-3187	134	31	(	(	PUNCT
fsr-3187	134	32	q5	q5	PROPN
fsr-3187	134	33	also	also	ADV
fsr-3187	134	34	labeled	label	VERB
fsr-3187	134	35	as	as	ADP
fsr-3187	134	36	“	"	PUNCT
fsr-3187	134	37	winners	winner	NOUN
fsr-3187	134	38	”	"	PUNCT
fsr-3187	134	39	)	)	PUNCT
fsr-3187	134	40	are	be	AUX
fsr-3187	134	41	grouped	group	VERB
fsr-3187	134	42	together	together	ADV
fsr-3187	134	43	.	.	PUNCT
fsr-3187	135	1	because	because	SCONJ
fsr-3187	135	2	funds	fund	NOUN
fsr-3187	135	3	’	'	PUNCT
fsr-3187	135	4	performance	performance	NOUN
fsr-3187	135	5	may	may	AUX
fsr-3187	135	6	change	change	VERB
fsr-3187	135	7	every	every	DET
fsr-3187	135	8	year	year	NOUN
fsr-3187	135	9	,	,	PUNCT
fsr-3187	135	10	therefore	therefore	ADV
fsr-3187	135	11	,	,	PUNCT
fsr-3187	135	12	q1	q1	PROPN
fsr-3187	135	13	and	and	CCONJ
fsr-3187	135	14	q5	q5	PROPN
fsr-3187	135	15	are	be	AUX
fsr-3187	135	16	rebalanced	rebalance	VERB
fsr-3187	135	17	every	every	DET
fsr-3187	135	18	year	year	NOUN
fsr-3187	135	19	.	.	PUNCT
fsr-3187	136	1	every	every	DET
fsr-3187	136	2	year	year	NOUN
fsr-3187	136	3	,	,	PUNCT
fsr-3187	136	4	beginning	begin	VERB
fsr-3187	136	5	of	of	ADP
fsr-3187	136	6	the	the	DET
fsr-3187	136	7	year	year	NOUN
fsr-3187	136	8	,	,	PUNCT
fsr-3187	136	9	same	same	ADJ
fsr-3187	136	10	step	step	NOUN
fsr-3187	136	11	is	be	AUX
fsr-3187	136	12	repeated	repeat	VERB
fsr-3187	136	13	and	and	CCONJ
fsr-3187	136	14	two	two	NUM
fsr-3187	136	15	series	serie	NOUN
fsr-3187	136	16	are	be	AUX
fsr-3187	136	17	formed	form	VERB
fsr-3187	136	18	over	over	ADP
fsr-3187	136	19	the	the	DET
fsr-3187	136	20	2000–2011	2000–2011	NUM
fsr-3187	136	21	period	period	NOUN
fsr-3187	136	22	where	where	SCONJ
fsr-3187	136	23	2000	2000	NUM
fsr-3187	136	24	is	be	AUX
fsr-3187	136	25	the	the	DET
fsr-3187	136	26	first	first	ADJ
fsr-3187	136	27	formation	formation	NOUN
fsr-3187	136	28	period	period	NOUN
fsr-3187	136	29	and	and	CCONJ
fsr-3187	136	30	2011	2011	NUM
fsr-3187	136	31	is	be	AUX
fsr-3187	136	32	the	the	DET
fsr-3187	136	33	last	last	ADJ
fsr-3187	136	34	estimation	estimation	NOUN
fsr-3187	136	35	year	year	NOUN
fsr-3187	136	36	.	.	PUNCT
fsr-3187	137	1	we	we	PRON
fsr-3187	137	2	use	use	VERB
fsr-3187	137	3	eq	eq	ADP
fsr-3187	137	4	.	.	PUNCT
fsr-3187	138	1	(	(	PUNCT
fsr-3187	138	2	2	2	NUM
fsr-3187	138	3	)	)	PUNCT
fsr-3187	138	4	to	to	PART
fsr-3187	138	5	estimate	estimate	VERB
fsr-3187	138	6	"	"	PUNCT
fsr-3187	138	7	of	of	ADP
fsr-3187	138	8	q1	q1	PROPN
fsr-3187	138	9	and	and	CCONJ
fsr-3187	138	10	q5	q5	PROPN
fsr-3187	138	11	to	to	PART
fsr-3187	138	12	evaluate	evaluate	VERB
fsr-3187	138	13	the	the	DET
fsr-3187	138	14	persistence	persistence	NOUN
fsr-3187	138	15	effect	effect	NOUN
fsr-3187	138	16	of	of	ADP
fsr-3187	138	17	past	past	ADJ
fsr-3187	138	18	losers	loser	NOUN
fsr-3187	138	19	and	and	CCONJ
fsr-3187	138	20	winners	winner	NOUN
fsr-3187	138	21	.	.	PUNCT
fsr-3187	139	1	4.2	4.2	NUM
fsr-3187	139	2	.	.	PUNCT
fsr-3187	140	1	cross	cross	ADJ
fsr-3187	140	2	-	-	ADJ
fsr-3187	140	3	section	section	ADJ
fsr-3187	140	4	analysis	analysis	NOUN
fsr-3187	140	5	existing	exist	VERB
fsr-3187	140	6	research	research	NOUN
fsr-3187	140	7	(	(	PUNCT
fsr-3187	140	8	e.g.	e.g.	ADV
fsr-3187	140	9	,	,	PUNCT
fsr-3187	140	10	carhart	carhart	NOUN
fsr-3187	140	11	,	,	PUNCT
fsr-3187	140	12	1997	1997	NUM
fsr-3187	140	13	;	;	PUNCT
fsr-3187	140	14	chan	chan	PROPN
fsr-3187	140	15	et	et	PROPN
fsr-3187	140	16	al	al	PROPN
fsr-3187	140	17	.	.	PROPN
fsr-3187	140	18	,	,	PUNCT
fsr-3187	140	19	2004	2004	NUM
fsr-3187	140	20	;	;	PUNCT
fsr-3187	140	21	wermers	wermer	NOUN
fsr-3187	140	22	,	,	PUNCT
fsr-3187	140	23	2000	2000	NUM
fsr-3187	140	24	,	,	PUNCT
fsr-3187	140	25	2003	2003	NUM
fsr-3187	140	26	among	among	ADP
fsr-3187	140	27	others	other	NOUN
fsr-3187	140	28	)	)	PUNCT
fsr-3187	140	29	has	have	AUX
fsr-3187	140	30	shown	show	VERB
fsr-3187	140	31	that	that	SCONJ
fsr-3187	140	32	a	a	DET
fsr-3187	140	33	fund	fund	NOUN
fsr-3187	140	34	’s	’s	PART
fsr-3187	140	35	abnormal	abnormal	ADJ
fsr-3187	140	36	performance	performance	NOUN
fsr-3187	140	37	is	be	AUX
fsr-3187	140	38	heavily	heavily	ADV
fsr-3187	140	39	affected	affect	VERB
fsr-3187	140	40	by	by	ADP
fsr-3187	140	41	its	its	PRON
fsr-3187	140	42	attributes	attribute	NOUN
fsr-3187	140	43	such	such	ADJ
fsr-3187	140	44	as	as	ADP
fsr-3187	140	45	expense	expense	NOUN
fsr-3187	140	46	ratio	ratio	NOUN
fsr-3187	140	47	,	,	PUNCT
fsr-3187	140	48	turnover	turnover	NOUN
fsr-3187	140	49	ratio	ratio	NOUN
fsr-3187	140	50	,	,	PUNCT
fsr-3187	140	51	size	size	NOUN
fsr-3187	140	52	,	,	PUNCT
fsr-3187	140	53	investment	investment	NOUN
fsr-3187	140	54	in	in	ADP
fsr-3187	140	55	best	good	ADJ
fsr-3187	140	56	ideas	idea	NOUN
fsr-3187	140	57	,	,	PUNCT
fsr-3187	140	58	cash	cash	NOUN
fsr-3187	140	59	holdings	holding	NOUN
fsr-3187	140	60	,	,	PUNCT
fsr-3187	140	61	to	to	PART
fsr-3187	140	62	name	name	VERB
fsr-3187	140	63	a	a	DET
fsr-3187	140	64	few	few	ADJ
fsr-3187	140	65	.	.	PUNCT
fsr-3187	141	1	moreover	moreover	ADV
fsr-3187	141	2	,	,	PUNCT
fsr-3187	141	3	it	it	PRON
fsr-3187	141	4	is	be	AUX
fsr-3187	141	5	also	also	ADV
fsr-3187	141	6	a	a	DET
fsr-3187	141	7	known	known	ADJ
fsr-3187	141	8	fact	fact	NOUN
fsr-3187	141	9	that	that	SCONJ
fsr-3187	141	10	funds	fund	NOUN
fsr-3187	141	11	differ	differ	VERB
fsr-3187	141	12	from	from	ADP
fsr-3187	141	13	each	each	DET
fsr-3187	141	14	other	other	ADJ
fsr-3187	141	15	in	in	ADP
fsr-3187	141	16	terms	term	NOUN
fsr-3187	141	17	of	of	ADP
fsr-3187	141	18	their	their	PRON
fsr-3187	141	19	attributes	attribute	NOUN
fsr-3187	141	20	;	;	PUNCT
fsr-3187	141	21	therefore	therefore	ADV
fsr-3187	141	22	,	,	PUNCT
fsr-3187	141	23	cross	cross	ADJ
fsr-3187	141	24	-	-	ADJ
fsr-3187	141	25	sectional	sectional	ADJ
fsr-3187	141	26	analysis	analysis	NOUN
fsr-3187	141	27	plays	play	VERB
fsr-3187	141	28	a	a	DET
fsr-3187	141	29	significant	significant	ADJ
fsr-3187	141	30	role	role	NOUN
fsr-3187	141	31	in	in	ADP
fsr-3187	141	32	explaining	explain	VERB
fsr-3187	141	33	the	the	DET
fsr-3187	141	34	average	average	ADJ
fsr-3187	141	35	abnormal	abnormal	ADJ
fsr-3187	141	36	performance	performance	NOUN
fsr-3187	141	37	of	of	ADP
fsr-3187	141	38	a	a	DET
fsr-3187	141	39	portfolio	portfolio	NOUN
fsr-3187	141	40	of	of	ADP
fsr-3187	141	41	different	different	ADJ
fsr-3187	141	42	funds	fund	NOUN
fsr-3187	141	43	.	.	PUNCT
fsr-3187	142	1	finally	finally	ADV
fsr-3187	142	2	,	,	PUNCT
fsr-3187	142	3	funds	fund	NOUN
fsr-3187	142	4	may	may	AUX
fsr-3187	142	5	have	have	VERB
fsr-3187	142	6	uneven	uneven	ADJ
fsr-3187	142	7	number	number	NOUN
fsr-3187	142	8	of	of	ADP
fsr-3187	142	9	observations	observation	NOUN
fsr-3187	142	10	,	,	PUNCT
fsr-3187	142	11	that	that	ADV
fsr-3187	142	12	is	is	ADV
fsr-3187	142	13	,	,	PUNCT
fsr-3187	142	14	some	some	DET
fsr-3187	142	15	funds	fund	NOUN
fsr-3187	142	16	might	might	AUX
fsr-3187	142	17	have	have	AUX
fsr-3187	142	18	existed	exist	VERB
fsr-3187	142	19	the	the	DET
fsr-3187	142	20	entire	entire	ADJ
fsr-3187	142	21	period	period	NOUN
fsr-3187	142	22	of	of	ADP
fsr-3187	142	23	the	the	DET
fsr-3187	142	24	study	study	NOUN
fsr-3187	142	25	83a	83a	NOUN
fsr-3187	142	26	.	.	PUNCT
fsr-3187	143	1	kaushik	kaushik	PROPN
fsr-3187	143	2	et	et	PROPN
fsr-3187	143	3	al	al	PROPN
fsr-3187	143	4	.	.	PUNCT
fsr-3187	143	5	/	/	SYM
fsr-3187	143	6	financial	financial	ADJ
fsr-3187	143	7	services	service	NOUN
fsr-3187	143	8	review	review	VERB
fsr-3187	143	9	23	23	NUM
fsr-3187	143	10	(	(	PUNCT
fsr-3187	143	11	2014	2014	NUM
fsr-3187	143	12	)	)	PUNCT
fsr-3187	143	13	77–91	77–91	NUM
fsr-3187	143	14	whereas	whereas	SCONJ
fsr-3187	143	15	some	some	DET
fsr-3187	143	16	others	other	NOUN
fsr-3187	143	17	may	may	AUX
fsr-3187	143	18	have	have	VERB
fsr-3187	143	19	shorter	short	ADJ
fsr-3187	143	20	life	life	NOUN
fsr-3187	143	21	span	span	NOUN
fsr-3187	143	22	.	.	PUNCT
fsr-3187	144	1	to	to	PART
fsr-3187	144	2	avoid	avoid	VERB
fsr-3187	144	3	any	any	DET
fsr-3187	144	4	bias	bias	NOUN
fsr-3187	144	5	from	from	ADP
fsr-3187	144	6	the	the	DET
fsr-3187	144	7	funds	fund	NOUN
fsr-3187	144	8	with	with	ADP
fsr-3187	144	9	more	more	ADJ
fsr-3187	144	10	observations	observation	NOUN
fsr-3187	144	11	than	than	ADP
fsr-3187	144	12	others	other	NOUN
fsr-3187	144	13	,	,	PUNCT
fsr-3187	144	14	we	we	PRON
fsr-3187	144	15	follow	follow	VERB
fsr-3187	144	16	the	the	DET
fsr-3187	144	17	existing	exist	VERB
fsr-3187	144	18	literature	literature	NOUN
fsr-3187	144	19	and	and	CCONJ
fsr-3187	144	20	use	use	VERB
fsr-3187	144	21	fama	fama	NOUN
fsr-3187	144	22	and	and	CCONJ
fsr-3187	144	23	macbeth	macbeth	PROPN
fsr-3187	144	24	(	(	PUNCT
fsr-3187	144	25	1973	1973	NUM
fsr-3187	144	26	)	)	PUNCT
fsr-3187	144	27	methodology	methodology	NOUN
fsr-3187	144	28	to	to	PART
fsr-3187	144	29	estimate	estimate	VERB
fsr-3187	144	30	the	the	DET
fsr-3187	144	31	cross	cross	ADJ
fsr-3187	144	32	-	-	ADJ
fsr-3187	144	33	sectional	sectional	ADJ
fsr-3187	144	34	effects	effect	NOUN
fsr-3187	144	35	of	of	ADP
fsr-3187	144	36	fund	fund	NOUN
fsr-3187	144	37	specific	specific	ADJ
fsr-3187	144	38	attributes	attribute	NOUN
fsr-3187	144	39	on	on	ADP
fsr-3187	144	40	funds	fund	NOUN
fsr-3187	144	41	’	'	PUNCT
fsr-3187	144	42	"	"	PUNCT
fsr-3187	144	43	.	.	PUNCT
fsr-3187	145	1	under	under	ADP
fsr-3187	145	2	fama	fama	PROPN
fsr-3187	145	3	and	and	CCONJ
fsr-3187	145	4	macbeth	macbeth	ADJ
fsr-3187	145	5	methodology	methodology	NOUN
fsr-3187	145	6	,	,	PUNCT
fsr-3187	145	7	the	the	DET
fsr-3187	145	8	entire	entire	ADJ
fsr-3187	145	9	data	datum	NOUN
fsr-3187	145	10	are	be	AUX
fsr-3187	145	11	divided	divide	VERB
fsr-3187	145	12	by	by	ADP
fsr-3187	145	13	time	time	NOUN
fsr-3187	145	14	period	period	NOUN
fsr-3187	145	15	(	(	PUNCT
fsr-3187	145	16	months	month	NOUN
fsr-3187	145	17	in	in	ADP
fsr-3187	145	18	our	our	PRON
fsr-3187	145	19	study	study	NOUN
fsr-3187	145	20	)	)	PUNCT
fsr-3187	145	21	and	and	CCONJ
fsr-3187	145	22	"	"	PUNCT
fsr-3187	145	23	and	and	CCONJ
fsr-3187	145	24	!	!	PUNCT
fsr-3187	146	1	s	s	VERB
fsr-3187	146	2	of	of	ADP
fsr-3187	146	3	each	each	DET
fsr-3187	146	4	period	period	NOUN
fsr-3187	146	5	are	be	AUX
fsr-3187	146	6	estimated	estimate	VERB
fsr-3187	146	7	.	.	PUNCT
fsr-3187	147	1	the	the	DET
fsr-3187	147	2	average	average	NOUN
fsr-3187	147	3	of	of	ADP
fsr-3187	147	4	all	all	DET
fsr-3187	147	5	the	the	DET
fsr-3187	147	6	monthly	monthly	ADJ
fsr-3187	147	7	"	"	PUNCT
fsr-3187	147	8	s	s	X
fsr-3187	147	9	and	and	CCONJ
fsr-3187	147	10	!	!	PUNCT
fsr-3187	147	11	s	s	PART
fsr-3187	147	12	is	be	AUX
fsr-3187	147	13	the	the	DET
fsr-3187	147	14	portfolio	portfolio	NOUN
fsr-3187	147	15	’s	’s	PART
fsr-3187	147	16	cross	cross	ADJ
fsr-3187	147	17	-	-	ADJ
fsr-3187	147	18	sectional	sectional	ADJ
fsr-3187	147	19	"	"	PUNCT
fsr-3187	147	20	and	and	CCONJ
fsr-3187	147	21	!	!	PUNCT
fsr-3187	147	22	s	s	PART
fsr-3187	147	23	as	as	SCONJ
fsr-3187	147	24	opposed	oppose	VERB
fsr-3187	147	25	to	to	ADP
fsr-3187	147	26	the	the	DET
fsr-3187	147	27	average	average	NOUN
fsr-3187	147	28	of	of	ADP
fsr-3187	147	29	"	"	PUNCT
fsr-3187	147	30	s	s	X
fsr-3187	147	31	and	and	CCONJ
fsr-3187	147	32	!	!	PUNCT
fsr-3187	148	1	s	s	VERB
fsr-3187	148	2	of	of	ADP
fsr-3187	148	3	individual	individual	ADJ
fsr-3187	148	4	funds	fund	NOUN
fsr-3187	148	5	.	.	PUNCT
fsr-3187	149	1	we	we	PRON
fsr-3187	149	2	follow	follow	VERB
fsr-3187	149	3	existing	exist	VERB
fsr-3187	149	4	research	research	NOUN
fsr-3187	149	5	(	(	PUNCT
fsr-3187	149	6	e.g.	e.g.	ADV
fsr-3187	149	7	,	,	PUNCT
fsr-3187	149	8	brown	brown	ADJ
fsr-3187	149	9	,	,	PUNCT
fsr-3187	149	10	harlow	harlow	NOUN
fsr-3187	149	11	,	,	PUNCT
fsr-3187	149	12	and	and	CCONJ
fsr-3187	149	13	starks	stark	NOUN
fsr-3187	149	14	,	,	PUNCT
fsr-3187	149	15	1996	1996	NUM
fsr-3187	149	16	;	;	PUNCT
fsr-3187	149	17	carhart	carhart	NOUN
fsr-3187	149	18	,	,	PUNCT
fsr-3187	149	19	1997	1997	NUM
fsr-3187	149	20	;	;	PUNCT
fsr-3187	149	21	wermers	wermer	NOUN
fsr-3187	149	22	,	,	PUNCT
fsr-3187	149	23	2000	2000	NUM
fsr-3187	149	24	among	among	ADP
fsr-3187	149	25	others	other	NOUN
fsr-3187	149	26	)	)	PUNCT
fsr-3187	149	27	to	to	PART
fsr-3187	149	28	estimate	estimate	VERB
fsr-3187	149	29	dependent	dependent	ADJ
fsr-3187	149	30	variable	variable	NOUN
fsr-3187	149	31	"	"	PUNCT
fsr-3187	149	32	by	by	ADP
fsr-3187	149	33	using	use	VERB
fsr-3187	149	34	the	the	DET
fsr-3187	149	35	following	follow	VERB
fsr-3187	149	36	model	model	NOUN
fsr-3187	149	37	.	.	PUNCT
fsr-3187	150	1	"	"	PUNCT
fsr-3187	150	2	it	it	PRON
fsr-3187	150	3	$	$	SYM
fsr-3187	150	4	rit	rit	NOUN
fsr-3187	150	5	#	#	NOUN
fsr-3187	150	6	rft	rft	NOUN
fsr-3187	150	7	#	#	NOUN
fsr-3187	150	8	!	!	PUNCT
fsr-3187	150	9	̃1it	̃1it	PROPN
fsr-3187	150	10	!	!	PUNCT
fsr-3187	151	1	rmrft	rmrft	VERB
fsr-3187	151	2	%	%	NOUN
fsr-3187	151	3	!	!	PUNCT
fsr-3187	152	1	̃2it	̃2it	NOUN
fsr-3187	152	2	!	!	PUNCT
fsr-3187	153	1	smbt	smbt	NOUN
fsr-3187	153	2	%	%	INTJ
fsr-3187	153	3	!	!	PUNCT
fsr-3187	154	1	̃3it	̃3it	PROPN
fsr-3187	154	2	!	!	PUNCT
fsr-3187	155	1	hmlt	hmlt	PROPN
fsr-3187	155	2	%	%	INTJ
fsr-3187	155	3	!	!	PUNCT
fsr-3187	155	4	̃4it	̃4it	X
fsr-3187	155	5	!	!	PUNCT
fsr-3187	156	1	momt	momt	INTJ
fsr-3187	156	2	(	(	PUNCT
fsr-3187	156	3	3	3	NUM
fsr-3187	156	4	)	)	PUNCT
fsr-3187	156	5	!	!	PUNCT
fsr-3187	157	1	̃1it	̃1it	PROPN
fsr-3187	157	2	!	!	PUNCT
fsr-3187	157	3	.	.	PUNCT
fsr-3187	157	4	.	.	PUNCT
fsr-3187	157	5	.	.	PUNCT
fsr-3187	157	6	!	!	PUNCT
fsr-3187	158	1	̃4it	̃4it	PROPN
fsr-3187	158	2	are	be	AUX
fsr-3187	159	1	the	the	DET
fsr-3187	159	2	!	!	PUNCT
fsr-3187	159	3	loading	loading	NOUN
fsr-3187	159	4	estimated	estimate	VERB
fsr-3187	159	5	using	use	VERB
fsr-3187	159	6	eq	eq	X
fsr-3187	159	7	.	.	PUNCT
fsr-3187	160	1	(	(	PUNCT
fsr-3187	160	2	2	2	NUM
fsr-3187	160	3	)	)	PUNCT
fsr-3187	160	4	.	.	PUNCT
fsr-3187	161	1	once	once	ADV
fsr-3187	161	2	"	"	PUNCT
fsr-3187	161	3	s	s	VERB
fsr-3187	161	4	are	be	AUX
fsr-3187	161	5	estimated	estimate	VERB
fsr-3187	161	6	by	by	ADP
fsr-3187	161	7	using	use	VERB
fsr-3187	161	8	eq	eq	ADP
fsr-3187	161	9	.	.	PUNCT
fsr-3187	162	1	(	(	PUNCT
fsr-3187	162	2	3	3	NUM
fsr-3187	162	3	)	)	PUNCT
fsr-3187	162	4	then	then	ADV
fsr-3187	162	5	we	we	PRON
fsr-3187	162	6	use	use	VERB
fsr-3187	162	7	these	these	DET
fsr-3187	162	8	"	"	PUNCT
fsr-3187	162	9	s	s	NOUN
fsr-3187	162	10	as	as	ADP
fsr-3187	162	11	the	the	DET
fsr-3187	162	12	dependent	dependent	ADJ
fsr-3187	162	13	variable	variable	NOUN
fsr-3187	162	14	and	and	CCONJ
fsr-3187	162	15	apply	apply	VERB
fsr-3187	162	16	fama	fama	NOUN
fsr-3187	162	17	and	and	CCONJ
fsr-3187	162	18	macbeth	macbeth	PROPN
fsr-3187	162	19	(	(	PUNCT
fsr-3187	162	20	1973	1973	NUM
fsr-3187	162	21	)	)	PUNCT
fsr-3187	162	22	to	to	PART
fsr-3187	162	23	estimate	estimate	VERB
fsr-3187	162	24	the	the	DET
fsr-3187	162	25	cross	cross	ADJ
fsr-3187	162	26	-	-	ADJ
fsr-3187	162	27	sectional	sectional	ADJ
fsr-3187	162	28	effects	effect	NOUN
fsr-3187	162	29	of	of	ADP
fsr-3187	162	30	fund	fund	NOUN
fsr-3187	162	31	specific	specific	ADJ
fsr-3187	162	32	attributes	attribute	NOUN
fsr-3187	162	33	on	on	ADP
fsr-3187	162	34	funds	fund	NOUN
fsr-3187	162	35	’	'	PUNCT
fsr-3187	162	36	abnormal	abnormal	ADJ
fsr-3187	162	37	performance	performance	NOUN
fsr-3187	162	38	.	.	PUNCT
fsr-3187	163	1	we	we	PRON
fsr-3187	163	2	use	use	VERB
fsr-3187	163	3	the	the	DET
fsr-3187	163	4	following	follow	VERB
fsr-3187	163	5	model	model	NOUN
fsr-3187	163	6	to	to	PART
fsr-3187	163	7	estimate	estimate	VERB
fsr-3187	163	8	the	the	DET
fsr-3187	163	9	impact	impact	NOUN
fsr-3187	163	10	of	of	ADP
fsr-3187	163	11	cross	cross	ADJ
fsr-3187	163	12	-	-	ADJ
fsr-3187	163	13	sectional	sectional	ADJ
fsr-3187	163	14	effects	effect	NOUN
fsr-3187	163	15	.	.	PUNCT
fsr-3187	164	1	"	"	PUNCT
fsr-3187	164	2	it	it	PRON
fsr-3187	164	3	$	$	SYM
fsr-3187	164	4	!	!	NOUN
fsr-3187	164	5	0	0	NUM
fsr-3187	165	1	%	%	NOUN
fsr-3187	165	2	!	!	PUNCT
fsr-3187	165	3	1	1	NUM
fsr-3187	165	4	expense	expense	NOUN
fsr-3187	165	5	ratioit	ratioit	NOUN
fsr-3187	165	6	%	%	NOUN
fsr-3187	165	7	!	!	PUNCT
fsr-3187	165	8	2	2	NUM
fsr-3187	165	9	turnoverit	turnoverit	NOUN
fsr-3187	165	10	%	%	NOUN
fsr-3187	165	11	!	!	PUNCT
fsr-3187	165	12	3	3	NUM
fsr-3187	166	1	sizeit	sizeit	ADJ
fsr-3187	166	2	%	%	NOUN
fsr-3187	166	3	!	!	PUNCT
fsr-3187	167	1	4	4	NUM
fsr-3187	167	2	topit	topit	NOUN
fsr-3187	167	3	%	%	NOUN
fsr-3187	167	4	!	!	PUNCT
fsr-3187	167	5	5	5	NUM
fsr-3187	168	1	tenureit	tenureit	NOUN
fsr-3187	168	2	%	%	NOUN
fsr-3187	168	3	!	!	PUNCT
fsr-3187	168	4	6	6	NUM
fsr-3187	168	5	cashit	cashit	PROPN
fsr-3187	168	6	%	%	NOUN
fsr-3187	168	7	&	&	CCONJ
fsr-3187	168	8	it	it	PRON
fsr-3187	168	9	where	where	SCONJ
fsr-3187	168	10	:	:	PUNCT
fsr-3187	168	11	expense	expense	NOUN
fsr-3187	168	12	ratio	ratio	NOUN
fsr-3187	168	13	is	be	AUX
fsr-3187	168	14	the	the	DET
fsr-3187	168	15	average	average	ADJ
fsr-3187	168	16	expense	expense	NOUN
fsr-3187	168	17	ratio	ratio	NOUN
fsr-3187	168	18	charged	charge	VERB
fsr-3187	168	19	by	by	ADP
fsr-3187	168	20	the	the	DET
fsr-3187	168	21	fund	fund	NOUN
fsr-3187	168	22	turnover	turnover	NOUN
fsr-3187	168	23	ratio	ratio	NOUN
fsr-3187	168	24	is	be	AUX
fsr-3187	168	25	the	the	DET
fsr-3187	168	26	minimum	minimum	NOUN
fsr-3187	168	27	of	of	ADP
fsr-3187	168	28	aggregated	aggregate	VERB
fsr-3187	168	29	sales	sale	NOUN
fsr-3187	168	30	or	or	CCONJ
fsr-3187	168	31	aggregated	aggregate	VERB
fsr-3187	168	32	purchases	purchase	NOUN
fsr-3187	168	33	of	of	ADP
fsr-3187	168	34	securities	security	NOUN
fsr-3187	168	35	divided	divide	VERB
fsr-3187	168	36	by	by	ADP
fsr-3187	168	37	the	the	DET
fsr-3187	168	38	average	average	ADJ
fsr-3187	168	39	12	12	NUM
fsr-3187	168	40	-	-	PUNCT
fsr-3187	168	41	month	month	NOUN
fsr-3187	168	42	total	total	ADJ
fsr-3187	168	43	net	net	ADJ
fsr-3187	168	44	assets	asset	NOUN
fsr-3187	168	45	of	of	ADP
fsr-3187	168	46	the	the	DET
fsr-3187	168	47	fund	fund	NOUN
fsr-3187	168	48	size	size	NOUN
fsr-3187	168	49	is	be	AUX
fsr-3187	168	50	the	the	DET
fsr-3187	168	51	log	log	NOUN
fsr-3187	168	52	value	value	NOUN
fsr-3187	168	53	of	of	ADP
fsr-3187	168	54	a	a	DET
fsr-3187	168	55	fund	fund	NOUN
fsr-3187	168	56	’s	’s	PART
fsr-3187	168	57	monthly	monthly	ADJ
fsr-3187	168	58	tna	tna	NOUN
fsr-3187	168	59	top	top	NOUN
fsr-3187	168	60	is	be	AUX
fsr-3187	168	61	the	the	DET
fsr-3187	168	62	fund	fund	NOUN
fsr-3187	168	63	’s	’s	PART
fsr-3187	168	64	percentage	percentage	NOUN
fsr-3187	168	65	of	of	ADP
fsr-3187	168	66	investment	investment	NOUN
fsr-3187	168	67	in	in	ADP
fsr-3187	168	68	top	top	ADJ
fsr-3187	168	69	10	10	NUM
fsr-3187	168	70	%	%	NOUN
fsr-3187	168	71	holdings	holding	NOUN
fsr-3187	168	72	,	,	PUNCT
fsr-3187	168	73	tenure	tenure	NOUN
fsr-3187	168	74	is	be	AUX
fsr-3187	168	75	the	the	DET
fsr-3187	168	76	average	average	ADJ
fsr-3187	168	77	manager	manager	NOUN
fsr-3187	168	78	tenure	tenure	NOUN
fsr-3187	168	79	of	of	ADP
fsr-3187	168	80	the	the	DET
fsr-3187	168	81	fund	fund	NOUN
fsr-3187	168	82	manager	manager	NOUN
fsr-3187	168	83	and	and	CCONJ
fsr-3187	168	84	it	it	PRON
fsr-3187	168	85	is	be	AUX
fsr-3187	168	86	log	log	NOUN
fsr-3187	168	87	value	value	NOUN
fsr-3187	168	88	of	of	ADP
fsr-3187	168	89	manager	manager	NOUN
fsr-3187	168	90	tenure	tenure	NOUN
fsr-3187	168	91	cash	cash	NOUN
fsr-3187	168	92	is	be	AUX
fsr-3187	168	93	the	the	DET
fsr-3187	168	94	average	average	ADJ
fsr-3187	168	95	percentage	percentage	NOUN
fsr-3187	168	96	of	of	ADP
fsr-3187	168	97	investment	investment	NOUN
fsr-3187	168	98	held	hold	VERB
fsr-3187	168	99	as	as	ADP
fsr-3187	168	100	cash	cash	NOUN
