id	sid	tid	token	lemma	pos
fsr-3845	1	1	pii	pii	PROPN
fsr-3845	1	2	:	:	PUNCT
fsr-3845	1	3	s1057	s1057	NOUN
fsr-3845	1	4	-	-	PUNCT
fsr-3845	1	5	0810(99)80012	0810(99)80012	NOUN
fsr-3845	1	6	-	-	PUNCT
fsr-3845	1	7	2	2	NUM
fsr-3845	1	8	i	i	PROPN
fsr-3845	1	9	financial	financial	PROPN
fsr-3845	1	10	services	service	NOUN
fsr-3845	1	11	review	review	PROPN
fsr-3845	1	12	,	,	PUNCT
fsr-3845	1	13	7(i	7(i	NUM
fsr-3845	1	14	):	):	PUNCT
fsr-3845	1	15	45	45	NUM
fsr-3845	1	16	-	-	SYM
fsr-3845	1	17	55	55	NUM
fsr-3845	1	18	issn	issn	NOUN
fsr-3845	1	19	:	:	PUNCT
fsr-3845	1	20	1057	1057	NUM
fsr-3845	1	21	-	-	SYM
fsr-3845	1	22	0810	0810	NUM
fsr-3845	1	23	copyright	copyright	NOUN
fsr-3845	1	24	©	©	PROPN
fsr-3845	1	25	1998	1998	NUM
fsr-3845	1	26	by	by	ADP
fsr-3845	1	27	jai	jai	PROPN
fsr-3845	1	28	press	press	PROPN
fsr-3845	1	29	inc	inc	PROPN
fsr-3845	1	30	.	.	PUNCT
fsr-3845	2	1	all	all	DET
fsr-3845	2	2	rights	right	NOUN
fsr-3845	2	3	of	of	ADP
fsr-3845	2	4	reproduction	reproduction	NOUN
fsr-3845	2	5	in	in	ADP
fsr-3845	2	6	any	any	DET
fsr-3845	2	7	form	form	NOUN
fsr-3845	2	8	reserved	reserve	VERB
fsr-3845	2	9	.	.	PUNCT
fsr-3845	3	1	explaining	explain	VERB
fsr-3845	3	2	persistence	persistence	NOUN
fsr-3845	3	3	in	in	ADP
fsr-3845	3	4	mutual	mutual	ADJ
fsr-3845	3	5	fund	fund	NOUN
fsr-3845	3	6	performance	performance	NOUN
fsr-3845	3	7	f.	f.	PROPN
fsr-3845	3	8	larry	larry	PROPN
fsr-3845	3	9	detzel	detzel	PROPN
fsr-3845	3	10	and	and	CCONJ
fsr-3845	3	11	robert	robert	PROPN
fsr-3845	3	12	a.	a.	PROPN
fsr-3845	3	13	weigand	weigand	PROPN
fsr-3845	3	14	this	this	DET
fsr-3845	3	15	study	study	NOUN
fsr-3845	3	16	investigates	investigate	VERB
fsr-3845	3	17	the	the	DET
fsr-3845	3	18	determinants	determinant	NOUN
fsr-3845	3	19	of	of	ADP
fsr-3845	3	20	persistence	persistence	NOUN
fsr-3845	3	21	in	in	ADP
fsr-3845	3	22	mutual	mutual	ADJ
fsr-3845	3	23	fund	fund	NOUN
fsr-3845	3	24	performance	performance	NOUN
fsr-3845	3	25	.	.	PUNCT
fsr-3845	4	1	previous	previous	ADJ
fsr-3845	4	2	research	research	NOUN
fsr-3845	4	3	that	that	PRON
fsr-3845	4	4	uses	use	VERB
fsr-3845	4	5	factor	factor	NOUN
fsr-3845	4	6	-	-	PUNCT
fsr-3845	4	7	mimicking	mimic	VERB
fsr-3845	4	8	portfolios	portfolio	NOUN
fsr-3845	4	9	and	and	CCONJ
fsr-3845	4	10	characteristic	characteristic	ADJ
fsr-3845	4	11	benchmarks	benchmark	NOUN
fsr-3845	4	12	to	to	PART
fsr-3845	4	13	model	model	NOUN
fsr-3845	4	14	fund	fund	NOUN
fsr-3845	4	15	performance	performance	NOUN
fsr-3845	4	16	fails	fail	VERB
fsr-3845	4	17	to	to	PART
fsr-3845	4	18	explain	explain	VERB
fsr-3845	4	19	all	all	DET
fsr-3845	4	20	the	the	DET
fsr-3845	4	21	persistence	persistence	NOUN
fsr-3845	4	22	in	in	ADP
fsr-3845	4	23	fund	fund	NOUN
fsr-3845	4	24	returns	return	NOUN
fsr-3845	4	25	.	.	PUNCT
fsr-3845	5	1	this	this	DET
fsr-3845	5	2	study	study	NOUN
fsr-3845	5	3	employs	employ	VERB
fsr-3845	5	4	a	a	DET
fsr-3845	5	5	model	model	NOUN
fsr-3845	5	6	that	that	PRON
fsr-3845	5	7	directly	directly	ADV
fsr-3845	5	8	relates	relate	VERB
fsr-3845	5	9	mutual	mutual	ADJ
fsr-3845	5	10	fund	fund	NOUN
fsr-3845	5	11	returns	return	NOUN
fsr-3845	5	12	to	to	ADP
fsr-3845	5	13	the	the	DET
fsr-3845	5	14	characteristics	characteristic	NOUN
fsr-3845	5	15	of	of	ADP
fsr-3845	5	16	the	the	DET
fsr-3845	5	17	stocks	stock	NOUN
fsr-3845	5	18	hem	hem	NOUN
fsr-3845	5	19	by	by	ADP
fsr-3845	5	20	funds	fund	NOUN
fsr-3845	5	21	.	.	PUNCT
fsr-3845	6	1	adjusting	adjust	VERB
fsr-3845	6	2	fund	fund	NOUN
fsr-3845	6	3	returns	return	NOUN
fsr-3845	6	4	for	for	ADP
fsr-3845	6	5	the	the	DET
fsr-3845	6	6	size	size	NOUN
fsr-3845	6	7	of	of	ADP
fsr-3845	6	8	the	the	DET
fsr-3845	6	9	stocks	stock	NOUN
fsr-3845	6	10	in	in	ADP
fsr-3845	6	11	which	which	PRON
fsr-3845	6	12	funds	fund	NOUN
fsr-3845	6	13	invest	invest	VERB
fsr-3845	6	14	and	and	CCONJ
fsr-3845	6	15	financial	financial	ADJ
fsr-3845	6	16	ratios	ratio	NOUN
fsr-3845	6	17	intended	intend	VERB
fsr-3845	6	18	to	to	PART
fsr-3845	6	19	capture	capture	VERB
fsr-3845	6	20	fund	fund	NOUN
fsr-3845	6	21	manager	manager	NOUN
fsr-3845	6	22	investment	investment	NOUN
fsr-3845	6	23	styles	style	NOUN
fsr-3845	6	24	explains	explain	VERB
fsr-3845	6	25	all	all	DET
fsr-3845	6	26	the	the	DET
fsr-3845	6	27	persistence	persistence	NOUN
fsr-3845	6	28	in	in	ADP
fsr-3845	6	29	mutual	mutual	ADJ
fsr-3845	6	30	fund	fund	NOUN
fsr-3845	6	31	returns	return	NOUN
fsr-3845	6	32	from	from	ADP
fsr-3845	6	33	1976	1976	NUM
fsr-3845	6	34	-	-	SYM
fsr-3845	6	35	1985	1985	NUM
fsr-3845	6	36	,	,	PUNCT
fsr-3845	6	37	the	the	DET
fsr-3845	6	38	period	period	NOUN
fsr-3845	6	39	in	in	ADP
fsr-3845	6	40	which	which	PRON
fsr-3845	6	41	persis	persis	NOUN
fsr-3845	6	42	tence	tence	NOUN
fsr-3845	6	43	is	be	AUX
fsr-3845	6	44	most	most	ADV
fsr-3845	6	45	prevalent	prevalent	ADJ
fsr-3845	6	46	.	.	PUNCT
fsr-3845	7	1	"	"	PUNCT
fsr-3845	7	2	past	past	ADJ
fsr-3845	7	3	performance	performance	NOUN
fsr-3845	7	4	is	be	AUX
fsr-3845	7	5	no	no	DET
fsr-3845	7	6	guarantee	guarantee	NOUN
fsr-3845	7	7	of	of	ADP
fsr-3845	7	8	future	future	ADJ
fsr-3845	7	9	results	result	NOUN
fsr-3845	7	10	.	.	PUNCT
fsr-3845	8	1	"	"	PUNCT
fsr-3845	8	2	--sec	--sec	PROPN
fsr-3845	8	3	i.	i.	NOUN
fsr-3845	8	4	introduction	introduction	NOUN
fsr-3845	8	5	despite	despite	SCONJ
fsr-3845	8	6	the	the	DET
fsr-3845	8	7	sec	sec	PROPN
fsr-3845	8	8	's	's	PART
fsr-3845	8	9	admonition	admonition	NOUN
fsr-3845	8	10	regarding	regard	VERB
fsr-3845	8	11	investing	invest	VERB
fsr-3845	8	12	based	base	VERB
fsr-3845	8	13	on	on	ADP
fsr-3845	8	14	past	past	ADJ
fsr-3845	8	15	performance	performance	NOUN
fsr-3845	8	16	,	,	PUNCT
fsr-3845	8	17	studies	study	NOUN
fsr-3845	8	18	into	into	ADP
fsr-3845	8	19	the	the	DET
fsr-3845	8	20	behavior	behavior	NOUN
fsr-3845	8	21	of	of	ADP
fsr-3845	8	22	mutual	mutual	ADJ
fsr-3845	8	23	fund	fund	NOUN
fsr-3845	8	24	investors	investor	NOUN
fsr-3845	8	25	find	find	VERB
fsr-3845	8	26	that	that	SCONJ
fsr-3845	8	27	prior	prior	ADJ
fsr-3845	8	28	period	period	NOUN
fsr-3845	8	29	returns	return	NOUN
fsr-3845	8	30	are	be	AUX
fsr-3845	8	31	the	the	DET
fsr-3845	8	32	most	most	ADV
fsr-3845	8	33	significant	significant	ADJ
fsr-3845	8	34	determinant	determinant	NOUN
fsr-3845	8	35	of	of	ADP
fsr-3845	8	36	new	new	ADJ
fsr-3845	8	37	money	money	NOUN
fsr-3845	8	38	flows	flow	VERB
fsr-3845	8	39	into	into	ADP
fsr-3845	8	40	mutual	mutual	ADJ
fsr-3845	8	41	funds	fund	NOUN
fsr-3845	8	42	(	(	PUNCT
fsr-3845	8	43	see	see	VERB
fsr-3845	8	44	carhart	carhart	NOUN
fsr-3845	8	45	,	,	PUNCT
fsr-3845	8	46	1997	1997	NUM
fsr-3845	8	47	;	;	PUNCT
fsr-3845	8	48	gruber	gruber	PROPN
fsr-3845	8	49	,	,	PUNCT
fsr-3845	8	50	1996	1996	NUM
fsr-3845	8	51	;	;	PUNCT
fsr-3845	8	52	ippolito	ippolito	PROPN
fsr-3845	8	53	,	,	PUNCT
fsr-3845	8	54	1992	1992	NUM
fsr-3845	8	55	;	;	PUNCT
fsr-3845	8	56	lakonishok	lakonishok	NOUN
fsr-3845	8	57	,	,	PUNCT
fsr-3845	8	58	shleifer	shleifer	NOUN
fsr-3845	8	59	,	,	PUNCT
fsr-3845	8	60	&	&	CCONJ
fsr-3845	8	61	vishny	vishny	PROPN
fsr-3845	8	62	,	,	PUNCT
fsr-3845	8	63	1992	1992	NUM
fsr-3845	8	64	;	;	PUNCT
fsr-3845	8	65	and	and	CCONJ
fsr-3845	8	66	patel	patel	PROPN
fsr-3845	8	67	,	,	PUNCT
fsr-3845	8	68	zeckhauser	zeckhauser	NOUN
fsr-3845	8	69	,	,	PUNCT
fsr-3845	8	70	&	&	CCONJ
fsr-3845	8	71	hen	hen	NOUN
fsr-3845	8	72	dricks	drick	NOUN
fsr-3845	8	73	,	,	PUNCT
fsr-3845	8	74	1992	1992	NUM
fsr-3845	8	75	)	)	PUNCT
fsr-3845	8	76	.	.	PUNCT
fsr-3845	9	1	the	the	DET
fsr-3845	9	2	perception	perception	NOUN
fsr-3845	9	3	that	that	SCONJ
fsr-3845	9	4	recent	recent	ADJ
fsr-3845	9	5	performance	performance	NOUN
fsr-3845	9	6	is	be	AUX
fsr-3845	9	7	an	an	DET
fsr-3845	9	8	important	important	ADJ
fsr-3845	9	9	consideration	consideration	NOUN
fsr-3845	9	10	in	in	ADP
fsr-3845	9	11	mutual	mutual	ADJ
fsr-3845	9	12	fund	fund	NOUN
fsr-3845	9	13	selection	selection	NOUN
fsr-3845	9	14	is	be	AUX
fsr-3845	9	15	undoubtedly	undoubtedly	ADV
fsr-3845	9	16	enhanced	enhance	VERB
fsr-3845	9	17	by	by	ADP
fsr-3845	9	18	the	the	DET
fsr-3845	9	19	marketing	marketing	NOUN
fsr-3845	9	20	methods	method	NOUN
fsr-3845	9	21	of	of	ADP
fsr-3845	9	22	the	the	DET
fsr-3845	9	23	funds	fund	NOUN
fsr-3845	9	24	themselves	themselves	PRON
fsr-3845	9	25	.	.	PUNCT
fsr-3845	10	1	mutual	mutual	ADJ
fsr-3845	10	2	funds	fund	NOUN
fsr-3845	10	3	devote	devote	VERB
fsr-3845	10	4	significantly	significantly	ADV
fsr-3845	10	5	more	more	ADJ
fsr-3845	10	6	print	print	NOUN
fsr-3845	10	7	space	space	NOUN
fsr-3845	10	8	to	to	ADP
fsr-3845	10	9	reporting	report	VERB
fsr-3845	10	10	their	their	PRON
fsr-3845	10	11	past	past	ADJ
fsr-3845	10	12	returns	return	NOUN
fsr-3845	10	13	than	than	ADP
fsr-3845	10	14	to	to	ADP
fsr-3845	10	15	the	the	DET
fsr-3845	10	16	sec	sec	PROPN
fsr-3845	10	17	's	's	PART
fsr-3845	10	18	required	require	VERB
fsr-3845	10	19	warning	warning	NOUN
fsr-3845	10	20	regarding	regard	VERB
fsr-3845	10	21	persistence	persistence	NOUN
fsr-3845	10	22	-	-	PUNCT
fsr-3845	10	23	based	base	VERB
fsr-3845	10	24	investment	investment	NOUN
fsr-3845	10	25	strate	strate	NOUN
fsr-3845	10	26	gies	gy	NOUN
fsr-3845	10	27	.	.	PUNCT
fsr-3845	11	1	this	this	DET
fsr-3845	11	2	study	study	NOUN
fsr-3845	11	3	investigates	investigate	VERB
fsr-3845	11	4	the	the	DET
fsr-3845	11	5	source	source	NOUN
fsr-3845	11	6	of	of	ADP
fsr-3845	11	7	persistence	persistence	NOUN
fsr-3845	11	8	in	in	ADP
fsr-3845	11	9	mutual	mutual	ADJ
fsr-3845	11	10	fund	fund	NOUN
fsr-3845	11	11	performance	performance	NOUN
fsr-3845	11	12	to	to	PART
fsr-3845	11	13	help	help	VERB
fsr-3845	11	14	investors	investor	NOUN
fsr-3845	11	15	better	well	ADV
fsr-3845	11	16	understand	understand	VERB
fsr-3845	11	17	what	what	PRON
fsr-3845	11	18	information	information	NOUN
fsr-3845	11	19	is	be	AUX
fsr-3845	11	20	relevant	relevant	ADJ
fsr-3845	11	21	when	when	SCONJ
fsr-3845	11	22	choosing	choose	VERB
fsr-3845	11	23	a	a	DET
fsr-3845	11	24	fund	fund	NOUN
fsr-3845	11	25	.	.	PUNCT
fsr-3845	12	1	the	the	DET
fsr-3845	12	2	results	result	NOUN
fsr-3845	12	3	indicate	indicate	VERB
fsr-3845	12	4	that	that	SCONJ
fsr-3845	12	5	certain	certain	ADJ
fsr-3845	12	6	characteristics	characteristic	NOUN
fsr-3845	12	7	of	of	ADP
fsr-3845	12	8	the	the	DET
fsr-3845	12	9	stocks	stock	NOUN
fsr-3845	12	10	held	hold	VERB
fsr-3845	12	11	by	by	ADP
fsr-3845	12	12	mutual	mutual	ADJ
fsr-3845	12	13	funds	fund	NOUN
fsr-3845	12	14	explain	explain	VERB
fsr-3845	12	15	all	all	PRON
fsr-3845	12	16	of	of	ADP
fsr-3845	12	17	the	the	DET
fsr-3845	12	18	per	per	ADJ
fsr-3845	12	19	sistence	sistence	NOUN
fsr-3845	12	20	in	in	ADP
fsr-3845	12	21	fund	fund	NOUN
fsr-3845	12	22	returns	return	NOUN
fsr-3845	12	23	.	.	PUNCT
fsr-3845	13	1	mutual	mutual	ADJ
fsr-3845	13	2	fund	fund	NOUN
fsr-3845	13	3	investing	investing	NOUN
fsr-3845	13	4	has	have	AUX
fsr-3845	13	5	enjoyed	enjoy	VERB
fsr-3845	13	6	phenomenal	phenomenal	ADJ
fsr-3845	13	7	growth	growth	NOUN
fsr-3845	13	8	in	in	ADP
fsr-3845	13	9	recent	recent	ADJ
fsr-3845	13	10	years	year	NOUN
fsr-3845	13	11	.	.	PUNCT
fsr-3845	14	1	at	at	ADP
fsr-3845	14	2	the	the	DET
fsr-3845	14	3	end	end	NOUN
fsr-3845	14	4	of	of	ADP
fsr-3845	14	5	1995	1995	NUM
fsr-3845	14	6	,	,	PUNCT
fsr-3845	14	7	investors	investor	NOUN
fsr-3845	14	8	held	hold	VERB
fsr-3845	14	9	almost	almost	ADV
fsr-3845	14	10	$	$	SYM
fsr-3845	14	11	1.3	1.3	NUM
fsr-3845	14	12	trillion	trillion	NUM
fsr-3845	14	13	in	in	ADP
fsr-3845	14	14	assets	asset	NOUN
fsr-3845	14	15	at	at	ADP
fsr-3845	14	16	over	over	ADP
fsr-3845	14	17	2,200	2,200	NUM
fsr-3845	14	18	domestic	domestic	ADJ
fsr-3845	14	19	stock	stock	NOUN
fsr-3845	14	20	mutual	mutual	ADJ
fsr-3845	14	21	f.	f.	PROPN
fsr-3845	14	22	larry	larry	PROPN
fsr-3845	14	23	detzel	detzel	PROPN
fsr-3845	14	24	and	and	CCONJ
fsr-3845	14	25	robert	robert	PROPN
fsr-3845	14	26	a.	a.	PROPN
fsr-3845	14	27	weigand	weigand	PROPN
fsr-3845	14	28	•	•	PROPN
fsr-3845	14	29	college	college	PROPN
fsr-3845	14	30	of	of	ADP
fsr-3845	14	31	business	business	NOUN
fsr-3845	14	32	and	and	CCONJ
fsr-3845	14	33	administration	administration	NOUN
fsr-3845	14	34	,	,	PUNCT
fsr-3845	14	35	university	university	PROPN
fsr-3845	14	36	of	of	ADP
fsr-3845	14	37	colorado	colorado	PROPN
fsr-3845	14	38	at	at	ADP
fsr-3845	14	39	colorado	colorado	PROPN
fsr-3845	14	40	springs	spring	NOUN
fsr-3845	14	41	,	,	PUNCT
fsr-3845	14	42	1420	1420	NUM
fsr-3845	14	43	austin	austin	PROPN
fsr-3845	14	44	bluffs	bluffs	PROPN
fsr-3845	14	45	parkway	parkway	PROPN
fsr-3845	14	46	,	,	PUNCT
fsr-3845	14	47	colorado	colorado	PROPN
fsr-3845	14	48	springs	spring	NOUN
fsr-3845	14	49	,	,	PUNCT
fsr-3845	14	50	co	co	NOUN
fsr-3845	14	51	80933	80933	NUM
fsr-3845	14	52	;	;	PUNCT
fsr-3845	14	53	phone	phone	NOUN
fsr-3845	14	54	:	:	PUNCT
fsr-3845	14	55	(	(	PUNCT
fsr-3845	14	56	719	719	NUM
fsr-3845	14	57	)	)	PUNCT
fsr-3845	14	58	262	262	NUM
fsr-3845	14	59	-	-	SYM
fsr-3845	14	60	3676	3676	NUM
fsr-3845	14	61	,	,	PUNCT
fsr-3845	14	62	or	or	CCONJ
fsr-3845	14	63	(	(	PUNCT
fsr-3845	14	64	719	719	NUM
fsr-3845	14	65	)	)	PUNCT
fsr-3845	14	66	262	262	NUM
fsr-3845	14	67	-	-	SYM
fsr-3845	14	68	3120	3120	NUM
fsr-3845	14	69	.	.	PUNCT
fsr-3845	15	1	46	46	NUM
fsr-3845	15	2	financial	financial	ADJ
fsr-3845	15	3	services	service	NOUN
fsr-3845	15	4	review	review	VERB
fsr-3845	15	5	7(1	7(1	NUM
fsr-3845	15	6	)	)	PUNCT
fsr-3845	15	7	1998	1998	NUM
fsr-3845	15	8	funds	fund	NOUN
fsr-3845	15	9	.	.	PUNCT
fsr-3845	16	1	by	by	ADP
fsr-3845	16	2	the	the	DET
fsr-3845	16	3	end	end	NOUN
fsr-3845	16	4	of	of	ADP
fsr-3845	16	5	1997	1997	NUM
fsr-3845	16	6	,	,	PUNCT
fsr-3845	16	7	investor	investor	NOUN
fsr-3845	16	8	holdings	holding	NOUN
fsr-3845	16	9	approached	approach	VERB
fsr-3845	16	10	$	$	SYM
fsr-3845	16	11	2.5	2.5	NUM
fsr-3845	16	12	trillion	trillion	NUM
fsr-3845	16	13	(	(	PUNCT
fsr-3845	16	14	investment	investment	NOUN
fsr-3845	16	15	com	com	NOUN
fsr-3845	16	16	pany	pany	PROPN
fsr-3845	16	17	institute	institute	PROPN
fsr-3845	16	18	,	,	PUNCT
fsr-3845	16	19	1998	1998	NUM
fsr-3845	16	20	)	)	PUNCT
fsr-3845	16	21	.	.	PUNCT
fsr-3845	17	1	the	the	DET
fsr-3845	17	2	flow	flow	NOUN
fsr-3845	17	3	of	of	ADP
fsr-3845	17	4	new	new	ADJ
fsr-3845	17	5	money	money	NOUN
fsr-3845	17	6	into	into	ADP
fsr-3845	17	7	the	the	DET
fsr-3845	17	8	best	good	ADJ
fsr-3845	17	9	performing	performing	NOUN
fsr-3845	17	10	funds	fund	NOUN
fsr-3845	17	11	far	far	ADV
fsr-3845	17	12	surpasses	surpass	VERB
fsr-3845	17	13	new	new	ADJ
fsr-3845	17	14	investment	investment	NOUN
fsr-3845	17	15	in	in	ADP
fsr-3845	17	16	funds	fund	NOUN
fsr-3845	17	17	that	that	PRON
fsr-3845	17	18	lag	lag	VERB
fsr-3845	17	19	the	the	DET
fsr-3845	17	20	overall	overall	ADJ
fsr-3845	17	21	market	market	NOUN
fsr-3845	17	22	(	(	PUNCT
fsr-3845	17	23	see	see	VERB
fsr-3845	17	24	carhart	carhart	NOUN
fsr-3845	17	25	,	,	PUNCT
fsr-3845	17	26	1997	1997	NUM
fsr-3845	17	27	and	and	CCONJ
fsr-3845	17	28	gruber	gruber	PROPN
fsr-3845	17	29	,	,	PUNCT
fsr-3845	17	30	1996	1996	NUM
fsr-3845	17	31	)	)	PUNCT
fsr-3845	17	32	.	.	PUNCT
fsr-3845	18	1	this	this	DET
fsr-3845	18	2	study	study	NOUN
fsr-3845	18	3	investigates	investigate	VERB
fsr-3845	18	4	the	the	DET
fsr-3845	18	5	underlying	underlie	VERB
fsr-3845	18	6	factors	factor	NOUN
fsr-3845	18	7	that	that	PRON
fsr-3845	18	8	explain	explain	VERB
fsr-3845	18	9	the	the	DET
fsr-3845	18	10	apparent	apparent	ADJ
fsr-3845	18	11	"	"	PUNCT
fsr-3845	18	12	momentum	momentum	NOUN
fsr-3845	18	13	"	"	PUNCT
fsr-3845	18	14	in	in	ADP
fsr-3845	18	15	mutual	mutual	ADJ
fsr-3845	18	16	fund	fund	NOUN
fsr-3845	18	17	returns	return	NOUN
fsr-3845	18	18	.	.	PUNCT
fsr-3845	19	1	while	while	SCONJ
fsr-3845	19	2	most	most	ADJ
fsr-3845	19	3	prior	prior	ADJ
fsr-3845	19	4	studies	study	NOUN
fsr-3845	19	5	find	find	VERB
fsr-3845	19	6	evidence	evidence	NOUN
fsr-3845	19	7	of	of	ADP
fsr-3845	19	8	momentum	momentum	NOUN
fsr-3845	19	9	in	in	ADP
fsr-3845	19	10	fund	fund	NOUN
fsr-3845	19	11	returns	return	NOUN
fsr-3845	19	12	,	,	PUNCT
fsr-3845	19	13	authors	author	NOUN
fsr-3845	19	14	disagree	disagree	VERB
fsr-3845	19	15	regarding	regard	VERB
fsr-3845	19	16	the	the	DET
fsr-3845	19	17	source	source	NOUN
fsr-3845	19	18	of	of	ADP
fsr-3845	19	19	persistence	persistence	NOUN
fsr-3845	19	20	and	and	CCONJ
fsr-3845	19	21	whether	whether	SCONJ
fsr-3845	19	22	persistence	persistence	NOUN
fsr-3845	19	23	-	-	PUNCT
fsr-3845	19	24	based	base	VERB
fsr-3845	19	25	investing	investing	NOUN
fsr-3845	19	26	can	can	AUX
fsr-3845	19	27	generate	generate	VERB
fsr-3845	19	28	excess	excess	ADJ
fsr-3845	19	29	returns	return	NOUN
fsr-3845	19	30	.	.	PUNCT
fsr-3845	20	1	brown	brown	ADJ
fsr-3845	20	2	and	and	CCONJ
fsr-3845	20	3	goetzmann	goetzmann	PROPN
fsr-3845	20	4	(	(	PUNCT
fsr-3845	20	5	1995	1995	NUM
fsr-3845	20	6	)	)	PUNCT
fsr-3845	20	7	conclude	conclude	VERB
fsr-3845	20	8	that	that	SCONJ
fsr-3845	20	9	"	"	PUNCT
fsr-3845	20	10	investors	investor	NOUN
fsr-3845	20	11	can	can	AUX
fsr-3845	20	12	use	use	VERB
fsr-3845	20	13	historical	historical	ADJ
fsr-3845	20	14	information	information	NOUN
fsr-3845	20	15	to	to	PART
fsr-3845	20	16	beat	beat	VERB
fsr-3845	20	17	the	the	DET
fsr-3845	20	18	pack	pack	NOUN
fsr-3845	20	19	"	"	PUNCT
fsr-3845	20	20	(	(	PUNCT
fsr-3845	20	21	p.	p.	NOUN
fsr-3845	20	22	697	697	NUM
fsr-3845	20	23	)	)	PUNCT
fsr-3845	20	24	,	,	PUNCT
fsr-3845	20	25	but	but	CCONJ
fsr-3845	20	26	also	also	ADV
fsr-3845	20	27	find	find	VERB
fsr-3845	20	28	that	that	SCONJ
fsr-3845	20	29	investing	investing	NOUN
fsr-3845	20	30	based	base	VERB
fsr-3845	20	31	on	on	ADP
fsr-3845	20	32	persistence	persistence	NOUN
fsr-3845	20	33	exposes	expose	VERB
fsr-3845	20	34	investors	investor	NOUN
fsr-3845	20	35	to	to	ADP
fsr-3845	20	36	greater	great	ADJ
fsr-3845	20	37	total	total	ADJ
fsr-3845	20	38	risk	risk	NOUN
fsr-3845	20	39	than	than	ADP
fsr-3845	20	40	other	other	ADJ
fsr-3845	20	41	strategies	strategy	NOUN
fsr-3845	20	42	.	.	PUNCT
fsr-3845	21	1	carhart	carhart	NOUN
fsr-3845	21	2	(	(	PUNCT
fsr-3845	21	3	1997	1997	NUM
fsr-3845	21	4	)	)	PUNCT
fsr-3845	21	5	finds	find	VERB
fsr-3845	21	6	that	that	SCONJ
fsr-3845	21	7	almost	almost	ADV
fsr-3845	21	8	all	all	DET
fsr-3845	21	9	the	the	DET
fsr-3845	21	10	predictability	predictability	NOUN
fsr-3845	21	11	in	in	ADP
fsr-3845	21	12	mutual	mutual	ADJ
fsr-3845	21	13	fund	fund	NOUN
fsr-3845	21	14	returns	return	NOUN
fsr-3845	21	15	is	be	AUX
fsr-3845	21	16	explained	explain	VERB
fsr-3845	21	17	by	by	ADP
fsr-3845	21	18	common	common	ADJ
fsr-3845	21	19	factors	factor	NOUN
fsr-3845	21	20	in	in	ADP
fsr-3845	21	21	stock	stock	NOUN
fsr-3845	21	22	returns	return	NOUN
fsr-3845	21	23	and	and	CCONJ
fsr-3845	21	24	systematic	systematic	ADJ
fsr-3845	21	25	differences	difference	NOUN
fsr-3845	21	26	in	in	ADP
fsr-3845	21	27	mutual	mutual	ADJ
fsr-3845	21	28	fund	fund	NOUN
fsr-3845	21	29	expenses	expense	NOUN
fsr-3845	21	30	and	and	CCONJ
fsr-3845	21	31	transaction	transaction	NOUN
fsr-3845	21	32	costs	cost	NOUN
fsr-3845	21	33	.	.	PUNCT
fsr-3845	22	1	consistent	consistent	ADJ
fsr-3845	22	2	with	with	ADP
fsr-3845	22	3	the	the	DET
fsr-3845	22	4	findings	finding	NOUN
fsr-3845	22	5	of	of	ADP
fsr-3845	22	6	carhart	carhart	NOUN
fsr-3845	22	7	(	(	PUNCT
fsr-3845	22	8	1997	1997	NUM
fsr-3845	22	9	)	)	PUNCT
fsr-3845	22	10	,	,	PUNCT
fsr-3845	22	11	daniel	daniel	PROPN
fsr-3845	22	12	,	,	PUNCT
fsr-3845	22	13	grinblatt	grinblatt	PROPN
fsr-3845	22	14	,	,	PUNCT
fsr-3845	22	15	titman	titman	NOUN
fsr-3845	22	16	,	,	PUNCT
fsr-3845	22	17	and	and	CCONJ
fsr-3845	22	18	wermers	wermer	NOUN
fsr-3845	22	19	(	(	PUNCT
fsr-3845	22	20	1997	1997	NUM
fsr-3845	22	21	)	)	PUNCT
fsr-3845	22	22	conclude	conclude	VERB
fsr-3845	22	23	that	that	SCONJ
fsr-3845	22	24	actively	actively	ADV
fsr-3845	22	25	-	-	PUNCT
fsr-3845	22	26	managed	manage	VERB
fsr-3845	22	27	mutual	mutual	ADJ
fsr-3845	22	28	funds	fund	NOUN
fsr-3845	22	29	beat	beat	VERB
fsr-3845	22	30	mechanical	mechanical	ADJ
fsr-3845	22	31	trading	trading	NOUN
fsr-3845	22	32	rules	rule	NOUN
fsr-3845	22	33	based	base	VERB
fsr-3845	22	34	on	on	ADP
fsr-3845	22	35	persistence-	persistence-	ADJ
fsr-3845	22	36	but	but	CCONJ
fsr-3845	22	37	only	only	ADV
fsr-3845	22	38	by	by	ADP
fsr-3845	22	39	an	an	DET
fsr-3845	22	40	amount	amount	NOUN
fsr-3845	22	41	equal	equal	ADJ
fsr-3845	22	42	to	to	ADP
fsr-3845	22	43	the	the	DET
fsr-3845	22	44	average	average	ADJ
fsr-3845	22	45	management	management	NOUN
fsr-3845	22	46	fee	fee	NOUN
fsr-3845	22	47	.	.	PUNCT
fsr-3845	23	1	malkiel	malkiel	PROPN
fsr-3845	23	2	(	(	PUNCT
fsr-3845	23	3	1995	1995	NUM
fsr-3845	23	4	)	)	PUNCT
fsr-3845	23	5	reports	report	VERB
fsr-3845	23	6	that	that	SCONJ
fsr-3845	23	7	survivorship	survivorship	NOUN
fsr-3845	23	8	bias	bias	NOUN
fsr-3845	23	9	accounts	account	VERB
fsr-3845	23	10	for	for	ADP
fsr-3845	23	11	a	a	DET
fsr-3845	23	12	significant	significant	ADJ
fsr-3845	23	13	amount	amount	NOUN
fsr-3845	23	14	of	of	ADP
fsr-3845	23	15	performance	performance	NOUN
fsr-3845	23	16	persistence	persistence	NOUN
fsr-3845	23	17	,	,	PUNCT
fsr-3845	23	18	which	which	PRON
fsr-3845	23	19	implies	imply	VERB
fsr-3845	23	20	that	that	SCONJ
fsr-3845	23	21	the	the	DET
fsr-3845	23	22	returns	return	NOUN
fsr-3845	23	23	to	to	ADP
fsr-3845	23	24	persistence	persistence	NOUN
fsr-3845	23	25	-	-	PUNCT
fsr-3845	23	26	based	base	VERB
fsr-3845	23	27	investment	investment	NOUN
fsr-3845	23	28	strategies	strategy	NOUN
fsr-3845	23	29	may	may	AUX
fsr-3845	23	30	be	be	AUX
fsr-3845	23	31	overstated	overstate	VERB
fsr-3845	23	32	.	.	PUNCT
fsr-3845	24	1	golec	golec	NOUN
fsr-3845	24	2	(	(	PUNCT
fsr-3845	24	3	1996	1996	NUM
fsr-3845	24	4	)	)	PUNCT
fsr-3845	24	5	finds	find	VERB
fsr-3845	24	6	a	a	DET
fsr-3845	24	7	relation	relation	NOUN
fsr-3845	24	8	between	between	ADP
fsr-3845	24	9	mutual	mutual	ADJ
fsr-3845	24	10	fund	fund	NOUN
fsr-3845	24	11	performance	performance	NOUN
fsr-3845	24	12	,	,	PUNCT
fsr-3845	24	13	risk	risk	NOUN
fsr-3845	24	14	,	,	PUNCT
fsr-3845	24	15	and	and	CCONJ
fsr-3845	24	16	fees	fee	NOUN
fsr-3845	24	17	and	and	CCONJ
fsr-3845	24	18	fund	fund	NOUN
fsr-3845	24	19	manager	manager	NOUN
fsr-3845	24	20	characteristics	characteristic	NOUN
fsr-3845	24	21	such	such	ADJ
fsr-3845	24	22	as	as	ADP
fsr-3845	24	23	age	age	NOUN
fsr-3845	24	24	,	,	PUNCT
fsr-3845	24	25	level	level	NOUN
fsr-3845	24	26	of	of	ADP
fsr-3845	24	27	education	education	NOUN
fsr-3845	24	28	,	,	PUNCT
fsr-3845	24	29	and	and	CCONJ
fsr-3845	24	30	length	length	NOUN
fsr-3845	24	31	of	of	ADP
fsr-3845	24	32	tenure	tenure	NOUN
fsr-3845	24	33	with	with	ADP
fsr-3845	24	34	the	the	DET
fsr-3845	24	35	fund	fund	NOUN
fsr-3845	24	36	.	.	PUNCT
fsr-3845	25	1	porter	porter	NOUN
fsr-3845	25	2	and	and	CCONJ
fsr-3845	25	3	trifts	trift	NOUN
fsr-3845	25	4	(	(	PUNCT
fsr-3845	25	5	1998	1998	NUM
fsr-3845	25	6	)	)	PUNCT
fsr-3845	25	7	study	study	VERB
fsr-3845	25	8	the	the	DET
fsr-3845	25	9	performance	performance	NOUN
fsr-3845	25	10	of	of	ADP
fsr-3845	25	11	fund	fund	NOUN
fsr-3845	25	12	managers	manager	NOUN
fsr-3845	25	13	who	who	PRON
fsr-3845	25	14	manage	manage	VERB
fsr-3845	25	15	the	the	DET
fsr-3845	25	16	same	same	ADJ
fsr-3845	25	17	fund	fund	NOUN
fsr-3845	25	18	for	for	ADP
fsr-3845	25	19	at	at	ADV
fsr-3845	25	20	least	least	ADJ
fsr-3845	25	21	ten	ten	NUM
fsr-3845	25	22	years	year	NOUN
fsr-3845	25	23	.	.	PUNCT
fsr-3845	26	1	they	they	PRON
fsr-3845	26	2	present	present	VERB
fsr-3845	26	3	evidence	evidence	NOUN
fsr-3845	26	4	that	that	SCONJ
fsr-3845	26	5	inferior	inferior	ADJ
fsr-3845	26	6	performance	performance	NOUN
fsr-3845	26	7	is	be	AUX
fsr-3845	26	8	more	more	ADV
fsr-3845	26	9	likely	likely	ADJ
fsr-3845	26	10	to	to	PART
fsr-3845	26	11	persist	persist	VERB
fsr-3845	26	12	than	than	ADP
fsr-3845	26	13	superior	superior	ADJ
fsr-3845	26	14	performance	performance	NOUN
fsr-3845	26	15	.	.	PUNCT
fsr-3845	27	1	a	a	DET
fsr-3845	27	2	considerable	considerable	ADJ
fsr-3845	27	3	body	body	NOUN
fsr-3845	27	4	of	of	ADP
fsr-3845	27	5	research	research	NOUN
fsr-3845	27	6	suggests	suggest	VERB
fsr-3845	27	7	that	that	SCONJ
fsr-3845	27	8	the	the	DET
fsr-3845	27	9	cross	cross	ADJ
fsr-3845	27	10	-	-	ADJ
fsr-3845	27	11	sectional	sectional	ADJ
fsr-3845	27	12	pattern	pattern	NOUN
fsr-3845	27	13	of	of	ADP
fsr-3845	27	14	stock	stock	NOUN
fsr-3845	27	15	returns	return	NOUN
fsr-3845	27	16	can	can	AUX
fsr-3845	27	17	be	be	AUX
fsr-3845	27	18	explained	explain	VERB
fsr-3845	27	19	by	by	ADP
fsr-3845	27	20	characteristics	characteristic	NOUN
fsr-3845	27	21	such	such	ADJ
fsr-3845	27	22	as	as	ADP
fsr-3845	27	23	finn	finn	PROPN
fsr-3845	27	24	size	size	NOUN
fsr-3845	27	25	,	,	PUNCT
fsr-3845	27	26	past	past	ADJ
fsr-3845	27	27	returns	return	NOUN
fsr-3845	27	28	,	,	PUNCT
fsr-3845	27	29	earnings	earning	NOUN
fsr-3845	27	30	-	-	PUNCT
fsr-3845	27	31	to	to	ADP
fsr-3845	27	32	-	-	PUNCT
fsr-3845	27	33	price	price	NOUN
fsr-3845	27	34	ratios	ratio	NOUN
fsr-3845	27	35	,	,	PUNCT
fsr-3845	27	36	and	and	CCONJ
fsr-3845	27	37	book	book	NOUN
fsr-3845	27	38	-	-	PUNCT
fsr-3845	27	39	to	to	ADP
fsr-3845	27	40	-	-	PUNCT
fsr-3845	27	41	market	market	NOUN
fsr-3845	27	42	ratios	ratio	NOUN
fsr-3845	27	43	.	.	PUNCT
fsr-3845	28	1	examining	examine	VERB
fsr-3845	28	2	the	the	DET
fsr-3845	28	3	effect	effect	NOUN
fsr-3845	28	4	of	of	ADP
fsr-3845	28	5	these	these	DET
fsr-3845	28	6	variables	variable	NOUN
fsr-3845	28	7	in	in	ADP
fsr-3845	28	8	an	an	DET
fsr-3845	28	9	integrated	integrate	VERB
fsr-3845	28	10	framework	framework	NOUN
fsr-3845	28	11	,	,	PUNCT
fsr-3845	28	12	fama	fama	PROPN
fsr-3845	28	13	and	and	CCONJ
fsr-3845	28	14	french	french	ADJ
fsr-3845	28	15	(	(	PUNCT
fsr-3845	28	16	1992	1992	NUM
fsr-3845	28	17	,	,	PUNCT
fsr-3845	28	18	1995	1995	NUM
fsr-3845	28	19	,	,	PUNCT
fsr-3845	28	20	1996	1996	NUM
fsr-3845	28	21	)	)	PUNCT
fsr-3845	28	22	conclude	conclude	VERB
fsr-3845	28	23	that	that	SCONJ
fsr-3845	28	24	the	the	DET
fsr-3845	28	25	cross	cross	ADJ
fsr-3845	28	26	-	-	ADJ
fsr-3845	28	27	sectional	sectional	ADJ
fsr-3845	28	28	varia	varia	NOUN
fsr-3845	28	29	tion	tion	NOUN
fsr-3845	28	30	in	in	ADP
fsr-3845	28	31	expected	expect	VERB
fsr-3845	28	32	returns	return	NOUN
fsr-3845	28	33	can	can	AUX
fsr-3845	28	34	be	be	AUX
fsr-3845	28	35	largely	largely	ADV
fsr-3845	28	36	explained	explain	VERB
fsr-3845	28	37	by	by	ADP
fsr-3845	28	38	only	only	ADV
fsr-3845	28	39	two	two	NUM
fsr-3845	28	40	of	of	ADP
fsr-3845	28	41	these	these	DET
fsr-3845	28	42	characteristics	characteristic	NOUN
fsr-3845	28	43	,	,	PUNCT
fsr-3845	28	44	size	size	NOUN
fsr-3845	28	45	and	and	CCONJ
fsr-3845	28	46	book	book	NOUN
fsr-3845	28	47	-	-	PUNCT
fsr-3845	28	48	to	to	ADP
fsr-3845	28	49	-	-	PUNCT
fsr-3845	28	50	market	market	NOUN
fsr-3845	28	51	equity	equity	NOUN
fsr-3845	28	52	.	.	PUNCT
fsr-3845	29	1	a	a	DET
