id	sid	tid	token	lemma	pos
fsr-3876	1	1	pii	pii	PROPN
fsr-3876	1	2	:	:	PUNCT
fsr-3876	1	3	s1057	s1057	NOUN
fsr-3876	1	4	-	-	PUNCT
fsr-3876	1	5	0810(99)00029	0810(99)00029	NOUN
fsr-3876	1	6	-	-	PUNCT
fsr-3876	1	7	3	3	NUM
fsr-3876	1	8	international	international	ADJ
fsr-3876	1	9	index	index	NOUN
fsr-3876	1	10	funds	fund	NOUN
fsr-3876	1	11	and	and	CCONJ
fsr-3876	1	12	the	the	DET
fsr-3876	1	13	investment	investment	NOUN
fsr-3876	1	14	portfolio	portfolio	NOUN
fsr-3876	1	15	scott	scott	PROPN
fsr-3876	1	16	aielloa	aielloa	PROPN
fsr-3876	1	17	,	,	PUNCT
fsr-3876	1	18	natalie	natalie	PROPN
fsr-3876	1	19	chieffeb	chieffeb	NOUN
fsr-3876	1	20	,	,	PUNCT
fsr-3876	1	21	*	*	PUNCT
fsr-3876	1	22	aliberty	aliberty	NOUN
fsr-3876	1	23	mutual	mutual	ADJ
fsr-3876	1	24	group	group	NOUN
fsr-3876	1	25	,	,	PUNCT
fsr-3876	1	26	boston	boston	PROPN
fsr-3876	1	27	,	,	PUNCT
fsr-3876	1	28	ma	ma	PROPN
fsr-3876	1	29	,	,	PUNCT
fsr-3876	1	30	usa	usa	PROPN
fsr-3876	1	31	bohio	bohio	PROPN
fsr-3876	1	32	university	university	PROPN
fsr-3876	1	33	,	,	PUNCT
fsr-3876	1	34	college	college	NOUN
fsr-3876	1	35	of	of	ADP
fsr-3876	1	36	business	business	NOUN
fsr-3876	1	37	,	,	PUNCT
fsr-3876	1	38	finance	finance	NOUN
fsr-3876	1	39	department	department	PROPN
fsr-3876	1	40	,	,	PUNCT
fsr-3876	1	41	athens	athens	PROPN
fsr-3876	1	42	,	,	PUNCT
fsr-3876	1	43	oh	oh	NOUN
fsr-3876	1	44	45701	45701	NUM
fsr-3876	1	45	,	,	PUNCT
fsr-3876	1	46	usa	usa	PROPN
fsr-3876	1	47	abstract	abstract	ADJ
fsr-3876	1	48	financial	financial	ADJ
fsr-3876	1	49	advisors	advisor	NOUN
fsr-3876	1	50	often	often	ADV
fsr-3876	1	51	recommend	recommend	VERB
fsr-3876	1	52	that	that	SCONJ
fsr-3876	1	53	investors	investor	NOUN
fsr-3876	1	54	diversify	diversify	VERB
fsr-3876	1	55	their	their	PRON
fsr-3876	1	56	investments	investment	NOUN
fsr-3876	1	57	internationally	internationally	ADV
fsr-3876	1	58	and	and	CCONJ
fsr-3876	1	59	also	also	ADV
fsr-3876	1	60	use	use	VERB
fsr-3876	1	61	mutual	mutual	ADJ
fsr-3876	1	62	funds	fund	NOUN
fsr-3876	1	63	with	with	ADP
fsr-3876	1	64	the	the	DET
fsr-3876	1	65	lowest	low	ADJ
fsr-3876	1	66	expenses	expense	NOUN
fsr-3876	1	67	.	.	PUNCT
fsr-3876	2	1	recently	recently	ADV
fsr-3876	2	2	it	it	PRON
fsr-3876	2	3	has	have	AUX
fsr-3876	2	4	been	be	AUX
fsr-3876	2	5	possible	possible	ADJ
fsr-3876	2	6	to	to	PART
fsr-3876	2	7	use	use	VERB
fsr-3876	2	8	both	both	PRON
fsr-3876	2	9	of	of	ADP
fsr-3876	2	10	these	these	DET
fsr-3876	2	11	strategies	strategy	NOUN
fsr-3876	2	12	by	by	ADP
fsr-3876	2	13	purchasing	purchase	VERB
fsr-3876	2	14	an	an	DET
fsr-3876	2	15	international	international	ADJ
fsr-3876	2	16	index	index	NOUN
fsr-3876	2	17	fund	fund	NOUN
fsr-3876	2	18	.	.	PUNCT
fsr-3876	3	1	this	this	DET
fsr-3876	3	2	study	study	NOUN
fsr-3876	3	3	considers	consider	VERB
fsr-3876	3	4	international	international	ADJ
fsr-3876	3	5	index	index	NOUN
fsr-3876	3	6	funds	fund	NOUN
fsr-3876	3	7	as	as	ADP
fsr-3876	3	8	a	a	DET
fsr-3876	3	9	means	means	NOUN
fsr-3876	3	10	of	of	ADP
fsr-3876	3	11	portfolio	portfolio	NOUN
fsr-3876	3	12	diversification	diversification	NOUN
fsr-3876	3	13	.	.	PUNCT
fsr-3876	4	1	performance	performance	NOUN
fsr-3876	4	2	is	be	AUX
fsr-3876	4	3	evaluated	evaluate	VERB
fsr-3876	4	4	using	use	VERB
fsr-3876	4	5	monthly	monthly	ADJ
fsr-3876	4	6	return	return	NOUN
fsr-3876	4	7	data	datum	NOUN
fsr-3876	4	8	on	on	ADP
fsr-3876	4	9	nine	nine	NUM
fsr-3876	4	10	international	international	ADJ
fsr-3876	4	11	indexes	index	NOUN
fsr-3876	4	12	from	from	ADP
fsr-3876	4	13	january	january	PROPN
fsr-3876	4	14	1989	1989	NUM
fsr-3876	4	15	through	through	ADP
fsr-3876	4	16	december	december	PROPN
fsr-3876	4	17	1997	1997	NUM
fsr-3876	4	18	.	.	PUNCT
fsr-3876	5	1	returns	return	NOUN
fsr-3876	5	2	are	be	AUX
fsr-3876	5	3	measured	measure	VERB
fsr-3876	5	4	against	against	ADP
fsr-3876	5	5	the	the	DET
fsr-3876	5	6	s	s	PROPN
fsr-3876	5	7	&	&	CCONJ
fsr-3876	5	8	p	p	PROPN
fsr-3876	5	9	500index	500index	PROPN
fsr-3876	5	10	returns	return	NOUN
fsr-3876	5	11	.	.	PUNCT
fsr-3876	6	1	the	the	DET
fsr-3876	6	2	results	result	NOUN
fsr-3876	6	3	of	of	ADP
fsr-3876	6	4	statistical	statistical	ADJ
fsr-3876	6	5	tests	test	NOUN
fsr-3876	6	6	suggest	suggest	VERB
fsr-3876	6	7	that	that	SCONJ
fsr-3876	6	8	international	international	ADJ
fsr-3876	6	9	index	index	NOUN
fsr-3876	6	10	investing	investing	NOUN
fsr-3876	6	11	does	do	AUX
fsr-3876	6	12	not	not	PART
fsr-3876	6	13	offer	offer	VERB
fsr-3876	6	14	superior	superior	ADJ
fsr-3876	6	15	returns	return	NOUN
fsr-3876	6	16	compared	compare	VERB
fsr-3876	6	17	to	to	ADP
fsr-3876	6	18	the	the	DET
fsr-3876	6	19	s	s	PROPN
fsr-3876	6	20	&	&	CCONJ
fsr-3876	6	21	p	p	PROPN
fsr-3876	6	22	500	500	NUM
fsr-3876	6	23	index	index	NOUN
fsr-3876	6	24	but	but	CCONJ
fsr-3876	6	25	diversification	diversification	NOUN
fsr-3876	6	26	benefits	benefit	NOUN
fsr-3876	6	27	do	do	AUX
fsr-3876	6	28	exist	exist	VERB
fsr-3876	6	29	.	.	PUNCT
fsr-3876	7	1	©	©	PROPN
fsr-3876	7	2	1999	1999	NUM
fsr-3876	7	3	elsevier	elsevier	PROPN
fsr-3876	7	4	science	science	PROPN
fsr-3876	7	5	inc	inc	PROPN
fsr-3876	7	6	.	.	PUNCT
fsr-3876	8	1	all	all	DET
fsr-3876	8	2	rights	right	NOUN
fsr-3876	8	3	reserved	reserve	VERB
fsr-3876	8	4	.	.	PUNCT
fsr-3876	9	1	jel	jel	PROPN
fsr-3876	9	2	classification	classification	NOUN
fsr-3876	9	3	:	:	PUNCT
fsr-3876	9	4	g110	g110	PROPN
fsr-3876	9	5	;	;	PUNCT
fsr-3876	9	6	g29	g29	NOUN
fsr-3876	9	7	keywords	keyword	NOUN
fsr-3876	9	8	:	:	PUNCT
fsr-3876	9	9	international	international	ADJ
fsr-3876	9	10	indexes	index	NOUN
fsr-3876	9	11	;	;	PUNCT
fsr-3876	9	12	individual	individual	ADJ
fsr-3876	9	13	investors	investor	NOUN
fsr-3876	9	14	;	;	PUNCT
fsr-3876	9	15	index	index	NOUN
fsr-3876	9	16	funds	fund	NOUN
fsr-3876	9	17	1	1	NUM
fsr-3876	9	18	.	.	PUNCT
fsr-3876	10	1	introduction	introduction	NOUN
fsr-3876	10	2	individual	individual	ADJ
fsr-3876	10	3	investors	investor	NOUN
fsr-3876	10	4	find	find	VERB
fsr-3876	10	5	many	many	ADJ
fsr-3876	10	6	pieces	piece	NOUN
fsr-3876	10	7	of	of	ADP
fsr-3876	10	8	advice	advice	NOUN
fsr-3876	10	9	directed	direct	VERB
fsr-3876	10	10	toward	toward	ADP
fsr-3876	10	11	them	they	PRON
fsr-3876	10	12	.	.	PUNCT
fsr-3876	11	1	some	some	PRON
fsr-3876	11	2	of	of	ADP
fsr-3876	11	3	this	this	DET
fsr-3876	11	4	advice	advice	NOUN
fsr-3876	11	5	recommends	recommend	VERB
fsr-3876	11	6	that	that	SCONJ
fsr-3876	11	7	they	they	PRON
fsr-3876	11	8	should	should	AUX
fsr-3876	11	9	diversify	diversify	VERB
fsr-3876	11	10	internationally	internationally	ADV
fsr-3876	11	11	,	,	PUNCT
fsr-3876	11	12	they	they	PRON
fsr-3876	11	13	should	should	AUX
fsr-3876	11	14	include	include	VERB
fsr-3876	11	15	high	high	ADJ
fsr-3876	11	16	-	-	PUNCT
fsr-3876	11	17	growth	growth	NOUN
fsr-3876	11	18	emerging	emerge	VERB
fsr-3876	11	19	market	market	NOUN
fsr-3876	11	20	stocks	stock	NOUN
fsr-3876	11	21	in	in	ADP
fsr-3876	11	22	their	their	PRON
fsr-3876	11	23	portfolios	portfolio	NOUN
fsr-3876	11	24	,	,	PUNCT
fsr-3876	11	25	and	and	CCONJ
fsr-3876	11	26	they	they	PRON
fsr-3876	11	27	should	should	AUX
fsr-3876	11	28	buy	buy	VERB
fsr-3876	11	29	low	low	ADJ
fsr-3876	11	30	-	-	PUNCT
fsr-3876	11	31	expense	expense	NOUN
fsr-3876	11	32	index	index	NOUN
fsr-3876	11	33	funds	fund	NOUN
fsr-3876	11	34	.	.	PUNCT
fsr-3876	12	1	in	in	ADP
fsr-3876	12	2	this	this	DET
fsr-3876	12	3	paper	paper	NOUN
fsr-3876	12	4	we	we	PRON
fsr-3876	12	5	review	review	VERB
fsr-3876	12	6	the	the	DET
fsr-3876	12	7	literature	literature	NOUN
fsr-3876	12	8	in	in	ADP
fsr-3876	12	9	these	these	DET
fsr-3876	12	10	three	three	NUM
fsr-3876	12	11	areas	area	NOUN
fsr-3876	12	12	.	.	PUNCT
fsr-3876	13	1	we	we	PRON
fsr-3876	13	2	then	then	ADV
fsr-3876	13	3	determine	determine	VERB
fsr-3876	13	4	empirically	empirically	ADV
fsr-3876	13	5	if	if	SCONJ
fsr-3876	13	6	international	international	ADJ
fsr-3876	13	7	index	index	NOUN
fsr-3876	13	8	investing	investing	NOUN
fsr-3876	13	9	can	can	AUX
fsr-3876	13	10	better	well	ADV
fsr-3876	13	11	diversify	diversify	VERB
fsr-3876	13	12	a	a	DET
fsr-3876	13	13	domestic	domestic	ADJ
fsr-3876	13	14	portfolio	portfolio	NOUN
fsr-3876	13	15	.	.	PUNCT
fsr-3876	14	1	the	the	DET
fsr-3876	14	2	results	result	NOUN
fsr-3876	14	3	of	of	ADP
fsr-3876	14	4	this	this	DET
fsr-3876	14	5	study	study	NOUN
fsr-3876	14	6	may	may	AUX
fsr-3876	14	7	help	help	VERB
fsr-3876	14	8	investors	investor	NOUN
fsr-3876	14	9	determine	determine	VERB
fsr-3876	14	10	if	if	SCONJ
fsr-3876	14	11	international	international	ADJ
fsr-3876	14	12	investing	investing	NOUN
fsr-3876	14	13	combined	combine	VERB
fsr-3876	14	14	with	with	ADP
fsr-3876	14	15	index	index	NOUN
fsr-3876	14	16	investing	investing	NOUN
fsr-3876	14	17	can	can	AUX
fsr-3876	14	18	improve	improve	VERB
fsr-3876	14	19	their	their	PRON
fsr-3876	14	20	portfolios	portfolio	NOUN
fsr-3876	14	21	.	.	PUNCT
fsr-3876	15	1	*	*	PUNCT
fsr-3876	15	2	corresponding	correspond	VERB
fsr-3876	15	3	author	author	NOUN
fsr-3876	15	4	.	.	PUNCT
fsr-3876	16	1	tel.:11	tel.:11	VERB
fsr-3876	16	2	-	-	PUNCT
fsr-3876	16	3	740	740	NUM
fsr-3876	16	4	-	-	PUNCT
fsr-3876	16	5	593	593	NUM
fsr-3876	16	6	-	-	PUNCT
fsr-3876	16	7	9320	9320	NUM
fsr-3876	16	8	;	;	PUNCT
fsr-3876	16	9	fax:11	fax:11	NOUN
fsr-3876	16	10	-	-	PUNCT
fsr-3876	16	11	740	740	NUM
fsr-3876	16	12	-	-	PUNCT
fsr-3876	16	13	593	593	NUM
fsr-3876	16	14	-	-	NUM
fsr-3876	16	15	9539	9539	NUM
fsr-3876	16	16	.	.	PUNCT
fsr-3876	17	1	e	e	X
fsr-3876	17	2	-	-	NOUN
fsr-3876	17	3	mail	mail	NOUN
fsr-3876	17	4	address:chieffe@ohio.edu	address:chieffe@ohio.edu	PROPN
fsr-3876	17	5	(	(	PUNCT
fsr-3876	17	6	n.	n.	NOUN
fsr-3876	17	7	chieffe	chieffe	PROPN
fsr-3876	17	8	)	)	PUNCT
fsr-3876	17	9	financial	financial	ADJ
fsr-3876	17	10	services	service	NOUN
fsr-3876	17	11	review	review	VERB
fsr-3876	17	12	8	8	NUM
fsr-3876	17	13	(	(	PUNCT
fsr-3876	17	14	1999	1999	NUM
fsr-3876	17	15	)	)	PUNCT
fsr-3876	18	1	27–35	27–35	NUM
fsr-3876	18	2	1057	1057	NUM
fsr-3876	18	3	-	-	SYM
fsr-3876	18	4	0810/99/$	0810/99/$	NUM
fsr-3876	18	5	–	–	PUNCT
fsr-3876	18	6	see	see	VERB
fsr-3876	18	7	front	front	ADJ
fsr-3876	18	8	matter	matter	NOUN
fsr-3876	18	9	©	©	PROPN
fsr-3876	18	10	1999	1999	NUM
fsr-3876	18	11	elsevier	elsevier	PROPN
fsr-3876	18	12	science	science	PROPN
fsr-3876	18	13	inc	inc	PROPN
fsr-3876	18	14	.	.	PUNCT
fsr-3876	19	1	all	all	DET
fsr-3876	19	2	rights	right	NOUN
fsr-3876	19	3	reserved	reserve	VERB
fsr-3876	19	4	.	.	PUNCT
fsr-3876	20	1	pii	pii	NOUN
fsr-3876	20	2	:	:	PUNCT
fsr-3876	20	3	s1057	s1057	NOUN
fsr-3876	20	4	-	-	PUNCT
fsr-3876	20	5	0810(99)00029	0810(99)00029	PRON
fsr-3876	20	6	-	-	PUNCT
fsr-3876	20	7	3	3	NUM
fsr-3876	20	8	investors	investor	NOUN
fsr-3876	20	9	have	have	VERB
fsr-3876	20	10	several	several	ADJ
fsr-3876	20	11	options	option	NOUN
fsr-3876	20	12	when	when	SCONJ
fsr-3876	20	13	choosing	choose	VERB
fsr-3876	20	14	international	international	ADJ
fsr-3876	20	15	equities	equity	NOUN
fsr-3876	20	16	.	.	PUNCT
fsr-3876	21	1	a	a	DET
fsr-3876	21	2	domestic	domestic	ADJ
fsr-3876	21	3	investor	investor	NOUN
fsr-3876	21	4	can	can	AUX
fsr-3876	21	5	invest	invest	VERB
fsr-3876	21	6	directly	directly	ADV
fsr-3876	21	7	in	in	ADP
fsr-3876	21	8	foreign	foreign	ADJ
fsr-3876	21	9	securities	security	NOUN
fsr-3876	21	10	that	that	PRON
fsr-3876	21	11	trade	trade	VERB
fsr-3876	21	12	on	on	ADP
fsr-3876	21	13	foreign	foreign	ADJ
fsr-3876	21	14	exchanges	exchange	NOUN
fsr-3876	21	15	.	.	PUNCT
fsr-3876	22	1	but	but	CCONJ
fsr-3876	22	2	,	,	PUNCT
fsr-3876	22	3	the	the	DET
fsr-3876	22	4	direct	direct	ADJ
fsr-3876	22	5	investor	investor	NOUN
fsr-3876	22	6	pays	pay	VERB
fsr-3876	22	7	higher	high	ADJ
fsr-3876	22	8	fees	fee	NOUN
fsr-3876	22	9	,	,	PUNCT
fsr-3876	22	10	may	may	AUX
fsr-3876	22	11	be	be	AUX
fsr-3876	22	12	handicapped	handicap	VERB
fsr-3876	22	13	by	by	ADP
fsr-3876	22	14	a	a	DET
fsr-3876	22	15	lack	lack	NOUN
fsr-3876	22	16	of	of	ADP
fsr-3876	22	17	information	information	NOUN
fsr-3876	22	18	and	and	CCONJ
fsr-3876	22	19	faces	face	VERB
fsr-3876	22	20	additional	additional	ADJ
fsr-3876	22	21	currency	currency	NOUN
fsr-3876	22	22	and	and	CCONJ
fsr-3876	22	23	political	political	ADJ
fsr-3876	22	24	risks	risk	NOUN
fsr-3876	22	25	.	.	PUNCT
fsr-3876	23	1	thus	thus	ADV
fsr-3876	23	2	,	,	PUNCT
fsr-3876	23	3	other	other	ADJ
fsr-3876	23	4	options	option	NOUN
fsr-3876	23	5	may	may	AUX
fsr-3876	23	6	be	be	AUX
fsr-3876	23	7	indicated	indicate	VERB
fsr-3876	23	8	.	.	PUNCT
fsr-3876	24	1	one	one	NUM
fsr-3876	24	2	such	such	ADJ
fsr-3876	24	3	option	option	NOUN
fsr-3876	24	4	is	be	AUX
fsr-3876	24	5	the	the	DET
fsr-3876	24	6	purchase	purchase	NOUN
fsr-3876	24	7	of	of	ADP
fsr-3876	24	8	euroequities	euroequitie	NOUN
fsr-3876	24	9	,	,	PUNCT
fsr-3876	24	10	securities	security	NOUN
fsr-3876	24	11	that	that	PRON
fsr-3876	24	12	are	be	AUX
fsr-3876	24	13	listed	list	VERB
fsr-3876	24	14	on	on	ADP
fsr-3876	24	15	any	any	PRON
fsr-3876	24	16	of	of	ADP
fsr-3876	24	17	the	the	DET
fsr-3876	24	18	foreign	foreign	ADJ
fsr-3876	24	19	stock	stock	NOUN
fsr-3876	24	20	exchanges	exchange	NOUN
fsr-3876	24	21	and	and	CCONJ
fsr-3876	24	22	also	also	ADV
fsr-3876	24	23	on	on	ADP
fsr-3876	24	24	an	an	DET
fsr-3876	24	25	american	american	ADJ
fsr-3876	24	26	exchange	exchange	NOUN
fsr-3876	24	27	.	.	PUNCT
fsr-3876	25	1	these	these	DET
fsr-3876	25	2	dual	dual	ADJ
fsr-3876	25	3	-	-	PUNCT
fsr-3876	25	4	listings	listing	NOUN
fsr-3876	25	5	give	give	VERB
fsr-3876	25	6	americans	americans	PROPN
fsr-3876	25	7	the	the	DET
fsr-3876	25	8	chance	chance	NOUN
fsr-3876	25	9	to	to	PART
fsr-3876	25	10	take	take	VERB
fsr-3876	25	11	advantage	advantage	NOUN
fsr-3876	25	12	of	of	ADP
fsr-3876	25	13	international	international	ADJ
fsr-3876	25	14	investing	investing	NOUN
fsr-3876	25	15	while	while	SCONJ
fsr-3876	25	16	avoiding	avoid	VERB
fsr-3876	25	17	the	the	DET
fsr-3876	25	18	disadvantages	disadvantage	NOUN
fsr-3876	25	19	of	of	ADP
fsr-3876	25	20	direct	direct	ADJ
fsr-3876	25	21	investment	investment	NOUN
fsr-3876	25	22	.	.	PUNCT
fsr-3876	26	1	multinational	multinational	ADJ
fsr-3876	26	2	corporations	corporation	NOUN
fsr-3876	26	3	(	(	PUNCT
fsr-3876	26	4	mncs	mncs	PROPN
fsr-3876	26	5	)	)	PUNCT
fsr-3876	26	6	that	that	PRON
fsr-3876	26	7	are	be	AUX
fsr-3876	26	8	based	base	VERB
fsr-3876	26	9	in	in	ADP
fsr-3876	26	10	the	the	DET
fsr-3876	26	11	united	united	PROPN
fsr-3876	26	12	states	states	PROPN
fsr-3876	26	13	have	have	VERB
fsr-3876	26	14	significant	significant	ADJ
fsr-3876	26	15	exposure	exposure	NOUN
fsr-3876	26	16	in	in	ADP
fsr-3876	26	17	foreign	foreign	ADJ
fsr-3876	26	18	countries	country	NOUN
fsr-3876	26	19	and	and	CCONJ
fsr-3876	26	20	offer	offer	VERB
fsr-3876	26	21	a	a	DET
fsr-3876	26	22	second	second	ADJ
fsr-3876	26	23	option	option	NOUN
fsr-3876	26	24	.	.	PUNCT
fsr-3876	27	1	a	a	DET
fsr-3876	27	2	portfolio	portfolio	NOUN
fsr-3876	27	3	containing	contain	VERB
fsr-3876	27	4	mncs	mncs	PROPN
fsr-3876	27	5	gains	gain	VERB
fsr-3876	27	6	the	the	DET
fsr-3876	27	7	increased	increase	VERB
fsr-3876	27	8	diversity	diversity	NOUN
fsr-3876	27	9	of	of	ADP
fsr-3876	27	10	foreign	foreign	ADJ
fsr-3876	27	11	investment	investment	NOUN
fsr-3876	27	12	,	,	PUNCT
fsr-3876	27	13	but	but	CCONJ
fsr-3876	27	14	at	at	ADP
fsr-3876	27	15	the	the	DET
fsr-3876	27	16	lower	low	ADJ
fsr-3876	27	17	costs	cost	NOUN
fsr-3876	27	18	of	of	ADP
fsr-3876	27	19	domestic	domestic	ADJ
fsr-3876	27	20	market	market	NOUN
fsr-3876	27	21	investment	investment	NOUN
fsr-3876	27	22	.	.	PUNCT
fsr-3876	28	1	a	a	DET
fsr-3876	28	2	third	third	ADJ
fsr-3876	28	3	option	option	NOUN
fsr-3876	28	4	is	be	AUX
fsr-3876	28	5	american	american	ADJ
fsr-3876	28	6	depository	depository	NOUN
fsr-3876	28	7	receipts	receipt	NOUN
fsr-3876	28	8	(	(	PUNCT
fsr-3876	28	9	adrs	adr	NOUN
fsr-3876	28	10	)	)	PUNCT
fsr-3876	28	11	.	.	PUNCT
fsr-3876	29	1	these	these	DET
fsr-3876	29	2	receipts	receipt	NOUN
fsr-3876	29	3	for	for	ADP
fsr-3876	29	4	shares	share	NOUN
fsr-3876	29	5	of	of	ADP
fsr-3876	29	6	foreign	foreign	ADJ
fsr-3876	29	7	companies	company	NOUN
fsr-3876	29	8	held	hold	VERB
fsr-3876	29	9	by	by	ADP
fsr-3876	29	10	u.s	u.s	PROPN
fsr-3876	29	11	.	.	PROPN
fsr-3876	29	12	banks	bank	NOUN
fsr-3876	29	13	offer	offer	VERB
fsr-3876	29	14	the	the	DET
fsr-3876	29	15	american	american	PROPN
fsr-3876	29	16	investor	investor	PROPN
fsr-3876	29	17	international	international	ADJ
fsr-3876	29	18	diversification	diversification	NOUN
fsr-3876	29	19	.	.	PUNCT
fsr-3876	30	1	the	the	DET
fsr-3876	30	2	bank	bank	NOUN
fsr-3876	30	3	converts	convert	VERB
fsr-3876	30	4	the	the	DET
fsr-3876	30	5	dividends	dividend	NOUN
fsr-3876	30	6	from	from	ADP
fsr-3876	30	7	the	the	DET
fsr-3876	30	8	foreign	foreign	ADJ
fsr-3876	30	9	currency	currency	NOUN
fsr-3876	30	10	and	and	CCONJ
fsr-3876	30	11	pays	pay	VERB
fsr-3876	30	12	them	they	PRON
fsr-3876	30	13	in	in	ADP
fsr-3876	30	14	dollars	dollar	NOUN
fsr-3876	30	15	to	to	ADP
fsr-3876	30	16	the	the	DET
fsr-3876	30	17	shareholder	shareholder	NOUN
fsr-3876	30	18	.	.	PUNCT
fsr-3876	31	1	adrs	adr	NOUN
fsr-3876	31	2	are	be	AUX
fsr-3876	31	3	popular	popular	ADJ
fsr-3876	31	4	because	because	SCONJ
fsr-3876	31	5	investors	investor	NOUN
fsr-3876	31	6	do	do	AUX
fsr-3876	31	7	not	not	PART
fsr-3876	31	8	have	have	VERB
fsr-3876	31	9	to	to	PART
fsr-3876	31	10	leave	leave	VERB
fsr-3876	31	11	the	the	DET
fsr-3876	31	12	domestic	domestic	ADJ
fsr-3876	31	13	market	market	NOUN
fsr-3876	31	14	to	to	PART
fsr-3876	31	15	invest	invest	VERB
fsr-3876	31	16	in	in	ADP
fsr-3876	31	17	foreign	foreign	ADJ
fsr-3876	31	18	firms	firm	NOUN
fsr-3876	31	19	.	.	PUNCT
fsr-3876	32	1	a	a	DET
fsr-3876	32	2	fourth	fourth	ADJ
fsr-3876	32	3	,	,	PUNCT
fsr-3876	32	4	and	and	CCONJ
