id	sid	tid	token	lemma	pos
fsr-3734	1	1	pii	pii	PROPN
fsr-3734	1	2	:	:	PUNCT
fsr-3734	1	3	1057	1057	NUM
fsr-3734	1	4	-	-	PUNCT
fsr-3734	1	5	0810(95)90013	0810(95)90013	NUM
fsr-3734	1	6	-	-	PUNCT
fsr-3734	1	7	6	6	NUM
fsr-3734	1	8	financial	financial	ADJ
fsr-3734	1	9	services	service	NOUN
fsr-3734	1	10	review	review	NOUN
fsr-3734	1	11	,	,	PUNCT
fsr-3734	1	12	4	4	NUM
fsr-3734	1	13	(	(	PUNCT
fsr-3734	1	14	1	1	NUM
fsr-3734	1	15	):	):	PUNCT
fsr-3734	1	16	1	1	NUM
fsr-3734	1	17	-	-	SYM
fsr-3734	1	18	8	8	NUM
fsr-3734	1	19	copyright	copyright	NOUN
fsr-3734	1	20	0	0	NUM
fsr-3734	1	21	1995	1995	NUM
fsr-3734	1	22	by	by	ADP
fsr-3734	1	23	jai	jai	PROPN
fsr-3734	1	24	press	press	PROPN
fsr-3734	1	25	inc	inc	PROPN
fsr-3734	1	26	.	.	PROPN
fsr-3734	1	27	issn	issn	PROPN
fsr-3734	1	28	:	:	PUNCT
fsr-3734	1	29	1057	1057	NUM
fsr-3734	1	30	-	-	SYM
fsr-3734	1	31	0810	0810	NUM
fsr-3734	1	32	all	all	DET
fsr-3734	1	33	rights	right	NOUN
fsr-3734	1	34	of	of	ADP
fsr-3734	1	35	reproduction	reproduction	NOUN
fsr-3734	1	36	in	in	ADP
fsr-3734	1	37	any	any	DET
fsr-3734	1	38	fm	fm	NOUN
fsr-3734	1	39	reserved	reserve	VERB
fsr-3734	1	40	.	.	PUNCT
fsr-3734	2	1	bank	bank	NOUN
fsr-3734	2	2	dividend	dividend	NOUN
fsr-3734	2	3	policy	policy	NOUN
fsr-3734	2	4	as	as	ADP
fsr-3734	2	5	a	a	DET
fsr-3734	2	6	signal	signal	NOUN
fsr-3734	2	7	of	of	ADP
fsr-3734	2	8	bank	bank	NOUN
fsr-3734	2	9	quality	quality	PROPN
fsr-3734	2	10	robert	robert	PROPN
fsr-3734	2	11	boldin	boldin	PROPN
fsr-3734	2	12	keith	keith	PROPN
fsr-3734	2	13	leggett	leggett	PROPN
fsr-3734	2	14	this	this	DET
fsr-3734	2	15	article	article	NOUN
fsr-3734	2	16	examines	examine	VERB
fsr-3734	2	17	whether	whether	SCONJ
fsr-3734	2	18	the	the	DET
fsr-3734	2	19	dividendpolicy	dividendpolicy	NOUN
fsr-3734	2	20	of	of	ADP
fsr-3734	2	21	bank	bank	NOUN
fsr-3734	2	22	holding	hold	VERB
fsr-3734	2	23	companies	company	NOUN
fsr-3734	2	24	is	be	AUX
fsr-3734	2	25	used	use	VERB
fsr-3734	2	26	as	as	ADP
fsr-3734	2	27	a	a	DET
fsr-3734	2	28	signal	signal	NOUN
fsr-3734	2	29	of	of	ADP
fsr-3734	2	30	their	their	PRON
fsr-3734	2	31	quality	quality	NOUN
fsr-3734	2	32	.	.	PUNCT
fsr-3734	3	1	the	the	DET
fsr-3734	3	2	study	study	NOUN
fsr-3734	3	3	found	find	VERB
fsr-3734	3	4	evidence	evidence	NOUN
fsr-3734	3	5	to	to	PART
fsr-3734	3	6	support	support	VERB
fsr-3734	3	7	the	the	DET
fsr-3734	3	8	dividend	dividend	NOUN
fsr-3734	3	9	signaling	signal	VERB
fsr-3734	3	10	argument	argument	NOUN
fsr-3734	3	11	-	-	PUNCT
fsr-3734	3	12	that	that	ADV
fsr-3734	3	13	is	be	AUX
fsr-3734	3	14	,	,	PUNCT
fsr-3734	3	15	that	that	SCONJ
fsr-3734	3	16	there	there	PRON
fsr-3734	3	17	is	be	VERB
fsr-3734	3	18	a	a	DET
fsr-3734	3	19	positive	positive	ADJ
fsr-3734	3	20	relationship	relationship	NOUN
fsr-3734	3	21	between	between	ADP
fsr-3734	3	22	bank	bank	NOUN
fsr-3734	3	23	dividendsper	dividendsper	ADJ
fsr-3734	3	24	share	share	NOUN
fsr-3734	3	25	and	and	CCONJ
fsr-3734	3	26	bank	bank	NOUN
fsr-3734	3	27	quality	quality	NOUN
fsr-3734	3	28	rating	rating	NOUN
fsr-3734	3	29	.	.	PUNCT
fsr-3734	4	1	aaiiitionally	aaiiitionally	ADV
fsr-3734	4	2	,	,	PUNCT
fsr-3734	4	3	an	an	DET
fsr-3734	4	4	inverse	inverse	NOUN
fsr-3734	4	5	relationship	relationship	NOUN
fsr-3734	4	6	between	between	ADP
fsr-3734	4	7	the	the	DET
fsr-3734	4	8	dividend	dividend	NOUN
fsr-3734	4	9	payout	payout	NOUN
fsr-3734	4	10	ratio	ratio	NOUN
fsr-3734	4	11	and	and	CCONJ
fsr-3734	4	12	bank	bank	NOUN
fsr-3734	4	13	quality	quality	NOUN
fsr-3734	4	14	was	be	AUX
fsr-3734	4	15	found	find	VERB
fsr-3734	4	16	.	.	PUNCT
fsr-3734	5	1	therefore	therefore	ADV
fsr-3734	5	2	,	,	PUNCT
fsr-3734	5	3	both	both	DET
fsr-3734	5	4	aspects	aspect	NOUN
fsr-3734	5	5	of	of	ADP
fsr-3734	5	6	a	a	DET
fsr-3734	5	7	bank	bank	NOUN
fsr-3734	5	8	holding	hold	VERB
fsr-3734	5	9	company	company	NOUN
fsr-3734	5	10	’s	’s	PART
fsr-3734	5	11	dividendpolicy	dividendpolicy	NOUN
fsr-3734	5	12	yields	yield	NOUN
fsr-3734	5	13	information	information	NOUN
fsr-3734	5	14	about	about	ADP
fsr-3734	5	15	the	the	DET
fsr-3734	5	16	quality	quality	NOUN
fsr-3734	5	17	of	of	ADP
fsr-3734	5	18	a	a	DET
fsr-3734	5	19	fmancial	fmancial	ADJ
fsr-3734	5	20	institution	institution	NOUN
fsr-3734	5	21	.	.	PUNCT
fsr-3734	6	1	i.	i.	PROPN
fsr-3734	6	2	introduction	introduction	NOUN
fsr-3734	6	3	during	during	ADP
fsr-3734	6	4	the	the	DET
fsr-3734	6	5	decade	decade	NOUN
fsr-3734	6	6	of	of	ADP
fsr-3734	6	7	the	the	DET
fsr-3734	6	8	198os	198os	NOUN
fsr-3734	6	9	,	,	PUNCT
fsr-3734	6	10	the	the	DET
fsr-3734	6	11	u.s	u.s	PROPN
fsr-3734	6	12	.	.	PROPN
fsr-3734	6	13	banking	banking	NOUN
fsr-3734	6	14	industry	industry	NOUN
fsr-3734	6	15	experienced	experience	VERB
fsr-3734	6	16	a	a	DET
fsr-3734	6	17	slow	slow	ADJ
fsr-3734	6	18	erosion	erosion	NOUN
fsr-3734	6	19	in	in	ADP
fsr-3734	6	20	its	its	PRON
fsr-3734	6	21	financial	financial	ADJ
fsr-3734	6	22	health	health	NOUN
fsr-3734	6	23	.	.	PUNCT
fsr-3734	7	1	while	while	SCONJ
fsr-3734	7	2	recent	recent	ADJ
fsr-3734	7	3	evidence	evidence	NOUN
fsr-3734	7	4	indicates	indicate	VERB
fsr-3734	7	5	a	a	DET
fsr-3734	7	6	reversal	reversal	NOUN
fsr-3734	7	7	in	in	ADP
fsr-3734	7	8	the	the	DET
fsr-3734	7	9	fortunes	fortune	NOUN
fsr-3734	7	10	of	of	ADP
fsr-3734	7	11	the	the	DET
fsr-3734	7	12	banking	banking	NOUN
fsr-3734	7	13	industry	industry	NOUN
fsr-3734	7	14	,	,	PUNCT
fsr-3734	7	15	long	long	ADJ
fsr-3734	7	16	-	-	PUNCT
fsr-3734	7	17	term	term	NOUN
fsr-3734	7	18	secular	secular	ADJ
fsr-3734	7	19	forces	force	NOUN
fsr-3734	7	20	suggest	suggest	VERB
fsr-3734	7	21	a	a	DET
fsr-3734	7	22	continued	continue	VERB
fsr-3734	7	23	erosion	erosion	NOUN
fsr-3734	7	24	in	in	ADP
fsr-3734	7	25	earnings	earning	NOUN
fsr-3734	7	26	in	in	ADP
fsr-3734	7	27	the	the	DET
fsr-3734	7	28	banking	banking	NOUN
fsr-3734	7	29	industry	industry	NOUN
fsr-3734	7	30	and	and	CCONJ
fsr-3734	7	31	a	a	DET
fsr-3734	7	32	greater	great	ADJ
fsr-3734	7	33	potential	potential	NOUN
fsr-3734	7	34	for	for	ADP
fsr-3734	7	35	increased	increase	VERB
fsr-3734	7	36	risk	risk	NOUN
fsr-3734	7	37	taking	taking	NOUN
fsr-3734	7	38	(	(	PUNCT
fsr-3734	7	39	barth	barth	NOUN
fsr-3734	7	40	,	,	PUNCT
fsr-3734	7	41	brumbaugh	brumbaugh	NOUN
fsr-3734	7	42	,	,	PUNCT
fsr-3734	7	43	&	&	CCONJ
fsr-3734	7	44	litan	litan	ADJ
fsr-3734	7	45	,	,	PUNCT
fsr-3734	7	46	1992	1992	NUM
fsr-3734	7	47	)	)	PUNCT
fsr-3734	7	48	.	.	PUNCT
fsr-3734	8	1	with	with	ADP
fsr-3734	8	2	the	the	DET
fsr-3734	8	3	secular	secular	ADJ
fsr-3734	8	4	deterioration	deterioration	NOUN
fsr-3734	8	5	in	in	ADP
fsr-3734	8	6	the	the	DET
fsr-3734	8	7	bank	bank	NOUN
fsr-3734	8	8	industry	industry	NOUN
fsr-3734	8	9	’s	’s	PART
fsr-3734	8	10	financial	financial	ADJ
fsr-3734	8	11	health	health	NOUN
fsr-3734	8	12	,	,	PUNCT
fsr-3734	8	13	there	there	PRON
fsr-3734	8	14	was	be	VERB
fsr-3734	8	15	renewed	renew	VERB
fsr-3734	8	16	emphasis	emphasis	NOUN
fsr-3734	8	17	on	on	ADP
fsr-3734	8	18	the	the	DET
fsr-3734	8	19	recapitalization	recapitalization	NOUN
fsr-3734	8	20	of	of	ADP
fsr-3734	8	21	the	the	DET
fsr-3734	8	22	banking	banking	NOUN
fsr-3734	8	23	industry	industry	NOUN
fsr-3734	8	24	.	.	PUNCT
fsr-3734	9	1	the	the	DET
fsr-3734	9	2	process	process	NOUN
fsr-3734	9	3	has	have	AUX
fsr-3734	9	4	continued	continue	VERB
fsr-3734	9	5	into	into	ADP
fsr-3734	9	6	the	the	DET
fsr-3734	9	7	199os	199os	NOUN
fsr-3734	9	8	,	,	PUNCT
fsr-3734	9	9	with	with	ADP
fsr-3734	9	10	the	the	DET
fsr-3734	9	11	industry	industry	NOUN
fsr-3734	9	12	’s	’s	PART
fsr-3734	9	13	capitalization	capitalization	NOUN
fsr-3734	9	14	ratio	ratio	NOUN
fsr-3734	9	15	reaching	reach	VERB
fsr-3734	9	16	its	its	PRON
fsr-3734	9	17	highest	high	ADJ
fsr-3734	9	18	level	level	NOUN
fsr-3734	9	19	in	in	ADP
fsr-3734	9	20	30	30	NUM
fsr-3734	9	21	years	year	NOUN
fsr-3734	9	22	.	.	PUNCT
fsr-3734	10	1	the	the	DET
fsr-3734	10	2	primary	primary	ADJ
fsr-3734	10	3	venue	venue	NOUN
fsr-3734	10	4	available	available	ADJ
fsr-3734	10	5	for	for	SCONJ
fsr-3734	10	6	banks	bank	NOUN
fsr-3734	10	7	to	to	PART
fsr-3734	10	8	raise	raise	VERB
fsr-3734	10	9	capital	capital	NOUN
fsr-3734	10	10	is	be	AUX
fsr-3734	10	11	through	through	ADP
fsr-3734	10	12	retained	retain	VERB
fsr-3734	10	13	earnings	earning	NOUN
fsr-3734	10	14	.	.	PUNCT
fsr-3734	11	1	the	the	DET
fsr-3734	11	2	federal	federal	ADJ
fsr-3734	11	3	deposit	deposit	NOUN
fsr-3734	11	4	insurance	insurance	NOUN
fsr-3734	11	5	corporation	corporation	NOUN
fsr-3734	11	6	(	(	PUNCT
fsr-3734	11	7	fdic	fdic	PROPN
fsr-3734	11	8	)	)	PUNCT
fsr-3734	11	9	reported	report	VERB
fsr-3734	11	10	that	that	SCONJ
fsr-3734	11	11	in	in	ADP
fsr-3734	11	12	1993	1993	NUM
fsr-3734	11	13	,	,	PUNCT
fsr-3734	11	14	the	the	DET
fsr-3734	11	15	banking	banking	NOUN
fsr-3734	11	16	industry	industry	NOUN
fsr-3734	11	17	paid	pay	VERB
fsr-3734	11	18	out	out	ADP
fsr-3734	11	19	50.7	50.7	NUM
fsr-3734	11	20	%	%	NOUN
fsr-3734	11	21	of	of	ADP
fsr-3734	11	22	its	its	PRON
fsr-3734	11	23	earnings	earning	NOUN
fsr-3734	11	24	in	in	ADP
fsr-3734	11	25	cash	cash	NOUN
fsr-3734	11	26	dividends	dividend	NOUN
fsr-3734	11	27	.	.	PUNCT
fsr-3734	12	1	this	this	PRON
fsr-3734	12	2	is	be	AUX
fsr-3734	12	3	lower	low	ADJ
fsr-3734	12	4	than	than	ADP
fsr-3734	12	5	the	the	DET
fsr-3734	12	6	banking	banking	NOUN
fsr-3734	12	7	industry	industry	NOUN
fsr-3734	12	8	’s	’s	PART
fsr-3734	12	9	80	80	NUM
fsr-3734	12	10	%	%	NOUN
fsr-3734	12	11	payout	payout	NOUN
fsr-3734	12	12	rate	rate	NOUN
fsr-3734	12	13	in	in	ADP
fsr-3734	12	14	the	the	DET
fsr-3734	12	15	first	first	ADJ
fsr-3734	12	16	quarter	quarter	NOUN
fsr-3734	12	17	1991	1991	NUM
fsr-3734	12	18	but	but	CCONJ
fsr-3734	12	19	much	much	ADV
fsr-3734	12	20	higher	high	ADJ
fsr-3734	12	21	than	than	ADP
fsr-3734	12	22	27.5	27.5	NUM
fsr-3734	12	23	%	%	NOUN
fsr-3734	12	24	payout	payout	NOUN
fsr-3734	12	25	rate	rate	NOUN
fsr-3734	12	26	in	in	ADP
fsr-3734	12	27	1985	1985	NUM
fsr-3734	12	28	.	.	PUNCT
fsr-3734	13	1	given	give	VERB
fsr-3734	13	2	this	this	DET
fsr-3734	13	3	more	more	ADV
fsr-3734	13	4	recent	recent	ADJ
fsr-3734	13	5	liberal	liberal	ADJ
fsr-3734	13	6	dividend	dividend	NOUN
fsr-3734	13	7	payout	payout	NOUN
fsr-3734	13	8	ratio	ratio	NOUN
fsr-3734	13	9	,	,	PUNCT
fsr-3734	13	10	especially	especially	ADV
fsr-3734	13	11	in	in	ADP
fsr-3734	13	12	light	light	NOUN
fsr-3734	13	13	of	of	ADP
fsr-3734	13	14	anticipated	anticipate	VERB
fsr-3734	13	15	long	long	ADJ
fsr-3734	13	16	-	-	PUNCT
fsr-3734	13	17	term	term	NOUN
fsr-3734	13	18	decline	decline	NOUN
fsr-3734	13	19	in	in	ADP
fsr-3734	13	20	earnings	earning	NOUN
fsr-3734	13	21	,	,	PUNCT
fsr-3734	13	22	the	the	DET
fsr-3734	13	23	ability	ability	NOUN
fsr-3734	13	24	of	of	ADP
fsr-3734	13	25	banks	bank	NOUN
fsr-3734	13	26	to	to	PART
fsr-3734	13	27	expand	expand	VERB
fsr-3734	13	28	their	their	PRON
fsr-3734	13	29	capital	capital	NOUN
fsr-3734	13	30	base	base	NOUN
fsr-3734	13	31	must	must	AUX
fsr-3734	13	32	be	be	AUX
fsr-3734	13	33	questioned	question	VERB
fsr-3734	13	34	.	.	PUNCT
fsr-3734	14	1	a	a	DET
fsr-3734	14	2	fundamental	fundamental	ADJ
fsr-3734	14	3	tension	tension	NOUN
fsr-3734	14	4	associated	associate	VERB
fsr-3734	14	5	with	with	ADP
fsr-3734	14	6	bank	bank	NOUN
fsr-3734	14	7	dividend	dividend	NOUN
fsr-3734	14	8	policy	policy	NOUN
fsr-3734	14	9	is	be	AUX
fsr-3734	14	10	thus	thus	ADV
fsr-3734	14	11	apparent	apparent	ADJ
fsr-3734	14	12	.	.	PUNCT
fsr-3734	15	1	as	as	SCONJ
fsr-3734	15	2	bank	bank	NOUN
fsr-3734	15	3	earnings	earning	NOUN
fsr-3734	15	4	are	be	AUX
fsr-3734	15	5	squeezed	squeeze	VERB
fsr-3734	15	6	,	,	PUNCT
fsr-3734	15	7	banks	bank	NOUN
fsr-3734	15	8	must	must	AUX
fsr-3734	15	9	choose	choose	VERB
fsr-3734	15	10	between	between	ADP
fsr-3734	15	11	maintaining	maintain	VERB
fsr-3734	15	12	stable	stable	ADJ
fsr-3734	15	13	dividend	dividend	NOUN
fsr-3734	15	14	payments	payment	NOUN
fsr-3734	15	15	per	per	ADP
fsr-3734	15	16	share	share	NOUN
fsr-3734	15	17	versus	versus	ADP
fsr-3734	15	18	a	a	DET
fsr-3734	15	19	constant	constant	ADJ
fsr-3734	15	20	dividend	dividend	NOUN
fsr-3734	15	21	payout	payout	NOUN
fsr-3734	15	22	ratio	ratio	NOUN
fsr-3734	15	23	from	from	ADP
fsr-3734	15	24	earnings	earning	NOUN
fsr-3734	15	25	.	.	PUNCT
fsr-3734	16	1	both	both	DET
fsr-3734	16	2	policy	policy	NOUN
fsr-3734	16	3	decisions	decision	NOUN
fsr-3734	16	4	can	can	AUX
fsr-3734	16	5	provide	provide	VERB
fsr-3734	16	6	information	information	NOUN
fsr-3734	16	7	about	about	ADP
fsr-3734	16	8	the	the	DET
fsr-3734	16	9	existing	exist	VERB
fsr-3734	16	10	and	and	CCONJ
fsr-3734	16	11	future	future	ADJ
fsr-3734	16	12	soundness	soundness	NOUN
fsr-3734	16	13	of	of	ADP
fsr-3734	16	14	the	the	DET
fsr-3734	16	15	bank	bank	NOUN
fsr-3734	16	16	.	.	PUNCT
fsr-3734	17	1	yet	yet	ADV
fsr-3734	17	2	,	,	PUNCT
fsr-3734	17	3	there	there	PRON
fsr-3734	17	4	is	be	VERB
fsr-3734	17	5	some	some	DET
fsr-3734	17	6	concern	concern	NOUN
fsr-3734	17	7	as	as	ADP
fsr-3734	17	8	to	to	ADP
fsr-3734	17	9	whether	whether	SCONJ
fsr-3734	17	10	the	the	DET
fsr-3734	17	11	financial	financial	ADJ
fsr-3734	17	12	markets	market	NOUN
fsr-3734	17	13	incorporate	incorporate	VERB
fsr-3734	17	14	this	this	DET
fsr-3734	17	15	information	information	NOUN
fsr-3734	17	16	.	.	PUNCT
fsr-3734	18	1	the	the	DET
fsr-3734	18	2	financial	financial	ADJ
fsr-3734	18	3	robert	robert	PROPN
fsr-3734	18	4	boldin	boldin	PROPN
fsr-3734	18	5	l	l	PROPN
fsr-3734	18	6	finance	finance	NOUN
fsr-3734	18	7	and	and	CCONJ
fsr-3734	18	8	legal	legal	ADJ
fsr-3734	18	9	studies	study	NOUN
fsr-3734	18	10	department	department	PROPN
fsr-3734	18	11	,	,	PUNCT
fsr-3734	18	12	indiana	indiana	PROPN
fsr-3734	18	13	university	university	PROPN
fsr-3734	18	14	of	of	ADP
fsr-3734	18	15	pennsylvania	pennsylvania	PROPN
fsr-3734	18	16	,	,	PUNCT
fsr-3734	18	17	indiana	indiana	PROPN
fsr-3734	18	18	,	,	PUNCT
fsr-3734	18	19	pa	pa	PROPN
fsr-3734	18	20	157051087	157051087	NUM
fsr-3734	18	21	.	.	PUNCT
fsr-3734	19	1	keith	keith	PROPN
fsr-3734	19	2	legptt	legptt	PROPN
fsr-3734	19	3	l	l	PROPN
fsr-3734	19	4	department	department	PROPN
fsr-3734	19	5	of	of	ADP
fsr-3734	19	6	economics	economic	NOUN
fsr-3734	19	7	,	,	PUNCT
fsr-3734	19	8	davis	davis	PROPN
fsr-3734	19	9	&	&	CCONJ
fsr-3734	19	10	elkins	elkins	PROPN
fsr-3734	19	11	college	college	PROPN
fsr-3734	19	12	,	,	PUNCT
fsr-3734	19	13	elkins	elkins	PROPN
fsr-3734	19	14	,	,	PUNCT
fsr-3734	19	15	wv	wv	PROPN
fsr-3734	19	16	2624	2624	NUM
fsr-3734	19	17	l-3996	l-3996	PROPN
fsr-3734	19	18	.	.	PROPN
fsr-3734	19	19	2	2	NUM
fsr-3734	19	20	financial	financial	ADJ
fsr-3734	19	21	services	service	NOUN
fsr-3734	19	22	review	review	VERB
fsr-3734	19	23	4(l	4(l	NUM
fsr-3734	19	24	)	)	PUNCT
fsr-3734	19	25	1995	1995	NUM
fsr-3734	19	26	literature	literature	NOUN
fsr-3734	19	27	is	be	AUX
fsr-3734	19	28	replete	replete	ADJ
fsr-3734	19	29	with	with	ADP
fsr-3734	19	30	studies	study	NOUN
fsr-3734	19	31	which	which	PRON
fsr-3734	19	32	have	have	AUX
fsr-3734	19	33	examined	examine	VERB
fsr-3734	19	34	the	the	DET
fsr-3734	19	35	impact	impact	NOUN
fsr-3734	19	36	of	of	ADP
fsr-3734	19	37	dividends	dividend	NOUN
fsr-3734	19	38	as	as	ADP
fsr-3734	19	39	an	an	DET
fsr-3734	19	40	investor	investor	NOUN
fsr-3734	19	41	signal	signal	NOUN
fsr-3734	19	42	(	(	PUNCT
fsr-3734	19	43	eades	eade	NOUN
fsr-3734	19	44	,	,	PUNCT
fsr-3734	19	45	1982	1982	NUM
fsr-3734	19	46	;	;	PUNCT
fsr-3734	19	47	aharony	aharony	NOUN
fsr-3734	19	48	&	&	CCONJ
fsr-3734	19	49	swary	swary	ADJ
fsr-3734	19	50	,	,	PUNCT
fsr-3734	19	51	1980	1980	NUM
fsr-3734	19	52	)	)	PUNCT
fsr-3734	19	53	.	.	PUNCT
fsr-3734	20	1	generally	generally	ADV
fsr-3734	20	2	,	,	PUNCT
fsr-3734	20	3	an	an	DET
fsr-3734	20	4	unexpected	unexpected	ADJ
fsr-3734	20	5	increase	increase	NOUN
fsr-3734	20	6	in	in	ADP
fsr-3734	20	7	dividends	dividend	NOUN
fsr-3734	20	8	is	be	AUX
fsr-3734	20	9	viewed	view	VERB
fsr-3734	20	10	as	as	ADP
fsr-3734	20	11	conveying	convey	VERB
fsr-3734	20	12	positive	positive	ADJ
fsr-3734	20	13	information	information	NOUN
fsr-3734	20	14	about	about	ADP
fsr-3734	20	15	the	the	DET
fsr-3734	20	16	financial	financial	ADJ
fsr-3734	20	17	health	health	NOUN
fsr-3734	20	18	of	of	ADP
fsr-3734	20	19	the	the	DET
fsr-3734	20	20	firm	firm	NOUN
fsr-3734	20	21	while	while	SCONJ
fsr-3734	20	22	negative	negative	ADJ
fsr-3734	20	23	information	information	NOUN
fsr-3734	20	24	about	about	ADP
fsr-3734	20	25	asset	asset	NOUN
fsr-3734	20	26	quality	quality	NOUN
fsr-3734	20	27	is	be	AUX
fsr-3734	20	28	imparted	impart	VERB
fsr-3734	20	29	by	by	ADP
fsr-3734	20	30	an	an	DET
fsr-3734	20	31	unexpected	unexpected	ADJ
fsr-3734	20	32	cut	cut	NOUN
fsr-3734	20	33	in	in	ADP
fsr-3734	20	34	dividends	dividend	NOUN
fsr-3734	20	35	.	.	PUNCT
fsr-3734	21	1	according	accord	VERB
fsr-3734	21	2	to	to	ADP
fsr-3734	21	3	keen	keen	ADJ