fsr-3845	29	2	mutual	mutual	ADJ
fsr-3845	29	3	fund	fund	NOUN
fsr-3845	29	4	's	's	PART
fsr-3845	29	5	investment	investment	NOUN
fsr-3845	29	6	policy	policy	NOUN
fsr-3845	29	7	will	will	AUX
fsr-3845	29	8	tend	tend	VERB
fsr-3845	29	9	to	to	PART
fsr-3845	29	10	favor	favor	VERB
fsr-3845	29	11	stocks	stock	NOUN
fsr-3845	29	12	of	of	ADP
fsr-3845	29	13	a	a	DET
fsr-3845	29	14	particular	particular	ADJ
fsr-3845	29	15	size	size	NOUN
fsr-3845	29	16	and	and	CCONJ
fsr-3845	29	17	style	style	NOUN
fsr-3845	29	18	class	class	NOUN
fsr-3845	29	19	(	(	PUNCT
fsr-3845	29	20	e.g.	e.g.	ADV
fsr-3845	29	21	,	,	PUNCT
fsr-3845	29	22	small	small	ADJ
fsr-3845	29	23	-	-	PUNCT
fsr-3845	29	24	capitalization	capitalization	NOUN
fsr-3845	29	25	value	value	NOUN
fsr-3845	29	26	stocks	stock	NOUN
fsr-3845	29	27	or	or	CCONJ
fsr-3845	29	28	large	large	ADJ
fsr-3845	29	29	-	-	PUNCT
fsr-3845	29	30	capitalization	capitalization	NOUN
fsr-3845	29	31	growth	growth	NOUN
fsr-3845	29	32	stocks	stock	NOUN
fsr-3845	29	33	)	)	PUNCT
fsr-3845	29	34	.	.	PUNCT
fsr-3845	30	1	if	if	SCONJ
fsr-3845	30	2	the	the	DET
fsr-3845	30	3	cross	cross	ADJ
fsr-3845	30	4	-	-	ADJ
fsr-3845	30	5	sectional	sectional	ADJ
fsr-3845	30	6	returns	return	NOUN
fsr-3845	30	7	of	of	ADP
fsr-3845	30	8	individual	individual	ADJ
fsr-3845	30	9	stocks	stock	NOUN
fsr-3845	30	10	can	can	AUX
fsr-3845	30	11	be	be	AUX
fsr-3845	30	12	explained	explain	VERB
fsr-3845	30	13	by	by	ADP
fsr-3845	30	14	characteristics	characteristic	NOUN
fsr-3845	30	15	such	such	ADJ
fsr-3845	30	16	as	as	ADP
fsr-3845	30	17	firm	firm	ADJ
fsr-3845	30	18	size	size	NOUN
fsr-3845	30	19	and	and	CCONJ
fsr-3845	30	20	book	book	NOUN
fsr-3845	30	21	-	-	PUNCT
fsr-3845	30	22	to	to	ADP
fsr-3845	30	23	-	-	PUNCT
fsr-3845	30	24	market	market	NOUN
fsr-3845	30	25	equity	equity	NOUN
fsr-3845	30	26	,	,	PUNCT
fsr-3845	30	27	it	it	PRON
fsr-3845	30	28	is	be	AUX
fsr-3845	30	29	reasonable	reasonable	ADJ
fsr-3845	30	30	to	to	PART
fsr-3845	30	31	expect	expect	VERB
fsr-3845	30	32	that	that	SCONJ
fsr-3845	30	33	mutual	mutual	ADJ
fsr-3845	30	34	fund	fund	NOUN
fsr-3845	30	35	returns	return	NOUN
fsr-3845	30	36	can	can	AUX
fsr-3845	30	37	also	also	ADV
fsr-3845	30	38	be	be	AUX
fsr-3845	30	39	modeled	model	VERB
fsr-3845	30	40	in	in	ADP
fsr-3845	30	41	a	a	DET
fsr-3845	30	42	similar	similar	ADJ
fsr-3845	30	43	manner	manner	NOUN
fsr-3845	30	44	.	.	PUNCT
fsr-3845	31	1	in	in	ADP
fsr-3845	31	2	this	this	DET
fsr-3845	31	3	study	study	NOUN
fsr-3845	31	4	,	,	PUNCT
fsr-3845	31	5	size	size	NOUN
fsr-3845	31	6	and	and	CCONJ
fsr-3845	31	7	style	style	NOUN
fsr-3845	31	8	characteristics	characteristic	NOUN
fsr-3845	31	9	are	be	AUX
fsr-3845	31	10	repre	repre	ADJ
fsr-3845	31	11	sented	sente	VERB
fsr-3845	31	12	by	by	ADP
fsr-3845	31	13	market	market	NOUN
fsr-3845	31	14	capitalization	capitalization	NOUN
fsr-3845	31	15	,	,	PUNCT
fsr-3845	31	16	the	the	DET
fsr-3845	31	17	ratio	ratio	NOUN
fsr-3845	31	18	of	of	ADP
fsr-3845	31	19	book	book	NOUN
fsr-3845	31	20	-	-	PUNCT
fsr-3845	31	21	to	to	ADP
fsr-3845	31	22	-	-	PUNCT
fsr-3845	31	23	market	market	NOUN
fsr-3845	31	24	equity	equity	NOUN
fsr-3845	31	25	,	,	PUNCT
fsr-3845	31	26	the	the	DET
fsr-3845	31	27	ratio	ratio	NOUN
fsr-3845	31	28	of	of	ADP
fsr-3845	31	29	earnings	earning	NOUN
fsr-3845	31	30	-	-	PUNCT
fsr-3845	31	31	to	to	ADP
fsr-3845	31	32	market	market	NOUN
fsr-3845	31	33	equity	equity	NOUN
fsr-3845	31	34	(	(	PUNCT
fsr-3845	31	35	earnings	earning	NOUN
fsr-3845	31	36	yield	yield	NOUN
fsr-3845	31	37	)	)	PUNCT
fsr-3845	31	38	,	,	PUNCT
fsr-3845	31	39	and	and	CCONJ
fsr-3845	31	40	the	the	DET
fsr-3845	31	41	ratio	ratio	NOUN
fsr-3845	31	42	of	of	ADP
fsr-3845	31	43	cash	cash	NOUN
fsr-3845	31	44	flow	flow	NOUN
fsr-3845	31	45	-	-	PUNCT
fsr-3845	31	46	to	to	ADP
fsr-3845	31	47	-	-	PUNCT
fsr-3845	31	48	market	market	NOUN
fsr-3845	31	49	equity	equity	NOUN
fsr-3845	31	50	(	(	PUNCT
fsr-3845	31	51	cash	cash	NOUN
fsr-3845	31	52	flow	flow	NOUN
fsr-3845	31	53	yield	yield	NOUN
fsr-3845	31	54	)	)	PUNCT
fsr-3845	31	55	.	.	PUNCT
fsr-3845	32	1	research	research	NOUN
fsr-3845	32	2	indicates	indicate	VERB
fsr-3845	32	3	that	that	SCONJ
fsr-3845	32	4	mutual	mutual	ADJ
fsr-3845	32	5	funds	fund	NOUN
fsr-3845	32	6	tend	tend	VERB
fsr-3845	32	7	to	to	PART
fsr-3845	32	8	maintain	maintain	VERB
fsr-3845	32	9	their	their	PRON
fsr-3845	32	10	investment	investment	NOUN
fsr-3845	32	11	strategies	strategy	NOUN
fsr-3845	32	12	over	over	ADP
fsr-3845	32	13	long	long	ADJ
fsr-3845	32	14	periods	period	NOUN
fsr-3845	32	15	of	of	ADP
fsr-3845	32	16	time	time	NOUN
fsr-3845	32	17	(	(	PUNCT
fsr-3845	32	18	malkiel	malkiel	ADJ
fsr-3845	32	19	,	,	PUNCT
fsr-3845	32	20	1995	1995	NUM
fsr-3845	32	21	)	)	PUNCT
fsr-3845	32	22	.	.	PUNCT
fsr-3845	33	1	consequently	consequently	ADV
fsr-3845	33	2	,	,	PUNCT
fsr-3845	33	3	mutual	mutual	ADJ
fsr-3845	33	4	fund	fund	NOUN
fsr-3845	33	5	performance	performance	NOUN
fsr-3845	33	6	will	will	AUX
fsr-3845	33	7	corre	corre	VERB
fsr-3845	33	8	spond	spond	VERB
fsr-3845	33	9	to	to	ADP
fsr-3845	33	10	the	the	DET
fsr-3845	33	11	performance	performance	NOUN
fsr-3845	33	12	trends	trend	NOUN
fsr-3845	33	13	of	of	ADP
fsr-3845	33	14	the	the	DET
fsr-3845	33	15	size	size	NOUN
fsr-3845	33	16	and	and	CCONJ
fsr-3845	33	17	style	style	NOUN
fsr-3845	33	18	classes	class	NOUN
fsr-3845	33	19	in	in	ADP
fsr-3845	33	20	which	which	PRON
fsr-3845	33	21	funds	fund	NOUN
fsr-3845	33	22	invest	invest	VERB
fsr-3845	33	23	.	.	PUNCT
fsr-3845	34	1	if	if	SCONJ
fsr-3845	34	2	there	there	PRON
fsr-3845	34	3	are	be	VERB
fsr-3845	34	4	periods	period	NOUN
fsr-3845	34	5	when	when	SCONJ
fsr-3845	34	6	small	small	ADJ
fsr-3845	34	7	stocks	stock	NOUN
fsr-3845	34	8	tend	tend	VERB
fsr-3845	34	9	to	to	PART
fsr-3845	34	10	outperform	outperform	VERB
fsr-3845	34	11	large	large	ADJ
fsr-3845	34	12	stocks	stock	NOUN
fsr-3845	34	13	,	,	PUNCT
fsr-3845	34	14	or	or	CCONJ
fsr-3845	34	15	value	value	NOUN
fsr-3845	34	16	stocks	stock	NOUN
fsr-3845	34	17	outperform	outperform	VERB
fsr-3845	34	18	growth	growth	NOUN
fsr-3845	34	19	stocks	stock	NOUN
fsr-3845	34	20	,	,	PUNCT
fsr-3845	34	21	then	then	ADV
fsr-3845	34	22	persistence	persistence	NOUN
fsr-3845	34	23	in	in	ADP
fsr-3845	34	24	stock	stock	NOUN
fsr-3845	34	25	mutual	mutual	ADJ
fsr-3845	34	26	fund	fund	NOUN
fsr-3845	34	27	returns	return	NOUN
fsr-3845	34	28	could	could	AUX
fsr-3845	34	29	be	be	AUX
fsr-3845	34	30	due	due	ADJ
fsr-3845	34	31	to	to	ADP
fsr-3845	34	32	trends	trend	NOUN
fsr-3845	34	33	in	in	ADP
fsr-3845	34	34	these	these	DET
fsr-3845	34	35	underlying	underlying	ADJ
fsr-3845	34	36	factors	factor	NOUN
fsr-3845	34	37	.	.	PUNCT
fsr-3845	35	1	this	this	PRON
fsr-3845	35	2	is	be	AUX
fsr-3845	35	3	the	the	DET
fsr-3845	35	4	basis	basis	NOUN
fsr-3845	35	5	of	of	ADP
fsr-3845	35	6	the	the	DET
fsr-3845	35	7	hypothesis	hypothesis	NOUN
fsr-3845	35	8	tested	test	VERB
fsr-3845	35	9	:	:	PUNCT
fsr-3845	35	10	hi	hi	INTJ
fsr-3845	35	11	:	:	PUNCT
fsr-3845	35	12	mutual	mutual	ADJ
fsr-3845	35	13	fund	fund	NOUN
fsr-3845	35	14	returns	return	NOUN
fsr-3845	35	15	that	that	PRON
fsr-3845	35	16	have	have	AUX
fsr-3845	35	17	been	be	AUX
fsr-3845	35	18	adjusted	adjust	VERB
fsr-3845	35	19	for	for	ADP
fsr-3845	35	20	size	size	NOUN
fsr-3845	35	21	and	and	CCONJ
fsr-3845	35	22	style	style	NOUN
fsr-3845	35	23	character	character	NOUN
fsr-3845	35	24	istics	istic	NOUN
fsr-3845	35	25	,	,	PUNCT
fsr-3845	35	26	as	as	ADV
fsr-3845	35	27	well	well	ADV
fsr-3845	35	28	as	as	ADP
fsr-3845	35	29	market	market	NOUN
fsr-3845	35	30	risk	risk	NOUN
fsr-3845	35	31	and	and	CCONJ
fsr-3845	35	32	expense	expense	NOUN
fsr-3845	35	33	ratios	ratio	NOUN
fsr-3845	35	34	,	,	PUNCT
fsr-3845	35	35	will	will	AUX
fsr-3845	35	36	display	display	VERB
fsr-3845	35	37	no	no	DET
fsr-3845	35	38	serial	serial	ADJ
fsr-3845	35	39	correlation	correlation	NOUN
fsr-3845	35	40	.	.	PUNCT
fsr-3845	36	1	explaining	explain	VERB
fsr-3845	36	2	persistence	persistence	NOUN
fsr-3845	36	3	47	47	NUM
fsr-3845	36	4	previous	previous	ADJ
fsr-3845	36	5	studies	study	NOUN
fsr-3845	36	6	conclude	conclude	VERB
fsr-3845	36	7	that	that	SCONJ
fsr-3845	36	8	persistence	persistence	NOUN
fsr-3845	36	9	in	in	ADP
fsr-3845	36	10	mutual	mutual	ADJ
fsr-3845	36	11	fund	fund	NOUN
fsr-3845	36	12	returns	return	NOUN
fsr-3845	36	13	can	can	AUX
fsr-3845	36	14	not	not	PART
fsr-3845	36	15	be	be	AUX
fsr-3845	36	16	fully	fully	ADV
fsr-3845	36	17	explained	explain	VERB
fsr-3845	36	18	by	by	ADP
fsr-3845	36	19	fund	fund	NOUN
fsr-3845	36	20	characteristics	characteristic	NOUN
fsr-3845	36	21	such	such	ADJ
fsr-3845	36	22	as	as	ADP
fsr-3845	36	23	recent	recent	ADJ
fsr-3845	36	24	relative	relative	ADJ
fsr-3845	36	25	performance	performance	NOUN
fsr-3845	36	26	,	,	PUNCT
fsr-3845	36	27	firm	firm	ADJ
fsr-3845	36	28	size	size	NOUN
fsr-3845	36	29	,	,	PUNCT
fsr-3845	36	30	and	and	CCONJ
fsr-3845	36	31	book	book	NOUN
fsr-3845	36	32	to	to	ADP
fsr-3845	36	33	-	-	PUNCT
fsr-3845	36	34	market	market	NOUN
fsr-3845	36	35	equity	equity	NOUN
fsr-3845	36	36	(	(	PUNCT
fsr-3845	36	37	carhart	carhart	NOUN
fsr-3845	36	38	,	,	PUNCT
fsr-3845	36	39	1997	1997	NUM
fsr-3845	36	40	,	,	PUNCT
fsr-3845	36	41	daniel	daniel	PROPN
fsr-3845	36	42	et	et	PROPN
fsr-3845	36	43	al	al	PROPN
fsr-3845	36	44	.	.	PROPN
fsr-3845	36	45	,	,	PUNCT
fsr-3845	36	46	1997	1997	NUM
fsr-3845	36	47	;	;	PUNCT
fsr-3845	36	48	gruber	gruber	PROPN
fsr-3845	36	49	,	,	PUNCT
fsr-3845	36	50	1996	1996	NUM
fsr-3845	36	51	;	;	PUNCT
fsr-3845	36	52	and	and	CCONJ
fsr-3845	36	53	hendricks	hendrick	NOUN
fsr-3845	36	54	,	,	PUNCT
fsr-3845	36	55	patel	patel	NOUN
fsr-3845	36	56	,	,	PUNCT
fsr-3845	36	57	&	&	CCONJ
fsr-3845	36	58	zeckhauser	zeckhauser	NOUN
fsr-3845	36	59	,	,	PUNCT
fsr-3845	36	60	1993	1993	NUM
fsr-3845	36	61	)	)	PUNCT
fsr-3845	36	62	.	.	PUNCT
fsr-3845	37	1	recent	recent	ADJ
fsr-3845	37	2	research	research	NOUN
fsr-3845	37	3	suggests	suggest	VERB
fsr-3845	37	4	that	that	SCONJ
fsr-3845	37	5	these	these	DET
fsr-3845	37	6	findings	finding	NOUN
fsr-3845	37	7	may	may	AUX
fsr-3845	37	8	be	be	AUX
fsr-3845	37	9	due	due	ADJ
fsr-3845	37	10	to	to	ADP
fsr-3845	37	11	the	the	DET
fsr-3845	37	12	use	use	NOUN
fsr-3845	37	13	of	of	ADP
fsr-3845	37	14	factor	factor	NOUN
fsr-3845	37	15	-	-	PUNCT
fsr-3845	37	16	mimicking	mimic	VERB
fsr-3845	37	17	portfolios	portfolio	NOUN
fsr-3845	37	18	that	that	PRON
fsr-3845	37	19	are	be	AUX
fsr-3845	37	20	constructed	construct	VERB
fsr-3845	37	21	to	to	PART
fsr-3845	37	22	match	match	VERB
fsr-3845	37	23	the	the	DET
fsr-3845	37	24	characteristics	characteristic	NOUN
fsr-3845	37	25	of	of	ADP
fsr-3845	37	26	the	the	DET
fsr-3845	37	27	stocks	stock	NOUN
fsr-3845	37	28	held	hold	VERB
fsr-3845	37	29	by	by	ADP
fsr-3845	37	30	a	a	DET
fsr-3845	37	31	mutual	mutual	ADJ
fsr-3845	37	32	fund	fund	NOUN
fsr-3845	37	33	.	.	PUNCT
fsr-3845	38	1	daniel	daniel	PROPN
fsr-3845	38	2	and	and	CCONJ
fsr-3845	38	3	titman	titman	PROPN
fsr-3845	38	4	(	(	PUNCT
fsr-3845	38	5	1997	1997	NUM
fsr-3845	38	6	)	)	PUNCT
fsr-3845	38	7	report	report	NOUN
fsr-3845	38	8	that	that	SCONJ
fsr-3845	38	9	firms	firm	NOUN
fsr-3845	38	10	'	'	PART
fsr-3845	38	11	actual	actual	ADJ
fsr-3845	38	12	size	size	NOUN
fsr-3845	38	13	and	and	CCONJ
fsr-3845	38	14	book	book	NOUN
fsr-3845	38	15	to	to	ADP
fsr-3845	38	16	-	-	PUNCT
fsr-3845	38	17	market	market	NOUN
fsr-3845	38	18	equity	equity	NOUN
fsr-3845	38	19	contain	contain	VERB
fsr-3845	38	20	more	more	ADV
fsr-3845	38	21	explanatory	explanatory	ADJ
fsr-3845	38	22	power	power	NOUN
fsr-3845	38	23	than	than	ADP
fsr-3845	38	24	time	time	NOUN
fsr-3845	38	25	-	-	PUNCT
fsr-3845	38	26	series	series	NOUN
fsr-3845	38	27	estimates	estimate	NOUN
fsr-3845	38	28	of	of	ADP
fsr-3845	38	29	loadings	loading	NOUN
fsr-3845	38	30	on	on	ADP
fsr-3845	38	31	factor	factor	NOUN
fsr-3845	38	32	-	-	PUNCT
fsr-3845	38	33	mimicking	mimic	VERB
fsr-3845	38	34	portfolios	portfolio	NOUN
fsr-3845	38	35	.	.	PUNCT
fsr-3845	39	1	this	this	DET
fsr-3845	39	2	study	study	NOUN
fsr-3845	39	3	employs	employ	VERB
fsr-3845	39	4	a	a	DET
fsr-3845	39	5	model	model	NOUN
fsr-3845	39	6	that	that	PRON
fsr-3845	39	7	directly	directly	ADV
fsr-3845	39	8	relates	relate	VERB
fsr-3845	39	9	mutual	mutual	ADJ
fsr-3845	39	10	fund	fund	NOUN
fsr-3845	39	11	returns	return	NOUN
fsr-3845	39	12	to	to	ADP
fsr-3845	39	13	the	the	DET
fsr-3845	39	14	characteristics	characteristic	NOUN
fsr-3845	39	15	of	of	ADP
fsr-3845	39	16	the	the	DET
fsr-3845	39	17	stocks	stock	NOUN
fsr-3845	39	18	held	hold	VERB
fsr-3845	39	19	by	by	ADP
fsr-3845	39	20	funds	fund	NOUN
fsr-3845	39	21	.	.	PUNCT
fsr-3845	40	1	consistent	consistent	ADJ
fsr-3845	40	2	with	with	ADP
fsr-3845	40	3	the	the	DET
fsr-3845	40	4	results	result	NOUN
fsr-3845	40	5	reported	report	VERB
fsr-3845	40	6	by	by	ADP
fsr-3845	40	7	previous	previous	ADJ
fsr-3845	40	8	researchers	researcher	NOUN
fsr-3845	40	9	,	,	PUNCT
fsr-3845	40	10	unadjusted	unadjuste	VERB
fsr-3845	40	11	mutual	mutual	ADJ
fsr-3845	40	12	fund	fund	NOUN
fsr-3845	40	13	returns	return	NOUN
fsr-3845	40	14	display	display	VERB
fsr-3845	40	15	significant	significant	ADJ
fsr-3845	40	16	persistence	persistence	NOUN
fsr-3845	40	17	,	,	PUNCT
fsr-3845	40	18	as	as	SCONJ
fsr-3845	40	19	do	do	VERB
fsr-3845	40	20	fund	fund	NOUN
fsr-3845	40	21	returns	return	NOUN
fsr-3845	40	22	that	that	PRON
fsr-3845	40	23	have	have	AUX
fsr-3845	40	24	been	be	AUX
fsr-3845	40	25	adjusted	adjust	VERB
fsr-3845	40	26	for	for	ADP
fsr-3845	40	27	market	market	NOUN
fsr-3845	40	28	risk	risk	NOUN
fsr-3845	40	29	and	and	CCONJ
fsr-3845	40	30	expense	expense	NOUN
fsr-3845	40	31	ratios	ratio	NOUN
fsr-3845	40	32	.	.	PUNCT
fsr-3845	41	1	however	however	ADV
fsr-3845	41	2	,	,	PUNCT
fsr-3845	41	3	accounting	account	VERB
fsr-3845	41	4	for	for	ADP
fsr-3845	41	5	firm	firm	ADJ
fsr-3845	41	6	size	size	NOUN
fsr-3845	41	7	and	and	CCONJ
fsr-3845	41	8	fund	fund	NOUN
fsr-3845	41	9	manager	manager	NOUN
fsr-3845	41	10	investment	investment	NOUN
fsr-3845	41	11	styles	style	NOUN
fsr-3845	41	12	explains	explain	VERB
fsr-3845	41	13	all	all	DET
fsr-3845	41	14	the	the	DET
fsr-3845	41	15	persistence	persistence	NOUN
fsr-3845	41	16	in	in	ADP
fsr-3845	41	17	mutual	mutual	ADJ
fsr-3845	41	18	fund	fund	NOUN
fsr-3845	41	19	returns	return	NOUN
fsr-3845	41	20	from	from	ADP
fsr-3845	41	21	1976	1976	NUM
fsr-3845	41	22	-	-	SYM
fsr-3845	41	23	1985	1985	NUM
fsr-3845	41	24	,	,	PUNCT
fsr-3845	41	25	the	the	DET
fsr-3845	41	26	period	period	NOUN
fsr-3845	41	27	in	in	ADP
fsr-3845	41	28	which	which	PRON
fsr-3845	41	29	persistence	persistence	NOUN
fsr-3845	41	30	is	be	AUX
fsr-3845	41	31	most	most	ADV
fsr-3845	41	32	prevalent	prevalent	ADJ
fsr-3845	41	33	.	.	PUNCT
fsr-3845	42	1	ii	ii	PROPN
fsr-3845	42	2	.	.	PUNCT
fsr-3845	43	1	data	datum	NOUN
fsr-3845	43	2	and	and	CCONJ
fsr-3845	43	3	methodology	methodology	NOUN
fsr-3845	43	4	the	the	DET
fsr-3845	43	5	sample	sample	NOUN
fsr-3845	43	6	consists	consist	VERB
fsr-3845	43	7	of	of	ADP
fsr-3845	43	8	61	61	NUM
fsr-3845	43	9	open	open	ADJ
fsr-3845	43	10	-	-	PUNCT
fsr-3845	43	11	end	end	NOUN
fsr-3845	43	12	equity	equity	NOUN
fsr-3845	43	13	mutual	mutual	ADJ
fsr-3845	43	14	funds	fund	NOUN
fsr-3845	43	15	classified	classify	VERB
fsr-3845	43	16	in	in	ADP
fsr-3845	43	17	the	the	DET
fsr-3845	43	18	1975	1975	NUM
fsr-3845	43	19	wiesen	wiesen	NOUN
fsr-3845	43	20	b	b	PROPN
fsr-3845	43	21	e	e	NOUN
fsr-3845	43	22	r	r	NOUN
fsr-3845	43	23	g	g	NOUN
fsr-3845	43	24	e	e	NOUN
fsr-3845	43	25	r	r	NOUN
fsr-3845	43	26	i	i	PRON
fsr-3845	43	27	n	n	ADV
fsr-3845	43	28	v	v	X
fsr-3845	43	29	e	e	NOUN
fsr-3845	43	30	s	s	PROPN
fsr-3845	43	31	t	t	PROPN
fsr-3845	43	32	m	m	PROPN
fsr-3845	43	33	e	e	NOUN
fsr-3845	43	34	n	n	NOUN
fsr-3845	43	35	t	t	NOUN
fsr-3845	44	1	c	c	NOUN
fsr-3845	44	2	o	o	NOUN
fsr-3845	44	3	m	m	VERB
fsr-3845	44	4	p	p	X
fsr-3845	45	1	a	a	PRON
fsr-3845	45	2	n	n	NOUN
fsr-3845	46	1	i	i	NOUN
fsr-3845	46	2	e	e	NOUN
fsr-3845	46	3	s	s	X
fsr-3845	46	4	serv	serv	X
fsr-3845	46	5	ice	ice	NOUN
fsr-3845	46	6	as	as	ADP
fsr-3845	46	7	"	"	PUNCT
fsr-3845	46	8	growth	growth	NOUN
fsr-3845	46	9	"	"	PUNCT
fsr-3845	46	10	or	or	CCONJ
fsr-3845	46	11	"	"	PUNCT
fsr-3845	46	12	growth	growth	NOUN
fsr-3845	46	13	and	and	CCONJ
fsr-3845	46	14	current	current	ADJ
fsr-3845	46	15	income	income	NOUN
fsr-3845	46	16	.	.	PUNCT
fsr-3845	46	17	"	"	PUNCT
fsr-3845	47	1	the	the	DET
fsr-3845	47	2	sample	sample	NOUN
fsr-3845	47	3	was	be	AUX
fsr-3845	47	4	selected	select	VERB
fsr-3845	47	5	at	at	ADP
fsr-3845	47	6	random	random	ADJ
fsr-3845	47	7	from	from	ADP
fsr-3845	47	8	all	all	DET
fsr-3845	47	9	such	such	ADJ
fsr-3845	47	10	funds	fund	NOUN
fsr-3845	47	11	that	that	PRON
fsr-3845	47	12	have	have	VERB
fsr-3845	47	13	returns	return	NOUN
fsr-3845	47	14	data	datum	NOUN
fsr-3845	47	15	reported	report	VERB
fsr-3845	47	16	in	in	ADP
fsr-3845	47	17	the	the	DET
fsr-3845	47	18	1975	1975	NUM
fsr-3845	47	19	wiesenberger	wiesenberger	NOUN
fsr-3845	47	20	.	.	PUNCT
fsr-3845	48	1	t	t	PROPN
fsr-3845	48	2	h	h	NOUN
fsr-3845	48	3	e	e	PROPN
fsr-3845	48	4	population	population	NOUN
fsr-3845	48	5	of"general	of"general	PROPN
fsr-3845	48	6	equity	equity	NOUN
fsr-3845	48	7	"	"	PUNCT
fsr-3845	48	8	funds	fund	NOUN
fsr-3845	48	9	at	at	ADP
fsr-3845	48	10	year	year	NOUN
fsr-3845	48	11	-	-	PUNCT
fsr-3845	48	12	end	end	NOUN
fsr-3845	48	13	1974	1974	NUM
fsr-3845	48	14	totaled	total	VERB
fsr-3845	48	15	230	230	NUM
fsr-3845	48	16	(	(	PUNCT
fsr-3845	48	17	malkiel	malkiel	ADJ
fsr-3845	48	18	,	,	PUNCT
fsr-3845	48	19	1995	1995	NUM
fsr-3845	48	20	)	)	PUNCT
fsr-3845	48	21	.	.	PUNCT
fsr-3845	49	1	six	six	NUM
fsr-3845	49	2	of	of	ADP
fsr-3845	49	3	the	the	DET
fsr-3845	49	4	61	61	NUM
fsr-3845	49	5	funds	fund	NOUN
fsr-3845	49	6	did	do	AUX
fsr-3845	49	7	not	not	PART
fsr-3845	49	8	survive	survive	VERB
fsr-3845	49	9	the	the	DET
fsr-3845	49	10	entire	entire	ADJ
fsr-3845	49	11	sample	sample	NOUN
fsr-3845	49	12	period	period	NOUN
fsr-3845	49	13	because	because	SCONJ
fsr-3845	49	14	they	they	PRON
fsr-3845	49	15	either	either	CCONJ
fsr-3845	49	16	merged	merge	VERB
fsr-3845	49	17	with	with	ADP
fsr-3845	49	18	another	another	DET
fsr-3845	49	19	fund	fund	NOUN
fsr-3845	49	20	or	or	CCONJ
fsr-3845	49	21	were	be	AUX
fsr-3845	49	22	liquidated	liquidate	VERB
fsr-3845	49	23	.	.	PUNCT
fsr-3845	50	1	these	these	DET
fsr-3845	50	2	funds	fund	NOUN
fsr-3845	50	3	are	be	AUX
fsr-3845	50	4	included	include	VERB
fsr-3845	50	5	in	in	ADP
fsr-3845	50	6	the	the	DET
fsr-3845	50	7	sample	sample	NOUN
fsr-3845	50	8	until	until	ADP
fsr-3845	50	9	the	the	DET
fsr-3845	50	10	year	year	NOUN
fsr-3845	50	11	before	before	SCONJ
fsr-3845	50	12	they	they	PRON
fsr-3845	50	13	terminate	terminate	VERB
fsr-3845	50	14	.	.	PUNCT
fsr-3845	51	1	seventy	seventy	NUM
fsr-3845	51	2	-	-	PUNCT
fsr-3845	51	3	two	two	NUM
fsr-3845	51	4	percent	percent	NOUN
fsr-3845	51	5	of	of	ADP
fsr-3845	51	6	the	the	DET
fsr-3845	51	7	funds	fund	NOUN
fsr-3845	51	8	in	in	ADP
fsr-3845	51	9	the	the	DET
fsr-3845	51	10	sample	sample	NOUN
fsr-3845	51	11	charge	charge	VERB
fsr-3845	51	12	an	an	DET
fsr-3845	51	13	up	up	ADJ
fsr-3845	51	14	-	-	PUNCT
fsr-3845	51	15	front	front	NOUN
fsr-3845	51	16	sales	sale	NOUN
fsr-3845	51	17	fee	fee	NOUN
fsr-3845	51	18	or	or	CCONJ
fsr-3845	51	19	"	"	PUNCT
fsr-3845	51	20	load	load	NOUN
fsr-3845	51	21	"	"	PUNCT
fsr-3845	51	22	.	.	PUNCT
fsr-3845	52	1	recent	recent	ADJ
fsr-3845	52	2	research	research	NOUN
fsr-3845	52	3	attempts	attempt	VERB
fsr-3845	52	4	to	to	PART
fsr-3845	52	5	explain	explain	VERB
fsr-3845	52	6	the	the	DET
fsr-3845	52	7	persistence	persistence	NOUN
fsr-3845	52	8	in	in	ADP
fsr-3845	52	9	mutual	mutual	ADJ
fsr-3845	52	10	fund	fund	NOUN
fsr-3845	52	11	performance	performance	NOUN
fsr-3845	52	12	using	use	VERB
fsr-3845	52	13	factor	factor	NOUN
fsr-3845	52	14	models	model	NOUN
fsr-3845	52	15	(	(	PUNCT
fsr-3845	52	16	see	see	VERB
fsr-3845	52	17	carhart	carhart	NOUN
fsr-3845	52	18	,	,	PUNCT
fsr-3845	52	19	1997	1997	NUM
fsr-3845	52	20	and	and	CCONJ
fsr-3845	52	21	gruber	gruber	PROPN
fsr-3845	52	22	,	,	PUNCT
fsr-3845	52	23	1996	1996	NUM
fsr-3845	52	24	)	)	PUNCT
fsr-3845	52	25	or	or	CCONJ
fsr-3845	52	26	benchmark	benchmark	NOUN
fsr-3845	52	27	portfolios	portfolio	NOUN
fsr-3845	52	28	designed	design	VERB
fsr-3845	52	29	to	to	PART
fsr-3845	52	30	mimic	mimic	VERB
fsr-3845	52	31	characteristics	characteristic	NOUN
fsr-3845	52	32	of	of	ADP
fsr-3845	52	33	the	the	DET
fsr-3845	52	34	component	component	NOUN
fsr-3845	52	35	stocks	stock	NOUN
fsr-3845	52	36	held	hold	VERB
fsr-3845	52	37	by	by	ADP
fsr-3845	52	38	funds	fund	NOUN
fsr-3845	52	39	(	(	PUNCT
fsr-3845	52	40	see	see	VERB
fsr-3845	52	41	daniel	daniel	PROPN
fsr-3845	52	42	et	et	PROPN
fsr-3845	52	43	al	al	PROPN
fsr-3845	52	44	.	.	PROPN
fsr-3845	52	45	,	,	PUNCT
fsr-3845	52	46	1997	1997	NUM
fsr-3845	52	47	)	)	PUNCT
fsr-3845	52	48	.	.	PUNCT
fsr-3845	53	1	these	these	DET
fsr-3845	53	2	studies	study	NOUN
fsr-3845	53	3	conclude	conclude	VERB
fsr-3845	53	4	that	that	SCONJ
fsr-3845	53	5	differences	difference	NOUN
fsr-3845	53	6	in	in	ADP
fsr-3845	53	7	beta	beta	NOUN
fsr-3845	53	8	,	,	PUNCT
fsr-3845	53	9	firm	firm	ADJ
fsr-3845	53	10	size	size	NOUN
fsr-3845	53	11	,	,	PUNCT
fsr-3845	53	12	book	book	NOUN
fsr-3845	53	13	-	-	PUNCT
fsr-3845	53	14	to	to	ADP
fsr-3845	53	15	-	-	PUNCT
fsr-3845	53	16	market	market	NOUN
fsr-3845	53	17	equity	equity	NOUN
fsr-3845	53	18	,	,	PUNCT
fsr-3845	53	19	interest	interest	NOUN
fsr-3845	53	20	rates	rate	NOUN
fsr-3845	53	21	,	,	PUNCT
fsr-3845	53	22	and	and	CCONJ
fsr-3845	53	23	prior	prior	ADJ
fsr-3845	53	24	period	period	NOUN
fsr-3845	53	25	performance	performance	NOUN
fsr-3845	53	26	can	can	AUX
fsr-3845	53	27	not	not	PART
fsr-3845	53	28	fully	fully	ADV
fsr-3845	53	29	explain	explain	VERB
fsr-3845	53	30	the	the	DET
fsr-3845	53	31	persistence	persistence	NOUN
fsr-3845	53	32	in	in	ADP
fsr-3845	53	33	mutual	mutual	ADJ
fsr-3845	53	34	fund	fund	NOUN
fsr-3845	53	35	returns	return	NOUN
fsr-3845	53	36	.	.	PUNCT
fsr-3845	54	1	daniel	daniel	PROPN
fsr-3845	54	2	and	and	CCONJ
fsr-3845	54	3	titman	titman	PROPN
fsr-3845	54	4	(	(	PUNCT
fsr-3845	54	5	1997	1997	NUM
fsr-3845	54	6	)	)	PUNCT
fsr-3845	54	7	question	question	NOUN
fsr-3845	54	8	whether	whether	SCONJ
fsr-3845	54	9	factor	factor	NOUN
fsr-3845	54	10	models	model	NOUN
fsr-3845	54	11	adequately	adequately	ADV
fsr-3845	54	12	explain	explain	VERB
fsr-3845	54	13	the	the	DET
fsr-3845	54	14	cross	cross	NOUN
fsr-3845	54	15	-	-	NOUN
fsr-3845	54	16	section	section	NOUN
fsr-3845	54	17	of	of	ADP
fsr-3845	54	18	expected	expect	VERB
fsr-3845	54	19	stock	stock	NOUN
fsr-3845	54	20	returns	return	NOUN
fsr-3845	54	21	.	.	PUNCT
fsr-3845	55	1	after	after	ADP
fsr-3845	55	2	controlling	control	VERB
fsr-3845	55	3	for	for	ADP
fsr-3845	55	4	firm	firm	ADJ
fsr-3845	55	5	characteristics	characteristic	NOUN
fsr-3845	55	6	,	,	PUNCT
fsr-3845	55	7	they	they	PRON
fsr-3845	55	8	find	find	VERB
fsr-3845	55	9	that	that	SCONJ
fsr-3845	55	10	expected	expect	VERB
fsr-3845	55	11	returns	return	NOUN
fsr-3845	55	12	are	be	AUX
fsr-3845	55	13	unrelated	unrelated	ADJ
fsr-3845	55	14	to	to	ADP
fsr-3845	55	15	the	the	DET
fsr-3845	55	16	loadings	loading	NOUN
fsr-3845	55	17	on	on	ADP
fsr-3845	55	18	market	market	NOUN
fsr-3845	55	19	,	,	PUNCT
fsr-3845	55	20	firm	firm	ADJ
fsr-3845	55	21	size	size	NOUN
fsr-3845	55	22	,	,	PUNCT
fsr-3845	55	23	and	and	CCONJ
fsr-3845	55	24	book	book	NOUN
fsr-3845	55	25	-	-	PUNCT
fsr-3845	55	26	to	to	ADP
fsr-3845	55	27	-	-	PUNCT
fsr-3845	55	28	market	market	NOUN
fsr-3845	55	29	equity	equity	NOUN
fsr-3845	55	30	factors	factor	NOUN
fsr-3845	55	31	.	.	PUNCT
fsr-3845	56	1	they	they	PRON
fsr-3845	56	2	conclude	conclude	VERB
fsr-3845	56	3	that	that	SCONJ
fsr-3845	56	4	it	it	PRON
fsr-3845	56	5	is	be	AUX
fsr-3845	56	6	firm	firm	ADJ
fsr-3845	56	7	characteristics	characteristic	NOUN
fsr-3845	56	8	rather	rather	ADV
fsr-3845	56	9	than	than	ADP
fsr-3845	56	10	covariances	covariance	NOUN
fsr-3845	56	11	that	that	PRON
fsr-3845	56	12	determine	determine	VERB
fsr-3845	56	13	expected	expect	VERB
fsr-3845	56	14	returns	return	NOUN
fsr-3845	56	15	.	.	PUNCT
fsr-3845	57	1	based	base	VERB
fsr-3845	57	2	on	on	ADP
fsr-3845	57	3	these	these	DET
fsr-3845	57	4	findings	finding	NOUN
fsr-3845	57	5	,	,	PUNCT
fsr-3845	57	6	a	a	DET
fsr-3845	57	7	model	model	NOUN
fsr-3845	57	8	is	be	AUX
fsr-3845	57	9	developed	develop	VERB
fsr-3845	57	10	that	that	PRON
fsr-3845	57	11	directly	directly	ADV
fsr-3845	57	12	relates	relate	VERB
fsr-3845	57	13	mutual	mutual	ADJ
fsr-3845	57	14	fund	fund	NOUN
fsr-3845	57	15	returns	return	NOUN
fsr-3845	57	16	to	to	ADP
fsr-3845	57	17	the	the	DET
fsr-3845	57	18	characteristics	characteristic	NOUN
fsr-3845	57	19	of	of	ADP
fsr-3845	57	20	the	the	DET
fsr-3845	57	21	stocks	stock	NOUN
fsr-3845	57	22	held	hold	VERB
fsr-3845	57	23	by	by	ADP
fsr-3845	57	24	each	each	DET
fsr-3845	57	25	fund	fund	NOUN
fsr-3845	57	26	.	.	PUNCT
fsr-3845	58	1	the	the	DET
fsr-3845	58	2	model	model	NOUN
fsr-3845	58	3	expresses	express	VERB
fsr-3845	58	4	returns	return	NOUN
fsr-3845	58	5	in	in	ADP
fsr-3845	58	6	year	year	NOUN
fsr-3845	58	7	t	t	NOUN
fsr-3845	58	8	as	as	ADP
fsr-3845	58	9	a	a	DET
fsr-3845	58	10	function	function	NOUN
fsr-3845	58	11	of	of	ADP
fsr-3845	58	12	year	year	NOUN
fsr-3845	58	13	t	t	PROPN
fsr-3845	58	14	1	1	NUM
fsr-3845	58	15	mutual	mutual	ADJ
fsr-3845	58	16	fund	fund	NOUN
fsr-3845	58	17	characteristics	characteristic	NOUN
fsr-3845	58	18	.	.	PUNCT
fsr-3845	59	1	three	three	NUM
fsr-3845	59	2	specifications	specification	NOUN
fsr-3845	59	3	of	of	ADP
fsr-3845	59	4	the	the	DET
fsr-3845	59	5	model	model	NOUN
fsr-3845	59	6	are	be	AUX
fsr-3845	59	7	estimated	estimate	VERB
fsr-3845	59	8	:	:	PUNCT
fsr-3845	60	1	rit	rit	X
fsr-3845	60	2	=	=	SYM
fsr-3845	60	3	~lt	~lt	X
fsr-3845	60	4	+	+	CCONJ
fsr-3845	60	5	(	(	PUNCT
fsr-3845	60	6	~2tbetai	~2tbetai	NUM
fsr-3845	60	7	,	,	PUNCT
fsr-3845	60	8	t	t	PROPN
fsr-3845	60	9	1	1	NUM
fsr-3845	60	10	+	+	CCONJ
fsr-3845	60	11	(	(	PUNCT
fsr-3845	60	12	t3texpi	t3texpi	NUM
fsr-3845	60	13	,	,	PUNCT
fsr-3845	60	14	t	t	NOUN
fsr-3845	60	15	1	1	NUM
fsr-3845	60	16	+	+	CCONJ
fsr-3845	60	17	r~	r~	PROPN
fsr-3845	60	18	rit	rit	NOUN
fsr-3845	60	19	=	=	PUNCT
fsr-3845	60	20	~	~	PUNCT
fsr-3845	60	21	l	l	NOUN
fsr-3845	60	22	t	t	NOUN
fsr-3845	60	23	+	+	CCONJ
fsr-3845	60	24	~j2tbetai	~j2tbetai	NOUN
fsr-3845	60	25	,	,	PUNCT
fsr-3845	60	26	t	t	PROPN
fsr-3845	60	27	1	1	NUM
fsr-3845	60	28	+	+	CCONJ
fsr-3845	60	29	~3texpi	~3texpi	NUM
fsr-3845	60	30	,	,	PUNCT
fsr-3845	60	31	t	t	NOUN
fsr-3845	60	32	1	1	NUM
fsr-3845	60	33	+	+	CCONJ
fsr-3845	60	34	~4tsizei	~4tsizei	NUM
fsr-3845	60	35	,	,	PUNCT
fsr-3845	60	36	t	t	PROPN
fsr-3845	60	37	1	1	NUM
