id	sid	tid	token	lemma	pos
fsr-3804	1	1	pii	pii	PROPN
fsr-3804	1	2	:	:	PUNCT
fsr-3804	1	3	s1057	s1057	NOUN
fsr-3804	1	4	-	-	PUNCT
fsr-3804	1	5	0810(97)90028	0810(97)90028	NUM
fsr-3804	1	6	-	-	PUNCT
fsr-3804	1	7	7	7	NUM
fsr-3804	1	8	financial	financial	ADJ
fsr-3804	1	9	services	service	NOUN
fsr-3804	1	10	review	review	NOUN
fsr-3804	1	11	,	,	PUNCT
fsr-3804	1	12	6(i	6(i	NUM
fsr-3804	1	13	):	):	PUNCT
fsr-3804	1	14	1	1	NUM
fsr-3804	1	15	-	-	SYM
fsr-3804	1	16	17	17	NUM
fsr-3804	1	17	issn	issn	NOUN
fsr-3804	1	18	:	:	PUNCT
fsr-3804	1	19	1057	1057	NUM
fsr-3804	1	20	-	-	SYM
fsr-3804	1	21	0810	0810	NUM
fsr-3804	1	22	copyright	copyright	NOUN
fsr-3804	1	23	©	©	ADP
fsr-3804	1	24	1997	1997	NUM
fsr-3804	1	25	by	by	ADP
fsr-3804	1	26	jai	jai	PROPN
fsr-3804	1	27	press	press	PROPN
fsr-3804	1	28	inc	inc	PROPN
fsr-3804	1	29	.	.	PUNCT
fsr-3804	2	1	all	all	DET
fsr-3804	2	2	rights	right	NOUN
fsr-3804	2	3	of	of	ADP
fsr-3804	2	4	reproduction	reproduction	NOUN
fsr-3804	2	5	in	in	ADP
fsr-3804	2	6	any	any	DET
fsr-3804	2	7	form	form	NOUN
fsr-3804	2	8	reserved	reserve	VERB
fsr-3804	2	9	.	.	PUNCT
fsr-3804	3	1	the	the	DET
fsr-3804	3	2	impact	impact	NOUN
fsr-3804	3	3	of	of	ADP
fsr-3804	3	4	inflation	inflation	NOUN
fsr-3804	3	5	on	on	ADP
fsr-3804	3	6	roe	roe	NOUN
fsr-3804	3	7	,	,	PUNCT
fsr-3804	3	8	growth	growth	NOUN
fsr-3804	3	9	and	and	CCONJ
fsr-3804	3	10	stock	stock	NOUN
fsr-3804	3	11	prices	price	NOUN
fsr-3804	3	12	frank	frank	PROPN
fsr-3804	3	13	k.	k.	PROPN
fsr-3804	3	14	reilly	reilly	PROPN
fsr-3804	3	15	using	use	VERB
fsr-3804	3	16	the	the	DET
fsr-3804	3	17	constant	constant	ADJ
fsr-3804	3	18	growth	growth	NOUN
fsr-3804	3	19	dividend	dividend	NOUN
fsr-3804	3	20	discount	discount	NOUN
fsr-3804	3	21	model	model	NOUN
fsr-3804	3	22	(	(	PUNCT
fsr-3804	3	23	ddm	ddm	PROPN
fsr-3804	3	24	)	)	PUNCT
fsr-3804	3	25	,	,	PUNCT
fsr-3804	3	26	it	it	PRON
fsr-3804	3	27	can	can	AUX
fsr-3804	3	28	be	be	AUX
fsr-3804	3	29	shown	show	VERB
fsr-3804	3	30	that	that	SCONJ
fsr-3804	3	31	the	the	DET
fsr-3804	3	32	critical	critical	ADJ
fsr-3804	3	33	factor	factor	NOUN
fsr-3804	3	34	which	which	PRON
fsr-3804	3	35	determines	determine	VERB
fsr-3804	3	36	whether	whether	SCONJ
fsr-3804	3	37	common	common	ADJ
fsr-3804	3	38	stocks	stock	NOUN
fsr-3804	3	39	will	will	AUX
fsr-3804	3	40	be	be	AUX
fsr-3804	3	41	able	able	ADJ
fsr-3804	3	42	to	to	PART
fsr-3804	3	43	be	be	AUX
fsr-3804	3	44	an	an	DET
fsr-3804	3	45	inflation	inflation	NOUN
fsr-3804	3	46	hedge	hedge	NOUN
fsr-3804	3	47	is	be	AUX
fsr-3804	3	48	the	the	DET
fsr-3804	3	49	growth	growth	NOUN
fsr-3804	3	50	rate	rate	NOUN
fsr-3804	3	51	o	o	PROPN
fsr-3804	3	52	f	f	PROPN
fsr-3804	3	53	dividends	dividend	NOUN
fsr-3804	3	54	.	.	PUNCT
fsr-3804	4	1	in	in	ADP
fsr-3804	4	2	turn	turn	NOUN
fsr-3804	4	3	,	,	PUNCT
fsr-3804	4	4	the	the	DET
fsr-3804	4	5	growth	growth	NOUN
fsr-3804	4	6	of	of	ADP
fsr-3804	4	7	dividends	dividend	NOUN
fsr-3804	4	8	is	be	AUX
fsr-3804	4	9	mainly	mainly	ADV
fsr-3804	4	10	impacted	impact	VERB
fsr-3804	4	11	by	by	ADP
fsr-3804	4	12	the	the	DET
fsr-3804	4	13	aggregate	aggregate	ADJ
fsr-3804	4	14	return	return	NOUN
fsr-3804	4	15	on	on	ADP
fsr-3804	4	16	equity	equity	NOUN
fsr-3804	4	17	(	(	PUNCT
fsr-3804	4	18	roe	roe	PROPN
fsr-3804	4	19	)	)	PUNCT
fsr-3804	4	20	.	.	PUNCT
fsr-3804	5	1	using	use	VERB
fsr-3804	5	2	the	the	DET
fsr-3804	5	3	dupont	dupont	NOUN
fsr-3804	5	4	formula	formula	NOUN
fsr-3804	5	5	,	,	PUNCT
fsr-3804	5	6	it	it	PRON
fsr-3804	5	7	is	be	AUX
fsr-3804	5	8	clear	clear	ADJ
fsr-3804	5	9	that	that	SCONJ
fsr-3804	5	10	the	the	DET
fsr-3804	5	11	main	main	ADJ
fsr-3804	5	12	variable	variable	NOUN
fsr-3804	5	13	that	that	PRON
fsr-3804	5	14	drives	drive	VERB
fsr-3804	5	15	the	the	DET
fsr-3804	5	16	aggregate	aggregate	ADJ
fsr-3804	5	17	roe	roe	NOUN
fsr-3804	5	18	in	in	ADP
fsr-3804	5	19	an	an	DET
fsr-3804	5	20	inflationary	inflationary	ADJ
fsr-3804	5	21	environ	environ	X
fsr-3804	5	22	ment	ment	NOUN
fsr-3804	5	23	is	be	AUX
fsr-3804	5	24	the	the	DET
fsr-3804	5	25	profit	profit	NOUN
fsr-3804	5	26	margin	margin	NOUN
fsr-3804	5	27	.	.	PUNCT
fsr-3804	6	1	following	follow	VERB
fsr-3804	6	2	from	from	ADP
fsr-3804	6	3	this	this	DET
fsr-3804	6	4	background	background	NOUN
fsr-3804	6	5	,	,	PUNCT
fsr-3804	6	6	this	this	DET
fsr-3804	6	7	article	article	NOUN
fsr-3804	6	8	updates	update	VERB
fsr-3804	6	9	and	and	CCONJ
fsr-3804	6	10	extends	extend	VERB
fsr-3804	6	11	an	an	DET
fsr-3804	6	12	earlier	early	ADJ
fsr-3804	6	13	analysis	analysis	NOUN
fsr-3804	6	14	that	that	PRON
fsr-3804	6	15	involves	involve	VERB
fsr-3804	6	16	an	an	DET
fsr-3804	6	17	analysis	analysis	NOUN
fsr-3804	6	18	of	of	ADP
fsr-3804	6	19	roe	roe	NOUN
fsr-3804	6	20	and	and	CCONJ
fsr-3804	6	21	its	its	PRON
fsr-3804	6	22	components	component	NOUN
fsr-3804	6	23	for	for	ADP
fsr-3804	6	24	the	the	DET
fsr-3804	6	25	40	40	NUM
fsr-3804	6	26	-	-	PUNCT
fsr-3804	6	27	year	year	NOUN
fsr-3804	6	28	period	period	NOUN
fsr-3804	6	29	1956	1956	NUM
fsr-3804	6	30	-	-	SYM
fsr-3804	6	31	1995	1995	NUM
fsr-3804	6	32	.	.	PUNCT
fsr-3804	7	1	the	the	DET
fsr-3804	7	2	analysis	analysis	NOUN
fsr-3804	7	3	demonstrates	demonstrate	VERB
fsr-3804	7	4	that	that	SCONJ
fsr-3804	7	5	the	the	DET
fsr-3804	7	6	aggregate	aggregate	ADJ
fsr-3804	7	7	roe	roe	NOUN
fsr-3804	7	8	is	be	AUX
fsr-3804	7	9	currently	currently	ADV
fsr-3804	7	10	at	at	ADP
fsr-3804	7	11	about	about	ADV
fsr-3804	7	12	the	the	DET
fsr-3804	7	13	same	same	ADJ
fsr-3804	7	14	level	level	NOUN
fsr-3804	7	15	as	as	ADP
fsr-3804	7	16	in	in	ADP
fsr-3804	7	17	the	the	DET
fsr-3804	7	18	1960	1960	NUM
fsr-3804	7	19	's	's	PART
fsr-3804	7	20	,	,	PUNCT
fsr-3804	7	21	but	but	CCONJ
fsr-3804	7	22	the	the	DET
fsr-3804	7	23	components	component	NOUN
fsr-3804	7	24	have	have	AUX
fsr-3804	7	25	changed	change	VERB
fsr-3804	7	26	,	,	PUNCT
fsr-3804	7	27	that	that	ADV
fsr-3804	7	28	is	is	ADV
fsr-3804	7	29	,	,	PUNCT
fsr-3804	7	30	there	there	PRON
fsr-3804	7	31	has	have	AUX
fsr-3804	7	32	been	be	AUX
fsr-3804	7	33	a	a	DET
fsr-3804	7	34	decline	decline	NOUN
fsr-3804	7	35	in	in	ADP
fsr-3804	7	36	total	total	ADJ
fsr-3804	7	37	asset	asset	NOUN
fsr-3804	7	38	turnover	turnover	NOUN
fsr-3804	7	39	and	and	CCONJ
fsr-3804	7	40	profit	profit	NOUN
fsr-3804	7	41	margin	margin	NOUN
fsr-3804	7	42	,	,	PUNCT
fsr-3804	7	43	but	but	CCONJ
fsr-3804	7	44	a	a	DET
fsr-3804	7	45	significant	significant	ADJ
fsr-3804	7	46	increase	increase	NOUN
fsr-3804	7	47	in	in	ADP
fsr-3804	7	48	financial	financial	ADJ
fsr-3804	7	49	leverage	leverage	NOUN
fsr-3804	7	50	that	that	PRON
fsr-3804	7	51	has	have	AUX
fsr-3804	7	52	compensated	compensate	VERB
fsr-3804	7	53	for	for	ADP
fsr-3804	7	54	the	the	DET
fsr-3804	7	55	declines	decline	NOUN
fsr-3804	7	56	in	in	ADP
fsr-3804	7	57	turnover	turnover	NOUN
fsr-3804	7	58	and	and	CCONJ
fsr-3804	7	59	profit	profit	NOUN
fsr-3804	7	60	margin	margin	NOUN
fsr-3804	7	61	.	.	PUNCT
fsr-3804	8	1	it	it	PRON
fsr-3804	8	2	is	be	AUX
fsr-3804	8	3	further	far	ADV
fsr-3804	8	4	shown	show	VERB
fsr-3804	8	5	that	that	SCONJ
fsr-3804	8	6	there	there	PRON
fsr-3804	8	7	have	have	AUX
fsr-3804	8	8	been	be	AUX
fsr-3804	8	9	periods	period	NOUN
fsr-3804	8	10	ofhigh	ofhigh	ADJ
fsr-3804	8	11	and	and	CCONJ
fsr-3804	8	12	low	low	ADJ
fsr-3804	8	13	inflation	inflation	NOUN
fsr-3804	8	14	since	since	SCONJ
fsr-3804	8	15	1956	1956	NUM
fsr-3804	8	16	,	,	PUNCT
fsr-3804	8	17	and	and	CCONJ
fsr-3804	8	18	the	the	DET
fsr-3804	8	19	negative	negative	ADJ
fsr-3804	8	20	impact	impact	NOUN
fsr-3804	8	21	of	of	ADP
fsr-3804	8	22	inflation	inflation	NOUN
fsr-3804	8	23	of	of	ADP
fsr-3804	8	24	the	the	DET
fsr-3804	8	25	implied	imply	VERB
fsr-3804	8	26	growth	growth	NOUN
fsr-3804	8	27	rate	rate	NOUN
fsr-3804	8	28	is	be	AUX
fsr-3804	8	29	confirmed	confirm	VERB
fsr-3804	8	30	,	,	PUNCT
fsr-3804	8	31	which	which	PRON
fsr-3804	8	32	helps	help	VERB
fsr-3804	8	33	explain	explain	VERB
fsr-3804	8	34	why	why	SCONJ
fsr-3804	8	35	investigators	investigator	NOUN
fsr-3804	8	36	find	find	VERB
fsr-3804	8	37	consistent	consistent	ADJ
fsr-3804	8	38	empirical	empirical	ADJ
fsr-3804	8	39	results	result	NOUN
fsr-3804	8	40	that	that	PRON
fsr-3804	8	41	common	common	ADJ
fsr-3804	8	42	stocks	stock	NOUN
fsr-3804	8	43	are	be	AUX
fsr-3804	8	44	poor	poor	ADJ
fsr-3804	8	45	inflation	inflation	NOUN
fsr-3804	8	46	hedges	hedge	NOUN
fsr-3804	8	47	.	.	PUNCT
fsr-3804	9	1	i.	i.	PROPN
fsr-3804	9	2	introduction	introduction	NOUN
fsr-3804	9	3	an	an	DET
fsr-3804	9	4	article	article	NOUN
fsr-3804	9	5	by	by	ADP
fsr-3804	9	6	fuller	full	ADJ
fsr-3804	9	7	and	and	CCONJ
fsr-3804	9	8	petty	petty	ADJ
fsr-3804	9	9	(	(	PUNCT
fsr-3804	9	10	f&p	f&p	PROPN
fsr-3804	9	11	,	,	PUNCT
fsr-3804	9	12	1981	1981	NUM
fsr-3804	9	13	)	)	PUNCT
fsr-3804	9	14	using	use	VERB
fsr-3804	9	15	data	datum	NOUN
fsr-3804	9	16	through	through	ADP
fsr-3804	9	17	1979	1979	NUM
fsr-3804	9	18	considered	consider	VERB
fsr-3804	9	19	the	the	DET
fsr-3804	9	20	ability	ability	NOUN
fsr-3804	9	21	of	of	ADP
fsr-3804	9	22	common	common	ADJ
fsr-3804	9	23	stocks	stock	NOUN
fsr-3804	9	24	to	to	PART
fsr-3804	9	25	provide	provide	VERB
fsr-3804	9	26	a	a	DET
fsr-3804	9	27	hedge	hedge	NOUN
fsr-3804	9	28	against	against	ADP
fsr-3804	9	29	inflation	inflation	NOUN
fsr-3804	9	30	.	.	PUNCT
fsr-3804	10	1	using	use	VERB
fsr-3804	10	2	the	the	DET
fsr-3804	10	3	constant	constant	ADJ
fsr-3804	10	4	growth	growth	NOUN
fsr-3804	10	5	dividend	dividend	NOUN
fsr-3804	10	6	discount	discount	NOUN
fsr-3804	10	7	model	model	NOUN
fsr-3804	10	8	(	(	PUNCT
fsr-3804	10	9	ddm	ddm	PROPN
fsr-3804	10	10	)	)	PUNCT
fsr-3804	10	11	,	,	PUNCT
fsr-3804	10	12	it	it	PRON
fsr-3804	10	13	was	be	AUX
fsr-3804	10	14	shown	show	VERB
fsr-3804	10	15	that	that	SCONJ
fsr-3804	10	16	the	the	DET
fsr-3804	10	17	critical	critical	ADJ
fsr-3804	10	18	factor	factor	NOUN
fsr-3804	10	19	which	which	PRON
fsr-3804	10	20	determined	determine	VERB
fsr-3804	10	21	whether	whether	SCONJ
fsr-3804	10	22	common	common	ADJ
fsr-3804	10	23	stocks	stock	NOUN
fsr-3804	10	24	would	would	AUX
fsr-3804	10	25	provide	provide	VERB
fsr-3804	10	26	the	the	DET
fsr-3804	10	27	higher	high	ADJ
fsr-3804	10	28	rates	rate	NOUN
fsr-3804	10	29	of	of	ADP
fsr-3804	10	30	return	return	NOUN
fsr-3804	10	31	required	require	VERB
fsr-3804	10	32	of	of	ADP
fsr-3804	10	33	an	an	DET
fsr-3804	10	34	inflation	inflation	NOUN
fsr-3804	10	35	hedge	hedge	NOUN
fsr-3804	10	36	is	be	AUX
fsr-3804	10	37	the	the	DET
fsr-3804	10	38	growth	growth	NOUN
fsr-3804	10	39	rate	rate	NOUN
fsr-3804	10	40	of	of	ADP
fsr-3804	10	41	dividends	dividend	NOUN
fsr-3804	10	42	(	(	PUNCT
fsr-3804	10	43	g	g	NOUN
fsr-3804	10	44	)	)	PUNCT
fsr-3804	10	45	.	.	PUNCT
fsr-3804	11	1	in	in	ADP
fsr-3804	11	2	turn	turn	NOUN
fsr-3804	11	3	,	,	PUNCT
fsr-3804	11	4	it	it	PRON
fsr-3804	11	5	is	be	AUX
fsr-3804	11	6	known	know	VERB
fsr-3804	11	7	from	from	ADP
fsr-3804	11	8	babcock	babcock	PROPN
fsr-3804	11	9	(	(	PUNCT
fsr-3804	11	10	1970	1970	NUM
fsr-3804	11	11	)	)	PUNCT
fsr-3804	11	12	that	that	SCONJ
fsr-3804	11	13	g	g	PROPN
fsr-3804	11	14	is	be	AUX
fsr-3804	11	15	a	a	DET
fsr-3804	11	16	func	func	ADJ
fsr-3804	11	17	tion	tion	NOUN
fsr-3804	11	18	of	of	ADP
fsr-3804	11	19	the	the	DET
fsr-3804	11	20	retention	retention	NOUN
fsr-3804	11	21	rate	rate	NOUN
fsr-3804	11	22	and	and	CCONJ
fsr-3804	11	23	the	the	DET
fsr-3804	11	24	return	return	NOUN
fsr-3804	11	25	on	on	ADP
fsr-3804	11	26	equity	equity	NOUN
fsr-3804	11	27	(	(	PUNCT
fsr-3804	11	28	roe	roe	PROPN
fsr-3804	11	29	)	)	PUNCT
fsr-3804	11	30	.	.	PUNCT
fsr-3804	12	1	finally	finally	ADV
fsr-3804	12	2	,	,	PUNCT
fsr-3804	12	3	they	they	PRON
fsr-3804	12	4	employed	employ	VERB
fsr-3804	12	5	the	the	DET
fsr-3804	12	6	dupont	dupont	NOUN
fsr-3804	12	7	formula	formula	NOUN
fsr-3804	12	8	which	which	PRON
fsr-3804	12	9	shows	show	VERB
fsr-3804	12	10	that	that	SCONJ
fsr-3804	12	11	roe	roe	PROPN
fsr-3804	12	12	is	be	AUX
fsr-3804	12	13	composed	compose	VERB
fsr-3804	12	14	of	of	ADP
fsr-3804	12	15	:	:	PUNCT
fsr-3804	12	16	(	(	PUNCT
fsr-3804	12	17	a	a	X
fsr-3804	12	18	)	)	PUNCT
fsr-3804	12	19	the	the	DET
fsr-3804	12	20	net	net	ADJ
fsr-3804	12	21	profit	profit	NOUN
fsr-3804	12	22	margin	margin	NOUN
fsr-3804	12	23	(	(	PUNCT
fsr-3804	12	24	pm	pm	NOUN
fsr-3804	12	25	)	)	PUNCT
fsr-3804	12	26	,	,	PUNCT
fsr-3804	12	27	co	co	NOUN
fsr-3804	12	28	)	)	PUNCT
fsr-3804	12	29	the	the	DET
fsr-3804	12	30	total	total	ADJ
fsr-3804	12	31	asset	asset	NOUN
fsr-3804	12	32	turnover	turnover	NOUN
fsr-3804	12	33	(	(	PUNCT
fsr-3804	12	34	tat	tat	NOUN
fsr-3804	12	35	)	)	PUNCT
fsr-3804	12	36	,	,	PUNCT
fsr-3804	12	37	and	and	CCONJ
fsr-3804	12	38	(	(	PUNCT
fsr-3804	12	39	c	c	X
fsr-3804	12	40	)	)	PUNCT
fsr-3804	12	41	a	a	DET
fsr-3804	12	42	financial	financial	ADJ
fsr-3804	12	43	leverage	leverage	NOUN
fsr-3804	12	44	variable	variable	NOUN
fsr-3804	12	45	equal	equal	ADJ
fsr-3804	12	46	to	to	ADP
fsr-3804	12	47	assets	asset	NOUN
fsr-3804	12	48	/	/	SYM
fsr-3804	12	49	equity	equity	NOUN
fsr-3804	12	50	(	(	PUNCT
fsr-3804	12	51	lev	lev	NOUN
fsr-3804	12	52	)	)	PUNCT
fsr-3804	12	53	.	.	PUNCT
fsr-3804	13	1	it	it	PRON
fsr-3804	13	2	is	be	AUX
fsr-3804	13	3	shown	show	VERB
fsr-3804	13	4	that	that	SCONJ
fsr-3804	13	5	the	the	DET
fsr-3804	13	6	critical	critical	ADJ
fsr-3804	13	7	variable	variable	NOUN
fsr-3804	13	8	that	that	PRON
fsr-3804	13	9	constrained	constrain	VERB
fsr-3804	13	10	the	the	DET
fsr-3804	13	11	increase	increase	NOUN
fsr-3804	13	12	in	in	ADP
fsr-3804	13	13	roe	roe	PROPN
fsr-3804	13	14	(	(	PUNCT
fsr-3804	13	15	and	and	CCONJ
fsr-3804	13	16	,	,	PUNCT
fsr-3804	13	17	therefore	therefore	ADV
fsr-3804	13	18	,	,	PUNCT
fsr-3804	13	19	the	the	DET
fsr-3804	13	20	increase	increase	NOUN
fsr-3804	13	21	in	in	ADP
fsr-3804	13	22	g	g	NOUN
fsr-3804	13	23	)	)	PUNCT
fsr-3804	13	24	was	be	AUX
fsr-3804	13	25	the	the	DET
fsr-3804	13	26	profit	profit	NOUN
fsr-3804	13	27	margin	margin	NOUN
fsr-3804	13	28	.	.	PUNCT
fsr-3804	14	1	having	having	AUX
fsr-3804	14	2	identified	identify	VERB
fsr-3804	14	3	the	the	DET
fsr-3804	14	4	profit	profit	NOUN
fsr-3804	14	5	margin	margin	NOUN
fsr-3804	14	6	as	as	ADP
fsr-3804	14	7	the	the	DET
fsr-3804	14	8	culprit	culprit	NOUN
fsr-3804	14	9	,	,	PUNCT
fsr-3804	14	10	the	the	DET
fsr-3804	14	11	authors	author	NOUN
fsr-3804	14	12	conclude	conclude	VERB
fsr-3804	14	13	the	the	DET
fsr-3804	14	14	article	article	NOUN
fsr-3804	14	15	on	on	ADP
fsr-3804	14	16	an	an	DET
fsr-3804	14	17	optimistic	optimistic	ADJ
fsr-3804	14	18	note	note	NOUN
fsr-3804	14	19	because	because	SCONJ
fsr-3804	14	20	they	they	PRON
fsr-3804	14	21	contend	contend	VERB
fsr-3804	14	22	that	that	SCONJ
fsr-3804	14	23	management	management	NOUN
fsr-3804	14	24	frank	frank	PROPN
fsr-3804	14	25	k.	k.	PROPN
fsr-3804	14	26	reflly	reflly	ADV
fsr-3804	14	27	•	•	PROPN
fsr-3804	14	28	bernard	bernard	PROPN
fsr-3804	14	29	j.	j.	PROPN
fsr-3804	14	30	hank	hank	PROPN
fsr-3804	14	31	professor	professor	PROPN
fsr-3804	14	32	of	of	ADP
fsr-3804	14	33	business	business	PROPN
fsr-3804	14	34	administration	administration	PROPN
fsr-3804	14	35	,	,	PUNCT
fsr-3804	14	36	university	university	PROPN
fsr-3804	14	37	of	of	ADP
fsr-3804	14	38	notre	notre	PROPN
fsr-3804	14	39	dame	dame	PROPN
fsr-3804	14	40	,	,	PUNCT
fsr-3804	14	41	notre	notre	PROPN
fsr-3804	14	42	dame	dame	PROPN
fsr-3804	14	43	,	,	PUNCT
fsr-3804	14	44	in	in	ADP
fsr-3804	14	45	46556	46556	NUM
fsr-3804	14	46	.	.	PUNCT
fsr-3804	15	1	2	2	NUM
fsr-3804	15	2	financial	financial	ADJ
fsr-3804	15	3	services	service	NOUN
fsr-3804	15	4	review	review	VERB
fsr-3804	15	5	6(1	6(1	NUM
fsr-3804	15	6	)	)	PUNCT
fsr-3804	15	7	1997	1997	NUM
fsr-3804	15	8	as	as	ADP
fsr-3804	15	9	of	of	ADP
fsr-3804	15	10	1980	1980	NUM
fsr-3804	15	11	had	have	AUX
fsr-3804	15	12	recognized	recognize	VERB
fsr-3804	15	13	the	the	DET
fsr-3804	15	14	importance	importance	NOUN
fsr-3804	15	15	of	of	ADP
fsr-3804	15	16	maintaining	maintain	VERB
fsr-3804	15	17	the	the	DET
fsr-3804	15	18	profit	profit	NOUN
fsr-3804	15	19	margin	margin	NOUN
fsr-3804	15	20	.	.	PUNCT
fsr-3804	16	1	the	the	DET
fsr-3804	16	2	concluding	concluding	NOUN
fsr-3804	16	3	section	section	NOUN
fsr-3804	16	4	of	of	ADP
fsr-3804	16	5	the	the	DET
fsr-3804	16	6	article	article	NOUN
fsr-3804	16	7	assumes	assume	VERB
fsr-3804	16	8	stability	stability	NOUN
fsr-3804	16	9	for	for	ADP
fsr-3804	16	10	the	the	DET
fsr-3804	16	11	profit	profit	NOUN
fsr-3804	16	12	margin	margin	NOUN
fsr-3804	16	13	and	and	CCONJ
fsr-3804	16	14	considers	consider	VERB
fsr-3804	16	15	the	the	DET
fsr-3804	16	16	effect	effect	NOUN
fsr-3804	16	17	of	of	ADP
fsr-3804	16	18	sev	sev	NOUN
fsr-3804	16	19	eral	eral	ADJ
fsr-3804	16	20	scenarios	scenario	NOUN
fsr-3804	16	21	where	where	SCONJ
fsr-3804	16	22	stocks	stock	NOUN
fsr-3804	16	23	sell	sell	VERB
fsr-3804	16	24	at	at	ADP
fsr-3804	16	25	alternative	alternative	ADJ
fsr-3804	16	26	price	price	NOUN
fsr-3804	16	27	to	to	ADP
fsr-3804	16	28	book	book	NOUN
fsr-3804	16	29	value	value	NOUN
fsr-3804	16	30	ratios	ratio	NOUN
fsr-3804	16	31	(	(	PUNCT
fsr-3804	16	32	p	p	X
fsr-3804	16	33	/	/	SYM
fsr-3804	16	34	bv	bv	PROPN
fsr-3804	16	35	)	)	PUNCT
fsr-3804	16	36	.	.	PUNCT
fsr-3804	17	1	this	this	DET
fsr-3804	17	2	paper	paper	NOUN
fsr-3804	17	3	extends	extend	VERB
fsr-3804	17	4	this	this	DET
fsr-3804	17	5	interesting	interesting	ADJ
fsr-3804	17	6	analysis	analysis	NOUN
fsr-3804	17	7	in	in	ADP
fsr-3804	17	8	several	several	ADJ
fsr-3804	17	9	ways	way	NOUN
fsr-3804	17	10	.	.	PUNCT
fsr-3804	18	1	first	first	ADV
fsr-3804	18	2	,	,	PUNCT
fsr-3804	18	3	we	we	PRON
fsr-3804	18	4	include	include	VERB
fsr-3804	18	5	the	the	DET
fsr-3804	18	6	16	16	NUM
fsr-3804	18	7	years	year	NOUN
fsr-3804	18	8	since	since	SCONJ
fsr-3804	18	9	the	the	DET
fsr-3804	18	10	original	original	ADJ
fsr-3804	18	11	presentation	presentation	NOUN
fsr-3804	18	12	,	,	PUNCT
fsr-3804	18	13	second	second	ADJ
fsr-3804	18	14	we	we	PRON
fsr-3804	18	15	expand	expand	VERB
fsr-3804	18	16	the	the	DET
fsr-3804	18	17	analysis	analysis	NOUN
fsr-3804	18	18	of	of	ADP
fsr-3804	18	19	the	the	DET
fsr-3804	18	20	profit	profit	NOUN
fsr-3804	18	21	margin	margin	NOUN
fsr-3804	18	22	,	,	PUNCT
fsr-3804	18	23	and	and	CCONJ
fsr-3804	18	24	finally	finally	ADV
fsr-3804	18	25	,	,	PUNCT
fsr-3804	18	26	we	we	PRON
fsr-3804	18	27	analyze	analyze	VERB
fsr-3804	18	28	the	the	DET
fsr-3804	18	29	roe	roe	NOUN
fsr-3804	18	30	using	use	VERB
fsr-3804	18	31	a	a	DET
fsr-3804	18	32	five	five	NUM
fsr-3804	18	33	part	part	NOUN
fsr-3804	18	34	analysis	analysis	NOUN
fsr-3804	18	35	suggested	suggest	VERB
fsr-3804	18	36	by	by	ADP
fsr-3804	18	37	cohen	cohen	PROPN
fsr-3804	18	38	,	,	PUNCT
fsr-3804	18	39	zinbarg	zinbarg	NOUN
fsr-3804	18	40	and	and	CCONJ
fsr-3804	18	41	zeikel	zeikel	PROPN
fsr-3804	18	42	(	(	PUNCT
fsr-3804	18	43	1987	1987	NUM
fsr-3804	18	44	)	)	PUNCT
fsr-3804	18	45	.	.	PUNCT
fsr-3804	19	1	the	the	DET
fsr-3804	19	2	five	five	NUM
fsr-3804	19	3	part	part	NOUN
fsr-3804	19	4	analysis	analysis	NOUN
fsr-3804	19	5	of	of	ADP
fsr-3804	19	6	roe	roe	NOUN
fsr-3804	19	7	provides	provide	VERB
fsr-3804	19	8	additional	additional	ADJ
fsr-3804	19	9	insights	insight	NOUN
fsr-3804	19	10	into	into	ADP
fsr-3804	19	11	what	what	PRON
fsr-3804	19	12	has	have	AUX
fsr-3804	19	13	caused	cause	VERB
fsr-3804	19	14	the	the	DET
fsr-3804	19	15	changes	change	NOUN
fsr-3804	19	16	in	in	ADP
fsr-3804	19	17	roe	roe	NOUN
fsr-3804	19	18	during	during	ADP
fsr-3804	19	19	the	the	DET
fsr-3804	19	20	past	past	ADJ
fsr-3804	19	21	19	19	NUM
fsr-3804	19	22	years	year	NOUN
fsr-3804	19	23	and	and	CCONJ
fsr-3804	19	24	indicates	indicate	VERB
fsr-3804	19	25	what	what	PRON
fsr-3804	19	26	might	might	AUX
fsr-3804	19	27	transpire	transpire	VERB
fsr-3804	19	28	in	in	ADP
fsr-3804	19	29	the	the	DET
fsr-3804	19	30	years	year	NOUN
fsr-3804	19	31	ahead	ahead	ADV
fsr-3804	19	32	with	with	ADP
fsr-3804	19	33	and	and	CCONJ
fsr-3804	19	34	without	without	ADP
fsr-3804	19	35	changes	change	NOUN
fsr-3804	19	36	in	in	ADP
fsr-3804	19	37	the	the	DET
fsr-3804	19	38	rate	rate	NOUN
fsr-3804	19	39	of	of	ADP
fsr-3804	19	40	inflation	inflation	NOUN
fsr-3804	19	41	.	.	PUNCT
fsr-3804	20	1	the	the	DET
fsr-3804	20	2	first	first	ADJ
fsr-3804	20	3	section	section	NOUN
fsr-3804	20	4	contains	contain	VERB
fsr-3804	20	5	a	a	DET
fsr-3804	20	6	brief	brief	ADJ
fsr-3804	20	7	review	review	NOUN
fsr-3804	20	8	of	of	ADP
fsr-3804	20	9	the	the	DET
fsr-3804	20	10	dividend	dividend	NOUN
fsr-3804	20	11	discount	discount	NOUN
fsr-3804	20	12	model	model	NOUN
fsr-3804	20	13	(	(	PUNCT
fsr-3804	20	14	ddm	ddm	PROPN
fsr-3804	20	15	)	)	PUNCT
fsr-3804	20	16	and	and	CCONJ
fsr-3804	20	17	its	its	PRON
fsr-3804	20	18	implications	implication	NOUN
fsr-3804	20	19	related	relate	VERB
fsr-3804	20	20	to	to	ADP
fsr-3804	20	21	inflation	inflation	NOUN
fsr-3804	20	22	and	and	CCONJ
fsr-3804	20	23	stock	stock	NOUN
fsr-3804	20	24	prices	price	NOUN
fsr-3804	20	25	.	.	PUNCT
fsr-3804	21	1	the	the	DET
fsr-3804	21	2	second	second	ADJ
fsr-3804	21	3	section	section	NOUN
fsr-3804	21	4	considers	consider	VERB
fsr-3804	21	5	the	the	DET
fsr-3804	21	6	dupont	dupont	NOUN
fsr-3804	21	7	formula	formula	NOUN
fsr-3804	21	8	breakdown	breakdown	NOUN
fsr-3804	21	9	and	and	CCONJ
fsr-3804	21	10	analyzes	analyze	VERB
fsr-3804	21	11	changes	change	NOUN
fsr-3804	21	12	in	in	ADP
fsr-3804	21	13	the	the	DET
fsr-3804	21	14	three	three	NUM
fsr-3804	21	15	components	component	NOUN
fsr-3804	21	16	for	for	ADP
fsr-3804	21	17	the	the	DET
fsr-3804	21	18	fortune	fortune	NOUN
fsr-3804	21	19	500	500	NUM
fsr-3804	21	20	s&p	s&p	PROPN
fsr-3804	21	21	400	400	NUM
fsr-3804	21	22	since	since	SCONJ
fsr-3804	21	23	1956	1956	NUM
fsr-3804	21	24	with	with	ADP
fsr-3804	21	25	an	an	DET
fsr-3804	21	26	emphasis	emphasis	NOUN
fsr-3804	21	27	on	on	ADP
fsr-3804	21	28	the	the	DET
fsr-3804	21	29	period	period	NOUN
fsr-3804	21	30	since	since	SCONJ
fsr-3804	21	31	1979	1979	NUM
fsr-3804	21	32	.	.	PUNCT
fsr-3804	22	1	in	in	ADP
fsr-3804	22	2	the	the	DET
fsr-3804	22	3	third	third	ADJ
fsr-3804	22	4	section	section	NOUN
fsr-3804	22	5	,	,	PUNCT
fsr-3804	22	6	we	we	PRON
fsr-3804	22	7	discuss	discuss	VERB
fsr-3804	22	8	the	the	DET
fsr-3804	22	9	five	five	NUM
fsr-3804	22	10	part	part	NOUN
fsr-3804	22	11	breakdown	breakdown	NOUN
fsr-3804	22	12	of	of	ADP
fsr-3804	22	13	roe	roe	NOUN
fsr-3804	22	14	and	and	CCONJ
fsr-3804	22	15	examine	examine	VERB
fsr-3804	22	16	these	these	DET
fsr-3804	22	17	five	five	NUM
fsr-3804	22	18	components	component	NOUN
fsr-3804	22	19	for	for	ADP
fsr-3804	22	20	the	the	DET
fsr-3804	22	21	s&p	s&p	PROPN
fsr-3804	22	22	400	400	NUM
fsr-3804	22	23	during	during	ADP
fsr-3804	22	24	the	the	DET
fsr-3804	22	25	period	period	NOUN
fsr-3804	22	26	1977	1977	NUM
fsr-3804	22	27	-	-	SYM
fsr-3804	22	28	1995	1995	NUM
fsr-3804	22	29	(	(	PUNCT
fsr-3804	22	30	the	the	DET
fsr-3804	22	31	data	datum	NOUN
fsr-3804	22	32	were	be	AUX
fsr-3804	22	33	not	not	PART
fsr-3804	22	34	available	available	ADJ
fsr-3804	22	35	prior	prior	ADV
fsr-3804	22	36	to	to	ADP
fsr-3804	22	37	1977	1977	NUM
fsr-3804	22	38	)	)	PUNCT
fsr-3804	22	39	.	.	PUNCT
fsr-3804	23	1	section	section	NOUN
fsr-3804	23	2	four	four	NUM
fsr-3804	23	3	contains	contain	VERB
fsr-3804	23	4	an	an	DET
fsr-3804	23	5	analysis	analysis	NOUN
fsr-3804	23	6	of	of	ADP
fsr-3804	23	7	the	the	DET
fsr-3804	23	8	relationships	relationship	NOUN
fsr-3804	23	9	among	among	ADP
fsr-3804	23	10	inflation	inflation	NOUN
fsr-3804	23	11	,	,	PUNCT
fsr-3804	23	12	rates	rate	NOUN
fsr-3804	23	13	of	of	ADP
fsr-3804	23	14	renan	renan	PROPN
fsr-3804	23	15	on	on	ADP
fsr-3804	23	16	stock	stock	NOUN
fsr-3804	23	17	,	,	PUNCT
fsr-3804	23	18	roe	roe	NOUN
fsr-3804	23	19	,	,	PUNCT
fsr-3804	23	20	and	and	CCONJ
fsr-3804	23	21	the	the	DET
fsr-3804	23	22	components	component	NOUN
fsr-3804	23	23	of	of	ADP
fsr-3804	23	24	roe	roe	PROPN
fsr-3804	23	25	.	.	PUNCT
fsr-3804	24	1	in	in	ADP
fsr-3804	24	2	section	section	NOUN
fsr-3804	24	3	five	five	NUM
fsr-3804	24	4	,	,	PUNCT
fsr-3804	24	5	we	we	PRON
fsr-3804	24	6	consider	consider	VERB
fsr-3804	24	7	what	what	PRON
fsr-3804	24	8	happens	happen	VERB
fsr-3804	24	9	to	to	ADP
fsr-3804	24	10	stock	stock	NOUN
fsr-3804	24	11	returns	return	NOUN
fsr-3804	24	12	,	,	PUNCT
fsr-3804	24	13	roe	roe	NOUN
fsr-3804	24	14	components	component	NOUN
fsr-3804	24	15	and	and	CCONJ
fsr-3804	24	16	earnings	earning	NOUN
fsr-3804	24	17	growth	growth	NOUN
fsr-3804	24	18	during	during	ADP
fsr-3804	24	19	periods	period	NOUN
fsr-3804	24	20	of	of	ADP
fsr-3804	24	21	high	high	ADJ
fsr-3804	24	22	and	and	CCONJ
fsr-3804	24	23	low	low	ADJ
fsr-3804	24	24	rates	rate	NOUN
fsr-3804	24	25	of	of	ADP
fsr-3804	24	26	inflation	inflation	NOUN
fsr-3804	24	27	.	.	PUNCT
fsr-3804	25	1	we	we	PRON
fsr-3804	25	2	con	con	AUX
fsr-3804	25	3	clude	clude	VERB
fsr-3804	25	4	with	with	ADP
fsr-3804	25	5	a	a	DET
fsr-3804	25	6	discussion	discussion	NOUN
fsr-3804	25	7	of	of	ADP
fsr-3804	25	8	the	the	DET
fsr-3804	25	9	outlook	outlook	NOUN
fsr-3804	25	10	for	for	ADP
fsr-3804	25	11	roe	roe	NOUN
fsr-3804	25	12	and	and	CCONJ
fsr-3804	25	13	growth	growth	NOUN
fsr-3804	25	14	in	in	ADP
fsr-3804	25	15	an	an	DET
fsr-3804	25	16	environment	environment	NOUN
fsr-3804	25	17	of	of	ADP
fsr-3804	25	18	low	low	ADJ
fsr-3804	25	19	and	and	CCONJ
fsr-3804	25	20	high	high	ADJ
fsr-3804	25	21	rates	rate	NOUN
fsr-3804	25	22	of	of	ADP
fsr-3804	25	23	inflation	inflation	NOUN
fsr-3804	25	24	.	.	PUNCT
fsr-3804	26	1	ii	ii	PROPN
fsr-3804	26	2	.	.	PUNCT
fsr-3804	27	1	the	the	DET
fsr-3804	27	2	dividend	dividend	NOUN
fsr-3804	27	3	discount	discount	NOUN
fsr-3804	27	4	model	model	NOUN
fsr-3804	27	5	(	(	PUNCT
fsr-3804	27	6	ddm	ddm	PROPN
fsr-3804	27	7	)	)	PUNCT
fsr-3804	27	8	readers	reader	NOUN
fsr-3804	27	9	are	be	AUX
fsr-3804	27	10	familiar	familiar	ADJ
fsr-3804	27	11	with	with	ADP
fsr-3804	27	12	the	the	DET
fsr-3804	27	13	reduced	reduce	VERB
fsr-3804	27	14	form	form	NOUN
fsr-3804	27	15	of	of	ADP
fsr-3804	27	16	the	the	DET
fsr-3804	27	17	dividend	dividend	NOUN
fsr-3804	27	18	discount	discount	NOUN
fsr-3804	27	19	model	model	NOUN
fsr-3804	27	20	as	as	SCONJ
fsr-3804	27	21	it	it	PRON
fsr-3804	27	22	would	would	AUX
fsr-3804	27	23	apply	apply	VERB
fsr-3804	27	24	to	to	ADP
fsr-3804	27	25	the	the	DET
fsr-3804	27	26	aggregate	aggregate	ADJ
fsr-3804	27	27	stock	stock	NOUN
fsr-3804	27	28	market	market	NOUN
fsr-3804	27	29	:	:	PUNCT
fsr-3804	27	30	1	1	NUM
fsr-3804	27	31	where	where	SCONJ
fsr-3804	27	32	p	p	NOUN
fsr-3804	27	33	=	=	PUNCT
fsr-3804	27	34	the	the	DET
fsr-3804	27	35	price	price	NOUN
fsr-3804	27	36	of	of	ADP
fsr-3804	27	37	stocks	stock	NOUN
