id	sid	tid	token	lemma	pos
fsr-3774	1	1	pii	pii	PROPN
fsr-3774	1	2	:	:	PUNCT
fsr-3774	1	3	1057	1057	NUM
fsr-3774	1	4	-	-	SYM
fsr-3774	1	5	0810(95)90004	0810(95)90004	NUM
fsr-3774	1	6	-	-	PUNCT
fsr-3774	1	7	7	7	NUM
fsr-3774	1	8	financial	financial	ADJ
fsr-3774	1	9	services	service	NOUN
fsr-3774	1	10	review	review	NOUN
fsr-3774	1	11	,	,	PUNCT
fsr-3774	1	12	4(2	4(2	NUM
fsr-3774	1	13	):	):	PUNCT
fsr-3774	1	14	81	81	NUM
fsr-3774	1	15	-	-	SYM
fsr-3774	1	16	95	95	NUM
fsr-3774	1	17	copyright	copyright	NOUN
fsr-3774	1	18	0	0	NUM
fsr-3774	1	19	1995	1995	NUM
fsr-3774	1	20	by	by	ADP
fsr-3774	1	21	jai	jai	PROPN
fsr-3774	1	22	press	press	PROPN
fsr-3774	1	23	inc	inc	PROPN
fsr-3774	1	24	.	.	PROPN
fsr-3774	1	25	issn	issn	PROPN
fsr-3774	1	26	:	:	PUNCT
fsr-3774	1	27	1057	1057	NUM
fsr-3774	1	28	-	-	SYM
fsr-3774	1	29	0810	0810	NUM
fsr-3774	1	30	all	all	DET
fsr-3774	1	31	rights	right	NOUN
fsr-3774	1	32	of	of	ADP
fsr-3774	1	33	reproduction	reproduction	NOUN
fsr-3774	1	34	in	in	ADP
fsr-3774	1	35	any	any	DET
fsr-3774	1	36	form	form	NOUN
fsr-3774	1	37	reserved	reserve	VERB
fsr-3774	1	38	.	.	PUNCT
fsr-3774	2	1	commission	commission	NOUN
fsr-3774	2	2	-	-	PUNCT
fsr-3774	2	3	motivated	motivate	VERB
fsr-3774	2	4	trading	trading	NOUN
fsr-3774	2	5	patterns	pattern	NOUN
fsr-3774	2	6	of	of	ADP
fsr-3774	2	7	brokers	broker	NOUN
fsr-3774	2	8	across	across	ADP
fsr-3774	2	9	the	the	DET
fsr-3774	2	10	production	production	NOUN
fsr-3774	2	11	month	month	NOUN
fsr-3774	2	12	earl	earl	PROPN
fsr-3774	2	13	d.	d.	PROPN
fsr-3774	2	14	benson	benson	PROPN
fsr-3774	2	15	david	david	PROPN
fsr-3774	2	16	s.	s.	PROPN
fsr-3774	2	17	rystrom	rystrom	PROPN
fsr-3774	2	18	greg	greg	PROPN
fsr-3774	2	19	t.	t.	PROPN
fsr-3774	2	20	smersh	smersh	PROPN
fsr-3774	2	21	the	the	DET
fsr-3774	2	22	intramonthpattem	intramonthpattem	NOUN
fsr-3774	2	23	of	of	ADP
fsr-3774	2	24	broker	broker	PROPN
fsr-3774	2	25	commission	commission	PROPN
fsr-3774	2	26	earnings	earning	NOUN
fsr-3774	2	27	is	be	AUX
fsr-3774	2	28	examinedfor	examinedfor	NOUN
fsr-3774	2	29	a	a	DET
fsr-3774	2	30	sample	sample	NOUN
fsr-3774	2	31	of	of	ADP
fsr-3774	2	32	one	one	NUM
fsr-3774	2	33	hundred	hundred	NUM
fsr-3774	2	34	brokers	broker	NOUN
fsr-3774	2	35	from	from	ADP
fsr-3774	2	36	a	a	DET
fsr-3774	2	37	national	national	ADJ
fsr-3774	2	38	brokerage	brokerage	NOUN
fsr-3774	2	39	firm	firm	NOUN
fsr-3774	2	40	.	.	PUNCT
fsr-3774	3	1	it	it	PRON
fsr-3774	3	2	is	be	AUX
fsr-3774	3	3	hypothesized	hypothesize	VERB
fsr-3774	3	4	that	that	SCONJ
fsr-3774	3	5	the	the	DET
fsr-3774	3	6	structure	structure	NOUN
fsr-3774	3	7	of	of	ADP
fsr-3774	3	8	broker	broker	NOUN
fsr-3774	3	9	commissions	commission	NOUN
fsr-3774	3	10	leads	lead	VERB
fsr-3774	3	11	to	to	ADP
fsr-3774	3	12	distortions	distortion	NOUN
fsr-3774	3	13	in	in	ADP
fsr-3774	3	14	trading	trading	NOUN
fsr-3774	3	15	.	.	PUNCT
fsr-3774	4	1	the	the	DET
fsr-3774	4	2	evidence	evidence	NOUN
fsr-3774	4	3	shows	show	VERB
fsr-3774	4	4	that	that	SCONJ
fsr-3774	4	5	in	in	ADP
fsr-3774	4	6	the	the	DET
fsr-3774	4	7	last	last	ADJ
fsr-3774	4	8	five	five	NUM
fsr-3774	4	9	days	day	NOUN
fsr-3774	4	10	of	of	ADP
fsr-3774	4	11	the	the	DET
fsr-3774	4	12	production	production	NOUN
fsr-3774	4	13	month	month	NOUN
fsr-3774	4	14	,	,	PUNCT
fsr-3774	4	15	more	more	ADJ
fsr-3774	4	16	than	than	ADP
fsr-3774	4	17	one	one	NUM
fsr-3774	4	18	-	-	PUNCT
fsr-3774	4	19	fourth	fourth	NOUN
fsr-3774	4	20	of	of	ADP
fsr-3774	4	21	the	the	DET
fsr-3774	4	22	brokers	broker	NOUN
fsr-3774	4	23	earned	earn	VERB
fsr-3774	4	24	a	a	DET
fsr-3774	4	25	significantly	significantly	ADV
fsr-3774	4	26	higher	high	ADJ
fsr-3774	4	27	proportion	proportion	NOUN
fsr-3774	4	28	of	of	ADP
fsr-3774	4	29	their	their	PRON
fsr-3774	4	30	monthly	monthly	ADJ
fsr-3774	4	31	commissions	commission	NOUN
fsr-3774	4	32	than	than	SCONJ
fsr-3774	4	33	would	would	AUX
fsr-3774	4	34	be	be	AUX
fsr-3774	4	35	expected	expect	VERB
fsr-3774	4	36	if	if	SCONJ
fsr-3774	4	37	trading	trading	NOUN
fsr-3774	4	38	were	be	AUX
fsr-3774	4	39	uniform	uniform	ADJ
fsr-3774	4	40	across	across	ADP
fsr-3774	4	41	the	the	DET
fsr-3774	4	42	month	month	NOUN
fsr-3774	4	43	.	.	PUNCT
fsr-3774	5	1	this	this	PRON
fsr-3774	5	2	suggests	suggest	VERB
fsr-3774	5	3	that	that	SCONJ
fsr-3774	5	4	the	the	DET
fsr-3774	5	5	structure	structure	NOUN
fsr-3774	5	6	of	of	ADP
fsr-3774	5	7	the	the	DET
fsr-3774	5	8	commission	commission	NOUN
fsr-3774	5	9	system	system	NOUN
fsr-3774	5	10	may	may	AUX
fsr-3774	5	11	lead	lead	VERB
fsr-3774	5	12	some	some	DET
fsr-3774	5	13	brokers	broker	NOUN
fsr-3774	5	14	to	to	PART
fsr-3774	5	15	encourage	encourage	VERB
fsr-3774	5	16	individual	individual	ADJ
fsr-3774	5	17	investors	investor	NOUN
fsr-3774	5	18	to	to	PART
fsr-3774	5	19	unnecessarily	unnecessarily	ADV
fsr-3774	5	20	trade	trade	VERB
fsr-3774	5	21	securities	security	NOUN
fsr-3774	5	22	near	near	ADP
fsr-3774	5	23	the	the	DET
fsr-3774	5	24	end	end	NOUN
fsr-3774	5	25	of	of	ADP
fsr-3774	5	26	the	the	DET
fsr-3774	5	27	production	production	NOUN
fsr-3774	5	28	month	month	NOUN
fsr-3774	5	29	to	to	PART
fsr-3774	5	30	boost	boost	VERB
fsr-3774	5	31	their	their	PRON
fsr-3774	5	32	commission	commission	NOUN
fsr-3774	5	33	income	income	NOUN
fsr-3774	5	34	.	.	PUNCT
fsr-3774	6	1	i.	i.	PROPN
fsr-3774	6	2	introduction	introduction	NOUN
fsr-3774	6	3	the	the	DET
fsr-3774	6	4	trading	trading	NOUN
fsr-3774	6	5	practices	practice	NOUN
fsr-3774	6	6	of	of	ADP
fsr-3774	6	7	individual	individual	ADJ
fsr-3774	6	8	brokers	broker	NOUN
fsr-3774	6	9	have	have	AUX
fsr-3774	6	10	not	not	PART
fsr-3774	6	11	been	be	AUX
fsr-3774	6	12	investigated	investigate	VERB
fsr-3774	6	13	in	in	ADP
fsr-3774	6	14	the	the	DET
fsr-3774	6	15	academic	academic	ADJ
fsr-3774	6	16	finance	finance	NOUN
fsr-3774	6	17	literature	literature	NOUN
fsr-3774	6	18	.	.	PUNCT
fsr-3774	7	1	an	an	DET
fsr-3774	7	2	abundance	abundance	NOUN
fsr-3774	7	3	of	of	ADP
fsr-3774	7	4	articles	article	NOUN
fsr-3774	7	5	has	have	AUX
fsr-3774	7	6	been	be	AUX
fsr-3774	7	7	written	write	VERB
fsr-3774	7	8	on	on	ADP
fsr-3774	7	9	the	the	DET
fsr-3774	7	10	pricing	pricing	NOUN
fsr-3774	7	11	efficiency	efficiency	NOUN
fsr-3774	7	12	(	(	PUNCT
fsr-3774	7	13	or	or	CCONJ
fsr-3774	7	14	external	external	ADJ
fsr-3774	7	15	efficiency	efficiency	NOUN
fsr-3774	7	16	)	)	PUNCT
fsr-3774	7	17	of	of	ADP
fsr-3774	7	18	financial	financial	ADJ
fsr-3774	7	19	markets	market	NOUN
fsr-3774	7	20	and	and	CCONJ
fsr-3774	7	21	many	many	ADJ
fsr-3774	7	22	articles	article	NOUN
fsr-3774	7	23	have	have	AUX
fsr-3774	7	24	also	also	ADV
fsr-3774	7	25	focused	focus	VERB
fsr-3774	7	26	on	on	ADP
fsr-3774	7	27	the	the	DET
fsr-3774	7	28	operational	operational	ADJ
fsr-3774	7	29	efficiency	efficiency	NOUN
fsr-3774	7	30	(	(	PUNCT
fsr-3774	7	31	or	or	CCONJ
fsr-3774	7	32	internal	internal	ADJ
fsr-3774	7	33	efficiency	efficiency	NOUN
fsr-3774	7	34	)	)	PUNCT
fsr-3774	7	35	of	of	ADP
fsr-3774	7	36	these	these	DET
fsr-3774	7	37	markets	market	NOUN
fsr-3774	7	38	,	,	PUNCT
fsr-3774	7	39	by	by	ADP
fsr-3774	7	40	examining	examine	VERB
fsr-3774	7	41	broker	broker	NOUN
fsr-3774	7	42	com	com	NOUN
fsr-3774	7	43	missions	mission	NOUN
fsr-3774	7	44	and	and	CCONJ
fsr-3774	7	45	dealer	dealer	NOUN
fsr-3774	7	46	spreads	spread	NOUN
fsr-3774	7	47	.	.	PUNCT
fsr-3774	8	1	however	however	ADV
fsr-3774	8	2	,	,	PUNCT
fsr-3774	8	3	little	little	ADJ
fsr-3774	8	4	has	have	AUX
fsr-3774	8	5	been	be	AUX
fsr-3774	8	6	written	write	VERB
fsr-3774	8	7	about	about	ADP
fsr-3774	8	8	the	the	DET
fsr-3774	8	9	trading	trading	NOUN
fsr-3774	8	10	behavior	behavior	NOUN
fsr-3774	8	11	of	of	ADP
fsr-3774	8	12	brokers	broker	NOUN
fsr-3774	8	13	and	and	CCONJ
fsr-3774	8	14	dealers	dealer	NOUN
fsr-3774	8	15	,	,	PUNCT
fsr-3774	8	16	and	and	CCONJ
fsr-3774	8	17	how	how	SCONJ
fsr-3774	8	18	their	their	PRON
fsr-3774	8	19	behavior	behavior	NOUN
fsr-3774	8	20	may	may	AUX
fsr-3774	8	21	independently	independently	ADV
fsr-3774	8	22	influence	influence	VERB
fsr-3774	8	23	the	the	DET
fsr-3774	8	24	trading	trading	NOUN
fsr-3774	8	25	patterns	pattern	NOUN
fsr-3774	8	26	and	and	CCONJ
fsr-3774	8	27	the	the	DET
fsr-3774	8	28	costs	cost	NOUN
fsr-3774	8	29	of	of	ADP
fsr-3774	8	30	trading	trading	NOUN
fsr-3774	8	31	for	for	ADP
fsr-3774	8	32	individual	individual	ADJ
fsr-3774	8	33	investors	investor	NOUN
fsr-3774	8	34	.	.	PUNCT
fsr-3774	9	1	it	it	PRON
fsr-3774	9	2	is	be	AUX
fsr-3774	9	3	possible	possible	ADJ
fsr-3774	9	4	that	that	SCONJ
fsr-3774	9	5	the	the	DET
fsr-3774	9	6	trading	trading	NOUN
fsr-3774	9	7	behavior	behavior	NOUN
fsr-3774	9	8	of	of	ADP
fsr-3774	9	9	brokers	broker	NOUN
fsr-3774	9	10	may	may	AUX
fsr-3774	9	11	have	have	VERB
fsr-3774	9	12	a	a	DET
fsr-3774	9	13	significant	significant	ADJ
fsr-3774	9	14	impact	impact	NOUN
fsr-3774	9	15	on	on	ADP
fsr-3774	9	16	the	the	DET
fsr-3774	9	17	welfare	welfare	NOUN
fsr-3774	9	18	of	of	ADP
fsr-3774	9	19	the	the	DET
fsr-3774	9	20	clients	client	NOUN
fsr-3774	9	21	for	for	ADP
fsr-3774	9	22	whom	whom	PRON
fsr-3774	9	23	they	they	PRON
fsr-3774	9	24	make	make	VERB
fsr-3774	9	25	trades	trade	NOUN
fsr-3774	9	26	.	.	PUNCT
fsr-3774	10	1	the	the	DET
fsr-3774	10	2	trading	trading	NOUN
fsr-3774	10	3	behavior	behavior	NOUN
fsr-3774	10	4	could	could	AUX
fsr-3774	10	5	additionally	additionally	ADV
fsr-3774	10	6	affect	affect	VERB
fsr-3774	10	7	the	the	DET
fsr-3774	10	8	profitability	profitability	NOUN
fsr-3774	10	9	of	of	ADP
fsr-3774	10	10	the	the	DET
fsr-3774	10	11	firms	firm	NOUN
fsr-3774	10	12	for	for	ADP
fsr-3774	10	13	whom	whom	PRON
fsr-3774	10	14	the	the	DET
fsr-3774	10	15	brokers	broker	NOUN
fsr-3774	10	16	are	be	AUX
fsr-3774	10	17	employed	employ	VERB
fsr-3774	10	18	and	and	CCONJ
fsr-3774	10	19	the	the	DET
fsr-3774	10	20	trading	trading	NOUN
fsr-3774	10	21	efficiency	efficiency	NOUN
fsr-3774	10	22	(	(	PUNCT
fsr-3774	10	23	or	or	CCONJ
fsr-3774	10	24	“	"	PUNCT
fsr-3774	10	25	inside	inside	ADJ
fsr-3774	10	26	”	"	PUNCT
fsr-3774	10	27	efficiency	efficiency	NOUN
fsr-3774	10	28	)	)	PUNCT
fsr-3774	10	29	of	of	ADP
fsr-3774	10	30	the	the	DET
fsr-3774	10	31	financial	financial	ADJ
fsr-3774	10	32	markets	market	NOUN
fsr-3774	10	33	in	in	ADP
fsr-3774	10	34	which	which	PRON
fsr-3774	10	35	they	they	PRON
fsr-3774	10	36	operate	operate	VERB
fsr-3774	10	37	.	.	PUNCT
fsr-3774	11	1	the	the	DET
fsr-3774	11	2	purpose	purpose	NOUN
fsr-3774	11	3	of	of	ADP
fsr-3774	11	4	the	the	DET
fsr-3774	11	5	paper	paper	NOUN
fsr-3774	11	6	is	be	AUX
fsr-3774	11	7	to	to	PART
fsr-3774	11	8	investigate	investigate	VERB
fsr-3774	11	9	whether	whether	SCONJ
fsr-3774	11	10	individual	individual	ADJ
fsr-3774	11	11	brokers	broker	NOUN
fsr-3774	11	12	have	have	VERB
fsr-3774	11	13	an	an	DET
fsr-3774	11	14	intramonth	intramonth	ADJ
fsr-3774	11	15	pattern	pattern	NOUN
fsr-3774	11	16	of	of	ADP
fsr-3774	11	17	stock	stock	NOUN
fsr-3774	11	18	trading	trading	NOUN
fsr-3774	11	19	that	that	PRON
fsr-3774	11	20	is	be	AUX
fsr-3774	11	21	influenced	influence	VERB
fsr-3774	11	22	by	by	ADP
fsr-3774	11	23	the	the	DET
fsr-3774	11	24	structure	structure	NOUN
fsr-3774	11	25	of	of	ADP
fsr-3774	11	26	the	the	DET
fsr-3774	11	27	commission	commission	NOUN
fsr-3774	11	28	system	system	NOUN
fsr-3774	11	29	of	of	ADP
fsr-3774	11	30	earl	earl	PROPN
fsr-3774	11	31	d.	d.	PROPN
fsr-3774	11	32	benson	benson	PROPN
fsr-3774	11	33	and	and	CCONJ
fsr-3774	11	34	david	david	PROPN
fsr-3774	11	35	s.	s.	PROPN
fsr-3774	11	36	rystrom	rystrom	ADP
fsr-3774	11	37	l	l	PROPN
fsr-3774	11	38	depaitment	depaitment	NOUN
fsr-3774	11	39	of	of	ADP
fsr-3774	11	40	finance	finance	NOUN
fsr-3774	11	41	,	,	PUNCT
fsr-3774	11	42	marketing	marketing	NOUN
fsr-3774	11	43	,	,	PUNCT
fsr-3774	11	44	and	and	CCONJ
fsr-3774	11	45	decision	decision	NOUN
fsr-3774	11	46	sciences	science	NOUN
fsr-3774	11	47	,	,	PUNCT
fsr-3774	11	48	western	western	ADJ
fsr-3774	11	49	washington	washington	PROPN
fsr-3774	11	50	university	university	PROPN
fsr-3774	11	51	,	,	PUNCT
fsr-3774	11	52	bellingham	bellingham	PROPN
fsr-3774	11	53	,	,	PUNCT
fsr-3774	11	54	wa	wa	NOUN
fsr-3774	11	55	98225	98225	NUM
fsr-3774	11	56	.	.	PUNCT
fsr-3774	12	1	greg	greg	PROPN
fsr-3774	12	2	t.	t.	PROPN
fsr-3774	12	3	smersh	smersh	PROPN
fsr-3774	12	4	l	l	PROPN
fsr-3774	12	5	department	department	PROPN
fsr-3774	12	6	of	of	ADP
fsr-3774	12	7	finance	finance	NOUN
fsr-3774	12	8	,	,	PUNCT
fsr-3774	12	9	insurance	insurance	NOUN
fsr-3774	12	10	,	,	PUNCT
fsr-3774	12	11	and	and	CCONJ
fsr-3774	12	12	real	real	ADJ
fsr-3774	12	13	estate	estate	NOUN
fsr-3774	12	14	,	,	PUNCT
fsr-3774	12	15	college	college	NOUN
fsr-3774	12	16	of	of	ADP
fsr-3774	12	17	business	business	PROPN
fsr-3774	12	18	administration	administration	PROPN
fsr-3774	12	19	,	,	PUNCT
fsr-3774	12	20	university	university	PROPN
fsr-3774	12	21	of	of	ADP
fsr-3774	12	22	florida	florida	PROPN
fsr-3774	12	23	,	,	PUNCT
fsr-3774	12	24	gainesville	gainesville	PROPN
fsr-3774	12	25	,	,	PUNCT
fsr-3774	12	26	fl	fl	PROPN
fsr-3774	12	27	32611	32611	NUM
fsr-3774	12	28	.	.	PUNCT
fsr-3774	13	1	82	82	NUM
fsr-3774	13	2	financial	financial	ADJ
fsr-3774	13	3	services	service	NOUN
fsr-3774	13	4	review	review	NOUN
fsr-3774	13	5	4(2	4(2	NUM
fsr-3774	13	6	)	)	PUNCT
fsr-3774	13	7	1995	1995	NUM
fsr-3774	13	8	compensation	compensation	NOUN
fsr-3774	13	9	.	.	PUNCT
fsr-3774	14	1	to	to	PART
fsr-3774	14	2	do	do	VERB
fsr-3774	14	3	this	this	PRON
fsr-3774	14	4	,	,	PUNCT
fsr-3774	14	5	we	we	PRON
fsr-3774	14	6	first	first	ADV
fsr-3774	14	7	examine	examine	VERB
fsr-3774	14	8	the	the	DET
fsr-3774	14	9	intramonth	intramonth	ADJ
fsr-3774	14	10	trading	trading	NOUN
fsr-3774	14	11	activity	activity	NOUN
fsr-3774	14	12	of	of	ADP
fsr-3774	14	13	individual	individual	ADJ
fsr-3774	14	14	brokers	broker	NOUN
fsr-3774	14	15	of	of	ADP
fsr-3774	14	16	a	a	DET
fsr-3774	14	17	national	national	ADJ
fsr-3774	14	18	brokerage	brokerage	NOUN
fsr-3774	14	19	firm	firm	NOUN
fsr-3774	14	20	,	,	PUNCT
fsr-3774	14	21	and	and	CCONJ
fsr-3774	14	22	second	second	ADJ
fsr-3774	14	23	compare	compare	VERB
fsr-3774	14	24	this	this	PRON
fsr-3774	14	25	to	to	ADP
fsr-3774	14	26	trading	trading	NOUN
fsr-3774	14	27	volume	volume	NOUN
fsr-3774	14	28	in	in	ADP
fsr-3774	14	29	themarket	themarket	NOUN
fsr-3774	14	30	as	as	ADP
fsr-3774	14	31	a	a	DET
fsr-3774	14	32	whole	whole	NOUN
fsr-3774	14	33	.	.	PUNCT
fsr-3774	15	1	for	for	ADP
fsr-3774	15	2	the	the	DET
fsr-3774	15	3	firm	firm	NOUN
fsr-3774	15	4	examined	examine	VERB
fsr-3774	15	5	in	in	ADP
fsr-3774	15	6	this	this	DET
fsr-3774	15	7	study	study	NOUN
fsr-3774	15	8	,	,	PUNCT
fsr-3774	15	9	the	the	DET
fsr-3774	15	10	empirical	empirical	ADJ
fsr-3774	15	11	evidence	evidence	NOUN
fsr-3774	15	12	suggests	suggest	VERB
fsr-3774	15	13	that	that	SCONJ
fsr-3774	15	14	more	more	ADJ
fsr-3774	15	15	than	than	ADP
fsr-3774	15	16	one	one	NUM
fsr-3774	15	17	-	-	PUNCT
fsr-3774	15	18	fourth	fourth	NOUN
fsr-3774	15	19	of	of	ADP
fsr-3774	15	20	the	the	DET
fsr-3774	15	21	individual	individual	ADJ
fsr-3774	15	22	brokers	broker	NOUN
fsr-3774	15	23	studied	study	VERB
fsr-3774	15	24	do	do	AUX
fsr-3774	15	25	exhibit	exhibit	VERB
fsr-3774	15	26	an	an	DET
fsr-3774	15	27	unusual	unusual	ADJ
fsr-3774	15	28	trading	trading	NOUN
fsr-3774	15	29	pattern	pattern	NOUN
fsr-3774	15	30	that	that	PRON
fsr-3774	15	31	seems	seem	VERB
fsr-3774	15	32	to	to	PART
fsr-3774	15	33	be	be	AUX
fsr-3774	15	34	influenced	influence	VERB
fsr-3774	15	35	by	by	ADP
fsr-3774	15	36	the	the	DET
fsr-3774	15	37	commission	commission	NOUN
fsr-3774	15	38	structure	structure	NOUN
fsr-3774	15	39	.	.	PUNCT
fsr-3774	16	1	this	this	PRON
fsr-3774	16	2	leads	lead	VERB
fsr-3774	16	3	to	to	ADP
fsr-3774	16	4	the	the	DET
fsr-3774	16	5	questions	question	NOUN
fsr-3774	16	6	of	of	ADP
fsr-3774	16	7	whether	whether	SCONJ
fsr-3774	16	8	the	the	DET
fsr-3774	16	9	trading	trading	NOUN
fsr-3774	16	10	activities	activity	NOUN
fsr-3774	16	11	of	of	ADP
fsr-3774	16	12	these	these	DET
fsr-3774	16	13	brokers	broker	NOUN
fsr-3774	16	14	are	be	AUX
fsr-3774	16	15	always	always	ADV
fsr-3774	16	16	in	in	ADP
fsr-3774	16	17	the	the	DET
fsr-3774	16	18	clients	client	NOUN
fsr-3774	16	19	’	’	PART
fsr-3774	16	20	best	good	ADJ
fsr-3774	16	21	interests	interest	NOUN
fsr-3774	16	22	and	and	CCONJ
fsr-3774	16	23	whether	whether	SCONJ
fsr-3774	16	24	the	the	DET
fsr-3774	16	25	trading	trading	NOUN
fsr-3774	16	26	may	may	AUX
fsr-3774	16	27	sometimes	sometimes	ADV
fsr-3774	16	28	be	be	AUX
fsr-3774	16	29	motivated	motivate	VERB
fsr-3774	16	30	primarily	primarily	ADV
fsr-3774	16	31	by	by	ADP
fsr-3774	16	32	a	a	DET
fsr-3774	16	33	broker	broker	NOUN
fsr-3774	16	34	’s	’s	PART
fsr-3774	16	35	desire	desire	NOUN
fsr-3774	16	36	to	to	PART
fsr-3774	16	37	earn	earn	VERB
fsr-3774	16	38	commission	commission	NOUN
fsr-3774	16	39	income	income	NOUN
fsr-3774	16	40	.	.	PUNCT
fsr-3774	17	1	the	the	DET
fsr-3774	17	2	latter	latter	ADJ
fsr-3774	17	3	would	would	AUX
fsr-3774	17	4	suggest	suggest	VERB
fsr-3774	17	5	that	that	SCONJ
fsr-3774	17	6	these	these	DET
fsr-3774	17	7	brokers	broker	NOUN
fsr-3774	17	8	at	at	ADP
fsr-3774	17	9	times	time	NOUN
fsr-3774	17	10	may	may	AUX
fsr-3774	17	11	be	be	AUX
fsr-3774	17	12	encouraging	encourage	VERB
fsr-3774	17	13	their	their	PRON
fsr-3774	17	14	clients	client	NOUN
fsr-3774	17	15	to	to	PART
fsr-3774	17	16	engage	engage	VERB
fsr-3774	17	17	in	in	ADP
fsr-3774	17	18	unnecessary	unnecessary	ADJ
fsr-3774	17	19	trading	trading	NOUN
fsr-3774	17	20	.	.	PUNCT
fsr-3774	18	1	for	for	ADP
fsr-3774	18	2	the	the	DET
fsr-3774	18	3	market	market	NOUN
fsr-3774	18	4	as	as	ADP
fsr-3774	18	5	a	a	DET
fsr-3774	18	6	whole	whole	NOUN
fsr-3774	18	7	,	,	PUNCT
fsr-3774	18	8	the	the	DET
fsr-3774	18	9	evidence	evidence	NOUN
fsr-3774	18	10	suggests	suggest	VERB
fsr-3774	18	11	that	that	SCONJ
fsr-3774	18	12	trading	trading	NOUN
fsr-3774	18	13	patterns	pattern	NOUN
fsr-3774	18	14	are	be	AUX
fsr-3774	18	15	not	not	PART
fsr-3774	18	16	uniform	uniform	ADJ
fsr-3774	18	17	across	across	ADP
fsr-3774	18	18	the	the	DET
fsr-3774	18	19	month	month	NOUN
fsr-3774	18	20	,	,	PUNCT
fsr-3774	18	21	whether	whether	SCONJ
fsr-3774	18	22	looking	look	VERB
fsr-3774	18	23	at	at	ADP
fsr-3774	18	24	total	total	ADJ
fsr-3774	18	25	nyse	nyse	PROPN
fsr-3774	18	26	trading	trading	NOUN
fsr-3774	18	27	volume	volume	NOUN
fsr-3774	18	28	or	or	CCONJ
fsr-3774	18	29	odd	odd	ADJ
fsr-3774	18	30	-	-	PUNCT
fsr-3774	18	31	lot	lot	NOUN
fsr-3774	18	32	trading	trading	NOUN
fsr-3774	18	33	volume	volume	NOUN
fsr-3774	18	34	.	.	PUNCT
fsr-3774	19	1	we	we	PRON
fsr-3774	19	2	then	then	ADV
fsr-3774	19	3	examine	examine	VERB
fsr-3774	19	4	the	the	DET
fsr-3774	19	5	intramonth	intramonth	NOUN
fsr-3774	19	6	,	,	PUNCT
fsr-3774	19	7	broker	broker	NOUN
fsr-3774	19	8	-	-	PUNCT
fsr-3774	19	9	motivated	motivate	VERB
fsr-3774	19	10	trading	trading	NOUN
fsr-3774	19	11	relative	relative	ADJ
fsr-3774	19	12	to	to	ADP
fsr-3774	19	13	the	the	DET
fsr-3774	19	14	identified	identify	VERB
fsr-3774	19	15	intra	intra	ADJ
fsr-3774	19	16	month	month	NOUN
fsr-3774	19	17	pattern	pattern	NOUN
fsr-3774	19	18	in	in	ADP
fsr-3774	19	19	nyse	nyse	PROPN
fsr-3774	19	20	trading	trading	NOUN
fsr-3774	19	21	.	.	PUNCT
fsr-3774	20	1	when	when	SCONJ
fsr-3774	20	2	this	this	PRON
fsr-3774	20	3	is	be	AUX
fsr-3774	20	4	done	do	VERB
fsr-3774	20	5	,	,	PUNCT
fsr-3774	20	6	about	about	ADV
fsr-3774	20	7	one	one	NUM
fsr-3774	20	8	-	-	PUNCT
fsr-3774	20	9	fourth	fourth	NOUN
fsr-3774	20	10	of	of	ADP
fsr-3774	20	11	the	the	DET
fsr-3774	20	12	brokers	broker	NOUN
fsr-3774	20	13	continue	continue	VERB
fsr-3774	20	14	to	to	PART
fsr-3774	20	15	exhibit	exhibit	VERB
fsr-3774	20	16	a	a	DET
fsr-3774	20	17	pattern	pattern	NOUN
fsr-3774	20	18	of	of	ADP
fsr-3774	20	19	commission	commission	NOUN
fsr-3774	20	20	-	-	PUNCT
fsr-3774	20	21	induced	induce	VERB
fsr-3774	20	22	trading	trading	NOUN
fsr-3774	20	23	.	.	PUNCT
fsr-3774	21	1	section	section	PROPN
fsr-3774	21	2	ii	ii	PROPN
fsr-3774	21	3	examines	examine	VERB
fsr-3774	21	4	the	the	DET
fsr-3774	21	5	motivations	motivation	NOUN
fsr-3774	21	6	for	for	ADP
fsr-3774	21	7	individuals	individual	NOUN
fsr-3774	21	8	to	to	PART
fsr-3774	21	9	trade	trade	VERB
fsr-3774	21	10	securities	security	NOUN
fsr-3774	21	11	and	and	CCONJ
fsr-3774	21	12	presents	present	VERB
fsr-3774	21	13	the	the	DET
fsr-3774	21	14	results	result	NOUN
fsr-3774	21	15	of	of	ADP
fsr-3774	21	16	previous	previous	ADJ
fsr-3774	21	17	research	research	NOUN
fsr-3774	21	18	on	on	ADP
fsr-3774	21	19	trading	trading	NOUN
fsr-3774	21	20	volume	volume	NOUN
fsr-3774	21	21	.	.	PUNCT
fsr-3774	22	1	the	the	DET
fsr-3774	22	2	methodology	methodology	NOUN
fsr-3774	22	3	and	and	CCONJ
fsr-3774	22	4	data	datum	NOUN
fsr-3774	22	5	are	be	AUX
fsr-3774	22	6	explained	explain	VERB
fsr-3774	22	7	in	in	ADP
fsr-3774	22	8	section	section	PROPN
fsr-3774	22	9	iii	iii	PROPN
fsr-3774	22	10	.	.	PUNCT
fsr-3774	23	1	the	the	DET
fsr-3774	23	2	empirical	empirical	ADJ
fsr-3774	23	3	findings	finding	NOUN
fsr-3774	23	4	for	for	ADP
fsr-3774	23	5	a	a	DET
fsr-3774	23	6	sample	sample	NOUN
fsr-3774	23	7	of	of	ADP
fsr-3774	23	8	brokers	broker	NOUN
fsr-3774	23	9	from	from	ADP
fsr-3774	23	10	a	a	DET
fsr-3774	23	11	national	national	ADJ
fsr-3774	23	12	brokerage	brokerage	NOUN
fsr-3774	23	13	firm	firm	NOUN
fsr-3774	23	14	are	be	AUX
fsr-3774	23	15	included	include	VERB
fsr-3774	23	16	in	in	ADP
fsr-3774	23	17	section	section	NOUN
fsr-3774	23	18	iv	iv	NUM
fsr-3774	23	19	,	,	PUNCT
fsr-3774	23	20	and	and	CCONJ
fsr-3774	23	21	an	an	DET
fsr-3774	23	22	analysis	analysis	NOUN
fsr-3774	23	23	of	of	ADP
fsr-3774	23	24	nyse	nyse	PROPN
fsr-3774	23	25	total	total	PROPN
fsr-3774	23	26	volume	volume	NOUN
fsr-3774	23	27	and	and	CCONJ
fsr-3774	23	28	nyse	nyse	PROPN
fsr-3774	23	29	odd	odd	ADJ
fsr-3774	23	30	-	-	PUNCT
fsr-3774	23	31	lot	lot	NOUN
fsr-3774	23	32	trading	trading	NOUN
fsr-3774	23	33	volume	volume	NOUN
fsr-3774	23	34	is	be	AUX
fsr-3774	23	35	in	in	ADP
fsr-3774	23	36	section	section	NOUN
fsr-3774	23	37	v.	v.	ADP
fsr-3774	23	38	section	section	PROPN
fsr-3774	23	39	vi	vi	PROPN
fsr-3774	23	40	builds	build	VERB
fsr-3774	23	41	on	on	ADP
fsr-3774	23	42	the	the	DET
fsr-3774	23	43	empirical	empirical	ADJ
fsr-3774	23	44	findings	finding	NOUN
fsr-3774	23	45	of	of	ADP
fsr-3774	23	46	section	section	NOUN
fsr-3774	23	47	iv	iv	NUM
fsr-3774	23	48	by	by	ADP
fsr-3774	23	49	comparing	compare	VERB
fsr-3774	23	50	broker	broker	NOUN
fsr-3774	23	51	trading	trading	NOUN
fsr-3774	23	52	with	with	ADP
fsr-3774	23	53	nyse	nyse	PROPN
fsr-3774	23	54	trading	trading	NOUN
fsr-3774	23	55	volume	volume	NOUN
fsr-3774	23	56	.	.	PUNCT
fsr-3774	24	1	section	section	NOUN
fsr-3774	24	2	vii	vii	PROPN
fsr-3774	24	3	provides	provide	VERB
fsr-3774	24	4	a	a	DET
fsr-3774	24	5	summary	summary	NOUN
fsr-3774	24	6	and	and	CCONJ
fsr-3774	24	7	the	the	DET
fsr-3774	24	8	implications	implication	NOUN
fsr-3774	24	9	of	of	ADP
fsr-3774	24	10	this	this	DET
fsr-3774	24	11	research	research	NOUN
fsr-3774	24	12	.	.	PUNCT
fsr-3774	25	1	ii	ii	PROPN
fsr-3774	25	2	.	.	PUNCT
fsr-3774	26	1	the	the	DET
fsr-3774	26	2	motivation	motivation	NOUN
fsr-3774	26	3	for	for	ADP
fsr-3774	26	4	trading	trading	NOUN
fsr-3774	26	5	and	and	CCONJ
fsr-3774	26	6	trading	trading	NOUN
fsr-3774	26	7	volume	volume	NOUN
fsr-3774	26	8	the	the	DET
fsr-3774	26	9	focus	focus	NOUN
fsr-3774	26	10	in	in	ADP
fsr-3774	26	11	this	this	DET
fsr-3774	26	12	paper	paper	NOUN
fsr-3774	26	13	is	be	AUX
fsr-3774	26	14	on	on	ADP
fsr-3774	26	15	within	within	ADP
fsr-3774	26	16	-	-	PUNCT
fsr-3774	26	17	month	month	NOUN
fsr-3774	26	18	stock	stock	NOUN
fsr-3774	26	19	trading	trading	NOUN
fsr-3774	26	20	.	.	PUNCT
fsr-3774	27	1	to	to	PART
fsr-3774	27	2	gain	gain	VERB
fsr-3774	27	3	a	a	DET
fsr-3774	27	4	better	well	ADJ
fsr-3774	27	5	understanding	understanding	NOUN
fsr-3774	27	6	of	of	ADP
fsr-3774	27	7	individual	individual	ADJ
fsr-3774	27	8	trading	trading	NOUN
fsr-3774	27	9	and	and	CCONJ
fsr-3774	27	10	trading	trading	NOUN
fsr-3774	27	11	volume	volume	NOUN
fsr-3774	27	12	,	,	PUNCT
fsr-3774	27	13	we	we	PRON
fsr-3774	27	14	first	first	ADV
fsr-3774	27	15	review	review	VERB
fsr-3774	27	16	previous	previous	ADJ
fsr-3774	27	17	research	research	NOUN
fsr-3774	27	18	regarding	regard	VERB
fsr-3774	27	19	the	the	DET
fsr-3774	27	20	motivations	motivation	NOUN
fsr-3774	27	21	for	for	ADP
fsr-3774	27	22	trading	trading	NOUN
fsr-3774	27	23	securities	security	NOUN
fsr-3774	27	24	and	and	CCONJ
fsr-3774	27	25	the	the	DET
fsr-3774	27	26	empirical	empirical	ADJ
fsr-3774	27	27	evidence	evidence	NOUN
fsr-3774	27	28	on	on	ADP
fsr-3774	27	29	trading	trading	NOUN
fsr-3774	27	30	volume	volume	NOUN
fsr-3774	27	31	.	.	PUNCT
fsr-3774	28	1	this	this	DET
fsr-3774	28	2	review	review	NOUN
fsr-3774	28	3	illuminates	illuminate	VERB
fsr-3774	28	4	what	what	DET
fsr-3774	28	5	type	type	NOUN
fsr-3774	28	6	of	of	ADP
fsr-3774	28	7	distribution	distribution	NOUN
fsr-3774	28	8	of	of	ADP
fsr-3774	28	9	securities	security	NOUN
fsr-3774	28	10	trading	trading	NOUN
fsr-3774	28	11	across	across	ADP
fsr-3774	28	12	a	a	DET
fsr-3774	28	13	given	give	VERB
fsr-3774	28	14	month	month	NOUN
fsr-3774	28	15	may	may	AUX
fsr-3774	28	16	be	be	AUX
fsr-3774	28	17	expected	expect	VERB
fsr-3774	28	18	.	.	PUNCT
fsr-3774	29	1	several	several	ADJ
fsr-3774	29	2	authors	author	NOUN
fsr-3774	29	3	have	have	AUX
fsr-3774	29	4	attempted	attempt	VERB
fsr-3774	29	5	to	to	PART
fsr-3774	29	6	identify	identify	VERB
fsr-3774	29	7	the	the	DET
fsr-3774	29	8	motives	motive	NOUN
fsr-3774	29	9	for	for	ADP
fsr-3774	29	10	securities	security	NOUN
fsr-3774	29	11	trading	trading	NOUN
fsr-3774	29	12	.	.	PUNCT
fsr-3774	30	1	treynor	treynor	NOUN
fsr-3774	30	2	and	and	CCONJ
fsr-3774	30	3	wagner	wagner	PROPN
fsr-3774	30	4	(	(	PUNCT
fsr-3774	30	5	1990	1990	NUM
fsr-3774	30	6	)	)	PUNCT
fsr-3774	30	7	classify	classify	VERB
fsr-3774	30	8	traders	trader	NOUN
fsr-3774	30	9	according	accord	VERB
fsr-3774	30	10	to	to	ADP
fsr-3774	30	11	four	four	NUM
fsr-3774	30	12	potential	potential	ADJ
fsr-3774	30	13	motives	motive	NOUN
fsr-3774	30	14	:	:	PUNCT
fsr-3774	30	15	value	value	NOUN
fsr-3774	30	16	-	-	PUNCT
fsr-3774	30	17	based	base	VERB
fsr-3774	30	18	traders	trader	NOUN
fsr-3774	30	19	,	,	PUNCT
fsr-3774	30	20	information	information	NOUN
fsr-3774	30	21	-	-	PUNCT
fsr-3774	30	22	based	base	VERB
fsr-3774	30	23	traders	trader	NOUN
fsr-3774	30	24	,	,	PUNCT
fsr-3774	30	25	pseudo	pseudo	NOUN
fsr-3774	30	26	-	-	NOUN
fsr-3774	30	27	information	information	NOUN
fsr-3774	30	28	-	-	PUNCT
fsr-3774	30	29	based	base	VERB
fsr-3774	30	30	traders	trader	NOUN
fsr-3774	30	31	,	,	PUNCT
fsr-3774	30	32	and	and	CCONJ
fsr-3774	30	33	liquidity	liquidity	NOUN
fsr-3774	30	34	-	-	PUNCT
fsr-3774	30	35	based	base	VERB
fsr-3774	30	36	traders	trader	NOUN
fsr-3774	30	37	.	.	PUNCT
fsr-3774	31	1	admati	admati	PROPN
fsr-3774	31	2	and	and	CCONJ
fsr-3774	31	3	pfleiderer	pfleiderer	NOUN
fsr-3774	31	4	(	(	PUNCT
fsr-3774	31	5	1988	1988	NUM
fsr-3774	31	6	)	)	PUNCT
fsr-3774	31	7	develop	develop	VERB
fsr-3774	31	8	a	a	DET
fsr-3774	31	9	model	model	NOUN
fsr-3774	31	10	of	of	ADP
fsr-3774	31	11	transacting	transact	VERB
fsr-3774	31	12	that	that	PRON
fsr-3774	31	13	classifies	classify	VERB
fsr-3774	31	14	traders	trader	NOUN
fsr-3774	31	15	as	as	ADP
fsr-3774	31	16	being	be	AUX
fsr-3774	31	17	either	either	CCONJ
fsr-3774	31	18	informed	informed	ADJ
fsr-3774	31	19	traders	trader	NOUN
fsr-3774	31	20	,	,	PUNCT
fsr-3774	31	21	discretionary	discretionary	ADJ
fsr-3774	31	22	liquidity	liquidity	NOUN
fsr-3774	31	23	traders	trader	NOUN
fsr-3774	31	24	,	,	PUNCT
fsr-3774	31	25	or	or	CCONJ
fsr-3774	31	26	nondiscretionary	nondiscretionary	ADJ
fsr-3774	31	27	liquidity	liquidity	NOUN
fsr-3774	31	28	traders	trader	NOUN
fsr-3774	31	29	.	.	PUNCT
fsr-3774	32	1	lakonishok	lakonishok	NOUN
fsr-3774	32	2	and	and	CCONJ
fsr-3774	32	3	smidt	smidt	NOUN
fsr-3774	32	4	(	(	PUNCT
fsr-3774	32	5	1986	1986	NUM
fsr-3774	32	6	)	)	PUNCT
fsr-3774	32	7	discuss	discuss	VERB
fsr-3774	32	8	tax	tax	NOUN
fsr-3774	32	9	-	-	PUNCT
fsr-3774	32	10	motivated	motivate	VERB
fsr-3774	32	11	traders	trader	NOUN
fsr-3774	32	12	.	.	PUNCT
fsr-3774	33	1	these	these	DET
fsr-3774	33	2	models	model	NOUN
fsr-3774	33	3	have	have	AUX
fsr-3774	33	4	been	be	AUX
fsr-3774	33	5	used	use	VERB
fsr-3774	33	6	to	to	PART
fsr-3774	33	7	attempt	attempt	VERB
fsr-3774	33	8	to	to	PART
fsr-3774	33	9	explain	explain	VERB
fsr-3774	33	10	calendar	calendar	NOUN
fsr-3774	33	11	price	price	NOUN
fsr-3774	33	12	anomalies	anomaly	NOUN
fsr-3774	33	13	.	.	PUNCT
fsr-3774	34	1	for	for	ADP
fsr-3774	34	2	instance	instance	NOUN
fsr-3774	34	3	,	,	PUNCT
fsr-3774	34	4	the	the	DET
fsr-3774	34	5	admati	admati	NOUN
fsr-3774	34	6	and	and	CCONJ
fsr-3774	34	7	pfleiderer	pfleiderer	NOUN
fsr-3774	34	8	model	model	NOUN
fsr-3774	34	9	may	may	AUX
fsr-3774	34	10	help	help	VERB
fsr-3774	34	11	to	to	PART
fsr-3774	34	12	explain	explain	VERB
fsr-3774	34	13	intraday	intraday	NOUN
fsr-3774	34	14	trading	trading	NOUN
fsr-3774	34	15	patterns	pattern	NOUN
fsr-3774	34	16	.	.	PUNCT
fsr-3774	35	1	foster	foster	PROPN
fsr-3774	35	2	and	and	CCONJ
fsr-3774	35	3	viswanathan	viswanathan	PROPN
fsr-3774	35	4	(	(	PUNCT
fsr-3774	35	5	1990	1990	NUM
fsr-3774	35	6	)	)	PUNCT
fsr-3774	35	7	used	use	VERB
fsr-3774	35	8	a	a	DET
fsr-3774	35	9	model	model	NOUN
fsr-3774	35	10	that	that	PRON
fsr-3774	35	11	includes	include	VERB
fsr-3774	35	12	informed	informed	ADJ
fsr-3774	35	13	traders	trader	NOUN
fsr-3774	35	14	and	and	CCONJ
fsr-3774	35	15	liquidity	liquidity	NOUN
fsr-3774	35	16	traders	trader	NOUN
fsr-3774	35	17	to	to	PART
fsr-3774	35	18	help	help	VERB
fsr-3774	35	19	explain	explain	VERB
fsr-3774	35	20	interday	interday	NOUN
fsr-3774	35	21	trading	trading	NOUN
fsr-3774	35	22	.	.	PUNCT
fsr-3774	36	1	the	the	DET
fsr-3774	36	2	lakonishok	lakonishok	NOUN
fsr-3774	36	3	and	and	CCONJ
fsr-3774	36	4	smidt	smidt	ADJ
fsr-3774	36	5	article	article	NOUN
fsr-3774	36	6	focuses	focus	VERB
fsr-3774	36	7	on	on	ADP
fsr-3774	36	8	turn	turn	NOUN
fsr-3774	36	9	-	-	PUNCT
fsr-3774	36	10	of	of	ADP
fsr-3774	36	11	-	-	PUNCT
fsr-3774	36	12	the	the	DET
fsr-3774	36	13	-	-	PUNCT
fsr-3774	36	14	year	year	NOUN
fsr-3774	36	15	effects	effect	NOUN
fsr-3774	36	16	.	.	PUNCT
fsr-3774	37	1	these	these	DET
fsr-3774	37	2	articles	article	NOUN
fsr-3774	37	3	have	have	AUX
fsr-3774	37	4	been	be	AUX
fsr-3774	37	5	primarily	primarily	ADV
fsr-3774	37	6	concerned	concern	VERB
fsr-3774	37	7	with	with	ADP
fsr-3774	37	8	identifying	identify	VERB
fsr-3774	37	9	trading	trading	NOUN
fsr-3774	37	10	motivations	motivation	NOUN
fsr-3774	37	11	that	that	PRON
fsr-3774	37	12	might	might	AUX
fsr-3774	37	13	create	create	VERB
fsr-3774	37	14	unusual	unusual	ADJ
fsr-3774	37	15	patterns	pattern	NOUN
fsr-3774	37	16	of	of	ADP
fsr-3774	37	17	returns	return	NOUN
fsr-3774	37	18	.	.	PUNCT
fsr-3774	38	1	in	in	ADP
fsr-3774	38	2	a	a	DET
fsr-3774	38	3	market	market	NOUN
fsr-3774	38	4	where	where	SCONJ
fsr-3774	38	5	the	the	DET
fsr-3774	38	6	flow	flow	NOUN
fsr-3774	38	7	of	of	ADP
fsr-3774	38	8	information	information	NOUN
fsr-3774	38	9	and	and	CCONJ
fsr-3774	38	10	the	the	DET
fsr-3774	38	11	liquidity	liquidity	NOUN
fsr-3774	38	12	needs	need	NOUN
fsr-3774	38	13	of	of	ADP
fsr-3774	38	14	investors	investor	NOUN
fsr-3774	38	15	are	be	AUX
fsr-3774	38	16	randomly	randomly	ADV
fsr-3774	38	17	distributed	distribute	VERB
fsr-3774	38	18	,	,	PUNCT
fsr-3774	38	19	the	the	DET
fsr-3774	38	20	volume	volume	NOUN
fsr-3774	38	21	of	of	ADP
fsr-3774	38	22	buy	buy	VERB
fsr-3774	38	23	and	and	CCONJ
fsr-3774	38	24	sell	sell	VERB
fsr-3774	38	25	orders	order	NOUN
fsr-3774	38	26	should	should	AUX
fsr-3774	38	27	not	not	PART
fsr-3774	38	28	be	be	AUX
fsr-3774	38	29	concentrated	concentrate	VERB
fsr-3774	38	30	around	around	ADP
fsr-3774	38	31	any	any	DET
fsr-3774	38	32	particular	particular	ADJ
fsr-3774	38	33	time	time	NOUN
fsr-3774	38	34	within	within	ADP
fsr-3774	38	35	the	the	DET
fsr-3774	38	36	month	month	NOUN
fsr-3774	38	37	because	because	SCONJ
fsr-3774	38	38	buy	buy	VERB
fsr-3774	38	39	and	and	CCONJ
fsr-3774	38	40	sell	sell	VERB
fsr-3774	38	41	opportunities	opportunity	NOUN
fsr-3774	38	42	present	present	VERB
fsr-3774	38	43	themselves	themselves	PRON
fsr-3774	38	44	randomly	randomly	ADV
fsr-3774	38	45	across	across	ADP
fsr-3774	38	46	time	time	NOUN
fsr-3774	38	47	.	.	PUNCT
fsr-3774	39	1	in	in	ADP
fsr-3774	39	2	such	such	DET
fsr-3774	39	3	a	a	DET
fsr-3774	39	4	world	world	NOUN
fsr-3774	39	5	,	,	PUNCT
fsr-3774	39	6	the	the	DET
fsr-3774	39	7	intramonth	intramonth	ADJ