fsr-3845	60	38	+	+	CCONJ
fsr-3845	60	39	r~/t	r~/t	PROPN
fsr-3845	60	40	(	(	PUNCT
fsr-3845	60	41	1	1	NUM
fsr-3845	60	42	)	)	PUNCT
fsr-3845	60	43	(	(	PUNCT
fsr-3845	60	44	2	2	X
fsr-3845	60	45	)	)	PUNCT
fsr-3845	60	46	rit	rit	NOUN
fsr-3845	61	1	=	=	PUNCT
fsr-3845	61	2	~	~	PUNCT
fsr-3845	61	3	l	l	NOUN
fsr-3845	61	4	t	t	NOUN
fsr-3845	61	5	+	+	CCONJ
fsr-3845	61	6	~2	~2	ADV
fsr-3845	61	7	tbe	tbe	VERB
fsr-3845	61	8	ta	ta	ADP
fsr-3845	61	9	i	i	PRON
fsr-3845	61	10	,	,	PUNCT
fsr-3845	61	11	t	t	PROPN
fsr-3845	61	12	1	1	NUM
fsr-3845	61	13	+	+	CCONJ
fsr-3845	61	14	~)3texpi	~)3texpi	PROPN
fsr-3845	61	15	,	,	PUNCT
fsr-3845	61	16	t	t	PROPN
fsr-3845	61	17	1	1	NUM
fsr-3845	61	18	+	+	CCONJ
fsr-3845	61	19	~4tsizei	~4tsizei	NUM
fsr-3845	61	20	,	,	PUNCT
fsr-3845	61	21	t	t	PROPN
fsr-3845	61	22	1	1	NUM
fsr-3845	61	23	8	8	NUM
fsr-3845	61	24	+	+	NUM
fsr-3845	61	25	~	~	SYM
fsr-3845	61	26	t	t	NOUN
fsr-3845	61	27	1	1	NUM
fsr-3845	61	28	+	+	CCONJ
fsr-3845	61	29	~	~	PUNCT
fsr-3845	61	30	5	5	NUM
fsr-3845	61	31	t	t	PROPN
fsr-3845	61	32	b	b	PROPN
fsr-3845	61	33	/	/	SYM
fsr-3845	61	34	m	m	VERB
fsr-3845	61	35	i	i	INTJ
fsr-3845	61	36	,	,	PUNCT
fsr-3845	61	37	t	t	PROPN
fsr-3845	61	38	1	1	NUM
fsr-3845	62	1	+	+	CCONJ
fsr-3845	62	2	~	~	PUNCT
fsr-3845	62	3	6	6	NUM
fsr-3845	62	4	t	t	NOUN
fsr-3845	62	5	e	e	PROPN
fsr-3845	62	6	/	/	SYM
fsr-3845	62	7	m	m	VERB
fsr-3845	62	8	i	i	PRON
fsr-3845	62	9	,	,	PUNCT
fsr-3845	62	10	t	t	PROPN
fsr-3845	62	11	1	1	NUM
fsr-3845	62	12	+	+	CCONJ
fsr-3845	62	13	8	8	NUM
fsr-3845	62	14	7	7	NUM
fsr-3845	62	15	t	t	NOUN
fsr-3845	62	16	c	c	PROPN
fsr-3845	62	17	f	f	PROPN
fsr-3845	62	18	/	/	SYM
fsr-3845	62	19	m	m	VERB
fsr-3845	62	20	i	i	PRON
fsr-3845	62	21	,	,	PUNCT
fsr-3845	62	22	t	t	PROPN
fsr-3845	62	23	l	l	PROPN
fsr-3845	62	24	+	+	CCONJ
fsr-3845	62	25	rit	rit	NOUN
fsr-3845	62	26	(	(	PUNCT
fsr-3845	62	27	3	3	NUM
fsr-3845	62	28	)	)	PUNCT
fsr-3845	62	29	48	48	NUM
fsr-3845	62	30	financial	financial	ADJ
fsr-3845	62	31	services	service	NOUN
fsr-3845	62	32	review	review	VERB
fsr-3845	62	33	7(1	7(1	NUM
fsr-3845	62	34	)	)	PUNCT
fsr-3845	62	35	1998	1998	NUM
fsr-3845	62	36	where	where	SCONJ
fsr-3845	62	37	t	t	NOUN
fsr-3845	62	38	r	r	NOUN
fsr-3845	62	39	i	i	PRON
fsr-3845	62	40	t	t	NOUN
fsr-3845	62	41	=	=	PUNCT
fsr-3845	62	42	beta/	beta/	NUM
fsr-3845	62	43	,	,	PUNCT
fsr-3845	62	44	t	t	PROPN
fsr-3845	62	45	1	1	NUM
fsr-3845	62	46	=	=	SYM
fsr-3845	62	47	expi	expi	PROPN
fsr-3845	62	48	,	,	PUNCT
fsr-3845	62	49	t	t	PROPN
fsr-3845	62	50	i	i	NOUN
fsr-3845	62	51	=	=	SYM
fsr-3845	62	52	size/	size/	NUM
fsr-3845	62	53	,	,	PUNCT
fsr-3845	62	54	t	t	PROPN
fsr-3845	62	55	1	1	NUM
fsr-3845	62	56	=	=	SYM
fsr-3845	62	57	bitvli	bitvli	PROPN
fsr-3845	62	58	,	,	PUNCT
fsr-3845	62	59	t	t	PROPN
fsr-3845	62	60	_	_	PUNCT
fsr-3845	63	1	i	i	PRON
fsr-3845	63	2	=	=	PUNCT
fsr-3845	63	3	e	e	X
fsr-3845	63	4	~	~	PUNCT
fsr-3845	63	5	i	i	PRON
fsr-3845	63	6	,	,	PUNCT
fsr-3845	63	7	t	t	PROPN
fsr-3845	63	8	_	_	PUNCT
fsr-3845	64	1	1	1	NUM
fsr-3845	64	2	=	=	SYM
fsr-3845	64	3	c	c	NOUN
fsr-3845	64	4	f	f	PROPN
fsr-3845	64	5	/	/	SYM
fsr-3845	64	6	m	m	VERB
fsr-3845	64	7	i	i	INTJ
fsr-3845	64	8	,	,	PUNCT
fsr-3845	64	9	t	t	PROPN
fsr-3845	64	10	1	1	NUM
fsr-3845	64	11	=	=	SYM
fsr-3845	64	12	o~	o~	PROPN
fsr-3845	64	13	1	1	NUM
fsr-3845	64	14	t	t	NOUN
fsr-3845	64	15	o	o	X
fsr-3845	64	16	~	~	PUNCT
fsr-3845	64	17	3	3	X
fsr-3845	64	18	,	,	PUNCT
fsr-3845	64	19	=	=	NOUN
fsr-3845	64	20	131	131	NUM
fsr-3845	64	21	to	to	PART
fsr-3845	64	22	132	132	NUM
fsr-3845	64	23	,	,	PUNCT
fsr-3845	64	24	81	81	NUM
fsr-3845	64	25	toa7	toa7	NOUN
fsr-3845	64	26	r	r	NOUN
fsr-3845	64	27	i	i	PRON
fsr-3845	64	28	t	t	PROPN
fsr-3845	64	29	,	,	PUNCT
fsr-3845	64	30	r	r	NOUN
fsr-3845	64	31	.	.	PUNCT
fsr-3845	65	1	,	,	PUNCT
fsr-3845	66	1	r	r	NOUN
fsr-3845	67	1	i	i	PRON
fsr-3845	67	2	t	t	NOUN
fsr-3845	67	3	=	=	PUNCT
fsr-3845	67	4	each	each	DET
fsr-3845	67	5	year	year	NOUN
fsr-3845	67	6	1975	1975	NUM
fsr-3845	67	7	through	through	ADP
fsr-3845	67	8	1995	1995	NUM
fsr-3845	67	9	;	;	PUNCT
fsr-3845	67	10	total	total	ADJ
fsr-3845	67	11	return	return	NOUN
fsr-3845	67	12	of	of	ADP
fsr-3845	67	13	mutual	mutual	ADJ
fsr-3845	67	14	fund	fund	NOUN
fsr-3845	67	15	i	i	PRON
fsr-3845	67	16	in	in	ADP
fsr-3845	67	17	year	year	NOUN
fsr-3845	67	18	t	t	PROPN
fsr-3845	67	19	;	;	PUNCT
fsr-3845	67	20	market	market	NOUN
fsr-3845	67	21	risk	risk	NOUN
fsr-3845	67	22	of	of	ADP
fsr-3845	67	23	fund	fund	NOUN
fsr-3845	68	1	i	i	PRON
fsr-3845	68	2	in	in	ADP
fsr-3845	68	3	year	year	NOUN
fsr-3845	68	4	t	t	PROPN
fsr-3845	68	5	1	1	NUM
fsr-3845	68	6	;	;	PUNCT
fsr-3845	68	7	expense	expense	NOUN
fsr-3845	68	8	ratio	ratio	NOUN
fsr-3845	68	9	of	of	ADP
fsr-3845	68	10	fund	fund	NOUN
fsr-3845	68	11	i	i	PRON
fsr-3845	68	12	in	in	ADP
fsr-3845	68	13	year	year	NOUN
fsr-3845	68	14	t	t	PROPN
fsr-3845	68	15	1	1	NUM
fsr-3845	68	16	;	;	PUNCT
fsr-3845	68	17	natural	natural	ADJ
fsr-3845	68	18	logarithm	logarithm	NOUN
fsr-3845	68	19	of	of	ADP
fsr-3845	68	20	the	the	DET
fsr-3845	68	21	median	median	ADJ
fsr-3845	68	22	market	market	NOUN
fsr-3845	68	23	capitalization	capitalization	NOUN
fsr-3845	68	24	of	of	ADP
fsr-3845	68	25	the	the	DET
fsr-3845	68	26	common	common	ADJ
fsr-3845	68	27	stocks	stock	NOUN
fsr-3845	68	28	held	hold	VERB
fsr-3845	68	29	by	by	ADP
fsr-3845	68	30	mutual	mutual	ADJ
fsr-3845	68	31	fund	fund	NOUN
fsr-3845	68	32	i	i	PRON
fsr-3845	68	33	at	at	ADP
fsr-3845	68	34	the	the	DET
fsr-3845	68	35	end	end	NOUN
fsr-3845	68	36	of	of	ADP
fsr-3845	68	37	year	year	NOUN
fsr-3845	68	38	t	t	PROPN
fsr-3845	68	39	1	1	NUM
fsr-3845	68	40	;	;	PUNCT
fsr-3845	68	41	median	median	ADJ
fsr-3845	68	42	ratio	ratio	NOUN
fsr-3845	68	43	of	of	ADP
fsr-3845	68	44	book	book	NOUN
fsr-3845	68	45	-	-	PUNCT
fsr-3845	68	46	to	to	ADP
fsr-3845	68	47	-	-	PUNCT
fsr-3845	68	48	market	market	NOUN
fsr-3845	68	49	equity	equity	NOUN
fsr-3845	68	50	of	of	ADP
fsr-3845	68	51	the	the	DET
fsr-3845	68	52	common	common	ADJ
fsr-3845	68	53	stocks	stock	NOUN
fsr-3845	68	54	held	hold	VERB
fsr-3845	68	55	by	by	ADP
fsr-3845	68	56	mutual	mutual	ADJ
fsr-3845	68	57	fund	fund	NOUN
fsr-3845	68	58	i	i	PRON
fsr-3845	68	59	at	at	ADP
fsr-3845	68	60	the	the	DET
fsr-3845	68	61	end	end	NOUN
fsr-3845	68	62	of	of	ADP
fsr-3845	68	63	year	year	NOUN
fsr-3845	68	64	t	t	PROPN
fsr-3845	68	65	1	1	NUM
fsr-3845	68	66	;	;	PUNCT
fsr-3845	68	67	median	median	ADJ
fsr-3845	68	68	earnings	earning	NOUN
fsr-3845	68	69	yield	yield	NOUN
fsr-3845	68	70	of	of	ADP
fsr-3845	68	71	the	the	DET
fsr-3845	68	72	common	common	ADJ
fsr-3845	68	73	stocks	stock	NOUN
fsr-3845	68	74	held	hold	VERB
fsr-3845	68	75	by	by	ADP
fsr-3845	68	76	mutual	mutual	ADJ
fsr-3845	68	77	fund	fund	NOUN
fsr-3845	68	78	i	i	PRON
fsr-3845	68	79	at	at	ADP
fsr-3845	68	80	the	the	DET
fsr-3845	68	81	end	end	NOUN
fsr-3845	68	82	of	of	ADP
fsr-3845	68	83	year	year	NOUN
fsr-3845	68	84	t	t	PROPN
fsr-3845	68	85	1	1	NUM
fsr-3845	68	86	;	;	PUNCT
fsr-3845	68	87	calculated	calculate	VERB
fsr-3845	68	88	as	as	ADP
fsr-3845	68	89	income	income	NOUN
fsr-3845	68	90	before	before	ADP
fsr-3845	68	91	extraordinary	extraordinary	ADJ
fsr-3845	68	92	items	item	NOUN
fsr-3845	68	93	less	less	ADV
fsr-3845	68	94	preferred	preferred	ADJ
fsr-3845	68	95	dividends	dividend	NOUN
fsr-3845	68	96	divided	divide	VERB
fsr-3845	68	97	by	by	ADP
fsr-3845	68	98	the	the	DET
fsr-3845	68	99	market	market	NOUN
fsr-3845	68	100	value	value	NOUN
fsr-3845	68	101	of	of	ADP
fsr-3845	68	102	common	common	ADJ
fsr-3845	68	103	stock	stock	NOUN
fsr-3845	68	104	;	;	PUNCT
fsr-3845	68	105	median	median	ADJ
fsr-3845	68	106	cash	cash	NOUN
fsr-3845	68	107	flow	flow	NOUN
fsr-3845	68	108	yield	yield	NOUN
fsr-3845	68	109	of	of	ADP
fsr-3845	68	110	the	the	DET
fsr-3845	68	111	common	common	ADJ
fsr-3845	68	112	stocks	stock	NOUN
fsr-3845	68	113	held	hold	VERB
fsr-3845	68	114	by	by	ADP
fsr-3845	68	115	mutual	mutual	ADJ
fsr-3845	68	116	fund	fund	NOUN
fsr-3845	68	117	i	i	PRON
fsr-3845	68	118	at	at	ADP
fsr-3845	68	119	the	the	DET
fsr-3845	68	120	end	end	NOUN
fsr-3845	68	121	of	of	ADP
fsr-3845	68	122	year	year	NOUN
fsr-3845	68	123	t	t	PROPN
fsr-3845	68	124	1	1	NUM
fsr-3845	68	125	;	;	PUNCT
fsr-3845	68	126	calculated	calculate	VERB
fsr-3845	68	127	as	as	ADP
fsr-3845	68	128	the	the	DET
fsr-3845	68	129	cash	cash	NOUN
fsr-3845	68	130	flow	flow	NOUN
fsr-3845	68	131	available	available	ADJ
fsr-3845	68	132	to	to	ADP
fsr-3845	68	133	common	common	ADJ
fsr-3845	68	134	stock	stock	NOUN
fsr-3845	68	135	divided	divide	VERB
fsr-3845	68	136	by	by	ADP
fsr-3845	68	137	the	the	DET
fsr-3845	68	138	market	market	NOUN
fsr-3845	68	139	value	value	NOUN
fsr-3845	68	140	of	of	ADP
fsr-3845	68	141	common	common	ADJ
fsr-3845	68	142	stock	stock	NOUN
fsr-3845	68	143	;	;	PUNCT
fsr-3845	68	144	regression	regression	NOUN
fsr-3845	68	145	parameters	parameter	NOUN
fsr-3845	68	146	to	to	PART
fsr-3845	68	147	be	be	AUX
fsr-3845	68	148	estimated	estimate	VERB
fsr-3845	68	149	(	(	PUNCT
fsr-3845	68	150	estimation	estimation	NOUN
fsr-3845	68	151	methods	method	NOUN
fsr-3845	68	152	described	describe	VERB
fsr-3845	68	153	below	below	ADP
fsr-3845	68	154	)	)	PUNCT
fsr-3845	68	155	;	;	PUNCT
fsr-3845	68	156	year	year	NOUN
fsr-3845	68	157	t	t	PROPN
fsr-3845	68	158	characteristic	characteristic	ADV
fsr-3845	68	159	-	-	PUNCT
fsr-3845	68	160	adjusted	adjust	VERB
fsr-3845	68	161	regression	regression	NOUN
fsr-3845	68	162	residuals	residual	NOUN
fsr-3845	68	163	estimated	estimate	VERB
fsr-3845	68	164	from	from	ADP
fsr-3845	68	165	equations	equation	NOUN
fsr-3845	68	166	1	1	NUM
fsr-3845	68	167	,	,	PUNCT
fsr-3845	68	168	2	2	NUM
fsr-3845	68	169	and	and	CCONJ
fsr-3845	68	170	3	3	NUM
fsr-3845	68	171	above	above	ADV
fsr-3845	68	172	.	.	PUNCT
fsr-3845	69	1	the	the	DET
fsr-3845	69	2	variables	variable	NOUN
fsr-3845	69	3	included	include	VERB
fsr-3845	69	4	in	in	ADP
fsr-3845	69	5	the	the	DET
fsr-3845	69	6	above	above	ADJ
fsr-3845	69	7	models	model	NOUN
fsr-3845	69	8	are	be	AUX
fsr-3845	69	9	motivated	motivate	VERB
fsr-3845	69	10	by	by	ADP
fsr-3845	69	11	studies	study	NOUN
fsr-3845	69	12	of	of	ADP
fsr-3845	69	13	the	the	DET
fsr-3845	69	14	cross	cross	ADJ
fsr-3845	69	15	-	-	ADJ
fsr-3845	69	16	sec	sec	ADJ
fsr-3845	69	17	tion	tion	NOUN
fsr-3845	69	18	of	of	ADP
fsr-3845	69	19	stock	stock	NOUN
fsr-3845	69	20	and	and	CCONJ
fsr-3845	69	21	mutual	mutual	ADJ
fsr-3845	69	22	fund	fund	NOUN
fsr-3845	69	23	returns	return	NOUN
fsr-3845	69	24	.	.	PUNCT
fsr-3845	70	1	each	each	DET
fsr-3845	70	2	mutual	mutual	ADJ
fsr-3845	70	3	fund	fund	NOUN
fsr-3845	70	4	's	's	PART
fsr-3845	70	5	beta	beta	NOUN
fsr-3845	70	6	is	be	AUX
fsr-3845	70	7	estimated	estimate	VERB
fsr-3845	70	8	via	via	ADP
fsr-3845	70	9	ols	ols	PROPN
fsr-3845	70	10	regres	regre	NOUN
fsr-3845	70	11	sion	sion	PROPN
fsr-3845	70	12	,	,	PUNCT
fsr-3845	70	13	using	use	VERB
fsr-3845	70	14	monthly	monthly	ADJ
fsr-3845	70	15	returns	return	NOUN
fsr-3845	70	16	for	for	ADP
fsr-3845	70	17	the	the	DET
fsr-3845	70	18	36	36	NUM
fsr-3845	70	19	months	month	NOUN
fsr-3845	70	20	preceding	precede	VERB
fsr-3845	70	21	year	year	NOUN
fsr-3845	70	22	t.	t.	NOUN
fsr-3845	70	23	the	the	DET
fsr-3845	70	24	center	center	NOUN
fsr-3845	70	25	for	for	ADP
fsr-3845	70	26	research	research	NOUN
fsr-3845	70	27	in	in	ADP
fsr-3845	70	28	securities	security	NOUN
fsr-3845	70	29	prices	price	NOUN
fsr-3845	70	30	value	value	NOUN
fsr-3845	70	31	-	-	PUNCT
fsr-3845	70	32	weighted	weight	VERB
fsr-3845	70	33	index	index	NOUN
fsr-3845	70	34	of	of	ADP
fsr-3845	70	35	all	all	DET
fsr-3845	70	36	nyse	nyse	PROPN
fsr-3845	70	37	,	,	PUNCT
fsr-3845	70	38	amex	amex	PROPN
fsr-3845	70	39	,	,	PUNCT
fsr-3845	70	40	and	and	CCONJ
fsr-3845	70	41	nasdaq	nasdaq	PROPN
fsr-3845	70	42	stocks	stock	NOUN
fsr-3845	70	43	is	be	AUX
fsr-3845	70	44	used	use	VERB
fsr-3845	70	45	as	as	ADP
fsr-3845	70	46	the	the	DET
fsr-3845	70	47	market	market	NOUN
fsr-3845	70	48	proxy	proxy	NOUN
fsr-3845	70	49	.	.	PUNCT
fsr-3845	71	1	malkiel	malkiel	PROPN
fsr-3845	71	2	(	(	PUNCT
fsr-3845	71	3	1995	1995	NUM
fsr-3845	71	4	)	)	PUNCT
fsr-3845	71	5	,	,	PUNCT
fsr-3845	71	6	gruber	gruber	NOUN
fsr-3845	71	7	(	(	PUNCT
fsr-3845	71	8	1996	1996	NUM
fsr-3845	71	9	)	)	PUNCT
fsr-3845	71	10	,	,	PUNCT
fsr-3845	71	11	and	and	CCONJ
fsr-3845	71	12	carhart	carhart	NOUN
fsr-3845	71	13	(	(	PUNCT
fsr-3845	71	14	1997	1997	NUM
fsr-3845	71	15	)	)	PUNCT
fsr-3845	71	16	find	find	VERB
fsr-3845	71	17	that	that	SCONJ
fsr-3845	71	18	mutual	mutual	ADJ
fsr-3845	71	19	fund	fund	NOUN
fsr-3845	71	20	expense	expense	NOUN
fsr-3845	71	21	ratios	ratio	NOUN
fsr-3845	71	22	are	be	AUX
fsr-3845	71	23	significant	significant	ADJ
fsr-3845	71	24	in	in	ADP
fsr-3845	71	25	explaining	explain	VERB
fsr-3845	71	26	fund	fund	NOUN
fsr-3845	71	27	performance	performance	NOUN
fsr-3845	71	28	.	.	PUNCT
fsr-3845	72	1	these	these	DET
fsr-3845	72	2	expense	expense	NOUN
fsr-3845	72	3	ratios	ratio	NOUN
fsr-3845	72	4	are	be	AUX
fsr-3845	72	5	therefore	therefore	ADV
fsr-3845	72	6	obtained	obtain	VERB
fsr-3845	72	7	from	from	ADP
fsr-3845	72	8	wiesenberger	wiesenberger	NOUN
fsr-3845	72	9	and	and	CCONJ
fsr-3845	72	10	morningstar	morningstar	PROPN
fsr-3845	72	11	mutual	mutual	ADJ
fsr-3845	72	12	funds	fund	NOUN
fsr-3845	72	13	ondisc	ondisc	NOUN
fsr-3845	72	14	and	and	CCONJ
fsr-3845	72	15	included	include	VERB
fsr-3845	72	16	as	as	ADP
fsr-3845	72	17	an	an	DET
fsr-3845	72	18	explanatory	explanatory	ADJ
fsr-3845	72	19	variable	variable	NOUN
fsr-3845	72	20	in	in	ADP
fsr-3845	72	21	the	the	DET
fsr-3845	72	22	models	model	NOUN
fsr-3845	72	23	.	.	PUNCT
fsr-3845	73	1	firm	firm	ADJ
fsr-3845	73	2	size	size	NOUN
fsr-3845	73	3	,	,	PUNCT
fsr-3845	73	4	measured	measure	VERB
fsr-3845	73	5	as	as	ADP
fsr-3845	73	6	the	the	DET
fsr-3845	73	7	natural	natural	ADJ
fsr-3845	73	8	log	log	NOUN
fsr-3845	73	9	arithm	arithm	NOUN
fsr-3845	73	10	of	of	ADP
fsr-3845	73	11	the	the	DET
fsr-3845	73	12	median	median	ADJ
fsr-3845	73	13	market	market	NOUN
fsr-3845	73	14	capitalization	capitalization	NOUN
fsr-3845	73	15	of	of	ADP
fsr-3845	73	16	the	the	DET
fsr-3845	73	17	stocks	stock	NOUN
fsr-3845	73	18	held	hold	VERB
fsr-3845	73	19	by	by	ADP
fsr-3845	73	20	each	each	DET
fsr-3845	73	21	fund	fund	NOUN
fsr-3845	73	22	,	,	PUNCT
fsr-3845	73	23	is	be	AUX
fsr-3845	73	24	included	include	VERB
fsr-3845	73	25	as	as	ADP
fsr-3845	73	26	a	a	DET
fsr-3845	73	27	control	control	NOUN
fsr-3845	73	28	variable	variable	NOUN
fsr-3845	73	29	.	.	PUNCT
fsr-3845	74	1	three	three	NUM
fsr-3845	74	2	ratios	ratio	NOUN
fsr-3845	74	3	intended	intend	VERB
fsr-3845	74	4	to	to	PART
fsr-3845	74	5	capture	capture	VERB
fsr-3845	74	6	fund	fund	NOUN
fsr-3845	74	7	manager	manager	NOUN
fsr-3845	74	8	investment	investment	NOUN
fsr-3845	74	9	styles	style	NOUN
fsr-3845	74	10	are	be	AUX
fsr-3845	74	11	also	also	ADV
fsr-3845	74	12	included	include	VERB
fsr-3845	74	13	:	:	PUNCT
fsr-3845	74	14	the	the	DET
fsr-3845	74	15	median	median	ADJ
fsr-3845	74	16	ratio	ratio	NOUN
fsr-3845	74	17	of	of	ADP
fsr-3845	74	18	book	book	NOUN
fsr-3845	74	19	-	-	PUNCT
fsr-3845	74	20	to	to	ADP
fsr-3845	74	21	-	-	PUNCT
fsr-3845	74	22	market	market	NOUN
fsr-3845	74	23	equity	equity	NOUN
fsr-3845	74	24	(	(	PUNCT
fsr-3845	74	25	bdvl	bdvl	PROPN
fsr-3845	74	26	)	)	PUNCT
fsr-3845	74	27	of	of	ADP
fsr-3845	74	28	the	the	DET
fsr-3845	74	29	stocks	stock	NOUN
fsr-3845	74	30	held	hold	VERB
fsr-3845	74	31	by	by	ADP
fsr-3845	74	32	each	each	DET
fsr-3845	74	33	fund	fund	NOUN
fsr-3845	74	34	;	;	PUNCT
fsr-3845	74	35	the	the	DET
fsr-3845	74	36	median	median	ADJ
fsr-3845	74	37	earnings	earning	NOUN
fsr-3845	74	38	yield	yield	NOUN
fsr-3845	74	39	(	(	PUNCT
fsr-3845	74	40	f_/m	f_/m	PROPN
fsr-3845	74	41	)	)	PUNCT
fsr-3845	74	42	;	;	PUNCT
fsr-3845	74	43	and	and	CCONJ
fsr-3845	74	44	the	the	DET
fsr-3845	74	45	median	median	ADJ
fsr-3845	74	46	cash	cash	NOUN
fsr-3845	74	47	flow	flow	NOUN
fsr-3845	74	48	yield	yield	NOUN
fsr-3845	74	49	(	(	PUNCT
fsr-3845	74	50	cf	cf	NOUN
fsr-3845	74	51	/	/	SYM
fsr-3845	74	52	m	m	NOUN
fsr-3845	74	53	)	)	PUNCT
fsr-3845	74	54	.	.	PUNCT
fsr-3845	75	1	the	the	DET
fsr-3845	75	2	stocks	stock	NOUN
fsr-3845	75	3	held	hold	VERB
fsr-3845	75	4	by	by	ADP
fsr-3845	75	5	each	each	DET
fsr-3845	75	6	mutual	mutual	ADJ
fsr-3845	75	7	fund	fund	NOUN
fsr-3845	75	8	are	be	AUX
fsr-3845	75	9	identified	identify	VERB
fsr-3845	75	10	using	use	VERB
fsr-3845	75	11	investment	investment	NOUN
fsr-3845	75	12	schedules	schedule	NOUN
fsr-3845	75	13	reported	report	VERB
fsr-3845	75	14	in	in	ADP
fsr-3845	75	15	moody	moody	PROPN
fsr-3845	75	16	's	's	PART
fsr-3845	75	17	bank	bank	NOUN
fsr-3845	75	18	and	and	CCONJ
fsr-3845	75	19	finance	finance	NOUN
fsr-3845	75	20	manual	manual	NOUN
fsr-3845	75	21	,	,	PUNCT
fsr-3845	75	22	q	q	ADJ
fsr-3845	75	23	-	-	PUNCT
fsr-3845	75	24	data	datum	NOUN
fsr-3845	75	25	corporation	corporation	NOUN
fsr-3845	75	26	's	's	PART
fsr-3845	75	27	sec	sec	PROPN
fsr-3845	75	28	file	file	NOUN
fsr-3845	75	29	,	,	PUNCT
fsr-3845	75	30	or	or	CCONJ
fsr-3845	75	31	morningstar	morningstar	PROPN
fsr-3845	75	32	,	,	PUNCT
fsr-3845	75	33	inc	inc	PROPN
fsr-3845	75	34	.	.	PROPN
fsr-3845	75	35	's	's	PART
fsr-3845	75	36	mutual	mutual	ADJ
fsr-3845	75	37	fund	fund	NOUN
fsr-3845	75	38	sourcebook	sourcebook	NOUN
fsr-3845	75	39	for	for	ADP
fsr-3845	75	40	each	each	DET
fsr-3845	75	41	year	year	NOUN
fsr-3845	75	42	t	t	PROPN
fsr-3845	75	43	1	1	NUM
fsr-3845	75	44	,	,	PUNCT
fsr-3845	75	45	1974	1974	NUM
fsr-3845	75	46	-	-	SYM
fsr-3845	75	47	1994	1994	NUM
fsr-3845	75	48	.	.	PUNCT
fsr-3845	76	1	financial	financial	ADJ
fsr-3845	76	2	data	datum	NOUN
fsr-3845	76	3	on	on	ADP
fsr-3845	76	4	the	the	DET
fsr-3845	76	5	stocks	stock	NOUN
fsr-3845	76	6	held	hold	VERB
fsr-3845	76	7	by	by	ADP
fsr-3845	76	8	each	each	DET
fsr-3845	76	9	fund	fund	NOUN
fsr-3845	76	10	are	be	AUX
fsr-3845	76	11	obtained	obtain	VERB
fsr-3845	76	12	using	use	VERB
fsr-3845	76	13	standard	standard	PROPN
fsr-3845	76	14	&	&	CCONJ
fsr-3845	76	15	poor	poor	PROPN
fsr-3845	76	16	's	's	PART
fsr-3845	76	17	compustat	compustat	NOUN
fsr-3845	76	18	annual	annual	ADJ
fsr-3845	76	19	files	file	NOUN
fsr-3845	76	20	database	database	NOUN
fsr-3845	76	21	.	.	PUNCT
fsr-3845	77	1	equations	equation	NOUN
fsr-3845	77	2	1	1	NUM
fsr-3845	77	3	,	,	PUNCT
fsr-3845	77	4	2	2	NUM
fsr-3845	77	5	,	,	PUNCT
fsr-3845	77	6	and	and	CCONJ
fsr-3845	77	7	3	3	NUM
fsr-3845	77	8	above	above	ADV
fsr-3845	77	9	are	be	AUX
fsr-3845	77	10	estimated	estimate	VERB
fsr-3845	77	11	using	use	VERB
fsr-3845	77	12	the	the	DET
fsr-3845	77	13	stacked	stack	VERB
fsr-3845	77	14	cross	cross	ADJ
fsr-3845	77	15	-	-	ADJ
fsr-3845	77	16	sectional	sectional	ADJ
fsr-3845	77	17	regression	regression	NOUN
fsr-3845	77	18	approach	approach	NOUN
fsr-3845	77	19	of	of	ADP
fsr-3845	77	20	fama	fama	PROPN
fsr-3845	77	21	and	and	CCONJ
fsr-3845	77	22	macbeth	macbeth	PROPN
fsr-3845	77	23	(	(	PUNCT
fsr-3845	77	24	1973	1973	NUM
fsr-3845	77	25	)	)	PUNCT
fsr-3845	77	26	.	.	PUNCT
fsr-3845	78	1	during	during	ADP
fsr-3845	78	2	the	the	DET
fsr-3845	78	3	sample	sample	NOUN
fsr-3845	78	4	period	period	NOUN
fsr-3845	78	5	1975	1975	NUM
fsr-3845	78	6	-	-	SYM
fsr-3845	78	7	1995	1995	NUM
fsr-3845	78	8	one	one	NUM
fsr-3845	78	9	cross	cross	NOUN
fsr-3845	78	10	sectional	sectional	ADJ
fsr-3845	78	11	regression	regression	NOUN
fsr-3845	78	12	is	be	AUX
fsr-3845	78	13	estimated	estimate	VERB
fsr-3845	78	14	for	for	ADP
fsr-3845	78	15	each	each	DET
fsr-3845	78	16	year	year	NOUN
fsr-3845	78	17	t.	t.	NOUN
fsr-3845	78	18	this	this	DET
fsr-3845	78	19	results	result	VERB
fsr-3845	78	20	in	in	ADP
fsr-3845	78	21	21	21	NUM
fsr-3845	78	22	cross	cross	ADJ
fsr-3845	78	23	-	-	ADJ
fsr-3845	78	24	sectional	sectional	ADJ
fsr-3845	78	25	regres	regre	NOUN
fsr-3845	78	26	sions	sion	NOUN
fsr-3845	78	27	,	,	PUNCT
fsr-3845	78	28	beginning	begin	VERB
fsr-3845	78	29	with	with	ADP
fsr-3845	78	30	61	61	NUM
fsr-3845	78	31	observations	observation	NOUN
fsr-3845	78	32	in	in	ADP
fsr-3845	78	33	1975	1975	NUM
fsr-3845	78	34	and	and	CCONJ
fsr-3845	78	35	ending	end	VERB
fsr-3845	78	36	with	with	ADP
fsr-3845	78	37	55	55	NUM
fsr-3845	78	38	observations	observation	NOUN
fsr-3845	78	39	in	in	ADP
fsr-3845	78	40	1995	1995	NUM
fsr-3845	78	41	due	due	ADP
fsr-3845	78	42	to	to	ADP
fsr-3845	78	43	six	six	NUM
fsr-3845	78	44	non	non	ADJ
fsr-3845	78	45	-	-	ADJ
fsr-3845	78	46	surviving	surviving	ADJ
fsr-3845	78	47	funds	fund	NOUN
fsr-3845	78	48	.	.	PUNCT
fsr-3845	79	1	the	the	DET
fsr-3845	79	2	time	time	NOUN
fsr-3845	79	3	-	-	PUNCT
fsr-3845	79	4	series	series	NOUN
fsr-3845	79	5	means	mean	NOUN
fsr-3845	79	6	of	of	ADP
fsr-3845	79	7	the	the	DET
fsr-3845	79	8	standardized	standardized	ADJ
fsr-3845	79	9	slope	slope	NOUN
fsr-3845	79	10	coefficients	coefficient	NOUN
fsr-3845	79	11	from	from	ADP
fsr-3845	79	12	these	these	DET
fsr-3845	79	13	regressions	regression	NOUN
fsr-3845	79	14	provide	provide	VERB
fsr-3845	79	15	a	a	DET
fsr-3845	79	16	basis	basis	NOUN
fsr-3845	79	17	for	for	ADP
fsr-3845	79	18	comparing	compare	VERB
fsr-3845	79	19	the	the	DET
fsr-3845	79	20	relative	relative	ADJ
fsr-3845	79	21	contributions	contribution	NOUN
fsr-3845	79	22	of	of	ADP
fsr-3845	79	23	the	the	DET
fsr-3845	79	24	explanatory	explanatory	ADJ
fsr-3845	79	25	variables	variable	NOUN
fsr-3845	79	26	in	in	ADP
fsr-3845	79	27	explaining	explain	VERB
fsr-3845	79	28	mutual	mutual	ADJ
fsr-3845	79	29	fund	fund	NOUN
fsr-3845	79	30	performance	performance	NOUN
fsr-3845	79	31	.	.	PUNCT
fsr-3845	80	1	summing	sum	VERB
fsr-3845	80	2	the	the	DET
fsr-3845	80	3	squares	square	NOUN
fsr-3845	80	4	of	of	ADP
fsr-3845	80	5	the	the	DET
fsr-3845	80	6	slope	slope	NOUN
fsr-3845	80	7	-	-	PUNCT
fsr-3845	80	8	coefficient	coefficient	PROPN
fsr-3845	80	9	t	t	PROPN
fsr-3845	80	10	-	-	PUNCT
fsr-3845	80	11	statistics	statistic	NOUN
fsr-3845	80	12	yields	yield	NOUN
fsr-3845	80	13	x	x	SYM
fsr-3845	80	14	2	2	NUM
fsr-3845	80	15	statistics	statistic	NOUN
fsr-3845	80	16	(	(	PUNCT
fsr-3845	80	17	see	see	VERB
fsr-3845	80	18	bajaj	bajaj	PROPN
fsr-3845	80	19	&	&	CCONJ
fsr-3845	80	20	vijh	vijh	NOUN
fsr-3845	80	21	,	,	PUNCT
fsr-3845	80	22	1995	1995	NUM
fsr-3845	80	23	)	)	PUNCT
fsr-3845	80	24	that	that	PRON
fsr-3845	80	25	test	test	VERB
fsr-3845	80	26	the	the	DET
fsr-3845	80	27	signif	signif	ADJ
fsr-3845	80	28	icance	icance	NOUN
fsr-3845	80	29	of	of	ADP
fsr-3845	80	30	mutual	mutual	ADJ
fsr-3845	80	31	fund	fund	NOUN
fsr-3845	80	32	characteristics	characteristic	NOUN
fsr-3845	80	33	in	in	ADP
fsr-3845	80	34	explaining	explain	VERB
fsr-3845	80	35	the	the	DET
fsr-3845	80	36	cross	cross	ADJ
fsr-3845	80	37	-	-	ADJ
fsr-3845	80	38	sectional	sectional	ADJ
fsr-3845	80	39	variation	variation	NOUN
fsr-3845	80	40	in	in	ADP
fsr-3845	80	41	annual	annual	ADJ
fsr-3845	80	42	explaining	explain	VERB
fsr-3845	80	43	persistence	persistence	NOUN
fsr-3845	80	44	49	49	NUM
fsr-3845	80	45	fund	fund	NOUN
fsr-3845	80	46	returns	return	NOUN
fsr-3845	80	47	.	.	PUNCT
fsr-3845	81	1	a	a	DET
fsr-3845	81	2	significant	significant	ADJ
fsr-3845	81	3	)	)	PUNCT
fsr-3845	81	4	c	c	NOUN
fsr-3845	81	5	2	2	NUM
fsr-3845	81	6	statistic	statistic	NOUN
fsr-3845	81	7	indicates	indicate	VERB
fsr-3845	81	8	that	that	SCONJ
fsr-3845	81	9	mutual	mutual	ADJ
fsr-3845	81	10	fund	fund	NOUN
fsr-3845	81	11	returns	return	NOUN
fsr-3845	81	12	are	be	AUX
fsr-3845	81	13	related	relate	VERB
fsr-3845	81	14	to	to	ADP
fsr-3845	81	15	the	the	DET
fsr-3845	81	16	characteristics	characteristic	NOUN
fsr-3845	81	17	of	of	ADP
fsr-3845	81	18	the	the	DET
fsr-3845	81	19	stocks	stock	NOUN
fsr-3845	81	20	held	hold	VERB
fsr-3845	81	21	by	by	ADP
fsr-3845	81	22	each	each	DET
fsr-3845	81	23	fund	fund	NOUN
fsr-3845	81	24	.	.	PUNCT
fsr-3845	82	1	equations	equation	NOUN
fsr-3845	82	2	1	1	NUM
fsr-3845	82	3	,	,	PUNCT
fsr-3845	82	4	2	2	NUM
fsr-3845	82	5	and	and	CCONJ
fsr-3845	82	6	3	3	NUM
fsr-3845	82	7	above	above	ADP
fsr-3845	82	8	model	model	NOUN
fsr-3845	82	9	mutual	mutual	ADJ
fsr-3845	82	10	fund	fund	NOUN
fsr-3845	82	11	returns	return	NOUN
fsr-3845	82	12	as	as	ADP
fsr-3845	82	13	a	a	DET
fsr-3845	82	14	function	function	NOUN
fsr-3845	82	15	of	of	ADP
fsr-3845	82	16	one	one	NUM
fsr-3845	82	17	or	or	CCONJ
fsr-3845	82	18	more	more	ADJ
fsr-3845	82	19	characteristics	characteristic	NOUN
fsr-3845	82	20	identified	identify	VERB
fsr-3845	82	21	in	in	ADP
fsr-3845	82	22	asset	asset	NOUN
fsr-3845	82	23	-	-	PUNCT
fsr-3845	82	24	pricing	pricing	NOUN
fsr-3845	82	25	studies	study	NOUN
fsr-3845	82	26	as	as	ADV
fsr-3845	82	27	significant	significant	ADJ
fsr-3845	82	28	in	in	ADP
fsr-3845	82	29	explaining	explain	VERB
fsr-3845	82	30	the	the	DET
fsr-3845	82	31	cross	cross	ADJ
fsr-3845	82	32	-	-	ADJ
fsr-3845	82	33	sec	sec	ADJ
fsr-3845	82	34	tional	tional	ADJ
fsr-3845	82	35	variation	variation	NOUN
fsr-3845	82	36	in	in	ADP
fsr-3845	82	37	stock	stock	NOUN
fsr-3845	82	38	returns	return	NOUN
fsr-3845	82	39	.	.	PUNCT
fsr-3845	83	1	thus	thus	ADV
fsr-3845	83	2	,	,	PUNCT
fsr-3845	83	3	the	the	DET
fsr-3845	83	4	residuals	residual	NOUN
fsr-3845	83	5	from	from	ADP
fsr-3845	83	6	these	these	DET
fsr-3845	83	7	regressions	regression	NOUN
fsr-3845	83	8	r~	r~	NOUN
fsr-3845	83	9	,	,	PUNCT
fsr-3845	83	10	r~	r~	PROPN
fsr-3845	83	11	,	,	PUNCT
fsr-3845	83	12	r/~	r/~	NOUN
fsr-3845	83	13	may	may	AUX
fsr-3845	83	14	be	be	AUX
fsr-3845	83	15	viewed	view	VERB
fsr-3845	83	16	as	as	ADP
fsr-3845	83	17	characteristic	characteristic	NOUN
fsr-3845	83	18	-	-	PUNCT
fsr-3845	83	19	adjusted	adjust	VERB
fsr-3845	83	20	mutual	mutual	ADJ
fsr-3845	83	21	fund	fund	NOUN
fsr-3845	83	22	returns	return	NOUN
fsr-3845	83	23	.	.	PUNCT
fsr-3845	84	1	if	if	SCONJ
fsr-3845	84	2	the	the	DET
fsr-3845	84	3	persistence	persistence	NOUN
fsr-3845	84	4	in	in	ADP
fsr-3845	84	5	fund	fund	NOUN
fsr-3845	84	6	returns	return	NOUN
fsr-3845	84	7	is	be	AUX
fsr-3845	84	8	related	relate	VERB
fsr-3845	84	9	to	to	ADP
fsr-3845	84	10	these	these	DET
fsr-3845	84	11	characteristics	characteristic	NOUN
fsr-3845	84	12	,	,	PUNCT
fsr-3845	84	13	then	then	ADV
fsr-3845	84	14	these	these	DET
fsr-3845	84	15	adjusted	adjust	VERB
fsr-3845	84	16	returns	return	NOUN
fsr-3845	84	17	should	should	AUX
fsr-3845	84	18	display	display	VERB
fsr-3845	84	19	less	less	ADV
fsr-3845	84	20	serial	serial	ADJ
fsr-3845	84	21	cor	cor	PROPN
fsr-3845	84	22	relation	relation	NOUN
fsr-3845	84	23	than	than	ADP
fsr-3845	84	24	unadjusted	unadjusted	ADJ
fsr-3845	84	25	mutual	mutual	ADJ
fsr-3845	84	26	fund	fund	NOUN
fsr-3845	84	27	returns	return	NOUN
fsr-3845	84	28	.	.	PUNCT
fsr-3845	85	1	accordingly	accordingly	ADV
fsr-3845	85	2	,	,	PUNCT
fsr-3845	85	3	the	the	DET
fsr-3845	85	4	following	follow	VERB
fsr-3845	85	5	models	model	NOUN
fsr-3845	85	6	test	test	VERB
fsr-3845	85	7	for	for	ADP