fsr-3804	27	38	;	;	PUNCT
fsr-3804	28	1	d	d	ADP
fsr-3804	28	2	1	1	NUM
fsr-3804	28	3	p	p	NOUN
fsr-3804	28	4	=	=	X
fsr-3804	28	5	,	,	PUNCT
fsr-3804	28	6	(	(	PUNCT
fsr-3804	28	7	1	1	X
fsr-3804	28	8	)	)	PUNCT
fsr-3804	28	9	k	k	NOUN
fsr-3804	28	10	g	g	PROPN
fsr-3804	29	1	d~	d~	PROPN
fsr-3804	29	2	=	=	PUNCT
fsr-3804	29	3	expected	expect	VERB
fsr-3804	29	4	dividend	dividend	NOUN
fsr-3804	29	5	in	in	ADP
fsr-3804	29	6	period	period	NOUN
fsr-3804	29	7	1	1	NUM
fsr-3804	30	1	[	[	X
fsr-3804	30	2	d	d	X
fsr-3804	30	3	o	o	X
fsr-3804	30	4	(	(	PUNCT
fsr-3804	30	5	l+g	l+g	PROPN
fsr-3804	30	6	)	)	PUNCT
fsr-3804	30	7	]	]	PUNCT
fsr-3804	30	8	;	;	PUNCT
fsr-3804	31	1	k	k	X
fsr-3804	31	2	=	=	PUNCT
fsr-3804	31	3	the	the	DET
fsr-3804	31	4	required	require	VERB
fsr-3804	31	5	rate	rate	NOUN
fsr-3804	31	6	of	of	ADP
fsr-3804	31	7	return	return	NOUN
fsr-3804	31	8	on	on	ADP
fsr-3804	31	9	stocks	stock	NOUN
fsr-3804	31	10	;	;	PUNCT
fsr-3804	31	11	and	and	CCONJ
fsr-3804	31	12	g	g	NOUN
fsr-3804	31	13	=	=	PUNCT
fsr-3804	31	14	the	the	DET
fsr-3804	31	15	expected	expect	VERB
fsr-3804	31	16	growth	growth	NOUN
fsr-3804	31	17	rate	rate	NOUN
fsr-3804	31	18	of	of	ADP
fsr-3804	31	19	dividends	dividend	NOUN
fsr-3804	31	20	for	for	ADP
fsr-3804	31	21	common	common	ADJ
fsr-3804	31	22	stocks	stock	NOUN
fsr-3804	31	23	.	.	PUNCT
fsr-3804	32	1	using	use	VERB
fsr-3804	32	2	this	this	DET
fsr-3804	32	3	model	model	NOUN
fsr-3804	32	4	,	,	PUNCT
fsr-3804	32	5	it	it	PRON
fsr-3804	32	6	is	be	AUX
fsr-3804	32	7	possible	possible	ADJ
fsr-3804	32	8	to	to	PART
fsr-3804	32	9	consider	consider	VERB
fsr-3804	32	10	:	:	PUNCT
fsr-3804	32	11	(	(	PUNCT
fsr-3804	32	12	a	a	X
fsr-3804	32	13	)	)	PUNCT
fsr-3804	32	14	what	what	PRON
fsr-3804	32	15	will	will	AUX
fsr-3804	32	16	happen	happen	VERB
fsr-3804	32	17	if	if	SCONJ
fsr-3804	32	18	expectations	expectation	NOUN
fsr-3804	32	19	change	change	VERB
fsr-3804	32	20	regarding	regard	VERB
fsr-3804	32	21	the	the	DET
fsr-3804	32	22	rate	rate	NOUN
fsr-3804	32	23	of	of	ADP
fsr-3804	32	24	inflation	inflation	NOUN
fsr-3804	32	25	,	,	PUNCT
fsr-3804	32	26	and	and	CCONJ
fsr-3804	32	27	(	(	PUNCT
fsr-3804	32	28	b	b	X
fsr-3804	32	29	)	)	PUNCT
fsr-3804	32	30	what	what	PRON
fsr-3804	32	31	must	must	AUX
fsr-3804	32	32	happen	happen	VERB
fsr-3804	32	33	if	if	SCONJ
fsr-3804	32	34	common	common	ADJ
fsr-3804	32	35	stocks	stock	NOUN
fsr-3804	32	36	are	be	AUX
fsr-3804	32	37	to	to	PART
fsr-3804	32	38	be	be	AUX
fsr-3804	32	39	a	a	DET
fsr-3804	32	40	complete	complete	ADJ
fsr-3804	32	41	hedge	hedge	NOUN
fsr-3804	32	42	against	against	ADP
fsr-3804	32	43	inflation	inflation	NOUN
fsr-3804	32	44	.	.	PUNCT
fsr-3804	33	1	a	a	DET
fsr-3804	33	2	hedge	hedge	NOUN
fsr-3804	33	3	is	be	AUX
fsr-3804	33	4	a	a	DET
fsr-3804	33	5	transaction	transaction	NOUN
fsr-3804	33	6	intended	intend	VERB
fsr-3804	33	7	to	to	PART
fsr-3804	33	8	safeguard	safeguard	VERB
fsr-3804	33	9	against	against	ADP
fsr-3804	33	10	loss	loss	NOUN
fsr-3804	33	11	on	on	ADP
fsr-3804	33	12	another	another	DET
fsr-3804	33	13	investment	investment	NOUN
fsr-3804	33	14	.	.	PUNCT
fsr-3804	34	1	a	a	DET
fsr-3804	34	2	hedge	hedge	NOUN
fsr-3804	34	3	against	against	ADP
fsr-3804	34	4	inflation	inflation	NOUN
fsr-3804	34	5	,	,	PUNCT
fsr-3804	34	6	then	then	ADV
fsr-3804	34	7	,	,	PUNCT
fsr-3804	34	8	is	be	AUX
fsr-3804	34	9	the	the	DET
fsr-3804	34	10	acquisition	acquisition	NOUN
fsr-3804	34	11	of	of	ADP
fsr-3804	34	12	an	an	DET
fsr-3804	34	13	asset	asset	NOUN
fsr-3804	34	14	that	that	PRON
fsr-3804	34	15	will	will	AUX
fsr-3804	34	16	safeguard	safeguard	VERB
fsr-3804	34	17	against	against	ADP
fsr-3804	34	18	an	an	DET
fsr-3804	34	19	increase	increase	NOUN
fsr-3804	34	20	in	in	ADP
fsr-3804	34	21	the	the	DET
fsr-3804	34	22	general	general	ADJ
fsr-3804	34	23	price	price	NOUN
fsr-3804	34	24	level	level	NOUN
fsr-3804	34	25	.	.	PUNCT
fsr-3804	35	1	in	in	ADP
fsr-3804	35	2	the	the	DET
fsr-3804	35	3	case	case	NOUN
fsr-3804	35	4	of	of	ADP
fsr-3804	35	5	common	common	ADJ
fsr-3804	35	6	stocks	stock	NOUN
fsr-3804	35	7	,	,	PUNCT
fsr-3804	35	8	the	the	DET
fsr-3804	35	9	expected	expect	VERB
fsr-3804	35	10	rate	rate	NOUN
fsr-3804	35	11	of	of	ADP
fsr-3804	35	12	return	return	NOUN
fsr-3804	35	13	should	should	AUX
fsr-3804	35	14	increase	increase	VERB
fsr-3804	35	15	in	in	ADP
fsr-3804	35	16	line	line	NOUN
fsr-3804	35	17	with	with	ADP
fsr-3804	35	18	the	the	DET
fsr-3804	35	19	required	require	VERB
fsr-3804	35	20	rate	rate	NOUN
fsr-3804	35	21	of	of	ADP
fsr-3804	35	22	return	return	NOUN
fsr-3804	35	23	that	that	PRON
fsr-3804	35	24	includes	include	VERB
fsr-3804	35	25	the	the	DET
fsr-3804	35	26	expected	expect	VERB
fsr-3804	35	27	rate	rate	NOUN
fsr-3804	35	28	of	of	ADP
fsr-3804	35	29	infla	infla	PROPN
fsr-3804	35	30	tion	tion	NOUN
fsr-3804	35	31	.	.	PUNCT
fsr-3804	36	1	the	the	DET
fsr-3804	36	2	point	point	NOUN
fsr-3804	36	3	is	be	AUX
fsr-3804	36	4	,	,	PUNCT
fsr-3804	36	5	we	we	PRON
fsr-3804	36	6	know	know	VERB
fsr-3804	36	7	that	that	SCONJ
fsr-3804	36	8	the	the	DET
fsr-3804	36	9	required	require	VERB
fsr-3804	36	10	rate	rate	NOUN
fsr-3804	36	11	of	of	ADP
fsr-3804	36	12	return	return	NOUN
fsr-3804	36	13	(	(	PUNCT
fsr-3804	36	14	ki	ki	INTJ
fsr-3804	36	15	)	)	PUNCT
fsr-3804	36	16	is	be	AUX
fsr-3804	36	17	determined	determine	VERB
fsr-3804	36	18	by	by	ADP
fsr-3804	36	19	a	a	DET
fsr-3804	36	20	real	real	ADJ
fsr-3804	36	21	risk	risk	NOUN
fsr-3804	36	22	free	free	ADJ
fsr-3804	36	23	rate	rate	NOUN
fsr-3804	36	24	,	,	PUNCT
fsr-3804	36	25	the	the	DET
fsr-3804	36	26	expected	expect	VERB
fsr-3804	36	27	rate	rate	NOUN
fsr-3804	36	28	of	of	ADP
fsr-3804	36	29	inflation	inflation	NOUN
fsr-3804	36	30	,	,	PUNCT
fsr-3804	36	31	and	and	CCONJ
fsr-3804	36	32	a	a	DET
fsr-3804	36	33	risk	risk	NOUN
fsr-3804	36	34	premium	premium	NOUN
fsr-3804	36	35	.	.	PUNCT
fsr-3804	37	1	2	2	NUM
fsr-3804	37	2	therefore	therefore	ADV
fsr-3804	37	3	,	,	PUNCT
fsr-3804	37	4	given	give	VERB
fsr-3804	37	5	a	a	DET
fsr-3804	37	6	change	change	NOUN
fsr-3804	37	7	in	in	ADP
fsr-3804	37	8	the	the	DET
fsr-3804	37	9	expected	expect	VERB
fsr-3804	37	10	rate	rate	NOUN
fsr-3804	37	11	of	of	ADP
fsr-3804	37	12	inflation	inflation	NOUN
fsr-3804	37	13	,	,	PUNCT
fsr-3804	37	14	there	there	PRON
fsr-3804	37	15	will	will	AUX
fsr-3804	37	16	be	be	AUX
fsr-3804	37	17	an	an	DET
fsr-3804	37	18	increase	increase	NOUN
fsr-3804	37	19	in	in	ADP
fsr-3804	37	20	k	k	PROPN
fsr-3804	37	21	for	for	ADP
fsr-3804	37	22	all	all	DET
fsr-3804	37	23	risky	risky	ADJ
fsr-3804	37	24	assets	asset	NOUN
fsr-3804	37	25	including	include	VERB
fsr-3804	37	26	com	com	NOUN
fsr-3804	37	27	mon	mon	PROPN
fsr-3804	37	28	stocks	stock	NOUN
fsr-3804	37	29	.	.	PUNCT
fsr-3804	38	1	given	give	VERB
fsr-3804	38	2	a	a	DET
fsr-3804	38	3	change	change	NOUN
fsr-3804	38	4	in	in	ADP
fsr-3804	38	5	k	k	PROPN
fsr-3804	38	6	,	,	PUNCT
fsr-3804	38	7	the	the	DET
fsr-3804	38	8	crucial	crucial	ADJ
fsr-3804	38	9	question	question	NOUN
fsr-3804	38	10	becomes	become	VERB
fsr-3804	38	11	:	:	PUNCT
fsr-3804	38	12	what	what	PRON
fsr-3804	38	13	will	will	AUX
fsr-3804	38	14	happen	happen	VERB
fsr-3804	38	15	to	to	ADP
fsr-3804	38	16	the	the	DET
fsr-3804	38	17	value	value	NOUN
fsr-3804	38	18	the	the	DET
fsr-3804	38	19	impact	impact	NOUN
fsr-3804	38	20	of	of	ADP
fsr-3804	38	21	inflation	inflation	NOUN
fsr-3804	38	22	3	3	NUM
fsr-3804	38	23	of	of	ADP
fsr-3804	38	24	the	the	DET
fsr-3804	38	25	asset	asset	NOUN
fsr-3804	38	26	to	to	PART
fsr-3804	38	27	ensure	ensure	VERB
fsr-3804	38	28	that	that	SCONJ
fsr-3804	38	29	the	the	DET
fsr-3804	38	30	investor	investor	NOUN
fsr-3804	38	31	will	will	AUX
fsr-3804	38	32	receive	receive	VERB
fsr-3804	38	33	the	the	DET
fsr-3804	38	34	higher	high	ADJ
fsr-3804	38	35	nominal	nominal	ADJ
fsr-3804	38	36	required	require	VERB
fsr-3804	38	37	rate	rate	NOUN
fsr-3804	38	38	of	of	ADP
fsr-3804	38	39	return	return	NOUN
fsr-3804	38	40	(	(	PUNCT
fsr-3804	38	41	k	k	NOUN
fsr-3804	38	42	)	)	PUNCT
fsr-3804	38	43	?	?	PUNCT
fsr-3804	39	1	one	one	NUM
fsr-3804	39	2	way	way	NOUN
fsr-3804	39	3	to	to	PART
fsr-3804	39	4	view	view	VERB
fsr-3804	39	5	this	this	PRON
fsr-3804	39	6	is	be	AUX
fsr-3804	39	7	to	to	PART
fsr-3804	39	8	transform	transform	VERB
fsr-3804	39	9	the	the	DET
fsr-3804	39	10	ddm	ddm	PROPN
fsr-3804	39	11	valuation	valuation	NOUN
fsr-3804	39	12	model	model	NOUN
fsr-3804	39	13	as	as	SCONJ
fsr-3804	39	14	follows	follow	VERB
fsr-3804	39	15	:	:	PUNCT
fsr-3804	39	16	if	if	SCONJ
fsr-3804	39	17	then	then	ADV
fsr-3804	39	18	d	d	PROPN
fsr-3804	39	19	1	1	NUM
fsr-3804	39	20	,	,	PUNCT
fsr-3804	39	21	p=	p=	NOUN
fsr-3804	40	1	k	k	NOUN
fsr-3804	40	2	g	g	PROPN
fsr-3804	41	1	d	d	NOUN
fsr-3804	41	2	i	i	NOUN
fsr-3804	41	3	k	k	NOUN
fsr-3804	42	1	=	=	PUNCT
fsr-3804	43	1	+	+	NUM
fsr-3804	43	2	g	g	NOUN
fsr-3804	43	3	.	.	PUNCT
fsr-3804	44	1	(	(	PUNCT
fsr-3804	44	2	2	2	X
fsr-3804	44	3	)	)	PUNCT
fsr-3804	44	4	p	p	NOUN
fsr-3804	44	5	given	give	VERB
fsr-3804	44	6	this	this	DET
fsr-3804	44	7	specification	specification	NOUN
fsr-3804	44	8	,	,	PUNCT
fsr-3804	44	9	if	if	SCONJ
fsr-3804	44	10	there	there	PRON
fsr-3804	44	11	is	be	VERB
fsr-3804	44	12	an	an	DET
fsr-3804	44	13	increase	increase	NOUN
fsr-3804	44	14	in	in	ADP
fsr-3804	44	15	the	the	DET
fsr-3804	44	16	expected	expect	VERB
fsr-3804	44	17	rate	rate	NOUN
fsr-3804	44	18	of	of	ADP
fsr-3804	44	19	inflation	inflation	NOUN
fsr-3804	44	20	and	and	CCONJ
fsr-3804	44	21	nothing	nothing	PRON
fsr-3804	44	22	happens	happen	VERB
fsr-3804	44	23	to	to	ADP
fsr-3804	44	24	the	the	DET
fsr-3804	44	25	expected	expect	VERB
fsr-3804	44	26	growth	growth	NOUN
fsr-3804	44	27	rate	rate	NOUN
fsr-3804	44	28	of	of	ADP
fsr-3804	44	29	dividends	dividend	NOUN
fsr-3804	44	30	of	of	ADP
fsr-3804	44	31	finns	finn	NOUN
fsr-3804	44	32	(	(	PUNCT
fsr-3804	44	33	i.e.	i.e.	X
fsr-3804	44	34	,	,	PUNCT
fsr-3804	44	35	there	there	PRON
fsr-3804	44	36	is	be	VERB
fsr-3804	44	37	no	no	DET
fsr-3804	44	38	change	change	NOUN
fsr-3804	44	39	in	in	ADP
fsr-3804	44	40	g	g	PROPN
fsr-3804	44	41	or	or	CCONJ
fsr-3804	44	42	d	d	NOUN
fsr-3804	44	43	i	i	PROPN
fsr-3804	44	44	)	)	PUNCT
fsr-3804	44	45	,	,	PUNCT
fsr-3804	44	46	we	we	PRON
fsr-3804	44	47	can	can	AUX
fsr-3804	44	48	see	see	VERB
fsr-3804	44	49	that	that	SCONJ
fsr-3804	44	50	stock	stock	NOUN
fsr-3804	44	51	prices	price	NOUN
fsr-3804	44	52	must	must	AUX
fsr-3804	44	53	decline	decline	VERB
fsr-3804	44	54	--	--	PUNCT
fsr-3804	44	55	that	that	ADV
fsr-3804	44	56	is	is	ADV
fsr-3804	44	57	,	,	PUNCT
fsr-3804	44	58	the	the	DET
fsr-3804	44	59	p	p	NOUN
fsr-3804	44	60	must	must	AUX
fsr-3804	44	61	decline	decline	VERB
fsr-3804	44	62	until	until	SCONJ
fsr-3804	44	63	there	there	PRON
fsr-3804	44	64	is	be	VERB
fsr-3804	44	65	an	an	DET
fsr-3804	44	66	increase	increase	NOUN
fsr-3804	44	67	in	in	ADP
fsr-3804	44	68	the	the	DET
fsr-3804	44	69	d1	d1	NOUN
fsr-3804	44	70	/	/	SYM
fsr-3804	44	71	p	p	NOUN
fsr-3804	44	72	term	term	NOUN
fsr-3804	44	73	to	to	PART
fsr-3804	44	74	compensate	compensate	VERB
fsr-3804	44	75	for	for	ADP
fsr-3804	44	76	the	the	DET
fsr-3804	44	77	increase	increase	NOUN
fsr-3804	44	78	in	in	ADP
fsr-3804	44	79	the	the	DET
fsr-3804	44	80	required	required	ADJ
fsr-3804	44	81	return	return	NOUN
fsr-3804	44	82	.	.	PUNCT
fsr-3804	45	1	this	this	DET
fsr-3804	45	2	see	see	NOUN
fsr-3804	45	3	nario	nario	PROPN
fsr-3804	45	4	is	be	AUX
fsr-3804	45	5	similar	similar	ADJ
fsr-3804	45	6	to	to	ADP
fsr-3804	45	7	a	a	DET
fsr-3804	45	8	bond	bond	NOUN
fsr-3804	45	9	where	where	SCONJ
fsr-3804	45	10	the	the	DET
fsr-3804	45	11	price	price	NOUN
fsr-3804	45	12	of	of	ADP
fsr-3804	45	13	the	the	DET
fsr-3804	45	14	bond	bond	NOUN
fsr-3804	45	15	must	must	AUX
fsr-3804	45	16	necessarily	necessarily	ADV
fsr-3804	45	17	adjust	adjust	VERB
fsr-3804	45	18	to	to	PART
fsr-3804	45	19	increase	increase	VERB
fsr-3804	45	20	the	the	DET
fsr-3804	45	21	expected	expect	VERB
fsr-3804	45	22	yield	yield	NOUN
fsr-3804	45	23	because	because	SCONJ
fsr-3804	45	24	there	there	PRON
fsr-3804	45	25	is	be	VERB
fsr-3804	45	26	no	no	DET
fsr-3804	45	27	change	change	NOUN
fsr-3804	45	28	in	in	ADP
fsr-3804	45	29	the	the	DET
fsr-3804	45	30	expected	expect	VERB
fsr-3804	45	31	cash	cash	NOUN
fsr-3804	45	32	flows	flow	NOUN
fsr-3804	45	33	(	(	PUNCT
fsr-3804	45	34	interest	interest	NOUN
fsr-3804	45	35	payments	payment	NOUN
fsr-3804	45	36	)	)	PUNCT
fsr-3804	45	37	.	.	PUNCT
fsr-3804	46	1	clearly	clearly	ADV
fsr-3804	46	2	,	,	PUNCT
fsr-3804	46	3	during	during	ADP
fsr-3804	46	4	such	such	DET
fsr-3804	46	5	a	a	DET
fsr-3804	46	6	period	period	NOUN
fsr-3804	46	7	of	of	ADP
fsr-3804	46	8	price	price	NOUN
fsr-3804	46	9	adjustment	adjustment	NOUN
fsr-3804	46	10	,	,	PUNCT
fsr-3804	46	11	the	the	DET
fsr-3804	46	12	investor	investor	NOUN
fsr-3804	46	13	who	who	PRON
fsr-3804	46	14	owns	own	VERB
fsr-3804	46	15	stocks	stock	NOUN
fsr-3804	46	16	(	(	PUNCT
fsr-3804	46	17	or	or	CCONJ
fsr-3804	46	18	bonds	bond	NOUN
fsr-3804	46	19	)	)	PUNCT
fsr-3804	46	20	will	will	AUX
fsr-3804	46	21	experience	experience	VERB
fsr-3804	46	22	large	large	ADJ
fsr-3804	46	23	negative	negative	ADJ
fsr-3804	46	24	returns	return	NOUN
fsr-3804	46	25	.	.	PUNCT
fsr-3804	47	1	another	another	DET
fsr-3804	47	2	possibility	possibility	NOUN
fsr-3804	47	3	is	be	AUX
fsr-3804	47	4	that	that	SCONJ
fsr-3804	47	5	the	the	DET
fsr-3804	47	6	growth	growth	NOUN
fsr-3804	47	7	rate	rate	NOUN
fsr-3804	47	8	of	of	ADP
fsr-3804	47	9	dividends	dividend	NOUN
fsr-3804	47	10	(	(	PUNCT
fsr-3804	47	11	g	g	NOUN
fsr-3804	47	12	)	)	PUNCT
fsr-3804	47	13	will	will	AUX
fsr-3804	47	14	increase	increase	VERB
fsr-3804	47	15	by	by	ADP
fsr-3804	47	16	approxi	approxi	VERB
fsr-3804	47	17	mately	mately	ADV
fsr-3804	47	18	the	the	DET
fsr-3804	47	19	increase	increase	NOUN
fsr-3804	47	20	in	in	ADP
fsr-3804	47	21	the	the	DET
fsr-3804	47	22	rate	rate	NOUN
fsr-3804	47	23	of	of	ADP
fsr-3804	47	24	inflation	inflation	NOUN
fsr-3804	47	25	.	.	PUNCT
fsr-3804	48	1	if	if	SCONJ
fsr-3804	48	2	this	this	PRON
fsr-3804	48	3	occurs	occur	VERB
fsr-3804	48	4	,	,	PUNCT
fsr-3804	48	5	stock	stock	NOUN
fsr-3804	48	6	prices	price	NOUN
fsr-3804	48	7	will	will	AUX
fsr-3804	48	8	not	not	PART
fsr-3804	48	9	change	change	VERB
fsr-3804	48	10	,	,	PUNCT
fsr-3804	48	11	because	because	SCONJ
fsr-3804	48	12	the	the	DET
fsr-3804	48	13	spread	spread	NOUN
fsr-3804	48	14	between	between	ADP
fsr-3804	48	15	k	k	PROPN
fsr-3804	48	16	and	and	CCONJ
fsr-3804	48	17	g	g	PROPN
fsr-3804	48	18	will	will	AUX
fsr-3804	48	19	change	change	VERB
fsr-3804	48	20	only	only	ADV
fsr-3804	48	21	slightly	slightly	ADV
fsr-3804	48	22	.	.	PUNCT
fsr-3804	49	1	the	the	DET
fsr-3804	49	2	expected	expect	VERB
fsr-3804	49	3	return	return	NOUN
fsr-3804	49	4	on	on	ADP
fsr-3804	49	5	stocks	stock	NOUN
fsr-3804	49	6	(	(	PUNCT
fsr-3804	49	7	k	k	X
fsr-3804	49	8	)	)	PUNCT
fsr-3804	49	9	will	will	AUX
fsr-3804	49	10	increase	increase	VERB
fsr-3804	49	11	because	because	SCONJ
fsr-3804	49	12	of	of	ADP
fsr-3804	49	13	the	the	DET
fsr-3804	49	14	increase	increase	NOUN
fsr-3804	49	15	in	in	ADP
fsr-3804	49	16	g	g	PROPN
fsr-3804	49	17	and	and	CCONJ
fsr-3804	49	18	an	an	DET
fsr-3804	49	19	increase	increase	NOUN
fsr-3804	49	20	in	in	ADP
fsr-3804	49	21	the	the	DET
fsr-3804	49	22	dividend	dividend	NOUN
fsr-3804	49	23	yield	yield	NOUN
fsr-3804	49	24	because	because	SCONJ
fsr-3804	49	25	of	of	ADP
fsr-3804	49	26	an	an	DET
fsr-3804	49	27	increase	increase	NOUN
fsr-3804	49	28	in	in	ADP
fsr-3804	49	29	d	d	PROPN
fsr-3804	49	30	1	1	NUM
fsr-3804	49	31	which	which	PRON
fsr-3804	49	32	equals	equal	VERB
fsr-3804	49	33	do(l	do(l	NOUN
fsr-3804	49	34	+	+	CCONJ
fsr-3804	49	35	g	g	NOUN
fsr-3804	49	36	)	)	PUNCT
fsr-3804	49	37	.	.	PUNCT
fsr-3804	50	1	therefore	therefore	ADV
fsr-3804	50	2	,	,	PUNCT
fsr-3804	50	3	in	in	ADP
fsr-3804	50	4	this	this	DET
fsr-3804	50	5	scenario	scenario	NOUN
fsr-3804	50	6	the	the	DET
fsr-3804	50	7	inves	inve	NOUN
fsr-3804	50	8	tor	tor	NOUN
fsr-3804	50	9	's	's	PART
fsr-3804	50	10	expected	expect	VERB
fsr-3804	50	11	rate	rate	NOUN
fsr-3804	50	12	of	of	ADP
fsr-3804	50	13	return	return	NOUN
fsr-3804	50	14	(	(	PUNCT
fsr-3804	50	15	k	k	NOUN
fsr-3804	50	16	)	)	PUNCT
fsr-3804	50	17	has	have	AUX
fsr-3804	50	18	increased	increase	VERB
fsr-3804	50	19	in	in	ADP
fsr-3804	50	20	line	line	NOUN
fsr-3804	50	21	with	with	ADP
fsr-3804	50	22	a	a	DET
fsr-3804	50	23	change	change	NOUN
fsr-3804	50	24	in	in	ADP
fsr-3804	50	25	expected	expect	VERB
fsr-3804	50	26	inflation	inflation	NOUN
fsr-3804	50	27	,	,	PUNCT
fsr-3804	50	28	and	and	CCONJ
fsr-3804	50	29	common	common	ADJ
fsr-3804	50	30	stocks	stock	NOUN
fsr-3804	50	31	will	will	AUX
fsr-3804	50	32	be	be	AUX
fsr-3804	50	33	a	a	DET
fsr-3804	50	34	complete	complete	ADJ
fsr-3804	50	35	inflation	inflation	NOUN
fsr-3804	50	36	hedge	hedge	NOUN
fsr-3804	50	37	.	.	PUNCT
fsr-3804	51	1	the	the	DET
fsr-3804	51	2	point	point	NOUN
fsr-3804	51	3	is	be	AUX
fsr-3804	51	4	,	,	PUNCT
fsr-3804	51	5	g	g	PROPN
fsr-3804	51	6	must	must	AUX
fsr-3804	51	7	increase	increase	VERB
fsr-3804	51	8	by	by	ADP
fsr-3804	51	9	almost	almost	ADV
fsr-3804	51	10	the	the	DET
fsr-3804	51	11	change	change	NOUN
fsr-3804	51	12	in	in	ADP
fsr-3804	51	13	the	the	DET
fsr-3804	51	14	expected	expect	VERB
fsr-3804	51	15	rate	rate	NOUN
fsr-3804	51	16	o	o	PROPN
fsr-3804	51	17	f	f	PROPN
fsr-3804	51	18	inflation	inflation	NOUN
fsr-3804	51	19	if	if	SCONJ
fsr-3804	51	20	common	common	ADJ
fsr-3804	51	21	stocks	stock	NOUN
fsr-3804	51	22	are	be	AUX
fsr-3804	51	23	to	to	PART
fsr-3804	51	24	be	be	AUX
fsr-3804	51	25	a	a	DET
fsr-3804	51	26	complete	complete	ADJ
fsr-3804	51	27	inflation	inflation	NOUN
fsr-3804	51	28	hedge	hedge	NOUN
fsr-3804	51	29	without	without	ADP
fsr-3804	51	30	stock	stock	NOUN
fsr-3804	51	31	prices	price	NOUN
fsr-3804	51	32	declining	decline	VERB
fsr-3804	51	33	.	.	PUNCT
fsr-3804	52	1	such	such	DET
fsr-3804	52	2	an	an	DET
fsr-3804	52	3	increase	increase	NOUN
fsr-3804	52	4	in	in	ADP
fsr-3804	52	5	g	g	PROPN
fsr-3804	52	6	is	be	AUX
fsr-3804	52	7	the	the	DET
fsr-3804	52	8	implicit	implicit	ADJ
fsr-3804	52	9	assump	assump	NOUN
fsr-3804	52	10	tion	tion	NOUN
fsr-3804	52	11	made	make	VERB
fsr-3804	52	12	by	by	ADP
fsr-3804	52	13	observers	observer	NOUN
fsr-3804	52	14	who	who	PRON
fsr-3804	52	15	contend	contend	VERB
fsr-3804	52	16	that	that	SCONJ
fsr-3804	52	17	common	common	ADJ
fsr-3804	52	18	stocks	stock	NOUN
fsr-3804	52	19	should	should	AUX
fsr-3804	52	20	be	be	AUX
fsr-3804	52	21	an	an	DET
fsr-3804	52	22	inflation	inflation	NOUN
fsr-3804	52	23	hedge	hedge	NOUN
fsr-3804	52	24	.	.	PUNCT
fsr-3804	53	1	for	for	ADP
fsr-3804	53	2	example	example	NOUN
fsr-3804	53	3	,	,	PUNCT
fsr-3804	53	4	when	when	SCONJ
fsr-3804	53	5	jahnke	jahnke	PROPN
fsr-3804	53	6	(	(	PUNCT
fsr-3804	53	7	1975	1975	NUM
fsr-3804	53	8	,	,	PUNCT
fsr-3804	53	9	p.	p.	NOUN
fsr-3804	53	10	74	74	NUM
fsr-3804	53	11	)	)	PUNCT
fsr-3804	53	12	employs	employ	VERB
fsr-3804	53	13	the	the	DET
fsr-3804	53	14	dividend	dividend	NOUN
fsr-3804	53	15	model	model	NOUN
fsr-3804	53	16	to	to	PART
fsr-3804	53	17	explain	explain	VERB
fsr-3804	53	18	changes	change	NOUN
fsr-3804	53	19	in	in	ADP
fsr-3804	53	20	stock	stock	NOUN
fsr-3804	53	21	prices	price	NOUN
fsr-3804	53	22	,	,	PUNCT
fsr-3804	53	23	he	he	PRON
fsr-3804	53	24	states	state	VERB
fsr-3804	53	25	,	,	PUNCT
fsr-3804	53	26	"	"	PUNCT
fsr-3804	53	27	thus	thus	ADV
fsr-3804	53	28	common	common	ADJ
fsr-3804	53	29	stocks	stock	NOUN
fsr-3804	53	30	should	should	AUX
fsr-3804	53	31	serve	serve	VERB
fsr-3804	53	32	as	as	ADP
fsr-3804	53	33	a	a	DET
fsr-3804	53	34	hedge	hedge	NOUN
fsr-3804	53	35	against	against	ADP
fsr-3804	53	36	inflation	inflation	NOUN
fsr-3804	53	37	to	to	ADP
fsr-3804	53	38	the	the	DET
fsr-3804	53	39	extent	extent	NOUN
fsr-3804	53	40	that	that	PRON
fsr-3804	53	41	changes	change	VERB
fsr-3804	53	42	in	in	ADP
fsr-3804	53	43	the	the	DET
fsr-3804	53	44	rate	rate	NOUN
fsr-3804	53	45	of	of	ADP
fsr-3804	53	46	inflation	inflation	NOUN
fsr-3804	53	47	are	be	AUX
fsr-3804	53	48	mirrored	mirror	VERB
fsr-3804	53	49	in	in	ADP
fsr-3804	53	50	the	the	DET
fsr-3804	53	51	dividend	dividend	NOUN
fsr-3804	53	52	growth	growth	NOUN
fsr-3804	53	53	rate	rate	NOUN
fsr-3804	53	54	.	.	PUNCT
fsr-3804	53	55	"	"	PUNCT
fsr-3804	54	1	hi	hi	INTJ
fsr-3804	54	2	.	.	PUNCT
fsr-3804	55	1	a	a	DET
fsr-3804	55	2	secular	secular	ADJ
fsr-3804	55	3	analysis	analysis	NOUN
fsr-3804	55	4	of	of	ADP
fsr-3804	55	5	roe	roe	NOUN
fsr-3804	55	6	and	and	CCONJ
fsr-3804	55	7	its	its	PRON
fsr-3804	55	8	dupont	dupont	NOUN
fsr-3804	55	9	components	component	NOUN
fsr-3804	55	10	as	as	SCONJ
fsr-3804	55	11	noted	note	VERB
fsr-3804	55	12	,	,	PUNCT
fsr-3804	55	13	the	the	DET
fsr-3804	55	14	crucial	crucial	ADJ
fsr-3804	55	15	factor	factor	NOUN
fsr-3804	55	16	affecting	affect	VERB
fsr-3804	55	17	the	the	DET
fsr-3804	55	18	growth	growth	NOUN
fsr-3804	55	19	of	of	ADP
fsr-3804	55	20	dividends	dividend	NOUN
fsr-3804	55	21	is	be	AUX
fsr-3804	55	22	the	the	DET
fsr-3804	55	23	aggregate	aggregate	ADJ
fsr-3804	55	24	roe	roe	NOUN
fsr-3804	55	25	.	.	PUNCT
fsr-3804	56	1	in	in	ADP
fsr-3804	56	2	turn	turn	NOUN
fsr-3804	56	3	,	,	PUNCT
fsr-3804	56	4	we	we	PRON
fsr-3804	56	5	can	can	AUX
fsr-3804	56	6	analyze	analyze	VERB
fsr-3804	56	7	roe	roe	NOUN
fsr-3804	56	8	using	use	VERB
fsr-3804	56	9	the	the	DET
fsr-3804	56	10	traditional	traditional	ADJ
fsr-3804	56	11	dupont	dupont	NOUN
fsr-3804	56	12	formulation	formulation	NOUN
fsr-3804	56	13	which	which	PRON
fsr-3804	56	14	includes	include	VERB
fsr-3804	56	15	three	three	NUM
fsr-3804	56	16	com	com	NOUN
fsr-3804	56	17	ponents	ponent	NOUN
fsr-3804	56	18	as	as	SCONJ
fsr-3804	56	19	follows	follow	VERB
fsr-3804	56	20	:	:	PUNCT
fsr-3804	56	21	net	net	ADJ
fsr-3804	56	22	income	income	NOUN
fsr-3804	56	23	sales	sale	NOUN
fsr-3804	56	24	net	net	ADJ
fsr-3804	56	25	income	income	NOUN
fsr-3804	56	26	total	total	NOUN
fsr-3804	56	27	assets	asset	NOUN
fsr-3804	56	28	x	x	PUNCT
fsr-3804	56	29	x	x	SYM
fsr-3804	56	30	(	(	PUNCT
fsr-3804	56	31	3	3	X
fsr-3804	56	32	)	)	PUNCT
fsr-3804	56	33	equity	equity	NOUN
fsr-3804	56	34	total	total	ADJ
fsr-3804	56	35	assets	asset	NOUN
fsr-3804	56	36	sales	sale	NOUN
fsr-3804	56	37	equity	equity	NOUN
fsr-3804	56	38	as	as	SCONJ
fsr-3804	56	39	noted	note	VERB
fsr-3804	56	40	by	by	ADP
fsr-3804	56	41	fuller	full	ADJ
fsr-3804	56	42	and	and	CCONJ
fsr-3804	56	43	petry	petry	NOUN
fsr-3804	56	44	,	,	PUNCT
fsr-3804	56	45	these	these	DET
fsr-3804	56	46	ratios	ratio	NOUN
fsr-3804	56	47	are	be	AUX
fsr-3804	56	48	not	not	PART
fsr-3804	56	49	available	available	ADJ
fsr-3804	56	50	for	for	ADP
fsr-3804	56	51	the	the	DET
fsr-3804	56	52	standard	standard	PROPN
fsr-3804	56	53	&	&	CCONJ
fsr-3804	56	54	poor	poor	PROPN
fsr-3804	56	55	's	's	PART
fsr-3804	56	56	series	series	NOUN
fsr-3804	56	57	prior	prior	ADV
fsr-3804	56	58	to	to	ADP
fsr-3804	56	59	1977	1977	NUM
fsr-3804	56	60	.	.	PUNCT
fsr-3804	57	1	alternatively	alternatively	ADV
fsr-3804	57	2	,	,	PUNCT
fsr-3804	57	3	they	they	PRON
fsr-3804	57	4	are	be	AUX
fsr-3804	57	5	available	available	ADJ
fsr-3804	57	6	for	for	ADP
fsr-3804	57	7	the	the	DET
fsr-3804	57	8	fortune	fortune	NOUN
fsr-3804	57	9	500	500	NUM
fsr-3804	57	10	industrial	industrial	ADJ
fsr-3804	57	11	series	series	NOUN
fsr-3804	57	12	which	which	PRON
fsr-3804	57	13	18.0	18.0	NUM
fsr-3804	57	14	financial	financial	ADJ
fsr-3804	57	15	services	service	NOUN
fsr-3804	57	16	review	review	VERB
fsr-3804	57	17	6(i	6(i	NUM
fsr-3804	57	18	)	)	PUNCT
fsr-3804	57	19	1997	1997	NUM
fsr-3804	57	20	18.0	18.0	NUM
fsr-3804	57	21	1	1	NUM
fsr-3804	57	22	7	7	NUM
fsr-3804	57	23	.	.	PUNCT
fsr-3804	57	24	0	0	NUM
fsr-3804	57	25	1	1	NUM
fsr-3804	57	26	6	6	NUM
fsr-3804	57	27	.	.	PUNCT
fsr-3804	57	28	0	0	NUM
fsr-3804	58	1	1	1	NUM
fsr-3804	58	2	5	5	NUM
fsr-3804	58	3	.	.	PUNCT
fsr-3804	58	4	0	0	NUM
fsr-3804	58	5	1	1	NUM
fsr-3804	58	6	4	4	NUM
fsr-3804	58	7	.	.	PUNCT
fsr-3804	58	8	0	0	PUNCT
fsr-3804	59	1	~	~	PUNCT
fsr-3804	59	2	13.0	13.0	NUM
fsr-3804	59	3	12.0	12.0	NUM
fsr-3804	59	4	11.0	11.0	NUM
fsr-3804	59	5	io.o	io.o	NOUN
fsr-3804	59	6	9.0	9.0	NUM
fsr-3804	59	7	8.o	8.o	NUM
fsr-3804	59	8	v	v	NOUN
fsr-3804	59	9	v	v	NOUN
fsr-3804	59	10	//\	//\	ADV
fsr-3804	60	1	i	i	PRON
fsr-3804	60	2	/	/	SYM
fsr-3804	60	3	/	/	SYM
fsr-3804	60	4	v	v	NOUN
fsr-3804	60	5	'	'	PUNCT
fsr-3804	60	6	'	'	PUNCT
fsr-3804	60	7	'	'	PUNCT
fsr-3804	60	8	:	:	PUNCT
fsr-3804	60	9	:	:	PUNCT
fsr-3804	60	10	:	:	PUNCT
fsr-3804	60	11	:	:	PUNCT
fsr-3804	60	12	:	:	PUNCT
fsr-3804	60	13	:	:	PUNCT
fsr-3804	60	14	:	:	PUNCT
fsr-3804	60	15	:	:	PUNCT
fsr-3804	60	16	i	i	PRON
fsr-3804	61	1	i	i	PRON
fsr-3804	61	2	i	i	PRON
fsr-3804	62	1	i	i	PRON
fsr-3804	62	2	t	t	VERB
fsr-3804	62	3	.	.	PUNCT
fsr-3804	62	4	.	.	PUNCT
fsr-3804	62	5	.	.	PUNCT
fsr-3804	62	6	.	.	PUNCT
fsr-3804	63	1	:	:	PUNCT
fsr-3804	63	2	:	:	PUNCT
fsr-3804	63	3	;	;	PUNCT
fsr-3804	63	4	:	:	PUNCT
fsr-3804	63	5	:	:	PUNCT
fsr-3804	63	6	.	.	PUNCT
fsr-3804	63	7	.	.	PUNCT
fsr-3804	63	8	.	.	PUNCT
fsr-3804	63	9	.	.	PUNCT
fsr-3804	63	10	.	.	PUNCT
fsr-3804	63	11	.	.	PUNCT
fsr-3804	63	12	.	.	PUNCT
fsr-3804	63	13	.	.	PUNCT
fsr-3804	63	14	.	.	PUNCT
fsr-3804	63	15	.	.	PUNCT
fsr-3804	64	1	(	(	PUNCT
fsr-3804	64	2	f~	f~	NOUN
fsr-3804	64	3	n	n	ADP
fsr-3804	64	4	tj	tj	NOUN
fsr-3804	64	5	'	'	PUNCT
fsr-3804	64	6	)	)	PUNCT
fsr-3804	65	1	lo	lo	PROPN
fsr-3804	65	2	~	~	PUNCT
fsr-3804	65	3	po	po	NOUN
fsr-3804	65	4	~	~	PUNCT
fsr-3804	65	5	td	td	NOUN
fsr-3804	65	6	@y	@y	NOUN
fsr-3804	65	7	n	n	NOUN
fsr-3804	65	8	i	i	PRON
fsr-3804	65	9	n	n	ADV
fsr-3804	65	10	td	td	VERB
fsr-3804	65	11	od	od	ADV
fsr-3804	65	12	fo	fo	ADP
fsr-3804	65	13	~-	~-	PROPN
fsr-3804	65	14	.	.	PUNCT
fsr-3804	66	1	i	i	PRON
fsr-3804	66	2	~	~	PUNCT
fsr-3804	66	3	qo	qo	X
fsr-3804	66	4	~	~	PUNCT
fsr-3804	66	5	io	io	X
fsr-3804	66	6	~d	~d	PUNCT
fsr-3804	66	7	(	(	PUNCT
fsr-3804	66	8	~	~	PUNCT
fsr-3804	66	9	years	year	NOUN
fsr-3804	66	10	figure	figure	NOUN
fsr-3804	66	11	l	l	PROPN
fsr-3804	66	12	.	.	PUNCT
fsr-3804	67	1	time	time	PROPN
fsr-3804	67	2	series	series	PROPN
fsr-3804	67	3	plot	plot	NOUN
fsr-3804	67	4	of	of	ADP
fsr-3804	67	5	return	return	NOUN
fsr-3804	67	6	on	on	ADP
fsr-3804	67	7	equity	equity	NOUN
fsr-3804	67	8	(	(	PUNCT
fsr-3804	67	9	roe	roe	PROPN
fsr-3804	67	10	)	)	PUNCT
fsr-3804	67	11	for	for	ADP
fsr-3804	67	12	fortune	fortune	NOUN
fsr-3804	67	13	500	500	NUM
fsr-3804	67	14	s&p	s&p	PROPN
fsr-3804	67	15	400	400	NUM
fsr-3804	67	16	:	:	PUNCT
fsr-3804	67	17	1956	1956	NUM
fsr-3804	67	18	-	-	SYM
fsr-3804	67	19	1995	1995	NUM
fsr-3804	67	20	.	.	PUNCT
fsr-3804	68	1	1	1	NUM
fsr-3804	68	2	7	7	NUM