fsr-3187	168	101	5	5	NUM
fsr-3187	168	102	.	.	PUNCT
fsr-3187	169	1	empirical	empirical	ADJ
fsr-3187	169	2	results	result	NOUN
fsr-3187	169	3	5.1	5.1	NUM
fsr-3187	169	4	.	.	PUNCT
fsr-3187	170	1	abnormal	abnormal	ADJ
fsr-3187	170	2	performance	performance	NOUN
fsr-3187	170	3	to	to	PART
fsr-3187	170	4	estimate	estimate	VERB
fsr-3187	170	5	abnormal	abnormal	ADJ
fsr-3187	170	6	performance	performance	NOUN
fsr-3187	170	7	,	,	PUNCT
fsr-3187	170	8	we	we	PRON
fsr-3187	170	9	use	use	VERB
fsr-3187	170	10	both	both	PRON
fsr-3187	170	11	the	the	DET
fsr-3187	170	12	single	single	ADJ
fsr-3187	170	13	-	-	PUNCT
fsr-3187	170	14	factor	factor	NOUN
fsr-3187	170	15	market	market	NOUN
fsr-3187	170	16	model	model	NOUN
fsr-3187	170	17	and	and	CCONJ
fsr-3187	170	18	the	the	DET
fsr-3187	170	19	carhart	carhart	NOUN
fsr-3187	170	20	(	(	PUNCT
fsr-3187	170	21	1997	1997	NUM
fsr-3187	170	22	)	)	PUNCT
fsr-3187	170	23	four	four	NUM
fsr-3187	170	24	-	-	PUNCT
fsr-3187	170	25	factor	factor	NOUN
fsr-3187	170	26	model	model	NOUN
fsr-3187	170	27	.	.	PUNCT
fsr-3187	171	1	results	result	NOUN
fsr-3187	171	2	in	in	ADP
fsr-3187	171	3	table	table	NOUN
fsr-3187	171	4	2	2	NUM
fsr-3187	171	5	show	show	VERB
fsr-3187	171	6	that	that	SCONJ
fsr-3187	171	7	abnormal	abnormal	ADJ
fsr-3187	171	8	performance	performance	NOUN
fsr-3187	171	9	(	(	PUNCT
fsr-3187	171	10	"	"	PUNCT
fsr-3187	171	11	)	)	PUNCT
fsr-3187	171	12	is	be	AUX
fsr-3187	171	13	positive	positive	ADJ
fsr-3187	171	14	and	and	CCONJ
fsr-3187	171	15	statistically	statistically	ADV
fsr-3187	171	16	highly	highly	ADV
fsr-3187	171	17	significant	significant	ADJ
fsr-3187	171	18	for	for	ADP
fsr-3187	171	19	both	both	DET
fsr-3187	171	20	models	model	NOUN
fsr-3187	171	21	.	.	PUNCT
fsr-3187	172	1	on	on	ADP
fsr-3187	172	2	average	average	ADJ
fsr-3187	172	3	,	,	PUNCT
fsr-3187	172	4	healthcare	healthcare	PROPN
fsr-3187	172	5	mutual	mutual	ADJ
fsr-3187	172	6	funds	fund	NOUN
fsr-3187	172	7	outperformed	outperform	VERB
fsr-3187	172	8	the	the	DET
fsr-3187	172	9	passive	passive	ADJ
fsr-3187	172	10	index	index	NOUN
fsr-3187	172	11	by	by	ADP
fsr-3187	172	12	0.2847	0.2847	NUM
fsr-3187	172	13	%	%	NOUN
fsr-3187	172	14	per	per	ADP
fsr-3187	172	15	month	month	NOUN
fsr-3187	172	16	(	(	PUNCT
fsr-3187	172	17	3.42	3.42	NUM
fsr-3187	172	18	%	%	NOUN
fsr-3187	172	19	per	per	ADP
fsr-3187	172	20	year	year	NOUN
fsr-3187	172	21	)	)	PUNCT
fsr-3187	172	22	when	when	SCONJ
fsr-3187	172	23	the	the	DET
fsr-3187	172	24	single	single	ADJ
fsr-3187	172	25	-	-	PUNCT
fsr-3187	172	26	factor	factor	NOUN
fsr-3187	172	27	model	model	NOUN
fsr-3187	172	28	is	be	AUX
fsr-3187	172	29	used	use	VERB
fsr-3187	172	30	.	.	PUNCT
fsr-3187	173	1	the	the	DET
fsr-3187	173	2	abnormal	abnormal	ADJ
fsr-3187	173	3	performance	performance	NOUN
fsr-3187	173	4	is	be	AUX
fsr-3187	173	5	0.2473	0.2473	NUM
fsr-3187	173	6	%	%	NOUN
fsr-3187	173	7	per	per	ADP
fsr-3187	173	8	month	month	NOUN
fsr-3187	173	9	(	(	PUNCT
fsr-3187	173	10	2.97	2.97	NUM
fsr-3187	173	11	%	%	NOUN
fsr-3187	173	12	per	per	ADP
fsr-3187	173	13	year	year	NOUN
fsr-3187	173	14	)	)	PUNCT
fsr-3187	173	15	when	when	SCONJ
fsr-3187	173	16	the	the	DET
fsr-3187	173	17	four	four	NUM
fsr-3187	173	18	-	-	PUNCT
fsr-3187	173	19	factor	factor	NOUN
fsr-3187	173	20	model	model	NOUN
fsr-3187	173	21	is	be	AUX
fsr-3187	173	22	used	use	VERB
fsr-3187	173	23	.	.	PUNCT
fsr-3187	174	1	as	as	SCONJ
fsr-3187	174	2	mentioned	mention	VERB
fsr-3187	174	3	above	above	ADV
fsr-3187	174	4	,	,	PUNCT
fsr-3187	174	5	both	both	PRON
fsr-3187	174	6	"	"	PUNCT
fsr-3187	174	7	s	s	NOUN
fsr-3187	174	8	are	be	AUX
fsr-3187	174	9	statistically	statistically	ADV
fsr-3187	174	10	highly	highly	ADV
fsr-3187	174	11	significant	significant	ADJ
fsr-3187	174	12	.	.	PUNCT
fsr-3187	175	1	in	in	ADP
fsr-3187	175	2	both	both	DET
fsr-3187	175	3	models	model	NOUN
fsr-3187	175	4	,	,	PUNCT
fsr-3187	175	5	the	the	DET
fsr-3187	175	6	coefficients	coefficient	NOUN
fsr-3187	175	7	for	for	ADP
fsr-3187	175	8	the	the	DET
fsr-3187	175	9	market	market	NOUN
fsr-3187	175	10	are	be	AUX
fsr-3187	175	11	also	also	ADV
fsr-3187	175	12	positive	positive	ADJ
fsr-3187	175	13	and	and	CCONJ
fsr-3187	175	14	highly	highly	ADV
fsr-3187	175	15	significant	significant	ADJ
fsr-3187	175	16	,	,	PUNCT
fsr-3187	175	17	thus	thus	ADV
fsr-3187	175	18	suggesting	suggest	VERB
fsr-3187	175	19	a	a	DET
fsr-3187	175	20	strong	strong	ADJ
fsr-3187	175	21	positive	positive	ADJ
fsr-3187	175	22	correlation	correlation	NOUN
fsr-3187	175	23	between	between	ADP
fsr-3187	175	24	funds	fund	NOUN
fsr-3187	175	25	and	and	CCONJ
fsr-3187	175	26	market	market	NOUN
fsr-3187	175	27	returns	return	NOUN
fsr-3187	175	28	.	.	PUNCT
fsr-3187	176	1	furthermore	furthermore	ADV
fsr-3187	176	2	,	,	PUNCT
fsr-3187	176	3	the	the	DET
fsr-3187	176	4	four	four	NUM
fsr-3187	176	5	-	-	PUNCT
fsr-3187	176	6	factor	factor	NOUN
fsr-3187	176	7	model	model	NOUN
fsr-3187	176	8	shows	show	VERB
fsr-3187	176	9	positive	positive	ADJ
fsr-3187	176	10	and	and	CCONJ
fsr-3187	176	11	statistically	statistically	ADV
fsr-3187	176	12	significant	significant	ADJ
fsr-3187	176	13	!	!	PUNCT
fsr-3187	177	1	loadings	loading	NOUN
fsr-3187	177	2	for	for	ADP
fsr-3187	177	3	84	84	NUM
fsr-3187	177	4	a.	a.	NOUN
fsr-3187	177	5	kaushik	kaushik	PROPN
fsr-3187	177	6	et	et	PROPN
fsr-3187	177	7	al	al	PROPN
fsr-3187	177	8	.	.	PUNCT
fsr-3187	177	9	/	/	SYM
fsr-3187	177	10	financial	financial	ADJ
fsr-3187	177	11	services	service	NOUN
fsr-3187	177	12	review	review	VERB
fsr-3187	177	13	23	23	NUM
fsr-3187	177	14	(	(	PUNCT
fsr-3187	177	15	2014	2014	NUM
fsr-3187	177	16	)	)	PUNCT
fsr-3187	177	17	77–91	77–91	NUM
fsr-3187	177	18	smb	smb	NOUN
fsr-3187	177	19	and	and	CCONJ
fsr-3187	177	20	mom	mom	NOUN
fsr-3187	177	21	factors	factor	NOUN
fsr-3187	177	22	.	.	PUNCT
fsr-3187	178	1	these	these	DET
fsr-3187	178	2	results	result	NOUN
fsr-3187	178	3	indicate	indicate	VERB
fsr-3187	178	4	that	that	SCONJ
fsr-3187	178	5	abnormal	abnormal	ADJ
fsr-3187	178	6	performance	performance	NOUN
fsr-3187	178	7	of	of	ADP
fsr-3187	178	8	sample	sample	NOUN
fsr-3187	178	9	funds	fund	NOUN
fsr-3187	178	10	is	be	AUX
fsr-3187	178	11	heavily	heavily	ADV
fsr-3187	178	12	influenced	influence	VERB
fsr-3187	178	13	by	by	ADP
fsr-3187	178	14	size	size	NOUN
fsr-3187	178	15	and	and	CCONJ
fsr-3187	178	16	past	past	ADJ
fsr-3187	178	17	returns	return	NOUN
fsr-3187	178	18	of	of	ADP
fsr-3187	178	19	their	their	PRON
fsr-3187	178	20	holdings	holding	NOUN
fsr-3187	178	21	.	.	PUNCT
fsr-3187	179	1	of	of	ADP
fsr-3187	179	2	interest	interest	NOUN
fsr-3187	179	3	to	to	ADP
fsr-3187	179	4	the	the	DET
fsr-3187	179	5	author	author	NOUN
fsr-3187	179	6	,	,	PUNCT
fsr-3187	179	7	descriptive	descriptive	ADJ
fsr-3187	179	8	statistics	statistic	NOUN
fsr-3187	179	9	in	in	ADP
fsr-3187	179	10	table	table	NOUN
fsr-3187	179	11	1	1	NUM
fsr-3187	179	12	shows	show	VERB
fsr-3187	179	13	that	that	SCONJ
fsr-3187	179	14	majority	majority	NOUN
fsr-3187	179	15	of	of	ADP
fsr-3187	179	16	funds	fund	NOUN
fsr-3187	179	17	in	in	ADP
fsr-3187	179	18	our	our	PRON
fsr-3187	179	19	sample	sample	NOUN
fsr-3187	179	20	are	be	AUX
fsr-3187	179	21	small	small	ADJ
fsr-3187	179	22	cap	cap	NOUN
fsr-3187	179	23	funds	fund	NOUN
fsr-3187	179	24	with	with	ADP
fsr-3187	179	25	average	average	ADJ
fsr-3187	179	26	size	size	NOUN
fsr-3187	179	27	of	of	ADP
fsr-3187	179	28	$	$	SYM
fsr-3187	179	29	168.50	168.50	NUM
fsr-3187	179	30	million	million	NUM
fsr-3187	179	31	over	over	ADP
fsr-3187	179	32	the	the	DET
fsr-3187	179	33	time	time	NOUN
fsr-3187	179	34	period	period	NOUN
fsr-3187	179	35	of	of	ADP
fsr-3187	179	36	this	this	DET
fsr-3187	179	37	study	study	NOUN
fsr-3187	179	38	.	.	PUNCT
fsr-3187	180	1	another	another	DET
fsr-3187	180	2	interesting	interesting	ADJ
fsr-3187	180	3	observation	observation	NOUN
fsr-3187	180	4	is	be	AUX
fsr-3187	180	5	the	the	DET
fsr-3187	180	6	coefficient	coefficient	NOUN
fsr-3187	180	7	of	of	ADP
fsr-3187	180	8	hml	hml	PROPN
fsr-3187	180	9	that	that	PRON
fsr-3187	180	10	is	be	AUX
fsr-3187	180	11	statistically	statistically	ADV
fsr-3187	180	12	highly	highly	ADV
fsr-3187	180	13	significant	significant	ADJ
fsr-3187	180	14	and	and	CCONJ
fsr-3187	180	15	negative	negative	ADJ
fsr-3187	180	16	.	.	PUNCT
fsr-3187	181	1	the	the	DET
fsr-3187	181	2	negative	negative	ADJ
fsr-3187	181	3	coefficient	coefficient	NOUN
fsr-3187	181	4	of	of	ADP
fsr-3187	181	5	hml	hml	PROPN
fsr-3187	181	6	indicates	indicate	VERB
fsr-3187	181	7	positive	positive	ADJ
fsr-3187	181	8	value	value	NOUN
fsr-3187	181	9	premium	premium	NOUN
fsr-3187	181	10	for	for	ADP
fsr-3187	181	11	healthcare	healthcare	NOUN
fsr-3187	181	12	mutual	mutual	ADJ
fsr-3187	181	13	funds	fund	NOUN
fsr-3187	181	14	’	'	PUNCT
fsr-3187	181	15	abnormal	abnormal	ADJ
fsr-3187	181	16	performance	performance	NOUN
fsr-3187	181	17	.	.	PUNCT
fsr-3187	182	1	results	result	NOUN
fsr-3187	182	2	in	in	ADP
fsr-3187	182	3	table	table	NOUN
fsr-3187	182	4	2	2	NUM
fsr-3187	182	5	suggest	suggest	VERB
fsr-3187	182	6	that	that	SCONJ
fsr-3187	182	7	healthcare	healthcare	PROPN
fsr-3187	182	8	mutual	mutual	ADJ
fsr-3187	182	9	funds	fund	NOUN
fsr-3187	182	10	have	have	VERB
fsr-3187	182	11	potential	potential	NOUN
fsr-3187	182	12	to	to	PART
fsr-3187	182	13	outperform	outperform	VERB
fsr-3187	182	14	the	the	DET
fsr-3187	182	15	market	market	NOUN
fsr-3187	182	16	after	after	ADP
fsr-3187	182	17	controlling	control	VERB
fsr-3187	182	18	for	for	ADP
fsr-3187	182	19	the	the	DET
fsr-3187	182	20	market	market	NOUN
fsr-3187	182	21	risk	risk	NOUN
fsr-3187	182	22	premium	premium	NOUN
fsr-3187	182	23	,	,	PUNCT
fsr-3187	182	24	premiums	premium	NOUN
fsr-3187	182	25	for	for	ADP
fsr-3187	182	26	small	small	ADJ
fsr-3187	182	27	and	and	CCONJ
fsr-3187	182	28	value	value	NOUN
fsr-3187	182	29	stocks	stock	NOUN
fsr-3187	182	30	,	,	PUNCT
fsr-3187	182	31	and	and	CCONJ
fsr-3187	182	32	net	net	NOUN
fsr-3187	182	33	of	of	ADP
fsr-3187	182	34	momentum	momentum	NOUN
fsr-3187	182	35	effects	effect	NOUN
fsr-3187	182	36	.	.	PUNCT
fsr-3187	183	1	these	these	DET
fsr-3187	183	2	findings	finding	NOUN
fsr-3187	183	3	are	be	AUX
fsr-3187	183	4	particularly	particularly	ADV
fsr-3187	183	5	interesting	interesting	ADJ
fsr-3187	183	6	and	and	CCONJ
fsr-3187	183	7	worth	worth	ADJ
fsr-3187	183	8	noting	note	VERB
fsr-3187	183	9	as	as	ADP
fsr-3187	183	10	majority	majority	NOUN
fsr-3187	183	11	of	of	ADP
fsr-3187	183	12	the	the	DET
fsr-3187	183	13	existing	exist	VERB
fsr-3187	183	14	literature	literature	NOUN
fsr-3187	183	15	suggests	suggest	VERB
fsr-3187	183	16	that	that	SCONJ
fsr-3187	183	17	active	active	ADJ
fsr-3187	183	18	funds	fund	NOUN
fsr-3187	183	19	,	,	PUNCT
fsr-3187	183	20	on	on	ADP
fsr-3187	183	21	average	average	ADJ
fsr-3187	183	22	,	,	PUNCT
fsr-3187	183	23	underperform	underperform	VERB
fsr-3187	183	24	the	the	DET
fsr-3187	183	25	market	market	NOUN
fsr-3187	183	26	index	index	NOUN
fsr-3187	183	27	especially	especially	ADV
fsr-3187	183	28	after	after	ADP
fsr-3187	183	29	incorporating	incorporate	VERB
fsr-3187	183	30	the	the	DET
fsr-3187	183	31	effects	effect	NOUN
fsr-3187	183	32	of	of	ADP
fsr-3187	183	33	market	market	NOUN
fsr-3187	183	34	and	and	CCONJ
fsr-3187	183	35	other	other	ADJ
fsr-3187	183	36	biases	bias	NOUN
fsr-3187	183	37	.	.	PUNCT
fsr-3187	184	1	thus	thus	ADV
fsr-3187	184	2	,	,	PUNCT
fsr-3187	184	3	the	the	DET
fsr-3187	184	4	findings	finding	NOUN
fsr-3187	184	5	of	of	ADP
fsr-3187	184	6	this	this	DET
fsr-3187	184	7	study	study	NOUN
fsr-3187	184	8	reverse	reverse	VERB
fsr-3187	184	9	the	the	DET
fsr-3187	184	10	general	general	ADJ
fsr-3187	184	11	notion	notion	NOUN
fsr-3187	184	12	and	and	CCONJ
fsr-3187	184	13	support	support	VERB
fsr-3187	184	14	the	the	DET
fsr-3187	184	15	selectivity	selectivity	NOUN
fsr-3187	184	16	skills	skill	NOUN
fsr-3187	184	17	of	of	ADP
fsr-3187	184	18	active	active	ADJ
fsr-3187	184	19	management	management	NOUN
fsr-3187	184	20	.	.	PUNCT
fsr-3187	185	1	5.2.1	5.2.1	X
fsr-3187	185	2	.	.	PUNCT
fsr-3187	185	3	persistence	persistence	NOUN
fsr-3187	185	4	of	of	ADP
fsr-3187	185	5	performance	performance	NOUN
fsr-3187	185	6	next	next	ADV
fsr-3187	185	7	,	,	PUNCT
fsr-3187	185	8	we	we	PRON
fsr-3187	185	9	estimate	estimate	VERB
fsr-3187	185	10	the	the	DET
fsr-3187	185	11	persistence	persistence	NOUN
fsr-3187	185	12	effect	effect	NOUN
fsr-3187	185	13	,	,	PUNCT
fsr-3187	185	14	that	that	ADV
fsr-3187	185	15	is	is	ADV
fsr-3187	185	16	,	,	PUNCT
fsr-3187	185	17	whether	whether	SCONJ
fsr-3187	185	18	the	the	DET
fsr-3187	185	19	performance	performance	NOUN
fsr-3187	185	20	is	be	AUX
fsr-3187	185	21	a	a	DET
fsr-3187	185	22	random	random	ADJ
fsr-3187	185	23	event	event	NOUN
fsr-3187	185	24	or	or	CCONJ
fsr-3187	185	25	funds	fund	NOUN
fsr-3187	185	26	are	be	AUX
fsr-3187	185	27	able	able	ADJ
fsr-3187	185	28	to	to	PART
fsr-3187	185	29	repeat	repeat	VERB
fsr-3187	185	30	their	their	PRON
fsr-3187	185	31	underand	underand	NOUN
fsr-3187	185	32	over	over	ADP
fsr-3187	185	33	-	-	PUNCT
fsr-3187	185	34	performances	performance	NOUN
fsr-3187	185	35	to	to	ADP
fsr-3187	185	36	the	the	DET
fsr-3187	185	37	subsequent	subsequent	ADJ
fsr-3187	185	38	periods	period	NOUN
fsr-3187	185	39	.	.	PUNCT
fsr-3187	186	1	table	table	NOUN
fsr-3187	186	2	3	3	NUM
fsr-3187	186	3	documents	document	NOUN
fsr-3187	186	4	results	result	NOUN
fsr-3187	186	5	for	for	ADP
fsr-3187	186	6	the	the	DET
fsr-3187	186	7	past	past	ADJ
fsr-3187	186	8	losers	loser	NOUN
fsr-3187	186	9	(	(	PUNCT
fsr-3187	186	10	q1	q1	PROPN
fsr-3187	186	11	)	)	PUNCT
fsr-3187	186	12	and	and	CCONJ
fsr-3187	186	13	winners	winner	NOUN
fsr-3187	186	14	(	(	PUNCT
fsr-3187	186	15	q5	q5	PROPN
fsr-3187	186	16	)	)	PUNCT
fsr-3187	186	17	.	.	PUNCT
fsr-3187	187	1	panel	panel	NOUN
fsr-3187	187	2	a	a	DET
fsr-3187	187	3	reports	report	NOUN
fsr-3187	187	4	"	"	PUNCT
fsr-3187	187	5	estimate	estimate	NOUN
fsr-3187	187	6	of	of	ADP
fsr-3187	187	7	a	a	DET
fsr-3187	187	8	series	series	NOUN
fsr-3187	187	9	of	of	ADP
fsr-3187	187	10	funds	fund	NOUN
fsr-3187	187	11	that	that	PRON
fsr-3187	187	12	were	be	AUX
fsr-3187	187	13	ranked	rank	VERB
fsr-3187	187	14	in	in	ADP
fsr-3187	187	15	the	the	DET
fsr-3187	187	16	bottom	bottom	ADJ
fsr-3187	187	17	20	20	NUM
fsr-3187	187	18	%	%	NOUN
fsr-3187	187	19	based	base	VERB
fsr-3187	187	20	on	on	ADP
fsr-3187	187	21	their	their	PRON
fsr-3187	187	22	previous	previous	ADJ
fsr-3187	187	23	table	table	NOUN
fsr-3187	187	24	2	2	NUM
fsr-3187	187	25	abnormal	abnormal	ADJ
fsr-3187	187	26	performance	performance	NOUN
fsr-3187	187	27	of	of	ADP
fsr-3187	187	28	healthcare	healthcare	NOUN
fsr-3187	187	29	funds	fund	NOUN
fsr-3187	187	30	parameter	parameter	NOUN
fsr-3187	187	31	estimate	estimate	NOUN
fsr-3187	187	32	t	t	PROPN
fsr-3187	187	33	value	value	NOUN
fsr-3187	187	34	p	p	PROPN
fsr-3187	187	35	value	value	NOUN
fsr-3187	187	36	panel	panel	NOUN
fsr-3187	187	37	a	a	DET
fsr-3187	187	38	:	:	PUNCT
fsr-3187	187	39	single	single	ADJ
fsr-3187	187	40	factor	factor	NOUN
fsr-3187	187	41	model	model	NOUN
fsr-3187	187	42	"	"	PUNCT
fsr-3187	187	43	0.2848	0.2848	NUM
fsr-3187	187	44	*	*	PUNCT
fsr-3187	187	45	*	*	PUNCT
fsr-3187	187	46	*	*	PUNCT
fsr-3187	187	47	7.58	7.58	NUM
fsr-3187	187	48	0.0000	0.0000	NUM
fsr-3187	187	49	rmrf	rmrf	NOUN
fsr-3187	187	50	0.7089	0.7089	NUM
fsr-3187	187	51	*	*	NOUN
fsr-3187	187	52	*	*	PUNCT
fsr-3187	187	53	*	*	PROPN
fsr-3187	187	54	81.80	81.80	NUM
fsr-3187	187	55	0.0000	0.0000	NUM
fsr-3187	187	56	adj	adj	X
fsr-3187	187	57	.	.	PROPN
fsr-3187	187	58	r2	r2	PROPN
fsr-3187	187	59	0.3444	0.3444	NUM
fsr-3187	187	60	n	n	CCONJ
fsr-3187	187	61	14,072	14,072	NUM
fsr-3187	187	62	panel	panel	NOUN
fsr-3187	187	63	b	b	NOUN
fsr-3187	187	64	:	:	PUNCT
fsr-3187	187	65	four	four	NUM
fsr-3187	187	66	-	-	PUNCT
fsr-3187	187	67	factor	factor	NOUN
fsr-3187	187	68	model	model	NOUN
fsr-3187	187	69	"	"	PUNCT
fsr-3187	187	70	0.2473	0.2473	NUM
fsr-3187	187	71	*	*	PUNCT
fsr-3187	187	72	*	*	PUNCT
fsr-3187	187	73	*	*	PROPN
fsr-3187	187	74	7.58	7.58	NUM
fsr-3187	187	75	0.0000	0.0000	NUM
fsr-3187	187	76	rmrf	rmrf	NOUN
fsr-3187	187	77	0.6947	0.6947	NUM
fsr-3187	187	78	*	*	PUNCT
fsr-3187	187	79	*	*	PUNCT
fsr-3187	187	80	*	*	X
fsr-3187	187	81	54.92	54.92	NUM
fsr-3187	187	82	0.0000	0.0000	NUM
fsr-3187	187	83	smb	smb	NOUN
fsr-3187	187	84	0.2900	0.2900	NUM
fsr-3187	187	85	*	*	PUNCT
fsr-3187	187	86	*	*	PUNCT
fsr-3187	187	87	*	*	PUNCT
fsr-3187	187	88	7.80	7.80	NUM
fsr-3187	187	89	0.0000	0.0000	NUM
fsr-3187	187	90	hml	hml	NOUN
fsr-3187	187	91	#	#	SYM
fsr-3187	187	92	0.2094	0.2094	NUM
fsr-3187	187	93	*	*	PUNCT
fsr-3187	187	94	*	*	PUNCT
fsr-3187	187	95	*	*	PUNCT
fsr-3187	187	96	#	#	SYM
fsr-3187	187	97	10.60	10.60	NUM
fsr-3187	187	98	0.0000	0.0000	NUM
fsr-3187	187	99	mom	mom	NOUN
fsr-3187	187	100	0.1198	0.1198	NUM
fsr-3187	187	101	*	*	PUNCT
fsr-3187	187	102	*	*	PUNCT
fsr-3187	187	103	*	*	PROPN
fsr-3187	187	104	10.38	10.38	NUM
fsr-3187	187	105	0.0000	0.0000	NUM
fsr-3187	187	106	adj	adj	X
fsr-3187	187	107	.	.	PUNCT
fsr-3187	187	108	r2	r2	PROPN
fsr-3187	187	109	0.4196	0.4196	NUM
fsr-3187	187	110	n	n	CCONJ
fsr-3187	187	111	14,072	14,072	NUM
fsr-3187	187	112	note	note	NOUN
fsr-3187	187	113	.	.	PUNCT
fsr-3187	188	1	the	the	DET
fsr-3187	188	2	above	above	ADJ
fsr-3187	188	3	table	table	NOUN
fsr-3187	188	4	shows	show	VERB
fsr-3187	188	5	the	the	DET
fsr-3187	188	6	abnormal	abnormal	ADJ
fsr-3187	188	7	performance	performance	NOUN
fsr-3187	188	8	of	of	ADP
fsr-3187	188	9	the	the	DET
fsr-3187	188	10	sample	sample	NOUN
fsr-3187	188	11	funds	fund	NOUN
fsr-3187	188	12	over	over	ADP
fsr-3187	188	13	the	the	DET
fsr-3187	188	14	period	period	NOUN
fsr-3187	188	15	1/2000	1/2000	NUM
fsr-3187	188	16	to	to	ADP
fsr-3187	188	17	12/2011	12/2011	NUM
fsr-3187	188	18	.	.	PUNCT
fsr-3187	189	1	the	the	DET
fsr-3187	189	2	abnormal	abnormal	ADJ
fsr-3187	189	3	performance	performance	NOUN
fsr-3187	189	4	(	(	PUNCT
fsr-3187	189	5	"	"	PUNCT
fsr-3187	189	6	)	)	PUNCT
fsr-3187	189	7	is	be	AUX
fsr-3187	189	8	based	base	VERB
fsr-3187	189	9	on	on	ADP
fsr-3187	189	10	the	the	DET
fsr-3187	189	11	single	single	ADJ
fsr-3187	189	12	factor	factor	NOUN
fsr-3187	189	13	and	and	CCONJ
fsr-3187	189	14	four	four	NUM
fsr-3187	189	15	-	-	PUNCT
fsr-3187	189	16	factor	factor	NOUN
fsr-3187	189	17	models	model	NOUN
fsr-3187	189	18	.	.	PUNCT
fsr-3187	190	1	rit	rit	NOUN
fsr-3187	190	2	is	be	AUX
fsr-3187	190	3	the	the	DET
fsr-3187	190	4	excess	excess	ADJ
fsr-3187	190	5	monthly	monthly	ADJ
fsr-3187	190	6	return	return	NOUN
fsr-3187	190	7	of	of	ADP
fsr-3187	190	8	fund	fund	NOUN
fsr-3187	190	9	i	i	PRON
fsr-3187	190	10	over	over	ADP
fsr-3187	190	11	one	one	NUM
fsr-3187	190	12	month	month	NOUN
fsr-3187	190	13	u.	u.	PROPN
fsr-3187	190	14	s.	s.	PROPN
fsr-3187	190	15	t	t	PROPN
fsr-3187	190	16	-	-	PUNCT
fsr-3187	190	17	bill	bill	NOUN
fsr-3187	190	18	return	return	NOUN
fsr-3187	190	19	.	.	PUNCT
fsr-3187	191	1	rmrf	rmrf	NOUN
fsr-3187	191	2	is	be	AUX
fsr-3187	191	3	the	the	DET
fsr-3187	191	4	excess	excess	ADJ
fsr-3187	191	5	monthly	monthly	ADJ
fsr-3187	191	6	return	return	NOUN
fsr-3187	191	7	of	of	ADP
fsr-3187	191	8	the	the	DET
fsr-3187	191	9	value	value	NOUN
fsr-3187	191	10	weighted	weight	VERB
fsr-3187	191	11	crsp	crsp	PROPN
fsr-3187	191	12	index	index	NOUN
fsr-3187	191	13	over	over	ADP
fsr-3187	191	14	the	the	DET
fsr-3187	191	15	one	one	NUM
fsr-3187	191	16	month	month	NOUN
fsr-3187	191	17	u.s	u.s	PROPN
fsr-3187	191	18	.	.	PROPN
fsr-3187	191	19	t	t	PROPN
fsr-3187	191	20	-	-	PUNCT
