id	sid	tid	token	lemma	pos
fsr-3884	1	1	pii	pii	PROPN
fsr-3884	1	2	:	:	PUNCT
fsr-3884	1	3	s1057	s1057	NOUN
fsr-3884	1	4	-	-	PUNCT
fsr-3884	1	5	0810(99)00035	0810(99)00035	NUM
fsr-3884	1	6	-	-	PUNCT
fsr-3884	1	7	9	9	NUM
fsr-3884	1	8	investor	investor	NOUN
fsr-3884	1	9	partitioning	partitioning	NOUN
fsr-3884	1	10	of	of	ADP
fsr-3884	1	11	the	the	DET
fsr-3884	1	12	components	component	NOUN
fsr-3884	1	13	of	of	ADP
fsr-3884	1	14	value	value	NOUN
fsr-3884	1	15	in	in	ADP
fsr-3884	1	16	corporate	corporate	ADJ
fsr-3884	1	17	earnings	earning	NOUN
fsr-3884	1	18	announcements	announcement	NOUN
fsr-3884	1	19	john	john	PROPN
fsr-3884	1	20	a.	a.	PROPN
fsr-3884	1	21	macdonalda	macdonalda	PROPN
fsr-3884	1	22	,	,	PUNCT
fsr-3884	1	23	*	*	PROPN
fsr-3884	1	24	,	,	PUNCT
fsr-3884	1	25	david	david	PROPN
fsr-3884	1	26	m.	m.	PROPN
fsr-3884	1	27	smithb	smithb	PROPN
fsr-3884	1	28	adepartment	adepartment	PROPN
fsr-3884	1	29	of	of	ADP
fsr-3884	1	30	economics	economic	NOUN
fsr-3884	1	31	and	and	CCONJ
fsr-3884	1	32	finance	finance	NOUN
fsr-3884	1	33	,	,	PUNCT
fsr-3884	1	34	school	school	NOUN
fsr-3884	1	35	of	of	ADP
fsr-3884	1	36	business	business	NOUN
fsr-3884	1	37	,	,	PUNCT
fsr-3884	1	38	clarkson	clarkson	PROPN
fsr-3884	1	39	university	university	PROPN
fsr-3884	1	40	,	,	PUNCT
fsr-3884	1	41	potsdam	potsdam	PROPN
fsr-3884	1	42	,	,	PUNCT
fsr-3884	1	43	ny	ny	PROPN
fsr-3884	1	44	13699	13699	NUM
fsr-3884	1	45	,	,	PUNCT
fsr-3884	1	46	usa	usa	PROPN
fsr-3884	1	47	bfaculty	bfaculty	PROPN
fsr-3884	1	48	of	of	ADP
fsr-3884	1	49	finance	finance	NOUN
fsr-3884	1	50	,	,	PUNCT
fsr-3884	1	51	school	school	NOUN
fsr-3884	1	52	of	of	ADP
fsr-3884	1	53	business	business	NOUN
fsr-3884	1	54	,	,	PUNCT
fsr-3884	1	55	university	university	NOUN
fsr-3884	1	56	at	at	ADP
fsr-3884	1	57	albany	albany	PROPN
fsr-3884	1	58	,	,	PUNCT
fsr-3884	1	59	suny	suny	PROPN
fsr-3884	1	60	,	,	PUNCT
fsr-3884	1	61	albany	albany	PROPN
fsr-3884	1	62	,	,	PUNCT
fsr-3884	1	63	ny	ny	PROPN
fsr-3884	1	64	12222	12222	NUM
fsr-3884	1	65	,	,	PUNCT
fsr-3884	1	66	usa	usa	PROPN
fsr-3884	1	67	abstract	abstract	NOUN
fsr-3884	1	68	this	this	DET
fsr-3884	1	69	study	study	NOUN
fsr-3884	1	70	provides	provide	VERB
fsr-3884	1	71	new	new	ADJ
fsr-3884	1	72	insight	insight	NOUN
fsr-3884	1	73	into	into	ADP
fsr-3884	1	74	the	the	DET
fsr-3884	1	75	market	market	NOUN
fsr-3884	1	76	’s	’s	PART
fsr-3884	1	77	allocation	allocation	NOUN
fsr-3884	1	78	of	of	ADP
fsr-3884	1	79	dividend	dividend	NOUN
fsr-3884	1	80	-	-	PUNCT
fsr-3884	1	81	related	relate	VERB
fsr-3884	1	82	and	and	CCONJ
fsr-3884	1	83	capital	capital	NOUN
fsr-3884	1	84	gains	gain	NOUN
fsr-3884	1	85	-	-	PUNCT
fsr-3884	1	86	based	base	VERB
fsr-3884	1	87	returns	return	NOUN
fsr-3884	1	88	on	on	ADP
fsr-3884	1	89	common	common	ADJ
fsr-3884	1	90	stock	stock	NOUN
fsr-3884	1	91	around	around	ADP
fsr-3884	1	92	earnings	earning	NOUN
fsr-3884	1	93	announcement	announcement	NOUN
fsr-3884	1	94	surprises	surprise	NOUN
fsr-3884	1	95	.	.	PUNCT
fsr-3884	2	1	to	to	ADP
fsr-3884	2	2	the	the	DET
fsr-3884	2	3	extent	extent	NOUN
fsr-3884	2	4	that	that	SCONJ
fsr-3884	2	5	investors	investor	NOUN
fsr-3884	2	6	’	’	PART
fsr-3884	2	7	cash	cash	NOUN
fsr-3884	2	8	flow	flow	NOUN
fsr-3884	2	9	forecasts	forecast	NOUN
fsr-3884	2	10	are	be	AUX
fsr-3884	2	11	revised	revise	VERB
fsr-3884	2	12	as	as	SCONJ
fsr-3884	2	13	earnings	earning	NOUN
fsr-3884	2	14	surprises	surprise	NOUN
fsr-3884	2	15	occur	occur	VERB
fsr-3884	2	16	,	,	PUNCT
fsr-3884	2	17	americus	americus	PROPN
fsr-3884	2	18	trust	trust	PROPN
fsr-3884	2	19	prime	prime	NOUN
fsr-3884	2	20	and	and	CCONJ
fsr-3884	2	21	score	score	NOUN
fsr-3884	2	22	returns	return	NOUN
fsr-3884	2	23	reflect	reflect	VERB
fsr-3884	2	24	changes	change	NOUN
fsr-3884	2	25	in	in	ADP
fsr-3884	2	26	respective	respective	ADJ
fsr-3884	2	27	future	future	ADJ
fsr-3884	2	28	dividends	dividend	NOUN
fsr-3884	2	29	and	and	CCONJ
fsr-3884	2	30	capital	capital	NOUN
fsr-3884	2	31	gains	gain	NOUN
fsr-3884	2	32	.	.	PUNCT
fsr-3884	3	1	about	about	ADV
fsr-3884	3	2	70	70	NUM
fsr-3884	3	3	%	%	NOUN
fsr-3884	3	4	of	of	ADP
fsr-3884	3	5	the	the	DET
fsr-3884	3	6	value	value	NOUN
fsr-3884	3	7	gain	gain	NOUN
fsr-3884	3	8	from	from	ADP
fsr-3884	3	9	positive	positive	ADJ
fsr-3884	3	10	surprises	surprise	NOUN
fsr-3884	3	11	accrues	accrue	VERB
fsr-3884	3	12	in	in	ADP
fsr-3884	3	13	the	the	DET
fsr-3884	3	14	capital	capital	NOUN
fsr-3884	3	15	gains	gain	NOUN
fsr-3884	3	16	(	(	PUNCT
fsr-3884	3	17	score	score	NOUN
fsr-3884	3	18	)	)	PUNCT
fsr-3884	3	19	value	value	NOUN
fsr-3884	3	20	adjustment	adjustment	NOUN
fsr-3884	3	21	,	,	PUNCT
fsr-3884	3	22	with	with	ADP
fsr-3884	3	23	expected	expect	VERB
fsr-3884	3	24	dividends	dividend	NOUN
fsr-3884	3	25	(	(	PUNCT
fsr-3884	3	26	primes	prime	NOUN
fsr-3884	3	27	)	)	PUNCT
fsr-3884	3	28	reflecting	reflect	VERB
fsr-3884	3	29	the	the	DET
fsr-3884	3	30	remaining	remain	VERB
fsr-3884	3	31	30	30	NUM
fsr-3884	3	32	%	%	NOUN
fsr-3884	3	33	.	.	PUNCT
fsr-3884	4	1	the	the	DET
fsr-3884	4	2	relative	relative	ADJ
fsr-3884	4	3	proportion	proportion	NOUN
fsr-3884	4	4	is	be	AUX
fsr-3884	4	5	greater	great	ADJ
fsr-3884	4	6	in	in	ADP
fsr-3884	4	7	magnitude	magnitude	NOUN
fsr-3884	4	8	at	at	ADP
fsr-3884	4	9	the	the	DET
fsr-3884	4	10	announcement	announcement	NOUN
fsr-3884	4	11	of	of	ADP
fsr-3884	4	12	fiscal	fiscal	ADJ
fsr-3884	4	13	fourth	fourth	ADJ
fsr-3884	4	14	quarter	quarter	NOUN
fsr-3884	4	15	results	result	NOUN
fsr-3884	4	16	when	when	SCONJ
fsr-3884	4	17	dividend	dividend	NOUN
fsr-3884	4	18	changes	change	NOUN
fsr-3884	4	19	are	be	AUX
fsr-3884	4	20	more	more	ADV
fsr-3884	4	21	likely	likely	ADJ
fsr-3884	4	22	to	to	PART
fsr-3884	4	23	follow	follow	VERB
fsr-3884	4	24	the	the	DET
fsr-3884	4	25	quarter	quarter	NOUN
fsr-3884	4	26	earnings	earning	NOUN
fsr-3884	4	27	announcement	announcement	NOUN
fsr-3884	4	28	.	.	PUNCT
fsr-3884	5	1	©	©	PROPN
fsr-3884	5	2	1999	1999	NUM
fsr-3884	5	3	elsevier	elsevier	PROPN
fsr-3884	5	4	science	science	PROPN
fsr-3884	5	5	inc	inc	PROPN
fsr-3884	5	6	.	.	PUNCT
fsr-3884	6	1	all	all	DET
fsr-3884	6	2	rights	right	NOUN
fsr-3884	6	3	reserved	reserve	VERB
fsr-3884	6	4	.	.	PUNCT
fsr-3884	7	1	jel	jel	PROPN
fsr-3884	7	2	classification	classification	NOUN
fsr-3884	7	3	:	:	PUNCT
fsr-3884	7	4	g120	g120	PROPN
fsr-3884	7	5	keywords	keyword	NOUN
fsr-3884	7	6	:	:	PUNCT
fsr-3884	7	7	asset	asset	NOUN
fsr-3884	7	8	pricing	pricing	NOUN
fsr-3884	7	9	;	;	PUNCT
fsr-3884	7	10	primes	prime	NOUN
fsr-3884	7	11	;	;	PUNCT
fsr-3884	7	12	scores	score	NOUN
fsr-3884	7	13	;	;	PUNCT
fsr-3884	7	14	earnings	earning	NOUN
fsr-3884	7	15	announcements	announcement	NOUN
fsr-3884	7	16	1	1	NUM
fsr-3884	7	17	.	.	PUNCT
fsr-3884	8	1	introduction	introduction	NOUN
fsr-3884	8	2	it	it	PRON
fsr-3884	8	3	has	have	AUX
fsr-3884	8	4	long	long	ADV
fsr-3884	8	5	been	be	AUX
fsr-3884	8	6	known	know	VERB
fsr-3884	8	7	that	that	SCONJ
fsr-3884	8	8	corporate	corporate	ADJ
fsr-3884	8	9	earnings	earning	NOUN
fsr-3884	8	10	surprises	surprise	NOUN
fsr-3884	8	11	significantly	significantly	ADV
fsr-3884	8	12	affect	affect	VERB
fsr-3884	8	13	returns	return	NOUN
fsr-3884	8	14	to	to	ADP
fsr-3884	8	15	investors	investor	NOUN
fsr-3884	8	16	.	.	PUNCT
fsr-3884	9	1	researchers	researcher	NOUN
fsr-3884	9	2	have	have	AUX
fsr-3884	9	3	examined	examine	VERB
fsr-3884	9	4	the	the	DET
fsr-3884	9	5	impact	impact	NOUN
fsr-3884	9	6	of	of	ADP
fsr-3884	9	7	quarterly	quarterly	ADJ
fsr-3884	9	8	and	and	CCONJ
fsr-3884	9	9	annual	annual	ADJ
fsr-3884	9	10	earnings	earning	NOUN
fsr-3884	9	11	announcements	announcement	NOUN
fsr-3884	9	12	on	on	ADP
fsr-3884	9	13	stock	stock	NOUN
fsr-3884	9	14	prices	price	NOUN
fsr-3884	9	15	,	,	PUNCT
fsr-3884	9	16	trading	trading	NOUN
fsr-3884	9	17	volume	volume	NOUN
fsr-3884	9	18	,	,	PUNCT
fsr-3884	9	19	average	average	ADJ
fsr-3884	9	20	transaction	transaction	NOUN
fsr-3884	9	21	size	size	NOUN
fsr-3884	9	22	,	,	PUNCT
fsr-3884	9	23	option	option	NOUN
fsr-3884	9	24	volatility	volatility	NOUN
fsr-3884	9	25	,	,	PUNCT
fsr-3884	9	26	and	and	CCONJ
fsr-3884	9	27	option	option	VERB
fsr-3884	9	28	open	open	ADJ
fsr-3884	9	29	interest	interest	NOUN
fsr-3884	9	30	,	,	PUNCT
fsr-3884	9	31	among	among	ADP
fsr-3884	9	32	other	other	ADJ
fsr-3884	9	33	issues	issue	NOUN
fsr-3884	9	34	.	.	PUNCT
fsr-3884	10	1	a	a	DET
fsr-3884	10	2	nearly	nearly	ADV
fsr-3884	10	3	universal	universal	ADJ
fsr-3884	10	4	conclusion	conclusion	NOUN
fsr-3884	10	5	in	in	ADP
fsr-3884	10	6	the	the	DET
fsr-3884	10	7	literature	literature	NOUN
fsr-3884	10	8	is	be	AUX
fsr-3884	10	9	that	that	SCONJ
fsr-3884	10	10	earnings	earning	NOUN
fsr-3884	10	11	announcements	announcement	NOUN
fsr-3884	10	12	have	have	VERB
fsr-3884	10	13	significant	significant	ADJ
fsr-3884	10	14	information	information	NOUN
fsr-3884	10	15	content	content	NOUN
fsr-3884	10	16	,	,	PUNCT
fsr-3884	10	17	and	and	CCONJ
fsr-3884	10	18	thus	thus	ADV
fsr-3884	10	19	are	be	AUX
fsr-3884	10	20	important	important	ADJ
fsr-3884	10	21	to	to	ADP
fsr-3884	10	22	investors	investor	NOUN
fsr-3884	10	23	in	in	ADP
fsr-3884	10	24	estimating	estimate	VERB
fsr-3884	10	25	future	future	ADJ
fsr-3884	10	26	cash	cash	NOUN
fsr-3884	10	27	flows	flow	NOUN
fsr-3884	10	28	.	.	PUNCT
fsr-3884	11	1	the	the	DET
fsr-3884	11	2	purpose	purpose	NOUN
fsr-3884	11	3	of	of	ADP
fsr-3884	11	4	this	this	DET
fsr-3884	11	5	study	study	NOUN
fsr-3884	11	6	is	be	AUX
fsr-3884	11	7	to	to	PART
fsr-3884	11	8	measure	measure	VERB
fsr-3884	11	9	the	the	DET
fsr-3884	11	10	impact	impact	NOUN
fsr-3884	11	11	of	of	ADP
fsr-3884	11	12	earnings	earning	NOUN
fsr-3884	11	13	surprises	surprise	NOUN
fsr-3884	11	14	on	on	ADP
fsr-3884	11	15	the	the	DET
fsr-3884	11	16	expected	expect	VERB
fsr-3884	11	17	capital	capital	NOUN
fsr-3884	11	18	gains	gain	NOUN
fsr-3884	11	19	and	and	CCONJ
fsr-3884	11	20	dividend	dividend	NOUN
fsr-3884	11	21	returns	return	NOUN
fsr-3884	11	22	to	to	ADP
fsr-3884	11	23	common	common	ADJ
fsr-3884	11	24	stockholders	stockholder	NOUN
fsr-3884	11	25	.	.	PUNCT
fsr-3884	12	1	americus	americus	PROPN
fsr-3884	12	2	trust	trust	PROPN
fsr-3884	12	3	securities	security	NOUN
fsr-3884	12	4	provide	provide	VERB
fsr-3884	12	5	a	a	DET
fsr-3884	12	6	novel	novel	ADJ
fsr-3884	12	7	means	mean	NOUN
fsr-3884	12	8	by	by	ADP
fsr-3884	12	9	which	which	PRON
fsr-3884	12	10	to	to	PART
fsr-3884	12	11	partition	partition	VERB
fsr-3884	12	12	the	the	DET
fsr-3884	12	13	components	component	NOUN
fsr-3884	12	14	of	of	ADP
fsr-3884	12	15	return	return	NOUN
fsr-3884	12	16	and	and	CCONJ
fsr-3884	12	17	to	to	PART
fsr-3884	12	18	analyze	analyze	VERB
fsr-3884	12	19	the	the	DET
fsr-3884	12	20	relative	relative	ADJ
fsr-3884	12	21	contribution	contribution	NOUN
fsr-3884	12	22	of	of	ADP
fsr-3884	12	23	each	each	DET
fsr-3884	12	24	component	component	NOUN
fsr-3884	12	25	to	to	ADP
fsr-3884	12	26	total	total	ADJ
fsr-3884	12	27	return	return	NOUN
fsr-3884	12	28	.	.	PUNCT
fsr-3884	13	1	*	*	PUNCT
fsr-3884	13	2	corresponding	correspond	VERB
fsr-3884	13	3	author	author	NOUN
fsr-3884	13	4	.	.	PUNCT
fsr-3884	14	1	tel.:11	tel.:11	PROPN
fsr-3884	14	2	-	-	PUNCT
fsr-3884	14	3	315	315	NUM
fsr-3884	14	4	-	-	PUNCT
fsr-3884	14	5	268	268	NUM
fsr-3884	14	6	-	-	SYM
fsr-3884	14	7	3870	3870	NUM
fsr-3884	15	1	;	;	PUNCT
fsr-3884	15	2	fax:11	fax:11	PROPN
fsr-3884	15	3	-	-	PUNCT
fsr-3884	15	4	315	315	NUM
fsr-3884	15	5	-	-	PUNCT
fsr-3884	15	6	268	268	NUM
fsr-3884	15	7	-	-	SYM
fsr-3884	15	8	3810	3810	NUM
fsr-3884	15	9	.	.	PUNCT
fsr-3884	16	1	e	e	X
fsr-3884	16	2	-	-	NOUN
fsr-3884	16	3	mail	mail	NOUN
fsr-3884	16	4	address:macdonaj@clarkson.edu	address:macdonaj@clarkson.edu	NOUN
fsr-3884	16	5	(	(	PUNCT
fsr-3884	16	6	j.a	j.a	PROPN
fsr-3884	16	7	.	.	PROPN
fsr-3884	16	8	macdonald	macdonald	PROPN
fsr-3884	16	9	)	)	PUNCT
fsr-3884	16	10	financial	financial	ADJ
fsr-3884	16	11	services	service	NOUN
fsr-3884	16	12	review	review	VERB
fsr-3884	16	13	8	8	NUM
fsr-3884	16	14	(	(	PUNCT
fsr-3884	16	15	1999	1999	NUM
fsr-3884	16	16	)	)	PUNCT
fsr-3884	16	17	87–99	87–99	NUM
fsr-3884	16	18	1057	1057	NUM
fsr-3884	16	19	-	-	SYM
fsr-3884	16	20	0810/99/$	0810/99/$	NUM
fsr-3884	16	21	–	–	PUNCT
fsr-3884	16	22	see	see	VERB
fsr-3884	16	23	front	front	ADJ
fsr-3884	16	24	matter	matter	NOUN
fsr-3884	17	1	©	©	PROPN
fsr-3884	17	2	1999	1999	NUM
fsr-3884	17	3	elsevier	elsevier	PROPN
fsr-3884	17	4	science	science	PROPN
fsr-3884	17	5	inc	inc	PROPN
fsr-3884	17	6	.	.	PUNCT
fsr-3884	18	1	all	all	DET
fsr-3884	18	2	rights	right	NOUN
fsr-3884	18	3	reserved	reserve	VERB
fsr-3884	18	4	.	.	PUNCT
fsr-3884	19	1	pii	pii	NOUN
fsr-3884	19	2	:	:	PUNCT
fsr-3884	19	3	s1057	s1057	NOUN
fsr-3884	19	4	-	-	PUNCT
fsr-3884	19	5	0810(99)00035	0810(99)00035	NUM
fsr-3884	19	6	-	-	SYM
fsr-3884	19	7	9	9	NUM
fsr-3884	19	8	the	the	DET
fsr-3884	19	9	americus	americus	PROPN
fsr-3884	19	10	trust	trust	PROPN
fsr-3884	19	11	program	program	PROPN
fsr-3884	19	12	,	,	PUNCT
fsr-3884	19	13	a	a	DET
fsr-3884	19	14	derivative	derivative	ADJ
fsr-3884	19	15	security	security	NOUN
fsr-3884	19	16	innovation	innovation	NOUN
fsr-3884	19	17	of	of	ADP
fsr-3884	19	18	the	the	DET
fsr-3884	19	19	early	early	ADJ
fsr-3884	19	20	1980s	1980s	NUM
fsr-3884	19	21	,	,	PUNCT
fsr-3884	19	22	provided	provide	VERB
fsr-3884	19	23	a	a	DET
fsr-3884	19	24	means	means	NOUN
fsr-3884	19	25	of	of	ADP
fsr-3884	19	26	splitting	split	VERB
fsr-3884	19	27	the	the	DET
fsr-3884	19	28	return	return	NOUN
fsr-3884	19	29	of	of	ADP
fsr-3884	19	30	dividend	dividend	NOUN
fsr-3884	19	31	paying	pay	VERB
fsr-3884	19	32	firms	firm	NOUN
fsr-3884	19	33	into	into	ADP
fsr-3884	19	34	its	its	PRON
fsr-3884	19	35	two	two	NUM
fsr-3884	19	36	basic	basic	ADJ
fsr-3884	19	37	sources	source	NOUN
fsr-3884	19	38	.	.	PUNCT
fsr-3884	20	1	for	for	ADP
fsr-3884	20	2	about	about	ADV
fsr-3884	20	3	five	five	NUM
fsr-3884	20	4	years	year	NOUN
fsr-3884	20	5	,	,	PUNCT
fsr-3884	20	6	stockholders	stockholder	NOUN
fsr-3884	20	7	in	in	ADP
fsr-3884	20	8	27	27	NUM
fsr-3884	20	9	large	large	ADJ
fsr-3884	20	10	companies	company	NOUN
fsr-3884	20	11	had	have	VERB
fsr-3884	20	12	the	the	DET
fsr-3884	20	13	opportunity	opportunity	NOUN
fsr-3884	20	14	to	to	PART
fsr-3884	20	15	tender	tender	VERB
fsr-3884	20	16	their	their	PRON
fsr-3884	20	17	shares	share	NOUN
fsr-3884	20	18	to	to	ADP
fsr-3884	20	19	the	the	DET
fsr-3884	20	20	americus	americus	PROPN
fsr-3884	20	21	shareowner	shareowner	PROPN
fsr-3884	20	22	service	service	NOUN
fsr-3884	20	23	corporation	corporation	NOUN
fsr-3884	20	24	in	in	ADP
fsr-3884	20	25	exchange	exchange	NOUN
fsr-3884	20	26	for	for	ADP
fsr-3884	20	27	a	a	DET
fsr-3884	20	28	new	new	ADJ
fsr-3884	20	29	security	security	NOUN
fsr-3884	20	30	known	know	VERB
fsr-3884	20	31	as	as	ADP
fsr-3884	20	32	a	a	DET
fsr-3884	20	33	unit	unit	NOUN
fsr-3884	20	34	.	.	PUNCT
fsr-3884	21	1	the	the	DET
fsr-3884	21	2	certificate	certificate	NOUN
fsr-3884	21	3	for	for	ADP
fsr-3884	21	4	each	each	DET
fsr-3884	21	5	unit	unit	NOUN
fsr-3884	21	6	was	be	AUX
fsr-3884	21	7	perforated	perforate	VERB
fsr-3884	21	8	and	and	CCONJ
fsr-3884	21	9	divisible	divisible	ADJ
fsr-3884	21	10	into	into	ADP
fsr-3884	21	11	aprime(prescribed	aprime(prescribed	ADJ
fsr-3884	21	12	right	right	NOUN
fsr-3884	21	13	to	to	PART
fsr-3884	21	14	income	income	VERB
fsr-3884	21	15	and	and	CCONJ
fsr-3884	21	16	maximum	maximum	ADJ
fsr-3884	21	17	equity	equity	NOUN
fsr-3884	21	18	)	)	PUNCT
fsr-3884	21	19	and	and	CCONJ
fsr-3884	21	20	ascore(special	ascore(special	ADJ
fsr-3884	21	21	claim	claim	NOUN
fsr-3884	21	22	on	on	ADP
fsr-3884	21	23	residual	residual	ADJ
fsr-3884	21	24	equity	equity	NOUN
fsr-3884	21	25	)	)	PUNCT
fsr-3884	21	26	,	,	PUNCT
fsr-3884	21	27	each	each	PRON
fsr-3884	21	28	of	of	ADP
fsr-3884	21	29	which	which	PRON
fsr-3884	21	30	traded	trade	VERB
fsr-3884	21	31	separately	separately	ADV
fsr-3884	21	32	.	.	PUNCT
fsr-3884	22	1	primes	prime	NOUN
fsr-3884	22	2	gave	give	VERB
fsr-3884	22	3	investors	investor	NOUN
fsr-3884	22	4	the	the	DET
fsr-3884	22	5	right	right	NOUN
fsr-3884	22	6	to	to	ADP
fsr-3884	22	7	the	the	DET
fsr-3884	22	8	firm	firm	NOUN
fsr-3884	22	9	’s	’s	PART
fsr-3884	22	10	quarterly	quarterly	ADJ
fsr-3884	22	11	dividend	dividend	NOUN
fsr-3884	22	12	income	income	NOUN
fsr-3884	22	13	plus	plus	CCONJ
fsr-3884	22	14	a	a	DET
fsr-3884	22	15	fixed	fix	VERB
fsr-3884	22	16	termination	termination	NOUN
fsr-3884	22	17	value	value	NOUN
fsr-3884	22	18	,	,	PUNCT
fsr-3884	22	19	on	on	ADV
fsr-3884	22	20	or	or	CCONJ
fsr-3884	22	21	before	before	ADP
fsr-3884	22	22	a	a	DET
fsr-3884	22	23	stated	state	VERB
fsr-3884	22	24	termination	termination	NOUN
fsr-3884	22	25	date	date	NOUN
fsr-3884	22	26	.	.	PUNCT
fsr-3884	23	1	a	a	DET
fsr-3884	23	2	prime	prime	NOUN
fsr-3884	23	3	closely	closely	ADV
fsr-3884	23	4	resembled	resemble	VERB
fsr-3884	23	5	a	a	DET
fsr-3884	23	6	corporate	corporate	ADJ
fsr-3884	23	7	bond	bond	NOUN
fsr-3884	23	8	,	,	PUNCT
fsr-3884	23	9	especially	especially	ADV
fsr-3884	23	10	when	when	SCONJ
fsr-3884	23	11	the	the	DET
fsr-3884	23	12	stock	stock	NOUN
fsr-3884	23	13	price	price	NOUN
fsr-3884	23	14	exceeded	exceed	VERB
fsr-3884	23	15	the	the	DET
fsr-3884	23	16	termination	termination	NOUN
fsr-3884	23	17	value	value	NOUN
fsr-3884	23	18	.	.	PUNCT
fsr-3884	24	1	scores	score	NOUN
fsr-3884	24	2	represented	represent	VERB
fsr-3884	24	3	the	the	DET
fsr-3884	24	4	right	right	NOUN
fsr-3884	24	5	to	to	ADP
fsr-3884	24	6	a	a	DET
fsr-3884	24	7	stock	stock	NOUN
fsr-3884	24	8	’s	’s	PART
fsr-3884	24	9	capital	capital	NOUN
fsr-3884	24	10	gains	gain	NOUN
fsr-3884	24	11	,	,	PUNCT
fsr-3884	24	12	that	that	SCONJ
fsr-3884	24	13	for	for	ADP
fsr-3884	24	14	americus	americus	NOUN
fsr-3884	24	15	trusts	trust	NOUN
fsr-3884	24	16	are	be	AUX
fsr-3884	24	17	the	the	DET
fsr-3884	24	18	excess	excess	NOUN
fsr-3884	24	19	of	of	ADP
fsr-3884	24	20	the	the	DET
fsr-3884	24	21	underlying	underlie	VERB
fsr-3884	24	22	stock	stock	NOUN
fsr-3884	24	23	’s	’s	PART
fsr-3884	24	24	price	price	NOUN
fsr-3884	24	25	over	over	ADP
fsr-3884	24	26	the	the	DET
fsr-3884	24	27	termination	termination	NOUN
fsr-3884	24	28	value	value	NOUN
fsr-3884	24	29	.	.	PUNCT
fsr-3884	25	1	scores	score	NOUN
fsr-3884	25	2	,	,	PUNCT
fsr-3884	25	3	that	that	PRON
fsr-3884	25	4	shared	share	VERB
fsr-3884	25	5	the	the	DET
fsr-3884	25	6	primes	prime	NOUN
fsr-3884	25	7	’	'	PUNCT
fsr-3884	25	8	termination	termination	NOUN
fsr-3884	25	9	dates	date	NOUN
fsr-3884	25	10	,	,	PUNCT
fsr-3884	25	11	were	be	AUX
fsr-3884	25	12	much	much	ADV
fsr-3884	25	13	like	like	ADP
fsr-3884	25	14	long	long	ADJ
fsr-3884	25	15	-	-	PUNCT
fsr-3884	25	16	term	term	NOUN
fsr-3884	25	17	call	call	NOUN
fsr-3884	25	18	options	option	NOUN
fsr-3884	25	19	.	.	PUNCT
fsr-3884	26	1	up	up	ADP
fsr-3884	26	2	to	to	PART
fsr-3884	26	3	5	5	NUM
fsr-3884	26	4	%	%	NOUN
fsr-3884	26	5	of	of	ADP
fsr-3884	26	6	each	each	DET
fsr-3884	26	7	firm	firm	NOUN
fsr-3884	26	8	’s	’s	PART
fsr-3884	26	9	outstanding	outstanding	ADJ
fsr-3884	26	10	stock	stock	NOUN
fsr-3884	26	11	could	could	AUX
fsr-3884	26	12	be	be	AUX
fsr-3884	26	13	exchanged	exchange	VERB
fsr-3884	26	14	for	for	ADP
fsr-3884	26	15	americus	americus	PROPN
fsr-3884	26	16	trust	trust	PROPN
fsr-3884	26	17	securities	security	NOUN
fsr-3884	26	18	.	.	PUNCT
fsr-3884	27	1	after	after	SCONJ
fsr-3884	27	2	5	5	NUM
fsr-3884	27	3	%	%	NOUN
fsr-3884	27	4	of	of	ADP
fsr-3884	27	5	a	a	DET
fsr-3884	27	6	firm	firm	NOUN
fsr-3884	27	7	’s	’s	PART
fsr-3884	27	8	shares	share	NOUN
fsr-3884	27	9	were	be	AUX
fsr-3884	27	10	tendered	tender	VERB
fsr-3884	27	11	the	the	DET
fsr-3884	27	12	trust	trust	NOUN
fsr-3884	27	13	closed	close	VERB
fsr-3884	27	14	,	,	PUNCT
fsr-3884	27	15	and	and	CCONJ
fsr-3884	27	16	the	the	DET
fsr-3884	27	17	primes	prime	NOUN
fsr-3884	27	18	,	,	PUNCT
fsr-3884	27	19	scores	score	NOUN
fsr-3884	27	20	,	,	PUNCT
fsr-3884	27	21	and	and	CCONJ
fsr-3884	27	22	units	unit	NOUN
fsr-3884	27	23	were	be	AUX
fsr-3884	27	24	obtainable	obtainable	ADJ
fsr-3884	27	25	only	only	ADV
fsr-3884	27	26	in	in	ADP
fsr-3884	27	27	the	the	DET
fsr-3884	27	28	secondary	secondary	ADJ
fsr-3884	27	29	market	market	NOUN
fsr-3884	27	30	.	.	PUNCT
fsr-3884	28	1	tax	tax	NOUN
fsr-3884	28	2	rulings	ruling	NOUN
fsr-3884	28	3	by	by	ADP
fsr-3884	28	4	the	the	DET
fsr-3884	28	5	irs	irs	PROPN
fsr-3884	28	6	have	have	AUX
fsr-3884	28	7	discouraged	discourage	VERB
fsr-3884	28	8	the	the	DET
fsr-3884	28	9	formation	formation	NOUN
fsr-3884	28	10	of	of	ADP
fsr-3884	28	11	any	any	DET
fsr-3884	28	12	new	new	ADJ
fsr-3884	28	13	trusts	trust	NOUN
fsr-3884	28	14	identical	identical	ADJ
fsr-3884	28	15	to	to	ADP
fsr-3884	28	16	the	the	DET
fsr-3884	28	17	original	original	ADJ
fsr-3884	28	18	series	series	NOUN
fsr-3884	28	19	.	.	PUNCT
fsr-3884	29	1	the	the	DET
fsr-3884	29	2	last	last	ADJ
fsr-3884	29	3	remaining	remain	VERB
fsr-3884	29	4	primes	prime	NOUN
fsr-3884	29	5	and	and	CCONJ
fsr-3884	29	6	scores	score	NOUN
fsr-3884	29	7	expired	expire	VERB
fsr-3884	29	8	in	in	ADP
fsr-3884	29	9	august	august	PROPN
fsr-3884	29	10	1992	1992	NUM
fsr-3884	29	11	;	;	PUNCT
fsr-3884	29	12	however	however	ADV
fsr-3884	29	13	,	,	PUNCT
fsr-3884	29	14	the	the	DET
fsr-3884	29	15	ephemeral	ephemeral	ADJ
fsr-3884	29	16	existence	existence	NOUN
fsr-3884	29	17	of	of	ADP
fsr-3884	29	18	the	the	DET
fsr-3884	29	19	trusts	trust	NOUN
fsr-3884	29	20	does	do	AUX
fsr-3884	29	21	not	not	PART
fsr-3884	29	22	diminish	diminish	VERB
fsr-3884	29	23	their	their	PRON
fsr-3884	29	24	relevance	relevance	NOUN
fsr-3884	29	25	to	to	ADP
fsr-3884	29	26	the	the	DET
fsr-3884	29	27	financial	financial	ADJ
fsr-3884	29	28	markets	market	NOUN
fsr-3884	29	29	,	,	PUNCT
fsr-3884	29	30	for	for	ADP
fsr-3884	29	31	several	several	ADJ
fsr-3884	29	32	reasons	reason	NOUN
fsr-3884	29	33	.	.	PUNCT
fsr-3884	30	1	first	first	ADV
fsr-3884	30	2	,	,	PUNCT
fsr-3884	30	3	the	the	DET
fsr-3884	30	4	popularity	popularity	NOUN
fsr-3884	30	5	of	of	ADP
fsr-3884	30	6	long	long	ADJ
fsr-3884	30	7	-	-	PUNCT
fsr-3884	30	8	term	term	NOUN
fsr-3884	30	9	call	call	NOUN
fsr-3884	30	10	options	option	NOUN
fsr-3884	30	11	has	have	AUX
fsr-3884	30	12	increased	increase	VERB
fsr-3884	30	13	greatly	greatly	ADV
fsr-3884	30	14	,	,	PUNCT
fsr-3884	30	15	as	as	SCONJ
fsr-3884	30	16	the	the	DET
fsr-3884	30	17	major	major	ADJ
fsr-3884	30	18	exchanges	exchange	NOUN
fsr-3884	30	19	have	have	AUX
fsr-3884	30	20	listed	list	VERB
fsr-3884	30	21	leaps	leap	NOUN
fsr-3884	30	22	,	,	PUNCT
fsr-3884	30	23	options	option	NOUN
fsr-3884	30	24	with	with	ADP
fsr-3884	30	25	expiration	expiration	NOUN
fsr-3884	30	26	periods	period	NOUN
fsr-3884	30	27	of	of	ADP
fsr-3884	30	28	up	up	ADP
fsr-3884	30	29	to	to	PART
fsr-3884	30	30	39	39	NUM
fsr-3884	30	31	months	month	NOUN
fsr-3884	30	32	,	,	PUNCT
fsr-3884	30	33	on	on	ADP
fsr-3884	30	34	over	over	ADP
fsr-3884	30	35	300	300	NUM
fsr-3884	30	36	individual	individual	ADJ
fsr-3884	30	37	stocks	stock	NOUN
fsr-3884	30	38	and	and	CCONJ
fsr-3884	30	39	about	about	ADV
fsr-3884	30	40	a	a	DET
fsr-3884	30	41	dozen	dozen	NOUN
fsr-3884	30	42	indexes	index	NOUN
fsr-3884	30	43	.	.	PUNCT
fsr-3884	31	1	second	second	ADJ
fsr-3884	31	2	,	,	PUNCT
fsr-3884	31	3	a	a	DET
fsr-3884	31	4	new	new	ADJ
fsr-3884	31	5	generation	generation	NOUN
fsr-3884	31	6	of	of	ADP
fsr-3884	31	7	similar	similar	ADJ
fsr-3884	31	8	trusts	trust	NOUN
fsr-3884	31	9	may	may	AUX
fsr-3884	31	10	emerge	emerge	VERB
fsr-3884	31	11	.	.	PUNCT
fsr-3884	32	1	any	any	DET
fsr-3884	32	2	new	new	ADJ
fsr-3884	32	3	americus	americus	NOUN
fsr-3884	32	4	trusts	trust	NOUN
fsr-3884	32	5	will	will	AUX
fsr-3884	32	6	,	,	PUNCT
fsr-3884	32	7	of	of	ADP
fsr-3884	32	8	course	course	NOUN
fsr-3884	32	9	,	,	PUNCT
fsr-3884	32	10	have	have	VERB
fsr-3884	32	11	to	to	PART
fsr-3884	32	12	comply	comply	VERB
fsr-3884	32	13	with	with	ADP
fsr-3884	32	14	the	the	DET
fsr-3884	32	15	irs	irs	PROPN
fsr-3884	32	16	ruling	ruling	NOUN
fsr-3884	32	17	that	that	PRON
fsr-3884	32	18	doomed	doom	VERB
fsr-3884	32	19	the	the	DET
fsr-3884	32	20	first	first	ADJ
fsr-3884	32	21	generation	generation	NOUN
fsr-3884	32	22	.	.	PUNCT
fsr-3884	33	1	the	the	DET
fsr-3884	33	2	new	new	ADJ
fsr-3884	33	3	securities	security	NOUN
fsr-3884	33	4	may	may	AUX
fsr-3884	33	5	even	even	ADV
fsr-3884	33	6	be	be	AUX
fsr-3884	33	7	issued	issue	VERB
fsr-3884	33	8	by	by	ADP
fsr-3884	33	9	the	the	DET
fsr-3884	33	10	respective	respective	ADJ
fsr-3884	33	11	firms	firm	NOUN
fsr-3884	33	12	themselves	themselves	PRON
fsr-3884	33	13	,	,	PUNCT
fsr-3884	33	14	involve	involve	VERB
fsr-3884	33	15	more	more	ADJ
fsr-3884	33	16	than	than	ADP
fsr-3884	33	17	5	5	NUM
fsr-3884	33	18	%	%	NOUN
fsr-3884	33	19	of	of	ADP
fsr-3884	33	20	the	the	DET
fsr-3884	33	21	stock	stock	NOUN
fsr-3884	33	22	,	,	PUNCT
fsr-3884	33	23	and	and	CCONJ
fsr-3884	33	24	thus	thus	ADV
fsr-3884	33	25	enhance	enhance	VERB
fsr-3884	33	26	their	their	PRON
fsr-3884	33	27	importance	importance	NOUN
fsr-3884	33	28	relative	relative	ADJ
fsr-3884	33	29	to	to	ADP
fsr-3884	33	30	the	the	DET
fsr-3884	33	31	original	original	ADJ
fsr-3884	33	32	trusts	trust	NOUN
fsr-3884	33	33	.	.	PUNCT
fsr-3884	34	1	third	third	ADJ
fsr-3884	34	2	,	,	PUNCT
fsr-3884	34	3	primes	prime	NOUN
fsr-3884	34	4	and	and	CCONJ
fsr-3884	34	5	scores	score	NOUN
fsr-3884	34	6	provide	provide	VERB
fsr-3884	34	7	a	a	DET
fsr-3884	34	8	means	means	NOUN
fsr-3884	34	9	of	of	ADP
fsr-3884	34	10	examining	examine	VERB
fsr-3884	34	11	financial	financial	ADJ
fsr-3884	34	12	issues	issue	NOUN
fsr-3884	34	13	that	that	PRON
fsr-3884	34	14	would	would	AUX
fsr-3884	34	15	otherwise	otherwise	ADV
fsr-3884	34	16	be	be	AUX
fsr-3884	34	17	more	more	ADV
fsr-3884	34	18	difficult	difficult	ADJ
fsr-3884	34	19	or	or	CCONJ
fsr-3884	34	20	impossible	impossible	ADJ
fsr-3884	34	21	to	to	PART
fsr-3884	34	22	address	address	VERB
fsr-3884	34	23	.	.	PUNCT
fsr-3884	35	1	a	a	DET
fsr-3884	35	2	case	case	NOUN
fsr-3884	35	3	in	in	ADP
fsr-3884	35	4	point	point	NOUN
fsr-3884	35	5	is	be	AUX
fsr-3884	35	6	research	research	NOUN
fsr-3884	35	7	by	by	ADP
fsr-3884	35	8	venkatesh	venkatesh	PROPN
fsr-3884	35	9	(	(	PUNCT
fsr-3884	35	10	1991	1991	NUM
fsr-3884	35	11	)	)	PUNCT
fsr-3884	35	12	,	,	PUNCT
fsr-3884	35	13	that	that	PRON
fsr-3884	35	14	shows	show	VERB
fsr-3884	35	15	how	how	SCONJ
fsr-3884	35	16	americus	americus	PROPN
fsr-3884	35	17	trust	trust	PROPN
fsr-3884	35	18	securities	security	NOUN
fsr-3884	35	19	can	can	AUX
fsr-3884	35	20	be	be	AUX
fsr-3884	35	21	used	use	VERB
fsr-3884	35	22	to	to	PART
fsr-3884	35	23	analyze	analyze	VERB
fsr-3884	35	24	dividend	dividend	NOUN
fsr-3884	35	25	capture	capture	NOUN
fsr-3884	35	26	trading	trading	NOUN
fsr-3884	35	27	.	.	PUNCT
fsr-3884	36	1	finally	finally	ADV
fsr-3884	36	2	,	,	PUNCT
fsr-3884	36	3	dual	dual	ADJ
fsr-3884	36	4	-	-	PUNCT
fsr-3884	36	5	purpose	purpose	NOUN
fsr-3884	36	6	funds	fund	NOUN
fsr-3884	36	7	currently	currently	ADV
fsr-3884	36	8	exist	exist	VERB
fsr-3884	36	9	for	for	ADP
fsr-3884	36	10	investors	investor	NOUN
fsr-3884	36	11	that	that	PRON
fsr-3884	36	12	allow	allow	VERB
fsr-3884	36	13	investors	investor	NOUN
fsr-3884	36	14	to	to	PART
fsr-3884	36	15	select	select	VERB
fsr-3884	36	16	current	current	ADJ
fsr-3884	36	17	income	income	NOUN
fsr-3884	36	18	return	return	NOUN
fsr-3884	36	19	or	or	CCONJ
fsr-3884	36	20	long	long	ADJ
fsr-3884	36	21	-	-	PUNCT
fsr-3884	36	22	term	term	NOUN
fsr-3884	36	23	return	return	NOUN
fsr-3884	36	24	from	from	ADP
fsr-3884	36	25	funds	fund	NOUN
fsr-3884	36	26	of	of	ADP
fsr-3884	36	27	stocks	stock	NOUN
fsr-3884	36	28	and	and	CCONJ
fsr-3884	36	29	bonds	bond	NOUN
fsr-3884	36	30	.	.	PUNCT
fsr-3884	37	1	the	the	DET
fsr-3884	37	2	present	present	ADJ
fsr-3884	37	3	study	study	NOUN
fsr-3884	37	4	uses	use	VERB
fsr-3884	37	5	americus	americus	PROPN
fsr-3884	37	6	trust	trust	PROPN
fsr-3884	37	7	securities	security	NOUN
fsr-3884	37	8	to	to	PART
fsr-3884	37	9	decompose	decompose	VERB
fsr-3884	37	10	the	the	DET
fsr-3884	37	11	stock	stock	NOUN
fsr-3884	37	12	market	market	NOUN
fsr-3884	37	13	’s	’s	PART
fsr-3884	37	14	response	response	NOUN
fsr-3884	37	15	to	to	ADP
fsr-3884	37	16	earnings	earning	NOUN
fsr-3884	37	17	surprises	surprise	NOUN
fsr-3884	37	18	into	into	ADP
fsr-3884	37	19	its	its	PRON
fsr-3884	37	20	constituent	constituent	ADJ
fsr-3884	37	21	parts	part	NOUN
fsr-3884	37	22	.	.	PUNCT
fsr-3884	38	1	the	the	DET
fsr-3884	38	2	division	division	NOUN
fsr-3884	38	3	of	of	ADP
fsr-3884	38	4	returns	return	NOUN
fsr-3884	38	5	to	to	ADP
fsr-3884	38	6	investors	investor	NOUN
fsr-3884	38	7	attributable	attributable	ADJ
fsr-3884	38	8	to	to	ADP
fsr-3884	38	9	expected	expect	VERB
fsr-3884	38	10	dividends	dividend	NOUN
fsr-3884	38	11	versus	versus	ADP
fsr-3884	38	12	stock	stock	NOUN
fsr-3884	38	13	price	price	NOUN
fsr-3884	38	14	changes	change	NOUN
fsr-3884	38	15	is	be	AUX
fsr-3884	38	16	found	find	VERB
fsr-3884	38	17	to	to	PART
fsr-3884	38	18	be	be	AUX
fsr-3884	38	19	roughly	roughly	ADV
fsr-3884	38	20	30	30	NUM
fsr-3884	38	21	versus	versus	ADP
fsr-3884	38	22	70	70	NUM
fsr-3884	38	23	%	%	NOUN
fsr-3884	38	24	.	.	PUNCT
fsr-3884	39	1	analysis	analysis	NOUN
fsr-3884	39	2	of	of	ADP
fsr-3884	39	3	these	these	DET
fsr-3884	39	4	proportions	proportion	NOUN
fsr-3884	39	5	shows	show	VERB
fsr-3884	39	6	them	they	PRON
fsr-3884	39	7	to	to	PART
fsr-3884	39	8	be	be	AUX
fsr-3884	39	9	remarkably	remarkably	ADV
fsr-3884	39	10	constant	constant	ADJ
fsr-3884	39	11	across	across	ADP
fsr-3884	39	12	a	a	DET
fsr-3884	39	13	number	number	NOUN
fsr-3884	39	14	of	of	ADP
fsr-3884	39	15	dimensions	dimension	NOUN
fsr-3884	39	16	,	,	PUNCT
