id	sid	tid	token	lemma	pos
fsr-3927	1	1	pii	pii	PROPN
fsr-3927	1	2	:	:	PUNCT
fsr-3927	1	3	s1057	s1057	NOUN
fsr-3927	1	4	-	-	PUNCT
fsr-3927	1	5	0810(01)00067	0810(01)00067	NOUN
fsr-3927	1	6	-	-	PUNCT
fsr-3927	1	7	1	1	NUM
fsr-3927	1	8	the	the	DET
fsr-3927	1	9	effect	effect	NOUN
fsr-3927	1	10	of	of	ADP
fsr-3927	1	11	country	country	NOUN
fsr-3927	1	12	-	-	PUNCT
fsr-3927	1	13	specific	specific	ADJ
fsr-3927	1	14	index	index	NOUN
fsr-3927	1	15	trading	trading	NOUN
fsr-3927	1	16	on	on	ADP
fsr-3927	1	17	closed	close	VERB
fsr-3927	1	18	-	-	PUNCT
fsr-3927	1	19	end	end	NOUN
fsr-3927	1	20	country	country	NOUN
fsr-3927	1	21	funds	fund	NOUN
fsr-3927	1	22	:	:	PUNCT
fsr-3927	1	23	an	an	DET
fsr-3927	1	24	empirical	empirical	ADJ
fsr-3927	1	25	analysis	analysis	NOUN
fsr-3927	1	26	matthew	matthew	PROPN
fsr-3927	1	27	o’connor	o’connor	ADV
fsr-3927	1	28	,	,	PUNCT
fsr-3927	1	29	ph.d.a	ph.d.a	PROPN
fsr-3927	1	30	,	,	PUNCT
fsr-3927	1	31	*	*	PUNCT
fsr-3927	1	32	,	,	PUNCT
fsr-3927	1	33	edward	edward	PROPN
fsr-3927	1	34	a.	a.	NOUN
fsr-3927	1	35	downe	downe	PROPN
fsr-3927	1	36	,	,	PUNCT
fsr-3927	1	37	ph.d.b	ph.d.b	NOUN
fsr-3927	1	38	aquinnipiac	aquinnipiac	NOUN
fsr-3927	1	39	university	university	NOUN
fsr-3927	1	40	,	,	PUNCT
fsr-3927	1	41	275	275	NUM
fsr-3927	1	42	mount	mount	PROPN
fsr-3927	1	43	carmel	carmel	PROPN
fsr-3927	1	44	avenue	avenue	PROPN
fsr-3927	1	45	,	,	PUNCT
fsr-3927	1	46	hamden	hamden	PROPN
fsr-3927	1	47	,	,	PUNCT
fsr-3927	1	48	ct	ct	PROPN
fsr-3927	1	49	06518	06518	NUM
fsr-3927	1	50	buniversity	buniversity	NOUN
fsr-3927	1	51	of	of	ADP
fsr-3927	1	52	new	new	ADJ
fsr-3927	1	53	haven	haven	NOUN
fsr-3927	1	54	,	,	PUNCT
fsr-3927	1	55	300	300	NUM
fsr-3927	1	56	orange	orange	PROPN
fsr-3927	1	57	avenue	avenue	PROPN
fsr-3927	1	58	,	,	PUNCT
fsr-3927	1	59	west	west	PROPN
fsr-3927	1	60	haven	haven	PROPN
fsr-3927	1	61	,	,	PUNCT
fsr-3927	1	62	ct	ct	PROPN
fsr-3927	1	63	16516	16516	NUM
fsr-3927	1	64	received	receive	VERB
fsr-3927	1	65	13	13	NUM
fsr-3927	1	66	march	march	NOUN
fsr-3927	1	67	2000	2000	NUM
fsr-3927	1	68	;	;	PUNCT
fsr-3927	1	69	received	receive	VERB
fsr-3927	1	70	in	in	ADP
fsr-3927	1	71	revised	revise	VERB
fsr-3927	1	72	form	form	NOUN
fsr-3927	1	73	17	17	NUM
fsr-3927	1	74	august	august	PROPN
fsr-3927	1	75	2000	2000	NUM
fsr-3927	1	76	;	;	PUNCT
fsr-3927	1	77	accepted	accept	VERB
fsr-3927	1	78	24	24	NUM
fsr-3927	1	79	january	january	PROPN
fsr-3927	1	80	2001	2001	NUM
fsr-3927	1	81	abstract	abstract	ADJ
fsr-3927	1	82	the	the	DET
fsr-3927	1	83	american	american	PROPN
fsr-3927	1	84	stock	stock	PROPN
fsr-3927	1	85	exchange	exchange	PROPN
fsr-3927	1	86	initiated	initiate	VERB
fsr-3927	1	87	trading	trading	NOUN
fsr-3927	1	88	in	in	ADP
fsr-3927	1	89	17	17	NUM
fsr-3927	1	90	world	world	NOUN
fsr-3927	1	91	equity	equity	NOUN
fsr-3927	1	92	benchmark	benchmark	NOUN
fsr-3927	1	93	shares	share	NOUN
fsr-3927	1	94	(	(	PUNCT
fsr-3927	1	95	acronym	acronym	NOUN
fsr-3927	1	96	“	"	PUNCT
fsr-3927	1	97	webs	webs	NOUN
fsr-3927	1	98	”	"	PUNCT
fsr-3927	1	99	™	™	NOUN
fsr-3927	1	100	)	)	PUNCT
fsr-3927	1	101	in	in	ADP
fsr-3927	1	102	april	april	PROPN
fsr-3927	1	103	1996	1996	NUM
fsr-3927	1	104	.	.	PUNCT
fsr-3927	2	1	webs	webs	NOUN
fsr-3927	2	2	are	be	AUX
fsr-3927	2	3	index	index	NOUN
fsr-3927	2	4	funds	fund	NOUN
fsr-3927	2	5	designed	design	VERB
fsr-3927	2	6	to	to	PART
fsr-3927	2	7	track	track	VERB
fsr-3927	2	8	the	the	DET
fsr-3927	2	9	morgan	morgan	PROPN
fsr-3927	2	10	stanley	stanley	PROPN
fsr-3927	2	11	capital	capital	PROPN
fsr-3927	2	12	international	international	PROPN
fsr-3927	2	13	(	(	PUNCT
fsr-3927	2	14	msci	msci	PROPN
fsr-3927	2	15	)	)	PUNCT
fsr-3927	2	16	indexes	index	NOUN
fsr-3927	2	17	.	.	PUNCT
fsr-3927	3	1	we	we	PRON
fsr-3927	3	2	examine	examine	VERB
fsr-3927	3	3	the	the	DET
fsr-3927	3	4	effect	effect	NOUN
fsr-3927	3	5	of	of	ADP
fsr-3927	3	6	this	this	DET
fsr-3927	3	7	event	event	NOUN
fsr-3927	3	8	on	on	ADP
fsr-3927	3	9	closed	close	VERB
fsr-3927	3	10	-	-	PUNCT
fsr-3927	3	11	end	end	NOUN
fsr-3927	3	12	country	country	NOUN
fsr-3927	3	13	funds	fund	NOUN
fsr-3927	3	14	(	(	PUNCT
fsr-3927	3	15	cecfs	cecfs	NOUN
fsr-3927	3	16	)	)	PUNCT
fsr-3927	3	17	and	and	CCONJ
fsr-3927	3	18	find	find	VERB
fsr-3927	3	19	that	that	SCONJ
fsr-3927	3	20	percentage	percentage	NOUN
fsr-3927	3	21	discounts	discount	NOUN
fsr-3927	3	22	increase	increase	NOUN
fsr-3927	3	23	.	.	PUNCT
fsr-3927	4	1	cecfs	cecfs	VERB
fsr-3927	4	2	with	with	ADP
fsr-3927	4	3	a	a	DET
fsr-3927	4	4	corresponding	correspond	VERB
fsr-3927	4	5	webs	webs	NOUN
fsr-3927	4	6	index	index	NOUN
fsr-3927	4	7	experience	experience	NOUN
fsr-3927	4	8	the	the	DET
fsr-3927	4	9	largest	large	ADJ
fsr-3927	4	10	increase	increase	NOUN
fsr-3927	4	11	and	and	CCONJ
fsr-3927	4	12	also	also	ADV
fsr-3927	4	13	show	show	VERB
fsr-3927	4	14	a	a	DET
fsr-3927	4	15	decline	decline	NOUN
fsr-3927	4	16	in	in	ADP
fsr-3927	4	17	trading	trading	NOUN
fsr-3927	4	18	volume	volume	NOUN
fsr-3927	4	19	.	.	PUNCT
fsr-3927	5	1	we	we	PRON
fsr-3927	5	2	attribute	attribute	VERB
fsr-3927	5	3	these	these	DET
fsr-3927	5	4	results	result	NOUN
fsr-3927	5	5	to	to	ADP
fsr-3927	5	6	(	(	PUNCT
fsr-3927	5	7	1	1	X
fsr-3927	5	8	)	)	PUNCT
fsr-3927	5	9	the	the	DET
fsr-3927	5	10	effects	effect	NOUN
fsr-3927	5	11	of	of	ADP
fsr-3927	5	12	increased	increase	VERB
fsr-3927	5	13	competition	competition	NOUN
fsr-3927	5	14	and	and	CCONJ
fsr-3927	5	15	(	(	PUNCT
fsr-3927	5	16	2	2	X
fsr-3927	5	17	)	)	PUNCT
fsr-3927	5	18	a	a	DET
fsr-3927	5	19	reduction	reduction	NOUN
fsr-3927	5	20	in	in	ADP
fsr-3927	5	21	the	the	DET
fsr-3927	5	22	market	market	NOUN
fsr-3927	5	23	segmentation	segmentation	NOUN
fsr-3927	5	24	premium	premium	NOUN
fsr-3927	5	25	.	.	PUNCT
fsr-3927	6	1	since	since	SCONJ
fsr-3927	6	2	additional	additional	ADJ
fsr-3927	6	3	webs	webs	NOUN
fsr-3927	6	4	have	have	AUX
fsr-3927	6	5	begun	begin	VERB
fsr-3927	6	6	trading	trading	NOUN
fsr-3927	6	7	,	,	PUNCT
fsr-3927	6	8	and	and	CCONJ
fsr-3927	6	9	other	other	ADJ
fsr-3927	6	10	approvals	approval	NOUN
fsr-3927	6	11	may	may	AUX
fsr-3927	6	12	follow	follow	VERB
fsr-3927	6	13	,	,	PUNCT
fsr-3927	6	14	similar	similar	ADJ
fsr-3927	6	15	effects	effect	NOUN
fsr-3927	6	16	could	could	AUX
fsr-3927	6	17	be	be	AUX
fsr-3927	6	18	experienced	experience	VERB
fsr-3927	6	19	in	in	ADP
fsr-3927	6	20	the	the	DET
fsr-3927	6	21	future	future	NOUN
fsr-3927	6	22	.	.	PUNCT
fsr-3927	7	1	©	©	PRON
fsr-3927	7	2	2001	2001	NUM
fsr-3927	7	3	elsevier	elsevier	PROPN
fsr-3927	7	4	science	science	PROPN
fsr-3927	7	5	inc	inc	PROPN
fsr-3927	7	6	.	.	PUNCT
fsr-3927	8	1	all	all	DET
fsr-3927	8	2	rights	right	NOUN
fsr-3927	8	3	reserved	reserve	VERB
fsr-3927	8	4	.	.	PUNCT
fsr-3927	9	1	jel	jel	PROPN
fsr-3927	9	2	classification	classification	NOUN
fsr-3927	9	3	:	:	PUNCT
fsr-3927	9	4	g140	g140	PROPN
fsr-3927	9	5	,	,	PUNCT
fsr-3927	9	6	g150	g150	PROPN
fsr-3927	9	7	keywords	keyword	NOUN
fsr-3927	9	8	:	:	PUNCT
fsr-3927	9	9	investments	investment	NOUN
fsr-3927	9	10	;	;	PUNCT
fsr-3927	9	11	market	market	NOUN
fsr-3927	9	12	efficiency	efficiency	NOUN
fsr-3927	9	13	;	;	PUNCT
fsr-3927	9	14	international	international	ADJ
fsr-3927	9	15	financial	financial	ADJ
fsr-3927	9	16	markets	market	NOUN
fsr-3927	9	17	1	1	NUM
fsr-3927	9	18	.	.	PUNCT
fsr-3927	10	1	introduction	introduction	NOUN
fsr-3927	10	2	closed	close	VERB
fsr-3927	10	3	-	-	PUNCT
fsr-3927	10	4	end	end	NOUN
fsr-3927	10	5	funds	fund	NOUN
fsr-3927	10	6	are	be	AUX
fsr-3927	10	7	mutual	mutual	ADJ
fsr-3927	10	8	funds	fund	NOUN
fsr-3927	10	9	that	that	PRON
fsr-3927	10	10	issue	issue	VERB
fsr-3927	10	11	a	a	DET
fsr-3927	10	12	fixed	fix	VERB
fsr-3927	10	13	number	number	NOUN
fsr-3927	10	14	of	of	ADP
fsr-3927	10	15	shares	share	NOUN
fsr-3927	10	16	that	that	PRON
fsr-3927	10	17	trade	trade	VERB
fsr-3927	10	18	on	on	ADP
fsr-3927	10	19	a	a	DET
fsr-3927	10	20	stock	stock	NOUN
fsr-3927	10	21	exchange	exchange	NOUN
fsr-3927	10	22	.	.	PUNCT
fsr-3927	11	1	owners	owner	NOUN
fsr-3927	11	2	of	of	ADP
fsr-3927	11	3	closed	closed	ADJ
fsr-3927	11	4	-	-	PUNCT
fsr-3927	11	5	end	end	NOUN
fsr-3927	11	6	funds	fund	NOUN
fsr-3927	11	7	liquidate	liquidate	VERB
fsr-3927	11	8	their	their	PRON
fsr-3927	11	9	shares	share	NOUN
fsr-3927	11	10	by	by	ADP
fsr-3927	11	11	selling	sell	VERB
fsr-3927	11	12	them	they	PRON
fsr-3927	11	13	to	to	ADP
fsr-3927	11	14	other	other	ADJ
fsr-3927	11	15	investors	investor	NOUN
fsr-3927	11	16	.	.	PUNCT
fsr-3927	12	1	whereas	whereas	SCONJ
fsr-3927	12	2	open	open	ADJ
fsr-3927	12	3	-	-	PUNCT
fsr-3927	12	4	end	end	NOUN
fsr-3927	12	5	funds	fund	NOUN
fsr-3927	12	6	stand	stand	VERB
fsr-3927	12	7	ready	ready	ADJ
fsr-3927	12	8	to	to	PART
fsr-3927	12	9	redeem	redeem	VERB
fsr-3927	12	10	shares	share	NOUN
fsr-3927	12	11	at	at	ADP
fsr-3927	12	12	net	net	ADJ
fsr-3927	12	13	asset	asset	NOUN
fsr-3927	12	14	value	value	NOUN
fsr-3927	12	15	(	(	PUNCT
fsr-3927	12	16	nav	nav	NOUN
fsr-3927	12	17	)	)	PUNCT
fsr-3927	12	18	,	,	PUNCT
fsr-3927	12	19	closed	close	VERB
fsr-3927	12	20	-	-	PUNCT
fsr-3927	12	21	end	end	NOUN
fsr-3927	12	22	funds	fund	NOUN
fsr-3927	12	23	usually	usually	ADV
fsr-3927	12	24	sell	sell	VERB
fsr-3927	12	25	at	at	ADP
fsr-3927	12	26	a	a	DET
fsr-3927	12	27	discount	discount	NOUN
fsr-3927	12	28	and	and	CCONJ
fsr-3927	12	29	sometimes	sometimes	ADV
fsr-3927	12	30	at	at	ADP
fsr-3927	12	31	a	a	DET
fsr-3927	12	32	premium	premium	NOUN
fsr-3927	12	33	to	to	ADP
fsr-3927	12	34	nav	nav	PROPN
fsr-3927	12	35	.	.	PUNCT
fsr-3927	13	1	however	however	ADV
fsr-3927	13	2	,	,	PUNCT
fsr-3927	13	3	when	when	SCONJ
fsr-3927	13	4	the	the	DET
fsr-3927	13	5	funds	fund	NOUN
fsr-3927	13	6	are	be	AUX
fsr-3927	13	7	initiated	initiate	VERB
fsr-3927	13	8	,	,	PUNCT
fsr-3927	13	9	they	they	PRON
fsr-3927	13	10	always	always	ADV
fsr-3927	13	11	sell	sell	VERB
fsr-3927	13	12	at	at	ADP
fsr-3927	13	13	a	a	DET
fsr-3927	13	14	premium	premium	NOUN
fsr-3927	13	15	.	.	PUNCT
fsr-3927	14	1	the	the	DET
fsr-3927	14	2	start	start	VERB
fsr-3927	14	3	-	-	PUNCT
fsr-3927	14	4	up	up	ADP
fsr-3927	14	5	premium	premium	NOUN
fsr-3927	14	6	results	result	NOUN
fsr-3927	14	7	*	*	PUNCT
fsr-3927	14	8	corresponding	correspond	VERB
fsr-3927	14	9	author	author	NOUN
fsr-3927	14	10	.	.	PUNCT
fsr-3927	15	1	tel.:11	tel.:11	VERB
fsr-3927	15	2	-	-	PUNCT
fsr-3927	15	3	203	203	NUM
fsr-3927	15	4	-	-	PUNCT
fsr-3927	15	5	582	582	NUM
fsr-3927	15	6	-	-	SYM
fsr-3927	15	7	8297	8297	NUM
fsr-3927	15	8	;	;	PUNCT
fsr-3927	15	9	fax:11	fax:11	NOUN
fsr-3927	15	10	-	-	PUNCT
fsr-3927	15	11	203	203	NUM
fsr-3927	15	12	-	-	PUNCT
fsr-3927	15	13	582	582	NUM
fsr-3927	15	14	-	-	PUNCT
fsr-3927	15	15	8664	8664	NUM
fsr-3927	15	16	.	.	PUNCT
fsr-3927	16	1	e	e	X
fsr-3927	16	2	-	-	NOUN
fsr-3927	16	3	mail	mail	NOUN
fsr-3927	16	4	address:matthew.oconnor@quinnipiac.edu	address:matthew.oconnor@quinnipiac.edu	NOUN
fsr-3927	16	5	(	(	PUNCT
fsr-3927	16	6	m.	m.	NOUN
fsr-3927	16	7	o’connor	o’connor	ADV
fsr-3927	16	8	)	)	PUNCT
fsr-3927	16	9	.	.	PUNCT
fsr-3927	17	1	financial	financial	ADJ
fsr-3927	17	2	services	service	NOUN
fsr-3927	17	3	review	review	VERB
fsr-3927	17	4	9	9	NUM
fsr-3927	17	5	(	(	PUNCT
fsr-3927	17	6	2000	2000	NUM
fsr-3927	17	7	)	)	PUNCT
fsr-3927	18	1	259–275	259–275	NUM
fsr-3927	18	2	1057	1057	NUM
fsr-3927	18	3	-	-	SYM
fsr-3927	18	4	0810/00/$	0810/00/$	NUM
fsr-3927	18	5	–	–	PUNCT
fsr-3927	18	6	see	see	VERB
fsr-3927	18	7	front	front	ADJ
fsr-3927	18	8	matter	matter	NOUN
fsr-3927	18	9	©	©	PROPN
fsr-3927	18	10	2001	2001	NUM
fsr-3927	18	11	elsevier	elsevier	PROPN
fsr-3927	18	12	science	science	PROPN
fsr-3927	18	13	inc	inc	PROPN
fsr-3927	18	14	.	.	PUNCT
fsr-3927	19	1	all	all	DET
fsr-3927	19	2	rights	right	NOUN
fsr-3927	19	3	reserved	reserve	VERB
fsr-3927	19	4	.	.	PUNCT
fsr-3927	20	1	pii	pii	NOUN
fsr-3927	20	2	:	:	PUNCT
fsr-3927	20	3	s1057	s1057	NOUN
fsr-3927	20	4	-	-	PUNCT
fsr-3927	20	5	0810(01)00067	0810(01)00067	NOUN
fsr-3927	20	6	-	-	PUNCT
fsr-3927	20	7	1	1	NUM
fsr-3927	20	8	from	from	ADP
fsr-3927	20	9	underwriting	underwriting	NOUN
fsr-3927	20	10	fees	fee	NOUN
fsr-3927	20	11	and	and	CCONJ
fsr-3927	20	12	up	up	ADP
fsr-3927	20	13	-	-	PUNCT
fsr-3927	20	14	front	front	NOUN
fsr-3927	20	15	costs	cost	NOUN
fsr-3927	20	16	associated	associate	VERB
fsr-3927	20	17	with	with	ADP
fsr-3927	20	18	the	the	DET
fsr-3927	20	19	flotation	flotation	NOUN
fsr-3927	20	20	.	.	PUNCT
fsr-3927	21	1	attempts	attempt	NOUN
fsr-3927	21	2	to	to	PART
fsr-3927	21	3	fully	fully	ADV
fsr-3927	21	4	explain	explain	VERB
fsr-3927	21	5	discounts	discount	NOUN
fsr-3927	21	6	or	or	CCONJ
fsr-3927	21	7	premiums	premium	NOUN
fsr-3927	21	8	on	on	ADP
fsr-3927	21	9	a	a	DET
fsr-3927	21	10	rational	rational	ADJ
fsr-3927	21	11	basis	basis	NOUN
fsr-3927	21	12	have	have	AUX
fsr-3927	21	13	generally	generally	ADV
fsr-3927	21	14	failed	fail	VERB
fsr-3927	21	15	,	,	PUNCT
fsr-3927	21	16	and	and	CCONJ
fsr-3927	21	17	this	this	PRON
fsr-3927	21	18	has	have	AUX
fsr-3927	21	19	become	become	AUX
fsr-3927	21	20	known	know	VERB
fsr-3927	21	21	as	as	ADP
fsr-3927	21	22	the	the	DET
fsr-3927	21	23	“	"	PUNCT
fsr-3927	21	24	closed	close	VERB
fsr-3927	21	25	-	-	PUNCT
fsr-3927	21	26	end	end	NOUN
fsr-3927	21	27	fund	fund	NOUN
fsr-3927	21	28	puzzle	puzzle	NOUN
fsr-3927	21	29	.	.	PUNCT
fsr-3927	21	30	”	"	PUNCT
fsr-3927	22	1	nevertheless	nevertheless	ADV
fsr-3927	22	2	,	,	PUNCT
fsr-3927	22	3	it	it	PRON
fsr-3927	22	4	is	be	AUX
fsr-3927	22	5	not	not	PART
fsr-3927	22	6	surprising	surprising	ADJ
fsr-3927	22	7	that	that	SCONJ
fsr-3927	22	8	closed	close	VERB
fsr-3927	22	9	-	-	PUNCT
fsr-3927	22	10	ending	ending	NOUN
fsr-3927	22	11	is	be	AUX
fsr-3927	22	12	often	often	ADV
fsr-3927	22	13	more	more	ADV
fsr-3927	22	14	attractive	attractive	ADJ
fsr-3927	22	15	than	than	ADP
fsr-3927	22	16	openending	openende	VERB
fsr-3927	22	17	for	for	ADP
fsr-3927	22	18	funds	fund	NOUN
fsr-3927	22	19	specializing	specialize	VERB
fsr-3927	22	20	in	in	ADP
fsr-3927	22	21	a	a	DET
fsr-3927	22	22	foreign	foreign	ADJ
fsr-3927	22	23	country	country	NOUN
fsr-3927	22	24	,	,	PUNCT
fsr-3927	22	25	i.e.	i.e.	X
fsr-3927	22	26	funds	fund	NOUN
fsr-3927	22	27	in	in	ADP
fsr-3927	22	28	which	which	PRON
fsr-3927	22	29	the	the	DET
fsr-3927	22	30	underlying	underlie	VERB
fsr-3927	22	31	assets	asset	NOUN
fsr-3927	22	32	trade	trade	NOUN
fsr-3927	22	33	in	in	ADP
fsr-3927	22	34	a	a	DET
fsr-3927	22	35	foreign	foreign	ADJ
fsr-3927	22	36	market	market	NOUN
fsr-3927	22	37	.	.	PUNCT
fsr-3927	23	1	such	such	ADJ
fsr-3927	23	2	closed	close	VERB
fsr-3927	23	3	-	-	PUNCT
fsr-3927	23	4	end	end	NOUN
fsr-3927	23	5	country	country	NOUN
fsr-3927	23	6	funds	fund	NOUN
fsr-3927	23	7	(	(	PUNCT
fsr-3927	23	8	cecfs	cecfs	NOUN
fsr-3927	23	9	)	)	PUNCT
fsr-3927	23	10	may	may	AUX
fsr-3927	23	11	be	be	AUX
fsr-3927	23	12	illiquid	illiquid	ADJ
fsr-3927	23	13	,	,	PUNCT
fsr-3927	23	14	and	and	CCONJ
fsr-3927	23	15	closed	close	VERB
fsr-3927	23	16	-	-	PUNCT
fsr-3927	23	17	ending	end	VERB
fsr-3927	23	18	ensures	ensure	VERB
fsr-3927	23	19	that	that	SCONJ
fsr-3927	23	20	assets	asset	NOUN
fsr-3927	23	21	will	will	AUX
fsr-3927	23	22	not	not	PART
fsr-3927	23	23	have	have	VERB
fsr-3927	23	24	to	to	PART
fsr-3927	23	25	be	be	AUX
fsr-3927	23	26	sold	sell	VERB
fsr-3927	23	27	off	off	ADP
fsr-3927	23	28	at	at	ADP
fsr-3927	23	29	fire	fire	NOUN
fsr-3927	23	30	sale	sale	NOUN
fsr-3927	23	31	prices	price	NOUN
fsr-3927	23	32	to	to	PART
fsr-3927	23	33	meet	meet	VERB
fsr-3927	23	34	redemptions	redemption	NOUN
fsr-3927	23	35	during	during	ADP
fsr-3927	23	36	market	market	NOUN
fsr-3927	23	37	declines	decline	NOUN
fsr-3927	23	38	.	.	PUNCT
fsr-3927	24	1	hence	hence	ADV
fsr-3927	24	2	,	,	PUNCT
fsr-3927	24	3	cecfs	cecfs	PROPN
fsr-3927	24	4	represent	represent	VERB
fsr-3927	24	5	rational	rational	ADJ
fsr-3927	24	6	international	international	ADJ
fsr-3927	24	7	investment	investment	NOUN
fsr-3927	24	8	vehicles	vehicle	NOUN
fsr-3927	24	9	for	for	ADP
fsr-3927	24	10	many	many	ADJ
fsr-3927	24	11	domestic	domestic	ADJ
fsr-3927	24	12	investors	investor	NOUN
fsr-3927	24	13	.	.	PUNCT
fsr-3927	25	1	beginning	begin	VERB
fsr-3927	25	2	april	april	PROPN
fsr-3927	25	3	5	5	NUM
fsr-3927	25	4	,	,	PUNCT
fsr-3927	25	5	1996	1996	NUM
fsr-3927	25	6	,	,	PUNCT
fsr-3927	25	7	the	the	DET
fsr-3927	25	8	american	american	PROPN
fsr-3927	25	9	stock	stock	PROPN
fsr-3927	25	10	exchange	exchange	PROPN
fsr-3927	25	11	initiated	initiate	VERB
fsr-3927	25	12	trading	trading	NOUN
fsr-3927	25	13	in	in	ADP
fsr-3927	25	14	world	world	NOUN
fsr-3927	25	15	equity	equity	NOUN
fsr-3927	25	16	benchmark	benchmark	NOUN
fsr-3927	25	17	shares	share	NOUN
fsr-3927	25	18	(	(	PUNCT
fsr-3927	25	19	acronym	acronym	NOUN
fsr-3927	25	20	webs	webs	NOUN
fsr-3927	25	21	™	™	NOUN
fsr-3927	25	22	)	)	PUNCT
fsr-3927	25	23	designed	design	VERB
fsr-3927	25	24	to	to	PART
fsr-3927	25	25	track	track	VERB
fsr-3927	25	26	the	the	DET
fsr-3927	25	27	morgan	morgan	PROPN
fsr-3927	25	28	stanley	stanley	PROPN
fsr-3927	25	29	capital	capital	PROPN
fsr-3927	25	30	international	international	PROPN
fsr-3927	25	31	(	(	PUNCT
fsr-3927	25	32	msci	msci	PROPN
fsr-3927	25	33	)	)	PUNCT
fsr-3927	25	34	indexes	index	NOUN
fsr-3927	25	35	for	for	ADP
fsr-3927	25	36	17	17	NUM
fsr-3927	25	37	countries	country	NOUN
fsr-3927	25	38	.	.	PUNCT
fsr-3927	26	1	msci	msci	PROPN
fsr-3927	26	2	indexes	index	NOUN
fsr-3927	26	3	have	have	AUX
fsr-3927	26	4	been	be	AUX
fsr-3927	26	5	the	the	DET
fsr-3927	26	6	traditional	traditional	ADJ
fsr-3927	26	7	benchmarks	benchmark	NOUN
fsr-3927	26	8	for	for	ADP
fsr-3927	26	9	international	international	ADJ
fsr-3927	26	10	portfolios	portfolio	NOUN
fsr-3927	26	11	.	.	PUNCT
fsr-3927	27	1	each	each	DET
fsr-3927	27	2	webs	webs	NOUN
fsr-3927	27	3	index	index	NOUN
fsr-3927	27	4	series	series	NOUN
fsr-3927	27	5	holds	hold	VERB
fsr-3927	27	6	a	a	DET
fsr-3927	27	7	representative	representative	ADJ
fsr-3927	27	8	sample	sample	NOUN
fsr-3927	27	9	of	of	ADP
fsr-3927	27	10	the	the	DET
fsr-3927	27	11	underlying	underlie	VERB
fsr-3927	27	12	securities	security	NOUN
fsr-3927	27	13	in	in	ADP
fsr-3927	27	14	a	a	DET
fsr-3927	27	15	corresponding	correspond	VERB
fsr-3927	27	16	msci	msci	PROPN
fsr-3927	27	17	index	index	NOUN
fsr-3927	27	18	.	.	PUNCT
fsr-3927	28	1	since	since	SCONJ
fsr-3927	28	2	webs	webs	NOUN
fsr-3927	28	3	can	can	AUX
fsr-3927	28	4	be	be	AUX
fsr-3927	28	5	sold	sell	VERB
fsr-3927	28	6	to	to	ADP
fsr-3927	28	7	the	the	DET
fsr-3927	28	8	fund	fund	NOUN
fsr-3927	28	9	or	or	CCONJ
fsr-3927	28	10	redeemed	redeem	VERB
fsr-3927	28	11	by	by	ADP
fsr-3927	28	12	the	the	DET
fsr-3927	28	13	fund	fund	NOUN
fsr-3927	28	14	in	in	ADP
fsr-3927	28	15	aggregations	aggregation	NOUN
fsr-3927	28	16	of	of	ADP
fsr-3927	28	17	securities	security	NOUN
fsr-3927	28	18	called	call	VERB
fsr-3927	28	19	“	"	PUNCT
fsr-3927	28	20	creation	creation	NOUN
fsr-3927	28	21	units	unit	NOUN
fsr-3927	28	22	,	,	PUNCT
fsr-3927	28	23	”	"	PUNCT
fsr-3927	28	24	webs	webs	NOUN
fsr-3927	28	25	can	can	AUX
fsr-3927	28	26	be	be	AUX
fsr-3927	28	27	easily	easily	ADV
fsr-3927	28	28	arbitraged	arbitrage	VERB
fsr-3927	28	29	and	and	CCONJ
fsr-3927	28	30	therefore	therefore	ADV
fsr-3927	28	31	track	track	VERB
fsr-3927	28	32	closely	closely	ADV
fsr-3927	28	33	the	the	DET
fsr-3927	28	34	values	value	NOUN
fsr-3927	28	35	of	of	ADP
fsr-3927	28	36	their	their	PRON
fsr-3927	28	37	respective	respective	ADJ
fsr-3927	28	38	msci	msci	PROPN
fsr-3927	28	39	index	index	NOUN
fsr-3927	28	40	.	.	PUNCT
fsr-3927	29	1	however	however	ADV
fsr-3927	29	2	,	,	PUNCT
fsr-3927	29	3	irregularities	irregularity	NOUN
fsr-3927	29	4	in	in	ADP
fsr-3927	29	5	portfolio	portfolio	NOUN
fsr-3927	29	6	sampling	sample	VERB
fsr-3927	29	7	techniques	technique	NOUN
fsr-3927	29	8	and	and	CCONJ
fsr-3927	29	9	other	other	ADJ
fsr-3927	29	10	regulatory	regulatory	ADJ
fsr-3927	29	11	constraints	constraint	NOUN
fsr-3927	29	12	(	(	PUNCT
fsr-3927	29	13	mainly	mainly	ADV
fsr-3927	29	14	tax	tax	NOUN
fsr-3927	29	15	-	-	PUNCT
fsr-3927	29	16	related	relate	VERB
fsr-3927	29	17	)	)	PUNCT
fsr-3927	29	18	allow	allow	VERB
fsr-3927	29	19	webs	webs	NOUN
fsr-3927	29	20	values	value	NOUN
fsr-3927	29	21	to	to	PART
fsr-3927	29	22	vary	vary	VERB
fsr-3927	29	23	slightly	slightly	ADV
fsr-3927	29	24	from	from	ADP
fsr-3927	29	25	msci	msci	PROPN
fsr-3927	29	26	indexes	index	NOUN
fsr-3927	29	27	.	.	PUNCT
fsr-3927	30	1	few	few	ADJ
fsr-3927	30	2	open	open	ADJ
fsr-3927	30	3	-	-	PUNCT
fsr-3927	30	4	end	end	NOUN
fsr-3927	30	5	mutual	mutual	ADJ
fsr-3927	30	6	funds	fund	NOUN
fsr-3927	30	7	specialize	specialize	VERB
fsr-3927	30	8	in	in	ADP
fsr-3927	30	9	a	a	DET
fsr-3927	30	10	single	single	ADJ
fsr-3927	30	11	foreign	foreign	ADJ
fsr-3927	30	12	market	market	NOUN
fsr-3927	30	13	.	.	PUNCT
fsr-3927	31	1	hence	hence	ADV
fsr-3927	31	2	,	,	PUNCT
fsr-3927	31	3	prior	prior	ADV
fsr-3927	31	4	to	to	ADP
fsr-3927	31	5	the	the	DET
fsr-3927	31	6	arrival	arrival	NOUN
fsr-3927	31	7	of	of	ADP
fsr-3927	31	8	international	international	ADJ
fsr-3927	31	9	index	index	NOUN
fsr-3927	31	10	funds	fund	NOUN
fsr-3927	31	11	,	,	PUNCT
fsr-3927	31	12	cecfs	cecfs	PROPN
fsr-3927	31	13	were	be	AUX
fsr-3927	31	14	often	often	ADV
fsr-3927	31	15	the	the	DET
fsr-3927	31	16	only	only	ADJ
fsr-3927	31	17	economical	economical	ADJ
fsr-3927	31	18	avenue	avenue	NOUN
fsr-3927	31	19	for	for	SCONJ
fsr-3927	31	20	individual	individual	ADJ
fsr-3927	31	21	investors	investor	NOUN
fsr-3927	31	22	to	to	PART
fsr-3927	31	23	diversify	diversify	VERB
fsr-3927	31	24	into	into	ADP
fsr-3927	31	25	single	single	ADJ
fsr-3927	31	26	market	market	NOUN
fsr-3927	31	27	foreign	foreign	ADJ
fsr-3927	31	28	investments	investment	NOUN
fsr-3927	31	29	.	.	PUNCT
fsr-3927	32	1	therefore	therefore	ADV
fsr-3927	32	2	,	,	PUNCT
fsr-3927	32	3	webs	webs	NOUN
fsr-3927	32	4	are	be	AUX
fsr-3927	32	5	an	an	DET
fsr-3927	32	6	important	important	ADJ
fsr-3927	32	7	integrating	integrating	NOUN
fsr-3927	32	8	event	event	NOUN
fsr-3927	32	9	and	and	CCONJ
fsr-3927	32	10	should	should	AUX
fsr-3927	32	11	impact	impact	VERB
fsr-3927	32	12	cecf	cecf	NOUN
fsr-3927	32	13	discounts	discount	NOUN
fsr-3927	32	14	.	.	PUNCT
fsr-3927	33	1	it	it	PRON
fsr-3927	33	2	should	should	AUX
fsr-3927	33	3	be	be	AUX
fsr-3927	33	4	noted	note	VERB
fsr-3927	33	5	that	that	SCONJ
fsr-3927	33	6	the	the	DET
fsr-3927	33	7	week	week	NOUN
fsr-3927	33	8	prior	prior	ADV
fsr-3927	33	9	to	to	ADP
fsr-3927	33	10	the	the	DET
fsr-3927	33	11	introduction	introduction	NOUN
fsr-3927	33	12	of	of	ADP
fsr-3927	33	13	webs	webs	NOUN
fsr-3927	33	14	,	,	PUNCT
fsr-3927	33	15	deutsche	deutsche	PROPN
fsr-3927	33	16	morgan	morgan	PROPN
fsr-3927	33	17	grenfellintroduced	grenfellintroduce	VERB
fsr-3927	33	18	eight	eight	NUM
fsr-3927	33	19	foreign	foreign	ADJ
fsr-3927	33	20	country	country	NOUN
fsr-3927	33	21	basket	basket	NOUN
fsr-3927	33	22	index	index	NOUN
fsr-3927	33	23	funds	fund	NOUN
fsr-3927	33	24	(	(	PUNCT
fsr-3927	33	25	cbs	cbs	PROPN
fsr-3927	33	26	)	)	PUNCT
fsr-3927	33	27	.	.	PUNCT
fsr-3927	34	1	although	although	SCONJ
fsr-3927	34	2	quite	quite	ADV
fsr-3927	34	3	similar	similar	ADJ
fsr-3927	34	4	to	to	ADP
fsr-3927	34	5	webs	webs	NOUN
fsr-3927	34	6	,	,	PUNCT
fsr-3927	34	7	investors	investor	NOUN
fsr-3927	34	8	never	never	ADV
fsr-3927	34	9	fully	fully	ADV
fsr-3927	34	10	accepted	accept	VERB
fsr-3927	34	11	cbs	cbs	PROPN
fsr-3927	34	12	,	,	PUNCT
fsr-3927	34	13	and	and	CCONJ
fsr-3927	34	14	the	the	DET
fsr-3927	34	15	series	series	NOUN
fsr-3927	34	16	was	be	AUX
fsr-3927	34	17	discontinued	discontinue	VERB
fsr-3927	34	18	on	on	ADP
fsr-3927	34	19	february	february	PROPN
fsr-3927	34	20	10	10	NUM
fsr-3927	34	21	,	,	PUNCT
fsr-3927	34	22	1997	1997	NUM
fsr-3927	34	23	,	,	PUNCT
fsr-3927	34	24	less	less	ADJ
fsr-3927	34	25	than	than	ADP
fsr-3927	34	26	a	a	PRON
fsr-3927	34	27	year	year	NOUN
fsr-3927	34	28	after	after	SCONJ
fsr-3927	34	29	trading	trading	NOUN
fsr-3927	34	30	began	begin	VERB
fsr-3927	34	31	.	.	PUNCT
fsr-3927	35	1	however	however	ADV
fsr-3927	35	2	,	,	PUNCT
fsr-3927	35	3	as	as	ADP
fsr-3927	35	4	an	an	DET
fsr-3927	35	5	integrating	integrating	NOUN
fsr-3927	35	6	product	product	NOUN
fsr-3927	35	7	,	,	PUNCT
fsr-3927	35	8	cbs	cbs	PROPN
fsr-3927	35	9	may	may	AUX
fsr-3927	35	10	have	have	AUX
fsr-3927	35	11	had	have	VERB
fsr-3927	35	12	a	a	DET
fsr-3927	35	13	similar	similar	ADJ
fsr-3927	35	14	impact	impact	NOUN
fsr-3927	35	15	on	on	ADP
fsr-3927	35	16	cecf	cecf	PROPN
fsr-3927	35	17	discounts	discount	NOUN
fsr-3927	35	18	.	.	PUNCT
fsr-3927	36	1	nevertheless	nevertheless	ADV
fsr-3927	36	2	,	,	PUNCT
fsr-3927	36	3	since	since	SCONJ
fsr-3927	36	4	cbs	cbs	PROPN
fsr-3927	36	5	were	be	AUX
fsr-3927	36	6	introduced	introduce	VERB
fsr-3927	36	7	at	at	ADP
fsr-3927	36	8	almost	almost	ADV
fsr-3927	36	9	exactly	exactly	ADV
fsr-3927	36	10	the	the	DET
fsr-3927	36	11	same	same	ADJ
fsr-3927	36	12	time	time	NOUN
fsr-3927	36	13	as	as	ADP
fsr-3927	36	14	webs	webs	NOUN
fsr-3927	36	15	,	,	PUNCT
fsr-3927	36	16	were	be	AUX
fsr-3927	36	17	never	never	ADV
fsr-3927	36	18	accepted	accept	VERB
fsr-3927	36	19	by	by	ADP
fsr-3927	36	20	investors	investor	NOUN
fsr-3927	36	21	,	,	PUNCT
fsr-3927	36	22	and	and	CCONJ
fsr-3927	36	23	have	have	VERB
fsr-3927	36	24	similar	similar	ADJ
fsr-3927	36	25	impact	impact	NOUN
fsr-3927	36	26	,	,	PUNCT
fsr-3927	36	27	we	we	PRON
fsr-3927	36	28	couch	couch	VERB
fsr-3927	36	29	our	our	PRON
fsr-3927	36	30	discussion	discussion	NOUN
fsr-3927	36	31	in	in	ADP
fsr-3927	36	32	terms	term	NOUN
fsr-3927	36	33	of	of	ADP
fsr-3927	36	34	webs	webs	NOUN
fsr-3927	36	35	.	.	PUNCT
fsr-3927	37	1	this	this	DET
fsr-3927	37	2	paper	paper	NOUN
fsr-3927	37	3	uses	use	VERB
fsr-3927	37	4	a	a	DET
fsr-3927	37	5	modified	modify	VERB
fsr-3927	37	6	event	event	NOUN
fsr-3927	37	7	study	study	NOUN
fsr-3927	37	8	methodology	methodology	NOUN
fsr-3927	37	9	to	to	PART
fsr-3927	37	10	examine	examine	VERB
fsr-3927	37	11	the	the	DET
fsr-3927	37	12	impact	impact	NOUN
fsr-3927	37	13	of	of	ADP
fsr-3927	37	14	webs	webs	NOUN
fsr-3927	37	15	trading	trading	NOUN
fsr-3927	37	16	on	on	ADP
fsr-3927	37	17	mean	mean	ADJ
fsr-3927	37	18	cecf	cecf	NOUN
fsr-3927	37	19	percentage	percentage	NOUN
fsr-3927	37	20	discounts	discount	NOUN
fsr-3927	37	21	.	.	PUNCT
fsr-3927	38	1	we	we	PRON
fsr-3927	38	2	divide	divide	VERB
fsr-3927	38	3	cecfs	cecfs	NOUN
fsr-3927	38	4	into	into	ADP
fsr-3927	38	5	two	two	NUM
fsr-3927	38	6	groups	group	NOUN
fsr-3927	38	7	:	:	PUNCT
fsr-3927	38	8	those	those	PRON
fsr-3927	38	9	with	with	ADP
fsr-3927	38	10	and	and	CCONJ
fsr-3927	38	11	those	those	PRON
fsr-3927	38	12	without	without	ADP
fsr-3927	38	13	a	a	DET
fsr-3927	38	14	corresponding	corresponding	ADJ
fsr-3927	38	15	(	(	PUNCT
fsr-3927	38	16	same	same	ADJ
fsr-3927	38	17	country	country	NOUN
fsr-3927	38	18	)	)	PUNCT
fsr-3927	38	19	webs	webs	NOUN
fsr-3927	38	20	index	index	NOUN
fsr-3927	38	21	.	.	PUNCT
fsr-3927	39	1	we	we	PRON
fsr-3927	39	2	separately	separately	ADV
fsr-3927	39	3	estimate	estimate	VERB
fsr-3927	39	4	the	the	DET
fsr-3927	39	5	impact	impact	NOUN
fsr-3927	39	6	of	of	ADP
fsr-3927	39	7	webs	webs	NOUN
fsr-3927	39	8	trading	trading	NOUN
fsr-3927	39	9	on	on	ADP
fsr-3927	39	10	each	each	DET
fsr-3927	39	11	group	group	NOUN
fsr-3927	39	12	.	.	PUNCT
fsr-3927	40	1	we	we	PRON
fsr-3927	40	2	construct	construct	VERB
fsr-3927	40	3	tests	test	NOUN
fsr-3927	40	4	to	to	PART
fsr-3927	40	5	examine	examine	VERB
fsr-3927	40	6	the	the	DET
fsr-3927	40	7	short-	short-	NOUN
fsr-3927	40	8	,	,	PUNCT
fsr-3927	40	9	intermediate-	intermediate-	ADJ
fsr-3927	40	10	,	,	PUNCT
fsr-3927	40	11	and	and	CCONJ
fsr-3927	40	12	long	long	ADV
fsr-3927	40	13	-	-	PUNCT
fsr-3927	40	14	run	run	VERB
fsr-3927	40	15	impact	impact	NOUN
fsr-3927	40	16	of	of	ADP
fsr-3927	40	17	webs	webs	NOUN
fsr-3927	40	18	trading	trading	NOUN
fsr-3927	40	19	.	.	PUNCT
fsr-3927	41	1	we	we	PRON
fsr-3927	41	2	also	also	ADV
fsr-3927	41	3	use	use	VERB
fsr-3927	41	4	a	a	DET
fsr-3927	41	5	two	two	NUM
fsr-3927	41	6	-	-	PUNCT
fsr-3927	41	7	factor	factor	NOUN
fsr-3927	41	8	difference	difference	NOUN
fsr-3927	41	9	in	in	ADP
fsr-3927	41	10	means	mean	NOUN
fsr-3927	41	11	test	test	NOUN
fsr-3927	41	12	to	to	PART
fsr-3927	41	13	examine	examine	VERB
fsr-3927	41	14	the	the	DET
fsr-3927	41	15	differential	differential	ADJ
fsr-3927	41	16	impact	impact	NOUN
fsr-3927	41	17	on	on	ADP
fsr-3927	41	18	percentage	percentage	NOUN
fsr-3927	41	19	discounts	discount	NOUN
fsr-3927	41	20	for	for	ADP
fsr-3927	41	21	cecfs	cecfs	NOUN
fsr-3927	41	22	with	with	ADP
fsr-3927	41	23	and	and	CCONJ
fsr-3927	41	24	without	without	ADP
fsr-3927	41	25	a	a	DET
fsr-3927	41	26	corresponding	corresponding	ADJ
fsr-3927	41	27	webs	webs	NOUN
fsr-3927	41	28	index	index	NOUN
fsr-3927	41	29	.	.	PUNCT
fsr-3927	42	1	finally	finally	ADV
fsr-3927	42	2	,	,	PUNCT
fsr-3927	42	3	we	we	PRON
fsr-3927	42	4	use	use	VERB
fsr-3927	42	5	the	the	DET
fsr-3927	42	6	same	same	ADJ
fsr-3927	42	7	methodologies	methodology	NOUN
fsr-3927	42	8	to	to	PART
fsr-3927	42	9	examine	examine	VERB
fsr-3927	42	10	the	the	DET
fsr-3927	42	11	impact	impact	NOUN
fsr-3927	42	12	of	of	ADP
fsr-3927	42	13	webs	webs	NOUN
fsr-3927	42	14	on	on	ADP
fsr-3927	42	15	trading	trading	NOUN
fsr-3927	42	16	volumes	volume	NOUN
fsr-3927	42	17	.	.	PUNCT
fsr-3927	43	1	2	2	X
fsr-3927	43	2	.	.	X
fsr-3927	43	3	theory	theory	NOUN
fsr-3927	43	4	and	and	CCONJ
fsr-3927	43	5	literature	literature	PROPN
fsr-3927	43	6	review	review	NOUN
fsr-3927	43	7	considerable	considerable	ADJ
fsr-3927	43	8	effort	effort	NOUN
fsr-3927	43	9	has	have	AUX
fsr-3927	43	10	been	be	AUX
fsr-3927	43	11	spent	spend	VERB
fsr-3927	43	12	to	to	PART
fsr-3927	43	13	explain	explain	VERB
fsr-3927	43	14	deviations	deviation	NOUN
fsr-3927	43	15	between	between	ADP
fsr-3927	43	16	closed	close	VERB
fsr-3927	43	17	-	-	PUNCT
fsr-3927	43	18	end	end	NOUN
fsr-3927	43	19	fund	fund	NOUN
fsr-3927	43	20	prices	price	NOUN
fsr-3927	43	21	and	and	CCONJ
fsr-3927	43	22	navs	navs	NOUN
fsr-3927	43	23	.	.	PUNCT
fsr-3927	44	1	explanations	explanation	NOUN
fsr-3927	44	2	in	in	ADP
fsr-3927	44	3	the	the	DET
fsr-3927	44	4	literature	literature	NOUN
fsr-3927	44	5	fall	fall	VERB
fsr-3927	44	6	into	into	ADP
fsr-3927	44	7	two	two	NUM
fsr-3927	44	8	categories	category	NOUN
fsr-3927	44	9	:	:	PUNCT
fsr-3927	44	10	(	(	PUNCT
fsr-3927	44	11	1	1	X
fsr-3927	44	12	)	)	PUNCT
fsr-3927	44	13	behavioral	behavioral	ADJ
fsr-3927	44	14	theories	theory	NOUN
fsr-3927	44	15	,	,	PUNCT
fsr-3927	44	16	260	260	NUM
fsr-3927	44	17	m.	m.	NOUN
fsr-3927	44	18	o’connor	o’connor	ADV
fsr-3927	44	19	,	,	PUNCT
fsr-3927	44	20	e.a	e.a	PROPN
fsr-3927	44	21	.	.	PROPN
fsr-3927	44	22	downe	downe	PROPN
fsr-3927	44	23	/	/	SYM
fsr-3927	44	24	financial	financial	ADJ
fsr-3927	44	25	services	service	NOUN
fsr-3927	44	26	review	review	VERB
fsr-3927	44	27	9	9	NUM
fsr-3927	44	28	(	(	PUNCT
fsr-3927	44	29	2000	2000	NUM
fsr-3927	44	30	)	)	PUNCT
fsr-3927	45	1	259–275	259–275	NUM
fsr-3927	45	2	which	which	PRON
fsr-3927	45	3	focus	focus	VERB
fsr-3927	45	4	on	on	ADP
fsr-3927	45	5	the	the	DET
fsr-3927	45	6	irrational	irrational	ADJ
fsr-3927	45	7	expectations	expectation	NOUN
fsr-3927	45	8	of	of	ADP
fsr-3927	45	9	individual	individual	ADJ
fsr-3927	45	10	investors	investor	NOUN
fsr-3927	45	11	,	,	PUNCT