fsr-3804	68	3	.	.	PUNCT
fsr-3804	68	4	0	0	NUM
fsr-3804	68	5	1	1	NUM
fsr-3804	68	6	6	6	NUM
fsr-3804	68	7	.	.	PUNCT
fsr-3804	68	8	0	0	NUM
fsr-3804	68	9	1	1	NUM
fsr-3804	68	10	5	5	NUM
fsr-3804	68	11	.	.	PUNCT
fsr-3804	68	12	0	0	NUM
fsr-3804	68	13	1	1	NUM
fsr-3804	68	14	4	4	NUM
fsr-3804	68	15	.	.	PUNCT
fsr-3804	68	16	0	0	NUM
fsr-3804	68	17	1	1	NUM
fsr-3804	68	18	3	3	NUM
fsr-3804	68	19	.	.	PUNCT
fsr-3804	68	20	0	0	NUM
fsr-3804	68	21	1	1	NUM
fsr-3804	68	22	2	2	NUM
fsr-3804	68	23	.	.	PUNCT
fsr-3804	68	24	0	0	NUM
fsr-3804	68	25	1	1	NUM
fsr-3804	68	26	1	1	NUM
fsr-3804	68	27	.	.	PUNCT
fsr-3804	68	28	0	0	NUM
fsr-3804	69	1	1	1	NUM
fsr-3804	69	2	0	0	NUM
fsr-3804	69	3	.	.	PUNCT
fsr-3804	69	4	0	0	NUM
fsr-3804	70	1	9	9	NUM
fsr-3804	70	2	.	.	PUNCT
fsr-3804	70	3	0	0	NUM
fsr-3804	71	1	8	8	NUM
fsr-3804	71	2	.0	.0	NUM
fsr-3804	71	3	is	be	AUX
fsr-3804	71	4	correlated	correlate	VERB
fsr-3804	71	5	very	very	ADV
fsr-3804	71	6	highly	highly	ADV
fsr-3804	71	7	to	to	ADP
fsr-3804	71	8	the	the	DET
fsr-3804	71	9	s&p	s&p	PROPN
fsr-3804	71	10	400	400	NUM
fsr-3804	71	11	industrial	industrial	ADJ
fsr-3804	71	12	series	series	NOUN
fsr-3804	71	13	.	.	PUNCT
fsr-3804	72	1	table	table	NOUN
fsr-3804	72	2	1	1	NUM
fsr-3804	72	3	contains	contain	VERB
fsr-3804	72	4	the	the	DET
fsr-3804	72	5	dataand	dataand	NOUN
fsr-3804	72	6	the	the	DET
fsr-3804	72	7	ratios	ratio	NOUN
fsr-3804	72	8	for	for	ADP
fsr-3804	72	9	the	the	DET
fsr-3804	72	10	40	40	NUM
fsr-3804	72	11	-	-	PUNCT
fsr-3804	72	12	year	year	NOUN
fsr-3804	72	13	period	period	NOUN
fsr-3804	72	14	1956	1956	NUM
fsr-3804	72	15	-	-	SYM
fsr-3804	72	16	1995	1995	NUM
fsr-3804	72	17	wherein	wherein	SCONJ
fsr-3804	72	18	the	the	DET
fsr-3804	72	19	data	datum	NOUN
fsr-3804	72	20	are	be	AUX
fsr-3804	72	21	for	for	ADP
fsr-3804	72	22	the	the	DET
fsr-3804	72	23	fortune	fortune	NOUN
fsr-3804	72	24	500	500	NUM
fsr-3804	72	25	during	during	ADP
fsr-3804	72	26	the	the	DET
fsr-3804	72	27	period	period	NOUN
fsr-3804	72	28	1956	1956	NUM
fsr-3804	72	29	-	-	SYM
fsr-3804	72	30	1976	1976	NUM
fsr-3804	72	31	and	and	CCONJ
fsr-3804	72	32	for	for	ADP
fsr-3804	72	33	the	the	DET
fsr-3804	72	34	s&p	s&p	PROPN
fsr-3804	72	35	400	400	NUM
fsr-3804	72	36	for	for	ADP
fsr-3804	72	37	the	the	DET
fsr-3804	72	38	period	period	NOUN
fsr-3804	72	39	1977	1977	NUM
fsr-3804	72	40	-	-	SYM
fsr-3804	72	41	1995	1995	NUM
fsr-3804	72	42	.	.	PUNCT
fsr-3804	73	1	figure	figure	NOUN
fsr-3804	73	2	1	1	NUM
fsr-3804	73	3	shows	show	VERB
fsr-3804	73	4	that	that	SCONJ
fsr-3804	73	5	the	the	DET
fsr-3804	73	6	roe	roe	NOUN
fsr-3804	73	7	ranged	range	VERB
fsr-3804	73	8	from	from	ADP
fsr-3804	73	9	about	about	ADV
fsr-3804	73	10	10	10	NUM
fsr-3804	73	11	to	to	PART
fsr-3804	73	12	17	17	NUM
fsr-3804	73	13	percent	percent	NOUN
fsr-3804	73	14	,	,	PUNCT
fsr-3804	73	15	but	but	CCONJ
fsr-3804	73	16	began	begin	VERB
fsr-3804	73	17	at	at	ADP
fsr-3804	73	18	about	about	ADV
fsr-3804	73	19	13	13	NUM
fsr-3804	73	20	percent	percent	NOUN
fsr-3804	73	21	and	and	CCONJ
fsr-3804	73	22	was	be	AUX
fsr-3804	73	23	at	at	ADP
fsr-3804	73	24	13	13	NUM
fsr-3804	73	25	per	per	NOUN
fsr-3804	73	26	cent	cent	NOUN
fsr-3804	73	27	in	in	ADP
fsr-3804	73	28	1993	1993	NUM
fsr-3804	73	29	prior	prior	ADV
fsr-3804	73	30	to	to	ADP
fsr-3804	73	31	a	a	DET
fsr-3804	73	32	spurt	spurt	NOUN
fsr-3804	73	33	to	to	ADP
fsr-3804	73	34	about	about	ADV
fsr-3804	73	35	17	17	NUM
fsr-3804	73	36	percent	percent	NOUN
fsr-3804	73	37	in	in	ADP
fsr-3804	73	38	1994	1994	NUM
fsr-3804	73	39	and	and	CCONJ
fsr-3804	73	40	1995	1995	NUM
fsr-3804	73	41	.	.	PUNCT
fsr-3804	74	1	the	the	DET
fsr-3804	74	2	significant	significant	ADJ
fsr-3804	74	3	question	question	NOUN
fsr-3804	74	4	is	be	AUX
fsr-3804	74	5	:	:	PUNCT
fsr-3804	74	6	"	"	PUNCT
fsr-3804	74	7	how	how	SCONJ
fsr-3804	74	8	did	do	AUX
fsr-3804	74	9	the	the	DET
fsr-3804	74	10	three	three	NUM
fsr-3804	74	11	components	component	NOUN
fsr-3804	74	12	of	of	ADP
fsr-3804	74	13	roe	roe	PROPN
fsr-3804	74	14	contribute	contribute	VERB
fsr-3804	74	15	to	to	ADP
fsr-3804	74	16	this	this	DET
fsr-3804	74	17	performance	performance	NOUN
fsr-3804	74	18	?	?	PUNCT
fsr-3804	74	19	"	"	PUNCT
fsr-3804	74	20	we	we	PRON
fsr-3804	74	21	know	know	VERB
fsr-3804	74	22	that	that	SCONJ
fsr-3804	74	23	9.0	9.0	NUM
fsr-3804	74	24	,	,	PUNCT
fsr-3804	74	25	9.0	9.0	NUM
fsr-3804	74	26	8.o	8.o	NUM
fsr-3804	74	27	7	7	NUM
fsr-3804	74	28	.	.	PUNCT
fsr-3804	74	29	0	0	NUM
fsr-3804	75	1	6	6	NUM
fsr-3804	75	2	.	.	PUNCT
fsr-3804	75	3	0	0	PUNCT
fsr-3804	76	1	<	<	X
fsr-3804	76	2	0	0	NUM
fsr-3804	76	3	n	n	CCONJ
fsr-3804	76	4	,	,	PUNCT
fsr-3804	76	5	5.o	5.o	NUM
fsr-3804	76	6	4.o	4.o	NUM
fsr-3804	76	7	3	3	NUM
fsr-3804	76	8	.	.	PUNCT
fsr-3804	77	1	o	o	NOUN
fsr-3804	77	2	\	\	PROPN
fsr-3804	78	1	v	v	ADP
fsr-3804	78	2	6	6	NUM
fsr-3804	78	3	.0	.0	NUM
fsr-3804	78	4	7	7	NUM
fsr-3804	78	5	.	.	PUNCT
fsr-3804	78	6	0	0	NUM
fsr-3804	79	1	6	6	NUM
fsr-3804	79	2	.	.	NOUN
fsr-3804	79	3	0	0	NUM
fsr-3804	80	1	5	5	NUM
fsr-3804	80	2	.	.	PUNCT
fsr-3804	80	3	0	0	NUM
fsr-3804	81	1	4	4	NUM
fsr-3804	81	2	.	.	NOUN
fsr-3804	81	3	0	0	NUM
fsr-3804	82	1	3	3	NUM
fsr-3804	82	2	.	.	PUNCT
fsr-3804	82	3	0	0	NUM
fsr-3804	83	1	figure	figure	NOUN
fsr-3804	83	2	2	2	NUM
fsr-3804	83	3	.	.	NOUN
fsr-3804	83	4	time	time	NOUN
fsr-3804	83	5	series	series	PROPN
fsr-3804	83	6	plot	plot	NOUN
fsr-3804	83	7	of	of	ADP
fsr-3804	83	8	return	return	NOUN
fsr-3804	83	9	on	on	ADP
fsr-3804	83	10	assets	asset	NOUN
fsr-3804	83	11	(	(	PUNCT
fsr-3804	83	12	roa	roa	NOUN
fsr-3804	83	13	)	)	PUNCT
fsr-3804	83	14	for	for	ADP
fsr-3804	83	15	fortune	fortune	NOUN
fsr-3804	83	16	500	500	NUM
fsr-3804	83	17	s	s	NOUN
fsr-3804	83	18	&	&	CCONJ
fsr-3804	83	19	p	p	NOUN
fsr-3804	83	20	400	400	NUM
fsr-3804	83	21	:	:	PUNCT
fsr-3804	83	22	1956	1956	NUM
fsr-3804	83	23	-	-	SYM
fsr-3804	83	24	1995	1995	NUM
fsr-3804	83	25	.	.	PUNCT
fsr-3804	84	1	2	2	NUM
fsr-3804	84	2	.	.	NUM
fsr-3804	84	3	0	0	NUM
fsr-3804	84	4	,	,	PUNCT
fsr-3804	84	5	:	:	PUNCT
fsr-3804	84	6	:	:	PUNCT
fsr-3804	84	7	:	:	PUNCT
fsr-3804	84	8	:	:	PUNCT
fsr-3804	84	9	:	:	PUNCT
fsr-3804	84	10	:	:	PUNCT
fsr-3804	84	11	:	:	PUNCT
fsr-3804	84	12	:	:	PUNCT
fsr-3804	84	13	:	:	PUNCT
fsr-3804	84	14	:	:	PUNCT
fsr-3804	84	15	:	:	PUNCT
fsr-3804	84	16	:	:	PUNCT
fsr-3804	84	17	:	:	PUNCT
fsr-3804	84	18	i	i	PRON
fsr-3804	84	19	i	i	PRON
fsr-3804	84	20	i	i	PRON
fsr-3804	84	21	:	:	PUNCT
fsr-3804	84	22	:	:	PUNCT
fsr-3804	84	23	:	:	PUNCT
fsr-3804	84	24	,	,	PUNCT
fsr-3804	84	25	'	'	PUNCT
fsr-3804	84	26	:	:	PUNCT
fsr-3804	84	27	:	:	PUNCT
fsr-3804	84	28	;	;	PUNCT
fsr-3804	84	29	:	:	PUNCT
fsr-3804	84	30	:	:	PUNCT
fsr-3804	84	31	*	*	X
fsr-3804	84	32	.	.	PUNCT
fsr-3804	84	33	"	"	PUNCT
fsr-3804	84	34	:	:	PUNCT
fsr-3804	84	35	:	:	PUNCT
fsr-3804	84	36	:	:	PUNCT
fsr-3804	84	37	i	i	PRON
fsr-3804	85	1	i	i	PRON
fsr-3804	85	2	i	i	PRON
fsr-3804	86	1	i	i	PRON
fsr-3804	86	2	i	i	PRON
fsr-3804	87	1	i	i	PRON
fsr-3804	87	2	i	i	PRON
fsr-3804	87	3	i	i	VERB
fsr-3804	87	4	7	7	NUM
fsr-3804	87	5	,	,	PUNCT
fsr-3804	87	6	.0	.0	NUM
fsr-3804	87	7	io	io	X
fsr-3804	87	8	lid	lid	NOUN
fsr-3804	87	9	lid	lid	NOUN
fsr-3804	87	10	io	io	X
fsr-3804	87	11	~-	~-	PROPN
fsr-3804	87	12	*	*	X
fsr-3804	87	13	i~.	i~.	X
fsr-3804	87	14	go	go	VERB
fsr-3804	87	15	lid	lid	NOUN
fsr-3804	87	16	40	40	NUM
fsr-3804	87	17	gd	gd	PROPN
fsr-3804	87	18	c/	c/	NOUN
fsr-3804	87	19	)	)	PUNCT
fsr-3804	88	1	o~	o~	PROPN
fsr-3804	88	2	cd	cd	NOUN
fsr-3804	88	3	cll	cll	NOUN
fsr-3804	88	4	o~	o~	PROPN
fsr-3804	88	5	1~	1~	NUM
fsr-3804	88	6	o	o	NOUN
fsr-3804	88	7	)	)	PUNCT
fsr-3804	88	8	old	old	ADJ
fsr-3804	88	9	o	o	NOUN
fsr-3804	88	10	)	)	PUNCT
fsr-3804	88	11	oi	oi	PROPN
fsr-3804	88	12	ci~	ci~	PROPN
fsr-3804	88	13	c~	c~	PROPN
fsr-3804	88	14	cd	cd	PROPN
fsr-3804	88	15	cl	cl	NOUN
fsr-3804	88	16	)	)	PUNCT
fsr-3804	88	17	o'j	o'j	PROPN
fsr-3804	88	18	years	year	NOUN
fsr-3804	88	19	1.3	1.3	NUM
fsr-3804	88	20	5	5	NUM
fsr-3804	88	21	1.4	1.4	NUM
fsr-3804	88	22	"	"	PUNCT
fsr-3804	88	23	k	k	PROPN
fsr-3804	88	24	.	.	PUNCT
fsr-3804	88	25	.	.	PUNCT
fsr-3804	88	26	/	/	SYM
fsr-3804	88	27	1.2	1.2	NUM
fsr-3804	88	28	1.1	1.1	NUM
fsr-3804	88	29	1.0	1.0	NUM
fsr-3804	88	30	0.9	0.9	NUM
fsr-3804	88	31	the	the	DET
fsr-3804	88	32	impact	impact	NOUN
fsr-3804	88	33	of	of	ADP
fsr-3804	88	34	inflation	inflation	NOUN
fsr-3804	88	35	1.3	1.3	NUM
fsr-3804	88	36	1.2	1.2	NUM
fsr-3804	88	37	1.1	1.1	NUM
fsr-3804	88	38	1.0	1.0	NUM
fsr-3804	88	39	0.9	0.9	NUM
fsr-3804	88	40	0.8	0.8	NUM
fsr-3804	88	41	.	.	PUNCT
fsr-3804	89	1	:	:	PUNCT
fsr-3804	89	2	:	:	PUNCT
fsr-3804	89	3	.~	.~	NOUN
fsr-3804	89	4	:	:	PUNCT
fsr-3804	89	5	:	:	PUNCT
fsr-3804	89	6	'	'	PUNCT
fsr-3804	89	7	.	.	PUNCT
fsr-3804	90	1	:	:	PUNCT
fsr-3804	90	2	:	:	PUNCT
fsr-3804	90	3	'	'	PUNCT
fsr-3804	90	4	.	.	PUNCT
fsr-3804	91	1	:	:	PUNCT
fsr-3804	91	2	:	:	PUNCT
fsr-3804	91	3	:	:	PUNCT
fsr-3804	91	4	;	;	PUNCT
fsr-3804	91	5	i	i	PRON
fsr-3804	91	6	,	,	PUNCT
fsr-3804	91	7	~	~	PUNCT
fsr-3804	91	8	~	~	PUNCT
fsr-3804	91	9	[	[	PUNCT
fsr-3804	91	10	[	[	PUNCT
fsr-3804	91	11	~	~	PUNCT
fsr-3804	91	12	[	[	PUNCT
fsr-3804	91	13	i	i	PRON
fsr-3804	91	14	i	i	PRON
fsr-3804	91	15	i	i	PRON
fsr-3804	91	16	i	i	PRON
fsr-3804	92	1	i	i	PRON
fsr-3804	92	2	i	i	PRON
fsr-3804	93	1	i	i	PRON
fsr-3804	93	2	i	i	PRON
fsr-3804	94	1	i	i	VERB
fsr-3804	94	2	1	1	NUM
fsr-3804	95	1	i	i	PRON
fsr-3804	95	2	i	i	PRON
fsr-3804	96	1	i	i	PRON
fsr-3804	96	2	i	i	PRON
fsr-3804	97	1	i	i	PRON
fsr-3804	97	2	i	i	PRON
fsr-3804	98	1	i	i	PRON
fsr-3804	98	2	0.8	0.8	NUM
fsr-3804	98	3	years	year	NOUN
fsr-3804	98	4	figure	figure	VERB
fsr-3804	98	5	3	3	NUM
fsr-3804	98	6	.	.	NOUN
fsr-3804	98	7	time	time	PROPN
fsr-3804	98	8	series	series	PROPN
fsr-3804	98	9	plot	plot	NOUN
fsr-3804	98	10	of	of	ADP
fsr-3804	98	11	total	total	ADJ
fsr-3804	98	12	asset	asset	NOUN
fsr-3804	98	13	turnover	turnover	NOUN
fsr-3804	98	14	(	(	PUNCT
fsr-3804	98	15	tat	tat	NOUN
fsr-3804	98	16	)	)	PUNCT
fsr-3804	98	17	for	for	ADP
fsr-3804	98	18	forame	forame	NOUN
fsr-3804	98	19	500s&p	500s&p	PROPN
fsr-3804	98	20	400:1956	400:1956	NUM
fsr-3804	98	21	-	-	SYM
fsr-3804	98	22	1995	1995	NUM
fsr-3804	98	23	.	.	PUNCT
fsr-3804	99	1	the	the	DET
fsr-3804	99	2	product	product	NOUN
fsr-3804	99	3	of	of	ADP
fsr-3804	99	4	the	the	DET
fsr-3804	99	5	first	first	ADJ
fsr-3804	99	6	two	two	NUM
fsr-3804	99	7	ratios	ratio	NOUN
fsr-3804	99	8	[	[	X
fsr-3804	99	9	total	total	ADJ
fsr-3804	99	10	asset	asset	NOUN
fsr-3804	99	11	turnover	turnover	NOUN
fsr-3804	99	12	(	(	PUNCT
fsr-3804	99	13	tat	tat	NOUN
fsr-3804	99	14	)	)	PUNCT
fsr-3804	99	15	and	and	CCONJ
fsr-3804	99	16	net	net	ADJ
fsr-3804	99	17	profit	profit	NOUN
fsr-3804	99	18	margin	margin	NOUN
fsr-3804	99	19	(	(	PUNCT
fsr-3804	99	20	pm	pm	NOUN
fsr-3804	99	21	)	)	PUNCT
fsr-3804	99	22	]	]	PUNCT
fsr-3804	99	23	,	,	PUNCT
fsr-3804	99	24	equals	equal	VERB
fsr-3804	99	25	return	return	NOUN
fsr-3804	99	26	on	on	ADP
fsr-3804	99	27	assets	asset	NOUN
fsr-3804	99	28	(	(	PUNCT
fsr-3804	99	29	roa	roa	PROPN
fsr-3804	99	30	)	)	PUNCT
fsr-3804	99	31	.	.	PUNCT
fsr-3804	100	1	the	the	DET
fsr-3804	100	2	plot	plot	NOUN
fsr-3804	100	3	in	in	ADP
fsr-3804	100	4	figure	figure	NOUN
fsr-3804	100	5	2	2	NUM
fsr-3804	100	6	shows	show	VERB
fsr-3804	100	7	that	that	SCONJ
fsr-3804	100	8	the	the	DET
fsr-3804	100	9	roa	roa	NOUN
fsr-3804	100	10	has	have	AUX
fsr-3804	100	11	generally	generally	ADV
fsr-3804	100	12	declined	decline	VERB
fsr-3804	100	13	from	from	ADP
fsr-3804	100	14	about	about	ADV
fsr-3804	100	15	8	8	NUM
fsr-3804	100	16	percent	percent	NOUN
fsr-3804	100	17	in	in	ADP
fsr-3804	100	18	1956	1956	NUM
fsr-3804	100	19	to	to	ADP
fsr-3804	100	20	5	5	NUM
fsr-3804	100	21	percent	percent	NOUN
fsr-3804	100	22	in	in	ADP
fsr-3804	100	23	1994	1994	NUM
fsr-3804	100	24	-	-	SYM
fsr-3804	100	25	1995	1995	NUM
fsr-3804	100	26	after	after	ADP
fsr-3804	100	27	a	a	DET
fsr-3804	100	28	trough	trough	NOUN
fsr-3804	100	29	of	of	ADP
fsr-3804	100	30	2.9	2.9	NUM
fsr-3804	100	31	per	per	ADP
fsr-3804	100	32	cent	cent	NOUN
fsr-3804	100	33	in	in	ADP
fsr-3804	100	34	1991	1991	NUM
fsr-3804	100	35	.	.	PUNCT
fsr-3804	101	1	the	the	DET
fsr-3804	101	2	fact	fact	NOUN
fsr-3804	101	3	is	be	AUX
fsr-3804	101	4	,	,	PUNCT
fsr-3804	101	5	both	both	CCONJ
fsr-3804	101	6	tat	tat	ADJ
fsr-3804	101	7	and	and	CCONJ
fsr-3804	101	8	pm	pm	NOUN
fsr-3804	101	9	contributed	contribute	VERB
fsr-3804	101	10	to	to	ADP
fsr-3804	101	11	the	the	DET
fsr-3804	101	12	overall	overall	ADJ
fsr-3804	101	13	decline	decline	NOUN
fsr-3804	101	14	.	.	PUNCT
fsr-3804	102	1	as	as	SCONJ
fsr-3804	102	2	shown	show	VERB
fsr-3804	102	3	in	in	ADP
fsr-3804	102	4	table	table	NOUN
fsr-3804	102	5	1	1	NUM
fsr-3804	102	6	nominal	nominal	ADJ
fsr-3804	102	7	and	and	CCONJ
fsr-3804	102	8	real	real	ADJ
fsr-3804	102	9	rates	rate	NOUN
fsr-3804	102	10	of	of	ADP
fsr-3804	102	11	return	return	NOUN
fsr-3804	102	12	for	for	ADP
fsr-3804	102	13	the	the	DET
fsr-3804	102	14	s&p	s&p	PROPN
fsr-3804	102	15	;	;	PUNCT
fsr-3804	102	16	500	500	NUM
fsr-3804	102	17	return	return	NOUN
fsr-3804	102	18	on	on	ADP
fsr-3804	102	19	equity	equity	NOUN
fsr-3804	102	20	and	and	CCONJ
fsr-3804	102	21	dupont	dupont	NOUN
fsr-3804	102	22	components	component	NOUN
fsr-3804	102	23	for	for	ADP
fsr-3804	102	24	fortune	fortune	NOUN
fsr-3804	102	25	500	500	NUM
fsr-3804	102	26	and	and	CCONJ
fsr-3804	102	27	s&p	s&p	PROPN
fsr-3804	102	28	400:1956	400:1956	PROPN
fsr-3804	102	29	-	-	SYM
fsr-3804	102	30	1995	1995	NUM
fsr-3804	102	31	s	s	NOUN
fsr-3804	102	32	~	~	PUNCT
fsr-3804	102	33	p	p	X
fsr-3804	102	34	5oo	5oo	NOUN
fsr-3804	102	35	~n~	~n~	PUNCT
fsr-3804	102	36	ady	ady	PROPN
fsr-3804	102	37	total	total	ADJ
fsr-3804	102	38	u.s	u.s	PROPN
fsr-3804	102	39	.	.	PROPN
fsr-3804	102	40	lnflas&p	lnflas&p	PROPN
fsr-3804	102	41	500	500	NUM
fsr-3804	102	42	total	total	ADJ
fsr-3804	102	43	asset	asset	NOUN
fsr-3804	102	44	profit	profit	NOUN
fsr-3804	102	45	return	return	NOUN
fsr-3804	102	46	on	on	ADP
fsr-3804	102	47	t.	t.	NOUN
fsr-3804	102	48	assets	asset	NOUN
fsr-3804	102	49	to	to	PART
fsr-3804	102	50	return	return	VERB
fsr-3804	102	51	on	on	ADP
fsr-3804	102	52	return	return	NOUN
fsr-3804	102	53	tion	tion	NOUN
fsr-3804	102	54	rate	rate	NOUN
fsr-3804	102	55	%	%	NOUN
fsr-3804	102	56	tr	tr	VERB
fsr-3804	102	57	turnover	turnover	NOUN
fsr-3804	102	58	*	*	PUNCT
fsr-3804	102	59	margin	margin	NOUN
fsr-3804	102	60	*	*	NOUN
fsr-3804	102	61	assets	asset	NOUN
fsr-3804	102	62	*	*	PUNCT
fsr-3804	102	63	equip	equip	PROPN
fsr-3804	102	64	*	*	PROPN
fsr-3804	102	65	equity	equity	PROPN
fsr-3804	102	66	*	*	PROPN
fsr-3804	102	67	1956	1956	NUM
fsr-3804	102	68	6.56	6.56	NUM
fsr-3804	102	69	2.86	2.86	NUM
fsr-3804	102	70	3.59	3.59	NUM
fsr-3804	102	71	1.25	1.25	NUM
fsr-3804	102	72	6.6	6.6	NUM
fsr-3804	102	73	8.3	8.3	NUM
fsr-3804	102	74	1.59	1.59	NUM
fsr-3804	102	75	13	13	NUM
fsr-3804	102	76	.	.	PUNCT
fsr-3804	103	1	lo	lo	PROPN
fsr-3804	103	2	1957	1957	NUM
fsr-3804	103	3	-10.78	-10.78	PROPN
fsr-3804	103	4	3.02	3.02	NUM
fsr-3804	103	5	-13.40	-13.40	SYM
fsr-3804	103	6	1.27	1.27	NUM
fsr-3804	103	7	6.2	6.2	NUM
fsr-3804	103	8	7.9	7.9	NUM
fsr-3804	103	9	1.57	1.57	NUM
fsr-3804	103	10	12.30	12.30	NUM
fsr-3804	103	11	1958	1958	NUM
fsr-3804	103	12	43.36	43.36	NUM
fsr-3804	103	13	1.76	1.76	NUM
fsr-3804	103	14	40.88	40.88	NUM
fsr-3804	103	15	1.15	1.15	NUM
fsr-3804	103	16	5.4	5.4	NUM
fsr-3804	103	17	6.2	6.2	NUM
fsr-3804	103	18	1.53	1.53	NUM
fsr-3804	103	19	9.50	9.50	NUM
fsr-3804	103	20	1959	1959	NUM
fsr-3804	103	21	11.96	11.96	NUM
fsr-3804	103	22	1.50	1.50	NUM
fsr-3804	103	23	10.30	10.30	NUM
fsr-3804	103	24	1.17	1.17	NUM
fsr-3804	103	25	6.1	6.1	NUM
fsr-3804	103	26	7.1	7.1	NUM
fsr-3804	103	27	1.55	1.55	NUM
fsr-3804	103	28	11.00	11.00	NUM
fsr-3804	103	29	1960	1960	NUM
fsr-3804	103	30	0.47	0.47	NUM
fsr-3804	103	31	1.48	1.48	NUM
fsr-3804	103	32	-0.99	-0.99	NOUN
fsr-3804	103	33	1.16	1.16	NUM
fsr-3804	103	34	5.7	5.7	NUM
fsr-3804	103	35	6.6	6.6	NUM
fsr-3804	103	36	1.53	1.53	NUM
fsr-3804	103	37	10	10	NUM
fsr-3804	103	38	.	.	PUNCT
fsr-3804	104	1	i0	i0	PROPN
fsr-3804	104	2	1961	1961	NUM
fsr-3804	104	3	26.89	26.89	NUM
fsr-3804	104	4	0.67	0.67	NUM
fsr-3804	104	5	26.04	26.04	NUM
fsr-3804	104	6	1.12	1.12	NUM
fsr-3804	104	7	5.6	5.6	NUM
fsr-3804	104	8	6.2	6.2	NUM
fsr-3804	104	9	1.54	1.54	NUM
fsr-3804	104	10	9.60	9.60	NUM
fsr-3804	104	11	1962	1962	NUM
fsr-3804	104	12	-8.73	-8.73	ADV
fsr-3804	104	13	1.22	1.22	NUM
fsr-3804	104	14	-9.83	-9.83	NUM
fsr-3804	104	15	1.16	1.16	NUM
fsr-3804	104	16	5.9	5.9	NUM
fsr-3804	104	17	6.8	6.8	NUM
fsr-3804	104	18	1.55	1.55	NUM
fsr-3804	104	19	10.60	10.60	NUM
fsr-3804	104	20	1963	1963	NUM
fsr-3804	104	21	22.80	22.80	NUM
fsr-3804	104	22	1.65	1.65	NUM
fsr-3804	104	23	20.81	20.81	NUM
fsr-3804	104	24	1.17	1.17	NUM
fsr-3804	104	25	6.1	6.1	NUM
fsr-3804	104	26	7.1	7.1	NUM
fsr-3804	104	27	1.56	1.56	NUM
fsr-3804	104	28	11.10	11.10	NUM
fsr-3804	104	29	1964	1964	NUM
fsr-3804	104	30	16.48	16.48	NUM
fsr-3804	104	31	1.19	1.19	NUM
fsr-3804	104	32	15.11	15.11	NUM
fsr-3804	104	33	1.19	1.19	NUM
fsr-3804	104	34	6.5	6.5	NUM
fsr-3804	104	35	7.7	7.7	NUM
fsr-3804	104	36	1.58	1.58	NUM
fsr-3804	104	37	12.10	12.10	NUM
fsr-3804	104	38	1965	1965	NUM
fsr-3804	104	39	12.45	12.45	NUM
fsr-3804	104	40	1.92	1.92	NUM
fsr-3804	104	41	10.33	10.33	NUM
fsr-3804	104	42	1.18	1.18	NUM
fsr-3804	104	43	6.7	6.7	NUM
fsr-3804	104	44	8.0	8.0	NUM
fsr-3804	104	45	1.63	1.63	NUM
fsr-3804	104	46	13.00	13.00	NUM
fsr-3804	104	47	(	(	PUNCT
fsr-3804	104	48	continued	continue	VERB
fsr-3804	104	49	)	)	PUNCT
fsr-3804	104	50	6	6	NUM
fsr-3804	104	51	financial	financial	ADJ
fsr-3804	104	52	services	service	NOUN
fsr-3804	104	53	review	review	VERB
fsr-3804	104	54	6(1	6(1	NUM
fsr-3804	104	55	)	)	PUNCT
fsr-3804	104	56	1997	1997	NUM
fsr-3804	104	57	table	table	NOUN
fsr-3804	104	58	1	1	NUM
fsr-3804	104	59	(	(	PUNCT
fsr-3804	104	60	continued	continued	ADJ
fsr-3804	104	61	)	)	PUNCT
fsr-3804	104	62	s&p	s&p	PROPN
fsr-3804	104	63	500	500	NUM
fsr-3804	104	64	lnfi	lnfi	NOUN
fsr-3804	104	65	adj	adj	PROPN
fsr-3804	104	66	total	total	PROPN
fsr-3804	104	67	u.s	u.s	PROPN
fsr-3804	104	68	.	.	PROPN
fsr-3804	104	69	lnflas&p	lnflas&p	PROPN
fsr-3804	104	70	500	500	NUM
fsr-3804	104	71	return	return	NOUN
fsr-3804	104	72	tion	tion	NOUN
fsr-3804	104	73	rate	rate	NOUN
fsr-3804	104	74	%	%	NOUN
fsr-3804	104	75	tr	tr	VERB
fsr-3804	104	76	total	total	ADJ
fsr-3804	104	77	asset	asset	NOUN
fsr-3804	104	78	profit	profit	NOUN
fsr-3804	104	79	return	return	NOUN
fsr-3804	104	80	on	on	ADP
fsr-3804	104	81	t.	t.	NOUN
fsr-3804	104	82	assets	asset	NOUN
fsr-3804	104	83	to	to	PART
fsr-3804	104	84	return	return	VERB
fsr-3804	104	85	on	on	ADP
fsr-3804	104	86	turnover	turnover	NOUN
fsr-3804	104	87	*	*	PUNCT
fsr-3804	104	88	margin	margin	NOUN
fsr-3804	104	89	*	*	NOUN
fsr-3804	104	90	assets	asset	NOUN
fsr-3804	104	91	*	*	VERB
fsr-3804	104	92	equity	equity	NOUN
fsr-3804	104	93	*	*	PUNCT
fsr-3804	104	94	equity	equity	PROPN
fsr-3804	104	95	*	*	PROPN
fsr-3804	104	96	1966	1966	NUM
fsr-3804	104	97	-10.06	-10.06	PUNCT
fsr-3804	104	98	3.35	3.35	NUM
fsr-3804	104	99	-12.98	-12.98	NUM
fsr-3804	104	100	1.18	1.18	NUM
fsr-3804	104	101	6.6	6.6	NUM
fsr-3804	104	102	7.8	7.8	NUM
fsr-3804	104	103	1.69	1.69	NUM
fsr-3804	104	104	13.20	13.20	NUM
fsr-3804	104	105	1967	1967	NUM
fsr-3804	104	106	23.98	23.98	NUM
fsr-3804	104	107	3.04	3.04	NUM
fsr-3804	104	108	20.32	20.32	NUM
fsr-3804	104	109	1.13	1.13	NUM
fsr-3804	104	110	6.0	6.0	NUM
fsr-3804	104	111	6.8	6.8	NUM
fsr-3804	104	112	1.74	1.74	NUM
fsr-3804	104	113	11.80	11.80	NUM
fsr-3804	104	114	1968	1968	NUM
fsr-3804	104	115	11.06	11.06	NUM
fsr-3804	104	116	4.73	4.73	NUM
fsr-3804	104	117	6.05	6.05	NUM
fsr-3804	104	118	1.12	1.12	NUM
fsr-3804	104	119	5.6	5.6	NUM
fsr-3804	104	120	6.7	6.7	NUM
fsr-3804	104	121	1.82	1.82	NUM
fsr-3804	104	122	12.20	12.20	NUM
fsr-3804	104	123	1969	1969	NUM
fsr-3804	104	124	-8.51	-8.51	NOUN
fsr-3804	104	125	6.11	6.11	NUM
fsr-3804	104	126	-13.77	-13.77	NUM
fsr-3804	104	127	1.11	1.11	NUM
fsr-3804	104	128	5.5	5.5	NUM
fsr-3804	104	129	6.1	6.1	NUM
fsr-3804	104	130	1.87	1.87	NUM
fsr-3804	104	131	11.50	11.50	NUM
fsr-3804	104	132	1970	1970	NUM
fsr-3804	104	133	4.01	4.01	NUM
fsr-3804	104	134	5.49	5.49	NUM
fsr-3804	104	135	-1.41	-1.41	NOUN
fsr-3804	104	136	1.07	1.07	NUM
fsr-3804	104	137	4.7	4.7	NUM
fsr-3804	104	138	5.0	5.0	NUM
fsr-3804	104	139	1.90	1.90	NUM
fsr-3804	104	140	9.50	9.50	NUM
fsr-3804	104	141	1971	1971	NUM
fsr-3804	104	142	14.31	14.31	NUM
fsr-3804	104	143	3.36	3.36	NUM
fsr-3804	104	144	10.60	10.60	NUM
fsr-3804	104	145	1.10	1.10	NUM
fsr-3804	104	146	4.7	4.7	NUM
fsr-3804	104	147	5.1	5.1	NUM
fsr-3804	104	148	1.90	1.90	NUM
fsr-3804	104	149	9.80	9.80	NUM
fsr-3804	104	150	1972	1972	NUM
fsr-3804	104	151	18.98	18.98	NUM
fsr-3804	104	152	3.41	3.41	NUM
fsr-3804	104	153	15.05	15.05	NUM
fsr-3804	104	154	1.15	1.15	NUM
fsr-3804	104	155	5.0	5.0	NUM
fsr-3804	104	156	5.7	5.7	NUM
fsr-3804	104	157	1.90	1.90	NUM
fsr-3804	104	158	10.90	10.90	NUM
fsr-3804	104	159	1973	1973	NUM
fsr-3804	104	160	-14.66	-14.66	PUNCT
fsr-3804	104	161	8.80	8.80	NUM
fsr-3804	104	162	-21.56	-21.56	NUM
fsr-3804	104	163	1.20	1.20	NUM
fsr-3804	104	164	5.8	5.8	NUM
fsr-3804	104	165	7.0	7.0	NUM
fsr-3804	104	166	1.96	1.96	NUM
fsr-3804	104	167	13.70	13.70	NUM
fsr-3804	104	168	1974	1974	NUM
fsr-3804	104	169	-26.47	-26.47	PROPN
fsr-3804	104	170	12.20	12.20	NUM
fsr-3804	104	171	-34.47	-34.47	NUM
fsr-3804	104	172	1.33	1.33	NUM
fsr-3804	104	173	5.2	5.2	NUM
fsr-3804	104	174	6.9	6.9	NUM
fsr-3804	104	175	2.03	2.03	NUM
fsr-3804	104	176	14.10	14.10	NUM
fsr-3804	104	177	1975	1975	NUM
fsr-3804	104	178	37.20	37.20	NUM
fsr-3804	104	179	7.01	7.01	NUM
fsr-3804	104	180	28.21	28.21	NUM
fsr-3804	104	181	1.29	1.29	NUM
fsr-3804	104	182	4.9	4.9	NUM
fsr-3804	104	183	6.5	6.5	NUM
fsr-3804	104	184	2.23	2.23	NUM
fsr-3804	104	185	14.43	14.43	NUM
fsr-3804	104	186	1976	1976	NUM
fsr-3804	104	187	23.84	23.84	NUM
fsr-3804	104	188	4.81	4.81	NUM
fsr-3804	104	189	18.16	18.16	NUM
fsr-3804	104	190	1.32	1.32	NUM
fsr-3804	104	191	5.1	5.1	NUM
fsr-3804	104	192	6.7	6.7	NUM
fsr-3804	104	193	2.01	2.01	NUM
fsr-3804	104	194	13.50	13.50	NUM
fsr-3804	104	195	1977	1977	NUM
fsr-3804	104	196	-7.18	-7.18	PUNCT
fsr-3804	104	197	6.77	6.77	NUM
fsr-3804	104	198	-13.07	-13.07	SYM
fsr-3804	104	199	1.27	1.27	NUM
fsr-3804	104	200	5.1	5.1	NUM
fsr-3804	104	201	6.5	6.5	NUM
fsr-3804	104	202	2.08	2.08	NUM
fsr-3804	104	203	13.47	13.47	NUM
fsr-3804	104	204	1978	1978	NUM
fsr-3804	104	205	6.56	6.56	NUM
fsr-3804	104	206	9.03	9.03	NUM
fsr-3804	104	207	-2.26	-2.26	NUM
fsr-3804	104	208	1.27	1.27	NUM
fsr-3804	104	209	5.2	5.2	NUM
fsr-3804	104	210	6.6	6.6	NUM
fsr-3804	104	211	2.15	2.15	NUM
fsr-3804	104	212	14.11	14.11	NUM
fsr-3804	104	213	1979	1979	NUM
fsr-3804	104	214	18.44	18.44	NUM
fsr-3804	104	215	13.31	13.31	NUM
fsr-3804	104	216	4.53	4.53	NUM
fsr-3804	104	217	1.30	1.30	NUM
fsr-3804	104	218	5.6	5.6	NUM
fsr-3804	104	219	7.2	7.2	NUM
fsr-3804	104	220	2.20	2.20	NUM
fsr-3804	104	221	15.90	15.90	NUM
fsr-3804	104	222	1980	1980	NUM
fsr-3804	104	223	32.16	32.16	NUM
fsr-3804	104	224	12.40	12.40	NUM
fsr-3804	104	225	17.81	17.81	NUM
fsr-3804	104	226	1.31	1.31	NUM
fsr-3804	104	227	4.9	4.9	NUM
fsr-3804	104	228	6.5	6.5	NUM
fsr-3804	104	229	2.23	2.23	NUM
fsr-3804	104	230	14.43	14.43	NUM
fsr-3804	104	231	1981	1981	NUM
fsr-3804	104	232	-4.91	-4.91	NUM
fsr-3804	104	233	8.94	8.94	NUM
fsr-3804	104	234	-12.71	-12.71	PROPN
fsr-3804	104	235	1.28	1.28	NUM
fsr-3804	104	236	4.9	4.9	NUM
fsr-3804	104	237	6.2	6.2	NUM
fsr-3804	104	238	2.25	2.25	NUM
fsr-3804	104	239	13.97	13.97	NUM
fsr-3804	104	240	1982	1982	NUM
fsr-3804	104	241	21.41	21.41	NUM
fsr-3804	104	242	3.87	3.87	NUM
fsr-3804	104	243	16.88	16.88	NUM
fsr-3804	104	244	1.17	1.17	NUM
fsr-3804	104	245	4.0	4.0	NUM
fsr-3804	104	246	4.6	4.6	NUM
fsr-3804	104	247	2.31	2.31	NUM
fsr-3804	104	248	10.73	10.73	NUM
fsr-3804	104	249	1983	1983	NUM
fsr-3804	104	250	22.51	22.51	NUM
fsr-3804	104	251	3.80	3.80	NUM
fsr-3804	104	252	18.03	18.03	NUM
fsr-3804	104	253	1.15	1.15	NUM
fsr-3804	104	254	4.4	4.4	NUM
fsr-3804	104	255	5.1	5.1	NUM
fsr-3804	104	256	2.28	2.28	NUM
fsr-3804	104	257	11.63	11.63	NUM
fsr-3804	104	258	1984	1984	NUM
fsr-3804	104	259	6.27	6.27	NUM
fsr-3804	104	260	3.95	3.95	NUM
fsr-3804	104	261	2.22	2.22	NUM
fsr-3804	104	262	1.27	1.27	NUM
fsr-3804	104	263	4.6	4.6	NUM
fsr-3804	104	264	5.8	5.8	NUM
fsr-3804	104	265	2.39	2.39	NUM
fsr-3804	104	266	13.86	13.86	NUM
fsr-3804	104	267	1985	1985	NUM
fsr-3804	104	268	32.16	32.16	NUM
fsr-3804	104	269	3.77	3.77	NUM
fsr-3804	104	270	27.36	27.36	NUM
fsr-3804	104	271	1.15	1.15	NUM
fsr-3804	104	272	3.8	3.8	NUM
fsr-3804	104	273	4.4	4.4	NUM
fsr-3804	104	274	2.54	2.54	NUM
fsr-3804	104	275	11.21	11.21	NUM
fsr-3804	104	276	1986	1986	NUM
fsr-3804	104	277	18.47	18.47	NUM
fsr-3804	104	278	1.13	1.13	NUM
fsr-3804	104	279	17.15	17.15	NUM
fsr-3804	104	280	1.07	1.07	NUM
fsr-3804	104	281	3.7	3.7	NUM
fsr-3804	104	282	4.0	4.0	NUM
fsr-3804	104	283	2.58	2.58	NUM
fsr-3804	104	284	10.33	10.33	NUM
fsr-3804	104	285	1987	1987	NUM
fsr-3804	104	286	5.23	5.23	NUM
fsr-3804	104	287	4.41	4.41	NUM
fsr-3804	104	288	0.79	0.79	NUM
fsr-3804	104	289	1.08	1.08	NUM
fsr-3804	104	290	4.7	4.7	NUM
fsr-3804	104	291	5.1	5.1	NUM
fsr-3804	104	292	2.62	2.62	NUM
fsr-3804	104	293	13.35	13.35	NUM
fsr-3804	104	294	1988	1988	NUM
fsr-3804	104	295	16.81	16.81	NUM
fsr-3804	104	296	4.42	4.42	NUM
fsr-3804	104	297	11.87	11.87	NUM
fsr-3804	104	298	0.98	0.98	NUM
fsr-3804	104	299	5.5	5.5	NUM
fsr-3804	104	300	5.3	5.3	NUM
fsr-3804	104	301	3.03	3.03	NUM
fsr-3804	104	302	16.19	16.19	NUM
fsr-3804	104	303	1989	1989	NUM
fsr-3804	104	304	31.49	31.49	NUM
fsr-3804	104	305	4.65	4.65	NUM
fsr-3804	104	306	25.65	25.65	NUM
fsr-3804	104	307	0.97	0.97	NUM
fsr-3804	104	308	5.1	5.1	NUM
fsr-3804	104	309	4.9	4.9	NUM
fsr-3804	104	310	3.17	3.17	NUM
fsr-3804	104	311	15.56	15.56	NUM
fsr-3804	104	312	1990	1990	NUM
fsr-3804	104	313	-3.17	-3.17	NUM
fsr-3804	104	314	6.11	6.11	NUM
fsr-3804	104	315	-8.75	-8.75	NUM
fsr-3804	104	316	0.97	0.97	NUM
fsr-3804	104	317	4.4	4.4	NUM
fsr-3804	104	318	4.2	4.2	NUM
fsr-3804	104	319	3.26	3.26	NUM
fsr-3804	104	320	13.74	13.74	NUM
fsr-3804	104	321	1991	1991	NUM
fsr-3804	104	322	30.55	30.55	NUM
fsr-3804	104	323	3.06	3.06	NUM
fsr-3804	104	324	26.67	26.67	NUM
fsr-3804	104	325	0.94	0.94	NUM
fsr-3804	104	326	3.1	3.1	NUM
fsr-3804	104	327	2.9	2.9	NUM
fsr-3804	104	328	3.24	3.24	NUM
fsr-3804	104	329	9.39	9.39	NUM
fsr-3804	104	330	1992	1992	NUM
fsr-3804	104	331	7.67	7.67	NUM
fsr-3804	104	332	2.90	2.90	NUM
fsr-3804	104	333	4.64	4.64	NUM
fsr-3804	104	334	0.95	0.95	NUM