fsr-3845	85	8	persistence	persistence	NOUN
fsr-3845	85	9	in	in	ADP
fsr-3845	85	10	adjusted	adjusted	ADJ
fsr-3845	85	11	fund	fund	NOUN
fsr-3845	85	12	returns	return	NOUN
fsr-3845	85	13	:	:	PUNCT
fsr-3845	85	14	rit	rit	NOUN
fsr-3845	85	15	=	=	PUNCT
fsr-3845	85	16	c	c	PROPN
fsr-3845	85	17	+	+	CCONJ
fsr-3845	85	18	p	p	PROPN
fsr-3845	85	19	ri	ri	PROPN
fsr-3845	85	20	,	,	PUNCT
fsr-3845	85	21	t	t	PROPN
fsr-3845	85	22	_	_	PUNCT
fsr-3845	86	1	l	l	PUNCT
fsr-3845	87	1	+	+	PUNCT
fsr-3845	87	2	£	£	SYM
fsr-3845	87	3	it	it	PRON
fsr-3845	87	4	(	(	PUNCT
fsr-3845	87	5	4	4	X
fsr-3845	87	6	)	)	PUNCT
fsr-3845	87	7	r	r	NOUN
fsr-3845	87	8	~	~	SYM
fsr-3845	87	9	t	t	NOUN
fsr-3845	87	10	=	=	PUNCT
fsr-3845	87	11	cfs+	cfs+	VERB
fsr-3845	87	12	p	p	X
fsr-3845	87	13	~	~	X
fsr-3845	87	14	lr	lr	X
fsr-3845	87	15	~	~	PROPN
fsr-3845	87	16	t_l	t_l	PUNCT
fsr-3845	88	1	+	+	PUNCT
fsr-3845	88	2	e	e	X
fsr-3845	88	3	~	~	PROPN
fsr-3845	88	4	t	t	X
fsr-3845	88	5	(	(	PUNCT
fsr-3845	88	6	5	5	NUM
fsr-3845	88	7	)	)	PUNCT
fsr-3845	88	8	8	8	NUM
fsr-3845	88	9	8	8	NUM
fsr-3845	88	10	8	8	NUM
fsr-3845	88	11	8	8	NUM
fsr-3845	88	12	rit	rit	NOUN
fsr-3845	88	13	=	=	SYM
fsr-3845	88	14	c	c	PROPN
fsr-3845	88	15	+	+	CCONJ
fsr-3845	88	16	p	p	PROPN
fsr-3845	88	17	ri	ri	PROPN
fsr-3845	88	18	,	,	PUNCT
fsr-3845	88	19	t	t	PROPN
fsr-3845	88	20	_	_	PUNCT
fsr-3845	89	1	l	l	PUNCT
fsr-3845	90	1	+	+	PUNCT
fsr-3845	90	2	£	£	SYM
fsr-3845	90	3	it	it	PRON
fsr-3845	90	4	(	(	PUNCT
fsr-3845	90	5	6	6	NUM
fsr-3845	90	6	)	)	PUNCT
fsr-3845	90	7	where	where	SCONJ
fsr-3845	90	8	rit	rit	NOUN
fsr-3845	90	9	,	,	PUNCT
fsr-3845	90	10	r	r	NOUN
fsr-3845	90	11	.	.	PUNCT
fsr-3845	91	1	,	,	PUNCT
fsr-3845	91	2	tit	tit	NOUN
fsr-3845	91	3	=	=	NOUN
fsr-3845	91	4	year	year	NOUN
fsr-3845	91	5	t	t	X
fsr-3845	91	6	characteristic	characteristic	ADV
fsr-3845	91	7	-	-	PUNCT
fsr-3845	91	8	adjusted	adjust	VERB
fsr-3845	91	9	returns	return	NOUN
fsr-3845	91	10	of	of	ADP
fsr-3845	91	11	fund	fund	NOUN
fsr-3845	91	12	i	i	PRON
fsr-3845	91	13	estimated	estimate	VERB
fsr-3845	91	14	from	from	ADP
fsr-3845	91	15	equations	equation	NOUN
fsr-3845	91	16	l	l	NOUN
fsr-3845	91	17	,	,	PUNCT
fsr-3845	91	18	2	2	NUM
fsr-3845	91	19	and	and	CCONJ
fsr-3845	91	20	3	3	NUM
fsr-3845	91	21	above	above	ADV
fsr-3845	91	22	;	;	PUNCT
fsr-3845	91	23	pct	pct	NOUN
fsr-3845	91	24	,	,	PUNCT
fsr-3845	91	25	p[~	p[~	PROPN
fsr-3845	91	26	,	,	PUNCT
fsr-3845	91	27	p8	p8	PROPN
fsr-3845	91	28	=	=	PUNCT
fsr-3845	91	29	first	first	ADJ
fsr-3845	91	30	-	-	PUNCT
fsr-3845	91	31	order	order	NOUN
fsr-3845	91	32	serial	serial	ADJ
fsr-3845	91	33	correlation	correlation	NOUN
fsr-3845	91	34	coefficients	coefficient	NOUN
fsr-3845	91	35	;	;	PUNCT
fsr-3845	91	36	eit	eit	NOUN
fsr-3845	91	37	,	,	PUNCT
fsr-3845	91	38	£	£	SYM
fsr-3845	91	39	it	it	PRON
fsr-3845	91	40	,	,	PUNCT
fsr-3845	91	41	eit	eit	PROPN
fsr-3845	91	42	=	=	NOUN
fsr-3845	91	43	year	year	NOUN
fsr-3845	91	44	t	t	NOUN
fsr-3845	91	45	regression	regression	NOUN
fsr-3845	91	46	residuals	residual	NOUN
fsr-3845	91	47	estimated	estimate	VERB
fsr-3845	91	48	from	from	ADP
fsr-3845	91	49	equations	equation	NOUN
fsr-3845	91	50	4	4	NUM
fsr-3845	91	51	,	,	PUNCT
fsr-3845	91	52	5	5	NUM
fsr-3845	91	53	,	,	PUNCT
fsr-3845	91	54	and	and	CCONJ
fsr-3845	91	55	6	6	NUM
fsr-3845	91	56	.	.	X
fsr-3845	92	1	if	if	SCONJ
fsr-3845	92	2	the	the	DET
fsr-3845	92	3	size	size	NOUN
fsr-3845	92	4	and	and	CCONJ
fsr-3845	92	5	style	style	NOUN
fsr-3845	92	6	characteristics	characteristic	NOUN
fsr-3845	92	7	in	in	ADP
fsr-3845	92	8	equations	equation	NOUN
fsr-3845	92	9	l	l	PROPN
fsr-3845	92	10	,	,	PUNCT
fsr-3845	92	11	2	2	NUM
fsr-3845	92	12	,	,	PUNCT
fsr-3845	92	13	and	and	CCONJ
fsr-3845	92	14	3	3	NUM
fsr-3845	92	15	explain	explain	VERB
fsr-3845	92	16	the	the	DET
fsr-3845	92	17	persistence	persistence	NOUN
fsr-3845	92	18	in	in	ADP
fsr-3845	92	19	mutual	mutual	ADJ
fsr-3845	92	20	fund	fund	NOUN
fsr-3845	92	21	performance	performance	NOUN
fsr-3845	92	22	,	,	PUNCT
fsr-3845	92	23	there	there	PRON
fsr-3845	92	24	will	will	AUX
fsr-3845	92	25	be	be	AUX
fsr-3845	92	26	no	no	DET
fsr-3845	92	27	serial	serial	ADJ
fsr-3845	92	28	correlation	correlation	NOUN
fsr-3845	92	29	between	between	ADP
fsr-3845	92	30	adjusted	adjust	VERB
fsr-3845	92	31	fund	fund	NOUN
fsr-3845	92	32	returns	return	NOUN
fsr-3845	92	33	in	in	ADP
fsr-3845	92	34	year	year	NOUN
fsr-3845	92	35	t	t	PROPN
fsr-3845	92	36	and	and	CCONJ
fsr-3845	92	37	year	year	PROPN
fsr-3845	92	38	t	t	PROPN
fsr-3845	92	39	1	1	NUM
fsr-3845	92	40	,	,	PUNCT
fsr-3845	92	41	and	and	CCONJ
fsr-3845	92	42	the	the	DET
fsr-3845	92	43	p	p	NOUN
fsr-3845	92	44	-	-	PUNCT
fsr-3845	92	45	coefficients	coefficient	NOUN
fsr-3845	92	46	will	will	AUX
fsr-3845	92	47	be	be	AUX
fsr-3845	92	48	insignificantly	insignificantly	ADV
fsr-3845	92	49	different	different	ADJ
fsr-3845	92	50	from	from	ADP
fsr-3845	92	51	zero	zero	NUM
fsr-3845	92	52	.	.	PUNCT
fsr-3845	93	1	finding	find	VERB
fsr-3845	93	2	no	no	DET
fsr-3845	93	3	serial	serial	ADJ
fsr-3845	93	4	correlation	correlation	NOUN
fsr-3845	93	5	supports	support	VERB
fsr-3845	93	6	the	the	DET
fsr-3845	93	7	hypothesis	hypothesis	NOUN
fsr-3845	93	8	that	that	PRON
fsr-3845	93	9	the	the	DET
fsr-3845	93	10	characteristics	characteristic	NOUN
fsr-3845	93	11	of	of	ADP
fsr-3845	93	12	stocks	stock	NOUN
fsr-3845	93	13	held	hold	VERB
fsr-3845	93	14	by	by	ADP
fsr-3845	93	15	funds	fund	NOUN
fsr-3845	93	16	explain	explain	VERB
fsr-3845	93	17	the	the	DET
fsr-3845	93	18	persistence	persistence	NOUN
fsr-3845	93	19	in	in	ADP
fsr-3845	93	20	mutual	mutual	ADJ
fsr-3845	93	21	fund	fund	NOUN
fsr-3845	93	22	returns	return	NOUN
fsr-3845	93	23	.	.	PUNCT
fsr-3845	94	1	ill	ill	ADJ
fsr-3845	94	2	empirical	empirical	ADJ
fsr-3845	94	3	results	result	NOUN
fsr-3845	94	4	table	table	NOUN
fsr-3845	94	5	1	1	NUM
fsr-3845	94	6	reports	report	NOUN
fsr-3845	94	7	average	average	ADJ
fsr-3845	94	8	descriptive	descriptive	ADJ
fsr-3845	94	9	statistics	statistic	NOUN
fsr-3845	94	10	for	for	ADP
fsr-3845	94	11	the	the	DET
fsr-3845	94	12	funds	fund	NOUN
fsr-3845	94	13	in	in	ADP
fsr-3845	94	14	the	the	DET
fsr-3845	94	15	sample	sample	NOUN
fsr-3845	94	16	over	over	ADP
fsr-3845	94	17	the	the	DET
fsr-3845	94	18	period	period	NOUN
fsr-3845	94	19	1975	1975	NUM
fsr-3845	94	20	-	-	SYM
fsr-3845	94	21	1995	1995	NUM
fsr-3845	94	22	.	.	PUNCT
fsr-3845	95	1	there	there	PRON
fsr-3845	95	2	is	be	VERB
fsr-3845	95	3	considerable	considerable	ADJ
fsr-3845	95	4	variation	variation	NOUN
fsr-3845	95	5	among	among	ADP
fsr-3845	95	6	fund	fund	NOUN
fsr-3845	95	7	characteristics	characteristic	NOUN
fsr-3845	95	8	.	.	PUNCT
fsr-3845	96	1	for	for	ADP
fsr-3845	96	2	example	example	NOUN
fsr-3845	96	3	,	,	PUNCT
fsr-3845	96	4	mutual	mutual	ADJ
fsr-3845	96	5	fund	fund	NOUN
fsr-3845	96	6	market	market	NOUN
fsr-3845	96	7	risk	risk	NOUN
fsr-3845	96	8	(	(	PUNCT
fsr-3845	96	9	beta	beta	NOUN
fsr-3845	96	10	)	)	PUNCT
fsr-3845	96	11	ranges	range	VERB
fsr-3845	96	12	from	from	ADP
fsr-3845	96	13	0.50	0.50	NUM
fsr-3845	96	14	to	to	ADP
fsr-3845	96	15	1.60	1.60	NUM
fsr-3845	96	16	.	.	PUNCT
fsr-3845	97	1	the	the	DET
fsr-3845	97	2	average	average	ADJ
fsr-3845	97	3	expense	expense	NOUN
fsr-3845	97	4	ratios	ratio	NOUN
fsr-3845	97	5	dis	di	NOUN
fsr-3845	97	6	play	play	VERB
fsr-3845	97	7	substantial	substantial	ADJ
fsr-3845	97	8	variation	variation	NOUN
fsr-3845	97	9	as	as	ADV
fsr-3845	97	10	well	well	ADV
fsr-3845	97	11	,	,	PUNCT
fsr-3845	97	12	ranging	range	VERB
fsr-3845	97	13	from	from	ADP
fsr-3845	97	14	0.30	0.30	NUM
fsr-3845	97	15	percent	percent	NOUN
fsr-3845	97	16	to	to	ADP
fsr-3845	97	17	1.88	1.88	NUM
fsr-3845	97	18	percent	percent	NOUN
fsr-3845	97	19	of	of	ADP
fsr-3845	97	20	net	net	ADJ
fsr-3845	97	21	assets	asset	NOUN
fsr-3845	97	22	.	.	PUNCT
fsr-3845	98	1	the	the	DET
fsr-3845	98	2	size	size	NOUN
fsr-3845	98	3	and	and	CCONJ
fsr-3845	98	4	style	style	NOUN
fsr-3845	98	5	characteristics	characteristic	NOUN
fsr-3845	98	6	of	of	ADP
fsr-3845	98	7	the	the	DET
fsr-3845	98	8	stocks	stock	NOUN
fsr-3845	98	9	held	hold	VERB
fsr-3845	98	10	by	by	ADP
fsr-3845	98	11	funds	fund	NOUN
fsr-3845	98	12	in	in	ADP
fsr-3845	98	13	the	the	DET
fsr-3845	98	14	sample	sample	NOUN
fsr-3845	98	15	also	also	ADV
fsr-3845	98	16	differ	differ	VERB
fsr-3845	98	17	con	con	PROPN
fsr-3845	98	18	siderably	siderably	ADV
fsr-3845	98	19	.	.	PUNCT
fsr-3845	99	1	the	the	DET
fsr-3845	99	2	mean	mean	ADJ
fsr-3845	99	3	market	market	NOUN
fsr-3845	99	4	value	value	NOUN
fsr-3845	99	5	of	of	ADP
fsr-3845	99	6	the	the	DET
fsr-3845	99	7	stocks	stock	NOUN
fsr-3845	99	8	in	in	ADP
fsr-3845	99	9	each	each	DET
fsr-3845	99	10	fund	fund	NOUN
fsr-3845	99	11	ranges	range	VERB
fsr-3845	99	12	from	from	ADP
fsr-3845	99	13	$	$	SYM
fsr-3845	99	14	66	66	NUM
fsr-3845	99	15	million	million	NUM
fsr-3845	99	16	to	to	PART
fsr-3845	99	17	$	$	SYM
fsr-3845	99	18	8.1	8.1	NUM
fsr-3845	99	19	billion	billion	NUM
fsr-3845	99	20	,	,	PUNCT
fsr-3845	99	21	while	while	SCONJ
fsr-3845	99	22	the	the	DET
fsr-3845	99	23	mean	mean	NOUN
fsr-3845	99	24	book	book	NOUN
fsr-3845	99	25	-	-	PUNCT
fsr-3845	99	26	to	to	ADP
fsr-3845	99	27	-	-	PUNCT
fsr-3845	99	28	market	market	NOUN
fsr-3845	99	29	ratio	ratio	NOUN
fsr-3845	99	30	ranges	range	VERB
fsr-3845	99	31	from	from	ADP
fsr-3845	99	32	0.20	0.20	NUM
fsr-3845	99	33	to	to	ADP
fsr-3845	99	34	0.98	0.98	NUM
fsr-3845	99	35	.	.	PUNCT
fsr-3845	100	1	the	the	DET
fsr-3845	100	2	sample	sample	NOUN
fsr-3845	100	3	includes	include	VERB
fsr-3845	100	4	funds	fund	NOUN
fsr-3845	100	5	with	with	ADP
fsr-3845	100	6	preferences	preference	NOUN
fsr-3845	100	7	for	for	ADP
fsr-3845	100	8	both	both	CCONJ
fsr-3845	100	9	small	small	ADJ
fsr-3845	100	10	and	and	CCONJ
fsr-3845	100	11	large	large	ADJ
fsr-3845	100	12	stocks	stock	NOUN
fsr-3845	100	13	as	as	ADV
fsr-3845	100	14	well	well	ADV
fsr-3845	100	15	as	as	ADP
fsr-3845	100	16	growth	growth	NOUN
fsr-3845	100	17	and	and	CCONJ
fsr-3845	100	18	value	value	NOUN
fsr-3845	100	19	investing	investing	NOUN
fsr-3845	100	20	.	.	PUNCT
fsr-3845	101	1	the	the	DET
fsr-3845	101	2	average	average	ADJ
fsr-3845	101	3	annual	annual	ADJ
fsr-3845	101	4	total	total	ADJ
fsr-3845	101	5	return	return	NOUN
fsr-3845	101	6	of	of	ADP
fsr-3845	101	7	the	the	DET
fsr-3845	101	8	funds	fund	NOUN
fsr-3845	101	9	in	in	ADP
fsr-3845	101	10	the	the	DET
fsr-3845	101	11	sample	sample	NOUN
fsr-3845	101	12	varies	vary	VERB
fsr-3845	101	13	widely	widely	ADV
fsr-3845	101	14	,	,	PUNCT
fsr-3845	101	15	ranging	range	VERB
fsr-3845	101	16	from	from	ADP
fsr-3845	101	17	-2.4	-2.4	NOUN
fsr-3845	101	18	to	to	ADP
fsr-3845	101	19	41.1	41.1	NUM
fsr-3845	101	20	percent	percent	NOUN
fsr-3845	101	21	.	.	PUNCT
fsr-3845	102	1	table	table	NOUN
fsr-3845	102	2	2	2	NUM
fsr-3845	102	3	reports	report	NOUN
fsr-3845	102	4	results	result	VERB
fsr-3845	102	5	from	from	ADP
fsr-3845	102	6	the	the	DET
fsr-3845	102	7	three	three	NUM
fsr-3845	102	8	characteristic	characteristic	ADJ
fsr-3845	102	9	-	-	PUNCT
fsr-3845	102	10	model	model	NOUN
fsr-3845	102	11	regressions	regression	NOUN
fsr-3845	102	12	(	(	PUNCT
fsr-3845	102	13	equations	equation	NOUN
fsr-3845	102	14	1	1	NUM
fsr-3845	102	15	,	,	PUNCT
fsr-3845	102	16	2	2	NUM
fsr-3845	102	17	,	,	PUNCT
fsr-3845	102	18	and	and	CCONJ
fsr-3845	102	19	3	3	NUM
fsr-3845	102	20	)	)	PUNCT
fsr-3845	102	21	.	.	PUNCT
fsr-3845	103	1	the	the	DET
fsr-3845	103	2	results	result	NOUN
fsr-3845	103	3	suggest	suggest	VERB
fsr-3845	103	4	that	that	SCONJ
fsr-3845	103	5	the	the	DET
fsr-3845	103	6	characteristics	characteristic	NOUN
fsr-3845	103	7	of	of	ADP
fsr-3845	103	8	the	the	DET
fsr-3845	103	9	stocks	stock	NOUN
fsr-3845	103	10	held	hold	VERB
fsr-3845	103	11	by	by	ADP
fsr-3845	103	12	mutual	mutual	ADJ
fsr-3845	103	13	funds	fund	NOUN
fsr-3845	103	14	are	be	AUX
fsr-3845	103	15	useful	useful	ADJ
fsr-3845	103	16	in	in	ADP
fsr-3845	103	17	explaining	explain	VERB
fsr-3845	103	18	annual	annual	ADJ
fsr-3845	103	19	fund	fund	NOUN
fsr-3845	103	20	returns	return	NOUN
fsr-3845	103	21	.	.	PUNCT
fsr-3845	104	1	across	across	ADP
fsr-3845	104	2	all	all	DET
fsr-3845	104	3	three	three	NUM
fsr-3845	104	4	models	model	NOUN
fsr-3845	104	5	,	,	PUNCT
fsr-3845	104	6	mutual	mutual	ADJ
fsr-3845	104	7	fund	fund	NOUN
fsr-3845	104	8	returns	return	NOUN
fsr-3845	104	9	are	be	AUX
fsr-3845	104	10	positively	positively	ADV
fsr-3845	104	11	related	relate	VERB
fsr-3845	104	12	to	to	ADP
fsr-3845	104	13	beta	beta	NOUN
fsr-3845	104	14	at	at	ADP
fsr-3845	104	15	the	the	DET
fsr-3845	104	16	one	one	NUM
fsr-3845	104	17	percent	percent	NOUN
fsr-3845	104	18	level	level	NOUN
fsr-3845	104	19	.	.	PUNCT
fsr-3845	105	1	mutual	mutual	ADJ
fsr-3845	105	2	fund	fund	NOUN
fsr-3845	105	3	expense	expense	NOUN
fsr-3845	105	4	ratios	ratio	NOUN
fsr-3845	105	5	are	be	AUX
fsr-3845	105	6	also	also	ADV
fsr-3845	105	7	sig	sig	NOUN
fsr-3845	105	8	50	50	NUM
fsr-3845	105	9	financial	financial	ADJ
fsr-3845	105	10	services	service	NOUN
fsr-3845	105	11	review	review	VERB
fsr-3845	105	12	7(1	7(1	NUM
fsr-3845	105	13	)	)	PUNCT
fsr-3845	105	14	1998	1998	NUM
fsr-3845	105	15	table	table	NOUN
fsr-3845	105	16	1	1	NUM
fsr-3845	105	17	sample	sample	NOUN
fsr-3845	105	18	descriptive	descriptive	ADJ
fsr-3845	105	19	statistics	statistic	NOUN
fsr-3845	105	20	return	return	VERB
fsr-3845	105	21	mkt	mkt	PROPN
fsr-3845	105	22	cap	cap	PROPN
fsr-3845	105	23	b	b	PROPN
fsr-3845	105	24	/	/	SYM
fsr-3845	105	25	m	m	PROPN
fsr-3845	105	26	elm	elm	NOUN
fsr-3845	105	27	cf	cf	NOUN
fsr-3845	105	28	/	/	SYM
fsr-3845	105	29	m	m	NOUN
fsr-3845	105	30	beta	beta	NOUN
fsr-3845	105	31	exp	exp	NOUN
fsr-3845	105	32	net	net	ADJ
fsr-3845	105	33	assets	asset	NOUN
fsr-3845	105	34	mean	mean	VERB
fsr-3845	105	35	16.9	16.9	NUM
fsr-3845	105	36	2680	2680	NUM
fsr-3845	105	37	0.55	0.55	NUM
fsr-3845	105	38	0.08	0.08	NUM
fsr-3845	105	39	0	0	NUM
fsr-3845	105	40	.14	.14	NUM
fsr-3845	105	41	1.04	1.04	NUM
fsr-3845	105	42	0.95	0.95	NUM
fsr-3845	105	43	453.48	453.48	NUM
fsr-3845	105	44	min	min	NOUN
fsr-3845	105	45	imum	imum	ADJ
fsr-3845	105	46	2	2	NUM
fsr-3845	105	47	.	.	PUNCT
fsr-3845	105	48	4	4	NUM
fsr-3845	105	49	66	66	NUM
fsr-3845	105	50	0.25	0.25	NUM
fsr-3845	105	51	0.05	0.05	NUM
fsr-3845	105	52	0.06	0.06	NUM
fsr-3845	105	53	0	0	NUM
fsr-3845	106	1	.50	.50	NUM
fsr-3845	106	2	0	0	NUM
fsr-3845	106	3	.30	.30	NUM
fsr-3845	106	4	12.33	12.33	NUM
fsr-3845	107	1	i	i	PRON
fsr-3845	107	2	st	st	PROPN
fsr-3845	107	3	q	q	X
fsr-3845	107	4	u	u	PROPN
fsr-3845	107	5	a	a	DET
fsr-3845	107	6	r	r	NOUN
fsr-3845	107	7	t	t	NOUN
fsr-3845	108	1	i	i	NOUN
fsr-3845	108	2	l	l	NOUN
fsr-3845	108	3	e	e	NOUN
fsr-3845	108	4	11.2	11.2	NUM
fsr-3845	108	5	1112	1112	NUM
fsr-3845	108	6	0	0	NUM
fsr-3845	108	7	.40	.40	NUM
fsr-3845	108	8	0.07	0.07	NUM
fsr-3845	108	9	0	0	NUM
fsr-3845	108	10	.10	.10	NUM
fsr-3845	108	11	0	0	NUM
fsr-3845	108	12	.90	.90	NUM
fsr-3845	108	13	0	0	NUM
fsr-3845	108	14	.70	.70	NUM
fsr-3845	108	15	56.97	56.97	NUM
fsr-3845	108	16	median	median	NOUN
fsr-3845	108	17	16.1	16.1	NUM
fsr-3845	108	18	2468	2468	NUM
fsr-3845	108	19	0.52	0.52	NUM
fsr-3845	108	20	0.08	0.08	NUM
fsr-3845	108	21	0	0	NUM
fsr-3845	108	22	.14	.14	NUM
fsr-3845	108	23	1.00	1.00	NUM
fsr-3845	108	24	0.93	0.93	NUM
fsr-3845	108	25	156.11	156.11	NUM
fsr-3845	108	26	3	3	NUM
fsr-3845	108	27	rd	rd	NOUN
fsr-3845	108	28	q	q	PROPN
fsr-3845	108	29	u	u	PROPN
fsr-3845	108	30	a	a	DET
fsr-3845	108	31	r	r	NOUN
fsr-3845	108	32	t	t	NOUN
fsr-3845	109	1	i	i	NOUN
fsr-3845	109	2	l	l	NOUN
fsr-3845	109	3	e	e	NOUN
fsr-3845	109	4	21.9	21.9	NUM
fsr-3845	109	5	3924	3924	NUM
fsr-3845	109	6	0.67	0.67	NUM
fsr-3845	109	7	0.09	0.09	NUM
fsr-3845	109	8	0.17	0.17	NUM
fsr-3845	109	9	1.20	1.20	NUM
fsr-3845	109	10	1.14	1.14	NUM
fsr-3845	109	11	378.57	378.57	NUM
fsr-3845	109	12	m	m	NOUN
fsr-3845	109	13	a	a	PRON
fsr-3845	109	14	x	x	X
fsr-3845	109	15	i	i	PRON
fsr-3845	109	16	m	m	VERB
fsr-3845	109	17	u	u	NOUN
fsr-3845	109	18	m	m	VERB
fsr-3845	109	19	41.1	41.1	NUM
fsr-3845	109	20	8137	8137	NUM
fsr-3845	109	21	0.98	0.98	NUM
fsr-3845	109	22	0.12	0.12	NUM
fsr-3845	109	23	0.23	0.23	NUM
fsr-3845	109	24	1.60	1.60	NUM
fsr-3845	109	25	1.88	1.88	NUM
fsr-3845	109	26	4999	4999	NUM
fsr-3845	109	27	.60	.60	NUM
fsr-3845	109	28	standard	standard	ADJ
fsr-3845	109	29	deviat	deviat	NOUN
fsr-3845	109	30	ion	ion	NOUN
fsr-3845	109	31	8.8	8.8	NUM
fsr-3845	109	32	1970	1970	NUM
fsr-3845	109	33	0.18	0.18	NUM
fsr-3845	109	34	0.02	0.02	NUM
fsr-3845	109	35	0.04	0.04	NUM
fsr-3845	109	36	0.21	0.21	NUM
fsr-3845	109	37	0.32	0.32	NUM
fsr-3845	109	38	909.0	909.0	NUM
fsr-3845	109	39	notes	note	NOUN
fsr-3845	109	40	:	:	PUNCT
fsr-3845	109	41	this	this	DET
fsr-3845	109	42	table	table	NOUN
fsr-3845	109	43	reports	report	VERB
fsr-3845	109	44	descriptive	descriptive	ADJ
fsr-3845	109	45	statistics	statistic	NOUN
fsr-3845	109	46	for	for	ADP
fsr-3845	109	47	the	the	DET
fsr-3845	109	48	sample	sample	NOUN
fsr-3845	109	49	of	of	ADP
fsr-3845	109	50	61	61	NUM
fsr-3845	109	51	mutual	mutual	ADJ
fsr-3845	109	52	funds	fund	NOUN
fsr-3845	109	53	.	.	PUNCT
fsr-3845	110	1	average	average	ADJ
fsr-3845	110	2	statistics	statistic	NOUN
fsr-3845	110	3	are	be	AUX
fsr-3845	110	4	reported	report	VERB
fsr-3845	110	5	for	for	ADP
fsr-3845	110	6	each	each	DET
fsr-3845	110	7	fund	fund	NOUN
fsr-3845	110	8	using	use	VERB
fsr-3845	110	9	annual	annual	ADJ
fsr-3845	110	10	data	datum	NOUN
fsr-3845	110	11	from	from	ADP
fsr-3845	110	12	1975	1975	NUM
fsr-3845	110	13	-	-	SYM
fsr-3845	110	14	1995	1995	NUM
fsr-3845	110	15	.	.	PUNCT
fsr-3845	111	1	variable	variable	ADJ
fsr-3845	111	2	definitions	definition	NOUN
fsr-3845	111	3	are	be	AUX
fsr-3845	111	4	given	give	VERB
fsr-3845	111	5	at	at	ADP
fsr-3845	111	6	the	the	DET
fsr-3845	111	7	bottom	bottom	NOUN
fsr-3845	111	8	of	of	ADP
fsr-3845	111	9	the	the	DET
fsr-3845	111	10	table	table	NOUN
fsr-3845	111	11	.	.	PUNCT
fsr-3845	112	1	definition	definition	NOUN
fsr-3845	112	2	of	of	ADP
fsr-3845	112	3	variables	variable	NOUN
fsr-3845	112	4	:	:	PUNCT
fsr-3845	112	5	return	return	NOUN
fsr-3845	112	6	=	=	SYM
fsr-3845	112	7	total	total	ADJ
fsr-3845	112	8	return	return	NOUN
fsr-3845	112	9	(	(	PUNCT
fsr-3845	112	10	percent	percent	NOUN
fsr-3845	112	11	)	)	PUNCT
fsr-3845	112	12	during	during	ADP
fsr-3845	112	13	each	each	DET
fsr-3845	112	14	year	year	NOUN
fsr-3845	112	15	t	t	NOUN
fsr-3845	112	16	;	;	PUNCT
fsr-3845	112	17	beta	beta	NOUN
fsr-3845	112	18	=	=	SYM
fsr-3845	112	19	mutual	mutual	ADJ
fsr-3845	112	20	fund	fund	NOUN
fsr-3845	112	21	market	market	NOUN
fsr-3845	112	22	risk	risk	NOUN
fsr-3845	112	23	estimated	estimate	VERB
fsr-3845	112	24	over	over	ADP
fsr-3845	112	25	the	the	DET
fsr-3845	112	26	thirty	thirty	NUM
fsr-3845	112	27	-	-	PUNCT
fsr-3845	112	28	six	six	NUM
fsr-3845	112	29	months	month	NOUN
fsr-3845	112	30	ending	end	VERB
fsr-3845	112	31	with	with	ADP
fsr-3845	112	32	each	each	DET
fsr-3845	112	33	year	year	NOUN
fsr-3845	112	34	t	t	PROPN
fsr-3845	112	35	1	1	NUM
fsr-3845	112	36	;	;	PUNCT
fsr-3845	112	37	exp	exp	NOUN
fsr-3845	112	38	=	=	PUNCT
fsr-3845	112	39	expense	expense	NOUN
fsr-3845	112	40	ratio	ratio	NOUN
fsr-3845	112	41	in	in	ADP
fsr-3845	112	42	each	each	DET
fsr-3845	112	43	year	year	NOUN
fsr-3845	112	44	;	;	PUNCT
fsr-3845	112	45	mkt	mkt	PROPN
fsr-3845	112	46	cap	cap	NOUN
fsr-3845	112	47	=	=	SYM
fsr-3845	112	48	median	median	ADJ
fsr-3845	112	49	market	market	NOUN
fsr-3845	112	50	value	value	NOUN
fsr-3845	112	51	(	(	PUNCT
fsr-3845	112	52	millions	million	NOUN
fsr-3845	112	53	of	of	ADP
fsr-3845	112	54	dollars	dollar	NOUN
fsr-3845	112	55	)	)	PUNCT
fsr-3845	112	56	of	of	ADP
fsr-3845	112	57	the	the	DET
fsr-3845	112	58	common	common	ADJ
fsr-3845	112	59	stocks	stock	NOUN
fsr-3845	112	60	held	hold	VERB
fsr-3845	112	61	at	at	ADP
fsr-3845	112	62	the	the	DET
fsr-3845	112	63	end	end	NOUN
fsr-3845	112	64	of	of	ADP
fsr-3845	112	65	each	each	DET
fsr-3845	112	66	year	year	NOUN
fsr-3845	112	67	;	;	PUNCT
fsr-3845	112	68	b	b	X
fsr-3845	112	69	/	/	SYM
fsr-3845	112	70	m	m	NOUN
fsr-3845	112	71	=	=	NOUN
fsr-3845	112	72	median	median	ADJ
fsr-3845	112	73	book	book	NOUN
fsr-3845	112	74	value	value	NOUN
fsr-3845	112	75	-	-	PUNCT
fsr-3845	112	76	to	to	ADP
fsr-3845	112	77	-	-	PUNCT
fsr-3845	112	78	market	market	NOUN
fsr-3845	112	79	value	value	NOUN
fsr-3845	112	80	of	of	ADP
fsr-3845	112	81	the	the	DET
fsr-3845	112	82	common	common	ADJ
fsr-3845	112	83	stocks	stock	NOUN
fsr-3845	112	84	held	hold	VERB
fsr-3845	112	85	at	at	ADP
fsr-3845	112	86	the	the	DET
fsr-3845	112	87	end	end	NOUN
fsr-3845	112	88	of	of	ADP
fsr-3845	112	89	each	each	DET
fsr-3845	112	90	year	year	NOUN
fsr-3845	112	91	;	;	PUNCT
fsr-3845	113	1	elm	elm	NOUN
fsr-3845	113	2	=	=	SYM
fsr-3845	113	3	median	median	ADJ
fsr-3845	113	4	earnings	earning	NOUN
fsr-3845	113	5	yield	yield	NOUN
fsr-3845	113	6	of	of	ADP
fsr-3845	113	7	the	the	DET
fsr-3845	113	8	common	common	ADJ
fsr-3845	113	9	stocks	stock	NOUN
fsr-3845	113	10	held	hold	VERB
fsr-3845	113	11	at	at	ADP
fsr-3845	113	12	the	the	DET
fsr-3845	113	13	end	end	NOUN
fsr-3845	113	14	of	of	ADP
fsr-3845	113	15	each	each	DET
fsr-3845	113	16	year	year	NOUN
fsr-3845	113	17	;	;	PUNCT
fsr-3845	113	18	earnings	earning	NOUN
fsr-3845	113	19	yiem	yiem	NOUN
fsr-3845	113	20	is	be	AUX
fsr-3845	113	21	income	income	NOUN
fsr-3845	113	22	before	before	ADP
fsr-3845	113	23	extraordinary	extraordinary	ADJ
fsr-3845	113	24	items	item	NOUN
fsr-3845	113	25	less	less	ADV
fsr-3845	113	26	preferred	preferred	ADJ
fsr-3845	113	27	dividends	dividend	NOUN
fsr-3845	113	28	divided	divide	VERB
fsr-3845	113	29	by	by	ADP
fsr-3845	113	30	common	common	ADJ
fsr-3845	113	31	stock	stock	NOUN
fsr-3845	113	32	market	market	NOUN
fsr-3845	113	33	value	value	NOUN
fsr-3845	113	34	;	;	PUNCT
fsr-3845	113	35	cf	cf	X
fsr-3845	113	36	/	/	SYM
fsr-3845	113	37	m	m	NOUN
fsr-3845	113	38	=	=	NOUN
fsr-3845	113	39	median	median	ADJ
fsr-3845	113	40	cash	cash	NOUN
fsr-3845	113	41	flow	flow	NOUN
fsr-3845	113	42	yield	yield	NOUN
fsr-3845	113	43	of	of	ADP
fsr-3845	113	44	the	the	DET
fsr-3845	113	45	common	common	ADJ
fsr-3845	113	46	stocks	stock	NOUN
fsr-3845	113	47	held	hold	VERB
fsr-3845	113	48	at	at	ADP
fsr-3845	113	49	the	the	DET
fsr-3845	113	50	end	end	NOUN
fsr-3845	113	51	of	of	ADP
fsr-3845	113	52	each	each	DET
fsr-3845	113	53	year	year	NOUN
fsr-3845	113	54	;	;	PUNCT
fsr-3845	113	55	cash	cash	NOUN
fsr-3845	113	56	flow	flow	NOUN
fsr-3845	113	57	yiem	yiem	NOUN
fsr-3845	113	58	is	be	AUX
fsr-3845	113	59	cash	cash	NOUN
fsr-3845	113	60	flow	flow	NOUN
fsr-3845	113	61	available	available	ADJ
fsr-3845	113	62	to	to	ADP
fsr-3845	113	63	common	common	ADJ
fsr-3845	113	64	stock	stock	NOUN
fsr-3845	113	65	divided	divide	VERB
fsr-3845	113	66	by	by	ADP
fsr-3845	113	67	common	common	ADJ
fsr-3845	113	68	stock	stock	NOUN
fsr-3845	113	69	market	market	NOUN
fsr-3845	113	70	value	value	NOUN
fsr-3845	113	71	.	.	PUNCT
fsr-3845	114	1	net	net	ADJ
fsr-3845	114	2	assets	asset	NOUN
fsr-3845	114	3	=	=	SYM
fsr-3845	114	4	mutual	mutual	ADJ
fsr-3845	114	5	fund	fund	NOUN
fsr-3845	114	6	net	net	ADJ
fsr-3845	114	7	assets	asset	NOUN
fsr-3845	114	8	(	(	PUNCT
fsr-3845	114	9	in	in	ADP
fsr-3845	114	10	millions	million	NOUN
fsr-3845	114	11	of	of	ADP
fsr-3845	114	12	dollars	dollar	NOUN
fsr-3845	114	13	)	)	PUNCT
fsr-3845	114	14	at	at	ADP
fsr-3845	114	15	the	the	DET
fsr-3845	114	16	end	end	NOUN
fsr-3845	114	17	of	of	ADP
fsr-3845	114	18	each	each	DET
fsr-3845	114	19	year	year	NOUN
fsr-3845	114	20	.	.	PUNCT
fsr-3845	115	1	nificant	nificant	ADJ
fsr-3845	115	2	in	in	ADP
fsr-3845	115	3	explaining	explain	VERB
fsr-3845	115	4	fund	fund	NOUN
fsr-3845	115	5	returns	return	NOUN
fsr-3845	115	6	.	.	PUNCT
fsr-3845	116	1	although	although	SCONJ
fsr-3845	116	2	the	the	DET
fsr-3845	116	3	incomplete	incomplete	ADJ
fsr-3845	116	4	specification	specification	NOUN
fsr-3845	116	5	in	in	ADP
fsr-3845	116	6	model	model	NOUN
fsr-3845	116	7	1	1	NUM
fsr-3845	116	8	yields	yield	NOUN
fsr-3845	116	9	an	an	DET
fsr-3845	116	10	unexpected	unexpected	ADJ
fsr-3845	116	11	positive	positive	ADJ
fsr-3845	116	12	coefficient	coefficient	NOUN
fsr-3845	116	13	,	,	PUNCT
fsr-3845	116	14	the	the	DET
fsr-3845	116	15	more	more	ADV
fsr-3845	116	16	complete	complete	ADJ
fsr-3845	116	17	specifications	specification	NOUN
fsr-3845	116	18	of	of	ADP
fsr-3845	116	19	models	model	NOUN
fsr-3845	116	20	2	2	NUM
fsr-3845	116	21	and	and	CCONJ
fsr-3845	116	22	3	3	NUM
fsr-3845	116	23	produce	produce	VERB
fsr-3845	116	24	the	the	DET
fsr-3845	116	25	expected	expect	VERB
fsr-3845	116	26	negative	negative	ADJ
fsr-3845	116	27	coefficient	coefficient	NOUN
fsr-3845	116	28	(	(	PUNCT
fsr-3845	116	29	significant	significant	ADJ
fsr-3845	116	30	at	at	ADP
fsr-3845	116	31	the	the	DET
fsr-3845	116	32	five	five	NUM
fsr-3845	116	33	percent	percent	NOUN
fsr-3845	116	34	level	level	NOUN
fsr-3845	116	35	)	)	PUNCT
fsr-3845	116	36	.	.	PUNCT
fsr-3845	117	1	model	model	NOUN
fsr-3845	117	2	2	2	NUM
fsr-3845	117	3	also	also	ADV
fsr-3845	117	4	includes	include	VERB
fsr-3845	117	5	the	the	DET
fsr-3845	117	6	natural	natural	ADJ
fsr-3845	117	7	logarithm	logarithm	NOUN
fsr-3845	117	8	of	of	ADP
fsr-3845	117	9	the	the	DET
fsr-3845	117	10	median	median	ADJ
fsr-3845	117	11	market	market	NOUN
fsr-3845	117	12	capitalization	capitalization	NOUN
fsr-3845	117	13	of	of	ADP
fsr-3845	117	14	the	the	DET
fsr-3845	117	15	stocks	stock	NOUN
fsr-3845	117	16	in	in	ADP
fsr-3845	117	17	each	each	DET
fsr-3845	117	18	fund	fund	NOUN
fsr-3845	117	19	(	(	PUNCT
fsr-3845	117	20	size	size	NOUN
fsr-3845	117	21	)	)	PUNCT
fsr-3845	117	22	as	as	ADP
fsr-3845	117	23	an	an	DET
fsr-3845	117	24	explanatory	explanatory	ADJ
fsr-3845	117	25	variable	variable	NOUN
fsr-3845	117	26	.	.	PUNCT
fsr-3845	118	1	size	size	NOUN
fsr-3845	118	2	displays	display	VERB
fsr-3845	118	3	the	the	DET
fsr-3845	118	4	expected	expected	ADJ
fsr-3845	118	5	negative	negative	ADJ
fsr-3845	118	6	coefficient	coefficient	NOUN
fsr-3845	118	7	and	and	CCONJ
fsr-3845	118	8	is	be	AUX
fsr-3845	118	9	significant	significant	ADJ
fsr-3845	118	10	at	at	ADP
fsr-3845	118	11	the	the	DET
fsr-3845	118	12	one	one	NUM
fsr-3845	118	13	percent	percent	NOUN
fsr-3845	118	14	level	level	NOUN
fsr-3845	118	15	.	.	PUNCT
fsr-3845	119	1	the	the	DET
fsr-3845	119	2	size	size	NOUN
fsr-3845	119	3	variable	variable	NOUN
fsr-3845	119	4	improves	improve	VERB
fsr-3845	119	5	the	the	DET
fsr-3845	119	6	explanatory	explanatory	ADJ
fsr-3845	119	7	power	power	NOUN
fsr-3845	119	8	of	of	ADP
fsr-3845	119	9	the	the	DET
fsr-3845	119	10	model	model	NOUN
fsr-3845	119	11	,	,	PUNCT
fsr-3845	119	12	with	with	ADP
fsr-3845	119	13	the	the	DET
fsr-3845	119	14	average	average	ADJ
fsr-3845	119	15	adjusted	adjust	VERB
fsr-3845	119	16	r	r	NOUN
fsr-3845	119	17	2	2	NUM