fsr-3927	45	12	and	and	CCONJ
fsr-3927	45	13	(	(	PUNCT
fsr-3927	45	14	2	2	X
fsr-3927	45	15	)	)	PUNCT
fsr-3927	45	16	economic	economic	ADJ
fsr-3927	45	17	theories	theory	NOUN
fsr-3927	45	18	that	that	PRON
fsr-3927	45	19	attempt	attempt	VERB
fsr-3927	45	20	to	to	PART
fsr-3927	45	21	explain	explain	VERB
fsr-3927	45	22	discounts	discount	NOUN
fsr-3927	45	23	within	within	ADP
fsr-3927	45	24	the	the	DET
fsr-3927	45	25	framework	framework	NOUN
fsr-3927	45	26	of	of	ADP
fsr-3927	45	27	the	the	DET
fsr-3927	45	28	efficient	efficient	ADJ
fsr-3927	45	29	market	market	NOUN
fsr-3927	45	30	hypothesis	hypothesis	NOUN
fsr-3927	45	31	.	.	PUNCT
fsr-3927	46	1	among	among	ADP
fsr-3927	46	2	the	the	DET
fsr-3927	46	3	behavioral	behavioral	ADJ
fsr-3927	46	4	proponents	proponent	NOUN
fsr-3927	46	5	,	,	PUNCT
fsr-3927	46	6	delong	delong	PROPN
fsr-3927	46	7	et	et	PROPN
fsr-3927	46	8	al	al	PROPN
fsr-3927	46	9	.	.	PROPN
fsr-3927	46	10	(	(	PUNCT
fsr-3927	46	11	1990	1990	NUM
fsr-3927	46	12	)	)	PUNCT
fsr-3927	46	13	and	and	CCONJ
fsr-3927	46	14	lee	lee	PROPN
fsr-3927	46	15	,	,	PUNCT
fsr-3927	46	16	shleifer	shleifer	VERB
fsr-3927	46	17	,	,	PUNCT
fsr-3927	46	18	and	and	CCONJ
fsr-3927	46	19	thaler	thaler	NOUN
fsr-3927	46	20	(	(	PUNCT
fsr-3927	46	21	1991	1991	NUM
fsr-3927	46	22	)	)	PUNCT
fsr-3927	46	23	attribute	attribute	NOUN
fsr-3927	46	24	fluctuations	fluctuation	NOUN
fsr-3927	46	25	of	of	ADP
fsr-3927	46	26	the	the	DET
fsr-3927	46	27	discount	discount	NOUN
fsr-3927	46	28	or	or	CCONJ
fsr-3927	46	29	premium	premium	NOUN
fsr-3927	46	30	to	to	ADP
fsr-3927	46	31	changes	change	NOUN
fsr-3927	46	32	in	in	ADP
fsr-3927	46	33	“	"	PUNCT
fsr-3927	46	34	investor	investor	NOUN
fsr-3927	46	35	sentiment	sentiment	NOUN
fsr-3927	46	36	.	.	PUNCT
fsr-3927	46	37	”	"	PUNCT
fsr-3927	47	1	these	these	DET
fsr-3927	47	2	authors	author	NOUN
fsr-3927	47	3	suggest	suggest	VERB
fsr-3927	47	4	that	that	SCONJ
fsr-3927	47	5	the	the	DET
fsr-3927	47	6	closed	close	VERB
fsr-3927	47	7	-	-	PUNCT
fsr-3927	47	8	end	end	NOUN
fsr-3927	47	9	fund	fund	NOUN
fsr-3927	47	10	market	market	NOUN
fsr-3927	47	11	in	in	ADP
fsr-3927	47	12	the	the	DET
fsr-3927	47	13	u.s	u.s	PROPN
fsr-3927	47	14	.	.	PROPN
fsr-3927	47	15	is	be	AUX
fsr-3927	47	16	characterized	characterize	VERB
fsr-3927	47	17	by	by	ADP
fsr-3927	47	18	negligible	negligible	ADJ
fsr-3927	47	19	institutional	institutional	ADJ
fsr-3927	47	20	participation	participation	NOUN
fsr-3927	47	21	and	and	CCONJ
fsr-3927	47	22	is	be	AUX
fsr-3927	47	23	dominated	dominate	VERB
fsr-3927	47	24	by	by	ADP
fsr-3927	47	25	individual	individual	ADJ
fsr-3927	47	26	investors	investor	NOUN
fsr-3927	47	27	,	,	PUNCT
fsr-3927	47	28	who	who	PRON
fsr-3927	47	29	are	be	AUX
fsr-3927	47	30	less	less	ADV
fsr-3927	47	31	likely	likely	ADJ
fsr-3927	47	32	to	to	PART
fsr-3927	47	33	trade	trade	VERB
fsr-3927	47	34	on	on	ADP
fsr-3927	47	35	fundamentals	fundamental	NOUN
fsr-3927	47	36	.	.	PUNCT
fsr-3927	48	1	the	the	DET
fsr-3927	48	2	behavioral	behavioral	ADJ
fsr-3927	48	3	model	model	NOUN
fsr-3927	48	4	suggests	suggest	VERB
fsr-3927	48	5	two	two	NUM
fsr-3927	48	6	possible	possible	ADJ
fsr-3927	48	7	reactions	reaction	NOUN
fsr-3927	48	8	to	to	ADP
fsr-3927	48	9	the	the	DET
fsr-3927	48	10	introduction	introduction	NOUN
fsr-3927	48	11	of	of	ADP
fsr-3927	48	12	webs	webs	NOUN
fsr-3927	48	13	trading	trading	NOUN
fsr-3927	48	14	.	.	PUNCT
fsr-3927	49	1	investors	investor	NOUN
fsr-3927	49	2	may	may	AUX
fsr-3927	49	3	fail	fail	VERB
fsr-3927	49	4	to	to	PART
fsr-3927	49	5	appreciate	appreciate	VERB
fsr-3927	49	6	the	the	DET
fsr-3927	49	7	importance	importance	NOUN
fsr-3927	49	8	of	of	ADP
fsr-3927	49	9	webs	webs	NOUN
fsr-3927	49	10	trading	trading	NOUN
fsr-3927	49	11	,	,	PUNCT
fsr-3927	49	12	in	in	ADP
fsr-3927	49	13	which	which	DET
fsr-3927	49	14	case	case	NOUN
fsr-3927	49	15	no	no	DET
fsr-3927	49	16	impact	impact	NOUN
fsr-3927	49	17	on	on	ADP
fsr-3927	49	18	discounts	discount	NOUN
fsr-3927	49	19	will	will	AUX
fsr-3927	49	20	be	be	AUX
fsr-3927	49	21	found	find	VERB
fsr-3927	49	22	.	.	PUNCT
fsr-3927	50	1	alternatively	alternatively	ADV
fsr-3927	50	2	,	,	PUNCT
fsr-3927	50	3	investors	investor	NOUN
fsr-3927	50	4	may	may	AUX
fsr-3927	50	5	irrationally	irrationally	ADV
fsr-3927	50	6	bid	bid	VERB
fsr-3927	50	7	down	down	ADP
fsr-3927	50	8	cecf	cecf	PROPN
fsr-3927	50	9	values	value	NOUN
fsr-3927	50	10	.	.	PUNCT
fsr-3927	51	1	in	in	ADP
fsr-3927	51	2	contrast	contrast	NOUN
fsr-3927	51	3	,	,	PUNCT
fsr-3927	51	4	economic	economic	ADJ
fsr-3927	51	5	explanations	explanation	NOUN
fsr-3927	51	6	suggest	suggest	VERB
fsr-3927	51	7	rational	rational	ADJ
fsr-3927	51	8	premiums	premium	NOUN
fsr-3927	51	9	and	and	CCONJ
fsr-3927	51	10	discounts	discount	NOUN
fsr-3927	51	11	.	.	PUNCT
fsr-3927	52	1	the	the	DET
fsr-3927	52	2	four	four	NUM
fsr-3927	52	3	classic	classic	ADJ
fsr-3927	52	4	economic	economic	ADJ
fsr-3927	52	5	explanations	explanation	NOUN
fsr-3927	52	6	include	include	VERB
fsr-3927	52	7	:	:	PUNCT
fsr-3927	52	8	(	(	PUNCT
fsr-3927	52	9	1	1	X
fsr-3927	52	10	)	)	PUNCT
fsr-3927	52	11	biases	bias	NOUN
fsr-3927	52	12	in	in	ADP
fsr-3927	52	13	navs	navs	PROPN
fsr-3927	52	14	,	,	PUNCT
fsr-3927	52	15	(	(	PUNCT
fsr-3927	52	16	2	2	X
fsr-3927	52	17	)	)	PUNCT
fsr-3927	52	18	tax	tax	NOUN
fsr-3927	52	19	timing	timing	NOUN
fsr-3927	52	20	issues	issue	NOUN
fsr-3927	52	21	,	,	PUNCT
fsr-3927	52	22	(	(	PUNCT
fsr-3927	52	23	3	3	X
fsr-3927	52	24	)	)	PUNCT
fsr-3927	52	25	agency	agency	NOUN
fsr-3927	52	26	costs	cost	NOUN
fsr-3927	52	27	,	,	PUNCT
fsr-3927	52	28	and	and	CCONJ
fsr-3927	52	29	(	(	PUNCT
fsr-3927	52	30	4	4	X
fsr-3927	52	31	)	)	PUNCT
fsr-3927	52	32	international	international	ADJ
fsr-3927	52	33	market	market	NOUN
fsr-3927	52	34	segmentation	segmentation	NOUN
fsr-3927	52	35	.	.	PUNCT
fsr-3927	53	1	nav	nav	NOUN
fsr-3927	53	2	biases	bias	NOUN
fsr-3927	53	3	reflect	reflect	VERB
fsr-3927	53	4	differences	difference	NOUN
fsr-3927	53	5	between	between	ADP
fsr-3927	53	6	personal	personal	ADJ
fsr-3927	53	7	and	and	CCONJ
fsr-3927	53	8	fund	fund	NOUN
fsr-3927	53	9	accounting	accounting	NOUN
fsr-3927	53	10	of	of	ADP
fsr-3927	53	11	capital	capital	NOUN
fsr-3927	53	12	gains	gain	NOUN
fsr-3927	53	13	liabilities	liability	NOUN
fsr-3927	53	14	.	.	PUNCT
fsr-3927	54	1	they	they	PRON
fsr-3927	54	2	also	also	ADV
fsr-3927	54	3	reflect	reflect	VERB
fsr-3927	54	4	rational	rational	ADJ
fsr-3927	54	5	discounting	discounting	NOUN
fsr-3927	54	6	of	of	ADP
fsr-3927	54	7	some	some	DET
fsr-3927	54	8	portfolio	portfolio	NOUN
fsr-3927	54	9	assets	asset	NOUN
fsr-3927	54	10	due	due	ADJ
fsr-3927	54	11	to	to	ADP
fsr-3927	54	12	liquidity	liquidity	NOUN
fsr-3927	54	13	concerns	concern	NOUN
fsr-3927	54	14	.	.	PUNCT
fsr-3927	55	1	however	however	ADV
fsr-3927	55	2	,	,	PUNCT
fsr-3927	55	3	neal	neal	PROPN
fsr-3927	55	4	and	and	CCONJ
fsr-3927	55	5	wheatley	wheatley	PROPN
fsr-3927	55	6	(	(	PUNCT
fsr-3927	55	7	1998	1998	NUM
fsr-3927	55	8	)	)	PUNCT
fsr-3927	55	9	find	find	VERB
fsr-3927	55	10	no	no	DET
fsr-3927	55	11	evidence	evidence	NOUN
fsr-3927	55	12	of	of	ADP
fsr-3927	55	13	a	a	DET
fsr-3927	55	14	liquidity	liquidity	NOUN
fsr-3927	55	15	effect	effect	NOUN
fsr-3927	55	16	in	in	ADP
fsr-3927	55	17	closed	close	VERB
fsr-3927	55	18	-	-	PUNCT
fsr-3927	55	19	end	end	NOUN
fsr-3927	55	20	fund	fund	NOUN
fsr-3927	55	21	discounts	discount	NOUN
fsr-3927	55	22	.	.	PUNCT
fsr-3927	56	1	the	the	DET
fsr-3927	56	2	tax	tax	NOUN
fsr-3927	56	3	timing	timing	NOUN
fsr-3927	56	4	explanation	explanation	NOUN
fsr-3927	56	5	states	state	NOUN
fsr-3927	56	6	that	that	PRON
fsr-3927	56	7	closed	close	VERB
fsr-3927	56	8	-	-	PUNCT
fsr-3927	56	9	end	end	NOUN
fsr-3927	56	10	fund	fund	NOUN
fsr-3927	56	11	investors	investor	NOUN
fsr-3927	56	12	give	give	VERB
fsr-3927	56	13	up	up	ADP
fsr-3927	56	14	valuable	valuable	ADJ
fsr-3927	56	15	tax	tax	NOUN
fsr-3927	56	16	-	-	PUNCT
fsr-3927	56	17	timing	timing	NOUN
fsr-3927	56	18	advantages	advantage	NOUN
fsr-3927	56	19	.	.	PUNCT
fsr-3927	57	1	seyhun	seyhun	PROPN
fsr-3927	57	2	and	and	CCONJ
fsr-3927	57	3	skinner	skinner	PROPN
fsr-3927	57	4	(	(	PUNCT
fsr-3927	57	5	1994	1994	NUM
fsr-3927	57	6	)	)	PUNCT
fsr-3927	57	7	and	and	CCONJ
fsr-3927	57	8	brickley	brickley	ADJ
fsr-3927	57	9	,	,	PUNCT
fsr-3927	57	10	manaster	manaster	NOUN
fsr-3927	57	11	,	,	PUNCT
fsr-3927	57	12	and	and	CCONJ
fsr-3927	57	13	schalheim	schalheim	NOUN
fsr-3927	57	14	(	(	PUNCT
fsr-3927	57	15	1991	1991	NUM
fsr-3927	57	16	)	)	PUNCT
fsr-3927	57	17	find	find	VERB
fsr-3927	57	18	empirical	empirical	ADJ
fsr-3927	57	19	support	support	NOUN
fsr-3927	57	20	for	for	ADP
fsr-3927	57	21	a	a	DET
fsr-3927	57	22	tax	tax	NOUN
fsr-3927	57	23	-	-	PUNCT
fsr-3927	57	24	timing	timing	NOUN
fsr-3927	57	25	effect	effect	NOUN
fsr-3927	57	26	.	.	PUNCT
fsr-3927	58	1	the	the	DET
fsr-3927	58	2	agency	agency	NOUN
fsr-3927	58	3	cost	cost	NOUN
fsr-3927	58	4	explanation	explanation	NOUN
fsr-3927	58	5	suggests	suggest	VERB
fsr-3927	58	6	that	that	SCONJ
fsr-3927	58	7	discounts	discount	NOUN
fsr-3927	58	8	are	be	AUX
fsr-3927	58	9	,	,	PUNCT
fsr-3927	58	10	in	in	ADP
fsr-3927	58	11	part	part	NOUN
fsr-3927	58	12	,	,	PUNCT
fsr-3927	58	13	a	a	DET
fsr-3927	58	14	rational	rational	ADJ
fsr-3927	58	15	response	response	NOUN
fsr-3927	58	16	to	to	ADP
fsr-3927	58	17	excessive	excessive	ADJ
fsr-3927	58	18	management	management	NOUN
fsr-3927	58	19	fees	fee	NOUN
fsr-3927	58	20	,	,	PUNCT
fsr-3927	58	21	poor	poor	ADJ
fsr-3927	58	22	management	management	NOUN
fsr-3927	58	23	performance	performance	NOUN
fsr-3927	58	24	,	,	PUNCT
fsr-3927	58	25	and	and	CCONJ
fsr-3927	58	26	managerial	managerial	ADJ
fsr-3927	58	27	entrenchment	entrenchment	NOUN
fsr-3927	58	28	.	.	PUNCT
fsr-3927	59	1	pontiff	pontiff	ADJ
fsr-3927	59	2	(	(	PUNCT
fsr-3927	59	3	1995	1995	NUM
fsr-3927	59	4	)	)	PUNCT
fsr-3927	59	5	and	and	CCONJ
fsr-3927	59	6	barclay	barclay	PROPN
fsr-3927	59	7	,	,	PUNCT
fsr-3927	59	8	holderness	holderness	PROPN
fsr-3927	59	9	,	,	PUNCT
fsr-3927	59	10	and	and	CCONJ
fsr-3927	59	11	pontiff	pontiff	ADJ
fsr-3927	59	12	(	(	PUNCT
fsr-3927	59	13	1993	1993	NUM
fsr-3927	59	14	)	)	PUNCT
fsr-3927	59	15	find	find	VERB
fsr-3927	59	16	evidence	evidence	NOUN
fsr-3927	59	17	that	that	SCONJ
fsr-3927	59	18	agency	agency	NOUN
fsr-3927	59	19	costs	cost	NOUN
fsr-3927	59	20	are	be	AUX
fsr-3927	59	21	reflected	reflect	VERB
fsr-3927	59	22	in	in	ADP
fsr-3927	59	23	closed	close	VERB
fsr-3927	59	24	-	-	PUNCT
fsr-3927	59	25	end	end	NOUN
fsr-3927	59	26	fund	fund	NOUN
fsr-3927	59	27	prices	price	NOUN
fsr-3927	59	28	.	.	PUNCT
fsr-3927	60	1	richard	richard	PROPN
fsr-3927	60	2	and	and	CCONJ
fsr-3927	60	3	wiggins	wiggins	PROPN
fsr-3927	60	4	(	(	PUNCT
fsr-3927	60	5	2000	2000	NUM
fsr-3927	60	6	)	)	PUNCT
fsr-3927	60	7	find	find	VERB
fsr-3927	60	8	that	that	SCONJ
fsr-3927	60	9	cecf	cecf	PROPN
fsr-3927	60	10	premiums	premium	NOUN
fsr-3927	60	11	are	be	AUX
fsr-3927	60	12	able	able	ADJ
fsr-3927	60	13	to	to	PART
fsr-3927	60	14	predict	predict	VERB
fsr-3927	60	15	nav	nav	NOUN
fsr-3927	60	16	returns	return	NOUN
fsr-3927	60	17	after	after	ADP
fsr-3927	60	18	controlling	control	VERB
fsr-3927	60	19	for	for	ADP
fsr-3927	60	20	the	the	DET
fsr-3927	60	21	return	return	NOUN
fsr-3927	60	22	on	on	ADP
fsr-3927	60	23	foreign	foreign	ADJ
fsr-3927	60	24	markets	market	NOUN
fsr-3927	60	25	,	,	PUNCT
fsr-3927	60	26	indicating	indicate	VERB
fsr-3927	60	27	that	that	SCONJ
fsr-3927	60	28	at	at	ADV
fsr-3927	60	29	least	least	ADJ
fsr-3927	60	30	part	part	NOUN
fsr-3927	60	31	of	of	ADP
fsr-3927	60	32	the	the	DET
fsr-3927	60	33	discount	discount	NOUN
fsr-3927	60	34	reflects	reflect	VERB
fsr-3927	60	35	rational	rational	ADJ
fsr-3927	60	36	assessments	assessment	NOUN
fsr-3927	60	37	of	of	ADP
fsr-3927	60	38	managerial	managerial	ADJ
fsr-3927	60	39	abilities	ability	NOUN
fsr-3927	60	40	.	.	PUNCT
fsr-3927	61	1	finally	finally	ADV
fsr-3927	61	2	,	,	PUNCT
fsr-3927	61	3	the	the	DET
fsr-3927	61	4	market	market	NOUN
fsr-3927	61	5	segmentation	segmentation	NOUN
fsr-3927	61	6	explanation	explanation	NOUN
fsr-3927	61	7	suggests	suggest	VERB
fsr-3927	61	8	that	that	SCONJ
fsr-3927	61	9	if	if	SCONJ
fsr-3927	61	10	a	a	DET
fsr-3927	61	11	closed	close	VERB
fsr-3927	61	12	-	-	PUNCT
fsr-3927	61	13	end	end	NOUN
fsr-3927	61	14	fund	fund	NOUN
fsr-3927	61	15	provides	provide	VERB
fsr-3927	61	16	access	access	NOUN
fsr-3927	61	17	to	to	ADP
fsr-3927	61	18	a	a	DET
fsr-3927	61	19	restricted	restricted	ADJ
fsr-3927	61	20	market	market	NOUN
fsr-3927	61	21	,	,	PUNCT
fsr-3927	61	22	fund	fund	NOUN
fsr-3927	61	23	prices	price	NOUN
fsr-3927	61	24	may	may	AUX
fsr-3927	61	25	reflect	reflect	VERB
fsr-3927	61	26	a	a	DET
fsr-3927	61	27	rational	rational	ADJ
fsr-3927	61	28	premium	premium	NOUN
fsr-3927	61	29	.	.	PUNCT
fsr-3927	62	1	the	the	DET
fsr-3927	62	2	restrictions	restriction	NOUN
fsr-3927	62	3	need	need	AUX
fsr-3927	62	4	not	not	PART
fsr-3927	62	5	be	be	AUX
fsr-3927	62	6	governmentally	governmentally	ADV
fsr-3927	62	7	imposed	impose	VERB
fsr-3927	62	8	.	.	PUNCT
fsr-3927	63	1	they	they	PRON
fsr-3927	63	2	may	may	AUX
fsr-3927	63	3	simply	simply	ADV
fsr-3927	63	4	reflect	reflect	VERB
fsr-3927	63	5	the	the	DET
fsr-3927	63	6	cost	cost	NOUN
fsr-3927	63	7	to	to	ADP
fsr-3927	63	8	domestic	domestic	ADJ
fsr-3927	63	9	investors	investor	NOUN
fsr-3927	63	10	of	of	ADP
fsr-3927	63	11	creating	create	VERB
fsr-3927	63	12	well	well	ADV
fsr-3927	63	13	-	-	PUNCT
fsr-3927	63	14	diversified	diversify	VERB
fsr-3927	63	15	,	,	PUNCT
fsr-3927	63	16	single	single	ADJ
fsr-3927	63	17	-	-	PUNCT
fsr-3927	63	18	country	country	NOUN
fsr-3927	63	19	foreign	foreign	ADJ
fsr-3927	63	20	investments	investment	NOUN
fsr-3927	63	21	.	.	PUNCT
fsr-3927	64	1	bosnerneal	bosnerneal	NOUN
fsr-3927	64	2	et	et	PROPN
fsr-3927	64	3	al	al	PROPN
fsr-3927	64	4	.	.	PROPN
fsr-3927	65	1	(	(	PUNCT
fsr-3927	65	2	1990	1990	NUM
fsr-3927	65	3	)	)	PUNCT
fsr-3927	65	4	,	,	PUNCT
fsr-3927	65	5	errunza	errunza	ADJ
fsr-3927	65	6	(	(	PUNCT
fsr-3927	65	7	1991	1991	NUM
fsr-3927	65	8	)	)	PUNCT
fsr-3927	65	9	,	,	PUNCT
fsr-3927	65	10	and	and	CCONJ
fsr-3927	65	11	levy	levy	NOUN
fsr-3927	65	12	-	-	PUNCT
fsr-3927	65	13	yeyati	yeyati	PROPN
fsr-3927	65	14	and	and	CCONJ
fsr-3927	65	15	ubide	ubide	ADV
fsr-3927	65	16	(	(	PUNCT
fsr-3927	65	17	1998	1998	NUM
fsr-3927	65	18	)	)	PUNCT
fsr-3927	65	19	find	find	VERB
fsr-3927	65	20	evidence	evidence	NOUN
fsr-3927	65	21	of	of	ADP
fsr-3927	65	22	a	a	DET
fsr-3927	65	23	market	market	NOUN
fsr-3927	65	24	segmentation	segmentation	NOUN
fsr-3927	65	25	premium	premium	NOUN
fsr-3927	65	26	in	in	ADP
fsr-3927	65	27	cecf	cecf	PROPN
fsr-3927	65	28	prices	price	NOUN
fsr-3927	65	29	.	.	PUNCT
fsr-3927	66	1	economic	economic	ADJ
fsr-3927	66	2	explanations	explanation	NOUN
fsr-3927	66	3	suggest	suggest	VERB
fsr-3927	66	4	webs	webs	NOUN
fsr-3927	66	5	trading	trading	NOUN
fsr-3927	66	6	should	should	AUX
fsr-3927	66	7	tend	tend	VERB
fsr-3927	66	8	to	to	PART
fsr-3927	66	9	reduce	reduce	VERB
fsr-3927	66	10	market	market	NOUN
fsr-3927	66	11	segmentation	segmentation	NOUN
fsr-3927	66	12	premiums	premium	NOUN
fsr-3927	66	13	,	,	PUNCT
fsr-3927	66	14	and	and	CCONJ
fsr-3927	66	15	the	the	DET
fsr-3927	66	16	effect	effect	NOUN
fsr-3927	66	17	should	should	AUX
fsr-3927	66	18	be	be	AUX
fsr-3927	66	19	more	more	ADV
fsr-3927	66	20	evident	evident	ADJ
fsr-3927	66	21	in	in	ADP
fsr-3927	66	22	funds	fund	NOUN
fsr-3927	66	23	with	with	ADP
fsr-3927	66	24	a	a	DET
fsr-3927	66	25	corresponding	corresponding	ADJ
fsr-3927	66	26	webs	webs	NOUN
fsr-3927	66	27	index	index	NOUN
fsr-3927	66	28	.	.	PUNCT
fsr-3927	67	1	further	far	ADV
fsr-3927	67	2	,	,	PUNCT
fsr-3927	67	3	some	some	DET
fsr-3927	67	4	investors	investor	NOUN
fsr-3927	67	5	may	may	AUX
fsr-3927	67	6	abandon	abandon	VERB
fsr-3927	67	7	excessive	excessive	ADJ
fsr-3927	67	8	fee	fee	NOUN
fsr-3927	67	9	cecfs	cecfs	NOUN
fsr-3927	67	10	for	for	ADP
fsr-3927	67	11	lower	low	ADJ
fsr-3927	67	12	fee	fee	NOUN
fsr-3927	67	13	webs	webs	NOUN
fsr-3927	67	14	,	,	PUNCT
fsr-3927	67	15	putting	put	VERB
fsr-3927	67	16	downward	downward	ADJ
fsr-3927	67	17	pressure	pressure	NOUN
fsr-3927	67	18	on	on	ADP
fsr-3927	67	19	prices	price	NOUN
fsr-3927	67	20	and	and	CCONJ
fsr-3927	67	21	increasing	increase	VERB
fsr-3927	67	22	discounts	discount	NOUN
fsr-3927	67	23	.	.	PUNCT
fsr-3927	68	1	again	again	ADV
fsr-3927	68	2	,	,	PUNCT
fsr-3927	68	3	the	the	DET
fsr-3927	68	4	effect	effect	NOUN
fsr-3927	68	5	would	would	AUX
fsr-3927	68	6	tend	tend	VERB
fsr-3927	68	7	to	to	PART
fsr-3927	68	8	be	be	AUX
fsr-3927	68	9	more	more	ADV
fsr-3927	68	10	evident	evident	ADJ
fsr-3927	68	11	in	in	ADP
fsr-3927	68	12	cecfs	cecfs	NOUN
fsr-3927	68	13	with	with	ADP
fsr-3927	68	14	a	a	DET
fsr-3927	68	15	corresponding	corresponding	ADJ
fsr-3927	68	16	webs	webs	NOUN
fsr-3927	68	17	index	index	NOUN
fsr-3927	68	18	.	.	PUNCT
fsr-3927	69	1	unlike	unlike	ADP
fsr-3927	69	2	an	an	DET
fsr-3927	69	3	overreaction	overreaction	NOUN
fsr-3927	69	4	,	,	PUNCT
fsr-3927	69	5	these	these	DET
fsr-3927	69	6	changes	change	NOUN
fsr-3927	69	7	would	would	AUX
fsr-3927	69	8	tend	tend	VERB
fsr-3927	69	9	to	to	PART
fsr-3927	69	10	be	be	AUX
fsr-3927	69	11	permanent	permanent	ADJ
fsr-3927	69	12	.	.	PUNCT
fsr-3927	70	1	the	the	DET
fsr-3927	70	2	primary	primary	ADJ
fsr-3927	70	3	motivation	motivation	NOUN
fsr-3927	70	4	for	for	ADP
fsr-3927	70	5	our	our	PRON
fsr-3927	70	6	paper	paper	NOUN
fsr-3927	70	7	is	be	AUX
fsr-3927	70	8	to	to	PART
fsr-3927	70	9	empirically	empirically	ADV
fsr-3927	70	10	examine	examine	VERB
fsr-3927	70	11	the	the	DET
fsr-3927	70	12	effect	effect	NOUN
fsr-3927	70	13	of	of	ADP
fsr-3927	70	14	webs	webs	NOUN
fsr-3927	70	15	trading	trading	NOUN
fsr-3927	70	16	on	on	ADP
fsr-3927	70	17	cecf	cecf	PROPN
fsr-3927	70	18	discounts	discount	NOUN
fsr-3927	70	19	.	.	PUNCT
fsr-3927	71	1	our	our	PRON
fsr-3927	71	2	tests	test	NOUN
fsr-3927	71	3	also	also	ADV
fsr-3927	71	4	shed	shed	VERB
fsr-3927	71	5	light	light	NOUN
fsr-3927	71	6	on	on	ADP
fsr-3927	71	7	theoretical	theoretical	ADJ
fsr-3927	71	8	explanations	explanation	NOUN
fsr-3927	71	9	for	for	ADP
fsr-3927	71	10	closedend	closedend	NOUN
fsr-3927	71	11	fund	fund	NOUN
fsr-3927	71	12	discounts	discount	NOUN
fsr-3927	71	13	.	.	PUNCT
fsr-3927	72	1	in	in	ADP
fsr-3927	72	2	particular	particular	ADJ
fsr-3927	72	3	,	,	PUNCT
fsr-3927	72	4	the	the	DET
fsr-3927	72	5	behavioral	behavioral	ADJ
fsr-3927	72	6	model	model	NOUN
fsr-3927	72	7	will	will	AUX
fsr-3927	72	8	be	be	AUX
fsr-3927	72	9	supported	support	VERB
fsr-3927	72	10	by	by	ADP
fsr-3927	72	11	either	either	ADV
fsr-3927	72	12	:	:	PUNCT
fsr-3927	72	13	(	(	PUNCT
fsr-3927	72	14	1	1	X
fsr-3927	72	15	)	)	PUNCT
fsr-3927	72	16	no	no	DET
fsr-3927	72	17	change	change	NOUN
fsr-3927	72	18	in	in	ADP
fsr-3927	72	19	cecf	cecf	NOUN
fsr-3927	72	20	discounts	discount	NOUN
fsr-3927	72	21	,	,	PUNCT
fsr-3927	72	22	or	or	CCONJ
fsr-3927	72	23	(	(	PUNCT
fsr-3927	72	24	2	2	X
fsr-3927	72	25	)	)	PUNCT
fsr-3927	72	26	a	a	DET
fsr-3927	72	27	reversal	reversal	NOUN
fsr-3927	72	28	pattern	pattern	NOUN
fsr-3927	72	29	in	in	ADP
fsr-3927	72	30	which	which	PRON
fsr-3927	72	31	discounts	discount	NOUN
fsr-3927	72	32	initially	initially	ADV
fsr-3927	72	33	increase	increase	VERB
fsr-3927	72	34	but	but	CCONJ
fsr-3927	72	35	subsequently	subsequently	ADV
fsr-3927	72	36	fall	fall	VERB
fsr-3927	72	37	.	.	PUNCT
fsr-3927	73	1	on	on	ADP
fsr-3927	73	2	the	the	DET
fsr-3927	73	3	other	other	ADJ
fsr-3927	73	4	hand	hand	NOUN
fsr-3927	73	5	,	,	PUNCT
fsr-3927	73	6	a	a	DET
fsr-3927	73	7	permanent	permanent	ADJ
fsr-3927	73	8	increase	increase	NOUN
fsr-3927	73	9	in	in	ADP
fsr-3927	73	10	discounts	discount	NOUN
fsr-3927	73	11	favors	favor	VERB
fsr-3927	73	12	the	the	DET
fsr-3927	73	13	economic	economic	ADJ
fsr-3927	73	14	model	model	NOUN
fsr-3927	73	15	.	.	PUNCT
fsr-3927	74	1	since	since	SCONJ
fsr-3927	74	2	our	our	PRON
fsr-3927	74	3	tests	test	NOUN
fsr-3927	74	4	on	on	ADP
fsr-3927	74	5	percentage	percentage	NOUN
fsr-3927	74	6	discounts	discount	NOUN
fsr-3927	74	7	do	do	AUX
fsr-3927	74	8	not	not	PART
fsr-3927	74	9	specifically	specifically	ADV
fsr-3927	74	10	differentiate	differentiate	VERB
fsr-3927	74	11	between	between	ADP
fsr-3927	74	12	a	a	DET
fsr-3927	74	13	market	market	NOUN
fsr-3927	74	14	segmentation	segmentation	NOUN
fsr-3927	74	15	premium	premium	NOUN
fsr-3927	74	16	effect	effect	NOUN
fsr-3927	74	17	and	and	CCONJ
fsr-3927	74	18	the	the	DET
fsr-3927	74	19	agency	agency	NOUN
fsr-3927	74	20	cost	cost	NOUN
fsr-3927	74	21	effect	effect	NOUN
fsr-3927	74	22	,	,	PUNCT
fsr-3927	74	23	we	we	PRON
fsr-3927	74	24	also	also	ADV
fsr-3927	74	25	examine	examine	VERB
fsr-3927	74	26	the	the	DET
fsr-3927	74	27	impact	impact	NOUN
fsr-3927	74	28	261	261	NUM
fsr-3927	74	29	m.	m.	NOUN
fsr-3927	74	30	o’connor	o’connor	ADV
fsr-3927	74	31	,	,	PUNCT
fsr-3927	74	32	e.a	e.a	PROPN
fsr-3927	74	33	.	.	PROPN
fsr-3927	74	34	downe	downe	PROPN
fsr-3927	74	35	/	/	SYM
fsr-3927	74	36	financial	financial	ADJ
fsr-3927	74	37	services	service	NOUN
fsr-3927	74	38	review	review	VERB
fsr-3927	74	39	9	9	NUM
fsr-3927	74	40	(	(	PUNCT
fsr-3927	74	41	2000	2000	NUM
fsr-3927	74	42	)	)	PUNCT
fsr-3927	75	1	259–275	259–275	NUM
fsr-3927	75	2	on	on	ADP
fsr-3927	75	3	cecf	cecf	PROPN
fsr-3927	75	4	trading	trading	NOUN
fsr-3927	75	5	volume	volume	NOUN
fsr-3927	75	6	.	.	PUNCT
fsr-3927	76	1	if	if	SCONJ
fsr-3927	76	2	the	the	DET
fsr-3927	76	3	agency	agency	NOUN
fsr-3927	76	4	explanation	explanation	NOUN
fsr-3927	76	5	is	be	AUX
fsr-3927	76	6	correct	correct	ADJ
fsr-3927	76	7	,	,	PUNCT
fsr-3927	76	8	an	an	DET
fsr-3927	76	9	impact	impact	NOUN
fsr-3927	76	10	on	on	ADP
fsr-3927	76	11	cecf	cecf	PROPN
fsr-3927	76	12	volume	volume	NOUN
fsr-3927	76	13	should	should	AUX
fsr-3927	76	14	be	be	AUX
fsr-3927	76	15	evident	evident	ADJ
fsr-3927	76	16	.	.	PUNCT
fsr-3927	77	1	3	3	X
fsr-3927	77	2	.	.	X
fsr-3927	77	3	data	datum	NOUN
fsr-3927	77	4	and	and	CCONJ
fsr-3927	77	5	methodology	methodology	NOUN
fsr-3927	77	6	the	the	DET
fsr-3927	77	7	data	datum	NOUN
fsr-3927	77	8	for	for	ADP
fsr-3927	77	9	this	this	DET
fsr-3927	77	10	study	study	NOUN
fsr-3927	77	11	are	be	AUX
fsr-3927	77	12	from	from	ADP
fsr-3927	77	13	thewiesenberger	thewiesenberger	NOUN
fsr-3927	77	14	investment	investment	NOUN
fsr-3927	77	15	company	company	NOUN
fsr-3927	77	16	.	.	PUNCT
fsr-3927	78	1	our	our	PRON
fsr-3927	78	2	sample	sample	NOUN
fsr-3927	78	3	comprises	comprise	VERB
fsr-3927	78	4	weekly	weekly	ADJ
fsr-3927	78	5	closing	closing	NOUN
fsr-3927	78	6	market	market	NOUN
fsr-3927	78	7	prices	price	NOUN
fsr-3927	78	8	and	and	CCONJ
fsr-3927	78	9	navs	navs	VERB
fsr-3927	78	10	.	.	PUNCT
fsr-3927	79	1	the	the	DET
fsr-3927	79	2	data	datum	NOUN
fsr-3927	79	3	also	also	ADV
fsr-3927	79	4	include	include	VERB
fsr-3927	79	5	average	average	ADJ
fsr-3927	79	6	daily	daily	ADJ
fsr-3927	79	7	trading	trading	NOUN
fsr-3927	79	8	volumes	volume	NOUN
fsr-3927	79	9	(	(	PUNCT
fsr-3927	79	10	in	in	ADP
fsr-3927	79	11	shares	share	NOUN
fsr-3927	79	12	transacted	transact	VERB
fsr-3927	79	13	)	)	PUNCT
fsr-3927	79	14	for	for	ADP
fsr-3927	79	15	each	each	DET
fsr-3927	79	16	week	week	NOUN
fsr-3927	79	17	in	in	ADP
fsr-3927	79	18	the	the	DET
fsr-3927	79	19	study	study	NOUN
fsr-3927	79	20	.	.	PUNCT
fsr-3927	80	1	the	the	DET
fsr-3927	80	2	discount	discount	NOUN
fsr-3927	80	3	is	be	AUX
fsr-3927	80	4	determined	determine	VERB
fsr-3927	80	5	as	as	ADP
fsr-3927	80	6	the	the	DET
fsr-3927	80	7	nav	nav	NOUN
fsr-3927	80	8	minus	minus	ADP
fsr-3927	80	9	the	the	DET
fsr-3927	80	10	price	price	NOUN
fsr-3927	80	11	of	of	ADP
fsr-3927	80	12	the	the	DET
fsr-3927	80	13	fund	fund	NOUN
fsr-3927	80	14	,	,	PUNCT
fsr-3927	80	15	and	and	CCONJ
fsr-3927	80	16	the	the	DET
fsr-3927	80	17	percentage	percentage	NOUN
fsr-3927	80	18	discount	discount	NOUN
fsr-3927	80	19	is	be	AUX
fsr-3927	80	20	defined	define	VERB
fsr-3927	80	21	as	as	ADP
fsr-3927	80	22	the	the	DET
fsr-3927	80	23	discount	discount	NOUN
fsr-3927	80	24	divided	divide	VERB
fsr-3927	80	25	by	by	ADP
fsr-3927	80	26	the	the	DET
fsr-3927	80	27	nav	nav	NOUN
fsr-3927	80	28	.	.	PUNCT
fsr-3927	81	1	the	the	DET
fsr-3927	81	2	data	datum	NOUN
fsr-3927	81	3	are	be	AUX
fsr-3927	81	4	from	from	ADP
fsr-3927	81	5	all	all	DET
fsr-3927	81	6	cecfs	cecfs	NOUN
fsr-3927	81	7	listed	list	VERB
fsr-3927	81	8	on	on	ADP
fsr-3927	81	9	the	the	DET
fsr-3927	81	10	new	new	PROPN
fsr-3927	81	11	york	york	PROPN
fsr-3927	81	12	stock	stock	PROPN
fsr-3927	81	13	exchange	exchange	PROPN
fsr-3927	81	14	and	and	CCONJ
fsr-3927	81	15	american	american	ADJ
fsr-3927	81	16	stock	stock	PROPN
fsr-3927	81	17	exchange	exchange	PROPN
fsr-3927	81	18	.	.	PUNCT
fsr-3927	82	1	we	we	PRON
fsr-3927	82	2	also	also	ADV
fsr-3927	82	3	include	include	VERB
fsr-3927	82	4	a	a	DET
fsr-3927	82	5	country	country	NOUN
fsr-3927	82	6	-	-	PUNCT
fsr-3927	82	7	specific	specific	ADJ
fsr-3927	82	8	canadian	canadian	ADJ
fsr-3927	82	9	fund	fund	NOUN
fsr-3927	82	10	that	that	PRON
fsr-3927	82	11	trades	trade	VERB
fsr-3927	82	12	on	on	ADP
fsr-3927	82	13	the	the	DET
fsr-3927	82	14	toronto	toronto	PROPN
fsr-3927	82	15	stock	stock	PROPN
fsr-3927	82	16	exchange	exchange	PROPN
fsr-3927	82	17	,	,	PUNCT
fsr-3927	82	18	because	because	SCONJ
fsr-3927	82	19	a	a	DET
fsr-3927	82	20	canadian	canadian	ADJ
fsr-3927	82	21	webs	webs	NOUN
fsr-3927	82	22	is	be	AUX
fsr-3927	82	23	listed	list	VERB
fsr-3927	82	24	.	.	PUNCT
fsr-3927	83	1	all	all	PRON
fsr-3927	83	2	of	of	ADP
fsr-3927	83	3	the	the	DET
fsr-3927	83	4	funds	fund	NOUN
fsr-3927	83	5	are	be	AUX
fsr-3927	83	6	categorized	categorize	VERB
fsr-3927	83	7	by	by	ADP
fsr-3927	83	8	thewall	thewall	PROPN
fsr-3927	83	9	street	street	PROPN
fsr-3927	83	10	journal(wsj	journal(wsj	PROPN
fsr-3927	83	11	)	)	PUNCT
fsr-3927	83	12	as	as	ADP
fsr-3927	83	13	“	"	PUNCT
fsr-3927	83	14	specialized	specialized	ADJ
fsr-3927	83	15	equity	equity	NOUN
fsr-3927	83	16	funds	fund	NOUN
fsr-3927	83	17	.	.	PUNCT
fsr-3927	83	18	”	"	PUNCT
fsr-3927	84	1	we	we	PRON
fsr-3927	84	2	limit	limit	VERB
fsr-3927	84	3	this	this	DET
fsr-3927	84	4	study	study	NOUN
fsr-3927	84	5	to	to	ADP
fsr-3927	84	6	country	country	NOUN
fsr-3927	84	7	specific	specific	ADJ
fsr-3927	84	8	funds	fund	NOUN
fsr-3927	84	9	.	.	PUNCT
fsr-3927	85	1	we	we	PRON
fsr-3927	85	2	exclude	exclude	VERB
fsr-3927	85	3	blended	blended	ADJ
fsr-3927	85	4	funds	fund	NOUN
fsr-3927	85	5	(	(	PUNCT
fsr-3927	85	6	funds	fund	NOUN
fsr-3927	85	7	that	that	PRON
fsr-3927	85	8	invest	invest	VERB
fsr-3927	85	9	in	in	ADP
fsr-3927	85	10	more	more	ADJ
fsr-3927	85	11	than	than	ADP
fsr-3927	85	12	one	one	NUM
fsr-3927	85	13	country	country	NOUN
fsr-3927	85	14	)	)	PUNCT
fsr-3927	85	15	because	because	SCONJ
fsr-3927	85	16	the	the	DET
fsr-3927	85	17	impact	impact	NOUN
fsr-3927	85	18	of	of	ADP
fsr-3927	85	19	webs	webs	NOUN
fsr-3927	85	20	trading	trading	NOUN
fsr-3927	85	21	may	may	AUX
fsr-3927	85	22	be	be	AUX
fsr-3927	85	23	ambiguous	ambiguous	ADJ
fsr-3927	85	24	.	.	PUNCT
fsr-3927	86	1	to	to	PART
fsr-3927	86	2	be	be	AUX
fsr-3927	86	3	included	include	VERB
fsr-3927	86	4	in	in	ADP
fsr-3927	86	5	the	the	DET
fsr-3927	86	6	study	study	NOUN
fsr-3927	86	7	we	we	PRON
fsr-3927	86	8	require	require	VERB
fsr-3927	86	9	funds	fund	NOUN
fsr-3927	86	10	to	to	PART
fsr-3927	86	11	trade	trade	VERB
fsr-3927	86	12	over	over	ADP
fsr-3927	86	13	the	the	DET
fsr-3927	86	14	160	160	NUM
fsr-3927	86	15	-	-	PUNCT
fsr-3927	86	16	week	week	NOUN
fsr-3927	86	17	time	time	NOUN
fsr-3927	86	18	period	period	NOUN
fsr-3927	86	19	from	from	ADP
fsr-3927	86	20	march	march	PROPN
fsr-3927	86	21	18	18	NUM
fsr-3927	86	22	,	,	PUNCT
fsr-3927	86	23	1994	1994	NUM
fsr-3927	86	24	through	through	ADP
fsr-3927	86	25	april	april	PROPN
fsr-3927	86	26	4	4	NUM
fsr-3927	86	27	,	,	PUNCT
fsr-3927	86	28	1997	1997	NUM
fsr-3927	86	29	.	.	PUNCT
fsr-3927	87	1	since	since	SCONJ
fsr-3927	87	2	the	the	DET
fsr-3927	87	3	introduction	introduction	NOUN
fsr-3927	87	4	of	of	ADP
fsr-3927	87	5	a	a	DET
fsr-3927	87	6	webs	webs	NOUN
fsr-3927	87	7	index	index	NOUN
fsr-3927	87	8	may	may	AUX
fsr-3927	87	9	have	have	VERB
fsr-3927	87	10	a	a	DET
fsr-3927	87	11	stronger	strong	ADJ
fsr-3927	87	12	impact	impact	NOUN
fsr-3927	87	13	on	on	ADP
fsr-3927	87	14	a	a	DET
fsr-3927	87	15	cecf	cecf	NOUN
fsr-3927	87	16	from	from	ADP
fsr-3927	87	17	the	the	DET
fsr-3927	87	18	same	same	ADJ
fsr-3927	87	19	country	country	NOUN
fsr-3927	87	20	,	,	PUNCT
fsr-3927	87	21	we	we	PRON
fsr-3927	87	22	divide	divide	VERB
fsr-3927	87	23	the	the	DET
fsr-3927	87	24	sample	sample	NOUN
fsr-3927	87	25	into	into	ADP
fsr-3927	87	26	funds	fund	NOUN
fsr-3927	87	27	with	with	ADP
fsr-3927	87	28	and	and	CCONJ
fsr-3927	87	29	funds	fund	NOUN
fsr-3927	87	30	without	without	ADP
fsr-3927	87	31	a	a	DET
fsr-3927	87	32	corresponding	corresponding	ADJ
fsr-3927	87	33	webs	webs	NOUN
fsr-3927	87	34	index	index	NOUN
fsr-3927	87	35	.	.	PUNCT
fsr-3927	88	1	for	for	ADP
fsr-3927	88	2	cecfs	cecfs	NOUN
fsr-3927	88	3	trading	trading	NOUN
fsr-3927	88	4	over	over	ADP
fsr-3927	88	5	the	the	DET
fsr-3927	88	6	160	160	NUM
fsr-3927	88	7	-	-	PUNCT
fsr-3927	88	8	week	week	NOUN
fsr-3927	88	9	period	period	NOUN
fsr-3927	88	10	,	,	PUNCT
fsr-3927	88	11	we	we	PRON
fsr-3927	88	12	find	find	VERB
fsr-3927	88	13	18	18	NUM
fsr-3927	88	14	funds	fund	NOUN
fsr-3927	88	15	with	with	ADP
fsr-3927	88	16	and	and	CCONJ
fsr-3927	88	17	25	25	NUM
fsr-3927	88	18	funds	fund	NOUN
fsr-3927	88	19	without	without	ADP
fsr-3927	88	20	a	a	DET
fsr-3927	88	21	corresponding	corresponding	ADJ
fsr-3927	88	22	webs	webs	NOUN
fsr-3927	88	23	index	index	NOUN
fsr-3927	88	24	.	.	PUNCT
fsr-3927	89	1	appendix	appendix	VERB
fsr-3927	89	2	a	a	DET
fsr-3927	89	3	lists	list	NOUN
fsr-3927	89	4	the	the	DET
fsr-3927	89	5	cecfs	cecfs	NOUN
fsr-3927	89	6	by	by	ADP
fsr-3927	89	7	group	group	NOUN
fsr-3927	89	8	and	and	CCONJ
fsr-3927	89	9	shows	show	VERB
fsr-3927	89	10	the	the	DET
fsr-3927	89	11	corresponding	correspond	VERB
fsr-3927	89	12	webs	webs	NOUN
fsr-3927	89	13	index	index	NOUN
fsr-3927	89	14	for	for	ADP
fsr-3927	89	15	the	the	DET
fsr-3927	89	16	first	first	ADJ
fsr-3927	89	17	group	group	NOUN
fsr-3927	89	18	.	.	PUNCT
fsr-3927	90	1	table	table	NOUN
fsr-3927	90	2	1	1	NUM
fsr-3927	90	3	presents	present	NOUN
fsr-3927	90	4	mean	mean	VERB
fsr-3927	90	5	percentage	percentage	NOUN
fsr-3927	90	6	discounts	discount	NOUN
fsr-3927	90	7	and	and	CCONJ
fsr-3927	90	8	grand	grand	ADJ
fsr-3927	90	9	average	average	ADJ
fsr-3927	90	10	daily	daily	ADJ
fsr-3927	90	11	volumes	volume	NOUN
fsr-3927	90	12	for	for	ADP
fsr-3927	90	13	the	the	DET
fsr-3927	90	14	160	160	NUM
fsr-3927	90	15	-	-	PUNCT
fsr-3927	90	16	week	week	NOUN
fsr-3927	90	17	period	period	NOUN
fsr-3927	90	18	.	.	PUNCT
fsr-3927	91	1	note	note	VERB
fsr-3927	91	2	that	that	SCONJ
fsr-3927	91	3	volume	volume	NOUN
fsr-3927	91	4	data	datum	NOUN
fsr-3927	91	5	were	be	AUX
fsr-3927	91	6	unavailable	unavailable	ADJ
fsr-3927	91	7	for	for	ADP
fsr-3927	91	8	4	4	NUM
fsr-3927	91	9	funds	fund	NOUN
fsr-3927	91	10	.	.	PUNCT
fsr-3927	92	1	3.1	3.1	NUM
fsr-3927	92	2	.	.	PUNCT
fsr-3927	92	3	modified	modify	VERB
fsr-3927	92	4	event	event	NOUN
fsr-3927	92	5	study	study	VERB
