id	sid	tid	token	lemma	pos
fsr-3798	1	1	pii	pii	PROPN
fsr-3798	1	2	:	:	PUNCT
fsr-3798	1	3	s1057	s1057	NOUN
fsr-3798	1	4	-	-	PUNCT
fsr-3798	1	5	0810(96)90006	0810(96)90006	NOUN
fsr-3798	1	6	-	-	PUNCT
fsr-3798	1	7	2	2	NUM
fsr-3798	1	8	financial	financial	ADJ
fsr-3798	1	9	services	service	NOUN
fsr-3798	1	10	review	review	NOUN
fsr-3798	1	11	,	,	PUNCT
fsr-3798	1	12	5(z	5(z	NUM
fsr-3798	1	13	):	):	PUNCT
fsr-3798	1	14	133	133	NUM
fsr-3798	1	15	-	-	SYM
fsr-3798	1	16	148	148	NUM
fsr-3798	1	17	copyright	copyright	NOUN
fsr-3798	1	18	q	q	X
fsr-3798	1	19	1996	1996	NUM
fsr-3798	1	20	by	by	ADP
fsr-3798	1	21	jai	jai	PROPN
fsr-3798	1	22	press	press	PROPN
fsr-3798	1	23	inc	inc	PROPN
fsr-3798	1	24	.	.	PROPN
fsr-3798	1	25	issn	issn	PROPN
fsr-3798	1	26	:	:	PUNCT
fsr-3798	1	27	1057	1057	NUM
fsr-3798	1	28	-	-	SYM
fsr-3798	1	29	0810	0810	NUM
fsr-3798	1	30	all	all	DET
fsr-3798	1	31	rights	right	NOUN
fsr-3798	1	32	of	of	ADP
fsr-3798	1	33	reproduction	reproduction	NOUN
fsr-3798	1	34	in	in	ADP
fsr-3798	1	35	any	any	DET
fsr-3798	1	36	form	form	NOUN
fsr-3798	1	37	reserved	reserve	VERB
fsr-3798	1	38	.	.	PUNCT
fsr-3798	2	1	the	the	DET
fsr-3798	2	2	effects	effect	NOUN
fsr-3798	2	3	of	of	ADP
fsr-3798	2	4	mutual	mutual	ADJ
fsr-3798	2	5	fund	fund	NOUN
fsr-3798	2	6	managers	manager	NOUN
fsr-3798	2	7	’	'	PUNCT
fsr-3798	2	8	~haracte	~haracte	NOUN
fsr-3798	2	9	~	~	SYM
fsr-3798	2	10	stics	stic	NOUN
fsr-3798	2	11	on	on	ADP
fsr-3798	2	12	their	their	PRON
fsr-3798	2	13	por	por	NOUN
fsr-3798	2	14	~	~	NOUN
fsr-3798	2	15	olio	olio	NOUN
fsr-3798	2	16	~e	~e	NUM
fsr-3798	2	17	~	~	SYM
fsr-3798	2	18	ormance	ormance	NOUN
fsr-3798	2	19	,	,	PUNCT
fsr-3798	2	20	risk	risk	NOUN
fsr-3798	2	21	and	and	CCONJ
fsr-3798	2	22	fees	fee	NOUN
fsr-3798	2	23	joseph	joseph	PROPN
fsr-3798	2	24	h.	h.	PROPN
fsr-3798	2	25	golec	golec	VERB
fsr-3798	2	26	the	the	DET
fsr-3798	2	27	purpose	purpose	NOUN
fsr-3798	2	28	of	of	ADP
fsr-3798	2	29	this	this	DET
fsr-3798	2	30	study	study	NOUN
fsr-3798	2	31	is	be	AUX
fsr-3798	2	32	to	to	PART
fsr-3798	2	33	test	test	VERB
fsr-3798	2	34	whether	whether	SCONJ
fsr-3798	2	35	a	a	DET
fsr-3798	2	36	mutual	mutual	ADJ
fsr-3798	2	37	fund	fund	NOUN
fsr-3798	2	38	managers	manager	NOUN
fsr-3798	2	39	’	'	PUNCT
fsr-3798	2	40	characteristics	characteristic	NOUN
fsr-3798	2	41	help	help	VERB
fsr-3798	2	42	to	to	PART
fsr-3798	2	43	explain	explain	VERB
fsr-3798	2	44	fund	fund	NOUN
fsr-3798	2	45	per$ormance	per$ormance	NOUN
fsr-3798	2	46	,	,	PUNCT
fsr-3798	2	47	risk	risk	NOUN
fsr-3798	2	48	and	and	CCONJ
fsr-3798	2	49	fees	fee	NOUN
fsr-3798	2	50	.	.	PUNCT
fsr-3798	3	1	the	the	DET
fsr-3798	3	2	statistical	statistical	ADJ
fsr-3798	3	3	tests	test	NOUN
fsr-3798	3	4	consider	consider	VERB
fsr-3798	3	5	per&or	per&or	NOUN
fsr-3798	3	6	mance	mance	NOUN
fsr-3798	3	7	,	,	PUNCT
fsr-3798	3	8	risk	risk	NOUN
fsr-3798	3	9	andfees	andfee	NOUN
fsr-3798	3	10	simultaneously	simultaneously	ADV
fsr-3798	3	11	to	to	PART
fsr-3798	3	12	avoid	avoid	VERB
fsr-3798	3	13	biased	biased	ADJ
fsr-3798	3	14	results	result	NOUN
fsr-3798	3	15	produced	produce	VERB
fsr-3798	3	16	by	by	ADP
fsr-3798	3	17	earlier	early	ADJ
fsr-3798	3	18	studies	study	NOUN
fsr-3798	3	19	that	that	PRON
fsr-3798	3	20	ignore	ignore	VERB
fsr-3798	3	21	simultaneity	simultaneity	NOUN
fsr-3798	3	22	.	.	PUNCT
fsr-3798	4	1	results	result	NOUN
fsr-3798	4	2	show	show	VERB
fsr-3798	4	3	that	that	SCONJ
fsr-3798	4	4	a	a	DET
fsr-3798	4	5	fund	fund	NOUN
fsr-3798	4	6	’s	’s	PART
fsr-3798	4	7	performance	performance	NOUN
fsr-3798	4	8	,	,	PUNCT
fsr-3798	4	9	risk	risk	NOUN
fsr-3798	4	10	andfees	andfee	NOUN
fsr-3798	4	11	are	be	AUX
fsr-3798	4	12	sig	sig	PRON
fsr-3798	4	13	nificantly	nificantly	ADV
fsr-3798	4	14	impacted	impact	VERB
fsr-3798	4	15	by	by	ADP
fsr-3798	4	16	its	its	PRON
fsr-3798	4	17	manager	manager	NOUN
fsr-3798	4	18	’s	’s	PART
fsr-3798	4	19	characteristics	characteristic	NOUN
fsr-3798	4	20	.	.	PUNCT
fsr-3798	5	1	all	all	PRON
fsr-3798	5	2	else	else	ADV
fsr-3798	5	3	equal	equal	ADJ
fsr-3798	5	4	,	,	PUNCT
fsr-3798	5	5	investors	investor	NOUN
fsr-3798	5	6	can	can	AUX
fsr-3798	5	7	expect	expect	VERB
fsr-3798	5	8	better	well	ADJ
fsr-3798	5	9	risk	risk	NOUN
fsr-3798	5	10	-	-	PUNCT
fsr-3798	5	11	adjusted	adjust	VERB
fsr-3798	5	12	performance	performance	NOUN
fsr-3798	5	13	from	from	ADP
fsr-3798	5	14	younger	young	ADJ
fsr-3798	5	15	managers	manager	NOUN
fsr-3798	5	16	with	with	ADP
fsr-3798	5	17	mba	mba	NOUN
fsr-3798	5	18	degrees	degree	NOUN
fsr-3798	5	19	who	who	PRON
fsr-3798	5	20	have	have	VERB
fsr-3798	5	21	longer	long	ADJ
fsr-3798	5	22	tenure	tenure	NOUN
fsr-3798	5	23	at	at	ADP
fsr-3798	5	24	their	their	PRON
fsr-3798	5	25	funds	fund	NOUN
fsr-3798	5	26	.	.	PUNCT
fsr-3798	6	1	also	also	ADV
fsr-3798	6	2	,	,	PUNCT
fsr-3798	6	3	funds	fund	NOUN
fsr-3798	6	4	with	with	ADP
fsr-3798	6	5	low	low	ADJ
fsr-3798	6	6	fees	fee	NOUN
fsr-3798	6	7	and	and	CCONJ
fsr-3798	6	8	more	more	ADV
fsr-3798	6	9	diversified	diversified	ADJ
fsr-3798	6	10	po	po	NOUN
fsr-3798	6	11	~	~	NOUN
fsr-3798	6	12	olios	olio	NOUN
fsr-3798	6	13	~	~	SYM
fsr-3798	6	14	e	e	NOUN
fsr-3798	6	15	~	~	NOUN
fsr-3798	6	16	o~	o~	NOUN
fsr-3798	6	17	better	well	ADV
fsr-3798	6	18	.	.	PUNCT
fsr-3798	7	1	the	the	DET
fsr-3798	7	2	most	most	ADV
fsr-3798	7	3	sign~~cant	sign~~cant	ADJ
fsr-3798	7	4	predictor	predictor	NOUN
fsr-3798	7	5	ofpe	ofpe	PROPN
fsr-3798	7	6	~	~	PROPN
fsr-3798	7	7	o	o	NOUN
fsr-3798	7	8	~	~	NOUN
fsr-3798	7	9	ance	ance	NOUN
fsr-3798	7	10	is	be	AUX
fsr-3798	7	11	the	the	DET
fsr-3798	7	12	length	length	NOUN
fsr-3798	7	13	of	of	ADP
fsr-3798	7	14	time	time	NOUN
fsr-3798	7	15	a	a	DET
fsr-3798	7	16	manager	manager	NOUN
fsr-3798	7	17	has	have	AUX
fsr-3798	7	18	managed	manage	VERB
fsr-3798	7	19	his	his	PRON
fsr-3798	7	20	or	or	CCONJ
fsr-3798	7	21	her	her	PRON
fsr-3798	7	22	find	find	NOUN
fsr-3798	7	23	(	(	PUNCT
fsr-3798	7	24	tenure	tenure	NOUN
fsr-3798	7	25	)	)	PUNCT
fsr-3798	7	26	.	.	PUNCT
fsr-3798	8	1	funds	fund	NOUN
fsr-3798	8	2	that	that	PRON
fsr-3798	8	3	keep	keep	VERB
fsr-3798	8	4	administrative	administrative	ADJ
fsr-3798	8	5	expenses	expense	NOUN
fsr-3798	8	6	low	low	ADJ
fsr-3798	8	7	also	also	ADV
fsr-3798	8	8	perform	perform	VERB
fsr-3798	8	9	relatively	relatively	ADV
fsr-3798	8	10	well	well	ADV
fsr-3798	8	11	,	,	PUNCT
fsr-3798	8	12	but	but	CCONJ
fsr-3798	8	13	large	large	ADJ
fsr-3798	8	14	management	management	NOUN
fsr-3798	8	15	fees	fee	NOUN
fsr-3798	8	16	do	do	AUX
fsr-3798	8	17	not	not	PART
fsr-3798	8	18	necessar	necessar	VERB
fsr-3798	8	19	ily	ily	ADV
fsr-3798	8	20	imply	imply	VERB
fsr-3798	8	21	poorer	poor	ADJ
fsr-3798	8	22	performance	performance	NOUN
fsr-3798	8	23	.	.	PUNCT
fsr-3798	9	1	apparently	apparently	ADV
fsr-3798	9	2	,	,	PUNCT
fsr-3798	9	3	a	a	DET
fsr-3798	9	4	large	large	ADJ
fsr-3798	9	5	management	management	NOUN
fsr-3798	9	6	fee	fee	NOUN
fsr-3798	9	7	signals	signal	NOUN
fsr-3798	9	8	superior	superior	ADJ
fsr-3798	9	9	inves	inve	NOUN
fsr-3798	9	10	~	~	SYM
fsr-3798	9	11	ent	ent	NOUN
fsr-3798	9	12	skill	skill	NOUN
fsr-3798	9	13	which	which	PRON
fsr-3798	9	14	leads	lead	VERB
fsr-3798	9	15	to	to	ADP
fsr-3798	9	16	better	well	ADJ
fsr-3798	9	17	perfomtance	perfomtance	NOUN
fsr-3798	9	18	.	.	PUNCT
fsr-3798	10	1	i.	i.	PROPN
fsr-3798	10	2	introduction	introduction	NOUN
fsr-3798	10	3	managers	manager	NOUN
fsr-3798	10	4	make	make	VERB
fsr-3798	10	5	investment	investment	NOUN
fsr-3798	10	6	decisions	decision	NOUN
fsr-3798	10	7	based	base	VERB
fsr-3798	10	8	upon	upon	SCONJ
fsr-3798	10	9	their	their	PRON
fsr-3798	10	10	personal	personal	ADJ
fsr-3798	10	11	abilities	ability	NOUN
fsr-3798	10	12	and	and	CCONJ
fsr-3798	10	13	risk	risk	NOUN
fsr-3798	10	14	prefer	prefer	NOUN
fsr-3798	10	15	ences	ence	NOUN
fsr-3798	10	16	.	.	PUNCT
fsr-3798	11	1	this	this	DET
fsr-3798	11	2	paper	paper	NOUN
fsr-3798	11	3	models	model	NOUN
fsr-3798	11	4	a	a	DET
fsr-3798	11	5	simultaneous	simultaneous	ADJ
fsr-3798	11	6	system	system	NOUN
fsr-3798	11	7	for	for	ADP
fsr-3798	11	8	a	a	DET
fsr-3798	11	9	large	large	ADJ
fsr-3798	11	10	sample	sample	NOUN
fsr-3798	11	11	of	of	ADP
fsr-3798	11	12	mutual	mutual	ADJ
fsr-3798	11	13	fund	fund	NOUN
fsr-3798	11	14	manag	manag	NOUN
fsr-3798	11	15	ers	er	NOUN
fsr-3798	11	16	in	in	ADP
fsr-3798	11	17	order	order	NOUN
fsr-3798	11	18	to	to	PART
fsr-3798	11	19	determine	determine	VERB
fsr-3798	11	20	the	the	DET
fsr-3798	11	21	effects	effect	NOUN
fsr-3798	11	22	that	that	SCONJ
fsr-3798	11	23	human	human	ADJ
fsr-3798	11	24	capital	capital	NOUN
fsr-3798	11	25	characteristics	characteristic	NOUN
fsr-3798	11	26	have	have	VERB
fsr-3798	11	27	on	on	ADP
fsr-3798	11	28	fund	fund	NOUN
fsr-3798	11	29	return	return	NOUN
fsr-3798	11	30	performance	performance	NOUN
fsr-3798	11	31	,	,	PUNCT
fsr-3798	11	32	risk	risk	NOUN
fsr-3798	11	33	and	and	CCONJ
fsr-3798	11	34	fees	fee	NOUN
fsr-3798	11	35	.	.	PUNCT
fsr-3798	12	1	that	that	DET
fsr-3798	12	2	fund	fund	NOUN
fsr-3798	12	3	managers	manager	NOUN
fsr-3798	12	4	’	'	PUNCT
fsr-3798	12	5	characteristics	characteristic	NOUN
fsr-3798	12	6	simultaneously	simultaneously	ADV
fsr-3798	12	7	determine	determine	VERB
fsr-3798	12	8	their	their	PRON
fsr-3798	12	9	portfolio	portfolio	NOUN
fsr-3798	12	10	return	return	NOUN
fsr-3798	12	11	performance	performance	NOUN
fsr-3798	12	12	and	and	CCONJ
fsr-3798	12	13	risk	risk	NOUN
fsr-3798	12	14	as	as	ADV
fsr-3798	12	15	well	well	ADV
fsr-3798	12	16	as	as	ADP
fsr-3798	12	17	their	their	PRON
fsr-3798	12	18	own	own	ADJ
fsr-3798	12	19	compensation	compensation	NOUN
fsr-3798	12	20	is	be	AUX
fsr-3798	12	21	not	not	PART
fsr-3798	12	22	surprising	surprising	ADJ
fsr-3798	12	23	;	;	PUNCT
fsr-3798	12	24	yet	yet	ADV
fsr-3798	12	25	,	,	PUNCT
fsr-3798	12	26	earlier	early	ADJ
fsr-3798	12	27	stud	stud	NOUN
fsr-3798	12	28	ies	ie	NOUN
fsr-3798	12	29	have	have	AUX
fsr-3798	12	30	not	not	PART
fsr-3798	12	31	accounted	account	VERB
fsr-3798	12	32	for	for	ADP
fsr-3798	12	33	this	this	DET
fsr-3798	12	34	simultaneity	simultaneity	NOUN
fsr-3798	12	35	.	.	PUNCT
fsr-3798	13	1	for	for	ADP
fsr-3798	13	2	example	example	NOUN
fsr-3798	13	3	,	,	PUNCT
fsr-3798	13	4	it	it	PRON
fsr-3798	13	5	follows	follow	VERB
fsr-3798	13	6	from	from	ADP
fsr-3798	13	7	human	human	ADJ
fsr-3798	13	8	capital	capital	NOUN
fsr-3798	13	9	theory	theory	NOUN
fsr-3798	13	10	that	that	SCONJ
fsr-3798	13	11	managers	manager	NOUN
fsr-3798	13	12	with	with	ADP
fsr-3798	13	13	greater	great	ADJ
fsr-3798	13	14	human	human	ADJ
fsr-3798	13	15	capital	capital	NOUN
fsr-3798	13	16	(	(	PUNCT
fsr-3798	13	17	intelligence	intelligence	NOUN
fsr-3798	13	18	,	,	PUNCT
fsr-3798	13	19	etc	etc	X
fsr-3798	13	20	.	.	X
fsr-3798	13	21	)	)	PUNCT
fsr-3798	13	22	should	should	AUX
fsr-3798	13	23	produce	produce	VERB
fsr-3798	13	24	better	well	ADJ
fsr-3798	13	25	performance	performance	NOUN
fsr-3798	13	26	and	and	CCONJ
fsr-3798	13	27	receive	receive	VERB
fsr-3798	13	28	better	well	ADJ
fsr-3798	13	29	compensation	compensation	NOUN
fsr-3798	13	30	.	.	PUNCT
fsr-3798	14	1	similarly	similarly	ADV
fsr-3798	14	2	,	,	PUNCT
fsr-3798	14	3	agency	agency	NOUN
fsr-3798	14	4	models	model	NOUN
fsr-3798	14	5	,	,	PUNCT
fsr-3798	14	6	such	such	ADJ
fsr-3798	14	7	as	as	ADP
fsr-3798	14	8	those	those	PRON
fsr-3798	14	9	of	of	ADP
fsr-3798	14	10	barry	barry	NOUN
fsr-3798	14	11	and	and	CCONJ
fsr-3798	14	12	starks	stark	NOUN
fsr-3798	14	13	(	(	PUNCT
fsr-3798	14	14	1984	1984	NUM
fsr-3798	14	15	)	)	PUNCT
fsr-3798	14	16	,	,	PUNCT
fsr-3798	14	17	starks	stark	NOUN
fsr-3798	14	18	(	(	PUNCT
fsr-3798	14	19	1987	1987	NUM
fsr-3798	14	20	)	)	PUNCT
fsr-3798	14	21	,	,	PUNCT
fsr-3798	14	22	cohen	cohen	PROPN
fsr-3798	14	23	and	and	CCONJ
fsr-3798	14	24	starks	stark	NOUN
fsr-3798	14	25	(	(	PUNCT
fsr-3798	14	26	1988	1988	NUM
fsr-3798	14	27	)	)	PUNCT
fsr-3798	14	28	,	,	PUNCT
fsr-3798	14	29	and	and	CCONJ
fsr-3798	14	30	golec	golec	NOUN
fsr-3798	14	31	(	(	PUNCT
fsr-3798	14	32	1988	1988	NUM
fsr-3798	14	33	,	,	PUNCT
fsr-3798	14	34	1992	1992	NUM
fsr-3798	14	35	)	)	PUNCT
fsr-3798	14	36	show	show	VERB
fsr-3798	14	37	that	that	SCONJ
fsr-3798	14	38	a	a	DET
fsr-3798	14	39	manger	manger	NOUN
fsr-3798	14	40	’s	’s	PART
fsr-3798	14	41	portfolio	portfolio	NOUN
fsr-3798	14	42	risk	risk	NOUN
fsr-3798	14	43	choices	choice	NOUN
fsr-3798	14	44	will	will	AUX
fsr-3798	14	45	partly	partly	ADV
fsr-3798	14	46	depend	depend	VERB
fsr-3798	14	47	upon	upon	SCONJ
fsr-3798	14	48	his	his	PRON
fsr-3798	14	49	or	or	CCONJ
fsr-3798	14	50	her	her	PRON
fsr-3798	14	51	risk	risk	NOUN
fsr-3798	14	52	-	-	PUNCT
fsr-3798	14	53	taking	take	VERB
fsr-3798	14	54	preferences	preference	NOUN
fsr-3798	14	55	because	because	SCONJ
fsr-3798	14	56	the	the	DET
fsr-3798	14	57	volatility	volatility	NOUN
fsr-3798	14	58	of	of	ADP
fsr-3798	14	59	a	a	DET
fsr-3798	14	60	manager	manager	NOUN
fsr-3798	14	61	’s	’s	PART
fsr-3798	14	62	pay	pay	NOUN
fsr-3798	14	63	is	be	AUX
fsr-3798	14	64	affected	affect	VERB
fsr-3798	14	65	by	by	ADP
fsr-3798	14	66	the	the	DET
fsr-3798	14	67	portfolio	portfolio	NOUN
fsr-3798	14	68	’s	’s	PART
fsr-3798	14	69	perfor	perfor	PROPN
fsr-3798	14	70	joseph	joseph	PROPN
fsr-3798	14	71	ii	ii	PROPN
fsr-3798	14	72	.	.	PUNCT
fsr-3798	14	73	golec	golec	PROPN
fsr-3798	14	74	l	l	PROPN
fsr-3798	14	75	associate	associate	NOUN
fsr-3798	14	76	professor	professor	NOUN
fsr-3798	14	77	of	of	ADP
fsr-3798	14	78	finance	finance	NOUN
fsr-3798	14	79	,	,	PUNCT
fsr-3798	14	80	clark	clark	PROPN
fsr-3798	14	81	university	university	PROPN
fsr-3798	14	82	,	,	PUNCT
fsr-3798	14	83	graduate	graduate	NOUN
fsr-3798	14	84	school	school	NOUN
fsr-3798	14	85	of	of	ADP
fsr-3798	14	86	management	management	NOUN
fsr-3798	14	87	,	,	PUNCT
fsr-3798	14	88	950	950	NUM
fsr-3798	14	89	main	main	ADJ
fsr-3798	14	90	street	street	NOUN
fsr-3798	14	91	,	,	PUNCT
fsr-3798	14	92	worcester	worcester	PROPN
fsr-3798	14	93	,	,	PUNCT
fsr-3798	14	94	ma	ma	PROPN
fsr-3798	14	95	01610	01610	NUM
fsr-3798	14	96	.	.	PUNCT
fsr-3798	15	1	134	134	NUM
fsr-3798	15	2	financial	financial	ADJ
fsr-3798	15	3	services	service	NOUN
fsr-3798	15	4	review	review	NOUN
fsr-3798	15	5	s(2	s(2	NOUN
fsr-3798	15	6	)	)	PUNCT
fsr-3798	15	7	1996	1996	NUM
fsr-3798	15	8	mance	mance	NOUN
fsr-3798	15	9	.	.	PUNCT
fsr-3798	16	1	this	this	DET
fsr-3798	16	2	study	study	NOUN
fsr-3798	16	3	’s	’s	PART
fsr-3798	16	4	statistical	statistical	ADJ
fsr-3798	16	5	approach	approach	NOUN
fsr-3798	16	6	accounts	account	VERB
fsr-3798	16	7	for	for	ADP
fsr-3798	16	8	the	the	DET
fsr-3798	16	9	fact	fact	NOUN
fsr-3798	16	10	that	that	SCONJ
fsr-3798	16	11	performance	performance	NOUN
fsr-3798	16	12	,	,	PUNCT
fsr-3798	16	13	risk	risk	NOUN
fsr-3798	16	14	,	,	PUNCT
fsr-3798	16	15	and	and	CCONJ
fsr-3798	16	16	fees	fee	NOUN
fsr-3798	16	17	are	be	AUX
fsr-3798	16	18	interdependent	interdependent	ADJ
fsr-3798	16	19	.	.	PUNCT
fsr-3798	17	1	mutual	mutual	ADJ
fsr-3798	17	2	fund	fund	NOUN
fsr-3798	17	3	performance	performance	NOUN
fsr-3798	17	4	alone	alone	ADV
fsr-3798	17	5	is	be	AUX
fsr-3798	17	6	an	an	DET
fsr-3798	17	7	important	important	ADJ
fsr-3798	17	8	and	and	CCONJ
fsr-3798	17	9	popular	popular	ADJ
fsr-3798	17	10	finance	finance	NOUN
fsr-3798	17	11	topic	topic	NOUN
fsr-3798	17	12	because	because	SCONJ
fsr-3798	17	13	funds	fund	NOUN
fsr-3798	17	14	positive	positive	ADJ
fsr-3798	17	15	risk	risk	NOUN
fsr-3798	17	16	-	-	PUNCT
fsr-3798	17	17	adjusted	adjust	VERB
fsr-3798	17	18	returns	return	NOUN
fsr-3798	17	19	has	have	VERB
fsr-3798	17	20	implications	implication	NOUN
fsr-3798	17	21	for	for	ADP
fsr-3798	17	22	market	market	NOUN
fsr-3798	17	23	efficiency	efficiency	NOUN
fsr-3798	17	24	.	.	PUNCT
fsr-3798	18	1	most	most	ADJ
fsr-3798	18	2	early	early	ADJ
fsr-3798	18	3	studies	study	NOUN
fsr-3798	18	4	,	,	PUNCT
fsr-3798	18	5	such	such	ADJ
fsr-3798	18	6	as	as	ADP
fsr-3798	18	7	jensen	jensen	PROPN
fsr-3798	18	8	(	(	PUNCT
fsr-3798	18	9	1968	1968	NUM
fsr-3798	18	10	)	)	PUNCT
fsr-3798	18	11	and	and	CCONJ
fsr-3798	18	12	sharpe	sharpe	PROPN
fsr-3798	18	13	(	(	PUNCT
fsr-3798	18	14	1966	1966	NUM
fsr-3798	18	15	)	)	PUNCT
fsr-3798	18	16	,	,	PUNCT
fsr-3798	18	17	report	report	VERB
fsr-3798	18	18	that	that	SCONJ
fsr-3798	18	19	funds	fund	NOUN
fsr-3798	18	20	provide	provide	VERB
fsr-3798	18	21	inferior	inferior	ADJ
fsr-3798	18	22	perfor	perfor	NOUN
fsr-3798	18	23	mance	mance	NOUN
fsr-3798	18	24	partly	partly	ADV
fsr-3798	18	25	because	because	SCONJ
fsr-3798	18	26	of	of	ADP
fsr-3798	18	27	management	management	NOUN
fsr-3798	18	28	fees	fee	NOUN
fsr-3798	18	29	and	and	CCONJ
fsr-3798	18	30	other	other	ADJ
fsr-3798	18	31	expenses	expense	NOUN
fsr-3798	18	32	.	.	PUNCT
fsr-3798	19	1	recently	recently	ADV
fsr-3798	19	2	,	,	PUNCT
fsr-3798	19	3	however	however	ADV
fsr-3798	19	4	,	,	PUNCT
fsr-3798	19	5	ippolito	ippolito	PROPN
fsr-3798	19	6	(	(	PUNCT
fsr-3798	19	7	1989	1989	NUM
fsr-3798	19	8	)	)	PUNCT
fsr-3798	19	9	,	,	PUNCT
fsr-3798	19	10	lee	lee	PROPN
fsr-3798	19	11	and	and	CCONJ
fsr-3798	19	12	rahman	rahman	PROPN
fsr-3798	19	13	(	(	PUNCT
fsr-3798	19	14	1990	1990	NUM
fsr-3798	19	15	)	)	PUNCT
fsr-3798	19	16	,	,	PUNCT
fsr-3798	19	17	grinblatt	grinblatt	NOUN
fsr-3798	19	18	and	and	CCONJ
fsr-3798	19	19	titman	titman	NOUN
fsr-3798	19	20	(	(	PUNCT
fsr-3798	19	21	1989	1989	NUM
fsr-3798	19	22	,	,	PUNCT
fsr-3798	19	23	1992	1992	NUM
fsr-3798	19	24	)	)	PUNCT
fsr-3798	19	25	,	,	PUNCT
fsr-3798	19	26	and	and	CCONJ
fsr-3798	19	27	hendricks	hendrick	NOUN
fsr-3798	19	28	,	,	PUNCT
fsr-3798	19	29	patel	patel	NOUN
fsr-3798	19	30	,	,	PUNCT
fsr-3798	19	31	and	and	CCONJ
fsr-3798	19	32	zeckhauser	zeckhauser	NOUN
fsr-3798	19	33	(	(	PUNCT
fsr-3798	19	34	1993	1993	NUM
fsr-3798	19	35	)	)	PUNCT
fsr-3798	19	36	show	show	VERB
fsr-3798	19	37	that	that	SCONJ
fsr-3798	19	38	mutual	mutual	ADJ
fsr-3798	19	39	funds	fund	NOUN
fsr-3798	19	40	can	can	AUX
fsr-3798	19	41	generate	generate	VERB
fsr-3798	19	42	systematic	systematic	ADJ
fsr-3798	19	43	positive	positive	ADJ
fsr-3798	19	44	risk	risk	NOUN
fsr-3798	19	45	adjusted	adjust	VERB
fsr-3798	19	46	returns	return	NOUN
fsr-3798	19	47	.	.	PUNCT
fsr-3798	20	1	although	although	SCONJ
fsr-3798	20	2	ippolito	ippolito	PROPN
fsr-3798	20	3	’s	’s	PART
fsr-3798	20	4	sample	sample	NOUN
fsr-3798	20	5	of	of	ADP
fsr-3798	20	6	funds	fund	NOUN
fsr-3798	20	7	earned	earn	VERB
fsr-3798	20	8	sufficient	sufficient	ADJ
fsr-3798	20	9	ask	ask	NOUN
fsr-3798	20	10	-	-	PUNCT
fsr-3798	20	11	adjusted	adjust	VERB
fsr-3798	20	12	returns	return	NOUN
fsr-3798	20	13	to	to	PART
fsr-3798	20	14	cover	cover	VERB
fsr-3798	20	15	fees	fee	NOUN
fsr-3798	20	16	,	,	PUNCT
fsr-3798	20	17	elton	elton	PROPN
fsr-3798	20	18	,	,	PUNCT
fsr-3798	20	19	gruber	gruber	PROPN
fsr-3798	20	20	,	,	PUNCT
fsr-3798	20	21	das	das	PROPN
fsr-3798	20	22	,	,	PUNCT
fsr-3798	20	23	and	and	CCONJ
fsr-3798	20	24	hlavka	hlavka	NOUN
fsr-3798	20	25	(	(	PUNCT
fsr-3798	20	26	1993	1993	NUM
fsr-3798	20	27	)	)	PUNCT
fsr-3798	20	28	question	question	NOUN
fsr-3798	20	29	ippolito	ippolito	PROPN
fsr-3798	20	30	’s	’s	PART
fsr-3798	20	31	methods	method	NOUN
fsr-3798	20	32	and	and	CCONJ
fsr-3798	20	33	suggest	suggest	VERB
fsr-3798	20	34	that	that	SCONJ
fsr-3798	20	35	funds	fund	NOUN
fsr-3798	20	36	do	do	AUX
fsr-3798	20	37	not	not	PART
fsr-3798	20	38	exhibit	exhibit	VERB
fsr-3798	20	39	positive	positive	ADJ
fsr-3798	20	40	risk	risk	NOUN
fsr-3798	20	41	-	-	PUNCT
fsr-3798	20	42	adjusted	adjust	VERB
fsr-3798	20	43	returns	return	NOUN
fsr-3798	20	44	.	.	PUNCT
fsr-3798	21	1	whether	whether	SCONJ
fsr-3798	21	2	mutual	mutual	ADJ
fsr-3798	21	3	fund	fund	NOUN
fsr-3798	21	4	managers	manager	NOUN
fsr-3798	21	5	produce	produce	VERB
fsr-3798	21	6	superior	superior	ADJ
fsr-3798	21	7	returns	return	NOUN
fsr-3798	21	8	is	be	AUX
fsr-3798	21	9	controversial	controversial	ADJ
fsr-3798	21	10	because	because	SCONJ
fsr-3798	21	11	most	most	ADJ
fsr-3798	21	12	studies	study	NOUN
fsr-3798	21	13	’	'	PUNCT
fsr-3798	21	14	funds	fund	NOUN
fsr-3798	21	15	,	,	PUNCT
fsr-3798	21	16	sample	sample	NOUN
fsr-3798	21	17	periods	period	NOUN
fsr-3798	21	18	,	,	PUNCT
fsr-3798	21	19	or	or	CCONJ
fsr-3798	21	20	performance	performance	NOUN
fsr-3798	21	21	measures	measure	NOUN
fsr-3798	21	22	are	be	AUX
fsr-3798	21	23	not	not	PART
fsr-3798	21	24	comparable	comparable	ADJ
fsr-3798	21	25	.	.	PUNCT
fsr-3798	22	1	unlike	unlike	ADP
fsr-3798	22	2	ear	ear	X
fsr-3798	22	3	lier	lier	ADJ
fsr-3798	22	4	studies	study	NOUN
fsr-3798	22	5	that	that	PRON
fsr-3798	22	6	try	try	VERB
fsr-3798	22	7	to	to	PART
fsr-3798	22	8	determine	determine	VERB
fsr-3798	22	9	if	if	SCONJ
fsr-3798	22	10	the	the	DET
fsr-3798	22	11	average	average	ADJ
fsr-3798	22	12	risk	risk	NOUN
fsr-3798	22	13	-	-	PUNCT
fsr-3798	22	14	adjusted	adjust	VERB
fsr-3798	22	15	fund	fund	NOUN
fsr-3798	22	16	pe	pe	X
fsr-3798	22	17	~	~	NOUN
fsr-3798	22	18	o	o	NOUN
fsr-3798	22	19	~	~	NOUN
fsr-3798	22	20	ance	ance	NOUN
fsr-3798	22	21	is	be	AUX
fsr-3798	22	22	positive	positive	ADJ
fsr-3798	22	23	,	,	PUNCT
fsr-3798	22	24	this	this	DET
fsr-3798	22	25	study	study	NOUN
fsr-3798	22	26	only	only	ADV
fsr-3798	22	27	requires	require	VERB
fsr-3798	22	28	that	that	SCONJ
fsr-3798	22	29	a	a	DET
fsr-3798	22	30	performance	performance	NOUN
fsr-3798	22	31	measure	measure	NOUN
fsr-3798	22	32	rank	rank	NOUN
fsr-3798	22	33	funds	fund	NOUN
fsr-3798	22	34	appropriately	appropriately	ADV
fsr-3798	22	35	.	.	PUNCT
fsr-3798	23	1	for	for	ADP
fsr-3798	23	2	example	example	NOUN
fsr-3798	23	3	,	,	PUNCT
fsr-3798	23	4	if	if	SCONJ
fsr-3798	23	5	longer	long	ADJ
fsr-3798	23	6	tenure	tenure	NOUN
fsr-3798	23	7	implies	imply	VERB
fsr-3798	23	8	greater	great	ADJ
fsr-3798	23	9	human	human	ADJ
fsr-3798	23	10	capital	capital	NOUN
fsr-3798	23	11	which	which	PRON
fsr-3798	23	12	,	,	PUNCT
fsr-3798	23	13	in	in	ADP
fsr-3798	23	14	turn	turn	NOUN
fsr-3798	23	15	,	,	PUNCT
fsr-3798	23	16	generates	generate	VERB
fsr-3798	23	17	better	well	ADJ
fsr-3798	23	18	performance	performance	NOUN
fsr-3798	23	19	,	,	PUNCT
fsr-3798	23	20	then	then	ADV
fsr-3798	23	21	job	job	NOUN
fsr-3798	23	22	tenure	tenure	NOUN
fsr-3798	23	23	should	should	AUX
fsr-3798	23	24	be	be	AUX
fsr-3798	23	25	positively	positively	ADV
fsr-3798	23	26	related	relate	VERB
fsr-3798	23	27	to	to	ADP
fsr-3798	23	28	performance	performance	NOUN
fsr-3798	23	29	.	.	PUNCT
fsr-3798	24	1	this	this	DET
fsr-3798	24	2	positive	positive	ADJ
fsr-3798	24	3	relationship	relationship	NOUN
fsr-3798	24	4	can	can	AUX
fsr-3798	24	5	be	be	AUX
fsr-3798	24	6	present	present	ADJ
fsr-3798	24	7	even	even	ADV
fsr-3798	24	8	if	if	SCONJ
fsr-3798	24	9	all	all	DET
fsr-3798	24	10	funds	fund	NOUN
fsr-3798	24	11	have	have	VERB
fsr-3798	24	12	negative	negative	ADJ
fsr-3798	24	13	risk	risk	NOUN
fsr-3798	24	14	-	-	PUNCT
fsr-3798	24	15	adjusted	adjust	VERB
fsr-3798	24	16	performance	performance	NOUN
fsr-3798	24	17	;	;	PUNCT
fsr-3798	24	18	long	long	ADV
fsr-3798	24	19	-	-	PUNCT
fsr-3798	24	20	tenured	tenure	VERB
fsr-3798	24	21	manag	manag	NOUN
fsr-3798	24	22	ers	er	NOUN
fsr-3798	24	23	will	will	AUX
fsr-3798	24	24	simply	simply	ADV
fsr-3798	24	25	have	have	VERB
fsr-3798	24	26	less	less	ADV
fsr-3798	24	27	negative	negative	ADJ
fsr-3798	24	28	~~o~~ce	~~o~~ce	NOUN
fsr-3798	24	29	.	.	PUNCT
fsr-3798	25	1	earlier	early	ADJ
fsr-3798	25	2	studies	study	NOUN
fsr-3798	25	3	consider	consider	VERB
fsr-3798	25	4	relatively	relatively	ADV
fsr-3798	25	5	long	long	ADJ
fsr-3798	25	6	time	time	NOUN
fsr-3798	25	7	periods	period	NOUN
fsr-3798	25	8	during	during	ADP
fsr-3798	25	9	which	which	PRON
fsr-3798	25	10	some	some	DET
fsr-3798	25	11	funds	fund	NOUN
fsr-3798	25	12	change	change	VERB
fsr-3798	25	13	managers	manager	NOUN
fsr-3798	25	14	,	,	PUNCT
fsr-3798	25	15	risk	risk	NOUN
fsr-3798	25	16	,	,	PUNCT
fsr-3798	25	17	fees	fee	NOUN
fsr-3798	25	18	or	or	CCONJ
fsr-3798	25	19	objective	objective	NOUN
fsr-3798	25	20	,	,	PUNCT
fsr-3798	25	21	or	or	CCONJ
fsr-3798	25	22	liquidate	liquidate	NOUN
fsr-3798	25	23	.	.	PUNCT
fsr-3798	26	1	here	here	ADV
fsr-3798	26	2	,	,	PUNCT
fsr-3798	26	3	the	the	DET
fsr-3798	26	4	cross	cross	ADJ
fsr-3798	26	5	-	-	ADJ
fsr-3798	26	6	sectional	sectional	ADJ
fsr-3798	26	7	data	datum	NOUN
fsr-3798	26	8	and	and	CCONJ
fsr-3798	26	9	shorter	short	ADJ
fsr-3798	26	10	sample	sample	NOUN
fsr-3798	26	11	period	period	NOUN
fsr-3798	26	12	reduce	reduce	VERB
fsr-3798	26	13	the	the	DET
fsr-3798	26	14	degree	degree	NOUN
fsr-3798	26	15	of	of	ADP
fsr-3798	26	16	fund	fund	NOUN
fsr-3798	26	17	changes	change	NOUN
fsr-3798	26	18	and	and	CCONJ
fsr-3798	26	19	survivorship	survivorship	NOUN
fsr-3798	26	20	bias	bias	NOUN
fsr-3798	26	21	(	(	PUNCT
fsr-3798	26	22	brown	brown	PROPN
fsr-3798	26	23	,	,	PUNCT
fsr-3798	26	24	goetz	goetz	PROPN
fsr-3798	26	25	mann	mann	PROPN
fsr-3798	26	26	,	,	PUNCT
fsr-3798	26	27	ibbotson	ibbotson	PROPN
fsr-3798	26	28	,	,	PUNCT
fsr-3798	26	29	&	&	CCONJ
fsr-3798	26	30	ross	ross	PROPN
fsr-3798	26	31	,	,	PUNCT
fsr-3798	26	32	1992	1992	NUM
fsr-3798	26	33	)	)	PUNCT
fsr-3798	26	34	.	.	PUNCT
fsr-3798	27	1	the	the	DET
fsr-3798	27	2	paper	paper	NOUN
fsr-3798	27	3	is	be	AUX
fsr-3798	27	4	organized	organize	VERB
fsr-3798	27	5	as	as	SCONJ
fsr-3798	27	6	follows	follow	VERB
fsr-3798	27	7	.	.	PUNCT
fsr-3798	28	1	section	section	NOUN
fsr-3798	28	2	i	i	PRON
fsr-3798	28	3	discusses	discuss	VERB
fsr-3798	28	4	the	the	DET
fsr-3798	28	5	statistical	statistical	ADJ
fsr-3798	28	6	procedure	procedure	NOUN
fsr-3798	28	7	used	use	VERB
fsr-3798	28	8	to	to	PART
fsr-3798	28	9	account	account	VERB
fsr-3798	28	10	for	for	ADP
fsr-3798	28	11	simultaneity	simultaneity	NOUN
fsr-3798	28	12	and	and	CCONJ
fsr-3798	28	13	defines	define	VERB
fsr-3798	28	14	the	the	DET
fsr-3798	28	15	study	study	NOUN
fsr-3798	28	16	’s	’s	PART
fsr-3798	28	17	endogenous	endogenous	ADJ
fsr-3798	28	18	and	and	CCONJ
fsr-3798	28	19	exogenous	exogenous	ADJ
fsr-3798	28	20	variables	variable	NOUN
fsr-3798	28	21	.	.	PUNCT
fsr-3798	29	1	sec	sec	PROPN
fsr-3798	29	2	tion	tion	PROPN
fsr-3798	29	3	ii	ii	PROPN
fsr-3798	29	4	describes	describe	VERB
fsr-3798	29	5	the	the	DET
fsr-3798	29	6	data	datum	NOUN
fsr-3798	29	7	.	.	PUNCT
fsr-3798	30	1	section	section	NOUN
fsr-3798	30	2	iii	iii	PROPN
fsr-3798	30	3	presents	present	VERB
fsr-3798	30	4	each	each	DET
fsr-3798	30	5	structural	structural	ADJ
fsr-3798	30	6	equation	equation	NOUN
fsr-3798	30	7	along	along	ADP
fsr-3798	30	8	with	with	ADP
fsr-3798	30	9	the	the	DET
fsr-3798	30	10	results	result	NOUN
fsr-3798	30	11	for	for	ADP
fsr-3798	30	12	each	each	DET
fsr-3798	30	13	equation	equation	NOUN
fsr-3798	30	14	.	.	PUNCT
fsr-3798	31	1	section	section	NOUN
fsr-3798	31	2	iv	iv	NUM
fsr-3798	31	3	considers	consider	VERB
fsr-3798	31	4	the	the	DET
fsr-3798	31	5	issues	issue	NOUN
fsr-3798	31	6	of	of	ADP
fsr-3798	31	7	survivorship	survivorship	NOUN
fsr-3798	31	8	bias	bias	NOUN
fsr-3798	31	9	and	and	CCONJ
fsr-3798	31	10	perfor	perfor	PROPN
fsr-3798	31	11	mance	mance	PROPN
fsr-3798	31	12	measurement	measurement	PROPN
fsr-3798	31	13	.	.	PUNCT
fsr-3798	32	1	section	section	NOUN
fsr-3798	32	2	v	v	NUM
fsr-3798	32	3	summarizes	summarize	VERB
fsr-3798	32	4	the	the	DET
fsr-3798	32	5	results	result	NOUN
fsr-3798	32	6	that	that	PRON
fsr-3798	32	7	have	have	VERB
fsr-3798	32	8	the	the	DET
fsr-3798	32	9	most	most	ADV
fsr-3798	32	10	significant	significant	ADJ
fsr-3798	32	11	implications	implication	NOUN
fsr-3798	32	12	for	for	ADP
fsr-3798	32	13	investors	investor	NOUN
fsr-3798	32	14	’	'	PUNCT
fsr-3798	32	15	choice	choice	NOUN
fsr-3798	32	16	among	among	ADP
fsr-3798	32	17	mutual	mutual	ADJ
fsr-3798	32	18	funds	fund	NOUN
fsr-3798	32	19	and	and	CCONJ
fsr-3798	32	20	their	their	PRON
fsr-3798	32	21	managers	manager	NOUN
fsr-3798	32	22	.	.	PUNCT
fsr-3798	33	1	ii	ii	X
fsr-3798	33	2	.	.	PUNCT
fsr-3798	34	1	three	three	NUM
fsr-3798	34	2	-	-	PUNCT
fsr-3798	34	3	stage	stage	NOUN
fsr-3798	34	4	least	least	ADJ
fsr-3798	34	5	squares	square	VERB
fsr-3798	34	6	many	many	ADJ
fsr-3798	34	7	earlier	early	ADJ
fsr-3798	34	8	studies	study	NOUN
fsr-3798	34	9	,	,	PUNCT
fsr-3798	34	10	such	such	ADJ
fsr-3798	34	11	as	as	ADP
fsr-3798	34	12	sharpe	sharpe	PROPN
fsr-3798	34	13	(	(	PUNCT
fsr-3798	34	14	1966	1966	NUM
fsr-3798	34	15	)	)	PUNCT
fsr-3798	34	16	,	,	PUNCT
fsr-3798	34	17	jensen	jensen	PROPN
fsr-3798	34	18	(	(	PUNCT
fsr-3798	34	19	1968	1968	NUM
fsr-3798	34	20	)	)	PUNCT
fsr-3798	34	21	,	,	PUNCT
fsr-3798	34	22	friend	friend	NOUN
fsr-3798	34	23	and	and	CCONJ
fsr-3798	34	24	blume	blume	PROPN
fsr-3798	34	25	(	(	PUNCT
fsr-3798	34	26	1970	1970	NUM
fsr-3798	34	27	)	)	PUNCT
fsr-3798	34	28	,	,	PUNCT
fsr-3798	34	29	ippolito	ippolito	PROPN
fsr-3798	34	30	(	(	PUNCT
fsr-3798	34	31	1989	1989	NUM
fsr-3798	34	32	)	)	PUNCT
fsr-3798	34	33	,	,	PUNCT
fsr-3798	34	34	grinblatt	grinblatt	NOUN
fsr-3798	34	35	and	and	CCONJ
fsr-3798	34	36	titman	titman	NOUN
fsr-3798	34	37	(	(	PUNCT
fsr-3798	34	38	1989	1989	NUM
fsr-3798	34	39	,	,	PUNCT
fsr-3798	34	40	1992	1992	NUM
fsr-3798	34	41	)	)	PUNCT
fsr-3798	34	42	,	,	PUNCT
fsr-3798	34	43	hendricks	hendrick	NOUN
fsr-3798	34	44	,	,	PUNCT
fsr-3798	34	45	patel	patel	NOUN
fsr-3798	34	46	,	,	PUNCT
fsr-3798	34	47	and	and	CCONJ
fsr-3798	34	48	zeckhauser	zeckhauser	NOUN
fsr-3798	34	49	(	(	PUNCT
fsr-3798	34	50	1993	1993	NUM
fsr-3798	34	51	)	)	PUNCT
fsr-3798	34	52	and	and	CCONJ
fsr-3798	34	53	elton	elton	PROPN
fsr-3798	34	54	et	et	PROPN
fsr-3798	34	55	al	al	PROPN
fsr-3798	34	56	.	.	PROPN
fsr-3798	35	1	(	(	PUNCT
fsr-3798	35	2	1993	1993	NUM
fsr-3798	35	3	)	)	PUNCT
fsr-3798	35	4	,	,	PUNCT
fsr-3798	35	5	compare	compare	VERB
fsr-3798	35	6	mutual	mutual	ADJ
fsr-3798	35	7	funds	fund	NOUN
fsr-3798	35	8	’	'	PUNCT
fsr-3798	35	9	risk	risk	NOUN
fsr-3798	35	10	-	-	PUNCT
fsr-3798	35	11	adjusted	adjust	VERB
fsr-3798	35	12	performance	performance	NOUN
fsr-3798	35	13	,	,	PUNCT
fsr-3798	35	14	as	as	ADV
fsr-3798	35	15	well	well	ADV
fsr-3798	35	16	as	as	ADP
fsr-3798	35	17	other	other	ADJ
fsr-3798	35	18	endogenous	endogenous	ADJ
fsr-3798	35	19	variables	variable	NOUN
fsr-3798	35	20	(	(	PUNCT
fsr-3798	35	21	risk	risk	NOUN
fsr-3798	35	22	or	or	CCONJ
fsr-3798	35	23	fees	fee	NOUN
fsr-3798	35	24	)	)	PUNCT
fsr-3798	35	25	,	,	PUNCT
fsr-3798	35	26	but	but	CCONJ
fsr-3798	35	27	ignore	ignore	VERB
fsr-3798	35	28	the	the	DET
fsr-3798	35	29	fact	fact	NOUN
fsr-3798	35	30	that	that	SCONJ
fsr-3798	35	31	changes	change	NOUN
fsr-3798	35	32	in	in	ADP
fsr-3798	35	33	perfor	perfor	PROPN
fsr-3798	35	34	mance	mance	NOUN
fsr-3798	35	35	,	,	PUNCT
fsr-3798	35	36	risk	risk	NOUN
fsr-3798	35	37	,	,	PUNCT
fsr-3798	35	38	and	and	CCONJ
fsr-3798	35	39	fees	fee	NOUN
fsr-3798	35	40	tend	tend	VERB
fsr-3798	35	41	to	to	PART
fsr-3798	35	42	impact	impact	VERB
fsr-3798	35	43	each	each	DET
fsr-3798	35	44	other	other	ADJ
fsr-3798	35	45	~ontem~~eously	~ontem~~eously	ADV
fsr-3798	35	46	.	.	PUNCT
fsr-3798	36	1	for	for	ADP
fsr-3798	36	2	example	example	NOUN
fsr-3798	36	3	,	,	PUNCT
fsr-3798	36	4	a	a	DET
fsr-3798	36	5	fund	fund	NOUN
fsr-3798	36	6	that	that	PRON
fsr-3798	36	7	increases	increase	VERB
fsr-3798	36	8	fees	fee	NOUN
fsr-3798	36	9	will	will	AUX
fsr-3798	36	10	tend	tend	VERB
fsr-3798	36	11	to	to	PART
fsr-3798	36	12	have	have	VERB
fsr-3798	36	13	poorer	poor	ADJ
fsr-3798	36	14	performance	performance	NOUN
fsr-3798	36	15	,	,	PUNCT
fsr-3798	36	16	all	all	DET
fsr-3798	36	17	else	else	ADV
fsr-3798	36	18	equal	equal	ADJ
fsr-3798	36	19	.	.	PUNCT
fsr-3798	37	1	in	in	ADP
fsr-3798	37	2	this	this	DET
fsr-3798	37	3	case	case	NOUN
fsr-3798	37	4	,	,	PUNCT
fsr-3798	37	5	fees	fee	NOUN
fsr-3798	37	6	enter	enter	VERB
fsr-3798	37	7	as	as	ADP
fsr-3798	37	8	an	an	DET
fsr-3798	37	9	independent	independent	ADJ
fsr-3798	37	10	variable	variable	NOUN
fsr-3798	37	11	in	in	ADP
fsr-3798	37	12	an	an	DET
fsr-3798	37	13	equation	equation	NOUN
fsr-3798	37	14	explaining	explain	VERB
fsr-3798	37	15	performance	performance	NOUN
fsr-3798	37	16	.	.	PUNCT
fsr-3798	38	1	clearly	clearly	ADV
fsr-3798	38	2	,	,	PUNCT
fsr-3798	38	3	errors	error	NOUN
fsr-3798	38	4	in	in	ADP
fsr-3798	38	5	explaining	explain	VERB
fsr-3798	38	6	fees	fee	NOUN
fsr-3798	38	7	will	will	AUX
fsr-3798	38	8	feed	feed	VERB
fsr-3798	38	9	into	into	ADP
fsr-3798	38	10	errors	error	NOUN
fsr-3798	38	11	in	in	ADP
fsr-3798	38	12	explaining	explain	VERB
fsr-3798	38	13	performance	performance	NOUN
fsr-3798	38	14	.	.	PUNCT
fsr-3798	39	1	that	that	PRON
fsr-3798	39	2	is	is	ADV
fsr-3798	39	3	,	,	PUNCT
fsr-3798	39	4	a	a	DET
fsr-3798	39	5	fund	fund	NOUN
fsr-3798	39	6	with	with	ADP
fsr-3798	39	7	unex	unex	ADV
fsr-3798	39	8	plained	plain	VERB
fsr-3798	39	9	large	large	ADJ
fsr-3798	39	10	fees	fee	NOUN
fsr-3798	39	11	will	will	AUX
fsr-3798	39	12	have	have	VERB
fsr-3798	39	13	a	a	DET
fsr-3798	39	14	large	large	ADJ
fsr-3798	39	15	fee	fee	NOUN
fsr-3798	39	16	error	error	NOUN
fsr-3798	39	17	,	,	PUNCT
fsr-3798	39	18	producing	produce	VERB
fsr-3798	39	19	a	a	DET
fsr-3798	39	20	relatively	relatively	ADV
fsr-3798	39	21	large	large	ADJ
fsr-3798	39	22	performance	performance	NOUN
fsr-3798	39	23	error	error	NOUN
fsr-3798	39	24	.	.	PUNCT
fsr-3798	40	1	this	this	PRON
fsr-3798	40	2	means	mean	VERB
fsr-3798	40	3	that	that	SCONJ
fsr-3798	40	4	an	an	DET
fsr-3798	40	5	independent	independent	ADJ
fsr-3798	40	6	variable	variable	NOUN
fsr-3798	40	7	(	(	PUNCT
fsr-3798	40	8	fees	fee	NOUN
fsr-3798	40	9	)	)	PUNCT
fsr-3798	40	10	will	will	AUX
fsr-3798	40	11	be	be	AUX
fsr-3798	40	12	correlated	correlate	VERB
fsr-3798	40	13	with	with	ADP
fsr-3798	40	14	the	the	DET
fsr-3798	40	15	error	error	NOUN
fsr-3798	40	16	term	term	NOUN
fsr-3798	40	17	in	in	ADP
fsr-3798	40	18	the	the	DET
fsr-3798	40	19	performance	performance	NOUN
fsr-3798	40	20	equation	equation	NOUN
fsr-3798	40	21	.	.	PUNCT
fsr-3798	41	1	ordinary	ordinary	ADJ
fsr-3798	41	2	least	least	ADJ
fsr-3798	41	3	squares	square	NOUN
fsr-3798	41	4	(	(	PUNCT
fsr-3798	41	5	ols	ol	NOUN
fsr-3798	41	6	)	)	PUNCT
fsr-3798	41	7	assumes	assume	VERB
fsr-3798	41	8	independent	independent	ADJ
fsr-3798	41	9	variables	variable	NOUN
fsr-3798	41	10	and	and	CCONJ
fsr-3798	41	11	errors	error	NOUN
fsr-3798	41	12	are	be	AUX
fsr-3798	41	13	uncorrelated	uncorrelate	VERB
fsr-3798	41	14	;	;	PUNCT
fsr-3798	41	15	otherwise	otherwise	ADV
fsr-3798	41	16	,	,	PUNCT
fsr-3798	41	17	ols	ol	NOUN
fsr-3798	41	18	coefficient	coefficient	NOUN
fsr-3798	41	19	estimates	estimate	NOUN