fsr-3884	39	17	including	include	VERB
fsr-3884	39	18	corporate	corporate	ADJ
fsr-3884	39	19	payout	payout	NOUN
fsr-3884	39	20	policies	policy	NOUN
fsr-3884	39	21	,	,	PUNCT
fsr-3884	39	22	earnings	earning	NOUN
fsr-3884	39	23	estimation	estimation	NOUN
fsr-3884	39	24	models	model	NOUN
fsr-3884	39	25	,	,	PUNCT
fsr-3884	39	26	and	and	CCONJ
fsr-3884	39	27	abnormal	abnormal	ADJ
fsr-3884	39	28	return	return	NOUN
fsr-3884	39	29	measures	measure	NOUN
fsr-3884	39	30	.	.	PUNCT
fsr-3884	40	1	2	2	X
fsr-3884	40	2	.	.	X
fsr-3884	40	3	literature	literature	NOUN
fsr-3884	40	4	review	review	PROPN
fsr-3884	40	5	and	and	CCONJ
fsr-3884	40	6	testable	testable	ADJ
fsr-3884	40	7	hypotheses	hypothesis	NOUN
fsr-3884	40	8	2.1	2.1	NUM
fsr-3884	40	9	.	.	PUNCT
fsr-3884	41	1	americus	americus	PROPN
fsr-3884	41	2	trust	trust	PROPN
fsr-3884	41	3	securities	securitie	VERB
fsr-3884	41	4	the	the	DET
fsr-3884	41	5	finance	finance	NOUN
fsr-3884	41	6	literature	literature	NOUN
fsr-3884	41	7	has	have	AUX
fsr-3884	41	8	investigated	investigate	VERB
fsr-3884	41	9	primes	prime	NOUN
fsr-3884	41	10	and	and	CCONJ
fsr-3884	41	11	scores	score	NOUN
fsr-3884	41	12	from	from	ADP
fsr-3884	41	13	a	a	DET
fsr-3884	41	14	variety	variety	NOUN
fsr-3884	41	15	of	of	ADP
fsr-3884	41	16	perspectives	perspective	NOUN
fsr-3884	41	17	.	.	PUNCT
fsr-3884	42	1	jarrow	jarrow	PROPN
fsr-3884	42	2	and	and	CCONJ
fsr-3884	42	3	o’hara	o’hara	PROPN
fsr-3884	42	4	(	(	PUNCT
fsr-3884	42	5	1989	1989	NUM
fsr-3884	42	6	)	)	PUNCT
fsr-3884	42	7	examine	examine	VERB
fsr-3884	42	8	the	the	DET
fsr-3884	42	9	possible	possible	ADJ
fsr-3884	42	10	mispricing	mispricing	NOUN
fsr-3884	42	11	of	of	ADP
fsr-3884	42	12	primes	prime	NOUN
fsr-3884	42	13	and	and	CCONJ
fsr-3884	42	14	scores	score	NOUN
fsr-3884	42	15	relative	relative	ADJ
fsr-3884	42	16	to	to	ADP
fsr-3884	42	17	the	the	DET
fsr-3884	42	18	underlying	underlie	VERB
fsr-3884	42	19	stocks	stock	NOUN
fsr-3884	42	20	.	.	PUNCT
fsr-3884	43	1	after	after	ADP
fsr-3884	43	2	controlling	control	VERB
fsr-3884	43	3	for	for	ADP
fsr-3884	43	4	transaction	transaction	NOUN
fsr-3884	43	5	costs	cost	NOUN
fsr-3884	43	6	,	,	PUNCT
fsr-3884	43	7	they	they	PRON
fsr-3884	43	8	find	find	VERB
fsr-3884	43	9	that	that	SCONJ
fsr-3884	43	10	the	the	DET
fsr-3884	43	11	underlying	underlie	VERB
fsr-3884	43	12	88	88	NUM
fsr-3884	43	13	j.a	j.a	PROPN
fsr-3884	43	14	.	.	PROPN
fsr-3884	44	1	macdonald	macdonald	PROPN
fsr-3884	44	2	,	,	PUNCT
fsr-3884	44	3	d.m	d.m	PROPN
fsr-3884	44	4	.	.	PUNCT
fsr-3884	44	5	smith	smith	PROPN
fsr-3884	44	6	/	/	SYM
fsr-3884	44	7	financial	financial	ADJ
fsr-3884	44	8	services	service	NOUN
fsr-3884	44	9	review	review	VERB
fsr-3884	44	10	8	8	NUM
fsr-3884	44	11	(	(	PUNCT
fsr-3884	44	12	1999	1999	NUM
fsr-3884	44	13	)	)	PUNCT
fsr-3884	44	14	87–99	87–99	NUM
fsr-3884	44	15	stock	stock	NOUN
fsr-3884	44	16	consistently	consistently	ADV
fsr-3884	44	17	sold	sell	VERB
fsr-3884	44	18	at	at	ADP
fsr-3884	44	19	a	a	DET
fsr-3884	44	20	discount	discount	NOUN
fsr-3884	44	21	relative	relative	ADJ
fsr-3884	44	22	to	to	ADP
fsr-3884	44	23	americus	americus	PROPN
fsr-3884	44	24	trust	trust	PROPN
fsr-3884	44	25	instruments	instrument	NOUN
fsr-3884	44	26	.	.	PUNCT
fsr-3884	45	1	the	the	DET
fsr-3884	45	2	authors	author	NOUN
fsr-3884	45	3	conclude	conclude	VERB
fsr-3884	45	4	that	that	SCONJ
fsr-3884	45	5	this	this	DET
fsr-3884	45	6	disparity	disparity	NOUN
fsr-3884	45	7	arises	arise	VERB
fsr-3884	45	8	from	from	ADP
fsr-3884	45	9	regulatory	regulatory	ADJ
fsr-3884	45	10	constraints	constraint	NOUN
fsr-3884	45	11	on	on	ADP
fsr-3884	45	12	short	short	ADJ
fsr-3884	45	13	sales	sale	NOUN
fsr-3884	45	14	of	of	ADP
fsr-3884	45	15	common	common	ADJ
fsr-3884	45	16	stock	stock	NOUN
fsr-3884	45	17	,	,	PUNCT
fsr-3884	45	18	with	with	ADP
fsr-3884	45	19	trading	trading	NOUN
fsr-3884	45	20	in	in	ADP
fsr-3884	45	21	primes	prime	NOUN
fsr-3884	45	22	and	and	CCONJ
fsr-3884	45	23	scores	score	NOUN
fsr-3884	45	24	possibly	possibly	ADV
fsr-3884	45	25	serving	serve	VERB
fsr-3884	45	26	as	as	ADP
fsr-3884	45	27	an	an	DET
fsr-3884	45	28	attractive	attractive	ADJ
fsr-3884	45	29	hedging	hedging	NOUN
fsr-3884	45	30	alternative	alternative	NOUN
fsr-3884	45	31	to	to	ADP
fsr-3884	45	32	short	short	ADJ
fsr-3884	45	33	selling	selling	NOUN
fsr-3884	45	34	.	.	PUNCT
fsr-3884	46	1	thus	thus	ADV
fsr-3884	46	2	,	,	PUNCT
fsr-3884	46	3	the	the	DET
fsr-3884	46	4	effect	effect	NOUN
fsr-3884	46	5	that	that	PRON
fsr-3884	46	6	jarrow	jarrow	PROPN
fsr-3884	46	7	and	and	CCONJ
fsr-3884	46	8	o’hara	o’hara	PROPN
fsr-3884	46	9	observe	observe	VERB
fsr-3884	46	10	may	may	AUX
fsr-3884	46	11	represent	represent	VERB
fsr-3884	46	12	demand	demand	NOUN
fsr-3884	46	13	for	for	ADP
fsr-3884	46	14	americus	americus	PROPN
fsr-3884	46	15	trust	trust	PROPN
fsr-3884	46	16	securities	security	NOUN
fsr-3884	46	17	driven	drive	VERB
fsr-3884	46	18	by	by	ADP
fsr-3884	46	19	a	a	DET
fsr-3884	46	20	paucity	paucity	NOUN
fsr-3884	46	21	of	of	ADP
fsr-3884	46	22	hedging	hedging	NOUN
fsr-3884	46	23	vehicles	vehicle	NOUN
fsr-3884	46	24	for	for	ADP
fsr-3884	46	25	firms	firm	NOUN
fsr-3884	46	26	’	’	PART
fsr-3884	46	27	stock	stock	NOUN
fsr-3884	46	28	.	.	PUNCT
fsr-3884	47	1	despite	despite	SCONJ
fsr-3884	47	2	the	the	DET
fsr-3884	47	3	pricing	pricing	NOUN
fsr-3884	47	4	disparities	disparity	NOUN
fsr-3884	47	5	noted	note	VERB
fsr-3884	47	6	,	,	PUNCT
fsr-3884	47	7	transaction	transaction	NOUN
fsr-3884	47	8	costs	cost	NOUN
fsr-3884	47	9	are	be	AUX
fsr-3884	47	10	found	find	VERB
fsr-3884	47	11	to	to	PART
fsr-3884	47	12	be	be	AUX
fsr-3884	47	13	large	large	ADJ
fsr-3884	47	14	enough	enough	ADV
fsr-3884	47	15	to	to	PART
fsr-3884	47	16	prevent	prevent	VERB
fsr-3884	47	17	systematic	systematic	ADJ
fsr-3884	47	18	gains	gain	NOUN
fsr-3884	47	19	from	from	ADP
fsr-3884	47	20	arbitrage	arbitrage	NOUN
fsr-3884	47	21	.	.	PUNCT
fsr-3884	48	1	in	in	ADP
fsr-3884	48	2	another	another	DET
fsr-3884	48	3	comparison	comparison	NOUN
fsr-3884	48	4	of	of	ADP
fsr-3884	48	5	stocks	stock	NOUN
fsr-3884	48	6	and	and	CCONJ
fsr-3884	48	7	their	their	PRON
fsr-3884	48	8	americus	americus	PROPN
fsr-3884	48	9	trust	trust	PROPN
fsr-3884	48	10	counterparts	counterparts	PROPN
fsr-3884	48	11	,	,	PUNCT
fsr-3884	48	12	deshpande	deshpande	NOUN
fsr-3884	48	13	and	and	CCONJ
fsr-3884	48	14	jog	jog	PROPN
fsr-3884	48	15	(	(	PUNCT
fsr-3884	48	16	1989	1989	NUM
fsr-3884	48	17	)	)	PUNCT
fsr-3884	48	18	compute	compute	NOUN
fsr-3884	48	19	average	average	ADJ
fsr-3884	48	20	betas	beta	NOUN
fsr-3884	48	21	for	for	ADP
fsr-3884	48	22	stocks	stock	NOUN
fsr-3884	48	23	(	(	PUNCT
fsr-3884	48	24	1.07	1.07	NUM
fsr-3884	48	25	)	)	PUNCT
fsr-3884	48	26	,	,	PUNCT
fsr-3884	48	27	primes	prime	NOUN
fsr-3884	48	28	(	(	PUNCT
fsr-3884	48	29	.45	.45	NUM
fsr-3884	48	30	)	)	PUNCT
fsr-3884	48	31	,	,	PUNCT
fsr-3884	48	32	and	and	CCONJ
fsr-3884	48	33	scores	score	NOUN
fsr-3884	48	34	(	(	PUNCT
fsr-3884	48	35	5.06	5.06	NUM
fsr-3884	48	36	)	)	PUNCT
fsr-3884	48	37	.	.	PUNCT
fsr-3884	49	1	the	the	DET
fsr-3884	49	2	unusually	unusually	ADV
fsr-3884	49	3	high	high	ADJ
fsr-3884	49	4	volatility	volatility	NOUN
fsr-3884	49	5	for	for	ADP
fsr-3884	49	6	the	the	DET
fsr-3884	49	7	scores	score	NOUN
fsr-3884	49	8	probably	probably	ADV
fsr-3884	49	9	reflects	reflect	VERB
fsr-3884	49	10	the	the	DET
fsr-3884	49	11	fact	fact	NOUN
fsr-3884	49	12	that	that	SCONJ
fsr-3884	49	13	most	most	ADJ
fsr-3884	49	14	scores	score	NOUN
fsr-3884	49	15	are	be	AUX
fsr-3884	49	16	near	near	ADP
fsr-3884	49	17	the	the	DET
fsr-3884	49	18	money	money	NOUN
fsr-3884	49	19	(	(	PUNCT
fsr-3884	49	20	termination	termination	NOUN
fsr-3884	49	21	value	value	NOUN
fsr-3884	49	22	)	)	PUNCT
fsr-3884	49	23	during	during	ADP
fsr-3884	49	24	the	the	DET
fsr-3884	49	25	measurement	measurement	NOUN
fsr-3884	49	26	period	period	NOUN
fsr-3884	49	27	.	.	PUNCT
fsr-3884	50	1	of	of	ADP
fsr-3884	50	2	course	course	NOUN
fsr-3884	50	3	,	,	PUNCT
fsr-3884	50	4	were	be	AUX
fsr-3884	50	5	a	a	DET
fsr-3884	50	6	stock	stock	NOUN
fsr-3884	50	7	price	price	NOUN
fsr-3884	50	8	well	well	ADV
fsr-3884	50	9	above	above	ADP
fsr-3884	50	10	the	the	DET
fsr-3884	50	11	termination	termination	NOUN
fsr-3884	50	12	value	value	NOUN
fsr-3884	50	13	,	,	PUNCT
fsr-3884	50	14	the	the	DET
fsr-3884	50	15	score	score	NOUN
fsr-3884	50	16	’s	’s	NOUN
fsr-3884	50	17	beta	beta	NOUN
fsr-3884	50	18	would	would	AUX
fsr-3884	50	19	more	more	ADV
fsr-3884	50	20	closely	closely	ADV
fsr-3884	50	21	reflect	reflect	VERB
fsr-3884	50	22	that	that	PRON
fsr-3884	50	23	of	of	ADP
fsr-3884	50	24	the	the	DET
fsr-3884	50	25	stock	stock	NOUN
fsr-3884	50	26	.	.	PUNCT
fsr-3884	51	1	venkatesh	venkatesh	NOUN
fsr-3884	51	2	(	(	PUNCT
fsr-3884	51	3	1991	1991	NUM
fsr-3884	51	4	)	)	PUNCT
fsr-3884	51	5	uses	use	VERB
fsr-3884	51	6	primes	prime	NOUN
fsr-3884	51	7	to	to	PART
fsr-3884	51	8	document	document	VERB
fsr-3884	51	9	the	the	DET
fsr-3884	51	10	existence	existence	NOUN
fsr-3884	51	11	of	of	ADP
fsr-3884	51	12	substantial	substantial	ADJ
fsr-3884	51	13	dividend	dividend	NOUN
fsr-3884	51	14	capture	capture	NOUN
fsr-3884	51	15	trading	trading	NOUN
fsr-3884	51	16	.	.	PUNCT
fsr-3884	52	1	he	he	PRON
fsr-3884	52	2	hypothesizes	hypothesize	VERB
fsr-3884	52	3	that	that	SCONJ
fsr-3884	52	4	because	because	SCONJ
fsr-3884	52	5	trading	trading	NOUN
fsr-3884	52	6	costs	cost	NOUN
fsr-3884	52	7	are	be	AUX
fsr-3884	52	8	greater	great	ADJ
fsr-3884	52	9	for	for	ADP
fsr-3884	52	10	primes	prime	NOUN
fsr-3884	52	11	than	than	ADP
fsr-3884	52	12	for	for	ADP
fsr-3884	52	13	stocks	stock	NOUN
fsr-3884	52	14	,	,	PUNCT
fsr-3884	52	15	cum	cum	NOUN
fsr-3884	52	16	-	-	PUNCT
fsr-3884	52	17	ex	ex	NOUN
fsr-3884	52	18	trading	trading	NOUN
fsr-3884	52	19	is	be	AUX
fsr-3884	52	20	likely	likely	ADJ
fsr-3884	52	21	to	to	PART
fsr-3884	52	22	manifest	manifest	VERB
fsr-3884	52	23	itself	itself	PRON
fsr-3884	52	24	in	in	ADP
fsr-3884	52	25	the	the	DET
fsr-3884	52	26	form	form	NOUN
fsr-3884	52	27	of	of	ADP
fsr-3884	52	28	increased	increase	VERB
fsr-3884	52	29	volume	volume	NOUN
fsr-3884	52	30	in	in	ADP
fsr-3884	52	31	stocks	stock	NOUN
fsr-3884	52	32	rather	rather	ADV
fsr-3884	52	33	than	than	ADP
fsr-3884	52	34	primes	prime	NOUN
fsr-3884	52	35	.	.	PUNCT
fsr-3884	53	1	the	the	DET
fsr-3884	53	2	empirical	empirical	ADJ
fsr-3884	53	3	results	result	NOUN
fsr-3884	53	4	of	of	ADP
fsr-3884	53	5	venkatesh	venkatesh	NOUN
fsr-3884	53	6	suggest	suggest	VERB
fsr-3884	53	7	that	that	SCONJ
fsr-3884	53	8	the	the	DET
fsr-3884	53	9	ex	ex	ADJ
fsr-3884	53	10	-	-	ADJ
fsr-3884	53	11	dividend	dividend	ADJ
fsr-3884	53	12	period	period	NOUN
fsr-3884	53	13	trading	trading	NOUN
fsr-3884	53	14	volume	volume	NOUN
fsr-3884	53	15	of	of	ADP
fsr-3884	53	16	securities	security	NOUN
fsr-3884	53	17	be	be	AUX
fsr-3884	53	18	related	relate	VERB
fsr-3884	53	19	to	to	ADP
fsr-3884	53	20	their	their	PRON
fsr-3884	53	21	transaction	transaction	NOUN
fsr-3884	53	22	costs	cost	NOUN
fsr-3884	53	23	.	.	PUNCT
fsr-3884	54	1	canina	canina	PROPN
fsr-3884	54	2	(	(	PUNCT
fsr-3884	54	3	1999	1999	NUM
fsr-3884	54	4	)	)	PUNCT
fsr-3884	54	5	looks	look	VERB
fsr-3884	54	6	specifically	specifically	ADV
fsr-3884	54	7	at	at	ADP
fsr-3884	54	8	primes	prime	NOUN
fsr-3884	54	9	’	'	PUNCT
fsr-3884	54	10	and	and	CCONJ
fsr-3884	54	11	scores	score	NOUN
fsr-3884	54	12	’	'	PUNCT
fsr-3884	54	13	price	price	NOUN
fsr-3884	54	14	reaction	reaction	NOUN
fsr-3884	54	15	to	to	PART
fsr-3884	54	16	dividend	dividend	VERB
fsr-3884	54	17	change	change	NOUN
fsr-3884	54	18	announcements	announcement	NOUN
fsr-3884	54	19	.	.	PUNCT
fsr-3884	55	1	she	she	PRON
fsr-3884	55	2	reports	report	VERB
fsr-3884	55	3	a	a	DET
fsr-3884	55	4	significant	significant	ADJ
fsr-3884	55	5	,	,	PUNCT
fsr-3884	55	6	positive	positive	ADJ
fsr-3884	55	7	1.44	1.44	NUM
fsr-3884	55	8	%	%	NOUN
fsr-3884	55	9	3	3	NUM
fsr-3884	55	10	-	-	PUNCT
fsr-3884	55	11	day	day	NOUN
fsr-3884	55	12	excess	excess	ADJ
fsr-3884	55	13	returns	return	NOUN
fsr-3884	55	14	for	for	ADP
fsr-3884	55	15	scores	score	NOUN
fsr-3884	55	16	and	and	CCONJ
fsr-3884	55	17	a	a	DET
fsr-3884	55	18	significant	significant	ADJ
fsr-3884	55	19	,	,	PUNCT
fsr-3884	55	20	positive	positive	ADJ
fsr-3884	55	21	.89	.89	NUM
fsr-3884	55	22	%	%	NOUN
fsr-3884	55	23	3	3	NUM
fsr-3884	55	24	-	-	PUNCT
fsr-3884	55	25	day	day	NOUN
fsr-3884	55	26	excess	excess	ADJ
fsr-3884	55	27	returns	return	NOUN
fsr-3884	55	28	for	for	ADP
fsr-3884	55	29	primes	prime	NOUN
fsr-3884	55	30	.	.	PUNCT
fsr-3884	56	1	without	without	ADP
fsr-3884	56	2	distinguishing	distinguish	VERB
fsr-3884	56	3	scores	score	NOUN
fsr-3884	56	4	for	for	ADP
fsr-3884	56	5	their	their	PRON
fsr-3884	56	6	moneyness	moneyness	NOUN
fsr-3884	56	7	,	,	PUNCT
fsr-3884	56	8	she	she	PRON
fsr-3884	56	9	concludes	conclude	VERB
fsr-3884	56	10	that	that	SCONJ
fsr-3884	56	11	dividend	dividend	NOUN
fsr-3884	56	12	increases	increase	NOUN
fsr-3884	56	13	are	be	AUX
fsr-3884	56	14	viewed	view	VERB
fsr-3884	56	15	mostly	mostly	ADV
fsr-3884	56	16	as	as	ADP
fsr-3884	56	17	a	a	DET
fsr-3884	56	18	long	long	ADJ
fsr-3884	56	19	-	-	PUNCT
fsr-3884	56	20	term	term	NOUN
fsr-3884	56	21	change	change	NOUN
fsr-3884	56	22	to	to	ADP
fsr-3884	56	23	the	the	DET
fsr-3884	56	24	earnings	earning	NOUN
fsr-3884	56	25	ability	ability	NOUN
fsr-3884	56	26	of	of	ADP
fsr-3884	56	27	the	the	DET
fsr-3884	56	28	firm	firm	NOUN
fsr-3884	56	29	.	.	PUNCT
fsr-3884	57	1	2.2	2.2	NUM
fsr-3884	57	2	.	.	PUNCT
fsr-3884	58	1	earnings	earning	NOUN
fsr-3884	58	2	announcements	announcement	NOUN
fsr-3884	58	3	the	the	DET
fsr-3884	58	4	informational	informational	ADJ
fsr-3884	58	5	value	value	NOUN
fsr-3884	58	6	of	of	ADP
fsr-3884	58	7	earnings	earning	NOUN
fsr-3884	58	8	announcements	announcement	NOUN
fsr-3884	58	9	has	have	AUX
fsr-3884	58	10	long	long	ADV
fsr-3884	58	11	been	be	AUX
fsr-3884	58	12	demonstrated	demonstrate	VERB
fsr-3884	58	13	.	.	PUNCT
fsr-3884	59	1	for	for	ADP
fsr-3884	59	2	instance	instance	NOUN
fsr-3884	59	3	,	,	PUNCT
fsr-3884	59	4	rendleman	rendleman	NOUN
fsr-3884	59	5	et	et	PROPN
fsr-3884	59	6	al	al	PROPN
fsr-3884	59	7	.	.	PROPN
fsr-3884	60	1	(	(	PUNCT
fsr-3884	60	2	1982	1982	NUM
fsr-3884	60	3	)	)	PUNCT
fsr-3884	60	4	confirm	confirm	VERB
fsr-3884	60	5	that	that	SCONJ
fsr-3884	60	6	the	the	DET
fsr-3884	60	7	market	market	NOUN
fsr-3884	60	8	rewards	reward	VERB
fsr-3884	60	9	firms	firm	NOUN
fsr-3884	60	10	revealing	reveal	VERB
fsr-3884	60	11	positive	positive	ADJ
fsr-3884	60	12	earnings	earning	NOUN
fsr-3884	60	13	surprises	surprise	NOUN
fsr-3884	60	14	,	,	PUNCT
fsr-3884	60	15	and	and	CCONJ
fsr-3884	60	16	penalizes	penalize	VERB
fsr-3884	60	17	those	those	PRON
fsr-3884	60	18	announcing	announce	VERB
fsr-3884	60	19	lower	low	ADJ
fsr-3884	60	20	-	-	PUNCT
fsr-3884	60	21	than	than	ADP
fsr-3884	60	22	-	-	PUNCT
fsr-3884	60	23	expected	expect	VERB
fsr-3884	60	24	earnings	earning	NOUN
fsr-3884	60	25	.	.	PUNCT
fsr-3884	61	1	aharony	aharony	NOUN
fsr-3884	61	2	and	and	CCONJ
fsr-3884	61	3	swary	swary	ADJ
fsr-3884	61	4	(	(	PUNCT
fsr-3884	61	5	1980	1980	NUM
fsr-3884	61	6	)	)	PUNCT
fsr-3884	61	7	measure	measure	VERB
fsr-3884	61	8	the	the	DET
fsr-3884	61	9	announcement	announcement	NOUN
fsr-3884	61	10	date	date	NOUN
fsr-3884	61	11	earnings	earning	NOUN
fsr-3884	61	12	response	response	NOUN
fsr-3884	61	13	coefficients	coefficient	NOUN
fsr-3884	61	14	(	(	PUNCT
fsr-3884	61	15	ercs	erc	NOUN
fsr-3884	61	16	)	)	PUNCT
fsr-3884	61	17	to	to	PART
fsr-3884	61	18	be	be	AUX
fsr-3884	61	19	about1.52	about1.52	ADJ
fsr-3884	61	20	%	%	NOUN
fsr-3884	61	21	,	,	PUNCT
fsr-3884	61	22	and	and	CCONJ
fsr-3884	61	23	21	21	NUM
fsr-3884	61	24	day	day	NOUN
fsr-3884	61	25	(	(	PUNCT
fsr-3884	61	26	days210	days210	PROPN
fsr-3884	61	27	through110	through110	PROPN
fsr-3884	61	28	)	)	PUNCT
fsr-3884	61	29	abnormal	abnormal	ADJ
fsr-3884	61	30	returns	return	NOUN
fsr-3884	61	31	to	to	PART
fsr-3884	61	32	be	be	AUX
fsr-3884	61	33	around	around	ADP
fsr-3884	61	34	2.1	2.1	NUM
fsr-3884	61	35	%	%	NOUN
fsr-3884	61	36	,	,	PUNCT
fsr-3884	61	37	suggesting	suggest	VERB
fsr-3884	61	38	that	that	SCONJ
fsr-3884	61	39	there	there	PRON
fsr-3884	61	40	is	be	VERB
fsr-3884	61	41	a	a	DET
fsr-3884	61	42	strong	strong	ADJ
fsr-3884	61	43	information	information	NOUN
fsr-3884	61	44	content	content	NOUN
fsr-3884	61	45	to	to	ADP
fsr-3884	61	46	earnings	earning	NOUN
fsr-3884	61	47	announcements	announcement	NOUN
fsr-3884	61	48	.	.	PUNCT
fsr-3884	62	1	as	as	ADP
fsr-3884	62	2	a	a	DET
fsr-3884	62	3	further	further	ADJ
fsr-3884	62	4	test	test	NOUN
fsr-3884	62	5	of	of	ADP
fsr-3884	62	6	the	the	DET
fsr-3884	62	7	information	information	NOUN
fsr-3884	62	8	hypothesis	hypothesis	NOUN
fsr-3884	62	9	,	,	PUNCT
fsr-3884	62	10	cready	cready	ADJ
fsr-3884	62	11	(	(	PUNCT
fsr-3884	62	12	1988	1988	NUM
fsr-3884	62	13	)	)	PUNCT
fsr-3884	62	14	focuses	focus	VERB
fsr-3884	62	15	on	on	ADP
fsr-3884	62	16	changes	change	NOUN
fsr-3884	62	17	in	in	ADP
fsr-3884	62	18	the	the	DET
fsr-3884	62	19	size	size	NOUN
fsr-3884	62	20	of	of	ADP
fsr-3884	62	21	the	the	DET
fsr-3884	62	22	average	average	ADJ
fsr-3884	62	23	transaction	transaction	NOUN
fsr-3884	62	24	around	around	ADP
fsr-3884	62	25	annual	annual	ADJ
fsr-3884	62	26	and	and	CCONJ
fsr-3884	62	27	quarterly	quarterly	ADJ
fsr-3884	62	28	earnings	earning	NOUN
fsr-3884	62	29	announcements	announcement	NOUN
fsr-3884	62	30	.	.	PUNCT
fsr-3884	63	1	wealthy	wealthy	ADJ
fsr-3884	63	2	investors	investor	NOUN
fsr-3884	63	3	are	be	AUX
fsr-3884	63	4	assumed	assume	VERB
fsr-3884	63	5	to	to	PART
fsr-3884	63	6	have	have	VERB
fsr-3884	63	7	more	more	ADJ
fsr-3884	63	8	information	information	NOUN
fsr-3884	63	9	than	than	SCONJ
fsr-3884	63	10	other	other	ADJ
fsr-3884	63	11	market	market	NOUN
fsr-3884	63	12	participants	participant	NOUN
fsr-3884	63	13	do	do	VERB
fsr-3884	63	14	,	,	PUNCT
fsr-3884	63	15	and	and	CCONJ
fsr-3884	63	16	they	they	PRON
fsr-3884	63	17	also	also	ADV
fsr-3884	63	18	tend	tend	VERB
fsr-3884	63	19	to	to	PART
fsr-3884	63	20	trade	trade	VERB
fsr-3884	63	21	in	in	ADP
fsr-3884	63	22	larger	large	ADJ
fsr-3884	63	23	blocks	block	NOUN
fsr-3884	63	24	.	.	PUNCT
fsr-3884	64	1	he	he	PRON
fsr-3884	64	2	discovers	discover	VERB
fsr-3884	64	3	a	a	DET
fsr-3884	64	4	strong	strong	ADJ
fsr-3884	64	5	positive	positive	ADJ
fsr-3884	64	6	relationship	relationship	NOUN
fsr-3884	64	7	between	between	ADP
fsr-3884	64	8	mean	mean	ADJ
fsr-3884	64	9	unexpected	unexpected	ADJ
fsr-3884	64	10	transaction	transaction	NOUN
fsr-3884	64	11	size	size	NOUN
fsr-3884	64	12	and	and	CCONJ
fsr-3884	64	13	absolute	absolute	ADJ
fsr-3884	64	14	price	price	NOUN
fsr-3884	64	15	changes	change	NOUN
fsr-3884	64	16	in	in	ADP
fsr-3884	64	17	the	the	DET
fsr-3884	64	18	announcement	announcement	NOUN
fsr-3884	64	19	week	week	NOUN
fsr-3884	64	20	,	,	PUNCT
fsr-3884	64	21	again	again	ADV
fsr-3884	64	22	consistent	consistent	ADJ
fsr-3884	64	23	with	with	ADP
fsr-3884	64	24	the	the	DET
fsr-3884	64	25	hypothesis	hypothesis	NOUN
fsr-3884	64	26	that	that	SCONJ
fsr-3884	64	27	earnings	earning	NOUN
fsr-3884	64	28	announcements	announcement	NOUN
fsr-3884	64	29	are	be	AUX
fsr-3884	64	30	important	important	ADJ
fsr-3884	64	31	information	information	NOUN
fsr-3884	64	32	events	event	NOUN
fsr-3884	64	33	.	.	PUNCT
fsr-3884	65	1	the	the	DET
fsr-3884	65	2	generally	generally	ADV
fsr-3884	65	3	accepted	accept	VERB
fsr-3884	65	4	explanation	explanation	NOUN
fsr-3884	65	5	for	for	ADP
fsr-3884	65	6	such	such	ADJ
fsr-3884	65	7	findings	finding	NOUN
fsr-3884	65	8	is	be	AUX
fsr-3884	65	9	that	that	SCONJ
fsr-3884	65	10	the	the	DET
fsr-3884	65	11	market	market	NOUN
fsr-3884	65	12	uses	use	VERB
fsr-3884	65	13	earnings	earning	NOUN
fsr-3884	65	14	revelations	revelation	NOUN
fsr-3884	65	15	to	to	PART
fsr-3884	65	16	re	re	VERB
fsr-3884	65	17	-	-	VERB
fsr-3884	65	18	evaluate	evaluate	VERB
fsr-3884	65	19	a	a	DET
fsr-3884	65	20	firm	firm	NOUN
fsr-3884	65	21	’s	’s	PART
fsr-3884	65	22	expected	expect	VERB
fsr-3884	65	23	future	future	ADJ
fsr-3884	65	24	cash	cash	NOUN
fsr-3884	65	25	flows	flow	NOUN
fsr-3884	65	26	,	,	PUNCT
fsr-3884	65	27	and	and	CCONJ
fsr-3884	65	28	investor	investor	NOUN
fsr-3884	65	29	behavior	behavior	NOUN
fsr-3884	65	30	and	and	CCONJ
fsr-3884	65	31	stock	stock	NOUN
fsr-3884	65	32	prices	price	NOUN
fsr-3884	65	33	adjust	adjust	VERB
fsr-3884	65	34	accordingly	accordingly	ADV
fsr-3884	65	35	.	.	PUNCT
fsr-3884	66	1	it	it	PRON
fsr-3884	66	2	is	be	AUX
fsr-3884	66	3	not	not	PART
fsr-3884	66	4	clear	clear	ADJ
fsr-3884	66	5	,	,	PUNCT
fsr-3884	66	6	however	however	ADV
fsr-3884	66	7	,	,	PUNCT
fsr-3884	66	8	whether	whether	SCONJ
fsr-3884	66	9	the	the	DET
fsr-3884	66	10	stock	stock	NOUN
fsr-3884	66	11	price	price	NOUN
fsr-3884	66	12	adjustment	adjustment	NOUN
fsr-3884	66	13	results	result	NOUN
fsr-3884	66	14	from	from	ADP
fsr-3884	66	15	changes	change	NOUN
fsr-3884	66	16	in	in	ADP
fsr-3884	66	17	the	the	DET
fsr-3884	66	18	market	market	NOUN
fsr-3884	66	19	’s	’s	PART
fsr-3884	66	20	expectations	expectation	NOUN
fsr-3884	66	21	of	of	ADP
fsr-3884	66	22	future	future	ADJ
fsr-3884	66	23	dividends	dividend	NOUN
fsr-3884	66	24	,	,	PUNCT
fsr-3884	66	25	capital	capital	NOUN
fsr-3884	66	26	gains	gain	NOUN
fsr-3884	66	27	,	,	PUNCT
fsr-3884	66	28	or	or	CCONJ
fsr-3884	66	29	both	both	PRON
fsr-3884	66	30	.	.	PUNCT
fsr-3884	67	1	kane	kane	PROPN
fsr-3884	67	2	et	et	PROPN
fsr-3884	67	3	al	al	PROPN
fsr-3884	67	4	.	.	PROPN
fsr-3884	67	5	(	(	PUNCT
fsr-3884	67	6	1984	1984	NUM
fsr-3884	67	7	)	)	PUNCT
fsr-3884	67	8	,	,	PUNCT
fsr-3884	67	9	for	for	ADP
fsr-3884	67	10	example	example	NOUN
fsr-3884	67	11	,	,	PUNCT
fsr-3884	67	12	report	report	VERB
fsr-3884	67	13	a	a	DET
fsr-3884	67	14	positive	positive	ADJ
fsr-3884	67	15	relationship	relationship	NOUN
fsr-3884	67	16	between	between	ADP
fsr-3884	67	17	earnings	earning	NOUN
fsr-3884	67	18	and	and	CCONJ
fsr-3884	67	19	dividend	dividend	NOUN
fsr-3884	67	20	changes	change	NOUN
fsr-3884	67	21	.	.	PUNCT
fsr-3884	68	1	in	in	ADP
fsr-3884	68	2	the	the	DET
fsr-3884	68	3	sample	sample	NOUN
fsr-3884	68	4	of	of	ADP
fsr-3884	68	5	kane	kane	PROPN
fsr-3884	68	6	et	et	PROPN
fsr-3884	68	7	al	al	PROPN
fsr-3884	68	8	.	.	PROPN
fsr-3884	68	9	,	,	PUNCT
fsr-3884	68	10	60	60	NUM
fsr-3884	68	11	%	%	NOUN
fsr-3884	68	12	of	of	ADP
fsr-3884	68	13	earnings	earning	NOUN
fsr-3884	68	14	changes	change	NOUN
fsr-3884	68	15	are	be	AUX
fsr-3884	68	16	accompanied	accompany	VERB
fsr-3884	68	17	89j.a	89j.a	NUM
fsr-3884	68	18	.	.	PUNCT
fsr-3884	69	1	macdonald	macdonald	PROPN
fsr-3884	69	2	,	,	PUNCT
fsr-3884	69	3	d.m	d.m	PROPN
fsr-3884	69	4	.	.	PUNCT
fsr-3884	69	5	smith	smith	PROPN
fsr-3884	69	6	/	/	SYM
fsr-3884	69	7	financial	financial	ADJ
fsr-3884	69	8	services	service	NOUN
fsr-3884	69	9	review	review	VERB
fsr-3884	69	10	8	8	NUM
fsr-3884	69	11	(	(	PUNCT
fsr-3884	69	12	1999	1999	NUM
fsr-3884	69	13	)	)	PUNCT
fsr-3884	69	14	87–99	87–99	NUM
fsr-3884	69	15	by	by	ADP
fsr-3884	69	16	dividend	dividend	NOUN
fsr-3884	69	17	changes	change	NOUN
fsr-3884	69	18	in	in	ADP
fsr-3884	69	19	the	the	DET
fsr-3884	69	20	same	same	ADJ
fsr-3884	69	21	direction	direction	NOUN
fsr-3884	69	22	.	.	PUNCT
fsr-3884	70	1	consequently	consequently	ADV
fsr-3884	70	2	,	,	PUNCT
fsr-3884	70	3	if	if	SCONJ
fsr-3884	70	4	an	an	DET
fsr-3884	70	5	earnings	earning	NOUN
fsr-3884	70	6	increase	increase	NOUN
fsr-3884	70	7	is	be	AUX
fsr-3884	70	8	announced	announce	VERB
fsr-3884	70	9	,	,	PUNCT
fsr-3884	70	10	the	the	DET
fsr-3884	70	11	value	value	NOUN
fsr-3884	70	12	of	of	ADP
fsr-3884	70	13	a	a	DET
fsr-3884	70	14	company	company	NOUN
fsr-3884	70	15	’s	’s	PART
fsr-3884	70	16	prime	prime	NOUN
fsr-3884	70	17	(	(	PUNCT
fsr-3884	70	18	the	the	DET
fsr-3884	70	19	dividend	dividend	NOUN
fsr-3884	70	20	-	-	PUNCT
fsr-3884	70	21	bearing	bear	VERB
fsr-3884	70	22	portion	portion	NOUN
fsr-3884	70	23	of	of	ADP
fsr-3884	70	24	an	an	DET
fsr-3884	70	25	americus	americus	PROPN
fsr-3884	70	26	trust	trust	PROPN
fsr-3884	70	27	unit	unit	NOUN
fsr-3884	70	28	)	)	PUNCT
fsr-3884	70	29	should	should	AUX
fsr-3884	70	30	rise	rise	VERB
fsr-3884	70	31	.	.	PUNCT
fsr-3884	71	1	such	such	ADJ
fsr-3884	71	2	earnings	earning	NOUN
fsr-3884	71	3	information	information	NOUN
fsr-3884	71	4	might	might	AUX
fsr-3884	71	5	not	not	PART
fsr-3884	71	6	have	have	VERB
fsr-3884	71	7	immediate	immediate	ADJ
fsr-3884	71	8	cash	cash	NOUN
fsr-3884	71	9	flow	flow	NOUN
fsr-3884	71	10	implications	implication	NOUN
fsr-3884	71	11	for	for	ADP
fsr-3884	71	12	prime	prime	ADJ
fsr-3884	71	13	holders	holder	NOUN
fsr-3884	71	14	if	if	SCONJ
fsr-3884	71	15	related	relate	VERB
fsr-3884	71	16	dividend	dividend	NOUN
fsr-3884	71	17	declarations	declaration	NOUN
fsr-3884	71	18	precede	precede	VERB
fsr-3884	71	19	rather	rather	ADV
fsr-3884	71	20	than	than	ADP
fsr-3884	71	21	follow	follow	VERB
fsr-3884	71	22	earnings	earning	NOUN
fsr-3884	71	23	announcements	announcement	NOUN
fsr-3884	71	24	;	;	PUNCT
fsr-3884	71	25	however	however	ADV
fsr-3884	71	26	,	,	PUNCT
fsr-3884	71	27	in	in	ADP
fsr-3884	71	28	aharony	aharony	NOUN
fsr-3884	71	29	and	and	CCONJ
fsr-3884	71	30	swary	swary	ADJ
fsr-3884	71	31	’s	’s	PART
fsr-3884	71	32	sample	sample	NOUN
fsr-3884	71	33	of	of	ADP
fsr-3884	71	34	3399	3399	NUM
fsr-3884	71	35	earnings	earning	NOUN
fsr-3884	71	36	announcements	announcement	NOUN
fsr-3884	71	37	,	,	PUNCT
fsr-3884	71	38	associated	associated	ADJ
fsr-3884	71	39	dividend	dividend	NOUN
fsr-3884	71	40	declarationsfollow	declarationsfollow	NOUN
fsr-3884	71	41	earnings	earning	NOUN
fsr-3884	71	42	revelations	revelation	NOUN
fsr-3884	71	43	77	77	NUM
fsr-3884	71	44	%	%	NOUN
fsr-3884	71	45	of	of	ADP
fsr-3884	71	46	the	the	DET
fsr-3884	71	47	time	time	NOUN
fsr-3884	71	48	.	.	PUNCT
fsr-3884	72	1	thus	thus	ADV
fsr-3884	72	2	,	,	PUNCT
fsr-3884	72	3	it	it	PRON
fsr-3884	72	4	is	be	AUX
fsr-3884	72	5	expected	expect	VERB
fsr-3884	72	6	that	that	SCONJ
fsr-3884	72	7	an	an	DET
fsr-3884	72	8	unanticipated	unanticipated	ADJ
fsr-3884	72	9	earnings	earning	NOUN
fsr-3884	72	10	change	change	NOUN
fsr-3884	72	11	would	would	AUX
fsr-3884	72	12	have	have	VERB
fsr-3884	72	13	a	a	DET
fsr-3884	72	14	direct	direct	ADJ
fsr-3884	72	15	impact	impact	NOUN
fsr-3884	72	16	on	on	ADP
fsr-3884	72	17	the	the	DET
fsr-3884	72	18	prime	prime	NOUN
fsr-3884	72	19	’s	’s	PART
fsr-3884	72	20	returns	return	NOUN
fsr-3884	72	21	.	.	PUNCT
fsr-3884	73	1	further	far	ADV
fsr-3884	73	2	,	,	PUNCT
fsr-3884	73	3	because	because	SCONJ
fsr-3884	73	4	stock	stock	NOUN
fsr-3884	73	5	prices	price	NOUN
fsr-3884	73	6	are	be	AUX
fsr-3884	73	7	observed	observe	VERB
fsr-3884	73	8	to	to	PART
fsr-3884	73	9	change	change	VERB
fsr-3884	73	10	significantly	significantly	ADV
fsr-3884	73	11	in	in	ADP
fsr-3884	73	12	response	response	NOUN
fsr-3884	73	13	to	to	ADP
fsr-3884	73	14	quarterly	quarterly	ADJ
fsr-3884	73	15	earnings	earning	NOUN
fsr-3884	73	16	announcements	announcement	NOUN
fsr-3884	73	17	,	,	PUNCT
fsr-3884	73	18	it	it	PRON
fsr-3884	73	19	is	be	AUX
fsr-3884	73	20	expected	expect	VERB
fsr-3884	73	21	that	that	SCONJ
fsr-3884	73	22	the	the	DET
fsr-3884	73	23	score	score	NOUN
fsr-3884	73	24	’s	’s	PART
fsr-3884	73	25	price	price	NOUN
fsr-3884	73	26	would	would	AUX
fsr-3884	73	27	be	be	AUX
fsr-3884	73	28	affected	affect	VERB
fsr-3884	73	29	similarly	similarly	ADV
fsr-3884	73	30	.	.	PUNCT
fsr-3884	74	1	the	the	DET
fsr-3884	74	2	association	association	NOUN
fsr-3884	74	3	between	between	ADP
fsr-3884	74	4	earnings	earning	NOUN
fsr-3884	74	5	and	and	CCONJ
fsr-3884	74	6	stock	stock	NOUN
fsr-3884	74	7	prices	price	NOUN
fsr-3884	74	8	is	be	AUX
fsr-3884	74	9	further	far	ADV
fsr-3884	74	10	explored	explore	VERB
fsr-3884	74	11	by	by	ADP
fsr-3884	74	12	beaver	beaver	PROPN
fsr-3884	74	13	et	et	PROPN
fsr-3884	74	14	al	al	PROPN
fsr-3884	74	15	.	.	PROPN
fsr-3884	75	1	(	(	PUNCT
fsr-3884	75	2	1997	1997	NUM
fsr-3884	75	3	)	)	PUNCT
fsr-3884	75	4	,	,	PUNCT
fsr-3884	75	5	who	who	PRON
fsr-3884	75	6	show	show	VERB
fsr-3884	75	7	that	that	SCONJ
fsr-3884	75	8	the	the	DET
fsr-3884	75	9	earnings	earning	NOUN
fsr-3884	75	10	/	/	SYM
fsr-3884	75	11	stock	stock	NOUN
fsr-3884	75	12	price	price	NOUN
fsr-3884	75	13	relationship	relationship	NOUN
fsr-3884	75	14	can	can	AUX
fsr-3884	75	15	be	be	AUX
fsr-3884	75	16	modeled	model	VERB
fsr-3884	75	17	using	use	VERB
fsr-3884	75	18	a	a	DET
fsr-3884	75	19	simultaneous	simultaneous	ADJ
fsr-3884	75	20	equations	equation	NOUN
fsr-3884	75	21	approach	approach	NOUN
fsr-3884	75	22	.	.	PUNCT
fsr-3884	76	1	their	their	PRON
fsr-3884	76	2	analysis	analysis	NOUN
fsr-3884	76	3	,	,	PUNCT
fsr-3884	76	4	however	however	ADV
fsr-3884	76	5	,	,	PUNCT
fsr-3884	76	6	is	be	AUX
fsr-3884	76	7	hampered	hamper	VERB
fsr-3884	76	8	by	by	ADP
fsr-3884	76	9	uncertainty	uncertainty	NOUN
fsr-3884	76	10	over	over	ADP
fsr-3884	76	11	which	which	PRON
fsr-3884	76	12	instrumental	instrumental	ADJ
fsr-3884	76	13	variables	variable	NOUN
fsr-3884	76	14	should	should	AUX
fsr-3884	76	15	be	be	AUX
fsr-3884	76	16	used	use	VERB
fsr-3884	76	17	in	in	ADP
fsr-3884	76	18	the	the	DET
fsr-3884	76	19	necessary	necessary	ADJ
fsr-3884	76	20	multi	multi	ADJ
fsr-3884	76	21	-	-	ADJ
fsr-3884	76	22	stage	stage	NOUN
fsr-3884	76	23	regressions	regression	NOUN
fsr-3884	76	24	.	.	PUNCT
fsr-3884	77	1	additional	additional	ADJ
fsr-3884	77	2	empirical	empirical	ADJ
fsr-3884	77	3	work	work	NOUN
fsr-3884	77	4	on	on	ADP
fsr-3884	77	5	ercs	erc	NOUN
fsr-3884	77	6	by	by	ADP
fsr-3884	77	7	kallapur	kallapur	PROPN
fsr-3884	77	8	(	(	PUNCT
fsr-3884	77	9	1994	1994	NUM