fsr-3927	92	6	the	the	DET
fsr-3927	92	7	traditional	traditional	ADJ
fsr-3927	92	8	approach	approach	NOUN
fsr-3927	92	9	to	to	ADP
fsr-3927	92	10	measuring	measure	VERB
fsr-3927	92	11	event	event	NOUN
fsr-3927	92	12	impact	impact	NOUN
fsr-3927	92	13	is	be	AUX
fsr-3927	92	14	cumulative	cumulative	ADJ
fsr-3927	92	15	abnormal	abnormal	ADJ
fsr-3927	92	16	residual	residual	ADJ
fsr-3927	92	17	(	(	PUNCT
fsr-3927	92	18	car	car	NOUN
fsr-3927	92	19	)	)	PUNCT
fsr-3927	92	20	analysis	analysis	NOUN
fsr-3927	92	21	.	.	PUNCT
fsr-3927	93	1	however	however	ADV
fsr-3927	93	2	,	,	PUNCT
fsr-3927	93	3	campbell	campbell	PROPN
fsr-3927	93	4	,	,	PUNCT
fsr-3927	93	5	lo	lo	PROPN
fsr-3927	93	6	,	,	PUNCT
fsr-3927	93	7	and	and	CCONJ
fsr-3927	93	8	mackinlay	mackinlay	NOUN
fsr-3927	93	9	,	,	PUNCT
fsr-3927	93	10	(	(	PUNCT
fsr-3927	93	11	1997	1997	NUM
fsr-3927	93	12	henceforth	henceforth	ADV
fsr-3927	93	13	clm	clm	X
fsr-3927	93	14	)	)	PUNCT
fsr-3927	93	15	caution	caution	NOUN
fsr-3927	93	16	against	against	ADP
fsr-3927	93	17	using	use	VERB
fsr-3927	93	18	car	car	NOUN
fsr-3927	93	19	analysis	analysis	NOUN
fsr-3927	93	20	when	when	SCONJ
fsr-3927	93	21	events	event	NOUN
fsr-3927	93	22	are	be	AUX
fsr-3927	93	23	clustered	cluster	VERB
fsr-3927	93	24	.	.	PUNCT
fsr-3927	94	1	event	event	NOUN
fsr-3927	94	2	clustering	cluster	VERB
fsr-3927	94	3	results	result	NOUN
fsr-3927	94	4	in	in	ADP
fsr-3927	94	5	crosscorrelations	crosscorrelation	NOUN
fsr-3927	94	6	among	among	ADP
fsr-3927	94	7	residuals	residual	NOUN
fsr-3927	94	8	,	,	PUNCT
fsr-3927	94	9	violating	violate	VERB
fsr-3927	94	10	the	the	DET
fsr-3927	94	11	normal	normal	ADJ
fsr-3927	94	12	car	car	NOUN
fsr-3927	94	13	assumption	assumption	NOUN
fsr-3927	94	14	of	of	ADP
fsr-3927	94	15	independence	independence	NOUN
fsr-3927	94	16	.	.	PUNCT
fsr-3927	95	1	since	since	SCONJ
fsr-3927	95	2	we	we	PRON
fsr-3927	95	3	examine	examine	VERB
fsr-3927	95	4	the	the	DET
fsr-3927	95	5	impact	impact	NOUN
fsr-3927	95	6	of	of	ADP
fsr-3927	95	7	a	a	DET
fsr-3927	95	8	simultaneous	simultaneous	ADJ
fsr-3927	95	9	event	event	NOUN
fsr-3927	95	10	on	on	ADP
fsr-3927	95	11	all	all	DET
fsr-3927	95	12	funds	fund	NOUN
fsr-3927	95	13	,	,	PUNCT
fsr-3927	95	14	we	we	PRON
fsr-3927	95	15	clearly	clearly	ADV
fsr-3927	95	16	have	have	AUX
fsr-3927	95	17	clustering	cluster	VERB
fsr-3927	95	18	.	.	PUNCT
fsr-3927	96	1	clm	clm	PROPN
fsr-3927	96	2	suggest	suggest	VERB
fsr-3927	96	3	a	a	DET
fsr-3927	96	4	system	system	NOUN
fsr-3927	96	5	of	of	ADP
fsr-3927	96	6	equations	equation	NOUN
fsr-3927	96	7	model	model	NOUN
fsr-3927	96	8	used	use	VERB
fsr-3927	96	9	by	by	ADP
fsr-3927	96	10	shipper	shipper	NOUN
fsr-3927	96	11	and	and	CCONJ
fsr-3927	96	12	thompson	thompson	PROPN
fsr-3927	96	13	(	(	PUNCT
fsr-3927	96	14	1983	1983	NUM
fsr-3927	96	15	henceforth	henceforth	PROPN
fsr-3927	96	16	st	st	PROPN
fsr-3927	96	17	)	)	PUNCT
fsr-3927	96	18	,	,	PUNCT
fsr-3927	96	19	which	which	PRON
fsr-3927	96	20	we	we	PRON
fsr-3927	96	21	use	use	VERB
fsr-3927	96	22	below	below	ADV
fsr-3927	96	23	.	.	PUNCT
fsr-3927	97	1	the	the	DET
fsr-3927	97	2	pre	pre	ADJ
fsr-3927	97	3	-	-	ADJ
fsr-3927	97	4	event	event	ADJ
fsr-3927	97	5	estimation	estimation	NOUN
fsr-3927	97	6	window	window	NOUN
fsr-3927	97	7	includes	include	VERB
fsr-3927	97	8	the	the	DET
fsr-3927	97	9	104	104	NUM
fsr-3927	97	10	-	-	PUNCT
fsr-3927	97	11	week	week	NOUN
fsr-3927	97	12	period	period	NOUN
fsr-3927	97	13	from	from	ADP
fsr-3927	97	14	march	march	PROPN
fsr-3927	97	15	18	18	NUM
fsr-3927	97	16	,	,	PUNCT
fsr-3927	97	17	1994	1994	NUM
fsr-3927	97	18	through	through	ADP
fsr-3927	97	19	march	march	PROPN
fsr-3927	97	20	8	8	NUM
fsr-3927	97	21	,	,	PUNCT
fsr-3927	97	22	1996	1996	NUM
fsr-3927	97	23	.	.	PUNCT
fsr-3927	98	1	the	the	DET
fsr-3927	98	2	four	four	NUM
fsr-3927	98	3	weeks	week	NOUN
fsr-3927	98	4	culminating	culminate	VERB
fsr-3927	98	5	with	with	ADP
fsr-3927	98	6	the	the	DET
fsr-3927	98	7	april	april	PROPN
fsr-3927	98	8	5	5	NUM
fsr-3927	98	9	,	,	PUNCT
fsr-3927	98	10	1996	1996	NUM
fsr-3927	98	11	introduction	introduction	NOUN
fsr-3927	98	12	of	of	ADP
fsr-3927	98	13	webs	webs	NOUN
fsr-3927	98	14	trading	trading	NOUN
fsr-3927	98	15	are	be	AUX
fsr-3927	98	16	the	the	DET
fsr-3927	98	17	event	event	NOUN
fsr-3927	98	18	window	window	NOUN
fsr-3927	98	19	.	.	PUNCT
fsr-3927	99	1	observations	observation	NOUN
fsr-3927	99	2	during	during	ADP
fsr-3927	99	3	the	the	DET
fsr-3927	99	4	event	event	NOUN
fsr-3927	99	5	window	window	NOUN
fsr-3927	99	6	are	be	AUX
fsr-3927	99	7	excluded	exclude	VERB
fsr-3927	99	8	to	to	PART
fsr-3927	99	9	avoid	avoid	VERB
fsr-3927	99	10	unintentional	unintentional	ADJ
fsr-3927	99	11	biases	bias	NOUN
fsr-3927	99	12	in	in	ADP
fsr-3927	99	13	the	the	DET
fsr-3927	99	14	estimation	estimation	NOUN
fsr-3927	99	15	of	of	ADP
fsr-3927	99	16	post	post	ADJ
fsr-3927	99	17	-	-	ADJ
fsr-3927	99	18	event	event	ADJ
fsr-3927	99	19	mean	mean	NOUN
fsr-3927	99	20	discounts	discount	NOUN
fsr-3927	99	21	.	.	PUNCT
fsr-3927	100	1	the	the	DET
fsr-3927	100	2	remaining	remain	VERB
fsr-3927	100	3	52	52	NUM
fsr-3927	100	4	weeks	week	NOUN
fsr-3927	100	5	from	from	ADP
fsr-3927	100	6	april	april	PROPN
fsr-3927	100	7	12	12	NUM
fsr-3927	100	8	,	,	PUNCT
fsr-3927	100	9	1996	1996	NUM
fsr-3927	100	10	through	through	ADP
fsr-3927	100	11	april	april	PROPN
fsr-3927	100	12	4	4	NUM
fsr-3927	100	13	,	,	PUNCT
fsr-3927	100	14	1997	1997	NUM
fsr-3927	100	15	comprise	comprise	VERB
fsr-3927	100	16	the	the	DET
fsr-3927	100	17	post	post	ADJ
fsr-3927	100	18	-	-	ADJ
fsr-3927	100	19	event	event	ADJ
fsr-3927	100	20	evaluation	evaluation	NOUN
fsr-3927	100	21	period	period	NOUN
fsr-3927	100	22	.	.	PUNCT
fsr-3927	101	1	we	we	PRON
fsr-3927	101	2	subdivide	subdivide	VERB
fsr-3927	101	3	the	the	DET
fsr-3927	101	4	post	post	ADJ
fsr-3927	101	5	-	-	ADJ
fsr-3927	101	6	event	event	ADJ
fsr-3927	101	7	evaluation	evaluation	NOUN
fsr-3927	101	8	period	period	NOUN
fsr-3927	101	9	into	into	ADP
fsr-3927	101	10	overlapping	overlap	VERB
fsr-3927	101	11	13-	13-	NUM
fsr-3927	101	12	,	,	PUNCT
fsr-3927	101	13	26-	26-	NUM
fsr-3927	101	14	,	,	PUNCT
fsr-3927	101	15	and	and	CCONJ
fsr-3927	101	16	52	52	NUM
fsr-3927	101	17	-	-	PUNCT
fsr-3927	101	18	week	week	NOUN
fsr-3927	101	19	periods	period	NOUN
fsr-3927	101	20	.	.	PUNCT
fsr-3927	102	1	the	the	DET
fsr-3927	102	2	model	model	NOUN
fsr-3927	102	3	is	be	AUX
fsr-3927	102	4	constructed	construct	VERB
fsr-3927	102	5	as	as	ADP
fsr-3927	102	6	a	a	DET
fsr-3927	102	7	system	system	NOUN
fsr-3927	102	8	of	of	ADP
fsr-3927	102	9	equations	equation	NOUN
fsr-3927	102	10	with	with	ADP
fsr-3927	102	11	each	each	DET
fsr-3927	102	12	individual	individual	ADJ
fsr-3927	102	13	equation	equation	NOUN
fsr-3927	102	14	corresponding	correspond	VERB
fsr-3927	102	15	to	to	ADP
fsr-3927	102	16	a	a	DET
fsr-3927	102	17	particular	particular	ADJ
fsr-3927	102	18	fund	fund	NOUN
fsr-3927	102	19	.	.	PUNCT
fsr-3927	103	1	we	we	PRON
fsr-3927	103	2	define	define	VERB
fsr-3927	103	3	t	t	PROPN
fsr-3927	103	4	as	as	ADP
fsr-3927	103	5	the	the	DET
fsr-3927	103	6	number	number	NOUN
fsr-3927	103	7	of	of	ADP
fsr-3927	103	8	observations	observation	NOUN
fsr-3927	103	9	per	per	ADP
fsr-3927	103	10	equation	equation	NOUN
fsr-3927	103	11	.	.	PUNCT
fsr-3927	104	1	in	in	ADP
fsr-3927	104	2	262	262	NUM
fsr-3927	104	3	m.	m.	NOUN
fsr-3927	104	4	o’connor	o’connor	ADV
fsr-3927	104	5	,	,	PUNCT
fsr-3927	104	6	e.a	e.a	PROPN
fsr-3927	104	7	.	.	PROPN
fsr-3927	104	8	downe	downe	PROPN
fsr-3927	104	9	/	/	SYM
fsr-3927	104	10	financial	financial	ADJ
fsr-3927	104	11	services	service	NOUN
fsr-3927	104	12	review	review	VERB
fsr-3927	104	13	9	9	NUM
fsr-3927	104	14	(	(	PUNCT
fsr-3927	104	15	2000	2000	NUM
fsr-3927	104	16	)	)	PUNCT
fsr-3927	105	1	259–275	259–275	NUM
fsr-3927	105	2	particular	particular	ADJ
fsr-3927	105	3	,	,	PUNCT
fsr-3927	105	4	t	t	PROPN
fsr-3927	105	5	will	will	AUX
fsr-3927	105	6	equal	equal	VERB
fsr-3927	105	7	the	the	DET
fsr-3927	105	8	sum	sum	NOUN
fsr-3927	105	9	of	of	ADP
fsr-3927	105	10	preand	preand	NOUN
fsr-3927	105	11	post	post	ADJ
fsr-3927	105	12	-	-	ADJ
fsr-3927	105	13	event	event	ADJ
fsr-3927	105	14	weeks	week	NOUN
fsr-3927	105	15	.	.	PUNCT
fsr-3927	106	1	for	for	ADP
fsr-3927	106	2	example	example	NOUN
fsr-3927	106	3	,	,	PUNCT
fsr-3927	106	4	if	if	SCONJ
fsr-3927	106	5	the	the	DET
fsr-3927	106	6	post	post	ADJ
fsr-3927	106	7	-	-	ADJ
fsr-3927	106	8	event	event	ADJ
fsr-3927	106	9	window	window	NOUN
fsr-3927	106	10	is	be	AUX
fsr-3927	106	11	13	13	NUM
fsr-3927	106	12	weeks	week	NOUN
fsr-3927	106	13	,	,	PUNCT
fsr-3927	106	14	then	then	ADV
fsr-3927	106	15	t	t	PROPN
fsr-3927	106	16	will	will	AUX
fsr-3927	106	17	equal	equal	VERB
fsr-3927	106	18	521	521	NUM
fsr-3927	106	19	13	13	NUM
fsr-3927	106	20	5	5	NUM
fsr-3927	106	21	65	65	NUM
fsr-3927	106	22	observations	observation	NOUN
fsr-3927	106	23	.	.	PUNCT
fsr-3927	107	1	let	let	VERB
fsr-3927	107	2	yj	yj	PROPN
fsr-3927	107	3	be	be	AUX
fsr-3927	107	4	a	a	DET
fsr-3927	107	5	t3	t3	PROPN
fsr-3927	107	6	1	1	NUM
fsr-3927	107	7	vector	vector	NOUN
fsr-3927	107	8	of	of	ADP
fsr-3927	107	9	observed	observed	ADJ
fsr-3927	107	10	percentage	percentage	NOUN
fsr-3927	107	11	discounts	discount	NOUN
fsr-3927	107	12	for	for	ADP
fsr-3927	107	13	firm	firm	ADJ
fsr-3927	107	14	j.	j.	PROPN
fsr-3927	107	15	let	let	VERB
fsr-3927	107	16	d	d	PRON
fsr-3927	107	17	be	be	AUX
fsr-3927	107	18	a	a	DET
fsr-3927	107	19	t3	t3	PROPN
fsr-3927	107	20	1	1	NUM
fsr-3927	107	21	vector	vector	NOUN
fsr-3927	107	22	of	of	ADP
fsr-3927	107	23	dummy	dummy	ADJ
fsr-3927	107	24	variables	variable	NOUN
fsr-3927	107	25	with	with	ADP
fsr-3927	107	26	zeroes	zero	NOUN
fsr-3927	107	27	in	in	ADP
fsr-3927	107	28	the	the	DET
fsr-3927	107	29	pre	pre	ADJ
fsr-3927	107	30	-	-	ADJ
fsr-3927	107	31	event	event	ADJ
fsr-3927	107	32	estimation	estimation	NOUN
fsr-3927	107	33	period	period	NOUN
fsr-3927	107	34	and	and	CCONJ
fsr-3927	107	35	ones	one	NOUN
fsr-3927	107	36	in	in	ADP
fsr-3927	107	37	the	the	DET
fsr-3927	107	38	post	post	ADJ
fsr-3927	107	39	-	-	ADJ
fsr-3927	107	40	event	event	ADJ
fsr-3927	107	41	test	test	NOUN
fsr-3927	107	42	period	period	NOUN
fsr-3927	107	43	.	.	PUNCT
fsr-3927	108	1	finally	finally	ADV
fsr-3927	108	2	,	,	PUNCT
fsr-3927	108	3	let	let	VERB
fsr-3927	108	4	«	«	PUNCT
fsr-3927	108	5	j	j	PROPN
fsr-3927	108	6	be	be	AUX
fsr-3927	108	7	a	a	DET
fsr-3927	108	8	t3	t3	PROPN
fsr-3927	108	9	1	1	NUM
fsr-3927	108	10	vector	vector	NOUN
fsr-3927	108	11	of	of	ADP
fsr-3927	108	12	serially	serially	ADV
fsr-3927	108	13	independent	independent	ADJ
fsr-3927	108	14	error	error	NOUN
fsr-3927	108	15	terms	term	NOUN
fsr-3927	108	16	for	for	ADP
fsr-3927	108	17	firm	firm	ADJ
fsr-3927	108	18	j.	j.	PROPN
fsr-3927	108	19	then	then	ADV
fsr-3927	108	20	for	for	ADP
fsr-3927	108	21	each	each	DET
fsr-3927	108	22	individual	individual	ADJ
fsr-3927	108	23	firm	firm	NOUN
fsr-3927	108	24	,	,	PUNCT
fsr-3927	108	25	the	the	DET
fsr-3927	108	26	model	model	NOUN
fsr-3927	108	27	can	can	AUX
fsr-3927	108	28	be	be	AUX
fsr-3927	108	29	written	write	VERB
fsr-3927	108	30	as	as	ADP
fsr-3927	108	31	:	:	PUNCT
fsr-3927	108	32	yj	yj	PROPN
fsr-3927	108	33	5	5	NUM
fsr-3927	108	34	mj	mj	PROPN
fsr-3927	108	35	1	1	NUM
fsr-3927	108	36	bjd	bjd	NOUN
fsr-3927	108	37	1	1	NUM
fsr-3927	108	38	«	«	PUNCT
fsr-3927	108	39	j	j	NOUN
fsr-3927	108	40	with	with	ADP
fsr-3927	108	41	«	«	PUNCT
fsr-3927	108	42	j	j	PROPN
fsr-3927	108	43	;	;	PUNCT
fsr-3927	108	44	n(0	n(0	PROPN
fsr-3927	108	45	,	,	PUNCT
fsr-3927	108	46	s2	s2	PROPN
fsr-3927	108	47	)	)	PUNCT
fsr-3927	108	48	(	(	PUNCT
fsr-3927	108	49	1	1	X
fsr-3927	108	50	)	)	PUNCT
fsr-3927	108	51	let	let	VERB
fsr-3927	108	52	j	j	PROPN
fsr-3927	108	53	equal	equal	VERB
fsr-3927	108	54	the	the	DET
fsr-3927	108	55	number	number	NOUN
fsr-3927	108	56	of	of	ADP
fsr-3927	108	57	firms	firm	NOUN
fsr-3927	108	58	in	in	ADP
fsr-3927	108	59	a	a	DET
fsr-3927	108	60	particular	particular	ADJ
fsr-3927	108	61	group	group	NOUN
fsr-3927	108	62	.	.	PUNCT
fsr-3927	109	1	then	then	ADV
fsr-3927	109	2	,	,	PUNCT
fsr-3927	109	3	following	follow	VERB
fsr-3927	109	4	st	st	PROPN
fsr-3927	109	5	,	,	PUNCT
fsr-3927	109	6	the	the	DET
fsr-3927	109	7	j	j	PROPN
fsr-3927	109	8	individual	individual	ADJ
fsr-3927	109	9	equations	equation	NOUN
fsr-3927	109	10	are	be	AUX
fsr-3927	109	11	stacked	stack	VERB
fsr-3927	109	12	into	into	ADP
fsr-3927	109	13	a	a	DET
fsr-3927	109	14	system	system	NOUN
fsr-3927	109	15	of	of	ADP
fsr-3927	109	16	equations	equation	NOUN
fsr-3927	109	17	as	as	ADP
fsr-3927	109	18	:	:	PUNCT
fsr-3927	109	19	y	y	PROPN
fsr-3927	109	20	5	5	NUM
fsr-3927	109	21	xg	xg	PROPN
fsr-3927	109	22	1	1	NUM
fsr-3927	109	23	e	e	X
fsr-3927	109	24	(	(	PUNCT
fsr-3927	109	25	2	2	NUM
fsr-3927	109	26	)	)	PUNCT
fsr-3927	109	27	where	where	SCONJ
fsr-3927	109	28	:	:	PUNCT
fsr-3927	109	29	y	y	PROPN
fsr-3927	109	30	5	5	NUM
fsr-3927	109	31	fy1···yj	fy1···yj	PROPN
fsr-3927	109	32	g	g	NOUN
fsr-3927	109	33	,	,	PUNCT
fsr-3927	109	34	x	x	PROPN
fsr-3927	109	35	5	5	NUM
fsr-3927	109	36	f	f	NOUN
fsr-3927	109	37	x	x	X
fsr-3927	109	38	#	#	NOUN
fsr-3927	109	39	0	0	NUM
fsr-3927	109	40	0	0	NUM
fsr-3927	109	41	x	x	NOUN
fsr-3927	109	42	#	#	NOUN
fsr-3927	109	43	g	g	NOUN
fsr-3927	109	44	,	,	PUNCT
fsr-3927	109	45	x	x	NOUN
fsr-3927	109	46	#	#	NOUN
fsr-3927	109	47	5	5	NUM
fsr-3927	110	1	[	[	X
fsr-3927	110	2	1	1	NUM
fsr-3927	110	3	d	d	NOUN
fsr-3927	110	4	]	]	X
fsr-3927	110	5	,	,	PUNCT
fsr-3927	110	6	e	e	PROPN
fsr-3927	110	7	5	5	NUM
fsr-3927	110	8	f«1	f«1	PROPN
fsr-3927	110	9	·	·	SYM
fsr-3927	110	10	·	·	PUNCT
fsr-3927	110	11	·	·	PUNCT
fsr-3927	110	12	«	«	PUNCT
fsr-3927	110	13	j	j	PROPN
fsr-3927	110	14	g	g	PROPN
fsr-3927	110	15	,	,	PUNCT
fsr-3927	110	16	andg	andg	NOUN
fsr-3927	110	17	5	5	NUM
fsr-3927	110	18	3	3	NUM
fsr-3927	110	19	a1	a1	NOUN
fsr-3927	110	20	b1	b1	NOUN
fsr-3927	110	21	·	·	SYM
fsr-3927	110	22	·	·	PUNCT
fsr-3927	110	23	·	·	PUNCT
fsr-3927	110	24	aj	aj	VERB
fsr-3927	110	25	bj	bj	ADP
fsr-3927	110	26	4	4	NUM
fsr-3927	110	27	the	the	DET
fsr-3927	110	28	model	model	NOUN
fsr-3927	110	29	is	be	AUX
fsr-3927	110	30	robust	robust	ADJ
fsr-3927	110	31	to	to	ADP
fsr-3927	110	32	correlation	correlation	NOUN
fsr-3927	110	33	of	of	ADP
fsr-3927	110	34	the«j	the«j	PROPN
fsr-3927	110	35	across	across	ADP
fsr-3927	110	36	the	the	DET
fsr-3927	110	37	j	j	PROPN
fsr-3927	110	38	equations	equation	NOUN
fsr-3927	110	39	.	.	PUNCT
fsr-3927	111	1	hence	hence	ADV
fsr-3927	111	2	,	,	PUNCT
fsr-3927	111	3	it	it	PRON
fsr-3927	111	4	is	be	AUX
fsr-3927	111	5	appropriate	appropriate	ADJ
fsr-3927	111	6	for	for	ADP
fsr-3927	111	7	clustered	clustered	ADJ
fsr-3927	111	8	events	event	NOUN
fsr-3927	111	9	.	.	PUNCT
fsr-3927	112	1	with	with	ADP
fsr-3927	112	2	a	a	DET
fsr-3927	112	3	known	know	VERB
fsr-3927	112	4	residual	residual	ADJ
fsr-3927	112	5	covariance	covariance	NOUN
fsr-3927	112	6	matrixs	matrixs	NOUN
fsr-3927	112	7	,	,	PUNCT
fsr-3927	112	8	gls	gls	PROPN
fsr-3927	112	9	provides	provide	VERB
fsr-3927	112	10	the	the	DET
fsr-3927	112	11	best	well	ADV
fsr-3927	112	12	unbiased	unbiased	ADJ
fsr-3927	112	13	maximum	maximum	ADJ
fsr-3927	112	14	likelihood	likelihood	NOUN
fsr-3927	112	15	estimate	estimate	NOUN
fsr-3927	112	16	ofg	ofg	PROPN
fsr-3927	112	17	.	.	PUNCT
fsr-3927	113	1	using	use	VERB
fsr-3927	113	2	an	an	DET
fsr-3927	113	3	ols	ol	NOUN
fsr-3927	113	4	estimate	estimate	NOUN
fsr-3927	113	5	for	for	ADP
fsr-3927	113	6	s	s	PROPN
fsr-3927	113	7	,	,	PUNCT
fsr-3927	113	8	the	the	DET
fsr-3927	113	9	joint	joint	ADJ
fsr-3927	113	10	gls	gl	VERB
fsr-3927	113	11	estimate	estimate	NOUN
fsr-3927	113	12	ofg	ofg	PROPN
fsr-3927	113	13	is	be	AUX
fsr-3927	113	14	consistent	consistent	ADJ
fsr-3927	113	15	and	and	CCONJ
fsr-3927	113	16	asymptotically	asymptotically	ADV
fsr-3927	113	17	efficient	efficient	ADJ
fsr-3927	113	18	.	.	PUNCT
fsr-3927	114	1	since	since	SCONJ
fsr-3927	114	2	the	the	DET
fsr-3927	114	3	explanatory	explanatory	ADJ
fsr-3927	114	4	variables	variable	NOUN
fsr-3927	114	5	are	be	AUX
fsr-3927	114	6	identical	identical	ADJ
fsr-3927	114	7	across	across	ADP
fsr-3927	114	8	equations	equation	NOUN
fsr-3927	114	9	,	,	PUNCT
fsr-3927	114	10	ols	ol	NOUN
fsr-3927	114	11	provides	provide	VERB
fsr-3927	114	12	identical	identical	ADJ
fsr-3927	114	13	parameter	parameter	NOUN
fsr-3927	114	14	estimates	estimate	NOUN
fsr-3927	114	15	as	as	ADP
fsr-3927	114	16	gls	gls	PROPN
fsr-3927	114	17	.	.	PUNCT
fsr-3927	115	1	for	for	ADP
fsr-3927	115	2	all	all	DET
fsr-3927	115	3	tests	test	NOUN
fsr-3927	115	4	,	,	PUNCT
fsr-3927	115	5	the	the	DET
fsr-3927	115	6	null	null	ADJ
fsr-3927	115	7	hypothesis	hypothesis	NOUN
fsr-3927	115	8	is	be	AUX
fsr-3927	115	9	that	that	SCONJ
fsr-3927	115	10	the	the	DET
fsr-3927	115	11	introduction	introduction	NOUN
fsr-3927	115	12	of	of	ADP
fsr-3927	115	13	webs	webs	NOUN
fsr-3927	115	14	has	have	VERB
fsr-3927	115	15	no	no	DET
fsr-3927	115	16	effect	effect	NOUN
fsr-3927	115	17	on	on	ADP
fsr-3927	115	18	percentage	percentage	NOUN
fsr-3927	115	19	discounts	discount	NOUN
fsr-3927	115	20	.	.	PUNCT
fsr-3927	116	1	a	a	DET
fsr-3927	116	2	positive	positive	ADJ
fsr-3927	116	3	and	and	CCONJ
fsr-3927	116	4	significantbj	significantbj	ADJ
fsr-3927	116	5	coefficient	coefficient	NOUN
fsr-3927	116	6	indicates	indicate	VERB
fsr-3927	116	7	a	a	DET
fsr-3927	116	8	fund	fund	NOUN
fsr-3927	116	9	’s	’s	PART
fsr-3927	116	10	mean	mean	ADJ
fsr-3927	116	11	percentage	percentage	NOUN
fsr-3927	116	12	discount	discount	NOUN
fsr-3927	116	13	increases	increase	NOUN
fsr-3927	116	14	after	after	ADP
fsr-3927	116	15	the	the	DET
fsr-3927	116	16	introduction	introduction	NOUN
fsr-3927	116	17	of	of	ADP
fsr-3927	116	18	webs	webs	NOUN
fsr-3927	116	19	.	.	PUNCT
fsr-3927	117	1	however	however	ADV
fsr-3927	117	2	,	,	PUNCT
fsr-3927	117	3	following	follow	VERB
fsr-3927	117	4	st	st	PROPN
fsr-3927	117	5	,	,	PUNCT
fsr-3927	117	6	we	we	PRON
fsr-3927	117	7	also	also	ADV
fsr-3927	117	8	construct	construct	VERB
fsr-3927	117	9	two	two	NUM
fsr-3927	117	10	sets	set	NOUN
fsr-3927	117	11	of	of	ADP
fsr-3927	117	12	hypotheses	hypothesis	NOUN
fsr-3927	117	13	regarding	regard	VERB
fsr-3927	117	14	the	the	DET
fsr-3927	117	15	joint	joint	ADJ
fsr-3927	117	16	impact	impact	NOUN
fsr-3927	117	17	of	of	ADP
fsr-3927	117	18	webs	webs	NOUN
fsr-3927	117	19	trading	trading	NOUN
fsr-3927	117	20	.	.	PUNCT
fsr-3927	118	1	the	the	DET
fsr-3927	118	2	first	first	ADJ
fsr-3927	118	3	joint	joint	ADJ
fsr-3927	118	4	hypothesis	hypothesis	NOUN
fsr-3927	118	5	is	be	AUX
fsr-3927	118	6	that	that	SCONJ
fsr-3927	118	7	the	the	DET
fsr-3927	118	8	sum	sum	NOUN
fsr-3927	118	9	of	of	ADP
fsr-3927	118	10	thebj	thebj	NOUN
fsr-3927	118	11	equal	equal	ADJ
fsr-3927	118	12	zero	zero	NUM
fsr-3927	118	13	:	:	PUNCT
fsr-3927	118	14	h0	h0	NOUN
fsr-3927	118	15	:	:	PUNCT
fsr-3927	118	16	o	o	PROPN
fsr-3927	118	17	j51	j51	NOUN
fsr-3927	118	18	j	j	PROPN
fsr-3927	118	19	bj	bj	VERB
fsr-3927	118	20	5	5	NUM
fsr-3927	118	21	0	0	NUM
fsr-3927	118	22	(	(	PUNCT
fsr-3927	118	23	3	3	X
fsr-3927	118	24	)	)	PUNCT
fsr-3927	118	25	paraphrasing	paraphrasing	NOUN
fsr-3927	118	26	st	st	PROPN
fsr-3927	118	27	,	,	PUNCT
fsr-3927	118	28	this	this	DET
fsr-3927	118	29	test	test	NOUN
fsr-3927	118	30	is	be	AUX
fsr-3927	118	31	analogous	analogous	ADJ
fsr-3927	118	32	to	to	ADP
fsr-3927	118	33	testing	test	VERB
fsr-3927	118	34	the	the	DET
fsr-3927	118	35	sample	sample	NOUN
fsr-3927	118	36	-	-	PUNCT
fsr-3927	118	37	wide	wide	ADJ
fsr-3927	118	38	abnormal	abnormal	ADJ
fsr-3927	118	39	returns	return	NOUN
fsr-3927	118	40	in	in	ADP
fsr-3927	118	41	a	a	DET
fsr-3927	118	42	traditional	traditional	ADJ
fsr-3927	118	43	car	car	NOUN
fsr-3927	118	44	methodology	methodology	NOUN
fsr-3927	118	45	.	.	PUNCT
fsr-3927	119	1	we	we	PRON
fsr-3927	119	2	also	also	ADV
fsr-3927	119	3	test	test	VERB
fsr-3927	119	4	the	the	DET
fsr-3927	119	5	hypothesis	hypothesis	NOUN
fsr-3927	119	6	that	that	PRON
fsr-3927	119	7	the	the	DET
fsr-3927	119	8	individualbj	individualbj	NOUN
fsr-3927	119	9	parameters	parameter	NOUN
fsr-3927	119	10	are	be	AUX
fsr-3927	119	11	jointly	jointly	ADV
fsr-3927	119	12	zero	zero	NUM
fsr-3927	119	13	:	:	PUNCT
fsr-3927	119	14	h0	h0	NOUN
fsr-3927	119	15	:	:	PUNCT
fsr-3927	119	16	bj	bj	VERB
fsr-3927	119	17	5	5	NUM
fsr-3927	119	18	0@j	0@j	NUM
fsr-3927	119	19	(	(	PUNCT
fsr-3927	119	20	4	4	NUM
fsr-3927	119	21	)	)	SYM
fsr-3927	119	22	263	263	NUM
fsr-3927	119	23	m.	m.	NOUN
fsr-3927	119	24	o’connor	o’connor	ADV
fsr-3927	119	25	,	,	PUNCT
fsr-3927	119	26	e.a	e.a	PROPN
fsr-3927	119	27	.	.	PROPN
fsr-3927	119	28	downe	downe	PROPN
fsr-3927	119	29	/	/	SYM
fsr-3927	119	30	financial	financial	ADJ
fsr-3927	119	31	services	service	NOUN
fsr-3927	119	32	review	review	VERB
fsr-3927	119	33	9	9	NUM
fsr-3927	119	34	(	(	PUNCT
fsr-3927	119	35	2000	2000	NUM
fsr-3927	119	36	)	)	PUNCT
fsr-3927	120	1	259–275	259–275	NUM
fsr-3927	120	2	this	this	DET
fsr-3927	120	3	test	test	NOUN
fsr-3927	120	4	may	may	AUX
fsr-3927	120	5	be	be	AUX
fsr-3927	120	6	useful	useful	ADJ
fsr-3927	120	7	if	if	SCONJ
fsr-3927	120	8	some	some	DET
fsr-3927	120	9	funds	fund	NOUN
fsr-3927	120	10	react	react	VERB
fsr-3927	120	11	positively	positively	ADV
fsr-3927	120	12	while	while	SCONJ
fsr-3927	120	13	others	other	NOUN
fsr-3927	120	14	react	react	VERB
fsr-3927	120	15	negatively	negatively	ADV
fsr-3927	120	16	,	,	PUNCT
fsr-3927	120	17	hence	hence	ADV
fsr-3927	120	18	canceling	cancel	VERB
fsr-3927	120	19	each	each	DET
fsr-3927	120	20	other	other	ADJ
fsr-3927	120	21	out	out	ADP
fsr-3927	120	22	in	in	ADP
fsr-3927	120	23	the	the	DET
fsr-3927	120	24	sum	sum	NOUN
fsr-3927	120	25	.	.	PUNCT
fsr-3927	121	1	st	st	PROPN
fsr-3927	121	2	give	give	VERB
fsr-3927	121	3	the	the	DET
fsr-3927	121	4	following	follow	VERB
fsr-3927	121	5	test	test	NOUN
fsr-3927	121	6	statistic	statistic	NOUN
fsr-3927	121	7	to	to	PART
fsr-3927	121	8	evaluate	evaluate	VERB
fsr-3927	121	9	the	the	DET
fsr-3927	121	10	two	two	NUM
fsr-3927	121	11	cross	cross	ADJ
fsr-3927	121	12	-	-	ADJ
fsr-3927	121	13	equation	equation	ADJ
fsr-3927	121	14	hypotheses	hypothesis	NOUN
fsr-3927	121	15	:	:	PUNCT
fsr-3927	121	16	(	(	PUNCT
fsr-3927	121	17	a2	a2	PROPN
fsr-3927	121	18	aĝ)9[a(x	aĝ)9[a(x	PROPN
fsr-3927	121	19	9(ŝ21vi)x)21a9]21(a2	9(ŝ21vi)x)21a9]21(a2	NUM
fsr-3927	121	20	aĝ	aĝ	PROPN
fsr-3927	121	21	)	)	PUNCT
fsr-3927	121	22	(	(	PUNCT
fsr-3927	121	23	5	5	NUM
fsr-3927	121	24	)	)	PUNCT
fsr-3927	121	25	in	in	ADP
fsr-3927	121	26	the	the	DET
fsr-3927	121	27	first	first	ADJ
fsr-3927	121	28	joint	joint	ADJ
fsr-3927	121	29	test	test	NOUN
fsr-3927	121	30	a5	a5	PROPN
fsr-3927	121	31	0	0	NUM
fsr-3927	121	32	,	,	PUNCT
fsr-3927	121	33	and	and	CCONJ
fsr-3927	121	34	a	a	PRON
fsr-3927	121	35	is	be	AUX
fsr-3927	121	36	a	a	DET
fsr-3927	121	37	row	row	NOUN
fsr-3927	121	38	vector	vector	NOUN
fsr-3927	121	39	of	of	ADP
fsr-3927	121	40	ones	one	NOUN
fsr-3927	121	41	and	and	CCONJ
fsr-3927	121	42	zeros	zero	NOUN
fsr-3927	121	43	.	.	PUNCT
fsr-3927	122	1	in	in	ADP
fsr-3927	122	2	the	the	DET
fsr-3927	122	3	second	second	ADJ
fsr-3927	122	4	test	test	NOUN
fsr-3927	122	5	,	,	PUNCT
fsr-3927	122	6	a	a	PRON
fsr-3927	122	7	is	be	AUX
fsr-3927	122	8	a	a	DET
fsr-3927	122	9	column	column	NOUN
fsr-3927	122	10	vector	vector	NOUN
fsr-3927	122	11	of	of	ADP
fsr-3927	122	12	zeros	zero	NOUN
fsr-3927	122	13	,	,	PUNCT
fsr-3927	122	14	and	and	CCONJ
fsr-3927	122	15	a	a	PRON
fsr-3927	122	16	is	be	AUX
fsr-3927	122	17	a	a	DET
fsr-3927	122	18	matrix	matrix	NOUN
fsr-3927	122	19	of	of	ADP
fsr-3927	122	20	ones	one	NOUN
fsr-3927	122	21	and	and	CCONJ
fsr-3927	122	22	zeros	zero	NOUN
fsr-3927	122	23	.	.	PUNCT
fsr-3927	123	1	as	as	SCONJ
fsr-3927	123	2	t	t	PROPN
fsr-3927	123	3	goes	go	VERB
fsr-3927	123	4	to	to	ADP
fsr-3927	123	5	infinity	infinity	NOUN
fsr-3927	123	6	,	,	PUNCT
fsr-3927	123	7	(	(	PUNCT
fsr-3927	123	8	5	5	X
fsr-3927	123	9	)	)	PUNCT
fsr-3927	123	10	is	be	AUX
fsr-3927	123	11	distributed	distribute	VERB
fsr-3927	123	12	asx2(q	asx2(q	NOUN
fsr-3927	123	13	)	)	PUNCT
fsr-3927	123	14	in	in	ADP
fsr-3927	123	15	the	the	DET
fsr-3927	123	16	limit	limit	NOUN
fsr-3927	123	17	,	,	PUNCT
fsr-3927	123	18	where	where	SCONJ
fsr-3927	123	19	q	q	NOUN
fsr-3927	123	20	represents	represent	VERB
fsr-3927	123	21	the	the	DET
fsr-3927	123	22	number	number	NOUN
fsr-3927	123	23	of	of	ADP
fsr-3927	123	24	restrictions	restriction	NOUN
fsr-3927	123	25	.	.	PUNCT
fsr-3927	124	1	note	note	VERB
fsr-3927	124	2	that	that	SCONJ
fsr-3927	124	3	the	the	DET
fsr-3927	124	4	hypothesis	hypothesis	NOUN
fsr-3927	124	5	test	test	NOUN
fsr-3927	124	6	from	from	ADP
fsr-3927	124	7	equation	equation	NOUN
fsr-3927	124	8	(	(	PUNCT
fsr-3927	124	9	3	3	X
fsr-3927	124	10	)	)	PUNCT
fsr-3927	124	11	has	have	VERB
fsr-3927	124	12	one	one	NUM
fsr-3927	124	13	restriction	restriction	NOUN
fsr-3927	124	14	.	.	PUNCT
fsr-3927	125	1	the	the	DET
fsr-3927	125	2	hypothesis	hypothesis	NOUN
fsr-3927	125	3	test	test	NOUN
fsr-3927	125	4	in	in	ADP
fsr-3927	125	5	equation	equation	NOUN
fsr-3927	125	6	(	(	PUNCT
fsr-3927	125	7	4	4	X
fsr-3927	125	8	)	)	PUNCT
fsr-3927	125	9	will	will	AUX
fsr-3927	125	10	have	have	VERB
fsr-3927	125	11	q5	q5	PROPN
fsr-3927	125	12	j	j	PROPN
fsr-3927	125	13	restrictions	restriction	NOUN
fsr-3927	125	14	,	,	PUNCT
fsr-3927	125	15	because	because	SCONJ
fsr-3927	125	16	the	the	DET
fsr-3927	125	17	system	system	NOUN
fsr-3927	125	18	has	have	VERB
fsr-3927	125	19	j	j	PROPN
fsr-3927	125	20	separate	separate	ADJ
fsr-3927	125	21	equations	equation	NOUN
fsr-3927	125	22	,	,	PUNCT
fsr-3927	125	23	one	one	NUM
fsr-3927	125	24	for	for	ADP
fsr-3927	125	25	each	each	DET
fsr-3927	125	26	cecf	cecf	NOUN
fsr-3927	125	27	.	.	PUNCT
fsr-3927	126	1	we	we	PRON
fsr-3927	126	2	separately	separately	ADV
fsr-3927	126	3	estimate	estimate	VERB
fsr-3927	126	4	the	the	DET
fsr-3927	126	5	system	system	NOUN
fsr-3927	126	6	of	of	ADP
fsr-3927	126	7	equations	equation	NOUN
fsr-3927	126	8	model	model	NOUN
fsr-3927	126	9	for	for	ADP
fsr-3927	126	10	each	each	DET
fsr-3927	126	11	group	group	NOUN
fsr-3927	126	12	of	of	ADP
fsr-3927	126	13	funds	fund	NOUN
fsr-3927	126	14	(	(	PUNCT
fsr-3927	126	15	i.e.	i.e.	X
fsr-3927	126	16	,	,	PUNCT
fsr-3927	126	17	those	those	PRON
fsr-3927	126	18	with	with	ADP
fsr-3927	126	19	and	and	CCONJ
fsr-3927	126	20	without	without	ADP
fsr-3927	126	21	corresponding	correspond	VERB
fsr-3927	126	22	webs	webs	NOUN
fsr-3927	126	23	)	)	PUNCT
fsr-3927	126	24	.	.	PUNCT
fsr-3927	127	1	further	far	ADV
fsr-3927	127	2	,	,	PUNCT
fsr-3927	127	3	we	we	PRON
fsr-3927	127	4	estimate	estimate	VERB
fsr-3927	127	5	separate	separate	ADJ
fsr-3927	127	6	models	model	NOUN
fsr-3927	127	7	for	for	ADP
fsr-3927	127	8	the	the	DET
fsr-3927	127	9	three	three	NUM
fsr-3927	127	10	post	post	ADJ
fsr-3927	127	11	-	-	ADJ
fsr-3927	127	12	event	event	ADJ
fsr-3927	127	13	time	time	NOUN
fsr-3927	127	14	periods	period	NOUN
fsr-3927	127	15	.	.	PUNCT
fsr-3927	128	1	in	in	ADP
fsr-3927	128	2	the	the	DET
fsr-3927	128	3	first	first	ADJ
fsr-3927	128	4	run	run	NOUN
fsr-3927	128	5	,	,	PUNCT
fsr-3927	128	6	we	we	PRON
fsr-3927	128	7	use	use	VERB
fsr-3927	128	8	a	a	DET
fsr-3927	128	9	13	13	NUM
fsr-3927	128	10	-	-	PUNCT
fsr-3927	128	11	week	week	NOUN
fsr-3927	128	12	post	post	ADJ
fsr-3927	128	13	-	-	ADJ
fsr-3927	128	14	event	event	ADJ
fsr-3927	128	15	window	window	NOUN
fsr-3927	128	16	.	.	PUNCT
fsr-3927	129	1	this	this	PRON
fsr-3927	129	2	indicates	indicate	VERB
fsr-3927	129	3	the	the	DET
fsr-3927	129	4	short	short	ADJ
fsr-3927	129	5	run	run	NOUN
fsr-3927	129	6	impact	impact	NOUN
fsr-3927	129	7	of	of	ADP
fsr-3927	129	8	webs	webs	NOUN
fsr-3927	129	9	trading	trading	NOUN
fsr-3927	129	10	.	.	PUNCT
fsr-3927	130	1	to	to	PART
fsr-3927	130	2	examine	examine	VERB
fsr-3927	130	3	the	the	DET
fsr-3927	130	4	persistence	persistence	NOUN
fsr-3927	130	5	of	of	ADP
fsr-3927	130	6	fund	fund	NOUN
fsr-3927	130	7	discount	discount	NOUN
fsr-3927	130	8	responses	response	NOUN
fsr-3927	130	9	over	over	ADP
fsr-3927	130	10	the	the	DET
fsr-3927	130	11	intermediate	intermediate	ADJ
fsr-3927	130	12	and	and	CCONJ
fsr-3927	130	13	long	long	ADJ
fsr-3927	130	14	run	run	NOUN
fsr-3927	130	15	,	,	PUNCT
fsr-3927	130	16	we	we	PRON
fsr-3927	130	17	also	also	ADV
fsr-3927	130	18	estimate	estimate	VERB
fsr-3927	130	19	the	the	DET
fsr-3927	130	20	models	model	NOUN
fsr-3927	130	21	using	use	VERB
fsr-3927	130	22	26and	26and	PRON
fsr-3927	130	23	52	52	NUM
fsr-3927	130	24	-	-	PUNCT
fsr-3927	130	25	week	week	NOUN
fsr-3927	130	26	post	post	ADJ
fsr-3927	130	27	-	-	ADJ
fsr-3927	130	28	event	event	ADJ
fsr-3927	130	29	windows	window	NOUN
fsr-3927	130	30	.	.	PUNCT
fsr-3927	131	1	3.2	3.2	NUM
fsr-3927	131	2	.	.	PUNCT
fsr-3927	132	1	the	the	DET
fsr-3927	132	2	two	two	NUM
fsr-3927	132	3	-	-	PUNCT
fsr-3927	132	4	factor	factor	NOUN
fsr-3927	132	5	difference	difference	NOUN
fsr-3927	132	6	in	in	ADP
fsr-3927	132	7	means	mean	NOUN
fsr-3927	132	8	test	test	NOUN
fsr-3927	132	9	extending	extend	VERB
fsr-3927	132	10	our	our	PRON
fsr-3927	132	11	analysis	analysis	NOUN
fsr-3927	132	12	,	,	PUNCT
fsr-3927	132	13	we	we	PRON
fsr-3927	132	14	also	also	ADV
fsr-3927	132	15	conduct	conduct	VERB
fsr-3927	132	16	a	a	DET
fsr-3927	132	17	two	two	NUM
fsr-3927	132	18	-	-	PUNCT
fsr-3927	132	19	factor	factor	NOUN
fsr-3927	132	20	difference	difference	NOUN
fsr-3927	132	21	in	in	ADP
fsr-3927	132	22	means	mean	NOUN
fsr-3927	132	23	test	test	NOUN
fsr-3927	132	24	.	.	PUNCT
fsr-3927	133	1	this	this	PRON
fsr-3927	133	2	allows	allow	VERB
fsr-3927	133	3	us	we	PRON
fsr-3927	133	4	to	to	PART
fsr-3927	133	5	examine	examine	VERB
fsr-3927	133	6	whether	whether	SCONJ
fsr-3927	133	7	webs	webs	NOUN
fsr-3927	133	8	had	have	VERB
fsr-3927	133	9	a	a	DET
fsr-3927	133	10	significantly	significantly	ADV
fsr-3927	133	11	larger	large	ADJ
fsr-3927	133	12	impact	impact	NOUN
fsr-3927	133	13	on	on	ADP
fsr-3927	133	14	corresponding	corresponding	ADJ
fsr-3927	133	15	cecfs	cecfs	NOUN
fsr-3927	133	16	.	.	PUNCT
fsr-3927	134	1	the	the	DET
fsr-3927	134	2	model	model	NOUN
fsr-3927	134	3	’s	’s	PART
fsr-3927	134	4	first	first	ADJ
fsr-3927	134	5	factor	factor	NOUN
fsr-3927	134	6	is	be	AUX
fsr-3927	134	7	time	time	NOUN
fsr-3927	134	8	and	and	CCONJ
fsr-3927	134	9	has	have	VERB
fsr-3927	134	10	two	two	NUM
fsr-3927	134	11	levels	level	NOUN
fsr-3927	134	12	:	:	PUNCT
fsr-3927	134	13	the	the	DET
fsr-3927	134	14	preand	preand	NOUN
fsr-3927	134	15	post	post	ADJ
fsr-3927	134	16	-	-	ADJ
fsr-3927	134	17	event	event	ADJ
fsr-3927	134	18	observations	observation	NOUN
fsr-3927	134	19	.	.	PUNCT
fsr-3927	135	1	the	the	DET
fsr-3927	135	2	second	second	ADJ
fsr-3927	135	3	factor	factor	NOUN
fsr-3927	135	4	is	be	AUX
fsr-3927	135	5	fund	fund	NOUN
fsr-3927	135	6	group	group	NOUN
fsr-3927	135	7	:	:	PUNCT
fsr-3927	135	8	cecfs	cecfs	VERB
fsr-3927	135	9	with	with	ADP
fsr-3927	135	10	and	and	CCONJ
fsr-3927	135	11	without	without	ADP
fsr-3927	135	12	a	a	DET
fsr-3927	135	13	corresponding	corresponding	ADJ
fsr-3927	135	14	webs	webs	NOUN
fsr-3927	135	15	index	index	NOUN
fsr-3927	135	16	.	.	PUNCT
fsr-3927	136	1	to	to	PART
fsr-3927	136	2	construct	construct	VERB
fsr-3927	136	3	the	the	DET
fsr-3927	136	4	model	model	NOUN