fsr-3845	119	18	increasing	increase	VERB
fsr-3845	119	19	from	from	ADP
fsr-3845	119	20	15	15	NUM
fsr-3845	119	21	to	to	PART
fsr-3845	119	22	30	30	NUM
fsr-3845	119	23	per	per	ADP
fsr-3845	119	24	cent	cent	NOUN
fsr-3845	119	25	.	.	PUNCT
fsr-3845	120	1	model	model	NOUN
fsr-3845	120	2	3	3	NUM
fsr-3845	120	3	incorporates	incorporate	VERB
fsr-3845	120	4	the	the	DET
fsr-3845	120	5	median	median	ADJ
fsr-3845	120	6	values	value	NOUN
fsr-3845	120	7	of	of	ADP
fsr-3845	120	8	three	three	NUM
fsr-3845	120	9	financial	financial	ADJ
fsr-3845	120	10	statement	statement	NOUN
fsr-3845	120	11	ratios	ratio	NOUN
fsr-3845	120	12	intended	intend	VERB
fsr-3845	120	13	to	to	PART
fsr-3845	120	14	capture	capture	VERB
fsr-3845	120	15	fund	fund	NOUN
fsr-3845	120	16	manager	manager	NOUN
fsr-3845	120	17	investment	investment	NOUN
fsr-3845	120	18	style	style	NOUN
fsr-3845	120	19	:	:	PUNCT
fsr-3845	120	20	book	book	NOUN
fsr-3845	120	21	-	-	PUNCT
fsr-3845	120	22	to	to	ADP
fsr-3845	120	23	-	-	PUNCT
fsr-3845	120	24	market	market	NOUN
fsr-3845	120	25	(	(	PUNCT
fsr-3845	120	26	b	b	NOUN
fsr-3845	120	27	/	/	SYM
fsr-3845	120	28	m	m	NOUN
fsr-3845	120	29	)	)	PUNCT
fsr-3845	120	30	,	,	PUNCT
fsr-3845	120	31	earnings	earning	NOUN
fsr-3845	120	32	-	-	PUNCT
fsr-3845	120	33	to	to	ADP
fsr-3845	120	34	-	-	PUNCT
fsr-3845	120	35	market	market	NOUN
fsr-3845	120	36	(	(	PUNCT
fsr-3845	120	37	e	e	NOUN
fsr-3845	120	38	/	/	SYM
fsr-3845	120	39	m	m	NOUN
fsr-3845	120	40	)	)	PUNCT
fsr-3845	120	41	,	,	PUNCT
fsr-3845	120	42	and	and	CCONJ
fsr-3845	120	43	cash	cash	NOUN
fsr-3845	120	44	flow	flow	NOUN
fsr-3845	120	45	-	-	PUNCT
fsr-3845	120	46	to	to	ADP
fsr-3845	120	47	-	-	PUNCT
fsr-3845	120	48	market	market	NOUN
fsr-3845	120	49	(	(	PUNCT
fsr-3845	120	50	cf	cf	NOUN
fsr-3845	120	51	/	/	SYM
fsr-3845	120	52	m	m	NOUN
fsr-3845	120	53	)	)	PUNCT
fsr-3845	120	54	.	.	PUNCT
fsr-3845	121	1	while	while	SCONJ
fsr-3845	121	2	b	b	X
fsr-3845	121	3	/	/	SYM
fsr-3845	121	4	m	m	PROPN
fsr-3845	121	5	and	and	CCONJ
fsr-3845	121	6	e	e	X
fsr-3845	121	7	/	/	SYM
fsr-3845	121	8	m	m	AUX
fsr-3845	121	9	display	display	NOUN
fsr-3845	121	10	the	the	DET
fsr-3845	121	11	expected	expect	VERB
fsr-3845	121	12	positive	positive	ADJ
fsr-3845	121	13	coef	coef	NOUN
fsr-3845	121	14	ficient	ficient	NOUN
fsr-3845	121	15	,	,	PUNCT
fsr-3845	121	16	cf	cf	NOUN
fsr-3845	121	17	/	/	SYM
fsr-3845	121	18	m	m	NOUN
fsr-3845	121	19	is	be	AUX
fsr-3845	121	20	insignificant	insignificant	ADJ
fsr-3845	121	21	in	in	ADP
fsr-3845	121	22	the	the	DET
fsr-3845	121	23	regression	regression	NOUN
fsr-3845	121	24	.	.	PUNCT
fsr-3845	122	1	the	the	DET
fsr-3845	122	2	e	e	NOUN
fsr-3845	122	3	/	/	SYM
fsr-3845	122	4	m	m	PROPN
fsr-3845	122	5	and	and	CCONJ
fsr-3845	122	6	b	b	X
fsr-3845	122	7	/	/	SYM
fsr-3845	122	8	m	m	PROPN
fsr-3845	122	9	variables	variable	NOUN
fsr-3845	122	10	are	be	AUX
fsr-3845	122	11	significant	significant	ADJ
fsr-3845	122	12	at	at	ADP
fsr-3845	122	13	the	the	DET
fsr-3845	122	14	one	one	NUM
fsr-3845	122	15	percent	percent	NOUN
fsr-3845	122	16	level	level	NOUN
fsr-3845	122	17	.	.	PUNCT
fsr-3845	123	1	the	the	DET
fsr-3845	123	2	adjusted	adjusted	ADJ
fsr-3845	123	3	r	r	NOUN
fsr-3845	123	4	2	2	NUM
fsr-3845	123	5	of	of	ADP
fsr-3845	123	6	42	42	NUM
fsr-3845	123	7	percent	percent	NOUN
fsr-3845	123	8	indicates	indicate	VERB
fsr-3845	123	9	that	that	SCONJ
fsr-3845	123	10	inclusion	inclusion	NOUN
fsr-3845	123	11	of	of	ADP
fsr-3845	123	12	these	these	DET
fsr-3845	123	13	vari	vari	ADJ
fsr-3845	123	14	ables	able	NOUN
fsr-3845	123	15	substantially	substantially	ADV
fsr-3845	123	16	improves	improve	VERB
fsr-3845	123	17	the	the	DET
fsr-3845	123	18	fit	fit	NOUN
fsr-3845	123	19	of	of	ADP
fsr-3845	123	20	the	the	DET
fsr-3845	123	21	model	model	NOUN
fsr-3845	123	22	.	.	PUNCT
fsr-3845	124	1	these	these	DET
fsr-3845	124	2	findings	finding	NOUN
fsr-3845	124	3	provide	provide	VERB
fsr-3845	124	4	support	support	NOUN
fsr-3845	124	5	for	for	ADP
fsr-3845	124	6	the	the	DET
fsr-3845	124	7	idea	idea	NOUN
fsr-3845	124	8	that	that	SCONJ
fsr-3845	124	9	annual	annual	ADJ
fsr-3845	124	10	mutual	mutual	ADJ
fsr-3845	124	11	fund	fund	NOUN
fsr-3845	124	12	returns	return	NOUN
fsr-3845	124	13	are	be	AUX
fsr-3845	124	14	related	relate	VERB
fsr-3845	124	15	to	to	ADP
fsr-3845	124	16	the	the	DET
fsr-3845	124	17	size	size	NOUN
fsr-3845	124	18	and	and	CCONJ
fsr-3845	124	19	style	style	NOUN
fsr-3845	124	20	characteristics	characteristic	NOUN
fsr-3845	124	21	of	of	ADP
fsr-3845	124	22	the	the	DET
fsr-3845	124	23	stocks	stock	NOUN
fsr-3845	124	24	held	hold	VERB
fsr-3845	124	25	by	by	ADP
fsr-3845	124	26	funds	fund	NOUN
fsr-3845	124	27	.	.	PUNCT
fsr-3845	125	1	table	table	NOUN
fsr-3845	125	2	3	3	NUM
fsr-3845	125	3	reports	report	NOUN
fsr-3845	125	4	average	average	ADJ
fsr-3845	125	5	serial	serial	ADJ
fsr-3845	125	6	correlation	correlation	NOUN
fsr-3845	125	7	coefficients	coefficient	NOUN
fsr-3845	125	8	between	between	ADP
fsr-3845	125	9	mutual	mutual	ADJ
fsr-3845	125	10	fund	fund	NOUN
fsr-3845	125	11	returns	return	NOUN
fsr-3845	125	12	in	in	ADP
fsr-3845	125	13	years	year	NOUN
fsr-3845	125	14	t	t	PROPN
fsr-3845	125	15	and	and	CCONJ
fsr-3845	125	16	t	t	PROPN
fsr-3845	125	17	1	1	NUM
fsr-3845	125	18	.	.	PUNCT
fsr-3845	126	1	the	the	DET
fsr-3845	126	2	correlations	correlation	NOUN
fsr-3845	126	3	are	be	AUX
fsr-3845	126	4	estimated	estimate	VERB
fsr-3845	126	5	using	use	VERB
fsr-3845	126	6	the	the	DET
fsr-3845	126	7	models	model	NOUN
fsr-3845	126	8	shown	show	VERB
fsr-3845	126	9	in	in	ADP
fsr-3845	126	10	equations	equation	NOUN
fsr-3845	126	11	4	4	NUM
fsr-3845	126	12	,	,	PUNCT
fsr-3845	126	13	5	5	NUM
fsr-3845	126	14	,	,	PUNCT
fsr-3845	126	15	and	and	CCONJ
fsr-3845	127	1	6	6	NUM
fsr-3845	127	2	.	.	NOUN
fsr-3845	128	1	results	result	NOUN
fsr-3845	128	2	are	be	AUX
fsr-3845	128	3	reported	report	VERB
fsr-3845	128	4	for	for	ADP
fsr-3845	128	5	both	both	CCONJ
fsr-3845	128	6	raw	raw	ADJ
fsr-3845	128	7	mutual	mutual	ADJ
fsr-3845	128	8	fund	fund	NOUN
fsr-3845	128	9	returns	return	NOUN
fsr-3845	128	10	and	and	CCONJ
fsr-3845	128	11	for	for	ADP
fsr-3845	128	12	fund	fund	NOUN
fsr-3845	128	13	returns	return	NOUN
fsr-3845	128	14	that	that	PRON
fsr-3845	128	15	have	have	AUX
fsr-3845	128	16	been	be	AUX
fsr-3845	128	17	adjusted	adjust	VERB
fsr-3845	128	18	for	for	ADP
fsr-3845	128	19	fund	fund	NOUN
fsr-3845	128	20	size	size	NOUN
fsr-3845	128	21	and	and	CCONJ
fsr-3845	128	22	style	style	NOUN
fsr-3845	128	23	characteristics	characteristic	NOUN
fsr-3845	128	24	using	use	VERB
fsr-3845	128	25	the	the	DET
fsr-3845	128	26	regression	regression	NOUN
fsr-3845	128	27	models	model	NOUN
fsr-3845	128	28	shown	show	VERB
fsr-3845	128	29	in	in	ADP
fsr-3845	128	30	equations	equation	NOUN
fsr-3845	128	31	1	1	NUM
fsr-3845	128	32	,	,	PUNCT
fsr-3845	128	33	2	2	NUM
fsr-3845	128	34	,	,	PUNCT
fsr-3845	128	35	and	and	CCONJ
fsr-3845	128	36	3	3	X
fsr-3845	128	37	.	.	X
fsr-3845	128	38	panel	panel	NOUN
fsr-3845	128	39	a	a	PRON
fsr-3845	128	40	of	of	ADP
fsr-3845	128	41	table	table	NOUN
fsr-3845	128	42	3	3	NUM
fsr-3845	128	43	reports	report	NOUN
fsr-3845	128	44	results	result	VERB
fsr-3845	128	45	for	for	ADP
fsr-3845	128	46	the	the	DET
fsr-3845	128	47	period	period	NOUN
fsr-3845	128	48	1976	1976	NUM
fsr-3845	128	49	-	-	SYM
fsr-3845	128	50	1995	1995	NUM
fsr-3845	128	51	,	,	PUNCT
fsr-3845	128	52	while	while	SCONJ
fsr-3845	128	53	panels	panel	NOUN
fsr-3845	128	54	b	b	PROPN
fsr-3845	128	55	and	and	CCONJ
fsr-3845	128	56	c	c	PROPN
fsr-3845	128	57	report	report	NOUN
fsr-3845	128	58	results	result	NOUN
fsr-3845	128	59	for	for	ADP
fsr-3845	128	60	the	the	DET
fsr-3845	128	61	1976	1976	NUM
fsr-3845	128	62	-	-	SYM
fsr-3845	128	63	1985	1985	NUM
fsr-3845	128	64	and	and	CCONJ
fsr-3845	128	65	1986	1986	NUM
fsr-3845	128	66	-	-	SYM
fsr-3845	128	67	1995	1995	NUM
fsr-3845	128	68	periods	period	NOUN
fsr-3845	128	69	,	,	PUNCT
fsr-3845	128	70	respectively	respectively	ADV
fsr-3845	128	71	.	.	PUNCT
fsr-3845	129	1	the	the	DET
fsr-3845	129	2	results	result	NOUN
fsr-3845	129	3	reported	report	VERB
fsr-3845	129	4	in	in	ADP
fsr-3845	129	5	panel	panel	NOUN
fsr-3845	129	6	a	a	DET
fsr-3845	129	7	show	show	NOUN
fsr-3845	129	8	that	that	SCONJ
fsr-3845	129	9	,	,	PUNCT
fsr-3845	129	10	for	for	ADP
fsr-3845	129	11	the	the	DET
fsr-3845	129	12	entire	entire	ADJ
fsr-3845	129	13	20	20	NUM
fsr-3845	129	14	-	-	PUNCT
fsr-3845	129	15	year	year	NOUN
fsr-3845	129	16	period	period	NOUN
fsr-3845	129	17	,	,	PUNCT
fsr-3845	129	18	the	the	DET
fsr-3845	129	19	mean	mean	ADJ
fsr-3845	129	20	annual	annual	ADJ
fsr-3845	129	21	serial	serial	ADJ
fsr-3845	129	22	correlation	correlation	NOUN
fsr-3845	129	23	coefficient	coefficient	NOUN
fsr-3845	129	24	from	from	ADP
fsr-3845	129	25	year	year	NOUN
fsr-3845	129	26	-	-	PUNCT
fsr-3845	129	27	by	by	ADP
fsr-3845	129	28	-	-	PUNCT
fsr-3845	129	29	year	year	NOUN
fsr-3845	129	30	regressions	regression	NOUN
fsr-3845	129	31	of	of	ADP
fsr-3845	129	32	unadjusted	unadjusted	ADJ
fsr-3845	129	33	fund	fund	NOUN
fsr-3845	129	34	returns	return	NOUN
fsr-3845	129	35	in	in	ADP
fsr-3845	129	36	year	year	NOUN
fsr-3845	129	37	t	t	NOUN
fsr-3845	129	38	on	on	ADP
fsr-3845	129	39	year	year	NOUN
fsr-3845	129	40	t	t	PROPN
fsr-3845	129	41	1	1	NUM
fsr-3845	129	42	returns	return	NOUN
fsr-3845	129	43	is	be	AUX
fsr-3845	129	44	0.12	0.12	NUM
fsr-3845	129	45	.	.	PUNCT
fsr-3845	130	1	the	the	DET
fsr-3845	130	2	related	relate	VERB
fsr-3845	130	3	t	t	PROPN
fsr-3845	130	4	-	-	PUNCT
fsr-3845	130	5	statistic	statistic	NOUN
fsr-3845	130	6	is	be	AUX
fsr-3845	130	7	1.62	1.62	NUM
fsr-3845	130	8	,	,	PUNCT
fsr-3845	130	9	which	which	PRON
fsr-3845	130	10	is	be	AUX
fsr-3845	130	11	signif	signif	NOUN
fsr-3845	130	12	explaining	explain	VERB
fsr-3845	130	13	persistence	persistence	NOUN
fsr-3845	130	14	51	51	NUM
fsr-3845	130	15	table	table	NOUN
fsr-3845	130	16	2	2	NUM
fsr-3845	130	17	time	time	NOUN
fsr-3845	130	18	-	-	PUNCT
fsr-3845	130	19	series	series	NOUN
fsr-3845	130	20	means	mean	NOUN
fsr-3845	130	21	of	of	ADP
fsr-3845	130	22	cross	cross	ADJ
fsr-3845	130	23	-	-	ADJ
fsr-3845	130	24	sectional	sectional	ADJ
fsr-3845	130	25	regression	regression	NOUN
fsr-3845	130	26	standardized	standardize	VERB
fsr-3845	130	27	coefficients	coefficient	NOUN
fsr-3845	130	28	model	model	NOUN
fsr-3845	130	29	coefficient	coefficient	NOUN
fsr-3845	130	30	intercept	intercept	NOUN
fsr-3845	131	1	beta	beta	ADJ
fsr-3845	131	2	exp	exp	NOUN
fsr-3845	131	3	size	size	NOUN
fsr-3845	131	4	b	b	PROPN
fsr-3845	131	5	/	/	SYM
fsr-3845	131	6	m	m	PROPN
fsr-3845	131	7	e	e	NOUN
fsr-3845	131	8	l	l	NOUN
fsr-3845	131	9	m	m	VERB
fsr-3845	131	10	cf,/m	cf,/m	PROPN
fsr-3845	131	11	adj	adj	PROPN
fsr-3845	131	12	.	.	PUNCT
fsr-3845	132	1	r	r	NOUN
fsr-3845	132	2	2	2	NUM
fsr-3845	132	3	1	1	NUM
fsr-3845	132	4	m	m	NOUN
fsr-3845	132	5	e	e	NOUN
fsr-3845	132	6	a	a	PRON
fsr-3845	132	7	n	n	NUM
fsr-3845	132	8	7.77	7.77	NUM
fsr-3845	132	9	0	0	NUM
fsr-3845	132	10	.10	.10	NUM
fsr-3845	132	11	0.01	0.01	NUM
fsr-3845	132	12	)	)	PUNCT
fsr-3845	132	13	~2	~2	NOUN
fsr-3845	133	1	234.73	234.73	NUM
fsr-3845	133	2	*	*	PUNCT
fsr-3845	133	3	*	*	PUNCT
fsr-3845	134	1	235.02	235.02	NUM
fsr-3845	134	2	*	*	PUNCT
fsr-3845	134	3	*	*	X
fsr-3845	134	4	62.91	62.91	NUM
fsr-3845	134	5	"	"	PUNCT
fsr-3845	134	6	*	*	PUNCT
fsr-3845	134	7	t	t	NOUN
fsr-3845	134	8	-	-	PUNCT
fsr-3845	134	9	statistic	statistic	NOUN
fsr-3845	134	10	2.26	2.26	NUM
fsr-3845	134	11	*	*	SYM
fsr-3845	134	12	1.27	1.27	NUM
fsr-3845	134	13	0.24	0.24	NUM
fsr-3845	134	14	2	2	NUM
fsr-3845	134	15	m	m	NOUN
fsr-3845	134	16	e	e	NOUN
fsr-3845	134	17	a	a	PRON
fsr-3845	134	18	n	n	PRON
fsr-3845	134	19	22.21	22.21	NUM
fsr-3845	134	20	0	0	NUM
fsr-3845	134	21	.06	.06	NUM
fsr-3845	134	22	0	0	NUM
fsr-3845	134	23	.	.	PUNCT
fsr-3845	134	24	0	0	NUM
fsr-3845	134	25	5	5	NUM
fsr-3845	134	26	~2	~2	NOUN
fsr-3845	134	27	240.01	240.01	NUM
fsr-3845	134	28	"	"	PUNCT
fsr-3845	134	29	*	*	NUM
fsr-3845	134	30	179.58	179.58	NUM
fsr-3845	134	31	"	"	PUNCT
fsr-3845	134	32	*	*	PROPN
fsr-3845	134	33	31.69	31.69	NUM
fsr-3845	134	34	*	*	SYM
fsr-3845	134	35	t	t	NOUN
fsr-3845	134	36	-	-	PUNCT
fsr-3845	134	37	statistic	statistic	NOUN
fsr-3845	134	38	3.33	3.33	NUM
fsr-3845	134	39	*	*	NOUN
fsr-3845	134	40	*	*	PUNCT
fsr-3845	134	41	0.83	0.83	NUM
fsr-3845	134	42	1	1	NUM
fsr-3845	134	43	.	.	PUNCT
fsr-3845	135	1	4	4	NUM
fsr-3845	135	2	6	6	NUM
fsr-3845	135	3	3	3	NUM
fsr-3845	135	4	m	m	NOUN
fsr-3845	135	5	e	e	NOUN
fsr-3845	135	6	a	a	PRON
fsr-3845	135	7	n	n	ADV
fsr-3845	135	8	16.72	16.72	NUM
fsr-3845	135	9	0.13	0.13	NUM
fsr-3845	135	10	0	0	NUM
fsr-3845	135	11	.	.	PUNCT
fsr-3845	135	12	0	0	NUM
fsr-3845	135	13	4	4	NUM
fsr-3845	135	14	~2	~2	NOUN
fsr-3845	135	15	175.80	175.80	NUM
fsr-3845	135	16	"	"	PUNCT
fsr-3845	135	17	*	*	NOUN
fsr-3845	135	18	94.04	94.04	NUM
fsr-3845	135	19	*	*	PUNCT
fsr-3845	135	20	*	*	SYM
fsr-3845	135	21	32.18	32.18	NUM
fsr-3845	135	22	"	"	PUNCT
fsr-3845	135	23	t	t	PROPN
fsr-3845	135	24	-	-	PUNCT
fsr-3845	135	25	statistic	statistic	NOUN
fsr-3845	135	26	2	2	NUM
fsr-3845	135	27	.12	.12	NUM
fsr-3845	135	28	"	"	PUNCT
fsr-3845	135	29	2.80	2.80	NUM
fsr-3845	135	30	*	*	PUNCT
fsr-3845	135	31	*	*	NOUN
fsr-3845	135	32	1	1	NUM
fsr-3845	135	33	.	.	SYM
fsr-3845	135	34	3	3	NUM
fsr-3845	135	35	2	2	NUM
fsr-3845	135	36	0	0	NUM
fsr-3845	135	37	.	.	PUNCT
fsr-3845	136	1	1	1	NUM
fsr-3845	136	2	4	4	NUM
fsr-3845	136	3	405.65	405.65	NUM
fsr-3845	136	4	*	*	PUNCT
fsr-3845	136	5	*	*	NOUN
fsr-3845	136	6	1	1	NUM
fsr-3845	136	7	.	.	SYM
fsr-3845	136	8	3	3	NUM
fsr-3845	136	9	4	4	NUM
fsr-3845	136	10	0	0	NUM
fsr-3845	136	11	.	.	PUNCT
fsr-3845	137	1	1	1	NUM
fsr-3845	137	2	1	1	NUM
fsr-3845	137	3	0.03	0.03	NUM
fsr-3845	137	4	0	0	NUM
fsr-3845	137	5	.10	.10	NUM
fsr-3845	137	6	-0	-0	SYM
fsr-3845	137	7	.01	.01	NUM
fsr-3845	137	8	305.04	305.04	NUM
fsr-3845	137	9	*	*	PUNCT
fsr-3845	137	10	*	*	PUNCT
fsr-3845	138	1	56.74	56.74	NUM
fsr-3845	138	2	*	*	PUNCT
fsr-3845	138	3	*	*	PUNCT
fsr-3845	138	4	67.48	67.48	NUM
fsr-3845	138	5	*	*	X
fsr-3845	138	6	*	*	PUNCT
fsr-3845	138	7	27.98	27.98	NUM
fsr-3845	138	8	1	1	NUM
fsr-3845	138	9	.	.	NOUN
fsr-3845	139	1	1	1	NUM
fsr-3845	139	2	8	8	NUM
fsr-3845	139	3	0.33	0.33	NUM
fsr-3845	139	4	1.13	1.13	NUM
fsr-3845	139	5	0	0	NUM
fsr-3845	139	6	.	.	PUNCT
fsr-3845	140	1	1	1	NUM
fsr-3845	140	2	4	4	NUM
fsr-3845	140	3	0.15	0.15	NUM
fsr-3845	140	4	0	0	NUM
fsr-3845	140	5	.30	.30	NUM
fsr-3845	140	6	0	0	NUM
fsr-3845	140	7	.42	.42	NUM
fsr-3845	140	8	notes	note	NOUN
fsr-3845	140	9	:	:	PUNCT
fsr-3845	140	10	this	this	DET
fsr-3845	140	11	table	table	NOUN
fsr-3845	140	12	reports	report	VERB
fsr-3845	140	13	results	result	VERB
fsr-3845	140	14	from	from	ADP
fsr-3845	140	15	the	the	DET
fsr-3845	140	16	regression	regression	NOUN
fsr-3845	140	17	models	model	NOUN
fsr-3845	140	18	shown	show	VERB
fsr-3845	140	19	in	in	ADP
fsr-3845	140	20	equations	equation	NOUN
fsr-3845	140	21	1	1	NUM
fsr-3845	140	22	,	,	PUNCT
fsr-3845	140	23	2	2	NUM
fsr-3845	140	24	and	and	CCONJ
fsr-3845	140	25	3	3	NUM
fsr-3845	140	26	,	,	PUNCT
fsr-3845	140	27	which	which	PRON
fsr-3845	140	28	model	model	VERB
fsr-3845	140	29	annual	annual	ADJ
fsr-3845	140	30	mutual	mutual	ADJ
fsr-3845	140	31	fund	fund	NOUN
fsr-3845	140	32	returns	return	NOUN
fsr-3845	140	33	as	as	ADP
fsr-3845	140	34	a	a	DET
fsr-3845	140	35	function	function	NOUN
fsr-3845	140	36	of	of	ADP
fsr-3845	140	37	the	the	DET
fsr-3845	140	38	characteristics	characteristic	NOUN
fsr-3845	140	39	of	of	ADP
fsr-3845	140	40	the	the	DET
fsr-3845	140	41	stocks	stock	NOUN
fsr-3845	140	42	held	hold	VERB
fsr-3845	140	43	by	by	ADP
fsr-3845	140	44	each	each	DET
fsr-3845	140	45	fund	fund	NOUN
fsr-3845	140	46	in	in	ADP
fsr-3845	140	47	a	a	DET
fsr-3845	140	48	given	give	VERB
fsr-3845	140	49	year	year	NOUN
fsr-3845	140	50	:	:	PUNCT
fsr-3845	140	51	rit	rit	PROPN
fsr-3845	140	52	=	=	SYM
fsr-3845	140	53	(	(	PUNCT
fsr-3845	140	54	~lt	~lt	X
fsr-3845	140	55	+	+	X
fsr-3845	140	56	o~2tbetai	o~2tbetai	ADJ
fsr-3845	140	57	,	,	PUNCT
fsr-3845	140	58	t	t	PROPN
fsr-3845	140	59	1	1	NUM
fsr-3845	140	60	+	+	CCONJ
fsr-3845	140	61	ct3texpi	ct3texpi	PROPN
fsr-3845	140	62	,	,	PUNCT
fsr-3845	140	63	t	t	PROPN
fsr-3845	140	64	1	1	NUM
fsr-3845	140	65	+	+	CCONJ
fsr-3845	140	66	r~/	r~/	X
fsr-3845	140	67	(	(	PUNCT
fsr-3845	140	68	1	1	NUM
fsr-3845	140	69	)	)	PUNCT
fsr-3845	140	70	rit	rit	NOUN
fsr-3845	140	71	=	=	PUNCT
fsr-3845	140	72	~	~	PUNCT
fsr-3845	140	73	l	l	NOUN
fsr-3845	140	74	t	t	NOUN
fsr-3845	140	75	+	+	X
fsr-3845	140	76	132tbetal	132tbetal	PROPN
fsr-3845	140	77	,	,	PUNCT
fsr-3845	140	78	t	t	X
fsr-3845	140	79	i	i	PROPN
fsr-3845	140	80	+	+	X
fsr-3845	141	1	[	[	X
fsr-3845	141	2	~3texpi	~3texpi	NUM
fsr-3845	141	3	.	.	PUNCT
fsr-3845	142	1	t	t	NOUN
fsr-3845	143	1	i	i	PRON
fsr-3845	143	2	+	+	CCONJ
fsr-3845	144	1	[	[	X
fsr-3845	144	2	~'lt	~'lt	NUM
fsr-3845	144	3	size	size	NOUN
fsr-3845	144	4	+	+	X
fsr-3845	144	5	~t	~t	SYM
fsr-3845	144	6	(	(	PUNCT
fsr-3845	144	7	2	2	X
fsr-3845	144	8	)	)	PUNCT
fsr-3845	144	9	rit	rit	NOUN
fsr-3845	144	10	=	=	SYM
fsr-3845	144	11	~)lt+~2tbetai	~)lt+~2tbetai	ADJ
fsr-3845	144	12	,	,	PUNCT
fsr-3845	144	13	t	t	NOUN
fsr-3845	144	14	_	_	PUNCT
fsr-3845	144	15	l	l	PUNCT
fsr-3845	145	1	+	+	PUNCT
fsr-3845	145	2	~)3texpi	~)3texpi	PROPN
fsr-3845	145	3	,	,	PUNCT
fsr-3845	145	4	t	t	PROPN
fsr-3845	145	5	l	l	PROPN
fsr-3845	145	6	+	+	X
fsr-3845	145	7	~)4tsizei	~)4tsizei	NUM
fsr-3845	145	8	,	,	PUNCT
fsr-3845	145	9	t	t	X
fsr-3845	145	10	_	_	PUNCT
fsr-3845	146	1	l	l	PUNCT
fsr-3845	147	1	+	+	PUNCT
fsr-3845	147	2	~)i	~)i	NUM
fsr-3845	147	3	,	,	PUNCT
fsr-3845	147	4	t_l	t_l	PUNCT
fsr-3845	148	1	+	+	ADJ
fsr-3845	148	2	~5tb	~5tb	X
fsr-3845	148	3	/	/	SYM
fsr-3845	148	4	mi	mi	PROPN
fsr-3845	148	5	,	,	PUNCT
fsr-3845	148	6	t	t	NOUN
fsr-3845	148	7	_	_	PUNCT
fsr-3845	149	1	l	l	PUNCT
fsr-3845	149	2	+66te	+66te	NOUN
fsr-3845	149	3	/	/	SYM
fsr-3845	149	4	mi	mi	PROPN
fsr-3845	149	5	,	,	PUNCT
fsr-3845	149	6	t	t	NOUN
fsr-3845	149	7	_	_	PUNCT
fsr-3845	150	1	l	l	NOUN
fsr-3845	150	2	(	(	PUNCT
fsr-3845	150	3	3	3	NUM
fsr-3845	150	4	)	)	PUNCT
fsr-3845	150	5	+	+	CCONJ
fsr-3845	150	6	~7tcf	~7tcf	VERB
fsr-3845	150	7	/	/	SYM
fsr-3845	150	8	mi	mi	NOUN
fsr-3845	150	9	,	,	PUNCT
fsr-3845	150	10	t	t	PROPN
fsr-3845	151	1	i	i	PRON
fsr-3845	151	2	+	+	CCONJ
fsr-3845	151	3	rit	rit	PROPN
fsr-3845	151	4	twenty	twenty	NUM
fsr-3845	151	5	-	-	PUNCT
fsr-3845	151	6	one	one	NUM
fsr-3845	151	7	cross	cross	ADJ
fsr-3845	151	8	-	-	ADJ
fsr-3845	151	9	sectional	sectional	ADJ
fsr-3845	151	10	regressions	regression	NOUN
fsr-3845	151	11	are	be	AUX
fsr-3845	151	12	estimated	estimate	VERB
fsr-3845	151	13	(	(	PUNCT
fsr-3845	151	14	one	one	NUM
fsr-3845	151	15	for	for	ADP
fsr-3845	151	16	each	each	DET
fsr-3845	151	17	year	year	NOUN
fsr-3845	151	18	1975	1975	NUM
fsr-3845	151	19	-	-	SYM
fsr-3845	151	20	1995	1995	NUM
fsr-3845	151	21	)	)	PUNCT
fsr-3845	151	22	.	.	PUNCT
fsr-3845	152	1	the	the	DET
fsr-3845	152	2	regression	regression	NOUN
fsr-3845	152	3	coefficients	coefficient	NOUN
fsr-3845	152	4	reported	report	VERB
fsr-3845	152	5	are	be	AUX
fsr-3845	152	6	calculated	calculate	VERB
fsr-3845	152	7	as	as	ADP
fsr-3845	152	8	the	the	DET
fsr-3845	152	9	time	time	NOUN
fsr-3845	152	10	-	-	PUNCT
fsr-3845	152	11	series	series	NOUN
fsr-3845	152	12	means	mean	NOUN
fsr-3845	152	13	of	of	ADP
fsr-3845	152	14	the	the	DET
fsr-3845	152	15	cross	cross	ADJ
fsr-3845	152	16	-	-	ADJ
fsr-3845	152	17	sectional	sectional	ADJ
fsr-3845	152	18	regression	regression	NOUN
fsr-3845	152	19	standardized	standardize	VERB
fsr-3845	152	20	coefficients	coefficient	NOUN
fsr-3845	152	21	.	.	PUNCT
fsr-3845	153	1	(	(	PUNCT
fsr-3845	153	2	the	the	DET
fsr-3845	153	3	regres	regre	NOUN
fsr-3845	153	4	sion	sion	NOUN
fsr-3845	153	5	intercepts	intercept	NOUN
fsr-3845	153	6	do	do	AUX
fsr-3845	153	7	not	not	PART
fsr-3845	153	8	have	have	VERB
fsr-3845	153	9	standardized	standardized	ADJ
fsr-3845	153	10	coefficients	coefficient	NOUN
fsr-3845	153	11	,	,	PUNCT
fsr-3845	153	12	and	and	CCONJ
fsr-3845	153	13	are	be	AUX
fsr-3845	153	14	therefore	therefore	ADV
fsr-3845	153	15	reported	report	VERB
fsr-3845	153	16	in	in	ADP
fsr-3845	153	17	unstandardized	unstandardized	ADJ
fsr-3845	153	18	form	form	NOUN
fsr-3845	153	19	.	.	PUNCT
fsr-3845	153	20	)	)	PUNCT
fsr-3845	154	1	t	t	PROPN
fsr-3845	154	2	h	h	NOUN
fsr-3845	154	3	e	e	NOUN
fsr-3845	154	4	)	)	PUNCT
fsr-3845	154	5	~2	~2	NOUN
fsr-3845	154	6	statistics	statistic	NOUN
fsr-3845	154	7	are	be	AUX
fsr-3845	154	8	obtained	obtain	VERB
fsr-3845	154	9	by	by	ADP
fsr-3845	154	10	summing	sum	VERB
fsr-3845	154	11	the	the	DET
fsr-3845	154	12	squares	square	NOUN
fsr-3845	154	13	of	of	ADP
fsr-3845	154	14	the	the	DET
fsr-3845	154	15	regression	regression	NOUN
fsr-3845	154	16	coefficient	coefficient	NOUN
fsr-3845	154	17	t	t	PROPN
fsr-3845	154	18	-	-	PUNCT
fsr-3845	154	19	statistics	statistic	NOUN
fsr-3845	154	20	.	.	PUNCT
fsr-3845	155	1	a	a	DET
fsr-3845	155	2	significant	significant	ADJ
fsr-3845	155	3	)	)	PUNCT
fsr-3845	155	4	~2	~2	NOUN
fsr-3845	155	5	value	value	NOUN
fsr-3845	155	6	indicates	indicate	VERB
fsr-3845	155	7	that	that	SCONJ
fsr-3845	155	8	the	the	DET
fsr-3845	155	9	variable	variable	NOUN
fsr-3845	155	10	is	be	AUX
fsr-3845	155	11	significant	significant	ADJ
fsr-3845	155	12	in	in	ADP
fsr-3845	155	13	explaining	explain	VERB
fsr-3845	155	14	mutual	mutual	ADJ
fsr-3845	155	15	fund	fund	NOUN
fsr-3845	155	16	returns	return	NOUN
fsr-3845	155	17	.	.	PUNCT
fsr-3845	156	1	the	the	DET
fsr-3845	156	2	res	re	NOUN
fsr-3845	156	3	are	be	AUX
fsr-3845	156	4	calculated	calculate	VERB
fsr-3845	156	5	as	as	ADP
fsr-3845	156	6	the	the	DET
fsr-3845	156	7	time	time	NOUN
fsr-3845	156	8	-	-	PUNCT
fsr-3845	156	9	series	series	NOUN
fsr-3845	156	10	mean	mean	PROPN
fsr-3845	156	11	adjusled	adjusle	VERB
fsr-3845	156	12	-	-	PUNCT
fsr-3845	156	13	r2s	r2s	NOUN
fsr-3845	156	14	from	from	ADP
fsr-3845	156	15	all	all	DET
fsr-3845	156	16	cross	cross	ADJ
fsr-3845	156	17	-	-	ADJ
fsr-3845	156	18	sectional	sectional	ADJ
fsr-3845	156	19	regressions	regression	NOUN
fsr-3845	156	20	.	.	PUNCT
fsr-3845	157	1	the	the	DET
fsr-3845	157	2	t	t	PROPN
fsr-3845	157	3	-	-	PUNCT
fsr-3845	157	4	statistics	statistic	NOUN
fsr-3845	157	5	are	be	AUX
fsr-3845	157	6	calculated	calculate	VERB
fsr-3845	157	7	as	as	ADP
fsr-3845	157	8	the	the	DET
fsr-3845	157	9	slope	slope	NOUN
fsr-3845	157	10	coefficient	coefficient	ADJ
fsr-3845	157	11	time	time	NOUN
fsr-3845	157	12	-	-	PUNCT
fsr-3845	157	13	series	series	NOUN
fsr-3845	157	14	means	mean	VERB
fsr-3845	157	15	divided	divide	VERB
fsr-3845	157	16	by	by	ADP
fsr-3845	157	17	the	the	DET
fsr-3845	157	18	time	time	NOUN
fsr-3845	157	19	-	-	PUNCT
fsr-3845	157	20	series	series	NOUN
fsr-3845	157	21	standard	standard	ADJ
fsr-3845	157	22	errors	error	NOUN
fsr-3845	157	23	.	.	PUNCT
fsr-3845	158	1	*	*	PUNCT
fsr-3845	158	2	*	*	PUNCT
fsr-3845	158	3	,	,	PUNCT
fsr-3845	158	4	*	*	PUNCT
fsr-3845	158	5	significant	significant	ADJ
fsr-3845	158	6	at	at	ADP
fsr-3845	158	7	the	the	DET
fsr-3845	158	8	one	one	NUM
fsr-3845	158	9	and	and	CCONJ
fsr-3845	158	10	five	five	NUM
fsr-3845	158	11	percent	percent	NOUN
fsr-3845	158	12	levels	level	NOUN
fsr-3845	158	13	,	,	PUNCT
fsr-3845	158	14	respectively	respectively	ADV
fsr-3845	158	15	.	.	PUNCT
fsr-3845	159	1	definition	definition	NOUN
fsr-3845	159	2	of	of	ADP
fsr-3845	159	3	variables	variable	NOUN
fsr-3845	159	4	:	:	PUNCT
fsr-3845	159	5	rit	rit	NOUN
fsr-3845	159	6	=	=	PUNCT
fsr-3845	159	7	total	total	ADJ
fsr-3845	159	8	return	return	NOUN
fsr-3845	159	9	of	of	ADP
fsr-3845	159	10	mutual	mutual	ADJ
fsr-3845	159	11	fund	fund	NOUN
fsr-3845	160	1	i	i	PRON
fsr-3845	160	2	in	in	ADP
fsr-3845	160	3	year	year	NOUN
fsr-3845	160	4	t	t	PROPN
fsr-3845	160	5	;	;	PUNCT
fsr-3845	160	6	beta/	beta/	NUM
fsr-3845	160	7	,	,	PUNCT
fsr-3845	160	8	t	t	PROPN
fsr-3845	160	9	1	1	NUM
fsr-3845	160	10	=	=	SYM
fsr-3845	160	11	expi	expi	PROPN
fsr-3845	160	12	,	,	PUNCT
fsr-3845	160	13	t	t	PROPN
fsr-3845	160	14	1	1	NUM
fsr-3845	160	15	=	=	SYM
fsr-3845	160	16	size/	size/	NUM
fsr-3845	160	17	,	,	PUNCT
fsr-3845	160	18	t	t	NOUN
fsr-3845	160	19	1	1	NUM
fsr-3845	160	20	=	=	SYM
fsr-3845	160	21	b	b	PROPN
fsr-3845	160	22	,	,	PUNCT
fsr-3845	160	23	qvli	qvli	PROPN
fsr-3845	160	24	.	.	PUNCT
fsr-3845	161	1	t	t	PROPN
fsr-3845	161	2	_	_	NOUN
fsr-3845	162	1	1	1	NUM
fsr-3845	162	2	=	=	SYM
fsr-3845	162	3	~	~	PUNCT
fsr-3845	162	4	i	i	PRON
fsr-3845	162	5	,	,	PUNCT
fsr-3845	162	6	t	t	PROPN
fsr-3845	163	1	i	i	NOUN
fsr-3845	163	2	=	=	PUNCT
fsr-3845	163	3	cf	cf	PROPN
fsr-3845	163	4	/	/	SYM
fsr-3845	163	5	mi	mi	PROPN
fsr-3845	163	6	,	,	PUNCT
fsr-3845	163	7	t	t	PROPN
fsr-3845	163	8	1	1	NUM
fsr-3845	163	9	=	=	NOUN
fsr-3845	163	10	market	market	NOUN
fsr-3845	163	11	risk	risk	NOUN
fsr-3845	163	12	of	of	ADP
fsr-3845	163	13	fund	fund	NOUN
fsr-3845	163	14	i	i	PRON
fsr-3845	163	15	in	in	ADP
fsr-3845	163	16	year	year	NOUN
fsr-3845	163	17	t	t	PROPN
fsr-3845	163	18	1	1	NUM
fsr-3845	163	19	;	;	PUNCT
fsr-3845	163	20	expense	expense	NOUN
fsr-3845	163	21	ratio	ratio	NOUN
fsr-3845	163	22	of	of	ADP
fsr-3845	163	23	fund	fund	NOUN
fsr-3845	164	1	i	i	PRON
fsr-3845	164	2	in	in	ADP
fsr-3845	164	3	year	year	NOUN
fsr-3845	164	4	t	t	PROPN
fsr-3845	164	5	1	1	NUM
fsr-3845	164	6	;	;	PUNCT
fsr-3845	164	7	natural	natural	ADJ
fsr-3845	164	8	logarithm	logarithm	NOUN
fsr-3845	164	9	of	of	ADP
fsr-3845	164	10	the	the	DET
fsr-3845	164	11	median	median	ADJ
fsr-3845	164	12	market	market	NOUN
fsr-3845	164	13	capitalization	capitalization	NOUN
fsr-3845	164	14	of	of	ADP
fsr-3845	164	15	the	the	DET
fsr-3845	164	16	common	common	ADJ
fsr-3845	164	17	stocks	stock	NOUN
fsr-3845	164	18	held	hold	VERB
fsr-3845	164	19	by	by	ADP
fsr-3845	164	20	mutual	mutual	ADJ
fsr-3845	164	21	fund	fund	NOUN
fsr-3845	164	22	i	i	PRON
fsr-3845	164	23	at	at	ADP
fsr-3845	164	24	the	the	DET
fsr-3845	164	25	end	end	NOUN
fsr-3845	164	26	of	of	ADP
fsr-3845	164	27	year	year	NOUN
fsr-3845	164	28	t	t	PROPN
fsr-3845	164	29	1	1	NUM
fsr-3845	164	30	;	;	PUNCT
fsr-3845	164	31	median	median	ADJ
fsr-3845	164	32	ratio	ratio	NOUN
fsr-3845	164	33	of	of	ADP
fsr-3845	164	34	book	book	NOUN
fsr-3845	164	35	-	-	PUNCT
fsr-3845	164	36	to	to	ADP
fsr-3845	164	37	-	-	PUNCT
fsr-3845	164	38	market	market	NOUN
fsr-3845	164	39	equity	equity	NOUN
fsr-3845	164	40	of	of	ADP
fsr-3845	164	41	the	the	DET
fsr-3845	164	42	common	common	ADJ
fsr-3845	164	43	stocks	stock	NOUN
fsr-3845	164	44	held	hold	VERB
fsr-3845	164	45	by	by	ADP
fsr-3845	164	46	mutual	mutual	ADJ
fsr-3845	164	47	fund	fund	NOUN
fsr-3845	164	48	i	i	PRON
fsr-3845	164	49	at	at	ADP
fsr-3845	164	50	the	the	DET
fsr-3845	164	51	end	end	NOUN
fsr-3845	164	52	of	of	ADP