fsr-3798	41	20	will	will	AUX
fsr-3798	41	21	be	be	AUX
fsr-3798	41	22	biased	bias	VERB
fsr-3798	41	23	and	and	CCONJ
fsr-3798	41	24	inconsistent	inconsistent	ADJ
fsr-3798	41	25	.	.	PUNCT
fsr-3798	42	1	mutual	mutual	ADJ
fsr-3798	42	2	fund	fund	NOUN
fsr-3798	42	3	managers	manager	NOUN
fsr-3798	42	4	135	135	NUM
fsr-3798	42	5	three	three	NUM
fsr-3798	42	6	-	-	PUNCT
fsr-3798	42	7	stage	stage	NOUN
fsr-3798	42	8	least	least	ADJ
fsr-3798	42	9	squares	square	NOUN
fsr-3798	42	10	(	(	PUNCT
fsr-3798	42	11	3sls	3sls	NOUN
fsr-3798	42	12	)	)	PUNCT
fsr-3798	42	13	offers	offer	VERB
fsr-3798	42	14	consistent	consistent	ADJ
fsr-3798	42	15	estimates	estimate	NOUN
fsr-3798	42	16	and	and	CCONJ
fsr-3798	42	17	the	the	DET
fsr-3798	42	18	large	large	ADJ
fsr-3798	42	19	sample	sample	NOUN
fsr-3798	42	20	used	use	VERB
fsr-3798	42	21	in	in	ADP
fsr-3798	42	22	this	this	DET
fsr-3798	42	23	study	study	NOUN
fsr-3798	42	24	takes	take	VERB
fsr-3798	42	25	full	full	ADJ
fsr-3798	42	26	advantage	advantage	NOUN
fsr-3798	42	27	of	of	ADP
fsr-3798	42	28	this	this	DET
fsr-3798	42	29	consistency	consistency	NOUN
fsr-3798	42	30	.	.	PUNCT
fsr-3798	43	1	for	for	ADP
fsr-3798	43	2	example	example	NOUN
fsr-3798	43	3	,	,	PUNCT
fsr-3798	43	4	3sls	3sls	NOUN
fsr-3798	43	5	eliminates	eliminate	VERB
fsr-3798	43	6	the	the	DET
fsr-3798	43	7	correlation	correlation	NOUN
fsr-3798	43	8	between	between	ADP
fsr-3798	43	9	fees	fee	NOUN
fsr-3798	43	10	and	and	CCONJ
fsr-3798	43	11	errors	error	NOUN
fsr-3798	43	12	in	in	ADP
fsr-3798	43	13	the	the	DET
fsr-3798	43	14	performance	performance	NOUN
fsr-3798	43	15	equation	equation	NOUN
fsr-3798	43	16	by	by	ADP
fsr-3798	43	17	replacing	replace	VERB
fsr-3798	43	18	actual	actual	ADJ
fsr-3798	43	19	fees	fee	NOUN
fsr-3798	43	20	by	by	ADP
fsr-3798	43	21	their	their	PRON
fsr-3798	43	22	estimated	estimate	VERB
fsr-3798	43	23	values	value	NOUN
fsr-3798	43	24	obtained	obtain	VERB
fsr-3798	43	25	by	by	ADP
fsr-3798	43	26	regressing	regress	VERB
fsr-3798	43	27	fees	fee	NOUN
fsr-3798	43	28	on	on	ADP
fsr-3798	43	29	fixed	fix	VERB
fsr-3798	43	30	exogenous	exogenous	ADJ
fsr-3798	43	31	variables	variable	NOUN
fsr-3798	43	32	only	only	ADV
fsr-3798	43	33	.	.	PUNCT
fsr-3798	44	1	in	in	ADP
fsr-3798	44	2	other	other	ADJ
fsr-3798	44	3	words	word	NOUN
fsr-3798	44	4	,	,	PUNCT
fsr-3798	44	5	errors	error	NOUN
fsr-3798	44	6	in	in	ADP
fsr-3798	44	7	fees	fee	NOUN
fsr-3798	44	8	do	do	AUX
fsr-3798	44	9	not	not	PART
fsr-3798	44	10	feed	feed	VERB
fsr-3798	44	11	into	into	ADP
fsr-3798	44	12	the	the	DET
fsr-3798	44	13	performance	performance	NOUN
fsr-3798	44	14	regression	regression	NOUN
fsr-3798	44	15	because	because	SCONJ
fsr-3798	44	16	the	the	DET
fsr-3798	44	17	fee	fee	NOUN
fsr-3798	44	18	errors	error	NOUN
fsr-3798	44	19	are	be	AUX
fsr-3798	44	20	eliminated	eliminate	VERB
fsr-3798	44	21	before	before	SCONJ
fsr-3798	44	22	the	the	DET
fsr-3798	44	23	performance	performance	NOUN
fsr-3798	44	24	regression	regression	NOUN
fsr-3798	44	25	is	be	AUX
fsr-3798	44	26	estimated	estimate	VERB
fsr-3798	44	27	.	.	PUNCT
fsr-3798	45	1	in	in	ADP
fsr-3798	45	2	this	this	DET
fsr-3798	45	3	study	study	NOUN
fsr-3798	45	4	,	,	PUNCT
fsr-3798	45	5	the	the	DET
fsr-3798	45	6	endogenous	endogenous	ADJ
fsr-3798	45	7	or	or	CCONJ
fsr-3798	45	8	simultaneously	simultaneously	ADV
fsr-3798	45	9	determined	determine	VERB
fsr-3798	45	10	variables	variable	NOUN
fsr-3798	45	11	include	include	VERB
fsr-3798	45	12	portfolio	portfolio	NOUN
fsr-3798	45	13	yield	yield	NOUN
fsr-3798	45	14	and	and	CCONJ
fsr-3798	45	15	alpha	alpha	NOUN
fsr-3798	45	16	(	(	PUNCT
fsr-3798	45	17	performance	performance	NOUN
fsr-3798	45	18	)	)	PUNCT
fsr-3798	45	19	;	;	PUNCT
fsr-3798	45	20	portfolio	portfolio	NOUN
fsr-3798	45	21	beta	beta	NOUN
fsr-3798	45	22	and	and	CCONJ
fsr-3798	45	23	the	the	DET
fsr-3798	45	24	standard	standard	ADJ
fsr-3798	45	25	deviation	deviation	NOUN
fsr-3798	45	26	of	of	ADP
fsr-3798	45	27	residual	residual	ADJ
fsr-3798	45	28	portfo	portfo	VERB
fsr-3798	45	29	lio	lio	PROPN
fsr-3798	45	30	returns	return	NOUN
fsr-3798	45	31	(	(	PUNCT
fsr-3798	45	32	risk	risk	NOUN
fsr-3798	45	33	)	)	PUNCT
fsr-3798	45	34	;	;	PUNCT
fsr-3798	45	35	and	and	CCONJ
fsr-3798	45	36	expenses	expense	VERB
fsr-3798	45	37	exclusive	exclusive	ADJ
fsr-3798	45	38	of	of	ADP
fsr-3798	45	39	management	management	NOUN
fsr-3798	45	40	fees	fee	NOUN
fsr-3798	45	41	,	,	PUNCT
fsr-3798	45	42	management	management	NOUN
fsr-3798	45	43	fees	fee	NOUN
fsr-3798	45	44	,	,	PUNCT
fsr-3798	45	45	and	and	CCONJ
fsr-3798	45	46	port	port	NOUN
fsr-3798	45	47	folio	folio	NOUN
fsr-3798	45	48	turnover	turnover	NOUN
fsr-3798	45	49	(	(	PUNCT
fsr-3798	45	50	fees	fee	NOUN
fsr-3798	45	51	)	)	PUNCT
fsr-3798	45	52	.	.	PUNCT
fsr-3798	46	1	exogenous	exogenous	ADJ
fsr-3798	46	2	variables	variable	NOUN
fsr-3798	46	3	include	include	VERB
fsr-3798	46	4	manager	manager	NOUN
fsr-3798	46	5	age	age	NOUN
fsr-3798	46	6	,	,	PUNCT
fsr-3798	46	7	tenure	tenure	NOUN
fsr-3798	46	8	with	with	ADP
fsr-3798	46	9	the	the	DET
fsr-3798	46	10	fund	fund	NOUN
fsr-3798	46	11	,	,	PUNCT
fsr-3798	46	12	years	year	NOUN
fsr-3798	46	13	of	of	ADP
fsr-3798	46	14	education	education	NOUN
fsr-3798	46	15	,	,	PUNCT
fsr-3798	46	16	whether	whether	SCONJ
fsr-3798	46	17	or	or	CCONJ
fsr-3798	46	18	not	not	PART
fsr-3798	46	19	the	the	DET
fsr-3798	46	20	manager	manager	NOUN
fsr-3798	46	21	has	have	VERB
fsr-3798	46	22	an	an	DET
fsr-3798	46	23	mba	mba	NOUN
fsr-3798	46	24	degree	degree	NOUN
fsr-3798	46	25	,	,	PUNCT
fsr-3798	46	26	management	management	NOUN
fsr-3798	46	27	team	team	NOUN
fsr-3798	46	28	size	size	NOUN
fsr-3798	46	29	(	(	PUNCT
fsr-3798	46	30	usu	usu	NOUN
fsr-3798	46	31	ally	ally	NOUN
fsr-3798	46	32	one	one	NUM
fsr-3798	46	33	)	)	PUNCT
fsr-3798	46	34	,	,	PUNCT
fsr-3798	46	35	fund	fund	NOUN
fsr-3798	46	36	age	age	NOUN
fsr-3798	46	37	,	,	PUNCT
fsr-3798	46	38	fund	fund	NOUN
fsr-3798	46	39	assets	asset	NOUN
fsr-3798	46	40	,	,	PUNCT
fsr-3798	46	41	load	load	NOUN
fsr-3798	46	42	charge	charge	NOUN
fsr-3798	46	43	,	,	PUNCT
fsr-3798	46	44	and	and	CCONJ
fsr-3798	46	45	fund	fund	NOUN
fsr-3798	46	46	objective	objective	NOUN
fsr-3798	46	47	.	.	PUNCT
fsr-3798	47	1	yield	yield	NOUN
fsr-3798	47	2	measures	measure	NOUN
fsr-3798	47	3	a	a	DET
fsr-3798	47	4	manager	manager	NOUN
fsr-3798	47	5	’s	’s	PART
fsr-3798	47	6	propensity	propensity	NOUN
fsr-3798	47	7	to	to	PART
fsr-3798	47	8	choose	choose	VERB
fsr-3798	47	9	high	high	ADJ
fsr-3798	47	10	-	-	PUNCT
fsr-3798	47	11	dividend	dividend	NOUN
fsr-3798	47	12	stocks	stock	NOUN
fsr-3798	47	13	.	.	PUNCT
fsr-3798	48	1	because	because	SCONJ
fsr-3798	48	2	man	man	NOUN
fsr-3798	48	3	agement	agement	NOUN
fsr-3798	48	4	fees	fee	NOUN
fsr-3798	48	5	are	be	AUX
fsr-3798	48	6	paid	pay	VERB
fsr-3798	48	7	as	as	ADP
fsr-3798	48	8	a	a	DET
fsr-3798	48	9	proportion	proportion	NOUN
fsr-3798	48	10	of	of	ADP
fsr-3798	48	11	fund	fund	NOUN
fsr-3798	48	12	assets	asset	NOUN
fsr-3798	48	13	,	,	PUNCT
fsr-3798	48	14	the	the	PRON
fsr-3798	48	15	more	more	ADV
fsr-3798	48	16	a	a	DET
fsr-3798	48	17	fund	fund	NOUN
fsr-3798	48	18	pays	pay	VERB
fsr-3798	48	19	out	out	ADP
fsr-3798	48	20	,	,	PUNCT
fsr-3798	48	21	the	the	PRON
fsr-3798	48	22	smaller	small	ADJ
fsr-3798	48	23	its	its	PRON
fsr-3798	48	24	asset	asset	NOUN
fsr-3798	48	25	base	base	NOUN
fsr-3798	48	26	and	and	CCONJ
fsr-3798	48	27	management	management	NOUN
fsr-3798	48	28	fees	fee	NOUN
fsr-3798	48	29	,	,	PUNCT
fsr-3798	48	30	all	all	PRON
fsr-3798	48	31	else	else	ADV
fsr-3798	48	32	equal	equal	ADJ
fsr-3798	48	33	.	.	PUNCT
fsr-3798	49	1	managers	manager	NOUN
fsr-3798	49	2	may	may	AUX
fsr-3798	49	3	choose	choose	VERB
fsr-3798	49	4	stocks	stock	NOUN
fsr-3798	49	5	with	with	ADP
fsr-3798	49	6	large	large	ADJ
fsr-3798	49	7	dividends	dividend	NOUN
fsr-3798	49	8	as	as	ADP
fsr-3798	49	9	a	a	DET
fsr-3798	49	10	consequence	consequence	NOUN
fsr-3798	49	11	of	of	ADP
fsr-3798	49	12	a	a	DET
fsr-3798	49	13	“	"	PUNCT
fsr-3798	49	14	value	value	NOUN
fsr-3798	49	15	”	"	PUNCT
fsr-3798	49	16	investing	invest	VERB
fsr-3798	49	17	style	style	NOUN
fsr-3798	49	18	or	or	CCONJ
fsr-3798	49	19	because	because	SCONJ
fsr-3798	49	20	they	they	PRON
fsr-3798	49	21	believe	believe	VERB
fsr-3798	49	22	they	they	PRON
fsr-3798	49	23	can	can	AUX
fsr-3798	49	24	attract	attract	VERB
fsr-3798	49	25	investors	investor	NOUN
fsr-3798	49	26	who	who	PRON
fsr-3798	49	27	prefer	prefer	VERB
fsr-3798	49	28	large	large	ADJ
fsr-3798	49	29	dividends	dividend	NOUN
fsr-3798	49	30	.	.	PUNCT
fsr-3798	50	1	conversely	conversely	ADV
fsr-3798	50	2	,	,	PUNCT
fsr-3798	50	3	a	a	DET
fsr-3798	50	4	“	"	PUNCT
fsr-3798	50	5	growth	growth	NOUN
fsr-3798	50	6	”	"	PUNCT
fsr-3798	50	7	style	style	NOUN
fsr-3798	50	8	or	or	CCONJ
fsr-3798	50	9	investors	investor	NOUN
fsr-3798	50	10	who	who	PRON
fsr-3798	50	11	prefer	prefer	VERB
fsr-3798	50	12	small	small	ADJ
fsr-3798	50	13	dividends	dividend	NOUN
fsr-3798	50	14	(	(	PUNCT
fsr-3798	50	15	tax	tax	NOUN
fsr-3798	50	16	avoidance	avoidance	NOUN
fsr-3798	50	17	)	)	PUNCT
fsr-3798	50	18	may	may	AUX
fsr-3798	50	19	imply	imply	VERB
fsr-3798	50	20	small	small	ADJ
fsr-3798	50	21	dividends	dividend	NOUN
fsr-3798	50	22	.	.	PUNCT
fsr-3798	51	1	alpha	alpha	NOUN
fsr-3798	51	2	is	be	AUX
fsr-3798	51	3	jensen	jensen	PROPN
fsr-3798	51	4	’s	’s	PART
fsr-3798	51	5	measure	measure	NOUN
fsr-3798	51	6	of	of	ADP
fsr-3798	51	7	return	return	NOUN
fsr-3798	51	8	performance	performance	NOUN
fsr-3798	51	9	adjusted	adjust	VERB
fsr-3798	51	10	for	for	ADP
fsr-3798	51	11	systematic	systematic	ADJ
fsr-3798	51	12	risk	risk	NOUN
fsr-3798	51	13	.	.	PUNCT
fsr-3798	52	1	alpha	alpha	NOUN
fsr-3798	52	2	measures	measure	NOUN
fsr-3798	52	3	the	the	DET
fsr-3798	52	4	portfolio	portfolio	NOUN
fsr-3798	52	5	return	return	VERB
fsr-3798	52	6	attributable	attributable	ADJ
fsr-3798	52	7	to	to	ADP
fsr-3798	52	8	the	the	DET
fsr-3798	52	9	manager	manager	NOUN
fsr-3798	52	10	’s	’s	PART
fsr-3798	52	11	skill	skill	NOUN
fsr-3798	52	12	(	(	PUNCT
fsr-3798	52	13	or	or	CCONJ
fsr-3798	52	14	luck	luck	NOUN
fsr-3798	52	15	)	)	PUNCT
fsr-3798	52	16	.	.	PUNCT
fsr-3798	53	1	systematic	systematic	ADJ
fsr-3798	53	2	risk	risk	NOUN
fsr-3798	53	3	is	be	AUX
fsr-3798	53	4	measured	measure	VERB
fsr-3798	53	5	by	by	ADP
fsr-3798	53	6	beta	beta	NOUN
fsr-3798	53	7	.	.	PUNCT
fsr-3798	54	1	unsystematic	unsystematic	ADJ
fsr-3798	54	2	risk	risk	NOUN
fsr-3798	54	3	is	be	AUX
fsr-3798	54	4	the	the	DET
fsr-3798	54	5	residual	residual	ADJ
fsr-3798	54	6	variation	variation	NOUN
fsr-3798	54	7	in	in	ADP
fsr-3798	54	8	portfolio	portfolio	NOUN
fsr-3798	54	9	return	return	NOUN
fsr-3798	54	10	after	after	ADP
fsr-3798	54	11	accounting	account	VERB
fsr-3798	54	12	for	for	ADP
fsr-3798	54	13	variation	variation	NOUN
fsr-3798	54	14	due	due	ADP
fsr-3798	54	15	to	to	ADP
fsr-3798	54	16	beta	beta	ADJ
fsr-3798	54	17	risk	risk	NOUN
fsr-3798	54	18	.	.	PUNCT
fsr-3798	55	1	it	it	PRON
fsr-3798	55	2	measures	measure	VERB
fsr-3798	55	3	the	the	DET
fsr-3798	55	4	degree	degree	NOUN
fsr-3798	55	5	of	of	ADP
fsr-3798	55	6	portfolio	portfolio	NOUN
fsr-3798	55	7	diversification	diversification	NOUN
fsr-3798	55	8	and	and	CCONJ
fsr-3798	55	9	beta	beta	NOUN
fsr-3798	55	10	stability	stability	NOUN
fsr-3798	55	11	.	.	PUNCT
fsr-3798	56	1	managers	manager	NOUN
fsr-3798	56	2	must	must	AUX
fsr-3798	56	3	deviate	deviate	VERB
fsr-3798	56	4	from	from	ADP
fsr-3798	56	5	a	a	DET
fsr-3798	56	6	perfectly	perfectly	ADV
fsr-3798	56	7	diversified	diversify	VERB
fsr-3798	56	8	fixed	fix	VERB
fsr-3798	56	9	-	-	PUNCT
fsr-3798	56	10	beta	beta	NOUN
fsr-3798	56	11	portfolio	portfolio	NOUN
fsr-3798	56	12	if	if	SCONJ
fsr-3798	56	13	they	they	PRON
fsr-3798	56	14	wish	wish	VERB
fsr-3798	56	15	to	to	PART
fsr-3798	56	16	obtain	obtain	VERB
fsr-3798	56	17	a	a	DET
fsr-3798	56	18	nonzero	nonzero	ADJ
fsr-3798	56	19	alpha	alpha	NOUN
fsr-3798	56	20	.	.	PUNCT
fsr-3798	57	1	expenses	expense	NOUN
fsr-3798	57	2	exclusive	exclusive	ADJ
fsr-3798	57	3	of	of	ADP
fsr-3798	57	4	management	management	NOUN
fsr-3798	57	5	fees	fee	NOUN
fsr-3798	57	6	measure	measure	VERB
fsr-3798	57	7	administrative	administrative	ADJ
fsr-3798	57	8	,	,	PUNCT
fsr-3798	57	9	operating	operating	NOUN
fsr-3798	57	10	,	,	PUNCT
fsr-3798	57	11	and	and	CCONJ
fsr-3798	57	12	cus	cus	PROPN
fsr-3798	57	13	tomer	tomer	PROPN
fsr-3798	57	14	service	service	NOUN
fsr-3798	57	15	expenses	expense	NOUN
fsr-3798	57	16	including	include	VERB
fsr-3798	57	17	12b-1	12b-1	NUM
fsr-3798	57	18	fees	fee	NOUN
fsr-3798	57	19	.	.	PUNCT
fsr-3798	58	1	management	management	NOUN
fsr-3798	58	2	fees	fee	NOUN
fsr-3798	58	3	are	be	AUX
fsr-3798	58	4	charged	charge	VERB
fsr-3798	58	5	by	by	ADP
fsr-3798	58	6	the	the	DET
fsr-3798	58	7	fund	fund	NOUN
fsr-3798	58	8	’s	’s	PART
fsr-3798	58	9	management	management	NOUN
fsr-3798	58	10	company	company	NOUN
fsr-3798	58	11	to	to	PART
fsr-3798	58	12	cover	cover	VERB
fsr-3798	58	13	the	the	DET
fsr-3798	58	14	portfolio	portfolio	NOUN
fsr-3798	58	15	manager	manager	NOUN
fsr-3798	58	16	’s	’s	PART
fsr-3798	58	17	compensation	compensation	NOUN
fsr-3798	58	18	,	,	PUNCT
fsr-3798	58	19	as	as	ADV
fsr-3798	58	20	well	well	ADV
fsr-3798	58	21	as	as	ADP
fsr-3798	58	22	their	their	PRON
fsr-3798	58	23	operating	operating	NOUN
fsr-3798	58	24	expenses	expense	NOUN
fsr-3798	58	25	,	,	PUNCT
fsr-3798	58	26	research	research	NOUN
fsr-3798	58	27	support	support	NOUN
fsr-3798	58	28	,	,	PUNCT
fsr-3798	58	29	and	and	CCONJ
fsr-3798	58	30	profit	profit	NOUN
fsr-3798	58	31	.	.	PUNCT
fsr-3798	59	1	although	although	SCONJ
fsr-3798	59	2	manager	manager	NOUN
fsr-3798	59	3	pay	pay	NOUN
fsr-3798	59	4	is	be	AUX
fsr-3798	59	5	not	not	PART
fsr-3798	59	6	separately	separately	ADV
fsr-3798	59	7	available	available	ADJ
fsr-3798	59	8	,	,	PUNCT
fsr-3798	59	9	it	it	PRON
fsr-3798	59	10	is	be	AUX
fsr-3798	59	11	assumed	assume	VERB
fsr-3798	59	12	that	that	SCONJ
fsr-3798	59	13	larger	large	ADJ
fsr-3798	59	14	pay	pay	NOUN
fsr-3798	59	15	leads	lead	VERB
fsr-3798	59	16	to	to	ADP
fsr-3798	59	17	larger	large	ADJ
fsr-3798	59	18	fees	fee	NOUN
fsr-3798	59	19	.	.	PUNCT
fsr-3798	60	1	portfolio	portfolio	NOUN
fsr-3798	60	2	turnover	turnover	NOUN
fsr-3798	60	3	measures	measure	VERB
fsr-3798	60	4	the	the	DET
fsr-3798	60	5	manager	manager	NOUN
fsr-3798	60	6	’s	’s	PART
fsr-3798	60	7	trading	trading	NOUN
fsr-3798	60	8	propensity	propensity	NOUN
fsr-3798	60	9	.	.	PUNCT
fsr-3798	61	1	trueman	trueman	NOUN
fsr-3798	61	2	(	(	PUNCT
fsr-3798	61	3	1988	1988	NUM
fsr-3798	61	4	)	)	PUNCT
fsr-3798	61	5	sug	sug	NOUN
fsr-3798	61	6	gests	gest	VERB
fsr-3798	61	7	that	that	SCONJ
fsr-3798	61	8	trading	trading	NOUN
fsr-3798	61	9	is	be	AUX
fsr-3798	61	10	a	a	DET
fsr-3798	61	11	signal	signal	NOUN
fsr-3798	61	12	that	that	SCONJ
fsr-3798	61	13	a	a	DET
fsr-3798	61	14	manager	manager	NOUN
fsr-3798	61	15	is	be	AUX
fsr-3798	61	16	gathering	gather	VERB
fsr-3798	61	17	and	and	CCONJ
fsr-3798	61	18	trading	trading	NOUN
fsr-3798	61	19	on	on	ADP
fsr-3798	61	20	information	information	NOUN
fsr-3798	61	21	.	.	PUNCT
fsr-3798	62	1	like	like	ADP
fsr-3798	62	2	management	management	NOUN
fsr-3798	62	3	fees	fee	NOUN
fsr-3798	62	4	and	and	CCONJ
fsr-3798	62	5	expenses	expense	NOUN
fsr-3798	62	6	,	,	PUNCT
fsr-3798	62	7	increased	increase	VERB
fsr-3798	62	8	turnover	turnover	NOUN
fsr-3798	62	9	increases	increase	VERB
fsr-3798	62	10	costs	cost	NOUN
fsr-3798	62	11	which	which	PRON
fsr-3798	62	12	are	be	AUX
fsr-3798	62	13	paid	pay	VERB
fsr-3798	62	14	out	out	ADP
fsr-3798	62	15	of	of	ADP
fsr-3798	62	16	returns	return	NOUN
fsr-3798	62	17	.	.	PUNCT
fsr-3798	63	1	on	on	ADP
fsr-3798	63	2	the	the	DET
fsr-3798	63	3	other	other	ADJ
fsr-3798	63	4	hand	hand	NOUN
fsr-3798	63	5	,	,	PUNCT
fsr-3798	63	6	management	management	NOUN
fsr-3798	63	7	fees	fee	NOUN
fsr-3798	63	8	and	and	CCONJ
fsr-3798	63	9	turnover	turnover	NOUN
fsr-3798	63	10	costs	cost	NOUN
fsr-3798	63	11	are	be	AUX
fsr-3798	63	12	presumably	presumably	ADV
fsr-3798	63	13	paid	pay	VERB
fsr-3798	63	14	to	to	PART
fsr-3798	63	15	facilitate	facilitate	VERB
fsr-3798	63	16	return	return	NOUN
fsr-3798	63	17	-	-	PUNCT
fsr-3798	63	18	producing	produce	VERB
fsr-3798	63	19	input	input	NOUN
fsr-3798	63	20	by	by	ADP
fsr-3798	63	21	fund	fund	NOUN
fsr-3798	63	22	managers	manager	NOUN
fsr-3798	63	23	.	.	PUNCT
fsr-3798	64	1	manager	manager	NOUN
fsr-3798	64	2	age	age	NOUN
fsr-3798	64	3	measures	measure	NOUN
fsr-3798	64	4	experience	experience	NOUN
fsr-3798	64	5	but	but	CCONJ
fsr-3798	64	6	also	also	ADV
fsr-3798	64	7	gauges	gauge	VERB
fsr-3798	64	8	stamina	stamina	NOUN
fsr-3798	64	9	for	for	ADP
fsr-3798	64	10	a	a	DET
fsr-3798	64	11	demanding	demanding	ADJ
fsr-3798	64	12	job	job	NOUN
fsr-3798	64	13	.	.	PUNCT
fsr-3798	65	1	many	many	ADJ
fsr-3798	65	2	in	in	ADP
fsr-3798	65	3	the	the	DET
fsr-3798	65	4	mutual	mutual	ADJ
fsr-3798	65	5	fund	fund	NOUN
fsr-3798	65	6	industry	industry	NOUN
fsr-3798	65	7	believe	believe	VERB
fsr-3798	65	8	that	that	SCONJ
fsr-3798	65	9	investment	investment	NOUN
fsr-3798	65	10	management	management	NOUN
fsr-3798	65	11	is	be	AUX
fsr-3798	65	12	so	so	ADV
fsr-3798	65	13	demanding	demanding	ADJ
fsr-3798	65	14	that	that	SCONJ
fsr-3798	65	15	the	the	DET
fsr-3798	65	16	negative	negative	ADJ
fsr-3798	65	17	impact	impact	NOUN
fsr-3798	65	18	of	of	ADP
fsr-3798	65	19	age	age	NOUN
fsr-3798	65	20	on	on	ADP
fsr-3798	65	21	stamina	stamina	NOUN
fsr-3798	65	22	leads	lead	VERB
fsr-3798	65	23	to	to	ADP
fsr-3798	65	24	poorer	poor	ADJ
fsr-3798	65	25	performance	performance	NOUN
fsr-3798	65	26	.	.	PUNCT
fsr-3798	66	1	in	in	ADP
fsr-3798	66	2	addition	addition	NOUN
fsr-3798	66	3	,	,	PUNCT
fsr-3798	66	4	age	age	NOUN
fsr-3798	66	5	indirectly	indirectly	ADV
fsr-3798	66	6	measures	measure	VERB
fsr-3798	66	7	time	time	NOUN
fsr-3798	66	8	until	until	ADP
fsr-3798	66	9	retirement	retirement	NOUN
fsr-3798	66	10	and	and	CCONJ
fsr-3798	66	11	,	,	PUNCT
fsr-3798	66	12	hence	hence	ADV
fsr-3798	66	13	,	,	PUNCT
fsr-3798	66	14	the	the	DET
fsr-3798	66	15	importance	importance	NOUN
fsr-3798	66	16	of	of	ADP
fsr-3798	66	17	future	future	ADJ
fsr-3798	66	18	job	job	NOUN
fsr-3798	66	19	income	income	NOUN
fsr-3798	66	20	to	to	ADP
fsr-3798	66	21	the	the	DET
fsr-3798	66	22	man	man	NOUN
fsr-3798	66	23	ager	ag	ADJ
fsr-3798	66	24	.	.	PUNCT
fsr-3798	67	1	if	if	SCONJ
fsr-3798	67	2	tenure	tenure	NOUN
fsr-3798	67	3	is	be	AUX
fsr-3798	67	4	a	a	DET
fsr-3798	67	5	better	well	ADJ
fsr-3798	67	6	measure	measure	NOUN
fsr-3798	67	7	of	of	ADP
fsr-3798	67	8	experience	experience	NOUN
fsr-3798	67	9	than	than	ADP
fsr-3798	67	10	age	age	NOUN
fsr-3798	67	11	,	,	PUNCT
fsr-3798	67	12	age	age	NOUN
fsr-3798	67	13	may	may	AUX
fsr-3798	67	14	largely	largely	ADV
fsr-3798	67	15	capture	capture	VERB
fsr-3798	67	16	the	the	DET
fsr-3798	67	17	neg	neg	ADJ
fsr-3798	67	18	ative	ative	ADJ
fsr-3798	67	19	stamina	stamina	NOUN
fsr-3798	67	20	effect	effect	NOUN
fsr-3798	67	21	.	.	PUNCT
fsr-3798	68	1	tenure	tenure	NOUN
fsr-3798	68	2	measures	measure	VERB
fsr-3798	68	3	the	the	DET
fsr-3798	68	4	manager	manager	NOUN
fsr-3798	68	5	’s	’s	PART
fsr-3798	68	6	survivorship	survivorship	NOUN
fsr-3798	68	7	at	at	ADP
fsr-3798	68	8	the	the	DET
fsr-3798	68	9	job	job	NOUN
fsr-3798	68	10	.	.	PUNCT
fsr-3798	69	1	long	long	ADJ
fsr-3798	69	2	tenure	tenure	NOUN
fsr-3798	69	3	implies	imply	VERB
fsr-3798	69	4	that	that	SCONJ
fsr-3798	69	5	the	the	DET
fsr-3798	69	6	management	management	NOUN
fsr-3798	69	7	company	company	NOUN
fsr-3798	69	8	finds	find	VERB
fsr-3798	69	9	the	the	DET
fsr-3798	69	10	manager	manager	NOUN
fsr-3798	69	11	’s	’s	PART
fsr-3798	69	12	ability	ability	NOUN
fsr-3798	69	13	and	and	CCONJ
fsr-3798	69	14	performance	performance	NOUN
fsr-3798	69	15	satis	satis	NOUN
fsr-3798	69	16	factory	factory	NOUN
fsr-3798	69	17	but	but	CCONJ
fsr-3798	69	18	may	may	AUX
fsr-3798	69	19	also	also	ADV
fsr-3798	69	20	indicate	indicate	VERB
fsr-3798	69	21	that	that	SCONJ
fsr-3798	69	22	the	the	DET
fsr-3798	69	23	manager	manager	NOUN
fsr-3798	69	24	has	have	VERB
fsr-3798	69	25	few	few	ADJ
fsr-3798	69	26	better	well	ADJ
fsr-3798	69	27	opportunities	opportunity	NOUN
fsr-3798	69	28	because	because	SCONJ
fsr-3798	69	29	of	of	ADP
fsr-3798	69	30	spe	spe	PROPN
fsr-3798	69	31	cialized	cialize	VERB
fsr-3798	69	32	skills	skill	NOUN
fsr-3798	69	33	or	or	CCONJ
fsr-3798	69	34	an	an	DET
fsr-3798	69	35	unspectacular	unspectacular	ADJ
fsr-3798	69	36	performance	performance	NOUN
fsr-3798	69	37	record	record	NOUN
fsr-3798	69	38	.	.	PUNCT
fsr-3798	70	1	years	year	NOUN
fsr-3798	70	2	of	of	ADP
fsr-3798	70	3	education	education	NOUN
fsr-3798	70	4	measures	measure	NOUN
fsr-3798	70	5	accumulated	accumulate	VERB
fsr-3798	70	6	general	general	ADJ
fsr-3798	70	7	knowledge	knowledge	NOUN
fsr-3798	70	8	while	while	SCONJ
fsr-3798	70	9	mba	mba	NOUN
fsr-3798	70	10	measures	measure	NOUN
fsr-3798	70	11	business	business	NOUN
fsr-3798	70	12	-	-	PUNCT
fsr-3798	70	13	specific	specific	ADJ
fsr-3798	70	14	knowledge	knowledge	NOUN
fsr-3798	70	15	.	.	PUNCT
fsr-3798	71	1	an	an	DET
fsr-3798	71	2	mba	mba	NOUN
fsr-3798	71	3	should	should	AUX
fsr-3798	71	4	know	know	VERB
fsr-3798	71	5	some	some	DET
fsr-3798	71	6	basic	basic	ADJ
fsr-3798	71	7	tenets	tenet	NOUN
fsr-3798	71	8	of	of	ADP
fsr-3798	71	9	investing	invest	VERB
fsr-3798	71	10	as	as	ADV
fsr-3798	71	11	well	well	ADV
fsr-3798	71	12	as	as	ADP
fsr-3798	71	13	how	how	SCONJ
fsr-3798	71	14	to	to	PART
fsr-3798	71	15	recognize	recognize	VERB
fsr-3798	71	16	firms	firm	NOUN
fsr-3798	71	17	with	with	ADP
fsr-3798	71	18	good	good	ADJ
fsr-3798	71	19	management	management	NOUN
fsr-3798	71	20	.	.	PUNCT
fsr-3798	72	1	team	team	NOUN
fsr-3798	72	2	size	size	NOUN
fsr-3798	72	3	will	will	AUX
fsr-3798	72	4	measure	measure	VERB
fsr-3798	72	5	whether	whether	SCONJ
fsr-3798	72	6	more	more	ADJ
fsr-3798	72	7	heads	head	NOUN
fsr-3798	72	8	are	be	AUX
fsr-3798	72	9	better	well	ADJ
fsr-3798	72	10	than	than	ADP
fsr-3798	72	11	one	one	NUM
fsr-3798	72	12	or	or	CCONJ
fsr-3798	72	13	if	if	SCONJ
fsr-3798	72	14	investment	investment	NOUN
fsr-3798	72	15	decisions	decision	NOUN
fsr-3798	72	16	made	make	VERB
fsr-3798	72	17	by	by	ADP
fsr-3798	72	18	committee	committee	NOUN
fsr-3798	72	19	are	be	AUX
fsr-3798	72	20	ineffective	ineffective	ADJ
fsr-3798	72	21	.	.	PUNCT
fsr-3798	73	1	136	136	NUM
fsr-3798	73	2	financial	financial	ADJ
fsr-3798	73	3	services	service	NOUN
fsr-3798	73	4	review	review	VERB
fsr-3798	73	5	5(2	5(2	NUM
fsr-3798	73	6	)	)	PUNCT
fsr-3798	73	7	1996	1996	NUM
fsr-3798	73	8	fund	fund	NOUN
fsr-3798	73	9	age	age	NOUN
fsr-3798	73	10	measures	measure	VERB
fsr-3798	73	11	a	a	DET
fsr-3798	73	12	fund	fund	NOUN
fsr-3798	73	13	’s	’s	PART
fsr-3798	73	14	survivorship	survivorship	NOUN
fsr-3798	73	15	,	,	PUNCT
fsr-3798	73	16	its	its	PRON
fsr-3798	73	17	prestige	prestige	NOUN
fsr-3798	73	18	,	,	PUNCT
fsr-3798	73	19	and	and	CCONJ
fsr-3798	73	20	the	the	DET
fsr-3798	73	21	loyalty	loyalty	NOUN
fsr-3798	73	22	of	of	ADP
fsr-3798	73	23	its	its	PRON
fsr-3798	73	24	investors	investor	NOUN
fsr-3798	73	25	.	.	PUNCT
fsr-3798	74	1	fund	fund	NOUN
fsr-3798	74	2	assets	asset	NOUN
fsr-3798	74	3	measure	measure	VERB
fsr-3798	74	4	a	a	DET
fsr-3798	74	5	fund	fund	NOUN
fsr-3798	74	6	’s	’s	PART
fsr-3798	74	7	market	market	NOUN
fsr-3798	74	8	acceptance	acceptance	NOUN
fsr-3798	74	9	,	,	PUNCT
fsr-3798	74	10	past	past	ADJ
fsr-3798	74	11	growth	growth	NOUN
fsr-3798	74	12	,	,	PUNCT
fsr-3798	74	13	and	and	CCONJ
fsr-3798	74	14	economies	economy	NOUN
fsr-3798	74	15	of	of	ADP
fsr-3798	74	16	scale	scale	NOUN
fsr-3798	74	17	.	.	PUNCT
fsr-3798	75	1	load	load	NOUN
fsr-3798	75	2	is	be	AUX
fsr-3798	75	3	an	an	DET
fsr-3798	75	4	additional	additional	ADJ
fsr-3798	75	5	expense	expense	NOUN
fsr-3798	75	6	paid	pay	VERB
fsr-3798	75	7	by	by	ADP
fsr-3798	75	8	investors	investor	NOUN
fsr-3798	75	9	of	of	ADP
fsr-3798	75	10	some	some	DET
fsr-3798	75	11	funds	fund	NOUN
fsr-3798	75	12	and	and	CCONJ
fsr-3798	75	13	,	,	PUNCT
fsr-3798	75	14	thus	thus	ADV
fsr-3798	75	15	,	,	PUNCT
fsr-3798	75	16	load	load	NOUN
fsr-3798	75	17	funds	fund	NOUN
fsr-3798	75	18	may	may	AUX
fsr-3798	75	19	have	have	VERB
fsr-3798	75	20	to	to	PART
fsr-3798	75	21	reduce	reduce	VERB
fsr-3798	75	22	other	other	ADJ
fsr-3798	75	23	fees	fee	NOUN
fsr-3798	75	24	in	in	ADP
fsr-3798	75	25	order	order	NOUN
fsr-3798	75	26	to	to	PART
fsr-3798	75	27	compete	compete	VERB
fsr-3798	75	28	.	.	PUNCT
fsr-3798	76	1	finally	finally	ADV
fsr-3798	76	2	,	,	PUNCT
fsr-3798	76	3	the	the	DET
fsr-3798	76	4	funds	fund	NOUN
fsr-3798	76	5	used	use	VERB
fsr-3798	76	6	in	in	ADP
fsr-3798	76	7	this	this	DET
fsr-3798	76	8	study	study	NOUN
fsr-3798	76	9	are	be	AUX
fsr-3798	76	10	pri	pri	NOUN
fsr-3798	76	11	marily	marily	ADV
fsr-3798	76	12	stock	stock	NOUN
fsr-3798	76	13	funds	fund	NOUN
fsr-3798	76	14	with	with	ADP
fsr-3798	76	15	objectives	objective	NOUN
fsr-3798	76	16	including	include	VERB
fsr-3798	76	17	growth	growth	NOUN
fsr-3798	76	18	,	,	PUNCT
fsr-3798	76	19	aggressive	aggressive	ADJ
fsr-3798	76	20	growth	growth	NOUN
fsr-3798	76	21	,	,	PUNCT
fsr-3798	76	22	growth	growth	NOUN
fsr-3798	76	23	and	and	CCONJ
fsr-3798	76	24	income	income	NOUN
fsr-3798	76	25	,	,	PUNCT
fsr-3798	76	26	small	small	ADJ
fsr-3798	76	27	stocks	stock	NOUN
fsr-3798	76	28	,	,	PUNCT
fsr-3798	76	29	specialized	specialized	ADJ
fsr-3798	76	30	,	,	PUNCT
fsr-3798	76	31	balanced	balanced	ADJ
fsr-3798	76	32	,	,	PUNCT
fsr-3798	76	33	asset	asset	NOUN
fsr-3798	76	34	allocation	allocation	NOUN
fsr-3798	76	35	,	,	PUNCT
fsr-3798	76	36	option	option	NOUN
fsr-3798	76	37	equity	equity	NOUN
fsr-3798	76	38	,	,	PUNCT
fsr-3798	76	39	and	and	CCONJ
fsr-3798	76	40	intema	intema	ADV
fsr-3798	76	41	tional	tional	ADJ
fsr-3798	76	42	.	.	PUNCT
fsr-3798	77	1	these	these	DET
fsr-3798	77	2	fund	fund	NOUN
fsr-3798	77	3	variables	variable	NOUN
fsr-3798	77	4	will	will	AUX
fsr-3798	77	5	pick	pick	VERB
fsr-3798	77	6	up	up	ADP
fsr-3798	77	7	average	average	ADJ
fsr-3798	77	8	effects	effect	NOUN
fsr-3798	77	9	,	,	PUNCT
fsr-3798	77	10	such	such	ADJ
fsr-3798	77	11	as	as	ADP
fsr-3798	77	12	the	the	DET
fsr-3798	77	13	higher	high	ADJ
fsr-3798	77	14	yields	yield	NOUN
fsr-3798	77	15	expected	expect	VERB
fsr-3798	77	16	for	for	ADP
fsr-3798	77	17	growth	growth	NOUN
fsr-3798	77	18	and	and	CCONJ
fsr-3798	77	19	income	income	NOUN
fsr-3798	77	20	funds	fund	NOUN
fsr-3798	77	21	.	.	PUNCT
fsr-3798	78	1	hi	hi	INTJ
fsr-3798	78	2	.	.	PUNCT
fsr-3798	79	1	the	the	DET
fsr-3798	79	2	data	datum	NOUN
fsr-3798	79	3	the	the	DET
fsr-3798	79	4	data	data	NOUN
fsr-3798	79	5	sample	sample	NOUN
fsr-3798	79	6	spans	span	VERB
fsr-3798	79	7	1988	1988	NUM
fsr-3798	79	8	-	-	SYM
fsr-3798	79	9	1990	1990	NUM
fsr-3798	79	10	and	and	CCONJ
fsr-3798	79	11	is	be	AUX
fsr-3798	79	12	composed	compose	VERB
fsr-3798	79	13	of	of	ADP
fsr-3798	79	14	530	530	NUM
fsr-3798	79	15	of	of	ADP
fsr-3798	79	16	the	the	DET
fsr-3798	79	17	979	979	NUM
fsr-3798	79	18	mutual	mutual	ADJ
fsr-3798	79	19	funds	fund	NOUN
fsr-3798	79	20	listed	list	VERB
fsr-3798	79	21	in	in	ADP
fsr-3798	79	22	the	the	DET
fsr-3798	79	23	1991	1991	NUM
fsr-3798	79	24	issue	issue	NOUN
fsr-3798	79	25	of	of	ADP
fsr-3798	79	26	mutual	mutual	ADJ
fsr-3798	79	27	fund	fund	NOUN
fsr-3798	79	28	sourcebook	sourcebook	NOUN
fsr-3798	79	29	volume	volume	NOUN
fsr-3798	79	30	i	i	PRON
fsr-3798	79	31	,	,	PUNCT
fsr-3798	79	32	published	publish	VERB
fsr-3798	79	33	by	by	ADP
fsr-3798	79	34	momingstar	momingstar	PROPN
fsr-3798	79	35	inc	inc	PROPN
fsr-3798	79	36	.	.	PUNCT
fsr-3798	80	1	the	the	DET
fsr-3798	80	2	distribution	distribution	NOUN
fsr-3798	80	3	of	of	ADP
fsr-3798	80	4	funds	fund	NOUN
fsr-3798	80	5	by	by	ADP
fsr-3798	80	6	objective	objective	NOUN
fsr-3798	80	7	is	be	AUX
fsr-3798	80	8	181	181	NUM
fsr-3798	80	9	growth	growth	NOUN
fsr-3798	80	10	,	,	PUNCT
fsr-3798	80	11	105	105	NUM
fsr-3798	80	12	growth	growth	NOUN
fsr-3798	80	13	and	and	CCONJ
fsr-3798	80	14	income	income	NOUN
fsr-3798	80	15	,	,	PUNCT
fsr-3798	80	16	67	67	NUM
fsr-3798	80	17	special	special	ADJ
fsr-3798	80	18	,	,	PUNCT
fsr-3798	80	19	50	50	NUM
fsr-3798	80	20	small	small	ADJ
fsr-3798	80	21	stock	stock	NOUN
fsr-3798	80	22	,	,	PUNCT
fsr-3798	80	23	43	43	NUM
fsr-3798	80	24	international	international	ADJ
fsr-3798	80	25	,	,	PUNCT
fsr-3798	80	26	41	41	NUM
fsr-3798	80	27	balanced	balanced	ADJ
fsr-3798	80	28	,	,	PUNCT
fsr-3798	80	29	30	30	NUM
fsr-3798	80	30	aggressive	aggressive	ADJ
fsr-3798	80	31	growth	growth	NOUN
fsr-3798	80	32	,	,	PUNCT
fsr-3798	80	33	7	7	NUM
fsr-3798	80	34	option	option	NOUN
fsr-3798	80	35	equity	equity	NOUN
fsr-3798	80	36	,	,	PUNCT
fsr-3798	80	37	and	and	CCONJ
fsr-3798	80	38	6	6	NUM
fsr-3798	80	39	asset	asset	NOUN
fsr-3798	80	40	allocation	allocation	NOUN
fsr-3798	80	41	.	.	PUNCT
fsr-3798	81	1	funds	fund	NOUN
fsr-3798	81	2	were	be	AUX
fsr-3798	81	3	excluded	exclude	VERB
fsr-3798	81	4	from	from	ADP
fsr-3798	81	5	the	the	DET
fsr-3798	81	6	sample	sample	NOUN
fsr-3798	81	7	if	if	SCONJ
fsr-3798	81	8	momingstar	momingstar	PROPN
fsr-3798	81	9	did	do	AUX
fsr-3798	81	10	not	not	PART
fsr-3798	81	11	report	report	VERB
fsr-3798	81	12	infor	infor	PROPN
fsr-3798	81	13	mation	mation	PROPN
fsr-3798	81	14	for	for	ADP
fsr-3798	81	15	them	they	PRON
fsr-3798	81	16	on	on	ADP
fsr-3798	81	17	the	the	DET
fsr-3798	81	18	variables	variable	NOUN
fsr-3798	81	19	mentioned	mention	VERB
fsr-3798	81	20	in	in	ADP
fsr-3798	81	21	the	the	DET
fsr-3798	81	22	previous	previous	ADJ
fsr-3798	81	23	section	section	NOUN
fsr-3798	81	24	;	;	PUNCT
fsr-3798	81	25	however	however	ADV
fsr-3798	81	26	,	,	PUNCT
fsr-3798	81	27	most	most	ADJ
fsr-3798	81	28	of	of	ADP
fsr-3798	81	29	the	the	DET
fsr-3798	81	30	funds	fund	NOUN
fsr-3798	81	31	excluded	exclude	VERB
fsr-3798	81	32	were	be	AUX
fsr-3798	81	33	eliminated	eliminate	VERB
fsr-3798	81	34	because	because	SCONJ
fsr-3798	81	35	they	they	PRON
fsr-3798	81	36	had	have	VERB
fsr-3798	81	37	fewer	few	ADJ
fsr-3798	81	38	than	than	ADP
fsr-3798	81	39	three	three	NUM
fsr-3798	81	40	years	year	NOUN
fsr-3798	81	41	of	of	ADP
fsr-3798	81	42	performance	performance	NOUN
fsr-3798	81	43	history	history	NOUN
fsr-3798	81	44	.	.	PUNCT
fsr-3798	82	1	the	the	DET
fsr-3798	82	2	variables	variable	NOUN
fsr-3798	82	3	were	be	AUX
fsr-3798	82	4	calculated	calculate	VERB
fsr-3798	82	5	in	in	ADP
fsr-3798	82	6	the	the	DET
fsr-3798	82	7	following	following	ADJ
fsr-3798	82	8	ways	way	NOUN
fsr-3798	82	9	:	:	PUNCT
fsr-3798	82	10	1	1	NUM
fsr-3798	82	11	.	.	NOUN
fsr-3798	82	12	2	2	NUM
fsr-3798	82	13	.	.	NOUN
fsr-3798	82	14	3	3	NUM
fsr-3798	82	15	.	.	NOUN
fsr-3798	82	16	4	4	NUM
fsr-3798	82	17	.	.	NOUN
fsr-3798	82	18	5	5	NUM
fsr-3798	82	19	.	.	NOUN
fsr-3798	82	20	6	6	NUM
fsr-3798	82	21	.	.	NOUN
fsr-3798	82	22	7	7	NUM
fsr-3798	82	23	.	.	NOUN
fsr-3798	82	24	8	8	NUM
fsr-3798	82	25	.	.	NOUN
fsr-3798	82	26	9	9	NUM
fsr-3798	82	27	.	.	X
fsr-3798	82	28	10	10	NUM
fsr-3798	82	29	.	.	PUNCT
fsr-3798	83	1	alpha	alpha	NOUN
fsr-3798	83	2	,	,	PUNCT
fsr-3798	83	3	beta	beta	NOUN
fsr-3798	83	4	,	,	PUNCT
fsr-3798	83	5	and	and	CCONJ
fsr-3798	83	6	residual	residual	ADJ
fsr-3798	83	7	return	return	NOUN
fsr-3798	83	8	standard	standard	ADJ
fsr-3798	83	9	deviation	deviation	NOUN
fsr-3798	83	10	are	be	AUX
fsr-3798	83	11	calculated	calculate	VERB
fsr-3798	83	12	for	for	ADP
fsr-3798	83	13	each	each	DET
fsr-3798	83	14	fund	fund	NOUN
fsr-3798	83	15	with	with	ADP
fsr-3798	83	16	monthly	monthly	ADJ
fsr-3798	83	17	return	return	NOUN
fsr-3798	83	18	data	datum	NOUN
fsr-3798	83	19	over	over	ADP
fsr-3798	83	20	1988	1988	NUM
fsr-3798	83	21	-	-	SYM
fsr-3798	83	22	1990	1990	NUM
fsr-3798	83	23	using	use	VERB
fsr-3798	83	24	the	the	DET
fsr-3798	83	25	capital	capital	NOUN
fsr-3798	83	26	asset	asset	NOUN
fsr-3798	83	27	pricing	pricing	NOUN
fsr-3798	83	28	model	model	NOUN
fsr-3798	83	29	with	with	ADP
fsr-3798	83	30	treasury	treasury	PROPN
fsr-3798	83	31	bills	bill	NOUN
fsr-3798	83	32	as	as	ADP
fsr-3798	83	33	the	the	DET
fsr-3798	83	34	risk	risk	NOUN
fsr-3798	83	35	-	-	PUNCT
fsr-3798	83	36	free	free	ADJ
fsr-3798	83	37	asset	asset	NOUN
fsr-3798	83	38	and	and	CCONJ
fsr-3798	83	39	the	the	DET
fsr-3798	83	40	standard	standard	ADJ
fsr-3798	83	41	and	and	CCONJ
fsr-3798	83	42	poor	poor	ADJ
fsr-3798	83	43	’s	’s	PART
fsr-3798	83	44	500	500	NUM
fsr-3798	83	45	stock	stock	NOUN
fsr-3798	83	46	index	index	NOUN
fsr-3798	83	47	(	(	PUNCT
fsr-3798	83	48	s&p	s&p	PROPN
fsr-3798	83	49	500	500	NUM
fsr-3798	83	50	)	)	PUNCT
fsr-3798	83	51	return	return	NOUN
fsr-3798	83	52	as	as	ADP
fsr-3798	83	53	the	the	DET
fsr-3798	83	54	market	market	NOUN
fsr-3798	83	55	portfolio	portfolio	NOUN
fsr-3798	83	56	.	.	PUNCT
fsr-3798	84	1	yield	yield	NOUN
fsr-3798	84	2	is	be	AUX
fsr-3798	84	3	defined	define	VERB
fsr-3798	84	4	as	as	ADP
fsr-3798	84	5	annual	annual	ADJ
fsr-3798	84	6	fund	fund	NOUN
fsr-3798	84	7	income	income	NOUN
fsr-3798	84	8	excluding	exclude	VERB
fsr-3798	84	9	capital	capital	NOUN
fsr-3798	84	10	gains	gain	NOUN
fsr-3798	84	11	divided	divide	VERB
fsr-3798	84	12	by	by	ADP
fsr-3798	84	13	year	year	NOUN
fsr-3798	84	14	end	end	NOUN
fsr-3798	84	15	assets	asset	NOUN
fsr-3798	84	16	.	.	PUNCT
fsr-3798	85	1	expense	expense	NOUN
fsr-3798	85	2	ratio	ratio	NOUN
fsr-3798	85	3	is	be	AUX
fsr-3798	85	4	the	the	DET
fsr-3798	85	5	percentage	percentage	NOUN
fsr-3798	85	6	of	of	ADP
fsr-3798	85	7	fund	fund	NOUN
fsr-3798	85	8	assets	asset	NOUN
fsr-3798	85	9	spent	spend	VERB
fsr-3798	85	10	on	on	ADP
fsr-3798	85	11	operating	operating	NOUN
fsr-3798	85	12	expenses	expense	NOUN
fsr-3798	85	13	(	(	PUNCT
fsr-3798	85	14	excluding	exclude	VERB
fsr-3798	85	15	management	management	NOUN
fsr-3798	85	16	fees	fee	NOUN
fsr-3798	85	17	and	and	CCONJ
fsr-3798	85	18	brokerage	brokerage	NOUN
fsr-3798	85	19	costs	cost	NOUN
fsr-3798	85	20	)	)	PUNCT
fsr-3798	85	21	.	.	PUNCT
fsr-3798	86	1	management	management	NOUN
fsr-3798	86	2	fee	fee	NOUN
fsr-3798	86	3	is	be	AUX
fsr-3798	86	4	the	the	DET
fsr-3798	86	5	percentage	percentage	NOUN
fsr-3798	86	6	of	of	ADP
fsr-3798	86	7	assets	asset	NOUN
fsr-3798	86	8	paid	pay	VERB
fsr-3798	86	9	as	as	ADP
fsr-3798	86	10	management	management	NOUN
fsr-3798	86	11	fees	fee	NOUN
fsr-3798	86	12	.	.	PUNCT
fsr-3798	87	1	turnover	turnover	NOUN
fsr-3798	87	2	is	be	AUX