fsr-3187	191	21	bill	bill	NOUN
fsr-3187	191	22	return	return	NOUN
fsr-3187	191	23	.	.	PUNCT
fsr-3187	192	1	smb	smb	PROPN
fsr-3187	192	2	,	,	PUNCT
fsr-3187	192	3	hml	hml	PROPN
fsr-3187	192	4	,	,	PUNCT
fsr-3187	192	5	and	and	CCONJ
fsr-3187	192	6	mom	mom	NOUN
fsr-3187	192	7	are	be	AUX
fsr-3187	192	8	monthly	monthly	ADJ
fsr-3187	192	9	returns	return	NOUN
fsr-3187	192	10	of	of	ADP
fsr-3187	192	11	size	size	NOUN
fsr-3187	192	12	(	(	PUNCT
fsr-3187	192	13	the	the	DET
fsr-3187	192	14	difference	difference	NOUN
fsr-3187	192	15	in	in	ADP
fsr-3187	192	16	returns	return	NOUN
fsr-3187	192	17	between	between	ADP
fsr-3187	192	18	small	small	ADJ
fsr-3187	192	19	and	and	CCONJ
fsr-3187	192	20	large	large	ADJ
fsr-3187	192	21	cap	cap	NOUN
fsr-3187	192	22	stocks	stock	NOUN
fsr-3187	192	23	)	)	PUNCT
fsr-3187	192	24	,	,	PUNCT
fsr-3187	192	25	book	book	NOUN
fsr-3187	192	26	to	to	ADP
fsr-3187	192	27	market	market	NOUN
fsr-3187	192	28	(	(	PUNCT
fsr-3187	192	29	the	the	DET
fsr-3187	192	30	difference	difference	NOUN
fsr-3187	192	31	in	in	ADP
fsr-3187	192	32	returns	return	NOUN
fsr-3187	192	33	between	between	ADP
fsr-3187	192	34	high	high	ADJ
fsr-3187	192	35	and	and	CCONJ
fsr-3187	192	36	low	low	ADJ
fsr-3187	192	37	book	book	NOUN
fsr-3187	192	38	-	-	PUNCT
fsr-3187	192	39	to	to	ADP
fsr-3187	192	40	-	-	PUNCT
fsr-3187	192	41	market	market	NOUN
fsr-3187	192	42	stocks	stock	NOUN
fsr-3187	192	43	)	)	PUNCT
fsr-3187	192	44	,	,	PUNCT
fsr-3187	192	45	and	and	CCONJ
fsr-3187	192	46	momentum	momentum	NOUN
fsr-3187	192	47	(	(	PUNCT
fsr-3187	192	48	the	the	DET
fsr-3187	192	49	difference	difference	NOUN
fsr-3187	192	50	in	in	ADP
fsr-3187	192	51	returns	return	NOUN
fsr-3187	192	52	between	between	ADP
fsr-3187	192	53	stocks	stock	NOUN
fsr-3187	192	54	with	with	ADP
fsr-3187	192	55	high	high	ADJ
fsr-3187	192	56	and	and	CCONJ
fsr-3187	192	57	low	low	ADJ
fsr-3187	192	58	past	past	ADJ
fsr-3187	192	59	returns	return	NOUN
fsr-3187	192	60	)	)	PUNCT
fsr-3187	192	61	portfolios	portfolio	NOUN
fsr-3187	192	62	,	,	PUNCT
fsr-3187	192	63	respectively	respectively	ADV
fsr-3187	192	64	.	.	PUNCT
fsr-3187	193	1	the	the	DET
fsr-3187	193	2	dependent	dependent	ADJ
fsr-3187	193	3	variable	variable	NOUN
fsr-3187	193	4	is	be	AUX
fsr-3187	193	5	the	the	DET
fsr-3187	193	6	individual	individual	ADJ
fsr-3187	193	7	fund	fund	PROPN
fsr-3187	193	8	’s	’s	PART
fsr-3187	193	9	monthly	monthly	ADJ
fsr-3187	193	10	excess	excess	ADJ
fsr-3187	193	11	return	return	NOUN
fsr-3187	193	12	over	over	ADP
fsr-3187	193	13	the	the	DET
fsr-3187	193	14	corresponding	correspond	VERB
fsr-3187	193	15	one	one	NUM
fsr-3187	193	16	month	month	NOUN
fsr-3187	193	17	t	t	PROPN
fsr-3187	193	18	-	-	PUNCT
fsr-3187	193	19	bill	bill	NOUN
fsr-3187	193	20	rate	rate	NOUN
fsr-3187	193	21	.	.	PUNCT
fsr-3187	193	22	"	"	PUNCT
fsr-3187	193	23	is	be	AUX
fsr-3187	193	24	expressed	express	VERB
fsr-3187	193	25	in	in	ADP
fsr-3187	193	26	percentage	percentage	NOUN
fsr-3187	193	27	per	per	ADP
fsr-3187	193	28	month	month	NOUN
fsr-3187	193	29	.	.	PUNCT
fsr-3187	194	1	results	result	NOUN
fsr-3187	194	2	are	be	AUX
fsr-3187	194	3	based	base	VERB
fsr-3187	194	4	on	on	ADP
fsr-3187	194	5	newey	newey	PROPN
fsr-3187	194	6	-	-	PUNCT
fsr-3187	194	7	west	west	PROPN
fsr-3187	194	8	heteroscedasticity	heteroscedasticity	PROPN
fsr-3187	194	9	and	and	CCONJ
fsr-3187	194	10	autocorrelation	autocorrelation	NOUN
fsr-3187	194	11	adjusted	adjust	VERB
fsr-3187	194	12	standard	standard	ADJ
fsr-3187	194	13	errors	error	NOUN
fsr-3187	194	14	.	.	PUNCT
fsr-3187	195	1	n	n	PRON
fsr-3187	195	2	is	be	AUX
fsr-3187	195	3	the	the	DET
fsr-3187	195	4	number	number	NOUN
fsr-3187	195	5	of	of	ADP
fsr-3187	195	6	fund	fund	NOUN
fsr-3187	195	7	month	month	NOUN
fsr-3187	195	8	observations	observation	NOUN
fsr-3187	195	9	.	.	PUNCT
fsr-3187	196	1	*	*	PUNCT
fsr-3187	197	1	*	*	PUNCT
fsr-3187	197	2	*	*	PUNCT
fsr-3187	197	3	,	,	PUNCT
fsr-3187	197	4	*	*	PUNCT
fsr-3187	197	5	*	*	PUNCT
fsr-3187	197	6	,	,	PUNCT
fsr-3187	197	7	and	and	CCONJ
fsr-3187	197	8	*	*	AUX
fsr-3187	197	9	show	show	VERB
fsr-3187	197	10	the	the	DET
fsr-3187	197	11	significance	significance	NOUN
fsr-3187	197	12	at	at	ADP
fsr-3187	197	13	1	1	NUM
fsr-3187	197	14	%	%	NOUN
fsr-3187	197	15	,	,	PUNCT
fsr-3187	197	16	5	5	NUM
fsr-3187	197	17	%	%	NOUN
fsr-3187	197	18	,	,	PUNCT
fsr-3187	197	19	and	and	CCONJ
fsr-3187	197	20	10	10	NUM
fsr-3187	197	21	%	%	NOUN
fsr-3187	197	22	level	level	NOUN
fsr-3187	197	23	,	,	PUNCT
fsr-3187	197	24	respectively	respectively	ADV
fsr-3187	197	25	.	.	PUNCT
fsr-3187	198	1	model	model	PROPN
fsr-3187	198	2	a	a	PRON
fsr-3187	198	3	:	:	PUNCT
fsr-3187	198	4	rit	rit	NOUN
fsr-3187	198	5	#	#	NOUN
fsr-3187	198	6	rft	rft	NOUN
fsr-3187	198	7	$	$	NOUN
fsr-3187	198	8	"	"	PUNCT
fsr-3187	198	9	i	i	PRON
fsr-3187	198	10	"	"	PUNCT
fsr-3187	198	11	!	!	PUNCT
fsr-3187	199	1	1i	1i	NOUN
fsr-3187	199	2	!	!	PUNCT
fsr-3187	200	1	rmrft	rmrft	NOUN
fsr-3187	200	2	"	"	PUNCT
fsr-3187	200	3	&	&	CCONJ
fsr-3187	200	4	i	i	PROPN
fsr-3187	200	5	,	,	PUNCT
fsr-3187	200	6	t	t	PROPN
fsr-3187	200	7	;	;	PUNCT
fsr-3187	200	8	model	model	NOUN
fsr-3187	200	9	b	b	PROPN
fsr-3187	200	10	:	:	PUNCT
fsr-3187	200	11	rit	rit	PROPN
fsr-3187	200	12	#	#	PROPN
fsr-3187	200	13	rft	rft	NOUN
fsr-3187	200	14	$	$	NOUN
fsr-3187	200	15	"	"	PUNCT
fsr-3187	200	16	i	i	PRON
fsr-3187	200	17	"	"	PUNCT
fsr-3187	200	18	!	!	PUNCT
fsr-3187	201	1	1i	1i	NOUN
fsr-3187	201	2	!	!	PUNCT
fsr-3187	202	1	rmrft	rmrft	NOUN
fsr-3187	202	2	"	"	PUNCT
fsr-3187	202	3	!	!	PUNCT
fsr-3187	203	1	2i	2i	NOUN
fsr-3187	203	2	!	!	PUNCT
fsr-3187	204	1	smbt	smbt	NOUN
fsr-3187	204	2	"	"	PUNCT
fsr-3187	204	3	!	!	PUNCT
fsr-3187	205	1	3i	3i	NOUN
fsr-3187	205	2	!	!	PUNCT
fsr-3187	206	1	hmlt	hmlt	PROPN
fsr-3187	206	2	"	"	PUNCT
fsr-3187	206	3	!	!	PUNCT
fsr-3187	207	1	4i	4i	NOUN
fsr-3187	207	2	!	!	PUNCT
fsr-3187	208	1	momt	momt	ADJ
fsr-3187	208	2	"	"	PUNCT
fsr-3187	208	3	&	&	CCONJ
fsr-3187	208	4	i	i	PROPN
fsr-3187	208	5	,	,	PUNCT
fsr-3187	208	6	t.	t.	NOUN
fsr-3187	208	7	85a	85a	NOUN
fsr-3187	208	8	.	.	PUNCT
fsr-3187	209	1	kaushik	kaushik	PROPN
fsr-3187	209	2	et	et	PROPN
fsr-3187	209	3	al	al	PROPN
fsr-3187	209	4	.	.	PUNCT
fsr-3187	209	5	/	/	SYM
fsr-3187	209	6	financial	financial	ADJ
fsr-3187	209	7	services	service	NOUN
fsr-3187	209	8	review	review	VERB
fsr-3187	209	9	23	23	NUM
fsr-3187	209	10	(	(	PUNCT
fsr-3187	209	11	2014	2014	NUM
fsr-3187	210	1	)	)	PUNCT
fsr-3187	210	2	77–91	77–91	NUM
fsr-3187	210	3	table	table	NOUN
fsr-3187	210	4	3	3	NUM
fsr-3187	210	5	persistence	persistence	NOUN
fsr-3187	210	6	of	of	ADP
fsr-3187	210	7	performance	performance	NOUN
fsr-3187	210	8	parameter	parameter	NOUN
fsr-3187	210	9	estimate	estimate	NOUN
fsr-3187	210	10	t	t	PROPN
fsr-3187	210	11	value	value	NOUN
fsr-3187	210	12	p	p	PROPN
fsr-3187	210	13	value	value	NOUN
fsr-3187	210	14	panel	panel	NOUN
fsr-3187	210	15	a	a	DET
fsr-3187	210	16	"	"	PUNCT
fsr-3187	210	17	0.0215	0.0215	NUM
fsr-3187	210	18	0.28	0.28	NUM
fsr-3187	210	19	0.7824	0.7824	NUM
fsr-3187	210	20	rmrf	rmrf	NOUN
fsr-3187	210	21	0.8275	0.8275	NUM
fsr-3187	210	22	*	*	PUNCT
fsr-3187	210	23	*	*	PUNCT
fsr-3187	210	24	*	*	X
fsr-3187	210	25	29.34	29.34	NUM
fsr-3187	210	26	0.0000	0.0000	NUM
fsr-3187	210	27	smb	smb	NOUN
fsr-3187	210	28	#	#	SYM
fsr-3187	210	29	0.2205	0.2205	NUM
fsr-3187	210	30	*	*	PUNCT
fsr-3187	210	31	*	*	PUNCT
fsr-3187	210	32	*	*	PUNCT
fsr-3187	210	33	#	#	SYM
fsr-3187	210	34	4.53	4.53	NUM
fsr-3187	210	35	0.0000	0.0000	NUM
fsr-3187	210	36	hml	hml	NOUN
fsr-3187	211	1	#	#	SYM
fsr-3187	211	2	0.1841	0.1841	NUM
fsr-3187	211	3	*	*	PUNCT
fsr-3187	211	4	*	*	PUNCT
fsr-3187	211	5	*	*	PUNCT
fsr-3187	211	6	#	#	SYM
fsr-3187	211	7	4.17	4.17	NUM
fsr-3187	211	8	0.0000	0.0000	NUM
fsr-3187	211	9	mom	mom	NOUN
fsr-3187	211	10	0.0443	0.0443	NUM
fsr-3187	211	11	1.78	1.78	NUM
fsr-3187	211	12	0.0746	0.0746	NUM
fsr-3187	211	13	adj	adj	NOUN
fsr-3187	211	14	.	.	PUNCT
fsr-3187	212	1	r2	r2	PROPN
fsr-3187	212	2	0.4207	0.4207	NUM
fsr-3187	212	3	n	n	CCONJ
fsr-3187	212	4	2,375	2,375	NUM
fsr-3187	212	5	panel	panel	NOUN
fsr-3187	212	6	b	b	NOUN
fsr-3187	212	7	"	"	PUNCT
fsr-3187	212	8	0.0547	0.0547	NUM
fsr-3187	212	9	0.90	0.90	NUM
fsr-3187	212	10	0.3689	0.3689	NUM
fsr-3187	212	11	rmrf	rmrf	NOUN
fsr-3187	212	12	0.7900	0.7900	NUM
fsr-3187	212	13	*	*	PUNCT
fsr-3187	212	14	*	*	PUNCT
fsr-3187	212	15	*	*	X
fsr-3187	212	16	39.38	39.38	NUM
fsr-3187	212	17	0.0000	0.0000	NUM
fsr-3187	212	18	smb	smb	NOUN
fsr-3187	212	19	0.1569	0.1569	NUM
fsr-3187	212	20	*	*	PUNCT
fsr-3187	212	21	*	*	PUNCT
fsr-3187	212	22	*	*	PUNCT
fsr-3187	212	23	4.18	4.18	NUM
fsr-3187	212	24	0.0000	0.0000	NUM
fsr-3187	212	25	hml	hml	NOUN
fsr-3187	212	26	#	#	SYM
fsr-3187	212	27	0.3076	0.3076	NUM
fsr-3187	212	28	*	*	PUNCT
fsr-3187	212	29	*	*	PUNCT
fsr-3187	212	30	*	*	PUNCT
fsr-3187	212	31	#	#	SYM
fsr-3187	212	32	9.64	9.64	NUM
fsr-3187	212	33	0.0000	0.0000	NUM
fsr-3187	212	34	mom	mom	NOUN
fsr-3187	212	35	0.1156	0.1156	NUM
fsr-3187	212	36	*	*	PUNCT
fsr-3187	212	37	*	*	PUNCT
fsr-3187	212	38	*	*	PUNCT
fsr-3187	212	39	5.30	5.30	NUM
fsr-3187	212	40	0.0000	0.0000	NUM
fsr-3187	212	41	adj	adj	X
fsr-3187	212	42	.	.	PUNCT
fsr-3187	212	43	r2	r2	PROPN
fsr-3187	212	44	0.5482	0.5482	NUM
fsr-3187	212	45	n	n	CCONJ
fsr-3187	212	46	2,628	2,628	NUM
fsr-3187	212	47	year	year	NOUN
fsr-3187	212	48	positive	positive	ADJ
fsr-3187	212	49	"	"	PUNCT
fsr-3187	212	50	negative	negative	ADJ
fsr-3187	212	51	"	"	PUNCT
fsr-3187	212	52	insignificant	insignificant	ADJ
fsr-3187	212	53	"	"	PUNCT
fsr-3187	212	54	panel	panel	NOUN
fsr-3187	212	55	c	c	NOUN
fsr-3187	212	56	:	:	PUNCT
fsr-3187	212	57	short	short	ADJ
fsr-3187	212	58	term	term	NOUN
fsr-3187	212	59	persistence	persistence	NOUN
fsr-3187	212	60	of	of	ADP
fsr-3187	212	61	performance	performance	NOUN
fsr-3187	212	62	of	of	ADP
fsr-3187	212	63	q5	q5	PROPN
fsr-3187	212	64	funds	fund	NOUN
fsr-3187	212	65	2001	2001	NUM
fsr-3187	212	66	25	25	NUM
fsr-3187	212	67	0	0	NUM
fsr-3187	212	68	75	75	NUM
fsr-3187	212	69	2002	2002	NUM
fsr-3187	212	70	0	0	NUM
fsr-3187	212	71	55.6	55.6	NUM
fsr-3187	212	72	44.4	44.4	NUM
fsr-3187	212	73	2003	2003	NUM
fsr-3187	212	74	23.8	23.8	NUM
fsr-3187	212	75	0	0	NUM
fsr-3187	212	76	76.2	76.2	NUM
fsr-3187	212	77	2004	2004	NUM
fsr-3187	212	78	0	0	NUM
fsr-3187	212	79	0	0	NUM
fsr-3187	212	80	100	100	NUM
fsr-3187	212	81	2005	2005	NUM
fsr-3187	212	82	4.8	4.8	NUM
fsr-3187	212	83	0	0	NUM
fsr-3187	213	1	95.2	95.2	NUM
fsr-3187	213	2	2006	2006	NUM
fsr-3187	213	3	0	0	NUM
fsr-3187	213	4	18.2	18.2	NUM
fsr-3187	213	5	81.8	81.8	NUM
fsr-3187	213	6	2008	2008	NUM
fsr-3187	213	7	0	0	NUM
fsr-3187	213	8	0	0	NUM
fsr-3187	213	9	100	100	NUM
fsr-3187	213	10	2010	2010	NUM
fsr-3187	213	11	0	0	NUM
fsr-3187	213	12	0	0	NUM
fsr-3187	213	13	100	100	NUM
fsr-3187	213	14	2011	2011	NUM
fsr-3187	213	15	0	0	NUM
fsr-3187	213	16	0	0	NUM
fsr-3187	213	17	100	100	NUM
fsr-3187	213	18	panel	panel	NOUN
fsr-3187	213	19	d	d	NOUN
fsr-3187	213	20	:	:	PUNCT
fsr-3187	213	21	short	short	ADJ
fsr-3187	213	22	term	term	NOUN
fsr-3187	213	23	persistence	persistence	NOUN
fsr-3187	213	24	of	of	ADP
fsr-3187	213	25	performance	performance	NOUN
fsr-3187	213	26	of	of	ADP
fsr-3187	213	27	q1	q1	NOUN
fsr-3187	213	28	funds	fund	NOUN
fsr-3187	213	29	2001	2001	NUM
fsr-3187	213	30	20	20	NUM
fsr-3187	213	31	0	0	NUM
fsr-3187	213	32	80	80	NUM
fsr-3187	213	33	2002	2002	NUM
fsr-3187	213	34	0	0	NUM
fsr-3187	213	35	89.4	89.4	NUM
fsr-3187	213	36	10.6	10.6	NUM
fsr-3187	213	37	2003	2003	NUM
fsr-3187	213	38	0	0	NUM
fsr-3187	213	39	0	0	NUM
fsr-3187	213	40	100	100	NUM
fsr-3187	213	41	2004	2004	NUM
fsr-3187	213	42	0	0	NUM
fsr-3187	214	1	10	10	NUM
fsr-3187	214	2	90	90	NUM
fsr-3187	214	3	2005	2005	NUM
fsr-3187	214	4	9	9	NUM
fsr-3187	214	5	0	0	NUM
fsr-3187	214	6	91	91	NUM
fsr-3187	214	7	2006	2006	NUM
fsr-3187	214	8	0	0	NUM
fsr-3187	214	9	0	0	NUM
fsr-3187	214	10	100	100	NUM
fsr-3187	214	11	2008	2008	NUM
fsr-3187	214	12	0	0	NUM
fsr-3187	214	13	0	0	NUM
fsr-3187	214	14	100	100	NUM
fsr-3187	214	15	2009	2009	NUM
fsr-3187	214	16	0	0	NUM
fsr-3187	214	17	0	0	NUM
fsr-3187	214	18	100	100	NUM
fsr-3187	214	19	2011	2011	NUM
fsr-3187	214	20	0	0	NUM
fsr-3187	214	21	0	0	NUM
fsr-3187	214	22	100	100	NUM
fsr-3187	214	23	note	note	NOUN
fsr-3187	214	24	.	.	PUNCT
fsr-3187	215	1	the	the	DET
fsr-3187	215	2	above	above	ADJ
fsr-3187	215	3	table	table	NOUN
fsr-3187	215	4	shows	show	VERB
fsr-3187	215	5	the	the	DET
fsr-3187	215	6	persistence	persistence	NOUN
fsr-3187	215	7	of	of	ADP
fsr-3187	215	8	performance	performance	NOUN
fsr-3187	215	9	of	of	ADP
fsr-3187	215	10	the	the	DET
fsr-3187	215	11	sample	sample	NOUN
fsr-3187	215	12	funds	fund	NOUN
fsr-3187	215	13	over	over	ADP
fsr-3187	215	14	the	the	DET
fsr-3187	215	15	period	period	NOUN
fsr-3187	215	16	1/2000	1/2000	NUM
fsr-3187	215	17	to	to	ADP
fsr-3187	215	18	12/2011	12/2011	NUM
fsr-3187	215	19	.	.	PUNCT
fsr-3187	216	1	every	every	DET
fsr-3187	216	2	year	year	NOUN
fsr-3187	216	3	,	,	PUNCT
fsr-3187	216	4	at	at	ADP
fsr-3187	216	5	the	the	DET
fsr-3187	216	6	beginning	beginning	NOUN
fsr-3187	216	7	of	of	ADP
fsr-3187	216	8	year	year	NOUN
fsr-3187	216	9	,	,	PUNCT
fsr-3187	216	10	sample	sample	NOUN
fsr-3187	216	11	funds	fund	NOUN
fsr-3187	216	12	are	be	AUX
fsr-3187	216	13	sorted	sort	VERB
fsr-3187	216	14	based	base	VERB
fsr-3187	216	15	on	on	ADP
fsr-3187	216	16	previous	previous	ADJ
fsr-3187	216	17	year	year	NOUN
fsr-3187	216	18	’s	’s	PART
fsr-3187	216	19	returns	return	NOUN
fsr-3187	216	20	and	and	CCONJ
fsr-3187	216	21	quintiles	quintile	NOUN
fsr-3187	216	22	are	be	AUX
fsr-3187	216	23	formed	form	VERB
fsr-3187	216	24	.	.	PUNCT
fsr-3187	217	1	q1	q1	PROPN
fsr-3187	217	2	is	be	AUX
fsr-3187	217	3	the	the	DET
fsr-3187	217	4	group	group	NOUN
fsr-3187	217	5	that	that	PRON
fsr-3187	217	6	consists	consist	VERB
fsr-3187	217	7	of	of	ADP
fsr-3187	217	8	funds	fund	NOUN
fsr-3187	217	9	that	that	PRON
fsr-3187	217	10	are	be	AUX
fsr-3187	217	11	ranked	rank	VERB
fsr-3187	217	12	as	as	ADP
fsr-3187	217	13	bottom	bottom	ADJ
fsr-3187	217	14	20	20	NUM
fsr-3187	217	15	%	%	NOUN
fsr-3187	217	16	funds	fund	NOUN
fsr-3187	217	17	based	base	VERB
fsr-3187	217	18	on	on	ADP
fsr-3187	217	19	previous	previous	ADJ
fsr-3187	217	20	year	year	NOUN
fsr-3187	217	21	’s	’s	PART
fsr-3187	217	22	annual	annual	ADJ
fsr-3187	217	23	returns	return	NOUN
fsr-3187	217	24	and	and	CCONJ
fsr-3187	217	25	q5	q5	PROPN
fsr-3187	217	26	is	be	AUX
fsr-3187	217	27	the	the	DET
fsr-3187	217	28	group	group	NOUN
fsr-3187	217	29	that	that	PRON
fsr-3187	217	30	consists	consist	VERB
fsr-3187	217	31	of	of	ADP
fsr-3187	217	32	funds	fund	NOUN
fsr-3187	217	33	that	that	PRON
fsr-3187	217	34	are	be	AUX
fsr-3187	217	35	ranked	rank	VERB
fsr-3187	217	36	as	as	ADP
fsr-3187	217	37	top	top	ADJ
fsr-3187	217	38	20	20	NUM
fsr-3187	217	39	%	%	NOUN
fsr-3187	217	40	funds	fund	NOUN
fsr-3187	217	41	based	base	VERB
fsr-3187	217	42	on	on	ADP
fsr-3187	217	43	previous	previous	ADJ
fsr-3187	217	44	year	year	NOUN
fsr-3187	217	45	’s	’s	PART
fsr-3187	217	46	annual	annual	ADJ
fsr-3187	217	47	returns	return	NOUN
fsr-3187	217	48	.	.	PUNCT
fsr-3187	218	1	this	this	DET
fsr-3187	218	2	step	step	NOUN
fsr-3187	218	3	is	be	AUX
fsr-3187	218	4	repeated	repeat	VERB
fsr-3187	218	5	every	every	DET
fsr-3187	218	6	year	year	NOUN
fsr-3187	218	7	.	.	PUNCT
fsr-3187	219	1	q1	q1	PROPN
fsr-3187	219	2	is	be	AUX
fsr-3187	219	3	a	a	DET
fsr-3187	219	4	series	series	NOUN
fsr-3187	219	5	of	of	ADP
fsr-3187	219	6	worst	bad	ADJ
fsr-3187	219	7	performing	perform	VERB
fsr-3187	219	8	funds	fund	NOUN
fsr-3187	219	9	and	and	CCONJ
fsr-3187	219	10	q5	q5	PROPN
fsr-3187	219	11	is	be	AUX
fsr-3187	219	12	a	a	DET
fsr-3187	219	13	series	series	NOUN
fsr-3187	219	14	of	of	ADP
fsr-3187	219	15	best	good	ADJ
fsr-3187	219	16	performing	performing	NOUN
fsr-3187	219	17	funds	fund	NOUN
fsr-3187	219	18	.	.	PUNCT
fsr-3187	220	1	a	a	DET
fsr-3187	220	2	positive	positive	ADJ
fsr-3187	220	3	"	"	PUNCT
fsr-3187	220	4	of	of	ADP
fsr-3187	220	5	q5	q5	PROPN
fsr-3187	220	6	and	and	CCONJ
fsr-3187	220	7	a	a	DET
fsr-3187	220	8	negative	negative	ADJ
fsr-3187	220	9	"	"	PUNCT
fsr-3187	220	10	of	of	ADP
fsr-3187	220	11	q1	q1	NOUN
fsr-3187	220	12	based	base	VERB
fsr-3187	220	13	on	on	ADP
fsr-3187	220	14	the	the	DET
fsr-3187	220	15	four	four	NUM
fsr-3187	220	16	-	-	PUNCT
fsr-3187	220	17	factor	factor	NOUN
fsr-3187	220	18	carhart	carhart	NOUN
fsr-3187	220	19	model	model	NOUN
fsr-3187	220	20	indicate	indicate	VERB
fsr-3187	220	21	persistence	persistence	NOUN
fsr-3187	220	22	of	of	ADP
fsr-3187	220	23	performance	performance	NOUN
fsr-3187	220	24	.	.	PUNCT
fsr-3187	221	1	panel	panel	NOUN
fsr-3187	221	2	a	a	DET
fsr-3187	221	3	reposts	repost	NOUN
fsr-3187	221	4	persistence	persistence	NOUN
fsr-3187	221	5	of	of	ADP
fsr-3187	221	6	performance	performance	NOUN
fsr-3187	221	7	for	for	ADP
fsr-3187	221	8	q1	q1	PROPN
fsr-3187	221	9	and	and	CCONJ
fsr-3187	221	10	panel	panel	NOUN
fsr-3187	221	11	b	b	PROPN
fsr-3187	221	12	reports	report	VERB
fsr-3187	221	13	the	the	DET
fsr-3187	221	14	same	same	ADJ
fsr-3187	221	15	for	for	ADP
fsr-3187	221	16	q5	q5	PROPN
fsr-3187	221	17	.	.	PUNCT
fsr-3187	222	1	panels	panel	NOUN
fsr-3187	222	2	c	c	PROPN
fsr-3187	222	3	and	and	CCONJ
fsr-3187	222	4	d	d	PROPN
fsr-3187	222	5	show	show	VERB
fsr-3187	222	6	short	short	ADJ
fsr-3187	222	7	term	term	NOUN
fsr-3187	222	8	persistence	persistence	NOUN
fsr-3187	222	9	of	of	ADP
fsr-3187	222	10	performance	performance	NOUN
fsr-3187	222	11	for	for	ADP
fsr-3187	222	12	q5	q5	PROPN
fsr-3187	222	13	and	and	CCONJ
fsr-3187	222	14	q1	q1	PROPN
fsr-3187	222	15	portfolios	portfolio	NOUN
fsr-3187	222	16	,	,	PUNCT
fsr-3187	222	17	respectively	respectively	ADV
fsr-3187	222	18	.	.	PUNCT
fsr-3187	223	1	results	result	NOUN
fsr-3187	223	2	are	be	AUX
fsr-3187	223	3	based	base	VERB
fsr-3187	223	4	on	on	ADP
fsr-3187	223	5	newey	newey	PROPN
fsr-3187	223	6	-	-	PUNCT
fsr-3187	223	7	west	west	PROPN
fsr-3187	223	8	heteroscedasticity	heteroscedasticity	PROPN
fsr-3187	223	9	and	and	CCONJ
fsr-3187	223	10	autocorrelation	autocorrelation	NOUN
fsr-3187	223	11	adjusted	adjust	VERB
fsr-3187	223	12	standard	standard	ADJ
fsr-3187	223	13	errors	error	NOUN
fsr-3187	223	14	.	.	PUNCT
fsr-3187	224	1	n	n	PRON
fsr-3187	224	2	is	be	AUX
fsr-3187	224	3	the	the	DET
fsr-3187	224	4	number	number	NOUN
fsr-3187	224	5	of	of	ADP
fsr-3187	224	6	fund	fund	NOUN
fsr-3187	224	7	month	month	NOUN
fsr-3187	224	8	observations	observation	NOUN
fsr-3187	224	9	.	.	PUNCT
fsr-3187	225	1	note	note	NOUN
fsr-3187	225	2	.	.	PUNCT
fsr-3187	226	1	model	model	NOUN
fsr-3187	226	2	:	:	PUNCT
fsr-3187	226	3	rit	rit	PROPN
fsr-3187	226	4	#	#	PROPN
fsr-3187	226	5	rft	rft	NOUN
fsr-3187	226	6	$	$	NOUN
fsr-3187	226	7	"	"	PUNCT
fsr-3187	226	8	i	i	PRON
fsr-3187	226	9	"	"	PUNCT
fsr-3187	226	10	!	!	PUNCT
fsr-3187	227	1	1i	1i	NOUN
fsr-3187	227	2	!	!	PUNCT
fsr-3187	228	1	rmrft	rmrft	NOUN
fsr-3187	228	2	"	"	PUNCT
fsr-3187	228	3	!	!	PUNCT
fsr-3187	229	1	2i	2i	NOUN
fsr-3187	229	2	!	!	PUNCT
fsr-3187	230	1	smbt	smbt	NOUN
fsr-3187	230	2	"	"	PUNCT
fsr-3187	230	3	!	!	PUNCT
fsr-3187	231	1	3i	3i	NOUN
fsr-3187	231	2	!	!	PUNCT
fsr-3187	232	1	hmlt	hmlt	PROPN
fsr-3187	232	2	"	"	PUNCT
fsr-3187	232	3	!	!	PUNCT
fsr-3187	233	1	4i	4i	NOUN
fsr-3187	233	2	!	!	PUNCT
fsr-3187	234	1	momt	momt	ADJ
fsr-3187	234	2	"	"	PUNCT
fsr-3187	234	3	&	&	CCONJ
fsr-3187	234	4	i	i	PROPN
fsr-3187	234	5	,	,	PUNCT
fsr-3187	234	6	t.	t.	PROPN
fsr-3187	234	7	*	*	PUNCT
fsr-3187	235	1	*	*	PUNCT
fsr-3187	236	1	*	*	PUNCT
fsr-3187	236	2	and	and	CCONJ