fsr-3884	77	10	)	)	PUNCT
fsr-3884	77	11	and	and	CCONJ
fsr-3884	77	12	sivakumar	sivakumar	PROPN
fsr-3884	77	13	and	and	CCONJ
fsr-3884	77	14	waymire	waymire	ADJ
fsr-3884	77	15	(	(	PUNCT
fsr-3884	77	16	1993	1993	NUM
fsr-3884	77	17	)	)	PUNCT
fsr-3884	77	18	shows	show	VERB
fsr-3884	77	19	that	that	SCONJ
fsr-3884	77	20	the	the	DET
fsr-3884	77	21	market	market	NOUN
fsr-3884	77	22	may	may	AUX
fsr-3884	77	23	view	view	VERB
fsr-3884	77	24	the	the	DET
fsr-3884	77	25	level	level	NOUN
fsr-3884	77	26	of	of	ADP
fsr-3884	77	27	a	a	DET
fsr-3884	77	28	firm	firm	NOUN
fsr-3884	77	29	’s	’s	PART
fsr-3884	77	30	dividend	dividend	NOUN
fsr-3884	77	31	to	to	PART
fsr-3884	77	32	be	be	AUX
fsr-3884	77	33	a	a	DET
fsr-3884	77	34	sign	sign	NOUN
fsr-3884	77	35	of	of	ADP
fsr-3884	77	36	the	the	DET
fsr-3884	77	37	credibility	credibility	NOUN
fsr-3884	77	38	it	it	PRON
fsr-3884	77	39	can	can	AUX
fsr-3884	77	40	assign	assign	VERB
fsr-3884	77	41	to	to	ADP
fsr-3884	77	42	earnings	earning	NOUN
fsr-3884	77	43	announcements	announcement	NOUN
fsr-3884	77	44	.	.	PUNCT
fsr-3884	78	1	kallapur	kallapur	PROPN
fsr-3884	78	2	finds	find	VERB
fsr-3884	78	3	ercs	erc	NOUN
fsr-3884	78	4	to	to	PART
fsr-3884	78	5	be	be	AUX
fsr-3884	78	6	positively	positively	ADV
fsr-3884	78	7	related	relate	VERB
fsr-3884	78	8	to	to	ADP
fsr-3884	78	9	the	the	DET
fsr-3884	78	10	announcing	announce	VERB
fsr-3884	78	11	firm	firm	NOUN
fsr-3884	78	12	’s	’s	PART
fsr-3884	78	13	dividend	dividend	NOUN
fsr-3884	78	14	payout	payout	NOUN
fsr-3884	78	15	ratio	ratio	NOUN
fsr-3884	78	16	.	.	PUNCT
fsr-3884	79	1	sivakumar	sivakumar	PROPN
fsr-3884	79	2	and	and	CCONJ
fsr-3884	79	3	waymire	waymire	ADV
fsr-3884	79	4	examine	examine	VERB
fsr-3884	79	5	51	51	NUM
fsr-3884	79	6	firms	firm	NOUN
fsr-3884	79	7	between	between	ADP
fsr-3884	79	8	1905	1905	NUM
fsr-3884	79	9	and	and	CCONJ
fsr-3884	79	10	1910	1910	NUM
fsr-3884	79	11	,	,	PUNCT
fsr-3884	79	12	when	when	SCONJ
fsr-3884	79	13	earnings	earning	NOUN
fsr-3884	79	14	announcements	announcement	NOUN
fsr-3884	79	15	were	be	AUX
fsr-3884	79	16	discretionary	discretionary	ADJ
fsr-3884	79	17	.	.	PUNCT
fsr-3884	80	1	they	they	PRON
fsr-3884	80	2	observe	observe	VERB
fsr-3884	80	3	significant	significant	ADJ
fsr-3884	80	4	positive	positive	ADJ
fsr-3884	80	5	returns	return	NOUN
fsr-3884	80	6	for	for	ADP
fsr-3884	80	7	dividend	dividend	NOUN
fsr-3884	80	8	-	-	PUNCT
fsr-3884	80	9	paying	pay	VERB
fsr-3884	80	10	firms	firm	NOUN
fsr-3884	80	11	,	,	PUNCT
fsr-3884	80	12	but	but	CCONJ
fsr-3884	80	13	not	not	PART
fsr-3884	80	14	for	for	ADP
fsr-3884	80	15	non	non	ADJ
fsr-3884	80	16	-	-	ADJ
fsr-3884	80	17	dividendpaying	dividendpaying	ADJ
fsr-3884	80	18	firms	firm	NOUN
fsr-3884	80	19	.	.	PUNCT
fsr-3884	81	1	dividend	dividend	NOUN
fsr-3884	81	2	increases	increase	NOUN
fsr-3884	81	3	are	be	AUX
fsr-3884	81	4	associated	associate	VERB
fsr-3884	81	5	with	with	ADP
fsr-3884	81	6	greater	great	ADJ
fsr-3884	81	7	stock	stock	NOUN
fsr-3884	81	8	price	price	NOUN
fsr-3884	81	9	movements	movement	NOUN
fsr-3884	81	10	than	than	SCONJ
fsr-3884	81	11	are	be	AUX
fsr-3884	81	12	earnings	earning	NOUN
fsr-3884	81	13	increases	increase	NOUN
fsr-3884	81	14	,	,	PUNCT
fsr-3884	81	15	suggesting	suggest	VERB
fsr-3884	81	16	that	that	SCONJ
fsr-3884	81	17	the	the	DET
fsr-3884	81	18	market	market	NOUN
fsr-3884	81	19	considers	consider	VERB
fsr-3884	81	20	earnings	earning	NOUN
fsr-3884	81	21	to	to	PART
fsr-3884	81	22	be	be	AUX
fsr-3884	81	23	more	more	ADV
fsr-3884	81	24	credible	credible	ADJ
fsr-3884	81	25	if	if	SCONJ
fsr-3884	81	26	accompanied	accompany	VERB
fsr-3884	81	27	by	by	ADP
fsr-3884	81	28	dividend	dividend	NOUN
fsr-3884	81	29	changes	change	NOUN
fsr-3884	81	30	.	.	PUNCT
fsr-3884	82	1	hayn	hayn	NOUN
fsr-3884	82	2	(	(	PUNCT
fsr-3884	82	3	1995	1995	NUM
fsr-3884	82	4	)	)	PUNCT
fsr-3884	82	5	shows	show	VERB
fsr-3884	82	6	that	that	SCONJ
fsr-3884	82	7	the	the	DET
fsr-3884	82	8	ercs	erc	NOUN
fsr-3884	82	9	for	for	ADP
fsr-3884	82	10	profits	profit	NOUN
fsr-3884	82	11	and	and	CCONJ
fsr-3884	82	12	losses	loss	NOUN
fsr-3884	82	13	are	be	AUX
fsr-3884	82	14	asymmetric	asymmetric	ADJ
fsr-3884	82	15	.	.	PUNCT
fsr-3884	83	1	the	the	DET
fsr-3884	83	2	coefficient	coefficient	NOUN
fsr-3884	83	3	is	be	AUX
fsr-3884	83	4	smaller	small	ADJ
fsr-3884	83	5	for	for	ADP
fsr-3884	83	6	losses	loss	NOUN
fsr-3884	83	7	than	than	ADP
fsr-3884	83	8	for	for	ADP
fsr-3884	83	9	profits	profit	NOUN
fsr-3884	83	10	,	,	PUNCT
fsr-3884	83	11	suggesting	suggest	VERB
fsr-3884	83	12	that	that	SCONJ
fsr-3884	83	13	the	the	DET
fsr-3884	83	14	practice	practice	NOUN
fsr-3884	83	15	of	of	ADP
fsr-3884	83	16	pooling	pool	VERB
fsr-3884	83	17	profits	profit	NOUN
fsr-3884	83	18	and	and	CCONJ
fsr-3884	83	19	losses	loss	NOUN
fsr-3884	83	20	has	have	VERB
fsr-3884	83	21	the	the	DET
fsr-3884	83	22	effect	effect	NOUN
fsr-3884	83	23	of	of	ADP
fsr-3884	83	24	driving	drive	VERB
fsr-3884	83	25	down	down	ADP
fsr-3884	83	26	computed	computed	ADJ
fsr-3884	83	27	ercs	erc	NOUN
fsr-3884	83	28	.	.	PUNCT
fsr-3884	84	1	2.3	2.3	NUM
fsr-3884	84	2	.	.	PUNCT
fsr-3884	84	3	time	time	NOUN
fsr-3884	84	4	sensitivity	sensitivity	NOUN
fsr-3884	84	5	of	of	ADP
fsr-3884	84	6	results	result	NOUN
fsr-3884	84	7	lang	lang	PROPN
fsr-3884	84	8	(	(	PUNCT
fsr-3884	84	9	1991	1991	NUM
fsr-3884	84	10	)	)	PUNCT
fsr-3884	84	11	shows	show	VERB
fsr-3884	84	12	that	that	SCONJ
fsr-3884	84	13	the	the	DET
fsr-3884	84	14	response	response	NOUN
fsr-3884	84	15	of	of	ADP
fsr-3884	84	16	ipo	ipo	PROPN
fsr-3884	84	17	stock	stock	NOUN
fsr-3884	84	18	prices	price	NOUN
fsr-3884	84	19	to	to	ADP
fsr-3884	84	20	earnings	earning	NOUN
fsr-3884	84	21	surprises	surprise	NOUN
fsr-3884	84	22	tends	tend	VERB
fsr-3884	84	23	to	to	PART
fsr-3884	84	24	vary	vary	VERB
fsr-3884	84	25	across	across	ADP
fsr-3884	84	26	time	time	NOUN
fsr-3884	84	27	,	,	PUNCT
fsr-3884	84	28	depending	depend	VERB
fsr-3884	84	29	on	on	ADP
fsr-3884	84	30	the	the	DET
fsr-3884	84	31	level	level	NOUN
fsr-3884	84	32	of	of	ADP
fsr-3884	84	33	uncertainty	uncertainty	NOUN
fsr-3884	84	34	surrounding	surround	VERB
fsr-3884	84	35	the	the	DET
fsr-3884	84	36	firm	firm	NOUN
fsr-3884	84	37	’s	’s	PART
fsr-3884	84	38	earnings	earning	NOUN
fsr-3884	84	39	.	.	PUNCT
fsr-3884	85	1	the	the	DET
fsr-3884	85	2	data	datum	NOUN
fsr-3884	85	3	set	set	VERB
fsr-3884	85	4	in	in	ADP
fsr-3884	85	5	the	the	DET
fsr-3884	85	6	present	present	ADJ
fsr-3884	85	7	study	study	NOUN
fsr-3884	85	8	is	be	AUX
fsr-3884	85	9	composed	compose	VERB
fsr-3884	85	10	of	of	ADP
fsr-3884	85	11	firms	firm	NOUN
fsr-3884	85	12	that	that	PRON
fsr-3884	85	13	are	be	AUX
fsr-3884	85	14	substantially	substantially	ADV
fsr-3884	85	15	different	different	ADJ
fsr-3884	85	16	from	from	ADP
fsr-3884	85	17	lang	lang	PROPN
fsr-3884	85	18	’s	’s	PART
fsr-3884	85	19	ipo	ipo	PROPN
fsr-3884	85	20	sample	sample	NOUN
fsr-3884	85	21	.	.	PUNCT
fsr-3884	86	1	nonetheless	nonetheless	ADV
fsr-3884	86	2	,	,	PUNCT
fsr-3884	86	3	lang	lang	PROPN
fsr-3884	86	4	’s	’s	PART
fsr-3884	86	5	results	result	NOUN
fsr-3884	86	6	raise	raise	VERB
fsr-3884	86	7	the	the	DET
fsr-3884	86	8	question	question	NOUN
fsr-3884	86	9	of	of	ADP
fsr-3884	86	10	whether	whether	SCONJ
fsr-3884	86	11	the	the	DET
fsr-3884	86	12	proportional	proportional	ADJ
fsr-3884	86	13	reactions	reaction	NOUN
fsr-3884	86	14	of	of	ADP
fsr-3884	86	15	primes	prime	NOUN
fsr-3884	86	16	and	and	CCONJ
fsr-3884	86	17	scores	score	NOUN
fsr-3884	86	18	are	be	AUX
fsr-3884	86	19	constant	constant	ADJ
fsr-3884	86	20	over	over	ADP
fsr-3884	86	21	time	time	NOUN
fsr-3884	86	22	.	.	PUNCT
fsr-3884	87	1	the	the	DET
fsr-3884	87	2	time	time	NOUN
fsr-3884	87	3	to	to	ADP
fsr-3884	87	4	expiration	expiration	NOUN
fsr-3884	87	5	of	of	ADP
fsr-3884	87	6	each	each	DET
fsr-3884	87	7	trust	trust	NOUN
fsr-3884	87	8	at	at	ADP
fsr-3884	87	9	the	the	DET
fsr-3884	87	10	date	date	NOUN
fsr-3884	87	11	of	of	ADP
fsr-3884	87	12	an	an	DET
fsr-3884	87	13	earnings	earning	NOUN
fsr-3884	87	14	surprise	surprise	NOUN
fsr-3884	87	15	is	be	AUX
fsr-3884	87	16	used	use	VERB
fsr-3884	87	17	as	as	ADP
fsr-3884	87	18	the	the	DET
fsr-3884	87	19	measure	measure	NOUN
fsr-3884	87	20	of	of	ADP
fsr-3884	87	21	time	time	NOUN
fsr-3884	87	22	sensitivity	sensitivity	NOUN
fsr-3884	87	23	.	.	PUNCT
fsr-3884	88	1	the	the	DET
fsr-3884	88	2	more	more	ADJ
fsr-3884	88	3	dividend	dividend	NOUN
fsr-3884	88	4	payments	payment	NOUN
fsr-3884	88	5	a	a	DET
fsr-3884	88	6	firm	firm	NOUN
fsr-3884	88	7	has	have	AUX
fsr-3884	88	8	remaining	remain	VERB
fsr-3884	88	9	before	before	ADP
fsr-3884	88	10	trust	trust	NOUN
fsr-3884	88	11	expiration	expiration	NOUN
fsr-3884	88	12	,	,	PUNCT
fsr-3884	88	13	the	the	DET
fsr-3884	88	14	more	more	ADJ
fsr-3884	88	15	chances	chance	NOUN
fsr-3884	88	16	exist	exist	VERB
fsr-3884	88	17	for	for	SCONJ
fsr-3884	88	18	managers	manager	NOUN
fsr-3884	88	19	to	to	PART
fsr-3884	88	20	revise	revise	VERB
fsr-3884	88	21	the	the	DET
fsr-3884	88	22	amount	amount	NOUN
fsr-3884	88	23	.	.	PUNCT
fsr-3884	89	1	on	on	ADP
fsr-3884	89	2	the	the	DET
fsr-3884	89	3	other	other	ADJ
fsr-3884	89	4	hand	hand	NOUN
fsr-3884	89	5	,	,	PUNCT
fsr-3884	89	6	additional	additional	ADJ
fsr-3884	89	7	time	time	NOUN
fsr-3884	89	8	also	also	ADV
fsr-3884	89	9	means	mean	VERB
fsr-3884	89	10	that	that	SCONJ
fsr-3884	89	11	the	the	DET
fsr-3884	89	12	score	score	NOUN
fsr-3884	89	13	has	have	VERB
fsr-3884	89	14	the	the	DET
fsr-3884	89	15	opportunity	opportunity	NOUN
fsr-3884	89	16	to	to	PART
fsr-3884	89	17	rise	rise	VERB
fsr-3884	89	18	further	far	ADV
fsr-3884	89	19	into	into	ADP
fsr-3884	89	20	the	the	DET
fsr-3884	89	21	money	money	NOUN
fsr-3884	89	22	,	,	PUNCT
fsr-3884	89	23	providing	provide	VERB
fsr-3884	89	24	enhanced	enhanced	ADJ
fsr-3884	89	25	capital	capital	NOUN
fsr-3884	89	26	appreciation	appreciation	NOUN
fsr-3884	89	27	.	.	PUNCT
fsr-3884	90	1	the	the	DET
fsr-3884	90	2	net	net	ADJ
fsr-3884	90	3	effect	effect	NOUN
fsr-3884	90	4	will	will	AUX
fsr-3884	90	5	be	be	AUX
fsr-3884	90	6	determined	determine	VERB
fsr-3884	90	7	by	by	ADP
fsr-3884	90	8	the	the	DET
fsr-3884	90	9	relative	relative	ADJ
fsr-3884	90	10	discount	discount	NOUN
fsr-3884	90	11	rates	rate	NOUN
fsr-3884	90	12	that	that	PRON
fsr-3884	90	13	investors	investor	NOUN
fsr-3884	90	14	apply	apply	VERB
fsr-3884	90	15	to	to	ADP
fsr-3884	90	16	dividend	dividend	NOUN
fsr-3884	90	17	income	income	NOUN
fsr-3884	90	18	versus	versus	ADP
fsr-3884	90	19	capital	capital	NOUN
fsr-3884	90	20	gains	gain	NOUN
fsr-3884	90	21	,	,	PUNCT
fsr-3884	90	22	an	an	DET
fsr-3884	90	23	unobservable	unobservable	ADJ
fsr-3884	90	24	factor	factor	NOUN
fsr-3884	90	25	.	.	PUNCT
fsr-3884	91	1	2.4	2.4	NUM
fsr-3884	91	2	.	.	PUNCT
fsr-3884	92	1	moneyness	moneyness	NOUN
fsr-3884	92	2	scores	score	NOUN
fsr-3884	92	3	share	share	VERB
fsr-3884	92	4	several	several	ADJ
fsr-3884	92	5	important	important	ADJ
fsr-3884	92	6	characteristics	characteristic	NOUN
fsr-3884	92	7	with	with	ADP
fsr-3884	92	8	call	call	NOUN
fsr-3884	92	9	options	option	NOUN
fsr-3884	92	10	.	.	PUNCT
fsr-3884	93	1	the	the	DET
fsr-3884	93	2	termination	termination	NOUN
fsr-3884	93	3	value	value	NOUN
fsr-3884	93	4	for	for	ADP
fsr-3884	93	5	each	each	DET
fsr-3884	93	6	trust	trust	NOUN
fsr-3884	93	7	serves	serve	VERB
fsr-3884	93	8	as	as	ADP
fsr-3884	93	9	ade	ade	NOUN
fsr-3884	93	10	factoexercise	factoexercise	ADJ
fsr-3884	93	11	price	price	NOUN
fsr-3884	93	12	.	.	PUNCT
fsr-3884	94	1	the	the	DET
fsr-3884	94	2	concept	concept	NOUN
fsr-3884	94	3	of	of	ADP
fsr-3884	94	4	moneyness	moneyness	NOUN
fsr-3884	94	5	(	(	PUNCT
fsr-3884	94	6	the	the	DET
fsr-3884	94	7	extent	extent	NOUN
fsr-3884	94	8	to	to	PART
fsr-3884	94	9	which	which	PRON
fsr-3884	94	10	90	90	NUM
fsr-3884	94	11	j.a	j.a	PROPN
fsr-3884	94	12	.	.	PROPN
fsr-3884	95	1	macdonald	macdonald	PROPN
fsr-3884	95	2	,	,	PUNCT
fsr-3884	95	3	d.m	d.m	PROPN
fsr-3884	95	4	.	.	PUNCT
fsr-3884	95	5	smith	smith	PROPN
fsr-3884	95	6	/	/	SYM
fsr-3884	95	7	financial	financial	ADJ
fsr-3884	95	8	services	service	NOUN
fsr-3884	95	9	review	review	VERB
fsr-3884	95	10	8	8	NUM
fsr-3884	95	11	(	(	PUNCT
fsr-3884	95	12	1999	1999	NUM
fsr-3884	95	13	)	)	PUNCT
fsr-3884	95	14	87–99	87–99	NOUN
fsr-3884	95	15	a	a	DET
fsr-3884	95	16	score	score	NOUN
fsr-3884	95	17	is	be	AUX
fsr-3884	95	18	inor	inor	ADJ
fsr-3884	95	19	out	out	ADP
fsr-3884	95	20	-	-	PUNCT
fsr-3884	95	21	of	of	ADP
fsr-3884	95	22	-	-	PUNCT
fsr-3884	95	23	the	the	DET
fsr-3884	95	24	-	-	PUNCT
fsr-3884	95	25	money	money	NOUN
fsr-3884	95	26	)	)	PUNCT
fsr-3884	95	27	is	be	AUX
fsr-3884	95	28	particularly	particularly	ADV
fsr-3884	95	29	important	important	ADJ
fsr-3884	95	30	to	to	ADP
fsr-3884	95	31	this	this	DET
fsr-3884	95	32	study	study	NOUN
fsr-3884	95	33	.	.	PUNCT
fsr-3884	96	1	the	the	DET
fsr-3884	96	2	moneyness	moneyness	NOUN
fsr-3884	96	3	for	for	ADP
fsr-3884	96	4	the	the	DET
fsr-3884	96	5	score	score	NOUN
fsr-3884	96	6	of	of	ADP
fsr-3884	96	7	firm	firm	ADJ
fsr-3884	96	8	j	j	PROPN
fsr-3884	96	9	on	on	ADP
fsr-3884	96	10	day	day	NOUN
fsr-3884	96	11	t	t	PROPN
fsr-3884	96	12	is	be	AUX
fsr-3884	96	13	calculated	calculate	VERB
fsr-3884	96	14	as	as	ADP
fsr-3884	96	15	moneynessjt	moneynessjt	VERB
fsr-3884	96	16	5	5	NUM
fsr-3884	96	17	stock	stock	NOUN
fsr-3884	96	18	pricejt	pricejt	NOUN
fsr-3884	96	19	2	2	NUM
fsr-3884	96	20	termination	termination	NOUN
fsr-3884	96	21	valuej	valuej	ADJ
fsr-3884	96	22	termination	termination	NOUN
fsr-3884	96	23	valuej	valuej	NOUN
fsr-3884	96	24	(	(	PUNCT
fsr-3884	96	25	1	1	X
fsr-3884	96	26	)	)	PUNCT
fsr-3884	96	27	recall	recall	NOUN
fsr-3884	96	28	that	that	SCONJ
fsr-3884	96	29	the	the	DET
fsr-3884	96	30	prime	prime	NOUN
fsr-3884	96	31	’s	’s	PART
fsr-3884	96	32	value	value	NOUN
fsr-3884	96	33	includes	include	VERB
fsr-3884	96	34	all	all	DET
fsr-3884	96	35	dividends	dividend	NOUN
fsr-3884	96	36	plus	plus	CCONJ
fsr-3884	96	37	an	an	DET
fsr-3884	96	38	amount	amount	NOUN
fsr-3884	96	39	up	up	ADP
fsr-3884	96	40	to	to	ADP
fsr-3884	96	41	a	a	DET
fsr-3884	96	42	termination	termination	NOUN
fsr-3884	96	43	value	value	NOUN
fsr-3884	96	44	.	.	PUNCT
fsr-3884	97	1	if	if	SCONJ
fsr-3884	97	2	the	the	DET
fsr-3884	97	3	stock	stock	NOUN
fsr-3884	97	4	price	price	NOUN
fsr-3884	97	5	isbelow	isbelow	NOUN
fsr-3884	97	6	the	the	DET
fsr-3884	97	7	termination	termination	NOUN
fsr-3884	97	8	value	value	NOUN
fsr-3884	97	9	at	at	ADP
fsr-3884	97	10	the	the	DET
fsr-3884	97	11	time	time	NOUN
fsr-3884	97	12	of	of	ADP
fsr-3884	97	13	a	a	DET
fsr-3884	97	14	value	value	NOUN
fsr-3884	97	15	-	-	PUNCT
fsr-3884	97	16	increasing	increase	VERB
fsr-3884	97	17	,	,	PUNCT
fsr-3884	97	18	positive	positive	ADJ
fsr-3884	97	19	surprise	surprise	NOUN
fsr-3884	97	20	,	,	PUNCT
fsr-3884	97	21	then	then	ADV
fsr-3884	97	22	the	the	DET
fsr-3884	97	23	prime	prime	NOUN
fsr-3884	97	24	’s	’s	PART
fsr-3884	97	25	return	return	NOUN
fsr-3884	97	26	will	will	AUX
fsr-3884	97	27	reflect	reflect	VERB
fsr-3884	97	28	both	both	CCONJ
fsr-3884	97	29	the	the	DET
fsr-3884	97	30	increased	increase	VERB
fsr-3884	97	31	expected	expect	VERB
fsr-3884	97	32	future	future	ADJ
fsr-3884	97	33	dividends	dividend	NOUN
fsr-3884	97	34	plus	plus	CCONJ
fsr-3884	97	35	the	the	DET
fsr-3884	97	36	capital	capital	NOUN
fsr-3884	97	37	appreciation	appreciation	NOUN
fsr-3884	97	38	toward	toward	ADP
fsr-3884	97	39	the	the	DET
fsr-3884	97	40	termination	termination	NOUN
fsr-3884	97	41	claim	claim	NOUN
fsr-3884	97	42	.	.	PUNCT
fsr-3884	98	1	such	such	ADJ
fsr-3884	98	2	observations	observation	NOUN
fsr-3884	98	3	are	be	AUX
fsr-3884	98	4	likely	likely	ADJ
fsr-3884	98	5	to	to	PART
fsr-3884	98	6	introduce	introduce	VERB
fsr-3884	98	7	error	error	NOUN
fsr-3884	98	8	into	into	ADP
fsr-3884	98	9	the	the	DET
fsr-3884	98	10	present	present	ADJ
fsr-3884	98	11	analysis	analysis	NOUN
fsr-3884	98	12	,	,	PUNCT
fsr-3884	98	13	because	because	SCONJ
fsr-3884	98	14	in	in	ADP
fsr-3884	98	15	theory	theory	NOUN
fsr-3884	98	16	the	the	DET
fsr-3884	98	17	prime	prime	NOUN
fsr-3884	98	18	will	will	AUX
fsr-3884	98	19	reflect	reflect	VERB
fsr-3884	98	20	a	a	DET
fsr-3884	98	21	pure	pure	ADJ
fsr-3884	98	22	dividend	dividend	NOUN
fsr-3884	98	23	stream	stream	NOUN
fsr-3884	98	24	and	and	CCONJ
fsr-3884	98	25	the	the	DET
fsr-3884	98	26	score	score	NOUN
fsr-3884	98	27	a	a	DET
fsr-3884	98	28	pure	pure	ADJ
fsr-3884	98	29	capital	capital	NOUN
fsr-3884	98	30	gain	gain	NOUN
fsr-3884	98	31	return	return	NOUN
fsr-3884	98	32	only	only	ADV
fsr-3884	98	33	if	if	SCONJ
fsr-3884	98	34	the	the	DET
fsr-3884	98	35	score	score	NOUN
fsr-3884	98	36	is	be	AUX
fsr-3884	98	37	in	in	ADP
fsr-3884	98	38	or	or	CCONJ
fsr-3884	98	39	at	at	ADP
fsr-3884	98	40	the	the	DET
fsr-3884	98	41	money	money	NOUN
fsr-3884	98	42	.	.	PUNCT
fsr-3884	99	1	hence	hence	ADV
fsr-3884	99	2	,	,	PUNCT
fsr-3884	99	3	only	only	ADV
fsr-3884	99	4	scores	score	NOUN
fsr-3884	99	5	that	that	PRON
fsr-3884	99	6	are	be	AUX
fsr-3884	99	7	in	in	ADP
fsr-3884	99	8	the	the	DET
fsr-3884	99	9	money	money	NOUN
fsr-3884	99	10	during	during	ADP
fsr-3884	99	11	the	the	DET
fsr-3884	99	12	entire	entire	ADJ
fsr-3884	99	13	parameter	parameter	NOUN
fsr-3884	99	14	estimation	estimation	NOUN
fsr-3884	99	15	and	and	CCONJ
fsr-3884	99	16	event	event	NOUN
fsr-3884	99	17	period	period	NOUN
fsr-3884	99	18	are	be	AUX
fsr-3884	99	19	included	include	VERB
fsr-3884	99	20	in	in	ADP
fsr-3884	99	21	the	the	DET
fsr-3884	99	22	final	final	ADJ
fsr-3884	99	23	sample	sample	NOUN
fsr-3884	99	24	.	.	PUNCT
fsr-3884	100	1	some	some	DET
fsr-3884	100	2	noise	noise	NOUN
fsr-3884	100	3	doubtless	doubtless	NOUN
fsr-3884	100	4	remains	remain	VERB
fsr-3884	100	5	,	,	PUNCT
fsr-3884	100	6	because	because	SCONJ
fsr-3884	100	7	the	the	DET
fsr-3884	100	8	prime	prime	NOUN
fsr-3884	100	9	can	can	AUX
fsr-3884	100	10	never	never	ADV
fsr-3884	100	11	represent	represent	VERB
fsr-3884	100	12	aperfectdividend	aperfectdividend	NOUN
fsr-3884	100	13	stream	stream	NOUN
fsr-3884	100	14	.	.	PUNCT
fsr-3884	101	1	even	even	ADV
fsr-3884	101	2	when	when	SCONJ
fsr-3884	101	3	the	the	DET
fsr-3884	101	4	stock	stock	NOUN
fsr-3884	101	5	price	price	NOUN
fsr-3884	101	6	is	be	AUX
fsr-3884	101	7	above	above	ADP
fsr-3884	101	8	the	the	DET
fsr-3884	101	9	termination	termination	NOUN
fsr-3884	101	10	value	value	NOUN
fsr-3884	101	11	,	,	PUNCT
fsr-3884	101	12	some	some	PRON
fsr-3884	101	13	of	of	ADP
fsr-3884	101	14	the	the	DET
fsr-3884	101	15	prime	prime	NOUN
fsr-3884	101	16	’s	’s	PART
fsr-3884	101	17	return	return	NOUN
fsr-3884	101	18	during	during	ADP
fsr-3884	101	19	earnings	earning	NOUN
fsr-3884	101	20	surprises	surprise	NOUN
fsr-3884	101	21	will	will	AUX
fsr-3884	101	22	still	still	ADV
fsr-3884	101	23	reflect	reflect	VERB
fsr-3884	101	24	whether	whether	SCONJ
fsr-3884	101	25	the	the	DET
fsr-3884	101	26	prime	prime	ADJ
fsr-3884	101	27	holder	holder	NOUN
fsr-3884	101	28	’s	’s	PART
fsr-3884	101	29	receipt	receipt	NOUN
fsr-3884	101	30	of	of	ADP
fsr-3884	101	31	the	the	DET
fsr-3884	101	32	termination	termination	NOUN
fsr-3884	101	33	claim	claim	NOUN
fsr-3884	101	34	is	be	AUX
fsr-3884	101	35	made	make	VERB
fsr-3884	101	36	more	more	ADV
fsr-3884	101	37	certain	certain	ADJ
fsr-3884	101	38	or	or	CCONJ
fsr-3884	101	39	less	less	ADV
fsr-3884	101	40	certain	certain	ADJ
fsr-3884	101	41	as	as	ADP
fsr-3884	101	42	a	a	DET
fsr-3884	101	43	result	result	NOUN
fsr-3884	101	44	of	of	ADP
fsr-3884	101	45	the	the	DET
fsr-3884	101	46	earnings	earning	NOUN
fsr-3884	101	47	news	news	NOUN
fsr-3884	101	48	.	.	PUNCT
fsr-3884	102	1	the	the	DET
fsr-3884	102	2	safety	safety	NOUN
fsr-3884	102	3	effect	effect	NOUN
fsr-3884	102	4	for	for	ADP
fsr-3884	102	5	primes	prime	NOUN
fsr-3884	102	6	associated	associate	VERB
fsr-3884	102	7	with	with	ADP
fsr-3884	102	8	in	in	ADP
fsr-3884	102	9	-	-	PUNCT
fsr-3884	102	10	the	the	DET
fsr-3884	102	11	-	-	PUNCT
fsr-3884	102	12	money	money	NOUN
fsr-3884	102	13	scores	score	NOUN
fsr-3884	102	14	has	have	VERB
fsr-3884	102	15	an	an	DET
fsr-3884	102	16	analogy	analogy	NOUN
fsr-3884	102	17	elsewhere	elsewhere	ADV
fsr-3884	102	18	in	in	ADP
fsr-3884	102	19	corporate	corporate	ADJ
fsr-3884	102	20	finance	finance	NOUN
fsr-3884	102	21	.	.	PUNCT
fsr-3884	103	1	jin	jin	NOUN
fsr-3884	103	2	(	(	PUNCT
fsr-3884	103	3	1992	1992	NUM
fsr-3884	103	4	)	)	PUNCT
fsr-3884	103	5	finds	find	VERB
fsr-3884	103	6	that	that	SCONJ
fsr-3884	103	7	even	even	ADV
fsr-3884	103	8	though	though	SCONJ
fsr-3884	103	9	the	the	DET
fsr-3884	103	10	promised	promise	VERB
fsr-3884	103	11	payments	payment	NOUN
fsr-3884	103	12	remain	remain	AUX
fsr-3884	103	13	fixed	fix	VERB
fsr-3884	103	14	for	for	ADP
fsr-3884	103	15	corporate	corporate	ADJ
fsr-3884	103	16	bonds	bond	NOUN
fsr-3884	103	17	,	,	PUNCT
fsr-3884	103	18	the	the	DET
fsr-3884	103	19	returns	return	NOUN
fsr-3884	103	20	for	for	ADP
fsr-3884	103	21	such	such	ADJ
fsr-3884	103	22	securities	security	NOUN
fsr-3884	103	23	tend	tend	VERB
fsr-3884	103	24	to	to	PART
fsr-3884	103	25	be	be	AUX
fsr-3884	103	26	highly	highly	ADV
fsr-3884	103	27	correlated	correlate	VERB
fsr-3884	103	28	with	with	ADP
fsr-3884	103	29	the	the	DET
fsr-3884	103	30	sign	sign	NOUN
fsr-3884	103	31	of	of	ADP
fsr-3884	103	32	corporate	corporate	ADJ
fsr-3884	103	33	earnings	earning	NOUN
fsr-3884	103	34	surprises	surprise	NOUN
fsr-3884	103	35	.	.	PUNCT
fsr-3884	104	1	in	in	ADP
fsr-3884	104	2	the	the	DET
fsr-3884	104	3	present	present	ADJ
fsr-3884	104	4	study	study	NOUN
fsr-3884	104	5	,	,	PUNCT
fsr-3884	104	6	the	the	DET
fsr-3884	104	7	upshot	upshot	NOUN
fsr-3884	104	8	of	of	ADP
fsr-3884	104	9	this	this	DET
fsr-3884	104	10	safety	safety	NOUN
fsr-3884	104	11	effect	effect	NOUN
fsr-3884	104	12	is	be	AUX
fsr-3884	104	13	to	to	PART
fsr-3884	104	14	overstate	overstate	VERB
fsr-3884	104	15	somewhat	somewhat	ADV
fsr-3884	104	16	the	the	DET
fsr-3884	104	17	dividend	dividend	NOUN
fsr-3884	104	18	income	income	NOUN
fsr-3884	104	19	component	component	NOUN
fsr-3884	104	20	of	of	ADP
fsr-3884	104	21	return	return	NOUN
fsr-3884	104	22	.	.	PUNCT
fsr-3884	105	1	the	the	DET
fsr-3884	105	2	proportional	proportional	ADJ
fsr-3884	105	3	return	return	NOUN
fsr-3884	105	4	from	from	ADP
fsr-3884	105	5	primes	prime	NOUN
fsr-3884	105	6	should	should	AUX
fsr-3884	105	7	thus	thus	ADV
fsr-3884	105	8	be	be	AUX
fsr-3884	105	9	viewed	view	VERB
fsr-3884	105	10	as	as	ADP
fsr-3884	105	11	an	an	DET
fsr-3884	105	12	upper	upper	ADJ
fsr-3884	105	13	bound	bind	VERB
fsr-3884	105	14	dividend	dividend	NOUN
fsr-3884	105	15	return	return	NOUN
fsr-3884	105	16	.	.	PUNCT
fsr-3884	106	1	even	even	ADV
fsr-3884	106	2	with	with	ADP
fsr-3884	106	3	out	out	ADV
fsr-3884	106	4	-	-	PUNCT
fsr-3884	106	5	of	of	ADP
fsr-3884	106	6	-	-	PUNCT
fsr-3884	106	7	the	the	DET
fsr-3884	106	8	-	-	PUNCT
fsr-3884	106	9	money	money	NOUN
fsr-3884	106	10	scores	score	NOUN
fsr-3884	106	11	eliminated	eliminate	VERB
fsr-3884	106	12	,	,	PUNCT
fsr-3884	106	13	there	there	PRON
fsr-3884	106	14	remains	remain	VERB
fsr-3884	106	15	a	a	DET
fsr-3884	106	16	high	high	ADJ
fsr-3884	106	17	degree	degree	NOUN
fsr-3884	106	18	of	of	ADP
fsr-3884	106	19	crosssectional	crosssectional	ADJ
fsr-3884	106	20	variability	variability	NOUN
fsr-3884	106	21	in	in	ADP
fsr-3884	106	22	moneyness	moneyness	NOUN
fsr-3884	106	23	among	among	ADP
fsr-3884	106	24	surviving	survive	VERB
fsr-3884	106	25	observations	observation	NOUN
fsr-3884	106	26	.	.	PUNCT
fsr-3884	107	1	the	the	DET
fsr-3884	107	2	prime	prime	PROPN
fsr-3884	107	3	’s	’s	PART
fsr-3884	107	4	safety	safety	NOUN
fsr-3884	107	5	effect	effect	NOUN
fsr-3884	107	6	will	will	AUX
fsr-3884	107	7	become	become	VERB
fsr-3884	107	8	smaller	small	ADJ
fsr-3884	107	9	when	when	SCONJ
fsr-3884	107	10	a	a	DET
fsr-3884	107	11	trust	trust	NOUN
fsr-3884	107	12	’s	’s	PART
fsr-3884	107	13	score	score	NOUN
fsr-3884	107	14	is	be	AUX
fsr-3884	107	15	deep	deep	ADJ
fsr-3884	107	16	in	in	ADP
fsr-3884	107	17	-	-	PUNCT
fsr-3884	107	18	the	the	DET
fsr-3884	107	19	-	-	PUNCT
fsr-3884	107	20	money	money	NOUN
fsr-3884	107	21	,	,	PUNCT
fsr-3884	107	22	thus	thus	ADV
fsr-3884	107	23	causing	cause	VERB
fsr-3884	107	24	the	the	DET
fsr-3884	107	25	score	score	NOUN
fsr-3884	107	26	’s	’s	PART
fsr-3884	107	27	proportional	proportional	ADJ
fsr-3884	107	28	return	return	NOUN
fsr-3884	107	29	to	to	PART
fsr-3884	107	30	be	be	AUX
fsr-3884	107	31	higher	high	ADJ
fsr-3884	107	32	relative	relative	ADJ
fsr-3884	107	33	to	to	ADP
fsr-3884	107	34	the	the	DET
fsr-3884	107	35	prime	prime	NOUN
fsr-3884	107	36	.	.	PUNCT
fsr-3884	108	1	a	a	DET
fsr-3884	108	2	countervailing	countervailing	ADJ
fsr-3884	108	3	effect	effect	NOUN
fsr-3884	108	4	could	could	AUX
fsr-3884	108	5	arise	arise	VERB
fsr-3884	108	6	from	from	ADP
fsr-3884	108	7	the	the	DET
fsr-3884	108	8	propensity	propensity	NOUN
fsr-3884	108	9	of	of	ADP
fsr-3884	108	10	stock	stock	NOUN
fsr-3884	108	11	prices	price	NOUN
fsr-3884	108	12	toward	toward	ADP
fsr-3884	108	13	mean	mean	ADJ
fsr-3884	108	14	reversion	reversion	NOUN
fsr-3884	108	15	,	,	PUNCT
fsr-3884	108	16	as	as	SCONJ
fsr-3884	108	17	discussed	discuss	VERB
fsr-3884	108	18	by	by	ADP
fsr-3884	108	19	de	de	X
fsr-3884	108	20	bondt	bondt	NOUN
fsr-3884	108	21	and	and	CCONJ
fsr-3884	108	22	thaler	thaler	PROPN
fsr-3884	108	23	(	(	PUNCT
fsr-3884	108	24	1985	1985	NUM
fsr-3884	108	25	,	,	PUNCT
fsr-3884	108	26	1987	1987	NUM
fsr-3884	108	27	)	)	PUNCT
fsr-3884	108	28	.	.	PUNCT
fsr-3884	109	1	in	in	ADP
fsr-3884	109	2	order	order	NOUN
fsr-3884	109	3	for	for	SCONJ
fsr-3884	109	4	a	a	DET
fsr-3884	109	5	score	score	NOUN
fsr-3884	109	6	to	to	PART
fsr-3884	109	7	be	be	AUX
fsr-3884	109	8	deep	deep	ADJ
fsr-3884	109	9	in	in	ADP
fsr-3884	109	10	the	the	DET
fsr-3884	109	11	money	money	NOUN
fsr-3884	109	12	,	,	PUNCT
fsr-3884	109	13	the	the	DET
fsr-3884	109	14	stock	stock	NOUN
fsr-3884	109	15	price	price	NOUN
fsr-3884	109	16	must	must	AUX
fsr-3884	109	17	have	have	AUX
fsr-3884	109	18	risen	rise	VERB
fsr-3884	109	19	significantly	significantly	ADV
fsr-3884	109	20	since	since	SCONJ
fsr-3884	109	21	the	the	DET
fsr-3884	109	22	trust	trust	NOUN
fsr-3884	109	23	’s	’s	PART
fsr-3884	109	24	inception	inception	NOUN
fsr-3884	109	25	.	.	PUNCT
fsr-3884	110	1	mean	mean	ADJ
fsr-3884	110	2	reversion	reversion	NOUN
fsr-3884	110	3	behavior	behavior	NOUN
fsr-3884	110	4	would	would	AUX
fsr-3884	110	5	suggest	suggest	VERB
fsr-3884	110	6	that	that	SCONJ
fsr-3884	110	7	a	a	DET
fsr-3884	110	8	price	price	NOUN
fsr-3884	110	9	decline	decline	NOUN
fsr-3884	110	10	is	be	AUX
fsr-3884	110	11	more	more	ADV
fsr-3884	110	12	likely	likely	ADJ
fsr-3884	110	13	for	for	ADP
fsr-3884	110	14	stocks	stock	NOUN
fsr-3884	110	15	in	in	ADP
fsr-3884	110	16	the	the	DET
fsr-3884	110	17	sample	sample	NOUN
fsr-3884	110	18	than	than	ADP
fsr-3884	110	19	for	for	ADP
fsr-3884	110	20	stocks	stock	NOUN
fsr-3884	110	21	whose	whose	DET
fsr-3884	110	22	price	price	NOUN
fsr-3884	110	23	had	have	AUX
fsr-3884	110	24	not	not	PART
fsr-3884	110	25	risen	rise	VERB
fsr-3884	110	26	;	;	PUNCT
fsr-3884	110	27	however	however	ADV
fsr-3884	110	28	,	,	PUNCT
fsr-3884	110	29	de	de	X
fsr-3884	110	30	bondt	bondt	NOUN
fsr-3884	110	31	and	and	CCONJ
fsr-3884	110	32	thaler	thaler	PROPN
fsr-3884	110	33	note	note	VERB
fsr-3884	110	34	that	that	SCONJ
fsr-3884	110	35	the	the	DET
fsr-3884	110	36	phenomenon	phenomenon	NOUN
fsr-3884	110	37	is	be	AUX
fsr-3884	110	38	far	far	ADV
fsr-3884	110	39	less	less	ADV
fsr-3884	110	40	striking	striking	ADJ
fsr-3884	110	41	for	for	ADP
fsr-3884	110	42	prior	prior	ADJ
fsr-3884	110	43	winners	winner	NOUN
fsr-3884	110	44	than	than	ADP
fsr-3884	110	45	for	for	ADP
fsr-3884	110	46	losers	loser	NOUN
fsr-3884	110	47	.	.	PUNCT
fsr-3884	111	1	consequently	consequently	ADV
fsr-3884	111	2	,	,	PUNCT
fsr-3884	111	3	mean	mean	VERB
fsr-3884	111	4	reverting	revert	VERB
fsr-3884	111	5	tendencies	tendency	NOUN
fsr-3884	111	6	are	be	AUX
fsr-3884	111	7	expected	expect	VERB
fsr-3884	111	8	to	to	PART
fsr-3884	111	9	have	have	VERB
fsr-3884	111	10	only	only	ADV
fsr-3884	111	11	a	a	DET
fsr-3884	111	12	minor	minor	ADJ
fsr-3884	111	13	impact	impact	NOUN
fsr-3884	111	14	on	on	ADP
fsr-3884	111	15	in	in	ADP
fsr-3884	111	16	-	-	PUNCT
fsr-3884	111	17	the	the	DET
fsr-3884	111	18	-	-	PUNCT
fsr-3884	111	19	money	money	NOUN
fsr-3884	111	20	scores	score	NOUN
fsr-3884	111	21	,	,	PUNCT
fsr-3884	111	22	and	and	CCONJ
fsr-3884	111	23	by	by	ADP
fsr-3884	111	24	extension	extension	NOUN
fsr-3884	111	25	on	on	ADP
fsr-3884	111	26	the	the	DET
fsr-3884	111	27	division	division	NOUN
fsr-3884	111	28	of	of	ADP
fsr-3884	111	29	returns	return	NOUN
fsr-3884	111	30	between	between	ADP
fsr-3884	111	31	prime	prime	NOUN
fsr-3884	111	32	and	and	CCONJ
fsr-3884	111	33	score	score	NOUN
fsr-3884	111	34	.	.	PUNCT
fsr-3884	112	1	2.5	2.5	NUM
fsr-3884	112	2	.	.	PUNCT
fsr-3884	113	1	fiscal	fiscal	ADJ
fsr-3884	113	2	quarter	quarter	NOUN
fsr-3884	113	3	effects	effect	NOUN
fsr-3884	113	4	jones	jones	PROPN
fsr-3884	113	5	and	and	CCONJ
fsr-3884	113	6	bublitz	bublitz	PROPN
fsr-3884	113	7	(	(	PUNCT
fsr-3884	113	8	1990	1990	NUM
fsr-3884	113	9	)	)	PUNCT
fsr-3884	113	10	address	address	NOUN
fsr-3884	113	11	the	the	DET
fsr-3884	113	12	question	question	NOUN
fsr-3884	113	13	of	of	ADP
fsr-3884	113	14	higher	high	ADJ
fsr-3884	113	15	-	-	PUNCT
fsr-3884	113	16	than	than	ADP
fsr-3884	113	17	-	-	PUNCT
fsr-3884	113	18	expected	expect	VERB
fsr-3884	113	19	errors	error	NOUN
fsr-3884	113	20	in	in	ADP
fsr-3884	113	21	earnings	earning	NOUN
fsr-3884	113	22	forecasts	forecast	NOUN
fsr-3884	113	23	found	find	VERB