fsr-3798	87	3	the	the	DET
fsr-3798	87	4	percentage	percentage	NOUN
fsr-3798	87	5	of	of	ADP
fsr-3798	87	6	total	total	ADJ
fsr-3798	87	7	assets	asset	NOUN
fsr-3798	87	8	sold	sell	VERB
fsr-3798	87	9	during	during	ADP
fsr-3798	87	10	a	a	DET
fsr-3798	87	11	year	year	NOUN
fsr-3798	87	12	.	.	PUNCT
fsr-3798	88	1	fund	fund	NOUN
fsr-3798	88	2	assets	asset	NOUN
fsr-3798	88	3	are	be	AUX
fsr-3798	88	4	net	net	ADJ
fsr-3798	88	5	year	year	NOUN
fsr-3798	88	6	-	-	PUNCT
fsr-3798	88	7	end	end	NOUN
fsr-3798	88	8	assets	asset	NOUN
fsr-3798	88	9	measured	measure	VERB
fsr-3798	88	10	in	in	ADP
fsr-3798	88	11	millions	million	NOUN
fsr-3798	88	12	.	.	PUNCT
fsr-3798	89	1	fund	fund	NOUN
fsr-3798	89	2	load	load	NOUN
fsr-3798	89	3	is	be	AUX
fsr-3798	89	4	the	the	DET
fsr-3798	89	5	percentage	percentage	NOUN
fsr-3798	89	6	of	of	ADP
fsr-3798	89	7	new	new	ADJ
fsr-3798	89	8	investments	investment	NOUN
fsr-3798	89	9	that	that	PRON
fsr-3798	89	10	must	must	AUX
fsr-3798	89	11	be	be	AUX
fsr-3798	89	12	paid	pay	VERB
fsr-3798	89	13	to	to	ADP
fsr-3798	89	14	the	the	DET
fsr-3798	89	15	fund	fund	NOUN
fsr-3798	89	16	as	as	ADP
fsr-3798	89	17	a	a	DET
fsr-3798	89	18	sales	sale	NOUN
fsr-3798	89	19	charge	charge	NOUN
fsr-3798	89	20	.	.	PUNCT
fsr-3798	90	1	team	team	NOUN
fsr-3798	90	2	size	size	NOUN
fsr-3798	90	3	is	be	AUX
fsr-3798	90	4	the	the	DET
fsr-3798	90	5	number	number	NOUN
fsr-3798	90	6	of	of	ADP
fsr-3798	90	7	managers	manager	NOUN
fsr-3798	90	8	who	who	PRON
fsr-3798	90	9	make	make	VERB
fsr-3798	90	10	investment	investment	NOUN
fsr-3798	90	11	decisions	decision	NOUN
fsr-3798	90	12	for	for	ADP
fsr-3798	90	13	the	the	DET
fsr-3798	90	14	fund	fund	NOUN
fsr-3798	90	15	(	(	PUNCT
fsr-3798	90	16	usually	usually	ADV
fsr-3798	90	17	one	one	NUM
fsr-3798	90	18	)	)	PUNCT
fsr-3798	90	19	.	.	PUNCT
fsr-3798	91	1	manager	manager	NOUN
fsr-3798	91	2	age	age	NOUN
fsr-3798	91	3	,	,	PUNCT
fsr-3798	91	4	tenure	tenure	NOUN
fsr-3798	91	5	,	,	PUNCT
fsr-3798	91	6	education	education	NOUN
fsr-3798	91	7	,	,	PUNCT
fsr-3798	91	8	and	and	CCONJ
fsr-3798	91	9	fund	fund	NOUN
fsr-3798	91	10	age	age	NOUN
fsr-3798	91	11	are	be	AUX
fsr-3798	91	12	measured	measure	VERB
fsr-3798	91	13	in	in	ADP
fsr-3798	91	14	years	year	NOUN
fsr-3798	91	15	,	,	PUNCT
fsr-3798	91	16	with	with	ADP
fsr-3798	91	17	1990	1990	NUM
fsr-3798	91	18	as	as	ADP
fsr-3798	91	19	the	the	DET
fsr-3798	91	20	end	end	NOUN
fsr-3798	91	21	-	-	PUNCT
fsr-3798	91	22	year	year	NOUN
fsr-3798	91	23	.	.	PUNCT
fsr-3798	92	1	when	when	SCONJ
fsr-3798	92	2	more	more	ADJ
fsr-3798	92	3	than	than	ADP
fsr-3798	92	4	one	one	NUM
fsr-3798	92	5	manager	manager	NOUN
fsr-3798	92	6	is	be	AUX
fsr-3798	92	7	involved	involve	VERB
fsr-3798	92	8	in	in	ADP
fsr-3798	92	9	the	the	DET
fsr-3798	92	10	fund	fund	NOUN
fsr-3798	92	11	,	,	PUNCT
fsr-3798	92	12	the	the	DET
fsr-3798	92	13	lead	lead	NOUN
fsr-3798	92	14	or	or	CCONJ
fsr-3798	92	15	more	more	ADJ
fsr-3798	92	16	senior	senior	ADJ
fsr-3798	92	17	manager	manager	NOUN
fsr-3798	92	18	’s	’s	PART
fsr-3798	92	19	characteristics	characteristic	NOUN
fsr-3798	92	20	are	be	AUX
fsr-3798	92	21	used	use	VERB
fsr-3798	92	22	.	.	PUNCT
fsr-3798	93	1	dummy	dummy	ADJ
fsr-3798	93	2	variables	variable	NOUN
fsr-3798	93	3	represent	represent	VERB
fsr-3798	93	4	mba	mba	NOUN
fsr-3798	93	5	(	(	PUNCT
fsr-3798	93	6	mba	mba	NOUN
fsr-3798	93	7	=	=	NOUN
fsr-3798	93	8	l	l	NOUN
fsr-3798	93	9	,	,	PUNCT
fsr-3798	93	10	other	other	ADJ
fsr-3798	93	11	=	=	ADJ
fsr-3798	93	12	o	o	NOUN
fsr-3798	93	13	)	)	PUNCT
fsr-3798	93	14	and	and	CCONJ
fsr-3798	93	15	fund	fund	NOUN
fsr-3798	93	16	objectives	objective	NOUN
fsr-3798	93	17	,	,	PUNCT
fsr-3798	93	18	where	where	SCONJ
fsr-3798	93	19	growth	growth	NOUN
fsr-3798	93	20	is	be	AUX
fsr-3798	93	21	the	the	DET
fsr-3798	93	22	comparison	comparison	NOUN
fsr-3798	93	23	type	type	NOUN
fsr-3798	93	24	.	.	PUNCT
fsr-3798	94	1	table	table	NOUN
fsr-3798	94	2	1	1	NUM
fsr-3798	94	3	lists	list	VERB
fsr-3798	94	4	the	the	DET
fsr-3798	94	5	sample	sample	NOUN
fsr-3798	94	6	statistics	statistic	NOUN
fsr-3798	94	7	for	for	ADP
fsr-3798	94	8	the	the	DET
fsr-3798	94	9	variables	variable	NOUN
fsr-3798	94	10	.	.	PUNCT
fsr-3798	95	1	noteworthy	noteworthy	ADJ
fsr-3798	95	2	is	be	AUX
fsr-3798	95	3	the	the	DET
fsr-3798	95	4	fact	fact	NOUN
fsr-3798	95	5	that	that	SCONJ
fsr-3798	95	6	the	the	DET
fsr-3798	95	7	aver	aver	NOUN
fsr-3798	95	8	age	age	NOUN
fsr-3798	95	9	beta	beta	NOUN
fsr-3798	95	10	is	be	AUX
fsr-3798	95	11	less	less	ADJ
fsr-3798	95	12	than	than	ADP
fsr-3798	95	13	one	one	NUM
fsr-3798	95	14	(	(	PUNCT
fsr-3798	95	15	0.84	0.84	NUM
fsr-3798	95	16	)	)	PUNCT
fsr-3798	95	17	and	and	CCONJ
fsr-3798	95	18	the	the	DET
fsr-3798	95	19	average	average	ADJ
fsr-3798	95	20	alpha	alpha	NOUN
fsr-3798	95	21	is	be	AUX
fsr-3798	95	22	-2.83	-2.83	ADJ
fsr-3798	95	23	percent	percent	NOUN
fsr-3798	95	24	per	per	ADP
fsr-3798	95	25	year	year	NOUN
fsr-3798	95	26	.	.	PUNCT
fsr-3798	96	1	average	average	ADJ
fsr-3798	96	2	mutual	mutual	ADJ
fsr-3798	96	3	fund	fund	NOUN
fsr-3798	96	4	managers	manager	NOUN
fsr-3798	96	5	137	137	NUM
fsr-3798	96	6	turnover	turnover	NOUN
fsr-3798	96	7	is	be	AUX
fsr-3798	96	8	nearly	nearly	ADV
fsr-3798	96	9	100	100	NUM
fsr-3798	96	10	percent	percent	NOUN
fsr-3798	96	11	(	(	PUNCT
fsr-3798	96	12	91.72	91.72	NUM
fsr-3798	96	13	%	%	NOUN
fsr-3798	96	14	)	)	PUNCT
fsr-3798	96	15	with	with	ADP
fsr-3798	96	16	a	a	DET
fsr-3798	96	17	maximum	maximum	ADJ
fsr-3798	96	18	turnover	turnover	NOUN
fsr-3798	96	19	of	of	ADP
fsr-3798	96	20	almost	almost	ADV
fsr-3798	96	21	800	800	NUM
fsr-3798	96	22	percent	percent	NOUN
fsr-3798	96	23	.	.	PUNCT
fsr-3798	97	1	the	the	DET
fsr-3798	97	2	average	average	ADJ
fsr-3798	97	3	fund	fund	NOUN
fsr-3798	97	4	manager	manager	NOUN
fsr-3798	97	5	is	be	AUX
fsr-3798	97	6	46	46	NUM
fsr-3798	97	7	years	year	NOUN
fsr-3798	97	8	old	old	ADJ
fsr-3798	97	9	,	,	PUNCT
fsr-3798	97	10	holds	hold	VERB
fsr-3798	97	11	an	an	DET
fsr-3798	97	12	mba	mba	NOUN
fsr-3798	97	13	(	(	PUNCT
fsr-3798	97	14	64	64	NUM
fsr-3798	97	15	percent	percent	NOUN
fsr-3798	97	16	)	)	PUNCT
fsr-3798	97	17	and	and	CCONJ
fsr-3798	97	18	has	have	VERB
fsr-3798	97	19	seven	seven	NUM
fsr-3798	97	20	years	year	NOUN
fsr-3798	97	21	tenure	tenure	NOUN
fsr-3798	97	22	.	.	PUNCT
fsr-3798	98	1	the	the	DET
fsr-3798	98	2	typical	typical	ADJ
fsr-3798	98	3	fund	fund	NOUN
fsr-3798	98	4	is	be	AUX
fsr-3798	98	5	16	16	NUM
fsr-3798	98	6	years	year	NOUN
fsr-3798	98	7	old	old	ADJ
fsr-3798	98	8	,	,	PUNCT
fsr-3798	98	9	has	have	VERB
fsr-3798	98	10	$	$	SYM
fsr-3798	98	11	280	280	NUM
fsr-3798	98	12	million	million	NUM
fsr-3798	98	13	of	of	ADP
fsr-3798	98	14	assets	asset	NOUN
fsr-3798	98	15	,	,	PUNCT
fsr-3798	98	16	charges	charge	VERB
fsr-3798	98	17	a	a	DET
fsr-3798	98	18	3.14	3.14	NUM
fsr-3798	98	19	percent	percent	NOUN
fsr-3798	98	20	load	load	NOUN
fsr-3798	98	21	,	,	PUNCT
fsr-3798	98	22	and	and	CCONJ
fsr-3798	98	23	has	have	VERB
fsr-3798	98	24	a	a	DET
fsr-3798	98	25	growth	growth	NOUN
fsr-3798	98	26	objective	objective	NOUN
fsr-3798	98	27	(	(	PUNCT
fsr-3798	98	28	34	34	NUM
fsr-3798	98	29	%	%	NOUN
fsr-3798	98	30	)	)	PUNCT
fsr-3798	98	31	.	.	PUNCT
fsr-3798	99	1	the	the	DET
fsr-3798	99	2	relatively	relatively	ADV
fsr-3798	99	3	large	large	ADJ
fsr-3798	99	4	proportion	proportion	NOUN
fsr-3798	99	5	of	of	ADP
fsr-3798	99	6	growth	growth	NOUN
fsr-3798	99	7	funds	fund	NOUN
fsr-3798	99	8	included	include	VERB
fsr-3798	99	9	in	in	ADP
fsr-3798	99	10	the	the	DET
fsr-3798	99	11	sample	sample	NOUN
fsr-3798	99	12	reflects	reflect	VERB
fsr-3798	99	13	investor	investor	NOUN
fsr-3798	99	14	preference	preference	NOUN
fsr-3798	99	15	for	for	ADP
fsr-3798	99	16	such	such	ADJ
fsr-3798	99	17	funds	fund	NOUN
fsr-3798	99	18	.	.	PUNCT
fsr-3798	100	1	iv	iv	X
fsr-3798	100	2	.	.	PROPN
fsr-3798	100	3	results	result	VERB
fsr-3798	100	4	the	the	DET
fsr-3798	100	5	specification	specification	NOUN
fsr-3798	100	6	of	of	ADP
fsr-3798	100	7	each	each	DET
fsr-3798	100	8	structural	structural	ADJ
fsr-3798	100	9	equation	equation	NOUN
fsr-3798	100	10	and	and	CCONJ
fsr-3798	100	11	its	its	PRON
fsr-3798	100	12	statistical	statistical	ADJ
fsr-3798	100	13	results	result	NOUN
fsr-3798	100	14	are	be	AUX
fsr-3798	100	15	presented	present	VERB
fsr-3798	100	16	together	together	ADV
fsr-3798	100	17	in	in	ADP
fsr-3798	100	18	order	order	NOUN
fsr-3798	100	19	to	to	PART
fsr-3798	100	20	focus	focus	VERB
fsr-3798	100	21	the	the	DET
fsr-3798	100	22	presentation	presentation	NOUN
fsr-3798	100	23	.	.	PUNCT
fsr-3798	101	1	both	both	CCONJ
fsr-3798	101	2	the	the	DET
fsr-3798	101	3	3sls	3sls	PROPN
fsr-3798	101	4	structural	structural	ADJ
fsr-3798	101	5	and	and	CCONJ
fsr-3798	101	6	reduced	reduced	ADJ
fsr-3798	101	7	form	form	NOUN
fsr-3798	101	8	coefficients	coefficient	NOUN
fsr-3798	101	9	are	be	AUX
fsr-3798	101	10	reported	report	VERB
fsr-3798	101	11	in	in	ADP
fsr-3798	101	12	the	the	DET
fsr-3798	101	13	tables	table	NOUN
fsr-3798	101	14	and	and	CCONJ
fsr-3798	101	15	statistically	statistically	ADV
fsr-3798	101	16	significant	significant	ADJ
fsr-3798	101	17	coefficients	coefficient	NOUN
fsr-3798	101	18	are	be	AUX
fsr-3798	101	19	starred	star	VERB
fsr-3798	101	20	(	(	PUNCT
fsr-3798	101	21	t	t	PROPN
fsr-3798	101	22	statistics	statistic	NOUN
fsr-3798	101	23	are	be	AUX
fsr-3798	101	24	available	available	ADJ
fsr-3798	101	25	upon	upon	SCONJ
fsr-3798	101	26	request	request	NOUN
fsr-3798	101	27	)	)	PUNCT
fsr-3798	101	28	.	.	PUNCT
fsr-3798	102	1	the	the	DET
fsr-3798	102	2	reduced	reduce	VERB
fsr-3798	102	3	form	form	NOUN
fsr-3798	102	4	coefficients	coefficient	NOUN
fsr-3798	102	5	will	will	AUX
fsr-3798	102	6	be	be	AUX
fsr-3798	102	7	discussed	discuss	VERB
fsr-3798	102	8	when	when	SCONJ
fsr-3798	102	9	they	they	PRON
fsr-3798	102	10	differ	differ	VERB
fsr-3798	102	11	significantly	significantly	ADV
fsr-3798	102	12	from	from	ADP
fsr-3798	102	13	the	the	DET
fsr-3798	102	14	structural	structural	ADJ
fsr-3798	102	15	coefficients	coefficient	NOUN
fsr-3798	102	16	.	.	PUNCT
fsr-3798	103	1	the	the	DET
fsr-3798	103	2	structural	structural	ADJ
fsr-3798	103	3	coefficients	coefficient	NOUN
fsr-3798	103	4	represent	represent	VERB
fsr-3798	103	5	the	the	DET
fsr-3798	103	6	direct	direct	ADJ
fsr-3798	103	7	effects	effect	NOUN
fsr-3798	103	8	of	of	ADP
fsr-3798	103	9	the	the	DET
fsr-3798	103	10	included	include	VERB
fsr-3798	103	11	right	right	ADJ
fsr-3798	103	12	-	-	PUNCT
fsr-3798	103	13	hand	hand	NOUN
fsr-3798	103	14	-	-	PUNCT
fsr-3798	103	15	side	side	NOUN
fsr-3798	103	16	exogenous	exogenous	ADJ
fsr-3798	103	17	and	and	CCONJ
fsr-3798	103	18	endogenous	endogenous	ADJ
fsr-3798	103	19	variables	variable	NOUN
fsr-3798	103	20	on	on	ADP
fsr-3798	103	21	the	the	DET
fsr-3798	103	22	left	left	ADJ
fsr-3798	103	23	-	-	PUNCT
fsr-3798	103	24	hand	hand	NOUN
fsr-3798	103	25	-	-	PUNCT
fsr-3798	103	26	side	side	NOUN
fsr-3798	103	27	depen	depen	NOUN
fsr-3798	103	28	dent	dent	NOUN
fsr-3798	103	29	endogenous	endogenous	ADJ
fsr-3798	103	30	variable	variable	NOUN
fsr-3798	103	31	.	.	PUNCT
fsr-3798	104	1	by	by	ADP
fsr-3798	104	2	comparison	comparison	NOUN
fsr-3798	104	3	,	,	PUNCT
fsr-3798	104	4	the	the	DET
fsr-3798	104	5	reduced	reduce	VERB
fsr-3798	104	6	form	form	NOUN
fsr-3798	104	7	coefficients	coefficient	NOUN
fsr-3798	104	8	combine	combine	VERB
fsr-3798	104	9	the	the	DET
fsr-3798	104	10	direct	direct	ADJ
fsr-3798	104	11	effect	effect	NOUN
fsr-3798	104	12	of	of	ADP
fsr-3798	104	13	an	an	DET
fsr-3798	104	14	exogenous	exogenous	ADJ
fsr-3798	104	15	variable	variable	NOUN
fsr-3798	104	16	on	on	ADP
fsr-3798	104	17	the	the	DET
fsr-3798	104	18	dependent	dependent	ADJ
fsr-3798	104	19	variable	variable	NOUN
fsr-3798	104	20	,	,	PUNCT
fsr-3798	104	21	with	with	ADP
fsr-3798	104	22	the	the	DET
fsr-3798	104	23	indirect	indirect	ADJ
fsr-3798	104	24	effects	effect	NOUN
fsr-3798	104	25	implied	imply	VERB
fsr-3798	104	26	by	by	ADP
fsr-3798	104	27	the	the	DET
fsr-3798	104	28	endogenous	endogenous	ADJ
fsr-3798	104	29	variables	variable	NOUN
fsr-3798	104	30	that	that	PRON
fsr-3798	104	31	are	be	AUX
fsr-3798	104	32	included	include	VERB
fsr-3798	104	33	in	in	ADP
fsr-3798	104	34	the	the	DET
fsr-3798	104	35	structural	structural	ADJ
fsr-3798	104	36	form	form	NOUN
fsr-3798	104	37	but	but	CCONJ
fsr-3798	104	38	excluded	exclude	VERB
fsr-3798	104	39	from	from	ADP
fsr-3798	104	40	the	the	DET
fsr-3798	104	41	reduced	reduced	ADJ
fsr-3798	104	42	form	form	NOUN
fsr-3798	104	43	.	.	PUNCT
fsr-3798	105	1	table	table	NOUN
fsr-3798	105	2	1	1	NUM
fsr-3798	105	3	sample	sample	NOUN
fsr-3798	105	4	statistics	statistic	NOUN
fsr-3798	105	5	for	for	ADP
fsr-3798	105	6	the	the	DET
fsr-3798	105	7	variables	variable	NOUN
fsr-3798	105	8	used	use	VERB
fsr-3798	105	9	in	in	ADP
fsr-3798	105	10	simultaneous	simultaneous	ADJ
fsr-3798	105	11	regression	regression	NOUN
fsr-3798	105	12	analysis	analysis	NOUN
fsr-3798	105	13	endogenous	endogenous	ADJ
fsr-3798	105	14	variables	variable	NOUN
fsr-3798	105	15	yield	yield	VERB
fsr-3798	105	16	(	(	PUNCT
fsr-3798	105	17	%	%	NOUN
fsr-3798	105	18	)	)	PUNCT
fsr-3798	106	1	alpha	alpha	NOUN
fsr-3798	106	2	(	(	PUNCT
fsr-3798	106	3	cub	cub	NOUN
fsr-3798	106	4	)	)	PUNCT
fsr-3798	106	5	beta	beta	NOUN
fsr-3798	106	6	residual	residual	ADJ
fsr-3798	106	7	s.	s.	PROPN
fsr-3798	106	8	dev	dev	PROPN
fsr-3798	106	9	.	.	PUNCT
fsr-3798	107	1	(	(	PUNCT
fsr-3798	107	2	%	%	INTJ
fsr-3798	107	3	)	)	PUNCT
fsr-3798	107	4	expense	expense	NOUN
fsr-3798	107	5	ratio	ratio	NOUN
fsr-3798	107	6	(	(	PUNCT
fsr-3798	107	7	%	%	INTJ
fsr-3798	107	8	)	)	PUNCT
fsr-3798	107	9	management	management	NOUN
fsr-3798	107	10	fee	fee	NOUN
fsr-3798	107	11	(	(	PUNCT
fsr-3798	107	12	%	%	INTJ
fsr-3798	107	13	)	)	PUNCT
fsr-3798	107	14	turnover	turnover	NOUN
fsr-3798	107	15	(	(	PUNCT
fsr-3798	107	16	%	%	INTJ
fsr-3798	107	17	)	)	PUNCT
fsr-3798	107	18	mean	mean	NOUN
fsr-3798	107	19	standard	standard	ADJ
fsr-3798	107	20	deviation	deviation	NOUN
fsr-3798	107	21	minimum	minimum	NOUN
fsr-3798	107	22	maximum	maximum	ADJ
fsr-3798	107	23	2.59	2.59	NUM
fsr-3798	107	24	2.21	2.21	NUM
fsr-3798	107	25	0.00	0.00	NUM
fsr-3798	107	26	13.10	13.10	NUM
fsr-3798	107	27	-2.83	-2.83	NUM
fsr-3798	107	28	4.49	4.49	NUM
fsr-3798	107	29	-23.80	-23.80	ADP
fsr-3798	107	30	16.05	16.05	NUM
fsr-3798	107	31	0.84	0.84	NUM
fsr-3798	107	32	0.29	0.29	NUM
fsr-3798	107	33	-0.12	-0.12	NUM
fsr-3798	107	34	1.67	1.67	NUM
fsr-3798	107	35	7.25	7.25	NUM
fsr-3798	107	36	3.84	3.84	NUM
fsr-3798	107	37	0.00	0.00	NUM
fsr-3798	107	38	20.56	20.56	NUM
fsr-3798	107	39	0.79	0.79	NUM
fsr-3798	107	40	0.76	0.76	NUM
fsr-3798	107	41	0.00	0.00	NUM
fsr-3798	107	42	10.10	10.10	NUM
fsr-3798	107	43	0.73	0.73	NUM
fsr-3798	107	44	0.22	0.22	NUM
fsr-3798	107	45	0.05	0.05	NUM
fsr-3798	107	46	2.00	2.00	NUM
fsr-3798	107	47	91.72	91.72	NUM
fsr-3798	107	48	89.37	89.37	NUM
fsr-3798	107	49	0.00	0.00	NUM
fsr-3798	107	50	789.00	789.00	NUM
fsr-3798	107	51	e.xogenous	e.xogenous	ADJ
fsr-3798	107	52	variables	variable	NOUN
fsr-3798	107	53	manager	manager	NOUN
fsr-3798	107	54	age	age	NOUN
fsr-3798	107	55	(	(	PUNCT
fsr-3798	107	56	years	year	NOUN
fsr-3798	107	57	)	)	PUNCT
fsr-3798	107	58	tenure	tenure	NOUN
fsr-3798	107	59	(	(	PUNCT
fsr-3798	107	60	years	year	NOUN
fsr-3798	107	61	)	)	PUNCT
fsr-3798	107	62	years	year	NOUN
fsr-3798	107	63	of	of	ADP
fsr-3798	107	64	education	education	NOUN
fsr-3798	107	65	mba	mba	NOUN
fsr-3798	107	66	degree	degree	NOUN
fsr-3798	107	67	team	team	NOUN
fsr-3798	107	68	size	size	NOUN
fsr-3798	107	69	fund	fund	NOUN
fsr-3798	107	70	age	age	NOUN
fsr-3798	107	71	(	(	PUNCT
fsr-3798	107	72	years	year	NOUN
fsr-3798	107	73	)	)	PUNCT
fsr-3798	107	74	fund	fund	NOUN
fsr-3798	107	75	assets	asset	NOUN
fsr-3798	107	76	(	(	PUNCT
fsr-3798	107	77	millions	million	NOUN
fsr-3798	107	78	)	)	PUNCT
fsr-3798	107	79	load	load	NOUN
fsr-3798	107	80	(	(	PUNCT
fsr-3798	107	81	%	%	NOUN
fsr-3798	107	82	)	)	PUNCT
fsr-3798	107	83	45.96	45.96	NUM
fsr-3798	107	84	10.33	10.33	NUM
fsr-3798	107	85	26.00	26.00	NUM
fsr-3798	107	86	82.00	82.00	NUM
fsr-3798	107	87	6.95	6.95	NUM
fsr-3798	107	88	6.14	6.14	NUM
fsr-3798	107	89	1.00	1.00	NUM
fsr-3798	107	90	51.00	51.00	NUM
fsr-3798	107	91	17.54	17.54	NUM
fsr-3798	107	92	0.89	0.89	NUM
fsr-3798	107	93	16.00	16.00	NUM
fsr-3798	107	94	19.00	19.00	NUM
fsr-3798	107	95	0.64	0.64	NUM
fsr-3798	107	96	0.48	0.48	NUM
fsr-3798	107	97	0.00	0.00	NUM
fsr-3798	107	98	1.00	1.00	NUM
fsr-3798	107	99	1.23	1.23	NUM
fsr-3798	107	100	0.63	0.63	NUM
fsr-3798	107	101	1	1	NUM
fsr-3798	107	102	.oo	.oo	PUNCT
fsr-3798	107	103	5.00	5.00	NUM
fsr-3798	107	104	16.27	16.27	NUM
fsr-3798	107	105	15.94	15.94	NUM
fsr-3798	107	106	3.00	3.00	NUM
fsr-3798	107	107	87.00	87.00	NUM
fsr-3798	107	108	280.37	280.37	NUM
fsr-3798	107	109	769.60	769.60	NUM
fsr-3798	107	110	1.00	1.00	NUM
fsr-3798	107	111	11980.00	11980.00	NUM
fsr-3798	107	112	3.19	3.19	NUM
fsr-3798	107	113	2.76	2.76	NUM
fsr-3798	107	114	0.00	0.00	NUM
fsr-3798	107	115	8.50	8.50	NUM
fsr-3798	107	116	fund	fund	NOUN
fsr-3798	107	117	objectives	objective	NOUN
fsr-3798	107	118	growth	growth	VERB
fsr-3798	107	119	aggressive	aggressive	ADJ
fsr-3798	107	120	growth	growth	NOUN
fsr-3798	107	121	growth	growth	NOUN
fsr-3798	107	122	and	and	CCONJ
fsr-3798	107	123	income	income	VERB
fsr-3798	107	124	small	small	ADJ
fsr-3798	107	125	stock	stock	NOUN
fsr-3798	107	126	special	special	ADJ
fsr-3798	107	127	balanced	balanced	ADJ
fsr-3798	107	128	asset	asset	NOUN
fsr-3798	107	129	allocation	allocation	NOUN
fsr-3798	107	130	option	option	NOUN
fsr-3798	107	131	equity	equity	NOUN
fsr-3798	107	132	0.34	0.34	NUM
fsr-3798	107	133	0.47	0.47	NUM
fsr-3798	107	134	0.00	0.00	NUM
fsr-3798	107	135	1.00	1.00	NUM
fsr-3798	107	136	0.06	0.06	NUM
fsr-3798	107	137	0.23	0.23	NUM
fsr-3798	107	138	0.00	0.00	NUM
fsr-3798	107	139	1.00	1.00	NUM
fsr-3798	107	140	0.20	0.20	NUM
fsr-3798	107	141	0.40	0.40	NUM
fsr-3798	107	142	0.00	0.00	NUM
fsr-3798	107	143	1.00	1.00	NUM
fsr-3798	107	144	0.09	0.09	NUM
fsr-3798	107	145	0.30	0.30	NUM
fsr-3798	107	146	0.00	0.00	NUM
fsr-3798	107	147	1.00	1.00	NUM
fsr-3798	107	148	0.13	0.13	NUM
fsr-3798	107	149	0.33	0.33	NUM
fsr-3798	107	150	0.00	0.00	NUM
fsr-3798	107	151	1.00	1.00	NUM
fsr-3798	107	152	0.08	0.08	NUM
fsr-3798	107	153	0.26	0.26	NUM
fsr-3798	107	154	0.00	0.00	NUM
fsr-3798	107	155	1.00	1.00	NUM
fsr-3798	107	156	0.01	0.01	NUM
fsr-3798	107	157	0.10	0.10	NUM
fsr-3798	107	158	0.00	0.00	NUM
fsr-3798	107	159	1.00	1.00	NUM
fsr-3798	107	160	0.01	0.01	NUM
fsr-3798	107	161	0.11	0.11	NUM
fsr-3798	107	162	0.00	0.00	NUM
fsr-3798	107	163	1.00	1.00	NUM
fsr-3798	107	164	internati&ai	internati&ai	PROPN
fsr-3798	107	165	0.08	0.08	NUM
fsr-3798	107	166	0.27	0.27	NUM
fsr-3798	107	167	0.00	0.00	NUM
fsr-3798	107	168	1.00	1.00	NUM
fsr-3798	107	169	138	138	NUM
fsr-3798	107	170	financial	financial	ADJ
fsr-3798	107	171	services	service	NOUN
fsr-3798	107	172	review	review	VERB
fsr-3798	107	173	5(2	5(2	NUM
fsr-3798	107	174	)	)	PUNCT
fsr-3798	107	175	1996	1996	NUM
fsr-3798	107	176	a.	a.	NOUN
fsr-3798	108	1	the	the	DET
fsr-3798	108	2	performance	performance	NOUN
fsr-3798	108	3	equations	equation	NOUN
fsr-3798	108	4	yield	yield	NOUN
fsr-3798	108	5	is	be	AUX
fsr-3798	108	6	included	include	VERB
fsr-3798	108	7	as	as	ADP
fsr-3798	108	8	a	a	DET
fsr-3798	108	9	performance	performance	NOUN
fsr-3798	108	10	measure	measure	NOUN
fsr-3798	108	11	because	because	SCONJ
fsr-3798	108	12	many	many	ADJ
fsr-3798	108	13	investors	investor	NOUN
fsr-3798	108	14	consider	consider	VERB
fsr-3798	108	15	yield	yield	NOUN
fsr-3798	108	16	in	in	ADP
fsr-3798	108	17	their	their	PRON
fsr-3798	108	18	selection	selection	NOUN
fsr-3798	108	19	of	of	ADP
fsr-3798	108	20	a	a	DET
fsr-3798	108	21	fund	fund	NOUN
fsr-3798	108	22	and	and	CCONJ
fsr-3798	108	23	because	because	SCONJ
fsr-3798	108	24	managers	manager	NOUN
fsr-3798	108	25	through	through	ADP
fsr-3798	108	26	stock	stock	NOUN
fsr-3798	108	27	selection	selection	NOUN
fsr-3798	108	28	have	have	VERB
fsr-3798	108	29	significant	significant	ADJ
fsr-3798	108	30	control	control	NOUN
fsr-3798	108	31	of	of	ADP
fsr-3798	108	32	a	a	DET
fsr-3798	108	33	fund	fund	NOUN
fsr-3798	108	34	’s	’s	PART
fsr-3798	108	35	yield	yield	NOUN
fsr-3798	108	36	.	.	PUNCT
fsr-3798	109	1	the	the	DET
fsr-3798	109	2	structural	structural	ADJ
fsr-3798	109	3	equation	equation	NOUN
fsr-3798	109	4	for	for	ADP
fsr-3798	109	5	yield	yield	NOUN
fsr-3798	109	6	is	be	AUX
fsr-3798	109	7	:	:	PUNCT
fsr-3798	109	8	yield	yield	NOUN
fsr-3798	109	9	=	=	SYM
fsr-3798	109	10	(	(	PUNCT
fsr-3798	109	11	expense	expense	NOUN
fsr-3798	109	12	,	,	PUNCT
fsr-3798	109	13	fee	fee	NOUN
fsr-3798	109	14	,	,	PUNCT
fsr-3798	109	15	turnover	turnover	NOUN
fsr-3798	109	16	,	,	PUNCT
fsr-3798	109	17	manager	manager	NOUN
fsr-3798	109	18	age	age	NOUN
fsr-3798	109	19	,	,	PUNCT
fsr-3798	109	20	tenure	tenure	NOUN
fsr-3798	109	21	,	,	PUNCT
fsr-3798	109	22	fund	fund	NOUN
fsr-3798	109	23	age	age	NOUN
fsr-3798	109	24	,	,	PUNCT
fsr-3798	109	25	assets	asset	NOUN
fsr-3798	109	26	,	,	PUNCT
fsr-3798	109	27	objectives	objective	NOUN
fsr-3798	109	28	)	)	PUNCT
fsr-3798	109	29	(	(	PUNCT
fsr-3798	109	30	1	1	X
fsr-3798	109	31	)	)	PUNCT
fsr-3798	109	32	expenses	expense	NOUN
fsr-3798	109	33	,	,	PUNCT
fsr-3798	109	34	management	management	NOUN
fsr-3798	109	35	fee	fee	NOUN
fsr-3798	109	36	and	and	CCONJ
fsr-3798	109	37	turnover	turnover	NOUN
fsr-3798	109	38	should	should	AUX
fsr-3798	109	39	be	be	AUX
fsr-3798	109	40	negatively	negatively	ADV
fsr-3798	109	41	related	relate	VERB
fsr-3798	109	42	to	to	ADP
fsr-3798	109	43	fund	fund	NOUN
fsr-3798	109	44	yield	yield	NOUN
fsr-3798	109	45	,	,	PUNCT
fsr-3798	109	46	all	all	PRON
fsr-3798	109	47	else	else	ADV
fsr-3798	109	48	equal	equal	ADJ
fsr-3798	109	49	.	.	PUNCT
fsr-3798	110	1	they	they	PRON
fsr-3798	110	2	represent	represent	VERB
fsr-3798	110	3	costs	cost	NOUN
fsr-3798	110	4	that	that	PRON
fsr-3798	110	5	may	may	AUX
fsr-3798	110	6	be	be	AUX
fsr-3798	110	7	paid	pay	VERB
fsr-3798	110	8	out	out	ADP
fsr-3798	110	9	of	of	ADP
fsr-3798	110	10	a	a	DET
fsr-3798	110	11	fund	fund	NOUN
fsr-3798	110	12	’s	’s	PART
fsr-3798	110	13	cash	cash	NOUN
fsr-3798	110	14	flow	flow	NOUN
fsr-3798	110	15	which	which	PRON
fsr-3798	110	16	would	would	AUX
fsr-3798	110	17	otherwise	otherwise	ADV
fsr-3798	110	18	go	go	VERB
fsr-3798	110	19	to	to	ADP
fsr-3798	110	20	shareholders	shareholder	NOUN
fsr-3798	110	21	.	.	PUNCT
fsr-3798	111	1	results	result	NOUN
fsr-3798	111	2	for	for	ADP
fsr-3798	111	3	the	the	DET
fsr-3798	111	4	yield	yield	NOUN
fsr-3798	111	5	regression	regression	NOUN
fsr-3798	111	6	reported	report	VERB
fsr-3798	111	7	in	in	ADP
fsr-3798	111	8	table	table	NOUN
fsr-3798	111	9	2	2	NUM
fsr-3798	111	10	show	show	NOUN
fsr-3798	111	11	that	that	SCONJ
fsr-3798	111	12	fund	fund	NOUN
fsr-3798	111	13	yield	yield	NOUN
fsr-3798	111	14	is	be	AUX
fsr-3798	111	15	significantly	significantly	ADV
fsr-3798	111	16	negatively	negatively	ADV
fsr-3798	111	17	related	relate	VERB
fsr-3798	111	18	to	to	ADP
fsr-3798	111	19	management	management	NOUN
fsr-3798	111	20	fees	fee	NOUN
fsr-3798	111	21	,	,	PUNCT
fsr-3798	111	22	as	as	SCONJ
fsr-3798	111	23	expected	expect	VERB
fsr-3798	111	24	,	,	PUNCT
fsr-3798	111	25	while	while	SCONJ
fsr-3798	111	26	the	the	DET
fsr-3798	111	27	expense	expense	NOUN
fsr-3798	111	28	ratio	ratio	NOUN
fsr-3798	111	29	and	and	CCONJ
fsr-3798	111	30	turnover	turnover	NOUN
fsr-3798	111	31	coefficients	coefficient	NOUN
fsr-3798	111	32	are	be	AUX
fsr-3798	111	33	insignificant	insignificant	ADJ
fsr-3798	111	34	.	.	PUNCT
fsr-3798	112	1	yield	yield	NOUN
fsr-3798	112	2	may	may	AUX
fsr-3798	112	3	be	be	AUX
fsr-3798	112	4	negatively	negatively	ADV
fsr-3798	112	5	related	relate	VERB
fsr-3798	112	6	to	to	ADP
fsr-3798	112	7	manager	manager	NOUN
fsr-3798	112	8	age	age	NOUN
fsr-3798	112	9	because	because	SCONJ
fsr-3798	112	10	older	old	ADJ
fsr-3798	112	11	managers	manager	NOUN
fsr-3798	112	12	nearing	near	VERB
fsr-3798	112	13	retirement	retirement	NOUN
fsr-3798	112	14	can	can	AUX
fsr-3798	112	15	boost	boost	VERB
fsr-3798	112	16	fees	fee	NOUN
fsr-3798	112	17	somewhat	somewhat	ADV
fsr-3798	112	18	by	by	ADP
fsr-3798	112	19	reducing	reduce	VERB
fsr-3798	112	20	payouts	payout	NOUN
fsr-3798	112	21	and	and	CCONJ
fsr-3798	112	22	growing	grow	VERB
fsr-3798	112	23	assets	asset	NOUN
fsr-3798	112	24	.	.	PUNCT
fsr-3798	113	1	such	such	ADJ
fsr-3798	113	2	short	short	ADJ
fsr-3798	113	3	run	run	NOUN
fsr-3798	113	4	behavior	behavior	NOUN
fsr-3798	113	5	by	by	ADP
fsr-3798	113	6	older	old	ADJ
fsr-3798	113	7	managers	manager	NOUN
fsr-3798	113	8	is	be	AUX
fsr-3798	113	9	documented	document	VERB
fsr-3798	113	10	in	in	ADP
fsr-3798	113	11	gibbons	gibbon	NOUN
fsr-3798	113	12	and	and	CCONJ
fsr-3798	113	13	murphy	murphy	PROPN
fsr-3798	113	14	(	(	PUNCT
fsr-3798	113	15	1992	1992	NUM
fsr-3798	113	16	)	)	PUNCT
fsr-3798	113	17	and	and	CCONJ
fsr-3798	113	18	dechow	dechow	ADJ
fsr-3798	113	19	and	and	CCONJ
fsr-3798	113	20	sloan	sloan	PROPN
fsr-3798	113	21	(	(	PUNCT
fsr-3798	113	22	1991	1991	NUM
fsr-3798	113	23	)	)	PUNCT
fsr-3798	113	24	.	.	PUNCT
fsr-3798	114	1	results	result	NOUN
fsr-3798	114	2	,	,	PUNCT
fsr-3798	114	3	however	however	ADV
fsr-3798	114	4	,	,	PUNCT
fsr-3798	114	5	show	show	VERB
fsr-3798	114	6	no	no	DET
fsr-3798	114	7	significant	significant	ADJ
fsr-3798	114	8	relationship	relationship	NOUN
fsr-3798	114	9	between	between	ADP
fsr-3798	114	10	age	age	NOUN
fsr-3798	114	11	and	and	CCONJ
fsr-3798	114	12	yield	yield	NOUN
fsr-3798	114	13	.	.	PUNCT
fsr-3798	115	1	yield	yield	NOUN
fsr-3798	115	2	may	may	AUX
fsr-3798	115	3	be	be	AUX
fsr-3798	115	4	positively	positively	ADV
fsr-3798	115	5	related	relate	VERB
fsr-3798	115	6	to	to	ADP
fsr-3798	115	7	tenure	tenure	NOUN
fsr-3798	115	8	for	for	ADP
fsr-3798	115	9	precisely	precisely	ADV
fsr-3798	115	10	the	the	DET
fsr-3798	115	11	opposite	opposite	ADJ
fsr-3798	115	12	reason	reason	NOUN
fsr-3798	115	13	that	that	SCONJ
fsr-3798	115	14	age	age	NOUN
fsr-3798	115	15	was	be	AUX
fsr-3798	115	16	predicted	predict	VERB
fsr-3798	115	17	to	to	PART
fsr-3798	115	18	be	be	AUX
fsr-3798	115	19	negatively	negatively	ADV
fsr-3798	115	20	related	relate	VERB
fsr-3798	115	21	to	to	PART
fsr-3798	115	22	yield	yield	VERB
fsr-3798	115	23	.	.	PUNCT
fsr-3798	116	1	that	that	PRON
fsr-3798	116	2	is	be	AUX
fsr-3798	116	3	,	,	PUNCT
fsr-3798	116	4	long	long	ADJ
fsr-3798	116	5	tenure	tenure	NOUN
fsr-3798	116	6	may	may	AUX
fsr-3798	116	7	imply	imply	VERB
fsr-3798	116	8	greater	great	ADJ
fsr-3798	116	9	job	job	NOUN
fsr-3798	116	10	secu	secu	PROPN
fsr-3798	116	11	rity	rity	NOUN
fsr-3798	116	12	,	,	PUNCT
fsr-3798	116	13	and	and	CCONJ
fsr-3798	116	14	hence	hence	ADV
fsr-3798	116	15	,	,	PUNCT
fsr-3798	116	16	less	less	ADV
fsr-3798	116	17	short	short	ADJ
fsr-3798	116	18	-	-	PUNCT
fsr-3798	116	19	run	run	NOUN
fsr-3798	116	20	behavior	behavior	NOUN
fsr-3798	116	21	by	by	ADP
fsr-3798	116	22	the	the	DET
fsr-3798	116	23	manager	manager	NOUN
fsr-3798	116	24	.	.	PUNCT
fsr-3798	117	1	indeed	indeed	ADV
fsr-3798	117	2	,	,	PUNCT
fsr-3798	117	3	while	while	SCONJ
fsr-3798	117	4	selecting	select	VERB
fsr-3798	117	5	stocks	stock	NOUN
fsr-3798	117	6	pay	pay	VERB
fsr-3798	117	7	ing	ing	ADJ
fsr-3798	117	8	high	high	ADJ
fsr-3798	117	9	dividends	dividend	NOUN
fsr-3798	117	10	reduces	reduce	VERB
fsr-3798	117	11	management	management	NOUN
fsr-3798	117	12	fees	fee	NOUN
fsr-3798	117	13	now	now	ADV
fsr-3798	117	14	,	,	PUNCT
fsr-3798	117	15	high	high	ADJ
fsr-3798	117	16	dividend	dividend	NOUN
fsr-3798	117	17	yield	yield	NOUN
fsr-3798	117	18	may	may	AUX
fsr-3798	117	19	attract	attract	VERB
fsr-3798	117	20	more	more	ADJ
fsr-3798	117	21	investors	investor	NOUN
fsr-3798	117	22	to	to	ADP
fsr-3798	117	23	the	the	DET
fsr-3798	117	24	fund	fund	NOUN
fsr-3798	117	25	in	in	ADP
fsr-3798	117	26	the	the	DET
fsr-3798	117	27	future	future	NOUN
fsr-3798	117	28	,	,	PUNCT
fsr-3798	117	29	increasing	increase	VERB
fsr-3798	117	30	assets	asset	NOUN
fsr-3798	117	31	and	and	CCONJ
fsr-3798	117	32	fees	fee	NOUN
fsr-3798	117	33	.	.	PUNCT
fsr-3798	118	1	as	as	SCONJ
fsr-3798	118	2	predicted	predict	VERB
fsr-3798	118	3	,	,	PUNCT
fsr-3798	118	4	results	result	NOUN
fsr-3798	118	5	show	show	VERB
fsr-3798	118	6	that	that	SCONJ
fsr-3798	118	7	yield	yield	NOUN
fsr-3798	118	8	and	and	CCONJ
fsr-3798	118	9	tenure	tenure	NOUN
fsr-3798	118	10	are	be	AUX
fsr-3798	118	11	significantly	significantly	ADV
fsr-3798	118	12	positively	positively	ADV
fsr-3798	118	13	related	relate	VERB
fsr-3798	118	14	.	.	PUNCT
fsr-3798	119	1	the	the	DET
fsr-3798	119	2	relationship	relationship	NOUN
fsr-3798	119	3	between	between	ADP
fsr-3798	119	4	fund	fund	NOUN
fsr-3798	119	5	age	age	NOUN
fsr-3798	119	6	and	and	CCONJ
fsr-3798	119	7	yield	yield	NOUN
fsr-3798	119	8	may	may	AUX
fsr-3798	119	9	be	be	AUX
fsr-3798	119	10	positive	positive	ADJ
fsr-3798	119	11	.	.	PUNCT
fsr-3798	120	1	to	to	ADP
fsr-3798	120	2	the	the	DET
fsr-3798	120	3	extent	extent	NOUN
fsr-3798	120	4	that	that	PRON
fsr-3798	120	5	inves	inve	VERB
fsr-3798	120	6	tors	tor	NOUN
fsr-3798	120	7	prefer	prefer	VERB
fsr-3798	120	8	funds	fund	NOUN
fsr-3798	120	9	with	with	ADP
fsr-3798	120	10	larger	large	ADJ
fsr-3798	120	11	dividends	dividend	NOUN
fsr-3798	120	12	,	,	PUNCT
fsr-3798	120	13	funds	fund	NOUN
fsr-3798	120	14	providing	provide	VERB
fsr-3798	120	15	larger	large	ADJ
fsr-3798	120	16	dividends	dividend	NOUN
fsr-3798	120	17	survive	survive	VERB
fsr-3798	120	18	longer	long	ADV
fsr-3798	120	19	.	.	PUNCT
fsr-3798	121	1	table	table	NOUN
fsr-3798	121	2	2	2	NUM
fsr-3798	121	3	reports	report	VERB
fsr-3798	121	4	a	a	DET
fsr-3798	121	5	positive	positive	ADJ
fsr-3798	121	6	fund	fund	NOUN
fsr-3798	121	7	age	age	NOUN
fsr-3798	121	8	coefficient	coefficient	NOUN
fsr-3798	121	9	,	,	PUNCT
fsr-3798	121	10	but	but	CCONJ
fsr-3798	121	11	the	the	DET
fsr-3798	121	12	coefficient	coefficient	NOUN
fsr-3798	121	13	is	be	AUX
fsr-3798	121	14	statistically	statistically	ADV
fsr-3798	121	15	insignifi	insignifi	NOUN
fsr-3798	121	16	ca	can	AUX
fsr-3798	121	17	nt	not	PART
fsr-3798	121	18	.	.	PUNCT
fsr-3798	122	1	as	as	SCONJ
fsr-3798	122	2	funds	fund	NOUN
fsr-3798	122	3	grow	grow	VERB
fsr-3798	122	4	,	,	PUNCT
fsr-3798	122	5	managers	manager	NOUN
fsr-3798	122	6	typically	typically	ADV
fsr-3798	122	7	invest	invest	VERB
fsr-3798	122	8	in	in	ADP
fsr-3798	122	9	larger	large	ADJ
fsr-3798	122	10	companies	company	NOUN
fsr-3798	122	11	that	that	PRON
fsr-3798	122	12	usually	usually	ADV
fsr-3798	122	13	pay	pay	VERB
fsr-3798	122	14	rela	rela	NOUN
fsr-3798	122	15	tively	tively	ADV
fsr-3798	122	16	large	large	ADJ
fsr-3798	122	17	dividends	dividend	NOUN
fsr-3798	122	18	.	.	PUNCT
fsr-3798	123	1	on	on	ADP
fsr-3798	123	2	the	the	DET
fsr-3798	123	3	other	other	ADJ
fsr-3798	123	4	hand	hand	NOUN
fsr-3798	123	5	,	,	PUNCT
fsr-3798	123	6	this	this	DET
fsr-3798	123	7	effect	effect	NOUN
fsr-3798	123	8	could	could	AUX
fsr-3798	123	9	be	be	AUX
fsr-3798	123	10	offset	offset	VERB
fsr-3798	123	11	because	because	SCONJ
fsr-3798	123	12	a	a	DET
fsr-3798	123	13	larger	large	ADJ
fsr-3798	123	14	divi	divi	NOUN
fsr-3798	123	15	dend	dend	VERB
fsr-3798	123	16	payout	payout	NOUN
fsr-3798	123	17	means	mean	VERB
fsr-3798	123	18	less	less	ADJ
fsr-3798	123	19	assets	asset	NOUN
fsr-3798	123	20	,	,	PUNCT
fsr-3798	123	21	all	all	PRON
fsr-3798	123	22	else	else	ADV
fsr-3798	123	23	equal	equal	ADJ
fsr-3798	123	24	.	.	PUNCT
fsr-3798	124	1	the	the	DET
fsr-3798	124	2	positive	positive	ADJ
fsr-3798	124	3	asset	asset	NOUN
fsr-3798	124	4	coefficient	coefficient	NOUN
fsr-3798	124	5	indicates	indicate	VERB
fsr-3798	124	6	that	that	SCONJ
fsr-3798	124	7	the	the	DET
fsr-3798	124	8	effect	effect	NOUN
fsr-3798	124	9	of	of	ADP
fsr-3798	124	10	investing	invest	VERB
fsr-3798	124	11	in	in	ADP
fsr-3798	124	12	larger	large	ADJ
fsr-3798	124	13	companies	company	NOUN
fsr-3798	124	14	dominates	dominate	VERB
fsr-3798	124	15	.	.	PUNCT
fsr-3798	125	1	furthermore	furthermore	ADV
fsr-3798	125	2	,	,	PUNCT
fsr-3798	125	3	the	the	DET
fsr-3798	125	4	3sls	3sls	NUM
fsr-3798	125	5	structural	structural	ADJ
fsr-3798	125	6	coefficient	coefficient	NOUN
fsr-3798	125	7	(	(	PUNCT
fsr-3798	125	8	0.217	0.217	NUM
fsr-3798	125	9	)	)	PUNCT
fsr-3798	125	10	is	be	AUX
fsr-3798	125	11	smaller	small	ADJ
fsr-3798	125	12	than	than	ADP
fsr-3798	125	13	the	the	DET
fsr-3798	125	14	reduced	reduce	VERB
fsr-3798	125	15	form	form	NOUN
fsr-3798	125	16	coefficient	coefficient	NOUN
fsr-3798	125	17	(	(	PUNCT
fsr-3798	125	18	0.283	0.283	NUM
fsr-3798	125	19	)	)	PUNCT
fsr-3798	125	20	,	,	PUNCT
fsr-3798	125	21	indicating	indicate	VERB
fsr-3798	125	22	that	that	SCONJ
fsr-3798	125	23	large	large	ADJ
fsr-3798	125	24	funds	fund	NOUN
fsr-3798	125	25	probably	probably	ADV
fsr-3798	125	26	have	have	VERB
fsr-3798	125	27	proportionately	proportionately	ADV
fsr-3798	125	28	smaller	small	ADJ
fsr-3798	125	29	expenses	expense	NOUN
fsr-3798	125	30	which	which	PRON
fsr-3798	125	31	,	,	PUNCT
fsr-3798	125	32	in	in	ADP
fsr-3798	125	33	turn	turn	NOUN
fsr-3798	125	34	,	,	PUNCT
fsr-3798	125	35	lead	lead	VERB
fsr-3798	125	36	to	to	ADP
fsr-3798	125	37	larger	large	ADJ
fsr-3798	125	38	yields	yield	NOUN
fsr-3798	125	39	as	as	ADV
fsr-3798	125	40	well	well	ADV
fsr-3798	125	41	.	.	PUNCT
fsr-3798	126	1	this	this	DET
fsr-3798	126	2	point	point	NOUN
fsr-3798	126	3	illustrates	illustrate	VERB
fsr-3798	126	4	the	the	DET
fsr-3798	126	5	value	value	NOUN
fsr-3798	126	6	of	of	ADP
fsr-3798	126	7	the	the	DET
fsr-3798	126	8	simultaneous	simultaneous	ADJ
fsr-3798	126	9	model	model	NOUN
fsr-3798	126	10	.	.	PUNCT
fsr-3798	127	1	because	because	SCONJ
fsr-3798	127	2	fees	fee	NOUN
fsr-3798	127	3	enter	enter	VERB
fsr-3798	127	4	the	the	DET
fsr-3798	127	5	structural	structural	ADJ
fsr-3798	127	6	model	model	NOUN
fsr-3798	127	7	,	,	PUNCT
fsr-3798	127	8	there	there	PRON
fsr-3798	127	9	will	will	AUX
fsr-3798	127	10	be	be	AUX
fsr-3798	127	11	an	an	DET
fsr-3798	127	12	indirect	indirect	ADJ
fsr-3798	127	13	effect	effect	NOUN
fsr-3798	127	14	of	of	ADP
fsr-3798	127	15	assets	asset	NOUN
fsr-3798	127	16	on	on	ADP
fsr-3798	127	17	yield	yield	NOUN
fsr-3798	127	18	through	through	ADP
fsr-3798	127	19	fees	fee	NOUN
fsr-3798	127	20	.	.	PUNCT
