id	sid	tid	token	lemma	pos
fsr-3842	1	1	pii	pii	PROPN
fsr-3842	1	2	:	:	PUNCT
fsr-3842	1	3	s1057	s1057	NOUN
fsr-3842	1	4	-	-	PUNCT
fsr-3842	1	5	0810(99)80009	0810(99)80009	NOUN
fsr-3842	1	6	-	-	PUNCT
fsr-3842	1	7	2	2	NUM
fsr-3842	1	8	financial	financial	ADJ
fsr-3842	1	9	services	service	NOUN
fsr-3842	1	10	review	review	NOUN
fsr-3842	1	11	,	,	PUNCT
fsr-3842	1	12	7(1	7(1	NUM
fsr-3842	1	13	):	):	PUNCT
fsr-3842	1	14	1	1	NUM
fsr-3842	1	15	-	-	SYM
fsr-3842	1	16	10	10	NUM
fsr-3842	1	17	issn	issn	NOUN
fsr-3842	1	18	:	:	PUNCT
fsr-3842	1	19	1057	1057	NUM
fsr-3842	1	20	-	-	SYM
fsr-3842	1	21	0810	0810	NUM
fsr-3842	1	22	copyright	copyright	NOUN
fsr-3842	1	23	©	©	PROPN
fsr-3842	1	24	1998	1998	NUM
fsr-3842	1	25	by	by	ADP
fsr-3842	1	26	jai	jai	PROPN
fsr-3842	1	27	press	press	PROPN
fsr-3842	1	28	inc	inc	PROPN
fsr-3842	1	29	.	.	PUNCT
fsr-3842	2	1	all	all	DET
fsr-3842	2	2	rights	right	NOUN
fsr-3842	2	3	of	of	ADP
fsr-3842	2	4	reproduction	reproduction	NOUN
fsr-3842	2	5	in	in	ADP
fsr-3842	2	6	any	any	DET
fsr-3842	2	7	form	form	NOUN
fsr-3842	2	8	reserved	reserve	VERB
fsr-3842	2	9	.	.	PUNCT
fsr-3842	3	1	shareholder	shareholder	NOUN
fsr-3842	3	2	wealth	wealth	NOUN
fsr-3842	3	3	effects	effect	NOUN
fsr-3842	3	4	of	of	ADP
fsr-3842	3	5	calpers	calper	NOUN
fsr-3842	3	6	'	'	PART
fsr-3842	3	7	activism	activism	PROPN
fsr-3842	3	8	claire	claire	PROPN
fsr-3842	3	9	e.	e.	PROPN
fsr-3842	3	10	crutchley	crutchley	PROPN
fsr-3842	3	11	,	,	PUNCT
fsr-3842	3	12	carl	carl	PROPN
fsr-3842	3	13	d.	d.	PROPN
fsr-3842	3	14	hudson	hudson	PROPN
fsr-3842	3	15	,	,	PUNCT
fsr-3842	3	16	and	and	CCONJ
fsr-3842	3	17	marlin	marlin	PROPN
fsr-3842	3	18	r.h	r.h	PROPN
fsr-3842	3	19	.	.	PROPN
fsr-3842	3	20	jensen	jensen	PROPN
fsr-3842	3	21	in	in	ADP
fsr-3842	3	22	the	the	DET
fsr-3842	3	23	past	past	ADJ
fsr-3842	3	24	decade	decade	NOUN
fsr-3842	3	25	,	,	PUNCT
fsr-3842	3	26	institutional	institutional	ADJ
fsr-3842	3	27	investors	investor	NOUN
fsr-3842	3	28	have	have	AUX
fsr-3842	3	29	become	become	VERB
fsr-3842	3	30	more	more	ADV
fsr-3842	3	31	active	active	ADJ
fsr-3842	3	32	in	in	ADP
fsr-3842	3	33	monitoring	monitor	VERB
fsr-3842	3	34	man	man	NOUN
fsr-3842	3	35	agement	agement	NOUN
fsr-3842	3	36	and	and	CCONJ
fsr-3842	3	37	voting	vote	VERB
fsr-3842	3	38	the	the	DET
fsr-3842	3	39	shares	share	NOUN
fsr-3842	3	40	they	they	PRON
fsr-3842	3	41	control	control	VERB
fsr-3842	3	42	.	.	PUNCT
fsr-3842	4	1	the	the	DET
fsr-3842	4	2	california	california	PROPN
fsr-3842	4	3	public	public	PROPN
fsr-3842	4	4	employees	employee	NOUN
fsr-3842	4	5	'	'	PART
fsr-3842	4	6	retirement	retirement	NOUN
fsr-3842	4	7	system	system	NOUN
fsr-3842	4	8	(	(	PUNCT
fsr-3842	4	9	caipers	caiper	NOUN
fsr-3842	4	10	)	)	PUNCT
fsr-3842	4	11	was	be	AUX
fsr-3842	4	12	a	a	DET
fsr-3842	4	13	leader	leader	NOUN
fsr-3842	4	14	in	in	ADP
fsr-3842	4	15	this	this	DET
fsr-3842	4	16	wave	wave	NOUN
fsr-3842	4	17	of	of	ADP
fsr-3842	4	18	activism	activism	NOUN
fsr-3842	4	19	.	.	PUNCT
fsr-3842	5	1	this	this	DET
fsr-3842	5	2	study	study	NOUN
fsr-3842	5	3	investi	investi	PROPN
fsr-3842	5	4	gates	gate	VERB
fsr-3842	5	5	the	the	DET
fsr-3842	5	6	long	long	ADJ
fsr-3842	5	7	-	-	PUNCT
fsr-3842	5	8	term	term	NOUN
fsr-3842	5	9	returns	return	NOUN
fsr-3842	5	10	an	an	DET
fsr-3842	5	11	investor	investor	NOUN
fsr-3842	5	12	with	with	ADP
fsr-3842	5	13	public	public	ADJ
fsr-3842	5	14	information	information	NOUN
fsr-3842	5	15	could	could	AUX
fsr-3842	5	16	earn	earn	VERB
fsr-3842	5	17	by	by	ADP
fsr-3842	5	18	buying	buy	VERB
fsr-3842	5	19	a	a	DET
fsr-3842	5	20	portfolio	portfolio	NOUN
fsr-3842	5	21	of	of	ADP
fsr-3842	5	22	firms	firm	NOUN
fsr-3842	5	23	targeted	target	VERB
fsr-3842	5	24	by	by	ADP
fsr-3842	5	25	caipers	caiper	NOUN
fsr-3842	5	26	and	and	CCONJ
fsr-3842	5	27	whether	whether	SCONJ
fsr-3842	5	28	the	the	DET
fsr-3842	5	29	success	success	NOUN
fsr-3842	5	30	of	of	ADP
fsr-3842	5	31	caipers	caiper	NOUN
fsr-3842	5	32	'	'	PART
fsr-3842	5	33	activism	activism	NOUN
fsr-3842	5	34	depends	depend	VERB
fsr-3842	5	35	on	on	ADP
fsr-3842	5	36	the	the	DET
fsr-3842	5	37	aggressiveness	aggressiveness	NOUN
fsr-3842	5	38	of	of	ADP
fsr-3842	5	39	the	the	DET
fsr-3842	5	40	targeting	targeting	NOUN
fsr-3842	5	41	.	.	PUNCT
fsr-3842	6	1	the	the	DET
fsr-3842	6	2	evidence	evidence	NOUN
fsr-3842	6	3	supports	support	VERB
fsr-3842	6	4	the	the	DET
fsr-3842	6	5	idea	idea	NOUN
fsr-3842	6	6	that	that	SCONJ
fsr-3842	6	7	vis	vis	X
fsr-3842	6	8	ible	ible	ADJ
fsr-3842	6	9	and	and	CCONJ
fsr-3842	6	10	aggressive	aggressive	ADJ
fsr-3842	6	11	activism	activism	NOUN
fsr-3842	6	12	leads	lead	VERB
fsr-3842	6	13	to	to	ADP
fsr-3842	6	14	substantial	substantial	ADJ
fsr-3842	6	15	increases	increase	NOUN
fsr-3842	6	16	in	in	ADP
fsr-3842	6	17	shareholder	shareholder	NOUN
fsr-3842	6	18	wealth	wealth	NOUN
fsr-3842	6	19	while	while	SCONJ
fsr-3842	6	20	a	a	DET
fsr-3842	6	21	quieter	quieter	NOUN
fsr-3842	6	22	activism	activism	NOUN
fsr-3842	6	23	does	do	VERB
fsr-3842	6	24	not	not	PART
fsr-3842	6	25	.	.	PUNCT
fsr-3842	7	1	i.	i.	PROPN
fsr-3842	7	2	introduction	introduction	NOUN
fsr-3842	7	3	the	the	DET
fsr-3842	7	4	past	past	ADJ
fsr-3842	7	5	several	several	ADJ
fsr-3842	7	6	decades	decade	NOUN
fsr-3842	7	7	have	have	AUX
fsr-3842	7	8	witnessed	witness	VERB
fsr-3842	7	9	a	a	DET
fsr-3842	7	10	trend	trend	NOUN
fsr-3842	7	11	towards	towards	ADP
fsr-3842	7	12	the	the	DET
fsr-3842	7	13	institutionalization	institutionalization	NOUN
fsr-3842	7	14	of	of	ADP
fsr-3842	7	15	the	the	DET
fsr-3842	7	16	sav	sav	PROPN
fsr-3842	7	17	ings	ing	NOUN
fsr-3842	7	18	process	process	NOUN
fsr-3842	7	19	;	;	PUNCT
fsr-3842	7	20	more	more	ADJ
fsr-3842	7	21	than	than	ADP
fsr-3842	7	22	half	half	NOUN
fsr-3842	7	23	of	of	ADP
fsr-3842	7	24	all	all	DET
fsr-3842	7	25	stocks	stock	NOUN
fsr-3842	7	26	outstanding	outstanding	ADJ
fsr-3842	7	27	are	be	AUX
fsr-3842	7	28	held	hold	VERB
fsr-3842	7	29	through	through	ADP
fsr-3842	7	30	institutions	institution	NOUN
fsr-3842	7	31	rather	rather	ADV
fsr-3842	7	32	than	than	ADP
fsr-3842	7	33	direct	direct	ADJ
fsr-3842	7	34	holdings	holding	NOUN
fsr-3842	7	35	of	of	ADP
fsr-3842	7	36	securities	security	NOUN
fsr-3842	7	37	by	by	ADP
fsr-3842	7	38	individuals	individual	NOUN
fsr-3842	7	39	.	.	PUNCT
fsr-3842	8	1	the	the	DET
fsr-3842	8	2	increased	increase	VERB
fsr-3842	8	3	popularity	popularity	NOUN
fsr-3842	8	4	of	of	ADP
fsr-3842	8	5	pension	pension	NOUN
fsr-3842	8	6	funds	fund	NOUN
fsr-3842	8	7	since	since	SCONJ
fsr-3842	8	8	world	world	PROPN
fsr-3842	8	9	war	war	PROPN
fsr-3842	8	10	ii	ii	PROPN
fsr-3842	8	11	and	and	CCONJ
fsr-3842	8	12	the	the	DET
fsr-3842	8	13	more	more	ADV
fsr-3842	8	14	recent	recent	ADJ
fsr-3842	8	15	development	development	NOUN
fsr-3842	8	16	and	and	CCONJ
fsr-3842	8	17	expansion	expansion	NOUN
fsr-3842	8	18	of	of	ADP
fsr-3842	8	19	keogh	keogh	PROPN
fsr-3842	8	20	plans	plan	NOUN
fsr-3842	8	21	and	and	CCONJ
fsr-3842	8	22	ira	ira	PROPN
fsr-3842	8	23	accounts	account	NOUN
fsr-3842	8	24	have	have	AUX
fsr-3842	8	25	resulted	result	VERB
fsr-3842	8	26	in	in	ADP
fsr-3842	8	27	the	the	DET
fsr-3842	8	28	delegation	delegation	NOUN
fsr-3842	8	29	of	of	ADP
fsr-3842	8	30	a	a	DET
fsr-3842	8	31	large	large	ADJ
fsr-3842	8	32	degree	degree	NOUN
fsr-3842	8	33	of	of	ADP
fsr-3842	8	34	corporate	corporate	ADJ
fsr-3842	8	35	control	control	NOUN
fsr-3842	8	36	to	to	ADP
fsr-3842	8	37	the	the	DET
fsr-3842	8	38	managers	manager	NOUN
fsr-3842	8	39	of	of	ADP
fsr-3842	8	40	financial	financial	ADJ
fsr-3842	8	41	institutions	institution	NOUN
fsr-3842	8	42	.	.	PUNCT
fsr-3842	9	1	prior	prior	ADV
fsr-3842	9	2	to	to	ADP
fsr-3842	9	3	the	the	DET
fsr-3842	9	4	1980s	1980	NOUN
fsr-3842	9	5	such	such	ADJ
fsr-3842	9	6	institutional	institutional	ADJ
fsr-3842	9	7	investors	investor	NOUN
fsr-3842	9	8	were	be	AUX
fsr-3842	9	9	rel	rel	ADV
fsr-3842	9	10	atively	atively	ADV
fsr-3842	9	11	passive	passive	ADJ
fsr-3842	9	12	and	and	CCONJ
fsr-3842	9	13	tended	tend	VERB
fsr-3842	9	14	to	to	PART
fsr-3842	9	15	vote	vote	VERB
fsr-3842	9	16	shares	share	NOUN
fsr-3842	9	17	in	in	ADP
fsr-3842	9	18	accordance	accordance	NOUN
fsr-3842	9	19	with	with	ADP
fsr-3842	9	20	management	management	NOUN
fsr-3842	9	21	's	's	PART
fsr-3842	9	22	wishes	wish	NOUN
fsr-3842	9	23	.	.	PUNCT
fsr-3842	10	1	how	how	SCONJ
fsr-3842	10	2	ever	ever	ADV
fsr-3842	10	3	,	,	PUNCT
fsr-3842	10	4	as	as	SCONJ
fsr-3842	10	5	the	the	DET
fsr-3842	10	6	holdings	holding	NOUN
fsr-3842	10	7	of	of	ADP
fsr-3842	10	8	institutional	institutional	ADJ
fsr-3842	10	9	investors	investor	NOUN
fsr-3842	10	10	increased	increase	VERB
fsr-3842	10	11	,	,	PUNCT
fsr-3842	10	12	so	so	ADV
fsr-3842	10	13	did	do	VERB
fsr-3842	10	14	the	the	DET
fsr-3842	10	15	pressure	pressure	NOUN
fsr-3842	10	16	to	to	PART
fsr-3842	10	17	produce	produce	VERB
fsr-3842	10	18	attractive	attractive	ADJ
fsr-3842	10	19	returns	return	NOUN
fsr-3842	10	20	.	.	PUNCT
fsr-3842	11	1	in	in	ADP
fsr-3842	11	2	an	an	DET
fsr-3842	11	3	attempt	attempt	NOUN
fsr-3842	11	4	to	to	PART
fsr-3842	11	5	improve	improve	VERB
fsr-3842	11	6	performance	performance	NOUN
fsr-3842	11	7	,	,	PUNCT
fsr-3842	11	8	institutional	institutional	ADJ
fsr-3842	11	9	investors	investor	NOUN
fsr-3842	11	10	have	have	AUX
fsr-3842	11	11	become	become	VERB
fsr-3842	11	12	much	much	ADV
fsr-3842	11	13	more	more	ADV
fsr-3842	11	14	active	active	ADJ
fsr-3842	11	15	in	in	ADP
fsr-3842	11	16	monitoring	monitor	VERB
fsr-3842	11	17	management	management	NOUN
fsr-3842	11	18	and	and	CCONJ
fsr-3842	11	19	voting	vote	VERB
fsr-3842	11	20	the	the	DET
fsr-3842	11	21	shares	share	NOUN
fsr-3842	11	22	they	they	PRON
fsr-3842	11	23	control	control	VERB
fsr-3842	11	24	.	.	PUNCT
fsr-3842	12	1	the	the	DET
fsr-3842	12	2	california	california	PROPN
fsr-3842	12	3	public	public	PROPN
fsr-3842	12	4	employees	employee	NOUN
fsr-3842	12	5	'	'	PART
fsr-3842	12	6	retirement	retirement	NOUN
fsr-3842	12	7	system	system	NOUN
fsr-3842	12	8	(	(	PUNCT
fsr-3842	12	9	calpers	calpers	PROPN
fsr-3842	12	10	)	)	PUNCT
fsr-3842	12	11	under	under	ADP
fsr-3842	12	12	the	the	DET
fsr-3842	12	13	direction	direction	NOUN
fsr-3842	12	14	of	of	ADP
fsr-3842	12	15	ceo	ceo	PROPN
fsr-3842	12	16	dale	dale	PROPN
fsr-3842	12	17	hanson	hanson	PROPN
fsr-3842	12	18	was	be	AUX
fsr-3842	12	19	an	an	DET
fsr-3842	12	20	early	early	ADJ
fsr-3842	12	21	leader	leader	NOUN
fsr-3842	12	22	of	of	ADP
fsr-3842	12	23	this	this	DET
fsr-3842	12	24	wave	wave	NOUN
fsr-3842	12	25	of	of	ADP
fsr-3842	12	26	activism	activism	NOUN
fsr-3842	12	27	.	.	PUNCT
fsr-3842	13	1	each	each	DET
fsr-3842	13	2	year	year	NOUN
fsr-3842	13	3	since	since	SCONJ
fsr-3842	13	4	1987	1987	NUM
fsr-3842	13	5	,	,	PUNCT
fsr-3842	13	6	calpers	calpers	PROPN
fsr-3842	13	7	has	have	AUX
fsr-3842	13	8	targeted	target	VERB
fsr-3842	13	9	a	a	DET
fsr-3842	13	10	small	small	ADJ
fsr-3842	13	11	group	group	NOUN
fsr-3842	13	12	of	of	ADP
fsr-3842	13	13	firms	firm	NOUN
fsr-3842	13	14	in	in	ADP
fsr-3842	13	15	its	its	PRON
fsr-3842	13	16	portfolio	portfolio	NOUN
fsr-3842	13	17	that	that	SCONJ
fsr-3842	13	18	it	it	PRON
fsr-3842	13	19	perceives	perceive	VERB
fsr-3842	13	20	as	as	ADP
fsr-3842	13	21	having	have	VERB
fsr-3842	13	22	management	management	NOUN
fsr-3842	13	23	problems	problem	NOUN
fsr-3842	13	24	.	.	PUNCT
fsr-3842	14	1	articles	article	NOUN
fsr-3842	14	2	in	in	ADP
fsr-3842	14	3	the	the	DET
fsr-3842	14	4	wall	wall	PROPN
fsr-3842	14	5	street	street	PROPN
fsr-3842	14	6	journal	journal	PROPN
fsr-3842	14	7	have	have	AUX
fsr-3842	14	8	reported	report	VERB
fsr-3842	14	9	that	that	SCONJ
fsr-3842	14	10	investors	investor	NOUN
fsr-3842	14	11	could	could	AUX
fsr-3842	14	12	earn	earn	VERB
fsr-3842	14	13	very	very	ADV
fsr-3842	14	14	high	high	ADJ
fsr-3842	14	15	long	long	ADJ
fsr-3842	14	16	-	-	PUNCT
fsr-3842	14	17	term	term	NOUN
fsr-3842	14	18	returns	return	NOUN
fsr-3842	14	19	by	by	ADP
fsr-3842	14	20	simply	simply	ADV
fsr-3842	14	21	buying	buy	VERB
fsr-3842	14	22	the	the	DET
fsr-3842	14	23	firms	firm	NOUN
fsr-3842	14	24	that	that	PRON
fsr-3842	14	25	calpers	calpers	PROPN
fsr-3842	14	26	targeted	target	VERB
fsr-3842	14	27	.	.	PUNCT
fsr-3842	15	1	however	however	ADV
fsr-3842	15	2	,	,	PUNCT
fsr-3842	15	3	in	in	ADP
fsr-3842	15	4	1994	1994	NUM
fsr-3842	15	5	hanson	hanson	PROPN
fsr-3842	15	6	resigned	resign	VERB
fsr-3842	15	7	,	,	PUNCT
fsr-3842	15	8	and	and	CCONJ
fsr-3842	15	9	was	be	AUX
fsr-3842	15	10	replaced	replace	VERB
fsr-3842	15	11	by	by	ADP
fsr-3842	15	12	james	james	PROPN
fsr-3842	15	13	burton	burton	PROPN
fsr-3842	15	14	who	who	PRON
fsr-3842	15	15	continues	continue	VERB
fsr-3842	15	16	to	to	PART
fsr-3842	15	17	target	target	VERB
fsr-3842	15	18	finns	finn	NOUN
fsr-3842	15	19	,	,	PUNCT
fsr-3842	15	20	but	but	CCONJ
fsr-3842	15	21	whose	whose	DET
fsr-3842	15	22	activism	activism	NOUN
fsr-3842	15	23	is	be	AUX
fsr-3842	15	24	not	not	PART
fsr-3842	15	25	as	as	ADV
fsr-3842	15	26	vocal	vocal	ADJ
fsr-3842	15	27	as	as	ADP
fsr-3842	15	28	hanson	hanson	PROPN
fsr-3842	15	29	's	's	PART
fsr-3842	15	30	.	.	PUNCT
fsr-3842	16	1	this	this	DET
fsr-3842	16	2	study	study	NOUN
fsr-3842	16	3	investigates	investigate	VERB
fsr-3842	16	4	the	the	DET
fsr-3842	16	5	long	long	ADJ
fsr-3842	16	6	-	-	PUNCT
fsr-3842	16	7	term	term	NOUN
fsr-3842	16	8	returns	return	NOUN
fsr-3842	16	9	that	that	PRON
fsr-3842	16	10	an	an	DET
fsr-3842	16	11	investor	investor	NOUN
fsr-3842	16	12	with	with	ADP
fsr-3842	16	13	public	public	ADJ
fsr-3842	16	14	information	information	NOUN
fsr-3842	16	15	could	could	AUX
fsr-3842	16	16	earn	earn	VERB
fsr-3842	16	17	by	by	ADP
fsr-3842	16	18	buying	buy	VERB
fsr-3842	16	19	a	a	DET
fsr-3842	16	20	portfolio	portfolio	NOUN
fsr-3842	16	21	claire	claire	PROPN
fsr-3842	16	22	e.	e.	PROPN
fsr-3842	16	23	crutehley	crutehley	PROPN
fsr-3842	16	24	,	,	PUNCT
fsr-3842	16	25	carl	carl	PROPN
fsr-3842	16	26	d.	d.	PROPN
fsr-3842	16	27	hudson	hudson	PROPN
fsr-3842	16	28	,	,	PUNCT
fsr-3842	16	29	and	and	CCONJ
fsr-3842	16	30	marlin	marlin	PROPN
fsr-3842	16	31	r.h	r.h	PROPN
fsr-3842	16	32	.	.	PROPN
fsr-3842	16	33	jensen	jensen	PROPN
fsr-3842	16	34	°	°	VERB
fsr-3842	16	35	303	303	NUM
fsr-3842	16	36	lowder	lowder	PROPN
fsr-3842	16	37	business	business	PROPN
fsr-3842	16	38	building	building	PROPN
fsr-3842	16	39	,	,	PUNCT
fsr-3842	16	40	auburn	auburn	NOUN
fsr-3842	16	41	university	university	PROPN
fsr-3842	16	42	,	,	PUNCT
fsr-3842	16	43	auburn	auburn	NOUN
fsr-3842	16	44	,	,	PUNCT
fsr-3842	16	45	al	al	PROPN
fsr-3842	16	46	36849	36849	NUM
fsr-3842	16	47	,	,	PUNCT
fsr-3842	16	48	fax	fax	NOUN
fsr-3842	16	49	:	:	PUNCT
fsr-3842	16	50	3341844	3341844	NUM
fsr-3842	16	51	-	-	SYM
fsr-3842	16	52	4960	4960	NUM
fsr-3842	16	53	;	;	PUNCT
fsr-3842	16	54	e	e	X
fsr-3842	16	55	-	-	NOUN
fsr-3842	16	56	mail	mail	NOUN
fsr-3842	16	57	:	:	PUNCT
fsr-3842	16	58	claire@business.auburn.edu	claire@business.auburn.edu	X
fsr-3842	16	59	.	.	NOUN
fsr-3842	16	60	2	2	NUM
fsr-3842	16	61	financial	financial	ADJ
fsr-3842	16	62	services	service	NOUN
fsr-3842	16	63	review	review	VERB
fsr-3842	16	64	7(1	7(1	NUM
fsr-3842	16	65	)	)	PUNCT
fsr-3842	16	66	1998	1998	NUM
fsr-3842	16	67	of	of	ADP
fsr-3842	16	68	firms	firm	NOUN
fsr-3842	16	69	targeted	target	VERB
fsr-3842	16	70	by	by	ADP
fsr-3842	16	71	calpers	calper	NOUN
fsr-3842	16	72	and	and	CCONJ
fsr-3842	16	73	whether	whether	SCONJ
fsr-3842	16	74	the	the	DET
fsr-3842	16	75	success	success	NOUN
fsr-3842	16	76	of	of	ADP
fsr-3842	16	77	calpers	calper	NOUN
fsr-3842	16	78	'	'	PART
fsr-3842	16	79	activism	activism	NOUN
fsr-3842	16	80	in	in	ADP
fsr-3842	16	81	the	the	DET
fsr-3842	16	82	hanson	hanson	PROPN
fsr-3842	16	83	era	era	PROPN
fsr-3842	16	84	differs	differ	VERB
fsr-3842	16	85	from	from	ADP
fsr-3842	16	86	the	the	DET
fsr-3842	16	87	post	post	ADJ
fsr-3842	16	88	-	-	ADJ
fsr-3842	16	89	hanson	hanson	ADJ
fsr-3842	16	90	era	era	NOUN
fsr-3842	16	91	.	.	PUNCT
fsr-3842	17	1	ii	ii	PROPN
fsr-3842	17	2	.	.	PUNCT
fsr-3842	17	3	background	background	PROPN
fsr-3842	17	4	the	the	DET
fsr-3842	17	5	history	history	NOUN
fsr-3842	17	6	of	of	ADP
fsr-3842	17	7	calpers	calpers	PROPN
fsr-3842	17	8	'	'	PART
fsr-3842	17	9	activism	activism	NOUN
fsr-3842	17	10	can	can	AUX
fsr-3842	17	11	be	be	AUX
fsr-3842	17	12	separated	separate	VERB
fsr-3842	17	13	into	into	ADP
fsr-3842	17	14	three	three	NUM
fsr-3842	17	15	stages	stage	NOUN
fsr-3842	17	16	;	;	PUNCT
fsr-3842	17	17	dale	dale	PROPN
fsr-3842	17	18	hanson	hanson	PROPN
fsr-3842	17	19	,	,	PUNCT
fsr-3842	17	20	cal	cal	ADJ
fsr-3842	17	21	pers	per	NOUN
fsr-3842	17	22	'	'	PART
fsr-3842	17	23	ceo	ceo	NOUN
fsr-3842	17	24	from	from	ADP
fsr-3842	17	25	1987	1987	NUM
fsr-3842	17	26	-	-	SYM
fsr-3842	17	27	1994	1994	NUM
fsr-3842	17	28	,	,	PUNCT
fsr-3842	17	29	spearheaded	spearhead	VERB
fsr-3842	17	30	the	the	DET
fsr-3842	17	31	first	first	ADJ
fsr-3842	17	32	two	two	NUM
fsr-3842	17	33	.	.	PUNCT
fsr-3842	18	1	calpers	calper	NOUN
fsr-3842	18	2	began	begin	VERB
fsr-3842	18	3	its	its	PRON
fsr-3842	18	4	aggressive	aggressive	ADJ
fsr-3842	18	5	shareholder	shareholder	NOUN
fsr-3842	18	6	activism	activism	NOUN
fsr-3842	18	7	campaign	campaign	NOUN
fsr-3842	18	8	in	in	ADP
fsr-3842	18	9	1987	1987	NUM
fsr-3842	18	10	when	when	SCONJ
fsr-3842	18	11	many	many	ADJ
fsr-3842	18	12	boards	board	NOUN
fsr-3842	18	13	of	of	ADP
fsr-3842	18	14	directors	director	NOUN
fsr-3842	18	15	were	be	AUX
fsr-3842	18	16	enacting	enact	VERB
fsr-3842	18	17	poi	poi	PROPN
fsr-3842	18	18	son	son	NOUN
fsr-3842	18	19	pills	pill	NOUN
fsr-3842	18	20	and	and	CCONJ
fsr-3842	18	21	staggered	staggered	ADJ
fsr-3842	18	22	boards	board	NOUN
fsr-3842	18	23	to	to	PART
fsr-3842	18	24	avoid	avoid	VERB
fsr-3842	18	25	being	be	AUX
fsr-3842	18	26	bought	buy	VERB
fsr-3842	18	27	out	out	ADP
fsr-3842	18	28	in	in	ADP
fsr-3842	18	29	the	the	DET
fsr-3842	18	30	very	very	ADV
fsr-3842	18	31	active	active	ADJ
fsr-3842	18	32	takeover	takeover	NOUN
fsr-3842	18	33	market	market	NOUN
fsr-3842	18	34	of	of	ADP
fsr-3842	18	35	the	the	DET
fsr-3842	18	36	1980s	1980s	NUM
fsr-3842	18	37	.	.	PUNCT
fsr-3842	19	1	the	the	DET
fsr-3842	19	2	initial	initial	ADJ
fsr-3842	19	3	activism	activism	NOUN
fsr-3842	19	4	in	in	ADP
fsr-3842	19	5	the	the	DET
fsr-3842	19	6	1987	1987	NUM
fsr-3842	19	7	-	-	SYM
fsr-3842	19	8	1990	1990	NUM
fsr-3842	19	9	time	time	NOUN
fsr-3842	19	10	period	period	NOUN
fsr-3842	19	11	was	be	AUX
fsr-3842	19	12	geared	gear	VERB
fsr-3842	19	13	towards	towards	ADP
fsr-3842	19	14	elimi	elimi	PROPN
fsr-3842	19	15	nating	nate	VERB
fsr-3842	19	16	those	those	DET
fsr-3842	19	17	poison	poison	NOUN
fsr-3842	19	18	pills	pill	NOUN
fsr-3842	19	19	and	and	CCONJ
fsr-3842	19	20	changing	change	VERB
fsr-3842	19	21	corporate	corporate	ADJ
fsr-3842	19	22	governance	governance	NOUN
fsr-3842	19	23	structures	structure	NOUN
fsr-3842	19	24	(	(	PUNCT
fsr-3842	19	25	nesbitt	nesbitt	PROPN
fsr-3842	19	26	,	,	PUNCT
fsr-3842	19	27	1994	1994	NUM
fsr-3842	19	28	)	)	PUNCT
fsr-3842	19	29	.	.	PUNCT
fsr-3842	20	1	for	for	ADP
fsr-3842	20	2	example	example	NOUN
fsr-3842	20	3	,	,	PUNCT
fsr-3842	20	4	in	in	ADP
fsr-3842	20	5	1987	1987	NUM
fsr-3842	20	6	calpers	calper	NOUN
fsr-3842	20	7	introduced	introduce	VERB
fsr-3842	20	8	anti	anti	ADJ
fsr-3842	20	9	-	-	ADJ
fsr-3842	20	10	poison	poison	ADJ
fsr-3842	20	11	pill	pill	NOUN
fsr-3842	20	12	resolutions	resolution	NOUN
fsr-3842	20	13	at	at	ADP
fsr-3842	20	14	amr	amr	PROPN
fsr-3842	20	15	corpora	corpora	PROPN
fsr-3842	20	16	tion	tion	NOUN
fsr-3842	20	17	and	and	CCONJ
fsr-3842	20	18	influenced	influence	VERB
fsr-3842	20	19	management	management	NOUN
fsr-3842	20	20	at	at	ADP
fsr-3842	20	21	aluminum	aluminum	PROPN
fsr-3842	20	22	company	company	NOUN
fsr-3842	20	23	of	of	ADP
fsr-3842	20	24	america	america	PROPN
fsr-3842	20	25	to	to	PART
fsr-3842	20	26	withdraw	withdraw	VERB
fsr-3842	20	27	their	their	PRON
fsr-3842	20	28	poi	poi	PROPN
fsr-3842	20	29	son	son	NOUN
fsr-3842	20	30	pill	pill	NOUN
fsr-3842	20	31	(	(	PUNCT
fsr-3842	20	32	wall	wall	PROPN
fsr-3842	20	33	street	street	PROPN
fsr-3842	20	34	journal	journal	PROPN
fsr-3842	21	1	[	[	X
fsr-3842	21	2	wsj	wsj	PROPN
fsr-3842	21	3	]	]	X
fsr-3842	21	4	,	,	PUNCT
fsr-3842	21	5	kilman	kilman	NOUN
fsr-3842	21	6	,	,	PUNCT
fsr-3842	21	7	1988	1988	NUM
fsr-3842	21	8	)	)	PUNCT
fsr-3842	21	9	.	.	PUNCT
fsr-3842	22	1	in	in	ADP
fsr-3842	22	2	1990	1990	NUM
fsr-3842	22	3	,	,	PUNCT
fsr-3842	22	4	calpers	calpers	PROPN
fsr-3842	22	5	'	'	PART
fsr-3842	22	6	focus	focus	NOUN
fsr-3842	22	7	changed	change	VERB
fsr-3842	22	8	and	and	CCONJ
fsr-3842	22	9	it	it	PRON
fsr-3842	22	10	began	begin	VERB
fsr-3842	22	11	to	to	PART
fsr-3842	22	12	target	target	VERB
fsr-3842	22	13	firms	firm	NOUN
fsr-3842	22	14	based	base	VERB
fsr-3842	22	15	on	on	ADP
fsr-3842	22	16	poor	poor	ADJ
fsr-3842	22	17	stock	stock	NOUN
fsr-3842	22	18	market	market	NOUN
fsr-3842	22	19	performance	performance	NOUN
fsr-3842	22	20	.	.	PUNCT
fsr-3842	23	1	it	it	PRON
fsr-3842	23	2	examined	examine	VERB
fsr-3842	23	3	firms	firm	NOUN
fsr-3842	23	4	in	in	ADP
fsr-3842	23	5	the	the	DET
fsr-3842	23	6	bottom	bottom	ADJ
fsr-3842	23	7	half	half	NOUN
fsr-3842	23	8	of	of	ADP
fsr-3842	23	9	the	the	DET
fsr-3842	23	10	standard	standard	PROPN
fsr-3842	23	11	&	&	CCONJ
fsr-3842	23	12	poors	poors	PROPN
fsr-3842	23	13	(	(	PUNCT
fsr-3842	23	14	s&p	s&p	PROPN
fsr-3842	23	15	)	)	PUNCT
fsr-3842	23	16	500	500	NUM
fsr-3842	23	17	index	index	NOUN
fsr-3842	23	18	and	and	CCONJ
fsr-3842	23	19	hired	hire	VERB
fsr-3842	23	20	consultants	consultant	NOUN
fsr-3842	23	21	to	to	PART
fsr-3842	23	22	prepare	prepare	VERB
fsr-3842	23	23	detailed	detailed	ADJ
fsr-3842	23	24	reports	report	NOUN
fsr-3842	23	25	that	that	PRON
fsr-3842	23	26	were	be	AUX
fsr-3842	23	27	used	use	VERB
fsr-3842	23	28	to	to	PART
fsr-3842	23	29	select	select	VERB
fsr-3842	23	30	the	the	DET
fsr-3842	23	31	finns	finn	NOUN