fsr-3804	104	335	3.4	3.4	NUM
fsr-3804	104	336	3.2	3.2	NUM
fsr-3804	104	337	3.55	3.55	NUM
fsr-3804	104	338	11.45	11.45	NUM
fsr-3804	104	339	1993	1993	NUM
fsr-3804	104	340	9.99	9.99	NUM
fsr-3804	104	341	2.75	2.75	NUM
fsr-3804	104	342	7.05	7.05	NUM
fsr-3804	104	343	0.92	0.92	NUM
fsr-3804	104	344	3.8	3.8	NUM
fsr-3804	104	345	3.5	3.5	NUM
fsr-3804	104	346	3.76	3.76	NUM
fsr-3804	104	347	13.25	13.25	NUM
fsr-3804	104	348	1994	1994	NUM
fsr-3804	104	349	1.31	1.31	NUM
fsr-3804	104	350	2.68	2.68	NUM
fsr-3804	104	351	1.33	1.33	NUM
fsr-3804	104	352	0.95	0.95	NUM
fsr-3804	104	353	5.3	5.3	NUM
fsr-3804	104	354	5.0	5.0	NUM
fsr-3804	104	355	3.40	3.40	NUM
fsr-3804	104	356	17.18	17.18	NUM
fsr-3804	104	357	1995	1995	NUM
fsr-3804	104	358	37.43	37.43	NUM
fsr-3804	104	359	2.54	2.54	NUM
fsr-3804	104	360	34.03	34.03	NUM
fsr-3804	104	361	0.96	0.96	NUM
fsr-3804	104	362	5.3	5.3	NUM
fsr-3804	104	363	5.1	5.1	NUM
fsr-3804	104	364	3.32	3.32	NUM
fsr-3804	104	365	16.95	16.95	NUM
fsr-3804	104	366	notes	note	NOUN
fsr-3804	104	367	:	:	PUNCT
fsr-3804	104	368	=	=	PUNCT
fsr-3804	104	369	the	the	DET
fsr-3804	104	370	ratios	ratio	NOUN
fsr-3804	104	371	for	for	ADP
fsr-3804	104	372	the	the	DET
fsr-3804	104	373	period	period	NOUN
fsr-3804	104	374	1956	1956	NUM
fsr-3804	104	375	-	-	SYM
fsr-3804	104	376	1976	1976	NUM
fsr-3804	104	377	are	be	AUX
fsr-3804	104	378	for	for	ADP
fsr-3804	104	379	the	the	DET
fsr-3804	104	380	fortune	fortune	NOUN
fsr-3804	104	381	500	500	NUM
fsr-3804	104	382	industrials	industrial	NOUN
fsr-3804	104	383	:	:	PUNCT
fsr-3804	104	384	for	for	ADP
fsr-3804	104	385	the	the	DET
fsr-3804	104	386	period	period	NOUN
fsr-3804	104	387	197	197	NUM
fsr-3804	104	388	%	%	NOUN
fsr-3804	104	389	1995	1995	NUM
fsr-3804	104	390	for	for	ADP
fsr-3804	104	391	the	the	DET
fsr-3804	104	392	s&p	s&p	PROPN
fsr-3804	104	393	400	400	NUM
fsr-3804	104	394	.	.	PUNCT
fsr-3804	105	1	the	the	DET
fsr-3804	105	2	impact	impact	NOUN
fsr-3804	105	3	of	of	ADP
fsr-3804	105	4	inflation	inflation	NOUN
fsr-3804	105	5	7.0	7.0	NUM
fsr-3804	105	6	7	7	NUM
fsr-3804	105	7	7.0	7.0	NUM
fsr-3804	105	8	6.5	6.5	NUM
fsr-3804	105	9	6.0	6.0	NUM
fsr-3804	105	10	5.s	5.s	NUM
fsr-3804	105	11	5.0	5.0	NUM
fsr-3804	105	12	q.	q.	NOUN
fsr-3804	105	13	4.s	4.s	PROPN
fsr-3804	105	14	&	&	CCONJ
fsr-3804	105	15	o	o	PROPN
fsr-3804	105	16	&	&	CCONJ
fsr-3804	105	17	s	s	PROPN
fsr-3804	105	18	3.0	3.0	NUM
fsr-3804	105	19	l	l	NOUN
fsr-3804	105	20	/	/	SYM
fsr-3804	105	21	2.~	2.~	NOUN
fsr-3804	106	1	i	i	PRON
fsr-3804	106	2	,	,	PUNCT
fsr-3804	106	3	i	i	PRON
fsr-3804	106	4	l	l	VERB
fsr-3804	107	1	i	i	PRON
fsr-3804	107	2	i	i	PRON
fsr-3804	107	3	t	t	VERB
fsr-3804	107	4	,	,	PUNCT
fsr-3804	107	5	i	i	PRON
fsr-3804	108	1	i	i	PRON
fsr-3804	108	2	i	i	PRON
fsr-3804	109	1	i	i	PRON
fsr-3804	109	2	,	,	PUNCT
fsr-3804	109	3	i	i	PRON
fsr-3804	110	1	i	i	PRON
fsr-3804	111	1	i	i	PRON
fsr-3804	111	2	t	t	PROPN
fsr-3804	111	3	t	t	PROPN
fsr-3804	111	4	,	,	PUNCT
fsr-3804	111	5	,	,	PUNCT
fsr-3804	111	6	,	,	PUNCT
fsr-3804	111	7	,	,	PUNCT
fsr-3804	111	8	i	i	PRON
fsr-3804	111	9	,	,	PUNCT
fsr-3804	111	10	,	,	PUNCT
fsr-3804	111	11	,	,	PUNCT
fsr-3804	111	12	,	,	PUNCT
fsr-3804	111	13	,	,	PUNCT
fsr-3804	111	14	,	,	PUNCT
fsr-3804	111	15	i	i	PRON
fsr-3804	111	16	i	i	PRON
fsr-3804	111	17	i	i	VERB
fsr-3804	111	18	i	i	PRON
fsr-3804	111	19	,	,	PUNCT
fsr-3804	111	20	,	,	PUNCT
fsr-3804	111	21	,	,	PUNCT
fsr-3804	111	22	,	,	PUNCT
fsr-3804	111	23	.	.	PUNCT
fsr-3804	112	1	i	i	PRON
fsr-3804	112	2	cb	cb	VERB
fsr-3804	112	3	at	at	ADP
fsr-3804	112	4	~	~	PUNCT
fsr-3804	112	5	~id	~id	PUNCT
fsr-3804	112	6	~	~	PUNCT
fsr-3804	112	7	(	(	PUNCT
fsr-3804	112	8	it	it	PRON
fsr-3804	112	9	(	(	PUNCT
fsr-3804	112	10	d	d	X
fsr-3804	112	11	(	(	PUNCT
fsr-3804	112	12	it	it	PRON
fsr-3804	112	13	=	=	PUNCT
fsr-3804	112	14	all	all	PRON
fsr-3804	112	15	(	(	PUNCT
fsr-3804	112	16	11	11	NUM
fsr-3804	112	17	d	d	SYM
fsr-3804	112	18	y	y	PROPN
fsr-3804	112	19	e	e	PROPN
fsr-3804	112	20	a	a	DET
fsr-3804	112	21	r	r	NOUN
fsr-3804	112	22	s	s	NOUN
fsr-3804	112	23	figure	figure	NOUN
fsr-3804	112	24	4	4	NUM
fsr-3804	112	25	.	.	NOUN
fsr-3804	112	26	time	time	PROPN
fsr-3804	112	27	series	series	PROPN
fsr-3804	112	28	plot	plot	NOUN
fsr-3804	112	29	of	of	ADP
fsr-3804	112	30	profit	profit	NOUN
fsr-3804	112	31	margin	margin	NOUN
fsr-3804	112	32	(	(	PUNCT
fsr-3804	112	33	pm	pm	NOUN
fsr-3804	112	34	)	)	PUNCT
fsr-3804	112	35	for	for	ADP
fsr-3804	112	36	fortune	fortune	NOUN
fsr-3804	112	37	500	500	NUM
fsr-3804	112	38	s&p	s&p	PROPN
fsr-3804	112	39	400	400	NUM
fsr-3804	112	40	:	:	PUNCT
fsr-3804	112	41	1956	1956	NUM
fsr-3804	112	42	-	-	SYM
fsr-3804	112	43	1995	1995	NUM
fsr-3804	112	44	.	.	PUNCT
fsr-3804	113	1	6.5	6.5	NUM
fsr-3804	113	2	6.0	6.0	NUM
fsr-3804	113	3	5.s	5.s	NUM
fsr-3804	113	4	v	v	NUM
fsr-3804	113	5	5.0	5.0	NUM
fsr-3804	113	6	4.5	4.5	NUM
fsr-3804	113	7	4.o	4.o	NUM
fsr-3804	113	8	3.5	3.5	NUM
fsr-3804	113	9	3.0	3.0	NUM
fsr-3804	113	10	2.5	2.5	NUM
fsr-3804	113	11	i	i	PRON
fsr-3804	113	12	n	n	PROPN
fsr-3804	113	13	(	(	PUNCT
fsr-3804	113	14	ira	ira	PROPN
fsr-3804	113	15	figure	figure	NOUN
fsr-3804	113	16	3	3	NUM
fsr-3804	113	17	,	,	PUNCT
fsr-3804	113	18	the	the	DET
fsr-3804	113	19	tat	tat	NOUN
fsr-3804	113	20	ratio	ratio	NOUN
fsr-3804	113	21	started	start	VERB
fsr-3804	113	22	at	at	ADP
fsr-3804	113	23	about	about	ADV
fsr-3804	113	24	1.25	1.25	NUM
fsr-3804	113	25	,	,	PUNCT
fsr-3804	113	26	peaked	peak	VERB
fsr-3804	113	27	during	during	ADP
fsr-3804	113	28	the	the	DET
fsr-3804	113	29	period	period	NOUN
fsr-3804	113	30	1974	1974	NUM
fsr-3804	113	31	-	-	SYM
fsr-3804	113	32	1980	1980	NUM
fsr-3804	113	33	(	(	PUNCT
fsr-3804	113	34	when	when	SCONJ
fsr-3804	113	35	the	the	DET
fsr-3804	113	36	f&p	f&p	PROPN
fsr-3804	113	37	article	article	NOUN
fsr-3804	113	38	was	be	AUX
fsr-3804	113	39	published	publish	VERB
fsr-3804	113	40	)	)	PUNCT
fsr-3804	113	41	and	and	CCONJ
fsr-3804	113	42	subsequently	subsequently	ADV
fsr-3804	113	43	declined	decline	VERB
fsr-3804	113	44	to	to	ADP
fsr-3804	113	45	0.96	0.96	NUM
fsr-3804	113	46	in	in	ADP
fsr-3804	113	47	1995	1995	NUM
fsr-3804	113	48	.	.	PUNCT
fsr-3804	114	1	notably	notably	ADV
fsr-3804	114	2	,	,	PUNCT
fsr-3804	114	3	this	this	DET
fsr-3804	114	4	decline	decline	NOUN
fsr-3804	114	5	was	be	AUX
fsr-3804	114	6	not	not	PART
fsr-3804	114	7	envisioned	envision	VERB
fsr-3804	114	8	by	by	ADP
fsr-3804	114	9	f&p	f&p	PROPN
fsr-3804	114	10	.	.	PUNCT
fsr-3804	115	1	specifically	specifically	ADV
fsr-3804	115	2	they	they	PRON
fsr-3804	115	3	note	note	VERB
fsr-3804	115	4	that	that	SCONJ
fsr-3804	115	5	one	one	PRON
fsr-3804	115	6	should	should	AUX
fsr-3804	115	7	expect	expect	VERB
fsr-3804	115	8	apositive	apositive	ADJ
fsr-3804	115	9	bias	bias	NOUN
fsr-3804	115	10	for	for	ADP
fsr-3804	115	11	the	the	DET
fsr-3804	115	12	tat	tat	NOUN
fsr-3804	115	13	ratio	ratio	NOUN
fsr-3804	115	14	during	during	ADP
fsr-3804	115	15	periods	period	NOUN
fsr-3804	115	16	of	of	ADP
fsr-3804	115	17	inflation	inflation	NOUN
fsr-3804	115	18	because	because	SCONJ
fsr-3804	115	19	sales	sale	NOUN
fsr-3804	115	20	should	should	AUX
fsr-3804	115	21	be	be	AUX
fsr-3804	115	22	affected	affect	VERB
fsr-3804	115	23	by	by	ADP
fsr-3804	115	24	infla	infla	PROPN
fsr-3804	115	25	4.0	4.0	NUM
fsr-3804	115	26	t	t	NOUN
fsr-3804	115	27	"	"	PUNCT
fsr-3804	115	28	,	,	PUNCT
fsr-3804	115	29	-	-	PUNCT
fsr-3804	115	30	.	.	PUNCT
fsr-3804	115	31	4.0	4.0	NUM
fsr-3804	115	32	&	&	CCONJ
fsr-3804	115	33	o+	o+	NOUN
fsr-3804	115	34	4~3.o	4~3.o	NUM
fsr-3804	115	35	:>	:>	PUNCT
fsr-3804	115	36	lli	lli	PROPN
fsr-3804	115	37	2,5	2,5	NUM
fsr-3804	115	38	,	,	PUNCT
fsr-3804	115	39	.j	.j	VERB
fsr-3804	115	40	2.5	2.5	NUM
fsr-3804	115	41	2.o	2.o	NUM
fsr-3804	116	1	+	+	CCONJ
fsr-3804	116	2	~	~	PUNCT
fsr-3804	116	3	;	;	PUNCT
fsr-3804	116	4	2.o	2.o	NUM
fsr-3804	116	5	l	l	NOUN
fsr-3804	116	6	.	.	PUNCT
fsr-3804	117	1	s+	s+	ADV
fsr-3804	117	2	~	~	PUNCT
fsr-3804	117	3	~	~	PUNCT
fsr-3804	117	4	l	l	NOUN
fsr-3804	117	5	.s	.s	NOUN
fsr-3804	117	6	1.0	1.0	NUM
fsr-3804	117	7	1.0	1.0	NUM
fsr-3804	117	8	(	(	PUNCT
fsr-3804	117	9	1~	1~	NUM
fsr-3804	117	10	(	(	PUNCT
fsr-3804	117	11	1~	1~	NUM
fsr-3804	117	12	.	.	PUNCT
fsr-3804	118	1	~	~	PUNCT
fsr-3804	118	2	gi~	gi~	PROPN
fsr-3804	118	3	(	(	PUNCT
fsr-3804	118	4	l	l	X
fsr-3804	118	5	l	l	X
fsr-3804	118	6	m	m	PUNCT
fsr-3804	118	7	~	~	PUNCT
fsr-3804	118	8	(	(	PUNCT
fsr-3804	118	9	d	d	PROPN
fsr-3804	118	10	cli	cli	NOUN
fsr-3804	118	11	(	(	PUNCT
fsr-3804	118	12	d	d	NOUN
fsr-3804	118	13	(	(	PUNCT
fsr-3804	118	14	n	n	X
fsr-3804	118	15	(	(	PUNCT
fsr-3804	118	16	it	it	PRON
fsr-3804	118	17	y	y	NOUN
fsr-3804	118	18	e	e	NOUN
fsr-3804	118	19	a	a	DET
fsr-3804	118	20	r	r	NOUN
fsr-3804	118	21	s	s	NOUN
fsr-3804	118	22	figure	figure	NOUN
fsr-3804	118	23	5	5	NUM
fsr-3804	118	24	.	.	NOUN
fsr-3804	118	25	time	time	PROPN
fsr-3804	118	26	series	series	PROPN
fsr-3804	118	27	plot	plot	NOUN
fsr-3804	118	28	of	of	ADP
fsr-3804	118	29	leverage	leverage	NOUN
fsr-3804	118	30	(	(	PUNCT
fsr-3804	118	31	lev	lev	NOUN
fsr-3804	118	32	)	)	PUNCT
fsr-3804	118	33	for	for	ADP
fsr-3804	118	34	fortune	fortune	NOUN
fsr-3804	118	35	500	500	NUM
fsr-3804	118	36	s&p	s&p	PROPN
fsr-3804	118	37	4130	4130	NUM
fsr-3804	118	38	:	:	PUNCT
fsr-3804	118	39	1956	1956	NUM
fsr-3804	118	40	-	-	SYM
fsr-3804	118	41	1995	1995	NUM
fsr-3804	118	42	.	.	PUNCT
fsr-3804	118	43	8	8	NUM
fsr-3804	118	44	financial	financial	ADJ
fsr-3804	118	45	services	service	NOUN
fsr-3804	118	46	review	review	VERB
fsr-3804	118	47	6(1	6(1	NUM
fsr-3804	118	48	)	)	PUNCT
fsr-3804	118	49	1997	1997	NUM
fsr-3804	118	50	tion	tion	NOUN
fsr-3804	118	51	(	(	PUNCT
fsr-3804	118	52	i.e.	i.e.	X
fsr-3804	118	53	,	,	PUNCT
fsr-3804	118	54	sales	sale	NOUN
fsr-3804	118	55	are	be	AUX
fsr-3804	118	56	in	in	ADP
fsr-3804	118	57	current	current	ADJ
fsr-3804	118	58	dollars	dollar	NOUN
fsr-3804	118	59	)	)	PUNCT
fsr-3804	118	60	,	,	PUNCT
fsr-3804	118	61	while	while	SCONJ
fsr-3804	118	62	most	most	ADJ
fsr-3804	118	63	asset	asset	NOUN
fsr-3804	118	64	values	value	NOUN
fsr-3804	118	65	are	be	AUX
fsr-3804	118	66	based	base	VERB
fsr-3804	118	67	on	on	ADP
fsr-3804	118	68	historical	historical	ADJ
fsr-3804	118	69	costs	cost	NOUN
fsr-3804	118	70	which	which	PRON
fsr-3804	118	71	are	be	AUX
fsr-3804	118	72	not	not	PART
fsr-3804	118	73	adjusted	adjust	VERB
fsr-3804	118	74	for	for	ADP
fsr-3804	118	75	higher	high	ADJ
fsr-3804	118	76	prices	price	NOUN
fsr-3804	118	77	.	.	PUNCT
fsr-3804	119	1	as	as	SCONJ
fsr-3804	119	2	shown	show	VERB
fsr-3804	119	3	in	in	ADP
fsr-3804	119	4	figure	figure	NOUN
fsr-3804	119	5	4	4	NUM
fsr-3804	119	6	,	,	PUNCT
fsr-3804	119	7	the	the	DET
fsr-3804	119	8	pm	pm	NOUN
fsr-3804	119	9	also	also	ADV
fsr-3804	119	10	declined	decline	VERB
fsr-3804	119	11	from	from	ADP
fsr-3804	119	12	6.6	6.6	NUM
fsr-3804	119	13	percent	percent	NOUN
fsr-3804	119	14	in	in	ADP
fsr-3804	119	15	1956	1956	NUM
fsr-3804	119	16	to	to	ADP
fsr-3804	119	17	a	a	DET
fsr-3804	119	18	low	low	NOUN
fsr-3804	119	19	of	of	ADP
fsr-3804	119	20	3.1	3.1	NUM
fsr-3804	119	21	percent	percent	NOUN
fsr-3804	119	22	in	in	ADP
fsr-3804	119	23	1991	1991	NUM
fsr-3804	119	24	followed	follow	VERB
fsr-3804	119	25	by	by	ADP
fsr-3804	119	26	a	a	DET
fsr-3804	119	27	recovery	recovery	NOUN
fsr-3804	119	28	to	to	ADP
fsr-3804	119	29	5.3	5.3	NUM
fsr-3804	119	30	percent	percent	NOUN
fsr-3804	119	31	in	in	ADP
fsr-3804	119	32	1994	1994	NUM
fsr-3804	119	33	-	-	SYM
fsr-3804	119	34	1995	1995	NUM
fsr-3804	119	35	.	.	PUNCT
fsr-3804	120	1	again	again	ADV
fsr-3804	120	2	,	,	PUNCT
fsr-3804	120	3	this	this	DET
fsr-3804	120	4	ratio	ratio	NOUN
fsr-3804	120	5	should	should	AUX
fsr-3804	120	6	be	be	AUX
fsr-3804	120	7	constant	constant	ADJ
fsr-3804	120	8	or	or	CCONJ
fsr-3804	120	9	possibly	possibly	ADV
fsr-3804	120	10	increase	increase	VERB
fsr-3804	120	11	during	during	ADP
fsr-3804	120	12	inflation	inflation	NOUN
fsr-3804	120	13	because	because	SCONJ
fsr-3804	120	14	sales	sale	NOUN
fsr-3804	120	15	(	(	PUNCT
fsr-3804	120	16	revenue	revenue	NOUN
fsr-3804	120	17	)	)	PUNCT
fsr-3804	120	18	are	be	AUX
fsr-3804	120	19	in	in	ADP
fsr-3804	120	20	cur	cur	NOUN
fsr-3804	120	21	rent	rent	NOUN
fsr-3804	120	22	dollars	dollar	NOUN
fsr-3804	120	23	,	,	PUNCT
fsr-3804	120	24	while	while	SCONJ
fsr-3804	120	25	many	many	ADJ
fsr-3804	120	26	costs	cost	NOUN
fsr-3804	120	27	such	such	ADJ
fsr-3804	120	28	as	as	ADP
fsr-3804	120	29	depreciation	depreciation	NOUN
fsr-3804	120	30	do	do	AUX
fsr-3804	120	31	not	not	PART
fsr-3804	120	32	fully	fully	ADV
fsr-3804	120	33	reflect	reflect	VERB
fsr-3804	120	34	the	the	DET
fsr-3804	120	35	inflation	inflation	NOUN
fsr-3804	120	36	.	.	PUNCT
fsr-3804	121	1	as	as	ADP
fsr-3804	121	2	of	of	ADP
fsr-3804	121	3	1980	1980	NUM
fsr-3804	121	4	,	,	PUNCT
fsr-3804	121	5	f&p	f&p	PROPN
fsr-3804	121	6	felt	feel	VERB
fsr-3804	121	7	that	that	SCONJ
fsr-3804	121	8	management	management	NOUN
fsr-3804	121	9	recognized	recognize	VERB
fsr-3804	121	10	the	the	DET
fsr-3804	121	11	problem	problem	NOUN
fsr-3804	121	12	regarding	regard	VERB
fsr-3804	121	13	declining	decline	VERB
fsr-3804	121	14	profit	profit	NOUN
fsr-3804	121	15	mar	mar	PROPN
fsr-3804	121	16	gins	gin	NOUN
fsr-3804	121	17	and	and	CCONJ
fsr-3804	121	18	was	be	AUX
fsr-3804	121	19	responding	respond	VERB
fsr-3804	121	20	to	to	ADP
fsr-3804	121	21	it	it	PRON
fsr-3804	121	22	.	.	PUNCT
fsr-3804	122	1	unfortunately	unfortunately	ADV
fsr-3804	122	2	,	,	PUNCT
fsr-3804	122	3	the	the	DET
fsr-3804	122	4	results	result	NOUN
fsr-3804	122	5	in	in	ADP
fsr-3804	122	6	figure	figure	NOUN
fsr-3804	122	7	4	4	NUM
fsr-3804	122	8	,	,	PUNCT
fsr-3804	122	9	for	for	ADP
fsr-3804	122	10	the	the	DET
fsr-3804	122	11	subsequent	subsequent	ADJ
fsr-3804	122	12	period	period	NOUN
fsr-3804	122	13	1979	1979	NUM
fsr-3804	122	14	-	-	SYM
fsr-3804	122	15	1993	1993	NUM
fsr-3804	122	16	do	do	AUX
fsr-3804	122	17	not	not	PART
fsr-3804	122	18	support	support	VERB
fsr-3804	122	19	this	this	DET
fsr-3804	122	20	expectation	expectation	NOUN
fsr-3804	122	21	.	.	PUNCT
fsr-3804	123	1	specifically	specifically	ADV
fsr-3804	123	2	,	,	PUNCT
fsr-3804	123	3	the	the	DET
fsr-3804	123	4	pm	pm	NOUN
fsr-3804	123	5	declined	decline	VERB
fsr-3804	123	6	sharply	sharply	ADV
fsr-3804	123	7	as	as	SCONJ
fsr-3804	123	8	expected	expect	VERB
fsr-3804	123	9	during	during	ADP
fsr-3804	123	10	the	the	DET
fsr-3804	123	11	1981	1981	NUM
fsr-3804	123	12	-	-	SYM
fsr-3804	123	13	1982	1982	NUM
fsr-3804	123	14	recession	recession	NOUN
fsr-3804	123	15	,	,	PUNCT
fsr-3804	123	16	recovered	recover	VERB
fsr-3804	123	17	to	to	ADP
fsr-3804	123	18	over	over	ADP
fsr-3804	123	19	5.5	5.5	NUM
fsr-3804	123	20	percent	percent	NOUN
fsr-3804	123	21	in	in	ADP
fsr-3804	123	22	1988	1988	NUM
fsr-3804	123	23	,	,	PUNCT
fsr-3804	123	24	but	but	CCONJ
fsr-3804	123	25	declined	decline	VERB
fsr-3804	123	26	to	to	ADP
fsr-3804	123	27	3	3	NUM
fsr-3804	123	28	percent	percent	NOUN
fsr-3804	123	29	in	in	ADP
fsr-3804	123	30	1991	1991	NUM
fsr-3804	123	31	and	and	CCONJ
fsr-3804	123	32	finished	finish	VERB
fsr-3804	123	33	at	at	ADP
fsr-3804	123	34	5.3	5.3	NUM
fsr-3804	123	35	percent	percent	NOUN
fsr-3804	123	36	in	in	ADP
fsr-3804	123	37	1995	1995	NUM
fsr-3804	123	38	.	.	PUNCT
fsr-3804	124	1	clearly	clearly	ADV
fsr-3804	124	2	,	,	PUNCT
fsr-3804	124	3	the	the	DET
fsr-3804	124	4	overall	overall	ADJ
fsr-3804	124	5	sec	sec	PROPN
fsr-3804	124	6	ular	ular	ADJ
fsr-3804	124	7	decline	decline	NOUN
fsr-3804	124	8	shown	show	VERB
fsr-3804	124	9	in	in	ADP
fsr-3804	124	10	figure	figure	NOUN
fsr-3804	124	11	4	4	NUM
fsr-3804	124	12	extended	extend	VERB
fsr-3804	124	13	through	through	ADP
fsr-3804	124	14	1993	1993	NUM
fsr-3804	124	15	.	.	PUNCT
fsr-3804	125	1	we	we	PRON
fsr-3804	125	2	know	know	VERB
fsr-3804	125	3	from	from	ADP
fsr-3804	125	4	the	the	DET
fsr-3804	125	5	prior	prior	ADJ
fsr-3804	125	6	equations	equation	NOUN
fsr-3804	125	7	that	that	PRON
fsr-3804	125	8	roa	roa	PROPN
fsr-3804	125	9	times	time	VERB
fsr-3804	125	10	the	the	DET
fsr-3804	125	11	leverage	leverage	NOUN
fsr-3804	125	12	ratio	ratio	NOUN
fsr-3804	125	13	(	(	PUNCT
fsr-3804	125	14	t.	t.	NOUN
fsr-3804	125	15	assets/	assets/	PROPN
fsr-3804	125	16	equity	equity	NOUN
fsr-3804	125	17	)	)	PUNCT
fsr-3804	125	18	equals	equal	VERB
fsr-3804	125	19	roe	roe	NOUN
fsr-3804	125	20	.	.	PUNCT
fsr-3804	126	1	given	give	VERB
fsr-3804	126	2	the	the	DET
fsr-3804	126	3	overall	overall	ADJ
fsr-3804	126	4	declines	decline	NOUN
fsr-3804	126	5	in	in	ADP
fsr-3804	126	6	tat	tat	NOUN
fsr-3804	126	7	,	,	PUNCT
fsr-3804	126	8	pm	pm	NOUN
fsr-3804	126	9	and	and	CCONJ
fsr-3804	126	10	roa	roa	NOUN
fsr-3804	126	11	,	,	PUNCT
fsr-3804	126	12	and	and	CCONJ
fsr-3804	126	13	an	an	DET
fsr-3804	126	14	roe	roe	NOUN
fsr-3804	126	15	that	that	PRON
fsr-3804	126	16	did	do	AUX
fsr-3804	126	17	not	not	PART
fsr-3804	126	18	experience	experience	VERB
fsr-3804	126	19	a	a	DET
fsr-3804	126	20	secular	secular	ADJ
fsr-3804	126	21	decline	decline	NOUN
fsr-3804	126	22	,	,	PUNCT
fsr-3804	126	23	it	it	PRON
fsr-3804	126	24	is	be	AUX
fsr-3804	126	25	obvious	obvious	ADJ
fsr-3804	126	26	that	that	SCONJ
fsr-3804	126	27	there	there	PRON
fsr-3804	126	28	must	must	AUX
fsr-3804	126	29	have	have	AUX
fsr-3804	126	30	been	be	AUX
fsr-3804	126	31	a	a	DET
fsr-3804	126	32	signi	signi	ADJ
fsr-3804	126	33	f	f	PROPN
fsr-3804	126	34	icant	icant	ADJ
fsr-3804	126	35	increase	increase	NOUN
fsr-3804	126	36	in	in	ADP
fsr-3804	126	37	the	the	DET
fsr-3804	126	38	financial	financial	ADJ
fsr-3804	126	39	leverage	leverage	NOUN
fsr-3804	126	40	multiplier	multipli	ADJ
fsr-3804	126	41	(	(	PUNCT
fsr-3804	126	42	lev	lev	NOUN
fsr-3804	126	43	)	)	PUNCT
fsr-3804	126	44	that	that	PRON
fsr-3804	126	45	offset	offset	VERB
fsr-3804	126	46	the	the	DET
fsr-3804	126	47	decline	decline	NOUN
fsr-3804	126	48	in	in	ADP
fsr-3804	126	49	roa	roa	PROPN
fsr-3804	126	50	.	.	PUNCT
fsr-3804	127	1	the	the	DET
fsr-3804	127	2	graph	graph	NOUN
fsr-3804	127	3	of	of	ADP
fsr-3804	127	4	the	the	DET
fsr-3804	127	5	financial	financial	ADJ
fsr-3804	127	6	leverage	leverage	NOUN
fsr-3804	127	7	ratio	ratio	NOUN
fsr-3804	127	8	in	in	ADP
fsr-3804	127	9	figure	figure	NOUN
fsr-3804	127	10	5	5	NUM
fsr-3804	127	11	clearly	clearly	ADV
fsr-3804	127	12	confirms	confirm	VERB
fsr-3804	127	13	that	that	SCONJ
fsr-3804	127	14	financial	financial	ADJ
fsr-3804	127	15	leverage	leverage	NOUN
fsr-3804	127	16	more	more	ADV
fsr-3804	127	17	than	than	ADP
fsr-3804	127	18	doubled	double	VERB
fsr-3804	127	19	from	from	ADP
fsr-3804	127	20	1.59	1.59	NUM
fsr-3804	127	21	in	in	ADP
fsr-3804	127	22	1956	1956	NUM
fsr-3804	127	23	to	to	ADP
fsr-3804	127	24	a	a	DET
fsr-3804	127	25	peak	peak	NOUN
fsr-3804	127	26	of	of	ADP
fsr-3804	127	27	3.76	3.76	NUM
fsr-3804	127	28	in	in	ADP
fsr-3804	127	29	1993	1993	NUM
fsr-3804	127	30	prior	prior	ADV
fsr-3804	127	31	to	to	ADP
fsr-3804	127	32	finishing	finish	VERB
fsr-3804	127	33	at	at	ADP
fsr-3804	127	34	3.32	3.32	NUM
fsr-3804	127	35	in	in	ADP
fsr-3804	127	36	1995	1995	NUM
fsr-3804	127	37	.	.	PUNCT
fsr-3804	128	1	clearly	clearly	ADV
fsr-3804	128	2	,	,	PUNCT
fsr-3804	128	3	the	the	DET
fsr-3804	128	4	overall	overall	ADJ
fsr-3804	128	5	increase	increase	NOUN
fsr-3804	128	6	in	in	ADP
fsr-3804	128	7	this	this	DET
fsr-3804	128	8	leverage	leverage	NOUN
fsr-3804	128	9	ratio	ratio	NOUN
fsr-3804	128	10	offset	offset	VERB
fsr-3804	128	11	the	the	DET
fsr-3804	128	12	decline	decline	NOUN
fsr-3804	128	13	in	in	ADP
fsr-3804	128	14	roa	roa	PROPN
fsr-3804	128	15	.	.	PUNCT
fsr-3804	129	1	in	in	ADP
fsr-3804	129	2	summary	summary	NOUN
fsr-3804	129	3	,	,	PUNCT
fsr-3804	129	4	these	these	DET
fsr-3804	129	5	results	result	NOUN
fsr-3804	129	6	show	show	VERB
fsr-3804	129	7	that	that	SCONJ
fsr-3804	129	8	the	the	DET
fsr-3804	129	9	u.s	u.s	PROPN
fsr-3804	129	10	.	.	PROPN
fsr-3804	129	11	economy	economy	NOUN
fsr-3804	129	12	maintained	maintain	VERB
fsr-3804	129	13	and	and	CCONJ
fsr-3804	129	14	even	even	ADV
fsr-3804	129	15	increased	increase	VERB
fsr-3804	129	16	its	its	PRON
fsr-3804	129	17	roe	roe	NOUN
fsr-3804	129	18	over	over	ADP
fsr-3804	129	19	the	the	DET
fsr-3804	129	20	period	period	NOUN
fsr-3804	129	21	1956	1956	NUM
fsr-3804	129	22	-	-	SYM
fsr-3804	129	23	1995	1995	NUM
fsr-3804	129	24	,	,	PUNCT
fsr-3804	129	25	but	but	CCONJ
fsr-3804	129	26	the	the	DET
fsr-3804	129	27	values	value	NOUN
fsr-3804	129	28	for	for	ADP
fsr-3804	129	29	the	the	DET
fsr-3804	129	30	three	three	NUM
fsr-3804	129	31	dupont	dupont	NOUN
fsr-3804	129	32	components	component	NOUN
fsr-3804	129	33	have	have	AUX
fsr-3804	129	34	changed	change	VERB
fsr-3804	129	35	.	.	PUNCT
fsr-3804	130	1	specifically	specifically	ADV
fsr-3804	130	2	,	,	PUNCT
fsr-3804	130	3	we	we	PRON
fsr-3804	130	4	have	have	VERB
fsr-3804	130	5	l	l	NOUN
fsr-3804	130	6	ower	ower	ADJ
fsr-3804	130	7	operating	operating	NOUN
fsr-3804	130	8	efficiency	efficiency	NOUN
fsr-3804	130	9	as	as	SCONJ
fsr-3804	130	10	reflected	reflect	VERB
fsr-3804	130	11	by	by	ADP
fsr-3804	130	12	tat	tat	NOUN
fsr-3804	130	13	,	,	PUNCT
fsr-3804	130	14	and	and	CCONJ
fsr-3804	130	15	lower	low	ADJ
fsr-3804	130	16	profit	profit	NOUN
fsr-3804	130	17	margins	margin	NOUN
fsr-3804	130	18	,	,	PUNCT
fsr-3804	130	19	but	but	CCONJ
fsr-3804	130	20	these	these	DET
fsr-3804	130	21	declines	decline	NOUN
fsr-3804	130	22	have	have	AUX
fsr-3804	130	23	been	be	AUX
fsr-3804	130	24	offset	offset	VERB
fsr-3804	130	25	by	by	ADP
fsr-3804	130	26	substantially	substantially	ADV
fsr-3804	130	27	h	h	PROPN
fsr-3804	130	28	igher	igher	PROPN
fsr-3804	130	29	financial	financial	PROPN
fsr-3804	130	30	lever	lever	PROPN
fsr-3804	130	31	age	age	NOUN
fsr-3804	130	32	which	which	PRON
fsr-3804	130	33	implies	imply	VERB
fsr-3804	130	34	higher	high	ADJ
fsr-3804	130	35	financial	financial	ADJ
fsr-3804	130	36	risk	risk	NOUN
fsr-3804	130	37	.	.	PUNCT
fsr-3804	131	1	iv	iv	X
fsr-3804	131	2	.	.	NOUN
fsr-3804	131	3	extended	extend	VERB
fsr-3804	131	4	dupont	dupont	NOUN
fsr-3804	131	5	analysis	analysis	NOUN
fsr-3804	131	6	of	of	ADP
fsr-3804	131	7	roe	roe	NOUN
fsr-3804	131	8	as	as	SCONJ
fsr-3804	131	9	noted	note	VERB
fsr-3804	131	10	,	,	PUNCT
fsr-3804	131	11	beyond	beyond	ADP
fsr-3804	131	12	the	the	DET
fsr-3804	131	13	three	three	NUM
fsr-3804	131	14	component	component	NOUN
fsr-3804	131	15	dupont	dupont	NOUN
fsr-3804	131	16	analysis	analysis	NOUN
fsr-3804	131	17	,	,	PUNCT
fsr-3804	131	18	some	some	DET
fsr-3804	131	19	authors	author	NOUN
fsr-3804	131	20	have	have	AUX
fsr-3804	131	21	suggested	suggest	VERB
fsr-3804	131	22	a	a	DET
fsr-3804	131	23	more	more	ADV
fsr-3804	131	24	extended	extended	ADJ
fsr-3804	131	25	breakdown	breakdown	NOUN
fsr-3804	131	26	that	that	PRON
fsr-3804	131	27	provides	provide	VERB
fsr-3804	131	28	insights	insight	NOUN
fsr-3804	131	29	into	into	ADP
fsr-3804	131	30	the	the	DET
fsr-3804	131	31	effect	effect	NOUN
fsr-3804	131	32	of	of	ADP
fsr-3804	131	33	interest	interest	NOUN
fsr-3804	131	34	expense	expense	NOUN
fsr-3804	131	35	and	and	CCONJ
fsr-3804	131	36	the	the	DET
fsr-3804	131	37	tax	tax	NOUN
fsr-3804	131	38	rate	rate	NOUN
fsr-3804	131	39	on	on	ADP
fsr-3804	131	40	the	the	DET
fsr-3804	131	41	roe	roe	NOUN
fsr-3804	131	42	.	.	PUNCT
fsr-3804	132	1	the	the	DET
fsr-3804	132	2	presentation	presentation	NOUN
fsr-3804	132	3	in	in	ADP
fsr-3804	132	4	table	table	NOUN
fsr-3804	132	5	2	2	NUM
fsr-3804	132	6	begins	begin	VERB
fsr-3804	132	7	with	with	ADP
fsr-3804	132	8	an	an	DET
fsr-3804	132	9	operating	operate	VERB
fsr-3804	132	10	profit	profit	NOUN
fsr-3804	132	11	margin	margin	NOUN
fsr-3804	132	12	(	(	PUNCT
fsr-3804	132	13	ebit	ebit	NOUN
fsr-3804	132	14	/	/	SYM
fsr-3804	132	15	sales	sale	NOUN
fsr-3804	132	16	)	)	PUNCT
fsr-3804	132	17	and	and	CCONJ
fsr-3804	132	18	multiplies	multiplie	NOUN
fsr-3804	132	19	by	by	ADP
fsr-3804	132	20	the	the	DET
fsr-3804	132	21	tat	tat	NOUN
fsr-3804	132	22	to	to	PART
fsr-3804	132	23	derive	derive	VERB
fsr-3804	132	24	ebit	ebit	NOUN
fsr-3804	132	25	/	/	SYM
fsr-3804	132	26	t.	t.	NOUN
fsr-3804	132	27	assets	asset	NOUN
fsr-3804	132	28	(	(	PUNCT
fsr-3804	132	29	operating	operate	VERB
fsr-3804	132	30	return	return	NOUN
fsr-3804	132	31	on	on	ADP
fsr-3804	132	32	total	total	ADJ
fsr-3804	132	33	assets	asset	NOUN
fsr-3804	132	34	)	)	PUNCT
fsr-3804	132	35	.	.	PUNCT
fsr-3804	133	1	to	to	PART
fsr-3804	133	2	consider	consider	VERB
fsr-3804	133	3	the	the	DET
fsr-3804	133	4	income	income	NOUN
fsr-3804	133	5	effect	effect	NOUN
fsr-3804	133	6	of	of	ADP
fsr-3804	133	7	financial	financial	ADJ
fsr-3804	133	8	leverage	leverage	NOUN
fsr-3804	133	9	,	,	PUNCT
fsr-3804	133	10	you	you	PRON
fsr-3804	133	11	subtract	subtract	VERB
fsr-3804	133	12	:	:	PUNCT
fsr-3804	134	1	int	int	NOUN
fsr-3804	134	2	.	.	PUNCT
fsr-3804	135	1	exp./	exp./	NOUN
fsr-3804	135	2	t.assets	t.asset	NOUN
fsr-3804	135	3	.	.	PUNCT
fsr-3804	136	1	this	this	DET
fsr-3804	136	2	interest	interest	NOUN
fsr-3804	136	3	expense	expense	NOUN
fsr-3804	136	4	ratio	ratio	NOUN
fsr-3804	136	5	reflects	reflect	VERB
fsr-3804	136	6	the	the	DET
fsr-3804	136	7	effect	effect	NOUN
fsr-3804	136	8	of	of	ADP
fsr-3804	136	9	fixed	fix	VERB
fsr-3804	136	10	income	income	NOUN
fsr-3804	136	11	debt	debt	NOUN
fsr-3804	136	12	on	on	ADP
fsr-3804	136	13	the	the	DET
fsr-3804	136	14	balance	balance	NOUN
fsr-3804	136	15	sheet	sheet	NOUN
fsr-3804	136	16	,	,	PUNCT
fsr-3804	136	17	but	but	CCONJ
fsr-3804	136	18	also	also	ADV
fsr-3804	136	19	the	the	DET
fsr-3804	136	20	level	level	NOUN
fsr-3804	136	21	of	of	ADP
fsr-3804	136	22	interest	interest	NOUN
fsr-3804	136	23	rates	rate	NOUN
fsr-3804	136	24	.	.	PUNCT
fsr-3804	137	1	the	the	DET
fsr-3804	137	2	result	result	NOUN
fsr-3804	137	3	is	be	AUX
fsr-3804	137	4	nbt	nbt	ADV
fsr-3804	137	5	/	/	SYM
fsr-3804	137	6	t.	t.	NOUN
fsr-3804	137	7	assets	asset	NOUN
fsr-3804	137	8	.	.	PUNCT
fsr-3804	138	1	the	the	DET
fsr-3804	138	2	next	next	ADJ
fsr-3804	138	3	column	column	NOUN
fsr-3804	138	4	reflects	reflect	VERB
fsr-3804	138	5	the	the	DET
fsr-3804	138	6	balance	balance	NOUN
fsr-3804	138	7	sheet	sheet	NOUN
fsr-3804	138	8	leverage	leverage	NOUN
fsr-3804	138	9	or	or	CCONJ
fsr-3804	138	10	the	the	DET
fsr-3804	138	11	financial	financial	ADJ
fsr-3804	138	12	leverage	leverage	NOUN
fsr-3804	138	13	multiplier	multiplier	ADV
fsr-3804	138	14	(	(	PUNCT
fsr-3804	138	15	similar	similar	ADJ
fsr-3804	138	16	to	to	ADP
fsr-3804	138	17	the	the	DET
fsr-3804	138	18	basic	basic	ADJ
fsr-3804	138	19	dupont	dupont	NOUN
fsr-3804	138	20	analysis	analysis	NOUN
fsr-3804	138	21	)	)	PUNCT
fsr-3804	138	22	.	.	PUNCT
fsr-3804	139	1	the	the	DET