fsr-3927	136	5	,	,	PUNCT
fsr-3927	136	6	again	again	ADV
fsr-3927	136	7	let	let	VERB
fsr-3927	136	8	y	y	PRON
fsr-3927	136	9	be	be	AUX
fsr-3927	136	10	a	a	DET
fsr-3927	136	11	fund	fund	NOUN
fsr-3927	136	12	’s	’s	PART
fsr-3927	136	13	observed	observe	VERB
fsr-3927	136	14	percentage	percentage	NOUN
fsr-3927	136	15	discount	discount	NOUN
fsr-3927	136	16	.	.	PUNCT
fsr-3927	137	1	the	the	DET
fsr-3927	137	2	dummy	dummy	ADJ
fsr-3927	137	3	regression	regression	NOUN
fsr-3927	137	4	is	be	AUX
fsr-3927	137	5	:	:	PUNCT
fsr-3927	137	6	y	y	PROPN
fsr-3927	137	7	5	5	NUM
fsr-3927	137	8	m	m	NOUN
fsr-3927	137	9	1	1	NUM
fsr-3927	137	10	ad1	ad1	PROPN
fsr-3927	137	11	1	1	NUM
fsr-3927	137	12	gd2	gd2	NOUN
fsr-3927	137	13	1	1	NUM
fsr-3927	137	14	qd1d2	qd1d2	PROPN
fsr-3927	137	15	1	1	NUM
fsr-3927	137	16	«	«	PUNCT
fsr-3927	137	17	«	«	PUNCT
fsr-3927	137	18	;	;	PUNCT
fsr-3927	137	19	n(0	n(0	PROPN
fsr-3927	137	20	,	,	PUNCT
fsr-3927	137	21	s2	s2	PROPN
fsr-3927	137	22	)	)	PUNCT
fsr-3927	137	23	(	(	PUNCT
fsr-3927	137	24	6	6	NUM
fsr-3927	137	25	)	)	PUNCT
fsr-3927	137	26	where	where	SCONJ
fsr-3927	137	27	:	:	PUNCT
fsr-3927	137	28	d1	d1	PROPN
fsr-3927	137	29	5	5	NUM
fsr-3927	137	30	h	h	NOUN
fsr-3927	137	31	1	1	NUM
fsr-3927	137	32	if	if	SCONJ
fsr-3927	137	33	the	the	DET
fsr-3927	137	34	observation	observation	NOUN
fsr-3927	137	35	is	be	AUX
fsr-3927	137	36	in	in	ADP
fsr-3927	137	37	the	the	DET
fsr-3927	137	38	pre	pre	NOUN
fsr-3927	137	39	-	-	NOUN
fsr-3927	137	40	event	event	ADJ
fsr-3927	137	41	window	window	NOUN
fsr-3927	137	42	21	21	NUM
fsr-3927	137	43	if	if	SCONJ
fsr-3927	137	44	the	the	DET
fsr-3927	137	45	observation	observation	NOUN
fsr-3927	137	46	is	be	AUX
fsr-3927	137	47	in	in	ADP
fsr-3927	137	48	the	the	DET
fsr-3927	137	49	post	post	ADJ
fsr-3927	137	50	-	-	ADJ
fsr-3927	137	51	event	event	ADJ
fsr-3927	137	52	window	window	NOUN
fsr-3927	137	53	d2	d2	PROPN
fsr-3927	137	54	5	5	NUM
fsr-3927	137	55	h	h	NOUN
fsr-3927	137	56	1	1	NUM
fsr-3927	137	57	if	if	SCONJ
fsr-3927	137	58	the	the	DET
fsr-3927	137	59	observation	observation	NOUN
fsr-3927	137	60	is	be	AUX
fsr-3927	137	61	from	from	ADP
fsr-3927	137	62	a	a	DET
fsr-3927	137	63	cecf	cecf	NOUN
fsr-3927	137	64	with	with	ADP
fsr-3927	137	65	a	a	DET
fsr-3927	137	66	corresponding	correspond	VERB
fsr-3927	137	67	webs	webs	NOUN
fsr-3927	137	68	index	index	NOUN
fsr-3927	137	69	21	21	NUM
fsr-3927	137	70	if	if	SCONJ
fsr-3927	137	71	the	the	DET
fsr-3927	137	72	observation	observation	NOUN
fsr-3927	137	73	is	be	AUX
fsr-3927	137	74	from	from	ADP
fsr-3927	137	75	a	a	DET
fsr-3927	137	76	cecf	cecf	NOUN
fsr-3927	137	77	with	with	ADP
fsr-3927	137	78	no	no	DET
fsr-3927	137	79	corresponding	correspond	VERB
fsr-3927	137	80	webs	webs	NOUN
fsr-3927	137	81	index	index	NOUN
fsr-3927	137	82	we	we	PRON
fsr-3927	137	83	estimate	estimate	VERB
fsr-3927	137	84	the	the	DET
fsr-3927	137	85	model	model	NOUN
fsr-3927	137	86	as	as	ADP
fsr-3927	137	87	a	a	DET
fsr-3927	137	88	single	single	ADJ
fsr-3927	137	89	regression	regression	NOUN
fsr-3927	137	90	on	on	ADP
fsr-3927	137	91	a	a	DET
fsr-3927	137	92	pooled	pooled	ADJ
fsr-3927	137	93	sample	sample	NOUN
fsr-3927	137	94	of	of	ADP
fsr-3927	137	95	percentage	percentage	NOUN
fsr-3927	137	96	discounts	discount	NOUN
fsr-3927	137	97	from	from	ADP
fsr-3927	137	98	all	all	DET
fsr-3927	137	99	43	43	NUM
fsr-3927	137	100	funds	fund	NOUN
fsr-3927	137	101	.	.	PUNCT
fsr-3927	138	1	hence	hence	ADV
fsr-3927	138	2	,	,	PUNCT
fsr-3927	138	3	m	m	VERB
fsr-3927	138	4	is	be	AUX
fsr-3927	138	5	the	the	DET
fsr-3927	138	6	average	average	ADJ
fsr-3927	138	7	discount	discount	NOUN
fsr-3927	138	8	over	over	ADP
fsr-3927	138	9	the	the	DET
fsr-3927	138	10	entire	entire	ADJ
fsr-3927	138	11	sample	sample	NOUN
fsr-3927	138	12	period	period	NOUN
fsr-3927	138	13	for	for	ADP
fsr-3927	138	14	all	all	DET
fsr-3927	138	15	funds	fund	NOUN
fsr-3927	138	16	.	.	PUNCT
fsr-3927	139	1	thea	thea	PROPN
fsr-3927	139	2	parameter	parameter	PROPN
fsr-3927	139	3	measures	measure	VERB
fsr-3927	139	4	the	the	DET
fsr-3927	139	5	effect	effect	NOUN
fsr-3927	139	6	due	due	ADP
fsr-3927	139	7	to	to	ADP
fsr-3927	139	8	the	the	DET
fsr-3927	139	9	time	time	NOUN
fsr-3927	139	10	factor	factor	NOUN
fsr-3927	139	11	,	,	PUNCT
fsr-3927	139	12	g	g	NOUN
fsr-3927	139	13	measures	measure	VERB
fsr-3927	139	14	the	the	DET
fsr-3927	139	15	effect	effect	NOUN
fsr-3927	139	16	due	due	ADP
fsr-3927	139	17	to	to	ADP
fsr-3927	139	18	fund	fund	NOUN
fsr-3927	139	19	type	type	NOUN
fsr-3927	139	20	,	,	PUNCT
fsr-3927	139	21	andq	andq	PROPN
fsr-3927	139	22	measures	measure	VERB
fsr-3927	139	23	the	the	DET
fsr-3927	139	24	interaction	interaction	NOUN
fsr-3927	139	25	effect	effect	NOUN
fsr-3927	139	26	between	between	ADP
fsr-3927	139	27	the	the	DET
fsr-3927	139	28	two	two	NUM
fsr-3927	139	29	factors	factor	NOUN
fsr-3927	139	30	.	.	PUNCT
fsr-3927	140	1	in	in	ADP
fsr-3927	140	2	order	order	NOUN
fsr-3927	140	3	to	to	PART
fsr-3927	140	4	investigate	investigate	VERB
fsr-3927	140	5	the	the	DET
fsr-3927	140	6	differential	differential	ADJ
fsr-3927	140	7	impact	impact	NOUN
fsr-3927	140	8	on	on	ADP
fsr-3927	140	9	cecfs	cecfs	NOUN
fsr-3927	140	10	,	,	PUNCT
fsr-3927	140	11	let	let	VERB
fsr-3927	140	12	the	the	DET
fsr-3927	140	13	subscript	subscript	NOUN
fsr-3927	140	14	i	i	PRON
fsr-3927	140	15	equal	equal	VERB
fsr-3927	140	16	1	1	NUM
fsr-3927	140	17	for	for	ADP
fsr-3927	140	18	a	a	DET
fsr-3927	140	19	pre	pre	ADJ
fsr-3927	140	20	-	-	ADJ
fsr-3927	140	21	event	event	ADJ
fsr-3927	140	22	observation	observation	NOUN
fsr-3927	140	23	and	and	CCONJ
fsr-3927	140	24	2	2	NUM
fsr-3927	140	25	otherwise	otherwise	ADV
fsr-3927	140	26	.	.	PUNCT
fsr-3927	141	1	let	let	VERB
fsr-3927	141	2	the	the	DET
fsr-3927	141	3	subscript	subscript	NOUN
fsr-3927	141	4	k	k	PROPN
fsr-3927	141	5	equal	equal	ADJ
fsr-3927	141	6	1	1	NUM
fsr-3927	141	7	for	for	ADP
fsr-3927	141	8	an	an	DET
fsr-3927	141	9	observation	observation	NOUN
fsr-3927	141	10	from	from	ADP
fsr-3927	141	11	a	a	DET
fsr-3927	141	12	cecf	cecf	NOUN
fsr-3927	141	13	with	with	ADP
fsr-3927	141	14	a	a	DET
fsr-3927	141	15	corresponding	correspond	VERB
fsr-3927	141	16	webs	webs	NOUN
fsr-3927	141	17	and	and	CCONJ
fsr-3927	141	18	2	2	NUM
fsr-3927	141	19	otherwise	otherwise	ADV
fsr-3927	141	20	.	.	PUNCT
fsr-3927	142	1	then	then	ADV
fsr-3927	142	2	the	the	DET
fsr-3927	142	3	mean	mean	ADJ
fsr-3927	142	4	percentage	percentage	NOUN
fsr-3927	142	5	discount	discount	NOUN
fsr-3927	142	6	(	(	PUNCT
fsr-3927	142	7	mik	mik	PROPN
fsr-3927	142	8	)	)	PUNCT
fsr-3927	142	9	for	for	ADP
fsr-3927	142	10	each	each	DET
fsr-3927	142	11	level	level	NOUN
fsr-3927	142	12	of	of	ADP
fsr-3927	142	13	each	each	DET
fsr-3927	142	14	factor	factor	NOUN
fsr-3927	142	15	can	can	AUX
fsr-3927	142	16	be	be	AUX
fsr-3927	142	17	recovered	recover	VERB
fsr-3927	142	18	from	from	ADP
fsr-3927	142	19	the	the	DET
fsr-3927	142	20	model	model	NOUN
fsr-3927	142	21	via	via	ADP
fsr-3927	142	22	substitution	substitution	NOUN
fsr-3927	142	23	.	.	PUNCT
fsr-3927	143	1	for	for	ADP
fsr-3927	143	2	example	example	NOUN
fsr-3927	143	3	:	:	PUNCT
fsr-3927	143	4	264	264	NUM
fsr-3927	143	5	m.	m.	NOUN
fsr-3927	143	6	o’connor	o’connor	ADV
fsr-3927	143	7	,	,	PUNCT
fsr-3927	143	8	e.a	e.a	PROPN
fsr-3927	143	9	.	.	PROPN
fsr-3927	143	10	downe	downe	PROPN
fsr-3927	143	11	/	/	SYM
fsr-3927	143	12	financial	financial	ADJ
fsr-3927	143	13	services	service	NOUN
fsr-3927	143	14	review	review	VERB
fsr-3927	143	15	9	9	NUM
fsr-3927	143	16	(	(	PUNCT
fsr-3927	143	17	2000	2000	NUM
fsr-3927	143	18	)	)	PUNCT
fsr-3927	144	1	259–275	259–275	NUM
fsr-3927	144	2	table	table	NOUN
fsr-3927	144	3	1	1	NUM
fsr-3927	144	4	descriptive	descriptive	ADJ
fsr-3927	144	5	statistics	statistic	NOUN
fsr-3927	144	6	fund	fund	NOUN
fsr-3927	144	7	name	name	NOUN
fsr-3927	144	8	mean	mean	VERB
fsr-3927	144	9	percentage	percentage	NOUN
fsr-3927	144	10	discount	discount	NOUN
fsr-3927	144	11	mean	mean	VERB
fsr-3927	144	12	daily	daily	ADJ
fsr-3927	144	13	volume	volume	NOUN
fsr-3927	144	14	funds	fund	NOUN
fsr-3927	144	15	with	with	ADP
fsr-3927	144	16	a	a	DET
fsr-3927	144	17	corresponding	correspond	VERB
fsr-3927	144	18	webs	webs	NOUN
fsr-3927	144	19	austria	austria	PROPN
fsr-3927	144	20	fund	fund	PROPN
fsr-3927	144	21	16.9	16.9	NUM
fsr-3927	144	22	%	%	NOUN
fsr-3927	144	23	22,097	22,097	NUM
fsr-3927	144	24	canadian	canadian	ADJ
fsr-3927	144	25	general	general	PROPN
fsr-3927	144	26	investments	investments	PROPN
fsr-3927	144	27	ltd	ltd	PROPN
fsr-3927	144	28	23.7	23.7	NUM
fsr-3927	144	29	%	%	NOUN
fsr-3927	144	30	na	na	ADP
fsr-3927	144	31	emerging	emerge	VERB
fsr-3927	144	32	mexico	mexico	PROPN
fsr-3927	144	33	fund	fund	NOUN
fsr-3927	144	34	2.2	2.2	NUM
fsr-3927	144	35	%	%	NOUN
fsr-3927	144	36	na	na	ADP
fsr-3927	144	37	first	first	PROPN
fsr-3927	144	38	australia	australia	PROPN
fsr-3927	144	39	fund	fund	NOUN
fsr-3927	144	40	14.1	14.1	NUM
fsr-3927	144	41	%	%	NOUN
fsr-3927	144	42	45,420	45,420	NUM
fsr-3927	144	43	france	france	PROPN
fsr-3927	144	44	growth	growth	PROPN
fsr-3927	144	45	fund	fund	NOUN
fsr-3927	144	46	17.1	17.1	NUM
fsr-3927	144	47	%	%	NOUN
fsr-3927	144	48	28,544	28,544	NUM
fsr-3927	144	49	germany	germany	PROPN
fsr-3927	144	50	fund	fund	PROPN
fsr-3927	144	51	16.4	16.4	NUM
fsr-3927	144	52	%	%	NOUN
fsr-3927	144	53	44,572	44,572	NUM
fsr-3927	144	54	growth	growth	NOUN
fsr-3927	144	55	fund	fund	NOUN
fsr-3927	144	56	of	of	ADP
fsr-3927	144	57	spain	spain	PROPN
fsr-3927	144	58	18.5	18.5	NUM
fsr-3927	144	59	%	%	NOUN
fsr-3927	144	60	na	na	PROPN
fsr-3927	144	61	italy	italy	PROPN
fsr-3927	144	62	fund	fund	NOUN
fsr-3927	144	63	12.2	12.2	NUM
fsr-3927	144	64	%	%	NOUN
fsr-3927	144	65	32,964	32,964	NUM
fsr-3927	144	66	japan	japan	PROPN
fsr-3927	144	67	equity	equity	PROPN
fsr-3927	144	68	fund	fund	PROPN
fsr-3927	144	69	28.1	28.1	NUM
fsr-3927	144	70	%	%	NOUN
fsr-3927	144	71	54,402	54,402	NUM
fsr-3927	144	72	japan	japan	PROPN
fsr-3927	144	73	otc	otc	PROPN
fsr-3927	144	74	equity	equity	PROPN
fsr-3927	144	75	fund	fund	PROPN
fsr-3927	144	76	24.8	24.8	NUM
fsr-3927	144	77	%	%	NOUN
fsr-3927	144	78	47,528	47,528	NUM
fsr-3927	144	79	malaysia	malaysia	PROPN
fsr-3927	144	80	fund	fund	NOUN
fsr-3927	144	81	5.7	5.7	NUM
fsr-3927	144	82	%	%	NOUN
fsr-3927	144	83	31,929	31,929	NUM
fsr-3927	144	84	mexico	mexico	PROPN
fsr-3927	144	85	equity	equity	PROPN
fsr-3927	144	86	&	&	CCONJ
fsr-3927	144	87	income	income	PROPN
fsr-3927	144	88	fund	fund	PROPN
fsr-3927	144	89	2.2	2.2	NUM
fsr-3927	144	90	%	%	NOUN
fsr-3927	144	91	50,991	50,991	NUM
fsr-3927	144	92	mexico	mexico	PROPN
fsr-3927	144	93	fund	fund	NOUN
fsr-3927	144	94	6.4	6.4	NUM
fsr-3927	144	95	%	%	NOUN
fsr-3927	144	96	317,097	317,097	NUM
fsr-3927	144	97	new	new	PROPN
fsr-3927	144	98	germany	germany	PROPN
fsr-3927	144	99	fund	fund	NOUN
fsr-3927	144	100	21.0	21.0	NUM
fsr-3927	144	101	%	%	NOUN
fsr-3927	144	102	87,823	87,823	NUM
fsr-3927	144	103	singapore	singapore	PROPN
fsr-3927	144	104	fund	fund	PROPN
fsr-3927	144	105	21.7	21.7	NUM
fsr-3927	144	106	%	%	NOUN
fsr-3927	144	107	23,921	23,921	NUM
fsr-3927	144	108	spain	spain	PROPN
fsr-3927	144	109	fund	fund	PROPN
fsr-3927	144	110	15.0	15.0	NUM
fsr-3927	144	111	%	%	NOUN
fsr-3927	144	112	27,183	27,183	NUM
fsr-3927	144	113	swiss	swiss	PROPN
fsr-3927	144	114	helvetia	helvetia	PROPN
fsr-3927	144	115	fund	fund	PROPN
fsr-3927	144	116	10.5	10.5	NUM
fsr-3927	144	117	%	%	NOUN
fsr-3927	144	118	27,619	27,619	NUM
fsr-3927	144	119	united	united	PROPN
fsr-3927	144	120	kingdom	kingdom	PROPN
fsr-3927	144	121	fund	fund	PROPN
fsr-3927	144	122	15.5	15.5	NUM
fsr-3927	144	123	%	%	NOUN
fsr-3927	144	124	na	na	NOUN
fsr-3927	144	125	funds	fund	NOUN
fsr-3927	144	126	without	without	ADP
fsr-3927	144	127	a	a	DET
fsr-3927	144	128	corresponding	correspond	VERB
fsr-3927	144	129	webs	webs	NOUN
fsr-3927	144	130	argentina	argentina	PROPN
fsr-3927	144	131	fund	fund	PROPN
fsr-3927	144	132	0.4	0.4	NUM
fsr-3927	144	133	%	%	NOUN
fsr-3927	144	134	49,137	49,137	NUM
fsr-3927	144	135	brazil	brazil	PROPN
fsr-3927	144	136	fund	fund	NOUN
fsr-3927	144	137	4.4	4.4	NUM
fsr-3927	144	138	%	%	NOUN
fsr-3927	144	139	86,095	86,095	NUM
fsr-3927	144	140	brazilian	brazilian	ADJ
fsr-3927	144	141	equity	equity	NOUN
fsr-3927	144	142	fund	fund	PROPN
fsr-3927	144	143	2.2	2.2	NUM
fsr-3927	144	144	%	%	NOUN
fsr-3927	144	145	45,249	45,249	NUM
fsr-3927	144	146	chile	chile	PROPN
fsr-3927	144	147	fund	fund	NOUN
fsr-3927	144	148	9.7	9.7	NUM
fsr-3927	144	149	%	%	NOUN
fsr-3927	144	150	39,204	39,204	NUM
fsr-3927	144	151	china	china	PROPN
fsr-3927	144	152	fund	fund	PROPN
fsr-3927	144	153	21.8	21.8	NUM
fsr-3927	144	154	%	%	NOUN
fsr-3927	144	155	40,359	40,359	NUM
fsr-3927	144	156	first	first	PROPN
fsr-3927	144	157	israel	israel	PROPN
fsr-3927	144	158	fund	fund	PROPN
fsr-3927	144	159	2.9	2.9	NUM
fsr-3927	144	160	%	%	NOUN
fsr-3927	144	161	40,211	40,211	NUM
fsr-3927	144	162	fidelity	fidelity	PROPN
fsr-3927	144	163	philippine	philippine	PROPN
fsr-3927	144	164	fund	fund	NOUN
fsr-3927	144	165	18.8	18.8	NUM
fsr-3927	144	166	%	%	NOUN
fsr-3927	144	167	130,587	130,587	NUM
fsr-3927	144	168	greater	great	ADJ
fsr-3927	144	169	china	china	PROPN
fsr-3927	144	170	fund	fund	PROPN
fsr-3927	144	171	6.9	6.9	NUM
fsr-3927	144	172	%	%	NOUN
fsr-3927	144	173	34,686	34,686	NUM
fsr-3927	144	174	india	india	PROPN
fsr-3927	144	175	fund	fund	PROPN
fsr-3927	144	176	6.5	6.5	NUM
fsr-3927	144	177	%	%	NOUN
fsr-3927	144	178	14,098	14,098	NUM
fsr-3927	144	179	india	india	PROPN
fsr-3927	144	180	growth	growth	PROPN
fsr-3927	144	181	fund	fund	NOUN
fsr-3927	144	182	27.0	27.0	NUM
fsr-3927	144	183	%	%	NOUN
fsr-3927	144	184	11,471	11,471	NUM
fsr-3927	144	185	irish	irish	PROPN
fsr-3927	144	186	investment	investment	NOUN
fsr-3927	144	187	fund	fund	NOUN
fsr-3927	144	188	13.3	13.3	NUM
fsr-3927	144	189	%	%	NOUN
fsr-3927	144	190	34,384	34,384	NUM
fsr-3927	144	191	jardine	jardine	PROPN
fsr-3927	144	192	fleming	fleming	PROPN
fsr-3927	144	193	china	china	PROPN
fsr-3927	144	194	region	region	PROPN
fsr-3927	144	195	fund	fund	PROPN
fsr-3927	144	196	5.2	5.2	NUM
fsr-3927	144	197	%	%	NOUN
fsr-3927	144	198	124,198	124,198	NUM
fsr-3927	144	199	jardine	jardine	PROPN
fsr-3927	144	200	fleming	fleming	PROPN
fsr-3927	144	201	india	india	PROPN
fsr-3927	144	202	fund	fund	PROPN
fsr-3927	144	203	1.1	1.1	NUM
fsr-3927	144	204	%	%	NOUN
fsr-3927	144	205	31,099	31,099	NUM
fsr-3927	144	206	korea	korea	PROPN
fsr-3927	144	207	equity	equity	PROPN
fsr-3927	144	208	fund	fund	PROPN
fsr-3927	144	209	3.4	3.4	NUM
fsr-3927	144	210	%	%	NOUN
fsr-3927	144	211	37,033	37,033	NUM
fsr-3927	144	212	korea	korea	PROPN
fsr-3927	144	213	fund	fund	PROPN
fsr-3927	144	214	29.1	29.1	NUM
fsr-3927	144	215	%	%	NOUN
fsr-3927	144	216	136,821	136,821	NUM
fsr-3927	144	217	korean	korean	ADJ
fsr-3927	144	218	investment	investment	NOUN
fsr-3927	144	219	fund	fund	NOUN
fsr-3927	144	220	3.0	3.0	NUM
fsr-3927	144	221	%	%	NOUN
fsr-3927	144	222	39,131	39,131	NUM
fsr-3927	144	223	morgan	morgan	PROPN
fsr-3927	144	224	stanley	stanley	PROPN
fsr-3927	144	225	indian	indian	PROPN
fsr-3927	144	226	fund	fund	PROPN
fsr-3927	144	227	1.9	1.9	NUM
fsr-3927	144	228	%	%	NOUN
fsr-3927	144	229	55,896	55,896	NUM
fsr-3927	144	230	new	new	ADJ
fsr-3927	144	231	south	south	PROPN
fsr-3927	144	232	africa	africa	PROPN
fsr-3927	144	233	fund	fund	PROPN
fsr-3927	144	234	18.8	18.8	NUM
fsr-3927	144	235	%	%	NOUN
fsr-3927	144	236	76,657	76,657	NUM
fsr-3927	144	237	pakistan	pakistan	PROPN
fsr-3927	144	238	investment	investment	NOUN
fsr-3927	144	239	fund	fund	NOUN
fsr-3927	144	240	12.8	12.8	NUM
fsr-3927	144	241	%	%	NOUN
fsr-3927	144	242	39,120	39,120	NUM
fsr-3927	144	243	roc	roc	PROPN
fsr-3927	144	244	taiwan	taiwan	PROPN
fsr-3927	144	245	fund	fund	NOUN
fsr-3927	144	246	0.0	0.0	NUM
fsr-3927	144	247	%	%	NOUN
fsr-3927	144	248	25,720	25,720	NUM
fsr-3927	144	249	taiwan	taiwan	PROPN
fsr-3927	144	250	fund	fund	NOUN
fsr-3927	144	251	22.9	22.9	NUM
fsr-3927	144	252	%	%	NOUN
fsr-3927	144	253	19,338	19,338	NUM
fsr-3927	144	254	templeton	templeton	PROPN
fsr-3927	144	255	china	china	PROPN
fsr-3927	144	256	world	world	PROPN
fsr-3927	144	257	fund	fund	PROPN
fsr-3927	144	258	7.3	7.3	NUM
fsr-3927	144	259	%	%	NOUN
fsr-3927	144	260	78,475	78,475	NUM
fsr-3927	144	261	thai	thai	PROPN
fsr-3927	144	262	capital	capital	PROPN
fsr-3927	144	263	fund	fund	PROPN
fsr-3927	144	264	6.7	6.7	NUM
fsr-3927	144	265	%	%	NOUN
fsr-3927	144	266	48,554	48,554	NUM
fsr-3927	144	267	thai	thai	PROPN
fsr-3927	144	268	fund	fund	PROPN
fsr-3927	144	269	6.4	6.4	NUM
fsr-3927	144	270	%	%	NOUN
fsr-3927	144	271	27,581	27,581	NUM
fsr-3927	144	272	turkish	turkish	ADJ
fsr-3927	144	273	investment	investment	NOUN
fsr-3927	144	274	fund	fund	NOUN
fsr-3927	144	275	215.6	215.6	NUM
fsr-3927	144	276	%	%	NOUN
fsr-3927	144	277	28,825	28,825	NUM
fsr-3927	144	278	calculations	calculation	NOUN
fsr-3927	144	279	based	base	VERB
fsr-3927	144	280	on	on	ADP
fsr-3927	144	281	160	160	NUM
fsr-3927	144	282	total	total	ADJ
fsr-3927	144	283	observations	observation	NOUN
fsr-3927	144	284	.	.	PUNCT
fsr-3927	145	1	na	na	ADP
fsr-3927	145	2	5	5	NUM
fsr-3927	145	3	not	not	PART
fsr-3927	145	4	available	available	ADJ
fsr-3927	145	5	.	.	PUNCT
fsr-3927	146	1	265	265	NUM
fsr-3927	146	2	m.	m.	NOUN
fsr-3927	146	3	o’connor	o’connor	ADV
fsr-3927	146	4	,	,	PUNCT
fsr-3927	146	5	e.a	e.a	PROPN
fsr-3927	146	6	.	.	PROPN
fsr-3927	146	7	downe	downe	PROPN
fsr-3927	146	8	/	/	SYM
fsr-3927	146	9	financial	financial	ADJ
fsr-3927	146	10	services	service	NOUN
fsr-3927	146	11	review	review	VERB
fsr-3927	146	12	9	9	NUM
fsr-3927	146	13	(	(	PUNCT
fsr-3927	146	14	2000	2000	NUM
fsr-3927	146	15	)	)	PUNCT
fsr-3927	147	1	259–275	259–275	NUM
fsr-3927	147	2	5	5	NUM
fsr-3927	147	3	m11	m11	NOUN
fsr-3927	147	4	5	5	NUM
fsr-3927	147	5	m	m	NOUN
fsr-3927	147	6	2	2	NUM
fsr-3927	147	7	a	a	DET
fsr-3927	147	8	2	2	NUM
fsr-3927	147	9	g	g	NOUN
fsr-3927	147	10	1	1	NUM
fsr-3927	147	11	q	q	NOUN
fsr-3927	147	12	m21	m21	PROPN
fsr-3927	147	13	5	5	NUM
fsr-3927	147	14	m	m	NOUN
fsr-3927	147	15	1	1	NUM
fsr-3927	147	16	a	a	DET
fsr-3927	147	17	2	2	NUM
fsr-3927	147	18	g	g	NOUN
fsr-3927	147	19	2	2	NUM
fsr-3927	147	20	q	q	NOUN
fsr-3927	147	21	m12	m12	NUM
fsr-3927	147	22	5	5	NUM
fsr-3927	147	23	m	m	NOUN
fsr-3927	147	24	2	2	NUM
fsr-3927	147	25	a	a	DET
fsr-3927	147	26	1	1	NUM
fsr-3927	147	27	g	g	NOUN
fsr-3927	147	28	2	2	NUM
fsr-3927	147	29	q	q	NOUN
fsr-3927	147	30	m22	m22	PROPN
fsr-3927	147	31	5	5	NUM
fsr-3927	147	32	m	m	PROPN
fsr-3927	147	33	1	1	NUM
fsr-3927	147	34	a	a	DET
fsr-3927	147	35	1	1	NUM
fsr-3927	147	36	g	g	NOUN
fsr-3927	147	37	1	1	NUM
fsr-3927	147	38	q	q	NOUN
fsr-3927	147	39	(	(	PUNCT
fsr-3927	147	40	7	7	NUM
fsr-3927	147	41	)	)	PUNCT
fsr-3927	147	42	the	the	DET
fsr-3927	147	43	relevant	relevant	ADJ
fsr-3927	147	44	null	null	ADJ
fsr-3927	147	45	hypotheses	hypothesis	NOUN
fsr-3927	147	46	are	be	AUX
fsr-3927	147	47	:	:	PUNCT
fsr-3927	147	48	1	1	X
fsr-3927	147	49	.	.	X
fsr-3927	147	50	h0	h0	PROPN
fsr-3927	147	51	:	:	PUNCT
fsr-3927	147	52	m21	m21	PROPN
fsr-3927	147	53	2	2	NUM
fsr-3927	147	54	m11	m11	NOUN
fsr-3927	147	55	5	5	NUM
fsr-3927	147	56	0	0	NUM
fsr-3927	147	57	the	the	DET
fsr-3927	147	58	change	change	NOUN
fsr-3927	147	59	in	in	ADP
fsr-3927	147	60	the	the	DET
fsr-3927	147	61	mean	mean	ADJ
fsr-3927	147	62	percentage	percentage	NOUN
fsr-3927	147	63	discount	discount	NOUN
fsr-3927	147	64	for	for	ADP
fsr-3927	147	65	funds	fund	NOUN
fsr-3927	147	66	with	with	ADP
fsr-3927	147	67	a	a	DET
fsr-3927	147	68	corresponding	corresponding	ADJ
fsr-3927	147	69	webs	webs	NOUN
fsr-3927	147	70	index	index	NOUN
fsr-3927	147	71	is	be	AUX
fsr-3927	147	72	zero	zero	NUM
fsr-3927	147	73	.	.	PUNCT
fsr-3927	148	1	2	2	X
fsr-3927	148	2	.	.	X
fsr-3927	148	3	h0	h0	PROPN
fsr-3927	148	4	:	:	PUNCT
fsr-3927	148	5	m22	m22	PROPN
fsr-3927	148	6	2	2	NUM
fsr-3927	148	7	m12	m12	PROPN
fsr-3927	148	8	5	5	NUM
fsr-3927	148	9	0	0	NUM
fsr-3927	149	1	the	the	DET
fsr-3927	149	2	change	change	NOUN
fsr-3927	149	3	in	in	ADP
fsr-3927	149	4	the	the	DET
fsr-3927	149	5	mean	mean	ADJ
fsr-3927	149	6	percentage	percentage	NOUN
fsr-3927	149	7	discount	discount	NOUN
fsr-3927	149	8	for	for	ADP
fsr-3927	149	9	funds	fund	NOUN
fsr-3927	149	10	with	with	ADP
fsr-3927	149	11	no	no	DET
fsr-3927	149	12	corresponding	correspond	VERB
fsr-3927	149	13	webs	webs	NOUN
fsr-3927	149	14	index	index	NOUN
fsr-3927	149	15	is	be	AUX
fsr-3927	149	16	zero	zero	NUM
fsr-3927	149	17	.	.	PUNCT
fsr-3927	150	1	3	3	X
fsr-3927	150	2	.	.	X
fsr-3927	150	3	h0	h0	PROPN
fsr-3927	150	4	:	:	PUNCT
fsr-3927	150	5	m21	m21	PROPN
fsr-3927	150	6	2	2	NUM
fsr-3927	150	7	m11	m11	NOUN
fsr-3927	150	8	2	2	NUM
fsr-3927	150	9	(	(	PUNCT
fsr-3927	150	10	m22	m22	PROPN
fsr-3927	150	11	2	2	NUM
fsr-3927	150	12	m12	m12	PROPN
fsr-3927	150	13	)	)	PUNCT
fsr-3927	150	14	5	5	NUM
fsr-3927	150	15	0	0	NUM
fsr-3927	151	1	the	the	DET
fsr-3927	151	2	change	change	NOUN
fsr-3927	151	3	in	in	ADP
fsr-3927	151	4	the	the	DET
fsr-3927	151	5	mean	mean	ADJ
fsr-3927	151	6	percentage	percentage	NOUN
fsr-3927	151	7	discount	discount	NOUN
fsr-3927	151	8	for	for	ADP
fsr-3927	151	9	funds	fund	NOUN
fsr-3927	151	10	with	with	ADP
fsr-3927	151	11	a	a	DET
fsr-3927	151	12	corresponding	corresponding	ADJ
fsr-3927	151	13	webs	webs	NOUN
fsr-3927	151	14	index	index	NOUN
fsr-3927	151	15	is	be	AUX
fsr-3927	151	16	no	no	ADV
fsr-3927	151	17	different	different	ADJ
fsr-3927	151	18	than	than	ADP
fsr-3927	151	19	for	for	ADP
fsr-3927	151	20	funds	fund	NOUN
fsr-3927	151	21	without	without	ADP
fsr-3927	151	22	a	a	DET
fsr-3927	151	23	corresponding	corresponding	ADJ
fsr-3927	151	24	webs	webs	NOUN
fsr-3927	151	25	index	index	NOUN
fsr-3927	151	26	.	.	PUNCT
fsr-3927	152	1	coefficient	coefficient	NOUN
fsr-3927	152	2	restriction	restriction	NOUN
fsr-3927	152	3	tests	test	NOUN
fsr-3927	152	4	of	of	ADP
fsr-3927	152	5	these	these	DET
fsr-3927	152	6	hypotheses	hypothesis	NOUN
fsr-3927	152	7	can	can	AUX
fsr-3927	152	8	be	be	AUX
fsr-3927	152	9	constructed	construct	VERB
fsr-3927	152	10	from	from	ADP
fsr-3927	152	11	the	the	DET
fsr-3927	152	12	definitions	definition	NOUN
fsr-3927	152	13	of	of	ADP
fsr-3927	152	14	the	the	DET
fsr-3927	152	15	mik	mik	PROPN
fsr-3927	152	16	.	.	PROPN
fsr-3927	152	17	4	4	NUM
fsr-3927	152	18	.	.	NOUN
fsr-3927	152	19	results	result	VERB
fsr-3927	152	20	4.1	4.1	NUM
fsr-3927	152	21	.	.	PUNCT
fsr-3927	153	1	results	result	NOUN
fsr-3927	153	2	of	of	ADP
fsr-3927	153	3	the	the	DET
fsr-3927	153	4	modified	modify	VERB
fsr-3927	153	5	event	event	NOUN
fsr-3927	153	6	study	study	NOUN
fsr-3927	153	7	table	table	NOUN
fsr-3927	153	8	2	2	NUM
fsr-3927	153	9	—	—	PUNCT
fsr-3927	153	10	panel	panel	NOUN
fsr-3927	153	11	a	a	DET
fsr-3927	153	12	presents	present	NOUN
fsr-3927	153	13	results	result	NOUN
fsr-3927	153	14	for	for	ADP
fsr-3927	153	15	the	the	DET
fsr-3927	153	16	j5	j5	PROPN
fsr-3927	153	17	18	18	NUM
fsr-3927	153	18	funds	fund	NOUN
fsr-3927	153	19	with	with	ADP
fsr-3927	153	20	corresponding	corresponding	ADJ
fsr-3927	153	21	webs	webs	NOUN
fsr-3927	153	22	indexes	index	NOUN
fsr-3927	153	23	.	.	PUNCT
fsr-3927	154	1	for	for	ADP
fsr-3927	154	2	each	each	DET
fsr-3927	154	3	individual	individual	ADJ
fsr-3927	154	4	equation	equation	NOUN
fsr-3927	154	5	,	,	PUNCT
fsr-3927	154	6	the	the	DET
fsr-3927	154	7	intercept	intercept	NOUN
fsr-3927	154	8	shows	show	VERB
fsr-3927	154	9	a	a	DET
fsr-3927	154	10	fund	fund	NOUN
fsr-3927	154	11	’s	’s	PART
fsr-3927	154	12	mean	mean	ADJ
fsr-3927	154	13	percentage	percentage	NOUN
fsr-3927	154	14	discount	discount	NOUN
fsr-3927	154	15	over	over	ADP
fsr-3927	154	16	the	the	DET
fsr-3927	154	17	pre	pre	ADJ
fsr-3927	154	18	-	-	ADJ
fsr-3927	154	19	event	event	ADJ
fsr-3927	154	20	estimation	estimation	NOUN
fsr-3927	154	21	window	window	NOUN
fsr-3927	154	22	.	.	PUNCT
fsr-3927	155	1	each	each	DET
fsr-3927	155	2	fund	fund	NOUN
fsr-3927	155	3	’s	’s	PART
fsr-3927	155	4	intercept	intercept	NOUN
fsr-3927	155	5	remains	remain	VERB
fsr-3927	155	6	constant	constant	ADJ
fsr-3927	155	7	,	,	PUNCT
fsr-3927	155	8	regardless	regardless	ADV
fsr-3927	155	9	of	of	ADP
fsr-3927	155	10	the	the	DET
fsr-3927	155	11	length	length	NOUN
fsr-3927	155	12	of	of	ADP
fsr-3927	155	13	the	the	DET
fsr-3927	155	14	post	post	ADJ
fsr-3927	155	15	-	-	ADJ
fsr-3927	155	16	event	event	ADJ
fsr-3927	155	17	window	window	NOUN
fsr-3927	155	18	.	.	PUNCT
fsr-3927	156	1	thebj	thebj	NOUN
fsr-3927	156	2	coefficients	coefficient	NOUN
fsr-3927	156	3	estimate	estimate	VERB
fsr-3927	156	4	the	the	DET
fsr-3927	156	5	change	change	NOUN
fsr-3927	156	6	in	in	ADP
fsr-3927	156	7	the	the	DET
fsr-3927	156	8	mean	mean	ADJ
fsr-3927	156	9	percentage	percentage	NOUN
fsr-3927	156	10	discount	discount	NOUN
fsr-3927	156	11	from	from	ADP
fsr-3927	156	12	the	the	DET
fsr-3927	156	13	preto	preto	NOUN
fsr-3927	156	14	the	the	DET
fsr-3927	156	15	post	post	ADJ
fsr-3927	156	16	-	-	ADJ
fsr-3927	156	17	event	event	ADJ
fsr-3927	156	18	period	period	NOUN
fsr-3927	156	19	.	.	PUNCT
fsr-3927	157	1	for	for	ADP
fsr-3927	157	2	the	the	DET
fsr-3927	157	3	13	13	NUM
fsr-3927	157	4	-	-	PUNCT
fsr-3927	157	5	week	week	NOUN
fsr-3927	157	6	window	window	NOUN
fsr-3927	157	7	,	,	PUNCT
fsr-3927	157	8	15	15	NUM
fsr-3927	157	9	of	of	ADP
fsr-3927	157	10	the	the	DET
fsr-3927	157	11	18	18	NUM
fsr-3927	157	12	funds	fund	NOUN
fsr-3927	157	13	(	(	PUNCT
fsr-3927	157	14	83	83	NUM
fsr-3927	157	15	%	%	NOUN
fsr-3927	157	16	)	)	PUNCT
fsr-3927	157	17	have	have	VERB
fsr-3927	157	18	positivebj	positivebj	NOUN
fsr-3927	157	19	coefficients	coefficient	NOUN
fsr-3927	157	20	,	,	PUNCT
fsr-3927	157	21	with	with	ADP
fsr-3927	157	22	14	14	NUM
fsr-3927	157	23	of	of	ADP
fsr-3927	157	24	the	the	DET
fsr-3927	157	25	positive	positive	ADJ
fsr-3927	157	26	estimates	estimate	NOUN
fsr-3927	157	27	significant	significant	ADJ
fsr-3927	157	28	at	at	ADP
fsr-3927	157	29	the	the	DET
fsr-3927	157	30	1	1	NUM
fsr-3927	157	31	%	%	NOUN
fsr-3927	157	32	level	level	NOUN
fsr-3927	157	33	.	.	PUNCT
fsr-3927	158	1	the	the	DET
fsr-3927	158	2	average	average	ADJ
fsr-3927	158	3	change	change	NOUN
fsr-3927	158	4	in	in	ADP
fsr-3927	158	5	percentage	percentage	NOUN
fsr-3927	158	6	discount	discount	NOUN
fsr-3927	158	7	is	be	AUX
fsr-3927	158	8	6.8	6.8	NUM
fsr-3927	158	9	%	%	NOUN
fsr-3927	158	10	.	.	PUNCT
fsr-3927	159	1	more	more	ADV
fsr-3927	159	2	importantly	importantly	ADV
fsr-3927	159	3	,	,	PUNCT
fsr-3927	159	4	the	the	DET
fsr-3927	159	5	hypothesis	hypothesis	NOUN
fsr-3927	159	6	that	that	PRON
fsr-3927	159	7	the	the	DET
fsr-3927	159	8	sum	sum	NOUN
fsr-3927	159	9	of	of	ADP
fsr-3927	159	10	thebj	thebj	ADJ
fsr-3927	159	11	coefficients	coefficient	NOUN
fsr-3927	159	12	equals	equal	VERB
fsr-3927	159	13	zero	zero	NUM
fsr-3927	159	14	is	be	AUX
fsr-3927	159	15	strongly	strongly	ADV
fsr-3927	159	16	rejected	reject	VERB
fsr-3927	159	17	.	.	PUNCT
fsr-3927	160	1	this	this	DET
fsr-3927	160	2	result	result	NOUN
fsr-3927	160	3	is	be	AUX
fsr-3927	160	4	analogous	analogous	ADJ
fsr-3927	160	5	to	to	ADP
fsr-3927	160	6	finding	find	VERB
fsr-3927	160	7	significant	significant	ADJ
fsr-3927	160	8	cars	car	NOUN
fsr-3927	160	9	in	in	ADP
fsr-3927	160	10	traditional	traditional	ADJ
fsr-3927	160	11	event	event	NOUN
fsr-3927	160	12	study	study	NOUN
fsr-3927	160	13	methods	method	NOUN
fsr-3927	160	14	.	.	PUNCT
fsr-3927	161	1	not	not	PART
fsr-3927	161	2	surprisingly	surprisingly	ADV
fsr-3927	161	3	,	,	PUNCT
fsr-3927	161	4	the	the	DET
fsr-3927	161	5	hypothesis	hypothesis	NOUN
fsr-3927	161	6	that	that	PRON
fsr-3927	161	7	thebj	thebj	ADJ
fsr-3927	161	8	coefficients	coefficient	NOUN
fsr-3927	161	9	are	be	AUX
fsr-3927	161	10	jointly	jointly	ADV
fsr-3927	161	11	zero	zero	NUM
fsr-3927	161	12	is	be	AUX
fsr-3927	161	13	also	also	ADV
fsr-3927	161	14	strongly	strongly	ADV
fsr-3927	161	15	rejected	reject	VERB
fsr-3927	161	16	.	.	PUNCT
fsr-3927	162	1	the	the	DET
fsr-3927	162	2	26	26	NUM
fsr-3927	162	3	-	-	PUNCT
fsr-3927	162	4	week	week	NOUN
fsr-3927	162	5	and	and	CCONJ
fsr-3927	162	6	52	52	NUM
fsr-3927	162	7	-	-	PUNCT
fsr-3927	162	8	week	week	NOUN
fsr-3927	162	9	post	post	ADJ
fsr-3927	162	10	-	-	ADJ
fsr-3927	162	11	event	event	NOUN
fsr-3927	162	12	runs	run	NOUN
fsr-3927	162	13	confirm	confirm	VERB
fsr-3927	162	14	that	that	SCONJ
fsr-3927	162	15	the	the	DET
fsr-3927	162	16	increase	increase	NOUN
fsr-3927	162	17	in	in	ADP
fsr-3927	162	18	percentage	percentage	NOUN
fsr-3927	162	19	discount	discount	NOUN
fsr-3927	162	20	persists	persist	VERB
fsr-3927	162	21	.	.	PUNCT
fsr-3927	163	1	in	in	ADP
fsr-3927	163	2	the	the	DET
fsr-3927	163	3	26	26	NUM
fsr-3927	163	4	-	-	PUNCT
fsr-3927	163	5	week	week	NOUN
fsr-3927	163	6	run	run	NOUN
fsr-3927	163	7	,	,	PUNCT
fsr-3927	163	8	17	17	NUM
fsr-3927	163	9	of	of	ADP
fsr-3927	163	10	the	the	DET
fsr-3927	163	11	18	18	NUM
fsr-3927	163	12	funds	fund	NOUN
fsr-3927	163	13	(	(	PUNCT
fsr-3927	163	14	94	94	NUM
fsr-3927	163	15	%	%	NOUN
fsr-3927	163	16	)	)	PUNCT
fsr-3927	163	17	have	have	VERB
fsr-3927	163	18	positivebj	positivebj	NOUN
fsr-3927	163	19	estimates	estimate	NOUN
fsr-3927	163	20	.	.	PUNCT
fsr-3927	164	1	of	of	ADP
fsr-3927	164	2	these	these	PRON
fsr-3927	164	3	,	,	PUNCT
fsr-3927	164	4	15	15	NUM
fsr-3927	164	5	are	be	AUX
fsr-3927	164	6	significant	significant	ADJ
fsr-3927	164	7	at	at	ADP
fsr-3927	164	8	the	the	DET
fsr-3927	164	9	1	1	NUM
fsr-3927	164	10	%	%	NOUN
fsr-3927	164	11	level	level	NOUN
fsr-3927	164	12	.	.	PUNCT
fsr-3927	165	1	the	the	DET
fsr-3927	165	2	average	average	ADJ
fsr-3927	165	3	change	change	NOUN
fsr-3927	165	4	in	in	ADP
fsr-3927	165	5	percentage	percentage	NOUN
fsr-3927	165	6	discount	discount	NOUN
fsr-3927	165	7	is	be	AUX
fsr-3927	165	8	7.7	7.7	NUM
fsr-3927	165	9	%	%	NOUN
fsr-3927	165	10	,	,	PUNCT
fsr-3927	165	11	and	and	CCONJ
fsr-3927	165	12	not	not	PART
fsr-3927	165	13	surprisingly	surprisingly	ADV
fsr-3927	165	14	,	,	PUNCT
fsr-3927	165	15	both	both	DET
fsr-3927	165	16	joint	joint	ADJ
fsr-3927	165	17	hypotheses	hypothesis	NOUN
fsr-3927	165	18	of	of	ADP
fsr-3927	165	19	no	no	DET
fsr-3927	165	20	change	change	NOUN
fsr-3927	165	21	in	in	ADP
fsr-3927	165	22	percentage	percentage	NOUN
fsr-3927	165	23	discount	discount	NOUN
fsr-3927	165	24	are	be	AUX
fsr-3927	165	25	strongly	strongly	ADV
fsr-3927	165	26	rejected	reject	VERB
fsr-3927	165	27	.	.	PUNCT
fsr-3927	166	1	similar	similar	ADJ
fsr-3927	166	2	results	result	NOUN
fsr-3927	166	3	occur	occur	VERB
fsr-3927	166	4	in	in	ADP
fsr-3927	166	5	the	the	DET
fsr-3927	166	6	52	52	NUM
fsr-3927	166	7	-	-	PUNCT
fsr-3927	166	8	week	week	NOUN
fsr-3927	166	9	run	run	NOUN
fsr-3927	166	10	.	.	PUNCT
fsr-3927	167	1	the	the	DET
fsr-3927	167	2	significant	significant	ADJ
fsr-3927	167	3	and	and	CCONJ
fsr-3927	167	4	persistent	persistent	ADJ
fsr-3927	167	5	increase	increase	NOUN
fsr-3927	167	6	in	in	ADP
fsr-3927	167	7	percentage	percentage	NOUN
fsr-3927	167	8	discounts	discount	NOUN
fsr-3927	167	9	is	be	AUX
fsr-3927	167	10	consistent	consistent	ADJ
fsr-3927	167	11	with	with	ADP
fsr-3927	167	12	an	an	DET
fsr-3927	167	13	economic	economic	ADJ
fsr-3927	167	14	explanation	explanation	NOUN
fsr-3927	167	15	of	of	ADP
fsr-3927	167	16	closed	close	VERB
fsr-3927	167	17	-	-	PUNCT