fsr-3187	236	3	*	*	AUX
fsr-3187	236	4	*	*	PUNCT
fsr-3187	236	5	show	show	VERB
fsr-3187	236	6	the	the	DET
fsr-3187	236	7	significance	significance	NOUN
fsr-3187	236	8	at	at	ADP
fsr-3187	236	9	1	1	NUM
fsr-3187	236	10	%	%	NOUN
fsr-3187	236	11	and	and	CCONJ
fsr-3187	236	12	5	5	NUM
fsr-3187	236	13	%	%	NOUN
fsr-3187	236	14	level	level	NOUN
fsr-3187	236	15	,	,	PUNCT
fsr-3187	236	16	respectively	respectively	ADV
fsr-3187	236	17	.	.	PUNCT
fsr-3187	237	1	86	86	NUM
fsr-3187	237	2	a.	a.	NOUN
fsr-3187	237	3	kaushik	kaushik	PROPN
fsr-3187	237	4	et	et	PROPN
fsr-3187	237	5	al	al	PROPN
fsr-3187	237	6	.	.	PUNCT
fsr-3187	237	7	/	/	SYM
fsr-3187	237	8	financial	financial	ADJ
fsr-3187	237	9	services	service	NOUN
fsr-3187	237	10	review	review	VERB
fsr-3187	237	11	23	23	NUM
fsr-3187	237	12	(	(	PUNCT
fsr-3187	237	13	2014	2014	NUM
fsr-3187	237	14	)	)	PUNCT
fsr-3187	237	15	77–91	77–91	NUM
fsr-3187	237	16	year	year	NOUN
fsr-3187	237	17	’s	’s	PART
fsr-3187	237	18	annual	annual	ADJ
fsr-3187	237	19	returns	return	NOUN
fsr-3187	237	20	whereas	whereas	SCONJ
fsr-3187	237	21	panel	panel	NOUN
fsr-3187	237	22	b	b	PROPN
fsr-3187	237	23	reports	report	VERB
fsr-3187	237	24	"	"	PUNCT
fsr-3187	237	25	value	value	NOUN
fsr-3187	237	26	of	of	ADP
fsr-3187	237	27	those	those	DET
fsr-3187	237	28	funds	fund	NOUN
fsr-3187	237	29	that	that	PRON
fsr-3187	237	30	were	be	AUX
fsr-3187	237	31	ranked	rank	VERB
fsr-3187	237	32	in	in	ADP
fsr-3187	237	33	the	the	DET
fsr-3187	237	34	top	top	ADJ
fsr-3187	237	35	20	20	NUM
fsr-3187	237	36	%	%	NOUN
fsr-3187	237	37	based	base	VERB
fsr-3187	237	38	on	on	ADP
fsr-3187	237	39	their	their	PRON
fsr-3187	237	40	previous	previous	ADJ
fsr-3187	237	41	year	year	NOUN
fsr-3187	237	42	’s	’s	PART
fsr-3187	237	43	annual	annual	ADJ
fsr-3187	237	44	returns	return	NOUN
fsr-3187	237	45	.	.	PUNCT
fsr-3187	238	1	a	a	DET
fsr-3187	238	2	negative	negative	ADJ
fsr-3187	238	3	"	"	PUNCT
fsr-3187	238	4	for	for	ADP
fsr-3187	238	5	q1	q1	PROPN
fsr-3187	238	6	and	and	CCONJ
fsr-3187	238	7	a	a	DET
fsr-3187	238	8	positive	positive	ADJ
fsr-3187	238	9	"	"	PUNCT
fsr-3187	238	10	for	for	ADP
fsr-3187	238	11	q5	q5	PROPN
fsr-3187	238	12	suggest	suggest	VERB
fsr-3187	238	13	that	that	SCONJ
fsr-3187	238	14	performance	performance	NOUN
fsr-3187	238	15	persists	persist	VERB
fsr-3187	238	16	.	.	PUNCT
fsr-3187	239	1	results	result	NOUN
fsr-3187	239	2	in	in	ADP
fsr-3187	239	3	panel	panel	NOUN
fsr-3187	239	4	a	a	DET
fsr-3187	239	5	show	show	NOUN
fsr-3187	239	6	a	a	DET
fsr-3187	239	7	positive	positive	ADJ
fsr-3187	239	8	value	value	NOUN
fsr-3187	239	9	of	of	ADP
fsr-3187	239	10	0.0215	0.0215	NUM
fsr-3187	239	11	%	%	NOUN
fsr-3187	239	12	value	value	NOUN
fsr-3187	239	13	of	of	ADP
fsr-3187	239	14	"	"	PUNCT
fsr-3187	239	15	(	(	PUNCT
fsr-3187	239	16	0.258	0.258	NUM
fsr-3187	239	17	%	%	NOUN
fsr-3187	239	18	per	per	ADP
fsr-3187	239	19	year	year	NOUN
fsr-3187	239	20	)	)	PUNCT
fsr-3187	239	21	,	,	PUNCT
fsr-3187	239	22	however	however	ADV
fsr-3187	239	23	,	,	PUNCT
fsr-3187	239	24	it	it	PRON
fsr-3187	239	25	is	be	AUX
fsr-3187	239	26	statistically	statistically	ADV
fsr-3187	239	27	insignificant	insignificant	ADJ
fsr-3187	239	28	.	.	PUNCT
fsr-3187	240	1	results	result	NOUN
fsr-3187	240	2	in	in	ADP
fsr-3187	240	3	panel	panel	NOUN
fsr-3187	240	4	b	b	PROPN
fsr-3187	240	5	show	show	VERB
fsr-3187	240	6	a	a	DET
fsr-3187	240	7	positive	positive	ADJ
fsr-3187	240	8	"	"	PUNCT
fsr-3187	240	9	value	value	NOUN
fsr-3187	240	10	of	of	ADP
fsr-3187	240	11	0.0547	0.0547	NUM
fsr-3187	240	12	%	%	NOUN
fsr-3187	240	13	per	per	ADP
fsr-3187	240	14	month	month	NOUN
fsr-3187	240	15	(	(	PUNCT
fsr-3187	240	16	0.656	0.656	NUM
fsr-3187	240	17	%	%	NOUN
fsr-3187	240	18	per	per	ADP
fsr-3187	240	19	year	year	NOUN
fsr-3187	240	20	)	)	PUNCT
fsr-3187	240	21	,	,	PUNCT
fsr-3187	240	22	but	but	CCONJ
fsr-3187	240	23	it	it	PRON
fsr-3187	240	24	is	be	AUX
fsr-3187	240	25	also	also	ADV
fsr-3187	240	26	statistically	statistically	ADV
fsr-3187	240	27	insignificant	insignificant	ADJ
fsr-3187	240	28	.	.	PUNCT
fsr-3187	241	1	the	the	DET
fsr-3187	241	2	results	result	NOUN
fsr-3187	241	3	in	in	ADP
fsr-3187	241	4	table	table	NOUN
fsr-3187	241	5	3	3	NUM
fsr-3187	241	6	show	show	VERB
fsr-3187	241	7	that	that	SCONJ
fsr-3187	241	8	performance	performance	NOUN
fsr-3187	241	9	of	of	ADP
fsr-3187	241	10	both	both	DET
fsr-3187	241	11	losers	loser	NOUN
fsr-3187	241	12	and	and	CCONJ
fsr-3187	241	13	winners	winner	NOUN
fsr-3187	241	14	is	be	AUX
fsr-3187	241	15	mean	mean	ADV
fsr-3187	241	16	reverting	revert	VERB
fsr-3187	241	17	and	and	CCONJ
fsr-3187	241	18	does	do	AUX
fsr-3187	241	19	not	not	PART
fsr-3187	241	20	persist	persist	VERB
fsr-3187	241	21	in	in	ADP
fsr-3187	241	22	the	the	DET
fsr-3187	241	23	subsequent	subsequent	ADJ
fsr-3187	241	24	periods	period	NOUN
fsr-3187	241	25	.	.	PUNCT
fsr-3187	242	1	in	in	ADP
fsr-3187	242	2	other	other	ADJ
fsr-3187	242	3	words	word	NOUN
fsr-3187	242	4	,	,	PUNCT
fsr-3187	242	5	a	a	DET
fsr-3187	242	6	theoretical	theoretical	ADJ
fsr-3187	242	7	long	long	ADJ
fsr-3187	242	8	position	position	NOUN
fsr-3187	242	9	in	in	ADP
fsr-3187	242	10	past	past	ADJ
fsr-3187	242	11	winners	winner	NOUN
fsr-3187	242	12	and	and	CCONJ
fsr-3187	242	13	a	a	DET
fsr-3187	242	14	short	short	ADJ
fsr-3187	242	15	position	position	NOUN
fsr-3187	242	16	in	in	ADP
fsr-3187	242	17	past	past	ADJ
fsr-3187	242	18	losers	loser	NOUN
fsr-3187	242	19	will	will	AUX
fsr-3187	242	20	not	not	PART
fsr-3187	242	21	deliver	deliver	VERB
fsr-3187	242	22	a	a	DET
fsr-3187	242	23	net	net	ADJ
fsr-3187	242	24	positive	positive	ADJ
fsr-3187	242	25	superior	superior	NOUN
fsr-3187	242	26	"	"	PUNCT
fsr-3187	242	27	to	to	PART
fsr-3187	242	28	fund	fund	VERB
fsr-3187	242	29	investors	investor	NOUN
fsr-3187	242	30	.	.	PUNCT
fsr-3187	243	1	the	the	DET
fsr-3187	243	2	results	result	NOUN
fsr-3187	243	3	are	be	AUX
fsr-3187	243	4	consistent	consistent	ADJ
fsr-3187	243	5	with	with	ADP
fsr-3187	243	6	the	the	DET
fsr-3187	243	7	findings	finding	NOUN
fsr-3187	243	8	of	of	ADP
fsr-3187	243	9	saap	saap	PROPN
fsr-3187	243	10	and	and	CCONJ
fsr-3187	243	11	tiwari	tiwari	PROPN
fsr-3187	243	12	(	(	PUNCT
fsr-3187	243	13	2004	2004	NUM
fsr-3187	243	14	)	)	PUNCT
fsr-3187	243	15	and	and	CCONJ
fsr-3187	243	16	berk	berk	PROPN
fsr-3187	243	17	and	and	CCONJ
fsr-3187	243	18	green	green	ADJ
fsr-3187	243	19	(	(	PUNCT
fsr-3187	243	20	2004	2004	NUM
fsr-3187	243	21	)	)	PUNCT
fsr-3187	243	22	who	who	PRON
fsr-3187	243	23	documented	document	VERB
fsr-3187	243	24	that	that	SCONJ
fsr-3187	243	25	non	non	ADJ
fsr-3187	243	26	-	-	NOUN
fsr-3187	243	27	persistence	persistence	NOUN
fsr-3187	243	28	of	of	ADP
fsr-3187	243	29	performance	performance	NOUN
fsr-3187	243	30	for	for	ADP
fsr-3187	243	31	well	well	ADV
fsr-3187	243	32	-	-	PUNCT
fsr-3187	243	33	diversified	diversify	VERB
fsr-3187	243	34	mutual	mutual	ADJ
fsr-3187	243	35	funds	fund	NOUN
fsr-3187	243	36	.	.	PUNCT
fsr-3187	244	1	results	result	NOUN
fsr-3187	244	2	also	also	ADV
fsr-3187	244	3	go	go	VERB
fsr-3187	244	4	against	against	ADP
fsr-3187	244	5	the	the	DET
fsr-3187	244	6	common	common	ADJ
fsr-3187	244	7	notion	notion	NOUN
fsr-3187	244	8	that	that	SCONJ
fsr-3187	244	9	fund	fund	NOUN
fsr-3187	244	10	managers	manager	NOUN
fsr-3187	244	11	of	of	ADP
fsr-3187	244	12	specialized	specialized	ADJ
fsr-3187	244	13	funds	fund	NOUN
fsr-3187	244	14	such	such	ADJ
fsr-3187	244	15	as	as	ADP
fsr-3187	244	16	healthcare	healthcare	NOUN
fsr-3187	244	17	funds	fund	NOUN
fsr-3187	244	18	are	be	AUX
fsr-3187	244	19	“	"	PUNCT
fsr-3187	244	20	"	"	PUNCT
fsr-3187	244	21	”	"	PUNCT
fsr-3187	244	22	managers	manager	NOUN
fsr-3187	244	23	because	because	SCONJ
fsr-3187	244	24	they	they	PRON
fsr-3187	244	25	have	have	VERB
fsr-3187	244	26	more	more	ADJ
fsr-3187	244	27	insight	insight	NOUN
fsr-3187	244	28	on	on	ADP
fsr-3187	244	29	the	the	DET
fsr-3187	244	30	stocks	stock	NOUN
fsr-3187	244	31	of	of	ADP
fsr-3187	244	32	these	these	DET
fsr-3187	244	33	sectors	sector	NOUN
fsr-3187	244	34	and	and	CCONJ
fsr-3187	244	35	therefore	therefore	ADV
fsr-3187	244	36	they	they	PRON
fsr-3187	244	37	,	,	PUNCT
fsr-3187	244	38	especially	especially	ADV
fsr-3187	244	39	the	the	DET
fsr-3187	244	40	winners	winner	NOUN
fsr-3187	244	41	,	,	PUNCT
fsr-3187	244	42	should	should	AUX
fsr-3187	244	43	be	be	AUX
fsr-3187	244	44	able	able	ADJ
fsr-3187	244	45	to	to	PART
fsr-3187	244	46	outperform	outperform	VERB
fsr-3187	244	47	passive	passive	ADJ
fsr-3187	244	48	benchmarks	benchmark	NOUN
fsr-3187	244	49	over	over	ADP
fsr-3187	244	50	the	the	DET
fsr-3187	244	51	subsequent	subsequent	ADJ
fsr-3187	244	52	periods	period	NOUN
fsr-3187	244	53	.	.	PUNCT
fsr-3187	245	1	results	result	NOUN
fsr-3187	245	2	of	of	ADP
fsr-3187	245	3	this	this	DET
fsr-3187	245	4	study	study	NOUN
fsr-3187	245	5	show	show	VERB
fsr-3187	245	6	that	that	SCONJ
fsr-3187	245	7	investors	investor	NOUN
fsr-3187	245	8	in	in	ADP
fsr-3187	245	9	healthcare	healthcare	NOUN
fsr-3187	245	10	funds	fund	NOUN
fsr-3187	245	11	do	do	AUX
fsr-3187	245	12	not	not	PART
fsr-3187	245	13	enjoy	enjoy	VERB
fsr-3187	245	14	superior	superior	ADJ
fsr-3187	245	15	"	"	PUNCT
fsr-3187	245	16	s	s	VERB
fsr-3187	245	17	consistently	consistently	ADV
fsr-3187	245	18	.	.	PUNCT
fsr-3187	246	1	the	the	DET
fsr-3187	246	2	most	most	ADV
fsr-3187	246	3	important	important	ADJ
fsr-3187	246	4	coefficient	coefficient	NOUN
fsr-3187	246	5	of	of	ADP
fsr-3187	246	6	interest	interest	NOUN
fsr-3187	246	7	is	be	AUX
fsr-3187	246	8	"	"	PUNCT
fsr-3187	246	9	;	;	PUNCT
fsr-3187	246	10	however	however	ADV
fsr-3187	246	11	,	,	PUNCT
fsr-3187	246	12	we	we	PRON
fsr-3187	246	13	are	be	AUX
fsr-3187	246	14	also	also	ADV
fsr-3187	246	15	interested	interested	ADJ
fsr-3187	246	16	to	to	PART
fsr-3187	246	17	see	see	VERB
fsr-3187	246	18	how	how	SCONJ
fsr-3187	246	19	!	!	PUNCT
fsr-3187	247	1	loadings	loading	NOUN
fsr-3187	247	2	affect	affect	VERB
fsr-3187	247	3	excess	excess	ADJ
fsr-3187	247	4	returns	return	NOUN
fsr-3187	247	5	earned	earn	VERB
fsr-3187	247	6	by	by	ADP
fsr-3187	247	7	q1	q1	PROPN
fsr-3187	247	8	and	and	CCONJ
fsr-3187	247	9	q5	q5	PROPN
fsr-3187	247	10	portfolios	portfolio	NOUN
fsr-3187	247	11	.	.	PUNCT
fsr-3187	248	1	a	a	DET
fsr-3187	248	2	closer	close	ADJ
fsr-3187	248	3	inspection	inspection	NOUN
fsr-3187	248	4	of	of	ADP
fsr-3187	248	5	results	result	NOUN
fsr-3187	248	6	in	in	ADP
fsr-3187	248	7	panels	panel	NOUN
fsr-3187	248	8	a	a	PRON
fsr-3187	248	9	and	and	CCONJ
fsr-3187	248	10	b	b	NOUN
fsr-3187	248	11	shows	show	VERB
fsr-3187	248	12	very	very	ADV
fsr-3187	248	13	similar	similar	ADJ
fsr-3187	248	14	pattern	pattern	NOUN
fsr-3187	248	15	for	for	ADP
fsr-3187	248	16	rmrf	rmrf	NOUN
fsr-3187	248	17	,	,	PUNCT
fsr-3187	248	18	hml	hml	PROPN
fsr-3187	248	19	,	,	PUNCT
fsr-3187	248	20	and	and	CCONJ
fsr-3187	248	21	mom	mom	NOUN
fsr-3187	248	22	factors	factor	NOUN
fsr-3187	248	23	;	;	PUNCT
fsr-3187	248	24	however	however	ADV
fsr-3187	248	25	,	,	PUNCT
fsr-3187	248	26	the	the	DET
fsr-3187	248	27	coefficient	coefficient	NOUN
fsr-3187	248	28	of	of	ADP
fsr-3187	248	29	smb	smb	PROPN
fsr-3187	248	30	is	be	AUX
fsr-3187	248	31	negative	negative	ADJ
fsr-3187	248	32	and	and	CCONJ
fsr-3187	248	33	highly	highly	ADV
fsr-3187	248	34	significant	significant	ADJ
fsr-3187	248	35	for	for	ADP
fsr-3187	248	36	q1	q1	NOUN
fsr-3187	248	37	whereas	whereas	SCONJ
fsr-3187	248	38	it	it	PRON
fsr-3187	248	39	is	be	AUX
fsr-3187	248	40	positive	positive	ADJ
fsr-3187	248	41	and	and	CCONJ
fsr-3187	248	42	statistically	statistically	ADV
fsr-3187	248	43	highly	highly	ADV
fsr-3187	248	44	significant	significant	ADJ
fsr-3187	248	45	for	for	ADP
fsr-3187	248	46	q5	q5	PROPN
fsr-3187	248	47	.	.	PUNCT
fsr-3187	249	1	these	these	DET
fsr-3187	249	2	diametrically	diametrically	ADV
fsr-3187	249	3	opposite	opposite	ADJ
fsr-3187	249	4	coefficients	coefficient	NOUN
fsr-3187	249	5	of	of	ADP
fsr-3187	249	6	smb	smb	NOUN
fsr-3187	249	7	for	for	ADP
fsr-3187	249	8	q1	q1	PROPN
fsr-3187	249	9	and	and	CCONJ
fsr-3187	249	10	q5	q5	PROPN
fsr-3187	249	11	suggest	suggest	VERB
fsr-3187	249	12	that	that	SCONJ
fsr-3187	249	13	q1	q1	NOUN
fsr-3187	249	14	excess	excess	ADJ
fsr-3187	249	15	returns	return	NOUN
fsr-3187	249	16	are	be	AUX
fsr-3187	249	17	negatively	negatively	ADV
fsr-3187	249	18	affected	affect	VERB
fsr-3187	249	19	by	by	ADP
fsr-3187	249	20	size	size	NOUN
fsr-3187	249	21	whereas	whereas	SCONJ
fsr-3187	249	22	q5	q5	PROPN
fsr-3187	249	23	excess	excess	ADJ
fsr-3187	249	24	returns	return	NOUN
fsr-3187	249	25	increase	increase	VERB
fsr-3187	249	26	with	with	ADP
fsr-3187	249	27	small	small	ADJ
fsr-3187	249	28	size	size	NOUN
fsr-3187	249	29	bias	bias	NOUN
fsr-3187	249	30	.	.	PUNCT
fsr-3187	250	1	5.2.2	5.2.2	NUM
fsr-3187	250	2	.	.	PUNCT
fsr-3187	250	3	short	short	ADJ
fsr-3187	250	4	term	term	NOUN
fsr-3187	250	5	persistence	persistence	NOUN
fsr-3187	250	6	of	of	ADP
fsr-3187	250	7	performance	performance	NOUN
fsr-3187	250	8	because	because	SCONJ
fsr-3187	250	9	persistence	persistence	NOUN
fsr-3187	250	10	of	of	ADP
fsr-3187	250	11	performance	performance	NOUN
fsr-3187	250	12	was	be	AUX
fsr-3187	250	13	not	not	PART
fsr-3187	250	14	visible	visible	ADJ
fsr-3187	250	15	in	in	ADP
fsr-3187	250	16	long	long	ADJ
fsr-3187	250	17	term	term	NOUN
fsr-3187	250	18	,	,	PUNCT
fsr-3187	250	19	therefore	therefore	ADV
fsr-3187	250	20	,	,	PUNCT
fsr-3187	250	21	we	we	PRON
fsr-3187	250	22	also	also	ADV
fsr-3187	250	23	evaluated	evaluate	VERB
fsr-3187	250	24	whether	whether	SCONJ
fsr-3187	250	25	performance	performance	NOUN
fsr-3187	250	26	persists	persist	VERB
fsr-3187	250	27	in	in	ADP
fsr-3187	250	28	short	short	ADJ
fsr-3187	250	29	term	term	NOUN
fsr-3187	250	30	or	or	CCONJ
fsr-3187	250	31	not	not	PART
fsr-3187	250	32	by	by	ADP
fsr-3187	250	33	using	use	VERB
fsr-3187	250	34	the	the	DET
fsr-3187	250	35	four	four	NUM
fsr-3187	250	36	-	-	PUNCT
fsr-3187	250	37	factor	factor	NOUN
fsr-3187	250	38	model	model	NOUN
fsr-3187	250	39	.	.	PUNCT
fsr-3187	251	1	results	result	NOUN
fsr-3187	251	2	in	in	ADP
fsr-3187	251	3	panels	panel	NOUN
fsr-3187	251	4	c	c	PROPN
fsr-3187	251	5	and	and	CCONJ
fsr-3187	251	6	d	d	PROPN
fsr-3187	251	7	(	(	PUNCT
fsr-3187	251	8	table	table	NOUN
fsr-3187	251	9	3	3	NUM
fsr-3187	251	10	)	)	PUNCT
fsr-3187	251	11	show	show	VERB
fsr-3187	251	12	that	that	SCONJ
fsr-3187	251	13	short	short	ADJ
fsr-3187	251	14	term	term	NOUN
fsr-3187	251	15	persistence	persistence	NOUN
fsr-3187	251	16	is	be	AUX
fsr-3187	251	17	only	only	ADV
fsr-3187	251	18	thinly	thinly	ADV
fsr-3187	251	19	visible	visible	ADJ
fsr-3187	251	20	.	.	PUNCT
fsr-3187	252	1	only	only	ADV
fsr-3187	252	2	25	25	NUM
fsr-3187	252	3	%	%	NOUN
fsr-3187	252	4	of	of	ADP
fsr-3187	252	5	funds	fund	NOUN
fsr-3187	252	6	that	that	PRON
fsr-3187	252	7	earned	earn	VERB
fsr-3187	252	8	positive	positive	ADJ
fsr-3187	252	9	"	"	PUNCT
fsr-3187	252	10	in	in	ADP
fsr-3187	252	11	year	year	NOUN
fsr-3187	252	12	2000	2000	NUM
fsr-3187	252	13	(	(	PUNCT
fsr-3187	252	14	the	the	DET
fsr-3187	252	15	first	first	ADJ
fsr-3187	252	16	year	year	NOUN
fsr-3187	252	17	of	of	ADP
fsr-3187	252	18	this	this	DET
fsr-3187	252	19	study	study	NOUN
fsr-3187	252	20	)	)	PUNCT
fsr-3187	252	21	continued	continue	VERB
fsr-3187	252	22	to	to	PART
fsr-3187	252	23	earn	earn	VERB
fsr-3187	252	24	positive	positive	ADJ
fsr-3187	252	25	"	"	PUNCT
fsr-3187	252	26	in	in	ADP
fsr-3187	252	27	the	the	DET
fsr-3187	252	28	next	next	ADJ
fsr-3187	252	29	period	period	NOUN
fsr-3187	252	30	,	,	PUNCT
fsr-3187	252	31	year	year	NOUN
fsr-3187	252	32	2001	2001	NUM
fsr-3187	252	33	,	,	PUNCT
fsr-3187	252	34	whereas	whereas	SCONJ
fsr-3187	252	35	75	75	NUM
fsr-3187	252	36	%	%	NOUN
fsr-3187	252	37	of	of	ADP
fsr-3187	252	38	those	those	DET
fsr-3187	252	39	positive	positive	ADJ
fsr-3187	252	40	"	"	PUNCT
fsr-3187	252	41	funds	fund	NOUN
fsr-3187	252	42	returned	return	VERB
fsr-3187	252	43	insignificant	insignificant	ADJ
fsr-3187	252	44	"	"	PUNCT
fsr-3187	252	45	s	s	NOUN
fsr-3187	252	46	in	in	ADP
fsr-3187	252	47	the	the	DET
fsr-3187	252	48	next	next	ADJ
fsr-3187	252	49	period	period	NOUN
fsr-3187	252	50	,	,	PUNCT
fsr-3187	252	51	year	year	NOUN
fsr-3187	252	52	2001	2001	NUM
fsr-3187	252	53	.	.	PUNCT
fsr-3187	253	1	the	the	DET
fsr-3187	253	2	short	short	ADJ
fsr-3187	253	3	term	term	NOUN
fsr-3187	253	4	persistence	persistence	NOUN
fsr-3187	253	5	results	result	NOUN
fsr-3187	253	6	vary	vary	VERB
fsr-3187	253	7	from	from	ADP
fsr-3187	253	8	year	year	NOUN
fsr-3187	253	9	to	to	ADP
fsr-3187	253	10	year	year	NOUN
fsr-3187	253	11	.	.	PUNCT
fsr-3187	254	1	for	for	ADP
fsr-3187	254	2	example	example	NOUN
fsr-3187	254	3	,	,	PUNCT
fsr-3187	254	4	in	in	ADP
fsr-3187	254	5	year	year	NOUN
fsr-3187	254	6	2002	2002	NUM
fsr-3187	254	7	,	,	PUNCT
fsr-3187	254	8	55.6	55.6	NUM
fsr-3187	254	9	%	%	NOUN
fsr-3187	254	10	of	of	ADP
fsr-3187	254	11	those	those	DET
fsr-3187	254	12	funds	fund	NOUN
fsr-3187	254	13	that	that	PRON
fsr-3187	254	14	earned	earn	VERB
fsr-3187	254	15	positive	positive	ADJ
fsr-3187	254	16	"	"	PUNCT
fsr-3187	254	17	in	in	ADP
fsr-3187	254	18	year	year	NOUN
fsr-3187	254	19	2001	2001	NUM
fsr-3187	254	20	earned	earn	VERB
fsr-3187	254	21	negative	negative	ADJ
fsr-3187	254	22	"	"	PUNCT
fsr-3187	254	23	in	in	ADP
fsr-3187	254	24	year	year	NOUN
fsr-3187	254	25	2002	2002	NUM
fsr-3187	254	26	whereas	whereas	SCONJ
fsr-3187	254	27	44.4	44.4	NUM
fsr-3187	254	28	%	%	NOUN
fsr-3187	254	29	of	of	ADP
fsr-3187	254	30	those	those	DET
fsr-3187	254	31	funds	fund	NOUN
fsr-3187	254	32	earned	earn	VERB
fsr-3187	254	33	insignificant	insignificant	ADJ
fsr-3187	254	34	"	"	PUNCT
fsr-3187	254	35	in	in	ADP
fsr-3187	254	36	year	year	NOUN
fsr-3187	254	37	2002	2002	NUM
fsr-3187	254	38	.	.	PUNCT
fsr-3187	255	1	no	no	DET
fsr-3187	255	2	fund	fund	NOUN
fsr-3187	255	3	was	be	AUX
fsr-3187	255	4	able	able	ADJ
fsr-3187	255	5	to	to	PART
fsr-3187	255	6	repeat	repeat	VERB
fsr-3187	255	7	its	its	PRON
fsr-3187	255	8	positive	positive	ADJ
fsr-3187	255	9	performance	performance	NOUN
fsr-3187	255	10	in	in	ADP
fsr-3187	255	11	year	year	NOUN
fsr-3187	255	12	2002	2002	NUM
fsr-3187	255	13	.	.	PUNCT
fsr-3187	256	1	similar	similar	ADJ
fsr-3187	256	2	results	result	NOUN
fsr-3187	256	3	were	be	AUX
fsr-3187	256	4	obtained	obtain	VERB
fsr-3187	256	5	for	for	ADP
fsr-3187	256	6	those	those	DET
fsr-3187	256	7	funds	fund	NOUN
fsr-3187	256	8	that	that	PRON
fsr-3187	256	9	earned	earn	VERB
fsr-3187	256	10	lowest	low	ADJ
fsr-3187	256	11	"	"	PUNCT
fsr-3187	256	12	s	s	NOUN
fsr-3187	256	13	in	in	ADP
fsr-3187	256	14	the	the	DET
fsr-3187	256	15	previous	previous	ADJ
fsr-3187	256	16	period	period	NOUN
fsr-3187	256	17	.	.	PUNCT
fsr-3187	257	1	results	result	NOUN
fsr-3187	257	2	of	of	ADP
fsr-3187	257	3	panels	panel	NOUN
fsr-3187	257	4	c	c	PROPN
fsr-3187	257	5	and	and	CCONJ
fsr-3187	257	6	d	d	PROPN
fsr-3187	257	7	of	of	ADP
fsr-3187	257	8	table	table	NOUN
fsr-3187	257	9	3	3	NUM
fsr-3187	257	10	confirm	confirm	VERB
fsr-3187	257	11	that	that	SCONJ
fsr-3187	257	12	healthcare	healthcare	NOUN
fsr-3187	257	13	funds	fund	NOUN
fsr-3187	257	14	were	be	AUX
fsr-3187	257	15	not	not	PART
fsr-3187	257	16	able	able	ADJ
fsr-3187	257	17	to	to	PART
fsr-3187	257	18	repeat	repeat	VERB
fsr-3187	257	19	their	their	PRON
fsr-3187	257	20	overor	overor	NOUN
fsr-3187	257	21	under	under	NOUN
fsr-3187	257	22	-	-	PUNCT
fsr-3187	257	23	performance	performance	NOUN
fsr-3187	257	24	and	and	CCONJ
fsr-3187	257	25	prove	prove	VERB