fsr-3804	139	2	product	product	NOUN
fsr-3804	139	3	of	of	ADP
fsr-3804	139	4	these	these	DET
fsr-3804	139	5	ratios	ratio	NOUN
fsr-3804	139	6	generates	generate	VERB
fsr-3804	139	7	a	a	DET
fsr-3804	139	8	before	before	ADP
fsr-3804	139	9	tax	tax	NOUN
fsr-3804	139	10	return	return	NOUN
fsr-3804	139	11	on	on	ADP
fsr-3804	139	12	equity	equity	NOUN
fsr-3804	139	13	(	(	PUNCT
fsr-3804	139	14	nbt/	nbt/	PROPN
fsr-3804	139	15	equity	equity	NOUN
fsr-3804	139	16	)	)	PUNCT
fsr-3804	139	17	.	.	PUNCT
fsr-3804	140	1	the	the	DET
fsr-3804	140	2	next	next	ADJ
fsr-3804	140	3	column	column	NOUN
fsr-3804	140	4	is	be	AUX
fsr-3804	140	5	referred	refer	VERB
fsr-3804	140	6	to	to	ADP
fsr-3804	140	7	as	as	ADP
fsr-3804	140	8	the	the	DET
fsr-3804	140	9	"	"	PUNCT
fsr-3804	140	10	after	after	ADP
fsr-3804	140	11	-	-	PUNCT
fsr-3804	140	12	tax	tax	NOUN
fsr-3804	140	13	retention	retention	NOUN
fsr-3804	140	14	rate	rate	NOUN
fsr-3804	140	15	"	"	PUNCT
fsr-3804	140	16	and	and	CCONJ
fsr-3804	140	17	reflects	reflect	VERB
fsr-3804	140	18	the	the	DET
fsr-3804	140	19	impact	impact	NOUN
fsr-3804	140	20	of	of	ADP
fsr-3804	140	21	changing	change	VERB
fsr-3804	140	22	tax	tax	NOUN
fsr-3804	140	23	rates	rate	NOUN
fsr-3804	140	24	over	over	ADP
fsr-3804	140	25	time	time	NOUN
fsr-3804	140	26	(	(	PUNCT
fsr-3804	140	27	1	1	NUM
fsr-3804	140	28	(	(	PUNCT
fsr-3804	140	29	tax	tax	NOUN
fsr-3804	140	30	/	/	SYM
fsr-3804	140	31	nbt	nbt	NOUN
fsr-3804	140	32	)	)	PUNCT
fsr-3804	140	33	)	)	PUNCT
fsr-3804	140	34	.	.	PUNCT
fsr-3804	141	1	multiplying	multiply	VERB
fsr-3804	141	2	by	by	ADP
fsr-3804	141	3	this	this	DET
fsr-3804	141	4	ratio	ratio	NOUN
fsr-3804	141	5	generates	generate	VERB
fsr-3804	141	6	roe	roe	NOUN
fsr-3804	141	7	(	(	PUNCT
fsr-3804	141	8	net	net	PROPN
fsr-3804	141	9	inc	inc	PROPN
fsr-3804	141	10	/	/	PROPN
fsr-3804	141	11	equity	equity	PROPN
fsr-3804	141	12	)	)	PUNCT
fsr-3804	141	13	.	.	PUNCT
fsr-3804	142	1	in	in	ADP
fsr-3804	142	2	summary	summary	NOUN
fsr-3804	142	3	,	,	PUNCT
fsr-3804	142	4	the	the	DET
fsr-3804	142	5	breakdown	breakdown	NOUN
fsr-3804	142	6	is	be	AUX
fsr-3804	142	7	as	as	SCONJ
fsr-3804	142	8	follows	follow	VERB
fsr-3804	142	9	:	:	PUNCT
fsr-3804	142	10	e	e	PROPN
fsr-3804	142	11	b	b	X
fsr-3804	142	12	i	i	PRON
fsr-3804	142	13	t	t	X
fsr-3804	142	14	sa	sa	PROPN
fsr-3804	142	15	les	les	PROPN
fsr-3804	142	16	int	int	PROPN
fsr-3804	142	17	.	.	PUNCT
fsr-3804	143	1	exp	exp	NOUN
fsr-3804	143	2	.	.	PUNCT
fsr-3804	144	1	t.	t.	PROPN
fsr-3804	144	2	asse	asse	PROPN
fsr-3804	144	3	t	t	PROPN
fsr-3804	144	4	s	s	PART
fsr-3804	144	5	(	(	PUNCT
fsr-3804	144	6	tax	tax	NOUN
fsr-3804	144	7	x	x	X
fsr-3804	144	8	.	.	PUNCT
fsr-3804	145	1	x	x	PUNCT
fsr-3804	145	2	x	x	X
fsr-3804	145	3	~,1	~,1	PUNCT
fsr-3804	145	4	i	i	PRON
fsr-3804	145	5	=	=	PUNCT
fsr-3804	146	1	r	r	NOUN
fsr-3804	146	2	o	o	X
fsr-3804	146	3	e	e	NOUN
fsr-3804	146	4	sales	sale	NOUN
fsr-3804	146	5	t.	t.	PROPN
fsr-3804	146	6	a	a	DET
fsr-3804	146	7	s	s	X
fsr-3804	146	8	s	s	X
fsr-3804	146	9	e	e	NOUN
fsr-3804	146	10	t	t	NOUN
fsr-3804	146	11	s	s	PART
fsr-3804	146	12	t.	t.	NOUN
fsr-3804	146	13	asse	asse	PROPN
fsr-3804	146	14	t	t	PROPN
fsr-3804	146	15	s	s	VERB
fsr-3804	146	16	equ	equ	PROPN
fsr-3804	147	1	i	i	PRON
fsr-3804	147	2	t	t	VERB
fsr-3804	147	3	y	y	PROPN
fsr-3804	147	4	nb't	nb't	ADV
fsr-3804	147	5	)	)	PUNCT
fsr-3804	147	6	(	(	PUNCT
fsr-3804	147	7	4	4	X
fsr-3804	147	8	)	)	PUNCT
fsr-3804	147	9	this	this	DET
fsr-3804	147	10	analysis	analysis	NOUN
fsr-3804	147	11	can	can	AUX
fsr-3804	147	12	only	only	ADV
fsr-3804	147	13	begin	begin	VERB
fsr-3804	147	14	in	in	ADP
fsr-3804	147	15	1977	1977	NUM
fsr-3804	147	16	when	when	SCONJ
fsr-3804	147	17	these	these	DET
fsr-3804	147	18	data	datum	NOUN
fsr-3804	147	19	are	be	AUX
fsr-3804	147	20	available	available	ADJ
fsr-3804	147	21	for	for	ADP
fsr-3804	147	22	the	the	DET
fsr-3804	147	23	s&p	s&p	PROPN
fsr-3804	147	24	400	400	NUM
fsr-3804	147	25	series	series	NOUN
fsr-3804	147	26	.	.	PUNCT
fsr-3804	148	1	the	the	DET
fsr-3804	148	2	time	time	NOUN
fsr-3804	148	3	series	series	PROPN
fsr-3804	148	4	plot	plot	NOUN
fsr-3804	148	5	of	of	ADP
fsr-3804	148	6	roe	roe	NOUN
fsr-3804	148	7	for	for	ADP
fsr-3804	148	8	1977	1977	NUM
fsr-3804	148	9	-	-	SYM
fsr-3804	148	10	1995	1995	NUM
fsr-3804	148	11	is	be	AUX
fsr-3804	148	12	contained	contain	VERB
fsr-3804	148	13	in	in	ADP
fsr-3804	148	14	figure	figure	NOUN
fsr-3804	148	15	6	6	NUM
fsr-3804	148	16	.	.	PUNCT
fsr-3804	149	1	the	the	DET
fsr-3804	149	2	operating	operating	NOUN
fsr-3804	149	3	profit	profit	NOUN
fsr-3804	149	4	the	the	DET
fsr-3804	149	5	impact	impact	NOUN
fsr-3804	149	6	of	of	ADP
fsr-3804	149	7	lnflation	lnflation	NOUN
fsr-3804	149	8	18.0	18.0	NUM
fsr-3804	149	9	9	9	NUM
fsr-3804	149	10	18.0	18.0	NUM
fsr-3804	149	11	17.0	17.0	NUM
fsr-3804	149	12	16.0	16.0	NUM
fsr-3804	149	13	15.0	15.0	NUM
fsr-3804	149	14	~	~	PUNCT
fsr-3804	149	15	14.0	14.0	NUM
fsr-3804	149	16	~	~	NUM
fsr-3804	149	17	"	"	PUNCT
fsr-3804	149	18	13.o	13.o	NUM
fsr-3804	149	19	1zo	1zo	NOUN
fsr-3804	149	20	11.0	11.0	NUM
fsr-3804	149	21	10.0	10.0	NUM
fsr-3804	149	22	9.0	9.0	NUM
fsr-3804	149	23	11.5	11.5	NUM
fsr-3804	149	24	11.0	11.0	NUM
fsr-3804	149	25	~__1	~__1	PUNCT
fsr-3804	150	1	o	o	X
fsr-3804	150	2	's	's	PART
fsr-3804	150	3	~	~	PUNCT
fsr-3804	150	4	10.0	10.0	NUM
fsr-3804	150	5	i-	i-	X
fsr-3804	150	6	]	]	X
fsr-3804	150	7	9.s	9.s	NUM
fsr-3804	150	8	9.0	9.0	NUM
fsr-3804	150	9	8.5	8.5	NUM
fsr-3804	151	1	i	i	PRON
fsr-3804	151	2	l	l	VERB
fsr-3804	152	1	i	i	PRON
fsr-3804	152	2	i	i	PRON
fsr-3804	153	1	i	i	PRON
fsr-3804	153	2	i	i	PRON
fsr-3804	154	1	i	i	PRON
fsr-3804	154	2	i	i	PRON
fsr-3804	155	1	i	i	PRON
fsr-3804	155	2	i	i	PRON
fsr-3804	156	1	i	i	PRON
fsr-3804	156	2	i	i	PRON
fsr-3804	157	1	i	i	PRON
fsr-3804	157	2	i	i	PRON
fsr-3804	158	1	i	i	VERB
fsr-3804	158	2	i	i	PRON
fsr-3804	158	3	"	"	PUNCT
fsr-3804	158	4	i	i	PRON
fsr-3804	158	5	years	year	NOUN
fsr-3804	158	6	figure	figure	VERB
fsr-3804	158	7	6	6	NUM
fsr-3804	158	8	.	.	NOUN
fsr-3804	158	9	time	time	PROPN
fsr-3804	158	10	series	series	PROPN
fsr-3804	158	11	plot	plot	NOUN
fsr-3804	158	12	of	of	ADP
fsr-3804	158	13	return	return	NOUN
fsr-3804	158	14	on	on	ADP
fsr-3804	158	15	equity	equity	NOUN
fsr-3804	158	16	(	(	PUNCT
fsr-3804	158	17	roe	roe	PROPN
fsr-3804	158	18	)	)	PUNCT
fsr-3804	158	19	for	for	ADP
fsr-3804	158	20	s&p	s&p	PROPN
fsr-3804	158	21	400	400	NUM
fsr-3804	158	22	:	:	PUNCT
fsr-3804	158	23	1977	1977	NUM
fsr-3804	158	24	-	-	SYM
fsr-3804	158	25	1995	1995	NUM
fsr-3804	158	26	.	.	PUNCT
fsr-3804	159	1	17.0	17.0	NUM
fsr-3804	159	2	1$.0	1$.0	NUM
fsr-3804	159	3	15.0	15.0	NUM
fsr-3804	159	4	14.0	14.0	NUM
fsr-3804	159	5	13.0	13.0	NUM
fsr-3804	159	6	12.0	12.0	NUM
fsr-3804	159	7	11.0	11.0	NUM
fsr-3804	159	8	10.0	10.0	NUM
fsr-3804	159	9	9.0	9.0	NUM
fsr-3804	159	10	margin	margin	NOUN
fsr-3804	159	11	(	(	PUNCT
fsr-3804	159	12	figure	figure	NOUN
fsr-3804	159	13	7	7	NUM
fsr-3804	159	14	)	)	PUNCT
fsr-3804	159	15	generally	generally	ADV
fsr-3804	159	16	declined	decline	VERB
fsr-3804	159	17	from	from	ADP
fsr-3804	159	18	11.5	11.5	NUM
fsr-3804	159	19	percent	percent	NOUN
fsr-3804	159	20	to	to	ADP
fsr-3804	159	21	a	a	DET
fsr-3804	159	22	low	low	NOUN
fsr-3804	159	23	of	of	ADP
fsr-3804	159	24	about	about	ADV
fsr-3804	159	25	8	8	NUM
fsr-3804	159	26	percent	percent	NOUN
fsr-3804	159	27	prior	prior	ADV
fsr-3804	159	28	to	to	ADP
fsr-3804	159	29	a	a	DET
fsr-3804	159	30	recovery	recovery	NOUN
fsr-3804	159	31	in	in	ADP
fsr-3804	159	32	1994	1994	NUM
fsr-3804	159	33	,	,	PUNCT
fsr-3804	159	34	1995	1995	NUM
fsr-3804	159	35	.	.	PUNCT
fsr-3804	160	1	as	as	SCONJ
fsr-3804	160	2	noted	note	VERB
fsr-3804	160	3	previously	previously	ADV
fsr-3804	160	4	,	,	PUNCT
fsr-3804	160	5	the	the	DET
fsr-3804	160	6	tat	tat	NOUN
fsr-3804	160	7	(	(	PUNCT
fsr-3804	160	8	figure	figure	NOUN
fsr-3804	160	9	8)	8)	NUM
fsr-3804	160	10	declined	decline	VERB
fsr-3804	160	11	steadily	steadily	ADV
fsr-3804	160	12	from	from	ADP
fsr-3804	160	13	about	about	ADV
fsr-3804	160	14	1.30	1.30	NUM
fsr-3804	160	15	to	to	ADP
fsr-3804	160	16	0.96	0.96	NUM
fsr-3804	160	17	.	.	PUNCT
fsr-3804	161	1	the	the	DET
fsr-3804	161	2	debt	debt	NOUN
fsr-3804	161	3	effect	effect	NOUN
fsr-3804	161	4	in	in	ADP
fsr-3804	161	5	terms	term	NOUN
fsr-3804	161	6	of	of	ADP
fsr-3804	161	7	interest	interest	NOUN
fsr-3804	161	8	expense	expense	NOUN
fsr-3804	161	9	(	(	PUNCT
fsr-3804	161	10	figure	figure	NOUN
fsr-3804	161	11	9	9	NUM
fsr-3804	161	12	)	)	PUNCT
fsr-3804	161	13	increased	increase	VERB
fsr-3804	161	14	steadily	steadily	ADV
fsr-3804	161	15	from	from	ADP
fsr-3804	161	16	1.84	1.84	NUM
fsr-3804	161	17	to	to	ADP
fsr-3804	161	18	3.35	3.35	NUM
fsr-3804	161	19	in	in	ADP
fsr-3804	161	20	1989	1989	NUM
fsr-3804	161	21	(	(	PUNCT
fsr-3804	161	22	the	the	DET
fsr-3804	161	23	peak	peak	NOUN
fsr-3804	161	24	in	in	ADP
fsr-3804	161	25	financial	financial	ADJ
fsr-3804	161	26	leverage	leverage	NOUN
fsr-3804	161	27	)	)	PUNCT
fsr-3804	161	28	and	and	CCONJ
fsr-3804	161	29	then	then	ADV
fsr-3804	161	30	declined	decline	VERB
fsr-3804	161	31	to	to	ADP
fsr-3804	161	32	2.03	2.03	NUM
fsr-3804	161	33	in	in	ADP
fsr-3804	161	34	1995	1995	NUM
fsr-3804	161	35	mainly	mainly	ADV
fsr-3804	161	36	due	due	ADJ
fsr-3804	161	37	to	to	ADP
fsr-3804	161	38	lower	low	ADJ
fsr-3804	161	39	interest	interest	NOUN
fsr-3804	161	40	rates	rate	NOUN
fsr-3804	161	41	but	but	CCONJ
fsr-3804	161	42	also	also	ADV
fsr-3804	161	43	a	a	DET
fsr-3804	161	44	decline	decline	NOUN
fsr-3804	161	45	in	in	ADP
fsr-3804	161	46	balance	balance	NOUN
fsr-3804	161	47	sheet	sheet	NOUN
fsr-3804	161	48	debt	debt	NOUN
fsr-3804	161	49	.	.	PUNCT
fsr-3804	162	1	this	this	DET
fsr-3804	162	2	reduction	reduction	NOUN
fsr-3804	162	3	in	in	ADP
fsr-3804	162	4	debt	debt	NOUN
fsr-3804	162	5	on	on	ADP
fsr-3804	162	6	the	the	DET
fsr-3804	162	7	balance	balance	NOUN
fsr-3804	162	8	sheet	sheet	NOUN
fsr-3804	162	9	was	be	AUX
fsr-3804	162	10	not	not	PART
fsr-3804	162	11	adequately	adequately	ADV
fsr-3804	162	12	reflected	reflect	VERB
fsr-3804	162	13	in	in	ADP
fsr-3804	162	14	the	the	DET
fsr-3804	162	15	t.	t.	NOUN
fsr-3804	162	16	assets	asset	NOUN
fsr-3804	162	17	/	/	SYM
fsr-3804	162	18	equity	equity	NOUN
fsr-3804	162	19	ratio	ratio	NOUN
fsr-3804	162	20	(	(	PUNCT
fsr-3804	162	21	figure	figure	NOUN
fsr-3804	162	22	10	10	NUM
fsr-3804	162	23	)	)	PUNCT
fsr-3804	162	24	because	because	SCONJ
fsr-3804	162	25	of	of	ADP
fsr-3804	162	26	reduced	reduced	ADJ
fsr-3804	162	27	equity	equity	NOUN
fsr-3804	162	28	due	due	ADP
fsr-3804	162	29	to	to	ADP
fsr-3804	162	30	numerous	numerous	ADJ
fsr-3804	162	31	share	share	NOUN
fsr-3804	162	32	repurchase	repurchase	NOUN
fsr-3804	162	33	programs	program	NOUN
fsr-3804	162	34	(	(	PUNCT
fsr-3804	162	35	i.e.	i.e.	X
fsr-3804	162	36	,	,	PUNCT
fsr-3804	162	37	total	total	ADJ
fsr-3804	162	38	com	com	NOUN
fsr-3804	162	39	mon	mon	PROPN
fsr-3804	162	40	equity	equity	NOUN
fsr-3804	162	41	for	for	ADP
fsr-3804	162	42	the	the	DET
fsr-3804	162	43	s&p	s&p	PROPN
fsr-3804	162	44	400	400	NUM
fsr-3804	162	45	was	be	AUX
fsr-3804	162	46	188.25	188.25	NUM
fsr-3804	162	47	in	in	ADP
fsr-3804	162	48	1990	1990	NUM
fsr-3804	162	49	and	and	CCONJ
fsr-3804	162	50	188.88	188.88	NUM
fsr-3804	162	51	in	in	ADP
fsr-3804	162	52	1994	1994	NUM
fsr-3804	162	53	implying	imply	VERB
fsr-3804	162	54	that	that	SCONJ
fsr-3804	162	55	1z0	1z0	NUM
fsr-3804	162	56	1z0	1z0	NUM
fsr-3804	162	57	8.0	8.0	NUM
fsr-3804	162	58	j	j	PROPN
fsr-3804	162	59	11.5	11.5	NUM
fsr-3804	162	60	11.0	11.0	NUM
fsr-3804	162	61	10.5	10.5	NUM
fsr-3804	162	62	10.0	10.0	NUM
fsr-3804	162	63	9.5	9.5	NUM
fsr-3804	162	64	9.0	9.0	NUM
fsr-3804	162	65	8.5	8.5	NUM
fsr-3804	162	66	8.0	8.0	NUM
fsr-3804	162	67	i	i	NOUN
fsr-3804	162	68	~	~	PUNCT
fsr-3804	162	69	i~	i~	PROPN
fsr-3804	162	70	i~	i~	PROPN
fsr-3804	162	71	,	,	PUNCT
fsr-3804	162	72	m	m	VERB
fsr-3804	162	73	•	•	NOUN
fsr-3804	162	74	eo	eo	INTJ
fsr-3804	162	75	00	00	PUNCT
fsr-3804	163	1	~	~	PUNCT
fsr-3804	163	2	~	~	PUNCT
fsr-3804	163	3	10	10	NUM
fsr-3804	163	4	i	i	NOUN
fsr-3804	163	5	l	l	NOUN
fsr-3804	163	6	l	l	X
fsr-3804	163	7	~	~	PUNCT
fsr-3804	163	8	o~	o~	PROPN
fsr-3804	163	9	;	;	PUNCT
fsr-3804	163	10	cd	cd	PROPN
fsr-3804	163	11	ot	ot	NOUN
fsr-3804	163	12	~/~	~/~	NUM
fsr-3804	163	13	years	year	NOUN
fsr-3804	163	14	figure	figure	VERB
fsr-3804	163	15	7	7	NUM
fsr-3804	163	16	.	.	NOUN
fsr-3804	163	17	time	time	PROPN
fsr-3804	163	18	series	series	PROPN
fsr-3804	163	19	plot	plot	NOUN
fsr-3804	163	20	of	of	ADP
fsr-3804	163	21	ebit	ebit	PROPN
fsr-3804	163	22	/	/	SYM
fsr-3804	163	23	sales	sale	NOUN
fsr-3804	163	24	for	for	ADP
fsr-3804	163	25	s&p	s&p	PROPN
fsr-3804	163	26	400	400	NUM
fsr-3804	163	27	:	:	PUNCT
fsr-3804	163	28	1977	1977	NUM
fsr-3804	163	29	-	-	SYM
fsr-3804	163	30	1995	1995	NUM
fsr-3804	163	31	.	.	PUNCT
fsr-3804	164	1	10	10	NUM
fsr-3804	164	2	financial	financial	ADJ
fsr-3804	164	3	services	service	NOUN
fsr-3804	164	4	review	review	VERB
fsr-3804	164	5	6(1	6(1	NUM
fsr-3804	164	6	)	)	PUNCT
fsr-3804	164	7	1997	1997	NUM
fsr-3804	164	8	t	t	NOUN
fsr-3804	164	9	.4	.4	NUM
fsr-3804	164	10	1.4	1.4	NUM
fsr-3804	164	11	1.3	1.3	NUM
fsr-3804	164	12	1.2	1.2	NUM
fsr-3804	164	13	i-	i-	NOUN
fsr-3804	165	1	1.11	1.11	NUM
fsr-3804	165	2	0.9	0.9	NUM
fsr-3804	165	3	0.8	0.8	NUM
fsr-3804	166	1	i	i	PRON
fsr-3804	167	1	i	i	PRON
fsr-3804	168	1	i	i	PRON
fsr-3804	169	1	i	i	VERB
fsr-3804	169	2	l	l	VERB
fsr-3804	170	1	i	i	PRON
fsr-3804	170	2	i	i	PRON
fsr-3804	171	1	i	i	PRON
fsr-3804	171	2	i	i	VERB
fsr-3804	171	3	i	i	PRON
fsr-3804	171	4	!	!	PUNCT
fsr-3804	171	5	!	!	PUNCT
fsr-3804	172	1	i	i	PRON
fsr-3804	172	2	i	i	PRON
fsr-3804	173	1	i	i	PRON
fsr-3804	173	2	i	i	VERB
fsr-3804	174	1	i	i	VERB
fsr-3804	174	2	~	~	PUNCT
fsr-3804	174	3	~	~	PUNCT
fsr-3804	174	4	¢b	¢b	NOUN
fsr-3804	174	5	o	o	X
fsr-3804	175	1	~	~	PUNCT
fsr-3804	175	2	"	"	PUNCT
fsr-3804	175	3	.	.	PUNCT
fsr-3804	176	1	t~	t~	NOUN
fsr-3804	176	2	g	g	PROPN
fsr-3804	176	3	t	t	PROPN
fsr-3804	176	4	n	n	NOUN
fsr-3804	176	5	w	w	VERB
fsr-3804	176	6	~	~	PUNCT
fsr-3804	176	7	~	~	PUNCT
fsr-3804	176	8	o	o	X
fsr-3804	176	9	e4	e4	PROPN
fsr-3804	176	10	m	m	NOUN
fsr-3804	176	11	years	year	NOUN
fsr-3804	176	12	figure	figure	VERB
fsr-3804	176	13	8	8	NUM
fsr-3804	176	14	.	.	NOUN
fsr-3804	176	15	time	time	PROPN
fsr-3804	176	16	series	series	PROPN
fsr-3804	176	17	plot	plot	NOUN
fsr-3804	176	18	of	of	ADP
fsr-3804	176	19	total	total	ADJ
fsr-3804	176	20	asset	asset	NOUN
fsr-3804	176	21	turnover	turnover	NOUN
fsr-3804	176	22	(	(	PUNCT
fsr-3804	176	23	tat	tat	NOUN
fsr-3804	176	24	)	)	PUNCT
fsr-3804	176	25	for	for	ADP
fsr-3804	176	26	s&p	s&p	PROPN
fsr-3804	176	27	400	400	NUM
fsr-3804	176	28	:	:	PUNCT
fsr-3804	176	29	197%1995	197%1995	NUM
fsr-3804	176	30	.	.	PUNCT
fsr-3804	177	1	1.3	1.3	NUM
fsr-3804	177	2	1.2	1.2	NUM
fsr-3804	177	3	1.1	1.1	NUM
fsr-3804	177	4	1.0	1.0	NUM
fsr-3804	177	5	0.9	0.9	NUM
fsr-3804	177	6	i	i	PRON
fsr-3804	177	7	0.8	0.8	NUM
fsr-3804	177	8	increases	increase	NOUN
fsr-3804	177	9	in	in	ADP
fsr-3804	177	10	retained	retain	VERB
fsr-3804	177	11	earnings	earning	NOUN
fsr-3804	177	12	were	be	AUX
fsr-3804	177	13	offset	offset	VERB
fsr-3804	177	14	by	by	ADP
fsr-3804	177	15	share	share	NOUN
fsr-3804	177	16	repurchases	repurchase	NOUN
fsr-3804	177	17	)	)	PUNCT
fsr-3804	177	18	.	.	PUNCT
fsr-3804	178	1	overall	overall	ADV
fsr-3804	178	2	,	,	PUNCT
fsr-3804	178	3	the	the	DET
fsr-3804	178	4	financial	financial	ADJ
fsr-3804	178	5	leverage	leverage	NOUN
fsr-3804	178	6	multiplier	multiplier	ADV
fsr-3804	178	7	increased	increase	VERB
fsr-3804	178	8	from	from	ADP
fsr-3804	178	9	2.08	2.08	NUM
fsr-3804	178	10	to	to	ADP
fsr-3804	178	11	a	a	DET
fsr-3804	178	12	peak	peak	NOUN
fsr-3804	178	13	of	of	ADP
fsr-3804	178	14	3.76	3.76	NUM
fsr-3804	178	15	in	in	ADP
fsr-3804	178	16	1993	1993	NUM
fsr-3804	178	17	and	and	CCONJ
fsr-3804	178	18	3.32	3.32	NUM
fsr-3804	178	19	in	in	ADP
fsr-3804	178	20	1995	1995	NUM
fsr-3804	178	21	.	.	PUNCT
fsr-3804	179	1	finally	finally	ADV
fsr-3804	179	2	,	,	PUNCT
fsr-3804	179	3	the	the	DET
fsr-3804	179	4	after	after	ADP
fsr-3804	179	5	-	-	PUNCT
fsr-3804	179	6	tax	tax	NOUN
fsr-3804	179	7	retention	retention	NOUN
fsr-3804	179	8	ratio	ratio	NOUN
fsr-3804	179	9	(	(	PUNCT
fsr-3804	179	10	figure	figure	NOUN
fsr-3804	179	11	11	11	NUM
fsr-3804	179	12	)	)	PUNCT
fsr-3804	179	13	indicated	indicate	VERB
fsr-3804	179	14	a	a	DET
fsr-3804	179	15	very	very	ADV
fsr-3804	179	16	accommodative	accommodative	ADJ
fsr-3804	179	17	tax	tax	NOUN
fsr-3804	179	18	policy	policy	NOUN
fsr-3804	179	19	.	.	PUNCT
fsr-3804	180	1	specifically	specifically	ADV
fsr-3804	180	2	,	,	PUNCT
fsr-3804	180	3	the	the	DET
fsr-3804	180	4	after	after	ADP
fsr-3804	180	5	-	-	PUNCT
fsr-3804	180	6	tax	tax	NOUN
fsr-3804	180	7	retention	retention	NOUN
fsr-3804	180	8	rate	rate	NOUN
fsr-3804	180	9	went	go	VERB
fsr-3804	180	10	from	from	ADP
fsr-3804	180	11	about	about	ADV
fsr-3804	180	12	50	50	NUM
fsr-3804	180	13	percent	percent	NOUN
fsr-3804	180	14	in	in	ADP
fsr-3804	180	15	1977	1977	NUM
fsr-3804	180	16	to	to	ADP
fsr-3804	180	17	a	a	DET
fsr-3804	180	18	peak	peak	NOUN
fsr-3804	180	19	of	of	ADP
fsr-3804	180	20	over	over	ADP
fsr-3804	180	21	64	64	NUM
fsr-3804	180	22	percent	percent	NOUN
fsr-3804	180	23	in	in	ADP
fsr-3804	180	24	1994	1994	NUM
fsr-3804	180	25	.	.	PUNCT
fsr-3804	181	1	this	this	DET
fsr-3804	181	2	reduction	reduction	NOUN
fsr-3804	181	3	in	in	ADP
fsr-3804	181	4	the	the	DET
fsr-3804	181	5	effective	effective	ADJ
fsr-3804	181	6	tax	tax	NOUN
fsr-3804	181	7	rate	rate	NOUN
fsr-3804	181	8	(	(	PUNCT
fsr-3804	181	9	from	from	ADP
fsr-3804	181	10	50	50	NUM
fsr-3804	181	11	percent	percent	NOUN
fsr-3804	181	12	to	to	ADP
fsr-3804	181	13	36	36	NUM
fsr-3804	181	14	percent	percent	NOUN
fsr-3804	181	15	)	)	PUNCT
fsr-3804	181	16	was	be	AUX
fsr-3804	181	17	a	a	DET
fsr-3804	181	18	significant	significant	ADJ
fsr-3804	181	19	factor	factor	NOUN
fsr-3804	181	20	contributing	contribute	VERB
fsr-3804	181	21	to	to	ADP
fsr-3804	181	22	the	the	DET
fsr-3804	181	23	peak	peak	NOUN
fsr-3804	181	24	roe	roe	NOUN
fsr-3804	181	25	in	in	ADP
fsr-3804	181	26	1994	1994	NUM
fsr-3804	181	27	.	.	PUNCT
fsr-3804	182	1	in	in	ADP
fsr-3804	182	2	summary	summary	NOUN
fsr-3804	182	3	,	,	PUNCT
fsr-3804	182	4	this	this	DET
fsr-3804	182	5	extended	extended	ADJ
fsr-3804	182	6	analysis	analysis	NOUN
fsr-3804	182	7	is	be	AUX
fsr-3804	182	8	consistent	consistent	ADJ
fsr-3804	182	9	with	with	ADP
fsr-3804	182	10	the	the	DET
fsr-3804	182	11	traditional	traditional	ADJ
fsr-3804	182	12	dupont	dupont	NOUN
fsr-3804	182	13	analysis	analysis	NOUN
fsr-3804	182	14	wherein	wherein	SCONJ
fsr-3804	182	15	it	it	PRON
fsr-3804	182	16	reflects	reflect	VERB
fsr-3804	182	17	the	the	DET
fsr-3804	182	18	decline	decline	NOUN
fsr-3804	182	19	in	in	ADP
fsr-3804	182	20	tat	tat	NOUN
fsr-3804	182	21	,	,	PUNCT
fsr-3804	182	22	some	some	DET
fsr-3804	182	23	weakness	weakness	NOUN
fsr-3804	182	24	in	in	ADP
fsr-3804	182	25	the	the	DET
fsr-3804	182	26	operating	operate	VERB
fsr-3804	182	27	profit	profit	NOUN
fsr-3804	182	28	margin	margin	NOUN
fsr-3804	182	29	,	,	PUNCT
fsr-3804	182	30	and	and	CCONJ
fsr-3804	182	31	it	it	PRON
fsr-3804	182	32	highlights	highlight	VERB
fsr-3804	182	33	the	the	DET
fsr-3804	182	34	increase	increase	NOUN
fsr-3804	182	35	in	in	ADP
fsr-3804	182	36	financial	financial	ADJ
fsr-3804	182	37	leverage	leverage	NOUN
fsr-3804	182	38	on	on	ADP
fsr-3804	182	39	the	the	DET
fsr-3804	182	40	income	income	NOUN
fsr-3804	182	41	statement	statement	NOUN
fsr-3804	182	42	as	as	ADV
fsr-3804	182	43	well	well	ADV
fsr-3804	182	44	as	as	ADP
fsr-3804	182	45	the	the	DET
fsr-3804	182	46	bal	bal	PROPN
fsr-3804	182	47	3.5	3.5	NUM
fsr-3804	182	48	-	-	PUNCT
fsr-3804	182	49	,	,	PUNCT
fsr-3804	182	50	-~	-~	PROPN
fsr-3804	182	51	3.s	3.s	NUM
fsr-3804	182	52	3.3	3.3	NUM
fsr-3804	182	53	'	'	NUM
fsr-3804	182	54	3.3	3.3	NUM
fsr-3804	182	55	3.1	3.1	NUM
fsr-3804	182	56	3.1	3.1	NUM
fsr-3804	182	57	o	o	NOUN
fsr-3804	182	58	)	)	PUNCT
fsr-3804	182	59	2.9	2.9	NUM
fsr-3804	182	60	:	:	PUNCT
fsr-3804	182	61	"	"	PUNCT
fsr-3804	182	62	2.9	2.9	NUM
fsr-3804	182	63	k	k	NOUN
fsr-3804	182	64	,	,	PUNCT
fsr-3804	182	65	..	..	PUNCT
fsr-3804	182	66	i11	i11	ADJ
fsr-3804	182	67	2.7	2.7	NUM
fsr-3804	182	68	2.7	2.7	NUM
fsr-3804	182	69	¢	¢	NUM
fsr-3804	182	70	)	)	PUNCT
fsr-3804	183	1	2.s	2.s	NUM
fsr-3804	183	2	.	.	PUNCT
fsr-3804	184	1	2.5	2.5	NUM
fsr-3804	184	2	<	<	X
fsr-3804	184	3	.	.	PUNCT
fsr-3804	184	4	i-	i-	X
fsr-3804	184	5	"	"	PUNCT
fsr-3804	184	6	2.3	2.3	NUM
fsr-3804	184	7	2.3	2.3	NUM
fsr-3804	184	8	2.1	2.1	NUM
fsr-3804	184	9	2.1	2.1	NUM
fsr-3804	184	10	1	1	NUM
fsr-3804	184	11	.s	.s	NOUN
fsr-3804	184	12	t	t	NOUN
fsr-3804	184	13	.9	.9	NUM
fsr-3804	185	1	z	z	NOUN
fsr-3804	185	2	1.7~	1.7~	NUM
fsr-3804	186	1	~'1.7	~'1.7	ADJ
fsr-3804	186	2	1.s	1.s	NUM
fsr-3804	186	3	1.s	1.s	NUM
fsr-3804	186	4	years	year	NOUN
fsr-3804	186	5	figure	figure	VERB
fsr-3804	186	6	9	9	NUM
fsr-3804	186	7	.	.	NOUN
fsr-3804	186	8	time	time	NOUN
fsr-3804	186	9	series	series	PROPN
fsr-3804	186	10	plot	plot	NOUN
fsr-3804	186	11	of	of	ADP
fsr-3804	186	12	int	int	NOUN
fsr-3804	186	13	.	.	PUNCT
fsr-3804	187	1	exp./t	exp./t	INTJ
fsr-3804	187	2	.	.	PUNCT
fsr-3804	188	1	assets	asset	NOUN
fsr-3804	188	2	for	for	ADP
fsr-3804	188	3	s&p	s&p	PROPN
fsr-3804	188	4	400	400	NUM
fsr-3804	188	5	:	:	PUNCT
fsr-3804	188	6	197%1995	197%1995	NUM
fsr-3804	188	7	.	.	PUNCT
fsr-3804	189	1	th¢	th¢	PROPN
fsr-3804	189	2	in	in	ADP
fsr-3804	189	3	~	~	PROPN
fsr-3804	189	4	e	e	PROPN
fsr-3804	189	5	t	t	PROPN
fsr-3804	189	6	af	af	PROPN
fsr-3804	189	7	lnflatian	lnflatian	PROPN
fsr-3804	189	8	11	11	NUM
fsr-3804	189	9	4.0	4.0	NUM
fsr-3804	189	10	4.0	4.0	NUM
fsr-3804	189	11	3.s	3.s	NUM
fsr-3804	189	12	0	0	NUM
fsr-3804	190	1	u.j	u.j	PROPN
fsr-3804	190	2	3	3	NUM
fsr-3804	190	3	.	.	PUNCT
fsr-3804	190	4	0	0	NUM
fsr-3804	191	1	u	u	NOUN
fsr-3804	191	2	)	)	PUNCT
fsr-3804	192	1	i	i	PRON
fsr-3804	192	2	'	'	PUNCT
fsr-3804	192	3	u.i	u.i	VERB
fsr-3804	192	4	2.s	2.s	NUM
fsr-3804	192	5	c~	c~	PROPN
fsr-3804	192	6	u	u	NOUN
fsr-3804	192	7	)	)	PUNCT
fsr-3804	192	8	i-2.o	i-2.o	ADP
fsr-3804	192	9	3.5	3.5	NUM
fsr-3804	192	10	3.0	3.0	NUM
fsr-3804	192	11	2.5	2.5	NUM
fsr-3804	192	12	2.0	2.0	NUM
fsr-3804	192	13	1.s	1.s	NUM
fsr-3804	192	14	¢1~	¢1~	NOUN
fsr-3804	192	15	ob	ob	ADP
fsr-3804	192	16	¢~	¢~	NOUN
fsr-3804	192	17	¢~	¢~	NUM
fsr-3804	192	18	¢d	¢d	NOUN
fsr-3804	192	19	o~	o~	PROPN
fsr-3804	192	20	¢d	¢d	PROPN
fsr-3804	192	21	od	od	ADP
fsr-3804	192	22	o~	o~	PROPN
fsr-3804	192	23	¢d	¢d	PROPN
fsr-3804	192	24	¢d	¢d	PROPN
fsr-3804	192	25	oi	oi	INTJ
fsr-3804	192	26	clip	clip	VERB
fsr-3804	192	27	a	a	DET
fsr-3804	192	28	¢m	¢m	NOUN
fsr-3804	192	29	~	~	PUNCT
fsr-3804	192	30	~	~	PUNCT
fsr-3804	192	31	m	m	PROPN
fsr-3804	192	32	¢d	¢d	NOUN
fsr-3804	192	33	years	year	NOUN
fsr-3804	192	34	figure	figure	VERB
fsr-3804	192	35	10	10	NUM
fsr-3804	192	36	.	.	PUNCT
fsr-3804	192	37	time	time	PROPN
fsr-3804	192	38	series	series	PROPN
fsr-3804	192	39	plot	plot	NOUN
fsr-3804	192	40	of	of	ADP
fsr-3804	192	41	t.	t.	NOUN
fsr-3804	192	42	assets	asset	NOUN
fsr-3804	192	43	/	/	SYM
fsr-3804	192	44	equity	equity	NOUN
fsr-3804	192	45	for	for	ADP
fsr-3804	192	46	s&p	s&p	PROPN
fsr-3804	192	47	400	400	NUM
fsr-3804	192	48	:	:	PUNCT
fsr-3804	192	49	1977	1977	NUM
fsr-3804	192	50	-	-	SYM
fsr-3804	192	51	1995	1995	NUM
fsr-3804	192	52	.	.	PUNCT
fsr-3804	193	1	1.s	1.s	NUM
fsr-3804	193	2	table	table	NOUN
fsr-3804	193	3	2	2	NUM
fsr-3804	193	4	extended	extend	VERB
fsr-3804	193	5	dupont	dupont	NOUN
fsr-3804	193	6	analysis	analysis	NOUN
fsr-3804	193	7	of	of	ADP
fsr-3804	193	8	return	return	NOUN
fsr-3804	193	9	on	on	ADP
fsr-3804	193	10	equity	equity	NOUN
fsr-3804	193	11	s&p	s&p	PROPN
fsr-3804	193	12	400	400	NUM
fsr-3804	193	13	industrial	industrial	ADJ
fsr-3804	193	14	:	:	PUNCT
fsr-3804	193	15	1977	1977	NUM
fsr-3804	193	16	-	-	SYM
fsr-3804	193	17	1995	1995	NUM
fsr-3804	193	18	ebit/	ebit/	NUM
fsr-3804	193	19	sales~.	sales~.	NOUN
fsr-3804	193	20	ebit	ebit	PROPN
fsr-3804	193	21	/	/	SYM
fsr-3804	193	22	r.	r.	PROPN
fsr-3804	193	23	int	int	PROPN
fsr-3804	193	24	.	.	PUNCT
fsr-3804	194	1	e	e	X
fsr-3804	194	2	a	a	PRON
fsr-3804	194	3	'	'	PUNCT
fsr-3804	194	4	p	p	NOUN
fsr-3804	194	5	j	j	PROPN
fsr-3804	194	6	nbt/	nbt/	PROPN
fsr-3804	194	7	,	,	PUNCT
fsr-3804	194	8	7	7	NUM
fsr-3804	194	9	'	'	PART
fsr-3804	194	10	assets/	assets/	NUM
fsr-3804	194	11	nbt/	nbt/	PROPN
fsr-3804	194	12	!	!	PUNCT
fsr-3804	195	1	tax	tax	NOUN
fsr-3804	195	2	net	net	NOUN
fsr-3804	195	3	.	.	PUNCT
fsr-3804	196	1	lncj	lncj	ADJ
fsr-3804	196	2	net	net	NOUN
fsr-3804	196	3	.	.	PUNCT
fsr-3804	197	1	lncj	lncj	ADJ
fsr-3804	197	2	year	year	NOUN
fsr-3804	197	3	sales	sale	NOUN
fsr-3804	197	4	assets	asset	NOUN
fsr-3804	197	5	assets	asset	NOUN
fsr-3804	197	6	7	7	NUM
fsr-3804	197	7	"	"	PUNCT
fsr-3804	197	8	.	.	PUNCT
fsr-3804	198	1	assets	asset	NOUN
fsr-3804	198	2	t.assets	t.asset	NOUN
fsr-3804	198	3	equity	equity	NOUN
fsr-3804	198	4	equity	equity	NOUN
fsr-3804	198	5	n	n	PROPN
fsr-3804	198	6	b	b	PROPN
fsr-3804	198	7	t	t	PROPN
fsr-3804	198	8	equity	equity	NOUN
fsr-3804	198	9	sales	sale	NOUN
fsr-3804	198	10	1977	1977	NUM
fsr-3804	198	11	1978	1978	NUM
fsr-3804	198	12	1979	1979	NUM
fsr-3804	198	13	1980	1980	NUM
fsr-3804	198	14	1981	1981	NUM
fsr-3804	198	15	11.52	11.52	NUM
fsr-3804	198	16	1.27	1.27	NUM
fsr-3804	198	17	14.65	14.65	NUM
fsr-3804	198	18	1.84	1.84	NUM
fsr-3804	198	19	12.80	12.80	NUM
fsr-3804	198	20	11.55	11.55	NUM
fsr-3804	198	21	1.27	1.27	NUM
fsr-3804	198	22	14.64	14.64	NUM
fsr-3804	198	23	1.94	1.94	NUM
fsr-3804	198	24	12.70	12.70	NUM
fsr-3804	198	25	11.93	11.93	NUM
fsr-3804	198	26	1.30	1.30	NUM
fsr-3804	198	27	15.51	15.51	NUM
fsr-3804	198	28	2.04	2.04	NUM
fsr-3804	198	29	13.47	13.47	NUM
fsr-3804	198	30	10.92	10.92	NUM
fsr-3804	198	31	1.31	1.31	NUM
fsr-3804	198	32	14.35	14.35	NUM
fsr-3804	198	33	2.39	2.39	NUM
fsr-3804	198	34	11.96	11.96	NUM
fsr-3804	198	35	10.80	10.80	NUM
fsr-3804	198	36	1.28	1.28	NUM
fsr-3804	198	37	13.81	13.81	NUM
fsr-3804	198	38	2.78	2.78	NUM
fsr-3804	198	39	11.02	11.02	NUM
fsr-3804	198	40	2.08	2.08	NUM
fsr-3804	198	41	26.58	26.58	NUM
fsr-3804	198	42	50.69	50.69	NUM
fsr-3804	198	43	13.47	13.47	NUM
fsr-3804	198	44	5.11	5.11	NUM
fsr-3804	198	45	2.15	2.15	NUM
fsr-3804	198	46	27.25	27.25	NUM
fsr-3804	198	47	51.79	51.79	NUM
fsr-3804	198	48	14.11	14.11	NUM
fsr-3804	198	49	5.19	5.19	NUM
fsr-3804	198	50	2.20	2.20	NUM
fsr-3804	198	51	29.58	29.58	NUM
fsr-3804	198	52	53.74	53.74	NUM
fsr-3804	198	53	15.90	15.90	NUM