fsr-3927	167	18	end	end	NOUN
fsr-3927	167	19	fund	fund	NOUN
fsr-3927	167	20	discounts	discount	NOUN
fsr-3927	167	21	,	,	PUNCT
fsr-3927	167	22	and	and	CCONJ
fsr-3927	167	23	inconsistent	inconsistent	ADJ
fsr-3927	167	24	with	with	ADP
fsr-3927	167	25	a	a	DET
fsr-3927	167	26	behavioral	behavioral	ADJ
fsr-3927	167	27	266	266	NUM
fsr-3927	167	28	m.	m.	NOUN
fsr-3927	167	29	o’connor	o’connor	ADV
fsr-3927	167	30	,	,	PUNCT
fsr-3927	167	31	e.a	e.a	PROPN
fsr-3927	167	32	.	.	PROPN
fsr-3927	167	33	downe	downe	PROPN
fsr-3927	167	34	/	/	SYM
fsr-3927	167	35	financial	financial	ADJ
fsr-3927	167	36	services	service	NOUN
fsr-3927	167	37	review	review	VERB
fsr-3927	167	38	9	9	NUM
fsr-3927	167	39	(	(	PUNCT
fsr-3927	167	40	2000	2000	NUM
fsr-3927	167	41	)	)	PUNCT
fsr-3927	167	42	259–275	259–275	NUM
fsr-3927	167	43	table	table	NOUN
fsr-3927	167	44	2	2	NUM
fsr-3927	167	45	modified	modify	VERB
fsr-3927	167	46	event	event	NOUN
fsr-3927	167	47	study	study	NOUN
fsr-3927	167	48	results	result	NOUN
fsr-3927	167	49	(	(	PUNCT
fsr-3927	167	50	dependent	dependent	ADJ
fsr-3927	167	51	variable5	variable5	PRON
fsr-3927	167	52	percentage	percentage	NOUN
fsr-3927	167	53	discount	discount	NOUN
fsr-3927	167	54	)	)	PUNCT
fsr-3927	167	55	fund	fund	NOUN
fsr-3927	167	56	number	number	NOUN
fsr-3927	167	57	fund	fund	NOUN
fsr-3927	167	58	name	name	NOUN
fsr-3927	167	59	intercept	intercept	NOUN
fsr-3927	167	60	b̂j	b̂j	NOUN
fsr-3927	167	61	for	for	ADP
fsr-3927	167	62	post	post	ADJ
fsr-3927	167	63	-	-	ADJ
fsr-3927	167	64	event	event	ADJ
fsr-3927	167	65	window	window	NOUN
fsr-3927	167	66	of	of	ADP
fsr-3927	167	67	:	:	PUNCT
fsr-3927	167	68	13	13	NUM
fsr-3927	167	69	-	-	PUNCT
fsr-3927	167	70	weeks	week	NOUN
fsr-3927	167	71	26	26	NUM
fsr-3927	167	72	-	-	PUNCT
fsr-3927	167	73	weeks	week	NOUN
fsr-3927	167	74	52	52	NUM
fsr-3927	167	75	-	-	PUNCT
fsr-3927	167	76	weeks	week	NOUN
fsr-3927	167	77	panel	panel	NOUN
fsr-3927	167	78	a	a	DET
fsr-3927	167	79	:	:	PUNCT
fsr-3927	167	80	funds	fund	NOUN
fsr-3927	167	81	with	with	ADP
fsr-3927	167	82	corresponding	corresponding	ADJ
fsr-3927	167	83	webs	webs	NOUN
fsr-3927	167	84	1	1	NUM
fsr-3927	167	85	austria	austria	PROPN
fsr-3927	167	86	fund	fund	NOUN
fsr-3927	167	87	14.5	14.5	NUM
fsr-3927	167	88	%	%	NOUN
fsr-3927	167	89	*	*	PUNCT
fsr-3927	167	90	*	*	PROPN
fsr-3927	167	91	6.7	6.7	NUM
fsr-3927	167	92	%	%	NOUN
fsr-3927	167	93	*	*	PUNCT
fsr-3927	167	94	*	*	PUNCT
fsr-3927	167	95	7.2	7.2	NUM
fsr-3927	167	96	%	%	NOUN
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fsr-3927	167	98	*	*	PROPN
fsr-3927	167	99	6.8	6.8	NUM
fsr-3927	167	100	%	%	NOUN
fsr-3927	167	101	*	*	NOUN
fsr-3927	167	102	*	*	PROPN
fsr-3927	167	103	2	2	NUM
fsr-3927	167	104	canadian	canadian	ADJ
fsr-3927	167	105	general	general	ADJ
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fsr-3927	167	109	%	%	NOUN
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fsr-3927	167	111	*	*	PROPN
fsr-3927	167	112	20.3	20.3	NUM
fsr-3927	167	113	%	%	NOUN
fsr-3927	167	114	21.5	21.5	NUM
fsr-3927	167	115	%	%	NOUN
fsr-3927	167	116	*	*	NOUN
fsr-3927	167	117	25.1	25.1	NUM
fsr-3927	167	118	%	%	NOUN
fsr-3927	167	119	*	*	PUNCT
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fsr-3927	167	121	3	3	NUM
fsr-3927	167	122	emerging	emerge	VERB
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fsr-3927	167	125	26.0	26.0	NUM
fsr-3927	167	126	%	%	NOUN
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fsr-3927	167	129	22.1	22.1	NUM
fsr-3927	167	130	%	%	NOUN
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fsr-3927	167	133	22.7	22.7	NUM
fsr-3927	167	134	%	%	NOUN
fsr-3927	167	135	*	*	PUNCT
fsr-3927	167	136	*	*	PUNCT
fsr-3927	168	1	23.6	23.6	NUM
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fsr-3927	168	3	*	*	PUNCT
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fsr-3927	168	5	4	4	NUM
fsr-3927	168	6	first	first	PROPN
fsr-3927	168	7	australia	australia	PROPN
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fsr-3927	168	9	12.4	12.4	NUM
fsr-3927	168	10	%	%	NOUN
fsr-3927	168	11	*	*	PUNCT
fsr-3927	168	12	*	*	NOUN
fsr-3927	168	13	4.2	4.2	NUM
fsr-3927	168	14	%	%	NOUN
fsr-3927	168	15	*	*	PUNCT
fsr-3927	168	16	*	*	PUNCT
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fsr-3927	168	18	%	%	NOUN
fsr-3927	168	19	*	*	PUNCT
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fsr-3927	168	21	4.8	4.8	NUM
fsr-3927	168	22	%	%	NOUN
fsr-3927	168	23	*	*	PUNCT
fsr-3927	168	24	*	*	PROPN
fsr-3927	168	25	5	5	NUM
fsr-3927	168	26	france	france	PROPN
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fsr-3927	168	30	%	%	NOUN
fsr-3927	168	31	*	*	PUNCT
fsr-3927	168	32	*	*	NOUN
fsr-3927	168	33	4.2	4.2	NUM
fsr-3927	168	34	%	%	NOUN
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fsr-3927	168	37	4.7	4.7	NUM
fsr-3927	168	38	%	%	NOUN
fsr-3927	168	39	*	*	PUNCT
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fsr-3927	168	41	5.1	5.1	NUM
fsr-3927	168	42	%	%	NOUN
fsr-3927	168	43	*	*	PUNCT
fsr-3927	168	44	*	*	PROPN
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fsr-3927	168	46	germany	germany	PROPN
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fsr-3927	168	49	%	%	NOUN
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fsr-3927	168	52	3.7	3.7	NUM
fsr-3927	168	53	%	%	NOUN
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fsr-3927	168	55	*	*	NOUN
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fsr-3927	168	57	%	%	NOUN
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fsr-3927	168	59	*	*	PROPN
fsr-3927	168	60	4.0	4.0	NUM
fsr-3927	168	61	%	%	NOUN
fsr-3927	168	62	*	*	PUNCT
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fsr-3927	168	64	7	7	NUM
fsr-3927	168	65	growth	growth	NOUN
fsr-3927	168	66	fund	fund	NOUN
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fsr-3927	168	69	18.3	18.3	NUM
fsr-3927	168	70	%	%	NOUN
fsr-3927	168	71	*	*	PUNCT
fsr-3927	168	72	*	*	PUNCT
fsr-3927	168	73	20.7	20.7	NUM
fsr-3927	168	74	%	%	NOUN
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fsr-3927	168	76	%	%	NOUN
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fsr-3927	168	78	%	%	NOUN
fsr-3927	168	79	8	8	NUM
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fsr-3927	168	83	%	%	NOUN
fsr-3927	168	84	*	*	PUNCT
fsr-3927	168	85	*	*	PROPN
fsr-3927	168	86	5.3	5.3	NUM
fsr-3927	168	87	%	%	NOUN
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fsr-3927	168	90	6.3	6.3	NUM
fsr-3927	168	91	%	%	NOUN
fsr-3927	168	92	*	*	PUNCT
fsr-3927	168	93	*	*	PROPN
fsr-3927	168	94	6.7	6.7	NUM
fsr-3927	168	95	%	%	NOUN
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fsr-3927	168	97	*	*	PROPN
fsr-3927	168	98	9	9	NUM
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fsr-3927	168	102	28.1	28.1	NUM
fsr-3927	168	103	%	%	NOUN
fsr-3927	168	104	*	*	PUNCT
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fsr-3927	168	106	20.9	20.9	NUM
fsr-3927	168	107	%	%	NOUN
fsr-3927	168	108	2.8	2.8	NUM
fsr-3927	168	109	%	%	NOUN
fsr-3927	168	110	0.6	0.6	NUM
fsr-3927	168	111	%	%	NOUN
fsr-3927	168	112	10	10	NUM
fsr-3927	168	113	japan	japan	PROPN
fsr-3927	168	114	otc	otc	PROPN
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fsr-3927	168	118	%	%	NOUN
fsr-3927	168	119	*	*	PUNCT
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fsr-3927	168	121	6.2	6.2	NUM
fsr-3927	168	122	%	%	NOUN
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fsr-3927	168	125	10.7	10.7	NUM
fsr-3927	168	126	%	%	NOUN
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fsr-3927	168	129	9.3	9.3	NUM
fsr-3927	168	130	%	%	NOUN
fsr-3927	168	131	*	*	PUNCT
fsr-3927	168	132	*	*	PROPN
fsr-3927	168	133	11	11	NUM
fsr-3927	168	134	malaysia	malaysia	PROPN
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fsr-3927	168	137	%	%	NOUN
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fsr-3927	168	145	%	%	NOUN
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fsr-3927	168	148	7.4	7.4	NUM
fsr-3927	168	149	%	%	NOUN
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fsr-3927	168	162	22.7	22.7	NUM
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fsr-3927	168	178	%	%	NOUN
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fsr-3927	168	188	%	%	NOUN
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fsr-3927	168	221	%	%	NOUN
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fsr-3927	168	232	%	%	NOUN
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fsr-3927	168	244	%	%	NOUN
fsr-3927	168	245	*	*	PUNCT
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fsr-3927	168	247	17	17	NUM
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fsr-3927	168	251	7.4	7.4	NUM
fsr-3927	168	252	%	%	NOUN
fsr-3927	168	253	*	*	PUNCT
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fsr-3927	168	255	7.1	7.1	NUM
fsr-3927	168	256	%	%	NOUN
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fsr-3927	168	260	%	%	NOUN
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fsr-3927	168	263	9.2	9.2	NUM
fsr-3927	168	264	%	%	NOUN
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fsr-3927	168	267	18	18	NUM
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fsr-3927	168	272	%	%	NOUN
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fsr-3927	168	275	4.6	4.6	NUM
fsr-3927	168	276	%	%	NOUN
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fsr-3927	168	279	3.4	3.4	NUM
fsr-3927	168	280	%	%	NOUN
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fsr-3927	168	282	*	*	PROPN
fsr-3927	168	283	2.5	2.5	NUM
fsr-3927	168	284	%	%	NOUN
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fsr-3927	168	288	7.6	7.6	NUM
fsr-3927	168	289	%	%	NOUN
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fsr-3927	168	291	%	%	NOUN
fsr-3927	168	292	7.7	7.7	NUM
fsr-3927	168	293	%	%	NOUN
fsr-3927	168	294	7.6	7.6	NUM
fsr-3927	168	295	%	%	NOUN
fsr-3927	168	296	%	%	NOUN
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fsr-3927	168	299	%	%	NOUN
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fsr-3927	168	301	%	%	NOUN
fsr-3927	168	302	94	94	NUM
fsr-3927	168	303	%	%	NOUN
fsr-3927	168	304	x2	x2	PROPN
fsr-3927	168	305	statistics	statistics	PROPN
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fsr-3927	168	307	:	:	PUNCT
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fsr-3927	168	311	0	0	PUNCT
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fsr-3927	169	2	*	*	PUNCT
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fsr-3927	169	5	*	*	NOUN
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fsr-3927	169	7	348.169	348.169	NUM
fsr-3927	169	8	*	*	SYM
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fsr-3927	169	14	0	0	NUM
fsr-3927	170	1	213.281	213.281	NUM
fsr-3927	170	2	*	*	NOUN
fsr-3927	170	3	*	*	PUNCT
fsr-3927	170	4	432.698	432.698	NUM
fsr-3927	170	5	*	*	PUNCT
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fsr-3927	170	7	860.429	860.429	NUM
fsr-3927	170	8	*	*	SYM
fsr-3927	170	9	*	*	PROPN
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fsr-3927	170	11	b	b	NOUN
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fsr-3927	170	17	webs	webs	NOUN
fsr-3927	170	18	1	1	NUM
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fsr-3927	170	22	%	%	NOUN
fsr-3927	170	23	*	*	PUNCT
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fsr-3927	170	26	%	%	NOUN
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fsr-3927	170	30	%	%	NOUN
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fsr-3927	170	34	%	%	NOUN
fsr-3927	170	35	*	*	PUNCT
fsr-3927	170	36	*	*	PROPN
fsr-3927	170	37	2	2	NUM
fsr-3927	170	38	brazil	brazil	PROPN
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fsr-3927	170	40	20.7	20.7	NUM
fsr-3927	170	41	%	%	NOUN
fsr-3927	170	42	9.1	9.1	NUM
fsr-3927	170	43	%	%	NOUN
fsr-3927	170	44	*	*	PUNCT
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fsr-3927	170	47	%	%	NOUN
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fsr-3927	170	51	%	%	NOUN
fsr-3927	170	52	*	*	PUNCT
fsr-3927	170	53	*	*	PROPN
fsr-3927	170	54	3	3	NUM
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fsr-3927	170	59	%	%	NOUN
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fsr-3927	170	62	13.0	13.0	NUM
fsr-3927	170	63	%	%	NOUN
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fsr-3927	170	66	18.1	18.1	NUM
fsr-3927	170	67	%	%	NOUN
fsr-3927	170	68	*	*	PUNCT
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fsr-3927	170	71	%	%	NOUN
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fsr-3927	170	73	*	*	PROPN
fsr-3927	170	74	4	4	NUM
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fsr-3927	170	78	%	%	NOUN
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fsr-3927	170	82	%	%	NOUN
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fsr-3927	170	84	%	%	NOUN
fsr-3927	170	85	0.5	0.5	NUM
fsr-3927	170	86	%	%	NOUN
fsr-3927	170	87	5	5	NUM
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fsr-3927	170	91	%	%	NOUN
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fsr-3927	170	95	%	%	NOUN
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fsr-3927	170	99	%	%	NOUN
fsr-3927	170	100	*	*	PUNCT
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fsr-3927	170	103	%	%	NOUN
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fsr-3927	170	110	22.7	22.7	NUM
fsr-3927	170	111	%	%	NOUN
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fsr-3927	170	114	%	%	NOUN
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fsr-3927	170	118	%	%	NOUN
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fsr-3927	170	122	%	%	NOUN
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fsr-3927	170	129	18.2	18.2	NUM
fsr-3927	170	130	%	%	NOUN
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fsr-3927	170	134	%	%	NOUN
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fsr-3927	170	138	%	%	NOUN
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fsr-3927	170	142	%	%	NOUN
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fsr-3927	170	145	8	8	NUM
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fsr-3927	170	149	2.3	2.3	NUM
fsr-3927	170	150	%	%	NOUN
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fsr-3927	170	153	9.4	9.4	NUM
fsr-3927	170	154	%	%	NOUN
fsr-3927	170	155	*	*	PUNCT
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fsr-3927	170	157	12.0	12.0	NUM
fsr-3927	170	158	%	%	NOUN
fsr-3927	170	159	*	*	PUNCT
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fsr-3927	170	161	14.3	14.3	NUM
fsr-3927	170	162	%	%	NOUN
fsr-3927	170	163	*	*	PUNCT
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fsr-3927	170	165	9	9	NUM
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fsr-3927	170	169	%	%	NOUN
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fsr-3927	170	173	%	%	NOUN
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fsr-3927	170	177	%	%	NOUN
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fsr-3927	170	181	%	%	NOUN
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fsr-3927	170	184	10	10	NUM
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fsr-3927	170	189	%	%	NOUN
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fsr-3927	170	191	*	*	PROPN
fsr-3927	170	192	24.7	24.7	NUM
fsr-3927	170	193	%	%	NOUN
fsr-3927	170	194	20.3	20.3	NUM
fsr-3927	170	195	%	%	NOUN
fsr-3927	170	196	21.5	21.5	NUM
fsr-3927	170	197	%	%	NOUN
fsr-3927	170	198	11	11	NUM
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fsr-3927	170	203	%	%	NOUN
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fsr-3927	170	207	%	%	NOUN
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fsr-3927	170	209	%	%	NOUN
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fsr-3927	170	212	3.1	3.1	NUM
fsr-3927	170	213	%	%	NOUN
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fsr-3927	170	223	%	%	NOUN
fsr-3927	170	224	8.4	8.4	NUM
fsr-3927	170	225	%	%	NOUN
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fsr-3927	170	229	%	%	NOUN
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fsr-3927	170	233	%	%	NOUN
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fsr-3927	170	242	%	%	NOUN
fsr-3927	170	243	1.1	1.1	NUM
fsr-3927	170	244	%	%	NOUN
fsr-3927	170	245	2.1	2.1	NUM
fsr-3927	170	246	%	%	NOUN
fsr-3927	170	247	1.9	1.9	NUM
fsr-3927	170	248	%	%	NOUN
fsr-3927	170	249	14	14	NUM
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fsr-3927	170	254	%	%	NOUN
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fsr-3927	170	257	21.6	21.6	NUM
fsr-3927	170	258	%	%	NOUN
fsr-3927	170	259	22.1	22.1	NUM
fsr-3927	170	260	%	%	NOUN
fsr-3927	170	261	24.4	24.4	NUM
fsr-3927	170	262	%	%	NOUN
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fsr-3927	170	265	15	15	NUM
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fsr-3927	170	268	28.7	28.7	NUM
fsr-3927	170	269	%	%	NOUN
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fsr-3927	170	272	0.3	0.3	NUM
fsr-3927	170	273	%	%	NOUN
fsr-3927	170	274	20.2	20.2	NUM
fsr-3927	170	275	%	%	NOUN
fsr-3927	170	276	21.1	21.1	NUM
fsr-3927	170	277	%	%	NOUN
fsr-3927	170	278	16	16	NUM
fsr-3927	170	279	korean	korean	ADJ
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fsr-3927	170	282	3.1	3.1	NUM
fsr-3927	170	283	%	%	NOUN
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fsr-3927	170	285	*	*	PROPN
fsr-3927	170	286	3.1	3.1	NUM
fsr-3927	170	287	%	%	NOUN
fsr-3927	170	288	2.4	2.4	NUM
fsr-3927	170	289	%	%	NOUN
fsr-3927	170	290	0.0	0.0	NUM
fsr-3927	170	291	%	%	NOUN
fsr-3927	170	292	17	17	NUM
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fsr-3927	170	297	5.4	5.4	NUM
fsr-3927	170	298	%	%	NOUN
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fsr-3927	170	300	*	*	PROPN
fsr-3927	171	1	28.9	28.9	NUM
fsr-3927	171	2	%	%	NOUN
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fsr-3927	171	4	*	*	PUNCT
fsr-3927	171	5	25.8	25.8	NUM
fsr-3927	171	6	%	%	NOUN
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fsr-3927	171	9	29.5	29.5	NUM
fsr-3927	171	10	%	%	NOUN
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fsr-3927	171	18	18.8	18.8	NUM
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fsr-3927	171	25	%	%	NOUN
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fsr-3927	171	27	%	%	NOUN
fsr-3927	171	28	19	19	NUM
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fsr-3927	171	32	18.0	18.0	NUM
fsr-3927	171	33	%	%	NOUN
fsr-3927	171	34	*	*	PUNCT
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fsr-3927	171	36	211.3	211.3	NUM
fsr-3927	171	37	%	%	NOUN
fsr-3927	171	38	*	*	PUNCT
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fsr-3927	171	40	212.2	212.2	NUM
fsr-3927	171	41	%	%	NOUN
fsr-3927	171	42	*	*	PUNCT
fsr-3927	171	43	*	*	PUNCT
fsr-3927	171	44	215.3	215.3	NUM
fsr-3927	171	45	%	%	NOUN
fsr-3927	171	46	*	*	PUNCT
fsr-3927	171	47	*	*	PROPN
fsr-3927	171	48	20	20	NUM
fsr-3927	171	49	roc	roc	PROPN
fsr-3927	171	50	taiwan	taiwan	PROPN
fsr-3927	171	51	fund	fund	NOUN
fsr-3927	171	52	20.9	20.9	NUM
fsr-3927	171	53	%	%	NOUN
fsr-3927	171	54	25.1	25.1	NUM
fsr-3927	171	55	%	%	NOUN
fsr-3927	171	56	*	*	NOUN
fsr-3927	171	57	24.4	24.4	NUM
fsr-3927	171	58	%	%	NOUN
fsr-3927	171	59	*	*	NOUN
fsr-3927	171	60	4.0	4.0	NUM
fsr-3927	171	61	%	%	NOUN
fsr-3927	171	62	*	*	PUNCT
fsr-3927	171	63	*	*	PROPN
fsr-3927	171	64	21	21	NUM
fsr-3927	171	65	taiwan	taiwan	PROPN
fsr-3927	171	66	fund	fund	NOUN
fsr-3927	171	67	24.5	24.5	NUM
fsr-3927	171	68	%	%	NOUN
fsr-3927	171	69	*	*	PUNCT
fsr-3927	171	70	*	*	PROPN
fsr-3927	171	71	27.6	27.6	NUM
fsr-3927	171	72	%	%	NOUN
fsr-3927	171	73	*	*	NOUN
fsr-3927	171	74	23.6	23.6	NUM
fsr-3927	171	75	%	%	NOUN
fsr-3927	171	76	6.4	6.4	NUM
fsr-3927	171	77	%	%	NOUN
fsr-3927	171	78	*	*	PUNCT
fsr-3927	171	79	*	*	PUNCT
fsr-3927	171	80	(	(	PUNCT
fsr-3927	171	81	continued	continue	VERB
fsr-3927	171	82	on	on	ADP
fsr-3927	171	83	next	next	ADJ
fsr-3927	171	84	page	page	NOUN
fsr-3927	171	85	)	)	PUNCT
fsr-3927	171	86	267	267	NUM
fsr-3927	171	87	m.	m.	NOUN
fsr-3927	171	88	o’connor	o’connor	ADV
fsr-3927	171	89	,	,	PUNCT
fsr-3927	171	90	e.a	e.a	PROPN
fsr-3927	171	91	.	.	PROPN
fsr-3927	171	92	downe	downe	PROPN
fsr-3927	171	93	/	/	SYM
fsr-3927	171	94	financial	financial	ADJ
fsr-3927	171	95	services	service	NOUN
fsr-3927	171	96	review	review	VERB
fsr-3927	171	97	9	9	NUM
fsr-3927	171	98	(	(	PUNCT
fsr-3927	171	99	2000	2000	NUM
fsr-3927	171	100	)	)	PUNCT
fsr-3927	172	1	259–275	259–275	NUM
fsr-3927	172	2	model	model	NOUN
fsr-3927	172	3	,	,	PUNCT
fsr-3927	172	4	which	which	PRON
fsr-3927	172	5	suggests	suggest	VERB
fsr-3927	172	6	either	either	CCONJ
fsr-3927	172	7	no	no	DET
fsr-3927	172	8	reaction	reaction	NOUN
fsr-3927	172	9	or	or	CCONJ
fsr-3927	172	10	an	an	DET
fsr-3927	172	11	overreaction	overreaction	NOUN
fsr-3927	172	12	to	to	ADP
fsr-3927	172	13	an	an	DET
fsr-3927	172	14	integrating	integrate	VERB
fsr-3927	172	15	event	event	NOUN
fsr-3927	172	16	.	.	PUNCT
fsr-3927	173	1	from	from	ADP
fsr-3927	173	2	the	the	DET
fsr-3927	173	3	economic	economic	ADJ
fsr-3927	173	4	perspective	perspective	NOUN
fsr-3927	173	5	,	,	PUNCT
fsr-3927	173	6	the	the	DET
fsr-3927	173	7	increase	increase	NOUN
fsr-3927	173	8	could	could	AUX
fsr-3927	173	9	result	result	VERB
fsr-3927	173	10	from	from	ADP
fsr-3927	173	11	either	either	CCONJ
fsr-3927	173	12	a	a	DET
fsr-3927	173	13	reduction	reduction	NOUN
fsr-3927	173	14	in	in	ADP
fsr-3927	173	15	the	the	DET
fsr-3927	173	16	market	market	NOUN
fsr-3927	173	17	segmentation	segmentation	NOUN
fsr-3927	173	18	premium	premium	NOUN
fsr-3927	173	19	or	or	CCONJ
fsr-3927	173	20	a	a	DET
fsr-3927	173	21	migration	migration	NOUN
fsr-3927	173	22	to	to	ADP
fsr-3927	173	23	index	index	NOUN
fsr-3927	173	24	funds	fund	NOUN
fsr-3927	173	25	with	with	ADP
fsr-3927	173	26	lower	low	ADJ
fsr-3927	173	27	fees	fee	NOUN
fsr-3927	173	28	.	.	PUNCT
fsr-3927	174	1	however	however	ADV
fsr-3927	174	2	,	,	PUNCT
fsr-3927	174	3	this	this	DET
fsr-3927	174	4	test	test	NOUN
fsr-3927	174	5	does	do	AUX
fsr-3927	174	6	not	not	PART
fsr-3927	174	7	differentiate	differentiate	VERB
fsr-3927	174	8	between	between	ADP
fsr-3927	174	9	the	the	DET
fsr-3927	174	10	two	two	NUM
fsr-3927	174	11	explanations	explanation	NOUN
fsr-3927	174	12	.	.	PUNCT
fsr-3927	175	1	one	one	NUM
fsr-3927	175	2	interesting	interesting	ADJ
fsr-3927	175	3	observation	observation	NOUN
fsr-3927	175	4	from	from	ADP
fsr-3927	175	5	panel	panel	NOUN
fsr-3927	175	6	a	a	PRON
fsr-3927	175	7	is	be	AUX
fsr-3927	175	8	the	the	DET
fsr-3927	175	9	relative	relative	ADJ
fsr-3927	175	10	magnitudes	magnitude	NOUN
fsr-3927	175	11	of	of	ADP
fsr-3927	175	12	thebj	thebj	NOUN
fsr-3927	175	13	estimates	estimate	NOUN
fsr-3927	175	14	for	for	ADP
fsr-3927	175	15	the	the	DET
fsr-3927	175	16	three	three	NUM
fsr-3927	175	17	mexican	mexican	ADJ
fsr-3927	175	18	funds	fund	NOUN
fsr-3927	175	19	.	.	PUNCT
fsr-3927	176	1	for	for	ADP
fsr-3927	176	2	example	example	NOUN
fsr-3927	176	3	,	,	PUNCT
fsr-3927	176	4	in	in	ADP
fsr-3927	176	5	the	the	DET
fsr-3927	176	6	13	13	NUM
fsr-3927	176	7	-	-	PUNCT
fsr-3927	176	8	week	week	NOUN
fsr-3927	176	9	window	window	NOUN
fsr-3927	176	10	,	,	PUNCT
fsr-3927	176	11	thebj	thebj	NOUN
fsr-3927	176	12	estimates	estimate	NOUN
fsr-3927	176	13	for	for	ADP
fsr-3927	176	14	the	the	DET
fsr-3927	176	15	emerging	emerge	VERB
fsr-3927	176	16	mexico	mexico	PROPN
fsr-3927	176	17	fund	fund	NOUN
fsr-3927	176	18	,	,	PUNCT
fsr-3927	176	19	the	the	DET
fsr-3927	176	20	mexico	mexico	PROPN
fsr-3927	176	21	equity	equity	PROPN
fsr-3927	176	22	&	&	CCONJ
fsr-3927	176	23	income	income	PROPN
fsr-3927	176	24	fund	fund	PROPN
fsr-3927	176	25	,	,	PUNCT
fsr-3927	176	26	and	and	CCONJ
fsr-3927	176	27	the	the	DET
fsr-3927	176	28	mexico	mexico	PROPN
fsr-3927	176	29	fund	fund	NOUN
fsr-3927	176	30	are	be	AUX
fsr-3927	176	31	22.1	22.1	NUM
fsr-3927	176	32	%	%	NOUN
fsr-3927	176	33	,	,	PUNCT
fsr-3927	176	34	22.7	22.7	NUM
fsr-3927	176	35	%	%	NOUN
fsr-3927	176	36	,	,	PUNCT
fsr-3927	176	37	and	and	CCONJ
fsr-3927	176	38	13.7	13.7	NUM
fsr-3927	176	39	%	%	NOUN
fsr-3927	176	40	,	,	PUNCT
fsr-3927	176	41	respectively	respectively	ADV
fsr-3927	176	42	.	.	PUNCT
fsr-3927	177	1	these	these	DET
fsr-3927	177	2	estimates	estimate	NOUN
fsr-3927	177	3	are	be	AUX
fsr-3927	177	4	much	much	ADV
fsr-3927	177	5	larger	large	ADJ
fsr-3927	177	6	in	in	ADP
fsr-3927	177	7	magnitude	magnitude	NOUN
fsr-3927	177	8	than	than	ADP
fsr-3927	177	9	those	those	PRON
fsr-3927	177	10	of	of	ADP
fsr-3927	177	11	any	any	DET
fsr-3927	177	12	other	other	ADJ
fsr-3927	177	13	funds	fund	NOUN
fsr-3927	177	14	.	.	PUNCT
fsr-3927	178	1	this	this	PRON
fsr-3927	178	2	raises	raise	VERB
fsr-3927	178	3	the	the	DET
fsr-3927	178	4	possibility	possibility	NOUN
fsr-3927	178	5	that	that	SCONJ
fsr-3927	178	6	our	our	PRON
fsr-3927	178	7	results	result	NOUN
fsr-3927	178	8	are	be	AUX
fsr-3927	178	9	overly	overly	ADV
fsr-3927	178	10	sensitive	sensitive	ADJ
fsr-3927	178	11	to	to	ADP
fsr-3927	178	12	changes	change	NOUN
fsr-3927	178	13	in	in	ADP
fsr-3927	178	14	mexican	mexican	ADJ
fsr-3927	178	15	fund	fund	NOUN
fsr-3927	178	16	discounts	discount	NOUN
fsr-3927	178	17	.	.	PUNCT
fsr-3927	179	1	to	to	PART
fsr-3927	179	2	test	test	VERB
fsr-3927	179	3	this	this	DET
fsr-3927	179	4	possibility	possibility	NOUN
fsr-3927	179	5	,	,	PUNCT
fsr-3927	179	6	we	we	PRON
fsr-3927	179	7	re	re	VERB
fsr-3927	179	8	-	-	VERB
fsr-3927	179	9	run	run	VERB
fsr-3927	179	10	the	the	DET
fsr-3927	179	11	model	model	NOUN
fsr-3927	179	12	dropping	drop	VERB
fsr-3927	179	13	the	the	DET
fsr-3927	179	14	three	three	NUM
fsr-3927	179	15	mexican	mexican	ADJ
fsr-3927	179	16	funds	fund	NOUN
fsr-3927	179	17	.	.	PUNCT
fsr-3927	180	1	although	although	SCONJ
fsr-3927	180	2	not	not	PART
fsr-3927	180	3	shown	show	VERB
fsr-3927	180	4	,	,	PUNCT
fsr-3927	180	5	the	the	DET
fsr-3927	180	6	hypothesis	hypothesis	NOUN
fsr-3927	180	7	that	that	PRON
fsr-3927	180	8	the	the	DET
fsr-3927	180	9	individualbj	individualbj	PROPN
fsr-3927	180	10	estimates	estimate	NOUN
fsr-3927	180	11	are	be	AUX
fsr-3927	180	12	jointly	jointly	ADV
fsr-3927	180	13	zero	zero	NUM
fsr-3927	180	14	and	and	CCONJ
fsr-3927	180	15	the	the	DET
fsr-3927	180	16	hypothesis	hypothesis	NOUN
fsr-3927	180	17	that	that	PRON
fsr-3927	180	18	the	the	DET
fsr-3927	180	19	sum	sum	NOUN
fsr-3927	180	20	of	of	ADP
fsr-3927	180	21	thebj	thebj	NOUN
fsr-3927	180	22	estimates	estimate	NOUN
fsr-3927	180	23	equals	equal	VERB
fsr-3927	180	24	zero	zero	NUM
fsr-3927	180	25	again	again	ADV
fsr-3927	180	26	reject	reject	VERB
fsr-3927	180	27	at	at	ADP
fsr-3927	180	28	the	the	DET
fsr-3927	180	29	1	1	NUM
fsr-3927	180	30	%	%	NOUN
fsr-3927	180	31	level	level	NOUN
fsr-3927	180	32	.	.	PUNCT
fsr-3927	181	1	these	these	DET
fsr-3927	181	2	results	result	NOUN
fsr-3927	181	3	hold	hold	VERB
fsr-3927	181	4	across	across	ADP
fsr-3927	181	5	all	all	DET
fsr-3927	181	6	three	three	NUM
fsr-3927	181	7	post	post	ADJ
fsr-3927	181	8	-	-	ADJ
fsr-3927	181	9	event	event	ADJ
fsr-3927	181	10	windows	window	NOUN
fsr-3927	181	11	.	.	PUNCT
fsr-3927	182	1	hence	hence	ADV
fsr-3927	182	2	,	,	PUNCT
fsr-3927	182	3	we	we	PRON
fsr-3927	182	4	feel	feel	VERB
fsr-3927	182	5	our	our	PRON
fsr-3927	182	6	results	result	NOUN
fsr-3927	182	7	are	be	AUX
fsr-3927	182	8	not	not	PART
fsr-3927	182	9	unduly	unduly	ADV
fsr-3927	182	10	influenced	influence	VERB
fsr-3927	182	11	by	by	ADP
fsr-3927	182	12	the	the	DET
fsr-3927	182	13	mexican	mexican	ADJ
fsr-3927	182	14	funds	fund	NOUN
fsr-3927	182	15	.	.	PUNCT
fsr-3927	183	1	table	table	NOUN
fsr-3927	183	2	2	2	NUM
fsr-3927	183	3	—	—	PUNCT
fsr-3927	183	4	panel	panel	NOUN
fsr-3927	183	5	b	b	PROPN
fsr-3927	183	6	examines	examine	VERB
fsr-3927	183	7	the	the	DET
fsr-3927	183	8	effect	effect	NOUN
fsr-3927	183	9	of	of	ADP
fsr-3927	183	10	webs	webs	NOUN
fsr-3927	183	11	trading	trading	NOUN
fsr-3927	183	12	on	on	ADP
fsr-3927	183	13	funds	fund	NOUN
fsr-3927	183	14	with	with	ADP
fsr-3927	183	15	no	no	DET
fsr-3927	183	16	corresponding	correspond	VERB
fsr-3927	183	17	webs	webs	NOUN
fsr-3927	183	18	index	index	NOUN
fsr-3927	183	19	.	.	PUNCT
fsr-3927	184	1	for	for	ADP
fsr-3927	184	2	the	the	DET
fsr-3927	184	3	13	13	NUM
fsr-3927	184	4	-	-	PUNCT
fsr-3927	184	5	week	week	NOUN
fsr-3927	184	6	post	post	ADJ
fsr-3927	184	7	-	-	ADJ
fsr-3927	184	8	event	event	ADJ
fsr-3927	184	9	window	window	NOUN
fsr-3927	184	10	,	,	PUNCT
fsr-3927	184	11	only	only	ADV
fsr-3927	184	12	9	9	NUM
fsr-3927	184	13	of	of	ADP
fsr-3927	184	14	the	the	DET
fsr-3927	184	15	25	25	NUM
fsr-3927	184	16	funds	fund	NOUN
fsr-3927	184	17	(	(	PUNCT
fsr-3927	184	18	36	36	NUM
fsr-3927	184	19	%	%	NOUN
fsr-3927	184	20	)	)	PUNCT
fsr-3927	184	21	show	show	VERB
fsr-3927	184	22	a	a	DET
fsr-3927	184	23	significantly	significantly	ADV
fsr-3927	184	24	positive	positive	ADJ
fsr-3927	184	25	(	(	PUNCT
fsr-3927	184	26	1	1	NUM
fsr-3927	184	27	%	%	NOUN
fsr-3927	184	28	or	or	CCONJ
fsr-3927	184	29	5	5	NUM
fsr-3927	184	30	%	%	NOUN
fsr-3927	184	31	level	level	NOUN
fsr-3927	184	32	)	)	PUNCT
fsr-3927	184	33	increase	increase	NOUN
fsr-3927	184	34	in	in	ADP
fsr-3927	184	35	mean	mean	ADJ
fsr-3927	184	36	percentage	percentage	NOUN
fsr-3927	184	37	discount	discount	NOUN
fsr-3927	184	38	.	.	PUNCT
fsr-3927	185	1	hence	hence	ADV
fsr-3927	185	2	,	,	PUNCT
fsr-3927	185	3	over	over	ADP
fsr-3927	185	4	the	the	DET
fsr-3927	185	5	short	short	ADJ
fsr-3927	185	6	-	-	PUNCT
fsr-3927	185	7	term	term	NOUN
fsr-3927	185	8	,	,	PUNCT
fsr-3927	185	9	a	a	DET
fsr-3927	185	10	lower	low	ADJ
fsr-3927	185	11	proportion	proportion	NOUN
fsr-3927	185	12	of	of	ADP
fsr-3927	185	13	these	these	DET
fsr-3927	185	14	funds	fund	NOUN
fsr-3927	185	15	experience	experience	VERB
fsr-3927	185	16	a	a	DET
fsr-3927	185	17	webs	webs	NOUN
fsr-3927	185	18	induced	induce	VERB
fsr-3927	185	19	impact	impact	NOUN
fsr-3927	185	20	.	.	PUNCT
fsr-3927	186	1	also	also	ADV
fsr-3927	186	2	,	,	PUNCT
fsr-3927	186	3	the	the	DET
fsr-3927	186	4	average	average	ADJ
fsr-3927	186	5	change	change	NOUN
fsr-3927	186	6	in	in	ADP
fsr-3927	186	7	percentage	percentage	NOUN
fsr-3927	186	8	discount	discount	NOUN
fsr-3927	186	9	is	be	AUX
fsr-3927	186	10	2	2	NUM
fsr-3927	186	11	%	%	NOUN
fsr-3927	186	12	,	,	PUNCT
fsr-3927	186	13	well	well	ADV
fsr-3927	186	14	below	below	ADP
fsr-3927	186	15	the	the	DET
fsr-3927	186	16	6.8	6.8	NUM
fsr-3927	186	17	%	%	NOUN
fsr-3927	186	18	change	change	NOUN
fsr-3927	186	19	experienced	experience	VERB
fsr-3927	186	20	by	by	ADP
fsr-3927	186	21	funds	fund	NOUN
fsr-3927	186	22	with	with	ADP
fsr-3927	186	23	a	a	DET
fsr-3927	186	24	corresponding	corresponding	ADJ
fsr-3927	186	25	webs	webs	NOUN
fsr-3927	186	26	index	index	NOUN
fsr-3927	186	27	.	.	PUNCT
fsr-3927	187	1	finally	finally	ADV
fsr-3927	187	2	,	,	PUNCT
fsr-3927	187	3	the	the	DET
fsr-3927	187	4	hypothesis	hypothesis	NOUN
fsr-3927	187	5	that	that	PRON
fsr-3927	187	6	the	the	DET
fsr-3927	187	7	sum	sum	NOUN
fsr-3927	187	8	of	of	ADP
fsr-3927	187	9	thebj	thebj	NOUN
fsr-3927	187	10	parameters	parameter	NOUN
fsr-3927	187	11	equals	equal	VERB
fsr-3927	187	12	zero	zero	NUM
fsr-3927	187	13	can	can	AUX
fsr-3927	187	14	not	not	PART
fsr-3927	187	15	be	be	AUX
fsr-3927	187	16	rejected	reject	VERB