fsr-3774	39	8	trading	trading	NOUN
fsr-3774	39	9	volume	volume	NOUN
fsr-3774	39	10	across	across	ADP
fsr-3774	39	11	the	the	DET
fsr-3774	39	12	entire	entire	ADJ
fsr-3774	39	13	commission	commission	NOUN
fsr-3774	39	14	-	-	PUNCT
fsr-3774	39	15	motivated	motivate	VERB
fsr-3774	39	16	trading	trading	NOUN
fsr-3774	39	17	patterns	pattern	NOUN
fsr-3774	39	18	of	of	ADP
fsr-3774	39	19	brokers	broker	NOUN
fsr-3774	39	20	83	83	NUM
fsr-3774	39	21	market	market	NOUN
fsr-3774	39	22	may	may	AUX
fsr-3774	39	23	be	be	AUX
fsr-3774	39	24	expected	expect	VERB
fsr-3774	39	25	to	to	PART
fsr-3774	39	26	be	be	AUX
fsr-3774	39	27	uniformly	uniformly	ADV
fsr-3774	39	28	distributed	distribute	VERB
fsr-3774	39	29	across	across	ADP
fsr-3774	39	30	the	the	DET
fsr-3774	39	31	month	month	NOUN
fsr-3774	39	32	.	.	PUNCT
fsr-3774	40	1	likewise	likewise	ADV
fsr-3774	40	2	,	,	PUNCT
fsr-3774	40	3	the	the	DET
fsr-3774	40	4	dollar	dollar	NOUN
fsr-3774	40	5	volume	volume	NOUN
fsr-3774	40	6	of	of	ADP
fsr-3774	40	7	an	an	DET
fsr-3774	40	8	individual	individual	ADJ
fsr-3774	40	9	broker	broker	NOUN
fsr-3774	40	10	’s	’s	PART
fsr-3774	40	11	trades	trade	NOUN
fsr-3774	40	12	also	also	ADV
fsr-3774	40	13	may	may	AUX
fsr-3774	40	14	be	be	AUX
fsr-3774	40	15	expected	expect	VERB
fsr-3774	40	16	to	to	PART
fsr-3774	40	17	conform	conform	VERB
fsr-3774	40	18	roughly	roughly	ADV
fsr-3774	40	19	to	to	ADP
fsr-3774	40	20	a	a	DET
fsr-3774	40	21	uniform	uniform	ADJ
fsr-3774	40	22	distribution	distribution	NOUN
fsr-3774	40	23	.	.	PUNCT
fsr-3774	41	1	on	on	ADP
fsr-3774	41	2	the	the	DET
fsr-3774	41	3	other	other	ADJ
fsr-3774	41	4	hand	hand	NOUN
fsr-3774	41	5	,	,	PUNCT
fsr-3774	41	6	if	if	SCONJ
fsr-3774	41	7	the	the	DET
fsr-3774	41	8	information	information	NOUN
fsr-3774	41	9	flows	flow	VERB
fsr-3774	41	10	or	or	CCONJ
fsr-3774	41	11	liquidity	liquidity	NOUN
fsr-3774	41	12	needs	need	NOUN
fsr-3774	41	13	are	be	AUX
fsr-3774	41	14	concentrated	concentrate	VERB
fsr-3774	41	15	in	in	ADP
fsr-3774	41	16	a	a	DET
fsr-3774	41	17	pattern	pattern	NOUN
fsr-3774	41	18	that	that	PRON
fsr-3774	41	19	regularly	regularly	ADV
fsr-3774	41	20	recurs	recur	VERB
fsr-3774	41	21	across	across	ADP
fsr-3774	41	22	months	month	NOUN
fsr-3774	41	23	,	,	PUNCT
fsr-3774	41	24	one	one	PRON
fsr-3774	41	25	would	would	AUX
fsr-3774	41	26	expect	expect	VERB
fsr-3774	41	27	something	something	PRON
fsr-3774	41	28	other	other	ADJ
fsr-3774	41	29	than	than	ADP
fsr-3774	41	30	a	a	DET
fsr-3774	41	31	uniform	uniform	ADJ
fsr-3774	41	32	distribution	distribution	NOUN
fsr-3774	41	33	of	of	ADP
fsr-3774	41	34	intramonth	intramonth	NOUN
fsr-3774	41	35	trading	trading	NOUN
fsr-3774	41	36	.	.	PUNCT
fsr-3774	42	1	thompson	thompson	PROPN
fsr-3774	42	2	,	,	PUNCT
fsr-3774	42	3	olsen	olsen	NOUN
fsr-3774	42	4	,	,	PUNCT
fsr-3774	42	5	and	and	CCONJ
fsr-3774	42	6	dietrich	dietrich	PROPN
fsr-3774	42	7	(	(	PUNCT
fsr-3774	42	8	1987	1987	NUM
fsr-3774	42	9	)	)	PUNCT
fsr-3774	42	10	show	show	VERB
fsr-3774	42	11	that	that	SCONJ
fsr-3774	42	12	season	season	NOUN
fsr-3774	42	13	alities	alitie	NOUN
fsr-3774	42	14	exist	exist	VERB
fsr-3774	42	15	in	in	ADP
fsr-3774	42	16	the	the	DET
fsr-3774	42	17	flow	flow	NOUN
fsr-3774	42	18	of	of	ADP
fsr-3774	42	19	information	information	NOUN
fsr-3774	42	20	.	.	PUNCT
fsr-3774	43	1	in	in	ADP
fsr-3774	43	2	their	their	PRON
fsr-3774	43	3	study	study	NOUN
fsr-3774	43	4	,	,	PUNCT
fsr-3774	43	5	information	information	NOUN
fsr-3774	43	6	flows	flow	VERB
fsr-3774	43	7	varied	varied	ADJ
fsr-3774	43	8	across	across	ADP
fsr-3774	43	9	days	day	NOUN
fsr-3774	43	10	of	of	ADP
fsr-3774	43	11	the	the	DET
fsr-3774	43	12	week	week	NOUN
fsr-3774	43	13	and	and	CCONJ
fsr-3774	43	14	across	across	ADP
fsr-3774	43	15	months	month	NOUN
fsr-3774	43	16	of	of	ADP
fsr-3774	43	17	the	the	DET
fsr-3774	43	18	year	year	NOUN
fsr-3774	43	19	,	,	PUNCT
fsr-3774	43	20	but	but	CCONJ
fsr-3774	43	21	they	they	PRON
fsr-3774	43	22	did	do	AUX
fsr-3774	43	23	not	not	PART
fsr-3774	43	24	examine	examine	VERB
fsr-3774	43	25	intramonth	intramonth	ADJ
fsr-3774	43	26	information	information	NOUN
fsr-3774	43	27	flows	flow	VERB
fsr-3774	43	28	.	.	PUNCT
fsr-3774	44	1	however	however	ADV
fsr-3774	44	2	,	,	PUNCT
fsr-3774	44	3	their	their	PRON
fsr-3774	44	4	results	result	NOUN
fsr-3774	44	5	suggest	suggest	VERB
fsr-3774	44	6	that	that	SCONJ
fsr-3774	44	7	some	some	DET
fsr-3774	44	8	seasonalities	seasonalitie	NOUN
fsr-3774	44	9	in	in	ADP
fsr-3774	44	10	the	the	DET
fsr-3774	44	11	flow	flow	NOUN
fsr-3774	44	12	of	of	ADP
fsr-3774	44	13	information	information	NOUN
fsr-3774	44	14	across	across	ADP
fsr-3774	44	15	the	the	DET
fsr-3774	44	16	month	month	NOUN
fsr-3774	44	17	could	could	AUX
fsr-3774	44	18	exist	exist	VERB
fsr-3774	44	19	as	as	ADV
fsr-3774	44	20	well	well	ADV
fsr-3774	44	21	.	.	PUNCT
fsr-3774	45	1	if	if	SCONJ
fsr-3774	45	2	information	information	NOUN
fsr-3774	45	3	flows	flow	NOUN
fsr-3774	45	4	are	be	AUX
fsr-3774	45	5	not	not	PART
fsr-3774	45	6	uniform	uniform	ADJ
fsr-3774	45	7	across	across	ADP
fsr-3774	45	8	the	the	DET
fsr-3774	45	9	month	month	NOUN
fsr-3774	45	10	,	,	PUNCT
fsr-3774	45	11	the	the	DET
fsr-3774	45	12	pattern	pattern	NOUN
fsr-3774	45	13	of	of	ADP
fsr-3774	45	14	intramonth	intramonth	NOUN
fsr-3774	45	15	trading	trading	NOUN
fsr-3774	45	16	volume	volume	NOUN
fsr-3774	45	17	would	would	AUX
fsr-3774	45	18	not	not	PART
fsr-3774	45	19	be	be	AUX
fsr-3774	45	20	expected	expect	VERB
fsr-3774	45	21	to	to	PART
fsr-3774	45	22	be	be	AUX
fsr-3774	45	23	uniform	uniform	ADJ
fsr-3774	45	24	.	.	PUNCT
fsr-3774	46	1	in	in	ADP
fsr-3774	46	2	this	this	DET
fsr-3774	46	3	case	case	NOUN
fsr-3774	46	4	,	,	PUNCT
fsr-3774	46	5	the	the	DET
fsr-3774	46	6	pattern	pattern	NOUN
fsr-3774	46	7	of	of	ADP
fsr-3774	46	8	individual	individual	ADJ
fsr-3774	46	9	broker	broker	NOUN
fsr-3774	46	10	trades	trade	NOUN
fsr-3774	46	11	across	across	ADP
fsr-3774	46	12	days	day	NOUN
fsr-3774	46	13	of	of	ADP
fsr-3774	46	14	the	the	DET
fsr-3774	46	15	month	month	NOUN
fsr-3774	46	16	may	may	AUX
fsr-3774	46	17	be	be	AUX
fsr-3774	46	18	expected	expect	VERB
fsr-3774	46	19	to	to	PART
fsr-3774	46	20	be	be	AUX
fsr-3774	46	21	similar	similar	ADJ
fsr-3774	46	22	to	to	ADP
fsr-3774	46	23	the	the	DET
fsr-3774	46	24	intramonth	intramonth	NOUN
fsr-3774	46	25	pattern	pattern	NOUN
fsr-3774	46	26	of	of	ADP
fsr-3774	46	27	trading	trading	NOUN
fsr-3774	46	28	in	in	ADP
fsr-3774	46	29	general	general	ADJ
fsr-3774	46	30	.	.	PUNCT
fsr-3774	46	31	’	'	PUNCT
fsr-3774	47	1	studies	study	NOUN
fsr-3774	47	2	of	of	ADP
fsr-3774	47	3	trading	trading	NOUN
fsr-3774	47	4	volume	volume	NOUN
fsr-3774	47	5	have	have	AUX
fsr-3774	47	6	focused	focus	VERB
fsr-3774	47	7	on	on	ADP
fsr-3774	47	8	the	the	DET
fsr-3774	47	9	relationship	relationship	NOUN
fsr-3774	47	10	between	between	ADP
fsr-3774	47	11	equity	equity	NOUN
fsr-3774	47	12	returns	return	NOUN
fsr-3774	47	13	and	and	CCONJ
fsr-3774	47	14	trading	trading	NOUN
fsr-3774	47	15	volume	volume	NOUN
fsr-3774	47	16	.	.	PUNCT
fsr-3774	48	1	for	for	ADP
fsr-3774	48	2	example	example	NOUN
fsr-3774	48	3	,	,	PUNCT
fsr-3774	48	4	karpoff	karpoff	X
fsr-3774	48	5	(	(	PUNCT
fsr-3774	48	6	1987	1987	NUM
fsr-3774	48	7	)	)	PUNCT
fsr-3774	48	8	reports	report	VERB
fsr-3774	48	9	that	that	SCONJ
fsr-3774	48	10	previous	previous	ADJ
fsr-3774	48	11	studies	study	NOUN
fsr-3774	48	12	suggest	suggest	VERB
fsr-3774	48	13	that	that	SCONJ
fsr-3774	48	14	a	a	DET
fsr-3774	48	15	rise	rise	NOUN
fsr-3774	48	16	in	in	ADP
fsr-3774	48	17	trading	trading	NOUN
fsr-3774	48	18	volume	volume	NOUN
fsr-3774	48	19	is	be	AUX
fsr-3774	48	20	associated	associate	VERB
fsr-3774	48	21	with	with	ADP
fsr-3774	48	22	large	large	ADJ
fsr-3774	48	23	absolute	absolute	ADJ
fsr-3774	48	24	price	price	NOUN
fsr-3774	48	25	changes	change	NOUN
fsr-3774	48	26	,	,	PUNCT
fsr-3774	48	27	that	that	SCONJ
fsr-3774	48	28	the	the	DET
fsr-3774	48	29	correlation	correlation	NOUN
fsr-3774	48	30	between	between	ADP
fsr-3774	48	31	volume	volume	NOUN
fsr-3774	48	32	and	and	CCONJ
fsr-3774	48	33	price	price	NOUN
fsr-3774	48	34	changes	change	NOUN
fsr-3774	48	35	is	be	AUX
fsr-3774	48	36	positive	positive	ADJ
fsr-3774	48	37	,	,	PUNCT
fsr-3774	48	38	and	and	CCONJ
fsr-3774	48	39	that	that	DET
fsr-3774	48	40	volume	volume	NOUN
fsr-3774	48	41	is	be	AUX
fsr-3774	48	42	higher	high	ADJ
fsr-3774	48	43	when	when	SCONJ
fsr-3774	48	44	prices	price	NOUN
fsr-3774	48	45	increase	increase	VERB
fsr-3774	48	46	than	than	ADP
fsr-3774	48	47	when	when	SCONJ
fsr-3774	48	48	prices	price	NOUN
fsr-3774	48	49	decrease	decrease	VERB
fsr-3774	48	50	.	.	PUNCT
fsr-3774	49	1	gallant	gallant	PROPN
fsr-3774	49	2	,	,	PUNCT
fsr-3774	49	3	rossi	rossi	ADJ
fsr-3774	49	4	,	,	PUNCT
fsr-3774	49	5	and	and	CCONJ
fsr-3774	49	6	tauchen	tauchen	NOUN
fsr-3774	49	7	(	(	PUNCT
fsr-3774	49	8	1992	1992	NUM
fsr-3774	49	9	)	)	PUNCT
fsr-3774	49	10	confirm	confirm	VERB
fsr-3774	49	11	the	the	DET
fsr-3774	49	12	above	above	ADJ
fsr-3774	49	13	findings	finding	NOUN
fsr-3774	49	14	and	and	CCONJ
fsr-3774	49	15	find	find	VERB
fsr-3774	49	16	that	that	SCONJ
fsr-3774	49	17	large	large	ADJ
fsr-3774	49	18	price	price	NOUN
fsr-3774	49	19	movements	movement	NOUN
fsr-3774	49	20	(	(	PUNCT
fsr-3774	49	21	both	both	CCONJ
fsr-3774	49	22	positive	positive	ADJ
fsr-3774	49	23	and	and	CCONJ
fsr-3774	49	24	negative	negative	ADJ
fsr-3774	49	25	)	)	PUNCT
fsr-3774	49	26	are	be	AUX
fsr-3774	49	27	followed	follow	VERB
fsr-3774	49	28	by	by	ADP
fsr-3774	49	29	high	high	ADJ
fsr-3774	49	30	volume	volume	NOUN
fsr-3774	49	31	.	.	PUNCT
fsr-3774	50	1	pettengill	pettengill	NOUN
fsr-3774	50	2	and	and	CCONJ
fsr-3774	50	3	jordan	jordan	PROPN
fsr-3774	50	4	(	(	PUNCT
fsr-3774	50	5	1988	1988	NUM
fsr-3774	50	6	)	)	PUNCT
fsr-3774	50	7	find	find	VERB
fsr-3774	50	8	that	that	SCONJ
fsr-3774	50	9	there	there	PRON
fsr-3774	50	10	are	be	VERB
fsr-3774	50	11	seasonal	seasonal	ADJ
fsr-3774	50	12	patterns	pattern	NOUN
fsr-3774	50	13	in	in	ADP
fsr-3774	50	14	trading	trading	NOUN
fsr-3774	50	15	volume	volume	NOUN
fsr-3774	50	16	similar	similar	ADJ
fsr-3774	50	17	to	to	PART
fsr-3774	50	18	return	return	VERB
fsr-3774	50	19	seasonalities	seasonalitie	NOUN
fsr-3774	50	20	.	.	PUNCT
fsr-3774	51	1	further	far	ADV
fsr-3774	51	2	,	,	PUNCT
fsr-3774	51	3	they	they	PRON
fsr-3774	51	4	report	report	VERB
fsr-3774	51	5	that	that	SCONJ
fsr-3774	51	6	their	their	PRON
fsr-3774	51	7	tests	test	NOUN
fsr-3774	51	8	suggest	suggest	VERB
fsr-3774	51	9	that	that	SCONJ
fsr-3774	51	10	there	there	PRON
fsr-3774	51	11	is	be	VERB
fsr-3774	51	12	a	a	DET
fsr-3774	51	13	strong	strong	ADJ
fsr-3774	51	14	positive	positive	ADJ
fsr-3774	51	15	relationship	relationship	NOUN
fsr-3774	51	16	between	between	ADP
fsr-3774	51	17	trading	trading	NOUN
fsr-3774	51	18	volume	volume	NOUN
fsr-3774	51	19	and	and	CCONJ
fsr-3774	51	20	return	return	NOUN
fsr-3774	51	21	and	and	CCONJ
fsr-3774	51	22	that	that	SCONJ
fsr-3774	51	23	causality	causality	NOUN
fsr-3774	51	24	tests	test	NOUN
fsr-3774	51	25	indicate	indicate	VERB
fsr-3774	51	26	that	that	SCONJ
fsr-3774	51	27	higher	high	ADJ
fsr-3774	51	28	volume	volume	NOUN
fsr-3774	51	29	leads	lead	VERB
fsr-3774	51	30	to	to	ADP
fsr-3774	51	31	higher	high	ADJ
fsr-3774	51	32	returns	return	NOUN
fsr-3774	51	33	(	(	PUNCT
fsr-3774	51	34	especially	especially	ADV
fsr-3774	51	35	for	for	ADP
fsr-3774	51	36	smaller	small	ADJ
fsr-3774	51	37	firms	firm	NOUN
fsr-3774	51	38	)	)	PUNCT
fsr-3774	51	39	.	.	PUNCT
fsr-3774	52	1	little	little	ADJ
fsr-3774	52	2	work	work	NOUN
fsr-3774	52	3	has	have	AUX
fsr-3774	52	4	been	be	AUX
fsr-3774	52	5	done	do	VERB
fsr-3774	52	6	regarding	regard	VERB
fsr-3774	52	7	trading	trading	NOUN
fsr-3774	52	8	volume	volume	NOUN
fsr-3774	52	9	alone	alone	ADV
fsr-3774	52	10	,	,	PUNCT
fsr-3774	52	11	other	other	ADJ
fsr-3774	52	12	than	than	ADP
fsr-3774	52	13	the	the	DET
fsr-3774	52	14	construction	construction	NOUN
fsr-3774	52	15	of	of	ADP
fsr-3774	52	16	models	model	NOUN
fsr-3774	52	17	to	to	PART
fsr-3774	52	18	explain	explain	VERB
fsr-3774	52	19	volume	volume	NOUN
fsr-3774	52	20	,	,	PUNCT
fsr-3774	52	21	such	such	ADJ
fsr-3774	52	22	as	as	ADP
fsr-3774	52	23	karpoff	karpoff	PROPN
fsr-3774	52	24	(	(	PUNCT
fsr-3774	52	25	1986	1986	NUM
fsr-3774	52	26	)	)	PUNCT
fsr-3774	52	27	.	.	PUNCT
fsr-3774	53	1	in	in	ADP
fsr-3774	53	2	the	the	DET
fsr-3774	53	3	literature	literature	NOUN
fsr-3774	53	4	regarding	regard	VERB
fsr-3774	53	5	seasonal	seasonal	ADJ
fsr-3774	53	6	return	return	NOUN
fsr-3774	53	7	anomalies	anomaly	NOUN
fsr-3774	53	8	,	,	PUNCT
fsr-3774	53	9	some	some	DET
fsr-3774	53	10	work	work	NOUN
fsr-3774	53	11	has	have	AUX
fsr-3774	53	12	been	be	AUX
fsr-3774	53	13	done	do	VERB
fsr-3774	53	14	to	to	PART
fsr-3774	53	15	test	test	VERB
fsr-3774	53	16	if	if	SCONJ
fsr-3774	53	17	there	there	PRON
fsr-3774	53	18	are	be	VERB
fsr-3774	53	19	any	any	DET
fsr-3774	53	20	systematic	systematic	ADJ
fsr-3774	53	21	return	return	NOUN
fsr-3774	53	22	patterns	pattern	NOUN
fsr-3774	53	23	associated	associate	VERB
fsr-3774	53	24	with	with	ADP
fsr-3774	53	25	the	the	DET
fsr-3774	53	26	months	month	NOUN
fsr-3774	53	27	of	of	ADP
fsr-3774	53	28	the	the	DET
fsr-3774	53	29	year	year	NOUN
fsr-3774	53	30	.	.	PUNCT
fsr-3774	54	1	several	several	ADJ
fsr-3774	54	2	authors	author	NOUN
fsr-3774	54	3	(	(	PUNCT
fsr-3774	54	4	e.g.	e.g.	ADV
fsr-3774	54	5	,	,	PUNCT
fsr-3774	54	6	jones	jones	PROPN
fsr-3774	54	7	,	,	PUNCT
fsr-3774	54	8	pearce	pearce	PROPN
fsr-3774	54	9	,	,	PUNCT
fsr-3774	54	10	&	&	CCONJ
fsr-3774	54	11	wilson	wilson	PROPN
fsr-3774	54	12	,	,	PUNCT
fsr-3774	54	13	1987	1987	NUM
fsr-3774	54	14	;	;	PUNCT
fsr-3774	54	15	roll	roll	NOUN
fsr-3774	54	16	,	,	PUNCT
fsr-3774	54	17	1983	1983	NUM
fsr-3774	54	18	)	)	PUNCT
fsr-3774	54	19	report	report	VERB
fsr-3774	54	20	a	a	DET
fsr-3774	54	21	turn	turn	VERB
fsr-3774	54	22	-	-	PUNCT
fsr-3774	54	23	of	of	ADP
fsr-3774	54	24	-	-	PUNCT
fsr-3774	54	25	the	the	DET
fsr-3774	54	26	-	-	PUNCT
fsr-3774	54	27	year	year	NOUN
fsr-3774	54	28	(	(	PUNCT
fsr-3774	54	29	or	or	CCONJ
fsr-3774	54	30	january	january	PROPN
fsr-3774	54	31	)	)	PUNCT
fsr-3774	54	32	effect	effect	NOUN
fsr-3774	54	33	.	.	PUNCT
fsr-3774	55	1	ritter	ritter	NOUN
fsr-3774	55	2	(	(	PUNCT
fsr-3774	55	3	1988	1988	NUM
fsr-3774	55	4	)	)	PUNCT
fsr-3774	55	5	provides	provide	VERB
fsr-3774	55	6	an	an	DET
fsr-3774	55	7	explanation	explanation	NOUN
fsr-3774	55	8	of	of	ADP
fsr-3774	55	9	the	the	DET
fsr-3774	55	10	turn	turn	NOUN
fsr-3774	55	11	-	-	PUNCT
fsr-3774	55	12	of	of	ADP
fsr-3774	55	13	-	-	PUNCT
fsr-3774	55	14	the	the	DET
fsr-3774	55	15	-	-	PUNCT
fsr-3774	55	16	year	year	NOUN
fsr-3774	55	17	effect	effect	NOUN
fsr-3774	55	18	for	for	ADP
fsr-3774	55	19	small	small	ADJ
fsr-3774	55	20	stocks	stock	NOUN
fsr-3774	55	21	.	.	PUNCT
fsr-3774	56	1	ariel	ariel	PROPN
fsr-3774	56	2	(	(	PUNCT
fsr-3774	56	3	1987	1987	NUM
fsr-3774	56	4	,	,	PUNCT
fsr-3774	56	5	1988	1988	NUM
fsr-3774	56	6	)	)	PUNCT
fsr-3774	56	7	reports	report	VERB
fsr-3774	56	8	that	that	SCONJ
fsr-3774	56	9	within	within	ADJ
fsr-3774	56	10	-	-	PUNCT
fsr-3774	56	11	month	month	NOUN
fsr-3774	56	12	returns	return	NOUN
fsr-3774	56	13	are	be	AUX
fsr-3774	56	14	positive	positive	ADJ
fsr-3774	56	15	for	for	ADP
fsr-3774	56	16	the	the	DET
fsr-3774	56	17	first	first	ADJ
fsr-3774	56	18	two	two	NUM
fsr-3774	56	19	weeks	week	NOUN
fsr-3774	56	20	of	of	ADP
fsr-3774	56	21	the	the	DET
fsr-3774	56	22	month	month	NOUN
fsr-3774	56	23	and	and	CCONJ
fsr-3774	56	24	negative	negative	ADJ
fsr-3774	56	25	for	for	ADP
fsr-3774	56	26	the	the	DET
fsr-3774	56	27	second	second	ADJ
fsr-3774	56	28	two	two	NUM
fsr-3774	56	29	weeks	week	NOUN
fsr-3774	56	30	.	.	PUNCT
fsr-3774	57	1	lakonishok	lakonishok	NOUN
fsr-3774	57	2	and	and	CCONJ
fsr-3774	57	3	smidt	smidt	NOUN
fsr-3774	57	4	(	(	PUNCT
fsr-3774	57	5	1988	1988	NUM
fsr-3774	57	6	)	)	PUNCT
fsr-3774	57	7	find	find	VERB
fsr-3774	57	8	a	a	DET
fsr-3774	57	9	strong	strong	ADJ
fsr-3774	57	10	turn	turn	NOUN
fsr-3774	57	11	-	-	PUNCT
fsr-3774	57	12	of	of	ADP
fsr-3774	57	13	-	-	PUNCT
fsr-3774	57	14	the	the	DET
fsr-3774	57	15	-	-	PUNCT
fsr-3774	57	16	month	month	NOUN
fsr-3774	57	17	effect	effect	NOUN
fsr-3774	57	18	for	for	ADP
fsr-3774	57	19	equities	equity	NOUN
fsr-3774	57	20	around	around	ADP
fsr-3774	57	21	the	the	DET
fsr-3774	57	22	end	end	NOUN
fsr-3774	57	23	of	of	ADP
fsr-3774	57	24	each	each	DET
fsr-3774	57	25	month	month	NOUN
fsr-3774	57	26	.	.	PUNCT
fsr-3774	58	1	pettengill	pettengill	NOUN
fsr-3774	58	2	and	and	CCONJ
fsr-3774	58	3	jordan	jordan	PROPN
fsr-3774	58	4	(	(	PUNCT
fsr-3774	58	5	1988	1988	NUM
fsr-3774	58	6	)	)	PUNCT
fsr-3774	58	7	find	find	VERB
fsr-3774	58	8	higher	high	ADJ
fsr-3774	58	9	returns	return	NOUN
fsr-3774	58	10	in	in	ADP
fsr-3774	58	11	the	the	DET
fsr-3774	58	12	first	first	ADJ
fsr-3774	58	13	and	and	CCONJ
fsr-3774	58	14	last	last	ADJ
fsr-3774	58	15	few	few	ADJ
fsr-3774	58	16	trading	trading	NOUN
fsr-3774	58	17	days	day	NOUN
fsr-3774	58	18	of	of	ADP
fsr-3774	58	19	each	each	DET
fsr-3774	58	20	month	month	NOUN
fsr-3774	58	21	.	.	PUNCT
fsr-3774	59	1	they	they	PRON
fsr-3774	59	2	,	,	PUNCT
fsr-3774	59	3	also	also	ADV
fsr-3774	59	4	,	,	PUNCT
fsr-3774	59	5	find	find	VERB
fsr-3774	59	6	higher	high	ADJ
fsr-3774	59	7	returns	return	NOUN
fsr-3774	59	8	in	in	ADP
fsr-3774	59	9	the	the	DET
fsr-3774	59	10	first	first	ADJ
fsr-3774	59	11	two	two	NUM
fsr-3774	59	12	weeks	week	NOUN
fsr-3774	59	13	of	of	ADP
fsr-3774	59	14	the	the	DET
fsr-3774	59	15	month	month	NOUN
fsr-3774	59	16	and	and	CCONJ
fsr-3774	59	17	negative	negative	ADJ
fsr-3774	59	18	returns	return	NOUN
fsr-3774	59	19	in	in	ADP
fsr-3774	59	20	the	the	DET
fsr-3774	59	21	third	third	ADJ
fsr-3774	59	22	week	week	NOUN
fsr-3774	59	23	.	.	PUNCT
fsr-3774	60	1	they	they	PRON
fsr-3774	60	2	say	say	VERB
fsr-3774	60	3	the	the	DET
fsr-3774	60	4	negative	negative	ADJ
fsr-3774	60	5	third	third	ADJ
fsr-3774	60	6	week	week	NOUN
fsr-3774	60	7	returns	return	NOUN
fsr-3774	60	8	are	be	AUX
fsr-3774	60	9	related	relate	VERB
fsr-3774	60	10	to	to	ADP
fsr-3774	60	11	the	the	DET
fsr-3774	60	12	expiration	expiration	NOUN
fsr-3774	60	13	of	of	ADP
fsr-3774	60	14	options	option	NOUN
fsr-3774	60	15	.	.	PUNCT
fsr-3774	61	1	none	none	NOUN
fsr-3774	61	2	of	of	ADP
fsr-3774	61	3	the	the	DET
fsr-3774	61	4	above	above	ADJ
fsr-3774	61	5	models	model	NOUN
fsr-3774	61	6	or	or	CCONJ
fsr-3774	61	7	empirical	empirical	ADJ
fsr-3774	61	8	work	work	NOUN
fsr-3774	61	9	have	have	AUX
fsr-3774	61	10	suggested	suggest	VERB
fsr-3774	61	11	that	that	SCONJ
fsr-3774	61	12	brokers	broker	NOUN
fsr-3774	61	13	’	’	PART
fsr-3774	61	14	motivations	motivation	NOUN
fsr-3774	61	15	and	and	CCONJ
fsr-3774	61	16	activities	activity	NOUN
fsr-3774	61	17	have	have	VERB
fsr-3774	61	18	an	an	DET
fsr-3774	61	19	effect	effect	NOUN
fsr-3774	61	20	on	on	ADP
fsr-3774	61	21	trading	trading	NOUN
fsr-3774	61	22	volume	volume	NOUN
fsr-3774	61	23	.	.	PUNCT
fsr-3774	62	1	to	to	ADP
fsr-3774	62	2	a	a	DET
fsr-3774	62	3	great	great	ADJ
fsr-3774	62	4	extent	extent	NOUN
fsr-3774	62	5	,	,	PUNCT
fsr-3774	62	6	the	the	DET
fsr-3774	62	7	models	model	NOUN
fsr-3774	62	8	have	have	AUX
fsr-3774	62	9	been	be	AUX
fsr-3774	62	10	formed	form	VERB
fsr-3774	62	11	to	to	PART
fsr-3774	62	12	attempt	attempt	VERB
fsr-3774	62	13	to	to	PART
fsr-3774	62	14	explain	explain	VERB
fsr-3774	62	15	well	well	ADV
fsr-3774	62	16	-	-	PUNCT
fsr-3774	62	17	documented	document	VERB
fsr-3774	62	18	empirical	empirical	ADJ
fsr-3774	62	19	return	return	NOUN
fsr-3774	62	20	anomalies	anomaly	NOUN
fsr-3774	62	21	.	.	PUNCT
fsr-3774	63	1	our	our	PRON
fsr-3774	63	2	hypothesis	hypothesis	NOUN
fsr-3774	63	3	,	,	PUNCT
fsr-3774	63	4	in	in	ADP
fsr-3774	63	5	contrast	contrast	NOUN
fsr-3774	63	6	,	,	PUNCT
fsr-3774	63	7	identifies	identify	VERB
fsr-3774	63	8	the	the	DET
fsr-3774	63	9	broker	broker	NOUN
fsr-3774	63	10	commission	commission	NOUN
fsr-3774	63	11	system	system	NOUN
fsr-3774	63	12	as	as	ADP
fsr-3774	63	13	a	a	DET
fsr-3774	63	14	motivating	motivating	ADJ
fsr-3774	63	15	source	source	NOUN
fsr-3774	63	16	of	of	ADP
fsr-3774	63	17	broker	broker	NOUN
fsr-3774	63	18	trading	trading	NOUN
fsr-3774	63	19	activities	activity	NOUN
fsr-3774	63	20	within	within	ADP
fsr-3774	63	21	each	each	DET
fsr-3774	63	22	month	month	NOUN
fsr-3774	63	23	and	and	CCONJ
fsr-3774	63	24	tests	test	NOUN
fsr-3774	63	25	if	if	SCONJ
fsr-3774	63	26	individual	individual	ADJ
fsr-3774	63	27	broker	broker	NOUN
fsr-3774	63	28	trading	trading	NOUN
fsr-3774	63	29	follows	follow	VERB
fsr-3774	63	30	this	this	DET
fsr-3774	63	31	pattern	pattern	NOUN
fsr-3774	63	32	.	.	PUNCT
fsr-3774	64	1	iii	iii	X
fsr-3774	64	2	.	.	PUNCT
fsr-3774	64	3	methodology	methodology	NOUN
fsr-3774	64	4	we	we	PRON
fsr-3774	64	5	hypothesize	hypothesize	VERB
fsr-3774	64	6	that	that	SCONJ
fsr-3774	64	7	trading	trading	NOUN
fsr-3774	64	8	activity	activity	NOUN
fsr-3774	64	9	may	may	AUX
fsr-3774	64	10	be	be	AUX
fsr-3774	64	11	biased	bias	VERB
fsr-3774	64	12	;	;	PUNCT
fsr-3774	64	13	that	that	ADV
fsr-3774	64	14	is	is	ADV
fsr-3774	64	15	,	,	PUNCT
fsr-3774	64	16	some	some	DET
fsr-3774	64	17	brokers	broker	NOUN
fsr-3774	64	18	may	may	AUX
fsr-3774	64	19	have	have	VERB
fsr-3774	64	20	an	an	DET
fsr-3774	64	21	uncharacteristically	uncharacteristically	ADV
fsr-3774	64	22	large	large	ADJ
fsr-3774	64	23	portion	portion	NOUN
fsr-3774	64	24	of	of	ADP
fsr-3774	64	25	their	their	PRON
fsr-3774	64	26	trades	trade	NOUN
fsr-3774	64	27	concentrated	concentrate	VERB
fsr-3774	64	28	within	within	ADP
fsr-3774	64	29	a	a	DET
fsr-3774	64	30	few	few	ADJ
fsr-3774	64	31	days	day	NOUN
fsr-3774	64	32	of	of	ADP
fsr-3774	64	33	the	the	DET
fsr-3774	64	34	month	month	NOUN
fsr-3774	64	35	.	.	PUNCT
fsr-3774	65	1	a4	a4	NOUN
fsr-3774	65	2	financial	financial	ADJ
fsr-3774	65	3	services	service	NOUN
fsr-3774	65	4	review	review	NOUN
fsr-3774	65	5	4(2	4(2	NUM
fsr-3774	65	6	)	)	PUNCT
fsr-3774	65	7	1995	1995	NUM
fsr-3774	66	1	this	this	DET
fsr-3774	66	2	trading	trading	NOUN
fsr-3774	66	3	pattern	pattern	NOUN
fsr-3774	66	4	may	may	AUX
fsr-3774	66	5	occur	occur	VERB
fsr-3774	66	6	because	because	SCONJ
fsr-3774	66	7	of	of	ADP
fsr-3774	66	8	the	the	DET
fsr-3774	66	9	incentive	incentive	NOUN
fsr-3774	66	10	com	com	NOUN
fsr-3774	66	11	~	~	NOUN
fsr-3774	66	12	nsation	nsation	NOUN
fsr-3774	66	13	system	system	NOUN
fsr-3774	66	14	used	use	VERB
fsr-3774	66	15	in	in	ADP
fsr-3774	66	16	most	most	ADJ
fsr-3774	66	17	brokerage	brokerage	NOUN
fsr-3774	66	18	firms	firm	NOUN
fsr-3774	66	19	.	.	PUNCT
fsr-3774	67	1	brokers	broker	NOUN
fsr-3774	67	2	are	be	AUX
fsr-3774	67	3	paid	pay	VERB
fsr-3774	67	4	on	on	ADP
fsr-3774	67	5	a	a	DET
fsr-3774	67	6	monthly	monthly	ADJ
fsr-3774	67	7	commission	commission	NOUN
fsr-3774	67	8	basis	basis	NOUN
fsr-3774	67	9	;	;	PUNCT
fsr-3774	67	10	as	as	SCONJ
fsr-3774	67	11	the	the	DET
fsr-3774	67	12	end	end	NOUN
fsr-3774	67	13	of	of	ADP
fsr-3774	67	14	the	the	DET
fsr-3774	67	15	“	"	PUNCT
fsr-3774	67	16	production	production	NOUN
fsr-3774	67	17	month	month	NOUN
fsr-3774	67	18	”	"	PUNCT
fsr-3774	67	19	nears	near	VERB
fsr-3774	67	20	,	,	PUNCT
fsr-3774	67	21	they	they	PRON
fsr-3774	67	22	are	be	AUX
fsr-3774	67	23	under	under	ADP
fsr-3774	67	24	pressure	pressure	NOUN
fsr-3774	67	25	to	to	PART
fsr-3774	67	26	meet	meet	VERB
fsr-3774	67	27	commission	commission	NOUN
fsr-3774	67	28	goals	goal	NOUN
fsr-3774	67	29	that	that	SCONJ
fsr-3774	67	30	they	they	PRON
fsr-3774	67	31	have	have	AUX
fsr-3774	67	32	personally	personally	ADV
fsr-3774	67	33	set	set	VERB
fsr-3774	67	34	or	or	CCONJ
fsr-3774	67	35	that	that	PRON
fsr-3774	67	36	have	have	AUX
fsr-3774	67	37	been	be	AUX
fsr-3774	67	38	set	set	VERB
fsr-3774	67	39	for	for	ADP
fsr-3774	67	40	them	they	PRON
fsr-3774	67	41	by	by	ADP
fsr-3774	67	42	superiors	superior	NOUN
fsr-3774	67	43	.	.	PUNCT
fsr-3774	67	44	’	'	PUNCT
fsr-3774	68	1	this	this	PRON
fsr-3774	68	2	may	may	AUX
fsr-3774	68	3	lead	lead	VERB
fsr-3774	68	4	some	some	DET
fsr-3774	68	5	brokers	broker	NOUN
fsr-3774	68	6	to	to	PART
fsr-3774	68	7	attempt	attempt	VERB
fsr-3774	68	8	to	to	PART
fsr-3774	68	9	increase	increase	VERB
fsr-3774	68	10	their	their	PRON
fsr-3774	68	11	level	level	NOUN
fsr-3774	68	12	of	of	ADP
fsr-3774	68	13	trading	trading	NOUN
fsr-3774	68	14	activity	activity	NOUN
fsr-3774	68	15	near	near	ADP
fsr-3774	68	16	the	the	DET
fsr-3774	68	17	end	end	NOUN
fsr-3774	68	18	of	of	ADP
fsr-3774	68	19	the	the	DET
fsr-3774	68	20	production	production	NOUN
fsr-3774	68	21	month	month	NOUN
fsr-3774	68	22	,	,	PUNCT
fsr-3774	68	23	particularly	particularly	ADV
fsr-3774	68	24	those	those	PRON
fsr-3774	68	25	whose	whose	DET
fsr-3774	68	26	co	co	VERB
fsr-3774	68	27	~	~	NOUN
fsr-3774	68	28	ission	ission	NOUN
fsr-3774	68	29	production	production	NOUN
fsr-3774	68	30	is	be	AUX
fsr-3774	68	31	lagging	lag	VERB
fsr-3774	68	32	far	far	ADV
fsr-3774	68	33	behind	behind	ADP
fsr-3774	68	34	expectations	expectation	NOUN
fsr-3774	68	35	(	(	PUNCT
fsr-3774	68	36	or	or	CCONJ
fsr-3774	68	37	quotas	quota	NOUN
fsr-3774	68	38	)	)	PUNCT
fsr-3774	68	39	.	.	PUNCT
fsr-3774	69	1	most	most	ADJ
fsr-3774	69	2	national	national	ADJ
fsr-3774	69	3	brokerage	brokerage	NOUN
fsr-3774	69	4	firms	firm	NOUN
fsr-3774	69	5	pay	pay	VERB
fsr-3774	69	6	their	their	PRON
fsr-3774	69	7	individual	individual	ADJ
fsr-3774	69	8	brokers	broker	NOUN
fsr-3774	69	9	once	once	ADV
fsr-3774	69	10	a	a	DET
fsr-3774	69	11	month	month	NOUN
fsr-3774	69	12	;	;	PUNCT
fsr-3774	69	13	this	this	DET
fsr-3774	69	14	pay	pay	NOUN
fsr-3774	69	15	is	be	AUX
fsr-3774	69	16	based	base	VERB
fsr-3774	69	17	largely	largely	ADV
fsr-3774	69	18	,	,	PUNCT
fsr-3774	69	19	if	if	SCONJ
fsr-3774	69	20	not	not	PART
fsr-3774	69	21	entirely	entirely	ADV
fsr-3774	69	22	,	,	PUNCT
fsr-3774	69	23	on	on	ADP
fsr-3774	69	24	commissions	commission	NOUN
fsr-3774	69	25	generated	generate	VERB
fsr-3774	69	26	.	.	PUNCT
fsr-3774	70	1	all	all	DET
fsr-3774	70	2	commission	commission	NOUN
fsr-3774	70	3	trades	trade	VERB
fsr-3774	70	4	that	that	SCONJ
fsr-3774	70	5	“	"	PUNCT
fsr-3774	70	6	settle	settle	NOUN
fsr-3774	70	7	”	"	PUNCT
fsr-3774	70	8	by	by	ADP
fsr-3774	70	9	the	the	DET
fsr-3774	70	10	last	last	ADJ
fsr-3774	70	11	day	day	NOUN
fsr-3774	70	12	of	of	ADP
fsr-3774	70	13	the	the	DET
fsr-3774	70	14	month	month	NOUN
fsr-3774	70	15	are	be	AUX
fsr-3774	70	16	normally	normally	ADV
fsr-3774	70	17	used	use	VERB
fsr-3774	70	18	to	to	PART
fsr-3774	70	19	determine	determine	VERB
fsr-3774	70	20	the	the	DET
fsr-3774	70	21	commission	commission	NOUN
fsr-3774	70	22	income	income	NOUN
fsr-3774	70	23	paid	pay	VERB
fsr-3774	70	24	to	to	ADP
fsr-3774	70	25	the	the	DET
fsr-3774	70	26	broker	broker	NOUN
fsr-3774	70	27	in	in	ADP
fsr-3774	70	28	the	the	DET
fsr-3774	70	29	following	follow	VERB
fsr-3774	70	30	month.3	month.3	NOUN
fsr-3774	70	31	a	a	DET
fsr-3774	70	32	significant	significant	ADJ
fsr-3774	70	33	portion	portion	NOUN
fsr-3774	70	34	of	of	ADP
fsr-3774	70	35	the	the	DET
fsr-3774	70	36	commission	commission	NOUN
fsr-3774	70	37	dollars	dollar	NOUN
fsr-3774	70	38	earned	earn	VERB
fsr-3774	70	39	by	by	ADP
fsr-3774	70	40	most	most	ADJ
fsr-3774	70	41	brokers	broker	NOUN
fsr-3774	70	42	comes	come	VERB
fsr-3774	70	43	from	from	ADP
fsr-3774	70	44	stock	stock	NOUN
fsr-3774	70	45	trades	trade	NOUN
fsr-3774	70	46	.	.	PUNCT
fsr-3774	71	1	because	because	SCONJ
fsr-3774	71	2	stock	stock	NOUN
fsr-3774	71	3	trades	trade	NOUN
fsr-3774	71	4	allow	allow	VERB
fsr-3774	71	5	five	five	NUM
fsr-3774	71	6	trading	trading	NOUN
fsr-3774	71	7	days	day	NOUN
fsr-3774	71	8	for	for	ADP
fsr-3774	71	9	settlement	settlement	NOUN
fsr-3774	71	10	,	,	PUNCT
fsr-3774	71	11	only	only	ADV
fsr-3774	71	12	those	those	DET
fsr-3774	71	13	commissions	commission	NOUN
fsr-3774	71	14	from	from	ADP
fsr-3774	71	15	stock	stock	NOUN
fsr-3774	71	16	trades	trade	NOUN
fsr-3774	71	17	that	that	PRON
fsr-3774	71	18	occur	occur	VERB
fsr-3774	71	19	on	on	ADP
fsr-3774	71	20	or	or	CCONJ
fsr-3774	71	21	before	before	ADP
fsr-3774	71	22	five	five	NUM
fsr-3774	71	23	trading	trading	NOUN
fsr-3774	71	24	days	day	NOUN
fsr-3774	71	25	prior	prior	ADV
fsr-3774	71	26	to	to	ADP
fsr-3774	71	27	the	the	DET
fsr-3774	71	28	last	last	ADJ
fsr-3774	71	29	day	day	NOUN
fsr-3774	71	30	of	of	ADP
fsr-3774	71	31	the	the	DET
fsr-3774	71	32	month	month	NOUN
fsr-3774	71	33	contribute	contribute	NOUN
fsr-3774	71	34	to	to	ADP
fsr-3774	71	35	the	the	DET
fsr-3774	71	36	next	next	ADJ
fsr-3774	71	37	paycheck	paycheck	NOUN
fsr-3774	71	38	to	to	PART
fsr-3774	71	39	be	be	AUX
fsr-3774	71	40	received	receive	VERB
fsr-3774	71	41	.	.	PUNCT
fsr-3774	72	1	brokers	broker	NOUN
fsr-3774	72	2	who	who	PRON
fsr-3774	72	3	are	be	AUX
fsr-3774	72	4	under	under	ADP
fsr-3774	72	5	pressure	pressure	NOUN
fsr-3774	72	6	to	to	PART
fsr-3774	72	7	meet	meet	VERB
fsr-3774	72	8	their	their	PRON
fsr-3774	72	9	monthly	monthly	ADJ
fsr-3774	72	10	commission	commission	NOUN
fsr-3774	72	11	goals	goal	NOUN
fsr-3774	72	12	must	must	AUX
fsr-3774	72	13	trade	trade	VERB
fsr-3774	72	14	stocks	stock	NOUN
fsr-3774	72	15	on	on	ADP
fsr-3774	72	16	or	or	CCONJ
fsr-3774	72	17	before	before	ADP
fsr-3774	72	18	thenext	thenext	NOUN
fsr-3774	72	19	-	-	PUNCT
fsr-3774	72	20	to	to	ADP
fsr-3774	72	21	-	-	PUNCT
fsr-3774	72	22	last	last	ADJ
fsr-3774	72	23	friday	friday	PROPN
fsr-3774	72	24	in	in	ADP
fsr-3774	72	25	agiven	agiven	PROPN
fsr-3774	72	26	month	month	PROPN
fsr-3774	72	27	ifthey	ifthey	PROPN
fsr-3774	72	28	wish	wish	VERB
fsr-3774	72	29	to	to	PART
fsr-3774	72	30	boost	boost	VERB
fsr-3774	72	31	that	that	DET
fsr-3774	72	32	month’scommission	month’scommission	NOUN
fsr-3774	72	33	production	production	NOUN
fsr-3774	72	34	from	from	ADP
fsr-3774	72	35	stock	stock	NOUN
fsr-3774	72	36	trading	trading	NOUN
fsr-3774	72	37	.	.	PUNCT
fsr-3774	73	1	commissions	commission	NOUN
fsr-3774	73	2	earned	earn	VERB
fsr-3774	73	3	on	on	ADP
fsr-3774	73	4	other	other	ADJ
fsr-3774	73	5	trades	trade	NOUN
fsr-3774	73	6	that	that	PRON
fsr-3774	73	7	must	must	AUX
fsr-3774	73	8	be	be	AUX
fsr-3774	73	9	settled	settle	VERB
fsr-3774	73	10	more	more	ADV
fsr-3774	73	11	promptly	promptly	ADV
fsr-3774	73	12	may	may	AUX
fsr-3774	73	13	be	be	AUX
fsr-3774	73	14	generated	generate	VERB
fsr-3774	73	15	during	during	ADP
fsr-3774	73	16	the	the	DET
fsr-3774	73	17	final	final	ADJ
fsr-3774	73	18	week	week	NOUN
fsr-3774	73	19	of	of	ADP
fsr-3774	73	20	the	the	DET
fsr-3774	73	21	month	month	NOUN
fsr-3774	73	22	and	and	CCONJ
fsr-3774	73	23	still	still	ADV
fsr-3774	73	24	boost	boost	VERB
fsr-3774	73	25	the	the	DET
fsr-3774	73	26	following	follow	VERB
fsr-3774	73	27	month	month	NOUN
fsr-3774	73	28	’s	’s	PART
fsr-3774	73	29	paycheck	paycheck	NOUN
fsr-3774	73	30	.	.	PUNCT
fsr-3774	74	1	our	our	PRON
fsr-3774	74	2	hypothesis	hypothesis	NOUN
fsr-3774	74	3	is	be	AUX
fsr-3774	74	4	that	that	SCONJ
fsr-3774	74	5	this	this	DET
fsr-3774	74	6	commission	commission	NOUN
fsr-3774	74	7	payment	payment	NOUN
fsr-3774	74	8	system	system	NOUN
fsr-3774	74	9	leads	lead	VERB
fsr-3774	74	10	some	some	DET
fsr-3774	74	11	individual	individual	ADJ
fsr-3774	74	12	brokers	broker	NOUN
fsr-3774	74	13	to	to	ADP
fsr-3774	74	14	a	a	DET
fsr-3774	74	15	pattern	pattern	NOUN
fsr-3774	74	16	of	of	ADP
fsr-3774	74	17	trading	trading	NOUN
fsr-3774	74	18	in	in	ADP
fsr-3774	74	19	which	which	PRON
fsr-3774	74	20	a	a	DET
fsr-3774	74	21	high	high	ADJ
fsr-3774	74	22	proportion	proportion	NOUN
fsr-3774	74	23	of	of	ADP
fsr-3774	74	24	their	their	PRON
fsr-3774	74	25	stock	stock	NOUN
fsr-3774	74	26	trading	trading	NOUN
fsr-3774	74	27	for	for	ADP
fsr-3774	74	28	clients	client	NOUN
fsr-3774	74	29	occurs	occur	VERB
fsr-3774	74	30	in	in	ADP
fsr-3774	74	31	the	the	DET
fsr-3774	74	32	few	few	ADJ
fsr-3774	74	33	days	day	NOUN
fsr-3774	74	34	on	on	ADP
fsr-3774	74	35	or	or	CCONJ
fsr-3774	74	36	before	before	ADP
fsr-3774	74	37	the	the	DET
fsr-3774	74	38	end	end	NOUN
fsr-3774	74	39	of	of	ADP
fsr-3774	74	40	the	the	DET
fsr-3774	74	41	production	production	NOUN
fsr-3774	74	42	month	month	NOUN
fsr-3774	74	43	.	.	PUNCT
fsr-3774	75	1	while	while	SCONJ
fsr-3774	75	2	many	many	ADJ
fsr-3774	75	3	brokers	broker	NOUN
fsr-3774	75	4	are	be	AUX
fsr-3774	75	5	very	very	ADV
fsr-3774	75	6	diligent	diligent	ADJ
fsr-3774	75	7	about	about	ADP
fsr-3774	75	8	serving	serve	VERB
fsr-3774	75	9	their	their	PRON
fsr-3774	75	10	customers	customer	NOUN
fsr-3774	75	11	’	'	PUNCT
fsr-3774	75	12	needs	need	VERB
fsr-3774	75	13	on	on	ADP
fsr-3774	75	14	a	a	DET
fsr-3774	75	15	day	day	NOUN
fsr-3774	75	16	-	-	PUNCT