fsr-3884	113	24	to	to	PART
fsr-3884	113	25	persist	persist	VERB
fsr-3884	113	26	in	in	ADP
fsr-3884	113	27	fiscal	fiscal	ADJ
fsr-3884	113	28	fourth	fourth	ADJ
fsr-3884	113	29	quarters	quarter	NOUN
fsr-3884	113	30	.	.	PUNCT
fsr-3884	114	1	non	non	ADJ
fsr-3884	114	2	-	-	ADJ
fsr-3884	114	3	recurring	recurring	ADJ
fsr-3884	114	4	items	item	NOUN
fsr-3884	114	5	are	be	AUX
fsr-3884	114	6	much	much	ADV
fsr-3884	114	7	more	more	ADV
fsr-3884	114	8	likely	likely	ADJ
fsr-3884	114	9	to	to	PART
fsr-3884	114	10	be	be	AUX
fsr-3884	114	11	included	include	VERB
fsr-3884	114	12	in	in	ADP
fsr-3884	114	13	that	that	DET
fsr-3884	114	14	quarter	quarter	NOUN
fsr-3884	114	15	’s	’s	PART
fsr-3884	114	16	reported	report	VERB
fsr-3884	114	17	income	income	NOUN
fsr-3884	114	18	than	than	ADP
fsr-3884	114	19	in	in	ADP
fsr-3884	114	20	other	other	ADJ
fsr-3884	114	21	quarters	quarter	NOUN
fsr-3884	114	22	’	'	PUNCT
fsr-3884	114	23	.	.	PUNCT
fsr-3884	115	1	accordingly	accordingly	ADV
fsr-3884	115	2	,	,	PUNCT
fsr-3884	115	3	the	the	DET
fsr-3884	115	4	market	market	NOUN
fsr-3884	115	5	’s	’s	PART
fsr-3884	115	6	average	average	ADJ
fsr-3884	115	7	reaction	reaction	NOUN
fsr-3884	115	8	to	to	ADP
fsr-3884	115	9	unexpected	unexpected	ADJ
fsr-3884	115	10	fourth	fourth	ADJ
fsr-3884	115	11	quarter	quarter	NOUN
fsr-3884	115	12	earnings	earning	NOUN
fsr-3884	115	13	is	be	AUX
fsr-3884	115	14	somewhat	somewhat	ADV
fsr-3884	115	15	muted	mute	VERB
fsr-3884	115	16	.	.	PUNCT
fsr-3884	116	1	such	such	DET
fsr-3884	116	2	a	a	DET
fsr-3884	116	3	finding	finding	NOUN
fsr-3884	116	4	raises	raise	VERB
fsr-3884	116	5	the	the	DET
fsr-3884	116	6	question	question	NOUN
fsr-3884	116	7	of	of	ADP
fsr-3884	116	8	whether	whether	SCONJ
fsr-3884	116	9	the	the	DET
fsr-3884	116	10	present	present	ADJ
fsr-3884	116	11	study	study	NOUN
fsr-3884	116	12	’s	’s	PART
fsr-3884	116	13	results	result	NOUN
fsr-3884	116	14	might	might	AUX
fsr-3884	116	15	be	be	AUX
fsr-3884	116	16	driven	drive	VERB
fsr-3884	116	17	by	by	ADP
fsr-3884	116	18	its	its	PRON
fsr-3884	116	19	fourth	fourth	ADJ
fsr-3884	116	20	91j.a	91j.a	NUM
fsr-3884	116	21	.	.	PUNCT
fsr-3884	117	1	macdonald	macdonald	PROPN
fsr-3884	117	2	,	,	PUNCT
fsr-3884	117	3	d.m	d.m	PROPN
fsr-3884	117	4	.	.	PUNCT
fsr-3884	117	5	smith	smith	PROPN
fsr-3884	117	6	/	/	SYM
fsr-3884	117	7	financial	financial	ADJ
fsr-3884	117	8	services	service	NOUN
fsr-3884	117	9	review	review	VERB
fsr-3884	117	10	8	8	NUM
fsr-3884	117	11	(	(	PUNCT
fsr-3884	117	12	1999	1999	NUM
fsr-3884	117	13	)	)	PUNCT
fsr-3884	117	14	87–99	87–99	NUM
fsr-3884	117	15	quarter	quarter	NOUN
fsr-3884	117	16	observations	observation	NOUN
fsr-3884	117	17	.	.	PUNCT
fsr-3884	118	1	if	if	SCONJ
fsr-3884	118	2	fourth	fourth	ADJ
fsr-3884	118	3	quarter	quarter	NOUN
fsr-3884	118	4	earnings	earning	NOUN
fsr-3884	118	5	after	after	ADP
fsr-3884	118	6	extraordinary	extraordinary	ADJ
fsr-3884	118	7	items	item	NOUN
fsr-3884	118	8	are	be	AUX
fsr-3884	118	9	more	more	ADV
fsr-3884	118	10	variable	variable	ADJ
fsr-3884	118	11	than	than	ADP
fsr-3884	118	12	those	those	PRON
fsr-3884	118	13	of	of	ADP
fsr-3884	118	14	other	other	ADJ
fsr-3884	118	15	quarters	quarter	NOUN
fsr-3884	118	16	,	,	PUNCT
fsr-3884	118	17	it	it	PRON
fsr-3884	118	18	follows	follow	VERB
fsr-3884	118	19	that	that	SCONJ
fsr-3884	118	20	permanent	permanent	ADJ
fsr-3884	118	21	dividend	dividend	NOUN
fsr-3884	118	22	changes	change	NOUN
fsr-3884	118	23	should	should	AUX
fsr-3884	118	24	not	not	PART
fsr-3884	118	25	be	be	AUX
fsr-3884	118	26	as	as	ADV
fsr-3884	118	27	strongly	strongly	ADV
fsr-3884	118	28	tied	tie	VERB
fsr-3884	118	29	to	to	ADP
fsr-3884	118	30	earnings	earning	NOUN
fsr-3884	118	31	in	in	ADP
fsr-3884	118	32	that	that	DET
fsr-3884	118	33	quarter	quarter	NOUN
fsr-3884	118	34	.	.	PUNCT
fsr-3884	119	1	thus	thus	ADV
fsr-3884	119	2	,	,	PUNCT
fsr-3884	119	3	one	one	PRON
fsr-3884	119	4	should	should	AUX
fsr-3884	119	5	expect	expect	VERB
fsr-3884	119	6	a	a	DET
fsr-3884	119	7	greater	great	ADJ
fsr-3884	119	8	relative	relative	ADJ
fsr-3884	119	9	return	return	NOUN
fsr-3884	119	10	from	from	ADP
fsr-3884	119	11	scores	score	NOUN
fsr-3884	119	12	versus	versus	ADP
fsr-3884	119	13	primes	prime	NOUN
fsr-3884	119	14	around	around	ADP
fsr-3884	119	15	fourth	fourth	ADJ
fsr-3884	119	16	quarter	quarter	NOUN
fsr-3884	119	17	earnings	earning	NOUN
fsr-3884	119	18	announcements	announcement	NOUN
fsr-3884	119	19	.	.	PUNCT
fsr-3884	120	1	3	3	X
fsr-3884	120	2	.	.	X
fsr-3884	120	3	data	datum	NOUN
fsr-3884	120	4	and	and	CCONJ
fsr-3884	120	5	methodology	methodology	NOUN
fsr-3884	120	6	the	the	DET
fsr-3884	120	7	primary	primary	ADJ
fsr-3884	120	8	data	datum	NOUN
fsr-3884	120	9	for	for	ADP
fsr-3884	120	10	this	this	DET
fsr-3884	120	11	study	study	NOUN
fsr-3884	120	12	cover	cover	VERB
fsr-3884	120	13	26	26	NUM
fsr-3884	120	14	americus	americus	NOUN
fsr-3884	120	15	trusts	trust	NOUN
fsr-3884	120	16	.	.	PUNCT
fsr-3884	121	1	the	the	DET
fsr-3884	121	2	original	original	ADJ
fsr-3884	121	3	at&t	at&t	PROPN
fsr-3884	121	4	trust	trust	PROPN
fsr-3884	121	5	,	,	PUNCT
fsr-3884	121	6	established	establish	VERB
fsr-3884	121	7	in	in	ADP
fsr-3884	121	8	1983	1983	NUM
fsr-3884	121	9	,	,	PUNCT
fsr-3884	121	10	is	be	AUX
fsr-3884	121	11	eliminated	eliminate	VERB
fsr-3884	121	12	from	from	ADP
fsr-3884	121	13	the	the	DET
fsr-3884	121	14	sample	sample	NOUN
fsr-3884	121	15	due	due	ADP
fsr-3884	121	16	to	to	ADP
fsr-3884	121	17	a	a	DET
fsr-3884	121	18	paucity	paucity	NOUN
fsr-3884	121	19	of	of	ADP
fsr-3884	121	20	historical	historical	ADJ
fsr-3884	121	21	earnings	earning	NOUN
fsr-3884	121	22	information	information	NOUN
fsr-3884	121	23	for	for	ADP
fsr-3884	121	24	the	the	DET
fsr-3884	121	25	newly	newly	ADV
fsr-3884	121	26	restructured	restructure	VERB
fsr-3884	121	27	firm	firm	NOUN
fsr-3884	121	28	.	.	PUNCT
fsr-3884	122	1	gte	gte	PROPN
fsr-3884	122	2	’s	’s	PART
fsr-3884	122	3	trust	trust	NOUN
fsr-3884	122	4	is	be	AUX
fsr-3884	122	5	limited	limit	VERB
fsr-3884	122	6	to	to	ADP
fsr-3884	122	7	the	the	DET
fsr-3884	122	8	sample	sample	NOUN
fsr-3884	122	9	period	period	NOUN
fsr-3884	122	10	before	before	ADP
fsr-3884	122	11	its	its	PRON
fsr-3884	122	12	acquisition	acquisition	NOUN
fsr-3884	122	13	of	of	ADP
fsr-3884	122	14	contel	contel	NOUN
fsr-3884	122	15	in	in	ADP
fsr-3884	122	16	march	march	PROPN
fsr-3884	122	17	1991	1991	NUM
fsr-3884	122	18	.	.	PUNCT
fsr-3884	123	1	there	there	PRON
fsr-3884	123	2	are	be	VERB
fsr-3884	123	3	459	459	NUM
fsr-3884	123	4	earnings	earning	NOUN
fsr-3884	123	5	announcements	announcement	NOUN
fsr-3884	123	6	in	in	ADP
fsr-3884	123	7	the	the	DET
fsr-3884	123	8	initial	initial	ADJ
fsr-3884	123	9	sample	sample	NOUN
fsr-3884	123	10	,	,	PUNCT
fsr-3884	123	11	representing	represent	VERB
fsr-3884	123	12	the	the	DET
fsr-3884	123	13	time	time	NOUN
fsr-3884	123	14	period	period	NOUN
fsr-3884	123	15	december	december	PROPN
fsr-3884	123	16	1	1	NUM
fsr-3884	123	17	,	,	PUNCT
fsr-3884	123	18	1985	1985	NUM
fsr-3884	123	19	(	(	PUNCT
fsr-3884	123	20	when	when	SCONJ
fsr-3884	123	21	only	only	ADV
fsr-3884	123	22	the	the	DET
fsr-3884	123	23	exxon	exxon	PROPN
fsr-3884	123	24	trust	trust	PROPN
fsr-3884	123	25	existed	exist	VERB
fsr-3884	123	26	)	)	PUNCT
fsr-3884	123	27	through	through	ADP
fsr-3884	123	28	july	july	PROPN
fsr-3884	123	29	31	31	NUM
fsr-3884	123	30	,	,	PUNCT
fsr-3884	123	31	1992	1992	NUM
fsr-3884	123	32	(	(	PUNCT
fsr-3884	123	33	when	when	SCONJ
fsr-3884	123	34	only	only	ADV
fsr-3884	123	35	the	the	DET
fsr-3884	123	36	american	american	PROPN
fsr-3884	123	37	express	express	PROPN
fsr-3884	123	38	trust	trust	NOUN
fsr-3884	123	39	remained	remain	VERB
fsr-3884	123	40	)	)	PUNCT
fsr-3884	123	41	.	.	PUNCT
fsr-3884	124	1	the	the	DET
fsr-3884	124	2	present	present	ADJ
fsr-3884	124	3	study	study	NOUN
fsr-3884	124	4	’s	’s	PART
fsr-3884	124	5	requirement	requirement	NOUN
fsr-3884	124	6	that	that	SCONJ
fsr-3884	124	7	scores	score	NOUN
fsr-3884	124	8	be	be	VERB
fsr-3884	124	9	in	in	ADP
fsr-3884	124	10	-	-	PUNCT
fsr-3884	124	11	the	the	DET
fsr-3884	124	12	-	-	PUNCT
fsr-3884	124	13	money	money	NOUN
fsr-3884	124	14	results	result	NOUN
fsr-3884	124	15	in	in	ADP
fsr-3884	124	16	the	the	DET
fsr-3884	124	17	loss	loss	NOUN
fsr-3884	124	18	of	of	ADP
fsr-3884	124	19	323	323	NUM
fsr-3884	124	20	observations	observation	NOUN
fsr-3884	124	21	,	,	PUNCT
fsr-3884	124	22	meaning	mean	VERB
fsr-3884	124	23	that	that	SCONJ
fsr-3884	124	24	nine	nine	NUM
fsr-3884	124	25	trust	trust	NOUN
fsr-3884	124	26	firms	firm	NOUN
fsr-3884	124	27	are	be	AUX
fsr-3884	124	28	not	not	PART
fsr-3884	124	29	represented	represent	VERB
fsr-3884	124	30	at	at	ADV
fsr-3884	124	31	all	all	ADV
fsr-3884	124	32	in	in	ADP
fsr-3884	124	33	the	the	DET
fsr-3884	124	34	sample	sample	NOUN
fsr-3884	124	35	.	.	PUNCT
fsr-3884	125	1	quarterly	quarterly	ADJ
fsr-3884	125	2	primary	primary	ADJ
fsr-3884	125	3	earnings	earning	NOUN
fsr-3884	125	4	per	per	ADP
fsr-3884	125	5	share	share	NOUN
fsr-3884	125	6	before	before	ADP
fsr-3884	125	7	extraordinary	extraordinary	ADJ
fsr-3884	125	8	items	item	NOUN
fsr-3884	125	9	are	be	AUX
fsr-3884	125	10	obtained	obtain	VERB
fsr-3884	125	11	from	from	ADP
fsr-3884	125	12	the	the	DET
fsr-3884	125	13	compustat	compustat	NOUN
fsr-3884	125	14	database	database	NOUN
fsr-3884	125	15	from	from	ADP
fsr-3884	125	16	the	the	DET
fsr-3884	125	17	first	first	ADJ
fsr-3884	125	18	quarter	quarter	NOUN
fsr-3884	125	19	of	of	ADP
fsr-3884	125	20	1972	1972	NUM
fsr-3884	125	21	through	through	ADP
fsr-3884	125	22	the	the	DET
fsr-3884	125	23	expiration	expiration	NOUN
fsr-3884	125	24	of	of	ADP
fsr-3884	125	25	each	each	DET
fsr-3884	125	26	trust	trust	NOUN
fsr-3884	125	27	.	.	PUNCT
fsr-3884	126	1	the	the	DET
fsr-3884	126	2	earnings	earning	NOUN
fsr-3884	126	3	variable	variable	NOUN
fsr-3884	126	4	used	use	VERB
fsr-3884	126	5	is	be	AUX
fsr-3884	126	6	item	item	NOUN
fsr-3884	126	7	number	number	NOUN
fsr-3884	126	8	q19	q19	NOUN
fsr-3884	126	9	(	(	PUNCT
fsr-3884	126	10	epspxq	epspxq	PROPN
fsr-3884	126	11	)	)	PUNCT
fsr-3884	126	12	in	in	ADP
fsr-3884	126	13	compustat	compustat	NOUN
fsr-3884	126	14	pc	pc	NOUN
fsr-3884	126	15	-	-	PUNCT
fsr-3884	126	16	plus	plus	NOUN
fsr-3884	126	17	.	.	PUNCT
fsr-3884	127	1	for	for	ADP
fsr-3884	127	2	each	each	DET
fsr-3884	127	3	observation	observation	NOUN
fsr-3884	127	4	,	,	PUNCT
fsr-3884	127	5	the	the	DET
fsr-3884	127	6	analysis	analysis	NOUN
fsr-3884	127	7	requires	require	VERB
fsr-3884	127	8	that	that	SCONJ
fsr-3884	127	9	there	there	PRON
fsr-3884	127	10	be	be	VERB
fsr-3884	127	11	at	at	ADV
fsr-3884	127	12	least	least	ADJ
fsr-3884	127	13	one	one	NUM
fsr-3884	127	14	dividend	dividend	NOUN
fsr-3884	127	15	declaration	declaration	NOUN
fsr-3884	127	16	remaining	remain	VERB
fsr-3884	127	17	between	between	ADP
fsr-3884	127	18	the	the	DET
fsr-3884	127	19	earnings	earning	NOUN
fsr-3884	127	20	announcement	announcement	NOUN
fsr-3884	127	21	date	date	NOUN
fsr-3884	127	22	and	and	CCONJ
fsr-3884	127	23	the	the	DET
fsr-3884	127	24	expiration	expiration	NOUN
fsr-3884	127	25	date	date	NOUN
fsr-3884	127	26	of	of	ADP
fsr-3884	127	27	the	the	DET
fsr-3884	127	28	trust	trust	NOUN
fsr-3884	127	29	.	.	PUNCT
fsr-3884	128	1	the	the	DET
fsr-3884	128	2	wall	wall	PROPN
fsr-3884	128	3	street	street	PROPN
fsr-3884	128	4	journal	journal	PROPN
fsr-3884	128	5	indexis	indexis	PROPN
fsr-3884	128	6	used	use	VERB
fsr-3884	128	7	to	to	PART
fsr-3884	128	8	identify	identify	VERB
fsr-3884	128	9	earnings	earning	NOUN
fsr-3884	128	10	announcement	announcement	NOUN
fsr-3884	128	11	dates	date	VERB
fsr-3884	128	12	and	and	CCONJ
fsr-3884	128	13	to	to	PART
fsr-3884	128	14	check	check	VERB
fsr-3884	128	15	for	for	ADP
fsr-3884	128	16	potentially	potentially	ADV
fsr-3884	128	17	confounding	confound	VERB
fsr-3884	128	18	events	event	NOUN
fsr-3884	128	19	over	over	ADP
fsr-3884	128	20	a	a	DET
fsr-3884	128	21	two	two	NUM
fsr-3884	128	22	-	-	PUNCT
fsr-3884	128	23	day	day	NOUN
fsr-3884	128	24	announcement	announcement	NOUN
fsr-3884	128	25	period	period	NOUN
fsr-3884	128	26	.	.	PUNCT
fsr-3884	129	1	events	event	NOUN
fsr-3884	129	2	such	such	ADJ
fsr-3884	129	3	as	as	ADP
fsr-3884	129	4	dividend	dividend	NOUN
fsr-3884	129	5	declarations	declaration	NOUN
fsr-3884	129	6	,	,	PUNCT
fsr-3884	129	7	merger	merger	NOUN
fsr-3884	129	8	news	news	NOUN
fsr-3884	129	9	,	,	PUNCT
fsr-3884	129	10	and	and	CCONJ
fsr-3884	129	11	securities	security	NOUN
fsr-3884	129	12	offerings	offering	NOUN
fsr-3884	129	13	are	be	AUX
fsr-3884	129	14	considered	consider	VERB
fsr-3884	129	15	to	to	PART
fsr-3884	129	16	be	be	AUX
fsr-3884	129	17	potential	potential	ADJ
fsr-3884	129	18	contaminants	contaminant	NOUN
fsr-3884	129	19	,	,	PUNCT
fsr-3884	129	20	that	that	PRON
fsr-3884	129	21	result	result	VERB
fsr-3884	129	22	in	in	ADP
fsr-3884	129	23	the	the	DET
fsr-3884	129	24	deletion	deletion	NOUN
fsr-3884	129	25	of	of	ADP
fsr-3884	129	26	37	37	NUM
fsr-3884	129	27	observations	observation	NOUN
fsr-3884	129	28	.	.	PUNCT
fsr-3884	130	1	the	the	DET
fsr-3884	130	2	final	final	ADJ
fsr-3884	130	3	sample	sample	NOUN
fsr-3884	130	4	consists	consist	VERB
fsr-3884	130	5	of	of	ADP
fsr-3884	130	6	the	the	DET
fsr-3884	130	7	99	99	NUM
fsr-3884	130	8	surviving	survive	VERB
fsr-3884	130	9	data	datum	NOUN
fsr-3884	130	10	points	point	NOUN
fsr-3884	130	11	.	.	PUNCT
fsr-3884	131	1	panel	panel	NOUN
fsr-3884	131	2	a	a	DET
fsr-3884	131	3	of	of	ADP
fsr-3884	131	4	table	table	NOUN
fsr-3884	131	5	1	1	NUM
fsr-3884	131	6	shows	show	VERB
fsr-3884	131	7	the	the	DET
fsr-3884	131	8	time	time	NOUN
fsr-3884	131	9	distribution	distribution	NOUN
fsr-3884	131	10	of	of	ADP
fsr-3884	131	11	the	the	DET
fsr-3884	131	12	sample	sample	NOUN
fsr-3884	131	13	.	.	PUNCT
fsr-3884	132	1	most	most	ADJ
fsr-3884	132	2	observations	observation	NOUN
fsr-3884	132	3	are	be	AUX
fsr-3884	132	4	found	find	VERB
fsr-3884	132	5	after	after	ADP
fsr-3884	132	6	1989	1989	NUM
fsr-3884	132	7	,	,	PUNCT
fsr-3884	132	8	due	due	ADP
fsr-3884	132	9	to	to	ADP
fsr-3884	132	10	the	the	DET
fsr-3884	132	11	fact	fact	NOUN
fsr-3884	132	12	that	that	SCONJ
fsr-3884	132	13	several	several	ADJ
fsr-3884	132	14	firms	firm	NOUN
fsr-3884	132	15	’	'	PUNCT
fsr-3884	132	16	stocks	stock	NOUN
fsr-3884	132	17	did	do	AUX
fsr-3884	132	18	not	not	PART
fsr-3884	132	19	rise	rise	VERB
fsr-3884	132	20	above	above	ADP
fsr-3884	132	21	the	the	DET
fsr-3884	132	22	termination	termination	NOUN
fsr-3884	132	23	value	value	NOUN
fsr-3884	132	24	until	until	ADP
fsr-3884	132	25	late	late	ADV
fsr-3884	132	26	in	in	ADP
fsr-3884	132	27	the	the	DET
fsr-3884	132	28	sample	sample	NOUN
fsr-3884	132	29	period	period	NOUN
fsr-3884	132	30	.	.	PUNCT
fsr-3884	133	1	to	to	PART
fsr-3884	133	2	evaluate	evaluate	VERB
fsr-3884	133	3	the	the	DET
fsr-3884	133	4	market	market	NOUN
fsr-3884	133	5	’s	’s	PART
fsr-3884	133	6	response	response	NOUN
fsr-3884	133	7	to	to	ADP
fsr-3884	133	8	earnings	earning	NOUN
fsr-3884	133	9	surprises	surprise	NOUN
fsr-3884	133	10	,	,	PUNCT
fsr-3884	133	11	cumulative	cumulative	ADJ
fsr-3884	133	12	abnormal	abnormal	ADJ
fsr-3884	133	13	returns	return	NOUN
fsr-3884	133	14	(	(	PUNCT
fsr-3884	133	15	cars	car	NOUN
fsr-3884	133	16	)	)	PUNCT
fsr-3884	133	17	are	be	AUX
fsr-3884	133	18	examined	examine	VERB
fsr-3884	133	19	for	for	ADP
fsr-3884	133	20	the	the	DET
fsr-3884	133	21	underlying	underlie	VERB
fsr-3884	133	22	stock	stock	NOUN
fsr-3884	133	23	and	and	CCONJ
fsr-3884	133	24	its	its	PRON
fsr-3884	133	25	corresponding	corresponding	ADJ
fsr-3884	133	26	prime	prime	NOUN
fsr-3884	133	27	and	and	CCONJ
fsr-3884	133	28	score	score	NOUN
fsr-3884	133	29	from	from	ADP
fsr-3884	133	30	the	the	DET
fsr-3884	133	31	americus	americus	NOUN
fsr-3884	133	32	trusts	trust	NOUN
fsr-3884	133	33	.	.	PUNCT
fsr-3884	134	1	abnormal	abnormal	ADJ
fsr-3884	134	2	returns	return	NOUN
fsr-3884	134	3	are	be	AUX
fsr-3884	134	4	generated	generate	VERB
fsr-3884	134	5	as	as	ADP
fsr-3884	134	6	the	the	DET
fsr-3884	134	7	difference	difference	NOUN
fsr-3884	134	8	between	between	ADP
fsr-3884	134	9	a	a	DET
fsr-3884	134	10	security	security	NOUN
fsr-3884	134	11	’s	’s	PART
fsr-3884	134	12	actual	actual	ADJ
fsr-3884	134	13	daily	daily	ADJ
fsr-3884	134	14	return	return	NOUN
fsr-3884	134	15	and	and	CCONJ
fsr-3884	134	16	its	its	PRON
fsr-3884	134	17	expected	expect	VERB
fsr-3884	134	18	return	return	NOUN
fsr-3884	134	19	.	.	PUNCT
fsr-3884	135	1	the	the	DET
fsr-3884	135	2	expected	expect	VERB
fsr-3884	135	3	return	return	NOUN
fsr-3884	135	4	is	be	AUX
fsr-3884	135	5	the	the	DET
fsr-3884	135	6	return	return	NOUN
fsr-3884	135	7	for	for	ADP
fsr-3884	135	8	the	the	DET
fsr-3884	135	9	crsp	crsp	PROPN
fsr-3884	135	10	equally	equally	ADV
fsr-3884	135	11	weighted	weight	VERB
fsr-3884	135	12	index	index	NOUN
fsr-3884	135	13	.	.	PUNCT
fsr-3884	136	1	the	the	DET
fsr-3884	136	2	market	market	NOUN
fsr-3884	136	3	adjusted	adjust	VERB
fsr-3884	136	4	returns	return	NOUN
fsr-3884	136	5	methodology	methodology	NOUN
fsr-3884	136	6	is	be	AUX
fsr-3884	136	7	used	use	VERB
fsr-3884	136	8	in	in	ADP
fsr-3884	136	9	lieu	lieu	NOUN
fsr-3884	136	10	of	of	ADP
fsr-3884	136	11	the	the	DET
fsr-3884	136	12	market	market	NOUN
fsr-3884	136	13	model	model	NOUN
fsr-3884	136	14	approach	approach	NOUN
fsr-3884	136	15	,	,	PUNCT
fsr-3884	136	16	because	because	SCONJ
fsr-3884	136	17	option	option	NOUN
fsr-3884	136	18	betas	beta	NOUN
fsr-3884	136	19	can	can	AUX
fsr-3884	136	20	be	be	AUX
fsr-3884	136	21	quite	quite	ADV
fsr-3884	136	22	unstable	unstable	ADJ
fsr-3884	136	23	even	even	ADV
fsr-3884	136	24	when	when	SCONJ
fsr-3884	136	25	the	the	DET
fsr-3884	136	26	underlying	underlie	VERB
fsr-3884	136	27	stock	stock	NOUN
fsr-3884	136	28	’s	’s	PART
fsr-3884	136	29	beta	beta	NOUN
fsr-3884	136	30	is	be	AUX
fsr-3884	136	31	constant	constant	ADJ
fsr-3884	136	32	(	(	PUNCT
fsr-3884	136	33	see	see	VERB
fsr-3884	136	34	cox	cox	PROPN
fsr-3884	136	35	and	and	CCONJ
fsr-3884	136	36	rubinstein	rubinstein	PROPN
fsr-3884	136	37	,	,	PUNCT
fsr-3884	136	38	1988	1988	NUM
fsr-3884	136	39	,	,	PUNCT
fsr-3884	136	40	p.	p.	NOUN
fsr-3884	136	41	190	190	NUM
fsr-3884	136	42	)	)	PUNCT
fsr-3884	136	43	.	.	PUNCT
fsr-3884	137	1	day21	day21	PROPN
fsr-3884	137	2	is	be	AUX
fsr-3884	137	3	defined	define	VERB
fsr-3884	137	4	as	as	ADP
fsr-3884	137	5	the	the	DET
fsr-3884	137	6	public	public	ADJ
fsr-3884	137	7	earnings	earning	NOUN
fsr-3884	137	8	announcement	announcement	NOUN
fsr-3884	137	9	date	date	NOUN
fsr-3884	137	10	,	,	PUNCT
fsr-3884	137	11	with	with	ADP
fsr-3884	137	12	the	the	DET
fsr-3884	137	13	publication	publication	NOUN
fsr-3884	137	14	of	of	ADP
fsr-3884	137	15	the	the	DET
fsr-3884	137	16	news	news	NOUN
fsr-3884	137	17	inthe	inthe	DET
fsr-3884	137	18	wall	wall	PROPN
fsr-3884	137	19	street	street	PROPN
fsr-3884	137	20	journal	journal	PROPN
fsr-3884	137	21	taking	take	VERB
fsr-3884	137	22	place	place	NOUN
fsr-3884	137	23	on	on	ADP
fsr-3884	137	24	day	day	NOUN
fsr-3884	137	25	0	0	NUM
fsr-3884	137	26	in	in	ADP
fsr-3884	137	27	many	many	ADJ
fsr-3884	137	28	cases	case	NOUN
fsr-3884	137	29	.	.	PUNCT
fsr-3884	138	1	significant	significant	ADJ
fsr-3884	138	2	cars	car	NOUN
fsr-3884	138	3	would	would	AUX
fsr-3884	138	4	indicate	indicate	VERB
fsr-3884	138	5	whether	whether	SCONJ
fsr-3884	138	6	the	the	DET
fsr-3884	138	7	market	market	NOUN
fsr-3884	138	8	sees	see	VERB
fsr-3884	138	9	earnings	earning	NOUN
fsr-3884	138	10	surprises	surprise	NOUN
fsr-3884	138	11	as	as	ADP
fsr-3884	138	12	having	have	VERB
fsr-3884	138	13	long	long	ADJ
fsr-3884	138	14	-	-	PUNCT
fsr-3884	138	15	term	term	NOUN
fsr-3884	138	16	effects	effect	NOUN
fsr-3884	138	17	reflecting	reflect	VERB
fsr-3884	138	18	increased	increase	VERB
fsr-3884	138	19	expected	expect	VERB
fsr-3884	138	20	dividend	dividend	NOUN
fsr-3884	138	21	streams	stream	NOUN
fsr-3884	138	22	(	(	PUNCT
fsr-3884	138	23	significant	significant	ADJ
fsr-3884	138	24	cars	car	NOUN
fsr-3884	138	25	would	would	AUX
fsr-3884	138	26	be	be	AUX
fsr-3884	138	27	found	find	VERB
fsr-3884	138	28	for	for	ADP
fsr-3884	138	29	stocks	stock	NOUN
fsr-3884	138	30	and	and	CCONJ
fsr-3884	138	31	primes	prime	NOUN
fsr-3884	138	32	)	)	PUNCT
fsr-3884	138	33	,	,	PUNCT
fsr-3884	138	34	capital	capital	NOUN
fsr-3884	138	35	appreciation	appreciation	NOUN
fsr-3884	138	36	/	/	SYM
fsr-3884	138	37	depreciation	depreciation	NOUN
fsr-3884	138	38	effects	effect	NOUN
fsr-3884	138	39	(	(	PUNCT
fsr-3884	138	40	significant	significant	ADJ
fsr-3884	138	41	cars	car	NOUN
fsr-3884	138	42	for	for	ADP
fsr-3884	138	43	the	the	DET
fsr-3884	138	44	stocks	stock	NOUN
fsr-3884	138	45	and	and	CCONJ
fsr-3884	138	46	scores	score	NOUN
fsr-3884	138	47	only	only	ADV
fsr-3884	138	48	)	)	PUNCT
fsr-3884	138	49	,	,	PUNCT
fsr-3884	138	50	or	or	CCONJ
fsr-3884	138	51	implications	implication	NOUN
fsr-3884	138	52	for	for	ADP
fsr-3884	138	53	cash	cash	NOUN
fsr-3884	138	54	flows	flow	NOUN
fsr-3884	138	55	from	from	ADP
fsr-3884	138	56	dividends	dividend	NOUN
fsr-3884	138	57	as	as	ADV
fsr-3884	138	58	well	well	ADV
fsr-3884	138	59	as	as	ADP
fsr-3884	138	60	price	price	NOUN
fsr-3884	138	61	changes	change	NOUN
fsr-3884	138	62	(	(	PUNCT
fsr-3884	138	63	significant	significant	ADJ
fsr-3884	138	64	responses	response	NOUN
fsr-3884	138	65	in	in	ADP
fsr-3884	138	66	all	all	DET
fsr-3884	138	67	return	return	NOUN
fsr-3884	138	68	series	series	NOUN
fsr-3884	138	69	)	)	PUNCT
fsr-3884	138	70	.	.	PUNCT
fsr-3884	139	1	the	the	DET
fsr-3884	139	2	market	market	NOUN
fsr-3884	139	3	’s	’s	PART
fsr-3884	139	4	reaction	reaction	NOUN
fsr-3884	139	5	to	to	ADP
fsr-3884	139	6	an	an	DET
fsr-3884	139	7	event	event	NOUN
fsr-3884	139	8	is	be	AUX
fsr-3884	139	9	expected	expect	VERB
fsr-3884	139	10	to	to	PART
fsr-3884	139	11	reflect	reflect	VERB
fsr-3884	139	12	the	the	DET
fsr-3884	139	13	sign	sign	NOUN
fsr-3884	139	14	and	and	CCONJ
fsr-3884	139	15	magnitude	magnitude	NOUN
fsr-3884	139	16	of	of	ADP
fsr-3884	139	17	the	the	DET
fsr-3884	139	18	earnings	earning	NOUN
fsr-3884	139	19	surprise	surprise	NOUN
fsr-3884	139	20	.	.	PUNCT
fsr-3884	140	1	following	follow	VERB
fsr-3884	140	2	kane	kane	PROPN
fsr-3884	140	3	et	et	PROPN
fsr-3884	140	4	al	al	PROPN
fsr-3884	140	5	.	.	PROPN
fsr-3884	141	1	(	(	PUNCT
fsr-3884	141	2	1984	1984	NUM
fsr-3884	141	3	)	)	PUNCT
fsr-3884	141	4	,	,	PUNCT
fsr-3884	141	5	schachter	schachter	NOUN
fsr-3884	141	6	(	(	PUNCT
fsr-3884	141	7	1988	1988	NUM
fsr-3884	141	8	)	)	PUNCT
fsr-3884	141	9	,	,	PUNCT
fsr-3884	141	10	and	and	CCONJ
fsr-3884	141	11	easton	easton	PROPN
fsr-3884	141	12	and	and	CCONJ
fsr-3884	141	13	zmijewski	zmijewski	PROPN
fsr-3884	142	1	92	92	NUM
fsr-3884	142	2	j.a	j.a	PROPN
fsr-3884	142	3	.	.	PUNCT
fsr-3884	143	1	macdonald	macdonald	PROPN
fsr-3884	143	2	,	,	PUNCT
fsr-3884	143	3	d.m	d.m	PROPN
fsr-3884	143	4	.	.	PUNCT
fsr-3884	143	5	smith	smith	PROPN
fsr-3884	143	6	/	/	SYM
fsr-3884	143	7	financial	financial	ADJ
fsr-3884	143	8	services	service	NOUN
fsr-3884	143	9	review	review	VERB
fsr-3884	143	10	8	8	NUM
fsr-3884	143	11	(	(	PUNCT
fsr-3884	143	12	1999	1999	NUM
fsr-3884	143	13	)	)	PUNCT
fsr-3884	143	14	87–99	87–99	NUM
fsr-3884	143	15	(	(	PUNCT
fsr-3884	143	16	1989	1989	NUM
fsr-3884	143	17	)	)	PUNCT
fsr-3884	143	18	,	,	PUNCT
fsr-3884	143	19	percentage	percentage	NOUN
fsr-3884	143	20	earnings	earning	NOUN
fsr-3884	143	21	announcement	announcement	NOUN
fsr-3884	143	22	surprises	surprise	NOUN
fsr-3884	143	23	are	be	AUX
fsr-3884	143	24	estimated	estimate	VERB
fsr-3884	143	25	using	use	VERB
fsr-3884	143	26	the	the	DET
fsr-3884	143	27	methodology	methodology	NOUN
fsr-3884	143	28	of	of	ADP
fsr-3884	143	29	foster	foster	ADJ
fsr-3884	143	30	(	(	PUNCT
fsr-3884	143	31	1977	1977	NUM
fsr-3884	143	32	)	)	PUNCT
fsr-3884	143	33	.	.	PUNCT
fsr-3884	144	1	first	first	ADV
fsr-3884	144	2	,	,	PUNCT
fsr-3884	144	3	for	for	ADP
fsr-3884	144	4	each	each	DET
fsr-3884	144	5	firm	firm	PROPN
fsr-3884	144	6	j	j	PROPN
fsr-3884	144	7	,	,	PUNCT
fsr-3884	144	8	one	one	NUM
fsr-3884	144	9	year	year	NOUN
fsr-3884	144	10	changes	change	NOUN
fsr-3884	144	11	in	in	ADP
fsr-3884	144	12	earnings	earning	NOUN
fsr-3884	144	13	are	be	AUX
fsr-3884	144	14	regressed	regress	VERB
fsr-3884	144	15	on	on	ADP
fsr-3884	144	16	the	the	DET
fsr-3884	144	17	one	one	NUM
fsr-3884	144	18	quarter	quarter	NOUN
fsr-3884	144	19	lag	lag	NOUN
fsr-3884	144	20	of	of	ADP
fsr-3884	144	21	the	the	DET
fsr-3884	144	22	change	change	NOUN
fsr-3884	144	23	in	in	ADP
fsr-3884	144	24	one	one	NUM
fsr-3884	144	25	year	year	NOUN
fsr-3884	144	26	’s	’s	PART
fsr-3884	144	27	earnings	earning	NOUN
fsr-3884	144	28	,	,	PUNCT
fsr-3884	144	29	as	as	SCONJ
fsr-3884	144	30	noted	note	VERB
fsr-3884	144	31	in	in	ADP
fsr-3884	144	32	eq	eq	ADP
fsr-3884	144	33	.	.	PUNCT
fsr-3884	145	1	(	(	PUNCT
fsr-3884	145	2	2	2	NUM
fsr-3884	145	3	):	):	PUNCT
fsr-3884	145	4	[	[	X
fsr-3884	145	5	epsj	epsj	NOUN
fsr-3884	145	6	,	,	PUNCT
fsr-3884	145	7	t	t	PROPN
fsr-3884	145	8	2	2	NUM
fsr-3884	145	9	epsj	epsj	NOUN
fsr-3884	145	10	,	,	PUNCT
fsr-3884	145	11	t24	t24	NOUN
fsr-3884	145	12	]	]	PUNCT
fsr-3884	145	13	5	5	NUM
fsr-3884	145	14	aj	aj	PROPN
fsr-3884	145	15	1	1	NUM
fsr-3884	145	16	bj	bj	ADP
fsr-3884	145	17	[	[	X
fsr-3884	145	18	epsj	epsj	NOUN
fsr-3884	145	19	,	,	PUNCT
fsr-3884	145	20	t21	t21	NOUN
fsr-3884	145	21	2	2	NUM
fsr-3884	145	22	epsj	epsj	NOUN
fsr-3884	145	23	,	,	PUNCT
fsr-3884	145	24	t25	t25	NOUN
fsr-3884	145	25	]	]	PUNCT
fsr-3884	145	26	1	1	NUM
fsr-3884	145	27	ej	ej	PROPN
fsr-3884	145	28	,	,	PUNCT
fsr-3884	145	29	t	t	PROPN
fsr-3884	145	30	,	,	PUNCT
fsr-3884	145	31	(	(	PUNCT
fsr-3884	145	32	2	2	X
fsr-3884	145	33	)	)	PUNCT
fsr-3884	145	34	where	where	SCONJ
fsr-3884	145	35	epsj	epsj	NOUN
fsr-3884	145	36	,	,	PUNCT
fsr-3884	145	37	t	t	PROPN
fsr-3884	145	38	is	be	AUX
fsr-3884	145	39	the	the	DET
fsr-3884	145	40	earnings	earning	NOUN
fsr-3884	145	41	per	per	ADP
fsr-3884	145	42	share	share	NOUN
fsr-3884	145	43	before	before	ADP
fsr-3884	145	44	extraordinary	extraordinary	ADJ
fsr-3884	145	45	items	item	NOUN
fsr-3884	145	46	for	for	ADP
fsr-3884	145	47	firms	firm	NOUN
fsr-3884	145	48	in	in	ADP
fsr-3884	145	49	quarter	quarter	NOUN
fsr-3884	145	50	t	t	PROPN
fsr-3884	145	51	,	,	PUNCT
fsr-3884	145	52	and	and	CCONJ
fsr-3884	145	53	ej	ej	PROPN
fsr-3884	145	54	,	,	PUNCT
fsr-3884	145	55	t	t	PROPN
fsr-3884	145	56	is	be	AUX
fsr-3884	145	57	a	a	DET
fsr-3884	145	58	random	random	ADJ
fsr-3884	145	59	error	error	NOUN
fsr-3884	145	60	term	term	NOUN
fsr-3884	145	61	assumed	assume	VERB
fsr-3884	145	62	to	to	PART
fsr-3884	145	63	be	be	AUX
fsr-3884	145	64	normally	normally	ADV
fsr-3884	145	65	distributed	distribute	VERB
fsr-3884	145	66	.	.	PUNCT
fsr-3884	146	1	using	use	VERB
fsr-3884	146	2	the	the	DET
fsr-3884	146	3	parameters	parameter	NOUN
fsr-3884	146	4	estimated	estimate	VERB
fsr-3884	146	5	in	in	ADP
fsr-3884	146	6	eq	eq	PROPN
fsr-3884	146	7	.	.	PUNCT
fsr-3884	147	1	(	(	PUNCT
fsr-3884	147	2	2	2	NUM
fsr-3884	147	3	)	)	PUNCT
fsr-3884	147	4	,	,	PUNCT
fsr-3884	147	5	expected	expect	VERB
fsr-3884	147	6	earnings	earning	NOUN
fsr-3884	147	7	are	be	AUX
fsr-3884	147	8	computed	compute	VERB
fsr-3884	147	9	with	with	ADP
fsr-3884	147	10	eq	eq	NOUN
fsr-3884	147	11	.	.	PUNCT
fsr-3884	148	1	(	(	PUNCT
fsr-3884	148	2	3	3	NUM
fsr-3884	148	3	)	)	PUNCT
fsr-3884	148	4	,	,	PUNCT
fsr-3884	148	5	as	as	SCONJ
fsr-3884	148	6	follows	follow	VERB
fsr-3884	148	7	:	:	PUNCT
fsr-3884	149	1	[	[	X
fsr-3884	149	2	epsj	epsj	NOUN
fsr-3884	149	3	,	,	PUNCT
fsr-3884	149	4	t11	t11	NOUN
fsr-3884	149	5	2	2	NUM
fsr-3884	149	6	epsj	epsj	NOUN
fsr-3884	149	7	,	,	PUNCT
fsr-3884	149	8	t23	t23	NOUN
fsr-3884	149	9	]	]	PUNCT
fsr-3884	149	10	5	5	NUM
fsr-3884	149	11	aj	aj	PROPN
fsr-3884	149	12	1	1	NUM
fsr-3884	149	13	bj	bj	ADP
fsr-3884	149	14	[	[	X
fsr-3884	149	15	epsj	epsj	NOUN
fsr-3884	149	16	,	,	PUNCT
fsr-3884	149	17	t	t	PROPN
fsr-3884	149	18	2	2	NUM
fsr-3884	149	19	epsj	epsj	NOUN
fsr-3884	149	20	,	,	PUNCT
fsr-3884	149	21	t24	t24	NOUN
fsr-3884	149	22	]	]	PUNCT
fsr-3884	149	23	.	.	PUNCT
fsr-3884	150	1	(	(	PUNCT
fsr-3884	150	2	3	3	X
fsr-3884	150	3	)	)	PUNCT
fsr-3884	150	4	the	the	DET
fsr-3884	150	5	percentage	percentage	NOUN
fsr-3884	150	6	earnings	earning	NOUN
fsr-3884	150	7	surprise	surprise	NOUN
fsr-3884	150	8	is	be	AUX
fsr-3884	150	9	measured	measure	VERB
fsr-3884	150	10	as	as	ADP
fsr-3884	150	11	the	the	DET
fsr-3884	150	12	difference	difference	NOUN
fsr-3884	150	13	between	between	ADP
fsr-3884	150	14	the	the	DET
fsr-3884	150	15	actual	actual	ADJ
fsr-3884	150	16	earnings	earning	NOUN
fsr-3884	150	17	in	in	ADP
fsr-3884	150	18	any	any	DET
fsr-3884	150	19	period	period	NOUN
fsr-3884	150	20	and	and	CCONJ
fsr-3884	150	21	the	the	DET
fsr-3884	150	22	expected	expect	VERB
fsr-3884	150	23	earnings	earning	NOUN
fsr-3884	150	24	for	for	ADP
fsr-3884	150	25	that	that	DET
fsr-3884	150	26	period	period	NOUN
fsr-3884	150	27	divided	divide	VERB
fsr-3884	150	28	by	by	ADP
fsr-3884	150	29	the	the	DET
fsr-3884	150	30	absolute	absolute	ADJ
fsr-3884	150	31	value	value	NOUN
fsr-3884	150	32	of	of	ADP
fsr-3884	150	33	expected	expect	VERB
fsr-3884	150	34	earnings	earning	NOUN
fsr-3884	150	35	.	.	PUNCT
fsr-3884	151	1	table	table	NOUN
fsr-3884	151	2	1	1	NUM
fsr-3884	151	3	sample	sample	NOUN
fsr-3884	151	4	description	description	NOUN
fsr-3884	151	5	company	company	NOUN
fsr-3884	151	6	1986	1986	NUM
fsr-3884	151	7	1987	1987	NUM
fsr-3884	151	8	1988	1988	NUM
fsr-3884	151	9	1989	1989	NUM
fsr-3884	151	10	1990	1990	NUM
fsr-3884	151	11	1991	1991	NUM
fsr-3884	151	12	1992	1992	NUM