fsr-3734	21	4	(	(	PUNCT
fsr-3734	21	5	1983	1983	NUM
fsr-3734	21	6	)	)	PUNCT
fsr-3734	21	7	,	,	PUNCT
fsr-3734	21	8	a	a	DET
fsr-3734	21	9	central	central	ADJ
fsr-3734	21	10	tenet	tenet	NOUN
fsr-3734	21	11	of	of	ADP
fsr-3734	21	12	bank	bank	PROPN
fsr-3734	21	13	financial	financial	ADJ
fsr-3734	21	14	management	management	NOUN
fsr-3734	21	15	is	be	AUX
fsr-3734	21	16	to	to	PART
fsr-3734	21	17	avoid	avoid	VERB
fsr-3734	21	18	a	a	DET
fsr-3734	21	19	cut	cut	NOUN
fsr-3734	21	20	in	in	ADP
fsr-3734	21	21	cash	cash	NOUN
fsr-3734	21	22	dividends	dividend	NOUN
fsr-3734	21	23	because	because	SCONJ
fsr-3734	21	24	a	a	DET
fsr-3734	21	25	dividend	dividend	NOUN
fsr-3734	21	26	cut	cut	NOUN
fsr-3734	21	27	connotes	connote	VERB
fsr-3734	21	28	a	a	DET
fsr-3734	21	29	weakening	weakening	NOUN
fsr-3734	21	30	in	in	ADP
fsr-3734	21	31	the	the	DET
fsr-3734	21	32	soundness	soundness	NOUN
fsr-3734	21	33	of	of	ADP
fsr-3734	21	34	a	a	DET
fsr-3734	21	35	bank	bank	NOUN
fsr-3734	21	36	.	.	PUNCT
fsr-3734	22	1	furthermore	furthermore	ADV
fsr-3734	22	2	,	,	PUNCT
fsr-3734	22	3	bhattacharya	bhattacharya	PROPN
fsr-3734	22	4	(	(	PUNCT
fsr-3734	22	5	1979	1979	NUM
fsr-3734	22	6	)	)	PUNCT
fsr-3734	22	7	argues	argue	VERB
fsr-3734	22	8	that	that	SCONJ
fsr-3734	22	9	due	due	ADP
fsr-3734	22	10	to	to	ADP
fsr-3734	22	11	informational	informational	ADJ
fsr-3734	22	12	asymmetries	asymmetry	NOUN
fsr-3734	22	13	,	,	PUNCT
fsr-3734	22	14	cuts	cut	NOUN
fsr-3734	22	15	in	in	ADP
fsr-3734	22	16	dividends	dividend	NOUN
fsr-3734	22	17	will	will	AUX
fsr-3734	22	18	have	have	VERB
fsr-3734	22	19	a	a	DET
fsr-3734	22	20	greater	great	ADJ
fsr-3734	22	21	negative	negative	ADJ
fsr-3734	22	22	impact	impact	NOUN
fsr-3734	22	23	on	on	ADP
fsr-3734	22	24	shareholder	shareholder	NOUN
fsr-3734	22	25	’s	’s	PART
fsr-3734	22	26	wealth	wealth	NOUN
fsr-3734	22	27	than	than	SCONJ
fsr-3734	22	28	will	will	AUX
fsr-3734	22	29	positive	positive	ADJ
fsr-3734	22	30	effects	effect	NOUN
fsr-3734	22	31	associated	associate	VERB
fsr-3734	22	32	with	with	ADP
fsr-3734	22	33	dividend	dividend	NOUN
fsr-3734	22	34	increases	increase	NOUN
fsr-3734	22	35	.	.	PUNCT
fsr-3734	23	1	while	while	SCONJ
fsr-3734	23	2	cash	cash	NOUN
fsr-3734	23	3	dividends	dividend	NOUN
fsr-3734	23	4	paid	pay	VERB
fsr-3734	23	5	provides	provide	VERB
fsr-3734	23	6	information	information	NOUN
fsr-3734	23	7	about	about	ADP
fsr-3734	23	8	the	the	DET
fsr-3734	23	9	future	future	ADJ
fsr-3734	23	10	well	well	ADV
fsr-3734	23	11	-	-	PUNCT
fsr-3734	23	12	being	being	NOUN
fsr-3734	23	13	of	of	ADP
fsr-3734	23	14	a	a	DET
fsr-3734	23	15	bank	bank	NOUN
fsr-3734	23	16	,	,	PUNCT
fsr-3734	23	17	dividend	dividend	NOUN
fsr-3734	23	18	payout	payout	NOUN
fsr-3734	23	19	as	as	ADP
fsr-3734	23	20	a	a	DET
fsr-3734	23	21	percent	percent	NOUN
fsr-3734	23	22	of	of	ADP
fsr-3734	23	23	earnings	earning	NOUN
fsr-3734	23	24	(	(	PUNCT
fsr-3734	23	25	i.e.	i.e.	X
fsr-3734	23	26	,	,	PUNCT
fsr-3734	23	27	dividend	dividend	VERB
fsr-3734	23	28	payout	payout	NOUN
fsr-3734	23	29	ratio	ratio	NOUN
fsr-3734	23	30	)	)	PUNCT
fsr-3734	23	31	also	also	ADV
fsr-3734	23	32	yields	yield	VERB
fsr-3734	23	33	valuable	valuable	ADJ
fsr-3734	23	34	information	information	NOUN
fsr-3734	23	35	.	.	PUNCT
fsr-3734	24	1	mayne	mayne	NOUN
fsr-3734	24	2	(	(	PUNCT
fsr-3734	24	3	1980	1980	NUM
fsr-3734	24	4	)	)	PUNCT
fsr-3734	24	5	points	point	VERB
fsr-3734	24	6	out	out	ADP
fsr-3734	24	7	that	that	SCONJ
fsr-3734	24	8	in	in	ADP
fsr-3734	24	9	the	the	DET
fsr-3734	24	10	mid	mid	ADJ
fsr-3734	24	11	1970s	1970	NOUN
fsr-3734	24	12	retained	retain	VERB
fsr-3734	24	13	earnings	earning	NOUN
fsr-3734	24	14	constituted	constitute	VERB
fsr-3734	24	15	56	56	NUM
fsr-3734	24	16	%	%	NOUN
fsr-3734	24	17	to	to	PART
fsr-3734	24	18	76	76	NUM
fsr-3734	24	19	%	%	NOUN
fsr-3734	24	20	of	of	ADP
fsr-3734	24	21	the	the	DET
fsr-3734	24	22	net	net	ADJ
fsr-3734	24	23	growth	growth	NOUN
fsr-3734	24	24	in	in	ADP
fsr-3734	24	25	bank	bank	NOUN
fsr-3734	24	26	equity	equity	NOUN
fsr-3734	24	27	;	;	PUNCT
fsr-3734	24	28	currently	currently	ADV
fsr-3734	24	29	,	,	PUNCT
fsr-3734	24	30	they	they	PRON
fsr-3734	24	31	represent	represent	VERB
fsr-3734	24	32	about	about	ADV
fsr-3734	24	33	30	30	NUM
fsr-3734	24	34	%	%	NOUN
fsr-3734	24	35	.	.	PUNCT
fsr-3734	25	1	one	one	PRON
fsr-3734	25	2	may	may	AUX
fsr-3734	25	3	hypothesize	hypothesize	VERB
fsr-3734	25	4	that	that	SCONJ
fsr-3734	25	5	changes	change	NOUN
fsr-3734	25	6	in	in	ADP
fsr-3734	25	7	the	the	DET
fsr-3734	25	8	dividend	dividend	NOUN
fsr-3734	25	9	payout	payout	NOUN
fsr-3734	25	10	ratio	ratio	NOUN
fsr-3734	25	11	can	can	AUX
fsr-3734	25	12	potentially	potentially	ADV
fsr-3734	25	13	affect	affect	VERB
fsr-3734	25	14	the	the	DET
fsr-3734	25	15	capital	capital	NOUN
fsr-3734	25	16	position	position	NOUN
fsr-3734	25	17	of	of	ADP
fsr-3734	25	18	a	a	DET
fsr-3734	25	19	depository	depository	NOUN
fsr-3734	25	20	institution	institution	NOUN
fsr-3734	25	21	,	,	PUNCT
fsr-3734	25	22	the	the	DET
fsr-3734	25	23	ability	ability	NOUN
fsr-3734	25	24	of	of	ADP
fsr-3734	25	25	banks	bank	NOUN
fsr-3734	25	26	to	to	PART
fsr-3734	25	27	meet	meet	VERB
fsr-3734	25	28	new	new	ADJ
fsr-3734	25	29	opportunities	opportunity	NOUN
fsr-3734	25	30	,	,	PUNCT
fsr-3734	25	31	and	and	CCONJ
fsr-3734	25	32	,	,	PUNCT
fsr-3734	25	33	foremost	foremost	ADV
fsr-3734	25	34	,	,	PUNCT
fsr-3734	25	35	the	the	DET
fsr-3734	25	36	potential	potential	ADJ
fsr-3734	25	37	soundness	soundness	NOUN
fsr-3734	25	38	of	of	ADP
fsr-3734	25	39	the	the	DET
fsr-3734	25	40	institution	institution	NOUN
fsr-3734	25	41	.	.	PUNCT
fsr-3734	26	1	the	the	DET
fsr-3734	26	2	purpose	purpose	NOUN
fsr-3734	26	3	of	of	ADP
fsr-3734	26	4	this	this	DET
fsr-3734	26	5	study	study	NOUN
fsr-3734	26	6	,	,	PUNCT
fsr-3734	26	7	therefore	therefore	ADV
fsr-3734	26	8	,	,	PUNCT
fsr-3734	26	9	is	be	AUX
fsr-3734	26	10	not	not	PART
fsr-3734	26	11	only	only	ADV
fsr-3734	26	12	to	to	PART
fsr-3734	26	13	define	define	VERB
fsr-3734	26	14	a	a	DET
fsr-3734	26	15	bank	bank	NOUN
fsr-3734	26	16	management	management	NOUN
fsr-3734	26	17	’s	’s	PART
fsr-3734	26	18	dividend	dividend	NOUN
fsr-3734	26	19	policy	policy	NOUN
fsr-3734	26	20	(	(	PUNCT
fsr-3734	26	21	i.e.	i.e.	X
fsr-3734	26	22	stable	stable	ADJ
fsr-3734	26	23	cash	cash	NOUN
fsr-3734	26	24	dividends	dividend	NOUN
fsr-3734	26	25	versus	versus	ADP
fsr-3734	26	26	stable	stable	ADJ
fsr-3734	26	27	payout	payout	NOUN
fsr-3734	26	28	ratios	ratio	NOUN
fsr-3734	26	29	)	)	PUNCT
fsr-3734	26	30	but	but	CCONJ
fsr-3734	26	31	also	also	ADV
fsr-3734	26	32	to	to	PART
fsr-3734	26	33	describe	describe	VERB
fsr-3734	26	34	the	the	DET
fsr-3734	26	35	role	role	NOUN
fsr-3734	26	36	of	of	ADP
fsr-3734	26	37	dividends	dividend	NOUN
fsr-3734	26	38	as	as	ADP
fsr-3734	26	39	a	a	DET
fsr-3734	26	40	signal	signal	NOUN
fsr-3734	26	41	of	of	ADP
fsr-3734	26	42	market	market	NOUN
fsr-3734	26	43	quality	quality	NOUN
fsr-3734	26	44	.	.	PUNCT
fsr-3734	27	1	market	market	NOUN
fsr-3734	27	2	quality	quality	NOUN
fsr-3734	27	3	refers	refer	VERB
fsr-3734	27	4	to	to	ADP
fsr-3734	27	5	the	the	DET
fsr-3734	27	6	future	future	ADJ
fsr-3734	27	7	expected	expect	VERB
fsr-3734	27	8	cash	cash	NOUN
fsr-3734	27	9	flow	flow	NOUN
fsr-3734	27	10	from	from	ADP
fsr-3734	27	11	an	an	DET
fsr-3734	27	12	asset	asset	NOUN
fsr-3734	27	13	.	.	PUNCT
fsr-3734	28	1	section	section	PROPN
fsr-3734	28	2	ii	ii	PROPN
fsr-3734	28	3	outlines	outline	VERB
fsr-3734	28	4	the	the	DET
fsr-3734	28	5	dividend	dividend	NOUN
fsr-3734	28	6	signaling	signal	VERB
fsr-3734	28	7	argument	argument	NOUN
fsr-3734	28	8	.	.	PUNCT
fsr-3734	29	1	section	section	NOUN
fsr-3734	29	2	iii	iii	NOUN
fsr-3734	29	3	provides	provide	VERB
fsr-3734	29	4	information	information	NOUN
fsr-3734	29	5	on	on	ADP
fsr-3734	29	6	the	the	DET
fsr-3734	29	7	data	datum	NOUN
fsr-3734	29	8	used	use	VERB
fsr-3734	29	9	,	,	PUNCT
fsr-3734	29	10	while	while	SCONJ
fsr-3734	29	11	section	section	NOUN
fsr-3734	29	12	iv	iv	NOUN
fsr-3734	29	13	presents	present	VERB
fsr-3734	29	14	the	the	DET
fsr-3734	29	15	analysis	analysis	NOUN
fsr-3734	29	16	.	.	PUNCT
fsr-3734	30	1	the	the	DET
fsr-3734	30	2	last	last	ADJ
fsr-3734	30	3	section	section	NOUN
fsr-3734	30	4	summarizes	summarize	VERB
fsr-3734	30	5	the	the	DET
fsr-3734	30	6	research	research	NOUN
fsr-3734	30	7	.	.	PUNCT
fsr-3734	31	1	ii	ii	PROPN
fsr-3734	31	2	.	.	PUNCT
fsr-3734	31	3	dividendsignalingargument	dividendsignalingargument	NOUN
fsr-3734	31	4	-	-	PUNCT
fsr-3734	31	5	backgroundinformation	backgroundinformation	NOUN
fsr-3734	31	6	the	the	DET
fsr-3734	31	7	rationale	rationale	NOUN
fsr-3734	31	8	for	for	ADP
fsr-3734	31	9	analyzing	analyze	VERB
fsr-3734	31	10	the	the	DET
fsr-3734	31	11	dividend	dividend	NOUN
fsr-3734	31	12	policy	policy	NOUN
fsr-3734	31	13	of	of	ADP
fsr-3734	31	14	banks	bank	NOUN
fsr-3734	31	15	stems	stem	VERB
fsr-3734	31	16	from	from	ADP
fsr-3734	31	17	the	the	DET
fsr-3734	31	18	fact	fact	NOUN
fsr-3734	31	19	that	that	SCONJ
fsr-3734	31	20	reported	report	VERB
fsr-3734	31	21	financial	financial	ADJ
fsr-3734	31	22	information	information	NOUN
fsr-3734	31	23	by	by	ADP
fsr-3734	31	24	depository	depository	NOUN
fsr-3734	31	25	institutions	institution	NOUN
fsr-3734	31	26	reveals	reveal	VERB
fsr-3734	31	27	book	book	NOUN
fsr-3734	31	28	values	value	NOUN
fsr-3734	31	29	rather	rather	ADV
fsr-3734	31	30	than	than	ADP
fsr-3734	31	31	market	market	NOUN
fsr-3734	31	32	values	value	NOUN
fsr-3734	31	33	,	,	PUNCT
fsr-3734	31	34	even	even	ADV
fsr-3734	31	35	when	when	SCONJ
fsr-3734	31	36	the	the	DET
fsr-3734	31	37	market	market	NOUN
fsr-3734	31	38	value	value	NOUN
fsr-3734	31	39	of	of	ADP
fsr-3734	31	40	a	a	DET
fsr-3734	31	41	bank	bank	NOUN
fsr-3734	31	42	’s	’s	PART
fsr-3734	31	43	assets	asset	NOUN
fsr-3734	31	44	is	be	AUX
fsr-3734	31	45	available	available	ADJ
fsr-3734	31	46	to	to	ADP
fsr-3734	31	47	management	management	NOUN
fsr-3734	31	48	.	.	PUNCT
fsr-3734	32	1	(	(	PUNCT
fsr-3734	32	2	financial	financial	ADJ
fsr-3734	32	3	accounting	accounting	NOUN
fsr-3734	32	4	standard	standard	PROPN
fsr-3734	32	5	107	107	NUM
fsr-3734	32	6	now	now	ADV
fsr-3734	32	7	requires	require	VERB
fsr-3734	32	8	publicly	publicly	ADV
fsr-3734	32	9	held	hold	VERB
fsr-3734	32	10	banks	bank	NOUN
fsr-3734	32	11	or	or	CCONJ
fsr-3734	32	12	bank	bank	NOUN
fsr-3734	32	13	holding	hold	VERB
fsr-3734	32	14	companies	company	NOUN
fsr-3734	32	15	to	to	PART
fsr-3734	32	16	report	report	VERB
fsr-3734	32	17	fair	fair	ADJ
fsr-3734	32	18	market	market	NOUN
fsr-3734	32	19	values	value	NOUN
fsr-3734	32	20	of	of	ADP
fsr-3734	32	21	assets	asset	NOUN
fsr-3734	32	22	and	and	CCONJ
fsr-3734	32	23	liabilities	liability	NOUN
fsr-3734	32	24	in	in	ADP
fsr-3734	32	25	a	a	DET
fsr-3734	32	26	footnote	footnote	NOUN
fsr-3734	32	27	in	in	ADP
fsr-3734	32	28	the	the	DET
fsr-3734	32	29	annual	annual	ADJ
fsr-3734	32	30	financial	financial	ADJ
fsr-3734	32	31	statement	statement	NOUN
fsr-3734	32	32	.	.	PUNCT
fsr-3734	32	33	)	)	PUNCT
fsr-3734	33	1	however	however	ADV
fsr-3734	33	2	,	,	PUNCT
fsr-3734	33	3	since	since	SCONJ
fsr-3734	33	4	market	market	NOUN
fsr-3734	33	5	values	value	NOUN
fsr-3734	33	6	are	be	AUX
fsr-3734	33	7	not	not	PART
fsr-3734	33	8	presented	present	VERB
fsr-3734	33	9	on	on	ADP
fsr-3734	33	10	a	a	DET
fsr-3734	33	11	continuous	continuous	ADJ
fsr-3734	33	12	basis	basis	NOUN
fsr-3734	33	13	,	,	PUNCT
fsr-3734	33	14	deposi	deposi	NOUN
fsr-3734	33	15	tors	tor	NOUN
fsr-3734	33	16	,	,	PUNCT
fsr-3734	33	17	investors	investor	NOUN
fsr-3734	33	18	,	,	PUNCT
fsr-3734	33	19	and	and	CCONJ
fsr-3734	33	20	creditors	creditor	NOUN
fsr-3734	33	21	know	know	VERB
fsr-3734	33	22	too	too	ADV
fsr-3734	33	23	little	little	ADJ
fsr-3734	33	24	about	about	ADP
fsr-3734	33	25	the	the	DET
fsr-3734	33	26	actual	actual	ADJ
fsr-3734	33	27	net	net	ADJ
fsr-3734	33	28	worth	worth	NOUN
fsr-3734	33	29	and	and	CCONJ
fsr-3734	33	30	risk	risk	NOUN
fsr-3734	33	31	of	of	ADP
fsr-3734	33	32	the	the	DET
fsr-3734	33	33	institution	institution	NOUN
fsr-3734	33	34	(	(	PUNCT
fsr-3734	33	35	white	white	ADJ
fsr-3734	33	36	,	,	PUNCT
fsr-3734	33	37	1989	1989	NUM
fsr-3734	33	38	)	)	PUNCT
fsr-3734	33	39	.	.	PUNCT
fsr-3734	34	1	this	this	DET
fsr-3734	34	2	lack	lack	NOUN
fsr-3734	34	3	of	of	ADP
fsr-3734	34	4	information	information	NOUN
fsr-3734	34	5	introduces	introduce	VERB
fsr-3734	34	6	uncertainty	uncertainty	NOUN
fsr-3734	34	7	,	,	PUNCT
fsr-3734	34	8	because	because	SCONJ
fsr-3734	34	9	deposi	deposi	NOUN
fsr-3734	34	10	tors	tor	NOUN
fsr-3734	34	11	and	and	CCONJ
fsr-3734	34	12	creditors	creditor	NOUN
fsr-3734	34	13	alike	alike	ADV
fsr-3734	34	14	can	can	AUX
fsr-3734	34	15	not	not	PART
fsr-3734	34	16	distinguish	distinguish	VERB
fsr-3734	34	17	between	between	ADP
fsr-3734	34	18	zombie	zombie	NOUN
fsr-3734	34	19	(	(	PUNCT
fsr-3734	34	20	poorly	poorly	ADV
fsr-3734	34	21	managed	manage	VERB
fsr-3734	34	22	)	)	PUNCT
fsr-3734	34	23	and	and	CCONJ
fsr-3734	34	24	non	non	ADJ
fsr-3734	34	25	-	-	ADJ
fsr-3734	34	26	zom	zom	ADJ
fsr-3734	34	27	bie	bie	PROPN
fsr-3734	34	28	(	(	PUNCT
fsr-3734	34	29	well	well	ADV
fsr-3734	34	30	-	-	PUNCT
fsr-3734	34	31	run	run	VERB
fsr-3734	34	32	)	)	PUNCT
fsr-3734	34	33	institutions	institution	NOUN
fsr-3734	34	34	,	,	PUNCT
fsr-3734	34	35	and	and	CCONJ
fsr-3734	34	36	therefore	therefore	ADV
fsr-3734	34	37	the	the	DET
fsr-3734	34	38	cost	cost	NOUN
fsr-3734	34	39	of	of	ADP
fsr-3734	34	40	capital	capital	NOUN
fsr-3734	34	41	is	be	AUX
fsr-3734	34	42	raised	raise	VERB
fsr-3734	34	43	to	to	ADP
fsr-3734	34	44	all	all	DET
fsr-3734	34	45	institutions	institution	NOUN
fsr-3734	34	46	(	(	PUNCT
fsr-3734	34	47	kane	kane	PROPN
fsr-3734	34	48	,	,	PUNCT
fsr-3734	34	49	1989	1989	NUM
fsr-3734	34	50	)	)	PUNCT
fsr-3734	34	51	.	.	PUNCT
fsr-3734	35	1	hence	hence	ADV
fsr-3734	35	2	,	,	PUNCT
fsr-3734	35	3	the	the	DET
fsr-3734	35	4	potential	potential	NOUN
fsr-3734	35	5	arises	arise	VERB
fsr-3734	35	6	for	for	SCONJ
fsr-3734	35	7	bad	bad	ADJ
fsr-3734	35	8	institutions	institution	NOUN
fsr-3734	35	9	to	to	PART
fsr-3734	35	10	end	end	VERB
fsr-3734	35	11	up	up	ADP
fsr-3734	35	12	making	make	VERB
fsr-3734	35	13	good	good	ADJ
fsr-3734	35	14	institutions	institution	NOUN
fsr-3734	35	15	unsound	unsound	ADV
fsr-3734	35	16	(	(	PUNCT
fsr-3734	35	17	an	an	DET
fsr-3734	35	18	application	application	NOUN
fsr-3734	35	19	of	of	ADP
fsr-3734	35	20	gresham	gresham	PROPN
fsr-3734	35	21	’s	’s	PART
fsr-3734	35	22	law	law	NOUN
fsr-3734	35	23	)	)	PUNCT
fsr-3734	35	24	.	.	PUNCT
fsr-3734	36	1	therefore	therefore	ADV
fsr-3734	36	2	,	,	PUNCT
fsr-3734	36	3	when	when	SCONJ
fsr-3734	36	4	sellers	seller	NOUN
fsr-3734	36	5	know	know	VERB
fsr-3734	36	6	the	the	DET
fsr-3734	36	7	quality	quality	NOUN
fsr-3734	36	8	of	of	ADP
fsr-3734	36	9	their	their	PRON
fsr-3734	36	10	product	product	NOUN
fsr-3734	36	11	and	and	CCONJ
fsr-3734	36	12	buyers	buyer	NOUN
fsr-3734	36	13	do	do	VERB
fsr-3734	36	14	not	not	PART
fsr-3734	36	15	,	,	PUNCT
fsr-3734	36	16	sellers	seller	NOUN
fsr-3734	36	17	of	of	ADP
fsr-3734	36	18	the	the	DET
fsr-3734	36	19	high	high	ADJ
fsr-3734	36	20	-	-	PUNCT
fsr-3734	36	21	quality	quality	NOUN
fsr-3734	36	22	product	product	NOUN
fsr-3734	36	23	(	(	PUNCT
fsr-3734	36	24	well	well	ADV
fsr-3734	36	25	-	-	PUNCT
fsr-3734	36	26	managed	manage	VERB
fsr-3734	36	27	banks	bank	NOUN
fsr-3734	36	28	)	)	PUNCT
fsr-3734	36	29	have	have	VERB
fsr-3734	36	30	an	an	DET
fsr-3734	36	31	incentive	incentive	NOUN
fsr-3734	36	32	to	to	PART
fsr-3734	36	33	signal	signal	VERB
fsr-3734	36	34	this	this	DET
fsr-3734	36	35	information	information	NOUN
fsr-3734	36	36	to	to	ADP
fsr-3734	36	37	buyers	buyer	NOUN
fsr-3734	36	38	.	.	PUNCT
fsr-3734	37	1	if	if	SCONJ
fsr-3734	37	2	the	the	DET
fsr-3734	37	3	seller	seller	NOUN
fsr-3734	37	4	is	be	AUX
fsr-3734	37	5	successful	successful	ADJ
fsr-3734	37	6	,	,	PUNCT
fsr-3734	37	7	then	then	ADV
fsr-3734	37	8	the	the	DET
fsr-3734	37	9	strong	strong	ADJ
fsr-3734	37	10	bank	bank	NOUN
fsr-3734	37	11	has	have	AUX
fsr-3734	37	12	segmented	segment	VERB
fsr-3734	37	13	the	the	DET
fsr-3734	37	14	market	market	NOUN
fsr-3734	37	15	so	so	SCONJ
fsr-3734	37	16	that	that	SCONJ
fsr-3734	37	17	it	it	PRON
fsr-3734	37	18	is	be	AUX
fsr-3734	37	19	not	not	PART
fsr-3734	37	20	actually	actually	ADV
fsr-3734	37	21	competing	compete	VERB
fsr-3734	37	22	in	in	ADP
fsr-3734	37	23	the	the	DET
fsr-3734	37	24	same	same	ADJ
fsr-3734	37	25	market	market	NOUN
fsr-3734	37	26	as	as	ADP
fsr-3734	37	27	poor	poor	ADJ
fsr-3734	37	28	-	-	PUNCT
fsr-3734	37	29	asset	asset	NOUN
fsr-3734	37	30	-	-	PUNCT
fsr-3734	37	31	quality	quality	NOUN
fsr-3734	37	32	institutions	institution	NOUN
fsr-3734	37	33	.	.	PUNCT
fsr-3734	38	1	given	give	VERB
fsr-3734	38	2	this	this	DET