fsr-3187	257	26	that	that	PRON
fsr-3187	257	27	performance	performance	NOUN
fsr-3187	257	28	is	be	AUX
fsr-3187	257	29	a	a	DET
fsr-3187	257	30	random	random	ADJ
fsr-3187	257	31	event	event	NOUN
fsr-3187	257	32	.	.	PUNCT
fsr-3187	258	1	5.3	5.3	NUM
fsr-3187	258	2	.	.	X
fsr-3187	259	1	cross	cross	ADJ
fsr-3187	259	2	-	-	ADJ
fsr-3187	259	3	sectional	sectional	ADJ
fsr-3187	259	4	analysis	analysis	NOUN
fsr-3187	259	5	numerous	numerous	ADJ
fsr-3187	259	6	studies	study	NOUN
fsr-3187	259	7	on	on	ADP
fsr-3187	259	8	mutual	mutual	ADJ
fsr-3187	259	9	funds	fund	NOUN
fsr-3187	259	10	have	have	AUX
fsr-3187	259	11	shown	show	VERB
fsr-3187	259	12	that	that	DET
fsr-3187	259	13	performance	performance	NOUN
fsr-3187	259	14	of	of	ADP
fsr-3187	259	15	actively	actively	ADV
fsr-3187	259	16	managed	manage	VERB
fsr-3187	259	17	funds	fund	NOUN
fsr-3187	259	18	is	be	AUX
fsr-3187	259	19	heavily	heavily	ADV
fsr-3187	259	20	dependent	dependent	ADJ
fsr-3187	259	21	on	on	ADP
fsr-3187	259	22	their	their	PRON
fsr-3187	259	23	size	size	NOUN
fsr-3187	259	24	,	,	PUNCT
fsr-3187	259	25	expense	expense	NOUN
fsr-3187	259	26	ratio	ratio	NOUN
fsr-3187	259	27	and	and	CCONJ
fsr-3187	259	28	other	other	ADJ
fsr-3187	259	29	fund	fund	NOUN
fsr-3187	259	30	specific	specific	ADJ
fsr-3187	259	31	attributes	attribute	NOUN
fsr-3187	259	32	.	.	PUNCT
fsr-3187	260	1	moreover	moreover	ADV
fsr-3187	260	2	,	,	PUNCT
fsr-3187	260	3	it	it	PRON
fsr-3187	260	4	is	be	AUX
fsr-3187	260	5	crucial	crucial	ADJ
fsr-3187	260	6	to	to	PART
fsr-3187	260	7	analyze	analyze	VERB
fsr-3187	260	8	the	the	DET
fsr-3187	260	9	impact	impact	NOUN
fsr-3187	260	10	of	of	ADP
fsr-3187	260	11	these	these	DET
fsr-3187	260	12	factors	factor	NOUN
fsr-3187	260	13	on	on	ADP
fsr-3187	260	14	performance	performance	NOUN
fsr-3187	260	15	of	of	ADP
fsr-3187	260	16	a	a	DET
fsr-3187	260	17	portfolio	portfolio	NOUN
fsr-3187	260	18	of	of	ADP
fsr-3187	260	19	different	different	ADJ
fsr-3187	260	20	funds	fund	NOUN
fsr-3187	260	21	especially	especially	ADV
fsr-3187	260	22	when	when	SCONJ
fsr-3187	260	23	a	a	DET
fsr-3187	260	24	portfolio	portfolio	NOUN
fsr-3187	260	25	includes	include	VERB
fsr-3187	260	26	funds	fund	NOUN
fsr-3187	260	27	that	that	PRON
fsr-3187	260	28	are	be	AUX
fsr-3187	260	29	of	of	ADP
fsr-3187	260	30	different	different	ADJ
fsr-3187	260	31	sizes	size	NOUN
fsr-3187	260	32	,	,	PUNCT
fsr-3187	260	33	have	have	VERB
fsr-3187	260	34	different	different	ADJ
fsr-3187	260	35	fee	fee	NOUN
fsr-3187	260	36	structures	structure	NOUN
fsr-3187	260	37	,	,	PUNCT
fsr-3187	260	38	and	and	CCONJ
fsr-3187	260	39	the	the	DET
fsr-3187	260	40	portfolio	portfolio	NOUN
fsr-3187	260	41	sample	sample	NOUN
fsr-3187	260	42	is	be	AUX
fsr-3187	260	43	free	free	ADJ
fsr-3187	260	44	of	of	ADP
fsr-3187	260	45	survivorship	survivorship	NOUN
fsr-3187	260	46	bias	bias	NOUN
fsr-3187	260	47	.	.	PUNCT
fsr-3187	261	1	for	for	ADP
fsr-3187	261	2	example	example	NOUN
fsr-3187	261	3	,	,	PUNCT
fsr-3187	261	4	87a	87a	NUM
fsr-3187	261	5	.	.	PUNCT
fsr-3187	262	1	kaushik	kaushik	PROPN
fsr-3187	262	2	et	et	PROPN
fsr-3187	262	3	al	al	PROPN
fsr-3187	262	4	.	.	PUNCT
fsr-3187	262	5	/	/	SYM
fsr-3187	262	6	financial	financial	ADJ
fsr-3187	262	7	services	service	NOUN
fsr-3187	262	8	review	review	VERB
fsr-3187	262	9	23	23	NUM
fsr-3187	262	10	(	(	PUNCT
fsr-3187	262	11	2014	2014	NUM
fsr-3187	262	12	)	)	PUNCT
fsr-3187	262	13	77–91	77–91	NUM
fsr-3187	262	14	carhart	carhart	NOUN
fsr-3187	262	15	(	(	PUNCT
fsr-3187	262	16	1997	1997	NUM
fsr-3187	262	17	)	)	PUNCT
fsr-3187	262	18	shows	show	VERB
fsr-3187	262	19	that	that	SCONJ
fsr-3187	262	20	expense	expense	NOUN
fsr-3187	262	21	ratios	ratio	NOUN
fsr-3187	262	22	and	and	CCONJ
fsr-3187	262	23	turnover	turnover	NOUN
fsr-3187	262	24	ratios	ratio	NOUN
fsr-3187	262	25	negatively	negatively	ADV
fsr-3187	262	26	affect	affect	VERB
fsr-3187	262	27	a	a	DET
fsr-3187	262	28	fund	fund	NOUN
fsr-3187	262	29	’s	’s	PART
fsr-3187	262	30	abnormal	abnormal	ADJ
fsr-3187	262	31	performance	performance	NOUN
fsr-3187	262	32	.	.	PUNCT
fsr-3187	263	1	in	in	ADP
fsr-3187	263	2	his	his	PRON
fsr-3187	263	3	study	study	NOUN
fsr-3187	263	4	of	of	ADP
fsr-3187	263	5	1,892	1,892	NUM
fsr-3187	263	6	well	well	ADV
fsr-3187	263	7	-	-	PUNCT
fsr-3187	263	8	diversified	diversify	VERB
fsr-3187	263	9	funds	fund	NOUN
fsr-3187	263	10	,	,	PUNCT
fsr-3187	263	11	carhart	carhart	NOUN
fsr-3187	263	12	documented	document	VERB
fsr-3187	263	13	,	,	PUNCT
fsr-3187	263	14	on	on	ADP
fsr-3187	263	15	average	average	ADJ
fsr-3187	263	16	,	,	PUNCT
fsr-3187	263	17	diminishing	diminish	VERB
fsr-3187	263	18	abnormal	abnormal	ADJ
fsr-3187	263	19	performance	performance	NOUN
fsr-3187	263	20	by	by	ADP
fsr-3187	263	21	154	154	NUM
fsr-3187	263	22	basis	basis	NOUN
fsr-3187	263	23	points	point	NOUN
fsr-3187	263	24	for	for	ADP
fsr-3187	263	25	every	every	DET
fsr-3187	263	26	100	100	NUM
fsr-3187	263	27	basis	basis	NOUN
fsr-3187	263	28	points	point	NOUN
fsr-3187	263	29	increase	increase	NOUN
fsr-3187	263	30	in	in	ADP
fsr-3187	263	31	a	a	DET
fsr-3187	263	32	fund	fund	NOUN
fsr-3187	263	33	’s	’s	PART
fsr-3187	263	34	expense	expense	NOUN
fsr-3187	263	35	ratio	ratio	NOUN
fsr-3187	263	36	and	and	CCONJ
fsr-3187	263	37	95	95	NUM
fsr-3187	263	38	basis	basis	NOUN
fsr-3187	263	39	points	point	NOUN
fsr-3187	263	40	decrease	decrease	NOUN
fsr-3187	263	41	in	in	ADP
fsr-3187	263	42	a	a	DET
fsr-3187	263	43	fund	fund	NOUN
fsr-3187	263	44	’s	’s	PART
fsr-3187	263	45	abnormal	abnormal	ADJ
fsr-3187	263	46	performance	performance	NOUN
fsr-3187	263	47	for	for	ADP
fsr-3187	263	48	every	every	DET
fsr-3187	263	49	100	100	NUM
fsr-3187	263	50	basis	basis	NOUN
fsr-3187	263	51	points	point	NOUN
fsr-3187	263	52	increase	increase	NOUN
fsr-3187	263	53	in	in	ADP
fsr-3187	263	54	its	its	PRON
fsr-3187	263	55	turnover	turnover	NOUN
fsr-3187	263	56	ratio	ratio	NOUN
fsr-3187	263	57	.	.	PUNCT
fsr-3187	264	1	in	in	ADP
fsr-3187	264	2	a	a	DET
fsr-3187	264	3	related	related	ADJ
fsr-3187	264	4	study	study	NOUN
fsr-3187	264	5	,	,	PUNCT
fsr-3187	264	6	dahlquist	dahlquist	VERB
fsr-3187	264	7	et	et	PROPN
fsr-3187	264	8	al	al	PROPN
fsr-3187	264	9	.	.	PROPN
fsr-3187	265	1	(	(	PUNCT
fsr-3187	265	2	2000	2000	NUM
fsr-3187	265	3	)	)	PUNCT
fsr-3187	265	4	analyzed	analyze	VERB
fsr-3187	265	5	swedish	swedish	ADJ
fsr-3187	265	6	mutual	mutual	ADJ
fsr-3187	265	7	funds	fund	NOUN
fsr-3187	265	8	and	and	CCONJ
fsr-3187	265	9	found	find	VERB
fsr-3187	265	10	that	that	SCONJ
fsr-3187	265	11	larger	large	ADJ
fsr-3187	265	12	size	size	NOUN
fsr-3187	265	13	funds	fund	NOUN
fsr-3187	265	14	,	,	PUNCT
fsr-3187	265	15	both	both	DET
fsr-3187	265	16	equity	equity	NOUN
fsr-3187	265	17	and	and	CCONJ
fsr-3187	265	18	bond	bond	NOUN
fsr-3187	265	19	funds	fund	NOUN
fsr-3187	265	20	,	,	PUNCT
fsr-3187	265	21	beat	beat	VERB
fsr-3187	265	22	their	their	PRON
fsr-3187	265	23	smaller	small	ADJ
fsr-3187	265	24	counterparts	counterpart	NOUN
fsr-3187	265	25	.	.	PUNCT
fsr-3187	266	1	they	they	PRON
fsr-3187	266	2	also	also	ADV
fsr-3187	266	3	showed	show	VERB
fsr-3187	266	4	that	that	SCONJ
fsr-3187	266	5	funds	fund	NOUN
fsr-3187	266	6	that	that	PRON
fsr-3187	266	7	charge	charge	VERB
fsr-3187	266	8	higher	high	ADJ
fsr-3187	266	9	fees	fee	NOUN
fsr-3187	266	10	perform	perform	VERB
fsr-3187	266	11	poorly	poorly	ADV
fsr-3187	266	12	compared	compare	VERB
fsr-3187	266	13	to	to	ADP
fsr-3187	266	14	funds	fund	NOUN
fsr-3187	266	15	that	that	PRON
fsr-3187	266	16	charge	charge	VERB
fsr-3187	266	17	low	low	ADJ
fsr-3187	266	18	fee	fee	NOUN
fsr-3187	266	19	.	.	PUNCT
fsr-3187	267	1	in	in	ADP
fsr-3187	267	2	a	a	DET
fsr-3187	267	3	similar	similar	ADJ
fsr-3187	267	4	note	note	NOUN
fsr-3187	267	5	,	,	PUNCT
fsr-3187	267	6	kaushik	kaushik	PROPN
fsr-3187	267	7	and	and	CCONJ
fsr-3187	267	8	pennathur	pennathur	ADJ
fsr-3187	267	9	(	(	PUNCT
fsr-3187	267	10	2012	2012	NUM
fsr-3187	267	11	)	)	PUNCT
fsr-3187	267	12	found	find	VERB
fsr-3187	267	13	a	a	DET
fsr-3187	267	14	significant	significant	ADJ
fsr-3187	267	15	positive	positive	ADJ
fsr-3187	267	16	relationship	relationship	NOUN
fsr-3187	267	17	between	between	ADP
fsr-3187	267	18	the	the	DET
fsr-3187	267	19	performance	performance	NOUN
fsr-3187	267	20	of	of	ADP
fsr-3187	267	21	real	real	ADJ
fsr-3187	267	22	-	-	PUNCT
fsr-3187	267	23	estate	estate	NOUN
fsr-3187	267	24	sector	sector	NOUN
fsr-3187	267	25	funds	fund	NOUN
fsr-3187	267	26	and	and	CCONJ
fsr-3187	267	27	size	size	NOUN
fsr-3187	267	28	.	.	PUNCT
fsr-3187	268	1	haslem	haslem	PROPN
fsr-3187	268	2	et	et	PROPN
fsr-3187	268	3	al	al	PROPN
fsr-3187	268	4	.	.	PROPN
fsr-3187	269	1	(	(	PUNCT
fsr-3187	269	2	2008	2008	NUM
fsr-3187	269	3	)	)	PUNCT
fsr-3187	269	4	showed	show	VERB
fsr-3187	269	5	a	a	DET
fsr-3187	269	6	strong	strong	ADJ
fsr-3187	269	7	relationship	relationship	NOUN
fsr-3187	269	8	between	between	ADP
fsr-3187	269	9	fund	fund	NOUN
fsr-3187	269	10	specific	specific	ADJ
fsr-3187	269	11	attributes	attribute	NOUN
fsr-3187	269	12	and	and	CCONJ
fsr-3187	269	13	funds	fund	NOUN
fsr-3187	269	14	’	'	PUNCT
fsr-3187	269	15	abnormal	abnormal	ADJ
fsr-3187	269	16	performance	performance	NOUN
fsr-3187	269	17	.	.	PUNCT
fsr-3187	270	1	similar	similar	ADJ
fsr-3187	270	2	to	to	ADP
fsr-3187	270	3	this	this	DET
fsr-3187	270	4	study	study	NOUN
fsr-3187	270	5	,	,	PUNCT
fsr-3187	270	6	they	they	PRON
fsr-3187	270	7	analyzed	analyze	VERB
fsr-3187	270	8	roughly	roughly	ADV
fsr-3187	270	9	1,779	1,779	NUM
fsr-3187	270	10	actively	actively	ADV
fsr-3187	270	11	managed	manage	VERB
fsr-3187	270	12	domestic	domestic	ADJ
fsr-3187	270	13	only	only	ADJ
fsr-3187	270	14	equity	equity	NOUN
fsr-3187	270	15	funds	fund	NOUN
fsr-3187	270	16	and	and	CCONJ
fsr-3187	270	17	documented	document	VERB
fsr-3187	270	18	that	that	SCONJ
fsr-3187	270	19	funds	fund	NOUN
fsr-3187	270	20	with	with	ADP
fsr-3187	270	21	low	low	ADJ
fsr-3187	270	22	expense	expense	NOUN
fsr-3187	270	23	ratios	ratio	NOUN
fsr-3187	270	24	and	and	CCONJ
fsr-3187	270	25	larger	large	ADJ
fsr-3187	270	26	size	size	NOUN
fsr-3187	270	27	perform	perform	VERB
fsr-3187	270	28	better	well	ADJ
fsr-3187	270	29	than	than	ADP
fsr-3187	270	30	funds	fund	NOUN
fsr-3187	270	31	with	with	ADP
fsr-3187	270	32	higher	high	ADJ
fsr-3187	270	33	expense	expense	NOUN
fsr-3187	270	34	ratios	ratio	NOUN
fsr-3187	270	35	and	and	CCONJ
fsr-3187	270	36	smaller	small	ADJ
fsr-3187	270	37	sizes	size	NOUN
fsr-3187	270	38	.	.	PUNCT
fsr-3187	271	1	they	they	PRON
fsr-3187	271	2	also	also	ADV
fsr-3187	271	3	found	find	VERB
fsr-3187	271	4	a	a	DET
fsr-3187	271	5	negative	negative	ADJ
fsr-3187	271	6	relationship	relationship	NOUN
fsr-3187	271	7	between	between	ADP
fsr-3187	271	8	turnover	turnover	NOUN
fsr-3187	271	9	ratio	ratio	NOUN
fsr-3187	271	10	and	and	CCONJ
fsr-3187	271	11	abnormal	abnormal	ADJ
fsr-3187	271	12	performance	performance	NOUN
fsr-3187	271	13	.	.	PUNCT
fsr-3187	272	1	in	in	ADP
fsr-3187	272	2	this	this	DET
fsr-3187	272	3	study	study	NOUN
fsr-3187	272	4	,	,	PUNCT
fsr-3187	272	5	we	we	PRON
fsr-3187	272	6	use	use	VERB
fsr-3187	272	7	cross	cross	ADJ
fsr-3187	272	8	-	-	ADJ
fsr-3187	272	9	sectional	sectional	ADJ
fsr-3187	272	10	analysis	analysis	NOUN
fsr-3187	272	11	to	to	PART
fsr-3187	272	12	study	study	VERB
fsr-3187	272	13	the	the	DET
fsr-3187	272	14	impact	impact	NOUN
fsr-3187	272	15	of	of	ADP
fsr-3187	272	16	fund	fund	NOUN
fsr-3187	272	17	specific	specific	ADJ
fsr-3187	272	18	attributes	attribute	NOUN
fsr-3187	272	19	on	on	ADP
fsr-3187	272	20	the	the	DET
fsr-3187	272	21	performance	performance	NOUN
fsr-3187	272	22	of	of	ADP
fsr-3187	272	23	a	a	DET
fsr-3187	272	24	portfolio	portfolio	NOUN
fsr-3187	272	25	of	of	ADP
fsr-3187	272	26	different	different	ADJ
fsr-3187	272	27	healthcare	healthcare	NOUN
fsr-3187	272	28	mutual	mutual	ADJ
fsr-3187	272	29	funds	fund	NOUN
fsr-3187	272	30	.	.	PUNCT
fsr-3187	273	1	specifically	specifically	ADV
fsr-3187	273	2	,	,	PUNCT
fsr-3187	273	3	we	we	PRON
fsr-3187	273	4	evaluate	evaluate	VERB
fsr-3187	273	5	the	the	DET
fsr-3187	273	6	"	"	PUNCT
fsr-3187	273	7	of	of	ADP
fsr-3187	273	8	a	a	DET
fsr-3187	273	9	portfolio	portfolio	NOUN
fsr-3187	273	10	of	of	ADP
fsr-3187	273	11	healthcare	healthcare	NOUN
fsr-3187	273	12	funds	fund	NOUN
fsr-3187	273	13	as	as	ADP
fsr-3187	273	14	a	a	DET
fsr-3187	273	15	function	function	NOUN
fsr-3187	273	16	of	of	ADP
fsr-3187	273	17	funds	fund	NOUN
fsr-3187	273	18	’	'	PUNCT
fsr-3187	273	19	size	size	NOUN
fsr-3187	273	20	,	,	PUNCT
fsr-3187	273	21	expense	expense	NOUN
fsr-3187	273	22	ratio	ratio	NOUN
fsr-3187	273	23	,	,	PUNCT
fsr-3187	273	24	turnover	turnover	NOUN
fsr-3187	273	25	ratio	ratio	NOUN
fsr-3187	273	26	,	,	PUNCT
fsr-3187	273	27	investment	investment	NOUN
fsr-3187	273	28	in	in	ADP
fsr-3187	273	29	top	top	ADJ
fsr-3187	273	30	10	10	NUM
fsr-3187	273	31	%	%	NOUN
fsr-3187	273	32	assets	asset	NOUN
fsr-3187	273	33	,	,	PUNCT
fsr-3187	273	34	cash	cash	NOUN
fsr-3187	273	35	holdings	holding	NOUN
fsr-3187	273	36	,	,	PUNCT
fsr-3187	273	37	and	and	CCONJ
fsr-3187	273	38	managerial	managerial	ADJ
fsr-3187	273	39	tenure	tenure	NOUN
fsr-3187	273	40	.	.	PUNCT
fsr-3187	273	41	"	"	PUNCT
fsr-3187	274	1	$	$	SYM
fsr-3187	274	2	f	f	NOUN
fsr-3187	274	3	:	:	PUNCT
fsr-3187	274	4	(	(	PUNCT
fsr-3187	274	5	expense	expense	NOUN
fsr-3187	274	6	ratio	ratio	NOUN
fsr-3187	274	7	,	,	PUNCT
fsr-3187	274	8	turnover	turnover	NOUN
fsr-3187	274	9	ratio	ratio	NOUN
fsr-3187	274	10	,	,	PUNCT
fsr-3187	274	11	size	size	NOUN
fsr-3187	274	12	,	,	PUNCT
fsr-3187	274	13	top	top	NOUN
fsr-3187	274	14	,	,	PUNCT
fsr-3187	274	15	tenure	tenure	NOUN
fsr-3187	274	16	,	,	PUNCT
fsr-3187	274	17	and	and	CCONJ
fsr-3187	274	18	cash	cash	NOUN
fsr-3187	274	19	)	)	PUNCT
fsr-3187	274	20	.	.	PUNCT
fsr-3187	275	1	cross	cross	ADJ
fsr-3187	275	2	-	-	ADJ
fsr-3187	275	3	sectional	sectional	ADJ
fsr-3187	275	4	results	result	NOUN
fsr-3187	275	5	reported	report	VERB
fsr-3187	275	6	in	in	ADP
fsr-3187	275	7	table	table	NOUN
fsr-3187	275	8	4	4	NUM
fsr-3187	275	9	show	show	VERB
fsr-3187	275	10	that	that	SCONJ
fsr-3187	275	11	abnormal	abnormal	ADJ
fsr-3187	275	12	performance	performance	NOUN
fsr-3187	275	13	is	be	AUX
fsr-3187	275	14	negatively	negatively	ADV
fsr-3187	275	15	affected	affect	VERB
fsr-3187	275	16	by	by	ADP
fsr-3187	275	17	expense	expense	NOUN
fsr-3187	275	18	ratio	ratio	NOUN
fsr-3187	275	19	.	.	PUNCT
fsr-3187	276	1	the	the	DET
fsr-3187	276	2	coefficient	coefficient	NOUN
fsr-3187	276	3	of	of	ADP
fsr-3187	276	4	expense	expense	NOUN
fsr-3187	276	5	ratio	ratio	NOUN
fsr-3187	276	6	is	be	AUX
fsr-3187	276	7	#	#	SYM
fsr-3187	276	8	2.006	2.006	NUM
fsr-3187	276	9	and	and	CCONJ
fsr-3187	276	10	it	it	PRON
fsr-3187	276	11	is	be	AUX
fsr-3187	276	12	marginally	marginally	ADV
fsr-3187	276	13	statistically	statistically	ADV
fsr-3187	276	14	significant	significant	ADJ
fsr-3187	276	15	.	.	PUNCT
fsr-3187	277	1	this	this	DET
fsr-3187	277	2	finding	finding	NOUN
fsr-3187	277	3	suggests	suggest	VERB
fsr-3187	277	4	that	that	SCONJ
fsr-3187	277	5	for	for	SCONJ
fsr-3187	277	6	every	every	DET
fsr-3187	277	7	100	100	NUM
fsr-3187	277	8	basis	basis	NOUN
fsr-3187	277	9	points	point	NOUN
fsr-3187	277	10	increase	increase	VERB
fsr-3187	277	11	in	in	ADP
fsr-3187	277	12	expenses	expense	NOUN
fsr-3187	277	13	,	,	PUNCT
fsr-3187	277	14	abnormal	abnormal	ADJ
fsr-3187	277	15	performance	performance	NOUN
fsr-3187	277	16	decreases	decrease	NOUN
fsr-3187	277	17	by	by	ADP
fsr-3187	277	18	200	200	NUM
fsr-3187	277	19	basis	basis	NOUN
fsr-3187	277	20	points	point	NOUN
fsr-3187	277	21	.	.	PUNCT
fsr-3187	278	1	although	although	SCONJ
fsr-3187	278	2	coefficients	coefficient	NOUN
fsr-3187	278	3	of	of	ADP
fsr-3187	278	4	turnover	turnover	NOUN
fsr-3187	278	5	ratio	ratio	NOUN
fsr-3187	278	6	,	,	PUNCT
fsr-3187	278	7	investment	investment	NOUN
fsr-3187	278	8	in	in	ADP
fsr-3187	278	9	top	top	ADJ
fsr-3187	278	10	10	10	NUM
fsr-3187	278	11	%	%	NOUN
fsr-3187	278	12	holdings	holding	NOUN
fsr-3187	278	13	,	,	PUNCT
fsr-3187	278	14	and	and	CCONJ
fsr-3187	278	15	managerial	managerial	ADJ
fsr-3187	278	16	tenure	tenure	NOUN
fsr-3187	278	17	are	be	AUX
fsr-3187	278	18	all	all	ADV
fsr-3187	278	19	positive	positive	ADJ
fsr-3187	278	20	,	,	PUNCT
fsr-3187	278	21	but	but	CCONJ
fsr-3187	278	22	table	table	NOUN
fsr-3187	278	23	4	4	NUM
fsr-3187	278	24	cross	cross	ADJ
fsr-3187	278	25	-	-	ADJ
fsr-3187	278	26	sectional	sectional	ADJ
fsr-3187	278	27	analysis	analysis	NOUN
fsr-3187	278	28	variable	variable	ADJ
fsr-3187	278	29	estimate	estimate	NOUN
fsr-3187	278	30	t	t	NOUN
fsr-3187	278	31	value	value	NOUN
fsr-3187	278	32	intercept	intercept	VERB
fsr-3187	278	33	#	#	SYM
fsr-3187	278	34	0.009	0.009	NUM
fsr-3187	278	35	(	(	PUNCT
fsr-3187	278	36	#	#	SYM
fsr-3187	278	37	0.85	0.85	NUM
fsr-3187	278	38	)	)	PUNCT
fsr-3187	278	39	expense	expense	NOUN
fsr-3187	278	40	ratio	ratio	NOUN
fsr-3187	278	41	#	#	SYM
fsr-3187	278	42	2.006	2.006	NUM
fsr-3187	278	43	(	(	PUNCT
fsr-3187	278	44	#	#	SYM
fsr-3187	278	45	1.94	1.94	NUM
fsr-3187	278	46	)	)	PUNCT
fsr-3187	278	47	turnover	turnover	NOUN
fsr-3187	278	48	ratio	ratio	NOUN
fsr-3187	278	49	0.020	0.020	NUM
fsr-3187	278	50	(	(	PUNCT
fsr-3187	278	51	0.32	0.32	NUM
fsr-3187	278	52	)	)	PUNCT
fsr-3187	278	53	size	size	NOUN
fsr-3187	278	54	#	#	SYM
fsr-3187	278	55	0.000	0.000	NUM
fsr-3187	278	56	(	(	PUNCT
fsr-3187	278	57	#	#	SYM
fsr-3187	278	58	0.63	0.63	NUM
fsr-3187	278	59	)	)	PUNCT
fsr-3187	278	60	top	top	ADJ
fsr-3187	278	61	0.006	0.006	NUM
fsr-3187	278	62	(	(	PUNCT
fsr-3187	278	63	0.8	0.8	NUM
fsr-3187	278	64	)	)	PUNCT
fsr-3187	278	65	tenure	tenure	NOUN
fsr-3187	278	66	0.004	0.004	NUM
fsr-3187	278	67	(	(	PUNCT
fsr-3187	278	68	1.11	1.11	NUM
fsr-3187	278	69	)	)	PUNCT
fsr-3187	278	70	cash	cash	NOUN
fsr-3187	278	71	0.110	0.110	NUM
fsr-3187	278	72	(	(	PUNCT
fsr-3187	278	73	1.63	1.63	NUM
fsr-3187	278	74	)	)	PUNCT
fsr-3187	278	75	adj	adj	PROPN
fsr-3187	278	76	.	.	PUNCT
fsr-3187	278	77	r2	r2	PROPN
fsr-3187	278	78	0.381	0.381	NUM
fsr-3187	278	79	*	*	PUNCT
fsr-3187	278	80	*	*	PUNCT
fsr-3187	278	81	*	*	PUNCT
fsr-3187	278	82	n	n	NUM
fsr-3187	278	83	5,253	5,253	NUM
fsr-3187	278	84	note	note	NOUN
fsr-3187	278	85	.	.	PUNCT
fsr-3187	279	1	the	the	DET
fsr-3187	279	2	above	above	ADJ
fsr-3187	279	3	table	table	NOUN
fsr-3187	279	4	shows	show	VERB
fsr-3187	279	5	cross	cross	ADJ
fsr-3187	279	6	-	-	ADJ
fsr-3187	279	7	sectional	sectional	ADJ
fsr-3187	279	8	analysis	analysis	NOUN
fsr-3187	279	9	over	over	ADP
fsr-3187	279	10	the	the	DET
fsr-3187	279	11	period	period	NOUN
fsr-3187	279	12	1/2000	1/2000	NUM
fsr-3187	279	13	to	to	ADP
fsr-3187	279	14	12/2011	12/2011	NUM
fsr-3187	279	15	.	.	PUNCT
fsr-3187	280	1	the	the	DET
fsr-3187	280	2	dependent	dependent	ADJ
fsr-3187	280	3	variable	variable	NOUN
fsr-3187	280	4	is	be	AUX
fsr-3187	280	5	monthly	monthly	ADJ
fsr-3187	280	6	"	"	PUNCT
fsr-3187	280	7	that	that	PRON
fsr-3187	280	8	is	be	AUX
fsr-3187	280	9	estimated	estimate	VERB
fsr-3187	280	10	by	by	ADP
fsr-3187	280	11	using	use	VERB
fsr-3187	280	12	"	"	PUNCT
fsr-3187	280	13	it	it	PRON
fsr-3187	280	14	$	$	SYM
fsr-3187	280	15	rit	rit	NOUN
fsr-3187	280	16	#	#	NOUN
fsr-3187	280	17	rft	rft	NOUN
fsr-3187	280	18	#	#	NOUN
fsr-3187	280	19	!	!	PUNCT
fsr-3187	281	1	̃1it#1	̃1it#1	PROPN
fsr-3187	281	2	!	!	PUNCT
fsr-3187	282	1	rmrft	rmrft	NOUN
fsr-3187	282	2	"	"	PUNCT
fsr-3187	282	3	!	!	PUNCT
fsr-3187	283	1	̃2it#1	̃2it#1	ADJ
fsr-3187	283	2	!	!	PUNCT
fsr-3187	284	1	smbt	smbt	NOUN
fsr-3187	284	2	"	"	PUNCT
fsr-3187	284	3	!	!	PUNCT
fsr-3187	285	1	̃3it#1	̃3it#1	NOUN