fsr-3798	128	1	as	as	SCONJ
fsr-3798	128	2	shown	show	VERB
fsr-3798	128	3	below	below	ADP
fsr-3798	128	4	,	,	PUNCT
fsr-3798	128	5	more	more	ADJ
fsr-3798	128	6	assets	asset	NOUN
fsr-3798	128	7	lead	lead	VERB
fsr-3798	128	8	to	to	ADP
fsr-3798	128	9	lower	low	ADJ
fsr-3798	128	10	fees	fee	NOUN
fsr-3798	128	11	and	and	CCONJ
fsr-3798	128	12	,	,	PUNCT
fsr-3798	128	13	as	as	SCONJ
fsr-3798	128	14	noted	note	VERB
fsr-3798	128	15	above	above	ADV
fsr-3798	128	16	,	,	PUNCT
fsr-3798	128	17	lower	low	ADJ
fsr-3798	128	18	fees	fee	NOUN
fsr-3798	128	19	lead	lead	VERB
fsr-3798	128	20	to	to	ADP
fsr-3798	128	21	larger	large	ADJ
fsr-3798	128	22	yields	yield	NOUN
fsr-3798	128	23	.	.	PUNCT
fsr-3798	129	1	the	the	DET
fsr-3798	129	2	reduced	reduce	VERB
fsr-3798	129	3	form	form	NOUN
fsr-3798	129	4	assets	asset	NOUN
fsr-3798	129	5	coefficient	coefficient	NOUN
fsr-3798	129	6	picks	pick	VERB
fsr-3798	129	7	up	up	ADP
fsr-3798	129	8	both	both	DET
fsr-3798	129	9	effects	effect	NOUN
fsr-3798	129	10	;	;	PUNCT
fsr-3798	129	11	hence	hence	ADV
fsr-3798	129	12	it	it	PRON
fsr-3798	129	13	is	be	AUX
fsr-3798	129	14	larger	large	ADJ
fsr-3798	129	15	than	than	ADP
fsr-3798	129	16	the	the	DET
fsr-3798	129	17	structural	structural	ADJ
fsr-3798	129	18	coefficient	coefficient	NOUN
fsr-3798	129	19	.	.	PUNCT
fsr-3798	130	1	fund	fund	NOUN
fsr-3798	130	2	objective	objective	NOUN
fsr-3798	130	3	will	will	AUX
fsr-3798	130	4	impact	impact	VERB
fsr-3798	130	5	yield	yield	NOUN
fsr-3798	130	6	since	since	SCONJ
fsr-3798	130	7	yield	yield	NOUN
fsr-3798	130	8	requirements	requirement	NOUN
fsr-3798	130	9	may	may	AUX
fsr-3798	130	10	be	be	AUX
fsr-3798	130	11	written	write	VERB
fsr-3798	130	12	into	into	ADP
fsr-3798	130	13	a	a	DET
fsr-3798	130	14	fund	fund	NOUN
fsr-3798	130	15	’s	’s	PART
fsr-3798	130	16	charter	charter	NOUN
fsr-3798	130	17	.	.	PUNCT
fsr-3798	131	1	the	the	DET
fsr-3798	131	2	coefficients	coefficient	NOUN
fsr-3798	131	3	on	on	ADP
fsr-3798	131	4	the	the	DET
fsr-3798	131	5	fund	fund	NOUN
fsr-3798	131	6	objective	objective	ADJ
fsr-3798	131	7	dummies	dummy	NOUN
fsr-3798	131	8	are	be	AUX
fsr-3798	131	9	all	all	ADV
fsr-3798	131	10	as	as	SCONJ
fsr-3798	131	11	one	one	PRON
fsr-3798	131	12	might	might	AUX
fsr-3798	131	13	expect	expect	VERB
fsr-3798	131	14	;	;	PUNCT
fsr-3798	131	15	for	for	ADP
fsr-3798	131	16	example	example	NOUN
fsr-3798	131	17	,	,	PUNCT
fsr-3798	131	18	growth	growth	NOUN
fsr-3798	131	19	and	and	CCONJ
fsr-3798	131	20	income	income	NOUN
fsr-3798	131	21	funds	fund	NOUN
fsr-3798	131	22	provide	provide	VERB
fsr-3798	131	23	a	a	DET
fsr-3798	131	24	1.874	1.874	NUM
fsr-3798	131	25	percentage	percentage	NOUN
fsr-3798	131	26	point	point	NOUN
fsr-3798	131	27	greater	great	ADJ
fsr-3798	131	28	yield	yield	NOUN
fsr-3798	131	29	than	than	ADP
fsr-3798	131	30	growth	growth	NOUN
fsr-3798	131	31	funds	fund	NOUN
fsr-3798	131	32	(	(	PUNCT
fsr-3798	131	33	the	the	DET
fsr-3798	131	34	comparison	comparison	NOUN
fsr-3798	131	35	group	group	NOUN
fsr-3798	131	36	)	)	PUNCT
fsr-3798	131	37	on	on	ADP
fsr-3798	131	38	average	average	ADJ
fsr-3798	131	39	.	.	PUNCT
fsr-3798	132	1	note	note	VERB
fsr-3798	132	2	that	that	SCONJ
fsr-3798	132	3	the	the	DET
fsr-3798	132	4	larger	large	ADJ
fsr-3798	132	5	reduced	reduce	VERB
fsr-3798	132	6	form	form	NOUN
fsr-3798	132	7	coeffi	coeffi	VERB
fsr-3798	132	8	cient	cient	NOUN
fsr-3798	132	9	implies	imply	VERB
fsr-3798	132	10	a	a	DET
fsr-3798	132	11	2.002	2.002	NUM
fsr-3798	132	12	percentage	percentage	NOUN
fsr-3798	132	13	point	point	NOUN
fsr-3798	132	14	greater	great	ADJ
fsr-3798	132	15	yield	yield	NOUN
fsr-3798	132	16	for	for	ADP
fsr-3798	132	17	growth	growth	NOUN
fsr-3798	132	18	and	and	CCONJ
fsr-3798	132	19	income	income	NOUN
fsr-3798	132	20	funds	fund	NOUN
fsr-3798	132	21	because	because	SCONJ
fsr-3798	132	22	of	of	ADP
fsr-3798	132	23	the	the	DET
fsr-3798	132	24	indirect	indirect	ADJ
fsr-3798	132	25	effect	effect	NOUN
fsr-3798	132	26	of	of	ADP
fsr-3798	132	27	growth	growth	NOUN
fsr-3798	132	28	and	and	CCONJ
fsr-3798	132	29	income	income	NOUN
fsr-3798	132	30	funds	fund	NOUN
fsr-3798	132	31	’	'	PUNCT
fsr-3798	132	32	smaller	small	ADJ
fsr-3798	132	33	expenses	expense	NOUN
fsr-3798	132	34	on	on	ADP
fsr-3798	132	35	yield	yield	NOUN
fsr-3798	132	36	.	.	PUNCT
fsr-3798	133	1	mutual	mutual	ADJ
fsr-3798	133	2	fund	fund	NOUN
fsr-3798	133	3	managers	manager	NOUN
fsr-3798	133	4	139	139	NUM
fsr-3798	133	5	overall	overall	ADJ
fsr-3798	133	6	,	,	PUNCT
fsr-3798	133	7	the	the	DET
fsr-3798	133	8	most	most	ADV
fsr-3798	133	9	notable	notable	ADJ
fsr-3798	133	10	result	result	NOUN
fsr-3798	133	11	from	from	ADP
fsr-3798	133	12	the	the	DET
fsr-3798	133	13	yield	yield	NOUN
fsr-3798	133	14	equation	equation	NOUN
fsr-3798	133	15	is	be	AUX
fsr-3798	133	16	that	that	SCONJ
fsr-3798	133	17	long	long	ADV
fsr-3798	133	18	-	-	PUNCT
fsr-3798	133	19	tenured	tenure	VERB
fsr-3798	133	20	managers	manager	NOUN
fsr-3798	133	21	tend	tend	VERB
fsr-3798	133	22	to	to	PART
fsr-3798	133	23	boost	boost	VERB
fsr-3798	133	24	fund	fund	NOUN
fsr-3798	133	25	yield	yield	NOUN
fsr-3798	133	26	.	.	PUNCT
fsr-3798	134	1	investors	investor	NOUN
fsr-3798	134	2	who	who	PRON
fsr-3798	134	3	prefer	prefer	VERB
fsr-3798	134	4	larger	large	ADJ
fsr-3798	134	5	yields	yield	NOUN
fsr-3798	134	6	,	,	PUNCT
fsr-3798	134	7	all	all	PRON
fsr-3798	134	8	else	else	ADV
fsr-3798	134	9	equal	equal	ADJ
fsr-3798	134	10	,	,	PUNCT
fsr-3798	134	11	should	should	AUX
fsr-3798	134	12	find	find	VERB
fsr-3798	134	13	them	they	PRON
fsr-3798	134	14	at	at	ADP
fsr-3798	134	15	funds	fund	NOUN
fsr-3798	134	16	with	with	ADP
fsr-3798	134	17	managers	manager	NOUN
fsr-3798	134	18	with	with	ADP
fsr-3798	134	19	relatively	relatively	ADV
fsr-3798	134	20	long	long	ADJ
fsr-3798	134	21	tenure	tenure	NOUN
fsr-3798	134	22	(	(	PUNCT
fsr-3798	134	23	greater	great	ADJ
fsr-3798	134	24	than	than	ADP
fsr-3798	134	25	seven	seven	NUM
fsr-3798	134	26	years	year	NOUN
fsr-3798	134	27	)	)	PUNCT
fsr-3798	134	28	.	.	PUNCT
fsr-3798	135	1	the	the	DET
fsr-3798	135	2	alpha	alpha	NOUN
fsr-3798	135	3	equation	equation	NOUN
fsr-3798	135	4	is	be	AUX
fsr-3798	135	5	:	:	PUNCT
fsr-3798	135	6	alpha	alpha	NOUN
fsr-3798	135	7	=	=	PUNCT
fsr-3798	135	8	(	(	PUNCT
fsr-3798	135	9	beta	beta	NOUN
fsr-3798	135	10	,	,	PUNCT
fsr-3798	135	11	residual	residual	ADJ
fsr-3798	135	12	,	,	PUNCT
fsr-3798	135	13	expense	expense	NOUN
fsr-3798	135	14	,	,	PUNCT
fsr-3798	135	15	fee	fee	NOUN
fsr-3798	135	16	,	,	PUNCT
fsr-3798	135	17	turnover	turnover	NOUN
fsr-3798	135	18	,	,	PUNCT
fsr-3798	135	19	manager	manager	NOUN
fsr-3798	135	20	age	age	NOUN
fsr-3798	135	21	,	,	PUNCT
fsr-3798	135	22	tenure	tenure	NOUN
fsr-3798	135	23	,	,	PUNCT
fsr-3798	135	24	education	education	NOUN
fsr-3798	135	25	,	,	PUNCT
fsr-3798	135	26	mba	mba	NOUN
fsr-3798	135	27	,	,	PUNCT
fsr-3798	135	28	team	team	NOUN
fsr-3798	135	29	size	size	NOUN
fsr-3798	135	30	,	,	PUNCT
fsr-3798	135	31	fund	fund	NOUN
fsr-3798	135	32	age	age	NOUN
fsr-3798	135	33	,	,	PUNCT
fsr-3798	135	34	assets	asset	NOUN
fsr-3798	135	35	)	)	PUNCT
fsr-3798	135	36	(	(	PUNCT
fsr-3798	135	37	2	2	X
fsr-3798	135	38	)	)	PUNCT
fsr-3798	135	39	friend	friend	NOUN
fsr-3798	135	40	and	and	CCONJ
fsr-3798	135	41	blume	blume	PROPN
fsr-3798	135	42	(	(	PUNCT
fsr-3798	135	43	1970	1970	NUM
fsr-3798	135	44	)	)	PUNCT
fsr-3798	135	45	show	show	VERB
fsr-3798	135	46	that	that	SCONJ
fsr-3798	135	47	alpha	alpha	NOUN
fsr-3798	135	48	and	and	CCONJ
fsr-3798	135	49	beta	beta	NOUN
fsr-3798	135	50	are	be	AUX
fsr-3798	135	51	weakly	weakly	ADV
fsr-3798	135	52	negatively	negatively	ADV
fsr-3798	135	53	related	relate	VERB
fsr-3798	135	54	.	.	PUNCT
fsr-3798	136	1	residual	residual	ADJ
fsr-3798	136	2	standard	standard	ADJ
fsr-3798	136	3	deviation	deviation	NOUN
fsr-3798	136	4	coefficient	coefficient	NOUN
fsr-3798	136	5	may	may	AUX
fsr-3798	136	6	be	be	AUX
fsr-3798	136	7	negatively	negatively	ADV
fsr-3798	136	8	related	relate	VERB
fsr-3798	136	9	to	to	ADP
fsr-3798	136	10	alpha	alpha	NOUN
fsr-3798	136	11	because	because	SCONJ
fsr-3798	136	12	noise	noise	NOUN
fsr-3798	136	13	trading	trading	NOUN
fsr-3798	136	14	by	by	ADP
fsr-3798	136	15	fund	fund	NOUN
fsr-3798	136	16	managers	manager	NOUN
fsr-3798	136	17	has	have	VERB
fsr-3798	136	18	negative	negative	ADJ
fsr-3798	136	19	performance	performance	NOUN
fsr-3798	136	20	consequences	consequence	NOUN
fsr-3798	136	21	(	(	PUNCT
fsr-3798	136	22	see	see	VERB
fsr-3798	136	23	black	black	ADJ
fsr-3798	136	24	,	,	PUNCT
fsr-3798	136	25	1986	1986	NUM
fsr-3798	136	26	)	)	PUNCT
fsr-3798	136	27	.	.	PUNCT
fsr-3798	137	1	mis	mis	PROPN
fsr-3798	137	2	specification	specification	NOUN
fsr-3798	137	3	of	of	ADP
fsr-3798	137	4	the	the	DET
fsr-3798	137	5	asset	asset	NOUN
fsr-3798	137	6	-	-	PUNCT
fsr-3798	137	7	pricing	pricing	NOUN
fsr-3798	137	8	model	model	NOUN
fsr-3798	137	9	can	can	AUX
fsr-3798	137	10	also	also	ADV
fsr-3798	137	11	lead	lead	VERB
fsr-3798	137	12	to	to	ADP
fsr-3798	137	13	cross	cross	ADJ
fsr-3798	137	14	-	-	ADJ
fsr-3798	137	15	sectional	sectional	ADJ
fsr-3798	137	16	correlation	correlation	NOUN
fsr-3798	137	17	between	between	ADP
fsr-3798	137	18	alpha	alpha	NOUN
fsr-3798	137	19	,	,	PUNCT
fsr-3798	137	20	beta	beta	NOUN
fsr-3798	137	21	,	,	PUNCT
fsr-3798	137	22	and	and	CCONJ
fsr-3798	137	23	residual	residual	ADJ
fsr-3798	137	24	standard	standard	ADJ
fsr-3798	137	25	deviation	deviation	NOUN
fsr-3798	137	26	.	.	PUNCT
fsr-3798	138	1	as	as	SCONJ
fsr-3798	138	2	expected	expect	VERB
fsr-3798	138	3	,	,	PUNCT
fsr-3798	138	4	table	table	NOUN
fsr-3798	138	5	2	2	NUM
fsr-3798	138	6	shows	show	VERB
fsr-3798	138	7	that	that	SCONJ
fsr-3798	138	8	alpha	alpha	NOUN
fsr-3798	138	9	is	be	AUX
fsr-3798	138	10	negatively	negatively	ADV
fsr-3798	138	11	related	relate	VERB
fsr-3798	138	12	to	to	ADP
fsr-3798	138	13	beta	beta	ADJ
fsr-3798	138	14	and	and	CCONJ
fsr-3798	138	15	residual	residual	ADJ
fsr-3798	138	16	standard	standard	ADJ
fsr-3798	138	17	deviation	deviation	NOUN
fsr-3798	138	18	although	although	SCONJ
fsr-3798	138	19	the	the	DET
fsr-3798	138	20	beta	beta	PROPN
fsr-3798	138	21	rela	rela	PROPN
fsr-3798	138	22	tionship	tionship	NOUN
fsr-3798	138	23	is	be	AUX
fsr-3798	138	24	not	not	PART
fsr-3798	138	25	significant	significant	ADJ
fsr-3798	138	26	.	.	PUNCT
fsr-3798	139	1	at	at	ADP
fsr-3798	139	2	a	a	DET
fsr-3798	139	3	basic	basic	ADJ
fsr-3798	139	4	level	level	NOUN
fsr-3798	139	5	,	,	PUNCT
fsr-3798	139	6	expense	expense	NOUN
fsr-3798	139	7	ratio	ratio	NOUN
fsr-3798	139	8	,	,	PUNCT
fsr-3798	139	9	management	management	NOUN
fsr-3798	139	10	fee	fee	NOUN
fsr-3798	139	11	and	and	CCONJ
fsr-3798	139	12	turnover	turnover	NOUN
fsr-3798	139	13	should	should	AUX
fsr-3798	139	14	all	all	PRON
fsr-3798	139	15	be	be	AUX
fsr-3798	139	16	negatively	negatively	ADV
fsr-3798	139	17	related	relate	VERB
fsr-3798	139	18	to	to	ADP
fsr-3798	139	19	alpha	alpha	NOUN
fsr-3798	139	20	because	because	SCONJ
fsr-3798	139	21	the	the	DET
fsr-3798	139	22	costs	cost	NOUN
fsr-3798	139	23	are	be	AUX
fsr-3798	139	24	deducted	deduct	VERB
fsr-3798	139	25	from	from	ADP
fsr-3798	139	26	shareholder	shareholder	NOUN
fsr-3798	139	27	returns	return	NOUN
fsr-3798	139	28	.	.	PUNCT
fsr-3798	140	1	but	but	CCONJ
fsr-3798	140	2	the	the	DET
fsr-3798	140	3	manage	manage	NOUN
fsr-3798	140	4	table	table	NOUN
fsr-3798	140	5	2	2	NUM
fsr-3798	140	6	yield	yield	NOUN
fsr-3798	140	7	and	and	CCONJ
fsr-3798	140	8	alpha	alpha	NOUN
fsr-3798	140	9	3sls	3sls	NUM
fsr-3798	140	10	structural	structural	ADJ
fsr-3798	140	11	and	and	CCONJ
fsr-3798	140	12	reduced	reduced	ADJ
fsr-3798	140	13	form	form	NOUN
fsr-3798	140	14	regressions	regression	NOUN
fsr-3798	140	15	yield	yield	NOUN
fsr-3798	140	16	regressions	regression	NOUN
fsr-3798	140	17	structural	structural	ADJ
fsr-3798	140	18	reduced	reduce	VERB
fsr-3798	140	19	alpha	alpha	NOUN
fsr-3798	140	20	regressions	regression	NOUN
fsr-3798	140	21	structurul	structurul	NOUN
fsr-3798	140	22	reduced	reduce	VERB
fsr-3798	140	23	endrogenous	endrogenous	ADJ
fsr-3798	140	24	variables	variable	NOUN
fsr-3798	140	25	intercept	intercept	NOUN
fsr-3798	140	26	yield	yield	NOUN
fsr-3798	140	27	(	(	PUNCT
fsr-3798	140	28	%	%	INTJ
fsr-3798	140	29	)	)	PUNCT
fsr-3798	140	30	alpha	alpha	NOUN
fsr-3798	140	31	(	(	PUNCT
fsr-3798	140	32	%	%	INTJ
fsr-3798	140	33	)	)	PUNCT
fsr-3798	140	34	beta	beta	PROPN
fsr-3798	140	35	residual	residual	ADJ
fsr-3798	140	36	st	st	PROPN
fsr-3798	140	37	.	.	PROPN
fsr-3798	140	38	dev	dev	PROPN
fsr-3798	140	39	.	.	PUNCT
fsr-3798	141	1	(	(	PUNCT
fsr-3798	141	2	%	%	INTJ
fsr-3798	141	3	)	)	PUNCT
fsr-3798	141	4	expense	expense	NOUN
fsr-3798	141	5	ratio	ratio	NOUN
fsr-3798	141	6	(	(	PUNCT
fsr-3798	141	7	%	%	INTJ
fsr-3798	141	8	)	)	PUNCT
fsr-3798	141	9	management	management	NOUN
fsr-3798	141	10	fee	fee	NOUN
fsr-3798	141	11	(	(	PUNCT
fsr-3798	141	12	%	%	INTJ
fsr-3798	141	13	)	)	PUNCT
fsr-3798	141	14	turnover	turnover	NOUN
fsr-3798	141	15	(	(	PUNCT
fsr-3798	141	16	%	%	INTJ
fsr-3798	141	17	)	)	PUNCT
fsr-3798	141	18	exogenous	exogenous	ADJ
fsr-3798	141	19	variables	variable	NOUN
fsr-3798	141	20	2.618	2.618	NUM
fsr-3798	141	21	*	*	NUM
fsr-3798	141	22	2.559	2.559	NUM
fsr-3798	141	23	1.210	1.210	NUM
fsr-3798	141	24	-2.269	-2.269	NOUN
fsr-3798	141	25	-0.469	-0.469	X
fsr-3798	141	26	-0.410	-0.410	PROPN
fsr-3798	141	27	*	*	PUNCT
fsr-3798	141	28	xl.014	xl.014	PROPN
fsr-3798	141	29	-1.178	-1.178	PROPN
fsr-3798	141	30	*	*	PUNCT
fsr-3798	141	31	-1.590	-1.590	PROPN
fsr-3798	141	32	*	*	X
fsr-3798	141	33	5.092	5.092	NUM
fsr-3798	141	34	*	*	SYM
fsr-3798	141	35	0.003	0.003	NUM
fsr-3798	141	36	0.006	0.006	NUM
fsr-3798	141	37	manager	manager	NOUN
fsr-3798	141	38	age	age	NOUN
fsr-3798	141	39	(	(	PUNCT
fsr-3798	141	40	years	year	NOUN
fsr-3798	141	41	)	)	PUNCT
fsr-3798	141	42	tenure	tenure	NOUN
fsr-3798	141	43	(	(	PUNCT
fsr-3798	141	44	years	year	NOUN
fsr-3798	141	45	)	)	PUNCT
fsr-3798	141	46	years	year	NOUN
fsr-3798	141	47	of	of	ADP
fsr-3798	141	48	education	education	NOUN
fsr-3798	141	49	mba	mba	NOUN
fsr-3798	141	50	degree	degree	NOUN
fsr-3798	141	51	team	team	NOUN
fsr-3798	141	52	size	size	NOUN
fsr-3798	141	53	fund	fund	NOUN
fsr-3798	141	54	age	age	NOUN
fsr-3798	141	55	(	(	PUNCT
fsr-3798	141	56	years	year	NOUN
fsr-3798	141	57	)	)	PUNCT
fsr-3798	141	58	fund	fund	NOUN
fsr-3798	141	59	asset	asset	NOUN
fsr-3798	141	60	?	?	PUNCT
fsr-3798	142	1	(	(	PUNCT
fsr-3798	142	2	millions	million	NOUN
fsr-3798	142	3	)	)	PUNCT
fsr-3798	142	4	load	load	NOUN
fsr-3798	142	5	(	(	PUNCT
fsr-3798	142	6	%	%	NOUN
fsr-3798	142	7	)	)	PUNCT
fsr-3798	142	8	fund	fund	NOUN
fsr-3798	142	9	objectives	objective	NOUN
fsr-3798	142	10	growth	growth	VERB
fsr-3798	142	11	aggressive	aggressive	ADJ
fsr-3798	142	12	growth	growth	NOUN
fsr-3798	142	13	growth	growth	NOUN
fsr-3798	142	14	and	and	CCONJ
fsr-3798	142	15	income	income	VERB
fsr-3798	142	16	small	small	ADJ
fsr-3798	142	17	stock	stock	NOUN
fsr-3798	142	18	special	special	ADJ
fsr-3798	142	19	balanced	balanced	ADJ
fsr-3798	142	20	asset	asset	NOUN
fsr-3798	142	21	allocation	allocation	NOUN
fsr-3798	142	22	option	option	NOUN
fsr-3798	142	23	equity	equity	NOUN
fsr-3798	142	24	international	international	ADJ
fsr-3798	142	25	0.001	0.001	NUM
fsr-3798	142	26	a.003	a.003	X
fsr-3798	142	27	0.053	0.053	NUM
fsr-3798	142	28	*	*	PUNCT
fsr-3798	142	29	0.052	0.052	NUM
fsr-3798	142	30	*	*	PUNCT
fsr-3798	142	31	-0.047	-0.047	NUM
fsr-3798	142	32	0.065	0.065	NUM
fsr-3798	142	33	a.070	a.070	NUM
fsr-3798	142	34	0.001	0.001	NUM
fsr-3798	142	35	0.005	0.005	NUM
fsr-3798	142	36	0.217	0.217	NUM
fsr-3798	142	37	*	*	PUNCT
fsr-3798	142	38	0.283	0.283	NUM
fsr-3798	142	39	*	*	NOUN
fsr-3798	142	40	0.012	0.012	NUM
fsr-3798	142	41	-1.043	-1.043	NOUN
fsr-3798	142	42	*	*	NOUN
fsr-3798	143	1	1.874	1.874	NUM
fsr-3798	143	2	*	*	PUNCT
fsr-3798	143	3	-1.034	-1.034	PROPN
fsr-3798	143	4	*	*	PUNCT
fsr-3798	143	5	-0.449	-0.449	NOUN
fsr-3798	143	6	*	*	PUNCT
fsr-3798	143	7	*	*	PROPN
fsr-3798	143	8	3.279	3.279	NUM
fsr-3798	143	9	*	*	SYM
fsr-3798	143	10	2.880	2.880	NUM
fsr-3798	143	11	*	*	SYM
fsr-3798	143	12	2.129	2.129	NUM
fsr-3798	143	13	*	*	PUNCT
fsr-3798	143	14	-0.237	-0.237	PUNCT
fsr-3798	143	15	-0.900	-0.900	X
fsr-3798	143	16	*	*	PUNCT
fsr-3798	143	17	2.002	2.002	NUM
fsr-3798	143	18	*	*	NOUN
fsr-3798	143	19	4.986	4.986	NUM
fsr-3798	143	20	*	*	PUNCT
fsr-3798	143	21	-0.321	-0.321	PUNCT
fsr-3798	143	22	3.469	3.469	NUM
fsr-3798	143	23	*	*	NOUN
fsr-3798	143	24	2.872	2.872	NUM
fsr-3798	143	25	*	*	SYM
fsr-3798	143	26	2.057	2.057	NUM
fsr-3798	143	27	*	*	SYM
fsr-3798	143	28	-0.332	-0.332	PUNCT
fsr-3798	143	29	-0.076	-0.076	PUNCT
fsr-3798	143	30	*	*	PUNCT
fsr-3798	143	31	-0.083	-0.083	PROPN
fsr-3798	143	32	*	*	PUNCT
fsr-3798	143	33	0.165	0.165	NUM
fsr-3798	143	34	*	*	PUNCT
fsr-3798	143	35	0.185	0.185	NUM
fsr-3798	143	36	*	*	PUNCT
fsr-3798	143	37	xi.084	xi.084	PROPN
fsr-3798	143	38	0.165	0.165	NUM
fsr-3798	143	39	0.943	0.943	NUM
fsr-3798	143	40	*	*	X
fsr-3798	143	41	*	*	NOUN
fsr-3798	143	42	0.599	0.599	NUM
fsr-3798	143	43	-0.337	-0.337	NOUN
fsr-3798	143	44	-0.141	-0.141	SYM
fsr-3798	143	45	-0.012	-0.012	NOUN
fsr-3798	143	46	-0.011	-0.011	NOUN
fsr-3798	143	47	-0.010	-0.010	PUNCT
fsr-3798	143	48	0.013	0.013	NUM
fsr-3798	143	49	-0.068	-0.068	X
fsr-3798	144	1	-2.152	-2.152	PROPN
fsr-3798	144	2	*	*	NOUN
fsr-3798	144	3	0.258	0.258	NUM
fsr-3798	144	4	-1.429	-1.429	ADJ
fsr-3798	144	5	*	*	PUNCT
fsr-3798	144	6	-1.913	-1.913	X
fsr-3798	144	7	*	*	NOUN
fsr-3798	144	8	0.585	0.585	NUM
fsr-3798	144	9	1.542	1.542	NUM
fsr-3798	144	10	0.863	0.863	NUM
fsr-3798	144	11	-2.48	-2.48	NUM
fsr-3798	144	12	1	1	NUM
fsr-3798	144	13	*	*	SYM
fsr-3798	144	14	r	r	X
fsr-3798	144	15	-	-	PUNCT
fsr-3798	144	16	squared	square	VERB
fsr-3798	144	17	0.42	0.42	NUM
fsr-3798	144	18	0.43	0.43	NUM
fsr-3798	144	19	0.12	0.12	NUM
fsr-3798	144	20	0.10	0.10	NUM
fsr-3798	144	21	notes	note	NOUN
fsr-3798	144	22	:	:	PUNCT
fsr-3798	144	23	adivide	adivide	NOUN
fsr-3798	144	24	coefficients	coefficient	NOUN
fsr-3798	144	25	by	by	ADP
fsr-3798	144	26	looo.*(**)significant	looo.*(**)significant	NOUN
fsr-3798	144	27	at	at	ADP
fsr-3798	144	28	least	least	ADJ
fsr-3798	144	29	at	at	ADP
fsr-3798	144	30	the	the	DET
fsr-3798	144	31	5	5	NUM
fsr-3798	144	32	(	(	PUNCT
fsr-3798	144	33	io	io	NOUN
fsr-3798	144	34	)	)	PUNCT
fsr-3798	144	35	percent	percent	NOUN
fsr-3798	144	36	level	level	NOUN
fsr-3798	144	37	using	use	VERB
fsr-3798	144	38	a	a	DET
fsr-3798	144	39	two	two	NUM
fsr-3798	144	40	-	-	PUNCT
fsr-3798	144	41	tailed	tail	VERB
fsr-3798	144	42	test	test	NOUN
fsr-3798	144	43	.	.	PUNCT
fsr-3798	145	1	140	140	NUM
fsr-3798	145	2	financial	financial	ADJ
fsr-3798	145	3	services	service	NOUN
fsr-3798	145	4	review	review	VERB
fsr-3798	145	5	5(2	5(2	NUM
fsr-3798	145	6	)	)	PUNCT
fsr-3798	146	1	1996	1996	NUM
fsr-3798	146	2	ment	ment	NOUN
fsr-3798	146	3	fees	fee	NOUN
fsr-3798	146	4	and	and	CCONJ
fsr-3798	146	5	turnover	turnover	NOUN
fsr-3798	146	6	costs	cost	NOUN
fsr-3798	146	7	are	be	AUX
fsr-3798	146	8	presumably	presumably	ADV
fsr-3798	146	9	paid	pay	VERB
fsr-3798	146	10	to	to	PART
fsr-3798	146	11	facilitate	facilitate	VERB
fsr-3798	146	12	productive	productive	ADJ
fsr-3798	146	13	input	input	NOUN
fsr-3798	146	14	from	from	ADP
fsr-3798	146	15	the	the	DET
fsr-3798	146	16	manager	manager	NOUN
fsr-3798	146	17	.	.	PUNCT
fsr-3798	147	1	trueman	trueman	PROPN
fsr-3798	147	2	(	(	PUNCT
fsr-3798	147	3	1988	1988	NUM
fsr-3798	147	4	)	)	PUNCT
fsr-3798	147	5	suggests	suggest	VERB
fsr-3798	147	6	that	that	SCONJ
fsr-3798	147	7	turnover	turnover	NOUN
fsr-3798	147	8	is	be	AUX
fsr-3798	147	9	a	a	DET
fsr-3798	147	10	positive	positive	ADJ
fsr-3798	147	11	information	information	NOUN
fsr-3798	147	12	signal	signal	NOUN
fsr-3798	147	13	.	.	PUNCT
fsr-3798	148	1	holm	holm	PROPN
fsr-3798	148	2	strom	strom	PROPN
fsr-3798	148	3	and	and	CCONJ
fsr-3798	148	4	ricart	ricart	PROPN
fsr-3798	149	1	i	i	PROPN
fsr-3798	149	2	costa	costa	PROPN
fsr-3798	149	3	(	(	PUNCT
fsr-3798	149	4	1986	1986	NUM
fsr-3798	149	5	)	)	PUNCT
fsr-3798	149	6	and	and	CCONJ
fsr-3798	149	7	lambert	lambert	PROPN
fsr-3798	149	8	(	(	PUNCT
fsr-3798	149	9	1986	1986	NUM
fsr-3798	149	10	)	)	PUNCT
fsr-3798	149	11	suggest	suggest	VERB
fsr-3798	149	12	corporate	corporate	ADJ
fsr-3798	149	13	managers	manager	NOUN
fsr-3798	149	14	try	try	VERB
fsr-3798	149	15	to	to	ADP
fsr-3798	149	16	sig	sig	PRON
fsr-3798	149	17	nal	nal	VERB
fsr-3798	149	18	their	their	PRON
fsr-3798	149	19	skill	skill	NOUN
fsr-3798	149	20	through	through	ADP
fsr-3798	149	21	the	the	DET
fsr-3798	149	22	volume	volume	NOUN
fsr-3798	149	23	of	of	ADP
fsr-3798	149	24	capital	capital	NOUN
fsr-3798	149	25	investments	investment	NOUN
fsr-3798	149	26	.	.	PUNCT
fsr-3798	150	1	table	table	NOUN
fsr-3798	150	2	2	2	NUM
fsr-3798	150	3	shows	show	VERB
fsr-3798	150	4	a	a	DET
fsr-3798	150	5	strong	strong	ADJ
fsr-3798	150	6	positive	positive	ADJ
fsr-3798	150	7	relationship	relationship	NOUN
fsr-3798	150	8	between	between	ADP
fsr-3798	150	9	alpha	alpha	NOUN
fsr-3798	150	10	and	and	CCONJ
fsr-3798	150	11	management	management	NOUN
fsr-3798	150	12	fee	fee	NOUN
fsr-3798	150	13	.	.	PUNCT
fsr-3798	151	1	the	the	DET
fsr-3798	151	2	management	management	NOUN
fsr-3798	151	3	fee	fee	NOUN
fsr-3798	151	4	coefficient	coefficient	NOUN
fsr-3798	151	5	is	be	AUX
fsr-3798	151	6	5.092	5.092	NUM
fsr-3798	151	7	,	,	PUNCT
fsr-3798	151	8	indicating	indicate	VERB
fsr-3798	151	9	that	that	SCONJ
fsr-3798	151	10	a	a	DET
fsr-3798	151	11	one	one	NUM
fsr-3798	151	12	basis	basis	NOUN
fsr-3798	151	13	point	point	NOUN
fsr-3798	151	14	increase	increase	NOUN
fsr-3798	151	15	in	in	ADP
fsr-3798	151	16	manage	manage	NOUN
fsr-3798	151	17	ment	ment	ADJ
fsr-3798	151	18	fee	fee	NOUN
fsr-3798	151	19	increases	increase	NOUN
fsr-3798	151	20	fund	fund	NOUN
fsr-3798	151	21	alpha	alpha	NOUN
fsr-3798	151	22	by	by	ADP
fsr-3798	151	23	about	about	ADV
fsr-3798	151	24	five	five	NUM
fsr-3798	151	25	basis	basis	NOUN
fsr-3798	151	26	points	point	NOUN
fsr-3798	151	27	.	.	PUNCT
fsr-3798	152	1	the	the	DET
fsr-3798	152	2	negative	negative	ADJ
fsr-3798	152	3	relationship	relationship	NOUN
fsr-3798	152	4	between	between	ADP
fsr-3798	152	5	alpha	alpha	NOUN
fsr-3798	152	6	and	and	CCONJ
fsr-3798	152	7	expense	expense	NOUN
fsr-3798	152	8	ratio	ratio	NOUN
fsr-3798	152	9	indicates	indicate	VERB
fsr-3798	152	10	administration	administration	NOUN
fsr-3798	152	11	expenditure	expenditure	NOUN
fsr-3798	152	12	reduces	reduce	VERB
fsr-3798	152	13	alpha	alpha	NOUN
fsr-3798	152	14	.	.	PUNCT
fsr-3798	153	1	each	each	DET
fsr-3798	153	2	basis	basis	NOUN
fsr-3798	153	3	point	point	NOUN
fsr-3798	153	4	increase	increase	NOUN
fsr-3798	153	5	in	in	ADP
fsr-3798	153	6	expenses	expense	NOUN
fsr-3798	153	7	leads	lead	VERB
fsr-3798	153	8	to	to	ADP
fsr-3798	153	9	about	about	ADP
fsr-3798	153	10	a	a	DET
fsr-3798	153	11	basis	basis	NOUN
fsr-3798	153	12	point	point	NOUN
fsr-3798	153	13	(	(	PUNCT
fsr-3798	153	14	1.178	1.178	NUM
fsr-3798	153	15	)	)	PUNCT
fsr-3798	153	16	decrease	decrease	NOUN
fsr-3798	153	17	in	in	ADP
fsr-3798	153	18	alpha	alpha	NOUN
fsr-3798	153	19	.	.	PUNCT
fsr-3798	154	1	turnover	turnover	NOUN
fsr-3798	154	2	is	be	AUX
fsr-3798	154	3	positively	positively	ADV
fsr-3798	154	4	,	,	PUNCT
fsr-3798	154	5	but	but	CCONJ
fsr-3798	154	6	insignificantly	insignificantly	ADV
fsr-3798	154	7	,	,	PUNCT
fsr-3798	154	8	related	relate	VERB
fsr-3798	154	9	to	to	ADP
fsr-3798	154	10	alpha	alpha	NOUN
fsr-3798	154	11	.	.	PUNCT
fsr-3798	155	1	apparently	apparently	ADV
fsr-3798	155	2	,	,	PUNCT
fsr-3798	155	3	the	the	DET
fsr-3798	155	4	positive	positive	ADJ
fsr-3798	155	5	information	information	NOUN
fsr-3798	155	6	sig	sig	NOUN
fsr-3798	155	7	naling	naling	NOUN
fsr-3798	155	8	effect	effect	NOUN
fsr-3798	155	9	suggested	suggest	VERB
fsr-3798	155	10	by	by	ADP
fsr-3798	155	11	trueman	trueman	NOUN
fsr-3798	155	12	(	(	PUNCT
fsr-3798	155	13	1988	1988	NUM
fsr-3798	155	14	)	)	PUNCT
fsr-3798	155	15	is	be	AUX
fsr-3798	155	16	not	not	PART
fsr-3798	155	17	strong	strong	ADJ
fsr-3798	155	18	enough	enough	ADV
fsr-3798	155	19	to	to	PART
fsr-3798	155	20	fully	fully	ADV
fsr-3798	155	21	overwhelm	overwhelm	VERB
fsr-3798	155	22	the	the	DET
fsr-3798	155	23	negative	negative	ADJ
fsr-3798	155	24	effect	effect	NOUN
fsr-3798	155	25	of	of	ADP
fsr-3798	155	26	trading	trading	NOUN
fsr-3798	155	27	costs	cost	NOUN
fsr-3798	155	28	.	.	PUNCT
fsr-3798	156	1	the	the	DET
fsr-3798	156	2	standard	standard	ADJ
fsr-3798	156	3	human	human	ADJ
fsr-3798	156	4	capital	capital	NOUN
fsr-3798	156	5	investment	investment	NOUN
fsr-3798	156	6	model	model	NOUN
fsr-3798	156	7	,	,	PUNCT
fsr-3798	156	8	established	establish	VERB
fsr-3798	156	9	by	by	ADP
fsr-3798	156	10	becker	becker	PROPN
fsr-3798	156	11	(	(	PUNCT
fsr-3798	156	12	1964	1964	NUM
fsr-3798	156	13	)	)	PUNCT
fsr-3798	156	14	,	,	PUNCT
fsr-3798	156	15	mincer	mincer	NOUN
fsr-3798	156	16	(	(	PUNCT
fsr-3798	156	17	1973	1973	NUM
fsr-3798	156	18	)	)	PUNCT
fsr-3798	156	19	,	,	PUNCT
fsr-3798	156	20	and	and	CCONJ
fsr-3798	156	21	topel(1991	topel(1991	NUM
fsr-3798	156	22	)	)	PUNCT
fsr-3798	156	23	,	,	PUNCT
fsr-3798	156	24	implies	imply	VERB
fsr-3798	156	25	a	a	DET
fsr-3798	156	26	positive	positive	ADJ
fsr-3798	156	27	relationship	relationship	NOUN
fsr-3798	156	28	between	between	ADP
fsr-3798	156	29	measures	measure	NOUN
fsr-3798	156	30	of	of	ADP
fsr-3798	156	31	human	human	ADJ
fsr-3798	156	32	cap	cap	NOUN
fsr-3798	156	33	ital	ital	PROPN
fsr-3798	156	34	such	such	ADJ
fsr-3798	156	35	as	as	ADP
fsr-3798	156	36	tenure	tenure	NOUN
fsr-3798	156	37	and	and	CCONJ
fsr-3798	156	38	education	education	NOUN
fsr-3798	156	39	,	,	PUNCT
fsr-3798	156	40	and	and	CCONJ
fsr-3798	156	41	alpha	alpha	NOUN
fsr-3798	156	42	.	.	PUNCT
fsr-3798	157	1	like	like	ADP
fsr-3798	157	2	years	year	NOUN
fsr-3798	157	3	of	of	ADP
fsr-3798	157	4	education	education	NOUN
fsr-3798	157	5	,	,	PUNCT
fsr-3798	157	6	mba	mba	NOUN
fsr-3798	157	7	should	should	AUX
fsr-3798	157	8	be	be	AUX
fsr-3798	157	9	pos	pos	NOUN
fsr-3798	157	10	itively	itively	ADV
fsr-3798	157	11	related	relate	VERB
fsr-3798	157	12	to	to	ADP
fsr-3798	157	13	alpha	alpha	NOUN
fsr-3798	157	14	because	because	SCONJ
fsr-3798	157	15	specialized	specialized	ADJ
fsr-3798	157	16	business	business	NOUN
fsr-3798	157	17	education	education	NOUN
fsr-3798	157	18	should	should	AUX
fsr-3798	157	19	lead	lead	VERB
fsr-3798	157	20	to	to	ADP
fsr-3798	157	21	better	well	ADJ
fsr-3798	157	22	performance	performance	NOUN
fsr-3798	157	23	.	.	PUNCT
fsr-3798	158	1	finally	finally	ADV
fsr-3798	158	2	,	,	PUNCT
fsr-3798	158	3	if	if	SCONJ
fsr-3798	158	4	age	age	NOUN
fsr-3798	158	5	largely	largely	ADV
fsr-3798	158	6	measures	measure	VERB
fsr-3798	158	7	stamina	stamina	NOUN
fsr-3798	158	8	,	,	PUNCT
fsr-3798	158	9	then	then	ADV
fsr-3798	158	10	manager	manager	NOUN
fsr-3798	158	11	age	age	NOUN
fsr-3798	158	12	and	and	CCONJ
fsr-3798	158	13	alpha	alpha	NOUN
fsr-3798	158	14	should	should	AUX
fsr-3798	158	15	be	be	AUX
fsr-3798	158	16	negatively	negatively	ADV
fsr-3798	158	17	related	relate	VERB
fsr-3798	158	18	.	.	PUNCT
fsr-3798	159	1	results	result	NOUN
fsr-3798	159	2	show	show	VERB
fsr-3798	159	3	that	that	SCONJ
fsr-3798	159	4	education	education	NOUN
fsr-3798	159	5	does	do	AUX
fsr-3798	159	6	not	not	PART
fsr-3798	159	7	have	have	VERB
fsr-3798	159	8	the	the	DET
fsr-3798	159	9	positive	positive	ADJ
fsr-3798	159	10	direct	direct	ADJ
fsr-3798	159	11	effect	effect	NOUN
fsr-3798	159	12	expected	expect	VERB
fsr-3798	159	13	although	although	SCONJ
fsr-3798	159	14	the	the	DET
fsr-3798	159	15	reduced	reduce	VERB
fsr-3798	159	16	form	form	NOUN
fsr-3798	159	17	coefficient	coefficient	NOUN
fsr-3798	159	18	is	be	AUX
fsr-3798	159	19	positive	positive	ADJ
fsr-3798	159	20	.	.	PUNCT
fsr-3798	160	1	the	the	DET
fsr-3798	160	2	positive	positive	ADJ
fsr-3798	160	3	mba	mba	NOUN
fsr-3798	160	4	coefficient	coefficient	NOUN
fsr-3798	160	5	is	be	AUX
fsr-3798	160	6	significant	significant	ADJ
fsr-3798	160	7	at	at	ADP
fsr-3798	160	8	the	the	DET
fsr-3798	160	9	10	10	NUM
fsr-3798	160	10	percent	percent	NOUN
fsr-3798	160	11	level	level	NOUN
fsr-3798	160	12	;	;	PUNCT
fsr-3798	160	13	the	the	DET
fsr-3798	160	14	mba	mba	NOUN
fsr-3798	160	15	increases	increase	NOUN
fsr-3798	160	16	alpha	alpha	NOUN
fsr-3798	160	17	by	by	ADP
fsr-3798	160	18	nearly	nearly	ADV
fsr-3798	160	19	one	one	NUM
fsr-3798	160	20	percentage	percentage	NOUN
fsr-3798	160	21	point	point	NOUN
fsr-3798	160	22	annually	annually	ADV
fsr-3798	160	23	.	.	PUNCT
fsr-3798	161	1	when	when	SCONJ
fsr-3798	161	2	indirect	indirect	ADJ
fsr-3798	161	3	effects	effect	NOUN
fsr-3798	161	4	are	be	AUX
fsr-3798	161	5	considered	consider	VERB
fsr-3798	161	6	,	,	PUNCT
fsr-3798	161	7	the	the	DET
fsr-3798	161	8	reduced	reduce	VERB
fsr-3798	161	9	form	form	NOUN
fsr-3798	161	10	coefficient	coefficient	NOUN
fsr-3798	161	11	is	be	AUX
fsr-3798	161	12	smaller	small	ADJ
fsr-3798	161	13	and	and	CCONJ
fsr-3798	161	14	statistically	statistically	ADV
fsr-3798	161	15	insignificant	insignificant	ADJ
fsr-3798	161	16	,	,	PUNCT
fsr-3798	161	17	indicating	indicate	VERB
fsr-3798	161	18	that	that	SCONJ
fsr-3798	161	19	the	the	DET
fsr-3798	161	20	mba	mba	NOUN
fsr-3798	161	21	effect	effect	NOUN
fsr-3798	161	22	is	be	AUX
fsr-3798	161	23	somewhat	somewhat	ADV
fsr-3798	161	24	weak	weak	ADJ
fsr-3798	161	25	.	.	PUNCT
fsr-3798	162	1	manager	manager	NOUN
fsr-3798	162	2	age	age	NOUN
fsr-3798	162	3	is	be	AUX
fsr-3798	162	4	negatively	negatively	ADV
fsr-3798	162	5	related	relate	VERB
fsr-3798	162	6	to	to	ADP
fsr-3798	162	7	alpha	alpha	NOUN
fsr-3798	162	8	,	,	PUNCT
fsr-3798	162	9	supporting	support	VERB
fsr-3798	162	10	industry	industry	NOUN
fsr-3798	162	11	claims	claim	VERB
fsr-3798	162	12	that	that	SCONJ
fsr-3798	162	13	younger	young	ADJ
fsr-3798	162	14	managers	manager	NOUN
fsr-3798	162	15	cope	cope	VERB
fsr-3798	162	16	more	more	ADV
fsr-3798	162	17	easily	easily	ADV
fsr-3798	162	18	with	with	ADP
fsr-3798	162	19	the	the	DET
fsr-3798	162	20	job	job	NOUN
fsr-3798	162	21	’s	’s	PART
fsr-3798	162	22	demands	demand	NOUN
fsr-3798	162	23	.	.	PUNCT
fsr-3798	163	1	tenure	tenure	NOUN
fsr-3798	163	2	and	and	CCONJ
fsr-3798	163	3	alpha	alpha	NOUN
fsr-3798	163	4	are	be	AUX
fsr-3798	163	5	strongly	strongly	ADV
fsr-3798	163	6	posi	posi	X
fsr-3798	163	7	tively	tively	ADV
fsr-3798	163	8	related	relate	VERB
fsr-3798	163	9	,	,	PUNCT
fsr-3798	163	10	indicating	indicate	VERB
fsr-3798	163	11	that	that	SCONJ
fsr-3798	163	12	experience	experience	NOUN
fsr-3798	163	13	pays	pay	VERB
fsr-3798	163	14	and	and	CCONJ
fsr-3798	163	15	perhaps	perhaps	ADV
fsr-3798	163	16	that	that	DET
fsr-3798	163	17	poor	poor	ADJ
fsr-3798	163	18	performers	performer	NOUN
fsr-3798	163	19	are	be	AUX
fsr-3798	163	20	quickly	quickly	ADV
fsr-3798	163	21	eliminated	eliminate	VERB
fsr-3798	163	22	.	.	PUNCT
fsr-3798	164	1	tenure	tenure	NOUN
fsr-3798	164	2	is	be	AUX
fsr-3798	164	3	the	the	DET
fsr-3798	164	4	strongest	strong	ADJ
fsr-3798	164	5	human	human	ADJ
fsr-3798	164	6	capital	capital	NOUN
fsr-3798	164	7	measure	measure	NOUN
fsr-3798	164	8	;	;	PUNCT
fsr-3798	164	9	an	an	DET
fsr-3798	164	10	additional	additional	ADJ
fsr-3798	164	11	year	year	NOUN
fsr-3798	164	12	of	of	ADP
fsr-3798	164	13	tenure	tenure	NOUN
fsr-3798	164	14	leads	lead	VERB
fsr-3798	164	15	to	to	ADP
fsr-3798	164	16	a	a	DET
fsr-3798	164	17	direct	direct	ADJ
fsr-3798	164	18	0.165	0.165	NUM
fsr-3798	164	19	increase	increase	NOUN
fsr-3798	164	20	in	in	ADP
fsr-3798	164	21	annual	annual	ADJ
fsr-3798	164	22	alpha	alpha	NOUN
fsr-3798	164	23	.	.	PUNCT
fsr-3798	165	1	the	the	DET
fsr-3798	165	2	full	full	ADJ
fsr-3798	165	3	impact	impact	NOUN
fsr-3798	165	4	(	(	PUNCT
fsr-3798	165	5	measured	measure	VERB
fsr-3798	165	6	by	by	ADP
fsr-3798	165	7	the	the	DET
fsr-3798	165	8	structural	structural	ADJ
fsr-3798	165	9	coefficient	coefficient	NOUN
fsr-3798	165	10	)	)	PUNCT
fsr-3798	165	11	is	be	AUX
fsr-3798	165	12	0.185	0.185	NUM
fsr-3798	165	13	,	,	PUNCT
fsr-3798	165	14	which	which	PRON
fsr-3798	165	15	means	mean	VERB
fsr-3798	165	16	that	that	SCONJ
fsr-3798	165	17	tenured	tenure	VERB
fsr-3798	165	18	managers	manager	NOUN
fsr-3798	165	19	also	also	ADV
fsr-3798	165	20	keep	keep	VERB
fsr-3798	165	21	costs	cost	NOUN
fsr-3798	165	22	or	or	CCONJ
fsr-3798	165	23	noise	noise	VERB
fsr-3798	165	24	trading	trading	NOUN
fsr-3798	165	25	low	low	ADJ
fsr-3798	165	26	,	,	PUNCT
fsr-3798	165	27	indirectly	indirectly	ADV
fsr-3798	165	28	increasing	increase	VERB
fsr-3798	165	29	alpha	alpha	NOUN
fsr-3798	165	30	.	.	PUNCT
fsr-3798	166	1	team	team	NOUN
fsr-3798	166	2	size	size	NOUN
fsr-3798	166	3	has	have	VERB
fsr-3798	166	4	an	an	DET
fsr-3798	166	5	indeterminate	indeterminate	ADJ
fsr-3798	166	6	effect	effect	NOUN
fsr-3798	166	7	on	on	ADP
fsr-3798	166	8	alpha	alpha	NOUN
fsr-3798	166	9	.	.	PUNCT
fsr-3798	167	1	perhaps	perhaps	ADV
fsr-3798	167	2	funds	fund	NOUN
fsr-3798	167	3	with	with	ADP
fsr-3798	167	4	more	more	ADJ
fsr-3798	167	5	than	than	ADP
fsr-3798	167	6	one	one	NUM
fsr-3798	167	7	manager	manager	NOUN
fsr-3798	167	8	may	may	AUX
fsr-3798	167	9	find	find	VERB
fsr-3798	167	10	two	two	NUM
fsr-3798	167	11	heads	head	NOUN
fsr-3798	167	12	are	be	AUX
fsr-3798	167	13	better	well	ADJ
fsr-3798	167	14	than	than	ADP
fsr-3798	167	15	one	one	NUM
fsr-3798	167	16	.	.	PUNCT
fsr-3798	168	1	alternatively	alternatively	ADV
fsr-3798	168	2	,	,	PUNCT
fsr-3798	168	3	conflicts	conflict	NOUN
fsr-3798	168	4	among	among	ADP
fsr-3798	168	5	managers	manager	NOUN
fsr-3798	168	6	may	may	AUX
fsr-3798	168	7	negatively	negatively	ADV
fsr-3798	168	8	impact	impact	VERB
fsr-3798	168	9	alpha	alpha	NOUN
fsr-3798	168	10	.	.	PUNCT
fsr-3798	169	1	while	while	SCONJ
fsr-3798	169	2	the	the	DET
fsr-3798	169	3	team	team	NOUN
fsr-3798	169	4	structural	structural	ADJ
fsr-3798	169	5	coefficient	coefficient	NOUN
fsr-3798	169	6	is	be	AUX
fsr-3798	169	7	negative	negative	ADJ
fsr-3798	169	8	,	,	PUNCT
fsr-3798	169	9	it	it	PRON
fsr-3798	169	10	is	be	AUX
fsr-3798	169	11	statis	statis	NOUN
fsr-3798	169	12	tically	tically	ADV
fsr-3798	169	13	insignificant	insignificant	ADJ
fsr-3798	169	14	.	.	PUNCT
fsr-3798	170	1	do	do	VERB
fsr-3798	170	2	older	old	ADJ