fsr-3774	75	17	to	to	ADP
fsr-3774	75	18	-	-	PUNCT
fsr-3774	75	19	day	day	NOUN
fsr-3774	75	20	basis	basis	NOUN
fsr-3774	75	21	t	t	NOUN
fsr-3774	75	22	~	~	PUNCT
fsr-3774	75	23	oughout	oughout	ADP
fsr-3774	75	24	the	the	DET
fsr-3774	75	25	month	month	NOUN
fsr-3774	75	26	,	,	PUNCT
fsr-3774	75	27	some	some	PRON
fsr-3774	75	28	may	may	AUX
fsr-3774	75	29	not	not	PART
fsr-3774	75	30	be	be	AUX
fsr-3774	75	31	as	as	ADV
fsr-3774	75	32	diligent	diligent	ADJ
fsr-3774	75	33	.	.	PUNCT
fsr-3774	76	1	the	the	DET
fsr-3774	76	2	less	less	ADV
fsr-3774	76	3	diligent	diligent	ADJ
fsr-3774	76	4	brokers	broker	NOUN
fsr-3774	76	5	may	may	AUX
fsr-3774	76	6	tend	tend	VERB
fsr-3774	76	7	to	to	PART
fsr-3774	76	8	be	be	AUX
fsr-3774	76	9	somewhat	somewhat	ADV
fsr-3774	76	10	lazy	lazy	ADJ
fsr-3774	76	11	in	in	ADP
fsr-3774	76	12	finding	find	VERB
fsr-3774	76	13	new	new	ADJ
fsr-3774	76	14	accounts	account	NOUN
fsr-3774	76	15	and	and	CCONJ
fsr-3774	76	16	reviewing	review	VERB
fsr-3774	76	17	existing	exist	VERB
fsr-3774	76	18	clients	client	NOUN
fsr-3774	76	19	’	’	PART
fsr-3774	76	20	portfolios	portfolio	NOUN
fsr-3774	76	21	during	during	ADP
fsr-3774	76	22	the	the	DET
fsr-3774	76	23	first	first	ADJ
fsr-3774	76	24	few	few	ADJ
fsr-3774	76	25	weeks	week	NOUN
fsr-3774	76	26	of	of	ADP
fsr-3774	76	27	a	a	DET
fsr-3774	76	28	production	production	NOUN
fsr-3774	76	29	month	month	NOUN
fsr-3774	76	30	but	but	CCONJ
fsr-3774	76	31	will	will	AUX
fsr-3774	76	32	suddenly	suddenly	ADV
fsr-3774	76	33	become	become	VERB
fsr-3774	76	34	very	very	ADV
fsr-3774	76	35	active	active	ADJ
fsr-3774	76	36	on	on	ADP
fsr-3774	76	37	behalf	behalf	NOUN
fsr-3774	76	38	of	of	ADP
fsr-3774	76	39	their	their	PRON
fsr-3774	76	40	clients	client	NOUN
fsr-3774	76	41	during	during	ADP
fsr-3774	76	42	the	the	DET
fsr-3774	76	43	final	final	ADJ
fsr-3774	76	44	week	week	NOUN
fsr-3774	76	45	of	of	ADP
fsr-3774	76	46	the	the	DET
fsr-3774	76	47	production	production	NOUN
fsr-3774	76	48	month	month	NOUN
fsr-3774	76	49	in	in	ADP
fsr-3774	76	50	order	order	NOUN
fsr-3774	76	51	to	to	PART
fsr-3774	76	52	generate	generate	VERB
fsr-3774	76	53	“	"	PUNCT
fsr-3774	76	54	sufficient	sufficient	ADJ
fsr-3774	76	55	”	"	PUNCT
fsr-3774	76	56	commission	commission	NOUN
fsr-3774	76	57	revenue.4	revenue.4	PROPN
fsr-3774	76	58	further	far	ADV
fsr-3774	76	59	,	,	PUNCT
fsr-3774	76	60	this	this	DET
fsr-3774	76	61	tendency	tendency	NOUN
fsr-3774	76	62	is	be	AUX
fsr-3774	76	63	much	much	ADV
fsr-3774	76	64	more	more	ADV
fsr-3774	76	65	likely	likely	ADJ
fsr-3774	76	66	to	to	PART
fsr-3774	76	67	show	show	VERB
fsr-3774	76	68	up	up	ADP
fsr-3774	76	69	with	with	ADP
fsr-3774	76	70	brokers	broker	NOUN
fsr-3774	76	71	who	who	PRON
fsr-3774	76	72	service	service	VERB
fsr-3774	76	73	accounts	account	VERB
fsr-3774	76	74	for	for	ADP
fsr-3774	76	75	individual	individual	ADJ
fsr-3774	76	76	investors	investor	NOUN
fsr-3774	76	77	as	as	SCONJ
fsr-3774	76	78	opposed	oppose	VERB
fsr-3774	76	79	to	to	ADP
fsr-3774	76	80	institutions	institution	NOUN
fsr-3774	76	81	.	.	PUNCT
fsr-3774	77	1	institutions	institution	NOUN
fsr-3774	77	2	rely	rely	VERB
fsr-3774	77	3	much	much	ADV
fsr-3774	77	4	less	less	ADJ
fsr-3774	77	5	on	on	ADP
fsr-3774	77	6	brokers	broker	NOUN
fsr-3774	77	7	’	'	PUNCT
fsr-3774	77	8	advice	advice	NOUN
fsr-3774	77	9	,	,	PUNCT
fsr-3774	77	10	whereas	whereas	SCONJ
fsr-3774	77	11	,	,	PUNCT
fsr-3774	77	12	many	many	ADJ
fsr-3774	77	13	individuals	individual	NOUN
fsr-3774	77	14	trade	trade	VERB
fsr-3774	77	15	primarily	primarily	ADV
fsr-3774	77	16	on	on	ADP
fsr-3774	77	17	the	the	DET
fsr-3774	77	18	advice	advice	NOUN
fsr-3774	77	19	of	of	ADP
fsr-3774	77	20	their	their	PRON
fsr-3774	77	21	brokers	broker	NOUN
fsr-3774	77	22	.	.	PUNCT
fsr-3774	78	1	the	the	DET
fsr-3774	78	2	focus	focus	NOUN
fsr-3774	78	3	here	here	ADV
fsr-3774	78	4	is	be	AUX
fsr-3774	78	5	on	on	ADP
fsr-3774	78	6	stock	stock	NOUN
fsr-3774	78	7	trading	trading	NOUN
fsr-3774	78	8	,	,	PUNCT
fsr-3774	78	9	rather	rather	ADV
fsr-3774	78	10	than	than	ADP
fsr-3774	78	11	all	all	DET
fsr-3774	78	12	trading	trading	NOUN
fsr-3774	78	13	,	,	PUNCT
fsr-3774	78	14	because	because	SCONJ
fsr-3774	78	15	the	the	DET
fsr-3774	78	16	pattern	pattern	NOUN
fsr-3774	78	17	of	of	ADP
fsr-3774	78	18	trading	trading	NOUN
fsr-3774	78	19	we	we	PRON
fsr-3774	78	20	are	be	AUX
fsr-3774	78	21	hypothesizing	hypothesize	VERB
fsr-3774	78	22	is	be	AUX
fsr-3774	78	23	more	more	ADV
fsr-3774	78	24	likely	likely	ADJ
fsr-3774	78	25	to	to	PART
fsr-3774	78	26	be	be	AUX
fsr-3774	78	27	evident	evident	ADJ
fsr-3774	78	28	in	in	ADP
fsr-3774	78	29	the	the	DET
fsr-3774	78	30	trading	trading	NOUN
fsr-3774	78	31	of	of	ADP
fsr-3774	78	32	stocks	stock	NOUN
fsr-3774	78	33	for	for	ADP
fsr-3774	78	34	which	which	PRON
fsr-3774	78	35	a	a	DET
fsr-3774	78	36	broker	broker	NOUN
fsr-3774	78	37	may	may	AUX
fsr-3774	78	38	feed	feed	VERB
fsr-3774	78	39	“	"	PUNCT
fsr-3774	78	40	hot	hot	ADJ
fsr-3774	78	41	tips	tip	NOUN
fsr-3774	78	42	”	"	PUNCT
fsr-3774	78	43	to	to	ADP
fsr-3774	78	44	clients	client	NOUN
fsr-3774	78	45	to	to	PART
fsr-3774	78	46	generate	generate	VERB
fsr-3774	78	47	trading	trading	NOUN
fsr-3774	78	48	.	.	PUNCT
fsr-3774	79	1	the	the	DET
fsr-3774	79	2	trading	trading	NOUN
fsr-3774	79	3	of	of	ADP
fsr-3774	79	4	other	other	ADJ
fsr-3774	79	5	assets	asset	NOUN
fsr-3774	79	6	such	such	ADJ
fsr-3774	79	7	as	as	ADP
fsr-3774	79	8	bonds	bond	NOUN
fsr-3774	79	9	or	or	CCONJ
fsr-3774	79	10	mutual	mutual	ADJ
fsr-3774	79	11	funds	fund	NOUN
fsr-3774	79	12	is	be	AUX
fsr-3774	79	13	less	less	ADV
fsr-3774	79	14	likely	likely	ADJ
fsr-3774	79	15	to	to	PART
fsr-3774	79	16	exhibit	exhibit	VERB
fsr-3774	79	17	this	this	DET
fsr-3774	79	18	pattern	pattern	NOUN
fsr-3774	79	19	because	because	SCONJ
fsr-3774	79	20	their	their	PRON
fsr-3774	79	21	trading	trading	NOUN
fsr-3774	79	22	is	be	AUX
fsr-3774	79	23	normally	normally	ADV
fsr-3774	79	24	not	not	PART
fsr-3774	79	25	as	as	ADV
fsr-3774	79	26	lucrative	lucrative	ADJ
fsr-3774	79	27	to	to	ADP
fsr-3774	79	28	brokers	broker	NOUN
fsr-3774	79	29	and	and	CCONJ
fsr-3774	79	30	is	be	AUX
fsr-3774	79	31	not	not	PART
fsr-3774	79	32	done	do	VERB
fsr-3774	79	33	as	as	ADV
fsr-3774	79	34	much	much	ADJ
fsr-3774	79	35	on	on	ADP
fsr-3774	79	36	the	the	DET
fsr-3774	79	37	basis	basis	NOUN
fsr-3774	79	38	of	of	ADP
fsr-3774	79	39	“	"	PUNCT
fsr-3774	79	40	hot	hot	ADJ
fsr-3774	79	41	tips	tip	NOUN
fsr-3774	79	42	.	.	PUNCT
fsr-3774	79	43	”	"	PUNCT
fsr-3774	80	1	to	to	PART
fsr-3774	80	2	test	test	VERB
fsr-3774	80	3	this	this	DET
fsr-3774	80	4	hypothesis	hypothesis	NOUN
fsr-3774	80	5	,	,	PUNCT
fsr-3774	80	6	we	we	PRON
fsr-3774	80	7	obtained	obtain	VERB
fsr-3774	80	8	daily	daily	ADJ
fsr-3774	80	9	brokerage	brokerage	NOUN
fsr-3774	80	10	commission	commission	NOUN
fsr-3774	80	11	data	datum	NOUN
fsr-3774	80	12	on	on	ADP
fsr-3774	80	13	the	the	DET
fsr-3774	80	14	stock	stock	NOUN
fsr-3774	80	15	trades	trade	NOUN
fsr-3774	80	16	for	for	ADP
fsr-3774	80	17	a	a	DET
fsr-3774	80	18	random	random	ADJ
fsr-3774	80	19	sample	sample	NOUN
fsr-3774	80	20	of	of	ADP
fsr-3774	80	21	brokers	broker	NOUN
fsr-3774	80	22	from	from	ADP
fsr-3774	80	23	one	one	NUM
fsr-3774	80	24	of	of	ADP
fsr-3774	80	25	the	the	DET
fsr-3774	80	26	nation	nation	NOUN
fsr-3774	80	27	’s	’s	PART
fsr-3774	80	28	leading	lead	VERB
fsr-3774	80	29	brokerage	brokerage	NOUN
fsr-3774	80	30	firms	firm	NOUN
fsr-3774	80	31	.	.	PUNCT
fsr-3774	81	1	the	the	DET
fsr-3774	81	2	data	datum	NOUN
fsr-3774	81	3	include	include	VERB
fsr-3774	81	4	the	the	DET
fsr-3774	81	5	daily	daily	ADJ
fsr-3774	81	6	brokerage	brokerage	NOUN
fsr-3774	81	7	commission	commission	NOUN
fsr-3774	81	8	production	production	NOUN
fsr-3774	81	9	earned	earn	VERB
fsr-3774	81	10	on	on	ADP
fsr-3774	81	11	stock	stock	NOUN
fsr-3774	81	12	transactions	transaction	NOUN
fsr-3774	81	13	for	for	ADP
fsr-3774	81	14	each	each	PRON
fsr-3774	81	15	of	of	ADP
fsr-3774	81	16	100	100	NUM
fsr-3774	81	17	randomly	randomly	ADV
fsr-3774	81	18	selected	select	VERB
fsr-3774	81	19	brokers5	brokers5	NOUN
fsr-3774	82	1	the	the	DET
fsr-3774	82	2	data	datum	NOUN
fsr-3774	82	3	cover	cover	VERB
fsr-3774	82	4	a	a	DET
fsr-3774	82	5	two	two	NUM
fsr-3774	82	6	-	-	PUNCT
fsr-3774	82	7	year	year	NOUN
fsr-3774	82	8	period	period	NOUN
fsr-3774	82	9	from	from	ADP
fsr-3774	82	10	the	the	DET
fsr-3774	82	11	last	last	ADJ
fsr-3774	82	12	week	week	NOUN
fsr-3774	82	13	of	of	ADP
fsr-3774	82	14	august	august	PROPN
fsr-3774	82	15	1990	1990	NUM
fsr-3774	82	16	through	through	ADP
fsr-3774	82	17	august	august	PROPN
fsr-3774	82	18	1992	1992	NUM
fsr-3774	82	19	.	.	PUNCT
fsr-3774	83	1	in	in	ADP
fsr-3774	83	2	addition	addition	NOUN
fsr-3774	83	3	,	,	PUNCT
fsr-3774	83	4	daily	daily	ADJ
fsr-3774	83	5	data	datum	NOUN
fsr-3774	83	6	were	be	AUX
fsr-3774	83	7	collected	collect	VERB
fsr-3774	83	8	on	on	ADP
fsr-3774	83	9	nyse	nyse	PROPN
fsr-3774	83	10	total	total	ADJ
fsr-3774	83	11	trading	trading	NOUN
fsr-3774	83	12	volume	volume	NOUN
fsr-3774	83	13	and	and	CCONJ
fsr-3774	83	14	on	on	ADP
fsr-3774	83	15	odd	odd	ADJ
fsr-3774	83	16	-	-	PUNCT
fsr-3774	83	17	lot	lot	NOUN
fsr-3774	83	18	purchases	purchase	NOUN
fsr-3774	83	19	and	and	CCONJ
fsr-3774	83	20	sales	sale	NOUN
fsr-3774	83	21	for	for	ADP
fsr-3774	83	22	the	the	DET
fsr-3774	83	23	same	same	ADJ
fsr-3774	83	24	two	two	NUM
fsr-3774	83	25	-	-	PUNCT
fsr-3774	83	26	year	year	NOUN
fsr-3774	83	27	period	period	NOUN
fsr-3774	83	28	using	use	VERB
fsr-3774	83	29	barron	barron	PROPN
fsr-3774	83	30	’s	’s	PART
fsr-3774	83	31	and	and	CCONJ
fsr-3774	83	32	the	the	DET
fsr-3774	83	33	standard	standard	PROPN
fsr-3774	83	34	&	&	CCONJ
fsr-3774	83	35	poor	poor	PROPN
fsr-3774	83	36	’s	’s	PART
fsr-3774	83	37	daily	daily	ADJ
fsr-3774	83	38	stock	stock	NOUN
fsr-3774	83	39	price	price	NOUN
fsr-3774	83	40	record	record	NOUN
fsr-3774	83	41	.	.	PUNCT
fsr-3774	84	1	the	the	DET
fsr-3774	84	2	data	datum	NOUN
fsr-3774	84	3	are	be	AUX
fsr-3774	84	4	grouped	group	VERB
fsr-3774	84	5	into	into	ADP
fsr-3774	84	6	24	24	NUM
fsr-3774	84	7	“	"	PUNCT
fsr-3774	84	8	production	production	NOUN
fsr-3774	84	9	months	month	NOUN
fsr-3774	84	10	”	"	PUNCT
fsr-3774	84	11	over	over	ADP
fsr-3774	84	12	the	the	DET
fsr-3774	84	13	two	two	NUM
fsr-3774	84	14	-	-	PUNCT
fsr-3774	84	15	year	year	NOUN
fsr-3774	84	16	period	period	NOUN
fsr-3774	84	17	.	.	PUNCT
fsr-3774	85	1	for	for	ADP
fsr-3774	85	2	each	each	DET
fsr-3774	85	3	month	month	NOUN
fsr-3774	85	4	,	,	PUNCT
fsr-3774	85	5	day	day	NOUN
fsr-3774	85	6	1	1	NUM
fsr-3774	85	7	is	be	AUX
fsr-3774	85	8	identified	identify	VERB
fsr-3774	85	9	as	as	ADP
fsr-3774	85	10	being	be	AUX
fsr-3774	85	11	the	the	DET
fsr-3774	85	12	last	last	ADJ
fsr-3774	85	13	trading	trading	NOUN
fsr-3774	85	14	day	day	NOUN
fsr-3774	85	15	of	of	ADP
fsr-3774	85	16	the	the	DET
fsr-3774	85	17	production	production	NOUN
fsr-3774	85	18	month	month	NOUN
fsr-3774	85	19	(	(	PUNCT
fsr-3774	85	20	i.e.	i.e.	X
fsr-3774	85	21	,	,	PUNCT
fsr-3774	85	22	five	five	NUM
fsr-3774	85	23	trading	trading	NOUN
fsr-3774	85	24	days	day	NOUN
fsr-3774	85	25	before	before	ADP
fsr-3774	85	26	the	the	DET
fsr-3774	85	27	last	last	ADJ
fsr-3774	85	28	trading	trading	NOUN
fsr-3774	85	29	day	day	NOUN
fsr-3774	85	30	of	of	ADP
fsr-3774	85	31	the	the	DET
fsr-3774	85	32	calendar	calendar	NOUN
fsr-3774	85	33	month	month	NOUN
fsr-3774	85	34	)	)	PUNCT
fsr-3774	85	35	.	.	PUNCT
fsr-3774	86	1	day	day	NOUN
fsr-3774	86	2	2	2	NUM
fsr-3774	86	3	is	be	AUX
fsr-3774	86	4	the	the	DET
fsr-3774	86	5	trading	trading	NOUN
fsr-3774	86	6	day	day	NOUN
fsr-3774	86	7	before	before	ADP
fsr-3774	86	8	day	day	NOUN
fsr-3774	86	9	1	1	NUM
fsr-3774	86	10	;	;	PUNCT
fsr-3774	86	11	day	day	NOUN
fsr-3774	86	12	3	3	NUM
fsr-3774	86	13	is	be	AUX
fsr-3774	86	14	two	two	NUM
fsr-3774	86	15	trading	trading	NOUN
fsr-3774	86	16	days	day	NOUN
fsr-3774	86	17	before	before	ADP
fsr-3774	86	18	day	day	NOUN
fsr-3774	86	19	1	1	NUM
fsr-3774	86	20	,	,	PUNCT
fsr-3774	86	21	and	and	CCONJ
fsr-3774	86	22	so	so	ADV
fsr-3774	86	23	forth	forth	ADV
fsr-3774	86	24	back	back	ADV
fsr-3774	86	25	to	to	ADP
fsr-3774	86	26	day	day	NOUN
fsr-3774	86	27	19	19	NUM
fsr-3774	86	28	.	.	PUNCT
fsr-3774	87	1	this	this	PRON
fsr-3774	87	2	provided	provide	VERB
fsr-3774	87	3	us	we	PRON
fsr-3774	87	4	with	with	ADP
fsr-3774	87	5	a	a	DET
fsr-3774	87	6	19	19	NUM
fsr-3774	87	7	-	-	PUNCT
fsr-3774	87	8	day	day	NOUN
fsr-3774	87	9	period	period	NOUN
fsr-3774	87	10	for	for	ADP
fsr-3774	87	11	the	the	DET
fsr-3774	87	12	analysis	analysis	NOUN
fsr-3774	87	13	,	,	PUNCT
fsr-3774	87	14	day	day	NOUN
fsr-3774	87	15	1	1	NUM
fsr-3774	87	16	back	back	ADV
fsr-3774	87	17	through	through	ADP
fsr-3774	87	18	day	day	NOUN
fsr-3774	87	19	19	19	NUM
fsr-3774	87	20	,	,	PUNCT
fsr-3774	87	21	(	(	PUNCT
fsr-3774	87	22	most	most	ADJ
fsr-3774	87	23	months	month	NOUN
fsr-3774	87	24	had	have	VERB
fsr-3774	87	25	more	more	ADJ
fsr-3774	87	26	than	than	ADP
fsr-3774	87	27	19	19	NUM
fsr-3774	87	28	days	day	NOUN
fsr-3774	87	29	in	in	ADP
fsr-3774	87	30	a	a	DET
fsr-3774	87	31	production	production	NOUN
fsr-3774	87	32	month	month	NOUN
fsr-3774	87	33	,	,	PUNCT
fsr-3774	87	34	but	but	CCONJ
fsr-3774	87	35	the	the	DET
fsr-3774	87	36	inclusion	inclusion	NOUN
fsr-3774	87	37	of	of	ADP
fsr-3774	87	38	more	more	ADJ
fsr-3774	87	39	days	day	NOUN
fsr-3774	87	40	in	in	ADP
fsr-3774	87	41	some	some	DET
fsr-3774	87	42	months	month	NOUN
fsr-3774	87	43	would	would	AUX
fsr-3774	87	44	make	make	VERB
fsr-3774	87	45	the	the	DET
fsr-3774	87	46	data	datum	NOUN
fsr-3774	87	47	analysis	analysis	NOUN
fsr-3774	87	48	particularly	particularly	ADV
fsr-3774	87	49	difficult	difficult	ADJ
fsr-3774	87	50	when	when	SCONJ
fsr-3774	87	51	averaging	average	VERB
fsr-3774	87	52	acrossdaysof	acrossdaysof	NOUN
fsr-3774	87	53	the	the	DET
fsr-3774	87	54	month	month	NOUN
fsr-3774	87	55	,	,	PUNCT
fsr-3774	87	56	)	)	PUNCT
fsr-3774	87	57	the	the	DET
fsr-3774	87	58	hypothesis	hypothesis	NOUN
fsr-3774	87	59	is	be	AUX
fsr-3774	87	60	tested	test	VERB
fsr-3774	87	61	in	in	ADP
fsr-3774	87	62	two	two	NUM
fsr-3774	87	63	parts	part	NOUN
fsr-3774	87	64	.	.	PUNCT
fsr-3774	88	1	in	in	ADP
fsr-3774	88	2	section	section	NOUN
fsr-3774	88	3	iv	iv	NUM
fsr-3774	88	4	,	,	PUNCT
fsr-3774	88	5	we	we	PRON
fsr-3774	88	6	assume	assume	VERB
fsr-3774	88	7	that	that	SCONJ
fsr-3774	88	8	info	info	NOUN
fsr-3774	88	9	~	~	SYM
fsr-3774	88	10	ation	ation	PROPN
fsr-3774	88	11	flows	flow	VERB
fsr-3774	88	12	arc	arc	VERB
fsr-3774	88	13	random	random	ADJ
fsr-3774	88	14	across	across	ADP
fsr-3774	88	15	the	the	DET
fsr-3774	88	16	month	month	NOUN
fsr-3774	88	17	and	and	CCONJ
fsr-3774	88	18	that	that	DET
fsr-3774	88	19	one	one	NOUN
fsr-3774	88	20	may	may	AUX
fsr-3774	88	21	expect	expect	VERB
fsr-3774	88	22	the	the	DET
fsr-3774	88	23	intramonth	intramonth	NOUN
fsr-3774	88	24	pattern	pattern	NOUN
fsr-3774	88	25	of	of	ADP
fsr-3774	88	26	broker	broker	NOUN
fsr-3774	88	27	trades	trade	NOUN
fsr-3774	88	28	to	to	PART
fsr-3774	88	29	be	be	AUX
fsr-3774	88	30	uniform	uniform	ADJ
fsr-3774	88	31	.	.	PUNCT
fsr-3774	89	1	in	in	ADP
fsr-3774	89	2	section	section	NOUN
fsr-3774	89	3	v	v	NOUN
fsr-3774	89	4	,	,	PUNCT
fsr-3774	89	5	we	we	PRON
fsr-3774	89	6	assume	assume	VERB
fsr-3774	89	7	that	that	SCONJ
fsr-3774	89	8	there	there	PRON
fsr-3774	89	9	may	may	AUX
fsr-3774	89	10	be	be	AUX
fsr-3774	89	11	seasonalities	seasonalitie	NOUN
fsr-3774	89	12	in	in	ADP
fsr-3774	89	13	information	information	NOUN
fsr-3774	89	14	flows	flow	NOUN
fsr-3774	89	15	,	,	PUNCT
fsr-3774	89	16	that	that	SCONJ
fsr-3774	89	17	these	these	DET
fsr-3774	89	18	seasonalities	seasonalitie	NOUN
fsr-3774	89	19	are	be	AUX
fsr-3774	89	20	reflected	reflect	VERB
fsr-3774	89	21	in	in	ADP
fsr-3774	89	22	nyse	nyse	PROPN
fsr-3774	89	23	trading	trading	NOUN
fsr-3774	89	24	volume	volume	NOUN
fsr-3774	89	25	,	,	PUNCT
fsr-3774	89	26	and	and	CCONJ
fsr-3774	89	27	that	that	SCONJ
fsr-3774	89	28	we	we	PRON
fsr-3774	89	29	may	may	AUX
fsr-3774	89	30	expect	expect	VERB
fsr-3774	89	31	the	the	DET
fsr-3774	89	32	pattern	pattern	NOUN
fsr-3774	89	33	of	of	ADP
fsr-3774	89	34	broker	broker	NOUN
fsr-3774	89	35	trading	trading	NOUN
fsr-3774	89	36	to	to	PART
fsr-3774	89	37	be	be	AUX
fsr-3774	89	38	similar	similar	ADJ
fsr-3774	89	39	to	to	ADP
fsr-3774	89	40	the	the	DET
fsr-3774	89	41	pattern	pattern	NOUN
fsr-3774	89	42	reflected	reflect	VERB
fsr-3774	89	43	in	in	ADP
fsr-3774	89	44	nyse	nyse	PROPN
fsr-3774	89	45	trading	trading	NOUN
fsr-3774	89	46	.	.	PUNCT
fsr-3774	90	1	iv	iv	X
fsr-3774	90	2	.	.	PUNCT
fsr-3774	91	1	~~idual	~~idual	PUNCT
fsr-3774	91	2	broker	broker	NOUN
fsr-3774	91	3	trading	trading	NOUN
fsr-3774	91	4	activity	activity	NOUN
fsr-3774	91	5	to	to	PART
fsr-3774	91	6	perform	perform	VERB
fsr-3774	91	7	the	the	DET
fsr-3774	91	8	empirical	empirical	ADJ
fsr-3774	91	9	tests	test	NOUN
fsr-3774	91	10	,	,	PUNCT
fsr-3774	91	11	we	we	PRON
fsr-3774	91	12	first	first	ADV
fsr-3774	91	13	calculate	calculate	VERB
fsr-3774	91	14	the	the	DET
fsr-3774	91	15	proportion	proportion	NOUN
fsr-3774	91	16	of	of	ADP
fsr-3774	91	17	total	total	ADJ
fsr-3774	91	18	commissions	commission	NOUN
fsr-3774	91	19	that	that	PRON
fsr-3774	91	20	each	each	PRON
fsr-3774	91	21	of	of	ADP
fsr-3774	91	22	the	the	DET
fsr-3774	91	23	100	100	NUM
fsr-3774	91	24	brokers	broker	NOUN
fsr-3774	91	25	in	in	ADP
fsr-3774	91	26	the	the	DET
fsr-3774	91	27	sample	sample	NOUN
fsr-3774	91	28	earned	earn	VERB
fsr-3774	91	29	in	in	ADP
fsr-3774	91	30	each	each	PRON
fsr-3774	91	31	of	of	ADP
fsr-3774	91	32	the	the	DET
fsr-3774	91	33	19	19	NUM
fsr-3774	91	34	days	day	NOUN
fsr-3774	91	35	of	of	ADP
fsr-3774	91	36	each	each	DET
fsr-3774	91	37	“	"	PUNCT
fsr-3774	91	38	production	production	NOUN
fsr-3774	91	39	month	month	NOUN
fsr-3774	91	40	.	.	PUNCT
fsr-3774	91	41	”	"	PUNCT
fsr-3774	92	1	for	for	ADP
fsr-3774	92	2	each	each	DET
fsr-3774	92	3	day	day	NOUN
fsr-3774	92	4	of	of	ADP
fsr-3774	92	5	the	the	DET
fsr-3774	92	6	month	month	NOUN
fsr-3774	92	7	,	,	PUNCT
fsr-3774	92	8	the	the	DET
fsr-3774	92	9	co	co	NOUN
fsr-3774	92	10	~	~	NOUN
fsr-3774	92	11	issions	ission	NOUN
fsr-3774	92	12	earned	earn	VERB
fsr-3774	92	13	by	by	ADP
fsr-3774	92	14	each	each	DET
fsr-3774	92	15	individual	individual	ADJ
fsr-3774	92	16	broker	broker	NOUN
fsr-3774	92	17	are	be	AUX
fsr-3774	92	18	expressed	express	VERB
fsr-3774	92	19	as	as	ADP
fsr-3774	92	20	a	a	DET
fsr-3774	92	21	proportion	proportion	NOUN
fsr-3774	92	22	of	of	ADP
fsr-3774	92	23	that	that	DET
fsr-3774	92	24	broker	broker	NOUN
fsr-3774	92	25	’s	’s	PART
fsr-3774	92	26	total	total	ADJ
fsr-3774	92	27	commissions	commission	NOUN
fsr-3774	92	28	.	.	PUNCT
fsr-3774	93	1	for	for	ADP
fsr-3774	93	2	example	example	NOUN
fsr-3774	93	3	,	,	PUNCT
fsr-3774	93	4	pij	pij	PROPN
fsr-3774	93	5	,	,	PUNCT
fsr-3774	93	6	k	k	PROPN
fsr-3774	93	7	is	be	AUX
fsr-3774	93	8	equal	equal	ADJ
fsr-3774	93	9	to	to	ADP
fsr-3774	93	10	the	the	DET
fsr-3774	93	11	proportion	proportion	NOUN
fsr-3774	93	12	for	for	ADP
fsr-3774	93	13	broker	broker	NOUN
fsr-3774	93	14	i	i	PRON
fsr-3774	93	15	on	on	ADP
fsr-3774	93	16	dayj	dayj	PROPN
fsr-3774	93	17	during	during	ADP
fsr-3774	93	18	month	month	NOUN
fsr-3774	93	19	k	k	PROPN
fsr-3774	93	20	:	:	PUNCT
fsr-3774	93	21	pjj	pjj	PROPN
fsr-3774	93	22	,	,	PUNCT
fsr-3774	93	23	k	k	PROPN
fsr-3774	93	24	=	=	SYM
fsr-3774	93	25	dcijk	dcijk	PROPN
fsr-3774	93	26	/	/	SYM
fsr-3774	93	27	tcik	tcik	NOUN
fsr-3774	93	28	,	,	PUNCT
fsr-3774	93	29	(	(	PUNCT
fsr-3774	93	30	1	1	X
fsr-3774	93	31	)	)	PUNCT
fsr-3774	93	32	where	where	SCONJ
fsr-3774	93	33	dcek	dcek	NOUN
fsr-3774	93	34	is	be	AUX
fsr-3774	93	35	the	the	DET
fsr-3774	93	36	daily	daily	ADJ
fsr-3774	93	37	co	co	NOUN
fsr-3774	93	38	~	~	NOUN
fsr-3774	93	39	ission	ission	NOUN
fsr-3774	93	40	for	for	ADP
fsr-3774	93	41	broker	broker	NOUN
fsr-3774	93	42	i	i	PRON
fsr-3774	93	43	on	on	ADP
fsr-3774	93	44	day	day	NOUN
fsr-3774	93	45	j	j	PROPN
fsr-3774	93	46	during	during	ADP
fsr-3774	93	47	month	month	NOUN
fsr-3774	93	48	k	k	PROPN
fsr-3774	93	49	,	,	PUNCT
fsr-3774	93	50	and	and	CCONJ
fsr-3774	93	51	rc	rc	PROPN
fsr-3774	93	52	,	,	PUNCT
fsr-3774	93	53	,	,	PUNCT
fsr-3774	93	54	is	be	AUX
fsr-3774	93	55	the	the	DET
fsr-3774	93	56	total	total	ADJ
fsr-3774	93	57	commission	commission	NOUN
fsr-3774	93	58	for	for	ADP
fsr-3774	93	59	broker	broker	PROPN
fsr-3774	93	60	i	i	PRON
fsr-3774	93	61	during	during	ADP
fsr-3774	93	62	month	month	PROPN
fsr-3774	93	63	k.	k.	PROPN
fsr-3774	94	1	next	next	ADV
fsr-3774	94	2	,	,	PUNCT
fsr-3774	94	3	the	the	DET
fsr-3774	94	4	average	average	ADJ
fsr-3774	94	5	proportion	proportion	NOUN
fsr-3774	94	6	for	for	ADP
fsr-3774	94	7	each	each	PRON
fsr-3774	94	8	of	of	ADP
fsr-3774	94	9	the	the	DET
fsr-3774	94	10	nineteen	nineteen	NUM
fsr-3774	94	11	days	day	NOUN
fsr-3774	94	12	@ij	@ij	PROPN
fsr-3774	94	13	is	be	AUX
fsr-3774	94	14	the	the	DET
fsr-3774	94	15	average	average	NOUN
fsr-3774	94	16	for	for	ADP
fsr-3774	94	17	broker	broker	NOUN
fsr-3774	94	18	i	i	PRON
fsr-3774	94	19	on	on	ADP
fsr-3774	94	20	day	day	PROPN
fsr-3774	94	21	j	j	PROPN
fsr-3774	94	22	)	)	PUNCT
fsr-3774	94	23	is	be	AUX
fsr-3774	94	24	calculated	calculate	VERB
fsr-3774	94	25	for	for	ADP
fsr-3774	94	26	each	each	DET
fsr-3774	94	27	broker	broker	NOUN
fsr-3774	94	28	by	by	ADP
fsr-3774	94	29	averaging	average	VERB
fsr-3774	94	30	across	across	ADP
fsr-3774	94	31	the	the	DET
fsr-3774	94	32	24	24	NUM
fsr-3774	94	33	months	month	NOUN
fsr-3774	94	34	of	of	ADP
fsr-3774	94	35	data	datum	NOUN
fsr-3774	94	36	,	,	PUNCT
fsr-3774	94	37	using	use	VERB
fsr-3774	94	38	:	:	PUNCT
fsr-3774	94	39	these	these	DET
fsr-3774	94	40	averages	average	NOUN
fsr-3774	94	41	appear	appear	VERB
fsr-3774	94	42	in	in	ADP
fsr-3774	94	43	columns	column	NOUN
fsr-3774	94	44	2	2	NUM
fsr-3774	94	45	through	through	ADP
fsr-3774	94	46	8	8	NUM
fsr-3774	94	47	of	of	ADP
fsr-3774	94	48	panel	panel	NOUN
fsr-3774	94	49	a	a	PRON
fsr-3774	94	50	of	of	ADP
fsr-3774	94	51	table	table	NOUN
fsr-3774	94	52	1	1	NUM
fsr-3774	94	53	for	for	ADP
fsr-3774	94	54	seven	seven	NUM
fsr-3774	94	55	of	of	ADP
fsr-3774	94	56	the	the	DET
fsr-3774	94	57	100	100	NUM
fsr-3774	94	58	brokers	broker	NOUN
fsr-3774	94	59	in	in	ADP
fsr-3774	94	60	the	the	DET
fsr-3774	94	61	sample	sample	NOUN
fsr-3774	94	62	.	.	PUNCT
fsr-3774	95	1	(	(	PUNCT
fsr-3774	95	2	these	these	DET
fsr-3774	95	3	seven	seven	NUM
fsr-3774	95	4	brokers	broker	NOUN
fsr-3774	95	5	are	be	AUX
fsr-3774	95	6	the	the	DET
fsr-3774	95	7	ones	one	NOUN
fsr-3774	95	8	who	who	PRON
fsr-3774	95	9	,	,	PUNCT
fsr-3774	95	10	on	on	ADP
fsr-3774	95	11	average	average	ADJ
fsr-3774	95	12	,	,	PUNCT
fsr-3774	95	13	earned	earn	VERB
fsr-3774	95	14	the	the	DET
fsr-3774	95	15	highest	high	ADJ
fsr-3774	95	16	proportions	proportion	NOUN
fsr-3774	95	17	of	of	ADP
fsr-3774	95	18	their	their	PRON
fsr-3774	95	19	monthly	monthly	ADJ
fsr-3774	95	20	commissions	commission	NOUN
fsr-3774	95	21	in	in	ADP
fsr-3774	95	22	the	the	DET
fsr-3774	95	23	last	last	ADJ
fsr-3774	95	24	week	week	NOUN
fsr-3774	95	25	of	of	ADP
fsr-3774	95	26	the	the	DET
fsr-3774	95	27	production	production	NOUN
fsr-3774	95	28	month	month	NOUN
fsr-3774	95	29	.	.	PUNCT
fsr-3774	95	30	)	)	PUNCT
fsr-3774	96	1	the	the	DET
fsr-3774	96	2	final	final	ADJ
fsr-3774	96	3	column	column	NOUN
fsr-3774	96	4	in	in	ADP
fsr-3774	96	5	panel	panel	NOUN
fsr-3774	96	6	a	a	PRON
fsr-3774	96	7	provides	provide	VERB
fsr-3774	96	8	the	the	DET
fsr-3774	96	9	combined	combine	VERB
fsr-3774	96	10	data	datum	NOUN
fsr-3774	96	11	for	for	ADP
fsr-3774	96	12	all	all	DET
fsr-3774	96	13	loo	loo	NOUN
fsr-3774	96	14	brokers	broker	NOUN
fsr-3774	96	15	in	in	ADP
fsr-3774	96	16	the	the	DET
fsr-3774	96	17	sample	sample	NOUN
fsr-3774	96	18	by	by	ADP
fsr-3774	96	19	showing	show	VERB
fsr-3774	96	20	the	the	DET
fsr-3774	96	21	average	average	ADJ
fsr-3774	96	22	proportion	proportion	NOUN
fsr-3774	96	23	of	of	ADP
fsr-3774	96	24	monthly	monthly	ADJ
fsr-3774	96	25	com	com	NOUN
fsr-3774	96	26	~	~	NOUN
fsr-3774	96	27	ssions	ssion	NOUN
fsr-3774	96	28	earned	earn	VERB
fsr-3774	96	29	across	across	ADP
fsr-3774	96	30	the	the	DET
fsr-3774	96	31	sampl6	sampl6	NOUN
fsr-3774	96	32	if	if	SCONJ
fsr-3774	96	33	trading	trading	NOUN
fsr-3774	96	34	is	be	AUX
fsr-3774	96	35	uniformly	uniformly	ADV
fsr-3774	96	36	distributed	distribute	VERB
fsr-3774	96	37	across	across	ADP
fsr-3774	96	38	the	the	DET
fsr-3774	96	39	19	19	NUM
fsr-3774	96	40	-	-	PUNCT
fsr-3774	96	41	day	day	NOUN
fsr-3774	96	42	commission	commission	NOUN
fsr-3774	96	43	month	month	NOUN
fsr-3774	96	44	,	,	PUNCT
fsr-3774	96	45	one	one	PRON
fsr-3774	96	46	may	may	AUX
fsr-3774	96	47	expect	expect	VERB
fsr-3774	96	48	about	about	ADP
fsr-3774	96	49	1119th	1119th	ADJ
fsr-3774	96	50	(	(	PUNCT
fsr-3774	96	51	or	or	CCONJ
fsr-3774	96	52	5.26	5.26	NUM
fsr-3774	96	53	%	%	NOUN
fsr-3774	96	54	)	)	PUNCT
fsr-3774	96	55	of	of	ADP
fsr-3774	96	56	the	the	DET
fsr-3774	96	57	brokers	broker	NOUN
fsr-3774	96	58	’	'	PUNCT
fsr-3774	96	59	total	total	ADJ
fsr-3774	96	60	19	19	NUM
fsr-3774	96	61	-	-	PUNCT
fsr-3774	96	62	day	day	NOUN
fsr-3774	96	63	commissions	commission	NOUN
fsr-3774	96	64	to	to	PART
fsr-3774	96	65	be	be	AUX
fsr-3774	96	66	earned	earn	VERB
fsr-3774	96	67	each	each	DET
fsr-3774	96	68	trading	trading	NOUN
fsr-3774	96	69	day	day	NOUN
fsr-3774	96	70	.	.	PUNCT
fsr-3774	97	1	thus	thus	ADV
fsr-3774	97	2	,	,	PUNCT
fsr-3774	97	3	the	the	DET
fsr-3774	97	4	null	null	ADJ
fsr-3774	97	5	h	h	NOUN
fsr-3774	97	6	~	~	NOUN
fsr-3774	97	7	othesis	othesis	NOUN
fsr-3774	97	8	in	in	ADP
fsr-3774	97	9	this	this	DET
fsr-3774	97	10	section	section	NOUN
fsr-3774	97	11	is	be	AUX
fsr-3774	97	12	that	that	SCONJ
fsr-3774	97	13	the	the	DET
fsr-3774	97	14	pro~~ions	pro~~ion	NOUN
fsr-3774	97	15	are	be	AUX
fsr-3774	97	16	equal	equal	ADJ
fsr-3774	97	17	to	to	ADP
fsr-3774	97	18	5.26	5.26	NUM
fsr-3774	97	19	%	%	NOUN
fsr-3774	97	20	.	.	PUNCT
fsr-3774	98	1	the	the	DET
fsr-3774	98	2	alternative	alternative	ADJ
fsr-3774	98	3	hypothesis	hypothesis	NOUN
fsr-3774	98	4	is	be	AUX
fsr-3774	98	5	that	that	SCONJ
fsr-3774	98	6	near	near	ADP
fsr-3774	98	7	the	the	DET
fsr-3774	98	8	end	end	NOUN
fsr-3774	98	9	of	of	ADP
fsr-3774	98	10	the	the	DET
fsr-3774	98	11	commission	commission	NOUN
fsr-3774	98	12	month	month	NOUN
fsr-3774	98	13	,	,	PUNCT
fsr-3774	98	14	these	these	DET
fsr-3774	98	15	proportions	proportion	NOUN
fsr-3774	98	16	are	be	AUX
fsr-3774	98	17	greater	great	ADJ
fsr-3774	98	18	than	than	ADP
fsr-3774	98	19	5.26	5.26	NUM
fsr-3774	98	20	%	%	NOUN
fsr-3774	98	21	,	,	PUNCT
fsr-3774	98	22	as	as	SCONJ
fsr-3774	98	23	brokers	broker	NOUN
fsr-3774	98	24	try	try	VERB
fsr-3774	98	25	to	to	PART
fsr-3774	98	26	meet	meet	VERB
fsr-3774	98	27	their	their	PRON
fsr-3774	98	28	commission	commission	NOUN
fsr-3774	98	29	goals	goal	NOUN
fsr-3774	98	30	.	.	PUNCT
fsr-3774	99	1	a	a	DET
fsr-3774	99	2	r	r	NOUN
fsr-3774	99	3	-	-	PUNCT
fsr-3774	99	4	test	test	NOUN
fsr-3774	99	5	is	be	AUX
fsr-3774	99	6	used	use	VERB
fsr-3774	99	7	to	to	PART
fsr-3774	99	8	test	test	VERB
fsr-3774	99	9	if	if	SCONJ
fsr-3774	99	10	the	the	DET
fsr-3774	99	11	numbers	number	NOUN
fsr-3774	99	12	in	in	ADP
fsr-3774	99	13	panel	panel	NOUN
fsr-3774	99	14	a	a	PRON
fsr-3774	99	15	of	of	ADP
fsr-3774	99	16	table	table	NOUN
fsr-3774	99	17	1	1	NUM
fsr-3774	99	18	are	be	AUX
fsr-3774	99	19	significantly	significantly	ADV
fsr-3774	99	20	different	different	ADJ
fsr-3774	99	21	from	from	ADP
fsr-3774	99	22	5.26	5.26	NUM
fsr-3774	99	23	%	%	NOUN
fsr-3774	99	24	.	.	PUNCT
fsr-3774	100	1	for	for	ADP
fsr-3774	100	2	example	example	NOUN
fsr-3774	100	3	,	,	PUNCT
fsr-3774	100	4	we	we	PRON
fsr-3774	100	5	test	test	VERB
fsr-3774	100	6	whether	whether	SCONJ
fsr-3774	100	7	the	the	DET
fsr-3774	100	8	19.25	19.25	NUM
fsr-3774	100	9	%	%	NOUN
fsr-3774	100	10	for	for	ADP
fsr-3774	100	11	broker	broker	NOUN
fsr-3774	100	12	1	1	NUM
fsr-3774	100	13	on	on	ADP
fsr-3774	100	14	trading	trading	NOUN
fsr-3774	100	15	day	day	NOUN
fsr-3774	100	16	1	1	NUM
fsr-3774	100	17	is	be	AUX
fsr-3774	100	18	signi	signi	ADJ
fsr-3774	100	19	~	~	X
fsr-3774	100	20	cantly	cantly	ADV
fsr-3774	100	21	different	different	ADJ
fsr-3774	100	22	from	from	ADP
fsr-3774	100	23	5.26	5.26	NUM
fsr-3774	100	24	%	%	NOUN
fsr-3774	100	25	.	.	PUNCT
fsr-3774	101	1	the	the	DET
fsr-3774	101	2	sample	sample	NOUN
fsr-3774	101	3	standard	standard	ADJ
fsr-3774	101	4	deviation	deviation	NOUN
fsr-3774	101	5	,	,	PUNCT
fsr-3774	101	6	across	across	ADP
fsr-3774	101	7	the	the	DET
fsr-3774	101	8	24	24	NUM
fsr-3774	101	9	day	day	NOUN
fsr-3774	101	10	is	be	AUX
fsr-3774	101	11	for	for	ADP
fsr-3774	101	12	the	the	DET
fsr-3774	101	13	commission	commission	NOUN
fsr-3774	101	14	proportions	proportion	NOUN
fsr-3774	101	15	of	of	ADP
fsr-3774	101	16	broker	broker	PROPN
fsr-3774	101	17	1	1	NUM
fsr-3774	101	18	,	,	PUNCT
fsr-3774	101	19	is	be	AUX
fsr-3774	101	20	23.82	23.82	NUM
fsr-3774	101	21	%	%	NOUN
fsr-3774	101	22	.	.	PUNCT
fsr-3774	102	1	the	the	DET
fsr-3774	102	2	f	f	NOUN
fsr-3774	102	3	-	-	PUNCT
fsr-3774	102	4	value	value	NOUN
fsr-3774	102	5	for	for	ADP
fsr-3774	102	6	this	this	DET
fsr-3774	102	7	test	test	NOUN
fsr-3774	102	8	is	be	AUX
fsr-3774	102	9	2.88	2.88	NUM
fsr-3774	102	10	,	,	PUNCT
fsr-3774	102	11	where	where	SCONJ
fsr-3774	102	12	t	t	PROPN
fsr-3774	102	13	is	be	AUX
fsr-3774	102	14	found	find	VERB
fsr-3774	102	15	by	by	ADP
fsr-3774	102	16	:	:	PUNCT
fsr-3774	102	17	t	t	NOUN
fsr-3774	102	18	=	=	SYM
fsr-3774	102	19	(	(	PUNCT
fsr-3774	102	20	19.25	19.25	NUM
fsr-3774	102	21	5.26)/(23.821fi	5.26)/(23.821fi	NOUN
fsr-3774	102	22	)	)	PUNCT
fsr-3774	102	23	=	=	SYM
fsr-3774	103	1	2.88	2.88	NUM
fsr-3774	103	2	.	.	PUNCT
fsr-3774	104	1	(	(	PUNCT
fsr-3774	104	2	3	3	X
fsr-3774	104	3	)	)	PUNCT
fsr-3774	104	4	using	use	VERB
fsr-3774	104	5	a	a	DET
fsr-3774	104	6	one	one	NUM
fsr-3774	104	7	-	-	PUNCT
fsr-3774	104	8	tailed	tail	VERB
fsr-3774	104	9	test	test	NOUN
fsr-3774	104	10	,	,	PUNCT
fsr-3774	104	11	this	this	DET
fsr-3774	104	12	t	t	NOUN
fsr-3774	104	13	-	-	PUNCT
fsr-3774	104	14	value	value	NOUN
fsr-3774	104	15	suggests	suggest	VERB
fsr-3774	104	16	that	that	SCONJ
fsr-3774	104	17	the	the	DET
fsr-3774	104	18	commission	commission	NOUN
fsr-3774	104	19	proportion	proportion	NOUN
fsr-3774	104	20	of	of	ADP
fsr-3774	104	21	19.25	19.25	NUM
fsr-3774	104	22	%	%	NOUN
fsr-3774	104	23	is	be	AUX
fsr-3774	104	24	signi	signi	ADJ
fsr-3774	104	25	~	~	X
fsr-3774	104	26	cantly	cantly	ADV
fsr-3774	104	27	different	different	ADJ
fsr-3774	104	28	from	from	ADP
fsr-3774	104	29	the	the	DET
fsr-3774	104	30	hypothesize	hypothesize	NOUN
fsr-3774	104	31	value	value	NOUN
fsr-3774	104	32	of	of	ADP
fsr-3774	104	33	5.26	5.26	NUM
fsr-3774	104	34	at	at	ADP
fsr-3774	104	35	the	the	DET
fsr-3774	104	36	1	1	NUM
fsr-3774	104	37	%	%	NOUN
fsr-3774	104	38	level	level	NOUN
fsr-3774	104	39	of	of	ADP
fsr-3774	104	40	confidence	confidence	NOUN
fsr-3774	104	41	.	.	PUNCT
fsr-3774	105	1	financial	financial	ADJ
fsr-3774	105	2	services	service	NOUN
fsr-3774	105	3	review	review	NOUN
fsr-3774	105	4	4(2	4(2	NUM
fsr-3774	105	5	)	)	PUNCT
fsr-3774	106	1	1995	1995	NUM
fsr-3774	106	2	table	table	NOUN
fsr-3774	106	3	1	1	NUM
fsr-3774	106	4	percentage	percentage	NOUN
fsr-3774	106	5	of	of	ADP
fsr-3774	106	6	total	total	ADJ
fsr-3774	106	7	monthly	monthly	ADJ
fsr-3774	106	8	commissions	commission	NOUN
fsr-3774	106	9	earned	earn	VERB
fsr-3774	106	10	by	by	ADP
fsr-3774	106	11	individual	individual	ADJ
fsr-3774	106	12	brokers	broker	NOUN
fsr-3774	106	13	during	during	ADP
fsr-3774	106	14	the	the	DET
fsr-3774	106	15	last	last	ADJ
fsr-3774	106	16	week	week	NOUN
fsr-3774	106	17	of	of	ADP
fsr-3774	106	18	the	the	DET
fsr-3774	106	19	production	production	NOUN
fsr-3774	106	20	month	month	NOUN
fsr-3774	106	21	numbers	number	NOUN
fsr-3774	106	22	in	in	ADP
fsr-3774	106	23	the	the	DET
fsr-3774	106	24	columns	column	NOUN
fsr-3774	106	25	are	be	AUX
fsr-3774	106	26	the	the	DET
fsr-3774	106	27	average	average	ADJ
fsr-3774	106	28	percentage	percentage	NOUN
fsr-3774	106	29	of	of	ADP
fsr-3774	106	30	total	total	ADJ
fsr-3774	106	31	monthly	monthly	ADJ
fsr-3774	106	32	commissions	commission	NOUN
fsr-3774	106	33	earned	earn	VERB
fsr-3774	106	34	by	by	ADP
fsr-3774	106	35	that	that	DET
fsr-3774	106	36	broker	broker	NOUN
fsr-3774	106	37	on	on	ADP
fsr-3774	106	38	the	the	DET
fsr-3774	106	39	trading	trading	NOUN
fsr-3774	106	40	day	day	NOUN
fsr-3774	106	41	(	(	PUNCT
fsr-3774	106	42	panel	panel	NOUN
fsr-3774	106	43	a	a	NOUN
fsr-3774	106	44	)	)	PUNCT
fsr-3774	106	45	or	or	CCONJ
fsr-3774	106	46	the	the	DET