fsr-3884	151	13	total	total	ADJ
fsr-3884	151	14	panel	panel	NOUN
fsr-3884	151	15	a	a	DET
fsr-3884	151	16	:	:	PUNCT
fsr-3884	151	17	chronological	chronological	ADJ
fsr-3884	151	18	distribution	distribution	NOUN
fsr-3884	151	19	of	of	ADP
fsr-3884	151	20	earnings	earning	NOUN
fsr-3884	151	21	announcements	announcement	NOUN
fsr-3884	151	22	american	american	ADJ
fsr-3884	151	23	home	home	NOUN
fsr-3884	151	24	products	product	NOUN
fsr-3884	151	25	0	0	NUM
fsr-3884	151	26	0	0	NUM
fsr-3884	151	27	0	0	NUM
fsr-3884	151	28	2	2	NUM
fsr-3884	151	29	4	4	NUM
fsr-3884	151	30	0	0	NUM
fsr-3884	151	31	0	0	NUM
fsr-3884	151	32	6	6	NUM
fsr-3884	151	33	amoco	amoco	NOUN
fsr-3884	151	34	0	0	NUM
fsr-3884	151	35	0	0	NUM
fsr-3884	151	36	0	0	NUM
fsr-3884	151	37	0	0	NUM
fsr-3884	151	38	2	2	NUM
fsr-3884	151	39	0	0	NUM
fsr-3884	151	40	0	0	NUM
fsr-3884	151	41	2	2	NUM
fsr-3884	151	42	bristol	bristol	PROPN
fsr-3884	151	43	myers	myers	PROPN
fsr-3884	151	44	squibb	squibb	PROPN
fsr-3884	151	45	0	0	NUM
fsr-3884	151	46	0	0	NUM
fsr-3884	151	47	0	0	NUM
fsr-3884	151	48	0	0	NUM
fsr-3884	151	49	2	2	NUM
fsr-3884	151	50	1	1	NUM
fsr-3884	151	51	0	0	NUM
fsr-3884	151	52	3	3	NUM
fsr-3884	151	53	chevron	chevron	NOUN
fsr-3884	151	54	0	0	NUM
fsr-3884	151	55	0	0	NUM
fsr-3884	151	56	0	0	NUM
fsr-3884	151	57	0	0	NUM
fsr-3884	151	58	1	1	NUM
fsr-3884	151	59	0	0	NUM
fsr-3884	151	60	0	0	NUM
fsr-3884	151	61	1	1	NUM
fsr-3884	151	62	coca	coca	NOUN
fsr-3884	151	63	cola	cola	NOUN
fsr-3884	151	64	0	0	NUM
fsr-3884	151	65	0	0	NUM
fsr-3884	151	66	0	0	NUM
fsr-3884	151	67	2	2	NUM
fsr-3884	151	68	4	4	NUM
fsr-3884	151	69	0	0	NUM
fsr-3884	151	70	1	1	NUM
fsr-3884	151	71	7	7	NUM
fsr-3884	151	72	dow	dow	NOUN
fsr-3884	151	73	chemical	chemical	NOUN
fsr-3884	151	74	0	0	NUM
fsr-3884	151	75	0	0	NUM
fsr-3884	151	76	4	4	NUM
fsr-3884	151	77	4	4	NUM
fsr-3884	151	78	0	0	NUM
fsr-3884	151	79	0	0	NUM
fsr-3884	151	80	0	0	NUM
fsr-3884	151	81	8	8	NUM
fsr-3884	151	82	dupont	dupont	NOUN
fsr-3884	151	83	0	0	NUM
fsr-3884	151	84	0	0	NUM
fsr-3884	151	85	0	0	NUM
fsr-3884	151	86	0	0	NUM
fsr-3884	151	87	0	0	NUM
fsr-3884	151	88	2	2	NUM
fsr-3884	151	89	0	0	NUM
fsr-3884	151	90	2	2	NUM
fsr-3884	151	91	exxon	exxon	NOUN
fsr-3884	151	92	1	1	NUM
fsr-3884	151	93	4	4	NUM
fsr-3884	151	94	4	4	NUM
fsr-3884	151	95	4	4	NUM
fsr-3884	151	96	3	3	NUM
fsr-3884	151	97	0	0	NUM
fsr-3884	151	98	0	0	NUM
fsr-3884	151	99	16	16	NUM
fsr-3884	151	100	ford	ford	PROPN
fsr-3884	151	101	motor	motor	PROPN
fsr-3884	151	102	co.	co.	PROPN
fsr-3884	151	103	0	0	NUM
fsr-3884	151	104	0	0	NUM
fsr-3884	151	105	1	1	NUM
fsr-3884	151	106	1	1	NUM
fsr-3884	151	107	0	0	NUM
fsr-3884	151	108	0	0	NUM
fsr-3884	151	109	0	0	NUM
fsr-3884	151	110	2	2	NUM
fsr-3884	151	111	general	general	NOUN
fsr-3884	151	112	electric	electric	NOUN
fsr-3884	151	113	0	0	PROPN
fsr-3884	151	114	0	0	NUM
fsr-3884	151	115	0	0	NUM
fsr-3884	151	116	0	0	NUM
fsr-3884	151	117	1	1	NUM
fsr-3884	151	118	0	0	NUM
fsr-3884	151	119	0	0	NUM
fsr-3884	151	120	1	1	NUM
fsr-3884	151	121	gte	gte	NOUN
fsr-3884	151	122	0	0	NUM
fsr-3884	151	123	0	0	SYM
fsr-3884	151	124	0	0	NUM
fsr-3884	151	125	4	4	NUM
fsr-3884	151	126	4	4	NUM
fsr-3884	151	127	0	0	NUM
fsr-3884	151	128	0	0	NUM
fsr-3884	151	129	8	8	NUM
fsr-3884	151	130	johnson	johnson	PROPN
fsr-3884	151	131	&	&	CCONJ
fsr-3884	151	132	johnson	johnson	PROPN
fsr-3884	151	133	0	0	PROPN
fsr-3884	151	134	0	0	NUM
fsr-3884	151	135	0	0	NUM
fsr-3884	151	136	0	0	NUM
fsr-3884	151	137	2	2	NUM
fsr-3884	151	138	1	1	NUM
fsr-3884	151	139	1	1	NUM
fsr-3884	151	140	4	4	NUM
fsr-3884	151	141	mobil	mobil	NOUN
fsr-3884	151	142	0	0	NUM
fsr-3884	151	143	0	0	NUM
fsr-3884	151	144	0	0	NUM
fsr-3884	151	145	0	0	NUM
fsr-3884	151	146	2	2	NUM
fsr-3884	151	147	1	1	NUM
fsr-3884	151	148	1	1	NUM
fsr-3884	151	149	4	4	NUM
fsr-3884	151	150	merck	merck	NOUN
fsr-3884	151	151	0	0	NUM
fsr-3884	151	152	0	0	NUM
fsr-3884	151	153	0	0	NUM
fsr-3884	151	154	3	3	NUM
fsr-3884	151	155	4	4	NUM
fsr-3884	151	156	3	3	NUM
fsr-3884	151	157	0	0	NUM
fsr-3884	151	158	10	10	NUM
fsr-3884	151	159	philip	philip	PROPN
fsr-3884	151	160	morris	morris	PROPN
fsr-3884	151	161	0	0	NUM
fsr-3884	151	162	0	0	NUM
fsr-3884	151	163	0	0	NUM
fsr-3884	151	164	3	3	NUM
fsr-3884	151	165	4	4	NUM
fsr-3884	151	166	3	3	NUM
fsr-3884	151	167	3	3	NUM
fsr-3884	151	168	13	13	NUM
fsr-3884	151	169	procter	procter	NOUN
fsr-3884	151	170	&	&	CCONJ
fsr-3884	151	171	gamble	gamble	VERB
fsr-3884	151	172	0	0	NUM
fsr-3884	151	173	0	0	NUM
fsr-3884	151	174	0	0	NUM
fsr-3884	151	175	2	2	NUM
fsr-3884	151	176	4	4	NUM
fsr-3884	151	177	4	4	NUM
fsr-3884	151	178	1	1	NUM
fsr-3884	151	179	11	11	NUM
fsr-3884	151	180	union	union	NOUN
fsr-3884	151	181	pacific	pacific	NOUN
fsr-3884	151	182	0	0	NUM
fsr-3884	151	183	0	0	NUM
fsr-3884	151	184	0	0	NUM
fsr-3884	151	185	0	0	NUM
fsr-3884	151	186	0	0	NUM
fsr-3884	151	187	0	0	NUM
fsr-3884	151	188	1	1	NUM
fsr-3884	151	189	1	1	NUM
fsr-3884	151	190	total	total	NOUN
fsr-3884	151	191	1	1	NUM
fsr-3884	151	192	4	4	NUM
fsr-3884	151	193	9	9	NUM
fsr-3884	151	194	25	25	NUM
fsr-3884	151	195	37	37	NUM
fsr-3884	151	196	15	15	NUM
fsr-3884	151	197	8	8	NUM
fsr-3884	151	198	99	99	NUM
fsr-3884	151	199	variablea	variablea	ADV
fsr-3884	151	200	mean	mean	NOUN
fsr-3884	151	201	median	median	PROPN
fsr-3884	151	202	sd	sd	PROPN
fsr-3884	151	203	panel	panel	NOUN
fsr-3884	151	204	b	b	NOUN
fsr-3884	151	205	:	:	PUNCT
fsr-3884	151	206	other	other	ADJ
fsr-3884	151	207	sample	sample	NOUN
fsr-3884	151	208	characteristics	characteristic	NOUN
fsr-3884	151	209	time	time	NOUN
fsr-3884	151	210	to	to	ADP
fsr-3884	151	211	expiration	expiration	NOUN
fsr-3884	151	212	(	(	PUNCT
fsr-3884	151	213	years	year	NOUN
fsr-3884	151	214	)	)	PUNCT
fsr-3884	151	215	1.93	1.93	NUM
fsr-3884	151	216	years	year	NOUN
fsr-3884	151	217	1.93	1.93	NUM
fsr-3884	151	218	years	year	NOUN
fsr-3884	151	219	1.04	1.04	NUM
fsr-3884	151	220	years	year	NOUN
fsr-3884	151	221	moneyness	moneyness	NOUN
fsr-3884	151	222	40.53	40.53	NUM
fsr-3884	151	223	%	%	NOUN
fsr-3884	151	224	29.66	29.66	NUM
fsr-3884	151	225	%	%	NOUN
fsr-3884	151	226	41.37	41.37	NUM
fsr-3884	151	227	%	%	NOUN
fsr-3884	151	228	earnings	earning	NOUN
fsr-3884	151	229	surprise	surprise	NOUN
fsr-3884	151	230	foster	foster	ADJ
fsr-3884	151	231	model	model	NOUN
fsr-3884	151	232	10.09	10.09	NUM
fsr-3884	151	233	%	%	NOUN
fsr-3884	151	234	5.50	5.50	NUM
fsr-3884	151	235	%	%	NOUN
fsr-3884	151	236	35.16	35.16	NUM
fsr-3884	151	237	%	%	NOUN
fsr-3884	151	238	naive	naive	ADJ
fsr-3884	151	239	model	model	NOUN
fsr-3884	151	240	13.73	13.73	NUM
fsr-3884	151	241	%	%	NOUN
fsr-3884	151	242	16.48	16.48	NUM
fsr-3884	151	243	%	%	NOUN
fsr-3884	151	244	39.80	39.80	NUM
fsr-3884	151	245	%	%	NOUN
fsr-3884	151	246	long	long	ADJ
fsr-3884	151	247	-	-	PUNCT
fsr-3884	151	248	term	term	NOUN
fsr-3884	151	249	dividend	dividend	NOUN
fsr-3884	151	250	payout	payout	NOUN
fsr-3884	151	251	ratio	ratio	NOUN
fsr-3884	151	252	56.17	56.17	NUM
fsr-3884	151	253	%	%	NOUN
fsr-3884	151	254	54.53	54.53	NUM
fsr-3884	151	255	%	%	NOUN
fsr-3884	151	256	3.61	3.61	NUM
fsr-3884	151	257	%	%	NOUN
fsr-3884	151	258	a	a	DET
fsr-3884	151	259	moneyness	moneyness	NOUN
fsr-3884	151	260	is	be	AUX
fsr-3884	151	261	the	the	DET
fsr-3884	151	262	percentage	percentage	NOUN
fsr-3884	151	263	premium	premium	NOUN
fsr-3884	151	264	over	over	ADP
fsr-3884	151	265	termination	termination	NOUN
fsr-3884	151	266	value	value	NOUN
fsr-3884	151	267	.	.	PUNCT
fsr-3884	152	1	the	the	DET
fsr-3884	152	2	earnings	earning	NOUN
fsr-3884	152	3	surprises	surprise	NOUN
fsr-3884	152	4	are	be	AUX
fsr-3884	152	5	the	the	DET
fsr-3884	152	6	percentage	percentage	NOUN
fsr-3884	152	7	deviation	deviation	NOUN
fsr-3884	152	8	from	from	ADP
fsr-3884	152	9	expected	expect	VERB
fsr-3884	152	10	earnings	earning	NOUN
fsr-3884	152	11	using	use	VERB
fsr-3884	152	12	foster	foster	NOUN
fsr-3884	152	13	’s	’s	PART
fsr-3884	152	14	model	model	NOUN
fsr-3884	152	15	and	and	CCONJ
fsr-3884	152	16	a	a	DET
fsr-3884	152	17	naive	naive	ADJ
fsr-3884	152	18	model	model	NOUN
fsr-3884	152	19	.	.	PUNCT
fsr-3884	153	1	the	the	DET
fsr-3884	153	2	long	long	ADJ
fsr-3884	153	3	-	-	PUNCT
fsr-3884	153	4	term	term	NOUN
fsr-3884	153	5	dividend	dividend	NOUN
fsr-3884	153	6	payout	payout	NOUN
fsr-3884	153	7	ratio	ratio	NOUN
fsr-3884	153	8	is	be	AUX
fsr-3884	153	9	computed	compute	VERB
fsr-3884	153	10	as	as	ADP
fsr-3884	153	11	the	the	DET
fsr-3884	153	12	average	average	NOUN
fsr-3884	153	13	(	(	PUNCT
fsr-3884	153	14	from	from	ADP
fsr-3884	153	15	1983	1983	NUM
fsr-3884	153	16	through	through	ADP
fsr-3884	153	17	the	the	DET
fsr-3884	153	18	date	date	NOUN
fsr-3884	153	19	of	of	ADP
fsr-3884	153	20	each	each	DET
fsr-3884	153	21	earnings	earning	NOUN
fsr-3884	153	22	surprise	surprise	NOUN
fsr-3884	153	23	)	)	PUNCT
fsr-3884	153	24	of	of	ADP
fsr-3884	153	25	the	the	DET
fsr-3884	153	26	firm	firm	NOUN
fsr-3884	153	27	’s	’s	PART
fsr-3884	153	28	quarterly	quarterly	ADJ
fsr-3884	153	29	dividend	dividend	NOUN
fsr-3884	153	30	divided	divide	VERB
fsr-3884	153	31	by	by	ADP
fsr-3884	153	32	the	the	DET
fsr-3884	153	33	prior	prior	ADJ
fsr-3884	153	34	quarter	quarter	NOUN
fsr-3884	153	35	’s	’s	PART
fsr-3884	153	36	earnings	earning	NOUN
fsr-3884	153	37	before	before	ADP
fsr-3884	153	38	extraordinary	extraordinary	ADJ
fsr-3884	153	39	items	item	NOUN
fsr-3884	153	40	.	.	PUNCT
fsr-3884	154	1	93j.a	93j.a	NUM
fsr-3884	154	2	.	.	PUNCT
fsr-3884	155	1	macdonald	macdonald	PROPN
fsr-3884	155	2	,	,	PUNCT
fsr-3884	155	3	d.m	d.m	PROPN
fsr-3884	155	4	.	.	PUNCT
fsr-3884	155	5	smith	smith	PROPN
fsr-3884	155	6	/	/	SYM
fsr-3884	155	7	financial	financial	ADJ
fsr-3884	155	8	services	service	NOUN
fsr-3884	155	9	review	review	VERB
fsr-3884	155	10	8	8	NUM
fsr-3884	155	11	(	(	PUNCT
fsr-3884	155	12	1999	1999	NUM
fsr-3884	155	13	)	)	PUNCT
fsr-3884	155	14	87–99	87–99	NUM
fsr-3884	155	15	for	for	ADP
fsr-3884	155	16	comparison	comparison	NOUN
fsr-3884	155	17	purposes	purpose	NOUN
fsr-3884	155	18	,	,	PUNCT
fsr-3884	155	19	and	and	CCONJ
fsr-3884	155	20	following	follow	VERB
fsr-3884	155	21	aharony	aharony	NOUN
fsr-3884	155	22	and	and	CCONJ
fsr-3884	155	23	swary	swary	ADJ
fsr-3884	155	24	(	(	PUNCT
fsr-3884	155	25	1980	1980	NUM
fsr-3884	155	26	)	)	PUNCT
fsr-3884	155	27	and	and	CCONJ
fsr-3884	155	28	damodaran	damodaran	VERB
fsr-3884	155	29	(	(	PUNCT
fsr-3884	155	30	1989	1989	NUM
fsr-3884	155	31	)	)	PUNCT
fsr-3884	155	32	,	,	PUNCT
fsr-3884	155	33	a	a	DET
fsr-3884	155	34	naive	naive	ADJ
fsr-3884	155	35	earnings	earning	NOUN
fsr-3884	155	36	estimation	estimation	NOUN
fsr-3884	155	37	model	model	NOUN
fsr-3884	155	38	also	also	ADV
fsr-3884	155	39	is	be	AUX
fsr-3884	155	40	used	use	VERB
fsr-3884	155	41	.	.	PUNCT
fsr-3884	156	1	canina	canina	PROPN
fsr-3884	156	2	(	(	PUNCT
fsr-3884	156	3	1999	1999	NUM
fsr-3884	156	4	)	)	PUNCT
fsr-3884	156	5	also	also	ADV
fsr-3884	156	6	relied	rely	VERB
fsr-3884	156	7	on	on	ADP
fsr-3884	156	8	a	a	DET
fsr-3884	156	9	naı¨ve	naı¨ve	NOUN
fsr-3884	156	10	expectations	expectation	NOUN
fsr-3884	156	11	model	model	NOUN
fsr-3884	156	12	for	for	ADP
fsr-3884	156	13	dividends	dividend	NOUN
fsr-3884	156	14	.	.	PUNCT
fsr-3884	157	1	her	her	PRON
fsr-3884	157	2	findings	finding	NOUN
fsr-3884	157	3	are	be	AUX
fsr-3884	157	4	congruent	congruent	ADJ
fsr-3884	157	5	with	with	ADP
fsr-3884	157	6	our	our	PRON
fsr-3884	157	7	own	own	ADJ
fsr-3884	157	8	.	.	PUNCT
fsr-3884	158	1	expected	expect	VERB
fsr-3884	158	2	earnings	earning	NOUN
fsr-3884	158	3	are	be	AUX
fsr-3884	158	4	thus	thus	ADV
fsr-3884	158	5	defined	define	VERB
fsr-3884	158	6	as	as	ADP
fsr-3884	158	7	the	the	DET
fsr-3884	158	8	earnings	earning	NOUN
fsr-3884	158	9	from	from	ADP
fsr-3884	158	10	the	the	DET
fsr-3884	158	11	corresponding	correspond	VERB
fsr-3884	158	12	quarter	quarter	NOUN
fsr-3884	158	13	in	in	ADP
fsr-3884	158	14	the	the	DET
fsr-3884	158	15	fiscal	fiscal	ADJ
fsr-3884	158	16	year	year	NOUN
fsr-3884	158	17	:	:	PUNCT
fsr-3884	158	18	e(epsj	e(epsj	NOUN
fsr-3884	158	19	,	,	PUNCT
fsr-3884	158	20	t	t	PROPN
fsr-3884	158	21	)	)	PUNCT
fsr-3884	158	22	5	5	NUM
fsr-3884	158	23	epsj	epsj	NOUN
fsr-3884	158	24	,	,	PUNCT
fsr-3884	158	25	t24	t24	NOUN
fsr-3884	158	26	,	,	PUNCT
fsr-3884	158	27	(	(	PUNCT
fsr-3884	158	28	4	4	NUM
fsr-3884	158	29	)	)	PUNCT
fsr-3884	158	30	and	and	CCONJ
fsr-3884	158	31	surprises	surprise	NOUN
fsr-3884	158	32	are	be	AUX
fsr-3884	158	33	computed	compute	VERB
fsr-3884	158	34	as	as	ADP
fsr-3884	158	35	for	for	ADP
fsr-3884	158	36	the	the	DET
fsr-3884	158	37	foster	foster	ADJ
fsr-3884	158	38	model	model	NOUN
fsr-3884	158	39	.	.	PUNCT
fsr-3884	159	1	panel	panel	NOUN
fsr-3884	159	2	b	b	PROPN
fsr-3884	159	3	of	of	ADP
fsr-3884	159	4	table	table	NOUN
fsr-3884	159	5	1	1	NUM
fsr-3884	159	6	provides	provide	VERB
fsr-3884	159	7	summary	summary	NOUN
fsr-3884	159	8	statistics	statistic	NOUN
fsr-3884	159	9	for	for	ADP
fsr-3884	159	10	the	the	DET
fsr-3884	159	11	data	datum	NOUN
fsr-3884	159	12	set	set	VERB
fsr-3884	159	13	,	,	PUNCT
fsr-3884	159	14	including	include	VERB
fsr-3884	159	15	information	information	NOUN
fsr-3884	159	16	about	about	ADP
fsr-3884	159	17	time	time	NOUN
fsr-3884	159	18	to	to	ADP
fsr-3884	159	19	expiration	expiration	NOUN
fsr-3884	159	20	of	of	ADP
fsr-3884	159	21	the	the	DET
fsr-3884	159	22	trusts	trust	NOUN
fsr-3884	159	23	,	,	PUNCT
fsr-3884	159	24	moneyness	moneyness	NOUN
fsr-3884	159	25	of	of	ADP
fsr-3884	159	26	the	the	DET
fsr-3884	159	27	scores	score	NOUN
fsr-3884	159	28	,	,	PUNCT
fsr-3884	159	29	the	the	DET
fsr-3884	159	30	size	size	NOUN
fsr-3884	159	31	of	of	ADP
fsr-3884	159	32	the	the	DET
fsr-3884	159	33	earnings	earning	NOUN
fsr-3884	159	34	surprises	surprise	NOUN
fsr-3884	159	35	,	,	PUNCT
fsr-3884	159	36	and	and	CCONJ
fsr-3884	159	37	dividend	dividend	NOUN
fsr-3884	159	38	payout	payout	NOUN
fsr-3884	159	39	ratios	ratio	NOUN
fsr-3884	159	40	for	for	ADP
fsr-3884	159	41	each	each	DET
fsr-3884	159	42	firm	firm	NOUN
fsr-3884	159	43	.	.	PUNCT
fsr-3884	160	1	many	many	ADJ
fsr-3884	160	2	of	of	ADP
fsr-3884	160	3	the	the	DET
fsr-3884	160	4	scores	score	NOUN
fsr-3884	160	5	are	be	AUX
fsr-3884	160	6	far	far	ADV
fsr-3884	160	7	in	in	ADP
fsr-3884	160	8	the	the	DET
fsr-3884	160	9	money	money	NOUN
fsr-3884	160	10	,	,	PUNCT
fsr-3884	160	11	with	with	ADP
fsr-3884	160	12	the	the	DET
fsr-3884	160	13	median	median	ADJ
fsr-3884	160	14	stock	stock	NOUN
fsr-3884	160	15	price	price	NOUN
fsr-3884	160	16	exceeding	exceed	VERB
fsr-3884	160	17	the	the	DET
fsr-3884	160	18	termination	termination	NOUN
fsr-3884	160	19	value	value	NOUN
fsr-3884	160	20	by	by	ADP
fsr-3884	160	21	almost	almost	ADV
fsr-3884	160	22	30	30	NUM
fsr-3884	160	23	%	%	NOUN
fsr-3884	160	24	.	.	PUNCT
fsr-3884	161	1	the	the	DET
fsr-3884	161	2	mean	mean	ADJ
fsr-3884	161	3	time	time	NOUN
fsr-3884	161	4	to	to	ADP
fsr-3884	161	5	expiration	expiration	NOUN
fsr-3884	161	6	is	be	AUX
fsr-3884	161	7	about	about	ADV
fsr-3884	161	8	two	two	NUM
fsr-3884	161	9	years	year	NOUN
fsr-3884	161	10	,	,	PUNCT
fsr-3884	161	11	so	so	SCONJ
fsr-3884	161	12	each	each	DET
fsr-3884	161	13	trust	trust	NOUN
fsr-3884	161	14	has	have	VERB
fsr-3884	161	15	about	about	ADV
fsr-3884	161	16	eight	eight	NUM
fsr-3884	161	17	dividend	dividend	NOUN
fsr-3884	161	18	payments	payment	NOUN
fsr-3884	161	19	remaining	remain	VERB
fsr-3884	161	20	.	.	PUNCT
fsr-3884	162	1	other	other	ADJ
fsr-3884	162	2	issues	issue	NOUN
fsr-3884	162	3	remain	remain	VERB
fsr-3884	162	4	.	.	PUNCT
fsr-3884	163	1	the	the	DET
fsr-3884	163	2	fact	fact	NOUN
fsr-3884	163	3	that	that	SCONJ
fsr-3884	163	4	the	the	DET
fsr-3884	163	5	score	score	NOUN
fsr-3884	163	6	holders	holder	NOUN
fsr-3884	163	7	realize	realize	VERB
fsr-3884	163	8	the	the	DET
fsr-3884	163	9	greatest	great	ADJ
fsr-3884	163	10	price	price	NOUN
fsr-3884	163	11	impact	impact	NOUN
fsr-3884	163	12	reflects	reflect	VERB
fsr-3884	163	13	the	the	DET
fsr-3884	163	14	high	high	ADJ
fsr-3884	163	15	elasticity	elasticity	NOUN
fsr-3884	163	16	of	of	ADP
fsr-3884	163	17	this	this	DET
fsr-3884	163	18	option	option	NOUN
fsr-3884	163	19	-	-	PUNCT
fsr-3884	163	20	like	like	ADJ
fsr-3884	163	21	security	security	NOUN
fsr-3884	163	22	;	;	PUNCT
fsr-3884	163	23	however	however	ADV
fsr-3884	163	24	,	,	PUNCT
fsr-3884	163	25	the	the	DET
fsr-3884	163	26	low	low	ADJ
fsr-3884	163	27	price	price	NOUN
fsr-3884	163	28	of	of	ADP
fsr-3884	163	29	most	most	ADJ
fsr-3884	163	30	scores	score	NOUN
fsr-3884	163	31	relative	relative	ADJ
fsr-3884	163	32	to	to	ADP
fsr-3884	163	33	the	the	DET
fsr-3884	163	34	termination	termination	NOUN
fsr-3884	163	35	value	value	NOUN
fsr-3884	163	36	makes	make	VERB
fsr-3884	163	37	thedollar	thedollar	ADJ
fsr-3884	163	38	return	return	NOUN
fsr-3884	163	39	impact	impact	NOUN
fsr-3884	163	40	much	much	ADV
fsr-3884	163	41	smaller	small	ADJ
fsr-3884	163	42	than	than	SCONJ
fsr-3884	163	43	the	the	DET
fsr-3884	163	44	percentage	percentage	NOUN
fsr-3884	163	45	return	return	NOUN
fsr-3884	163	46	would	would	AUX
fsr-3884	163	47	suggest	suggest	VERB
fsr-3884	163	48	.	.	PUNCT
fsr-3884	164	1	for	for	ADP
fsr-3884	164	2	example	example	NOUN
fsr-3884	164	3	,	,	PUNCT
fsr-3884	164	4	on	on	ADP
fsr-3884	164	5	october	october	PROPN
fsr-3884	164	6	12	12	NUM
fsr-3884	164	7	,	,	PUNCT
fsr-3884	164	8	1989	1989	NUM
fsr-3884	164	9	,	,	PUNCT
fsr-3884	164	10	the	the	DET
fsr-3884	164	11	closing	closing	NOUN
fsr-3884	164	12	market	market	NOUN
fsr-3884	164	13	prices	price	NOUN
fsr-3884	164	14	for	for	ADP
fsr-3884	164	15	primes	prime	NOUN
fsr-3884	164	16	and	and	CCONJ
fsr-3884	164	17	scores	score	NOUN
fsr-3884	164	18	of	of	ADP
fsr-3884	164	19	coca	coca	PROPN
fsr-3884	164	20	cola	cola	PROPN
fsr-3884	164	21	corp	corp	PROPN
fsr-3884	164	22	.	.	PROPN
fsr-3884	164	23	were	be	AUX
fsr-3884	164	24	$	$	SYM
fsr-3884	164	25	44.70	44.70	NUM
fsr-3884	164	26	and	and	CCONJ
fsr-3884	164	27	$	$	SYM
fsr-3884	164	28	25.10	25.10	NUM
fsr-3884	164	29	,	,	PUNCT
fsr-3884	164	30	respectively	respectively	ADV
fsr-3884	164	31	.	.	PUNCT
fsr-3884	165	1	the	the	DET
fsr-3884	165	2	next	next	ADJ
fsr-3884	165	3	day	day	NOUN
fsr-3884	165	4	,	,	PUNCT
fsr-3884	165	5	the	the	DET
fsr-3884	165	6	firm	firm	NOUN
fsr-3884	165	7	announced	announce	VERB
fsr-3884	165	8	a	a	DET
fsr-3884	165	9	positive	positive	ADJ
fsr-3884	165	10	earnings	earning	NOUN
fsr-3884	165	11	surprise	surprise	NOUN
fsr-3884	165	12	of	of	ADP
fsr-3884	165	13	11.0	11.0	NUM
fsr-3884	165	14	%	%	NOUN
fsr-3884	165	15	relative	relative	ADJ
fsr-3884	165	16	to	to	ADP
fsr-3884	165	17	the	the	DET
fsr-3884	165	18	expectation	expectation	NOUN
fsr-3884	165	19	generated	generate	VERB
fsr-3884	165	20	by	by	ADP
fsr-3884	165	21	foster	foster	PROPN
fsr-3884	165	22	’s	’s	PART
fsr-3884	165	23	model	model	NOUN
fsr-3884	165	24	and	and	CCONJ
fsr-3884	165	25	25.9	25.9	NUM
fsr-3884	165	26	%	%	NOUN
fsr-3884	165	27	based	base	VERB
fsr-3884	165	28	on	on	ADP
fsr-3884	165	29	a	a	DET
fsr-3884	165	30	naive	naive	ADJ
fsr-3884	165	31	model	model	NOUN
fsr-3884	165	32	.	.	PUNCT
fsr-3884	166	1	after	after	ADP
fsr-3884	166	2	adjustment	adjustment	NOUN
fsr-3884	166	3	for	for	ADP
fsr-3884	166	4	market	market	NOUN
fsr-3884	166	5	factors	factor	NOUN
fsr-3884	166	6	,	,	PUNCT
fsr-3884	166	7	the	the	DET
fsr-3884	166	8	prime	prime	NOUN
fsr-3884	166	9	’s	’s	PART
fsr-3884	166	10	abnormal	abnormal	ADJ
fsr-3884	166	11	return	return	NOUN
fsr-3884	166	12	in	in	ADP
fsr-3884	166	13	the	the	DET
fsr-3884	166	14	two	two	NUM
fsr-3884	166	15	days	day	NOUN
fsr-3884	166	16	in	in	ADP
fsr-3884	166	17	the	the	DET
fsr-3884	166	18	earnings	earning	NOUN
fsr-3884	166	19	announcement	announcement	NOUN
fsr-3884	166	20	period	period	NOUN
fsr-3884	166	21	is	be	AUX
fsr-3884	166	22	3.5	3.5	NUM
fsr-3884	166	23	%	%	NOUN
fsr-3884	166	24	and	and	CCONJ
fsr-3884	166	25	the	the	DET
fsr-3884	166	26	score	score	NOUN
fsr-3884	166	27	’s	’s	PART
fsr-3884	166	28	abnormal	abnormal	ADJ
fsr-3884	166	29	return	return	NOUN
fsr-3884	166	30	is	be	AUX
fsr-3884	166	31	21.3	21.3	NUM
fsr-3884	166	32	%	%	NOUN
fsr-3884	166	33	.	.	PUNCT
fsr-3884	167	1	dollar	dollar	NOUN
fsr-3884	167	2	returns	return	NOUN
fsr-3884	167	3	to	to	ADP
fsr-3884	167	4	coca	coca	PROPN
fsr-3884	167	5	cola	cola	PROPN
fsr-3884	167	6	investors	investor	NOUN
fsr-3884	167	7	,	,	PUNCT
fsr-3884	167	8	however	however	ADV
fsr-3884	167	9	,	,	PUNCT
fsr-3884	167	10	are	be	AUX
fsr-3884	167	11	$	$	SYM
fsr-3884	167	12	1.58	1.58	NUM
fsr-3884	167	13	for	for	ADP
fsr-3884	167	14	the	the	DET
fsr-3884	167	15	prime	prime	NOUN
fsr-3884	167	16	and	and	CCONJ
fsr-3884	167	17	$	$	SYM
fsr-3884	167	18	5.35	5.35	NUM
fsr-3884	167	19	for	for	ADP
fsr-3884	167	20	the	the	DET
fsr-3884	167	21	score	score	NOUN
fsr-3884	167	22	.	.	PUNCT
fsr-3884	168	1	the	the	DET
fsr-3884	168	2	difference	difference	NOUN
fsr-3884	168	3	in	in	ADP
fsr-3884	168	4	the	the	DET
fsr-3884	168	5	dollar	dollar	NOUN
fsr-3884	168	6	returns	return	NOUN
fsr-3884	168	7	is	be	AUX
fsr-3884	168	8	obviously	obviously	ADV
fsr-3884	168	9	much	much	ADV
fsr-3884	168	10	smaller	small	ADJ
fsr-3884	168	11	than	than	ADP
fsr-3884	168	12	the	the	DET
fsr-3884	168	13	six	six	NUM
fsr-3884	168	14	fold	fold	ADJ
fsr-3884	168	15	difference	difference	NOUN
fsr-3884	168	16	in	in	ADP
fsr-3884	168	17	percentage	percentage	NOUN
fsr-3884	168	18	terms	term	NOUN
fsr-3884	168	19	.	.	PUNCT
fsr-3884	169	1	an	an	DET
fsr-3884	169	2	analysis	analysis	NOUN
fsr-3884	169	3	of	of	ADP
fsr-3884	169	4	the	the	DET
fsr-3884	169	5	proportional	proportional	ADJ
fsr-3884	169	6	price	price	NOUN
fsr-3884	169	7	-	-	PUNCT
fsr-3884	169	8	based	base	VERB
fsr-3884	169	9	abnormal	abnormal	ADJ
fsr-3884	169	10	returns	return	NOUN
fsr-3884	169	11	to	to	ADP
fsr-3884	169	12	stockholders	stockholder	NOUN
fsr-3884	169	13	must	must	AUX
fsr-3884	169	14	include	include	VERB
fsr-3884	169	15	an	an	DET
fsr-3884	169	16	adjustment	adjustment	NOUN
fsr-3884	169	17	that	that	PRON
fsr-3884	169	18	considers	consider	VERB
fsr-3884	169	19	the	the	DET
fsr-3884	169	20	relative	relative	ADJ
fsr-3884	169	21	values	value	NOUN
fsr-3884	169	22	of	of	ADP
fsr-3884	169	23	the	the	DET
fsr-3884	169	24	prime	prime	NOUN
fsr-3884	169	25	and	and	CCONJ
fsr-3884	169	26	score	score	NOUN
fsr-3884	169	27	.	.	PUNCT
fsr-3884	170	1	hence	hence	ADV
fsr-3884	170	2	,	,	PUNCT
fsr-3884	170	3	the	the	DET
fsr-3884	170	4	dollar	dollar	NOUN
fsr-3884	170	5	returns	return	VERB
fsr-3884	170	6	to	to	ADP
fsr-3884	170	7	prime	prime	ADJ
fsr-3884	170	8	holders	holder	NOUN
fsr-3884	170	9	,	,	PUNCT
fsr-3884	170	10	for	for	ADP
fsr-3884	170	11	example	example	NOUN
fsr-3884	170	12	,	,	PUNCT
fsr-3884	170	13	are	be	AUX
fsr-3884	170	14	best	well	ADV
fsr-3884	170	15	represented	represent	VERB
fsr-3884	170	16	by	by	ADP
fsr-3884	170	17	multiplying	multiply	VERB
fsr-3884	170	18	the	the	DET
fsr-3884	170	19	prime	prime	NOUN
fsr-3884	170	20	’s	’s	PART
fsr-3884	170	21	car	car	NOUN
fsr-3884	170	22	by	by	ADP
fsr-3884	170	23	the	the	DET
fsr-3884	170	24	proportion	proportion	NOUN
fsr-3884	170	25	of	of	ADP
fsr-3884	170	26	the	the	DET
fsr-3884	170	27	total	total	ADJ
fsr-3884	170	28	stock	stock	NOUN
fsr-3884	170	29	value	value	NOUN
fsr-3884	170	30	the	the	DET
fsr-3884	170	31	prime	prime	ADJ
fsr-3884	170	32	constitutes	constitute	NOUN
fsr-3884	170	33	.	.	PUNCT
fsr-3884	171	1	formally	formally	ADV
fsr-3884	171	2	,	,	PUNCT
fsr-3884	171	3	acarpr	acarpr	PROPN
fsr-3884	171	4	5	5	NUM
fsr-3884	171	5	carpr	carpr	NOUN
fsr-3884	171	6	p	p	PROPN
fsr-3884	171	7	vpr	vpr	NOUN
fsr-3884	171	8	vpr	vpr	VERB
fsr-3884	171	9	1	1	NUM
fsr-3884	171	10	vsc	vsc	NOUN
fsr-3884	171	11	(	(	PUNCT
fsr-3884	171	12	5	5	NUM
fsr-3884	171	13	)	)	PUNCT
fsr-3884	171	14	where	where	SCONJ
fsr-3884	171	15	vpr	vpr	NOUN
fsr-3884	171	16	and	and	CCONJ
fsr-3884	171	17	vsc	vsc	PROPN
fsr-3884	171	18	are	be	AUX
fsr-3884	171	19	market	market	NOUN
fsr-3884	171	20	closing	closing	NOUN
fsr-3884	171	21	prices	price	NOUN
fsr-3884	171	22	of	of	ADP
fsr-3884	171	23	the	the	DET
fsr-3884	171	24	two	two	NUM
fsr-3884	171	25	securities	security	NOUN
fsr-3884	171	26	the	the	DET
fsr-3884	171	27	day	day	NOUN
fsr-3884	171	28	before	before	SCONJ
fsr-3884	171	29	the	the	DET
fsr-3884	171	30	earnings	earning	NOUN
fsr-3884	171	31	announcement	announcement	NOUN
fsr-3884	171	32	is	be	AUX
fsr-3884	171	33	made	make	VERB
fsr-3884	171	34	.	.	PUNCT
fsr-3884	172	1	the	the	DET
fsr-3884	172	2	score	score	NOUN
fsr-3884	172	3	’s	’s	PART
fsr-3884	172	4	acar	acar	NOUN
fsr-3884	172	5	is	be	AUX
fsr-3884	172	6	computed	compute	VERB
fsr-3884	172	7	analogously	analogously	ADV
fsr-3884	172	8	.	.	PUNCT
fsr-3884	173	1	to	to	PART
fsr-3884	173	2	address	address	VERB
fsr-3884	173	3	the	the	DET
fsr-3884	173	4	hypotheses	hypothesis	NOUN
fsr-3884	173	5	developed	develop	VERB
fsr-3884	173	6	earlier	early	ADV
fsr-3884	173	7	with	with	ADP
fsr-3884	173	8	regard	regard	NOUN
fsr-3884	173	9	to	to	ADP
fsr-3884	173	10	time	time	NOUN
fsr-3884	173	11	to	to	ADP
fsr-3884	173	12	expiration	expiration	NOUN
fsr-3884	173	13	,	,	PUNCT
fsr-3884	173	14	moneyness	moneyness	NOUN
fsr-3884	173	15	,	,	PUNCT
fsr-3884	173	16	fourth	fourth	ADJ
fsr-3884	173	17	quarter	quarter	NOUN
fsr-3884	173	18	dividend	dividend	NOUN
fsr-3884	173	19	announcements	announcement	NOUN
fsr-3884	173	20	,	,	PUNCT
fsr-3884	173	21	and	and	CCONJ
fsr-3884	173	22	the	the	DET
fsr-3884	173	23	magnitude	magnitude	NOUN
fsr-3884	173	24	of	of	ADP
fsr-3884	173	25	the	the	DET
fsr-3884	173	26	surprise	surprise	NOUN
fsr-3884	173	27	,	,	PUNCT
fsr-3884	173	28	the	the	DET
fsr-3884	173	29	following	follow	VERB
fsr-3884	173	30	multiple	multiple	ADJ
fsr-3884	173	31	regression	regression	NOUN
fsr-3884	173	32	model	model	NOUN
fsr-3884	173	33	is	be	AUX
fsr-3884	173	34	used	use	VERB
fsr-3884	173	35	to	to	PART
fsr-3884	173	36	analyze	analyze	VERB
fsr-3884	173	37	cross	cross	ADJ
fsr-3884	173	38	-	-	ADJ
fsr-3884	173	39	sectionally	sectionally	ADV
fsr-3884	173	40	the	the	DET
fsr-3884	173	41	division	division	NOUN
fsr-3884	173	42	of	of	ADP
fsr-3884	173	43	returns	return	NOUN
fsr-3884	173	44	between	between	ADP
fsr-3884	173	45	primes	prime	NOUN
fsr-3884	173	46	and	and	CCONJ
fsr-3884	173	47	scores	score	NOUN
fsr-3884	173	48	:	:	PUNCT
fsr-3884	173	49	ratiom	ratiom	VERB
fsr-3884	173	50	5	5	NUM
fsr-3884	173	51	a0j	a0j	NOUN
fsr-3884	173	52	1	1	NUM
fsr-3884	173	53	a1j(ttexp)1	a1j(ttexp)1	NOUN
fsr-3884	173	54	a2j(money	a2j(money	NOUN
fsr-3884	173	55	)	)	PUNCT
fsr-3884	173	56	1	1	NUM
fsr-3884	173	57	a3j(qtr4	a3j(qtr4	NOUN
fsr-3884	173	58	)	)	PUNCT
fsr-3884	173	59	1	1	NUM
fsr-3884	173	60	a4j	a4j	NOUN
fsr-3884	173	61	~	~	NOUN
fsr-3884	173	62	surprise	surprise	NOUN
fsr-3884	173	63	!	!	PUNCT
fsr-3884	174	1	1	1	NUM
fsr-3884	175	1	«	«	PUNCT
fsr-3884	175	2	j.	j.	X
fsr-3884	175	3	(	(	PUNCT
fsr-3884	175	4	6	6	NUM
fsr-3884	175	5	)	)	PUNCT
fsr-3884	175	6	ratiom	ratiom	NOUN
fsr-3884	175	7	is	be	AUX
fsr-3884	175	8	the	the	DET
fsr-3884	175	9	ratio	ratio	NOUN
fsr-3884	175	10	of	of	ADP
fsr-3884	175	11	the	the	DET
fsr-3884	175	12	proportional	proportional	ADJ
fsr-3884	175	13	prime	prime	ADJ
fsr-3884	175	14	return	return	NOUN
fsr-3884	175	15	divided	divide	VERB
fsr-3884	175	16	by	by	ADP
fsr-3884	175	17	the	the	DET
fsr-3884	175	18	proportional	proportional	ADJ
fsr-3884	175	19	return	return	NOUN
fsr-3884	175	20	for	for	ADP
fsr-3884	175	21	the	the	DET
fsr-3884	175	22	score	score	NOUN
fsr-3884	175	23	,	,	PUNCT
fsr-3884	175	24	with	with	ADP
fsr-3884	175	25	returns	return	NOUN
fsr-3884	175	26	generated	generate	VERB
fsr-3884	175	27	by	by	ADP
fsr-3884	175	28	the	the	DET
fsr-3884	175	29	market	market	NOUN
fsr-3884	175	30	-	-	PUNCT
fsr-3884	175	31	adjusted	adjust	VERB
fsr-3884	175	32	return	return	NOUN
fsr-3884	175	33	method	method	NOUN
fsr-3884	175	34	.	.	PUNCT
fsr-3884	176	1	another	another	DET
fsr-3884	176	2	regressand	regressand	NOUN
fsr-3884	176	3	,	,	PUNCT
fsr-3884	176	4	94	94	NUM
fsr-3884	176	5	j.a	j.a	PROPN
fsr-3884	176	6	.	.	PROPN
fsr-3884	177	1	macdonald	macdonald	PROPN
fsr-3884	177	2	,	,	PUNCT
fsr-3884	177	3	d.m	d.m	PROPN
fsr-3884	177	4	.	.	PUNCT
fsr-3884	177	5	smith	smith	PROPN
fsr-3884	177	6	/	/	SYM
fsr-3884	177	7	financial	financial	ADJ
fsr-3884	177	8	services	service	NOUN
fsr-3884	177	9	review	review	VERB
fsr-3884	177	10	8	8	NUM
fsr-3884	177	11	(	(	PUNCT
fsr-3884	177	12	1999	1999	NUM
fsr-3884	177	13	)	)	PUNCT
fsr-3884	177	14	87–99	87–99	NUM
fsr-3884	177	15	ratioc	ratioc	NOUN
fsr-3884	177	16	,	,	PUNCT
fsr-3884	177	17	is	be	AUX
fsr-3884	177	18	computed	compute	VERB
fsr-3884	177	19	identically	identically	ADV
fsr-3884	177	20	,	,	PUNCT
fsr-3884	177	21	but	but	CCONJ
fsr-3884	177	22	is	be	AUX
fsr-3884	177	23	derived	derive	VERB
fsr-3884	177	24	from	from	ADP
fsr-3884	177	25	the	the	DET
fsr-3884	177	26	comparison	comparison	NOUN
fsr-3884	177	27	period	period	NOUN
fsr-3884	177	28	abnormal	abnormal	ADJ
fsr-3884	177	29	returns	return	NOUN
fsr-3884	177	30	approach	approach	NOUN
fsr-3884	177	31	.	.	PUNCT
fsr-3884	178	1	ttexp	ttexp	PROPN
fsr-3884	178	2	is	be	AUX
fsr-3884	178	3	the	the	DET
fsr-3884	178	4	time	time	NOUN
fsr-3884	178	5	to	to	ADP
fsr-3884	178	6	expiration	expiration	NOUN
fsr-3884	178	7	of	of	ADP
fsr-3884	178	8	each	each	DET
fsr-3884	178	9	trust	trust	NOUN
fsr-3884	178	10	(	(	PUNCT
fsr-3884	178	11	in	in	ADP
fsr-3884	178	12	years	year	NOUN
fsr-3884	178	13	)	)	PUNCT
fsr-3884	178	14	,	,	PUNCT
fsr-3884	178	15	and	and	CCONJ
fsr-3884	178	16	money	money	NOUN
fsr-3884	178	17	is	be	AUX
fsr-3884	178	18	the	the	DET
fsr-3884	178	19	percentage	percentage	NOUN
fsr-3884	178	20	by	by	ADP
fsr-3884	178	21	which	which	PRON
fsr-3884	178	22	each	each	DET