fsr-3876	32	5	often	often	ADV
fsr-3876	32	6	preferred	prefer	VERB
fsr-3876	32	7	,	,	PUNCT
fsr-3876	32	8	option	option	NOUN
fsr-3876	32	9	for	for	ADP
fsr-3876	32	10	international	international	ADJ
fsr-3876	32	11	investment	investment	NOUN
fsr-3876	32	12	is	be	AUX
fsr-3876	32	13	the	the	DET
fsr-3876	32	14	purchase	purchase	NOUN
fsr-3876	32	15	of	of	ADP
fsr-3876	32	16	shares	share	NOUN
fsr-3876	32	17	in	in	ADP
fsr-3876	32	18	an	an	DET
fsr-3876	32	19	internationally	internationally	ADV
fsr-3876	32	20	diversified	diversify	VERB
fsr-3876	32	21	mutual	mutual	ADJ
fsr-3876	32	22	fund	fund	NOUN
fsr-3876	32	23	or	or	CCONJ
fsr-3876	32	24	closed	closed	ADJ
fsr-3876	32	25	-	-	PUNCT
fsr-3876	32	26	end	end	NOUN
fsr-3876	32	27	fund	fund	NOUN
fsr-3876	32	28	.	.	PUNCT
fsr-3876	33	1	of	of	ADP
fsr-3876	33	2	these	these	DET
fsr-3876	33	3	funds	fund	NOUN
fsr-3876	33	4	,	,	PUNCT
fsr-3876	33	5	international	international	ADJ
fsr-3876	33	6	index	index	NOUN
fsr-3876	33	7	mutual	mutual	ADJ
fsr-3876	33	8	funds	fund	NOUN
fsr-3876	33	9	are	be	AUX
fsr-3876	33	10	relatively	relatively	ADV
fsr-3876	33	11	new	new	ADJ
fsr-3876	33	12	,	,	PUNCT
fsr-3876	33	13	and	and	CCONJ
fsr-3876	33	14	have	have	AUX
fsr-3876	33	15	not	not	PART
fsr-3876	33	16	gone	go	VERB
fsr-3876	33	17	through	through	ADP
fsr-3876	33	18	the	the	DET
fsr-3876	33	19	same	same	ADJ
fsr-3876	33	20	tests	test	NOUN
fsr-3876	33	21	as	as	ADP
fsr-3876	33	22	domestic	domestic	ADJ
fsr-3876	33	23	funds	fund	NOUN
fsr-3876	33	24	.	.	PUNCT
fsr-3876	34	1	although	although	SCONJ
fsr-3876	34	2	many	many	ADJ
fsr-3876	34	3	pension	pension	NOUN
fsr-3876	34	4	funds	fund	NOUN
fsr-3876	34	5	and	and	CCONJ
fsr-3876	34	6	institutional	institutional	ADJ
fsr-3876	34	7	investors	investor	NOUN
fsr-3876	34	8	already	already	ADV
fsr-3876	34	9	invest	invest	VERB
fsr-3876	34	10	in	in	ADP
fsr-3876	34	11	international	international	ADJ
fsr-3876	34	12	mutual	mutual	ADJ
fsr-3876	34	13	funds	fund	NOUN
fsr-3876	34	14	,	,	PUNCT
fsr-3876	34	15	only	only	ADV
fsr-3876	34	16	a	a	DET
fsr-3876	34	17	few	few	ADJ
fsr-3876	34	18	studies	study	NOUN
fsr-3876	34	19	have	have	AUX
fsr-3876	34	20	examined	examine	VERB
fsr-3876	34	21	their	their	PRON
fsr-3876	34	22	performance	performance	NOUN
fsr-3876	34	23	.	.	PUNCT
fsr-3876	35	1	it	it	PRON
fsr-3876	35	2	seems	seem	VERB
fsr-3876	35	3	reasonable	reasonable	ADJ
fsr-3876	35	4	that	that	SCONJ
fsr-3876	35	5	if	if	SCONJ
fsr-3876	35	6	there	there	PRON
fsr-3876	35	7	are	be	VERB
fsr-3876	35	8	benefits	benefit	NOUN
fsr-3876	35	9	from	from	ADP
fsr-3876	35	10	both	both	PRON
fsr-3876	35	11	international	international	ADJ
fsr-3876	35	12	investing	investing	NOUN
fsr-3876	35	13	and	and	CCONJ
fsr-3876	35	14	domestic	domestic	ADJ
fsr-3876	35	15	index	index	NOUN
fsr-3876	35	16	investing	investing	NOUN
fsr-3876	35	17	,	,	PUNCT
fsr-3876	35	18	there	there	PRON
fsr-3876	35	19	may	may	AUX
fsr-3876	35	20	be	be	AUX
fsr-3876	35	21	benefits	benefit	NOUN
fsr-3876	35	22	from	from	ADP
fsr-3876	35	23	international	international	ADJ
fsr-3876	35	24	index	index	NOUN
fsr-3876	35	25	investing	investing	NOUN
fsr-3876	35	26	.	.	PUNCT
fsr-3876	36	1	the	the	DET
fsr-3876	36	2	next	next	ADJ
fsr-3876	36	3	section	section	NOUN
fsr-3876	36	4	reviews	review	VERB
fsr-3876	36	5	the	the	DET
fsr-3876	36	6	relevant	relevant	ADJ
fsr-3876	36	7	literature	literature	NOUN
fsr-3876	36	8	in	in	ADP
fsr-3876	36	9	this	this	DET
fsr-3876	36	10	area	area	NOUN
fsr-3876	36	11	.	.	PUNCT
fsr-3876	37	1	a	a	DET
fsr-3876	37	2	description	description	NOUN
fsr-3876	37	3	of	of	ADP
fsr-3876	37	4	the	the	DET
fsr-3876	37	5	research	research	NOUN
fsr-3876	37	6	design	design	NOUN
fsr-3876	37	7	and	and	CCONJ
fsr-3876	37	8	data	datum	NOUN
fsr-3876	37	9	follows	follow	VERB
fsr-3876	37	10	in	in	ADP
fsr-3876	37	11	the	the	DET
fsr-3876	37	12	third	third	ADJ
fsr-3876	37	13	section	section	NOUN
fsr-3876	37	14	.	.	PUNCT
fsr-3876	38	1	the	the	DET
fsr-3876	38	2	fourth	fourth	ADJ
fsr-3876	38	3	section	section	NOUN
fsr-3876	38	4	contains	contain	VERB
fsr-3876	38	5	the	the	DET
fsr-3876	38	6	empirical	empirical	ADJ
fsr-3876	38	7	analysis	analysis	NOUN
fsr-3876	38	8	.	.	PUNCT
fsr-3876	39	1	the	the	DET
fsr-3876	39	2	last	last	ADJ
fsr-3876	39	3	section	section	NOUN
fsr-3876	39	4	offers	offer	VERB
fsr-3876	39	5	the	the	DET
fsr-3876	39	6	applications	application	NOUN
fsr-3876	39	7	and	and	CCONJ
fsr-3876	39	8	conclusions	conclusion	NOUN
fsr-3876	39	9	.	.	PUNCT
fsr-3876	40	1	2	2	X
fsr-3876	40	2	.	.	NUM
fsr-3876	40	3	effects	effect	NOUN
fsr-3876	40	4	of	of	ADP
fsr-3876	40	5	international	international	ADJ
fsr-3876	40	6	diversification	diversification	NOUN
fsr-3876	40	7	and	and	CCONJ
fsr-3876	40	8	index	index	NOUN
fsr-3876	40	9	investing	invest	VERB
fsr-3876	40	10	2.1	2.1	NUM
fsr-3876	40	11	.	.	PUNCT
fsr-3876	41	1	international	international	ADJ
fsr-3876	41	2	investing	investing	NOUN
fsr-3876	41	3	hunter	hunter	NOUN
fsr-3876	41	4	and	and	CCONJ
fsr-3876	41	5	coggin	coggin	NOUN
fsr-3876	41	6	(	(	PUNCT
fsr-3876	41	7	1990	1990	NUM
fsr-3876	41	8	)	)	PUNCT
fsr-3876	41	9	show	show	VERB
fsr-3876	41	10	that	that	SCONJ
fsr-3876	41	11	international	international	ADJ
fsr-3876	41	12	diversification	diversification	NOUN
fsr-3876	41	13	can	can	AUX
fsr-3876	41	14	reduce	reduce	VERB
fsr-3876	41	15	investment	investment	NOUN
fsr-3876	41	16	risk	risk	NOUN
fsr-3876	41	17	to	to	ADP
fsr-3876	41	18	about	about	ADV
fsr-3876	41	19	56	56	NUM
fsr-3876	41	20	%	%	NOUN
fsr-3876	41	21	of	of	ADP
fsr-3876	41	22	the	the	DET
fsr-3876	41	23	level	level	NOUN
fsr-3876	41	24	that	that	PRON
fsr-3876	41	25	can	can	AUX
fsr-3876	41	26	be	be	AUX
fsr-3876	41	27	achieved	achieve	VERB
fsr-3876	41	28	with	with	ADP
fsr-3876	41	29	national	national	ADJ
fsr-3876	41	30	diversification	diversification	NOUN
fsr-3876	41	31	.	.	PUNCT
fsr-3876	42	1	russell	russell	PROPN
fsr-3876	42	2	(	(	PUNCT
fsr-3876	42	3	1998	1998	NUM
fsr-3876	42	4	)	)	PUNCT
fsr-3876	42	5	considers	consider	VERB
fsr-3876	42	6	the	the	DET
fsr-3876	42	7	options	option	NOUN
fsr-3876	42	8	that	that	PRON
fsr-3876	42	9	investors	investor	NOUN
fsr-3876	42	10	have	have	VERB
fsr-3876	42	11	for	for	ADP
fsr-3876	42	12	international	international	ADJ
fsr-3876	42	13	investing	investing	NOUN
fsr-3876	42	14	.	.	PUNCT
fsr-3876	43	1	he	he	PRON
fsr-3876	43	2	tests	test	VERB
fsr-3876	43	3	whether	whether	SCONJ
fsr-3876	43	4	u.s	u.s	PROPN
fsr-3876	43	5	.	.	PROPN
fsr-3876	43	6	exchange	exchange	NOUN
fsr-3876	43	7	-	-	PUNCT
fsr-3876	43	8	listed	list	VERB
fsr-3876	43	9	securities	security	NOUN
fsr-3876	43	10	such	such	ADJ
fsr-3876	43	11	as	as	ADP
fsr-3876	43	12	adrs	adr	NOUN
fsr-3876	43	13	,	,	PUNCT
fsr-3876	43	14	mncs	mncs	PROPN
fsr-3876	43	15	,	,	PUNCT
fsr-3876	43	16	and	and	CCONJ
fsr-3876	43	17	closed	closed	ADJ
fsr-3876	43	18	-	-	PUNCT
fsr-3876	43	19	end	end	NOUN
fsr-3876	43	20	country	country	NOUN
fsr-3876	43	21	funds	fund	NOUN
fsr-3876	43	22	behave	behave	VERB
fsr-3876	43	23	more	more	ADJ
fsr-3876	43	24	like	like	ADP
fsr-3876	43	25	the	the	DET
fsr-3876	43	26	new	new	PROPN
fsr-3876	43	27	york	york	PROPN
fsr-3876	43	28	composite	composite	ADJ
fsr-3876	43	29	index	index	NOUN
fsr-3876	43	30	than	than	ADP
fsr-3876	43	31	the	the	DET
fsr-3876	43	32	market	market	NOUN
fsr-3876	43	33	they	they	PRON
fsr-3876	43	34	represent	represent	VERB
fsr-3876	43	35	.	.	PUNCT
fsr-3876	44	1	his	his	PRON
fsr-3876	44	2	study	study	NOUN
fsr-3876	44	3	suggests	suggest	VERB
fsr-3876	44	4	that	that	SCONJ
fsr-3876	44	5	these	these	DET
fsr-3876	44	6	securities	security	NOUN
fsr-3876	44	7	do	do	AUX
fsr-3876	44	8	not	not	PART
fsr-3876	44	9	provide	provide	VERB
fsr-3876	44	10	diversification	diversification	NOUN
fsr-3876	44	11	benefits	benefit	NOUN
fsr-3876	44	12	for	for	ADP
fsr-3876	44	13	the	the	DET
fsr-3876	44	14	u.s	u.s	PROPN
fsr-3876	44	15	.	.	PROPN
fsr-3876	44	16	investor	investor	NOUN
fsr-3876	44	17	.	.	PUNCT
fsr-3876	45	1	cumby	cumby	PROPN
fsr-3876	45	2	and	and	CCONJ
fsr-3876	45	3	glen	glen	PROPN
fsr-3876	45	4	(	(	PUNCT
fsr-3876	45	5	1990	1990	NUM
fsr-3876	45	6	)	)	PUNCT
fsr-3876	45	7	evaluate	evaluate	VERB
fsr-3876	45	8	the	the	DET
fsr-3876	45	9	performance	performance	NOUN
fsr-3876	45	10	of	of	ADP
fsr-3876	45	11	international	international	ADJ
fsr-3876	45	12	mutual	mutual	ADJ
fsr-3876	45	13	funds	fund	NOUN
fsr-3876	45	14	to	to	PART
fsr-3876	45	15	determine	determine	VERB
fsr-3876	45	16	whether	whether	SCONJ
fsr-3876	45	17	the	the	DET
fsr-3876	45	18	managers	manager	NOUN
fsr-3876	45	19	are	be	AUX
fsr-3876	45	20	responsible	responsible	ADJ
fsr-3876	45	21	for	for	ADP
fsr-3876	45	22	above	above	ADP
fsr-3876	45	23	average	average	ADJ
fsr-3876	45	24	returns	return	NOUN
fsr-3876	45	25	or	or	CCONJ
fsr-3876	45	26	if	if	SCONJ
fsr-3876	45	27	the	the	DET
fsr-3876	45	28	returns	return	NOUN
fsr-3876	45	29	are	be	AUX
fsr-3876	45	30	simply	simply	ADV
fsr-3876	45	31	the	the	DET
fsr-3876	45	32	result	result	NOUN
fsr-3876	45	33	of	of	ADP
fsr-3876	45	34	international	international	ADJ
fsr-3876	45	35	diversification	diversification	NOUN
fsr-3876	45	36	.	.	PUNCT
fsr-3876	46	1	they	they	PRON
fsr-3876	46	2	find	find	VERB
fsr-3876	46	3	that	that	SCONJ
fsr-3876	46	4	these	these	DET
fsr-3876	46	5	internationally	internationally	ADV
fsr-3876	46	6	diversified	diversify	VERB
fsr-3876	46	7	mutual	mutual	ADJ
fsr-3876	46	8	funds	fund	NOUN
fsr-3876	46	9	have	have	VERB
fsr-3876	46	10	superior	superior	ADJ
fsr-3876	46	11	performance	performance	NOUN
fsr-3876	46	12	when	when	SCONJ
fsr-3876	46	13	compared	compare	VERB
fsr-3876	46	14	to	to	ADP
fsr-3876	46	15	the	the	DET
fsr-3876	46	16	u.s	u.s	PROPN
fsr-3876	46	17	.	.	PROPN
fsr-3876	46	18	stock	stock	NOUN
fsr-3876	46	19	market	market	NOUN
fsr-3876	46	20	.	.	PUNCT
fsr-3876	47	1	the	the	DET
fsr-3876	47	2	authors	author	NOUN
fsr-3876	47	3	attribute	attribute	VERB
fsr-3876	47	4	this	this	PRON
fsr-3876	47	5	solely	solely	ADV
fsr-3876	47	6	to	to	ADP
fsr-3876	47	7	the	the	DET
fsr-3876	47	8	benefits	benefit	NOUN
fsr-3876	47	9	of	of	ADP
fsr-3876	47	10	international	international	ADJ
fsr-3876	47	11	diversification	diversification	NOUN
fsr-3876	47	12	,	,	PUNCT
fsr-3876	47	13	rather	rather	ADV
fsr-3876	47	14	28	28	NUM
fsr-3876	47	15	s.	s.	PROPN
fsr-3876	47	16	aiello	aiello	PROPN
fsr-3876	47	17	,	,	PUNCT
fsr-3876	47	18	n.	n.	PROPN
fsr-3876	47	19	chieffe	chieffe	ADJ
fsr-3876	47	20	/	/	SYM
fsr-3876	47	21	financial	financial	ADJ
fsr-3876	47	22	services	service	NOUN
fsr-3876	47	23	review	review	VERB
fsr-3876	47	24	8	8	NUM
fsr-3876	47	25	(	(	PUNCT
fsr-3876	47	26	1999	1999	NUM
fsr-3876	47	27	)	)	PUNCT
fsr-3876	47	28	27–35	27–35	NUM
fsr-3876	47	29	than	than	ADP
fsr-3876	47	30	to	to	ADP
fsr-3876	47	31	the	the	DET
fsr-3876	47	32	performance	performance	NOUN
fsr-3876	47	33	of	of	ADP
fsr-3876	47	34	the	the	DET
fsr-3876	47	35	active	active	ADJ
fsr-3876	47	36	managers	manager	NOUN
fsr-3876	47	37	.	.	PUNCT
fsr-3876	48	1	after	after	ADP
fsr-3876	48	2	testing	test	VERB
fsr-3876	48	3	these	these	DET
fsr-3876	48	4	funds	fund	NOUN
fsr-3876	48	5	against	against	ADP
fsr-3876	48	6	an	an	DET
fsr-3876	48	7	international	international	ADJ
fsr-3876	48	8	index	index	NOUN
fsr-3876	48	9	,	,	PUNCT
fsr-3876	48	10	cumby	cumby	VERB
fsr-3876	48	11	and	and	CCONJ
fsr-3876	48	12	glen	glen	PROPN
fsr-3876	48	13	conclude	conclude	VERB
fsr-3876	48	14	that	that	SCONJ
fsr-3876	48	15	there	there	PRON
fsr-3876	48	16	is	be	VERB
fsr-3876	48	17	“	"	PUNCT
fsr-3876	48	18	no	no	DET
fsr-3876	48	19	evidence	evidence	NOUN
fsr-3876	48	20	that	that	SCONJ
fsr-3876	48	21	the	the	DET
fsr-3876	48	22	funds	fund	NOUN
fsr-3876	48	23	,	,	PUNCT
fsr-3876	48	24	either	either	CCONJ
fsr-3876	48	25	individually	individually	ADV
fsr-3876	48	26	or	or	CCONJ
fsr-3876	48	27	as	as	ADP
fsr-3876	48	28	a	a	DET
fsr-3876	48	29	whole	whole	NOUN
fsr-3876	48	30	,	,	PUNCT
fsr-3876	48	31	provide	provide	VERB
fsr-3876	48	32	investors	investor	NOUN
fsr-3876	48	33	with	with	ADP
fsr-3876	48	34	performance	performance	NOUN
fsr-3876	48	35	that	that	PRON
fsr-3876	48	36	surpasses	surpass	VERB
fsr-3876	48	37	that	that	PRON
fsr-3876	48	38	of	of	ADP
fsr-3876	48	39	a	a	DET
fsr-3876	48	40	broad	broad	ADJ
fsr-3876	48	41	,	,	PUNCT
fsr-3876	48	42	international	international	ADJ
fsr-3876	48	43	equity	equity	NOUN
fsr-3876	48	44	index	index	NOUN
fsr-3876	48	45	over	over	ADP
fsr-3876	48	46	this	this	DET
fsr-3876	48	47	same	same	ADJ
fsr-3876	48	48	period	period	NOUN
fsr-3876	48	49	”	"	PUNCT
fsr-3876	48	50	.	.	PUNCT
fsr-3876	49	1	they	they	PRON
fsr-3876	49	2	also	also	ADV
fsr-3876	49	3	find	find	VERB
fsr-3876	49	4	that	that	SCONJ
fsr-3876	49	5	the	the	DET
fsr-3876	49	6	funds	fund	NOUN
fsr-3876	49	7	systematically	systematically	ADV
fsr-3876	49	8	under	under	AUX
fsr-3876	49	9	-	-	PUNCT
fsr-3876	49	10	perform	perform	VERB
fsr-3876	49	11	the	the	DET
fsr-3876	49	12	indexes	index	NOUN
fsr-3876	49	13	during	during	ADP
fsr-3876	49	14	the	the	DET
fsr-3876	49	15	october	october	PROPN
fsr-3876	49	16	1987	1987	NUM
fsr-3876	49	17	stock	stock	NOUN
fsr-3876	49	18	market	market	NOUN
fsr-3876	49	19	crash	crash	NOUN
fsr-3876	49	20	.	.	PUNCT
fsr-3876	50	1	though	though	SCONJ
fsr-3876	50	2	their	their	PRON
fsr-3876	50	3	proponents	proponent	NOUN
fsr-3876	50	4	often	often	ADV
fsr-3876	50	5	argue	argue	VERB
fsr-3876	50	6	that	that	SCONJ
fsr-3876	50	7	active	active	ADJ
fsr-3876	50	8	managers	manager	NOUN
fsr-3876	50	9	are	be	AUX
fsr-3876	50	10	able	able	ADJ
fsr-3876	50	11	to	to	PART
fsr-3876	50	12	avoid	avoid	VERB
fsr-3876	50	13	such	such	ADJ
fsr-3876	50	14	crashes	crash	NOUN
fsr-3876	50	15	by	by	ADP
fsr-3876	50	16	moving	move	VERB
fsr-3876	50	17	cash	cash	NOUN
fsr-3876	50	18	in	in	ADP
fsr-3876	50	19	and	and	CCONJ
fsr-3876	50	20	out	out	ADP
fsr-3876	50	21	of	of	ADP
fsr-3876	50	22	securities	security	NOUN
fsr-3876	50	23	,	,	PUNCT
fsr-3876	50	24	these	these	DET
fsr-3876	50	25	findings	finding	NOUN
fsr-3876	50	26	suggest	suggest	VERB
fsr-3876	50	27	those	those	DET
fsr-3876	50	28	active	active	ADJ
fsr-3876	50	29	managers	manager	NOUN
fsr-3876	50	30	only	only	ADV
fsr-3876	50	31	magnify	magnify	VERB
fsr-3876	50	32	the	the	DET
fsr-3876	50	33	losses	loss	NOUN
fsr-3876	50	34	.	.	PUNCT
fsr-3876	51	1	eun	eun	PROPN
fsr-3876	51	2	,	,	PUNCT
fsr-3876	51	3	kolodny	kolodny	PROPN
fsr-3876	51	4	,	,	PUNCT
fsr-3876	51	5	and	and	CCONJ
fsr-3876	51	6	resnick	resnick	PROPN
fsr-3876	51	7	(	(	PUNCT
fsr-3876	51	8	1991	1991	NUM
fsr-3876	51	9	)	)	PUNCT
fsr-3876	51	10	test	test	NOUN
fsr-3876	51	11	u.s.-based	u.s.-base	VERB
fsr-3876	51	12	international	international	PROPN
fsr-3876	51	13	fund	fund	NOUN
fsr-3876	51	14	performance	performance	NOUN
fsr-3876	51	15	in	in	ADP
fsr-3876	51	16	terms	term	NOUN
fsr-3876	51	17	of	of	ADP
fsr-3876	51	18	mean	mean	ADJ
fsr-3876	51	19	-	-	PUNCT
fsr-3876	51	20	variance	variance	NOUN
fsr-3876	51	21	efficiency	efficiency	NOUN
fsr-3876	51	22	.	.	PUNCT
fsr-3876	52	1	they	they	PRON
fsr-3876	52	2	evaluate	evaluate	VERB
fsr-3876	52	3	the	the	DET
fsr-3876	52	4	funds	fund	NOUN
fsr-3876	52	5	using	use	VERB
fsr-3876	52	6	the	the	DET
fsr-3876	52	7	jensen	jensen	PROPN
fsr-3876	52	8	(	(	PUNCT
fsr-3876	52	9	1968	1968	NUM
fsr-3876	52	10	)	)	PUNCT
fsr-3876	52	11	,	,	PUNCT
fsr-3876	52	12	sharpe	sharpe	NOUN
fsr-3876	52	13	(	(	PUNCT
fsr-3876	52	14	1966	1966	NUM
fsr-3876	52	15	)	)	PUNCT
fsr-3876	52	16	,	,	PUNCT
fsr-3876	52	17	and	and	CCONJ
fsr-3876	52	18	treynor	treynor	NOUN
fsr-3876	52	19	(	(	PUNCT
fsr-3876	52	20	1965	1965	NUM
fsr-3876	52	21	)	)	PUNCT
fsr-3876	52	22	measures	measure	NOUN
fsr-3876	52	23	and	and	CCONJ
fsr-3876	52	24	find	find	VERB
fsr-3876	52	25	that	that	SCONJ
fsr-3876	52	26	the	the	DET
fsr-3876	52	27	funds	fund	NOUN
fsr-3876	52	28	provide	provide	VERB
fsr-3876	52	29	a	a	DET
fsr-3876	52	30	valuable	valuable	ADJ
fsr-3876	52	31	opportunity	opportunity	NOUN
fsr-3876	52	32	for	for	ADP
fsr-3876	52	33	international	international	ADJ
fsr-3876	52	34	diversification	diversification	NOUN
fsr-3876	52	35	.	.	PUNCT
fsr-3876	53	1	of	of	ADP
fsr-3876	53	2	the	the	DET
fsr-3876	53	3	thirteen	thirteen	NUM
fsr-3876	53	4	funds	fund	NOUN
fsr-3876	53	5	,	,	PUNCT
fsr-3876	53	6	ten	ten	NUM
fsr-3876	53	7	outperform	outperform	VERB
fsr-3876	53	8	the	the	DET
fsr-3876	53	9	s	s	NOUN
fsr-3876	53	10	&	&	CCONJ
fsr-3876	53	11	p	p	PROPN
fsr-3876	53	12	500	500	NUM
fsr-3876	53	13	index	index	NOUN
fsr-3876	53	14	(	(	PUNCT
fsr-3876	53	15	s	s	NOUN
fsr-3876	53	16	&	&	CCONJ
fsr-3876	53	17	p	p	NOUN
fsr-3876	53	18	500	500	NUM
fsr-3876	53	19	)	)	PUNCT
fsr-3876	53	20	when	when	SCONJ
fsr-3876	53	21	evaluated	evaluate	VERB
fsr-3876	53	22	with	with	ADP
fsr-3876	53	23	the	the	DET
fsr-3876	53	24	sharpe	sharpe	PROPN
fsr-3876	53	25	ratio	ratio	NOUN
fsr-3876	53	26	.	.	PUNCT
fsr-3876	54	1	when	when	SCONJ
fsr-3876	54	2	these	these	DET
fsr-3876	54	3	funds	fund	NOUN
fsr-3876	54	4	are	be	AUX
fsr-3876	54	5	compared	compare	VERB
fsr-3876	54	6	to	to	ADP
fsr-3876	54	7	the	the	DET
fsr-3876	54	8	morgan	morgan	PROPN
fsr-3876	54	9	stanley	stanley	PROPN
fsr-3876	54	10	capital	capital	PROPN
fsr-3876	54	11	international	international	PROPN
fsr-3876	54	12	(	(	PUNCT
fsr-3876	54	13	msci	msci	PROPN
fsr-3876	54	14	)	)	PUNCT
fsr-3876	54	15	world	world	NOUN
fsr-3876	54	16	index	index	NOUN
fsr-3876	54	17	(	(	PUNCT
fsr-3876	54	18	w	w	NOUN
fsr-3876	54	19	)	)	PUNCT
fsr-3876	54	20	only	only	ADV
fsr-3876	54	21	two	two	NUM
fsr-3876	54	22	funds	fund	NOUN
fsr-3876	54	23	outperform	outperform	VERB
fsr-3876	54	24	the	the	DET
fsr-3876	54	25	benchmark	benchmark	NOUN
fsr-3876	54	26	.	.	PUNCT
fsr-3876	55	1	these	these	DET
fsr-3876	55	2	researchers	researcher	NOUN
fsr-3876	55	3	also	also	ADV
fsr-3876	55	4	study	study	VERB