fsr-3804	198	54	5.57	5.57	NUM
fsr-3804	198	55	2.23	2.23	NUM
fsr-3804	198	56	26.67	26.67	NUM
fsr-3804	198	57	54.11	54.11	NUM
fsr-3804	198	58	14.43	14.43	NUM
fsr-3804	198	59	4.92	4.92	NUM
fsr-3804	198	60	2.25	2.25	NUM
fsr-3804	198	61	24.77	24.77	NUM
fsr-3804	198	62	56.38	56.38	NUM
fsr-3804	198	63	13.97	13.97	NUM
fsr-3804	198	64	4.86	4.86	NUM
fsr-3804	198	65	1982	1982	NUM
fsr-3804	198	66	1983	1983	NUM
fsr-3804	198	67	1984	1984	NUM
fsr-3804	198	68	1985	1985	NUM
fsr-3804	198	69	1986	1986	NUM
fsr-3804	198	70	9.70	9.70	NUM
fsr-3804	198	71	1.17	1.17	NUM
fsr-3804	198	72	11.39	11.39	NUM
fsr-3804	198	73	2.90	2.90	NUM
fsr-3804	198	74	8.50	8.50	NUM
fsr-3804	198	75	10.33	10.33	NUM
fsr-3804	198	76	1.15	1.15	NUM
fsr-3804	198	77	11.92	11.92	NUM
fsr-3804	198	78	2.63	2.63	NUM
fsr-3804	198	79	9.29	9.29	NUM
fsr-3804	198	80	10.26	10.26	NUM
fsr-3804	198	81	1.27	1.27	NUM
fsr-3804	198	82	13.08	13.08	NUM
fsr-3804	198	83	2.74	2.74	NUM
fsr-3804	198	84	10.34	10.34	NUM
fsr-3804	198	85	9.59	9.59	NUM
fsr-3804	198	86	1.15	1.15	NUM
fsr-3804	198	87	11.02	11.02	NUM
fsr-3804	198	88	2.67	2.67	NUM
fsr-3804	198	89	8.35	8.35	NUM
fsr-3804	198	90	9.10	9.10	NUM
fsr-3804	198	91	1.07	1.07	NUM
fsr-3804	198	92	9.71	9.71	NUM
fsr-3804	198	93	2.68	2.68	NUM
fsr-3804	198	94	7.03	7.03	NUM
fsr-3804	198	95	2.31	2.31	NUM
fsr-3804	198	96	19.63	19.63	NUM
fsr-3804	198	97	54.66	54.66	NUM
fsr-3804	198	98	10.73	10.73	NUM
fsr-3804	198	99	3.95	3.95	NUM
fsr-3804	198	100	2.28	2.28	NUM
fsr-3804	198	101	21.19	21.19	NUM
fsr-3804	198	102	54.91	54.91	NUM
fsr-3804	198	103	11.63	11.63	NUM
fsr-3804	198	104	4.42	4.42	NUM
fsr-3804	198	105	2.39	2.39	NUM
fsr-3804	198	106	24.69	24.69	NUM
fsr-3804	198	107	56.14	56.14	NUM
fsr-3804	198	108	13.86	13.86	NUM
fsr-3804	198	109	4.55	4.55	NUM
fsr-3804	198	110	2.54	2.54	NUM
fsr-3804	198	111	21.25	21.25	NUM
fsr-3804	198	112	52.76	52.76	NUM
fsr-3804	198	113	11.21	11.21	NUM
fsr-3804	198	114	3.84	3.84	NUM
fsr-3804	198	115	2.58	2.58	NUM
fsr-3804	198	116	1	1	NUM
fsr-3804	198	117	8	8	NUM
fsr-3804	198	118	.	.	PUNCT
fsr-3804	198	119	1	1	NUM
fsr-3804	198	120	6	6	NUM
fsr-3804	198	121	56.91	56.91	NUM
fsr-3804	198	122	10.33	10.33	NUM
fsr-3804	198	123	3.75	3.75	NUM
fsr-3804	198	124	1987	1987	NUM
fsr-3804	198	125	1988	1988	NUM
fsr-3804	198	126	1989	1989	NUM
fsr-3804	198	127	1990	1990	NUM
fsr-3804	198	128	1991	1991	NUM
fsr-3804	198	129	10.29	10.29	NUM
fsr-3804	198	130	1.08	1.08	NUM
fsr-3804	198	131	i	i	NOUN
fsr-3804	198	132	1.14	1.14	NUM
fsr-3804	198	133	2.55	2.55	NUM
fsr-3804	198	134	8.61	8.61	NUM
fsr-3804	198	135	11.62	11.62	NUM
fsr-3804	198	136	0.98	0.98	NUM
fsr-3804	198	137	11.37	11.37	NUM
fsr-3804	198	138	3.02	3.02	NUM
fsr-3804	198	139	8.36	8.36	NUM
fsr-3804	198	140	11.48	11.48	NUM
fsr-3804	198	141	0.97	0.97	NUM
fsr-3804	198	142	11.09	11.09	NUM
fsr-3804	198	143	3.35	3.35	NUM
fsr-3804	198	144	7.74	7.74	NUM
fsr-3804	198	145	10.48	10.48	NUM
fsr-3804	198	146	0.97	0.97	NUM
fsr-3804	198	147	10.14	10.14	NUM
fsr-3804	198	148	3.28	3.28	NUM
fsr-3804	198	149	6.86	6.86	NUM
fsr-3804	198	150	8.34	8.34	NUM
fsr-3804	198	151	0.94	0.94	NUM
fsr-3804	198	152	7.88	7.88	NUM
fsr-3804	198	153	3.02	3.02	NUM
fsr-3804	198	154	4.86	4.86	NUM
fsr-3804	198	155	2.62	2.62	NUM
fsr-3804	198	156	22.54	22.54	NUM
fsr-3804	198	157	59.23	59.23	NUM
fsr-3804	198	158	13.35	13.35	NUM
fsr-3804	198	159	4.71	4.71	NUM
fsr-3804	198	160	3.03	3.03	NUM
fsr-3804	198	161	25.32	25.32	NUM
fsr-3804	198	162	63.93	63.93	NUM
fsr-3804	198	163	16.19	16.19	NUM
fsr-3804	198	164	5.46	5.46	NUM
fsr-3804	198	165	3.17	3.17	NUM
fsr-3804	198	166	2	2	NUM
fsr-3804	198	167	4	4	NUM
fsr-3804	198	168	.	.	PUNCT
fsr-3804	198	169	5	5	NUM
fsr-3804	198	170	1	1	NUM
fsr-3804	198	171	63.47	63.47	NUM
fsr-3804	198	172	15.56	15.56	NUM
fsr-3804	198	173	5.08	5.08	NUM
fsr-3804	198	174	3.26	3.26	NUM
fsr-3804	198	175	22.39	22.39	NUM
fsr-3804	198	176	61.39	61.39	NUM
fsr-3804	198	177	13.74	13.74	NUM
fsr-3804	198	178	4.35	4.35	NUM
fsr-3804	198	179	3.24	3.24	NUM
fsr-3804	198	180	1	1	NUM
fsr-3804	198	181	5	5	NUM
fsr-3804	198	182	.	.	PUNCT
fsr-3804	198	183	7	7	NUM
fsr-3804	198	184	6	6	NUM
fsr-3804	198	185	59.59	59.59	NUM
fsr-3804	198	186	9.39	9.39	NUM
fsr-3804	198	187	1992	1992	NUM
fsr-3804	198	188	1993	1993	NUM
fsr-3804	198	189	1994	1994	NUM
fsr-3804	198	190	1995	1995	NUM
fsr-3804	198	191	8.08	8.08	NUM
fsr-3804	198	192	0.95	0.95	NUM
fsr-3804	198	193	7.69	7.69	NUM
fsr-3804	198	194	2.56	2.56	NUM
fsr-3804	198	195	5.12	5.12	NUM
fsr-3804	198	196	8.48	8.48	NUM
fsr-3804	198	197	0.92	0.92	NUM
fsr-3804	198	198	7.78	7.78	NUM
fsr-3804	198	199	2.23	2.23	NUM
fsr-3804	198	200	5.55	5.55	NUM
fsr-3804	198	201	10.49	10.49	NUM
fsr-3804	198	202	0.95	0.95	NUM
fsr-3804	198	203	9.94	9.94	NUM
fsr-3804	198	204	1.93	1.93	NUM
fsr-3804	198	205	8.01	8.01	NUM
fsr-3804	198	206	10.60	10.60	NUM
fsr-3804	198	207	0.96	0.96	NUM
fsr-3804	198	208	10.14	10.14	NUM
fsr-3804	198	209	2.03	2.03	NUM
fsr-3804	198	210	8.12	8.12	NUM
fsr-3804	198	211	3.55	3.55	NUM
fsr-3804	198	212	1	1	NUM
fsr-3804	198	213	8	8	NUM
fsr-3804	198	214	.	.	PUNCT
fsr-3804	198	215	2	2	NUM
fsr-3804	198	216	0	0	NUM
fsr-3804	198	217	62.91	62.91	NUM
fsr-3804	198	218	11.45	11.45	NUM
fsr-3804	198	219	3.39	3.39	NUM
fsr-3804	198	220	3.76	3.76	NUM
fsr-3804	198	221	20.89	20.89	NUM
fsr-3804	198	222	63.43	63.43	NUM
fsr-3804	198	223	13.25	13.25	NUM
fsr-3804	198	224	3.84	3.84	NUM
fsr-3804	198	225	3.40	3.40	NUM
fsr-3804	198	226	27.22	27.22	NUM
fsr-3804	198	227	64.32	64.32	NUM
fsr-3804	198	228	17.18	17.18	NUM
fsr-3804	198	229	5.33	5.33	NUM
fsr-3804	198	230	3.32	3.32	NUM
fsr-3804	198	231	26.97	26.97	NUM
fsr-3804	198	232	63.79	63.79	NUM
fsr-3804	198	233	16.95	16.95	NUM
fsr-3804	198	234	5.33	5.33	NUM
fsr-3804	198	235	12	12	NUM
fsr-3804	198	236	financial	financial	ADJ
fsr-3804	198	237	services	service	NOUN
fsr-3804	198	238	review	review	VERB
fsr-3804	198	239	6(1	6(1	NUM
fsr-3804	198	240	)	)	PUNCT
fsr-3804	198	241	1997	1997	NUM
fsr-3804	198	242	ance	ance	NOUN
fsr-3804	198	243	sheet	sheet	NOUN
fsr-3804	198	244	.	.	PUNCT
fsr-3804	199	1	the	the	DET
fsr-3804	199	2	most	most	ADV
fsr-3804	199	3	significant	significant	ADJ
fsr-3804	199	4	new	new	ADJ
fsr-3804	199	5	insight	insight	NOUN
fsr-3804	199	6	provided	provide	VERB
fsr-3804	199	7	is	be	AUX
fsr-3804	199	8	the	the	DET
fsr-3804	199	9	very	very	ADV
fsr-3804	199	10	positive	positive	ADJ
fsr-3804	199	11	effect	effect	NOUN
fsr-3804	199	12	of	of	ADP
fsr-3804	199	13	a	a	DET
fsr-3804	199	14	decline	decline	NOUN
fsr-3804	199	15	in	in	ADP
fsr-3804	199	16	the	the	DET
fsr-3804	199	17	tax	tax	NOUN
fsr-3804	199	18	rate	rate	NOUN
fsr-3804	199	19	during	during	ADP
fsr-3804	199	20	this	this	DET
fsr-3804	199	21	period	period	NOUN
fsr-3804	199	22	.	.	PUNCT
fsr-3804	200	1	beyond	beyond	ADP
fsr-3804	200	2	an	an	DET
fsr-3804	200	3	analysis	analysis	NOUN
fsr-3804	200	4	of	of	ADP
fsr-3804	200	5	the	the	DET
fsr-3804	200	6	secular	secular	ADJ
fsr-3804	200	7	trend	trend	NOUN
fsr-3804	200	8	for	for	ADP
fsr-3804	200	9	roe	roe	NOUN
fsr-3804	200	10	and	and	CCONJ
fsr-3804	200	11	its	its	PRON
fsr-3804	200	12	components	component	NOUN
fsr-3804	200	13	,	,	PUNCT
fsr-3804	200	14	because	because	SCONJ
fsr-3804	200	15	we	we	PRON
fsr-3804	200	16	are	be	AUX
fsr-3804	200	17	interested	interested	ADJ
fsr-3804	200	18	in	in	ADP
fsr-3804	200	19	the	the	DET
fsr-3804	200	20	effect	effect	NOUN
fsr-3804	200	21	of	of	ADP
fsr-3804	200	22	inflation	inflation	NOUN
fsr-3804	200	23	on	on	ADP
fsr-3804	200	24	roe	roe	NOUN
fsr-3804	200	25	,	,	PUNCT
fsr-3804	200	26	growth	growth	NOUN
fsr-3804	200	27	and	and	CCONJ
fsr-3804	200	28	the	the	DET
fsr-3804	200	29	rate	rate	NOUN
fsr-3804	200	30	of	of	ADP
fsr-3804	200	31	return	return	NOUN
fsr-3804	200	32	on	on	ADP
fsr-3804	200	33	common	common	ADJ
fsr-3804	200	34	stock	stock	NOUN
fsr-3804	200	35	,	,	PUNCT
fsr-3804	200	36	it	it	PRON
fsr-3804	200	37	is	be	AUX
fsr-3804	200	38	important	important	ADJ
fsr-3804	200	39	to	to	PART
fsr-3804	200	40	analyze	analyze	VERB
fsr-3804	200	41	the	the	DET
fsr-3804	200	42	specific	specific	ADJ
fsr-3804	200	43	relationship	relationship	NOUN
fsr-3804	200	44	of	of	ADP
fsr-3804	200	45	inflation	inflation	NOUN
fsr-3804	200	46	to	to	ADP
fsr-3804	200	47	stock	stock	NOUN
fsr-3804	200	48	returns	return	NOUN
fsr-3804	200	49	,	,	PUNCT
fsr-3804	200	50	roe	roe	NOUN
fsr-3804	200	51	and	and	CCONJ
fsr-3804	200	52	the	the	DET
fsr-3804	200	53	components	component	NOUN
fsr-3804	200	54	of	of	ADP
fsr-3804	200	55	roe	roe	PROPN
fsr-3804	200	56	.	.	PUNCT
fsr-3804	201	1	v.	v.	ADP
fsr-3804	201	2	the	the	DET
fsr-3804	201	3	relationship	relationship	NOUN
fsr-3804	201	4	among	among	ADP
fsr-3804	201	5	inflation	inflation	NOUN
fsr-3804	201	6	,	,	PUNCT
fsr-3804	201	7	stock	stock	NOUN
fsr-3804	201	8	returns	return	NOUN
fsr-3804	201	9	,	,	PUNCT
fsr-3804	201	10	roe	roe	NOUN
fsr-3804	201	11	and	and	CCONJ
fsr-3804	201	12	its	its	PRON
fsr-3804	201	13	components	component	NOUN
fsr-3804	201	14	table	table	NOUN
fsr-3804	201	15	3	3	NUM
fsr-3804	201	16	contains	contain	VERB
fsr-3804	201	17	the	the	DET
fsr-3804	201	18	correlation	correlation	NOUN
fsr-3804	201	19	matrix	matrix	NOUN
fsr-3804	201	20	among	among	ADP
fsr-3804	201	21	inflation	inflation	NOUN
fsr-3804	201	22	,	,	PUNCT
fsr-3804	201	23	common	common	ADJ
fsr-3804	201	24	stock	stock	NOUN
fsr-3804	201	25	returns	return	NOUN
fsr-3804	201	26	,	,	PUNCT
fsr-3804	201	27	roe	roe	NOUN
fsr-3804	201	28	,	,	PUNCT
fsr-3804	201	29	and	and	CCONJ
fsr-3804	201	30	the	the	DET
fsr-3804	201	31	components	component	NOUN
fsr-3804	201	32	of	of	ADP
fsr-3804	201	33	roe	roe	PROPN
fsr-3804	201	34	for	for	ADP
fsr-3804	201	35	the	the	DET
fsr-3804	201	36	40	40	NUM
fsr-3804	201	37	year	year	NOUN
fsr-3804	201	38	period	period	NOUN
fsr-3804	201	39	1956	1956	NUM
fsr-3804	201	40	-	-	SYM
fsr-3804	201	41	1995	1995	NUM
fsr-3804	201	42	.	.	PUNCT
fsr-3804	202	1	the	the	DET
fsr-3804	202	2	correlations	correlation	NOUN
fsr-3804	202	3	among	among	ADP
fsr-3804	202	4	infla	infla	PROPN
fsr-3804	202	5	tion	tion	NOUN
fsr-3804	202	6	and	and	CCONJ
fsr-3804	202	7	the	the	DET
fsr-3804	202	8	other	other	ADJ
fsr-3804	202	9	variables	variable	NOUN
fsr-3804	202	10	for	for	ADP
fsr-3804	202	11	the	the	DET
fsr-3804	202	12	period	period	NOUN
fsr-3804	202	13	1956	1956	NUM
fsr-3804	202	14	-	-	SYM
fsr-3804	202	15	1995	1995	NUM
fsr-3804	202	16	provide	provide	VERB
fsr-3804	202	17	results	result	NOUN
fsr-3804	202	18	generally	generally	ADV
fsr-3804	202	19	consistent	consistent	ADJ
fsr-3804	202	20	with	with	ADP
fsr-3804	202	21	past	past	ADJ
fsr-3804	202	22	results	result	NOUN
fsr-3804	202	23	.	.	PUNCT
fsr-3804	203	1	the	the	DET
fsr-3804	203	2	negative	negative	ADJ
fsr-3804	203	3	relationship	relationship	NOUN
fsr-3804	203	4	(	(	PUNCT
fsr-3804	203	5	-0.24	-0.24	NOUN
fsr-3804	203	6	)	)	PUNCT
fsr-3804	203	7	between	between	ADP
fsr-3804	203	8	inflation	inflation	NOUN
fsr-3804	203	9	and	and	CCONJ
fsr-3804	203	10	stock	stock	NOUN
fsr-3804	203	11	returns	return	NOUN
fsr-3804	203	12	is	be	AUX
fsr-3804	203	13	very	very	ADV
fsr-3804	203	14	consistent	consistent	ADJ
fsr-3804	203	15	with	with	ADP
fsr-3804	203	16	almost	almost	ADV
fsr-3804	203	17	all	all	PRON
fsr-3804	203	18	prior	prior	ADJ
fsr-3804	203	19	studies	study	NOUN
fsr-3804	203	20	(	(	PUNCT
fsr-3804	203	21	jaffe	jaffe	PROPN
fsr-3804	203	22	&	&	CCONJ
fsr-3804	203	23	mandelker	mandelker	PROPN
fsr-3804	203	24	,	,	PUNCT
fsr-3804	203	25	1976	1976	NUM
fsr-3804	203	26	;	;	PUNCT
fsr-3804	203	27	fama	fama	NOUN
fsr-3804	203	28	,	,	PUNCT
fsr-3804	203	29	1981	1981	NUM
fsr-3804	203	30	)	)	PUNCT
fsr-3804	203	31	which	which	PRON
fsr-3804	203	32	imply	imply	VERB
fsr-3804	203	33	that	that	SCONJ
fsr-3804	203	34	common	common	ADJ
fsr-3804	203	35	stock	stock	NOUN
fsr-3804	203	36	have	have	AUX
fsr-3804	203	37	been	be	AUX
fsr-3804	203	38	a	a	DET
fsr-3804	203	39	poor	poor	ADJ
fsr-3804	203	40	inflation	inflation	NOUN
fsr-3804	203	41	hedge	hedge	NOUN
fsr-3804	203	42	.	.	PUNCT
fsr-3804	204	1	the	the	DET
fsr-3804	204	2	positive	positive	ADJ
fsr-3804	204	3	correlation	correlation	NOUN
fsr-3804	204	4	between	between	ADP
fsr-3804	204	5	inflation	inflation	NOUN
fsr-3804	204	6	and	and	CCONJ
fsr-3804	204	7	tat	tat	NOUN
fsr-3804	204	8	is	be	AUX
fsr-3804	204	9	consistent	consistent	ADJ
fsr-3804	204	10	with	with	ADP
fsr-3804	204	11	the	the	DET
fsr-3804	204	12	earlier	early	ADJ
fsr-3804	204	13	discussion	discussion	NOUN
fsr-3804	204	14	of	of	ADP
fsr-3804	204	15	a	a	DET
fsr-3804	204	16	positive	positive	ADJ
fsr-3804	204	17	bias	bias	NOUN
fsr-3804	204	18	because	because	SCONJ
fsr-3804	204	19	sales	sale	NOUN
fsr-3804	204	20	are	be	AUX
fsr-3804	204	21	impacted	impact	VERB
fsr-3804	204	22	by	by	ADP
fsr-3804	204	23	inflation	inflation	NOUN
fsr-3804	204	24	,	,	PUNCT
fsr-3804	204	25	while	while	SCONJ
fsr-3804	204	26	the	the	DET
fsr-3804	204	27	historical	historical	ADJ
fsr-3804	204	28	cost	cost	NOUN
fsr-3804	204	29	of	of	ADP
fsr-3804	204	30	assets	asset	NOUN
fsr-3804	204	31	are	be	AUX
fsr-3804	204	32	not	not	PART
fsr-3804	204	33	.	.	PUNCT
fsr-3804	205	1	the	the	DET
fsr-3804	205	2	negative	negative	ADJ
fsr-3804	205	3	correlation	correlation	NOUN
fsr-3804	205	4	between	between	ADP
fsr-3804	205	5	inflation	inflation	NOUN
fsr-3804	205	6	and	and	CCONJ
fsr-3804	205	7	the	the	DET
fsr-3804	205	8	pm	pm	NOUN
fsr-3804	205	9	is	be	AUX
fsr-3804	205	10	consistent	consistent	ADJ
fsr-3804	205	11	with	with	ADP
fsr-3804	205	12	past	past	ADJ
fsr-3804	205	13	results	result	NOUN
fsr-3804	205	14	,	,	PUNCT
fsr-3804	205	15	even	even	ADV
fsr-3804	205	16	though	though	SCONJ
fsr-3804	205	17	there	there	PRON
fsr-3804	205	18	is	be	VERB
fsr-3804	205	19	a	a	DET
fsr-3804	205	20	tendency	tendency	NOUN
fsr-3804	205	21	toward	toward	ADP
fsr-3804	205	22	positive	positive	ADJ
fsr-3804	205	23	results	result	NOUN
fsr-3804	205	24	.	.	PUNCT
fsr-3804	206	1	these	these	DET
fsr-3804	206	2	results	result	NOUN
fsr-3804	206	3	imply	imply	VERB
fsr-3804	206	4	that	that	SCONJ
fsr-3804	206	5	fn'ms	fn'ms	NOUN
fsr-3804	206	6	are	be	AUX
fsr-3804	206	7	typi	typi	NOUN
fsr-3804	206	8	cally	cally	ADV
fsr-3804	206	9	not	not	PART
fsr-3804	206	10	able	able	ADJ
fsr-3804	206	11	to	to	PART
fsr-3804	206	12	pass	pass	VERB
fsr-3804	206	13	cost	cost	NOUN
fsr-3804	206	14	increases	increase	NOUN
fsr-3804	206	15	along	along	ADP
fsr-3804	206	16	to	to	ADP
fsr-3804	206	17	customers	customer	NOUN
fsr-3804	206	18	.	.	PUNCT
fsr-3804	207	1	leverage	leverage	NOUN
fsr-3804	207	2	has	have	VERB
fsr-3804	207	3	almost	almost	ADV
fsr-3804	207	4	no	no	DET
fsr-3804	207	5	correla	correla	NOUN
fsr-3804	207	6	tion	tion	NOUN
fsr-3804	207	7	with	with	ADP
fsr-3804	207	8	inflation	inflation	NOUN
fsr-3804	207	9	because	because	SCONJ
fsr-3804	207	10	it	it	PRON
fsr-3804	207	11	displayed	display	VERB
fsr-3804	207	12	a	a	DET
fsr-3804	207	13	constant	constant	ADJ
fsr-3804	207	14	increase	increase	NOUN
fsr-3804	207	15	doing	do	VERB
fsr-3804	207	16	a	a	DET
fsr-3804	207	17	period	period	NOUN
fsr-3804	207	18	when	when	SCONJ
fsr-3804	207	19	inflation	inflation	NOUN
fsr-3804	207	20	was	be	AUX
fsr-3804	207	21	fairly	fairly	ADV
fsr-3804	207	22	volatile	volatile	ADJ
fsr-3804	207	23	,	,	PUNCT
fsr-3804	207	24	the	the	DET
fsr-3804	207	25	relationship	relationship	NOUN
fsr-3804	207	26	between	between	ADP
fsr-3804	207	27	inflation	inflation	NOUN
fsr-3804	207	28	and	and	CCONJ
fsr-3804	207	29	roa	roa	NOUN
fsr-3804	207	30	was	be	AUX
fsr-3804	207	31	also	also	ADV
fsr-3804	207	32	very	very	ADV
fsr-3804	207	33	small	small	ADJ
fsr-3804	207	34	reflecting	reflect	VERB
fsr-3804	207	35	the	the	DET
fsr-3804	207	36	positive	positive	ADJ
fsr-3804	207	37	relationship	relationship	NOUN
fsr-3804	207	38	with	with	ADP
fsr-3804	207	39	tat	tat	NOUN
fsr-3804	207	40	and	and	CCONJ
fsr-3804	207	41	the	the	DET
fsr-3804	207	42	negative	negative	ADJ
fsr-3804	207	43	correlation	correlation	NOUN
fsr-3804	207	44	with	with	ADP
fsr-3804	207	45	pm	pm	NOUN
fsr-3804	207	46	.	.	PUNCT
fsr-3804	208	1	the	the	DET
fsr-3804	208	2	significant	significant	ADJ
fsr-3804	208	3	positive	positive	ADJ
fsr-3804	208	4	correlation	correlation	NOUN
fsr-3804	208	5	between	between	ADP
fsr-3804	208	6	inflation	inflation	NOUN
fsr-3804	208	7	and	and	CCONJ
fsr-3804	208	8	roe	roe	NOUN
fsr-3804	208	9	is	be	AUX
fsr-3804	208	10	somewhat	somewhat	ADV
fsr-3804	208	11	surprising	surprising	ADJ
fsr-3804	208	12	because	because	SCONJ
fsr-3804	208	13	of	of	ADP
fsr-3804	208	14	the	the	DET
fsr-3804	208	15	mixed	mixed	ADJ
fsr-3804	208	16	results	result	NOUN
fsr-3804	208	17	with	with	ADP
fsr-3804	208	18	the	the	DET
fsr-3804	208	19	components	component	NOUN
fsr-3804	208	20	.	.	PUNCT
fsr-3804	209	1	66	66	NUM
fsr-3804	209	2	~	~	PUNCT
fsr-3804	209	3	r	r	NOUN
fsr-3804	209	4	66	66	NUM
fsr-3804	209	5	64	64	NUM
fsr-3804	209	6	62	62	NUM
fsr-3804	209	7	ill	ill	ADJ
fsr-3804	209	8	i	i	PRON
fsr-3804	209	9	.	.	PUNCT
fsr-3804	210	1	z	z	VERB
fsr-3804	210	2	m	m	VERB
fsr-3804	211	1	lu	lu	VERB
fsr-3804	212	1	i	i	PRON
fsr-3804	212	2	'	'	PUNCT
fsr-3804	212	3	56	56	NUM
fsr-3804	213	1	i	i	NOUN
fsr-3804	213	2	z	z	VERB
fsr-3804	213	3	u	u	VERB
fsr-3804	213	4	u	u	NOUN
fsr-3804	213	5	j	j	PROPN
fsr-3804	213	6	4	4	NUM
fsr-3804	213	7	:	:	PUNCT
fsr-3804	213	8	!	!	PUNCT
fsr-3804	214	1	s4	s4	PROPN
fsr-3804	214	2	ijj	ijj	PROPN
fsr-3804	214	3	iv	iv	PROPN
fsr-3804	214	4	"	"	PUNCT
fsr-3804	214	5	s2	s2	NOUN
fsr-3804	214	6	50	50	NUM
fsr-3804	214	7	years	year	NOUN
fsr-3804	214	8	t	t	X
fsr-3804	214	9	a	a	DET
fsr-3804	214	10	x	x	NOUN
fsr-3804	214	11	figure	figure	NOUN
fsr-3804	214	12	11	11	NUM
fsr-3804	214	13	.	.	PUNCT
fsr-3804	214	14	time	time	PROPN
fsr-3804	214	15	series	series	PROPN
fsr-3804	214	16	plot	plot	NOUN
fsr-3804	214	17	of	of	ADP
fsr-3804	214	18	1	1	NUM
fsr-3804	214	19	~	~	PUNCT
fsr-3804	214	20	for	for	ADP
fsr-3804	214	21	s&p	s&p	PROPN
fsr-3804	214	22	400	400	NUM
fsr-3804	214	23	:	:	PUNCT
fsr-3804	214	24	1977	1977	NUM
fsr-3804	214	25	-	-	SYM
fsr-3804	214	26	1995	1995	NUM
fsr-3804	214	27	.	.	PUNCT
fsr-3804	215	1	64	64	NUM
fsr-3804	215	2	62	62	NUM
fsr-3804	215	3	60	60	NUM
fsr-3804	215	4	s8	s8	VERB
fsr-3804	215	5	56	56	NUM
fsr-3804	215	6	54	54	NUM
fsr-3804	215	7	52	52	NUM
fsr-3804	215	8	50	50	NUM
fsr-3804	215	9	the	the	DET
fsr-3804	215	10	impact	impact	NOUN
fsr-3804	215	11	of	of	ADP
fsr-3804	215	12	inflation	inflation	NOUN
fsr-3804	215	13	13	13	NUM
fsr-3804	215	14	table	table	NOUN
fsr-3804	215	15	3	3	NUM
fsr-3804	215	16	correlation	correlation	NOUN
fsr-3804	215	17	matrix	matrix	NOUN
fsr-3804	215	18	of	of	ADP
fsr-3804	215	19	inflation	inflation	NOUN
fsr-3804	215	20	,	,	PUNCT
fsr-3804	215	21	equity	equity	NOUN
fsr-3804	215	22	rates	rate	NOUN
fsr-3804	215	23	of	of	ADP
fsr-3804	215	24	return	return	NOUN
fsr-3804	215	25	and	and	CCONJ
fsr-3804	215	26	components	component	NOUN
fsr-3804	215	27	of	of	ADP
fsr-3804	215	28	the	the	DET
fsr-3804	215	29	return	return	NOUN
fsr-3804	215	30	on	on	ADP
fsr-3804	215	31	equity	equity	NOUN
fsr-3804	215	32	inflation	inflation	NOUN
fsr-3804	215	33	stock	stock	NOUN
fsr-3804	215	34	trt	trt	PROPN
fsr-3804	215	35	*	*	PUNCT
fsr-3804	215	36	tat	tat	PROPN
fsr-3804	215	37	pm	pm	NOUN
fsr-3804	215	38	lev	lev	PROPN
fsr-3804	215	39	roa	roa	PROPN
fsr-3804	215	40	roe	roe	PROPN
fsr-3804	215	41	a.	a.	PROPN
fsr-3804	215	42	annual	annual	ADJ
fsr-3804	215	43	1956	1956	NUM
fsr-3804	215	44	-	-	SYM
fsr-3804	215	45	1995	1995	NUM
fsr-3804	215	46	inflation	inflation	NOUN
fsr-3804	215	47	j	j	PROPN
fsr-3804	215	48	stock	stock	PROPN
fsr-3804	215	49	-0.24	-0.24	ADJ
fsr-3804	215	50	trt	trt	PROPN
fsr-3804	215	51	*	*	PUNCT
fsr-3804	215	52	tat	tat	NOUN
fsr-3804	215	53	0.47	0.47	NUM
fsr-3804	215	54	-0.19	-0.19	NOUN
fsr-3804	215	55	pm	pm	NOUN
fsr-3804	215	56	-0.10	-0.10	NUM
fsr-3804	215	57	-0.26	-0.26	NOUN
fsr-3804	215	58	0.37	0.37	NUM
fsr-3804	215	59	lev	lev	NOUN
fsr-3804	215	60	0.06	0.06	NUM
fsr-3804	215	61	0.15	0.15	NUM
fsr-3804	215	62	-0.69	-0.69	NOUN
fsr-3804	215	63	roa	roa	PROPN
fsr-3804	215	64	0.13	0.13	NUM
fsr-3804	215	65	-0.29	-0.29	NOUN
fsr-3804	215	66	0.71	0.71	NUM
fsr-3804	215	67	roe	roe	NOUN
fsr-3804	215	68	0.45	0.45	NUM
fsr-3804	215	69	-0.15	-0.15	NUM
fsr-3804	215	70	-0.01	-0.01	NUM
fsr-3804	215	71	m	m	PROPN
fsr-3804	215	72	-0.67	-0.67	PROPN
fsr-3804	215	73	r	r	NOUN
fsr-3804	215	74	0.91	0.91	NUM
fsr-3804	215	75	-0.80	-0.80	NOUN
fsr-3804	215	76	0.19	0.19	NUM
fsr-3804	215	77	0.45	0.45	NUM
fsr-3804	215	78	0.13	0.13	NUM
fsr-3804	215	79	note	note	NOUN
fsr-3804	215	80	:	:	PUNCT
fsr-3804	215	81	*	*	PUNCT
fsr-3804	215	82	total	total	ADJ
fsr-3804	215	83	rate	rate	NOUN
fsr-3804	215	84	of	of	ADP
fsr-3804	215	85	return	return	NOUN
fsr-3804	215	86	on	on	ADP
fsr-3804	215	87	the	the	DET
fsr-3804	215	88	s&p	s&p	PROPN
fsr-3804	215	89	500	500	NUM
fsr-3804	215	90	as	as	SCONJ
fsr-3804	215	91	computed	compute	VERB
fsr-3804	215	92	by	by	ADP
fsr-3804	215	93	ibbotson	ibbotson	PROPN
fsr-3804	215	94	associates	associates	PROPN
fsr-3804	215	95	.	.	PUNCT
fsr-3804	216	1	in	in	ADP
fsr-3804	216	2	summary	summary	NOUN
fsr-3804	216	3	,	,	PUNCT
fsr-3804	216	4	inflation	inflation	NOUN
fsr-3804	216	5	had	have	VERB
fsr-3804	216	6	a	a	DET
fsr-3804	216	7	negative	negative	ADJ
fsr-3804	216	8	relationship	relationship	NOUN
fsr-3804	216	9	with	with	ADP
fsr-3804	216	10	stock	stock	NOUN
fsr-3804	216	11	returns	return	NOUN
fsr-3804	216	12	and	and	CCONJ
fsr-3804	216	13	profit	profit	NOUN
fsr-3804	216	14	margins	margin	NOUN
fsr-3804	216	15	although	although	SCONJ
fsr-3804	216	16	the	the	DET
fsr-3804	216	17	profit	profit	NOUN
fsr-3804	216	18	margin	margin	NOUN
fsr-3804	216	19	had	have	VERB
fsr-3804	216	20	a	a	DET
fsr-3804	216	21	significant	significant	ADJ
fsr-3804	216	22	relationship	relationship	NOUN
fsr-3804	216	23	with	with	ADP
fsr-3804	216	24	roa	roa	PROPN
fsr-3804	216	25	and	and	CCONJ
fsr-3804	216	26	roe	roe	PROPN
fsr-3804	216	27	.	.	PUNCT
fsr-3804	217	1	the	the	DET
fsr-3804	217	2	point	point	NOUN
fsr-3804	217	3	is	be	AUX
fsr-3804	217	4	,	,	PUNCT
fsr-3804	217	5	inflation	inflation	NOUN
fsr-3804	217	6	had	have	VERB
fsr-3804	217	7	a	a	DET
fsr-3804	217	8	negative	negative	ADJ
fsr-3804	217	9	relationship	relationship	NOUN
fsr-3804	217	10	with	with	ADP
fsr-3804	217	11	the	the	DET
fsr-3804	217	12	profit	profit	NOUN
fsr-3804	217	13	margin	margin	NOUN
fsr-3804	217	14	which	which	PRON
fsr-3804	217	15	will	will	AUX
fsr-3804	217	16	,	,	PUNCT
fsr-3804	217	17	in	in	ADP
fsr-3804	217	18	turn	turn	NOUN
fsr-3804	217	19	,	,	PUNCT
fsr-3804	217	20	reduce	reduce	VERB
fsr-3804	217	21	roe	roe	NOUN
fsr-3804	217	22	and	and	CCONJ
fsr-3804	217	23	expected	expect	VERB
fsr-3804	217	24	growth	growth	NOUN
fsr-3804	217	25	.	.	PUNCT
fsr-3804	218	1	this	this	PRON
fsr-3804	218	2	implies	imply	VERB
fsr-3804	218	3	that	that	SCONJ
fsr-3804	218	4	there	there	PRON
fsr-3804	218	5	should	should	AUX
fsr-3804	218	6	be	be	AUX
fsr-3804	218	7	a	a	DET
fsr-3804	218	8	poor	poor	ADJ
fsr-3804	218	9	relationship	relationship	NOUN
fsr-3804	218	10	between	between	ADP
fsr-3804	218	11	inflation	inflation	NOUN
fsr-3804	218	12	and	and	CCONJ
fsr-3804	218	13	expected	expect	VERB
fsr-3804	218	14	growth	growth	NOUN
fsr-3804	218	15	which	which	PRON
fsr-3804	218	16	is	be	AUX
fsr-3804	218	17	examined	examine	VERB
fsr-3804	218	18	in	in	ADP
fsr-3804	218	19	the	the	DET
fsr-3804	218	20	next	next	ADJ
fsr-3804	218	21	section	section	NOUN
fsr-3804	218	22	that	that	PRON
fsr-3804	218	23	considers	consider	VERB
fsr-3804	218	24	periods	period	NOUN
fsr-3804	218	25	of	of	ADP
fsr-3804	218	26	high	high	ADJ
fsr-3804	218	27	and	and	CCONJ
fsr-3804	218	28	low	low	ADJ
fsr-3804	218	29	inflation	inflation	NOUN
fsr-3804	218	30	.	.	PUNCT
fsr-3804	219	1	vi	vi	X
fsr-3804	219	2	.	.	NOUN
fsr-3804	219	3	analysis	analysis	NOUN
fsr-3804	219	4	of	of	ADP
fsr-3804	219	5	high	high	ADJ
fsr-3804	219	6	and	and	CCONJ
fsr-3804	219	7	low	low	ADJ
fsr-3804	219	8	inflation	inflation	NOUN
fsr-3804	219	9	periods	period	NOUN
fsr-3804	219	10	in	in	ADP
fsr-3804	219	11	the	the	DET
fsr-3804	219	12	f&p	f&p	PROPN
fsr-3804	219	13	article	article	NOUN
fsr-3804	219	14	(	(	PUNCT
fsr-3804	219	15	1981	1981	NUM
fsr-3804	219	16	)	)	PUNCT
fsr-3804	219	17	the	the	DET
fsr-3804	219	18	authors	author	NOUN
fsr-3804	219	19	examined	examine	VERB
fsr-3804	219	20	the	the	DET
fsr-3804	219	21	differential	differential	ADJ
fsr-3804	219	22	results	result	NOUN
fsr-3804	219	23	during	during	ADP
fsr-3804	219	24	two	two	NUM
fsr-3804	219	25	sepa	sepa	NOUN
fsr-3804	219	26	rate	rate	NOUN
fsr-3804	219	27	periods	period	NOUN
fsr-3804	219	28	including	include	VERB
fsr-3804	219	29	one	one	NUM
fsr-3804	219	30	of	of	ADP
fsr-3804	219	31	low	low	ADJ
fsr-3804	219	32	inflation	inflation	NOUN
fsr-3804	219	33	(	(	PUNCT
fsr-3804	219	34	1956	1956	NUM
fsr-3804	219	35	-	-	SYM
fsr-3804	219	36	1967	1967	NUM
fsr-3804	219	37	)	)	PUNCT
fsr-3804	219	38	and	and	CCONJ
fsr-3804	219	39	a	a	DET
fsr-3804	219	40	subsequent	subsequent	ADJ
fsr-3804	219	41	period	period	NOUN
fsr-3804	219	42	of	of	ADP
fsr-3804	219	43	high	high	ADJ
fsr-3804	219	44	inflation	inflation	NOUN
fsr-3804	219	45	(	(	PUNCT
fsr-3804	219	46	1968	1968	NUM
fsr-3804	219	47	-	-	SYM
fsr-3804	219	48	1979	1979	NUM
fsr-3804	219	49	)	)	PUNCT
fsr-3804	219	50	and	and	CCONJ
fsr-3804	219	51	showed	show	VERB
fsr-3804	219	52	that	that	SCONJ
fsr-3804	219	53	the	the	DET
fsr-3804	219	54	operating	operating	NOUN
fsr-3804	219	55	and	and	CCONJ
fsr-3804	219	56	stock	stock	NOUN
fsr-3804	219	57	return	return	NOUN
fsr-3804	219	58	results	result	NOUN
fsr-3804	219	59	were	be	AUX
fsr-3804	219	60	very	very	ADV
fsr-3804	219	61	different	different	ADJ
fsr-3804	219	62	.	.	PUNCT
fsr-3804	220	1	this	this	DET
fsr-3804	220	2	analysis	analysis	NOUN
fsr-3804	220	3	can	can	AUX
fsr-3804	220	4	be	be	AUX
fsr-3804	220	5	extended	extend	VERB
fsr-3804	220	6	to	to	ADP
fsr-3804	220	7	the	the	DET
fsr-3804	220	8	recent	recent	ADJ
fsr-3804	220	9	period	period	NOUN
fsr-3804	220	10	by	by	ADP
fsr-3804	220	11	expanding	expand	VERB
fsr-3804	220	12	the	the	DET
fsr-3804	220	13	sec	sec	PROPN
fsr-3804	220	14	ond	ond	ADJ
fsr-3804	220	15	period	period	NOUN
fsr-3804	220	16	to	to	PART
fsr-3804	220	17	include	include	VERB
fsr-3804	220	18	two	two	NUM
fsr-3804	220	19	additional	additional	ADJ
fsr-3804	220	20	years	year	NOUN
fsr-3804	220	21	of	of	ADP
fsr-3804	220	22	high	high	ADJ
fsr-3804	220	23	inflation	inflation	NOUN
fsr-3804	220	24	(	(	PUNCT
fsr-3804	220	25	1968	1968	NUM
fsr-3804	220	26	-	-	SYM
fsr-3804	220	27	1981	1981	NUM
fsr-3804	220	28	)	)	PUNCT
fsr-3804	220	29	and	and	CCONJ
fsr-3804	220	30	by	by	ADP