fsr-3734	38	3	circumstance	circumstance	NOUN
fsr-3734	38	4	,	,	PUNCT
fsr-3734	38	5	the	the	DET
fsr-3734	38	6	cost	cost	NOUN
fsr-3734	38	7	of	of	ADP
fsr-3734	38	8	capital	capital	NOUN
fsr-3734	38	9	should	should	AUX
fsr-3734	38	10	be	be	AUX
fsr-3734	38	11	lower	low	ADJ
fsr-3734	38	12	for	for	ADP
fsr-3734	38	13	the	the	DET
fsr-3734	38	14	strong	strong	ADJ
fsr-3734	38	15	bank	bank	NOUN
fsr-3734	38	16	,	,	PUNCT
fsr-3734	38	17	thereby	thereby	ADV
fsr-3734	38	18	improving	improve	VERB
fsr-3734	38	19	the	the	DET
fsr-3734	38	20	value	value	NOUN
fsr-3734	38	21	of	of	ADP
fsr-3734	38	22	the	the	DET
fsr-3734	38	23	bank	bank	NOUN
fsr-3734	38	24	.	.	PUNCT
fsr-3734	39	1	thus	thus	ADV
fsr-3734	39	2	,	,	PUNCT
fsr-3734	39	3	between	between	ADP
fsr-3734	39	4	annual	annual	ADJ
fsr-3734	39	5	financial	financial	ADJ
fsr-3734	39	6	statements	statement	NOUN
fsr-3734	39	7	,	,	PUNCT
fsr-3734	39	8	one	one	NUM
fsr-3734	39	9	vehicle	vehicle	NOUN
fsr-3734	39	10	available	available	ADJ
fsr-3734	39	11	to	to	ADP
fsr-3734	39	12	management	management	NOUN
fsr-3734	39	13	to	to	PART
fsr-3734	39	14	disclose	disclose	VERB
fsr-3734	39	15	its	its	PRON
fsr-3734	39	16	quality	quality	NOUN
fsr-3734	39	17	is	be	AUX
fsr-3734	39	18	its	its	PRON
fsr-3734	39	19	dividend	dividend	NOUN
fsr-3734	39	20	policy	policy	NOUN
fsr-3734	39	21	.	.	PUNCT
fsr-3734	40	1	it	it	PRON
fsr-3734	40	2	is	be	AUX
fsr-3734	40	3	reasonable	reasonable	ADJ
fsr-3734	40	4	to	to	PART
fsr-3734	40	5	assume	assume	VERB
fsr-3734	40	6	that	that	SCONJ
fsr-3734	40	7	banks	bank	NOUN
fsr-3734	40	8	use	use	VERB
fsr-3734	40	9	their	their	PRON
fsr-3734	40	10	dividend	dividend	NOUN
fsr-3734	40	11	policy	policy	NOUN
fsr-3734	40	12	to	to	PART
fsr-3734	40	13	signal	signal	VERB
fsr-3734	40	14	their	their	PRON
fsr-3734	40	15	well	well	ADV
fsr-3734	40	16	-	-	PUNCT
fsr-3734	40	17	being	being	NOUN
fsr-3734	40	18	rather	rather	ADV
fsr-3734	40	19	than	than	ADP
fsr-3734	40	20	continuously	continuously	ADV
fsr-3734	40	21	update	update	VERB
fsr-3734	40	22	and	and	CCONJ
fsr-3734	40	23	reveal	reveal	VERB
fsr-3734	40	24	market	market	NOUN
fsr-3734	40	25	information	information	NOUN
fsr-3734	40	26	(	(	PUNCT
fsr-3734	40	27	since	since	SCONJ
fsr-3734	40	28	asset	asset	NOUN
fsr-3734	40	29	quality	quality	NOUN
fsr-3734	40	30	and	and	CCONJ
fsr-3734	40	31	bank	bank	NOUN
fsr-3734	40	32	dividend	dividend	NOUN
fsr-3734	40	33	policy	policy	NOUN
fsr-3734	40	34	as	as	ADP
fsr-3734	40	35	a	a	DET
fsr-3734	40	36	signal	signal	NOUN
fsr-3734	40	37	of	of	ADP
fsr-3734	40	38	bank	bank	NOUN
fsr-3734	40	39	quality	quality	NOUN
fsr-3734	40	40	3	3	NUM
fsr-3734	40	41	market	market	NOUN
fsr-3734	40	42	value	value	NOUN
fsr-3734	40	43	of	of	ADP
fsr-3734	40	44	assets	asset	NOUN
fsr-3734	40	45	are	be	AUX
fsr-3734	40	46	closely	closely	ADV
fsr-3734	40	47	related	relate	VERB
fsr-3734	40	48	)	)	PUNCT
fsr-3734	40	49	.	.	PUNCT
fsr-3734	41	1	disclosure	disclosure	NOUN
fsr-3734	41	2	of	of	ADP
fsr-3734	41	3	market	market	NOUN
fsr-3734	41	4	value	value	NOUN
fsr-3734	41	5	by	by	ADP
fsr-3734	41	6	a	a	DET
fsr-3734	41	7	bank	bank	NOUN
fsr-3734	41	8	is	be	AUX
fsr-3734	41	9	represented	represent	VERB
fsr-3734	41	10	by	by	ADP
fsr-3734	41	11	a	a	DET
fsr-3734	41	12	transaction	transaction	NOUN
fsr-3734	41	13	cost	cost	NOUN
fsr-3734	41	14	,	,	PUNCT
fsr-3734	41	15	c.	c.	PROPN
fsr-3734	41	16	bank	bank	PROPN
fsr-3734	41	17	management	management	NOUN
fsr-3734	41	18	must	must	AUX
fsr-3734	41	19	compare	compare	VERB
fsr-3734	41	20	the	the	DET
fsr-3734	41	21	cost	cost	NOUN
fsr-3734	41	22	associated	associate	VERB
fsr-3734	41	23	with	with	ADP
fsr-3734	41	24	disclosing	disclose	VERB
fsr-3734	41	25	market	market	NOUN
fsr-3734	41	26	values	value	NOUN
fsr-3734	41	27	versus	versus	ADP
fsr-3734	41	28	the	the	DET
fsr-3734	41	29	benefits	benefit	NOUN
fsr-3734	41	30	received	receive	VERB
fsr-3734	41	31	,	,	PUNCT
fsr-3734	41	32	which	which	PRON
fsr-3734	41	33	is	be	AUX
fsr-3734	41	34	measured	measure	VERB
fsr-3734	41	35	by	by	ADP
fsr-3734	41	36	the	the	DET
fsr-3734	41	37	difference	difference	NOUN
fsr-3734	41	38	between	between	ADP
fsr-3734	41	39	the	the	DET
fsr-3734	41	40	market	market	NOUN
fsr-3734	41	41	value	value	NOUN
fsr-3734	41	42	of	of	ADP
fsr-3734	41	43	a	a	DET
fsr-3734	41	44	bank	bank	NOUN
fsr-3734	41	45	’s	’s	PART
fsr-3734	41	46	assets	asset	NOUN
fsr-3734	41	47	,	,	PUNCT
fsr-3734	41	48	a	a	DET
fsr-3734	41	49	,	,	PUNCT
fsr-3734	41	50	,	,	PUNCT
fsr-3734	41	51	,	,	PUNCT
fsr-3734	41	52	and	and	CCONJ
fsr-3734	41	53	the	the	DET
fsr-3734	41	54	book	book	NOUN
fsr-3734	41	55	value	value	NOUN
fsr-3734	41	56	of	of	ADP
fsr-3734	41	57	a	a	DET
fsr-3734	41	58	bank	bank	NOUN
fsr-3734	41	59	’s	’s	PART
fsr-3734	41	60	assets	asset	NOUN
fsr-3734	41	61	,	,	PUNCT
fsr-3734	41	62	a	a	DET
fsr-3734	41	63	,	,	PUNCT
fsr-3734	41	64	,	,	PUNCT
fsr-3734	41	65	.	.	PUNCT
fsr-3734	42	1	if	if	SCONJ
fsr-3734	42	2	a	a	DET
fsr-3734	42	3	,	,	PUNCT
fsr-3734	42	4	-ab	-ab	NUM
fsr-3734	42	5	is	be	AUX
fsr-3734	42	6	greater	great	ADJ
fsr-3734	42	7	than	than	ADP
fsr-3734	42	8	or	or	CCONJ
fsr-3734	42	9	equal	equal	ADJ
fsr-3734	42	10	to	to	ADP
fsr-3734	42	11	c	c	NOUN
fsr-3734	42	12	,	,	PUNCT
fsr-3734	42	13	then	then	ADV
fsr-3734	42	14	management	management	NOUN
fsr-3734	42	15	has	have	VERB
fsr-3734	42	16	an	an	DET
fsr-3734	42	17	incentive	incentive	NOUN
fsr-3734	42	18	to	to	PART
fsr-3734	42	19	reveal	reveal	VERB
fsr-3734	42	20	market	market	NOUN
fsr-3734	42	21	value	value	NOUN
fsr-3734	42	22	information	information	NOUN
fsr-3734	42	23	.	.	PUNCT
fsr-3734	43	1	however	however	ADV
fsr-3734	43	2	,	,	PUNCT
fsr-3734	43	3	ifa	ifa	PROPN
fsr-3734	43	4	,	,	PUNCT
fsr-3734	43	5	-a	-a	X
fsr-3734	43	6	,	,	PUNCT
fsr-3734	43	7	is	be	AUX
fsr-3734	43	8	less	less	ADJ
fsr-3734	43	9	than	than	ADP
fsr-3734	43	10	c	c	NOUN
fsr-3734	43	11	,	,	PUNCT
fsr-3734	43	12	there	there	PRON
fsr-3734	43	13	does	do	AUX
fsr-3734	43	14	not	not	PART
fsr-3734	43	15	exist	exist	VERB
fsr-3734	43	16	an	an	DET
fsr-3734	43	17	incentive	incentive	NOUN
fsr-3734	43	18	to	to	PART
fsr-3734	43	19	reveal	reveal	VERB
fsr-3734	43	20	market	market	NOUN
fsr-3734	43	21	values	value	NOUN
fsr-3734	43	22	.	.	PUNCT
fsr-3734	44	1	thus	thus	ADV
fsr-3734	44	2	,	,	PUNCT
fsr-3734	44	3	it	it	PRON
fsr-3734	44	4	is	be	AUX
fsr-3734	44	5	possible	possible	ADJ
fsr-3734	44	6	for	for	SCONJ
fsr-3734	44	7	a	a	DET
fsr-3734	44	8	bank	bank	NOUN
fsr-3734	44	9	not	not	PART
fsr-3734	44	10	to	to	PART
fsr-3734	44	11	reveal	reveal	VERB
fsr-3734	44	12	market	market	NOUN
fsr-3734	44	13	values	value	NOUN
fsr-3734	44	14	even	even	ADV
fsr-3734	44	15	though	though	SCONJ
fsr-3734	44	16	the	the	DET
fsr-3734	44	17	reported	report	VERB
fsr-3734	44	18	book	book	NOUN
fsr-3734	44	19	value	value	NOUN
fsr-3734	44	20	of	of	ADP
fsr-3734	44	21	the	the	DET
fsr-3734	44	22	bank	bank	NOUN
fsr-3734	44	23	’s	’s	PART
fsr-3734	44	24	assets	asset	NOUN
fsr-3734	44	25	is	be	AUX
fsr-3734	44	26	less	less	ADJ
fsr-3734	44	27	than	than	ADP
fsr-3734	44	28	its	its	PRON
fsr-3734	44	29	market	market	NOUN
fsr-3734	44	30	value	value	NOUN
fsr-3734	44	31	.	.	PUNCT
fsr-3734	45	1	hence	hence	ADV
fsr-3734	45	2	,	,	PUNCT
fsr-3734	45	3	dividend	dividend	NOUN
fsr-3734	45	4	policy	policy	NOUN
fsr-3734	45	5	becomes	become	VERB
fsr-3734	45	6	an	an	DET
fsr-3734	45	7	interim	interim	ADJ
fsr-3734	45	8	vehicle	vehicle	NOUN
fsr-3734	45	9	to	to	PART
fsr-3734	45	10	distinguish	distinguish	VERB
fsr-3734	45	11	between	between	ADP
fsr-3734	45	12	these	these	DET
fsr-3734	45	13	sound	sound	ADJ
fsr-3734	45	14	and	and	CCONJ
fsr-3734	45	15	unsound	unsound	ADJ
fsr-3734	45	16	institutions	institution	NOUN
fsr-3734	45	17	,	,	PUNCT
fsr-3734	45	18	since	since	SCONJ
fsr-3734	45	19	banks	bank	NOUN
fsr-3734	45	20	,	,	PUNCT
fsr-3734	45	21	in	in	ADP
fsr-3734	45	22	practice	practice	NOUN
fsr-3734	45	23	,	,	PUNCT
fsr-3734	45	24	do	do	AUX
fsr-3734	45	25	not	not	PART
fsr-3734	45	26	generally	generally	ADV
fsr-3734	45	27	disclose	disclose	VERB
fsr-3734	45	28	market	market	NOUN
fsr-3734	45	29	values	value	NOUN
fsr-3734	45	30	on	on	ADP
fsr-3734	45	31	an	an	DET
fsr-3734	45	32	ongoing	ongoing	ADJ
fsr-3734	45	33	basis	basis	NOUN
fsr-3734	45	34	.	.	PUNCT
fsr-3734	46	1	ideally	ideally	ADV
fsr-3734	46	2	,	,	PUNCT
fsr-3734	46	3	if	if	SCONJ
fsr-3734	46	4	a	a	DET
fsr-3734	46	5	bank	bank	NOUN
fsr-3734	46	6	increases	increase	VERB
fsr-3734	46	7	its	its	PRON
fsr-3734	46	8	dividends	dividend	NOUN
fsr-3734	46	9	,	,	PUNCT
fsr-3734	46	10	this	this	PRON
fsr-3734	46	11	should	should	AUX
fsr-3734	46	12	send	send	VERB
fsr-3734	46	13	a	a	DET
fsr-3734	46	14	signal	signal	NOUN
fsr-3734	46	15	that	that	SCONJ
fsr-3734	46	16	management	management	NOUN
fsr-3734	46	17	expects	expect	VERB
fsr-3734	46	18	superior	superior	ADJ
fsr-3734	46	19	future	future	ADJ
fsr-3734	46	20	cash	cash	NOUN
fsr-3734	46	21	flows	flow	NOUN
fsr-3734	46	22	.	.	PUNCT
fsr-3734	47	1	a	a	DET
fsr-3734	47	2	high	high	ADJ
fsr-3734	47	3	cash	cash	NOUN
fsr-3734	47	4	dividend	dividend	NOUN
fsr-3734	47	5	indicates	indicate	VERB
fsr-3734	47	6	a	a	DET
fsr-3734	47	7	reduced	reduce	VERB
fsr-3734	47	8	probability	probability	NOUN
fsr-3734	47	9	of	of	ADP
fsr-3734	47	10	failure	failure	NOUN
fsr-3734	47	11	,	,	PUNCT
fsr-3734	47	12	and	and	CCONJ
fsr-3734	47	13	this	this	PRON
fsr-3734	47	14	should	should	AUX
fsr-3734	47	15	improve	improve	VERB
fsr-3734	47	16	the	the	DET
fsr-3734	47	17	value	value	NOUN
fsr-3734	47	18	of	of	ADP
fsr-3734	47	19	shareholders	shareholder	NOUN
fsr-3734	47	20	’	'	PUNCT
fsr-3734	47	21	wealth	wealth	NOUN
fsr-3734	47	22	.	.	PUNCT
fsr-3734	48	1	therefore	therefore	ADV
fsr-3734	48	2	,	,	PUNCT
fsr-3734	48	3	the	the	DET
fsr-3734	48	4	dividend	dividend	NOUN
fsr-3734	48	5	policy	policy	NOUN
fsr-3734	48	6	provides	provide	VERB
fsr-3734	48	7	public	public	ADJ
fsr-3734	48	8	information	information	NOUN
fsr-3734	48	9	to	to	ADP
fsr-3734	48	10	the	the	DET
fsr-3734	48	11	capital	capital	NOUN
fsr-3734	48	12	markets	market	NOUN
fsr-3734	48	13	.	.	PUNCT
fsr-3734	49	1	additionally	additionally	ADV
fsr-3734	49	2	,	,	PUNCT
fsr-3734	49	3	false	false	ADJ
fsr-3734	49	4	signaling	signaling	NOUN
fsr-3734	49	5	will	will	AUX
fsr-3734	49	6	be	be	AUX
fsr-3734	49	7	discouraged	discourage	VERB
fsr-3734	49	8	by	by	ADP
fsr-3734	49	9	the	the	DET
fsr-3734	49	10	financial	financial	ADJ
fsr-3734	49	11	markets	market	NOUN
fsr-3734	49	12	because	because	SCONJ
fsr-3734	49	13	this	this	PRON
fsr-3734	49	14	will	will	AUX
fsr-3734	49	15	lead	lead	VERB
fsr-3734	49	16	to	to	ADP
fsr-3734	49	17	higher	high	ADJ
fsr-3734	49	18	transaction	transaction	NOUN
fsr-3734	49	19	costs	cost	NOUN
fsr-3734	49	20	since	since	SCONJ
fsr-3734	49	21	the	the	DET
fsr-3734	49	22	bank	bank	NOUN
fsr-3734	49	23	’s	’s	PART
fsr-3734	49	24	cash	cash	NOUN
fsr-3734	49	25	flow	flow	NOUN
fsr-3734	49	26	will	will	AUX
fsr-3734	49	27	be	be	AUX
fsr-3734	49	28	insufficient	insufficient	ADJ
fsr-3734	49	29	to	to	PART
fsr-3734	49	30	maintain	maintain	VERB
fsr-3734	49	31	its	its	PRON
fsr-3734	49	32	stated	state	VERB
fsr-3734	49	33	dividend	dividend	NOUN
fsr-3734	49	34	policy	policy	NOUN
fsr-3734	49	35	.	.	PUNCT
fsr-3734	50	1	however	however	ADV
fsr-3734	50	2	,	,	PUNCT
fsr-3734	50	3	a	a	DET
fsr-3734	50	4	potential	potential	ADJ
fsr-3734	50	5	problem	problem	NOUN
fsr-3734	50	6	of	of	ADP
fsr-3734	50	7	high	high	ADJ
fsr-3734	50	8	dividend	dividend	NOUN
fsr-3734	50	9	payouts	payout	NOUN
fsr-3734	50	10	from	from	ADP
fsr-3734	50	11	earnings	earning	NOUN
fsr-3734	50	12	may	may	AUX
fsr-3734	50	13	jeopardize	jeopardize	VERB
fsr-3734	50	14	the	the	DET
fsr-3734	50	15	future	future	ADJ
fsr-3734	50	16	safety	safety	NOUN
fsr-3734	50	17	of	of	ADP
fsr-3734	50	18	a	a	DET
fsr-3734	50	19	bank	bank	NOUN
fsr-3734	50	20	.	.	PUNCT
fsr-3734	51	1	the	the	DET
fsr-3734	51	2	dividend	dividend	NOUN
fsr-3734	51	3	payout	payout	NOUN
fsr-3734	51	4	ratio	ratio	NOUN
fsr-3734	51	5	should	should	AUX
fsr-3734	51	6	provide	provide	VERB
fsr-3734	51	7	information	information	NOUN
fsr-3734	51	8	about	about	ADP
fsr-3734	51	9	the	the	DET
fsr-3734	51	10	safety	safety	NOUN
fsr-3734	51	11	of	of	ADP
fsr-3734	51	12	a	a	DET
fsr-3734	51	13	banking	banking	NOUN
fsr-3734	51	14	entity	entity	NOUN
fsr-3734	51	15	.	.	PUNCT
fsr-3734	52	1	a	a	DET
fsr-3734	52	2	managerial	managerial	ADJ
fsr-3734	52	3	incentive	incentive	NOUN
fsr-3734	52	4	model	model	NOUN
fsr-3734	52	5	,	,	PUNCT
fsr-3734	52	6	developed	develop	VERB
fsr-3734	52	7	by	by	ADP
fsr-3734	52	8	bar	bar	NOUN
fsr-3734	52	9	-	-	PUNCT
fsr-3734	52	10	yosef	yosef	PROPN
fsr-3734	52	11	and	and	CCONJ
fsr-3734	52	12	huffman	huffman	PROPN
fsr-3734	52	13	(	(	PUNCT
fsr-3734	52	14	1986	1986	NUM
fsr-3734	52	15	)	)	PUNCT
fsr-3734	52	16	,	,	PUNCT
fsr-3734	52	17	indicates	indicate	VERB
fsr-3734	52	18	that	that	SCONJ
fsr-3734	52	19	there	there	PRON
fsr-3734	52	20	is	be	VERB
fsr-3734	52	21	an	an	DET
fsr-3734	52	22	inverse	inverse	NOUN
fsr-3734	52	23	relationship	relationship	NOUN
fsr-3734	52	24	between	between	ADP
fsr-3734	52	25	the	the	DET
fsr-3734	52	26	dividend	dividend	NOUN
fsr-3734	52	27	payout	payout	NOUN
fsr-3734	52	28	ratio	ratio	NOUN
fsr-3734	52	29	and	and	CCONJ
fsr-3734	52	30	risk	risk	NOUN
fsr-3734	52	31	.	.	PUNCT
fsr-3734	53	1	as	as	ADP
fsr-3734	53	2	risk	risk	NOUN
fsr-3734	53	3	increases	increase	NOUN
fsr-3734	53	4	,	,	PUNCT
fsr-3734	53	5	the	the	DET
fsr-3734	53	6	dividends	dividend	NOUN
fsr-3734	53	7	paid	pay	VERB
fsr-3734	53	8	as	as	ADP
fsr-3734	53	9	a	a	DET
fsr-3734	53	10	percent	percent	NOUN
fsr-3734	53	11	of	of	ADP
fsr-3734	53	12	earnings	earning	NOUN
fsr-3734	53	13	will	will	AUX
fsr-3734	53	14	decrease	decrease	VERB
fsr-3734	53	15	.	.	PUNCT
fsr-3734	54	1	thus	thus	ADV
fsr-3734	54	2	,	,	PUNCT
fsr-3734	54	3	more	more	ADJ
fsr-3734	54	4	earnings	earning	NOUN
fsr-3734	54	5	are	be	AUX
fsr-3734	54	6	being	be	AUX
fsr-3734	54	7	committed	commit	VERB
fsr-3734	54	8	to	to	ADP
fsr-3734	54	9	improving	improve	VERB
fsr-3734	54	10	a	a	DET
fsr-3734	54	11	bank	bank	NOUN
fsr-3734	54	12	’s	’s	PART
fsr-3734	54	13	capital	capital	NOUN
fsr-3734	54	14	position	position	NOUN
fsr-3734	54	15	.	.	PUNCT
fsr-3734	55	1	however	however	ADV
fsr-3734	55	2	,	,	PUNCT
fsr-3734	55	3	it	it	PRON
fsr-3734	55	4	is	be	AUX
fsr-3734	55	5	suspected	suspect	VERB
fsr-3734	55	6	that	that	SCONJ
fsr-3734	55	7	in	in	ADP
fsr-3734	55	8	the	the	DET
fsr-3734	55	9	banking	banking	NOUN
fsr-3734	55	10	industry	industry	NOUN
fsr-3734	55	11	there	there	PRON
fsr-3734	55	12	is	be	VERB
fsr-3734	55	13	a	a	DET
fsr-3734	55	14	direct	direct	ADJ
fsr-3734	55	15	relationship	relationship	NOUN
fsr-3734	55	16	between	between	ADP
fsr-3734	55	17	the	the	DET
fsr-3734	55	18	dividend	dividend	NOUN
fsr-3734	55	19	payout	payout	NOUN
fsr-3734	55	20	ratio	ratio	NOUN
fsr-3734	55	21	and	and	CCONJ
fsr-3734	55	22	risk	risk	NOUN
fsr-3734	55	23	.	.	PUNCT
fsr-3734	56	1	additionally	additionally	ADV
fsr-3734	56	2	,	,	PUNCT
fsr-3734	56	3	since	since	SCONJ
fsr-3734	56	4	risk	risk	NOUN
fsr-3734	56	5	or	or	CCONJ
fsr-3734	56	6	quality	quality	NOUN
fsr-3734	56	7	is	be	AUX
fsr-3734	56	8	generally	generally	ADV
fsr-3734	56	9	unobservable	unobservable	ADJ
fsr-3734	56	10	to	to	ADP
fsr-3734	56	11	the	the	DET
fsr-3734	56	12	public	public	NOUN
fsr-3734	56	13	,	,	PUNCT
fsr-3734	56	14	the	the	DET
fsr-3734	56	15	causation	causation	NOUN
fsr-3734	56	16	of	of	ADP
fsr-3734	56	17	the	the	DET
fsr-3734	56	18	signaling	signal	VERB
fsr-3734	56	19	argument	argument	NOUN
fsr-3734	56	20	should	should	AUX
fsr-3734	56	21	run	run	VERB
fsr-3734	56	22	from	from	ADP
fsr-3734	56	23	the	the	DET
fsr-3734	56	24	dividend	dividend	NOUN
fsr-3734	56	25	payout	payout	NOUN
fsr-3734	56	26	ratio	ratio	NOUN
fsr-3734	56	27	to	to	ADP
fsr-3734	56	28	risk	risk	NOUN
fsr-3734	56	29	,	,	PUNCT
fsr-3734	56	30	not	not	PART
fsr-3734	56	31	vice	vice	ADV
fsr-3734	56	32	versa	versa	ADV
fsr-3734	56	33	as	as	SCONJ
fsr-3734	56	34	the	the	DET
fsr-3734	56	35	managerial	managerial	ADJ
fsr-3734	56	36	incentive	incentive	NOUN
fsr-3734	56	37	model	model	NOUN
fsr-3734	56	38	contends	contend	VERB
fsr-3734	56	39	.	.	PUNCT
fsr-3734	57	1	therefore	therefore	ADV
fsr-3734	57	2	,	,	PUNCT
fsr-3734	57	3	the	the	DET
fsr-3734	57	4	signaling	signal	VERB
fsr-3734	57	5	argument	argument	NOUN
fsr-3734	57	6	suggests	suggest	VERB
fsr-3734	57	7	a	a	DET
fsr-3734	57	8	high	high	ADJ
fsr-3734	57	9	dividend	dividend	NOUN
fsr-3734	57	10	payout	payout	NOUN
fsr-3734	57	11	reflects	reflect	VERB
fsr-3734	57	12	an	an	DET
fsr-3734	57	13	increase	increase	NOUN
fsr-3734	57	14	in	in	ADP
fsr-3734	57	15	the	the	DET
fsr-3734	57	16	level	level	NOUN
fsr-3734	57	17	of	of	ADP
fsr-3734	57	18	risk	risk	NOUN
fsr-3734	57	19	being	be	AUX
fsr-3734	57	20	assumed	assume	VERB