fsr-3798	170	3	funds	fund	NOUN
fsr-3798	170	4	produce	produce	VERB
fsr-3798	170	5	better	well	ADJ
fsr-3798	170	6	alphas	alpha	NOUN
fsr-3798	170	7	?	?	PUNCT
fsr-3798	171	1	more	more	ADJ
fsr-3798	171	2	established	establish	VERB
fsr-3798	171	3	funds	fund	NOUN
fsr-3798	171	4	should	should	AUX
fsr-3798	171	5	be	be	AUX
fsr-3798	171	6	more	more	ADV
fsr-3798	171	7	experi	experi	PROPN
fsr-3798	171	8	enced	ence	VERB
fsr-3798	171	9	at	at	ADP
fsr-3798	171	10	selecting	select	VERB
fsr-3798	171	11	better	well	ADJ
fsr-3798	171	12	managers	manager	NOUN
fsr-3798	171	13	or	or	CCONJ
fsr-3798	171	14	keeping	keep	VERB
fsr-3798	171	15	costs	cost	NOUN
fsr-3798	171	16	low	low	ADJ
fsr-3798	171	17	.	.	PUNCT
fsr-3798	172	1	table	table	NOUN
fsr-3798	172	2	2	2	NUM
fsr-3798	172	3	does	do	AUX
fsr-3798	172	4	not	not	PART
fsr-3798	172	5	support	support	VERB
fsr-3798	172	6	this	this	DET
fsr-3798	172	7	con	con	NOUN
fsr-3798	172	8	tention	tention	NOUN
fsr-3798	172	9	.	.	PUNCT
fsr-3798	173	1	in	in	ADP
fsr-3798	173	2	fact	fact	NOUN
fsr-3798	173	3	,	,	PUNCT
fsr-3798	173	4	the	the	DET
fsr-3798	173	5	fund	fund	NOUN
fsr-3798	173	6	age	age	NOUN
fsr-3798	173	7	coefficient	coefficient	NOUN
fsr-3798	173	8	is	be	AUX
fsr-3798	173	9	negative	negative	ADJ
fsr-3798	173	10	,	,	PUNCT
fsr-3798	173	11	although	although	SCONJ
fsr-3798	173	12	statistically	statistically	ADV
fsr-3798	173	13	insignificant	insignificant	ADJ
fsr-3798	173	14	.	.	PUNCT
fsr-3798	174	1	many	many	ADJ
fsr-3798	174	2	believe	believe	VERB
fsr-3798	174	3	that	that	SCONJ
fsr-3798	174	4	as	as	SCONJ
fsr-3798	174	5	funds	fund	NOUN
fsr-3798	174	6	grow	grow	VERB
fsr-3798	174	7	assets	asset	NOUN
fsr-3798	174	8	,	,	PUNCT
fsr-3798	174	9	performance	performance	NOUN
fsr-3798	174	10	suffers	suffer	VERB
fsr-3798	174	11	because	because	SCONJ
fsr-3798	174	12	larger	large	ADJ
fsr-3798	174	13	assets	asset	NOUN
fsr-3798	174	14	reduce	reduce	VERB
fsr-3798	174	15	managers	manager	NOUN
fsr-3798	174	16	’	’	PART
fsr-3798	174	17	trading	trading	NOUN
fsr-3798	174	18	flexibility	flexibility	NOUN
fsr-3798	174	19	.	.	PUNCT
fsr-3798	175	1	nevertheless	nevertheless	ADV
fsr-3798	175	2	,	,	PUNCT
fsr-3798	175	3	grinblatt	grinblatt	NOUN
fsr-3798	175	4	and	and	CCONJ
fsr-3798	175	5	titman	titman	NOUN
fsr-3798	175	6	(	(	PUNCT
fsr-3798	175	7	1989	1989	NUM
fsr-3798	175	8	)	)	PUNCT
fsr-3798	175	9	after	after	ADP
fsr-3798	175	10	con	con	NOUN
fsr-3798	175	11	trolling	trolling	NOUN
fsr-3798	175	12	for	for	ADP
fsr-3798	175	13	expense	expense	NOUN
fsr-3798	175	14	and	and	CCONJ
fsr-3798	175	15	fee	fee	NOUN
fsr-3798	175	16	differences	difference	NOUN
fsr-3798	175	17	,	,	PUNCT
fsr-3798	175	18	find	find	VERB
fsr-3798	175	19	that	that	SCONJ
fsr-3798	175	20	assets	asset	NOUN
fsr-3798	175	21	and	and	CCONJ
fsr-3798	175	22	performance	performance	NOUN
fsr-3798	175	23	are	be	AUX
fsr-3798	175	24	unrelated	unrelated	ADJ
fsr-3798	175	25	.	.	PUNCT
fsr-3798	176	1	similarly	similarly	ADV
fsr-3798	176	2	,	,	PUNCT
fsr-3798	176	3	table	table	NOUN
fsr-3798	176	4	2	2	NUM
fsr-3798	176	5	shows	show	VERB
fsr-3798	176	6	no	no	DET
fsr-3798	176	7	significant	significant	ADJ
fsr-3798	176	8	relationship	relationship	NOUN
fsr-3798	176	9	between	between	ADP
fsr-3798	176	10	assets	asset	NOUN
fsr-3798	176	11	and	and	CCONJ
fsr-3798	176	12	alpha	alpha	NOUN
fsr-3798	176	13	.	.	PUNCT
fsr-3798	177	1	perhaps	perhaps	ADV
fsr-3798	177	2	because	because	SCONJ
fsr-3798	177	3	some	some	DET
fsr-3798	177	4	managers	manager	NOUN
fsr-3798	177	5	close	close	VERB
fsr-3798	177	6	funds	fund	NOUN
fsr-3798	177	7	to	to	ADP
fsr-3798	177	8	new	new	ADJ
fsr-3798	177	9	investors	investor	NOUN
fsr-3798	177	10	when	when	SCONJ
fsr-3798	177	11	assets	asset	NOUN
fsr-3798	177	12	increase	increase	VERB
fsr-3798	177	13	to	to	ADP
fsr-3798	177	14	a	a	DET
fsr-3798	177	15	target	target	NOUN
fsr-3798	177	16	(	(	PUNCT
fsr-3798	177	17	see	see	VERB
fsr-3798	177	18	mcgough	mcgough	NOUN
fsr-3798	177	19	,	,	PUNCT
fsr-3798	177	20	1993b	1993b	NUM
fsr-3798	177	21	)	)	PUNCT
fsr-3798	177	22	,	,	PUNCT
fsr-3798	177	23	few	few	ADJ
fsr-3798	177	24	funds	fund	NOUN
fsr-3798	177	25	reach	reach	VERB
fsr-3798	177	26	the	the	DET
fsr-3798	177	27	point	point	NOUN
fsr-3798	177	28	at	at	ADP
fsr-3798	177	29	which	which	PRON
fsr-3798	177	30	asset	asset	NOUN
fsr-3798	177	31	growth	growth	NOUN
fsr-3798	177	32	reduces	reduce	VERB
fsr-3798	177	33	performance	performance	NOUN
fsr-3798	177	34	.	.	PUNCT
fsr-3798	178	1	investors	investor	NOUN
fsr-3798	178	2	are	be	AUX
fsr-3798	178	3	often	often	ADV
fsr-3798	178	4	counseled	counsel	VERB
fsr-3798	178	5	that	that	SCONJ
fsr-3798	178	6	they	they	PRON
fsr-3798	178	7	will	will	AUX
fsr-3798	178	8	get	get	VERB
fsr-3798	178	9	better	well	ADJ
fsr-3798	178	10	performance	performance	NOUN
fsr-3798	178	11	from	from	ADP
fsr-3798	178	12	a	a	DET
fsr-3798	178	13	fund	fund	NOUN
fsr-3798	178	14	with	with	ADP
fsr-3798	178	15	low	low	ADJ
fsr-3798	178	16	fees	fee	NOUN
fsr-3798	178	17	.	.	PUNCT
fsr-3798	179	1	the	the	DET
fsr-3798	179	2	most	most	ADV
fsr-3798	179	3	important	important	ADJ
fsr-3798	179	4	results	result	NOUN
fsr-3798	179	5	from	from	ADP
fsr-3798	179	6	the	the	DET
fsr-3798	179	7	alpha	alpha	NOUN
fsr-3798	179	8	equation	equation	NOUN
fsr-3798	179	9	are	be	AUX
fsr-3798	179	10	that	that	SCONJ
fsr-3798	179	11	this	this	DET
fsr-3798	179	12	statement	statement	NOUN
fsr-3798	179	13	is	be	AUX
fsr-3798	179	14	true	true	ADJ
fsr-3798	179	15	for	for	ADP
fsr-3798	179	16	operating	operating	NOUN
fsr-3798	179	17	expenses	expense	NOUN
fsr-3798	179	18	but	but	CCONJ
fsr-3798	179	19	not	not	PART
fsr-3798	179	20	management	management	NOUN
fsr-3798	179	21	fees	fee	NOUN
fsr-3798	179	22	.	.	PUNCT
fsr-3798	180	1	indeed	indeed	ADV
fsr-3798	180	2	,	,	PUNCT
fsr-3798	180	3	management	management	NOUN
fsr-3798	180	4	fees	fee	NOUN
fsr-3798	180	5	and	and	CCONJ
fsr-3798	180	6	perfor	perfor	PROPN
fsr-3798	180	7	mance	mance	NOUN
fsr-3798	180	8	are	be	AUX
fsr-3798	180	9	strongly	strongly	ADV
fsr-3798	180	10	positively	positively	ADV
fsr-3798	180	11	related	relate	VERB
fsr-3798	180	12	.	.	PUNCT
fsr-3798	181	1	in	in	ADP
fsr-3798	181	2	addition	addition	NOUN
fsr-3798	181	3	,	,	PUNCT
fsr-3798	181	4	results	result	NOUN
fsr-3798	181	5	show	show	VERB
fsr-3798	181	6	that	that	SCONJ
fsr-3798	181	7	investors	investor	NOUN
fsr-3798	181	8	should	should	AUX
fsr-3798	181	9	get	get	VERB
fsr-3798	181	10	mutual	mutual	ADJ
fsr-3798	181	11	fund	fund	NOUN
fsr-3798	181	12	managers	manager	NOUN
fsr-3798	181	13	141	141	NUM
fsr-3798	181	14	better	well	ADJ
fsr-3798	181	15	performance	performance	NOUN
fsr-3798	181	16	from	from	ADP
fsr-3798	181	17	well	well	ADV
fsr-3798	181	18	-	-	PUNCT
fsr-3798	181	19	diversified	diversify	VERB
fsr-3798	181	20	funds	fund	NOUN
fsr-3798	181	21	managed	manage	VERB
fsr-3798	181	22	by	by	ADP
fsr-3798	181	23	younger	young	ADJ
fsr-3798	181	24	,	,	PUNCT
fsr-3798	181	25	longer	long	ADV
fsr-3798	181	26	-	-	PUNCT
fsr-3798	181	27	tenured	tenure	VERB
fsr-3798	181	28	man	man	NOUN
fsr-3798	181	29	agers	ager	NOUN
fsr-3798	181	30	with	with	ADP
fsr-3798	181	31	mba	mba	NOUN
fsr-3798	181	32	degrees	degree	NOUN
fsr-3798	181	33	.	.	PUNCT
fsr-3798	182	1	b.	b.	PROPN
fsr-3798	183	1	the	the	DET
fsr-3798	183	2	risk	risk	NOUN
fsr-3798	183	3	equations	equation	VERB
fsr-3798	183	4	the	the	DET
fsr-3798	183	5	beta	beta	NOUN
fsr-3798	183	6	and	and	CCONJ
fsr-3798	183	7	residual	residual	ADJ
fsr-3798	183	8	standard	standard	ADJ
fsr-3798	183	9	deviation	deviation	NOUN
fsr-3798	183	10	equations	equation	NOUN
fsr-3798	183	11	are	be	AUX
fsr-3798	183	12	:	:	PUNCT
fsr-3798	183	13	beta	beta	NOUN
fsr-3798	183	14	=	=	PUNCT
fsr-3798	183	15	(	(	PUNCT
fsr-3798	183	16	residual	residual	ADJ
fsr-3798	183	17	,	,	PUNCT
fsr-3798	183	18	turnover	turnover	NOUN
fsr-3798	183	19	,	,	PUNCT
fsr-3798	183	20	manager	manager	NOUN
fsr-3798	183	21	age	age	NOUN
fsr-3798	183	22	,	,	PUNCT
fsr-3798	183	23	tenure	tenure	NOUN
fsr-3798	183	24	,	,	PUNCT
fsr-3798	183	25	mba	mba	NOUN
fsr-3798	183	26	,	,	PUNCT
fsr-3798	183	27	fund	fund	NOUN
fsr-3798	183	28	age	age	NOUN
fsr-3798	183	29	,	,	PUNCT
fsr-3798	183	30	objectives	objective	NOUN
fsr-3798	183	31	)	)	PUNCT
fsr-3798	183	32	(	(	PUNCT
fsr-3798	183	33	3	3	X
fsr-3798	183	34	)	)	PUNCT
fsr-3798	183	35	residual	residual	ADJ
fsr-3798	183	36	=	=	SYM
fsr-3798	183	37	(	(	PUNCT
fsr-3798	183	38	beta	beta	NOUN
fsr-3798	183	39	,	,	PUNCT
fsr-3798	183	40	turnover	turnover	NOUN
fsr-3798	183	41	,	,	PUNCT
fsr-3798	183	42	manager	manager	NOUN
fsr-3798	183	43	age	age	NOUN
fsr-3798	183	44	,	,	PUNCT
fsr-3798	183	45	tenure	tenure	NOUN
fsr-3798	183	46	,	,	PUNCT
fsr-3798	183	47	mba	mba	NOUN
fsr-3798	183	48	,	,	PUNCT
fsr-3798	183	49	team	team	NOUN
fsr-3798	183	50	,	,	PUNCT
fsr-3798	183	51	fund	fund	NOUN
fsr-3798	183	52	age	age	NOUN
fsr-3798	183	53	,	,	PUNCT
fsr-3798	183	54	assets	asset	NOUN
fsr-3798	183	55	,	,	PUNCT
fsr-3798	183	56	objectives	objective	NOUN
fsr-3798	183	57	)	)	PUNCT
fsr-3798	183	58	(	(	PUNCT
fsr-3798	183	59	4	4	X
fsr-3798	183	60	)	)	PUNCT
fsr-3798	183	61	many	many	ADJ
fsr-3798	183	62	of	of	ADP
fsr-3798	183	63	the	the	DET
fsr-3798	183	64	same	same	ADJ
fsr-3798	183	65	independent	independent	ADJ
fsr-3798	183	66	variables	variable	NOUN
fsr-3798	183	67	are	be	AUX
fsr-3798	183	68	included	include	VERB
fsr-3798	183	69	in	in	ADP
fsr-3798	183	70	these	these	DET
fsr-3798	183	71	two	two	NUM
fsr-3798	183	72	equations	equation	NOUN
fsr-3798	183	73	and	and	CCONJ
fsr-3798	183	74	are	be	AUX
fsr-3798	183	75	chosen	choose	VERB
fsr-3798	183	76	for	for	ADP
fsr-3798	183	77	similar	similar	ADJ
fsr-3798	183	78	reasons	reason	NOUN
fsr-3798	183	79	.	.	PUNCT
fsr-3798	184	1	beta	beta	ADJ
fsr-3798	184	2	and	and	CCONJ
fsr-3798	184	3	residual	residual	ADJ
fsr-3798	184	4	risk	risk	NOUN
fsr-3798	184	5	may	may	AUX
fsr-3798	184	6	be	be	AUX
fsr-3798	184	7	positively	positively	ADV
fsr-3798	184	8	related	relate	VERB
fsr-3798	184	9	to	to	ADP
fsr-3798	184	10	one	one	NUM
fsr-3798	184	11	another	another	DET
fsr-3798	184	12	because	because	SCONJ
fsr-3798	184	13	aggressive	aggressive	ADJ
fsr-3798	184	14	managers	manager	NOUN
fsr-3798	184	15	may	may	AUX
fsr-3798	184	16	try	try	VERB
fsr-3798	184	17	to	to	PART
fsr-3798	184	18	reap	reap	VERB
fsr-3798	184	19	high	high	ADJ
fsr-3798	184	20	returns	return	NOUN
fsr-3798	184	21	both	both	CCONJ
fsr-3798	184	22	by	by	ADP
fsr-3798	184	23	increasing	increase	VERB
fsr-3798	184	24	beta	beta	NOUN
fsr-3798	184	25	and	and	CCONJ
fsr-3798	184	26	by	by	ADP
fsr-3798	184	27	concentrating	concentrate	VERB
fsr-3798	184	28	their	their	PRON
fsr-3798	184	29	investments	investment	NOUN
fsr-3798	184	30	in	in	ADP
fsr-3798	184	31	fewer	few	ADJ
fsr-3798	184	32	,	,	PUNCT
fsr-3798	184	33	well	well	ADV
fsr-3798	184	34	-	-	PUNCT
fsr-3798	184	35	researched	research	VERB
fsr-3798	184	36	stocks	stock	NOUN
fsr-3798	184	37	.	.	PUNCT
fsr-3798	185	1	therefore	therefore	ADV
fsr-3798	185	2	,	,	PUNCT
fsr-3798	185	3	residual	residual	ADJ
fsr-3798	185	4	risk	risk	NOUN
fsr-3798	185	5	appears	appear	VERB
fsr-3798	185	6	in	in	ADP
fsr-3798	185	7	the	the	DET
fsr-3798	185	8	beta	beta	NOUN
fsr-3798	185	9	regression	regression	NOUN
fsr-3798	185	10	and	and	CCONJ
fsr-3798	185	11	beta	beta	NOUN
fsr-3798	185	12	appears	appear	VERB
fsr-3798	185	13	in	in	ADP
fsr-3798	185	14	the	the	DET
fsr-3798	185	15	residual	residual	ADJ
fsr-3798	185	16	risk	risk	NOUN
fsr-3798	185	17	equation	equation	NOUN
fsr-3798	185	18	.	.	PUNCT
fsr-3798	186	1	table	table	NOUN
fsr-3798	186	2	3	3	NUM
fsr-3798	186	3	shows	show	VERB
fsr-3798	186	4	that	that	SCONJ
fsr-3798	186	5	beta	beta	NOUN
fsr-3798	186	6	and	and	CCONJ
fsr-3798	186	7	residual	residual	ADJ
fsr-3798	186	8	return	return	NOUN
fsr-3798	186	9	standard	standard	ADJ
fsr-3798	186	10	deviation	deviation	NOUN
fsr-3798	186	11	are	be	AUX
fsr-3798	186	12	positively	positively	ADV
fsr-3798	186	13	,	,	PUNCT
fsr-3798	186	14	although	although	SCONJ
fsr-3798	186	15	not	not	PART
fsr-3798	186	16	statistically	statistically	ADV
fsr-3798	186	17	sig	sig	NOUN
fsr-3798	186	18	nificantly	nificantly	ADV
fsr-3798	186	19	related	relate	VERB
fsr-3798	186	20	.	.	PUNCT
fsr-3798	187	1	trueman	trueman	NOUN
fsr-3798	187	2	(	(	PUNCT
fsr-3798	187	3	1988	1988	NUM
fsr-3798	187	4	)	)	PUNCT
fsr-3798	187	5	suggests	suggest	VERB
fsr-3798	187	6	risk	risk	NOUN
fsr-3798	187	7	and	and	CCONJ
fsr-3798	187	8	turnover	turnover	NOUN
fsr-3798	187	9	are	be	AUX
fsr-3798	187	10	likely	likely	ADJ
fsr-3798	187	11	to	to	PART
fsr-3798	187	12	be	be	AUX
fsr-3798	187	13	positively	positively	ADV
fsr-3798	187	14	related	relate	VERB
fsr-3798	187	15	because	because	SCONJ
fsr-3798	187	16	high	high	ADJ
fsr-3798	187	17	-	-	PUNCT
fsr-3798	187	18	risk	risk	NOUN
fsr-3798	187	19	stocks	stock	NOUN
fsr-3798	187	20	offer	offer	VERB
fsr-3798	187	21	greater	great	ADJ
fsr-3798	187	22	opportunity	opportunity	NOUN
fsr-3798	187	23	for	for	ADP
fsr-3798	187	24	gain	gain	NOUN
fsr-3798	187	25	(	(	PUNCT
fsr-3798	187	26	i.e.	i.e.	X
fsr-3798	187	27	,	,	PUNCT
fsr-3798	187	28	accurate	accurate	ADJ
fsr-3798	187	29	information	information	NOUN
fsr-3798	187	30	about	about	ADP
fsr-3798	187	31	their	their	PRON
fsr-3798	187	32	prospects	prospect	NOUN
fsr-3798	187	33	is	be	AUX
fsr-3798	187	34	more	more	ADV
fsr-3798	187	35	valuable	valuable	ADJ
fsr-3798	187	36	)	)	PUNCT
fsr-3798	187	37	.	.	PUNCT
fsr-3798	188	1	as	as	SCONJ
fsr-3798	188	2	expected	expect	VERB
fsr-3798	188	3	,	,	PUNCT
fsr-3798	188	4	table	table	NOUN
fsr-3798	188	5	3	3	NUM
fsr-3798	188	6	shows	show	VERB
fsr-3798	188	7	turnover	turnover	NOUN
fsr-3798	188	8	and	and	CCONJ
fsr-3798	188	9	both	both	DET
fsr-3798	188	10	risk	risk	NOUN
fsr-3798	188	11	measures	measure	NOUN
fsr-3798	188	12	are	be	AUX
fsr-3798	188	13	positively	positively	ADV
fsr-3798	188	14	related	relate	VERB
fsr-3798	188	15	,	,	PUNCT
fsr-3798	188	16	but	but	CCONJ
fsr-3798	188	17	the	the	DET
fsr-3798	188	18	turnover	turnover	NOUN
fsr-3798	188	19	-	-	PUNCT
fsr-3798	188	20	residual	residual	ADJ
fsr-3798	188	21	standard	standard	ADJ
fsr-3798	188	22	deviation	deviation	NOUN
fsr-3798	188	23	relationship	relationship	NOUN
fsr-3798	188	24	is	be	AUX
fsr-3798	188	25	statisti	statisti	NOUN
fsr-3798	188	26	cally	cally	ADV
fsr-3798	188	27	insignificant	insignificant	ADJ
fsr-3798	188	28	.	.	PUNCT
fsr-3798	189	1	according	accord	VERB
fsr-3798	189	2	to	to	ADP
fsr-3798	189	3	gibbons	gibbon	NOUN
fsr-3798	189	4	and	and	CCONJ
fsr-3798	189	5	murphy	murphy	PROPN
fsr-3798	189	6	(	(	PUNCT
fsr-3798	189	7	1992	1992	NUM
fsr-3798	189	8	)	)	PUNCT
fsr-3798	189	9	and	and	CCONJ
fsr-3798	189	10	fama	fama	PROPN
fsr-3798	189	11	(	(	PUNCT
fsr-3798	189	12	1980	1980	NUM
fsr-3798	189	13	)	)	PUNCT
fsr-3798	189	14	,	,	PUNCT
fsr-3798	189	15	manager	manager	NOUN
fsr-3798	189	16	age	age	NOUN
fsr-3798	189	17	and	and	CCONJ
fsr-3798	189	18	risk	risk	NOUN
fsr-3798	189	19	should	should	AUX
fsr-3798	189	20	be	be	AUX
fsr-3798	189	21	positively	positively	ADV
fsr-3798	189	22	related	relate	VERB
fsr-3798	189	23	.	.	PUNCT
fsr-3798	190	1	poor	poor	ADJ
fsr-3798	190	2	performance	performance	NOUN
fsr-3798	190	3	hurts	hurt	VERB
fsr-3798	190	4	one	one	NUM
fsr-3798	190	5	’s	’s	PART
fsr-3798	190	6	reputation	reputation	NOUN
fsr-3798	190	7	and	and	CCONJ
fsr-3798	190	8	reduces	reduce	VERB
fsr-3798	190	9	future	future	ADJ
fsr-3798	190	10	job	job	NOUN
fsr-3798	190	11	prospects	prospect	NOUN
fsr-3798	190	12	and	and	CCONJ
fsr-3798	190	13	fees	fee	NOUN
fsr-3798	190	14	.	.	PUNCT
fsr-3798	191	1	younger	young	ADJ
fsr-3798	191	2	managers	manager	NOUN
fsr-3798	191	3	with	with	ADP
fsr-3798	191	4	more	more	ADJ
fsr-3798	191	5	time	time	NOUN
fsr-3798	191	6	left	leave	VERB
fsr-3798	191	7	in	in	ADP
fsr-3798	191	8	the	the	DET
fsr-3798	191	9	labor	labor	NOUN
fsr-3798	191	10	market	market	NOUN
fsr-3798	191	11	will	will	AUX
fsr-3798	191	12	want	want	VERB
fsr-3798	191	13	to	to	PART
fsr-3798	191	14	avoid	avoid	VERB
fsr-3798	191	15	large	large	ADJ
fsr-3798	191	16	negative	negative	ADJ
fsr-3798	191	17	outcomes	outcome	NOUN
fsr-3798	191	18	more	more	ADJ
fsr-3798	191	19	than	than	ADP
fsr-3798	191	20	managers	manager	NOUN
fsr-3798	191	21	approaching	approach	VERB
fsr-3798	191	22	retirement	retirement	NOUN
fsr-3798	191	23	.	.	PUNCT
fsr-3798	192	1	results	result	NOUN
fsr-3798	192	2	show	show	VERB
fsr-3798	192	3	that	that	SCONJ
fsr-3798	192	4	manager	manager	NOUN
fsr-3798	192	5	age	age	NOUN
fsr-3798	192	6	is	be	AUX
fsr-3798	192	7	positively	positively	ADV
fsr-3798	192	8	but	but	CCONJ
fsr-3798	192	9	insignificantly	insignificantly	ADV
fsr-3798	192	10	related	relate	VERB
fsr-3798	192	11	to	to	ADP
fsr-3798	192	12	risk	risk	NOUN
fsr-3798	192	13	except	except	SCONJ
fsr-3798	192	14	for	for	ADP
fsr-3798	192	15	the	the	DET
fsr-3798	192	16	beta	beta	NOUN
fsr-3798	192	17	reduced	reduce	VERB
fsr-3798	192	18	form	form	NOUN
fsr-3798	192	19	coefficient	coefficient	NOUN
fsr-3798	192	20	which	which	PRON
fsr-3798	192	21	is	be	AUX
fsr-3798	192	22	negative	negative	ADJ
fsr-3798	192	23	and	and	CCONJ
fsr-3798	192	24	insignificant	insignificant	ADJ
fsr-3798	192	25	.	.	PUNCT
fsr-3798	193	1	tenure	tenure	NOUN
fsr-3798	193	2	should	should	AUX
fsr-3798	193	3	be	be	AUX
fsr-3798	193	4	negatively	negatively	ADV
fsr-3798	193	5	related	relate	VERB
fsr-3798	193	6	to	to	ADP
fsr-3798	193	7	both	both	DET
fsr-3798	193	8	risk	risk	NOUN
fsr-3798	193	9	measures	measure	NOUN
fsr-3798	193	10	if	if	SCONJ
fsr-3798	193	11	managers	manager	NOUN
fsr-3798	193	12	protect	protect	VERB
fsr-3798	193	13	against	against	ADP
fsr-3798	193	14	losing	lose	VERB
fsr-3798	193	15	a	a	DET
fsr-3798	193	16	stable	stable	ADJ
fsr-3798	193	17	position	position	NOUN
fsr-3798	193	18	by	by	ADP
fsr-3798	193	19	reducing	reduce	VERB
fsr-3798	193	20	risk	risk	NOUN
fsr-3798	193	21	.	.	PUNCT
fsr-3798	194	1	amihud	amihud	PROPN
fsr-3798	194	2	and	and	CCONJ
fsr-3798	194	3	lev	lev	NOUN
fsr-3798	194	4	(	(	PUNCT
fsr-3798	194	5	198	198	NUM
fsr-3798	194	6	1	1	NUM
fsr-3798	194	7	)	)	PUNCT
fsr-3798	194	8	use	use	VERB
fsr-3798	194	9	such	such	ADJ
fsr-3798	194	10	agency	agency	NOUN
fsr-3798	194	11	argu	argu	NOUN
fsr-3798	194	12	ments	ment	NOUN
fsr-3798	194	13	to	to	PART
fsr-3798	194	14	explain	explain	VERB
fsr-3798	194	15	conglomerate	conglomerate	NOUN
fsr-3798	194	16	mergers	merger	NOUN
fsr-3798	194	17	and	and	CCONJ
fsr-3798	194	18	amihud	amihud	PROPN
fsr-3798	194	19	,	,	PUNCT
fsr-3798	194	20	kamin	kamin	PROPN
fsr-3798	194	21	,	,	PUNCT
fsr-3798	194	22	and	and	CCONJ
fsr-3798	194	23	ronen	ronen	PROPN
fsr-3798	194	24	(	(	PUNCT
fsr-3798	194	25	1983	1983	NUM
fsr-3798	194	26	)	)	PUNCT
fsr-3798	194	27	show	show	VERB
fsr-3798	194	28	that	that	SCONJ
fsr-3798	194	29	manager	manager	NOUN
fsr-3798	194	30	-	-	PUNCT
fsr-3798	194	31	controlled	control	VERB
fsr-3798	194	32	(	(	PUNCT
fsr-3798	194	33	as	as	SCONJ
fsr-3798	194	34	opposed	oppose	VERB
fsr-3798	194	35	to	to	ADP
fsr-3798	194	36	owner	owner	NOUN
fsr-3798	194	37	-	-	PUNCT
fsr-3798	194	38	controlled	control	VERB
fsr-3798	194	39	)	)	PUNCT
fsr-3798	194	40	firms	firm	NOUN
fsr-3798	194	41	choose	choose	VERB
fsr-3798	194	42	investment	investment	NOUN
fsr-3798	194	43	projects	project	NOUN
fsr-3798	194	44	with	with	ADP
fsr-3798	194	45	less	less	ADV
fsr-3798	194	46	systematic	systematic	ADJ
fsr-3798	194	47	and	and	CCONJ
fsr-3798	194	48	unsystematic	unsystematic	ADJ
fsr-3798	194	49	risk	risk	NOUN
fsr-3798	194	50	.	.	PUNCT
fsr-3798	195	1	brown	brown	ADJ
fsr-3798	195	2	,	,	PUNCT
fsr-3798	195	3	harlow	harlow	NOUN
fsr-3798	195	4	,	,	PUNCT
fsr-3798	195	5	and	and	CCONJ
fsr-3798	195	6	starks	stark	NOUN
fsr-3798	195	7	(	(	PUNCT
fsr-3798	195	8	1996	1996	NUM
fsr-3798	195	9	)	)	PUNCT
fsr-3798	195	10	show	show	VERB
fsr-3798	195	11	that	that	SCONJ
fsr-3798	195	12	fund	fund	NOUN
fsr-3798	195	13	managers	manager	NOUN
fsr-3798	195	14	have	have	VERB
fsr-3798	195	15	compensation	compensation	NOUN
fsr-3798	195	16	incentives	incentive	NOUN
fsr-3798	195	17	to	to	PART
fsr-3798	195	18	manipulate	manipulate	VERB
fsr-3798	195	19	their	their	PRON
fsr-3798	195	20	risk	risk	NOUN
fsr-3798	195	21	levels	level	NOUN
fsr-3798	195	22	.	.	PUNCT
fsr-3798	196	1	results	result	NOUN
fsr-3798	196	2	show	show	VERB
fsr-3798	196	3	a	a	DET
fsr-3798	196	4	negative	negative	ADJ
fsr-3798	196	5	,	,	PUNCT
fsr-3798	196	6	but	but	CCONJ
fsr-3798	196	7	statistically	statistically	ADV
fsr-3798	196	8	insignificant	insignificant	ADJ
fsr-3798	196	9	relationship	relationship	NOUN
fsr-3798	196	10	.	.	PUNCT
fsr-3798	197	1	mba	mba	NOUN
fsr-3798	197	2	may	may	AUX
fsr-3798	197	3	be	be	AUX
fsr-3798	197	4	positively	positively	ADV
fsr-3798	197	5	related	relate	VERB
fsr-3798	197	6	to	to	ADP
fsr-3798	197	7	beta	beta	NOUN
fsr-3798	197	8	but	but	CCONJ
fsr-3798	197	9	not	not	PART
fsr-3798	197	10	residual	residual	ADJ
fsr-3798	197	11	standard	standard	ADJ
fsr-3798	197	12	deviation	deviation	NOUN
fsr-3798	197	13	because	because	SCONJ
fsr-3798	197	14	mbas	mba	NOUN
fsr-3798	197	15	are	be	AUX
fsr-3798	197	16	taught	teach	VERB
fsr-3798	197	17	that	that	SCONJ
fsr-3798	197	18	only	only	ADV
fsr-3798	197	19	beta	beta	ADJ
fsr-3798	197	20	risk	risk	NOUN
fsr-3798	197	21	receives	receive	VERB
fsr-3798	197	22	compensation	compensation	NOUN
fsr-3798	197	23	in	in	ADP
fsr-3798	197	24	the	the	DET
fsr-3798	197	25	market	market	NOUN
fsr-3798	197	26	.	.	PUNCT
fsr-3798	198	1	hence	hence	ADV
fsr-3798	198	2	,	,	PUNCT
fsr-3798	198	3	mbas	mbas	PROPN
fsr-3798	198	4	are	be	AUX
fsr-3798	198	5	more	more	ADV
fsr-3798	198	6	likely	likely	ADJ
fsr-3798	198	7	than	than	SCONJ
fsr-3798	198	8	other	other	ADJ
fsr-3798	198	9	managers	manager	NOUN
fsr-3798	198	10	to	to	PART
fsr-3798	198	11	try	try	VERB
fsr-3798	198	12	to	to	PART
fsr-3798	198	13	outperform	outperform	VERB
fsr-3798	198	14	the	the	DET
fsr-3798	198	15	market	market	NOUN
fsr-3798	198	16	index	index	NOUN
fsr-3798	198	17	by	by	ADP
fsr-3798	198	18	increasing	increase	VERB
fsr-3798	198	19	beta	beta	NOUN
fsr-3798	198	20	rather	rather	ADV
fsr-3798	198	21	than	than	ADP
fsr-3798	198	22	residual	residual	ADJ
fsr-3798	198	23	risk	risk	NOUN
fsr-3798	198	24	.	.	PUNCT
fsr-3798	199	1	as	as	SCONJ
fsr-3798	199	2	predicted	predict	VERB
fsr-3798	199	3	,	,	PUNCT
fsr-3798	199	4	mba	mba	NOUN
fsr-3798	199	5	and	and	CCONJ
fsr-3798	199	6	beta	beta	NOUN
fsr-3798	199	7	are	be	AUX
fsr-3798	199	8	significantly	significantly	ADV
fsr-3798	199	9	positively	positively	ADV
fsr-3798	199	10	related	relate	VERB
fsr-3798	199	11	although	although	SCONJ
fsr-3798	199	12	mba	mba	NOUN
fsr-3798	199	13	and	and	CCONJ
fsr-3798	199	14	residual	residual	ADJ
fsr-3798	199	15	standard	standard	ADJ
fsr-3798	199	16	deviation	deviation	NOUN
fsr-3798	199	17	are	be	AUX
fsr-3798	199	18	not	not	PART
fsr-3798	199	19	significantly	significantly	ADV
fsr-3798	199	20	related	relate	VERB
fsr-3798	199	21	.	.	PUNCT
fsr-3798	200	1	team	team	NOUN
fsr-3798	200	2	size	size	NOUN
fsr-3798	200	3	has	have	VERB
fsr-3798	200	4	no	no	DET
fsr-3798	200	5	clear	clear	ADJ
fsr-3798	200	6	impact	impact	NOUN
fsr-3798	200	7	on	on	ADP
fsr-3798	200	8	beta	beta	NOUN
fsr-3798	200	9	but	but	CCONJ
fsr-3798	200	10	one	one	PRON
fsr-3798	200	11	might	might	AUX
fsr-3798	200	12	expect	expect	VERB
fsr-3798	200	13	that	that	SCONJ
fsr-3798	200	14	as	as	SCONJ
fsr-3798	200	15	the	the	DET
fsr-3798	200	16	number	number	NOUN
fsr-3798	200	17	of	of	ADP
fsr-3798	200	18	man	man	NOUN
fsr-3798	200	19	agers	ager	NOUN
fsr-3798	200	20	grows	grow	VERB
fsr-3798	200	21	,	,	PUNCT
fsr-3798	200	22	residual	residual	ADJ
fsr-3798	200	23	risk	risk	NOUN
fsr-3798	200	24	would	would	AUX
fsr-3798	200	25	fall	fall	VERB
fsr-3798	200	26	because	because	SCONJ
fsr-3798	200	27	each	each	DET
fsr-3798	200	28	individual	individual	NOUN
fsr-3798	200	29	in	in	ADP
fsr-3798	200	30	a	a	DET
fsr-3798	200	31	team	team	NOUN
fsr-3798	200	32	may	may	AUX
fsr-3798	200	33	wish	wish	VERB
fsr-3798	200	34	to	to	PART
fsr-3798	200	35	include	include	VERB
fsr-3798	200	36	his	his	PRON
fsr-3798	200	37	or	or	CCONJ
fsr-3798	200	38	her	her	PRON
fsr-3798	200	39	favorite	favorite	ADJ
fsr-3798	200	40	stocks	stock	NOUN
fsr-3798	200	41	in	in	ADP
fsr-3798	200	42	the	the	DET
fsr-3798	200	43	fund	fund	NOUN
fsr-3798	200	44	.	.	PUNCT
fsr-3798	201	1	results	result	NOUN
fsr-3798	201	2	show	show	VERB
fsr-3798	201	3	a	a	DET
fsr-3798	201	4	positive	positive	ADJ
fsr-3798	201	5	but	but	CCONJ
fsr-3798	201	6	insignificant	insignificant	ADJ
fsr-3798	201	7	relationship	relationship	NOUN
fsr-3798	201	8	between	between	ADP
fsr-3798	201	9	residual	residual	ADJ
fsr-3798	201	10	risk	risk	NOUN
fsr-3798	201	11	and	and	CCONJ
fsr-3798	201	12	team	team	NOUN
fsr-3798	201	13	size	size	NOUN
fsr-3798	201	14	,	,	PUNCT
fsr-3798	201	15	however	however	ADV
fsr-3798	201	16	.	.	PUNCT
fsr-3798	202	1	142	142	NUM
fsr-3798	202	2	financial	financial	ADJ
fsr-3798	202	3	services	service	NOUN
fsr-3798	202	4	review	review	VERB
fsr-3798	202	5	5(2	5(2	NUM
fsr-3798	202	6	)	)	PUNCT
fsr-3798	202	7	1996	1996	NUM
fsr-3798	202	8	table	table	NOUN
fsr-3798	202	9	3	3	NUM
fsr-3798	202	10	beta	beta	NOUN
fsr-3798	202	11	and	and	CCONJ
fsr-3798	202	12	residual	residual	ADJ
fsr-3798	202	13	standard	standard	ADJ
fsr-3798	202	14	deviation	deviation	NOUN
fsr-3798	202	15	3sls	3sls	NOUN
fsr-3798	202	16	structural	structural	ADJ
fsr-3798	202	17	and	and	CCONJ
fsr-3798	202	18	reduced	reduced	ADJ
fsr-3798	202	19	form	form	NOUN
fsr-3798	202	20	regressions	regression	NOUN
fsr-3798	202	21	beta	beta	NOUN
fsr-3798	202	22	regressions	regression	NOUN
fsr-3798	202	23	structural	structural	ADJ
fsr-3798	202	24	reduced	reduce	VERB
fsr-3798	202	25	stundard	stundard	NOUN
fsr-3798	202	26	deviation	deviation	NOUN
fsr-3798	202	27	regressions	regression	NOUN
fsr-3798	202	28	structural	structural	ADJ
fsr-3798	202	29	reduced	reduce	VERB
fsr-3798	202	30	endogenous	endogenous	ADJ
fsr-3798	202	31	variables	variable	NOUN
fsr-3798	202	32	intercept	intercept	VERB
fsr-3798	202	33	yield	yield	NOUN
fsr-3798	202	34	(	(	PUNCT
fsr-3798	202	35	%	%	INTJ
fsr-3798	202	36	)	)	PUNCT
fsr-3798	203	1	alpha	alpha	NOUN
fsr-3798	203	2	(	(	PUNCT
fsr-3798	203	3	%	%	INTJ
fsr-3798	203	4	)	)	PUNCT
fsr-3798	203	5	beta	beta	PROPN
fsr-3798	203	6	residual	residual	ADJ
fsr-3798	203	7	st	st	PROPN
fsr-3798	203	8	.	.	PROPN
fsr-3798	203	9	dev	dev	PROPN
fsr-3798	203	10	.	.	PUNCT
fsr-3798	204	1	(	(	PUNCT
fsr-3798	204	2	8)	8)	NUM
fsr-3798	204	3	”	"	PUNCT
fsr-3798	204	4	expense	expense	NOUN
fsr-3798	204	5	ratio	ratio	NOUN
fsr-3798	204	6	(	(	PUNCT
fsr-3798	204	7	%	%	INTJ
fsr-3798	204	8	)	)	PUNCT
fsr-3798	204	9	management	management	NOUN
fsr-3798	204	10	fee	fee	NOUN
fsr-3798	204	11	(	(	PUNCT
fsr-3798	204	12	%	%	INTJ
fsr-3798	204	13	)	)	PUNCT
fsr-3798	204	14	turnoverb	turnoverb	NOUN
fsr-3798	204	15	(	(	PUNCT
fsr-3798	204	16	%	%	INTJ
fsr-3798	204	17	)	)	PUNCT
fsr-3798	204	18	0.780	0.780	NUM
fsr-3798	204	19	*	*	PUNCT
fsr-3798	204	20	0.952	0.952	NUM
fsr-3798	204	21	*	*	PUNCT
fsr-3798	204	22	4.832	4.832	NUM
fsr-3798	204	23	*	*	NOUN
fsr-3798	204	24	0.695	0.695	NUM
fsr-3798	204	25	0.761	0.761	NUM
fsr-3798	204	26	5.941	5.941	NUM
fsr-3798	204	27	*	*	NOUN
fsr-3798	204	28	0.759	0.759	NUM
fsr-3798	204	29	*	*	SYM
fsr-3798	204	30	2.680	2.680	NUM
fsr-3798	204	31	exogenous	exogenous	ADJ
fsr-3798	204	32	vuriubles	vuriuble	NOUN
fsr-3798	204	33	managerb	managerb	NOUN
fsr-3798	204	34	age	age	NOUN
fsr-3798	204	35	(	(	PUNCT
fsr-3798	204	36	years	year	NOUN
fsr-3798	204	37	)	)	PUNCT
fsr-3798	204	38	tenureb	tenureb	PROPN
fsr-3798	204	39	(	(	PUNCT
fsr-3798	204	40	years	year	NOUN
fsr-3798	204	41	)	)	PUNCT
fsr-3798	204	42	years	year	NOUN
fsr-3798	204	43	of	of	ADP
fsr-3798	204	44	education	education	NOUN
fsr-3798	204	45	mba	mba	NOUN
fsr-3798	204	46	degree	degree	NOUN
fsr-3798	204	47	team	team	NOUN
fsr-3798	204	48	size	size	NOUN
fsr-3798	204	49	fzi	fzi	PROPN
fsr-3798	204	50	~~~~t	~~~~t	PROPN
fsr-3798	204	51	~	~	PUNCT
fsr-3798	204	52	x	x	X
fsr-3798	204	53	~	~	X
fsr-3798	204	54	l)lions	l)lion	NOUN
fsr-3798	204	55	)	)	PUNCT
fsr-3798	204	56	load	load	NOUN
fsr-3798	204	57	(	(	PUNCT
fsr-3798	204	58	8)	8)	NUM
fsr-3798	204	59	0.017	0.017	NUM
fsr-3798	204	60	a.800	a.800	NOUN
fsr-3798	204	61	20.30	20.30	NUM
fsr-3798	204	62	16.44	16.44	NUM
fsr-3798	204	63	-2.878	-2.878	X
fsr-3798	204	64	-3.430	-3.430	X
fsr-3798	204	65	*	*	PUNCT
fsr-3798	204	66	*	*	PUNCT
fsr-3798	204	67	-19.80	-19.80	PUNCT
fsr-3798	204	68	-23.55	-23.55	SYM
fsr-3798	204	69	0.000	0.000	NUM
fsr-3798	204	70	0.000	0.000	NUM
fsr-3798	204	71	0.05	0.05	NUM
fsr-3798	204	72	1	1	NUM
fsr-3798	204	73	*	*	SYM
fsr-3798	204	74	0.044	0.044	NUM
fsr-3798	204	75	*	*	SYM
fsr-3798	204	76	0.07	0.07	NUM
fsr-3798	204	77	1	1	NUM
fsr-3798	204	78	0.072	0.072	NUM
fsr-3798	204	79	0.002	0.002	NUM
fsr-3798	204	80	0.137	0.137	NUM
fsr-3798	204	81	0.140	0.140	NUM
fsr-3798	204	82	2.314	2.314	NUM
fsr-3798	204	83	*	*	NUM
fsr-3798	204	84	1.684	1.684	NUM
fsr-3798	204	85	*	*	PUNCT
fsr-3798	204	86	-24.80	-24.80	PROPN
fsr-3798	204	87	*	*	PUNCT
fsr-3798	204	88	-25.13	-25.13	PROPN
fsr-3798	204	89	*	*	PUNCT
fsr-3798	204	90	-0.004	-0.004	PUNCT
fsr-3798	204	91	-0.299	-0.299	PUNCT
fsr-3798	205	1	*	*	SYM
fsr-3798	205	2	4.306	4.306	NUM
fsr-3798	205	3	*	*	NUM
fsr-3798	205	4	a.002	a.002	PROPN
fsr-3798	205	5	4koo6	4koo6	NUM
fsr-3798	205	6	fund	fund	NOUN
fsr-3798	205	7	objectives	objective	NOUN
fsr-3798	205	8	growth	growth	VERB
fsr-3798	205	9	aggressive	aggressive	ADJ
fsr-3798	205	10	growth	growth	NOUN
fsr-3798	205	11	growth	growth	NOUN
fsr-3798	205	12	and	and	CCONJ
fsr-3798	205	13	income	income	VERB
fsr-3798	205	14	small	small	ADJ
fsr-3798	205	15	stock	stock	NOUN
fsr-3798	205	16	special	special	ADJ
fsr-3798	205	17	balanced	balanced	ADJ
fsr-3798	205	18	asset	asset	NOUN
fsr-3798	205	19	allocation	allocation	NOUN
fsr-3798	205	20	option	option	NOUN
fsr-3798	205	21	equity	equity	NOUN
fsr-3798	205	22	international	international	ADJ
fsr-3798	205	23	0.087	0.087	NUM
fsr-3798	205	24	-0.148	-0.148	PROPN
fsr-3798	205	25	*	*	SYM
fsr-3798	205	26	0.099	0.099	NUM
fsr-3798	205	27	*	*	PUNCT
fsr-3798	205	28	-0.288	-0.288	PUNCT
fsr-3798	205	29	*	*	PUNCT
fsr-3798	205	30	-0.377	-0.377	X
fsr-3798	205	31	*	*	PUNCT
fsr-3798	205	32	-0.377	-0.377	PUNCT
fsr-3798	205	33	%	%	NOUN
fsr-3798	205	34	-0.402	-0.402	NOUN
fsr-3798	205	35	*	*	PUNCT
fsr-3798	205	36	-0.318	-0.318	PROPN
fsr-3798	205	37	*	*	PUNCT
fsr-3798	205	38	0.164	0.164	NUM
fsr-3798	205	39	*	*	NUM
fsr-3798	205	40	4.167	4.167	NUM
fsr-3798	205	41	*	*	NOUN
fsr-3798	205	42	0.130	0.130	NUM
fsr-3798	205	43	*	*	SYM
fsr-3798	205	44	x).229	x).229	PROPN
fsr-3798	205	45	*	*	PROPN
fsr-3798	205	46	x).392	x).392	PROPN
fsr-3798	205	47	*	*	SYM
fsr-3798	205	48	4).399	4).399	NOUN
fsr-3798	205	49	*	*	NOUN
fsr-3798	205	50	4i410	4i410	PROPN
fsr-3798	205	51	*	*	PUNCT
fsr-3798	205	52	-0.282	-0.282	PUNCT
fsr-3798	205	53	*	*	PUNCT
fsr-3798	205	54	3.634	3.634	NUM
fsr-3798	205	55	*	*	PUNCT
fsr-3798	205	56	-1.607	-1.607	PUNCT
fsr-3798	205	57	*	*	PUNCT
fsr-3798	205	58	3.259	3.259	NUM
fsr-3798	205	59	*	*	SYM
fsr-3798	205	60	4.461	4.461	NUM
fsr-3798	205	61	*	*	PUNCT
fsr-3798	205	62	-2.255	-2.255	NOUN
fsr-3798	205	63	*	*	PUNCT
fsr-3798	205	64	-2.624	-2.624	PUNCT
fsr-3798	205	65	*	*	PUNCT
fsr-3798	205	66	-0.713	-0.713	PUNCT
fsr-3798	205	67	6.200	6.200	NUM
fsr-3798	205	68	*	*	PUNCT
fsr-3798	205	69	3.916	3.916	NUM
fsr-3798	205	70	*	*	PUNCT
fsr-3798	205	71	-1.740	-1.740	NOUN
fsr-3798	205	72	*	*	NOUN
fsr-3798	205	73	3.368	3.368	NUM
fsr-3798	205	74	*	*	SYM
fsr-3798	205	75	4.393	4.393	NUM
fsr-3798	205	76	*	*	NOUN
fsr-3798	205	77	-2.51	-2.51	NUM
fsr-3798	205	78	l	l	NOUN
fsr-3798	205	79	*	*	PUNCT
fsr-3798	205	80	-2.901	-2.901	PROPN
fsr-3798	205	81	*	*	PUNCT
fsr-3798	205	82	-1.002	-1.002	NOUN
fsr-3798	206	1	5.980	5.980	NUM
fsr-3798	206	2	*	*	SYM
fsr-3798	206	3	r	r	X
fsr-3798	206	4	-	-	PUNCT
fsr-3798	206	5	squared	square	VERB
fsr-3798	206	6	0.35	0.35	NUM
fsr-3798	206	7	0.34	0.34	NUM
fsr-3798	206	8	0.58	0.58	NUM
fsr-3798	206	9	0.57	0.57	NUM
fsr-3798	206	10	nom	nom	NOUN
fsr-3798	206	11	:	:	PUNCT
fsr-3798	206	12	“	"	PUNCT
fsr-3798	206	13	@‘divide	@‘divide	NOUN
fsr-3798	206	14	coefficients	coefficient	NOUN
fsr-3798	206	15	by	by	ADP
fsr-3798	206	16	100	100	NUM
fsr-3798	206	17	(	(	PUNCT
fsr-3798	206	18	1000	1000	NUM
fsr-3798	206	19	)	)	PUNCT
fsr-3798	206	20	.	.	PUNCT
fsr-3798	207	1	*	*	PUNCT
fsr-3798	207	2	(	(	PUNCT
fsr-3798	207	3	*	*	PUNCT
fsr-3798	207	4	*	*	NOUN
fsr-3798	207	5	)	)	PUNCT
fsr-3798	207	6	significant	significant	ADJ
fsr-3798	207	7	at	at	ADP
fsr-3798	207	8	least	least	ADJ
fsr-3798	207	9	at	at	ADP
fsr-3798	207	10	the	the	DET
fsr-3798	207	11	5	5	NUM
fsr-3798	207	12	(	(	PUNCT
fsr-3798	207	13	10	10	NUM
fsr-3798	207	14	)	)	PUNCT
fsr-3798	207	15	percent	percent	NOUN
fsr-3798	207	16	level	level	NOUN
fsr-3798	207	17	using	use	VERB
fsr-3798	207	18	a	a	DET
fsr-3798	207	19	two	two	NUM
fsr-3798	207	20	-	-	PUNCT
fsr-3798	207	21	tailed	tail	VERB
fsr-3798	207	22	test	test	NOUN
fsr-3798	207	23	funds	fund	NOUN
fsr-3798	207	24	that	that	PRON
fsr-3798	207	25	provide	provide	VERB
fsr-3798	207	26	more	more	ADJ
fsr-3798	207	27	systematic	systematic	ADJ
fsr-3798	207	28	risk	risk	NOUN
fsr-3798	207	29	and	and	CCONJ
fsr-3798	207	30	less	less	ADV
fsr-3798	207	31	residual	residual	ADJ
fsr-3798	207	32	risk	risk	NOUN
fsr-3798	207	33	should	should	AUX
fsr-3798	207	34	earn	earn	VERB
fsr-3798	207	35	larger	large	ADJ
fsr-3798	207	36	aver	aver	NOUN
fsr-3798	207	37	age	age	NOUN
fsr-3798	207	38	returns	return	NOUN
fsr-3798	207	39	with	with	ADP
fsr-3798	207	40	relatively	relatively	ADV
fsr-3798	207	41	less	less	ADJ
fsr-3798	207	42	noise	noise	NOUN
fsr-3798	207	43	trading	trading	NOUN
fsr-3798	207	44	,	,	PUNCT
fsr-3798	207	45	thereby	thereby	ADV
fsr-3798	207	46	improving	improve	VERB
fsr-3798	207	47	their	their	PRON
fsr-3798	207	48	survival	survival	NOUN
fsr-3798	207	49	chances	chance	NOUN
fsr-3798	207	50	.	.	PUNCT
fsr-3798	208	1	consequently	consequently	ADV
fsr-3798	208	2	,	,	PUNCT
fsr-3798	208	3	fund	fund	NOUN
fsr-3798	208	4	age	age	NOUN
fsr-3798	208	5	and	and	CCONJ
fsr-3798	208	6	beta	beta	NOUN
fsr-3798	208	7	(	(	PUNCT
fsr-3798	208	8	residual	residual	ADJ
fsr-3798	208	9	standard	standard	ADJ
fsr-3798	208	10	deviation	deviation	NOUN