fsr-3804	220	31	adding	add	VERB
fsr-3804	220	32	the	the	DET
fsr-3804	220	33	recent	recent	ADJ
fsr-3804	220	34	period	period	NOUN
fsr-3804	220	35	of	of	ADP
fsr-3804	220	36	relatively	relatively	ADV
fsr-3804	220	37	low	low	ADJ
fsr-3804	220	38	inflation	inflation	NOUN
fsr-3804	220	39	(	(	PUNCT
fsr-3804	220	40	1982	1982	NUM
fsr-3804	220	41	-	-	SYM
fsr-3804	220	42	1995	1995	NUM
fsr-3804	220	43	)	)	PUNCT
fsr-3804	220	44	.	.	PUNCT
fsr-3804	221	1	figure	figure	NOUN
fsr-3804	221	2	12	12	NUM
fsr-3804	221	3	contains	contain	VERB
fsr-3804	221	4	a	a	DET
fsr-3804	221	5	time	time	NOUN
fsr-3804	221	6	series	series	NOUN
fsr-3804	221	7	plot	plot	NOUN
fsr-3804	221	8	of	of	ADP
fsr-3804	221	9	inflation	inflation	NOUN
fsr-3804	221	10	and	and	CCONJ
fsr-3804	221	11	the	the	DET
fsr-3804	221	12	three	three	NUM
fsr-3804	221	13	periods	period	NOUN
fsr-3804	221	14	are	be	AUX
fsr-3804	221	15	identified	identify	VERB
fsr-3804	221	16	.	.	PUNCT
fsr-3804	222	1	the	the	DET
fsr-3804	222	2	average	average	ADJ
fsr-3804	222	3	results	result	NOUN
fsr-3804	222	4	for	for	ADP
fsr-3804	222	5	the	the	DET
fsr-3804	222	6	series	series	NOUN
fsr-3804	222	7	in	in	ADP
fsr-3804	222	8	table	table	NOUN
fsr-3804	222	9	1	1	NUM
fsr-3804	222	10	during	during	ADP
fsr-3804	222	11	these	these	DET
fsr-3804	222	12	three	three	NUM
fsr-3804	222	13	periods	period	NOUN
fsr-3804	222	14	are	be	AUX
fsr-3804	222	15	in	in	ADP
fsr-3804	222	16	table	table	NOUN
fsr-3804	222	17	4	4	NUM
fsr-3804	222	18	.	.	PUNCT
fsr-3804	223	1	notably	notably	ADV
fsr-3804	223	2	,	,	PUNCT
fsr-3804	223	3	the	the	DET
fsr-3804	223	4	nominal	nominal	ADJ
fsr-3804	223	5	returns	return	NOUN
fsr-3804	223	6	for	for	ADP
fsr-3804	223	7	the	the	DET
fsr-3804	223	8	s&p	s&p	PROPN
fsr-3804	223	9	500	500	NUM
fsr-3804	223	10	are	be	AUX
fsr-3804	223	11	clearly	clearly	ADV
fsr-3804	223	12	higher	high	ADJ
fsr-3804	223	13	during	during	ADP
fsr-3804	223	14	the	the	DET
fsr-3804	223	15	periods	period	NOUN
fsr-3804	223	16	of	of	ADP
fsr-3804	223	17	low	low	ADJ
fsr-3804	223	18	inflation	inflation	NOUN
fsr-3804	223	19	(	(	PUNCT
fsr-3804	223	20	11	11	NUM
fsr-3804	223	21	and	and	CCONJ
fsr-3804	223	22	17	17	NUM
fsr-3804	223	23	per	per	ADP
fsr-3804	223	24	cent	cent	NOUN
fsr-3804	223	25	)	)	PUNCT
fsr-3804	223	26	compared	compare	VERB
fsr-3804	223	27	to	to	ADP
fsr-3804	223	28	the	the	DET
fsr-3804	223	29	high	high	ADJ
fsr-3804	223	30	inflation	inflation	NOUN
fsr-3804	223	31	period	period	NOUN
fsr-3804	223	32	(	(	PUNCT
fsr-3804	223	33	7.5	7.5	NUM
fsr-3804	223	34	percent	percent	NOUN
fsr-3804	223	35	)	)	PUNCT
fsr-3804	223	36	.	.	PUNCT
fsr-3804	224	1	the	the	DET
fsr-3804	224	2	real	real	ADJ
fsr-3804	224	3	difference	difference	NOUN
fsr-3804	224	4	was	be	AUX
fsr-3804	224	5	in	in	ADP
fsr-3804	224	6	inflation	inflation	NOUN
fsr-3804	224	7	-	-	PUNCT
fsr-3804	224	8	adjusted	adjust	VERB
fsr-3804	224	9	returns	return	NOUN
fsr-3804	224	10	where	where	SCONJ
fsr-3804	224	11	the	the	DET
fsr-3804	224	12	returns	return	NOUN
fsr-3804	224	13	on	on	ADP
fsr-3804	224	14	stock	stock	NOUN
fsr-3804	224	15	during	during	ADP
fsr-3804	224	16	the	the	DET
fsr-3804	224	17	period	period	NOUN
fsr-3804	224	18	of	of	ADP
fsr-3804	224	19	high	high	ADJ
fsr-3804	224	20	inflation	inflation	NOUN
fsr-3804	224	21	was	be	AUX
fsr-3804	224	22	basically	basically	ADV
fsr-3804	224	23	zero	zero	NUM
fsr-3804	224	24	compared	compare	VERB
fsr-3804	224	25	to	to	ADP
fsr-3804	224	26	real	real	ADJ
fsr-3804	224	27	returns	return	NOUN
fsr-3804	224	28	of	of	ADP
fsr-3804	224	29	9	9	NUM
fsr-3804	224	30	and	and	CCONJ
fsr-3804	224	31	13	13	NUM
fsr-3804	224	32	percent	percent	NOUN
fsr-3804	224	33	during	during	ADP
fsr-3804	224	34	the	the	DET
fsr-3804	224	35	periods	period	NOUN
fsr-3804	224	36	of	of	ADP
fsr-3804	224	37	low	low	ADJ
fsr-3804	224	38	inflation	inflation	NOUN
fsr-3804	224	39	.	.	PUNCT
fsr-3804	225	1	the	the	DET
fsr-3804	225	2	effect	effect	NOUN
fsr-3804	225	3	on	on	ADP
fsr-3804	225	4	roe	roe	PROPN
fsr-3804	225	5	components	component	NOUN
fsr-3804	225	6	was	be	AUX
fsr-3804	225	7	not	not	PART
fsr-3804	225	8	as	as	ADV
fsr-3804	225	9	significant	significant	ADJ
fsr-3804	225	10	--	--	PUNCT
fsr-3804	225	11	the	the	DET
fsr-3804	225	12	tat	tat	NOUN
fsr-3804	225	13	moved	move	VERB
fsr-3804	225	14	up	up	ADV
fsr-3804	225	15	and	and	CCONJ
fsr-3804	225	16	down	down	ADV
fsr-3804	225	17	with	with	ADP
fsr-3804	225	18	inflation	inflation	NOUN
fsr-3804	225	19	,	,	PUNCT
fsr-3804	225	20	the	the	DET
fsr-3804	225	21	profit	profit	NOUN
fsr-3804	225	22	margin	margin	NOUN
fsr-3804	225	23	declined	decline	VERB
fsr-3804	225	24	during	during	ADP
fsr-3804	225	25	the	the	DET
fsr-3804	225	26	period	period	NOUN
fsr-3804	225	27	of	of	ADP
fsr-3804	225	28	high	high	ADJ
fsr-3804	225	29	infla	infla	NOUN
fsr-3804	225	30	tion	tion	NOUN
fsr-3804	225	31	,	,	PUNCT
fsr-3804	225	32	but	but	CCONJ
fsr-3804	225	33	continued	continue	VERB
fsr-3804	225	34	down	down	ADP
fsr-3804	225	35	during	during	ADP
fsr-3804	225	36	the	the	DET
fsr-3804	225	37	subsequent	subsequent	ADJ
fsr-3804	225	38	period	period	NOUN
fsr-3804	225	39	of	of	ADP
fsr-3804	225	40	low	low	ADJ
fsr-3804	225	41	inflation	inflation	NOUN
fsr-3804	225	42	.	.	PUNCT
fsr-3804	226	1	as	as	ADP
fsr-3804	226	2	a	a	DET
fsr-3804	226	3	result	result	NOUN
fsr-3804	226	4	,	,	PUNCT
fsr-3804	226	5	roa	roa	PROPN
fsr-3804	226	6	showed	show	VERB
fsr-3804	226	7	a	a	DET
fsr-3804	226	8	steady	steady	ADJ
fsr-3804	226	9	decline	decline	NOUN
fsr-3804	226	10	.	.	PUNCT
fsr-3804	227	1	as	as	SCONJ
fsr-3804	227	2	noted	note	VERB
fsr-3804	227	3	earlier	early	ADV
fsr-3804	227	4	,	,	PUNCT
fsr-3804	227	5	the	the	DET
fsr-3804	227	6	leverage	leverage	NOUN
fsr-3804	227	7	ratio	ratio	NOUN
fsr-3804	227	8	increased	increase	VERB
fsr-3804	227	9	steadily	steadily	ADV
fsr-3804	227	10	,	,	PUNCT
fsr-3804	227	11	which	which	PRON
fsr-3804	227	12	drove	drive	VERB
fsr-3804	227	13	the	the	DET
fsr-3804	227	14	roe	roe	NOUN
fsr-3804	227	15	higher	high	ADJ
fsr-3804	227	16	.	.	PUNCT
fsr-3804	228	1	14	14	NUM
fsr-3804	228	2	financial	financial	ADJ
fsr-3804	228	3	services	service	NOUN
fsr-3804	228	4	review	review	VERB
fsr-3804	228	5	6(1	6(1	NUM
fsr-3804	228	6	)	)	PUNCT
fsr-3804	228	7	1997	1997	NUM
fsr-3804	228	8	table	table	NOUN
fsr-3804	228	9	4	4	NUM
fsr-3804	228	10	time	time	NOUN
fsr-3804	228	11	period	period	NOUN
fsr-3804	228	12	averages	average	NOUN
fsr-3804	228	13	for	for	ADP
fsr-3804	228	14	stock	stock	NOUN
fsr-3804	228	15	returns	return	NOUN
fsr-3804	228	16	roe	roe	PROPN
fsr-3804	228	17	components	component	NOUN
fsr-3804	228	18	,	,	PUNCT
fsr-3804	228	19	and	and	CCONJ
fsr-3804	228	20	nominal	nominal	ADJ
fsr-3804	228	21	and	and	CCONJ
fsr-3804	228	22	real	real	ADJ
fsr-3804	228	23	earnings	earning	NOUN
fsr-3804	228	24	growth	growth	NOUN
fsr-3804	228	25	u.s	u.s	PROPN
fsr-3804	228	26	.	.	PROPN
fsr-3804	228	27	/n/7	/n/7	PROPN
fsr-3804	228	28	ad/	ad/	PROPN
fsr-3804	228	29	s	s	PROPN
fsr-3804	228	30	&	&	CCONJ
fsr-3804	228	31	p	p	NOUN
fsr-3804	228	32	%	%	NOUN
fsr-3804	229	1	inflation	inflation	NOUN
fsr-3804	229	2	s&p	s&p	PROPN
fsr-3804	229	3	500	500	NUM
fsr-3804	229	4	annual	annual	ADJ
fsr-3804	229	5	growth	growth	NOUN
fsr-3804	229	6	rate	rate	NOUN
fsr-3804	229	7	total	total	ADJ
fsr-3804	229	8	%	%	NOUN
fsr-3804	229	9	price	price	NOUN
fsr-3804	229	10	%	%	NOUN
fsr-3804	229	11	total	total	ADJ
fsr-3804	229	12	nominal	nominal	ADJ
fsr-3804	229	13	real	real	ADJ
fsr-3804	229	14	return	return	NOUN
fsr-3804	229	15	return	return	NOUN
fsr-3804	229	16	return	return	NOUN
fsr-3804	229	17	tat	tat	NOUN
fsr-3804	229	18	pm	pm	NOUN
fsr-3804	229	19	roa	roa	PROPN
fsr-3804	229	20	lev	lev	PROPN
fsr-3804	229	21	roe	roe	PROPN
fsr-3804	229	22	earnings	earning	NOUN
fsr-3804	229	23	earnings	earning	NOUN
fsr-3804	229	24	1956	1956	NUM
fsr-3804	229	25	-	-	SYM
fsr-3804	229	26	1967	1967	NUM
fsr-3804	229	27	11.28	11.28	NUM
fsr-3804	229	28	1.97	1.97	NUM
fsr-3804	229	29	9.18	9.18	NUM
fsr-3804	229	30	1.18	1.18	NUM
fsr-3804	229	31	6.12	6.12	NUM
fsr-3804	229	32	7.20	7.20	NUM
fsr-3804	229	33	1.59	1.59	NUM
fsr-3804	229	34	11.45	11.45	NUM
fsr-3804	229	35	4.40	4.40	NUM
fsr-3804	229	36	2.46	2.46	NUM
fsr-3804	229	37	(	(	PUNCT
fsr-3804	229	38	12	12	NUM
fsr-3804	229	39	yrs	yr	NOUN
fsr-3804	229	40	)	)	PUNCT
fsr-3804	229	41	1968	1968	NUM
fsr-3804	229	42	-	-	SYM
fsr-3804	229	43	1~81	1~81	NUM
fsr-3804	229	44	(	(	PUNCT
fsr-3804	229	45	14	14	NUM
fsr-3804	229	46	yrs	yr	NOUN
fsr-3804	229	47	)	)	PUNCT
fsr-3804	229	48	7.51	7.51	NUM
fsr-3804	229	49	7.60	7.60	NUM
fsr-3804	229	50	0.08	0.08	NUM
fsr-3804	229	51	1.22	1.22	NUM
fsr-3804	229	52	5.12	5.12	NUM
fsr-3804	229	53	6	6	NUM
fsr-3804	229	54	.	.	NOUN
fsr-3804	229	55	2	2	NUM
fsr-3804	229	56	8	8	NUM
fsr-3804	229	57	2	2	NUM
fsr-3804	229	58	.	.	PUNCT
fsr-3804	229	59	0	0	NUM
fsr-3804	229	60	2	2	NUM
fsr-3804	229	61	12.75	12.75	NUM
fsr-3804	229	62	8.11	8.11	NUM
fsr-3804	229	63	0.52	0.52	NUM
fsr-3804	229	64	1982	1982	NUM
fsr-3804	229	65	-	-	SYM
fsr-3804	229	66	1995	1995	NUM
fsr-3804	229	67	17.01	17.01	NUM
fsr-3804	229	68	3.57	3.57	NUM
fsr-3804	229	69	13.02	13.02	NUM
fsr-3804	229	70	1.04	1.04	NUM
fsr-3804	229	71	436	436	NUM
fsr-3804	229	72	4.52	4.52	NUM
fsr-3804	229	73	2_96	2_96	NUM
fsr-3804	229	74	13.20	13.20	NUM
fsr-3804	229	75	5.34	5.34	NUM
fsr-3804	229	76	1.80	1.80	NUM
fsr-3804	229	77	(	(	PUNCT
fsr-3804	229	78	14	14	NUM
fsr-3804	229	79	)	)	PUNCT
fsr-3804	229	80	yrs	yr	NOUN
fsr-3804	229	81	)	)	PUNCT
fsr-3804	229	82	the	the	DET
fsr-3804	229	83	effect	effect	NOUN
fsr-3804	229	84	of	of	ADP
fsr-3804	229	85	inflation	inflation	NOUN
fsr-3804	229	86	on	on	ADP
fsr-3804	229	87	the	the	DET
fsr-3804	229	88	growth	growth	NOUN
fsr-3804	229	89	rate	rate	NOUN
fsr-3804	229	90	of	of	ADP
fsr-3804	229	91	nominal	nominal	ADJ
fsr-3804	229	92	earnings	earning	NOUN
fsr-3804	229	93	showed	show	VERB
fsr-3804	229	94	a	a	DET
fsr-3804	229	95	positive	positive	ADJ
fsr-3804	229	96	impact	impact	NOUN
fsr-3804	229	97	going	go	VERB
fsr-3804	229	98	from	from	ADP
fsr-3804	229	99	about	about	ADV
fsr-3804	229	100	5	5	NUM
fsr-3804	229	101	percent	percent	NOUN
fsr-3804	229	102	in	in	ADP
fsr-3804	229	103	1958	1958	NUM
fsr-3804	229	104	-	-	SYM
fsr-3804	229	105	1967	1967	NUM
fsr-3804	229	106	to	to	ADP
fsr-3804	229	107	almost	almost	ADV
fsr-3804	229	108	9	9	NUM
fsr-3804	229	109	percent	percent	NOUN
fsr-3804	229	110	in	in	ADP
fsr-3804	229	111	1968	1968	NUM
fsr-3804	229	112	-	-	SYM
fsr-3804	229	113	1981	1981	NUM
fsr-3804	229	114	,	,	PUNCT
fsr-3804	229	115	and	and	CCONJ
fsr-3804	229	116	down	down	ADP
fsr-3804	229	117	to	to	ADP
fsr-3804	229	118	about	about	ADV
fsr-3804	229	119	5	5	NUM
fsr-3804	229	120	percent	percent	NOUN
fsr-3804	229	121	in	in	ADP
fsr-3804	229	122	1982	1982	NUM
fsr-3804	229	123	-	-	SYM
fsr-3804	229	124	1995	1995	NUM
fsr-3804	229	125	.	.	PUNCT
fsr-3804	230	1	notably	notably	ADV
fsr-3804	230	2	,	,	PUNCT
fsr-3804	230	3	there	there	PRON
fsr-3804	230	4	was	be	VERB
fsr-3804	230	5	a	a	DET
fsr-3804	230	6	higher	high	ADJ
fsr-3804	230	7	rate	rate	NOUN
fsr-3804	230	8	of	of	ADP
fsr-3804	230	9	growth	growth	NOUN
fsr-3804	230	10	for	for	ADP
fsr-3804	230	11	real	real	ADJ
fsr-3804	230	12	earnings	earning	NOUN
fsr-3804	230	13	during	during	ADP
fsr-3804	230	14	the	the	DET
fsr-3804	230	15	periods	period	NOUN
fsr-3804	230	16	of	of	ADP
fsr-3804	230	17	low	low	ADJ
fsr-3804	230	18	inflation	inflation	NOUN
fsr-3804	230	19	,	,	PUNCT
fsr-3804	230	20	that	that	ADV
fsr-3804	230	21	is	is	ADV
fsr-3804	230	22	,	,	PUNCT
fsr-3804	230	23	about	about	ADV
fsr-3804	230	24	3	3	NUM
fsr-3804	230	25	percent	percent	NOUN
fsr-3804	230	26	growth	growth	NOUN
fsr-3804	230	27	during	during	ADP
fsr-3804	230	28	the	the	DET
fsr-3804	230	29	peri	peri	ADJ
fsr-3804	230	30	ods	od	NOUN
fsr-3804	230	31	of	of	ADP
fsr-3804	230	32	low	low	ADJ
fsr-3804	230	33	inflation	inflation	NOUN
fsr-3804	230	34	versus	versus	ADP
fsr-3804	230	35	1	1	NUM
fsr-3804	230	36	percent	percent	NOUN
fsr-3804	230	37	growth	growth	NOUN
fsr-3804	230	38	during	during	ADP
fsr-3804	230	39	the	the	DET
fsr-3804	230	40	high	high	ADJ
fsr-3804	230	41	inflation	inflation	NOUN
fsr-3804	230	42	period	period	NOUN
fsr-3804	230	43	.	.	PUNCT
fsr-3804	231	1	a	a	DET
fsr-3804	231	2	)	)	PUNCT
fsr-3804	231	3	inflation	inflation	NOUN
fsr-3804	231	4	and	and	CCONJ
fsr-3804	231	5	growth	growth	NOUN
fsr-3804	231	6	the	the	DET
fsr-3804	231	7	results	result	NOUN
fsr-3804	231	8	in	in	ADP
fsr-3804	231	9	tables	table	NOUN
fsr-3804	231	10	3	3	NUM
fsr-3804	231	11	and	and	CCONJ
fsr-3804	231	12	4	4	NUM
fsr-3804	231	13	clearly	clearly	ADV
fsr-3804	231	14	indicate	indicate	VERB
fsr-3804	231	15	that	that	SCONJ
fsr-3804	231	16	the	the	DET
fsr-3804	231	17	ultimate	ultimate	ADJ
fsr-3804	231	18	effect	effect	NOUN
fsr-3804	231	19	of	of	ADP
fsr-3804	231	20	inflation	inflation	NOUN
fsr-3804	231	21	on	on	ADP
fsr-3804	231	22	stock	stock	NOUN
fsr-3804	231	23	returns	return	NOUN
fsr-3804	231	24	is	be	AUX
fsr-3804	231	25	negative	negative	ADJ
fsr-3804	231	26	.	.	PUNCT
fsr-3804	232	1	we	we	PRON
fsr-3804	232	2	expected	expect	VERB
fsr-3804	232	3	this	this	PRON
fsr-3804	232	4	because	because	SCONJ
fsr-3804	232	5	we	we	PRON
fsr-3804	232	6	envisioned	envision	VERB
fsr-3804	232	7	using	use	VERB
fsr-3804	232	8	the	the	DET
fsr-3804	232	9	ddm	ddm	NOUN
fsr-3804	232	10	that	that	SCONJ
fsr-3804	232	11	the	the	DET
fsr-3804	232	12	14.0	14.0	NUM
fsr-3804	232	13	14.o	14.o	NUM
fsr-3804	232	14	12.0	12.0	NUM
fsr-3804	232	15	10.0	10.0	NUM
fsr-3804	232	16	~.	~.	NOUN
fsr-3804	232	17	8.0	8.0	NUM
fsr-3804	232	18	.•	.•	PROPN
fsr-3804	232	19	$	$	SYM
fsr-3804	232	20	.0	.0	NUM
fsr-3804	232	21	m	m	NOUN
fsr-3804	232	22	.4.0	.4.0	PUNCT
fsr-3804	233	1	2.o	2.o	NUM
fsr-3804	233	2	f	f	X
fsr-3804	233	3	j.i	j.i	X
fsr-3804	233	4	low	low	ADJ
fsr-3804	233	5	inflation	inflation	NOUN
fsr-3804	233	6	+	+	CCONJ
fsr-3804	234	1	*	*	PUNCT
fsr-3804	235	1	*	*	PUNCT
fsr-3804	235	2	*	*	PUNCT
fsr-3804	236	1	+	+	NUM
fsr-3804	236	2	l	l	NOUN
fsr-3804	236	3	o	o	X
fsr-3804	236	4	w	w	NOUN
fsr-3804	236	5	inflation	inflation	NOUN
fsr-3804	236	6	-~--	-~--	PROPN
fsr-3804	236	7	*	*	PUNCT
fsr-3804	236	8	--	--	PUNCT
fsr-3804	236	9	*	*	SYM
fsr-3804	236	10	v	v	NOUN
fsr-3804	236	11	"	"	PUNCT
fsr-3804	236	12	inflation	inflation	NOUN
fsr-3804	236	13	+	+	X
fsr-3804	237	1	+	+	CCONJ
fsr-3804	237	2	~	~	PUNCT
fsr-3804	237	3	:	:	PUNCT
fsr-3804	237	4	:	:	PUNCT
fsr-3804	237	5	,	,	PUNCT
fsr-3804	237	6	.	.	PUNCT
fsr-3804	238	1	,	,	PUNCT
fsr-3804	238	2	,	,	PUNCT
fsr-3804	238	3	:	:	PUNCT
fsr-3804	238	4	:	:	PUNCT
fsr-3804	238	5	:	:	PUNCT
fsr-3804	238	6	:	:	PUNCT
fsr-3804	238	7	:	:	PUNCT
fsr-3804	238	8	'	'	PUNCT
fsr-3804	238	9	,	,	PUNCT
fsr-3804	238	10	,	,	PUNCT
fsr-3804	238	11	.	.	PUNCT
fsr-3804	238	12	.	.	PUNCT
fsr-3804	238	13	.	.	PUNCT
fsr-3804	238	14	.	.	PUNCT
fsr-3804	238	15	.	.	PUNCT
fsr-3804	238	16	.	.	PUNCT
fsr-3804	238	17	.	.	PUNCT
fsr-3804	238	18	.	.	PUNCT
fsr-3804	238	19	.	.	PUNCT
fsr-3804	238	20	.	.	PUNCT
fsr-3804	238	21	.	.	PUNCT
fsr-3804	239	1	°	°	NUM
fsr-3804	240	1	g	g	NOUN
fsr-3804	240	2	ad	ad	NOUN
fsr-3804	240	3	lid	lid	NOUN
fsr-3804	240	4	~	~	PUNCT
fsr-3804	240	5	~	~	PUNCT
fsr-3804	240	6	y	y	PROPN
fsr-3804	240	7	e	e	PROPN
fsr-3804	240	8	a	a	DET
fsr-3804	240	9	r	r	NOUN
fsr-3804	240	10	s	s	X
fsr-3804	240	11	~	~	PUNCT
fsr-3804	240	12	0	0	NUM
fsr-3804	240	13	.	.	PUNCT
fsr-3804	241	1	*	*	PUNCT
fsr-3804	241	2	,	,	PUNCT
fsr-3804	241	3	,	,	PUNCT
fsr-3804	241	4	|	|	ADV
fsr-3804	241	5	t	t	X
fsr-3804	241	6	t	t	PROPN
fsr-3804	241	7	l	l	NOUN
fsr-3804	241	8	t	t	NOUN
fsr-3804	242	1	|	|	ADV
fsr-3804	242	2	t	t	NOUN
fsr-3804	242	3	l	l	NOUN
fsr-3804	243	1	g	g	PROPN
fsr-3804	243	2	g	g	PROPN
fsr-3804	243	3	g	g	PROPN
fsr-3804	243	4	figure	figure	NOUN
fsr-3804	243	5	12	12	NUM
fsr-3804	243	6	.	.	PUNCT
fsr-3804	244	1	time	time	PROPN
fsr-3804	244	2	series	series	PROPN
fsr-3804	244	3	plot	plot	NOUN
fsr-3804	244	4	of	of	ADP
fsr-3804	244	5	inflation	inflation	NOUN
fsr-3804	244	6	:	:	PUNCT
fsr-3804	244	7	1956	1956	NUM
fsr-3804	244	8	-	-	SYM
fsr-3804	244	9	1995	1995	NUM
fsr-3804	244	10	.	.	PUNCT
fsr-3804	245	1	12.0	12.0	NUM
fsr-3804	245	2	10.0	10.0	NUM
fsr-3804	245	3	8.0	8.0	NUM
fsr-3804	245	4	6.0	6.0	NUM
fsr-3804	245	5	4.0	4.0	NUM
fsr-3804	245	6	2.0	2.0	NUM
fsr-3804	245	7	'	'	NUM
fsr-3804	246	1	0	0	NUM
fsr-3804	246	2	.	.	PUNCT
fsr-3804	246	3	0	0	NUM
fsr-3804	247	1	g	g	NOUN
fsr-3804	247	2	l	l	NOUN
fsr-3804	247	3	l	l	NOUN
fsr-3804	247	4	g	g	PROPN
fsr-3804	247	5	l	l	NOUN
fsr-3804	247	6	l	l	NOUN
fsr-3804	248	1	the	the	DET
fsr-3804	248	2	impact	impact	NOUN
fsr-3804	248	3	of	of	ADP
fsr-3804	248	4	inflation	inflation	NOUN
fsr-3804	248	5	15	15	NUM
fsr-3804	248	6	12.0	12.0	NUM
fsr-3804	248	7	10.0	10.0	NUM
fsr-3804	248	8	8.0	8.0	NUM
fsr-3804	248	9	,	,	PUNCT
fsr-3804	248	10	.	.	PUNCT
fsr-3804	249	1	o	o	NOUN
fsr-3804	250	1	~.1	~.1	NOUN
fsr-3804	250	2	4.0	4.0	NUM
fsr-3804	250	3	2.0	2.0	NUM
fsr-3804	250	4	0.0	0.0	NUM
fsr-3804	250	5	i	i	PRON
fsr-3804	250	6	"	"	PUNCT
fsr-3804	250	7	'	'	PUNCT
fsr-3804	250	8	'	'	PUNCT
fsr-3804	250	9	~	~	PUNCT
fsr-3804	250	10	¢	¢	NOUN
fsr-3804	250	11	'	'	PUNCT
fsr-3804	250	12	~	~	PUNCT
fsr-3804	250	13	~	~	PUNCT
fsr-3804	250	14	~	~	PUNCT
fsr-3804	250	15	~	~	PUNCT
fsr-3804	250	16	°	°	ADP
fsr-3804	250	17	1	1	NUM
fsr-3804	250	18	a	a	PRON
fsr-3804	250	19	i	i	PRON
fsr-3804	250	20	12.0	12.0	NUM
fsr-3804	250	21	ilo.o	ilo.o	PROPN
fsr-3804	250	22	~	~	PUNCT
fsr-3804	250	23	~	~	PUNCT
fsr-3804	250	24	8.0	8.0	NUM
fsr-3804	250	25	,	,	PUNCT
fsr-3804	250	26	$	$	SYM
fsr-3804	250	27	.0	.0	NUM
fsr-3804	250	28	i	i	PRON
fsr-3804	250	29	4.0	4.0	NUM
fsr-3804	250	30	~	~	PUNCT
fsr-3804	250	31	2.o	2.o	NUM
fsr-3804	250	32	0.0	0.0	NUM
fsr-3804	250	33	years	year	NOUN
fsr-3804	250	34	figure	figure	NOUN
fsr-3804	250	35	13	13	NUM
fsr-3804	250	36	.	.	PUNCT
fsr-3804	250	37	time	time	PROPN
fsr-3804	250	38	series	series	PROPN
fsr-3804	250	39	plot	plot	NOUN
fsr-3804	250	40	of	of	ADP
fsr-3804	250	41	4	4	NUM
fsr-3804	250	42	year	year	NOUN
fsr-3804	250	43	moving	move	VERB
fsr-3804	250	44	averages	average	NOUN
fsr-3804	250	45	of	of	ADP
fsr-3804	250	46	inflation	inflation	NOUN
fsr-3804	250	47	and	and	CCONJ
fsr-3804	250	48	implied	imply	VERB
fsr-3804	250	49	growth	growth	NOUN
fsr-3804	250	50	rate	rate	NOUN
fsr-3804	250	51	for	for	ADP
fsr-3804	250	52	s&p	s&p	PROPN
fsr-3804	250	53	400	400	NUM
fsr-3804	250	54	:	:	PUNCT
fsr-3804	250	55	1956	1956	NUM
fsr-3804	250	56	-	-	SYM
fsr-3804	250	57	1995	1995	NUM
fsr-3804	250	58	.	.	PUNCT
fsr-3804	250	59	growth	growth	NOUN
fsr-3804	250	60	rate	rate	NOUN
fsr-3804	250	61	of	of	ADP
fsr-3804	250	62	dividends	dividend	NOUN
fsr-3804	250	63	(	(	PUNCT
fsr-3804	250	64	g	g	NOUN
fsr-3804	250	65	)	)	PUNCT
fsr-3804	250	66	would	would	AUX
fsr-3804	250	67	generally	generally	ADV
fsr-3804	250	68	not	not	PART
fsr-3804	250	69	be	be	AUX
fsr-3804	250	70	able	able	ADJ
fsr-3804	250	71	to	to	PART
fsr-3804	250	72	adjust	adjust	VERB
fsr-3804	250	73	for	for	ADP
fsr-3804	250	74	changes	change	NOUN
fsr-3804	250	75	in	in	ADP
fsr-3804	250	76	the	the	DET
fsr-3804	250	77	required	require	VERB
fsr-3804	250	78	return	return	NOUN
fsr-3804	250	79	(	(	PUNCT
fsr-3804	250	80	k	k	NOUN
fsr-3804	250	81	)	)	PUNCT
fsr-3804	250	82	caused	cause	VERB
fsr-3804	250	83	by	by	ADP
fsr-3804	250	84	changes	change	NOUN
fsr-3804	250	85	in	in	ADP
fsr-3804	250	86	inflation	inflation	NOUN
fsr-3804	250	87	.	.	PUNCT
fsr-3804	251	1	this	this	PRON
fsr-3804	251	2	implies	imply	VERB
fsr-3804	251	3	an	an	DET
fsr-3804	251	4	important	important	ADJ
fsr-3804	251	5	direct	direct	ADJ
fsr-3804	251	6	compar	compar	NOUN
fsr-3804	251	7	ison	ison	NOUN
fsr-3804	251	8	between	between	ADP
fsr-3804	251	9	g	g	PROPN
fsr-3804	251	10	and	and	CCONJ
fsr-3804	251	11	inflation	inflation	NOUN
fsr-3804	251	12	.	.	PUNCT
fsr-3804	252	1	figure	figure	NOUN
fsr-3804	252	2	13	13	NUM
fsr-3804	252	3	contains	contain	VERB
fsr-3804	252	4	such	such	DET
fsr-3804	252	5	a	a	DET
fsr-3804	252	6	comparison	comparison	NOUN
fsr-3804	252	7	between	between	ADP
fsr-3804	252	8	a	a	DET
fsr-3804	252	9	time	time	NOUN
fsr-3804	252	10	series	series	NOUN
fsr-3804	252	11	plot	plot	NOUN
fsr-3804	252	12	of	of	ADP
fsr-3804	252	13	four	four	NUM
fsr-3804	252	14	year	year	NOUN
fsr-3804	252	15	moving	move	VERB
fsr-3804	252	16	averages	average	NOUN
fsr-3804	252	17	for	for	ADP
fsr-3804	252	18	the	the	DET
fsr-3804	252	19	two	two	NUM
fsr-3804	252	20	series	series	NOUN
fsr-3804	252	21	.	.	PUNCT
fsr-3804	253	1	a	a	DET
fsr-3804	253	2	moving	move	VERB
fsr-3804	253	3	average	average	NOUN
fsr-3804	253	4	is	be	AUX
fsr-3804	253	5	used	use	VERB
fsr-3804	253	6	to	to	PART
fsr-3804	253	7	help	help	VERB
fsr-3804	253	8	smooth	smooth	VERB
fsr-3804	253	9	two	two	NUM
fsr-3804	253	10	fairly	fairly	ADV
fsr-3804	253	11	volatile	volatile	ADJ
fsr-3804	253	12	series	series	NOUN
fsr-3804	253	13	,	,	PUNCT
fsr-3804	253	14	with	with	ADP
fsr-3804	253	15	the	the	DET
fsr-3804	253	16	understanding	understanding	NOUN
fsr-3804	253	17	that	that	PRON
fsr-3804	253	18	the	the	DET
fsr-3804	253	19	four	four	NUM
fsr-3804	253	20	year	year	NOUN
fsr-3804	253	21	averages	average	NOUN
fsr-3804	253	22	should	should	AUX
fsr-3804	253	23	be	be	AUX
fsr-3804	253	24	plotted	plot	VERB
fsr-3804	253	25	at	at	ADP
fsr-3804	253	26	its	its	PRON
fsr-3804	253	27	center	center	ADJ
fsr-3804	253	28	point	point	NOUN
fsr-3804	253	29	(	(	PUNCT
fsr-3804	253	30	the	the	DET
fsr-3804	253	31	value	value	NOUN
fsr-3804	253	32	for	for	ADP
fsr-3804	253	33	the	the	DET
fsr-3804	253	34	four	four	NUM
fsr-3804	253	35	year	year	NOUN
fsr-3804	253	36	period	period	NOUN
fsr-3804	253	37	1956	1956	NUM
fsr-3804	253	38	-	-	SYM
fsr-3804	253	39	1959	1959	NUM
fsr-3804	253	40	is	be	AUX
fsr-3804	253	41	recorded	record	VERB
fsr-3804	253	42	at	at	ADP
fsr-3804	253	43	the	the	DET
fsr-3804	253	44	end	end	NOUN
fsr-3804	253	45	of	of	ADP
fsr-3804	253	46	1957	1957	NUM
fsr-3804	253	47	)	)	PUNCT
fsr-3804	253	48	.	.	PUNCT
fsr-3804	254	1	the	the	DET
fsr-3804	254	2	two	two	NUM
fsr-3804	254	3	lines	line	NOUN
fsr-3804	254	4	in	in	ADP
fsr-3804	254	5	figure	figure	NOUN
fsr-3804	254	6	13	13	NUM
fsr-3804	254	7	demonstrate	demonstrate	VERB
fsr-3804	254	8	why	why	SCONJ
fsr-3804	254	9	stocks	stock	NOUN
fsr-3804	254	10	have	have	AUX
fsr-3804	254	11	done	do	VERB
fsr-3804	254	12	so	so	ADV
fsr-3804	254	13	much	much	ADV
fsr-3804	254	14	better	well	ADJ
fsr-3804	254	15	during	during	ADP
fsr-3804	254	16	periods	period	NOUN
fsr-3804	254	17	of	of	ADP
fsr-3804	254	18	low	low	ADJ
fsr-3804	254	19	inflation	inflation	NOUN
fsr-3804	254	20	.	.	PUNCT
fsr-3804	255	1	specifically	specifically	ADV
fsr-3804	255	2	,	,	PUNCT
fsr-3804	255	3	during	during	ADP
fsr-3804	255	4	the	the	DET
fsr-3804	255	5	two	two	NUM
fsr-3804	255	6	periods	period	NOUN
fsr-3804	255	7	of	of	ADP
fsr-3804	255	8	low	low	ADJ
fsr-3804	255	9	inflation	inflation	NOUN
fsr-3804	255	10	that	that	PRON
fsr-3804	255	11	prevailed	prevail	VERB
fsr-3804	255	12	at	at	ADP
fsr-3804	255	13	the	the	DET
fsr-3804	255	14	beginning	beginning	NOUN
fsr-3804	255	15	and	and	CCONJ
fsr-3804	255	16	end	end	NOUN
fsr-3804	255	17	of	of	ADP
fsr-3804	255	18	the	the	DET
fsr-3804	255	19	period	period	NOUN
fsr-3804	255	20	,	,	PUNCT
fsr-3804	255	21	the	the	DET
fsr-3804	255	22	implied	imply	VERB
fsr-3804	255	23	growth	growth	NOUN
fsr-3804	255	24	rate	rate	NOUN
fsr-3804	255	25	(	(	PUNCT
fsr-3804	255	26	equal	equal	ADJ
fsr-3804	255	27	to	to	ADP
fsr-3804	255	28	roe	roe	PROPN
fsr-3804	255	29	times	time	NOUN
fsr-3804	255	30	the	the	DET
fsr-3804	255	31	retention	retention	NOUN
fsr-3804	255	32	rate	rate	NOUN
fsr-3804	255	33	)	)	PUNCT
fsr-3804	255	34	was	be	AUX
fsr-3804	255	35	substantially	substantially	ADV
fsr-3804	255	36	larger	large	ADJ
fsr-3804	255	37	than	than	ADP
fsr-3804	255	38	the	the	DET
fsr-3804	255	39	rate	rate	NOUN
fsr-3804	255	40	of	of	ADP
fsr-3804	255	41	inflation	inflation	NOUN
fsr-3804	255	42	which	which	PRON
fsr-3804	255	43	implies	imply	VERB
fsr-3804	255	44	a	a	DET
fsr-3804	255	45	decline	decline	NOUN
fsr-3804	255	46	in	in	ADP
fsr-3804	255	47	the	the	DET
fsr-3804	255	48	k	k	NOUN
fsr-3804	255	49	-	-	PROPN
fsr-3804	255	50	g	g	NOUN
fsr-3804	255	51	spread	spread	NOUN
fsr-3804	255	52	and	and	CCONJ
fsr-3804	255	53	an	an	DET
fsr-3804	255	54	increase	increase	NOUN
fsr-3804	255	55	in	in	ADP
fsr-3804	255	56	stock	stock	NOUN
fsr-3804	255	57	prices	price	NOUN
fsr-3804	255	58	.	.	PUNCT
fsr-3804	256	1	in	in	ADP
fsr-3804	256	2	contrast	contrast	NOUN
fsr-3804	256	3	,	,	PUNCT
fsr-3804	256	4	during	during	ADP
fsr-3804	256	5	the	the	DET
fsr-3804	256	6	period	period	NOUN
fsr-3804	256	7	of	of	ADP
fsr-3804	256	8	high	high	ADJ
fsr-3804	256	9	infla	infla	NOUN
fsr-3804	256	10	tion	tion	NOUN
fsr-3804	256	11	the	the	DET
fsr-3804	256	12	two	two	NUM
fsr-3804	256	13	rates	rate	NOUN
fsr-3804	256	14	were	be	AUX
fsr-3804	256	15	at	at	ADP
fsr-3804	256	16	best	well	ADV
fsr-3804	256	17	equal	equal	ADJ
fsr-3804	256	18	,	,	PUNCT
fsr-3804	256	19	and	and	CCONJ
fsr-3804	256	20	during	during	ADP
fsr-3804	256	21	several	several	ADJ
fsr-3804	256	22	years	year	NOUN
fsr-3804	256	23	(	(	PUNCT
fsr-3804	256	24	1979	1979	NUM
fsr-3804	256	25	-	-	SYM
fsr-3804	256	26	1983	1983	NUM
fsr-3804	256	27	)	)	PUNCT
fsr-3804	256	28	,	,	PUNCT
fsr-3804	256	29	the	the	DET
fsr-3804	256	30	inflation	inflation	NOUN
fsr-3804	256	31	rate	rate	NOUN
fsr-3804	256	32	exceeded	exceed	VERB
fsr-3804	256	33	the	the	DET
fsr-3804	256	34	growth	growth	NOUN
fsr-3804	256	35	rate	rate	NOUN
fsr-3804	256	36	which	which	PRON
fsr-3804	256	37	implies	imply	VERB
fsr-3804	256	38	an	an	DET
fsr-3804	256	39	increase	increase	NOUN
fsr-3804	256	40	in	in	ADP
fsr-3804	256	41	the	the	DET
fsr-3804	256	42	k	k	NOUN
fsr-3804	256	43	-	-	PUNCT
fsr-3804	256	44	g	g	NOUN
fsr-3804	256	45	spread	spread	NOUN
fsr-3804	256	46	.	.	PUNCT
fsr-3804	257	1	an	an	DET
fsr-3804	257	2	example	example	NOUN
fsr-3804	257	3	of	of	ADP
fsr-3804	257	4	the	the	DET
fsr-3804	257	5	ultimate	ultimate	ADJ
fsr-3804	257	6	positive	positive	ADJ
fsr-3804	257	7	effect	effect	NOUN
fsr-3804	257	8	of	of	ADP
fsr-3804	257	9	low	low	ADJ
fsr-3804	257	10	inflation	inflation	NOUN
fsr-3804	257	11	is	be	AUX
fsr-3804	257	12	1995	1995	NUM
fsr-3804	257	13	when	when	SCONJ
fsr-3804	257	14	the	the	DET
fsr-3804	257	15	aggregate	aggregate	ADJ
fsr-3804	257	16	roe	roe	NOUN
fsr-3804	257	17	and	and	CCONJ
fsr-3804	257	18	the	the	DET
fsr-3804	257	19	implied	imply	VERB
fsr-3804	257	20	growth	growth	NOUN
fsr-3804	257	21	rate	rate	NOUN
fsr-3804	257	22	for	for	ADP
fsr-3804	257	23	the	the	DET
fsr-3804	257	24	s&p	s&p	PROPN