fsr-3884	178	23	firm	firm	NOUN
fsr-3884	178	24	’s	’s	PART
fsr-3884	178	25	stock	stock	NOUN
fsr-3884	178	26	price	price	NOUN
fsr-3884	178	27	exceeds	exceed	VERB
fsr-3884	178	28	the	the	DET
fsr-3884	178	29	trust	trust	NOUN
fsr-3884	178	30	’s	’s	PART
fsr-3884	178	31	termination	termination	NOUN
fsr-3884	178	32	value	value	NOUN
fsr-3884	178	33	.	.	PUNCT
fsr-3884	179	1	qtr4	qtr4	PROPN
fsr-3884	179	2	is	be	AUX
fsr-3884	179	3	a	a	DET
fsr-3884	179	4	dummy	dummy	ADJ
fsr-3884	179	5	variable	variable	NOUN
fsr-3884	179	6	assigned	assign	VERB
fsr-3884	179	7	a	a	DET
fsr-3884	179	8	value	value	NOUN
fsr-3884	179	9	of	of	ADP
fsr-3884	179	10	1	1	NUM
fsr-3884	179	11	if	if	SCONJ
fsr-3884	179	12	the	the	DET
fsr-3884	179	13	earnings	earning	NOUN
fsr-3884	179	14	result	result	NOUN
fsr-3884	179	15	is	be	AUX
fsr-3884	179	16	from	from	ADP
fsr-3884	179	17	the	the	DET
fsr-3884	179	18	fiscal	fiscal	ADJ
fsr-3884	179	19	fourth	fourth	ADJ
fsr-3884	179	20	quarter	quarter	NOUN
fsr-3884	179	21	and	and	CCONJ
fsr-3884	179	22	0	0	NUM
fsr-3884	179	23	otherwise	otherwise	ADV
fsr-3884	179	24	,	,	PUNCT
fsr-3884	179	25	and	and	CCONJ
fsr-3884	179	26	surprise	surprise	NOUN
fsr-3884	179	27	controls	control	NOUN
fsr-3884	179	28	for	for	ADP
fsr-3884	179	29	the	the	DET
fsr-3884	179	30	magnitude	magnitude	NOUN
fsr-3884	179	31	of	of	ADP
fsr-3884	179	32	the	the	DET
fsr-3884	179	33	positive	positive	ADJ
fsr-3884	179	34	or	or	CCONJ
fsr-3884	179	35	negative	negative	ADJ
fsr-3884	179	36	earnings	earning	NOUN
fsr-3884	179	37	surprise	surprise	NOUN
fsr-3884	179	38	relative	relative	ADJ
fsr-3884	179	39	to	to	ADP
fsr-3884	179	40	the	the	DET
fsr-3884	179	41	value	value	NOUN
fsr-3884	179	42	predicted	predict	VERB
fsr-3884	179	43	by	by	ADP
fsr-3884	179	44	foster	foster	PROPN
fsr-3884	179	45	’s	’s	PART
fsr-3884	179	46	model	model	NOUN
fsr-3884	179	47	or	or	CCONJ
fsr-3884	179	48	the	the	DET
fsr-3884	179	49	naive	naive	ADJ
fsr-3884	179	50	model	model	NOUN
fsr-3884	179	51	.	.	PUNCT
fsr-3884	180	1	4	4	X
fsr-3884	180	2	.	.	NOUN
fsr-3884	180	3	results	result	VERB
fsr-3884	180	4	4.1	4.1	NUM
fsr-3884	180	5	.	.	PUNCT
fsr-3884	181	1	general	general	ADJ
fsr-3884	181	2	findings	finding	NOUN
fsr-3884	181	3	observations	observation	NOUN
fsr-3884	181	4	in	in	ADP
fsr-3884	181	5	the	the	DET
fsr-3884	181	6	entire	entire	ADJ
fsr-3884	181	7	population	population	NOUN
fsr-3884	181	8	of	of	ADP
fsr-3884	181	9	earnings	earning	NOUN
fsr-3884	181	10	announcements	announcement	NOUN
fsr-3884	181	11	are	be	AUX
fsr-3884	181	12	classified	classify	VERB
fsr-3884	181	13	as	as	ADP
fsr-3884	181	14	positive	positive	ADJ
fsr-3884	181	15	or	or	CCONJ
fsr-3884	181	16	negative	negative	ADJ
fsr-3884	181	17	surprises	surprise	NOUN
fsr-3884	181	18	,	,	PUNCT
fsr-3884	181	19	and	and	CCONJ
fsr-3884	181	20	then	then	ADV
fsr-3884	181	21	the	the	DET
fsr-3884	181	22	security	security	NOUN
fsr-3884	181	23	returns	return	NOUN
fsr-3884	181	24	are	be	AUX
fsr-3884	181	25	examined	examine	VERB
fsr-3884	181	26	.	.	PUNCT
fsr-3884	182	1	table	table	NOUN
fsr-3884	182	2	2	2	NUM
fsr-3884	182	3	indicates	indicate	VERB
fsr-3884	182	4	that	that	SCONJ
fsr-3884	182	5	for	for	ADP
fsr-3884	182	6	the	the	DET
fsr-3884	182	7	screened	screen	VERB
fsr-3884	182	8	sample	sample	NOUN
fsr-3884	182	9	,	,	PUNCT
fsr-3884	182	10	the	the	DET
fsr-3884	182	11	prices	price	NOUN
fsr-3884	182	12	of	of	ADP
fsr-3884	182	13	stocks	stock	NOUN
fsr-3884	182	14	,	,	PUNCT
fsr-3884	182	15	primes	prime	NOUN
fsr-3884	182	16	,	,	PUNCT
fsr-3884	182	17	and	and	CCONJ
fsr-3884	182	18	scores	score	NOUN
fsr-3884	182	19	all	all	PRON
fsr-3884	182	20	react	react	VERB
fsr-3884	182	21	strongly	strongly	ADV
fsr-3884	182	22	to	to	ADP
fsr-3884	182	23	announcements	announcement	NOUN
fsr-3884	182	24	of	of	ADP
fsr-3884	182	25	positive	positive	ADJ
fsr-3884	182	26	earnings	earning	NOUN
fsr-3884	182	27	surprises	surprise	NOUN
fsr-3884	182	28	using	use	VERB
fsr-3884	182	29	a	a	DET
fsr-3884	182	30	naı¨ve	naı¨ve	NOUN
fsr-3884	182	31	model	model	NOUN
fsr-3884	182	32	.	.	PUNCT
fsr-3884	183	1	negative	negative	ADJ
fsr-3884	183	2	earnings	earning	NOUN
fsr-3884	183	3	surprises	surprise	NOUN
fsr-3884	183	4	are	be	AUX
fsr-3884	183	5	associated	associate	VERB
fsr-3884	183	6	with	with	ADP
fsr-3884	183	7	statistically	statistically	ADV
fsr-3884	183	8	insignificant	insignificant	ADJ
fsr-3884	183	9	abnormal	abnormal	ADJ
fsr-3884	183	10	returns	return	NOUN
fsr-3884	183	11	to	to	ADP
fsr-3884	183	12	all	all	DET
fsr-3884	183	13	three	three	NUM
fsr-3884	183	14	securities	security	NOUN
fsr-3884	183	15	.	.	PUNCT
fsr-3884	184	1	when	when	SCONJ
fsr-3884	184	2	classified	classified	ADJ
fsr-3884	184	3	using	use	VERB
fsr-3884	184	4	foster	foster	NOUN
fsr-3884	184	5	’s	’s	PART
fsr-3884	184	6	(	(	PUNCT
fsr-3884	184	7	1977	1977	NUM
fsr-3884	184	8	)	)	PUNCT
fsr-3884	184	9	specification	specification	NOUN
fsr-3884	184	10	,	,	PUNCT
fsr-3884	184	11	positive	positive	ADJ
fsr-3884	184	12	surprises	surprise	NOUN
fsr-3884	184	13	induce	induce	VERB
fsr-3884	184	14	statistically	statistically	ADV
fsr-3884	184	15	significant	significant	ADJ
fsr-3884	184	16	two	two	NUM
fsr-3884	184	17	-	-	PUNCT
fsr-3884	184	18	day	day	NOUN
fsr-3884	184	19	abnormal	abnormal	ADJ
fsr-3884	184	20	returns	return	NOUN
fsr-3884	184	21	for	for	ADP
fsr-3884	184	22	all	all	DET
fsr-3884	184	23	three	three	NUM
fsr-3884	184	24	security	security	NOUN
fsr-3884	184	25	types	type	NOUN
fsr-3884	184	26	.	.	PUNCT
fsr-3884	185	1	thus	thus	ADV
fsr-3884	185	2	,	,	PUNCT
fsr-3884	185	3	earnings	earning	NOUN
fsr-3884	185	4	surprises	surprise	NOUN
fsr-3884	185	5	clearly	clearly	ADV
fsr-3884	185	6	alter	alter	VERB
fsr-3884	185	7	the	the	DET
fsr-3884	185	8	market	market	NOUN
fsr-3884	185	9	’s	’s	PART
fsr-3884	185	10	perception	perception	NOUN
fsr-3884	185	11	of	of	ADP
fsr-3884	185	12	the	the	DET
fsr-3884	185	13	sign	sign	NOUN
fsr-3884	185	14	and	and	CCONJ
fsr-3884	185	15	magnitude	magnitude	NOUN
fsr-3884	185	16	of	of	ADP
fsr-3884	185	17	all	all	DET
fsr-3884	185	18	future	future	ADJ
fsr-3884	185	19	cash	cash	NOUN
fsr-3884	185	20	flows	flow	NOUN
fsr-3884	185	21	,	,	PUNCT
fsr-3884	185	22	from	from	ADP
fsr-3884	185	23	both	both	DET
fsr-3884	185	24	dividends	dividend	NOUN
fsr-3884	185	25	and	and	CCONJ
fsr-3884	185	26	capital	capital	NOUN
fsr-3884	185	27	gains	gain	NOUN
fsr-3884	185	28	.	.	PUNCT
fsr-3884	186	1	empirical	empirical	ADJ
fsr-3884	186	2	results	result	NOUN
fsr-3884	186	3	in	in	ADP
fsr-3884	186	4	table	table	NOUN
fsr-3884	186	5	2	2	NUM
fsr-3884	186	6	show	show	VERB
fsr-3884	186	7	that	that	SCONJ
fsr-3884	186	8	the	the	DET
fsr-3884	186	9	response	response	NOUN
fsr-3884	186	10	to	to	ADP
fsr-3884	186	11	earnings	earning	NOUN
fsr-3884	186	12	surprises	surprise	NOUN
fsr-3884	186	13	is	be	AUX
fsr-3884	186	14	relatively	relatively	ADV
fsr-3884	186	15	consistent	consistent	ADJ
fsr-3884	186	16	across	across	ADP
fsr-3884	186	17	the	the	DET
fsr-3884	186	18	two	two	NUM
fsr-3884	186	19	earnings	earning	NOUN
fsr-3884	186	20	expectation	expectation	NOUN
fsr-3884	186	21	models	model	NOUN
fsr-3884	186	22	.	.	PUNCT
fsr-3884	187	1	as	as	SCONJ
fsr-3884	187	2	the	the	DET
fsr-3884	187	3	samples	sample	NOUN
fsr-3884	187	4	overlap	overlap	VERB
fsr-3884	187	5	significantly	significantly	ADV
fsr-3884	187	6	,	,	PUNCT
fsr-3884	187	7	this	this	DET
fsr-3884	187	8	observation	observation	NOUN
fsr-3884	187	9	may	may	AUX
fsr-3884	187	10	say	say	VERB
fsr-3884	187	11	as	as	ADV
fsr-3884	187	12	much	much	ADJ
fsr-3884	187	13	about	about	ADP
fsr-3884	187	14	the	the	DET
fsr-3884	187	15	classification	classification	NOUN
fsr-3884	187	16	consistency	consistency	NOUN
fsr-3884	187	17	(	(	PUNCT
fsr-3884	187	18	i.e.	i.e.	X
fsr-3884	187	19	,	,	PUNCT
fsr-3884	187	20	discrimination	discrimination	NOUN
fsr-3884	187	21	between	between	ADP
fsr-3884	187	22	positive	positive	ADJ
fsr-3884	187	23	versus	versus	ADP
fsr-3884	187	24	negative	negative	ADJ
fsr-3884	187	25	surprises	surprise	NOUN
fsr-3884	187	26	)	)	PUNCT
fsr-3884	187	27	of	of	ADP
fsr-3884	187	28	the	the	DET
fsr-3884	187	29	models	model	NOUN
fsr-3884	187	30	themselves	themselves	PRON
fsr-3884	187	31	as	as	SCONJ
fsr-3884	187	32	it	it	PRON
fsr-3884	187	33	does	do	AUX
fsr-3884	187	34	the	the	DET
fsr-3884	187	35	robusttable	robusttable	ADJ
fsr-3884	187	36	2	2	NUM
fsr-3884	187	37	abnormal	abnormal	ADJ
fsr-3884	187	38	returns	return	NOUN
fsr-3884	187	39	around	around	ADP
fsr-3884	187	40	earnings	earning	NOUN
fsr-3884	187	41	announcements	announcement	NOUN
fsr-3884	187	42	for	for	ADP
fsr-3884	187	43	americus	americus	PROPN
fsr-3884	187	44	trust	trust	PROPN
fsr-3884	187	45	firmsa	firmsa	VERB
fsr-3884	187	46	security	security	NOUN
fsr-3884	187	47	sign	sign	NOUN
fsr-3884	187	48	of	of	ADP
fsr-3884	187	49	earnings	earning	NOUN
fsr-3884	187	50	surprise	surprise	NOUN
fsr-3884	187	51	positive	positive	ADJ
fsr-3884	187	52	negative	negative	ADJ
fsr-3884	187	53	car	car	NOUN
fsr-3884	187	54	(	(	PUNCT
fsr-3884	187	55	%	%	INTJ
fsr-3884	187	56	)	)	PUNCT
fsr-3884	187	57	t	t	NOUN
fsr-3884	187	58	-	-	PUNCT
fsr-3884	187	59	statistic	statistic	NOUN
fsr-3884	187	60	n	n	CCONJ
fsr-3884	187	61	car	car	NOUN
fsr-3884	187	62	(	(	PUNCT
fsr-3884	187	63	%	%	INTJ
fsr-3884	187	64	)	)	PUNCT
fsr-3884	187	65	t	t	NOUN
fsr-3884	187	66	-	-	PUNCT
fsr-3884	187	67	statistic	statistic	NOUN
fsr-3884	187	68	n	n	PRON
fsr-3884	187	69	foster	foster	NOUN
fsr-3884	187	70	’s	’s	PART
fsr-3884	188	1	(	(	PUNCT
fsr-3884	188	2	1977	1977	NUM
fsr-3884	188	3	)	)	PUNCT
fsr-3884	188	4	classification	classification	NOUN
fsr-3884	188	5	model	model	NOUN
fsr-3884	188	6	stock	stock	NOUN
fsr-3884	188	7	0.32b	0.32b	NUM
fsr-3884	188	8	2.83	2.83	NUM
fsr-3884	188	9	*	*	PUNCT
fsr-3884	188	10	*	*	PUNCT
fsr-3884	188	11	*	*	PUNCT
fsr-3884	188	12	73	73	NUM
fsr-3884	188	13	20.13	20.13	NUM
fsr-3884	188	14	20.24	20.24	NUM
fsr-3884	188	15	26	26	NUM
fsr-3884	188	16	prime	prime	NOUN
fsr-3884	188	17	0.16	0.16	NUM
fsr-3884	188	18	1.46	1.46	NUM
fsr-3884	188	19	*	*	PUNCT
fsr-3884	188	20	73	73	NUM
fsr-3884	188	21	0.40	0.40	NUM
fsr-3884	188	22	0.42	0.42	NUM
fsr-3884	188	23	26	26	NUM
fsr-3884	188	24	score	score	NOUN
fsr-3884	188	25	1.41	1.41	NUM
fsr-3884	188	26	2.69	2.69	NUM
fsr-3884	188	27	*	*	PUNCT
fsr-3884	188	28	*	*	PUNCT
fsr-3884	188	29	*	*	PUNCT
fsr-3884	188	30	73	73	NUM
fsr-3884	188	31	21.63	21.63	NUM
fsr-3884	188	32	20.20	20.20	NUM
fsr-3884	188	33	26	26	NUM
fsr-3884	188	34	naive	naive	ADJ
fsr-3884	188	35	classification	classification	NOUN
fsr-3884	188	36	model	model	NOUN
fsr-3884	188	37	stock	stock	NOUN
fsr-3884	188	38	0.26	0.26	NUM
fsr-3884	188	39	1.58	1.58	NUM
fsr-3884	188	40	*	*	PUNCT
fsr-3884	188	41	76	76	NUM
fsr-3884	188	42	20.05	20.05	NUM
fsr-3884	188	43	20.09	20.09	NUM
fsr-3884	188	44	23	23	NUM
fsr-3884	188	45	prime	prime	NOUN
fsr-3884	188	46	0.11	0.11	NUM
fsr-3884	188	47	0.99	0.99	NUM
fsr-3884	188	48	76	76	NUM
fsr-3884	188	49	0.51	0.51	NUM
fsr-3884	188	50	0.56	0.56	NUM
fsr-3884	188	51	23	23	NUM
fsr-3884	188	52	score	score	NOUN
fsr-3884	188	53	1.20	1.20	NUM
fsr-3884	188	54	2.27	2.27	NUM
fsr-3884	188	55	*	*	PUNCT
fsr-3884	188	56	*	*	PROPN
fsr-3884	188	57	76	76	NUM
fsr-3884	188	58	21.36	21.36	NUM
fsr-3884	188	59	20.17	20.17	NUM
fsr-3884	188	60	23	23	NUM
fsr-3884	188	61	a	a	DET
fsr-3884	188	62	this	this	DET
fsr-3884	188	63	table	table	NOUN
fsr-3884	188	64	contains	contain	VERB
fsr-3884	188	65	two	two	NUM
fsr-3884	188	66	-	-	PUNCT
fsr-3884	188	67	day	day	NOUN
fsr-3884	188	68	cumulative	cumulative	ADJ
fsr-3884	188	69	abnormal	abnormal	ADJ
fsr-3884	188	70	returns	return	NOUN
fsr-3884	188	71	(	(	PUNCT
fsr-3884	188	72	cars	car	NOUN
fsr-3884	188	73	)	)	PUNCT
fsr-3884	188	74	for	for	ADP
fsr-3884	188	75	stocks	stock	NOUN
fsr-3884	188	76	,	,	PUNCT
fsr-3884	188	77	primes	prime	NOUN
fsr-3884	188	78	,	,	PUNCT
fsr-3884	188	79	and	and	CCONJ
fsr-3884	188	80	scores	score	NOUN
fsr-3884	188	81	around	around	ADP
fsr-3884	188	82	the	the	DET
fsr-3884	188	83	time	time	NOUN
fsr-3884	188	84	of	of	ADP
fsr-3884	188	85	earnings	earning	NOUN
fsr-3884	188	86	announcements	announcement	NOUN
fsr-3884	188	87	.	.	PUNCT
fsr-3884	189	1	the	the	DET
fsr-3884	189	2	abnormal	abnormal	ADJ
fsr-3884	189	3	return	return	NOUN
fsr-3884	189	4	technique	technique	NOUN
fsr-3884	189	5	used	use	VERB
fsr-3884	189	6	is	be	AUX
fsr-3884	189	7	the	the	DET
fsr-3884	189	8	market	market	NOUN
fsr-3884	189	9	-	-	PUNCT
fsr-3884	189	10	adjusted	adjust	VERB
fsr-3884	189	11	returns	return	NOUN
fsr-3884	189	12	approach	approach	VERB
fsr-3884	189	13	.	.	PUNCT
fsr-3884	190	1	b	b	X
fsr-3884	190	2	all	all	DET
fsr-3884	190	3	abnormal	abnormal	ADJ
fsr-3884	190	4	returns	return	NOUN
fsr-3884	190	5	are	be	AUX
fsr-3884	190	6	for	for	ADP
fsr-3884	190	7	days21	days21	NOUN
fsr-3884	190	8	and	and	CCONJ
fsr-3884	190	9	0	0	NUM
fsr-3884	190	10	.	.	X
fsr-3884	190	11	*	*	PUNCT
fsr-3884	190	12	statistically	statistically	ADV
fsr-3884	190	13	significant	significant	ADJ
fsr-3884	190	14	at	at	ADP
fsr-3884	190	15	.10	.10	NUM
fsr-3884	190	16	level	level	NOUN
fsr-3884	190	17	,	,	PUNCT
fsr-3884	190	18	one	one	NUM
fsr-3884	190	19	-	-	PUNCT
fsr-3884	190	20	tailed	tail	VERB
fsr-3884	190	21	test	test	NOUN
fsr-3884	190	22	.	.	PUNCT
fsr-3884	191	1	*	*	PUNCT
fsr-3884	191	2	*	*	PUNCT
fsr-3884	191	3	statistically	statistically	ADV
fsr-3884	191	4	significant	significant	ADJ
fsr-3884	191	5	at	at	ADP
fsr-3884	191	6	.05	.05	NUM
fsr-3884	191	7	level	level	NOUN
fsr-3884	191	8	,	,	PUNCT
fsr-3884	191	9	one	one	NUM
fsr-3884	191	10	-	-	PUNCT
fsr-3884	191	11	tailed	tail	VERB
fsr-3884	191	12	test	test	NOUN
fsr-3884	191	13	.	.	PUNCT
fsr-3884	192	1	*	*	PUNCT
fsr-3884	193	1	*	*	PUNCT
fsr-3884	193	2	*	*	PUNCT
fsr-3884	193	3	statistically	statistically	ADV
fsr-3884	193	4	significant	significant	ADJ
fsr-3884	193	5	at	at	ADP
fsr-3884	193	6	.01	.01	NUM
fsr-3884	193	7	level	level	NOUN
fsr-3884	193	8	,	,	PUNCT
fsr-3884	193	9	one	one	NUM
fsr-3884	193	10	-	-	PUNCT
fsr-3884	193	11	tailed	tail	VERB
fsr-3884	193	12	test	test	NOUN
fsr-3884	193	13	.	.	PUNCT
fsr-3884	194	1	95j.a	95j.a	NUM
fsr-3884	194	2	.	.	PUNCT
fsr-3884	195	1	macdonald	macdonald	PROPN
fsr-3884	195	2	,	,	PUNCT
fsr-3884	195	3	d.m	d.m	PROPN
fsr-3884	195	4	.	.	PUNCT
fsr-3884	195	5	smith	smith	PROPN
fsr-3884	195	6	/	/	SYM
fsr-3884	195	7	financial	financial	ADJ
fsr-3884	195	8	services	service	NOUN
fsr-3884	195	9	review	review	VERB
fsr-3884	195	10	8	8	NUM
fsr-3884	195	11	(	(	PUNCT
fsr-3884	195	12	1999	1999	NUM
fsr-3884	195	13	)	)	PUNCT
fsr-3884	195	14	87–99	87–99	NUM
fsr-3884	195	15	ness	ness	NOUN
fsr-3884	195	16	of	of	ADP
fsr-3884	195	17	the	the	DET
fsr-3884	195	18	observed	observed	ADJ
fsr-3884	195	19	proportions	proportion	NOUN
fsr-3884	195	20	.	.	PUNCT
fsr-3884	196	1	the	the	DET
fsr-3884	196	2	cars	car	NOUN
fsr-3884	196	3	and	and	CCONJ
fsr-3884	196	4	adjusted	adjust	VERB
fsr-3884	196	5	cars	car	NOUN
fsr-3884	196	6	reported	report	VERB
fsr-3884	196	7	in	in	ADP
fsr-3884	196	8	tables	table	NOUN
fsr-3884	196	9	2	2	NUM
fsr-3884	196	10	and	and	CCONJ
fsr-3884	196	11	3	3	NUM
fsr-3884	196	12	are	be	AUX
fsr-3884	196	13	based	base	VERB
fsr-3884	196	14	on	on	ADP
fsr-3884	196	15	the	the	DET
fsr-3884	196	16	pre	pre	ADJ
fsr-3884	196	17	-	-	ADJ
fsr-3884	196	18	announcement	announcement	ADJ
fsr-3884	196	19	market	market	NOUN
fsr-3884	196	20	values	value	NOUN
fsr-3884	196	21	of	of	ADP
fsr-3884	196	22	the	the	DET
fsr-3884	196	23	primes	prime	NOUN
fsr-3884	196	24	and	and	CCONJ
fsr-3884	196	25	scores	score	NOUN
fsr-3884	196	26	.	.	PUNCT
fsr-3884	197	1	the	the	DET
fsr-3884	197	2	combined	combine	VERB
fsr-3884	197	3	value	value	NOUN
fsr-3884	197	4	of	of	ADP
fsr-3884	197	5	the	the	DET
fsr-3884	197	6	two	two	NUM
fsr-3884	197	7	securities	security	NOUN
fsr-3884	197	8	is	be	AUX
fsr-3884	197	9	within	within	ADP
fsr-3884	197	10	arbitrage	arbitrage	NOUN
fsr-3884	197	11	bounds	bound	NOUN
fsr-3884	197	12	of	of	ADP
fsr-3884	197	13	equaling	equal	VERB
fsr-3884	197	14	the	the	DET
fsr-3884	197	15	stock	stock	NOUN
fsr-3884	197	16	’s	’s	PART
fsr-3884	197	17	value	value	NOUN
fsr-3884	197	18	(	(	PUNCT
fsr-3884	197	19	see	see	VERB
fsr-3884	197	20	jarrow	jarrow	PROPN
fsr-3884	197	21	and	and	CCONJ
fsr-3884	197	22	o’hara	o’hara	NOUN
fsr-3884	197	23	,	,	PUNCT
fsr-3884	197	24	1989	1989	NUM
fsr-3884	197	25	)	)	PUNCT
fsr-3884	197	26	.	.	PUNCT
fsr-3884	198	1	as	as	SCONJ
fsr-3884	198	2	table	table	NOUN
fsr-3884	198	3	3	3	NUM
fsr-3884	198	4	indicates	indicate	VERB
fsr-3884	198	5	,	,	PUNCT
fsr-3884	198	6	at	at	ADP
fsr-3884	198	7	the	the	DET
fsr-3884	198	8	time	time	NOUN
fsr-3884	198	9	of	of	ADP
fsr-3884	198	10	positive	positive	ADJ
fsr-3884	198	11	surprises	surprise	NOUN
fsr-3884	198	12	,	,	PUNCT
fsr-3884	198	13	prime	prime	ADJ
fsr-3884	198	14	holders	holder	NOUN
fsr-3884	198	15	receive	receive	VERB
fsr-3884	198	16	roughly	roughly	ADV
fsr-3884	198	17	30	30	NUM
fsr-3884	198	18	%	%	NOUN
fsr-3884	198	19	of	of	ADP
fsr-3884	198	20	the	the	DET
fsr-3884	198	21	total	total	ADJ
fsr-3884	198	22	return	return	NOUN
fsr-3884	198	23	whereas	whereas	SCONJ
fsr-3884	198	24	score	score	NOUN
fsr-3884	198	25	holders	holder	NOUN
fsr-3884	198	26	reap	reap	VERB
fsr-3884	198	27	about	about	ADV
fsr-3884	198	28	70	70	NUM
fsr-3884	198	29	%	%	NOUN
fsr-3884	198	30	.	.	PUNCT
fsr-3884	199	1	these	these	DET
fsr-3884	199	2	findings	finding	NOUN
fsr-3884	199	3	are	be	AUX
fsr-3884	199	4	quite	quite	ADV
fsr-3884	199	5	robust	robust	ADJ
fsr-3884	199	6	across	across	ADP
fsr-3884	199	7	other	other	ADJ
fsr-3884	199	8	earnings	earning	NOUN
fsr-3884	199	9	estimation	estimation	NOUN
fsr-3884	199	10	models	model	NOUN
fsr-3884	199	11	and	and	CCONJ
fsr-3884	199	12	abnormal	abnormal	ADJ
fsr-3884	199	13	return	return	NOUN
fsr-3884	199	14	metrics	metric	NOUN
fsr-3884	199	15	.	.	PUNCT
fsr-3884	200	1	for	for	ADP
fsr-3884	200	2	the	the	DET
fsr-3884	200	3	firms	firm	NOUN
fsr-3884	200	4	in	in	ADP
fsr-3884	200	5	this	this	DET
fsr-3884	200	6	sample	sample	NOUN
fsr-3884	200	7	,	,	PUNCT
fsr-3884	200	8	then	then	ADV
fsr-3884	200	9	,	,	PUNCT
fsr-3884	200	10	positive	positive	ADJ
fsr-3884	200	11	earnings	earning	NOUN
fsr-3884	200	12	surprises	surprise	NOUN
fsr-3884	200	13	induce	induce	VERB
fsr-3884	200	14	significant	significant	ADJ
fsr-3884	200	15	changes	change	NOUN
fsr-3884	200	16	in	in	ADP
fsr-3884	200	17	investor	investor	NOUN
fsr-3884	200	18	expectations	expectation	NOUN
fsr-3884	200	19	of	of	ADP
fsr-3884	200	20	future	future	ADJ
fsr-3884	200	21	capital	capital	NOUN
fsr-3884	200	22	gains	gain	NOUN
fsr-3884	200	23	,	,	PUNCT
fsr-3884	200	24	and	and	CCONJ
fsr-3884	200	25	a	a	DET
fsr-3884	200	26	much	much	ADV
fsr-3884	200	27	smaller	small	ADJ
fsr-3884	200	28	revision	revision	NOUN
fsr-3884	200	29	in	in	ADP
fsr-3884	200	30	perception	perception	NOUN
fsr-3884	200	31	of	of	ADP
fsr-3884	200	32	the	the	DET
fsr-3884	200	33	firm	firm	NOUN
fsr-3884	200	34	’s	’s	PART
fsr-3884	200	35	future	future	ADJ
fsr-3884	200	36	dividend	dividend	NOUN
fsr-3884	200	37	policy	policy	NOUN
fsr-3884	200	38	.	.	PUNCT
fsr-3884	201	1	this	this	DET
fsr-3884	201	2	evidences	evidence	VERB
fsr-3884	201	3	dividend	dividend	NOUN
fsr-3884	201	4	stickiness	stickiness	NOUN
fsr-3884	201	5	,	,	PUNCT
fsr-3884	201	6	that	that	PRON
fsr-3884	201	7	means	mean	VERB
fsr-3884	201	8	that	that	SCONJ
fsr-3884	201	9	dividends	dividend	NOUN
fsr-3884	201	10	are	be	AUX
fsr-3884	201	11	linked	link	VERB
fsr-3884	201	12	to	to	ADP
fsr-3884	201	13	earnings	earning	NOUN
fsr-3884	201	14	somewhat	somewhat	ADV
fsr-3884	201	15	loosely	loosely	ADV
fsr-3884	201	16	and	and	CCONJ
fsr-3884	201	17	with	with	ADP
fsr-3884	201	18	a	a	DET
fsr-3884	201	19	time	time	NOUN
fsr-3884	201	20	lag	lag	NOUN
fsr-3884	201	21	.	.	PUNCT
fsr-3884	202	1	4.2	4.2	NUM
fsr-3884	202	2	.	.	PUNCT
fsr-3884	202	3	fiscal	fiscal	ADJ
fsr-3884	202	4	quarter	quarter	NOUN
fsr-3884	202	5	effects	effect	NOUN
fsr-3884	202	6	table	table	NOUN
fsr-3884	202	7	4	4	NUM
fsr-3884	202	8	shows	show	VERB
fsr-3884	202	9	the	the	DET
fsr-3884	202	10	results	result	NOUN
fsr-3884	202	11	for	for	ADP
fsr-3884	202	12	the	the	DET
fsr-3884	202	13	regression	regression	NOUN
fsr-3884	202	14	model	model	NOUN
fsr-3884	202	15	using	use	VERB
fsr-3884	202	16	both	both	CCONJ
fsr-3884	202	17	market	market	NOUN
fsr-3884	202	18	-	-	PUNCT
fsr-3884	202	19	adjusted	adjust	VERB
fsr-3884	202	20	and	and	CCONJ
fsr-3884	202	21	comparison	comparison	NOUN
fsr-3884	202	22	period	period	NOUN
fsr-3884	202	23	returns	return	NOUN
fsr-3884	202	24	.	.	PUNCT
fsr-3884	203	1	the	the	DET
fsr-3884	203	2	ols	ols	PROPN
fsr-3884	203	3	coefficients	coefficient	NOUN
fsr-3884	203	4	in	in	ADP
fsr-3884	203	5	panel	panel	NOUN
fsr-3884	204	1	a	a	PRON
fsr-3884	204	2	indicate	indicate	VERB
fsr-3884	204	3	that	that	SCONJ
fsr-3884	204	4	the	the	DET
fsr-3884	204	5	proportional	proportional	ADJ
fsr-3884	204	6	contributions	contribution	NOUN
fsr-3884	204	7	of	of	ADP
fsr-3884	204	8	primes	prime	NOUN
fsr-3884	204	9	and	and	CCONJ
fsr-3884	204	10	scores	score	NOUN
fsr-3884	204	11	to	to	ADP
fsr-3884	204	12	the	the	DET
fsr-3884	204	13	total	total	ADJ
fsr-3884	204	14	return	return	NOUN
fsr-3884	204	15	around	around	ADP
fsr-3884	204	16	positive	positive	ADJ
fsr-3884	204	17	earnings	earning	NOUN
fsr-3884	204	18	surprises	surprise	NOUN
fsr-3884	204	19	do	do	AUX
fsr-3884	204	20	not	not	PART
fsr-3884	204	21	differ	differ	VERB
fsr-3884	204	22	significantly	significantly	ADV
fsr-3884	204	23	across	across	ADP
fsr-3884	204	24	in	in	ADP
fsr-3884	204	25	-	-	PUNCT
fsr-3884	204	26	the	the	DET
fsr-3884	204	27	-	-	PUNCT
fsr-3884	204	28	moneyness	moneyness	NOUN
fsr-3884	204	29	and	and	CCONJ
fsr-3884	204	30	expiration	expiration	NOUN
fsr-3884	204	31	states	state	NOUN
fsr-3884	204	32	.	.	PUNCT
fsr-3884	205	1	likewise	likewise	ADV
fsr-3884	205	2	,	,	PUNCT
fsr-3884	205	3	the	the	DET
fsr-3884	205	4	magnitude	magnitude	NOUN
fsr-3884	205	5	of	of	ADP
fsr-3884	205	6	earnings	earning	NOUN
fsr-3884	205	7	surprises	surprise	NOUN
fsr-3884	205	8	does	do	AUX
fsr-3884	205	9	not	not	PART
fsr-3884	205	10	seem	seem	VERB
fsr-3884	205	11	to	to	PART
fsr-3884	205	12	affect	affect	VERB
fsr-3884	205	13	the	the	DET
fsr-3884	205	14	division	division	NOUN
fsr-3884	205	15	of	of	ADP
fsr-3884	205	16	returns	return	NOUN
fsr-3884	205	17	.	.	PUNCT
fsr-3884	206	1	table	table	NOUN
fsr-3884	206	2	3	3	NUM
fsr-3884	206	3	adjusted	adjust	VERB
fsr-3884	206	4	cumulative	cumulative	ADJ
fsr-3884	206	5	abnormal	abnormal	ADJ
fsr-3884	206	6	returns	return	NOUN
fsr-3884	206	7	for	for	ADP
fsr-3884	206	8	share	share	NOUN
fsr-3884	206	9	equivalent	equivalent	ADJ
fsr-3884	206	10	investment	investment	NOUN
fsr-3884	206	11	in	in	ADP
fsr-3884	206	12	americus	americus	PROPN
fsr-3884	206	13	trust	trust	PROPN
fsr-3884	206	14	securitiesa	securitiesa	PROPN
fsr-3884	206	15	security	security	NOUN
fsr-3884	206	16	sign	sign	NOUN
fsr-3884	206	17	of	of	ADP
fsr-3884	206	18	earnings	earning	NOUN
fsr-3884	206	19	surprise	surprise	NOUN
fsr-3884	206	20	positive	positive	ADJ
fsr-3884	206	21	negative	negative	ADJ
fsr-3884	206	22	acar	acar	NOUN
fsr-3884	206	23	(	(	PUNCT
fsr-3884	206	24	%	%	INTJ
fsr-3884	206	25	)	)	PUNCT
fsr-3884	206	26	proportion	proportion	NOUN
fsr-3884	206	27	n	n	PRON
fsr-3884	206	28	acar	acar	NOUN
fsr-3884	206	29	(	(	PUNCT
fsr-3884	206	30	%	%	INTJ
fsr-3884	206	31	)	)	PUNCT
fsr-3884	206	32	proportion	proportion	NOUN
fsr-3884	206	33	n	n	DET
fsr-3884	206	34	naive	naive	ADJ
fsr-3884	206	35	classification	classification	NOUN
fsr-3884	206	36	model	model	NOUN
fsr-3884	206	37	prime	prime	NOUN
fsr-3884	206	38	0.0864	0.0864	NUM
fsr-3884	206	39	0.2913	0.2913	NUM
fsr-3884	207	1	73	73	NUM
fsr-3884	207	2	0.7358	0.7358	NUM
fsr-3884	207	3	0.3397	0.3397	NUM
fsr-3884	207	4	26	26	NUM
fsr-3884	207	5	score	score	NOUN
fsr-3884	207	6	0.3865	0.3865	NUM
fsr-3884	207	7	0.7087	0.7087	NUM
fsr-3884	207	8	73	73	NUM
fsr-3884	207	9	20.3100	20.3100	NUM
fsr-3884	207	10	0.6603	0.6603	NUM
fsr-3884	207	11	26	26	NUM
fsr-3884	207	12	foster	foster	NOUN
fsr-3884	207	13	’s	’s	PART
fsr-3884	208	1	(	(	PUNCT
fsr-3884	208	2	1977	1977	NUM
fsr-3884	208	3	)	)	PUNCT
fsr-3884	208	4	classification	classification	NOUN
fsr-3884	208	5	model	model	NOUN
fsr-3884	208	6	prime	prime	NOUN
fsr-3884	208	7	0.1209	0.1209	NUM
fsr-3884	208	8	0.2886	0.2886	NUM
fsr-3884	208	9	71	71	NUM
fsr-3884	208	10	0.3047	0.3047	NUM
fsr-3884	208	11	0.3804	0.3804	NUM
fsr-3884	208	12	28	28	NUM
fsr-3884	208	13	score	score	NOUN
fsr-3884	208	14	0.4249	0.4249	NUM
fsr-3884	208	15	0.7164	0.7164	NUM
fsr-3884	208	16	71	71	NUM
fsr-3884	208	17	20.3720	20.3720	NUM
fsr-3884	208	18	0.6196	0.6196	NUM
fsr-3884	208	19	28	28	NUM
fsr-3884	208	20	a	a	DET
fsr-3884	208	21	adjusted	adjust	VERB
fsr-3884	208	22	cumulative	cumulative	ADJ
fsr-3884	208	23	abnormal	abnormal	ADJ
fsr-3884	208	24	returns	return	NOUN
fsr-3884	208	25	for	for	ADP
fsr-3884	208	26	primes	prime	NOUN
fsr-3884	208	27	(	(	PUNCT
fsr-3884	208	28	acarpr	acarpr	ADJ
fsr-3884	208	29	)	)	PUNCT
fsr-3884	208	30	are	be	AUX
fsr-3884	208	31	two	two	NUM
fsr-3884	208	32	-	-	PUNCT
fsr-3884	208	33	day	day	NOUN
fsr-3884	208	34	cumulative	cumulative	ADJ
fsr-3884	208	35	abnormal	abnormal	ADJ
fsr-3884	208	36	returns	return	NOUN
fsr-3884	208	37	to	to	ADP
fsr-3884	208	38	primeholders	primeholder	NOUN
fsr-3884	208	39	times	time	NOUN
fsr-3884	208	40	[	[	X
fsr-3884	208	41	vpr/(vpr	vpr/(vpr	NOUN
fsr-3884	208	42	1	1	NUM
fsr-3884	208	43	vsc	vsc	PROPN
fsr-3884	208	44	)	)	PUNCT
fsr-3884	208	45	]	]	PUNCT
fsr-3884	208	46	,	,	PUNCT
fsr-3884	208	47	where	where	SCONJ
fsr-3884	208	48	the	the	DET
fsr-3884	208	49	vpr	vpr	NOUN
fsr-3884	208	50	and	and	CCONJ
fsr-3884	208	51	vsc	vsc	PROPN
fsr-3884	208	52	are	be	AUX
fsr-3884	208	53	the	the	DET
fsr-3884	208	54	closing	close	VERB
fsr-3884	208	55	prices	price	NOUN
fsr-3884	208	56	on	on	ADP
fsr-3884	208	57	the	the	DET
fsr-3884	208	58	day	day	NOUN
fsr-3884	208	59	before	before	ADP
fsr-3884	208	60	an	an	DET
fsr-3884	208	61	earnings	earning	NOUN
fsr-3884	208	62	announcement	announcement	NOUN
fsr-3884	208	63	.	.	PUNCT
fsr-3884	209	1	for	for	ADP
fsr-3884	209	2	scores	score	NOUN
fsr-3884	209	3	,	,	PUNCT
fsr-3884	209	4	acarsc	acarsc	ADV
fsr-3884	209	5	equals	equal	VERB
fsr-3884	209	6	market	market	NOUN
fsr-3884	209	7	model	model	NOUN
fsr-3884	209	8	abnormal	abnormal	ADJ
fsr-3884	209	9	returns	return	NOUN
fsr-3884	209	10	to	to	ADP
fsr-3884	209	11	scoreholders	scoreholder	NOUN
fsr-3884	209	12	times	time	NOUN
fsr-3884	209	13	[	[	X
fsr-3884	209	14	vsc/(vpr	vsc/(vpr	NOUN
fsr-3884	209	15	1	1	NUM
fsr-3884	209	16	vsc	vsc	PROPN
fsr-3884	209	17	)	)	PUNCT
fsr-3884	209	18	]	]	PUNCT
fsr-3884	209	19	.	.	PUNCT
fsr-3884	210	1	proportion	proportion	NOUN
fsr-3884	210	2	for	for	ADP
fsr-3884	210	3	primes	prime	NOUN
fsr-3884	210	4	is	be	AUX
fsr-3884	210	5	the	the	DET
fsr-3884	210	6	acarpr/(acarpr	acarpr/(acarpr	DET
fsr-3884	210	7	1	1	NUM
fsr-3884	210	8	acarsc	acarsc	ADJ
fsr-3884	210	9	)	)	PUNCT
fsr-3884	210	10	.	.	PUNCT
fsr-3884	211	1	proportion	proportion	NOUN
fsr-3884	211	2	for	for	ADP
fsr-3884	211	3	scores	score	NOUN
fsr-3884	211	4	is	be	AUX
fsr-3884	211	5	defined	define	VERB
fsr-3884	211	6	analogously	analogously	ADV
fsr-3884	211	7	.	.	PUNCT
fsr-3884	212	1	the	the	DET
fsr-3884	212	2	following	follow	VERB
fsr-3884	212	3	example	example	NOUN
fsr-3884	212	4	attempts	attempt	VERB
fsr-3884	212	5	to	to	PART
fsr-3884	212	6	clarify	clarify	VERB
fsr-3884	212	7	the	the	DET
fsr-3884	212	8	concept	concept	NOUN
fsr-3884	212	9	of	of	ADP
fsr-3884	212	10	acars	acar	NOUN
fsr-3884	212	11	and	and	CCONJ
fsr-3884	212	12	proportional	proportional	ADJ
fsr-3884	212	13	return	return	NOUN
fsr-3884	212	14	:	:	PUNCT
fsr-3884	212	15	prime	prime	ADJ
fsr-3884	212	16	score	score	NOUN
fsr-3884	212	17	stock	stock	NOUN
fsr-3884	212	18	market	market	NOUN
fsr-3884	212	19	value	value	NOUN
fsr-3884	212	20	$	$	SYM
fsr-3884	212	21	10	10	NUM
fsr-3884	212	22	$	$	SYM
fsr-3884	212	23	20	20	NUM
fsr-3884	212	24	$	$	SYM
fsr-3884	212	25	30	30	NUM
fsr-3884	212	26	car	car	NOUN
fsr-3884	212	27	10	10	NUM
fsr-3884	212	28	%	%	NOUN
fsr-3884	212	29	7	7	NUM
fsr-3884	212	30	%	%	NOUN
fsr-3884	212	31	8	8	NUM
fsr-3884	212	32	%	%	NOUN
fsr-3884	212	33	acar	acar	VERB
fsr-3884	212	34	3.33	3.33	NUM
fsr-3884	212	35	%	%	NOUN
fsr-3884	212	36	4.67	4.67	NUM
fsr-3884	212	37	%	%	NOUN
fsr-3884	212	38	8.00	8.00	NUM
fsr-3884	212	39	%	%	NOUN
fsr-3884	212	40	proportional	proportional	ADJ
fsr-3884	212	41	return	return	NOUN
fsr-3884	212	42	41.67	41.67	NUM
fsr-3884	212	43	%	%	NOUN
fsr-3884	212	44	58.33	58.33	NUM
fsr-3884	212	45	%	%	NOUN
fsr-3884	212	46	100.00	100.00	NUM
fsr-3884	212	47	%	%	NOUN
fsr-3884	212	48	viewing	view	VERB
fsr-3884	212	49	common	common	ADJ
fsr-3884	212	50	stock	stock	NOUN
fsr-3884	212	51	as	as	ADP
fsr-3884	212	52	a	a	DET
fsr-3884	212	53	portfolio	portfolio	NOUN
fsr-3884	212	54	of	of	ADP
fsr-3884	212	55	a	a	DET
fsr-3884	212	56	prime	prime	NOUN
fsr-3884	212	57	and	and	CCONJ
fsr-3884	212	58	score	score	NOUN
fsr-3884	212	59	,	,	PUNCT
fsr-3884	212	60	the	the	DET
fsr-3884	212	61	adjusted	adjust	VERB
fsr-3884	212	62	car	car	NOUN
fsr-3884	212	63	for	for	ADP
fsr-3884	212	64	the	the	DET
fsr-3884	212	65	prime	prime	NOUN
fsr-3884	212	66	is	be	AUX
fsr-3884	212	67	10	10	NUM
fsr-3884	212	68	%	%	NOUN
fsr-3884	212	69	times	time	NOUN
fsr-3884	212	70	the	the	DET
fsr-3884	212	71	prime	prime	NOUN
fsr-3884	212	72	’s	’s	PART
fsr-3884	212	73	weight	weight	NOUN
fsr-3884	212	74	in	in	ADP
fsr-3884	212	75	the	the	DET
fsr-3884	212	76	portfolio	portfolio	NOUN