fsr-3842	23	32	to	to	PART
fsr-3842	23	33	target	target	VERB
fsr-3842	23	34	.	.	PUNCT
fsr-3842	24	1	calpers	calpers	PROPN
fsr-3842	24	2	first	first	ADV
fsr-3842	24	3	sent	send	VERB
fsr-3842	24	4	a	a	DET
fsr-3842	24	5	letter	letter	NOUN
fsr-3842	24	6	to	to	ADP
fsr-3842	24	7	the	the	DET
fsr-3842	24	8	targeted	target	VERB
fsr-3842	24	9	firms	firm	NOUN
fsr-3842	24	10	'	'	PART
fsr-3842	24	11	board	board	NOUN
fsr-3842	24	12	of	of	ADP
fsr-3842	24	13	directors	director	NOUN
fsr-3842	24	14	that	that	PRON
fsr-3842	24	15	asked	ask	VERB
fsr-3842	24	16	management	management	NOUN
fsr-3842	24	17	to	to	PART
fsr-3842	24	18	meet	meet	VERB
fsr-3842	24	19	with	with	ADP
fsr-3842	24	20	calpers	calper	NOUN
fsr-3842	24	21	'	'	PART
fsr-3842	24	22	staff	staff	NOUN
fsr-3842	24	23	and	and	CCONJ
fsr-3842	24	24	discuss	discuss	VERB
fsr-3842	24	25	problems	problem	NOUN
fsr-3842	24	26	with	with	ADP
fsr-3842	24	27	the	the	DET
fsr-3842	24	28	company	company	NOUN
fsr-3842	24	29	.	.	PUNCT
fsr-3842	25	1	in	in	ADP
fsr-3842	25	2	1993	1993	NUM
fsr-3842	25	3	bill	bill	PROPN
fsr-3842	25	4	crist	crist	PROPN
fsr-3842	25	5	,	,	PUNCT
fsr-3842	25	6	the	the	DET
fsr-3842	25	7	president	president	NOUN
fsr-3842	25	8	of	of	ADP
fsr-3842	25	9	calpers	calpers	PROPN
fsr-3842	25	10	'	'	PART
fsr-3842	25	11	board	board	NOUN
fsr-3842	25	12	,	,	PUNCT
fsr-3842	25	13	said	say	VERB
fsr-3842	25	14	,	,	PUNCT
fsr-3842	25	15	"	"	PUNCT
fsr-3842	25	16	our	our	PRON
fsr-3842	25	17	objective	objective	NOUN
fsr-3842	25	18	is	be	AUX
fsr-3842	25	19	not	not	PART
fsr-3842	25	20	to	to	PART
fsr-3842	25	21	instill	instill	VERB
fsr-3842	25	22	fear	fear	NOUN
fsr-3842	25	23	,	,	PUNCT
fsr-3842	25	24	but	but	CCONJ
fsr-3842	25	25	to	to	PART
fsr-3842	25	26	encourage	encourage	VERB
fsr-3842	25	27	good	good	ADJ
fsr-3842	25	28	performance	performance	NOUN
fsr-3842	25	29	"	"	PUNCT
fsr-3842	25	30	(	(	PUNCT
fsr-3842	25	31	the	the	DET
fsr-3842	25	32	washington	washington	PROPN
fsr-3842	25	33	post	post	PROPN
fsr-3842	25	34	,	,	PUNCT
fsr-3842	25	35	vise	vise	NOUN
fsr-3842	25	36	,	,	PUNCT
fsr-3842	25	37	1993	1993	NUM
fsr-3842	25	38	)	)	PUNCT
fsr-3842	25	39	.	.	PUNCT
fsr-3842	26	1	however	however	ADV
fsr-3842	26	2	,	,	PUNCT
fsr-3842	26	3	if	if	SCONJ
fsr-3842	26	4	management	management	NOUN
fsr-3842	26	5	was	be	AUX
fsr-3842	26	6	not	not	PART
fsr-3842	26	7	responsive	responsive	ADJ
fsr-3842	26	8	to	to	ADP
fsr-3842	26	9	calpers	calper	NOUN
fsr-3842	26	10	'	'	PART
fsr-3842	26	11	concerns	concern	NOUN
fsr-3842	26	12	,	,	PUNCT
fsr-3842	26	13	calpers	calpers	PROPN
fsr-3842	26	14	took	take	VERB
fsr-3842	26	15	action	action	NOUN
fsr-3842	26	16	.	.	PUNCT
fsr-3842	27	1	calpers	calpers	PROPN
fsr-3842	27	2	introduced	introduce	VERB
fsr-3842	27	3	shareholder	shareholder	NOUN
fsr-3842	27	4	proposals	proposal	NOUN
fsr-3842	27	5	in	in	ADP
fsr-3842	27	6	many	many	ADJ
fsr-3842	27	7	firms	firm	NOUN
fsr-3842	27	8	,	,	PUNCT
fsr-3842	27	9	voted	vote	VERB
fsr-3842	27	10	against	against	ADP
fsr-3842	27	11	the	the	DET
fsr-3842	27	12	management	management	NOUN
fsr-3842	27	13	slate	slate	NOUN
fsr-3842	27	14	of	of	ADP
fsr-3842	27	15	directors	director	NOUN
fsr-3842	27	16	,	,	PUNCT
fsr-3842	27	17	and	and	CCONJ
fsr-3842	27	18	also	also	ADV
fsr-3842	27	19	retargeted	retargete	VERB
fsr-3842	27	20	firms	firm	NOUN
fsr-3842	27	21	the	the	DET
fsr-3842	27	22	following	following	ADJ
fsr-3842	27	23	year	year	NOUN
fsr-3842	27	24	again	again	ADV
fsr-3842	27	25	asking	ask	VERB
fsr-3842	27	26	for	for	ADP
fsr-3842	27	27	changes	change	NOUN
fsr-3842	27	28	.	.	PUNCT
fsr-3842	28	1	for	for	ADP
fsr-3842	28	2	exam	exam	PROPN
fsr-3842	28	3	ple	ple	PROPN
fsr-3842	28	4	,	,	PUNCT
fsr-3842	28	5	in	in	ADP
fsr-3842	28	6	1994	1994	NUM
fsr-3842	28	7	calpers	calper	NOUN
fsr-3842	28	8	publicly	publicly	ADV
fsr-3842	28	9	announced	announce	VERB
fsr-3842	28	10	its	its	PRON
fsr-3842	28	11	support	support	NOUN
fsr-3842	28	12	for	for	ADP
fsr-3842	28	13	shareholder	shareholder	NOUN
fsr-3842	28	14	activist	activist	NOUN
fsr-3842	28	15	robert	robert	PROPN
fsr-3842	28	16	a.g	a.g	PROPN
fsr-3842	28	17	.	.	PROPN
fsr-3842	28	18	monks	monk	NOUN
fsr-3842	28	19	against	against	ADP
fsr-3842	28	20	the	the	DET
fsr-3842	28	21	wishes	wish	NOUN
fsr-3842	28	22	of	of	ADP
fsr-3842	28	23	sears	sear	NOUN
fsr-3842	28	24	'	'	PART
fsr-3842	28	25	board	board	NOUN
fsr-3842	28	26	of	of	ADP
fsr-3842	28	27	directors	director	NOUN
fsr-3842	28	28	(	(	PUNCT
fsr-3842	28	29	los	los	PROPN
fsr-3842	28	30	angeles	angeles	PROPN
fsr-3842	28	31	times	times	PROPN
fsr-3842	28	32	,	,	PUNCT
fsr-3842	28	33	silverstein	silverstein	NOUN
fsr-3842	28	34	,	,	PUNCT
fsr-3842	28	35	1991	1991	NUM
fsr-3842	28	36	)	)	PUNCT
fsr-3842	28	37	.	.	PUNCT
fsr-3842	29	1	calpers	calpers	PROPN
fsr-3842	29	2	also	also	ADV
fsr-3842	29	3	announced	announce	VERB
fsr-3842	29	4	its	its	PRON
fsr-3842	29	5	intention	intention	NOUN
fsr-3842	29	6	to	to	PART
fsr-3842	29	7	vote	vote	VERB
fsr-3842	29	8	against	against	ADP
fsr-3842	29	9	the	the	DET
fsr-3842	29	10	board	board	NOUN
fsr-3842	29	11	of	of	ADP
fsr-3842	29	12	phillip	phillip	PROPN
fsr-3842	29	13	morris	morris	PROPN
fsr-3842	29	14	when	when	SCONJ
fsr-3842	29	15	they	they	PRON
fsr-3842	29	16	would	would	AUX
fsr-3842	29	17	not	not	PART
fsr-3842	29	18	meet	meet	VERB
fsr-3842	29	19	with	with	ADP
fsr-3842	29	20	calpers	calpers	PROPN
fsr-3842	29	21	'	'	PART
fsr-3842	29	22	staff	staff	NOUN
fsr-3842	29	23	(	(	PUNCT
fsr-3842	29	24	wsj	wsj	PROPN
fsr-3842	29	25	,	,	PUNCT
fsr-3842	29	26	hwang	hwang	PROPN
fsr-3842	29	27	,	,	PUNCT
fsr-3842	29	28	1995	1995	NUM
fsr-3842	29	29	)	)	PUNCT
fsr-3842	29	30	.	.	PUNCT
fsr-3842	30	1	in	in	ADP
fsr-3842	30	2	the	the	DET
fsr-3842	30	3	early	early	ADJ
fsr-3842	30	4	years	year	NOUN
fsr-3842	30	5	,	,	PUNCT
fsr-3842	30	6	the	the	DET
fsr-3842	30	7	fact	fact	NOUN
fsr-3842	30	8	that	that	SCONJ
fsr-3842	30	9	calpers	calpers	PROPN
fsr-3842	30	10	targeted	target	VERB
fsr-3842	30	11	a	a	DET
fsr-3842	30	12	firm	firm	NOUN
fsr-3842	30	13	would	would	AUX
fsr-3842	30	14	only	only	ADV
fsr-3842	30	15	become	become	VERB
fsr-3842	30	16	public	public	ADJ
fsr-3842	30	17	when	when	SCONJ
fsr-3842	30	18	a	a	DET
fsr-3842	30	19	shareholder	shareholder	NOUN
fsr-3842	30	20	resolution	resolution	NOUN
fsr-3842	30	21	was	be	AUX
fsr-3842	30	22	proposed	propose	VERB
fsr-3842	30	23	.	.	PUNCT
fsr-3842	31	1	however	however	ADV
fsr-3842	31	2	,	,	PUNCT
fsr-3842	31	3	in	in	ADP
fsr-3842	31	4	1992	1992	NUM
fsr-3842	31	5	calpers	calper	NOUN
fsr-3842	31	6	began	begin	VERB
fsr-3842	31	7	publicly	publicly	ADV
fsr-3842	31	8	announcing	announce	VERB
fsr-3842	31	9	the	the	DET
fsr-3842	31	10	list	list	NOUN
fsr-3842	31	11	of	of	ADP
fsr-3842	31	12	the	the	DET
fsr-3842	31	13	target	target	NOUN
fsr-3842	31	14	firms	firm	NOUN
fsr-3842	31	15	.	.	PUNCT
fsr-3842	32	1	hanson	hanson	PROPN
fsr-3842	32	2	said	say	VERB
fsr-3842	32	3	,	,	PUNCT
fsr-3842	32	4	"	"	PUNCT
fsr-3842	32	5	a	a	DET
fsr-3842	32	6	number	number	NOUN
fsr-3842	32	7	of	of	ADP
fsr-3842	32	8	companies	company	NOUN
fsr-3842	32	9	wo	will	AUX
fsr-3842	32	10	n't	not	PART
fsr-3842	32	11	move	move	VERB
fsr-3842	32	12	unless	unless	SCONJ
fsr-3842	32	13	they	they	PRON
fsr-3842	32	14	have	have	VERB
fsr-3842	32	15	to	to	PART
fsr-3842	32	16	deal	deal	VERB
fsr-3842	32	17	with	with	ADP
fsr-3842	32	18	[	[	PUNCT
fsr-3842	32	19	the	the	DET
fsr-3842	32	20	problem	problem	NOUN
fsr-3842	32	21	]	]	PUNCT
fsr-3842	32	22	because	because	SCONJ
fsr-3842	32	23	it	it	PRON
fsr-3842	32	24	's	be	AUX
fsr-3842	32	25	in	in	ADP
fsr-3842	32	26	the	the	DET
fsr-3842	32	27	public	public	ADJ
fsr-3842	32	28	eye	eye	NOUN
fsr-3842	32	29	"	"	PUNCT
fsr-3842	32	30	(	(	PUNCT
fsr-3842	32	31	business	business	NOUN
fsr-3842	32	32	week	week	NOUN
fsr-3842	32	33	,	,	PUNCT
fsr-3842	32	34	dobrzynski	dobrzynski	ADJ
fsr-3842	32	35	,	,	PUNCT
fsr-3842	32	36	1992	1992	NUM
fsr-3842	32	37	)	)	PUNCT
fsr-3842	32	38	.	.	PUNCT
fsr-3842	33	1	presently	presently	ADV
fsr-3842	33	2	,	,	PUNCT
fsr-3842	33	3	calpers	calpers	PROPN
fsr-3842	33	4	continues	continue	VERB
fsr-3842	33	5	to	to	PART
fsr-3842	33	6	focus	focus	VERB
fsr-3842	33	7	on	on	ADP
fsr-3842	33	8	poor	poor	ADJ
fsr-3842	33	9	stock	stock	NOUN
fsr-3842	33	10	price	price	NOUN
fsr-3842	33	11	performance	performance	NOUN
fsr-3842	33	12	and	and	CCONJ
fsr-3842	33	13	publicly	publicly	ADV
fsr-3842	33	14	announces	announce	VERB
fsr-3842	33	15	the	the	DET
fsr-3842	33	16	target	target	NOUN
fsr-3842	33	17	firms	firm	NOUN
fsr-3842	33	18	.	.	PUNCT
fsr-3842	34	1	however	however	ADV
fsr-3842	34	2	,	,	PUNCT
fsr-3842	34	3	this	this	DET
fsr-3842	34	4	stage	stage	NOUN
fsr-3842	34	5	is	be	AUX
fsr-3842	34	6	different	different	ADJ
fsr-3842	34	7	due	due	ADP
fsr-3842	34	8	to	to	ADP
fsr-3842	34	9	the	the	DET
fsr-3842	34	10	change	change	NOUN
fsr-3842	34	11	in	in	ADP
fsr-3842	34	12	manage	manage	NOUN
fsr-3842	34	13	ment	ment	ADJ
fsr-3842	34	14	styles	style	NOUN
fsr-3842	34	15	;	;	PUNCT
fsr-3842	34	16	"	"	PUNCT
fsr-3842	34	17	to	to	PART
fsr-3842	34	18	be	be	AUX
fsr-3842	34	19	less	less	ADV
fsr-3842	34	20	visible	visible	ADJ
fsr-3842	34	21	is	be	AUX
fsr-3842	34	22	not	not	PART
fsr-3842	34	23	to	to	PART
fsr-3842	34	24	be	be	AUX
fsr-3842	34	25	less	less	ADV
fsr-3842	34	26	effective	effective	ADJ
fsr-3842	34	27	,	,	PUNCT
fsr-3842	34	28	"	"	PUNCT
fsr-3842	34	29	says	say	VERB
fsr-3842	34	30	current	current	ADJ
fsr-3842	34	31	ceo	ceo	PROPN
fsr-3842	34	32	,	,	PUNCT
fsr-3842	34	33	james	james	PROPN
fsr-3842	34	34	bur	bur	PROPN
fsr-3842	34	35	ton	ton	PROPN
fsr-3842	34	36	.	.	PUNCT
fsr-3842	35	1	however	however	ADV
fsr-3842	35	2	,	,	PUNCT
fsr-3842	35	3	robert	robert	PROPN
fsr-3842	35	4	monks	monks	PROPN
fsr-3842	35	5	,	,	PUNCT
fsr-3842	35	6	a	a	DET
fsr-3842	35	7	shareholder	shareholder	NOUN
fsr-3842	35	8	activist	activist	NOUN
fsr-3842	35	9	through	through	ADP
fsr-3842	35	10	lens	lens	NOUN
fsr-3842	35	11	corporation	corporation	NOUN
fsr-3842	35	12	says	say	VERB
fsr-3842	35	13	,	,	PUNCT
fsr-3842	35	14	"	"	PUNCT
fsr-3842	35	15	what	what	PRON
fsr-3842	35	16	gave	give	VERB
fsr-3842	35	17	calpers	calper	NOUN
fsr-3842	35	18	the	the	DET
fsr-3842	35	19	power	power	NOUN
fsr-3842	35	20	was	be	AUX
fsr-3842	35	21	the	the	DET
fsr-3842	35	22	personality	personality	NOUN
fsr-3842	35	23	of	of	ADP
fsr-3842	35	24	dale	dale	PROPN
fsr-3842	35	25	hanson	hanson	PROPN
fsr-3842	35	26	"	"	PUNCT
fsr-3842	35	27	(	(	PUNCT
fsr-3842	35	28	rehfeld	rehfeld	NOUN
fsr-3842	35	29	,	,	PUNCT
fsr-3842	35	30	1997	1997	NUM
fsr-3842	35	31	)	)	PUNCT
fsr-3842	35	32	.	.	PUNCT
fsr-3842	36	1	in	in	ADP
fsr-3842	36	2	1995	1995	NUM
fsr-3842	36	3	,	,	PUNCT
fsr-3842	36	4	the	the	DET
fsr-3842	36	5	first	first	ADJ
fsr-3842	36	6	year	year	NOUN
fsr-3842	36	7	after	after	SCONJ
fsr-3842	36	8	hanson	hanson	PROPN
fsr-3842	36	9	resigned	resign	VERB
fsr-3842	36	10	,	,	PUNCT
fsr-3842	36	11	richard	richard	PROPN
fsr-3842	36	12	h.	h.	PROPN
fsr-3842	36	13	koppes	koppes	PROPN
fsr-3842	36	14	,	,	PUNCT
fsr-3842	36	15	general	general	ADJ
fsr-3842	36	16	counsel	counsel	NOUN
fsr-3842	36	17	of	of	ADP
fsr-3842	36	18	calpers	calpers	PROPN
fsr-3842	36	19	,	,	PUNCT
fsr-3842	36	20	announced	announce	VERB
fsr-3842	36	21	the	the	DET
fsr-3842	36	22	targeting	targeting	NOUN
fsr-3842	36	23	of	of	ADP
fsr-3842	36	24	nine	nine	NUM
fsr-3842	36	25	firms	firm	NOUN
fsr-3842	36	26	and	and	CCONJ
fsr-3842	36	27	promised	promise	VERB
fsr-3842	36	28	to	to	PART
fsr-3842	36	29	file	file	VERB
fsr-3842	36	30	shareholder	shareholder	NOUN
fsr-3842	36	31	proposals	proposal	NOUN
fsr-3842	36	32	for	for	ADP
fsr-3842	36	33	com	com	NOUN
fsr-3842	36	34	panies	panie	NOUN
fsr-3842	36	35	who	who	PRON
fsr-3842	36	36	did	do	AUX
fsr-3842	36	37	n't	not	PART
fsr-3842	36	38	make	make	VERB
fsr-3842	36	39	significant	significant	ADJ
fsr-3842	36	40	changes	change	NOUN
fsr-3842	36	41	in	in	ADP
fsr-3842	36	42	response	response	NOUN
fsr-3842	36	43	to	to	ADP
fsr-3842	36	44	calpers	calpers	PROPN
fsr-3842	36	45	(	(	PUNCT
fsr-3842	36	46	business	business	NOUN
fsr-3842	36	47	week	week	NOUN
fsr-3842	36	48	,	,	PUNCT
fsr-3842	36	49	schine	schine	NOUN
fsr-3842	36	50	,	,	PUNCT
fsr-3842	36	51	1995	1995	NUM
fsr-3842	36	52	)	)	PUNCT
fsr-3842	36	53	.	.	PUNCT
fsr-3842	37	1	in	in	ADP
fsr-3842	37	2	1996	1996	NUM
fsr-3842	37	3	,	,	PUNCT
fsr-3842	37	4	koppes	koppe	NOUN
fsr-3842	37	5	left	leave	VERB
fsr-3842	37	6	calpers	calpers	PROPN
fsr-3842	37	7	and	and	CCONJ
fsr-3842	37	8	he	he	PRON
fsr-3842	37	9	now	now	ADV
fsr-3842	37	10	feels	feel	VERB
fsr-3842	37	11	calpers	calpers	PROPN
fsr-3842	37	12	is	be	AUX
fsr-3842	37	13	not	not	PART
fsr-3842	37	14	continuing	continue	VERB
fsr-3842	37	15	the	the	DET
fsr-3842	37	16	public	public	ADJ
fsr-3842	37	17	activism	activism	NOUN
fsr-3842	37	18	as	as	SCONJ
fsr-3842	37	19	it	it	PRON
fsr-3842	37	20	should	should	AUX
fsr-3842	37	21	;	;	PUNCT
fsr-3842	37	22	koppes	koppe	NOUN
fsr-3842	37	23	said	say	VERB
fsr-3842	37	24	,	,	PUNCT
fsr-3842	37	25	"	"	PUNCT
fsr-3842	37	26	five	five	NUM
fsr-3842	37	27	years	year	NOUN
fsr-3842	37	28	of	of	ADP
fsr-3842	37	29	going	go	VERB
fsr-3842	37	30	to	to	ADP
fsr-3842	37	31	the	the	DET
fsr-3842	37	32	press	press	NOUN
fsr-3842	37	33	,	,	PUNCT
fsr-3842	37	34	now	now	ADV
fsr-3842	37	35	they	they	PRON
fsr-3842	37	36	do	do	AUX
fsr-3842	37	37	n't	not	PART
fsr-3842	37	38	go	go	VERB
fsr-3842	37	39	"	"	PUNCT
fsr-3842	37	40	(	(	PUNCT
fsr-3842	37	41	rehfeld	rehfeld	NOUN
fsr-3842	37	42	,	,	PUNCT
fsr-3842	37	43	1997	1997	NUM
fsr-3842	37	44	)	)	PUNCT
fsr-3842	37	45	.	.	PUNCT
fsr-3842	38	1	the	the	DET
fsr-3842	38	2	size	size	NOUN
fsr-3842	38	3	of	of	ADP
fsr-3842	38	4	the	the	DET
fsr-3842	38	5	firms	firm	NOUN
fsr-3842	38	6	that	that	PRON
fsr-3842	38	7	are	be	AUX
fsr-3842	38	8	targeted	target	VERB
fsr-3842	38	9	also	also	ADV
fsr-3842	38	10	changed	change	VERB
fsr-3842	38	11	following	follow	VERB
fsr-3842	38	12	hanson	hanson	PROPN
fsr-3842	38	13	's	's	PART
fsr-3842	38	14	shareholder	shareholder	NOUN
fsr-3842	38	15	wealth	wealth	NOUN
fsr-3842	38	16	effects	effect	VERB
fsr-3842	38	17	3	3	NUM
fsr-3842	38	18	departure	departure	NOUN
fsr-3842	38	19	.	.	PUNCT
fsr-3842	39	1	unlike	unlike	ADP
fsr-3842	39	2	early	early	ADJ
fsr-3842	39	3	years	year	NOUN
fsr-3842	39	4	when	when	SCONJ
fsr-3842	39	5	very	very	ADV
fsr-3842	39	6	large	large	ADJ
fsr-3842	39	7	firms	firm	NOUN
fsr-3842	39	8	were	be	AUX
fsr-3842	39	9	targeted	target	VERB
fsr-3842	39	10	,	,	PUNCT
fsr-3842	39	11	now	now	ADV
fsr-3842	39	12	mainly	mainly	ADV
fsr-3842	39	13	midsize	midsize	VERB
fsr-3842	39	14	companies	company	NOUN
fsr-3842	39	15	are	be	AUX
fsr-3842	39	16	targeted	target	VERB
fsr-3842	39	17	.	.	PUNCT
fsr-3842	40	1	calpers	calpers	PROPN
fsr-3842	40	2	'	'	PART
fsr-3842	40	3	strategy	strategy	NOUN
fsr-3842	40	4	changed	change	VERB
fsr-3842	40	5	from	from	ADP
fsr-3842	40	6	targeting	target	VERB
fsr-3842	40	7	firms	firm	NOUN
fsr-3842	40	8	such	such	ADJ
fsr-3842	40	9	as	as	ADP
fsr-3842	40	10	ibm	ibm	PROPN
fsr-3842	40	11	to	to	ADP
fsr-3842	40	12	firms	firm	NOUN
fsr-3842	40	13	such	such	ADJ
fsr-3842	40	14	as	as	ADP
fsr-3842	40	15	edison	edison	PROPN
fsr-3842	40	16	brothers	brother	NOUN
fsr-3842	40	17	stores	stores	PROPN
fsr-3842	40	18	and	and	CCONJ
fsr-3842	40	19	venture	venture	NOUN
fsr-3842	40	20	stores	store	NOUN
fsr-3842	40	21	incorporated	incorporate	VERB
fsr-3842	40	22	.	.	PUNCT
fsr-3842	41	1	rehfeld	rehfeld	PROPN
fsr-3842	41	2	(	(	PUNCT
fsr-3842	41	3	1997	1997	NUM
fsr-3842	41	4	)	)	PUNCT
fsr-3842	41	5	documents	document	NOUN
fsr-3842	41	6	charming	charm	VERB
fsr-3842	41	7	shoppes	shoppe	NOUN
fsr-3842	41	8	'	'	PART
fsr-3842	41	9	experience	experience	NOUN
fsr-3842	41	10	with	with	ADP
fsr-3842	41	11	being	be	AUX
fsr-3842	41	12	targeted	target	VERB
fsr-3842	41	13	in	in	ADP
fsr-3842	41	14	1996	1996	NUM
fsr-3842	41	15	during	during	ADP
fsr-3842	41	16	the	the	DET
fsr-3842	41	17	post	post	ADJ
fsr-3842	41	18	-	-	ADJ
fsr-3842	41	19	hanson	hanson	ADJ
fsr-3842	41	20	era	era	NOUN
fsr-3842	41	21	.	.	PUNCT
fsr-3842	42	1	the	the	DET
fsr-3842	42	2	treasurer	treasurer	NOUN
fsr-3842	42	3	of	of	ADP
fsr-3842	42	4	charming	charming	ADJ
fsr-3842	42	5	shoppes	shoppes	PROPN
fsr-3842	42	6	,	,	PUNCT
fsr-3842	42	7	bernard	bernard	PROPN
fsr-3842	42	8	brodsky	brodsky	PROPN
fsr-3842	42	9	,	,	PUNCT
fsr-3842	42	10	received	receive	VERB
fsr-3842	42	11	calpers	calper	NOUN
fsr-3842	42	12	'	'	PART
fsr-3842	42	13	letter	letter	NOUN
fsr-3842	42	14	and	and	CCONJ
fsr-3842	42	15	agreed	agree	VERB
fsr-3842	42	16	to	to	PART
fsr-3842	42	17	meet	meet	VERB
fsr-3842	42	18	with	with	ADP
fsr-3842	42	19	calpers	calper	NOUN
fsr-3842	42	20	'	'	PART
fsr-3842	42	21	representatives	representative	NOUN
fsr-3842	42	22	.	.	PUNCT
fsr-3842	43	1	in	in	ADP
fsr-3842	43	2	the	the	DET
fsr-3842	43	3	meeting	meeting	NOUN
fsr-3842	43	4	,	,	PUNCT
fsr-3842	43	5	he	he	PRON
fsr-3842	43	6	answered	answer	VERB
fsr-3842	43	7	questions	question	NOUN
fsr-3842	43	8	and	and	CCONJ
fsr-3842	43	9	documented	document	VERB
fsr-3842	43	10	changes	change	NOUN
fsr-3842	43	11	being	be	AUX
fsr-3842	43	12	made	make	VERB
fsr-3842	43	13	.	.	PUNCT
fsr-3842	44	1	however	however	ADV
fsr-3842	44	2	,	,	PUNCT
fsr-3842	44	3	there	there	PRON
fsr-3842	44	4	was	be	VERB
fsr-3842	44	5	no	no	DET
fsr-3842	44	6	follow	follow	NOUN
fsr-3842	44	7	-	-	PUNCT
fsr-3842	44	8	up	up	NOUN
fsr-3842	44	9	to	to	ADP
fsr-3842	44	10	this	this	DET
fsr-3842	44	11	meeting	meeting	NOUN
fsr-3842	44	12	from	from	ADP
fsr-3842	44	13	calpers	calpers	PROPN
fsr-3842	44	14	.	.	PUNCT
fsr-3842	45	1	after	after	SCONJ
fsr-3842	45	2	several	several	ADJ
fsr-3842	45	3	months	month	NOUN
fsr-3842	45	4	brodsky	brodsky	PROPN
fsr-3842	45	5	called	call	VERB
fsr-3842	45	6	to	to	PART
fsr-3842	45	7	find	find	VERB
fsr-3842	45	8	out	out	ADP
fsr-3842	45	9	whether	whether	SCONJ
fsr-3842	45	10	calpers	calper	NOUN
fsr-3842	45	11	had	have	VERB
fsr-3842	45	12	more	more	ADJ
fsr-3842	45	13	concerns	concern	NOUN
fsr-3842	45	14	and	and	CCONJ
fsr-3842	45	15	was	be	AUX
fsr-3842	45	16	told	tell	VERB
fsr-3842	45	17	channing	channing	PROPN
fsr-3842	45	18	shoppes	shoppes	PROPN
fsr-3842	45	19	was	be	AUX
fsr-3842	45	20	fine	fine	ADJ
fsr-3842	45	21	even	even	ADV
fsr-3842	45	22	though	though	SCONJ
fsr-3842	45	23	over	over	ADP
fsr-3842	45	24	that	that	DET
fsr-3842	45	25	time	time	NOUN
fsr-3842	45	26	period	period	NOUN
fsr-3842	45	27	they	they	PRON
fsr-3842	45	28	recorded	record	VERB
fsr-3842	45	29	losses	loss	NOUN
fsr-3842	45	30	and	and	CCONJ
fsr-3842	45	31	their	their	PRON
fsr-3842	45	32	stock	stock	NOUN
fsr-3842	45	33	price	price	NOUN
fsr-3842	45	34	fluctuated	fluctuate	VERB
fsr-3842	45	35	greatly	greatly	ADV
fsr-3842	45	36	.	.	PUNCT
fsr-3842	46	1	there	there	PRON
fsr-3842	46	2	have	have	AUX
fsr-3842	46	3	been	be	AUX
fsr-3842	46	4	several	several	ADJ
fsr-3842	46	5	empirical	empirical	ADJ
fsr-3842	46	6	studies	study	NOUN
fsr-3842	46	7	documenting	document	VERB
fsr-3842	46	8	the	the	DET
fsr-3842	46	9	stock	stock	NOUN
fsr-3842	46	10	return	return	NOUN
fsr-3842	46	11	effects	effect	NOUN
fsr-3842	46	12	of	of	ADP
fsr-3842	46	13	shareholder	shareholder	NOUN
fsr-3842	46	14	activism	activism	NOUN
fsr-3842	46	15	.	.	PUNCT
fsr-3842	47	1	nesbitt	nesbitt	PROPN
fsr-3842	47	2	(	(	PUNCT
fsr-3842	47	3	1994	1994	NUM
fsr-3842	47	4	)	)	PUNCT
fsr-3842	47	5	documents	document	NOUN
fsr-3842	47	6	huge	huge	ADJ
fsr-3842	47	7	gains	gain	NOUN
fsr-3842	47	8	to	to	ADP
fsr-3842	47	9	shareholders	shareholder	NOUN
fsr-3842	47	10	following	follow	VERB
fsr-3842	47	11	the	the	DET
fsr-3842	47	12	calpers	calper	NOUN
fsr-3842	47	13	'	'	PART
fsr-3842	47	14	letter	letter	NOUN
fsr-3842	47	15	targeting	target	VERB
fsr-3842	47	16	a	a	DET
fsr-3842	47	17	firm	firm	NOUN
fsr-3842	47	18	for	for	ADP
fsr-3842	47	19	poor	poor	ADJ
fsr-3842	47	20	performance	performance	NOUN
fsr-3842	47	21	.	.	PUNCT
fsr-3842	48	1	he	he	PRON
fsr-3842	48	2	does	do	AUX
fsr-3842	48	3	not	not	PART
fsr-3842	48	4	find	find	VERB
fsr-3842	48	5	gains	gain	NOUN
fsr-3842	48	6	for	for	ADP
fsr-3842	48	7	firms	firm	NOUN
fsr-3842	48	8	tar	tar	NOUN
fsr-3842	48	9	geted	get	VERB
fsr-3842	48	10	for	for	ADP
fsr-3842	48	11	corporate	corporate	ADJ
fsr-3842	48	12	governance	governance	NOUN
fsr-3842	48	13	issues	issue	NOUN
fsr-3842	48	14	.	.	PUNCT
fsr-3842	49	1	these	these	DET
fsr-3842	49	2	results	result	NOUN
fsr-3842	49	3	are	be	AUX
fsr-3842	49	4	for	for	ADP
fsr-3842	49	5	companies	company	NOUN
fsr-3842	49	6	targeted	target	VERB
fsr-3842	49	7	from	from	ADP
fsr-3842	49	8	1990	1990	NUM
fsr-3842	49	9	-	-	SYM
fsr-3842	49	10	1992	1992	NUM
fsr-3842	49	11	,	,	PUNCT
fsr-3842	49	12	during	during	ADP
fsr-3842	49	13	hanson	hanson	PROPN
fsr-3842	49	14	's	's	PART
fsr-3842	49	15	tenure	tenure	NOUN
fsr-3842	49	16	as	as	ADP
fsr-3842	49	17	ceo	ceo	NOUN
fsr-3842	49	18	of	of	ADP
fsr-3842	49	19	calpers	calpers	PROPN
fsr-3842	49	20	.	.	PUNCT
fsr-3842	50	1	smith	smith	PROPN
fsr-3842	50	2	(	(	PUNCT
fsr-3842	50	3	1996	1996	NUM
fsr-3842	50	4	)	)	PUNCT
fsr-3842	50	5	documents	document	NOUN
fsr-3842	50	6	significant	significant	ADJ
fsr-3842	50	7	positive	positive	ADJ
fsr-3842	50	8	two	two	NUM
fsr-3842	50	9	-	-	PUNCT
fsr-3842	50	10	day	day	NOUN
fsr-3842	50	11	and	and	CCONJ
fsr-3842	50	12	long	long	ADJ
fsr-3842	50	13	-	-	PUNCT
fsr-3842	50	14	term	term	NOUN
fsr-3842	50	15	stock	stock	NOUN
fsr-3842	50	16	returns	return	NOUN
fsr-3842	50	17	fol	fol	ADP
fsr-3842	50	18	lowing	low	VERB
fsr-3842	50	19	the	the	DET
fsr-3842	50	20	announcement	announcement	NOUN
fsr-3842	50	21	that	that	SCONJ
fsr-3842	50	22	calpers	calpers	PROPN
fsr-3842	50	23	is	be	AUX
fsr-3842	50	24	targeting	target	VERB
fsr-3842	50	25	a	a	DET
fsr-3842	50	26	firm	firm	NOUN
fsr-3842	50	27	for	for	ADP
fsr-3842	50	28	performance	performance	NOUN
fsr-3842	50	29	in	in	ADP
fsr-3842	50	30	1989	1989	NUM
fsr-3842	50	31	-	-	SYM