fsr-3845	164	53	year	year	NOUN
fsr-3845	164	54	t	t	PROPN
fsr-3845	164	55	1	1	NUM
fsr-3845	164	56	;	;	PUNCT
fsr-3845	164	57	median	median	ADJ
fsr-3845	164	58	earnings	earning	NOUN
fsr-3845	164	59	yield	yield	NOUN
fsr-3845	164	60	of	of	ADP
fsr-3845	164	61	the	the	DET
fsr-3845	164	62	common	common	ADJ
fsr-3845	164	63	stocks	stock	NOUN
fsr-3845	164	64	held	hold	VERB
fsr-3845	164	65	by	by	ADP
fsr-3845	164	66	mutual	mutual	ADJ
fsr-3845	164	67	fund	fund	NOUN
fsr-3845	164	68	i	i	PRON
fsr-3845	164	69	at	at	ADP
fsr-3845	164	70	the	the	DET
fsr-3845	164	71	end	end	NOUN
fsr-3845	164	72	of	of	ADP
fsr-3845	164	73	year	year	NOUN
fsr-3845	164	74	t	t	PROPN
fsr-3845	164	75	1	1	NUM
fsr-3845	164	76	;	;	PUNCT
fsr-3845	164	77	calculated	calculate	VERB
fsr-3845	164	78	as	as	ADP
fsr-3845	164	79	income	income	NOUN
fsr-3845	164	80	before	before	ADP
fsr-3845	164	81	extraordinary	extraordinary	ADJ
fsr-3845	164	82	items	item	NOUN
fsr-3845	164	83	less	less	ADV
fsr-3845	164	84	preferred	preferred	ADJ
fsr-3845	164	85	dividends	dividend	NOUN
fsr-3845	164	86	divided	divide	VERB
fsr-3845	164	87	by	by	ADP
fsr-3845	164	88	the	the	DET
fsr-3845	164	89	market	market	NOUN
fsr-3845	164	90	value	value	NOUN
fsr-3845	164	91	of	of	ADP
fsr-3845	164	92	common	common	ADJ
fsr-3845	164	93	stock	stock	NOUN
fsr-3845	164	94	;	;	PUNCT
fsr-3845	164	95	median	median	ADJ
fsr-3845	164	96	cash	cash	NOUN
fsr-3845	164	97	flow	flow	NOUN
fsr-3845	164	98	yield	yield	NOUN
fsr-3845	164	99	of	of	ADP
fsr-3845	164	100	the	the	DET
fsr-3845	164	101	common	common	ADJ
fsr-3845	164	102	stocks	stock	NOUN
fsr-3845	164	103	held	hold	VERB
fsr-3845	164	104	by	by	ADP
fsr-3845	164	105	mutual	mutual	ADJ
fsr-3845	164	106	fund	fund	NOUN
fsr-3845	164	107	i	i	PRON
fsr-3845	164	108	at	at	ADP
fsr-3845	164	109	the	the	DET
fsr-3845	164	110	end	end	NOUN
fsr-3845	164	111	of	of	ADP
fsr-3845	164	112	year	year	NOUN
fsr-3845	164	113	t	t	PROPN
fsr-3845	164	114	1	1	NUM
fsr-3845	164	115	;	;	PUNCT
fsr-3845	164	116	calculated	calculate	VERB
fsr-3845	164	117	as	as	ADP
fsr-3845	164	118	the	the	DET
fsr-3845	164	119	cash	cash	NOUN
fsr-3845	164	120	flow	flow	NOUN
fsr-3845	164	121	available	available	ADJ
fsr-3845	164	122	to	to	ADP
fsr-3845	164	123	common	common	ADJ
fsr-3845	164	124	stock	stock	NOUN
fsr-3845	164	125	divided	divide	VERB
fsr-3845	164	126	by	by	ADP
fsr-3845	164	127	the	the	DET
fsr-3845	164	128	market	market	NOUN
fsr-3845	164	129	value	value	NOUN
fsr-3845	164	130	of	of	ADP
fsr-3845	164	131	common	common	ADJ
fsr-3845	164	132	stock	stock	NOUN
fsr-3845	164	133	.	.	PUNCT
fsr-3845	165	1	icant	icant	ADJ
fsr-3845	165	2	at	at	ADP
fsr-3845	165	3	the	the	DET
fsr-3845	165	4	ten	ten	NUM
fsr-3845	165	5	percent	percent	NOUN
fsr-3845	165	6	level	level	NOUN
fsr-3845	165	7	.	.	PUNCT
fsr-3845	166	1	mutual	mutual	ADJ
fsr-3845	166	2	fund	fund	NOUN
fsr-3845	166	3	returns	return	NOUN
fsr-3845	166	4	display	display	VERB
fsr-3845	166	5	only	only	ADV
fsr-3845	166	6	mild	mild	ADJ
fsr-3845	166	7	persistence	persistence	NOUN
fsr-3845	166	8	over	over	ADP
fsr-3845	166	9	the	the	DET
fsr-3845	166	10	entire	entire	ADJ
fsr-3845	166	11	period	period	NOUN
fsr-3845	166	12	1976	1976	NUM
fsr-3845	166	13	-	-	PUNCT
fsr-3845	166	14	-1995	-1995	NOUN
fsr-3845	166	15	.	.	PUNCT
fsr-3845	167	1	the	the	DET
fsr-3845	167	2	persistence	persistence	NOUN
fsr-3845	167	3	in	in	ADP
fsr-3845	167	4	fund	fund	NOUN
fsr-3845	167	5	returns	return	NOUN
fsr-3845	167	6	that	that	PRON
fsr-3845	167	7	have	have	AUX
fsr-3845	167	8	been	be	AUX
fsr-3845	167	9	adjusted	adjust	VERB
fsr-3845	167	10	for	for	ADP
fsr-3845	167	11	market	market	NOUN
fsr-3845	167	12	risk	risk	NOUN
fsr-3845	167	13	and	and	CCONJ
fsr-3845	167	14	expense	expense	NOUN
fsr-3845	167	15	ratios	ratio	NOUN
fsr-3845	167	16	(	(	PUNCT
fsr-3845	167	17	r	r	NOUN
fsr-3845	167	18	~	~	SYM
fsr-3845	167	19	t	t	NOUN
fsr-3845	167	20	)	)	PUNCT
fsr-3845	167	21	are	be	AUX
fsr-3845	167	22	examined	examine	VERB
fsr-3845	167	23	next	next	ADV
fsr-3845	167	24	.	.	PUNCT
fsr-3845	168	1	the	the	DET
fsr-3845	168	2	average	average	ADJ
fsr-3845	168	3	first	first	ADJ
fsr-3845	168	4	-	-	PUNCT
fsr-3845	168	5	order	order	NOUN
fsr-3845	168	6	serial	serial	ADJ
fsr-3845	168	7	correlation	correlation	NOUN
fsr-3845	168	8	coefficient	coefficient	NOUN
fsr-3845	168	9	for	for	ADP
fsr-3845	168	10	betaand	betaand	NOUN
fsr-3845	168	11	expense	expense	NOUN
fsr-3845	168	12	-	-	PUNCT
fsr-3845	168	13	adjusted	adjust	VERB
fsr-3845	168	14	returns	return	NOUN
fsr-3845	168	15	increases	increase	VERB
fsr-3845	168	16	slightly	slightly	ADV
fsr-3845	168	17	,	,	PUNCT
fsr-3845	168	18	from	from	ADP
fsr-3845	168	19	0.12	0.12	NUM
fsr-3845	168	20	to	to	ADP
fsr-3845	168	21	0.15	0.15	NUM
fsr-3845	168	22	.	.	PUNCT
fsr-3845	169	1	the	the	DET
fsr-3845	169	2	t	t	NOUN
fsr-3845	169	3	-	-	PUNCT
fsr-3845	169	4	statistic	statistic	NOUN
fsr-3845	169	5	on	on	ADP
fsr-3845	169	6	the	the	DET
fsr-3845	169	7	mean	mean	NOUN
fsr-3845	169	8	of	of	ADP
fsr-3845	169	9	the	the	DET
fsr-3845	169	10	pet	pet	NOUN
fsr-3845	169	11	-	-	PUNCT
fsr-3845	169	12	coefficients	coefficient	NOUN
fsr-3845	169	13	from	from	ADP
fsr-3845	169	14	equation	equation	NOUN
fsr-3845	169	15	4	4	NUM
fsr-3845	169	16	is	be	AUX
fsr-3845	169	17	2.63	2.63	NUM
fsr-3845	169	18	,	,	PUNCT
fsr-3845	169	19	indicating	indicate	VERB
fsr-3845	169	20	that	that	SCONJ
fsr-3845	169	21	these	these	DET
fsr-3845	169	22	correlations	correlation	NOUN
fsr-3845	169	23	are	be	AUX
fsr-3845	169	24	,	,	PUNCT
fsr-3845	169	25	on	on	ADP
fsr-3845	169	26	average	average	ADJ
fsr-3845	169	27	,	,	PUNCT
fsr-3845	169	28	significantly	significantly	ADV
fsr-3845	169	29	greater	great	ADJ
fsr-3845	169	30	than	than	ADP
fsr-3845	169	31	zero	zero	NUM
fsr-3845	169	32	.	.	PUNCT
fsr-3845	170	1	consistent	consistent	ADJ
fsr-3845	170	2	with	with	ADP
fsr-3845	170	3	the	the	DET
fsr-3845	170	4	findings	finding	NOUN
fsr-3845	170	5	reported	report	VERB
fsr-3845	170	6	by	by	ADP
fsr-3845	170	7	brown	brown	ADJ
fsr-3845	170	8	and	and	CCONJ
fsr-3845	170	9	goetzmann	goetzmann	PROPN
fsr-3845	170	10	(	(	PUNCT
fsr-3845	170	11	1995	1995	NUM
fsr-3845	170	12	,	,	PUNCT
fsr-3845	170	13	pp	pp	ADJ
fsr-3845	170	14	.	.	PUNCT
fsr-3845	171	1	691	691	NUM
fsr-3845	171	2	-	-	NUM
fsr-3845	171	3	693	693	NUM
fsr-3845	171	4	)	)	PUNCT
fsr-3845	171	5	,	,	PUNCT
fsr-3845	171	6	adjusting	adjust	VERB
fsr-3845	171	7	mutual	mutual	ADJ
fsr-3845	171	8	fund	fund	NOUN
fsr-3845	171	9	returns	return	NOUN
fsr-3845	171	10	for	for	ADP
fsr-3845	171	11	market	market	NOUN
fsr-3845	171	12	risk	risk	NOUN
fsr-3845	171	13	and	and	CCONJ
fsr-3845	171	14	expense	expense	NOUN
fsr-3845	171	15	ratios	ratio	NOUN
fsr-3845	171	16	does	do	AUX
fsr-3845	171	17	not	not	PART
fsr-3845	171	18	explain	explain	VERB
fsr-3845	171	19	the	the	DET
fsr-3845	171	20	persistence	persistence	NOUN
fsr-3845	171	21	in	in	ADP
fsr-3845	171	22	fund	fund	NOUN
fsr-3845	171	23	returns	return	NOUN
fsr-3845	171	24	.	.	PUNCT
fsr-3845	172	1	the	the	DET
fsr-3845	172	2	next	next	ADJ
fsr-3845	172	3	average	average	ADJ
fsr-3845	172	4	serial	serial	ADJ
fsr-3845	172	5	correlation	correlation	NOUN
fsr-3845	172	6	coefficient	coefficient	NOUN
fsr-3845	172	7	reported	report	VERB
fsr-3845	172	8	in	in	ADP
fsr-3845	172	9	table	table	NOUN
fsr-3845	172	10	3	3	NUM
fsr-3845	172	11	is	be	AUX
fsr-3845	172	12	from	from	ADP
fsr-3845	172	13	fund	fund	NOUN
fsr-3845	172	14	returns	return	NOUN
fsr-3845	172	15	that	that	PRON
fsr-3845	172	16	have	have	AUX
fsr-3845	172	17	been	be	AUX
fsr-3845	172	18	adjusted	adjust	VERB
fsr-3845	172	19	for	for	ADP
fsr-3845	172	20	beta	beta	NOUN
fsr-3845	172	21	,	,	PUNCT
fsr-3845	172	22	expenses	expense	NOUN
fsr-3845	172	23	,	,	PUNCT
fsr-3845	172	24	and	and	CCONJ
fsr-3845	172	25	the	the	DET
fsr-3845	172	26	median	median	ADJ
fsr-3845	172	27	size	size	NOUN
fsr-3845	172	28	of	of	ADP
fsr-3845	172	29	the	the	DET
fsr-3845	172	30	stocks	stock	NOUN
fsr-3845	172	31	held	hold	VERB
fsr-3845	172	32	by	by	ADP
fsr-3845	172	33	each	each	DET
fsr-3845	172	34	fund	fund	NOUN
fsr-3845	172	35	(	(	PUNCT
fsr-3845	172	36	r	r	NOUN
fsr-3845	172	37	~	~	NOUN
fsr-3845	172	38	t	t	NOUN
fsr-3845	172	39	)	)	PUNCT
fsr-3845	172	40	.	.	PUNCT
fsr-3845	173	1	the	the	DET
fsr-3845	173	2	year	year	NOUN
fsr-3845	173	3	-	-	PUNCT
fsr-3845	173	4	by	by	ADP
fsr-3845	173	5	-	-	PUNCT
fsr-3845	173	6	year	year	NOUN
fsr-3845	173	7	persistence	persistence	NOUN
fsr-3845	173	8	in	in	ADP
fsr-3845	173	9	mutual	mutual	ADJ
fsr-3845	173	10	fund	fund	NOUN
fsr-3845	173	11	returns	return	NOUN
fsr-3845	173	12	is	be	AUX
fsr-3845	173	13	reduced	reduce	VERB
fsr-3845	173	14	by	by	ADP
fsr-3845	173	15	inclusion	inclusion	NOUN
fsr-3845	173	16	of	of	ADP
fsr-3845	173	17	52	52	NUM
fsr-3845	173	18	f	f	NOUN
fsr-3845	174	1	i	i	PRON
fsr-3845	174	2	n	n	PROPN
fsr-3845	174	3	a	a	PRON
fsr-3845	174	4	n	n	NOUN
fsr-3845	174	5	c	c	NOUN
fsr-3845	174	6	i	i	PRON
fsr-3845	174	7	a	a	DET
fsr-3845	174	8	l	l	NOUN
fsr-3845	174	9	s	s	X
fsr-3845	174	10	e	e	NOUN
fsr-3845	174	11	r	r	NOUN
fsr-3845	174	12	v	v	NOUN
fsr-3845	175	1	i	i	PRON
fsr-3845	175	2	c	c	NOUN
fsr-3845	176	1	e	e	NOUN
fsr-3845	176	2	s	s	NOUN
fsr-3845	176	3	r	r	NOUN
fsr-3845	176	4	e	e	NOUN
fsr-3845	176	5	v	v	NOUN
fsr-3845	176	6	i	i	NOUN
fsr-3845	176	7	e	e	PROPN
fsr-3845	176	8	w	w	PROPN
fsr-3845	176	9	7(1	7(1	NUM
fsr-3845	176	10	)	)	PUNCT
fsr-3845	176	11	1998	1998	NUM
fsr-3845	176	12	table	table	NOUN
fsr-3845	176	13	3	3	NUM
fsr-3845	176	14	first	first	ADJ
fsr-3845	176	15	-	-	PUNCT
fsr-3845	176	16	order	order	NOUN
fsr-3845	176	17	serial	serial	ADJ
fsr-3845	176	18	correlation	correlation	NOUN
fsr-3845	176	19	coefficients	coefficient	NOUN
fsr-3845	176	20	of	of	ADP
fsr-3845	176	21	adjusted	adjusted	ADJ
fsr-3845	176	22	mutual	mutual	ADJ
fsr-3845	176	23	fund	fund	NOUN
fsr-3845	176	24	returns	return	NOUN
fsr-3845	176	25	variables	variable	NOUN
fsr-3845	176	26	in	in	ADP
fsr-3845	176	27	per	per	ADP
fsr-3845	176	28	formance	formance	NOUN
fsr-3845	176	29	-charac	-charac	NOUN
fsr-3845	176	30	te	te	ADP
fsr-3845	176	31	r	r	NOUN
fsr-3845	177	1	i	i	NOUN
fsr-3845	177	2	s	s	VERB
fsr-3845	177	3	t	t	NOUN
fsr-3845	178	1	i	i	PRON
fsr-3845	178	2	c	c	NOUN
fsr-3845	178	3	s	s	NOUN
fsr-3845	178	4	m	m	NOUN
fsr-3845	178	5	o	o	NOUN
fsr-3845	178	6	d	d	X
fsr-3845	178	7	e	e	X
fsr-3845	178	8	l	l	PROPN
fsr-3845	178	9	mode	mode	NOUN
fsr-3845	178	10	l	l	PROPN
fsr-3845	178	11	s	s	PART
fsr-3845	178	12	1	1	NUM
fsr-3845	178	13	,	,	PUNCT
fsr-3845	178	14	2	2	NUM
fsr-3845	178	15	,	,	PUNCT
fsr-3845	178	16	and	and	CCONJ
fsr-3845	178	17	3	3	NUM
fsr-3845	178	18	p	p	NOUN
fsr-3845	178	19	a	a	DET
fsr-3845	178	20	r	r	NOUN
fsr-3845	178	21	a	a	DET
fsr-3845	178	22	m	m	NOUN
fsr-3845	178	23	e	e	NOUN
fsr-3845	178	24	t	t	NOUN
fsr-3845	178	25	e	e	NOUN
fsr-3845	178	26	r	r	NOUN
fsr-3845	178	27	value	value	NOUN
fsr-3845	178	28	panel	panel	NOUN
fsr-3845	178	29	a	a	DET
fsr-3845	178	30	:	:	PUNCT
fsr-3845	178	31	1976	1976	NUM
fsr-3845	178	32	-	-	SYM
fsr-3845	178	33	1995	1995	NUM
fsr-3845	178	34	unadjusted	unadjusted	ADJ
fsr-3845	178	35	mutual	mutual	ADJ
fsr-3845	178	36	fund	fund	NOUN
fsr-3845	178	37	returns	return	NOUN
fsr-3845	178	38	p	p	PROPN
fsr-3845	178	39	0.12	0.12	NUM
fsr-3845	178	40	t	t	NOUN
fsr-3845	178	41	-	-	PUNCT
fsr-3845	178	42	statistic	statistic	NOUN
fsr-3845	178	43	1.62	1.62	NUM
fsr-3845	178	44	§	§	PROPN
fsr-3845	178	45	4	4	NUM
fsr-3845	178	46	beta	beta	NOUN
fsr-3845	178	47	,	,	PUNCT
fsr-3845	178	48	exp	exp	NOUN
fsr-3845	178	49	pet	pet	ADJ
fsr-3845	178	50	0.15	0.15	NUM
fsr-3845	178	51	t	t	NOUN
fsr-3845	178	52	-	-	PUNCT
fsr-3845	178	53	statistic	statistic	NOUN
fsr-3845	178	54	2.63	2.63	NUM
fsr-3845	178	55	*	*	NOUN
fsr-3845	178	56	*	*	SYM
fsr-3845	178	57	5	5	NUM
fsr-3845	178	58	beta	beta	NOUN
fsr-3845	178	59	,	,	PUNCT
fsr-3845	178	60	exp	exp	NOUN
fsr-3845	178	61	,	,	PUNCT
fsr-3845	178	62	size	size	NOUN
fsr-3845	178	63	p13	p13	VERB
fsr-3845	178	64	0.11	0.11	NUM
fsr-3845	178	65	t	t	PROPN
fsr-3845	178	66	-	-	PUNCT
fsr-3845	178	67	statistic	statistic	NOUN
fsr-3845	178	68	1.62	1.62	NUM
fsr-3845	178	69	§	§	PROPN
fsr-3845	178	70	6	6	NUM
fsr-3845	178	71	beta	beta	NOUN
fsr-3845	178	72	,	,	PUNCT
fsr-3845	178	73	exp	exp	NOUN
fsr-3845	178	74	,	,	PUNCT
fsr-3845	178	75	size	size	NOUN
fsr-3845	178	76	,	,	PUNCT
fsr-3845	178	77	b	b	X
fsr-3845	178	78	/	/	SYM
fsr-3845	178	79	m	m	PROPN
fsr-3845	178	80	,	,	PUNCT
fsr-3845	178	81	e	e	NOUN
fsr-3845	178	82	/	/	SYM
fsr-3845	178	83	m	m	PROPN
fsr-3845	178	84	,	,	PUNCT
fsr-3845	178	85	cf	cf	NOUN
fsr-3845	178	86	/	/	SYM
fsr-3845	178	87	m	m	NOUN
fsr-3845	178	88	p8	p8	ADJ
fsr-3845	178	89	0.06	0.06	NUM
fsr-3845	178	90	t	t	PROPN
fsr-3845	178	91	-	-	PUNCT
fsr-3845	178	92	statistic	statistic	NOUN
fsr-3845	178	93	1.25	1.25	NUM
fsr-3845	178	94	panel	panel	NOUN
fsr-3845	178	95	b	b	NOUN
fsr-3845	178	96	:	:	PUNCT
fsr-3845	178	97	1976	1976	NUM
fsr-3845	178	98	-	-	SYM
fsr-3845	178	99	1985	1985	NUM
fsr-3845	178	100	unadjusted	unadjuste	VERB
fsr-3845	178	101	mutual	mutual	ADJ
fsr-3845	178	102	fund	fund	NOUN
fsr-3845	178	103	returns	return	NOUN
fsr-3845	178	104	p	p	PROPN
fsr-3845	178	105	0.24	0.24	NUM
fsr-3845	178	106	t	t	NOUN
fsr-3845	178	107	-	-	PUNCT
fsr-3845	178	108	statistic	statistic	NOUN
fsr-3845	178	109	2.46	2.46	NUM
fsr-3845	178	110	*	*	NOUN
fsr-3845	178	111	*	*	PROPN
fsr-3845	178	112	4	4	NUM
fsr-3845	178	113	beta	beta	NOUN
fsr-3845	178	114	,	,	PUNCT
fsr-3845	178	115	exp	exp	NOUN
fsr-3845	178	116	pa	pa	PROPN
fsr-3845	178	117	0.19	0.19	NUM
fsr-3845	178	118	t	t	PROPN
fsr-3845	178	119	-	-	PUNCT
fsr-3845	178	120	statistic	statistic	NOUN
fsr-3845	178	121	2.89	2.89	NUM
fsr-3845	178	122	*	*	SYM
fsr-3845	178	123	*	*	SYM
fsr-3845	178	124	5	5	NUM
fsr-3845	178	125	beta	beta	NOUN
fsr-3845	178	126	,	,	PUNCT
fsr-3845	178	127	exp	exp	NOUN
fsr-3845	178	128	,	,	PUNCT
fsr-3845	178	129	size	size	NOUN
fsr-3845	178	130	pl~	pl~	PROPN
fsr-3845	178	131	0.10	0.10	NUM
fsr-3845	178	132	t	t	NOUN
fsr-3845	178	133	-	-	PUNCT
fsr-3845	178	134	statistic	statistic	NOUN
fsr-3845	178	135	1.51	1.51	NUM
fsr-3845	178	136	6	6	NUM
fsr-3845	178	137	beta	beta	NOUN
fsr-3845	178	138	,	,	PUNCT
fsr-3845	178	139	exp	exp	NOUN
fsr-3845	178	140	,	,	PUNCT
fsr-3845	178	141	size	size	NOUN
fsr-3845	178	142	,	,	PUNCT
fsr-3845	178	143	b	b	X
fsr-3845	178	144	/	/	SYM
fsr-3845	178	145	m	m	PROPN
fsr-3845	178	146	,	,	PUNCT
fsr-3845	178	147	e	e	NOUN
fsr-3845	178	148	/	/	SYM
fsr-3845	178	149	m	m	PROPN
fsr-3845	178	150	,	,	PUNCT
fsr-3845	178	151	cf	cf	NOUN
fsr-3845	178	152	/	/	SYM
fsr-3845	178	153	m	m	VERB
fsr-3845	178	154	p~	p~	PROPN
fsr-3845	178	155	0.03	0.03	NUM
fsr-3845	178	156	t	t	NOUN
fsr-3845	178	157	-	-	PUNCT
fsr-3845	178	158	statistic	statistic	NOUN
fsr-3845	178	159	1.02	1.02	NUM
fsr-3845	178	160	panel	panel	NOUN
fsr-3845	178	161	c	c	NOUN
fsr-3845	178	162	:	:	PUNCT
fsr-3845	178	163	1986	1986	NUM
fsr-3845	178	164	-	-	SYM
fsr-3845	178	165	1995	1995	NUM
fsr-3845	178	166	unadjusted	unadjusted	ADJ
fsr-3845	178	167	mutual	mutual	ADJ
fsr-3845	178	168	fund	fund	NOUN
fsr-3845	178	169	returns	return	NOUN
fsr-3845	178	170	p	p	PROPN
fsr-3845	178	171	-0.01	-0.01	NUM
fsr-3845	178	172	t	t	PROPN
fsr-3845	178	173	-	-	PUNCT
fsr-3845	178	174	statistic	statistic	NOUN
fsr-3845	178	175	-0.06	-0.06	NUM
fsr-3845	178	176	4	4	NUM
fsr-3845	178	177	beta	beta	NOUN
fsr-3845	178	178	,	,	PUNCT
fsr-3845	178	179	exp	exp	NOUN
fsr-3845	178	180	pa	pa	PROPN
fsr-3845	178	181	0.12	0.12	NUM
fsr-3845	178	182	t	t	PROPN
fsr-3845	178	183	-	-	PUNCT
fsr-3845	178	184	statistic	statistic	NOUN
fsr-3845	178	185	1.12	1.12	NUM
fsr-3845	178	186	5	5	NUM
fsr-3845	178	187	beta	beta	NOUN
fsr-3845	178	188	,	,	PUNCT
fsr-3845	178	189	exp	exp	NOUN
fsr-3845	178	190	,	,	PUNCT
fsr-3845	178	191	size	size	NOUN
fsr-3845	178	192	p13	p13	PROPN
fsr-3845	178	193	0.12	0.12	NUM
fsr-3845	178	194	t	t	PROPN
fsr-3845	178	195	-	-	PUNCT
fsr-3845	178	196	statistic	statistic	NOUN
fsr-3845	178	197	0.99	0.99	NUM
fsr-3845	178	198	6	6	NUM
fsr-3845	178	199	beta	beta	NOUN
fsr-3845	178	200	,	,	PUNCT
fsr-3845	178	201	exp	exp	NOUN
fsr-3845	178	202	,	,	PUNCT
fsr-3845	178	203	size	size	NOUN
fsr-3845	178	204	,	,	PUNCT
fsr-3845	178	205	b	b	X
fsr-3845	178	206	/	/	SYM
fsr-3845	178	207	m	m	PROPN
fsr-3845	178	208	,	,	PUNCT
fsr-3845	178	209	e	e	NOUN
fsr-3845	178	210	/	/	SYM
fsr-3845	178	211	m	m	PROPN
fsr-3845	178	212	,	,	PUNCT
fsr-3845	178	213	cf	cf	NOUN
fsr-3845	178	214	/	/	SYM
fsr-3845	178	215	m	m	VERB
fsr-3845	178	216	p~	p~	PROPN
fsr-3845	178	217	0.09	0.09	NUM
fsr-3845	178	218	t	t	PROPN
fsr-3845	178	219	-	-	PUNCT
fsr-3845	178	220	statistic	statistic	NOUN
fsr-3845	178	221	0.99	0.99	NUM
fsr-3845	178	222	notes	note	NOUN
fsr-3845	178	223	:	:	PUNCT
fsr-3845	178	224	this	this	DET
fsr-3845	178	225	table	table	NOUN
fsr-3845	178	226	reports	report	VERB
fsr-3845	178	227	results	result	VERB
fsr-3845	178	228	from	from	ADP
fsr-3845	178	229	the	the	DET
fsr-3845	178	230	regression	regression	NOUN
fsr-3845	178	231	models	model	NOUN
fsr-3845	178	232	shown	show	VERB
fsr-3845	178	233	in	in	ADP
fsr-3845	178	234	equations	equation	NOUN
fsr-3845	178	235	4	4	NUM
fsr-3845	178	236	,	,	PUNCT
fsr-3845	178	237	5	5	NUM
fsr-3845	178	238	,	,	PUNCT
fsr-3845	178	239	and	and	CCONJ
fsr-3845	178	240	6	6	NUM
fsr-3845	178	241	,	,	PUNCT
fsr-3845	178	242	which	which	PRON
fsr-3845	178	243	regress	regress	NOUN
fsr-3845	178	244	adjusted	adjust	VERB
fsr-3845	178	245	annual	annual	ADJ
fsr-3845	178	246	mutual	mutual	ADJ
fsr-3845	178	247	fund	fund	NOUN
fsr-3845	178	248	returns	return	NOUN
fsr-3845	178	249	on	on	ADP
fsr-3845	178	250	lagged	lag	VERB
fsr-3845	178	251	adjusted	adjust	VERB
fsr-3845	178	252	fund	fund	NOUN
fsr-3845	178	253	returns	return	NOUN
fsr-3845	178	254	(	(	PUNCT
fsr-3845	178	255	the	the	DET
fsr-3845	178	256	regression	regression	NOUN
fsr-3845	178	257	residuals	residual	NOUN
fsr-3845	178	258	obtained	obtain	VERB
fsr-3845	178	259	from	from	ADP
fsr-3845	178	260	estimating	estimate	VERB
fsr-3845	178	261	equations	equation	NOUN
fsr-3845	178	262	1	1	NUM
fsr-3845	178	263	,	,	PUNCT
fsr-3845	178	264	2	2	NUM
fsr-3845	178	265	.	.	PUNCT
fsr-3845	179	1	and	and	CCONJ
fsr-3845	179	2	3	3	NUM
fsr-3845	179	3	):	):	PUNCT
fsr-3845	179	4	ix	ix	PROPN
fsr-3845	179	5	(	(	PUNCT
fsr-3845	180	1	x	x	X
fsr-3845	180	2	~	~	PUNCT
fsr-3845	180	3	~t	~t	PUNCT
fsr-3845	180	4	ix	ix	X
fsr-3845	180	5	rit	rit	NOUN
fsr-3845	180	6	=	=	PUNCT
fsr-3845	180	7	c	c	PROPN
fsr-3845	180	8	+	+	CCONJ
fsr-3845	180	9	p	p	PROPN
fsr-3845	180	10	ri	ri	PROPN
fsr-3845	180	11	,	,	PUNCT
fsr-3845	180	12	t	t	NOUN
fsr-3845	180	13	1	1	NUM
fsr-3845	180	14	+	+	CCONJ
fsr-3845	181	1	£	£	SYM
fsr-3845	181	2	it	it	PRON
fsr-3845	181	3	(	(	PUNCT
fsr-3845	181	4	4	4	NUM
fsr-3845	181	5	)	)	PUNCT
fsr-3845	181	6	r~	r~	PROPN
fsr-3845	181	7	c~	c~	PROPN
fsr-3845	181	8	+	+	CCONJ
fsr-3845	181	9	pflr~	pflr~	VERB
fsr-3845	181	10	t	t	NOUN
fsr-3845	181	11	+	+	X
fsr-3845	181	12	~	~	PUNCT
fsr-3845	181	13	(	(	PUNCT
fsr-3845	181	14	5	5	NUM
fsr-3845	181	15	)	)	PUNCT
fsr-3845	181	16	•	•	NOUN
fsr-3845	181	17	=	=	PUNCT
fsr-3845	182	1	"	"	PUNCT
fsr-3845	182	2	,	,	PUNCT
fsr-3845	182	3	1	1	NUM
fsr-3845	182	4	6	6	NUM
fsr-3845	182	5	6	6	NUM
fsr-3845	182	6	5	5	NUM
fsr-3845	182	7	5	5	NUM
fsr-3845	182	8	6	6	NUM
fsr-3845	182	9	rit	rit	NOUN
fsr-3845	182	10	=	=	SYM
fsr-3845	182	11	c	c	PROPN
fsr-3845	182	12	+	+	CCONJ
fsr-3845	182	13	p	p	PROPN
fsr-3845	182	14	ri	ri	PROPN
fsr-3845	182	15	,	,	PUNCT
fsr-3845	182	16	t	t	PROPN
fsr-3845	183	1	i	i	PRON
fsr-3845	183	2	+	+	CCONJ
fsr-3845	183	3	~'it	~'it	NUM
fsr-3845	183	4	(	(	PUNCT
fsr-3845	183	5	6	6	NUM
fsr-3845	183	6	)	)	PUNCT
fsr-3845	183	7	the	the	DET
fsr-3845	183	8	average	average	ADJ
fsr-3845	183	9	first	first	ADJ
fsr-3845	183	10	-	-	PUNCT
fsr-3845	183	11	order	order	NOUN
fsr-3845	183	12	serial	serial	ADJ
fsr-3845	183	13	correlation	correlation	NOUN
fsr-3845	183	14	coefficients	coefficient	NOUN
fsr-3845	183	15	from	from	ADP
fsr-3845	183	16	adjusted	adjusted	ADJ
fsr-3845	183	17	mutual	mutual	ADJ
fsr-3845	183	18	fund	fund	NOUN
fsr-3845	183	19	returns	return	NOUN
fsr-3845	183	20	are	be	AUX
fsr-3845	183	21	compared	compare	VERB
fsr-3845	183	22	to	to	ADP
fsr-3845	183	23	the	the	DET
fsr-3845	183	24	average	average	ADJ
fsr-3845	183	25	serial	serial	ADJ
fsr-3845	183	26	correlation	correlation	NOUN
fsr-3845	183	27	coefficient	coefficient	NOUN
fsr-3845	183	28	from	from	ADP
fsr-3845	183	29	unadjusted	unadjusted	ADJ
fsr-3845	183	30	fund	fund	NOUN
fsr-3845	183	31	returns	return	NOUN
fsr-3845	183	32	.	.	PUNCT
fsr-3845	184	1	finding	find	VERB
fsr-3845	184	2	that	that	SCONJ
fsr-3845	184	3	the	the	DET
fsr-3845	184	4	adjustment	adjustment	NOUN
fsr-3845	184	5	regressions	regression	NOUN
fsr-3845	184	6	(	(	PUNCT
fsr-3845	184	7	equations	equation	NOUN
fsr-3845	184	8	1	1	NUM
fsr-3845	184	9	,	,	PUNCT
fsr-3845	184	10	2	2	NUM
fsr-3845	184	11	.	.	NOUN
fsr-3845	184	12	and	and	CCONJ
fsr-3845	184	13	3	3	X
fsr-3845	184	14	)	)	PUNCT
fsr-3845	184	15	decrease	decrease	VERB
fsr-3845	184	16	the	the	DET
fsr-3845	184	17	serial	serial	ADJ
fsr-3845	184	18	correlation	correlation	NOUN
fsr-3845	184	19	in	in	ADP
fsr-3845	184	20	fund	fund	NOUN
fsr-3845	184	21	returns	return	NOUN
fsr-3845	184	22	supports	support	VERB
fsr-3845	184	23	the	the	DET
fsr-3845	184	24	hypothesis	hypothesis	NOUN
fsr-3845	184	25	that	that	PRON
fsr-3845	184	26	the	the	DET
fsr-3845	184	27	characteristics	characteristic	NOUN
fsr-3845	184	28	of	of	ADP
fsr-3845	184	29	the	the	DET
fsr-3845	184	30	stocks	stock	NOUN
fsr-3845	184	31	held	hold	VERB
fsr-3845	184	32	by	by	ADP
fsr-3845	184	33	funds	fund	NOUN
fsr-3845	184	34	explains	explain	VERB
fsr-3845	184	35	the	the	DET
fsr-3845	184	36	persistence	persistence	NOUN
fsr-3845	184	37	in	in	ADP
fsr-3845	184	38	mutual	mutual	ADJ
fsr-3845	184	39	fund	fund	NOUN
fsr-3845	184	40	returns	return	NOUN
fsr-3845	184	41	.	.	PUNCT
fsr-3845	185	1	the	the	DET
fsr-3845	185	2	first	first	ADJ
fsr-3845	185	3	-	-	PUNCT
fsr-3845	185	4	order	order	NOUN
fsr-3845	185	5	serial	serial	ADJ
fsr-3845	185	6	correlation	correlation	NOUN
fsr-3845	185	7	coefficients	coefficient	NOUN
fsr-3845	185	8	reported	report	VERB
fsr-3845	185	9	are	be	AUX
fsr-3845	185	10	calcu	calcu	NOUN
fsr-3845	185	11	lated	late	VERB
fsr-3845	185	12	as	as	ADP
fsr-3845	185	13	the	the	DET
fsr-3845	185	14	time	time	NOUN
fsr-3845	185	15	-	-	PUNCT
fsr-3845	185	16	series	series	NOUN
fsr-3845	185	17	means	mean	VERB
fsr-3845	185	18	from	from	ADP
fsr-3845	185	19	all	all	DET
fsr-3845	185	20	cross	cross	ADJ
fsr-3845	185	21	-	-	ADJ
fsr-3845	185	22	sectional	sectional	ADJ
fsr-3845	185	23	regressions	regression	NOUN
fsr-3845	185	24	.	.	PUNCT
fsr-3845	186	1	the	the	DET
fsr-3845	186	2	t	t	PROPN
fsr-3845	186	3	-	-	PUNCT
fsr-3845	186	4	statistics	statistic	NOUN
fsr-3845	186	5	are	be	AUX
fsr-3845	186	6	calculated	calculate	VERB
fsr-3845	186	7	as	as	ADP
fsr-3845	186	8	the	the	DET
fsr-3845	186	9	slope	slope	NOUN
fsr-3845	186	10	coefficient	coefficient	ADJ
fsr-3845	186	11	time	time	NOUN
fsr-3845	186	12	-	-	PUNCT
fsr-3845	186	13	series	series	NOUN
fsr-3845	186	14	means	mean	VERB
fsr-3845	186	15	divided	divide	VERB
fsr-3845	186	16	by	by	ADP
fsr-3845	186	17	the	the	DET
fsr-3845	186	18	time	time	NOUN
fsr-3845	186	19	-	-	PUNCT
fsr-3845	186	20	series	series	NOUN
fsr-3845	186	21	standard	standard	ADJ
fsr-3845	186	22	errors	error	NOUN
fsr-3845	186	23	.	.	PUNCT
fsr-3845	187	1	*	*	PUNCT
fsr-3845	187	2	*	*	PUNCT
fsr-3845	187	3	,	,	PUNCT
fsr-3845	187	4	*	*	PUNCT
fsr-3845	187	5	significant	significant	ADJ
fsr-3845	187	6	at	at	ADP
fsr-3845	187	7	the	the	DET
fsr-3845	187	8	one	one	NUM
fsr-3845	187	9	and	and	CCONJ
fsr-3845	187	10	five	five	NUM
fsr-3845	187	11	percent	percent	NOUN
fsr-3845	187	12	levels	level	NOUN
fsr-3845	187	13	,	,	PUNCT
fsr-3845	187	14	respectively	respectively	ADV
fsr-3845	187	15	.	.	PUNCT
fsr-3845	188	1	§	§	PROPN
fsr-3845	188	2	significant	significant	ADJ
fsr-3845	188	3	at	at	ADP
fsr-3845	188	4	the	the	DET
fsr-3845	188	5	ten	ten	NUM
fsr-3845	188	6	percent	percent	NOUN
fsr-3845	188	7	level	level	NOUN
fsr-3845	188	8	.	.	PUNCT
fsr-3845	189	1	definition	definition	NOUN
fsr-3845	189	2	of	of	ADP
fsr-3845	189	3	variables	variable	NOUN
fsr-3845	189	4	:	:	PUNCT
fsr-3845	189	5	¢t	¢t	PROPN
fsr-3845	189	6	r[~	r[~	ADP
fsr-3845	189	7	6	6	NUM
fsr-3845	189	8	=	=	NOUN
fsr-3845	189	9	year	year	NOUN
fsr-3845	189	10	t	t	X
fsr-3845	189	11	characteristic	characteristic	ADV
fsr-3845	189	12	-	-	PUNCT
fsr-3845	189	13	adjusted	adjust	VERB
fsr-3845	189	14	returns	return	NOUN
fsr-3845	189	15	of	of	ADP
fsr-3845	189	16	fund	fund	NOUN
fsr-3845	189	17	i	i	PRON
fsr-3845	189	18	estimated	estimate	VERB
fsr-3845	189	19	from	from	ADP
fsr-3845	189	20	equations	equation	NOUN
fsr-3845	189	21	1	1	NUM
fsr-3845	189	22	,	,	PUNCT
fsr-3845	189	23	2	2	NUM
fsr-3845	189	24	and	and	CCONJ
fsr-3845	189	25	3	3	NUM
fsr-3845	189	26	above	above	ADV
fsr-3845	189	27	;	;	PUNCT
fsr-3845	189	28	rip	rip	VERB
fsr-3845	189	29	it	it	PRON
fsr-3845	189	30	'	'	PART
fsr-3845	189	31	rit	rit	PROPN
fsr-3845	189	32	pet	pet	NOUN
fsr-3845	189	33	,	,	PUNCT
fsr-3845	189	34	pl3	pl3	ADJ
fsr-3845	189	35	ps	ps	PROPN
fsr-3845	189	36	=	=	PUNCT
fsr-3845	189	37	first	first	ADJ
fsr-3845	189	38	-	-	PUNCT
fsr-3845	189	39	order	order	NOUN
fsr-3845	189	40	serial	serial	ADJ
fsr-3845	189	41	correlation	correlation	NOUN
fsr-3845	189	42	coefficients	coefficient	NOUN
fsr-3845	189	43	;	;	PUNCT
fsr-3845	189	44	a	a	DET
fsr-3845	189	45	13	13	NUM
fsr-3845	189	46	6	6	NUM
fsr-3845	189	47	=	=	NOUN
fsr-3845	189	48	year	year	NOUN
fsr-3845	189	49	t	t	NOUN
fsr-3845	189	50	regression	regression	NOUN
fsr-3845	189	51	residuals	residual	NOUN
fsr-3845	189	52	estimated	estimate	VERB
fsr-3845	189	53	from	from	ADP
fsr-3845	189	54	equations	equation	NOUN
fsr-3845	189	55	4	4	NUM
fsr-3845	189	56	,	,	PUNCT
fsr-3845	189	57	5	5	NUM
fsr-3845	189	58	,	,	PUNCT
fsr-3845	189	59	and	and	CCONJ
fsr-3845	190	1	6	6	NUM
fsr-3845	190	2	.	.	X
fsr-3845	190	3	eit	eit	PROPN
fsr-3845	190	4	'	'	PUNCT
fsr-3845	190	5	eit	eit	NOUN
fsr-3845	190	6	"	"	PUNCT
fsr-3845	190	7	£	£	NOUN
fsr-3845	190	8	it	it	PRON
fsr-3845	190	9	explaining	explain	VERB
fsr-3845	190	10	persistence	persistence	NOUN
fsr-3845	190	11	53	53	NUM
fsr-3845	190	12	the	the	DET
fsr-3845	190	13	size	size	NOUN
fsr-3845	190	14	variable	variable	NOUN
fsr-3845	190	15	.	.	PUNCT
fsr-3845	191	1	the	the	DET
fsr-3845	191	2	mean	mean	ADJ
fsr-3845	191	3	correlation	correlation	NOUN
fsr-3845	191	4	between	between	ADP
fsr-3845	191	5	annual	annual	ADJ
fsr-3845	191	6	fund	fund	NOUN
fsr-3845	191	7	returns	return	NOUN
fsr-3845	191	8	declines	decline	VERB
fsr-3845	191	9	from	from	ADP
fsr-3845	191	10	0.15	0.15	NUM
fsr-3845	191	11	in	in	ADP
fsr-3845	191	12	model	model	NOUN