fsr-3884	212	77	(	(	PUNCT
fsr-3884	212	78	one	one	NUM
fsr-3884	212	79	-	-	PUNCT
fsr-3884	212	80	third	third	NOUN
fsr-3884	212	81	)	)	PUNCT
fsr-3884	212	82	.	.	PUNCT
fsr-3884	213	1	the	the	DET
fsr-3884	213	2	score	score	NOUN
fsr-3884	213	3	’s	’s	PART
fsr-3884	213	4	acar	acar	NOUN
fsr-3884	213	5	of	of	ADP
fsr-3884	213	6	4.67	4.67	NUM
fsr-3884	213	7	%	%	NOUN
fsr-3884	213	8	equals	equal	VERB
fsr-3884	213	9	the	the	DET
fsr-3884	213	10	7	7	NUM
fsr-3884	213	11	%	%	NOUN
fsr-3884	213	12	return	return	NOUN
fsr-3884	213	13	to	to	ADP
fsr-3884	213	14	the	the	DET
fsr-3884	213	15	score	score	NOUN
fsr-3884	213	16	times	time	NOUN
fsr-3884	213	17	its	its	PRON
fsr-3884	213	18	portfolio	portfolio	NOUN
fsr-3884	213	19	weight	weight	NOUN
fsr-3884	213	20	(	(	PUNCT
fsr-3884	213	21	two	two	NUM
fsr-3884	213	22	-	-	PUNCT
fsr-3884	213	23	thirds	third	NOUN
fsr-3884	213	24	)	)	PUNCT
fsr-3884	213	25	.	.	PUNCT
fsr-3884	214	1	96	96	NUM
fsr-3884	214	2	j.a	j.a	PROPN
fsr-3884	214	3	.	.	PROPN
fsr-3884	215	1	macdonald	macdonald	PROPN
fsr-3884	215	2	,	,	PUNCT
fsr-3884	215	3	d.m	d.m	PROPN
fsr-3884	215	4	.	.	PUNCT
fsr-3884	215	5	smith	smith	PROPN
fsr-3884	215	6	/	/	SYM
fsr-3884	215	7	financial	financial	ADJ
fsr-3884	215	8	services	service	NOUN
fsr-3884	215	9	review	review	VERB
fsr-3884	215	10	8	8	NUM
fsr-3884	215	11	(	(	PUNCT
fsr-3884	215	12	1999	1999	NUM
fsr-3884	215	13	)	)	PUNCT
fsr-3884	215	14	87–99	87–99	NUM
fsr-3884	215	15	the	the	DET
fsr-3884	215	16	only	only	ADJ
fsr-3884	215	17	statistically	statistically	ADV
fsr-3884	215	18	significant	significant	ADJ
fsr-3884	215	19	coefficient	coefficient	NOUN
fsr-3884	215	20	is	be	AUX
fsr-3884	215	21	on	on	ADP
fsr-3884	215	22	the	the	DET
fsr-3884	215	23	dummy	dummy	ADJ
fsr-3884	215	24	variable	variable	NOUN
fsr-3884	215	25	for	for	ADP
fsr-3884	215	26	the	the	DET
fsr-3884	215	27	fiscal	fiscal	ADJ
fsr-3884	215	28	quarter	quarter	NOUN
fsr-3884	215	29	.	.	PUNCT
fsr-3884	216	1	the	the	DET
fsr-3884	216	2	coefficient	coefficient	NOUN
fsr-3884	216	3	’s	’s	PART
fsr-3884	216	4	sign	sign	NOUN
fsr-3884	216	5	is	be	AUX
fsr-3884	216	6	positive	positive	ADJ
fsr-3884	216	7	,	,	PUNCT
fsr-3884	216	8	that	that	PRON
fsr-3884	216	9	is	be	AUX
fsr-3884	216	10	unexpected	unexpected	ADJ
fsr-3884	216	11	.	.	PUNCT
fsr-3884	217	1	one	one	NUM
fsr-3884	217	2	possible	possible	ADJ
fsr-3884	217	3	explanation	explanation	NOUN
fsr-3884	217	4	stems	stem	VERB
fsr-3884	217	5	from	from	ADP
fsr-3884	217	6	the	the	DET
fsr-3884	217	7	casual	casual	ADJ
fsr-3884	217	8	observation	observation	NOUN
fsr-3884	217	9	that	that	SCONJ
fsr-3884	217	10	firms	firm	NOUN
fsr-3884	217	11	tend	tend	VERB
fsr-3884	217	12	to	to	PART
fsr-3884	217	13	make	make	VERB
fsr-3884	217	14	dividend	dividend	NOUN
fsr-3884	217	15	changes	change	NOUN
fsr-3884	217	16	immediately	immediately	ADV
fsr-3884	217	17	after	after	ADP
fsr-3884	217	18	or	or	CCONJ
fsr-3884	217	19	concurrent	concurrent	ADJ
fsr-3884	217	20	with	with	ADP
fsr-3884	217	21	announcements	announcement	NOUN
fsr-3884	217	22	of	of	ADP
fsr-3884	217	23	fourth	fourth	ADJ
fsr-3884	217	24	quarter	quarter	NOUN
fsr-3884	217	25	earnings	earning	NOUN
fsr-3884	217	26	results	result	NOUN
fsr-3884	217	27	.	.	PUNCT
fsr-3884	218	1	typically	typically	ADV
fsr-3884	218	2	,	,	PUNCT
fsr-3884	218	3	fourth	fourth	ADJ
fsr-3884	218	4	quarterinduced	quarterinduced	ADJ
fsr-3884	218	5	changes	change	NOUN
fsr-3884	218	6	ought	ought	AUX
fsr-3884	218	7	to	to	PART
fsr-3884	218	8	be	be	AUX
fsr-3884	218	9	reflected	reflect	VERB
fsr-3884	218	10	in	in	ADP
fsr-3884	218	11	dividends	dividend	NOUN
fsr-3884	218	12	that	that	PRON
fsr-3884	218	13	are	be	AUX
fsr-3884	218	14	actually	actually	ADV
fsr-3884	218	15	paid	pay	VERB
fsr-3884	218	16	in	in	ADP
fsr-3884	218	17	the	the	DET
fsr-3884	218	18	first	first	ADJ
fsr-3884	218	19	fiscal	fiscal	ADJ
fsr-3884	218	20	quarter	quarter	NOUN
fsr-3884	218	21	.	.	PUNCT
fsr-3884	219	1	an	an	DET
fsr-3884	219	2	examination	examination	NOUN
fsr-3884	219	3	of	of	ADP
fsr-3884	219	4	compustat	compustat	NOUN
fsr-3884	219	5	quarterly	quarterly	ADJ
fsr-3884	219	6	dividend	dividend	NOUN
fsr-3884	219	7	data	datum	NOUN
fsr-3884	219	8	from	from	ADP
fsr-3884	219	9	1983	1983	NUM
fsr-3884	219	10	through	through	ADP
fsr-3884	219	11	1992	1992	NUM
fsr-3884	219	12	strongly	strongly	ADV
fsr-3884	219	13	confirms	confirm	VERB
fsr-3884	219	14	this	this	DET
fsr-3884	219	15	suspicion	suspicion	NOUN
fsr-3884	219	16	.	.	PUNCT
fsr-3884	220	1	in	in	ADP
fsr-3884	220	2	the	the	DET
fsr-3884	220	3	1983	1983	NUM
fsr-3884	220	4	through	through	ADP
fsr-3884	220	5	1992	1992	NUM
fsr-3884	220	6	period	period	NOUN
fsr-3884	220	7	there	there	PRON
fsr-3884	220	8	are	be	VERB
fsr-3884	220	9	291,281	291,281	NUM
fsr-3884	220	10	quarterly	quarterly	ADJ
fsr-3884	220	11	dividend	dividend	NOUN
fsr-3884	220	12	changes	change	NOUN
fsr-3884	220	13	(	(	PUNCT
fsr-3884	220	14	initiations	initiation	NOUN
fsr-3884	220	15	,	,	PUNCT
fsr-3884	220	16	omissions	omission	NOUN
fsr-3884	220	17	,	,	PUNCT
fsr-3884	220	18	increases	increase	NOUN
fsr-3884	220	19	,	,	PUNCT
fsr-3884	220	20	and	and	CCONJ
fsr-3884	220	21	decreases	decrease	VERB
fsr-3884	220	22	)	)	PUNCT
fsr-3884	220	23	among	among	ADP
fsr-3884	220	24	compustat	compustat	NOUN
fsr-3884	220	25	’s	’s	PART
fsr-3884	220	26	active	active	ADJ
fsr-3884	220	27	firms	firm	NOUN
fsr-3884	220	28	.	.	PUNCT
fsr-3884	221	1	relative	relative	ADJ
fsr-3884	221	2	to	to	ADP
fsr-3884	221	3	the	the	DET
fsr-3884	221	4	previous	previous	ADJ
fsr-3884	221	5	fourth	fourth	ADJ
fsr-3884	221	6	quarter	quarter	NOUN
fsr-3884	221	7	’s	’s	PART
fsr-3884	221	8	dollar	dollar	NOUN
fsr-3884	221	9	payout	payout	NOUN
fsr-3884	221	10	,	,	PUNCT
fsr-3884	221	11	dividends	dividend	NOUN
fsr-3884	221	12	changed	change	VERB
fsr-3884	221	13	for	for	ADP
fsr-3884	221	14	14.6	14.6	NUM
fsr-3884	221	15	%	%	NOUN
fsr-3884	221	16	of	of	ADP
fsr-3884	221	17	firms	firm	NOUN
fsr-3884	221	18	in	in	ADP
fsr-3884	221	19	fiscal	fiscal	ADJ
fsr-3884	221	20	first	first	ADJ
fsr-3884	221	21	quarters	quarter	NOUN
fsr-3884	221	22	.	.	PUNCT
fsr-3884	222	1	on	on	ADP
fsr-3884	222	2	average	average	ADJ
fsr-3884	222	3	,	,	PUNCT
fsr-3884	222	4	12.2	12.2	NUM
fsr-3884	222	5	%	%	NOUN
fsr-3884	222	6	of	of	ADP
fsr-3884	222	7	firms	firm	NOUN
fsr-3884	222	8	changed	change	VERB
fsr-3884	222	9	their	their	PRON
fsr-3884	222	10	payments	payment	NOUN
fsr-3884	222	11	during	during	ADP
fsr-3884	222	12	each	each	PRON
fsr-3884	222	13	of	of	ADP
fsr-3884	222	14	the	the	DET
fsr-3884	222	15	other	other	ADJ
fsr-3884	222	16	fiscal	fiscal	ADJ
fsr-3884	222	17	quarters	quarter	NOUN
fsr-3884	222	18	.	.	PUNCT
fsr-3884	223	1	the	the	DET
fsr-3884	223	2	wilcoxon	wilcoxon	PROPN
fsr-3884	223	3	rank	rank	PROPN
fsr-3884	223	4	sum	sum	PROPN
fsr-3884	223	5	statistic	statistic	PROPN
fsr-3884	223	6	shows	show	VERB
fsr-3884	223	7	the	the	DET
fsr-3884	223	8	two	two	NUM
fsr-3884	223	9	percentages	percentage	NOUN
fsr-3884	223	10	to	to	PART
fsr-3884	223	11	be	be	AUX
fsr-3884	223	12	significantly	significantly	ADV
fsr-3884	223	13	different	different	ADJ
fsr-3884	223	14	at	at	ADP
fsr-3884	223	15	the	the	DET
fsr-3884	223	16	.01	.01	NUM
fsr-3884	223	17	level	level	NOUN
fsr-3884	223	18	(	(	PUNCT
fsr-3884	223	19	one	one	NUM
fsr-3884	223	20	-	-	PUNCT
fsr-3884	223	21	tailed	tail	VERB
fsr-3884	223	22	test	test	NOUN
fsr-3884	223	23	)	)	PUNCT
fsr-3884	223	24	.	.	PUNCT
fsr-3884	224	1	with	with	ADP
fsr-3884	224	2	dividend	dividend	NOUN
fsr-3884	224	3	changes	change	NOUN
fsr-3884	224	4	being	be	AUX
fsr-3884	224	5	most	most	ADV
fsr-3884	224	6	likely	likely	ADJ
fsr-3884	224	7	to	to	PART
fsr-3884	224	8	follow	follow	VERB
fsr-3884	224	9	fourth	fourth	ADJ
fsr-3884	224	10	quarter	quarter	NOUN
fsr-3884	224	11	earnings	earning	NOUN
fsr-3884	224	12	realizations	realization	NOUN
fsr-3884	224	13	,	,	PUNCT
fsr-3884	224	14	it	it	PRON
fsr-3884	224	15	is	be	AUX
fsr-3884	224	16	not	not	PART
fsr-3884	224	17	surprising	surprising	ADJ
fsr-3884	224	18	to	to	PART
fsr-3884	224	19	find	find	VERB
fsr-3884	224	20	that	that	SCONJ
fsr-3884	224	21	the	the	DET
fsr-3884	224	22	prices	price	NOUN
fsr-3884	224	23	of	of	ADP
fsr-3884	224	24	primes	prime	NOUN
fsr-3884	224	25	are	be	AUX
fsr-3884	224	26	affected	affect	VERB
fsr-3884	224	27	disproportionately	disproportionately	ADV
fsr-3884	224	28	when	when	SCONJ
fsr-3884	224	29	year	year	NOUN
fsr-3884	224	30	-	-	PUNCT
fsr-3884	224	31	end	end	NOUN
fsr-3884	224	32	earnings	earning	NOUN
fsr-3884	224	33	are	be	AUX
fsr-3884	224	34	announced	announce	VERB
fsr-3884	224	35	.	.	PUNCT
fsr-3884	225	1	5	5	X
fsr-3884	225	2	.	.	X
fsr-3884	225	3	conclusions	conclusion	NOUN
fsr-3884	225	4	americus	americus	PROPN
fsr-3884	225	5	trust	trust	PROPN
fsr-3884	225	6	primes	prime	NOUN
fsr-3884	225	7	and	and	CCONJ
fsr-3884	225	8	scores	score	NOUN
fsr-3884	225	9	represent	represent	VERB
fsr-3884	225	10	unique	unique	ADJ
fsr-3884	225	11	vehicles	vehicle	NOUN
fsr-3884	225	12	by	by	ADP
fsr-3884	225	13	which	which	PRON
fsr-3884	225	14	to	to	PART
fsr-3884	225	15	view	view	VERB
fsr-3884	225	16	the	the	DET
fsr-3884	225	17	components	component	NOUN
fsr-3884	225	18	of	of	ADP
fsr-3884	225	19	return	return	NOUN
fsr-3884	225	20	.	.	PUNCT
fsr-3884	226	1	this	this	DET
fsr-3884	226	2	study	study	NOUN
fsr-3884	226	3	provides	provide	VERB
fsr-3884	226	4	new	new	ADJ
fsr-3884	226	5	insight	insight	NOUN
fsr-3884	226	6	into	into	ADP
fsr-3884	226	7	the	the	DET
fsr-3884	226	8	market	market	NOUN
fsr-3884	226	9	’s	’s	PART
fsr-3884	226	10	allocation	allocation	NOUN
fsr-3884	226	11	of	of	ADP
fsr-3884	226	12	table	table	NOUN
fsr-3884	226	13	4	4	NUM
fsr-3884	226	14	analysis	analysis	NOUN
fsr-3884	226	15	of	of	ADP
fsr-3884	226	16	adjusted	adjusted	ADJ
fsr-3884	226	17	cumulative	cumulative	ADJ
fsr-3884	226	18	abnormal	abnormal	ADJ
fsr-3884	226	19	returnsa	returnsa	NOUN
fsr-3884	226	20	intercept	intercept	NOUN
fsr-3884	226	21	ttexp	ttexp	NOUN
fsr-3884	226	22	money	money	NOUN
fsr-3884	226	23	qtr4	qtr4	PROPN
fsr-3884	226	24	surprise	surprise	NOUN
fsr-3884	226	25	f	f	PROPN
fsr-3884	226	26	adj	adj	PROPN
fsr-3884	226	27	-	-	PUNCT
fsr-3884	226	28	r2	r2	PROPN
fsr-3884	226	29	panel	panel	NOUN
fsr-3884	226	30	a	a	DET
fsr-3884	226	31	:	:	PUNCT
fsr-3884	226	32	foster	foster	PROPN
fsr-3884	226	33	’s	’s	PART
fsr-3884	226	34	model	model	NOUN
fsr-3884	226	35	surprises	surprise	VERB
fsr-3884	226	36	dependent	dependent	ADJ
fsr-3884	226	37	variable	variable	NOUN
fsr-3884	226	38	:	:	PUNCT
fsr-3884	226	39	ratiom	ratiom	VERB
fsr-3884	226	40	22.2064	22.2064	NUM
fsr-3884	226	41	0.5834	0.5834	NUM
fsr-3884	226	42	1.1841	1.1841	NUM
fsr-3884	226	43	1.7700	1.7700	NUM
fsr-3884	226	44	20.9278	20.9278	NUM
fsr-3884	226	45	0.92	0.92	NUM
fsr-3884	226	46	0.00	0.00	NUM
fsr-3884	226	47	(	(	PUNCT
fsr-3884	226	48	21.48	21.48	NUM
fsr-3884	226	49	)	)	PUNCT
fsr-3884	226	50	(	(	PUNCT
fsr-3884	226	51	1.07	1.07	NUM
fsr-3884	226	52	)	)	PUNCT
fsr-3884	226	53	(	(	PUNCT
fsr-3884	226	54	0.89	0.89	NUM
fsr-3884	226	55	)	)	PUNCT
fsr-3884	226	56	(	(	PUNCT
fsr-3884	226	57	1.57	1.57	NUM
fsr-3884	226	58	)	)	PUNCT
fsr-3884	226	59	(	(	PUNCT
fsr-3884	226	60	20.67	20.67	NUM
fsr-3884	226	61	)	)	PUNCT
fsr-3884	226	62	dependent	dependent	ADJ
fsr-3884	226	63	variable	variable	NOUN
fsr-3884	226	64	:	:	PUNCT
fsr-3884	226	65	ratioc	ratioc	NOUN
fsr-3884	226	66	20.7945	20.7945	NUM
fsr-3884	226	67	0.1976	0.1976	NUM
fsr-3884	226	68	0.2844	0.2844	NUM
fsr-3884	226	69	1.4648	1.4648	NUM
fsr-3884	226	70	20.8139	20.8139	NUM
fsr-3884	226	71	1.56	1.56	NUM
fsr-3884	226	72	0.02	0.02	NUM
fsr-3884	226	73	(	(	PUNCT
fsr-3884	226	74	20.95	20.95	NUM
fsr-3884	226	75	)	)	PUNCT
fsr-3884	226	76	(	(	PUNCT
fsr-3884	226	77	0.648	0.648	NUM
fsr-3884	226	78	)	)	PUNCT
fsr-3884	226	79	(	(	PUNCT
fsr-3884	226	80	0.382	0.382	NUM
fsr-3884	226	81	)	)	PUNCT
fsr-3884	226	82	(	(	PUNCT
fsr-3884	226	83	2.323	2.323	NUM
fsr-3884	226	84	)	)	PUNCT
fsr-3884	226	85	*	*	PUNCT
fsr-3884	226	86	(	(	PUNCT
fsr-3884	226	87	21.044	21.044	NUM
fsr-3884	226	88	)	)	PUNCT
fsr-3884	226	89	panel	panel	NOUN
fsr-3884	226	90	b	b	NOUN
fsr-3884	226	91	:	:	PUNCT
fsr-3884	226	92	naive	naive	ADJ
fsr-3884	226	93	model	model	NOUN
fsr-3884	226	94	surprises	surprise	VERB
fsr-3884	226	95	dependent	dependent	ADJ
fsr-3884	226	96	variable	variable	NOUN
fsr-3884	226	97	:	:	PUNCT
fsr-3884	226	98	ratiom	ratiom	VERB
fsr-3884	226	99	22.3284	22.3284	NUM
fsr-3884	227	1	0.6411	0.6411	NUM
fsr-3884	227	2	1.2922	1.2922	NUM
fsr-3884	227	3	1.6537	1.6537	NUM
fsr-3884	227	4	20.7333	20.7333	NUM
fsr-3884	227	5	0.89	0.89	NUM
fsr-3884	227	6	0.00	0.00	NUM
fsr-3884	227	7	(	(	PUNCT
fsr-3884	227	8	21.50	21.50	NUM
fsr-3884	227	9	)	)	PUNCT
fsr-3884	227	10	(	(	PUNCT
fsr-3884	227	11	1.08	1.08	NUM
fsr-3884	227	12	)	)	PUNCT
fsr-3884	227	13	(	(	PUNCT
fsr-3884	227	14	0.95	0.95	NUM
fsr-3884	227	15	)	)	PUNCT
fsr-3884	227	16	(	(	PUNCT
fsr-3884	227	17	1.47	1.47	NUM
fsr-3884	227	18	)	)	PUNCT
fsr-3884	227	19	(	(	PUNCT
fsr-3884	227	20	20.55	20.55	NUM
fsr-3884	227	21	)	)	PUNCT
fsr-3884	227	22	dependent	dependent	ADJ
fsr-3884	227	23	variable	variable	NOUN
fsr-3884	227	24	:	:	PUNCT
fsr-3884	227	25	ratioc	ratioc	NOUN
fsr-3884	227	26	20.9144	20.9144	NUM
fsr-3884	227	27	0.2561	0.2561	NUM
fsr-3884	227	28	0.3884	0.3884	NUM
fsr-3884	228	1	1.3597	1.3597	NUM
fsr-3884	228	2	20.6817	20.6817	NUM
fsr-3884	228	3	1.49	1.49	NUM
fsr-3884	228	4	0.0197	0.0197	NUM
fsr-3884	228	5	(	(	PUNCT
fsr-3884	228	6	21.05	21.05	NUM
fsr-3884	228	7	)	)	PUNCT
fsr-3884	228	8	(	(	PUNCT
fsr-3884	228	9	0.769	0.769	NUM
fsr-3884	228	10	)	)	PUNCT
fsr-3884	228	11	(	(	PUNCT
fsr-3884	228	12	0.508	0.508	NUM
fsr-3884	228	13	)	)	PUNCT
fsr-3884	228	14	(	(	PUNCT
fsr-3884	228	15	2.151	2.151	NUM
fsr-3884	228	16	)	)	PUNCT
fsr-3884	228	17	*	*	PUNCT
fsr-3884	228	18	(	(	PUNCT
fsr-3884	228	19	2.907	2.907	NUM
fsr-3884	228	20	)	)	PUNCT
fsr-3884	228	21	a	a	DET
fsr-3884	228	22	the	the	DET
fsr-3884	228	23	dependent	dependent	ADJ
fsr-3884	228	24	variable	variable	NOUN
fsr-3884	228	25	in	in	ADP
fsr-3884	228	26	each	each	PRON
fsr-3884	228	27	of	of	ADP
fsr-3884	228	28	the	the	DET
fsr-3884	228	29	following	follow	VERB
fsr-3884	228	30	regressions	regression	NOUN
fsr-3884	228	31	is	be	AUX
fsr-3884	228	32	the	the	DET
fsr-3884	228	33	ratio	ratio	NOUN
fsr-3884	228	34	of	of	ADP
fsr-3884	228	35	proportional	proportional	ADJ
fsr-3884	228	36	abnormal	abnormal	ADJ
fsr-3884	228	37	returns	return	NOUN
fsr-3884	228	38	associated	associate	VERB
fsr-3884	228	39	with	with	ADP
fsr-3884	228	40	americus	americus	PROPN
fsr-3884	228	41	trust	trust	PROPN
fsr-3884	228	42	primes	prime	NOUN
fsr-3884	228	43	and	and	CCONJ
fsr-3884	228	44	the	the	DET
fsr-3884	228	45	proportional	proportional	ADJ
fsr-3884	228	46	returns	return	NOUN
fsr-3884	228	47	for	for	ADP
fsr-3884	228	48	scores	score	NOUN
fsr-3884	228	49	.	.	PUNCT
fsr-3884	229	1	ratiom	ratiom	PROPN
fsr-3884	229	2	is	be	AUX
fsr-3884	229	3	for	for	ADP
fsr-3884	229	4	market	market	NOUN
fsr-3884	229	5	-	-	PUNCT
fsr-3884	229	6	adjusted	adjust	VERB
fsr-3884	229	7	returns	return	NOUN
fsr-3884	229	8	and	and	CCONJ
fsr-3884	229	9	ratioc	ratioc	NOUN
fsr-3884	229	10	is	be	AUX
fsr-3884	229	11	for	for	ADP
fsr-3884	229	12	comparison	comparison	NOUN
fsr-3884	229	13	period	period	NOUN
fsr-3884	229	14	abnormal	abnormal	ADJ
fsr-3884	229	15	returns	return	NOUN
fsr-3884	229	16	.	.	PUNCT
fsr-3884	230	1	ttexp	ttexp	PROPN
fsr-3884	230	2	is	be	AUX
fsr-3884	230	3	the	the	DET
fsr-3884	230	4	time	time	NOUN
fsr-3884	230	5	to	to	ADP
fsr-3884	230	6	expiration	expiration	NOUN
fsr-3884	230	7	of	of	ADP
fsr-3884	230	8	each	each	DET
fsr-3884	230	9	trust	trust	NOUN
fsr-3884	230	10	(	(	PUNCT
fsr-3884	230	11	in	in	ADP
fsr-3884	230	12	years	year	NOUN
fsr-3884	230	13	)	)	PUNCT
fsr-3884	230	14	;	;	PUNCT
fsr-3884	230	15	money	money	NOUN
fsr-3884	230	16	is	be	AUX
fsr-3884	230	17	the	the	DET
fsr-3884	230	18	degree	degree	NOUN
fsr-3884	230	19	to	to	PART
fsr-3884	230	20	which	which	PRON
fsr-3884	230	21	each	each	DET
fsr-3884	230	22	firm	firm	NOUN
fsr-3884	230	23	’s	’s	PART
fsr-3884	230	24	stock	stock	NOUN
fsr-3884	230	25	price	price	NOUN
fsr-3884	230	26	exceeds	exceed	VERB
fsr-3884	230	27	the	the	DET
fsr-3884	230	28	trust	trust	NOUN
fsr-3884	230	29	’s	’s	PART
fsr-3884	230	30	termination	termination	NOUN
fsr-3884	230	31	value	value	NOUN
fsr-3884	230	32	(	(	PUNCT
fsr-3884	230	33	in	in	ADP
fsr-3884	230	34	percent	percent	NOUN
fsr-3884	230	35	)	)	PUNCT
fsr-3884	230	36	;	;	PUNCT
fsr-3884	230	37	qtr4	qtr4	PROPN
fsr-3884	230	38	is	be	AUX
fsr-3884	230	39	a	a	DET
fsr-3884	230	40	dummy	dummy	ADJ
fsr-3884	230	41	variable	variable	NOUN
fsr-3884	230	42	taking	take	VERB
fsr-3884	230	43	on	on	ADP
fsr-3884	230	44	a	a	DET
fsr-3884	230	45	value	value	NOUN
fsr-3884	230	46	of	of	ADP
fsr-3884	230	47	1	1	NUM
fsr-3884	230	48	if	if	SCONJ
fsr-3884	230	49	the	the	DET
fsr-3884	230	50	earnings	earning	NOUN
fsr-3884	230	51	result	result	NOUN
fsr-3884	230	52	is	be	AUX
fsr-3884	230	53	from	from	ADP
fsr-3884	230	54	the	the	DET
fsr-3884	230	55	fiscal	fiscal	ADJ
fsr-3884	230	56	fourth	fourth	ADJ
fsr-3884	230	57	quarter	quarter	NOUN
fsr-3884	230	58	and	and	CCONJ
fsr-3884	230	59	0	0	NUM
fsr-3884	230	60	otherwise	otherwise	ADV
fsr-3884	230	61	;	;	PUNCT
fsr-3884	230	62	surprise	surprise	NOUN
fsr-3884	230	63	is	be	AUX
fsr-3884	230	64	the	the	DET
fsr-3884	230	65	magnitude	magnitude	NOUN
fsr-3884	230	66	of	of	ADP
fsr-3884	230	67	the	the	DET
fsr-3884	230	68	positive	positive	ADJ
fsr-3884	230	69	or	or	CCONJ
fsr-3884	230	70	negative	negative	ADJ
fsr-3884	230	71	earnings	earning	NOUN
fsr-3884	230	72	surprise	surprise	NOUN
fsr-3884	230	73	relative	relative	ADJ
fsr-3884	230	74	to	to	ADP
fsr-3884	230	75	the	the	DET
fsr-3884	230	76	value	value	NOUN
fsr-3884	230	77	predicted	predict	VERB
fsr-3884	230	78	by	by	ADP
fsr-3884	230	79	foster	foster	PROPN
fsr-3884	230	80	’s	’s	PART
fsr-3884	230	81	[	[	X
fsr-3884	230	82	13	13	NUM
fsr-3884	230	83	]	]	PUNCT
fsr-3884	230	84	model	model	NOUN
fsr-3884	230	85	or	or	CCONJ
fsr-3884	230	86	a	a	DET
fsr-3884	230	87	naive	naive	ADJ
fsr-3884	230	88	model	model	NOUN
fsr-3884	230	89	.	.	PUNCT
fsr-3884	231	1	below	below	ADP
fsr-3884	231	2	each	each	DET
fsr-3884	231	3	parameter	parameter	NOUN
fsr-3884	231	4	estimate	estimate	NOUN
fsr-3884	231	5	,	,	PUNCT
fsr-3884	231	6	the	the	DET
fsr-3884	231	7	t	t	NOUN
fsr-3884	231	8	-	-	PUNCT
fsr-3884	231	9	statistic	statistic	NOUN
fsr-3884	231	10	is	be	AUX
fsr-3884	231	11	given	give	VERB
fsr-3884	231	12	in	in	ADP
fsr-3884	231	13	parentheses	parenthesis	NOUN
fsr-3884	231	14	.	.	PUNCT
fsr-3884	232	1	*	*	PUNCT
fsr-3884	232	2	statistically	statistically	ADV
fsr-3884	232	3	significant	significant	ADJ
fsr-3884	232	4	at	at	ADP
fsr-3884	232	5	the	the	DET
fsr-3884	232	6	.05	.05	NUM
fsr-3884	232	7	level	level	NOUN
fsr-3884	232	8	.	.	PUNCT
fsr-3884	233	1	97j.a	97j.a	NUM
fsr-3884	233	2	.	.	PUNCT
fsr-3884	234	1	macdonald	macdonald	PROPN
fsr-3884	234	2	,	,	PUNCT
fsr-3884	234	3	d.m	d.m	PROPN
fsr-3884	234	4	.	.	PUNCT
fsr-3884	234	5	smith	smith	PROPN
fsr-3884	234	6	/	/	SYM
fsr-3884	234	7	financial	financial	ADJ
fsr-3884	234	8	services	service	NOUN
fsr-3884	234	9	review	review	VERB
fsr-3884	234	10	8	8	NUM
fsr-3884	234	11	(	(	PUNCT
fsr-3884	234	12	1999	1999	NUM
fsr-3884	234	13	)	)	PUNCT
fsr-3884	234	14	87–99	87–99	NUM
fsr-3884	234	15	dividend	dividend	NOUN
fsr-3884	234	16	-	-	PUNCT
fsr-3884	234	17	related	relate	VERB
fsr-3884	234	18	and	and	CCONJ
fsr-3884	234	19	capital	capital	NOUN
fsr-3884	234	20	gains	gain	NOUN
fsr-3884	234	21	-	-	PUNCT
fsr-3884	234	22	based	base	VERB
fsr-3884	234	23	returns	return	NOUN
fsr-3884	234	24	on	on	ADP
fsr-3884	234	25	common	common	ADJ
fsr-3884	234	26	stock	stock	NOUN
fsr-3884	234	27	at	at	ADP
fsr-3884	234	28	the	the	DET
fsr-3884	234	29	arrival	arrival	NOUN
fsr-3884	234	30	of	of	ADP
fsr-3884	234	31	new	new	ADJ
fsr-3884	234	32	earnings	earning	NOUN
fsr-3884	234	33	information	information	NOUN
fsr-3884	234	34	.	.	PUNCT
fsr-3884	235	1	to	to	ADP
fsr-3884	235	2	the	the	DET
fsr-3884	235	3	extent	extent	NOUN
fsr-3884	235	4	that	that	SCONJ
fsr-3884	235	5	investors	investor	NOUN
fsr-3884	235	6	’	’	PART
fsr-3884	235	7	cash	cash	NOUN
fsr-3884	235	8	flow	flow	NOUN
fsr-3884	235	9	forecasts	forecast	NOUN
fsr-3884	235	10	are	be	AUX
fsr-3884	235	11	revised	revise	VERB
fsr-3884	235	12	as	as	SCONJ
fsr-3884	235	13	earnings	earning	NOUN
fsr-3884	235	14	surprises	surprise	NOUN
fsr-3884	235	15	occur	occur	VERB
fsr-3884	235	16	,	,	PUNCT
fsr-3884	235	17	americus	americus	PROPN
fsr-3884	235	18	trust	trust	PROPN
fsr-3884	235	19	prime	prime	NOUN
fsr-3884	235	20	and	and	CCONJ
fsr-3884	235	21	score	score	NOUN
fsr-3884	235	22	returns	return	NOUN
fsr-3884	235	23	reflect	reflect	VERB
fsr-3884	235	24	changes	change	NOUN
fsr-3884	235	25	in	in	ADP
fsr-3884	235	26	respective	respective	ADJ
fsr-3884	235	27	future	future	ADJ
fsr-3884	235	28	dividends	dividend	NOUN
fsr-3884	235	29	and	and	CCONJ
fsr-3884	235	30	capital	capital	NOUN
fsr-3884	235	31	gains	gain	NOUN
fsr-3884	235	32	.	.	PUNCT
fsr-3884	236	1	cumulative	cumulative	ADJ
fsr-3884	236	2	abnormal	abnormal	ADJ
fsr-3884	236	3	returns	return	NOUN
fsr-3884	236	4	to	to	ADP
fsr-3884	236	5	both	both	DET
fsr-3884	236	6	primes	prime	NOUN
fsr-3884	236	7	and	and	CCONJ
fsr-3884	236	8	scores	score	NOUN
fsr-3884	236	9	are	be	AUX
fsr-3884	236	10	found	find	VERB
fsr-3884	236	11	to	to	PART
fsr-3884	236	12	be	be	AUX
fsr-3884	236	13	positive	positive	ADJ
fsr-3884	236	14	around	around	ADP
fsr-3884	236	15	positive	positive	ADJ
fsr-3884	236	16	earnings	earning	NOUN
fsr-3884	236	17	surprises	surprise	NOUN
fsr-3884	236	18	,	,	PUNCT
fsr-3884	236	19	though	though	SCONJ
fsr-3884	236	20	no	no	DET
fsr-3884	236	21	significant	significant	ADJ
fsr-3884	236	22	reaction	reaction	NOUN
fsr-3884	236	23	is	be	AUX
fsr-3884	236	24	detected	detect	VERB
fsr-3884	236	25	around	around	ADP
fsr-3884	236	26	negative	negative	ADJ
fsr-3884	236	27	earnings	earning	NOUN
fsr-3884	236	28	events	event	NOUN
fsr-3884	236	29	.	.	PUNCT
fsr-3884	237	1	it	it	PRON
fsr-3884	237	2	seems	seem	VERB
fsr-3884	237	3	,	,	PUNCT
fsr-3884	237	4	then	then	ADV
fsr-3884	237	5	,	,	PUNCT
fsr-3884	237	6	that	that	SCONJ
fsr-3884	237	7	investors	investor	NOUN
fsr-3884	237	8	adjust	adjust	VERB
fsr-3884	237	9	their	their	PRON
fsr-3884	237	10	expectations	expectation	NOUN
fsr-3884	237	11	of	of	ADP
fsr-3884	237	12	both	both	PRON
fsr-3884	237	13	current	current	ADJ
fsr-3884	237	14	payout	payout	NOUN
fsr-3884	237	15	and	and	CCONJ
fsr-3884	237	16	capital	capital	NOUN
fsr-3884	237	17	gains	gain	NOUN
fsr-3884	237	18	when	when	SCONJ
fsr-3884	237	19	there	there	PRON
fsr-3884	237	20	is	be	VERB
fsr-3884	237	21	good	good	ADJ
fsr-3884	237	22	news	news	NOUN
fsr-3884	237	23	.	.	PUNCT
fsr-3884	238	1	for	for	ADP
fsr-3884	238	2	the	the	DET
fsr-3884	238	3	large	large	ADJ
fsr-3884	238	4	capitalization	capitalization	NOUN
fsr-3884	238	5	firms	firm	NOUN
fsr-3884	238	6	in	in	ADP
fsr-3884	238	7	the	the	DET
fsr-3884	238	8	americus	americus	PROPN
fsr-3884	238	9	trust	trust	PROPN
fsr-3884	238	10	program	program	NOUN
fsr-3884	238	11	,	,	PUNCT
fsr-3884	238	12	about	about	ADV
fsr-3884	238	13	70	70	NUM
fsr-3884	238	14	%	%	NOUN
fsr-3884	238	15	of	of	ADP
fsr-3884	238	16	the	the	DET
fsr-3884	238	17	value	value	NOUN
fsr-3884	238	18	gain	gain	NOUN
fsr-3884	238	19	from	from	ADP
fsr-3884	238	20	the	the	DET
fsr-3884	238	21	surprise	surprise	NOUN
fsr-3884	238	22	accrues	accrue	VERB
fsr-3884	238	23	in	in	ADP
fsr-3884	238	24	the	the	DET
fsr-3884	238	25	capital	capital	NOUN
fsr-3884	238	26	gains	gain	NOUN
fsr-3884	238	27	(	(	PUNCT
fsr-3884	238	28	score	score	NOUN
fsr-3884	238	29	)	)	PUNCT
fsr-3884	238	30	value	value	NOUN
fsr-3884	238	31	adjustment	adjustment	NOUN
fsr-3884	238	32	;	;	PUNCT
fsr-3884	238	33	with	with	ADP
fsr-3884	238	34	expected	expect	VERB
fsr-3884	238	35	dividends	dividend	NOUN
fsr-3884	238	36	(	(	PUNCT
fsr-3884	238	37	primes	prime	NOUN
fsr-3884	238	38	)	)	PUNCT
fsr-3884	238	39	reflecting	reflect	VERB
fsr-3884	238	40	the	the	DET
fsr-3884	238	41	remaining	remain	VERB
fsr-3884	238	42	30	30	NUM
fsr-3884	238	43	%	%	NOUN
fsr-3884	238	44	.	.	PUNCT
fsr-3884	239	1	these	these	DET
fsr-3884	239	2	relative	relative	ADJ
fsr-3884	239	3	proportions	proportion	NOUN
fsr-3884	239	4	are	be	AUX
fsr-3884	239	5	found	find	VERB
fsr-3884	239	6	to	to	PART
fsr-3884	239	7	be	be	AUX
fsr-3884	239	8	robust	robust	ADJ
fsr-3884	239	9	across	across	ADP
fsr-3884	239	10	multiple	multiple	ADJ
fsr-3884	239	11	earnings	earning	NOUN
fsr-3884	239	12	estimation	estimation	NOUN
fsr-3884	239	13	models	model	NOUN
fsr-3884	239	14	,	,	PUNCT
fsr-3884	239	15	over	over	ADP
fsr-3884	239	16	time	time	NOUN
fsr-3884	239	17	,	,	PUNCT
fsr-3884	239	18	and	and	CCONJ
fsr-3884	239	19	across	across	ADP
fsr-3884	239	20	score	score	NOUN
fsr-3884	239	21	ator	ator	NOUN
fsr-3884	239	22	in	in	ADP
fsr-3884	239	23	-	-	PUNCT
fsr-3884	239	24	the	the	DET
fsr-3884	239	25	-	-	PUNCT
fsr-3884	239	26	moneyness	moneyness	NOUN
fsr-3884	239	27	levels	level	NOUN
fsr-3884	239	28	.	.	PUNCT
fsr-3884	240	1	this	this	PRON
fsr-3884	240	2	is	be	AUX
fsr-3884	240	3	in	in	ADP
fsr-3884	240	4	line	line	NOUN
fsr-3884	240	5	with	with	ADP
fsr-3884	240	6	canina	canina	PROPN
fsr-3884	240	7	(	(	PUNCT
fsr-3884	240	8	1999	1999	NUM
fsr-3884	240	9	)	)	PUNCT
fsr-3884	240	10	,	,	PUNCT
fsr-3884	240	11	although	although	SCONJ
fsr-3884	240	12	her	she	PRON
fsr-3884	240	13	implied	imply	VERB
fsr-3884	240	14	61.8	61.8	NUM
fsr-3884	240	15	%	%	NOUN
fsr-3884	240	16	impact	impact	NOUN
fsr-3884	240	17	to	to	ADP
fsr-3884	240	18	the	the	DET
fsr-3884	240	19	long	long	ADJ
fsr-3884	240	20	term	term	NOUN
fsr-3884	240	21	valuation	valuation	NOUN
fsr-3884	240	22	for	for	ADP
fsr-3884	240	23	dividend	dividend	NOUN
fsr-3884	240	24	announcements	announcement	NOUN
fsr-3884	240	25	does	do	AUX
fsr-3884	240	26	not	not	PART
fsr-3884	240	27	control	control	VERB
fsr-3884	240	28	for	for	ADP
fsr-3884	240	29	announcement	announcement	NOUN
fsr-3884	240	30	quarter	quarter	NOUN
fsr-3884	240	31	timing	timing	NOUN
fsr-3884	240	32	or	or	CCONJ
fsr-3884	240	33	moneyness	moneyness	NOUN
fsr-3884	240	34	of	of	ADP
fsr-3884	240	35	the	the	DET
fsr-3884	240	36	scores	score	NOUN
fsr-3884	240	37	.	.	PUNCT
fsr-3884	241	1	recall	recall	VERB
fsr-3884	241	2	that	that	SCONJ
fsr-3884	241	3	the	the	DET
fsr-3884	241	4	ratio	ratio	NOUN
fsr-3884	241	5	of	of	ADP
fsr-3884	241	6	prime	prime	ADJ
fsr-3884	241	7	and	and	CCONJ
fsr-3884	241	8	score	score	NOUN
fsr-3884	241	9	returns	return	NOUN
fsr-3884	241	10	for	for	ADP
fsr-3884	241	11	fourth	fourth	ADJ
fsr-3884	241	12	quarter	quarter	NOUN
fsr-3884	241	13	earnings	earning	NOUN
fsr-3884	241	14	surprises	surprise	NOUN
fsr-3884	241	15	is	be	AUX
fsr-3884	241	16	significantly	significantly	ADV
fsr-3884	241	17	higher	high	ADJ
fsr-3884	241	18	than	than	ADP
fsr-3884	241	19	those	those	PRON
fsr-3884	241	20	in	in	ADP
fsr-3884	241	21	other	other	ADJ
fsr-3884	241	22	quarters	quarter	NOUN
fsr-3884	241	23	.	.	PUNCT
fsr-3884	242	1	this	this	DET
fsr-3884	242	2	study	study	NOUN
fsr-3884	242	3	’s	’s	PART
fsr-3884	242	4	results	result	NOUN
fsr-3884	242	5	contribute	contribute	VERB
fsr-3884	242	6	to	to	ADP
fsr-3884	242	7	the	the	DET
fsr-3884	242	8	corporate	corporate	ADJ
fsr-3884	242	9	earnings	earning	NOUN
fsr-3884	242	10	literature	literature	NOUN
fsr-3884	242	11	by	by	ADP
fsr-3884	242	12	showing	show	VERB
fsr-3884	242	13	the	the	DET
fsr-3884	242	14	precise	precise	ADJ
fsr-3884	242	15	nature	nature	NOUN
fsr-3884	242	16	of	of	ADP
fsr-3884	242	17	investors	investor	NOUN
fsr-3884	242	18	’	’	PART
fsr-3884	242	19	cash	cash	NOUN
fsr-3884	242	20	flow	flow	NOUN
fsr-3884	242	21	revisions	revision	NOUN
fsr-3884	242	22	around	around	ADP
fsr-3884	242	23	earnings	earning	NOUN
fsr-3884	242	24	surprise	surprise	NOUN
fsr-3884	242	25	announcements	announcement	NOUN
fsr-3884	242	26	.	.	PUNCT
fsr-3884	243	1	one	one	NUM
fsr-3884	243	2	limitation	limitation	NOUN
fsr-3884	243	3	is	be	AUX
fsr-3884	243	4	that	that	SCONJ
fsr-3884	243	5	the	the	DET
fsr-3884	243	6	findings	finding	NOUN
fsr-3884	243	7	may	may	AUX
fsr-3884	243	8	be	be	AUX
fsr-3884	243	9	less	less	ADV
fsr-3884	243	10	relevant	relevant	ADJ
fsr-3884	243	11	to	to	ADP
fsr-3884	243	12	smaller	small	ADJ
fsr-3884	243	13	growth	growth	NOUN
fsr-3884	243	14	firms	firm	NOUN
fsr-3884	243	15	,	,	PUNCT
fsr-3884	243	16	as	as	SCONJ
fsr-3884	243	17	the	the	DET
fsr-3884	243	18	present	present	ADJ
fsr-3884	243	19	sample	sample	NOUN
fsr-3884	243	20	necessarily	necessarily	ADV
fsr-3884	243	21	consists	consist	VERB
fsr-3884	243	22	of	of	ADP
fsr-3884	243	23	large	large	ADJ
fsr-3884	243	24	companies	company	NOUN
fsr-3884	243	25	.	.	PUNCT
fsr-3884	244	1	also	also	ADV
fsr-3884	244	2	,	,	PUNCT
fsr-3884	244	3	because	because	SCONJ
fsr-3884	244	4	it	it	PRON
fsr-3884	244	5	does	do	AUX
fsr-3884	244	6	not	not	PART
fsr-3884	244	7	represent	represent	VERB
fsr-3884	244	8	a	a	DET
fsr-3884	244	9	perfect	perfect	ADJ
fsr-3884	244	10	dividend	dividend	NOUN
fsr-3884	244	11	-	-	PUNCT
fsr-3884	244	12	related	relate	VERB
fsr-3884	244	13	return	return	NOUN
fsr-3884	244	14	,	,	PUNCT
fsr-3884	244	15	the	the	DET
fsr-3884	244	16	prime	prime	NOUN
fsr-3884	244	17	’s	’s	PART
fsr-3884	244	18	relative	relative	ADJ
fsr-3884	244	19	return	return	NOUN
fsr-3884	244	20	(	(	PUNCT
fsr-3884	244	21	30	30	NUM
fsr-3884	244	22	%	%	NOUN
fsr-3884	244	23	)	)	PUNCT
fsr-3884	244	24	should	should	AUX
fsr-3884	244	25	be	be	AUX