fsr-3798	208	11	)	)	PUNCT
fsr-3798	208	12	should	should	AUX
fsr-3798	208	13	be	be	AUX
fsr-3798	208	14	positively	positively	ADV
fsr-3798	208	15	(	(	PUNCT
fsr-3798	208	16	nega	nega	NOUN
fsr-3798	208	17	tively	tively	ADV
fsr-3798	208	18	)	)	PUNCT
fsr-3798	208	19	related	relate	VERB
fsr-3798	208	20	.	.	PUNCT
fsr-3798	209	1	structural	structural	ADJ
fsr-3798	209	2	coefficients	coefficient	NOUN
fsr-3798	209	3	in	in	ADP
fsr-3798	209	4	table	table	NOUN
fsr-3798	209	5	3	3	NUM
fsr-3798	209	6	show	show	NOUN
fsr-3798	209	7	that	that	SCONJ
fsr-3798	209	8	fund	fund	NOUN
fsr-3798	209	9	age	age	NOUN
fsr-3798	209	10	is	be	AUX
fsr-3798	209	11	positively	positively	ADV
fsr-3798	209	12	related	relate	VERB
fsr-3798	209	13	to	to	ADP
fsr-3798	209	14	beta	beta	NOUN
fsr-3798	209	15	and	and	CCONJ
fsr-3798	209	16	negatively	negatively	ADV
fsr-3798	209	17	related	relate	VERB
fsr-3798	209	18	to	to	ADP
fsr-3798	209	19	residual	residual	ADJ
fsr-3798	209	20	standard	standard	ADJ
fsr-3798	209	21	deviation	deviation	NOUN
fsr-3798	209	22	,	,	PUNCT
fsr-3798	209	23	as	as	SCONJ
fsr-3798	209	24	expected	expect	VERB
fsr-3798	209	25	.	.	PUNCT
fsr-3798	210	1	this	this	DET
fsr-3798	210	2	interpretation	interpretation	NOUN
fsr-3798	210	3	gains	gain	VERB
fsr-3798	210	4	further	further	ADJ
fsr-3798	210	5	support	support	NOUN
fsr-3798	210	6	from	from	ADP
fsr-3798	210	7	the	the	DET
fsr-3798	210	8	reduced	reduce	VERB
fsr-3798	210	9	form	form	NOUN
fsr-3798	210	10	coefficients	coefficient	NOUN
fsr-3798	210	11	.	.	PUNCT
fsr-3798	211	1	the	the	DET
fsr-3798	211	2	indirect	indirect	ADJ
fsr-3798	211	3	effect	effect	NOUN
fsr-3798	211	4	of	of	ADP
fsr-3798	211	5	less	less	ADJ
fsr-3798	211	6	noise	noise	NOUN
fsr-3798	211	7	trading	trading	NOUN
fsr-3798	211	8	is	be	AUX
fsr-3798	211	9	less	less	ADJ
fsr-3798	211	10	turnover	turnover	NOUN
fsr-3798	211	11	and	and	CCONJ
fsr-3798	211	12	less	less	ADV
fsr-3798	211	13	residual	residual	ADJ
fsr-3798	211	14	risk	risk	NOUN
fsr-3798	211	15	,	,	PUNCT
fsr-3798	211	16	both	both	PRON
fsr-3798	211	17	of	of	ADP
fsr-3798	211	18	which	which	PRON
fsr-3798	211	19	imply	imply	VERB
fsr-3798	211	20	a	a	DET
fsr-3798	211	21	smaller	small	ADJ
fsr-3798	211	22	reduced	reduce	VERB
fsr-3798	211	23	form	form	NOUN
fsr-3798	211	24	coefficient	coefficient	NOUN
fsr-3798	211	25	(	(	PUNCT
fsr-3798	211	26	1.684	1.684	NUM
fsr-3798	211	27	)	)	PUNCT
fsr-3798	211	28	than	than	ADP
fsr-3798	211	29	the	the	DET
fsr-3798	211	30	structural	structural	ADJ
fsr-3798	211	31	coefficient	coefficient	NOUN
fsr-3798	211	32	(	(	PUNCT
fsr-3798	211	33	2.3	2.3	NUM
fsr-3798	211	34	14	14	NUM
fsr-3798	211	35	)	)	PUNCT
fsr-3798	211	36	in	in	ADP
fsr-3798	211	37	the	the	DET
fsr-3798	211	38	beta	beta	NOUN
fsr-3798	211	39	equation	equation	NOUN
fsr-3798	211	40	.	.	PUNCT
fsr-3798	212	1	in	in	ADP
fsr-3798	212	2	the	the	DET
fsr-3798	212	3	resid	resid	ADJ
fsr-3798	212	4	ual	ual	PROPN
fsr-3798	212	5	standard	standard	ADJ
fsr-3798	212	6	deviation	deviation	NOUN
fsr-3798	212	7	equation	equation	NOUN
fsr-3798	212	8	,	,	PUNCT
fsr-3798	212	9	the	the	DET
fsr-3798	212	10	indirect	indirect	ADJ
fsr-3798	212	11	positive	positive	ADJ
fsr-3798	212	12	effect	effect	NOUN
fsr-3798	212	13	of	of	ADP
fsr-3798	212	14	fund	fund	NOUN
fsr-3798	212	15	age	age	NOUN
fsr-3798	212	16	on	on	ADP
fsr-3798	212	17	beta	beta	NOUN
fsr-3798	212	18	partly	partly	ADV
fsr-3798	212	19	off	off	ADP
fsr-3798	212	20	sets	set	VERB
fsr-3798	212	21	the	the	DET
fsr-3798	212	22	negative	negative	ADJ
fsr-3798	212	23	indirect	indirect	ADJ
fsr-3798	212	24	effect	effect	NOUN
fsr-3798	212	25	of	of	ADP
fsr-3798	212	26	less	less	ADJ
fsr-3798	212	27	turnover	turnover	NOUN
fsr-3798	212	28	so	so	SCONJ
fsr-3798	212	29	that	that	SCONJ
fsr-3798	212	30	the	the	DET
fsr-3798	212	31	reduced	reduce	VERB
fsr-3798	212	32	form	form	NOUN
fsr-3798	212	33	coefficient	coefficient	NOUN
fsr-3798	212	34	is	be	AUX
fsr-3798	212	35	only	only	ADV
fsr-3798	212	36	a	a	DET
fsr-3798	212	37	bit	bit	NOUN
fsr-3798	212	38	smaller	small	ADJ
fsr-3798	212	39	(	(	PUNCT
fsr-3798	212	40	-25.13	-25.13	PROPN
fsr-3798	212	41	vs.	vs.	X
fsr-3798	212	42	-24.80	-24.80	VERB
fsr-3798	212	43	)	)	PUNCT
fsr-3798	212	44	.	.	PUNCT
fsr-3798	213	1	fund	fund	NOUN
fsr-3798	213	2	asset	asset	NOUN
fsr-3798	213	3	size	size	NOUN
fsr-3798	213	4	should	should	AUX
fsr-3798	213	5	have	have	VERB
fsr-3798	213	6	a	a	DET
fsr-3798	213	7	negative	negative	ADJ
fsr-3798	213	8	effect	effect	NOUN
fsr-3798	213	9	on	on	ADP
fsr-3798	213	10	residual	residual	ADJ
fsr-3798	213	11	standard	standard	ADJ
fsr-3798	213	12	deviation	deviation	NOUN
fsr-3798	213	13	because	because	SCONJ
fsr-3798	213	14	more	more	ADJ
fsr-3798	213	15	assets	asset	NOUN
fsr-3798	213	16	require	require	VERB
fsr-3798	213	17	managers	manager	NOUN
fsr-3798	213	18	to	to	PART
fsr-3798	213	19	invest	invest	VERB
fsr-3798	213	20	in	in	ADP
fsr-3798	213	21	more	more	ADJ
fsr-3798	213	22	companies	company	NOUN
fsr-3798	213	23	.	.	PUNCT
fsr-3798	214	1	most	most	ADJ
fsr-3798	214	2	funds	fund	NOUN
fsr-3798	214	3	have	have	VERB
fsr-3798	214	4	limitations	limitation	NOUN
fsr-3798	214	5	on	on	ADP
fsr-3798	214	6	how	how	SCONJ
fsr-3798	214	7	much	much	ADJ
fsr-3798	214	8	they	they	PRON
fsr-3798	214	9	can	can	AUX
fsr-3798	214	10	invest	invest	VERB
fsr-3798	214	11	in	in	ADP
fsr-3798	214	12	any	any	DET
fsr-3798	214	13	one	one	NUM
fsr-3798	214	14	stock	stock	NOUN
fsr-3798	214	15	.	.	PUNCT
fsr-3798	215	1	as	as	SCONJ
fsr-3798	215	2	predicted	predict	VERB
fsr-3798	215	3	,	,	PUNCT
fsr-3798	215	4	results	result	NOUN
fsr-3798	215	5	support	support	VERB
fsr-3798	215	6	a	a	DET
fsr-3798	215	7	strong	strong	ADJ
fsr-3798	215	8	negative	negative	ADJ
fsr-3798	215	9	relationship	relationship	NOUN
fsr-3798	215	10	between	between	ADP
fsr-3798	215	11	assets	asset	NOUN
fsr-3798	215	12	and	and	CCONJ
fsr-3798	215	13	residual	residual	ADJ
fsr-3798	215	14	risk	risk	NOUN
fsr-3798	215	15	.	.	PUNCT
fsr-3798	216	1	mutual	mutual	ADJ
fsr-3798	216	2	fund	fund	NOUN
fsr-3798	216	3	managers	manager	NOUN
fsr-3798	216	4	143	143	NUM
fsr-3798	216	5	the	the	DET
fsr-3798	216	6	coefficients	coefficient	NOUN
fsr-3798	216	7	on	on	ADP
fsr-3798	216	8	the	the	DET
fsr-3798	216	9	objectives	objective	NOUN
fsr-3798	216	10	are	be	AUX
fsr-3798	216	11	all	all	ADV
fsr-3798	216	12	as	as	SCONJ
fsr-3798	216	13	one	one	PRON
fsr-3798	216	14	would	would	AUX
fsr-3798	216	15	expect	expect	VERB
fsr-3798	216	16	.	.	PUNCT
fsr-3798	217	1	for	for	ADP
fsr-3798	217	2	example	example	NOUN
fsr-3798	217	3	,	,	PUNCT
fsr-3798	217	4	aggres	aggre	VERB
fsr-3798	217	5	sive	sive	ADJ
fsr-3798	217	6	growth	growth	NOUN
fsr-3798	217	7	funds	fund	NOUN
fsr-3798	217	8	have	have	VERB
fsr-3798	217	9	relatively	relatively	ADV
fsr-3798	217	10	large	large	ADJ
fsr-3798	217	11	betas	beta	NOUN
fsr-3798	217	12	and	and	CCONJ
fsr-3798	217	13	residual	residual	ADJ
fsr-3798	217	14	standard	standard	ADJ
fsr-3798	217	15	deviations	deviation	NOUN
fsr-3798	217	16	while	while	SCONJ
fsr-3798	217	17	spe	spe	PROPN
fsr-3798	217	18	cialized	cialize	VERB
fsr-3798	217	19	funds	fund	NOUN
fsr-3798	217	20	which	which	PRON
fsr-3798	217	21	hold	hold	VERB
fsr-3798	217	22	securities	security	NOUN
fsr-3798	217	23	in	in	ADP
fsr-3798	217	24	one	one	NUM
fsr-3798	217	25	industry	industry	NOUN
fsr-3798	217	26	have	have	VERB
fsr-3798	217	27	relatively	relatively	ADV
fsr-3798	217	28	large	large	ADJ
fsr-3798	217	29	residual	residual	ADJ
fsr-3798	217	30	standard	standard	ADJ
fsr-3798	217	31	deviations	deviation	NOUN
fsr-3798	217	32	.	.	PUNCT
fsr-3798	218	1	overall	overall	ADV
fsr-3798	218	2	,	,	PUNCT
fsr-3798	218	3	the	the	DET
fsr-3798	218	4	most	most	ADV
fsr-3798	218	5	notable	notable	ADJ
fsr-3798	218	6	result	result	NOUN
fsr-3798	218	7	from	from	ADP
fsr-3798	218	8	the	the	DET
fsr-3798	218	9	beta	beta	NOUN
fsr-3798	218	10	equation	equation	NOUN
fsr-3798	218	11	is	be	AUX
fsr-3798	218	12	that	that	SCONJ
fsr-3798	218	13	larger	large	ADJ
fsr-3798	218	14	portfolio	portfolio	NOUN
fsr-3798	218	15	turnover	turnover	NOUN
fsr-3798	218	16	,	,	PUNCT
fsr-3798	218	17	fund	fund	NOUN
fsr-3798	218	18	age	age	NOUN
fsr-3798	218	19	and	and	CCONJ
fsr-3798	218	20	a	a	DET
fsr-3798	218	21	manager	manager	NOUN
fsr-3798	218	22	with	with	ADP
fsr-3798	218	23	an	an	DET
fsr-3798	218	24	mba	mba	NOUN
fsr-3798	218	25	are	be	AUX
fsr-3798	218	26	associated	associate	VERB
fsr-3798	218	27	with	with	ADP
fsr-3798	218	28	a	a	DET
fsr-3798	218	29	larger	large	ADJ
fsr-3798	218	30	fund	fund	NOUN
fsr-3798	218	31	beta	beta	NOUN
fsr-3798	218	32	.	.	PUNCT
fsr-3798	219	1	older	old	ADJ
fsr-3798	219	2	,	,	PUNCT
fsr-3798	219	3	larger	large	ADJ
fsr-3798	219	4	funds	fund	NOUN
fsr-3798	219	5	can	can	AUX
fsr-3798	219	6	be	be	AUX
fsr-3798	219	7	expected	expect	VERB
fsr-3798	219	8	to	to	PART
fsr-3798	219	9	deliver	deliver	VERB
fsr-3798	219	10	smaller	small	ADJ
fsr-3798	219	11	residual	residual	ADJ
fsr-3798	219	12	risk	risk	NOUN
fsr-3798	219	13	.	.	PUNCT
fsr-3798	220	1	c.	c.	NOUN
fsr-3798	220	2	the	the	DET
fsr-3798	220	3	fee	fee	NOUN
fsr-3798	220	4	equations	equation	NOUN
fsr-3798	220	5	fees	fee	NOUN
fsr-3798	220	6	are	be	AUX
fsr-3798	220	7	broken	break	VERB
fsr-3798	220	8	down	down	ADP
fsr-3798	220	9	into	into	ADP
fsr-3798	220	10	three	three	NUM
fsr-3798	220	11	main	main	ADJ
fsr-3798	220	12	components	component	NOUN
fsr-3798	220	13	and	and	CCONJ
fsr-3798	220	14	examined	examine	VERB
fsr-3798	220	15	separately	separately	ADV
fsr-3798	220	16	because	because	SCONJ
fsr-3798	220	17	earlier	early	ADJ
fsr-3798	220	18	studies	study	NOUN
fsr-3798	220	19	such	such	ADJ
fsr-3798	220	20	as	as	ADP
fsr-3798	220	21	ippolito	ippolito	PROPN
fsr-3798	220	22	(	(	PUNCT
fsr-3798	220	23	1989	1989	NUM
fsr-3798	220	24	)	)	PUNCT
fsr-3798	220	25	have	have	AUX
fsr-3798	220	26	done	do	VERB
fsr-3798	220	27	so	so	ADV
fsr-3798	220	28	.	.	PUNCT
fsr-3798	221	1	although	although	SCONJ
fsr-3798	221	2	each	each	PRON
fsr-3798	221	3	represents	represent	VERB
fsr-3798	221	4	a	a	DET
fsr-3798	221	5	cost	cost	NOUN
fsr-3798	221	6	to	to	PART
fsr-3798	221	7	fund	fund	VERB
fsr-3798	221	8	shareholders	shareholder	NOUN
fsr-3798	221	9	and	and	CCONJ
fsr-3798	221	10	are	be	AUX
fsr-3798	221	11	affected	affect	VERB
fsr-3798	221	12	by	by	ADP
fsr-3798	221	13	some	some	PRON
fsr-3798	221	14	of	of	ADP
fsr-3798	221	15	the	the	DET
fsr-3798	221	16	same	same	ADJ
fsr-3798	221	17	variables	variable	NOUN
fsr-3798	221	18	,	,	PUNCT
fsr-3798	221	19	there	there	PRON
fsr-3798	221	20	are	be	VERB
fsr-3798	221	21	important	important	ADJ
fsr-3798	221	22	dif	dif	ADJ
fsr-3798	221	23	ferences	ference	NOUN
fsr-3798	221	24	as	as	ADV
fsr-3798	221	25	well	well	ADV
fsr-3798	221	26	.	.	PUNCT
fsr-3798	222	1	the	the	DET
fsr-3798	222	2	equations	equation	NOUN
fsr-3798	222	3	for	for	ADP
fsr-3798	222	4	expense	expense	NOUN
fsr-3798	222	5	ratio	ratio	NOUN
fsr-3798	222	6	,	,	PUNCT
fsr-3798	222	7	management	management	NOUN
fsr-3798	222	8	fee	fee	NOUN
fsr-3798	222	9	,	,	PUNCT
fsr-3798	222	10	and	and	CCONJ
fsr-3798	222	11	turnover	turnover	NOUN
fsr-3798	222	12	are	be	AUX
fsr-3798	222	13	:	:	PUNCT
fsr-3798	222	14	expenses	expense	NOUN
fsr-3798	222	15	=	=	SYM
fsr-3798	222	16	(	(	PUNCT
fsr-3798	222	17	turnover	turnover	NOUN
fsr-3798	222	18	,	,	PUNCT
fsr-3798	222	19	manager	manager	NOUN
fsr-3798	222	20	age	age	NOUN
fsr-3798	222	21	,	,	PUNCT
fsr-3798	222	22	tenure	tenure	NOUN
fsr-3798	222	23	,	,	PUNCT
fsr-3798	222	24	education	education	NOUN
fsr-3798	222	25	,	,	PUNCT
fsr-3798	222	26	mba	mba	NOUN
fsr-3798	222	27	,	,	PUNCT
fsr-3798	222	28	team	team	NOUN
fsr-3798	222	29	,	,	PUNCT
fsr-3798	222	30	fund	fund	NOUN
fsr-3798	222	31	age	age	NOUN
fsr-3798	222	32	,	,	PUNCT
fsr-3798	222	33	assets	asset	NOUN
fsr-3798	222	34	,	,	PUNCT
fsr-3798	222	35	load	load	NOUN
fsr-3798	222	36	,	,	PUNCT
fsr-3798	222	37	objective	objective	ADJ
fsr-3798	222	38	)	)	PUNCT
fsr-3798	222	39	management	management	NOUN
fsr-3798	222	40	fees	fee	NOUN
fsr-3798	222	41	=	=	SYM
fsr-3798	222	42	(	(	PUNCT
fsr-3798	222	43	beta	beta	NOUN
fsr-3798	222	44	,	,	PUNCT
fsr-3798	222	45	residual	residual	ADJ
fsr-3798	222	46	,	,	PUNCT
fsr-3798	222	47	turnover	turnover	NOUN
fsr-3798	222	48	,	,	PUNCT
fsr-3798	222	49	manager	manager	NOUN
fsr-3798	222	50	age	age	NOUN
fsr-3798	222	51	,	,	PUNCT
fsr-3798	222	52	tenure	tenure	NOUN
fsr-3798	222	53	,	,	PUNCT
fsr-3798	222	54	education	education	NOUN
fsr-3798	222	55	,	,	PUNCT
fsr-3798	222	56	mba	mba	NOUN
fsr-3798	222	57	,	,	PUNCT
fsr-3798	222	58	team	team	NOUN
fsr-3798	222	59	,	,	PUNCT
fsr-3798	222	60	fund	fund	NOUN
fsr-3798	222	61	age	age	NOUN
fsr-3798	222	62	,	,	PUNCT
fsr-3798	222	63	assets	asset	NOUN
fsr-3798	222	64	,	,	PUNCT
fsr-3798	222	65	load	load	NOUN
fsr-3798	222	66	,	,	PUNCT
fsr-3798	222	67	objective	objective	NOUN
fsr-3798	222	68	)	)	PUNCT
fsr-3798	222	69	(	(	PUNCT
fsr-3798	222	70	5	5	NUM
fsr-3798	222	71	)	)	PUNCT
fsr-3798	222	72	(	(	PUNCT
fsr-3798	222	73	6	6	X
fsr-3798	222	74	)	)	PUNCT
fsr-3798	222	75	turnover	turnover	NOUN
fsr-3798	222	76	=	=	SYM
fsr-3798	222	77	(	(	PUNCT
fsr-3798	222	78	manager	manager	NOUN
fsr-3798	222	79	age	age	NOUN
fsr-3798	222	80	,	,	PUNCT
fsr-3798	222	81	tenure	tenure	NOUN
fsr-3798	222	82	,	,	PUNCT
fsr-3798	222	83	mba	mba	NOUN
fsr-3798	222	84	,	,	PUNCT
fsr-3798	222	85	team	team	NOUN
fsr-3798	222	86	,	,	PUNCT
fsr-3798	222	87	fund	fund	NOUN
fsr-3798	222	88	age	age	NOUN
fsr-3798	222	89	,	,	PUNCT
fsr-3798	222	90	assets	asset	NOUN
fsr-3798	222	91	,	,	PUNCT
fsr-3798	222	92	load	load	NOUN
fsr-3798	222	93	,	,	PUNCT
fsr-3798	222	94	objective	objective	NOUN
fsr-3798	222	95	)	)	PUNCT
fsr-3798	222	96	(	(	PUNCT
fsr-3798	222	97	7	7	X
fsr-3798	222	98	)	)	PUNCT
fsr-3798	222	99	manager	manager	NOUN
fsr-3798	222	100	age	age	NOUN
fsr-3798	222	101	,	,	PUNCT
fsr-3798	222	102	tenure	tenure	NOUN
fsr-3798	222	103	,	,	PUNCT
fsr-3798	222	104	mba	mba	NOUN
fsr-3798	222	105	,	,	PUNCT
fsr-3798	222	106	team	team	NOUN
fsr-3798	222	107	size	size	NOUN
fsr-3798	222	108	,	,	PUNCT
fsr-3798	222	109	fund	fund	NOUN
fsr-3798	222	110	age	age	NOUN
fsr-3798	222	111	,	,	PUNCT
fsr-3798	222	112	assets	asset	NOUN
fsr-3798	222	113	,	,	PUNCT
fsr-3798	222	114	load	load	NOUN
fsr-3798	222	115	,	,	PUNCT
fsr-3798	222	116	and	and	CCONJ
fsr-3798	222	117	fund	fund	NOUN
fsr-3798	222	118	objective	objective	NOUN
fsr-3798	222	119	enter	enter	VERB
fsr-3798	222	120	each	each	DET
fsr-3798	222	121	equation	equation	NOUN
fsr-3798	222	122	.	.	PUNCT
fsr-3798	223	1	one	one	PRON
fsr-3798	223	2	would	would	AUX
fsr-3798	223	3	expect	expect	VERB
fsr-3798	223	4	managers	manager	NOUN
fsr-3798	223	5	to	to	PART
fsr-3798	223	6	improve	improve	VERB
fsr-3798	223	7	their	their	PRON
fsr-3798	223	8	tenure	tenure	NOUN
fsr-3798	223	9	chances	chance	NOUN
fsr-3798	223	10	and	and	CCONJ
fsr-3798	223	11	fund	fund	NOUN
fsr-3798	223	12	sur	sur	PROPN
fsr-3798	223	13	vival	vival	NOUN
fsr-3798	223	14	rates	rate	NOUN
fsr-3798	223	15	by	by	ADP
fsr-3798	223	16	reducing	reduce	VERB
fsr-3798	223	17	all	all	DET
fsr-3798	223	18	types	type	NOUN
fsr-3798	223	19	of	of	ADP
fsr-3798	223	20	expenses	expense	NOUN
fsr-3798	223	21	.	.	PUNCT
fsr-3798	224	1	mcgough	mcgough	NOUN
fsr-3798	224	2	(	(	PUNCT
fsr-3798	224	3	1993a	1993a	NUM
fsr-3798	224	4	)	)	PUNCT
fsr-3798	224	5	reports	report	VERB
fsr-3798	224	6	that	that	SCONJ
fsr-3798	224	7	older	old	ADJ
fsr-3798	224	8	,	,	PUNCT
fsr-3798	224	9	tenured	tenure	VERB
fsr-3798	224	10	fund	fund	NOUN
fsr-3798	224	11	managers	manager	NOUN
fsr-3798	224	12	have	have	VERB
fsr-3798	224	13	reputations	reputation	NOUN
fsr-3798	224	14	for	for	ADP
fsr-3798	224	15	keeping	keep	VERB
fsr-3798	224	16	expenses	expense	NOUN
fsr-3798	224	17	low	low	ADJ
fsr-3798	224	18	.	.	PUNCT
fsr-3798	225	1	similarly	similarly	ADV
fsr-3798	225	2	,	,	PUNCT
fsr-3798	225	3	mbas	mbas	PROPN
fsr-3798	225	4	are	be	AUX
fsr-3798	225	5	often	often	ADV
fsr-3798	225	6	taught	teach	VERB
fsr-3798	225	7	in	in	ADP
fsr-3798	225	8	investments	investment	NOUN
fsr-3798	225	9	classes	class	NOUN
fsr-3798	225	10	that	that	SCONJ
fsr-3798	225	11	costs	cost	NOUN
fsr-3798	225	12	should	should	AUX
fsr-3798	225	13	be	be	AUX
fsr-3798	225	14	kept	keep	VERB
fsr-3798	225	15	low	low	ADJ
fsr-3798	225	16	to	to	PART
fsr-3798	225	17	boost	boost	VERB
fsr-3798	225	18	performance	performance	NOUN
fsr-3798	225	19	.	.	PUNCT
fsr-3798	226	1	on	on	ADP
fsr-3798	226	2	the	the	DET
fsr-3798	226	3	other	other	ADJ
fsr-3798	226	4	hand	hand	NOUN
fsr-3798	226	5	,	,	PUNCT
fsr-3798	226	6	human	human	ADJ
fsr-3798	226	7	capital	capital	NOUN
fsr-3798	226	8	theory	theory	NOUN
fsr-3798	226	9	suggests	suggest	VERB
fsr-3798	226	10	that	that	SCONJ
fsr-3798	226	11	management	management	NOUN
fsr-3798	226	12	fees	fee	NOUN
fsr-3798	226	13	should	should	AUX
fsr-3798	226	14	be	be	AUX
fsr-3798	226	15	positively	positively	ADV
fsr-3798	226	16	related	relate	VERB
fsr-3798	226	17	to	to	ADP
fsr-3798	226	18	age	age	NOUN
fsr-3798	226	19	and	and	CCONJ
fsr-3798	226	20	tenure	tenure	NOUN
fsr-3798	226	21	because	because	SCONJ
fsr-3798	226	22	age	age	NOUN
fsr-3798	226	23	and	and	CCONJ
fsr-3798	226	24	tenure	tenure	NOUN
fsr-3798	226	25	are	be	AUX
fsr-3798	226	26	measures	measure	NOUN
fsr-3798	226	27	of	of	ADP
fsr-3798	226	28	human	human	ADJ
fsr-3798	226	29	capital	capital	NOUN
fsr-3798	226	30	.	.	PUNCT
fsr-3798	227	1	table	table	NOUN
fsr-3798	227	2	4	4	NUM
fsr-3798	227	3	reports	report	VERB
fsr-3798	227	4	the	the	DET
fsr-3798	227	5	regression	regression	NOUN
fsr-3798	227	6	results	result	VERB
fsr-3798	227	7	for	for	ADP
fsr-3798	227	8	expense	expense	NOUN
fsr-3798	227	9	ratio	ratio	NOUN
fsr-3798	227	10	,	,	PUNCT
fsr-3798	227	11	management	management	NOUN
fsr-3798	227	12	fee	fee	NOUN
fsr-3798	227	13	,	,	PUNCT
fsr-3798	227	14	and	and	CCONJ
fsr-3798	227	15	turnover	turnover	NOUN
fsr-3798	227	16	.	.	PUNCT
fsr-3798	228	1	as	as	SCONJ
fsr-3798	228	2	expected	expect	VERB
fsr-3798	228	3	,	,	PUNCT
fsr-3798	228	4	manager	manager	NOUN
fsr-3798	228	5	age	age	NOUN
fsr-3798	228	6	is	be	AUX
fsr-3798	228	7	significantly	significantly	ADV
fsr-3798	228	8	negatively	negatively	ADV
fsr-3798	228	9	related	relate	VERB
fsr-3798	228	10	to	to	ADP
fsr-3798	228	11	turnover	turnover	NOUN
fsr-3798	228	12	but	but	CCONJ
fsr-3798	228	13	is	be	AUX
fsr-3798	228	14	not	not	PART
fsr-3798	228	15	signifi	signifi	NOUN
fsr-3798	228	16	cantly	cantly	ADV
fsr-3798	228	17	related	relate	VERB
fsr-3798	228	18	to	to	ADP
fsr-3798	228	19	either	either	CCONJ
fsr-3798	228	20	expense	expense	NOUN
fsr-3798	228	21	ratio	ratio	NOUN
fsr-3798	228	22	or	or	CCONJ
fsr-3798	228	23	management	management	NOUN
fsr-3798	228	24	fee	fee	NOUN
fsr-3798	228	25	.	.	PUNCT
fsr-3798	229	1	also	also	ADV
fsr-3798	229	2	as	as	SCONJ
fsr-3798	229	3	expected	expect	VERB
fsr-3798	229	4	,	,	PUNCT
fsr-3798	229	5	tenure	tenure	NOUN
fsr-3798	229	6	is	be	AUX
fsr-3798	229	7	signif	signif	VERB
fsr-3798	229	8	icantly	icantly	ADV
fsr-3798	229	9	negatively	negatively	ADV
fsr-3798	229	10	related	relate	VERB
fsr-3798	229	11	to	to	ADP
fsr-3798	229	12	expense	expense	NOUN
fsr-3798	229	13	ratio	ratio	NOUN
fsr-3798	229	14	but	but	CCONJ
fsr-3798	229	15	not	not	PART
fsr-3798	229	16	significantly	significantly	ADV
fsr-3798	229	17	related	relate	VERB
fsr-3798	229	18	to	to	ADP
fsr-3798	229	19	management	management	NOUN
fsr-3798	229	20	fee	fee	NOUN
fsr-3798	229	21	or	or	CCONJ
fsr-3798	229	22	turnover	turnover	NOUN
fsr-3798	229	23	.	.	PUNCT
fsr-3798	230	1	mba	mba	NOUN
fsr-3798	230	2	is	be	AUX
fsr-3798	230	3	negatively	negatively	ADV
fsr-3798	230	4	related	relate	VERB
fsr-3798	230	5	to	to	ADP
fsr-3798	230	6	all	all	DET
fsr-3798	230	7	three	three	NUM
fsr-3798	230	8	fee	fee	NOUN
fsr-3798	230	9	variables	variable	NOUN
fsr-3798	230	10	as	as	SCONJ
fsr-3798	230	11	predicted	predict	VERB
fsr-3798	230	12	,	,	PUNCT
fsr-3798	230	13	although	although	SCONJ
fsr-3798	230	14	only	only	ADV
fsr-3798	230	15	the	the	DET
fsr-3798	230	16	management	management	NOUN
fsr-3798	230	17	fee	fee	NOUN
fsr-3798	230	18	coefficient	coefficient	NOUN
fsr-3798	230	19	is	be	AUX
fsr-3798	230	20	significant	significant	ADJ
fsr-3798	230	21	.	.	PUNCT
fsr-3798	231	1	this	this	PRON
fsr-3798	231	2	means	mean	VERB
fsr-3798	231	3	that	that	SCONJ
fsr-3798	231	4	fund	fund	NOUN
fsr-3798	231	5	managers	manager	NOUN
fsr-3798	231	6	with	with	ADP
fsr-3798	231	7	mbas	mbas	NOUN
fsr-3798	231	8	may	may	AUX
fsr-3798	231	9	accept	accept	VERB
fsr-3798	231	10	lower	low	ADJ
fsr-3798	231	11	compensation	compensation	NOUN
fsr-3798	231	12	,	,	PUNCT
fsr-3798	231	13	perhaps	perhaps	ADV
fsr-3798	231	14	reflecting	reflect	VERB
fsr-3798	231	15	strong	strong	ADJ
fsr-3798	231	16	competition	competition	NOUN
fsr-3798	231	17	among	among	ADP
fsr-3798	231	18	mbas	mbas	NOUN
fsr-3798	231	19	for	for	ADP
fsr-3798	231	20	fund	fund	NOUN
fsr-3798	231	21	manager	manager	NOUN
fsr-3798	231	22	positions	position	NOUN
fsr-3798	231	23	.	.	PUNCT
fsr-3798	232	1	the	the	DET
fsr-3798	232	2	corresponding	corresponding	ADJ
fsr-3798	232	3	reduced	reduce	VERB
fsr-3798	232	4	form	form	NOUN
fsr-3798	232	5	mba	mba	NOUN
fsr-3798	232	6	coefficient	coefficient	NOUN
fsr-3798	232	7	is	be	AUX
fsr-3798	232	8	larger	large	ADJ
fsr-3798	232	9	than	than	ADP
fsr-3798	232	10	the	the	DET
fsr-3798	232	11	3sls	3sls	PROPN
fsr-3798	232	12	structural	structural	ADJ
fsr-3798	232	13	coefficient	coefficient	NOUN
fsr-3798	232	14	due	due	ADP
fsr-3798	232	15	to	to	ADP
fsr-3798	232	16	the	the	DET
fsr-3798	232	17	indirect	indirect	ADJ
fsr-3798	232	18	impact	impact	NOUN
fsr-3798	232	19	on	on	ADP
fsr-3798	232	20	management	management	NOUN
fsr-3798	232	21	fees	fee	NOUN
fsr-3798	232	22	through	through	ADP
fsr-3798	232	23	beta	beta	NOUN
fsr-3798	232	24	;	;	PUNCT
fsr-3798	232	25	that	that	PRON
fsr-3798	232	26	is	is	ADV
fsr-3798	232	27	,	,	PUNCT
fsr-3798	232	28	mbas	mbas	PROPN
fsr-3798	232	29	choose	choose	VERB
fsr-3798	232	30	larger	large	ADJ
fsr-3798	232	31	portfolio	portfolio	NOUN
fsr-3798	232	32	betas	beta	NOUN
fsr-3798	232	33	on	on	ADP
fsr-3798	232	34	average	average	ADJ
fsr-3798	232	35	and	and	CCONJ
fsr-3798	232	36	are	be	AUX
fsr-3798	232	37	compensated	compensate	VERB
fsr-3798	232	38	for	for	ADP
fsr-3798	232	39	bear	bear	NOUN
fsr-3798	232	40	ing	e	VERB
fsr-3798	232	41	the	the	DET
fsr-3798	232	42	additional	additional	ADJ
fsr-3798	232	43	risk	risk	NOUN
fsr-3798	232	44	.	.	PUNCT
fsr-3798	233	1	a	a	DET
fsr-3798	233	2	larger	large	ADJ
fsr-3798	233	3	team	team	NOUN
fsr-3798	233	4	size	size	NOUN
fsr-3798	233	5	means	mean	VERB
fsr-3798	233	6	more	more	ADJ
fsr-3798	233	7	salaries	salary	NOUN
fsr-3798	233	8	,	,	PUNCT
fsr-3798	233	9	expenses	expense	NOUN
fsr-3798	233	10	and	and	CCONJ
fsr-3798	233	11	turnover	turnover	NOUN
fsr-3798	233	12	;	;	PUNCT
fsr-3798	233	13	therefore	therefore	ADV
fsr-3798	233	14	,	,	PUNCT
fsr-3798	233	15	team	team	NOUN
fsr-3798	233	16	should	should	AUX
fsr-3798	233	17	be	be	AUX
fsr-3798	233	18	positively	positively	ADV
fsr-3798	233	19	related	relate	VERB
fsr-3798	233	20	to	to	ADP
fsr-3798	233	21	all	all	DET
fsr-3798	233	22	the	the	DET
fsr-3798	233	23	fee	fee	NOUN
fsr-3798	233	24	variables	variable	NOUN
fsr-3798	233	25	.	.	PUNCT
fsr-3798	234	1	results	result	NOUN
fsr-3798	234	2	show	show	VERB
fsr-3798	234	3	team	team	NOUN
fsr-3798	234	4	size	size	NOUN
fsr-3798	234	5	is	be	AUX
fsr-3798	234	6	significantly	significantly	ADV
fsr-3798	234	7	positively	positively	ADV
fsr-3798	234	8	related	relate	VERB
fsr-3798	234	9	to	to	ADP
fsr-3798	234	10	management	management	NOUN
fsr-3798	234	11	fee	fee	NOUN
fsr-3798	234	12	as	as	SCONJ
fsr-3798	234	13	expected	expect	VERB
fsr-3798	234	14	,	,	PUNCT
fsr-3798	234	15	but	but	CCONJ
fsr-3798	234	16	the	the	DET
fsr-3798	234	17	other	other	ADJ
fsr-3798	234	18	two	two	NUM
fsr-3798	234	19	coefficients	coefficient	NOUN
fsr-3798	234	20	are	be	AUX
fsr-3798	234	21	insignificant	insignificant	ADJ
fsr-3798	234	22	.	.	PUNCT
fsr-3798	235	1	older	old	ADJ
fsr-3798	235	2	funds	fund	NOUN
fsr-3798	235	3	may	may	AUX
fsr-3798	235	4	purposely	purposely	ADV
fsr-3798	235	5	chose	choose	VERB
fsr-3798	235	6	low	low	ADJ
fsr-3798	235	7	fees	fee	NOUN
fsr-3798	235	8	as	as	ADP
fsr-3798	235	9	a	a	DET
fsr-3798	235	10	means	means	NOUN
fsr-3798	235	11	to	to	PART
fsr-3798	235	12	survive	survive	VERB
fsr-3798	235	13	.	.	PUNCT
fsr-3798	236	1	for	for	ADP
fsr-3798	236	2	example	example	NOUN
fsr-3798	236	3	,	,	PUNCT
fsr-3798	236	4	the	the	DET
fsr-3798	236	5	established	establish	VERB
fsr-3798	236	6	vanguard	vanguard	NOUN
fsr-3798	236	7	funds	fund	NOUN
fsr-3798	236	8	have	have	AUX
fsr-3798	236	9	been	be	AUX
fsr-3798	236	10	successful	successful	ADJ
fsr-3798	236	11	by	by	ADP
fsr-3798	236	12	touting	tout	VERB
fsr-3798	236	13	their	their	PRON
fsr-3798	236	14	low	low	ADJ
fsr-3798	236	15	costs	cost	NOUN
fsr-3798	236	16	.	.	PUNCT
fsr-3798	237	1	indeed	indeed	ADV
fsr-3798	237	2	,	,	PUNCT
fsr-3798	237	3	table	table	NOUN
fsr-3798	237	4	144	144	NUM
fsr-3798	237	5	financial	financial	ADJ
fsr-3798	237	6	services	service	NOUN
fsr-3798	237	7	review	review	NOUN
fsr-3798	237	8	s(2	s(2	NOUN
fsr-3798	237	9	)	)	PUNCT
fsr-3798	237	10	1996	1996	NUM
fsr-3798	237	11	table	table	NOUN
fsr-3798	237	12	4	4	NUM
fsr-3798	237	13	expense	expense	NOUN
fsr-3798	237	14	ratio	ratio	NOUN
fsr-3798	237	15	,	,	PUNCT
fsr-3798	237	16	management	management	NOUN
fsr-3798	237	17	fee	fee	NOUN
fsr-3798	237	18	and	and	CCONJ
fsr-3798	237	19	portfolio	portfolio	NOUN
fsr-3798	237	20	turnover	turnover	NOUN
fsr-3798	237	21	3sls	3sls	PRON
fsr-3798	237	22	structural	structural	ADJ
fsr-3798	237	23	and	and	CCONJ
fsr-3798	237	24	reduced	reduced	ADJ
fsr-3798	237	25	form	form	NOUN
fsr-3798	237	26	regressions	regression	NOUN
fsr-3798	237	27	expense	expense	NOUN
fsr-3798	237	28	ratio	ratio	NOUN
fsr-3798	237	29	management	management	NOUN
fsr-3798	237	30	fee	fee	NOUN
fsr-3798	237	31	portfolio	portfolio	NOUN
fsr-3798	237	32	turnover	turnover	NOUN
fsr-3798	237	33	regressions	regression	NOUN
fsr-3798	237	34	regressions	regression	NOUN
fsr-3798	237	35	regressions	regression	NOUN
fsr-3798	237	36	structural	structural	ADJ
fsr-3798	237	37	reduced	reduce	VERB
fsr-3798	237	38	strucrural	strucrural	ADJ
fsr-3798	237	39	reduced	reduce	VERB
fsr-3798	237	40	srructural	srructural	ADJ
fsr-3798	237	41	reduced	reduced	ADJ
fsr-3798	237	42	endogenous	endogenous	ADJ
fsr-3798	237	43	variables	variable	NOUN
fsr-3798	237	44	intercept	intercept	VERB
fsr-3798	237	45	yield	yield	NOUN
fsr-3798	237	46	(	(	PUNCT
fsr-3798	237	47	%	%	INTJ
fsr-3798	237	48	)	)	PUNCT
fsr-3798	237	49	alpha	alpha	NOUN
fsr-3798	237	50	(	(	PUNCT
fsr-3798	237	51	%	%	INTJ
fsr-3798	237	52	)	)	PUNCT
fsr-3798	237	53	beta	beta	PROPN
fsr-3798	237	54	residual	residual	ADJ
fsr-3798	237	55	st	st	PROPN
fsr-3798	237	56	.	.	PROPN
fsr-3798	237	57	dev	dev	PROPN
fsr-3798	237	58	.	.	PUNCT
fsr-3798	238	1	(	(	PUNCT
fsr-3798	238	2	%	%	INTJ
fsr-3798	238	3	)	)	PUNCT
fsr-3798	238	4	a	a	DET
fsr-3798	238	5	expense	expense	NOUN
fsr-3798	238	6	ratio	ratio	NOUN
fsr-3798	238	7	(	(	PUNCT
fsr-3798	238	8	%	%	INTJ
fsr-3798	238	9	)	)	PUNCT
fsr-3798	238	10	management	management	NOUN
fsr-3798	238	11	fee	fee	NOUN
fsr-3798	238	12	(	(	PUNCT
fsr-3798	238	13	%	%	INTJ
fsr-3798	238	14	)	)	PUNCT
fsr-3798	238	15	turnoverb	turnoverb	NOUN
fsr-3798	238	16	(	(	PUNCT
fsr-3798	238	17	%	%	INTJ
fsr-3798	238	18	)	)	PUNCT
fsr-3798	238	19	2.607	2.607	NUM
fsr-3798	238	20	*	*	SYM
fsr-3798	238	21	2.600	2.600	NUM
fsr-3798	238	22	*	*	PUNCT
fsr-3798	238	23	-0.046	-0.046	VERB
fsr-3798	238	24	exogenous	exogenous	ADJ
fsr-3798	238	25	variables	variable	NOUN
fsr-3798	238	26	manager	manager	NOUN
fsr-3798	238	27	age	age	NOUN
fsr-3798	238	28	(	(	PUNCT
fsr-3798	238	29	years	year	NOUN
fsr-3798	238	30	)	)	PUNCT
fsr-3798	238	31	tenure	tenure	NOUN
fsr-3798	238	32	(	(	PUNCT
fsr-3798	238	33	years	year	NOUN
fsr-3798	238	34	)	)	PUNCT
fsr-3798	238	35	years	year	NOUN
fsr-3798	238	36	of	of	ADP
fsr-3798	238	37	education	education	NOUN
fsr-3798	238	38	mba	mba	NOUN
fsr-3798	238	39	degree	degree	NOUN
fsr-3798	238	40	team	team	NOUN
fsr-3798	238	41	size	size	NOUN
fsr-3798	238	42	fund	fund	NOUN
fsr-3798	238	43	age	age	NOUN
fsr-3798	238	44	(	(	PUNCT
fsr-3798	238	45	years	year	NOUN
fsr-3798	238	46	)	)	PUNCT
fsr-3798	238	47	fund	fund	NOUN
fsr-3798	238	48	asset	asset	NOUN
fsr-3798	238	49	?	?	PUNCT
fsr-3798	239	1	(	(	PUNCT
fsr-3798	239	2	millions	million	NOUN
fsr-3798	239	3	)	)	PUNCT
fsr-3798	239	4	load	load	NOUN
fsr-3798	239	5	(	(	PUNCT
fsr-3798	239	6	%	%	INTJ
fsr-3798	239	7	)	)	PUNCT
fsr-3798	239	8	xwo4	xwo4	PROPN
fsr-3798	239	9	-0.011	-0.011	PRON
fsr-3798	239	10	*	*	X
fsr-3798	239	11	*	*	PUNCT
fsr-3798	239	12	4.081	4.081	NUM
fsr-3798	239	13	*	*	PUNCT
fsr-3798	239	14	*	*	PUNCT
fsr-3798	239	15	a.054	a.054	ADP
fsr-3798	239	16	a.018	a.018	NOUN
fsr-3798	239	17	-0.010	-0.010	X
fsr-3798	239	18	*	*	PUNCT
fsr-3798	239	19	-0.108	-0.108	PROPN
fsr-3798	239	20	*	*	SYM
fsr-3798	239	21	0.005	0.005	NUM
fsr-3798	239	22	a.004	a.004	NUM
fsr-3798	239	23	-0.011	-0.011	NOUN
fsr-3798	239	24	*	*	PUNCT
fsr-3798	239	25	*	*	PUNCT
fsr-3798	239	26	-0.081	-0.081	PROPN
fsr-3798	239	27	*	*	PUNCT
fsr-3798	239	28	*	*	PUNCT
fsr-3798	239	29	xl.054	xl.054	PROPN
fsr-3798	239	30	a.018	a.018	NOUN
fsr-3798	239	31	-0.010	-0.010	X
fsr-3798	239	32	*	*	PUNCT
fsr-3798	239	33	-0.108	-0.108	PROPN
fsr-3798	239	34	*	*	SYM
fsr-3798	239	35	0.005	0.005	NUM
fsr-3798	239	36	fund	fund	NOUN
fsr-3798	239	37	objectives	objective	NOUN
fsr-3798	239	38	growth	growth	VERB
fsr-3798	239	39	aggressive	aggressive	ADJ
fsr-3798	239	40	growth	growth	NOUN
fsr-3798	239	41	growth	growth	NOUN
fsr-3798	239	42	and	and	CCONJ
fsr-3798	239	43	income	income	VERB
fsr-3798	239	44	small	small	ADJ
fsr-3798	239	45	stock	stock	NOUN
fsr-3798	239	46	special	special	ADJ
fsr-3798	239	47	balanced	balanced	ADJ
fsr-3798	239	48	asset	asset	NOUN
fsr-3798	239	49	allocation	allocation	NOUN
fsr-3798	239	50	option	option	NOUN
fsr-3798	239	51	equity	equity	NOUN
fsr-3798	239	52	international	international	ADJ
fsr-3798	239	53	0.748	0.748	NUM
fsr-3798	239	54	*	*	SYM
fsr-3798	239	55	0.027	0.027	NUM
fsr-3798	239	56	-0.056	-0.056	NUM
fsr-3798	239	57	0.243	0.243	NUM
fsr-3798	239	58	*	*	SYM
fsr-3798	239	59	0.09	0.09	NUM
fsr-3798	239	60	1	1	NUM
fsr-3798	239	61	-0.109	-0.109	NUM
fsr-3798	239	62	a.037	a.037	VERB
fsr-3798	239	63	0.235	0.235	NUM
fsr-3798	239	64	*	*	NOUN
fsr-3798	239	65	0.746	0.746	NUM
fsr-3798	239	66	*	*	NOUN
fsr-3798	239	67	0.027	0.027	NUM
fsr-3798	239	68	a.057	a.057	NOUN
fsr-3798	239	69	0.24	0.24	NUM
fsr-3798	239	70	1	1	NUM
fsr-3798	239	71	*	*	SYM
fsr-3798	239	72	0.091	0.091	NUM
fsr-3798	239	73	-0.110	-0.110	PROPN
fsr-3798	239	74	0.043	0.043	NUM
fsr-3798	239	75	0.236	0.236	NUM
fsr-3798	239	76	*	*	PUNCT
fsr-3798	239	77	r	r	X
fsr-3798	239	78	-	-	PUNCT
fsr-3798	239	79	squared	square	VERB
fsr-3798	239	80	0.19	0.19	NUM
fsr-3798	239	81	0.19	0.19	NUM
fsr-3798	239	82	4.044	4.044	NUM
fsr-3798	239	83	0.122	0.122	NUM
fsr-3798	239	84	*	*	PUNCT
fsr-3798	239	85	*	*	PUNCT
fsr-3798	239	86	2.765	2.765	NUM
fsr-3798	239	87	*	*	NOUN
fsr-3798	239	88	0.265	0.265	NUM
fsr-3798	239	89	0.001	0.001	NUM
fsr-3798	239	90	0.001	0.001	NUM
fsr-3798	239	91	0.030	0.030	NUM
fsr-3798	239	92	*	*	PUNCT
fsr-3798	239	93	-0.062	-0.062	X
fsr-3798	239	94	*	*	PUNCT
fsr-3798	239	95	0.041	0.041	NUM
fsr-3798	239	96	*	*	PUNCT
fsr-3798	239	97	xnlo3	xnlo3	PROPN
fsr-3798	239	98	*	*	X
fsr-3798	240	1	4.034	4.034	NUM
fsr-3798	240	2	*	*	PUNCT
fsr-3798	240	3	-0.010	-0.010	X
fsr-3798	240	4	*	*	PUNCT
fsr-3798	240	5	x).141	x).141	NOUN
fsr-3798	240	6	*	*	NOUN
fsr-3798	240	7	a.020	a.020	NOUN
fsr-3798	240	8	x).130	x).130	PROPN
fsr-3798	240	9	*	*	X
fsr-3798	240	10	x).131	x).131	PROPN
fsr-3798	240	11	*	*	PROPN
fsr-3798	240	12	0.005	0.005	NUM
fsr-3798	240	13	0.135	0.135	NUM
fsr-3798	240	14	0.122	0.122	NUM
fsr-3798	240	15	-0.090	-0.090	NUM
fsr-3798	240	16	0.19	0.19	NUM
fsr-3798	240	17	0.281	0.281	NUM
fsr-3798	240	18	167.2	167.2	NUM
fsr-3798	240	19	*	*	SYM
fsr-3798	240	20	167.2	167.2	NUM
fsr-3798	240	21	*	*	SYM
fsr-3798	240	22	*	*	PROPN
fsr-3798	240	23	0.001	0.001	NUM
fsr-3798	240	24	xwol	xwol	NOUN
fsr-3798	240	25	0.030	0.030	NUM
fsr-3798	240	26	*	*	NOUN
fsr-3798	240	27	4.057	4.057	NUM
fsr-3798	240	28	*	*	SYM
fsr-3798	240	29	0.045	0.045	NUM
fsr-3798	240	30	*	*	PUNCT
fsr-3798	240	31	xnlo3	xnlo3	PROPN
fsr-3798	240	32	*	*	X
fsr-3798	240	33	x).043	x).043	PROPN
fsr-3798	240	34	*	*	PUNCT
fsr-3798	240	35	-0.010	-0.010	PROPN
fsr-3798	240	36	*	*	NOUN
fsr-3798	240	37	-1.2428	-1.2428	NOUN
fsr-3798	240	38	a.493	a.493	NUM
fsr-3798	240	39	-10.66	-10.66	NUM
fsr-3798	240	40	0.675	0.675	NUM
fsr-3798	240	41	4).578	4).578	NOUN
fsr-3798	240	42	*	*	SYM
fsr-3798	240	43	-1.760	-1.760	PUNCT
fsr-3798	240	44	-1.940	-1.940	NOUN
fsr-3798	240	45	-1.242	-1.242	NOUN
fsr-3798	240	46	*	*	SYM
fsr-3798	240	47	-0.493	-0.493	NUM
fsr-3798	240	48	0.000	0.000	NUM
fsr-3798	240	49	-10.67	-10.67	ADP
fsr-3798	240	50	0.675	0.675	NUM
fsr-3798	240	51	x).578	x).578	NUM
fsr-3798	240	52	*	*	SYM
fsr-3798	240	53	-1.756	-1.756	PUNCT
fsr-3798	240	54	-1.940	-1.940	NUM
fsr-3798	240	55	0.004	0.004	NUM
fsr-3798	240	56	4x091	4x091	NUM
fsr-3798	240	57	*	*	PUNCT
fsr-3798	240	58	x).019	x).019	NOUN
fsr-3798	240	59	*	*	ADJ
fsr-3798	240	60	a.028	a.028	ADJ
fsr-3798	240	61	a.1	a.1	X
fsr-3798	240	62	lo	lo	PROPN
fsr-3798	240	63	*	*	PROPN
fsr-3798	240	64	0.007	0.007	NUM
fsr-3798	240	65	0.044	0.044	NUM
fsr-3798	240	66	0.038	0.038	NUM
fsr-3798	240	67	62.79	62.79	NUM
fsr-3798	240	68	*	*	SYM
fsr-3798	240	69	’	'	PUNCT
fsr-3798	240	70	62.80	62.80	NUM
fsr-3798	240	71	*	*	SYM
fsr-3798	240	72	-6.464	-6.464	ADP
fsr-3798	240	73	-6.464	-6.464	ADP
fsr-3798	240	74	6.925	6.925	NUM
fsr-3798	240	75	6.925	6.925	NUM
fsr-3798	240	76	33.84	33.84	NUM
fsr-3798	240	77	*	*	PUNCT
fsr-3798	240	78	33.84	33.84	NUM
fsr-3798	240	79	*	*	NOUN
fsr-3798	241	1	6.311	6.311	NUM
fsr-3798	241	2	6.311	6.311	NUM
fsr-3798	241	3	0.178	0.178	NUM
fsr-3798	241	4	0.178	0.178	NUM
fsr-3798	241	5	-1.270	-1.270	PUNCT
fsr-3798	241	6	-1.271	-1.271	PUNCT
fsr-3798	241	7	-12.24	-12.24	PROPN
fsr-3798	241	8	-12.24	-12.24	PROPN
fsr-3798	241	9	0.21	0.21	NUM
fsr-3798	241	10	0.11	0.11	NUM
fsr-3798	241	11	0.11	0.11	NUM
fsr-3798	241	12	nom	nom	PROPN
fsr-3798	241	13	:	:	PUNCT
fsr-3798	241	14	a	a	DET