fsr-3927	187	17	at	at	ADP
fsr-3927	187	18	the	the	DET
fsr-3927	187	19	5	5	NUM
fsr-3927	187	20	%	%	NOUN
fsr-3927	187	21	level	level	NOUN
fsr-3927	187	22	.	.	PUNCT
fsr-3927	188	1	for	for	ADP
fsr-3927	188	2	the	the	DET
fsr-3927	188	3	26	26	NUM
fsr-3927	188	4	-	-	PUNCT
fsr-3927	188	5	week	week	NOUN
fsr-3927	188	6	period	period	NOUN
fsr-3927	188	7	,	,	PUNCT
fsr-3927	188	8	11	11	NUM
fsr-3927	188	9	out	out	ADP
fsr-3927	188	10	of	of	ADP
fsr-3927	188	11	25	25	NUM
fsr-3927	188	12	funds	fund	NOUN
fsr-3927	188	13	(	(	PUNCT
fsr-3927	188	14	44	44	NUM
fsr-3927	188	15	%	%	NOUN
fsr-3927	188	16	)	)	PUNCT
fsr-3927	188	17	experience	experience	NOUN
fsr-3927	188	18	a	a	DET
fsr-3927	188	19	significantly	significantly	ADV
fsr-3927	188	20	positive	positive	ADJ
fsr-3927	188	21	increase	increase	NOUN
fsr-3927	188	22	in	in	ADP
fsr-3927	188	23	mean	mean	ADJ
fsr-3927	188	24	percentage	percentage	NOUN
fsr-3927	188	25	discount	discount	NOUN
fsr-3927	188	26	evaluated	evaluate	VERB
fsr-3927	188	27	at	at	ADP
fsr-3927	188	28	the	the	DET
fsr-3927	188	29	5	5	NUM
fsr-3927	188	30	%	%	NOUN
fsr-3927	188	31	level	level	NOUN
fsr-3927	188	32	.	.	PUNCT
fsr-3927	189	1	the	the	DET
fsr-3927	189	2	average	average	ADJ
fsr-3927	189	3	change	change	NOUN
fsr-3927	189	4	in	in	ADP
fsr-3927	189	5	percentage	percentage	NOUN
fsr-3927	189	6	discount	discount	NOUN
fsr-3927	189	7	is	be	AUX
fsr-3927	189	8	3.6	3.6	NUM
fsr-3927	189	9	%	%	NOUN
fsr-3927	189	10	,	,	PUNCT
fsr-3927	189	11	and	and	CCONJ
fsr-3927	189	12	the	the	DET
fsr-3927	189	13	test	test	NOUN
fsr-3927	189	14	table	table	NOUN
fsr-3927	189	15	2(continued	2(continued	NUM
fsr-3927	189	16	)	)	PUNCT
fsr-3927	189	17	fund	fund	NOUN
fsr-3927	189	18	number	number	NOUN
fsr-3927	189	19	fund	fund	NOUN
fsr-3927	189	20	name	name	NOUN
fsr-3927	189	21	intercept	intercept	NOUN
fsr-3927	189	22	b̂j	b̂j	NOUN
fsr-3927	189	23	for	for	ADP
fsr-3927	189	24	post	post	ADJ
fsr-3927	189	25	-	-	ADJ
fsr-3927	189	26	event	event	ADJ
fsr-3927	189	27	window	window	NOUN
fsr-3927	189	28	of	of	ADP
fsr-3927	189	29	:	:	PUNCT
fsr-3927	189	30	13	13	NUM
fsr-3927	189	31	-	-	PUNCT
fsr-3927	189	32	weeks	week	NOUN
fsr-3927	189	33	26	26	NUM
fsr-3927	189	34	-	-	PUNCT
fsr-3927	189	35	weeks	week	NOUN
fsr-3927	189	36	52	52	NUM
fsr-3927	189	37	-	-	PUNCT
fsr-3927	189	38	weeks	week	NOUN
fsr-3927	189	39	panel	panel	NOUN
fsr-3927	189	40	b	b	NOUN
fsr-3927	189	41	:	:	PUNCT
fsr-3927	189	42	funds	fund	NOUN
fsr-3927	189	43	with	with	ADP
fsr-3927	189	44	no	no	DET
fsr-3927	189	45	corresponding	correspond	VERB
fsr-3927	189	46	webs	webs	NOUN
fsr-3927	189	47	22	22	NUM
fsr-3927	189	48	templeton	templeton	PROPN
fsr-3927	189	49	china	china	PROPN
fsr-3927	189	50	world	world	PROPN
fsr-3927	189	51	fund	fund	PROPN
fsr-3927	189	52	2.9	2.9	NUM
fsr-3927	189	53	%	%	NOUN
fsr-3927	189	54	*	*	PUNCT
fsr-3927	189	55	*	*	PUNCT
fsr-3927	189	56	11.4	11.4	NUM
fsr-3927	189	57	%	%	NOUN
fsr-3927	189	58	*	*	PUNCT
fsr-3927	189	59	*	*	PROPN
fsr-3927	189	60	13.0	13.0	NUM
fsr-3927	189	61	%	%	NOUN
fsr-3927	189	62	*	*	PUNCT
fsr-3927	189	63	*	*	PROPN
fsr-3927	189	64	13.4	13.4	NUM
fsr-3927	189	65	%	%	NOUN
fsr-3927	189	66	*	*	PUNCT
fsr-3927	189	67	*	*	PROPN
fsr-3927	189	68	23	23	NUM
fsr-3927	189	69	thai	thai	ADJ
fsr-3927	189	70	capital	capital	PROPN
fsr-3927	189	71	fund	fund	PROPN
fsr-3927	189	72	10.2	10.2	NUM
fsr-3927	189	73	%	%	NOUN
fsr-3927	189	74	*	*	PUNCT
fsr-3927	189	75	*	*	PROPN
fsr-3927	189	76	23.4	23.4	NUM
fsr-3927	189	77	%	%	NOUN
fsr-3927	189	78	*	*	PUNCT
fsr-3927	189	79	*	*	PROPN
fsr-3927	190	1	24.3	24.3	NUM
fsr-3927	190	2	%	%	NOUN
fsr-3927	190	3	*	*	PUNCT
fsr-3927	190	4	*	*	X
fsr-3927	190	5	210.5	210.5	NUM
fsr-3927	190	6	%	%	NOUN
fsr-3927	190	7	*	*	PUNCT
fsr-3927	190	8	*	*	PROPN
fsr-3927	190	9	24	24	NUM
fsr-3927	190	10	thai	thai	PROPN
fsr-3927	190	11	fund	fund	NOUN
fsr-3927	190	12	10.7	10.7	NUM
fsr-3927	190	13	%	%	NOUN
fsr-3927	190	14	*	*	PUNCT
fsr-3927	190	15	*	*	PROPN
fsr-3927	190	16	23.5	23.5	NUM
fsr-3927	190	17	%	%	NOUN
fsr-3927	190	18	*	*	PUNCT
fsr-3927	190	19	*	*	PROPN
fsr-3927	190	20	25.8	25.8	NUM
fsr-3927	190	21	%	%	NOUN
fsr-3927	190	22	*	*	PUNCT
fsr-3927	190	23	*	*	PUNCT
fsr-3927	190	24	213.0	213.0	NUM
fsr-3927	190	25	%	%	NOUN
fsr-3927	190	26	*	*	PUNCT
fsr-3927	190	27	*	*	PUNCT
fsr-3927	190	28	25	25	NUM
fsr-3927	190	29	turkish	turkish	ADJ
fsr-3927	190	30	investment	investment	NOUN
fsr-3927	190	31	fund	fund	NOUN
fsr-3927	190	32	222.7	222.7	NUM
fsr-3927	190	33	%	%	NOUN
fsr-3927	190	34	*	*	PUNCT
fsr-3927	190	35	*	*	PROPN
fsr-3927	190	36	13.6	13.6	NUM
fsr-3927	190	37	%	%	NOUN
fsr-3927	190	38	*	*	NOUN
fsr-3927	190	39	17.7	17.7	NUM
fsr-3927	190	40	%	%	NOUN
fsr-3927	190	41	*	*	PUNCT
fsr-3927	190	42	*	*	PROPN
fsr-3927	190	43	22.6	22.6	NUM
fsr-3927	190	44	%	%	NOUN
fsr-3927	190	45	*	*	PUNCT
fsr-3927	190	46	*	*	PUNCT
fsr-3927	190	47	average	average	ADJ
fsr-3927	190	48	2.6	2.6	NUM
fsr-3927	190	49	%	%	NOUN
fsr-3927	190	50	2.0	2.0	NUM
fsr-3927	190	51	%	%	NOUN
fsr-3927	190	52	3.6	3.6	NUM
fsr-3927	190	53	%	%	NOUN
fsr-3927	190	54	4.1	4.1	NUM
fsr-3927	190	55	%	%	NOUN
fsr-3927	190	56	%	%	NOUN
fsr-3927	190	57	positive	positive	ADJ
fsr-3927	190	58	60	60	NUM
fsr-3927	190	59	%	%	NOUN
fsr-3927	190	60	60	60	NUM
fsr-3927	190	61	%	%	NOUN
fsr-3927	190	62	64	64	NUM
fsr-3927	190	63	%	%	NOUN
fsr-3927	190	64	x2	x2	PROPN
fsr-3927	190	65	statistics	statistics	PROPN
fsr-3927	190	66	h0	h0	PROPN
fsr-3927	190	67	:	:	PUNCT
fsr-3927	190	68	sum	sum	NOUN
fsr-3927	190	69	of	of	ADP
fsr-3927	190	70	parameters5	parameters5	NOUN
fsr-3927	190	71	0	0	NUM
fsr-3927	190	72	2.72	2.72	NUM
fsr-3927	190	73	16.546	16.546	NUM
fsr-3927	190	74	*	*	PUNCT
fsr-3927	190	75	*	*	NOUN
fsr-3927	190	76	41.663	41.663	NUM
fsr-3927	190	77	*	*	SYM
fsr-3927	190	78	*	*	PUNCT
fsr-3927	190	79	h0	h0	PROPN
fsr-3927	190	80	:	:	PUNCT
fsr-3927	190	81	each	each	DET
fsr-3927	190	82	parameter5	parameter5	NOUN
fsr-3927	190	83	0	0	NUM
fsr-3927	190	84	453.925	453.925	NUM
fsr-3927	190	85	*	*	PUNCT
fsr-3927	190	86	*	*	PUNCT
fsr-3927	190	87	939.345	939.345	NUM
fsr-3927	190	88	*	*	SYM
fsr-3927	190	89	*	*	NOUN
fsr-3927	190	90	1590.159	1590.159	NUM
fsr-3927	190	91	*	*	PUNCT
fsr-3927	190	92	*	*	PUNCT
fsr-3927	190	93	*	*	PUNCT
fsr-3927	190	94	significant	significant	ADJ
fsr-3927	190	95	at	at	ADP
fsr-3927	190	96	5	5	NUM
fsr-3927	190	97	%	%	NOUN
fsr-3927	190	98	;	;	PUNCT
fsr-3927	190	99	*	*	PUNCT
fsr-3927	190	100	*	*	PUNCT
fsr-3927	190	101	significant	significant	ADJ
fsr-3927	190	102	at	at	ADP
fsr-3927	190	103	1	1	NUM
fsr-3927	190	104	%	%	NOUN
fsr-3927	190	105	.	.	PUNCT
fsr-3927	191	1	results	result	NOUN
fsr-3927	191	2	are	be	AUX
fsr-3927	191	3	from	from	ADP
fsr-3927	191	4	a	a	DET
fsr-3927	191	5	systems	system	NOUN
fsr-3927	191	6	of	of	ADP
fsr-3927	191	7	equations	equation	NOUN
fsr-3927	191	8	regression	regression	NOUN
fsr-3927	191	9	of	of	ADP
fsr-3927	191	10	weekly	weekly	ADJ
fsr-3927	191	11	percentage	percentage	NOUN
fsr-3927	191	12	discound	discound	ADJ
fsr-3927	191	13	against	against	ADP
fsr-3927	191	14	a	a	DET
fsr-3927	191	15	dummy	dummy	ADJ
fsr-3927	191	16	variable	variable	NOUN
fsr-3927	191	17	,	,	PUNCT
fsr-3927	191	18	d	d	NOUN
fsr-3927	191	19	,	,	PUNCT
fsr-3927	191	20	that	that	PRON
fsr-3927	191	21	is	be	AUX
fsr-3927	191	22	constructed	construct	VERB
fsr-3927	191	23	with	with	ADP
fsr-3927	191	24	ones	one	NOUN
fsr-3927	191	25	in	in	ADP
fsr-3927	191	26	the	the	DET
fsr-3927	191	27	post	post	ADJ
fsr-3927	191	28	-	-	ADJ
fsr-3927	191	29	event	event	ADJ
fsr-3927	191	30	window	window	NOUN
fsr-3927	191	31	.	.	PUNCT
fsr-3927	192	1	for	for	ADP
fsr-3927	192	2	each	each	DET
fsr-3927	192	3	individual	individual	ADJ
fsr-3927	192	4	firm	firm	PROPN
fsr-3927	192	5	j	j	PROPN
fsr-3927	192	6	,	,	PUNCT
fsr-3927	192	7	the	the	DET
fsr-3927	192	8	equation	equation	NOUN
fsr-3927	192	9	is	be	AUX
fsr-3927	192	10	:	:	PUNCT
fsr-3927	192	11	yj	yj	PROPN
fsr-3927	192	12	5	5	NUM
fsr-3927	192	13	mj	mj	PROPN
fsr-3927	192	14	1	1	NUM
fsr-3927	192	15	bjd	bjd	NOUN
fsr-3927	192	16	1	1	NUM
fsr-3927	192	17	«	«	PUNCT
fsr-3927	192	18	j	j	PROPN
fsr-3927	192	19	,	,	PUNCT
fsr-3927	192	20	with	with	ADP
fsr-3927	192	21	«	«	PUNCT
fsr-3927	192	22	j	j	PROPN
fsr-3927	192	23	;	;	PUNCT
fsr-3927	192	24	n(0	n(0	PROPN
fsr-3927	192	25	,	,	PUNCT
fsr-3927	192	26	s2	s2	PROPN
fsr-3927	192	27	)	)	PUNCT
fsr-3927	192	28	.	.	PUNCT
fsr-3927	193	1	268	268	NUM
fsr-3927	193	2	m.	m.	NOUN
fsr-3927	193	3	o’connor	o’connor	ADV
fsr-3927	193	4	,	,	PUNCT
fsr-3927	193	5	e.a	e.a	PROPN
fsr-3927	193	6	.	.	PROPN
fsr-3927	193	7	downe	downe	PROPN
fsr-3927	193	8	/	/	SYM
fsr-3927	193	9	financial	financial	ADJ
fsr-3927	193	10	services	service	NOUN
fsr-3927	193	11	review	review	VERB
fsr-3927	193	12	9	9	NUM
fsr-3927	193	13	(	(	PUNCT
fsr-3927	193	14	2000	2000	NUM
fsr-3927	193	15	)	)	PUNCT
fsr-3927	193	16	259–275	259–275	NUM
fsr-3927	193	17	that	that	SCONJ
fsr-3927	193	18	the	the	DET
fsr-3927	193	19	sum	sum	NOUN
fsr-3927	193	20	of	of	ADP
fsr-3927	193	21	the	the	DET
fsr-3927	193	22	coefficients	coefficient	NOUN
fsr-3927	193	23	equals	equal	VERB
fsr-3927	193	24	zero	zero	NUM
fsr-3927	193	25	rejects	reject	NOUN
fsr-3927	193	26	at	at	ADP
fsr-3927	193	27	the	the	DET
fsr-3927	193	28	1	1	NUM
fsr-3927	193	29	%	%	NOUN
fsr-3927	193	30	level	level	NOUN
fsr-3927	193	31	.	.	PUNCT
fsr-3927	194	1	the	the	DET
fsr-3927	194	2	52	52	NUM
fsr-3927	194	3	-	-	PUNCT
fsr-3927	194	4	week	week	NOUN
fsr-3927	194	5	run	run	NOUN
fsr-3927	194	6	has	have	VERB
fsr-3927	194	7	similar	similar	ADJ
fsr-3927	194	8	results	result	NOUN
fsr-3927	194	9	.	.	PUNCT
fsr-3927	195	1	table	table	NOUN
fsr-3927	195	2	2	2	NUM
fsr-3927	195	3	suggests	suggest	VERB
fsr-3927	195	4	that	that	SCONJ
fsr-3927	195	5	webs	webs	NOUN
fsr-3927	195	6	trading	trading	NOUN
fsr-3927	195	7	impacts	impact	NOUN
fsr-3927	195	8	both	both	DET
fsr-3927	195	9	groups	group	NOUN
fsr-3927	195	10	of	of	ADP
fsr-3927	195	11	funds	fund	NOUN
fsr-3927	195	12	.	.	PUNCT
fsr-3927	196	1	however	however	ADV
fsr-3927	196	2	,	,	PUNCT
fsr-3927	196	3	the	the	DET
fsr-3927	196	4	effect	effect	NOUN
fsr-3927	196	5	appears	appear	VERB
fsr-3927	196	6	to	to	PART
fsr-3927	196	7	be	be	AUX
fsr-3927	196	8	larger	large	ADJ
fsr-3927	196	9	for	for	ADP
fsr-3927	196	10	funds	fund	NOUN
fsr-3927	196	11	with	with	ADP
fsr-3927	196	12	a	a	DET
fsr-3927	196	13	corresponding	corresponding	ADJ
fsr-3927	196	14	webs	webs	NOUN
fsr-3927	196	15	index	index	NOUN
fsr-3927	196	16	.	.	PUNCT
fsr-3927	197	1	hence	hence	ADV
fsr-3927	197	2	,	,	PUNCT
fsr-3927	197	3	we	we	PRON
fsr-3927	197	4	specifically	specifically	ADV
fsr-3927	197	5	test	test	VERB
fsr-3927	197	6	for	for	ADP
fsr-3927	197	7	a	a	DET
fsr-3927	197	8	differential	differential	NOUN
fsr-3927	197	9	using	use	VERB
fsr-3927	197	10	the	the	DET
fsr-3927	197	11	two	two	NUM
fsr-3927	197	12	-	-	PUNCT
fsr-3927	197	13	factor	factor	NOUN
fsr-3927	197	14	difference	difference	NOUN
fsr-3927	197	15	in	in	ADP
fsr-3927	197	16	means	mean	NOUN
fsr-3927	197	17	test	test	NOUN
fsr-3927	197	18	.	.	PUNCT
fsr-3927	198	1	4.2	4.2	NUM
fsr-3927	198	2	.	.	PUNCT
fsr-3927	198	3	results	result	NOUN
fsr-3927	198	4	of	of	ADP
fsr-3927	198	5	the	the	DET
fsr-3927	198	6	two	two	NUM
fsr-3927	198	7	-	-	PUNCT
fsr-3927	198	8	factor	factor	NOUN
fsr-3927	198	9	test	test	NOUN
fsr-3927	198	10	we	we	PRON
fsr-3927	198	11	run	run	VERB
fsr-3927	198	12	the	the	DET
fsr-3927	198	13	two	two	NUM
fsr-3927	198	14	-	-	PUNCT
fsr-3927	198	15	factor	factor	NOUN
fsr-3927	198	16	model	model	NOUN
fsr-3927	198	17	for	for	ADP
fsr-3927	198	18	a	a	DET
fsr-3927	198	19	pooled	pooled	ADJ
fsr-3927	198	20	sample	sample	NOUN
fsr-3927	198	21	of	of	ADP
fsr-3927	198	22	all	all	DET
fsr-3927	198	23	43	43	NUM
fsr-3927	198	24	cecfs	cecfs	NOUN
fsr-3927	198	25	.	.	PUNCT
fsr-3927	199	1	analogous	analogous	ADJ
fsr-3927	199	2	to	to	ADP
fsr-3927	199	3	the	the	DET
fsr-3927	199	4	systems	system	NOUN
fsr-3927	199	5	of	of	ADP
fsr-3927	199	6	equations	equation	NOUN
fsr-3927	199	7	models	model	NOUN
fsr-3927	199	8	,	,	PUNCT
fsr-3927	199	9	we	we	PRON
fsr-3927	199	10	run	run	VERB
fsr-3927	199	11	the	the	DET
fsr-3927	199	12	model	model	NOUN
fsr-3927	199	13	separately	separately	ADV
fsr-3927	199	14	for	for	ADP
fsr-3927	199	15	each	each	PRON
fsr-3927	199	16	of	of	ADP
fsr-3927	199	17	the	the	DET
fsr-3927	199	18	three	three	NUM
fsr-3927	199	19	post	post	ADJ
fsr-3927	199	20	-	-	ADJ
fsr-3927	199	21	event	event	ADJ
fsr-3927	199	22	windows	window	NOUN
fsr-3927	199	23	.	.	PUNCT
fsr-3927	200	1	table	table	NOUN
fsr-3927	200	2	3	3	NUM
fsr-3927	200	3	—	—	PUNCT
fsr-3927	200	4	panel	panel	NOUN
fsr-3927	200	5	a	a	DET
fsr-3927	200	6	reports	report	NOUN
fsr-3927	200	7	the	the	DET
fsr-3927	200	8	parameter	parameter	NOUN
fsr-3927	200	9	estimates	estimate	NOUN
fsr-3927	200	10	,	,	PUNCT
fsr-3927	200	11	and	and	CCONJ
fsr-3927	200	12	panel	panel	NOUN
fsr-3927	200	13	b	b	PROPN
fsr-3927	200	14	presents	present	VERB
fsr-3927	200	15	the	the	DET
fsr-3927	200	16	results	result	NOUN
fsr-3927	200	17	of	of	ADP
fsr-3927	200	18	coefficient	coefficient	NOUN
fsr-3927	200	19	restriction	restriction	NOUN
fsr-3927	200	20	tests	test	VERB
fsr-3927	200	21	on	on	ADP
fsr-3927	200	22	each	each	PRON
fsr-3927	200	23	of	of	ADP
fsr-3927	200	24	the	the	DET
fsr-3927	200	25	three	three	NUM
fsr-3927	200	26	null	null	ADJ
fsr-3927	200	27	hypotheses	hypothesis	NOUN
fsr-3927	200	28	.	.	PUNCT
fsr-3927	201	1	focusing	focus	VERB
fsr-3927	201	2	on	on	ADP
fsr-3927	201	3	the	the	DET
fsr-3927	201	4	13	13	NUM
fsr-3927	201	5	-	-	PUNCT
fsr-3927	201	6	week	week	NOUN
fsr-3927	201	7	post	post	ADJ
fsr-3927	201	8	-	-	ADJ
fsr-3927	201	9	event	event	ADJ
fsr-3927	201	10	period	period	NOUN
fsr-3927	201	11	,	,	PUNCT
fsr-3927	201	12	we	we	PRON
fsr-3927	201	13	reject	reject	VERB
fsr-3927	201	14	the	the	DET
fsr-3927	201	15	first	first	ADJ
fsr-3927	201	16	two	two	NUM
fsr-3927	201	17	null	null	ADJ
fsr-3927	201	18	hypotheses	hypothesis	NOUN
fsr-3927	201	19	.	.	PUNCT
fsr-3927	202	1	these	these	DET
fsr-3927	202	2	findings	finding	NOUN
fsr-3927	202	3	are	be	AUX
fsr-3927	202	4	consistent	consistent	ADJ
fsr-3927	202	5	with	with	ADP
fsr-3927	202	6	the	the	DET
fsr-3927	202	7	results	result	NOUN
fsr-3927	202	8	from	from	ADP
fsr-3927	202	9	the	the	DET
fsr-3927	202	10	modified	modify	VERB
fsr-3927	202	11	event	event	NOUN
fsr-3927	202	12	study	study	NOUN
fsr-3927	202	13	.	.	PUNCT
fsr-3927	203	1	in	in	ADP
fsr-3927	203	2	particular	particular	ADJ
fsr-3927	203	3	,	,	PUNCT
fsr-3927	203	4	mean	mean	VERB
fsr-3927	203	5	discounts	discount	NOUN
fsr-3927	203	6	for	for	ADP
fsr-3927	203	7	both	both	DET
fsr-3927	203	8	categories	category	NOUN
fsr-3927	203	9	of	of	ADP
fsr-3927	203	10	funds	fund	NOUN
fsr-3927	203	11	increase	increase	VERB
fsr-3927	203	12	after	after	ADP
fsr-3927	203	13	the	the	DET
fsr-3927	203	14	introduction	introduction	NOUN
fsr-3927	203	15	of	of	ADP
fsr-3927	203	16	webs	webs	NOUN
fsr-3927	203	17	trading	trading	NOUN
fsr-3927	203	18	.	.	PUNCT
fsr-3927	204	1	moreover	moreover	ADV
fsr-3927	204	2	,	,	PUNCT
fsr-3927	204	3	we	we	PRON
fsr-3927	204	4	reject	reject	VERB
fsr-3927	204	5	the	the	DET
fsr-3927	204	6	third	third	ADJ
fsr-3927	204	7	null	null	ADJ
fsr-3927	204	8	hypothesis	hypothesis	NOUN
fsr-3927	204	9	,	,	PUNCT
fsr-3927	204	10	confirming	confirm	VERB
fsr-3927	204	11	a	a	DET
fsr-3927	204	12	statistically	statistically	ADV
fsr-3927	204	13	significant	significant	ADJ
fsr-3927	204	14	differential	differential	ADJ
fsr-3927	204	15	impact	impact	NOUN
fsr-3927	204	16	.	.	PUNCT
fsr-3927	205	1	these	these	DET
fsr-3927	205	2	results	result	NOUN
fsr-3927	205	3	hold	hold	VERB
fsr-3927	205	4	for	for	ADP
fsr-3927	205	5	both	both	CCONJ
fsr-3927	205	6	the	the	DET
fsr-3927	205	7	intermediate	intermediate	ADJ
fsr-3927	205	8	and	and	CCONJ
fsr-3927	205	9	long	long	ADJ
fsr-3927	205	10	-	-	PUNCT
fsr-3927	205	11	term	term	NOUN
fsr-3927	205	12	windows	window	NOUN
fsr-3927	205	13	as	as	ADV
fsr-3927	205	14	well	well	ADV
fsr-3927	205	15	.	.	PUNCT
fsr-3927	206	1	overall	overall	ADV
fsr-3927	206	2	,	,	PUNCT
fsr-3927	206	3	the	the	DET
fsr-3927	206	4	stronger	strong	ADJ
fsr-3927	206	5	impact	impact	NOUN
fsr-3927	206	6	on	on	ADP
fsr-3927	206	7	corresponding	correspond	VERB
fsr-3927	206	8	closed	close	VERB
fsr-3927	206	9	-	-	PUNCT
fsr-3927	206	10	end	end	NOUN
fsr-3927	206	11	funds	fund	NOUN
fsr-3927	206	12	is	be	AUX
fsr-3927	206	13	consistent	consistent	ADJ
fsr-3927	206	14	with	with	ADP
fsr-3927	206	15	the	the	DET
fsr-3927	206	16	economic	economic	ADJ
fsr-3927	206	17	explanation	explanation	NOUN
fsr-3927	206	18	.	.	PUNCT
fsr-3927	207	1	these	these	DET
fsr-3927	207	2	results	result	NOUN
fsr-3927	207	3	are	be	AUX
fsr-3927	207	4	easily	easily	ADV
fsr-3927	207	5	observed	observe	VERB
fsr-3927	207	6	in	in	ADP
fsr-3927	207	7	chart	chart	NOUN
fsr-3927	207	8	1	1	NUM
fsr-3927	207	9	below	below	ADV
fsr-3927	207	10	.	.	PUNCT
fsr-3927	208	1	the	the	DET
fsr-3927	208	2	chart	chart	NOUN
fsr-3927	208	3	shows	show	VERB
fsr-3927	208	4	the	the	DET
fsr-3927	208	5	increase	increase	NOUN
fsr-3927	208	6	in	in	ADP
fsr-3927	208	7	average	average	ADJ
fsr-3927	208	8	percentage	percentage	NOUN
fsr-3927	208	9	discounts	discount	NOUN
fsr-3927	208	10	above	above	ADP
fsr-3927	208	11	pre	pre	ADJ
fsr-3927	208	12	-	-	NOUN
fsr-3927	208	13	event	event	ADJ
fsr-3927	208	14	means	mean	NOUN
fsr-3927	208	15	,	,	PUNCT
fsr-3927	208	16	for	for	ADP
fsr-3927	208	17	cecfs	cecfs	NOUN
fsr-3927	208	18	with	with	ADP
fsr-3927	208	19	and	and	CCONJ
fsr-3927	208	20	without	without	ADP
fsr-3927	208	21	corresponding	correspond	VERB
fsr-3927	208	22	webs	webs	NOUN
fsr-3927	208	23	indexes	index	NOUN
fsr-3927	208	24	.	.	PUNCT
fsr-3927	209	1	clearly	clearly	ADV
fsr-3927	209	2	cecfs	cecfs	VERB
fsr-3927	209	3	with	with	ADP
fsr-3927	209	4	a	a	DET
fsr-3927	209	5	corresponding	corresponding	ADJ
fsr-3927	209	6	webs	webs	NOUN
fsr-3927	209	7	index	index	NOUN
fsr-3927	209	8	have	have	VERB
fsr-3927	209	9	larger	large	ADJ
fsr-3927	209	10	and	and	CCONJ
fsr-3927	209	11	more	more	ADV
fsr-3927	209	12	persistent	persistent	ADJ
fsr-3927	209	13	increases	increase	NOUN
fsr-3927	209	14	in	in	ADP
fsr-3927	209	15	percentage	percentage	NOUN
fsr-3927	209	16	discounts	discount	NOUN
fsr-3927	209	17	relative	relative	ADJ
fsr-3927	209	18	to	to	PART
fsr-3927	209	19	cecfs	cecfs	VERB
fsr-3927	209	20	with	with	ADP
fsr-3927	209	21	no	no	DET
fsr-3927	209	22	corresponding	correspond	VERB
fsr-3927	209	23	webs	webs	NOUN
fsr-3927	209	24	.	.	PUNCT
fsr-3927	210	1	4.3	4.3	NUM
fsr-3927	210	2	.	.	PUNCT
fsr-3927	211	1	volume	volume	NOUN
fsr-3927	211	2	analysis	analysis	NOUN
fsr-3927	211	3	since	since	SCONJ
fsr-3927	211	4	the	the	DET
fsr-3927	211	5	previous	previous	ADJ
fsr-3927	211	6	tests	test	NOUN
fsr-3927	211	7	do	do	AUX
fsr-3927	211	8	not	not	PART
fsr-3927	211	9	directly	directly	ADV
fsr-3927	211	10	differentiate	differentiate	VERB
fsr-3927	211	11	between	between	ADP
fsr-3927	211	12	a	a	DET
fsr-3927	211	13	market	market	NOUN
fsr-3927	211	14	segmentation	segmentation	NOUN
fsr-3927	211	15	effect	effect	NOUN
fsr-3927	211	16	and	and	CCONJ
fsr-3927	211	17	an	an	DET
fsr-3927	211	18	agency	agency	NOUN
fsr-3927	211	19	effect	effect	NOUN
fsr-3927	211	20	,	,	PUNCT
fsr-3927	211	21	we	we	PRON
fsr-3927	211	22	also	also	ADV
fsr-3927	211	23	examine	examine	VERB
fsr-3927	211	24	the	the	DET
fsr-3927	211	25	impact	impact	NOUN
fsr-3927	211	26	on	on	ADP
fsr-3927	211	27	trading	trading	NOUN
fsr-3927	211	28	volume	volume	NOUN
fsr-3927	211	29	.	.	PUNCT
fsr-3927	212	1	if	if	SCONJ
fsr-3927	212	2	cecf	cecf	PROPN
fsr-3927	212	3	agency	agency	NOUN
fsr-3927	212	4	costs	cost	NOUN
fsr-3927	212	5	are	be	AUX
fsr-3927	212	6	excessive	excessive	ADJ
fsr-3927	212	7	,	,	PUNCT
fsr-3927	212	8	then	then	ADV
fsr-3927	212	9	investors	investor	NOUN
fsr-3927	212	10	should	should	AUX
fsr-3927	212	11	migrate	migrate	VERB
fsr-3927	212	12	to	to	ADP
fsr-3927	212	13	lower	low	ADJ
fsr-3927	212	14	fee	fee	NOUN
fsr-3927	212	15	webs	webs	NOUN
fsr-3927	212	16	,	,	PUNCT
fsr-3927	212	17	reducing	reduce	VERB
fsr-3927	212	18	cecf	cecf	NOUN
fsr-3927	212	19	volumes	volume	NOUN
fsr-3927	212	20	.	.	PUNCT
fsr-3927	213	1	as	as	ADP
fsr-3927	213	2	before	before	ADV
fsr-3927	213	3	,	,	PUNCT
fsr-3927	213	4	the	the	DET
fsr-3927	213	5	impact	impact	NOUN
fsr-3927	213	6	should	should	AUX
fsr-3927	213	7	be	be	AUX
fsr-3927	213	8	more	more	ADV
fsr-3927	213	9	pronounced	pronounce	VERB
fsr-3927	213	10	in	in	ADP
fsr-3927	213	11	funds	fund	NOUN
fsr-3927	213	12	with	with	ADP
fsr-3927	213	13	a	a	DET
fsr-3927	213	14	corresponding	corresponding	ADJ
fsr-3927	213	15	webs	webs	NOUN
fsr-3927	213	16	index	index	NOUN
fsr-3927	213	17	.	.	PUNCT
fsr-3927	214	1	to	to	PART
fsr-3927	214	2	test	test	VERB
fsr-3927	214	3	this	this	DET
fsr-3927	214	4	hypothesis	hypothesis	NOUN
fsr-3927	214	5	,	,	PUNCT
fsr-3927	214	6	we	we	PRON
fsr-3927	214	7	re	re	VERB
fsr-3927	214	8	-	-	VERB
fsr-3927	214	9	run	run	VERB
fsr-3927	214	10	the	the	DET
fsr-3927	214	11	systems	system	NOUN
fsr-3927	214	12	of	of	ADP
fsr-3927	214	13	equations	equation	NOUN
fsr-3927	214	14	models	model	NOUN
fsr-3927	214	15	with	with	ADP
fsr-3927	214	16	volume	volume	NOUN
fsr-3927	214	17	data	datum	NOUN
fsr-3927	214	18	replacing	replace	VERB
fsr-3927	214	19	percentage	percentage	NOUN
fsr-3927	214	20	discounts	discount	NOUN
fsr-3927	214	21	.	.	PUNCT
fsr-3927	215	1	in	in	ADP
fsr-3927	215	2	particular	particular	ADJ
fsr-3927	215	3	we	we	PRON
fsr-3927	215	4	now	now	ADV
fsr-3927	215	5	let	let	VERB
fsr-3927	215	6	yj	yj	NOUN
fsr-3927	215	7	be	be	AUX
fsr-3927	215	8	a	a	DET
fsr-3927	215	9	vector	vector	NOUN
fsr-3927	215	10	of	of	ADP
fsr-3927	215	11	average	average	ADJ
fsr-3927	215	12	daily	daily	ADJ
fsr-3927	215	13	volumes	volume	NOUN
fsr-3927	215	14	(	(	PUNCT
fsr-3927	215	15	observed	observe	VERB
fsr-3927	215	16	weekly	weekly	ADV
fsr-3927	215	17	)	)	PUNCT
fsr-3927	215	18	for	for	ADP
fsr-3927	215	19	fund	fund	NOUN
fsr-3927	215	20	j.	j.	PROPN
fsr-3927	215	21	as	as	ADP
fsr-3927	215	22	before	before	ADV
fsr-3927	215	23	,	,	PUNCT
fsr-3927	215	24	we	we	PRON
fsr-3927	215	25	run	run	VERB
fsr-3927	215	26	the	the	DET
fsr-3927	215	27	models	model	NOUN
fsr-3927	215	28	separately	separately	ADV
fsr-3927	215	29	by	by	ADP
fsr-3927	215	30	fund	fund	NOUN
fsr-3927	215	31	group	group	NOUN
fsr-3927	215	32	and	and	CCONJ
fsr-3927	215	33	by	by	ADP
fsr-3927	215	34	post	post	ADJ
fsr-3927	215	35	-	-	ADJ
fsr-3927	215	36	event	event	ADJ
fsr-3927	215	37	measurement	measurement	NOUN
fsr-3927	215	38	window	window	NOUN
fsr-3927	215	39	.	.	PUNCT
fsr-3927	216	1	table	table	NOUN
fsr-3927	216	2	4	4	NUM
fsr-3927	216	3	—	—	PUNCT
fsr-3927	216	4	panel	panel	NOUN
fsr-3927	216	5	a	a	DET
fsr-3927	216	6	presents	present	VERB
fsr-3927	216	7	the	the	DET
fsr-3927	216	8	results	result	NOUN
fsr-3927	216	9	of	of	ADP
fsr-3927	216	10	the	the	DET
fsr-3927	216	11	volume	volume	NOUN
fsr-3927	216	12	analysis	analysis	NOUN
fsr-3927	216	13	for	for	ADP
fsr-3927	216	14	funds	fund	NOUN
fsr-3927	216	15	with	with	ADP
fsr-3927	216	16	a	a	DET
fsr-3927	216	17	corresponding	corresponding	ADJ
fsr-3927	216	18	webs	webs	NOUN
fsr-3927	216	19	index	index	NOUN
fsr-3927	216	20	.	.	PUNCT
fsr-3927	217	1	for	for	ADP
fsr-3927	217	2	this	this	DET
fsr-3927	217	3	model	model	NOUN
fsr-3927	217	4	,	,	PUNCT
fsr-3927	217	5	a	a	DET
fsr-3927	217	6	negativebj	negativebj	NOUN
fsr-3927	217	7	coefficient	coefficient	NOUN
fsr-3927	217	8	indicates	indicate	VERB
fsr-3927	217	9	a	a	DET
fsr-3927	217	10	decrease	decrease	NOUN
fsr-3927	217	11	in	in	ADP
fsr-3927	217	12	trading	trading	NOUN
fsr-3927	217	13	volume	volume	NOUN
fsr-3927	217	14	after	after	ADP
fsr-3927	217	15	the	the	DET
fsr-3927	217	16	introduction	introduction	NOUN
fsr-3927	217	17	of	of	ADP
fsr-3927	217	18	webs	webs	NOUN
fsr-3927	217	19	trading	trading	NOUN
fsr-3927	217	20	.	.	PUNCT
fsr-3927	218	1	for	for	ADP
fsr-3927	218	2	the	the	DET
fsr-3927	218	3	13	13	NUM
fsr-3927	218	4	-	-	PUNCT
fsr-3927	218	5	week	week	NOUN
fsr-3927	218	6	window	window	NOUN
fsr-3927	218	7	,	,	PUNCT
fsr-3927	218	8	11	11	NUM
fsr-3927	218	9	of	of	ADP
fsr-3927	218	10	the	the	DET
fsr-3927	218	11	14	14	NUM
fsr-3927	218	12	(	(	PUNCT
fsr-3927	218	13	79	79	NUM
fsr-3927	218	14	%	%	NOUN
fsr-3927	218	15	)	)	PUNCT
fsr-3927	218	16	individual	individual	ADJ
fsr-3927	218	17	funds	fund	NOUN
fsr-3927	218	18	experience	experience	VERB
fsr-3927	218	19	a	a	DET
fsr-3927	218	20	decrease	decrease	NOUN
fsr-3927	218	21	in	in	ADP
fsr-3927	218	22	mean	mean	ADJ
fsr-3927	218	23	trading	trading	NOUN
fsr-3927	218	24	volume	volume	NOUN
fsr-3927	218	25	.	.	PUNCT
fsr-3927	219	1	however	however	ADV
fsr-3927	219	2	,	,	PUNCT
fsr-3927	219	3	only	only	ADV
fsr-3927	219	4	one	one	NUM
fsr-3927	219	5	decrease	decrease	NOUN
fsr-3927	219	6	is	be	AUX
fsr-3927	219	7	significant	significant	ADJ
fsr-3927	219	8	(	(	PUNCT
fsr-3927	219	9	5	5	NUM
fsr-3927	219	10	%	%	NOUN
fsr-3927	219	11	level	level	NOUN
fsr-3927	219	12	)	)	PUNCT
fsr-3927	219	13	.	.	PUNCT
fsr-3927	220	1	furthermore	furthermore	ADV
fsr-3927	220	2	,	,	PUNCT
fsr-3927	220	3	we	we	PRON
fsr-3927	220	4	fail	fail	VERB
fsr-3927	220	5	to	to	PART
fsr-3927	220	6	reject	reject	VERB
fsr-3927	220	7	either	either	CCONJ
fsr-3927	220	8	the	the	DET
fsr-3927	220	9	null	null	ADJ
fsr-3927	220	10	hypothesis	hypothesis	NOUN
fsr-3927	220	11	that	that	PRON
fsr-3927	220	12	all	all	DET
fsr-3927	220	13	funds	fund	NOUN
fsr-3927	220	14	have	have	VERB
fsr-3927	220	15	zerobj	zerobj	NOUN
fsr-3927	220	16	parameters	parameter	NOUN
fsr-3927	220	17	or	or	CCONJ
fsr-3927	220	18	that	that	SCONJ
fsr-3927	220	19	the	the	DET
fsr-3927	220	20	sum	sum	NOUN
fsr-3927	220	21	of	of	ADP
fsr-3927	220	22	the	the	DET
fsr-3927	220	23	parameters	parameter	NOUN
fsr-3927	220	24	is	be	AUX
fsr-3927	220	25	zero	zero	NUM
fsr-3927	220	26	.	.	PUNCT
fsr-3927	221	1	thus	thus	ADV
fsr-3927	221	2	in	in	ADP
fsr-3927	221	3	the	the	DET
fsr-3927	221	4	short	short	ADJ
fsr-3927	221	5	-	-	PUNCT
fsr-3927	221	6	term	term	NOUN
fsr-3927	221	7	,	,	PUNCT
fsr-3927	221	8	the	the	DET
fsr-3927	221	9	direction	direction	NOUN
fsr-3927	221	10	of	of	ADP
fsr-3927	221	11	the	the	DET
fsr-3927	221	12	volume	volume	NOUN
fsr-3927	221	13	change	change	NOUN
fsr-3927	221	14	is	be	AUX
fsr-3927	221	15	consistent	consistent	ADJ
fsr-3927	221	16	with	with	ADP
fsr-3927	221	17	reduced	reduced	ADJ
fsr-3927	221	18	demand	demand	NOUN
fsr-3927	221	19	,	,	PUNCT
fsr-3927	221	20	but	but	CCONJ
fsr-3927	221	21	the	the	DET
fsr-3927	221	22	level	level	NOUN
fsr-3927	221	23	is	be	AUX
fsr-3927	221	24	not	not	PART
fsr-3927	221	25	significant	significant	ADJ
fsr-3927	221	26	.	.	PUNCT
fsr-3927	222	1	for	for	ADP
fsr-3927	222	2	the	the	DET
fsr-3927	222	3	26	26	NUM
fsr-3927	222	4	-	-	PUNCT
fsr-3927	222	5	week	week	NOUN
fsr-3927	222	6	window	window	NOUN
fsr-3927	222	7	,	,	PUNCT
fsr-3927	222	8	only	only	ADV
fsr-3927	222	9	9	9	NUM
fsr-3927	222	10	of	of	ADP
fsr-3927	222	11	the	the	DET
fsr-3927	222	12	decreases	decrease	NOUN
fsr-3927	222	13	are	be	AUX
fsr-3927	222	14	significant	significant	ADJ
fsr-3927	222	15	at	at	ADP
fsr-3927	222	16	the	the	DET
fsr-3927	222	17	1	1	NUM
fsr-3927	222	18	%	%	NOUN
fsr-3927	222	19	or	or	CCONJ
fsr-3927	222	20	5	5	NUM
fsr-3927	222	21	%	%	NOUN
fsr-3927	222	22	levels	level	NOUN
fsr-3927	222	23	.	.	PUNCT
fsr-3927	223	1	further	far	ADV
fsr-3927	223	2	,	,	PUNCT
fsr-3927	223	3	the	the	DET
fsr-3927	223	4	hypotheses	hypothesis	NOUN
fsr-3927	223	5	that	that	PRON
fsr-3927	223	6	the	the	DET
fsr-3927	223	7	parameters	parameter	NOUN
fsr-3927	223	8	sum	sum	VERB
fsr-3927	223	9	to	to	ADP
fsr-3927	223	10	zero	zero	NUM
fsr-3927	223	11	and	and	CCONJ
fsr-3927	223	12	are	be	AUX
fsr-3927	223	13	jointly	jointly	ADV
fsr-3927	223	14	zero	zero	NUM
fsr-3927	223	15	reject	reject	NOUN
fsr-3927	223	16	.	.	PUNCT
fsr-3927	224	1	results	result	NOUN
fsr-3927	224	2	of	of	ADP
fsr-3927	224	3	the	the	DET
fsr-3927	224	4	52	52	NUM
fsr-3927	224	5	-	-	PUNCT
fsr-3927	224	6	week	week	NOUN
fsr-3927	224	7	window	window	NOUN
fsr-3927	224	8	are	be	AUX
fsr-3927	224	9	similar	similar	ADJ
fsr-3927	224	10	.	.	PUNCT
fsr-3927	225	1	compared	compare	VERB
fsr-3927	225	2	to	to	ADP
fsr-3927	225	3	percentage	percentage	NOUN
fsr-3927	225	4	269	269	NUM
fsr-3927	225	5	m.	m.	NOUN
fsr-3927	225	6	o’connor	o’connor	ADV
fsr-3927	225	7	,	,	PUNCT
fsr-3927	225	8	e.a	e.a	PROPN
fsr-3927	225	9	.	.	PROPN
fsr-3927	225	10	downe	downe	PROPN
fsr-3927	225	11	/	/	SYM
fsr-3927	225	12	financial	financial	ADJ
fsr-3927	225	13	services	service	NOUN
fsr-3927	225	14	review	review	VERB
fsr-3927	225	15	9	9	NUM
fsr-3927	225	16	(	(	PUNCT
fsr-3927	225	17	2000	2000	NUM
fsr-3927	225	18	)	)	PUNCT
fsr-3927	225	19	259–275	259–275	NUM
fsr-3927	225	20	discounts	discount	NOUN
fsr-3927	225	21	,	,	PUNCT
fsr-3927	225	22	the	the	DET
fsr-3927	225	23	change	change	NOUN
fsr-3927	225	24	in	in	ADP
fsr-3927	225	25	trading	trading	NOUN
fsr-3927	225	26	volume	volume	NOUN
fsr-3927	225	27	appears	appear	VERB
fsr-3927	225	28	to	to	PART
fsr-3927	225	29	materialize	materialize	VERB
fsr-3927	225	30	more	more	ADV
fsr-3927	225	31	slowly	slowly	ADV
fsr-3927	225	32	and	and	CCONJ
fsr-3927	225	33	impact	impact	VERB
fsr-3927	225	34	fewer	few	ADJ
fsr-3927	225	35	funds	fund	NOUN
fsr-3927	225	36	.	.	PUNCT
fsr-3927	226	1	table	table	NOUN
fsr-3927	226	2	4	4	NUM
fsr-3927	226	3	—	—	PUNCT
fsr-3927	226	4	panel	panel	NOUN
fsr-3927	226	5	b	b	PROPN
fsr-3927	226	6	presents	present	VERB
fsr-3927	226	7	the	the	DET
fsr-3927	226	8	results	result	NOUN
fsr-3927	226	9	of	of	ADP
fsr-3927	226	10	the	the	DET
fsr-3927	226	11	volume	volume	NOUN
fsr-3927	226	12	analysis	analysis	NOUN
fsr-3927	226	13	for	for	ADP
fsr-3927	226	14	the	the	DET
fsr-3927	226	15	21	21	NUM
fsr-3927	226	16	firms	firm	NOUN
fsr-3927	226	17	with	with	ADP
fsr-3927	226	18	no	no	DET
fsr-3927	226	19	corresponding	correspond	VERB
fsr-3927	226	20	webs	webs	NOUN
fsr-3927	226	21	index	index	NOUN
fsr-3927	226	22	.	.	PUNCT
fsr-3927	227	1	for	for	ADP
fsr-3927	227	2	the	the	DET
fsr-3927	227	3	13	13	NUM
fsr-3927	227	4	-	-	PUNCT
fsr-3927	227	5	week	week	NOUN
fsr-3927	227	6	post	post	ADJ
fsr-3927	227	7	-	-	ADJ
fsr-3927	227	8	event	event	ADJ
fsr-3927	227	9	window	window	NOUN
fsr-3927	227	10	13	13	NUM
fsr-3927	227	11	of	of	ADP
fsr-3927	227	12	the	the	DET
fsr-3927	227	13	21	21	NUM
fsr-3927	227	14	(	(	PUNCT
fsr-3927	227	15	62	62	NUM
fsr-3927	227	16	%	%	NOUN
fsr-3927	227	17	)	)	PUNCT
fsr-3927	227	18	funds	fund	NOUN
fsr-3927	227	19	experience	experience	NOUN
fsr-3927	227	20	decreased	decrease	VERB
fsr-3927	227	21	volumes	volume	NOUN
fsr-3927	227	22	,	,	PUNCT
fsr-3927	227	23	but	but	CCONJ
fsr-3927	227	24	only	only	ADV
fsr-3927	227	25	1	1	NUM
fsr-3927	227	26	volume	volume	NOUN
fsr-3927	227	27	decrease	decrease	NOUN
fsr-3927	227	28	is	be	AUX
fsr-3927	227	29	significant	significant	ADJ
fsr-3927	227	30	at	at	ADP
fsr-3927	227	31	even	even	ADV
fsr-3927	227	32	the	the	DET
fsr-3927	227	33	5	5	NUM
fsr-3927	227	34	%	%	NOUN
fsr-3927	227	35	level	level	NOUN
fsr-3927	227	36	.	.	PUNCT
fsr-3927	228	1	also	also	ADV
fsr-3927	228	2	,	,	PUNCT
fsr-3927	228	3	the	the	DET
fsr-3927	228	4	sum	sum	NOUN
fsr-3927	228	5	of	of	ADP
fsr-3927	228	6	thebj	thebj	NOUN