fsr-3876	55	5	the	the	DET
fsr-3876	55	6	complementary	complementary	ADJ
fsr-3876	55	7	effects	effect	NOUN
fsr-3876	55	8	of	of	ADP
fsr-3876	55	9	adding	add	VERB
fsr-3876	55	10	international	international	ADJ
fsr-3876	55	11	funds	fund	NOUN
fsr-3876	55	12	to	to	ADP
fsr-3876	55	13	a	a	DET
fsr-3876	55	14	u.s	u.s	PROPN
fsr-3876	55	15	.	.	PROPN
fsr-3876	55	16	benchmark	benchmark	PROPN
fsr-3876	55	17	,	,	PUNCT
fsr-3876	55	18	s	s	PROPN
fsr-3876	55	19	&	&	CCONJ
fsr-3876	55	20	p500	p500	PROPN
fsr-3876	55	21	.	.	PUNCT
fsr-3876	56	1	they	they	PRON
fsr-3876	56	2	conclude	conclude	VERB
fsr-3876	56	3	that	that	SCONJ
fsr-3876	56	4	a	a	DET
fsr-3876	56	5	u.s	u.s	PROPN
fsr-3876	56	6	.	.	PROPN
fsr-3876	56	7	investor	investor	NOUN
fsr-3876	56	8	may	may	AUX
fsr-3876	56	9	benefit	benefit	VERB
fsr-3876	56	10	from	from	ADP
fsr-3876	56	11	adding	add	VERB
fsr-3876	56	12	any	any	DET
fsr-3876	56	13	international	international	ADJ
fsr-3876	56	14	fund	fund	NOUN
fsr-3876	56	15	,	,	PUNCT
fsr-3876	56	16	except	except	SCONJ
fsr-3876	56	17	the	the	DET
fsr-3876	56	18	canadian	canadian	PROPN
fsr-3876	56	19	fund	fund	PROPN
fsr-3876	56	20	.	.	PUNCT
fsr-3876	57	1	solnik	solnik	PROPN
fsr-3876	57	2	(	(	PUNCT
fsr-3876	57	3	1995	1995	NUM
fsr-3876	57	4	)	)	PUNCT
fsr-3876	57	5	shows	show	VERB
fsr-3876	57	6	that	that	SCONJ
fsr-3876	57	7	the	the	DET
fsr-3876	57	8	variability	variability	NOUN
fsr-3876	57	9	of	of	ADP
fsr-3876	57	10	returns	return	NOUN
fsr-3876	57	11	for	for	ADP
fsr-3876	57	12	an	an	DET
fsr-3876	57	13	internationally	internationally	ADV
fsr-3876	57	14	diversified	diversify	VERB
fsr-3876	57	15	portfolio	portfolio	NOUN
fsr-3876	57	16	is	be	AUX
fsr-3876	57	17	one	one	NUM
fsr-3876	57	18	-	-	PUNCT
fsr-3876	57	19	tenth	tenth	NOUN
fsr-3876	57	20	that	that	PRON
fsr-3876	57	21	of	of	ADP
fsr-3876	57	22	a	a	DET
fsr-3876	57	23	typical	typical	ADJ
fsr-3876	57	24	domestic	domestic	ADJ
fsr-3876	57	25	diversified	diversified	ADJ
fsr-3876	57	26	portfolio	portfolio	NOUN
fsr-3876	57	27	.	.	PUNCT
fsr-3876	58	1	apap	apap	PROPN
fsr-3876	58	2	and	and	CCONJ
fsr-3876	58	3	collins	collins	PROPN
fsr-3876	58	4	(	(	PUNCT
fsr-3876	58	5	1994	1994	NUM
fsr-3876	58	6	)	)	PUNCT
fsr-3876	58	7	show	show	VERB
fsr-3876	58	8	that	that	SCONJ
fsr-3876	58	9	the	the	DET
fsr-3876	58	10	performance	performance	NOUN
fsr-3876	58	11	of	of	ADP
fsr-3876	58	12	international	international	ADJ
fsr-3876	58	13	mutual	mutual	ADJ
fsr-3876	58	14	funds	fund	NOUN
fsr-3876	58	15	exceeds	exceed	VERB
fsr-3876	58	16	that	that	PRON
fsr-3876	58	17	of	of	ADP
fsr-3876	58	18	u.s	u.s	PROPN
fsr-3876	58	19	.	.	PROPN
fsr-3876	58	20	domestic	domestic	ADJ
fsr-3876	58	21	mutual	mutual	ADJ
fsr-3876	58	22	funds	fund	NOUN
fsr-3876	58	23	.	.	PUNCT
fsr-3876	59	1	the	the	DET
fsr-3876	59	2	fluctuations	fluctuation	NOUN
fsr-3876	59	3	of	of	ADP
fsr-3876	59	4	the	the	DET
fsr-3876	59	5	u.s	u.s	PROPN
fsr-3876	59	6	.	.	PROPN
fsr-3876	59	7	dollar	dollar	PROPN
fsr-3876	59	8	exchange	exchange	NOUN
fsr-3876	59	9	rate	rate	NOUN
fsr-3876	59	10	have	have	VERB
fsr-3876	59	11	a	a	DET
fsr-3876	59	12	negligible	negligible	ADJ
fsr-3876	59	13	effect	effect	NOUN
fsr-3876	59	14	in	in	ADP
fsr-3876	59	15	the	the	DET
fsr-3876	59	16	long	long	ADJ
fsr-3876	59	17	run	run	NOUN
fsr-3876	59	18	when	when	SCONJ
fsr-3876	59	19	the	the	DET
fsr-3876	59	20	mutual	mutual	ADJ
fsr-3876	59	21	fund	fund	NOUN
fsr-3876	59	22	invests	invest	NOUN
fsr-3876	59	23	in	in	ADP
fsr-3876	59	24	more	more	ADJ
fsr-3876	59	25	than	than	ADP
fsr-3876	59	26	one	one	NUM
fsr-3876	59	27	country	country	NOUN
fsr-3876	59	28	.	.	PUNCT
fsr-3876	60	1	on	on	ADP
fsr-3876	60	2	the	the	DET
fsr-3876	60	3	other	other	ADJ
fsr-3876	60	4	hand	hand	NOUN
fsr-3876	60	5	,	,	PUNCT
fsr-3876	60	6	droms	drom	NOUN
fsr-3876	60	7	and	and	CCONJ
fsr-3876	60	8	walker	walker	NOUN
fsr-3876	60	9	(	(	PUNCT
fsr-3876	60	10	1994	1994	NUM
fsr-3876	60	11	)	)	PUNCT
fsr-3876	60	12	find	find	VERB
fsr-3876	60	13	that	that	SCONJ
fsr-3876	60	14	international	international	ADJ
fsr-3876	60	15	mutual	mutual	ADJ
fsr-3876	60	16	funds	fund	NOUN
fsr-3876	60	17	do	do	AUX
fsr-3876	60	18	not	not	PART
fsr-3876	60	19	offer	offer	VERB
fsr-3876	60	20	excess	excess	ADJ
fsr-3876	60	21	risk	risk	NOUN
fsr-3876	60	22	-	-	PUNCT
fsr-3876	60	23	adjusted	adjust	VERB
fsr-3876	60	24	returns	return	NOUN
fsr-3876	60	25	.	.	PUNCT
fsr-3876	61	1	however	however	ADV
fsr-3876	61	2	,	,	PUNCT
fsr-3876	61	3	the	the	DET
fsr-3876	61	4	funds	fund	NOUN
fsr-3876	61	5	do	do	AUX
fsr-3876	61	6	offer	offer	VERB
fsr-3876	61	7	an	an	DET
fsr-3876	61	8	efficient	efficient	ADJ
fsr-3876	61	9	means	mean	NOUN
fsr-3876	61	10	of	of	ADP
fsr-3876	61	11	investing	invest	VERB
fsr-3876	61	12	in	in	ADP
fsr-3876	61	13	a	a	DET
fsr-3876	61	14	broadly	broadly	ADV
fsr-3876	61	15	diversified	diversify	VERB
fsr-3876	61	16	portfolio	portfolio	NOUN
fsr-3876	61	17	of	of	ADP
fsr-3876	61	18	common	common	ADJ
fsr-3876	61	19	stocks	stock	NOUN
fsr-3876	61	20	with	with	ADP
fsr-3876	61	21	returns	return	NOUN
fsr-3876	61	22	that	that	PRON
fsr-3876	61	23	are	be	AUX
fsr-3876	61	24	appropriate	appropriate	ADJ
fsr-3876	61	25	for	for	ADP
fsr-3876	61	26	the	the	DET
fsr-3876	61	27	risk	risk	NOUN
fsr-3876	61	28	exposure	exposure	NOUN
fsr-3876	61	29	.	.	PUNCT
fsr-3876	62	1	ho	ho	ADJ
fsr-3876	62	2	,	,	PUNCT
fsr-3876	62	3	milevsky	milevsky	NOUN
fsr-3876	62	4	,	,	PUNCT
fsr-3876	62	5	and	and	CCONJ
fsr-3876	62	6	robinson	robinson	PROPN
fsr-3876	62	7	(	(	PUNCT
fsr-3876	62	8	1999	1999	NUM
fsr-3876	62	9	)	)	PUNCT
fsr-3876	62	10	focus	focus	VERB
fsr-3876	62	11	on	on	ADP
fsr-3876	62	12	retired	retire	VERB
fsr-3876	62	13	investors	investor	NOUN
fsr-3876	62	14	who	who	PRON
fsr-3876	62	15	are	be	AUX
fsr-3876	62	16	consuming	consume	VERB
fsr-3876	62	17	accumulated	accumulate	VERB
fsr-3876	62	18	capital	capital	NOUN
fsr-3876	62	19	and	and	CCONJ
fsr-3876	62	20	the	the	DET
fsr-3876	62	21	income	income	NOUN
fsr-3876	62	22	from	from	ADP
fsr-3876	62	23	it	it	PRON
fsr-3876	62	24	.	.	PUNCT
fsr-3876	63	1	they	they	PRON
fsr-3876	63	2	show	show	VERB
fsr-3876	63	3	that	that	SCONJ
fsr-3876	63	4	retired	retire	VERB
fsr-3876	63	5	u.s	u.s	PROPN
fsr-3876	63	6	.	.	PROPN
fsr-3876	63	7	investors	investor	NOUN
fsr-3876	63	8	do	do	AUX
fsr-3876	63	9	not	not	PART
fsr-3876	63	10	benefit	benefit	VERB
fsr-3876	63	11	from	from	ADP
fsr-3876	63	12	international	international	ADJ
fsr-3876	63	13	equity	equity	NOUN
fsr-3876	63	14	diversification	diversification	NOUN
fsr-3876	63	15	.	.	PUNCT
fsr-3876	64	1	2.2	2.2	NUM
fsr-3876	64	2	.	.	PUNCT
fsr-3876	65	1	investing	invest	VERB
fsr-3876	65	2	in	in	ADP
fsr-3876	65	3	emerging	emerge	VERB
fsr-3876	65	4	markets	market	NOUN
fsr-3876	65	5	divecha	divecha	NOUN
fsr-3876	65	6	,	,	PUNCT
fsr-3876	65	7	drach	drach	NOUN
fsr-3876	65	8	,	,	PUNCT
fsr-3876	65	9	and	and	CCONJ
fsr-3876	65	10	stefek	stefek	NOUN
fsr-3876	65	11	(	(	PUNCT
fsr-3876	65	12	1992	1992	NUM
fsr-3876	65	13	)	)	PUNCT
fsr-3876	65	14	show	show	VERB
fsr-3876	65	15	that	that	SCONJ
fsr-3876	65	16	modest	modest	ADJ
fsr-3876	65	17	investments	investment	NOUN
fsr-3876	65	18	in	in	ADP
fsr-3876	65	19	emerging	emerge	VERB
fsr-3876	65	20	markets	market	NOUN
fsr-3876	65	21	are	be	AUX
fsr-3876	65	22	likely	likely	ADJ
fsr-3876	65	23	to	to	PART
fsr-3876	65	24	reduce	reduce	VERB
fsr-3876	65	25	overall	overall	ADJ
fsr-3876	65	26	portfolio	portfolio	NOUN
fsr-3876	65	27	risk	risk	NOUN
fsr-3876	65	28	.	.	PUNCT
fsr-3876	66	1	masters	master	NOUN
fsr-3876	66	2	(	(	PUNCT
fsr-3876	66	3	1998	1998	NUM
fsr-3876	66	4	)	)	PUNCT
fsr-3876	66	5	suggests	suggest	VERB
fsr-3876	66	6	that	that	SCONJ
fsr-3876	66	7	the	the	DET
fsr-3876	66	8	ideal	ideal	ADJ
fsr-3876	66	9	diversified	diversified	ADJ
fsr-3876	66	10	portfolio	portfolio	NOUN
fsr-3876	66	11	consists	consist	VERB
fsr-3876	66	12	of	of	ADP
fsr-3876	66	13	at	at	ADV
fsr-3876	66	14	least	least	ADV
fsr-3876	66	15	6	6	NUM
fsr-3876	66	16	%	%	NOUN
fsr-3876	66	17	allocated	allocate	VERB
fsr-3876	66	18	to	to	ADP
fsr-3876	66	19	emerging	emerge	VERB
fsr-3876	66	20	markets	market	NOUN
fsr-3876	66	21	.	.	PUNCT
fsr-3876	67	1	khanna	khanna	PROPN
fsr-3876	67	2	(	(	PUNCT
fsr-3876	67	3	1996	1996	NUM
fsr-3876	67	4	)	)	PUNCT
fsr-3876	67	5	recommends	recommend	VERB
fsr-3876	67	6	investing	invest	VERB
fsr-3876	67	7	in	in	ADP
fsr-3876	67	8	emerging	emerge	VERB
fsr-3876	67	9	markets	market	NOUN
fsr-3876	67	10	because	because	SCONJ
fsr-3876	67	11	their	their	PRON
fsr-3876	67	12	rapid	rapid	ADJ
fsr-3876	67	13	economic	economic	ADJ
fsr-3876	67	14	growth	growth	NOUN
fsr-3876	67	15	provides	provide	VERB
fsr-3876	67	16	for	for	ADP
fsr-3876	67	17	good	good	ADJ
fsr-3876	67	18	returns	return	NOUN
fsr-3876	67	19	.	.	PUNCT
fsr-3876	68	1	even	even	ADV
fsr-3876	68	2	though	though	SCONJ
fsr-3876	68	3	the	the	DET
fsr-3876	68	4	returns	return	NOUN
fsr-3876	68	5	are	be	AUX
fsr-3876	68	6	volatile	volatile	ADJ
fsr-3876	68	7	,	,	PUNCT
fsr-3876	68	8	these	these	DET
fsr-3876	68	9	markets	market	NOUN
fsr-3876	68	10	are	be	AUX
fsr-3876	68	11	poorly	poorly	ADV
fsr-3876	68	12	correlated	correlate	VERB
fsr-3876	68	13	to	to	ADP
fsr-3876	68	14	developed	develop	VERB
fsr-3876	68	15	markets	market	NOUN
fsr-3876	68	16	and	and	CCONJ
fsr-3876	68	17	,	,	PUNCT
fsr-3876	68	18	thus	thus	ADV
fsr-3876	68	19	,	,	PUNCT
fsr-3876	68	20	offer	offer	VERB
fsr-3876	68	21	good	good	ADJ
fsr-3876	68	22	portfolio	portfolio	NOUN
fsr-3876	68	23	diversification	diversification	NOUN
fsr-3876	68	24	benefits	benefit	NOUN
fsr-3876	68	25	.	.	PUNCT
fsr-3876	69	1	speidell	speidell	ADJ
fsr-3876	69	2	and	and	CCONJ
fsr-3876	69	3	sappenfield	sappenfield	PROPN
fsr-3876	69	4	(	(	PUNCT
fsr-3876	69	5	1992	1992	NUM
fsr-3876	69	6	)	)	PUNCT
fsr-3876	69	7	discuss	discuss	VERB
fsr-3876	69	8	the	the	DET
fsr-3876	69	9	fact	fact	NOUN
fsr-3876	69	10	that	that	SCONJ
fsr-3876	69	11	global	global	ADJ
fsr-3876	69	12	diversification	diversification	NOUN
fsr-3876	69	13	depends	depend	VERB
fsr-3876	69	14	on	on	ADP
fsr-3876	69	15	the	the	DET
fsr-3876	69	16	correlations	correlation	NOUN
fsr-3876	69	17	among	among	ADP
fsr-3876	69	18	countries	country	NOUN
fsr-3876	69	19	.	.	PUNCT
fsr-3876	70	1	they	they	PRON
fsr-3876	70	2	suggest	suggest	VERB
fsr-3876	70	3	that	that	SCONJ
fsr-3876	70	4	as	as	SCONJ
fsr-3876	70	5	the	the	DET
fsr-3876	70	6	developed	develop	VERB
fsr-3876	70	7	markets	market	NOUN
fsr-3876	70	8	move	move	VERB
fsr-3876	70	9	less	less	ADV
fsr-3876	70	10	independently	independently	ADV
fsr-3876	70	11	of	of	ADP
fsr-3876	70	12	each	each	DET
fsr-3876	70	13	other	other	ADJ
fsr-3876	70	14	,	,	PUNCT
fsr-3876	70	15	the	the	DET
fsr-3876	70	16	correlations	correlation	NOUN
fsr-3876	70	17	among	among	ADP
fsr-3876	70	18	them	they	PRON
fsr-3876	70	19	increase	increase	NOUN
fsr-3876	70	20	.	.	PUNCT
fsr-3876	71	1	this	this	PRON
fsr-3876	71	2	decreases	decrease	VERB
fsr-3876	71	3	the	the	DET
fsr-3876	71	4	potential	potential	NOUN
fsr-3876	71	5	for	for	ADP
fsr-3876	71	6	diversification	diversification	NOUN
fsr-3876	71	7	benefits	benefit	NOUN
fsr-3876	71	8	.	.	PUNCT
fsr-3876	72	1	on	on	ADP
fsr-3876	72	2	the	the	DET
fsr-3876	72	3	other	other	ADJ
fsr-3876	72	4	hand	hand	NOUN
fsr-3876	72	5	,	,	PUNCT
fsr-3876	72	6	emerging	emerge	VERB
fsr-3876	72	7	markets	market	NOUN
fsr-3876	72	8	are	be	AUX
fsr-3876	72	9	less	less	ADV
fsr-3876	72	10	correlated	correlate	VERB
fsr-3876	72	11	with	with	ADP
fsr-3876	72	12	the	the	DET
fsr-3876	72	13	developed	develop	VERB
fsr-3876	72	14	markets	market	NOUN
fsr-3876	72	15	;	;	PUNCT
fsr-3876	72	16	this	this	PRON
fsr-3876	72	17	increases	increase	VERB
fsr-3876	72	18	their	their	PRON
fsr-3876	72	19	relative	relative	ADJ
fsr-3876	72	20	diversification	diversification	NOUN
fsr-3876	72	21	advantage	advantage	NOUN
fsr-3876	72	22	.	.	PUNCT
fsr-3876	73	1	29s	29	NOUN
fsr-3876	73	2	.	.	PUNCT
fsr-3876	74	1	aiello	aiello	PROPN
fsr-3876	74	2	,	,	PUNCT
fsr-3876	74	3	n.	n.	PROPN
fsr-3876	74	4	chieffe	chieffe	PROPN
fsr-3876	74	5	/	/	SYM
fsr-3876	74	6	financial	financial	ADJ
fsr-3876	74	7	services	service	NOUN
fsr-3876	74	8	review	review	VERB
fsr-3876	74	9	8	8	NUM
fsr-3876	74	10	(	(	PUNCT
fsr-3876	74	11	1999	1999	NUM
fsr-3876	74	12	)	)	PUNCT
fsr-3876	74	13	27–35	27–35	NUM
fsr-3876	74	14	2.3	2.3	NUM
fsr-3876	74	15	.	.	PUNCT
fsr-3876	75	1	index	index	NOUN
fsr-3876	75	2	funds	fund	NOUN
fsr-3876	75	3	gruber	gruber	PROPN
fsr-3876	75	4	(	(	PUNCT
fsr-3876	75	5	1996	1996	NUM
fsr-3876	75	6	)	)	PUNCT
fsr-3876	75	7	questions	question	NOUN
fsr-3876	75	8	why	why	SCONJ
fsr-3876	75	9	so	so	ADV
fsr-3876	75	10	many	many	ADJ
fsr-3876	75	11	investors	investor	NOUN
fsr-3876	75	12	choose	choose	AUX
fsr-3876	75	13	actively	actively	ADV
fsr-3876	75	14	managed	manage	VERB
fsr-3876	75	15	mutual	mutual	ADJ
fsr-3876	75	16	funds	fund	NOUN
fsr-3876	75	17	when	when	SCONJ
fsr-3876	75	18	their	their	PRON
fsr-3876	75	19	performance	performance	NOUN
fsr-3876	75	20	,	,	PUNCT
fsr-3876	75	21	on	on	ADP
fsr-3876	75	22	average	average	ADJ
fsr-3876	75	23	,	,	PUNCT
fsr-3876	75	24	is	be	AUX
fsr-3876	75	25	inferior	inferior	ADJ
fsr-3876	75	26	to	to	ADP
fsr-3876	75	27	that	that	PRON
fsr-3876	75	28	of	of	ADP
fsr-3876	75	29	index	index	NOUN
fsr-3876	75	30	funds	fund	NOUN
fsr-3876	75	31	.	.	PUNCT
fsr-3876	76	1	bogle	bogle	PROPN
fsr-3876	76	2	(	(	PUNCT
fsr-3876	76	3	1998	1998	NUM
fsr-3876	76	4	)	)	PUNCT
fsr-3876	76	5	examines	examine	VERB
fsr-3876	76	6	the	the	DET
fsr-3876	76	7	relationships	relationship	NOUN
fsr-3876	76	8	among	among	ADP
fsr-3876	76	9	risk	risk	NOUN
fsr-3876	76	10	,	,	PUNCT
fsr-3876	76	11	return	return	NOUN
fsr-3876	76	12	,	,	PUNCT
fsr-3876	76	13	and	and	CCONJ
fsr-3876	76	14	cost	cost	NOUN
fsr-3876	76	15	.	.	PUNCT
fsr-3876	77	1	he	he	PRON
fsr-3876	77	2	shows	show	VERB
fsr-3876	77	3	that	that	SCONJ
fsr-3876	77	4	low	low	ADJ
fsr-3876	77	5	-	-	PUNCT
fsr-3876	77	6	cost	cost	NOUN
fsr-3876	77	7	passively	passively	ADV
fsr-3876	77	8	managed	manage	VERB
fsr-3876	77	9	index	index	NOUN
fsr-3876	77	10	funds	fund	NOUN
fsr-3876	77	11	deliver	deliver	VERB
fsr-3876	77	12	the	the	DET
fsr-3876	77	13	highest	high	ADJ
fsr-3876	77	14	risk	risk	NOUN
fsr-3876	77	15	-	-	PUNCT
fsr-3876	77	16	adjusted	adjust	VERB
fsr-3876	77	17	return	return	NOUN
fsr-3876	77	18	for	for	ADP
fsr-3876	77	19	each	each	DET
fsr-3876	77	20	category	category	NOUN
fsr-3876	77	21	of	of	ADP
fsr-3876	77	22	mutual	mutual	ADJ
fsr-3876	77	23	funds	fund	NOUN
fsr-3876	77	24	.	.	PUNCT
fsr-3876	78	1	malhorta	malhorta	NOUN
fsr-3876	78	2	and	and	CCONJ
fsr-3876	78	3	mcleod	mcleod	PROPN
fsr-3876	78	4	(	(	PUNCT
fsr-3876	78	5	1997	1997	NUM
fsr-3876	78	6	)	)	PUNCT
fsr-3876	78	7	show	show	VERB
fsr-3876	78	8	that	that	SCONJ
fsr-3876	78	9	mutual	mutual	ADJ
fsr-3876	78	10	fund	fund	NOUN
fsr-3876	78	11	expenses	expense	NOUN
fsr-3876	78	12	are	be	AUX
fsr-3876	78	13	inversely	inversely	ADV
fsr-3876	78	14	related	relate	VERB
fsr-3876	78	15	to	to	ADP
fsr-3876	78	16	the	the	DET
fsr-3876	78	17	investor	investor	NOUN
fsr-3876	78	18	’s	’s	PART
fsr-3876	78	19	returns	return	NOUN
fsr-3876	78	20	.	.	PUNCT
fsr-3876	79	1	hogan	hogan	PROPN
fsr-3876	79	2	(	(	PUNCT
fsr-3876	79	3	1994	1994	NUM
fsr-3876	79	4	)	)	PUNCT
fsr-3876	79	5	recommends	recommend	VERB
fsr-3876	79	6	that	that	SCONJ
fsr-3876	79	7	financial	financial	ADJ
fsr-3876	79	8	advisors	advisor	NOUN
fsr-3876	79	9	use	use	VERB
fsr-3876	79	10	index	index	NOUN
fsr-3876	79	11	mutual	mutual	ADJ
fsr-3876	79	12	funds	fund	NOUN
fsr-3876	79	13	in	in	ADP
fsr-3876	79	14	an	an	DET
fsr-3876	79	15	asset	asset	NOUN
fsr-3876	79	16	-	-	PUNCT
fsr-3876	79	17	class	class	NOUN
fsr-3876	79	18	investing	investing	NOUN
fsr-3876	79	19	strategy	strategy	NOUN
fsr-3876	79	20	.	.	PUNCT
fsr-3876	80	1	hogan	hogan	PROPN
fsr-3876	80	2	stresses	stress	VERB
fsr-3876	80	3	that	that	SCONJ
fsr-3876	80	4	this	this	DET
fsr-3876	80	5	strategy	strategy	NOUN
fsr-3876	80	6	is	be	AUX
fsr-3876	80	7	consistent	consistent	ADJ
fsr-3876	80	8	with	with	ADP
fsr-3876	80	9	modern	modern	ADJ
fsr-3876	80	10	portfolio	portfolio	NOUN
fsr-3876	80	11	theory	theory	NOUN
fsr-3876	80	12	and	and	CCONJ
fsr-3876	80	13	presents	present	VERB
fsr-3876	80	14	important	important	ADJ
fsr-3876	80	15	cost	cost	NOUN
fsr-3876	80	16	advantages	advantage	NOUN
fsr-3876	80	17	for	for	ADP
fsr-3876	80	18	clients	client	NOUN
fsr-3876	80	19	.	.	PUNCT
fsr-3876	81	1	2.4	2.4	NUM
fsr-3876	81	2	.	.	PUNCT
fsr-3876	82	1	international	international	ADJ
fsr-3876	82	2	indexes	index	NOUN
fsr-3876	82	3	although	although	SCONJ
fsr-3876	82	4	it	it	PRON
fsr-3876	82	5	is	be	AUX
fsr-3876	82	6	certain	certain	ADJ
fsr-3876	82	7	that	that	SCONJ
fsr-3876	82	8	international	international	ADJ
fsr-3876	82	9	index	index	NOUN
fsr-3876	82	10	funds	fund	NOUN
fsr-3876	82	11	have	have	VERB
fsr-3876	82	12	a	a	DET
fsr-3876	82	13	lower	low	ADJ
fsr-3876	82	14	correlation	correlation	NOUN
fsr-3876	82	15	to	to	ADP
fsr-3876	82	16	the	the	DET
fsr-3876	82	17	u.s	u.s	PROPN
fsr-3876	82	18	.	.	PROPN
fsr-3876	82	19	stock	stock	NOUN
fsr-3876	82	20	market	market	NOUN
fsr-3876	82	21	than	than	SCONJ
fsr-3876	82	22	do	do	VERB
fsr-3876	82	23	domestic	domestic	ADJ
fsr-3876	82	24	index	index	NOUN
fsr-3876	82	25	funds	fund	NOUN
fsr-3876	82	26	,	,	PUNCT
fsr-3876	82	27	it	it	PRON
fsr-3876	82	28	is	be	AUX
fsr-3876	82	29	not	not	PART
fsr-3876	82	30	clear	clear	ADJ
fsr-3876	82	31	whether	whether	SCONJ
fsr-3876	82	32	they	they	PRON
fsr-3876	82	33	outperform	outperform	VERB
fsr-3876	82	34	typical	typical	ADJ
fsr-3876	82	35	domestic	domestic	ADJ
fsr-3876	82	36	index	index	NOUN
fsr-3876	82	37	strategies	strategy	NOUN
fsr-3876	82	38	or	or	CCONJ
fsr-3876	82	39	actively	actively	ADV
fsr-3876	82	40	managed	manage	VERB