fsr-3842	50	32	1993	1993	NUM
fsr-3842	50	33	.	.	PUNCT
fsr-3842	51	1	wahal	wahal	PROPN
fsr-3842	51	2	(	(	PUNCT
fsr-3842	51	3	1996	1996	NUM
fsr-3842	51	4	)	)	PUNCT
fsr-3842	52	1	studies	study	NOUN
fsr-3842	52	2	activism	activism	NOUN
fsr-3842	52	3	by	by	ADP
fsr-3842	52	4	several	several	ADJ
fsr-3842	52	5	pension	pension	NOUN
fsr-3842	52	6	funds	fund	NOUN
fsr-3842	52	7	.	.	PUNCT
fsr-3842	53	1	on	on	ADP
fsr-3842	53	2	average	average	ADJ
fsr-3842	53	3	,	,	PUNCT
fsr-3842	53	4	he	he	PRON
fsr-3842	53	5	finds	find	VERB
fsr-3842	53	6	neither	neither	CCONJ
fsr-3842	53	7	long	long	ADJ
fsr-3842	53	8	-	-	PUNCT
fsr-3842	53	9	term	term	NOUN
fsr-3842	53	10	nor	nor	CCONJ
fsr-3842	53	11	short	short	ADJ
fsr-3842	53	12	-	-	PUNCT
fsr-3842	53	13	term	term	NOUN
fsr-3842	53	14	abnormal	abnormal	ADJ
fsr-3842	53	15	stock	stock	NOUN
fsr-3842	53	16	returns	return	NOUN
fsr-3842	53	17	following	follow	VERB
fsr-3842	53	18	pension	pension	NOUN
fsr-3842	53	19	fund	fund	NOUN
fsr-3842	53	20	activism	activism	NOUN
fsr-3842	53	21	.	.	PUNCT
fsr-3842	54	1	how	how	SCONJ
fsr-3842	54	2	ever	ever	ADV
fsr-3842	54	3	,	,	PUNCT
fsr-3842	54	4	he	he	PRON
fsr-3842	54	5	finds	find	VERB
fsr-3842	54	6	evidence	evidence	NOUN
fsr-3842	54	7	that	that	SCONJ
fsr-3842	54	8	when	when	SCONJ
fsr-3842	54	9	calpers	calpers	PROPN
fsr-3842	54	10	pursues	pursue	VERB
fsr-3842	54	11	the	the	DET
fsr-3842	54	12	activism	activism	NOUN
fsr-3842	54	13	,	,	PUNCT
fsr-3842	54	14	there	there	PRON
fsr-3842	54	15	are	be	VERB
fsr-3842	54	16	short	short	ADJ
fsr-3842	54	17	-	-	PUNCT
fsr-3842	54	18	term	term	NOUN
fsr-3842	54	19	(	(	PUNCT
fsr-3842	54	20	six	six	NUM
fsr-3842	54	21	-	-	PUNCT
fsr-3842	54	22	day	day	NOUN
fsr-3842	54	23	)	)	PUNCT
fsr-3842	54	24	abnormal	abnormal	ADJ
fsr-3842	54	25	gains	gain	NOUN
fsr-3842	54	26	in	in	ADP
fsr-3842	54	27	the	the	DET
fsr-3842	54	28	market	market	NOUN
fsr-3842	54	29	following	follow	VERB
fsr-3842	54	30	the	the	DET
fsr-3842	54	31	day	day	NOUN
fsr-3842	54	32	a	a	DET
fsr-3842	54	33	letter	letter	NOUN
fsr-3842	54	34	is	be	AUX
fsr-3842	54	35	sent	send	VERB
fsr-3842	54	36	to	to	ADP
fsr-3842	54	37	management	management	NOUN
fsr-3842	54	38	.	.	PUNCT
fsr-3842	55	1	neither	neither	CCONJ
fsr-3842	55	2	smith	smith	NOUN
fsr-3842	55	3	nor	nor	CCONJ
fsr-3842	55	4	wahal	wahal	NOUN
fsr-3842	55	5	find	find	VERB
fsr-3842	55	6	any	any	DET
fsr-3842	55	7	evidence	evidence	NOUN
fsr-3842	55	8	of	of	ADP
fsr-3842	55	9	improvement	improvement	NOUN
fsr-3842	55	10	in	in	ADP
fsr-3842	55	11	accounting	accounting	NOUN
fsr-3842	55	12	measures	measure	NOUN
fsr-3842	55	13	fol	fol	NOUN
fsr-3842	55	14	lowing	low	VERB
fsr-3842	55	15	the	the	DET
fsr-3842	55	16	activism	activism	NOUN
fsr-3842	55	17	.	.	PUNCT
fsr-3842	56	1	strickland	strickland	NOUN
fsr-3842	56	2	,	,	PUNCT
fsr-3842	56	3	wiles	wile	NOUN
fsr-3842	56	4	,	,	PUNCT
fsr-3842	56	5	and	and	CCONJ
fsr-3842	56	6	zenner	zenner	NOUN
fsr-3842	56	7	(	(	PUNCT
fsr-3842	56	8	1996	1996	NUM
fsr-3842	56	9	)	)	PUNCT
fsr-3842	56	10	find	find	VERB
fsr-3842	56	11	significant	significant	ADJ
fsr-3842	56	12	positive	positive	ADJ
fsr-3842	56	13	two	two	NUM
fsr-3842	56	14	-	-	PUNCT
fsr-3842	56	15	day	day	NOUN
fsr-3842	56	16	stock	stock	NOUN
fsr-3842	56	17	returns	return	NOUN
fsr-3842	56	18	to	to	ADP
fsr-3842	56	19	the	the	DET
fsr-3842	56	20	announcement	announcement	NOUN
fsr-3842	56	21	that	that	SCONJ
fsr-3842	56	22	the	the	DET
fsr-3842	56	23	shareholder	shareholder	NOUN
fsr-3842	56	24	activist	activist	PROPN
fsr-3842	56	25	group	group	PROPN
fsr-3842	56	26	united	united	PROPN
fsr-3842	56	27	shareholder	shareholder	PROPN
fsr-3842	56	28	association	association	PROPN
fsr-3842	56	29	(	(	PUNCT
fsr-3842	56	30	usa	usa	PROPN
fsr-3842	56	31	)	)	PUNCT
fsr-3842	56	32	negotiated	negotiate	VERB
fsr-3842	56	33	an	an	DET
fsr-3842	56	34	agreement	agreement	NOUN
fsr-3842	56	35	with	with	ADP
fsr-3842	56	36	management	management	NOUN
fsr-3842	56	37	.	.	PUNCT
fsr-3842	57	1	however	however	ADV
fsr-3842	57	2	,	,	PUNCT
fsr-3842	57	3	unlike	unlike	ADP
fsr-3842	57	4	the	the	DET
fsr-3842	57	5	evidence	evidence	NOUN
fsr-3842	57	6	on	on	ADP
fsr-3842	57	7	cal	cal	ADJ
fsr-3842	57	8	pers	per	NOUN
fsr-3842	57	9	'	'	PART
fsr-3842	57	10	activism	activism	NOUN
fsr-3842	57	11	by	by	ADP
fsr-3842	57	12	smith	smith	PROPN
fsr-3842	57	13	and	and	CCONJ
fsr-3842	57	14	wahal	wahal	NOUN
fsr-3842	57	15	,	,	PUNCT
fsr-3842	57	16	they	they	PRON
fsr-3842	57	17	do	do	AUX
fsr-3842	57	18	not	not	PART
fsr-3842	57	19	find	find	VERB
fsr-3842	57	20	the	the	DET
fsr-3842	57	21	significant	significant	ADJ
fsr-3842	57	22	returns	return	NOUN
fsr-3842	57	23	at	at	ADP
fsr-3842	57	24	the	the	DET
fsr-3842	57	25	announcement	announcement	NOUN
fsr-3842	57	26	of	of	ADP
fsr-3842	57	27	the	the	DET
fsr-3842	57	28	shareholder	shareholder	NOUN
fsr-3842	57	29	proposal	proposal	NOUN
fsr-3842	57	30	.	.	PUNCT
fsr-3842	58	1	therefore	therefore	ADV
fsr-3842	58	2	,	,	PUNCT
fsr-3842	58	3	the	the	DET
fsr-3842	58	4	usa	usa	PROPN
fsr-3842	58	5	activism	activism	NOUN
fsr-3842	58	6	itself	itself	PRON
fsr-3842	58	7	is	be	AUX
fsr-3842	58	8	not	not	PART
fsr-3842	58	9	good	good	ADJ
fsr-3842	58	10	news	news	NOUN
fsr-3842	58	11	,	,	PUNCT
fsr-3842	58	12	only	only	ADV
fsr-3842	58	13	the	the	DET
fsr-3842	58	14	successful	successful	ADJ
fsr-3842	58	15	resolution	resolution	NOUN
fsr-3842	58	16	causes	cause	VERB
fsr-3842	58	17	increased	increase	VERB
fsr-3842	58	18	shareholder	shareholder	NOUN
fsr-3842	58	19	value	value	NOUN
fsr-3842	58	20	.	.	PUNCT
fsr-3842	59	1	opler	opl	ADJ
fsr-3842	59	2	and	and	CCONJ
fsr-3842	59	3	sokobin	sokobin	NOUN
fsr-3842	59	4	(	(	PUNCT
fsr-3842	59	5	1995	1995	NUM
fsr-3842	59	6	)	)	PUNCT
fsr-3842	59	7	study	study	VERB
fsr-3842	59	8	the	the	DET
fsr-3842	59	9	effects	effect	NOUN
fsr-3842	59	10	of	of	ADP
fsr-3842	59	11	activism	activism	NOUN
fsr-3842	59	12	by	by	ADP
fsr-3842	59	13	the	the	DET
fsr-3842	59	14	council	council	PROPN
fsr-3842	59	15	of	of	ADP
fsr-3842	59	16	institutional	institutional	ADJ
fsr-3842	59	17	investors	investor	NOUN
fsr-3842	59	18	,	,	PUNCT
fsr-3842	59	19	and	and	CCONJ
fsr-3842	59	20	find	find	VERB
fsr-3842	59	21	that	that	SCONJ
fsr-3842	59	22	in	in	ADP
fsr-3842	59	23	the	the	DET
fsr-3842	59	24	long	long	ADJ
fsr-3842	59	25	-	-	PUNCT
fsr-3842	59	26	term	term	NOUN
fsr-3842	59	27	there	there	PRON
fsr-3842	59	28	are	be	VERB
fsr-3842	59	29	significant	significant	ADJ
fsr-3842	59	30	gains	gain	NOUN
fsr-3842	59	31	to	to	ADP
fsr-3842	59	32	the	the	DET
fsr-3842	59	33	shareholders	shareholder	NOUN
fsr-3842	59	34	of	of	ADP
fsr-3842	59	35	the	the	DET
fsr-3842	59	36	targeted	target	VERB
fsr-3842	59	37	firms	firm	NOUN
fsr-3842	59	38	.	.	PUNCT
fsr-3842	60	1	the	the	DET
fsr-3842	60	2	council	council	PROPN
fsr-3842	60	3	of	of	ADP
fsr-3842	60	4	individual	individual	ADJ
fsr-3842	60	5	investors	investor	NOUN
fsr-3842	60	6	is	be	AUX
fsr-3842	60	7	a	a	DET
fsr-3842	60	8	group	group	NOUN
fsr-3842	60	9	that	that	PRON
fsr-3842	60	10	was	be	AUX
fsr-3842	60	11	formed	form	VERB
fsr-3842	60	12	by	by	ADP
fsr-3842	60	13	calpers	calper	NOUN
fsr-3842	60	14	,	,	PUNCT
fsr-3842	60	15	but	but	CCONJ
fsr-3842	60	16	it	it	PRON
fsr-3842	60	17	has	have	VERB
fsr-3842	60	18	a	a	DET
fsr-3842	60	19	low	low	ADJ
fsr-3842	60	20	profile	profile	NOUN
fsr-3842	60	21	targeting	targeting	NOUN
fsr-3842	60	22	strategy	strategy	NOUN
fsr-3842	60	23	.	.	PUNCT
fsr-3842	61	1	akhigbe	akhigbe	NOUN
fsr-3842	61	2	,	,	PUNCT
fsr-3842	61	3	madura	madura	NOUN
fsr-3842	61	4	,	,	PUNCT
fsr-3842	61	5	and	and	CCONJ
fsr-3842	61	6	tucker	tucker	PROPN
fsr-3842	61	7	(	(	PUNCT
fsr-3842	61	8	1997	1997	NUM
fsr-3842	61	9	)	)	PUNCT
fsr-3842	61	10	study	study	NOUN
fsr-3842	61	11	both	both	CCONJ
fsr-3842	61	12	insti	insti	VERB
fsr-3842	61	13	tutional	tutional	ADJ
fsr-3842	61	14	and	and	CCONJ
fsr-3842	61	15	individual	individual	ADJ
fsr-3842	61	16	activism	activism	NOUN
fsr-3842	61	17	.	.	PUNCT
fsr-3842	62	1	they	they	PRON
fsr-3842	62	2	find	find	VERB
fsr-3842	62	3	positive	positive	ADJ
fsr-3842	62	4	long	long	ADJ
fsr-3842	62	5	-	-	PUNCT
fsr-3842	62	6	term	term	NOUN
fsr-3842	62	7	stock	stock	NOUN
fsr-3842	62	8	returns	return	NOUN
fsr-3842	62	9	from	from	ADP
fsr-3842	62	10	activism	activism	NOUN
fsr-3842	62	11	,	,	PUNCT
fsr-3842	62	12	and	and	CCONJ
fsr-3842	62	13	find	find	VERB
fsr-3842	62	14	that	that	SCONJ
fsr-3842	62	15	activism	activism	NOUN
fsr-3842	62	16	instituted	institute	VERB
fsr-3842	62	17	by	by	ADP
fsr-3842	62	18	individual	individual	ADJ
fsr-3842	62	19	investors	investor	NOUN
fsr-3842	62	20	leads	lead	VERB
fsr-3842	62	21	to	to	ADP
fsr-3842	62	22	higher	high	ADJ
fsr-3842	62	23	stock	stock	NOUN
fsr-3842	62	24	returns	return	NOUN
fsr-3842	62	25	than	than	ADP
fsr-3842	62	26	proposals	proposal	NOUN
fsr-3842	62	27	by	by	ADP
fsr-3842	62	28	institutions	institution	NOUN
fsr-3842	62	29	such	such	ADJ
fsr-3842	62	30	as	as	ADP
fsr-3842	62	31	calpers	calper	NOUN
fsr-3842	62	32	.	.	PUNCT
fsr-3842	63	1	overall	overall	ADV
fsr-3842	63	2	,	,	PUNCT
fsr-3842	63	3	the	the	DET
fsr-3842	63	4	evidence	evidence	NOUN
fsr-3842	63	5	supports	support	VERB
fsr-3842	63	6	the	the	DET
fsr-3842	63	7	idea	idea	NOUN
fsr-3842	63	8	that	that	SCONJ
fsr-3842	63	9	outsiders	outsider	NOUN
fsr-3842	63	10	pursuing	pursue	VERB
fsr-3842	63	11	active	active	ADJ
fsr-3842	63	12	monitoring	monitoring	NOUN
fsr-3842	63	13	can	can	AUX
fsr-3842	63	14	cause	cause	VERB
fsr-3842	63	15	increases	increase	NOUN
fsr-3842	63	16	in	in	ADP
fsr-3842	63	17	stockholder	stockholder	NOUN
fsr-3842	63	18	returns	return	NOUN
fsr-3842	63	19	.	.	PUNCT
fsr-3842	64	1	the	the	DET
fsr-3842	64	2	evidence	evidence	NOUN
fsr-3842	64	3	on	on	ADP
fsr-3842	64	4	calpers	calper	NOUN
fsr-3842	64	5	'	'	PART
fsr-3842	64	6	activism	activism	NOUN
fsr-3842	64	7	is	be	AUX
fsr-3842	64	8	the	the	DET
fsr-3842	64	9	stron	stron	NOUN
fsr-3842	64	10	gest	gest	PROPN
fsr-3842	64	11	,	,	PUNCT
fsr-3842	64	12	showing	show	VERB
fsr-3842	64	13	positive	positive	ADJ
fsr-3842	64	14	short	short	ADJ
fsr-3842	64	15	and	and	CCONJ
fsr-3842	64	16	long	long	ADJ
fsr-3842	64	17	-	-	PUNCT
fsr-3842	64	18	term	term	NOUN
fsr-3842	64	19	returns	return	NOUN
fsr-3842	64	20	to	to	ADP
fsr-3842	64	21	shareholders	shareholder	NOUN
fsr-3842	64	22	after	after	ADP
fsr-3842	64	23	calpers	calper	NOUN
fsr-3842	64	24	'	'	PART
fsr-3842	64	25	targets	target	NOUN
fsr-3842	64	26	firms	firm	NOUN
fsr-3842	64	27	for	for	ADP
fsr-3842	64	28	poor	poor	ADJ
fsr-3842	64	29	performance	performance	NOUN
fsr-3842	64	30	.	.	PUNCT
fsr-3842	65	1	these	these	DET
fsr-3842	65	2	studies	study	NOUN
fsr-3842	65	3	all	all	PRON
fsr-3842	65	4	examine	examine	VERB
fsr-3842	65	5	targets	target	NOUN
fsr-3842	65	6	prior	prior	ADV
fsr-3842	65	7	to	to	ADP
fsr-3842	65	8	the	the	DET
fsr-3842	65	9	resignation	resignation	NOUN
fsr-3842	65	10	of	of	ADP
fsr-3842	65	11	dale	dale	PROPN
fsr-3842	65	12	hanson	hanson	PROPN
fsr-3842	65	13	.	.	PUNCT
fsr-3842	66	1	this	this	DET
fsr-3842	66	2	paper	paper	NOUN
fsr-3842	66	3	will	will	AUX
fsr-3842	66	4	extend	extend	VERB
fsr-3842	66	5	the	the	DET
fsr-3842	66	6	previous	previous	ADJ
fsr-3842	66	7	papers	paper	NOUN
fsr-3842	66	8	by	by	ADP
fsr-3842	66	9	adding	add	VERB
fsr-3842	66	10	calpers	calper	NOUN
fsr-3842	66	11	'	'	PART
fsr-3842	66	12	targets	target	NOUN
fsr-3842	66	13	from	from	ADP
fsr-3842	66	14	1994	1994	NUM
fsr-3842	66	15	-	-	SYM
fsr-3842	66	16	1997	1997	NUM
fsr-3842	66	17	.	.	PUNCT
fsr-3842	67	1	we	we	PRON
fsr-3842	67	2	also	also	ADV
fsr-3842	67	3	calculate	calculate	VERB
fsr-3842	67	4	returns	return	NOUN
fsr-3842	67	5	following	follow	VERB
fsr-3842	67	6	the	the	DET
fsr-3842	67	7	public	public	ADJ
fsr-3842	67	8	announcement	announcement	NOUN
fsr-3842	67	9	date	date	NOUN
fsr-3842	67	10	of	of	ADP
fsr-3842	67	11	the	the	DET
fsr-3842	67	12	tar	tar	NOUN
fsr-3842	67	13	gets	get	VERB
fsr-3842	67	14	to	to	PART
fsr-3842	67	15	test	test	VERB
fsr-3842	67	16	whether	whether	SCONJ
fsr-3842	67	17	investors	investor	NOUN
fsr-3842	67	18	with	with	ADP
fsr-3842	67	19	only	only	ADJ
fsr-3842	67	20	public	public	ADJ
fsr-3842	67	21	information	information	NOUN
fsr-3842	67	22	could	could	AUX
fsr-3842	67	23	earn	earn	VERB
fsr-3842	67	24	the	the	DET
fsr-3842	67	25	high	high	ADJ
fsr-3842	67	26	returns	return	NOUN
fsr-3842	67	27	doc	doc	PROPN
fsr-3842	67	28	umented	umente	VERB
fsr-3842	67	29	in	in	ADP
fsr-3842	67	30	the	the	DET
fsr-3842	67	31	previous	previous	ADJ
fsr-3842	67	32	studies	study	NOUN
fsr-3842	67	33	.	.	PUNCT
fsr-3842	68	1	4	4	NUM
fsr-3842	68	2	f	f	PROPN
fsr-3842	68	3	inancial	inancial	ADJ
fsr-3842	68	4	services	service	NOUN
fsr-3842	68	5	r	r	NOUN
fsr-3842	68	6	eview	eview	NOUN
fsr-3842	68	7	7(1	7(1	NUM
fsr-3842	68	8	)	)	PUNCT
fsr-3842	68	9	1998	1998	NUM
fsr-3842	68	10	iii	iii	NOUN
fsr-3842	68	11	.	.	PUNCT
fsr-3842	68	12	data	datum	NOUN
fsr-3842	68	13	and	and	CCONJ
fsr-3842	68	14	methodology	methodology	NOUN
fsr-3842	68	15	the	the	DET
fsr-3842	68	16	sample	sample	NOUN
fsr-3842	68	17	in	in	ADP
fsr-3842	68	18	this	this	DET
fsr-3842	68	19	study	study	NOUN
fsr-3842	68	20	consists	consist	VERB
fsr-3842	68	21	of	of	ADP
fsr-3842	68	22	all	all	DET
fsr-3842	68	23	public	public	ADJ
fsr-3842	68	24	announcements	announcement	NOUN
fsr-3842	68	25	of	of	ADP
fsr-3842	68	26	calpers	calper	NOUN
fsr-3842	68	27	'	'	PART
fsr-3842	68	28	targets	target	NOUN
fsr-3842	68	29	from	from	ADP
fsr-3842	68	30	1992	1992	NUM
fsr-3842	68	31	-	-	SYM
fsr-3842	68	32	1997	1997	NUM
fsr-3842	68	33	.	.	PUNCT
fsr-3842	69	1	we	we	PRON
fsr-3842	69	2	collect	collect	VERB
fsr-3842	69	3	data	datum	NOUN
fsr-3842	69	4	on	on	ADP
fsr-3842	69	5	stock	stock	NOUN
fsr-3842	69	6	returns	return	NOUN
fsr-3842	69	7	for	for	ADP
fsr-3842	69	8	these	these	DET
fsr-3842	69	9	companies	company	NOUN
fsr-3842	69	10	,	,	PUNCT
fsr-3842	69	11	stock	stock	NOUN
fsr-3842	69	12	returns	return	NOUN
fsr-3842	69	13	for	for	ADP
fsr-3842	69	14	the	the	DET
fsr-3842	69	15	standard	standard	PROPN
fsr-3842	69	16	&	&	CCONJ
fsr-3842	69	17	poors	poors	PROPN
fsr-3842	69	18	(	(	PUNCT
fsr-3842	69	19	s&p	s&p	PROPN
fsr-3842	69	20	)	)	PUNCT
fsr-3842	69	21	500	500	NUM
fsr-3842	69	22	index	index	NOUN
fsr-3842	69	23	,	,	PUNCT
fsr-3842	69	24	evidence	evidence	NOUN
fsr-3842	69	25	of	of	ADP
fsr-3842	69	26	significant	significant	ADJ
fsr-3842	69	27	changes	change	NOUN
fsr-3842	69	28	in	in	ADP
fsr-3842	69	29	the	the	DET
fsr-3842	69	30	firms	firm	NOUN
fsr-3842	69	31	following	follow	VERB
fsr-3842	69	32	the	the	DET
fsr-3842	69	33	targeting	targeting	NOUN
fsr-3842	69	34	,	,	PUNCT
fsr-3842	69	35	the	the	DET
fsr-3842	69	36	ownership	ownership	NOUN
fsr-3842	69	37	structure	structure	NOUN
fsr-3842	69	38	and	and	CCONJ
fsr-3842	69	39	other	other	ADJ
fsr-3842	69	40	attributes	attribute	NOUN
fsr-3842	69	41	of	of	ADP
fsr-3842	69	42	the	the	DET
fsr-3842	69	43	firm	firm	NOUN
fsr-3842	69	44	.	.	PUNCT
fsr-3842	70	1	the	the	DET
fsr-3842	70	2	announcement	announcement	NOUN
fsr-3842	70	3	date	date	NOUN
fsr-3842	70	4	is	be	AUX
fsr-3842	70	5	the	the	DET
fsr-3842	70	6	date	date	NOUN
fsr-3842	70	7	calpers	calper	NOUN
fsr-3842	70	8	'	'	PART
fsr-3842	70	9	target	target	NOUN
fsr-3842	70	10	list	list	NOUN
fsr-3842	70	11	was	be	AUX
fsr-3842	70	12	reported	report	VERB
fsr-3842	70	13	in	in	ADP
fsr-3842	70	14	the	the	DET
fsr-3842	70	15	wall	wall	PROPN
fsr-3842	70	16	street	street	PROPN
fsr-3842	70	17	journal	journal	PROPN
fsr-3842	70	18	(	(	PUNCT
fsr-3842	70	19	wsj	wsj	PROPN
fsr-3842	70	20	)	)	PUNCT
fsr-3842	70	21	over	over	ADP
fsr-3842	70	22	a	a	DET
fsr-3842	70	23	six	six	NUM
fsr-3842	70	24	-	-	PUNCT
fsr-3842	70	25	year	year	NOUN
fsr-3842	70	26	period	period	NOUN
fsr-3842	70	27	(	(	PUNCT
fsr-3842	70	28	wsj	wsj	PROPN
fsr-3842	70	29	,	,	PUNCT
fsr-3842	70	30	march	march	PROPN
fsr-3842	70	31	20	20	NUM
fsr-3842	70	32	,	,	PUNCT
fsr-3842	70	33	1992	1992	NUM
fsr-3842	70	34	;	;	PUNCT
fsr-3842	70	35	january	january	PROPN
fsr-3842	70	36	22	22	NUM
fsr-3842	70	37	,	,	PUNCT
fsr-3842	70	38	1993	1993	NUM
fsr-3842	70	39	;	;	PUNCT
fsr-3842	70	40	january	january	PROPN
fsr-3842	70	41	19	19	NUM
fsr-3842	70	42	,	,	PUNCT
fsr-3842	70	43	1994	1994	NUM
fsr-3842	70	44	;	;	PUNCT
fsr-3842	70	45	february	february	PROPN
fsr-3842	70	46	3	3	NUM
fsr-3842	70	47	,	,	PUNCT
fsr-3842	70	48	1995	1995	NUM
fsr-3842	70	49	;	;	PUNCT
fsr-3842	70	50	february	february	PROPN
fsr-3842	70	51	6	6	NUM
fsr-3842	70	52	,	,	PUNCT
fsr-3842	70	53	1996	1996	NUM
fsr-3842	70	54	;	;	PUNCT
fsr-3842	70	55	and	and	CCONJ
fsr-3842	70	56	february	february	PROPN
fsr-3842	70	57	11	11	NUM
fsr-3842	70	58	,	,	PUNCT
fsr-3842	70	59	1997	1997	NUM
fsr-3842	70	60	)	)	PUNCT
fsr-3842	70	61	.	.	PUNCT
fsr-3842	71	1	the	the	DET
fsr-3842	71	2	first	first	ADJ
fsr-3842	71	3	date	date	NOUN
fsr-3842	71	4	,	,	PUNCT
fsr-3842	71	5	march	march	PROPN
fsr-3842	71	6	20	20	NUM
fsr-3842	71	7	,	,	PUNCT
fsr-3842	71	8	1992	1992	NUM
fsr-3842	71	9	,	,	PUNCT
fsr-3842	71	10	is	be	AUX
fsr-3842	71	11	the	the	DET
fsr-3842	71	12	first	first	ADJ
fsr-3842	71	13	time	time	NOUN
fsr-3842	71	14	calpers	calpers	PROPN
fsr-3842	71	15	publicly	publicly	ADV
fsr-3842	71	16	announced	announce	VERB
fsr-3842	71	17	its	its	PRON
fsr-3842	71	18	list	list	NOUN
fsr-3842	71	19	of	of	ADP
fsr-3842	71	20	target	target	NOUN
fsr-3842	71	21	companies	company	NOUN
fsr-3842	71	22	.	.	PUNCT
fsr-3842	72	1	the	the	DET
fsr-3842	72	2	initial	initial	ADJ
fsr-3842	72	3	sample	sample	NOUN
fsr-3842	72	4	contains	contain	VERB
fsr-3842	72	5	the	the	DET
fsr-3842	72	6	63	63	NUM
fsr-3842	72	7	firms	firm	NOUN
fsr-3842	72	8	that	that	PRON
fsr-3842	72	9	appear	appear	VERB
fsr-3842	72	10	in	in	ADP
fsr-3842	72	11	the	the	DET
fsr-3842	72	12	six	six	NUM
fsr-3842	72	13	wsj	wsj	NOUN
fsr-3842	72	14	articles	article	NOUN
fsr-3842	72	15	(	(	PUNCT
fsr-3842	72	16	table	table	NOUN
fsr-3842	72	17	1	1	NUM
fsr-3842	72	18	)	)	PUNCT
fsr-3842	72	19	.	.	PUNCT
fsr-3842	73	1	several	several	ADJ
fsr-3842	73	2	firms	firm	NOUN
fsr-3842	73	3	have	have	AUX
fsr-3842	73	4	been	be	AUX
fsr-3842	73	5	targeted	target	VERB
fsr-3842	73	6	more	more	ADJ
fsr-3842	73	7	than	than	ADP
fsr-3842	73	8	one	one	NUM
fsr-3842	73	9	year	year	NOUN
fsr-3842	73	10	;	;	PUNCT
fsr-3842	73	11	this	this	PRON
fsr-3842	73	12	indicates	indicate	VERB
fsr-3842	73	13	that	that	SCONJ
fsr-3842	73	14	calpers	calpers	PROPN
fsr-3842	73	15	was	be	AUX
fsr-3842	73	16	not	not	PART
fsr-3842	73	17	satisfied	satisfied	ADJ
fsr-3842	73	18	with	with	ADP
fsr-3842	73	19	the	the	DET
fsr-3842	73	20	firm	firm	NOUN
fsr-3842	73	21	's	's	PART
fsr-3842	73	22	response	response	NOUN
fsr-3842	73	23	to	to	ADP
fsr-3842	73	24	their	their	PRON
fsr-3842	73	25	initial	initial	ADJ
fsr-3842	73	26	letter	letter	NOUN
fsr-3842	73	27	.	.	PUNCT
fsr-3842	74	1	a	a	DET
fsr-3842	74	2	study	study	NOUN
fsr-3842	74	3	by	by	ADP
fsr-3842	74	4	anand	anand	PROPN
fsr-3842	74	5	(	(	PUNCT
fsr-3842	74	6	1994	1994	NUM
fsr-3842	74	7	)	)	PUNCT
fsr-3842	74	8	indicates	indicate	VERB
fsr-3842	74	9	that	that	PRON
fsr-3842	74	10	of	of	ADP
fsr-3842	74	11	the	the	DET
fsr-3842	74	12	ten	ten	NUM
fsr-3842	74	13	original	original	ADJ
fsr-3842	74	14	targets	target	NOUN
fsr-3842	74	15	in	in	ADP
fsr-3842	74	16	1993	1993	NUM
fsr-3842	74	17	,	,	PUNCT
fsr-3842	74	18	calpers	calper	NOUN
fsr-3842	74	19	only	only	ADV
fsr-3842	74	20	followed	follow	VERB
fsr-3842	74	21	through	through	ADP
fsr-3842	74	22	with	with	ADP
fsr-3842	74	23	shareholder	shareholder	NOUN
fsr-3842	74	24	proposals	proposal	NOUN
fsr-3842	74	25	on	on	ADP
fsr-3842	74	26	three	three	NUM
fsr-3842	74	27	of	of	ADP
fsr-3842	74	28	the	the	DET
fsr-3842	74	29	firms	firm	NOUN
fsr-3842	74	30	by	by	ADP
fsr-3842	74	31	1994	1994	NUM
fsr-3842	74	32	.	.	PUNCT
fsr-3842	75	1	this	this	PRON
fsr-3842	75	2	indicates	indicate	VERB
fsr-3842	75	3	that	that	SCONJ
fsr-3842	75	4	seven	seven	NUM
fsr-3842	75	5	of	of	ADP
fsr-3842	75	6	the	the	DET
fsr-3842	75	7	ten	ten	NUM
fsr-3842	75	8	targeted	target	VERB
fsr-3842	75	9	firms	firm	NOUN
fsr-3842	75	10	addressed	address	VERB
fsr-3842	75	11	calpers	calper	NOUN
fsr-3842	75	12	'	'	PART
fsr-3842	75	13	concerns	concern	NOUN
fsr-3842	75	14	in	in	ADP
fsr-3842	75	15	some	some	DET
fsr-3842	75	16	way	way	NOUN
fsr-3842	75	17	.	.	PUNCT
fsr-3842	76	1	however	however	ADV
fsr-3842	76	2	,	,	PUNCT
fsr-3842	76	3	others	other	NOUN
fsr-3842	76	4	were	be	AUX
fsr-3842	76	5	retargeted	retargete	VERB
fsr-3842	76	6	,	,	PUNCT
fsr-3842	76	7	such	such	ADJ
fsr-3842	76	8	as	as	ADP
fsr-3842	76	9	ibm	ibm	PROPN
fsr-3842	76	10	that	that	PRON
fsr-3842	76	11	was	be	AUX
fsr-3842	76	12	targeted	target	VERB
fsr-3842	76	13	in	in	ADP
fsr-3842	76	14	1992	1992	NUM
fsr-3842	76	15	,	,	PUNCT
fsr-3842	76	16	1993	1993	NUM
fsr-3842	76	17	and	and	CCONJ
fsr-3842	76	18	1994	1994	NUM
fsr-3842	76	19	.	.	PUNCT
fsr-3842	77	1	this	this	DET
fsr-3842	77	2	study	study	NOUN
fsr-3842	77	3	includes	include	VERB
fsr-3842	77	4	only	only	ADV
fsr-3842	77	5	the	the	DET
fsr-3842	77	6	first	first	ADJ
fsr-3842	77	7	year	year	NOUN
fsr-3842	77	8	in	in	ADP
fsr-3842	77	9	which	which	PRON
fsr-3842	77	10	a	a	DET
fsr-3842	77	11	firm	firm	NOUN
fsr-3842	77	12	was	be	AUX
fsr-3842	77	13	targeted	target	VERB
fsr-3842	77	14	publicly	publicly	ADV
fsr-3842	77	15	,	,	PUNCT
fsr-3842	77	16	since	since	SCONJ
fsr-3842	77	17	investors	investor	NOUN
fsr-3842	77	18	could	could	AUX
fsr-3842	77	19	have	have	VERB
fsr-3842	77	20	different	different	ADJ
fsr-3842	77	21	expectations	expectation	NOUN
fsr-3842	77	22	following	follow	VERB
fsr-3842	77	23	a	a	DET
fsr-3842	77	24	second	second	ADJ
fsr-3842	77	25	calpers	calper	NOUN
fsr-3842	77	26	'	'	PART
fsr-3842	77	27	target	target	NOUN
fsr-3842	77	28	.	.	PUNCT
fsr-3842	78	1	the	the	DET
fsr-3842	78	2	final	final	ADJ
fsr-3842	78	3	sample	sample	NOUN
fsr-3842	78	4	contains	contain	VERB
fsr-3842	78	5	47	47	NUM
fsr-3842	78	6	targeted	target	VERB
fsr-3842	78	7	firms	firm	NOUN