fsr-3884	244	26	viewed	view	VERB
fsr-3884	244	27	as	as	ADP
fsr-3884	244	28	anupper	anupper	ADJ
fsr-3884	244	29	bound	bind	VERB
fsr-3884	244	30	proportional	proportional	ADJ
fsr-3884	244	31	dividend	dividend	NOUN
fsr-3884	244	32	contribution	contribution	NOUN
fsr-3884	244	33	.	.	PUNCT
fsr-3884	245	1	still	still	ADV
fsr-3884	245	2	,	,	PUNCT
fsr-3884	245	3	the	the	DET
fsr-3884	245	4	results	result	NOUN
fsr-3884	245	5	for	for	ADP
fsr-3884	245	6	the	the	DET
fsr-3884	245	7	study	study	NOUN
fsr-3884	245	8	are	be	AUX
fsr-3884	245	9	remarkably	remarkably	ADV
fsr-3884	245	10	robust	robust	ADJ
fsr-3884	245	11	to	to	SCONJ
fsr-3884	245	12	methodology	methodology	NOUN
fsr-3884	245	13	used	use	VERB
fsr-3884	245	14	.	.	PUNCT
fsr-3884	246	1	research	research	NOUN
fsr-3884	246	2	such	such	ADJ
fsr-3884	246	3	as	as	ADP
fsr-3884	246	4	this	this	PRON
fsr-3884	246	5	can	can	AUX
fsr-3884	246	6	provide	provide	VERB
fsr-3884	246	7	designers	designer	NOUN
fsr-3884	246	8	of	of	ADP
fsr-3884	246	9	new	new	ADJ
fsr-3884	246	10	financial	financial	ADJ
fsr-3884	246	11	instruments	instrument	NOUN
fsr-3884	246	12	with	with	ADP
fsr-3884	246	13	a	a	DET
fsr-3884	246	14	better	well	ADJ
fsr-3884	246	15	understanding	understanding	NOUN
fsr-3884	246	16	of	of	ADP
fsr-3884	246	17	the	the	DET
fsr-3884	246	18	behavior	behavior	NOUN
fsr-3884	246	19	and	and	CCONJ
fsr-3884	246	20	relative	relative	ADJ
fsr-3884	246	21	pricing	pricing	NOUN
fsr-3884	246	22	characteristics	characteristic	NOUN
fsr-3884	246	23	of	of	ADP
fsr-3884	246	24	the	the	DET
fsr-3884	246	25	securities	security	NOUN
fsr-3884	246	26	being	be	AUX
fsr-3884	246	27	engineered	engineer	VERB
fsr-3884	246	28	.	.	PUNCT
fsr-3884	247	1	these	these	DET
fsr-3884	247	2	results	result	NOUN
fsr-3884	247	3	raise	raise	VERB
fsr-3884	247	4	interesting	interesting	ADJ
fsr-3884	247	5	implications	implication	NOUN
fsr-3884	247	6	for	for	ADP
fsr-3884	247	7	portfolio	portfolio	NOUN
fsr-3884	247	8	management	management	NOUN
fsr-3884	247	9	.	.	PUNCT
fsr-3884	248	1	for	for	ADP
fsr-3884	248	2	investors	investor	NOUN
fsr-3884	248	3	and	and	CCONJ
fsr-3884	248	4	financial	financial	ADJ
fsr-3884	248	5	planners	planner	NOUN
fsr-3884	248	6	,	,	PUNCT
fsr-3884	248	7	these	these	DET
fsr-3884	248	8	results	result	NOUN
fsr-3884	248	9	suggest	suggest	VERB
fsr-3884	248	10	that	that	SCONJ
fsr-3884	248	11	allocation	allocation	NOUN
fsr-3884	248	12	of	of	ADP
fsr-3884	248	13	investment	investment	NOUN
fsr-3884	248	14	dollars	dollar	NOUN
fsr-3884	248	15	to	to	ADP
fsr-3884	248	16	stocks	stock	NOUN
fsr-3884	248	17	may	may	AUX
fsr-3884	248	18	be	be	AUX
fsr-3884	248	19	best	well	ADV
fsr-3884	248	20	done	do	VERB
fsr-3884	248	21	by	by	ADP
fsr-3884	248	22	also	also	ADV
fsr-3884	248	23	considering	consider	VERB
fsr-3884	248	24	the	the	DET
fsr-3884	248	25	variance	variance	NOUN
fsr-3884	248	26	of	of	ADP
fsr-3884	248	27	forecast	forecast	NOUN
fsr-3884	248	28	error	error	NOUN
fsr-3884	248	29	.	.	PUNCT
fsr-3884	249	1	that	that	PRON
fsr-3884	249	2	is	be	AUX
fsr-3884	249	3	,	,	PUNCT
fsr-3884	249	4	firms	firm	NOUN
fsr-3884	249	5	that	that	PRON
fsr-3884	249	6	frequently	frequently	ADV
fsr-3884	249	7	have	have	VERB
fsr-3884	249	8	earnings	earning	NOUN
fsr-3884	249	9	surprises	surprise	NOUN
fsr-3884	249	10	,	,	PUNCT
fsr-3884	249	11	may	may	AUX
fsr-3884	249	12	better	well	ADV
fsr-3884	249	13	be	be	AUX
fsr-3884	249	14	represented	represent	VERB
fsr-3884	249	15	in	in	ADP
fsr-3884	249	16	the	the	DET
fsr-3884	249	17	portfolio	portfolio	NOUN
fsr-3884	249	18	around	around	ADP
fsr-3884	249	19	announcement	announcement	NOUN
fsr-3884	249	20	time	time	NOUN
fsr-3884	249	21	by	by	ADP
fsr-3884	249	22	derivatives	derivative	NOUN
fsr-3884	249	23	than	than	ADP
fsr-3884	249	24	the	the	DET
fsr-3884	249	25	stock	stock	NOUN
fsr-3884	249	26	itself	itself	PRON
fsr-3884	249	27	.	.	PUNCT
fsr-3884	250	1	this	this	PRON
fsr-3884	250	2	would	would	AUX
fsr-3884	250	3	be	be	AUX
fsr-3884	250	4	especially	especially	ADV
fsr-3884	250	5	true	true	ADJ
fsr-3884	250	6	in	in	ADP
fsr-3884	250	7	the	the	DET
fsr-3884	250	8	case	case	NOUN
fsr-3884	250	9	of	of	ADP
fsr-3884	250	10	building	building	NOUN
fsr-3884	250	11	or	or	CCONJ
fsr-3884	250	12	investing	invest	VERB
fsr-3884	250	13	in	in	ADP
fsr-3884	250	14	a	a	DET
fsr-3884	250	15	dual	dual	ADJ
fsr-3884	250	16	purpose	purpose	NOUN
fsr-3884	250	17	fund	fund	NOUN
fsr-3884	250	18	.	.	PUNCT
fsr-3884	251	1	also	also	ADV
fsr-3884	251	2	,	,	PUNCT
fsr-3884	251	3	these	these	DET
fsr-3884	251	4	findings	finding	NOUN
fsr-3884	251	5	suggest	suggest	VERB
fsr-3884	251	6	a	a	DET
fsr-3884	251	7	more	more	ADV
fsr-3884	251	8	efficient	efficient	ADJ
fsr-3884	251	9	strategy	strategy	NOUN
fsr-3884	251	10	in	in	ADP
fsr-3884	251	11	capturing	capture	VERB
fsr-3884	251	12	earnings	earning	NOUN
fsr-3884	251	13	announcement	announcement	NOUN
fsr-3884	251	14	surprises	surprise	NOUN
fsr-3884	251	15	may	may	AUX
fsr-3884	251	16	be	be	AUX
fsr-3884	251	17	through	through	ADP
fsr-3884	251	18	the	the	DET
fsr-3884	251	19	use	use	NOUN
fsr-3884	251	20	of	of	ADP
fsr-3884	251	21	leaps	leap	NOUN
fsr-3884	251	22	than	than	ADP
fsr-3884	251	23	listed	list	VERB
fsr-3884	251	24	short	short	ADJ
fsr-3884	251	25	-	-	PUNCT
fsr-3884	251	26	term	term	NOUN
fsr-3884	251	27	options	option	NOUN
fsr-3884	251	28	.	.	PUNCT
fsr-3884	252	1	examination	examination	NOUN
fsr-3884	252	2	of	of	ADP
fsr-3884	252	3	these	these	DET
fsr-3884	252	4	extensions	extension	NOUN
fsr-3884	252	5	is	be	AUX
fsr-3884	252	6	left	leave	VERB
fsr-3884	252	7	to	to	ADP
fsr-3884	252	8	future	future	ADJ
fsr-3884	252	9	research	research	NOUN
fsr-3884	252	10	.	.	PUNCT
fsr-3884	253	1	acknowledgments	acknowledgment	NOUN
fsr-3884	253	2	the	the	DET
fsr-3884	253	3	authors	author	NOUN
fsr-3884	253	4	wish	wish	VERB
fsr-3884	253	5	to	to	PART
fsr-3884	253	6	thank	thank	VERB
fsr-3884	253	7	the	the	DET
fsr-3884	253	8	editor	editor	NOUN
fsr-3884	253	9	,	,	PUNCT
fsr-3884	253	10	two	two	NUM
fsr-3884	253	11	anonymous	anonymous	ADJ
fsr-3884	253	12	reviewers	reviewer	NOUN
fsr-3884	253	13	and	and	CCONJ
fsr-3884	253	14	linda	linda	PROPN
fsr-3884	253	15	canina	canina	PROPN
fsr-3884	253	16	for	for	ADP
fsr-3884	253	17	constructive	constructive	ADJ
fsr-3884	253	18	suggestions	suggestion	NOUN
fsr-3884	253	19	and	and	CCONJ
fsr-3884	253	20	discussion	discussion	NOUN
fsr-3884	253	21	.	.	PUNCT
fsr-3884	254	1	the	the	DET
fsr-3884	254	2	authors	author	NOUN
fsr-3884	254	3	also	also	ADV
fsr-3884	254	4	thank	thank	VERB
fsr-3884	254	5	nusret	nusret	ADJ
fsr-3884	254	6	caxici	caxici	NOUN
fsr-3884	254	7	and	and	CCONJ
fsr-3884	254	8	ashok	ashok	PROPN
fsr-3884	254	9	vora	vora	PROPN
fsr-3884	254	10	for	for	ADP
fsr-3884	254	11	valuable	valuable	ADJ
fsr-3884	254	12	comments	comment	NOUN
fsr-3884	254	13	on	on	ADP
fsr-3884	254	14	previous	previous	ADJ
fsr-3884	254	15	drafts	draft	NOUN
fsr-3884	254	16	.	.	PUNCT
fsr-3884	255	1	patti	patti	PROPN
fsr-3884	255	2	wendt	wendt	PROPN
fsr-3884	255	3	provided	provide	VERB
fsr-3884	255	4	excellent	excellent	ADJ
fsr-3884	255	5	research	research	NOUN
fsr-3884	255	6	assistance	assistance	NOUN
fsr-3884	255	7	.	.	PUNCT
fsr-3884	256	1	98	98	NUM
fsr-3884	256	2	j.a	j.a	PROPN
fsr-3884	256	3	.	.	PROPN
fsr-3884	257	1	macdonald	macdonald	PROPN
fsr-3884	257	2	,	,	PUNCT
fsr-3884	257	3	d.m	d.m	PROPN
fsr-3884	257	4	.	.	PUNCT
fsr-3884	257	5	smith	smith	PROPN
fsr-3884	257	6	/	/	SYM
fsr-3884	257	7	financial	financial	ADJ
fsr-3884	257	8	services	service	NOUN
fsr-3884	257	9	review	review	VERB
fsr-3884	257	10	8	8	NUM
fsr-3884	257	11	(	(	PUNCT
fsr-3884	257	12	1999	1999	NUM
fsr-3884	257	13	)	)	PUNCT
fsr-3884	257	14	87–99	87–99	NUM
fsr-3884	257	15	references	reference	NOUN
fsr-3884	257	16	aharony	aharony	NOUN
fsr-3884	257	17	,	,	PUNCT
fsr-3884	257	18	j.	j.	PROPN
fsr-3884	257	19	,	,	PUNCT
fsr-3884	257	20	&	&	CCONJ
fsr-3884	257	21	swary	swary	ADJ
fsr-3884	257	22	,	,	PUNCT
fsr-3884	257	23	i.	i.	NOUN
fsr-3884	257	24	(	(	PUNCT
fsr-3884	257	25	1980	1980	NUM
fsr-3884	257	26	)	)	PUNCT
fsr-3884	257	27	.	.	PUNCT
fsr-3884	258	1	quarterly	quarterly	ADJ
fsr-3884	258	2	dividend	dividend	NOUN
fsr-3884	258	3	and	and	CCONJ
fsr-3884	258	4	earnings	earning	NOUN
fsr-3884	258	5	announcements	announcement	NOUN
fsr-3884	258	6	and	and	CCONJ
fsr-3884	258	7	stockholders	stockholder	NOUN
fsr-3884	258	8	’	'	PUNCT
fsr-3884	258	9	returns	return	NOUN
fsr-3884	258	10	:	:	PUNCT
fsr-3884	258	11	an	an	DET
fsr-3884	258	12	empirical	empirical	ADJ
fsr-3884	258	13	analysis.journal	analysis.journal	NOUN
fsr-3884	258	14	of	of	ADP
fsr-3884	258	15	finance	finance	NOUN
fsr-3884	258	16	,	,	PUNCT
fsr-3884	258	17	35(1	35(1	NUM
fsr-3884	258	18	)	)	PUNCT
fsr-3884	258	19	,	,	PUNCT
fsr-3884	258	20	1–12	1–12	NOUN
fsr-3884	258	21	.	.	PUNCT
fsr-3884	259	1	beaver	beaver	PROPN
fsr-3884	259	2	,	,	PUNCT
fsr-3884	259	3	w.	w.	PROPN
fsr-3884	259	4	,	,	PUNCT
fsr-3884	259	5	mcanally	mcanally	ADV
fsr-3884	259	6	,	,	PUNCT
fsr-3884	259	7	m.	m.	NOUN
fsr-3884	259	8	l.	l.	PROPN
fsr-3884	259	9	,	,	PUNCT
fsr-3884	259	10	&	&	CCONJ
fsr-3884	259	11	stinson	stinson	PROPN
fsr-3884	259	12	,	,	PUNCT
fsr-3884	259	13	c.	c.	PROPN
fsr-3884	259	14	h.	h.	PROPN
fsr-3884	259	15	(	(	PUNCT
fsr-3884	259	16	1997	1997	NUM
fsr-3884	259	17	)	)	PUNCT
fsr-3884	259	18	.	.	PUNCT
fsr-3884	260	1	the	the	DET
fsr-3884	260	2	information	information	NOUN
fsr-3884	260	3	content	content	NOUN
fsr-3884	260	4	of	of	ADP
fsr-3884	260	5	earnings	earning	NOUN
fsr-3884	260	6	and	and	CCONJ
fsr-3884	260	7	prices	price	NOUN
fsr-3884	260	8	:	:	PUNCT
fsr-3884	260	9	a	a	DET
fsr-3884	260	10	simultaneous	simultaneous	ADJ
fsr-3884	260	11	equations	equation	NOUN
fsr-3884	260	12	approach.journal	approach.journal	ADJ
fsr-3884	260	13	of	of	ADP
fsr-3884	260	14	accounting	accounting	NOUN
fsr-3884	260	15	and	and	CCONJ
fsr-3884	260	16	economics	economic	NOUN
fsr-3884	260	17	,	,	PUNCT
fsr-3884	260	18	23(1	23(1	NUM
fsr-3884	260	19	)	)	PUNCT
fsr-3884	260	20	,	,	PUNCT
fsr-3884	260	21	53–81	53–81	NUM
fsr-3884	260	22	.	.	PUNCT
fsr-3884	261	1	canina	canina	PROPN
fsr-3884	261	2	,	,	PUNCT
fsr-3884	261	3	l.	l.	PROPN
fsr-3884	261	4	(	(	PUNCT
fsr-3884	261	5	1999	1999	NUM
fsr-3884	261	6	)	)	PUNCT
fsr-3884	261	7	.	.	PUNCT
fsr-3884	262	1	the	the	DET
fsr-3884	262	2	market	market	NOUN
fsr-3884	262	3	’s	’s	PART
fsr-3884	262	4	perception	perception	NOUN
fsr-3884	262	5	of	of	ADP
fsr-3884	262	6	the	the	DET
fsr-3884	262	7	information	information	NOUN
fsr-3884	262	8	conveyed	convey	VERB
fsr-3884	262	9	by	by	ADP
fsr-3884	262	10	dividend	dividend	NOUN
fsr-3884	262	11	announcements.journal	announcements.journal	PROPN
fsr-3884	262	12	of	of	ADP
fsr-3884	262	13	multinational	multinational	ADJ
fsr-3884	262	14	financial	financial	ADJ
fsr-3884	262	15	management	management	NOUN
fsr-3884	262	16	,	,	PUNCT
fsr-3884	262	17	9(1	9(1	NUM
fsr-3884	262	18	)	)	PUNCT
fsr-3884	262	19	,	,	PUNCT
fsr-3884	262	20	1–13	1–13	NOUN
fsr-3884	262	21	.	.	PUNCT
fsr-3884	263	1	cox	cox	PROPN
fsr-3884	263	2	,	,	PUNCT
fsr-3884	263	3	j.	j.	PROPN
fsr-3884	263	4	c.	c.	PROPN
fsr-3884	263	5	,	,	PUNCT
fsr-3884	263	6	&	&	CCONJ
fsr-3884	263	7	rubinstein	rubinstein	PROPN
fsr-3884	263	8	,	,	PUNCT
fsr-3884	263	9	m.	m.	NOUN
fsr-3884	263	10	(	(	PUNCT
fsr-3884	263	11	1988).options	1988).options	NUM
fsr-3884	263	12	markets.upper	markets.upper	NUM
fsr-3884	263	13	saddle	saddle	PROPN
fsr-3884	263	14	river	river	NOUN
fsr-3884	263	15	,	,	PUNCT
fsr-3884	263	16	nj	nj	PROPN
fsr-3884	263	17	:	:	PUNCT
fsr-3884	263	18	prentice	prentice	PROPN
fsr-3884	263	19	hall	hall	PROPN
fsr-3884	263	20	.	.	PUNCT
fsr-3884	264	1	cready	cready	PROPN
fsr-3884	264	2	,	,	PUNCT
fsr-3884	264	3	w.	w.	PROPN
fsr-3884	264	4	m.	m.	NOUN
fsr-3884	264	5	(	(	PUNCT
fsr-3884	264	6	1988	1988	NUM
fsr-3884	264	7	)	)	PUNCT
fsr-3884	264	8	.	.	PUNCT
fsr-3884	265	1	information	information	NOUN
fsr-3884	265	2	value	value	NOUN
fsr-3884	265	3	and	and	CCONJ
fsr-3884	265	4	investor	investor	NOUN
fsr-3884	265	5	wealth	wealth	NOUN
fsr-3884	265	6	:	:	PUNCT
fsr-3884	265	7	the	the	DET
fsr-3884	265	8	case	case	NOUN
fsr-3884	265	9	of	of	ADP
fsr-3884	265	10	earnings	earning	NOUN
fsr-3884	265	11	announcements.journal	announcements.journal	PROPN
fsr-3884	265	12	of	of	ADP
fsr-3884	265	13	accounting	accounting	NOUN
fsr-3884	265	14	research	research	NOUN
fsr-3884	265	15	,	,	PUNCT
fsr-3884	265	16	26(1	26(1	NUM
fsr-3884	265	17	)	)	PUNCT
fsr-3884	265	18	,	,	PUNCT
fsr-3884	265	19	1–27	1–27	PROPN
fsr-3884	265	20	.	.	PROPN
fsr-3884	265	21	damodaran	damodaran	PROPN
fsr-3884	265	22	,	,	PUNCT
fsr-3884	265	23	a.	a.	NOUN
fsr-3884	265	24	(	(	PUNCT
fsr-3884	265	25	1989	1989	NUM
fsr-3884	265	26	)	)	PUNCT
fsr-3884	265	27	.	.	PUNCT
fsr-3884	266	1	the	the	DET
fsr-3884	266	2	weekend	weekend	NOUN
fsr-3884	266	3	effect	effect	NOUN
fsr-3884	266	4	in	in	ADP
fsr-3884	266	5	information	information	NOUN
fsr-3884	266	6	releases	release	NOUN
fsr-3884	266	7	:	:	PUNCT
fsr-3884	266	8	a	a	DET
fsr-3884	266	9	study	study	NOUN
fsr-3884	266	10	of	of	ADP
fsr-3884	266	11	earnings	earning	NOUN
fsr-3884	266	12	and	and	CCONJ
fsr-3884	266	13	dividend	dividend	NOUN
fsr-3884	266	14	announcements.review	announcements.review	NOUN
fsr-3884	266	15	of	of	ADP
fsr-3884	266	16	financial	financial	ADJ
fsr-3884	266	17	studies	study	NOUN
fsr-3884	266	18	,	,	PUNCT
fsr-3884	266	19	2(4	2(4	NUM
fsr-3884	266	20	)	)	PUNCT
fsr-3884	266	21	,	,	PUNCT
fsr-3884	266	22	607–623	607–623	NUM
fsr-3884	266	23	.	.	PUNCT
fsr-3884	267	1	de	de	PROPN
fsr-3884	267	2	bondt	bondt	PROPN
fsr-3884	267	3	,	,	PUNCT
fsr-3884	267	4	w.	w.	PROPN
fsr-3884	267	5	f.	f.	PROPN
fsr-3884	267	6	m.	m.	PROPN
fsr-3884	267	7	(	(	PUNCT
fsr-3884	267	8	1987	1987	NUM
fsr-3884	267	9	)	)	PUNCT
fsr-3884	267	10	.	.	PUNCT
fsr-3884	268	1	further	further	ADJ
fsr-3884	268	2	evidence	evidence	NOUN
fsr-3884	268	3	on	on	ADP
fsr-3884	268	4	investor	investor	NOUN
fsr-3884	268	5	overreaction	overreaction	NOUN
fsr-3884	268	6	and	and	CCONJ
fsr-3884	268	7	stock	stock	NOUN
fsr-3884	268	8	market	market	NOUN
fsr-3884	268	9	seasonality.journal	seasonality.journal	ADJ
fsr-3884	268	10	of	of	ADP
fsr-3884	268	11	finance	finance	NOUN
fsr-3884	268	12	,	,	PUNCT
fsr-3884	268	13	42(3	42(3	NUM
fsr-3884	268	14	)	)	PUNCT
fsr-3884	268	15	,	,	PUNCT
fsr-3884	268	16	557–581	557–581	NUM
fsr-3884	268	17	.	.	PUNCT
fsr-3884	268	18	de	de	PROPN
fsr-3884	268	19	bondt	bondt	PROPN
fsr-3884	268	20	,	,	PUNCT
fsr-3884	268	21	w.	w.	PROPN
fsr-3884	268	22	f.	f.	PROPN
fsr-3884	268	23	m.	m.	PROPN
fsr-3884	268	24	,	,	PUNCT
fsr-3884	268	25	&	&	CCONJ
fsr-3884	268	26	thaler	thaler	PROPN
fsr-3884	268	27	,	,	PUNCT
fsr-3884	268	28	r.	r.	PROPN
fsr-3884	268	29	(	(	PUNCT
fsr-3884	268	30	1985	1985	NUM
fsr-3884	268	31	)	)	PUNCT
fsr-3884	268	32	.	.	PUNCT
fsr-3884	269	1	does	do	AUX
fsr-3884	269	2	the	the	DET
fsr-3884	269	3	stock	stock	NOUN
fsr-3884	269	4	market	market	NOUN
fsr-3884	269	5	overreact?journal	overreact?journal	ADJ
fsr-3884	269	6	of	of	ADP
fsr-3884	269	7	finance	finance	NOUN
fsr-3884	269	8	,	,	PUNCT
fsr-3884	269	9	40(4	40(4	NUM
fsr-3884	269	10	)	)	PUNCT
fsr-3884	269	11	,	,	PUNCT
fsr-3884	269	12	793–805	793–805	NUM
fsr-3884	269	13	.	.	PUNCT
fsr-3884	270	1	deshpande	deshpande	PROPN
fsr-3884	270	2	,	,	PUNCT
fsr-3884	270	3	s.	s.	PROPN
fsr-3884	270	4	,	,	PUNCT
fsr-3884	270	5	&	&	CCONJ
fsr-3884	270	6	jog	jog	PROPN
fsr-3884	270	7	,	,	PUNCT
fsr-3884	270	8	v.	v.	PROPN
fsr-3884	270	9	(	(	PUNCT
fsr-3884	270	10	1989	1989	NUM
fsr-3884	270	11	)	)	PUNCT
fsr-3884	270	12	.	.	PUNCT
fsr-3884	271	1	primes	prime	NOUN
fsr-3884	271	2	and	and	CCONJ
fsr-3884	271	3	scores.aaii	scores.aaii	NUM
fsr-3884	271	4	journal	journal	NOUN
fsr-3884	271	5	,	,	PUNCT
fsr-3884	271	6	xi(7	xi(7	NOUN
fsr-3884	271	7	)	)	PUNCT
fsr-3884	271	8	,	,	PUNCT
fsr-3884	271	9	15–19	15–19	PROPN
fsr-3884	271	10	.	.	PUNCT
fsr-3884	272	1	easton	easton	PROPN
fsr-3884	272	2	,	,	PUNCT
fsr-3884	272	3	p.	p.	PROPN
fsr-3884	272	4	d.	d.	PROPN
fsr-3884	272	5	,	,	PUNCT
fsr-3884	272	6	&	&	CCONJ
fsr-3884	272	7	zmijewski	zmijewski	PROPN
fsr-3884	272	8	,	,	PUNCT
fsr-3884	272	9	m.	m.	PROPN
fsr-3884	272	10	e.	e.	PROPN
fsr-3884	272	11	(	(	PUNCT
fsr-3884	272	12	1989	1989	NUM
fsr-3884	272	13	)	)	PUNCT
fsr-3884	272	14	.	.	PUNCT
fsr-3884	273	1	cross	cross	ADJ
fsr-3884	273	2	-	-	ADJ
fsr-3884	273	3	sectional	sectional	ADJ
fsr-3884	273	4	variation	variation	NOUN
fsr-3884	273	5	in	in	ADP
fsr-3884	273	6	the	the	DET
fsr-3884	273	7	stock	stock	NOUN
fsr-3884	273	8	market	market	NOUN
fsr-3884	273	9	response	response	NOUN
fsr-3884	273	10	to	to	ADP
fsr-3884	273	11	accounting	account	VERB
fsr-3884	273	12	earnings	earning	NOUN
fsr-3884	273	13	announcements.journal	announcements.journal	PROPN
fsr-3884	273	14	of	of	ADP
fsr-3884	273	15	accounting	accounting	NOUN
fsr-3884	273	16	and	and	CCONJ
fsr-3884	273	17	economics	economic	NOUN
fsr-3884	273	18	,	,	PUNCT
fsr-3884	273	19	11(2–3	11(2–3	NUM
fsr-3884	273	20	)	)	PUNCT
fsr-3884	273	21	,	,	PUNCT
fsr-3884	273	22	117–141	117–141	NUM
fsr-3884	273	23	.	.	PUNCT
fsr-3884	274	1	foster	foster	PROPN
fsr-3884	274	2	,	,	PUNCT
fsr-3884	274	3	g.	g.	PROPN
fsr-3884	274	4	(	(	PUNCT
fsr-3884	274	5	1977	1977	NUM
fsr-3884	274	6	)	)	PUNCT
fsr-3884	274	7	.	.	PUNCT
fsr-3884	275	1	quarterly	quarterly	ADJ
fsr-3884	275	2	accounting	accounting	NOUN
fsr-3884	275	3	data	datum	NOUN
fsr-3884	275	4	:	:	PUNCT
fsr-3884	275	5	time	time	NOUN
fsr-3884	275	6	series	series	NOUN
fsr-3884	275	7	properties	property	NOUN
fsr-3884	275	8	and	and	CCONJ
fsr-3884	275	9	predictive	predictive	ADJ
fsr-3884	275	10	ability	ability	NOUN
fsr-3884	275	11	results.accounting	results.accounte	VERB
fsr-3884	275	12	review	review	NOUN
fsr-3884	275	13	,	,	PUNCT
fsr-3884	275	14	52(1	52(1	NOUN
fsr-3884	275	15	)	)	PUNCT
fsr-3884	275	16	,	,	PUNCT
fsr-3884	275	17	1–20	1–20	PROPN
fsr-3884	275	18	.	.	PUNCT
fsr-3884	275	19	hayn	hayn	NOUN
fsr-3884	275	20	,	,	PUNCT
fsr-3884	275	21	c.	c.	PROPN
fsr-3884	275	22	(	(	PUNCT
fsr-3884	275	23	1995	1995	NUM
fsr-3884	275	24	)	)	PUNCT
fsr-3884	275	25	.	.	PUNCT
fsr-3884	276	1	the	the	DET
fsr-3884	276	2	information	information	NOUN
fsr-3884	276	3	content	content	NOUN
fsr-3884	276	4	of	of	ADP
fsr-3884	276	5	losses.journal	losses.journal	PROPN
fsr-3884	276	6	of	of	ADP
fsr-3884	276	7	accounting	accounting	NOUN
fsr-3884	276	8	and	and	CCONJ
fsr-3884	276	9	economics	economic	NOUN
fsr-3884	276	10	,	,	PUNCT
fsr-3884	276	11	20(2	20(2	NUM
fsr-3884	276	12	)	)	PUNCT
fsr-3884	276	13	,	,	PUNCT
fsr-3884	276	14	125–153	125–153	NUM
fsr-3884	276	15	.	.	PUNCT
fsr-3884	277	1	jarrow	jarrow	PROPN
fsr-3884	277	2	,	,	PUNCT
fsr-3884	277	3	r.	r.	PROPN
fsr-3884	277	4	a.	a.	PROPN
fsr-3884	277	5	,	,	PUNCT
fsr-3884	277	6	&	&	CCONJ
fsr-3884	277	7	o’hara	o’hara	NOUN
fsr-3884	277	8	,	,	PUNCT
fsr-3884	277	9	m.	m.	NOUN
fsr-3884	277	10	(	(	PUNCT
fsr-3884	277	11	1989	1989	NUM
fsr-3884	277	12	)	)	PUNCT
fsr-3884	277	13	.	.	PUNCT
fsr-3884	278	1	primes	prime	NOUN
fsr-3884	278	2	and	and	CCONJ
fsr-3884	278	3	scores	score	NOUN
fsr-3884	278	4	:	:	PUNCT
fsr-3884	278	5	an	an	DET
fsr-3884	278	6	essay	essay	NOUN
fsr-3884	278	7	on	on	ADP
fsr-3884	278	8	market	market	NOUN
fsr-3884	278	9	imperfections.journal	imperfections.journal	ADJ
fsr-3884	278	10	of	of	ADP
fsr-3884	278	11	finance	finance	NOUN
fsr-3884	278	12	,	,	PUNCT
fsr-3884	278	13	44(5	44(5	PROPN
fsr-3884	278	14	)	)	PUNCT
fsr-3884	278	15	,	,	PUNCT
fsr-3884	278	16	1263–1287	1263–1287	NUM
fsr-3884	278	17	.	.	PUNCT
fsr-3884	279	1	jin	jin	NOUN
fsr-3884	279	2	,	,	PUNCT
fsr-3884	279	3	j.-d	j.-d	PROPN
fsr-3884	279	4	.	.	PUNCT
fsr-3884	280	1	(	(	PUNCT
fsr-3884	280	2	1992	1992	NUM
fsr-3884	280	3	)	)	PUNCT
fsr-3884	280	4	.	.	PUNCT
fsr-3884	281	1	the	the	DET
fsr-3884	281	2	relationship	relationship	NOUN
fsr-3884	281	3	between	between	ADP
fsr-3884	281	4	accounting	accounting	NOUN
fsr-3884	281	5	earnings	earning	NOUN
fsr-3884	281	6	and	and	CCONJ
fsr-3884	281	7	bond	bond	NOUN
fsr-3884	281	8	returns.journal	returns.journal	ADJ
fsr-3884	281	9	of	of	ADP
fsr-3884	281	10	accounting	accounting	NOUN
fsr-3884	281	11	and	and	CCONJ
fsr-3884	281	12	public	public	ADJ
fsr-3884	281	13	policy	policy	NOUN
fsr-3884	281	14	,	,	PUNCT
fsr-3884	281	15	11(3	11(3	NUM
fsr-3884	281	16	)	)	PUNCT
fsr-3884	281	17	,	,	PUNCT
fsr-3884	281	18	245–267	245–267	NUM
fsr-3884	281	19	.	.	PUNCT
fsr-3884	282	1	jones	jones	PROPN
fsr-3884	282	2	,	,	PUNCT
fsr-3884	282	3	c.	c.	PROPN
fsr-3884	282	4	p.	p.	PROPN
fsr-3884	282	5	,	,	PUNCT
fsr-3884	282	6	&	&	CCONJ
fsr-3884	282	7	bublitz	bublitz	PROPN
fsr-3884	282	8	,	,	PUNCT
fsr-3884	282	9	b.	b.	PROPN
fsr-3884	282	10	(	(	PUNCT
fsr-3884	282	11	1990	1990	NUM
fsr-3884	282	12	)	)	PUNCT
fsr-3884	282	13	.	.	PUNCT
fsr-3884	283	1	market	market	NOUN
fsr-3884	283	2	reactions	reaction	NOUN
fsr-3884	283	3	to	to	ADP
fsr-3884	283	4	the	the	DET
fsr-3884	283	5	information	information	NOUN
fsr-3884	283	6	content	content	NOUN
fsr-3884	283	7	of	of	ADP
fsr-3884	283	8	earnings	earning	NOUN
fsr-3884	283	9	over	over	ADP
fsr-3884	283	10	alternative	alternative	ADJ
fsr-3884	283	11	quarters.journal	quarters.journal	ADJ
fsr-3884	283	12	of	of	ADP
fsr-3884	283	13	accounting	accounting	NOUN
fsr-3884	283	14	,	,	PUNCT
fsr-3884	283	15	auditing	auditing	NOUN
fsr-3884	283	16	,	,	PUNCT
fsr-3884	283	17	and	and	CCONJ
fsr-3884	283	18	finance	finance	NOUN
fsr-3884	283	19	,	,	PUNCT
fsr-3884	283	20	5(4	5(4	NUM
fsr-3884	283	21	)	)	PUNCT
fsr-3884	283	22	,	,	PUNCT
fsr-3884	283	23	549–566	549–566	NUM
fsr-3884	283	24	.	.	PUNCT
fsr-3884	283	25	kallapur	kallapur	PROPN
fsr-3884	283	26	,	,	PUNCT
fsr-3884	283	27	s.	s.	PROPN
fsr-3884	283	28	(	(	PUNCT
fsr-3884	283	29	1994	1994	NUM
fsr-3884	283	30	)	)	PUNCT
fsr-3884	283	31	.	.	PUNCT
fsr-3884	284	1	dividend	dividend	NOUN
fsr-3884	284	2	payout	payout	NOUN
fsr-3884	284	3	ratios	ratio	NOUN
fsr-3884	284	4	as	as	ADP
fsr-3884	284	5	determinants	determinant	NOUN
fsr-3884	284	6	of	of	ADP
fsr-3884	284	7	earnings	earning	NOUN
fsr-3884	284	8	response	response	NOUN
fsr-3884	284	9	coefficients	coefficient	NOUN
fsr-3884	284	10	:	:	PUNCT
fsr-3884	284	11	a	a	DET
fsr-3884	284	12	test	test	NOUN
fsr-3884	284	13	of	of	ADP
fsr-3884	284	14	the	the	DET
fsr-3884	284	15	free	free	ADJ
fsr-3884	284	16	cash	cash	NOUN
fsr-3884	284	17	flow	flow	NOUN
fsr-3884	284	18	theory.journal	theory.journal	NUM
fsr-3884	284	19	of	of	ADP
fsr-3884	284	20	accounting	accounting	NOUN
fsr-3884	284	21	and	and	CCONJ
fsr-3884	284	22	economics	economic	NOUN
fsr-3884	284	23	,	,	PUNCT
fsr-3884	284	24	17(3	17(3	NUM
fsr-3884	284	25	)	)	PUNCT
fsr-3884	284	26	,	,	PUNCT
fsr-3884	284	27	359–375	359–375	NUM
fsr-3884	284	28	.	.	PUNCT
fsr-3884	285	1	kane	kane	PROPN
fsr-3884	285	2	,	,	PUNCT
fsr-3884	285	3	a.	a.	PROPN
fsr-3884	285	4	,	,	PUNCT
fsr-3884	285	5	lee	lee	PROPN
fsr-3884	285	6	,	,	PUNCT
fsr-3884	285	7	y.	y.	PROPN
fsr-3884	285	8	k.	k.	PROPN
fsr-3884	285	9	,	,	PUNCT
fsr-3884	285	10	&	&	CCONJ
fsr-3884	285	11	marcus	marcus	PROPN
fsr-3884	285	12	,	,	PUNCT
fsr-3884	285	13	a.	a.	PROPN
fsr-3884	285	14	(	(	PUNCT
fsr-3884	285	15	1984	1984	NUM
fsr-3884	285	16	)	)	PUNCT
fsr-3884	285	17	.	.	PUNCT
fsr-3884	286	1	earnings	earning	NOUN
fsr-3884	286	2	and	and	CCONJ
fsr-3884	286	3	dividend	dividend	NOUN
fsr-3884	286	4	announcements	announcement	NOUN
fsr-3884	286	5	:	:	PUNCT
fsr-3884	286	6	is	be	AUX
fsr-3884	286	7	there	there	PRON
fsr-3884	286	8	a	a	DET
fsr-3884	286	9	corroboration	corroboration	NOUN
fsr-3884	286	10	effect?journal	effect?journal	PROPN
fsr-3884	286	11	of	of	ADP
fsr-3884	286	12	finance	finance	NOUN
fsr-3884	286	13	,	,	PUNCT
fsr-3884	286	14	39(4	39(4	NOUN
fsr-3884	286	15	)	)	PUNCT
fsr-3884	286	16	,	,	PUNCT
fsr-3884	286	17	1091–1099	1091–1099	NUM
fsr-3884	286	18	.	.	PUNCT
fsr-3884	287	1	lang	lang	PROPN
fsr-3884	287	2	,	,	PUNCT
fsr-3884	287	3	m.	m.	NOUN
fsr-3884	287	4	(	(	PUNCT
fsr-3884	287	5	1991	1991	NUM
fsr-3884	287	6	)	)	PUNCT
fsr-3884	287	7	.	.	PUNCT
fsr-3884	288	1	time	time	NOUN
fsr-3884	288	2	-	-	PUNCT
fsr-3884	288	3	varying	vary	VERB
fsr-3884	288	4	stock	stock	NOUN
fsr-3884	288	5	price	price	NOUN
fsr-3884	288	6	response	response	NOUN
fsr-3884	288	7	to	to	ADP
fsr-3884	288	8	earnings	earning	NOUN
fsr-3884	288	9	induced	induce	VERB
fsr-3884	288	10	by	by	ADP
fsr-3884	288	11	uncertainty	uncertainty	NOUN
fsr-3884	288	12	about	about	ADP
fsr-3884	288	13	the	the	DET
fsr-3884	288	14	time	time	NOUN
fsr-3884	288	15	series	series	NOUN
fsr-3884	288	16	process	process	NOUN
fsr-3884	288	17	of	of	ADP
fsr-3884	288	18	earnings.journal	earnings.journal	PROPN
fsr-3884	288	19	of	of	ADP
fsr-3884	288	20	accounting	accounting	NOUN
fsr-3884	288	21	research	research	NOUN
fsr-3884	288	22	,	,	PUNCT
fsr-3884	288	23	29(2	29(2	NUM
fsr-3884	288	24	)	)	PUNCT
fsr-3884	288	25	,	,	PUNCT
fsr-3884	288	26	229–257	229–257	NUM
fsr-3884	288	27	.	.	PUNCT
fsr-3884	289	1	rendleman	rendleman	NOUN
fsr-3884	289	2	,	,	PUNCT
fsr-3884	289	3	r.	r.	PROPN
fsr-3884	289	4	j.	j.	PROPN
fsr-3884	289	5	,	,	PUNCT
fsr-3884	289	6	jones	jones	PROPN
fsr-3884	289	7	,	,	PUNCT
fsr-3884	289	8	c.	c.	PROPN
fsr-3884	289	9	p.	p.	PROPN
fsr-3884	289	10	,	,	PUNCT
fsr-3884	289	11	&	&	CCONJ
fsr-3884	289	12	latane	latane	PROPN
fsr-3884	289	13	´	´	PROPN
fsr-3884	289	14	,	,	PUNCT
fsr-3884	289	15	h.	h.	PROPN
fsr-3884	289	16	a.	a.	PROPN
fsr-3884	289	17	(	(	PUNCT
fsr-3884	289	18	1982	1982	NUM
fsr-3884	289	19	)	)	PUNCT
fsr-3884	289	20	.	.	PUNCT
fsr-3884	290	1	empirical	empirical	ADJ
fsr-3884	290	2	anomalies	anomaly	NOUN
fsr-3884	290	3	based	base	VERB
fsr-3884	290	4	on	on	ADP
fsr-3884	290	5	unexpected	unexpected	ADJ
fsr-3884	290	6	earnings	earning	NOUN
fsr-3884	290	7	and	and	CCONJ
fsr-3884	290	8	the	the	DET
fsr-3884	290	9	importance	importance	NOUN
fsr-3884	290	10	of	of	ADP
fsr-3884	290	11	risk	risk	NOUN
fsr-3884	290	12	adjustment.journal	adjustment.journal	PROPN
fsr-3884	290	13	of	of	ADP
fsr-3884	290	14	financial	financial	ADJ
fsr-3884	290	15	economics	economic	NOUN
fsr-3884	290	16	,	,	PUNCT
fsr-3884	290	17	10(3	10(3	NUM
fsr-3884	290	18	)	)	PUNCT
fsr-3884	290	19	,	,	PUNCT
fsr-3884	290	20	269–287	269–287	NUM
fsr-3884	290	21	.	.	PUNCT
fsr-3884	291	1	schachter	schachter	NOUN
fsr-3884	291	2	,	,	PUNCT
fsr-3884	291	3	b.	b.	PROPN
fsr-3884	291	4	(	(	PUNCT
fsr-3884	291	5	1988	1988	NUM
fsr-3884	291	6	)	)	PUNCT
fsr-3884	291	7	.	.	PUNCT
fsr-3884	292	1	open	open	ADJ
fsr-3884	292	2	interest	interest	NOUN
fsr-3884	292	3	in	in	ADP
fsr-3884	292	4	stock	stock	NOUN
fsr-3884	292	5	options	option	NOUN
fsr-3884	292	6	around	around	ADP
fsr-3884	292	7	quarterly	quarterly	ADJ
fsr-3884	292	8	earnings	earning	NOUN
fsr-3884	292	9	announcements.journal	announcements.journal	PROPN
fsr-3884	292	10	of	of	ADP
fsr-3884	292	11	accounting	accounting	NOUN
fsr-3884	292	12	research	research	NOUN
fsr-3884	292	13	,	,	PUNCT
fsr-3884	292	14	26(2	26(2	NUM
fsr-3884	292	15	)	)	PUNCT
fsr-3884	292	16	,	,	PUNCT
fsr-3884	292	17	353–372	353–372	NUM
fsr-3884	292	18	.	.	X
fsr-3884	292	19	sivakumar	sivakumar	PROPN
fsr-3884	292	20	,	,	PUNCT
fsr-3884	292	21	k.	k.	PROPN
fsr-3884	292	22	n.	n.	PROPN
fsr-3884	292	23	,	,	PUNCT
fsr-3884	292	24	&	&	CCONJ
fsr-3884	292	25	waymire	waymire	PROPN
fsr-3884	292	26	,	,	PUNCT
fsr-3884	292	27	g.	g.	PROPN
fsr-3884	292	28	(	(	PUNCT
fsr-3884	292	29	1993	1993	NUM
fsr-3884	292	30	)	)	PUNCT
fsr-3884	292	31	.	.	PUNCT
fsr-3884	293	1	the	the	DET
fsr-3884	293	2	information	information	NOUN
fsr-3884	293	3	content	content	NOUN
fsr-3884	293	4	of	of	ADP
fsr-3884	293	5	earnings	earning	NOUN
fsr-3884	293	6	in	in	ADP
fsr-3884	293	7	a	a	DET
fsr-3884	293	8	discretionary	discretionary	ADJ
fsr-3884	293	9	reporting	reporting	NOUN
fsr-3884	293	10	environment	environment	NOUN
fsr-3884	293	11	:	:	PUNCT
fsr-3884	293	12	evidence	evidence	NOUN
fsr-3884	293	13	from	from	ADP
fsr-3884	293	14	nyse	nyse	PROPN
fsr-3884	293	15	industrials	industrial	NOUN
fsr-3884	293	16	,	,	PUNCT
fsr-3884	293	17	1905–10.journal	1905–10.journal	NOUN
fsr-3884	293	18	of	of	ADP
fsr-3884	293	19	accounting	accounting	NOUN
fsr-3884	293	20	research	research	NOUN
fsr-3884	293	21	,	,	PUNCT
fsr-3884	293	22	31(1	31(1	NUM
fsr-3884	293	23	)	)	PUNCT
fsr-3884	293	24	,	,	PUNCT
fsr-3884	293	25	62–91	62–91	NUM
fsr-3884	293	26	.	.	PUNCT
fsr-3884	294	1	venkatesh	venkatesh	PROPN
fsr-3884	294	2	,	,	PUNCT
fsr-3884	294	3	p.	p.	NOUN
fsr-3884	294	4	c.	c.	PROPN
fsr-3884	294	5	(	(	PUNCT
fsr-3884	294	6	1991	1991	NUM
fsr-3884	294	7	)	)	PUNCT
fsr-3884	294	8	.	.	PUNCT
fsr-3884	295	1	trading	trading	NOUN
fsr-3884	295	2	costs	cost	NOUN
fsr-3884	295	3	and	and	CCONJ
fsr-3884	295	4	ex	ex	NOUN
fsr-3884	295	5	-	-	NOUN
fsr-3884	295	6	day	day	NOUN
fsr-3884	295	7	behavior	behavior	NOUN
fsr-3884	295	8	:	:	PUNCT
fsr-3884	295	9	an	an	DET
fsr-3884	295	10	examination	examination	NOUN
fsr-3884	295	11	of	of	ADP
fsr-3884	295	12	primes	prime	NOUN
fsr-3884	295	13	and	and	CCONJ
fsr-3884	295	14	stocks.financial	stocks.financial	ADJ
fsr-3884	295	15	management	management	NOUN
fsr-3884	295	16	,	,	PUNCT
fsr-3884	295	17	20(3	20(3	NOUN
fsr-3884	295	18	)	)	PUNCT
fsr-3884	295	19	,	,	PUNCT
fsr-3884	295	20	84–95	84–95	NUM
fsr-3884	295	21	.	.	PUNCT
fsr-3884	296	1	99j.a	99j.a	NUM
fsr-3884	296	2	.	.	PUNCT
fsr-3884	297	1	macdonald	macdonald	PROPN
fsr-3884	297	2	,	,	PUNCT
fsr-3884	297	3	d.m	d.m	PROPN
fsr-3884	297	4	.	.	PUNCT
fsr-3884	297	5	smith	smith	PROPN
fsr-3884	297	6	/	/	SYM
fsr-3884	297	7	financial	financial	ADJ
fsr-3884	297	8	services	service	NOUN
fsr-3884	297	9	review	review	VERB
fsr-3884	297	10	8	8	NUM
fsr-3884	297	11	(	(	PUNCT
fsr-3884	297	12	1999	1999	NUM
fsr-3884	297	13	)	)	PUNCT
fsr-3884	297	14	87–99	87–99	NUM