fsr-3187	285	2	!	!	PUNCT
fsr-3187	286	1	hmlt	hmlt	PROPN
fsr-3187	286	2	"	"	PUNCT
fsr-3187	286	3	!	!	PUNCT
fsr-3187	287	1	̃4it#1	̃4it#1	VERB
fsr-3187	287	2	!	!	PUNCT
fsr-3187	288	1	momt	momt	INTJ
fsr-3187	288	2	where	where	SCONJ
fsr-3187	288	3	!	!	PUNCT
fsr-3187	288	4	̃1it#1	̃1it#1	PROPN
fsr-3187	288	5	!	!	PUNCT
fsr-3187	288	6	.	.	PUNCT
fsr-3187	288	7	.	.	PUNCT
fsr-3187	288	8	.	.	PUNCT
fsr-3187	288	9	!	!	PUNCT
fsr-3187	289	1	̃4it#1	̃4it#1	PROPN
fsr-3187	289	2	are	be	AUX
fsr-3187	289	3	the	the	DET
fsr-3187	289	4	beta	beta	NOUN
fsr-3187	289	5	loading	loading	NOUN
fsr-3187	289	6	estimated	estimate	VERB
fsr-3187	289	7	using	use	VERB
fsr-3187	289	8	equation	equation	NOUN
fsr-3187	289	9	rit	rit	NOUN
fsr-3187	289	10	#	#	PROPN
fsr-3187	289	11	rft	rft	NOUN
fsr-3187	289	12	$	$	NOUN
fsr-3187	289	13	"	"	PUNCT
fsr-3187	289	14	i	i	PRON
fsr-3187	289	15	"	"	PUNCT
fsr-3187	289	16	!	!	PUNCT
fsr-3187	290	1	1i	1i	NOUN
fsr-3187	290	2	!	!	PUNCT
fsr-3187	291	1	rmrft	rmrft	NOUN
fsr-3187	291	2	"	"	PUNCT
fsr-3187	291	3	!	!	PUNCT
fsr-3187	292	1	2i	2i	NOUN
fsr-3187	292	2	!	!	PUNCT
fsr-3187	293	1	smbt	smbt	NOUN
fsr-3187	293	2	"	"	PUNCT
fsr-3187	293	3	!	!	PUNCT
fsr-3187	294	1	3i	3i	NOUN
fsr-3187	294	2	!	!	PUNCT
fsr-3187	295	1	hmlt	hmlt	PROPN
fsr-3187	295	2	"	"	PUNCT
fsr-3187	295	3	!	!	PUNCT
fsr-3187	296	1	4i	4i	NOUN
fsr-3187	296	2	!	!	PUNCT
fsr-3187	297	1	momt	momt	ADJ
fsr-3187	297	2	"	"	PUNCT
fsr-3187	297	3	&	&	CCONJ
fsr-3187	297	4	i	i	PROPN
fsr-3187	297	5	,	,	PUNCT
fsr-3187	297	6	t	t	PROPN
fsr-3187	297	7	.	.	PUNCT
fsr-3187	298	1	monthly	monthly	ADJ
fsr-3187	298	2	expense	expense	NOUN
fsr-3187	298	3	ratio	ratio	NOUN
fsr-3187	298	4	,	,	PUNCT
fsr-3187	298	5	turnover	turnover	NOUN
fsr-3187	298	6	ratio	ratio	NOUN
fsr-3187	298	7	,	,	PUNCT
fsr-3187	298	8	size	size	NOUN
fsr-3187	298	9	,	,	PUNCT
fsr-3187	298	10	a	a	DET
fsr-3187	298	11	fund	fund	NOUN
fsr-3187	298	12	’s	’s	PART
fsr-3187	298	13	investment	investment	NOUN
fsr-3187	298	14	in	in	ADP
fsr-3187	298	15	its	its	PRON
fsr-3187	298	16	top	top	ADJ
fsr-3187	298	17	10	10	NUM
fsr-3187	298	18	%	%	NOUN
fsr-3187	298	19	assets	asset	NOUN
fsr-3187	298	20	,	,	PUNCT
fsr-3187	298	21	managerial	managerial	ADJ
fsr-3187	298	22	tenure	tenure	NOUN
fsr-3187	298	23	,	,	PUNCT
fsr-3187	298	24	and	and	CCONJ
fsr-3187	298	25	cash	cash	NOUN
fsr-3187	298	26	holdings	holding	NOUN
fsr-3187	298	27	are	be	AUX
fsr-3187	298	28	the	the	DET
fsr-3187	298	29	explanatory	explanatory	ADJ
fsr-3187	298	30	variables	variable	NOUN
fsr-3187	298	31	.	.	PUNCT
fsr-3187	299	1	model	model	NOUN
fsr-3187	299	2	:	:	PUNCT
fsr-3187	299	3	"	"	PUNCT
fsr-3187	299	4	it	it	PRON
fsr-3187	299	5	$	$	SYM
fsr-3187	299	6	!	!	PUNCT
fsr-3187	299	7	0	0	NUM
fsr-3187	299	8	"	"	PUNCT
fsr-3187	299	9	!	!	PUNCT
fsr-3187	299	10	1	1	NUM
fsr-3187	299	11	expense	expense	NOUN
fsr-3187	299	12	ratioit	ratioit	NOUN
fsr-3187	299	13	"	"	PUNCT
fsr-3187	299	14	!	!	PUNCT
fsr-3187	299	15	2	2	NUM
fsr-3187	299	16	turnoverit	turnoverit	NOUN
fsr-3187	299	17	"	"	PUNCT
fsr-3187	299	18	!	!	PUNCT
fsr-3187	300	1	3	3	NUM
fsr-3187	300	2	sizeit	sizeit	NOUN
fsr-3187	300	3	"	"	PUNCT
fsr-3187	300	4	!	!	PUNCT
fsr-3187	300	5	4	4	NUM
fsr-3187	300	6	topit	topit	NOUN
fsr-3187	300	7	"	"	PUNCT
fsr-3187	300	8	!	!	PUNCT
fsr-3187	300	9	5	5	NUM
fsr-3187	300	10	tenureit	tenureit	NOUN
fsr-3187	300	11	"	"	PUNCT
fsr-3187	300	12	!	!	PUNCT
fsr-3187	300	13	6	6	NUM
fsr-3187	300	14	cashit	cashit	NOUN
fsr-3187	300	15	"	"	PUNCT
fsr-3187	300	16	&	&	CCONJ
fsr-3187	300	17	it	it	PRON
fsr-3187	300	18	.	.	PUNCT
fsr-3187	301	1	*	*	PUNCT
fsr-3187	301	2	*	*	PUNCT
fsr-3187	301	3	*	*	PUNCT
fsr-3187	301	4	and	and	CCONJ
fsr-3187	301	5	*	*	AUX
fsr-3187	301	6	*	*	PUNCT
fsr-3187	301	7	show	show	VERB
fsr-3187	301	8	the	the	DET
fsr-3187	301	9	significance	significance	NOUN
fsr-3187	301	10	at	at	ADP
fsr-3187	301	11	1	1	NUM
fsr-3187	301	12	%	%	NOUN
fsr-3187	301	13	and	and	CCONJ
fsr-3187	301	14	5	5	NUM
fsr-3187	301	15	%	%	NOUN
fsr-3187	301	16	level	level	NOUN
fsr-3187	301	17	,	,	PUNCT
fsr-3187	301	18	respectively	respectively	ADV
fsr-3187	301	19	.	.	PUNCT
fsr-3187	302	1	88	88	NUM
fsr-3187	302	2	a.	a.	NOUN
fsr-3187	302	3	kaushik	kaushik	PROPN
fsr-3187	302	4	et	et	PROPN
fsr-3187	302	5	al	al	PROPN
fsr-3187	302	6	.	.	PUNCT
fsr-3187	302	7	/	/	SYM
fsr-3187	302	8	financial	financial	ADJ
fsr-3187	302	9	services	service	NOUN
fsr-3187	302	10	review	review	VERB
fsr-3187	302	11	23	23	NUM
fsr-3187	302	12	(	(	PUNCT
fsr-3187	302	13	2014	2014	NUM
fsr-3187	302	14	)	)	PUNCT
fsr-3187	302	15	77–91	77–91	NUM
fsr-3187	303	1	they	they	PRON
fsr-3187	303	2	are	be	AUX
fsr-3187	303	3	statistically	statistically	ADV
fsr-3187	303	4	not	not	PART
fsr-3187	303	5	significant	significant	ADJ
fsr-3187	303	6	.	.	PUNCT
fsr-3187	304	1	our	our	PRON
fsr-3187	304	2	results	result	NOUN
fsr-3187	304	3	are	be	AUX
fsr-3187	304	4	similar	similar	ADJ
fsr-3187	304	5	to	to	ADP
fsr-3187	304	6	those	those	PRON
fsr-3187	304	7	found	find	VERB
fsr-3187	304	8	in	in	ADP
fsr-3187	304	9	the	the	DET
fsr-3187	304	10	existing	exist	VERB
fsr-3187	304	11	literature	literature	NOUN
fsr-3187	304	12	for	for	ADP
fsr-3187	304	13	both	both	CCONJ
fsr-3187	304	14	well	well	ADV
fsr-3187	304	15	-	-	PUNCT
fsr-3187	304	16	diversified	diversify	VERB
fsr-3187	304	17	and	and	CCONJ
fsr-3187	304	18	other	other	ADJ
fsr-3187	304	19	specialized	specialized	ADJ
fsr-3187	304	20	funds	fund	NOUN
fsr-3187	304	21	(	(	PUNCT
fsr-3187	304	22	e.g.	e.g.	ADV
fsr-3187	304	23	,	,	PUNCT
fsr-3187	304	24	carhart	carhart	NOUN
fsr-3187	304	25	,	,	PUNCT
fsr-3187	304	26	1997	1997	NUM
fsr-3187	304	27	;	;	PUNCT
fsr-3187	304	28	haslem	haslem	PROPN
fsr-3187	304	29	et	et	PROPN
fsr-3187	304	30	al	al	PROPN
fsr-3187	304	31	.	.	PROPN
fsr-3187	304	32	,	,	PUNCT
fsr-3187	304	33	2008	2008	NUM
fsr-3187	304	34	among	among	ADP
fsr-3187	304	35	others	other	NOUN
fsr-3187	304	36	)	)	PUNCT
fsr-3187	304	37	.	.	PUNCT
fsr-3187	305	1	6	6	X
fsr-3187	305	2	.	.	X
fsr-3187	305	3	conclusion	conclusion	NOUN
fsr-3187	305	4	investments	investment	NOUN
fsr-3187	305	5	in	in	ADP
fsr-3187	305	6	mutual	mutual	ADJ
fsr-3187	305	7	funds	fund	NOUN
fsr-3187	305	8	have	have	AUX
fsr-3187	305	9	been	be	AUX
fsr-3187	305	10	growing	grow	VERB
fsr-3187	305	11	consistently	consistently	ADV
fsr-3187	305	12	for	for	ADP
fsr-3187	305	13	the	the	DET
fsr-3187	305	14	past	past	ADJ
fsr-3187	305	15	five	five	NUM
fsr-3187	305	16	decades	decade	NOUN
fsr-3187	305	17	.	.	PUNCT
fsr-3187	306	1	various	various	ADJ
fsr-3187	306	2	studies	study	NOUN
fsr-3187	306	3	have	have	AUX
fsr-3187	306	4	examined	examine	VERB
fsr-3187	306	5	the	the	DET
fsr-3187	306	6	performance	performance	NOUN
fsr-3187	306	7	phenomenon	phenomenon	NOUN
fsr-3187	306	8	of	of	ADP
fsr-3187	306	9	actively	actively	ADV
fsr-3187	306	10	managed	manage	VERB
fsr-3187	306	11	mutual	mutual	ADJ
fsr-3187	306	12	funds	fund	NOUN
fsr-3187	306	13	.	.	PUNCT
fsr-3187	307	1	though	though	SCONJ
fsr-3187	307	2	results	result	NOUN
fsr-3187	307	3	pertaining	pertain	VERB
fsr-3187	307	4	to	to	ADP
fsr-3187	307	5	the	the	DET
fsr-3187	307	6	abnormal	abnormal	ADJ
fsr-3187	307	7	performance	performance	NOUN
fsr-3187	307	8	have	have	AUX
fsr-3187	307	9	been	be	AUX
fsr-3187	307	10	mixed	mix	VERB
fsr-3187	307	11	,	,	PUNCT
fsr-3187	307	12	but	but	CCONJ
fsr-3187	307	13	a	a	DET
fsr-3187	307	14	majority	majority	NOUN
fsr-3187	307	15	of	of	ADP
fsr-3187	307	16	studies	study	NOUN
fsr-3187	307	17	indicated	indicate	VERB
fsr-3187	307	18	underperformance	underperformance	NOUN
fsr-3187	307	19	of	of	ADP
fsr-3187	307	20	these	these	DET
fsr-3187	307	21	funds	fund	NOUN
fsr-3187	307	22	especially	especially	ADV
fsr-3187	307	23	after	after	ADP
fsr-3187	307	24	incorporating	incorporate	VERB
fsr-3187	307	25	funds	fund	NOUN
fsr-3187	307	26	fees	fee	NOUN
fsr-3187	307	27	and	and	CCONJ
fsr-3187	307	28	expenses	expense	NOUN
fsr-3187	307	29	.	.	PUNCT
fsr-3187	308	1	in	in	ADP
fsr-3187	308	2	this	this	DET
fsr-3187	308	3	study	study	NOUN
fsr-3187	308	4	,	,	PUNCT
fsr-3187	308	5	we	we	PRON
fsr-3187	308	6	examined	examine	VERB
fsr-3187	308	7	the	the	DET
fsr-3187	308	8	abnormal	abnormal	ADJ
fsr-3187	308	9	performance	performance	NOUN
fsr-3187	308	10	of	of	ADP
fsr-3187	308	11	115	115	NUM
fsr-3187	308	12	healthcare	healthcare	NOUN
fsr-3187	308	13	mutual	mutual	ADJ
fsr-3187	308	14	funds	fund	NOUN
fsr-3187	308	15	that	that	PRON
fsr-3187	308	16	existed	exist	VERB
fsr-3187	308	17	at	at	ADP
fsr-3187	308	18	some	some	DET
fsr-3187	308	19	point	point	NOUN
fsr-3187	308	20	in	in	ADP
fsr-3187	308	21	time	time	NOUN
fsr-3187	308	22	over	over	ADP
fsr-3187	308	23	the	the	DET
fsr-3187	308	24	period	period	NOUN
fsr-3187	308	25	2000–2012	2000–2012	NUM
fsr-3187	308	26	.	.	PUNCT
fsr-3187	309	1	our	our	PRON
fsr-3187	309	2	motivation	motivation	NOUN
fsr-3187	309	3	stems	stem	VERB
fsr-3187	309	4	from	from	ADP
fsr-3187	309	5	the	the	DET
fsr-3187	309	6	fact	fact	NOUN
fsr-3187	309	7	that	that	SCONJ
fsr-3187	309	8	healthcare	healthcare	NOUN
fsr-3187	309	9	funds	fund	NOUN
fsr-3187	309	10	have	have	AUX
fsr-3187	309	11	grown	grow	VERB
fsr-3187	309	12	at	at	ADP
fsr-3187	309	13	a	a	DET
fsr-3187	309	14	rapid	rapid	ADJ
fsr-3187	309	15	rate	rate	NOUN
fsr-3187	309	16	over	over	ADP
fsr-3187	309	17	the	the	DET
fsr-3187	309	18	last	last	ADJ
fsr-3187	309	19	10	10	NUM
fsr-3187	309	20	years	year	NOUN
fsr-3187	309	21	and	and	CCONJ
fsr-3187	309	22	yet	yet	ADV
fsr-3187	309	23	not	not	PART
fsr-3187	309	24	many	many	ADJ
fsr-3187	309	25	studies	study	NOUN
fsr-3187	309	26	are	be	AUX
fsr-3187	309	27	available	available	ADJ
fsr-3187	309	28	to	to	PART
fsr-3187	309	29	explain	explain	VERB
fsr-3187	309	30	their	their	PRON
fsr-3187	309	31	abnormal	abnormal	ADJ
fsr-3187	309	32	performance	performance	NOUN
fsr-3187	309	33	.	.	PUNCT
fsr-3187	310	1	moreover	moreover	ADV
fsr-3187	310	2	,	,	PUNCT
fsr-3187	310	3	this	this	DET
fsr-3187	310	4	sector	sector	NOUN
fsr-3187	310	5	of	of	ADP
fsr-3187	310	6	the	the	DET
fsr-3187	310	7	economy	economy	NOUN
fsr-3187	310	8	has	have	AUX
fsr-3187	310	9	been	be	AUX
fsr-3187	310	10	a	a	DET
fsr-3187	310	11	center	center	ADJ
fsr-3187	310	12	piece	piece	NOUN
fsr-3187	310	13	of	of	ADP
fsr-3187	310	14	attention	attention	NOUN
fsr-3187	310	15	for	for	ADP
fsr-3187	310	16	both	both	CCONJ
fsr-3187	310	17	the	the	DET
fsr-3187	310	18	politicians	politician	NOUN
fsr-3187	310	19	and	and	CCONJ
fsr-3187	310	20	policy	policy	NOUN
fsr-3187	310	21	makers	maker	NOUN
fsr-3187	310	22	.	.	PUNCT
fsr-3187	311	1	most	most	ADJ
fsr-3187	311	2	of	of	ADP
fsr-3187	311	3	the	the	DET
fsr-3187	311	4	last	last	ADJ
fsr-3187	311	5	decade	decade	NOUN
fsr-3187	311	6	has	have	AUX
fsr-3187	311	7	witnessed	witness	VERB
fsr-3187	311	8	global	global	ADJ
fsr-3187	311	9	economic	economic	ADJ
fsr-3187	311	10	slowdown	slowdown	NOUN
fsr-3187	311	11	and	and	CCONJ
fsr-3187	311	12	many	many	ADJ
fsr-3187	311	13	analysts	analyst	NOUN
fsr-3187	311	14	may	may	AUX
fsr-3187	311	15	argue	argue	VERB
fsr-3187	311	16	that	that	SCONJ
fsr-3187	311	17	a	a	DET
fsr-3187	311	18	defensive	defensive	ADJ
fsr-3187	311	19	stock	stock	NOUN
fsr-3187	311	20	like	like	ADP
fsr-3187	311	21	healthcare	healthcare	PROPN
fsr-3187	311	22	should	should	AUX
fsr-3187	311	23	perform	perform	VERB
fsr-3187	311	24	better	well	ADV
fsr-3187	311	25	under	under	ADP
fsr-3187	311	26	these	these	DET
fsr-3187	311	27	conditions	condition	NOUN
fsr-3187	311	28	.	.	PUNCT
fsr-3187	312	1	our	our	PRON
fsr-3187	312	2	results	result	NOUN
fsr-3187	312	3	indicate	indicate	VERB
fsr-3187	312	4	that	that	SCONJ
fsr-3187	312	5	healthcare	healthcare	PROPN
fsr-3187	312	6	funds	fund	NOUN
fsr-3187	312	7	outperform	outperform	VERB
fsr-3187	312	8	passive	passive	ADJ
fsr-3187	312	9	market	market	NOUN
fsr-3187	312	10	index	index	NOUN
fsr-3187	312	11	by	by	ADP
fsr-3187	312	12	as	as	ADV
fsr-3187	312	13	much	much	ADJ
fsr-3187	312	14	as	as	ADP
fsr-3187	312	15	0.2847	0.2847	NUM
fsr-3187	312	16	%	%	NOUN
fsr-3187	312	17	per	per	ADP
fsr-3187	312	18	month	month	NOUN
fsr-3187	312	19	(	(	PUNCT
fsr-3187	312	20	3.42	3.42	NUM
fsr-3187	312	21	%	%	NOUN
fsr-3187	312	22	per	per	ADP
fsr-3187	312	23	year	year	NOUN
fsr-3187	312	24	)	)	PUNCT
fsr-3187	312	25	when	when	SCONJ
fsr-3187	312	26	the	the	DET
fsr-3187	312	27	single	single	ADJ
fsr-3187	312	28	-	-	PUNCT
fsr-3187	312	29	factor	factor	NOUN
fsr-3187	312	30	model	model	NOUN
fsr-3187	312	31	is	be	AUX
fsr-3187	312	32	used	use	VERB
fsr-3187	312	33	.	.	PUNCT
fsr-3187	313	1	the	the	DET
fsr-3187	313	2	abnormal	abnormal	ADJ
fsr-3187	313	3	performance	performance	NOUN
fsr-3187	313	4	outshines	outshine	VERB
fsr-3187	313	5	passive	passive	ADJ
fsr-3187	313	6	market	market	NOUN
fsr-3187	313	7	index	index	NOUN
fsr-3187	313	8	by	by	ADP
fsr-3187	313	9	0.2473	0.2473	NUM
fsr-3187	313	10	%	%	NOUN
fsr-3187	313	11	per	per	ADP
fsr-3187	313	12	month	month	NOUN
fsr-3187	313	13	(	(	PUNCT
fsr-3187	313	14	2.97	2.97	NUM
fsr-3187	313	15	%	%	NOUN
fsr-3187	313	16	per	per	ADP
fsr-3187	313	17	year	year	NOUN
fsr-3187	313	18	)	)	PUNCT
fsr-3187	313	19	when	when	SCONJ
fsr-3187	313	20	the	the	DET
fsr-3187	313	21	four	four	NUM
fsr-3187	313	22	-	-	PUNCT
fsr-3187	313	23	factor	factor	NOUN
fsr-3187	313	24	model	model	NOUN
fsr-3187	313	25	is	be	AUX
fsr-3187	313	26	used	use	VERB
fsr-3187	313	27	.	.	PUNCT
fsr-3187	314	1	in	in	ADP
fsr-3187	314	2	other	other	ADJ
fsr-3187	314	3	words	word	NOUN
fsr-3187	314	4	,	,	PUNCT
fsr-3187	314	5	after	after	ADP
fsr-3187	314	6	controlling	control	VERB
fsr-3187	314	7	for	for	ADP
fsr-3187	314	8	known	known	ADJ
fsr-3187	314	9	biases	bias	NOUN
fsr-3187	314	10	such	such	ADJ
fsr-3187	314	11	as	as	ADP
fsr-3187	314	12	the	the	DET
fsr-3187	314	13	market	market	NOUN
fsr-3187	314	14	risk	risk	NOUN
fsr-3187	314	15	premium	premium	NOUN
fsr-3187	314	16	,	,	PUNCT
fsr-3187	314	17	growth	growth	NOUN
fsr-3187	314	18	and	and	CCONJ
fsr-3187	314	19	size	size	NOUN
fsr-3187	314	20	premiums	premium	NOUN
fsr-3187	314	21	,	,	PUNCT
fsr-3187	314	22	and	and	CCONJ
fsr-3187	314	23	momentum	momentum	NOUN
fsr-3187	314	24	effects	effect	NOUN
fsr-3187	314	25	,	,	PUNCT
fsr-3187	314	26	healthcare	healthcare	NOUN
fsr-3187	314	27	funds	fund	NOUN
fsr-3187	314	28	outperform	outperform	VERB
fsr-3187	314	29	the	the	DET
fsr-3187	314	30	market	market	NOUN
fsr-3187	314	31	by	by	ADP
fsr-3187	314	32	roughly	roughly	ADV
fsr-3187	314	33	3	3	NUM
fsr-3187	314	34	%	%	NOUN
fsr-3187	314	35	per	per	ADP
fsr-3187	314	36	year	year	NOUN
fsr-3187	314	37	.	.	PUNCT
fsr-3187	315	1	results	result	NOUN
fsr-3187	315	2	of	of	ADP
fsr-3187	315	3	this	this	DET
fsr-3187	315	4	study	study	NOUN
fsr-3187	315	5	suggest	suggest	VERB
fsr-3187	315	6	that	that	SCONJ
fsr-3187	315	7	retail	retail	ADJ
fsr-3187	315	8	investors	investor	NOUN
fsr-3187	315	9	can	can	AUX
fsr-3187	315	10	add	add	VERB
fsr-3187	315	11	value	value	NOUN
fsr-3187	315	12	to	to	ADP
fsr-3187	315	13	their	their	PRON
fsr-3187	315	14	overall	overall	ADJ
fsr-3187	315	15	portfolio	portfolio	NOUN
fsr-3187	315	16	by	by	ADP
fsr-3187	315	17	including	include	VERB
fsr-3187	315	18	a	a	DET
fsr-3187	315	19	portion	portion	NOUN
fsr-3187	315	20	of	of	ADP
fsr-3187	315	21	their	their	PRON
fsr-3187	315	22	investment	investment	NOUN
fsr-3187	315	23	in	in	ADP
fsr-3187	315	24	healthcare	healthcare	NOUN
fsr-3187	315	25	funds	fund	NOUN
fsr-3187	315	26	.	.	PUNCT
fsr-3187	316	1	this	this	PRON
fsr-3187	316	2	will	will	AUX
fsr-3187	316	3	not	not	PART
fsr-3187	316	4	only	only	ADV
fsr-3187	316	5	give	give	VERB
fsr-3187	316	6	them	they	PRON
fsr-3187	316	7	necessary	necessary	ADJ
fsr-3187	316	8	diversification	diversification	NOUN
fsr-3187	316	9	,	,	PUNCT
fsr-3187	316	10	but	but	CCONJ
fsr-3187	316	11	also	also	ADV
fsr-3187	316	12	improves	improve	VERB
fsr-3187	316	13	their	their	PRON
fsr-3187	316	14	chances	chance	NOUN
fsr-3187	316	15	of	of	ADP
fsr-3187	316	16	earning	earn	VERB
fsr-3187	316	17	higher	high	ADJ
fsr-3187	316	18	return	return	NOUN
fsr-3187	316	19	on	on	ADP
fsr-3187	316	20	invested	invest	VERB
fsr-3187	316	21	capital	capital	NOUN
fsr-3187	316	22	.	.	PUNCT
fsr-3187	317	1	the	the	DET
fsr-3187	317	2	other	other	ADJ
fsr-3187	317	3	point	point	NOUN
fsr-3187	317	4	of	of	ADP
fsr-3187	317	5	enquiry	enquiry	NOUN
fsr-3187	317	6	was	be	AUX
fsr-3187	317	7	to	to	PART
fsr-3187	317	8	evaluate	evaluate	VERB
fsr-3187	317	9	whether	whether	SCONJ
fsr-3187	317	10	this	this	DET
fsr-3187	317	11	performance	performance	NOUN
fsr-3187	317	12	persists	persist	VERB
fsr-3187	317	13	over	over	ADP
fsr-3187	317	14	subsequent	subsequent	ADJ
fsr-3187	317	15	periods	period	NOUN
fsr-3187	317	16	?	?	PUNCT
fsr-3187	318	1	we	we	PRON
fsr-3187	318	2	follow	follow	VERB
fsr-3187	318	3	carhart	carhart	NOUN
fsr-3187	318	4	(	(	PUNCT
fsr-3187	318	5	1997	1997	NUM
fsr-3187	318	6	)	)	PUNCT
fsr-3187	318	7	and	and	CCONJ
fsr-3187	318	8	berk	berk	PROPN
fsr-3187	318	9	and	and	CCONJ
fsr-3187	318	10	green	green	ADJ
fsr-3187	318	11	(	(	PUNCT
fsr-3187	318	12	2004	2004	NUM
fsr-3187	318	13	)	)	PUNCT
fsr-3187	318	14	methodologies	methodology	NOUN
fsr-3187	318	15	and	and	CCONJ
fsr-3187	318	16	created	create	VERB
fsr-3187	318	17	quintiles	quintile	NOUN
fsr-3187	318	18	based	base	VERB
fsr-3187	318	19	on	on	ADP
fsr-3187	318	20	previous	previous	ADJ
fsr-3187	318	21	year	year	NOUN
fsr-3187	318	22	’s	’s	PART
fsr-3187	318	23	annual	annual	ADJ
fsr-3187	318	24	returns	return	NOUN
fsr-3187	318	25	and	and	CCONJ
fsr-3187	318	26	formed	form	VERB
fsr-3187	318	27	“	"	PUNCT
fsr-3187	318	28	winner	winner	NOUN
fsr-3187	318	29	”	"	PUNCT
fsr-3187	318	30	and	and	CCONJ
fsr-3187	318	31	“	"	PUNCT
fsr-3187	318	32	loser	loser	NOUN
fsr-3187	318	33	”	"	PUNCT
fsr-3187	318	34	portfolios	portfolio	NOUN
fsr-3187	318	35	that	that	PRON
fsr-3187	318	36	were	be	AUX
fsr-3187	318	37	rebalanced	rebalance	VERB
fsr-3187	318	38	every	every	DET
fsr-3187	318	39	year	year	NOUN
fsr-3187	318	40	.	.	PUNCT
fsr-3187	319	1	we	we	PRON
fsr-3187	319	2	use	use	VERB
fsr-3187	319	3	portfolio	portfolio	NOUN
fsr-3187	319	4	based	base	VERB
fsr-3187	319	5	approach	approach	NOUN
fsr-3187	319	6	to	to	PART
fsr-3187	319	7	evaluate	evaluate	VERB
fsr-3187	319	8	persistence	persistence	NOUN
fsr-3187	319	9	effect	effect	NOUN
fsr-3187	319	10	for	for	ADP
fsr-3187	319	11	both	both	CCONJ
fsr-3187	319	12	short	short	ADJ
fsr-3187	319	13	and	and	CCONJ
fsr-3187	319	14	long	long	ADJ
fsr-3187	319	15	terms	term	NOUN
fsr-3187	319	16	.	.	PUNCT
fsr-3187	320	1	the	the	DET
fsr-3187	320	2	results	result	NOUN
fsr-3187	320	3	of	of	ADP
fsr-3187	320	4	this	this	DET
fsr-3187	320	5	study	study	NOUN
fsr-3187	320	6	show	show	VERB
fsr-3187	320	7	that	that	SCONJ
fsr-3187	320	8	both	both	PRON
fsr-3187	320	9	winner	winner	NOUN
fsr-3187	320	10	and	and	CCONJ
fsr-3187	320	11	loser	loser	ADJ
fsr-3187	320	12	portfolios	portfolio	NOUN
fsr-3187	320	13	are	be	AUX
fsr-3187	320	14	unable	unable	ADJ
fsr-3187	320	15	to	to	PART
fsr-3187	320	16	repeat	repeat	VERB
fsr-3187	320	17	their	their	PRON
fsr-3187	320	18	over	over	ADV
fsr-3187	320	19	and	and	CCONJ
fsr-3187	320	20	under	under	ADP
fsr-3187	320	21	performances	performance	NOUN
fsr-3187	320	22	.	.	PUNCT
fsr-3187	321	1	results	result	NOUN
fsr-3187	321	2	show	show	VERB
fsr-3187	321	3	that	that	SCONJ
fsr-3187	321	4	performance	performance	NOUN
fsr-3187	321	5	is	be	AUX
fsr-3187	321	6	mean	mean	VERB
fsr-3187	321	7	reverting	revert	VERB
fsr-3187	321	8	for	for	ADP
fsr-3187	321	9	both	both	CCONJ
fsr-3187	321	10	winner	winner	NOUN
fsr-3187	321	11	and	and	CCONJ