fsr-3842	78	8	.	.	PUNCT
fsr-3842	79	1	table	table	NOUN
fsr-3842	79	2	1	1	NUM
fsr-3842	79	3	firms	firm	NOUN
fsr-3842	79	4	targeted	target	VERB
fsr-3842	79	5	by	by	ADP
fsr-3842	79	6	calpers	calper	NOUN
fsr-3842	79	7	as	as	SCONJ
fsr-3842	79	8	reported	report	VERB
fsr-3842	79	9	in	in	ADP
fsr-3842	79	10	the	the	DET
fsr-3842	79	11	wall	wall	PROPN
fsr-3842	79	12	street	street	PROPN
fsr-3842	79	13	journal	journal	PROPN
fsr-3842	79	14	3/23/92	3/23/92	NUM
fsr-3842	79	15	american	american	PROPN
fsr-3842	79	16	express	express	VERB
fsr-3842	79	17	control	control	PROPN
fsr-3842	79	18	data	data	PROPN
fsr-3842	79	19	corporation	corporation	PROPN
fsr-3842	79	20	chrysler	chrysler	PROPN
fsr-3842	79	21	corporation	corporation	PROPN
fsr-3842	79	22	dial	dial	PROPN
fsr-3842	79	23	corporation	corporation	PROPN
fsr-3842	79	24	hercules	hercules	PROPN
fsr-3842	79	25	incl	incl	PROPN
fsr-3842	79	26	itt	itt	PROPN
fsr-3842	79	27	corporation	corporation	PROPN
fsr-3842	79	28	l	l	PROPN
fsr-3842	79	29	ibm	ibm	PROPN
fsr-3842	79	30	polaroid	polaroid	PROPN
fsr-3842	79	31	ryder	ryder	PROPN
fsr-3842	79	32	system	system	PROPN
fsr-3842	79	33	incorporated	incorporate	VERB
fsr-3842	79	34	salomon	salomon	NOUN
fsr-3842	79	35	incorporated	incorporate	VERB
fsr-3842	79	36	time	time	NOUN
fsr-3842	79	37	-	-	PUNCT
fsr-3842	79	38	warner	warner	PROPN
fsr-3842	79	39	usair	usair	PROPN
fsr-3842	79	40	group	group	NOUN
fsr-3842	79	41	2/03/95	2/03/95	NUM
fsr-3842	79	42	boise	boise	NOUN
fsr-3842	79	43	cascade	cascade	NOUN
fsr-3842	79	44	2	2	NUM
fsr-3842	79	45	first	first	ADJ
fsr-3842	79	46	mississippil	mississippil	NOUN
fsr-3842	79	47	jostens	jostens	PROPN
fsr-3842	79	48	incorporated	incorporate	VERB
fsr-3842	79	49	kmart	kmart	PROPN
fsr-3842	79	50	corporation	corporation	PROPN
fsr-3842	79	51	melville	melville	PROPN
fsr-3842	79	52	corporation	corporation	PROPN
fsr-3842	79	53	navistar	navistar	PROPN
fsr-3842	79	54	international	international	ADJ
fsr-3842	79	55	1	1	NUM
fsr-3842	79	56	oryx	oryx	PROPN
fsr-3842	79	57	energy	energy	NOUN
fsr-3842	79	58	corporation	corporation	PROPN
fsr-3842	79	59	u.s	u.s	PROPN
fsr-3842	79	60	.	.	PROPN
fsr-3842	79	61	shoe	shoe	PROPN
fsr-3842	79	62	company	company	NOUN
fsr-3842	79	63	1	1	NUM
fsr-3842	79	64	zurn	zurn	NOUN
fsr-3842	79	65	industries	industry	NOUN
fsr-3842	79	66	1/22/93	1/22/93	NUM
fsr-3842	79	67	advanced	advanced	PROPN
fsr-3842	79	68	micro	micro	PROPN
fsr-3842	79	69	devices	devices	PROPN
fsr-3842	79	70	boise	boise	PROPN
fsr-3842	79	71	cascade	cascade	NOUN
fsr-3842	79	72	champion	champion	NOUN
fsr-3842	79	73	international	international	ADJ
fsr-3842	79	74	chrysler	chrysler	PROPN
fsr-3842	79	75	corporation	corporation	PROPN
fsr-3842	79	76	1	1	NUM
fsr-3842	79	77	ibm	ibm	PROPN
fsr-3842	79	78	l	l	PROPN
fsr-3842	79	79	macfrugals	macfrugal	NOUN
fsr-3842	79	80	bargains	bargain	NOUN
fsr-3842	79	81	pennzoil	pennzoil	PROPN
fsr-3842	79	82	polaroid	polaroid	PROPN
fsr-3842	79	83	1	1	NUM
fsr-3842	79	84	sears	sears	PROPN
fsr-3842	79	85	sizzler	sizzler	NOUN
fsr-3842	79	86	international	international	ADJ
fsr-3842	79	87	time	time	NOUN
fsr-3842	79	88	-	-	PUNCT
fsr-3842	79	89	warner	warner	PROPN
fsr-3842	79	90	1	1	NUM
fsr-3842	79	91	westinghouse	westinghouse	PROPN
fsr-3842	79	92	electric	electric	PROPN
fsr-3842	79	93	2/06/96	2/06/96	NUM
fsr-3842	79	94	applied	apply	VERB
fsr-3842	79	95	bioscience	bioscience	PROPN
fsr-3842	79	96	international	international	PROPN
fsr-3842	79	97	bassett	bassett	PROPN
fsr-3842	79	98	furniture	furniture	NOUN
fsr-3842	79	99	industries	industry	NOUN
fsr-3842	79	100	charming	charming	PROPN
fsr-3842	79	101	shoppes	shoppes	PROPN
fsr-3842	79	102	inc	inc	PROPN
fsr-3842	79	103	edison	edison	PROPN
fsr-3842	79	104	brothers	brothers	PROPN
fsr-3842	79	105	stores	stores	PROPN
fsr-3842	79	106	inc	inc	PROPN
fsr-3842	79	107	melville	melville	PROPN
fsr-3842	79	108	corporation1	corporation1	PROPN
fsr-3842	79	109	oryx	oryx	PROPN
fsr-3842	79	110	energy	energy	NOUN
fsr-3842	79	111	corporation	corporation	PROPN
fsr-3842	79	112	l	l	PROPN
fsr-3842	79	113	rollins	rollins	PROPN
fsr-3842	79	114	environmental	environmental	PROPN
fsr-3842	79	115	services	services	PROPN
fsr-3842	79	116	stride	stride	PROPN
fsr-3842	79	117	rite	rite	PROPN
fsr-3842	79	118	corporation	corporation	PROPN
fsr-3842	79	119	u.s	u.s	PROPN
fsr-3842	79	120	.	.	PROPN
fsr-3842	79	121	surgical	surgical	ADJ
fsr-3842	79	122	corporation	corporation	NOUN
fsr-3842	79	123	venture	venture	PROPN
fsr-3842	79	124	stores	stores	PROPN
fsr-3842	79	125	inc	inc	PROPN
fsr-3842	79	126	1/19/94	1/19/94	PROPN
fsr-3842	79	127	boise	boise	PROPN
fsr-3842	79	128	cascade	cascade	NOUN
fsr-3842	79	129	l	l	PROPN
fsr-3842	79	130	cpi	cpi	PROPN
fsr-3842	79	131	corporation	corporation	PROPN
fsr-3842	79	132	eastman	eastman	PROPN
fsr-3842	79	133	kodak	kodak	PROPN
fsr-3842	79	134	first	first	PROPN
fsr-3842	79	135	mississippi	mississippi	PROPN
fsr-3842	79	136	ibm	ibm	PROPN
fsr-3842	79	137	2	2	NUM
fsr-3842	79	138	navistar	navistar	NOUN
fsr-3842	79	139	international	international	ADJ
fsr-3842	79	140	usx	usx	PROPN
fsr-3842	79	141	corporation	corporation	PROPN
fsr-3842	79	142	u.s	u.s	PROPN
fsr-3842	79	143	.	.	PROPN
fsr-3842	79	144	shoe	shoe	PROPN
fsr-3842	79	145	company	company	PROPN
fsr-3842	79	146	westinghouse	westinghouse	PROPN
fsr-3842	79	147	electric	electric	PROPN
fsr-3842	79	148	i	i	PRON
fsr-3842	79	149	zenith	zenith	NOUN
fsr-3842	79	150	electronics	electronic	NOUN
fsr-3842	79	151	corporation	corporation	NOUN
fsr-3842	79	152	2/11/97	2/11/97	NUM
fsr-3842	79	153	apple	apple	NOUN
fsr-3842	79	154	computer	computer	NOUN
fsr-3842	79	155	bassett	bassett	PROPN
fsr-3842	79	156	furniture	furniture	NOUN
fsr-3842	79	157	industries	industry	NOUN
fsr-3842	79	158	l	l	PROPN
fsr-3842	79	159	fleming	fleming	PROPN
fsr-3842	79	160	cos	cos	PROPN
fsr-3842	79	161	novell	novell	PROPN
fsr-3842	79	162	inc	inc	PROPN
fsr-3842	79	163	reebok	reebok	PROPN
fsr-3842	79	164	international	international	PROPN
fsr-3842	79	165	ltd	ltd	PROPN
fsr-3842	79	166	rollins	rollins	PROPN
fsr-3842	79	167	environmental	environmental	PROPN
fsr-3842	79	168	services	services	PROPN
fsr-3842	79	169	j	j	PROPN
fsr-3842	79	170	sensormatic	sensormatic	PROPN
fsr-3842	79	171	electronics	electronics	PROPN
fsr-3842	79	172	corp	corp	PROPN
fsr-3842	79	173	stride	stride	PROPN
fsr-3842	79	174	rite	rite	PROPN
fsr-3842	79	175	corporation	corporation	PROPN
fsr-3842	79	176	l	l	PROPN
fsr-3842	79	177	summit	summit	PROPN
fsr-3842	79	178	technology	technology	PROPN
fsr-3842	79	179	inc	inc	PROPN
fsr-3842	79	180	sybase	sybase	PROPN
fsr-3842	79	181	inc	inc	PROPN
fsr-3842	79	182	notes	notes	PROPN
fsr-3842	79	183	:	:	PUNCT
fsr-3842	79	184	i.	i.	PROPN
fsr-3842	79	185	calpers	calpers	PROPN
fsr-3842	79	186	targeted	target	VERB
fsr-3842	79	187	this	this	DET
fsr-3842	79	188	firm	firm	NOUN
fsr-3842	79	189	in	in	ADP
fsr-3842	79	190	the	the	DET
fsr-3842	79	191	prior	prior	ADJ
fsr-3842	79	192	year	year	NOUN
fsr-3842	79	193	.	.	PUNCT
fsr-3842	80	1	2	2	X
fsr-3842	80	2	.	.	X
fsr-3842	80	3	calpers	calper	NOUN
fsr-3842	80	4	targeted	target	VERB
fsr-3842	80	5	this	this	DET
fsr-3842	80	6	firm	firm	NOUN
fsr-3842	80	7	in	in	ADP
fsr-3842	80	8	the	the	DET
fsr-3842	80	9	prior	prior	ADJ
fsr-3842	80	10	two	two	NUM
fsr-3842	80	11	years	year	NOUN
fsr-3842	80	12	.	.	PUNCT
fsr-3842	81	1	shareholder	shareholder	NOUN
fsr-3842	81	2	wealth	wealth	NOUN
fsr-3842	81	3	effects	effect	VERB
fsr-3842	81	4	5	5	NUM
fsr-3842	81	5	table	table	NOUN
fsr-3842	81	6	2	2	NUM
fsr-3842	81	7	wall	wall	PROPN
fsr-3842	81	8	street	street	PROPN
fsr-3842	81	9	journal	journal	PROPN
fsr-3842	81	10	reports	report	NOUN
fsr-3842	81	11	of	of	ADP
fsr-3842	81	12	activities	activity	NOUN
fsr-3842	81	13	associated	associate	VERB
fsr-3842	81	14	with	with	ADP
fsr-3842	81	15	targeted	target	VERB
fsr-3842	81	16	firms	firm	NOUN
fsr-3842	81	17	in	in	ADP
fsr-3842	81	18	the	the	DET
fsr-3842	81	19	target	target	NOUN
fsr-3842	81	20	year	year	NOUN
fsr-3842	81	21	total	total	NOUN
fsr-3842	81	22	sample	sample	NOUN
fsr-3842	81	23	1992	1992	NUM
fsr-3842	81	24	-	-	SYM
fsr-3842	81	25	1994	1994	NUM
fsr-3842	81	26	1995	1995	NUM
fsr-3842	81	27	-	-	SYM
fsr-3842	81	28	1997	1997	NUM
fsr-3842	81	29	number	number	NOUN
fsr-3842	81	30	of	of	ADP
fsr-3842	81	31	firms	firm	NOUN
fsr-3842	81	32	period	period	NOUN
fsr-3842	81	33	period	period	NOUN
fsr-3842	81	34	management	management	NOUN
fsr-3842	81	35	activities	activity	NOUN
fsr-3842	81	36	ceo	ceo	NOUN
fsr-3842	81	37	change	change	NOUN
fsr-3842	81	38	7	7	NUM
fsr-3842	81	39	5	5	NUM
fsr-3842	81	40	2	2	NUM
fsr-3842	81	41	top	top	NOUN
fsr-3842	81	42	manager	manager	NOUN
fsr-3842	81	43	change	change	VERB
fsr-3842	81	44	6	6	NUM
fsr-3842	81	45	3	3	NUM
fsr-3842	81	46	3	3	NUM
fsr-3842	81	47	restructuring	restructure	VERB
fsr-3842	81	48	13	13	NUM
fsr-3842	81	49	7	7	NUM
fsr-3842	81	50	6	6	NUM
fsr-3842	81	51	divestiture	divestiture	NOUN
fsr-3842	81	52	14	14	NUM
fsr-3842	81	53	8	8	NUM
fsr-3842	81	54	6	6	NUM
fsr-3842	81	55	debt	debt	NOUN
fsr-3842	81	56	issue	issue	NOUN
fsr-3842	81	57	4	4	NUM
fsr-3842	81	58	4	4	NUM
fsr-3842	81	59	0	0	NUM
fsr-3842	81	60	stock	stock	NOUN
fsr-3842	81	61	issue	issue	NOUN
fsr-3842	81	62	7	7	NUM
fsr-3842	81	63	6	6	NUM
fsr-3842	81	64	!	!	PUNCT
fsr-3842	82	1	cost	cost	NOUN
fsr-3842	82	2	cutting	cut	VERB
fsr-3842	82	3	14	14	NUM
fsr-3842	82	4	i	i	NOUN
fsr-3842	82	5	0	0	NUM
fsr-3842	82	6	4	4	NUM
fsr-3842	82	7	executive	executive	NOUN
fsr-3842	82	8	compensation	compensation	NOUN
fsr-3842	82	9	decrease	decrease	NOUN
fsr-3842	82	10	5	5	NUM
fsr-3842	82	11	4	4	NUM
fsr-3842	82	12	1	1	NUM
fsr-3842	82	13	executive	executive	NOUN
fsr-3842	82	14	compensation	compensation	NOUN
fsr-3842	82	15	increase	increase	VERB
fsr-3842	82	16	3	3	NUM
fsr-3842	82	17	3	3	NUM
fsr-3842	82	18	0	0	NUM
fsr-3842	82	19	other	other	ADJ
fsr-3842	82	20	debt	debt	NOUN
fsr-3842	82	21	downgrade	downgrade	VERB
fsr-3842	82	22	14	14	NUM
fsr-3842	82	23	10	10	NUM
fsr-3842	82	24	4	4	NUM
fsr-3842	82	25	debt	debt	NOUN
fsr-3842	82	26	upgrade	upgrade	VERB
fsr-3842	82	27	8	8	NUM
fsr-3842	82	28	8	8	NUM
fsr-3842	82	29	0	0	NUM
fsr-3842	82	30	the	the	DET
fsr-3842	82	31	purpose	purpose	NOUN
fsr-3842	82	32	of	of	ADP
fsr-3842	82	33	calpers	calpers	PROPN
fsr-3842	82	34	'	'	PART
fsr-3842	82	35	activism	activism	NOUN
fsr-3842	82	36	is	be	AUX
fsr-3842	82	37	to	to	PART
fsr-3842	82	38	cause	cause	VERB
fsr-3842	82	39	management	management	NOUN
fsr-3842	82	40	of	of	ADP
fsr-3842	82	41	the	the	DET
fsr-3842	82	42	targeted	target	VERB
fsr-3842	82	43	firms	firm	NOUN
fsr-3842	82	44	to	to	PART
fsr-3842	82	45	change	change	VERB
fsr-3842	82	46	policies	policy	NOUN
fsr-3842	82	47	so	so	SCONJ
fsr-3842	82	48	that	that	SCONJ
fsr-3842	82	49	shareholders	shareholder	NOUN
fsr-3842	82	50	'	'	PART
fsr-3842	82	51	(	(	PUNCT
fsr-3842	82	52	and	and	CCONJ
fsr-3842	82	53	calpers	calper	NOUN
fsr-3842	82	54	'	'	PART
fsr-3842	82	55	)	)	PUNCT
fsr-3842	82	56	wealth	wealth	NOUN
fsr-3842	82	57	can	can	AUX
fsr-3842	82	58	be	be	AUX
fsr-3842	82	59	increased	increase	VERB
fsr-3842	82	60	.	.	PUNCT
fsr-3842	83	1	the	the	DET
fsr-3842	83	2	wall	wall	PROPN
fsr-3842	83	3	street	street	PROPN
fsr-3842	83	4	journal	journal	PROPN
fsr-3842	83	5	index	index	NOUN
fsr-3842	83	6	was	be	AUX
fsr-3842	83	7	examined	examine	VERB
fsr-3842	83	8	for	for	ADP
fsr-3842	83	9	reports	report	NOUN
fsr-3842	83	10	of	of	ADP
fsr-3842	83	11	significant	significant	ADJ
fsr-3842	83	12	structural	structural	ADJ
fsr-3842	83	13	changes	change	NOUN
fsr-3842	83	14	in	in	ADP
fsr-3842	83	15	the	the	DET
fsr-3842	83	16	tar	tar	NOUN
fsr-3842	83	17	get	get	NOUN
fsr-3842	83	18	firms	firm	NOUN
fsr-3842	83	19	in	in	ADP
fsr-3842	83	20	the	the	DET
fsr-3842	83	21	year	year	NOUN
fsr-3842	83	22	following	follow	VERB
fsr-3842	83	23	the	the	DET
fsr-3842	83	24	target	target	NOUN
fsr-3842	83	25	announcement	announcement	NOUN
fsr-3842	83	26	.	.	PUNCT
fsr-3842	84	1	many	many	ADJ
fsr-3842	84	2	firms	firm	NOUN
fsr-3842	84	3	reported	report	VERB
fsr-3842	84	4	major	major	ADJ
fsr-3842	84	5	changes	change	NOUN
fsr-3842	84	6	in	in	ADP
fsr-3842	84	7	operations	operation	NOUN
fsr-3842	84	8	(	(	PUNCT
fsr-3842	84	9	table	table	NOUN
fsr-3842	84	10	2	2	NUM
fsr-3842	84	11	)	)	PUNCT
fsr-3842	84	12	.	.	PUNCT
fsr-3842	85	1	major	major	ADJ
fsr-3842	85	2	changes	change	NOUN
fsr-3842	85	3	include	include	VERB
fsr-3842	85	4	restructuring	restructuring	NOUN
fsr-3842	85	5	,	,	PUNCT
fsr-3842	85	6	divestitures	divestiture	NOUN
fsr-3842	85	7	,	,	PUNCT
fsr-3842	85	8	general	general	ADJ
fsr-3842	85	9	cost	cost	NOUN
fsr-3842	85	10	cutting	cutting	NOUN
fsr-3842	85	11	,	,	PUNCT
fsr-3842	85	12	and	and	CCONJ
fsr-3842	85	13	top	top	ADJ
fsr-3842	85	14	management	management	NOUN
fsr-3842	85	15	changes	change	NOUN
fsr-3842	85	16	.	.	PUNCT
fsr-3842	86	1	also	also	ADV
fsr-3842	86	2	,	,	PUNCT
fsr-3842	86	3	several	several	ADJ
fsr-3842	86	4	firms	firm	NOUN
fsr-3842	86	5	issued	issue	VERB
fsr-3842	86	6	either	either	CCONJ
fsr-3842	86	7	debt	debt	NOUN
fsr-3842	86	8	or	or	CCONJ
fsr-3842	86	9	equity	equity	NOUN
fsr-3842	86	10	during	during	ADP
fsr-3842	86	11	the	the	DET
fsr-3842	86	12	target	target	NOUN
fsr-3842	86	13	year	year	NOUN
fsr-3842	86	14	.	.	PUNCT
fsr-3842	87	1	managerial	managerial	ADJ
fsr-3842	87	2	incentives	incentive	NOUN
fsr-3842	87	3	to	to	PART
fsr-3842	87	4	make	make	VERB
fsr-3842	87	5	significant	significant	ADJ
fsr-3842	87	6	changes	change	NOUN
fsr-3842	87	7	and	and	CCONJ
fsr-3842	87	8	the	the	DET
fsr-3842	87	9	resulting	result	VERB
fsr-3842	87	10	shareholder	shareholder	NOUN
fsr-3842	87	11	returns	return	NOUN
fsr-3842	87	12	may	may	AUX
fsr-3842	87	13	be	be	AUX
fsr-3842	87	14	impacted	impact	VERB
fsr-3842	87	15	by	by	ADP
fsr-3842	87	16	the	the	DET
fsr-3842	87	17	structure	structure	NOUN
fsr-3842	87	18	of	of	ADP
fsr-3842	87	19	the	the	DET
fsr-3842	87	20	firm	firm	NOUN
fsr-3842	87	21	'	'	PART
fsr-3842	87	22	s	s	PROPN
fsr-3842	87	23	equity	equity	NOUN
fsr-3842	87	24	ownership	ownership	NOUN
fsr-3842	87	25	.	.	PUNCT
fsr-3842	88	1	jensen	jensen	PROPN
fsr-3842	88	2	and	and	CCONJ
fsr-3842	88	3	meck	meck	PROPN
fsr-3842	88	4	ling	ling	PROPN
fsr-3842	88	5	(	(	PUNCT
fsr-3842	88	6	1976	1976	NUM
fsr-3842	88	7	)	)	PUNCT
fsr-3842	88	8	assert	assert	VERB
fsr-3842	88	9	that	that	SCONJ
fsr-3842	88	10	firms	firm	NOUN
fsr-3842	88	11	with	with	ADP
fsr-3842	88	12	low	low	ADJ
fsr-3842	88	13	insider	insider	NOUN
fsr-3842	88	14	ownership	ownership	NOUN
fsr-3842	88	15	need	need	VERB
fsr-3842	88	16	more	more	ADV
fsr-3842	88	17	active	active	ADJ
fsr-3842	88	18	monitoring	monitoring	NOUN
fsr-3842	88	19	.	.	PUNCT
fsr-3842	89	1	firms	firm	NOUN
fsr-3842	89	2	with	with	ADP
fsr-3842	89	3	high	high	ADJ
fsr-3842	89	4	insider	insider	NOUN
fsr-3842	89	5	ownership	ownership	NOUN
fsr-3842	89	6	may	may	AUX
fsr-3842	89	7	already	already	ADV
fsr-3842	89	8	have	have	VERB
fsr-3842	89	9	the	the	DET
fsr-3842	89	10	incentives	incentive	NOUN
fsr-3842	89	11	to	to	PART
fsr-3842	89	12	operate	operate	VERB
fsr-3842	89	13	at	at	ADP
fsr-3842	89	14	a	a	DET
fsr-3842	89	15	high	high	ADJ
fsr-3842	89	16	level	level	NOUN
fsr-3842	89	17	of	of	ADP
fsr-3842	89	18	efficiency	efficiency	NOUN
fsr-3842	89	19	.	.	PUNCT
fsr-3842	90	1	consistent	consistent	ADJ
fsr-3842	90	2	with	with	ADP
fsr-3842	90	3	this	this	DET
fsr-3842	90	4	argument	argument	NOUN
fsr-3842	90	5	,	,	PUNCT
fsr-3842	90	6	smith	smith	PROPN
fsr-3842	90	7	(	(	PUNCT
fsr-3842	90	8	1996	1996	NUM
fsr-3842	90	9	)	)	PUNCT
fsr-3842	90	10	finds	find	VERB
fsr-3842	90	11	that	that	SCONJ
fsr-3842	90	12	calpers	calpers	PROPN
fsr-3842	90	13	does	do	AUX
fsr-3842	90	14	not	not	PART
fsr-3842	90	15	target	target	VERB
fsr-3842	90	16	firms	firm	NOUN
fsr-3842	90	17	with	with	ADP
fsr-3842	90	18	high	high	ADJ
fsr-3842	90	19	insider	insider	NOUN
fsr-3842	90	20	ownership	ownership	NOUN
fsr-3842	90	21	and	and	CCONJ
fsr-3842	90	22	low	low	ADJ
fsr-3842	90	23	institutional	institutional	ADJ
fsr-3842	90	24	ownership	ownership	NOUN
fsr-3842	90	25	.	.	PUNCT
fsr-3842	91	1	data	datum	NOUN
fsr-3842	91	2	on	on	ADP
fsr-3842	91	3	own	own	ADJ
fsr-3842	91	4	ership	ership	NOUN
fsr-3842	91	5	structure	structure	NOUN
fsr-3842	91	6	was	be	AUX
fsr-3842	91	7	collected	collect	VERB
fsr-3842	91	8	from	from	ADP
fsr-3842	91	9	the	the	DET
fsr-3842	91	10	compact	compact	ADJ
fsr-3842	91	11	disclosure	disclosure	NOUN
fsr-3842	91	12	data	datum	NOUN
fsr-3842	91	13	files	file	NOUN
fsr-3842	91	14	;	;	PUNCT
fsr-3842	91	15	the	the	DET
fsr-3842	91	16	ownership	ownership	NOUN
fsr-3842	91	17	vari	vari	ADJ
fsr-3842	91	18	ables	able	NOUN
fsr-3842	91	19	collected	collect	VERB
fsr-3842	91	20	are	be	AUX
fsr-3842	91	21	the	the	DET
fsr-3842	91	22	percentage	percentage	NOUN
fsr-3842	91	23	of	of	ADP
fsr-3842	91	24	stock	stock	NOUN
fsr-3842	91	25	held	hold	VERB
fsr-3842	91	26	by	by	ADP
fsr-3842	91	27	insiders	insider	NOUN
fsr-3842	91	28	,	,	PUNCT
fsr-3842	91	29	institutional	institutional	ADJ
fsr-3842	91	30	owners	owner	NOUN
fsr-3842	91	31	,	,	PUNCT
fsr-3842	91	32	and	and	CCONJ
fsr-3842	91	33	large	large	ADJ
fsr-3842	91	34	(	(	PUNCT
fsr-3842	91	35	greater	great	ADJ
fsr-3842	91	36	than	than	ADP
fsr-3842	91	37	five	five	NUM
fsr-3842	91	38	percent	percent	NOUN
fsr-3842	91	39	)	)	PUNCT
fsr-3842	91	40	owners	owner	NOUN
fsr-3842	91	41	.	.	PUNCT
fsr-3842	92	1	the	the	DET
fsr-3842	92	2	success	success	NOUN
fsr-3842	92	3	of	of	ADP
fsr-3842	92	4	shareholder	shareholder	NOUN
fsr-3842	92	5	activism	activism	NOUN
fsr-3842	92	6	may	may	AUX
fsr-3842	92	7	also	also	ADV
fsr-3842	92	8	be	be	AUX
fsr-3842	92	9	a	a	DET
fsr-3842	92	10	function	function	NOUN
fsr-3842	92	11	of	of	ADP
fsr-3842	92	12	the	the	DET
fsr-3842	92	13	size	size	NOUN
fsr-3842	92	14	of	of	ADP
fsr-3842	92	15	the	the	DET
fsr-3842	92	16	firm	firm	NOUN
fsr-3842	92	17	;	;	PUNCT
fsr-3842	92	18	larger	large	ADJ
fsr-3842	92	19	firms	firm	NOUN
fsr-3842	92	20	are	be	AUX
fsr-3842	92	21	less	less	ADV
fsr-3842	92	22	likely	likely	ADJ
fsr-3842	92	23	to	to	PART
fsr-3842	92	24	experience	experience	VERB
fsr-3842	92	25	a	a	DET
fsr-3842	92	26	large	large	ADJ
fsr-3842	92	27	gain	gain	NOUN
fsr-3842	92	28	,	,	PUNCT
fsr-3842	92	29	all	all	PRON
fsr-3842	92	30	else	else	ADV
fsr-3842	92	31	equal	equal	ADJ
fsr-3842	92	32	.	.	PUNCT
fsr-3842	93	1	the	the	DET
fsr-3842	93	2	size	size	NOUN
fsr-3842	93	3	of	of	ADP
fsr-3842	93	4	each	each	DET
fsr-3842	93	5	firm	firm	NOUN
fsr-3842	93	6	is	be	AUX
fsr-3842	93	7	measured	measure	VERB
fsr-3842	93	8	by	by	ADP
fsr-3842	93	9	the	the	DET
fsr-3842	93	10	market	market	NOUN
fsr-3842	93	11	value	value	NOUN
fsr-3842	93	12	of	of	ADP
fsr-3842	93	13	its	its	PRON
fsr-3842	93	14	equity	equity	NOUN
fsr-3842	93	15	the	the	DET
fsr-3842	93	16	year	year	NOUN
fsr-3842	93	17	prior	prior	ADV
fsr-3842	93	18	to	to	ADP
fsr-3842	93	19	targeting	targeting	NOUN
fsr-3842	93	20	,	,	PUNCT
fsr-3842	93	21	which	which	PRON
fsr-3842	93	22	is	be	AUX
fsr-3842	93	23	calculated	calculate	VERB
fsr-3842	93	24	as	as	ADP
fsr-3842	93	25	closing	closing	NOUN
fsr-3842	93	26	price	price	NOUN
fsr-3842	93	27	times	time	NOUN
fsr-3842	93	28	number	number	NOUN
fsr-3842	93	29	of	of	ADP
fsr-3842	93	30	shares	share	NOUN
fsr-3842	93	31	outstanding	outstanding	ADJ
fsr-3842	93	32	as	as	SCONJ
fsr-3842	93	33	given	give	VERB
fsr-3842	93	34	by	by	ADP
fsr-3842	93	35	the	the	DET
fsr-3842	93	36	standard	standard	PROPN
fsr-3842	93	37	&	&	CCONJ
fsr-3842	93	38	poors	poors	PROPN
fsr-3842	93	39	compustat	compustat	PROPN
fsr-3842	93	40	database	database	NOUN
fsr-3842	93	41	.	.	PUNCT
fsr-3842	94	1	the	the	DET
fsr-3842	94	2	measure	measure	NOUN
fsr-3842	94	3	of	of	ADP
fsr-3842	94	4	shareholder	shareholder	NOUN
fsr-3842	94	5	's	's	PART
fsr-3842	94	6	excess	excess	ADJ
fsr-3842	94	7	return	return	NOUN
fsr-3842	94	8	is	be	AUX
fsr-3842	94	9	the	the	DET
fsr-3842	94	10	targeted	target	VERB
fsr-3842	94	11	company	company	NOUN
fsr-3842	94	12	's	's	PART
fsr-3842	94	13	holding	hold	VERB
fsr-3842	94	14	period	period	NOUN
fsr-3842	94	15	return	return	VERB
fsr-3842	94	16	less	less	ADJ
fsr-3842	94	17	the	the	DET
fsr-3842	94	18	stock	stock	NOUN
fsr-3842	94	19	return	return	NOUN
fsr-3842	94	20	of	of	ADP
fsr-3842	94	21	the	the	DET
fsr-3842	94	22	s&p	s&p	PROPN
fsr-3842	94	23	500	500	NUM
fsr-3842	94	24	index	index	NOUN
fsr-3842	94	25	.	.	PUNCT
fsr-3842	95	1	the	the	DET
fsr-3842	95	2	cumulative	cumulative	ADJ
fsr-3842	95	3	excess	excess	ADJ
fsr-3842	95	4	performance	performance	NOUN
fsr-3842	95	5	is	be	AUX
fsr-3842	95	6	calculated	calculate	VERB
fsr-3842	95	7	as	as	ADP
fsr-3842	95	8	:	:	PUNCT
fsr-3842	95	9	n	n	CCONJ
fsr-3842	95	10	n	n	PRON
fsr-3842	95	11	cerin	cerin	NOUN
fsr-3842	95	12	=	=	PUNCT
fsr-3842	95	13	l	l	NOUN
fsr-3842	95	14	-	-	PROPN
fsr-3842	95	15	i	i	PRON
fsr-3842	95	16	(	(	PUNCT
fsr-3842	95	17	1	1	NUM
fsr-3842	95	18	+	+	CCONJ
fsr-3842	95	19	rit	rit	NOUN
fsr-3842	95	20	)	)	PUNCT
fsr-3842	95	21	l"l	l"l	PROPN
fsr-3842	95	22	(	(	PUNCT
fsr-3842	95	23	1	1	NUM
fsr-3842	95	24	+	+	NOUN
fsr-3842	95	25	st	st	NOUN
fsr-3842	95	26	)	)	PUNCT
fsr-3842	95	27	t	t	NOUN
fsr-3842	95	28	=	=	PUNCT
fsr-3842	95	29	l	l	NOUN
fsr-3842	95	30	t	t	NOUN
fsr-3842	95	31	=	=	SYM
fsr-3842	95	32	l	l	NOUN
fsr-3842	95	33	6	6	NUM
fsr-3842	95	34	financial	financial	ADJ
fsr-3842	95	35	services	service	NOUN
fsr-3842	95	36	review	review	VERB
fsr-3842	95	37	7(1	7(1	NUM
fsr-3842	95	38	)	)	PUNCT
fsr-3842	95	39	1998	1998	NUM
fsr-3842	95	40	table	table	NOUN
fsr-3842	95	41	3	3	NUM
fsr-3842	95	42	descriptive	descriptive	ADJ
fsr-3842	95	43	statistics	statistic	NOUN
fsr-3842	95	44	of	of	ADP
fsr-3842	95	45	calpers	calpers	PROPN
fsr-3842	95	46	targets	target	NOUN
fsr-3842	95	47	[	[	X
fsr-3842	95	48	the	the	DET
fsr-3842	95	49	mean	mean	ADJ
fsr-3842	95	50	and	and	CCONJ
fsr-3842	95	51	standard	standard	ADJ