fsr-3876	82	41	international	international	ADJ
fsr-3876	82	42	strategies	strategy	NOUN
fsr-3876	82	43	.	.	PUNCT
fsr-3876	83	1	one	one	NUM
fsr-3876	83	2	difficulty	difficulty	NOUN
fsr-3876	83	3	in	in	ADP
fsr-3876	83	4	determining	determine	VERB
fsr-3876	83	5	the	the	DET
fsr-3876	83	6	performance	performance	NOUN
fsr-3876	83	7	of	of	ADP
fsr-3876	83	8	international	international	ADJ
fsr-3876	83	9	index	index	NOUN
fsr-3876	83	10	funds	fund	NOUN
fsr-3876	83	11	is	be	AUX
fsr-3876	83	12	that	that	SCONJ
fsr-3876	83	13	there	there	PRON
fsr-3876	83	14	is	be	VERB
fsr-3876	83	15	no	no	DET
fsr-3876	83	16	accepted	accept	VERB
fsr-3876	83	17	standard	standard	ADJ
fsr-3876	83	18	index	index	NOUN
fsr-3876	83	19	like	like	ADP
fsr-3876	83	20	the	the	DET
fsr-3876	83	21	s	s	PROPN
fsr-3876	83	22	&	&	CCONJ
fsr-3876	83	23	p	p	NOUN
fsr-3876	83	24	500	500	NUM
fsr-3876	83	25	(	(	PUNCT
fsr-3876	83	26	masters	master	NOUN
fsr-3876	83	27	1998	1998	NUM
fsr-3876	83	28	)	)	PUNCT
fsr-3876	83	29	.	.	PUNCT
fsr-3876	84	1	more	more	ADJ
fsr-3876	84	2	than	than	ADP
fsr-3876	84	3	38	38	NUM
fsr-3876	84	4	%	%	NOUN
fsr-3876	84	5	of	of	ADP
fsr-3876	84	6	the	the	DET
fsr-3876	84	7	international	international	ADJ
fsr-3876	84	8	equities	equity	NOUN
fsr-3876	84	9	are	be	AUX
fsr-3876	84	10	included	include	VERB
fsr-3876	84	11	in	in	ADP
fsr-3876	84	12	the	the	DET
fsr-3876	84	13	msci	msci	PROPN
fsr-3876	84	14	european	european	PROPN
fsr-3876	84	15	australasia	australasia	PROPN
fsr-3876	84	16	and	and	CCONJ
fsr-3876	84	17	far	far	ADV
fsr-3876	84	18	east	east	NOUN
fsr-3876	84	19	index	index	NOUN
fsr-3876	84	20	(	(	PUNCT
fsr-3876	84	21	eafe	eafe	ADJ
fsr-3876	84	22	)	)	PUNCT
fsr-3876	84	23	,	,	PUNCT
fsr-3876	84	24	but	but	CCONJ
fsr-3876	84	25	there	there	PRON
fsr-3876	84	26	are	be	VERB
fsr-3876	84	27	a	a	DET
fsr-3876	84	28	variety	variety	NOUN
fsr-3876	84	29	of	of	ADP
fsr-3876	84	30	other	other	ADJ
fsr-3876	84	31	indexes	index	NOUN
fsr-3876	84	32	to	to	PART
fsr-3876	84	33	choose	choose	VERB
fsr-3876	84	34	from	from	ADP
fsr-3876	84	35	.	.	PUNCT
fsr-3876	85	1	emerging	emerge	VERB
fsr-3876	85	2	market	market	NOUN
fsr-3876	85	3	indexes	index	NOUN
fsr-3876	85	4	were	be	AUX
fsr-3876	85	5	created	create	VERB
fsr-3876	85	6	in	in	ADP
fsr-3876	85	7	1985	1985	NUM
fsr-3876	85	8	by	by	ADP
fsr-3876	85	9	the	the	DET
fsr-3876	85	10	international	international	ADJ
fsr-3876	85	11	finance	finance	NOUN
fsr-3876	85	12	corporation	corporation	NOUN
fsr-3876	85	13	and	and	CCONJ
fsr-3876	85	14	in	in	ADP
fsr-3876	85	15	1988	1988	NUM
fsr-3876	85	16	by	by	ADP
fsr-3876	85	17	msci	msci	PROPN
fsr-3876	85	18	.	.	PUNCT
fsr-3876	86	1	investors	investor	NOUN
fsr-3876	86	2	expect	expect	VERB
fsr-3876	86	3	indexes	index	NOUN
fsr-3876	86	4	to	to	PART
fsr-3876	86	5	closely	closely	ADV
fsr-3876	86	6	track	track	VERB
fsr-3876	86	7	the	the	DET
fsr-3876	86	8	market	market	NOUN
fsr-3876	86	9	they	they	PRON
fsr-3876	86	10	follow	follow	VERB
fsr-3876	86	11	,	,	PUNCT
fsr-3876	86	12	in	in	ADP
fsr-3876	86	13	this	this	DET
fsr-3876	86	14	case	case	NOUN
fsr-3876	86	15	the	the	DET
fsr-3876	86	16	emerging	emerge	VERB
fsr-3876	86	17	markets	market	NOUN
fsr-3876	86	18	.	.	PUNCT
fsr-3876	87	1	one	one	NUM
fsr-3876	87	2	of	of	ADP
fsr-3876	87	3	the	the	DET
fsr-3876	87	4	problems	problem	NOUN
fsr-3876	87	5	associated	associate	VERB
fsr-3876	87	6	with	with	ADP
fsr-3876	87	7	international	international	ADJ
fsr-3876	87	8	indexes	index	NOUN
fsr-3876	87	9	is	be	AUX
fsr-3876	87	10	that	that	SCONJ
fsr-3876	87	11	each	each	PRON
fsr-3876	87	12	is	be	AUX
fsr-3876	87	13	different	different	ADJ
fsr-3876	87	14	in	in	ADP
fsr-3876	87	15	the	the	DET
fsr-3876	87	16	way	way	NOUN
fsr-3876	87	17	it	it	PRON
fsr-3876	87	18	tracks	track	VERB
fsr-3876	87	19	its	its	PRON
fsr-3876	87	20	underlying	underlie	VERB
fsr-3876	87	21	market	market	NOUN
fsr-3876	87	22	.	.	PUNCT
fsr-3876	88	1	another	another	DET
fsr-3876	88	2	problem	problem	NOUN
fsr-3876	88	3	with	with	ADP
fsr-3876	88	4	emerging	emerge	VERB
fsr-3876	88	5	markets	market	NOUN
fsr-3876	88	6	indexes	index	NOUN
fsr-3876	88	7	is	be	AUX
fsr-3876	88	8	country	country	NOUN
fsr-3876	88	9	weights	weight	NOUN
fsr-3876	88	10	.	.	PUNCT
fsr-3876	89	1	the	the	DET
fsr-3876	89	2	global	global	ADJ
fsr-3876	89	3	capitalization	capitalization	NOUN
fsr-3876	89	4	weight	weight	NOUN
fsr-3876	89	5	for	for	ADP
fsr-3876	89	6	a	a	DET
fsr-3876	89	7	particular	particular	ADJ
fsr-3876	89	8	country	country	NOUN
fsr-3876	89	9	can	can	AUX
fsr-3876	89	10	change	change	VERB
fsr-3876	89	11	dramatically	dramatically	ADV
fsr-3876	89	12	over	over	ADP
fsr-3876	89	13	a	a	DET
fsr-3876	89	14	short	short	ADJ
fsr-3876	89	15	period	period	NOUN
fsr-3876	89	16	of	of	ADP
fsr-3876	89	17	time	time	NOUN
fsr-3876	89	18	.	.	PUNCT
fsr-3876	90	1	because	because	SCONJ
fsr-3876	90	2	the	the	DET
fsr-3876	90	3	benchmark	benchmark	NOUN
fsr-3876	90	4	tracks	track	NOUN
fsr-3876	90	5	only	only	ADV
fsr-3876	90	6	emerging	emerge	VERB
fsr-3876	90	7	markets	market	NOUN
fsr-3876	90	8	,	,	PUNCT
fsr-3876	90	9	new	new	ADJ
fsr-3876	90	10	developed	develop	VERB
fsr-3876	90	11	markets	market	NOUN
fsr-3876	90	12	must	must	AUX
fsr-3876	90	13	be	be	AUX
fsr-3876	90	14	removed	remove	VERB
fsr-3876	90	15	and	and	CCONJ
fsr-3876	90	16	new	new	ADJ
fsr-3876	90	17	emerging	emerge	VERB
fsr-3876	90	18	markets	market	NOUN
fsr-3876	90	19	must	must	AUX
fsr-3876	90	20	be	be	AUX
fsr-3876	90	21	added	add	VERB
fsr-3876	90	22	.	.	PUNCT
fsr-3876	91	1	unstable	unstable	ADJ
fsr-3876	91	2	and	and	CCONJ
fsr-3876	91	3	confusing	confuse	VERB
fsr-3876	91	4	weights	weight	NOUN
fsr-3876	91	5	lead	lead	VERB
fsr-3876	91	6	to	to	ADP
fsr-3876	91	7	higher	high	ADJ
fsr-3876	91	8	costs	cost	NOUN
fsr-3876	91	9	caused	cause	VERB
fsr-3876	91	10	by	by	ADP
fsr-3876	91	11	higher	high	ADJ
fsr-3876	91	12	turnover	turnover	NOUN
fsr-3876	91	13	ratios	ratio	NOUN
fsr-3876	91	14	.	.	PUNCT
fsr-3876	92	1	transaction	transaction	NOUN
fsr-3876	92	2	costs	cost	NOUN
fsr-3876	92	3	are	be	AUX
fsr-3876	92	4	another	another	DET
fsr-3876	92	5	factor	factor	NOUN
fsr-3876	92	6	that	that	PRON
fsr-3876	92	7	lead	lead	VERB
fsr-3876	92	8	to	to	ADP
fsr-3876	92	9	inefficiency	inefficiency	NOUN
fsr-3876	92	10	and	and	CCONJ
fsr-3876	92	11	these	these	PRON
fsr-3876	92	12	are	be	AUX
fsr-3876	92	13	about	about	ADV
fsr-3876	92	14	five	five	NUM
fsr-3876	92	15	times	time	NOUN
fsr-3876	92	16	those	those	PRON
fsr-3876	92	17	encountered	encounter	VERB
fsr-3876	92	18	in	in	ADP
fsr-3876	92	19	u.s	u.s	PROPN
fsr-3876	92	20	.	.	PROPN
fsr-3876	92	21	index	index	NOUN
fsr-3876	92	22	funds	fund	NOUN
fsr-3876	92	23	.	.	PUNCT
fsr-3876	93	1	2.5	2.5	NUM
fsr-3876	93	2	.	.	PUNCT
fsr-3876	94	1	current	current	ADJ
fsr-3876	94	2	study	study	NOUN
fsr-3876	94	3	cumby	cumby	VERB
fsr-3876	94	4	and	and	CCONJ
fsr-3876	94	5	glen	glen	PROPN
fsr-3876	94	6	(	(	PUNCT
fsr-3876	94	7	1990	1990	NUM
fsr-3876	94	8	)	)	PUNCT
fsr-3876	94	9	,	,	PUNCT
fsr-3876	94	10	eun	eun	PROPN
fsr-3876	94	11	,	,	PUNCT
fsr-3876	94	12	kolodny	kolodny	PROPN
fsr-3876	94	13	,	,	PUNCT
fsr-3876	94	14	and	and	CCONJ
fsr-3876	94	15	resnick	resnick	PROPN
fsr-3876	94	16	(	(	PUNCT
fsr-3876	94	17	1991	1991	NUM
fsr-3876	94	18	)	)	PUNCT
fsr-3876	94	19	,	,	PUNCT
fsr-3876	94	20	solnik	solnik	X
fsr-3876	94	21	(	(	PUNCT
fsr-3876	94	22	1995	1995	NUM
fsr-3876	94	23	)	)	PUNCT
fsr-3876	94	24	,	,	PUNCT
fsr-3876	94	25	apap	apap	NOUN
fsr-3876	94	26	and	and	CCONJ
fsr-3876	94	27	collins	collins	PROPN
fsr-3876	94	28	(	(	PUNCT
fsr-3876	94	29	1994	1994	NUM
fsr-3876	94	30	)	)	PUNCT
fsr-3876	94	31	,	,	PUNCT
fsr-3876	94	32	and	and	CCONJ
fsr-3876	94	33	droms	drom	NOUN
fsr-3876	94	34	and	and	CCONJ
fsr-3876	94	35	walker	walker	NOUN
fsr-3876	94	36	(	(	PUNCT
fsr-3876	94	37	1994	1994	NUM
fsr-3876	94	38	)	)	PUNCT
fsr-3876	94	39	find	find	VERB
fsr-3876	94	40	advantages	advantage	NOUN
fsr-3876	94	41	in	in	ADP
fsr-3876	94	42	international	international	ADJ
fsr-3876	94	43	mutual	mutual	ADJ
fsr-3876	94	44	funds	fund	NOUN
fsr-3876	94	45	.	.	PUNCT
fsr-3876	95	1	divecha	divecha	NOUN
fsr-3876	95	2	,	,	PUNCT
fsr-3876	95	3	drach	drach	NOUN
fsr-3876	95	4	,	,	PUNCT
fsr-3876	95	5	and	and	CCONJ
fsr-3876	95	6	stefek	stefek	NOUN
fsr-3876	95	7	(	(	PUNCT
fsr-3876	95	8	1992	1992	NUM
fsr-3876	95	9	)	)	PUNCT
fsr-3876	95	10	,	,	PUNCT
fsr-3876	95	11	masters	master	NOUN
fsr-3876	95	12	(	(	PUNCT
fsr-3876	95	13	1998	1998	NUM
fsr-3876	95	14	)	)	PUNCT
fsr-3876	95	15	,	,	PUNCT
fsr-3876	95	16	khanna	khanna	PROPN
fsr-3876	95	17	(	(	PUNCT
fsr-3876	95	18	1996	1996	NUM
fsr-3876	95	19	)	)	PUNCT
fsr-3876	95	20	,	,	PUNCT
fsr-3876	95	21	and	and	CCONJ
fsr-3876	95	22	speidell	speidell	ADJ
fsr-3876	95	23	and	and	CCONJ
fsr-3876	95	24	sappenfield	sappenfield	PROPN
fsr-3876	95	25	(	(	PUNCT
fsr-3876	95	26	1992	1992	NUM
fsr-3876	95	27	)	)	PUNCT
fsr-3876	95	28	recommend	recommend	VERB
fsr-3876	95	29	investing	invest	VERB
fsr-3876	95	30	in	in	ADP
fsr-3876	95	31	emerging	emerge	VERB
fsr-3876	95	32	markets	market	NOUN
fsr-3876	95	33	.	.	PUNCT
fsr-3876	96	1	gruber	gruber	NOUN
fsr-3876	96	2	(	(	PUNCT
fsr-3876	96	3	1996	1996	NUM
fsr-3876	96	4	)	)	PUNCT
fsr-3876	96	5	,	,	PUNCT
fsr-3876	96	6	bogle	bogle	PROPN
fsr-3876	96	7	(	(	PUNCT
fsr-3876	96	8	1998	1998	NUM
fsr-3876	96	9	)	)	PUNCT
fsr-3876	96	10	,	,	PUNCT
fsr-3876	96	11	malhorta	malhorta	NOUN
fsr-3876	96	12	and	and	CCONJ
fsr-3876	96	13	mcleod	mcleod	PROPN
fsr-3876	96	14	(	(	PUNCT
fsr-3876	96	15	1997	1997	NUM
fsr-3876	96	16	)	)	PUNCT
fsr-3876	96	17	,	,	PUNCT
fsr-3876	96	18	and	and	CCONJ
fsr-3876	96	19	hogan	hogan	PROPN
fsr-3876	96	20	(	(	PUNCT
fsr-3876	96	21	1994	1994	NUM
fsr-3876	96	22	)	)	PUNCT
fsr-3876	96	23	find	find	VERB
fsr-3876	96	24	advantages	advantage	NOUN
fsr-3876	96	25	in	in	ADP
fsr-3876	96	26	index	index	NOUN
fsr-3876	96	27	funds	fund	NOUN
fsr-3876	96	28	.	.	PUNCT
fsr-3876	97	1	in	in	ADP
fsr-3876	97	2	this	this	DET
fsr-3876	97	3	paper	paper	NOUN
fsr-3876	97	4	,	,	PUNCT
fsr-3876	97	5	we	we	PRON
fsr-3876	97	6	ask	ask	VERB
fsr-3876	97	7	,	,	PUNCT
fsr-3876	97	8	if	if	SCONJ
fsr-3876	97	9	investors	investor	NOUN
fsr-3876	97	10	should	should	AUX
fsr-3876	97	11	choose	choose	VERB
fsr-3876	97	12	international	international	ADJ
fsr-3876	97	13	mutual	mutual	ADJ
fsr-3876	97	14	funds	fund	NOUN
fsr-3876	97	15	,	,	PUNCT
fsr-3876	97	16	and	and	CCONJ
fsr-3876	97	17	if	if	SCONJ
fsr-3876	97	18	they	they	PRON
fsr-3876	97	19	should	should	AUX
fsr-3876	97	20	choose	choose	VERB
fsr-3876	97	21	index	index	NOUN
fsr-3876	97	22	funds	fund	NOUN
fsr-3876	97	23	,	,	PUNCT
fsr-3876	97	24	should	should	AUX
fsr-3876	97	25	they	they	PRON
fsr-3876	97	26	then	then	ADV
fsr-3876	97	27	also	also	ADV
fsr-3876	97	28	choose	choose	VERB
fsr-3876	97	29	international	international	ADJ
fsr-3876	97	30	index	index	NOUN
fsr-3876	97	31	funds	fund	NOUN
fsr-3876	97	32	including	include	VERB
fsr-3876	97	33	emerging	emerge	VERB
fsr-3876	97	34	markets	market	NOUN
fsr-3876	97	35	index	index	NOUN
fsr-3876	97	36	funds	fund	NOUN
fsr-3876	97	37	?	?	PUNCT
fsr-3876	98	1	we	we	PRON
fsr-3876	98	2	find	find	VERB
fsr-3876	98	3	no	no	DET
fsr-3876	98	4	conflict	conflict	NOUN
fsr-3876	98	5	with	with	ADP
fsr-3876	98	6	ho	ho	PROPN
fsr-3876	98	7	,	,	PUNCT
fsr-3876	98	8	milevsky	milevsky	NOUN
fsr-3876	98	9	,	,	PUNCT
fsr-3876	98	10	and	and	CCONJ
fsr-3876	98	11	robinson	robinson	PROPN
fsr-3876	98	12	(	(	PUNCT
fsr-3876	98	13	1999	1999	NUM
fsr-3876	98	14	)	)	PUNCT
fsr-3876	98	15	who	who	PRON
fsr-3876	98	16	find	find	VERB
fsr-3876	98	17	no	no	DET
fsr-3876	98	18	benefit	benefit	NOUN
fsr-3876	98	19	in	in	ADP
fsr-3876	98	20	international	international	ADJ
fsr-3876	98	21	diversification	diversification	NOUN
fsr-3876	98	22	for	for	ADP
fsr-3876	98	23	retired	retire	VERB
fsr-3876	98	24	u.s	u.s	PROPN
fsr-3876	98	25	.	.	PROPN
fsr-3876	98	26	investors	investor	NOUN
fsr-3876	98	27	.	.	PUNCT
fsr-3876	99	1	unlike	unlike	ADP
fsr-3876	99	2	their	their	PRON
fsr-3876	99	3	study	study	NOUN
fsr-3876	99	4	,	,	PUNCT
fsr-3876	99	5	this	this	DET
fsr-3876	99	6	study	study	NOUN
fsr-3876	99	7	concerns	concern	VERB
fsr-3876	99	8	the	the	DET
fsr-3876	99	9	accumulation	accumulation	NOUN
fsr-3876	99	10	phase	phase	NOUN
fsr-3876	99	11	.	.	PUNCT
fsr-3876	100	1	30	30	NUM
fsr-3876	100	2	s.	s.	PROPN
fsr-3876	100	3	aiello	aiello	PROPN
fsr-3876	100	4	,	,	PUNCT
fsr-3876	100	5	n.	n.	PROPN
fsr-3876	100	6	chieffe	chieffe	ADJ
fsr-3876	100	7	/	/	SYM
fsr-3876	100	8	financial	financial	ADJ
fsr-3876	100	9	services	service	NOUN
fsr-3876	100	10	review	review	VERB
fsr-3876	100	11	8	8	NUM
fsr-3876	100	12	(	(	PUNCT
fsr-3876	100	13	1999	1999	NUM
fsr-3876	100	14	)	)	PUNCT
fsr-3876	100	15	27–35	27–35	NUM
fsr-3876	100	16	3	3	NUM
fsr-3876	100	17	.	.	PUNCT
fsr-3876	101	1	research	research	NOUN
fsr-3876	101	2	design	design	NOUN
fsr-3876	101	3	to	to	PART
fsr-3876	101	4	prove	prove	VERB
fsr-3876	101	5	that	that	SCONJ
fsr-3876	101	6	international	international	ADJ
fsr-3876	101	7	index	index	NOUN
fsr-3876	101	8	funds	fund	NOUN
fsr-3876	101	9	are	be	AUX
fsr-3876	101	10	an	an	DET
fsr-3876	101	11	excellent	excellent	ADJ
fsr-3876	101	12	way	way	NOUN
fsr-3876	101	13	for	for	SCONJ
fsr-3876	101	14	the	the	DET
fsr-3876	101	15	domestic	domestic	ADJ
fsr-3876	101	16	individual	individual	NOUN
fsr-3876	101	17	to	to	PART
fsr-3876	101	18	invest	invest	VERB
fsr-3876	101	19	,	,	PUNCT
fsr-3876	101	20	we	we	PRON
fsr-3876	101	21	perform	perform	VERB
fsr-3876	101	22	tests	test	NOUN
fsr-3876	101	23	to	to	PART
fsr-3876	101	24	determine	determine	VERB
fsr-3876	101	25	whether	whether	SCONJ
fsr-3876	101	26	international	international	ADJ
fsr-3876	101	27	indexes	index	NOUN
fsr-3876	101	28	outperform	outperform	VERB
fsr-3876	101	29	domestic	domestic	ADJ
fsr-3876	101	30	indexes	index	NOUN
fsr-3876	101	31	and	and	CCONJ
fsr-3876	101	32	to	to	PART
fsr-3876	101	33	determine	determine	VERB
fsr-3876	101	34	whether	whether	SCONJ
fsr-3876	101	35	there	there	PRON
fsr-3876	101	36	are	be	VERB
fsr-3876	101	37	the	the	DET
fsr-3876	101	38	diversification	diversification	NOUN
fsr-3876	101	39	benefits	benefit	NOUN
fsr-3876	101	40	to	to	ADP
fsr-3876	101	41	investing	invest	VERB
fsr-3876	101	42	in	in	ADP
fsr-3876	101	43	international	international	ADJ
fsr-3876	101	44	index	index	NOUN
fsr-3876	101	45	funds	fund	NOUN
fsr-3876	101	46	.	.	PUNCT
fsr-3876	102	1	we	we	PRON
fsr-3876	102	2	first	first	ADV
fsr-3876	102	3	test	test	VERB
fsr-3876	102	4	the	the	DET
fsr-3876	102	5	monthly	monthly	ADJ
fsr-3876	102	6	return	return	NOUN
fsr-3876	102	7	data	datum	NOUN
fsr-3876	102	8	of	of	ADP
fsr-3876	102	9	nine	nine	NUM
fsr-3876	102	10	international	international	ADJ
fsr-3876	102	11	indexes	index	NOUN
fsr-3876	102	12	to	to	PART
fsr-3876	102	13	determine	determine	VERB
fsr-3876	102	14	whether	whether	SCONJ
fsr-3876	102	15	they	they	PRON
fsr-3876	102	16	outperform	outperform	VERB
fsr-3876	102	17	the	the	DET
fsr-3876	102	18	s	s	NOUN
fsr-3876	102	19	&	&	CCONJ
fsr-3876	102	20	p	p	PROPN
fsr-3876	102	21	500benchmark	500benchmark	PROPN
fsr-3876	102	22	on	on	ADP
fsr-3876	102	23	a	a	DET
fsr-3876	102	24	risk	risk	NOUN
fsr-3876	102	25	-	-	PUNCT
fsr-3876	102	26	adjusted	adjust	VERB
fsr-3876	102	27	basis	basis	NOUN
fsr-3876	102	28	.	.	PUNCT
fsr-3876	103	1	these	these	DET
fsr-3876	103	2	tests	test	NOUN
fsr-3876	103	3	include	include	VERB
fsr-3876	103	4	the	the	DET
fsr-3876	103	5	sharpe	sharpe	PROPN
fsr-3876	103	6	,	,	PUNCT
fsr-3876	103	7	treynor	treynor	NOUN
fsr-3876	103	8	,	,	PUNCT
fsr-3876	103	9	and	and	CCONJ
fsr-3876	103	10	jensen	jensen	PROPN
fsr-3876	103	11	measures	measure	NOUN
fsr-3876	103	12	.	.	PUNCT
fsr-3876	104	1	the	the	DET
fsr-3876	104	2	sharpe	sharpe	PROPN
fsr-3876	104	3	(	(	PUNCT
fsr-3876	104	4	1966	1966	NUM
fsr-3876	104	5	)	)	PUNCT
fsr-3876	104	6	measure	measure	NOUN
fsr-3876	104	7	is	be	AUX
fsr-3876	104	8	the	the	DET
fsr-3876	104	9	ratio	ratio	NOUN
fsr-3876	104	10	of	of	ADP
fsr-3876	104	11	average	average	ADJ
fsr-3876	104	12	risk	risk	NOUN
fsr-3876	104	13	premium	premium	NOUN
fsr-3876	104	14	to	to	ADP
fsr-3876	104	15	the	the	DET
fsr-3876	104	16	total	total	ADJ
fsr-3876	104	17	risk	risk	NOUN
fsr-3876	104	18	the	the	DET
fsr-3876	104	19	portfolio	portfolio	NOUN
fsr-3876	104	20	faces	face	VERB
fsr-3876	104	21	during	during	ADP
fsr-3876	104	22	the	the	DET
fsr-3876	104	23	evaluation	evaluation	NOUN
fsr-3876	104	24	period	period	NOUN
fsr-3876	104	25	.	.	PUNCT
fsr-3876	105	1	this	this	DET
fsr-3876	105	2	sharpe	sharpe	PROPN
fsr-3876	105	3	measure	measure	NOUN
fsr-3876	105	4	is	be	AUX
fsr-3876	105	5	relevant	relevant	ADJ
fsr-3876	105	6	for	for	SCONJ
fsr-3876	105	7	the	the	DET
fsr-3876	105	8	investor	investor	NOUN
fsr-3876	105	9	choosing	choose	VERB
fsr-3876	105	10	a	a	DET
fsr-3876	105	11	specific	specific	ADJ
fsr-3876	105	12	fund	fund	NOUN
fsr-3876	105	13	for	for	ADP
fsr-3876	105	14	a	a	DET
fsr-3876	105	15	major	major	ADJ
fsr-3876	105	16	portion	portion	NOUN
fsr-3876	105	17	of	of	ADP
fsr-3876	105	18	his	his	PRON
fsr-3876	105	19	/	/	SYM
fsr-3876	105	20	her	her	PRON
fsr-3876	105	21	portfolio	portfolio	NOUN
fsr-3876	105	22	:	:	PUNCT
fsr-3876	105	23	si	si	PROPN
fsr-3876	105	24	5	5	NUM
fsr-3876	105	25	r	r	SYM
fsr-3876	105	26	#	#	NOUN
fsr-3876	105	27	i	i	NOUN
fsr-3876	105	28	2	2	NUM
fsr-3876	105	29	r	r	NOUN
fsr-3876	105	30	#	#	NOUN
fsr-3876	105	31	f	f	NOUN
fsr-3876	105	32	si	si	X
fsr-3876	105	33	(	(	PUNCT
fsr-3876	105	34	1	1	NUM
fsr-3876	105	35	)	)	PUNCT
fsr-3876	105	36	where	where	SCONJ
fsr-3876	105	37	si	si	PROPN
fsr-3876	105	38	is	be	AUX
fsr-3876	105	39	the	the	DET
fsr-3876	105	40	sharpe	sharpe	NOUN
fsr-3876	105	41	measure	measure	NOUN
fsr-3876	105	42	for	for	ADP
fsr-3876	105	43	indexi	indexi	NOUN
fsr-3876	105	44	;	;	PUNCT