fsr-3734	57	21	by	by	ADP
fsr-3734	57	22	a	a	DET
fsr-3734	57	23	bank	bank	NOUN
fsr-3734	57	24	.	.	PUNCT
fsr-3734	58	1	thus	thus	ADV
fsr-3734	58	2	,	,	PUNCT
fsr-3734	58	3	both	both	DET
fsr-3734	58	4	dividends	dividend	NOUN
fsr-3734	58	5	paid	pay	VERB
fsr-3734	58	6	per	per	ADP
fsr-3734	58	7	share	share	NOUN
fsr-3734	58	8	and	and	CCONJ
fsr-3734	58	9	dividends	dividend	NOUN
fsr-3734	58	10	as	as	ADP
fsr-3734	58	11	a	a	DET
fsr-3734	58	12	percent	percent	NOUN
fsr-3734	58	13	of	of	ADP
fsr-3734	58	14	earnings	earning	NOUN
fsr-3734	58	15	provide	provide	VERB
fsr-3734	58	16	signals	signal	NOUN
fsr-3734	58	17	to	to	ADP
fsr-3734	58	18	the	the	DET
fsr-3734	58	19	capital	capital	NOUN
fsr-3734	58	20	markets	market	NOUN
fsr-3734	58	21	concerning	concern	VERB
fsr-3734	58	22	the	the	DET
fsr-3734	58	23	soundness	soundness	NOUN
fsr-3734	58	24	and	and	CCONJ
fsr-3734	58	25	safety	safety	NOUN
fsr-3734	58	26	of	of	ADP
fsr-3734	58	27	depository	depository	NOUN
fsr-3734	58	28	institutions	institution	NOUN
fsr-3734	58	29	.	.	PUNCT
fsr-3734	59	1	iii	iii	X
fsr-3734	59	2	.	.	PROPN
fsr-3734	59	3	data	data	VERB
fsr-3734	59	4	the	the	DET
fsr-3734	59	5	data	datum	NOUN
fsr-3734	59	6	in	in	ADP
fsr-3734	59	7	this	this	DET
fsr-3734	59	8	study	study	NOUN
fsr-3734	59	9	represent	represent	VERB
fsr-3734	59	10	a	a	DET
fsr-3734	59	11	cross	cross	NOUN
fsr-3734	59	12	-	-	NOUN
fsr-3734	59	13	section	section	NOUN
fsr-3734	59	14	of	of	ADP
fsr-3734	59	15	207	207	NUM
fsr-3734	59	16	publicly	publicly	ADV
fsr-3734	59	17	traded	trade	VERB
fsr-3734	59	18	bank	bank	NOUN
fsr-3734	59	19	holding	hold	VERB
fsr-3734	59	20	companies	company	NOUN
fsr-3734	59	21	(	(	PUNCT
fsr-3734	59	22	bhcs	bhcs	NOUN
fsr-3734	59	23	)	)	PUNCT
fsr-3734	59	24	as	as	ADP
fsr-3734	59	25	of	of	ADP
fsr-3734	59	26	december	december	PROPN
fsr-3734	59	27	1989	1989	NUM
fsr-3734	59	28	.	.	PUNCT
fsr-3734	60	1	nine	nine	NUM
fsr-3734	60	2	bhcs	bhcs	NOUN
fsr-3734	60	3	are	be	AUX
fsr-3734	60	4	money	money	NOUN
fsr-3734	60	5	center	center	NOUN
fsr-3734	60	6	financial	financial	ADJ
fsr-3734	60	7	institutions	institution	NOUN
fsr-3734	60	8	and	and	CCONJ
fsr-3734	60	9	25	25	NUM
fsr-3734	60	10	bhcs	bhcs	NOUN
fsr-3734	60	11	are	be	AUX
fsr-3734	60	12	superregionals	superregional	NOUN
fsr-3734	60	13	.	.	PUNCT
fsr-3734	61	1	the	the	DET
fsr-3734	61	2	remaining	remain	VERB
fsr-3734	61	3	173	173	NUM
fsr-3734	61	4	are	be	AUX
fsr-3734	61	5	regional	regional	ADJ
fsr-3734	61	6	bhcs	bhcs	NOUN
fsr-3734	61	7	.	.	PUNCT
fsr-3734	62	1	sources	source	NOUN
fsr-3734	62	2	for	for	ADP
fsr-3734	62	3	the	the	DET
fsr-3734	62	4	information	information	NOUN
fsr-3734	62	5	in	in	ADP
fsr-3734	62	6	this	this	DET
fsr-3734	62	7	study	study	NOUN
fsr-3734	62	8	are	be	AUX
fsr-3734	62	9	american	american	ADJ
fsr-3734	62	10	banker	banker	NOUN
fsr-3734	62	11	,	,	PUNCT
fsr-3734	62	12	sheshunoff	sheshunoff	PROPN
fsr-3734	62	13	bank	bank	NOUN
fsr-3734	62	14	holding	hold	VERB
fsr-3734	62	15	company	company	NOUN
fsr-3734	62	16	quar	quar	NOUN
fsr-3734	62	17	terly	terly	ADV
fsr-3734	62	18	,	,	PUNCT
fsr-3734	62	19	and	and	CCONJ
fsr-3734	62	20	moody	moody	PROPN
fsr-3734	62	21	’s	’s	PART
fsr-3734	62	22	banking	banking	NOUN
fsr-3734	62	23	and	and	CCONJ
fsr-3734	62	24	finance	finance	NOUN
fsr-3734	62	25	manual	manual	NOUN
fsr-3734	62	26	.	.	PUNCT
fsr-3734	63	1	the	the	DET
fsr-3734	63	2	united	united	PROPN
fsr-3734	63	3	states	states	PROPN
fsr-3734	63	4	is	be	AUX
fsr-3734	63	5	divided	divide	VERB
fsr-3734	63	6	into	into	ADP
fsr-3734	63	7	six	six	NUM
fsr-3734	63	8	banking	banking	NOUN
fsr-3734	63	9	regions	region	NOUN
fsr-3734	63	10	:	:	PUNCT
fsr-3734	63	11	northeast	northeast	ADJ
fsr-3734	63	12	(	(	PUNCT
fsr-3734	63	13	ne	ne	PROPN
fsr-3734	63	14	)	)	PUNCT
fsr-3734	63	15	,	,	PUNCT
fsr-3734	63	16	southeast	southeast	NOUN
fsr-3734	63	17	(	(	PUNCT
fsr-3734	63	18	se	se	ADJ
fsr-3734	63	19	)	)	PUNCT
fsr-3734	63	20	,	,	PUNCT
fsr-3734	63	21	central	central	ADJ
fsr-3734	63	22	(	(	PUNCT
fsr-3734	63	23	c	c	NOUN
fsr-3734	63	24	)	)	PUNCT
fsr-3734	63	25	,	,	PUNCT
fsr-3734	63	26	midwest	midw	ADJ
fsr-3734	63	27	(	(	PUNCT
fsr-3734	63	28	mw	mw	PROPN
fsr-3734	63	29	)	)	PUNCT
fsr-3734	63	30	,	,	PUNCT
fsr-3734	63	31	southwest	southwest	NOUN
fsr-3734	63	32	(	(	PUNCT
fsr-3734	63	33	sw	sw	PROPN
fsr-3734	63	34	)	)	PUNCT
fsr-3734	63	35	,	,	PUNCT
fsr-3734	63	36	and	and	CCONJ
fsr-3734	63	37	west(w	west(w	PROPN
fsr-3734	63	38	)	)	PUNCT
fsr-3734	63	39	.	.	PUNCT
fsr-3734	64	1	the	the	DET
fsr-3734	64	2	geographic	geographic	ADJ
fsr-3734	64	3	distribution	distribution	NOUN
fsr-3734	64	4	of	of	ADP
fsr-3734	64	5	the	the	DET
fsr-3734	64	6	207	207	NUM
fsr-3734	64	7	bhcs	bhcs	NOUN
fsr-3734	64	8	has	have	VERB
fsr-3734	64	9	the	the	DET
fsr-3734	64	10	largest	large	ADJ
fsr-3734	64	11	concentration	concentration	NOUN
fsr-3734	64	12	in	in	ADP
fsr-3734	64	13	the	the	DET
fsr-3734	64	14	ne	ne	NOUN
fsr-3734	64	15	at	at	ADP
fsr-3734	64	16	60	60	NUM
fsr-3734	64	17	,	,	PUNCT
fsr-3734	64	18	followed	follow	VERB
fsr-3734	64	19	by	by	ADP
fsr-3734	64	20	the	the	DET
fsr-3734	64	21	c	c	PROPN
fsr-3734	64	22	with	with	ADP
fsr-3734	64	23	53	53	NUM
fsr-3734	64	24	,	,	PUNCT
fsr-3734	64	25	the	the	DET
fsr-3734	64	26	se	se	PROPN
fsr-3734	64	27	with	with	ADP
fsr-3734	64	28	45	45	NUM
fsr-3734	64	29	,	,	PUNCT
fsr-3734	64	30	the	the	DET
fsr-3734	64	31	w	w	NOUN
fsr-3734	64	32	with	with	ADP
fsr-3734	64	33	28	28	NUM
fsr-3734	64	34	,	,	PUNCT
fsr-3734	64	35	the	the	DET
fsr-3734	64	36	mw	mw	NOUN
fsr-3734	64	37	with	with	ADP
fsr-3734	64	38	14	14	NUM
fsr-3734	64	39	,	,	PUNCT
fsr-3734	64	40	and	and	CCONJ
fsr-3734	64	41	7	7	NUM
fsr-3734	64	42	bhcs	bhcs	NOUN
fsr-3734	64	43	in	in	ADP
fsr-3734	64	44	the	the	DET
fsr-3734	64	45	sw	sw	PROPN
fsr-3734	64	46	.	.	PUNCT
fsr-3734	64	47	table	table	NOUN
fsr-3734	64	48	1	1	NUM
fsr-3734	64	49	provides	provide	VERB
fsr-3734	64	50	a	a	DET
fsr-3734	64	51	summary	summary	NOUN
fsr-3734	64	52	of	of	ADP
fsr-3734	64	53	the	the	DET
fsr-3734	64	54	key	key	ADJ
fsr-3734	64	55	financial	financial	ADJ
fsr-3734	64	56	statistics	statistic	NOUN
fsr-3734	64	57	by	by	ADP
fsr-3734	64	58	region	region	NOUN
fsr-3734	64	59	.	.	PUNCT
fsr-3734	65	1	performing	perform	VERB
fsr-3734	65	2	amultiplerange	amultiplerange	NOUN
fsr-3734	65	3	test	test	NOUN
fsr-3734	65	4	,	,	PUNCT
fsr-3734	65	5	we	we	PRON
fsr-3734	65	6	attempt	attempt	VERB
fsr-3734	65	7	to	to	PART
fsr-3734	65	8	explain	explain	VERB
fsr-3734	65	9	if	if	SCONJ
fsr-3734	65	10	there	there	PRON
fsr-3734	65	11	is	be	VERB
fsr-3734	65	12	any	any	DET
fsr-3734	65	13	difference	difference	NOUN
fsr-3734	65	14	between	between	ADP
fsr-3734	65	15	the	the	DET
fsr-3734	65	16	regional	regional	ADJ
fsr-3734	65	17	means	mean	NOUN
fsr-3734	65	18	for	for	ADP
fsr-3734	65	19	these	these	DET
fsr-3734	65	20	selected	select	VERB
fsr-3734	65	21	measures	measure	NOUN
fsr-3734	65	22	.	.	PUNCT
fsr-3734	66	1	at	at	ADP
fsr-3734	66	2	a	a	DET
fsr-3734	66	3	confidence	confidence	NOUN
fsr-3734	66	4	level	level	NOUN
fsr-3734	66	5	of	of	ADP
fsr-3734	66	6	.05	.05	NUM
fsr-3734	66	7	,	,	PUNCT
fsr-3734	66	8	a	a	DET
fsr-3734	66	9	significant	significant	ADJ
fsr-3734	66	10	financial	financial	ADJ
fsr-3734	66	11	services	service	NOUN
fsr-3734	66	12	review	review	VERB
fsr-3734	66	13	4	4	NUM
fsr-3734	66	14	(	(	PUNCT
fsr-3734	66	15	1	1	NUM
fsr-3734	66	16	)	)	PUNCT
fsr-3734	66	17	1995	1995	NUM
fsr-3734	66	18	table	table	NOUN
fsr-3734	66	19	1	1	NUM
fsr-3734	66	20	mean	mean	NOUN
fsr-3734	66	21	financial	financial	ADJ
fsr-3734	66	22	statistics	statistic	NOUN
fsr-3734	66	23	by	by	ADP
fsr-3734	66	24	region	region	NOUN
fsr-3734	66	25	-	-	PUNCT
fsr-3734	66	26	december	december	PROPN
fsr-3734	66	27	3	3	NUM
fsr-3734	66	28	1	1	NUM
fsr-3734	66	29	,	,	PUNCT
fsr-3734	66	30	1989	1989	NUM
fsr-3734	66	31	variables	variable	NOUN
fsr-3734	66	32	region	region	NOUN
fsr-3734	66	33	northeast	northeast	ADV
fsr-3734	66	34	southeast	southeast	PROPN
fsr-3734	66	35	central	central	PROPN
fsr-3734	66	36	midwest	midwest	PROPN
fsr-3734	66	37	southwest	southwest	PROPN
fsr-3734	66	38	west	west	PROPN
fsr-3734	66	39	all	all	DET
fsr-3734	66	40	dividends	dividend	NOUN
fsr-3734	66	41	per	per	ADP
fsr-3734	66	42	earnings	earning	NOUN
fsr-3734	66	43	per	per	ADP
fsr-3734	66	44	dividend	dividend	NOUN
fsr-3734	66	45	market	market	NOUN
fsr-3734	66	46	price	price	NOUN
fsr-3734	66	47	per	per	ADP
fsr-3734	66	48	asset	asset	NOUN
fsr-3734	66	49	size	size	NOUN
fsr-3734	66	50	share	share	NOUN
fsr-3734	66	51	share	share	NOUN
fsr-3734	66	52	payout	payout	PROPN
fsr-3734	66	53	ratio	ratio	NOUN
fsr-3734	66	54	captial	captial	PROPN
fsr-3734	66	55	ratio	ratio	PROPN
fsr-3734	66	56	share	share	NOUN
fsr-3734	66	57	(	(	PUNCT
fsr-3734	66	58	oooooo1	oooooo1	X
fsr-3734	66	59	(	(	PUNCT
fsr-3734	66	60	dollars	dollar	NOUN
fsr-3734	66	61	)	)	PUNCT
fsr-3734	66	62	(	(	PUNCT
fsr-3734	66	63	dollars	dollar	NOUN
fsr-3734	66	64	)	)	PUNCT
fsr-3734	66	65	tw	tw	NOUN
fsr-3734	66	66	(	(	PUNCT
fsr-3734	66	67	w	w	PROPN
fsr-3734	66	68	(	(	PUNCT
fsr-3734	66	69	dollars	dollar	NOUN
fsr-3734	66	70	)	)	PUNCT
fsr-3734	66	71	19035.0	19035.0	NUM
fsr-3734	66	72	1.18	1.18	NUM
fsr-3734	66	73	1.31	1.31	NUM
fsr-3734	66	74	90.1	90.1	NUM
fsr-3734	66	75	10.236	10.236	NUM
fsr-3734	66	76	21.94	21.94	NUM
fsr-3734	66	77	8846.9	8846.9	NUM
fsr-3734	66	78	0.89	0.89	NUM
fsr-3734	66	79	2.39	2.39	NUM
fsr-3734	66	80	31.2	31.2	NUM
fsr-3734	66	81	11.032	11.032	NUM
fsr-3734	66	82	22.97	22.97	NUM
fsr-3734	66	83	6489.0	6489.0	NUM
fsr-3734	66	84	0.91	0.91	NUM
fsr-3734	66	85	2.85	2.85	NUM
fsr-3734	66	86	31.9	31.9	NUM
fsr-3734	66	87	11.825	11.825	NUM
fsr-3734	66	88	27.38	27.38	NUM
fsr-3734	66	89	6535.6	6535.6	NUM
fsr-3734	66	90	0.98	0.98	NUM
fsr-3734	66	91	2.68	2.68	NUM
fsr-3734	66	92	36.6	36.6	NUM
fsr-3734	66	93	10.358	10.358	NUM
fsr-3734	66	94	30.80	30.80	NUM
fsr-3734	66	95	5014.5	5014.5	NUM
fsr-3734	66	96	0.67	0.67	NUM
fsr-3734	66	97	1.17	1.17	NUM
fsr-3734	66	98	57.3	57.3	NUM
fsr-3734	66	99	7.397	7.397	NUM
fsr-3734	66	100	18.92	18.92	NUM
fsr-3734	66	101	13617.0	13617.0	NUM
fsr-3734	66	102	0.74	0.74	NUM
fsr-3734	66	103	2.05	2.05	NUM
fsr-3734	66	104	36.1	36.1	NUM
fsr-3734	66	105	12.627	12.627	NUM
fsr-3734	66	106	27.52	27.52	NUM
fsr-3734	66	107	11564.0	11564.0	NUM
fsr-3734	66	108	o.%	o.%	PROPN
fsr-3734	66	109	2.13	2.13	NUM
fsr-3734	66	110	45.1	45.1	NUM
fsr-3734	66	111	11.025	11.025	NUM
fsr-3734	66	112	26.67	26.67	NUM
fsr-3734	66	113	difference	difference	NOUN
fsr-3734	66	114	was	be	AUX
fsr-3734	66	115	discovered	discover	VERB
fsr-3734	66	116	between	between	ADP
fsr-3734	66	117	the	the	DET
fsr-3734	66	118	mean	mean	ADJ
fsr-3734	66	119	earnings	earning	NOUN
fsr-3734	66	120	per	per	ADP
fsr-3734	66	121	share	share	NOUN
fsr-3734	66	122	for	for	ADP
fsr-3734	66	123	bhcs	bhcs	NOUN
fsr-3734	66	124	in	in	ADP
fsr-3734	66	125	the	the	DET
fsr-3734	66	126	northeast	northeast	NOUN
fsr-3734	66	127	and	and	CCONJ
fsr-3734	66	128	the	the	DET
fsr-3734	66	129	central	central	ADJ
fsr-3734	66	130	regions	region	NOUN
fsr-3734	66	131	.	.	PUNCT
fsr-3734	67	1	additionally	additionally	ADV
fsr-3734	67	2	,	,	PUNCT
fsr-3734	67	3	dividends	dividend	NOUN
fsr-3734	67	4	per	per	ADP
fsr-3734	67	5	share	share	NOUN
fsr-3734	67	6	in	in	ADP
fsr-3734	67	7	the	the	DET
fsr-3734	67	8	northeast	northeast	NOUN
fsr-3734	67	9	are	be	AUX
fsr-3734	67	10	significantly	significantly	ADV
fsr-3734	67	11	different	different	ADJ
fsr-3734	67	12	from	from	ADP
fsr-3734	67	13	dividends	dividend	NOUN
fsr-3734	67	14	per	per	ADP
fsr-3734	67	15	share	share	NOUN
fsr-3734	67	16	in	in	ADP
fsr-3734	67	17	the	the	DET
fsr-3734	67	18	south	south	ADJ
fsr-3734	67	19	,	,	PUNCT
fsr-3734	67	20	central	central	ADJ
fsr-3734	67	21	,	,	PUNCT
fsr-3734	67	22	midwest	midwest	NOUN
fsr-3734	67	23	,	,	PUNCT
fsr-3734	67	24	and	and	CCONJ
fsr-3734	67	25	southwest	southwest	ADJ
fsr-3734	67	26	regions	region	NOUN
fsr-3734	67	27	at	at	ADP
fsr-3734	67	28	a	a	DET
fsr-3734	67	29	.0.5	.0.5	NUM
fsr-3734	67	30	level	level	NOUN
fsr-3734	67	31	of	of	ADP
fsr-3734	67	32	confidence	confidence	NOUN
fsr-3734	67	33	.	.	PUNCT
fsr-3734	68	1	finally	finally	ADV
fsr-3734	68	2	,	,	PUNCT
fsr-3734	68	3	the	the	DET
fsr-3734	68	4	market	market	NOUN
fsr-3734	68	5	value	value	NOUN
fsr-3734	68	6	capitalization	capitalization	NOUN
fsr-3734	68	7	ratio	ratio	NOUN
fsr-3734	68	8	for	for	ADP
fsr-3734	68	9	the	the	DET
fsr-3734	68	10	west	west	PROPN
fsr-3734	68	11	region	region	NOUN
fsr-3734	68	12	is	be	AUX
fsr-3734	68	13	significantly	significantly	ADV
fsr-3734	68	14	different	different	ADJ
fsr-3734	68	15	from	from	ADP
fsr-3734	68	16	the	the	DET
fsr-3734	68	17	northeast	northeast	ADJ
fsr-3734	68	18	and	and	CCONJ
fsr-3734	68	19	southwest	southwest	ADJ
fsr-3734	68	20	regions	region	NOUN
fsr-3734	68	21	;	;	PUNCT
fsr-3734	68	22	and	and	CCONJ
fsr-3734	68	23	also	also	ADV
fsr-3734	68	24	,	,	PUNCT
fsr-3734	68	25	the	the	DET
fsr-3734	68	26	southeast	southeast	ADJ
fsr-3734	68	27	and	and	CCONJ
fsr-3734	68	28	central	central	ADJ
fsr-3734	68	29	regions	region	NOUN
fsr-3734	68	30	’	'	PUNCT
fsr-3734	68	31	market	market	NOUN
fsr-3734	68	32	capitalization	capitalization	NOUN
fsr-3734	68	33	ratio	ratio	NOUN
fsr-3734	68	34	is	be	AUX
fsr-3734	68	35	significantly	significantly	ADV
fsr-3734	68	36	different	different	ADJ
fsr-3734	68	37	from	from	ADP
fsr-3734	68	38	the	the	DET
fsr-3734	68	39	southwest	southwest	NOUN
fsr-3734	68	40	.	.	PUNCT
fsr-3734	69	1	the	the	DET
fsr-3734	69	2	data	datum	NOUN
fsr-3734	69	3	in	in	ADP
fsr-3734	69	4	table	table	NOUN
fsr-3734	69	5	1	1	NUM
fsr-3734	69	6	indicate	indicate	VERB
fsr-3734	69	7	that	that	PRON
fsr-3734	69	8	bhcs	bhcs	NOUN
fsr-3734	69	9	in	in	ADP
fsr-3734	69	10	the	the	DET
fsr-3734	69	11	southwest	southwest	NOUN
fsr-3734	69	12	had	have	AUX
fsr-3734	69	13	not	not	PART
fsr-3734	69	14	recovered	recover	VERB
fsr-3734	69	15	from	from	ADP
fsr-3734	69	16	the	the	DET
fsr-3734	69	17	local	local	ADJ
fsr-3734	69	18	economic	economic	ADJ
fsr-3734	69	19	shocks	shock	NOUN
fsr-3734	69	20	of	of	ADP
fsr-3734	69	21	the	the	DET
fsr-3734	69	22	mid	mid	ADJ
fsr-3734	69	23	1980s	1980	NOUN
fsr-3734	69	24	;	;	PUNCT
fsr-3734	69	25	the	the	DET
fsr-3734	69	26	data	datum	NOUN
fsr-3734	69	27	further	far	ADV
fsr-3734	69	28	provide	provide	VERB
fsr-3734	69	29	early	early	ADJ
fsr-3734	69	30	evidence	evidence	NOUN
fsr-3734	69	31	of	of	ADP
fsr-3734	69	32	the	the	DET
fsr-3734	69	33	weakening	weaken	VERB
fsr-3734	69	34	real	real	ADJ
fsr-3734	69	35	estate	estate	NOUN
fsr-3734	69	36	markets	market	NOUN
fsr-3734	69	37	impact	impact	NOUN
fsr-3734	69	38	on	on	ADP
fsr-3734	69	39	bhcs	bhcs	NOUN
fsr-3734	69	40	in	in	ADP
fsr-3734	69	41	the	the	DET
fsr-3734	69	42	northeast	northeast	NOUN
fsr-3734	69	43	.	.	PUNCT
fsr-3734	70	1	additionally	additionally	ADV
fsr-3734	70	2	,	,	PUNCT
fsr-3734	70	3	bhcs	bhcs	NOUN
fsr-3734	70	4	in	in	ADP
fsr-3734	70	5	both	both	DET
fsr-3734	70	6	regions	region	NOUN
fsr-3734	70	7	possess	possess	VERB
fsr-3734	70	8	higher	high	ADJ
fsr-3734	70	9	dividend	dividend	NOUN
fsr-3734	70	10	payout	payout	NOUN
fsr-3734	70	11	ratios	ratio	NOUN
fsr-3734	70	12	than	than	ADP
fsr-3734	70	13	the	the	DET
fsr-3734	70	14	industry	industry	NOUN
fsr-3734	70	15	norm	norm	NOUN
fsr-3734	70	16	.	.	PUNCT
fsr-3734	71	1	this	this	DET
fsr-3734	71	2	higher	high	ADJ
fsr-3734	71	3	dividend	dividend	NOUN
fsr-3734	71	4	payout	payout	NOUN
fsr-3734	71	5	ratio	ratio	NOUN
fsr-3734	71	6	may	may	AUX
fsr-3734	71	7	account	account	VERB
fsr-3734	71	8	for	for	ADP
fsr-3734	71	9	the	the	DET
fsr-3734	71	10	lower	low	ADJ
fsr-3734	71	11	market	market	NOUN
fsr-3734	71	12	value	value	NOUN
fsr-3734	71	13	capitalization	capitalization	NOUN
fsr-3734	71	14	position	position	NOUN
fsr-3734	71	15	for	for	ADP
fsr-3734	71	16	depository	depository	NOUN
fsr-3734	71	17	institutions	institution	NOUN
fsr-3734	71	18	in	in	ADP
fsr-3734	71	19	those	those	DET
fsr-3734	71	20	regions	region	NOUN
fsr-3734	71	21	,	,	PUNCT
fsr-3734	71	22	and	and	CCONJ
fsr-3734	71	23	it	it	PRON
fsr-3734	71	24	provides	provide	VERB
fsr-3734	71	25	initial	initial	ADJ
fsr-3734	71	26	support	support	NOUN
fsr-3734	71	27	for	for	ADP
fsr-3734	71	28	the	the	DET
fsr-3734	71	29	hypothesis	hypothesis	NOUN
fsr-3734	71	30	.	.	PUNCT
fsr-3734	72	1	additionally	additionally	ADV
fsr-3734	72	2	,	,	PUNCT
fsr-3734	72	3	it	it	PRON
fsr-3734	72	4	is	be	AUX
fsr-3734	72	5	possible	possible	ADJ
fsr-3734	72	6	that	that	SCONJ
fsr-3734	72	7	management	management	NOUN
fsr-3734	72	8	was	be	AUX
fsr-3734	72	9	reluctant	reluctant	ADJ
fsr-3734	72	10	to	to	PART
fsr-3734	72	11	reduce	reduce	VERB
fsr-3734	72	12	dividends	dividend	NOUN
fsr-3734	72	13	(	(	PUNCT
fsr-3734	72	14	in	in	ADP
fsr-3734	72	15	the	the	DET
fsr-3734	72	16	face	face	NOUN