fsr-3842	95	52	deviation	deviation	NOUN
fsr-3842	95	53	(	(	PUNCT
fsr-3842	95	54	in	in	ADP
fsr-3842	95	55	parentheses	parenthesis	NOUN
fsr-3842	95	56	)	)	PUNCT
fsr-3842	95	57	are	be	AUX
fsr-3842	95	58	listed	list	VERB
fsr-3842	95	59	for	for	ADP
fsr-3842	95	60	each	each	DET
fsr-3842	95	61	variable	variable	NOUN
fsr-3842	95	62	]	]	PUNCT
fsr-3842	95	63	total	total	ADJ
fsr-3842	95	64	1992	1992	NUM
fsr-3842	95	65	-	-	SYM
fsr-3842	95	66	1994	1994	NUM
fsr-3842	95	67	1995	1995	NUM
fsr-3842	95	68	-	-	SYM
fsr-3842	95	69	1997	1997	NUM
fsr-3842	95	70	targeted	target	VERB
fsr-3842	95	71	sample	sample	NOUN
fsr-3842	95	72	time	time	NOUN
fsr-3842	95	73	period	period	NOUN
fsr-3842	95	74	time	time	NOUN
fsr-3842	95	75	period	period	NOUN
fsr-3842	95	76	variable	variable	NOUN
fsr-3842	95	77	n	n	NOUN
fsr-3842	95	78	=	=	SYM
fsr-3842	96	1	47	47	NUM
fsr-3842	96	2	n	n	NOUN
fsr-3842	96	3	=	=	SYM
fsr-3842	96	4	27	27	NUM
fsr-3842	96	5	n	n	NOUN
fsr-3842	96	6	=	=	SYM
fsr-3842	96	7	20	20	NUM
fsr-3842	96	8	market	market	NOUN
fsr-3842	96	9	size	size	NOUN
fsr-3842	96	10	of	of	ADP
fsr-3842	96	11	the	the	DET
fsr-3842	96	12	firms	firm	NOUN
fsr-3842	96	13	(	(	PUNCT
fsr-3842	96	14	in	in	ADP
fsr-3842	96	15	millions	million	NOUN
fsr-3842	96	16	of	of	ADP
fsr-3842	96	17	dollars	dollar	NOUN
fsr-3842	96	18	)	)	PUNCT
fsr-3842	96	19	3666.73	3666.73	NUM
fsr-3842	96	20	5474.13	5474.13	NUM
fsr-3842	96	21	a	a	DET
fsr-3842	96	22	1226.74	1226.74	NUM
fsr-3842	96	23	a	a	DET
fsr-3842	96	24	(	(	PUNCT
fsr-3842	96	25	7987.91	7987.91	NUM
fsr-3842	96	26	)	)	PUNCT
fsr-3842	96	27	(	(	PUNCT
fsr-3842	96	28	10,167.45	10,167.45	NOUN
fsr-3842	96	29	)	)	PUNCT
fsr-3842	96	30	(	(	PUNCT
fsr-3842	96	31	1451.54	1451.54	NUM
fsr-3842	96	32	)	)	PUNCT
fsr-3842	96	33	percentage	percentage	NOUN
fsr-3842	96	34	of	of	ADP
fsr-3842	96	35	the	the	DET
fsr-3842	96	36	stock	stock	NOUN
fsr-3842	96	37	held	hold	VERB
fsr-3842	96	38	by	by	ADP
fsr-3842	96	39	institutional	institutional	ADJ
fsr-3842	96	40	investors	investor	NOUN
fsr-3842	96	41	56.68	56.68	NUM
fsr-3842	96	42	60.35	60.35	NUM
fsr-3842	96	43	a	a	DET
fsr-3842	96	44	51.71	51.71	NUM
fsr-3842	96	45	a	a	PRON
fsr-3842	96	46	(	(	PUNCT
fsr-3842	96	47	15.34	15.34	NUM
fsr-3842	96	48	)	)	PUNCT
fsr-3842	96	49	(	(	PUNCT
fsr-3842	96	50	11.33	11.33	NUM
fsr-3842	96	51	)	)	PUNCT
fsr-3842	96	52	(	(	PUNCT
fsr-3842	96	53	18.68	18.68	NUM
fsr-3842	96	54	)	)	PUNCT
fsr-3842	96	55	percentage	percentage	NOUN
fsr-3842	96	56	of	of	ADP
fsr-3842	96	57	the	the	DET
fsr-3842	96	58	stock	stock	NOUN
fsr-3842	96	59	held	hold	VERB
fsr-3842	96	60	by	by	ADP
fsr-3842	96	61	insiders	insider	NOUN
fsr-3842	96	62	5.73	5.73	NUM
fsr-3842	96	63	6.18	6.18	NUM
fsr-3842	96	64	5.13	5.13	NUM
fsr-3842	96	65	(	(	PUNCT
fsr-3842	96	66	10.08	10.08	NUM
fsr-3842	96	67	)	)	PUNCT
fsr-3842	96	68	(	(	PUNCT
fsr-3842	96	69	12.38	12.38	NUM
fsr-3842	96	70	)	)	PUNCT
fsr-3842	96	71	(	(	PUNCT
fsr-3842	96	72	5.96	5.96	NUM
fsr-3842	96	73	)	)	PUNCT
fsr-3842	96	74	percentage	percentage	NOUN
fsr-3842	96	75	of	of	ADP
fsr-3842	96	76	the	the	DET
fsr-3842	96	77	stock	stock	NOUN
fsr-3842	96	78	held	hold	VERB
fsr-3842	96	79	by	by	ADP
fsr-3842	96	80	5	5	NUM
fsr-3842	96	81	%	%	NOUN
fsr-3842	96	82	owners	owner	NOUN
fsr-3842	96	83	24.69	24.69	NUM
fsr-3842	96	84	23.18	23.18	NUM
fsr-3842	96	85	26.73	26.73	NUM
fsr-3842	96	86	(	(	PUNCT
fsr-3842	96	87	18.60	18.60	NUM
fsr-3842	96	88	)	)	PUNCT
fsr-3842	96	89	(	(	PUNCT
fsr-3842	96	90	20.46	20.46	NUM
fsr-3842	96	91	)	)	PUNCT
fsr-3842	96	92	(	(	PUNCT
fsr-3842	96	93	16.02	16.02	NUM
fsr-3842	96	94	)	)	PUNCT
fsr-3842	96	95	note	note	NOUN
fsr-3842	96	96	:	:	PUNCT
fsr-3842	96	97	athe	athe	ADJ
fsr-3842	96	98	firms	firm	NOUN
fsr-3842	96	99	in	in	ADP
fsr-3842	96	100	the	the	DET
fsr-3842	96	101	1992	1992	NUM
fsr-3842	96	102	-	-	SYM
fsr-3842	96	103	1994	1994	NUM
fsr-3842	96	104	time	time	NOUN
fsr-3842	96	105	period	period	NOUN
fsr-3842	96	106	are	be	AUX
fsr-3842	96	107	significantly	significantly	ADV
fsr-3842	96	108	different	different	ADJ
fsr-3842	96	109	from	from	ADP
fsr-3842	96	110	the	the	DET
fsr-3842	96	111	firms	firm	NOUN
fsr-3842	96	112	targeted	target	VERB
fsr-3842	96	113	in	in	ADP
fsr-3842	96	114	the	the	DET
fsr-3842	96	115	1995	1995	NUM
fsr-3842	96	116	-	-	SYM
fsr-3842	96	117	1997	1997	NUM
fsr-3842	96	118	time	time	NOUN
fsr-3842	96	119	period	period	NOUN
fsr-3842	96	120	at	at	ADP
fsr-3842	96	121	the	the	DET
fsr-3842	96	122	0.05	0.05	NUM
fsr-3842	96	123	level	level	NOUN
fsr-3842	96	124	.	.	PUNCT
fsr-3842	97	1	where	where	SCONJ
fsr-3842	97	2	cerin	cerin	NOUN
fsr-3842	97	3	is	be	AUX
fsr-3842	97	4	the	the	DET
fsr-3842	97	5	n	n	NUM
fsr-3842	97	6	-	-	PUNCT
fsr-3842	97	7	day	day	NOUN
fsr-3842	97	8	cumulative	cumulative	ADJ
fsr-3842	97	9	excess	excess	ADJ
fsr-3842	97	10	return	return	NOUN
fsr-3842	97	11	for	for	ADP
fsr-3842	97	12	firm	firm	ADJ
fsr-3842	97	13	i	i	PRON
fsr-3842	97	14	,	,	PUNCT
fsr-3842	97	15	tit	tit	NOUN
fsr-3842	97	16	is	be	AUX
fsr-3842	97	17	the	the	DET
fsr-3842	97	18	daily	daily	ADJ
fsr-3842	97	19	return	return	NOUN
fsr-3842	97	20	for	for	ADP
fsr-3842	97	21	firm	firm	ADJ
fsr-3842	97	22	i	i	NOUN
fsr-3842	97	23	,	,	PUNCT
fsr-3842	97	24	and	and	CCONJ
fsr-3842	97	25	s	s	PROPN
fsr-3842	97	26	t	t	NOUN
fsr-3842	97	27	is	be	AUX
fsr-3842	97	28	the	the	DET
fsr-3842	97	29	daily	daily	ADJ
fsr-3842	97	30	return	return	NOUN
fsr-3842	97	31	on	on	ADP
fsr-3842	97	32	the	the	DET
fsr-3842	97	33	s&p	s&p	PROPN
fsr-3842	97	34	500	500	NUM
fsr-3842	97	35	index	index	NOUN
fsr-3842	97	36	.	.	PUNCT
fsr-3842	98	1	the	the	DET
fsr-3842	98	2	cumulative	cumulative	ADJ
fsr-3842	98	3	return	return	NOUN
fsr-3842	98	4	is	be	AUX
fsr-3842	98	5	calculated	calculate	VERB
fsr-3842	98	6	each	each	DET
fsr-3842	98	7	month	month	NOUN
fsr-3842	98	8	from	from	ADP
fsr-3842	98	9	the	the	DET
fsr-3842	98	10	day	day	NOUN
fsr-3842	98	11	following	follow	VERB
fsr-3842	98	12	the	the	DET
fsr-3842	98	13	announcement	announcement	NOUN
fsr-3842	98	14	through	through	ADP
fsr-3842	98	15	the	the	DET
fsr-3842	98	16	first	first	ADJ
fsr-3842	98	17	year	year	NOUN
fsr-3842	98	18	thereafter	thereafter	ADV
fsr-3842	98	19	.	.	PUNCT
fsr-3842	99	1	consis	consis	NOUN
fsr-3842	99	2	tent	tent	NOUN
fsr-3842	99	3	with	with	ADP
fsr-3842	99	4	prior	prior	ADJ
fsr-3842	99	5	studies	study	NOUN
fsr-3842	99	6	,	,	PUNCT
fsr-3842	99	7	we	we	PRON
fsr-3842	99	8	expect	expect	VERB
fsr-3842	99	9	to	to	PART
fsr-3842	99	10	see	see	VERB
fsr-3842	99	11	long	long	ADJ
fsr-3842	99	12	term	term	NOUN
fsr-3842	99	13	gains	gain	NOUN
fsr-3842	99	14	to	to	ADP
fsr-3842	99	15	stockholders	stockholder	NOUN
fsr-3842	99	16	'	'	PART
fsr-3842	99	17	wealth	wealth	NOUN
fsr-3842	99	18	following	follow	VERB
fsr-3842	99	19	the	the	DET
fsr-3842	99	20	public	public	ADJ
fsr-3842	99	21	announcement	announcement	NOUN
fsr-3842	99	22	of	of	ADP
fsr-3842	99	23	a	a	DET
fsr-3842	99	24	firm	firm	NOUN
fsr-3842	99	25	being	be	AUX
fsr-3842	99	26	targeted	target	VERB
fsr-3842	99	27	by	by	ADP
fsr-3842	99	28	calpers	calpers	PROPN
fsr-3842	99	29	.	.	PUNCT
fsr-3842	100	1	cumulative	cumulative	ADJ
fsr-3842	100	2	monthly	monthly	ADJ
fsr-3842	100	3	excess	excess	ADJ
fsr-3842	100	4	returns	return	NOUN
fsr-3842	100	5	are	be	AUX
fsr-3842	100	6	examined	examine	VERB
fsr-3842	100	7	the	the	DET
fsr-3842	100	8	year	year	NOUN
fsr-3842	100	9	following	follow	VERB
fsr-3842	100	10	the	the	DET
fsr-3842	100	11	announce	announce	NOUN
fsr-3842	100	12	ment	ment	NOUN
fsr-3842	100	13	for	for	ADP
fsr-3842	100	14	the	the	DET
fsr-3842	100	15	entire	entire	ADJ
fsr-3842	100	16	sample	sample	NOUN
fsr-3842	100	17	and	and	CCONJ
fsr-3842	100	18	for	for	ADP
fsr-3842	100	19	two	two	NUM
fsr-3842	100	20	sub	sub	NOUN
fsr-3842	100	21	-	-	ADJ
fsr-3842	100	22	periods	period	NOUN
fsr-3842	100	23	,	,	PUNCT
fsr-3842	100	24	1992	1992	NUM
fsr-3842	100	25	-	-	SYM
fsr-3842	100	26	1994	1994	NUM
fsr-3842	100	27	and	and	CCONJ
fsr-3842	100	28	1995	1995	NUM
fsr-3842	100	29	-	-	SYM
fsr-3842	100	30	1997	1997	NUM
fsr-3842	100	31	.	.	PUNCT
fsr-3842	101	1	the	the	DET
fsr-3842	101	2	later	later	ADJ
fsr-3842	101	3	period	period	NOUN
fsr-3842	101	4	corresponds	correspond	VERB
fsr-3842	101	5	to	to	ADP
fsr-3842	101	6	targets	target	NOUN
fsr-3842	101	7	announced	announce	VERB
fsr-3842	101	8	in	in	ADP
fsr-3842	101	9	the	the	DET
fsr-3842	101	10	post	post	ADJ
fsr-3842	101	11	-	-	ADJ
fsr-3842	101	12	hanson	hanson	ADJ
fsr-3842	101	13	era	era	NOUN
fsr-3842	101	14	.	.	PUNCT
fsr-3842	102	1	using	use	VERB
fsr-3842	102	2	standard	standard	PROPN
fsr-3842	102	3	t	t	PROPN
fsr-3842	102	4	-	-	PUNCT
fsr-3842	102	5	tests	test	NOUN
fsr-3842	102	6	,	,	PUNCT
fsr-3842	102	7	we	we	PRON
fsr-3842	102	8	test	test	VERB
fsr-3842	102	9	whether	whether	SCONJ
fsr-3842	102	10	the	the	DET
fsr-3842	102	11	cumulative	cumulative	ADJ
fsr-3842	102	12	excess	excess	ADJ
fsr-3842	102	13	returns	return	NOUN
fsr-3842	102	14	are	be	AUX
fsr-3842	102	15	greater	great	ADJ
fsr-3842	102	16	than	than	ADP
fsr-3842	102	17	zero	zero	NUM
fsr-3842	102	18	for	for	ADP
fsr-3842	102	19	each	each	DET
fsr-3842	102	20	month	month	NOUN
fsr-3842	102	21	,	,	PUNCT
fsr-3842	102	22	indicating	indicate	VERB
fsr-3842	102	23	whether	whether	SCONJ
fsr-3842	102	24	a	a	DET
fsr-3842	102	25	portfolio	portfolio	NOUN
fsr-3842	102	26	of	of	ADP
fsr-3842	102	27	calpers	calpers	PROPN
fsr-3842	102	28	'	'	PART
fsr-3842	102	29	targets	target	NOUN
fsr-3842	102	30	would	would	AUX
fsr-3842	102	31	earn	earn	VERB
fsr-3842	102	32	higher	high	ADJ
fsr-3842	102	33	returns	return	NOUN
fsr-3842	102	34	than	than	ADP
fsr-3842	102	35	the	the	DET
fsr-3842	102	36	s&p	s&p	PROPN
fsr-3842	102	37	500	500	NUM
fsr-3842	102	38	index	index	NOUN
fsr-3842	102	39	.	.	PUNCT
fsr-3842	103	1	we	we	PRON
fsr-3842	103	2	also	also	ADV
fsr-3842	103	3	test	test	VERB
fsr-3842	103	4	whether	whether	SCONJ
fsr-3842	103	5	the	the	DET
fsr-3842	103	6	returns	return	NOUN
fsr-3842	103	7	in	in	ADP
fsr-3842	103	8	the	the	DET
fsr-3842	103	9	two	two	NUM
fsr-3842	103	10	sub	sub	NOUN
fsr-3842	103	11	-	-	ADJ
fsr-3842	103	12	periods	period	NOUN
fsr-3842	103	13	are	be	AUX
fsr-3842	103	14	statistically	statistically	ADV
fsr-3842	103	15	different	different	ADJ
fsr-3842	103	16	.	.	PUNCT
fsr-3842	104	1	other	other	ADJ
fsr-3842	104	2	factors	factor	NOUN
fsr-3842	104	3	such	such	ADJ
fsr-3842	104	4	as	as	ADP
fsr-3842	104	5	ownership	ownership	NOUN
fsr-3842	104	6	structure	structure	NOUN
fsr-3842	104	7	,	,	PUNCT
fsr-3842	104	8	finn	finn	PROPN
fsr-3842	104	9	size	size	NOUN
fsr-3842	104	10	,	,	PUNCT
fsr-3842	104	11	and	and	CCONJ
fsr-3842	104	12	the	the	DET
fsr-3842	104	13	type	type	NOUN
fsr-3842	104	14	of	of	ADP
fsr-3842	104	15	significant	significant	ADJ
fsr-3842	104	16	mana	mana	NOUN
fsr-3842	104	17	gerial	gerial	ADJ
fsr-3842	104	18	activities	activity	NOUN
fsr-3842	104	19	that	that	PRON
fsr-3842	104	20	were	be	AUX
fsr-3842	104	21	undertaken	undertake	VERB
fsr-3842	104	22	during	during	ADP
fsr-3842	104	23	the	the	DET
fsr-3842	104	24	year	year	NOUN
fsr-3842	104	25	after	after	SCONJ
fsr-3842	104	26	targeting	target	VERB
fsr-3842	104	27	are	be	AUX
fsr-3842	104	28	examined	examine	VERB
fsr-3842	104	29	for	for	ADP
fsr-3842	104	30	effects	effect	NOUN
fsr-3842	104	31	on	on	ADP
fsr-3842	104	32	stockholder	stockholder	NOUN
fsr-3842	104	33	returns	return	NOUN
fsr-3842	104	34	.	.	PUNCT
fsr-3842	105	1	both	both	PRON
fsr-3842	105	2	firm	firm	ADJ
fsr-3842	105	3	size	size	NOUN
fsr-3842	105	4	and	and	CCONJ
fsr-3842	105	5	the	the	DET
fsr-3842	105	6	percentage	percentage	NOUN
fsr-3842	105	7	of	of	ADP
fsr-3842	105	8	the	the	DET
fsr-3842	105	9	stock	stock	NOUN
fsr-3842	105	10	held	hold	VERB
fsr-3842	105	11	by	by	ADP
fsr-3842	105	12	insti	insti	PROPN
fsr-3842	105	13	tutional	tutional	PROPN
fsr-3842	105	14	investors	investor	NOUN
fsr-3842	105	15	are	be	AUX
fsr-3842	105	16	significantly	significantly	ADV
fsr-3842	105	17	different	different	ADJ
fsr-3842	105	18	for	for	ADP
fsr-3842	105	19	the	the	DET
fsr-3842	105	20	two	two	NUM
fsr-3842	105	21	periods	period	NOUN
fsr-3842	105	22	(	(	PUNCT
fsr-3842	105	23	table	table	NOUN
fsr-3842	105	24	3	3	NUM
fsr-3842	105	25	)	)	PUNCT
fsr-3842	105	26	.	.	PUNCT
fsr-3842	106	1	finally	finally	ADV
fsr-3842	106	2	,	,	PUNCT
fsr-3842	106	3	the	the	DET
fsr-3842	106	4	excess	excess	ADJ
fsr-3842	106	5	stock	stock	NOUN
fsr-3842	106	6	returns	return	NOUN
fsr-3842	106	7	are	be	AUX
fsr-3842	106	8	regressed	regress	VERB
fsr-3842	106	9	against	against	ADP
fsr-3842	106	10	a	a	DET
fsr-3842	106	11	dummy	dummy	ADJ
fsr-3842	106	12	variable	variable	NOUN
fsr-3842	106	13	for	for	ADP
fsr-3842	106	14	time	time	NOUN
fsr-3842	106	15	period	period	NOUN
fsr-3842	106	16	and	and	CCONJ
fsr-3842	106	17	the	the	DET
fsr-3842	106	18	other	other	ADJ
fsr-3842	106	19	variables	variable	NOUN
fsr-3842	106	20	.	.	PUNCT
fsr-3842	107	1	the	the	DET
fsr-3842	107	2	regression	regression	NOUN
fsr-3842	107	3	results	result	NOUN
fsr-3842	107	4	will	will	AUX
fsr-3842	107	5	indicate	indicate	VERB
fsr-3842	107	6	whether	whether	SCONJ
fsr-3842	107	7	the	the	DET
fsr-3842	107	8	relationship	relationship	NOUN
fsr-3842	107	9	between	between	ADP
fsr-3842	107	10	the	the	DET
fsr-3842	107	11	excess	excess	ADJ
fsr-3842	107	12	returns	return	NOUN
fsr-3842	107	13	and	and	CCONJ
fsr-3842	107	14	the	the	DET
fsr-3842	107	15	other	other	ADJ
fsr-3842	107	16	variables	variable	NOUN
fsr-3842	107	17	is	be	AUX
fsr-3842	107	18	conditional	conditional	ADJ
fsr-3842	107	19	on	on	ADP
fsr-3842	107	20	the	the	DET
fsr-3842	107	21	time	time	NOUN
fsr-3842	107	22	period	period	NOUN
fsr-3842	107	23	.	.	PUNCT
fsr-3842	108	1	iv	iv	X
fsr-3842	108	2	.	.	PROPN
fsr-3842	108	3	results	result	VERB
fsr-3842	108	4	the	the	DET
fsr-3842	108	5	mean	mean	ADJ
fsr-3842	108	6	cumulative	cumulative	ADJ
fsr-3842	108	7	excess	excess	ADJ
fsr-3842	108	8	return	return	NOUN
fsr-3842	108	9	(	(	PUNCT
fsr-3842	108	10	cer	cer	NOUN
fsr-3842	108	11	)	)	PUNCT
fsr-3842	108	12	is	be	AUX
fsr-3842	108	13	reported	report	VERB
fsr-3842	108	14	monthly	monthly	ADV
fsr-3842	108	15	for	for	ADP
fsr-3842	108	16	the	the	DET
fsr-3842	108	17	whole	whole	ADJ
fsr-3842	108	18	sample	sample	NOUN
fsr-3842	108	19	and	and	CCONJ
fsr-3842	108	20	for	for	ADP
fsr-3842	108	21	the	the	DET
fsr-3842	108	22	two	two	NUM
fsr-3842	108	23	sub	sub	NOUN
fsr-3842	108	24	-	-	ADJ
fsr-3842	108	25	periods	periods	ADJ
fsr-3842	108	26	(	(	PUNCT
fsr-3842	108	27	table	table	NOUN
fsr-3842	108	28	4	4	NUM
fsr-3842	108	29	,	,	PUNCT
fsr-3842	108	30	figure	figure	NOUN
fsr-3842	108	31	1	1	NUM
fsr-3842	108	32	)	)	PUNCT
fsr-3842	108	33	.	.	PUNCT
fsr-3842	109	1	for	for	ADP
fsr-3842	109	2	the	the	DET
fsr-3842	109	3	total	total	ADJ
fsr-3842	109	4	sample	sample	NOUN
fsr-3842	109	5	,	,	PUNCT
fsr-3842	109	6	the	the	DET
fsr-3842	109	7	cer	cer	NOUN
fsr-3842	109	8	is	be	AUX
fsr-3842	109	9	positive	positive	ADJ
fsr-3842	109	10	for	for	ADP
fsr-3842	109	11	each	each	DET
fsr-3842	109	12	month	month	NOUN
fsr-3842	109	13	,	,	PUNCT
fsr-3842	109	14	which	which	PRON
fsr-3842	109	15	indicates	indicate	VERB
fsr-3842	109	16	that	that	SCONJ
fsr-3842	109	17	an	an	DET
fsr-3842	109	18	investor	investor	NOUN
fsr-3842	109	19	holding	hold	VERB
fsr-3842	109	20	a	a	DET
fsr-3842	109	21	portfolio	portfolio	NOUN
fsr-3842	109	22	of	of	ADP
fsr-3842	109	23	the	the	DET
fsr-3842	109	24	firms	firm	NOUN
fsr-3842	109	25	targeted	target	VERB
fsr-3842	109	26	by	by	ADP
fsr-3842	109	27	calpers	calpers	PROPN
fsr-3842	109	28	would	would	AUX
fsr-3842	109	29	earn	earn	VERB
fsr-3842	109	30	higher	high	ADJ
fsr-3842	109	31	returns	return	NOUN
fsr-3842	109	32	than	than	ADP
fsr-3842	109	33	holding	hold	VERB
fsr-3842	109	34	the	the	DET
fsr-3842	109	35	s&p	s&p	PROPN
fsr-3842	109	36	500	500	NUM
fsr-3842	109	37	index	index	NOUN
fsr-3842	109	38	.	.	PUNCT
fsr-3842	110	1	however	however	ADV
fsr-3842	110	2	,	,	PUNCT
fsr-3842	110	3	the	the	DET
fsr-3842	110	4	excess	excess	ADJ
fsr-3842	110	5	returns	return	NOUN
fsr-3842	110	6	are	be	AUX
fsr-3842	110	7	statistically	statistically	ADV
fsr-3842	110	8	different	different	ADJ
fsr-3842	110	9	from	from	ADP
fsr-3842	110	10	zero	zero	NUM
fsr-3842	110	11	only	only	ADV
fsr-3842	110	12	up	up	ADP
fsr-3842	110	13	to	to	PART
fsr-3842	110	14	eight	eight	NUM
fsr-3842	110	15	months	month	NOUN
fsr-3842	110	16	following	follow	VERB
fsr-3842	110	17	the	the	DET
fsr-3842	110	18	announcement	announcement	NOUN
fsr-3842	110	19	.	.	PUNCT
fsr-3842	111	1	for	for	ADP
fsr-3842	111	2	the	the	DET
fsr-3842	111	3	entire	entire	ADJ
fsr-3842	111	4	year	year	NOUN
fsr-3842	111	5	,	,	PUNCT
fsr-3842	111	6	the	the	DET
fsr-3842	111	7	cumulative	cumulative	ADJ
fsr-3842	111	8	excess	excess	ADJ
fsr-3842	111	9	return	return	NOUN
fsr-3842	111	10	of	of	ADP
fsr-3842	111	11	the	the	DET
fsr-3842	111	12	portfolio	portfolio	NOUN
fsr-3842	111	13	of	of	ADP
fsr-3842	111	14	targeted	target	VERB
fsr-3842	111	15	firms	firm	NOUN
fsr-3842	111	16	is	be	AUX
fsr-3842	111	17	not	not	PART
fsr-3842	111	18	different	different	ADJ
fsr-3842	111	19	than	than	ADP
fsr-3842	111	20	the	the	DET
fsr-3842	111	21	return	return	NOUN
fsr-3842	111	22	of	of	ADP
fsr-3842	111	23	the	the	DET
fsr-3842	111	24	s&p	s&p	PROPN
fsr-3842	111	25	500	500	NUM
fsr-3842	111	26	index	index	NOUN
fsr-3842	111	27	.	.	PUNCT
fsr-3842	112	1	thus	thus	ADV
fsr-3842	112	2	,	,	PUNCT
fsr-3842	112	3	the	the	DET
fsr-3842	112	4	act	act	NOUN
fsr-3842	112	5	of	of	ADP
fsr-3842	112	6	targeting	targeting	NOUN
fsr-3842	112	7	has	have	VERB
fsr-3842	112	8	shareholder	shareholder	NOUN
fsr-3842	112	9	wealth	wealth	NOUN
fsr-3842	112	10	effects	effect	NOUN
fsr-3842	112	11	7	7	NUM
fsr-3842	112	12	t	t	NOUN
fsr-3842	112	13	a	a	DET
fsr-3842	112	14	b	b	NOUN
fsr-3842	112	15	l	l	NOUN
fsr-3842	112	16	e	e	NOUN
fsr-3842	112	17	4	4	NUM
fsr-3842	112	18	c	c	NOUN
fsr-3842	112	19	u	u	NOUN
fsr-3842	112	20	m	m	NOUN
fsr-3842	112	21	u	u	NOUN
fsr-3842	112	22	l	l	NOUN
fsr-3842	112	23	a	a	NOUN
fsr-3842	112	24	t	t	X
fsr-3842	112	25	i	i	PRON
fsr-3842	112	26	v	v	ADP
fsr-3842	112	27	e	e	X
fsr-3842	112	28	e	e	X
fsr-3842	112	29	x	x	X
fsr-3842	112	30	c	c	X
fsr-3842	112	31	e	e	NOUN
fsr-3842	112	32	s	s	PROPN
fsr-3842	112	33	s	s	X
fsr-3842	112	34	r	r	NOUN
fsr-3842	112	35	e	e	NOUN
fsr-3842	112	36	t	t	NOUN
fsr-3842	112	37	u	u	NOUN
fsr-3842	112	38	r	r	NOUN
fsr-3842	112	39	n	n	NOUN
fsr-3842	112	40	s	s	X
fsr-3842	112	41	(	(	PUNCT
fsr-3842	112	42	c	c	NOUN
fsr-3842	112	43	e	e	NOUN
fsr-3842	112	44	r	r	NOUN
fsr-3842	112	45	)	)	PUNCT
fsr-3842	113	1	o	o	NOUN
fsr-3842	114	1	f	f	PROPN
fsr-3842	114	2	c	c	PROPN
fsr-3842	114	3	a	a	DET
fsr-3842	114	4	l	l	NOUN
fsr-3842	114	5	p	p	X
fsr-3842	114	6	e	e	PROPN
fsr-3842	114	7	r	r	NOUN
fsr-3842	114	8	s	s	PROPN
fsr-3842	114	9	t	t	NOUN
fsr-3842	114	10	a	a	DET
fsr-3842	114	11	r	r	NOUN
fsr-3842	114	12	g	g	NOUN
fsr-3842	114	13	e	e	NOUN
fsr-3842	114	14	t	t	PROPN
fsr-3842	114	15	s	s	VERB
fsr-3842	114	16	a	a	DET
fsr-3842	114	17	f	f	X
fsr-3842	114	18	te	te	ADP
fsr-3842	114	19	r	r	PROPN
fsr-3842	114	20	the	the	DET
fsr-3842	114	21	wall	wall	PROPN
fsr-3842	114	22	street	street	PROPN
fsr-3842	114	23	journal	journal	PROPN
fsr-3842	114	24	a	a	DET
fsr-3842	114	25	n	n	CCONJ
fsr-3842	114	26	n	n	NOUN
fsr-3842	114	27	o	o	NOUN
fsr-3842	114	28	u	u	NOUN
fsr-3842	114	29	n	n	ADV
fsr-3842	114	30	c	c	NOUN
fsr-3842	114	31	e	e	X
fsr-3842	114	32	m	m	NOUN
fsr-3842	114	33	e	e	NOUN
fsr-3842	114	34	n	n	ADP
fsr-3842	114	35	t	t	PROPN
fsr-3842	114	36	d	d	NOUN
fsr-3842	114	37	a	a	DET
fsr-3842	114	38	t	t	NOUN
fsr-3842	114	39	e	e	NOUN
fsr-3842	114	40	a	a	DET
fsr-3842	114	41	time	time	NOUN
fsr-3842	114	42	pehod	pehod	ADJ
fsr-3842	114	43	(	(	PUNCT
fsr-3842	114	44	monks	monk	NOUN
fsr-3842	114	45	after	after	ADP
fsr-3842	114	46	~e	~e	NUM
fsr-3842	114	47	wsj	wsj	ADJ
fsr-3842	114	48	announcement	announcement	NOUN
fsr-3842	114	49	difference	difference	NOUN
fsr-3842	114	50	between	between	ADP
fsr-3842	114	51	calpers	calpers	PROPN
fsr-3842	114	52	targets	target	VERB
fsr-3842	114	53	time	time	NOUN
fsr-3842	114	54	periods	period	VERB
fsr-3842	114	55	1992	1992	NUM
fsr-3842	114	56	-	-	SYM
fsr-3842	114	57	1994	1994	NUM
fsr-3842	114	58	1995	1995	NUM
fsr-3842	114	59	-	-	SYM
fsr-3842	114	60	1997	1997	NUM
fsr-3842	114	61	total	total	NOUN
fsr-3842	114	62	sample	sample	NOUN
fsr-3842	114	63	time	time	NOUN
fsr-3842	114	64	period	period	NOUN
fsr-3842	114	65	time	time	NOUN
fsr-3842	114	66	period	period	NOUN
fsr-3842	114	67	n	n	NOUN
fsr-3842	114	68	=	=	SYM
fsr-3842	114	69	47	47	NUM
fsr-3842	114	70	n	n	NOUN
fsr-3842	114	71	=	=	SYM
fsr-3842	114	72	27	27	NUM
fsr-3842	114	73	n	n	NOUN
fsr-3842	114	74	=	=	SYM
fsr-3842	114	75	20	20	NUM
fsr-3842	114	76	test	test	NOUN
fsr-3842	114	77	cer	cer	PROPN
fsr-3842	114	78	cer	cer	PROPN
fsr-3842	114	79	cer	cer	PROPN
fsr-3842	114	80	statistic	statistic	PROPN
fsr-3842	114	81	1	1	NUM
fsr-3842	114	82	2.47	2.47	NUM
fsr-3842	114	83	%	%	NOUN
fsr-3842	114	84	0.95	0.95	NUM
fsr-3842	114	85	%	%	NOUN
fsr-3842	114	86	4.54	4.54	NUM
fsr-3842	114	87	%	%	NOUN
fsr-3842	114	88	-0.77	-0.77	NUM
fsr-3842	114	89	2	2	NUM
fsr-3842	114	90	6.98	6.98	NUM
fsr-3842	114	91	%	%	NOUN
fsr-3842	114	92	*	*	NOUN
fsr-3842	114	93	3.57	3.57	NUM
fsr-3842	114	94	%	%	NOUN
fsr-3842	114	95	11.59	11.59	NUM
fsr-3842	114	96	%	%	NOUN
fsr-3842	114	97	*	*	PUNCT
fsr-3842	114	98	-1.57	-1.57	NUM
fsr-3842	114	99	3	3	NUM
fsr-3842	114	100	8.63	8.63	NUM
fsr-3842	114	101	%	%	NOUN
fsr-3842	114	102	*	*	PROPN
fsr-3842	114	103	6.03	6.03	NUM
fsr-3842	114	104	%	%	NOUN
fsr-3842	114	105	*	*	NOUN
fsr-3842	114	106	12.14	12.14	NUM
fsr-3842	114	107	%	%	NOUN
fsr-3842	114	108	-0.79	-0.79	NOUN
fsr-3842	114	109	4	4	NUM
fsr-3842	114	110	11.05	11.05	NUM
fsr-3842	114	111	%	%	NOUN
fsr-3842	114	112	*	*	PROPN
fsr-3842	114	113	8.03	8.03	NUM
fsr-3842	114	114	%	%	NOUN
fsr-3842	114	115	*	*	NOUN
fsr-3842	114	116	15.18	15.18	NUM
fsr-3842	114	117	%	%	NOUN