fsr-3876	105	45	r	r	X
fsr-3876	105	46	#	#	NOUN
fsr-3876	105	47	i	i	PRON
fsr-3876	105	48	is	be	AUX
fsr-3876	105	49	the	the	DET
fsr-3876	105	50	average	average	ADJ
fsr-3876	105	51	return	return	NOUN
fsr-3876	105	52	on	on	ADP
fsr-3876	105	53	indexi	indexi	NOUN
fsr-3876	105	54	;	;	PUNCT
fsr-3876	105	55	r	r	X
fsr-3876	105	56	#	#	NOUN
fsr-3876	105	57	f	f	NOUN
fsr-3876	105	58	is	be	AUX
fsr-3876	105	59	the	the	DET
fsr-3876	105	60	average	average	ADJ
fsr-3876	105	61	risk	risk	NOUN
fsr-3876	105	62	-	-	PUNCT
fsr-3876	105	63	free	free	ADJ
fsr-3876	105	64	rate	rate	NOUN
fsr-3876	105	65	;	;	PUNCT
fsr-3876	105	66	si	si	X
fsr-3876	105	67	is	be	AUX
fsr-3876	105	68	the	the	DET
fsr-3876	105	69	standard	standard	ADJ
fsr-3876	105	70	deviation	deviation	NOUN
fsr-3876	105	71	of	of	ADP
fsr-3876	105	72	returns	return	NOUN
fsr-3876	105	73	on	on	ADP
fsr-3876	105	74	the	the	DET
fsr-3876	105	75	index	index	NOUN
fsr-3876	105	76	.	.	PUNCT
fsr-3876	106	1	the	the	DET
fsr-3876	106	2	treynor	treynor	NOUN
fsr-3876	106	3	(	(	PUNCT
fsr-3876	106	4	1965	1965	NUM
fsr-3876	106	5	)	)	PUNCT
fsr-3876	106	6	measure	measure	NOUN
fsr-3876	106	7	uses	use	VERB
fsr-3876	106	8	systematic	systematic	ADJ
fsr-3876	106	9	risk	risk	NOUN
fsr-3876	106	10	and	and	CCONJ
fsr-3876	106	11	allows	allow	VERB
fsr-3876	106	12	the	the	DET
fsr-3876	106	13	investor	investor	NOUN
fsr-3876	106	14	to	to	PART
fsr-3876	106	15	compare	compare	VERB
fsr-3876	106	16	the	the	DET
fsr-3876	106	17	individual	individual	ADJ
fsr-3876	106	18	index	index	NOUN
fsr-3876	106	19	returns	return	NOUN
fsr-3876	106	20	to	to	ADP
fsr-3876	106	21	the	the	DET
fsr-3876	106	22	market	market	NOUN
fsr-3876	106	23	return	return	NOUN
fsr-3876	106	24	,	,	PUNCT
fsr-3876	106	25	disregarding	disregard	VERB
fsr-3876	106	26	diversification	diversification	NOUN
fsr-3876	106	27	:	:	PUNCT
fsr-3876	106	28	ti	ti	NOUN
fsr-3876	106	29	5	5	NUM
fsr-3876	106	30	r	r	NOUN
fsr-3876	106	31	#	#	NOUN
fsr-3876	106	32	i	i	NOUN
fsr-3876	106	33	2	2	NUM
fsr-3876	106	34	r	r	NOUN
fsr-3876	106	35	#	#	NOUN
fsr-3876	106	36	f	f	NOUN
fsr-3876	106	37	bi	bi	NOUN
fsr-3876	106	38	(	(	PUNCT
fsr-3876	106	39	2	2	NUM
fsr-3876	106	40	)	)	PUNCT
fsr-3876	106	41	where	where	SCONJ
fsr-3876	106	42	ti	ti	PRON
fsr-3876	106	43	is	be	AUX
fsr-3876	106	44	the	the	DET
fsr-3876	106	45	treynor	treynor	NOUN
fsr-3876	106	46	measure	measure	NOUN
fsr-3876	106	47	for	for	ADP
fsr-3876	106	48	indexi	indexi	NOUN
fsr-3876	106	49	;	;	PUNCT
fsr-3876	106	50	bi	bi	NOUN
fsr-3876	106	51	is	be	AUX
fsr-3876	106	52	the	the	DET
fsr-3876	106	53	beta	beta	NOUN
fsr-3876	106	54	or	or	CCONJ
fsr-3876	106	55	systematic	systematic	ADJ
fsr-3876	106	56	risk	risk	NOUN
fsr-3876	106	57	for	for	ADP
fsr-3876	106	58	indexi	indexi	NOUN
fsr-3876	106	59	.	.	PUNCT
fsr-3876	107	1	for	for	ADP
fsr-3876	107	2	the	the	DET
fsr-3876	107	3	jensen	jensen	PROPN
fsr-3876	107	4	(	(	PUNCT
fsr-3876	107	5	1968	1968	NUM
fsr-3876	107	6	)	)	PUNCT
fsr-3876	107	7	measure	measure	NOUN
fsr-3876	107	8	we	we	PRON
fsr-3876	107	9	regress	regress	ADJ
fsr-3876	107	10	excess	excess	ADJ
fsr-3876	107	11	portfolio	portfolio	NOUN
fsr-3876	107	12	returns	return	NOUN
fsr-3876	107	13	against	against	ADP
fsr-3876	107	14	excess	excess	ADJ
fsr-3876	107	15	domestic	domestic	ADJ
fsr-3876	107	16	market	market	NOUN
fsr-3876	107	17	returns	return	NOUN
fsr-3876	107	18	.	.	PUNCT
fsr-3876	108	1	the	the	DET
fsr-3876	108	2	intercept	intercept	NOUN
fsr-3876	108	3	represents	represent	VERB
fsr-3876	108	4	the	the	DET
fsr-3876	108	5	jensen	jensen	PROPN
fsr-3876	108	6	measure	measure	NOUN
fsr-3876	108	7	.	.	PUNCT
fsr-3876	109	1	when	when	SCONJ
fsr-3876	109	2	the	the	DET
fsr-3876	109	3	intercept	intercept	NOUN
fsr-3876	109	4	is	be	AUX
fsr-3876	109	5	positive	positive	ADJ
fsr-3876	109	6	and	and	CCONJ
fsr-3876	109	7	statistically	statistically	ADV
fsr-3876	109	8	significant	significant	ADJ
fsr-3876	109	9	,	,	PUNCT
fsr-3876	109	10	superior	superior	ADJ
fsr-3876	109	11	performance	performance	NOUN
fsr-3876	109	12	is	be	AUX
fsr-3876	109	13	noted	note	VERB
fsr-3876	109	14	.	.	PUNCT
fsr-3876	110	1	this	this	DET
fsr-3876	110	2	measure	measure	NOUN
fsr-3876	110	3	can	can	AUX
fsr-3876	110	4	also	also	ADV
fsr-3876	110	5	measure	measure	VERB
fsr-3876	110	6	individual	individual	ADJ
fsr-3876	110	7	fund	fund	NOUN
fsr-3876	110	8	performance	performance	NOUN
fsr-3876	110	9	:	:	PUNCT
fsr-3876	110	10	ai	ai	VERB
fsr-3876	110	11	5	5	NUM
fsr-3876	110	12	~r	~r	SYM
fsr-3876	110	13	#	#	NOUN
fsr-3876	110	14	i	i	NOUN
fsr-3876	110	15	2	2	NUM
fsr-3876	110	16	r	r	NOUN
fsr-3876	110	17	#	#	NOUN
fsr-3876	110	18	f	f	NOUN
fsr-3876	110	19	!	!	PROPN
fsr-3876	110	20	2	2	NUM
fsr-3876	110	21	@bi	@bi	X
fsr-3876	110	22	~	~	SYM
fsr-3876	110	23	r	r	SYM
fsr-3876	110	24	#	#	NOUN
fsr-3876	110	25	m	m	NOUN
fsr-3876	110	26	2	2	NUM
fsr-3876	110	27	r	r	NOUN
fsr-3876	110	28	#	#	NOUN
fsr-3876	110	29	f	f	NOUN
fsr-3876	110	30	!	!	PUNCT
fsr-3876	111	1	#	#	NOUN
fsr-3876	111	2	(	(	PUNCT
fsr-3876	111	3	3	3	NUM
fsr-3876	111	4	)	)	PUNCT
fsr-3876	111	5	where	where	SCONJ
fsr-3876	111	6	a	a	PRON
fsr-3876	111	7	is	be	AUX
fsr-3876	111	8	the	the	DET
fsr-3876	111	9	jensen	jensen	PROPN
fsr-3876	111	10	measure	measure	NOUN
fsr-3876	111	11	;	;	PUNCT
fsr-3876	111	12	r	r	X
fsr-3876	111	13	#	#	NOUN
fsr-3876	111	14	m	m	NOUN
fsr-3876	111	15	is	be	AUX
fsr-3876	111	16	the	the	DET
fsr-3876	111	17	average	average	ADJ
fsr-3876	111	18	return	return	NOUN
fsr-3876	111	19	on	on	ADP
fsr-3876	111	20	the	the	DET
fsr-3876	111	21	market	market	NOUN
fsr-3876	111	22	.	.	PUNCT
fsr-3876	112	1	we	we	PRON
fsr-3876	112	2	then	then	ADV
fsr-3876	112	3	ask	ask	VERB
fsr-3876	112	4	,	,	PUNCT
fsr-3876	112	5	are	be	AUX
fsr-3876	112	6	there	there	PRON
fsr-3876	112	7	diversification	diversification	NOUN
fsr-3876	112	8	benefits	benefit	NOUN
fsr-3876	112	9	to	to	ADP
fsr-3876	112	10	investing	invest	VERB
fsr-3876	112	11	in	in	ADP
fsr-3876	112	12	international	international	ADJ
fsr-3876	112	13	index	index	NOUN
fsr-3876	112	14	funds	fund	NOUN
fsr-3876	112	15	?	?	PUNCT
fsr-3876	113	1	to	to	PART
fsr-3876	113	2	answer	answer	VERB
fsr-3876	113	3	this	this	DET
fsr-3876	113	4	question	question	NOUN
fsr-3876	113	5	we	we	PRON
fsr-3876	113	6	examine	examine	VERB
fsr-3876	113	7	the	the	DET
fsr-3876	113	8	correlation	correlation	NOUN
fsr-3876	113	9	of	of	ADP
fsr-3876	113	10	the	the	DET
fsr-3876	113	11	international	international	ADJ
fsr-3876	113	12	index	index	NOUN
fsr-3876	113	13	funds	fund	NOUN
fsr-3876	113	14	with	with	ADP
fsr-3876	113	15	the	the	DET
fsr-3876	113	16	s	s	PROPN
fsr-3876	113	17	&	&	CCONJ
fsr-3876	113	18	p	p	PROPN
fsr-3876	113	19	500	500	NUM
fsr-3876	113	20	.	.	PUNCT
fsr-3876	114	1	we	we	PRON
fsr-3876	114	2	attempt	attempt	VERB
fsr-3876	114	3	to	to	PART
fsr-3876	114	4	answer	answer	VERB
fsr-3876	114	5	the	the	DET
fsr-3876	114	6	following	follow	VERB
fsr-3876	114	7	questions	question	NOUN
fsr-3876	114	8	:	:	PUNCT
fsr-3876	114	9	1	1	X
fsr-3876	114	10	)	)	PUNCT
fsr-3876	114	11	does	do	AUX
fsr-3876	114	12	a	a	DET
fsr-3876	114	13	linear	linear	ADJ
fsr-3876	114	14	relationship	relationship	NOUN
fsr-3876	114	15	exist	exist	VERB
fsr-3876	114	16	between	between	ADP
fsr-3876	114	17	the	the	DET
fsr-3876	114	18	individual	individual	ADJ
fsr-3876	114	19	international	international	ADJ
fsr-3876	114	20	index	index	NOUN
fsr-3876	114	21	returns	return	NOUN
fsr-3876	114	22	and	and	CCONJ
fsr-3876	114	23	the	the	DET
fsr-3876	114	24	s	s	NOUN
fsr-3876	114	25	&	&	CCONJ
fsr-3876	114	26	p	p	PROPN
fsr-3876	114	27	500returns	500returns	PROPN
fsr-3876	114	28	?	?	PUNCT
fsr-3876	114	29	;	;	PUNCT
fsr-3876	114	30	2	2	X
fsr-3876	114	31	)	)	PUNCT
fsr-3876	114	32	does	do	AUX
fsr-3876	114	33	a	a	DET
fsr-3876	114	34	linear	linear	ADJ
fsr-3876	114	35	relationship	relationship	NOUN
fsr-3876	114	36	exist	exist	VERB
fsr-3876	114	37	between	between	ADP
fsr-3876	114	38	the	the	DET
fsr-3876	114	39	returns	return	NOUN
fsr-3876	114	40	on	on	ADP
fsr-3876	114	41	the	the	DET
fsr-3876	114	42	entire	entire	ADJ
fsr-3876	114	43	portfolio	portfolio	NOUN
fsr-3876	114	44	of	of	ADP
fsr-3876	114	45	international	international	ADJ
fsr-3876	114	46	indexes	index	NOUN
fsr-3876	114	47	and	and	CCONJ
fsr-3876	114	48	the	the	DET
fsr-3876	114	49	returns	return	NOUN
fsr-3876	114	50	on	on	ADP
fsr-3876	114	51	the	the	DET
fsr-3876	114	52	s	s	NOUN
fsr-3876	114	53	&	&	CCONJ
fsr-3876	114	54	p	p	NOUN
fsr-3876	114	55	500	500	NUM
fsr-3876	114	56	?	?	PUNCT
fsr-3876	115	1	we	we	PRON
fsr-3876	115	2	use	use	VERB
fsr-3876	115	3	monthly	monthly	ADJ
fsr-3876	115	4	return	return	NOUN
fsr-3876	115	5	data	datum	NOUN
fsr-3876	115	6	from	from	ADP
fsr-3876	115	7	nine	nine	NUM
fsr-3876	115	8	international	international	ADJ
fsr-3876	115	9	indexes	index	NOUN
fsr-3876	115	10	in	in	ADP
fsr-3876	115	11	this	this	DET
fsr-3876	115	12	study	study	NOUN
fsr-3876	115	13	.	.	PUNCT
fsr-3876	116	1	these	these	DET
fsr-3876	116	2	indexes	index	NOUN
fsr-3876	116	3	31s	31s	NUM
fsr-3876	116	4	.	.	PUNCT
fsr-3876	117	1	aiello	aiello	PROPN
fsr-3876	117	2	,	,	PUNCT
fsr-3876	117	3	n.	n.	PROPN
fsr-3876	117	4	chieffe	chieffe	PROPN
fsr-3876	117	5	/	/	SYM
fsr-3876	117	6	financial	financial	ADJ
fsr-3876	117	7	services	service	NOUN
fsr-3876	117	8	review	review	VERB
fsr-3876	117	9	8	8	NUM
fsr-3876	117	10	(	(	PUNCT
fsr-3876	117	11	1999	1999	NUM
fsr-3876	117	12	)	)	PUNCT
fsr-3876	117	13	27–35	27–35	NUM
fsr-3876	117	14	are	be	AUX
fsr-3876	117	15	those	those	PRON
fsr-3876	117	16	which	which	PRON
fsr-3876	117	17	international	international	ADJ
fsr-3876	117	18	index	index	NOUN
fsr-3876	117	19	mutual	mutual	ADJ
fsr-3876	117	20	funds	fund	NOUN
fsr-3876	117	21	would	would	AUX
fsr-3876	117	22	attempt	attempt	VERB
fsr-3876	117	23	to	to	PART
fsr-3876	117	24	match	match	VERB
fsr-3876	117	25	.	.	PUNCT
fsr-3876	118	1	the	the	DET
fsr-3876	118	2	sample	sample	NOUN
fsr-3876	118	3	period	period	NOUN
fsr-3876	118	4	is	be	AUX
fsr-3876	118	5	january	january	PROPN
fsr-3876	118	6	1988	1988	NUM
fsr-3876	118	7	through	through	ADP
fsr-3876	118	8	december	december	PROPN
fsr-3876	118	9	1997	1997	NUM
fsr-3876	118	10	.	.	PUNCT
fsr-3876	119	1	we	we	PRON
fsr-3876	119	2	chose	choose	VERB
fsr-3876	119	3	the	the	DET
fsr-3876	119	4	indexes	index	NOUN
fsr-3876	119	5	on	on	ADP
fsr-3876	119	6	the	the	DET
fsr-3876	119	7	basis	basis	NOUN
fsr-3876	119	8	of	of	ADP
fsr-3876	119	9	region	region	NOUN
fsr-3876	119	10	and	and	CCONJ
fsr-3876	119	11	data	datum	NOUN
fsr-3876	119	12	availability	availability	NOUN
fsr-3876	119	13	.	.	PUNCT
fsr-3876	120	1	the	the	DET
fsr-3876	120	2	indexes	index	NOUN
fsr-3876	120	3	encompass	encompass	VERB
fsr-3876	120	4	every	every	DET
fsr-3876	120	5	region	region	NOUN
fsr-3876	120	6	of	of	ADP
fsr-3876	120	7	the	the	DET
fsr-3876	120	8	world	world	NOUN
fsr-3876	120	9	and	and	CCONJ
fsr-3876	120	10	are	be	AUX
fsr-3876	120	11	formed	form	VERB
fsr-3876	120	12	,	,	PUNCT
fsr-3876	120	13	designed	design	VERB
fsr-3876	120	14	and	and	CCONJ
fsr-3876	120	15	updated	update	VERB
fsr-3876	120	16	by	by	ADP
fsr-3876	120	17	msci	msci	PROPN
fsr-3876	120	18	.	.	PUNCT
fsr-3876	121	1	the	the	DET
fsr-3876	121	2	s	s	PROPN
fsr-3876	121	3	&	&	CCONJ
fsr-3876	121	4	p	p	PROPN
fsr-3876	121	5	500	500	PROPN
fsr-3876	121	6	is	be	AUX
fsr-3876	121	7	thebenchmark	thebenchmark	ADJ
fsr-3876	121	8	u.s	u.s	PROPN
fsr-3876	121	9	.	.	PROPN
fsr-3876	121	10	index	index	NOUN
fsr-3876	121	11	.	.	PUNCT
fsr-3876	122	1	the	the	DET
fsr-3876	122	2	three	three	NUM
fsr-3876	122	3	month	month	NOUN
fsr-3876	122	4	u.s	u.s	PROPN
fsr-3876	122	5	.	.	PROPN
fsr-3876	122	6	treasury	treasury	PROPN
fsr-3876	122	7	bill	bill	PROPN
fsr-3876	122	8	yield	yield	NOUN
fsr-3876	122	9	is	be	AUX
fsr-3876	122	10	the	the	DET
fsr-3876	122	11	risk	risk	NOUN
fsr-3876	122	12	-	-	PUNCT
fsr-3876	122	13	free	free	ADJ
fsr-3876	122	14	rate	rate	NOUN
fsr-3876	122	15	.	.	PUNCT
fsr-3876	123	1	we	we	PRON
fsr-3876	123	2	compute	compute	VERB
fsr-3876	123	3	excess	excess	ADJ
fsr-3876	123	4	returns	return	NOUN
fsr-3876	123	5	from	from	ADP
fsr-3876	123	6	this	this	DET
fsr-3876	123	7	security	security	NOUN
fsr-3876	123	8	.	.	PUNCT
fsr-3876	124	1	4	4	X
fsr-3876	124	2	.	.	X
fsr-3876	124	3	analysis	analysis	NOUN
fsr-3876	124	4	of	of	ADP
fsr-3876	124	5	data	datum	NOUN
fsr-3876	124	6	and	and	CCONJ
fsr-3876	124	7	results	result	NOUN
fsr-3876	124	8	table	table	NOUN
fsr-3876	124	9	1	1	NUM
fsr-3876	124	10	lists	list	VERB
fsr-3876	124	11	the	the	DET
fsr-3876	124	12	risk	risk	NOUN
fsr-3876	124	13	-	-	PUNCT
fsr-3876	124	14	return	return	NOUN
fsr-3876	124	15	data	datum	NOUN
fsr-3876	124	16	for	for	ADP
fsr-3876	124	17	the	the	DET
fsr-3876	124	18	nine	nine	NUM
fsr-3876	124	19	international	international	ADJ
fsr-3876	124	20	indexes	index	NOUN
fsr-3876	124	21	and	and	CCONJ
fsr-3876	124	22	the	the	DET
fsr-3876	124	23	s	s	PROPN
fsr-3876	124	24	&	&	CCONJ
fsr-3876	124	25	p500	p500	PROPN
fsr-3876	124	26	.	.	PUNCT
fsr-3876	125	1	over	over	ADP
fsr-3876	125	2	the	the	DET
fsr-3876	125	3	1988	1988	NUM
fsr-3876	125	4	to	to	ADP
fsr-3876	125	5	1997	1997	NUM
fsr-3876	125	6	period	period	NOUN
fsr-3876	125	7	the	the	DET
fsr-3876	125	8	average	average	ADJ
fsr-3876	125	9	monthly	monthly	ADJ
fsr-3876	125	10	return	return	NOUN
fsr-3876	125	11	on	on	ADP
fsr-3876	125	12	the	the	DET
fsr-3876	125	13	international	international	ADJ
fsr-3876	125	14	indexes	index	NOUN
fsr-3876	125	15	is	be	AUX
fsr-3876	125	16	0.0076	0.0076	NUM
fsr-3876	125	17	or	or	CCONJ
fsr-3876	125	18	0.76	0.76	NUM
fsr-3876	125	19	%	%	NOUN
fsr-3876	125	20	per	per	ADP
fsr-3876	125	21	month	month	NOUN
fsr-3876	125	22	.	.	PUNCT
fsr-3876	126	1	the	the	DET
fsr-3876	126	2	average	average	ADJ
fsr-3876	126	3	monthly	monthly	ADJ
fsr-3876	126	4	return	return	NOUN
fsr-3876	126	5	on	on	ADP
fsr-3876	126	6	the	the	DET
fsr-3876	126	7	s	s	NOUN
fsr-3876	126	8	&	&	CCONJ
fsr-3876	126	9	p	p	PROPN
fsr-3876	126	10	500	500	PROPN
fsr-3876	126	11	is	be	AUX
fsr-3876	126	12	0.0120	0.0120	NUM
fsr-3876	126	13	or	or	CCONJ
fsr-3876	126	14	1.2	1.2	NUM
fsr-3876	126	15	%	%	NOUN
fsr-3876	126	16	.	.	PUNCT
fsr-3876	127	1	of	of	ADP
fsr-3876	127	2	the	the	DET
fsr-3876	127	3	nine	nine	NUM
fsr-3876	127	4	international	international	ADJ
fsr-3876	127	5	indexes	index	NOUN
fsr-3876	127	6	only	only	ADV
fsr-3876	127	7	two	two	NUM
fsr-3876	127	8	return	return	NOUN
fsr-3876	127	9	more	more	ADJ
fsr-3876	127	10	than	than	ADP
fsr-3876	127	11	the	the	DET
fsr-3876	127	12	s	s	PROPN
fsr-3876	127	13	&	&	CCONJ
fsr-3876	127	14	p	p	PROPN
fsr-3876	127	15	500index	500index	PROPN
fsr-3876	127	16	.	.	PUNCT
fsr-3876	128	1	the	the	DET
fsr-3876	128	2	emerging	emerge	VERB
fsr-3876	128	3	markets	market	NOUN
fsr-3876	128	4	global	global	ADJ
fsr-3876	128	5	index	index	NOUN
fsr-3876	128	6	(	(	PUNCT
fsr-3876	128	7	emg	emg	NOUN
fsr-3876	128	8	)	)	PUNCT
fsr-3876	128	9	posts	post	VERB
fsr-3876	128	10	the	the	DET
fsr-3876	128	11	largest	large	ADJ
fsr-3876	128	12	monthly	monthly	ADJ
fsr-3876	128	13	returns	return	NOUN
fsr-3876	128	14	at	at	ADP
fsr-3876	128	15	1.37	1.37	NUM
fsr-3876	128	16	%	%	NOUN
fsr-3876	128	17	and	and	CCONJ
fsr-3876	128	18	the	the	DET
fsr-3876	128	19	pacific	pacific	PROPN
fsr-3876	128	20	index	index	NOUN
fsr-3876	128	21	(	(	PUNCT
fsr-3876	128	22	p	p	NOUN
fsr-3876	128	23	)	)	PUNCT
fsr-3876	128	24	returns	return	VERB
fsr-3876	128	25	the	the	DET
fsr-3876	128	26	smallest	small	ADJ
fsr-3876	128	27	at	at	ADP
fsr-3876	128	28	0.04	0.04	NUM
fsr-3876	128	29	%	%	NOUN
fsr-3876	128	30	.	.	PUNCT
fsr-3876	129	1	the	the	DET
fsr-3876	129	2	lowest	low	ADJ
fsr-3876	129	3	standard	standard	ADJ
fsr-3876	129	4	deviation	deviation	NOUN
fsr-3876	129	5	(	(	PUNCT
fsr-3876	129	6	sd	sd	NOUN
fsr-3876	129	7	)	)	PUNCT
fsr-3876	129	8	of	of	ADP
fsr-3876	129	9	returns	return	NOUN
fsr-3876	129	10	is	be	AUX
fsr-3876	129	11	that	that	PRON
fsr-3876	129	12	of	of	ADP
fsr-3876	129	13	the	the	DET
fsr-3876	129	14	americas	americas	PROPN
fsr-3876	129	15	free	free	PROPN
fsr-3876	129	16	index	index	NOUN
fsr-3876	129	17	(	(	PUNCT
fsr-3876	129	18	af	af	NOUN
fsr-3876	129	19	)	)	PUNCT
fsr-3876	129	20	at	at	ADP
fsr-3876	129	21	0.0345	0.0345	NUM
fsr-3876	129	22	.	.	PUNCT
fsr-3876	130	1	the	the	DET
fsr-3876	130	2	sd	sd	NOUN
fsr-3876	130	3	of	of	ADP
fsr-3876	130	4	returns	return	NOUN
fsr-3876	130	5	on	on	ADP
fsr-3876	130	6	the	the	DET
fsr-3876	130	7	s	s	NOUN
fsr-3876	130	8	&	&	CCONJ
fsr-3876	130	9	p	p	PROPN
fsr-3876	130	10	500	500	PROPN
fsr-3876	130	11	is	be	AUX
fsr-3876	130	12	0.0348	0.0348	NUM
fsr-3876	130	13	.	.	PUNCT
fsr-3876	131	1	the	the	DET
fsr-3876	131	2	index	index	NOUN
fsr-3876	131	3	with	with	ADP
fsr-3876	131	4	the	the	DET
fsr-3876	131	5	greatest	great	ADJ
fsr-3876	131	6	sd	sd	NOUN
fsr-3876	131	7	(	(	PUNCT
fsr-3876	131	8	0.0833	0.0833	NUM
fsr-3876	131	9	)	)	PUNCT
fsr-3876	131	10	is	be	AUX
fsr-3876	131	11	the	the	DET
fsr-3876	131	12	europe	europe	PROPN
fsr-3876	131	13	&	&	CCONJ
fsr-3876	131	14	middle	middle	PROPN
fsr-3876	131	15	east	east	PROPN
fsr-3876	131	16	index	index	NOUN
fsr-3876	131	17	(	(	PUNCT
fsr-3876	131	18	eme	eme	NOUN
fsr-3876	131	19	)	)	PUNCT
fsr-3876	131	20	.	.	PUNCT
fsr-3876	132	1	the	the	DET
fsr-3876	132	2	overall	overall	ADJ
fsr-3876	132	3	average	average	ADJ
fsr-3876	132	4	sd	sd	NOUN
fsr-3876	132	5	of	of	ADP
fsr-3876	132	6	returns	return	NOUN
fsr-3876	132	7	is	be	AUX
fsr-3876	132	8	0.0560	0.0560	NUM
fsr-3876	132	9	.	.	PUNCT
fsr-3876	133	1	the	the	DET
fsr-3876	133	2	investor	investor	NOUN
fsr-3876	133	3	who	who	PRON
fsr-3876	133	4	seeks	seek	VERB
fsr-3876	133	5	the	the	DET
fsr-3876	133	6	lowest	low	ADJ
fsr-3876	133	7	risk	risk	NOUN
fsr-3876	133	8	based	base	VERB
fsr-3876	133	9	on	on	ADP
fsr-3876	133	10	sd	sd	NOUN
fsr-3876	133	11	would	would	AUX