fsr-3734	72	17	of	of	ADP
fsr-3734	72	18	lower	low	ADJ
fsr-3734	72	19	earnings	earning	NOUN
fsr-3734	72	20	per	per	ADP
fsr-3734	72	21	share	share	NOUN
fsr-3734	72	22	)	)	PUNCT
fsr-3734	72	23	because	because	SCONJ
fsr-3734	72	24	of	of	ADP
fsr-3734	72	25	the	the	DET
fsr-3734	72	26	negative	negative	ADJ
fsr-3734	72	27	effects	effect	NOUN
fsr-3734	72	28	of	of	ADP
fsr-3734	72	29	signaling	signal	VERB
fsr-3734	72	30	.	.	PUNCT
fsr-3734	73	1	this	this	DET
fsr-3734	73	2	study	study	NOUN
fsr-3734	73	3	utilizes	utilize	VERB
fsr-3734	73	4	the	the	DET
fsr-3734	73	5	sheshunoff	sheshunoff	NOUN
fsr-3734	73	6	s	s	PART
fsr-3734	73	7	presidential	presidential	ADJ
fsr-3734	73	8	rating	rating	NOUN
fsr-3734	73	9	as	as	ADP
fsr-3734	73	10	the	the	DET
fsr-3734	73	11	measure	measure	NOUN
fsr-3734	73	12	of	of	ADP
fsr-3734	73	13	bank	bank	NOUN
fsr-3734	73	14	quality	quality	NOUN
fsr-3734	73	15	.	.	PUNCT
fsr-3734	74	1	the	the	DET
fsr-3734	74	2	presidential	presidential	ADJ
fsr-3734	74	3	rating	rating	NOUN
fsr-3734	74	4	is	be	AUX
fsr-3734	74	5	a	a	DET
fsr-3734	74	6	weighted	weight	VERB
fsr-3734	74	7	ordinal	ordinal	ADJ
fsr-3734	74	8	composite	composite	ADJ
fsr-3734	74	9	cabl	cabl	NOUN
fsr-3734	74	10	(	(	PUNCT
fsr-3734	74	11	capital	capital	NOUN
fsr-3734	74	12	,	,	PUNCT
fsr-3734	74	13	asset	asset	NOUN
fsr-3734	74	14	,	,	PUNCT
fsr-3734	74	15	earnings	earning	NOUN
fsr-3734	74	16	,	,	PUNCT
fsr-3734	74	17	liquidity	liquidity	NOUN
fsr-3734	74	18	)	)	PUNCT
fsr-3734	74	19	percentile	percentile	NOUN
fsr-3734	74	20	ranking	ranking	NOUN
fsr-3734	74	21	of	of	ADP
fsr-3734	74	22	institutions	institution	NOUN
fsr-3734	74	23	within	within	ADP
fsr-3734	74	24	a	a	DET
fsr-3734	74	25	peer	peer	NOUN
fsr-3734	74	26	group	group	NOUN
fsr-3734	74	27	.	.	PUNCT
fsr-3734	75	1	these	these	DET
fsr-3734	75	2	percentile	percentile	ADJ
fsr-3734	75	3	rankings	ranking	NOUN
fsr-3734	75	4	are	be	AUX
fsr-3734	75	5	then	then	ADV
fsr-3734	75	6	converted	convert	VERB
fsr-3734	75	7	into	into	ADP
fsr-3734	75	8	a	a	DET
fsr-3734	75	9	letter	letter	NOUN
fsr-3734	75	10	grade	grade	NOUN
fsr-3734	75	11	rating	rating	NOUN
fsr-3734	75	12	.	.	PUNCT
fsr-3734	76	1	the	the	DET
fsr-3734	76	2	transformation	transformation	NOUN
fsr-3734	76	3	of	of	ADP
fsr-3734	76	4	the	the	DET
fsr-3734	76	5	data	datum	NOUN
fsr-3734	76	6	to	to	ADP
fsr-3734	76	7	an	an	DET
fsr-3734	76	8	ordinal	ordinal	ADJ
fsr-3734	76	9	measure	measure	NOUN
fsr-3734	76	10	limits	limit	VERB
fsr-3734	76	11	any	any	DET
fsr-3734	76	12	potential	potential	ADJ
fsr-3734	76	13	problems	problem	NOUN
fsr-3734	76	14	of	of	ADP
fsr-3734	76	15	collinearity	collinearity	NOUN
fsr-3734	76	16	with	with	ADP
fsr-3734	76	17	explanatory	explanatory	ADJ
fsr-3734	76	18	variables	variable	NOUN
fsr-3734	76	19	.	.	PUNCT
fsr-3734	77	1	the	the	DET
fsr-3734	77	2	letter	letter	NOUN
fsr-3734	77	3	grades	grade	NOUN
fsr-3734	77	4	are	be	AUX
fsr-3734	77	5	a+	a+	NOUN
fsr-3734	77	6	,	,	PUNCT
fsr-3734	77	7	a	a	DET
fsr-3734	77	8	,	,	PUNCT
fsr-3734	77	9	b+	b+	X
fsr-3734	77	10	,	,	PUNCT
fsr-3734	77	11	b	b	NOUN
fsr-3734	77	12	,	,	PUNCT
fsr-3734	77	13	c+	c+	ADJ
fsr-3734	77	14	,	,	PUNCT
fsr-3734	77	15	c	c	NOUN
fsr-3734	77	16	,	,	PUNCT
fsr-3734	77	17	and	and	CCONJ
fsr-3734	77	18	not	not	PART
fsr-3734	77	19	rated	rate	VERB
fsr-3734	77	20	(	(	PUNCT
fsr-3734	77	21	nr	nr	NOUN
fsr-3734	77	22	)	)	PUNCT
fsr-3734	77	23	.	.	PUNCT
fsr-3734	78	1	so	so	ADV
fsr-3734	78	2	,	,	PUNCT
fsr-3734	78	3	sheshunoff	sheshunoff	PROPN
fsr-3734	78	4	s	s	PART
fsr-3734	78	5	rating	rating	NOUN
fsr-3734	78	6	provides	provide	VERB
fsr-3734	78	7	a	a	DET
fsr-3734	78	8	ranked	rank	VERB
fsr-3734	78	9	ordering	ordering	NOUN
fsr-3734	78	10	of	of	ADP
fsr-3734	78	11	publicly	publicly	ADV
fsr-3734	78	12	traded	trade	VERB
fsr-3734	78	13	financial	financial	ADJ
fsr-3734	78	14	institutions	institution	NOUN
fsr-3734	78	15	.	.	PUNCT
fsr-3734	79	1	table	table	NOUN
fsr-3734	79	2	2	2	NUM
fsr-3734	79	3	reports	report	VERB
fsr-3734	79	4	the	the	DET
fsr-3734	79	5	distribution	distribution	NOUN
fsr-3734	79	6	of	of	ADP
fsr-3734	79	7	bhcs	bhcs	NOUN
fsr-3734	79	8	used	use	VERB
fsr-3734	79	9	in	in	ADP
fsr-3734	79	10	this	this	DET
fsr-3734	79	11	study	study	NOUN
fsr-3734	79	12	by	by	ADP
fsr-3734	79	13	letter	letter	NOUN
fsr-3734	79	14	grade	grade	NOUN
fsr-3734	79	15	.	.	PUNCT
fsr-3734	80	1	to	to	PART
fsr-3734	80	2	test	test	VERB
fsr-3734	80	3	if	if	SCONJ
fsr-3734	80	4	the	the	DET
fsr-3734	80	5	sheshunoff	sheshunoff	ADJ
fsr-3734	80	6	presidential	presidential	ADJ
fsr-3734	80	7	percentile	percentile	ADJ
fsr-3734	80	8	rating	rating	NOUN
fsr-3734	80	9	provides	provide	VERB
fsr-3734	80	10	a	a	DET
fsr-3734	80	11	consistent	consistent	ADJ
fsr-3734	80	12	measure	measure	NOUN
fsr-3734	80	13	of	of	ADP
fsr-3734	80	14	bank	bank	NOUN
fsr-3734	80	15	quality	quality	NOUN
fsr-3734	80	16	,	,	PUNCT
fsr-3734	80	17	a	a	DET
fsr-3734	80	18	comparison	comparison	NOUN
fsr-3734	80	19	was	be	AUX
fsr-3734	80	20	made	make	VERB
fsr-3734	80	21	between	between	ADP
fsr-3734	80	22	the	the	DET
fsr-3734	80	23	market	market	NOUN
fsr-3734	80	24	value	value	NOUN
fsr-3734	80	25	capital	capital	NOUN
fsr-3734	80	26	-	-	PUNCT
fsr-3734	80	27	to	to	ADP
fsr-3734	80	28	-	-	PUNCT
fsr-3734	80	29	asset	asset	NOUN
fsr-3734	80	30	ratio	ratio	NOUN
fsr-3734	80	31	(	(	PUNCT
fsr-3734	80	32	which	which	PRON
fsr-3734	80	33	was	be	AUX
fsr-3734	80	34	calculated	calculate	VERB
fsr-3734	80	35	by	by	ADP
fsr-3734	80	36	multiplying	multiply	VERB
fsr-3734	80	37	the	the	DET
fsr-3734	80	38	market	market	NOUN
fsr-3734	80	39	to	to	ADP
fsr-3734	80	40	book	book	NOUN
fsr-3734	80	41	value	value	NOUN
fsr-3734	80	42	ratio	ratio	NOUN
fsr-3734	80	43	by	by	ADP
fsr-3734	80	44	the	the	DET
fsr-3734	80	45	capital	capital	NOUN
fsr-3734	80	46	to	to	ADP
fsr-3734	80	47	asset	asset	NOUN
fsr-3734	80	48	ratio	ratio	NOUN
fsr-3734	80	49	)	)	PUNCT
fsr-3734	80	50	and	and	CCONJ
fsr-3734	80	51	the	the	DET
fsr-3734	80	52	sheshunoff	sheshunoff	ADJ
fsr-3734	80	53	percentile	percentile	ADJ
fsr-3734	80	54	rating	rating	NOUN
fsr-3734	80	55	.	.	PUNCT
fsr-3734	81	1	it	it	PRON
fsr-3734	81	2	is	be	AUX
fsr-3734	81	3	contended	contend	VERB
fsr-3734	81	4	that	that	SCONJ
fsr-3734	81	5	as	as	ADP
fsr-3734	81	6	the	the	DET
fsr-3734	81	7	market	market	NOUN
fsr-3734	81	8	value	value	NOUN
fsr-3734	81	9	capitalization	capitalization	NOUN
fsr-3734	81	10	ratio	ratio	NOUN
fsr-3734	81	11	increases	increase	NOUN
fsr-3734	81	12	,	,	PUNCT
fsr-3734	81	13	the	the	DET
fsr-3734	81	14	bank	bank	NOUN
fsr-3734	81	15	becomes	become	VERB
fsr-3734	81	16	more	more	ADV
fsr-3734	81	17	sound	sound	ADJ
fsr-3734	81	18	.	.	PUNCT
fsr-3734	82	1	to	to	PART
fsr-3734	82	2	test	test	VERB
fsr-3734	82	3	this	this	DET
fsr-3734	82	4	notion	notion	NOUN
fsr-3734	82	5	,	,	PUNCT
fsr-3734	82	6	a	a	DET
fsr-3734	82	7	spearman	spearman	NOUN
fsr-3734	82	8	rank	rank	NOUN
fsr-3734	82	9	correlation	correlation	NOUN
fsr-3734	82	10	analysis	analysis	NOUN
fsr-3734	82	11	was	be	AUX
fsr-3734	82	12	performed	perform	VERB
fsr-3734	82	13	.	.	PUNCT
fsr-3734	83	1	the	the	DET
fsr-3734	83	2	correlation	correlation	NOUN
fsr-3734	83	3	coefficient	coefficient	NOUN
fsr-3734	83	4	between	between	ADP
fsr-3734	83	5	the	the	DET
fsr-3734	83	6	two	two	NUM
fsr-3734	83	7	variables	variable	NOUN
fsr-3734	83	8	was	be	AUX
fsr-3734	83	9	found	find	VERB
fsr-3734	83	10	to	to	PART
fsr-3734	83	11	be	be	AUX
fsr-3734	83	12	.6422	.6422	PROPN
fsr-3734	83	13	,	,	PUNCT
fsr-3734	83	14	which	which	PRON
fsr-3734	83	15	is	be	AUX
fsr-3734	83	16	significant	significant	ADJ
fsr-3734	83	17	at	at	ADP
fsr-3734	83	18	a	a	DET
fsr-3734	83	19	.ool	.ool	NOUN
fsr-3734	83	20	level	level	NOUN
fsr-3734	83	21	of	of	ADP
fsr-3734	83	22	confidence	confidence	NOUN
fsr-3734	83	23	.	.	PUNCT
fsr-3734	84	1	this	this	PRON
fsr-3734	84	2	indicates	indicate	VERB
fsr-3734	84	3	a	a	DET
fsr-3734	84	4	strong	strong	ADJ
fsr-3734	84	5	positive	positive	ADJ
fsr-3734	84	6	association	association	NOUN
fsr-3734	84	7	between	between	ADP
fsr-3734	84	8	these	these	DET
fsr-3734	84	9	two	two	NUM
fsr-3734	84	10	variables	variable	NOUN
fsr-3734	84	11	,	,	PUNCT
fsr-3734	84	12	which	which	PRON
fsr-3734	84	13	are	be	AUX
fsr-3734	84	14	both	both	PRON
fsr-3734	84	15	used	use	VERB
fsr-3734	84	16	to	to	PART
fsr-3734	84	17	measure	measure	VERB
fsr-3734	84	18	bank	bank	NOUN
fsr-3734	84	19	soundness	soundness	NOUN
fsr-3734	84	20	.	.	PUNCT
fsr-3734	85	1	so	so	ADV
fsr-3734	85	2	,	,	PUNCT
fsr-3734	85	3	the	the	DET
fsr-3734	85	4	maximization	maximization	NOUN
fsr-3734	85	5	of	of	ADP
fsr-3734	85	6	quality	quality	NOUN
fsr-3734	85	7	should	should	AUX
fsr-3734	85	8	be	be	AUX
fsr-3734	85	9	consistent	consistent	ADJ
fsr-3734	85	10	with	with	ADP
fsr-3734	85	11	the	the	DET
fsr-3734	85	12	goal	goal	NOUN
fsr-3734	85	13	of	of	ADP
fsr-3734	85	14	maximizing	maximize	VERB
fsr-3734	85	15	shareholder	shareholder	NOUN
fsr-3734	85	16	wealth	wealth	NOUN
fsr-3734	85	17	.	.	PUNCT
fsr-3734	86	1	bank	bank	NOUN
fsr-3734	86	2	dividend	dividend	NOUN
fsr-3734	86	3	policy	policy	NOUN
fsr-3734	86	4	us	we	PRON
fsr-3734	86	5	a	a	DET
fsr-3734	86	6	signal	signal	NOUN
fsr-3734	86	7	of	of	ADP
fsr-3734	86	8	bank	bank	NOUN
fsr-3734	86	9	quality	quality	NOUN
fsr-3734	86	10	table	table	NOUN
fsr-3734	86	11	2	2	NUM
fsr-3734	86	12	the	the	DET
fsr-3734	86	13	distribution	distribution	NOUN
fsr-3734	86	14	of	of	ADP
fsr-3734	86	15	bank	bank	NOUN
fsr-3734	86	16	holding	hold	VERB
fsr-3734	86	17	companies	company	NOUN
fsr-3734	86	18	by	by	ADP
fsr-3734	86	19	letter	letter	NOUN
fsr-3734	86	20	grade	grade	NOUN
fsr-3734	86	21	rating	rating	NOUN
fsr-3734	86	22	rating	rating	NOUN
fsr-3734	86	23	built	build	VERB
fsr-3734	86	24	of	of	ADP
fsr-3734	86	25	bhcs	bhcs	NOUN
fsr-3734	86	26	a+	a+	PUNCT
fsr-3734	86	27	26	26	NUM
fsr-3734	86	28	a	a	DET
fsr-3734	86	29	54	54	NUM
fsr-3734	86	30	b+	b+	ADP
fsr-3734	86	31	52	52	NUM
fsr-3734	86	32	b	b	NOUN
fsr-3734	86	33	39	39	NUM
fsr-3734	86	34	ci	ci	NOUN
fsr-3734	86	35	17	17	NUM
fsr-3734	86	36	c	c	NOUN
fsr-3734	86	37	12	12	NUM
fsr-3734	86	38	nr	nr	NOUN
fsr-3734	86	39	7	7	NUM
fsr-3734	86	40	iv	iv	NUM
fsr-3734	86	41	.	.	PUNCT
fsr-3734	86	42	empiricalresults	empiricalresult	NOUN
fsr-3734	86	43	the	the	DET
fsr-3734	86	44	following	follow	VERB
fsr-3734	86	45	empirical	empirical	ADJ
fsr-3734	86	46	analysis	analysis	NOUN
fsr-3734	86	47	differs	differ	VERB
fsr-3734	86	48	from	from	ADP
fsr-3734	86	49	most	most	ADJ
fsr-3734	86	50	studies	study	NOUN
fsr-3734	86	51	concerning	concern	VERB
fsr-3734	86	52	the	the	DET
fsr-3734	86	53	info	info	NOUN
fsr-3734	86	54	~	~	SYM
fsr-3734	86	55	ation~	ation~	PROPN
fsr-3734	86	56	content	content	NOUN
fsr-3734	86	57	of	of	ADP
fsr-3734	86	58	a	a	DET
fsr-3734	86	59	bank	bank	NOUN
fsr-3734	86	60	’s	’s	PART
fsr-3734	86	61	dividend	dividend	NOUN
fsr-3734	86	62	policy	policy	NOUN
fsr-3734	86	63	in	in	ADP
fsr-3734	86	64	three	three	NUM
fsr-3734	86	65	aspects	aspect	NOUN
fsr-3734	86	66	.	.	PUNCT
fsr-3734	87	1	first	first	ADV
fsr-3734	87	2	,	,	PUNCT
fsr-3734	87	3	the	the	DET
fsr-3734	87	4	data	data	NOUN
fsr-3734	87	5	is	be	AUX
fsr-3734	87	6	cross	cross	ADJ
fsr-3734	87	7	-	-	ADJ
fsr-3734	87	8	sectiona	sectiona	ADJ
fsr-3734	87	9	rather	rather	ADV
fsr-3734	87	10	than	than	ADP
fsr-3734	87	11	longitudinal	longitudinal	ADJ
fsr-3734	87	12	.	.	PUNCT
fsr-3734	88	1	second	second	ADJ
fsr-3734	88	2	,	,	PUNCT
fsr-3734	88	3	instead	instead	ADV
fsr-3734	88	4	of	of	ADP
fsr-3734	88	5	treating	treat	VERB
fsr-3734	88	6	stock	stock	NOUN
fsr-3734	88	7	prices	price	NOUN
fsr-3734	88	8	as	as	ADP
fsr-3734	88	9	the	the	DET
fsr-3734	88	10	dependent	dependent	ADJ
fsr-3734	88	11	variable	variable	NOUN
fsr-3734	88	12	,	,	PUNCT
fsr-3734	88	13	the	the	DET
fsr-3734	88	14	dependent	dependent	ADJ
fsr-3734	88	15	variable	variable	NOUN
fsr-3734	88	16	is	be	AUX
fsr-3734	88	17	the	the	DET
fsr-3734	88	18	ordered	order	VERB
fsr-3734	88	19	ranking	ranking	NOUN
fsr-3734	88	20	generated	generate	VERB
fsr-3734	88	21	by	by	ADP
fsr-3734	88	22	sheshunoff	sheshunoff	NOUN
fsr-3734	88	23	.	.	PUNCT
fsr-3734	89	1	third	third	ADV
fsr-3734	89	2	,	,	PUNCT
fsr-3734	89	3	this	this	DET
fsr-3734	89	4	analysis	analysis	NOUN
fsr-3734	89	5	is	be	AUX
fsr-3734	89	6	not	not	PART
fsr-3734	89	7	an	an	DET
fsr-3734	89	8	event	event	NOUN
fsr-3734	89	9	study	study	NOUN
fsr-3734	89	10	which	which	PRON
fsr-3734	89	11	examines	examine	VERB
fsr-3734	89	12	the	the	DET
fsr-3734	89	13	reaction	reaction	NOUN
fsr-3734	89	14	of	of	ADP
fsr-3734	89	15	stock	stock	NOUN
fsr-3734	89	16	prices	price	NOUN
fsr-3734	89	17	to	to	ADP
fsr-3734	89	18	changes	change	NOUN
fsr-3734	89	19	in	in	ADP
fsr-3734	89	20	dividend	dividend	NOUN
fsr-3734	89	21	policy	policy	NOUN
fsr-3734	89	22	.	.	PUNCT
fsr-3734	90	1	in	in	ADP
fsr-3734	90	2	this	this	DET
fsr-3734	90	3	study	study	NOUN
fsr-3734	90	4	,	,	PUNCT
fsr-3734	90	5	the	the	DET
fsr-3734	90	6	key	key	ADJ
fsr-3734	90	7	explanatory	explanatory	ADJ
fsr-3734	90	8	variable	variable	NOUN
fsr-3734	90	9	is	be	AUX
fsr-3734	90	10	dividend	dividend	NOUN
fsr-3734	90	11	policy	policy	NOUN
fsr-3734	90	12	-	-	PUNCT
fsr-3734	90	13	that	that	ADV
fsr-3734	90	14	is	be	AUX
fsr-3734	90	15	,	,	PUNCT
fsr-3734	90	16	dividends	dividend	NOUN
fsr-3734	90	17	per	per	ADP
fsr-3734	90	18	share	share	NOUN
fsr-3734	90	19	(	(	PUNCT
fsr-3734	90	20	d	d	NOUN
fsr-3734	90	21	)	)	PUNCT
fsr-3734	90	22	and	and	CCONJ
fsr-3734	90	23	dividends	dividend	NOUN
fsr-3734	90	24	paid	pay	VERB
fsr-3734	90	25	as	as	ADP
fsr-3734	90	26	a	a	DET
fsr-3734	90	27	percent	percent	NOUN
fsr-3734	90	28	of	of	ADP
fsr-3734	90	29	earnings	earning	NOUN
fsr-3734	90	30	(	(	PUNCT
fsr-3734	90	31	dout	dout	PROPN
fsr-3734	90	32	)	)	PUNCT
fsr-3734	90	33	.	.	PUNCT
fsr-3734	91	1	the	the	DET
fsr-3734	91	2	signaling	signal	VERB
fsr-3734	91	3	~gu	~gu	NOUN
fsr-3734	91	4	~	~	AUX
fsr-3734	91	5	nt	not	PART
fsr-3734	91	6	indicates	indicate	VERB
fsr-3734	91	7	that	that	SCONJ
fsr-3734	91	8	dividends	dividend	NOUN
fsr-3734	91	9	should	should	AUX
fsr-3734	91	10	provide	provide	VERB
fsr-3734	91	11	the	the	DET
fsr-3734	91	12	relevant	relevant	ADJ
fsr-3734	91	13	information	information	NOUN
fsr-3734	91	14	about	about	ADP
fsr-3734	91	15	the	the	DET
fsr-3734	91	16	future	future	ADJ
fsr-3734	91	17	earnings	earning	NOUN
fsr-3734	91	18	of	of	ADP
fsr-3734	91	19	the	the	DET
fsr-3734	91	20	bank	bank	NOUN
fsr-3734	91	21	and	and	CCONJ
fsr-3734	91	22	hence	hence	ADV
fsr-3734	91	23	,	,	PUNCT
fsr-3734	91	24	the	the	DET
fsr-3734	91	25	quality	quality	NOUN
fsr-3734	91	26	of	of	ADP
fsr-3734	91	27	the	the	DET
fsr-3734	91	28	bank	bank	NOUN
fsr-3734	91	29	.	.	PUNCT
fsr-3734	92	1	so	so	ADV
fsr-3734	92	2	,	,	PUNCT
fsr-3734	92	3	one	one	PRON
fsr-3734	92	4	would	would	AUX
fsr-3734	92	5	hypothesize	hypothesize	VERB
fsr-3734	92	6	a	a	DET
fsr-3734	92	7	positive	positive	ADJ
fsr-3734	92	8	relationship	relationship	NOUN
fsr-3734	92	9	between	between	ADP
fsr-3734	92	10	dividends	dividend	NOUN
fsr-3734	92	11	per	per	ADP
fsr-3734	92	12	share	share	NOUN
fsr-3734	92	13	(	(	PUNCT
fsr-3734	92	14	d	d	NOUN
fsr-3734	92	15	)	)	PUNCT
fsr-3734	92	16	and	and	CCONJ
fsr-3734	92	17	quality	quality	NOUN
fsr-3734	92	18	(	(	PUNCT
fsr-3734	92	19	i.e.	i.e.	X
fsr-3734	92	20	,	,	PUNCT
fsr-3734	92	21	sheshunoff	sheshunoff	NOUN
fsr-3734	92	22	rating	rating	NOUN
fsr-3734	92	23	)	)	PUNCT
fsr-3734	92	24	.	.	PUNCT
fsr-3734	93	1	in	in	ADP
fsr-3734	93	2	addition	addition	NOUN
fsr-3734	93	3	,	,	PUNCT
fsr-3734	93	4	dividends	dividend	NOUN
fsr-3734	93	5	paid	pay	VERB
fsr-3734	93	6	as	as	ADP
fsr-3734	93	7	a	a	DET
fsr-3734	93	8	percent	percent	NOUN
fsr-3734	93	9	of	of	ADP
fsr-3734	93	10	earnings	earning	NOUN
fsr-3734	93	11	should	should	AUX
fsr-3734	93	12	provide	provide	VERB
fsr-3734	93	13	information	information	NOUN
fsr-3734	93	14	about	about	ADP
fsr-3734	93	15	the	the	DET
fsr-3734	93	16	level	level	NOUN
fsr-3734	93	17	of	of	ADP
fsr-3734	93	18	bank	bank	NOUN
fsr-3734	93	19	capital	capital	NOUN
fsr-3734	93	20	and	and	CCONJ
fsr-3734	93	21	,	,	PUNCT
fsr-3734	93	22	thereby	thereby	ADV
fsr-3734	93	23	,	,	PUNCT
fsr-3734	93	24	the	the	DET
fsr-3734	93	25	safety	safety	NOUN
fsr-3734	93	26	and	and	CCONJ
fsr-3734	93	27	the	the	DET
fsr-3734	93	28	soundness	soundness	NOUN
fsr-3734	93	29	of	of	ADP
fsr-3734	93	30	the	the	DET
fsr-3734	93	31	institution	institution	NOUN
fsr-3734	93	32	.	.	PUNCT
fsr-3734	94	1	given	give	VERB
fsr-3734	94	2	the	the	DET
fsr-3734	94	3	low	low	ADJ
fsr-3734	94	4	levels	level	NOUN
fsr-3734	94	5	of	of	ADP
fsr-3734	94	6	capitalization	capitalization	NOUN
fsr-3734	94	7	in	in	ADP
fsr-3734	94	8	the	the	DET
fsr-3734	94	9	banking	banking	NOUN
fsr-3734	94	10	industry	industry	NOUN
fsr-3734	94	11	as	as	SCONJ
fsr-3734	94	12	compared	compare	VERB
fsr-3734	94	13	to	to	ADP