fsr-3842	114	118	-0.75	-0.75	NUM
fsr-3842	114	119	5	5	NUM
fsr-3842	114	120	5.47	5.47	NUM
fsr-3842	114	121	%	%	NOUN
fsr-3842	114	122	4.76	4.76	NUM
fsr-3842	114	123	%	%	NOUN
fsr-3842	114	124	6.42	6.42	NUM
fsr-3842	114	125	%	%	NOUN
fsr-3842	114	126	-0.18	-0.18	NUM
fsr-3842	114	127	6	6	NUM
fsr-3842	114	128	5.80	5.80	NUM
fsr-3842	114	129	%	%	NOUN
fsr-3842	114	130	7.13	7.13	NUM
fsr-3842	114	131	%	%	NOUN
fsr-3842	114	132	*	*	NOUN
fsr-3842	114	133	4.00	4.00	NUM
fsr-3842	114	134	%	%	NOUN
fsr-3842	114	135	0.38	0.38	NUM
fsr-3842	114	136	7	7	NUM
fsr-3842	114	137	8.27	8.27	NUM
fsr-3842	114	138	%	%	NOUN
fsr-3842	114	139	*	*	PROPN
fsr-3842	114	140	10.41	10.41	NUM
fsr-3842	114	141	%	%	NOUN
fsr-3842	114	142	*	*	NUM
fsr-3842	114	143	5.37	5.37	NUM
fsr-3842	114	144	%	%	NOUN
fsr-3842	114	145	0.61	0.61	NUM
fsr-3842	114	146	8	8	NUM
fsr-3842	114	147	8.35	8.35	NUM
fsr-3842	114	148	%	%	NOUN
fsr-3842	114	149	*	*	PROPN
fsr-3842	114	150	11.30	11.30	NUM
fsr-3842	114	151	%	%	NOUN
fsr-3842	114	152	*	*	NOUN
fsr-3842	114	153	4.36	4.36	NUM
fsr-3842	114	154	%	%	NOUN
fsr-3842	114	155	0.90	0.90	NUM
fsr-3842	114	156	9	9	NUM
fsr-3842	114	157	4.09	4.09	NUM
fsr-3842	114	158	%	%	NOUN
fsr-3842	114	159	11.93	11.93	NUM
fsr-3842	114	160	%	%	NOUN
fsr-3842	114	161	*	*	PUNCT
fsr-3842	115	1	-6.50	-6.50	NUM
fsr-3842	115	2	%	%	NOUN
fsr-3842	115	3	2.24	2.24	NUM
fsr-3842	115	4	b	b	NUM
fsr-3842	115	5	10	10	NUM
fsr-3842	115	6	1.82	1.82	NUM
fsr-3842	115	7	%	%	NOUN
fsr-3842	115	8	12.54	12.54	NUM
fsr-3842	115	9	%	%	NOUN
fsr-3842	115	10	*	*	PUNCT
fsr-3842	116	1	-12.60	-12.60	PROPN
fsr-3842	116	2	%	%	NOUN
fsr-3842	116	3	2.91	2.91	NUM
fsr-3842	116	4	b	b	NOUN
fsr-3842	116	5	11	11	NUM
fsr-3842	116	6	0.65	0.65	NUM
fsr-3842	116	7	%	%	NOUN
fsr-3842	116	8	13.07	13.07	NUM
fsr-3842	116	9	%	%	NOUN
fsr-3842	116	10	*	*	PUNCT
fsr-3842	117	1	-19.18	-19.18	NOUN
fsr-3842	118	1	%	%	NOUN
fsr-3842	118	2	*	*	PUNCT
fsr-3842	118	3	3.35	3.35	NUM
fsr-3842	118	4	b	b	NOUN
fsr-3842	118	5	12	12	NUM
fsr-3842	118	6	0.17	0.17	NUM
fsr-3842	118	7	%	%	NOUN
fsr-3842	118	8	14.79	14.79	NUM
fsr-3842	118	9	%	%	NOUN
fsr-3842	118	10	*	*	PUNCT
fsr-3842	118	11	-19.56	-19.56	PROPN
fsr-3842	118	12	%	%	NOUN
fsr-3842	118	13	*	*	PUNCT
fsr-3842	118	14	3.4@	3.4@	NUM
fsr-3842	118	15	notes	note	VERB
fsr-3842	118	16	:	:	PUNCT
fsr-3842	118	17	athe	athe	PROPN
fsr-3842	118	18	cumulative	cumulative	ADJ
fsr-3842	118	19	excess	excess	ADJ
fsr-3842	118	20	return	return	NOUN
fsr-3842	118	21	is	be	AUX
fsr-3842	118	22	calculated	calculate	VERB
fsr-3842	118	23	as	as	ADP
fsr-3842	118	24	the	the	DET
fsr-3842	118	25	mean	mean	ADJ
fsr-3842	118	26	difference	difference	NOUN
fsr-3842	118	27	between	between	ADP
fsr-3842	118	28	the	the	DET
fsr-3842	118	29	return	return	NOUN
fsr-3842	118	30	for	for	ADP
fsr-3842	118	31	the	the	DET
fsr-3842	118	32	calpers	calpers	PROPN
fsr-3842	118	33	targets	target	NOUN
fsr-3842	118	34	minus	minus	ADP
fsr-3842	118	35	the	the	DET
fsr-3842	118	36	return	return	NOUN
fsr-3842	118	37	for	for	ADP
fsr-3842	118	38	the	the	DET
fsr-3842	118	39	standard	standard	PROPN
fsr-3842	118	40	&	&	CCONJ
fsr-3842	118	41	poors	poors	PROPN
fsr-3842	118	42	500	500	NUM
fsr-3842	118	43	index	index	NOUN
fsr-3842	118	44	,	,	PUNCT
fsr-3842	118	45	bthe	bthe	DET
fsr-3842	118	46	cumulative	cumulative	ADJ
fsr-3842	118	47	excess	excess	ADJ
fsr-3842	118	48	returns	return	NOUN
fsr-3842	118	49	for	for	ADP
fsr-3842	118	50	the	the	DET
fsr-3842	118	51	firms	firm	NOUN
fsr-3842	118	52	in	in	ADP
fsr-3842	118	53	the	the	DET
fsr-3842	118	54	1992	1992	NUM
fsr-3842	118	55	-	-	SYM
fsr-3842	118	56	1994	1994	NUM
fsr-3842	118	57	targeted	target	VERB
fsr-3842	118	58	group	group	NOUN
fsr-3842	118	59	are	be	AUX
fsr-3842	118	60	significantly	significantly	ADV
fsr-3842	118	61	different	different	ADJ
fsr-3842	118	62	from	from	ADP
fsr-3842	118	63	the	the	DET
fsr-3842	118	64	1995	1995	NUM
fsr-3842	118	65	-	-	SYM
fsr-3842	118	66	1997	1997	NUM
fsr-3842	118	67	targeted	target	VERB
fsr-3842	118	68	group	group	NOUN
fsr-3842	118	69	at	at	ADP
fsr-3842	118	70	the	the	DET
fsr-3842	118	71	0.05	0.05	NUM
fsr-3842	118	72	level	level	NOUN
fsr-3842	118	73	.	.	PUNCT
fsr-3842	119	1	*	*	PUNCT
fsr-3842	119	2	significantly	significantly	ADV
fsr-3842	119	3	different	different	ADJ
fsr-3842	119	4	from	from	ADP
fsr-3842	119	5	zero	zero	NUM
fsr-3842	119	6	at	at	ADP
fsr-3842	119	7	the	the	DET
fsr-3842	119	8	0.05	0.05	NUM
fsr-3842	119	9	level	level	NOUN
fsr-3842	119	10	.	.	PUNCT
fsr-3842	120	1	0.2	0.2	NUM
fsr-3842	120	2	/	/	SYM
fsr-3842	120	3	0.15	0.15	NUM
fsr-3842	120	4	[	[	PUNCT
fsr-3842	120	5	.	.	PUNCT
fsr-3842	120	6	.	.	PUNCT
fsr-3842	120	7	.	.	PUNCT
fsr-3842	120	8	.	.	PUNCT
fsr-3842	120	9	.	.	PUNCT
fsr-3842	120	10	.	.	PUNCT
fsr-3842	120	11	.	.	PUNCT
fsr-3842	120	12	.	.	PUNCT
fsr-3842	120	13	.	.	PUNCT
fsr-3842	120	14	.	.	PUNCT
fsr-3842	120	15	.	.	PUNCT
fsr-3842	120	16	.	.	PUNCT
fsr-3842	120	17	.	.	PUNCT
fsr-3842	120	18	.	.	PUNCT
fsr-3842	120	19	.	.	PUNCT
fsr-3842	120	20	.	.	PUNCT
fsr-3842	120	21	.	.	PUNCT
fsr-3842	120	22	.	.	PUNCT
fsr-3842	120	23	.	.	PUNCT
fsr-3842	120	24	.	.	PUNCT
fsr-3842	120	25	.	.	PUNCT
fsr-3842	120	26	.	.	PUNCT
fsr-3842	120	27	.	.	PUNCT
fsr-3842	120	28	.	.	PUNCT
fsr-3842	120	29	.	.	PUNCT
fsr-3842	120	30	.	.	PUNCT
fsr-3842	121	1	;	;	PUNCT
fsr-3842	121	2	-~	-~	PROPN
fsr-3842	121	3	:	:	PUNCT
fsr-3842	121	4	.	.	PUNCT
fsr-3842	121	5	.	.	PUNCT
fsr-3842	121	6	.	.	PUNCT
fsr-3842	121	7	.	.	PUNCT
fsr-3842	121	8	.	.	PUNCT
fsr-3842	121	9	.	.	PUNCT
fsr-3842	121	10	.	.	PUNCT
fsr-3842	121	11	.	.	PUNCT
fsr-3842	121	12	.	.	PUNCT
fsr-3842	121	13	.	.	PUNCT
fsr-3842	121	14	.	.	PUNCT
fsr-3842	121	15	.	.	PUNCT
fsr-3842	121	16	.	.	PUNCT
fsr-3842	121	17	.	.	PUNCT
fsr-3842	121	18	.	.	PUNCT
fsr-3842	121	19	.	.	PUNCT
fsr-3842	121	20	.	.	PUNCT
fsr-3842	121	21	.	.	PUNCT
fsr-3842	121	22	.	.	PUNCT
fsr-3842	121	23	.	.	PUNCT
fsr-3842	121	24	.	.	PUNCT
fsr-3842	121	25	.	.	PUNCT
fsr-3842	121	26	.	.	PUNCT
fsr-3842	121	27	.	.	PUNCT
fsr-3842	121	28	.	.	PUNCT
fsr-3842	121	29	.	.	PUNCT
fsr-3842	121	30	.	.	PUNCT
fsr-3842	121	31	.	.	PUNCT
fsr-3842	121	32	.	.	PUNCT
fsr-3842	121	33	.	.	PUNCT
fsr-3842	121	34	.	.	PUNCT
fsr-3842	121	35	.	.	PUNCT
fsr-3842	121	36	.	.	PUNCT
fsr-3842	121	37	.	.	PUNCT
fsr-3842	121	38	.	.	PUNCT
fsr-3842	121	39	.	.	PUNCT
fsr-3842	121	40	.	.	PUNCT
fsr-3842	121	41	.	.	PUNCT
fsr-3842	121	42	.	.	PUNCT
fsr-3842	121	43	.	.	PUNCT
fsr-3842	121	44	.	.	PUNCT
fsr-3842	121	45	.	.	PUNCT
fsr-3842	121	46	.	.	PUNCT
fsr-3842	121	47	.	.	PUNCT
fsr-3842	121	48	.	.	PUNCT
fsr-3842	121	49	.	.	PUNCT
fsr-3842	121	50	.	.	PUNCT
fsr-3842	121	51	.	.	PUNCT
fsr-3842	121	52	.	.	PUNCT
fsr-3842	121	53	.	.	PUNCT
fsr-3842	121	54	.	.	PUNCT
fsr-3842	121	55	.	.	PUNCT
fsr-3842	121	56	.	.	PUNCT
fsr-3842	121	57	.	.	PUNCT
fsr-3842	121	58	.	.	PUNCT
fsr-3842	121	59	.	.	PUNCT
fsr-3842	121	60	.	.	PUNCT
fsr-3842	121	61	.	.	PUNCT
fsr-3842	121	62	.	.	PUNCT
fsr-3842	121	63	.	.	PUNCT
fsr-3842	121	64	.	.	PUNCT
fsr-3842	121	65	.	.	PUNCT
fsr-3842	121	66	.	.	PUNCT
fsr-3842	121	67	.	.	PUNCT
fsr-3842	121	68	.	.	PUNCT
fsr-3842	121	69	.	.	PUNCT
fsr-3842	121	70	.	.	PUNCT
fsr-3842	121	71	.	.	PUNCT
fsr-3842	121	72	.	.	PUNCT
fsr-3842	121	73	.	.	PUNCT
fsr-3842	121	74	.	.	PUNCT
fsr-3842	121	75	.	.	PUNCT
fsr-3842	121	76	.	.	PUNCT
fsr-3842	121	77	.	.	PUNCT
fsr-3842	121	78	.	.	PUNCT
fsr-3842	121	79	.	.	PUNCT
fsr-3842	121	80	.	.	PUNCT
fsr-3842	121	81	.	.	PUNCT
fsr-3842	121	82	.	.	PUNCT
fsr-3842	121	83	.	.	PUNCT
fsr-3842	121	84	.	.	PUNCT
fsr-3842	121	85	.	.	PUNCT
fsr-3842	121	86	.	.	PUNCT
fsr-3842	121	87	.	.	PUNCT
fsr-3842	121	88	.	.	PUNCT
fsr-3842	121	89	.	.	PUNCT
fsr-3842	121	90	.	.	PUNCT
fsr-3842	121	91	.	.	PUNCT
fsr-3842	121	92	.	.	PUNCT
fsr-3842	121	93	.	.	PUNCT
fsr-3842	121	94	.	.	PUNCT
fsr-3842	121	95	.	.	PUNCT
fsr-3842	121	96	.	.	PUNCT
fsr-3842	121	97	.	.	PUNCT
fsr-3842	121	98	.	.	PUNCT
fsr-3842	121	99	.	.	PUNCT
fsr-3842	121	100	.	.	PUNCT
fsr-3842	121	101	.	.	PUNCT
fsr-3842	121	102	.	.	PUNCT
fsr-3842	121	103	.	.	PUNCT
fsr-3842	121	104	.	.	PUNCT
fsr-3842	122	1	0.t	0.t	NUM
fsr-3842	122	2	.................................................	.................................................	PUNCT
fsr-3842	123	1	/	/	PUNCT
fsr-3842	123	2	;	;	PUNCT
fsr-3842	123	3	................	................	PUNCT
fsr-3842	123	4	~	~	PUNCT
fsr-3842	123	5	.	.	PUNCT
fsr-3842	123	6	~	~	PUNCT
fsr-3842	123	7	.	.	PUNCT
fsr-3842	124	1	~	~	PUNCT
fsr-3842	124	2	'	'	PUNCT
fsr-3842	124	3	~	~	PUNCT
fsr-3842	124	4	,	,	PUNCT
fsr-3842	124	5	~	~	PUNCT
fsr-3842	124	6	'	'	PUNCT
fsr-3842	124	7	,	,	PUNCT
fsr-3842	124	8	~	~	PUNCT
fsr-3842	124	9	,	,	PUNCT
fsr-3842	124	10	.	.	PUNCT
fsr-3842	124	11	.	.	PUNCT
fsr-3842	124	12	.	.	PUNCT
fsr-3842	124	13	.	.	PUNCT
fsr-3842	124	14	.	.	PUNCT
fsr-3842	124	15	.	.	PUNCT
fsr-3842	124	16	.	.	PUNCT
fsr-3842	124	17	.	.	PUNCT
fsr-3842	124	18	.	.	PUNCT
fsr-3842	124	19	.	.	PUNCT
fsr-3842	124	20	.	.	PUNCT
fsr-3842	124	21	.	.	PUNCT
fsr-3842	124	22	.	.	PUNCT
fsr-3842	124	23	.	.	PUNCT
fsr-3842	124	24	.	.	PUNCT
fsr-3842	124	25	.	.	PUNCT
fsr-3842	124	26	.	.	PUNCT
fsr-3842	124	27	.	.	PUNCT
fsr-3842	124	28	.	.	PUNCT
fsr-3842	124	29	.	.	PUNCT
fsr-3842	124	30	.	.	PUNCT
fsr-3842	124	31	.	.	PUNCT
fsr-3842	124	32	.	.	PUNCT
fsr-3842	125	1	:	:	PUNCT
fsr-3842	126	1	---	---	PUNCT
fsr-3842	127	1	*	*	PUNCT
fsr-3842	127	2	/	/	PUNCT
fsr-3842	127	3	n~	n~	NUM
fsr-3842	128	1	_	_	PRON
fsr-3842	128	2	4	4	NUM
fsr-3842	128	3	%	%	NOUN
fsr-3842	129	1	%	%	NOUN
fsr-3842	129	2	f	f	X
fsr-3842	129	3	~	~	PUNCT
fsr-3842	129	4	.	.	PUNCT
fsr-3842	129	5	.	.	PUNCT
fsr-3842	129	6	.	.	PUNCT
fsr-3842	129	7	.	.	PUNCT
fsr-3842	130	1	"	"	PUNCT
fsr-3842	130	2	,	,	PUNCT
fsr-3842	130	3	,	,	PUNCT
fsr-3842	130	4	,	,	PUNCT
fsr-3842	130	5	"	"	PUNCT
fsr-3842	130	6	"	"	PUNCT
fsr-3842	130	7	"	"	PUNCT
fsr-3842	130	8	~	~	PUNCT
fsr-3842	130	9	~	~	PUNCT
fsr-3842	130	10	.~	.~	NOUN
fsr-3842	130	11	.~.	.~.	SYM
fsr-3842	130	12	0	0	NUM
fsr-3842	130	13	1	1	NUM
fsr-3842	130	14	2	2	NUM
fsr-3842	130	15	3	3	NUM
fsr-3842	130	16	4	4	NUM
fsr-3842	130	17	5	5	NUM
fsr-3842	130	18	6	6	NUM
fsr-3842	130	19	7	7	NUM
fsr-3842	130	20	8	8	NUM
fsr-3842	130	21	'	'	NOUN
fsr-3842	130	22	.	.	PUNCT
fsr-3842	131	1	9	9	NUM
fsr-3842	131	2	10	10	NUM
fsr-3842	131	3	11	11	NUM
fsr-3842	131	4	12	12	NUM
fsr-3842	131	5	-0.05	-0.05	NUM
fsr-3842	131	6	:	:	PUNCT
fsr-3842	131	7	.	.	PUNCT
fsr-3842	131	8	.	.	PUNCT
fsr-3842	131	9	.	.	PUNCT
fsr-3842	131	10	.	.	PUNCT
fsr-3842	131	11	.	.	PUNCT
fsr-3842	131	12	.	.	PUNCT
fsr-3842	131	13	.	.	PUNCT
fsr-3842	131	14	.	.	PUNCT
fsr-3842	131	15	.	.	PUNCT
fsr-3842	131	16	.	.	PUNCT
fsr-3842	131	17	.	.	PUNCT
fsr-3842	131	18	.	.	PUNCT
fsr-3842	131	19	.	.	PUNCT
fsr-3842	131	20	.	.	PUNCT
fsr-3842	131	21	.	.	PUNCT
fsr-3842	131	22	.	.	PUNCT
fsr-3842	131	23	.	.	PUNCT
fsr-3842	131	24	.	.	PUNCT
fsr-3842	131	25	.	.	PUNCT
fsr-3842	131	26	.	.	PUNCT
fsr-3842	131	27	.	.	PUNCT
fsr-3842	131	28	.	.	PUNCT
fsr-3842	131	29	.	.	PUNCT
fsr-3842	131	30	.	.	PUNCT
fsr-3842	131	31	.	.	PUNCT
fsr-3842	131	32	.	.	PUNCT
fsr-3842	131	33	.	.	PUNCT
fsr-3842	131	34	.	.	PUNCT
fsr-3842	131	35	.	.	PUNCT
fsr-3842	131	36	.	.	PUNCT
fsr-3842	131	37	.	.	PUNCT
fsr-3842	131	38	.	.	PUNCT
fsr-3842	131	39	.	.	PUNCT
fsr-3842	131	40	.	.	PUNCT
fsr-3842	131	41	.	.	PUNCT
fsr-3842	131	42	.	.	PUNCT
fsr-3842	131	43	.	.	PUNCT
fsr-3842	131	44	.	.	PUNCT
fsr-3842	131	45	.	.	PUNCT
fsr-3842	131	46	.	.	PUNCT
fsr-3842	131	47	.	.	PUNCT
fsr-3842	131	48	.	.	PUNCT
fsr-3842	132	1	~	~	NOUN
fsr-3842	132	2	:	:	PUNCT
fsr-3842	132	3	.	.	PUNCT
fsr-3842	132	4	.	.	PUNCT
fsr-3842	132	5	.	.	PUNCT
fsr-3842	132	6	.	.	PUNCT
fsr-3842	132	7	.	.	PUNCT
fsr-3842	132	8	.	.	PUNCT
fsr-3842	132	9	.	.	PUNCT
fsr-3842	132	10	.	.	PUNCT
fsr-3842	132	11	.	.	PUNCT
fsr-3842	132	12	.	.	PUNCT
fsr-3842	132	13	.	.	PUNCT
fsr-3842	132	14	.	.	PUNCT
fsr-3842	132	15	.	.	PUNCT
fsr-3842	132	16	.	.	PUNCT
fsr-3842	132	17	.	.	PUNCT
fsr-3842	132	18	.	.	PUNCT
fsr-3842	132	19	.	.	PUNCT
fsr-3842	132	20	.	.	PUNCT
fsr-3842	132	21	.	.	PUNCT
fsr-3842	132	22	.	.	PUNCT
fsr-3842	132	23	.	.	PUNCT
fsr-3842	132	24	.	.	PUNCT
fsr-3842	132	25	.	.	PUNCT
fsr-3842	132	26	.	.	PUNCT
fsr-3842	132	27	.	.	PUNCT
fsr-3842	132	28	.	.	PUNCT
fsr-3842	132	29	.	.	PUNCT
fsr-3842	132	30	.	.	PUNCT
fsr-3842	132	31	.	.	PUNCT
fsr-3842	132	32	.	.	PUNCT
fsr-3842	132	33	.	.	PUNCT
fsr-3842	132	34	.	.	PUNCT
fsr-3842	132	35	.	.	PUNCT
fsr-3842	132	36	.	.	PUNCT
fsr-3842	132	37	.	.	PUNCT
fsr-3842	132	38	.	.	PUNCT
fsr-3842	132	39	.	.	PUNCT
fsr-3842	132	40	.	.	PUNCT
fsr-3842	132	41	.	.	PUNCT
fsr-3842	132	42	.	.	PUNCT
fsr-3842	132	43	.	.	PUNCT
fsr-3842	132	44	.	.	PUNCT
fsr-3842	133	1	-0,15	-0,15	PUNCT
fsr-3842	133	2	.........................................................................	.........................................................................	PUNCT
fsr-3842	134	1	:	:	PUNCT
fsr-3842	134	2	.~	.~	NOUN
fsr-3842	134	3	.............	.............	PUNCT
fsr-3842	135	1	-0.2	-0.2	INTJ
fsr-3842	135	2	.	.	PUNCT
fsr-3842	135	3	.	.	PUNCT
fsr-3842	135	4	.	.	PUNCT
fsr-3842	135	5	.	.	PUNCT
fsr-3842	135	6	.	.	PUNCT
fsr-3842	135	7	.	.	PUNCT
fsr-3842	135	8	.	.	PUNCT
fsr-3842	135	9	.	.	PUNCT
fsr-3842	135	10	.	.	PUNCT
fsr-3842	135	11	.	.	PUNCT
fsr-3842	135	12	.	.	PUNCT
fsr-3842	135	13	.	.	PUNCT
fsr-3842	135	14	.	.	PUNCT
fsr-3842	135	15	.	.	PUNCT
fsr-3842	135	16	.	.	PUNCT
fsr-3842	135	17	.	.	PUNCT
fsr-3842	135	18	.	.	PUNCT
fsr-3842	135	19	.	.	PUNCT
fsr-3842	135	20	.	.	PUNCT
fsr-3842	135	21	.	.	PUNCT
fsr-3842	135	22	.	.	PUNCT
fsr-3842	135	23	.	.	PUNCT
fsr-3842	135	24	.	.	PUNCT
fsr-3842	135	25	.	.	PUNCT
fsr-3842	135	26	.	.	PUNCT
fsr-3842	135	27	.	.	PUNCT
fsr-3842	135	28	.	.	PUNCT
fsr-3842	135	29	.	.	PUNCT
fsr-3842	135	30	.	.	PUNCT
fsr-3842	135	31	.	.	PUNCT
fsr-3842	135	32	.	.	PUNCT
fsr-3842	135	33	.	.	PUNCT
fsr-3842	135	34	.	.	PUNCT
fsr-3842	135	35	.	.	PUNCT
fsr-3842	135	36	.	.	PUNCT
fsr-3842	135	37	.	.	PUNCT
fsr-3842	135	38	.	.	PUNCT
fsr-3842	135	39	.	.	PUNCT
fsr-3842	135	40	.	.	PUNCT
fsr-3842	135	41	.	.	PUNCT
fsr-3842	135	42	.	.	PUNCT
fsr-3842	135	43	.	.	PUNCT
fsr-3842	135	44	.	.	PUNCT
fsr-3842	135	45	.	.	PUNCT
fsr-3842	135	46	.	.	PUNCT
fsr-3842	135	47	.	.	PUNCT
fsr-3842	135	48	.	.	PUNCT
fsr-3842	135	49	.	.	PUNCT
fsr-3842	135	50	.	.	PUNCT
fsr-3842	135	51	.	.	PUNCT
fsr-3842	135	52	.	.	PUNCT
fsr-3842	135	53	.	.	PUNCT
fsr-3842	135	54	.	.	PUNCT
fsr-3842	135	55	.	.	PUNCT
fsr-3842	135	56	.	.	PUNCT
fsr-3842	135	57	.	.	PUNCT
fsr-3842	135	58	.	.	PUNCT
fsr-3842	135	59	.	.	PUNCT
fsr-3842	135	60	.	.	PUNCT
fsr-3842	135	61	.	.	PUNCT
fsr-3842	135	62	.	.	PUNCT
fsr-3842	135	63	.	.	PUNCT
fsr-3842	135	64	.	.	PUNCT
fsr-3842	135	65	.	.	PUNCT
fsr-3842	135	66	.	.	PUNCT
fsr-3842	135	67	.	.	PUNCT
fsr-3842	135	68	.	.	PUNCT
fsr-3842	135	69	.	.	PUNCT
fsr-3842	135	70	.	.	PUNCT
fsr-3842	135	71	.	.	PUNCT
fsr-3842	135	72	.	.	PUNCT
fsr-3842	135	73	.	.	PUNCT
fsr-3842	135	74	.	.	PUNCT
fsr-3842	135	75	.	.	PUNCT
fsr-3842	135	76	.	.	PUNCT
fsr-3842	135	77	.	.	PUNCT
fsr-3842	135	78	.	.	PUNCT
fsr-3842	135	79	.	.	PUNCT
fsr-3842	135	80	.	.	PUNCT
fsr-3842	135	81	.	.	PUNCT
fsr-3842	135	82	.	.	PUNCT
fsr-3842	135	83	.	.	PUNCT
fsr-3842	135	84	.	.	PUNCT
fsr-3842	135	85	.	.	PUNCT
fsr-3842	135	86	.	.	PUNCT
fsr-3842	135	87	.	.	PUNCT
fsr-3842	135	88	.	.	PUNCT
fsr-3842	135	89	.	.	PUNCT
fsr-3842	135	90	.	.	PUNCT
fsr-3842	135	91	.	.	PUNCT
fsr-3842	135	92	.	.	PUNCT
fsr-3842	135	93	.	.	PUNCT
fsr-3842	135	94	.	.	PUNCT
fsr-3842	135	95	.	.	PUNCT
fsr-3842	135	96	.	.	PUNCT
fsr-3842	135	97	.	.	PUNCT
fsr-3842	135	98	.	.	PUNCT
fsr-3842	135	99	.	.	PUNCT
fsr-3842	135	100	.	.	PUNCT
fsr-3842	135	101	.	.	PUNCT
fsr-3842	135	102	.	.	PUNCT
fsr-3842	135	103	.	.	PUNCT
fsr-3842	135	104	.	.	PUNCT
fsr-3842	135	105	.	.	PUNCT
fsr-3842	135	106	.	.	PUNCT
fsr-3842	135	107	.	.	PUNCT
fsr-3842	135	108	.	.	PUNCT
fsr-3842	135	109	.	.	PUNCT
fsr-3842	135	110	.	.	PUNCT
fsr-3842	136	1	"	"	PUNCT
fsr-3842	136	2	~	~	PUNCT
fsr-3842	136	3	l	l	NOUN
fsr-3842	136	4	:	:	PUNCT
fsr-3842	136	5	.	.	PUNCT
fsr-3842	136	6	"	"	PUNCT
fsr-3842	136	7	"	"	PUNCT
fsr-3842	136	8	"	"	PUNCT
fsr-3842	136	9	"	"	PUNCT
fsr-3842	136	10	-0.25	-0.25	NUM
fsr-3842	136	11	figure	figure	NOUN
fsr-3842	136	12	1	1	NUM
fsr-3842	136	13	.	.	PUNCT
fsr-3842	137	1	calpers	calpers	PROPN
fsr-3842	137	2	targeting	target	VERB
fsr-3842	137	3	:	:	PUNCT
fsr-3842	137	4	excess	excess	ADJ
fsr-3842	137	5	returns	return	NOUN
fsr-3842	137	6	8	8	NUM
fsr-3842	137	7	financial	financial	ADJ
fsr-3842	137	8	services	service	NOUN
fsr-3842	137	9	review	review	VERB
fsr-3842	137	10	7(1	7(1	NUM
fsr-3842	137	11	)	)	PUNCT
fsr-3842	137	12	1998	1998	NUM
fsr-3842	137	13	some	some	DET
fsr-3842	137	14	short	short	ADJ
fsr-3842	137	15	run	run	NOUN
fsr-3842	137	16	impact	impact	NOUN
fsr-3842	137	17	,	,	PUNCT
fsr-3842	137	18	but	but	CCONJ
fsr-3842	137	19	there	there	PRON
fsr-3842	137	20	is	be	VERB
fsr-3842	137	21	no	no	DET
fsr-3842	137	22	lasting	last	VERB
fsr-3842	137	23	effect	effect	NOUN
fsr-3842	137	24	.	.	PUNCT
fsr-3842	138	1	there	there	PRON
fsr-3842	138	2	may	may	AUX
fsr-3842	138	3	,	,	PUNCT
fsr-3842	138	4	however	however	ADV
fsr-3842	138	5	,	,	PUNCT
fsr-3842	138	6	be	be	AUX
fsr-3842	138	7	differing	differ	VERB
fsr-3842	138	8	effects	effect	NOUN
fsr-3842	138	9	depending	depend	VERB
fsr-3842	138	10	on	on	ADP
fsr-3842	138	11	the	the	DET
fsr-3842	138	12	year	year	NOUN
fsr-3842	138	13	of	of	ADP
fsr-3842	138	14	the	the	DET
fsr-3842	138	15	targeting	targeting	NOUN
fsr-3842	138	16	.	.	PUNCT
fsr-3842	139	1	when	when	SCONJ
fsr-3842	139	2	the	the	DET
fsr-3842	139	3	whole	whole	ADJ
fsr-3842	139	4	sample	sample	NOUN
fsr-3842	139	5	is	be	AUX
fsr-3842	139	6	split	split	VERB
fsr-3842	139	7	into	into	ADP
fsr-3842	139	8	sub	sub	NOUN
fsr-3842	139	9	-	-	NOUN
fsr-3842	139	10	periods	period	NOUN
fsr-3842	139	11	,	,	PUNCT
fsr-3842	139	12	two	two	NUM
fsr-3842	139	13	distinct	distinct	ADJ
fsr-3842	139	14	patterns	pattern	NOUN
fsr-3842	139	15	appear	appear	VERB
fsr-3842	139	16	.	.	PUNCT
fsr-3842	140	1	for	for	ADP
fsr-3842	140	2	the	the	DET
fsr-3842	140	3	1992	1992	NUM
fsr-3842	140	4	-	-	SYM
fsr-3842	140	5	1994	1994	NUM
fsr-3842	140	6	period	period	NOUN
fsr-3842	140	7	,	,	PUNCT
fsr-3842	140	8	the	the	DET
fsr-3842	140	9	cumulative	cumulative	ADJ
fsr-3842	140	10	return	return	NOUN
fsr-3842	140	11	for	for	ADP
fsr-3842	140	12	the	the	DET
fsr-3842	140	13	targeted	target	VERB
fsr-3842	140	14	firms	firm	NOUN
fsr-3842	140	15	is	be	AUX
fsr-3842	140	16	positive	positive	ADJ
fsr-3842	140	17	and	and	CCONJ
fsr-3842	140	18	significant	significant	ADJ
fsr-3842	140	19	.	.	PUNCT
fsr-3842	141	1	after	after	ADP
fsr-3842	141	2	twelve	twelve	NUM
fsr-3842	141	3	months	month	NOUN
fsr-3842	141	4	the	the	DET
fsr-3842	141	5	average	average	ADJ
fsr-3842	141	6	return	return	NOUN
fsr-3842	141	7	is	be	AUX
fsr-3842	141	8	14.79	14.79	NUM
fsr-3842	141	9	%	%	NOUN
fsr-3842	141	10	greater	great	ADJ
fsr-3842	141	11	than	than	ADP
fsr-3842	141	12	that	that	PRON
fsr-3842	141	13	of	of	ADP
fsr-3842	141	14	the	the	DET
fsr-3842	141	15	s&p	s&p	PROPN
fsr-3842	141	16	which	which	PRON
fsr-3842	141	17	is	be	AUX
fsr-3842	141	18	sta	sta	NOUN
fsr-3842	141	19	tistically	tistically	ADV
fsr-3842	141	20	different	different	ADJ
fsr-3842	141	21	from	from	ADP
fsr-3842	141	22	zero	zero	NUM
fsr-3842	141	23	with	with	ADP
fsr-3842	141	24	95	95	NUM
fsr-3842	141	25	%	%	NOUN
fsr-3842	141	26	confidence	confidence	NOUN
fsr-3842	141	27	.	.	PUNCT
fsr-3842	142	1	for	for	ADP
fsr-3842	142	2	the	the	DET
fsr-3842	142	3	1995	1995	NUM
fsr-3842	142	4	-	-	SYM
fsr-3842	142	5	1997	1997	NUM
fsr-3842	142	6	period	period	NOUN
fsr-3842	142	7	,	,	PUNCT
fsr-3842	142	8	the	the	DET
fsr-3842	142	9	perfor	perfor	PROPN
fsr-3842	142	10	mance	mance	NOUN
fsr-3842	142	11	of	of	ADP
fsr-3842	142	12	the	the	DET
fsr-3842	142	13	targeted	target	VERB
fsr-3842	142	14	portfolio	portfolio	NOUN
fsr-3842	142	15	is	be	AUX
fsr-3842	142	16	only	only	ADV
fsr-3842	142	17	statistically	statistically	ADV
fsr-3842	142	18	above	above	ADP
fsr-3842	142	19	that	that	PRON
fsr-3842	142	20	of	of	ADP
fsr-3842	142	21	the	the	DET
fsr-3842	142	22	s&p	s&p	PROPN
fsr-3842	142	23	500	500	NUM
fsr-3842	142	24	index	index	NOUN
fsr-3842	142	25	through	through	ADP
fsr-3842	142	26	month	month	NOUN
fsr-3842	142	27	two	two	NUM
fsr-3842	142	28	,	,	PUNCT
fsr-3842	142	29	and	and	CCONJ
fsr-3842	142	30	by	by	ADP
fsr-3842	142	31	the	the	DET
fsr-3842	142	32	end	end	NOUN
fsr-3842	142	33	of	of	ADP
fsr-3842	142	34	12	12	NUM
fsr-3842	142	35	months	month	NOUN
fsr-3842	142	36	,	,	PUNCT
fsr-3842	142	37	the	the	DET
fsr-3842	142	38	performance	performance	NOUN
fsr-3842	142	39	on	on	ADP
fsr-3842	142	40	these	these	DET
fsr-3842	142	41	later	late	ADJ
fsr-3842	142	42	caipers	caiper	NOUN
fsr-3842	142	43	'	'	PART
fsr-3842	142	44	targets	target	NOUN
fsr-3842	142	45	is	be	AUX
fsr-3842	142	46	significantly	significantly	ADV
fsr-3842	142	47	below	below	ADP
fsr-3842	142	48	that	that	PRON
fsr-3842	142	49	of	of	ADP
fsr-3842	142	50	the	the	DET
fsr-3842	142	51	s&p	s&p	PROPN
fsr-3842	142	52	500	500	NUM
fsr-3842	142	53	index	index	NOUN
fsr-3842	142	54	by	by	ADP
fsr-3842	142	55	19.56	19.56	NUM
fsr-3842	142	56	%	%	NOUN
fsr-3842	142	57	.	.	PUNCT
fsr-3842	143	1	investors	investor	NOUN
fsr-3842	143	2	appear	appear	VERB
fsr-3842	143	3	to	to	PART
fsr-3842	143	4	find	find	VERB
fsr-3842	143	5	the	the	DET
fsr-3842	143	6	targeting	targeting	NOUN
fsr-3842	143	7	during	during	ADP
fsr-3842	143	8	this	this	DET
fsr-3842	143	9	period	period	NOUN
fsr-3842	143	10	to	to	PART
fsr-3842	143	11	be	be	AUX
fsr-3842	143	12	a	a	DET
fsr-3842	143	13	positive	positive	ADJ
fsr-3842	143	14	signal	signal	NOUN
fsr-3842	143	15	only	only	ADV
fsr-3842	143	16	in	in	ADP
fsr-3842	143	17	the	the	DET
fsr-3842	143	18	short	short	ADJ
fsr-3842	143	19	run	run	NOUN
fsr-3842	143	20	.	.	PUNCT
fsr-3842	144	1	to	to	PART
fsr-3842	144	2	determine	determine	VERB