fsr-3845	191	13	4	4	NUM
fsr-3845	191	14	to	to	PART
fsr-3845	191	15	0.11	0.11	NUM
fsr-3845	191	16	in	in	ADP
fsr-3845	191	17	model	model	NOUN
fsr-3845	191	18	5	5	NUM
fsr-3845	191	19	.	.	PUNCT
fsr-3845	192	1	the	the	DET
fsr-3845	192	2	related	relate	VERB
fsr-3845	192	3	t	t	PROPN
fsr-3845	192	4	-	-	PUNCT
fsr-3845	192	5	statistic	statistic	NOUN
fsr-3845	192	6	is	be	AUX
fsr-3845	192	7	1.62	1.62	NUM
fsr-3845	192	8	,	,	PUNCT
fsr-3845	192	9	which	which	PRON
fsr-3845	192	10	indicates	indicate	VERB
fsr-3845	192	11	that	that	SCONJ
fsr-3845	192	12	adjusting	adjust	VERB
fsr-3845	192	13	annual	annual	ADJ
fsr-3845	192	14	fund	fund	NOUN
fsr-3845	192	15	returns	return	NOUN
fsr-3845	192	16	in	in	ADP
fsr-3845	192	17	this	this	DET
fsr-3845	192	18	manner	manner	NOUN
fsr-3845	192	19	explains	explain	VERB
fsr-3845	192	20	only	only	ADV
fsr-3845	192	21	a	a	DET
fsr-3845	192	22	small	small	ADJ
fsr-3845	192	23	amount	amount	NOUN
fsr-3845	192	24	of	of	ADP
fsr-3845	192	25	the	the	DET
fsr-3845	192	26	persistence	persistence	NOUN
fsr-3845	192	27	in	in	ADP
fsr-3845	192	28	fund	fund	NOUN
fsr-3845	192	29	returns	return	NOUN
fsr-3845	192	30	.	.	PUNCT
fsr-3845	193	1	the	the	DET
fsr-3845	193	2	final	final	ADJ
fsr-3845	193	3	results	result	NOUN
fsr-3845	193	4	reported	report	VERB
fsr-3845	193	5	in	in	ADP
fsr-3845	193	6	panel	panel	NOUN
fsr-3845	193	7	a	a	PRON
fsr-3845	193	8	of	of	ADP
fsr-3845	193	9	table	table	NOUN
fsr-3845	193	10	3	3	NUM
fsr-3845	193	11	are	be	AUX
fsr-3845	193	12	from	from	ADP
fsr-3845	193	13	estimation	estimation	NOUN
fsr-3845	193	14	of	of	ADP
fsr-3845	193	15	equation	equation	NOUN
fsr-3845	193	16	6	6	NUM
fsr-3845	193	17	,	,	PUNCT
fsr-3845	193	18	which	which	PRON
fsr-3845	193	19	examines	examine	VERB
fsr-3845	193	20	the	the	DET
fsr-3845	193	21	correlations	correlation	NOUN
fsr-3845	193	22	between	between	ADP
fsr-3845	193	23	annual	annual	ADJ
fsr-3845	193	24	fund	fund	NOUN
fsr-3845	193	25	returns	return	NOUN
fsr-3845	193	26	adjusted	adjust	VERB
fsr-3845	193	27	for	for	ADP
fsr-3845	193	28	beta	beta	NOUN
fsr-3845	193	29	,	,	PUNCT
fsr-3845	193	30	expenses	expense	NOUN
fsr-3845	193	31	,	,	PUNCT
fsr-3845	193	32	firm	firm	ADJ
fsr-3845	193	33	size	size	NOUN
fsr-3845	193	34	,	,	PUNCT
fsr-3845	193	35	and	and	CCONJ
fsr-3845	193	36	the	the	DET
fsr-3845	193	37	three	three	NUM
fsr-3845	193	38	characteristic	characteristic	ADJ
fsr-3845	193	39	ratios	ratio	NOUN
fsr-3845	193	40	b	b	X
fsr-3845	193	41	/	/	SYM
fsr-3845	193	42	m	m	PROPN
fsr-3845	193	43	,	,	PUNCT
fsr-3845	193	44	e	e	NOUN
fsr-3845	193	45	/	/	SYM
fsr-3845	193	46	m	m	PROPN
fsr-3845	193	47	,	,	PUNCT
fsr-3845	193	48	and	and	CCONJ
fsr-3845	193	49	cf	cf	NOUN
fsr-3845	193	50	/	/	SYM
fsr-3845	193	51	m.	m.	NOUN
fsr-3845	193	52	the	the	DET
fsr-3845	193	53	average	average	NOUN
fsr-3845	193	54	of	of	ADP
fsr-3845	193	55	the	the	DET
fsr-3845	193	56	year	year	NOUN
fsr-3845	193	57	by	by	ADP
fsr-3845	193	58	-	-	PUNCT
fsr-3845	193	59	year	year	NOUN
fsr-3845	193	60	correlations	correlation	NOUN
fsr-3845	193	61	between	between	ADP
fsr-3845	193	62	fund	fund	NOUN
fsr-3845	193	63	returns	return	NOUN
fsr-3845	193	64	adjusted	adjust	VERB
fsr-3845	193	65	as	as	ADP
fsr-3845	193	66	such	such	ADJ
fsr-3845	193	67	is	be	AUX
fsr-3845	193	68	0.06	0.06	NUM
fsr-3845	193	69	.	.	PUNCT
fsr-3845	194	1	the	the	DET
fsr-3845	194	2	t	t	NOUN
fsr-3845	194	3	-	-	PUNCT
fsr-3845	194	4	statistic	statistic	NOUN
fsr-3845	194	5	on	on	ADP
fsr-3845	194	6	the	the	DET
fsr-3845	194	7	ps	ps	PROPN
fsr-3845	194	8	coefficients	coefficient	NOUN
fsr-3845	194	9	from	from	ADP
fsr-3845	194	10	equation	equation	NOUN
fsr-3845	194	11	6	6	NUM
fsr-3845	194	12	is	be	AUX
fsr-3845	194	13	1.25	1.25	NUM
fsr-3845	194	14	,	,	PUNCT
fsr-3845	194	15	indicating	indicate	VERB
fsr-3845	194	16	that	that	SCONJ
fsr-3845	194	17	on	on	ADP
fsr-3845	194	18	average	average	ADJ
fsr-3845	194	19	these	these	DET
fsr-3845	194	20	correlations	correlation	NOUN
fsr-3845	194	21	are	be	AUX
fsr-3845	194	22	insig	insig	PRON
fsr-3845	194	23	nificantly	nificantly	ADV
fsr-3845	194	24	different	different	ADJ
fsr-3845	194	25	from	from	ADP
fsr-3845	194	26	zero	zero	NUM
fsr-3845	194	27	.	.	PUNCT
fsr-3845	195	1	despite	despite	SCONJ
fsr-3845	195	2	the	the	DET
fsr-3845	195	3	mild	mild	ADJ
fsr-3845	195	4	persistence	persistence	NOUN
fsr-3845	195	5	in	in	ADP
fsr-3845	195	6	fund	fund	NOUN
fsr-3845	195	7	returns	return	NOUN
fsr-3845	195	8	over	over	ADP
fsr-3845	195	9	the	the	DET
fsr-3845	195	10	1976	1976	NUM
fsr-3845	195	11	1995	1995	NUM
fsr-3845	195	12	period	period	NOUN
fsr-3845	195	13	,	,	PUNCT
fsr-3845	195	14	there	there	PRON
fsr-3845	195	15	is	be	VERB
fsr-3845	195	16	a	a	DET
fsr-3845	195	17	significant	significant	ADJ
fsr-3845	195	18	reduction	reduction	NOUN
fsr-3845	195	19	in	in	ADP
fsr-3845	195	20	persistence	persistence	NOUN
fsr-3845	195	21	after	after	ADP
fsr-3845	195	22	adjusting	adjust	VERB
fsr-3845	195	23	for	for	ADP
fsr-3845	195	24	beta	beta	NOUN
fsr-3845	195	25	,	,	PUNCT
fsr-3845	195	26	expense	expense	NOUN
fsr-3845	195	27	ratios	ratio	NOUN
fsr-3845	195	28	,	,	PUNCT
fsr-3845	195	29	firm	firm	ADJ
fsr-3845	195	30	size	size	NOUN
fsr-3845	195	31	and	and	CCONJ
fsr-3845	195	32	investment	investment	NOUN
fsr-3845	195	33	style	style	NOUN
fsr-3845	195	34	.	.	PUNCT
fsr-3845	196	1	these	these	DET
fsr-3845	196	2	results	result	NOUN
fsr-3845	196	3	provide	provide	VERB
fsr-3845	196	4	support	support	NOUN
fsr-3845	196	5	for	for	ADP
fsr-3845	196	6	the	the	DET
fsr-3845	196	7	hypothesis	hypothesis	NOUN
fsr-3845	196	8	that	that	PRON
fsr-3845	196	9	accounting	account	VERB
fsr-3845	196	10	for	for	ADP
fsr-3845	196	11	the	the	DET
fsr-3845	196	12	size	size	NOUN
fsr-3845	196	13	and	and	CCONJ
fsr-3845	196	14	style	style	NOUN
fsr-3845	196	15	characteristics	characteristic	NOUN
fsr-3845	196	16	of	of	ADP
fsr-3845	196	17	the	the	DET
fsr-3845	196	18	stocks	stock	NOUN
fsr-3845	196	19	held	hold	VERB
fsr-3845	196	20	by	by	ADP
fsr-3845	196	21	funds	fund	NOUN
fsr-3845	196	22	using	use	VERB
fsr-3845	196	23	the	the	DET
fsr-3845	196	24	more	more	ADV
fsr-3845	196	25	parsimonious	parsimonious	ADJ
fsr-3845	196	26	and	and	CCONJ
fsr-3845	196	27	direct	direct	ADJ
fsr-3845	196	28	methods	method	NOUN
fsr-3845	196	29	suggested	suggest	VERB
fsr-3845	196	30	by	by	ADP
fsr-3845	196	31	daniel	daniel	PROPN
fsr-3845	196	32	and	and	CCONJ
fsr-3845	196	33	titman	titman	PROPN
fsr-3845	196	34	(	(	PUNCT
fsr-3845	196	35	1997	1997	NUM
fsr-3845	196	36	)	)	PUNCT
fsr-3845	196	37	can	can	AUX
fsr-3845	196	38	fully	fully	ADV
fsr-3845	196	39	explain	explain	VERB
fsr-3845	196	40	the	the	DET
fsr-3845	196	41	persistence	persistence	NOUN
fsr-3845	196	42	in	in	ADP
fsr-3845	196	43	mutual	mutual	ADJ
fsr-3845	196	44	fund	fund	NOUN
fsr-3845	196	45	returns	return	NOUN
fsr-3845	196	46	.	.	PUNCT
fsr-3845	197	1	previous	previous	ADJ
fsr-3845	197	2	research	research	NOUN
fsr-3845	197	3	into	into	ADP
fsr-3845	197	4	mutual	mutual	ADJ
fsr-3845	197	5	fund	fund	NOUN
fsr-3845	197	6	persistence	persistence	NOUN
fsr-3845	197	7	finds	find	VERB
fsr-3845	197	8	that	that	SCONJ
fsr-3845	197	9	"	"	PUNCT
fsr-3845	197	10	the	the	DET
fsr-3845	197	11	strongest	strong	ADJ
fsr-3845	197	12	evidence	evidence	NOUN
fsr-3845	197	13	for	for	ADP
fsr-3845	197	14	repeat	repeat	NOUN
fsr-3845	197	15	performance	performance	NOUN
fsr-3845	197	16	is	be	AUX
fsr-3845	197	17	over	over	ADP
fsr-3845	197	18	the	the	DET
fsr-3845	197	19	late	late	ADJ
fsr-3845	197	20	1970s	1970	NOUN
fsr-3845	197	21	and	and	CCONJ
fsr-3845	197	22	early	early	ADJ
fsr-3845	197	23	1980s	1980s	NUM
fsr-3845	197	24	"	"	PUNCT
fsr-3845	197	25	(	(	PUNCT
fsr-3845	197	26	brown	brown	PROPN
fsr-3845	197	27	&	&	CCONJ
fsr-3845	197	28	goetzmann	goetzmann	PROPN
fsr-3845	197	29	,	,	PUNCT
fsr-3845	197	30	1995	1995	NUM
fsr-3845	197	31	,	,	PUNCT
fsr-3845	197	32	p.	p.	NOUN
fsr-3845	197	33	689	689	NUM
fsr-3845	197	34	)	)	PUNCT
fsr-3845	197	35	.	.	PUNCT
fsr-3845	198	1	for	for	ADP
fsr-3845	198	2	this	this	DET
fsr-3845	198	3	reason	reason	NOUN
fsr-3845	198	4	persistence	persistence	NOUN
fsr-3845	198	5	coefficients	coefficient	NOUN
fsr-3845	198	6	are	be	AUX
fsr-3845	198	7	reported	report	VERB
fsr-3845	198	8	for	for	ADP
fsr-3845	198	9	the	the	DET
fsr-3845	198	10	1976	1976	NUM
fsr-3845	198	11	-	-	SYM
fsr-3845	198	12	1985	1985	NUM
fsr-3845	198	13	and	and	CCONJ
fsr-3845	198	14	1986	1986	NUM
fsr-3845	198	15	1995	1995	NUM
fsr-3845	198	16	subperiods	subperiod	NOUN
fsr-3845	198	17	in	in	ADP
fsr-3845	198	18	panels	panel	NOUN
fsr-3845	198	19	b	b	PROPN
fsr-3845	198	20	and	and	CCONJ
fsr-3845	198	21	c	c	PROPN
fsr-3845	198	22	of	of	ADP
fsr-3845	198	23	table	table	NOUN
fsr-3845	198	24	3	3	NUM
fsr-3845	198	25	.	.	PUNCT
fsr-3845	199	1	consistent	consistent	ADJ
fsr-3845	199	2	with	with	ADP
fsr-3845	199	3	the	the	DET
fsr-3845	199	4	findings	finding	NOUN
fsr-3845	199	5	of	of	ADP
fsr-3845	199	6	previous	previous	ADJ
fsr-3845	199	7	researchers	researcher	NOUN
fsr-3845	199	8	(	(	PUNCT
fsr-3845	199	9	brown	brown	PROPN
fsr-3845	199	10	&	&	CCONJ
fsr-3845	199	11	goetzmann	goetzmann	PROPN
fsr-3845	199	12	,	,	PUNCT
fsr-3845	199	13	1995	1995	NUM
fsr-3845	199	14	;	;	PUNCT
fsr-3845	199	15	hendricks	hendrick	NOUN
fsr-3845	199	16	et	et	PROPN
fsr-3845	199	17	al	al	PROPN
fsr-3845	199	18	.	.	PROPN
fsr-3845	199	19	,	,	PUNCT
fsr-3845	199	20	1993	1993	NUM
fsr-3845	199	21	;	;	PUNCT
fsr-3845	199	22	and	and	CCONJ
fsr-3845	199	23	malkiel	malkiel	ADJ
fsr-3845	199	24	,	,	PUNCT
fsr-3845	199	25	1995	1995	NUM
fsr-3845	199	26	)	)	PUNCT
fsr-3845	199	27	,	,	PUNCT
fsr-3845	199	28	unad	unad	PROPN
fsr-3845	199	29	justed	juste	VERB
fsr-3845	199	30	mutual	mutual	ADJ
fsr-3845	199	31	fund	fund	NOUN
fsr-3845	199	32	returns	return	NOUN
fsr-3845	199	33	display	display	VERB
fsr-3845	199	34	strong	strong	ADJ
fsr-3845	199	35	persistence	persistence	NOUN
fsr-3845	199	36	in	in	ADP
fsr-3845	199	37	the	the	DET
fsr-3845	199	38	1976	1976	NUM
fsr-3845	199	39	-	-	SYM
fsr-3845	199	40	1985	1985	NUM
fsr-3845	199	41	period	period	NOUN
fsr-3845	199	42	(	(	PUNCT
fsr-3845	199	43	p	p	NOUN
fsr-3845	199	44	=	=	NOUN
fsr-3845	199	45	0.238	0.238	NUM
fsr-3845	199	46	,	,	PUNCT
fsr-3845	199	47	t	t	NOUN
fsr-3845	199	48	=	=	SYM
fsr-3845	199	49	2.46	2.46	NUM
fsr-3845	199	50	)	)	PUNCT
fsr-3845	199	51	.	.	PUNCT
fsr-3845	200	1	the	the	DET
fsr-3845	200	2	average	average	ADJ
fsr-3845	200	3	first	first	ADJ
fsr-3845	200	4	-	-	PUNCT
fsr-3845	200	5	order	order	NOUN
fsr-3845	200	6	serial	serial	ADJ
fsr-3845	200	7	correlation	correlation	NOUN
fsr-3845	200	8	coefficient	coefficient	NOUN
fsr-3845	200	9	for	for	ADP
fsr-3845	200	10	betaand	betaand	ADJ
fsr-3845	200	11	expense	expense	NOUN
fsr-3845	200	12	adjusted	adjust	VERB
fsr-3845	200	13	returns	return	NOUN
fsr-3845	200	14	(	(	PUNCT
fsr-3845	200	15	model	model	NOUN
fsr-3845	200	16	4	4	NUM
fsr-3845	200	17	)	)	PUNCT
fsr-3845	200	18	decreases	decrease	VERB
fsr-3845	200	19	only	only	ADV
fsr-3845	200	20	slightly	slightly	ADV
fsr-3845	200	21	,	,	PUNCT
fsr-3845	200	22	from	from	ADP
fsr-3845	200	23	0.24	0.24	NUM
fsr-3845	200	24	to	to	ADP
fsr-3845	200	25	0.19	0.19	NUM
fsr-3845	200	26	.	.	PUNCT
fsr-3845	201	1	the	the	DET
fsr-3845	201	2	t	t	NOUN
fsr-3845	201	3	-	-	PUNCT
fsr-3845	201	4	statistic	statistic	NOUN
fsr-3845	201	5	on	on	ADP
fsr-3845	201	6	the	the	DET
fsr-3845	201	7	mean	mean	NOUN
fsr-3845	201	8	of	of	ADP
fsr-3845	201	9	the	the	DET
fsr-3845	201	10	pa	pa	PROPN
fsr-3845	201	11	-	-	PUNCT
fsr-3845	201	12	coefficients	coefficient	NOUN
fsr-3845	201	13	from	from	ADP
fsr-3845	201	14	model	model	NOUN
fsr-3845	201	15	4	4	NUM
fsr-3845	201	16	is	be	AUX
fsr-3845	201	17	2.89	2.89	NUM
fsr-3845	201	18	,	,	PUNCT
fsr-3845	201	19	indicating	indicate	VERB
fsr-3845	201	20	that	that	SCONJ
fsr-3845	201	21	these	these	DET
fsr-3845	201	22	correlations	correlation	NOUN
fsr-3845	201	23	remain	remain	VERB
fsr-3845	201	24	significantly	significantly	ADV
fsr-3845	201	25	greater	great	ADJ
fsr-3845	201	26	than	than	ADP
fsr-3845	201	27	zero	zero	NUM
fsr-3845	201	28	.	.	PUNCT
fsr-3845	202	1	as	as	SCONJ
fsr-3845	202	2	was	be	AUX
fsr-3845	202	3	the	the	DET
fsr-3845	202	4	case	case	NOUN
fsr-3845	202	5	in	in	ADP
fsr-3845	202	6	panel	panel	NOUN
fsr-3845	202	7	a	a	PRON
fsr-3845	202	8	,	,	PUNCT
fsr-3845	202	9	adjusting	adjust	VERB
fsr-3845	202	10	mutual	mutual	ADJ
fsr-3845	202	11	fund	fund	NOUN
fsr-3845	202	12	returns	return	NOUN
fsr-3845	202	13	for	for	ADP
fsr-3845	202	14	market	market	NOUN
fsr-3845	202	15	risk	risk	NOUN
fsr-3845	202	16	and	and	CCONJ
fsr-3845	202	17	expense	expense	NOUN
fsr-3845	202	18	ratios	ratio	NOUN
fsr-3845	202	19	does	do	AUX
fsr-3845	202	20	not	not	PART
fsr-3845	202	21	explain	explain	VERB
fsr-3845	202	22	a	a	DET
fsr-3845	202	23	significant	significant	ADJ
fsr-3845	202	24	amount	amount	NOUN
fsr-3845	202	25	of	of	ADP
fsr-3845	202	26	the	the	DET
fsr-3845	202	27	persistence	persistence	NOUN
fsr-3845	202	28	in	in	ADP
fsr-3845	202	29	fund	fund	NOUN
fsr-3845	202	30	returns	return	NOUN
fsr-3845	202	31	.	.	PUNCT
fsr-3845	203	1	moving	move	VERB
fsr-3845	203	2	from	from	ADP
fsr-3845	203	3	model	model	NOUN
fsr-3845	203	4	4	4	NUM
fsr-3845	203	5	to	to	PART
fsr-3845	203	6	model	model	VERB
fsr-3845	203	7	5	5	NUM
fsr-3845	203	8	in	in	ADP
fsr-3845	203	9	panel	panel	NOUN
fsr-3845	203	10	b	b	PROPN
fsr-3845	203	11	reveals	reveal	VERB
fsr-3845	203	12	that	that	SCONJ
fsr-3845	203	13	including	include	VERB
fsr-3845	203	14	the	the	DET
fsr-3845	203	15	size	size	NOUN
fsr-3845	203	16	variable	variable	NOUN
fsr-3845	203	17	in	in	ADP
fsr-3845	203	18	the	the	DET
fsr-3845	203	19	model	model	NOUN
fsr-3845	203	20	reduces	reduce	VERB
fsr-3845	203	21	the	the	DET
fsr-3845	203	22	average	average	ADJ
fsr-3845	203	23	fund	fund	NOUN
fsr-3845	203	24	persistence	persistence	NOUN
fsr-3845	203	25	coefficient	coefficient	NOUN
fsr-3845	203	26	from	from	ADP
fsr-3845	203	27	0.19	0.19	NUM
fsr-3845	203	28	to	to	ADP
fsr-3845	203	29	0.10	0.10	NUM
fsr-3845	203	30	.	.	PUNCT
fsr-3845	204	1	inclusion	inclusion	NOUN
fsr-3845	204	2	of	of	ADP
fsr-3845	204	3	the	the	DET
fsr-3845	204	4	investment	investment	NOUN
fsr-3845	204	5	style	style	NOUN
fsr-3845	204	6	variables	variable	VERB
fsr-3845	204	7	b	b	PROPN
fsr-3845	204	8	/	/	SYM
fsr-3845	204	9	m	m	PROPN
fsr-3845	204	10	,	,	PUNCT
fsr-3845	204	11	e	e	NOUN
fsr-3845	204	12	/	/	SYM
fsr-3845	204	13	m	m	PROPN
fsr-3845	204	14	,	,	PUNCT
fsr-3845	204	15	and	and	CCONJ
fsr-3845	204	16	cf	cf	X
fsr-3845	204	17	/	/	SYM
fsr-3845	204	18	m	m	VERB
fsr-3845	204	19	further	further	ADJ
fsr-3845	204	20	reduces	reduce	VERB
fsr-3845	204	21	the	the	DET
fsr-3845	204	22	year	year	NOUN
fsr-3845	204	23	by	by	ADP
fsr-3845	204	24	-	-	PUNCT
fsr-3845	204	25	year	year	NOUN
fsr-3845	204	26	persistence	persistence	NOUN
fsr-3845	204	27	coefficients	coefficient	NOUN
fsr-3845	204	28	to	to	ADP
fsr-3845	204	29	0.03	0.03	NUM
fsr-3845	204	30	(	(	PUNCT
fsr-3845	204	31	see	see	VERB
fsr-3845	204	32	model	model	NOUN
fsr-3845	204	33	6	6	NUM
fsr-3845	204	34	)	)	PUNCT
fsr-3845	204	35	.	.	PUNCT
fsr-3845	205	1	the	the	DET
fsr-3845	205	2	t	t	PROPN
fsr-3845	205	3	-	-	PUNCT
fsr-3845	205	4	statistic	statistic	NOUN
fsr-3845	205	5	of	of	ADP
fsr-3845	205	6	1.02	1.02	NUM
fsr-3845	205	7	is	be	AUX
fsr-3845	205	8	insignifi	insignifi	NOUN
fsr-3845	205	9	cantly	cantly	ADV
fsr-3845	205	10	different	different	ADJ
fsr-3845	205	11	from	from	ADP
fsr-3845	205	12	zero	zero	NUM
fsr-3845	205	13	,	,	PUNCT
fsr-3845	205	14	which	which	PRON
fsr-3845	205	15	indicates	indicate	VERB
fsr-3845	205	16	that	that	SCONJ
fsr-3845	205	17	accounting	accounting	NOUN
fsr-3845	205	18	for	for	ADP
fsr-3845	205	19	the	the	DET
fsr-3845	205	20	size	size	NOUN
fsr-3845	205	21	and	and	CCONJ
fsr-3845	205	22	style	style	NOUN
fsr-3845	205	23	character	character	NOUN
fsr-3845	205	24	istics	istic	NOUN
fsr-3845	205	25	of	of	ADP
fsr-3845	205	26	the	the	DET
fsr-3845	205	27	stocks	stock	NOUN
fsr-3845	205	28	held	hold	VERB
fsr-3845	205	29	by	by	ADP
fsr-3845	205	30	funds	fund	NOUN
fsr-3845	205	31	using	use	VERB
fsr-3845	205	32	more	more	ADV
fsr-3845	205	33	direct	direct	ADJ
fsr-3845	205	34	and	and	CCONJ
fsr-3845	205	35	parsimonious	parsimonious	ADJ
fsr-3845	205	36	modeling	modeling	NOUN
fsr-3845	205	37	methods	method	NOUN
fsr-3845	205	38	explains	explain	VERB
fsr-3845	205	39	all	all	DET
fsr-3845	205	40	the	the	DET
fsr-3845	205	41	persistence	persistence	NOUN
fsr-3845	205	42	in	in	ADP
fsr-3845	205	43	fund	fund	NOUN
fsr-3845	205	44	returns	return	NOUN
fsr-3845	205	45	for	for	ADP
fsr-3845	205	46	the	the	DET
fsr-3845	205	47	1976	1976	NUM
fsr-3845	205	48	-	-	SYM
fsr-3845	205	49	1985	1985	NUM
fsr-3845	205	50	period	period	NOUN
fsr-3845	205	51	.	.	PUNCT
fsr-3845	206	1	the	the	DET
fsr-3845	206	2	results	result	NOUN
fsr-3845	206	3	reported	report	VERB
fsr-3845	206	4	in	in	ADP
fsr-3845	206	5	panel	panel	NOUN
fsr-3845	206	6	c	c	PROPN
fsr-3845	206	7	of	of	ADP
fsr-3845	206	8	table	table	NOUN
fsr-3845	206	9	3	3	NUM
fsr-3845	206	10	,	,	PUNCT
fsr-3845	206	11	covering	cover	VERB
fsr-3845	206	12	the	the	DET
fsr-3845	206	13	period	period	NOUN
fsr-3845	206	14	1986	1986	NUM
fsr-3845	206	15	-	-	SYM
fsr-3845	206	16	1995	1995	NUM
fsr-3845	206	17	,	,	PUNCT
fsr-3845	206	18	demon	demon	NOUN
fsr-3845	206	19	strate	strate	VERB
fsr-3845	206	20	why	why	SCONJ
fsr-3845	206	21	the	the	DET
fsr-3845	206	22	characteristics	characteristic	NOUN
fsr-3845	206	23	model	model	NOUN
fsr-3845	206	24	explains	explain	VERB
fsr-3845	206	25	more	more	ADJ
fsr-3845	206	26	of	of	ADP
fsr-3845	206	27	the	the	DET
fsr-3845	206	28	persistence	persistence	NOUN
fsr-3845	206	29	in	in	ADP
fsr-3845	206	30	mutual	mutual	ADJ
fsr-3845	206	31	fund	fund	NOUN
fsr-3845	206	32	returns	return	NOUN
fsr-3845	206	33	from	from	ADP
fsr-3845	206	34	1976	1976	NUM
fsr-3845	206	35	-	-	SYM
fsr-3845	206	36	1985	1985	NUM
fsr-3845	206	37	than	than	ADP
fsr-3845	206	38	for	for	ADP
fsr-3845	206	39	the	the	DET
fsr-3845	206	40	entire	entire	ADJ
fsr-3845	206	41	20	20	NUM
fsr-3845	206	42	-	-	PUNCT
fsr-3845	206	43	year	year	NOUN
fsr-3845	206	44	period	period	NOUN
fsr-3845	206	45	(	(	PUNCT
fsr-3845	206	46	panel	panel	NOUN
fsr-3845	206	47	a	a	PRON
fsr-3845	206	48	)	)	PUNCT
fsr-3845	206	49	.	.	PUNCT
fsr-3845	207	1	confirming	confirm	VERB
fsr-3845	207	2	the	the	DET
fsr-3845	207	3	findings	finding	NOUN
fsr-3845	207	4	of	of	ADP
fsr-3845	207	5	previous	previous	ADJ
fsr-3845	207	6	studies	study	NOUN
fsr-3845	207	7	,	,	PUNCT
fsr-3845	207	8	there	there	PRON
fsr-3845	207	9	is	be	VERB
fsr-3845	207	10	virtually	virtually	ADV
fsr-3845	207	11	no	no	DET
fsr-3845	207	12	persistence	persistence	NOUN
fsr-3845	207	13	in	in	ADP
fsr-3845	207	14	fund	fund	NOUN
fsr-3845	207	15	returns	return	NOUN
fsr-3845	207	16	after	after	ADP
fsr-3845	207	17	1985	1985	NUM
fsr-3845	207	18	.	.	PUNCT
fsr-3845	208	1	none	none	NOUN
fsr-3845	208	2	of	of	ADP
fsr-3845	208	3	the	the	DET
fsr-3845	208	4	persistence	persistence	NOUN
fsr-3845	208	5	coefficients	coefficient	NOUN
fsr-3845	208	6	reported	report	VERB
fsr-3845	208	7	in	in	ADP
fsr-3845	208	8	panel	panel	NOUN
fsr-3845	208	9	c	c	PROPN
fsr-3845	208	10	are	be	AUX
fsr-3845	208	11	significant	significant	ADJ
fsr-3845	208	12	at	at	ADP
fsr-3845	208	13	conventional	conventional	ADJ
fsr-3845	208	14	levels	level	NOUN
fsr-3845	208	15	.	.	PUNCT
fsr-3845	209	1	iv	iv	X
fsr-3845	209	2	.	.	PUNCT
fsr-3845	209	3	conclusions	conclusion	NOUN
fsr-3845	209	4	and	and	CCONJ
fsr-3845	209	5	implications	implication	NOUN
fsr-3845	209	6	this	this	DET
fsr-3845	209	7	study	study	NOUN
fsr-3845	209	8	investigates	investigate	VERB
fsr-3845	209	9	the	the	DET
fsr-3845	209	10	factors	factor	NOUN
fsr-3845	209	11	contributing	contribute	VERB
fsr-3845	209	12	to	to	ADP
fsr-3845	209	13	persistence	persistence	NOUN
fsr-3845	209	14	in	in	ADP
fsr-3845	209	15	mutual	mutual	ADJ
fsr-3845	209	16	fund	fund	NOUN
fsr-3845	209	17	performance	performance	NOUN
fsr-3845	209	18	.	.	PUNCT
fsr-3845	210	1	the	the	DET
fsr-3845	210	2	particular	particular	ADJ
fsr-3845	210	3	hypothesis	hypothesis	NOUN
fsr-3845	210	4	tested	test	VERB
fsr-3845	210	5	is	be	AUX
fsr-3845	210	6	that	that	SCONJ
fsr-3845	210	7	a	a	DET
fsr-3845	210	8	greater	great	ADJ
fsr-3845	210	9	amount	amount	NOUN
fsr-3845	210	10	of	of	ADP
fsr-3845	210	11	the	the	DET
fsr-3845	210	12	persistence	persistence	NOUN
fsr-3845	210	13	in	in	ADP
fsr-3845	210	14	mutual	mutual	ADJ
fsr-3845	210	15	fund	fund	NOUN
fsr-3845	210	16	returns	return	NOUN
fsr-3845	210	17	can	can	AUX
fsr-3845	210	18	be	be	AUX
fsr-3845	210	19	explained	explain	VERB
fsr-3845	210	20	than	than	SCONJ
fsr-3845	210	21	has	have	AUX
fsr-3845	210	22	been	be	AUX
fsr-3845	210	23	found	find	VERB
fsr-3845	210	24	by	by	ADP
fsr-3845	210	25	previous	previous	ADJ
fsr-3845	210	26	researchers	researcher	NOUN
fsr-3845	210	27	(	(	PUNCT
fsr-3845	210	28	carhart	carhart	NOUN
fsr-3845	210	29	,	,	PUNCT
fsr-3845	210	30	1997	1997	NUM
fsr-3845	210	31	;	;	PUNCT
fsr-3845	211	1	daniel	daniel	PROPN
fsr-3845	211	2	et	et	PROPN
fsr-3845	211	3	al	al	PROPN
fsr-3845	211	4	.	.	PROPN
fsr-3845	211	5	,	,	PUNCT
fsr-3845	211	6	1997	1997	NUM
fsr-3845	211	7	;	;	PUNCT
fsr-3845	211	8	and	and	CCONJ
fsr-3845	211	9	gruber	gruber	PROPN
fsr-3845	211	10	,	,	PUNCT
fsr-3845	211	11	1996	1996	NUM
fsr-3845	211	12	)	)	PUNCT
fsr-3845	211	13	.	.	PUNCT
fsr-3845	212	1	motivated	motivate	VERB
fsr-3845	212	2	by	by	ADP
fsr-3845	212	3	recent	recent	ADJ
fsr-3845	212	4	studies	study	NOUN
fsr-3845	212	5	into	into	ADP
fsr-3845	212	6	the	the	DET
fsr-3845	212	7	cross	cross	NOUN
fsr-3845	212	8	-	-	NOUN
fsr-3845	212	9	section	section	ADJ
fsr-3845	212	10	54	54	NUM
fsr-3845	212	11	financial	financial	ADJ
fsr-3845	212	12	services	service	NOUN
fsr-3845	212	13	review	review	VERB
fsr-3845	212	14	7(1	7(1	NUM
fsr-3845	212	15	)	)	PUNCT
fsr-3845	212	16	1998	1998	NUM
fsr-3845	212	17	of	of	ADP
fsr-3845	212	18	expected	expect	VERB
fsr-3845	212	19	stock	stock	NOUN
fsr-3845	212	20	returns	return	NOUN
fsr-3845	212	21	(	(	PUNCT
fsr-3845	212	22	daniel	daniel	PROPN
fsr-3845	212	23	&	&	CCONJ
fsr-3845	212	24	titman	titman	PROPN
fsr-3845	212	25	,	,	PUNCT
fsr-3845	212	26	1997	1997	NUM
fsr-3845	212	27	)	)	PUNCT
fsr-3845	212	28	,	,	PUNCT
fsr-3845	212	29	a	a	DET
fsr-3845	212	30	model	model	NOUN
fsr-3845	212	31	is	be	AUX
fsr-3845	212	32	developed	develop	VERB
fsr-3845	212	33	that	that	PRON
fsr-3845	212	34	avoids	avoid	VERB
fsr-3845	212	35	the	the	DET
fsr-3845	212	36	use	use	NOUN
fsr-3845	212	37	of	of	ADP
fsr-3845	212	38	factor	factor	NOUN
fsr-3845	212	39	-	-	PUNCT
fsr-3845	212	40	mimicking	mimic	VERB
fsr-3845	212	41	portfolios	portfolio	NOUN
fsr-3845	212	42	and	and	CCONJ
fsr-3845	212	43	characteristic	characteristic	ADJ
fsr-3845	212	44	benchmarks	benchmark	NOUN
fsr-3845	212	45	and	and	CCONJ
fsr-3845	212	46	instead	instead	ADV
fsr-3845	212	47	directly	directly	ADV
fsr-3845	212	48	relates	relate	VERB
fsr-3845	212	49	mutual	mutual	ADJ
fsr-3845	212	50	fund	fund	NOUN
fsr-3845	212	51	returns	return	NOUN
fsr-3845	212	52	to	to	ADP
fsr-3845	212	53	the	the	DET
fsr-3845	212	54	properties	property	NOUN
fsr-3845	212	55	of	of	ADP
fsr-3845	212	56	the	the	DET
fsr-3845	212	57	stocks	stock	NOUN
fsr-3845	212	58	held	hold	VERB
fsr-3845	212	59	by	by	ADP
fsr-3845	212	60	funds	fund	NOUN
fsr-3845	212	61	.	.	PUNCT
fsr-3845	213	1	consistent	consistent	ADJ
fsr-3845	213	2	with	with	ADP
fsr-3845	213	3	the	the	DET
fsr-3845	213	4	results	result	NOUN
fsr-3845	213	5	reported	report	VERB
fsr-3845	213	6	by	by	ADP
fsr-3845	213	7	previous	previous	ADJ
fsr-3845	213	8	studies	study	NOUN
fsr-3845	213	9	,	,	PUNCT
fsr-3845	213	10	market	market	NOUN
fsr-3845	213	11	risk	risk	NOUN
fsr-3845	213	12	and	and	CCONJ
fsr-3845	213	13	fund	fund	NOUN
fsr-3845	213	14	expense	expense	NOUN
fsr-3845	213	15	ratios	ratio	NOUN
fsr-3845	213	16	explain	explain	VERB
fsr-3845	213	17	only	only	ADV
fsr-3845	213	18	a	a	DET
fsr-3845	213	19	small	small	ADJ
fsr-3845	213	20	amount	amount	NOUN
fsr-3845	213	21	of	of	ADP
fsr-3845	213	22	the	the	DET
fsr-3845	213	23	momentum	momentum	NOUN
fsr-3845	213	24	in	in	ADP
fsr-3845	213	25	mutual	mutual	ADJ
fsr-3845	213	26	fund	fund	NOUN
fsr-3845	213	27	returns	return	NOUN
fsr-3845	213	28	.	.	PUNCT
fsr-3845	214	1	examining	examine	VERB
fsr-3845	214	2	the	the	DET
fsr-3845	214	3	period	period	NOUN
fsr-3845	214	4	in	in	ADP
fsr-3845	214	5	which	which	PRON
fsr-3845	214	6	mutual	mutual	ADJ
fsr-3845	214	7	fund	fund	NOUN
fsr-3845	214	8	return	return	NOUN
fsr-3845	214	9	persistence	persistence	NOUN
fsr-3845	214	10	has	have	AUX
fsr-3845	214	11	been	be	AUX
fsr-3845	214	12	most	most	ADV
fsr-3845	214	13	pronounced	pronounce	VERB
fsr-3845	214	14	(	(	PUNCT
fsr-3845	214	15	1975	1975	NUM
fsr-3845	214	16	-	-	SYM
fsr-3845	214	17	1986	1986	NUM
fsr-3845	214	18	)	)	PUNCT
fsr-3845	214	19	,	,	PUNCT
fsr-3845	214	20	however	however	ADV
fsr-3845	214	21	,	,	PUNCT
fsr-3845	214	22	the	the	DET
fsr-3845	214	23	results	result	NOUN
fsr-3845	214	24	indicate	indicate	VERB
fsr-3845	214	25	that	that	SCONJ
fsr-3845	214	26	accounting	accounting	NOUN
fsr-3845	214	27	for	for	ADP
fsr-3845	214	28	the	the	DET
fsr-3845	214	29	size	size	NOUN
fsr-3845	214	30	of	of	ADP
fsr-3845	214	31	the	the	DET
fsr-3845	214	32	stocks	stock	NOUN
fsr-3845	214	33	held	hold	VERB
fsr-3845	214	34	by	by	ADP
fsr-3845	214	35	funds	fund	NOUN
fsr-3845	214	36	and	and	CCONJ
fsr-3845	214	37	fund	fund	NOUN
fsr-3845	214	38	manager	manager	NOUN
fsr-3845	214	39	investment	investment	NOUN
fsr-3845	214	40	styles	style	NOUN
fsr-3845	214	41	(	(	PUNCT
fsr-3845	214	42	characterized	characterize	VERB
fsr-3845	214	43	by	by	ADP
fsr-3845	214	44	ratios	ratio	NOUN
fsr-3845	214	45	such	such	ADJ
fsr-3845	214	46	as	as	ADP
fsr-3845	214	47	book	book	NOUN
fsr-3845	214	48	-	-	PUNCT
fsr-3845	214	49	to	to	ADP
fsr-3845	214	50	-	-	PUNCT
fsr-3845	214	51	market	market	NOUN
fsr-3845	214	52	,	,	PUNCT
fsr-3845	214	53	earnings	earning	NOUN
fsr-3845	214	54	to	to	ADP
fsr-3845	214	55	-	-	PUNCT
fsr-3845	214	56	market	market	NOUN
fsr-3845	214	57	,	,	PUNCT
fsr-3845	214	58	and	and	CCONJ
fsr-3845	214	59	cash	cash	NOUN
fsr-3845	214	60	flow	flow	NOUN
fsr-3845	214	61	-	-	PUNCT
fsr-3845	214	62	to	to	ADP
fsr-3845	214	63	-	-	PUNCT
fsr-3845	214	64	market	market	NOUN
fsr-3845	214	65	)	)	PUNCT
fsr-3845	214	66	explains	explain	VERB
fsr-3845	214	67	all	all	PRON
fsr-3845	214	68	of	of	ADP
fsr-3845	214	69	the	the	DET
fsr-3845	214	70	persistence	persistence	NOUN
fsr-3845	214	71	in	in	ADP
fsr-3845	214	72	mutual	mutual	ADJ
fsr-3845	214	73	fund	fund	NOUN
fsr-3845	214	74	returns	return	NOUN
fsr-3845	214	75	.	.	PUNCT
fsr-3845	215	1	both	both	DET
fsr-3845	215	2	firm	firm	ADJ
fsr-3845	215	3	size	size	NOUN