fsr-3734	94	14	other	other	ADJ
fsr-3734	94	15	industries	industry	NOUN
fsr-3734	94	16	,	,	PUNCT
fsr-3734	94	17	there	there	PRON
fsr-3734	94	18	should	should	AUX
fsr-3734	94	19	actually	actually	ADV
fsr-3734	94	20	be	be	AUX
fsr-3734	94	21	a	a	DET
fsr-3734	94	22	negative	negative	ADJ
fsr-3734	94	23	relationship	relationship	NOUN
fsr-3734	94	24	between	between	ADP
fsr-3734	94	25	dividend	dividend	NOUN
fsr-3734	94	26	payout	payout	NOUN
fsr-3734	94	27	and	and	CCONJ
fsr-3734	94	28	bank	bank	NOUN
fsr-3734	94	29	rating	rating	NOUN
fsr-3734	94	30	,	,	PUNCT
fsr-3734	94	31	ceteris	ceteris	NOUN
fsr-3734	94	32	paribus	paribus	NOUN
fsr-3734	94	33	.	.	PUNCT
fsr-3734	95	1	the	the	PRON
fsr-3734	95	2	larger	large	ADJ
fsr-3734	95	3	the	the	DET
fsr-3734	95	4	dividend	dividend	NOUN
fsr-3734	95	5	payout	payout	NOUN
fsr-3734	95	6	ratio	ratio	NOUN
fsr-3734	95	7	,	,	PUNCT
fsr-3734	95	8	the	the	DET
fsr-3734	95	9	more	more	ADV
fsr-3734	95	10	reliant	reliant	ADJ
fsr-3734	95	11	is	be	AUX
fsr-3734	95	12	a	a	DET
fsr-3734	95	13	bhc	bhc	NOUN
fsr-3734	95	14	upon	upon	SCONJ
fsr-3734	95	15	using	use	VERB
fsr-3734	95	16	external	external	ADJ
fsr-3734	95	17	liability	liability	NOUN
fsr-3734	95	18	financing	financing	NOUN
fsr-3734	95	19	to	to	PART
fsr-3734	95	20	generate	generate	VERB
fsr-3734	95	21	income	income	NOUN
fsr-3734	95	22	earning	earn	VERB
fsr-3734	95	23	assets	asset	NOUN
fsr-3734	95	24	.	.	PUNCT
fsr-3734	96	1	this	this	PRON
fsr-3734	96	2	indicates	indicate	VERB
fsr-3734	96	3	that	that	SCONJ
fsr-3734	96	4	less	less	ADJ
fsr-3734	96	5	capital	capital	NOUN
fsr-3734	96	6	is	be	AUX
fsr-3734	96	7	available	available	ADJ
fsr-3734	96	8	to	to	PART
fsr-3734	96	9	support	support	VERB
fsr-3734	96	10	any	any	DET
fsr-3734	96	11	given	give	VERB
fsr-3734	96	12	level	level	NOUN
fsr-3734	96	13	of	of	ADP
fsr-3734	96	14	assets	asset	NOUN
fsr-3734	96	15	and	and	CCONJ
fsr-3734	96	16	,	,	PUNCT
fsr-3734	96	17	thus	thus	ADV
fsr-3734	96	18	,	,	PUNCT
fsr-3734	96	19	greater	great	ADJ
fsr-3734	96	20	risk	risk	NOUN
fsr-3734	96	21	.	.	PUNCT
fsr-3734	97	1	since	since	SCONJ
fsr-3734	97	2	the	the	DET
fsr-3734	97	3	dependent	dependent	ADJ
fsr-3734	97	4	variabie	variabie	NOUN
fsr-3734	97	5	is	be	AUX
fsr-3734	97	6	ordinal	ordinal	ADJ
fsr-3734	97	7	,	,	PUNCT
fsr-3734	97	8	the	the	DET
fsr-3734	97	9	empirical	empirical	ADJ
fsr-3734	97	10	procedure	procedure	NOUN
fsr-3734	97	11	used	use	VERB
fsr-3734	97	12	in	in	ADP
fsr-3734	97	13	this	this	DET
fsr-3734	97	14	study	study	NOUN
fsr-3734	97	15	is	be	AUX
fsr-3734	97	16	an	an	DET
fsr-3734	97	17	ordered	order	VERB
fsr-3734	97	18	probit	probit	NOUN
fsr-3734	97	19	response	response	NOUN
fsr-3734	97	20	model	model	NOUN
fsr-3734	97	21	,	,	PUNCT
fsr-3734	97	22	y	y	PROPN
fsr-3734	97	23	=	=	SYM
fsr-3734	97	24	px+	px+	PROPN
fsr-3734	97	25	&	&	CCONJ
fsr-3734	97	26	y	y	PROPN
fsr-3734	97	27	is	be	AUX
fsr-3734	97	28	the	the	DET
fsr-3734	97	29	response	response	NOUN
fsr-3734	97	30	variable	variable	NOUN
fsr-3734	97	31	,	,	PUNCT
fsr-3734	97	32	x	x	X
fsr-3734	97	33	is	be	AUX
fsr-3734	97	34	a	a	DET
fsr-3734	97	35	vector	vector	NOUN
fsr-3734	97	36	of	of	ADP
fsr-3734	97	37	explanatory	explanatory	ADJ
fsr-3734	97	38	variables	variable	NOUN
fsr-3734	97	39	,	,	PUNCT
fsr-3734	97	40	and	and	CCONJ
fsr-3734	97	41	e	e	NOUN
fsr-3734	97	42	is	be	AUX
fsr-3734	97	43	the	the	DET
fsr-3734	97	44	residual	residual	ADJ
fsr-3734	97	45	.	.	PUNCT
fsr-3734	98	1	the	the	DET
fsr-3734	98	2	residual	residual	ADJ
fsr-3734	98	3	,	,	PUNCT
fsr-3734	98	4	e	e	NOUN
fsr-3734	98	5	,	,	PUNCT
fsr-3734	98	6	is	be	AUX
fsr-3734	98	7	distributed	distribute	VERB
fsr-3734	98	8	with	with	ADP
fsr-3734	98	9	a	a	DET
fsr-3734	98	10	mean	mean	NOUN
fsr-3734	98	11	of	of	ADP
fsr-3734	98	12	zero	zero	NUM
fsr-3734	98	13	and	and	CCONJ
fsr-3734	98	14	a	a	DET
fsr-3734	98	15	variance	variance	NOUN
fsr-3734	98	16	of	of	ADP
fsr-3734	98	17	one	one	NUM
fsr-3734	98	18	.	.	PUNCT
fsr-3734	99	1	ordered	order	VERB
fsr-3734	99	2	response	response	NOUN
fsr-3734	99	3	models	model	NOUN
fsr-3734	99	4	have	have	AUX
fsr-3734	99	5	been	be	AUX
fsr-3734	99	6	used	use	VERB
fsr-3734	99	7	in	in	ADP
fsr-3734	99	8	previous	previous	ADJ
fsr-3734	99	9	studies	study	NOUN
fsr-3734	99	10	to	to	PART
fsr-3734	99	11	examine	examine	VERB
fsr-3734	99	12	rating	rating	NOUN
fsr-3734	99	13	schemes	scheme	NOUN
fsr-3734	99	14	of	of	ADP
fsr-3734	99	15	bonds	bond	NOUN
fsr-3734	99	16	(	(	PUNCT
fsr-3734	99	17	ederington	ederington	NOUN
fsr-3734	99	18	,	,	PUNCT
fsr-3734	99	19	1985	1985	NUM
fsr-3734	99	20	;	;	PUNCT
fsr-3734	99	21	farnham	farnham	PROPN
fsr-3734	99	22	&	&	CCONJ
fsr-3734	99	23	cluff	cluff	PROPN
fsr-3734	99	24	,	,	PUNCT
fsr-3734	99	25	1985	1985	NUM
fsr-3734	99	26	)	)	PUNCT
fsr-3734	99	27	.	.	PUNCT
fsr-3734	100	1	other	other	ADJ
fsr-3734	100	2	control	control	NOUN
fsr-3734	100	3	variables	variable	NOUN
fsr-3734	100	4	included	include	VERB
fsr-3734	100	5	in	in	ADP
fsr-3734	100	6	this	this	DET
fsr-3734	100	7	study	study	NOUN
fsr-3734	100	8	are	be	AUX
fsr-3734	100	9	a	a	DET
fsr-3734	100	10	bhc	bhc	NOUN
fsr-3734	100	11	’s	’s	PART
fsr-3734	100	12	primary	primary	ADJ
fsr-3734	100	13	capital	capital	NOUN
fsr-3734	100	14	position	position	NOUN
fsr-3734	100	15	(	(	PUNCT
fsr-3734	100	16	cap	cap	NOUN
fsr-3734	100	17	)	)	PUNCT
fsr-3734	100	18	,	,	PUNCT
fsr-3734	101	1	banksizeas	banksizea	NOUN
fsr-3734	101	2	measured	measure	VERB
fsr-3734	101	3	by	by	ADP
fsr-3734	101	4	total	total	ADJ
fsr-3734	101	5	assets	asset	NOUN
fsr-3734	101	6	(	(	PUNCT
fsr-3734	101	7	apse	apse	ADJ
fsr-3734	101	8	,	,	PUNCT
fsr-3734	101	9	and	and	CCONJ
fsr-3734	101	10	asset	asset	NOUN
fsr-3734	101	11	growth	growth	NOUN
fsr-3734	101	12	(	(	PUNCT
fsr-3734	101	13	ac	ac	PROPN
fsr-3734	101	14	)	)	PUNCT
fsr-3734	101	15	,	,	PUNCT
fsr-3734	101	16	the	the	DET
fsr-3734	101	17	annu	annu	NOUN
fsr-3734	101	18	~	~	SYM
fsr-3734	101	19	i	i	PRON
fsr-3734	101	20	~	~	SYM
fsr-3734	101	21	d	d	NOUN
fsr-3734	101	22	growth	growth	NOUN
fsr-3734	101	23	rate	rate	NOUN
fsr-3734	101	24	.	.	PUNCT
fsr-3734	102	1	additionally	additionally	ADV
fsr-3734	102	2	,	,	PUNCT
fsr-3734	102	3	since	since	SCONJ
fsr-3734	102	4	there	there	PRON
fsr-3734	102	5	may	may	AUX
fsr-3734	102	6	exist	exist	VERB
fsr-3734	102	7	regional	regional	ADJ
fsr-3734	102	8	variations	variation	NOUN
fsr-3734	102	9	in	in	ADP
fsr-3734	102	10	quality	quality	NOUN
fsr-3734	102	11	,	,	PUNCT
fsr-3734	102	12	this	this	DET
fsr-3734	102	13	analysis	analysis	NOUN
fsr-3734	102	14	incorporates	incorporate	VERB
fsr-3734	102	15	regional	regional	ADJ
fsr-3734	102	16	dummy	dummy	ADJ
fsr-3734	102	17	variables	variable	NOUN
fsr-3734	102	18	.	.	PUNCT
fsr-3734	103	1	furthermore	furthermore	ADV
fsr-3734	103	2	,	,	PUNCT
fsr-3734	103	3	anticipating	anticipate	VERB
fsr-3734	103	4	differences	difference	NOUN
fsr-3734	103	5	among	among	ADP
fsr-3734	103	6	re	re	ADJ
fsr-3734	103	7	gional	gional	ADJ
fsr-3734	103	8	(	(	PUNCT
fsr-3734	103	9	f	f	NOUN
fsr-3734	103	10	?	?	PUNCT
fsr-3734	103	11	)	)	PUNCT
fsr-3734	103	12	,	,	PUNCT
fsr-3734	103	13	superregional	superregional	PROPN
fsr-3734	103	14	(	(	PUNCT
fsr-3734	103	15	sr	sr	PROPN
fsr-3734	103	16	)	)	PUNCT
fsr-3734	103	17	,	,	PUNCT
fsr-3734	103	18	and	and	CCONJ
fsr-3734	103	19	money	money	NOUN
fsr-3734	103	20	center	center	NOUN
fsr-3734	103	21	(	(	PUNCT
fsr-3734	103	22	mc	mc	PROPN
fsr-3734	103	23	)	)	PUNCT
fsr-3734	103	24	financial	financial	ADJ
fsr-3734	103	25	institutions	institution	NOUN
fsr-3734	103	26	,	,	PUNCT
fsr-3734	103	27	dummy	dummy	ADJ
fsr-3734	103	28	financial	financial	ADJ
fsr-3734	103	29	services	service	NOUN
fsr-3734	103	30	review	review	VERB
fsr-3734	103	31	4(l	4(l	NUM
fsr-3734	103	32	)	)	PUNCT
fsr-3734	103	33	1995	1995	NUM
fsr-3734	103	34	table	table	NOUN
fsr-3734	103	35	3	3	NUM
fsr-3734	103	36	results	result	NOUN
fsr-3734	103	37	from	from	ADP
fsr-3734	103	38	ordered	order	VERB
fsr-3734	103	39	probit	probit	NOUN
fsr-3734	103	40	response	response	NOUN
fsr-3734	103	41	model	model	NOUN
fsr-3734	103	42	dependent	dependent	ADJ
fsr-3734	103	43	variable	variable	NOUN
fsr-3734	103	44	=	=	PUNCT
fsr-3734	103	45	sheshunoff	sheshunoff	NOUN
fsr-3734	103	46	ranking	ranking	NOUN
fsr-3734	103	47	(	(	PUNCT
fsr-3734	103	48	nr	nr	NOUN
fsr-3734	103	49	=	=	NOUN
fsr-3734	103	50	cj	cj	NOUN
fsr-3734	103	51	,	,	PUNCT
fsr-3734	103	52	c=~,c+=~,b=~,b+=~,a=~,a+=~	c=~,c+=~,b=~,b+=~,a=~,a+=~	NOUN
fsr-3734	103	53	)	)	PUNCT
fsr-3734	103	54	observations	observation	NOUN
fsr-3734	103	55	=	=	SYM
fsr-3734	103	56	194	194	NUM
fsr-3734	103	57	variables	variable	NOUN
fsr-3734	103	58	coefjfcient	coefjfcient	NOUN
fsr-3734	103	59	srandard	srandard	NOUN
fsr-3734	103	60	error	error	NOUN
fsr-3734	103	61	:	:	PUNCT
fsr-3734	103	62	-2.60461	-2.60461	PROPN
fsr-3734	103	63	*	*	X
fsr-3734	103	64	0.54803	0.54803	NUM
fsr-3734	103	65	*	*	NOUN
fsr-3734	103	66	0.7748	0.7748	NUM
fsr-3734	103	67	0.2000	0.2000	NUM
fsr-3734	103	68	dout	dout	PROPN
fsr-3734	103	69	9.00036	9.00036	NUM
fsr-3734	103	70	*	*	SYM
fsr-3734	103	71	*	*	X
fsr-3734	103	72	0.00018	0.00018	NUM
fsr-3734	103	73	ag	ag	PROPN
fsr-3734	103	74	0.03089	0.03089	NUM
fsr-3734	103	75	”	"	PUNCT
fsr-3734	103	76	0.01074	0.01074	NUM
fsr-3734	103	77	asset	asset	NOUN
fsr-3734	103	78	-4mloo3	-4mloo3	PROPN
fsr-3734	103	79	*	*	NOUN
fsr-3734	103	80	0.00001	0.00001	NUM
fsr-3734	103	81	cap	cap	NOUN
fsr-3734	103	82	0.60971	0.60971	NUM
fsr-3734	103	83	*	*	PUNCT
fsr-3734	103	84	0.08597	0.08597	NUM
fsr-3734	103	85	ne	ne	X
fsr-3734	103	86	-0.10017	-0.10017	X
fsr-3734	103	87	0.27	0.27	NUM
fsr-3734	103	88	18	18	NUM
fsr-3734	103	89	se	se	PROPN
fsr-3734	103	90	0.33380	0.33380	NUM
fsr-3734	103	91	0.2824	0.2824	NUM
fsr-3734	103	92	c	c	NOUN
fsr-3734	103	93	0.46249	0.46249	NUM
fsr-3734	103	94	0.2967	0.2967	NUM
fsr-3734	103	95	mw	mw	VERB
fsr-3734	103	96	0.6925	0.6925	NUM
fsr-3734	103	97	1	1	NUM
fsr-3734	103	98	0.4652	0.4652	NUM
fsr-3734	103	99	sw	sw	PROPN
fsr-3734	103	100	-0.72583	-0.72583	NOUN
fsr-3734	103	101	0.5924	0.5924	NUM
fsr-3734	103	102	mc	mc	PROPN
fsr-3734	103	103	-0.03062	-0.03062	PROPN
fsr-3734	103	104	0.5113	0.5113	NUM
fsr-3734	103	105	sr	sr	PROPN
fsr-3734	103	106	0.44396	0.44396	NUM
fsr-3734	103	107	0.4292	0.4292	NUM
fsr-3734	103	108	pi	pi	NOUN
fsr-3734	103	109	1.00212	1.00212	NUM
fsr-3734	103	110	*	*	PUNCT
fsr-3734	103	111	*	*	PUNCT
fsr-3734	103	112	0.4847	0.4847	NUM
fsr-3734	103	113	112	112	NUM
fsr-3734	104	1	1.55377	1.55377	NUM
fsr-3734	104	2	*	*	SYM
fsr-3734	104	3	0.495	0.495	NUM
fsr-3734	104	4	i	i	NUM
fsr-3734	104	5	p3	p3	VERB
fsr-3734	104	6	2.49119	2.49119	NUM
fsr-3734	104	7	*	*	NOUN
fsr-3734	104	8	0.5157	0.5157	NUM
fsr-3734	104	9	p4	p4	ADJ
fsr-3734	104	10	3.430.53	3.430.53	PROPN
fsr-3734	104	11	*	*	SYM
fsr-3734	104	12	0.5377	0.5377	NUM
fsr-3734	104	13	15	15	NUM
fsr-3734	104	14	4.67133	4.67133	NUM
fsr-3734	104	15	*	*	PUNCT
fsr-3734	104	16	0.5800	0.5800	NUM
fsr-3734	104	17	log-~~elih~	log-~~elih~	NUM
fsr-3734	104	18	-266.77	-266.77	PROPN
fsr-3734	104	19	chi	chi	NOUN
fsr-3734	104	20	-	-	PUNCT
fsr-3734	104	21	squared	square	VERB
fsr-3734	104	22	119.83	119.83	NUM
fsr-3734	104	23	*	*	NOUN
fsr-3734	104	24	notes	note	NOUN
fsr-3734	104	25	:	:	PUNCT
fsr-3734	104	26	*	*	PUNCT
fsr-3734	104	27	significant	significant	ADJ
fsr-3734	104	28	at	at	ADP
fsr-3734	104	29	the	the	DET
fsr-3734	104	30	.ol	.ol	NOUN
fsr-3734	104	31	level	level	NOUN
fsr-3734	104	32	.	.	PUNCT
fsr-3734	105	1	*	*	PUNCT
fsr-3734	105	2	*	*	PUNCT
fsr-3734	105	3	significant	significant	ADJ
fsr-3734	105	4	at	at	ADP
fsr-3734	105	5	the	the	DET
fsr-3734	105	6	.05	.05	NUM
fsr-3734	105	7	level	level	NOUN
fsr-3734	105	8	.	.	PUNCT
fsr-3734	106	1	variables	variable	NOUN
fsr-3734	106	2	are	be	AUX
fsr-3734	106	3	employed	employ	VERB
fsr-3734	106	4	to	to	PART
fsr-3734	106	5	determine	determine	VERB
fsr-3734	106	6	if	if	SCONJ
fsr-3734	106	7	there	there	PRON
fsr-3734	106	8	is	be	VERB
fsr-3734	106	9	any	any	DET
fsr-3734	106	10	variation	variation	NOUN
fsr-3734	106	11	in	in	ADP
fsr-3734	106	12	ranking	rank	VERB
fsr-3734	106	13	based	base	VERB
fsr-3734	106	14	upon	upon	SCONJ
fsr-3734	106	15	organizational	organizational	ADJ
fsr-3734	106	16	type	type	NOUN
fsr-3734	106	17	.	.	PUNCT
fsr-3734	107	1	since	since	SCONJ
fsr-3734	107	2	13	13	NUM
fsr-3734	107	3	bhcs	bhcs	NOUN
fsr-3734	107	4	reported	report	VERB
fsr-3734	107	5	losses	loss	NOUN
fsr-3734	107	6	for	for	ADP
fsr-3734	107	7	1989	1989	NUM
fsr-3734	107	8	,	,	PUNCT
fsr-3734	107	9	these	these	DET
fsr-3734	107	10	institutions	institution	NOUN
fsr-3734	107	11	are	be	AUX
fsr-3734	107	12	excluded	exclude	VERB
fsr-3734	107	13	from	from	ADP
fsr-3734	107	14	the	the	DET
fsr-3734	107	15	study	study	NOUN
fsr-3734	107	16	.	.	PUNCT
fsr-3734	108	1	the	the	DET
fsr-3734	108	2	rationale	rationale	NOUN
fsr-3734	108	3	for	for	ADP
fsr-3734	108	4	this	this	DET
fsr-3734	108	5	exclusion	exclusion	NOUN
fsr-3734	108	6	is	be	AUX
fsr-3734	108	7	that	that	SCONJ
fsr-3734	108	8	the	the	DET
fsr-3734	108	9	dividend	dividend	NOUN
fsr-3734	108	10	payout	payout	NOUN
fsr-3734	108	11	ratio	ratio	NOUN
fsr-3734	108	12	would	would	AUX
fsr-3734	108	13	yield	yield	VERB
fsr-3734	108	14	meaningless	meaningless	ADJ
fsr-3734	108	15	info	info	NOUN
fsr-3734	108	16	~	~	SYM
fsr-3734	108	17	ation	ation	NOUN
fsr-3734	108	18	.	.	PUNCT
fsr-3734	109	1	the	the	DET
fsr-3734	109	2	letter	letter	NOUN
fsr-3734	109	3	grade	grade	NOUN
fsr-3734	109	4	breakdown	breakdown	NOUN
fsr-3734	109	5	of	of	ADP
fsr-3734	109	6	these	these	DET
fsr-3734	109	7	excluded	exclude	VERB
fsr-3734	109	8	institutions	institution	NOUN
fsr-3734	109	9	are	be	AUX
fsr-3734	109	10	as	as	SCONJ
fsr-3734	109	11	follows	follow	VERB
fsr-3734	109	12	:	:	PUNCT
fsr-3734	109	13	nr	nr	PRON
fsr-3734	109	14	equals	equal	VERB
fsr-3734	109	15	4	4	NUM
fsr-3734	109	16	,	,	PUNCT
fsr-3734	109	17	c	c	NOUN
fsr-3734	109	18	=	=	SYM
fsr-3734	109	19	3	3	NUM
fsr-3734	109	20	,	,	PUNCT
fsr-3734	109	21	c+	c+	X
fsr-3734	109	22	=	=	SYM
fsr-3734	109	23	4	4	NUM
fsr-3734	109	24	,	,	PUNCT
fsr-3734	109	25	b	b	NOUN
fsr-3734	109	26	=	=	SYM
fsr-3734	109	27	1	1	NUM
fsr-3734	109	28	,	,	PUNCT
fsr-3734	109	29	and	and	CCONJ
fsr-3734	109	30	b+	b+	X
fsr-3734	109	31	=	=	SYM
fsr-3734	110	1	1	1	X
fsr-3734	110	2	.	.	PUNCT
fsr-3734	110	3	table	table	NOUN
fsr-3734	110	4	3	3	NUM
fsr-3734	110	5	reports	report	VERB
fsr-3734	110	6	the	the	DET
fsr-3734	110	7	conclusions	conclusion	NOUN
fsr-3734	110	8	of	of	ADP
fsr-3734	110	9	the	the	DET
fsr-3734	110	10	ordered	order	VERB
fsr-3734	110	11	response	response	NOUN
fsr-3734	110	12	model	model	NOUN
fsr-3734	110	13	.	.	PUNCT
fsr-3734	111	1	first	first	ADV
fsr-3734	111	2	,	,	PUNCT
fsr-3734	111	3	the	the	DET
fsr-3734	111	4	null	null	ADJ
fsr-3734	111	5	hypothesis	hypothesis	NOUN
fsr-3734	111	6	that	that	SCONJ
fsr-3734	111	7	there	there	PRON
fsr-3734	111	8	is	be	VERB
fsr-3734	111	9	not	not	PART
fsr-3734	111	10	any	any	DET
fsr-3734	111	11	regional	regional	ADJ
fsr-3734	111	12	variation	variation	NOUN
fsr-3734	111	13	in	in	ADP
fsr-3734	111	14	the	the	DET
fsr-3734	111	15	quality	quality	NOUN
fsr-3734	111	16	of	of	ADP
fsr-3734	111	17	bhcs	bhcs	NOUN
fsr-3734	111	18	can	can	AUX
fsr-3734	111	19	not	not	PART
fsr-3734	111	20	be	be	AUX
fsr-3734	111	21	rejected	reject	VERB
fsr-3734	111	22	at	at	ADP
fsr-3734	111	23	a	a	DET
fsr-3734	111	24	.0.5	.0.5	NUM
fsr-3734	111	25	level	level	NOUN
fsr-3734	111	26	of	of	ADP
fsr-3734	111	27	confidence	confidence	NOUN
fsr-3734	111	28	.	.	PUNCT
fsr-3734	112	1	additionally	additionally	ADV
fsr-3734	112	2	,	,	PUNCT
fsr-3734	112	3	there	there	PRON
fsr-3734	112	4	appears	appear	VERB
fsr-3734	112	5	to	to	PART
fsr-3734	112	6	be	be	AUX
fsr-3734	112	7	no	no	DET
fsr-3734	112	8	evidence	evidence	NOUN
fsr-3734	112	9	of	of	ADP
fsr-3734	112	10	qualitative	qualitative	ADJ
fsr-3734	112	11	differences	difference	NOUN
fsr-3734	112	12	based	base	VERB
fsr-3734	112	13	upon	upon	SCONJ
fsr-3734	112	14	being	be	AUX
fsr-3734	112	15	classified	classify	VERB
fsr-3734	112	16	as	as	ADP
fsr-3734	112	17	a	a	DET
fsr-3734	112	18	regional	regional	ADJ
fsr-3734	112	19	,	,	PUNCT
fsr-3734	112	20	superregional	superregional	ADJ
fsr-3734	112	21	,	,	PUNCT
fsr-3734	112	22	or	or	CCONJ
fsr-3734	112	23	money	money	NOUN
fsr-3734	112	24	center	center	NOUN
fsr-3734	112	25	financial	financial	ADJ
fsr-3734	112	26	institution	institution	NOUN
fsr-3734	112	27	.	.	PUNCT
fsr-3734	113	1	with	with	ADP
fsr-3734	113	2	respect	respect	NOUN
fsr-3734	113	3	to	to	ADP
fsr-3734	113	4	the	the	DET
fsr-3734	113	5	other	other	ADJ
fsr-3734	113	6	control	control	NOUN
fsr-3734	113	7	variables	variable	NOUN
fsr-3734	113	8	,	,	PUNCT
fsr-3734	113	9	asset	asset	NOUN
fsr-3734	113	10	growth	growth	NOUN
fsr-3734	113	11	and	and	CCONJ