fsr-3842	144	3	whether	whether	SCONJ
fsr-3842	144	4	the	the	DET
fsr-3842	144	5	difference	difference	NOUN
fsr-3842	144	6	in	in	ADP
fsr-3842	144	7	the	the	DET
fsr-3842	144	8	returns	return	NOUN
fsr-3842	144	9	between	between	ADP
fsr-3842	144	10	the	the	DET
fsr-3842	144	11	two	two	NUM
fsr-3842	144	12	sub	sub	NOUN
fsr-3842	144	13	-	-	ADJ
fsr-3842	144	14	periods	period	NOUN
fsr-3842	144	15	is	be	AUX
fsr-3842	144	16	due	due	ADJ
fsr-3842	144	17	to	to	ADP
fsr-3842	144	18	differences	difference	NOUN
fsr-3842	144	19	in	in	ADP
fsr-3842	144	20	the	the	DET
fsr-3842	144	21	firms	firm	NOUN
fsr-3842	144	22	'	'	PART
fsr-3842	144	23	responses	response	NOUN
fsr-3842	144	24	or	or	CCONJ
fsr-3842	144	25	differences	difference	NOUN
fsr-3842	144	26	in	in	ADP
fsr-3842	144	27	calpers	calper	NOUN
fsr-3842	144	28	's	's	PART
fsr-3842	144	29	strategy	strategy	NOUN
fsr-3842	144	30	,	,	PUNCT
fsr-3842	144	31	we	we	PRON
fsr-3842	144	32	regress	regress	VERB
fsr-3842	144	33	the	the	DET
fsr-3842	144	34	excess	excess	ADJ
fsr-3842	144	35	returns	return	NOUN
fsr-3842	144	36	on	on	ADP
fsr-3842	144	37	ownership	ownership	NOUN
fsr-3842	144	38	structure	structure	NOUN
fsr-3842	144	39	,	,	PUNCT
fsr-3842	144	40	firm	firm	ADJ
fsr-3842	144	41	size	size	NOUN
fsr-3842	144	42	,	,	PUNCT
fsr-3842	144	43	actions	action	NOUN
fsr-3842	144	44	taken	take	VERB
fsr-3842	144	45	following	follow	VERB
fsr-3842	144	46	caipers	caiper	NOUN
fsr-3842	144	47	target	target	VERB
fsr-3842	144	48	ing	ing	ADJ
fsr-3842	144	49	,	,	PUNCT
fsr-3842	144	50	and	and	CCONJ
fsr-3842	144	51	a	a	DET
fsr-3842	144	52	dummy	dummy	ADJ
fsr-3842	144	53	variable	variable	NOUN
fsr-3842	144	54	representing	represent	VERB
fsr-3842	144	55	the	the	DET
fsr-3842	144	56	time	time	NOUN
fsr-3842	144	57	period	period	NOUN
fsr-3842	144	58	in	in	ADP
fsr-3842	144	59	which	which	PRON
fsr-3842	144	60	the	the	DET
fsr-3842	144	61	firm	firm	NOUN
fsr-3842	144	62	was	be	AUX
fsr-3842	144	63	targeted	target	VERB
fsr-3842	144	64	(	(	PUNCT
fsr-3842	144	65	table	table	NOUN
fsr-3842	144	66	5	5	NUM
fsr-3842	144	67	)	)	PUNCT
fsr-3842	144	68	.	.	PUNCT
fsr-3842	145	1	the	the	DET
fsr-3842	145	2	only	only	ADJ
fsr-3842	145	3	variable	variable	NOUN
fsr-3842	145	4	found	find	VERB
fsr-3842	145	5	to	to	PART
fsr-3842	145	6	be	be	AUX
fsr-3842	145	7	significant	significant	ADJ
fsr-3842	145	8	is	be	AUX
fsr-3842	145	9	the	the	DET
fsr-3842	145	10	time	time	NOUN
fsr-3842	145	11	period	period	NOUN
fsr-3842	145	12	dummy	dummy	ADJ
fsr-3842	145	13	variable	variable	NOUN
fsr-3842	145	14	;	;	PUNCT
fsr-3842	145	15	firms	firm	NOUN
fsr-3842	145	16	which	which	PRON
fsr-3842	145	17	were	be	AUX
fsr-3842	145	18	targeted	target	VERB
fsr-3842	145	19	in	in	ADP
fsr-3842	145	20	the	the	DET
fsr-3842	145	21	later	later	ADJ
fsr-3842	145	22	period	period	NOUN
fsr-3842	145	23	had	have	VERB
fsr-3842	145	24	significantly	significantly	ADV
fsr-3842	145	25	lower	low	ADJ
fsr-3842	145	26	excess	excess	ADJ
fsr-3842	145	27	returns	return	NOUN
fsr-3842	145	28	than	than	ADP
fsr-3842	145	29	the	the	DET
fsr-3842	145	30	firms	firm	NOUN
fsr-3842	145	31	targeted	target	VERB
fsr-3842	145	32	in	in	ADP
fsr-3842	145	33	early	early	ADJ
fsr-3842	145	34	periods	period	NOUN
fsr-3842	145	35	.	.	PUNCT
fsr-3842	146	1	the	the	DET
fsr-3842	146	2	specific	specific	ADJ
fsr-3842	146	3	actions	action	NOUN
fsr-3842	146	4	taken	take	VERB
fsr-3842	146	5	by	by	ADP
fsr-3842	146	6	companies	company	NOUN
fsr-3842	146	7	in	in	ADP
fsr-3842	146	8	the	the	DET
fsr-3842	146	9	year	year	NOUN
fsr-3842	146	10	after	after	SCONJ
fsr-3842	146	11	the	the	DET
fsr-3842	146	12	target	target	NOUN
fsr-3842	146	13	do	do	AUX
fsr-3842	146	14	not	not	PART
fsr-3842	146	15	appear	appear	VERB
fsr-3842	146	16	to	to	PART
fsr-3842	146	17	have	have	VERB
fsr-3842	146	18	any	any	DET
fsr-3842	146	19	effect	effect	NOUN
fsr-3842	146	20	on	on	ADP
fsr-3842	146	21	returns	return	NOUN
fsr-3842	146	22	.	.	PUNCT
fsr-3842	147	1	a	a	DET
fsr-3842	147	2	possible	possible	ADJ
fsr-3842	147	3	explanation	explanation	NOUN
fsr-3842	147	4	is	be	AUX
fsr-3842	147	5	that	that	SCONJ
fsr-3842	147	6	different	different	ADJ
fsr-3842	147	7	actions	action	NOUN
fsr-3842	147	8	are	be	AUX
fsr-3842	147	9	needed	need	VERB
fsr-3842	147	10	in	in	ADP
fsr-3842	147	11	different	different	ADJ
fsr-3842	147	12	firms	firm	NOUN
fsr-3842	147	13	,	,	PUNCT
fsr-3842	147	14	so	so	SCONJ
fsr-3842	147	15	restructuring	restructuring	NOUN
fsr-3842	147	16	is	be	AUX
fsr-3842	147	17	not	not	PART
fsr-3842	147	18	superior	superior	ADJ
fsr-3842	147	19	to	to	PART
fsr-3842	147	20	cost	cost	NOUN
fsr-3842	147	21	cutting	cutting	NOUN
fsr-3842	147	22	;	;	PUNCT
fsr-3842	147	23	firms	firm	NOUN
fsr-3842	147	24	act	act	VERB
fsr-3842	147	25	in	in	ADP
fsr-3842	147	26	ways	way	NOUN
fsr-3842	147	27	to	to	PART
fsr-3842	147	28	enhance	enhance	VERB
fsr-3842	147	29	value	value	NOUN
fsr-3842	147	30	.	.	PUNCT
fsr-3842	148	1	the	the	DET
fsr-3842	148	2	difference	difference	NOUN
fsr-3842	148	3	between	between	ADP
fsr-3842	148	4	the	the	DET
fsr-3842	148	5	results	result	NOUN
fsr-3842	148	6	in	in	ADP
fsr-3842	148	7	the	the	DET
fsr-3842	148	8	two	two	NUM
fsr-3842	148	9	different	different	ADJ
fsr-3842	148	10	time	time	NOUN
fsr-3842	148	11	periods	period	NOUN
fsr-3842	148	12	was	be	AUX
fsr-3842	148	13	not	not	PART
fsr-3842	148	14	caused	cause	VERB
fsr-3842	148	15	by	by	ADP
fsr-3842	148	16	size	size	NOUN
fsr-3842	148	17	differentials	differential	NOUN
fsr-3842	148	18	in	in	ADP
fsr-3842	148	19	the	the	DET
fsr-3842	148	20	firms	firm	NOUN
fsr-3842	148	21	targeted	target	VERB
fsr-3842	148	22	,	,	PUNCT
fsr-3842	148	23	as	as	SCONJ
fsr-3842	148	24	size	size	NOUN
fsr-3842	148	25	does	do	AUX
fsr-3842	148	26	not	not	PART
fsr-3842	148	27	have	have	VERB
fsr-3842	148	28	a	a	DET
fsr-3842	148	29	significant	significant	ADJ
fsr-3842	148	30	effect	effect	NOUN
fsr-3842	148	31	on	on	ADP
fsr-3842	148	32	stock	stock	NOUN
fsr-3842	148	33	returns	return	NOUN
fsr-3842	148	34	.	.	PUNCT
fsr-3842	149	1	another	another	DET
fsr-3842	149	2	possible	possible	ADJ
fsr-3842	149	3	explanation	explanation	NOUN
fsr-3842	149	4	for	for	ADP
fsr-3842	149	5	the	the	DET
fsr-3842	149	6	significantly	significantly	ADV
fsr-3842	149	7	lower	low	ADJ
fsr-3842	149	8	excess	excess	ADJ
fsr-3842	149	9	returns	return	NOUN
fsr-3842	149	10	in	in	ADP
fsr-3842	149	11	the	the	DET
fsr-3842	149	12	later	later	ADJ
fsr-3842	149	13	time	time	NOUN
fsr-3842	149	14	period	period	NOUN
fsr-3842	149	15	is	be	AUX
fsr-3842	149	16	the	the	DET
fsr-3842	149	17	performance	performance	NOUN
fsr-3842	149	18	of	of	ADP
fsr-3842	149	19	the	the	DET
fsr-3842	149	20	overall	overall	ADJ
fsr-3842	149	21	stock	stock	NOUN
fsr-3842	149	22	market	market	NOUN
fsr-3842	149	23	.	.	PUNCT
fsr-3842	150	1	if	if	SCONJ
fsr-3842	150	2	target	target	NOUN
fsr-3842	150	3	firms	firm	NOUN
fsr-3842	150	4	have	have	VERB
fsr-3842	150	5	high	high	ADJ
fsr-3842	150	6	returns	return	NOUN
fsr-3842	150	7	,	,	PUNCT
fsr-3842	150	8	but	but	CCONJ
fsr-3842	150	9	the	the	DET
fsr-3842	150	10	s&p	s&p	PROPN
fsr-3842	150	11	500	500	NUM
fsr-3842	150	12	index	index	NOUN
fsr-3842	150	13	had	have	VERB
fsr-3842	150	14	extraordinary	extraordinary	ADJ
fsr-3842	150	15	returns	return	NOUN
fsr-3842	150	16	,	,	PUNCT
fsr-3842	150	17	this	this	PRON
fsr-3842	150	18	would	would	AUX
fsr-3842	150	19	be	be	AUX
fsr-3842	150	20	shown	show	VERB
fsr-3842	150	21	as	as	ADP
fsr-3842	150	22	a	a	DET
fsr-3842	150	23	negative	negative	ADJ
fsr-3842	150	24	excess	excess	ADJ
fsr-3842	150	25	return	return	NOUN
fsr-3842	150	26	.	.	PUNCT
fsr-3842	151	1	however	however	ADV
fsr-3842	151	2	this	this	PRON
fsr-3842	151	3	is	be	AUX
fsr-3842	151	4	not	not	PART
fsr-3842	151	5	the	the	DET
fsr-3842	151	6	case	case	NOUN
fsr-3842	151	7	.	.	PUNCT
fsr-3842	152	1	we	we	PRON
fsr-3842	152	2	examine	examine	VERB
fsr-3842	152	3	the	the	DET
fsr-3842	152	4	overall	overall	ADJ
fsr-3842	152	5	raw	raw	ADJ
fsr-3842	152	6	returns	return	NOUN
fsr-3842	152	7	for	for	ADP
fsr-3842	152	8	the	the	DET
fsr-3842	152	9	targeted	target	VERB
fsr-3842	152	10	table	table	NOUN
fsr-3842	152	11	5	5	NUM
fsr-3842	152	12	cross	cross	ADJ
fsr-3842	152	13	-	-	ADJ
fsr-3842	152	14	sectional	sectional	ADJ
fsr-3842	152	15	regression	regression	NOUN
fsr-3842	152	16	estimates	estimate	NOUN
fsr-3842	152	17	of	of	ADP
fsr-3842	152	18	the	the	DET
fsr-3842	152	19	twelve	twelve	NUM
fsr-3842	152	20	-	-	PUNCT
fsr-3842	152	21	month	month	NOUN
fsr-3842	152	22	cumulative	cumulative	ADJ
fsr-3842	152	23	excess	excess	ADJ
fsr-3842	152	24	returns	return	NOUN
fsr-3842	152	25	on	on	ADP
fsr-3842	152	26	various	various	ADJ
fsr-3842	152	27	independent	independent	ADJ
fsr-3842	152	28	variables	variable	NOUN
fsr-3842	152	29	a	a	DET
fsr-3842	152	30	(	(	PUNCT
fsr-3842	152	31	test	test	NOUN
fsr-3842	152	32	-	-	PUNCT
fsr-3842	152	33	statistics	statistic	NOUN
fsr-3842	152	34	are	be	AUX
fsr-3842	152	35	in	in	ADP
fsr-3842	152	36	parentheses	parenthesis	NOUN
fsr-3842	152	37	)	)	PUNCT
fsr-3842	152	38	intercept	intercept	NOUN
fsr-3842	152	39	insider	insider	NOUN
fsr-3842	152	40	inst	inst	NOUN
fsr-3842	152	41	five	five	NUM
fsr-3842	152	42	cost	cost	NOUN
fsr-3842	152	43	restruct	restruct	NOUN
fsr-3842	152	44	size	size	NOUN
fsr-3842	152	45	time	time	NOUN
fsr-3842	152	46	parameter	parameter	NOUN
fsr-3842	152	47	0.31	0.31	NUM
fsr-3842	152	48	0	0	NUM
fsr-3842	152	49	.	.	PUNCT
fsr-3842	153	1	7	7	NUM
fsr-3842	154	1	6	6	NUM
fsr-3842	154	2	0.03	0.03	NUM
fsr-3842	154	3	0.58	0.58	NUM
fsr-3842	154	4	0.19	0.19	NUM
fsr-3842	154	5	0	0	NUM
fsr-3842	154	6	.	.	PUNCT
fsr-3842	155	1	1	1	NUM
fsr-3842	155	2	9	9	NUM
fsr-3842	155	3	0	0	NUM
fsr-3842	155	4	.	.	PUNCT
fsr-3842	156	1	3	3	NUM
fsr-3842	156	2	6	6	NUM
fsr-3842	156	3	-0.38	-0.38	NOUN
fsr-3842	156	4	*	*	PUNCT
fsr-3842	156	5	*	*	PUNCT
fsr-3842	156	6	*	*	ADJ
fsr-3842	156	7	estimate	estimate	NOUN
fsr-3842	156	8	(	(	PUNCT
fsr-3842	156	9	0.85	0.85	NUM
fsr-3842	156	10	)	)	PUNCT
fsr-3842	156	11	(	(	PUNCT
fsr-3842	156	12	-1	-1	X
fsr-3842	156	13	.13	.13	NUM
fsr-3842	156	14	)	)	PUNCT
fsr-3842	156	15	(	(	PUNCT
fsr-3842	156	16	0.10	0.10	NUM
fsr-3842	156	17	)	)	PUNCT
fsr-3842	156	18	(	(	PUNCT
fsr-3842	156	19	1.52	1.52	NUM
fsr-3842	156	20	)	)	PUNCT
fsr-3842	156	21	(	(	PUNCT
fsr-3842	156	22	0.93	0.93	NUM
fsr-3842	156	23	)	)	PUNCT
fsr-3842	156	24	(	(	PUNCT
fsr-3842	156	25	-1	-1	INTJ
fsr-3842	156	26	.43	.43	NUM
fsr-3842	156	27	)	)	PUNCT
fsr-3842	156	28	(	(	PUNCT
fsr-3842	156	29	-0	-0	X
fsr-3842	156	30	.78	.78	NUM
fsr-3842	156	31	)	)	PUNCT
fsr-3842	156	32	(	(	PUNCT
fsr-3842	156	33	-3	-3	X
fsr-3842	156	34	.45	.45	NUM
fsr-3842	156	35	)	)	PUNCT
fsr-3842	156	36	adjusted	adjust	VERB
fsr-3842	156	37	r	r	NOUN
fsr-3842	156	38	2	2	NUM
fsr-3842	156	39	21	21	NUM
fsr-3842	156	40	.16	.16	NUM
fsr-3842	156	41	%	%	NOUN
fsr-3842	156	42	f	f	PROPN
fsr-3842	156	43	value	value	NOUN
fsr-3842	156	44	2.76	2.76	NUM
fsr-3842	156	45	*	*	NOUN
fsr-3842	156	46	*	*	NOUN
fsr-3842	156	47	notes	note	NOUN
fsr-3842	156	48	:	:	PUNCT
fsr-3842	156	49	atbe	atbe	VERB
fsr-3842	156	50	cumulative	cumulative	ADJ
fsr-3842	156	51	excess	excess	ADJ
fsr-3842	156	52	return	return	NOUN
fsr-3842	156	53	is	be	AUX
fsr-3842	156	54	calculated	calculate	VERB
fsr-3842	156	55	as	as	ADP
fsr-3842	156	56	the	the	DET
fsr-3842	156	57	mean	mean	ADJ
fsr-3842	156	58	difference	difference	NOUN
fsr-3842	156	59	between	between	ADP
fsr-3842	156	60	the	the	DET
fsr-3842	156	61	return	return	NOUN
fsr-3842	156	62	for	for	ADP
fsr-3842	156	63	the	the	DET
fsr-3842	156	64	calpers	calpers	PROPN
fsr-3842	156	65	targets	target	NOUN
fsr-3842	156	66	minus	minus	ADP
fsr-3842	156	67	the	the	DET
fsr-3842	156	68	return	return	NOUN
fsr-3842	156	69	for	for	ADP
fsr-3842	156	70	the	the	DET
fsr-3842	156	71	standard	standard	PROPN
fsr-3842	156	72	&	&	CCONJ
fsr-3842	156	73	poors	poors	PROPN
fsr-3842	156	74	500	500	NUM
fsr-3842	156	75	index	index	NOUN
fsr-3842	156	76	.	.	PUNCT
fsr-3842	157	1	bth¢	bth¢	PROPN
fsr-3842	157	2	variable	variable	ADJ
fsr-3842	157	3	insider	insider	NOUN
fsr-3842	157	4	represents	represent	VERB
fsr-3842	157	5	the	the	DET
fsr-3842	157	6	percentage	percentage	NOUN
fsr-3842	157	7	of	of	ADP
fsr-3842	157	8	stock	stock	NOUN
fsr-3842	157	9	held	hold	VERB
fsr-3842	157	10	by	by	ADP
fsr-3842	157	11	insiders	insider	NOUN
fsr-3842	157	12	in	in	ADP
fsr-3842	157	13	the	the	DET
fsr-3842	157	14	firm	firm	NOUN
fsr-3842	157	15	as	as	SCONJ
fsr-3842	157	16	reported	report	VERB
fsr-3842	157	17	by	by	ADP
fsr-3842	157	18	disclosure	disclosure	NOUN
fsr-3842	157	19	;	;	PUNCT
fsr-3842	157	20	inst	inst	NOUN
fsr-3842	157	21	represents	represent	VERB
fsr-3842	157	22	the	the	DET
fsr-3842	157	23	percentage	percentage	NOUN
fsr-3842	157	24	of	of	ADP
fsr-3842	157	25	stock	stock	NOUN
fsr-3842	157	26	held	hold	VERB
fsr-3842	157	27	by	by	ADP
fsr-3842	157	28	institutional	institutional	ADJ
fsr-3842	157	29	investors	investor	NOUN
fsr-3842	157	30	as	as	SCONJ
fsr-3842	157	31	reported	report	VERB
fsr-3842	157	32	by	by	ADP
fsr-3842	157	33	disclosure	disclosure	NOUN
fsr-3842	157	34	;	;	PUNCT
fsr-3842	157	35	five	five	NUM
fsr-3842	157	36	represents	represent	VERB
fsr-3842	157	37	the	the	DET
fsr-3842	157	38	per	per	ADJ
fsr-3842	157	39	centage	centage	NOUN
fsr-3842	157	40	of	of	ADP
fsr-3842	157	41	stock	stock	NOUN
fsr-3842	157	42	held	hold	VERB
fsr-3842	157	43	by	by	ADP
fsr-3842	157	44	five	five	NUM
fsr-3842	157	45	percent	percent	NOUN
fsr-3842	157	46	owners	owner	NOUN
fsr-3842	157	47	as	as	SCONJ
fsr-3842	157	48	reported	report	VERB
fsr-3842	157	49	by	by	ADP
fsr-3842	157	50	disclosure	disclosure	NOUN
fsr-3842	157	51	;	;	PUNCT
fsr-3842	157	52	cost	cost	NOUN
fsr-3842	157	53	is	be	AUX
fsr-3842	157	54	a	a	DET
fsr-3842	157	55	dummy	dummy	ADJ
fsr-3842	157	56	variable	variable	NOUN
fsr-3842	157	57	representing	represent	VERB
fsr-3842	157	58	1	1	NUM
fsr-3842	157	59	if	if	SCONJ
fsr-3842	157	60	the	the	DET
fsr-3842	157	61	fu'm	fu'm	NOUN
fsr-3842	157	62	has	have	AUX
fsr-3842	157	63	announced	announce	VERB
fsr-3842	157	64	a	a	DET
fsr-3842	157	65	cost	cost	NOUN
fsr-3842	157	66	-	-	PUNCT
fsr-3842	157	67	cutting	cut	VERB
fsr-3842	157	68	measure	measure	NOUN
fsr-3842	157	69	in	in	ADP
fsr-3842	157	70	the	the	DET
fsr-3842	157	71	wall	wall	PROPN
fsr-3842	157	72	street	street	PROPN
fsr-3842	157	73	journal	journal	PROPN
fsr-3842	157	74	during	during	ADP
fsr-3842	157	75	the	the	DET
fsr-3842	157	76	year	year	NOUN
fsr-3842	157	77	following	follow	VERB
fsr-3842	157	78	the	the	DET
fsr-3842	157	79	target	target	NOUN
fsr-3842	157	80	announcement	announcement	NOUN
fsr-3842	157	81	and	and	CCONJ
fsr-3842	157	82	0	0	NUM
fsr-3842	157	83	if	if	SCONJ
fsr-3842	157	84	not	not	PART
fsr-3842	157	85	;	;	PUNCT
fsr-3842	157	86	restruct	restruct	NOUN
fsr-3842	157	87	is	be	AUX
fsr-3842	157	88	a	a	DET
fsr-3842	157	89	dummy	dummy	ADJ
fsr-3842	157	90	variable	variable	NOUN
fsr-3842	157	91	representing	represent	VERB
fsr-3842	157	92	i	i	PRON
fsr-3842	157	93	if	if	SCONJ
fsr-3842	157	94	the	the	DET
fsr-3842	157	95	firm	firm	NOUN
fsr-3842	157	96	has	have	AUX
fsr-3842	157	97	announced	announce	VERB
fsr-3842	157	98	a	a	DET
fsr-3842	157	99	restructuring	restructure	VERB
fsr-3842	157	100	measure	measure	NOUN
fsr-3842	157	101	in	in	ADP
fsr-3842	157	102	the	the	DET
fsr-3842	157	103	wall	wall	PROPN
fsr-3842	157	104	street	street	PROPN
fsr-3842	157	105	journal	journal	PROPN
fsr-3842	157	106	during	during	ADP
fsr-3842	157	107	the	the	DET
fsr-3842	157	108	year	year	NOUN
fsr-3842	157	109	following	follow	VERB
fsr-3842	157	110	the	the	DET
fsr-3842	157	111	target	target	NOUN
fsr-3842	157	112	announcement	announcement	NOUN
fsr-3842	157	113	and	and	CCONJ
fsr-3842	157	114	0	0	NUM
fsr-3842	157	115	if	if	SCONJ
fsr-3842	157	116	not	not	PART
fsr-3842	157	117	;	;	PUNCT
fsr-3842	157	118	size	size	NOUN
fsr-3842	157	119	in	in	ADP
fsr-3842	157	120	the	the	DET
fsr-3842	157	121	natural	natural	ADJ
fsr-3842	157	122	log	log	NOUN
fsr-3842	157	123	of	of	ADP
fsr-3842	157	124	the	the	DET
fsr-3842	157	125	stock	stock	NOUN
fsr-3842	157	126	price	price	NOUN
fsr-3842	157	127	of	of	ADP
fsr-3842	157	128	the	the	DET
fsr-3842	157	129	firm	firm	NOUN
fsr-3842	157	130	multiplied	multiply	VERB
fsr-3842	157	131	by	by	ADP
fsr-3842	157	132	the	the	DET
fsr-3842	157	133	number	number	NOUN
fsr-3842	157	134	of	of	ADP
fsr-3842	157	135	shares	share	NOUN
fsr-3842	157	136	outstanding	outstanding	ADJ
fsr-3842	157	137	,	,	PUNCT
fsr-3842	157	138	and	and	CCONJ
fsr-3842	157	139	time	time	NOUN
fsr-3842	157	140	is	be	AUX
fsr-3842	157	141	a	a	DET
fsr-3842	157	142	dummy	dummy	ADJ
fsr-3842	157	143	variable	variable	NOUN
fsr-3842	157	144	rep	rep	NOUN
fsr-3842	157	145	resenting	resent	VERB
fsr-3842	157	146	1	1	NUM
fsr-3842	157	147	if	if	SCONJ
fsr-3842	157	148	the	the	DET
fsr-3842	157	149	firm	firm	NOUN
fsr-3842	157	150	was	be	AUX
fsr-3842	157	151	targeted	target	VERB
fsr-3842	157	152	in	in	ADP
fsr-3842	157	153	the	the	DET
fsr-3842	157	154	1992	1992	NUM
fsr-3842	157	155	-	-	SYM
fsr-3842	157	156	1994	1994	NUM
fsr-3842	157	157	time	time	NOUN
fsr-3842	157	158	period	period	NOUN
fsr-3842	157	159	and	and	CCONJ
fsr-3842	157	160	0	0	NUM
fsr-3842	157	161	if	if	SCONJ
fsr-3842	157	162	not	not	PART
fsr-3842	157	163	.	.	PUNCT
fsr-3842	158	1	*	*	PUNCT
fsr-3842	158	2	*	*	PUNCT
fsr-3842	158	3	*	*	PUNCT
fsr-3842	158	4	the	the	DET
fsr-3842	158	5	coefficient	coefficient	NOUN
fsr-3842	158	6	is	be	AUX
fsr-3842	158	7	significantly	significantly	ADV
fsr-3842	158	8	different	different	ADJ
fsr-3842	158	9	from	from	ADP
fsr-3842	158	10	zero	zero	NUM
fsr-3842	158	11	at	at	ADP
fsr-3842	158	12	the	the	DET
fsr-3842	158	13	0.01	0.01	NUM
fsr-3842	158	14	level	level	NOUN
fsr-3842	158	15	.	.	PUNCT
fsr-3842	159	1	*	*	PUNCT
fsr-3842	159	2	*	*	PUNCT
fsr-3842	159	3	the	the	DET
fsr-3842	159	4	coefficient	coefficient	NOUN
fsr-3842	159	5	is	be	AUX
fsr-3842	159	6	significantly	significantly	ADV
fsr-3842	159	7	different	different	ADJ
fsr-3842	159	8	from	from	ADP
fsr-3842	159	9	zero	zero	NUM
fsr-3842	159	10	at	at	ADP
fsr-3842	159	11	the	the	DET
fsr-3842	159	12	0.05	0.05	NUM
fsr-3842	159	13	level	level	NOUN
fsr-3842	159	14	.	.	PUNCT
fsr-3842	160	1	shareholder	shareholder	NOUN
fsr-3842	160	2	wealth	wealth	NOUN
fsr-3842	160	3	effects	effect	NOUN
fsr-3842	160	4	9	9	NUM
fsr-3842	160	5	0.25	0.25	NUM
fsr-3842	160	6	e	e	NOUN
fsr-3842	160	7	|	|	ADV
fsr-3842	160	8	.	.	PUNCT
fsr-3842	160	9	!	!	PUNCT
fsr-3842	160	10	z=	z=	PUNCT
fsr-3842	161	1	=	=	PUNCT
fsr-3842	161	2	e	e	NOUN
fsr-3842	161	3	o	o	NOUN
fsr-3842	161	4	0.2	0.2	NUM
fsr-3842	161	5	0.15	0.15	NUM
fsr-3842	161	6	0.1	0.1	NUM
fsr-3842	161	7	¸	¸	X
fsr-3842	161	8	0.05	0.05	NUM
fsr-3842	161	9	-o.os	-o.os	PROPN
fsr-3842	161	10	figure	figure	NOUN
fsr-3842	161	11	2	2	NUM
fsr-3842	161	12	.	.	NOUN
fsr-3842	161	13	months	month	NOUN
fsr-3842	161	14	after	after	ADP
fsr-3842	161	15	targeting	target	VERB
fsr-3842	161	16	r	r	NOUN
fsr-3842	161	17	loosl	loosl	NOUN
fsr-3842	161	18	~	~	ADP
fsr-3842	161	19	o7	o7	PROPN
fsr-3842	161	20	talced	talc	VERB
fsr-3842	161	21	firms	firm	NOUN
fsr-3842	161	22	s	s	PART
fsr-3842	161	23	&	&	CCONJ
fsr-3842	161	24	p	p	NOUN
fsr-3842	161	25	5oo	5oo	NOUN
fsr-3842	161	26	[	[	PUNCT
fsr-3842	161	27	calpers	calper	NOUN
fsr-3842	161	28	targeting	target	VERB
fsr-3842	161	29	1995	1995	NUM
fsr-3842	161	30	-	-	SYM
fsr-3842	161	31	1997	1997	NUM
fsr-3842	161	32	:	:	PUNCT
fsr-3842	161	33	raw	raw	ADJ
fsr-3842	161	34	returns	return	NOUN
fsr-3842	161	35	vs.	vs.	ADP
fsr-3842	161	36	s&p	s&p	PROPN
fsr-3842	161	37	firms	firm	NOUN
fsr-3842	161	38	and	and	CCONJ
fsr-3842	161	39	the	the	DET
fsr-3842	161	40	s&p	s&p	PROPN
fsr-3842	161	41	500	500	NUM
fsr-3842	161	42	index	index	NOUN
fsr-3842	161	43	in	in	ADP
fsr-3842	161	44	the	the	DET
fsr-3842	161	45	later	later	ADJ
fsr-3842	161	46	time	time	NOUN
fsr-3842	161	47	period	period	NOUN
fsr-3842	161	48	(	(	PUNCT
fsr-3842	161	49	figure	figure	NOUN
fsr-3842	161	50	2	2	NUM
fsr-3842	161	51	)	)	PUNCT
fsr-3842	161	52	.	.	PUNCT
fsr-3842	162	1	while	while	SCONJ
fsr-3842	162	2	the	the	DET
fsr-3842	162	3	s&p	s&p	PROPN
fsr-3842	162	4	500	500	NUM
fsr-3842	162	5	index	index	NOUN
fsr-3842	162	6	was	be	AUX
fsr-3842	162	7	doing	do	VERB
fsr-3842	162	8	very	very	ADV
fsr-3842	162	9	well	well	ADV
fsr-3842	162	10	,	,	PUNCT
fsr-3842	162	11	the	the	DET
fsr-3842	162	12	average	average	ADJ
fsr-3842	162	13	target	target	NOUN
fsr-3842	162	14	earned	earn	VERB
fsr-3842	162	15	a	a	DET
fsr-3842	162	16	higher	high	ADJ
fsr-3842	162	17	return	return	NOUN
fsr-3842	162	18	through	through	ADP
fsr-3842	162	19	eight	eight	NUM
fsr-3842	162	20	months	month	NOUN
fsr-3842	162	21	follow	follow	VERB
fsr-3842	162	22	ing	e	VERB
fsr-3842	162	23	the	the	DET
fsr-3842	162	24	target	target	NOUN
fsr-3842	162	25	.	.	PUNCT
fsr-3842	163	1	in	in	ADP
fsr-3842	163	2	the	the	DET
fsr-3842	163	3	last	last	ADJ
fsr-3842	163	4	four	four	NUM
fsr-3842	163	5	months	month	NOUN
fsr-3842	163	6	of	of	ADP
fsr-3842	163	7	the	the	DET
fsr-3842	163	8	year	year	NOUN
fsr-3842	163	9	,	,	PUNCT
fsr-3842	163	10	all	all	DET
fsr-3842	163	11	gains	gain	NOUN
fsr-3842	163	12	to	to	ADP
fsr-3842	163	13	the	the	DET
fsr-3842	163	14	target	target	NOUN
fsr-3842	163	15	f'maas	f'maas	PROPN
fsr-3842	163	16	were	be	AUX
fsr-3842	163	17	erased	erase	VERB
fsr-3842	163	18	.	.	PUNCT
fsr-3842	164	1	v.	v.	ADP
fsr-3842	164	2	summary	summary	NOUN
fsr-3842	164	3	and	and	CCONJ
fsr-3842	164	4	conclusion	conclusion	NOUN
fsr-3842	164	5	this	this	DET
fsr-3842	164	6	paper	paper	NOUN
fsr-3842	164	7	examines	examine	VERB
fsr-3842	164	8	whether	whether	SCONJ
fsr-3842	164	9	investors	investor	NOUN
fsr-3842	164	10	can	can	AUX
fsr-3842	164	11	earn	earn	VERB
fsr-3842	164	12	returns	return	NOUN
fsr-3842	164	13	higher	high	ADJ
fsr-3842	164	14	than	than	ADP
fsr-3842	164	15	a	a	DET
fsr-3842	164	16	market	market	NOUN