fsr-3845	215	4	and	and	CCONJ
fsr-3845	215	5	investment	investment	NOUN
fsr-3845	215	6	style	style	NOUN
fsr-3845	215	7	characteristics	characteristic	NOUN
fsr-3845	215	8	contribute	contribute	VERB
fsr-3845	215	9	to	to	ADP
fsr-3845	215	10	explaining	explain	VERB
fsr-3845	215	11	persistence	persistence	NOUN
fsr-3845	215	12	.	.	PUNCT
fsr-3845	216	1	as	as	SCONJ
fsr-3845	216	2	found	find	VERB
fsr-3845	216	3	by	by	ADP
fsr-3845	216	4	previous	previous	ADJ
fsr-3845	216	5	studies	study	NOUN
fsr-3845	216	6	,	,	PUNCT
fsr-3845	216	7	there	there	PRON
fsr-3845	216	8	is	be	VERB
fsr-3845	216	9	little	little	ADJ
fsr-3845	216	10	evidence	evidence	NOUN
fsr-3845	216	11	of	of	ADP
fsr-3845	216	12	momentum	momentum	NOUN
fsr-3845	216	13	in	in	ADP
fsr-3845	216	14	fund	fund	NOUN
fsr-3845	216	15	returns	return	NOUN
fsr-3845	216	16	during	during	ADP
fsr-3845	216	17	the	the	DET
fsr-3845	216	18	late	late	ADJ
fsr-3845	216	19	1980s	1980	NOUN
fsr-3845	216	20	and	and	CCONJ
fsr-3845	216	21	early	early	ADJ
fsr-3845	216	22	1990s	1990	NOUN
fsr-3845	216	23	.	.	PUNCT
fsr-3845	217	1	these	these	DET
fsr-3845	217	2	findings	finding	NOUN
fsr-3845	217	3	suggest	suggest	VERB
fsr-3845	217	4	that	that	SCONJ
fsr-3845	217	5	investors	investor	NOUN
fsr-3845	217	6	interested	interested	ADJ
fsr-3845	217	7	in	in	ADP
fsr-3845	217	8	allocating	allocate	VERB
fsr-3845	217	9	money	money	NOUN
fsr-3845	217	10	among	among	ADP
fsr-3845	217	11	mutual	mutual	ADJ
fsr-3845	217	12	funds	fund	NOUN
fsr-3845	217	13	would	would	AUX
fsr-3845	217	14	be	be	AUX
fsr-3845	217	15	wise	wise	ADJ
fsr-3845	217	16	to	to	PART
fsr-3845	217	17	consider	consider	VERB
fsr-3845	217	18	more	more	ADJ
fsr-3845	217	19	than	than	ADP
fsr-3845	217	20	recent	recent	ADJ
fsr-3845	217	21	past	past	ADJ
fsr-3845	217	22	performance	performance	NOUN
fsr-3845	217	23	.	.	PUNCT
fsr-3845	218	1	investors	investor	NOUN
fsr-3845	218	2	should	should	AUX
fsr-3845	218	3	also	also	ADV
fsr-3845	218	4	take	take	VERB
fsr-3845	218	5	into	into	ADP
fsr-3845	218	6	account	account	NOUN
fsr-3845	218	7	recent	recent	ADJ
fsr-3845	218	8	trends	trend	NOUN
fsr-3845	218	9	in	in	ADP
fsr-3845	218	10	the	the	DET
fsr-3845	218	11	overall	overall	ADJ
fsr-3845	218	12	stock	stock	NOUN
fsr-3845	218	13	market	market	NOUN
fsr-3845	218	14	,	,	PUNCT
fsr-3845	218	15	such	such	ADJ
fsr-3845	218	16	as	as	ADP
fsr-3845	218	17	whether	whether	SCONJ
fsr-3845	218	18	large	large	ADJ
fsr-3845	218	19	company	company	NOUN
fsr-3845	218	20	stocks	stock	NOUN
fsr-3845	218	21	are	be	AUX
fsr-3845	218	22	outperforming	outperform	VERB
fsr-3845	218	23	small	small	ADJ
fsr-3845	218	24	company	company	NOUN
fsr-3845	218	25	stocks	stock	NOUN
fsr-3845	218	26	and	and	CCONJ
fsr-3845	218	27	whether	whether	SCONJ
fsr-3845	218	28	value	value	NOUN
fsr-3845	218	29	stocks	stock	NOUN
fsr-3845	218	30	are	be	AUX
fsr-3845	218	31	outperform	outperform	ADJ
fsr-3845	218	32	ing	ing	ADJ
fsr-3845	218	33	growth	growth	NOUN
fsr-3845	218	34	stocks	stock	NOUN
fsr-3845	218	35	.	.	PUNCT
fsr-3845	219	1	the	the	DET
fsr-3845	219	2	persistence	persistence	NOUN
fsr-3845	219	3	in	in	ADP
fsr-3845	219	4	fund	fund	NOUN
fsr-3845	219	5	performance	performance	NOUN
fsr-3845	219	6	appears	appear	VERB
fsr-3845	219	7	to	to	PART
fsr-3845	219	8	be	be	AUX
fsr-3845	219	9	driven	drive	VERB
fsr-3845	219	10	almost	almost	ADV
fsr-3845	219	11	entirely	entirely	ADV
fsr-3845	219	12	by	by	ADP
fsr-3845	219	13	trends	trend	NOUN
fsr-3845	219	14	in	in	ADP
fsr-3845	219	15	these	these	DET
fsr-3845	219	16	well	well	ADV
fsr-3845	219	17	-	-	PUNCT
fsr-3845	219	18	known	know	VERB
fsr-3845	219	19	and	and	CCONJ
fsr-3845	219	20	widely	widely	ADV
fsr-3845	219	21	-	-	PUNCT
fsr-3845	219	22	publicized	publicize	VERB
fsr-3845	219	23	investment	investment	NOUN
fsr-3845	219	24	categories	category	NOUN
fsr-3845	219	25	.	.	PUNCT
fsr-3845	220	1	in	in	ADP
fsr-3845	220	2	other	other	ADJ
fsr-3845	220	3	words	word	NOUN
fsr-3845	220	4	,	,	PUNCT
fsr-3845	220	5	instead	instead	ADV
fsr-3845	220	6	of	of	ADP
fsr-3845	220	7	simply	simply	ADV
fsr-3845	220	8	buying	buy	VERB
fsr-3845	220	9	the	the	DET
fsr-3845	220	10	best	well	ADV
fsr-3845	220	11	-	-	PUNCT
fsr-3845	220	12	performing	perform	VERB
fsr-3845	220	13	funds	fund	NOUN
fsr-3845	220	14	from	from	ADP
fsr-3845	220	15	prior	prior	ADJ
fsr-3845	220	16	periods	period	NOUN
fsr-3845	220	17	,	,	PUNCT
fsr-3845	220	18	inves	inve	VERB
fsr-3845	220	19	tors	tor	NOUN
fsr-3845	220	20	should	should	AUX
fsr-3845	220	21	identify	identify	VERB
fsr-3845	220	22	the	the	DET
fsr-3845	220	23	size	size	NOUN
fsr-3845	220	24	and	and	CCONJ
fsr-3845	220	25	style	style	NOUN
fsr-3845	220	26	characteristics	characteristic	NOUN
fsr-3845	220	27	of	of	ADP
fsr-3845	220	28	funds	fund	NOUN
fsr-3845	220	29	and	and	CCONJ
fsr-3845	220	30	research	research	NOUN
fsr-3845	220	31	current	current	ADJ
fsr-3845	220	32	market	market	NOUN
fsr-3845	220	33	trends	trend	NOUN
fsr-3845	220	34	in	in	ADP
fsr-3845	220	35	these	these	DET
fsr-3845	220	36	factors	factor	NOUN
fsr-3845	220	37	.	.	PUNCT
fsr-3845	221	1	during	during	ADP
fsr-3845	221	2	periods	period	NOUN
fsr-3845	221	3	when	when	SCONJ
fsr-3845	221	4	large	large	ADJ
fsr-3845	221	5	-	-	PUNCT
fsr-3845	221	6	capitalization	capitalization	NOUN
fsr-3845	221	7	stocks	stock	NOUN
fsr-3845	221	8	begin	begin	VERB
fsr-3845	221	9	outperform	outperform	ADJ
fsr-3845	221	10	ing	ing	ADJ
fsr-3845	221	11	smaller	small	ADJ
fsr-3845	221	12	stocks	stock	NOUN
fsr-3845	221	13	,	,	PUNCT
fsr-3845	221	14	buying	buy	VERB
fsr-3845	221	15	funds	fund	NOUN
fsr-3845	221	16	that	that	PRON
fsr-3845	221	17	invest	invest	VERB
fsr-3845	221	18	in	in	ADP
fsr-3845	221	19	larger	large	ADJ
fsr-3845	221	20	stocks	stock	NOUN
fsr-3845	221	21	should	should	AUX
fsr-3845	221	22	also	also	ADV
fsr-3845	221	23	produce	produce	VERB
fsr-3845	221	24	superior	superior	ADJ
fsr-3845	221	25	results	result	NOUN
fsr-3845	221	26	.	.	PUNCT
fsr-3845	222	1	similarly	similarly	ADV
fsr-3845	222	2	,	,	PUNCT
fsr-3845	222	3	recent	recent	ADJ
fsr-3845	222	4	trends	trend	NOUN
fsr-3845	222	5	in	in	ADP
fsr-3845	222	6	value	value	NOUN
fsr-3845	222	7	and	and	CCONJ
fsr-3845	222	8	growth	growth	NOUN
fsr-3845	222	9	stocks	stock	NOUN
fsr-3845	222	10	should	should	AUX
fsr-3845	222	11	be	be	AUX
fsr-3845	222	12	reflected	reflect	VERB
fsr-3845	222	13	in	in	ADP
fsr-3845	222	14	the	the	DET
fsr-3845	222	15	rela	rela	PROPN
fsr-3845	222	16	tive	tive	PROPN
fsr-3845	222	17	performance	performance	NOUN
fsr-3845	222	18	of	of	ADP
fsr-3845	222	19	funds	fund	NOUN
fsr-3845	222	20	that	that	PRON
fsr-3845	222	21	invest	invest	VERB
fsr-3845	222	22	according	accord	VERB
fsr-3845	222	23	to	to	ADP
fsr-3845	222	24	these	these	DET
fsr-3845	222	25	criteria	criterion	NOUN
fsr-3845	222	26	.	.	PUNCT
fsr-3845	223	1	acknowledgment	acknowledgment	NOUN
fsr-3845	223	2	:	:	PUNCT
fsr-3845	223	3	the	the	DET
fsr-3845	223	4	authors	author	NOUN
fsr-3845	223	5	would	would	AUX
fsr-3845	223	6	like	like	VERB
fsr-3845	223	7	to	to	PART
fsr-3845	223	8	thank	thank	VERB
fsr-3845	223	9	charles	charles	PROPN
fsr-3845	223	10	bailey	bailey	PROPN
fsr-3845	223	11	,	,	PUNCT
fsr-3845	223	12	thomas	thomas	PROPN
fsr-3845	223	13	evans	evans	PROPN
fsr-3845	223	14	,	,	PUNCT
fsr-3845	223	15	karen	karen	PROPN
fsr-3845	223	16	eilers	eilers	PROPN
fsr-3845	223	17	lahey	lahey	PROPN
fsr-3845	223	18	(	(	PUNCT
fsr-3845	223	19	the	the	DET
fsr-3845	223	20	editor	editor	NOUN
fsr-3845	223	21	)	)	PUNCT
fsr-3845	223	22	,	,	PUNCT
fsr-3845	223	23	james	james	PROPN
fsr-3845	223	24	mcbrayer	mcbrayer	PROPN
fsr-3845	223	25	,	,	PUNCT
fsr-3845	223	26	paul	paul	PROPN
fsr-3845	223	27	miller	miller	PROPN
fsr-3845	223	28	,	,	PUNCT
fsr-3845	223	29	shawn	shawn	PROPN
fsr-3845	223	30	phelps	phelps	PROPN
fsr-3845	223	31	,	,	PUNCT
fsr-3845	223	32	and	and	CCONJ
fsr-3845	223	33	two	two	NUM
fsr-3845	223	34	anonymous	anonymous	ADJ
fsr-3845	223	35	reviewers	reviewer	NOUN
fsr-3845	223	36	for	for	ADP
fsr-3845	223	37	their	their	PRON
fsr-3845	223	38	helpful	helpful	ADJ
fsr-3845	223	39	comments	comment	NOUN
fsr-3845	223	40	and	and	CCONJ
fsr-3845	223	41	suggestions	suggestion	NOUN
fsr-3845	223	42	.	.	PUNCT
fsr-3845	224	1	references	reference	NOUN
fsr-3845	224	2	bajaj	bajaj	PROPN
fsr-3845	224	3	,	,	PUNCT
fsr-3845	224	4	m.	m.	NOUN
fsr-3845	224	5	,	,	PUNCT
fsr-3845	224	6	&	&	CCONJ
fsr-3845	224	7	vijh	vijh	NOUN
fsr-3845	224	8	,	,	PUNCT
fsr-3845	224	9	a.	a.	NOUN
fsr-3845	224	10	(	(	PUNCT
fsr-3845	224	11	1995	1995	NUM
fsr-3845	224	12	)	)	PUNCT
fsr-3845	224	13	.	.	PUNCT
fsr-3845	225	1	trading	trading	NOUN
fsr-3845	225	2	behavior	behavior	NOUN
fsr-3845	225	3	and	and	CCONJ
fsr-3845	225	4	the	the	DET
fsr-3845	225	5	unbiasedness	unbiasedness	NOUN
fsr-3845	225	6	of	of	ADP
fsr-3845	225	7	the	the	DET
fsr-3845	225	8	market	market	NOUN
fsr-3845	225	9	reaction	reaction	NOUN
fsr-3845	225	10	to	to	ADP
fsr-3845	225	11	divi	divi	PROPN
fsr-3845	225	12	dend	dend	VERB
fsr-3845	225	13	announcements	announcement	NOUN
fsr-3845	225	14	.	.	PUNCT
fsr-3845	226	1	journal	journal	PROPN
fsr-3845	226	2	of	of	ADP
fsr-3845	226	3	finance	finance	NOUN
fsr-3845	226	4	,	,	PUNCT
fsr-3845	226	5	50	50	NUM
fsr-3845	226	6	,	,	PUNCT
fsr-3845	226	7	255	255	NUM
fsr-3845	226	8	-	-	SYM
fsr-3845	226	9	279	279	NUM
fsr-3845	226	10	.	.	PUNCT
fsr-3845	227	1	brown	brown	PROPN
fsr-3845	227	2	,	,	PUNCT
fsr-3845	227	3	s.	s.	PROPN
fsr-3845	227	4	,	,	PUNCT
fsr-3845	227	5	&	&	CCONJ
fsr-3845	227	6	goetzmann	goetzmann	PROPN
fsr-3845	227	7	,	,	PUNCT
fsr-3845	227	8	w.	w.	PROPN
fsr-3845	227	9	(	(	PUNCT
fsr-3845	227	10	1995	1995	NUM
fsr-3845	227	11	)	)	PUNCT
fsr-3845	227	12	.	.	PUNCT
fsr-3845	228	1	performance	performance	NOUN
fsr-3845	228	2	persistence	persistence	NOUN
fsr-3845	228	3	.	.	PUNCT
fsr-3845	229	1	journal	journal	PROPN
fsr-3845	229	2	of	of	ADP
fsr-3845	229	3	finance	finance	NOUN
fsr-3845	229	4	,	,	PUNCT
fsr-3845	229	5	50	50	NUM
fsr-3845	229	6	,	,	PUNCT
fsr-3845	229	7	679	679	NUM
fsr-3845	229	8	-	-	PUNCT
fsr-3845	229	9	-698	-698	PROPN
fsr-3845	229	10	.	.	PUNCT
fsr-3845	229	11	carhart	carhart	NOUN
fsr-3845	229	12	,	,	PUNCT
fsr-3845	229	13	m.	m.	NOUN
fsr-3845	229	14	(	(	PUNCT
fsr-3845	229	15	1997	1997	NUM
fsr-3845	229	16	)	)	PUNCT
fsr-3845	229	17	.	.	PUNCT
fsr-3845	230	1	on	on	ADP
fsr-3845	230	2	persistence	persistence	NOUN
fsr-3845	230	3	in	in	ADP
fsr-3845	230	4	mutual	mutual	ADJ
fsr-3845	230	5	fund	fund	NOUN
fsr-3845	230	6	performance	performance	NOUN
fsr-3845	230	7	.	.	PUNCT
fsr-3845	231	1	journal	journal	PROPN
fsr-3845	231	2	of	of	ADP
fsr-3845	231	3	finance	finance	NOUN
fsr-3845	231	4	,	,	PUNCT
fsr-3845	231	5	52	52	NUM
fsr-3845	231	6	,	,	PUNCT
fsr-3845	231	7	57	57	NUM
fsr-3845	231	8	-	-	SYM
fsr-3845	231	9	82	82	NUM
fsr-3845	231	10	.	.	PUNCT
fsr-3845	232	1	daniel	daniel	PROPN
fsr-3845	232	2	,	,	PUNCT
fsr-3845	232	3	k.	k.	PROPN
fsr-3845	232	4	,	,	PUNCT
fsr-3845	232	5	&	&	CCONJ
fsr-3845	232	6	titman	titman	PROPN
fsr-3845	232	7	,	,	PUNCT
fsr-3845	232	8	s.	s.	PROPN
fsr-3845	232	9	(	(	PUNCT
fsr-3845	232	10	1997	1997	NUM
fsr-3845	232	11	)	)	PUNCT
fsr-3845	232	12	.	.	PUNCT
fsr-3845	233	1	evidence	evidence	NOUN
fsr-3845	233	2	on	on	ADP
fsr-3845	233	3	the	the	DET
fsr-3845	233	4	characteristics	characteristic	NOUN
fsr-3845	233	5	of	of	ADP
fsr-3845	233	6	cross	cross	ADJ
fsr-3845	233	7	sectional	sectional	ADJ
fsr-3845	233	8	variation	variation	NOUN
fsr-3845	233	9	in	in	ADP
fsr-3845	233	10	stock	stock	NOUN
fsr-3845	233	11	returns	return	NOUN
fsr-3845	233	12	.	.	PUNCT
fsr-3845	234	1	journal	journal	NOUN
fsr-3845	234	2	of	of	ADP
fsr-3845	234	3	finance	finance	NOUN
fsr-3845	234	4	,	,	PUNCT
fsr-3845	234	5	52	52	NUM
fsr-3845	234	6	,	,	PUNCT
fsr-3845	234	7	1	1	NUM
fsr-3845	234	8	-	-	SYM
fsr-3845	234	9	33	33	NUM
fsr-3845	234	10	.	.	PUNCT
fsr-3845	235	1	daniel	daniel	PROPN
fsr-3845	235	2	,	,	PUNCT
fsr-3845	235	3	k.	k.	PROPN
fsr-3845	235	4	,	,	PUNCT
fsr-3845	235	5	grinblatt	grinblatt	PROPN
fsr-3845	235	6	,	,	PUNCT
fsr-3845	235	7	m.	m.	NOUN
fsr-3845	235	8	,	,	PUNCT
fsr-3845	235	9	titman	titman	NOUN
fsr-3845	235	10	,	,	PUNCT
fsr-3845	235	11	s.	s.	PROPN
fsr-3845	235	12	,	,	PUNCT
fsr-3845	235	13	&	&	CCONJ
fsr-3845	235	14	wermers	wermer	NOUN
fsr-3845	235	15	,	,	PUNCT
fsr-3845	235	16	r.	r.	PROPN
fsr-3845	235	17	(	(	PUNCT
fsr-3845	235	18	1997	1997	NUM
fsr-3845	235	19	)	)	PUNCT
fsr-3845	235	20	.	.	PUNCT
fsr-3845	236	1	measuring	measure	VERB
fsr-3845	236	2	mutual	mutual	ADJ
fsr-3845	236	3	fund	fund	NOUN
fsr-3845	236	4	performance	performance	NOUN
fsr-3845	236	5	with	with	ADP
fsr-3845	236	6	characteristic	characteristic	NOUN
fsr-3845	236	7	-	-	PUNCT
fsr-3845	236	8	based	base	VERB
fsr-3845	236	9	benchmarks	benchmark	NOUN
fsr-3845	236	10	.	.	PUNCT
fsr-3845	237	1	journal	journal	NOUN
fsr-3845	237	2	of	of	ADP
fsr-3845	237	3	finance	finance	NOUN
fsr-3845	237	4	,	,	PUNCT
fsr-3845	237	5	52	52	NUM
fsr-3845	237	6	,	,	PUNCT
fsr-3845	237	7	1035	1035	NUM
fsr-3845	237	8	-	-	SYM
fsr-3845	237	9	1058	1058	NUM
fsr-3845	237	10	.	.	PUNCT
fsr-3845	238	1	fama	fama	PROPN
fsr-3845	238	2	,	,	PUNCT
fsr-3845	238	3	e.	e.	PROPN
fsr-3845	238	4	,	,	PUNCT
fsr-3845	238	5	&	&	CCONJ
fsr-3845	238	6	macbeth	macbeth	PROPN
fsr-3845	238	7	,	,	PUNCT
fsr-3845	238	8	j.	j.	PROPN
fsr-3845	238	9	(	(	PUNCT
fsr-3845	238	10	1973	1973	NUM
fsr-3845	238	11	)	)	PUNCT
fsr-3845	238	12	.	.	PUNCT
fsr-3845	239	1	risk	risk	NOUN
fsr-3845	239	2	,	,	PUNCT
fsr-3845	239	3	return	return	NOUN
fsr-3845	239	4	,	,	PUNCT
fsr-3845	239	5	and	and	CCONJ
fsr-3845	239	6	equilibrium	equilibrium	NOUN
fsr-3845	239	7	:	:	PUNCT
fsr-3845	239	8	empirical	empirical	ADJ
fsr-3845	239	9	tests	test	NOUN
fsr-3845	239	10	.	.	PUNCT
fsr-3845	240	1	journal	journal	NOUN
fsr-3845	240	2	of	of	ADP
fsr-3845	240	3	political	political	ADJ
fsr-3845	240	4	economy	economy	NOUN
fsr-3845	240	5	,	,	PUNCT
fsr-3845	240	6	81,607	81,607	NUM
fsr-3845	240	7	-	-	PUNCT
fsr-3845	240	8	-636	-636	PROPN
fsr-3845	240	9	.	.	PUNCT
fsr-3845	240	10	fama	fama	PROPN
fsr-3845	240	11	,	,	PUNCT
fsr-3845	240	12	e.	e.	PROPN
fsr-3845	240	13	,	,	PUNCT
fsr-3845	240	14	&	&	CCONJ
fsr-3845	240	15	french	french	PROPN
fsr-3845	240	16	,	,	PUNCT
fsr-3845	240	17	k.	k.	PROPN
fsr-3845	240	18	(	(	PUNCT
fsr-3845	240	19	1992	1992	NUM
fsr-3845	240	20	)	)	PUNCT
fsr-3845	240	21	.	.	PUNCT
fsr-3845	241	1	the	the	DET
fsr-3845	241	2	cross	cross	NOUN
fsr-3845	241	3	-	-	NOUN
fsr-3845	241	4	section	section	NOUN
fsr-3845	241	5	of	of	ADP
fsr-3845	241	6	expected	expect	VERB
fsr-3845	241	7	stock	stock	NOUN
fsr-3845	241	8	returns	return	NOUN
fsr-3845	241	9	.	.	PUNCT
fsr-3845	242	1	journal	journal	NOUN
fsr-3845	242	2	of	of	ADP
fsr-3845	242	3	finance	finance	NOUN
fsr-3845	242	4	,	,	PUNCT
fsr-3845	242	5	47	47	NUM
fsr-3845	242	6	,	,	PUNCT
fsr-3845	242	7	427	427	NUM
fsr-3845	242	8	-	-	PUNCT
fsr-3845	242	9	-465	-465	PROPN
fsr-3845	242	10	.	.	PUNCT
fsr-3845	243	1	fama	fama	PROPN
fsr-3845	243	2	,	,	PUNCT
fsr-3845	243	3	e.	e.	PROPN
fsr-3845	243	4	,	,	PUNCT
fsr-3845	243	5	&	&	CCONJ
fsr-3845	243	6	french	french	PROPN
fsr-3845	243	7	,	,	PUNCT
fsr-3845	243	8	k.	k.	PROPN
fsr-3845	243	9	(	(	PUNCT
fsr-3845	243	10	1995	1995	NUM
fsr-3845	243	11	)	)	PUNCT
fsr-3845	243	12	.	.	PUNCT
fsr-3845	244	1	size	size	NOUN
fsr-3845	244	2	and	and	CCONJ
fsr-3845	244	3	book	book	NOUN
fsr-3845	244	4	-	-	PUNCT
fsr-3845	244	5	to	to	ADP
fsr-3845	244	6	-	-	PUNCT
fsr-3845	244	7	market	market	NOUN
fsr-3845	244	8	factors	factor	NOUN
fsr-3845	244	9	in	in	ADP
fsr-3845	244	10	earnings	earning	NOUN
fsr-3845	244	11	and	and	CCONJ
fsr-3845	244	12	returns	return	NOUN
fsr-3845	244	13	.	.	PUNCT
fsr-3845	245	1	journal	journal	NOUN
fsr-3845	245	2	of	of	ADP
fsr-3845	245	3	finance	finance	NOUN
fsr-3845	245	4	,	,	PUNCT
fsr-3845	245	5	50	50	NUM
fsr-3845	245	6	,	,	PUNCT
fsr-3845	245	7	131	131	NUM
fsr-3845	245	8	-	-	SYM
fsr-3845	245	9	156	156	NUM
fsr-3845	245	10	.	.	PUNCT
fsr-3845	246	1	explaining	explain	VERB
fsr-3845	246	2	persistence	persistence	NOUN
fsr-3845	246	3	55	55	NUM
fsr-3845	246	4	fama	fama	NOUN
fsr-3845	246	5	,	,	PUNCT
fsr-3845	246	6	e.	e.	PROPN
fsr-3845	246	7	,	,	PUNCT
fsr-3845	246	8	&	&	CCONJ
fsr-3845	246	9	french	french	PROPN
fsr-3845	246	10	,	,	PUNCT
fsr-3845	246	11	k.	k.	PROPN
fsr-3845	246	12	(	(	PUNCT
fsr-3845	246	13	1996	1996	NUM
fsr-3845	246	14	)	)	PUNCT
fsr-3845	246	15	.	.	PUNCT
fsr-3845	247	1	multifactor	multifactor	NOUN
fsr-3845	247	2	explanations	explanation	NOUN
fsr-3845	247	3	of	of	ADP
fsr-3845	247	4	asset	asset	NOUN
fsr-3845	247	5	pricing	pricing	NOUN
fsr-3845	247	6	anomalies	anomaly	NOUN
fsr-3845	247	7	.	.	PUNCT
fsr-3845	248	1	journal	journal	NOUN
fsr-3845	248	2	of	of	ADP
fsr-3845	248	3	financial	financial	ADJ
fsr-3845	248	4	economics	economic	NOUN
fsr-3845	248	5	,	,	PUNCT
fsr-3845	248	6	51	51	NUM
fsr-3845	248	7	,	,	PUNCT
fsr-3845	248	8	55	55	NUM
fsr-3845	248	9	-	-	SYM
fsr-3845	248	10	84	84	NUM
fsr-3845	248	11	.	.	PUNCT
fsr-3845	249	1	golec	golec	NOUN
fsr-3845	249	2	,	,	PUNCT
fsr-3845	249	3	j.	j.	PROPN
fsr-3845	249	4	(	(	PUNCT
fsr-3845	249	5	1996	1996	NUM
fsr-3845	249	6	)	)	PUNCT
fsr-3845	249	7	.	.	PUNCT
fsr-3845	250	1	the	the	DET
fsr-3845	250	2	effects	effect	NOUN
fsr-3845	250	3	of	of	ADP
fsr-3845	250	4	mutual	mutual	ADJ
fsr-3845	250	5	fund	fund	NOUN
fsr-3845	250	6	managers	manager	NOUN
fsr-3845	250	7	'	'	PART
fsr-3845	250	8	characteristics	characteristic	NOUN
fsr-3845	250	9	on	on	ADP
fsr-3845	250	10	their	their	PRON
fsr-3845	250	11	portfolio	portfolio	NOUN
fsr-3845	250	12	performance	performance	NOUN
fsr-3845	250	13	,	,	PUNCT
fsr-3845	250	14	risk	risk	NOUN
fsr-3845	250	15	and	and	CCONJ
fsr-3845	250	16	fees	fee	NOUN
fsr-3845	250	17	.	.	PUNCT
fsr-3845	251	1	financial	financial	ADJ
fsr-3845	251	2	services	service	NOUN
fsr-3845	251	3	review	review	PROPN
fsr-3845	251	4	,	,	PUNCT
fsr-3845	251	5	5	5	NUM
fsr-3845	251	6	,	,	PUNCT
fsr-3845	251	7	133	133	NUM
fsr-3845	251	8	-	-	SYM
fsr-3845	251	9	147	147	NUM
fsr-3845	251	10	.	.	PUNCT
fsr-3845	252	1	gruber	gruber	PROPN
fsr-3845	252	2	,	,	PUNCT
fsr-3845	252	3	m.	m.	NOUN
fsr-3845	252	4	(	(	PUNCT
fsr-3845	252	5	1996	1996	NUM
fsr-3845	252	6	)	)	PUNCT
fsr-3845	252	7	.	.	PUNCT
fsr-3845	253	1	another	another	DET
fsr-3845	253	2	puzzle	puzzle	NOUN
fsr-3845	253	3	:	:	PUNCT
fsr-3845	253	4	the	the	DET
fsr-3845	253	5	growth	growth	NOUN
fsr-3845	253	6	in	in	ADP
fsr-3845	253	7	actively	actively	ADV
fsr-3845	253	8	managed	manage	VERB
fsr-3845	253	9	mutual	mutual	ADJ
fsr-3845	253	10	funds	fund	NOUN
fsr-3845	253	11	.	.	PUNCT
fsr-3845	254	1	journal	journal	PROPN
fsr-3845	254	2	of	of	ADP
fsr-3845	254	3	finance	finance	NOUN
fsr-3845	254	4	,	,	PUNCT
fsr-3845	254	5	51,783	51,783	NUM
fsr-3845	254	6	-	-	SYM
fsr-3845	254	7	810	810	NUM
fsr-3845	254	8	.	.	PUNCT
fsr-3845	255	1	hendricks	hendrick	NOUN
fsr-3845	255	2	,	,	PUNCT
fsr-3845	255	3	d.	d.	PROPN
fsr-3845	255	4	,	,	PUNCT
fsr-3845	255	5	patel	patel	PROPN
fsr-3845	255	6	,	,	PUNCT
fsr-3845	255	7	j.	j.	PROPN
fsr-3845	255	8	,	,	PUNCT
fsr-3845	255	9	&	&	CCONJ
fsr-3845	255	10	zeckhauser	zeckhauser	PROPN
fsr-3845	255	11	,	,	PUNCT
fsr-3845	255	12	r.	r.	PROPN
fsr-3845	255	13	(	(	PUNCT
fsr-3845	255	14	1993	1993	NUM
fsr-3845	255	15	)	)	PUNCT
fsr-3845	255	16	.	.	PUNCT
fsr-3845	256	1	hot	hot	ADJ
fsr-3845	256	2	hands	hand	NOUN
fsr-3845	256	3	in	in	ADP
fsr-3845	256	4	mutual	mutual	ADJ
fsr-3845	256	5	funds	fund	NOUN
fsr-3845	256	6	:	:	PUNCT
fsr-3845	256	7	short	short	ADJ
fsr-3845	256	8	-	-	PUNCT
fsr-3845	256	9	run	run	NOUN
fsr-3845	256	10	persistence	persistence	NOUN
fsr-3845	256	11	of	of	ADP
fsr-3845	256	12	relative	relative	ADJ
fsr-3845	256	13	performance	performance	NOUN
fsr-3845	256	14	,	,	PUNCT
fsr-3845	256	15	1974	1974	NUM
fsr-3845	256	16	-	-	SYM
fsr-3845	256	17	1988	1988	NUM
fsr-3845	256	18	.	.	PUNCT
fsr-3845	257	1	journal	journal	NOUN
fsr-3845	257	2	of	of	ADP
fsr-3845	257	3	finance	finance	NOUN
fsr-3845	257	4	,	,	PUNCT
fsr-3845	257	5	48	48	NUM
fsr-3845	257	6	,	,	PUNCT
fsr-3845	257	7	93	93	NUM
fsr-3845	257	8	-	-	SYM
fsr-3845	257	9	130	130	NUM
fsr-3845	257	10	.	.	PUNCT
fsr-3845	258	1	investment	investment	NOUN
fsr-3845	258	2	company	company	PROPN
fsr-3845	258	3	institute	institute	NOUN
fsr-3845	258	4	.	.	PUNCT
fsr-3845	259	1	(	(	PUNCT
fsr-3845	259	2	1998	1998	NUM
fsr-3845	259	3	)	)	PUNCT
fsr-3845	259	4	.	.	PUNCT
fsr-3845	260	1	mutual	mutual	ADJ
fsr-3845	260	2	fund	fund	NOUN
fsr-3845	260	3	fact	fact	NOUN
fsr-3845	260	4	book	book	NOUN
fsr-3845	260	5	.	.	PUNCT
fsr-3845	261	1	washington	washington	PROPN
fsr-3845	261	2	,	,	PUNCT
fsr-3845	261	3	dc	dc	PROPN
fsr-3845	261	4	:	:	PUNCT
fsr-3845	261	5	ici	ici	PROPN
fsr-3845	261	6	.	.	PUNCT
fsr-3845	262	1	ippolito	ippolito	PROPN
fsr-3845	262	2	,	,	PUNCT
fsr-3845	262	3	r.a	r.a	PROPN
fsr-3845	262	4	.	.	PROPN
fsr-3845	262	5	(	(	PUNCT
fsr-3845	262	6	1992	1992	NUM
fsr-3845	262	7	)	)	PUNCT
fsr-3845	262	8	.	.	PUNCT
fsr-3845	263	1	consumer	consumer	NOUN
fsr-3845	263	2	reaction	reaction	NOUN
fsr-3845	263	3	to	to	ADP
fsr-3845	263	4	measures	measure	NOUN
fsr-3845	263	5	of	of	ADP
fsr-3845	263	6	poor	poor	ADJ
fsr-3845	263	7	quality	quality	NOUN
fsr-3845	263	8	.	.	PUNCT
fsr-3845	264	1	journal	journal	PROPN
fsr-3845	264	2	of	of	ADP
fsr-3845	264	3	law	law	PROPN
fsr-3845	264	4	and	and	CCONJ
fsr-3845	264	5	econom	econom	PROPN
fsr-3845	264	6	ics	ics	PROPN
fsr-3845	264	7	,	,	PUNCT
fsr-3845	264	8	35	35	NUM
fsr-3845	264	9	,	,	PUNCT
fsr-3845	264	10	45	45	NUM
fsr-3845	264	11	-	-	SYM
fsr-3845	264	12	70	70	NUM
fsr-3845	264	13	.	.	PUNCT
fsr-3845	265	1	lakonishok	lakonishok	PROPN
fsr-3845	265	2	,	,	PUNCT
fsr-3845	265	3	j.	j.	PROPN
fsr-3845	265	4	,	,	PUNCT
fsr-3845	265	5	shleifer	shleifer	PROPN
fsr-3845	265	6	,	,	PUNCT
fsr-3845	265	7	a.	a.	PROPN
fsr-3845	265	8	,	,	PUNCT
fsr-3845	265	9	&	&	CCONJ
fsr-3845	265	10	vishny	vishny	PROPN
fsr-3845	265	11	,	,	PUNCT
fsr-3845	265	12	r.	r.	PROPN
fsr-3845	265	13	(	(	PUNCT
fsr-3845	265	14	1992	1992	NUM
fsr-3845	265	15	)	)	PUNCT
fsr-3845	265	16	.	.	PUNCT
fsr-3845	266	1	the	the	DET
fsr-3845	266	2	structure	structure	NOUN
fsr-3845	266	3	and	and	CCONJ
fsr-3845	266	4	performance	performance	NOUN
fsr-3845	266	5	of	of	ADP
fsr-3845	266	6	the	the	DET
fsr-3845	266	7	money	money	NOUN
fsr-3845	266	8	man	man	NOUN
fsr-3845	266	9	agement	agement	NOUN
fsr-3845	266	10	industry	industry	PROPN
fsr-3845	266	11	.	.	PUNCT
fsr-3845	267	1	brookings	brookings	PROPN
fsr-3845	267	2	papers	paper	NOUN
fsr-3845	267	3	on	on	ADP
fsr-3845	267	4	economic	economic	ADJ
fsr-3845	267	5	activity	activity	NOUN
fsr-3845	267	6	:	:	PUNCT
fsr-3845	267	7	microeconomics	microeconomic	NOUN
fsr-3845	267	8	,	,	PUNCT
fsr-3845	267	9	339	339	NUM
fsr-3845	267	10	-	-	SYM
fsr-3845	267	11	391	391	NUM
fsr-3845	267	12	.	.	PUNCT
fsr-3845	268	1	malkiel	malkiel	PROPN
fsr-3845	268	2	,	,	PUNCT
fsr-3845	268	3	b.	b.	PROPN
fsr-3845	268	4	(	(	PUNCT
fsr-3845	268	5	1995	1995	NUM
fsr-3845	268	6	)	)	PUNCT
fsr-3845	268	7	.	.	PUNCT
fsr-3845	269	1	returns	return	NOUN
fsr-3845	269	2	from	from	ADP
fsr-3845	269	3	investing	invest	VERB
fsr-3845	269	4	in	in	ADP
fsr-3845	269	5	equity	equity	NOUN
fsr-3845	269	6	mutual	mutual	ADJ
fsr-3845	269	7	funds	fund	NOUN
fsr-3845	269	8	!	!	PUNCT
fsr-3845	270	1	971	971	NUM
fsr-3845	270	2	to	to	ADP
fsr-3845	270	3	1991	1991	NUM
fsr-3845	270	4	.	.	PUNCT
fsr-3845	271	1	journal	journal	NOUN
fsr-3845	271	2	of	of	ADP
fsr-3845	271	3	finance	finance	NOUN
fsr-3845	271	4	,	,	PUNCT
fsr-3845	271	5	50	50	NUM
fsr-3845	271	6	,	,	PUNCT
fsr-3845	271	7	549	549	NUM
fsr-3845	271	8	-	-	SYM
fsr-3845	271	9	572	572	NUM
fsr-3845	271	10	.	.	PUNCT
fsr-3845	272	1	patel	patel	PROPN
fsr-3845	272	2	,	,	PUNCT
fsr-3845	272	3	j.	j.	PROPN
fsr-3845	272	4	,	,	PUNCT
fsr-3845	272	5	zeckhauser	zeckhauser	PROPN
fsr-3845	272	6	,	,	PUNCT
fsr-3845	272	7	r.	r.	PROPN
fsr-3845	272	8	,	,	PUNCT
fsr-3845	272	9	&	&	CCONJ
fsr-3845	272	10	hendricks	hendrick	NOUN
fsr-3845	272	11	,	,	PUNCT
fsr-3845	272	12	d.	d.	PROPN
fsr-3845	272	13	(	(	PUNCT
fsr-3845	272	14	1992	1992	NUM
fsr-3845	272	15	)	)	PUNCT
fsr-3845	272	16	.	.	PUNCT
fsr-3845	273	1	investment	investment	NOUN
fsr-3845	273	2	flows	flow	NOUN
fsr-3845	273	3	and	and	CCONJ
fsr-3845	273	4	performance	performance	NOUN
fsr-3845	273	5	:	:	PUNCT
fsr-3845	273	6	evidence	evidence	NOUN
fsr-3845	273	7	from	from	ADP
fsr-3845	273	8	mutual	mutual	ADJ
fsr-3845	273	9	funds	fund	NOUN
fsr-3845	273	10	,	,	PUNCT
fsr-3845	273	11	cross	cross	ADJ
fsr-3845	273	12	-	-	ADJ
fsr-3845	273	13	border	border	ADJ
fsr-3845	273	14	investments	investment	NOUN
fsr-3845	273	15	and	and	CCONJ
fsr-3845	273	16	new	new	ADJ
fsr-3845	273	17	issues	issue	NOUN
fsr-3845	273	18	.	.	PUNCT
fsr-3845	274	1	in	in	ADP
fsr-3845	274	2	r.	r.	PROPN
fsr-3845	274	3	sato	sato	PROPN
fsr-3845	274	4	,	,	PUNCT
fsr-3845	274	5	r.	r.	PROPN
fsr-3845	274	6	levitch	levitch	PROPN
fsr-3845	274	7	&	&	CCONJ
fsr-3845	274	8	r.	r.	PROPN
fsr-3845	274	9	ram	ram	PROPN
fsr-3845	274	10	achandran	achandran	PROPN
fsr-3845	274	11	(	(	PUNCT
fsr-3845	274	12	eds	ed	NOUN
fsr-3845	274	13	.	.	PUNCT
fsr-3845	274	14	)	)	PUNCT
fsr-3845	274	15	,	,	PUNCT
fsr-3845	274	16	japan	japan	PROPN
fsr-3845	274	17	,	,	PUNCT
fsr-3845	274	18	europe	europe	PROPN
fsr-3845	274	19	and	and	CCONJ
fsr-3845	274	20	the	the	DET
fsr-3845	274	21	international	international	ADJ
fsr-3845	274	22	financial	financial	ADJ
fsr-3845	274	23	markets	market	NOUN
fsr-3845	274	24	:	:	PUNCT
fsr-3845	274	25	analytical	analytical	ADJ
fsr-3845	274	26	and	and	CCONJ
fsr-3845	274	27	empirical	empirical	ADJ
fsr-3845	274	28	perspectives	perspective	NOUN
fsr-3845	274	29	.	.	PUNCT
fsr-3845	275	1	new	new	PROPN
fsr-3845	275	2	york	york	PROPN
fsr-3845	275	3	:	:	PUNCT
fsr-3845	275	4	cambridge	cambridge	PROPN
fsr-3845	275	5	university	university	PROPN
fsr-3845	275	6	press	press	NOUN
fsr-3845	275	7	.	.	PUNCT
fsr-3845	276	1	porter	porter	NOUN
fsr-3845	276	2	,	,	PUNCT
fsr-3845	276	3	g.	g.	PROPN
fsr-3845	276	4	,	,	PUNCT
fsr-3845	276	5	&	&	CCONJ
fsr-3845	276	6	trifts	trift	NOUN
fsr-3845	276	7	,	,	PUNCT
fsr-3845	276	8	j.	j.	PROPN
fsr-3845	276	9	(	(	PUNCT
fsr-3845	276	10	1998	1998	NUM
fsr-3845	276	11	)	)	PUNCT
fsr-3845	276	12	.	.	PUNCT
fsr-3845	277	1	performance	performance	NOUN
fsr-3845	277	2	persistence	persistence	NOUN
fsr-3845	277	3	of	of	ADP
fsr-3845	277	4	experienced	experienced	ADJ
fsr-3845	277	5	mutual	mutual	ADJ
fsr-3845	277	6	fund	fund	NOUN
fsr-3845	277	7	managers	manager	NOUN
fsr-3845	277	8	.	.	PUNCT
fsr-3845	278	1	finan	finan	PROPN
fsr-3845	278	2	cial	cial	PROPN
fsr-3845	278	3	services	services	PROPN
fsr-3845	278	4	review	review	PROPN
fsr-3845	278	5	,	,	PUNCT
fsr-3845	278	6	7(1	7(1	NUM
fsr-3845	278	7	)	)	PUNCT
fsr-3845	278	8	,	,	PUNCT
fsr-3845	278	9	57	57	NUM
fsr-3845	278	10	-	-	SYM
fsr-3845	278	11	-68	-68	NUM
fsr-3845	278	12	.	.	PUNCT