fsr-3187	321	12	loser	loser	ADJ
fsr-3187	321	13	portfolios	portfolio	NOUN
fsr-3187	321	14	.	.	PUNCT
fsr-3187	322	1	notes	note	VERB
fsr-3187	322	2	1	1	NUM
fsr-3187	322	3	grinblatt	grinblatt	NOUN
fsr-3187	322	4	and	and	CCONJ
fsr-3187	322	5	titman	titman	NOUN
fsr-3187	322	6	(	(	PUNCT
fsr-3187	322	7	1989	1989	NUM
fsr-3187	322	8	,	,	PUNCT
fsr-3187	322	9	1994	1994	NUM
fsr-3187	322	10	)	)	PUNCT
fsr-3187	322	11	,	,	PUNCT
fsr-3187	322	12	wermers	wermer	NOUN
fsr-3187	322	13	(	(	PUNCT
fsr-3187	322	14	1997	1997	NUM
fsr-3187	322	15	)	)	PUNCT
fsr-3187	322	16	findings	finding	NOUN
fsr-3187	322	17	show	show	VERB
fsr-3187	322	18	that	that	SCONJ
fsr-3187	322	19	mangers	manger	NOUN
fsr-3187	322	20	’	'	PUNCT
fsr-3187	322	21	are	be	AUX
fsr-3187	322	22	able	able	ADJ
fsr-3187	322	23	to	to	PART
fsr-3187	322	24	beat	beat	VERB
fsr-3187	322	25	corresponding	corresponding	ADJ
fsr-3187	322	26	benchmarks	benchmark	NOUN
fsr-3187	322	27	before	before	SCONJ
fsr-3187	322	28	any	any	DET
fsr-3187	322	29	expenses	expense	NOUN
fsr-3187	322	30	are	be	AUX
fsr-3187	322	31	considered	consider	VERB
fsr-3187	322	32	.	.	PUNCT
fsr-3187	323	1	2	2	NUM
fsr-3187	323	2	analyzing	analyze	VERB
fsr-3187	323	3	the	the	DET
fsr-3187	323	4	performance	performance	NOUN
fsr-3187	323	5	of	of	ADP
fsr-3187	323	6	equity	equity	NOUN
fsr-3187	323	7	funds	fund	NOUN
fsr-3187	323	8	,	,	PUNCT
fsr-3187	323	9	wermers	wermer	NOUN
fsr-3187	323	10	(	(	PUNCT
fsr-3187	323	11	2000	2000	NUM
fsr-3187	323	12	)	)	PUNCT
fsr-3187	323	13	finds	find	VERB
fsr-3187	323	14	that	that	SCONJ
fsr-3187	323	15	funds	fund	NOUN
fsr-3187	323	16	outperform	outperform	VERB
fsr-3187	323	17	corresponding	correspond	VERB
fsr-3187	323	18	benchmark	benchmark	NOUN
fsr-3187	323	19	by	by	ADP
fsr-3187	323	20	1.3	1.3	NUM
fsr-3187	323	21	%	%	NOUN
fsr-3187	323	22	;	;	PUNCT
fsr-3187	323	23	however	however	ADV
fsr-3187	323	24	,	,	PUNCT
fsr-3187	323	25	the	the	DET
fsr-3187	323	26	same	same	ADJ
fsr-3187	323	27	funds	fund	NOUN
fsr-3187	323	28	on	on	ADP
fsr-3187	323	29	net	net	ADJ
fsr-3187	323	30	return	return	NOUN
fsr-3187	323	31	basis	basis	NOUN
fsr-3187	323	32	underperform	underperform	NOUN
fsr-3187	323	33	corresponding	correspond	VERB
fsr-3187	323	34	benchmark	benchmark	NOUN
fsr-3187	323	35	by	by	ADP
fsr-3187	323	36	1	1	NUM
fsr-3187	323	37	%	%	NOUN
fsr-3187	323	38	.	.	PUNCT
fsr-3187	324	1	89a	89a	NOUN
fsr-3187	324	2	.	.	PUNCT
fsr-3187	325	1	kaushik	kaushik	PROPN
fsr-3187	325	2	et	et	PROPN
fsr-3187	325	3	al	al	PROPN
fsr-3187	325	4	.	.	PUNCT
fsr-3187	325	5	/	/	SYM
fsr-3187	325	6	financial	financial	ADJ
fsr-3187	325	7	services	service	NOUN
fsr-3187	325	8	review	review	VERB
fsr-3187	325	9	23	23	NUM
fsr-3187	325	10	(	(	PUNCT
fsr-3187	325	11	2014	2014	NUM
fsr-3187	325	12	)	)	PUNCT
fsr-3187	325	13	77–91	77–91	NUM
fsr-3187	325	14	3	3	NUM
fsr-3187	325	15	source	source	NOUN
fsr-3187	325	16	:	:	PUNCT
fsr-3187	325	17	morningstar	morningstar	PROPN
fsr-3187	325	18	direct	direct	ADJ
fsr-3187	325	19	database	database	NOUN
fsr-3187	325	20	.	.	PUNCT
fsr-3187	326	1	4	4	NUM
fsr-3187	326	2	source	source	NOUN
fsr-3187	326	3	:	:	PUNCT
fsr-3187	326	4	investment	investment	NOUN
fsr-3187	326	5	company	company	PROPN
fsr-3187	326	6	institute	institute	NOUN
fsr-3187	326	7	factbook	factbook	PROPN
fsr-3187	326	8	2012	2012	NUM
fsr-3187	326	9	.	.	PUNCT
fsr-3187	327	1	5	5	NUM
fsr-3187	327	2	why	why	SCONJ
fsr-3187	327	3	might	might	AUX
fsr-3187	327	4	an	an	DET
fsr-3187	327	5	investor	investor	NOUN
fsr-3187	327	6	consider	consider	VERB
fsr-3187	327	7	the	the	DET
fsr-3187	327	8	health	health	NOUN
fsr-3187	327	9	care	care	NOUN
fsr-3187	327	10	sector	sector	NOUN
fsr-3187	327	11	?	?	PUNCT
fsr-3187	328	1	fidelity	fidelity	PROPN
fsr-3187	328	2	investments	investment	NOUN
fsr-3187	328	3	.	.	PUNCT
fsr-3187	329	1	6	6	NUM
fsr-3187	329	2	“	"	PUNCT
fsr-3187	329	3	the	the	DET
fsr-3187	329	4	truly	truly	ADV
fsr-3187	329	5	staggering	staggering	ADJ
fsr-3187	329	6	cost	cost	NOUN
fsr-3187	329	7	of	of	ADP
fsr-3187	329	8	inventing	invent	VERB
fsr-3187	329	9	new	new	ADJ
fsr-3187	329	10	drugs	drug	NOUN
fsr-3187	329	11	,	,	PUNCT
fsr-3187	329	12	”	"	PUNCT
fsr-3187	329	13	forbes	forbes	PROPN
fsr-3187	329	14	,	,	PUNCT
fsr-3187	329	15	february	february	PROPN
fsr-3187	329	16	10	10	NUM
fsr-3187	329	17	,	,	PUNCT
fsr-3187	329	18	2012	2012	NUM
fsr-3187	329	19	.	.	PUNCT
fsr-3187	330	1	7	7	NUM
fsr-3187	330	2	“	"	PUNCT
fsr-3187	330	3	drugs	drug	NOUN
fsr-3187	330	4	firms	firm	NOUN
fsr-3187	330	5	face	face	VERB
fsr-3187	330	6	billions	billion	NOUN
fsr-3187	330	7	in	in	ADP
fsr-3187	330	8	losses	loss	NOUN
fsr-3187	330	9	in	in	ADP
fsr-3187	330	10	’	’	NUM
fsr-3187	330	11	11	11	NUM
fsr-3187	330	12	as	as	SCONJ
fsr-3187	330	13	patents	patent	NOUN
fsr-3187	330	14	end	end	VERB
fsr-3187	330	15	,	,	PUNCT
fsr-3187	330	16	”	"	PUNCT
fsr-3187	330	17	the	the	DET
fsr-3187	330	18	new	new	PROPN
fsr-3187	330	19	york	york	PROPN
fsr-3187	330	20	times	times	PROPN
fsr-3187	330	21	,	,	PUNCT
fsr-3187	330	22	march	march	PROPN
fsr-3187	330	23	6	6	NUM
fsr-3187	330	24	,	,	PUNCT
fsr-3187	330	25	2011	2011	NUM
fsr-3187	330	26	.	.	PUNCT
fsr-3187	331	1	8	8	NUM
fsr-3187	331	2	many	many	ADJ
fsr-3187	331	3	articles	article	NOUN
fsr-3187	331	4	(	(	PUNCT
fsr-3187	331	5	dellva	dellva	NOUN
fsr-3187	331	6	,	,	PUNCT
fsr-3187	331	7	demaskey	demaskey	ADJ
fsr-3187	331	8	,	,	PUNCT
fsr-3187	331	9	and	and	CCONJ
fsr-3187	331	10	smith	smith	PROPN
fsr-3187	331	11	,	,	PUNCT
fsr-3187	331	12	2001	2001	NUM
fsr-3187	331	13	;	;	PUNCT
fsr-3187	331	14	khorana	khorana	PROPN
fsr-3187	331	15	and	and	CCONJ
fsr-3187	331	16	nelling	nelling	NOUN
fsr-3187	331	17	,	,	PUNCT
fsr-3187	331	18	1997	1997	NUM
fsr-3187	331	19	)	)	PUNCT
fsr-3187	331	20	;	;	PUNCT
fsr-3187	331	21	the	the	DET
fsr-3187	331	22	investment	investment	NOUN
fsr-3187	331	23	company	company	NOUN
fsr-3187	331	24	institute	institute	NOUN
fsr-3187	331	25	among	among	ADP
fsr-3187	331	26	others	other	NOUN
fsr-3187	331	27	define	define	VERB
fsr-3187	331	28	sector	sector	NOUN
fsr-3187	331	29	funds	fund	NOUN
fsr-3187	331	30	as	as	ADP
fsr-3187	331	31	funds	fund	NOUN
fsr-3187	331	32	that	that	PRON
fsr-3187	331	33	seek	seek	VERB
fsr-3187	331	34	capital	capital	NOUN
fsr-3187	331	35	appreciation	appreciation	NOUN
fsr-3187	331	36	through	through	ADP
fsr-3187	331	37	their	their	PRON
fsr-3187	331	38	own	own	ADJ
fsr-3187	331	39	specialized	specialized	ADJ
fsr-3187	331	40	(	(	PUNCT
fsr-3187	331	41	narrow	narrow	ADJ
fsr-3187	331	42	)	)	PUNCT
fsr-3187	331	43	objectives	objective	NOUN
fsr-3187	331	44	.	.	PUNCT
fsr-3187	332	1	references	reference	NOUN
fsr-3187	332	2	berk	berk	PROPN
fsr-3187	332	3	,	,	PUNCT
fsr-3187	332	4	j.	j.	PROPN
fsr-3187	332	5	b.	b.	PROPN
fsr-3187	332	6	,	,	PUNCT
fsr-3187	332	7	&	&	CCONJ
fsr-3187	332	8	green	green	PROPN
fsr-3187	332	9	,	,	PUNCT
fsr-3187	332	10	r.	r.	PROPN
fsr-3187	332	11	c.	c.	PROPN
fsr-3187	332	12	(	(	PUNCT
fsr-3187	332	13	2004	2004	NUM
fsr-3187	332	14	)	)	PUNCT
fsr-3187	332	15	.	.	PUNCT
fsr-3187	333	1	mutual	mutual	ADJ
fsr-3187	333	2	fund	fund	NOUN
fsr-3187	333	3	flows	flow	NOUN
fsr-3187	333	4	and	and	CCONJ
fsr-3187	333	5	performance	performance	NOUN
fsr-3187	333	6	in	in	ADP
fsr-3187	333	7	rational	rational	ADJ
fsr-3187	333	8	markets	market	NOUN
fsr-3187	333	9	.	.	PUNCT
fsr-3187	334	1	journal	journal	NOUN
fsr-3187	334	2	of	of	ADP
fsr-3187	334	3	political	political	ADJ
fsr-3187	334	4	economy	economy	NOUN
fsr-3187	334	5	,	,	PUNCT
fsr-3187	334	6	112	112	NUM
fsr-3187	334	7	,	,	PUNCT
fsr-3187	334	8	1269–1295	1269–1295	NUM
fsr-3187	334	9	.	.	PUNCT
fsr-3187	335	1	brooks	brooks	PROPN
fsr-3187	335	2	,	,	PUNCT
fsr-3187	335	3	l.	l.	PROPN
fsr-3187	335	4	d.	d.	PROPN
fsr-3187	335	5	,	,	PUNCT
fsr-3187	335	6	&	&	CCONJ
fsr-3187	335	7	porter	porter	NOUN
fsr-3187	335	8	,	,	PUNCT
fsr-3187	335	9	g.	g.	PROPN
fsr-3187	335	10	e.	e.	PROPN
fsr-3187	335	11	(	(	PUNCT
fsr-3187	335	12	2012	2012	NUM
fsr-3187	335	13	)	)	PUNCT
fsr-3187	335	14	.	.	PUNCT
fsr-3187	336	1	mutual	mutual	ADJ
fsr-3187	336	2	fund	fund	NOUN
fsr-3187	336	3	performance	performance	NOUN
fsr-3187	336	4	attribution	attribution	NOUN
fsr-3187	336	5	:	:	PUNCT
fsr-3187	336	6	1994–2005	1994–2005	NUM
fsr-3187	336	7	.	.	PUNCT
fsr-3187	337	1	financial	financial	ADJ
fsr-3187	337	2	services	service	NOUN
fsr-3187	337	3	review	review	PROPN
fsr-3187	337	4	,	,	PUNCT
fsr-3187	337	5	21	21	NUM
fsr-3187	337	6	,	,	PUNCT
fsr-3187	337	7	259–273	259–273	NUM
fsr-3187	337	8	.	.	PUNCT
fsr-3187	338	1	brown	brown	PROPN
fsr-3187	338	2	,	,	PUNCT
fsr-3187	338	3	k.	k.	PROPN
fsr-3187	338	4	c.	c.	PROPN
fsr-3187	338	5	,	,	PUNCT
fsr-3187	338	6	harlow	harlow	PROPN
fsr-3187	338	7	,	,	PUNCT
fsr-3187	338	8	w.	w.	PROPN
fsr-3187	338	9	v.	v.	PROPN
fsr-3187	338	10	,	,	PUNCT
fsr-3187	338	11	&	&	CCONJ
fsr-3187	338	12	starks	starks	PROPN
fsr-3187	338	13	,	,	PUNCT
fsr-3187	338	14	l.	l.	PROPN
fsr-3187	338	15	t.	t.	PROPN
fsr-3187	338	16	(	(	PUNCT
fsr-3187	338	17	1996	1996	NUM
fsr-3187	338	18	)	)	PUNCT
fsr-3187	338	19	.	.	PUNCT
fsr-3187	339	1	of	of	ADP
fsr-3187	339	2	tournaments	tournament	NOUN
fsr-3187	339	3	and	and	CCONJ
fsr-3187	339	4	temptations	temptation	NOUN
fsr-3187	339	5	:	:	PUNCT
fsr-3187	339	6	an	an	DET
fsr-3187	339	7	analysis	analysis	NOUN
fsr-3187	339	8	of	of	ADP
fsr-3187	339	9	managerial	managerial	ADJ
fsr-3187	339	10	incentives	incentive	NOUN
fsr-3187	339	11	in	in	ADP
fsr-3187	339	12	the	the	DET
fsr-3187	339	13	mutual	mutual	ADJ
fsr-3187	339	14	fund	fund	NOUN
fsr-3187	339	15	industry	industry	NOUN
fsr-3187	339	16	.	.	PUNCT
fsr-3187	340	1	journal	journal	PROPN
fsr-3187	340	2	of	of	ADP
fsr-3187	340	3	finance	finance	NOUN
fsr-3187	340	4	,	,	PUNCT
fsr-3187	340	5	51	51	NUM
fsr-3187	340	6	,	,	PUNCT
fsr-3187	340	7	85–110	85–110	PROPN
fsr-3187	340	8	.	.	PUNCT
fsr-3187	341	1	burlacu	burlacu	PROPN
fsr-3187	341	2	,	,	PUNCT
fsr-3187	341	3	r.	r.	PROPN
fsr-3187	341	4	,	,	PUNCT
fsr-3187	341	5	&	&	CCONJ
fsr-3187	341	6	fontaine	fontaine	PROPN
fsr-3187	341	7	,	,	PUNCT
fsr-3187	341	8	p.	p.	NOUN
fsr-3187	341	9	(	(	PUNCT
fsr-3187	341	10	2003	2003	NUM
fsr-3187	341	11	)	)	PUNCT
fsr-3187	341	12	.	.	PUNCT
fsr-3187	342	1	sector	sector	NOUN
fsr-3187	342	2	funds	fund	NOUN
fsr-3187	342	3	in	in	ADP
fsr-3187	342	4	europe	europe	PROPN
fsr-3187	342	5	:	:	PUNCT
fsr-3187	342	6	performance	performance	NOUN
fsr-3187	342	7	,	,	PUNCT
fsr-3187	342	8	selectivity	selectivity	NOUN
fsr-3187	342	9	and	and	CCONJ
fsr-3187	342	10	market	market	NOUN
fsr-3187	342	11	timing	timing	NOUN
fsr-3187	342	12	.	.	PUNCT
fsr-3187	343	1	markets	market	NOUN
fsr-3187	343	2	and	and	CCONJ
fsr-3187	343	3	bank	bank	NOUN
fsr-3187	343	4	,	,	PUNCT
fsr-3187	343	5	65	65	NUM
fsr-3187	343	6	,	,	PUNCT
fsr-3187	343	7	1–27	1–27	PROPN
fsr-3187	343	8	.	.	PUNCT
fsr-3187	343	9	carhart	carhart	NOUN
fsr-3187	343	10	,	,	PUNCT
fsr-3187	343	11	m.	m.	NOUN
fsr-3187	343	12	m.	m.	NOUN
fsr-3187	343	13	(	(	PUNCT
fsr-3187	343	14	1997	1997	NUM
fsr-3187	343	15	)	)	PUNCT
fsr-3187	343	16	.	.	PUNCT
fsr-3187	344	1	on	on	ADP
fsr-3187	344	2	persistence	persistence	NOUN
fsr-3187	344	3	in	in	ADP
fsr-3187	344	4	mutual	mutual	ADJ
fsr-3187	344	5	fund	fund	NOUN
fsr-3187	344	6	performance	performance	NOUN
fsr-3187	344	7	.	.	PUNCT
fsr-3187	345	1	journal	journal	PROPN
fsr-3187	345	2	of	of	ADP
fsr-3187	345	3	finance	finance	NOUN
fsr-3187	345	4	,	,	PUNCT
fsr-3187	345	5	52	52	NUM
fsr-3187	345	6	,	,	PUNCT
fsr-3187	345	7	57–82	57–82	NUM
fsr-3187	345	8	.	.	PUNCT
fsr-3187	346	1	chen	chen	PROPN
fsr-3187	346	2	,	,	PUNCT
fsr-3187	346	3	j.	j.	PROPN
fsr-3187	346	4	,	,	PUNCT
fsr-3187	346	5	hong	hong	PROPN
fsr-3187	346	6	,	,	PUNCT
fsr-3187	346	7	h.	h.	PROPN
fsr-3187	346	8	,	,	PUNCT
fsr-3187	346	9	huang	huang	PROPN
fsr-3187	346	10	,	,	PUNCT
fsr-3187	346	11	m.	m.	NOUN
fsr-3187	346	12	,	,	PUNCT
fsr-3187	346	13	&	&	CCONJ
fsr-3187	346	14	kubik	kubik	PROPN
fsr-3187	346	15	,	,	PUNCT
fsr-3187	346	16	j.	j.	PROPN
fsr-3187	346	17	d.	d.	PROPN
fsr-3187	346	18	(	(	PUNCT
fsr-3187	346	19	2004	2004	NUM
fsr-3187	346	20	)	)	PUNCT
fsr-3187	346	21	.	.	PUNCT
fsr-3187	347	1	does	do	AUX
fsr-3187	347	2	fund	fund	VERB
fsr-3187	347	3	size	size	NOUN
fsr-3187	347	4	erode	erode	VERB
fsr-3187	347	5	mutual	mutual	ADJ
fsr-3187	347	6	fund	fund	NOUN
fsr-3187	347	7	performance	performance	NOUN
fsr-3187	347	8	?	?	PUNCT
fsr-3187	348	1	the	the	DET
fsr-3187	348	2	role	role	NOUN
fsr-3187	348	3	of	of	ADP
fsr-3187	348	4	liquidity	liquidity	NOUN
fsr-3187	348	5	and	and	CCONJ
fsr-3187	348	6	organization	organization	NOUN
fsr-3187	348	7	.	.	PUNCT
fsr-3187	349	1	american	american	PROPN
fsr-3187	349	2	economic	economic	PROPN
fsr-3187	349	3	review	review	PROPN
fsr-3187	349	4	,	,	PUNCT
fsr-3187	349	5	94	94	NUM
fsr-3187	349	6	,	,	PUNCT
fsr-3187	349	7	1276–1302	1276–1302	NUM
fsr-3187	349	8	.	.	PUNCT
fsr-3187	350	1	dahlquist	dahlquist	NOUN
fsr-3187	350	2	,	,	PUNCT
fsr-3187	350	3	m.	m.	NOUN
fsr-3187	350	4	,	,	PUNCT
fsr-3187	350	5	engström	engström	NOUN
fsr-3187	350	6	,	,	PUNCT
fsr-3187	350	7	s.	s.	PROPN
fsr-3187	350	8	,	,	PUNCT
fsr-3187	350	9	&	&	CCONJ
fsr-3187	350	10	söderlind	söderlind	PROPN
fsr-3187	350	11	,	,	PUNCT
fsr-3187	350	12	p.	p.	NOUN
fsr-3187	350	13	(	(	PUNCT
fsr-3187	350	14	2000	2000	NUM
fsr-3187	350	15	)	)	PUNCT
fsr-3187	350	16	.	.	PUNCT
fsr-3187	351	1	performance	performance	NOUN
fsr-3187	351	2	and	and	CCONJ
fsr-3187	351	3	characteristics	characteristic	NOUN
fsr-3187	351	4	of	of	ADP
fsr-3187	351	5	swedish	swedish	ADJ
fsr-3187	351	6	mutual	mutual	ADJ
fsr-3187	351	7	funds	fund	NOUN
fsr-3187	351	8	.	.	PUNCT
fsr-3187	352	1	journal	journal	NOUN
fsr-3187	352	2	of	of	ADP
fsr-3187	352	3	financial	financial	ADJ
fsr-3187	352	4	and	and	CCONJ
fsr-3187	352	5	quantitative	quantitative	ADJ
fsr-3187	352	6	analysis	analysis	NOUN
fsr-3187	352	7	,	,	PUNCT
fsr-3187	352	8	35	35	NUM
fsr-3187	352	9	,	,	PUNCT
fsr-3187	352	10	409–423	409–423	NUM
fsr-3187	352	11	.	.	PUNCT
fsr-3187	353	1	dellva	dellva	PROPN
fsr-3187	353	2	,	,	PUNCT
fsr-3187	353	3	l.	l.	PROPN
fsr-3187	353	4	w.	w.	PROPN
fsr-3187	353	5	,	,	PUNCT
fsr-3187	353	6	demaskey	demaskey	PROPN
fsr-3187	353	7	,	,	PUNCT
fsr-3187	353	8	a.	a.	PROPN
fsr-3187	353	9	l.	l.	PROPN
fsr-3187	353	10	,	,	PUNCT
fsr-3187	353	11	&	&	CCONJ
fsr-3187	353	12	smith	smith	PROPN
fsr-3187	353	13	,	,	PUNCT
fsr-3187	353	14	c.	c.	PROPN
fsr-3187	353	15	a.	a.	PROPN
fsr-3187	353	16	(	(	PUNCT
fsr-3187	353	17	2001	2001	NUM
fsr-3187	353	18	)	)	PUNCT
fsr-3187	353	19	.	.	PUNCT
fsr-3187	354	1	selectivity	selectivity	NOUN
fsr-3187	354	2	and	and	CCONJ
fsr-3187	354	3	market	market	NOUN
fsr-3187	354	4	timing	timing	NOUN
fsr-3187	354	5	performance	performance	NOUN
fsr-3187	354	6	of	of	ADP
fsr-3187	354	7	fidelity	fidelity	NOUN
fsr-3187	354	8	sector	sector	NOUN
fsr-3187	354	9	mutual	mutual	ADJ
fsr-3187	354	10	funds	fund	NOUN
fsr-3187	354	11	.	.	PUNCT
fsr-3187	355	1	the	the	DET
fsr-3187	355	2	financial	financial	PROPN
fsr-3187	355	3	review	review	NOUN
fsr-3187	355	4	,	,	PUNCT
fsr-3187	355	5	36	36	NUM
fsr-3187	355	6	,	,	PUNCT
fsr-3187	355	7	39–54	39–54	NUM
fsr-3187	355	8	.	.	PUNCT
fsr-3187	356	1	fama	fama	PROPN
fsr-3187	356	2	,	,	PUNCT
fsr-3187	356	3	e.	e.	PROPN
fsr-3187	356	4	f.	f.	PROPN
fsr-3187	356	5	,	,	PUNCT
fsr-3187	356	6	&	&	CCONJ
fsr-3187	356	7	french	french	PROPN
fsr-3187	356	8	,	,	PUNCT
fsr-3187	356	9	k.	k.	PROPN
fsr-3187	356	10	r.	r.	PROPN
fsr-3187	356	11	(	(	PUNCT
fsr-3187	356	12	1993	1993	NUM
fsr-3187	356	13	)	)	PUNCT
fsr-3187	356	14	.	.	PUNCT
fsr-3187	357	1	common	common	ADJ
fsr-3187	357	2	risk	risk	NOUN
fsr-3187	357	3	factors	factor	NOUN
fsr-3187	357	4	in	in	ADP
fsr-3187	357	5	the	the	DET
fsr-3187	357	6	return	return	NOUN
fsr-3187	357	7	on	on	ADP
fsr-3187	357	8	bonds	bond	NOUN
fsr-3187	357	9	and	and	CCONJ
fsr-3187	357	10	stocks	stock	NOUN
fsr-3187	357	11	.	.	PUNCT
fsr-3187	358	1	journal	journal	NOUN
fsr-3187	358	2	of	of	ADP
fsr-3187	358	3	financial	financial	ADJ
fsr-3187	358	4	economics	economic	NOUN
fsr-3187	358	5	,	,	PUNCT
fsr-3187	358	6	33	33	NUM
fsr-3187	358	7	,	,	PUNCT
fsr-3187	358	8	3–53	3–53	NOUN
fsr-3187	358	9	.	.	PUNCT
fsr-3187	359	1	fama	fama	PROPN
fsr-3187	359	2	,	,	PUNCT
fsr-3187	359	3	f.	f.	PROPN
fsr-3187	359	4	e.	e.	PROPN
fsr-3187	359	5	,	,	PUNCT
fsr-3187	359	6	&	&	CCONJ
fsr-3187	359	7	macbeth	macbeth	PROPN
fsr-3187	359	8	,	,	PUNCT
fsr-3187	359	9	j.	j.	PROPN
fsr-3187	359	10	(	(	PUNCT
fsr-3187	359	11	1973	1973	NUM
fsr-3187	359	12	)	)	PUNCT
fsr-3187	359	13	.	.	PUNCT
fsr-3187	360	1	risk	risk	NOUN
fsr-3187	360	2	,	,	PUNCT
fsr-3187	360	3	return	return	NOUN
fsr-3187	360	4	,	,	PUNCT
fsr-3187	360	5	and	and	CCONJ
fsr-3187	360	6	equilibrium	equilibrium	NOUN
fsr-3187	360	7	:	:	PUNCT
fsr-3187	360	8	empirical	empirical	ADJ
fsr-3187	360	9	tests	test	NOUN
fsr-3187	360	10	.	.	PUNCT
fsr-3187	361	1	journal	journal	NOUN
fsr-3187	361	2	of	of	ADP
fsr-3187	361	3	political	political	ADJ
fsr-3187	361	4	economy	economy	NOUN
fsr-3187	361	5	,	,	PUNCT
fsr-3187	361	6	81	81	NUM
fsr-3187	361	7	,	,	PUNCT
fsr-3187	361	8	607–636	607–636	NUM
fsr-3187	361	9	.	.	PUNCT
fsr-3187	362	1	fan	fan	PROPN
fsr-3187	362	2	,	,	PUNCT
fsr-3187	362	3	y.	y.	PROPN
fsr-3187	362	4	,	,	PUNCT
fsr-3187	362	5	&	&	CCONJ
fsr-3187	362	6	addams	addams	PROPN
fsr-3187	362	7	,	,	PUNCT
fsr-3187	362	8	h.	h.	PROPN
fsr-3187	362	9	l.	l.	PROPN
fsr-3187	362	10	(	(	PUNCT
fsr-3187	362	11	2012	2012	NUM
fsr-3187	362	12	)	)	PUNCT
fsr-3187	362	13	.	.	PUNCT
fsr-3187	363	1	united	united	PROPN
fsr-3187	363	2	states	states	PROPN
fsr-3187	363	3	based	base	VERB
fsr-3187	363	4	international	international	ADJ
fsr-3187	363	5	mutual	mutual	ADJ
fsr-3187	363	6	funds	fund	NOUN
fsr-3187	363	7	:	:	PUNCT
fsr-3187	363	8	performance	performance	NOUN
fsr-3187	363	9	and	and	CCONJ
fsr-3187	363	10	persistence	persistence	NOUN
fsr-3187	363	11	.	.	PUNCT
fsr-3187	364	1	financial	financial	ADJ
fsr-3187	364	2	services	service	NOUN
fsr-3187	364	3	review	review	PROPN
fsr-3187	364	4	,	,	PUNCT
fsr-3187	364	5	21	21	NUM
fsr-3187	364	6	,	,	PUNCT
fsr-3187	364	7	51–61	51–61	NUM
fsr-3187	364	8	.	.	PUNCT
fsr-3187	365	1	grinblatt	grinblatt	PROPN
fsr-3187	365	2	,	,	PUNCT
fsr-3187	365	3	m.	m.	NOUN
fsr-3187	365	4	,	,	PUNCT
fsr-3187	365	5	&	&	CCONJ
fsr-3187	365	6	titman	titman	PROPN
fsr-3187	365	7	,	,	PUNCT
fsr-3187	365	8	s.	s.	PROPN
fsr-3187	365	9	(	(	PUNCT
fsr-3187	365	10	1989	1989	NUM
fsr-3187	365	11	)	)	PUNCT
fsr-3187	365	12	.	.	PUNCT
fsr-3187	366	1	mutual	mutual	ADJ
fsr-3187	366	2	fund	fund	NOUN
fsr-3187	366	3	performance	performance	NOUN
fsr-3187	366	4	:	:	PUNCT
fsr-3187	366	5	an	an	DET
fsr-3187	366	6	analysis	analysis	NOUN
fsr-3187	366	7	of	of	ADP
fsr-3187	366	8	quarterly	quarterly	ADJ
fsr-3187	366	9	portfolio	portfolio	NOUN
fsr-3187	366	10	holdings	holding	NOUN
fsr-3187	366	11	.	.	PUNCT
fsr-3187	367	1	journal	journal	PROPN
fsr-3187	367	2	of	of	ADP
fsr-3187	367	3	business	business	NOUN
fsr-3187	367	4	,	,	PUNCT
fsr-3187	367	5	62	62	NUM
fsr-3187	367	6	,	,	PUNCT
fsr-3187	367	7	393–416	393–416	NUM
fsr-3187	367	8	.	.	PUNCT
fsr-3187	368	1	grinblatt	grinblatt	PROPN
fsr-3187	368	2	m.	m.	PROPN
fsr-3187	368	3	,	,	PUNCT
fsr-3187	368	4	&	&	CCONJ
fsr-3187	368	5	titman	titman	PROPN
fsr-3187	368	6	,	,	PUNCT
fsr-3187	368	7	s.	s.	PROPN
fsr-3187	368	8	(	(	PUNCT
fsr-3187	368	9	1994	1994	NUM
fsr-3187	368	10	)	)	PUNCT
fsr-3187	368	11	.	.	PUNCT
fsr-3187	369	1	a	a	DET
fsr-3187	369	2	study	study	NOUN
fsr-3187	369	3	of	of	ADP
fsr-3187	369	4	monthly	monthly	ADJ
fsr-3187	369	5	fund	fund	NOUN
fsr-3187	369	6	returns	return	NOUN
fsr-3187	369	7	and	and	CCONJ