fsr-3774	106	47	group	group	NOUN
fsr-3774	106	48	of	of	ADP
fsr-3774	106	49	trading	trading	NOUN
fsr-3774	106	50	days	day	NOUN
fsr-3774	106	51	(	(	PUNCT
fsr-3774	106	52	panel	panel	NOUN
fsr-3774	106	53	b	b	NOUN
fsr-3774	106	54	)	)	PUNCT
fsr-3774	106	55	listed	list	VERB
fsr-3774	106	56	in	in	ADP
fsr-3774	106	57	the	the	DET
fsr-3774	106	58	first	first	ADJ
fsr-3774	106	59	column	column	NOUN
fsr-3774	106	60	.	.	PUNCT
fsr-3774	107	1	trading	trading	NOUN
fsr-3774	107	2	day	day	NOUN
fsr-3774	107	3	i	i	PRON
fsr-3774	107	4	is	be	AUX
fsr-3774	107	5	the	the	DET
fsr-3774	107	6	last	last	ADJ
fsr-3774	107	7	day	day	NOUN
fsr-3774	107	8	of	of	ADP
fsr-3774	107	9	the	the	DET
fsr-3774	107	10	production	production	NOUN
fsr-3774	107	11	month	month	NOUN
fsr-3774	107	12	,	,	PUNCT
fsr-3774	107	13	trading	trading	NOUN
fsr-3774	107	14	day	day	NOUN
fsr-3774	107	15	2	2	NUM
fsr-3774	107	16	is	be	AUX
fsr-3774	107	17	the	the	DET
fsr-3774	107	18	next	next	ADJ
fsr-3774	107	19	-	-	PUNCT
fsr-3774	107	20	to	to	ADP
fsr-3774	107	21	-	-	PUNCT
fsr-3774	107	22	last	last	ADJ
fsr-3774	107	23	day	day	NOUN
fsr-3774	107	24	.	.	PUNCT
fsr-3774	108	1	and	and	CCONJ
fsr-3774	108	2	so	so	ADV
fsr-3774	108	3	forth	forth	ADV
fsr-3774	108	4	.	.	PUNCT
fsr-3774	109	1	average	average	NOUN
fsr-3774	109	2	of	of	ADP
fsr-3774	109	3	trading	trading	NOUN
fsr-3774	109	4	loo	loo	PROPN
fsr-3774	109	5	day	day	PROPN
fsr-3774	109	6	broker	broker	NOUN
fsr-3774	109	7	i	i	PRON
fsr-3774	109	8	broker	broker	VERB
fsr-3774	109	9	2	2	NUM
fsr-3774	109	10	broker	broker	NOUN
fsr-3774	109	11	3	3	NUM
fsr-3774	109	12	broker	broker	NOUN
fsr-3774	109	13	4	4	NUM
fsr-3774	109	14	broker	broker	NOUN
fsr-3774	109	15	5	5	NUM
fsr-3774	109	16	broker	broker	NOUN
fsr-3774	109	17	6	6	NUM
fsr-3774	109	18	broker	broker	NOUN
fsr-3774	109	19	7	7	NUM
fsr-3774	109	20	brokers	broker	NOUN
fsr-3774	109	21	panel	panel	NOUN
fsr-3774	109	22	a	a	DET
fsr-3774	109	23	:	:	PUNCT
fsr-3774	109	24	single	single	ADJ
fsr-3774	109	25	trading	trading	NOUN
fsr-3774	109	26	days	day	NOUN
fsr-3774	109	27	1	1	NUM
fsr-3774	109	28	19.25	19.25	NUM
fsr-3774	109	29	*	*	NOUN
fsr-3774	109	30	8.06	8.06	NUM
fsr-3774	109	31	17.32	17.32	NUM
fsr-3774	109	32	*	*	SYM
fsr-3774	109	33	14.39	14.39	NUM
fsr-3774	109	34	*	*	NUM
fsr-3774	109	35	1.97	1.97	NUM
fsr-3774	109	36	11.36	11.36	NUM
fsr-3774	109	37	*	*	PUNCT
fsr-3774	109	38	*	*	PUNCT
fsr-3774	109	39	6.94	6.94	NUM
fsr-3774	109	40	6.16	6.16	NUM
fsr-3774	109	41	*	*	SYM
fsr-3774	109	42	2	2	NUM
fsr-3774	109	43	6.36	6.36	NUM
fsr-3774	109	44	12.45	12.45	NUM
fsr-3774	109	45	*	*	PUNCT
fsr-3774	109	46	*	*	PUNCT
fsr-3774	109	47	6.60	6.60	NUM
fsr-3774	109	48	10.05	10.05	NUM
fsr-3774	109	49	*	*	PUNCT
fsr-3774	109	50	*	*	PUNCT
fsr-3774	109	51	8.06	8.06	NUM
fsr-3774	109	52	5.52	5.52	NUM
fsr-3774	109	53	7.93	7.93	NUM
fsr-3774	109	54	5.72	5.72	NUM
fsr-3774	109	55	*	*	PUNCT
fsr-3774	109	56	*	*	PROPN
fsr-3774	109	57	3	3	NUM
fsr-3774	109	58	9.36	9.36	NUM
fsr-3774	109	59	9.59	9.59	NUM
fsr-3774	109	60	4.60	4.60	NUM
fsr-3774	109	61	7.68	7.68	NUM
fsr-3774	109	62	19.50	19.50	NUM
fsr-3774	109	63	*	*	PUNCT
fsr-3774	109	64	*	*	PROPN
fsr-3774	109	65	1024	1024	NUM
fsr-3774	109	66	6.62	6.62	NUM
fsr-3774	109	67	5.66	5.66	NUM
fsr-3774	109	68	4	4	NUM
fsr-3774	109	69	10.64	10.64	NUM
fsr-3774	109	70	*	*	PUNCT
fsr-3774	109	71	*	*	PUNCT
fsr-3774	109	72	4.95	4.95	NUM
fsr-3774	109	73	7.04	7.04	NUM
fsr-3774	109	74	5.76	5.76	NUM
fsr-3774	109	75	8.15	8.15	NUM
fsr-3774	109	76	5.88	5.88	NUM
fsr-3774	109	77	9.76	9.76	NUM
fsr-3774	109	78	5.52	5.52	NUM
fsr-3774	109	79	5	5	NUM
fsr-3774	109	80	3.73	3.73	NUM
fsr-3774	109	81	11.88	11.88	NUM
fsr-3774	109	82	9.61	9.61	NUM
fsr-3774	109	83	*	*	SYM
fsr-3774	109	84	*	*	PUNCT
fsr-3774	109	85	4.80	4.80	NUM
fsr-3774	109	86	4.01	4.01	NUM
fsr-3774	109	87	7.34	7.34	NUM
fsr-3774	109	88	9.16	9.16	NUM
fsr-3774	109	89	*	*	PUNCT
fsr-3774	109	90	*	*	PUNCT
fsr-3774	109	91	5.55	5.55	NUM
fsr-3774	109	92	panel	panel	NOUN
fsr-3774	109	93	b	b	NOUN
fsr-3774	109	94	:	:	PUNCT
fsr-3774	109	95	grouped	group	VERB
fsr-3774	109	96	trading	trading	NOUN
fsr-3774	109	97	days	day	NOUN
fsr-3774	109	98	last	last	ADJ
fsr-3774	109	99	few	few	ADJ
fsr-3774	109	100	trading	trading	NOUN
fsr-3774	109	101	days	day	NOUN
fsr-3774	109	102	2	2	NUM
fsr-3774	109	103	days	day	NOUN
fsr-3774	109	104	25.61	25.61	NUM
fsr-3774	109	105	*	*	PUNCT
fsr-3774	109	106	20.51	20.51	NUM
fsr-3774	109	107	23.93	23.93	NUM
fsr-3774	109	108	*	*	PUNCT
fsr-3774	109	109	24.44	24.44	NUM
fsr-3774	109	110	*	*	PROPN
fsr-3774	109	111	10.03	10.03	NUM
fsr-3774	109	112	16.87	16.87	NUM
fsr-3774	109	113	*	*	PUNCT
fsr-3774	109	114	14.87	14.87	NUM
fsr-3774	109	115	11.88	11.88	NUM
fsr-3774	109	116	*	*	SYM
fsr-3774	109	117	3	3	NUM
fsr-3774	109	118	days	day	NOUN
fsr-3774	109	119	34.96	34.96	NUM
fsr-3774	109	120	*	*	SYM
fsr-3774	109	121	30.10	30.10	NUM
fsr-3774	109	122	*	*	PUNCT
fsr-3774	109	123	*	*	PUNCT
fsr-3774	110	1	28.52	28.52	NUM
fsr-3774	110	2	*	*	PUNCT
fsr-3774	110	3	32.12	32.12	NUM
fsr-3774	110	4	*	*	SYM
fsr-3774	110	5	29.53	29.53	NUM
fsr-3774	110	6	*	*	X
fsr-3774	110	7	*	*	PUNCT
fsr-3774	111	1	27.72	27.72	NUM
fsr-3774	111	2	*	*	PROPN
fsr-3774	111	3	21.49	21.49	NUM
fsr-3774	111	4	17.54	17.54	NUM
fsr-3774	111	5	*	*	SYM
fsr-3774	111	6	4	4	NUM
fsr-3774	111	7	days	day	NOUN
fsr-3774	111	8	45.60	45.60	NUM
fsr-3774	111	9	*	*	SYM
fsr-3774	111	10	35.05	35.05	NUM
fsr-3774	111	11	*	*	X
fsr-3774	111	12	*	*	PROPN
fsr-3774	112	1	35.57	35.57	NUM
fsr-3774	112	2	*	*	PUNCT
fsr-3774	112	3	37.88	37.88	NUM
fsr-3774	112	4	*	*	PUNCT
fsr-3774	112	5	*	*	PUNCT
fsr-3774	113	1	37.68	37.68	NUM
fsr-3774	113	2	*	*	X
fsr-3774	113	3	*	*	PUNCT
fsr-3774	113	4	33.60	33.60	NUM
fsr-3774	113	5	*	*	PUNCT
fsr-3774	113	6	31.25	31.25	NUM
fsr-3774	113	7	*	*	PUNCT
fsr-3774	113	8	*	*	PUNCT
fsr-3774	113	9	23.06	23.06	NUM
fsr-3774	113	10	*	*	SYM
fsr-3774	113	11	5	5	NUM
fsr-3774	113	12	days	day	NOUN
fsr-3774	113	13	49.33	49.33	NUM
fsr-3774	113	14	*	*	PUNCT
fsr-3774	113	15	46.93	46.93	NUM
fsr-3774	113	16	*	*	PUNCT
fsr-3774	113	17	*	*	PUNCT
fsr-3774	114	1	45.18	45.18	NUM
fsr-3774	114	2	*	*	PUNCT
fsr-3774	115	1	42.69	42.69	NUM
fsr-3774	115	2	*	*	SYM
fsr-3774	115	3	41.69	41.69	NUM
fsr-3774	115	4	*	*	PUNCT
fsr-3774	115	5	*	*	PUNCT
fsr-3774	116	1	40.94	40.94	NUM
fsr-3774	116	2	*	*	PUNCT
fsr-3774	117	1	40.41	40.41	NUM
fsr-3774	117	2	*	*	PUNCT
fsr-3774	117	3	*	*	PUNCT
fsr-3774	117	4	28.69	28.69	NUM
fsr-3774	117	5	*	*	NOUN
fsr-3774	117	6	notes	note	NOUN
fsr-3774	117	7	:	:	PUNCT
fsr-3774	117	8	*	*	PUNCT
fsr-3774	117	9	significant	significant	ADJ
fsr-3774	117	10	at	at	ADP
fsr-3774	117	11	the	the	DET
fsr-3774	117	12	i	i	NOUN
fsr-3774	117	13	%	%	NOUN
fsr-3774	117	14	level	level	NOUN
fsr-3774	117	15	,	,	PUNCT
fsr-3774	117	16	using	use	VERB
fsr-3774	117	17	a	a	DET
fsr-3774	117	18	one	one	NUM
fsr-3774	117	19	-	-	PUNCT
fsr-3774	117	20	tailed	tail	VERB
fsr-3774	117	21	test	test	NOUN
fsr-3774	117	22	.	.	PUNCT
fsr-3774	118	1	*	*	PUNCT
fsr-3774	118	2	*	*	PUNCT
fsr-3774	118	3	significant	significant	ADJ
fsr-3774	118	4	at	at	ADP
fsr-3774	118	5	the	the	DET
fsr-3774	118	6	5	5	NUM
fsr-3774	118	7	%	%	NOUN
fsr-3774	118	8	level	level	NOUN
fsr-3774	118	9	,	,	PUNCT
fsr-3774	118	10	using	use	VERB
fsr-3774	118	11	a	a	DET
fsr-3774	118	12	one	one	NUM
fsr-3774	118	13	-	-	PUNCT
fsr-3774	118	14	tailed	tail	VERB
fsr-3774	118	15	test	test	NOUN
fsr-3774	118	16	.	.	PUNCT
fsr-3774	119	1	overall	overall	ADV
fsr-3774	119	2	,	,	PUNCT
fsr-3774	119	3	for	for	ADP
fsr-3774	119	4	broker	broker	NOUN
fsr-3774	119	5	1	1	NUM
fsr-3774	119	6	,	,	PUNCT
fsr-3774	119	7	the	the	DET
fsr-3774	119	8	day	day	NOUN
fsr-3774	119	9	1	1	NUM
fsr-3774	119	10	and	and	CCONJ
fsr-3774	119	11	day	day	NOUN
fsr-3774	119	12	4	4	NUM
fsr-3774	119	13	proportions	proportion	NOUN
fsr-3774	119	14	are	be	AUX
fsr-3774	119	15	significantly	significantly	ADV
fsr-3774	119	16	higher	high	ADJ
fsr-3774	119	17	than	than	ADP
fsr-3774	119	18	the	the	DET
fsr-3774	119	19	expected	expect	VERB
fsr-3774	119	20	values	value	NOUN
fsr-3774	119	21	.	.	PUNCT
fsr-3774	120	1	each	each	PRON
fsr-3774	120	2	of	of	ADP
fsr-3774	120	3	the	the	DET
fsr-3774	120	4	other	other	ADJ
fsr-3774	120	5	brokers	broker	NOUN
fsr-3774	120	6	shown	show	VERB
fsr-3774	120	7	in	in	ADP
fsr-3774	120	8	panel	panel	NOUN
fsr-3774	120	9	a	a	PRON
fsr-3774	120	10	of	of	ADP
fsr-3774	120	11	table	table	NOUN
fsr-3774	120	12	1	1	NUM
fsr-3774	120	13	has	have	VERB
fsr-3774	120	14	daily	daily	ADJ
fsr-3774	120	15	averages	average	NOUN
fsr-3774	120	16	that	that	PRON
fsr-3774	120	17	are	be	AUX
fsr-3774	120	18	higher	high	ADJ
fsr-3774	120	19	than	than	SCONJ
fsr-3774	120	20	expected	expect	VERB
fsr-3774	120	21	.	.	PUNCT
fsr-3774	121	1	similar	similar	ADJ
fsr-3774	121	2	calculations	calculation	NOUN
fsr-3774	121	3	can	can	AUX
fsr-3774	121	4	be	be	AUX
fsr-3774	121	5	made	make	VERB
fsr-3774	121	6	using	use	VERB
fsr-3774	121	7	the	the	DET
fsr-3774	121	8	average	average	ADJ
fsr-3774	121	9	proportions	proportion	NOUN
fsr-3774	121	10	across	across	ADP
fsr-3774	121	11	all	all	DET
fsr-3774	121	12	100	100	NUM
fsr-3774	121	13	brokers	broker	NOUN
fsr-3774	121	14	,	,	PUNCT
fsr-3774	121	15	as	as	SCONJ
fsr-3774	121	16	shown	show	VERB
fsr-3774	121	17	in	in	ADP
fsr-3774	121	18	the	the	DET
fsr-3774	121	19	final	final	ADJ
fsr-3774	121	20	column	column	NOUN
fsr-3774	121	21	of	of	ADP
fsr-3774	121	22	panel	panel	NOUN
fsr-3774	121	23	a.	a.	NOUN
fsr-3774	121	24	the	the	DET
fsr-3774	121	25	table	table	NOUN
fsr-3774	121	26	shows	show	VERB
fsr-3774	121	27	that	that	SCONJ
fsr-3774	121	28	an	an	DET
fsr-3774	121	29	average	average	NOUN
fsr-3774	121	30	of	of	ADP
fsr-3774	121	31	6.16	6.16	NUM
fsr-3774	121	32	%	%	NOUN
fsr-3774	121	33	of	of	ADP
fsr-3774	121	34	brokers	broker	NOUN
fsr-3774	121	35	’	'	PUNCT
fsr-3774	121	36	commission	commission	NOUN
fsr-3774	121	37	income	income	NOUN
fsr-3774	121	38	was	be	AUX
fsr-3774	121	39	earned	earn	VERB
fsr-3774	121	40	on	on	ADP
fsr-3774	121	41	day	day	NOUN
fsr-3774	121	42	1	1	NUM
fsr-3774	121	43	.	.	PUNCT
fsr-3774	122	1	this	this	DET
fsr-3774	122	2	6.16	6.16	NUM
fsr-3774	122	3	%	%	NOUN
fsr-3774	122	4	for	for	ADP
fsr-3774	122	5	day	day	NOUN
fsr-3774	122	6	1	1	NUM
fsr-3774	122	7	is	be	AUX
fsr-3774	122	8	significantly	significantly	ADV
fsr-3774	122	9	different	different	ADJ
fsr-3774	122	10	(	(	PUNCT
fsr-3774	122	11	at	at	ADP
fsr-3774	122	12	the	the	DET
fsr-3774	122	13	1	1	NUM
fsr-3774	122	14	%	%	NOUN
fsr-3774	122	15	level	level	NOUN
fsr-3774	122	16	)	)	PUNCT
fsr-3774	122	17	from	from	ADP
fsr-3774	122	18	the	the	DET
fsr-3774	122	19	hypothesized	hypothesized	ADJ
fsr-3774	122	20	value	value	NOUN
fsr-3774	122	21	5.26	5.26	NUM
fsr-3774	122	22	%	%	NOUN
fsr-3774	122	23	,	,	PUNCT
fsr-3774	122	24	with	with	ADP
fsr-3774	122	25	a	a	DET
fsr-3774	122	26	r	r	NOUN
fsr-3774	122	27	-	-	PUNCT
fsr-3774	122	28	value	value	NOUN
fsr-3774	122	29	of	of	ADP
fsr-3774	122	30	3.42	3.42	NUM
fsr-3774	122	31	.	.	PUNCT
fsr-3774	123	1	the	the	DET
fsr-3774	123	2	day	day	NOUN
fsr-3774	123	3	2	2	NUM
fsr-3774	123	4	value	value	NOUN
fsr-3774	123	5	of	of	ADP
fsr-3774	123	6	5.72	5.72	NUM
fsr-3774	123	7	%	%	NOUN
fsr-3774	123	8	is	be	AUX
fsr-3774	123	9	also	also	ADV
fsr-3774	123	10	significantly	significantly	ADV
fsr-3774	123	11	higher	high	ADJ
fsr-3774	123	12	for	for	ADP
fsr-3774	123	13	the	the	DET
fsr-3774	123	14	firm	firm	NOUN
fsr-3774	123	15	(	(	PUNCT
fsr-3774	123	16	but	but	CCONJ
fsr-3774	123	17	at	at	ADP
fsr-3774	123	18	the	the	DET
fsr-3774	123	19	5	5	NUM
fsr-3774	123	20	%	%	NOUN
fsr-3774	123	21	level	level	NOUN
fsr-3774	123	22	of	of	ADP
fsr-3774	123	23	significance	significance	NOUN
fsr-3774	123	24	)	)	PUNCT
fsr-3774	123	25	.	.	PUNCT
fsr-3774	124	1	panel	panel	NOUN
fsr-3774	124	2	b	b	PROPN
fsr-3774	124	3	of	of	ADP
fsr-3774	124	4	table	table	NOUN
fsr-3774	124	5	1	1	NUM
fsr-3774	124	6	presents	present	NOUN
fsr-3774	124	7	data	datum	NOUN
fsr-3774	124	8	by	by	ADP
fsr-3774	124	9	grouping	group	VERB
fsr-3774	124	10	the	the	DET
fsr-3774	124	11	commission	commission	NOUN
fsr-3774	124	12	proportions	proportion	NOUN
fsr-3774	124	13	into	into	ADP
fsr-3774	124	14	the	the	DET
fsr-3774	124	15	last	last	ADJ
fsr-3774	124	16	x	x	NOUN
fsr-3774	124	17	trading	trading	NOUN
fsr-3774	124	18	days	day	NOUN
fsr-3774	124	19	of	of	ADP
fsr-3774	124	20	the	the	DET
fsr-3774	124	21	commission	commission	NOUN
fsr-3774	124	22	month	month	NOUN
fsr-3774	124	23	.	.	PUNCT
fsr-3774	125	1	this	this	DET
fsr-3774	125	2	data	data	NOUN
fsr-3774	125	3	is	be	AUX
fsr-3774	125	4	used	use	VERB
fsr-3774	125	5	to	to	PART
fsr-3774	125	6	test	test	VERB
fsr-3774	125	7	if	if	SCONJ
fsr-3774	125	8	brokers	broker	NOUN
fsr-3774	125	9	earned	earn	VERB
fsr-3774	125	10	a	a	DET
fsr-3774	125	11	higher	high	ADJ
fsr-3774	125	12	than	than	SCONJ
fsr-3774	125	13	expected	expect	VERB
fsr-3774	125	14	portion	portion	NOUN
fsr-3774	125	15	of	of	ADP
fsr-3774	125	16	their	their	PRON
fsr-3774	125	17	commissions	commission	NOUN
fsr-3774	125	18	in	in	ADP
fsr-3774	125	19	the	the	DET
fsr-3774	125	20	last	last	ADJ
fsr-3774	125	21	x	x	NOUN
fsr-3774	125	22	days	day	NOUN
fsr-3774	125	23	of	of	ADP
fsr-3774	125	24	the	the	DET
fsr-3774	125	25	commission	commission	NOUN
fsr-3774	125	26	month	month	NOUN
fsr-3774	125	27	.	.	PUNCT
fsr-3774	126	1	the	the	DET
fsr-3774	126	2	null	null	ADJ
fsr-3774	126	3	hypothesis	hypothesis	NOUN
fsr-3774	126	4	is	be	AUX
fsr-3774	126	5	that	that	SCONJ
fsr-3774	126	6	for	for	ADP
fsr-3774	126	7	the	the	DET
fsr-3774	126	8	last	last	ADJ
fsr-3774	126	9	two	two	NUM
fsr-3774	126	10	,	,	PUNCT
fsr-3774	126	11	three	three	NUM
fsr-3774	126	12	,	,	PUNCT
fsr-3774	126	13	four	four	NUM
fsr-3774	126	14	,	,	PUNCT
fsr-3774	126	15	and	and	CCONJ
fsr-3774	126	16	live	live	ADJ
fsr-3774	126	17	days	day	NOUN
fsr-3774	126	18	of	of	ADP
fsr-3774	126	19	the	the	DET
fsr-3774	126	20	commission	commission	NOUN
fsr-3774	126	21	month	month	NOUN
fsr-3774	126	22	,	,	PUNCT
fsr-3774	126	23	the	the	DET
fsr-3774	126	24	broker	broker	NOUN
fsr-3774	126	25	or	or	CCONJ
fsr-3774	126	26	firm	firm	NOUN
fsr-3774	126	27	should	should	AUX
fsr-3774	126	28	earn	earn	VERB
fsr-3774	126	29	two-	two-	NUM
fsr-3774	126	30	,	,	PUNCT
fsr-3774	126	31	three-	three-	NOUN
fsr-3774	126	32	,	,	PUNCT
fsr-3774	126	33	four-	four-	X
fsr-3774	126	34	,	,	PUNCT
fsr-3774	126	35	and	and	CCONJ
fsr-3774	126	36	five	five	NUM
fsr-3774	126	37	-	-	PUNCT
fsr-3774	126	38	nineteenths	nineteenth	NOUN
fsr-3774	126	39	,	,	PUNCT
fsr-3774	126	40	respectively	respectively	ADV
fsr-3774	126	41	,	,	PUNCT
fsr-3774	126	42	of	of	ADP
fsr-3774	126	43	total	total	ADJ
fsr-3774	126	44	19	19	NUM
fsr-3774	126	45	-	-	PUNCT
fsr-3774	126	46	day	day	NOUN
fsr-3774	126	47	commissions	commission	NOUN
fsr-3774	126	48	.	.	PUNCT
fsr-3774	127	1	these	these	DET
fsr-3774	127	2	hypothesized	hypothesized	ADJ
fsr-3774	127	3	proportions	proportion	NOUN
fsr-3774	127	4	are	be	AUX
fsr-3774	127	5	10.53	10.53	NUM
fsr-3774	127	6	%	%	NOUN
fsr-3774	127	7	,	,	PUNCT
fsr-3774	127	8	15.79	15.79	NUM
fsr-3774	127	9	%	%	NOUN
fsr-3774	127	10	,	,	PUNCT
fsr-3774	127	11	21.05	21.05	NUM
fsr-3774	127	12	%	%	NOUN
fsr-3774	127	13	,	,	PUNCT
fsr-3774	127	14	and	and	CCONJ
fsr-3774	127	15	26.32	26.32	NUM
fsr-3774	127	16	%	%	NOUN
fsr-3774	127	17	,	,	PUNCT
fsr-3774	127	18	respectively	respectively	ADV
fsr-3774	127	19	.	.	PUNCT
fsr-3774	128	1	the	the	DET
fsr-3774	128	2	alternative	alternative	ADJ
fsr-3774	128	3	hypothesis	hypothesis	NOUN
fsr-3774	128	4	is	be	AUX
fsr-3774	128	5	that	that	SCONJ
fsr-3774	128	6	they	they	PRON
fsr-3774	128	7	tend	tend	VERB
fsr-3774	128	8	to	to	PART
fsr-3774	128	9	earn	earn	VERB
fsr-3774	128	10	more	more	ADJ
fsr-3774	128	11	than	than	ADP
fsr-3774	128	12	these	these	DET
fsr-3774	128	13	proportions	proportion	NOUN
fsr-3774	128	14	.	.	PUNCT
fsr-3774	129	1	the	the	DET
fsr-3774	129	2	evidence	evidence	NOUN
fsr-3774	129	3	shows	show	VERB
fsr-3774	129	4	that	that	SCONJ
fsr-3774	129	5	these	these	DET
fsr-3774	129	6	brokers	broker	NOUN
fsr-3774	129	7	did	do	AUX
fsr-3774	129	8	earn	earn	VERB
fsr-3774	129	9	a	a	DET
fsr-3774	129	10	significantly	significantly	ADV
fsr-3774	129	11	higher	high	ADJ
fsr-3774	129	12	proportion	proportion	NOUN
fsr-3774	129	13	of	of	ADP
fsr-3774	129	14	their	their	PRON
fsr-3774	129	15	commission	commission	NOUN
fsr-3774	129	16	income	income	NOUN
fsr-3774	129	17	in	in	ADP
fsr-3774	129	18	the	the	DET
fsr-3774	129	19	last	last	ADJ
fsr-3774	129	20	week	week	NOUN
fsr-3774	129	21	of	of	ADP
fsr-3774	129	22	the	the	DET
fsr-3774	129	23	production	production	NOUN
fsr-3774	129	24	month	month	NOUN
fsr-3774	129	25	.	.	PUNCT
fsr-3774	130	1	for	for	ADP
fsr-3774	130	2	example	example	NOUN
fsr-3774	130	3	,	,	PUNCT
fsr-3774	130	4	panel	panel	NOUN
fsr-3774	130	5	b	b	PROPN
fsr-3774	130	6	of	of	ADP
fsr-3774	130	7	table	table	NOUN
fsr-3774	130	8	commiwion	commiwion	NOUN
fsr-3774	130	9	-	-	PUNCT
fsr-3774	130	10	motivated	motivate	VERB
fsr-3774	130	11	trading	trading	NOUN
fsr-3774	130	12	patterns	pattern	NOUN
fsr-3774	130	13	of	of	ADP
fsr-3774	130	14	brokers	broker	NOUN
fsr-3774	130	15	87	87	NUM
fsr-3774	130	16	table	table	NOUN
fsr-3774	130	17	2	2	NUM
fsr-3774	130	18	number	number	NOUN
fsr-3774	130	19	of	of	ADP
fsr-3774	130	20	brokers	broker	NOUN
fsr-3774	130	21	categorized	categorize	VERB
fsr-3774	130	22	by	by	ADP
fsr-3774	130	23	proportion	proportion	NOUN
fsr-3774	130	24	of	of	ADP
fsr-3774	130	25	commissions	commission	NOUN
fsr-3774	130	26	in	in	ADP
fsr-3774	130	27	the	the	DET
fsr-3774	130	28	last	last	ADJ
fsr-3774	130	29	week	week	NOUN
fsr-3774	130	30	of	of	ADP
fsr-3774	130	31	the	the	DET
fsr-3774	130	32	production	production	NOUN
fsr-3774	130	33	month	month	NOUN
fsr-3774	130	34	this	this	DET
fsr-3774	130	35	table	table	NOUN
fsr-3774	130	36	shows	show	VERB
fsr-3774	130	37	the	the	DET
fsr-3774	130	38	number	number	NOUN
fsr-3774	130	39	of	of	ADP
fsr-3774	130	40	brokers	broker	NOUN
fsr-3774	130	41	out	out	ADP
fsr-3774	130	42	of	of	ADP
fsr-3774	130	43	the	the	DET
fsr-3774	130	44	total	total	ADJ
fsr-3774	130	45	sample	sample	NOUN
fsr-3774	130	46	of	of	ADP
fsr-3774	130	47	100	100	NUM
fsr-3774	130	48	who	who	PRON
fsr-3774	130	49	fall	fall	VERB
fsr-3774	130	50	into	into	ADP
fsr-3774	130	51	each	each	DET
fsr-3774	130	52	category	category	NOUN
fsr-3774	130	53	in	in	ADP
fsr-3774	130	54	the	the	DET
fsr-3774	130	55	first	first	ADJ
fsr-3774	130	56	column	column	NOUN
fsr-3774	130	57	.	.	PUNCT
fsr-3774	131	1	the	the	DET
fsr-3774	131	2	first	first	ADJ
fsr-3774	131	3	column	column	NOUN
fsr-3774	131	4	lists	list	NOUN
fsr-3774	131	5	.	.	PUNCT
fsr-3774	132	1	by	by	ADP
fsr-3774	132	2	spercentage	spercentage	NOUN
fsr-3774	132	3	-	-	PUNCT
fsr-3774	132	4	point	point	NOUN
fsr-3774	132	5	intervals	interval	NOUN
fsr-3774	132	6	,	,	PUNCT
fsr-3774	132	7	the	the	DET
fsr-3774	132	8	possible	possible	ADJ
fsr-3774	132	9	percentage	percentage	NOUN
fsr-3774	132	10	of	of	ADP
fsr-3774	132	11	commissions	commission	NOUN
fsr-3774	132	12	that	that	PRON
fsr-3774	132	13	each	each	PRON
fsr-3774	132	14	of	of	ADP
fsr-3774	132	15	the	the	DET
fsr-3774	132	16	sample	sample	NOUN
fsr-3774	132	17	brokers	broker	NOUN
fsr-3774	132	18	could	could	AUX
fsr-3774	132	19	have	have	AUX
fsr-3774	132	20	earned	earn	VERB
fsr-3774	132	21	,	,	PUNCT
fsr-3774	132	22	on	on	ADP
fsr-3774	132	23	average	average	ADJ
fsr-3774	132	24	over	over	ADP
fsr-3774	132	25	the	the	DET
fsr-3774	132	26	sample	sample	NOUN
fsr-3774	132	27	period	period	NOUN
fsr-3774	132	28	,	,	PUNCT
fsr-3774	132	29	during	during	ADP
fsr-3774	132	30	the	the	DET
fsr-3774	132	31	last	last	ADJ
fsr-3774	132	32	week	week	NOUN
fsr-3774	132	33	of	of	ADP
fsr-3774	132	34	the	the	DET
fsr-3774	132	35	19day	19day	NOUN
fsr-3774	132	36	production	production	NOUN
fsr-3774	132	37	month	month	NOUN
fsr-3774	132	38	proportion	proportion	NOUN
fsr-3774	132	39	of	of	ADP
fsr-3774	132	40	commissions	commission	NOUN
fsr-3774	132	41	brokers	broker	NOUN
fsr-3774	132	42	wirh	wirh	PROPN
fsr-3774	132	43	significantly	significantly	ADV
fsr-3774	132	44	higher	higher	ADV
fsr-3774	132	45	earned	earn	VERB
fsr-3774	132	46	in	in	ADP
fsr-3774	132	47	the	the	DET
fsr-3774	132	48	last	last	ADJ
fsr-3774	132	49	week	week	NOUN
fsr-3774	132	50	entire	entire	ADJ
fsr-3774	132	51	sample	sample	NOUN
fsr-3774	132	52	of	of	ADP
fsr-3774	132	53	100	100	NUM
fsr-3774	132	54	brokers	broker	NOUN
fsr-3774	132	55	trading	trade	VERB
fsr-3774	132	56	15	15	NUM
fsr-3774	132	57	to	to	PART
fsr-3774	132	58	19.99	19.99	NUM
fsr-3774	132	59	%	%	NOUN
fsr-3774	132	60	1	1	NUM
fsr-3774	132	61	20	20	NUM
fsr-3774	132	62	to	to	ADP
fsr-3774	132	63	24.99	24.99	NUM
fsr-3774	132	64	%	%	NOUN
fsr-3774	132	65	14	14	NUM
fsr-3774	132	66	25	25	NUM
fsr-3774	132	67	to	to	ADP
fsr-3774	132	68	29.99	29.99	NUM
fsr-3774	132	69	%	%	NOUN
fsr-3774	132	70	40	40	NUM
fsr-3774	132	71	30	30	NUM
fsr-3774	132	72	to	to	ADP
fsr-3774	132	73	34.99	34.99	NUM
fsr-3774	132	74	%	%	NOUN
fsr-3774	133	1	25	25	NUM
fsr-3774	133	2	9	9	NUM
fsr-3774	133	3	35	35	NUM
fsr-3774	133	4	to	to	ADP
fsr-3774	133	5	39.99	39.99	NUM
fsr-3774	133	6	%	%	NOUN
fsr-3774	133	7	13	13	NUM
fsr-3774	133	8	13	13	NUM
fsr-3774	133	9	40	40	NUM
fsr-3774	133	10	to	to	PART
fsr-3774	133	11	44.99	44.99	NUM
fsr-3774	133	12	%	%	NOUN
fsr-3774	133	13	4	4	NUM
fsr-3774	133	14	4	4	NUM
fsr-3774	133	15	45	45	NUM
fsr-3774	133	16	to	to	PART
fsr-3774	133	17	49.99	49.99	NUM
fsr-3774	133	18	%	%	NOUN
fsr-3774	133	19	3	3	NUM
fsr-3774	133	20	-j	-j	NOUN
fsr-3774	133	21	total	total	ADJ
fsr-3774	133	22	100	100	NUM
fsr-3774	133	23	29	29	NUM
fsr-3774	133	24	1	1	NUM
fsr-3774	133	25	shows	show	VERB
fsr-3774	133	26	that	that	SCONJ
fsr-3774	133	27	broker	broker	NOUN
fsr-3774	133	28	1	1	NUM
fsr-3774	133	29	earned	earn	VERB
fsr-3774	133	30	,	,	PUNCT
fsr-3774	133	31	on	on	ADP
fsr-3774	133	32	average	average	ADJ
fsr-3774	133	33	,	,	PUNCT
fsr-3774	133	34	25.61	25.61	NUM
fsr-3774	133	35	%	%	NOUN
fsr-3774	133	36	,	,	PUNCT
fsr-3774	133	37	34.96	34.96	NUM
fsr-3774	133	38	%	%	NOUN
fsr-3774	133	39	,	,	PUNCT
fsr-3774	133	40	45.60	45.60	NUM
fsr-3774	133	41	%	%	NOUN
fsr-3774	133	42	,	,	PUNCT
fsr-3774	133	43	and	and	CCONJ
fsr-3774	133	44	49.33	49.33	NUM
fsr-3774	133	45	%	%	NOUN
fsr-3774	133	46	of	of	ADP
fsr-3774	133	47	the	the	DET
fsr-3774	133	48	total	total	ADJ
fsr-3774	133	49	19	19	NUM
fsr-3774	133	50	-	-	PUNCT
fsr-3774	133	51	day	day	NOUN
fsr-3774	133	52	commission	commission	NOUN
fsr-3774	133	53	income	income	NOUN
fsr-3774	133	54	during	during	ADP
fsr-3774	133	55	the	the	DET
fsr-3774	133	56	last	last	ADJ
fsr-3774	133	57	2	2	NUM
fsr-3774	133	58	,	,	PUNCT
fsr-3774	133	59	3	3	NUM
fsr-3774	133	60	,	,	PUNCT
fsr-3774	133	61	4	4	NUM
fsr-3774	133	62	,	,	PUNCT
fsr-3774	133	63	and	and	CCONJ
fsr-3774	133	64	5	5	NUM
fsr-3774	133	65	days	day	NOUN
fsr-3774	133	66	,	,	PUNCT
fsr-3774	133	67	respectively	respectively	ADV
fsr-3774	133	68	,	,	PUNCT
fsr-3774	133	69	of	of	ADP
fsr-3774	133	70	the	the	DET
fsr-3774	133	71	production	production	NOUN
fsr-3774	133	72	month	month	NOUN
fsr-3774	133	73	.	.	PUNCT
fsr-3774	134	1	these	these	PRON
fsr-3774	134	2	are	be	AUX
fsr-3774	134	3	all	all	PRON
fsr-3774	134	4	significantly	significantly	ADV
fsr-3774	134	5	higher	high	ADJ
fsr-3774	134	6	than	than	ADP
fsr-3774	134	7	their	their	PRON
fsr-3774	134	8	expected	expect	VERB
fsr-3774	134	9	values	value	NOUN
fsr-3774	134	10	,	,	PUNCT
fsr-3774	134	11	with	with	ADP
fsr-3774	134	12	t	t	NOUN
fsr-3774	134	13	-	-	PUNCT
fsr-3774	134	14	values	value	NOUN
fsr-3774	134	15	of	of	ADP
fsr-3774	134	16	2.88	2.88	NUM
fsr-3774	134	17	,	,	PUNCT
fsr-3774	134	18	3.09	3.09	NUM
fsr-3774	134	19	,	,	PUNCT
fsr-3774	134	20	3.85	3.85	NUM
fsr-3774	134	21	,	,	PUNCT
fsr-3774	134	22	and	and	CCONJ
fsr-3774	134	23	4.69	4.69	NUM
fsr-3774	134	24	,	,	PUNCT
fsr-3774	134	25	respectively	respectively	ADV
fsr-3774	134	26	.	.	PUNCT
fsr-3774	135	1	further	far	ADV
fsr-3774	135	2	,	,	PUNCT
fsr-3774	135	3	most	most	ADJ
fsr-3774	135	4	of	of	ADP
fsr-3774	135	5	the	the	DET
fsr-3774	135	6	last	last	ADJ
fsr-3774	135	7	x	x	VERB
fsr-3774	135	8	trading	trading	NOUN
fsr-3774	135	9	day	day	NOUN
fsr-3774	135	10	averages	average	NOUN
fsr-3774	135	11	for	for	ADP
fsr-3774	135	12	brokers	broker	NOUN
fsr-3774	135	13	2	2	NUM
fsr-3774	135	14	through	through	ADP
fsr-3774	135	15	7	7	NUM
fsr-3774	135	16	are	be	AUX
fsr-3774	135	17	significantly	significantly	ADV
fsr-3774	135	18	higher	high	ADJ
fsr-3774	135	19	than	than	ADP
fsr-3774	135	20	the	the	DET
fsr-3774	135	21	expected	expect	VERB
fsr-3774	135	22	values	value	NOUN
fsr-3774	135	23	,	,	PUNCT
fsr-3774	135	24	with	with	ADP
fsr-3774	135	25	all	all	DET
fsr-3774	135	26	the	the	DET
fsr-3774	135	27	five	five	NUM
fsr-3774	135	28	-	-	PUNCT
fsr-3774	135	29	day	day	NOUN
fsr-3774	135	30	averages	average	NOUN
fsr-3774	135	31	being	be	AUX
fsr-3774	135	32	statistically	statistically	ADV
fsr-3774	135	33	significant	significant	ADJ
fsr-3774	135	34	.	.	PUNCT
fsr-3774	136	1	finally	finally	ADV
fsr-3774	136	2	,	,	PUNCT
fsr-3774	136	3	the	the	DET
fsr-3774	136	4	100	100	NUM
fsr-3774	136	5	broker	broker	NOUN
fsr-3774	136	6	averages	average	NOUN
fsr-3774	136	7	for	for	ADP
fsr-3774	136	8	the	the	DET
fsr-3774	136	9	last	last	ADJ
fsr-3774	136	10	2	2	NUM
fsr-3774	136	11	,	,	PUNCT
fsr-3774	136	12	3	3	NUM
fsr-3774	136	13	,	,	PUNCT
fsr-3774	136	14	4	4	NUM
fsr-3774	136	15	,	,	PUNCT
fsr-3774	136	16	and	and	CCONJ
fsr-3774	136	17	5	5	NUM
fsr-3774	136	18	trading	trading	NOUN
fsr-3774	136	19	days	day	NOUN
fsr-3774	136	20	(	(	PUNCT
fsr-3774	136	21	from	from	ADP
fsr-3774	136	22	the	the	DET
fsr-3774	136	23	final	final	ADJ
fsr-3774	136	24	column	column	NOUN
fsr-3774	136	25	)	)	PUNCT
fsr-3774	136	26	are	be	AUX
fsr-3774	136	27	11.88	11.88	NUM
fsr-3774	136	28	%	%	NOUN
fsr-3774	136	29	,	,	PUNCT
fsr-3774	136	30	17.54	17.54	NUM
fsr-3774	136	31	%	%	NOUN
fsr-3774	136	32	,	,	PUNCT
fsr-3774	136	33	23.06	23.06	NUM
fsr-3774	136	34	%	%	NOUN
fsr-3774	136	35	,	,	PUNCT
fsr-3774	136	36	and	and	CCONJ
fsr-3774	136	37	28.69	28.69	NUM
fsr-3774	136	38	%	%	NOUN
fsr-3774	136	39	,	,	PUNCT
fsr-3774	136	40	respectively	respectively	ADV
fsr-3774	136	41	,	,	PUNCT
fsr-3774	136	42	all	all	PRON
fsr-3774	136	43	of	of	ADP
fsr-3774	136	44	which	which	PRON
fsr-3774	136	45	are	be	AUX
fsr-3774	136	46	significantly	significantly	ADV
fsr-3774	136	47	higher	high	ADJ
fsr-3774	136	48	(	(	PUNCT
fsr-3774	136	49	at	at	ADP
fsr-3774	136	50	the	the	DET
fsr-3774	136	51	1	1	NUM
fsr-3774	136	52	%	%	NOUN
fsr-3774	136	53	level	level	NOUN
fsr-3774	136	54	)	)	PUNCT
fsr-3774	136	55	than	than	ADP
fsr-3774	136	56	the	the	DET
fsr-3774	136	57	expected	expect	VERB
fsr-3774	136	58	values	value	NOUN
fsr-3774	136	59	.	.	PUNCT
fsr-3774	137	1	table	table	NOUN
fsr-3774	137	2	2	2	NUM
fsr-3774	137	3	provides	provide	VERB
fsr-3774	137	4	summary	summary	NOUN
fsr-3774	137	5	data	datum	NOUN
fsr-3774	137	6	on	on	ADP
fsr-3774	137	7	all	all	DET
fsr-3774	137	8	100	100	NUM
fsr-3774	137	9	brokers	broker	NOUN
fsr-3774	137	10	in	in	ADP
fsr-3774	137	11	the	the	DET
fsr-3774	137	12	sample	sample	NOUN
fsr-3774	137	13	for	for	ADP
fsr-3774	137	14	the	the	DET
fsr-3774	137	15	last	last	ADJ
fsr-3774	137	16	5	5	NUM
fsr-3774	137	17	days	day	NOUN
fsr-3774	137	18	of	of	ADP
fsr-3774	137	19	the	the	DET
fsr-3774	137	20	production	production	NOUN
fsr-3774	137	21	month	month	NOUN
fsr-3774	137	22	.	.	PUNCT
fsr-3774	138	1	it	it	PRON
fsr-3774	138	2	shows	show	VERB
fsr-3774	138	3	that	that	SCONJ
fsr-3774	138	4	29	29	NUM
fsr-3774	138	5	of	of	ADP
fsr-3774	138	6	the	the	DET
fsr-3774	138	7	100	100	NUM
fsr-3774	138	8	brokers	broker	NOUN
fsr-3774	138	9	had	have	VERB
fsr-3774	138	10	a	a	DET
fsr-3774	138	11	“	"	PUNCT
fsr-3774	138	12	significantly	significantly	ADJ
fsr-3774	138	13	”	"	PUNCT
fsr-3774	138	14	higher	high	ADJ
fsr-3774	138	15	percentage	percentage	NOUN
fsr-3774	138	16	of	of	ADP
fsr-3774	138	17	commission	commission	NOUN
fsr-3774	138	18	earnings	earning	NOUN
fsr-3774	138	19	in	in	ADP
fsr-3774	138	20	the	the	DET
fsr-3774	138	21	last	last	ADJ
fsr-3774	138	22	week	week	NOUN
fsr-3774	138	23	compared	compare	VERB
fsr-3774	138	24	to	to	ADP
fsr-3774	138	25	the	the	DET
fsr-3774	138	26	26.32	26.32	NUM
fsr-3774	138	27	%	%	NOUN
fsr-3774	138	28	expected	expect	VERB
fsr-3774	138	29	value	value	NOUN
fsr-3774	138	30	.	.	PUNCT
fsr-3774	139	1	(	(	PUNCT
fsr-3774	139	2	seventy	seventy	NUM
fsr-3774	139	3	-	-	PUNCT
fsr-3774	139	4	three	three	NUM
fsr-3774	139	5	of	of	ADP
fsr-3774	139	6	the	the	DET
fsr-3774	139	7	100	100	NUM
fsr-3774	139	8	brokers	broker	NOUN
fsr-3774	139	9	had	have	VERB
fsr-3774	139	10	an	an	DET
fsr-3774	139	11	average	average	ADJ
fsr-3774	139	12	percentage	percentage	NOUN
fsr-3774	139	13	higher	high	ADJ
fsr-3774	139	14	than	than	ADP
fsr-3774	139	15	26.32	26.32	NUM
fsr-3774	139	16	%	%	NOUN
fsr-3774	139	17	,	,	PUNCT
fsr-3774	139	18	but	but	CCONJ
fsr-3774	139	19	only	only	ADV
fsr-3774	139	20	29	29	NUM
fsr-3774	139	21	were	be	AUX
fsr-3774	139	22	“	"	PUNCT
fsr-3774	139	23	significantly	significantly	ADV
fsr-3774	139	24	”	"	PUNCT
fsr-3774	139	25	higher	high	ADJ
fsr-3774	139	26	in	in	ADP
fsr-3774	139	27	a	a	DET
fsr-3774	139	28	statistical	statistical	ADJ
fsr-3774	139	29	sense	sense	NOUN
fsr-3774	139	30	.	.	PUNCT
fsr-3774	139	31	)	)	PUNCT
fsr-3774	140	1	the	the	DET
fsr-3774	140	2	evidence	evidence	NOUN
fsr-3774	140	3	from	from	ADP
fsr-3774	140	4	tables	table	NOUN
fsr-3774	140	5	1	1	NUM
fsr-3774	140	6	and	and	CCONJ
fsr-3774	140	7	2	2	NUM
fsr-3774	140	8	is	be	AUX
fsr-3774	140	9	strong	strong	ADJ
fsr-3774	140	10	enough	enough	ADV
fsr-3774	140	11	that	that	SCONJ
fsr-3774	140	12	we	we	PRON
fsr-3774	140	13	may	may	AUX
fsr-3774	140	14	conclude	conclude	VERB
fsr-3774	140	15	that	that	SCONJ
fsr-3774	140	16	many	many	ADJ
fsr-3774	140	17	brokers	broker	NOUN
fsr-3774	140	18	earned	earn	VERB
fsr-3774	140	19	significantly	significantly	ADV
fsr-3774	140	20	higher	high	ADJ
fsr-3774	140	21	proportions	proportion	NOUN
fsr-3774	140	22	of	of	ADP
fsr-3774	140	23	their	their	PRON
fsr-3774	140	24	commission	commission	NOUN
fsr-3774	140	25	income	income	NOUN
fsr-3774	140	26	in	in	ADP
fsr-3774	140	27	the	the	DET
fsr-3774	140	28	last	last	ADJ
fsr-3774	140	29	few	few	ADJ
fsr-3774	140	30	days	day	NOUN
fsr-3774	140	31	before	before	ADP
fsr-3774	140	32	the	the	DET
fsr-3774	140	33	end	end	NOUN
fsr-3774	140	34	of	of	ADP
fsr-3774	140	35	the	the	DET
fsr-3774	140	36	production	production	NOUN
fsr-3774	140	37	month	month	NOUN
fsr-3774	140	38	.	.	PUNCT
fsr-3774	141	1	further	far	ADV
fsr-3774	141	2	,	,	PUNCT
fsr-3774	141	3	the	the	DET
fsr-3774	141	4	brokers	broker	NOUN
fsr-3774	141	5	as	as	ADP
fsr-3774	141	6	a	a	DET
fsr-3774	141	7	group	group	NOUN
fsr-3774	141	8	earned	earn	VERB
fsr-3774	141	9	higher	high	ADJ
fsr-3774	141	10	than	than	SCONJ
fsr-3774	141	11	expected	expect	VERB
fsr-3774	141	12	commissions	commission	NOUN
fsr-3774	141	13	during	during	ADP
fsr-3774	141	14	this	this	DET
fsr-3774	141	15	period	period	NOUN
fsr-3774	141	16	.	.	PUNCT
fsr-3774	142	1	overall	overall	ADJ
fsr-3774	142	2	,	,	PUNCT
fsr-3774	142	3	more	more	ADJ
fsr-3774	142	4	than	than	ADP
fsr-3774	142	5	one	one	NUM
fsr-3774	142	6	-	-	PUNCT
fsr-3774	142	7	fourth	fourth	NOUN
fsr-3774	142	8	of	of	ADP
fsr-3774	142	9	the	the	DET
fsr-3774	142	10	brokers	broker	NOUN
fsr-3774	142	11	examined	examine	VERB
fsr-3774	142	12	show	show	VERB
fsr-3774	142	13	a	a	DET
fsr-3774	142	14	tendency	tendency	NOUN
fsr-3774	142	15	toward	toward	ADP
fsr-3774	142	16	a	a	DET
fsr-3774	142	17	higher	high	ADJ
fsr-3774	142	18	level	level	NOUN
fsr-3774	142	19	of	of	ADP
fsr-3774	142	20	trading	trading	NOUN
fsr-3774	142	21	in	in	ADP
fsr-3774	142	22	the	the	DET
fsr-3774	142	23	last	last	ADJ
fsr-3774	142	24	week	week	NOUN
fsr-3774	142	25	of	of	ADP
fsr-3774	142	26	the	the	DET
fsr-3774	142	27	production	production	NOUN
fsr-3774	142	28	month	month	NOUN
fsr-3774	142	29	.	.	PUNCT
fsr-3774	143	1	seven	seven	NUM
fsr-3774	143	2	of	of	ADP
fsr-3774	143	3	the	the	DET
fsr-3774	143	4	brokers	broker	NOUN
fsr-3774	143	5	(	(	PUNCT
fsr-3774	143	6	those	those	PRON
fsr-3774	143	7	shown	show	VERB
fsr-3774	143	8	in	in	ADP
fsr-3774	143	9	table	table	NOUN
fsr-3774	143	10	1	1	NUM
fsr-3774	143	11	)	)	PUNCT
fsr-3774	143	12	earned	earn	VERB
fsr-3774	143	13	more	more	ADJ
fsr-3774	143	14	than	than	ADP
fsr-3774	143	15	40	40	NUM
fsr-3774	143	16	%	%	NOUN
fsr-3774	143	17	of	of	ADP
fsr-3774	143	18	their	their	PRON
fsr-3774	143	19	commission	commission	NOUN
fsr-3774	143	20	income	income	NOUN
fsr-3774	143	21	,	,	PUNCT
fsr-3774	143	22	on	on	ADP
fsr-3774	143	23	average	average	ADJ