fsr-3798	241	15	cb)divide	cb)divide	NOUN
fsr-3798	241	16	coefficients	coefficient	NOUN
fsr-3798	241	17	by	by	ADP
fsr-3798	241	18	100	100	NUM
fsr-3798	241	19	(	(	PUNCT
fsr-3798	241	20	iwj	iwj	NOUN
fsr-3798	241	21	)	)	PUNCT
fsr-3798	241	22	.	.	PUNCT
fsr-3798	242	1	*	*	PUNCT
fsr-3798	242	2	(	(	PUNCT
fsr-3798	242	3	*	*	PUNCT
fsr-3798	242	4	*	*	NOUN
fsr-3798	242	5	)	)	PUNCT
fsr-3798	242	6	significant	significant	ADJ
fsr-3798	242	7	at	at	ADP
fsr-3798	242	8	least	least	ADJ
fsr-3798	242	9	at	at	ADP
fsr-3798	242	10	the	the	DET
fsr-3798	242	11	5	5	NUM
fsr-3798	242	12	(	(	PUNCT
fsr-3798	242	13	io	io	NOUN
fsr-3798	242	14	)	)	PUNCT
fsr-3798	242	15	percent	percent	NOUN
fsr-3798	242	16	level	level	NOUN
fsr-3798	242	17	using	use	VERB
fsr-3798	242	18	a	a	DET
fsr-3798	242	19	twwtailed	twwtaile	VERB
fsr-3798	242	20	test	test	NOUN
fsr-3798	242	21	4	4	NUM
fsr-3798	242	22	shows	show	VERB
fsr-3798	242	23	that	that	SCONJ
fsr-3798	242	24	fund	fund	NOUN
fsr-3798	242	25	age	age	NOUN
fsr-3798	242	26	is	be	AUX
fsr-3798	242	27	significantly	significantly	ADV
fsr-3798	242	28	negatively	negatively	ADV
fsr-3798	242	29	related	relate	VERB
fsr-3798	242	30	to	to	ADP
fsr-3798	242	31	expense	expense	NOUN
fsr-3798	242	32	ratio	ratio	NOUN
fsr-3798	242	33	,	,	PUNCT
fsr-3798	242	34	management	management	NOUN
fsr-3798	242	35	fee	fee	NOUN
fsr-3798	242	36	,	,	PUNCT
fsr-3798	242	37	and	and	CCONJ
fsr-3798	242	38	turnover	turnover	NOUN
fsr-3798	242	39	.	.	PUNCT
fsr-3798	243	1	scale	scale	NOUN
fsr-3798	243	2	economies	economy	NOUN
fsr-3798	243	3	should	should	AUX
fsr-3798	243	4	produce	produce	VERB
fsr-3798	243	5	a	a	DET
fsr-3798	243	6	negative	negative	ADJ
fsr-3798	243	7	relationship	relationship	NOUN
fsr-3798	243	8	between	between	ADP
fsr-3798	243	9	the	the	DET
fsr-3798	243	10	fees	fee	NOUN
fsr-3798	243	11	and	and	CCONJ
fsr-3798	243	12	assets	asset	NOUN
fsr-3798	243	13	.	.	PUNCT
fsr-3798	244	1	as	as	SCONJ
fsr-3798	244	2	expected	expect	VERB
fsr-3798	244	3	,	,	PUNCT
fsr-3798	244	4	results	result	NOUN
fsr-3798	244	5	show	show	VERB
fsr-3798	244	6	that	that	SCONJ
fsr-3798	244	7	assets	asset	NOUN
fsr-3798	244	8	are	be	AUX
fsr-3798	244	9	negatively	negatively	ADV
fsr-3798	244	10	related	relate	VERB
fsr-3798	244	11	to	to	ADP
fsr-3798	244	12	all	all	DET
fsr-3798	244	13	three	three	NUM
fsr-3798	244	14	fee	fee	NOUN
fsr-3798	244	15	types	type	NOUN
fsr-3798	244	16	,	,	PUNCT
fsr-3798	244	17	although	although	SCONJ
fsr-3798	244	18	the	the	DET
fsr-3798	244	19	turnover	turnover	NOUN
fsr-3798	244	20	coefficient	coefficient	NOUN
fsr-3798	244	21	is	be	AUX
fsr-3798	244	22	statistically	statistically	ADV
fsr-3798	244	23	insignificant	insignificant	ADJ
fsr-3798	244	24	.	.	PUNCT
fsr-3798	245	1	this	this	PRON
fsr-3798	245	2	means	mean	VERB
fsr-3798	245	3	that	that	SCONJ
fsr-3798	245	4	funds	fund	NOUN
fsr-3798	245	5	tend	tend	VERB
fsr-3798	245	6	to	to	PART
fsr-3798	245	7	charge	charge	VERB
fsr-3798	245	8	smaller	small	ADJ
fsr-3798	245	9	fees	fee	NOUN
fsr-3798	245	10	as	as	SCONJ
fsr-3798	245	11	they	they	PRON
fsr-3798	245	12	grow	grow	VERB
fsr-3798	245	13	in	in	ADP
fsr-3798	245	14	size	size	NOUN
fsr-3798	245	15	,	,	PUNCT
fsr-3798	245	16	spreading	spread	VERB
fsr-3798	245	17	costs	cost	NOUN
fsr-3798	245	18	over	over	ADP
fsr-3798	245	19	more	more	ADJ
fsr-3798	245	20	assets	asset	NOUN
fsr-3798	245	21	.	.	PUNCT
fsr-3798	246	1	because	because	SCONJ
fsr-3798	246	2	fund	fund	NOUN
fsr-3798	246	3	load	load	NOUN
fsr-3798	246	4	is	be	AUX
fsr-3798	246	5	an	an	DET
fsr-3798	246	6	extra	extra	ADJ
fsr-3798	246	7	marketing	marketing	NOUN
fsr-3798	246	8	expense	expense	NOUN
fsr-3798	246	9	,	,	PUNCT
fsr-3798	246	10	load	load	NOUN
fsr-3798	246	11	funds	fund	NOUN
fsr-3798	246	12	may	may	AUX
fsr-3798	246	13	have	have	VERB
fsr-3798	246	14	to	to	PART
fsr-3798	246	15	keep	keep	VERB
fsr-3798	246	16	other	other	ADJ
fsr-3798	246	17	fees	fee	NOUN
fsr-3798	246	18	relatively	relatively	ADV
fsr-3798	246	19	low	low	ADJ
fsr-3798	246	20	in	in	ADP
fsr-3798	246	21	order	order	NOUN
fsr-3798	246	22	to	to	PART
fsr-3798	246	23	compete	compete	VERB
fsr-3798	246	24	.	.	PUNCT
fsr-3798	247	1	in	in	ADP
fsr-3798	247	2	addition	addition	NOUN
fsr-3798	247	3	,	,	PUNCT
fsr-3798	247	4	some	some	DET
fsr-3798	247	5	no	no	DET
fsr-3798	247	6	-	-	PUNCT
fsr-3798	247	7	load	load	NOUN
fsr-3798	247	8	funds	fund	NOUN
fsr-3798	247	9	include	include	VERB
fsr-3798	247	10	12b-1	12b-1	NUM
fsr-3798	247	11	mar	mar	PROPN
fsr-3798	247	12	keting	keting	NOUN
fsr-3798	247	13	fees	fee	NOUN
fsr-3798	247	14	in	in	ADP
fsr-3798	247	15	their	their	PRON
fsr-3798	247	16	expense	expense	NOUN
fsr-3798	247	17	ratio	ratio	NOUN
fsr-3798	247	18	.	.	PUNCT
fsr-3798	248	1	thus	thus	ADV
fsr-3798	248	2	,	,	PUNCT
fsr-3798	248	3	load	load	NOUN
fsr-3798	248	4	funds	fund	NOUN
fsr-3798	248	5	may	may	AUX
fsr-3798	248	6	have	have	VERB
fsr-3798	248	7	smaller	small	ADJ
fsr-3798	248	8	expense	expense	NOUN
fsr-3798	248	9	ratios	ratio	NOUN
fsr-3798	248	10	by	by	ADP
fsr-3798	248	11	def	def	ADJ
fsr-3798	248	12	inition	inition	NOUN
fsr-3798	248	13	since	since	SCONJ
fsr-3798	248	14	their	their	PRON
fsr-3798	248	15	largest	large	ADJ
fsr-3798	248	16	marketing	marketing	NOUN
fsr-3798	248	17	expense	expense	NOUN
fsr-3798	248	18	is	be	AUX
fsr-3798	248	19	broken	break	VERB
fsr-3798	248	20	out	out	ADP
fsr-3798	248	21	separately	separately	ADV
fsr-3798	248	22	as	as	ADP
fsr-3798	248	23	a	a	DET
fsr-3798	248	24	load	load	NOUN
fsr-3798	248	25	.	.	PUNCT
fsr-3798	249	1	table	table	NOUN
fsr-3798	249	2	4	4	NUM
fsr-3798	249	3	shows	show	VERB
fsr-3798	249	4	that	that	SCONJ
fsr-3798	249	5	load	load	NOUN
fsr-3798	249	6	is	be	AUX
fsr-3798	249	7	negatively	negatively	ADV
fsr-3798	249	8	related	relate	VERB
fsr-3798	249	9	to	to	ADP
fsr-3798	249	10	management	management	NOUN
fsr-3798	249	11	fees	fee	NOUN
fsr-3798	249	12	and	and	CCONJ
fsr-3798	249	13	turnover	turnover	NOUN
fsr-3798	249	14	,	,	PUNCT
fsr-3798	249	15	although	although	SCONJ
fsr-3798	249	16	only	only	ADV
fsr-3798	249	17	the	the	DET
fsr-3798	249	18	management	management	NOUN
fsr-3798	249	19	fee	fee	NOUN
fsr-3798	249	20	coefficient	coefficient	NOUN
fsr-3798	249	21	is	be	AUX
fsr-3798	249	22	significant	significant	ADJ
fsr-3798	249	23	.	.	PUNCT
fsr-3798	250	1	apparently	apparently	ADV
fsr-3798	250	2	,	,	PUNCT
fsr-3798	250	3	load	load	NOUN
fsr-3798	250	4	funds	fund	NOUN
fsr-3798	250	5	trade	trade	VERB
fsr-3798	250	6	off	off	ADP
fsr-3798	250	7	lower	low	ADJ
fsr-3798	250	8	manage	manage	VERB
fsr-3798	250	9	ment	ment	ADJ
fsr-3798	250	10	fees	fee	NOUN
fsr-3798	250	11	for	for	ADP
fsr-3798	250	12	up	up	ADP
fsr-3798	250	13	-	-	PUNCT
fsr-3798	250	14	front	front	NOUN
fsr-3798	250	15	load	load	NOUN
fsr-3798	250	16	fees	fee	NOUN
fsr-3798	250	17	.	.	PUNCT
fsr-3798	251	1	ma&ml	ma&ml	AUX
fsr-3798	251	2	fund	fund	NOUN
fsr-3798	251	3	managers	manager	NOUN
fsr-3798	251	4	145	145	NUM
fsr-3798	251	5	some	some	PRON
fsr-3798	251	6	of	of	ADP
fsr-3798	251	7	the	the	DET
fsr-3798	251	8	fund	fund	NOUN
fsr-3798	251	9	objective	objective	ADJ
fsr-3798	251	10	coefficients	coefficient	NOUN
fsr-3798	251	11	are	be	AUX
fsr-3798	251	12	significant	significant	ADJ
fsr-3798	251	13	and	and	CCONJ
fsr-3798	251	14	have	have	VERB
fsr-3798	251	15	intuitively	intuitively	ADV
fsr-3798	251	16	appealing	appealing	ADJ
fsr-3798	251	17	signs	sign	NOUN
fsr-3798	251	18	.	.	PUNCT
fsr-3798	252	1	for	for	ADP
fsr-3798	252	2	example	example	NOUN
fsr-3798	252	3	,	,	PUNCT
fsr-3798	252	4	aggressive	aggressive	ADJ
fsr-3798	252	5	growth	growth	NOUN
fsr-3798	252	6	funds	fund	NOUN
fsr-3798	252	7	’	'	PUNCT
fsr-3798	252	8	annual	annual	ADJ
fsr-3798	252	9	turnover	turnover	NOUN
fsr-3798	252	10	rate	rate	NOUN
fsr-3798	252	11	is	be	AUX
fsr-3798	252	12	62.8	62.8	NUM
fsr-3798	252	13	percentage	percentage	NOUN
fsr-3798	252	14	points	point	NOUN
fsr-3798	252	15	greater	great	ADJ
fsr-3798	252	16	than	than	ADP
fsr-3798	252	17	that	that	PRON
fsr-3798	252	18	of	of	ADP
fsr-3798	252	19	ordinary	ordinary	ADJ
fsr-3798	252	20	growth	growth	NOUN
fsr-3798	252	21	funds	fund	NOUN
fsr-3798	252	22	.	.	PUNCT
fsr-3798	253	1	most	most	ADJ
fsr-3798	253	2	fees	fee	NOUN
fsr-3798	253	3	for	for	ADP
fsr-3798	253	4	aggressive	aggressive	ADJ
fsr-3798	253	5	growth	growth	NOUN
fsr-3798	253	6	,	,	PUNCT
fsr-3798	253	7	special	special	ADJ
fsr-3798	253	8	ized	ize	VERB
fsr-3798	253	9	,	,	PUNCT
fsr-3798	253	10	and	and	CCONJ
fsr-3798	253	11	international	international	ADJ
fsr-3798	253	12	funds	fund	NOUN
fsr-3798	253	13	tend	tend	VERB
fsr-3798	253	14	to	to	PART
fsr-3798	253	15	exceed	exceed	VERB
fsr-3798	253	16	those	those	PRON
fsr-3798	253	17	of	of	ADP
fsr-3798	253	18	growth	growth	NOUN
fsr-3798	253	19	funds	fund	NOUN
fsr-3798	253	20	.	.	PUNCT
fsr-3798	254	1	this	this	PRON
fsr-3798	254	2	is	be	AUX
fsr-3798	254	3	expected	expect	VERB
fsr-3798	254	4	because	because	SCONJ
fsr-3798	254	5	these	these	DET
fsr-3798	254	6	funds	fund	NOUN
fsr-3798	254	7	may	may	AUX
fsr-3798	254	8	require	require	VERB
fsr-3798	254	9	specialized	specialized	ADJ
fsr-3798	254	10	management	management	NOUN
fsr-3798	254	11	skills	skill	NOUN
fsr-3798	254	12	and	and	CCONJ
fsr-3798	254	13	more	more	ADV
fsr-3798	254	14	expensive	expensive	ADJ
fsr-3798	254	15	administration	administration	NOUN
fsr-3798	254	16	.	.	PUNCT
fsr-3798	255	1	assuming	assume	VERB
fsr-3798	255	2	that	that	SCONJ
fsr-3798	255	3	managers	manager	NOUN
fsr-3798	255	4	are	be	AUX
fsr-3798	255	5	risk	risk	NOUN
fsr-3798	255	6	averse	averse	ADJ
fsr-3798	255	7	,	,	PUNCT
fsr-3798	255	8	golec	golec	NOUN
fsr-3798	255	9	(	(	PUNCT
fsr-3798	255	10	1992	1992	NUM
fsr-3798	255	11	)	)	PUNCT
fsr-3798	255	12	shows	show	VERB
fsr-3798	255	13	that	that	SCONJ
fsr-3798	255	14	management	management	NOUN
fsr-3798	255	15	fees	fee	NOUN
fsr-3798	255	16	and	and	CCONJ
fsr-3798	255	17	risk	risk	NOUN
fsr-3798	255	18	should	should	AUX
fsr-3798	255	19	he	he	PRON
fsr-3798	255	20	positively	positively	ADV
fsr-3798	255	21	related	relate	VERB
fsr-3798	255	22	.	.	PUNCT
fsr-3798	256	1	because	because	SCONJ
fsr-3798	256	2	m	m	PROPN
fsr-3798	256	3	~	~	SYM
fsr-3798	256	4	agement	agement	NOUN
fsr-3798	256	5	fees	fee	NOUN
fsr-3798	256	6	are	be	AUX
fsr-3798	256	7	a	a	DET
fsr-3798	256	8	percent	percent	NOUN
fsr-3798	256	9	of	of	ADP
fsr-3798	256	10	assets	asset	NOUN
fsr-3798	256	11	,	,	PUNCT
fsr-3798	256	12	high	high	ADJ
fsr-3798	256	13	-	-	PUNCT
fsr-3798	256	14	risk	risk	NOUN
fsr-3798	256	15	funds	fund	NOUN
fsr-3798	256	16	will	will	AUX
fsr-3798	256	17	have	have	VERB
fsr-3798	256	18	more	more	ADJ
fsr-3798	256	19	volatile	volatile	ADJ
fsr-3798	256	20	management	management	NOUN
fsr-3798	256	21	fees	fee	NOUN
fsr-3798	256	22	.	.	PUNCT
fsr-3798	257	1	managers	manager	NOUN
fsr-3798	257	2	require	require	VERB
fsr-3798	257	3	greater	great	ADJ
fsr-3798	257	4	aver	aver	NOUN
fsr-3798	257	5	age	age	NOUN
fsr-3798	257	6	compensation	compensation	NOUN
fsr-3798	257	7	in	in	ADP
fsr-3798	257	8	exchange	exchange	NOUN
fsr-3798	257	9	for	for	ADP
fsr-3798	257	10	riskier	risky	ADJ
fsr-3798	257	11	fees	fee	NOUN
fsr-3798	257	12	.	.	PUNCT
fsr-3798	258	1	the	the	DET
fsr-3798	258	2	management	management	NOUN
fsr-3798	258	3	fee	fee	NOUN
fsr-3798	258	4	regression	regression	NOUN
fsr-3798	258	5	in	in	ADP
fsr-3798	258	6	table	table	NOUN
fsr-3798	258	7	4	4	NUM
fsr-3798	258	8	supports	support	VERB
fsr-3798	258	9	this	this	DET
fsr-3798	258	10	prediction	prediction	NOUN
fsr-3798	258	11	;	;	PUNCT
fsr-3798	258	12	both	both	CCONJ
fsr-3798	258	13	beta	beta	ADJ
fsr-3798	258	14	and	and	CCONJ
fsr-3798	258	15	residual	residual	ADJ
fsr-3798	258	16	standard	standard	ADJ
fsr-3798	258	17	deviation	deviation	NOUN
fsr-3798	258	18	coefficients	coefficient	NOUN
fsr-3798	258	19	are	be	AUX
fsr-3798	258	20	signifi	signifi	NOUN
fsr-3798	258	21	ca	can	AUX
fsr-3798	258	22	nt	not	PART
fsr-3798	258	23	and	and	CCONJ
fsr-3798	258	24	positive	positive	ADJ
fsr-3798	258	25	.	.	PUNCT
fsr-3798	259	1	turnover	turnover	NOUN
fsr-3798	259	2	and	and	CCONJ
fsr-3798	259	3	expense	expense	NOUN
fsr-3798	259	4	ratio	ratio	NOUN
fsr-3798	259	5	may	may	AUX
fsr-3798	259	6	be	be	AUX
fsr-3798	259	7	negatively	negatively	ADV
fsr-3798	259	8	related	relate	VERB
fsr-3798	259	9	because	because	SCONJ
fsr-3798	259	10	competition	competition	NOUN
fsr-3798	259	11	between	between	ADP
fsr-3798	259	12	funds	fund	NOUN
fsr-3798	259	13	based	base	VERB
fsr-3798	259	14	on	on	ADP
fsr-3798	259	15	cost	cost	NOUN
fsr-3798	259	16	implies	imply	VERB
fsr-3798	259	17	relatively	relatively	ADV
fsr-3798	259	18	high	high	ADJ
fsr-3798	259	19	turnover	turnover	NOUN
fsr-3798	259	20	costs	cost	NOUN
fsr-3798	259	21	must	must	AUX
fsr-3798	259	22	be	be	AUX
fsr-3798	259	23	offset	offset	VERB
fsr-3798	259	24	by	by	ADP
fsr-3798	259	25	relatively	relatively	ADV
fsr-3798	259	26	low	low	ADJ
fsr-3798	259	27	expenses	expense	NOUN
fsr-3798	259	28	.	.	PUNCT
fsr-3798	260	1	indeed	indeed	ADV
fsr-3798	260	2	,	,	PUNCT
fsr-3798	260	3	some	some	DET
fsr-3798	260	4	funds	fund	NOUN
fsr-3798	260	5	avoid	avoid	VERB
fsr-3798	260	6	paying	pay	VERB
fsr-3798	260	7	research	research	NOUN
fsr-3798	260	8	costs	cost	NOUN
fsr-3798	260	9	by	by	ADP
fsr-3798	260	10	receiving	receive	VERB
fsr-3798	260	11	their	their	PRON
fsr-3798	260	12	research	research	NOUN
fsr-3798	260	13	from	from	ADP
fsr-3798	260	14	brokerage	brokerage	NOUN
fsr-3798	260	15	companies	company	NOUN
fsr-3798	260	16	.	.	PUNCT
fsr-3798	261	1	they	they	PRON
fsr-3798	261	2	compensate	compensate	VERB
fsr-3798	261	3	brokers	broker	NOUN
fsr-3798	261	4	by	by	ADP
fsr-3798	261	5	directing	direct	VERB
fsr-3798	261	6	more	more	ADJ
fsr-3798	261	7	trades	trade	NOUN
fsr-3798	261	8	(	(	PUNCT
fsr-3798	261	9	“	"	PUNCT
fsr-3798	261	10	soft	soft	ADJ
fsr-3798	261	11	dollars	dollar	NOUN
fsr-3798	261	12	”	"	PUNCT
fsr-3798	261	13	)	)	PUNCT
fsr-3798	261	14	to	to	ADP
fsr-3798	261	15	the	the	DET
fsr-3798	261	16	brokers	broker	NOUN
fsr-3798	261	17	who	who	PRON
fsr-3798	261	18	supply	supply	VERB
fsr-3798	261	19	research	research	NOUN
fsr-3798	261	20	.	.	PUNCT
fsr-3798	262	1	results	result	NOUN
fsr-3798	262	2	show	show	VERB
fsr-3798	262	3	a	a	DET
fsr-3798	262	4	negative	negative	ADJ
fsr-3798	262	5	relationship	relationship	NOUN
fsr-3798	262	6	,	,	PUNCT
fsr-3798	262	7	but	but	CCONJ
fsr-3798	262	8	the	the	DET
fsr-3798	262	9	coeffi	coeffi	PROPN
fsr-3798	262	10	cient	cient	NOUN
fsr-3798	262	11	is	be	AUX
fsr-3798	262	12	insignificant	insignificant	ADJ
fsr-3798	262	13	.	.	PUNCT
fsr-3798	263	1	as	as	SCONJ
fsr-3798	263	2	noted	note	VERB
fsr-3798	263	3	above	above	ADV
fsr-3798	263	4	,	,	PUNCT
fsr-3798	263	5	turnover	turnover	NOUN
fsr-3798	263	6	may	may	AUX
fsr-3798	263	7	signal	signal	VERB
fsr-3798	263	8	management	management	NOUN
fsr-3798	263	9	effort	effort	NOUN
fsr-3798	263	10	.	.	PUNCT
fsr-3798	264	1	assuming	assume	VERB
fsr-3798	264	2	managers	manager	NOUN
fsr-3798	264	3	require	require	VERB
fsr-3798	264	4	compensation	compensation	NOUN
fsr-3798	264	5	for	for	ADP
fsr-3798	264	6	this	this	DET
fsr-3798	264	7	effort	effort	NOUN
fsr-3798	264	8	,	,	PUNCT
fsr-3798	264	9	turnover	turnover	NOUN
fsr-3798	264	10	should	should	AUX
fsr-3798	264	11	be	be	AUX
fsr-3798	264	12	positively	positively	ADV
fsr-3798	264	13	related	relate	VERB
fsr-3798	264	14	to	to	ADP
fsr-3798	264	15	management	management	NOUN
fsr-3798	264	16	fee	fee	NOUN
fsr-3798	264	17	.	.	PUNCT
fsr-3798	265	1	although	although	SCONJ
fsr-3798	265	2	the	the	DET
fsr-3798	265	3	management	management	NOUN
fsr-3798	265	4	fee	fee	NOUN
fsr-3798	265	5	regression	regression	NOUN
fsr-3798	265	6	shows	show	VERB
fsr-3798	265	7	turnover	turnover	NOUN
fsr-3798	265	8	and	and	CCONJ
fsr-3798	265	9	management	management	NOUN
fsr-3798	265	10	fees	fee	NOUN
fsr-3798	265	11	are	be	AUX
fsr-3798	265	12	posi	posi	NOUN
fsr-3798	265	13	tively	tively	ADV
fsr-3798	265	14	related	relate	VERB
fsr-3798	265	15	,	,	PUNCT
fsr-3798	265	16	the	the	DET
fsr-3798	265	17	~lationship	~lationship	NOUN
fsr-3798	265	18	is	be	AUX
fsr-3798	265	19	statistic	statistic	ADJ
fsr-3798	265	20	~	~	SYM
fsr-3798	265	21	ly	ly	X
fsr-3798	265	22	insigni	insigni	NOUN
fsr-3798	265	23	~	~	SYM
fsr-3798	265	24	c	c	X
fsr-3798	265	25	~	~	PUNCT
fsr-3798	265	26	t.	t.	ADJ
fsr-3798	265	27	years	year	NOUN
fsr-3798	265	28	of	of	ADP
fsr-3798	265	29	education	education	NOUN
fsr-3798	265	30	should	should	AUX
fsr-3798	265	31	be	be	AUX
fsr-3798	265	32	positively	positively	ADV
fsr-3798	265	33	related	relate	VERB
fsr-3798	265	34	to	to	ADP
fsr-3798	265	35	management	management	NOUN
fsr-3798	265	36	fee	fee	NOUN
fsr-3798	265	37	according	accord	VERB
fsr-3798	265	38	to	to	ADP
fsr-3798	265	39	human	human	ADJ
fsr-3798	265	40	capital	capital	NOUN
fsr-3798	265	41	theory	theory	NOUN
fsr-3798	265	42	,	,	PUNCT
fsr-3798	265	43	assuming	assume	VERB
fsr-3798	265	44	that	that	SCONJ
fsr-3798	265	45	funds	fund	NOUN
fsr-3798	265	46	use	use	VERB
fsr-3798	265	47	education	education	NOUN
fsr-3798	265	48	as	as	ADP
fsr-3798	265	49	a	a	DET
fsr-3798	265	50	measure	measure	NOUN
fsr-3798	265	51	of	of	ADP
fsr-3798	265	52	human	human	ADJ
fsr-3798	265	53	capital	capital	NOUN
fsr-3798	265	54	.	.	PUNCT
fsr-3798	266	1	indeed	indeed	ADV
fsr-3798	266	2	,	,	PUNCT
fsr-3798	266	3	table	table	NOUN
fsr-3798	266	4	4	4	NUM
fsr-3798	266	5	shows	show	VERB
fsr-3798	266	6	that	that	SCONJ
fsr-3798	266	7	years	year	NOUN
fsr-3798	266	8	of	of	ADP
fsr-3798	266	9	education	education	NOUN
fsr-3798	266	10	and	and	CCONJ
fsr-3798	266	11	management	management	NOUN
fsr-3798	266	12	fees	fee	NOUN
fsr-3798	266	13	are	be	AUX
fsr-3798	266	14	significantly	significantly	ADV
fsr-3798	266	15	pos	pos	VERB
fsr-3798	266	16	itively	itively	ADV
fsr-3798	266	17	related	relate	VERB
fsr-3798	266	18	.	.	PUNCT
fsr-3798	267	1	in	in	ADP
fsr-3798	267	2	addition	addition	NOUN
fsr-3798	267	3	,	,	PUNCT
fsr-3798	267	4	assuming	assume	VERB
fsr-3798	267	5	better	well	ADJ
fsr-3798	267	6	educated	educate	VERB
fsr-3798	267	7	managers	manager	NOUN
fsr-3798	267	8	can	can	AUX
fsr-3798	267	9	produce	produce	VERB
fsr-3798	267	10	their	their	PRON
fsr-3798	267	11	own	own	ADJ
fsr-3798	267	12	research	research	NOUN
fsr-3798	267	13	or	or	CCONJ
fsr-3798	267	14	that	that	SCONJ
fsr-3798	267	15	they	they	PRON
fsr-3798	267	16	economize	economize	VERB
fsr-3798	267	17	on	on	ADP
fsr-3798	267	18	other	other	ADJ
fsr-3798	267	19	expenses	expense	NOUN
fsr-3798	267	20	,	,	PUNCT
fsr-3798	267	21	years	year	NOUN
fsr-3798	267	22	of	of	ADP
fsr-3798	267	23	education	education	NOUN
fsr-3798	267	24	and	and	CCONJ
fsr-3798	267	25	expense	expense	NOUN
fsr-3798	267	26	ratio	ratio	NOUN
fsr-3798	267	27	may	may	AUX
fsr-3798	267	28	be	be	AUX
fsr-3798	267	29	negatively	negatively	ADV
fsr-3798	267	30	related	relate	VERB
fsr-3798	267	31	.	.	PUNCT
fsr-3798	268	1	the	the	DET
fsr-3798	268	2	significant	significant	ADJ
fsr-3798	268	3	negative	negative	ADJ
fsr-3798	268	4	coefficient	coefficient	NOUN
fsr-3798	268	5	for	for	ADP
fsr-3798	268	6	years	year	NOUN
fsr-3798	268	7	of	of	ADP
fsr-3798	268	8	education	education	NOUN
fsr-3798	268	9	in	in	ADP
fsr-3798	268	10	the	the	DET
fsr-3798	268	11	expense	expense	NOUN
fsr-3798	268	12	ratio	ratio	NOUN
fsr-3798	268	13	regression	regression	NOUN
fsr-3798	268	14	supports	support	VERB
fsr-3798	268	15	this	this	DET
fsr-3798	268	16	claim	claim	NOUN
fsr-3798	268	17	.	.	PUNCT
fsr-3798	269	1	the	the	DET
fsr-3798	269	2	most	most	ADV
fsr-3798	269	3	notable	notable	ADJ
fsr-3798	269	4	result	result	NOUN
fsr-3798	269	5	from	from	ADP
fsr-3798	269	6	the	the	DET
fsr-3798	269	7	fee	fee	NOUN
fsr-3798	269	8	regressions	regression	NOUN
fsr-3798	269	9	is	be	AUX
fsr-3798	269	10	that	that	PRON
fsr-3798	269	11	older	old	ADJ
fsr-3798	269	12	and	and	CCONJ
fsr-3798	269	13	larger	large	ADJ
fsr-3798	269	14	funds	fund	NOUN
fsr-3798	269	15	can	can	AUX
fsr-3798	269	16	be	be	AUX
fsr-3798	269	17	expected	expect	VERB
fsr-3798	269	18	to	to	PART
fsr-3798	269	19	deliver	deliver	VERB
fsr-3798	269	20	lower	low	ADJ
fsr-3798	269	21	fees	fee	NOUN
fsr-3798	269	22	.	.	PUNCT
fsr-3798	270	1	in	in	ADP
fsr-3798	270	2	addition	addition	NOUN
fsr-3798	270	3	,	,	PUNCT
fsr-3798	270	4	older	old	ADJ
fsr-3798	270	5	managers	manager	NOUN
fsr-3798	270	6	tend	tend	VERB
fsr-3798	270	7	to	to	PART
fsr-3798	270	8	trade	trade	VERB
fsr-3798	270	9	less	less	ADJ
fsr-3798	270	10	while	while	SCONJ
fsr-3798	270	11	long	long	ADV
fsr-3798	270	12	tenured	tenure	VERB
fsr-3798	270	13	managers	manager	NOUN
fsr-3798	270	14	tend	tend	VERB
fsr-3798	270	15	to	to	PART
fsr-3798	270	16	keep	keep	VERB
fsr-3798	270	17	expenses	expense	NOUN
fsr-3798	270	18	low	low	ADJ
fsr-3798	270	19	.	.	PUNCT
fsr-3798	271	1	v.	v.	CCONJ
fsr-3798	271	2	conside~~on	conside~~on	PUNCT
fsr-3798	271	3	of	of	ADP
fsr-3798	271	4	survivo~~p	survivo~~p	NOUN
fsr-3798	271	5	bias	bias	NOUN
fsr-3798	271	6	and	and	CCONJ
fsr-3798	271	7	performance	performance	NOUN
fsr-3798	271	8	measurement	measurement	NOUN
fsr-3798	271	9	performance	performance	NOUN
fsr-3798	271	10	evaluation	evaluation	NOUN
fsr-3798	271	11	of	of	ADP
fsr-3798	271	12	mutual	mutual	ADJ
fsr-3798	271	13	fund	fund	NOUN
fsr-3798	271	14	managers	manager	NOUN
fsr-3798	271	15	is	be	AUX
fsr-3798	271	16	subject	subject	ADJ
fsr-3798	271	17	to	to	ADP
fsr-3798	271	18	a	a	DET
fsr-3798	271	19	survivorship	survivorship	NOUN
fsr-3798	271	20	effect	effect	NOUN
fsr-3798	271	21	since	since	SCONJ
fsr-3798	271	22	very	very	ADV
fsr-3798	271	23	poor	poor	ADJ
fsr-3798	271	24	performers	performer	NOUN
fsr-3798	271	25	are	be	AUX
fsr-3798	271	26	likely	likely	ADJ
fsr-3798	271	27	to	to	PART
fsr-3798	271	28	be	be	AUX
fsr-3798	271	29	fired	fire	VERB
fsr-3798	271	30	and	and	CCONJ
fsr-3798	271	31	very	very	ADV
fsr-3798	271	32	good	good	ADJ
fsr-3798	271	33	performers	performer	NOUN
fsr-3798	271	34	may	may	AUX
fsr-3798	271	35	leave	leave	VERB
fsr-3798	272	1	volunt	volunt	NOUN
fsr-3798	272	2	~	~	VERB
fsr-3798	272	3	ly	ly	NOUN
fsr-3798	272	4	for	for	ADP
fsr-3798	272	5	better	well	ADJ
fsr-3798	272	6	opportunities	opportunity	NOUN
fsr-3798	272	7	.	.	PUNCT
fsr-3798	273	1	the	the	DET
fsr-3798	273	2	survivorship	survivorship	NOUN
fsr-3798	273	3	effect	effect	NOUN
fsr-3798	273	4	may	may	AUX
fsr-3798	273	5	be	be	AUX
fsr-3798	273	6	relatively	relatively	ADV
fsr-3798	273	7	small	small	ADJ
fsr-3798	273	8	in	in	ADP
fsr-3798	273	9	this	this	DET
fsr-3798	273	10	study	study	NOUN
fsr-3798	273	11	because	because	SCONJ
fsr-3798	273	12	of	of	ADP
fsr-3798	273	13	the	the	DET
fsr-3798	273	14	short	short	ADJ
fsr-3798	273	15	sample	sample	NOUN
fsr-3798	273	16	period	period	NOUN
fsr-3798	273	17	.	.	PUNCT
fsr-3798	274	1	the	the	DET
fsr-3798	274	2	relative	relative	ADJ
fsr-3798	274	3	numbers	number	NOUN
fsr-3798	274	4	of	of	ADP
fsr-3798	274	5	good	good	ADJ
fsr-3798	274	6	and	and	CCONJ
fsr-3798	274	7	poor	poor	ADJ
fsr-3798	274	8	performers	performer	NOUN
fsr-3798	274	9	who	who	PRON
fsr-3798	274	10	exit	exit	VERB
fsr-3798	274	11	the	the	DET
fsr-3798	274	12	industry	industry	NOUN
fsr-3798	274	13	along	along	ADP
fsr-3798	274	14	with	with	ADP
fsr-3798	274	15	the	the	DET
fsr-3798	274	16	level	level	NOUN
fsr-3798	274	17	of	of	ADP
fsr-3798	274	18	their	their	PRON
fsr-3798	274	19	performance	performance	NOUN
fsr-3798	274	20	will	will	AUX
fsr-3798	274	21	determine	determine	VERB
fsr-3798	274	22	the	the	DET
fsr-3798	274	23	net	net	ADJ
fsr-3798	274	24	effect	effect	NOUN
fsr-3798	274	25	on	on	ADP
fsr-3798	274	26	the	the	DET
fsr-3798	274	27	sample	sample	NOUN
fsr-3798	274	28	’s	’s	PART
fsr-3798	274	29	average	average	ADJ
fsr-3798	274	30	alpha	alpha	NOUN
fsr-3798	274	31	.	.	PUNCT
fsr-3798	275	1	either	either	DET
fsr-3798	275	2	way	way	NOUN
fsr-3798	275	3	,	,	PUNCT
fsr-3798	275	4	managers	manager	NOUN
fsr-3798	275	5	exiting	exit	VERB
fsr-3798	275	6	the	the	DET
fsr-3798	275	7	tails	tail	NOUN
fsr-3798	275	8	of	of	ADP
fsr-3798	275	9	the	the	DET
fsr-3798	275	10	distribution	distribution	NOUN
fsr-3798	275	11	will	will	AUX
fsr-3798	275	12	reduce	reduce	VERB
fsr-3798	275	13	the	the	DET
fsr-3798	275	14	sample	sample	NOUN
fsr-3798	275	15	’s	’s	PART
fsr-3798	275	16	alpha	alpha	NOUN
fsr-3798	275	17	variation	variation	NOUN
fsr-3798	275	18	and	and	CCONJ
fsr-3798	275	19	make	make	VERB
fsr-3798	275	20	it	it	PRON
fsr-3798	275	21	more	more	ADV
fsr-3798	275	22	dif	dif	ADV
fsr-3798	275	23	~	~	PUNCT
fsr-3798	275	24	cult	cult	NOUN
fsr-3798	275	25	to	to	PART
fsr-3798	275	26	find	find	VERB
fsr-3798	275	27	signi	signi	ADJ
fsr-3798	275	28	~	~	X
fsr-3798	275	29	cant	cant	VERB
fsr-3798	275	30	structural	structural	ADJ
fsr-3798	275	31	relationships	relationship	NOUN
fsr-3798	275	32	.	.	PUNCT
fsr-3798	276	1	indeed	indeed	ADV
fsr-3798	276	2	,	,	PUNCT
fsr-3798	276	3	the	the	DET
fsr-3798	276	4	r	r	NOUN
fsr-3798	276	5	-	-	PUNCT
fsr-3798	276	6	squared	square	VERB
fsr-3798	276	7	for	for	ADP
fsr-3798	276	8	the	the	DET
fsr-3798	276	9	alpha	alpha	NOUN
fsr-3798	276	10	equation	equation	NOUN
fsr-3798	276	11	is	be	AUX
fsr-3798	276	12	relatively	relatively	ADV
fsr-3798	276	13	low	low	ADJ
fsr-3798	276	14	.	.	PUNCT
fsr-3798	277	1	this	this	DET
fsr-3798	277	2	reduction	reduction	NOUN
fsr-3798	277	3	of	of	ADP
fsr-3798	277	4	variance	variance	NOUN
fsr-3798	277	5	is	be	AUX
fsr-3798	277	6	of	of	ADP
fsr-3798	277	7	greater	great	ADJ
fsr-3798	277	8	concern	concern	NOUN
fsr-3798	277	9	than	than	ADP
fsr-3798	277	10	the	the	DET
fsr-3798	277	11	potential	potential	ADJ
fsr-3798	277	12	effect	effect	NOUN
fsr-3798	277	13	on	on	ADP
fsr-3798	277	14	average	average	ADJ
fsr-3798	277	15	alpha	alpha	NOUN
fsr-3798	277	16	because	because	SCONJ
fsr-3798	277	17	this	this	DET
fsr-3798	277	18	146	146	NUM
fsr-3798	277	19	financial	financial	ADJ
fsr-3798	277	20	services	service	NOUN
fsr-3798	277	21	review	review	VERB
fsr-3798	277	22	32	32	NUM
fsr-3798	277	23	)	)	PUNCT
fsr-3798	277	24	1996	1996	NUM
fsr-3798	277	25	study	study	NOUN
fsr-3798	277	26	oniy	oniy	NOUN
fsr-3798	277	27	requires	require	VERB
fsr-3798	277	28	alpha	alpha	NOUN
fsr-3798	277	29	to	to	PART
fsr-3798	277	30	rank	rank	VERB
fsr-3798	277	31	performance	performance	NOUN
fsr-3798	277	32	of	of	ADP
fsr-3798	277	33	managers	manager	NOUN
fsr-3798	277	34	in	in	ADP
fsr-3798	277	35	a	a	DET
fsr-3798	277	36	cross	cross	NOUN
fsr-3798	277	37	-	-	NOUN
fsr-3798	277	38	section	section	NOUN
fsr-3798	277	39	.	.	PUNCT
fsr-3798	278	1	by	by	ADP
fsr-3798	278	2	contrast	contrast	NOUN
fsr-3798	278	3	,	,	PUNCT
fsr-3798	278	4	most	most	ADJ
fsr-3798	278	5	other	other	ADJ
fsr-3798	278	6	mutual	mutual	ADJ
fsr-3798	278	7	fund	fund	NOUN
fsr-3798	278	8	performance	performance	NOUN
fsr-3798	278	9	studies	study	NOUN
fsr-3798	278	10	are	be	AUX
fsr-3798	278	11	interested	interested	ADJ
fsr-3798	278	12	in	in	ADP
fsr-3798	278	13	using	use	VERB
fsr-3798	278	14	their	their	PRON
fsr-3798	278	15	performance	performance	NOUN
fsr-3798	278	16	mea	mea	NOUN
fsr-3798	278	17	sures	sure	NOUN
fsr-3798	278	18	as	as	ADP
fsr-3798	278	19	absolute	absolute	ADJ
fsr-3798	278	20	measures	measure	NOUN
fsr-3798	278	21	of	of	ADP
fsr-3798	278	22	whether	whether	SCONJ
fsr-3798	278	23	fund	fund	NOUN
fsr-3798	278	24	managers	manager	NOUN
fsr-3798	278	25	“	"	PUNCT
fsr-3798	278	26	beat	beat	VERB
fsr-3798	278	27	the	the	DET
fsr-3798	278	28	market	market	NOUN
fsr-3798	278	29	”	"	PUNCT
fsr-3798	278	30	(	(	PUNCT
fsr-3798	278	31	i.e.	i.e.	X
fsr-3798	278	32	,	,	PUNCT
fsr-3798	278	33	whether	whether	SCONJ
fsr-3798	278	34	the	the	DET
fsr-3798	278	35	measure	measure	NOUN
fsr-3798	278	36	is	be	AUX
fsr-3798	278	37	positive	positive	ADJ
fsr-3798	278	38	)	)	PUNCT
fsr-3798	278	39	.	.	PUNCT
fsr-3798	279	1	one	one	NUM
fsr-3798	279	2	drawback	drawback	NOUN
fsr-3798	279	3	of	of	ADP
fsr-3798	279	4	this	this	DET
fsr-3798	279	5	study	study	NOUN
fsr-3798	279	6	is	be	AUX
fsr-3798	279	7	that	that	SCONJ
fsr-3798	279	8	the	the	DET
fsr-3798	279	9	data	data	NOUN
fsr-3798	279	10	source	source	NOUN
fsr-3798	279	11	only	only	ADV
fsr-3798	279	12	provides	provide	VERB
fsr-3798	279	13	alpha	alpha	NOUN
fsr-3798	279	14	measured	measure	VERB
fsr-3798	279	15	using	use	VERB
fsr-3798	279	16	the	the	DET
fsr-3798	279	17	s&p	s&p	PROPN
fsr-3798	279	18	500	500	NUM
fsr-3798	279	19	.	.	PUNCT
fsr-3798	280	1	some	some	DET
fsr-3798	280	2	recent	recent	ADJ
fsr-3798	280	3	studies	study	NOUN
fsr-3798	280	4	have	have	AUX
fsr-3798	280	5	used	use	VERB
fsr-3798	280	6	alphas	alpha	NOUN
fsr-3798	280	7	measured	measure	VERB
fsr-3798	280	8	with	with	ADP
fsr-3798	280	9	multiple	multiple	ADJ
fsr-3798	280	10	indexes	index	NOUN
fsr-3798	280	11	,	,	PUNCT
fsr-3798	280	12	although	although	SCONJ
fsr-3798	280	13	ippolito	ippolito	PROPN
fsr-3798	280	14	(	(	PUNCT
fsr-3798	280	15	1989	1989	NUM
fsr-3798	280	16	)	)	PUNCT
fsr-3798	280	17	and	and	CCONJ
fsr-3798	280	18	goetzmann	goetzmann	PROPN
fsr-3798	280	19	and	and	CCONJ
fsr-3798	280	20	ibbotson	ibbotson	PROPN
fsr-3798	280	21	(	(	PUNCT
fsr-3798	280	22	1994	1994	NUM
fsr-3798	280	23	)	)	PUNCT
fsr-3798	280	24	use	use	VERB
fsr-3798	280	25	the	the	DET
fsr-3798	280	26	s&p	s&p	PROPN
fsr-3798	280	27	500	500	NUM
fsr-3798	280	28	.	.	PUNCT
fsr-3798	281	1	many	many	ADJ
fsr-3798	281	2	studies	study	NOUN
fsr-3798	281	3	find	find	VERB
fsr-3798	281	4	that	that	SCONJ
fsr-3798	281	5	average	average	ADJ
fsr-3798	281	6	fund	fund	NOUN
fsr-3798	281	7	performance	performance	NOUN
fsr-3798	281	8	changes	change	NOUN
fsr-3798	281	9	with	with	ADP
fsr-3798	281	10	the	the	DET
fsr-3798	281	11	index	index	NOUN
fsr-3798	281	12	.	.	PUNCT
fsr-3798	282	1	average	average	ADJ
fsr-3798	282	2	performance	performance	NOUN
fsr-3798	282	3	differences	difference	NOUN
fsr-3798	282	4	are	be	AUX
fsr-3798	282	5	less	less	ADV
fsr-3798	282	6	important	important	ADJ
fsr-3798	282	7	to	to	ADP
fsr-3798	282	8	the	the	DET
fsr-3798	282	9	cross	cross	ADJ
fsr-3798	282	10	-	-	ADJ
fsr-3798	282	11	sectional	sectional	ADJ
fsr-3798	282	12	analysis	analysis	NOUN
fsr-3798	282	13	in	in	ADP
fsr-3798	282	14	this	this	DET
fsr-3798	282	15	study	study	NOUN
fsr-3798	282	16	because	because	SCONJ
fsr-3798	282	17	it	it	PRON
fsr-3798	282	18	relies	rely	VERB
fsr-3798	282	19	on	on	ADP
fsr-3798	282	20	relative	relative	ADJ
fsr-3798	282	21	performance	performance	NOUN
fsr-3798	282	22	between	between	ADP
fsr-3798	282	23	managers	manager	NOUN
fsr-3798	282	24	.	.	PUNCT
fsr-3798	283	1	results	result	NOUN
fsr-3798	283	2	may	may	AUX
fsr-3798	283	3	be	be	AUX
fsr-3798	283	4	affected	affect	VERB
fsr-3798	283	5	if	if	SCONJ
fsr-3798	283	6	performance	performance	NOUN
fsr-3798	283	7	ranks	rank	NOUN
fsr-3798	283	8	are	be	AUX
fsr-3798	283	9	not	not	PART
fsr-3798	283	10	stable	stable	ADJ
fsr-3798	283	11	over	over	ADP
fsr-3798	283	12	indexes	index	NOUN
fsr-3798	283	13	and	and	CCONJ
fsr-3798	283	14	the	the	DET
fsr-3798	283	15	wrong	wrong	ADJ
fsr-3798	283	16	index	index	NOUN
fsr-3798	283	17	is	be	AUX
fsr-3798	283	18	used	use	VERB
fsr-3798	283	19	.	.	PUNCT
fsr-3798	284	1	hendricks	hendrick	NOUN
fsr-3798	284	2	,	,	PUNCT
fsr-3798	284	3	patel	patel	NOUN
fsr-3798	284	4	,	,	PUNCT
fsr-3798	284	5	and	and	CCONJ
fsr-3798	284	6	zeckhauser	zeckhauser	NOUN
fsr-3798	284	7	(	(	PUNCT
fsr-3798	284	8	1993	1993	NUM
fsr-3798	284	9	)	)	PUNCT
fsr-3798	284	10	,	,	PUNCT
fsr-3798	284	11	who	who	PRON
fsr-3798	284	12	tried	try	VERB
fsr-3798	284	13	numerous	numerous	ADJ
fsr-3798	284	14	single	single	ADJ
fsr-3798	284	15	-	-	PUNCT
fsr-3798	284	16	index	index	NOUN
fsr-3798	284	17	and	and	CCONJ
fsr-3798	284	18	multi	multi	ADJ
fsr-3798	284	19	index	index	NOUN
fsr-3798	284	20	models	model	NOUN
fsr-3798	284	21	,	,	PUNCT
fsr-3798	284	22	found	find	VERB
fsr-3798	284	23	little	little	ADJ
fsr-3798	284	24	effect	effect	NOUN
fsr-3798	284	25	on	on	ADP
fsr-3798	284	26	rankings	ranking	NOUN
fsr-3798	284	27	.	.	PUNCT
fsr-3798	285	1	on	on	ADP
fsr-3798	285	2	the	the	DET
fsr-3798	285	3	other	other	ADJ
fsr-3798	285	4	hand	hand	NOUN
fsr-3798	285	5	,	,	PUNCT
fsr-3798	285	6	grinblat	grinblat	ADJ
fsr-3798	285	7	and	and	CCONJ
fsr-3798	285	8	titman	titman	NOUN
fsr-3798	285	9	(	(	PUNCT
fsr-3798	285	10	1994	1994	NUM
fsr-3798	285	11	)	)	PUNCT
fsr-3798	285	12	show	show	VERB
fsr-3798	285	13	that	that	SCONJ
fsr-3798	285	14	multiple	multiple	ADJ
fsr-3798	285	15	-	-	PUNCT
fsr-3798	285	16	index	index	NOUN
fsr-3798	285	17	characteristics	characteristic	NOUN
fsr-3798	285	18	-	-	PUNCT
fsr-3798	285	19	based	base	VERB
fsr-3798	285	20	models	model	NOUN
fsr-3798	285	21	produce	produce	VERB
fsr-3798	285	22	substantially	substantially	ADV
fsr-3798	285	23	differ	differ	VERB
fsr-3798	285	24	ent	ent	NOUN
fsr-3798	285	25	performance	performance	NOUN
fsr-3798	285	26	rankings	ranking	NOUN
fsr-3798	285	27	than	than	ADP
fsr-3798	285	28	single	single	ADJ
fsr-3798	285	29	-	-	PUNCT
fsr-3798	285	30	index	index	NOUN
fsr-3798	285	31	models	model	NOUN
fsr-3798	285	32	,	,	PUNCT
fsr-3798	285	33	hence	hence	ADV
fsr-3798	285	34	,	,	PUNCT
fsr-3798	285	35	the	the	DET
fsr-3798	285	36	evidence	evidence	NOUN
fsr-3798	285	37	on	on	ADP
fsr-3798	285	38	ranking	rank	VERB
fsr-3798	285	39	stabil	stabil	PROPN
fsr-3798	285	40	ity	ity	PROPN
fsr-3798	285	41	is	be	AUX
fsr-3798	285	42	mixed	mixed	ADJ
fsr-3798	285	43	.	.	PUNCT
fsr-3798	286	1	this	this	DET
fsr-3798	286	2	study	study	NOUN
fsr-3798	286	3	’s	’s	PART
fsr-3798	286	4	results	result	NOUN
fsr-3798	286	5	partly	partly	ADV
fsr-3798	286	6	control	control	VERB
fsr-3798	286	7	for	for	ADP
fsr-3798	286	8	potentially	potentially	ADV
fsr-3798	286	9	m&specified	m&specifie	VERB
fsr-3798	286	10	alpha	alpha	NOUN
fsr-3798	286	11	because	because	SCONJ
fsr-3798	286	12	the	the	DET
fsr-3798	286	13	other	other	ADJ
fsr-3798	286	14	components	component	NOUN
fsr-3798	286	15	of	of	ADP
fsr-3798	286	16	the	the	DET
fsr-3798	286	17	capm	capm	PROPN
fsr-3798	286	18	(	(	PUNCT
fsr-3798	286	19	beta	beta	NOUN
fsr-3798	286	20	and	and	CCONJ
fsr-3798	286	21	residual	residual	ADJ
fsr-3798	286	22	standard	standard	ADJ
fsr-3798	286	23	deviation	deviation	NOUN
fsr-3798	286	24	)	)	PUNCT
fsr-3798	286	25	appear	appear	VERB
fsr-3798	286	26	in	in	ADP
fsr-3798	286	27	the	the	DET
fsr-3798	286	28	alpha	alpha	NOUN
fsr-3798	286	29	equation	equation	NOUN
fsr-3798	286	30	.	.	PUNCT
fsr-3798	287	1	if	if	SCONJ
fsr-3798	287	2	the	the	DET
fsr-3798	287	3	ranking	ranking	NOUN