fsr-3842	164	17	index	index	NOUN
fsr-3842	164	18	by	by	ADP
fsr-3842	164	19	pur	pur	NOUN
fsr-3842	164	20	chasing	chase	VERB
fsr-3842	164	21	a	a	DET
fsr-3842	164	22	portfolio	portfolio	NOUN
fsr-3842	164	23	of	of	ADP
fsr-3842	164	24	t	t	PROPN
fsr-3842	164	25	-	-	PUNCT
fsr-3842	164	26	n	n	CCONJ
fsr-3842	164	27	-	-	PUNCT
fsr-3842	164	28	ms	ms	NOUN
fsr-3842	164	29	after	after	ADP
fsr-3842	164	30	the	the	DET
fsr-3842	164	31	announcement	announcement	NOUN
fsr-3842	164	32	that	that	SCONJ
fsr-3842	164	33	calpers	calpers	PROPN
fsr-3842	164	34	has	have	AUX
fsr-3842	164	35	targeted	target	VERB
fsr-3842	164	36	these	these	DET
fsr-3842	164	37	firms	firm	NOUN
fsr-3842	164	38	.	.	PUNCT
fsr-3842	165	1	the	the	DET
fsr-3842	165	2	evidence	evidence	NOUN
fsr-3842	165	3	from	from	ADP
fsr-3842	165	4	this	this	DET
fsr-3842	165	5	study	study	NOUN
fsr-3842	165	6	indicates	indicate	VERB
fsr-3842	165	7	that	that	SCONJ
fsr-3842	165	8	the	the	DET
fsr-3842	165	9	returns	return	NOUN
fsr-3842	165	10	earned	earn	VERB
fsr-3842	165	11	depend	depend	VERB
fsr-3842	165	12	upon	upon	SCONJ
fsr-3842	165	13	the	the	DET
fsr-3842	165	14	era	era	NOUN
fsr-3842	165	15	of	of	ADP
fsr-3842	165	16	cal	cal	ADJ
fsr-3842	165	17	pers	per	NOUN
fsr-3842	165	18	'	'	PART
fsr-3842	165	19	activism	activism	NOUN
fsr-3842	165	20	.	.	PUNCT
fsr-3842	166	1	an	an	DET
fsr-3842	166	2	investor	investor	NOUN
fsr-3842	166	3	following	follow	VERB
fsr-3842	166	4	the	the	DET
fsr-3842	166	5	strategy	strategy	NOUN
fsr-3842	166	6	of	of	ADP
fsr-3842	166	7	buying	buy	VERB
fsr-3842	166	8	the	the	DET
fsr-3842	166	9	portfolio	portfolio	NOUN
fsr-3842	166	10	of	of	ADP
fsr-3842	166	11	first	first	ADJ
fsr-3842	166	12	time	time	NOUN
fsr-3842	166	13	tar	tar	NOUN
fsr-3842	166	14	gets	get	VERB
fsr-3842	166	15	and	and	CCONJ
fsr-3842	166	16	holding	hold	VERB
fsr-3842	166	17	these	these	DET
fsr-3842	166	18	stocks	stock	NOUN
fsr-3842	166	19	for	for	ADP
fsr-3842	166	20	a	a	DET
fsr-3842	166	21	year	year	NOUN
fsr-3842	166	22	would	would	AUX
fsr-3842	166	23	have	have	AUX
fsr-3842	166	24	earned	earn	VERB
fsr-3842	166	25	high	high	ADJ
fsr-3842	166	26	returns	return	NOUN
fsr-3842	166	27	in	in	ADP
fsr-3842	166	28	the	the	DET
fsr-3842	166	29	1992	1992	NUM
fsr-3842	166	30	-	-	SYM
fsr-3842	166	31	1994	1994	NUM
fsr-3842	166	32	time	time	NOUN
fsr-3842	166	33	period	period	NOUN
fsr-3842	166	34	.	.	PUNCT
fsr-3842	167	1	however	however	ADV
fsr-3842	167	2	,	,	PUNCT
fsr-3842	167	3	an	an	DET
fsr-3842	167	4	investor	investor	NOUN
fsr-3842	167	5	continuing	continue	VERB
fsr-3842	167	6	this	this	DET
fsr-3842	167	7	strategy	strategy	NOUN
fsr-3842	167	8	in	in	ADP
fsr-3842	167	9	1995	1995	NUM
fsr-3842	167	10	-	-	SYM
fsr-3842	167	11	1997	1997	NUM
fsr-3842	167	12	would	would	AUX
fsr-3842	167	13	have	have	AUX
fsr-3842	167	14	earned	earn	VERB
fsr-3842	167	15	much	much	ADV
fsr-3842	167	16	less	less	ADJ
fsr-3842	167	17	than	than	ADP
fsr-3842	167	18	the	the	DET
fsr-3842	167	19	s&p	s&p	PROPN
fsr-3842	167	20	500	500	NUM
fsr-3842	167	21	after	after	ADP
fsr-3842	167	22	controlling	control	VERB
fsr-3842	167	23	for	for	ADP
fsr-3842	167	24	firm	firm	ADJ
fsr-3842	167	25	size	size	NOUN
fsr-3842	167	26	,	,	PUNCT
fsr-3842	167	27	ownership	ownership	NOUN
fsr-3842	167	28	structure	structure	NOUN
fsr-3842	167	29	,	,	PUNCT
fsr-3842	167	30	and	and	CCONJ
fsr-3842	167	31	the	the	DET
fsr-3842	167	32	types	type	NOUN
fsr-3842	167	33	of	of	ADP
fsr-3842	167	34	managerial	managerial	ADJ
fsr-3842	167	35	actions	action	NOUN
fsr-3842	167	36	taken	take	VERB
fsr-3842	167	37	.	.	PUNCT
fsr-3842	168	1	this	this	DET
fsr-3842	168	2	later	later	ADJ
fsr-3842	168	3	time	time	NOUN
fsr-3842	168	4	period	period	NOUN
fsr-3842	168	5	coincides	coincide	VERB
fsr-3842	168	6	with	with	ADP
fsr-3842	168	7	the	the	DET
fsr-3842	168	8	era	era	NOUN
fsr-3842	168	9	of	of	ADP
fsr-3842	168	10	less	less	ADV
fsr-3842	168	11	visible	visible	ADJ
fsr-3842	168	12	activism	activism	NOUN
fsr-3842	168	13	.	.	PUNCT
fsr-3842	169	1	a	a	DET
fsr-3842	169	2	related	related	ADJ
fsr-3842	169	3	question	question	NOUN
fsr-3842	169	4	is	be	AUX
fsr-3842	169	5	whether	whether	SCONJ
fsr-3842	169	6	pension	pension	NOUN
fsr-3842	169	7	fund	fund	NOUN
fsr-3842	169	8	investors	investor	NOUN
fsr-3842	169	9	benefit	benefit	VERB
fsr-3842	169	10	when	when	SCONJ
fsr-3842	169	11	managers	manager	NOUN
fsr-3842	169	12	are	be	AUX
fsr-3842	169	13	active	active	ADJ
fsr-3842	169	14	monitors	monitor	NOUN
fsr-3842	169	15	of	of	ADP
fsr-3842	169	16	firms	firm	NOUN
fsr-3842	169	17	in	in	ADP
fsr-3842	169	18	their	their	PRON
fsr-3842	169	19	portfolio	portfolio	NOUN
fsr-3842	169	20	.	.	PUNCT
fsr-3842	170	1	the	the	DET
fsr-3842	170	2	evidence	evidence	NOUN
fsr-3842	170	3	in	in	ADP
fsr-3842	170	4	this	this	DET
fsr-3842	170	5	paper	paper	NOUN
fsr-3842	170	6	supports	support	VERB
fsr-3842	170	7	the	the	DET
fsr-3842	170	8	idea	idea	NOUN
fsr-3842	170	9	that	that	SCONJ
fsr-3842	170	10	very	very	ADV
fsr-3842	170	11	visible	visible	ADJ
fsr-3842	170	12	and	and	CCONJ
fsr-3842	170	13	aggressive	aggressive	ADJ
fsr-3842	170	14	activism	activism	NOUN
fsr-3842	170	15	does	do	AUX
fsr-3842	170	16	cause	cause	VERB
fsr-3842	170	17	substantial	substantial	ADJ
fsr-3842	170	18	increases	increase	NOUN
fsr-3842	170	19	in	in	ADP
fsr-3842	170	20	shareholder	shareholder	NOUN
fsr-3842	170	21	wealth	wealth	NOUN
fsr-3842	170	22	.	.	PUNCT
fsr-3842	171	1	however	however	ADV
fsr-3842	171	2	,	,	PUNCT
fsr-3842	171	3	a	a	DET
fsr-3842	171	4	quieter	quieter	NOUN
fsr-3842	171	5	activism	activism	NOUN
fsr-3842	171	6	does	do	AUX
fsr-3842	171	7	not	not	PART
fsr-3842	171	8	yield	yield	VERB
fsr-3842	171	9	the	the	DET
fsr-3842	171	10	same	same	ADJ
fsr-3842	171	11	results	result	NOUN
fsr-3842	171	12	.	.	PUNCT
fsr-3842	172	1	and	and	CCONJ
fsr-3842	172	2	while	while	SCONJ
fsr-3842	172	3	calpers	calpers	PROPN
fsr-3842	172	4	has	have	AUX
fsr-3842	172	5	become	become	VERB
fsr-3842	172	6	a	a	DET
fsr-3842	172	7	quieter	quieter	NOUN
fsr-3842	172	8	activist	activist	NOUN
fsr-3842	172	9	in	in	ADP
fsr-3842	172	10	the	the	DET
fsr-3842	172	11	last	last	ADJ
fsr-3842	172	12	few	few	ADJ
fsr-3842	172	13	years	year	NOUN
fsr-3842	172	14	,	,	PUNCT
fsr-3842	172	15	other	other	ADJ
fsr-3842	172	16	pension	pension	NOUN
fsr-3842	172	17	funds	fund	NOUN
fsr-3842	172	18	and	and	CCONJ
fsr-3842	172	19	mutual	mutual	ADJ
fsr-3842	172	20	funds	fund	NOUN
fsr-3842	172	21	con	con	X
fsr-3842	172	22	tinue	tinue	NOUN
fsr-3842	172	23	to	to	PART
fsr-3842	172	24	aggressively	aggressively	ADV
fsr-3842	172	25	monitor	monitor	VERB
fsr-3842	172	26	the	the	DET
fsr-3842	172	27	firms	firm	NOUN
fsr-3842	172	28	in	in	ADP
fsr-3842	172	29	which	which	PRON
fsr-3842	172	30	they	they	PRON
fsr-3842	172	31	invest	invest	VERB
fsr-3842	172	32	.	.	PUNCT
fsr-3842	173	1	in	in	ADP
fsr-3842	173	2	conclusion	conclusion	NOUN
fsr-3842	173	3	,	,	PUNCT
fsr-3842	173	4	our	our	PRON
fsr-3842	173	5	results	result	NOUN
fsr-3842	173	6	indi	indi	PROPN
fsr-3842	173	7	cate	cate	VERB
fsr-3842	173	8	that	that	SCONJ
fsr-3842	173	9	unless	unless	SCONJ
fsr-3842	173	10	management	management	NOUN
fsr-3842	173	11	is	be	AUX
fsr-3842	173	12	pressured	pressure	VERB
fsr-3842	173	13	into	into	ADP
fsr-3842	173	14	making	make	VERB
fsr-3842	173	15	substantial	substantial	ADJ
fsr-3842	173	16	changes	change	NOUN
fsr-3842	173	17	investors	investor	NOUN
fsr-3842	173	18	will	will	AUX
fsr-3842	173	19	not	not	PART
fsr-3842	173	20	benefit	benefit	VERB
fsr-3842	173	21	from	from	ADP
fsr-3842	173	22	shareholder	shareholder	NOUN
fsr-3842	173	23	activism	activism	NOUN
fsr-3842	173	24	.	.	PUNCT
fsr-3842	174	1	10	10	NUM
fsr-3842	174	2	financial	financial	ADJ
fsr-3842	174	3	services	service	NOUN
fsr-3842	174	4	review	review	VERB
fsr-3842	174	5	7(1	7(1	NUM
fsr-3842	174	6	)	)	PUNCT
fsr-3842	174	7	1998	1998	NUM
fsr-3842	175	1	references	reference	NOUN
fsr-3842	175	2	akhigbe	akhigbe	PROPN
fsr-3842	175	3	,	,	PUNCT
fsr-3842	175	4	a.	a.	NOUN
fsr-3842	175	5	,	,	PUNCT
fsr-3842	175	6	madura	madura	NOUN
fsr-3842	175	7	,	,	PUNCT
fsr-3842	175	8	j.	j.	PROPN
fsr-3842	175	9	,	,	PUNCT
fsr-3842	175	10	&	&	CCONJ
fsr-3842	175	11	tucker	tucker	PROPN
fsr-3842	175	12	,	,	PUNCT
fsr-3842	175	13	a.	a.	PROPN
fsr-3842	175	14	l.	l.	PROPN
fsr-3842	175	15	(	(	PUNCT
fsr-3842	175	16	1997	1997	NUM
fsr-3842	175	17	)	)	PUNCT
fsr-3842	175	18	.	.	PUNCT
fsr-3842	176	1	long	long	ADJ
fsr-3842	176	2	-	-	PUNCT
fsr-3842	176	3	term	term	NOUN
fsr-3842	176	4	valuation	valuation	NOUN
fsr-3842	176	5	effects	effect	NOUN
fsr-3842	176	6	of	of	ADP
fsr-3842	176	7	shareholder	shareholder	NOUN
fsr-3842	176	8	activ	activ	ADJ
fsr-3842	176	9	ism	ism	NOUN
fsr-3842	176	10	.	.	PUNCT
fsr-3842	177	1	applied	apply	VERB
fsr-3842	177	2	financial	financial	ADJ
fsr-3842	177	3	economics	economic	NOUN
fsr-3842	177	4	,	,	PUNCT
fsr-3842	177	5	7	7	NUM
fsr-3842	177	6	,	,	PUNCT
fsr-3842	177	7	567	567	NUM
fsr-3842	177	8	-	-	SYM
fsr-3842	177	9	573	573	NUM
fsr-3842	177	10	.	.	PUNCT
fsr-3842	178	1	anand	anand	PROPN
fsr-3842	178	2	,	,	PUNCT
fsr-3842	178	3	v.	v.	PROPN
fsr-3842	178	4	(	(	PUNCT
fsr-3842	178	5	1994	1994	NUM
fsr-3842	178	6	,	,	PUNCT
fsr-3842	178	7	january	january	PROPN
fsr-3842	178	8	24	24	NUM
fsr-3842	178	9	)	)	PUNCT
fsr-3842	178	10	.	.	PUNCT
fsr-3842	179	1	calpers	calper	NOUN
fsr-3842	179	2	gunning	gun	VERB
fsr-3842	179	3	for	for	ADP
fsr-3842	179	4	poor	poor	ADJ
fsr-3842	179	5	performers	performer	NOUN
fsr-3842	179	6	,	,	PUNCT
fsr-3842	179	7	3	3	NUM
fsr-3842	179	8	companies	company	NOUN
fsr-3842	179	9	being	be	AUX
fsr-3842	179	10	targeted	target	VERB
fsr-3842	179	11	by	by	ADP
fsr-3842	179	12	fund	fund	NOUN
fsr-3842	179	13	.	.	PUNCT
fsr-3842	180	1	pensions	pension	NOUN
fsr-3842	180	2	&	&	CCONJ
fsr-3842	180	3	investments	investment	NOUN
fsr-3842	180	4	,	,	PUNCT
fsr-3842	180	5	22	22	NUM
fsr-3842	180	6	,	,	PUNCT
fsr-3842	180	7	4	4	NUM
fsr-3842	180	8	,	,	PUNCT
fsr-3842	180	9	80	80	NUM
fsr-3842	180	10	.	.	PUNCT
fsr-3842	181	1	dobrzynski	dobrzynski	PROPN
fsr-3842	181	2	,	,	PUNCT
fsr-3842	181	3	j.	j.	PROPN
fsr-3842	181	4	h.	h.	PROPN
fsr-3842	181	5	(	(	PUNCT
fsr-3842	181	6	1992	1992	NUM
fsr-3842	181	7	,	,	PUNCT
fsr-3842	181	8	march	march	PROPN
fsr-3842	181	9	30	30	NUM
fsr-3842	181	10	)	)	PUNCT
fsr-3842	181	11	.	.	PUNCT
fsr-3842	182	1	calpers	calpers	PROPN
fsr-3842	182	2	is	be	AUX
fsr-3842	182	3	ready	ready	ADJ
fsr-3842	182	4	to	to	PART
fsr-3842	182	5	roar	roar	VERB
fsr-3842	182	6	,	,	PUNCT
fsr-3842	182	7	but	but	CCONJ
fsr-3842	182	8	will	will	AUX
fsr-3842	182	9	ceos	ceos	PROPN
fsr-3842	182	10	listen	listen	VERB
fsr-3842	182	11	.	.	PUNCT
fsr-3842	183	1	business	business	NOUN
fsr-3842	183	2	week	week	NOUN
fsr-3842	183	3	,	,	PUNCT
fsr-3842	183	4	44	44	NUM
fsr-3842	183	5	-	-	NUM
fsr-3842	183	6	-45	-45	PROPN
fsr-3842	183	7	.	.	PUNCT
fsr-3842	184	1	hwang	hwang	PROPN
fsr-3842	184	2	,	,	PUNCT
fsr-3842	184	3	s.	s.	PROPN
fsr-3842	184	4	l.	l.	PROPN
fsr-3842	184	5	(	(	PUNCT
fsr-3842	184	6	1995	1995	NUM
fsr-3842	184	7	,	,	PUNCT
fsr-3842	184	8	april	april	PROPN
fsr-3842	184	9	14	14	NUM
fsr-3842	184	10	)	)	PUNCT
fsr-3842	184	11	.	.	PUNCT
fsr-3842	185	1	calpers	calper	NOUN
fsr-3842	185	2	to	to	PART
fsr-3842	185	3	vote	vote	VERB
fsr-3842	185	4	against	against	ADP
fsr-3842	185	5	board	board	NOUN
fsr-3842	185	6	of	of	ADP
fsr-3842	185	7	philip	philip	PROPN
fsr-3842	185	8	morris	morris	PROPN
fsr-3842	185	9	.	.	PUNCT
fsr-3842	186	1	the	the	DET
fsr-3842	186	2	wall	wall	PROPN
fsr-3842	186	3	street	street	PROPN
fsr-3842	186	4	jour	jour	PROPN
fsr-3842	186	5	nal	nal	PROPN
fsr-3842	186	6	,	,	PUNCT
fsr-3842	186	7	b4	b4	NOUN
fsr-3842	186	8	.	.	PUNCT
fsr-3842	187	1	jensen	jensen	PROPN
fsr-3842	187	2	,	,	PUNCT
fsr-3842	187	3	m.	m.	PROPN
fsr-3842	187	4	c.	c.	PROPN
fsr-3842	187	5	,	,	PUNCT
fsr-3842	187	6	&	&	CCONJ
fsr-3842	187	7	meckling	meckling	PROPN
fsr-3842	187	8	,	,	PUNCT
fsr-3842	187	9	w.	w.	PROPN
fsr-3842	187	10	h.	h.	PROPN
fsr-3842	187	11	(	(	PUNCT
fsr-3842	187	12	1976	1976	NUM
fsr-3842	187	13	)	)	PUNCT
fsr-3842	187	14	.	.	PUNCT
fsr-3842	188	1	theory	theory	NOUN
fsr-3842	188	2	of	of	ADP
fsr-3842	188	3	the	the	DET
fsr-3842	188	4	firm	firm	NOUN
fsr-3842	188	5	:	:	PUNCT
fsr-3842	188	6	managerial	managerial	ADJ
fsr-3842	188	7	behavior	behavior	NOUN
fsr-3842	188	8	,	,	PUNCT
fsr-3842	188	9	agency	agency	NOUN
fsr-3842	188	10	costs	cost	NOUN
fsr-3842	188	11	and	and	CCONJ
fsr-3842	188	12	capital	capital	NOUN
fsr-3842	188	13	structure	structure	NOUN
fsr-3842	188	14	.	.	PUNCT
fsr-3842	189	1	journal	journal	NOUN
fsr-3842	189	2	of	of	ADP
fsr-3842	189	3	financial	financial	ADJ
fsr-3842	189	4	economics	economic	NOUN
fsr-3842	189	5	,	,	PUNCT
fsr-3842	189	6	3	3	NUM
fsr-3842	189	7	,	,	PUNCT
fsr-3842	189	8	305	305	NUM
fsr-3842	189	9	-	-	SYM
fsr-3842	189	10	360	360	NUM
fsr-3842	189	11	.	.	PUNCT
fsr-3842	190	1	kilman	kilman	PROPN
fsr-3842	190	2	,	,	PUNCT
fsr-3842	190	3	s.	s.	PROPN
fsr-3842	190	4	(	(	PUNCT
fsr-3842	190	5	1988	1988	NUM
fsr-3842	190	6	,	,	PUNCT
fsr-3842	190	7	may	may	AUX
fsr-3842	190	8	13	13	NUM
fsr-3842	190	9	)	)	PUNCT
fsr-3842	190	10	.	.	PUNCT
fsr-3842	191	1	holder	holder	NOUN
fsr-3842	191	2	resolutions	resolution	NOUN
fsr-3842	191	3	against	against	ADP
fsr-3842	191	4	poison	poison	NOUN
fsr-3842	191	5	pills	pill	NOUN
fsr-3842	191	6	win	win	VERB
fsr-3842	191	7	more	more	ADJ
fsr-3842	191	8	support	support	NOUN
fsr-3842	191	9	at	at	ADP
fsr-3842	191	10	annual	annual	ADJ
fsr-3842	191	11	meet	meet	NOUN
fsr-3842	191	12	ings	ing	NOUN
fsr-3842	191	13	.	.	PUNCT
fsr-3842	192	1	the	the	DET
fsr-3842	192	2	wall	wall	PROPN
fsr-3842	192	3	street	street	PROPN
fsr-3842	192	4	journal	journal	PROPN
fsr-3842	192	5	,	,	PUNCT
fsr-3842	192	6	4	4	NUM
fsr-3842	192	7	.	.	X
fsr-3842	192	8	nesbitt	nesbitt	PROPN
fsr-3842	192	9	,	,	PUNCT
fsr-3842	192	10	s.	s.	PROPN
fsr-3842	192	11	(	(	PUNCT
fsr-3842	192	12	1994	1994	NUM
fsr-3842	192	13	)	)	PUNCT
fsr-3842	192	14	.	.	PUNCT
fsr-3842	193	1	long	long	ADJ
fsr-3842	193	2	-	-	PUNCT
fsr-3842	193	3	term	term	NOUN
fsr-3842	193	4	rewards	reward	NOUN
fsr-3842	193	5	from	from	ADP
fsr-3842	193	6	shareholder	shareholder	NOUN
fsr-3842	193	7	activism	activism	NOUN
fsr-3842	193	8	:	:	PUNCT
fsr-3842	193	9	a	a	DET
fsr-3842	193	10	study	study	NOUN
fsr-3842	193	11	of	of	ADP
fsr-3842	193	12	the	the	DET
fsr-3842	193	13	calpers	calpers	PROPN
fsr-3842	193	14	effect	effect	NOUN
fsr-3842	193	15	.	.	PUNCT
fsr-3842	194	1	journal	journal	NOUN
fsr-3842	194	2	of	of	ADP
fsr-3842	194	3	applied	apply	VERB
fsr-3842	194	4	corporate	corporate	ADJ
fsr-3842	194	5	finance	finance	NOUN
fsr-3842	194	6	,	,	PUNCT
fsr-3842	194	7	6	6	NUM
fsr-3842	194	8	,	,	PUNCT
fsr-3842	194	9	75	75	NUM
fsr-3842	194	10	-	-	SYM
fsr-3842	194	11	80	80	NUM
fsr-3842	194	12	.	.	PUNCT
fsr-3842	195	1	opler	opler	ADJ
fsr-3842	195	2	,	,	PUNCT
fsr-3842	195	3	t.	t.	PROPN
fsr-3842	195	4	c.	c.	PROPN
fsr-3842	195	5	,	,	PUNCT
fsr-3842	195	6	&	&	CCONJ
fsr-3842	195	7	sokobin	sokobin	PROPN
fsr-3842	195	8	,	,	PUNCT
fsr-3842	195	9	j	j	PROPN
fsr-3842	195	10	,	,	PUNCT
fsr-3842	195	11	(	(	PUNCT
fsr-3842	195	12	1995	1995	NUM
fsr-3842	195	13	)	)	PUNCT
fsr-3842	195	14	.	.	PUNCT
fsr-3842	196	1	does	do	AUX
fsr-3842	196	2	coordinated	coordinate	VERB
fsr-3842	196	3	institutional	institutional	ADJ
fsr-3842	196	4	activism	activism	NOUN
fsr-3842	196	5	work	work	NOUN
fsr-3842	196	6	?	?	PUNCT
fsr-3842	197	1	an	an	DET
fsr-3842	197	2	analysis	analysis	NOUN
fsr-3842	197	3	of	of	ADP
fsr-3842	197	4	the	the	DET
fsr-3842	197	5	activities	activity	NOUN
fsr-3842	197	6	of	of	ADP
fsr-3842	197	7	the	the	DET
fsr-3842	197	8	council	council	NOUN
fsr-3842	197	9	of	of	ADP
fsr-3842	197	10	institutional	institutional	ADJ
fsr-3842	197	11	investors	investor	NOUN
fsr-3842	197	12	.	.	PUNCT
fsr-3842	198	1	working	work	VERB
fsr-3842	198	2	paper	paper	NOUN
fsr-3842	198	3	,	,	PUNCT
fsr-3842	198	4	ohio	ohio	PROPN
fsr-3842	198	5	state	state	PROPN
fsr-3842	198	6	university	university	PROPN
fsr-3842	198	7	.	.	PUNCT
fsr-3842	199	1	rehfeld	rehfeld	PROPN
fsr-3842	199	2	,	,	PUNCT
fsr-3842	199	3	b.	b.	PROPN
fsr-3842	199	4	(	(	PUNCT
fsr-3842	199	5	1997	1997	NUM
fsr-3842	199	6	)	)	PUNCT
fsr-3842	199	7	.	.	PUNCT
fsr-3842	200	1	low	low	ADJ
fsr-3842	200	2	-	-	PUNCT
fsr-3842	200	3	cal	cal	NOUN
fsr-3842	200	4	calpers	calper	NOUN
fsr-3842	200	5	.	.	PUNCT
fsr-3842	201	1	institutional	institutional	ADJ
fsr-3842	201	2	investor	investor	NOUN
fsr-3842	201	3	,	,	PUNCT
fsr-3842	201	4	31	31	NUM
fsr-3842	201	5	,	,	PUNCT
fsr-3842	201	6	41	41	NUM
fsr-3842	201	7	-	-	SYM
fsr-3842	201	8	49	49	NUM
fsr-3842	201	9	.	.	PUNCT
fsr-3842	202	1	schine	schine	PROPN
fsr-3842	202	2	,	,	PUNCT
fsr-3842	202	3	e.	e.	PROPN
fsr-3842	202	4	(	(	PUNCT
fsr-3842	202	5	1995	1995	NUM
fsr-3842	202	6	,	,	PUNCT
fsr-3842	202	7	february	february	PROPN
fsr-3842	202	8	13	13	NUM
fsr-3842	202	9	)	)	PUNCT
fsr-3842	202	10	.	.	PUNCT
fsr-3842	203	1	this	this	DET
fsr-3842	203	2	gadfly	gadfly	NOUN
fsr-3842	203	3	is	be	AUX
fsr-3842	203	4	really	really	ADV
fsr-3842	203	5	buzzing	buzz	VERB
fsr-3842	203	6	calpers	calper	NOUN
fsr-3842	203	7	is	be	AUX
fsr-3842	203	8	issuing	issue	VERB
fsr-3842	203	9	fresh	fresh	ADJ
fsr-3842	203	10	reprimands	reprimand	NOUN
fsr-3842	203	11	to	to	ADP
fsr-3842	203	12	laggard	laggard	NOUN
fsr-3842	203	13	boards	board	NOUN
fsr-3842	203	14	.	.	PUNCT
fsr-3842	204	1	business	business	NOUN
fsr-3842	204	2	week	week	NOUN
fsr-3842	204	3	,	,	PUNCT
fsr-3842	204	4	48	48	NUM
fsr-3842	204	5	-	-	SYM
fsr-3842	204	6	-49	-49	NUM
fsr-3842	204	7	.	.	PUNCT
fsr-3842	205	1	silverstein	silverstein	PROPN
fsr-3842	205	2	,	,	PUNCT
fsr-3842	205	3	s.	s.	PROPN
fsr-3842	205	4	(	(	PUNCT
fsr-3842	205	5	1991	1991	NUM
fsr-3842	205	6	,	,	PUNCT
fsr-3842	205	7	april	april	PROPN
fsr-3842	205	8	18	18	NUM
fsr-3842	205	9	)	)	PUNCT
fsr-3842	205	10	.	.	PUNCT
fsr-3842	206	1	calpers	calpers	PROPN
fsr-3842	206	2	backs	back	VERB
fsr-3842	206	3	activist	activist	NOUN
fsr-3842	206	4	for	for	ADP
fsr-3842	206	5	seat	seat	NOUN
fsr-3842	206	6	on	on	ADP
fsr-3842	206	7	sears	sears	PROPN
fsr-3842	206	8	board	board	PROPN
fsr-3842	206	9	.	.	PUNCT
fsr-3842	207	1	los	los	PROPN
fsr-3842	207	2	angeles	angeles	PROPN
fsr-3842	207	3	times	times	PROPN
fsr-3842	207	4	,	,	PUNCT
fsr-3842	207	5	d2	d2	PROPN
fsr-3842	207	6	.	.	PROPN
fsr-3842	207	7	smith	smith	PROPN
fsr-3842	207	8	,	,	PUNCT
fsr-3842	207	9	m.	m.	NOUN
fsr-3842	207	10	p.	p.	NOUN
fsr-3842	207	11	(	(	PUNCT
fsr-3842	207	12	1996	1996	NUM
fsr-3842	207	13	)	)	PUNCT
fsr-3842	207	14	.	.	PUNCT
fsr-3842	208	1	shareholder	shareholder	NOUN
fsr-3842	208	2	activism	activism	NOUN
fsr-3842	208	3	by	by	ADP
fsr-3842	208	4	institutional	institutional	ADJ
fsr-3842	208	5	investors	investor	NOUN
fsr-3842	208	6	:	:	PUNCT
fsr-3842	208	7	evidence	evidence	NOUN
fsr-3842	208	8	from	from	ADP
fsr-3842	208	9	calpers	calpers	PROPN
fsr-3842	208	10	.	.	PUNCT
fsr-3842	209	1	jour	jour	PROPN
fsr-3842	209	2	nal	nal	PROPN
fsr-3842	209	3	of	of	ADP
fsr-3842	209	4	finance	finance	NOUN
fsr-3842	209	5	,	,	PUNCT
fsr-3842	209	6	51	51	NUM
fsr-3842	209	7	,	,	PUNCT
fsr-3842	209	8	227	227	NUM
fsr-3842	209	9	-	-	SYM
fsr-3842	209	10	252	252	NUM
fsr-3842	209	11	.	.	PUNCT
fsr-3842	210	1	strickland	strickland	PROPN
fsr-3842	210	2	,	,	PUNCT
fsr-3842	210	3	d.	d.	PROPN
fsr-3842	210	4	,	,	PUNCT
fsr-3842	210	5	wiles	wile	NOUN
fsr-3842	210	6	,	,	PUNCT
fsr-3842	210	7	k.	k.	PROPN
fsr-3842	210	8	w.	w.	PROPN
fsr-3842	210	9	,	,	PUNCT
fsr-3842	210	10	&	&	CCONJ
fsr-3842	210	11	zenner	zenner	PROPN
fsr-3842	210	12	,	,	PUNCT
fsr-3842	210	13	m.	m.	NOUN
fsr-3842	210	14	(	(	PUNCT
fsr-3842	210	15	1996	1996	NUM
fsr-3842	210	16	)	)	PUNCT
fsr-3842	210	17	.	.	PUNCT
fsr-3842	211	1	a	a	DET
fsr-3842	211	2	requiem	requiem	NOUN
fsr-3842	211	3	for	for	ADP
fsr-3842	211	4	the	the	DET
fsr-3842	211	5	usa	usa	PROPN
fsr-3842	211	6	is	be	AUX
fsr-3842	211	7	small	small	ADJ
fsr-3842	211	8	shareholder	shareholder	NOUN
fsr-3842	211	9	mon	mon	NOUN
fsr-3842	211	10	itoring	itore	VERB
fsr-3842	211	11	effective	effective	ADJ
fsr-3842	211	12	.	.	PUNCT
fsr-3842	212	1	journal	journal	NOUN
fsr-3842	212	2	of	of	ADP
fsr-3842	212	3	financial	financial	ADJ
fsr-3842	212	4	economics	economic	NOUN
fsr-3842	212	5	,	,	PUNCT
fsr-3842	212	6	40	40	NUM
fsr-3842	212	7	,	,	PUNCT
fsr-3842	212	8	319	319	NUM
fsr-3842	212	9	-	-	SYM
fsr-3842	212	10	338	338	NUM
fsr-3842	212	11	.	.	PUNCT
fsr-3842	213	1	vise	vise	PROPN
fsr-3842	213	2	,	,	PUNCT
fsr-3842	213	3	d.	d.	PROPN
fsr-3842	213	4	a.	a.	PROPN
fsr-3842	213	5	(	(	PUNCT
fsr-3842	213	6	1993	1993	NUM
fsr-3842	213	7	,	,	PUNCT
fsr-3842	213	8	january	january	PROPN
fsr-3842	213	9	28	28	NUM
fsr-3842	213	10	)	)	PUNCT
fsr-3842	213	11	.	.	PUNCT
fsr-3842	214	1	new	new	ADJ
fsr-3842	214	2	force	force	NOUN
fsr-3842	214	3	in	in	ADP
fsr-3842	214	4	boardroom	boardroom	NOUN
fsr-3842	214	5	.	.	PUNCT
fsr-3842	215	1	the	the	DET
fsr-3842	215	2	washington	washington	PROPN
fsr-3842	215	3	post	post	PROPN
fsr-3842	215	4	,	,	PUNCT
fsr-3842	215	5	a1	a1	PROPN
fsr-3842	215	6	.	.	PROPN
fsr-3842	215	7	wahal	wahal	PROPN
fsr-3842	215	8	,	,	PUNCT
fsr-3842	215	9	s.	s.	PROPN
fsr-3842	215	10	(	(	PUNCT
fsr-3842	215	11	1996	1996	NUM
fsr-3842	215	12	)	)	PUNCT
fsr-3842	215	13	.	.	PUNCT
fsr-3842	216	1	public	public	ADJ
fsr-3842	216	2	pension	pension	NOUN
fsr-3842	216	3	fund	fund	NOUN
fsr-3842	216	4	activism	activism	NOUN
fsr-3842	216	5	and	and	CCONJ
fsr-3842	216	6	firm	firm	ADJ
fsr-3842	216	7	performance	performance	NOUN
fsr-3842	216	8	.	.	PUNCT
fsr-3842	217	1	journal	journal	NOUN
fsr-3842	217	2	of	of	ADP
fsr-3842	217	3	financial	financial	ADJ
fsr-3842	217	4	and	and	CCONJ
fsr-3842	217	5	quantitative	quantitative	ADJ
fsr-3842	217	6	analysis	analysis	NOUN
fsr-3842	217	7	,	,	PUNCT
fsr-3842	217	8	31	31	NUM
fsr-3842	217	9	,	,	PUNCT
fsr-3842	217	10	1	1	NUM
fsr-3842	217	11	-	-	SYM
fsr-3842	217	12	23	23	NUM
fsr-3842	217	13	.	.	PUNCT