fsr-3774	143	24	,	,	PUNCT
fsr-3774	143	25	in	in	ADP
fsr-3774	143	26	this	this	DET
fsr-3774	143	27	last	last	ADJ
fsr-3774	143	28	week	week	NOUN
fsr-3774	143	29	.	.	PUNCT
fsr-3774	144	1	figure	figure	NOUN
fsr-3774	144	2	1	1	NUM
fsr-3774	144	3	shows	show	VERB
fsr-3774	144	4	graphically	graphically	ADV
fsr-3774	144	5	the	the	DET
fsr-3774	144	6	average	average	ADJ
fsr-3774	144	7	intramonth	intramonth	NOUN
fsr-3774	144	8	trading	trading	NOUN
fsr-3774	144	9	of	of	ADP
fsr-3774	144	10	brokers	broker	NOUN
fsr-3774	144	11	1	1	NUM
fsr-3774	144	12	through	through	ADP
fsr-3774	144	13	6	6	NUM
fsr-3774	144	14	from	from	ADP
fsr-3774	144	15	table	table	NOUN
fsr-3774	144	16	1	1	NUM
fsr-3774	144	17	,	,	PUNCT
fsr-3774	144	18	one	one	NUM
fsr-3774	144	19	broker	broker	NOUN
fsr-3774	144	20	earned	earn	VERB
fsr-3774	144	21	nearly	nearly	ADV
fsr-3774	144	22	50	50	NUM
fsr-3774	144	23	%	%	NOUN
fsr-3774	144	24	of	of	ADP
fsr-3774	144	25	total	total	ADJ
fsr-3774	144	26	monthly	monthly	ADJ
fsr-3774	144	27	commission	commission	NOUN
fsr-3774	144	28	income	income	NOUN
fsr-3774	144	29	in	in	ADP
fsr-3774	144	30	this	this	DET
fsr-3774	144	31	five	five	NUM
fsr-3774	144	32	-	-	PUNCT
fsr-3774	144	33	day	day	NOUN
fsr-3774	144	34	period	period	NOUN
fsr-3774	144	35	.	.	PUNCT
fsr-3774	145	1	the	the	DET
fsr-3774	145	2	data	datum	NOUN
fsr-3774	145	3	for	for	ADP
fsr-3774	145	4	the	the	DET
fsr-3774	145	5	average	average	NOUN
fsr-3774	145	6	of	of	ADP
fsr-3774	145	7	the	the	DET
fsr-3774	145	8	100	100	NUM
fsr-3774	145	9	brokers	broker	NOUN
fsr-3774	145	10	show	show	VERB
fsr-3774	145	11	that	that	SCONJ
fsr-3774	145	12	,	,	PUNCT
fsr-3774	145	13	on	on	ADP
fsr-3774	145	14	average	average	ADJ
fsr-3774	145	15	,	,	PUNCT
fsr-3774	145	16	the	the	DET
fsr-3774	145	17	brokers	broker	NOUN
fsr-3774	145	18	earned	earn	VERB
fsr-3774	145	19	nearly	nearly	ADV
fsr-3774	145	20	29	29	NUM
fsr-3774	145	21	%	%	NOUN
fsr-3774	145	22	of	of	ADP
fsr-3774	145	23	total	total	ADJ
fsr-3774	145	24	19	19	NUM
fsr-3774	145	25	-	-	PUNCT
fsr-3774	145	26	day	day	NOUN
fsr-3774	145	27	commis	commis	NOUN
fsr-3774	145	28	sions	sion	NOUN
fsr-3774	145	29	during	during	ADP
fsr-3774	145	30	the	the	DET
fsr-3774	145	31	last	last	ADJ
fsr-3774	145	32	five	five	NUM
fsr-3774	145	33	trading	trading	NOUN
fsr-3774	145	34	days	day	NOUN
fsr-3774	145	35	.	.	PUNCT
fsr-3774	146	1	88	88	NUM
fsr-3774	146	2	financial	financial	ADJ
fsr-3774	146	3	services	service	NOUN
fsr-3774	146	4	review	review	NOUN
fsr-3774	146	5	4(2	4(2	NUM
fsr-3774	146	6	)	)	PUNCT
fsr-3774	147	1	i995	i995	PROPN
fsr-3774	147	2	broker	broker	NOUN
fsr-3774	147	3	1	1	NUM
fsr-3774	147	4	daily	daily	ADJ
fsr-3774	147	5	commission	commission	NOUN
fsr-3774	147	6	earnings	earning	NOUN
fsr-3774	147	7	(	(	PUNCT
fsr-3774	147	8	versus	versus	ADP
fsr-3774	147	9	the	the	DET
fsr-3774	147	10	expected	expect	VERB
fsr-3774	147	11	5.26316	5.26316	NUM
fsr-3774	147	12	%	%	NOUN
fsr-3774	147	13	)	)	PUNCT
fsr-3774	147	14	%	%	NOUN
fsr-3774	147	15	20	20	NUM
fsr-3774	147	16	.c	.c	NOUN
fsr-3774	147	17	_	_	PUNCT
fsr-3774	148	1	e	e	X
fsr-3774	148	2	i	i	PRON
fsr-3774	148	3	w	w	VERB
fsr-3774	148	4	”	"	PUNCT
fsr-3774	148	5	15.______---_-----____-____----	15.______---_-----____-____----	NUM
fsr-3774	148	6	0	0	NUM
fsr-3774	148	7	-	-	SYM
fsr-3774	148	8	n	n	PRON
fsr-3774	148	9	*	*	PUNCT
fsr-3774	148	10	*	*	PUNCT
fsr-3774	148	11	4	4	NUM
fsr-3774	148	12	’	'	PUNCT
fsr-3774	148	13	j	j	NOUN
fsr-3774	148	14	’	'	PUNCT
fsr-3774	149	1	*	*	PUNCT
fsr-3774	149	2	”	"	PUNCT
fsr-3774	149	3	i	i	PRON
fsr-3774	149	4	:	:	PUNCT
fsr-3774	149	5	“	"	PUNCT
fsr-3774	149	6	’	'	PUNCT
fsr-3774	149	7	:	:	PUNCT
fsr-3774	149	8	q	q	PROPN
fsr-3774	149	9	19	19	NUM
fsr-3774	149	10	'	'	NOUN
fsr-3774	149	11	if	if	SCONJ
fsr-3774	149	12	'	'	PUNCT
fsr-3774	149	13	15	15	NUM
fsr-3774	149	14	'	'	NUM
fsr-3774	149	15	13	13	NUM
fsr-3774	149	16	'	'	NOUN
fsr-3774	149	17	i	i	PRON
fsr-3774	149	18	?	?	PUNCT
fsr-3774	149	19	'	'	PUNCT
fsr-3774	150	1	cj	cj	NOUN
fsr-3774	150	2	1	1	NUM
fsr-3774	150	3	ti	ti	NOUN
fsr-3774	150	4	a	a	DET
fsr-3774	150	5	3	3	NUM
fsr-3774	150	6	trading	trading	NOUN
fsr-3774	150	7	days	day	NOUN
fsr-3774	150	8	(	(	PUNCT
fsr-3774	150	9	1	1	NUM
fsr-3774	150	10	=	=	NUM
fsr-3774	150	11	last	last	ADJ
fsr-3774	150	12	day	day	NOUN
fsr-3774	150	13	of	of	ADP
fsr-3774	150	14	month	month	NOUN
fsr-3774	150	15	)	)	PUNCT
fsr-3774	150	16	broker	broker	NOUN
fsr-3774	150	17	2	2	NUM
fsr-3774	150	18	daily	daily	ADJ
fsr-3774	150	19	commission	commission	NOUN
fsr-3774	150	20	earnings	earning	NOUN
fsr-3774	150	21	(	(	PUNCT
fsr-3774	150	22	versusihe	versusihe	NOUN
fsr-3774	150	23	expected	expect	VERB
fsr-3774	150	24	5.26316	5.26316	NUM
fsr-3774	150	25	%	%	NOUN
fsr-3774	150	26	)	)	PUNCT
fsr-3774	150	27	!	!	PUNCT
fsr-3774	151	1	j	j	PROPN
fsr-3774	151	2	&	&	CCONJ
fsr-3774	151	3	14	14	NUM
fsr-3774	151	4	7	7	NUM
fsr-3774	151	5	j	j	PROPN
fsr-3774	151	6	12	12	NUM
fsr-3774	151	7	.____________________-_-	.____________________-_-	NOUN
fsr-3774	151	8	_	_	PRON
fsr-3774	151	9	;	;	PUNCT
fsr-3774	151	10	io-----___---------__-_-	io-----___---------__-_-	NOUN
fsr-3774	151	11	_	_	NOUN
fsr-3774	151	12	_	_	PUNCT
fsr-3774	151	13	‘	'	PUNCT
fsr-3774	151	14	z	z	NOUN
fsr-3774	151	15	,	,	PUNCT
fsr-3774	151	16	g	g	NOUN
fsr-3774	151	17	a._-_-	a._-_-	NOUN
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fsr-3774	161	1	_	_	PUNCT
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fsr-3774	163	1	_	_	PUNCT
fsr-3774	164	1	_	_	PUNCT
fsr-3774	165	1	_	_	PUNCT
fsr-3774	166	1	_	_	PUNCT
fsr-3774	166	2	--	--	PUNCT
fsr-3774	167	1	i	i	PRON
fsr-3774	167	2	_	_	PUNCT
fsr-3774	168	1	_	_	PUNCT
fsr-3774	168	2	--___________-_--_--	--___________-_--_--	NUM
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fsr-3774	168	4	4	4	X
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fsr-3774	169	1	_	_	PUNCT
fsr-3774	169	2	_	_	PUNCT
fsr-3774	170	1	6-;$px	6-;$px	NUM
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fsr-3774	170	3	.	.	PUNCT
fsr-3774	171	1	_	_	PRON
fsr-3774	171	2	.	.	PUNCT
fsr-3774	172	1	-	-	INTJ
fsr-3774	172	2	.	.	PUNCT
fsr-3774	172	3	..	..	PUNCT
fsr-3774	173	1	i	i	PRON
fsr-3774	173	2	_	_	PUNCT
fsr-3774	174	1	_	_	PUNCT
fsr-3774	175	1	_	_	PUNCT
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fsr-3774	177	1	i	i	PRON
fsr-3774	177	2	_	_	PUNCT
fsr-3774	178	1	_	_	PUNCT
fsr-3774	179	1	-1	-1	ADJ
fsr-3774	179	2	-	-	SYM
fsr-3774	179	3	1	1	NUM
fsr-3774	179	4	.	.	PUNCT
fsr-3774	180	1	*	*	PUNCT
fsr-3774	180	2	.	.	PUNCT
fsr-3774	181	1	--_---	--_---	NOUN
fsr-3774	181	2	5	5	NUM
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fsr-3774	181	4	.-__--	.-__--	PUNCT
fsr-3774	182	1	_	_	PUNCT
fsr-3774	182	2	_	_	PUNCT
fsr-3774	183	1	_	_	PUNCT
fsr-3774	184	1	_	_	PUNCT
fsr-3774	184	2	----_---	----_---	NOUN
fsr-3774	184	3	_	_	PRON
fsr-3774	184	4	---_--	---_--	PUNCT
fsr-3774	184	5	2	2	NUM
fsr-3774	184	6	0	0	NUM
fsr-3774	184	7	iq	iq	NOUN
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fsr-3774	184	9	15	15	NUM
fsr-3774	184	10	15	15	NUM
fsr-3774	184	11	11	11	NUM
fsr-3774	184	12	trading	trading	NOUN
fsr-3774	184	13	days	day	NOUN
fsr-3774	184	14	(	(	PUNCT
fsr-3774	184	15	1	1	NUM
fsr-3774	184	16	=	=	NUM
fsr-3774	184	17	last	last	ADJ
fsr-3774	184	18	day	day	NOUN
fsr-3774	184	19	of	of	ADP
fsr-3774	184	20	month	month	NOUN
fsr-3774	184	21	)	)	PUNCT
fsr-3774	184	22	broker	broker	NOUN
fsr-3774	184	23	3	3	NUM
fsr-3774	184	24	daily	daily	ADJ
fsr-3774	184	25	commission	commission	NOUN
fsr-3774	184	26	earnings	earning	NOUN
fsr-3774	184	27	(	(	PUNCT
fsr-3774	184	28	versus	versus	ADP
fsr-3774	184	29	the	the	DET
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fsr-3774	184	31	5.26316	5.26316	NUM
fsr-3774	184	32	%	%	NOUN
fsr-3774	184	33	)	)	PUNCT
fsr-3774	185	1	g	g	ADP
fsr-3774	185	2	18	18	NUM
fsr-3774	185	3	'	'	NUM
fsr-3774	185	4	;	;	PUNCT
fsr-3774	185	5	16	16	NUM
fsr-3774	185	6	_	_	PUNCT
fsr-3774	186	1	_	_	PUNCT
fsr-3774	187	1	_	_	PUNCT
fsr-3774	188	1	_	_	PUNCT
fsr-3774	189	1	_	_	PUNCT
fsr-3774	190	1	_	_	PUNCT
fsr-3774	191	1	----_---_____--__----~	----_---_____--__----~	NOUN
fsr-3774	191	2	z	z	NOUN
fsr-3774	191	3	14	14	NUM
fsr-3774	191	4	.e	.e	NOUN
fsr-3774	191	5	12	12	NUM
fsr-3774	191	6	.e	.e	NOUN
fsr-3774	191	7	10	10	NUM
fsr-3774	191	8	e	e	NOUN
fsr-3774	191	9	0	0	NUM
fsr-3774	191	10	53	53	NUM
fsr-3774	191	11	g	g	NOUN
fsr-3774	191	12	:	:	PUNCT
fsr-3774	191	13	$	$	SYM
fsr-3774	191	14	0	0	NUM
fsr-3774	191	15	t	t	NOUN
fsr-3774	191	16	_	_	PUNCT
fsr-3774	191	17	-____-___----_____-------	-____-___----_____-------	PUNCT
fsr-3774	191	18	/	/	SYM
fsr-3774	192	1	+	+	NOUN
fsr-3774	192	2	_	_	NOUN
fsr-3774	192	3	----_----____-----__--	----_----____-----__--	NOUN
fsr-3774	193	1	_	_	PUNCT
fsr-3774	194	1	_	_	PUNCT
fsr-3774	195	1	_	_	PUNCT
fsr-3774	196	1	_	_	PUNCT
fsr-3774	196	2	,	,	PUNCT
fsr-3774	196	3	_	_	PUNCT
fsr-3774	197	1	t	t	NOUN
fsr-3774	198	1	_	_	PUNCT
fsr-3774	199	1	_	_	PUNCT
fsr-3774	200	1	-__-------------_----	-__-------------_----	NOUN
fsr-3774	201	1	_	_	PUNCT
fsr-3774	201	2	_	_	PUNCT
fsr-3774	202	1	_	_	PUNCT
fsr-3774	203	1	n	n	INTJ
fsr-3774	203	2	i	i	PRON
fsr-3774	204	1	19	19	NUM
fsr-3774	204	2	'	'	NUM
fsr-3774	204	3	17	17	NUM
fsr-3774	204	4	'	'	NUM
fsr-3774	204	5	15	15	NUM
fsr-3774	204	6	'	'	NUM
fsr-3774	204	7	13	13	NUM
fsr-3774	204	8	11	11	NUM
fsr-3774	204	9	g	g	NOUN
fsr-3774	204	10	7	7	NUM
fsr-3774	204	11	5	5	NUM
fsr-3774	204	12	3	3	NUM
fsr-3774	204	13	i	i	PRON
fsr-3774	204	14	trading	trading	NOUN
fsr-3774	204	15	days	day	NOUN
fsr-3774	204	16	(	(	PUNCT
fsr-3774	204	17	1	1	NUM
fsr-3774	204	18	=	=	NUM
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fsr-3774	204	20	day	day	NOUN
fsr-3774	204	21	of	of	ADP
fsr-3774	204	22	month	month	NOUN
fsr-3774	204	23	)	)	PUNCT
fsr-3774	204	24	figure	figure	NOUN
fsr-3774	204	25	i.	i.	PROPN
fsr-3774	204	26	daily	daily	PROPN
fsr-3774	204	27	commission	commission	PROPN
fsr-3774	204	28	earnings	earning	NOUN
fsr-3774	204	29	of	of	ADP
fsr-3774	204	30	brokers	broker	NOUN
fsr-3774	204	31	1	1	NUM
fsr-3774	204	32	through	through	ADP
fsr-3774	204	33	6	6	NUM
fsr-3774	204	34	commission	commission	NOUN
fsr-3774	204	35	-	-	PUNCT
fsr-3774	204	36	motivated	motivate	VERB
fsr-3774	204	37	trading	trading	NOUN
fsr-3774	204	38	patterns	pattern	NOUN
fsr-3774	204	39	of	of	ADP
fsr-3774	204	40	brokers	broker	NOUN
fsr-3774	204	41	89	89	NUM
fsr-3774	204	42	broker	broker	PROPN
fsr-3774	204	43	4	4	NUM
fsr-3774	204	44	daily	daily	ADJ
fsr-3774	204	45	commission	commission	NOUN
fsr-3774	204	46	earnings	earning	NOUN
fsr-3774	204	47	(	(	PUNCT
fsr-3774	204	48	versus	versus	ADP
fsr-3774	204	49	the	the	DET
fsr-3774	204	50	expected	expect	VERB
fsr-3774	204	51	5.26316	5.26316	NUM
fsr-3774	204	52	%	%	NOUN
fsr-3774	204	53	)	)	PUNCT
fsr-3774	204	54	19	19	NUM
fsr-3774	204	55	'	'	NOUN
fsr-3774	204	56	if	if	SCONJ
fsr-3774	204	57	'	'	PUNCT
fsr-3774	204	58	15	15	NUM
fsr-3774	204	59	'	'	NUM
fsr-3774	204	60	13	13	NUM
fsr-3774	204	61	'	'	NOUN
fsr-3774	204	62	l	l	NOUN
fsr-3774	204	63	?	?	NOUN
fsr-3774	204	64	3	3	NUM
fsr-3774	204	65	trading	trading	NOUN
fsr-3774	204	66	days	day	NOUN
fsr-3774	204	67	(	(	PUNCT
fsr-3774	204	68	1	1	NUM
fsr-3774	204	69	q	q	NOUN
fsr-3774	204	70	last	last	ADJ
fsr-3774	204	71	day	day	NOUN
fsr-3774	204	72	of	of	ADP
fsr-3774	204	73	month	month	NOUN
fsr-3774	204	74	)	)	PUNCT
fsr-3774	204	75	broker	broker	NOUN
fsr-3774	204	76	5	5	NUM
fsr-3774	204	77	daily	daily	ADJ
fsr-3774	204	78	commission	commission	NOUN
fsr-3774	204	79	earnings	earning	NOUN
fsr-3774	204	80	(	(	PUNCT
fsr-3774	204	81	versus	versus	ADP
fsr-3774	204	82	the	the	DET
fsr-3774	204	83	expected	expect	VERB
fsr-3774	204	84	5.26316	5.26316	NUM
fsr-3774	204	85	%	%	NOUN
fsr-3774	204	86	)	)	PUNCT
fsr-3774	204	87	%	%	NOUN
fsr-3774	205	1	20	20	NUM
fsr-3774	205	2	.r	.r	ADJ
fsr-3774	205	3	trading	trading	NOUN
fsr-3774	205	4	days	day	NOUN
fsr-3774	205	5	(	(	PUNCT
fsr-3774	205	6	1	1	NUM
fsr-3774	205	7	=	=	NUM
fsr-3774	205	8	last	last	ADJ
fsr-3774	205	9	day	day	NOUN
fsr-3774	205	10	of	of	ADP
fsr-3774	205	11	month	month	NOUN
fsr-3774	205	12	)	)	PUNCT
fsr-3774	205	13	broker	broker	NOUN
fsr-3774	205	14	6	6	NUM
fsr-3774	205	15	daily	daily	ADJ
fsr-3774	205	16	commission	commission	NOUN
fsr-3774	205	17	earnings	earning	NOUN
fsr-3774	205	18	(	(	PUNCT
fsr-3774	205	19	versus	versus	ADP
fsr-3774	205	20	the	the	DET
fsr-3774	205	21	expected	expect	VERB
fsr-3774	205	22	5.26316	5.26316	NUM
fsr-3774	205	23	%	%	NOUN
fsr-3774	205	24	)	)	PUNCT
fsr-3774	205	25	u	u	NOUN
fsr-3774	205	26	)	)	PUNCT
fsr-3774	205	27	12	12	NUM
fsr-3774	205	28	trading	trading	NOUN
fsr-3774	205	29	days	day	NOUN
fsr-3774	205	30	(	(	PUNCT
fsr-3774	205	31	1	1	NUM
fsr-3774	205	32	=	=	NUM
fsr-3774	205	33	last	last	ADJ
fsr-3774	205	34	day	day	NOUN
fsr-3774	205	35	of	of	ADP
fsr-3774	205	36	month	month	NOUN
fsr-3774	205	37	)	)	PUNCT
fsr-3774	205	38	figure	figure	NOUN
fsr-3774	205	39	1	1	NUM
fsr-3774	205	40	.	.	PUNCT
fsr-3774	206	1	(	(	PUNCT
fsr-3774	206	2	continued	continue	VERB
fsr-3774	206	3	)	)	PUNCT
fsr-3774	206	4	90	90	NUM
fsr-3774	206	5	financialservicesreview	financialservicesreview	NOUN
fsr-3774	206	6	4(2	4(2	NUM
fsr-3774	206	7	)	)	PUNCT
fsr-3774	206	8	1995	1995	NUM
fsr-3774	206	9	v.	v.	ADP
fsr-3774	206	10	nyse	nyse	PROPN
fsr-3774	206	11	total	total	PROPN
fsr-3774	206	12	volume	volume	NOUN
fsr-3774	206	13	and	and	CCONJ
fsr-3774	206	14	nyse	nyse	PROPN
fsr-3774	206	15	odd	odd	ADJ
fsr-3774	206	16	-	-	PUNCT
fsr-3774	206	17	lot	lot	NOUN
fsr-3774	206	18	trading	trading	NOUN
fsr-3774	206	19	volume	volume	NOUN
fsr-3774	206	20	we	we	PRON
fsr-3774	206	21	now	now	ADV
fsr-3774	206	22	turn	turn	VERB
fsr-3774	206	23	to	to	ADP
fsr-3774	206	24	the	the	DET
fsr-3774	206	25	general	general	ADJ
fsr-3774	206	26	stock	stock	NOUN
fsr-3774	206	27	market	market	NOUN
fsr-3774	206	28	to	to	PART
fsr-3774	206	29	see	see	VERB
fsr-3774	206	30	if	if	SCONJ
fsr-3774	206	31	there	there	PRON
fsr-3774	206	32	are	be	VERB
fsr-3774	206	33	any	any	DET
fsr-3774	206	34	market	market	NOUN
fsr-3774	206	35	-	-	PUNCT
fsr-3774	206	36	wide	wide	ADJ
fsr-3774	206	37	patterns	pattern	NOUN
fsr-3774	206	38	of	of	ADP
fsr-3774	206	39	intramonth	intramonth	NOUN
fsr-3774	206	40	trading	trading	NOUN
fsr-3774	206	41	and	and	CCONJ
fsr-3774	206	42	,	,	PUNCT
fsr-3774	206	43	in	in	ADP
fsr-3774	206	44	particular	particular	ADJ
fsr-3774	206	45	,	,	PUNCT
fsr-3774	206	46	to	to	PART
fsr-3774	206	47	see	see	VERB
fsr-3774	206	48	if	if	SCONJ
fsr-3774	206	49	trading	trading	NOUN
fsr-3774	206	50	increases	increase	NOUN
fsr-3774	206	51	toward	toward	ADP
fsr-3774	206	52	the	the	DET
fsr-3774	206	53	end	end	NOUN
fsr-3774	206	54	of	of	ADP
fsr-3774	206	55	the	the	DET
fsr-3774	206	56	production	production	NOUN
fsr-3774	206	57	month	month	NOUN
fsr-3774	206	58	.	.	PUNCT
fsr-3774	207	1	both	both	PRON
fsr-3774	207	2	nyse	nyse	PROPN
fsr-3774	207	3	trading	trading	NOUN
fsr-3774	207	4	volume	volume	NOUN
fsr-3774	207	5	and	and	CCONJ
fsr-3774	207	6	odd	odd	ADJ
fsr-3774	207	7	-	-	PUNCT
fsr-3774	207	8	lot	lot	NOUN
fsr-3774	207	9	trading	trading	NOUN
fsr-3774	207	10	volume	volume	NOUN
fsr-3774	207	11	are	be	AUX
fsr-3774	207	12	examined	examine	VERB
fsr-3774	207	13	for	for	ADP
fsr-3774	207	14	nonuniform	nonuniform	ADJ
fsr-3774	207	15	tendencies	tendency	NOUN
fsr-3774	207	16	.	.	PUNCT
fsr-3774	208	1	in	in	ADP
fsr-3774	208	2	the	the	DET
fsr-3774	208	3	market	market	NOUN
fsr-3774	208	4	in	in	ADP
fsr-3774	208	5	general	general	ADJ
fsr-3774	208	6	,	,	PUNCT
fsr-3774	208	7	we	we	PRON
fsr-3774	208	8	must	must	AUX
fsr-3774	208	9	examine	examine	VERB
fsr-3774	208	10	trading	trading	NOUN
fsr-3774	208	11	volume	volume	NOUN
fsr-3774	208	12	rather	rather	ADV
fsr-3774	208	13	than	than	ADP
fsr-3774	208	14	commission	commission	NOUN
fsr-3774	208	15	income	income	NOUN
fsr-3774	208	16	as	as	SCONJ
fsr-3774	208	17	was	be	AUX
fsr-3774	208	18	done	do	VERB
fsr-3774	208	19	for	for	ADP
fsr-3774	208	20	individual	individual	ADJ
fsr-3774	208	21	brokers	broker	NOUN
fsr-3774	208	22	-	-	PUNCT
fsr-3774	208	23	since	since	SCONJ
fsr-3774	208	24	commission	commission	NOUN
fsr-3774	208	25	data	datum	NOUN
fsr-3774	208	26	is	be	AUX
fsr-3774	208	27	not	not	PART
fsr-3774	208	28	available	available	ADJ
fsr-3774	208	29	for	for	ADP
fsr-3774	208	30	the	the	DET
fsr-3774	208	31	market	market	NOUN
fsr-3774	208	32	.	.	PUNCT
fsr-3774	209	1	total	total	ADJ
fsr-3774	209	2	nyse	nyse	PROPN
fsr-3774	209	3	trading	trading	NOUN
fsr-3774	209	4	volume	volume	NOUN
fsr-3774	209	5	is	be	AUX
fsr-3774	209	6	examined	examine	VERB
fsr-3774	209	7	first	first	ADV
fsr-3774	209	8	.	.	PUNCT
fsr-3774	210	1	our	our	PRON
fsr-3774	210	2	focus	focus	NOUN
fsr-3774	210	3	is	be	AUX
fsr-3774	210	4	on	on	ADP
fsr-3774	210	5	the	the	DET
fsr-3774	210	6	intramonth	intramonth	NOUN
fsr-3774	210	7	pattern	pattern	NOUN
fsr-3774	210	8	of	of	ADP
fsr-3774	210	9	this	this	DET
fsr-3774	210	10	trading	trading	NOUN
fsr-3774	210	11	.	.	PUNCT
fsr-3774	211	1	second	second	ADJ
fsr-3774	211	2	,	,	PUNCT
fsr-3774	211	3	intramonth	intramonth	NOUN
fsr-3774	211	4	trading	trading	NOUN
fsr-3774	211	5	by	by	ADP
fsr-3774	211	6	individuals	individual	NOUN
fsr-3774	211	7	is	be	AUX
fsr-3774	211	8	examined	examine	VERB
fsr-3774	211	9	by	by	ADP
fsr-3774	211	10	looking	look	VERB
fsr-3774	211	11	at	at	ADP
fsr-3774	211	12	odd	odd	ADJ
fsr-3774	211	13	-	-	PUNCT
fsr-3774	211	14	lot	lot	NOUN
fsr-3774	211	15	trading	trading	NOUN
fsr-3774	211	16	-	-	PUNCT
fsr-3774	211	17	aproxy	aproxy	NOUN
fsr-3774	211	18	for	for	ADP
fsr-3774	211	19	individual	individual	ADJ
fsr-3774	211	20	trading	trading	NOUN
fsr-3774	211	21	.	.	PUNCT
fsr-3774	212	1	lakonishok	lakonishok	NOUN
fsr-3774	212	2	and	and	CCONJ
fsr-3774	212	3	maberly	maberly	ADV
fsr-3774	212	4	(	(	PUNCT
fsr-3774	212	5	1990	1990	NUM
fsr-3774	212	6	)	)	PUNCT
fsr-3774	212	7	suggest	suggest	VERB
fsr-3774	212	8	that	that	SCONJ
fsr-3774	212	9	odd	odd	ADJ
fsr-3774	212	10	-	-	PUNCT
fsr-3774	212	11	lot	lot	NOUN
fsr-3774	212	12	trading	trading	NOUN
fsr-3774	212	13	may	may	AUX
fsr-3774	212	14	serve	serve	VERB
fsr-3774	212	15	as	as	ADP
fsr-3774	212	16	a	a	DET
fsr-3774	212	17	proxy	proxy	NOUN
fsr-3774	212	18	for	for	ADP
fsr-3774	212	19	individual	individual	ADJ
fsr-3774	212	20	trading	trading	NOUN
fsr-3774	212	21	since	since	SCONJ
fsr-3774	212	22	few	few	ADJ
fsr-3774	212	23	institutions	institution	NOUN
fsr-3774	212	24	engage	engage	VERB
fsr-3774	212	25	in	in	ADP
fsr-3774	212	26	odd	odd	ADJ
fsr-3774	212	27	-	-	PUNCT
fsr-3774	212	28	lot	lot	NOUN
fsr-3774	212	29	trading	trading	NOUN
fsr-3774	212	30	.	.	PUNCT
fsr-3774	213	1	odd	odd	ADJ
fsr-3774	213	2	-	-	PUNCT
fsr-3774	213	3	lot	lot	NOUN
fsr-3774	213	4	“	"	PUNCT
fsr-3774	213	5	purchases	purchase	NOUN
fsr-3774	213	6	”	"	PUNCT
fsr-3774	213	7	should	should	AUX
fsr-3774	213	8	be	be	AUX
fsr-3774	213	9	particularly	particularly	ADV
fsr-3774	213	10	instructive	instructive	ADJ
fsr-3774	213	11	because	because	SCONJ
fsr-3774	213	12	institutions	institution	NOUN
fsr-3774	213	13	generally	generally	ADV
fsr-3774	213	14	do	do	AUX
fsr-3774	213	15	not	not	PART
fsr-3774	213	16	purchase	purchase	VERB
fsr-3774	213	17	odd	odd	ADJ
fsr-3774	213	18	lots	lot	NOUN
fsr-3774	213	19	.	.	PUNCT
fsr-3774	214	1	however	however	ADV
fsr-3774	214	2	,	,	PUNCT
fsr-3774	214	3	odd	odd	ADJ
fsr-3774	214	4	-	-	PUNCT
fsr-3774	214	5	lot	lot	NOUN
fsr-3774	214	6	“	"	PUNCT
fsr-3774	214	7	sales	sale	NOUN
fsr-3774	214	8	”	"	PUNCT
fsr-3774	214	9	may	may	AUX
fsr-3774	214	10	not	not	PART
fsr-3774	214	11	be	be	AUX
fsr-3774	214	12	as	as	ADV
fsr-3774	214	13	good	good	ADJ
fsr-3774	214	14	a	a	DET
fsr-3774	214	15	guide	guide	NOUN
fsr-3774	214	16	to	to	ADP
fsr-3774	214	17	individual	individual	ADJ
fsr-3774	214	18	trading	trading	NOUN
fsr-3774	214	19	activity	activity	NOUN
fsr-3774	214	20	because	because	SCONJ
fsr-3774	214	21	of	of	ADP
fsr-3774	214	22	a	a	DET
fsr-3774	214	23	significant	significant	ADJ
fsr-3774	214	24	volume	volume	NOUN
fsr-3774	214	25	of	of	ADP
fsr-3774	214	26	institutional	institutional	ADJ
fsr-3774	214	27	sales	sale	NOUN
fsr-3774	214	28	.	.	PUNCT
fsr-3774	215	1	though	though	SCONJ
fsr-3774	215	2	institutions	institution	NOUN
fsr-3774	215	3	do	do	AUX
fsr-3774	215	4	not	not	PART
fsr-3774	215	5	purchase	purchase	VERB
fsr-3774	215	6	odd	odd	ADJ
fsr-3774	215	7	lots	lot	NOUN
fsr-3774	215	8	,	,	PUNCT
fsr-3774	215	9	they	they	PRON
fsr-3774	215	10	must	must	AUX
fsr-3774	215	11	sell	sell	VERB
fsr-3774	215	12	odd	odd	ADJ
fsr-3774	215	13	lots	lot	NOUN
fsr-3774	215	14	that	that	SCONJ
fsr-3774	215	15	they	they	PRON
fsr-3774	215	16	acquire	acquire	VERB
fsr-3774	215	17	through	through	ADP
fsr-3774	215	18	stock	stock	NOUN
fsr-3774	215	19	splits	split	NOUN
fsr-3774	215	20	,	,	PUNCT
fsr-3774	215	21	stock	stock	NOUN
fsr-3774	215	22	dividends	dividend	NOUN
fsr-3774	215	23	,	,	PUNCT
fsr-3774	215	24	and	and	CCONJ
fsr-3774	215	25	conversions	conversion	NOUN
fsr-3774	215	26	of	of	ADP
fsr-3774	215	27	convertible	convertible	ADJ
fsr-3774	215	28	securities	security	NOUN
fsr-3774	215	29	.	.	PUNCT
fsr-3774	216	1	the	the	DET
fsr-3774	216	2	market	market	NOUN
fsr-3774	216	3	-	-	PUNCT
fsr-3774	216	4	wide	wide	ADJ
fsr-3774	216	5	data	datum	NOUN
fsr-3774	216	6	are	be	AUX
fsr-3774	216	7	presented	present	VERB
fsr-3774	216	8	in	in	ADP
fsr-3774	216	9	table	table	NOUN
fsr-3774	216	10	3	3	NUM
fsr-3774	216	11	.	.	PUNCT
fsr-3774	217	1	the	the	DET
fsr-3774	217	2	nyse	nyse	PROPN
fsr-3774	217	3	volume	volume	PROPN
fsr-3774	217	4	data	datum	NOUN
fsr-3774	217	5	suggest	suggest	VERB
fsr-3774	217	6	that	that	SCONJ
fsr-3774	217	7	the	the	DET
fsr-3774	217	8	volume	volume	NOUN
fsr-3774	217	9	of	of	ADP
fsr-3774	217	10	trading	trading	NOUN
fsr-3774	217	11	is	be	AUX
fsr-3774	217	12	approximately	approximately	ADV
fsr-3774	217	13	even	even	ADV
fsr-3774	217	14	across	across	ADP
fsr-3774	217	15	the	the	DET
fsr-3774	217	16	month	month	NOUN
fsr-3774	217	17	,	,	PUNCT
fsr-3774	217	18	but	but	CCONJ
fsr-3774	217	19	there	there	PRON
fsr-3774	217	20	does	do	AUX
fsr-3774	217	21	appear	appear	VERB
fsr-3774	217	22	to	to	PART
fsr-3774	217	23	be	be	AUX
fsr-3774	217	24	a	a	DET
fsr-3774	217	25	tendency	tendency	NOUN
fsr-3774	217	26	for	for	SCONJ
fsr-3774	217	27	volume	volume	NOUN
fsr-3774	217	28	to	to	PART
fsr-3774	217	29	be	be	AUX
fsr-3774	217	30	higher	high	ADJ
fsr-3774	217	31	near	near	ADP
fsr-3774	217	32	the	the	DET
fsr-3774	217	33	end	end	NOUN
fsr-3774	217	34	of	of	ADP
fsr-3774	217	35	the	the	DET
fsr-3774	217	36	commission	commission	NOUN
fsr-3774	217	37	month	month	NOUN
fsr-3774	217	38	.	.	PUNCT
fsr-3774	218	1	statistical	statistical	ADJ
fsr-3774	218	2	tests	test	NOUN
fsr-3774	218	3	suggest	suggest	VERB
fsr-3774	218	4	that	that	SCONJ
fsr-3774	218	5	approximately	approximately	ADV
fsr-3774	218	6	1/19th	1/19th	NUM
fsr-3774	218	7	of	of	ADP
fsr-3774	218	8	the	the	DET
fsr-3774	218	9	trading	trading	NOUN
fsr-3774	218	10	volume	volume	NOUN
fsr-3774	218	11	occurs	occur	VERB
fsr-3774	218	12	on	on	ADP
fsr-3774	218	13	each	each	PRON
fsr-3774	218	14	of	of	ADP
fsr-3774	218	15	the	the	DET
fsr-3774	218	16	19	19	NUM
fsr-3774	218	17	trading	trading	NOUN
fsr-3774	218	18	days	day	NOUN
fsr-3774	218	19	in	in	ADP
fsr-3774	218	20	the	the	DET
fsr-3774	218	21	commission	commission	NOUN
fsr-3774	218	22	month	month	NOUN
fsr-3774	218	23	.	.	PUNCT
fsr-3774	219	1	for	for	ADP
fsr-3774	219	2	example	example	NOUN
fsr-3774	219	3	,	,	PUNCT
fsr-3774	219	4	panel	panel	NOUN
fsr-3774	219	5	a	a	DET
fsr-3774	219	6	shows	show	NOUN
fsr-3774	219	7	that	that	SCONJ
fsr-3774	219	8	only	only	ADV
fsr-3774	219	9	the	the	DET
fsr-3774	219	10	day	day	NOUN
fsr-3774	219	11	3	3	NUM
fsr-3774	219	12	proportion	proportion	NOUN
fsr-3774	219	13	of	of	ADP
fsr-3774	219	14	5.66	5.66	NUM
fsr-3774	219	15	%	%	NOUN
fsr-3774	219	16	is	be	AUX
fsr-3774	219	17	significantly	significantly	ADV
fsr-3774	219	18	greater	great	ADJ
fsr-3774	219	19	than	than	ADP
fsr-3774	219	20	the	the	DET
fsr-3774	219	21	expected	expected	ADJ
fsr-3774	219	22	5.26	5.26	NUM
fsr-3774	219	23	%	%	NOUN
fsr-3774	219	24	(	(	PUNCT
fsr-3774	219	25	or	or	CCONJ
fsr-3774	219	26	1/19th	1/19th	NUM
fsr-3774	219	27	)	)	PUNCT
fsr-3774	219	28	at	at	ADP
fsr-3774	219	29	the	the	DET
fsr-3774	219	30	1	1	NUM
fsr-3774	219	31	%	%	NOUN
fsr-3774	219	32	level	level	NOUN
fsr-3774	219	33	of	of	ADP
fsr-3774	219	34	significance	significance	NOUN
fsr-3774	219	35	,	,	PUNCT
fsr-3774	219	36	having	have	VERB
fsr-3774	219	37	a	a	DET
fsr-3774	219	38	t	t	NOUN
fsr-3774	219	39	-	-	PUNCT
fsr-3774	219	40	value	value	NOUN
fsr-3774	219	41	of	of	ADP
fsr-3774	219	42	2.84	2.84	NUM
fsr-3774	219	43	.	.	PUNCT
fsr-3774	220	1	(	(	PUNCT
fsr-3774	220	2	the	the	DET
fsr-3774	220	3	day	day	NOUN
fsr-3774	220	4	5	5	NUM
fsr-3774	220	5	value	value	NOUN
fsr-3774	220	6	of	of	ADP
fsr-3774	220	7	5.55	5.55	NUM
fsr-3774	220	8	is	be	AUX
fsr-3774	220	9	significantly	significantly	ADV
fsr-3774	220	10	different	different	ADJ
fsr-3774	220	11	only	only	ADV
fsr-3774	220	12	at	at	ADP
fsr-3774	220	13	about	about	ADV
fsr-3774	220	14	the	the	DET
fsr-3774	220	15	10	10	NUM
fsr-3774	220	16	%	%	NOUN
fsr-3774	220	17	level	level	NOUN
fsr-3774	220	18	of	of	ADP
fsr-3774	220	19	significance	significance	NOUN
fsr-3774	220	20	.	.	PUNCT
fsr-3774	220	21	)	)	PUNCT
fsr-3774	221	1	none	none	NOUN
fsr-3774	221	2	of	of	ADP
fsr-3774	221	3	the	the	DET
fsr-3774	221	4	other	other	ADJ
fsr-3774	221	5	daily	daily	PROPN
fsr-3774	221	6	nyse	nyse	PROPN
fsr-3774	221	7	volume	volume	NOUN
fsr-3774	221	8	proportions	proportion	NOUN
fsr-3774	221	9	are	be	AUX
fsr-3774	221	10	significantly	significantly	ADV
fsr-3774	221	11	different	different	ADJ
fsr-3774	221	12	from	from	ADP
fsr-3774	221	13	5.26	5.26	NUM
fsr-3774	221	14	%	%	NOUN
fsr-3774	221	15	.	.	PUNCT
fsr-3774	222	1	however	however	ADV
fsr-3774	222	2	,	,	PUNCT
fsr-3774	222	3	looking	look	VERB
fsr-3774	222	4	at	at	ADP
fsr-3774	222	5	the	the	DET
fsr-3774	222	6	last	last	ADJ
fsr-3774	222	7	x	x	VERB
fsr-3774	222	8	trading	trading	NOUN
fsr-3774	222	9	days	day	NOUN
fsr-3774	222	10	data	datum	NOUN
fsr-3774	222	11	in	in	ADP
fsr-3774	222	12	panel	panel	NOUN
fsr-3774	222	13	b	b	PROPN
fsr-3774	222	14	of	of	ADP
fsr-3774	222	15	table	table	NOUN
fsr-3774	222	16	3	3	NUM
fsr-3774	222	17	,	,	PUNCT
fsr-3774	222	18	all	all	DET
fsr-3774	222	19	the	the	DET
fsr-3774	222	20	percentages	percentage	NOUN
fsr-3774	222	21	are	be	AUX
fsr-3774	222	22	above	above	ADP
fsr-3774	222	23	those	those	PRON
fsr-3774	222	24	of	of	ADP
fsr-3774	222	25	a	a	DET
fsr-3774	222	26	uniform	uniform	ADJ
fsr-3774	222	27	distribution	distribution	NOUN
fsr-3774	222	28	(	(	PUNCT
fsr-3774	222	29	10.53	10.53	NUM
fsr-3774	222	30	%	%	NOUN
fsr-3774	222	31	,	,	PUNCT
fsr-3774	222	32	15.79	15.79	NUM
fsr-3774	222	33	%	%	NOUN
fsr-3774	222	34	,	,	PUNCT
fsr-3774	222	35	21.05	21.05	NUM
fsr-3774	222	36	%	%	NOUN
fsr-3774	222	37	,	,	PUNCT
fsr-3774	222	38	and	and	CCONJ
fsr-3774	222	39	26.32	26.32	NUM
fsr-3774	222	40	%	%	NOUN
fsr-3774	222	41	)	)	PUNCT
fsr-3774	222	42	,	,	PUNCT
fsr-3774	222	43	and	and	CCONJ
fsr-3774	222	44	two	two	NUM
fsr-3774	222	45	of	of	ADP
fsr-3774	222	46	the	the	DET
fsr-3774	222	47	four	four	NUM
fsr-3774	222	48	are	be	AUX
fsr-3774	222	49	statistically	statistically	ADV
fsr-3774	222	50	significant	significant	ADJ
fsr-3774	222	51	at	at	ADP
fsr-3774	222	52	the	the	DET
fsr-3774	222	53	5	5	NUM
fsr-3774	222	54	%	%	NOUN
fsr-3774	222	55	level	level	NOUN
fsr-3774	222	56	.	.	PUNCT
fsr-3774	223	1	in	in	ADP
fsr-3774	223	2	the	the	DET
fsr-3774	223	3	last	last	ADJ
fsr-3774	223	4	week	week	NOUN
fsr-3774	223	5	of	of	ADP
fsr-3774	223	6	each	each	DET
fsr-3774	223	7	production	production	NOUN
fsr-3774	223	8	month	month	NOUN
fsr-3774	223	9	,	,	PUNCT
fsr-3774	223	10	27.33	27.33	NUM
fsr-3774	223	11	%	%	NOUN
fsr-3774	223	12	of	of	ADP
fsr-3774	223	13	the	the	DET
fsr-3774	223	14	nyse	nyse	PROPN
fsr-3774	223	15	monthly	monthly	ADJ
fsr-3774	223	16	trading	trading	NOUN
fsr-3774	223	17	volume	volume	NOUN
fsr-3774	223	18	took	take	VERB
fsr-3774	223	19	place	place	NOUN
fsr-3774	223	20	.	.	PUNCT
fsr-3774	224	1	this	this	DET
fsr-3774	224	2	proportion	proportion	NOUN
fsr-3774	224	3	is	be	AUX
fsr-3774	224	4	significantly	significantly	ADV
fsr-3774	224	5	higher	high	ADJ
fsr-3774	224	6	than	than	ADP
fsr-3774	224	7	the	the	DET
fsr-3774	224	8	26.32	26.32	NUM
fsr-3774	224	9	%	%	NOUN
fsr-3774	224	10	expected	expect	VERB
fsr-3774	224	11	value	value	NOUN
fsr-3774	224	12	(	(	PUNCT
fsr-3774	224	13	the	the	DET
fsr-3774	224	14	r	r	NOUN
fsr-3774	224	15	-	-	PUNCT
fsr-3774	224	16	value	value	NOUN
fsr-3774	224	17	of	of	ADP
fsr-3774	224	18	the	the	DET
fsr-3774	224	19	test	test	NOUN
fsr-3774	224	20	is	be	AUX
fsr-3774	224	21	1.92	1.92	NUM
fsr-3774	224	22	)	)	PUNCT
fsr-3774	224	23	.	.	PUNCT
fsr-3774	225	1	overall	overall	ADV
fsr-3774	225	2	,	,	PUNCT
fsr-3774	225	3	the	the	DET
fsr-3774	225	4	nyse	nyse	PROPN
fsr-3774	225	5	volume	volume	NOUN
fsr-3774	225	6	data	datum	NOUN
fsr-3774	225	7	provide	provide	VERB
fsr-3774	225	8	evidence	evidence	NOUN
fsr-3774	225	9	the	the	DET
fsr-3774	225	10	general	general	ADJ
fsr-3774	225	11	trading	trading	NOUN
fsr-3774	225	12	volume	volume	NOUN
fsr-3774	225	13	is	be	AUX
fsr-3774	225	14	higher	high	ADJ
fsr-3774	225	15	than	than	SCONJ
fsr-3774	225	16	expected	expect	VERB
fsr-3774	225	17	near	near	ADP
fsr-3774	225	18	the	the	DET
fsr-3774	225	19	end	end	NOUN
fsr-3774	225	20	of	of	ADP
fsr-3774	225	21	the	the	DET
fsr-3774	225	22	production	production	NOUN
fsr-3774	225	23	month	month	NOUN
fsr-3774	225	24	.	.	PUNCT
fsr-3774	226	1	this	this	DET
fsr-3774	226	2	higher	high	ADJ
fsr-3774	226	3	level	level	NOUN
fsr-3774	226	4	of	of	ADP
fsr-3774	226	5	trading	trading	NOUN
fsr-3774	226	6	could	could	AUX
fsr-3774	226	7	be	be	AUX
fsr-3774	226	8	due	due	ADJ
fsr-3774	226	9	to	to	ADP
fsr-3774	226	10	increased	increase	VERB
fsr-3774	226	11	broker	broker	NOUN
fsr-3774	226	12	activity	activity	NOUN
fsr-3774	226	13	near	near	ADP
fsr-3774	226	14	month	month	NOUN
fsr-3774	226	15	-	-	PUNCT
fsr-3774	226	16	end	end	NOUN
fsr-3774	226	17	,	,	PUNCT
fsr-3774	226	18	to	to	ADP
fsr-3774	226	19	higher	high	ADJ
fsr-3774	226	20	information	information	NOUN
fsr-3774	226	21	flows	flow	NOUN
fsr-3774	226	22	near	near	ADP
fsr-3774	226	23	month	month	NOUN
fsr-3774	226	24	-	-	PUNCT
fsr-3774	226	25	end	end	NOUN
fsr-3774	226	26	,	,	PUNCT
fsr-3774	226	27	or	or	CCONJ
fsr-3774	226	28	to	to	ADP
fsr-3774	226	29	some	some	DET
fsr-3774	226	30	other	other	ADJ
fsr-3774	226	31	unexplained	unexplained	ADJ
fsr-3774	226	32	factor	factor	NOUN
fsr-3774	226	33	.	.	PUNCT
fsr-3774	227	1	the	the	DET
fsr-3774	227	2	nyse	nyse	PROPN
fsr-3774	227	3	odd	odd	ADJ
fsr-3774	227	4	-	-	PUNCT
fsr-3774	227	5	lot	lot	NOUN
fsr-3774	227	6	trading	trading	NOUN
fsr-3774	227	7	data	datum	NOUN
fsr-3774	227	8	also	also	ADV
fsr-3774	227	9	provide	provide	VERB
fsr-3774	227	10	evidence	evidence	NOUN
fsr-3774	227	11	of	of	ADP
fsr-3774	227	12	uneven	uneven	ADJ
fsr-3774	227	13	intramonth	intramonth	NOUN
fsr-3774	227	14	trading	trading	NOUN
fsr-3774	227	15	.	.	PUNCT
fsr-3774	228	1	panel	panel	NOUN
fsr-3774	228	2	a	a	DET
fsr-3774	228	3	of	of	ADP
fsr-3774	228	4	table	table	NOUN
fsr-3774	228	5	3	3	NUM
fsr-3774	228	6	shows	show	VERB
fsr-3774	228	7	that	that	SCONJ
fsr-3774	228	8	the	the	DET
fsr-3774	228	9	proportion	proportion	NOUN
fsr-3774	228	10	of	of	ADP
fsr-3774	228	11	daily	daily	ADJ
fsr-3774	228	12	odd	odd	ADJ
fsr-3774	228	13	-	-	PUNCT
fsr-3774	228	14	lot	lot	NOUN
fsr-3774	228	15	purchases	purchase	NOUN
fsr-3774	228	16	and	and	CCONJ
fsr-3774	228	17	sales	sale	NOUN
fsr-3774	228	18	is	be	AUX
fsr-3774	228	19	greater	great	ADJ
fsr-3774	228	20	than	than	ADP
fsr-3774	228	21	5.26	5.26	NUM
fsr-3774	228	22	%	%	NOUN
fsr-3774	228	23	for	for	ADP
fsr-3774	228	24	each	each	PRON
fsr-3774	228	25	of	of	ADP
fsr-3774	228	26	the	the	DET
fsr-3774	228	27	last	last	ADJ
fsr-3774	228	28	five	five	NUM
fsr-3774	228	29	days	day	NOUN
fsr-3774	228	30	of	of	ADP
fsr-3774	228	31	the	the	DET
fsr-3774	228	32	production	production	NOUN
fsr-3774	228	33	month	month	NOUN
fsr-3774	228	34	.	.	PUNCT
fsr-3774	229	1	however	however	ADV
fsr-3774	229	2	,	,	PUNCT
fsr-3774	229	3	only	only	ADV
fsr-3774	229	4	two	two	NUM
fsr-3774	229	5	of	of	ADP
fsr-3774	229	6	these	these	PRON
fsr-3774	229	7	are	be	AUX
fsr-3774	229	8	significantly	significantly	ADV
fsr-3774	229	9	different	different	ADJ
fsr-3774	229	10	from	from	ADP
fsr-3774	229	11	5.26	5.26	NUM
fsr-3774	229	12	%	%	NOUN
fsr-3774	229	13	.	.	PUNCT
fsr-3774	230	1	looking	look	VERB