fsr-3876	133	12	consider	consider	VERB
fsr-3876	133	13	thes	the	NOUN
fsr-3876	133	14	&	&	CCONJ
fsr-3876	133	15	p	p	NOUN
fsr-3876	133	16	500	500	NUM
fsr-3876	133	17	or	or	CCONJ
fsr-3876	133	18	the	the	DET
fsr-3876	133	19	af	af	PROPN
fsr-3876	133	20	.	.	PROPN
fsr-3876	133	21	table	table	NOUN
fsr-3876	133	22	2	2	NUM
fsr-3876	133	23	lists	list	NOUN
fsr-3876	133	24	the	the	DET
fsr-3876	133	25	portfolio	portfolio	NOUN
fsr-3876	133	26	performance	performance	NOUN
fsr-3876	133	27	measures	measure	NOUN
fsr-3876	133	28	for	for	ADP
fsr-3876	133	29	the	the	DET
fsr-3876	133	30	indexes	index	NOUN
fsr-3876	133	31	.	.	PUNCT
fsr-3876	134	1	based	base	VERB
fsr-3876	134	2	on	on	ADP
fsr-3876	134	3	the	the	DET
fsr-3876	134	4	sharpe	sharpe	PROPN
fsr-3876	134	5	measure	measure	NOUN
fsr-3876	134	6	,	,	PUNCT
fsr-3876	134	7	or	or	CCONJ
fsr-3876	134	8	full	full	ADJ
fsr-3876	134	9	risk	risk	NOUN
fsr-3876	134	10	of	of	ADP
fsr-3876	134	11	the	the	DET
fsr-3876	134	12	fund	fund	NOUN
fsr-3876	134	13	for	for	ADP
fsr-3876	134	14	each	each	DET
fsr-3876	134	15	index	index	NOUN
fsr-3876	134	16	,	,	PUNCT
fsr-3876	134	17	only	only	ADV
fsr-3876	134	18	af	af	AUX
fsr-3876	134	19	outperformed	outperform	VERB
fsr-3876	134	20	the	the	DET
fsr-3876	134	21	s	s	NOUN
fsr-3876	134	22	&	&	CCONJ
fsr-3876	134	23	p	p	PROPN
fsr-3876	134	24	500	500	NUM
fsr-3876	134	25	.	.	PUNCT
fsr-3876	135	1	but	but	CCONJ
fsr-3876	135	2	af	af	PROPN
fsr-3876	135	3	has	have	VERB
fsr-3876	135	4	an	an	DET
fsr-3876	135	5	s	s	NOUN
fsr-3876	135	6	&	&	CCONJ
fsr-3876	135	7	p	p	PROPN
fsr-3876	135	8	500	500	NUM
fsr-3876	135	9	component	component	NOUN
fsr-3876	135	10	and	and	CCONJ
fsr-3876	135	11	is	be	AUX
fsr-3876	135	12	,	,	PUNCT
fsr-3876	135	13	therefore	therefore	ADV
fsr-3876	135	14	,	,	PUNCT
fsr-3876	135	15	somewhat	somewhat	ADV
fsr-3876	135	16	correlated	correlate	VERB
fsr-3876	135	17	.	.	PUNCT
fsr-3876	136	1	the	the	DET
fsr-3876	136	2	worst	bad	ADJ
fsr-3876	136	3	performer	performer	NOUN
fsr-3876	136	4	is	be	AUX
fsr-3876	136	5	p	p	NOUN
fsr-3876	136	6	with	with	ADP
fsr-3876	136	7	a	a	DET
fsr-3876	136	8	sharpe	sharpe	NOUN
fsr-3876	136	9	measure	measure	NOUN
fsr-3876	136	10	of20.0638	of20.0638	PROPN
fsr-3876	136	11	.	.	PUNCT
fsr-3876	137	1	this	this	DET
fsr-3876	137	2	statistic	statistic	NOUN
fsr-3876	137	3	is	be	AUX
fsr-3876	137	4	much	much	ADV
fsr-3876	137	5	lower	low	ADJ
fsr-3876	137	6	than	than	ADP
fsr-3876	137	7	the	the	DET
fsr-3876	137	8	s	s	PROPN
fsr-3876	137	9	&	&	CCONJ
fsr-3876	137	10	p	p	PROPN
fsr-3876	137	11	500	500	NUM
fsr-3876	137	12	sharpe	sharpe	PROPN
fsr-3876	137	13	measure	measure	NOUN
fsr-3876	137	14	of	of	ADP
fsr-3876	137	15	0.2140	0.2140	NUM
fsr-3876	137	16	.	.	PUNCT
fsr-3876	138	1	we	we	PRON
fsr-3876	138	2	fail	fail	VERB
fsr-3876	138	3	to	to	PART
fsr-3876	138	4	reject	reject	VERB
fsr-3876	138	5	the	the	DET
fsr-3876	138	6	null	null	ADJ
fsr-3876	138	7	hypothesis	hypothesis	NOUN
fsr-3876	138	8	that	that	PRON
fsr-3876	138	9	the	the	DET
fsr-3876	138	10	average	average	ADJ
fsr-3876	138	11	performance	performance	NOUN
fsr-3876	138	12	of	of	ADP
fsr-3876	138	13	international	international	ADJ
fsr-3876	138	14	indexes	index	NOUN
fsr-3876	138	15	is	be	AUX
fsr-3876	138	16	equal	equal	ADJ
fsr-3876	138	17	to	to	ADP
fsr-3876	138	18	or	or	CCONJ
fsr-3876	138	19	less	less	ADJ
fsr-3876	138	20	than	than	ADP
fsr-3876	138	21	that	that	PRON
fsr-3876	138	22	of	of	ADP
fsr-3876	138	23	the	the	DET
fsr-3876	138	24	s	s	PROPN
fsr-3876	138	25	&	&	CCONJ
fsr-3876	138	26	p	p	PROPN
fsr-3876	138	27	500index	500index	PROPN
fsr-3876	138	28	in	in	ADP
fsr-3876	138	29	terms	term	NOUN
fsr-3876	138	30	of	of	ADP
fsr-3876	138	31	the	the	DET
fsr-3876	138	32	sharpe	sharpe	PROPN
fsr-3876	138	33	measure	measure	NOUN
fsr-3876	138	34	(	(	PUNCT
fsr-3876	138	35	excess	excess	ADJ
fsr-3876	138	36	return	return	NOUN
fsr-3876	138	37	to	to	ADP
fsr-3876	138	38	variability	variability	NOUN
fsr-3876	138	39	)	)	PUNCT
fsr-3876	138	40	.	.	PUNCT
fsr-3876	139	1	table	table	NOUN
fsr-3876	139	2	1	1	NUM
fsr-3876	139	3	returns	return	NOUN
fsr-3876	139	4	for	for	ADP
fsr-3876	139	5	international	international	ADJ
fsr-3876	139	6	indexes	index	NOUN
fsr-3876	139	7	and	and	CCONJ
fsr-3876	139	8	s	s	NOUN
fsr-3876	139	9	&	&	CCONJ
fsr-3876	139	10	p	p	PROPN
fsr-3876	139	11	500	500	NUM
fsr-3876	139	12	index	index	NOUN
fsr-3876	139	13	average	average	ADJ
fsr-3876	139	14	monthly	monthly	ADJ
fsr-3876	139	15	return	return	NOUN
fsr-3876	139	16	standard	standard	ADJ
fsr-3876	139	17	deviation	deviation	NOUN
fsr-3876	139	18	developed	develop	VERB
fsr-3876	139	19	markets	market	NOUN
fsr-3876	139	20	standard	standard	ADJ
fsr-3876	139	21	and	and	CCONJ
fsr-3876	139	22	poor	poor	ADJ
fsr-3876	139	23	’s	’s	PART
fsr-3876	139	24	500	500	NUM
fsr-3876	139	25	(	(	PUNCT
fsr-3876	139	26	s	s	X
fsr-3876	139	27	&	&	CCONJ
fsr-3876	139	28	p	p	NOUN
fsr-3876	139	29	500	500	NUM
fsr-3876	139	30	)	)	PUNCT
fsr-3876	139	31	1.20	1.20	NUM
fsr-3876	139	32	%	%	NOUN
fsr-3876	139	33	0.0348	0.0348	NUM
fsr-3876	139	34	europe	europe	PROPN
fsr-3876	139	35	australasia	australasia	PROPN
fsr-3876	139	36	far	far	PROPN
fsr-3876	139	37	east	east	PROPN
fsr-3876	139	38	(	(	PUNCT
fsr-3876	139	39	eafe	eafe	PROPN
fsr-3876	139	40	)	)	PUNCT
fsr-3876	139	41	0.50	0.50	NUM
fsr-3876	139	42	%	%	NOUN
fsr-3876	139	43	0.0496	0.0496	NUM
fsr-3876	139	44	world	world	NOUN
fsr-3876	139	45	ex	ex	PROPN
fsr-3876	139	46	-	-	PROPN
fsr-3876	139	47	u.s	u.s	PROPN
fsr-3876	139	48	.	.	PROPN
fsr-3876	139	49	(	(	PUNCT
fsr-3876	139	50	w	w	PROPN
fsr-3876	139	51	)	)	PUNCT
fsr-3876	139	52	0.50	0.50	NUM
fsr-3876	139	53	%	%	NOUN
fsr-3876	139	54	0.0481	0.0481	NUM
fsr-3876	139	55	pacific	pacific	NOUN
fsr-3876	139	56	(	(	PUNCT
fsr-3876	139	57	p	p	NOUN
fsr-3876	139	58	)	)	PUNCT
fsr-3876	139	59	0.04	0.04	NUM
fsr-3876	139	60	%	%	NOUN
fsr-3876	139	61	0.0662	0.0662	NUM
fsr-3876	139	62	emerging	emerge	VERB
fsr-3876	139	63	markets	market	NOUN
fsr-3876	139	64	europe	europe	PROPN
fsr-3876	139	65	&	&	CCONJ
fsr-3876	139	66	middle	middle	PROPN
fsr-3876	139	67	east	east	PROPN
fsr-3876	139	68	(	(	PUNCT
fsr-3876	139	69	eme	eme	NOUN
fsr-3876	139	70	)	)	PUNCT
fsr-3876	139	71	0.80	0.80	NUM
fsr-3876	139	72	%	%	NOUN
fsr-3876	139	73	0.0833	0.0833	NUM
fsr-3876	139	74	emerging	emerge	VERB
fsr-3876	139	75	markets	market	NOUN
fsr-3876	139	76	free	free	ADJ
fsr-3876	139	77	(	(	PUNCT
fsr-3876	139	78	emf	emf	NOUN
fsr-3876	139	79	)	)	PUNCT
fsr-3876	139	80	1.09	1.09	NUM
fsr-3876	139	81	%	%	NOUN
fsr-3876	139	82	0.0621	0.0621	NUM
fsr-3876	139	83	emerging	emerge	VERB
fsr-3876	139	84	markets	market	NOUN
fsr-3876	139	85	global	global	ADJ
fsr-3876	139	86	(	(	PUNCT
fsr-3876	139	87	emg	emg	NOUN
fsr-3876	139	88	)	)	PUNCT
fsr-3876	139	89	1.37	1.37	NUM
fsr-3876	139	90	%	%	NOUN
fsr-3876	139	91	0.0612	0.0612	NUM
fsr-3876	139	92	combined	combine	VERB
fsr-3876	139	93	markets	market	NOUN
fsr-3876	139	94	americas	america	NOUN
fsr-3876	139	95	free	free	ADJ
fsr-3876	139	96	(	(	PUNCT
fsr-3876	139	97	af	af	NOUN
fsr-3876	139	98	)	)	PUNCT
fsr-3876	139	99	1.21	1.21	NUM
fsr-3876	139	100	%	%	NOUN
fsr-3876	139	101	0.0345	0.0345	NUM
fsr-3876	139	102	ac	ac	PROPN
fsr-3876	139	103	world	world	PROPN
fsr-3876	139	104	ex	ex	PROPN
fsr-3876	139	105	-	-	PROPN
fsr-3876	139	106	u.s	u.s	PROPN
fsr-3876	139	107	.	.	PROPN
fsr-3876	139	108	(	(	PUNCT
fsr-3876	139	109	acw	acw	PROPN
fsr-3876	139	110	)	)	PUNCT
fsr-3876	139	111	0.50	0.50	NUM
fsr-3876	139	112	%	%	NOUN
fsr-3876	139	113	0.0466	0.0466	NUM
fsr-3876	139	114	asia	asia	PROPN
fsr-3876	139	115	pacific	pacific	PROPN
fsr-3876	139	116	ex	ex	PROPN
fsr-3876	139	117	-	-	PROPN
fsr-3876	139	118	japan	japan	PROPN
fsr-3876	139	119	(	(	PUNCT
fsr-3876	139	120	ap	ap	PROPN
fsr-3876	139	121	)	)	PUNCT
fsr-3876	139	122	0.80	0.80	NUM
fsr-3876	139	123	%	%	NOUN
fsr-3876	139	124	0.0520	0.0520	NUM
fsr-3876	139	125	average	average	ADJ
fsr-3876	139	126	international	international	NOUN
fsr-3876	139	127	(	(	PUNCT
fsr-3876	139	128	without	without	ADP
fsr-3876	139	129	s	s	PROPN
fsr-3876	139	130	&	&	CCONJ
fsr-3876	139	131	p	p	NOUN
fsr-3876	139	132	500	500	NUM
fsr-3876	139	133	)	)	PUNCT
fsr-3876	139	134	0.76	0.76	NUM
fsr-3876	139	135	%	%	NOUN
fsr-3876	139	136	0.0042	0.0042	NUM
fsr-3876	139	137	32	32	NUM
fsr-3876	139	138	s.	s.	PROPN
fsr-3876	139	139	aiello	aiello	PROPN
fsr-3876	139	140	,	,	PUNCT
fsr-3876	139	141	n.	n.	PROPN
fsr-3876	139	142	chieffe	chieffe	ADJ
fsr-3876	139	143	/	/	SYM
fsr-3876	139	144	financial	financial	ADJ
fsr-3876	139	145	services	service	NOUN
fsr-3876	139	146	review	review	VERB
fsr-3876	139	147	8	8	NUM
fsr-3876	139	148	(	(	PUNCT
fsr-3876	139	149	1999	1999	NUM
fsr-3876	139	150	)	)	PUNCT
fsr-3876	139	151	27–35	27–35	NUM
fsr-3876	139	152	on	on	ADP
fsr-3876	139	153	the	the	DET
fsr-3876	139	154	basis	basis	NOUN
fsr-3876	139	155	of	of	ADP
fsr-3876	139	156	the	the	DET
fsr-3876	139	157	treynor	treynor	NOUN
fsr-3876	139	158	measure	measure	VERB
fsr-3876	139	159	four	four	NUM
fsr-3876	139	160	indexes	index	NOUN
fsr-3876	139	161	,	,	PUNCT
fsr-3876	139	162	eme	eme	NOUN
fsr-3876	139	163	,	,	PUNCT
fsr-3876	139	164	af	af	PROPN
fsr-3876	139	165	,	,	PUNCT
fsr-3876	139	166	emerging	emerge	VERB
fsr-3876	139	167	markets	market	NOUN
fsr-3876	139	168	free	free	ADJ
fsr-3876	139	169	(	(	PUNCT
fsr-3876	139	170	emf	emf	NOUN
fsr-3876	139	171	)	)	PUNCT
fsr-3876	139	172	,	,	PUNCT
fsr-3876	139	173	and	and	CCONJ
fsr-3876	139	174	emg	emg	NOUN
fsr-3876	139	175	,	,	PUNCT
fsr-3876	139	176	outperform	outperform	VERB
fsr-3876	139	177	the	the	DET
fsr-3876	139	178	s	s	NOUN
fsr-3876	139	179	&	&	CCONJ
fsr-3876	139	180	p	p	PROPN
fsr-3876	139	181	500	500	NUM
fsr-3876	139	182	.	.	PUNCT
fsr-3876	140	1	however	however	ADV
fsr-3876	140	2	,	,	PUNCT
fsr-3876	140	3	the	the	DET
fsr-3876	140	4	average	average	ADJ
fsr-3876	140	5	index	index	NOUN
fsr-3876	140	6	has	have	VERB
fsr-3876	140	7	a	a	DET
fsr-3876	140	8	0.0050	0.0050	NUM
fsr-3876	140	9	treynor	treynor	NOUN
fsr-3876	140	10	measure	measure	NOUN
fsr-3876	140	11	,	,	PUNCT
fsr-3876	140	12	lower	low	ADJ
fsr-3876	140	13	than	than	ADP
fsr-3876	140	14	the	the	DET
fsr-3876	140	15	s	s	PROPN
fsr-3876	140	16	&	&	CCONJ
fsr-3876	140	17	p	p	PROPN
fsr-3876	140	18	500treynor	500treynor	PROPN
fsr-3876	140	19	measure	measure	NOUN
fsr-3876	140	20	of	of	ADP
fsr-3876	140	21	0.0074	0.0074	NUM
fsr-3876	140	22	.	.	PUNCT
fsr-3876	141	1	we	we	PRON
fsr-3876	141	2	fail	fail	VERB
fsr-3876	141	3	to	to	PART
fsr-3876	141	4	reject	reject	VERB
fsr-3876	141	5	the	the	DET
fsr-3876	141	6	null	null	ADJ
fsr-3876	141	7	hypothesis	hypothesis	NOUN
fsr-3876	141	8	that	that	PRON
fsr-3876	141	9	the	the	DET
fsr-3876	141	10	average	average	ADJ
fsr-3876	141	11	performance	performance	NOUN
fsr-3876	141	12	of	of	ADP
fsr-3876	141	13	international	international	ADJ
fsr-3876	141	14	indexes	index	NOUN
fsr-3876	141	15	is	be	AUX
fsr-3876	141	16	equal	equal	ADJ
fsr-3876	141	17	to	to	ADP
fsr-3876	141	18	or	or	CCONJ
fsr-3876	141	19	less	less	ADJ
fsr-3876	141	20	than	than	ADP
fsr-3876	141	21	that	that	PRON
fsr-3876	141	22	of	of	ADP
fsr-3876	141	23	the	the	DET
fsr-3876	141	24	s	s	PROPN
fsr-3876	141	25	&	&	CCONJ
fsr-3876	141	26	p	p	PROPN
fsr-3876	141	27	500index	500index	PROPN
fsr-3876	141	28	in	in	ADP
fsr-3876	141	29	terms	term	NOUN
fsr-3876	141	30	of	of	ADP
fsr-3876	141	31	the	the	DET
fsr-3876	141	32	treynor	treynor	NOUN
fsr-3876	141	33	measure	measure	NOUN
fsr-3876	141	34	(	(	PUNCT
fsr-3876	141	35	excess	excess	ADJ
fsr-3876	141	36	returns	return	NOUN
fsr-3876	141	37	to	to	ADP
fsr-3876	141	38	nondiversifiable	nondiversifiable	ADJ
fsr-3876	141	39	risk	risk	NOUN
fsr-3876	141	40	)	)	PUNCT
fsr-3876	141	41	.	.	PUNCT
fsr-3876	142	1	however	however	ADV
fsr-3876	142	2	,	,	PUNCT
fsr-3876	142	3	four	four	NUM
fsr-3876	142	4	individual	individual	ADJ
fsr-3876	142	5	indexes	index	NOUN
fsr-3876	142	6	outperform	outperform	VERB
fsr-3876	142	7	the	the	DET
fsr-3876	142	8	s	s	NOUN
fsr-3876	142	9	&	&	CCONJ
fsr-3876	142	10	p	p	PROPN
fsr-3876	142	11	500	500	NUM
fsr-3876	142	12	.	.	PUNCT
fsr-3876	143	1	the	the	DET
fsr-3876	143	2	results	result	NOUN
fsr-3876	143	3	of	of	ADP
fsr-3876	143	4	the	the	DET
fsr-3876	143	5	jensen	jensen	PROPN
fsr-3876	143	6	measure	measure	NOUN
fsr-3876	143	7	of	of	ADP
fsr-3876	143	8	abnormal	abnormal	ADJ
fsr-3876	143	9	performance	performance	NOUN
fsr-3876	143	10	are	be	AUX
fsr-3876	143	11	very	very	ADV
fsr-3876	143	12	similar	similar	ADJ
fsr-3876	143	13	to	to	ADP
fsr-3876	143	14	those	those	PRON
fsr-3876	143	15	of	of	ADP
fsr-3876	143	16	the	the	DET
fsr-3876	143	17	treynor	treynor	NOUN
fsr-3876	143	18	measure	measure	NOUN
fsr-3876	143	19	.	.	PUNCT
fsr-3876	144	1	af	af	PROPN
fsr-3876	144	2	and	and	CCONJ
fsr-3876	144	3	the	the	DET
fsr-3876	144	4	emerging	emerge	VERB
fsr-3876	144	5	markets	market	NOUN
fsr-3876	144	6	indexes	index	NOUN
fsr-3876	144	7	,	,	PUNCT
fsr-3876	144	8	eme	eme	NOUN
fsr-3876	144	9	,	,	PUNCT
fsr-3876	144	10	emf	emf	NOUN
fsr-3876	144	11	,	,	PUNCT
fsr-3876	144	12	emg	emg	NOUN
fsr-3876	144	13	,	,	PUNCT
fsr-3876	144	14	outperform	outperform	VERB
fsr-3876	144	15	the	the	DET
fsr-3876	144	16	s	s	NOUN
fsr-3876	144	17	&	&	CCONJ
fsr-3876	144	18	p	p	NOUN
fsr-3876	144	19	500	500	NUM
fsr-3876	144	20	interms	interm	NOUN
fsr-3876	144	21	of	of	ADP
fsr-3876	144	22	the	the	DET
fsr-3876	144	23	jensen	jensen	PROPN
fsr-3876	144	24	measure	measure	NOUN
fsr-3876	144	25	.	.	PUNCT
fsr-3876	145	1	the	the	DET
fsr-3876	145	2	s	s	PROPN
fsr-3876	145	3	&	&	CCONJ
fsr-3876	145	4	p	p	PROPN
fsr-3876	145	5	500outperforms	500outperforms	PROPN
fsr-3876	145	6	the	the	DET
fsr-3876	145	7	average	average	NOUN
fsr-3876	145	8	of	of	ADP
fsr-3876	145	9	the	the	DET
fsr-3876	145	10	international	international	ADJ
fsr-3876	145	11	indexes	index	NOUN
fsr-3876	145	12	which	which	PRON
fsr-3876	145	13	was	be	AUX
fsr-3876	145	14	only	only	ADV
fsr-3876	145	15	1.2692	1.2692	NUM
fsr-3876	145	16	.	.	PUNCT
fsr-3876	146	1	we	we	PRON
fsr-3876	146	2	fail	fail	VERB
fsr-3876	146	3	to	to	PART
fsr-3876	146	4	reject	reject	VERB
fsr-3876	146	5	the	the	DET
fsr-3876	146	6	null	null	ADJ
fsr-3876	146	7	hypothesis	hypothesis	NOUN
fsr-3876	146	8	that	that	PRON
fsr-3876	146	9	the	the	DET
fsr-3876	146	10	average	average	ADJ
fsr-3876	146	11	performance	performance	NOUN
fsr-3876	146	12	of	of	ADP
fsr-3876	146	13	international	international	ADJ
fsr-3876	146	14	indexes	index	NOUN
fsr-3876	146	15	is	be	AUX
fsr-3876	146	16	equal	equal	ADJ
fsr-3876	146	17	to	to	ADP
fsr-3876	146	18	or	or	CCONJ
fsr-3876	146	19	less	less	ADJ
fsr-3876	146	20	than	than	ADP
fsr-3876	146	21	that	that	PRON
fsr-3876	146	22	of	of	ADP
fsr-3876	146	23	the	the	DET
fsr-3876	146	24	s	s	PROPN
fsr-3876	146	25	&	&	CCONJ
fsr-3876	146	26	p	p	PROPN
fsr-3876	146	27	500	500	NUM
fsr-3876	146	28	index	index	NOUN
fsr-3876	146	29	in	in	ADP
fsr-3876	146	30	terms	term	NOUN
fsr-3876	146	31	of	of	ADP
fsr-3876	146	32	the	the	DET
fsr-3876	146	33	jensen	jensen	PROPN
fsr-3876	146	34	measure	measure	NOUN
fsr-3876	146	35	.	.	PUNCT
fsr-3876	147	1	however	however	ADV
fsr-3876	147	2	,	,	PUNCT
fsr-3876	147	3	when	when	SCONJ
fsr-3876	147	4	we	we	PRON
fsr-3876	147	5	test	test	VERB
fsr-3876	147	6	individual	individual	ADJ
fsr-3876	147	7	indexes	index	NOUN
fsr-3876	147	8	against	against	ADP
fsr-3876	147	9	the	the	DET
fsr-3876	147	10	s	s	PROPN
fsr-3876	147	11	&	&	CCONJ
fsr-3876	147	12	p	p	NOUN
fsr-3876	147	13	500	500	NUM
fsr-3876	147	14	,	,	PUNCT
fsr-3876	147	15	three	three	NUM
fsr-3876	147	16	emerging	emerge	VERB
fsr-3876	147	17	market	market	NOUN
fsr-3876	147	18	indexes	index	NOUN
fsr-3876	147	19	outperform	outperform	VERB
fsr-3876	147	20	the	the	DET
fsr-3876	147	21	domestic	domestic	ADJ
fsr-3876	147	22	benchmark	benchmark	NOUN
fsr-3876	147	23	:	:	PUNCT
fsr-3876	147	24	the	the	DET
fsr-3876	147	25	emg	emg	NOUN
fsr-3876	147	26	,	,	PUNCT
fsr-3876	147	27	emf	emf	NOUN
fsr-3876	147	28	,	,	PUNCT
fsr-3876	147	29	and	and	CCONJ
fsr-3876	147	30	eme	eme	NOUN
fsr-3876	147	31	indexes	index	NOUN
fsr-3876	147	32	.	.	PUNCT
fsr-3876	148	1	these	these	DET
fsr-3876	148	2	results	result	NOUN
fsr-3876	148	3	agree	agree	VERB
fsr-3876	148	4	with	with	ADP
fsr-3876	148	5	sinquefield	sinquefield	PROPN
fsr-3876	148	6	(	(	PUNCT
fsr-3876	148	7	1996	1996	NUM
fsr-3876	148	8	)	)	PUNCT
fsr-3876	148	9	who	who	PRON
fsr-3876	148	10	found	find	VERB
fsr-3876	148	11	that	that	SCONJ
fsr-3876	148	12	investing	invest	VERB
fsr-3876	148	13	in	in	ADP
fsr-3876	148	14	eafe	eafe	ADJ
fsr-3876	148	15	and	and	CCONJ
fsr-3876	148	16	similar	similar	ADJ
fsr-3876	148	17	indexes	index	NOUN
fsr-3876	148	18	does	do	AUX
fsr-3876	148	19	not	not	PART
fsr-3876	148	20	diversify	diversify	VERB
fsr-3876	148	21	a	a	DET
fsr-3876	148	22	u.s	u.s	PROPN
fsr-3876	148	23	.	.	PROPN
fsr-3876	148	24	portfolio	portfolio	NOUN
fsr-3876	148	25	.	.	PUNCT
fsr-3876	149	1	table	table	NOUN
fsr-3876	149	2	3	3	NUM
fsr-3876	149	3	lists	list	VERB
fsr-3876	149	4	the	the	DET
fsr-3876	149	5	results	result	NOUN
fsr-3876	149	6	of	of	ADP
fsr-3876	149	7	the	the	DET
fsr-3876	149	8	regression	regression	NOUN
fsr-3876	149	9	of	of	ADP
fsr-3876	149	10	the	the	DET
fsr-3876	149	11	international	international	ADJ
fsr-3876	149	12	indexes	index	NOUN
fsr-3876	149	13	on	on	ADP
fsr-3876	149	14	the	the	DET
fsr-3876	149	15	s	s	PROPN
fsr-3876	149	16	&	&	CCONJ
fsr-3876	149	17	p500	p500	PROPN
fsr-3876	149	18	:	:	PUNCT
fsr-3876	149	19	esp5005	esp5005	VERB
fsr-3876	149	20	a	a	DET
fsr-3876	149	21	1	1	NUM
fsr-3876	149	22	eap	eap	NOUN
fsr-3876	149	23	1	1	NUM
fsr-3876	149	24	eeme	eeme	NOUN
fsr-3876	149	25	1	1	NUM
fsr-3876	149	26	eacw1	eacw1	PROPN
fsr-3876	149	27	eeafe1	eeafe1	NOUN
fsr-3876	150	1	ew	ew	PROPN
fsr-3876	150	2	1	1	NUM