fsr-3734	113	12	primary	primary	ADJ
fsr-3734	113	13	capital	capital	NOUN
fsr-3734	113	14	are	be	AUX
fsr-3734	113	15	positively	positively	ADV
fsr-3734	113	16	correlated	correlate	VERB
fsr-3734	113	17	and	and	CCONJ
fsr-3734	113	18	statistically	statistically	ADV
fsr-3734	113	19	significant	significant	ADJ
fsr-3734	113	20	at	at	ADP
fsr-3734	113	21	a	a	DET
fsr-3734	113	22	.ol	.ol	NOUN
fsr-3734	113	23	level	level	NOUN
fsr-3734	113	24	of	of	ADP
fsr-3734	113	25	confidence	confidence	NOUN
fsr-3734	113	26	.	.	PUNCT
fsr-3734	114	1	faster	fast	ADV
fsr-3734	114	2	growing	grow	VERB
fsr-3734	114	3	institutions	institution	NOUN
fsr-3734	114	4	tend	tend	VERB
fsr-3734	114	5	to	to	PART
fsr-3734	114	6	be	be	AUX
fsr-3734	114	7	the	the	DET
fsr-3734	114	8	stronger	strong	ADJ
fsr-3734	114	9	entities	entity	NOUN
fsr-3734	114	10	,	,	PUNCT
fsr-3734	114	11	while	while	SCONJ
fsr-3734	114	12	retrenchment	retrenchment	NOUN
fsr-3734	114	13	is	be	AUX
fsr-3734	114	14	the	the	DET
fsr-3734	114	15	norm	norm	NOUN
fsr-3734	114	16	for	for	ADP
fsr-3734	114	17	management	management	NOUN
fsr-3734	114	18	at	at	ADP
fsr-3734	114	19	weaker	weak	ADJ
fsr-3734	114	20	institutions	institution	NOUN
fsr-3734	114	21	.	.	PUNCT
fsr-3734	115	1	additionally	additionally	ADV
fsr-3734	115	2	,	,	PUNCT
fsr-3734	115	3	given	give	VERB
fsr-3734	115	4	the	the	DET
fsr-3734	115	5	regulatory	regulatory	ADJ
fsr-3734	115	6	fiasco	fiasco	NOUN
fsr-3734	115	7	of	of	ADP
fsr-3734	115	8	the	the	DET
fsr-3734	115	9	early	early	ADJ
fsr-3734	115	10	1980s	1980	NOUN
fsr-3734	115	11	in	in	ADP
fsr-3734	115	12	the	the	DET
fsr-3734	115	13	thrift	thrift	NOUN
fsr-3734	115	14	indus	indus	NOUN
fsr-3734	115	15	~	~	PROPN
fsr-3734	115	16	y	y	PROPN
fsr-3734	115	17	where	where	SCONJ
fsr-3734	115	18	regulators	regulator	NOUN
fsr-3734	115	19	thought	think	VERB
fsr-3734	115	20	that	that	SCONJ
fsr-3734	115	21	the	the	DET
fsr-3734	115	22	industry	industry	NOUN
fsr-3734	115	23	could	could	AUX
fsr-3734	115	24	grow	grow	VERB
fsr-3734	115	25	its	its	PRON
fsr-3734	115	26	way	way	NOUN
fsr-3734	115	27	out	out	ADP
fsr-3734	115	28	of	of	ADP
fsr-3734	115	29	its	its	PRON
fsr-3734	115	30	difficulties	difficulty	NOUN
fsr-3734	115	31	,	,	PUNCT
fsr-3734	115	32	it	it	PRON
fsr-3734	115	33	is	be	AUX
fsr-3734	115	34	unlikely	unlikely	ADJ
fsr-3734	115	35	that	that	SCONJ
fsr-3734	115	36	regulators	regulator	NOUN
fsr-3734	115	37	would	would	AUX
fsr-3734	115	38	allow	allow	VERB
fsr-3734	115	39	weak	weak	ADJ
fsr-3734	115	40	or	or	CCONJ
fsr-3734	115	41	marginal	marginal	ADJ
fsr-3734	115	42	institutions	institution	NOUN
fsr-3734	115	43	to	to	PART
fsr-3734	115	44	grow	grow	VERB
fsr-3734	115	45	rapidly	rapidly	ADV
fsr-3734	115	46	.	.	PUNCT
fsr-3734	116	1	also	also	ADV
fsr-3734	116	2	,	,	PUNCT
fsr-3734	116	3	those	those	DET
fsr-3734	116	4	institutions	institution	NOUN
fsr-3734	116	5	with	with	ADP
fsr-3734	116	6	higher	high	ADJ
fsr-3734	116	7	capital	capital	NOUN
fsr-3734	116	8	-	-	PUNCT
fsr-3734	116	9	to	to	ADP
fsr-3734	116	10	-	-	PUNCT
fsr-3734	116	11	asset	asset	NOUN
fsr-3734	116	12	ratios	ratio	NOUN
fsr-3734	116	13	are	be	AUX
fsr-3734	116	14	better	well	ADJ
fsr-3734	116	15	able	able	ADJ
fsr-3734	116	16	to	to	PART
fsr-3734	116	17	absorb	absorb	VERB
fsr-3734	116	18	losses	loss	NOUN
fsr-3734	116	19	and	and	CCONJ
fsr-3734	116	20	,	,	PUNCT
fsr-3734	116	21	hence	hence	ADV
fsr-3734	116	22	,	,	PUNCT
fsr-3734	116	23	exhibit	exhibit	VERB
fsr-3734	116	24	safer	safe	ADJ
fsr-3734	116	25	behavior	behavior	NOUN
fsr-3734	116	26	.	.	PUNCT
fsr-3734	117	1	bank	bank	NOUN
fsr-3734	117	2	dividend	dividend	NOUN
fsr-3734	117	3	policy	policy	NOUN
fsr-3734	117	4	as	as	ADP
fsr-3734	117	5	a	a	DET
fsr-3734	117	6	signal	signal	NOUN
fsr-3734	117	7	of	of	ADP
fsr-3734	117	8	bank	bank	PROPN
fsr-3734	117	9	@dity	@dity	PROPN
fsr-3734	117	10	7	7	NUM
fsr-3734	117	11	however	however	ADV
fsr-3734	117	12	,	,	PUNCT
fsr-3734	117	13	size	size	NOUN
fsr-3734	117	14	is	be	AUX
fsr-3734	117	15	inversely	inversely	ADV
fsr-3734	117	16	related	relate	VERB
fsr-3734	117	17	to	to	ADP
fsr-3734	117	18	quality	quality	NOUN
fsr-3734	117	19	and	and	CCONJ
fsr-3734	117	20	the	the	DET
fsr-3734	117	21	null	null	ADJ
fsr-3734	117	22	hypothesis	hypothesis	NOUN
fsr-3734	117	23	of	of	ADP
fsr-3734	117	24	no	no	DET
fsr-3734	117	25	relationship	relationship	NOUN
fsr-3734	117	26	between	between	ADP
fsr-3734	117	27	size	size	NOUN
fsr-3734	117	28	and	and	CCONJ
fsr-3734	117	29	quality	quality	NOUN
fsr-3734	117	30	can	can	AUX
fsr-3734	117	31	be	be	AUX
fsr-3734	117	32	rejected	reject	VERB
fsr-3734	117	33	at	at	ADP
fsr-3734	117	34	a	a	DET
fsr-3734	117	35	.ol	.ol	NOUN
fsr-3734	117	36	level	level	NOUN
fsr-3734	117	37	of	of	ADP
fsr-3734	117	38	confidence	confidence	NOUN
fsr-3734	117	39	.	.	PUNCT
fsr-3734	118	1	this	this	PRON
fsr-3734	118	2	may	may	AUX
fsr-3734	118	3	reflect	reflect	VERB
fsr-3734	118	4	the	the	DET
fsr-3734	118	5	problem	problem	NOUN
fsr-3734	118	6	that	that	SCONJ
fsr-3734	118	7	large	large	ADJ
fsr-3734	118	8	bhcs	bhcs	NOUN
fsr-3734	118	9	had	have	VERB
fsr-3734	118	10	with	with	ADP
fsr-3734	118	11	their	their	PRON
fsr-3734	118	12	asset	asset	NOUN
fsr-3734	118	13	portfolio	portfolio	NOUN
fsr-3734	118	14	in	in	ADP
fsr-3734	118	15	the	the	DET
fsr-3734	118	16	late	late	ADJ
fsr-3734	118	17	1980s	1980	NOUN
fsr-3734	118	18	as	as	SCONJ
fsr-3734	118	19	they	they	PRON
fsr-3734	118	20	wrote	write	VERB
fsr-3734	118	21	off	off	ADP
fsr-3734	118	22	non~~o	non~~o	PRON
fsr-3734	118	23	~	~	SYM
fsr-3734	118	24	ng	ng	PROPN
fsr-3734	118	25	loans	loan	NOUN
fsr-3734	118	26	to	to	ADP
fsr-3734	118	27	developing	develop	VERB
fsr-3734	118	28	countries	country	NOUN
fsr-3734	118	29	and	and	CCONJ
fsr-3734	118	30	as	as	SCONJ
fsr-3734	118	31	the	the	DET
fsr-3734	118	32	commercial	commercial	ADJ
fsr-3734	118	33	real	real	ADJ
fsr-3734	118	34	estate	estate	NOUN
fsr-3734	118	35	market	market	NOUN
fsr-3734	118	36	moved	move	VERB
fsr-3734	118	37	into	into	ADP
fsr-3734	118	38	a	a	DET
fsr-3734	118	39	recession	recession	NOUN
fsr-3734	118	40	.	.	PUNCT
fsr-3734	119	1	this	this	PRON
fsr-3734	119	2	may	may	AUX
fsr-3734	119	3	also	also	ADV
fsr-3734	119	4	reflect	reflect	VERB
fsr-3734	119	5	that	that	SCONJ
fsr-3734	119	6	larger	large	ADJ
fsr-3734	119	7	banks	bank	NOUN
fsr-3734	119	8	engage	engage	VERB
fsr-3734	119	9	in	in	ADP
fsr-3734	119	10	a	a	DET
fsr-3734	119	11	greater	great	ADJ
fsr-3734	119	12	variety	variety	NOUN
fsr-3734	119	13	of	of	ADP
fsr-3734	119	14	risk	risk	NOUN
fsr-3734	119	15	-	-	PUNCT
fsr-3734	119	16	taking	take	VERB
fsr-3734	119	17	activities	activity	NOUN
fsr-3734	119	18	than	than	ADP
fsr-3734	119	19	their	their	PRON
fsr-3734	119	20	smaller	small	ADJ
fsr-3734	119	21	counterparts	counterpart	NOUN
fsr-3734	119	22	.	.	PUNCT
fsr-3734	120	1	finally	finally	ADV
fsr-3734	120	2	,	,	PUNCT
fsr-3734	120	3	with	with	ADP
fsr-3734	120	4	respect	respect	NOUN
fsr-3734	120	5	to	to	ADP
fsr-3734	120	6	dividend	dividend	NOUN
fsr-3734	120	7	policy	policy	NOUN
fsr-3734	120	8	,	,	PUNCT
fsr-3734	120	9	the	the	DET
fsr-3734	120	10	results	result	NOUN
fsr-3734	120	11	are	be	AUX
fsr-3734	120	12	consistent	consistent	ADJ
fsr-3734	120	13	with	with	ADP
fsr-3734	120	14	expectations	expectation	NOUN
fsr-3734	120	15	.	.	PUNCT
fsr-3734	121	1	first	first	ADV
fsr-3734	121	2	,	,	PUNCT
fsr-3734	121	3	the	the	DET
fsr-3734	121	4	null	null	ADJ
fsr-3734	121	5	hypothesis	hypothesis	NOUN
fsr-3734	121	6	that	that	SCONJ
fsr-3734	121	7	dividends	dividend	NOUN
fsr-3734	121	8	per	per	ADP
fsr-3734	121	9	share	share	NOUN
fsr-3734	121	10	do	do	AUX
fsr-3734	121	11	not	not	PART
fsr-3734	121	12	reveal	reveal	VERB
fsr-3734	121	13	any	any	DET
fsr-3734	121	14	information	information	NOUN
fsr-3734	121	15	about	about	ADP
fsr-3734	121	16	the	the	DET
fsr-3734	121	17	quality	quality	NOUN
fsr-3734	121	18	of	of	ADP
fsr-3734	121	19	an	an	DET
fsr-3734	121	20	institution	institution	NOUN
fsr-3734	121	21	can	can	AUX
fsr-3734	121	22	be	be	AUX
fsr-3734	121	23	rejected	reject	VERB
fsr-3734	121	24	at	at	ADP
fsr-3734	121	25	the	the	DET
fsr-3734	121	26	.ol	.ol	NOUN
fsr-3734	121	27	level	level	NOUN
fsr-3734	121	28	of	of	ADP
fsr-3734	121	29	confidence	confidence	NOUN
fsr-3734	121	30	.	.	PUNCT
fsr-3734	122	1	there	there	PRON
fsr-3734	122	2	is	be	VERB
fsr-3734	122	3	a	a	DET
fsr-3734	122	4	positive	positive	ADJ
fsr-3734	122	5	and	and	CCONJ
fsr-3734	122	6	significant	significant	ADJ
fsr-3734	122	7	relationship	relationship	NOUN
fsr-3734	122	8	between	between	ADP
fsr-3734	122	9	dividends	dividend	NOUN
fsr-3734	122	10	per	per	ADP
fsr-3734	122	11	share	share	NOUN
fsr-3734	122	12	and	and	CCONJ
fsr-3734	122	13	bank	bank	NOUN
fsr-3734	122	14	quality	quality	NOUN
fsr-3734	122	15	rating	rating	NOUN
fsr-3734	122	16	.	.	PUNCT
fsr-3734	123	1	so	so	ADV
fsr-3734	123	2	,	,	PUNCT
fsr-3734	123	3	the	the	DET
fsr-3734	123	4	empirical	empirical	ADJ
fsr-3734	123	5	results	result	NOUN
fsr-3734	123	6	are	be	AUX
fsr-3734	123	7	consistent	consistent	ADJ
fsr-3734	123	8	with	with	ADP
fsr-3734	123	9	the	the	DET
fsr-3734	123	10	the	the	DET
fsr-3734	123	11	dividend	dividend	NOUN
fsr-3734	123	12	signaling	signal	VERB
fsr-3734	123	13	argument	argument	NOUN
fsr-3734	123	14	.	.	PUNCT
fsr-3734	124	1	high	high	ADJ
fsr-3734	124	2	dividends	dividend	NOUN
fsr-3734	124	3	per	per	ADP
fsr-3734	124	4	share	share	NOUN
fsr-3734	124	5	,	,	PUNCT
fsr-3734	124	6	ceteris	ceteris	NOUN
fsr-3734	124	7	paribus	paribus	NOUN
fsr-3734	124	8	,	,	PUNCT
fsr-3734	124	9	signal	signal	VERB
fsr-3734	124	10	that	that	SCONJ
fsr-3734	124	11	the	the	DET
fsr-3734	124	12	bank	bank	NOUN
fsr-3734	124	13	is	be	AUX
fsr-3734	124	14	healthy	healthy	ADJ
fsr-3734	124	15	and	and	CCONJ
fsr-3734	124	16	expects	expect	VERB
fsr-3734	124	17	to	to	PART
fsr-3734	124	18	remain	remain	VERB
fsr-3734	124	19	healthy	healthy	ADJ
fsr-3734	124	20	.	.	PUNCT
fsr-3734	125	1	second	second	ADJ
fsr-3734	125	2	,	,	PUNCT
fsr-3734	125	3	the	the	DET
fsr-3734	125	4	null	null	ADJ
fsr-3734	125	5	hypothesis	hypothesis	NOUN
fsr-3734	125	6	that	that	SCONJ
fsr-3734	125	7	there	there	PRON
fsr-3734	125	8	does	do	AUX
fsr-3734	125	9	not	not	PART
fsr-3734	125	10	exist	exist	VERB
fsr-3734	125	11	a	a	DET
fsr-3734	125	12	relationship	relationship	NOUN
fsr-3734	125	13	between	between	ADP
fsr-3734	125	14	bank	bank	NOUN
fsr-3734	125	15	soundness	soundness	NOUN
fsr-3734	125	16	and	and	CCONJ
fsr-3734	125	17	the	the	DET
fsr-3734	125	18	dividend	dividend	NOUN
fsr-3734	125	19	payout	payout	NOUN
fsr-3734	125	20	ratio	ratio	NOUN
fsr-3734	125	21	can	can	AUX
fsr-3734	125	22	be	be	AUX
fsr-3734	125	23	rejected	reject	VERB
fsr-3734	125	24	at	at	ADP
fsr-3734	125	25	an	an	DET
fsr-3734	125	26	.05	.05	NUM
fsr-3734	125	27	level	level	NOUN
fsr-3734	125	28	of	of	ADP
fsr-3734	125	29	confidence	confidence	NOUN
fsr-3734	125	30	.	.	PUNCT
fsr-3734	126	1	as	as	SCONJ
fsr-3734	126	2	anticipated	anticipate	VERB
fsr-3734	126	3	,	,	PUNCT
fsr-3734	126	4	dividends	dividend	NOUN
fsr-3734	126	5	as	as	ADP
fsr-3734	126	6	a	a	DET
fsr-3734	126	7	percent	percent	NOUN
fsr-3734	126	8	of	of	ADP
fsr-3734	126	9	earnings	earning	NOUN
fsr-3734	126	10	and	and	CCONJ
fsr-3734	126	11	quality	quality	NOUN
fsr-3734	126	12	are	be	AUX
fsr-3734	126	13	inversely	inversely	ADV
fsr-3734	126	14	related	relate	VERB
fsr-3734	126	15	;	;	PUNCT
fsr-3734	126	16	however	however	ADV
fsr-3734	126	17	,	,	PUNCT
fsr-3734	126	18	the	the	DET
fsr-3734	126	19	coefficient	coefficient	NOUN
fsr-3734	126	20	is	be	AUX
fsr-3734	126	21	small	small	ADJ
fsr-3734	126	22	.	.	PUNCT
fsr-3734	127	1	a	a	DET
fsr-3734	127	2	potential	potential	ADJ
fsr-3734	127	3	reason	reason	NOUN
fsr-3734	127	4	for	for	ADP
fsr-3734	127	5	this	this	DET
fsr-3734	127	6	outcome	outcome	NOUN
fsr-3734	127	7	is	be	AUX
fsr-3734	127	8	that	that	SCONJ
fsr-3734	127	9	the	the	DET
fsr-3734	127	10	banking	banking	NOUN
fsr-3734	127	11	industry	industry	NOUN
fsr-3734	127	12	is	be	AUX
fsr-3734	127	13	unique	unique	ADJ
fsr-3734	127	14	in	in	ADP
fsr-3734	127	15	that	that	DET
fsr-3734	127	16	retained	retain	VERB
fsr-3734	127	17	earnings	earning	NOUN
fsr-3734	127	18	provide	provide	VERB
fsr-3734	127	19	significant	significant	ADJ
fsr-3734	127	20	information	information	NOUN
fsr-3734	127	21	concerning	concern	VERB
fsr-3734	127	22	the	the	DET
fsr-3734	127	23	future	future	ADJ
fsr-3734	127	24	capital	capital	NOUN
fsr-3734	127	25	position	position	NOUN
fsr-3734	127	26	of	of	ADP
fsr-3734	127	27	the	the	DET
fsr-3734	127	28	industry	industry	NOUN
fsr-3734	127	29	.	.	PUNCT
fsr-3734	128	1	thus	thus	ADV
fsr-3734	128	2	,	,	PUNCT
fsr-3734	128	3	as	as	ADP
fsr-3734	128	4	the	the	DET
fsr-3734	128	5	dividend	dividend	NOUN
fsr-3734	128	6	payout	payout	NOUN
fsr-3734	128	7	increases	increase	NOUN
fsr-3734	128	8	,	,	PUNCT
fsr-3734	128	9	the	the	DET
fsr-3734	128	10	ability	ability	NOUN
fsr-3734	128	11	of	of	ADP
fsr-3734	128	12	an	an	DET
fsr-3734	128	13	institution	institution	NOUN
fsr-3734	128	14	to	to	PART
fsr-3734	128	15	expand	expand	VERB
fsr-3734	128	16	its	its	PRON
fsr-3734	128	17	capital	capital	NOUN
fsr-3734	128	18	base	base	NOUN
fsr-3734	128	19	is	be	AUX
fsr-3734	128	20	diminished	diminish	VERB
fsr-3734	128	21	,	,	PUNCT
fsr-3734	128	22	as	as	SCONJ
fsr-3734	128	23	is	be	AUX
fsr-3734	128	24	the	the	DET
fsr-3734	128	25	quality	quality	NOUN
fsr-3734	128	26	or	or	CCONJ
fsr-3734	128	27	soundness	soundness	NOUN
fsr-3734	128	28	of	of	ADP
fsr-3734	128	29	the	the	DET
fsr-3734	128	30	bank	bank	NOUN
fsr-3734	128	31	.	.	PUNCT
fsr-3734	129	1	therefore	therefore	ADV
fsr-3734	129	2	,	,	PUNCT
fsr-3734	129	3	while	while	SCONJ
fsr-3734	129	4	dividends	dividend	NOUN
fsr-3734	129	5	per	per	ADP
fsr-3734	129	6	share	share	NOUN
fsr-3734	129	7	is	be	AUX
fsr-3734	129	8	the	the	DET
fsr-3734	129	9	dominant	dominant	ADJ
fsr-3734	129	10	factor	factor	NOUN
fsr-3734	129	11	,	,	PUNCT
fsr-3734	129	12	it	it	PRON
fsr-3734	129	13	should	should	AUX
fsr-3734	129	14	not	not	PART
fsr-3734	129	15	be	be	AUX
fsr-3734	129	16	conside	conside	ADJ
fsr-3734	129	17	~	~	SYM
fsr-3734	129	18	d	d	NOUN
fsr-3734	129	19	in	in	ADP
fsr-3734	129	20	isolation	isolation	NOUN
fsr-3734	129	21	.	.	PUNCT
fsr-3734	130	1	the	the	DET
fsr-3734	130	2	investing	invest	VERB
fsr-3734	130	3	public	public	NOUN
fsr-3734	130	4	needs	need	VERB
fsr-3734	130	5	to	to	PART
fsr-3734	130	6	weigh	weigh	VERB
fsr-3734	130	7	both	both	DET
fsr-3734	130	8	aspects	aspect	NOUN
fsr-3734	130	9	of	of	ADP
fsr-3734	130	10	a	a	DET
fsr-3734	130	11	bank	bank	NOUN
fsr-3734	130	12	’s	’s	PART
fsr-3734	130	13	dividend	dividend	NOUN
fsr-3734	130	14	policy	policy	NOUN
fsr-3734	130	15	when	when	SCONJ
fsr-3734	130	16	selecting	select	VERB
fsr-3734	130	17	an	an	DET
fsr-3734	130	18	investment	investment	NOUN
fsr-3734	130	19	target	target	NOUN
fsr-3734	130	20	.	.	PUNCT
fsr-3734	131	1	v.	v.	ADP
fsr-3734	131	2	summary	summary	NOUN
fsr-3734	131	3	this	this	DET
fsr-3734	131	4	study	study	NOUN
fsr-3734	131	5	examined	examine	VERB
fsr-3734	131	6	the	the	DET
fsr-3734	131	7	relationship	relationship	NOUN
fsr-3734	131	8	between	between	ADP
fsr-3734	131	9	bank	bank	NOUN
fsr-3734	131	10	dividend	dividend	NOUN
fsr-3734	131	11	policy	policy	NOUN
fsr-3734	131	12	and	and	CCONJ
fsr-3734	131	13	bank	bank	NOUN
fsr-3734	131	14	quality	quality	NOUN
fsr-3734	131	15	rating	rating	NOUN
fsr-3734	131	16	.	.	PUNCT
fsr-3734	132	1	empirical	empirical	ADJ
fsr-3734	132	2	evidence	evidence	NOUN
fsr-3734	132	3	shows	show	VERB
fsr-3734	132	4	that	that	SCONJ
fsr-3734	132	5	bank	bank	NOUN
fsr-3734	132	6	management	management	NOUN
fsr-3734	132	7	uses	use	VERB
fsr-3734	132	8	its	its	PRON
fsr-3734	132	9	dividend	dividend	NOUN
fsr-3734	132	10	policy	policy	NOUN
fsr-3734	132	11	as	as	ADP
fsr-3734	132	12	a	a	DET
fsr-3734	132	13	vehicle	vehicle	NOUN
fsr-3734	132	14	for	for	ADP
fsr-3734	132	15	signaling	signal	VERB
fsr-3734	132	16	its	its	PRON
fsr-3734	132	17	financial	financial	ADJ
fsr-3734	132	18	health	health	NOUN
fsr-3734	132	19	to	to	ADP
fsr-3734	132	20	the	the	DET
fsr-3734	132	21	investing	investing	NOUN
fsr-3734	132	22	public	public	NOUN
fsr-3734	132	23	.	.	PUNCT
fsr-3734	133	1	using	use	VERB
fsr-3734	133	2	an	an	DET
fsr-3734	133	3	ordered	order	VERB
fsr-3734	133	4	probit	probit	NOUN
fsr-3734	133	5	response	response	NOUN
fsr-3734	133	6	model	model	NOUN
fsr-3734	133	7	,	,	PUNCT
fsr-3734	133	8	this	this	DET
fsr-3734	133	9	study	study	NOUN
fsr-3734	133	10	found	find	VERB
fsr-3734	133	11	that	that	SCONJ
fsr-3734	133	12	a	a	DET
fsr-3734	133	13	positive	positive	ADJ
fsr-3734	133	14	relationship	relationship	NOUN
fsr-3734	133	15	exists	exist	VERB
fsr-3734	133	16	between	between	ADP
fsr-3734	133	17	quality	quality	NOUN
fsr-3734	133	18	and	and	CCONJ
fsr-3734	133	19	dividends	dividend	NOUN