fsr-3927	228	7	parameters	parameter	NOUN
fsr-3927	228	8	is	be	AUX
fsr-3927	228	9	not	not	PART
fsr-3927	228	10	significantly	significantly	ADV
fsr-3927	228	11	different	different	ADJ
fsr-3927	228	12	from	from	ADP
fsr-3927	228	13	zero	zero	NUM
fsr-3927	228	14	,	,	PUNCT
fsr-3927	228	15	indicating	indicate	VERB
fsr-3927	228	16	that	that	SCONJ
fsr-3927	228	17	the	the	DET
fsr-3927	228	18	introduction	introduction	NOUN
fsr-3927	228	19	of	of	ADP
fsr-3927	228	20	webs	webs	NOUN
fsr-3927	228	21	trading	trading	NOUN
fsr-3927	228	22	does	do	AUX
fsr-3927	228	23	not	not	PART
fsr-3927	228	24	have	have	VERB
fsr-3927	228	25	a	a	DET
fsr-3927	228	26	significant	significant	ADJ
fsr-3927	228	27	effect	effect	NOUN
fsr-3927	228	28	on	on	ADP
fsr-3927	228	29	the	the	DET
fsr-3927	228	30	trading	trading	NOUN
fsr-3927	228	31	volumes	volume	NOUN
fsr-3927	228	32	of	of	ADP
fsr-3927	228	33	this	this	DET
fsr-3927	228	34	group	group	NOUN
fsr-3927	228	35	.	.	PUNCT
fsr-3927	229	1	over	over	ADP
fsr-3927	229	2	the	the	DET
fsr-3927	229	3	26	26	NUM
fsr-3927	229	4	-	-	PUNCT
fsr-3927	229	5	week	week	NOUN
fsr-3927	229	6	window	window	NOUN
fsr-3927	229	7	,	,	PUNCT
fsr-3927	229	8	the	the	DET
fsr-3927	229	9	number	number	NOUN
fsr-3927	229	10	of	of	ADP
fsr-3927	229	11	funds	fund	NOUN
fsr-3927	229	12	with	with	ADP
fsr-3927	229	13	lower	low	ADJ
fsr-3927	229	14	volume	volume	NOUN
fsr-3927	229	15	remains	remain	VERB
fsr-3927	229	16	at	at	ADP
fsr-3927	229	17	13	13	NUM
fsr-3927	229	18	,	,	PUNCT
fsr-3927	229	19	with	with	ADP
fsr-3927	229	20	two	two	NUM
fsr-3927	229	21	of	of	ADP
fsr-3927	229	22	the	the	DET
fsr-3927	229	23	changes	change	NOUN
fsr-3927	229	24	significant	significant	ADJ
fsr-3927	229	25	at	at	ADP
fsr-3927	229	26	the	the	DET
fsr-3927	229	27	5	5	NUM
fsr-3927	229	28	%	%	NOUN
fsr-3927	229	29	level	level	NOUN
fsr-3927	229	30	.	.	PUNCT
fsr-3927	230	1	also	also	ADV
fsr-3927	230	2	,	,	PUNCT
fsr-3927	230	3	the	the	DET
fsr-3927	230	4	null	null	ADJ
fsr-3927	230	5	hypothesis	hypothesis	NOUN
fsr-3927	230	6	that	that	PRON
fsr-3927	230	7	the	the	DET
fsr-3927	230	8	sum	sum	NOUN
fsr-3927	230	9	of	of	ADP
fsr-3927	230	10	the	the	DET
fsr-3927	230	11	volume	volume	NOUN
fsr-3927	230	12	changes	change	NOUN
fsr-3927	230	13	equals	equal	VERB
fsr-3927	230	14	zero	zero	NUM
fsr-3927	230	15	can	can	AUX
fsr-3927	230	16	not	not	PART
fsr-3927	230	17	be	be	AUX
fsr-3927	230	18	rejected	reject	VERB
fsr-3927	230	19	.	.	PUNCT
fsr-3927	231	1	similar	similar	ADJ
fsr-3927	231	2	results	result	NOUN
fsr-3927	231	3	occur	occur	VERB
fsr-3927	231	4	as	as	SCONJ
fsr-3927	231	5	we	we	PRON
fsr-3927	231	6	extend	extend	VERB
fsr-3927	231	7	the	the	DET
fsr-3927	231	8	window	window	NOUN
fsr-3927	231	9	to	to	ADP
fsr-3927	231	10	52	52	NUM
fsr-3927	231	11	weeks	week	NOUN
fsr-3927	231	12	.	.	PUNCT
fsr-3927	232	1	interestingly	interestingly	ADV
fsr-3927	232	2	,	,	PUNCT
fsr-3927	232	3	the	the	DET
fsr-3927	232	4	null	null	ADJ
fsr-3927	232	5	hypothesis	hypothesis	NOUN
fsr-3927	232	6	that	that	PRON
fsr-3927	232	7	thebj	thebj	ADJ
fsr-3927	232	8	parameters	parameter	NOUN
fsr-3927	232	9	are	be	AUX
fsr-3927	232	10	jointly	jointly	ADV
fsr-3927	232	11	zero	zero	NUM
fsr-3927	232	12	easily	easily	ADV
fsr-3927	232	13	rejects	reject	VERB
fsr-3927	232	14	for	for	ADP
fsr-3927	232	15	all	all	DET
fsr-3927	232	16	three	three	NUM
fsr-3927	232	17	event	event	NOUN
fsr-3927	232	18	windows	window	NOUN
fsr-3927	232	19	.	.	PUNCT
fsr-3927	233	1	this	this	PRON
fsr-3927	233	2	occurs	occur	VERB
fsr-3927	233	3	because	because	SCONJ
fsr-3927	233	4	some	some	PRON
fsr-3927	233	5	of	of	ADP
fsr-3927	233	6	the	the	DET
fsr-3927	233	7	volume	volume	NOUN
fsr-3927	233	8	changes	change	NOUN
fsr-3927	233	9	are	be	AUX
fsr-3927	233	10	positive	positive	ADJ
fsr-3927	233	11	,	,	PUNCT
fsr-3927	233	12	some	some	PRON
fsr-3927	233	13	are	be	AUX
fsr-3927	233	14	negative	negative	ADJ
fsr-3927	233	15	,	,	PUNCT
fsr-3927	233	16	but	but	CCONJ
fsr-3927	233	17	the	the	DET
fsr-3927	233	18	average	average	ADJ
fsr-3927	233	19	change	change	NOUN
fsr-3927	233	20	is	be	AUX
fsr-3927	233	21	not	not	PART
fsr-3927	233	22	significant	significant	ADJ
fsr-3927	233	23	.	.	PUNCT
fsr-3927	234	1	overall	overall	ADV
fsr-3927	234	2	,	,	PUNCT
fsr-3927	234	3	these	these	DET
fsr-3927	234	4	results	result	NOUN
fsr-3927	234	5	suggest	suggest	VERB
fsr-3927	234	6	a	a	DET
fsr-3927	234	7	negligible	negligible	ADJ
fsr-3927	234	8	impact	impact	NOUN
fsr-3927	234	9	on	on	ADP
fsr-3927	234	10	trading	trading	NOUN
fsr-3927	234	11	volume	volume	NOUN
fsr-3927	234	12	for	for	ADP
fsr-3927	234	13	funds	fund	NOUN
fsr-3927	234	14	with	with	ADP
fsr-3927	234	15	no	no	DET
fsr-3927	234	16	corresponding	correspond	VERB
fsr-3927	234	17	webs	webs	NOUN
fsr-3927	234	18	.	.	PUNCT
fsr-3927	235	1	as	as	ADP
fsr-3927	235	2	with	with	ADP
fsr-3927	235	3	discounts	discount	NOUN
fsr-3927	235	4	,	,	PUNCT
fsr-3927	235	5	we	we	PRON
fsr-3927	235	6	next	next	ADV
fsr-3927	235	7	examine	examine	VERB
fsr-3927	235	8	the	the	DET
fsr-3927	235	9	differential	differential	ADJ
fsr-3927	235	10	impact	impact	NOUN
fsr-3927	235	11	on	on	ADP
fsr-3927	235	12	each	each	DET
fsr-3927	235	13	group	group	NOUN
fsr-3927	235	14	’s	’s	PART
fsr-3927	235	15	trading	trading	NOUN
fsr-3927	235	16	volume	volume	NOUN
fsr-3927	235	17	.	.	PUNCT
fsr-3927	236	1	table	table	NOUN
fsr-3927	236	2	5	5	NUM
fsr-3927	236	3	presents	present	VERB
fsr-3927	236	4	the	the	DET
fsr-3927	236	5	results	result	NOUN
fsr-3927	236	6	of	of	ADP
fsr-3927	236	7	the	the	DET
fsr-3927	236	8	two	two	NUM
fsr-3927	236	9	factor	factor	NOUN
fsr-3927	236	10	test	test	NOUN
fsr-3927	236	11	on	on	ADP
fsr-3927	236	12	volume	volume	NOUN
fsr-3927	236	13	data	datum	NOUN
fsr-3927	236	14	.	.	PUNCT
fsr-3927	237	1	panel	panel	NOUN
fsr-3927	237	2	b	b	PROPN
fsr-3927	237	3	contains	contain	VERB
fsr-3927	237	4	the	the	DET
fsr-3927	237	5	results	result	NOUN
fsr-3927	237	6	of	of	ADP
fsr-3927	237	7	the	the	DET
fsr-3927	237	8	three	three	NUM
fsr-3927	237	9	hypothesis	hypothesis	NOUN
fsr-3927	237	10	tests	test	NOUN
fsr-3927	237	11	.	.	PUNCT
fsr-3927	238	1	for	for	ADP
fsr-3927	238	2	the	the	DET
fsr-3927	238	3	13	13	NUM
fsr-3927	238	4	-	-	PUNCT
fsr-3927	238	5	week	week	NOUN
fsr-3927	238	6	post	post	NOUN
fsr-3927	238	7	event	event	NOUN
fsr-3927	238	8	window	window	NOUN
fsr-3927	238	9	the	the	DET
fsr-3927	238	10	average	average	ADJ
fsr-3927	238	11	daily	daily	ADJ
fsr-3927	238	12	trading	trading	NOUN
fsr-3927	238	13	volume	volume	NOUN
fsr-3927	238	14	for	for	ADP
fsr-3927	238	15	funds	fund	NOUN
fsr-3927	238	16	with	with	ADP
fsr-3927	238	17	a	a	DET
fsr-3927	238	18	corresponding	correspond	VERB
fsr-3927	238	19	webs	webs	NOUN
fsr-3927	238	20	index	index	NOUN
fsr-3927	238	21	decreases	decrease	NOUN
fsr-3927	238	22	by	by	ADP
fsr-3927	238	23	14,340	14,340	NUM
fsr-3927	238	24	shares	share	NOUN
fsr-3927	238	25	,	,	PUNCT
fsr-3927	238	26	which	which	PRON
fsr-3927	238	27	is	be	AUX
fsr-3927	238	28	significant	significant	ADJ
fsr-3927	238	29	at	at	ADP
fsr-3927	238	30	the	the	DET
fsr-3927	238	31	5	5	NUM
fsr-3927	238	32	%	%	NOUN
fsr-3927	238	33	level	level	NOUN
fsr-3927	238	34	.	.	PUNCT
fsr-3927	239	1	in	in	ADP
fsr-3927	239	2	contrast	contrast	NOUN
fsr-3927	239	3	,	,	PUNCT
fsr-3927	239	4	funds	fund	NOUN
fsr-3927	239	5	with	with	ADP
fsr-3927	239	6	no	no	DET
fsr-3927	239	7	corresponding	correspond	VERB
fsr-3927	239	8	webs	webs	NOUN
fsr-3927	239	9	index	index	NOUN
fsr-3927	239	10	show	show	NOUN
fsr-3927	239	11	on	on	ADP
fsr-3927	239	12	average	average	ADJ
fsr-3927	239	13	an	an	DET
fsr-3927	239	14	insignificant	insignificant	ADJ
fsr-3927	239	15	increase	increase	NOUN
fsr-3927	239	16	in	in	ADP
fsr-3927	239	17	volume	volume	NOUN
fsr-3927	239	18	of	of	ADP
fsr-3927	239	19	252	252	NUM
fsr-3927	239	20	shares	share	NOUN
fsr-3927	239	21	.	.	PUNCT
fsr-3927	240	1	however	however	ADV
fsr-3927	240	2	,	,	PUNCT
fsr-3927	240	3	the	the	DET
fsr-3927	240	4	differential	differential	ADJ
fsr-3927	240	5	270	270	NUM
fsr-3927	240	6	m.	m.	NOUN
fsr-3927	240	7	o’connor	o’connor	ADV
fsr-3927	240	8	,	,	PUNCT
fsr-3927	240	9	e.a	e.a	PROPN
fsr-3927	240	10	.	.	PROPN
fsr-3927	240	11	downe	downe	PROPN
fsr-3927	240	12	/	/	SYM
fsr-3927	240	13	financial	financial	ADJ
fsr-3927	240	14	services	service	NOUN
fsr-3927	240	15	review	review	VERB
fsr-3927	240	16	9	9	NUM
fsr-3927	240	17	(	(	PUNCT
fsr-3927	240	18	2000	2000	NUM
fsr-3927	240	19	)	)	PUNCT
fsr-3927	241	1	259–275	259–275	NUM
fsr-3927	241	2	short	short	ADJ
fsr-3927	241	3	-	-	PUNCT
fsr-3927	241	4	term	term	NOUN
fsr-3927	241	5	volume	volume	NOUN
fsr-3927	241	6	impact	impact	NOUN
fsr-3927	241	7	is	be	AUX
fsr-3927	241	8	not	not	PART
fsr-3927	241	9	significant	significant	ADJ
fsr-3927	241	10	.	.	PUNCT
fsr-3927	242	1	by	by	ADP
fsr-3927	242	2	the	the	DET
fsr-3927	242	3	end	end	NOUN
fsr-3927	242	4	of	of	ADP
fsr-3927	242	5	the	the	DET
fsr-3927	242	6	26	26	NUM
fsr-3927	242	7	-	-	PUNCT
fsr-3927	242	8	week	week	NOUN
fsr-3927	242	9	window	window	NOUN
fsr-3927	242	10	,	,	PUNCT
fsr-3927	242	11	the	the	DET
fsr-3927	242	12	relative	relative	ADJ
fsr-3927	242	13	decrease	decrease	NOUN
fsr-3927	242	14	in	in	ADP
fsr-3927	242	15	volume	volume	NOUN
fsr-3927	242	16	for	for	ADP
fsr-3927	242	17	funds	fund	NOUN
fsr-3927	242	18	with	with	ADP
fsr-3927	242	19	a	a	DET
fsr-3927	242	20	corresponding	corresponding	ADJ
fsr-3927	242	21	webs	webs	NOUN
fsr-3927	242	22	index	index	NOUN
fsr-3927	242	23	is	be	AUX
fsr-3927	242	24	significant	significant	ADJ
fsr-3927	242	25	,	,	PUNCT
fsr-3927	242	26	and	and	CCONJ
fsr-3927	242	27	this	this	DET
fsr-3927	242	28	result	result	NOUN
fsr-3927	242	29	persists	persist	VERB
fsr-3927	242	30	into	into	ADP
fsr-3927	242	31	the	the	DET
fsr-3927	242	32	52	52	NUM
fsr-3927	242	33	-	-	PUNCT
fsr-3927	242	34	week	week	NOUN
fsr-3927	242	35	window	window	NOUN
fsr-3927	242	36	.	.	PUNCT
fsr-3927	243	1	these	these	DET
fsr-3927	243	2	results	result	NOUN
fsr-3927	243	3	corroborate	corroborate	VERB
fsr-3927	243	4	a	a	DET
fsr-3927	243	5	slowly	slowly	ADV
fsr-3927	243	6	emerging	emerge	VERB
fsr-3927	243	7	decrease	decrease	NOUN
fsr-3927	243	8	in	in	ADP
fsr-3927	243	9	demand	demand	NOUN
fsr-3927	243	10	for	for	ADP
fsr-3927	243	11	cecfs	cecfs	NOUN
fsr-3927	243	12	with	with	ADP
fsr-3927	243	13	a	a	DET
fsr-3927	243	14	corresponding	corresponding	ADJ
fsr-3927	243	15	webs	webs	NOUN
fsr-3927	243	16	index	index	NOUN
fsr-3927	243	17	.	.	PUNCT
fsr-3927	244	1	this	this	PRON
fsr-3927	244	2	provides	provide	VERB
fsr-3927	244	3	indirect	indirect	ADJ
fsr-3927	244	4	evidence	evidence	NOUN
fsr-3927	244	5	of	of	ADP
fsr-3927	244	6	investor	investor	NOUN
fsr-3927	244	7	migration	migration	NOUN
fsr-3927	244	8	to	to	ADP
fsr-3927	244	9	the	the	DET
fsr-3927	244	10	lower	low	ADJ
fsr-3927	244	11	fee	fee	NOUN
fsr-3927	244	12	webs	webs	NOUN
fsr-3927	244	13	indexes	index	NOUN
fsr-3927	244	14	,	,	PUNCT
fsr-3927	244	15	which	which	PRON
fsr-3927	244	16	is	be	AUX
fsr-3927	244	17	consistent	consistent	ADJ
fsr-3927	244	18	with	with	ADP
fsr-3927	244	19	an	an	DET
fsr-3927	244	20	agency	agency	NOUN
fsr-3927	244	21	cost	cost	NOUN
fsr-3927	244	22	explanation	explanation	NOUN
fsr-3927	244	23	of	of	ADP
fsr-3927	244	24	closed	close	VERB
fsr-3927	244	25	-	-	PUNCT
fsr-3927	244	26	end	end	NOUN
fsr-3927	244	27	fund	fund	NOUN
fsr-3927	244	28	discounts	discount	NOUN
fsr-3927	244	29	.	.	PUNCT
fsr-3927	245	1	however	however	ADV
fsr-3927	245	2	,	,	PUNCT
fsr-3927	245	3	since	since	SCONJ
fsr-3927	245	4	the	the	DET
fsr-3927	245	5	tests	test	NOUN
fsr-3927	245	6	on	on	ADP
fsr-3927	245	7	percentage	percentage	NOUN
fsr-3927	245	8	discounts	discount	NOUN
fsr-3927	245	9	show	show	VERB
fsr-3927	245	10	a	a	DET
fsr-3927	245	11	more	more	ADV
fsr-3927	245	12	immediate	immediate	ADJ
fsr-3927	245	13	and	and	CCONJ
fsr-3927	245	14	wide	wide	ADV
fsr-3927	245	15	-	-	PUNCT
fsr-3927	245	16	spread	spread	NOUN
fsr-3927	245	17	impact	impact	NOUN
fsr-3927	245	18	,	,	PUNCT
fsr-3927	245	19	we	we	PRON
fsr-3927	245	20	can	can	AUX
fsr-3927	245	21	not	not	PART
fsr-3927	245	22	rule	rule	VERB
fsr-3927	245	23	out	out	ADP
fsr-3927	245	24	a	a	DET
fsr-3927	245	25	market	market	NOUN
fsr-3927	245	26	segmentation	segmentation	NOUN
fsr-3927	245	27	effect	effect	NOUN
fsr-3927	245	28	.	.	PUNCT
fsr-3927	246	1	5	5	X
fsr-3927	246	2	.	.	X
fsr-3927	246	3	summary	summary	VERB
fsr-3927	246	4	this	this	DET
fsr-3927	246	5	paper	paper	NOUN
fsr-3927	246	6	examines	examine	VERB
fsr-3927	246	7	the	the	DET
fsr-3927	246	8	impact	impact	NOUN
fsr-3927	246	9	of	of	ADP
fsr-3927	246	10	country	country	NOUN
fsr-3927	246	11	specific	specific	ADJ
fsr-3927	246	12	index	index	NOUN
fsr-3927	246	13	trading	trading	NOUN
fsr-3927	246	14	on	on	ADP
fsr-3927	246	15	closed	close	VERB
fsr-3927	246	16	-	-	PUNCT
fsr-3927	246	17	end	end	NOUN
fsr-3927	246	18	country	country	NOUN
fsr-3927	246	19	fund	fund	NOUN
fsr-3927	246	20	discounts	discount	NOUN
fsr-3927	246	21	.	.	PUNCT
fsr-3927	247	1	cecfs	cecfs	PROPN
fsr-3927	247	2	provide	provide	VERB
fsr-3927	247	3	individual	individual	ADJ
fsr-3927	247	4	investors	investor	NOUN
fsr-3927	247	5	with	with	ADP
fsr-3927	247	6	diversified	diversified	ADJ
fsr-3927	247	7	,	,	PUNCT
fsr-3927	247	8	country	country	NOUN
fsr-3927	247	9	specific	specific	ADJ
fsr-3927	247	10	,	,	PUNCT
fsr-3927	247	11	foreign	foreign	ADJ
fsr-3927	247	12	investments	investment	NOUN
fsr-3927	247	13	.	.	PUNCT
fsr-3927	248	1	however	however	ADV
fsr-3927	248	2	,	,	PUNCT
fsr-3927	248	3	like	like	ADP
fsr-3927	248	4	all	all	DET
fsr-3927	248	5	closed	closed	ADJ
fsr-3927	248	6	-	-	PUNCT
fsr-3927	248	7	end	end	NOUN
fsr-3927	248	8	funds	fund	NOUN
fsr-3927	248	9	,	,	PUNCT
fsr-3927	248	10	they	they	PRON
fsr-3927	248	11	often	often	ADV
fsr-3927	248	12	trade	trade	VERB
fsr-3927	248	13	at	at	ADP
fsr-3927	248	14	a	a	DET
fsr-3927	248	15	discount	discount	NOUN
fsr-3927	248	16	table	table	NOUN
fsr-3927	248	17	3	3	NUM
fsr-3927	248	18	two	two	NUM
fsr-3927	248	19	factor	factor	NOUN
fsr-3927	248	20	difference	difference	NOUN
fsr-3927	248	21	in	in	ADP
fsr-3927	248	22	means	mean	NOUN
fsr-3927	248	23	test	test	NOUN
fsr-3927	248	24	(	(	PUNCT
fsr-3927	248	25	dependent	dependent	ADJ
fsr-3927	248	26	variable5	variable5	PRON
fsr-3927	248	27	percentage	percentage	NOUN
fsr-3927	248	28	discount	discount	NOUN
fsr-3927	248	29	)	)	PUNCT
fsr-3927	248	30	post	post	ADJ
fsr-3927	248	31	-	-	ADJ
fsr-3927	248	32	event	event	ADJ
fsr-3927	248	33	window	window	NOUN
fsr-3927	248	34	of	of	ADP
fsr-3927	248	35	:	:	PUNCT
fsr-3927	248	36	13	13	NUM
fsr-3927	248	37	weeks	week	NOUN
fsr-3927	248	38	26	26	NUM
fsr-3927	248	39	weeks	week	NOUN
fsr-3927	248	40	52	52	NUM
fsr-3927	248	41	weeks	week	NOUN
fsr-3927	248	42	panel	panel	NOUN
fsr-3927	248	43	a	a	DET
fsr-3927	248	44	:	:	PUNCT
fsr-3927	248	45	parameter	parameter	NOUN
fsr-3927	248	46	estimates	estimate	VERB
fsr-3927	248	47	m	m	VERB
fsr-3927	248	48	7.2	7.2	NUM
fsr-3927	248	49	%	%	NOUN
fsr-3927	248	50	*	*	PUNCT
fsr-3927	248	51	*	*	PROPN
fsr-3927	248	52	7.9	7.9	NUM
fsr-3927	248	53	%	%	NOUN
fsr-3927	248	54	*	*	PUNCT
fsr-3927	248	55	*	*	NOUN
fsr-3927	248	56	8.0	8.0	NUM
fsr-3927	248	57	%	%	NOUN
fsr-3927	248	58	*	*	PUNCT
fsr-3927	248	59	*	*	PUNCT
fsr-3927	248	60	a	a	DET
fsr-3927	248	61	2.2	2.2	NUM
fsr-3927	248	62	%	%	NOUN
fsr-3927	248	63	*	*	PUNCT
fsr-3927	248	64	*	*	PROPN
fsr-3927	248	65	2.9	2.9	NUM
fsr-3927	248	66	%	%	NOUN
fsr-3927	248	67	*	*	PUNCT
fsr-3927	248	68	*	*	PROPN
fsr-3927	248	69	3.0	3.0	NUM
fsr-3927	248	70	%	%	NOUN
fsr-3927	248	71	*	*	PUNCT
fsr-3927	248	72	*	*	PUNCT
fsr-3927	248	73	g	g	ADP
fsr-3927	248	74	23.7	23.7	NUM
fsr-3927	248	75	%	%	NOUN
fsr-3927	248	76	*	*	PUNCT
fsr-3927	248	77	*	*	PROPN
fsr-3927	248	78	23.5	23.5	NUM
fsr-3927	248	79	%	%	NOUN
fsr-3927	248	80	*	*	PUNCT
fsr-3927	248	81	*	*	PROPN
fsr-3927	248	82	23.4	23.4	NUM
fsr-3927	248	83	%	%	NOUN
fsr-3927	248	84	*	*	PUNCT
fsr-3927	248	85	*	*	PUNCT
fsr-3927	248	86	u	u	NOUN
fsr-3927	248	87	21.2	21.2	NUM
fsr-3927	248	88	%	%	NOUN
fsr-3927	248	89	*	*	PUNCT
fsr-3927	248	90	*	*	PROPN
fsr-3927	248	91	21.0	21.0	NUM
fsr-3927	248	92	%	%	NOUN
fsr-3927	248	93	*	*	PUNCT
fsr-3927	248	94	*	*	PROPN
fsr-3927	248	95	20.9	20.9	NUM
fsr-3927	248	96	%	%	NOUN
fsr-3927	248	97	*	*	PUNCT
fsr-3927	248	98	*	*	PROPN
fsr-3927	248	99	panel	panel	PROPN
fsr-3927	248	100	b	b	NOUN
fsr-3927	248	101	:	:	PUNCT
fsr-3927	248	102	hypotheses	hypothesis	NOUN
fsr-3927	248	103	test	test	NOUN
fsr-3927	248	104	results	result	NOUN
fsr-3927	248	105	ho	ho	PROPN
fsr-3927	248	106	(	(	PUNCT
fsr-3927	248	107	m21	m21	PROPN
fsr-3927	248	108	2	2	NUM
fsr-3927	248	109	m11	m11	NOUN
fsr-3927	248	110	)	)	PUNCT
fsr-3927	248	111	5	5	NUM
fsr-3927	248	112	0	0	NUM
fsr-3927	248	113	6.8	6.8	NUM
fsr-3927	248	114	%	%	NOUN
fsr-3927	248	115	*	*	PUNCT
fsr-3927	248	116	*	*	PROPN
fsr-3927	248	117	7.7	7.7	NUM
fsr-3927	248	118	%	%	NOUN
fsr-3927	248	119	*	*	PUNCT
fsr-3927	248	120	*	*	PUNCT
fsr-3927	248	121	7.6	7.6	NUM
fsr-3927	248	122	%	%	NOUN
fsr-3927	248	123	*	*	PUNCT
fsr-3927	248	124	*	*	PUNCT
fsr-3927	248	125	(	(	PUNCT
fsr-3927	248	126	m22	m22	PROPN
fsr-3927	248	127	2	2	NUM
fsr-3927	248	128	m12	m12	PROPN
fsr-3927	248	129	)	)	PUNCT
fsr-3927	248	130	5	5	NUM
fsr-3927	248	131	0	0	NUM
fsr-3927	248	132	2.1	2.1	NUM
fsr-3927	248	133	%	%	NOUN
fsr-3927	248	134	*	*	PUNCT
fsr-3927	248	135	*	*	NOUN
fsr-3927	248	136	3.7	3.7	NUM
fsr-3927	248	137	%	%	NOUN
fsr-3927	248	138	*	*	PUNCT
fsr-3927	248	139	*	*	NOUN
fsr-3927	248	140	4.2	4.2	NUM
fsr-3927	248	141	%	%	NOUN
fsr-3927	248	142	*	*	PUNCT
fsr-3927	248	143	*	*	PUNCT
fsr-3927	248	144	(	(	PUNCT
fsr-3927	248	145	m21	m21	X
fsr-3927	248	146	2	2	NUM
fsr-3927	248	147	m11	m11	NOUN
fsr-3927	248	148	)	)	PUNCT
fsr-3927	248	149	2	2	NUM
fsr-3927	248	150	(	(	PUNCT
fsr-3927	248	151	m22	m22	PROPN
fsr-3927	248	152	2	2	NUM
fsr-3927	248	153	m12	m12	PROPN
fsr-3927	248	154	)	)	PUNCT
fsr-3927	248	155	5	5	NUM
fsr-3927	248	156	0	0	NUM
fsr-3927	248	157	4.7	4.7	NUM
fsr-3927	248	158	%	%	NOUN
fsr-3927	248	159	*	*	PUNCT
fsr-3927	248	160	*	*	PROPN
fsr-3927	248	161	4.0	4.0	NUM
fsr-3927	248	162	%	%	NOUN
fsr-3927	248	163	*	*	PUNCT
fsr-3927	248	164	*	*	X
fsr-3927	248	165	3.4	3.4	NUM
fsr-3927	248	166	%	%	NOUN
fsr-3927	248	167	*	*	PUNCT
fsr-3927	248	168	*	*	PUNCT
fsr-3927	248	169	*	*	PUNCT
fsr-3927	248	170	significant	significant	ADJ
fsr-3927	248	171	at	at	ADP
fsr-3927	248	172	5	5	NUM
fsr-3927	248	173	%	%	NOUN
fsr-3927	248	174	;	;	PUNCT
fsr-3927	248	175	*	*	PUNCT
fsr-3927	248	176	*	*	PUNCT
fsr-3927	248	177	significant	significant	ADJ
fsr-3927	248	178	at	at	ADP
fsr-3927	248	179	1	1	NUM
fsr-3927	248	180	%	%	NOUN
fsr-3927	248	181	.	.	PUNCT
fsr-3927	249	1	results	result	NOUN
fsr-3927	249	2	are	be	AUX
fsr-3927	249	3	from	from	ADP
fsr-3927	249	4	a	a	DET
fsr-3927	249	5	pooled	pooled	ADJ
fsr-3927	249	6	regression	regression	NOUN
fsr-3927	249	7	of	of	ADP
fsr-3927	249	8	percentage	percentage	NOUN
fsr-3927	249	9	discounts	discount	NOUN
fsr-3927	249	10	against	against	ADP
fsr-3927	249	11	three	three	NUM
fsr-3927	249	12	dummy	dummy	ADJ
fsr-3927	249	13	variables	variable	NOUN
fsr-3927	249	14	.	.	PUNCT
fsr-3927	250	1	letting	let	VERB
fsr-3927	250	2	y	y	PRON
fsr-3927	250	3	be	be	AUX
fsr-3927	250	4	a	a	DET
fsr-3927	250	5	percentage	percentage	NOUN
fsr-3927	250	6	discount	discount	NOUN
fsr-3927	250	7	,	,	PUNCT
fsr-3927	250	8	the	the	DET
fsr-3927	250	9	regression	regression	NOUN
fsr-3927	250	10	model	model	NOUN
fsr-3927	250	11	is	be	AUX
fsr-3927	250	12	y5	y5	PROPN
fsr-3927	250	13	m	m	ADJ
fsr-3927	250	14	1	1	NUM
fsr-3927	250	15	ad1	ad1	PROPN
fsr-3927	250	16	1	1	NUM
fsr-3927	250	17	gd2	gd2	NOUN
fsr-3927	250	18	1	1	NUM
fsr-3927	250	19	qd1d2	qd1d2	PROPN
fsr-3927	250	20	1	1	NUM
fsr-3927	250	21	«	«	PUNCT
fsr-3927	250	22	,	,	PUNCT
fsr-3927	250	23	where	where	SCONJ
fsr-3927	250	24	:	:	PUNCT
fsr-3927	250	25	d1	d1	PROPN
fsr-3927	250	26	5	5	NUM
fsr-3927	250	27	h1	h1	NOUN
fsr-3927	250	28	if	if	SCONJ
fsr-3927	250	29	the	the	DET
fsr-3927	250	30	observation	observation	NOUN
fsr-3927	250	31	is	be	AUX
fsr-3927	250	32	in	in	ADP
fsr-3927	250	33	the	the	DET
fsr-3927	250	34	pre	pre	ADJ
fsr-3927	250	35	-	-	ADJ
fsr-3927	250	36	event	event	ADJ
fsr-3927	250	37	estimation	estimation	NOUN
fsr-3927	250	38	window	window	NOUN
fsr-3927	250	39	21	21	NUM
fsr-3927	250	40	if	if	SCONJ
fsr-3927	250	41	the	the	DET
fsr-3927	250	42	observation	observation	NOUN
fsr-3927	250	43	is	be	AUX
fsr-3927	250	44	in	in	ADP
fsr-3927	250	45	the	the	DET
fsr-3927	250	46	post	post	ADJ
fsr-3927	250	47	-	-	ADJ
fsr-3927	250	48	event	event	ADJ
fsr-3927	250	49	window	window	NOUN
fsr-3927	250	50	and	and	CCONJ
fsr-3927	250	51	d2	d2	PROPN
fsr-3927	250	52	5	5	NUM
fsr-3927	250	53	h1	h1	NOUN
fsr-3927	250	54	if	if	SCONJ
fsr-3927	250	55	the	the	DET
fsr-3927	250	56	observation	observation	NOUN
fsr-3927	250	57	is	be	AUX
fsr-3927	250	58	from	from	ADP
fsr-3927	250	59	a	a	DET
fsr-3927	250	60	fund	fund	NOUN
fsr-3927	250	61	with	with	ADP
fsr-3927	250	62	a	a	DET
fsr-3927	250	63	corresonding	corresonding	NOUN
fsr-3927	250	64	webs	webs	NOUN
fsr-3927	250	65	index	index	NOUN
fsr-3927	250	66	21	21	NUM
fsr-3927	250	67	if	if	SCONJ
fsr-3927	250	68	the	the	DET
fsr-3927	250	69	observation	observation	NOUN
fsr-3927	250	70	is	be	AUX
fsr-3927	250	71	from	from	ADP
fsr-3927	250	72	a	a	DET
fsr-3927	250	73	fund	fund	NOUN
fsr-3927	250	74	with	with	ADP
fsr-3927	250	75	no	no	DET
fsr-3927	250	76	corresponding	correspond	VERB
fsr-3927	250	77	webs	webs	NOUN
fsr-3927	250	78	index	index	NOUN
fsr-3927	250	79	the	the	DET
fsr-3927	250	80	parameterm	parameterm	NOUN
fsr-3927	250	81	is	be	AUX
fsr-3927	250	82	the	the	DET
fsr-3927	250	83	average	average	ADJ
fsr-3927	250	84	percentage	percentage	NOUN
fsr-3927	250	85	discount	discount	NOUN
fsr-3927	250	86	for	for	ADP
fsr-3927	250	87	all	all	DET
fsr-3927	250	88	funds	fund	NOUN
fsr-3927	250	89	,	,	PUNCT
fsr-3927	250	90	a	a	DET
fsr-3927	250	91	measures	measure	NOUN
fsr-3927	250	92	the	the	DET
fsr-3927	250	93	effect	effect	NOUN
fsr-3927	250	94	due	due	ADP
fsr-3927	250	95	to	to	ADP
fsr-3927	250	96	the	the	DET
fsr-3927	250	97	time	time	NOUN
fsr-3927	250	98	factor	factor	NOUN
fsr-3927	250	99	,	,	PUNCT
fsr-3927	250	100	g	g	NOUN
fsr-3927	250	101	measures	measure	VERB
fsr-3927	250	102	the	the	DET
fsr-3927	250	103	effect	effect	NOUN
fsr-3927	250	104	due	due	ADP
fsr-3927	250	105	to	to	ADP
fsr-3927	250	106	fund	fund	NOUN
fsr-3927	250	107	type	type	NOUN
fsr-3927	250	108	,	,	PUNCT
fsr-3927	250	109	andq	andq	PROPN
fsr-3927	250	110	measures	measure	VERB
fsr-3927	250	111	the	the	DET
fsr-3927	250	112	interaction	interaction	NOUN
fsr-3927	250	113	effect	effect	NOUN
fsr-3927	250	114	between	between	ADP
fsr-3927	250	115	the	the	DET
fsr-3927	250	116	two	two	NUM
fsr-3927	250	117	factors	factor	NOUN
fsr-3927	250	118	.	.	PUNCT
fsr-3927	251	1	let	let	VERB
fsr-3927	251	2	the	the	DET
fsr-3927	251	3	subscript	subscript	NOUN
fsr-3927	251	4	i	i	PRON
fsr-3927	251	5	equal	equal	VERB
fsr-3927	251	6	one	one	NUM
fsr-3927	251	7	for	for	ADP
fsr-3927	251	8	a	a	DET
fsr-3927	251	9	pre	pre	ADJ
fsr-3927	251	10	-	-	ADJ
fsr-3927	251	11	event	event	ADJ
fsr-3927	251	12	observation	observation	NOUN
fsr-3927	251	13	and	and	CCONJ
fsr-3927	251	14	two	two	NUM
fsr-3927	251	15	otherwise	otherwise	ADV
fsr-3927	251	16	.	.	PUNCT
fsr-3927	252	1	let	let	VERB
fsr-3927	252	2	the	the	DET
fsr-3927	252	3	subscript	subscript	NOUN
fsr-3927	252	4	k	k	PROPN
fsr-3927	252	5	equal	equal	ADJ
fsr-3927	252	6	one	one	NUM
fsr-3927	252	7	for	for	ADP
fsr-3927	252	8	an	an	DET
fsr-3927	252	9	observation	observation	NOUN
fsr-3927	252	10	from	from	ADP
fsr-3927	252	11	a	a	DET
fsr-3927	252	12	fund	fund	NOUN
fsr-3927	252	13	with	with	ADP
fsr-3927	252	14	a	a	DET
fsr-3927	252	15	corresponding	corresponding	ADJ
fsr-3927	252	16	webs	webs	NOUN
fsr-3927	252	17	index	index	NOUN
fsr-3927	252	18	and	and	CCONJ
fsr-3927	252	19	two	two	NUM
fsr-3927	252	20	otherwise	otherwise	ADV
fsr-3927	252	21	.	.	PUNCT
fsr-3927	253	1	then	then	ADV
fsr-3927	253	2	the	the	DET
fsr-3927	253	3	mean	mean	ADJ
fsr-3927	253	4	percentage	percentage	NOUN
fsr-3927	253	5	discount	discount	NOUN
fsr-3927	253	6	(	(	PUNCT
fsr-3927	253	7	mik	mik	PROPN
fsr-3927	253	8	)	)	PUNCT
fsr-3927	253	9	for	for	ADP
fsr-3927	253	10	each	each	DET
fsr-3927	253	11	level	level	NOUN
fsr-3927	253	12	of	of	ADP
fsr-3927	253	13	each	each	DET
fsr-3927	253	14	factor	factor	NOUN
fsr-3927	253	15	is	be	AUX
fsr-3927	253	16	recoverable	recoverable	ADJ
fsr-3927	253	17	from	from	ADP
fsr-3927	253	18	the	the	DET
fsr-3927	253	19	regression	regression	NOUN
fsr-3927	253	20	model	model	NOUN
fsr-3927	253	21	.	.	PUNCT
fsr-3927	254	1	271	271	NUM
fsr-3927	254	2	m.	m.	NOUN
fsr-3927	254	3	o’connor	o’connor	ADV
fsr-3927	254	4	,	,	PUNCT
fsr-3927	254	5	e.a	e.a	PROPN
fsr-3927	254	6	.	.	PROPN
fsr-3927	254	7	downe	downe	PROPN
fsr-3927	254	8	/	/	SYM
fsr-3927	254	9	financial	financial	ADJ
fsr-3927	254	10	services	service	NOUN
fsr-3927	254	11	review	review	VERB
fsr-3927	254	12	9	9	NUM
fsr-3927	254	13	(	(	PUNCT
fsr-3927	254	14	2000	2000	NUM
fsr-3927	254	15	)	)	PUNCT
fsr-3927	255	1	259–275	259–275	NUM
fsr-3927	255	2	to	to	ADP
fsr-3927	255	3	nav	nav	PROPN
fsr-3927	255	4	,	,	PUNCT
fsr-3927	255	5	which	which	PRON
fsr-3927	255	6	may	may	AUX
fsr-3927	255	7	be	be	AUX
fsr-3927	255	8	a	a	DET
fsr-3927	255	9	concern	concern	NOUN
fsr-3927	255	10	to	to	ADP
fsr-3927	255	11	individual	individual	ADJ
fsr-3927	255	12	investors	investor	NOUN
fsr-3927	255	13	.	.	PUNCT
fsr-3927	256	1	country	country	NOUN
fsr-3927	256	2	specific	specific	ADJ
fsr-3927	256	3	indexes	index	NOUN
fsr-3927	256	4	such	such	ADJ
fsr-3927	256	5	as	as	ADP
fsr-3927	256	6	webs	webs	NOUN
fsr-3927	256	7	provide	provide	VERB
fsr-3927	256	8	similar	similar	ADJ
fsr-3927	256	9	international	international	ADJ
fsr-3927	256	10	diversification	diversification	NOUN
fsr-3927	256	11	benefits	benefit	NOUN
fsr-3927	256	12	without	without	ADP
fsr-3927	256	13	the	the	DET
fsr-3927	256	14	concern	concern	NOUN
fsr-3927	256	15	over	over	ADP
fsr-3927	256	16	discounts	discount	NOUN
fsr-3927	256	17	.	.	PUNCT
fsr-3927	257	1	explanations	explanation	NOUN
fsr-3927	257	2	of	of	ADP
fsr-3927	257	3	discounts	discount	NOUN
fsr-3927	257	4	fall	fall	VERB
fsr-3927	257	5	into	into	ADP
fsr-3927	257	6	two	two	NUM
fsr-3927	257	7	categories	category	NOUN
fsr-3927	257	8	:	:	PUNCT
fsr-3927	257	9	behavioral	behavioral	ADJ
fsr-3927	257	10	and	and	CCONJ
fsr-3927	257	11	rational	rational	ADJ
fsr-3927	257	12	economic	economic	ADJ
fsr-3927	257	13	explanations	explanation	NOUN
fsr-3927	257	14	.	.	PUNCT
fsr-3927	258	1	behavioral	behavioral	ADJ
fsr-3927	258	2	modes	mode	NOUN
fsr-3927	258	3	suggest	suggest	VERB
fsr-3927	258	4	either	either	CCONJ
fsr-3927	258	5	no	no	DET
fsr-3927	258	6	reaction	reaction	NOUN
fsr-3927	258	7	or	or	CCONJ
fsr-3927	258	8	an	an	DET
fsr-3927	258	9	overreaction	overreaction	NOUN
fsr-3927	258	10	from	from	ADP
fsr-3927	258	11	investors	investor	NOUN
fsr-3927	258	12	in	in	ADP
fsr-3927	258	13	response	response	NOUN
fsr-3927	258	14	to	to	ADP
fsr-3927	258	15	the	the	DET
fsr-3927	258	16	introduction	introduction	NOUN
fsr-3927	258	17	of	of	ADP
fsr-3927	258	18	webs	webs	NOUN
fsr-3927	258	19	.	.	PUNCT
fsr-3927	259	1	rational	rational	ADJ
fsr-3927	259	2	economic	economic	ADJ
fsr-3927	259	3	models	model	NOUN
fsr-3927	259	4	suggest	suggest	VERB
fsr-3927	259	5	table	table	NOUN
fsr-3927	259	6	4	4	NUM
fsr-3927	259	7	modified	modify	VERB
fsr-3927	259	8	event	event	NOUN
fsr-3927	259	9	study	study	NOUN
fsr-3927	259	10	results	result	NOUN
fsr-3927	259	11	(	(	PUNCT
fsr-3927	259	12	dependent	dependent	ADJ
fsr-3927	259	13	variable5	variable5	ADP
fsr-3927	259	14	average	average	ADJ
fsr-3927	259	15	daily	daily	ADJ
fsr-3927	259	16	volume	volume	NOUN
fsr-3927	259	17	)	)	PUNCT
fsr-3927	259	18	.	.	PUNCT
fsr-3927	260	1	fund	fund	NOUN
fsr-3927	260	2	number	number	NOUN
fsr-3927	260	3	fund	fund	NOUN
fsr-3927	260	4	name	name	NOUN
fsr-3927	260	5	intercept	intercept	NOUN
fsr-3927	260	6	b̂j	b̂j	NOUN
fsr-3927	260	7	for	for	ADP
fsr-3927	260	8	post	post	ADJ
fsr-3927	260	9	-	-	ADJ
fsr-3927	260	10	event	event	ADJ
fsr-3927	260	11	window	window	NOUN
fsr-3927	260	12	of	of	ADP
fsr-3927	260	13	:	:	PUNCT
fsr-3927	260	14	13	13	NUM
fsr-3927	260	15	-	-	PUNCT
fsr-3927	260	16	weeks	week	NOUN
fsr-3927	260	17	26	26	NUM
fsr-3927	260	18	-	-	PUNCT
fsr-3927	260	19	weeks	week	NOUN
fsr-3927	260	20	52	52	NUM
fsr-3927	260	21	-	-	PUNCT
fsr-3927	260	22	weeks	week	NOUN
fsr-3927	260	23	panel	panel	NOUN
fsr-3927	260	24	a	a	DET
fsr-3927	260	25	:	:	PUNCT
fsr-3927	260	26	funds	fund	NOUN
fsr-3927	260	27	with	with	ADP
fsr-3927	260	28	corresponding	corresponding	ADJ
fsr-3927	260	29	webs	webs	NOUN
fsr-3927	260	30	1	1	NUM
fsr-3927	260	31	austria	austria	PROPN
fsr-3927	260	32	fund	fund	NOUN
fsr-3927	260	33	23,821	23,821	NUM
fsr-3927	260	34	*	*	NOUN
fsr-3927	260	35	*	*	PUNCT
fsr-3927	260	36	211,336	211,336	NUM
fsr-3927	260	37	28,356	28,356	NUM
fsr-3927	260	38	23,925	23,925	NUM
fsr-3927	260	39	2	2	NUM
fsr-3927	260	40	first	first	ADJ
fsr-3927	260	41	australia	australia	PROPN
fsr-3927	260	42	fund	fund	NOUN
fsr-3927	260	43	47,950	47,950	NUM
fsr-3927	260	44	*	*	PUNCT
fsr-3927	260	45	*	*	X
fsr-3927	260	46	212,281	212,281	NUM
fsr-3927	260	47	215,152	215,152	NUM
fsr-3927	260	48	27,090	27,090	NUM
fsr-3927	260	49	3	3	NUM
fsr-3927	260	50	france	france	PROPN
fsr-3927	260	51	growth	growth	NOUN
fsr-3927	260	52	fund	fund	NOUN
fsr-3927	260	53	29,818	29,818	NUM
fsr-3927	260	54	*	*	PUNCT
fsr-3927	260	55	*	*	PUNCT
fsr-3927	260	56	27,688	27,688	NUM
fsr-3927	260	57	29,914	29,914	NUM
fsr-3927	260	58	22,313	22,313	NUM
fsr-3927	260	59	4	4	NUM
fsr-3927	260	60	germany	germany	PROPN
fsr-3927	260	61	fund	fund	NOUN
fsr-3927	260	62	47,193	47,193	NUM
fsr-3927	260	63	*	*	PUNCT
fsr-3927	260	64	*	*	PUNCT
fsr-3927	260	65	15,701	15,701	NUM
fsr-3927	260	66	219,359	219,359	NUM
fsr-3927	260	67	*	*	SYM
fsr-3927	260	68	26,464	26,464	NUM
fsr-3927	260	69	5	5	NUM
fsr-3927	260	70	italy	italy	PROPN
fsr-3927	260	71	fund	fund	NOUN
fsr-3927	260	72	29,930	29,930	NUM
fsr-3927	260	73	*	*	PUNCT
fsr-3927	260	74	*	*	PUNCT
fsr-3927	260	75	547	547	NUM
fsr-3927	260	76	7,493	7,493	NUM
fsr-3927	260	77	9,625	9,625	NUM
fsr-3927	260	78	6	6	NUM
fsr-3927	260	79	japan	japan	PROPN
fsr-3927	260	80	equity	equity	PROPN
fsr-3927	260	81	fund	fund	PROPN
fsr-3927	260	82	62,249	62,249	NUM
fsr-3927	260	83	*	*	PUNCT
fsr-3927	260	84	*	*	PUNCT
fsr-3927	260	85	237,641	237,641	NUM
fsr-3927	260	86	*	*	NOUN
fsr-3927	260	87	237,418	237,418	NUM
fsr-3927	260	88	*	*	PUNCT
fsr-3927	260	89	*	*	PUNCT
fsr-3927	261	1	223,327	223,327	NUM
fsr-3927	261	2	*	*	PUNCT
fsr-3927	261	3	*	*	PROPN
fsr-3927	261	4	7	7	NUM
fsr-3927	261	5	japan	japan	PROPN
fsr-3927	261	6	otc	otc	PROPN
fsr-3927	261	7	equity	equity	PROPN
fsr-3927	261	8	fund	fund	PROPN
fsr-3927	261	9	52,992	52,992	NUM
fsr-3927	261	10	*	*	PUNCT
fsr-3927	261	11	*	*	PUNCT
fsr-3927	261	12	219,615	219,615	NUM
fsr-3927	261	13	223,954	223,954	NUM
fsr-3927	261	14	216,834	216,834	NUM
fsr-3927	261	15	8	8	NUM
fsr-3927	261	16	malaysia	malaysia	PROPN
fsr-3927	261	17	fund	fund	NOUN
fsr-3927	261	18	56,566	56,566	NUM
fsr-3927	261	19	*	*	PUNCT