fsr-3876	150	3	ep	ep	PROPN
fsr-3876	150	4	1	1	NUM
fsr-3876	150	5	eemg	eemg	NOUN
fsr-3876	150	6	1	1	NUM
fsr-3876	150	7	eemf	eemf	X
fsr-3876	150	8	1	1	NUM
fsr-3876	150	9	«	«	PUNCT
fsr-3876	150	10	(	(	PUNCT
fsr-3876	150	11	4	4	X
fsr-3876	150	12	)	)	PUNCT
fsr-3876	150	13	wheree	wheree	NOUN
fsr-3876	150	14	is	be	AUX
fsr-3876	150	15	the	the	DET
fsr-3876	150	16	excess	excess	ADJ
fsr-3876	150	17	returns	return	NOUN
fsr-3876	150	18	(	(	PUNCT
fsr-3876	150	19	monthly	monthly	ADJ
fsr-3876	150	20	index	index	NOUN
fsr-3876	150	21	return2	return2	NOUN
fsr-3876	150	22	monthly	monthly	ADJ
fsr-3876	150	23	t	t	PROPN
fsr-3876	150	24	-	-	PUNCT
fsr-3876	150	25	bill	bill	NOUN
fsr-3876	150	26	return	return	NOUN
fsr-3876	150	27	)	)	PUNCT
fsr-3876	150	28	.	.	PUNCT
fsr-3876	151	1	we	we	PRON
fsr-3876	151	2	eliminated	eliminate	VERB
fsr-3876	151	3	af	af	PROPN
fsr-3876	151	4	as	as	ADP
fsr-3876	151	5	an	an	DET
fsr-3876	151	6	independent	independent	ADJ
fsr-3876	151	7	variable	variable	NOUN
fsr-3876	151	8	because	because	SCONJ
fsr-3876	151	9	it	it	PRON
fsr-3876	151	10	is	be	AUX
fsr-3876	151	11	highly	highly	ADV
fsr-3876	151	12	correlated	correlate	VERB
fsr-3876	151	13	to	to	ADP
fsr-3876	151	14	the	the	DET
fsr-3876	151	15	dependent	dependent	ADJ
fsr-3876	151	16	variable	variable	NOUN
fsr-3876	151	17	.	.	PUNCT
fsr-3876	152	1	the	the	DET
fsr-3876	152	2	variation	variation	NOUN
fsr-3876	152	3	in	in	ADP
fsr-3876	152	4	eafe	eafe	PROPN
fsr-3876	152	5	,	,	PUNCT
fsr-3876	152	6	w	w	PROPN
fsr-3876	152	7	(	(	PUNCT
fsr-3876	152	8	world	world	NOUN
fsr-3876	152	9	ex	ex	PROPN
fsr-3876	152	10	-	-	PROPN
fsr-3876	152	11	us	we	PRON
fsr-3876	152	12	)	)	PUNCT
fsr-3876	152	13	,	,	PUNCT
fsr-3876	152	14	p	p	X
fsr-3876	152	15	,	,	PUNCT
fsr-3876	152	16	and	and	CCONJ
fsr-3876	152	17	emf	emf	NOUN
fsr-3876	152	18	significantly	significantly	ADV
fsr-3876	152	19	explains	explain	VERB
fsr-3876	152	20	some	some	DET
fsr-3876	152	21	variation	variation	NOUN
fsr-3876	152	22	in	in	ADP
fsr-3876	152	23	the	the	DET
fsr-3876	152	24	s	s	PROPN
fsr-3876	152	25	&	&	CCONJ
fsr-3876	152	26	p	p	PROPN
fsr-3876	152	27	500index	500index	PROPN
fsr-3876	152	28	.	.	PUNCT
fsr-3876	153	1	eafe	eafe	PROPN
fsr-3876	153	2	and	and	CCONJ
fsr-3876	153	3	p	p	NOUN
fsr-3876	153	4	are	be	AUX
fsr-3876	153	5	negatively	negatively	ADV
fsr-3876	153	6	correlated	correlate	VERB
fsr-3876	153	7	to	to	ADP
fsr-3876	153	8	the	the	DET
fsr-3876	153	9	s	s	PROPN
fsr-3876	153	10	&	&	CCONJ
fsr-3876	153	11	p	p	NOUN
fsr-3876	153	12	500	500	NUM
fsr-3876	153	13	;	;	PUNCT
fsr-3876	153	14	w	w	NOUN
fsr-3876	153	15	and	and	CCONJ
fsr-3876	153	16	emf	emf	NOUN
fsr-3876	153	17	are	be	AUX
fsr-3876	153	18	positively	positively	ADV
fsr-3876	153	19	correlated	correlate	VERB
fsr-3876	153	20	to	to	ADP
fsr-3876	153	21	the	the	DET
fsr-3876	153	22	s	s	PROPN
fsr-3876	153	23	&	&	CCONJ
fsr-3876	153	24	p	p	PROPN
fsr-3876	154	1	500	500	NUM
fsr-3876	154	2	.	.	PUNCT
fsr-3876	154	3	table	table	NOUN
fsr-3876	154	4	4	4	NUM
fsr-3876	154	5	lists	list	VERB
fsr-3876	154	6	the	the	DET
fsr-3876	154	7	results	result	NOUN
fsr-3876	154	8	of	of	ADP
fsr-3876	154	9	nine	nine	NUM
fsr-3876	154	10	regressions	regression	NOUN
fsr-3876	154	11	of	of	ADP
fsr-3876	154	12	the	the	DET
fsr-3876	154	13	individual	individual	ADJ
fsr-3876	154	14	international	international	ADJ
fsr-3876	154	15	indexes	index	NOUN
fsr-3876	154	16	on	on	ADP
fsr-3876	154	17	the	the	DET
fsr-3876	154	18	s	s	NOUN
fsr-3876	154	19	&	&	CCONJ
fsr-3876	154	20	p	p	NOUN
fsr-3876	154	21	500	500	NUM
fsr-3876	154	22	:	:	PUNCT
fsr-3876	154	23	esp5005	esp5005	VERB
fsr-3876	154	24	a	a	DET
fsr-3876	154	25	1	1	NUM
fsr-3876	154	26	ei	ei	NOUN
fsr-3876	154	27	1	1	NUM
fsr-3876	154	28	«	«	PUNCT
fsr-3876	154	29	(	(	PUNCT
fsr-3876	154	30	5	5	NUM
fsr-3876	154	31	)	)	PUNCT
fsr-3876	155	1	wherei	wherei	ADV
fsr-3876	155	2	is	be	AUX
fsr-3876	155	3	one	one	NUM
fsr-3876	155	4	of	of	ADP
fsr-3876	155	5	the	the	DET
fsr-3876	155	6	international	international	ADJ
fsr-3876	155	7	indexes	index	NOUN
fsr-3876	155	8	.	.	PUNCT
fsr-3876	156	1	table	table	NOUN
fsr-3876	156	2	2	2	NUM
fsr-3876	156	3	performance	performance	NOUN
fsr-3876	156	4	measures	measure	NOUN
fsr-3876	156	5	for	for	ADP
fsr-3876	156	6	international	international	ADJ
fsr-3876	156	7	indexes	index	NOUN
fsr-3876	156	8	and	and	CCONJ
fsr-3876	156	9	s	s	NOUN
fsr-3876	156	10	&	&	CCONJ
fsr-3876	156	11	p	p	PROPN
fsr-3876	156	12	500	500	NUM
fsr-3876	156	13	index	index	NOUN
fsr-3876	156	14	sharpe	sharpe	PROPN
fsr-3876	156	15	treynor	treynor	PROPN
fsr-3876	156	16	jensen	jensen	PROPN
fsr-3876	156	17	rank	rank	PROPN
fsr-3876	156	18	rank	rank	PROPN
fsr-3876	156	19	rank	rank	PROPN
fsr-3876	156	20	s	s	PROPN
fsr-3876	156	21	&	&	CCONJ
fsr-3876	156	22	p	p	NOUN
fsr-3876	157	1	500	500	NUM
fsr-3876	157	2	0.21	0.21	NUM
fsr-3876	157	3	2	2	NUM
fsr-3876	157	4	0.01	0.01	NUM
fsr-3876	157	5	4	4	NUM
fsr-3876	157	6	1.89	1.89	NUM
fsr-3876	157	7	5	5	NUM
fsr-3876	157	8	ap	ap	NOUN
fsr-3876	157	9	0.07	0.07	NUM
fsr-3876	157	10	5	5	NUM
fsr-3876	157	11	0.00	0.00	NUM
fsr-3876	157	12	6	6	NUM
fsr-3876	157	13	1.13	1.13	NUM
fsr-3876	157	14	6	6	NUM
fsr-3876	157	15	eme	eme	NOUN
fsr-3876	157	16	0.04	0.04	NUM
fsr-3876	157	17	6	6	NUM
fsr-3876	157	18	0.01	0.01	NUM
fsr-3876	157	19	1	1	NUM
fsr-3876	157	20	3.71	3.71	NUM
fsr-3876	157	21	1	1	NUM
fsr-3876	157	22	af	af	PROPN
fsr-3876	157	23	0.22	0.22	NUM
fsr-3876	157	24	1	1	NUM
fsr-3876	157	25	0.01	0.01	NUM
fsr-3876	157	26	5	5	NUM
fsr-3876	157	27	1.92	1.92	NUM
fsr-3876	157	28	4	4	NUM
fsr-3876	157	29	acw	acw	NOUN
fsr-3876	157	30	0.01	0.01	NUM
fsr-3876	157	31	7	7	NUM
fsr-3876	157	32	0.00	0.00	NUM
fsr-3876	157	33	7	7	NUM
fsr-3876	157	34	0.17	0.17	NUM
fsr-3876	157	35	7	7	NUM
fsr-3876	157	36	eafe	eafe	ADJ
fsr-3876	157	37	0.01	0.01	NUM
fsr-3876	157	38	9	9	NUM
fsr-3876	157	39	0.00	0.00	NUM
fsr-3876	157	40	9	9	NUM
fsr-3876	157	41	0.15	0.15	NUM
fsr-3876	157	42	8	8	NUM
fsr-3876	157	43	w	w	NOUN
fsr-3876	157	44	0.01	0.01	NUM
fsr-3876	157	45	8	8	NUM
fsr-3876	157	46	0.00	0.00	NUM
fsr-3876	157	47	8	8	NUM
fsr-3876	157	48	0.14	0.14	NUM
fsr-3876	157	49	9	9	NUM
fsr-3876	157	50	p	p	NOUN
fsr-3876	157	51	20.06	20.06	NUM
fsr-3876	157	52	10	10	NUM
fsr-3876	157	53	20.01	20.01	NUM
fsr-3876	157	54	10	10	NUM
fsr-3876	157	55	21.85	21.85	NUM
fsr-3876	157	56	10	10	NUM
fsr-3876	157	57	emf	emf	NOUN
fsr-3876	157	58	0.10	0.10	NUM
fsr-3876	157	59	4	4	NUM
fsr-3876	157	60	0.01	0.01	NUM
fsr-3876	157	61	3	3	NUM
fsr-3876	157	62	2.89	2.89	NUM
fsr-3876	157	63	3	3	NUM
fsr-3876	157	64	emg	emg	NOUN
fsr-3876	157	65	0.15	0.15	NUM
fsr-3876	157	66	3	3	NUM
fsr-3876	157	67	0.01	0.01	NUM
fsr-3876	157	68	2	2	NUM
fsr-3876	157	69	3.19	3.19	NUM
fsr-3876	157	70	2	2	NUM
fsr-3876	157	71	average	average	NOUN
fsr-3876	157	72	international	international	ADJ
fsr-3876	157	73	0.06	0.06	NUM
fsr-3876	157	74	0.01	0.01	NUM
fsr-3876	157	75	1.27	1.27	NUM
fsr-3876	157	76	33s	33s	NUM
fsr-3876	157	77	.	.	PUNCT
fsr-3876	158	1	aiello	aiello	PROPN
fsr-3876	158	2	,	,	PUNCT
fsr-3876	158	3	n.	n.	PROPN
fsr-3876	158	4	chieffe	chieffe	PROPN
fsr-3876	158	5	/	/	SYM
fsr-3876	158	6	financial	financial	ADJ
fsr-3876	158	7	services	service	NOUN
fsr-3876	158	8	review	review	VERB
fsr-3876	158	9	8	8	NUM
fsr-3876	158	10	(	(	PUNCT
fsr-3876	158	11	1999	1999	NUM
fsr-3876	158	12	)	)	PUNCT
fsr-3876	158	13	27–35	27–35	NUM
fsr-3876	158	14	the	the	DET
fsr-3876	158	15	regression	regression	NOUN
fsr-3876	158	16	of	of	ADP
fsr-3876	158	17	af	af	PROPN
fsr-3876	158	18	indicates	indicate	VERB
fsr-3876	158	19	a	a	DET
fsr-3876	158	20	high	high	ADJ
fsr-3876	158	21	degree	degree	NOUN
fsr-3876	158	22	of	of	ADP
fsr-3876	158	23	correlation	correlation	NOUN
fsr-3876	158	24	;	;	PUNCT
fsr-3876	158	25	the	the	DET
fsr-3876	158	26	others	other	NOUN
fsr-3876	158	27	explain	explain	VERB
fsr-3876	158	28	only	only	ADV
fsr-3876	158	29	a	a	DET
fsr-3876	158	30	small	small	ADJ
fsr-3876	158	31	portion	portion	NOUN
fsr-3876	158	32	of	of	ADP
fsr-3876	158	33	the	the	DET
fsr-3876	158	34	variation	variation	NOUN
fsr-3876	158	35	in	in	ADP
fsr-3876	158	36	the	the	DET
fsr-3876	158	37	s	s	NOUN
fsr-3876	158	38	&	&	CCONJ
fsr-3876	158	39	p	p	PROPN
fsr-3876	158	40	500	500	NUM
fsr-3876	158	41	.	.	PUNCT
fsr-3876	159	1	clearly	clearly	ADV
fsr-3876	159	2	,	,	PUNCT
fsr-3876	159	3	diversification	diversification	NOUN
fsr-3876	159	4	potential	potential	NOUN
fsr-3876	159	5	exists	exist	VERB
fsr-3876	159	6	when	when	SCONJ
fsr-3876	159	7	investing	invest	VERB
fsr-3876	159	8	internationally	internationally	ADV
fsr-3876	159	9	.	.	PUNCT
fsr-3876	160	1	the	the	DET
fsr-3876	160	2	variation	variation	NOUN
fsr-3876	160	3	in	in	ADP
fsr-3876	160	4	the	the	DET
fsr-3876	160	5	above	above	ADJ
fsr-3876	160	6	indexes	index	NOUN
fsr-3876	160	7	explains	explain	VERB
fsr-3876	160	8	between	between	ADP
fsr-3876	160	9	0.31	0.31	NUM
fsr-3876	160	10	%	%	NOUN
fsr-3876	160	11	and	and	CCONJ
fsr-3876	160	12	94	94	NUM
fsr-3876	160	13	%	%	NOUN
fsr-3876	160	14	of	of	ADP
fsr-3876	160	15	the	the	DET
fsr-3876	160	16	variation	variation	NOUN
fsr-3876	160	17	in	in	ADP
fsr-3876	160	18	the	the	DET
fsr-3876	160	19	s	s	NOUN
fsr-3876	160	20	&	&	CCONJ
fsr-3876	160	21	p	p	PROPN
fsr-3876	160	22	500	500	NUM
fsr-3876	160	23	.	.	PUNCT
fsr-3876	161	1	this	this	PRON
fsr-3876	161	2	shows	show	VERB
fsr-3876	161	3	that	that	SCONJ
fsr-3876	161	4	one	one	PRON
fsr-3876	161	5	can	can	AUX
fsr-3876	161	6	diversify	diversify	VERB
fsr-3876	161	7	with	with	ADP
fsr-3876	161	8	many	many	ADJ
fsr-3876	161	9	of	of	ADP
fsr-3876	161	10	the	the	DET
fsr-3876	161	11	indexes	index	NOUN
fsr-3876	161	12	.	.	PUNCT
fsr-3876	162	1	selecting	select	VERB
fsr-3876	162	2	a	a	DET
fsr-3876	162	3	fund	fund	NOUN
fsr-3876	162	4	that	that	PRON
fsr-3876	162	5	is	be	AUX
fsr-3876	162	6	based	base	VERB
fsr-3876	162	7	on	on	ADP
fsr-3876	162	8	an	an	DET
fsr-3876	162	9	index	index	NOUN
fsr-3876	162	10	that	that	PRON
fsr-3876	162	11	has	have	VERB
fsr-3876	162	12	little	little	ADJ
fsr-3876	162	13	correlation	correlation	NOUN
fsr-3876	162	14	to	to	ADP
fsr-3876	162	15	the	the	DET
fsr-3876	162	16	u.s	u.s	PROPN
fsr-3876	162	17	.	.	PROPN
fsr-3876	162	18	market	market	NOUN
fsr-3876	162	19	will	will	AUX
fsr-3876	162	20	allow	allow	VERB
fsr-3876	162	21	a	a	DET
fsr-3876	162	22	portfolio	portfolio	NOUN
fsr-3876	162	23	to	to	PART
fsr-3876	162	24	grow	grow	VERB
fsr-3876	162	25	consistently	consistently	ADV
fsr-3876	162	26	and	and	CCONJ
fsr-3876	162	27	steadily	steadily	ADV
fsr-3876	162	28	.	.	PUNCT
fsr-3876	163	1	5	5	X
fsr-3876	163	2	.	.	X
fsr-3876	163	3	conclusions	conclusion	NOUN
fsr-3876	163	4	and	and	CCONJ
fsr-3876	163	5	applications	application	NOUN
fsr-3876	163	6	the	the	DET
fsr-3876	163	7	results	result	NOUN
fsr-3876	163	8	of	of	ADP
fsr-3876	163	9	this	this	DET
fsr-3876	163	10	study	study	NOUN
fsr-3876	163	11	suggest	suggest	VERB
fsr-3876	163	12	that	that	SCONJ
fsr-3876	163	13	investment	investment	NOUN
fsr-3876	163	14	into	into	ADP
fsr-3876	163	15	international	international	ADJ
fsr-3876	163	16	mutual	mutual	ADJ
fsr-3876	163	17	funds	fund	NOUN
fsr-3876	163	18	that	that	PRON
fsr-3876	163	19	are	be	AUX
fsr-3876	163	20	based	base	VERB
fsr-3876	163	21	on	on	ADP
fsr-3876	163	22	international	international	ADJ
fsr-3876	163	23	indexes	index	NOUN
fsr-3876	163	24	may	may	AUX
fsr-3876	163	25	offer	offer	VERB
fsr-3876	163	26	significant	significant	ADJ
fsr-3876	163	27	diversification	diversification	NOUN
fsr-3876	163	28	benefits	benefit	NOUN
fsr-3876	163	29	.	.	PUNCT
fsr-3876	164	1	however	however	ADV
fsr-3876	164	2	,	,	PUNCT
fsr-3876	164	3	the	the	DET
fsr-3876	164	4	performance	performance	NOUN
fsr-3876	164	5	of	of	ADP
fsr-3876	164	6	the	the	DET
fsr-3876	164	7	average	average	ADJ
fsr-3876	164	8	international	international	ADJ
fsr-3876	164	9	index	index	NOUN
fsr-3876	164	10	does	do	AUX
fsr-3876	164	11	not	not	PART
fsr-3876	164	12	outperform	outperform	VERB
fsr-3876	164	13	the	the	DET
fsr-3876	164	14	s	s	NOUN
fsr-3876	164	15	&	&	CCONJ
fsr-3876	164	16	p	p	PROPN
fsr-3876	164	17	500benchmark	500benchmark	PROPN
fsr-3876	164	18	.	.	PUNCT
fsr-3876	165	1	the	the	DET
fsr-3876	165	2	sharpe	sharpe	PROPN
fsr-3876	165	3	,	,	PUNCT
fsr-3876	165	4	treynor	treynor	NOUN
fsr-3876	165	5	,	,	PUNCT
fsr-3876	165	6	and	and	CCONJ
fsr-3876	165	7	jensen	jensen	PROPN
fsr-3876	165	8	measures	measure	NOUN
fsr-3876	165	9	prove	prove	VERB
fsr-3876	165	10	that	that	SCONJ
fsr-3876	165	11	the	the	DET
fsr-3876	165	12	emerging	emerge	VERB
fsr-3876	165	13	market	market	NOUN
fsr-3876	165	14	indexes	index	NOUN
fsr-3876	165	15	do	do	AUX
fsr-3876	165	16	outperform	outperform	VERB
fsr-3876	165	17	the	the	DET
fsr-3876	165	18	s	s	NOUN
fsr-3876	165	19	&	&	CCONJ
fsr-3876	165	20	p	p	PROPN
fsr-3876	165	21	500	500	NUM
fsr-3876	165	22	.	.	PUNCT
fsr-3876	166	1	applying	apply	VERB
fsr-3876	166	2	this	this	DET
fsr-3876	166	3	study	study	NOUN
fsr-3876	166	4	to	to	ADP
fsr-3876	166	5	the	the	DET
fsr-3876	166	6	current	current	ADJ
fsr-3876	166	7	investment	investment	NOUN
fsr-3876	166	8	climate	climate	NOUN
fsr-3876	166	9	is	be	AUX
fsr-3876	166	10	extremely	extremely	ADV
fsr-3876	166	11	important	important	ADJ
fsr-3876	166	12	and	and	CCONJ
fsr-3876	166	13	useful	useful	ADJ
fsr-3876	166	14	table	table	NOUN
fsr-3876	166	15	3	3	NUM
fsr-3876	166	16	regression	regression	NOUN
fsr-3876	166	17	of	of	ADP
fsr-3876	166	18	the	the	DET
fsr-3876	166	19	international	international	ADJ
fsr-3876	166	20	indexes	index	NOUN
fsr-3876	166	21	on	on	ADP
fsr-3876	166	22	s	s	PROPN
fsr-3876	166	23	&	&	CCONJ
fsr-3876	166	24	p	p	PROPN
fsr-3876	166	25	500	500	NUM
fsr-3876	166	26	index	index	NOUN
fsr-3876	166	27	coefficient	coefficient	NOUN
fsr-3876	166	28	t	t	NOUN
fsr-3876	166	29	-	-	PUNCT
fsr-3876	166	30	statistic	statistic	NOUN
fsr-3876	166	31	constant	constant	ADJ
fsr-3876	166	32	0.003	0.003	NUM
fsr-3876	166	33	1.098	1.098	NUM
fsr-3876	166	34	ap	ap	PROPN
fsr-3876	166	35	20.016	20.016	NUM
fsr-3876	166	36	20.199	20.199	NUM
fsr-3876	166	37	eme	eme	NOUN
fsr-3876	166	38	20.050	20.050	NUM
fsr-3876	166	39	21.501	21.501	NUM
fsr-3876	166	40	acw	acw	NOUN
fsr-3876	166	41	21.959	21.959	NUM
fsr-3876	166	42	21.475	21.475	NUM
fsr-3876	166	43	eafe	eafe	NOUN
fsr-3876	166	44	29.582	29.582	NUM
fsr-3876	166	45	25.906	25.906	NUM
fsr-3876	166	46	*	*	SYM
fsr-3876	166	47	w	w	ADP
fsr-3876	166	48	12.856	12.856	NUM
fsr-3876	166	49	6.157	6.157	NUM
fsr-3876	166	50	*	*	PUNCT
fsr-3876	166	51	p	p	X
fsr-3876	166	52	20.599	20.599	NUM
fsr-3876	166	53	25.046	25.046	NUM
fsr-3876	166	54	*	*	PUNCT
fsr-3876	166	55	emg	emg	NOUN
fsr-3876	166	56	0.153	0.153	NUM
fsr-3876	166	57	1.440	1.440	NUM
fsr-3876	166	58	emf	emf	NOUN
fsr-3876	166	59	0.143	0.143	NUM
fsr-3876	166	60	1.929	1.929	NUM
fsr-3876	166	61	*	*	PUNCT
fsr-3876	166	62	*	*	PUNCT
fsr-3876	166	63	statistically	statistically	ADV
fsr-3876	166	64	significant	significant	ADJ
fsr-3876	166	65	at	at	ADP
fsr-3876	166	66	the	the	DET
fsr-3876	166	67	95	95	NUM
fsr-3876	166	68	%	%	NOUN
fsr-3876	166	69	level	level	NOUN
fsr-3876	166	70	.	.	PUNCT
fsr-3876	167	1	table	table	NOUN
fsr-3876	167	2	4	4	NUM
fsr-3876	167	3	individual	individual	ADJ
fsr-3876	167	4	regressions	regression	NOUN
fsr-3876	167	5	of	of	ADP
fsr-3876	167	6	international	international	ADJ
fsr-3876	167	7	indexes	index	NOUN
fsr-3876	167	8	on	on	ADP
fsr-3876	167	9	s	s	PROPN
fsr-3876	167	10	&	&	CCONJ
fsr-3876	167	11	p	p	PROPN
fsr-3876	167	12	500	500	NUM
fsr-3876	167	13	index	index	NOUN
fsr-3876	167	14	constant	constant	ADJ
fsr-3876	167	15	coefficient	coefficient	NOUN
fsr-3876	167	16	t	t	NOUN
fsr-3876	167	17	-	-	PUNCT
fsr-3876	167	18	statistic	statistic	NOUN
fsr-3876	167	19	r2	r2	PROPN
fsr-3876	167	20	ap	ap	PROPN
fsr-3876	168	1	0.0086	0.0086	NUM
fsr-3876	168	2	0.3413	0.3413	NUM
fsr-3876	169	1	6.1680	6.1680	NUM
fsr-3876	169	2	*	*	SYM
fsr-3876	169	3	0.2438	0.2438	NUM
fsr-3876	169	4	eme	eme	NOUN
fsr-3876	169	5	0.0112	0.0112	NUM
fsr-3876	169	6	0.0239	0.0239	NUM
fsr-3876	169	7	0.6017	0.6017	NUM
fsr-3876	169	8	0.0031	0.0031	NUM
fsr-3876	169	9	af	af	PROPN
fsr-3876	169	10	20.0008	20.0008	NUM
fsr-3876	169	11	1.0086	1.0086	NUM
fsr-3876	169	12	43.1363	43.1363	NUM
fsr-3876	169	13	*	*	SYM
fsr-3876	169	14	0.9404	0.9404	NUM
fsr-3876	169	15	acw	acw	NOUN
fsr-3876	169	16	0.0096	0.0096	NUM
fsr-3876	169	17	0.3603	0.3603	NUM
fsr-3876	169	18	5.7459	5.7459	NUM
fsr-3876	169	19	*	*	SYM
fsr-3876	169	20	0.2186	0.2186	NUM
fsr-3876	169	21	eafe	eafe	ADJ
fsr-3876	169	22	0.0098	0.0098	NUM
fsr-3876	169	23	0.3178	0.3178	NUM
fsr-3876	169	24	5.2955	5.2955	NUM
fsr-3876	169	25	*	*	PUNCT
fsr-3876	169	26	0.1920	0.1920	NUM
fsr-3876	169	27	w	w	NOUN
fsr-3876	169	28	0.0097	0.0097	NUM
fsr-3876	169	29	0.3379	0.3379	NUM
fsr-3876	169	30	5.5116	5.5116	NUM
fsr-3876	169	31	*	*	NOUN
fsr-3876	169	32	0.2047	0.2047	NUM
fsr-3876	169	33	p	p	NOUN
fsr-3876	169	34	0.0113	0.0113	NUM
fsr-3876	169	35	0.1664	0.1664	NUM
fsr-3876	169	36	3.5008	3.5008	NUM
fsr-3876	169	37	*	*	SYM
fsr-3876	169	38	0.0941	0.0941	NUM
fsr-3876	169	39	emf	emf	NOUN
fsr-3876	169	40	0.0093	0.0093	NUM
fsr-3876	169	41	0.1932	0.1932	NUM
fsr-3876	169	42	3.8442	3.8442	NUM
fsr-3876	169	43	*	*	PROPN
fsr-3876	169	44	0.1113	0.1113	NUM
fsr-3876	169	45	emg	emg	NOUN
fsr-3876	169	46	0.0083	0.0083	NUM
fsr-3876	169	47	0.2275	0.2275	NUM
fsr-3876	169	48	4.6052	4.6052	NUM
fsr-3876	169	49	*	*	SYM
fsr-3876	169	50	0.1523	0.1523	NUM
fsr-3876	169	51	*	*	PUNCT
fsr-3876	169	52	statistically	statistically	ADV
fsr-3876	169	53	significant	significant	ADJ
fsr-3876	169	54	at	at	ADP
fsr-3876	169	55	the	the	DET
fsr-3876	169	56	99	99	NUM
fsr-3876	169	57	%	%	NOUN
fsr-3876	169	58	level	level	NOUN
fsr-3876	169	59	.	.	PUNCT
fsr-3876	170	1	34	34	NUM
fsr-3876	170	2	s.	s.	PROPN