fsr-3774	230	2	at	at	ADP
fsr-3774	230	3	the	the	DET
fsr-3774	230	4	last	last	ADJ
fsr-3774	230	5	five	five	NUM
fsr-3774	230	6	trading	trading	NOUN
fsr-3774	230	7	day	day	NOUN
fsr-3774	230	8	proportions	proportion	NOUN
fsr-3774	230	9	in	in	ADP
fsr-3774	230	10	panel	panel	NOUN
fsr-3774	230	11	b	b	PROPN
fsr-3774	230	12	,	,	PUNCT
fsr-3774	230	13	both	both	CCONJ
fsr-3774	230	14	the	the	DET
fsr-3774	230	15	odd	odd	ADJ
fsr-3774	230	16	-	-	PUNCT
fsr-3774	230	17	lot	lot	NOUN
fsr-3774	230	18	purchase	purchase	NOUN
fsr-3774	230	19	and	and	CCONJ
fsr-3774	230	20	odd	odd	ADJ
fsr-3774	230	21	-	-	PUNCT
fsr-3774	230	22	lot	lot	NOUN
fsr-3774	230	23	sale	sale	NOUN
fsr-3774	230	24	proportions	proportion	NOUN
fsr-3774	230	25	are	be	AUX
fsr-3774	230	26	significantly	significantly	ADV
fsr-3774	230	27	higher	high	ADJ
fsr-3774	230	28	(	(	PUNCT
fsr-3774	230	29	at	at	ADP
fsr-3774	230	30	the	the	DET
fsr-3774	230	31	1	1	NUM
fsr-3774	230	32	%	%	NOUN
fsr-3774	230	33	and	and	CCONJ
fsr-3774	230	34	5	5	NUM
fsr-3774	230	35	%	%	NOUN
fsr-3774	230	36	levels	level	NOUN
fsr-3774	230	37	of	of	ADP
fsr-3774	230	38	significance	significance	NOUN
fsr-3774	230	39	,	,	PUNCT
fsr-3774	230	40	respectively	respectively	ADV
fsr-3774	230	41	)	)	PUNCT
fsr-3774	230	42	than	than	ADP
fsr-3774	230	43	the	the	DET
fsr-3774	230	44	expected	expect	VERB
fsr-3774	230	45	value	value	NOUN
fsr-3774	230	46	of	of	ADP
fsr-3774	230	47	26.32	26.32	NUM
fsr-3774	230	48	.	.	PUNCT
fsr-3774	231	1	the	the	DET
fsr-3774	231	2	odd	odd	ADJ
fsr-3774	231	3	-	-	PUNCT
fsr-3774	231	4	lot	lot	NOUN
fsr-3774	231	5	purchase	purchase	NOUN
fsr-3774	231	6	proportions	proportion	NOUN
fsr-3774	231	7	are	be	AUX
fsr-3774	231	8	somewhat	somewhat	ADV
fsr-3774	231	9	higher	high	ADJ
fsr-3774	231	10	than	than	ADP
fsr-3774	231	11	those	those	PRON
fsr-3774	231	12	for	for	ADP
fsr-3774	231	13	odd	odd	ADJ
fsr-3774	231	14	-	-	PUNCT
fsr-3774	231	15	lot	lot	NOUN
fsr-3774	231	16	sales	sale	NOUN
fsr-3774	231	17	and	and	CCONJ
fsr-3774	231	18	support	support	VERB
fsr-3774	231	19	the	the	DET
fsr-3774	231	20	suggestion	suggestion	NOUN
fsr-3774	231	21	that	that	SCONJ
fsr-3774	231	22	odd	odd	ADJ
fsr-3774	231	23	-	-	PUNCT
fsr-3774	231	24	lot	lot	NOUN
fsr-3774	231	25	purchases	purchase	NOUN
fsr-3774	231	26	better	well	ADV
fsr-3774	231	27	reflect	reflect	VERB
fsr-3774	231	28	the	the	DET
fsr-3774	231	29	level	level	NOUN
fsr-3774	231	30	of	of	ADP
fsr-3774	231	31	individual	individual	ADJ
fsr-3774	231	32	trading	trading	NOUN
fsr-3774	231	33	than	than	SCONJ
fsr-3774	231	34	do	do	VERB
fsr-3774	231	35	odd	odd	ADJ
fsr-3774	231	36	-	-	PUNCT
fsr-3774	231	37	lot	lot	NOUN
fsr-3774	231	38	sales	sale	NOUN
fsr-3774	231	39	.	.	PUNCT
fsr-3774	232	1	the	the	DET
fsr-3774	232	2	odd	odd	ADJ
fsr-3774	232	3	-	-	PUNCT
fsr-3774	232	4	lot	lot	NOUN
fsr-3774	232	5	purchase	purchase	NOUN
fsr-3774	232	6	results	result	NOUN
fsr-3774	232	7	shown	show	VERB
fsr-3774	232	8	in	in	ADP
fsr-3774	232	9	table	table	NOUN
fsr-3774	232	10	3	3	NUM
fsr-3774	232	11	also	also	ADV
fsr-3774	232	12	support	support	VERB
fsr-3774	232	13	the	the	DET
fsr-3774	232	14	hypothesis	hypothesis	NOUN
fsr-3774	232	15	that	that	PRON
fsr-3774	232	16	higher	high	ADJ
fsr-3774	232	17	trading	trading	NOUN
fsr-3774	232	18	around	around	ADP
fsr-3774	232	19	the	the	DET
fsr-3774	232	20	end	end	NOUN
fsr-3774	232	21	of	of	ADP
fsr-3774	232	22	the	the	DET
fsr-3774	232	23	production	production	NOUN
fsr-3774	232	24	month	month	NOUN
fsr-3774	232	25	may	may	AUX
fsr-3774	232	26	have	have	AUX
fsr-3774	232	27	occurred	occur	VERB
fsr-3774	232	28	in	in	ADP
fsr-3774	232	29	brokerage	brokerage	NOUN
fsr-3774	232	30	firms	firm	NOUN
fsr-3774	232	31	other	other	ADJ
fsr-3774	232	32	than	than	ADP
fsr-3774	232	33	the	the	DET
fsr-3774	232	34	single	single	ADJ
fsr-3774	232	35	firm	firm	NOUN
fsr-3774	232	36	examined	examine	VERB
fsr-3774	232	37	in	in	ADP
fsr-3774	232	38	this	this	DET
fsr-3774	232	39	paper	paper	NOUN
fsr-3774	232	40	.	.	PUNCT
fsr-3774	233	1	commission	commission	NOUN
fsr-3774	233	2	-	-	PUNCT
fsr-3774	233	3	motivated	motivate	VERB
fsr-3774	233	4	trading	trading	NOUN
fsr-3774	233	5	patterns	pattern	NOUN
fsr-3774	233	6	of	of	ADP
fsr-3774	233	7	brokers	broker	NOUN
fsr-3774	233	8	91	91	NUM
fsr-3774	233	9	table	table	NOUN
fsr-3774	233	10	3	3	NUM
fsr-3774	233	11	percentage	percentage	NOUN
fsr-3774	233	12	of	of	ADP
fsr-3774	233	13	total	total	ADJ
fsr-3774	233	14	monthly	monthly	ADJ
fsr-3774	233	15	trading	trading	NOUN
fsr-3774	233	16	in	in	ADP
fsr-3774	233	17	the	the	DET
fsr-3774	233	18	stock	stock	NOUN
fsr-3774	233	19	market	market	NOUN
fsr-3774	233	20	during	during	ADP
fsr-3774	233	21	the	the	DET
fsr-3774	233	22	last	last	ADJ
fsr-3774	233	23	week	week	NOUN
fsr-3774	233	24	of	of	ADP
fsr-3774	233	25	the	the	DET
fsr-3774	233	26	production	production	NOUN
fsr-3774	233	27	month	month	NOUN
fsr-3774	233	28	numbers	number	NOUN
fsr-3774	233	29	in	in	ADP
fsr-3774	233	30	the	the	DET
fsr-3774	233	31	columns	column	NOUN
fsr-3774	233	32	are	be	AUX
fsr-3774	233	33	the	the	DET
fsr-3774	233	34	average	average	ADJ
fsr-3774	233	35	percentage	percentage	NOUN
fsr-3774	233	36	of	of	ADP
fsr-3774	233	37	total	total	ADJ
fsr-3774	233	38	monthly	monthly	ADJ
fsr-3774	233	39	trading	trading	NOUN
fsr-3774	233	40	in	in	ADP
fsr-3774	233	41	that	that	DET
fsr-3774	233	42	market	market	NOUN
fsr-3774	233	43	on	on	ADP
fsr-3774	233	44	the	the	DET
fsr-3774	233	45	trading	trading	NOUN
fsr-3774	233	46	day	day	NOUN
fsr-3774	233	47	(	(	PUNCT
fsr-3774	233	48	panel	panel	NOUN
fsr-3774	233	49	a	a	NOUN
fsr-3774	233	50	)	)	PUNCT
fsr-3774	233	51	or	or	CCONJ
fsr-3774	233	52	the	the	DET
fsr-3774	233	53	group	group	NOUN
fsr-3774	233	54	of	of	ADP
fsr-3774	233	55	trading	trading	PROPN
fsr-3774	233	56	&	&	CCONJ
fsr-3774	233	57	ys	ys	PROPN
fsr-3774	233	58	(	(	PUNCT
fsr-3774	233	59	panel	panel	NOUN
fsr-3774	233	60	b	b	NOUN
fsr-3774	233	61	)	)	PUNCT
fsr-3774	233	62	listed	list	VERB
fsr-3774	233	63	in	in	ADP
fsr-3774	233	64	the	the	DET
fsr-3774	233	65	first	first	ADJ
fsr-3774	233	66	column	column	NOUN
fsr-3774	233	67	.	.	PUNCT
fsr-3774	234	1	trading	trading	NOUN
fsr-3774	234	2	day	day	NOUN
fsr-3774	234	3	1	1	NUM
fsr-3774	234	4	is	be	AUX
fsr-3774	234	5	the	the	DET
fsr-3774	234	6	last	last	ADJ
fsr-3774	234	7	a’ay	a’ay	NOUN
fsr-3774	234	8	of	of	ADP
fsr-3774	234	9	the	the	DET
fsr-3774	234	10	production	production	NOUN
fsr-3774	234	11	month	month	NOUN
fsr-3774	234	12	,	,	PUNCT
fsr-3774	234	13	trading	trading	NOUN
fsr-3774	234	14	by	by	ADP
fsr-3774	234	15	2	2	NUM
fsr-3774	234	16	is	be	AUX
fsr-3774	234	17	the	the	DET
fsr-3774	234	18	next	next	ADJ
fsr-3774	234	19	-	-	PUNCT
fsr-3774	234	20	to	to	ADP
fsr-3774	234	21	-	-	PUNCT
fsr-3774	234	22	last	last	ADJ
fsr-3774	234	23	trading	trading	NOUN
fsr-3774	234	24	day	day	NOUN
fsr-3774	234	25	,	,	PUNCT
fsr-3774	234	26	and	and	CCONJ
fsr-3774	234	27	so	so	ADV
fsr-3774	234	28	forth	forth	ADV
fsr-3774	234	29	.	.	PUNCT
fsr-3774	235	1	trading	trading	NOUN
fsr-3774	235	2	day	day	PROPN
fsr-3774	235	3	nyse	nyse	PROPN
fsr-3774	235	4	volume	volume	PROPN
fsr-3774	235	5	odd	odd	ADJ
fsr-3774	235	6	-	-	PUNCT
fsr-3774	235	7	lot	lot	NOUN
fsr-3774	235	8	purchases	purchase	NOUN
fsr-3774	235	9	odd	odd	ADJ
fsr-3774	235	10	-	-	PUNCT
fsr-3774	235	11	lot	lot	NOUN
fsr-3774	235	12	sales	sale	NOUN
fsr-3774	235	13	panel	panel	NOUN
fsr-3774	235	14	a	a	DET
fsr-3774	235	15	:	:	PUNCT
fsr-3774	235	16	single	single	ADJ
fsr-3774	235	17	trading	trading	NOUN
fsr-3774	235	18	days	day	NOUN
fsr-3774	235	19	1	1	NUM
fsr-3774	235	20	5.39	5.39	NUM
fsr-3774	235	21	5.53	5.53	NUM
fsr-3774	235	22	5.35	5.35	NUM
fsr-3774	235	23	2	2	NUM
fsr-3774	235	24	5.48	5.48	NUM
fsr-3774	235	25	5.44	5.44	NUM
fsr-3774	235	26	5.49	5.49	NUM
fsr-3774	235	27	3	3	NUM
fsr-3774	235	28	5.66	5.66	NUM
fsr-3774	235	29	*	*	SYM
fsr-3774	235	30	5.74	5.74	NUM
fsr-3774	235	31	%	%	NOUN
fsr-3774	235	32	5.50	5.50	NUM
fsr-3774	235	33	4	4	NUM
fsr-3774	235	34	5.24	5.24	NUM
fsr-3774	235	35	5.64	5.64	NUM
fsr-3774	235	36	5.32	5.32	NUM
fsr-3774	235	37	5	5	NUM
fsr-3774	235	38	5.55	5.55	NUM
fsr-3774	235	39	5.52	5.52	NUM
fsr-3774	235	40	5.51	5.51	NUM
fsr-3774	235	41	panel	panel	NOUN
fsr-3774	235	42	b	b	NOUN
fsr-3774	235	43	:	:	PUNCT
fsr-3774	235	44	grouped	group	VERB
fsr-3774	235	45	trading	trading	NOUN
fsr-3774	235	46	days	day	NOUN
fsr-3774	235	47	last	last	ADJ
fsr-3774	235	48	few	few	ADJ
fsr-3774	235	49	trading	trading	NOUN
fsr-3774	235	50	days	day	NOUN
fsr-3774	235	51	2	2	NUM
fsr-3774	235	52	days	day	NOUN
fsr-3774	235	53	10.86	10.86	NUM
fsr-3774	235	54	10.97	10.97	NUM
fsr-3774	235	55	10.84	10.84	NUM
fsr-3774	235	56	3	3	NUM
fsr-3774	235	57	days	day	NOUN
fsr-3774	235	58	16.53	16.53	NUM
fsr-3774	235	59	*	*	SYM
fsr-3774	235	60	*	*	X
fsr-3774	235	61	16.72	16.72	NUM
fsr-3774	235	62	*	*	SYM
fsr-3774	235	63	16.34	16.34	NUM
fsr-3774	235	64	4	4	NUM
fsr-3774	235	65	days	day	NOUN
fsr-3774	235	66	21.78	21.78	NUM
fsr-3774	235	67	22.36	22.36	NUM
fsr-3774	235	68	*	*	SYM
fsr-3774	235	69	21.65	21.65	NUM
fsr-3774	235	70	5	5	NUM
fsr-3774	235	71	days	day	NOUN
fsr-3774	235	72	27.33	27.33	NUM
fsr-3774	235	73	*	*	NOUN
fsr-3774	235	74	*	*	PUNCT
fsr-3774	236	1	27.88	27.88	NUM
fsr-3774	236	2	*	*	PUNCT
fsr-3774	236	3	27.16	27.16	NUM
fsr-3774	236	4	*	*	NOUN
fsr-3774	236	5	*	*	NOUN
fsr-3774	236	6	notes	note	NOUN
fsr-3774	236	7	:	:	PUNCT
fsr-3774	236	8	*	*	PUNCT
fsr-3774	236	9	significant	significant	ADJ
fsr-3774	236	10	at	at	ADP
fsr-3774	236	11	the	the	DET
fsr-3774	236	12	1	1	NUM
fsr-3774	236	13	%	%	NOUN
fsr-3774	236	14	level	level	NOUN
fsr-3774	236	15	,	,	PUNCT
fsr-3774	236	16	using	use	VERB
fsr-3774	236	17	a	a	DET
fsr-3774	236	18	one	one	NUM
fsr-3774	236	19	-	-	PUNCT
fsr-3774	236	20	tailed	tail	VERB
fsr-3774	236	21	test	test	NOUN
fsr-3774	236	22	.	.	PUNCT
fsr-3774	237	1	*	*	PUNCT
fsr-3774	237	2	*	*	PUNCT
fsr-3774	237	3	significant	significant	ADJ
fsr-3774	237	4	at	at	ADP
fsr-3774	237	5	the	the	DET
fsr-3774	237	6	5	5	NUM
fsr-3774	237	7	%	%	NOUN
fsr-3774	237	8	level	level	NOUN
fsr-3774	237	9	,	,	PUNCT
fsr-3774	237	10	using	use	VERB
fsr-3774	237	11	a	a	DET
fsr-3774	237	12	one	one	NUM
fsr-3774	237	13	-	-	PUNCT
fsr-3774	237	14	tailed	tail	VERB
fsr-3774	237	15	test	test	NOUN
fsr-3774	237	16	.	.	PUNCT
fsr-3774	238	1	vi	vi	X
fsr-3774	238	2	.	.	PROPN
fsr-3774	238	3	broker	broker	NOUN
fsr-3774	238	4	trading	trading	NOUN
fsr-3774	238	5	activity	activity	NOUN
fsr-3774	238	6	versus	versus	ADP
fsr-3774	238	7	nyse	nyse	PROPN
fsr-3774	238	8	trading	trading	NOUN
fsr-3774	238	9	volume	volume	NOUN
fsr-3774	238	10	the	the	DET
fsr-3774	238	11	data	datum	NOUN
fsr-3774	238	12	in	in	ADP
fsr-3774	238	13	table	table	NOUN
fsr-3774	238	14	3	3	NUM
fsr-3774	238	15	indicate	indicate	VERB
fsr-3774	238	16	a	a	DET
fsr-3774	238	17	slight	slight	ADJ
fsr-3774	238	18	increase	increase	NOUN
fsr-3774	238	19	in	in	ADP
fsr-3774	238	20	general	general	ADJ
fsr-3774	238	21	market	market	NOUN
fsr-3774	238	22	trading	trading	NOUN
fsr-3774	238	23	at	at	ADP
fsr-3774	238	24	the	the	DET
fsr-3774	238	25	end	end	NOUN
fsr-3774	238	26	of	of	ADP
fsr-3774	238	27	the	the	DET
fsr-3774	238	28	production	production	NOUN
fsr-3774	238	29	month	month	NOUN
fsr-3774	238	30	.	.	PUNCT
fsr-3774	239	1	one	one	NUM
fsr-3774	239	2	explanation	explanation	NOUN
fsr-3774	239	3	for	for	ADP
fsr-3774	239	4	this	this	DET
fsr-3774	239	5	intramonth	intramonth	ADJ
fsr-3774	239	6	seasonality	seasonality	NOUN
fsr-3774	239	7	in	in	ADP
fsr-3774	239	8	overall	overall	ADJ
fsr-3774	239	9	trading	trading	NOUN
fsr-3774	239	10	could	could	AUX
fsr-3774	239	11	be	be	AUX
fsr-3774	239	12	that	that	SCONJ
fsr-3774	239	13	it	it	PRON
fsr-3774	239	14	is	be	AUX
fsr-3774	239	15	caused	cause	VERB
fsr-3774	239	16	by	by	ADP
fsr-3774	239	17	the	the	DET
fsr-3774	239	18	commission	commission	NOUN
fsr-3774	239	19	-	-	PUNCT
fsr-3774	239	20	motivated	motivate	VERB
fsr-3774	239	21	trading	trading	NOUN
fsr-3774	239	22	we	we	PRON
fsr-3774	239	23	have	have	AUX
fsr-3774	239	24	identified	identify	VERB
fsr-3774	239	25	.	.	PUNCT
fsr-3774	240	1	this	this	DET
fsr-3774	240	2	possibility	possibility	NOUN
fsr-3774	240	3	seems	seem	VERB
fsr-3774	240	4	unlikely	unlikely	ADJ
fsr-3774	240	5	,	,	PUNCT
fsr-3774	240	6	however	however	ADV
fsr-3774	240	7	,	,	PUNCT
fsr-3774	240	8	since	since	SCONJ
fsr-3774	240	9	our	our	PRON
fsr-3774	240	10	data	datum	NOUN
fsr-3774	240	11	reflect	reflect	VERB
fsr-3774	240	12	transactions	transaction	NOUN
fsr-3774	240	13	made	make	VERB
fsr-3774	240	14	by	by	ADP
fsr-3774	240	15	individual	individual	ADJ
fsr-3774	240	16	customers	customer	NOUN
fsr-3774	240	17	of	of	ADP
fsr-3774	240	18	brokerage	brokerage	NOUN
fsr-3774	240	19	firms	firm	NOUN
fsr-3774	240	20	,	,	PUNCT
fsr-3774	240	21	which	which	PRON
fsr-3774	240	22	are	be	AUX
fsr-3774	240	23	only	only	ADV
fsr-3774	240	24	a	a	DET
fsr-3774	240	25	small	small	ADJ
fsr-3774	240	26	proportion	proportion	NOUN
fsr-3774	240	27	of	of	ADP
fsr-3774	240	28	overall	overall	ADJ
fsr-3774	240	29	trading	trading	NOUN
fsr-3774	240	30	.	.	PUNCT
fsr-3774	241	1	(	(	PUNCT
fsr-3774	241	2	trading	trading	NOUN
fsr-3774	241	3	by	by	ADP
fsr-3774	241	4	individuals	individual	NOUN
fsr-3774	241	5	for	for	ADP
fsr-3774	241	6	1993	1993	NUM
fsr-3774	241	7	was	be	AUX
fsr-3774	241	8	less	less	ADJ
fsr-3774	241	9	than	than	ADP
fsr-3774	241	10	20	20	NUM
fsr-3774	241	11	%	%	NOUN
fsr-3774	241	12	of	of	ADP
fsr-3774	241	13	total	total	ADJ
fsr-3774	241	14	nyse	nyse	PROPN
fsr-3774	241	15	volume	volume	NOUN
fsr-3774	241	16	.	.	PUNCT
fsr-3774	241	17	)	)	PUNCT
fsr-3774	242	1	another	another	DET
fsr-3774	242	2	explanation	explanation	NOUN
fsr-3774	242	3	for	for	ADP
fsr-3774	242	4	intramonth	intramonth	NOUN
fsr-3774	242	5	seasonality	seasonality	NOUN
fsr-3774	242	6	of	of	ADP
fsr-3774	242	7	overall	overall	ADJ
fsr-3774	242	8	volume	volume	NOUN
fsr-3774	242	9	might	might	AUX
fsr-3774	242	10	be	be	AUX
fsr-3774	242	11	that	that	SCONJ
fsr-3774	242	12	there	there	PRON
fsr-3774	242	13	is	be	VERB
fsr-3774	242	14	a	a	DET
fsr-3774	242	15	pattern	pattern	NOUN
fsr-3774	242	16	of	of	ADP
fsr-3774	242	17	intramonth	intramonth	NOUN
fsr-3774	242	18	seasonality	seasonality	NOUN
fsr-3774	242	19	in	in	ADP
fsr-3774	242	20	information	information	NOUN
fsr-3774	242	21	,	,	PUNCT
fsr-3774	242	22	although	although	SCONJ
fsr-3774	242	23	,	,	PUNCT
fsr-3774	242	24	as	as	SCONJ
fsr-3774	242	25	discussed	discuss	VERB
fsr-3774	242	26	above	above	ADV
fsr-3774	242	27	,	,	PUNCT
fsr-3774	242	28	we	we	PRON
fsr-3774	242	29	know	know	VERB
fsr-3774	242	30	of	of	ADP
fsr-3774	242	31	no	no	DET
fsr-3774	242	32	published	publish	VERB
fsr-3774	242	33	research	research	NOUN
fsr-3774	242	34	that	that	PRON
fsr-3774	242	35	substantiates	substantiate	VERB
fsr-3774	242	36	this	this	DET
fsr-3774	242	37	conjecture	conjecture	NOUN
fsr-3774	242	38	.	.	PUNCT
fsr-3774	243	1	there	there	PRON
fsr-3774	243	2	may	may	AUX
fsr-3774	243	3	also	also	ADV
fsr-3774	243	4	be	be	AUX
fsr-3774	243	5	other	other	ADJ
fsr-3774	243	6	exoge	exoge	PROPN
fsr-3774	243	7	nous	nous	ADJ
fsr-3774	243	8	,	,	PUNCT
fsr-3774	243	9	unknown	unknown	ADJ
fsr-3774	243	10	factors	factor	NOUN
fsr-3774	243	11	that	that	PRON
fsr-3774	243	12	contribute	contribute	VERB
fsr-3774	243	13	to	to	ADP
fsr-3774	243	14	the	the	DET
fsr-3774	243	15	volume	volume	NOUN
fsr-3774	243	16	seasonality	seasonality	NOUN
fsr-3774	243	17	.	.	PUNCT
fsr-3774	244	1	regardless	regardless	ADV
fsr-3774	244	2	of	of	ADP
fsr-3774	244	3	the	the	DET
fsr-3774	244	4	underly	underly	ADJ
fsr-3774	244	5	ing	ing	ADJ
fsr-3774	244	6	cause	cause	NOUN
fsr-3774	244	7	,	,	PUNCT
fsr-3774	244	8	we	we	PRON
fsr-3774	244	9	will	will	AUX
fsr-3774	244	10	now	now	ADV
fsr-3774	244	11	treat	treat	VERB
fsr-3774	244	12	the	the	DET
fsr-3774	244	13	seasonality	seasonality	NOUN
fsr-3774	244	14	in	in	ADP
fsr-3774	244	15	the	the	DET
fsr-3774	244	16	overall	overall	ADJ
fsr-3774	244	17	volume	volume	NOUN
fsr-3774	244	18	as	as	ADP
fsr-3774	244	19	the	the	DET
fsr-3774	244	20	null	null	ADJ
fsr-3774	244	21	hypothesis	hypothesis	NOUN
fsr-3774	244	22	against	against	ADP
fsr-3774	244	23	which	which	PRON
fsr-3774	244	24	to	to	PART
fsr-3774	244	25	test	test	VERB
fsr-3774	244	26	our	our	PRON
fsr-3774	244	27	observed	observe	VERB
fsr-3774	244	28	pattern	pattern	NOUN
fsr-3774	244	29	of	of	ADP
fsr-3774	244	30	broker	broker	NOUN
fsr-3774	244	31	trading	trading	NOUN
fsr-3774	244	32	.	.	PUNCT
fsr-3774	245	1	if	if	SCONJ
fsr-3774	245	2	we	we	PRON
fsr-3774	245	3	find	find	VERB
fsr-3774	245	4	that	that	SCONJ
fsr-3774	245	5	the	the	DET
fsr-3774	245	6	observed	observed	ADJ
fsr-3774	245	7	pattern	pattern	NOUN
fsr-3774	245	8	of	of	ADP
fsr-3774	245	9	broker	broker	NOUN
fsr-3774	245	10	trading	trading	NOUN
fsr-3774	245	11	is	be	AUX
fsr-3774	245	12	significantly	significantly	ADV
fsr-3774	245	13	different	different	ADJ
fsr-3774	245	14	from	from	ADP
fsr-3774	245	15	the	the	DET
fsr-3774	245	16	pattern	pattern	NOUN
fsr-3774	245	17	of	of	ADP
fsr-3774	245	18	overall	overall	ADJ
fsr-3774	245	19	trading	trading	NOUN
fsr-3774	245	20	,	,	PUNCT
fsr-3774	245	21	we	we	PRON
fsr-3774	245	22	can	can	AUX
fsr-3774	245	23	conclude	conclude	VERB
fsr-3774	245	24	that	that	SCONJ
fsr-3774	245	25	the	the	DET
fsr-3774	245	26	broker	broker	NOUN
fsr-3774	245	27	trading	trading	NOUN
fsr-3774	245	28	pattern	pattern	NOUN
fsr-3774	245	29	is	be	AUX
fsr-3774	245	30	not	not	PART
fsr-3774	245	31	caused	cause	VERB
fsr-3774	245	32	by	by	ADP
fsr-3774	245	33	the	the	DET
fsr-3774	245	34	exogenous	exogenous	ADJ
fsr-3774	245	35	factors	factor	NOUN
fsr-3774	245	36	affecting	affect	VERB
fsr-3774	245	37	overall	overall	ADJ
fsr-3774	245	38	trading	trading	NOUN
fsr-3774	245	39	,	,	PUNCT
fsr-3774	245	40	such	such	ADJ
fsr-3774	245	41	as	as	ADP
fsr-3774	245	42	possible	possible	ADJ
fsr-3774	245	43	information	information	NOUN
fsr-3774	245	44	seasonality	seasonality	NOUN
fsr-3774	245	45	.	.	PUNCT
fsr-3774	246	1	therefore	therefore	ADV
fsr-3774	246	2	,	,	PUNCT
fsr-3774	246	3	instead	instead	ADV
fsr-3774	246	4	of	of	ADP
fsr-3774	246	5	using	use	VERB
fsr-3774	246	6	1/19th	1/19th	NUM
fsr-3774	246	7	(	(	PUNCT
fsr-3774	246	8	or	or	CCONJ
fsr-3774	246	9	5.26	5.26	NUM
fsr-3774	246	10	)	)	PUNCT
fsr-3774	246	11	as	as	SCONJ
fsr-3774	246	12	the	the	DET
fsr-3774	246	13	expected	expect	VERB
fsr-3774	246	14	value	value	NOUN
fsr-3774	246	15	(	(	PUNCT
fsr-3774	246	16	as	as	SCONJ
fsr-3774	246	17	was	be	AUX
fsr-3774	246	18	done	do	VERB
fsr-3774	246	19	in	in	ADP
fsr-3774	246	20	section	section	NOUN
fsr-3774	246	21	iii	iii	PROPN
fsr-3774	246	22	)	)	PUNCT
fsr-3774	246	23	,	,	PUNCT
fsr-3774	246	24	we	we	PRON
fsr-3774	246	25	now	now	ADV
fsr-3774	246	26	use	use	VERB
fsr-3774	246	27	the	the	DET
fsr-3774	246	28	actual	actual	ADJ
fsr-3774	246	29	nyse	nyse	PROPN
fsr-3774	246	30	volume	volume	NOUN
fsr-3774	246	31	percentage	percentage	NOUN
fsr-3774	246	32	for	for	ADP
fsr-3774	246	33	that	that	DET
fsr-3774	246	34	day	day	NOUN
fsr-3774	246	35	,	,	PUNCT
fsr-3774	246	36	as	as	SCONJ
fsr-3774	246	37	shown	show	VERB
fsr-3774	246	38	in	in	ADP
fsr-3774	246	39	the	the	DET
fsr-3774	246	40	second	second	ADJ
fsr-3774	246	41	column	column	NOUN
fsr-3774	246	42	of	of	ADP
fsr-3774	246	43	panel	panel	NOUN
fsr-3774	246	44	a	a	DET
fsr-3774	246	45	in	in	ADP
fsr-3774	246	46	table	table	NOUN
fsr-3774	246	47	3	3	NUM
fsr-3774	246	48	.	.	PUNCT
fsr-3774	247	1	(	(	PUNCT
fsr-3774	247	2	we	we	PRON
fsr-3774	247	3	use	use	VERB
fsr-3774	247	4	the	the	DET
fsr-3774	247	5	nyse	nyse	PROPN
fsr-3774	247	6	trading	trading	NOUN
fsr-3774	247	7	volume	volume	NOUN
fsr-3774	247	8	data	datum	NOUN
fsr-3774	247	9	as	as	ADP
fsr-3774	247	10	a	a	DET
fsr-3774	247	11	reflection	reflection	NOUN
fsr-3774	247	12	of	of	ADP
fsr-3774	247	13	the	the	DET
fsr-3774	247	14	trading	trading	NOUN
fsr-3774	247	15	patterns	pattern	NOUN
fsr-3774	247	16	expected	expect	VERB
fsr-3774	247	17	of	of	ADP
fsr-3774	247	18	brokers	broker	NOUN
fsr-3774	247	19	,	,	PUNCT
fsr-3774	247	20	rather	rather	ADV
fsr-3774	247	21	than	than	ADP
fsr-3774	247	22	the	the	DET
fsr-3774	247	23	odd	odd	ADJ
fsr-3774	247	24	-	-	PUNCT
fsr-3774	247	25	lot	lot	NOUN
fsr-3774	247	26	trading	trading	NOUN
fsr-3774	247	27	percentages	percentage	NOUN
fsr-3774	247	28	,	,	PUNCT
fsr-3774	247	29	because	because	SCONJ
fsr-3774	247	30	the	the	DET
fsr-3774	247	31	nyse	nyse	PROPN
fsr-3774	247	32	trading	trading	NOUN
fsr-3774	247	33	may	may	AUX
fsr-3774	247	34	better	well	ADV
fsr-3774	247	35	reflect	reflect	VERB
fsr-3774	247	36	the	the	DET
fsr-3774	247	37	many	many	ADJ
fsr-3774	247	38	factors	factor	NOUN
fsr-3774	247	39	that	that	PRON
fsr-3774	247	40	affect	affect	VERB
fsr-3774	247	41	securities	security	NOUN
fsr-3774	247	42	trading	trading	NOUN
fsr-3774	247	43	patterns	pattern	NOUN
fsr-3774	247	44	.	.	PUNCT
fsr-3774	247	45	)	)	PUNCT
fsr-3774	248	1	the	the	DET
fsr-3774	248	2	f	f	NOUN
fsr-3774	248	3	-	-	PUNCT
fsr-3774	248	4	test	test	NOUN
fsr-3774	248	5	shown	show	VERB
fsr-3774	248	6	in	in	ADP
fsr-3774	248	7	equation	equation	NOUN
fsr-3774	248	8	(	(	PUNCT
fsr-3774	248	9	3	3	NUM
fsr-3774	248	10	)	)	PUNCT
fsr-3774	248	11	(	(	PUNCT
fsr-3774	248	12	for	for	ADP
fsr-3774	248	13	broker	broker	NOUN
fsr-3774	248	14	1	1	NUM
fsr-3774	248	15	on	on	ADP
fsr-3774	248	16	trading	trading	NOUN
fsr-3774	248	17	day	day	NOUN
fsr-3774	248	18	1	1	NUM
fsr-3774	248	19	)	)	PUNCT
fsr-3774	248	20	would	would	AUX
fsr-3774	248	21	become	become	VERB
fsr-3774	248	22	:	:	PUNCT
fsr-3774	248	23	t	t	X
fsr-3774	248	24	=	=	SYM
fsr-3774	248	25	(	(	PUNCT
fsr-3774	248	26	19.25	19.25	NUM
fsr-3774	248	27	5.39	5.39	NUM
fsr-3774	248	28	)	)	PUNCT
fsr-3774	248	29	/	/	PUNCT
fsr-3774	248	30	(	(	PUNCT
fsr-3774	248	31	23.82	23.82	NUM
fsr-3774	248	32	/	/	SYM
fsr-3774	248	33	fi	fi	NOUN
fsr-3774	248	34	)	)	PUNCT
fsr-3774	248	35	=	=	SYM
fsr-3774	248	36	2.85	2.85	NUM
fsr-3774	248	37	,	,	PUNCT
fsr-3774	248	38	92	92	NUM
fsr-3774	248	39	financial	financial	ADJ
fsr-3774	248	40	services	service	NOUN
fsr-3774	248	41	review	review	NOUN
fsr-3774	248	42	4(2	4(2	NUM
fsr-3774	248	43	)	)	PUNCT
fsr-3774	248	44	1995	1995	NUM
fsr-3774	248	45	where	where	SCONJ
fsr-3774	248	46	5.39	5.39	NUM
fsr-3774	248	47	is	be	AUX
fsr-3774	248	48	the	the	DET
fsr-3774	248	49	nyse	nyse	PROPN
fsr-3774	248	50	day	day	NOUN
fsr-3774	248	51	1	1	NUM
fsr-3774	248	52	trading	trading	NOUN
fsr-3774	248	53	volume	volume	NOUN
fsr-3774	248	54	proportion	proportion	NOUN
fsr-3774	248	55	.	.	PUNCT
fsr-3774	249	1	to	to	PART
fsr-3774	249	2	test	test	VERB
fsr-3774	249	3	the	the	DET
fsr-3774	249	4	significance	significance	NOUN
fsr-3774	249	5	of	of	ADP
fsr-3774	249	6	the	the	DET
fsr-3774	249	7	proportion	proportion	NOUN
fsr-3774	249	8	6.16	6.16	NUM
fsr-3774	249	9	for	for	ADP
fsr-3774	249	10	the	the	DET
fsr-3774	249	11	average	average	NOUN
fsr-3774	249	12	of	of	ADP
fsr-3774	249	13	100	100	NUM
fsr-3774	249	14	brokers	broker	NOUN
fsr-3774	249	15	for	for	ADP
fsr-3774	249	16	trading	trading	NOUN
fsr-3774	249	17	day	day	NOUN
fsr-3774	249	18	1	1	NUM
fsr-3774	249	19	in	in	ADP
fsr-3774	249	20	table	table	NOUN
fsr-3774	249	21	1	1	NUM
fsr-3774	249	22	,	,	PUNCT
fsr-3774	249	23	we	we	PRON
fsr-3774	249	24	can	can	AUX
fsr-3774	249	25	use	use	VERB
fsr-3774	249	26	the	the	DET
fsr-3774	249	27	test	test	NOUN
fsr-3774	249	28	:	:	PUNCT
fsr-3774	249	29	t	t	NOUN
fsr-3774	249	30	=	=	SYM
fsr-3774	249	31	(	(	PUNCT
fsr-3774	249	32	6.16	6.16	NUM
fsr-3774	249	33	5.39	5.39	NUM
fsr-3774	249	34	)	)	PUNCT
fsr-3774	249	35	/	/	PUNCT
fsr-3774	249	36	(	(	PUNCT
fsr-3774	249	37	1.29	1.29	NUM
fsr-3774	249	38	/	/	SYM
fsr-3774	249	39	a	a	NOUN
fsr-3774	249	40	)	)	PUNCT
fsr-3774	249	41	=	=	SYM
fsr-3774	249	42	2.93	2.93	NUM
fsr-3774	249	43	,	,	PUNCT
fsr-3774	249	44	rather	rather	ADV
fsr-3774	249	45	than	than	ADP
fsr-3774	249	46	:	:	PUNCT
fsr-3774	249	47	r=(6.16	r=(6.16	PROPN
fsr-3774	249	48	-	-	PUNCT
fsr-3774	249	49	5.26)/(1.29	5.26)/(1.29	PROPN
fsr-3774	249	50	/	/	SYM
fsr-3774	249	51	m)=3.42	m)=3.42	PROPN
fsr-3774	249	52	.	.	PUNCT
fsr-3774	250	1	the	the	DET
fsr-3774	250	2	new	new	ADJ
fsr-3774	250	3	tests	test	NOUN
fsr-3774	250	4	of	of	ADP
fsr-3774	250	5	significance	significance	NOUN
fsr-3774	250	6	for	for	ADP
fsr-3774	250	7	the	the	DET
fsr-3774	250	8	100	100	NUM
fsr-3774	250	9	brokers	broker	NOUN
fsr-3774	250	10	for	for	ADP
fsr-3774	250	11	the	the	DET
fsr-3774	250	12	last	last	ADJ
fsr-3774	250	13	2,3,4	2,3,4	NUM
fsr-3774	250	14	,	,	PUNCT
fsr-3774	250	15	and	and	CCONJ
fsr-3774	250	16	5	5	NUM
fsr-3774	250	17	trading	trading	NOUN
fsr-3774	250	18	days	day	NOUN
fsr-3774	250	19	would	would	AUX
fsr-3774	250	20	be	be	AUX
fsr-3774	250	21	:	:	PUNCT
fsr-3774	250	22	i	i	PRON
fsr-3774	250	23	=	=	SYM
fsr-3774	250	24	(	(	PUNCT
fsr-3774	250	25	11.88	11.88	NUM
fsr-3774	250	26	10.86)/	10.86)/	NOUN
fsr-3774	250	27	(	(	PUNCT
fsr-3774	250	28	1.93	1.93	NUM
fsr-3774	250	29	/	/	SYM
fsr-3774	250	30	a	a	NOUN
fsr-3774	250	31	)	)	PUNCT
fsr-3774	250	32	=	=	SYM
fsr-3774	250	33	2.60	2.60	NUM
fsr-3774	250	34	,	,	PUNCT
fsr-3774	250	35	t	t	NOUN
fsr-3774	250	36	=	=	SYM
fsr-3774	250	37	(	(	PUNCT
fsr-3774	250	38	17.54	17.54	NUM
fsr-3774	250	39	16.53)/(2.78	16.53)/(2.78	NUM
fsr-3774	250	40	/	/	SYM
fsr-3774	250	41	m	m	NOUN
fsr-3774	250	42	)	)	PUNCT
fsr-3774	250	43	=	=	SYM
fsr-3774	250	44	1.78	1.78	NUM
fsr-3774	250	45	,	,	PUNCT
fsr-3774	250	46	t	t	NOUN
fsr-3774	250	47	=	=	SYM
fsr-3774	250	48	(	(	PUNCT
fsr-3774	250	49	23.06	23.06	NUM
fsr-3774	250	50	-21.78)/(3.41	-21.78)/(3.41	NUM
fsr-3774	250	51	/	/	SYM
fsr-3774	250	52	a	a	NOUN
fsr-3774	250	53	)	)	PUNCT
fsr-3774	250	54	=	=	NOUN
fsr-3774	250	55	1.84	1.84	NUM
fsr-3774	250	56	,	,	PUNCT
fsr-3774	250	57	and	and	CCONJ
fsr-3774	250	58	t	t	X
fsr-3774	250	59	=	=	SYM
fsr-3774	250	60	(	(	PUNCT
fsr-3774	250	61	28.69	28.69	NUM
fsr-3774	250	62	27.33)/(4.15	27.33)/(4.15	NUM
fsr-3774	250	63	/	/	SYM
fsr-3774	250	64	m	m	NOUN
fsr-3774	250	65	)	)	PUNCT
fsr-3774	251	1	=	=	SYM
fsr-3774	251	2	1.61	1.61	NUM
fsr-3774	251	3	,	,	PUNCT
fsr-3774	251	4	respectively	respectively	ADV
fsr-3774	251	5	.	.	PUNCT
fsr-3774	252	1	these	these	DET
fsr-3774	252	2	t	t	NOUN
fsr-3774	252	3	-	-	PUNCT
fsr-3774	252	4	values	value	NOUN
fsr-3774	252	5	are	be	AUX
fsr-3774	252	6	significant	significant	ADJ
fsr-3774	252	7	at	at	ADP
fsr-3774	252	8	the	the	DET
fsr-3774	252	9	l%	l%	NOUN
fsr-3774	252	10	,	,	PUNCT
fsr-3774	252	11	5	5	NUM
fsr-3774	252	12	%	%	NOUN
fsr-3774	252	13	,	,	PUNCT
fsr-3774	252	14	4	4	NUM
fsr-3774	252	15	%	%	NOUN
fsr-3774	252	16	,	,	PUNCT
fsr-3774	252	17	and	and	CCONJ
fsr-3774	252	18	7	7	NUM
fsr-3774	252	19	%	%	NOUN
fsr-3774	252	20	levels	level	NOUN
fsr-3774	252	21	,	,	PUNCT
fsr-3774	252	22	respectively	respectively	ADV
fsr-3774	252	23	.	.	PUNCT
fsr-3774	253	1	overall	overall	ADV
fsr-3774	253	2	,	,	PUNCT
fsr-3774	253	3	the	the	DET
fsr-3774	253	4	statistical	statistical	ADJ
fsr-3774	253	5	significance	significance	NOUN
fsr-3774	253	6	of	of	ADP
fsr-3774	253	7	the	the	DET
fsr-3774	253	8	values	value	NOUN
fsr-3774	253	9	in	in	ADP
fsr-3774	253	10	table	table	NOUN
fsr-3774	253	11	1	1	NUM
fsr-3774	253	12	remains	remain	VERB
fsr-3774	253	13	very	very	ADV
fsr-3774	253	14	high	high	ADJ
fsr-3774	253	15	even	even	ADV
fsr-3774	253	16	when	when	SCONJ
fsr-3774	253	17	the	the	DET
fsr-3774	253	18	nyse	nyse	PROPN
fsr-3774	253	19	volume	volume	NOUN
fsr-3774	253	20	percentages	percentage	NOUN
fsr-3774	253	21	are	be	AUX
fsr-3774	253	22	used	use	VERB
fsr-3774	253	23	as	as	ADP
fsr-3774	253	24	the	the	DET
fsr-3774	253	25	expected	expect	VERB
fsr-3774	253	26	values	value	NOUN
fsr-3774	253	27	in	in	ADP
fsr-3774	253	28	the	the	DET
fsr-3774	253	29	t	t	NOUN
fsr-3774	253	30	-	-	PUNCT
fsr-3774	253	31	tests	test	NOUN
fsr-3774	253	32	.	.	PUNCT
fsr-3774	254	1	while	while	SCONJ
fsr-3774	254	2	29	29	NUM
fsr-3774	254	3	brokers	broker	NOUN
fsr-3774	254	4	had	have	VERB
fsr-3774	254	5	significantly	significantly	ADV
fsr-3774	254	6	higher	high	ADJ
fsr-3774	254	7	trading	trading	NOUN
fsr-3774	254	8	during	during	ADP
fsr-3774	254	9	the	the	DET
fsr-3774	254	10	final	final	ADJ
fsr-3774	254	11	week	week	NOUN
fsr-3774	254	12	,	,	PUNCT
fsr-3774	254	13	as	as	SCONJ
fsr-3774	254	14	shown	show	VERB
fsr-3774	254	15	in	in	ADP
fsr-3774	254	16	table	table	NOUN
fsr-3774	254	17	2	2	NUM
fsr-3774	254	18	,	,	PUNCT
fsr-3774	254	19	the	the	DET
fsr-3774	254	20	number	number	NOUN
fsr-3774	254	21	falls	fall	VERB
fsr-3774	254	22	to	to	ADP
fsr-3774	254	23	24	24	NUM
fsr-3774	254	24	when	when	SCONJ
fsr-3774	254	25	the	the	DET
fsr-3774	254	26	nyse	nyse	PROPN
fsr-3774	254	27	trading	trading	NOUN
fsr-3774	254	28	volume	volume	NOUN
fsr-3774	254	29	percentages	percentage	NOUN
fsr-3774	254	30	are	be	AUX
fsr-3774	254	31	used	use	VERB
fsr-3774	254	32	as	as	ADP
fsr-3774	254	33	the	the	DET
fsr-3774	254	34	expected	expect	VERB
fsr-3774	254	35	values	value	NOUN
fsr-3774	254	36	.	.	PUNCT
fsr-3774	255	1	thus	thus	ADV
fsr-3774	255	2	,	,	PUNCT
fsr-3774	255	3	nearly	nearly	ADV
fsr-3774	255	4	one	one	NUM
fsr-3774	255	5	-	-	PUNCT
fsr-3774	255	6	fourth	fourth	NOUN
fsr-3774	255	7	of	of	ADP
fsr-3774	255	8	the	the	DET
fsr-3774	255	9	entire	entire	ADJ
fsr-3774	255	10	sample	sample	NOUN
fsr-3774	255	11	of	of	ADP
fsr-3774	255	12	brokers	broker	NOUN
fsr-3774	255	13	still	still	ADV
fsr-3774	255	14	shows	show	VERB
fsr-3774	255	15	significantly	significantly	ADV
fsr-3774	255	16	higher	high	ADJ
fsr-3774	255	17	trading	trading	NOUN
fsr-3774	255	18	in	in	ADP
fsr-3774	255	19	the	the	DET
fsr-3774	255	20	last	last	ADJ
fsr-3774	255	21	week	week	NOUN
fsr-3774	255	22	of	of	ADP
fsr-3774	255	23	the	the	DET
fsr-3774	255	24	production	production	NOUN
fsr-3774	255	25	month	month	NOUN
fsr-3774	255	26	when	when	SCONJ
fsr-3774	255	27	this	this	DET
fsr-3774	255	28	more	more	ADV
fsr-3774	255	29	restrictive	restrictive	ADJ
fsr-3774	255	30	test	test	NOUN
fsr-3774	255	31	is	be	AUX
fsr-3774	255	32	used	use	VERB
fsr-3774	255	33	.	.	PUNCT
fsr-3774	255	34	’	'	PUNCT
fsr-3774	256	1	therefore	therefore	ADV
fsr-3774	256	2	,	,	PUNCT
fsr-3774	256	3	even	even	ADV
fsr-3774	256	4	when	when	SCONJ
fsr-3774	256	5	it	it	PRON
fsr-3774	256	6	is	be	AUX
fsr-3774	256	7	assumed	assume	VERB
fsr-3774	256	8	that	that	SCONJ
fsr-3774	256	9	the	the	DET
fsr-3774	256	10	general	general	ADJ
fsr-3774	256	11	level	level	NOUN
fsr-3774	256	12	of	of	ADP
fsr-3774	256	13	trading	trading	NOUN
fsr-3774	256	14	is	be	AUX
fsr-3774	256	15	not	not	PART
fsr-3774	256	16	uniform	uniform	ADJ
fsr-3774	256	17	across	across	ADP
fsr-3774	256	18	the	the	DET
fsr-3774	256	19	month	month	NOUN
fsr-3774	256	20	-	-	PUNCT
fsr-3774	256	21	as	as	ADP
fsr-3774	256	22	a	a	DET
fsr-3774	256	23	result	result	NOUN
fsr-3774	256	24	of	of	ADP
fsr-3774	256	25	uneven	uneven	ADJ
fsr-3774	256	26	information	information	NOUN
fsr-3774	256	27	flows	flow	NOUN
fsr-3774	256	28	or	or	CCONJ
fsr-3774	256	29	other	other	ADJ
fsr-3774	256	30	unexplained	unexplained	ADJ
fsr-3774	256	31	factors	factor	NOUN
fsr-3774	256	32	-	-	PUNCT
fsr-3774	256	33	commission	commission	NOUN
fsr-3774	256	34	-	-	PUNCT
fsr-3774	256	35	motivated	motivate	VERB
fsr-3774	256	36	trading	trading	NOUN
fsr-3774	256	37	seems	seem	VERB
fsr-3774	256	38	to	to	PART
fsr-3774	256	39	be	be	AUX
fsr-3774	256	40	taking	take	VERB
fsr-3774	256	41	place	place	NOUN
fsr-3774	256	42	.	.	PUNCT
fsr-3774	257	1	vii	vii	PROPN
fsr-3774	257	2	.	.	PROPN
fsr-3774	257	3	sukfmry	sukfmry	NOUN
fsr-3774	257	4	and	and	CCONJ
fsr-3774	257	5	implications	implication	NOUN
fsr-3774	257	6	this	this	DET
fsr-3774	257	7	paper	paper	NOUN
fsr-3774	257	8	provides	provide	VERB
fsr-3774	257	9	evidence	evidence	NOUN
fsr-3774	257	10	that	that	SCONJ
fsr-3774	257	11	some	some	DET
fsr-3774	257	12	individual	individual	ADJ
fsr-3774	257	13	brokers	broker	NOUN
fsr-3774	257	14	who	who	PRON
fsr-3774	257	15	work	work	VERB
fsr-3774	257	16	for	for	ADP
fsr-3774	257	17	a	a	DET
fsr-3774	257	18	national	national	ADJ
fsr-3774	257	19	brokerage	brokerage	NOUN
fsr-3774	257	20	firm	firm	NOUN
fsr-3774	257	21	earn	earn	VERB
fsr-3774	257	22	an	an	DET
fsr-3774	257	23	unusually	unusually	ADV
fsr-3774	257	24	high	high	ADJ
fsr-3774	257	25	proportion	proportion	NOUN
fsr-3774	257	26	of	of	ADP
fsr-3774	257	27	their	their	PRON
fsr-3774	257	28	stock	stock	NOUN
fsr-3774	257	29	commission	commission	NOUN
fsr-3774	257	30	income	income	NOUN
fsr-3774	257	31	in	in	ADP
fsr-3774	257	32	the	the	DET
fsr-3774	257	33	last	last	ADJ
fsr-3774	257	34	week	week	NOUN
fsr-3774	257	35	of	of	ADP
fsr-3774	257	36	the	the	DET
fsr-3774	257	37	production	production	NOUN
fsr-3774	257	38	month	month	NOUN