fsr-3804	257	25	400	400	NUM
fsr-3804	257	26	increased	increase	VERB
fsr-3804	257	27	while	while	SCONJ
fsr-3804	257	28	the	the	DET
fsr-3804	257	29	inflation	inflation	NOUN
fsr-3804	257	30	rate	rate	NOUN
fsr-3804	257	31	declined	decline	VERB
fsr-3804	257	32	.	.	PUNCT
fsr-3804	258	1	the	the	DET
fsr-3804	258	2	result	result	NOUN
fsr-3804	258	3	was	be	AUX
fsr-3804	258	4	a	a	DET
fsr-3804	258	5	return	return	NOUN
fsr-3804	258	6	on	on	ADP
fsr-3804	258	7	stocks	stock	NOUN
fsr-3804	258	8	of	of	ADP
fsr-3804	258	9	over	over	ADP
fsr-3804	258	10	37	37	NUM
fsr-3804	258	11	percent	percent	NOUN
fsr-3804	258	12	.	.	PUNCT
fsr-3804	259	1	vii	vii	PROPN
fsr-3804	259	2	.	.	PROPN
fsr-3804	259	3	summary	summary	NOUN
fsr-3804	259	4	and	and	CCONJ
fsr-3804	259	5	conclusion	conclusion	VERB
fsr-3804	259	6	the	the	DET
fsr-3804	259	7	purpose	purpose	NOUN
fsr-3804	259	8	of	of	ADP
fsr-3804	259	9	this	this	DET
fsr-3804	259	10	paper	paper	NOUN
fsr-3804	259	11	is	be	AUX
fsr-3804	259	12	to	to	PART
fsr-3804	259	13	extend	extend	VERB
fsr-3804	259	14	and	and	CCONJ
fsr-3804	259	15	expand	expand	VERB
fsr-3804	259	16	the	the	DET
fsr-3804	259	17	analysis	analysis	NOUN
fsr-3804	259	18	of	of	ADP
fsr-3804	259	19	the	the	DET
fsr-3804	259	20	relationship	relationship	NOUN
fsr-3804	259	21	between	between	ADP
fsr-3804	259	22	inflation	inflation	NOUN
fsr-3804	259	23	and	and	CCONJ
fsr-3804	259	24	stock	stock	NOUN
fsr-3804	259	25	returns	return	NOUN
fsr-3804	259	26	by	by	ADP
fsr-3804	259	27	examining	examine	VERB
fsr-3804	259	28	the	the	DET
fsr-3804	259	29	effect	effect	NOUN
fsr-3804	259	30	of	of	ADP
fsr-3804	259	31	inflation	inflation	NOUN
fsr-3804	259	32	on	on	ADP
fsr-3804	259	33	the	the	DET
fsr-3804	259	34	factors	factor	NOUN
fsr-3804	259	35	that	that	PRON
fsr-3804	259	36	affect	affect	VERB
fsr-3804	259	37	roe	roe	NOUN
fsr-3804	259	38	and	and	CCONJ
fsr-3804	259	39	ultimately	ultimately	ADV
fsr-3804	259	40	the	the	DET
fsr-3804	259	41	growth	growth	NOUN
fsr-3804	259	42	of	of	ADP
fsr-3804	259	43	earnings	earning	NOUN
fsr-3804	259	44	and	and	CCONJ
fsr-3804	259	45	dividends	dividend	NOUN
fsr-3804	259	46	.	.	PUNCT
fsr-3804	260	1	following	follow	VERB
fsr-3804	260	2	a	a	DET
fsr-3804	260	3	brief	brief	ADJ
fsr-3804	260	4	review	review	NOUN
fsr-3804	260	5	of	of	ADP
fsr-3804	260	6	the	the	DET
fsr-3804	260	7	ddm	ddm	PROPN
fsr-3804	260	8	and	and	CCONJ
fsr-3804	260	9	what	what	PRON
fsr-3804	260	10	needs	need	VERB
fsr-3804	260	11	to	to	PART
fsr-3804	260	12	occur	occur	VERB
fsr-3804	260	13	for	for	SCONJ
fsr-3804	260	14	stocks	stock	NOUN
fsr-3804	260	15	to	to	PART
fsr-3804	260	16	be	be	AUX
fsr-3804	260	17	an	an	DET
fsr-3804	260	18	inflation	inflation	NOUN
fsr-3804	260	19	hedge	hedge	NOUN
fsr-3804	260	20	,	,	PUNCT
fsr-3804	260	21	it	it	PRON
fsr-3804	260	22	was	be	AUX
fsr-3804	260	23	demonstrated	demonstrate	VERB
fsr-3804	260	24	that	that	SCONJ
fsr-3804	260	25	the	the	DET
fsr-3804	260	26	critical	critical	ADJ
fsr-3804	260	27	variable	variable	NOUN
fsr-3804	260	28	was	be	AUX
fsr-3804	260	29	what	what	PRON
fsr-3804	260	30	happened	happen	VERB
fsr-3804	260	31	to	to	ADP
fsr-3804	260	32	roe	roe	PROPN
fsr-3804	260	33	,	,	PUNCT
fsr-3804	260	34	which	which	PRON
fsr-3804	260	35	was	be	AUX
fsr-3804	260	36	determined	determine	VERB
fsr-3804	260	37	by	by	ADP
fsr-3804	260	38	what	what	PRON
fsr-3804	260	39	happened	happen	VERB
fsr-3804	260	40	to	to	ADP
fsr-3804	260	41	the	the	DET
fsr-3804	260	42	dupont	dupont	NOUN
fsr-3804	260	43	components	component	NOUN
fsr-3804	260	44	and	and	CCONJ
fsr-3804	260	45	especially	especially	ADV
fsr-3804	260	46	the	the	DET
fsr-3804	260	47	profit	profit	NOUN
fsr-3804	260	48	margin	margin	NOUN
fsr-3804	260	49	during	during	ADP
fsr-3804	260	50	periods	period	NOUN
fsr-3804	260	51	of	of	ADP
fsr-3804	260	52	inflation	inflation	NOUN
fsr-3804	260	53	.	.	PUNCT
fsr-3804	261	1	an	an	DET
fsr-3804	261	2	analysis	analysis	NOUN
fsr-3804	261	3	of	of	ADP
fsr-3804	261	4	the	the	DET
fsr-3804	261	5	secular	secular	ADJ
fsr-3804	261	6	trend	trend	NOUN
fsr-3804	261	7	over	over	ADP
fsr-3804	261	8	40	40	NUM
fsr-3804	261	9	years	year	NOUN
fsr-3804	261	10	showed	show	VERB
fsr-3804	261	11	an	an	DET
fsr-3804	261	12	overall	overall	ADJ
fsr-3804	261	13	decline	decline	NOUN
fsr-3804	261	14	in	in	ADP
fsr-3804	261	15	tat	tat	NOUN
fsr-3804	261	16	and	and	CCONJ
fsr-3804	261	17	the	the	DET
fsr-3804	261	18	pm	pm	NOUN
fsr-3804	261	19	,	,	PUNCT
fsr-3804	261	20	16	16	NUM
fsr-3804	261	21	financial	financial	ADJ
fsr-3804	261	22	services	service	NOUN
fsr-3804	261	23	review	review	VERB
fsr-3804	261	24	6(1	6(1	NUM
fsr-3804	261	25	)	)	PUNCT
fsr-3804	261	26	1997	1997	NUM
fsr-3804	261	27	with	with	ADP
fsr-3804	261	28	a	a	DET
fsr-3804	261	29	secular	secular	ADJ
fsr-3804	261	30	increase	increase	NOUN
fsr-3804	261	31	in	in	ADP
fsr-3804	261	32	the	the	DET
fsr-3804	261	33	financial	financial	ADJ
fsr-3804	261	34	leverage	leverage	NOUN
fsr-3804	261	35	multiplier	multiplier	ADV
fsr-3804	261	36	as	as	ADP
fsr-3804	261	37	an	an	DET
fsr-3804	261	38	offset	offset	NOUN
fsr-3804	261	39	.	.	PUNCT
fsr-3804	262	1	the	the	DET
fsr-3804	262	2	extended	extend	VERB
fsr-3804	262	3	dupont	dupont	NOUN
fsr-3804	262	4	analysis	analysis	NOUN
fsr-3804	262	5	for	for	ADP
fsr-3804	262	6	the	the	DET
fsr-3804	262	7	recent	recent	ADJ
fsr-3804	262	8	period	period	NOUN
fsr-3804	262	9	generally	generally	ADV
fsr-3804	262	10	confirmed	confirm	VERB
fsr-3804	262	11	the	the	DET
fsr-3804	262	12	long	long	ADV
fsr-3804	262	13	-	-	PUNCT
fsr-3804	262	14	run	run	NOUN
fsr-3804	262	15	results	result	NOUN
fsr-3804	262	16	,	,	PUNCT
fsr-3804	262	17	but	but	CCONJ
fsr-3804	262	18	also	also	ADV
fsr-3804	262	19	showed	show	VERB
fsr-3804	262	20	the	the	DET
fsr-3804	262	21	positive	positive	ADJ
fsr-3804	262	22	effect	effect	NOUN
fsr-3804	262	23	of	of	ADP
fsr-3804	262	24	a	a	DET
fsr-3804	262	25	lower	low	ADJ
fsr-3804	262	26	effective	effective	ADJ
fsr-3804	262	27	tax	tax	NOUN
fsr-3804	262	28	rate	rate	NOUN
fsr-3804	262	29	during	during	ADP
fsr-3804	262	30	the	the	DET
fsr-3804	262	31	recent	recent	ADJ
fsr-3804	262	32	10	10	NUM
fsr-3804	262	33	year	year	NOUN
fsr-3804	262	34	period	period	NOUN
fsr-3804	262	35	.	.	PUNCT
fsr-3804	263	1	the	the	DET
fsr-3804	263	2	correlation	correlation	NOUN
fsr-3804	263	3	analysis	analysis	NOUN
fsr-3804	263	4	confirmed	confirm	VERB
fsr-3804	263	5	prior	prior	ADJ
fsr-3804	263	6	results	result	NOUN
fsr-3804	263	7	which	which	PRON
fsr-3804	263	8	showed	show	VERB
fsr-3804	263	9	a	a	DET
fsr-3804	263	10	negative	negative	ADJ
fsr-3804	263	11	relationship	relationship	NOUN
fsr-3804	263	12	between	between	ADP
fsr-3804	263	13	stock	stock	NOUN
fsr-3804	263	14	returns	return	NOUN
fsr-3804	263	15	and	and	CCONJ
fsr-3804	263	16	inflation	inflation	NOUN
fsr-3804	263	17	(	(	PUNCT
fsr-3804	263	18	stocks	stock	NOUN
fsr-3804	263	19	are	be	AUX
fsr-3804	263	20	a	a	DET
fsr-3804	263	21	poor	poor	ADJ
fsr-3804	263	22	inflation	inflation	NOUN
fsr-3804	263	23	hedge	hedge	NOUN
fsr-3804	263	24	)	)	PUNCT
fsr-3804	263	25	and	and	CCONJ
fsr-3804	263	26	between	between	ADP
fsr-3804	263	27	profit	profit	NOUN
fsr-3804	263	28	margins	margin	NOUN
fsr-3804	263	29	and	and	CCONJ
fsr-3804	263	30	inflation	inflation	NOUN
fsr-3804	263	31	which	which	PRON
fsr-3804	263	32	helps	help	VERB
fsr-3804	263	33	explain	explain	VERB
fsr-3804	263	34	the	the	DET
fsr-3804	263	35	stock	stock	NOUN
fsr-3804	263	36	return	return	NOUN
fsr-3804	263	37	results	result	NOUN
fsr-3804	263	38	.	.	PUNCT
fsr-3804	264	1	an	an	DET
fsr-3804	264	2	analysis	analysis	NOUN
fsr-3804	264	3	of	of	ADP
fsr-3804	264	4	stock	stock	NOUN
fsr-3804	264	5	returns	return	NOUN
fsr-3804	264	6	and	and	CCONJ
fsr-3804	264	7	roe	roe	NOUN
fsr-3804	264	8	results	result	NOUN
fsr-3804	264	9	during	during	ADP
fsr-3804	264	10	periods	period	NOUN
fsr-3804	264	11	of	of	ADP
fsr-3804	264	12	relatively	relatively	ADV
fsr-3804	264	13	low	low	ADJ
fsr-3804	264	14	inflation	inflation	NOUN
fsr-3804	264	15	(	(	PUNCT
fsr-3804	264	16	1956	1956	NUM
fsr-3804	264	17	-	-	SYM
fsr-3804	264	18	1967	1967	NUM
fsr-3804	264	19	and	and	CCONJ
fsr-3804	264	20	1982	1982	NUM
fsr-3804	264	21	1995	1995	NUM
fsr-3804	264	22	)	)	PUNCT
fsr-3804	264	23	versus	versus	ADP
fsr-3804	264	24	a	a	DET
fsr-3804	264	25	period	period	NOUN
fsr-3804	264	26	of	of	ADP
fsr-3804	264	27	high	high	ADJ
fsr-3804	264	28	inflation	inflation	NOUN
fsr-3804	264	29	(	(	PUNCT
fsr-3804	264	30	1968	1968	NUM
fsr-3804	264	31	-	-	SYM
fsr-3804	264	32	1981	1981	NUM
fsr-3804	264	33	)	)	PUNCT
fsr-3804	264	34	confirms	confirm	VERB
fsr-3804	264	35	these	these	DET
fsr-3804	264	36	results	result	NOUN
fsr-3804	264	37	because	because	SCONJ
fsr-3804	264	38	real	real	ADJ
fsr-3804	264	39	stock	stock	NOUN
fsr-3804	264	40	returns	return	NOUN
fsr-3804	264	41	were	be	AUX
fsr-3804	264	42	significantly	significantly	ADV
fsr-3804	264	43	higher	high	ADJ
fsr-3804	264	44	during	during	ADP
fsr-3804	264	45	the	the	DET
fsr-3804	264	46	periods	period	NOUN
fsr-3804	264	47	of	of	ADP
fsr-3804	264	48	low	low	ADJ
fsr-3804	264	49	inflation	inflation	NOUN
fsr-3804	264	50	and	and	CCONJ
fsr-3804	264	51	there	there	PRON
fsr-3804	264	52	was	be	VERB
fsr-3804	264	53	clearly	clearly	ADV
fsr-3804	264	54	a	a	DET
fsr-3804	264	55	higher	high	ADJ
fsr-3804	264	56	growth	growth	NOUN
fsr-3804	264	57	rate	rate	NOUN
fsr-3804	264	58	of	of	ADP
fsr-3804	264	59	real	real	ADJ
fsr-3804	264	60	earnings	earning	NOUN
fsr-3804	264	61	during	during	ADP
fsr-3804	264	62	periods	period	NOUN
fsr-3804	264	63	of	of	ADP
fsr-3804	264	64	low	low	ADJ
fsr-3804	264	65	inflation	inflation	NOUN
fsr-3804	264	66	.	.	PUNCT
fsr-3804	265	1	finally	finally	ADV
fsr-3804	265	2	,	,	PUNCT
fsr-3804	265	3	the	the	DET
fsr-3804	265	4	superior	superior	ADJ
fsr-3804	265	5	returns	return	NOUN
fsr-3804	265	6	on	on	ADP
fsr-3804	265	7	stocks	stock	NOUN
fsr-3804	265	8	during	during	ADP
fsr-3804	265	9	periods	period	NOUN
fsr-3804	265	10	of	of	ADP
fsr-3804	265	11	low	low	ADJ
fsr-3804	265	12	inflation	inflation	NOUN
fsr-3804	265	13	can	can	AUX
fsr-3804	265	14	be	be	AUX
fsr-3804	265	15	explained	explain	VERB
fsr-3804	265	16	by	by	ADP
fsr-3804	265	17	the	the	DET
fsr-3804	265	18	direct	direct	ADJ
fsr-3804	265	19	comparison	comparison	NOUN
fsr-3804	265	20	of	of	ADP
fsr-3804	265	21	inflation	inflation	NOUN
fsr-3804	265	22	and	and	CCONJ
fsr-3804	265	23	the	the	DET
fsr-3804	265	24	implied	imply	VERB
fsr-3804	265	25	growth	growth	NOUN
fsr-3804	265	26	rate	rate	NOUN
fsr-3804	265	27	of	of	ADP
fsr-3804	265	28	earnings	earning	NOUN
fsr-3804	265	29	.	.	PUNCT
fsr-3804	266	1	specifically	specifically	ADV
fsr-3804	266	2	,	,	PUNCT
fsr-3804	266	3	during	during	ADP
fsr-3804	266	4	peri	peri	PROPN
fsr-3804	266	5	ods	od	NOUN
fsr-3804	266	6	of	of	ADP
fsr-3804	266	7	low	low	ADJ
fsr-3804	266	8	inflation	inflation	NOUN
fsr-3804	266	9	the	the	DET
fsr-3804	266	10	implied	imply	VERB
fsr-3804	266	11	growth	growth	NOUN
fsr-3804	266	12	rate	rate	NOUN
fsr-3804	266	13	of	of	ADP
fsr-3804	266	14	earnings	earning	NOUN
fsr-3804	266	15	generally	generally	ADV
fsr-3804	266	16	exceeds	exceed	VERB
fsr-3804	266	17	inflation	inflation	NOUN
fsr-3804	266	18	,	,	PUNCT
fsr-3804	266	19	while	while	SCONJ
fsr-3804	266	20	during	during	ADP
fsr-3804	266	21	periods	period	NOUN
fsr-3804	266	22	of	of	ADP
fsr-3804	266	23	high	high	ADJ
fsr-3804	266	24	inflation	inflation	NOUN
fsr-3804	266	25	,	,	PUNCT
fsr-3804	266	26	the	the	DET
fsr-3804	266	27	implied	imply	VERB
fsr-3804	266	28	growth	growth	NOUN
fsr-3804	266	29	rate	rate	NOUN
fsr-3804	266	30	of	of	ADP
fsr-3804	266	31	earnings	earning	NOUN
fsr-3804	266	32	is	be	AUX
fsr-3804	266	33	equal	equal	ADJ
fsr-3804	266	34	to	to	ADP
fsr-3804	266	35	or	or	CCONJ
fsr-3804	266	36	less	less	ADJ
fsr-3804	266	37	than	than	ADP
fsr-3804	266	38	the	the	DET
fsr-3804	266	39	rate	rate	NOUN
fsr-3804	266	40	of	of	ADP
fsr-3804	266	41	inflation	inflation	NOUN
fsr-3804	266	42	.	.	PUNCT
fsr-3804	267	1	in	in	ADP
fsr-3804	267	2	conclusion	conclusion	NOUN
fsr-3804	267	3	,	,	PUNCT
fsr-3804	267	4	the	the	DET
fsr-3804	267	5	analysis	analysis	NOUN
fsr-3804	267	6	in	in	ADP
fsr-3804	267	7	this	this	DET
fsr-3804	267	8	paper	paper	NOUN
fsr-3804	267	9	confirms	confirm	VERB
fsr-3804	267	10	and	and	CCONJ
fsr-3804	267	11	extends	extend	VERB
fsr-3804	267	12	the	the	DET
fsr-3804	267	13	prior	prior	ADJ
fsr-3804	267	14	analysis	analysis	NOUN
fsr-3804	267	15	which	which	PRON
fsr-3804	267	16	explains	explain	VERB
fsr-3804	267	17	why	why	SCONJ
fsr-3804	267	18	inflation	inflation	NOUN
fsr-3804	267	19	is	be	AUX
fsr-3804	267	20	detrimental	detrimental	ADJ
fsr-3804	267	21	to	to	ADP
fsr-3804	267	22	stock	stock	NOUN
fsr-3804	267	23	returns	return	NOUN
fsr-3804	267	24	and	and	CCONJ
fsr-3804	267	25	demonstrates	demonstrate	VERB
fsr-3804	267	26	that	that	SCONJ
fsr-3804	267	27	this	this	PRON
fsr-3804	267	28	has	have	AUX
fsr-3804	267	29	contin	contin	AUX
fsr-3804	267	30	ued	ue	VERB
fsr-3804	267	31	through	through	ADP
fsr-3804	267	32	1995	1995	NUM
fsr-3804	267	33	.	.	PUNCT
fsr-3804	268	1	it	it	PRON
fsr-3804	268	2	is	be	AUX
fsr-3804	268	3	noteworthy	noteworthy	ADJ
fsr-3804	268	4	that	that	SCONJ
fsr-3804	268	5	the	the	DET
fsr-3804	268	6	u.s	u.s	PROPN
fsr-3804	268	7	.	.	PROPN
fsr-3804	268	8	stock	stock	NOUN
fsr-3804	268	9	market	market	NOUN
fsr-3804	268	10	has	have	AUX
fsr-3804	268	11	generally	generally	ADV
fsr-3804	268	12	benefited	benefit	VERB
fsr-3804	268	13	from	from	ADP
fsr-3804	268	14	relatively	relatively	ADV
fsr-3804	268	15	low	low	ADJ
fsr-3804	268	16	inflation	inflation	NOUN
fsr-3804	268	17	since	since	SCONJ
fsr-3804	268	18	1982	1982	NUM
fsr-3804	268	19	and	and	CCONJ
fsr-3804	268	20	especially	especially	ADV
fsr-3804	268	21	during	during	ADP
fsr-3804	268	22	1995	1995	NUM
fsr-3804	268	23	when	when	SCONJ
fsr-3804	268	24	the	the	DET
fsr-3804	268	25	implied	imply	VERB
fsr-3804	268	26	growth	growth	NOUN
fsr-3804	268	27	rate	rate	NOUN
fsr-3804	268	28	increased	increase	VERB
fsr-3804	268	29	while	while	SCONJ
fsr-3804	268	30	the	the	DET
fsr-3804	268	31	inflation	inflation	NOUN
fsr-3804	268	32	rate	rate	NOUN
fsr-3804	268	33	was	be	AUX
fsr-3804	268	34	declining	decline	VERB
fsr-3804	268	35	,	,	PUNCT
fsr-3804	268	36	resulting	result	VERB
fsr-3804	268	37	in	in	ADP
fsr-3804	268	38	very	very	ADV
fsr-3804	268	39	high	high	ADJ
fsr-3804	268	40	stock	stock	NOUN
fsr-3804	268	41	returns	return	NOUN
fsr-3804	268	42	.	.	PUNCT
fsr-3804	269	1	it	it	PRON
fsr-3804	269	2	appears	appear	VERB
fsr-3804	269	3	that	that	SCONJ
fsr-3804	269	4	1996	1996	NUM
fsr-3804	269	5	will	will	AUX
fsr-3804	269	6	likewise	likewise	ADV
fsr-3804	269	7	be	be	AUX
fsr-3804	269	8	a	a	DET
fsr-3804	269	9	good	good	ADJ
fsr-3804	269	10	year	year	NOUN
fsr-3804	269	11	due	due	ADP
fsr-3804	269	12	to	to	ADP
fsr-3804	269	13	a	a	DET
fsr-3804	269	14	high	high	ADJ
fsr-3804	269	15	roe	roe	NOUN
fsr-3804	269	16	which	which	PRON
fsr-3804	269	17	implies	imply	VERB
fsr-3804	269	18	continued	continued	ADJ
fsr-3804	269	19	growth	growth	NOUN
fsr-3804	269	20	and	and	CCONJ
fsr-3804	269	21	low	low	ADJ
fsr-3804	269	22	inflation	inflation	NOUN
fsr-3804	269	23	.	.	PUNCT
fsr-3804	270	1	although	although	SCONJ
fsr-3804	270	2	it	it	PRON
fsr-3804	270	3	is	be	AUX
fsr-3804	270	4	always	always	ADV
fsr-3804	270	5	difficult	difficult	ADJ
fsr-3804	270	6	to	to	PART
fsr-3804	270	7	project	project	VERB
fsr-3804	270	8	the	the	DET
fsr-3804	270	9	future	future	NOUN
fsr-3804	270	10	,	,	PUNCT
fsr-3804	270	11	these	these	DET
fsr-3804	270	12	results	result	NOUN
fsr-3804	270	13	should	should	AUX
fsr-3804	270	14	help	help	VERB
fsr-3804	270	15	investors	investor	NOUN
fsr-3804	270	16	understand	understand	VERB
fsr-3804	270	17	the	the	DET
fsr-3804	270	18	importance	importance	NOUN
fsr-3804	270	19	of	of	ADP
fsr-3804	270	20	concentrating	concentrate	VERB
fsr-3804	270	21	on	on	ADP
fsr-3804	270	22	inflationary	inflationary	ADJ
fsr-3804	270	23	expectations	expectation	NOUN
fsr-3804	270	24	and	and	CCONJ
fsr-3804	270	25	the	the	DET
fsr-3804	270	26	relationship	relationship	NOUN
fsr-3804	270	27	between	between	ADP
fsr-3804	270	28	inflation	inflation	NOUN
fsr-3804	270	29	,	,	PUNCT
fsr-3804	270	30	roe	roe	NOUN
fsr-3804	270	31	,	,	PUNCT
fsr-3804	270	32	and	and	CCONJ
fsr-3804	270	33	growth	growth	NOUN
fsr-3804	270	34	.	.	PUNCT
fsr-3804	271	1	there	there	PRON
fsr-3804	271	2	is	be	VERB
fsr-3804	271	3	obviously	obviously	ADV
fsr-3804	271	4	a	a	DET
fsr-3804	271	5	large	large	ADJ
fsr-3804	271	6	difference	difference	NOUN
fsr-3804	271	7	in	in	ADP
fsr-3804	271	8	stock	stock	NOUN
fsr-3804	271	9	returns	return	NOUN
fsr-3804	271	10	during	during	ADP
fsr-3804	271	11	periods	period	NOUN
fsr-3804	271	12	of	of	ADP
fsr-3804	271	13	high	high	ADJ
fsr-3804	271	14	versus	versus	ADP
fsr-3804	271	15	low	low	ADJ
fsr-3804	271	16	inflation	inflation	NOUN
fsr-3804	271	17	or	or	CCONJ
fsr-3804	271	18	during	during	ADP
fsr-3804	271	19	years	year	NOUN
fsr-3804	271	20	when	when	SCONJ
fsr-3804	271	21	the	the	DET
fsr-3804	271	22	rate	rate	NOUN
fsr-3804	271	23	of	of	ADP
fsr-3804	271	24	inflation	inflation	NOUN
fsr-3804	271	25	expe	expe	NOUN
fsr-3804	271	26	riences	rience	VERB
fsr-3804	271	27	a	a	DET
fsr-3804	271	28	large	large	ADJ
fsr-3804	271	29	increase	increase	NOUN
fsr-3804	271	30	or	or	CCONJ
fsr-3804	271	31	decline	decline	VERB
fsr-3804	271	32	and	and	CCONJ
fsr-3804	271	33	these	these	DET
fsr-3804	271	34	results	result	NOUN
fsr-3804	271	35	help	help	VERB
fsr-3804	271	36	explain	explain	VERB
fsr-3804	271	37	the	the	DET
fsr-3804	271	38	reason	reason	NOUN
fsr-3804	271	39	for	for	ADP
fsr-3804	271	40	this	this	DET
fsr-3804	271	41	difference	difference	NOUN
fsr-3804	271	42	.	.	PUNCT
fsr-3804	272	1	acknowledmnent	acknowledmnent	ADJ
fsr-3804	272	2	:	:	PUNCT
fsr-3804	272	3	the	the	DET
fsr-3804	272	4	author	author	NOUN
fsr-3804	272	5	acknowledges	acknowledge	VERB
fsr-3804	272	6	the	the	DET
fsr-3804	272	7	research	research	NOUN
fsr-3804	272	8	assistance	assistance	NOUN
fsr-3804	272	9	of	of	ADP
fsr-3804	272	10	darren	darren	PROPN
fsr-3804	272	11	seidel	seidel	PROPN
fsr-3804	272	12	,	,	PUNCT
fsr-3804	272	13	sumner	sumner	PROPN
fsr-3804	272	14	weymouth	weymouth	PROPN
fsr-3804	272	15	,	,	PUNCT
fsr-3804	272	16	maria	maria	PROPN
fsr-3804	272	17	vivero	vivero	PROPN
fsr-3804	272	18	,	,	PUNCT
fsr-3804	272	19	and	and	CCONJ
fsr-3804	272	20	kevin	kevin	PROPN
fsr-3804	272	21	poppink	poppink	PROPN
fsr-3804	272	22	.	.	PUNCT
fsr-3804	273	1	notes	note	VERB
fsr-3804	273	2	1	1	NUM
fsr-3804	273	3	.	.	NUM
fsr-3804	273	4	foradetailedderivationofthisreducedformmodel	foradetailedderivationofthisreducedformmodel	PROPN
fsr-3804	273	5	,	,	PUNCT
fsr-3804	273	6	see	see	VERB
fsr-3804	273	7	reilly	reilly	ADV
fsr-3804	273	8	and	and	CCONJ
fsr-3804	273	9	brown	brown	ADJ
fsr-3804	273	10	,	,	PUNCT
fsr-3804	273	11	1997,chapter	1997,chapter	NUM
fsr-3804	273	12	13	13	NUM
fsr-3804	273	13	.	.	PUNCT
fsr-3804	274	1	2	2	NUM
fsr-3804	274	2	.	.	X
fsr-3804	274	3	for	for	ADP
fsr-3804	274	4	a	a	DET
fsr-3804	274	5	discussion	discussion	NOUN
fsr-3804	274	6	of	of	ADP
fsr-3804	274	7	this	this	PRON
fsr-3804	274	8	,	,	PUNCT
fsr-3804	274	9	see	see	VERB
fsr-3804	274	10	reilly	reilly	ADV
fsr-3804	274	11	and	and	CCONJ
fsr-3804	274	12	brown	brown	ADJ
fsr-3804	274	13	,	,	PUNCT
fsr-3804	274	14	1997	1997	NUM
fsr-3804	274	15	,	,	PUNCT
fsr-3804	274	16	chapter	chapter	NOUN
fsr-3804	274	17	1	1	NUM
fsr-3804	274	18	.	.	PUNCT
fsr-3804	275	1	references	reference	NOUN
fsr-3804	275	2	babcock	babcock	PROPN
fsr-3804	275	3	,	,	PUNCT
fsr-3804	275	4	guilford	guilford	PROPN
fsr-3804	275	5	c.	c.	PROPN
fsr-3804	275	6	(	(	PUNCT
fsr-3804	275	7	1970	1970	NUM
fsr-3804	275	8	)	)	PUNCT
fsr-3804	275	9	.	.	PUNCT
fsr-3804	276	1	the	the	DET
fsr-3804	276	2	concept	concept	NOUN
fsr-3804	276	3	of	of	ADP
fsr-3804	276	4	sustainable	sustainable	ADJ
fsr-3804	276	5	growth	growth	NOUN
fsr-3804	276	6	.	.	PUNCT
fsr-3804	277	1	financial	financial	ADJ
fsr-3804	277	2	analysts	analyst	NOUN
fsr-3804	277	3	journal	journal	NOUN
fsr-3804	277	4	,	,	PUNCT
fsr-3804	277	5	26(3	26(3	NUM
fsr-3804	277	6	may	may	PROPN
fsr-3804	277	7	-	-	PUNCT
fsr-3804	277	8	june	june	PROPN
fsr-3804	277	9	)	)	PUNCT
fsr-3804	277	10	,	,	PUNCT
fsr-3804	277	11	236	236	NUM
fsr-3804	277	12	-	-	SYM
fsr-3804	277	13	242	242	NUM
fsr-3804	277	14	.	.	PUNCT
fsr-3804	278	1	cohen	cohen	PROPN
fsr-3804	278	2	,	,	PUNCT
fsr-3804	278	3	jerome	jerome	PROPN
fsr-3804	278	4	b.	b.	PROPN
fsr-3804	278	5	,	,	PUNCT
fsr-3804	278	6	zinbarg	zinbarg	PROPN
fsr-3804	278	7	,	,	PUNCT
fsr-3804	278	8	edward	edward	PROPN
fsr-3804	278	9	d.	d.	PROPN
fsr-3804	278	10	,	,	PUNCT
fsr-3804	278	11	&	&	CCONJ
fsr-3804	278	12	zeikel	zeikel	PROPN
fsr-3804	278	13	,	,	PUNCT
fsr-3804	278	14	arthur	arthur	PROPN
fsr-3804	278	15	.	.	PUNCT
fsr-3804	278	16	(	(	PUNCT
fsr-3804	278	17	1987	1987	NUM
fsr-3804	278	18	)	)	PUNCT
fsr-3804	278	19	.	.	PUNCT
fsr-3804	279	1	investment	investment	NOUN
fsr-3804	279	2	analysis	analysis	NOUN
fsr-3804	279	3	and	and	CCONJ
fsr-3804	279	4	portfolio	portfolio	NOUN
fsr-3804	279	5	management	management	NOUN
fsr-3804	279	6	,	,	PUNCT
fsr-3804	279	7	5th	5th	ADJ
fsr-3804	279	8	ed	ed	NOUN
fsr-3804	279	9	.	.	PUNCT
fsr-3804	280	1	homewood	homewood	PROPN
fsr-3804	280	2	,	,	PUNCT
fsr-3804	280	3	il	il	PROPN
fsr-3804	280	4	:	:	PUNCT
fsr-3804	280	5	richard	richard	PROPN
fsr-3804	280	6	d.	d.	PROPN
fsr-3804	280	7	irwin	irwin	PROPN
fsr-3804	280	8	.	.	PUNCT
fsr-3804	281	1	fama	fama	PROPN
fsr-3804	281	2	,	,	PUNCT
fsr-3804	281	3	eugene	eugene	PROPN
fsr-3804	281	4	f.	f.	PROPN
fsr-3804	281	5	(	(	PUNCT
fsr-3804	281	6	1981	1981	NUM
fsr-3804	281	7	)	)	PUNCT
fsr-3804	281	8	.	.	PUNCT
fsr-3804	282	1	stock	stock	NOUN
fsr-3804	282	2	returns	return	NOUN
fsr-3804	282	3	,	,	PUNCT
fsr-3804	282	4	real	real	ADJ
fsr-3804	282	5	activity	activity	NOUN
fsr-3804	282	6	,	,	PUNCT
fsr-3804	282	7	inflation	inflation	NOUN
fsr-3804	282	8	and	and	CCONJ
fsr-3804	282	9	money	money	NOUN
fsr-3804	282	10	.	.	PUNCT
fsr-3804	283	1	american	american	PROPN
fsr-3804	283	2	economic	economic	PROPN
fsr-3804	283	3	review	review	PROPN
fsr-3804	283	4	,	,	PUNCT
fsr-3804	283	5	71(4	71(4	NUM
fsr-3804	283	6	september	september	PROPN
fsr-3804	283	7	)	)	PUNCT
fsr-3804	283	8	.	.	PUNCT
fsr-3804	284	1	the	the	DET
fsr-3804	284	2	impact	impact	NOUN
fsr-3804	284	3	of	of	ADP
fsr-3804	284	4	inflation	inflation	NOUN
fsr-3804	284	5	17	17	NUM
fsr-3804	284	6	fuller	full	ADJ
fsr-3804	284	7	,	,	PUNCT
fsr-3804	284	8	russell	russell	PROPN
fsr-3804	284	9	j.	j.	PROPN
fsr-3804	284	10	,	,	PUNCT
fsr-3804	284	11	&	&	CCONJ
fsr-3804	284	12	perry	perry	PROPN
fsr-3804	284	13	,	,	PUNCT
fsr-3804	284	14	glenn	glenn	PROPN
fsr-3804	284	15	h.	h.	PROPN
fsr-3804	284	16	(	(	PUNCT
fsr-3804	284	17	1981	1981	NUM
fsr-3804	284	18	)	)	PUNCT
fsr-3804	284	19	.	.	PUNCT
fsr-3804	285	1	inflation	inflation	NOUN
fsr-3804	285	2	,	,	PUNCT
fsr-3804	285	3	return	return	VERB
fsr-3804	285	4	on	on	ADP
fsr-3804	285	5	equity	equity	NOUN
fsr-3804	285	6	,	,	PUNCT
fsr-3804	285	7	and	and	CCONJ
fsr-3804	285	8	stock	stock	NOUN
fsr-3804	285	9	prices	price	NOUN
fsr-3804	285	10	.	.	PUNCT
fsr-3804	286	1	the	the	DET
fsr-3804	286	2	jour	jour	PROPN
fsr-3804	286	3	nal	nal	PROPN
fsr-3804	286	4	of	of	ADP
fsr-3804	286	5	portfolio	portfolio	NOUN
fsr-3804	286	6	management	management	NOUN
fsr-3804	286	7	7(4	7(4	NUM
fsr-3804	286	8	summer	summer	NOUN
fsr-3804	286	9	)	)	PUNCT
fsr-3804	286	10	,	,	PUNCT
fsr-3804	286	11	19	19	NUM
fsr-3804	286	12	-	-	SYM
fsr-3804	286	13	25	25	NUM
fsr-3804	286	14	.	.	PUNCT
fsr-3804	286	15	jaffe	jaffe	PROPN
fsr-3804	286	16	,	,	PUNCT
fsr-3804	286	17	jeffrey	jeffrey	PROPN
fsr-3804	286	18	f.	f.	PROPN
fsr-3804	286	19	,	,	PUNCT
fsr-3804	286	20	&	&	CCONJ
fsr-3804	286	21	mandelker	mandelker	PROPN
fsr-3804	286	22	,	,	PUNCT
fsr-3804	286	23	gershon	gershon	PROPN
fsr-3804	286	24	.	.	PUNCT
fsr-3804	286	25	(	(	PUNCT
fsr-3804	286	26	1976	1976	NUM
fsr-3804	286	27	)	)	PUNCT
fsr-3804	286	28	.	.	PUNCT
fsr-3804	287	1	the	the	DET
fsr-3804	287	2	'	'	PUNCT
fsr-3804	287	3	fisher	fisher	PROPN
fsr-3804	287	4	effect	effect	NOUN
fsr-3804	287	5	'	'	PUNCT
fsr-3804	287	6	for	for	ADP
fsr-3804	287	7	risky	risky	ADJ
fsr-3804	287	8	assets	asset	NOUN
fsr-3804	287	9	:	:	PUNCT
fsr-3804	287	10	an	an	DET
fsr-3804	287	11	empirical	empirical	ADJ
fsr-3804	287	12	analysis	analysis	NOUN
fsr-3804	287	13	.	.	PUNCT
fsr-3804	288	1	journal	journal	PROPN
fsr-3804	288	2	of	of	ADP
fsr-3804	288	3	finance	finance	NOUN
fsr-3804	288	4	,	,	PUNCT
fsr-3804	288	5	31(2	31(2	NUM
fsr-3804	288	6	may	may	NOUN
fsr-3804	288	7	)	)	PUNCT
fsr-3804	288	8	,	,	PUNCT
fsr-3804	288	9	447	447	NUM
fsr-3804	288	10	-	-	SYM
fsr-3804	288	11	458	458	NUM
fsr-3804	288	12	.	.	PUNCT
fsr-3804	289	1	jahnke	jahnke	PROPN
fsr-3804	289	2	,	,	PUNCT
fsr-3804	289	3	william	william	PROPN
fsr-3804	289	4	w.	w.	PROPN
fsr-3804	289	5	(	(	PUNCT
fsr-3804	289	6	1975	1975	NUM
fsr-3804	289	7	)	)	PUNCT
fsr-3804	289	8	.	.	PUNCT
fsr-3804	290	1	what	what	PRON
fsr-3804	290	2	's	be	AUX
fsr-3804	290	3	behind	behind	ADP
fsr-3804	290	4	stock	stock	NOUN
fsr-3804	290	5	prices	price	NOUN
fsr-3804	290	6	?	?	PUNCT
fsr-3804	291	1	financial	financial	ADJ
fsr-3804	291	2	analysts	analyst	NOUN
fsr-3804	291	3	journal	journal	NOUN
fsr-3804	291	4	,	,	PUNCT
fsr-3804	291	5	31(5	31(5	NUM
fsr-3804	291	6	septem	septem	PROPN
fsr-3804	291	7	ber	ber	PROPN
fsr-3804	291	8	-	-	PUNCT
fsr-3804	291	9	october	october	PROPN
fsr-3804	291	10	)	)	PUNCT
fsr-3804	291	11	,	,	PUNCT
fsr-3804	291	12	69	69	NUM
fsr-3804	291	13	-	-	SYM
fsr-3804	291	14	76	76	NUM
fsr-3804	291	15	.	.	PUNCT
fsr-3804	292	1	reilly	reilly	PROPN
fsr-3804	292	2	,	,	PUNCT
fsr-3804	292	3	frank	frank	PROPN
fsr-3804	292	4	k.	k.	PROPN
fsr-3804	292	5	,	,	PUNCT
fsr-3804	292	6	&	&	CCONJ
fsr-3804	292	7	brown	brown	PROPN
fsr-3804	292	8	,	,	PUNCT
fsr-3804	292	9	keith	keith	PROPN
fsr-3804	292	10	c.	c.	PROPN
fsr-3804	292	11	(	(	PUNCT
fsr-3804	292	12	1997	1997	NUM
fsr-3804	292	13	)	)	PUNCT
fsr-3804	292	14	.	.	PUNCT
fsr-3804	293	1	investment	investment	NOUN
fsr-3804	293	2	analysis	analysis	NOUN
fsr-3804	293	3	and	and	CCONJ
fsr-3804	293	4	portfolio	portfolio	NOUN
fsr-3804	293	5	management	management	NOUN
fsr-3804	293	6	,	,	PUNCT
fsr-3804	293	7	5th	5th	ADJ
fsr-3804	293	8	ed	ed	NOUN
fsr-3804	293	9	.	.	PUNCT
fsr-3804	294	1	fort	fort	NOUN
fsr-3804	294	2	worth	worth	NOUN
fsr-3804	294	3	,	,	PUNCT
fsr-3804	294	4	tx	tx	PROPN
fsr-3804	294	5	:	:	PUNCT
fsr-3804	294	6	the	the	DET
fsr-3804	294	7	dryden	dryden	PROPN
fsr-3804	294	8	press	press	PROPN
fsr-3804	294	9	.	.	PUNCT