fsr-3876	170	3	aiello	aiello	PROPN
fsr-3876	170	4	,	,	PUNCT
fsr-3876	170	5	n.	n.	PROPN
fsr-3876	170	6	chieffe	chieffe	ADJ
fsr-3876	170	7	/	/	SYM
fsr-3876	170	8	financial	financial	ADJ
fsr-3876	170	9	services	service	NOUN
fsr-3876	170	10	review	review	VERB
fsr-3876	170	11	8	8	NUM
fsr-3876	170	12	(	(	PUNCT
fsr-3876	170	13	1999	1999	NUM
fsr-3876	170	14	)	)	PUNCT
fsr-3876	170	15	27–35	27–35	NUM
fsr-3876	170	16	because	because	SCONJ
fsr-3876	170	17	more	more	ADJ
fsr-3876	170	18	people	people	NOUN
fsr-3876	170	19	are	be	AUX
fsr-3876	170	20	investing	invest	VERB
fsr-3876	170	21	in	in	ADP
fsr-3876	170	22	mutual	mutual	ADJ
fsr-3876	170	23	funds	fund	NOUN
fsr-3876	170	24	.	.	PUNCT
fsr-3876	171	1	international	international	ADJ
fsr-3876	171	2	index	index	NOUN
fsr-3876	171	3	funds	fund	NOUN
fsr-3876	171	4	provide	provide	VERB
fsr-3876	171	5	another	another	DET
fsr-3876	171	6	alternative	alternative	NOUN
fsr-3876	171	7	for	for	ADP
fsr-3876	171	8	investors	investor	NOUN
fsr-3876	171	9	.	.	PUNCT
fsr-3876	172	1	this	this	DET
fsr-3876	172	2	study	study	NOUN
fsr-3876	172	3	urges	urge	VERB
fsr-3876	172	4	caution	caution	NOUN
fsr-3876	172	5	for	for	ADP
fsr-3876	172	6	those	those	DET
fsr-3876	172	7	investors	investor	NOUN
fsr-3876	172	8	who	who	PRON
fsr-3876	172	9	seek	seek	VERB
fsr-3876	172	10	to	to	PART
fsr-3876	172	11	maximize	maximize	VERB
fsr-3876	172	12	returns	return	NOUN
fsr-3876	172	13	.	.	PUNCT
fsr-3876	173	1	however	however	ADV
fsr-3876	173	2	,	,	PUNCT
fsr-3876	173	3	it	it	PRON
fsr-3876	173	4	does	do	AUX
fsr-3876	173	5	suggest	suggest	VERB
fsr-3876	173	6	that	that	SCONJ
fsr-3876	173	7	the	the	DET
fsr-3876	173	8	diversification	diversification	NOUN
fsr-3876	173	9	one	one	PRON
fsr-3876	173	10	can	can	AUX
fsr-3876	173	11	gain	gain	VERB
fsr-3876	173	12	from	from	ADP
fsr-3876	173	13	international	international	ADJ
fsr-3876	173	14	index	index	NOUN
fsr-3876	173	15	funds	fund	NOUN
fsr-3876	173	16	is	be	AUX
fsr-3876	173	17	significant	significant	ADJ
fsr-3876	173	18	and	and	CCONJ
fsr-3876	173	19	important	important	ADJ
fsr-3876	173	20	.	.	PUNCT
fsr-3876	174	1	references	reference	NOUN
fsr-3876	174	2	apap	apap	PROPN
fsr-3876	174	3	,	,	PUNCT
fsr-3876	174	4	a.	a.	PROPN
fsr-3876	174	5	,	,	PUNCT
fsr-3876	174	6	&	&	CCONJ
fsr-3876	174	7	collins	collins	PROPN
fsr-3876	174	8	,	,	PUNCT
fsr-3876	174	9	h.	h.	PROPN
fsr-3876	174	10	(	(	PUNCT
fsr-3876	174	11	1994	1994	NUM
fsr-3876	174	12	)	)	PUNCT
fsr-3876	174	13	.	.	PUNCT
fsr-3876	175	1	international	international	ADJ
fsr-3876	175	2	mutual	mutual	ADJ
fsr-3876	175	3	fund	fund	NOUN
fsr-3876	175	4	performance	performance	NOUN
fsr-3876	175	5	:	:	PUNCT
fsr-3876	175	6	a	a	DET
fsr-3876	175	7	comparison.manag	comparison.manag	NOUN
fsr-3876	175	8	finan	finan	NOUN
fsr-3876	175	9	20(4	20(4	NOUN
fsr-3876	175	10	)	)	PUNCT
fsr-3876	175	11	,	,	PUNCT
fsr-3876	175	12	47–54	47–54	NUM
fsr-3876	175	13	.	.	PUNCT
fsr-3876	176	1	bogle	bogle	PROPN
fsr-3876	176	2	,	,	PUNCT
fsr-3876	176	3	j.	j.	PROPN
fsr-3876	176	4	c.	c.	PROPN
fsr-3876	176	5	(	(	PUNCT
fsr-3876	176	6	1998	1998	NUM
fsr-3876	176	7	)	)	PUNCT
fsr-3876	176	8	.	.	PUNCT
fsr-3876	177	1	the	the	DET
fsr-3876	177	2	implications	implication	NOUN
fsr-3876	177	3	of	of	ADP
fsr-3876	177	4	style	style	NOUN
fsr-3876	177	5	analysis	analysis	NOUN
fsr-3876	177	6	for	for	ADP
fsr-3876	177	7	mutual	mutual	ADJ
fsr-3876	177	8	fund	fund	NOUN
fsr-3876	177	9	performance.j	performance.j	PROPN
fsr-3876	177	10	portf	portf	PROPN
fsr-3876	177	11	manag	manag	VERB
fsr-3876	177	12	24(4	24(4	NOUN
fsr-3876	177	13	)	)	PUNCT
fsr-3876	177	14	,	,	PUNCT
fsr-3876	177	15	34–42	34–42	NUM
fsr-3876	177	16	.	.	PUNCT
fsr-3876	177	17	cumby	cumby	PROPN
fsr-3876	177	18	,	,	PUNCT
fsr-3876	177	19	r.	r.	PROPN
fsr-3876	177	20	e.	e.	PROPN
fsr-3876	177	21	,	,	PUNCT
fsr-3876	177	22	&	&	CCONJ
fsr-3876	177	23	glen	glen	PROPN
fsr-3876	177	24	,	,	PUNCT
fsr-3876	177	25	j.	j.	PROPN
fsr-3876	177	26	d.	d.	PROPN
fsr-3876	177	27	(	(	PUNCT
fsr-3876	177	28	1990	1990	NUM
fsr-3876	177	29	)	)	PUNCT
fsr-3876	177	30	.	.	PUNCT
fsr-3876	178	1	evaluating	evaluate	VERB
fsr-3876	178	2	the	the	DET
fsr-3876	178	3	performance	performance	NOUN
fsr-3876	178	4	of	of	ADP
fsr-3876	178	5	international	international	ADJ
fsr-3876	178	6	mutual	mutual	ADJ
fsr-3876	178	7	funds.j	funds.j	PROPN
fsr-3876	178	8	finan	finan	PROPN
fsr-3876	178	9	45	45	NUM
fsr-3876	178	10	,	,	PUNCT
fsr-3876	178	11	497–521	497–521	NUM
fsr-3876	178	12	.	.	PUNCT
fsr-3876	179	1	divecha	divecha	NOUN
fsr-3876	179	2	,	,	PUNCT
fsr-3876	179	3	a.	a.	PROPN
fsr-3876	179	4	b.	b.	PROPN
fsr-3876	179	5	,	,	PUNCT
fsr-3876	179	6	drach	drach	PROPN
fsr-3876	179	7	,	,	PUNCT
fsr-3876	179	8	j.	j.	PROPN
fsr-3876	179	9	,	,	PUNCT
fsr-3876	179	10	&	&	CCONJ
fsr-3876	179	11	stefek	stefek	PROPN
fsr-3876	179	12	,	,	PUNCT
fsr-3876	179	13	d.	d.	PROPN
fsr-3876	179	14	(	(	PUNCT
fsr-3876	179	15	1992	1992	NUM
fsr-3876	179	16	)	)	PUNCT
fsr-3876	179	17	.	.	PUNCT
fsr-3876	180	1	emerging	emerge	VERB
fsr-3876	180	2	markets	market	NOUN
fsr-3876	180	3	:	:	PUNCT
fsr-3876	180	4	a	a	DET
fsr-3876	180	5	quantitative	quantitative	ADJ
fsr-3876	180	6	perspective.j	perspective.j	PUNCT
fsr-3876	180	7	portf	portf	PROPN
fsr-3876	180	8	manag	manag	PROPN
fsr-3876	180	9	19(1	19(1	NUM
fsr-3876	180	10	)	)	PUNCT
fsr-3876	180	11	,	,	PUNCT
fsr-3876	180	12	41–50	41–50	NOUN
fsr-3876	180	13	.	.	PUNCT
fsr-3876	181	1	droms	drom	NOUN
fsr-3876	181	2	,	,	PUNCT
fsr-3876	181	3	w.	w.	PROPN
fsr-3876	181	4	g.	g.	PROPN
fsr-3876	181	5	,	,	PUNCT
fsr-3876	181	6	&	&	CCONJ
fsr-3876	181	7	walker	walker	PROPN
fsr-3876	181	8	,	,	PUNCT
fsr-3876	181	9	d.	d.	PROPN
fsr-3876	181	10	a.	a.	PROPN
fsr-3876	181	11	(	(	PUNCT
fsr-3876	181	12	1994	1994	NUM
fsr-3876	181	13	)	)	PUNCT
fsr-3876	181	14	.	.	PUNCT
fsr-3876	182	1	investment	investment	NOUN
fsr-3876	182	2	performance	performance	NOUN
fsr-3876	182	3	of	of	ADP
fsr-3876	182	4	international	international	ADJ
fsr-3876	182	5	mutual	mutual	ADJ
fsr-3876	182	6	funds.j	funds.j	PROPN
fsr-3876	182	7	finan	finan	NOUN
fsr-3876	182	8	res	re	NOUN
fsr-3876	182	9	17	17	NUM
fsr-3876	182	10	,	,	PUNCT
fsr-3876	182	11	1–14	1–14	PROPN
fsr-3876	182	12	.	.	PROPN
fsr-3876	182	13	eun	eun	PROPN
fsr-3876	182	14	,	,	PUNCT
fsr-3876	182	15	c.	c.	PROPN
fsr-3876	182	16	s.	s.	PROPN
fsr-3876	182	17	,	,	PUNCT
fsr-3876	182	18	kolodny	kolodny	PROPN
fsr-3876	182	19	,	,	PUNCT
fsr-3876	182	20	r.	r.	PROPN
fsr-3876	182	21	,	,	PUNCT
fsr-3876	182	22	&	&	CCONJ
fsr-3876	182	23	resnick	resnick	PROPN
fsr-3876	182	24	,	,	PUNCT
fsr-3876	182	25	b.	b.	PROPN
fsr-3876	182	26	g.	g.	PROPN
fsr-3876	182	27	(	(	PUNCT
fsr-3876	182	28	1991	1991	NUM
fsr-3876	182	29	)	)	PUNCT
fsr-3876	182	30	.	.	PUNCT
fsr-3876	183	1	u.s.-based	u.s.-based	PROPN
fsr-3876	183	2	international	international	ADJ
fsr-3876	183	3	mutual	mutual	ADJ
fsr-3876	183	4	funds	fund	NOUN
fsr-3876	183	5	:	:	PUNCT
fsr-3876	183	6	a	a	DET
fsr-3876	183	7	performance	performance	NOUN
fsr-3876	183	8	evaluation.j	evaluation.j	VERB
fsr-3876	183	9	portf	portf	PROPN
fsr-3876	183	10	manag	manag	PROPN
fsr-3876	183	11	17	17	NUM
fsr-3876	183	12	,	,	PUNCT
fsr-3876	183	13	88–94	88–94	NOUN
fsr-3876	183	14	.	.	PUNCT
fsr-3876	184	1	gruber	gruber	PROPN
fsr-3876	184	2	,	,	PUNCT
fsr-3876	184	3	m.	m.	NOUN
fsr-3876	184	4	j.	j.	PROPN
fsr-3876	184	5	(	(	PUNCT
fsr-3876	184	6	1996	1996	NUM
fsr-3876	184	7	)	)	PUNCT
fsr-3876	184	8	.	.	PUNCT
fsr-3876	185	1	another	another	DET
fsr-3876	185	2	puzzle	puzzle	NOUN
fsr-3876	185	3	:	:	PUNCT
fsr-3876	185	4	the	the	DET
fsr-3876	185	5	growth	growth	NOUN
fsr-3876	185	6	in	in	ADP
fsr-3876	185	7	actively	actively	ADV
fsr-3876	185	8	managed	manage	VERB
fsr-3876	185	9	mutual	mutual	ADJ
fsr-3876	185	10	funds.j	funds.j	PROPN
fsr-3876	185	11	finan	finan	NOUN
fsr-3876	185	12	51(3	51(3	NUM
fsr-3876	185	13	)	)	PUNCT
fsr-3876	185	14	,	,	PUNCT
fsr-3876	185	15	783–810	783–810	NUM
fsr-3876	185	16	.	.	PUNCT
fsr-3876	186	1	ho	ho	PROPN
fsr-3876	186	2	,	,	PUNCT
fsr-3876	186	3	k.	k.	PROPN
fsr-3876	186	4	,	,	PUNCT
fsr-3876	186	5	milevsky	milevsky	PROPN
fsr-3876	186	6	,	,	PUNCT
fsr-3876	186	7	m.a	m.a	PROPN
fsr-3876	186	8	.	.	PROPN
fsr-3876	186	9	,	,	PUNCT
fsr-3876	186	10	&	&	CCONJ
fsr-3876	186	11	robinson	robinson	PROPN
fsr-3876	186	12	,	,	PUNCT
fsr-3876	186	13	c.	c.	PROPN
fsr-3876	186	14	(	(	PUNCT
fsr-3876	186	15	1999	1999	NUM
fsr-3876	186	16	)	)	PUNCT
fsr-3876	186	17	.	.	PUNCT
fsr-3876	187	1	international	international	ADJ
fsr-3876	187	2	equity	equity	NOUN
fsr-3876	187	3	diversification	diversification	NOUN
fsr-3876	187	4	and	and	CCONJ
fsr-3876	187	5	shortfall	shortfall	NOUN
fsr-3876	187	6	risk.finan	risk.finan	PROPN
fsr-3876	187	7	serv	serv	PROPN
fsr-3876	187	8	rev	rev	VERB
fsr-3876	187	9	8(1	8(1	NOUN
fsr-3876	187	10	)	)	PUNCT
fsr-3876	187	11	,	,	PUNCT
fsr-3876	187	12	13–27	13–27	NUM
fsr-3876	187	13	.	.	PUNCT
fsr-3876	188	1	hogan	hogan	PROPN
fsr-3876	188	2	,	,	PUNCT
fsr-3876	188	3	p.	p.	PROPN
fsr-3876	188	4	h.	h.	PROPN
fsr-3876	188	5	(	(	PUNCT
fsr-3876	188	6	1994	1994	NUM
fsr-3876	188	7	)	)	PUNCT
fsr-3876	188	8	.	.	PUNCT
fsr-3876	189	1	portfolio	portfolio	NOUN
fsr-3876	189	2	theory	theory	NOUN
fsr-3876	189	3	creates	create	VERB
fsr-3876	189	4	new	new	ADJ
fsr-3876	189	5	investment	investment	NOUN
fsr-3876	189	6	opportunities.j	opportunities.j	PROPN
fsr-3876	189	7	finan	finan	PROPN
fsr-3876	189	8	plan	plan	NOUN
fsr-3876	189	9	7(1	7(1	NUM
fsr-3876	189	10	)	)	PUNCT
fsr-3876	189	11	,	,	PUNCT
fsr-3876	189	12	35–37	35–37	PROPN
fsr-3876	189	13	.	.	PUNCT
fsr-3876	189	14	hunter	hunter	NOUN
fsr-3876	189	15	,	,	PUNCT
fsr-3876	189	16	j.	j.	PROPN
fsr-3876	189	17	e.	e.	PROPN
fsr-3876	189	18	&	&	CCONJ
fsr-3876	189	19	coggin	coggin	PROPN
fsr-3876	189	20	,	,	PUNCT
fsr-3876	189	21	t.	t.	PROPN
fsr-3876	189	22	d.	d.	PROPN
fsr-3876	189	23	(	(	PUNCT
fsr-3876	189	24	1990	1990	NUM
fsr-3876	189	25	)	)	PUNCT
fsr-3876	189	26	.	.	PUNCT
fsr-3876	190	1	an	an	DET
fsr-3876	190	2	analysis	analysis	NOUN
fsr-3876	190	3	of	of	ADP
fsr-3876	190	4	the	the	DET
fsr-3876	190	5	diversification	diversification	NOUN
fsr-3876	190	6	benefit	benefit	NOUN
fsr-3876	190	7	from	from	ADP
fsr-3876	190	8	international	international	ADJ
fsr-3876	190	9	equity	equity	NOUN
fsr-3876	190	10	investment.j	investment.j	PROPN
fsr-3876	190	11	portf	portf	PROPN
fsr-3876	190	12	manag	manag	PROPN
fsr-3876	190	13	17(1	17(1	NUM
fsr-3876	190	14	)	)	PUNCT
fsr-3876	190	15	,	,	PUNCT
fsr-3876	190	16	33–36	33–36	NUM
fsr-3876	190	17	.	.	PUNCT
fsr-3876	191	1	jensen	jensen	PROPN
fsr-3876	191	2	,	,	PUNCT
fsr-3876	191	3	m.	m.	PROPN
fsr-3876	191	4	c.	c.	PROPN
fsr-3876	191	5	(	(	PUNCT
fsr-3876	191	6	1968	1968	NUM
fsr-3876	191	7	)	)	PUNCT
fsr-3876	191	8	.	.	PUNCT
fsr-3876	192	1	the	the	DET
fsr-3876	192	2	performance	performance	NOUN
fsr-3876	192	3	of	of	ADP
fsr-3876	192	4	mutual	mutual	ADJ
fsr-3876	192	5	funds	fund	NOUN
fsr-3876	192	6	in	in	ADP
fsr-3876	192	7	the	the	DET
fsr-3876	192	8	period	period	NOUN
fsr-3876	192	9	1945–1964.j	1945–1964.j	DET
fsr-3876	192	10	finan	finan	NOUN
fsr-3876	192	11	23	23	NUM
fsr-3876	192	12	,	,	PUNCT
fsr-3876	192	13	389–416	389–416	NUM
fsr-3876	192	14	.	.	PUNCT
fsr-3876	193	1	khanna	khanna	PROPN
fsr-3876	193	2	,	,	PUNCT
fsr-3876	193	3	a.	a.	NOUN
fsr-3876	193	4	(	(	PUNCT
fsr-3876	193	5	1996	1996	NUM
fsr-3876	193	6	)	)	PUNCT
fsr-3876	193	7	.	.	PUNCT
fsr-3876	194	1	equity	equity	NOUN
fsr-3876	194	2	investment	investment	NOUN
fsr-3876	194	3	prospects	prospect	NOUN
fsr-3876	194	4	in	in	ADP
fsr-3876	194	5	emerging	emerge	VERB
fsr-3876	194	6	markets.j	markets.j	PROPN
fsr-3876	194	7	world	world	NOUN
fsr-3876	194	8	bus	bus	NOUN
fsr-3876	194	9	31(2	31(2	NUM
fsr-3876	194	10	)	)	PUNCT
fsr-3876	194	11	,	,	PUNCT
fsr-3876	194	12	32–39	32–39	NUM
fsr-3876	194	13	.	.	PUNCT
fsr-3876	195	1	malhorta	malhorta	PROPN
fsr-3876	195	2	,	,	PUNCT
fsr-3876	195	3	d.	d.	PROPN
fsr-3876	195	4	k.	k.	PROPN
fsr-3876	195	5	,	,	PUNCT
fsr-3876	195	6	&	&	CCONJ
fsr-3876	195	7	mcleod	mcleod	PROPN
fsr-3876	195	8	,	,	PUNCT
fsr-3876	195	9	r.	r.	PROPN
fsr-3876	195	10	f.	f.	PROPN
fsr-3876	195	11	(	(	PUNCT
fsr-3876	195	12	1997	1997	NUM
fsr-3876	195	13	)	)	PUNCT
fsr-3876	195	14	.	.	PUNCT
fsr-3876	196	1	an	an	DET
fsr-3876	196	2	empirical	empirical	ADJ
fsr-3876	196	3	analysis	analysis	NOUN
fsr-3876	196	4	of	of	ADP
fsr-3876	196	5	mutual	mutual	ADJ
fsr-3876	196	6	fund	fund	NOUN
fsr-3876	196	7	expenses.j	expenses.j	PROPN
fsr-3876	196	8	finan	finan	PROPN
fsr-3876	196	9	res	re	NOUN
fsr-3876	196	10	20	20	NUM
fsr-3876	196	11	,	,	PUNCT
fsr-3876	196	12	175–190	175–190	NUM
fsr-3876	196	13	.	.	PUNCT
fsr-3876	197	1	masters	master	NOUN
fsr-3876	197	2	,	,	PUNCT
fsr-3876	197	3	s.	s.	PROPN
fsr-3876	197	4	j.	j.	PROPN
fsr-3876	197	5	(	(	PUNCT
fsr-3876	197	6	1998	1998	NUM
fsr-3876	197	7	)	)	PUNCT
fsr-3876	197	8	.	.	PUNCT
fsr-3876	198	1	the	the	DET
fsr-3876	198	2	problem	problem	NOUN
fsr-3876	198	3	with	with	ADP
fsr-3876	198	4	emerging	emerge	VERB
fsr-3876	198	5	market	market	NOUN
fsr-3876	198	6	indexes.j	indexes.j	PROPN
fsr-3876	198	7	.	.	PUNCT
fsr-3876	198	8	portf	portf	PROPN
fsr-3876	198	9	manag	manag	PROPN
fsr-3876	198	10	24	24	NUM
fsr-3876	198	11	,	,	PUNCT
fsr-3876	198	12	93–100	93–100	PROPN
fsr-3876	198	13	.	.	PUNCT
fsr-3876	199	1	russell	russell	PROPN
fsr-3876	199	2	,	,	PUNCT
fsr-3876	199	3	j.	j.	PROPN
fsr-3876	199	4	(	(	PUNCT
fsr-3876	199	5	1998	1998	NUM
fsr-3876	199	6	)	)	PUNCT
fsr-3876	199	7	.	.	PUNCT
fsr-3876	200	1	the	the	DET
fsr-3876	200	2	international	international	ADJ
fsr-3876	200	3	diversification	diversification	NOUN
fsr-3876	200	4	fallacy	fallacy	NOUN
fsr-3876	200	5	of	of	ADP
fsr-3876	200	6	exchange	exchange	NOUN
fsr-3876	200	7	-	-	PUNCT
fsr-3876	200	8	listed	list	VERB
fsr-3876	200	9	securities.finan	securities.finan	X
fsr-3876	200	10	serv	serv	AUX
fsr-3876	200	11	rev	rev	VERB
fsr-3876	200	12	7(2	7(2	PRON
fsr-3876	200	13	)	)	PUNCT
fsr-3876	200	14	,	,	PUNCT
fsr-3876	201	1	95–106	95–106	NUM
fsr-3876	201	2	.	.	PUNCT
fsr-3876	202	1	sharpe	sharpe	PROPN
fsr-3876	202	2	,	,	PUNCT
fsr-3876	202	3	w.	w.	PROPN
fsr-3876	202	4	(	(	PUNCT
fsr-3876	202	5	1966	1966	NUM
fsr-3876	202	6	)	)	PUNCT
fsr-3876	202	7	.	.	PUNCT
fsr-3876	203	1	mutual	mutual	ADJ
fsr-3876	203	2	fund	fund	NOUN
fsr-3876	203	3	performance.j	performance.j	NOUN
fsr-3876	203	4	bus	bus	NOUN
fsr-3876	203	5	39(1	39(1	NUM
fsr-3876	203	6	)	)	PUNCT
fsr-3876	203	7	,	,	PUNCT
fsr-3876	203	8	119–38	119–38	NUM
fsr-3876	203	9	.	.	PUNCT
fsr-3876	204	1	sinquefield	sinquefield	PROPN
fsr-3876	204	2	,	,	PUNCT
fsr-3876	204	3	r.	r.	PROPN
fsr-3876	204	4	(	(	PUNCT
fsr-3876	204	5	1996	1996	NUM
fsr-3876	204	6	)	)	PUNCT
fsr-3876	204	7	.	.	PUNCT
fsr-3876	205	1	where	where	SCONJ
fsr-3876	205	2	are	be	AUX
fsr-3876	205	3	the	the	DET
fsr-3876	205	4	gains	gain	NOUN
fsr-3876	205	5	from	from	ADP
fsr-3876	205	6	international	international	ADJ
fsr-3876	205	7	diversification?finan	diversification?finan	PROPN
fsr-3876	205	8	anal	anal	PROPN
fsr-3876	205	9	j	j	PROPN
fsr-3876	205	10	52(1	52(1	NOUN
fsr-3876	205	11	)	)	PUNCT
fsr-3876	205	12	,	,	PUNCT
fsr-3876	205	13	8–14	8–14	PROPN
fsr-3876	205	14	.	.	PUNCT
fsr-3876	206	1	solnik	solnik	PROPN
fsr-3876	206	2	,	,	PUNCT
fsr-3876	206	3	b.	b.	PROPN
fsr-3876	206	4	h.	h.	PROPN
fsr-3876	206	5	(	(	PUNCT
fsr-3876	206	6	1995	1995	NUM
fsr-3876	206	7	)	)	PUNCT
fsr-3876	206	8	.	.	PUNCT
fsr-3876	207	1	why	why	SCONJ
fsr-3876	207	2	not	not	PART
fsr-3876	207	3	diversify	diversify	VERB
fsr-3876	207	4	internationally	internationally	ADV
fsr-3876	207	5	rather	rather	ADV
fsr-3876	207	6	than	than	ADP
fsr-3876	207	7	domestically?finan	domestically?finan	PROPN
fsr-3876	207	8	anal	anal	PROPN
fsr-3876	207	9	j	j	PROPN
fsr-3876	207	10	51(1	51(1	NUM
fsr-3876	207	11	)	)	PUNCT
fsr-3876	207	12	,	,	PUNCT
fsr-3876	207	13	89–94	89–94	NUM
fsr-3876	207	14	.	.	PUNCT
fsr-3876	208	1	speidell	speidell	PROPN
fsr-3876	208	2	,	,	PUNCT
fsr-3876	208	3	l.	l.	PROPN
fsr-3876	208	4	s.	s.	PROPN
fsr-3876	208	5	,	,	PUNCT
fsr-3876	208	6	&	&	CCONJ
fsr-3876	208	7	sappenfield	sappenfield	PROPN
fsr-3876	208	8	,	,	PUNCT
fsr-3876	208	9	r.	r.	PROPN
fsr-3876	208	10	(	(	PUNCT
fsr-3876	208	11	1992	1992	NUM
fsr-3876	208	12	)	)	PUNCT
fsr-3876	208	13	.	.	PUNCT
fsr-3876	209	1	global	global	ADJ
fsr-3876	209	2	diversification	diversification	NOUN
fsr-3876	209	3	in	in	ADP
fsr-3876	209	4	a	a	DET
fsr-3876	209	5	shrinking	shrink	VERB
fsr-3876	209	6	world.j	world.j	PROPN
fsr-3876	209	7	portf	portf	NOUN
fsr-3876	209	8	manag	manag	PROPN
fsr-3876	209	9	19(1	19(1	NUM
fsr-3876	209	10	)	)	PUNCT
fsr-3876	209	11	,	,	PUNCT
fsr-3876	209	12	57–67	57–67	NUM
fsr-3876	209	13	.	.	PUNCT
fsr-3876	209	14	treynor	treynor	PROPN
fsr-3876	209	15	,	,	PUNCT
fsr-3876	209	16	j.	j.	PROPN
fsr-3876	209	17	(	(	PUNCT
fsr-3876	209	18	1965	1965	NUM
fsr-3876	209	19	)	)	PUNCT
fsr-3876	209	20	.	.	PUNCT
fsr-3876	210	1	how	how	SCONJ
fsr-3876	210	2	to	to	PART
fsr-3876	210	3	rate	rate	VERB
fsr-3876	210	4	management	management	NOUN
fsr-3876	210	5	of	of	ADP
fsr-3876	210	6	investment	investment	NOUN
fsr-3876	210	7	funds.harv	funds.harv	NUM
fsr-3876	210	8	bus	bus	NOUN
fsr-3876	210	9	rev	rev	VERB
fsr-3876	210	10	43(1	43(1	PROPN
fsr-3876	210	11	)	)	PUNCT
fsr-3876	210	12	,	,	PUNCT
fsr-3876	210	13	63–75	63–75	NUM
fsr-3876	210	14	.	.	PUNCT
fsr-3876	210	15	35s	35	NOUN
fsr-3876	210	16	.	.	PUNCT
fsr-3876	211	1	aiello	aiello	PROPN
fsr-3876	211	2	,	,	PUNCT
fsr-3876	211	3	n.	n.	PROPN
fsr-3876	211	4	chieffe	chieffe	PROPN
fsr-3876	211	5	/	/	SYM
fsr-3876	211	6	financial	financial	ADJ
fsr-3876	211	7	services	service	NOUN
fsr-3876	211	8	review	review	VERB
fsr-3876	211	9	8	8	NUM
fsr-3876	211	10	(	(	PUNCT
fsr-3876	211	11	1999	1999	NUM
fsr-3876	211	12	)	)	PUNCT
fsr-3876	211	13	27–35	27–35	NUM