fsr-3774	257	39	.	.	PUNCT
fsr-3774	258	1	the	the	DET
fsr-3774	258	2	last	last	ADJ
fsr-3774	258	3	five	five	NUM
fsr-3774	258	4	days	day	NOUN
fsr-3774	258	5	of	of	ADP
fsr-3774	258	6	trading	trading	NOUN
fsr-3774	258	7	are	be	AUX
fsr-3774	258	8	characterized	characterize	VERB
fsr-3774	258	9	by	by	ADP
fsr-3774	258	10	an	an	DET
fsr-3774	258	11	unexpectedly	unexpectedly	ADV
fsr-3774	258	12	high	high	ADJ
fsr-3774	258	13	volume	volume	NOUN
fsr-3774	258	14	of	of	ADP
fsr-3774	258	15	trading	trading	NOUN
fsr-3774	258	16	by	by	ADP
fsr-3774	258	17	several	several	ADJ
fsr-3774	258	18	of	of	ADP
fsr-3774	258	19	the	the	DET
fsr-3774	258	20	individual	individual	ADJ
fsr-3774	258	21	brokers	broker	NOUN
fsr-3774	258	22	and	and	CCONJ
fsr-3774	258	23	for	for	SCONJ
fsr-3774	258	24	the	the	DET
fsr-3774	258	25	average	average	NOUN
fsr-3774	258	26	of	of	ADP
fsr-3774	258	27	all	all	DET
fsr-3774	258	28	brokers	broker	NOUN
fsr-3774	258	29	examined	examine	VERB
fsr-3774	258	30	.	.	PUNCT
fsr-3774	259	1	this	this	DET
fsr-3774	259	2	evidence	evidence	NOUN
fsr-3774	259	3	suggests	suggest	VERB
fsr-3774	259	4	that	that	SCONJ
fsr-3774	259	5	a	a	DET
fsr-3774	259	6	large	large	ADJ
fsr-3774	259	7	number	number	NOUN
fsr-3774	259	8	of	of	ADP
fsr-3774	259	9	the	the	DET
fsr-3774	259	10	brokers	broker	NOUN
fsr-3774	259	11	in	in	ADP
fsr-3774	259	12	our	our	PRON
fsr-3774	259	13	sample	sample	NOUN
fsr-3774	259	14	may	may	AUX
fsr-3774	259	15	be	be	AUX
fsr-3774	259	16	engaging	engage	VERB
fsr-3774	259	17	in	in	ADP
fsr-3774	259	18	“	"	PUNCT
fsr-3774	259	19	commission	commission	NOUN
fsr-3774	259	20	-	-	PUNCT
fsr-3774	259	21	motivated	motivate	VERB
fsr-3774	259	22	trading	trading	NOUN
fsr-3774	259	23	”	"	PUNCT
fsr-3774	259	24	in	in	ADP
fsr-3774	259	25	order	order	NOUN
fsr-3774	259	26	to	to	PART
fsr-3774	259	27	boost	boost	VERB
fsr-3774	259	28	their	their	PRON
fsr-3774	259	29	commis	commis	NOUN
fsr-3774	259	30	sion	sion	NOUN
fsr-3774	259	31	income	income	NOUN
fsr-3774	259	32	near	near	ADP
fsr-3774	259	33	the	the	DET
fsr-3774	259	34	end	end	NOUN
fsr-3774	259	35	of	of	ADP
fsr-3774	259	36	the	the	DET
fsr-3774	259	37	production	production	NOUN
fsr-3774	259	38	month	month	NOUN
fsr-3774	259	39	.	.	PUNCT
fsr-3774	260	1	one	one	NUM
fsr-3774	260	2	is	be	AUX
fsr-3774	260	3	led	lead	VERB
fsr-3774	260	4	to	to	PART
fsr-3774	260	5	wonder	wonder	VERB
fsr-3774	260	6	how	how	SCONJ
fsr-3774	260	7	widespread	widespread	ADJ
fsr-3774	260	8	this	this	DET
fsr-3774	260	9	practice	practice	NOUN
fsr-3774	260	10	may	may	AUX
fsr-3774	260	11	be	be	AUX
fsr-3774	260	12	.	.	PUNCT
fsr-3774	261	1	in	in	ADP
fsr-3774	261	2	our	our	PRON
fsr-3774	261	3	limited	limited	ADJ
fsr-3774	261	4	sample	sample	NOUN
fsr-3774	261	5	,	,	PUNCT
fsr-3774	261	6	we	we	PRON
fsr-3774	261	7	find	find	VERB
fsr-3774	261	8	that	that	SCONJ
fsr-3774	261	9	about	about	ADV
fsr-3774	261	10	one	one	NUM
fsr-3774	261	11	-	-	PUNCT
fsr-3774	261	12	fourth	fourth	NOUN
fsr-3774	261	13	of	of	ADP
fsr-3774	261	14	the	the	DET
fsr-3774	261	15	brokers	broker	NOUN
fsr-3774	261	16	traded	trade	VERB
fsr-3774	261	17	stocks	stock	NOUN
fsr-3774	261	18	for	for	ADP
fsr-3774	261	19	their	their	PRON
fsr-3774	261	20	clients	client	NOUN
fsr-3774	261	21	more	more	ADV
fsr-3774	261	22	actively	actively	ADV
fsr-3774	261	23	than	than	SCONJ
fsr-3774	261	24	expected	expect	VERB
fsr-3774	261	25	during	during	ADP
fsr-3774	261	26	the	the	DET
fsr-3774	261	27	last	last	ADJ
fsr-3774	261	28	week	week	NOUN
fsr-3774	261	29	of	of	ADP
fsr-3774	261	30	the	the	DET
fsr-3774	261	31	production	production	NOUN
fsr-3774	261	32	month	month	NOUN
fsr-3774	261	33	.	.	PUNCT
fsr-3774	262	1	seven	seven	NUM
fsr-3774	262	2	of	of	ADP
fsr-3774	262	3	the	the	DET
fsr-3774	262	4	100	100	NUM
fsr-3774	262	5	brokers	broker	NOUN
fsr-3774	262	6	showed	show	VERB
fsr-3774	262	7	particularly	particularly	ADV
fsr-3774	262	8	active	active	ADJ
fsr-3774	262	9	trading	trading	NOUN
fsr-3774	262	10	,	,	PUNCT
fsr-3774	262	11	with	with	ADP
fsr-3774	262	12	more	more	ADJ
fsr-3774	262	13	than	than	ADP
fsr-3774	262	14	40	40	NUM
fsr-3774	262	15	%	%	NOUN
fsr-3774	262	16	of	of	ADP
fsr-3774	262	17	their	their	PRON
fsr-3774	262	18	monthly	monthly	ADJ
fsr-3774	262	19	commissions	commission	NOUN
fsr-3774	262	20	being	be	AUX
fsr-3774	262	21	earned	earn	VERB
fsr-3774	262	22	in	in	ADP
fsr-3774	262	23	the	the	DET
fsr-3774	262	24	last	last	ADJ
fsr-3774	262	25	week	week	NOUN
fsr-3774	262	26	of	of	ADP
fsr-3774	262	27	trading	trading	NOUN
fsr-3774	262	28	.	.	PUNCT
fsr-3774	263	1	the	the	DET
fsr-3774	263	2	broker	broker	PROPN
fsr-3774	263	3	behavior	behavior	NOUN
fsr-3774	263	4	that	that	PRON
fsr-3774	263	5	has	have	AUX
fsr-3774	263	6	been	be	AUX
fsr-3774	263	7	observed	observe	VERB
fsr-3774	263	8	in	in	ADP
fsr-3774	263	9	this	this	DET
fsr-3774	263	10	paper	paper	NOUN
fsr-3774	263	11	by	by	ADP
fsr-3774	263	12	looking	look	VERB
fsr-3774	263	13	at	at	ADP
fsr-3774	263	14	a	a	DET
fsr-3774	263	15	single	single	ADJ
fsr-3774	263	16	national	national	ADJ
fsr-3774	263	17	brokerage	brokerage	NOUN
fsr-3774	263	18	firm	firm	NOUN
fsr-3774	263	19	may	may	AUX
fsr-3774	263	20	be	be	AUX
fsr-3774	263	21	very	very	ADV
fsr-3774	263	22	widespread	widespread	ADJ
fsr-3774	263	23	.	.	PUNCT
fsr-3774	264	1	because	because	SCONJ
fsr-3774	264	2	most	most	ADJ
fsr-3774	264	3	national	national	ADJ
fsr-3774	264	4	brokerage	brokerage	NOUN
fsr-3774	264	5	firms	firm	NOUN
fsr-3774	264	6	have	have	VERB
fsr-3774	264	7	a	a	DET
fsr-3774	264	8	commission	commission	NOUN
fsr-3774	264	9	payment	payment	NOUN
fsr-3774	264	10	system	system	NOUN
fsr-3774	264	11	that	that	PRON
fsr-3774	264	12	is	be	AUX
fsr-3774	264	13	similar	similar	ADJ
fsr-3774	264	14	to	to	ADP
fsr-3774	264	15	that	that	PRON
fsr-3774	264	16	of	of	ADP
fsr-3774	264	17	the	the	DET
fsr-3774	264	18	firm	firm	NOUN
fsr-3774	264	19	in	in	ADP
fsr-3774	264	20	this	this	DET
fsr-3774	264	21	study	study	NOUN
fsr-3774	264	22	,	,	PUNCT
fsr-3774	264	23	other	other	ADJ
fsr-3774	264	24	brokers	broker	NOUN
fsr-3774	264	25	may	may	AUX
fsr-3774	264	26	be	be	AUX
fsr-3774	264	27	behaving	behave	VERB
fsr-3774	264	28	very	very	ADV
fsr-3774	264	29	much	much	ADV
fsr-3774	264	30	like	like	ADP
fsr-3774	264	31	the	the	DET
fsr-3774	264	32	29	29	NUM
fsr-3774	264	33	brokers	broker	NOUN
fsr-3774	264	34	shown	show	VERB
fsr-3774	264	35	in	in	ADP
fsr-3774	264	36	table	table	NOUN
fsr-3774	264	37	2	2	NUM
fsr-3774	264	38	.	.	PUNCT
fsr-3774	265	1	if	if	SCONJ
fsr-3774	265	2	about	about	ADV
fsr-3774	265	3	one	one	NUM
fsr-3774	265	4	-	-	PUNCT
fsr-3774	265	5	fourth	fourth	NOUN
fsr-3774	265	6	of	of	ADP
fsr-3774	265	7	the	the	DET
fsr-3774	265	8	brokers	broker	NOUN
fsr-3774	265	9	in	in	ADP
fsr-3774	265	10	one	one	NUM
fsr-3774	265	11	brokerage	brokerage	NOUN
fsr-3774	265	12	firm	firm	NOUN
fsr-3774	265	13	are	be	AUX
fsr-3774	265	14	encouraging	encourage	VERB
fsr-3774	265	15	individual	individual	ADJ
fsr-3774	265	16	investors	investor	NOUN
fsr-3774	265	17	to	to	PART
fsr-3774	265	18	engage	engage	VERB
fsr-3774	265	19	in	in	ADP
fsr-3774	265	20	what	what	PRON
fsr-3774	265	21	may	may	AUX
fsr-3774	265	22	be	be	AUX
fsr-3774	265	23	viewed	view	VERB
fsr-3774	265	24	as	as	ADP
fsr-3774	265	25	“	"	PUNCT
fsr-3774	265	26	unnecessary	unnecessary	ADJ
fsr-3774	265	27	”	"	PUNCT
fsr-3774	265	28	trading	trading	NOUN
fsr-3774	265	29	near	near	ADP
fsr-3774	265	30	the	the	DET
fsr-3774	265	31	end	end	NOUN
fsr-3774	265	32	of	of	ADP
fsr-3774	265	33	the	the	DET
fsr-3774	265	34	pr	pr	NOUN
fsr-3774	265	35	~	~	NOUN
fsr-3774	265	36	uction	uction	NOUN
fsr-3774	265	37	month	month	NOUN
fsr-3774	265	38	,	,	PUNCT
fsr-3774	265	39	how	how	SCONJ
fsr-3774	265	40	many	many	ADJ
fsr-3774	265	41	more	more	ADJ
fsr-3774	265	42	brokers	broker	NOUN
fsr-3774	265	43	across	across	ADP
fsr-3774	265	44	the	the	DET
fsr-3774	265	45	nation	nation	NOUN
fsr-3774	265	46	are	be	AUX
fsr-3774	265	47	engaging	engage	VERB
fsr-3774	265	48	in	in	ADP
fsr-3774	265	49	the	the	DET
fsr-3774	265	50	same	same	ADJ
fsr-3774	265	51	practices	practice	NOUN
fsr-3774	265	52	as	as	SCONJ
fsr-3774	265	53	they	they	PRON
fsr-3774	265	54	try	try	VERB
fsr-3774	265	55	to	to	PART
fsr-3774	265	56	meet	meet	VERB
fsr-3774	265	57	their	their	PRON
fsr-3774	265	58	commission	commission	NOUN
fsr-3774	265	59	quotas	quota	NOUN
fsr-3774	265	60	?	?	PUNCT
fsr-3774	266	1	our	our	PRON
fsr-3774	266	2	discussions	discussion	NOUN
fsr-3774	266	3	with	with	ADP
fsr-3774	266	4	brokers	broker	NOUN
fsr-3774	266	5	across	across	ADP
fsr-3774	266	6	the	the	DET
fsr-3774	266	7	country	country	NOUN
fsr-3774	266	8	suggest	suggest	VERB
fsr-3774	266	9	that	that	SCONJ
fsr-3774	266	10	this	this	PRON
fsr-3774	266	11	is	be	AUX
fsr-3774	266	12	widespread	widespread	ADJ
fsr-3774	266	13	and	and	CCONJ
fsr-3774	266	14	is	be	AUX
fsr-3774	266	15	a	a	DET
fsr-3774	266	16	natural	natural	ADJ
fsr-3774	266	17	occurrence	occurrence	NOUN
fsr-3774	266	18	,	,	PUNCT
fsr-3774	266	19	given	give	VERB
fsr-3774	266	20	the	the	DET
fsr-3774	266	21	commission	commission	NOUN
fsr-3774	266	22	system	system	NOUN
fsr-3774	266	23	and	and	CCONJ
fsr-3774	266	24	the	the	DET
fsr-3774	266	25	tendency	tendency	NOUN
fsr-3774	266	26	of	of	ADP
fsr-3774	266	27	many	many	ADJ
fsr-3774	266	28	individuals	individual	NOUN
fsr-3774	266	29	to	to	PART
fsr-3774	266	30	procrastinate	procrastinate	VERB
fsr-3774	266	31	.	.	PUNCT
fsr-3774	266	32	’	'	PUNCT
fsr-3774	267	1	because	because	SCONJ
fsr-3774	267	2	we	we	PRON
fsr-3774	267	3	have	have	AUX
fsr-3774	267	4	looked	look	VERB
fsr-3774	267	5	at	at	ADP
fsr-3774	267	6	a	a	DET
fsr-3774	267	7	sample	sample	NOUN
fsr-3774	267	8	from	from	ADP
fsr-3774	267	9	only	only	ADV
fsr-3774	267	10	one	one	NUM
fsr-3774	267	11	national	national	ADJ
fsr-3774	267	12	brokerage	brokerage	NOUN
fsr-3774	267	13	firm	firm	NOUN
fsr-3774	267	14	,	,	PUNCT
fsr-3774	267	15	it	it	PRON
fsr-3774	267	16	is	be	AUX
fsr-3774	267	17	impossible	impossible	ADJ
fsr-3774	267	18	for	for	SCONJ
fsr-3774	267	19	us	we	PRON
fsr-3774	267	20	to	to	PART
fsr-3774	267	21	draw	draw	VERB
fsr-3774	267	22	general	general	ADJ
fsr-3774	267	23	conclusions	conclusion	NOUN
fsr-3774	267	24	.	.	PUNCT
fsr-3774	268	1	however	however	ADV
fsr-3774	268	2	,	,	PUNCT
fsr-3774	268	3	the	the	DET
fsr-3774	268	4	implications	implication	NOUN
fsr-3774	268	5	of	of	ADP
fsr-3774	268	6	the	the	DET
fsr-3774	268	7	study	study	NOUN
fsr-3774	268	8	are	be	AUX
fsr-3774	268	9	clear	clear	ADJ
fsr-3774	268	10	,	,	PUNCT
fsr-3774	268	11	and	and	CCONJ
fsr-3774	268	12	only	only	ADV
fsr-3774	268	13	further	further	ADJ
fsr-3774	268	14	research	research	NOUN
fsr-3774	268	15	can	can	AUX
fsr-3774	268	16	suggest	suggest	VERB
fsr-3774	268	17	how	how	SCONJ
fsr-3774	268	18	widespread	widespread	ADJ
fsr-3774	268	19	this	this	DET
fsr-3774	268	20	pattern	pattern	NOUN
fsr-3774	268	21	of	of	ADP
fsr-3774	268	22	commission	commission	NOUN
fsr-3774	268	23	motivated	motivated	ADJ
fsr-3774	268	24	trading	trading	NOUN
fsr-3774	268	25	may	may	AUX
fsr-3774	268	26	be	be	AUX
fsr-3774	268	27	.	.	PUNCT
fsr-3774	269	1	the	the	DET
fsr-3774	269	2	findings	finding	NOUN
fsr-3774	269	3	in	in	ADP
fsr-3774	269	4	this	this	DET
fsr-3774	269	5	paper	paper	NOUN
fsr-3774	269	6	have	have	VERB
fsr-3774	269	7	implications	implication	NOUN
fsr-3774	269	8	for	for	ADP
fsr-3774	269	9	brokerage	brokerage	NOUN
fsr-3774	269	10	firms	firm	NOUN
fsr-3774	269	11	,	,	PUNCT
fsr-3774	269	12	their	their	PRON
fsr-3774	269	13	clients	client	NOUN
fsr-3774	269	14	,	,	PUNCT
fsr-3774	269	15	and	and	CCONJ
fsr-3774	269	16	financial	financial	ADJ
fsr-3774	269	17	markets	market	NOUN
fsr-3774	269	18	.	.	PUNCT
fsr-3774	270	1	for	for	ADP
fsr-3774	270	2	brokerage	brokerage	NOUN
fsr-3774	270	3	firms	firm	NOUN
fsr-3774	270	4	,	,	PUNCT
fsr-3774	270	5	these	these	DET
fsr-3774	270	6	trading	trading	NOUN
fsr-3774	270	7	patterns	pattern	NOUN
fsr-3774	270	8	could	could	AUX
fsr-3774	270	9	affect	affect	VERB
fsr-3774	270	10	their	their	PRON
fsr-3774	270	11	profitability	profitability	NOUN
fsr-3774	270	12	to	to	ADP
fsr-3774	270	13	the	the	DET
fsr-3774	270	14	extent	extent	NOUN
fsr-3774	270	15	that	that	PRON
fsr-3774	270	16	rather	rather	ADV
fsr-3774	270	17	than	than	ADP
fsr-3774	270	18	having	have	VERB
fsr-3774	270	19	a	a	DET
fsr-3774	270	20	relatively	relatively	ADV
fsr-3774	270	21	smooth	smooth	ADJ
fsr-3774	270	22	flow	flow	NOUN
fsr-3774	270	23	of	of	ADP
fsr-3774	270	24	orders	order	NOUN
fsr-3774	270	25	across	across	ADP
fsr-3774	270	26	the	the	DET
fsr-3774	270	27	month	month	NOUN
fsr-3774	270	28	,	,	PUNCT
fsr-3774	270	29	they	they	PRON
fsr-3774	270	30	have	have	VERB
fsr-3774	270	31	a	a	DET
fsr-3774	270	32	more	more	ADV
fsr-3774	270	33	uneven	uneven	ADJ
fsr-3774	270	34	flow	flow	NOUN
fsr-3774	270	35	.	.	PUNCT
fsr-3774	271	1	the	the	DET
fsr-3774	271	2	brokerage	brokerage	NOUN
fsr-3774	271	3	firms	firm	NOUN
fsr-3774	271	4	may	may	AUX
fsr-3774	271	5	also	also	ADV
fsr-3774	271	6	be	be	AUX
fsr-3774	271	7	concerned	concern	VERB
fsr-3774	271	8	about	about	ADP
fsr-3774	271	9	those	those	DET
fsr-3774	271	10	ciients	ciient	NOUN
fsr-3774	271	11	who	who	PRON
fsr-3774	271	12	may	may	AUX
fsr-3774	271	13	be	be	AUX
fsr-3774	271	14	pressured	pressure	VERB
fsr-3774	271	15	into	into	ADP
fsr-3774	271	16	unnecessary	unnecessary	ADJ
fsr-3774	271	17	trades	trade	NOUN
fsr-3774	271	18	by	by	ADP
fsr-3774	271	19	brokers	broker	NOUN
fsr-3774	271	20	who	who	PRON
fsr-3774	271	21	arc	arc	AUX
fsr-3774	271	22	trying	try	VERB
fsr-3774	271	23	to	to	PART
fsr-3774	271	24	meet	meet	VERB
fsr-3774	271	25	their	their	PRON
fsr-3774	271	26	quotas	quota	NOUN
fsr-3774	271	27	at	at	ADP
fsr-3774	271	28	the	the	DET
fsr-3774	271	29	end	end	NOUN
fsr-3774	271	30	of	of	ADP
fsr-3774	271	31	the	the	DET
fsr-3774	271	32	month	month	NOUN
fsr-3774	271	33	.	.	PUNCT
fsr-3774	272	1	in	in	ADP
fsr-3774	272	2	light	light	NOUN
fsr-3774	272	3	of	of	ADP
fsr-3774	272	4	the	the	DET
fsr-3774	272	5	findings	finding	NOUN
fsr-3774	272	6	,	,	PUNCT
fsr-3774	272	7	brokerage	brokerage	NOUN
fsr-3774	272	8	firms	firm	NOUN
fsr-3774	272	9	may	may	AUX
fsr-3774	272	10	wish	wish	VERB
fsr-3774	272	11	to	to	PART
fsr-3774	272	12	change	change	VERB
fsr-3774	272	13	the	the	DET
fsr-3774	272	14	frequency	frequency	NOUN
fsr-3774	272	15	of	of	ADP
fsr-3774	272	16	their	their	PRON
fsr-3774	272	17	evaluation	evaluation	NOUN
fsr-3774	272	18	of	of	ADP
fsr-3774	272	19	broker	broker	PROPN
fsr-3774	272	20	commission	commission	PROPN
fsr-3774	272	21	production	production	NOUN
fsr-3774	272	22	from	from	ADP
fsr-3774	272	23	monthly	monthly	ADJ
fsr-3774	272	24	to	to	ADP
fsr-3774	272	25	weekly	weekly	ADJ
fsr-3774	272	26	or	or	CCONJ
fsr-3774	272	27	biweekly	biweekly	NOUN
fsr-3774	272	28	.	.	PUNCT
fsr-3774	273	1	the	the	DET
fsr-3774	273	2	implications	implication	NOUN
fsr-3774	273	3	are	be	AUX
fsr-3774	273	4	clear	clear	ADJ
fsr-3774	273	5	for	for	ADP
fsr-3774	273	6	individual	individual	ADJ
fsr-3774	273	7	investors	investor	NOUN
fsr-3774	273	8	(	(	PUNCT
fsr-3774	273	9	and	and	CCONJ
fsr-3774	273	10	the	the	DET
fsr-3774	273	11	clients	client	NOUN
fsr-3774	273	12	of	of	ADP
fsr-3774	273	13	other	other	ADJ
fsr-3774	273	14	providers	provider	NOUN
fsr-3774	273	15	of	of	ADP
fsr-3774	273	16	financial	financial	ADJ
fsr-3774	273	17	services	service	NOUN
fsr-3774	273	18	where	where	SCONJ
fsr-3774	273	19	the	the	DET
fsr-3774	273	20	sales	sale	NOUN
fsr-3774	273	21	force	force	NOUN
fsr-3774	273	22	is	be	AUX
fsr-3774	273	23	paid	pay	VERB
fsr-3774	273	24	on	on	ADP
fsr-3774	273	25	a	a	DET
fsr-3774	273	26	commission	commission	NOUN
fsr-3774	273	27	basis	basis	NOUN
fsr-3774	273	28	)	)	PUNCT
fsr-3774	273	29	.	.	PUNCT
fsr-3774	274	1	the	the	PRON
fsr-3774	274	2	closer	close	ADV
fsr-3774	274	3	it	it	PRON
fsr-3774	274	4	gets	get	VERB
fsr-3774	274	5	to	to	ADP
fsr-3774	274	6	the	the	DET
fsr-3774	274	7	end	end	NOUN
fsr-3774	274	8	of	of	ADP
fsr-3774	274	9	the	the	DET
fsr-3774	274	10	production	production	NOUN
fsr-3774	274	11	month	month	NOUN
fsr-3774	274	12	,	,	PUNCT
fsr-3774	274	13	the	the	DET
fsr-3774	274	14	more	more	ADV
fsr-3774	274	15	wary	wary	ADJ
fsr-3774	274	16	investors	investor	NOUN
fsr-3774	274	17	should	should	AUX
fsr-3774	274	18	be	be	AUX
fsr-3774	274	19	about	about	ADP
fsr-3774	274	20	the	the	DET
fsr-3774	274	21	advice	advice	NOUN
fsr-3774	274	22	they	they	PRON
fsr-3774	274	23	receive	receive	VERB
fsr-3774	274	24	from	from	ADP
fsr-3774	274	25	their	their	PRON
fsr-3774	274	26	broker	broker	NOUN
fsr-3774	274	27	.	.	PUNCT
fsr-3774	275	1	while	while	SCONJ
fsr-3774	275	2	the	the	DET
fsr-3774	275	3	broker	broker	NOUN
fsr-3774	275	4	trading	trading	NOUN
fsr-3774	275	5	patterns	pattern	NOUN
fsr-3774	275	6	identified	identify	VERB
fsr-3774	275	7	in	in	ADP
fsr-3774	275	8	this	this	DET
fsr-3774	275	9	paper	paper	NOUN
fsr-3774	275	10	can	can	AUX
fsr-3774	275	11	not	not	PART
fsr-3774	275	12	be	be	AUX
fsr-3774	275	13	defined	define	VERB
fsr-3774	275	14	as	as	ADP
fsr-3774	275	15	“	"	PUNCT
fsr-3774	275	16	churning	churn	VERB
fsr-3774	275	17	,	,	PUNCT
fsr-3774	275	18	”	"	PUNCT
fsr-3774	275	19	the	the	DET
fsr-3774	275	20	behavior	behavior	NOUN
fsr-3774	275	21	leads	lead	VERB
fsr-3774	275	22	to	to	ADP
fsr-3774	275	23	similar	similar	ADJ
fsr-3774	275	24	results	result	NOUN
fsr-3774	275	25	-	-	PUNCT
fsr-3774	275	26	that	that	ADV
fsr-3774	275	27	is	be	AUX
fsr-3774	275	28	,	,	PUNCT
fsr-3774	275	29	a	a	DET
fsr-3774	275	30	high	high	ADJ
fsr-3774	275	31	level	level	NOUN
fsr-3774	275	32	of	of	ADP
fsr-3774	275	33	unnecessary	unnecessary	ADJ
fsr-3774	275	34	trading	trading	NOUN
fsr-3774	275	35	done	do	VERB
fsr-3774	275	36	to	to	PART
fsr-3774	275	37	generate	generate	VERB
fsr-3774	275	38	higher	high	ADJ
fsr-3774	275	39	commissions	commission	NOUN
fsr-3774	275	40	for	for	ADP
fsr-3774	275	41	brokers	broker	NOUN
fsr-3774	275	42	.	.	PUNCT
fsr-3774	275	43	’	'	PUNCT
fsr-3774	276	1	the	the	DET
fsr-3774	276	2	clients	client	NOUN
fsr-3774	276	3	of	of	ADP
fsr-3774	276	4	brokers	broker	NOUN
fsr-3774	276	5	who	who	PRON
fsr-3774	276	6	have	have	VERB
fsr-3774	276	7	this	this	DET
fsr-3774	276	8	tendency	tendency	NOUN
fsr-3774	276	9	may	may	AUX
fsr-3774	276	10	be	be	AUX
fsr-3774	276	11	un	un	ADJ
fsr-3774	276	12	~	~	VERB
fsr-3774	276	13	owing	owe	VERB
fsr-3774	276	14	~ctims	~ctim	NOUN
fsr-3774	276	15	.	.	PUNCT
fsr-3774	276	16	”	"	PUNCT
fsr-3774	277	1	for	for	ADP
fsr-3774	277	2	financial	financial	ADJ
fsr-3774	277	3	markets	market	NOUN
fsr-3774	277	4	,	,	PUNCT
fsr-3774	277	5	this	this	DET
fsr-3774	277	6	research	research	NOUN
fsr-3774	277	7	may	may	AUX
fsr-3774	277	8	also	also	ADV
fsr-3774	277	9	be	be	AUX
fsr-3774	277	10	instructive	instructive	ADJ
fsr-3774	277	11	.	.	PUNCT
fsr-3774	278	1	many	many	ADJ
fsr-3774	278	2	financial	financial	ADJ
fsr-3774	278	3	products	product	NOUN
fsr-3774	278	4	are	be	AUX
fsr-3774	278	5	sold	sell	VERB
fsr-3774	278	6	using	use	VERB
fsr-3774	278	7	a	a	DET
fsr-3774	278	8	commission	commission	NOUN
fsr-3774	278	9	-	-	PUNCT
fsr-3774	278	10	paid	pay	VERB
fsr-3774	278	11	sales	sale	NOUN
fsr-3774	278	12	force	force	NOUN
fsr-3774	278	13	.	.	PUNCT
fsr-3774	279	1	if	if	SCONJ
fsr-3774	279	2	this	this	DET
fsr-3774	279	3	system	system	NOUN
fsr-3774	279	4	of	of	ADP
fsr-3774	279	5	pay	pay	NOUN
fsr-3774	279	6	distorts	distort	VERB
fsr-3774	279	7	the	the	DET
fsr-3774	279	8	trading	trading	NOUN
fsr-3774	279	9	pattern	pattern	NOUN
fsr-3774	279	10	of	of	ADP
fsr-3774	279	11	financial	financial	ADJ
fsr-3774	279	12	assets	asset	NOUN
fsr-3774	279	13	or	or	CCONJ
fsr-3774	279	14	leads	lead	VERB
fsr-3774	279	15	to	to	ADP
fsr-3774	279	16	more	more	ADV
fsr-3774	279	17	costly	costly	ADJ
fsr-3774	279	18	trading	trading	NOUN
fsr-3774	279	19	,	,	PUNCT
fsr-3774	279	20	it	it	PRON
fsr-3774	279	21	has	have	VERB
fsr-3774	279	22	implications	implication	NOUN
fsr-3774	279	23	for	for	ADP
fsr-3774	279	24	the	the	DET
fsr-3774	279	25	internal	internal	ADJ
fsr-3774	279	26	efficiency	efficiency	NOUN
fsr-3774	279	27	of	of	ADP
fsr-3774	279	28	the	the	DET
fsr-3774	279	29	financial	financial	ADJ
fsr-3774	279	30	markets	market	NOUN
fsr-3774	279	31	and	and	CCONJ
fsr-3774	279	32	how	how	SCONJ
fsr-3774	279	33	these	these	DET
fsr-3774	279	34	markets	market	NOUN
fsr-3774	279	35	may	may	AUX
fsr-3774	279	36	best	well	ADV
fsr-3774	279	37	serve	serve	VERB
fsr-3774	279	38	the	the	DET
fsr-3774	279	39	needs	need	NOUN
fsr-3774	279	40	of	of	ADP
fsr-3774	279	41	both	both	CCONJ
fsr-3774	279	42	the	the	DET
fsr-3774	279	43	suppliers	supplier	NOUN
fsr-3774	279	44	and	and	CCONJ
fsr-3774	279	45	demanders	demander	NOUN
fsr-3774	279	46	of	of	ADP
fsr-3774	279	47	capital	capital	NOUN
fsr-3774	279	48	.	.	PUNCT
fsr-3774	280	1	the	the	DET
fsr-3774	280	2	regulators	regulator	NOUN
fsr-3774	280	3	of	of	ADP
fsr-3774	280	4	these	these	DET
fsr-3774	280	5	markets	market	NOUN
fsr-3774	280	6	may	may	AUX
fsr-3774	280	7	have	have	VERB
fsr-3774	280	8	a	a	DET
fsr-3774	280	9	particular	particular	ADJ
fsr-3774	280	10	interest	interest	NOUN
fsr-3774	280	11	in	in	ADP
fsr-3774	280	12	“	"	PUNCT
fsr-3774	280	13	protecting	protect	VERB
fsr-3774	280	14	”	"	PUNCT
fsr-3774	280	15	unwary	unwary	ADJ
fsr-3774	280	16	investors	investor	NOUN
fsr-3774	280	17	from	from	ADP
fsr-3774	280	18	unnecessary	unnecessary	ADJ
fsr-3774	280	19	trading	trading	NOUN
fsr-3774	280	20	and	and	CCONJ
fsr-3774	280	21	in	in	ADP
fsr-3774	280	22	lessening	lessen	VERB
fsr-3774	280	23	distor	distor	NOUN
fsr-3774	280	24	tions	tion	NOUN
fsr-3774	280	25	in	in	ADP
fsr-3774	280	26	the	the	DET
fsr-3774	280	27	pattern	pattern	NOUN
fsr-3774	280	28	of	of	ADP
fsr-3774	280	29	trading	trading	NOUN
fsr-3774	280	30	.	.	PUNCT
fsr-3774	281	1	notes	note	VERB
fsr-3774	281	2	1	1	NUM
fsr-3774	281	3	.	.	PUNCT
fsr-3774	282	1	it	it	PRON
fsr-3774	282	2	was	be	AUX
fsr-3774	282	3	suggested	suggest	VERB
fsr-3774	282	4	to	to	ADP
fsr-3774	282	5	the	the	DET
fsr-3774	282	6	authors	author	NOUN
fsr-3774	282	7	that	that	PRON
fsr-3774	282	8	a	a	DET
fsr-3774	282	9	large	large	ADJ
fsr-3774	282	10	segment	segment	NOUN
fsr-3774	282	11	of	of	ADP
fsr-3774	282	12	wage	wage	NOUN
fsr-3774	282	13	earners	earner	NOUN
fsr-3774	282	14	may	may	AUX
fsr-3774	282	15	be	be	AUX
fsr-3774	282	16	paid	pay	VERB
fsr-3774	282	17	at	at	ADP
fsr-3774	282	18	the	the	DET
fsr-3774	282	19	end	end	NOUN
fsr-3774	282	20	of	of	ADP
fsr-3774	282	21	the	the	DET
fsr-3774	282	22	month	month	NOUN
fsr-3774	282	23	and	and	CCONJ
fsr-3774	282	24	that	that	SCONJ
fsr-3774	282	25	the	the	DET
fsr-3774	282	26	flow	flow	NOUN
fsr-3774	282	27	of	of	ADP
fsr-3774	282	28	funds	fund	NOUN
fsr-3774	282	29	into	into	ADP
fsr-3774	282	30	institutions	institution	NOUN
fsr-3774	282	31	such	such	ADJ
fsr-3774	282	32	as	as	ADP
fsr-3774	282	33	pension	pension	NOUN
fsr-3774	282	34	funds	fund	NOUN
fsr-3774	282	35	may	may	AUX
fsr-3774	282	36	be	be	AUX
fsr-3774	282	37	higher	high	ADJ
fsr-3774	282	38	at	at	ADP
fsr-3774	282	39	month	month	NOUN
fsr-3774	282	40	-	-	PUNCT
fsr-3774	282	41	end	end	NOUN
fsr-3774	282	42	.	.	PUNCT
fsr-3774	283	1	while	while	SCONJ
fsr-3774	283	2	this	this	PRON
fsr-3774	283	3	may	may	AUX
fsr-3774	283	4	he	he	PRON
fsr-3774	283	5	true	true	ADJ
fsr-3774	283	6	,	,	PUNCT
fsr-3774	283	7	funds	fund	NOUN
fsr-3774	283	8	do	do	AUX
fsr-3774	283	9	not	not	PART
fsr-3774	283	10	immediately	immediately	ADV
fsr-3774	283	11	flow	flow	VERB
fsr-3774	283	12	through	through	ADP
fsr-3774	283	13	the	the	DET
fsr-3774	283	14	hands	hand	NOUN
fsr-3774	283	15	of	of	ADP
fsr-3774	283	16	investors	investor	NOUN
fsr-3774	283	17	directly	directly	ADV
fsr-3774	283	18	into	into	ADP
fsr-3774	283	19	the	the	DET
fsr-3774	283	20	stock	stock	NOUN
fsr-3774	283	21	market	market	NOUN
fsr-3774	283	22	.	.	PUNCT
fsr-3774	284	1	investors	investor	NOUN
fsr-3774	284	2	temporarily	temporarily	ADV
fsr-3774	284	3	place	place	VERB
fsr-3774	284	4	funds	fund	NOUN
fsr-3774	284	5	into	into	ADP
fsr-3774	284	6	checking	check	VERB
fsr-3774	284	7	accounts	account	NOUN
fsr-3774	284	8	,	,	PUNCT
fsr-3774	284	9	money	money	NOUN
fsr-3774	284	10	funds	fund	NOUN
fsr-3774	284	11	,	,	PUNCT
fsr-3774	284	12	and	and	CCONJ
fsr-3774	284	13	other	other	ADJ
fsr-3774	284	14	idle	idle	ADJ
fsr-3774	284	15	balances	balance	NOUN
fsr-3774	284	16	,	,	PUNCT
fsr-3774	284	17	and	and	CCONJ
fsr-3774	284	18	then	then	ADV
fsr-3774	284	19	move	move	VERB
fsr-3774	284	20	the	the	DET
fsr-3774	284	21	funds	fund	NOUN
fsr-3774	284	22	into	into	ADP
fsr-3774	284	23	stocks	stock	NOUN
fsr-3774	284	24	at	at	ADP
fsr-3774	284	25	varying	vary	VERB
fsr-3774	284	26	intervals	interval	NOUN
fsr-3774	284	27	over	over	ADP
fsr-3774	284	28	the	the	DET
fsr-3774	284	29	coming	come	VERB
fsr-3774	284	30	month(s	month(s	NOUN
fsr-3774	284	31	)	)	PUNCT
fsr-3774	284	32	.	.	PUNCT
fsr-3774	285	1	further	far	ADV
fsr-3774	285	2	,	,	PUNCT
fsr-3774	285	3	the	the	DET
fsr-3774	285	4	date	date	NOUN
fsr-3774	285	5	of	of	ADP
fsr-3774	285	6	pay	pay	NOUN
fsr-3774	285	7	from	from	ADP
fsr-3774	285	8	one	one	NUM
fsr-3774	285	9	employer	employer	NOUN
fsr-3774	285	10	to	to	ADP
fsr-3774	285	11	another	another	PRON
fsr-3774	285	12	is	be	AUX
fsr-3774	285	13	not	not	PART
fsr-3774	285	14	unifo~	unifo~	PROPN
fsr-3774	285	15	across	across	ADP
fsr-3774	285	16	the	the	DET
fsr-3774	285	17	month	month	NOUN
fsr-3774	285	18	,	,	PUNCT
fsr-3774	285	19	with	with	ADP
fsr-3774	285	20	a	a	DET
fsr-3774	285	21	variety	variety	NOUN
fsr-3774	285	22	of	of	ADP
fsr-3774	285	23	pay	pay	NOUN
fsr-3774	285	24	schedules	schedule	NOUN
fsr-3774	285	25	being	be	AUX
fsr-3774	285	26	foliowed	foliowe	VERB
fsr-3774	285	27	.	.	PUNCT
fsr-3774	286	1	the	the	DET
fsr-3774	286	2	flow	flow	NOUN
fsr-3774	286	3	of	of	ADP
fsr-3774	286	4	investable	investable	ADJ
fsr-3774	286	5	funds	fund	NOUN
fsr-3774	286	6	to	to	ADP
fsr-3774	286	7	institutional	institutional	ADJ
fsr-3774	286	8	investors	investor	NOUN
fsr-3774	286	9	may	may	AUX
fsr-3774	286	10	be	be	AUX
fsr-3774	286	11	more	more	ADV
fsr-3774	286	12	lumpy	lumpy	ADJ
fsr-3774	286	13	across	across	ADP
fsr-3774	286	14	the	the	DET
fsr-3774	286	15	month	month	NOUN
fsr-3774	286	16	,	,	PUNCT
fsr-3774	286	17	but	but	CCONJ
fsr-3774	286	18	we	we	PRON
fsr-3774	286	19	know	know	VERB
fsr-3774	286	20	of	of	ADP
fsr-3774	286	21	no	no	DET
fsr-3774	286	22	regular	regular	ADJ
fsr-3774	286	23	monthly	monthly	ADJ
fsr-3774	286	24	trading	trading	NOUN
fsr-3774	286	25	patterns	pattern	NOUN
fsr-3774	286	26	that	that	PRON
fsr-3774	286	27	arise	arise	VERB
fsr-3774	286	28	from	from	ADP
fsr-3774	286	29	this	this	DET
fsr-3774	286	30	flow	flow	NOUN
fsr-3774	286	31	.	.	PUNCT
fsr-3774	287	1	94	94	NUM
fsr-3774	287	2	financlal	financlal	PROPN
fsr-3774	287	3	services	service	NOUN
fsr-3774	287	4	review	review	NOUN
fsr-3774	287	5	4(2	4(2	NUM
fsr-3774	287	6	)	)	PUNCT
fsr-3774	287	7	1995	1995	NUM
fsr-3774	287	8	2	2	X
fsr-3774	287	9	.	.	PUNCT
fsr-3774	288	1	we	we	PRON
fsr-3774	288	2	define	define	VERB
fsr-3774	288	3	a	a	DET
fsr-3774	288	4	“	"	PUNCT
fsr-3774	288	5	production	production	NOUN
fsr-3774	288	6	month	month	NOUN
fsr-3774	288	7	”	"	PUNCT
fsr-3774	288	8	to	to	PART
fsr-3774	288	9	be	be	AUX
fsr-3774	288	10	the	the	DET
fsr-3774	288	11	period	period	NOUN
fsr-3774	288	12	of	of	ADP
fsr-3774	288	13	time	time	NOUN
fsr-3774	288	14	during	during	ADP
fsr-3774	288	15	which	which	PRON
fsr-3774	288	16	commissions	commission	NOUN
fsr-3774	288	17	earned	earn	VERB
fsr-3774	288	18	will	will	AUX
fsr-3774	288	19	contribute	contribute	VERB
fsr-3774	288	20	toward	toward	ADP
fsr-3774	288	21	the	the	DET
fsr-3774	288	22	next	next	ADJ
fsr-3774	288	23	paycheck	paycheck	NOUN
fsr-3774	288	24	.	.	PUNCT
fsr-3774	289	1	for	for	ADP
fsr-3774	289	2	stock	stock	NOUN
fsr-3774	289	3	trades	trade	NOUN
fsr-3774	289	4	,	,	PUNCT
fsr-3774	289	5	the	the	DET
fsr-3774	289	6	production	production	NOUN
fsr-3774	289	7	month	month	NOUN
fsr-3774	289	8	typically	typically	ADV
fsr-3774	289	9	ends	end	VERB
fsr-3774	289	10	one	one	NUM
fsr-3774	289	11	week	week	NOUN
fsr-3774	289	12	prior	prior	ADV
fsr-3774	289	13	to	to	ADP
fsr-3774	289	14	the	the	DET
fsr-3774	289	15	last	last	ADJ
fsr-3774	289	16	trading	trading	NOUN
fsr-3774	289	17	day	day	NOUN
fsr-3774	289	18	of	of	ADP
fsr-3774	289	19	the	the	DET
fsr-3774	289	20	month	month	NOUN
fsr-3774	289	21	.	.	PUNCT
fsr-3774	290	1	3	3	X
fsr-3774	290	2	.	.	X
fsr-3774	291	1	some	some	DET
fsr-3774	291	2	firms	firm	NOUN
fsr-3774	291	3	use	use	VERB
fsr-3774	291	4	the	the	DET
fsr-3774	291	5	last	last	ADJ
fsr-3774	291	6	friday	friday	PROPN
fsr-3774	291	7	in	in	ADP
fsr-3774	291	8	the	the	DET
fsr-3774	291	9	month	month	NOUN
fsr-3774	291	10	rather	rather	ADV
fsr-3774	291	11	than	than	ADP
fsr-3774	291	12	the	the	DET
fsr-3774	291	13	last	last	ADJ
fsr-3774	291	14	day	day	NOUN
fsr-3774	291	15	of	of	ADP
fsr-3774	291	16	the	the	DET
fsr-3774	291	17	month	month	NOUN
fsr-3774	291	18	as	as	ADP
fsr-3774	291	19	the	the	DET
fsr-3774	291	20	date	date	NOUN
fsr-3774	291	21	that	that	PRON
fsr-3774	291	22	trades	trade	VERB
fsr-3774	291	23	must	must	AUX
fsr-3774	291	24	“	"	PUNCT
fsr-3774	291	25	settle	settle	VERB
fsr-3774	291	26	”	"	PUNCT
fsr-3774	291	27	in	in	ADP
fsr-3774	291	28	order	order	NOUN
fsr-3774	291	29	to	to	PART
fsr-3774	291	30	have	have	AUX
fsr-3774	291	31	the	the	DET
fsr-3774	291	32	commissions	commission	NOUN
fsr-3774	291	33	included	include	VERB
fsr-3774	291	34	in	in	ADP
fsr-3774	291	35	the	the	DET
fsr-3774	291	36	next	next	ADJ
fsr-3774	291	37	paycheck	paycheck	NOUN
fsr-3774	291	38	.	.	PUNCT
fsr-3774	292	1	4	4	X
fsr-3774	292	2	.	.	X
fsr-3774	292	3	the	the	DET
fsr-3774	292	4	production	production	NOUN
fsr-3774	292	5	of	of	ADP
fsr-3774	292	6	sufficient	sufficient	ADJ
fsr-3774	292	7	commission	commission	NOUN
fsr-3774	292	8	revenue	revenue	NOUN
fsr-3774	292	9	is	be	AUX
fsr-3774	292	10	necessary	necessary	ADJ
fsr-3774	292	11	for	for	SCONJ
fsr-3774	292	12	brokers	broker	NOUN
fsr-3774	292	13	to	to	PART
fsr-3774	292	14	earn	earn	VERB
fsr-3774	292	15	their	their	PRON
fsr-3774	292	16	expected	expect	VERB
fsr-3774	292	17	income	income	NOUN
fsr-3774	292	18	level	level	NOUN
fsr-3774	292	19	and	and	CCONJ
fsr-3774	292	20	for	for	ADP
fsr-3774	292	21	most	most	ADJ
fsr-3774	292	22	of	of	ADP
fsr-3774	292	23	them	they	PRON
fsr-3774	292	24	to	to	PART
fsr-3774	292	25	keep	keep	VERB
fsr-3774	292	26	their	their	PRON
fsr-3774	292	27	jobs	job	NOUN
fsr-3774	292	28	.	.	PUNCT
fsr-3774	293	1	a	a	DET
fsr-3774	293	2	brokerage	brokerage	NOUN
fsr-3774	293	3	fii	fii	PROPN
fsr-3774	293	4	’s	’s	PART
fsr-3774	293	5	regional	regional	ADJ
fsr-3774	293	6	or	or	CCONJ
fsr-3774	293	7	national	national	ADJ
fsr-3774	293	8	office	office	NOUN
fsr-3774	293	9	generally	generally	ADV
fsr-3774	293	10	defines	define	VERB
fsr-3774	293	11	what	what	DET
fsr-3774	293	12	level	level	NOUN
fsr-3774	293	13	of	of	ADP
fsr-3774	293	14	commission	commission	NOUN
fsr-3774	293	15	production	production	NOUN
fsr-3774	293	16	is	be	AUX
fsr-3774	293	17	“	"	PUNCT
fsr-3774	293	18	sufficient	sufficient	ADJ
fsr-3774	293	19	.	.	PUNCT
fsr-3774	293	20	”	"	PUNCT
fsr-3774	294	1	those	those	DET
fsr-3774	294	2	brokers	broker	NOUN
fsr-3774	294	3	who	who	PRON
fsr-3774	294	4	repeatedly	repeatedly	ADV
fsr-3774	294	5	fall	fall	VERB
fsr-3774	294	6	short	short	ADV
fsr-3774	294	7	of	of	ADP
fsr-3774	294	8	this	this	DET
fsr-3774	294	9	“	"	PUNCT
fsr-3774	294	10	sufficient	sufficient	ADJ
fsr-3774	294	11	”	"	PUNCT
fsr-3774	294	12	level	level	NOUN
fsr-3774	294	13	will	will	AUX
fsr-3774	294	14	lose	lose	VERB
fsr-3774	294	15	their	their	PRON
fsr-3774	294	16	jobs	job	NOUN
fsr-3774	294	17	.	.	PUNCT
fsr-3774	295	1	5	5	X
fsr-3774	295	2	.	.	X
fsr-3774	295	3	the	the	DET
fsr-3774	295	4	data	datum	NOUN
fsr-3774	295	5	provided	provide	VERB
fsr-3774	295	6	by	by	ADP
fsr-3774	295	7	the	the	DET
fsr-3774	295	8	brokerage	brokerage	NOUN
fsr-3774	295	9	firm	firm	NOUN
fsr-3774	295	10	includes	include	VERB
fsr-3774	295	11	stock	stock	NOUN
fsr-3774	295	12	trades	trade	NOUN
fsr-3774	295	13	for	for	ADP
fsr-3774	295	14	a	a	DET
fsr-3774	295	15	random	random	ADJ
fsr-3774	295	16	sample	sample	NOUN
fsr-3774	295	17	of	of	ADP
fsr-3774	295	18	about	about	ADV
fsr-3774	295	19	125	125	NUM
fsr-3774	295	20	brokers	broker	NOUN
fsr-3774	295	21	.	.	PUNCT
fsr-3774	296	1	the	the	DET
fsr-3774	296	2	sample	sample	NOUN
fsr-3774	296	3	was	be	AUX
fsr-3774	296	4	reduced	reduce	VERB
fsr-3774	296	5	to	to	ADP
fsr-3774	296	6	100	100	NUM
fsr-3774	296	7	brokers	broker	NOUN
fsr-3774	296	8	after	after	ADP
fsr-3774	296	9	taking	take	VERB
fsr-3774	296	10	out	out	ADP
fsr-3774	296	11	those	those	DET