fsr-3734	133	20	per	per	ADP
fsr-3734	133	21	share	share	NOUN
fsr-3734	133	22	,	,	PUNCT
fsr-3734	133	23	which	which	PRON
fsr-3734	133	24	is	be	AUX
fsr-3734	133	25	consistent	consistent	ADJ
fsr-3734	133	26	with	with	ADP
fsr-3734	133	27	the	the	DET
fsr-3734	133	28	dividend	dividend	NOUN
fsr-3734	133	29	signaling	signal	VERB
fsr-3734	133	30	argument	argument	NOUN
fsr-3734	133	31	.	.	PUNCT
fsr-3734	134	1	additionally	additionally	ADV
fsr-3734	134	2	,	,	PUNCT
fsr-3734	134	3	an	an	DET
fsr-3734	134	4	inverse	inverse	NOUN
fsr-3734	134	5	relation	relation	NOUN
fsr-3734	134	6	ship	ship	NOUN
fsr-3734	134	7	was	be	AUX
fsr-3734	134	8	found	find	VERB
fsr-3734	134	9	between	between	ADP
fsr-3734	134	10	quality	quality	NOUN
fsr-3734	134	11	and	and	CCONJ
fsr-3734	134	12	dividends	dividend	NOUN
fsr-3734	134	13	as	as	ADP
fsr-3734	134	14	a	a	DET
fsr-3734	134	15	percent	percent	NOUN
fsr-3734	134	16	of	of	ADP
fsr-3734	134	17	earnings	earning	NOUN
fsr-3734	134	18	.	.	PUNCT
fsr-3734	135	1	the	the	DET
fsr-3734	135	2	result	result	NOUN
fsr-3734	135	3	clearly	clearly	ADV
fsr-3734	135	4	points	point	VERB
fsr-3734	135	5	to	to	ADP
fsr-3734	135	6	the	the	DET
fsr-3734	135	7	facts	fact	NOUN
fsr-3734	135	8	that	that	PRON
fsr-3734	135	9	retained	retain	VERB
fsr-3734	135	10	earnings	earning	NOUN
fsr-3734	135	11	are	be	AUX
fsr-3734	135	12	a	a	DET
fsr-3734	135	13	key	key	ADJ
fsr-3734	135	14	source	source	NOUN
fsr-3734	135	15	of	of	ADP
fsr-3734	135	16	capital	capital	NOUN
fsr-3734	135	17	for	for	ADP
fsr-3734	135	18	bhcs	bhcs	NOUN
fsr-3734	135	19	and	and	CCONJ
fsr-3734	135	20	that	that	SCONJ
fsr-3734	135	21	capital	capital	NOUN
fsr-3734	135	22	position	position	NOUN
fsr-3734	135	23	provides	provide	VERB
fsr-3734	135	24	information	information	NOUN
fsr-3734	135	25	about	about	ADP
fsr-3734	135	26	institutional	institutional	ADJ
fsr-3734	135	27	soundness	soundness	NOUN
fsr-3734	135	28	or	or	CCONJ
fsr-3734	135	29	,	,	PUNCT
fsr-3734	135	30	alternatively	alternatively	ADV
fsr-3734	135	31	,	,	PUNCT
fsr-3734	135	32	risk	risk	NOUN
fsr-3734	135	33	.	.	PUNCT
fsr-3734	136	1	however	however	ADV
fsr-3734	136	2	,	,	PUNCT
fsr-3734	136	3	of	of	ADP
fsr-3734	136	4	the	the	DET
fsr-3734	136	5	two	two	NUM
fsr-3734	136	6	measures	measure	NOUN
fsr-3734	136	7	,	,	PUNCT
fsr-3734	136	8	dividend	dividend	NOUN
fsr-3734	136	9	per	per	ADP
fsr-3734	136	10	share	share	NOUN
fsr-3734	136	11	provides	provide	VERB
fsr-3734	136	12	a	a	DET
fsr-3734	136	13	stronger	strong	ADJ
fsr-3734	136	14	signal	signal	NOUN
fsr-3734	136	15	.	.	PUNCT
fsr-3734	137	1	this	this	DET
fsr-3734	137	2	study	study	NOUN
fsr-3734	137	3	also	also	ADV
fsr-3734	137	4	shows	show	VERB
fsr-3734	137	5	that	that	SCONJ
fsr-3734	137	6	depositors	depositor	NOUN
fsr-3734	137	7	,	,	PUNCT
fsr-3734	137	8	shareholders	shareholder	NOUN
fsr-3734	137	9	,	,	PUNCT
fsr-3734	137	10	and	and	CCONJ
fsr-3734	137	11	creditors	creditor	NOUN
fsr-3734	137	12	can	can	AUX
fsr-3734	137	13	acquire	acquire	VERB
fsr-3734	137	14	informa	informa	ADJ
fsr-3734	137	15	tion	tion	NOUN
fsr-3734	137	16	about	about	ADP
fsr-3734	137	17	the	the	DET
fsr-3734	137	18	overall	overall	ADJ
fsr-3734	137	19	quality	quality	NOUN
fsr-3734	137	20	of	of	ADP
fsr-3734	137	21	a	a	DET
fsr-3734	137	22	bhc	bhc	NOUN
fsr-3734	137	23	by	by	ADP
fsr-3734	137	24	examining	examine	VERB
fsr-3734	137	25	both	both	DET
fsr-3734	137	26	aspects	aspect	NOUN
fsr-3734	137	27	of	of	ADP
fsr-3734	137	28	a	a	DET
fsr-3734	137	29	bhc	bhc	NOUN
fsr-3734	137	30	’s	’s	PART
fsr-3734	137	31	dividend	dividend	NOUN
fsr-3734	137	32	policy	policy	NOUN
fsr-3734	137	33	.	.	PUNCT
fsr-3734	138	1	while	while	SCONJ
fsr-3734	138	2	dividends	dividend	NOUN
fsr-3734	138	3	per	per	ADP
fsr-3734	138	4	share	share	NOUN
fsr-3734	138	5	are	be	AUX
fsr-3734	138	6	important	important	ADJ
fsr-3734	138	7	,	,	PUNCT
fsr-3734	138	8	they	they	PRON
fsr-3734	138	9	may	may	AUX
fsr-3734	138	10	not	not	PART
fsr-3734	138	11	reveal	reveal	VERB
fsr-3734	138	12	a	a	DET
fsr-3734	138	13	complete	complete	ADJ
fsr-3734	138	14	picture	picture	NOUN
fsr-3734	138	15	of	of	ADP
fsr-3734	138	16	the	the	DET
fsr-3734	138	17	bank	bank	NOUN
fsr-3734	138	18	’s	’s	PART
fsr-3734	138	19	financial	financial	ADJ
fsr-3734	138	20	health	health	NOUN
fsr-3734	138	21	.	.	PUNCT
fsr-3734	139	1	references	reference	NOUN
fsr-3734	139	2	aharony	aharony	PROPN
fsr-3734	139	3	,	,	PUNCT
fsr-3734	139	4	j.	j.	PROPN
fsr-3734	139	5	,	,	PUNCT
fsr-3734	139	6	&	&	CCONJ
fsr-3734	139	7	swary	swary	ADJ
fsr-3734	139	8	,	,	PUNCT
fsr-3734	139	9	1	1	NUM
fsr-3734	139	10	.	.	PUNCT
fsr-3734	139	11	(	(	PUNCT
fsr-3734	139	12	1980	1980	NUM
fsr-3734	139	13	)	)	PUNCT
fsr-3734	139	14	.	.	PUNCT
fsr-3734	140	1	quarterly	quarterly	ADJ
fsr-3734	140	2	dividends	dividend	NOUN
fsr-3734	140	3	and	and	CCONJ
fsr-3734	140	4	earnings	earning	NOUN
fsr-3734	140	5	announcements	announcement	NOUN
fsr-3734	140	6	and	and	CCONJ
fsr-3734	140	7	shareholders	shareholder	NOUN
fsr-3734	140	8	’	'	PUNCT
fsr-3734	140	9	returns	return	NOUN
fsr-3734	140	10	:	:	PUNCT
fsr-3734	140	11	an	an	DET
fsr-3734	140	12	empirical	empirical	ADJ
fsr-3734	140	13	analysis	analysis	NOUN
fsr-3734	140	14	.	.	PUNCT
fsr-3734	141	1	journal	journal	PROPN
fsr-3734	141	2	@finance	@finance	PROPN
fsr-3734	141	3	,	,	PUNCT
fsr-3734	141	4	35	35	NUM
fsr-3734	141	5	,	,	PUNCT
fsr-3734	141	6	l-12	l-12	PROPN
fsr-3734	141	7	.	.	PROPN
fsr-3734	141	8	barth	barth	PROPN
fsr-3734	141	9	,	,	PUNCT
fsr-3734	141	10	j.	j.	PROPN
fsr-3734	141	11	,	,	PUNCT
fsr-3734	141	12	brumbaugh	brumbaugh	PROPN
fsr-3734	141	13	,	,	PUNCT
fsr-3734	141	14	rd	rd	PROPN
fsr-3734	141	15	.	.	PROPN
fsr-3734	141	16	,	,	PUNCT
fsr-3734	141	17	&	&	CCONJ
fsr-3734	141	18	litan	litan	PROPN
fsr-3734	141	19	,	,	PUNCT
fsr-3734	141	20	r.	r.	PROPN
fsr-3734	141	21	(	(	PUNCT
fsr-3734	141	22	1992	1992	NUM
fsr-3734	141	23	)	)	PUNCT
fsr-3734	141	24	.	.	PUNCT
fsr-3734	142	1	the	the	DET
fsr-3734	142	2	future	future	NOUN
fsr-3734	142	3	of	of	ADP
fsr-3734	142	4	american	american	ADJ
fsr-3734	142	5	banking	banking	NOUN
fsr-3734	142	6	.	.	PUNCT
fsr-3734	143	1	new	new	PROPN
fsr-3734	143	2	york	york	PROPN
fsr-3734	143	3	:	:	PUNCT
fsr-3734	143	4	m.e	m.e	PROPN
fsr-3734	143	5	.	.	PROPN
fsr-3734	143	6	sharpe	sharpe	PROPN
fsr-3734	143	7	.	.	PROPN
fsr-3734	143	8	8	8	NUM
fsr-3734	143	9	financial	financial	ADJ
fsr-3734	143	10	services	service	NOUN
fsr-3734	143	11	review	review	VERB
fsr-3734	143	12	4	4	NUM
fsr-3734	143	13	(	(	PUNCT
fsr-3734	143	14	1	1	NUM
fsr-3734	143	15	)	)	PUNCT
fsr-3734	143	16	1995	1995	NUM
fsr-3734	143	17	bar	bar	NOUN
fsr-3734	143	18	-	-	PUNCT
fsr-3734	143	19	yosef	yosef	NOUN
fsr-3734	143	20	,	,	PUNCT
fsr-3734	143	21	s.	s.	PROPN
fsr-3734	143	22	,	,	PUNCT
fsr-3734	143	23	&	&	CCONJ
fsr-3734	143	24	huffman	huffman	PROPN
fsr-3734	143	25	,	,	PUNCT
fsr-3734	143	26	l.	l.	PROPN
fsr-3734	143	27	(	(	PUNCT
fsr-3734	143	28	1986	1986	NUM
fsr-3734	143	29	)	)	PUNCT
fsr-3734	143	30	.	.	PUNCT
fsr-3734	144	1	the	the	DET
fsr-3734	144	2	informational	informational	ADJ
fsr-3734	144	3	content	content	NOUN
fsr-3734	144	4	of	of	ADP
fsr-3734	144	5	dividends	dividend	NOUN
fsr-3734	144	6	:	:	PUNCT
fsr-3734	144	7	a	a	DET
fsr-3734	144	8	signalling	signal	VERB
fsr-3734	144	9	approach	approach	NOUN
fsr-3734	144	10	.	.	PUNCT
fsr-3734	145	1	journal	journal	NOUN
fsr-3734	145	2	of	of	ADP
fsr-3734	145	3	financial	financial	ADJ
fsr-3734	145	4	and	and	CCONJ
fsr-3734	145	5	quantitative	quantitative	ADJ
fsr-3734	145	6	analysis	analysis	NOUN
fsr-3734	145	7	,	,	PUNCT
fsr-3734	145	8	21.47	21.47	NUM
fsr-3734	145	9	-	-	SYM
fsr-3734	145	10	58	58	NUM
fsr-3734	145	11	.	.	PUNCT
fsr-3734	146	1	bhattacharya	bhattacharya	PROPN
fsr-3734	146	2	,	,	PUNCT
fsr-3734	146	3	s.	s.	PROPN
fsr-3734	146	4	(	(	PUNCT
fsr-3734	146	5	1979	1979	NUM
fsr-3734	146	6	)	)	PUNCT
fsr-3734	146	7	.	.	PUNCT
fsr-3734	147	1	imperfect	imperfect	ADJ
fsr-3734	147	2	information	information	NOUN
fsr-3734	147	3	,	,	PUNCT
fsr-3734	147	4	dividend	dividend	NOUN
fsr-3734	147	5	policy	policy	NOUN
fsr-3734	147	6	,	,	PUNCT
fsr-3734	147	7	and	and	CCONJ
fsr-3734	147	8	the	the	DET
fsr-3734	147	9	“	"	PUNCT
fsr-3734	147	10	bird	bird	NOUN
fsr-3734	147	11	in	in	ADP
fsr-3734	147	12	the	the	DET
fsr-3734	147	13	hand	hand	NOUN
fsr-3734	147	14	fallacy	fallacy	NOUN
fsr-3734	147	15	.	.	PUNCT
fsr-3734	147	16	”	"	PUNCT
fsr-3734	148	1	bell	bell	PROPN
fsr-3734	148	2	journal	journal	PROPN
fsr-3734	148	3	of	of	ADP
fsr-3734	148	4	economics	economic	NOUN
fsr-3734	148	5	,	,	PUNCT
fsr-3734	148	6	io	io	PROPN
fsr-3734	148	7	,	,	PUNCT
fsr-3734	148	8	47	47	NUM
fsr-3734	148	9	-	-	SYM
fsr-3734	148	10	58	58	NUM
fsr-3734	148	11	.	.	PUNCT
fsr-3734	149	1	eades	eades	PROPN
fsr-3734	149	2	,	,	PUNCT
fsr-3734	149	3	k.	k.	PROPN
fsr-3734	149	4	(	(	PUNCT
fsr-3734	149	5	1982	1982	NUM
fsr-3734	149	6	)	)	PUNCT
fsr-3734	149	7	.	.	PUNCT
fsr-3734	150	1	empirical	empirical	ADJ
fsr-3734	150	2	evidence	evidence	NOUN
fsr-3734	150	3	on	on	ADP
fsr-3734	150	4	dividends	dividend	NOUN
fsr-3734	150	5	as	as	ADP
fsr-3734	150	6	a	a	DET
fsr-3734	150	7	signal	signal	NOUN
fsr-3734	150	8	of	of	ADP
fsr-3734	150	9	fii	fii	PROPN
fsr-3734	150	10	value	value	NOUN
fsr-3734	150	11	.	.	PUNCT
fsr-3734	151	1	journal	journal	PROPN
fsr-3734	151	2	of	of	ADP
fsr-3734	151	3	financial	financial	ADJ
fsr-3734	151	4	and	and	CCONJ
fsr-3734	151	5	qualitative	qualitative	ADJ
fsr-3734	151	6	analysis	analysis	NOUN
fsr-3734	151	7	,	,	PUNCT
fsr-3734	151	8	17,471	17,471	NUM
fsr-3734	151	9	-	-	SYM
fsr-3734	151	10	500	500	NUM
fsr-3734	151	11	.	.	PUNCT
fsr-3734	152	1	ederington	ederington	NOUN
fsr-3734	152	2	.	.	PUNCT
fsr-3734	153	1	l.	l.	PROPN
fsr-3734	153	2	(	(	PUNCT
fsr-3734	153	3	1985	1985	NUM
fsr-3734	153	4	)	)	PUNCT
fsr-3734	153	5	.	.	PUNCT
fsr-3734	154	1	classification	classification	NOUN
fsr-3734	154	2	models	model	NOUN
fsr-3734	154	3	and	and	CCONJ
fsr-3734	154	4	bond	bond	NOUN
fsr-3734	154	5	ratings	rating	NOUN
fsr-3734	154	6	.	.	PUNCT
fsr-3734	155	1	financial	financial	ADJ
fsr-3734	155	2	review	review	PROPN
fsr-3734	155	3	,	,	PUNCT
fsr-3734	155	4	20,237	20,237	NUM
fsr-3734	155	5	-	-	SYM
fsr-3734	155	6	262	262	NUM
fsr-3734	155	7	.	.	PUNCT
fsr-3734	156	1	farnham	farnham	PROPN
fsr-3734	156	2	,	,	PUNCT
fsr-3734	156	3	p.	p.	NOUN
fsr-3734	156	4	,	,	PUNCT
fsr-3734	156	5	&	&	CCONJ
fsr-3734	156	6	cluff	cluff	PROPN
fsr-3734	156	7	,	,	PUNCT
fsr-3734	156	8	g.	g.	PROPN
fsr-3734	156	9	(	(	PUNCT
fsr-3734	156	10	1985	1985	NUM
fsr-3734	156	11	)	)	PUNCT
fsr-3734	156	12	.	.	PUNCT
fsr-3734	157	1	a	a	DET
fsr-3734	157	2	problem	problem	NOUN
fsr-3734	157	3	of	of	ADP
fsr-3734	157	4	discrete	discrete	ADJ
fsr-3734	157	5	choice	choice	NOUN
fsr-3734	157	6	:	:	PUNCT
fsr-3734	157	7	moody	moody	PROPN
fsr-3734	157	8	’s	’s	PART
fsr-3734	157	9	municipal	municipal	ADJ
fsr-3734	157	10	bond	bond	NOUN
fsr-3734	157	11	ratings	rating	NOUN
fsr-3734	157	12	.	.	PUNCT
fsr-3734	158	1	journal	journal	NOUN
fsr-3734	158	2	of	of	ADP
fsr-3734	158	3	economics	economic	NOUN
fsr-3734	158	4	and	and	CCONJ
fsr-3734	158	5	business	business	NOUN
fsr-3734	158	6	,	,	PUNCT
fsr-3734	158	7	37.277	37.277	NUM
fsr-3734	158	8	-	-	SYM
fsr-3734	158	9	302	302	NUM
fsr-3734	158	10	.	.	PUNCT
fsr-3734	159	1	federal	federal	ADJ
fsr-3734	159	2	deposit	deposit	NOUN
fsr-3734	159	3	insurance	insurance	NOUN
fsr-3734	159	4	corporation	corporation	NOUN
fsr-3734	159	5	(	(	PUNCT
fsr-3734	159	6	fdic	fdic	PROPN
fsr-3734	159	7	)	)	PUNCT
fsr-3734	159	8	.	.	PUNCT
fsr-3734	160	1	(	(	PUNCT
fsr-3734	160	2	1985	1985	NUM
fsr-3734	160	3	)	)	PUNCT
fsr-3734	160	4	.	.	PUNCT
fsr-3734	161	1	the	the	DET
fsr-3734	161	2	fdicstatistics	fdicstatistic	NOUN
fsr-3734	161	3	on	on	ADP
fsr-3734	161	4	banking	banking	NOUN
fsr-3734	161	5	.	.	PUNCT
fsr-3734	162	1	washington	washington	PROPN
fsr-3734	162	2	,	,	PUNCT
fsr-3734	162	3	dc	dc	PROPN
fsr-3734	162	4	:	:	PUNCT
fsr-3734	162	5	fdic	fdic	PROPN
fsr-3734	162	6	.	.	PUNCT
fsr-3734	162	7	federal	federal	ADJ
fsr-3734	162	8	deposit	deposit	NOUN
fsr-3734	162	9	insurance	insurance	NOUN
fsr-3734	162	10	corporation	corporation	NOUN
fsr-3734	162	11	.	.	PUNCT
fsr-3734	163	1	(	(	PUNCT
fsr-3734	163	2	1991	1991	NUM
fsr-3734	163	3	,	,	PUNCT
fsr-3734	163	4	first	first	ADJ
fsr-3734	163	5	quarter	quarter	NOUN
fsr-3734	163	6	)	)	PUNCT
fsr-3734	163	7	.	.	PUNCT
fsr-3734	164	1	the	the	DET
fsr-3734	164	2	fdic	fdic	PROPN
fsr-3734	164	3	quarterly	quarterly	ADJ
fsr-3734	164	4	banking	banking	NOUN
fsr-3734	164	5	profile	profile	NOUN
fsr-3734	164	6	.	.	PUNCT
fsr-3734	165	1	washington	washington	PROPN
fsr-3734	165	2	,	,	PUNCT
fsr-3734	165	3	dc	dc	PROPN
fsr-3734	165	4	:	:	PUNCT
fsr-3734	165	5	fdic	fdic	PROPN
fsr-3734	165	6	.	.	PUNCT
fsr-3734	165	7	federal	federal	ADJ
fsr-3734	165	8	deposit	deposit	NOUN
fsr-3734	165	9	insurance	insurance	NOUN
fsr-3734	165	10	corporation	corporation	NOUN
fsr-3734	165	11	.	.	PUNCT
fsr-3734	166	1	(	(	PUNCT
fsr-3734	166	2	1994	1994	NUM
fsr-3734	166	3	,	,	PUNCT
fsr-3734	166	4	first	first	ADJ
fsr-3734	166	5	quarter	quarter	NOUN
fsr-3734	166	6	)	)	PUNCT
fsr-3734	166	7	.	.	PUNCT
fsr-3734	167	1	the	the	DET
fsr-3734	167	2	fdic	fdic	PROPN
fsr-3734	167	3	quarterly	quarterly	ADJ
fsr-3734	167	4	banking	banking	NOUN
fsr-3734	167	5	profile	profile	NOUN
fsr-3734	167	6	.	.	PUNCT
fsr-3734	168	1	washington	washington	PROPN
fsr-3734	168	2	,	,	PUNCT
fsr-3734	168	3	dc	dc	PROPN
fsr-3734	168	4	:	:	PUNCT
fsr-3734	168	5	fdic	fdic	PROPN
fsr-3734	168	6	.	.	PUNCT
fsr-3734	168	7	kane	kane	PROPN
fsr-3734	168	8	,	,	PUNCT
fsr-3734	168	9	e.	e.	PROPN
fsr-3734	168	10	(	(	PUNCT
fsr-3734	168	11	1989	1989	NUM
fsr-3734	168	12	)	)	PUNCT
fsr-3734	168	13	.	.	PUNCT
fsr-3734	169	1	the	the	DET
fsr-3734	169	2	high	high	ADJ
fsr-3734	169	3	cost	cost	NOUN
fsr-3734	169	4	of	of	ADP
fsr-3734	169	5	incompletely	incompletely	ADV
fsr-3734	169	6	funding	fund	VERB
fsr-3734	169	7	fslic	fslic	ADJ
fsr-3734	169	8	shortage	shortage	NOUN
fsr-3734	169	9	of	of	ADP
fsr-3734	169	10	explicit	explicit	ADJ
fsr-3734	169	11	capital	capital	NOUN
fsr-3734	169	12	.	.	PUNCT
fsr-3734	170	1	journal	journal	PROPN
fsr-3734	170	2	of	of	ADP
fsr-3734	170	3	economic	economic	ADJ
fsr-3734	170	4	perspective	perspective	NOUN
fsr-3734	170	5	,	,	PUNCT
fsr-3734	170	6	3	3	NUM
fsr-3734	170	7	,	,	PUNCT
fsr-3734	170	8	3	3	NUM
fsr-3734	170	9	l-47	l-47	PROPN
fsr-3734	170	10	.	.	PUNCT
fsr-3734	171	1	keen	keen	ADJ
fsr-3734	171	2	,	,	PUNCT
fsr-3734	171	3	h.	h.	PROPN
fsr-3734	171	4	(	(	PUNCT
fsr-3734	171	5	1983	1983	NUM
fsr-3734	171	6	)	)	PUNCT
fsr-3734	171	7	.	.	PUNCT
fsr-3734	172	1	the	the	DET
fsr-3734	172	2	impact	impact	NOUN
fsr-3734	172	3	of	of	ADP
fsr-3734	172	4	a	a	DET
fsr-3734	172	5	dividend	dividend	NOUN
fsr-3734	172	6	cut	cut	VERB
fsr-3734	172	7	announcement	announcement	NOUN
fsr-3734	172	8	on	on	ADP
fsr-3734	172	9	bank	bank	NOUN
fsr-3734	172	10	share	share	NOUN
fsr-3734	172	11	prices	price	NOUN
fsr-3734	172	12	.	.	PUNCT
fsr-3734	173	1	journal	journal	PROPN
fsr-3734	173	2	ofbank	ofbank	PROPN
fsr-3734	173	3	research	research	PROPN
fsr-3734	173	4	,	,	PUNCT
fsr-3734	173	5	13	13	NUM
fsr-3734	173	6	,	,	PUNCT
fsr-3734	173	7	274	274	NUM
fsr-3734	173	8	-	-	SYM
fsr-3734	173	9	28	28	NUM
fsr-3734	173	10	1	1	NUM
fsr-3734	173	11	.	.	PUNCT
fsr-3734	174	1	mayne	mayne	PROPN
fsr-3734	174	2	,	,	PUNCT
fsr-3734	174	3	l.	l.	PROPN
fsr-3734	174	4	(	(	PUNCT
fsr-3734	174	5	1980	1980	NUM
fsr-3734	174	6	)	)	PUNCT
fsr-3734	174	7	.	.	PUNCT
fsr-3734	175	1	bank	bank	NOUN
fsr-3734	175	2	dividend	dividend	NOUN
fsr-3734	175	3	policy	policy	NOUN
fsr-3734	175	4	and	and	CCONJ
fsr-3734	175	5	holding	hold	VERB
fsr-3734	175	6	company	company	NOUN
fsr-3734	175	7	affiliation	affiliation	NOUN
fsr-3734	175	8	.	.	PUNCT
fsr-3734	176	1	journal	journal	PROPN
fsr-3734	176	2	of	of	ADP
fsr-3734	176	3	financial	financial	ADJ
fsr-3734	176	4	and	and	CCONJ
fsr-3734	176	5	qualitative	qualitative	ADJ
fsr-3734	176	6	analysis	analysis	NOUN
fsr-3734	176	7	,	,	PUNCT
fsr-3734	176	8	15	15	NUM
fsr-3734	176	9	,	,	PUNCT
fsr-3734	176	10	469	469	NUM
fsr-3734	176	11	-	-	SYM
fsr-3734	176	12	480	480	NUM
fsr-3734	176	13	.	.	PUNCT
fsr-3734	177	1	white	white	PROPN
fsr-3734	177	2	,	,	PUNCT
fsr-3734	177	3	l.	l.	PROPN
fsr-3734	177	4	(	(	PUNCT
fsr-3734	177	5	1989	1989	NUM
fsr-3734	177	6	)	)	PUNCT
fsr-3734	177	7	.	.	PUNCT
fsr-3734	178	1	the	the	DET
fsr-3734	178	2	reform	reform	NOUN
fsr-3734	178	3	of	of	ADP
fsr-3734	178	4	federal	federal	ADJ
fsr-3734	178	5	deposit	deposit	NOUN
fsr-3734	178	6	insurance	insurance	NOUN
fsr-3734	178	7	.	.	PUNCT
fsr-3734	179	1	journal	journal	PROPN
fsr-3734	179	2	ofeconomic	ofeconomic	PROPN
fsr-3734	179	3	perspective	perspective	NOUN
fsr-3734	179	4	,	,	PUNCT
fsr-3734	179	5	3,1	3,1	NUM
fsr-3734	179	6	l-30	l-30	PRON
fsr-3734	179	7	.	.	PUNCT