fsr-3798	287	4	is	be	AUX
fsr-3798	287	5	still	still	ADV
fsr-3798	287	6	improper	improper	ADJ
fsr-3798	287	7	,	,	PUNCT
fsr-3798	287	8	the	the	DET
fsr-3798	287	9	results	result	NOUN
fsr-3798	287	10	could	could	AUX
fsr-3798	287	11	be	be	AUX
fsr-3798	287	12	spurious	spurious	ADJ
fsr-3798	287	13	,	,	PUNCT
fsr-3798	287	14	although	although	SCONJ
fsr-3798	287	15	it	it	PRON
fsr-3798	287	16	is	be	AUX
fsr-3798	287	17	also	also	ADV
fsr-3798	287	18	possible	possible	ADJ
fsr-3798	287	19	that	that	SCONJ
fsr-3798	287	20	improper	improper	ADJ
fsr-3798	287	21	ranking	ranking	NOUN
fsr-3798	287	22	will	will	AUX
fsr-3798	287	23	produce	produce	VERB
fsr-3798	287	24	noise	noise	NOUN
fsr-3798	287	25	and	and	CCONJ
fsr-3798	287	26	less	less	ADV
fsr-3798	287	27	significant	significant	ADJ
fsr-3798	287	28	results	result	NOUN
fsr-3798	287	29	.	.	PUNCT
fsr-3798	288	1	vi	vi	X
fsr-3798	288	2	.	.	NOUN
fsr-3798	288	3	summary	summary	NOUN
fsr-3798	288	4	and	and	CCONJ
fsr-3798	288	5	conclusion	conclusion	NOUN
fsr-3798	288	6	this	this	DET
fsr-3798	288	7	study	study	NOUN
fsr-3798	288	8	analyzes	analyze	VERB
fsr-3798	288	9	mutual	mutual	ADJ
fsr-3798	288	10	fund	fund	NOUN
fsr-3798	288	11	portfolio	portfolio	NOUN
fsr-3798	288	12	performance	performance	NOUN
fsr-3798	288	13	(	(	PUNCT
fsr-3798	288	14	yield	yield	NOUN
fsr-3798	288	15	and	and	CCONJ
fsr-3798	288	16	alpha	alpha	NOUN
fsr-3798	288	17	)	)	PUNCT
fsr-3798	288	18	,	,	PUNCT
fsr-3798	288	19	risk	risk	NOUN
fsr-3798	288	20	(	(	PUNCT
fsr-3798	288	21	beta	beta	ADJ
fsr-3798	288	22	and	and	CCONJ
fsr-3798	288	23	residual	residual	ADJ
fsr-3798	288	24	return	return	NOUN
fsr-3798	288	25	standard	standard	ADJ
fsr-3798	288	26	deviation	deviation	NOUN
fsr-3798	288	27	)	)	PUNCT
fsr-3798	288	28	and	and	CCONJ
fsr-3798	288	29	fees	fee	NOUN
fsr-3798	288	30	(	(	PUNCT
fsr-3798	288	31	expense	expense	NOUN
fsr-3798	288	32	ratio	ratio	NOUN
fsr-3798	288	33	,	,	PUNCT
fsr-3798	288	34	management	management	NOUN
fsr-3798	288	35	fees	fee	NOUN
fsr-3798	288	36	,	,	PUNCT
fsr-3798	288	37	and	and	CCONJ
fsr-3798	288	38	tum	tum	NOUN
fsr-3798	288	39	over	over	ADV
fsr-3798	288	40	)	)	PUNCT
fsr-3798	288	41	as	as	ADP
fsr-3798	288	42	endogenous	endogenous	ADJ
fsr-3798	288	43	variables	variable	NOUN
fsr-3798	288	44	in	in	ADP
fsr-3798	288	45	a	a	DET
fsr-3798	288	46	system	system	NOUN
fsr-3798	288	47	of	of	ADP
fsr-3798	288	48	simult	simult	NOUN
fsr-3798	288	49	~	~	SYM
fsr-3798	288	50	eous	eous	ADJ
fsr-3798	288	51	equations	equation	NOUN
fsr-3798	288	52	.	.	PUNCT
fsr-3798	289	1	earlier	early	ADJ
fsr-3798	289	2	studies	study	NOUN
fsr-3798	289	3	typi	typi	PROPN
fsr-3798	289	4	cally	cally	ADV
fsr-3798	289	5	focus	focus	VERB
fsr-3798	289	6	on	on	ADP
fsr-3798	289	7	only	only	ADV
fsr-3798	289	8	one	one	NUM
fsr-3798	289	9	or	or	CCONJ
fsr-3798	289	10	two	two	NUM
fsr-3798	289	11	of	of	ADP
fsr-3798	289	12	these	these	DET
fsr-3798	289	13	variables	variable	NOUN
fsr-3798	289	14	using	use	VERB
fsr-3798	289	15	single	single	ADJ
fsr-3798	289	16	equation	equation	NOUN
fsr-3798	289	17	methods	method	NOUN
fsr-3798	289	18	.	.	PUNCT
fsr-3798	290	1	results	result	NOUN
fsr-3798	290	2	of	of	ADP
fsr-3798	290	3	this	this	DET
fsr-3798	290	4	study	study	NOUN
fsr-3798	290	5	are	be	AUX
fsr-3798	290	6	summarized	summarize	VERB
fsr-3798	290	7	in	in	ADP
fsr-3798	290	8	light	light	NOUN
fsr-3798	290	9	of	of	ADP
fsr-3798	290	10	their	their	PRON
fsr-3798	290	11	implications	implication	NOUN
fsr-3798	290	12	for	for	ADP
fsr-3798	290	13	investors	investor	NOUN
fsr-3798	290	14	choos	choos	PROPN
fsr-3798	290	15	ing	e	VERB
fsr-3798	290	16	among	among	ADP
fsr-3798	290	17	funds	fund	NOUN
fsr-3798	290	18	and	and	CCONJ
fsr-3798	290	19	fund	fund	NOUN
fsr-3798	290	20	managers	manager	NOUN
fsr-3798	290	21	.	.	PUNCT
fsr-3798	291	1	most	most	ADJ
fsr-3798	291	2	investors	investor	NOUN
fsr-3798	291	3	are	be	AUX
fsr-3798	291	4	primarily	primarily	ADV
fsr-3798	291	5	concerned	concerned	ADJ
fsr-3798	291	6	with	with	ADP
fsr-3798	291	7	the	the	DET
fsr-3798	291	8	return	return	NOUN
fsr-3798	291	9	they	they	PRON
fsr-3798	291	10	receive	receive	VERB
fsr-3798	291	11	for	for	ADP
fsr-3798	291	12	bearing	bear	VERB
fsr-3798	291	13	risk	risk	NOUN
fsr-3798	291	14	.	.	PUNCT
fsr-3798	292	1	one	one	PRON
fsr-3798	292	2	can	can	AUX
fsr-3798	292	3	expect	expect	VERB
fsr-3798	292	4	better	well	ADJ
fsr-3798	292	5	risk	risk	NOUN
fsr-3798	292	6	-	-	PUNCT
fsr-3798	292	7	adjusted	adjust	VERB
fsr-3798	292	8	performance	performance	NOUN
fsr-3798	292	9	(	(	PUNCT
fsr-3798	292	10	alpha	alpha	NOUN
fsr-3798	292	11	)	)	PUNCT
fsr-3798	292	12	from	from	ADP
fsr-3798	292	13	a	a	DET
fsr-3798	292	14	fund	fund	NOUN
fsr-3798	292	15	manager	manager	NOUN
fsr-3798	292	16	who	who	PRON
fsr-3798	292	17	is	be	AUX
fsr-3798	292	18	relatively	relatively	ADV
fsr-3798	292	19	young	young	ADJ
fsr-3798	292	20	(	(	PUNCT
fsr-3798	292	21	less	less	ADJ
fsr-3798	292	22	than	than	ADP
fsr-3798	292	23	46	46	NUM
fsr-3798	292	24	years	year	NOUN
fsr-3798	292	25	old	old	ADJ
fsr-3798	292	26	)	)	PUNCT
fsr-3798	292	27	yet	yet	ADV
fsr-3798	292	28	has	have	AUX
fsr-3798	292	29	man	man	NOUN
fsr-3798	292	30	aged	age	VERB
fsr-3798	292	31	a	a	DET
fsr-3798	292	32	fund	fund	NOUN
fsr-3798	292	33	for	for	ADP
fsr-3798	292	34	a	a	DET
fsr-3798	292	35	relatively	relatively	ADV
fsr-3798	292	36	long	long	ADJ
fsr-3798	292	37	time	time	NOUN
fsr-3798	292	38	(	(	PUNCT
fsr-3798	292	39	more	more	ADJ
fsr-3798	292	40	than	than	ADP
fsr-3798	292	41	7	7	NUM
fsr-3798	292	42	years	year	NOUN
fsr-3798	292	43	)	)	PUNCT
fsr-3798	292	44	.	.	PUNCT
fsr-3798	293	1	results	result	NOUN
fsr-3798	293	2	also	also	ADV
fsr-3798	293	3	show	show	VERB
fsr-3798	293	4	managers	manager	NOUN
fsr-3798	293	5	with	with	ADP
fsr-3798	293	6	mbas	mbas	NOUN
fsr-3798	293	7	outperform	outperform	NOUN
fsr-3798	293	8	those	those	PRON
fsr-3798	293	9	without	without	ADP
fsr-3798	293	10	.	.	PUNCT
fsr-3798	294	1	funds	fund	NOUN
fsr-3798	294	2	that	that	PRON
fsr-3798	294	3	keep	keep	VERB
fsr-3798	294	4	administrative	administrative	ADJ
fsr-3798	294	5	expenses	expense	NOUN
fsr-3798	294	6	low	low	ADJ
fsr-3798	294	7	(	(	PUNCT
fsr-3798	294	8	less	less	ADJ
fsr-3798	294	9	than	than	ADP
fsr-3798	294	10	0.80	0.80	NUM
fsr-3798	294	11	percent	percent	NOUN
fsr-3798	294	12	)	)	PUNCT
fsr-3798	294	13	produce	produce	VERB
fsr-3798	294	14	better	well	ADJ
fsr-3798	294	15	performance	performance	NOUN
fsr-3798	294	16	.	.	PUNCT
fsr-3798	295	1	but	but	CCONJ
fsr-3798	295	2	larger	large	ADJ
fsr-3798	295	3	management	management	NOUN
fsr-3798	295	4	fees	fee	NOUN
fsr-3798	295	5	(	(	PUNCT
fsr-3798	295	6	above	above	ADP
fsr-3798	295	7	0.73	0.73	NUM
fsr-3798	295	8	per	per	ADP
fsr-3798	295	9	cent	cent	NOUN
fsr-3798	295	10	)	)	PUNCT
fsr-3798	295	11	are	be	AUX
fsr-3798	295	12	associated	associate	VERB
fsr-3798	295	13	with	with	ADP
fsr-3798	295	14	better	well	ADJ
fsr-3798	295	15	performance	performance	NOUN
fsr-3798	295	16	,	,	PUNCT
fsr-3798	295	17	perhaps	perhaps	ADV
fsr-3798	295	18	because	because	SCONJ
fsr-3798	295	19	larger	large	ADJ
fsr-3798	295	20	fees	fee	NOUN
fsr-3798	295	21	are	be	AUX
fsr-3798	295	22	paid	pay	VERB
fsr-3798	295	23	to	to	PART
fsr-3798	295	24	better	well	ADJ
fsr-3798	295	25	skilled	skilled	ADJ
fsr-3798	295	26	managers	manager	NOUN
fsr-3798	295	27	.	.	PUNCT
fsr-3798	296	1	this	this	PRON
fsr-3798	296	2	means	mean	VERB
fsr-3798	296	3	that	that	SCONJ
fsr-3798	296	4	investors	investor	NOUN
fsr-3798	296	5	should	should	AUX
fsr-3798	296	6	avoid	avoid	VERB
fsr-3798	296	7	funds	fund	NOUN
fsr-3798	296	8	with	with	ADP
fsr-3798	296	9	large	large	ADJ
fsr-3798	296	10	operating	operating	NOUN
fsr-3798	296	11	expenses	expense	NOUN
fsr-3798	296	12	but	but	CCONJ
fsr-3798	296	13	not	not	PART
fsr-3798	296	14	necessarily	necessarily	ADV
fsr-3798	296	15	those	those	PRON
fsr-3798	296	16	with	with	ADP
fsr-3798	296	17	large	large	ADJ
fsr-3798	296	18	management	management	NOUN
fsr-3798	296	19	fees	fee	NOUN
fsr-3798	296	20	.	.	PUNCT
fsr-3798	297	1	results	result	NOUN
fsr-3798	297	2	also	also	ADV
fsr-3798	297	3	show	show	VERB
fsr-3798	297	4	that	that	SCONJ
fsr-3798	297	5	investors	investor	NOUN
fsr-3798	297	6	should	should	AUX
fsr-3798	297	7	avoid	avoid	VERB
fsr-3798	297	8	funds	fund	NOUN
fsr-3798	297	9	whose	whose	DET
fsr-3798	297	10	portfolios	portfolio	NOUN
fsr-3798	297	11	contain	contain	VERB
fsr-3798	297	12	much	much	ADJ
fsr-3798	297	13	residual	residual	ADJ
fsr-3798	297	14	risk	risk	NOUN
fsr-3798	297	15	(	(	PUNCT
fsr-3798	297	16	more	more	ADJ
fsr-3798	297	17	than	than	ADP
fsr-3798	297	18	0.075	0.075	NUM
fsr-3798	297	19	residual	residual	ADJ
fsr-3798	297	20	return	return	NOUN
fsr-3798	297	21	standard	standard	ADJ
fsr-3798	297	22	deviation	deviation	NOUN
fsr-3798	297	23	)	)	PUNCT
fsr-3798	297	24	because	because	SCONJ
fsr-3798	297	25	they	they	PRON
fsr-3798	297	26	tend	tend	VERB
fsr-3798	297	27	to	to	PART
fsr-3798	297	28	under	under	NOUN
fsr-3798	297	29	-	-	PUNCT
fsr-3798	297	30	perform	perform	NOUN
fsr-3798	297	31	.	.	PUNCT
fsr-3798	298	1	a	a	DET
fsr-3798	298	2	fund	fund	NOUN
fsr-3798	298	3	’s	’s	PART
fsr-3798	298	4	beta	beta	NOUN
fsr-3798	298	5	,	,	PUNCT
fsr-3798	298	6	turnover	turnover	NOUN
fsr-3798	298	7	,	,	PUNCT
fsr-3798	298	8	team	team	NOUN
fsr-3798	298	9	size	size	NOUN
fsr-3798	298	10	,	,	PUNCT
fsr-3798	298	11	age	age	NOUN
fsr-3798	298	12	and	and	CCONJ
fsr-3798	298	13	asset	asset	NOUN
fsr-3798	298	14	size	size	NOUN
fsr-3798	298	15	as	as	SCONJ
fsr-3798	298	16	we11	we11	PROPN
fsr-3798	298	17	as	as	ADP
fsr-3798	298	18	a	a	DET
fsr-3798	298	19	manager	manager	NOUN
fsr-3798	298	20	’s	’s	PART
fsr-3798	298	21	years	year	NOUN
fsr-3798	298	22	of	of	ADP
fsr-3798	298	23	education	education	NOUN
fsr-3798	298	24	have	have	VERB
fsr-3798	298	25	no	no	DET
fsr-3798	298	26	signi	signi	NOUN
fsr-3798	298	27	~	~	SYM
fsr-3798	298	28	c	c	X
fsr-3798	298	29	~	~	PUNCT
fsr-3798	298	30	t	t	NOUN
fsr-3798	298	31	impact	impact	NOUN
fsr-3798	298	32	on	on	ADP
fsr-3798	298	33	risk	risk	NOUN
fsr-3798	298	34	-	-	PUNCT
fsr-3798	298	35	adjusted	adjust	VERB
fsr-3798	298	36	performance	performance	NOUN
fsr-3798	298	37	.	.	PUNCT
fsr-3798	299	1	investors	investor	NOUN
fsr-3798	299	2	seeking	seek	VERB
fsr-3798	299	3	high	high	ADJ
fsr-3798	299	4	yield	yield	NOUN
fsr-3798	299	5	,	,	PUNCT
fsr-3798	299	6	all	all	PRON
fsr-3798	299	7	else	else	ADV
fsr-3798	299	8	equal	equal	ADJ
fsr-3798	299	9	,	,	PUNCT
fsr-3798	299	10	should	should	AUX
fsr-3798	299	11	avoid	avoid	VERB
fsr-3798	299	12	funds	fund	NOUN
fsr-3798	299	13	with	with	ADP
fsr-3798	299	14	large	large	ADJ
fsr-3798	299	15	fees	fee	NOUN
fsr-3798	299	16	,	,	PUNCT
fsr-3798	299	17	espe	espe	VERB
fsr-3798	299	18	cially	cially	ADV
fsr-3798	299	19	management	management	NOUN
fsr-3798	299	20	fees	fee	NOUN
fsr-3798	299	21	,	,	PUNCT
fsr-3798	299	22	and	and	CCONJ
fsr-3798	299	23	choose	choose	VERB
fsr-3798	299	24	larger	large	ADJ
fsr-3798	299	25	(	(	PUNCT
fsr-3798	299	26	more	more	ADJ
fsr-3798	299	27	than	than	ADP
fsr-3798	299	28	$	$	SYM
fsr-3798	299	29	280	280	NUM
fsr-3798	299	30	million	million	NUM
fsr-3798	299	31	)	)	PUNCT
fsr-3798	299	32	funds	fund	NOUN
fsr-3798	299	33	managed	manage	VERB
fsr-3798	299	34	by	by	ADP
fsr-3798	299	35	long	long	ADV
fsr-3798	299	36	-	-	PUNCT
fsr-3798	299	37	tenured	tenure	VERB
fsr-3798	299	38	managers	manager	NOUN
fsr-3798	299	39	.	.	PUNCT
fsr-3798	300	1	of	of	ADP
fsr-3798	300	2	course	course	NOUN
fsr-3798	300	3	,	,	PUNCT
fsr-3798	300	4	such	such	ADJ
fsr-3798	300	5	investors	investor	NOUN
fsr-3798	300	6	should	should	AUX
fsr-3798	300	7	also	also	ADV
fsr-3798	300	8	select	select	VERB
fsr-3798	300	9	funds	fund	NOUN
fsr-3798	300	10	with	with	ADP
fsr-3798	300	11	high	high	ADJ
fsr-3798	300	12	-	-	PUNCT
fsr-3798	300	13	yield	yield	NOUN
fsr-3798	300	14	objectives	objective	NOUN
fsr-3798	300	15	,	,	PUNCT
fsr-3798	300	16	such	such	ADJ
fsr-3798	300	17	as	as	ADP
fsr-3798	300	18	balanced	balanced	ADJ
fsr-3798	300	19	funds	fund	NOUN
fsr-3798	300	20	.	.	PUNCT
fsr-3798	301	1	with	with	ADP
fsr-3798	301	2	regard	regard	NOUN
fsr-3798	301	3	to	to	ADP
fsr-3798	301	4	risk	risk	NOUN
fsr-3798	301	5	,	,	PUNCT
fsr-3798	301	6	investors	investor	NOUN
fsr-3798	301	7	should	should	AUX
fsr-3798	301	8	realize	realize	VERB
fsr-3798	301	9	that	that	SCONJ
fsr-3798	301	10	by	by	ADP
fsr-3798	301	11	selecting	select	VERB
fsr-3798	301	12	high	high	ADJ
fsr-3798	301	13	beta	beta	NOUN
fsr-3798	301	14	funds	fund	NOUN
fsr-3798	301	15	(	(	PUNCT
fsr-3798	301	16	greater	great	ADJ
fsr-3798	301	17	than	than	ADP
fsr-3798	301	18	0.84	0.84	NUM
fsr-3798	301	19	>	>	PUNCT
fsr-3798	301	20	,	,	PUNCT
fsr-3798	301	21	they	they	PRON
fsr-3798	301	22	often	often	ADV
fsr-3798	301	23	receive	receive	VERB
fsr-3798	301	24	more	more	ADJ
fsr-3798	301	25	residual	residual	ADJ
fsr-3798	301	26	risk	risk	NOUN
fsr-3798	301	27	and	and	CCONJ
fsr-3798	301	28	portfolio	portfolio	NOUN
fsr-3798	301	29	turnover	turnover	NOUN
fsr-3798	301	30	as	as	ADV
fsr-3798	301	31	well	well	ADV
fsr-3798	301	32	.	.	PUNCT
fsr-3798	302	1	one	one	NUM
fsr-3798	302	2	way	way	NOUN
fsr-3798	302	3	to	to	ADP
fsr-3798	302	4	mutual	mutual	ADJ
fsr-3798	302	5	fund	fund	NOUN
fsr-3798	302	6	managers	manager	NOUN
fsr-3798	302	7	147	147	NUM
fsr-3798	302	8	limit	limit	NOUN
fsr-3798	302	9	this	this	DET
fsr-3798	302	10	problem	problem	NOUN
fsr-3798	302	11	is	be	AUX
fsr-3798	302	12	to	to	PART
fsr-3798	302	13	select	select	VERB
fsr-3798	302	14	managers	manager	NOUN
fsr-3798	302	15	with	with	ADP
fsr-3798	302	16	mbas	mbas	NOUN
fsr-3798	302	17	because	because	SCONJ
fsr-3798	302	18	mbas	mba	NOUN
fsr-3798	302	19	provide	provide	VERB
fsr-3798	302	20	relatively	relatively	ADV
fsr-3798	302	21	large	large	ADJ
fsr-3798	302	22	betas	beta	NOUN
fsr-3798	302	23	without	without	ADP
fsr-3798	302	24	increasing	increase	VERB
fsr-3798	302	25	residual	residual	ADJ
fsr-3798	302	26	risk	risk	NOUN
fsr-3798	302	27	significantly	significantly	ADV
fsr-3798	302	28	.	.	PUNCT
fsr-3798	303	1	another	another	DET
fsr-3798	303	2	way	way	NOUN
fsr-3798	303	3	to	to	PART
fsr-3798	303	4	reduce	reduce	VERB
fsr-3798	303	5	the	the	DET
fsr-3798	303	6	problem	problem	NOUN
fsr-3798	303	7	is	be	AUX
fsr-3798	303	8	to	to	PART
fsr-3798	303	9	select	select	VERB
fsr-3798	303	10	older	old	ADJ
fsr-3798	303	11	(	(	PUNCT
fsr-3798	303	12	older	old	ADJ
fsr-3798	303	13	that	that	SCONJ
fsr-3798	303	14	16.27	16.27	NUM
fsr-3798	303	15	years	year	NOUN
fsr-3798	303	16	)	)	PUNCT
fsr-3798	303	17	and	and	CCONJ
fsr-3798	303	18	larger	large	ADJ
fsr-3798	303	19	funds	fund	NOUN
fsr-3798	303	20	because	because	SCONJ
fsr-3798	303	21	they	they	PRON
fsr-3798	303	22	tend	tend	VERB
fsr-3798	303	23	to	to	PART
fsr-3798	303	24	provide	provide	VERB
fsr-3798	303	25	larger	large	ADJ
fsr-3798	303	26	betas	beta	NOUN
fsr-3798	303	27	together	together	ADV
fsr-3798	303	28	with	with	ADP
fsr-3798	303	29	smaller	small	ADJ
fsr-3798	303	30	residual	residual	ADJ
fsr-3798	303	31	risk	risk	NOUN
fsr-3798	303	32	,	,	PUNCT
fsr-3798	303	33	all	all	PRON
fsr-3798	303	34	else	else	ADV
fsr-3798	303	35	equal	equal	ADJ
fsr-3798	303	36	.	.	PUNCT
fsr-3798	304	1	managers	manager	NOUN
fsr-3798	304	2	apparently	apparently	ADV
fsr-3798	304	3	charge	charge	VERB
fsr-3798	304	4	more	more	ADJ
fsr-3798	304	5	to	to	PART
fsr-3798	304	6	manage	manage	VERB
fsr-3798	304	7	higher	high	ADJ
fsr-3798	304	8	risk	risk	NOUN
fsr-3798	304	9	funds	fund	NOUN
fsr-3798	304	10	as	as	ADP
fsr-3798	304	11	compensation	compensation	NOUN
fsr-3798	304	12	for	for	ADP
fsr-3798	304	13	more	more	ADV
fsr-3798	304	14	volatile	volatile	ADJ
fsr-3798	304	15	fees	fee	NOUN
fsr-3798	304	16	.	.	PUNCT
fsr-3798	305	1	this	this	DET
fsr-3798	305	2	result	result	NOUN
fsr-3798	305	3	may	may	AUX
fsr-3798	305	4	have	have	VERB
fsr-3798	305	5	important	important	ADJ
fsr-3798	305	6	implications	implication	NOUN
fsr-3798	305	7	for	for	ADP
fsr-3798	305	8	asset	asset	NOUN
fsr-3798	305	9	pricing	pricing	NOUN
fsr-3798	305	10	since	since	SCONJ
fsr-3798	305	11	it	it	PRON
fsr-3798	305	12	may	may	AUX
fsr-3798	305	13	imply	imply	VERB
fsr-3798	305	14	that	that	SCONJ
fsr-3798	305	15	investment	investment	NOUN
fsr-3798	305	16	managers	manager	NOUN
fsr-3798	305	17	require	require	VERB
fsr-3798	305	18	stock	stock	NOUN
fsr-3798	305	19	market	market	NOUN
fsr-3798	305	20	compensation	compensation	NOUN
fsr-3798	305	21	for	for	ADP
fsr-3798	305	22	holding	hold	VERB
fsr-3798	305	23	portfolios	portfolio	NOUN
fsr-3798	305	24	with	with	ADP
fsr-3798	305	25	unsystematic	unsystematic	ADJ
fsr-3798	305	26	risk	risk	NOUN
fsr-3798	305	27	.	.	PUNCT
fsr-3798	306	1	this	this	PRON
fsr-3798	306	2	could	could	AUX
fsr-3798	306	3	explain	explain	VERB
fsr-3798	306	4	why	why	SCONJ
fsr-3798	306	5	levy	levy	NOUN
fsr-3798	306	6	(	(	PUNCT
fsr-3798	306	7	1978	1978	NUM
fsr-3798	306	8	)	)	PUNCT
fsr-3798	306	9	and	and	CCONJ
fsr-3798	306	10	tinic	tinic	ADJ
fsr-3798	306	11	and	and	CCONJ
fsr-3798	306	12	west	west	NOUN
fsr-3798	306	13	(	(	PUNCT
fsr-3798	306	14	1986	1986	NUM
fsr-3798	306	15	)	)	PUNCT
fsr-3798	306	16	find	find	VERB
fsr-3798	306	17	unsystematic	unsystematic	ADJ
fsr-3798	306	18	risk	risk	NOUN
fsr-3798	306	19	priced	price	VERB
fsr-3798	306	20	in	in	ADP
fsr-3798	306	21	securities	security	NOUN
fsr-3798	306	22	markets	market	NOUN
fsr-3798	306	23	.	.	PUNCT
fsr-3798	307	1	managers	manager	NOUN
fsr-3798	307	2	of	of	ADP
fsr-3798	307	3	load	load	NOUN
fsr-3798	307	4	funds	fund	NOUN
fsr-3798	307	5	apparently	apparently	ADV
fsr-3798	307	6	charge	charge	VERB
fsr-3798	307	7	smaller	small	ADJ
fsr-3798	307	8	management	management	NOUN
fsr-3798	307	9	fees	fee	NOUN
fsr-3798	307	10	to	to	PART
fsr-3798	307	11	partially	partially	ADV
fsr-3798	307	12	compensate	compensate	VERB
fsr-3798	307	13	shareholders	shareholder	NOUN
fsr-3798	307	14	for	for	ADP
fsr-3798	307	15	load	load	NOUN
fsr-3798	307	16	charges	charge	NOUN
fsr-3798	307	17	.	.	PUNCT
fsr-3798	308	1	load	load	NOUN
fsr-3798	308	2	funds	fund	NOUN
fsr-3798	308	3	do	do	AUX
fsr-3798	308	4	not	not	PART
fsr-3798	308	5	perform	perform	VERB
fsr-3798	308	6	significantly	significantly	ADV
fsr-3798	308	7	better	well	ADV
fsr-3798	308	8	or	or	CCONJ
fsr-3798	308	9	worse	bad	ADJ
fsr-3798	308	10	than	than	ADP
fsr-3798	308	11	noload	noload	NOUN
fsr-3798	308	12	funds	fund	NOUN
fsr-3798	308	13	,	,	PUNCT
fsr-3798	308	14	however	however	ADV
fsr-3798	308	15	.	.	PUNCT
fsr-3798	309	1	strong	strong	ADJ
fsr-3798	309	2	competition	competition	NOUN
fsr-3798	309	3	among	among	ADP
fsr-3798	309	4	mbas	mbas	NOUN
fsr-3798	309	5	for	for	ADP
fsr-3798	309	6	fund	fund	NOUN
fsr-3798	309	7	management	management	NOUN
fsr-3798	309	8	jobs	job	NOUN
fsr-3798	309	9	could	could	AUX
fsr-3798	309	10	explain	explain	VERB
fsr-3798	309	11	why	why	SCONJ
fsr-3798	309	12	mbas	mbas	PROPN
fsr-3798	309	13	charge	charge	VERB
fsr-3798	309	14	smaller	small	ADJ
fsr-3798	309	15	management	management	NOUN
fsr-3798	309	16	fees	fee	NOUN
fsr-3798	309	17	even	even	ADV
fsr-3798	309	18	though	though	SCONJ
fsr-3798	309	19	they	they	PRON
fsr-3798	309	20	deliver	deliver	VERB
fsr-3798	309	21	larger	large	ADJ
fsr-3798	309	22	alphas	alpha	NOUN
fsr-3798	309	23	and	and	CCONJ
fsr-3798	309	24	betas	beta	NOUN
fsr-3798	309	25	and	and	CCONJ
fsr-3798	309	26	smaller	small	ADJ
fsr-3798	309	27	expenses	expense	NOUN
fsr-3798	309	28	and	and	CCONJ
fsr-3798	309	29	turnover	turnover	NOUN
fsr-3798	309	30	than	than	ADP
fsr-3798	309	31	other	other	ADJ
fsr-3798	309	32	managers	manager	NOUN
fsr-3798	309	33	.	.	PUNCT
fsr-3798	310	1	apparently	apparently	ADV
fsr-3798	310	2	,	,	PUNCT
fsr-3798	310	3	successful	successful	ADJ
fsr-3798	310	4	funds	fund	NOUN
fsr-3798	310	5	rec	rec	X
fsr-3798	310	6	ognize	ognize	VERB
fsr-3798	310	7	the	the	DET
fsr-3798	310	8	bargain	bargain	NOUN
fsr-3798	310	9	since	since	SCONJ
fsr-3798	310	10	even	even	ADV
fsr-3798	310	11	though	though	SCONJ
fsr-3798	310	12	fund	fund	NOUN
fsr-3798	310	13	managers	manager	NOUN
fsr-3798	310	14	with	with	ADP
fsr-3798	310	15	mbas	mbas	NOUN
fsr-3798	310	16	are	be	AUX
fsr-3798	310	17	on	on	ADP
fsr-3798	310	18	average	average	ADJ
fsr-3798	310	19	younger	young	ADJ
fsr-3798	310	20	(	(	PUNCT
fsr-3798	310	21	45	45	NUM
fsr-3798	310	22	vs.	vs.	ADP
fsr-3798	310	23	48	48	NUM
fsr-3798	310	24	years	year	NOUN
fsr-3798	310	25	old	old	ADJ
fsr-3798	310	26	)	)	PUNCT
fsr-3798	310	27	and	and	CCONJ
fsr-3798	310	28	less	less	ADV
fsr-3798	310	29	tenured	tenure	VERB
fsr-3798	310	30	(	(	PUNCT
fsr-3798	310	31	5.5	5.5	NUM
fsr-3798	310	32	vs.	vs.	ADP
fsr-3798	310	33	6.8	6.8	NUM
fsr-3798	310	34	years	year	NOUN
fsr-3798	310	35	)	)	PUNCT
fsr-3798	310	36	,	,	PUNCT
fsr-3798	310	37	they	they	PRON
fsr-3798	310	38	manage	manage	VERB
fsr-3798	310	39	larger	large	ADJ
fsr-3798	310	40	(	(	PUNCT
fsr-3798	310	41	$	$	SYM
fsr-3798	310	42	302	302	NUM
fsr-3798	310	43	vs.	vs.	ADP
fsr-3798	310	44	$	$	SYM
fsr-3798	310	45	228	228	NUM
fsr-3798	310	46	million	million	NUM
fsr-3798	310	47	)	)	PUNCT
fsr-3798	310	48	and	and	CCONJ
fsr-3798	310	49	older	old	ADJ
fsr-3798	310	50	(	(	PUNCT
fsr-3798	310	51	16.7	16.7	NUM
fsr-3798	310	52	vs.	vs.	ADP
fsr-3798	310	53	15.5	15.5	NUM
fsr-3798	310	54	years	year	NOUN
fsr-3798	310	55	old	old	ADJ
fsr-3798	310	56	)	)	PUNCT
fsr-3798	310	57	funds	fund	NOUN
fsr-3798	310	58	.	.	PUNCT
fsr-3798	311	1	indeed	indeed	ADV
fsr-3798	311	2	,	,	PUNCT
fsr-3798	311	3	the	the	DET
fsr-3798	311	4	competitive	competitive	ADJ
fsr-3798	311	5	strength	strength	NOUN
fsr-3798	311	6	of	of	ADP
fsr-3798	311	7	mbas	mbas	NOUN
fsr-3798	311	8	probably	probably	ADV
fsr-3798	311	9	explains	explain	VERB
fsr-3798	311	10	why	why	SCONJ
fsr-3798	311	11	they	they	PRON
fsr-3798	311	12	manage	manage	VERB
fsr-3798	311	13	64	64	NUM
fsr-3798	311	14	percent	percent	NOUN
fsr-3798	311	15	of	of	ADP
fsr-3798	311	16	all	all	DET
fsr-3798	311	17	funds	fund	NOUN
fsr-3798	311	18	.	.	PUNCT
fsr-3798	312	1	older	old	ADJ
fsr-3798	312	2	and	and	CCONJ
fsr-3798	312	3	larger	large	ADJ
fsr-3798	312	4	funds	fund	NOUN
fsr-3798	312	5	economize	economize	VERB
fsr-3798	312	6	on	on	ADP
fsr-3798	312	7	expenses	expense	NOUN
fsr-3798	312	8	,	,	PUNCT
fsr-3798	312	9	management	management	NOUN
fsr-3798	312	10	fees	fee	NOUN
fsr-3798	312	11	,	,	PUNCT
fsr-3798	312	12	and	and	CCONJ
fsr-3798	312	13	trading	trading	NOUN
fsr-3798	312	14	costs	cost	NOUN
fsr-3798	312	15	while	while	SCONJ
fsr-3798	312	16	keeping	keep	VERB
fsr-3798	312	17	beta	beta	NOUN
fsr-3798	312	18	up	up	ADP
fsr-3798	312	19	and	and	CCONJ
fsr-3798	312	20	residual	residual	ADJ
fsr-3798	312	21	return	return	NOUN
fsr-3798	312	22	variance	variance	NOUN
fsr-3798	312	23	down	down	ADV
fsr-3798	312	24	,	,	PUNCT
fsr-3798	312	25	all	all	PRON
fsr-3798	312	26	of	of	ADP
fsr-3798	312	27	which	which	PRON
fsr-3798	312	28	enhance	enhance	VERB
fsr-3798	312	29	fund	fund	NOUN
fsr-3798	312	30	sur	sur	PROPN
fsr-3798	312	31	vival	vival	NOUN
fsr-3798	312	32	and	and	CCONJ
fsr-3798	312	33	growth	growth	NOUN
fsr-3798	312	34	.	.	PUNCT
fsr-3798	313	1	finally	finally	ADV
fsr-3798	313	2	,	,	PUNCT
fsr-3798	313	3	fund	fund	NOUN
fsr-3798	313	4	objective	objective	NOUN
fsr-3798	313	5	has	have	VERB
fsr-3798	313	6	a	a	DET
fsr-3798	313	7	significant	significant	ADJ
fsr-3798	313	8	impact	impact	NOUN
fsr-3798	313	9	on	on	ADP
fsr-3798	313	10	many	many	ADJ
fsr-3798	313	11	of	of	ADP
fsr-3798	313	12	the	the	DET
fsr-3798	313	13	endoge	endoge	ADJ
fsr-3798	313	14	nous	nous	ADJ
fsr-3798	313	15	variables	variable	NOUN
fsr-3798	313	16	,	,	PUNCT
fsr-3798	313	17	hence	hence	ADV
fsr-3798	313	18	,	,	PUNCT
fsr-3798	313	19	controlling	control	VERB
fsr-3798	313	20	for	for	ADP
fsr-3798	313	21	fund	fund	NOUN
fsr-3798	313	22	type	type	NOUN
fsr-3798	313	23	is	be	AUX
fsr-3798	313	24	important	important	ADJ
fsr-3798	313	25	.	.	PUNCT
fsr-3798	314	1	acknowledgment	acknowledgment	NOUN
fsr-3798	314	2	:	:	PUNCT
fsr-3798	315	1	i	i	PRON
fsr-3798	315	2	would	would	AUX
fsr-3798	315	3	like	like	VERB
fsr-3798	315	4	to	to	PART
fsr-3798	315	5	thank	thank	VERB
fsr-3798	315	6	nick	nick	PROPN
fsr-3798	315	7	bramante	bramante	PROPN
fsr-3798	315	8	for	for	ADP
fsr-3798	315	9	help	help	NOUN
fsr-3798	315	10	gathering	gather	VERB
fsr-3798	315	11	data	datum	NOUN
fsr-3798	315	12	and	and	CCONJ
fsr-3798	315	13	diane	diane	PROPN
fsr-3798	315	14	adams	adams	PROPN
fsr-3798	315	15	,	,	PUNCT
fsr-3798	315	16	maurry	maurry	VERB
fsr-3798	315	17	tamarkin	tamarkin	ADJ
fsr-3798	315	18	,	,	PUNCT
fsr-3798	315	19	three	three	NUM
fsr-3798	315	20	referees	referee	NOUN
fsr-3798	315	21	and	and	CCONJ
fsr-3798	315	22	the	the	DET
fsr-3798	315	23	editor	editor	NOUN
fsr-3798	315	24	for	for	ADP
fsr-3798	315	25	helpful	helpful	ADJ
fsr-3798	315	26	comments	comment	NOUN
fsr-3798	315	27	.	.	PUNCT
fsr-3798	316	1	references	reference	NOUN
fsr-3798	316	2	amihud	amihud	PROPN
fsr-3798	316	3	,	,	PUNCT
fsr-3798	316	4	yakov	yakov	PROPN
fsr-3798	316	5	,	,	PUNCT
fsr-3798	316	6	&	&	CCONJ
fsr-3798	316	7	lev	lev	NOUN
fsr-3798	316	8	,	,	PUNCT
fsr-3798	316	9	baruch	baruch	ADJ
fsr-3798	316	10	.	.	PUNCT
fsr-3798	317	1	(	(	PUNCT
fsr-3798	317	2	1981	1981	NUM
fsr-3798	317	3	)	)	PUNCT
fsr-3798	317	4	.	.	PUNCT
fsr-3798	318	1	risk	risk	NOUN
fsr-3798	318	2	reduction	reduction	NOUN
fsr-3798	318	3	as	as	ADP
fsr-3798	318	4	a	a	DET
fsr-3798	318	5	managerial	managerial	ADJ
fsr-3798	318	6	motive	motive	NOUN
fsr-3798	318	7	for	for	ADP
fsr-3798	318	8	conglomerate	conglomerate	NOUN
fsr-3798	318	9	mergers	merger	NOUN
fsr-3798	318	10	.	.	PUNCT
fsr-3798	319	1	the	the	DET
fsr-3798	319	2	bell	bell	PROPN
fsr-3798	319	3	journal	journal	PROPN
fsr-3798	319	4	of	of	ADP
fsr-3798	319	5	economics	economic	NOUN
fsr-3798	319	6	,	,	PUNCT
fsr-3798	319	7	autumn	autumn	NOUN
fsr-3798	319	8	,	,	PUNCT
fsr-3798	319	9	60.5617	60.5617	NUM
fsr-3798	319	10	.	.	PUNCT
fsr-3798	320	1	amihud	amihud	PROPN
fsr-3798	320	2	,	,	PUNCT
fsr-3798	320	3	yakov	yakov	PROPN
fsr-3798	320	4	,	,	PUNCT
fsr-3798	320	5	kamin	kamin	PROPN
fsr-3798	320	6	,	,	PUNCT
fsr-3798	320	7	jacob	jacob	PROPN
fsr-3798	320	8	y.	y.	PROPN
fsr-3798	320	9	,	,	PUNCT
fsr-3798	320	10	&	&	CCONJ
fsr-3798	320	11	ronen	ronen	PROPN
fsr-3798	320	12	,	,	PUNCT
fsr-3798	320	13	joshua	joshua	PROPN
fsr-3798	320	14	.	.	PUNCT
fsr-3798	321	1	(	(	PUNCT
fsr-3798	321	2	1983	1983	NUM
fsr-3798	321	3	)	)	PUNCT
fsr-3798	321	4	.	.	PUNCT
fsr-3798	322	1	‘	'	PUNCT
fsr-3798	322	2	managerialism	managerialism	NOUN
fsr-3798	322	3	,	,	PUNCT
fsr-3798	322	4	’	'	PUNCT
fsr-3798	322	5	‘	'	PUNCT
fsr-3798	322	6	ownerism	ownerism	NOUN
fsr-3798	322	7	’	'	PUNCT
fsr-3798	322	8	and	and	CCONJ
fsr-3798	322	9	risk	risk	NOUN
fsr-3798	322	10	.	.	PUNCT
fsr-3798	323	1	journal	journal	NOUN
fsr-3798	323	2	of	of	ADP
fsr-3798	323	3	banking	banking	NOUN
fsr-3798	323	4	and	and	CCONJ
fsr-3798	323	5	finance	finance	NOUN
fsr-3798	323	6	,	,	PUNCT
fsr-3798	323	7	7	7	NUM
fsr-3798	323	8	,	,	PUNCT
fsr-3798	323	9	189	189	NUM
fsr-3798	323	10	-	-	SYM
fsr-3798	323	11	196	196	NUM
fsr-3798	323	12	.	.	PUNCT
fsr-3798	324	1	barry	barry	PROPN
fsr-3798	324	2	,	,	PUNCT
fsr-3798	324	3	christopher	christopher	PROPN
fsr-3798	324	4	b.	b.	PROPN
fsr-3798	324	5	,	,	PUNCT
fsr-3798	324	6	&	&	CCONJ
fsr-3798	324	7	starks	starks	PROPN
fsr-3798	324	8	,	,	PUNCT
fsr-3798	324	9	laura	laura	NOUN
fsr-3798	324	10	t.	t.	PROPN
fsr-3798	324	11	(	(	PUNCT
fsr-3798	324	12	1984	1984	NUM
fsr-3798	324	13	)	)	PUNCT
fsr-3798	324	14	.	.	PUNCT
fsr-3798	325	1	investment	investment	NOUN
fsr-3798	325	2	management	management	NOUN
fsr-3798	325	3	and	and	CCONJ
fsr-3798	325	4	risk	risk	NOUN
fsr-3798	325	5	sharing	sharing	NOUN
fsr-3798	325	6	with	with	ADP
fsr-3798	325	7	multiple	multiple	ADJ
fsr-3798	325	8	managers	manager	NOUN
fsr-3798	325	9	.	.	PUNCT
fsr-3798	326	1	journal	journal	PROPN
fsr-3798	326	2	offinance	offinance	NOUN
fsr-3798	326	3	,	,	PUNCT
fsr-3798	326	4	39(june	39(june	NUM
fsr-3798	326	5	)	)	PUNCT
fsr-3798	326	6	,	,	PUNCT
fsr-3798	326	7	477	477	NUM
fsr-3798	326	8	-	-	SYM
fsr-3798	326	9	491	491	NUM
fsr-3798	326	10	.	.	PUNCT
fsr-3798	327	1	becker	becker	PROPN
fsr-3798	327	2	,	,	PUNCT
fsr-3798	327	3	gary	gary	PROPN
fsr-3798	327	4	s.	s.	PROPN
fsr-3798	327	5	(	(	PUNCT
fsr-3798	327	6	1964	1964	NUM
fsr-3798	327	7	)	)	PUNCT
fsr-3798	327	8	.	.	PUNCT
fsr-3798	328	1	human	human	ADJ
fsr-3798	328	2	capital	capital	NOUN
fsr-3798	328	3	:	:	PUNCT
fsr-3798	328	4	a	a	DET
fsr-3798	328	5	theoretical	theoretical	ADJ
fsr-3798	328	6	and	and	CCONJ
fsr-3798	328	7	empirical	empirical	ADJ
fsr-3798	328	8	analysis	analysis	NOUN
fsr-3798	328	9	,	,	PUNCT
fsr-3798	328	10	with	with	ADP
fsr-3798	328	11	special	special	ADJ
fsr-3798	328	12	reference	reference	NOUN
fsr-3798	328	13	to	to	ADP
fsr-3798	328	14	education	education	NOUN
fsr-3798	328	15	.	.	PUNCT
fsr-3798	329	1	new	new	PROPN
fsr-3798	329	2	york	york	PROPN
fsr-3798	329	3	:	:	PUNCT
fsr-3798	329	4	columbia	columbia	PROPN
fsr-3798	329	5	university	university	PROPN
fsr-3798	329	6	press	press	NOUN
fsr-3798	329	7	(	(	PUNCT
fsr-3798	329	8	for	for	ADP
fsr-3798	329	9	nber	nber	PROPN
fsr-3798	329	10	)	)	PUNCT
fsr-3798	329	11	.	.	PUNCT
fsr-3798	330	1	black	black	ADJ
fsr-3798	330	2	,	,	PUNCT
fsr-3798	330	3	fisher	fisher	PROPN
fsr-3798	330	4	.	.	PUNCT
fsr-3798	331	1	(	(	PUNCT
fsr-3798	331	2	1986	1986	NUM
fsr-3798	331	3	)	)	PUNCT
fsr-3798	331	4	.	.	PUNCT
fsr-3798	332	1	noise	noise	NOUN
fsr-3798	332	2	.	.	PUNCT
fsr-3798	333	1	journal	journal	PROPN
fsr-3798	333	2	of	of	ADP
fsr-3798	333	3	finance	finance	NOUN
fsr-3798	333	4	,	,	PUNCT
fsr-3798	333	5	4i(july	4i(july	NUM
fsr-3798	333	6	)	)	PUNCT
fsr-3798	333	7	,	,	PUNCT
fsr-3798	333	8	529	529	NUM
fsr-3798	333	9	-	-	SYM
fsr-3798	333	10	543	543	NUM
fsr-3798	333	11	.	.	PUNCT
fsr-3798	333	12	brown	brown	PROPN
fsr-3798	333	13	,	,	PUNCT
fsr-3798	333	14	keith	keith	PROPN
fsr-3798	333	15	c.	c.	PROPN
fsr-3798	333	16	,	,	PUNCT
fsr-3798	333	17	harlow	harlow	PROPN
fsr-3798	333	18	,	,	PUNCT
fsr-3798	333	19	w.v	w.v	PROPN
fsr-3798	333	20	.	.	PROPN
fsr-3798	333	21	,	,	PUNCT
fsr-3798	333	22	&	&	CCONJ
fsr-3798	333	23	starks	starks	PROPN
fsr-3798	333	24	,	,	PUNCT
fsr-3798	333	25	laura	laura	NOUN
fsr-3798	333	26	t.	t.	PROPN
fsr-3798	333	27	(	(	PUNCT
fsr-3798	333	28	1996	1996	NUM
fsr-3798	333	29	)	)	PUNCT
fsr-3798	333	30	.	.	PUNCT
fsr-3798	334	1	of	of	ADP
fsr-3798	334	2	tournaments	tournament	NOUN
fsr-3798	334	3	and	and	CCONJ
fsr-3798	334	4	temptations	temptation	NOUN
fsr-3798	334	5	:	:	PUNCT
fsr-3798	334	6	an	an	DET
fsr-3798	334	7	analysis	analysis	NOUN
fsr-3798	334	8	of	of	ADP
fsr-3798	334	9	managerial	managerial	ADJ
fsr-3798	334	10	incentives	incentive	NOUN
fsr-3798	334	11	in	in	ADP
fsr-3798	334	12	the	the	DET
fsr-3798	334	13	mutual	mutual	ADJ
fsr-3798	334	14	fund	fund	NOUN
fsr-3798	334	15	industry	industry	NOUN
fsr-3798	334	16	.	.	PUNCT
fsr-3798	335	1	journal	journal	PROPN
fsr-3798	335	2	of	of	ADP
fsr-3798	335	3	finance	finance	NOUN
fsr-3798	335	4	,	,	PUNCT
fsr-3798	335	5	si(march	si(march	PROPN
fsr-3798	335	6	)	)	PUNCT
fsr-3798	335	7	,	,	PUNCT
fsr-3798	335	8	85	85	NUM
fsr-3798	335	9	-	-	PUNCT
fsr-3798	335	10	l	l	NOUN
fsr-3798	335	11	10	10	NUM
fsr-3798	335	12	.	.	PUNCT
fsr-3798	336	1	brown	brown	PROPN
fsr-3798	336	2	,	,	PUNCT
fsr-3798	336	3	stephen	stephen	PROPN
fsr-3798	336	4	j.	j.	PROPN
fsr-3798	336	5	,	,	PUNCT
fsr-3798	336	6	goetzmann	goetzmann	PROPN
fsr-3798	336	7	,	,	PUNCT
fsr-3798	336	8	william	william	PROPN
fsr-3798	336	9	,	,	PUNCT
fsr-3798	336	10	ibbotson	ibbotson	PROPN
fsr-3798	336	11	,	,	PUNCT
fsr-3798	336	12	roger	roger	PROPN
fsr-3798	336	13	g.	g.	PROPN
fsr-3798	336	14	,	,	PUNCT
fsr-3798	336	15	&	&	CCONJ
fsr-3798	336	16	ross	ross	PROPN
fsr-3798	336	17	,	,	PUNCT
fsr-3798	336	18	stephen	stephen	PROPN
fsr-3798	336	19	a.	a.	PROPN
fsr-3798	336	20	(	(	PUNCT
fsr-3798	336	21	1992	1992	NUM
fsr-3798	336	22	)	)	PUNCT
fsr-3798	336	23	.	.	PUNCT
fsr-3798	337	1	survivor	survivor	NOUN
fsr-3798	337	2	ship	ship	NOUN
fsr-3798	337	3	bias	bias	NOUN
fsr-3798	337	4	in	in	ADP
fsr-3798	337	5	performance	performance	NOUN
fsr-3798	337	6	studies	study	NOUN
fsr-3798	337	7	.	.	PUNCT
fsr-3798	338	1	review	review	NOUN
fsr-3798	338	2	of	of	ADP
fsr-3798	338	3	financial	financial	ADJ
fsr-3798	338	4	studies	study	NOUN
fsr-3798	338	5	,	,	PUNCT
fsr-3798	338	6	5,553	5,553	NUM
fsr-3798	338	7	-	-	SYM
fsr-3798	338	8	580	580	NUM
fsr-3798	338	9	.	.	PUNCT
fsr-3798	339	1	cohen	cohen	PROPN
fsr-3798	339	2	,	,	PUNCT
fsr-3798	339	3	susan	susan	PROPN
fsr-3798	339	4	i	i	PROPN
fsr-3798	339	5	,	,	PUNCT
fsr-3798	339	6	&	&	CCONJ
fsr-3798	339	7	starks	starks	PROPN
fsr-3798	339	8	,	,	PUNCT
fsr-3798	339	9	laura	laura	NOUN
fsr-3798	339	10	t.	t.	PROPN
fsr-3798	339	11	(	(	PUNCT
fsr-3798	339	12	1988	1988	NUM
fsr-3798	339	13	)	)	PUNCT
fsr-3798	339	14	.	.	PUNCT
fsr-3798	340	1	estimation	estimation	NOUN
fsr-3798	340	2	risk	risk	NOUN
fsr-3798	340	3	and	and	CCONJ
fsr-3798	340	4	contracts	contract	NOUN
fsr-3798	340	5	for	for	ADP
fsr-3798	340	6	portfolio	portfolio	NOUN
fsr-3798	340	7	managers	manager	NOUN
fsr-3798	340	8	.	.	PUNCT
fsr-3798	341	1	management	management	NOUN
fsr-3798	341	2	science	science	NOUN
fsr-3798	341	3	,	,	PUNCT
fsr-3798	341	4	34(september	34(september	NUM
fsr-3798	341	5	)	)	PUNCT
fsr-3798	341	6	,	,	PUNCT
fsr-3798	341	7	1067	1067	NUM
fsr-3798	341	8	-	-	SYM
fsr-3798	341	9	108	108	NUM
fsr-3798	341	10	1	1	NUM
fsr-3798	341	11	.	.	PUNCT
fsr-3798	342	1	dechow	dechow	ADJ
fsr-3798	342	2	,	,	PUNCT
fsr-3798	342	3	patricia	patricia	PROPN
fsr-3798	342	4	m.	m.	NOUN
fsr-3798	342	5	,	,	PUNCT
fsr-3798	342	6	&	&	CCONJ
fsr-3798	342	7	sloan	sloan	PROPN
fsr-3798	342	8	,	,	PUNCT
fsr-3798	342	9	richard	richard	PROPN
fsr-3798	342	10	g.	g.	PROPN
fsr-3798	342	11	(	(	PUNCT
fsr-3798	342	12	1991	1991	NUM
fsr-3798	342	13	)	)	PUNCT
fsr-3798	342	14	.	.	PUNCT
fsr-3798	343	1	executive	executive	ADJ
fsr-3798	343	2	incentives	incentive	NOUN
fsr-3798	343	3	and	and	CCONJ
fsr-3798	343	4	the	the	DET
fsr-3798	343	5	horizon	horizon	NOUN
fsr-3798	343	6	problem	problem	NOUN
fsr-3798	343	7	.	.	PUNCT
fsr-3798	344	1	journal	journal	NOUN
fsr-3798	344	2	of	of	ADP
fsr-3798	344	3	accounting	accounting	NOUN
fsr-3798	344	4	and	and	CCONJ
fsr-3798	344	5	economics	economic	NOUN
fsr-3798	344	6	,	,	PUNCT
fsr-3798	344	7	14,51	14,51	NUM
fsr-3798	344	8	-	-	SYM
fsr-3798	344	9	89	89	NUM
fsr-3798	344	10	.	.	PUNCT