fsr-3774	296	12	brokers	broker	NOUN
fsr-3774	296	13	who	who	PRON
fsr-3774	296	14	traded	trade	VERB
fsr-3774	296	15	stock	stock	NOUN
fsr-3774	296	16	infrequently	infrequently	ADV
fsr-3774	296	17	or	or	CCONJ
fsr-3774	296	18	did	do	AUX
fsr-3774	296	19	not	not	PART
fsr-3774	296	20	trade	trade	VERB
fsr-3774	296	21	stock	stock	NOUN
fsr-3774	296	22	for	for	ADP
fsr-3774	296	23	more	more	ADJ
fsr-3774	296	24	than	than	ADP
fsr-3774	296	25	a	a	DET
fsr-3774	296	26	few	few	ADJ
fsr-3774	296	27	months	month	NOUN
fsr-3774	296	28	during	during	ADP
fsr-3774	296	29	the	the	DET
fsr-3774	296	30	sample	sample	NOUN
fsr-3774	296	31	period	period	NOUN
fsr-3774	296	32	.	.	PUNCT
fsr-3774	297	1	6	6	X
fsr-3774	297	2	.	.	X
fsr-3774	297	3	an	an	DET
fsr-3774	297	4	alternative	alternative	ADJ
fsr-3774	297	5	way	way	NOUN
fsr-3774	297	6	to	to	PART
fsr-3774	297	7	construct	construct	VERB
fsr-3774	297	8	the	the	DET
fsr-3774	297	9	empirical	empirical	ADJ
fsr-3774	297	10	tests	test	NOUN
fsr-3774	297	11	in	in	ADP
fsr-3774	297	12	this	this	DET
fsr-3774	297	13	paper	paper	NOUN
fsr-3774	297	14	is	be	AUX
fsr-3774	297	15	to	to	PART
fsr-3774	297	16	look	look	VERB
fsr-3774	297	17	at	at	ADP
fsr-3774	297	18	average	average	ADJ
fsr-3774	297	19	broker	broker	NOUN
fsr-3774	297	20	dollar	dollar	NOUN
fsr-3774	297	21	commissions	commission	NOUN
fsr-3774	297	22	across	across	ADP
fsr-3774	297	23	days	day	NOUN
fsr-3774	297	24	of	of	ADP
fsr-3774	297	25	the	the	DET
fsr-3774	297	26	month	month	NOUN
fsr-3774	297	27	compared	compare	VERB
fsr-3774	297	28	to	to	ADP
fsr-3774	297	29	the	the	DET
fsr-3774	297	30	average	average	ADJ
fsr-3774	297	31	daily	daily	ADJ
fsr-3774	297	32	dollar	dollar	NOUN
fsr-3774	297	33	commission	commission	NOUN
fsr-3774	297	34	,	,	PUNCT
fsr-3774	297	35	rather	rather	ADV
fsr-3774	297	36	than	than	ADP
fsr-3774	297	37	looking	look	VERB
fsr-3774	297	38	at	at	ADP
fsr-3774	297	39	the	the	DET
fsr-3774	297	40	percentage	percentage	NOUN
fsr-3774	297	41	of	of	ADP
fsr-3774	297	42	commissions	commission	NOUN
fsr-3774	297	43	earned	earn	VERB
fsr-3774	297	44	each	each	DET
fsr-3774	297	45	day	day	NOUN
fsr-3774	297	46	compared	compare	VERB
fsr-3774	297	47	to	to	ADP
fsr-3774	297	48	some	some	DET
fsr-3774	297	49	expected	expect	VERB
fsr-3774	297	50	percentage	percentage	NOUN
fsr-3774	297	51	.	.	PUNCT
fsr-3774	298	1	we	we	PRON
fsr-3774	298	2	did	do	AUX
fsr-3774	298	3	not	not	PART
fsr-3774	298	4	use	use	VERB
fsr-3774	298	5	this	this	DET
fsr-3774	298	6	alternative	alternative	ADJ
fsr-3774	298	7	method	method	NOUN
fsr-3774	298	8	because	because	SCONJ
fsr-3774	298	9	the	the	DET
fsr-3774	298	10	potential	potential	NOUN
fsr-3774	298	11	for	for	ADP
fsr-3774	298	12	bias	bias	NOUN
fsr-3774	298	13	is	be	AUX
fsr-3774	298	14	greater	great	ADJ
fsr-3774	298	15	when	when	SCONJ
fsr-3774	298	16	using	use	VERB
fsr-3774	298	17	actual	actual	ADJ
fsr-3774	298	18	dollars	dollar	NOUN
fsr-3774	298	19	due	due	ADP
fsr-3774	298	20	to	to	ADP
fsr-3774	298	21	the	the	DET
fsr-3774	298	22	fact	fact	NOUN
fsr-3774	298	23	that	that	SCONJ
fsr-3774	298	24	dollar	dollar	NOUN
fsr-3774	298	25	commissions	commission	NOUN
fsr-3774	298	26	of	of	ADP
fsr-3774	298	27	brokers	broker	NOUN
fsr-3774	298	28	could	could	AUX
fsr-3774	298	29	be	be	AUX
fsr-3774	298	30	trending	trend	VERB
fsr-3774	298	31	up	up	ADP
fsr-3774	298	32	or	or	CCONJ
fsr-3774	298	33	down	down	ADV
fsr-3774	298	34	over	over	ADP
fsr-3774	298	35	time	time	NOUN
fsr-3774	298	36	.	.	PUNCT
fsr-3774	299	1	by	by	ADP
fsr-3774	299	2	stating	state	VERB
fsr-3774	299	3	each	each	DET
fsr-3774	299	4	day	day	NOUN
fsr-3774	299	5	’s	’s	PART
fsr-3774	299	6	commission	commission	NOUN
fsr-3774	299	7	as	as	ADP
fsr-3774	299	8	a	a	DET
fsr-3774	299	9	percentage	percentage	NOUN
fsr-3774	299	10	of	of	ADP
fsr-3774	299	11	that	that	DET
fsr-3774	299	12	month	month	NOUN
fsr-3774	299	13	’s	’s	PART
fsr-3774	299	14	total	total	ADJ
fsr-3774	299	15	commission	commission	NOUN
fsr-3774	299	16	,	,	PUNCT
fsr-3774	299	17	we	we	PRON
fsr-3774	299	18	eliminate	eliminate	VERB
fsr-3774	299	19	any	any	DET
fsr-3774	299	20	influence	influence	NOUN
fsr-3774	299	21	from	from	ADP
fsr-3774	299	22	the	the	DET
fsr-3774	299	23	other	other	ADJ
fsr-3774	299	24	23	23	NUM
fsr-3774	299	25	months	month	NOUN
fsr-3774	299	26	in	in	ADP
fsr-3774	299	27	the	the	DET
fsr-3774	299	28	sample	sample	NOUN
fsr-3774	299	29	.	.	PUNCT
fsr-3774	300	1	empirical	empirical	ADJ
fsr-3774	300	2	tests	test	NOUN
fsr-3774	300	3	were	be	AUX
fsr-3774	300	4	conducted	conduct	VERB
fsr-3774	300	5	using	use	VERB
fsr-3774	300	6	dollar	dollar	NOUN
fsr-3774	300	7	commissions	commission	NOUN
fsr-3774	300	8	rather	rather	ADV
fsr-3774	300	9	than	than	ADP
fsr-3774	300	10	percentages	percentage	NOUN
fsr-3774	300	11	.	.	PUNCT
fsr-3774	301	1	these	these	DET
fsr-3774	301	2	tests	test	NOUN
fsr-3774	301	3	confirmed	confirm	VERB
fsr-3774	301	4	the	the	DET
fsr-3774	301	5	results	result	NOUN
fsr-3774	301	6	reported	report	VERB
fsr-3774	301	7	in	in	ADP
fsr-3774	301	8	tables	table	NOUN
fsr-3774	301	9	1	1	NUM
fsr-3774	301	10	and	and	CCONJ
fsr-3774	301	11	2	2	NUM
fsr-3774	301	12	by	by	ADP
fsr-3774	301	13	showing	show	VERB
fsr-3774	301	14	that	that	SCONJ
fsr-3774	301	15	about	about	ADV
fsr-3774	301	16	one	one	NUM
fsr-3774	301	17	-	-	PUNCT
fsr-3774	301	18	fourth	fourth	NOUN
fsr-3774	301	19	of	of	ADP
fsr-3774	301	20	the	the	DET
fsr-3774	301	21	brokers	broker	NOUN
fsr-3774	301	22	earned	earn	VERB
fsr-3774	301	23	significantly	significantly	ADV
fsr-3774	301	24	higher	high	ADJ
fsr-3774	301	25	commissions	commission	NOUN
fsr-3774	301	26	in	in	ADP
fsr-3774	301	27	the	the	DET
fsr-3774	301	28	last	last	ADJ
fsr-3774	301	29	days	day	NOUN
fsr-3774	301	30	of	of	ADP
fsr-3774	301	31	the	the	DET
fsr-3774	301	32	production	production	NOUN
fsr-3774	301	33	month	month	NOUN
fsr-3774	301	34	compared	compare	VERB
fsr-3774	301	35	to	to	ADP
fsr-3774	301	36	the	the	DET
fsr-3774	301	37	average	average	ADJ
fsr-3774	301	38	daily	daily	ADJ
fsr-3774	301	39	dollar	dollar	NOUN
fsr-3774	301	40	commission	commission	NOUN
fsr-3774	301	41	that	that	PRON
fsr-3774	301	42	they	they	PRON
fsr-3774	301	43	earned	earn	VERB
fsr-3774	301	44	across	across	ADP
fsr-3774	301	45	the	the	DET
fsr-3774	301	46	month	month	NOUN
fsr-3774	301	47	.	.	PUNCT
fsr-3774	302	1	7	7	X
fsr-3774	302	2	.	.	X
fsr-3774	302	3	in	in	ADP
fsr-3774	302	4	addition	addition	NOUN
fsr-3774	302	5	to	to	ADP
fsr-3774	302	6	the	the	DET
fsr-3774	302	7	individual	individual	ADJ
fsr-3774	302	8	broker	broker	NOUN
fsr-3774	302	9	comparisons	comparison	NOUN
fsr-3774	302	10	,	,	PUNCT
fsr-3774	302	11	the	the	DET
fsr-3774	302	12	odd	odd	ADJ
fsr-3774	302	13	-	-	PUNCT
fsr-3774	302	14	lot	lot	NOUN
fsr-3774	302	15	trading	trading	NOUN
fsr-3774	302	16	averages	average	NOUN
fsr-3774	302	17	in	in	ADP
fsr-3774	302	18	table	table	NOUN
fsr-3774	302	19	3	3	NUM
fsr-3774	302	20	may	may	AUX
fsr-3774	302	21	be	be	AUX
fsr-3774	302	22	compared	compare	VERB
fsr-3774	302	23	to	to	ADP
fsr-3774	302	24	the	the	DET
fsr-3774	302	25	nyse	nyse	PROPN
fsr-3774	302	26	volume	volume	NOUN
fsr-3774	302	27	percentages	percentage	NOUN
fsr-3774	302	28	.	.	PUNCT
fsr-3774	303	1	when	when	SCONJ
fsr-3774	303	2	this	this	PRON
fsr-3774	303	3	is	be	AUX
fsr-3774	303	4	done	do	VERB
fsr-3774	303	5	,	,	PUNCT
fsr-3774	303	6	the	the	DET
fsr-3774	303	7	odd	odd	ADJ
fsr-3774	303	8	-	-	PUNCT
fsr-3774	303	9	lot	lot	NOUN
fsr-3774	303	10	trading	trading	NOUN
fsr-3774	303	11	averages	average	NOUN
fsr-3774	303	12	are	be	AUX
fsr-3774	303	13	not	not	PART
fsr-3774	303	14	significantly	significantly	ADV
fsr-3774	303	15	different	different	ADJ
fsr-3774	303	16	from	from	ADP
fsr-3774	303	17	the	the	DET
fsr-3774	303	18	nyse	nyse	PROPN
fsr-3774	303	19	percentages	percentage	NOUN
fsr-3774	303	20	.	.	PUNCT
fsr-3774	304	1	8	8	X
fsr-3774	304	2	.	.	X
fsr-3774	305	1	a	a	DET
fsr-3774	305	2	preliminary	preliminary	ADJ
fsr-3774	305	3	study	study	NOUN
fsr-3774	305	4	conducted	conduct	VERB
fsr-3774	305	5	on	on	ADP
fsr-3774	305	6	1986	1986	NUM
fsr-3774	305	7	and	and	CCONJ
fsr-3774	305	8	1987	1987	NUM
fsr-3774	305	9	data	datum	NOUN
fsr-3774	305	10	from	from	ADP
fsr-3774	305	11	a	a	DET
fsr-3774	305	12	single	single	ADJ
fsr-3774	305	13	office	office	NOUN
fsr-3774	305	14	of	of	ADP
fsr-3774	305	15	a	a	DET
fsr-3774	305	16	national	national	ADJ
fsr-3774	305	17	firm	firm	NOUN
fsr-3774	305	18	showed	show	VERB
fsr-3774	305	19	similar	similar	ADJ
fsr-3774	305	20	results	result	NOUN
fsr-3774	305	21	to	to	ADP
fsr-3774	305	22	those	those	PRON
fsr-3774	305	23	reported	report	VERB
fsr-3774	305	24	here	here	ADV
fsr-3774	305	25	.	.	PUNCT
fsr-3774	306	1	that	that	DET
fsr-3774	306	2	study	study	NOUN
fsr-3774	306	3	showed	show	VERB
fsr-3774	306	4	that	that	SCONJ
fsr-3774	306	5	four	four	NUM
fsr-3774	306	6	of	of	ADP
fsr-3774	306	7	eight	eight	NUM
fsr-3774	306	8	brokers	broker	NOUN
fsr-3774	306	9	traded	trade	VERB
fsr-3774	306	10	more	more	ADV
fsr-3774	306	11	heavily	heavily	ADV
fsr-3774	306	12	than	than	SCONJ
fsr-3774	306	13	expected	expect	VERB
fsr-3774	306	14	in	in	ADP
fsr-3774	306	15	the	the	DET
fsr-3774	306	16	last	last	ADJ
fsr-3774	306	17	week	week	NOUN
fsr-3774	306	18	of	of	ADP
fsr-3774	306	19	the	the	DET
fsr-3774	306	20	production	production	NOUN
fsr-3774	306	21	month	month	NOUN
fsr-3774	306	22	.	.	PUNCT
fsr-3774	307	1	one	one	NUM
fsr-3774	307	2	broker	broker	NOUN
fsr-3774	307	3	(	(	PUNCT
fsr-3774	307	4	who	who	PRON
fsr-3774	307	5	was	be	AUX
fsr-3774	307	6	reported	report	VERB
fsr-3774	307	7	to	to	ADP
fsr-3774	307	8	us	we	PRON
fsr-3774	307	9	by	by	ADP
fsr-3774	307	10	a	a	DET
fsr-3774	307	11	colleague	colleague	NOUN
fsr-3774	307	12	as	as	ADP
fsr-3774	307	13	engaging	engage	VERB
fsr-3774	307	14	in	in	ADP
fsr-3774	307	15	a	a	DET
fsr-3774	307	16	“	"	PUNCT
fsr-3774	307	17	feeding	feed	VERB
fsr-3774	307	18	frenzy	frenzy	NOUN
fsr-3774	307	19	”	"	PUNCT
fsr-3774	307	20	in	in	ADP
fsr-3774	307	21	the	the	DET
fsr-3774	307	22	last	last	ADJ
fsr-3774	307	23	two	two	NUM
fsr-3774	307	24	days	day	NOUN
fsr-3774	307	25	of	of	ADP
fsr-3774	307	26	production	production	NOUN
fsr-3774	307	27	month	month	NOUN
fsr-3774	307	28	)	)	PUNCT
fsr-3774	307	29	earned	earn	VERB
fsr-3774	307	30	30	30	NUM
fsr-3774	307	31	%	%	NOUN
fsr-3774	307	32	of	of	ADP
fsr-3774	307	33	monthly	monthly	ADJ
fsr-3774	307	34	commissions	commission	NOUN
fsr-3774	307	35	in	in	ADP
fsr-3774	307	36	the	the	DET
fsr-3774	307	37	last	last	ADJ
fsr-3774	307	38	two	two	NUM
fsr-3774	307	39	days	day	NOUN
fsr-3774	307	40	and	and	CCONJ
fsr-3774	307	41	53	53	NUM
fsr-3774	307	42	%	%	NOUN
fsr-3774	307	43	of	of	ADP
fsr-3774	307	44	commissions	commission	NOUN
fsr-3774	307	45	in	in	ADP
fsr-3774	307	46	the	the	DET
fsr-3774	307	47	last	last	ADJ
fsr-3774	307	48	week	week	NOUN
fsr-3774	307	49	of	of	ADP
fsr-3774	307	50	the	the	DET
fsr-3774	307	51	production	production	NOUN
fsr-3774	307	52	month	month	NOUN
fsr-3774	307	53	,	,	PUNCT
fsr-3774	307	54	on	on	ADP
fsr-3774	307	55	average	average	ADJ
fsr-3774	307	56	,	,	PUNCT
fsr-3774	307	57	over	over	ADP
fsr-3774	307	58	the	the	DET
fsr-3774	307	59	two	two	NUM
fsr-3774	307	60	-	-	PUNCT
fsr-3774	307	61	year	year	NOUN
fsr-3774	307	62	period	period	NOUN
fsr-3774	307	63	.	.	PUNCT
fsr-3774	308	1	9	9	X
fsr-3774	308	2	.	.	PUNCT
fsr-3774	308	3	“	"	PUNCT
fsr-3774	308	4	churning	churn	VERB
fsr-3774	308	5	,	,	PUNCT
fsr-3774	308	6	”	"	PUNCT
fsr-3774	308	7	according	accord	VERB
fsr-3774	308	8	to	to	ADP
fsr-3774	308	9	the	the	DET
fsr-3774	308	10	sec	sec	PROPN
fsr-3774	308	11	and	and	CCONJ
fsr-3774	308	12	court	court	NOUN
fsr-3774	308	13	cases	case	NOUN
fsr-3774	308	14	,	,	PUNCT
fsr-3774	308	15	is	be	AUX
fsr-3774	308	16	the	the	DET
fsr-3774	308	17	excessive	excessive	ADJ
fsr-3774	308	18	trading	trading	NOUN
fsr-3774	308	19	in	in	ADP
fsr-3774	308	20	a	a	DET
fsr-3774	308	21	particular	particular	ADJ
fsr-3774	308	22	customer	customer	NOUN
fsr-3774	308	23	’s	’s	PART
fsr-3774	308	24	account	account	NOUN
fsr-3774	308	25	(	(	PUNCT
fsr-3774	308	26	usually	usually	ADV
fsr-3774	308	27	a	a	DET
fsr-3774	308	28	discretionary	discretionary	ADJ
fsr-3774	308	29	account	account	NOUN
fsr-3774	308	30	)	)	PUNCT
fsr-3774	308	31	for	for	ADP
fsr-3774	308	32	the	the	DET
fsr-3774	308	33	purpose	purpose	NOUN
fsr-3774	308	34	of	of	ADP
fsr-3774	308	35	generating	generate	VERB
fsr-3774	308	36	commission	commission	NOUN
fsr-3774	308	37	income	income	NOUN
fsr-3774	308	38	.	.	PUNCT
fsr-3774	309	1	10	10	NUM
fsr-3774	309	2	.	.	PUNCT
fsr-3774	310	1	instead	instead	ADV
fsr-3774	310	2	of	of	ADP
fsr-3774	310	3	churning	churn	VERB
fsr-3774	310	4	a	a	DET
fsr-3774	310	5	particular	particular	ADJ
fsr-3774	310	6	client	client	NOUN
fsr-3774	310	7	’s	’s	PART
fsr-3774	310	8	account	account	NOUN
fsr-3774	310	9	,	,	PUNCT
fsr-3774	310	10	this	this	DET
fsr-3774	310	11	paper	paper	NOUN
fsr-3774	310	12	suggests	suggest	VERB
fsr-3774	310	13	many	many	ADJ
fsr-3774	310	14	brokers	broker	NOUN
fsr-3774	310	15	are	be	AUX
fsr-3774	310	16	“	"	PUNCT
fsr-3774	310	17	stirring	stir	VERB
fsr-3774	310	18	up	up	ADP
fsr-3774	310	19	”	"	PUNCT
fsr-3774	310	20	unnecessary	unnecessary	ADJ
fsr-3774	310	21	activity	activity	NOUN
fsr-3774	310	22	in	in	ADP
fsr-3774	310	23	many	many	ADJ
fsr-3774	310	24	different	different	ADJ
fsr-3774	310	25	accounts	account	NOUN
fsr-3774	310	26	near	near	ADP
fsr-3774	310	27	the	the	DET
fsr-3774	310	28	end	end	NOUN
fsr-3774	310	29	of	of	ADP
fsr-3774	310	30	the	the	DET
fsr-3774	310	31	production	production	NOUN
fsr-3774	310	32	month	month	NOUN
fsr-3774	310	33	.	.	PUNCT
fsr-3774	311	1	(	(	PUNCT
fsr-3774	311	2	one	one	NUM
fsr-3774	311	3	dictionary	dictionary	ADJ
fsr-3774	311	4	defines	define	VERB
fsr-3774	311	5	“	"	PUNCT
fsr-3774	311	6	churning	churn	VERB
fsr-3774	311	7	”	"	PUNCT
fsr-3774	311	8	as	as	ADP
fsr-3774	311	9	a	a	DET
fsr-3774	311	10	“	"	PUNCT
fsr-3774	311	11	violent	violent	ADJ
fsr-3774	311	12	stirring	stirring	NOUN
fsr-3774	311	13	.	.	PUNCT
fsr-3774	312	1	“	"	PUNCT
fsr-3774	312	2	)	)	PUNCT
fsr-3774	312	3	perhaps	perhaps	ADV
fsr-3774	312	4	we	we	PRON
fsr-3774	312	5	need	need	VERB
fsr-3774	312	6	to	to	PART
fsr-3774	312	7	invent	invent	VERB
fsr-3774	312	8	a	a	DET
fsr-3774	312	9	term	term	NOUN
fsr-3774	312	10	for	for	SCONJ
fsr-3774	312	11	this	this	DET
fsr-3774	312	12	behavior	behavior	NOUN
fsr-3774	312	13	to	to	PART
fsr-3774	312	14	distinguish	distinguish	VERB
fsr-3774	312	15	between	between	ADP
fsr-3774	312	16	intensive	intensive	ADJ
fsr-3774	312	17	(	(	PUNCT
fsr-3774	312	18	one	one	NUM
fsr-3774	312	19	client	client	NOUN
fsr-3774	312	20	)	)	PUNCT
fsr-3774	312	21	and	and	CCONJ
fsr-3774	312	22	extensive	extensive	ADJ
fsr-3774	312	23	(	(	PUNCT
fsr-3774	312	24	multi	multi	ADJ
fsr-3774	312	25	-	-	NOUN
fsr-3774	312	26	client	client	NOUN
fsr-3774	312	27	)	)	PUNCT
fsr-3774	312	28	“	"	PUNCT
fsr-3774	312	29	churning	churn	VERB
fsr-3774	312	30	.	.	PUNCT
fsr-3774	312	31	”	"	PUNCT
fsr-3774	313	1	references	reference	NOUN
fsr-3774	313	2	admati	admati	PROPN
fsr-3774	313	3	,	,	PUNCT
fsr-3774	313	4	a.	a.	PROPN
fsr-3774	313	5	&	&	CCONJ
fsr-3774	313	6	pfleiderer	pfleiderer	PROPN
fsr-3774	313	7	,	,	PUNCT
fsr-3774	313	8	p.	p.	NOUN
fsr-3774	313	9	(	(	PUNCT
fsr-3774	313	10	1988	1988	NUM
fsr-3774	313	11	)	)	PUNCT
fsr-3774	313	12	.	.	PUNCT
fsr-3774	314	1	a	a	DET
fsr-3774	314	2	theory	theory	NOUN
fsr-3774	314	3	of	of	ADP
fsr-3774	314	4	intraday	intraday	PROPN
fsr-3774	314	5	patterns	pattern	NOUN
fsr-3774	314	6	:	:	PUNCT
fsr-3774	314	7	volume	volume	NOUN
fsr-3774	314	8	and	and	CCONJ
fsr-3774	314	9	price	price	NOUN
fsr-3774	314	10	variability	variability	NOUN
fsr-3774	314	11	.	.	PUNCT
fsr-3774	315	1	the	the	DET
fsr-3774	315	2	review	review	NOUN
fsr-3774	315	3	of	of	ADP
fsr-3774	315	4	financial	financial	ADJ
fsr-3774	315	5	studies	study	NOUN
fsr-3774	315	6	,	,	PUNCT
fsr-3774	315	7	i	i	PRON
fsr-3774	315	8	,	,	PUNCT
fsr-3774	315	9	3	3	PROPN
fsr-3774	315	10	-	-	SYM
fsr-3774	315	11	40	40	NUM
fsr-3774	315	12	.	.	PUNCT
fsr-3774	316	1	ariel	ariel	PROPN
fsr-3774	316	2	,	,	PUNCT
fsr-3774	316	3	r.	r.	PROPN
fsr-3774	316	4	(	(	PUNCT
fsr-3774	316	5	1987	1987	NUM
fsr-3774	316	6	)	)	PUNCT
fsr-3774	316	7	.	.	PUNCT
fsr-3774	317	1	a	a	DET
fsr-3774	317	2	monthly	monthly	ADJ
fsr-3774	317	3	effect	effect	NOUN
fsr-3774	317	4	in	in	ADP
fsr-3774	317	5	stock	stock	NOUN
fsr-3774	317	6	returns	return	NOUN
fsr-3774	317	7	.	.	PUNCT
fsr-3774	318	1	journal	journal	NOUN
fsr-3774	318	2	of	of	ADP
fsr-3774	318	3	financial	financial	ADJ
fsr-3774	318	4	economics	economic	NOUN
fsr-3774	318	5	,	,	PUNCT
fsr-3774	318	6	18	18	NUM
fsr-3774	318	7	,	,	PUNCT
fsr-3774	318	8	161	161	NUM
fsr-3774	318	9	-	-	SYM
fsr-3774	318	10	74	74	NUM
fsr-3774	318	11	.	.	PUNCT
fsr-3774	319	1	ariel	ariel	PROPN
fsr-3774	319	2	,	,	PUNCT
fsr-3774	319	3	r.	r.	PROPN
fsr-3774	319	4	(	(	PUNCT
fsr-3774	319	5	1988	1988	NUM
fsr-3774	319	6	)	)	PUNCT
fsr-3774	319	7	.	.	PUNCT
fsr-3774	320	1	evidence	evidence	NOUN
fsr-3774	320	2	on	on	ADP
fsr-3774	320	3	intra	intra	ADJ
fsr-3774	320	4	-	-	ADJ
fsr-3774	320	5	month	month	NOUN
fsr-3774	320	6	seasonality	seasonality	NOUN
fsr-3774	320	7	in	in	ADP
fsr-3774	320	8	stock	stock	NOUN
fsr-3774	320	9	returns	return	NOUN
fsr-3774	320	10	.	.	PUNCT
fsr-3774	321	1	in	in	ADP
fsr-3774	321	2	e.	e.	PROPN
fsr-3774	321	3	dimson	dimson	PROPN
fsr-3774	321	4	(	(	PUNCT
fsr-3774	321	5	ed	ed	NOUN
fsr-3774	321	6	.	.	PUNCT
fsr-3774	321	7	)	)	PUNCT
fsr-3774	321	8	,	,	PUNCT
fsr-3774	321	9	stock	stock	NOUN
fsr-3774	321	10	market	market	NOUN
fsr-3774	321	11	anomalies	anomaly	NOUN
fsr-3774	321	12	(	(	PUNCT
fsr-3774	321	13	pp	pp	ADJ
fsr-3774	321	14	.	.	PUNCT
fsr-3774	321	15	117	117	NUM
fsr-3774	321	16	-	-	SYM
fsr-3774	321	17	138	138	NUM
fsr-3774	321	18	)	)	PUNCT
fsr-3774	321	19	.	.	PUNCT
fsr-3774	322	1	cambridge	cambridge	PROPN
fsr-3774	322	2	,	,	PUNCT
fsr-3774	322	3	uk	uk	PROPN
fsr-3774	322	4	:	:	PUNCT
fsr-3774	322	5	cambridge	cambridge	PROPN
fsr-3774	322	6	university	university	PROPN
fsr-3774	322	7	press	press	NOUN
fsr-3774	322	8	.	.	PUNCT
fsr-3774	323	1	foster	foster	PROPN
fsr-3774	323	2	,	,	PUNCT
fsr-3774	323	3	f.	f.	PROPN
fsr-3774	323	4	,	,	PUNCT
fsr-3774	323	5	&	&	CCONJ
fsr-3774	323	6	viswanathan	viswanathan	PROPN
fsr-3774	323	7	,	,	PUNCT
fsr-3774	323	8	s.	s.	PROPN
fsr-3774	323	9	(	(	PUNCT
fsr-3774	323	10	1990	1990	NUM
fsr-3774	323	11	)	)	PUNCT
fsr-3774	323	12	.	.	PUNCT
fsr-3774	324	1	a	a	DET
fsr-3774	324	2	theory	theory	NOUN
fsr-3774	324	3	of	of	ADP
fsr-3774	324	4	interday	interday	PROPN
fsr-3774	324	5	variations	variation	NOUN
fsr-3774	324	6	in	in	ADP
fsr-3774	324	7	volume	volume	NOUN
fsr-3774	324	8	,	,	PUNCT
fsr-3774	324	9	variance	variance	NOUN
fsr-3774	324	10	,	,	PUNCT
fsr-3774	324	11	and	and	CCONJ
fsr-3774	324	12	trading	trading	NOUN
fsr-3774	324	13	costs	cost	NOUN
fsr-3774	324	14	in	in	ADP
fsr-3774	324	15	securities	security	NOUN
fsr-3774	324	16	markets	market	NOUN
fsr-3774	324	17	.	.	PUNCT
fsr-3774	325	1	the	the	DET
fsr-3774	325	2	review	review	NOUN
fsr-3774	325	3	of	of	ADP
fsr-3774	325	4	financial	financial	ADJ
fsr-3774	325	5	studies	study	NOUN
fsr-3774	325	6	,	,	PUNCT
fsr-3774	325	7	3,593	3,593	NUM
fsr-3774	325	8	-	-	SYM
fsr-3774	325	9	624	624	NUM
fsr-3774	325	10	.	.	PUNCT
fsr-3774	326	1	commission	commission	NOUN
fsr-3774	326	2	-	-	PUNCT
fsr-3774	326	3	motivated	motivate	VERB
fsr-3774	326	4	trading	trading	NOUN
fsr-3774	326	5	patterns	pattern	NOUN
fsr-3774	326	6	of	of	ADP
fsr-3774	326	7	brokers	broker	NOUN
fsr-3774	326	8	95	95	NUM
fsr-3774	326	9	gallant	gallant	NOUN
fsr-3774	326	10	,	,	PUNCT
fsr-3774	326	11	a.	a.	PROPN
fsr-3774	326	12	,	,	PUNCT
fsr-3774	326	13	rossi	rossi	ADJ
fsr-3774	326	14	,	,	PUNCT
fsr-3774	326	15	p.	p.	NOUN
fsr-3774	326	16	,	,	PUNCT
fsr-3774	326	17	&	&	CCONJ
fsr-3774	326	18	tauchen	tauchen	NOUN
fsr-3774	326	19	,	,	PUNCT
fsr-3774	326	20	g.	g.	PROPN
fsr-3774	326	21	(	(	PUNCT
fsr-3774	326	22	1992	1992	NUM
fsr-3774	326	23	)	)	PUNCT
fsr-3774	326	24	.	.	PUNCT
fsr-3774	327	1	stock	stock	NOUN
fsr-3774	327	2	prices	price	NOUN
fsr-3774	327	3	and	and	CCONJ
fsr-3774	327	4	volume	volume	NOUN
fsr-3774	327	5	.	.	PUNCT
fsr-3774	328	1	the	the	DET
fsr-3774	328	2	review	review	NOUN
fsr-3774	328	3	offinancialdtudies	offinancialdtudie	NOUN
fsr-3774	328	4	,	,	PUNCT
fsr-3774	328	5	5.199	5.199	NUM
fsr-3774	328	6	-	-	SYM
fsr-3774	328	7	242	242	NUM
fsr-3774	328	8	.	.	PUNCT
fsr-3774	329	1	jones	jones	PROPN
fsr-3774	329	2	,	,	PUNCT
fsr-3774	329	3	c.	c.	PROPN
fsr-3774	329	4	,	,	PUNCT
fsr-3774	329	5	pearce	pearce	PROPN
fsr-3774	329	6	,	,	PUNCT
fsr-3774	329	7	d.	d.	PROPN
fsr-3774	329	8	,	,	PUNCT
fsr-3774	329	9	&	&	CCONJ
fsr-3774	329	10	wilson	wilson	PROPN
fsr-3774	329	11	,	,	PUNCT
fsr-3774	329	12	j.	j.	PROPN
fsr-3774	329	13	(	(	PUNCT
fsr-3774	329	14	1987	1987	NUM
fsr-3774	329	15	)	)	PUNCT
fsr-3774	329	16	.	.	PUNCT
fsr-3774	330	1	can	can	AUX
fsr-3774	330	2	tax	tax	NOUN
fsr-3774	330	3	-	-	PUNCT
fsr-3774	330	4	loss	loss	NOUN
fsr-3774	330	5	selling	selling	NOUN
fsr-3774	330	6	explain	explain	VERB
fsr-3774	330	7	the	the	DET
fsr-3774	330	8	january	january	PROPN
fsr-3774	330	9	effect	effect	NOUN
fsr-3774	330	10	?	?	PUNCT
fsr-3774	331	1	a	a	DET
fsr-3774	331	2	note	note	NOUN
fsr-3774	331	3	.	.	PUNCT
fsr-3774	332	1	the	the	DET
fsr-3774	332	2	journal	journal	PROPN
fsr-3774	332	3	of	of	ADP
fsr-3774	332	4	finance	finance	NOUN
fsr-3774	332	5	,	,	PUNCT
fsr-3774	332	6	42,453	42,453	NUM
fsr-3774	332	7	-	-	SYM
fsr-3774	332	8	461	461	NUM
fsr-3774	332	9	.	.	PUNCT
fsr-3774	333	1	karpoff	karpoff	PROPN
fsr-3774	333	2	,	,	PUNCT
fsr-3774	333	3	j.	j.	PROPN
fsr-3774	333	4	(	(	PUNCT
fsr-3774	333	5	1986	1986	NUM
fsr-3774	333	6	)	)	PUNCT
fsr-3774	333	7	.	.	PUNCT
fsr-3774	334	1	a	a	DET
fsr-3774	334	2	theory	theory	NOUN
fsr-3774	334	3	of	of	ADP
fsr-3774	334	4	trading	trading	NOUN
fsr-3774	334	5	volume	volume	NOUN
fsr-3774	334	6	.	.	PUNCT
fsr-3774	335	1	the	the	DET
fsr-3774	335	2	journal	journal	PROPN
fsr-3774	335	3	offinance	offinance	NOUN
fsr-3774	335	4	,	,	PUNCT
fsr-3774	335	5	41	41	NUM
fsr-3774	335	6	,	,	PUNCT
fsr-3774	335	7	1069	1069	NUM
fsr-3774	335	8	-	-	SYM
fsr-3774	335	9	1087	1087	NUM
fsr-3774	335	10	.	.	PUNCT
fsr-3774	336	1	karpoff	karpoff	PROPN
fsr-3774	336	2	,	,	PUNCT
fsr-3774	336	3	j.	j.	PROPN
fsr-3774	336	4	(	(	PUNCT
fsr-3774	336	5	1987	1987	NUM
fsr-3774	336	6	)	)	PUNCT
fsr-3774	336	7	.	.	PUNCT
fsr-3774	337	1	the	the	DET
fsr-3774	337	2	relation	relation	NOUN
fsr-3774	337	3	between	between	ADP
fsr-3774	337	4	price	price	NOUN
fsr-3774	337	5	changes	change	NOUN
fsr-3774	337	6	and	and	CCONJ
fsr-3774	337	7	trading	trading	NOUN
fsr-3774	337	8	volume	volume	NOUN
fsr-3774	337	9	:	:	PUNCT
fsr-3774	337	10	a	a	DET
fsr-3774	337	11	survey	survey	NOUN
fsr-3774	337	12	.	.	PUNCT
fsr-3774	338	1	journal	journal	NOUN
fsr-3774	338	2	of	of	ADP
fsr-3774	338	3	financial	financial	ADJ
fsr-3774	338	4	and	and	CCONJ
fsr-3774	338	5	quantitative	quantitative	ADJ
fsr-3774	338	6	analysis	analysis	NOUN
fsr-3774	338	7	,	,	PUNCT
fsr-3774	338	8	22	22	NUM
fsr-3774	338	9	,	,	PUNCT
fsr-3774	338	10	109	109	NUM
fsr-3774	338	11	-	-	PUNCT
fsr-3774	338	12	l	l	NOUN
fsr-3774	338	13	26	26	NUM
fsr-3774	338	14	.	.	PUNCT
fsr-3774	339	1	lakonishok	lakonishok	PROPN
fsr-3774	339	2	,	,	PUNCT
fsr-3774	339	3	j.	j.	PROPN
fsr-3774	339	4	,	,	PUNCT
fsr-3774	339	5	&	&	CCONJ
fsr-3774	339	6	maberly	maberly	ADV
fsr-3774	339	7	,	,	PUNCT
fsr-3774	339	8	e.	e.	PROPN
fsr-3774	339	9	(	(	PUNCT
fsr-3774	339	10	1990	1990	NUM
fsr-3774	339	11	)	)	PUNCT
fsr-3774	339	12	.	.	PUNCT
fsr-3774	340	1	the	the	DET
fsr-3774	340	2	weekend	weekend	NOUN
fsr-3774	340	3	effect	effect	NOUN
fsr-3774	340	4	:	:	PUNCT
fsr-3774	340	5	trading	trading	NOUN
fsr-3774	340	6	patterns	pattern	NOUN
fsr-3774	340	7	of	of	ADP
fsr-3774	340	8	individual	individual	ADJ
fsr-3774	340	9	and	and	CCONJ
fsr-3774	340	10	institutional	institutional	ADJ
fsr-3774	340	11	investors	investor	NOUN
fsr-3774	340	12	.	.	PUNCT
fsr-3774	341	1	the	the	DET
fsr-3774	341	2	journal	journal	PROPN
fsr-3774	341	3	of	of	ADP
fsr-3774	341	4	finance	finance	NOUN
fsr-3774	341	5	,	,	PUNCT
fsr-3774	341	6	45.231	45.231	NUM
fsr-3774	341	7	-	-	SYM
fsr-3774	341	8	243	243	NUM
fsr-3774	341	9	.	.	PUNCT
fsr-3774	342	1	lakonishok	lakonishok	PROPN
fsr-3774	342	2	,	,	PUNCT
fsr-3774	342	3	j.	j.	PROPN
fsr-3774	342	4	,	,	PUNCT
fsr-3774	342	5	&	&	CCONJ
fsr-3774	342	6	smidt	smidt	PROPN
fsr-3774	342	7	,	,	PUNCT
fsr-3774	342	8	s.	s.	PROPN
fsr-3774	342	9	(	(	PUNCT
fsr-3774	342	10	1986	1986	NUM
fsr-3774	342	11	)	)	PUNCT
fsr-3774	342	12	.	.	PUNCT
fsr-3774	343	1	volume	volume	NOUN
fsr-3774	343	2	for	for	ADP
fsr-3774	343	3	winners	winner	NOUN
fsr-3774	343	4	and	and	CCONJ
fsr-3774	343	5	losers	loser	NOUN
fsr-3774	343	6	:	:	PUNCT
fsr-3774	343	7	taxation	taxation	NOUN
fsr-3774	343	8	and	and	CCONJ
fsr-3774	343	9	other	other	ADJ
fsr-3774	343	10	motives	motive	NOUN
fsr-3774	343	11	for	for	ADP
fsr-3774	343	12	stock	stock	NOUN
fsr-3774	343	13	trading	trading	NOUN
fsr-3774	343	14	.	.	PUNCT
fsr-3774	344	1	the	the	DET
fsr-3774	344	2	journal	journal	PROPN
fsr-3774	344	3	of	of	ADP
fsr-3774	344	4	finance	finance	NOUN
fsr-3774	344	5	,	,	PUNCT
fsr-3774	344	6	41,951	41,951	NUM
fsr-3774	344	7	-	-	SYM
fsr-3774	344	8	974	974	NUM
fsr-3774	344	9	.	.	PUNCT
fsr-3774	345	1	lakonishok	lakonishok	PROPN
fsr-3774	345	2	,	,	PUNCT
fsr-3774	345	3	j.	j.	PROPN
fsr-3774	345	4	,	,	PUNCT
fsr-3774	345	5	&	&	CCONJ
fsr-3774	345	6	smidt	smidt	PROPN
fsr-3774	345	7	,	,	PUNCT
fsr-3774	345	8	s.	s.	PROPN
fsr-3774	345	9	(	(	PUNCT
fsr-3774	345	10	1988	1988	NUM
fsr-3774	345	11	)	)	PUNCT
fsr-3774	345	12	.	.	PUNCT
fsr-3774	346	1	are	be	AUX
fsr-3774	346	2	seasonal	seasonal	ADJ
fsr-3774	346	3	anomalies	anomaly	NOUN
fsr-3774	346	4	real	real	ADJ
fsr-3774	346	5	?	?	PUNCT
fsr-3774	347	1	a	a	DET
fsr-3774	347	2	ninety	ninety	NUM
fsr-3774	347	3	-	-	PUNCT
fsr-3774	347	4	year	year	NOUN
fsr-3774	347	5	perspective	perspective	NOUN
fsr-3774	347	6	.	.	PUNCT
fsr-3774	348	1	the	the	DET
fsr-3774	348	2	review	review	NOUN
fsr-3774	348	3	of	of	ADP
fsr-3774	348	4	financial	financial	ADJ
fsr-3774	348	5	studies	study	NOUN
fsr-3774	348	6	,	,	PUNCT
fsr-3774	348	7	1,403	1,403	NUM
fsr-3774	348	8	-	-	SYM
fsr-3774	348	9	425	425	NUM
fsr-3774	348	10	.	.	PUNCT
fsr-3774	349	1	pettengill	pettengill	NOUN
fsr-3774	349	2	,	,	PUNCT
fsr-3774	349	3	g.	g.	PROPN
fsr-3774	349	4	,	,	PUNCT
fsr-3774	349	5	&	&	CCONJ
fsr-3774	349	6	jordan	jordan	PROPN
fsr-3774	349	7	,	,	PUNCT
fsr-3774	349	8	b.	b.	PROPN
fsr-3774	349	9	(	(	PUNCT
fsr-3774	349	10	1988	1988	NUM
fsr-3774	349	11	)	)	PUNCT
fsr-3774	349	12	.	.	PUNCT
fsr-3774	350	1	a	a	DET
fsr-3774	350	2	comprehensive	comprehensive	ADJ
fsr-3774	350	3	examination	examination	NOUN
fsr-3774	350	4	of	of	ADP
fsr-3774	350	5	volume	volume	NOUN
fsr-3774	350	6	effects	effect	NOUN
fsr-3774	350	7	and	and	CCONJ
fsr-3774	350	8	seasonality	seasonality	NOUN
fsr-3774	350	9	in	in	ADP
fsr-3774	350	10	daily	daily	ADJ
fsr-3774	350	11	security	security	NOUN
fsr-3774	350	12	returns	return	NOUN
fsr-3774	350	13	.	.	PUNCT
fsr-3774	351	1	the	the	DET
fsr-3774	351	2	journal	journal	NOUN
fsr-3774	351	3	of	of	ADP
fsr-3774	351	4	financial	financial	ADJ
fsr-3774	351	5	research	research	NOUN
fsr-3774	351	6	,	,	PUNCT
fsr-3774	351	7	11,57	11,57	NUM
fsr-3774	351	8	-	-	SYM
fsr-3774	351	9	70	70	NUM
fsr-3774	351	10	.	.	PUNCT
fsr-3774	352	1	ritter	ritter	PROPN
fsr-3774	352	2	,	,	PUNCT
fsr-3774	352	3	j.	j.	PROPN
fsr-3774	352	4	(	(	PUNCT
fsr-3774	352	5	1988	1988	NUM
fsr-3774	352	6	)	)	PUNCT
fsr-3774	352	7	.	.	PUNCT
fsr-3774	353	1	the	the	DET
fsr-3774	353	2	buying	buying	NOUN
fsr-3774	353	3	and	and	CCONJ
fsr-3774	353	4	selling	sell	VERB
fsr-3774	353	5	behavior	behavior	NOUN
fsr-3774	353	6	of	of	ADP
fsr-3774	353	7	individual	individual	ADJ
fsr-3774	353	8	investors	investor	NOUN
fsr-3774	353	9	at	at	ADP
fsr-3774	353	10	the	the	DET
fsr-3774	353	11	turn	turn	NOUN
fsr-3774	353	12	of	of	ADP
fsr-3774	353	13	the	the	DET
fsr-3774	353	14	year	year	NOUN
fsr-3774	353	15	.	.	PUNCT
fsr-3774	354	1	the	the	DET
fsr-3774	354	2	journal	journal	PROPN
fsr-3774	354	3	of	of	ADP
fsr-3774	354	4	finance	finance	NOUN
fsr-3774	354	5	,	,	PUNCT
fsr-3774	354	6	43,701	43,701	NUM
fsr-3774	354	7	-	-	SYM
fsr-3774	354	8	717	717	NUM
fsr-3774	354	9	.	.	PUNCT
fsr-3774	355	1	roll	roll	NOUN
fsr-3774	355	2	,	,	PUNCT
fsr-3774	355	3	r.	r.	PROPN
fsr-3774	355	4	(	(	PUNCT
fsr-3774	355	5	1983	1983	NUM
fsr-3774	355	6	)	)	PUNCT
fsr-3774	355	7	.	.	PUNCT
fsr-3774	356	1	vas	vas	PROPN
fsr-3774	356	2	ist	ist	PROPN
fsr-3774	356	3	das	das	PROPN
fsr-3774	356	4	?	?	PUNCT
fsr-3774	357	1	the	the	DET
fsr-3774	357	2	turn	turn	VERB
fsr-3774	357	3	-	-	PUNCT
fsr-3774	357	4	of	of	ADP
fsr-3774	357	5	-	-	PUNCT
fsr-3774	357	6	the	the	DET
fsr-3774	357	7	-	-	PUNCT
fsr-3774	357	8	year	year	NOUN
fsr-3774	357	9	effect	effect	NOUN
fsr-3774	357	10	and	and	CCONJ
fsr-3774	357	11	the	the	DET
fsr-3774	357	12	return	return	NOUN
fsr-3774	357	13	premia	premia	NOUN
fsr-3774	357	14	of	of	ADP
fsr-3774	357	15	small	small	ADJ
fsr-3774	357	16	firms	firm	NOUN
fsr-3774	357	17	.	.	PUNCT
fsr-3774	358	1	journal	journal	PROPN
fsr-3774	358	2	of	of	ADP
fsr-3774	358	3	portfolio	portfolio	NOUN
fsr-3774	358	4	management	management	NOUN
fsr-3774	358	5	,	,	PUNCT
fsr-3774	358	6	9(2	9(2	NUM
fsr-3774	358	7	)	)	PUNCT
fsr-3774	358	8	,	,	PUNCT
fsr-3774	358	9	18	18	NUM
fsr-3774	358	10	-	-	SYM
fsr-3774	358	11	28	28	NUM
fsr-3774	358	12	.	.	PUNCT
fsr-3774	359	1	thompson	thompson	PROPN
fsr-3774	359	2	,	,	PUNCT
fsr-3774	359	3	r.	r.	PROPN
fsr-3774	359	4	,	,	PUNCT
fsr-3774	359	5	olsen	olsen	PROPN
fsr-3774	359	6	,	,	PUNCT
fsr-3774	359	7	c.	c.	PROPN
fsr-3774	359	8	,	,	PUNCT
fsr-3774	359	9	&	&	CCONJ
fsr-3774	359	10	dietrich	dietrich	PROPN
fsr-3774	359	11	,	,	PUNCT
fsr-3774	359	12	r.	r.	PROPN
fsr-3774	359	13	(	(	PUNCT
fsr-3774	359	14	1987	1987	NUM
fsr-3774	359	15	)	)	PUNCT
fsr-3774	359	16	.	.	PUNCT
fsr-3774	360	1	attributes	attribute	NOUN
fsr-3774	360	2	of	of	ADP
fsr-3774	360	3	news	news	NOUN
fsr-3774	360	4	about	about	ADP
fsr-3774	360	5	firms	firm	NOUN
fsr-3774	360	6	:	:	PUNCT
fsr-3774	360	7	an	an	DET
fsr-3774	360	8	analysis	analysis	NOUN
fsr-3774	360	9	of	of	ADP
fsr-3774	360	10	firm	firm	ADJ
fsr-3774	360	11	-	-	PUNCT
fsr-3774	360	12	specific	specific	ADJ
fsr-3774	360	13	news	news	NOUN
fsr-3774	360	14	reported	report	VERB
fsr-3774	360	15	in	in	ADP
fsr-3774	360	16	the	the	DET
fsr-3774	360	17	wall	wall	PROPN
fsr-3774	360	18	street	street	PROPN
fsr-3774	360	19	journal	journal	PROPN
fsr-3774	360	20	index	index	PROPN
fsr-3774	360	21	.	.	PUNCT
fsr-3774	361	1	journal	journal	PROPN
fsr-3774	361	2	ofaccounting	ofaccounte	VERB
fsr-3774	361	3	research	research	NOUN
fsr-3774	361	4	,	,	PUNCT
fsr-3774	361	5	25,245	25,245	NUM
fsr-3774	361	6	-	-	SYM
fsr-3774	361	7	274	274	NUM
fsr-3774	361	8	.	.	PUNCT
fsr-3774	361	9	treynor	treynor	NOUN
fsr-3774	361	10	,	,	PUNCT
fsr-3774	361	11	j.	j.	PROPN
fsr-3774	361	12	,	,	PUNCT
fsr-3774	361	13	&	&	CCONJ
fsr-3774	361	14	wagner	wagner	PROPN
fsr-3774	361	15	,	,	PUNCT
fsr-3774	361	16	w.	w.	PROPN
fsr-3774	361	17	(	(	PUNCT
fsr-3774	361	18	1990	1990	NUM
fsr-3774	361	19	)	)	PUNCT
fsr-3774	361	20	.	.	PUNCT
fsr-3774	362	1	implementation	implementation	NOUN
fsr-3774	362	2	of	of	ADP
fsr-3774	362	3	portfolio	portfolio	NOUN
fsr-3774	362	4	building	building	NOUN
fsr-3774	362	5	:	:	PUNCT
fsr-3774	362	6	execution	execution	NOUN
fsr-3774	362	7	.	.	PUNCT
fsr-3774	363	1	in	in	ADP
fsr-3774	363	2	j.	j.	PROPN
fsr-3774	363	3	maginn	maginn	PROPN
fsr-3774	363	4	&	&	CCONJ
fsr-3774	363	5	d.	d.	PROPN
fsr-3774	363	6	tuttle	tuttle	PROPN
fsr-3774	363	7	(	(	PUNCT
fsr-3774	363	8	eds	eds	PROPN
fsr-3774	363	9	.	.	PUNCT
fsr-3774	363	10	)	)	PUNCT
fsr-3774	363	11	,	,	PUNCT
fsr-3774	363	12	managing	manage	VERB
fsr-3774	363	13	investment	investment	NOUN
fsr-3774	363	14	portfolios	portfolio	NOUN
fsr-3774	363	15	:	:	PUNCT
fsr-3774	363	16	a	a	DET
fsr-3774	363	17	dynamic	dynamic	ADJ
fsr-3774	363	18	process	process	NOUN
fsr-3774	363	19	(	(	PUNCT
fsr-3774	363	20	chap	chap	NOUN
fsr-3774	363	21	.	.	PUNCT
fsr-3774	364	1	12	12	NUM
fsr-3774	364	2	,	,	PUNCT
fsr-3774	364	3	pp	pp	ADJ
fsr-3774	364	4	.	.	PUNCT
fsr-3774	365	1	12/1	12/1	NUM
fsr-3774	365	2	12/50	12/50	NUM
fsr-3774	365	3	)	)	PUNCT
fsr-3774	365	4	.	.	PUNCT
fsr-3774	366	1	boston	boston	PROPN
fsr-3774	366	2	,	,	PUNCT
fsr-3774	366	3	ma	ma	PROPN
fsr-3774	366	4	:	:	PUNCT
fsr-3774	366	5	warren	warren	PROPN
fsr-3774	366	6	,	,	PUNCT
fsr-3774	366	7	gorham	gorham	PROPN
fsr-3774	366	8	and	and	CCONJ
fsr-3774	366	9	lamont	lamont	PROPN
fsr-3774	366	10	.	.	PUNCT