fsr-3187	369	8	performance	performance	NOUN
fsr-3187	369	9	evaluation	evaluation	NOUN
fsr-3187	369	10	techniques	technique	NOUN
fsr-3187	369	11	.	.	PUNCT
fsr-3187	370	1	the	the	DET
fsr-3187	370	2	journal	journal	NOUN
fsr-3187	370	3	of	of	ADP
fsr-3187	370	4	financial	financial	ADJ
fsr-3187	370	5	and	and	CCONJ
fsr-3187	370	6	quantitative	quantitative	ADJ
fsr-3187	370	7	analysis	analysis	NOUN
fsr-3187	370	8	,	,	PUNCT
fsr-3187	370	9	29	29	NUM
fsr-3187	370	10	,	,	PUNCT
fsr-3187	370	11	419–442	419–442	NUM
fsr-3187	370	12	.	.	PUNCT
fsr-3187	371	1	haslem	haslem	NOUN
fsr-3187	371	2	,	,	PUNCT
fsr-3187	371	3	j.	j.	PROPN
fsr-3187	371	4	a.	a.	PROPN
fsr-3187	371	5	,	,	PUNCT
fsr-3187	371	6	baker	baker	PROPN
fsr-3187	371	7	,	,	PUNCT
fsr-3187	371	8	k.	k.	PROPN
fsr-3187	371	9	h.	h.	PROPN
fsr-3187	371	10	,	,	PUNCT
fsr-3187	371	11	&	&	CCONJ
fsr-3187	371	12	smith	smith	PROPN
fsr-3187	371	13	,	,	PUNCT
fsr-3187	371	14	d.	d.	PROPN
fsr-3187	371	15	m.	m.	PROPN
fsr-3187	371	16	(	(	PUNCT
fsr-3187	371	17	2008	2008	NUM
fsr-3187	371	18	)	)	PUNCT
fsr-3187	371	19	.	.	PUNCT
fsr-3187	372	1	performance	performance	NOUN
fsr-3187	372	2	and	and	CCONJ
fsr-3187	372	3	characteristics	characteristic	NOUN
fsr-3187	372	4	of	of	ADP
fsr-3187	372	5	actively	actively	ADV
fsr-3187	372	6	managed	manage	VERB
fsr-3187	372	7	mutual	mutual	ADJ
fsr-3187	372	8	funds	fund	NOUN
fsr-3187	372	9	with	with	ADP
fsr-3187	372	10	diverse	diverse	ADJ
fsr-3187	372	11	expense	expense	NOUN
fsr-3187	372	12	ratios	ratio	NOUN
fsr-3187	372	13	.	.	PUNCT
fsr-3187	373	1	financial	financial	ADJ
fsr-3187	373	2	services	service	NOUN
fsr-3187	373	3	review	review	PROPN
fsr-3187	373	4	,	,	PUNCT
fsr-3187	373	5	17	17	NUM
fsr-3187	373	6	,	,	PUNCT
fsr-3187	373	7	49–68	49–68	NUM
fsr-3187	373	8	.	.	PUNCT
fsr-3187	374	1	jensen	jensen	PROPN
fsr-3187	374	2	,	,	PUNCT
fsr-3187	374	3	m.	m.	NOUN
fsr-3187	374	4	(	(	PUNCT
fsr-3187	374	5	1968	1968	NUM
fsr-3187	374	6	)	)	PUNCT
fsr-3187	374	7	.	.	PUNCT
fsr-3187	375	1	the	the	DET
fsr-3187	375	2	performance	performance	NOUN
fsr-3187	375	3	of	of	ADP
fsr-3187	375	4	mutual	mutual	ADJ
fsr-3187	375	5	funds	fund	NOUN
fsr-3187	375	6	in	in	ADP
fsr-3187	375	7	the	the	DET
fsr-3187	375	8	period	period	NOUN
fsr-3187	375	9	1945–1964	1945–1964	NUM
fsr-3187	375	10	.	.	PUNCT
fsr-3187	375	11	journal	journal	PROPN
fsr-3187	375	12	of	of	ADP
fsr-3187	375	13	finance	finance	NOUN
fsr-3187	375	14	,	,	PUNCT
fsr-3187	375	15	23	23	NUM
fsr-3187	375	16	,	,	PUNCT
fsr-3187	375	17	389–416	389–416	NUM
fsr-3187	375	18	.	.	PUNCT
fsr-3187	376	1	kacperczyk	kacperczyk	PROPN
fsr-3187	376	2	,	,	PUNCT
fsr-3187	376	3	m.	m.	NOUN
fsr-3187	376	4	,	,	PUNCT
fsr-3187	376	5	sialm	sialm	PROPN
fsr-3187	376	6	,	,	PUNCT
fsr-3187	376	7	c.	c.	PROPN
fsr-3187	376	8	,	,	PUNCT
fsr-3187	376	9	&	&	CCONJ
fsr-3187	376	10	zheng	zheng	PROPN
fsr-3187	376	11	,	,	PUNCT
fsr-3187	376	12	l.	l.	PROPN
fsr-3187	376	13	(	(	PUNCT
fsr-3187	376	14	2005	2005	NUM
fsr-3187	376	15	)	)	PUNCT
fsr-3187	376	16	.	.	PUNCT
fsr-3187	377	1	on	on	ADP
fsr-3187	377	2	the	the	DET
fsr-3187	377	3	industry	industry	NOUN
fsr-3187	377	4	concentration	concentration	NOUN
fsr-3187	377	5	of	of	ADP
fsr-3187	377	6	actively	actively	ADV
fsr-3187	377	7	managed	manage	VERB
fsr-3187	377	8	equity	equity	NOUN
fsr-3187	377	9	mutual	mutual	ADJ
fsr-3187	377	10	funds	fund	NOUN
fsr-3187	377	11	.	.	PUNCT
fsr-3187	378	1	journal	journal	PROPN
fsr-3187	378	2	of	of	ADP
fsr-3187	378	3	finance	finance	NOUN
fsr-3187	378	4	,	,	PUNCT
fsr-3187	378	5	60	60	NUM
fsr-3187	378	6	,	,	PUNCT
fsr-3187	378	7	1983–2012	1983–2012	NUM
fsr-3187	378	8	.	.	PUNCT
fsr-3187	379	1	kaushik	kaushik	PROPN
fsr-3187	379	2	,	,	PUNCT
fsr-3187	379	3	a.	a.	PROPN
fsr-3187	379	4	,	,	PUNCT
fsr-3187	379	5	&	&	CCONJ
fsr-3187	379	6	pennathur	pennathur	PROPN
fsr-3187	379	7	,	,	PUNCT
fsr-3187	379	8	a.	a.	NOUN
fsr-3187	379	9	(	(	PUNCT
fsr-3187	379	10	2012	2012	NUM
fsr-3187	379	11	)	)	PUNCT
fsr-3187	379	12	.	.	PUNCT
fsr-3187	380	1	an	an	DET
fsr-3187	380	2	empirical	empirical	ADJ
fsr-3187	380	3	examination	examination	NOUN
fsr-3187	380	4	of	of	ADP
fsr-3187	380	5	the	the	DET
fsr-3187	380	6	performance	performance	NOUN
fsr-3187	380	7	of	of	ADP
fsr-3187	380	8	real	real	ADJ
fsr-3187	380	9	estate	estate	NOUN
fsr-3187	380	10	mutual	mutual	ADJ
fsr-3187	380	11	funds	fund	NOUN
fsr-3187	380	12	1990–2008	1990–2008	NUM
fsr-3187	380	13	.	.	PUNCT
fsr-3187	381	1	financial	financial	ADJ
fsr-3187	381	2	services	service	NOUN
fsr-3187	381	3	review	review	PROPN
fsr-3187	381	4	,	,	PUNCT
fsr-3187	381	5	21	21	NUM
fsr-3187	381	6	,	,	PUNCT
fsr-3187	381	7	343–358	343–358	NUM
fsr-3187	381	8	.	.	PUNCT
fsr-3187	382	1	kaushik	kaushik	PROPN
fsr-3187	382	2	,	,	PUNCT
fsr-3187	382	3	a.	a.	PROPN
fsr-3187	382	4	,	,	PUNCT
fsr-3187	382	5	barnhart	barnhart	PROPN
fsr-3187	382	6	,	,	PUNCT
fsr-3187	382	7	s.	s.	PROPN
fsr-3187	382	8	w.	w.	PROPN
fsr-3187	382	9	,	,	PUNCT
fsr-3187	382	10	&	&	CCONJ
fsr-3187	382	11	pennathur	pennathur	PROPN
fsr-3187	382	12	,	,	PUNCT
fsr-3187	382	13	a.	a.	NOUN
fsr-3187	382	14	(	(	PUNCT
fsr-3187	382	15	2010	2010	NUM
fsr-3187	382	16	)	)	PUNCT
fsr-3187	382	17	.	.	PUNCT
fsr-3187	383	1	market	market	NOUN
fsr-3187	383	2	timing	timing	NOUN
fsr-3187	383	3	and	and	CCONJ
fsr-3187	383	4	the	the	DET
fsr-3187	383	5	determinants	determinant	NOUN
fsr-3187	383	6	of	of	ADP
fsr-3187	383	7	performance	performance	NOUN
fsr-3187	383	8	of	of	ADP
fsr-3187	383	9	sector	sector	NOUN
fsr-3187	383	10	funds	fund	NOUN
fsr-3187	383	11	over	over	ADP
fsr-3187	383	12	the	the	DET
fsr-3187	383	13	business	business	NOUN
fsr-3187	383	14	cycle	cycle	NOUN
fsr-3187	383	15	.	.	PUNCT
fsr-3187	384	1	managerial	managerial	ADJ
fsr-3187	384	2	finance	finance	NOUN
fsr-3187	384	3	,	,	PUNCT
fsr-3187	384	4	36	36	NUM
fsr-3187	384	5	,	,	PUNCT
fsr-3187	384	6	583–602	583–602	NUM
fsr-3187	384	7	.	.	PUNCT
fsr-3187	385	1	khorana	khorana	PROPN
fsr-3187	385	2	,	,	PUNCT
fsr-3187	385	3	a.	a.	PROPN
fsr-3187	385	4	,	,	PUNCT
fsr-3187	385	5	&	&	CCONJ
fsr-3187	385	6	nelling	nelling	PROPN
fsr-3187	385	7	,	,	PUNCT
fsr-3187	385	8	e.	e.	PROPN
fsr-3187	385	9	(	(	PUNCT
fsr-3187	385	10	1997	1997	NUM
fsr-3187	385	11	)	)	PUNCT
fsr-3187	385	12	.	.	PUNCT
fsr-3187	386	1	the	the	DET
fsr-3187	386	2	performance	performance	NOUN
fsr-3187	386	3	,	,	PUNCT
fsr-3187	386	4	risk	risk	NOUN
fsr-3187	386	5	and	and	CCONJ
fsr-3187	386	6	diversification	diversification	NOUN
fsr-3187	386	7	of	of	ADP
fsr-3187	386	8	sector	sector	NOUN
fsr-3187	386	9	funds	fund	NOUN
fsr-3187	386	10	.	.	PUNCT
fsr-3187	387	1	financial	financial	ADJ
fsr-3187	387	2	analysts	analyst	NOUN
fsr-3187	387	3	journal	journal	NOUN
fsr-3187	387	4	,	,	PUNCT
fsr-3187	387	5	may	may	PROPN
fsr-3187	387	6	-	-	PUNCT
fsr-3187	387	7	june	june	PROPN
fsr-3187	387	8	,	,	PUNCT
fsr-3187	387	9	62–74	62–74	NUM
fsr-3187	387	10	.	.	PROPN
fsr-3187	388	1	90	90	NUM
fsr-3187	388	2	a.	a.	NOUN
fsr-3187	388	3	kaushik	kaushik	PROPN
fsr-3187	388	4	et	et	PROPN
fsr-3187	388	5	al	al	PROPN
fsr-3187	388	6	.	.	PUNCT
fsr-3187	388	7	/	/	SYM
fsr-3187	388	8	financial	financial	ADJ
fsr-3187	388	9	services	service	NOUN
fsr-3187	388	10	review	review	VERB
fsr-3187	388	11	23	23	NUM
fsr-3187	388	12	(	(	PUNCT
fsr-3187	388	13	2014	2014	NUM
fsr-3187	388	14	)	)	PUNCT
fsr-3187	388	15	77–91	77–91	NUM
fsr-3187	389	1	lafever	lafever	ADV
fsr-3187	389	2	,	,	PUNCT
fsr-3187	389	3	r.	r.	PROPN
fsr-3187	389	4	,	,	PUNCT
fsr-3187	389	5	&	&	CCONJ
fsr-3187	389	6	canizo	canizo	PROPN
fsr-3187	389	7	,	,	PUNCT
fsr-3187	389	8	l.	l.	PROPN
fsr-3187	389	9	(	(	PUNCT
fsr-3187	389	10	2005	2005	NUM
fsr-3187	389	11	)	)	PUNCT
fsr-3187	389	12	.	.	PUNCT
fsr-3187	390	1	revisiting	revisit	VERB
fsr-3187	390	2	performance	performance	NOUN
fsr-3187	390	3	persistence	persistence	NOUN
fsr-3187	390	4	in	in	ADP
fsr-3187	390	5	real	real	ADJ
fsr-3187	390	6	estate	estate	NOUN
fsr-3187	390	7	funds	fund	NOUN
fsr-3187	390	8	(	(	PUNCT
fsr-3187	390	9	pp	pp	ADJ
fsr-3187	390	10	.	.	PUNCT
fsr-3187	390	11	1–47	1–47	NOUN
fsr-3187	390	12	)	)	PUNCT
fsr-3187	390	13	.	.	PUNCT
fsr-3187	391	1	master	master	NOUN
fsr-3187	391	2	’s	’s	PART
fsr-3187	391	3	degree	degree	NOUN
fsr-3187	391	4	thesis	thesis	NOUN
fsr-3187	391	5	,	,	PUNCT
fsr-3187	391	6	massachusetts	massachusetts	PROPN
fsr-3187	391	7	institute	institute	PROPN
fsr-3187	391	8	of	of	ADP
fsr-3187	391	9	technology	technology	PROPN
fsr-3187	391	10	.	.	PUNCT
fsr-3187	392	1	larry	larry	PROPN
fsr-3187	392	2	,	,	PUNCT
fsr-3187	392	3	f.	f.	PROPN
fsr-3187	392	4	d.	d.	PROPN
fsr-3187	392	5	,	,	PUNCT
fsr-3187	392	6	&	&	CCONJ
fsr-3187	392	7	weigand	weigand	PROPN
fsr-3187	392	8	,	,	PUNCT
fsr-3187	392	9	r.	r.	PROPN
fsr-3187	392	10	a.	a.	PROPN
fsr-3187	392	11	(	(	PUNCT
fsr-3187	392	12	1998	1998	NUM
fsr-3187	392	13	)	)	PUNCT
fsr-3187	392	14	.	.	PUNCT
fsr-3187	393	1	explaining	explain	VERB
fsr-3187	393	2	persistence	persistence	NOUN
fsr-3187	393	3	in	in	ADP
fsr-3187	393	4	mutual	mutual	ADJ
fsr-3187	393	5	fund	fund	NOUN
fsr-3187	393	6	performance	performance	NOUN
fsr-3187	393	7	.	.	PUNCT
fsr-3187	394	1	financial	financial	ADJ
fsr-3187	394	2	services	service	NOUN
fsr-3187	394	3	review	review	PROPN
fsr-3187	394	4	,	,	PUNCT
fsr-3187	394	5	7	7	NUM
fsr-3187	394	6	,	,	PUNCT
fsr-3187	394	7	45–55	45–55	NUM
fsr-3187	394	8	.	.	PUNCT
fsr-3187	395	1	lin	lin	PROPN
fsr-3187	395	2	,	,	PUNCT
fsr-3187	395	3	c.	c.	PROPN
fsr-3187	395	4	y.	y.	PROPN
fsr-3187	395	5	,	,	PUNCT
fsr-3187	395	6	&	&	CCONJ
fsr-3187	395	7	yung	yung	PROPN
fsr-3187	395	8	,	,	PUNCT
fsr-3187	395	9	k.	k.	PROPN
fsr-3187	395	10	(	(	PUNCT
fsr-3187	395	11	2004	2004	NUM
fsr-3187	395	12	)	)	PUNCT
fsr-3187	395	13	.	.	PUNCT
fsr-3187	396	1	real	real	ADJ
fsr-3187	396	2	estate	estate	NOUN
fsr-3187	396	3	mutual	mutual	ADJ
fsr-3187	396	4	funds	fund	NOUN
fsr-3187	396	5	:	:	PUNCT
fsr-3187	396	6	performance	performance	NOUN
fsr-3187	396	7	and	and	CCONJ
fsr-3187	396	8	persistence	persistence	NOUN
fsr-3187	396	9	.	.	PUNCT
fsr-3187	397	1	journal	journal	NOUN
fsr-3187	397	2	of	of	ADP
fsr-3187	397	3	real	real	ADJ
fsr-3187	397	4	estate	estate	NOUN
fsr-3187	397	5	research	research	NOUN
fsr-3187	397	6	,	,	PUNCT
fsr-3187	397	7	26	26	NUM
fsr-3187	397	8	,	,	PUNCT
fsr-3187	397	9	69–93	69–93	NUM
fsr-3187	397	10	.	.	PUNCT
fsr-3187	398	1	manakyan	manakyan	PROPN
fsr-3187	398	2	,	,	PUNCT
fsr-3187	398	3	h.	h.	PROPN
fsr-3187	398	4	,	,	PUNCT
fsr-3187	398	5	&	&	CCONJ
fsr-3187	398	6	liano	liano	PROPN
fsr-3187	398	7	,	,	PUNCT
fsr-3187	398	8	k.	k.	PROPN
fsr-3187	398	9	(	(	PUNCT
fsr-3187	398	10	1997	1997	NUM
fsr-3187	398	11	)	)	PUNCT
fsr-3187	398	12	.	.	PUNCT
fsr-3187	399	1	performance	performance	NOUN
fsr-3187	399	2	of	of	ADP
fsr-3187	399	3	mutual	mutual	ADJ
fsr-3187	399	4	funds	fund	NOUN
fsr-3187	399	5	before	before	ADP
fsr-3187	399	6	and	and	CCONJ
fsr-3187	399	7	after	after	ADP
fsr-3187	399	8	closing	close	VERB
fsr-3187	399	9	to	to	ADP
fsr-3187	399	10	new	new	ADJ
fsr-3187	399	11	investors	investor	NOUN
fsr-3187	399	12	.	.	PUNCT
fsr-3187	400	1	financial	financial	ADJ
fsr-3187	400	2	services	service	NOUN
fsr-3187	400	3	review	review	PROPN
fsr-3187	400	4	,	,	PUNCT
fsr-3187	400	5	6	6	NUM
fsr-3187	400	6	,	,	PUNCT
fsr-3187	400	7	257–269	257–269	NUM
fsr-3187	400	8	.	.	PUNCT
fsr-3187	401	1	nan	nan	PROPN
fsr-3187	401	2	,	,	PUNCT
fsr-3187	401	3	l.	l.	PROPN
fsr-3187	401	4	,	,	PUNCT
fsr-3187	401	5	&	&	CCONJ
fsr-3187	401	6	yan	yan	PROPN
fsr-3187	401	7	,	,	PUNCT
fsr-3187	401	8	c.	c.	PROPN
fsr-3187	401	9	l.	l.	PROPN
fsr-3187	401	10	(	(	PUNCT
fsr-3187	401	11	2011	2011	NUM
fsr-3187	401	12	)	)	PUNCT
fsr-3187	401	13	.	.	PUNCT
fsr-3187	402	1	understanding	understand	VERB
fsr-3187	402	2	emerging	emerge	VERB
fsr-3187	402	3	market	market	NOUN
fsr-3187	402	4	equity	equity	NOUN
fsr-3187	402	5	mutual	mutual	ADJ
fsr-3187	402	6	funds	fund	NOUN
fsr-3187	402	7	:	:	PUNCT
fsr-3187	402	8	the	the	DET
fsr-3187	402	9	case	case	NOUN
fsr-3187	402	10	of	of	ADP
fsr-3187	402	11	china	china	PROPN
fsr-3187	402	12	.	.	PUNCT
fsr-3187	403	1	financial	financial	ADJ
fsr-3187	403	2	services	services	PROPN
fsr-3187	403	3	review	review	PROPN
fsr-3187	403	4	,	,	PUNCT
fsr-3187	403	5	20	20	NUM
fsr-3187	403	6	,	,	PUNCT
fsr-3187	403	7	1–19	1–19	PROPN
fsr-3187	403	8	.	.	PUNCT
fsr-3187	404	1	philpot	philpot	PROPN
fsr-3187	404	2	,	,	PUNCT
fsr-3187	404	3	j.	j.	PROPN
fsr-3187	404	4	(	(	PUNCT
fsr-3187	404	5	2000	2000	NUM
fsr-3187	404	6	)	)	PUNCT
fsr-3187	404	7	.	.	PUNCT
fsr-3187	405	1	performance	performance	NOUN
fsr-3187	405	2	persistence	persistence	NOUN
fsr-3187	405	3	and	and	CCONJ
fsr-3187	405	4	management	management	NOUN
fsr-3187	405	5	skill	skill	NOUN
fsr-3187	405	6	in	in	ADP
fsr-3187	405	7	nonconventional	nonconventional	ADJ
fsr-3187	405	8	bond	bond	NOUN
fsr-3187	405	9	mutual	mutual	ADJ
fsr-3187	405	10	funds	fund	NOUN
fsr-3187	405	11	.	.	PUNCT
fsr-3187	406	1	financial	financial	ADJ
fsr-3187	406	2	services	service	NOUN
fsr-3187	406	3	review	review	NOUN
fsr-3187	406	4	,	,	PUNCT
fsr-3187	406	5	9	9	NUM
fsr-3187	406	6	,	,	PUNCT
fsr-3187	406	7	247–258	247–258	NUM
fsr-3187	406	8	.	.	PUNCT
fsr-3187	406	9	sapp	sapp	PROPN
fsr-3187	406	10	,	,	PUNCT
fsr-3187	406	11	t.	t.	PROPN
fsr-3187	406	12	,	,	PUNCT
fsr-3187	406	13	&	&	CCONJ
fsr-3187	406	14	tiwari	tiwari	PROPN
fsr-3187	406	15	,	,	PUNCT
fsr-3187	406	16	a.	a.	PROPN
fsr-3187	406	17	(	(	PUNCT
fsr-3187	406	18	2004	2004	NUM
fsr-3187	406	19	)	)	PUNCT
fsr-3187	406	20	.	.	PUNCT
fsr-3187	407	1	does	do	AUX
fsr-3187	407	2	stock	stock	NOUN
fsr-3187	407	3	return	return	NOUN
fsr-3187	407	4	momentum	momentum	NOUN
fsr-3187	407	5	explain	explain	VERB
fsr-3187	407	6	the	the	DET
fsr-3187	407	7	“	"	PUNCT
fsr-3187	407	8	smart	smart	ADJ
fsr-3187	407	9	money	money	NOUN
fsr-3187	407	10	”	"	PUNCT
fsr-3187	407	11	effect	effect	NOUN
fsr-3187	407	12	?	?	PUNCT
fsr-3187	408	1	journal	journal	NOUN
fsr-3187	408	2	of	of	ADP
fsr-3187	408	3	finance	finance	NOUN
fsr-3187	408	4	,	,	PUNCT
fsr-3187	408	5	59	59	NUM
fsr-3187	408	6	,	,	PUNCT
fsr-3187	408	7	2605–2622	2605–2622	NUM
fsr-3187	408	8	.	.	PUNCT
fsr-3187	409	1	sharpe	sharpe	PROPN
fsr-3187	409	2	,	,	PUNCT
fsr-3187	409	3	w.	w.	PROPN
fsr-3187	409	4	f.	f.	PROPN
fsr-3187	409	5	(	(	PUNCT
fsr-3187	409	6	1964	1964	NUM
fsr-3187	409	7	)	)	PUNCT
fsr-3187	409	8	.	.	PUNCT
fsr-3187	410	1	capital	capital	NOUN
fsr-3187	410	2	asset	asset	NOUN
fsr-3187	410	3	prices	price	NOUN
fsr-3187	410	4	:	:	PUNCT
fsr-3187	410	5	a	a	DET
fsr-3187	410	6	theory	theory	NOUN
fsr-3187	410	7	of	of	ADP
fsr-3187	410	8	market	market	NOUN
fsr-3187	410	9	equilibrium	equilibrium	NOUN
fsr-3187	410	10	under	under	ADP
fsr-3187	410	11	conditions	condition	NOUN
fsr-3187	410	12	of	of	ADP
fsr-3187	410	13	risk	risk	NOUN
fsr-3187	410	14	.	.	PUNCT
fsr-3187	410	15	”	"	PUNCT
fsr-3187	411	1	journal	journal	NOUN
fsr-3187	411	2	of	of	ADP
fsr-3187	411	3	finance	finance	NOUN
fsr-3187	411	4	,	,	PUNCT
fsr-3187	411	5	19	19	NUM
fsr-3187	411	6	,	,	PUNCT
fsr-3187	411	7	425–442	425–442	NUM
fsr-3187	411	8	.	.	PUNCT
fsr-3187	411	9	tiwari	tiwari	PROPN
fsr-3187	411	10	,	,	PUNCT
fsr-3187	411	11	a.	a.	PROPN
fsr-3187	411	12	,	,	PUNCT
fsr-3187	411	13	&	&	CCONJ
fsr-3187	411	14	vijh	vijh	NOUN
fsr-3187	411	15	,	,	PUNCT
fsr-3187	411	16	a.	a.	NOUN
fsr-3187	411	17	m.	m.	NOUN
fsr-3187	411	18	(	(	PUNCT
fsr-3187	411	19	2004	2004	NUM
fsr-3187	411	20	)	)	PUNCT
fsr-3187	411	21	.	.	PUNCT
fsr-3187	412	1	sector	sector	NOUN
fsr-3187	412	2	fund	fund	NOUN
fsr-3187	412	3	performance	performance	NOUN
fsr-3187	412	4	:	:	PUNCT
fsr-3187	412	5	analysis	analysis	NOUN
fsr-3187	412	6	of	of	ADP
fsr-3187	412	7	cash	cash	NOUN
fsr-3187	412	8	flow	flow	NOUN
fsr-3187	412	9	volatility	volatility	NOUN
fsr-3187	412	10	and	and	CCONJ
fsr-3187	412	11	returns	return	NOUN
fsr-3187	412	12	.	.	PUNCT
fsr-3187	413	1	working	work	VERB
fsr-3187	413	2	paper	paper	NOUN
fsr-3187	413	3	.	.	PUNCT
fsr-3187	414	1	wermers	wermer	NOUN
fsr-3187	414	2	,	,	PUNCT
fsr-3187	414	3	r.	r.	PROPN
fsr-3187	414	4	(	(	PUNCT
fsr-3187	414	5	1997	1997	NUM
fsr-3187	414	6	)	)	PUNCT
fsr-3187	414	7	.	.	PUNCT
fsr-3187	415	1	momentum	momentum	NOUN
fsr-3187	415	2	investment	investment	NOUN
fsr-3187	415	3	strategies	strategy	NOUN
fsr-3187	415	4	of	of	ADP
fsr-3187	415	5	mutual	mutual	ADJ
fsr-3187	415	6	funds	fund	NOUN
fsr-3187	415	7	,	,	PUNCT
fsr-3187	415	8	performance	performance	NOUN
fsr-3187	415	9	persistence	persistence	NOUN
fsr-3187	415	10	,	,	PUNCT
fsr-3187	415	11	and	and	CCONJ
fsr-3187	415	12	survivorship	survivorship	NOUN
fsr-3187	415	13	bias	bias	NOUN
fsr-3187	415	14	.	.	PUNCT
fsr-3187	416	1	working	work	VERB
fsr-3187	416	2	paper	paper	NOUN
fsr-3187	416	3	,	,	PUNCT
fsr-3187	416	4	university	university	NOUN
fsr-3187	416	5	of	of	ADP
fsr-3187	416	6	colorado	colorado	PROPN
fsr-3187	416	7	.	.	PUNCT
fsr-3187	417	1	wermers	wermer	NOUN
fsr-3187	417	2	,	,	PUNCT
fsr-3187	417	3	r.	r.	PROPN
fsr-3187	417	4	(	(	PUNCT
fsr-3187	417	5	2000	2000	NUM
fsr-3187	417	6	)	)	PUNCT
fsr-3187	417	7	.	.	PUNCT
fsr-3187	418	1	mutual	mutual	ADJ
fsr-3187	418	2	fund	fund	NOUN
fsr-3187	418	3	performance	performance	NOUN
fsr-3187	418	4	:	:	PUNCT
fsr-3187	418	5	an	an	DET
fsr-3187	418	6	empirical	empirical	ADJ
fsr-3187	418	7	decomposition	decomposition	NOUN
fsr-3187	418	8	into	into	ADP
fsr-3187	418	9	stock	stock	NOUN
fsr-3187	418	10	-	-	PUNCT
fsr-3187	418	11	picking	pick	VERB
fsr-3187	418	12	talent	talent	NOUN
fsr-3187	418	13	,	,	PUNCT
fsr-3187	418	14	style	style	NOUN
fsr-3187	418	15	,	,	PUNCT
fsr-3187	418	16	transactions	transaction	NOUN
fsr-3187	418	17	costs	cost	NOUN
fsr-3187	418	18	,	,	PUNCT
fsr-3187	418	19	and	and	CCONJ
fsr-3187	418	20	expenses	expense	NOUN
fsr-3187	418	21	.	.	PUNCT
fsr-3187	419	1	journal	journal	PROPN
fsr-3187	419	2	of	of	ADP
fsr-3187	419	3	finance	finance	NOUN
fsr-3187	419	4	,	,	PUNCT
fsr-3187	419	5	55	55	NUM
fsr-3187	419	6	,	,	PUNCT
fsr-3187	419	7	1655–1695	1655–1695	NUM
fsr-3187	419	8	.	.	PUNCT
fsr-3187	420	1	wermers	wermer	NOUN
fsr-3187	420	2	,	,	PUNCT
fsr-3187	420	3	r.	r.	PROPN
fsr-3187	420	4	(	(	PUNCT
fsr-3187	420	5	2003	2003	NUM
fsr-3187	420	6	)	)	PUNCT
fsr-3187	420	7	.	.	PUNCT
fsr-3187	421	1	is	be	AUX
fsr-3187	421	2	money	money	NOUN
fsr-3187	421	3	really	really	ADV
fsr-3187	421	4	“	"	PUNCT
fsr-3187	421	5	smart	smart	ADJ
fsr-3187	421	6	”	"	PUNCT
fsr-3187	421	7	?	?	PUNCT
fsr-3187	422	1	new	new	ADJ
fsr-3187	422	2	evidence	evidence	NOUN
fsr-3187	422	3	on	on	ADP
fsr-3187	422	4	the	the	DET
fsr-3187	422	5	relation	relation	NOUN
fsr-3187	422	6	between	between	ADP
fsr-3187	422	7	mutual	mutual	ADJ
fsr-3187	422	8	fund	fund	NOUN
fsr-3187	422	9	flows	flow	NOUN
fsr-3187	422	10	,	,	PUNCT
fsr-3187	422	11	manager	manager	NOUN
fsr-3187	422	12	behavior	behavior	NOUN
fsr-3187	422	13	,	,	PUNCT
fsr-3187	422	14	and	and	CCONJ
fsr-3187	422	15	performance	performance	NOUN
fsr-3187	422	16	persistence	persistence	NOUN
fsr-3187	422	17	.	.	PUNCT
fsr-3187	423	1	working	work	VERB
fsr-3187	423	2	paper	paper	NOUN
fsr-3187	423	3	,	,	PUNCT
fsr-3187	423	4	university	university	NOUN
fsr-3187	423	5	of	of	ADP
fsr-3187	423	6	maryland	maryland	PROPN
fsr-3187	423	7	.	.	PUNCT
fsr-3187	424	1	91a	91a	NOUN
fsr-3187	424	2	.	.	PUNCT
fsr-3187	425	1	kaushik	kaushik	PROPN
fsr-3187	425	2	et	et	PROPN
fsr-3187	425	3	al	al	PROPN
fsr-3187	425	4	.	.	PUNCT
fsr-3187	425	5	/	/	SYM
fsr-3187	425	6	financial	financial	ADJ
fsr-3187	425	7	services	service	NOUN
fsr-3187	425	8	review	review	VERB
fsr-3187	425	9	23	23	NUM
fsr-3187	425	10	(	(	PUNCT
fsr-3187	425	11	2014	2014	NUM
fsr-3187	425	12	)	)	PUNCT
fsr-3187	425	13	77–91	77–91	NUM