fsr-3927	261	20	*	*	PUNCT
fsr-3927	262	1	213,250	213,250	NUM
fsr-3927	262	2	215,285	215,285	NUM
fsr-3927	262	3	215,106	215,106	NUM
fsr-3927	262	4	9	9	NUM
fsr-3927	262	5	mexico	mexico	PROPN
fsr-3927	262	6	equity	equity	PROPN
fsr-3927	262	7	&	&	CCONJ
fsr-3927	262	8	income	income	PROPN
fsr-3927	262	9	fund	fund	PROPN
fsr-3927	262	10	366,385	366,385	NUM
fsr-3927	262	11	*	*	PUNCT
fsr-3927	262	12	*	*	PUNCT
fsr-3927	262	13	278,608	278,608	NUM
fsr-3927	262	14	2126,024	2126,024	NUM
fsr-3927	262	15	2141,585	2141,585	NUM
fsr-3927	262	16	*	*	SYM
fsr-3927	262	17	*	*	PROPN
fsr-3927	262	18	10	10	NUM
fsr-3927	262	19	mexico	mexico	PROPN
fsr-3927	262	20	fund	fund	NOUN
fsr-3927	262	21	87,098	87,098	NUM
fsr-3927	262	22	*	*	PUNCT
fsr-3927	262	23	*	*	PUNCT
fsr-3927	262	24	548	548	NUM
fsr-3927	262	25	1,321	1,321	NUM
fsr-3927	262	26	4,207	4,207	NUM
fsr-3927	262	27	11	11	NUM
fsr-3927	262	28	new	new	PROPN
fsr-3927	262	29	germany	germany	PROPN
fsr-3927	262	30	fund	fund	PROPN
fsr-3927	262	31	24,407	24,407	NUM
fsr-3927	262	32	*	*	SYM
fsr-3927	262	33	*	*	X
fsr-3927	262	34	26,668	26,668	NUM
fsr-3927	262	35	25,168	25,168	NUM
fsr-3927	262	36	2622	2622	NUM
fsr-3927	262	37	12	12	NUM
fsr-3927	262	38	singapore	singapore	PROPN
fsr-3927	262	39	fund	fund	PROPN
fsr-3927	262	40	27,986	27,986	NUM
fsr-3927	262	41	*	*	PUNCT
fsr-3927	262	42	*	*	PUNCT
fsr-3927	262	43	28,010	28,010	NUM
fsr-3927	262	44	211,679	211,679	NUM
fsr-3927	262	45	*	*	SYM
fsr-3927	262	46	21,998	21,998	NUM
fsr-3927	262	47	13	13	NUM
fsr-3927	262	48	spain	spain	PROPN
fsr-3927	262	49	fund	fund	NOUN
fsr-3927	262	50	28,332	28,332	NUM
fsr-3927	262	51	*	*	SYM
fsr-3927	262	52	*	*	PUNCT
fsr-3927	262	53	26,340	26,340	NUM
fsr-3927	262	54	210,517	210,517	NUM
fsr-3927	262	55	22,800	22,800	NUM
fsr-3927	262	56	14	14	NUM
fsr-3927	262	57	swiss	swiss	PROPN
fsr-3927	262	58	helvetia	helvetia	PROPN
fsr-3927	262	59	fund	fund	PROPN
fsr-3927	262	60	34,115	34,115	NUM
fsr-3927	262	61	*	*	PUNCT
fsr-3927	263	1	*	*	PUNCT
fsr-3927	263	2	25,815	25,815	NUM
fsr-3927	263	3	29,996	29,996	NUM
fsr-3927	263	4	*	*	SYM
fsr-3927	263	5	28,015	28,015	NUM
fsr-3927	263	6	*	*	PUNCT
fsr-3927	263	7	average	average	ADJ
fsr-3927	263	8	65,632	65,632	NUM
fsr-3927	263	9	213,604	213,604	NUM
fsr-3927	263	10	220,286	220,286	NUM
fsr-3927	263	11	215,446	215,446	NUM
fsr-3927	263	12	%	%	NOUN
fsr-3927	263	13	negative	negative	ADJ
fsr-3927	263	14	79	79	NUM
fsr-3927	263	15	%	%	NOUN
fsr-3927	263	16	86	86	NUM
fsr-3927	263	17	%	%	NOUN
fsr-3927	263	18	86	86	NUM
fsr-3927	263	19	%	%	NOUN
fsr-3927	263	20	x2	x2	PROPN
fsr-3927	263	21	statistics	statistics	PROPN
fsr-3927	263	22	h0	h0	PROPN
fsr-3927	263	23	:	:	PUNCT
fsr-3927	263	24	sum	sum	NOUN
fsr-3927	263	25	of	of	ADP
fsr-3927	263	26	parameters5	parameters5	NOUN
fsr-3927	263	27	0	0	NUM
fsr-3927	263	28	2.721	2.721	NUM
fsr-3927	263	29	8.823	8.823	NUM
fsr-3927	263	30	9.765	9.765	NUM
fsr-3927	263	31	*	*	PUNCT
fsr-3927	263	32	*	*	PUNCT
fsr-3927	263	33	h0	h0	PROPN
fsr-3927	263	34	:	:	PUNCT
fsr-3927	263	35	each	each	DET
fsr-3927	263	36	parameter5	parameter5	NOUN
fsr-3927	263	37	0	0	NUM
fsr-3927	264	1	12.500	12.500	NUM
fsr-3927	264	2	36.912	36.912	NUM
fsr-3927	264	3	*	*	NOUN
fsr-3927	264	4	*	*	PUNCT
fsr-3927	264	5	31.007	31.007	NUM
fsr-3927	264	6	*	*	PUNCT
fsr-3927	264	7	*	*	PROPN
fsr-3927	264	8	panel	panel	PROPN
fsr-3927	264	9	b	b	NOUN
fsr-3927	264	10	:	:	PUNCT
fsr-3927	264	11	funds	fund	NOUN
fsr-3927	264	12	with	with	ADP
fsr-3927	264	13	no	no	DET
fsr-3927	264	14	corresponding	correspond	VERB
fsr-3927	264	15	webs	webs	NOUN
fsr-3927	264	16	1	1	NUM
fsr-3927	264	17	argentina	argentina	PROPN
fsr-3927	264	18	fund	fund	PROPN
fsr-3927	264	19	55,172	55,172	NUM
fsr-3927	264	20	*	*	PUNCT
fsr-3927	264	21	*	*	NOUN
fsr-3927	264	22	21,711	21,711	NUM
fsr-3927	264	23	213,807	213,807	NUM
fsr-3927	264	24	215,536	215,536	NUM
fsr-3927	264	25	2	2	NUM
fsr-3927	264	26	brazil	brazil	PROPN
fsr-3927	264	27	fund	fund	NOUN
fsr-3927	264	28	89,375	89,375	NUM
fsr-3927	264	29	*	*	PUNCT
fsr-3927	264	30	*	*	X
fsr-3927	264	31	220,4241	220,4241	NUM
fsr-3927	264	32	220,659	220,659	NUM
fsr-3927	264	33	212,123	212,123	NUM
fsr-3927	264	34	3	3	NUM
fsr-3927	264	35	brazilian	brazilian	NOUN
fsr-3927	264	36	equity	equity	NOUN
fsr-3927	264	37	fund	fund	PROPN
fsr-3927	264	38	44,358	44,358	NUM
fsr-3927	264	39	*	*	PUNCT
fsr-3927	264	40	*	*	X
fsr-3927	264	41	15,141	15,141	NUM
fsr-3927	264	42	13,741	13,741	NUM
fsr-3927	264	43	4,686	4,686	NUM
fsr-3927	264	44	4	4	NUM
fsr-3927	264	45	chile	chile	NOUN
fsr-3927	264	46	fund	fund	NOUN
fsr-3927	264	47	37,132	37,132	NUM
fsr-3927	264	48	*	*	PUNCT
fsr-3927	264	49	*	*	PUNCT
fsr-3927	264	50	9,802	9,802	NUM
fsr-3927	264	51	210,713	210,713	NUM
fsr-3927	264	52	4,987	4,987	NUM
fsr-3927	264	53	5	5	NUM
fsr-3927	264	54	china	china	PROPN
fsr-3927	264	55	fund	fund	PROPN
fsr-3927	264	56	44,346	44,346	NUM
fsr-3927	264	57	*	*	PUNCT
fsr-3927	264	58	*	*	PUNCT
fsr-3927	264	59	4,977	4,977	NUM
fsr-3927	264	60	211,419	211,419	NUM
fsr-3927	264	61	210,438	210,438	NUM
fsr-3927	264	62	6	6	NUM
fsr-3927	264	63	first	first	ADJ
fsr-3927	264	64	israel	israel	PROPN
fsr-3927	264	65	fund	fund	PROPN
fsr-3927	264	66	37,761	37,761	NUM
fsr-3927	264	67	*	*	PUNCT
fsr-3927	264	68	*	*	PUNCT
fsr-3927	264	69	15,592	15,592	NUM
fsr-3927	264	70	2,685	2,685	NUM
fsr-3927	264	71	6,267	6,267	NUM
fsr-3927	264	72	7	7	NUM
fsr-3927	264	73	fidelity	fidelity	PROPN
fsr-3927	264	74	philippine	philippine	PROPN
fsr-3927	264	75	fund	fund	NOUN
fsr-3927	264	76	128,634	128,634	NUM
fsr-3927	264	77	*	*	PUNCT
fsr-3927	264	78	*	*	X
fsr-3927	264	79	3,412	3,412	NUM
fsr-3927	264	80	8,647	8,647	NUM
fsr-3927	264	81	7,825	7,825	NUM
fsr-3927	264	82	8	8	NUM
fsr-3927	264	83	greater	great	ADJ
fsr-3927	264	84	china	china	PROPN
fsr-3927	264	85	fund	fund	PROPN
fsr-3927	264	86	34,954	34,954	NUM
fsr-3927	264	87	*	*	PUNCT
fsr-3927	264	88	*	*	PUNCT
fsr-3927	264	89	24,600	24,600	NUM
fsr-3927	264	90	22,351	22,351	NUM
fsr-3927	264	91	21,083	21,083	NUM
fsr-3927	264	92	9	9	NUM
fsr-3927	264	93	india	india	PROPN
fsr-3927	264	94	fund	fund	NOUN
fsr-3927	264	95	16,248	16,248	NUM
fsr-3927	264	96	*	*	PUNCT
fsr-3927	264	97	*	*	PUNCT
fsr-3927	264	98	27,740	27,740	NUM
fsr-3927	264	99	27,356	27,356	NUM
fsr-3927	264	100	*	*	PUNCT
fsr-3927	264	101	26,256	26,256	NUM
fsr-3927	264	102	*	*	SYM
fsr-3927	264	103	10	10	NUM
fsr-3927	264	104	india	india	PROPN
fsr-3927	264	105	growth	growth	NOUN
fsr-3927	264	106	fund	fund	NOUN
fsr-3927	264	107	9,983	9,983	NUM
fsr-3927	264	108	*	*	SYM
fsr-3927	264	109	*	*	PUNCT
fsr-3927	264	110	4,871	4,871	NUM
fsr-3927	264	111	3,390	3,390	NUM
fsr-3927	264	112	4,521	4,521	NUM
fsr-3927	264	113	*	*	SYM
fsr-3927	264	114	11	11	NUM
fsr-3927	264	115	irish	irish	ADJ
fsr-3927	264	116	investment	investment	NOUN
fsr-3927	264	117	fund	fund	NOUN
fsr-3927	264	118	36,663	36,663	NUM
fsr-3927	264	119	*	*	PUNCT
fsr-3927	264	120	*	*	PUNCT
fsr-3927	264	121	22,833	22,833	NUM
fsr-3927	264	122	28,106	28,106	NUM
fsr-3927	264	123	24,994	24,994	NUM
fsr-3927	264	124	12	12	NUM
fsr-3927	264	125	jardine	jardine	PROPN
fsr-3927	264	126	fleming	fleming	PROPN
fsr-3927	264	127	china	china	PROPN
fsr-3927	264	128	region	region	PROPN
fsr-3927	264	129	fund	fund	PROPN
fsr-3927	264	130	114,103	114,103	NUM
fsr-3927	264	131	*	*	NOUN
fsr-3927	264	132	*	*	NOUN
fsr-3927	264	133	247,334	247,334	NUM
fsr-3927	264	134	233,811	233,811	NUM
fsr-3927	264	135	30,006	30,006	NUM
fsr-3927	264	136	13	13	NUM
fsr-3927	264	137	korea	korea	PROPN
fsr-3927	264	138	fund	fund	PROPN
fsr-3927	264	139	29,208	29,208	NUM
fsr-3927	264	140	*	*	SYM
fsr-3927	264	141	*	*	NOUN
fsr-3927	264	142	27,203	27,203	NUM
fsr-3927	264	143	27,038	27,038	NUM
fsr-3927	264	144	4,125	4,125	NUM
fsr-3927	264	145	14	14	NUM
fsr-3927	264	146	korean	korean	ADJ
fsr-3927	264	147	investment	investment	NOUN
fsr-3927	264	148	fund	fund	NOUN
fsr-3927	264	149	38,387	38,387	NUM
fsr-3927	264	150	*	*	PUNCT
fsr-3927	265	1	*	*	PUNCT
fsr-3927	265	2	26,156	26,156	NUM
fsr-3927	265	3	28,002	28,002	NUM
fsr-3927	265	4	24,654	24,654	NUM
fsr-3927	265	5	15	15	NUM
fsr-3927	265	6	pakistan	pakistan	PROPN
fsr-3927	265	7	investment	investment	NOUN
fsr-3927	265	8	fund	fund	NOUN
fsr-3927	265	9	119,164	119,164	NUM
fsr-3927	265	10	*	*	PUNCT
fsr-3927	265	11	*	*	PUNCT
fsr-3927	266	1	71,651	71,651	NUM
fsr-3927	266	2	*	*	SYM
fsr-3927	266	3	30,593	30,593	NUM
fsr-3927	266	4	54,364	54,364	NUM
fsr-3927	266	5	*	*	SYM
fsr-3927	266	6	16	16	NUM
fsr-3927	266	7	roc	roc	PROPN
fsr-3927	266	8	taiwan	taiwan	PROPN
fsr-3927	266	9	fund	fund	NOUN
fsr-3927	266	10	43,872	43,872	NUM
fsr-3927	266	11	*	*	PUNCT
fsr-3927	266	12	*	*	PUNCT
fsr-3927	266	13	212,432	212,432	NUM
fsr-3927	266	14	215,834	215,834	NUM
fsr-3927	266	15	*	*	NOUN
fsr-3927	267	1	215,532	215,532	NUM
fsr-3927	267	2	*	*	PUNCT
fsr-3927	267	3	*	*	PROPN
fsr-3927	267	4	17	17	NUM
fsr-3927	267	5	taiwan	taiwan	PROPN
fsr-3927	267	6	fund	fund	NOUN
fsr-3927	267	7	57,038	57,038	NUM
fsr-3927	267	8	*	*	PUNCT
fsr-3927	267	9	*	*	NUM
fsr-3927	267	10	28,838	28,838	NUM
fsr-3927	267	11	29,188	29,188	NUM
fsr-3927	267	12	22,644	22,644	NUM
fsr-3927	267	13	(	(	PUNCT
fsr-3927	267	14	continued	continue	VERB
fsr-3927	267	15	on	on	ADP
fsr-3927	267	16	next	next	ADJ
fsr-3927	267	17	page	page	NOUN
fsr-3927	267	18	)	)	PUNCT
fsr-3927	267	19	272	272	NUM
fsr-3927	267	20	m.	m.	NOUN
fsr-3927	267	21	o’connor	o’connor	ADV
fsr-3927	267	22	,	,	PUNCT
fsr-3927	267	23	e.a	e.a	PROPN
fsr-3927	267	24	.	.	PROPN
fsr-3927	267	25	downe	downe	PROPN
fsr-3927	267	26	/	/	SYM
fsr-3927	267	27	financial	financial	ADJ
fsr-3927	267	28	services	service	NOUN
fsr-3927	267	29	review	review	VERB
fsr-3927	267	30	9	9	NUM
fsr-3927	267	31	(	(	PUNCT
fsr-3927	267	32	2000	2000	NUM
fsr-3927	267	33	)	)	PUNCT
fsr-3927	268	1	259–275	259–275	NUM
fsr-3927	268	2	table	table	NOUN
fsr-3927	268	3	5	5	NUM
fsr-3927	268	4	two	two	NUM
fsr-3927	268	5	factor	factor	NOUN
fsr-3927	268	6	difference	difference	NOUN
fsr-3927	268	7	in	in	ADP
fsr-3927	268	8	means	mean	NOUN
fsr-3927	268	9	test	test	NOUN
fsr-3927	268	10	(	(	PUNCT
fsr-3927	268	11	dependent	dependent	ADJ
fsr-3927	268	12	variable5	variable5	ADP
fsr-3927	268	13	average	average	ADJ
fsr-3927	268	14	daily	daily	ADJ
fsr-3927	268	15	volume	volume	NOUN
fsr-3927	268	16	)	)	PUNCT
fsr-3927	268	17	.	.	PUNCT
fsr-3927	269	1	post	post	ADJ
fsr-3927	269	2	-	-	ADJ
fsr-3927	269	3	event	event	ADJ
fsr-3927	269	4	window	window	NOUN
fsr-3927	269	5	of	of	ADP
fsr-3927	269	6	:	:	PUNCT
fsr-3927	269	7	13	13	NUM
fsr-3927	269	8	weeks	week	NOUN
fsr-3927	269	9	26	26	NUM
fsr-3927	269	10	weeks	week	NOUN
fsr-3927	269	11	52	52	NUM
fsr-3927	269	12	weeks	week	NOUN
fsr-3927	269	13	panel	panel	NOUN
fsr-3927	269	14	a	a	DET
fsr-3927	269	15	:	:	PUNCT
fsr-3927	269	16	parameter	parameter	NOUN
fsr-3927	269	17	estimates	estimate	VERB
fsr-3927	269	18	m	m	VERB
fsr-3927	269	19	55,186	55,186	NUM
fsr-3927	269	20	*	*	PUNCT
fsr-3927	269	21	*	*	PUNCT
fsr-3927	269	22	52,726	52,726	NUM
fsr-3927	269	23	*	*	PUNCT
fsr-3927	269	24	*	*	PUNCT
fsr-3927	270	1	55,760	55,760	NUM
fsr-3927	270	2	*	*	PUNCT
fsr-3927	270	3	*	*	PUNCT
fsr-3927	270	4	a	a	DET
fsr-3927	270	5	23,522	23,522	NUM
fsr-3927	270	6	25,947	25,947	NUM
fsr-3927	270	7	*	*	PUNCT
fsr-3927	270	8	*	*	NOUN
fsr-3927	270	9	22,949	22,949	NUM
fsr-3927	270	10	*	*	SYM
fsr-3927	270	11	g	g	ADP
fsr-3927	270	12	23,274	23,274	NUM
fsr-3927	270	13	22,734	22,734	NUM
fsr-3927	270	14	22,148	22,148	NUM
fsr-3927	270	15	u	u	NOUN
fsr-3927	270	16	3,648	3,648	NUM
fsr-3927	270	17	4,187	4,187	NUM
fsr-3927	270	18	4,774	4,774	NUM
fsr-3927	270	19	*	*	PUNCT
fsr-3927	270	20	*	*	PUNCT
fsr-3927	270	21	panel	panel	PROPN
fsr-3927	270	22	b	b	PROPN
fsr-3927	270	23	:	:	PUNCT
fsr-3927	270	24	hypotheses	hypothesis	NOUN
fsr-3927	270	25	test	test	NOUN
fsr-3927	270	26	results	result	NOUN
fsr-3927	270	27	ho	ho	PROPN
fsr-3927	270	28	(	(	PUNCT
fsr-3927	270	29	m21	m21	PROPN
fsr-3927	270	30	2	2	NUM
fsr-3927	270	31	m11	m11	NOUN
fsr-3927	270	32	)	)	PUNCT
fsr-3927	270	33	5	5	NUM
fsr-3927	270	34	0	0	NUM
fsr-3927	270	35	214,340	214,340	NUM
fsr-3927	270	36	*	*	PUNCT
fsr-3927	270	37	*	*	PUNCT
fsr-3927	270	38	220,268	220,268	NUM
fsr-3927	270	39	*	*	X
fsr-3927	270	40	*	*	PUNCT
fsr-3927	270	41	215,446	215,446	NUM
fsr-3927	270	42	*	*	PUNCT
fsr-3927	270	43	*	*	PUNCT
fsr-3927	270	44	(	(	PUNCT
fsr-3927	270	45	m22	m22	PROPN
fsr-3927	270	46	2	2	NUM
fsr-3927	270	47	m12	m12	PROPN
fsr-3927	270	48	)	)	PUNCT
fsr-3927	270	49	5	5	NUM
fsr-3927	270	50	0	0	NUM
fsr-3927	270	51	252	252	NUM
fsr-3927	270	52	23,520	23,520	NUM
fsr-3927	270	53	3,650	3,650	NUM
fsr-3927	270	54	(	(	PUNCT
fsr-3927	270	55	m21	m21	PROPN
fsr-3927	270	56	2	2	NUM
fsr-3927	270	57	m11	m11	NOUN
fsr-3927	270	58	)	)	PUNCT
fsr-3927	270	59	2	2	NUM
fsr-3927	270	60	(	(	PUNCT
fsr-3927	270	61	m22	m22	PROPN
fsr-3927	270	62	2	2	NUM
fsr-3927	270	63	m12	m12	PROPN
fsr-3927	270	64	)	)	PUNCT
fsr-3927	270	65	5	5	NUM
fsr-3927	270	66	0	0	NUM
fsr-3927	270	67	214,592	214,592	NUM
fsr-3927	270	68	216,748	216,748	NUM
fsr-3927	270	69	*	*	PUNCT
fsr-3927	271	1	219,096	219,096	NUM
fsr-3927	271	2	*	*	PUNCT
fsr-3927	271	3	*	*	PUNCT
fsr-3927	271	4	*	*	PUNCT
fsr-3927	271	5	significant	significant	ADJ
fsr-3927	271	6	at	at	ADP
fsr-3927	271	7	5	5	NUM
fsr-3927	271	8	%	%	NOUN
fsr-3927	271	9	;	;	PUNCT
fsr-3927	271	10	*	*	PUNCT
fsr-3927	271	11	*	*	PUNCT
fsr-3927	271	12	significant	significant	ADJ
fsr-3927	271	13	at	at	ADP
fsr-3927	271	14	1	1	NUM
fsr-3927	271	15	%	%	NOUN
fsr-3927	271	16	.	.	PUNCT
fsr-3927	272	1	results	result	NOUN
fsr-3927	272	2	are	be	AUX
fsr-3927	272	3	from	from	ADP
fsr-3927	272	4	a	a	DET
fsr-3927	272	5	pooled	pooled	ADJ
fsr-3927	272	6	regression	regression	NOUN
fsr-3927	272	7	of	of	ADP
fsr-3927	272	8	each	each	DET
fsr-3927	272	9	week	week	NOUN
fsr-3927	272	10	’s	’s	PART
fsr-3927	272	11	average	average	ADJ
fsr-3927	272	12	daily	daily	ADJ
fsr-3927	272	13	volume	volume	NOUN
fsr-3927	272	14	against	against	ADP
fsr-3927	272	15	three	three	NUM
fsr-3927	272	16	dummy	dummy	ADJ
fsr-3927	272	17	variables	variable	NOUN
fsr-3927	272	18	.	.	PUNCT
fsr-3927	273	1	letting	let	VERB
fsr-3927	273	2	y	y	PRON
fsr-3927	273	3	be	be	AUX
fsr-3927	273	4	a	a	DET
fsr-3927	273	5	weekly	weekly	ADJ
fsr-3927	273	6	observation	observation	NOUN
fsr-3927	273	7	of	of	ADP
fsr-3927	273	8	average	average	ADJ
fsr-3927	273	9	daily	daily	ADJ
fsr-3927	273	10	volume	volume	NOUN
fsr-3927	273	11	,	,	PUNCT
fsr-3927	273	12	the	the	DET
fsr-3927	273	13	regression	regression	NOUN
fsr-3927	273	14	model	model	NOUN
fsr-3927	273	15	is	be	AUX
fsr-3927	273	16	y5	y5	PROPN
fsr-3927	273	17	m	m	ADJ
fsr-3927	273	18	1	1	NUM
fsr-3927	273	19	ad1	ad1	PROPN
fsr-3927	273	20	1	1	NUM
fsr-3927	273	21	gd2	gd2	NOUN
fsr-3927	273	22	1	1	NUM
fsr-3927	273	23	qd1d2	qd1d2	PROPN
fsr-3927	273	24	1	1	NUM
fsr-3927	273	25	«	«	PUNCT
fsr-3927	273	26	,	,	PUNCT
fsr-3927	273	27	where	where	SCONJ
fsr-3927	273	28	:	:	PUNCT
fsr-3927	273	29	d1	d1	PROPN
fsr-3927	273	30	5	5	NUM
fsr-3927	273	31	h1	h1	NOUN
fsr-3927	273	32	if	if	SCONJ
fsr-3927	273	33	the	the	DET
fsr-3927	273	34	observation	observation	NOUN
fsr-3927	273	35	is	be	AUX
fsr-3927	273	36	in	in	ADP
fsr-3927	273	37	the	the	DET
fsr-3927	273	38	pre	pre	ADJ
fsr-3927	273	39	-	-	ADJ
fsr-3927	273	40	event	event	ADJ
fsr-3927	273	41	estimation	estimation	NOUN
fsr-3927	273	42	window	window	NOUN
fsr-3927	273	43	21	21	NUM
fsr-3927	273	44	if	if	SCONJ
fsr-3927	273	45	the	the	DET
fsr-3927	273	46	observation	observation	NOUN
fsr-3927	273	47	is	be	AUX
fsr-3927	273	48	in	in	ADP
fsr-3927	273	49	the	the	DET
fsr-3927	273	50	post	post	ADJ
fsr-3927	273	51	-	-	ADJ
fsr-3927	273	52	event	event	ADJ
fsr-3927	273	53	window	window	NOUN
fsr-3927	273	54	and	and	CCONJ
fsr-3927	273	55	d2	d2	PROPN
fsr-3927	273	56	5	5	NUM
fsr-3927	273	57	h1	h1	NOUN
fsr-3927	273	58	if	if	SCONJ
fsr-3927	273	59	the	the	DET
fsr-3927	273	60	observation	observation	NOUN
fsr-3927	273	61	is	be	AUX
fsr-3927	273	62	from	from	ADP
fsr-3927	273	63	a	a	DET
fsr-3927	273	64	fund	fund	NOUN
fsr-3927	273	65	with	with	ADP
fsr-3927	273	66	a	a	DET
fsr-3927	273	67	corresonding	corresonding	NOUN
fsr-3927	273	68	webs	webs	NOUN
fsr-3927	273	69	index	index	NOUN
fsr-3927	273	70	21	21	NUM
fsr-3927	273	71	if	if	SCONJ
fsr-3927	273	72	the	the	DET
fsr-3927	273	73	observation	observation	NOUN
fsr-3927	273	74	is	be	AUX
fsr-3927	273	75	from	from	ADP
fsr-3927	273	76	a	a	DET
fsr-3927	273	77	fund	fund	NOUN
fsr-3927	273	78	with	with	ADP
fsr-3927	273	79	no	no	DET
fsr-3927	273	80	corresponding	correspond	VERB
fsr-3927	273	81	webs	webs	NOUN
fsr-3927	273	82	index	index	NOUN
fsr-3927	273	83	the	the	DET
fsr-3927	273	84	parameterm	parameterm	NOUN
fsr-3927	273	85	is	be	AUX
fsr-3927	273	86	the	the	DET
fsr-3927	273	87	grand	grand	ADJ
fsr-3927	273	88	mean	mean	ADJ
fsr-3927	273	89	daily	daily	ADJ
fsr-3927	273	90	volume	volume	NOUN
fsr-3927	273	91	for	for	ADP
fsr-3927	273	92	all	all	DET
fsr-3927	273	93	funds	fund	NOUN
fsr-3927	273	94	,	,	PUNCT
fsr-3927	273	95	a	a	DET
fsr-3927	273	96	measures	measure	NOUN
fsr-3927	273	97	the	the	DET
fsr-3927	273	98	effect	effect	NOUN
fsr-3927	273	99	due	due	ADP
fsr-3927	273	100	to	to	ADP
fsr-3927	273	101	the	the	DET
fsr-3927	273	102	time	time	NOUN
fsr-3927	273	103	factor	factor	NOUN
fsr-3927	273	104	,	,	PUNCT
fsr-3927	273	105	g	g	NOUN
fsr-3927	273	106	measures	measure	VERB
fsr-3927	273	107	the	the	DET
fsr-3927	273	108	effect	effect	NOUN
fsr-3927	273	109	due	due	ADP
fsr-3927	273	110	to	to	ADP
fsr-3927	273	111	fund	fund	NOUN
fsr-3927	273	112	type	type	NOUN
fsr-3927	273	113	,	,	PUNCT
fsr-3927	273	114	andq	andq	PROPN
fsr-3927	273	115	measures	measure	VERB
fsr-3927	273	116	the	the	DET
fsr-3927	273	117	interaction	interaction	NOUN
fsr-3927	273	118	effect	effect	NOUN
fsr-3927	273	119	between	between	ADP
fsr-3927	273	120	the	the	DET
fsr-3927	273	121	two	two	NUM
fsr-3927	273	122	factors	factor	NOUN
fsr-3927	273	123	.	.	PUNCT
fsr-3927	274	1	let	let	VERB
fsr-3927	274	2	the	the	DET
fsr-3927	274	3	subscript	subscript	NOUN
fsr-3927	274	4	i	i	PRON
fsr-3927	274	5	equal	equal	VERB
fsr-3927	274	6	one	one	NUM
fsr-3927	274	7	for	for	ADP
fsr-3927	274	8	a	a	DET
fsr-3927	274	9	pre	pre	ADJ
fsr-3927	274	10	-	-	ADJ
fsr-3927	274	11	event	event	ADJ
fsr-3927	274	12	observation	observation	NOUN
fsr-3927	274	13	and	and	CCONJ
fsr-3927	274	14	two	two	NUM
fsr-3927	274	15	otherwise	otherwise	ADV
fsr-3927	274	16	.	.	PUNCT
fsr-3927	275	1	let	let	VERB
fsr-3927	275	2	the	the	DET
fsr-3927	275	3	subscript	subscript	NOUN
fsr-3927	275	4	k	k	PROPN
fsr-3927	275	5	equal	equal	ADJ
fsr-3927	275	6	one	one	NUM
fsr-3927	275	7	for	for	ADP
fsr-3927	275	8	an	an	DET
fsr-3927	275	9	observation	observation	NOUN
fsr-3927	275	10	from	from	ADP
fsr-3927	275	11	a	a	DET
fsr-3927	275	12	fund	fund	NOUN
fsr-3927	275	13	with	with	ADP
fsr-3927	275	14	a	a	DET
fsr-3927	275	15	corresponding	corresponding	ADJ
fsr-3927	275	16	webs	webs	NOUN
fsr-3927	275	17	index	index	NOUN
fsr-3927	275	18	and	and	CCONJ
fsr-3927	275	19	two	two	NUM
fsr-3927	275	20	otherwise	otherwise	ADV
fsr-3927	275	21	.	.	PUNCT
fsr-3927	276	1	then	then	ADV
fsr-3927	276	2	the	the	DET
fsr-3927	276	3	grand	grand	ADJ
fsr-3927	276	4	mean	mean	ADJ
fsr-3927	276	5	daily	daily	ADJ
fsr-3927	276	6	volume	volume	NOUN
fsr-3927	276	7	(	(	PUNCT
fsr-3927	276	8	mik	mik	PROPN
fsr-3927	276	9	)	)	PUNCT
fsr-3927	276	10	for	for	ADP
fsr-3927	276	11	each	each	DET
fsr-3927	276	12	level	level	NOUN
fsr-3927	276	13	of	of	ADP
fsr-3927	276	14	each	each	DET
fsr-3927	276	15	factor	factor	NOUN
fsr-3927	276	16	is	be	AUX
fsr-3927	276	17	recoverable	recoverable	ADJ
fsr-3927	276	18	from	from	ADP
fsr-3927	276	19	the	the	DET
fsr-3927	276	20	regression	regression	NOUN
fsr-3927	276	21	model	model	NOUN
fsr-3927	276	22	.	.	PUNCT
fsr-3927	277	1	table	table	NOUN
fsr-3927	277	2	4(continued	4(continued	NUM
fsr-3927	277	3	)	)	PUNCT
fsr-3927	277	4	fund	fund	NOUN
fsr-3927	277	5	number	number	NOUN
fsr-3927	277	6	fund	fund	NOUN
fsr-3927	277	7	name	name	NOUN
fsr-3927	277	8	intercept	intercept	NOUN
fsr-3927	277	9	b̂j	b̂j	NOUN
fsr-3927	277	10	for	for	ADP
fsr-3927	277	11	post	post	ADJ
fsr-3927	277	12	-	-	ADJ
fsr-3927	277	13	event	event	ADJ
fsr-3927	277	14	window	window	NOUN
fsr-3927	277	15	of	of	ADP
fsr-3927	277	16	:	:	PUNCT
fsr-3927	277	17	13	13	NUM
fsr-3927	277	18	-	-	PUNCT
fsr-3927	277	19	weeks	week	NOUN
fsr-3927	277	20	26	26	NUM
fsr-3927	277	21	-	-	PUNCT
fsr-3927	277	22	weeks	week	NOUN
fsr-3927	277	23	52	52	NUM
fsr-3927	277	24	-	-	PUNCT
fsr-3927	277	25	weeks	week	NOUN
fsr-3927	277	26	panel	panel	NOUN
fsr-3927	277	27	b	b	NOUN
fsr-3927	277	28	:	:	PUNCT
fsr-3927	277	29	funds	fund	NOUN
fsr-3927	277	30	with	with	ADP
fsr-3927	277	31	no	no	DET
fsr-3927	277	32	corresponding	correspond	VERB
fsr-3927	277	33	webs	webs	NOUN
fsr-3927	277	34	18	18	NUM
fsr-3927	277	35	templeton	templeton	PROPN
fsr-3927	277	36	china	china	PROPN
fsr-3927	277	37	world	world	PROPN
fsr-3927	277	38	fund	fund	PROPN
fsr-3927	277	39	73,343	73,343	NUM
fsr-3927	277	40	*	*	PUNCT
fsr-3927	277	41	*	*	PUNCT
fsr-3927	277	42	16,103	16,103	NUM
fsr-3927	277	43	7,295	7,295	NUM
fsr-3927	277	44	10,695	10,695	NUM
fsr-3927	277	45	19	19	NUM
fsr-3927	277	46	thai	thai	PROPN
fsr-3927	277	47	capital	capital	PROPN
fsr-3927	277	48	fund	fund	PROPN
fsr-3927	277	49	36,819	36,819	NUM
fsr-3927	277	50	*	*	PUNCT
fsr-3927	277	51	*	*	X
fsr-3927	277	52	214,504	214,504	NUM
fsr-3927	277	53	8,919	8,919	NUM
fsr-3927	277	54	8,319	8,319	NUM
fsr-3927	277	55	20	20	NUM
fsr-3927	277	56	thai	thai	PROPN
fsr-3927	277	57	fund	fund	NOUN
fsr-3927	277	58	24,863	24,863	NUM
fsr-3927	277	59	*	*	PUNCT
fsr-3927	277	60	*	*	PUNCT
fsr-3927	277	61	21,487	21,487	NUM
fsr-3927	277	62	22,517	22,517	NUM
fsr-3927	277	63	3,340	3,340	NUM
fsr-3927	277	64	21	21	NUM
fsr-3927	277	65	turkish	turkish	ADJ
fsr-3927	277	66	investment	investment	NOUN
fsr-3927	277	67	fund	fund	NOUN
fsr-3927	277	68	16,096	16,096	NUM
fsr-3927	277	69	*	*	SYM
fsr-3927	277	70	*	*	PUNCT
fsr-3927	277	71	2165	2165	NUM
fsr-3927	277	72	1,827	1,827	NUM
fsr-3927	277	73	10,771	10,771	NUM
fsr-3927	277	74	average	average	ADJ
fsr-3927	277	75	51,787	51,787	NUM
fsr-3927	277	76	292	292	NUM
fsr-3927	277	77	23,510	23,510	NUM
fsr-3927	277	78	3,650	3,650	NUM
fsr-3927	277	79	%	%	NOUN
fsr-3927	277	80	negative	negative	ADJ
fsr-3927	277	81	62	62	NUM
fsr-3927	277	82	%	%	NOUN
fsr-3927	277	83	62	62	NUM
fsr-3927	277	84	%	%	NOUN
fsr-3927	277	85	43	43	NUM
fsr-3927	277	86	%	%	NOUN
fsr-3927	278	1	x2	x2	PROPN
fsr-3927	278	2	statistics	statistics	PROPN
fsr-3927	278	3	h0	h0	PROPN
fsr-3927	278	4	:	:	PUNCT
fsr-3927	278	5	sum	sum	NOUN
fsr-3927	278	6	of	of	ADP
fsr-3927	278	7	parameters5	parameters5	NOUN
fsr-3927	278	8	0	0	NUM
fsr-3927	278	9	0.055	0.055	NUM
fsr-3927	278	10	1.017	1.017	NUM
fsr-3927	278	11	1.722	1.722	NUM
fsr-3927	278	12	h0	h0	NOUN
fsr-3927	278	13	:	:	PUNCT
fsr-3927	278	14	each	each	DET
fsr-3927	278	15	parameter5	parameter5	NOUN
fsr-3927	278	16	0	0	NUM
fsr-3927	279	1	55.359	55.359	NUM
fsr-3927	279	2	*	*	PUNCT
fsr-3927	279	3	*	*	PUNCT
fsr-3927	280	1	66.137	66.137	NUM
fsr-3927	280	2	*	*	PUNCT
fsr-3927	280	3	*	*	PUNCT
fsr-3927	281	1	83.790	83.790	NUM
fsr-3927	281	2	*	*	NOUN
fsr-3927	281	3	*	*	PUNCT
fsr-3927	281	4	*	*	PUNCT
fsr-3927	281	5	significant	significant	ADJ
fsr-3927	281	6	at	at	ADP
fsr-3927	281	7	5	5	NUM
fsr-3927	281	8	%	%	NOUN
fsr-3927	281	9	;	;	PUNCT
fsr-3927	281	10	*	*	PUNCT
fsr-3927	281	11	*	*	PUNCT
fsr-3927	281	12	significant	significant	ADJ
fsr-3927	281	13	at	at	ADP
fsr-3927	281	14	1	1	NUM
fsr-3927	281	15	%	%	NOUN
fsr-3927	281	16	.	.	PUNCT
fsr-3927	282	1	results	result	NOUN
fsr-3927	282	2	are	be	AUX
fsr-3927	282	3	from	from	ADP
fsr-3927	282	4	a	a	DET
fsr-3927	282	5	systems	system	NOUN
fsr-3927	282	6	of	of	ADP
fsr-3927	282	7	equations	equation	NOUN
fsr-3927	282	8	regression	regression	NOUN
fsr-3927	282	9	of	of	ADP
fsr-3927	282	10	each	each	DET
fsr-3927	282	11	week	week	NOUN
fsr-3927	282	12	’s	’s	PART
fsr-3927	282	13	average	average	ADJ
fsr-3927	282	14	daily	daily	ADJ
fsr-3927	282	15	volume	volume	NOUN
fsr-3927	282	16	against	against	ADP
fsr-3927	282	17	a	a	DET
fsr-3927	282	18	dummy	dummy	ADJ
fsr-3927	282	19	variable	variable	NOUN
fsr-3927	282	20	,	,	PUNCT
fsr-3927	282	21	d	d	NOUN
fsr-3927	282	22	,	,	PUNCT
fsr-3927	282	23	that	that	PRON
fsr-3927	282	24	is	be	AUX
fsr-3927	282	25	constructed	construct	VERB
fsr-3927	282	26	with	with	ADP
fsr-3927	282	27	ones	one	NOUN
fsr-3927	282	28	in	in	ADP
fsr-3927	282	29	the	the	DET
fsr-3927	282	30	post	post	ADJ
fsr-3927	282	31	-	-	ADJ
fsr-3927	282	32	event	event	ADJ
fsr-3927	282	33	window	window	NOUN
fsr-3927	282	34	.	.	PUNCT
fsr-3927	283	1	for	for	ADP
fsr-3927	283	2	each	each	DET
fsr-3927	283	3	individual	individual	ADJ
fsr-3927	283	4	firm	firm	PROPN
fsr-3927	283	5	j	j	PROPN
fsr-3927	283	6	,	,	PUNCT
fsr-3927	283	7	the	the	DET
fsr-3927	283	8	equation	equation	NOUN
fsr-3927	283	9	is	be	AUX
fsr-3927	283	10	:	:	PUNCT
fsr-3927	283	11	yj	yj	PROPN
fsr-3927	283	12	5	5	NUM
fsr-3927	283	13	mj	mj	PROPN
fsr-3927	283	14	1	1	NUM
fsr-3927	283	15	bjd	bjd	NOUN
fsr-3927	283	16	1	1	NUM
fsr-3927	283	17	«	«	PUNCT
fsr-3927	283	18	j	j	PROPN
fsr-3927	283	19	,	,	PUNCT
fsr-3927	283	20	with	with	ADP
fsr-3927	283	21	«	«	PUNCT
fsr-3927	283	22	j	j	PROPN
fsr-3927	283	23	;	;	PUNCT
fsr-3927	283	24	n(0	n(0	PROPN
fsr-3927	283	25	,	,	PUNCT
fsr-3927	283	26	s2	s2	PROPN
fsr-3927	283	27	)	)	PUNCT
fsr-3927	283	28	.	.	PUNCT
fsr-3927	284	1	273	273	NUM
fsr-3927	284	2	m.	m.	NOUN
fsr-3927	284	3	o’connor	o’connor	ADV
fsr-3927	284	4	,	,	PUNCT
fsr-3927	284	5	e.a	e.a	PROPN
fsr-3927	284	6	.	.	PROPN
fsr-3927	284	7	downe	downe	PROPN
fsr-3927	284	8	/	/	SYM
fsr-3927	284	9	financial	financial	ADJ
fsr-3927	284	10	services	service	NOUN
fsr-3927	284	11	review	review	VERB
fsr-3927	284	12	9	9	NUM
fsr-3927	284	13	(	(	PUNCT
fsr-3927	284	14	2000	2000	NUM
fsr-3927	284	15	)	)	PUNCT
fsr-3927	284	16	259–275	259–275	NUM
fsr-3927	284	17	that	that	SCONJ
fsr-3927	284	18	discounts	discount	NOUN
fsr-3927	284	19	will	will	AUX
fsr-3927	284	20	increase	increase	VERB
fsr-3927	284	21	for	for	ADP
fsr-3927	284	22	cecfs	cecfs	NOUN
fsr-3927	284	23	with	with	ADP
fsr-3927	284	24	a	a	DET
fsr-3927	284	25	corresponding	corresponding	ADJ
fsr-3927	284	26	webs	webs	NOUN
fsr-3927	284	27	index	index	NOUN
fsr-3927	284	28	due	due	ADP
fsr-3927	284	29	to	to	ADP
fsr-3927	284	30	increased	increase	VERB
fsr-3927	284	31	competition	competition	NOUN
fsr-3927	284	32	and	and	CCONJ
fsr-3927	284	33	reduced	reduced	ADJ
fsr-3927	284	34	market	market	NOUN
fsr-3927	284	35	segmentation	segmentation	NOUN
fsr-3927	284	36	premiums	premium	NOUN
fsr-3927	284	37	.	.	PUNCT
fsr-3927	285	1	we	we	PRON
fsr-3927	285	2	use	use	VERB
fsr-3927	285	3	a	a	DET
fsr-3927	285	4	modified	modify	VERB
fsr-3927	285	5	event	event	NOUN
fsr-3927	285	6	study	study	NOUN
fsr-3927	285	7	to	to	PART
fsr-3927	285	8	test	test	VERB
fsr-3927	285	9	the	the	DET
fsr-3927	285	10	impact	impact	NOUN
fsr-3927	285	11	of	of	ADP
fsr-3927	285	12	country	country	NOUN
fsr-3927	285	13	specific	specific	ADJ
fsr-3927	285	14	index	index	NOUN
fsr-3927	285	15	trading	trading	NOUN
fsr-3927	285	16	on	on	ADP
fsr-3927	285	17	cecf	cecf	PROPN
fsr-3927	285	18	discounts	discount	NOUN
fsr-3927	285	19	.	.	PUNCT
fsr-3927	286	1	our	our	PRON
fsr-3927	286	2	results	result	NOUN
fsr-3927	286	3	are	be	AUX
fsr-3927	286	4	consistent	consistent	ADJ
fsr-3927	286	5	with	with	ADP
fsr-3927	286	6	a	a	DET
fsr-3927	286	7	rational	rational	ADJ
fsr-3927	286	8	economic	economic	ADJ
fsr-3927	286	9	explanation	explanation	NOUN
fsr-3927	286	10	of	of	ADP
fsr-3927	286	11	the	the	DET
fsr-3927	286	12	discount	discount	NOUN
fsr-3927	286	13	.	.	PUNCT
fsr-3927	287	1	in	in	ADP
fsr-3927	287	2	particular	particular	ADJ
fsr-3927	287	3	,	,	PUNCT
fsr-3927	287	4	the	the	DET
fsr-3927	287	5	percentage	percentage	NOUN
fsr-3927	287	6	discount	discount	NOUN
fsr-3927	287	7	increases	increase	NOUN
fsr-3927	287	8	after	after	ADP
fsr-3927	287	9	the	the	DET
fsr-3927	287	10	introduction	introduction	NOUN
fsr-3927	287	11	of	of	ADP
fsr-3927	287	12	webs	webs	NOUN
fsr-3927	287	13	trading	trading	NOUN
fsr-3927	287	14	.	.	PUNCT
fsr-3927	288	1	the	the	DET
fsr-3927	288	2	increase	increase	NOUN
fsr-3927	288	3	is	be	AUX
fsr-3927	288	4	stronger	strong	ADJ
fsr-3927	288	5	for	for	ADP
fsr-3927	288	6	cecfs	cecfs	NOUN
fsr-3927	288	7	with	with	ADP
fsr-3927	288	8	a	a	DET
fsr-3927	288	9	corresponding	corresponding	ADJ
fsr-3927	288	10	webs	webs	NOUN
fsr-3927	288	11	index	index	NOUN
fsr-3927	288	12	and	and	CCONJ
fsr-3927	288	13	remains	remain	VERB
fsr-3927	288	14	permanent	permanent	ADJ
fsr-3927	288	15	over	over	ADP
fsr-3927	288	16	a	a	DET
fsr-3927	288	17	52	52	NUM
fsr-3927	288	18	-	-	PUNCT
fsr-3927	288	19	week	week	NOUN
fsr-3927	288	20	interval	interval	NOUN
fsr-3927	288	21	.	.	PUNCT
fsr-3927	289	1	funds	fund	NOUN
fsr-3927	289	2	with	with	ADP
fsr-3927	289	3	a	a	DET
fsr-3927	289	4	corresponding	correspond	VERB
fsr-3927	289	5	webs	webs	NOUN
fsr-3927	289	6	index	index	NOUN
fsr-3927	289	7	also	also	ADV
fsr-3927	289	8	experience	experience	VERB
fsr-3927	289	9	a	a	DET
fsr-3927	289	10	decrease	decrease	NOUN
fsr-3927	289	11	in	in	ADP
fsr-3927	289	12	trading	trading	NOUN
fsr-3927	289	13	volume	volume	NOUN
fsr-3927	289	14	,	,	PUNCT
fsr-3927	289	15	further	far	ADV
fsr-3927	289	16	suggesting	suggest	VERB
fsr-3927	289	17	a	a	DET
fsr-3927	289	18	migration	migration	NOUN
fsr-3927	289	19	away	away	ADV
fsr-3927	289	20	from	from	ADP
fsr-3927	289	21	cecfs	cecfs	PROPN
fsr-3927	289	22	.	.	PUNCT
fsr-3927	290	1	our	our	PRON
fsr-3927	290	2	results	result	NOUN
fsr-3927	290	3	are	be	AUX
fsr-3927	290	4	particularly	particularly	ADV
fsr-3927	290	5	important	important	ADJ
fsr-3927	290	6	to	to	ADP
fsr-3927	290	7	individual	individual	ADJ
fsr-3927	290	8	investors	investor	NOUN
fsr-3927	290	9	.	.	PUNCT
fsr-3927	291	1	country	country	NOUN
fsr-3927	291	2	specific	specific	ADJ
fsr-3927	291	3	indexes	index	NOUN
fsr-3927	291	4	,	,	PUNCT
fsr-3927	291	5	such	such	ADJ
fsr-3927	291	6	as	as	ADP
fsr-3927	291	7	webs	webs	NOUN
fsr-3927	291	8	help	help	NOUN
fsr-3927	291	9	investors	investor	NOUN
fsr-3927	291	10	optimize	optimize	VERB
fsr-3927	291	11	risk	risk	NOUN
fsr-3927	291	12	-	-	PUNCT
fsr-3927	291	13	return	return	NOUN
fsr-3927	291	14	tradeoffs	tradeoff	NOUN
fsr-3927	291	15	by	by	ADP
fsr-3927	291	16	lowering	lower	VERB
fsr-3927	291	17	the	the	DET
fsr-3927	291	18	costs	cost	NOUN
fsr-3927	291	19	of	of	ADP
fsr-3927	291	20	international	international	ADJ
fsr-3927	291	21	diversification	diversification	NOUN
fsr-3927	291	22	.	.	PUNCT
fsr-3927	292	1	competitive	competitive	ADJ
fsr-3927	292	2	pressures	pressure	NOUN
fsr-3927	292	3	force	force	VERB
fsr-3927	292	4	cecf	cecf	NOUN
fsr-3927	292	5	managers	manager	NOUN
fsr-3927	292	6	to	to	PART
fsr-3927	292	7	improve	improve	VERB
fsr-3927	292	8	performance	performance	NOUN
fsr-3927	292	9	and	and	CCONJ
fsr-3927	292	10	lower	low	ADJ
fsr-3927	292	11	agency	agency	NOUN
fsr-3927	292	12	costs	cost	NOUN
fsr-3927	292	13	,	,	PUNCT
fsr-3927	292	14	or	or	CCONJ
fsr-3927	292	15	face	face	VERB
fsr-3927	292	16	additional	additional	ADJ
fsr-3927	292	17	migratory	migratory	ADJ
fsr-3927	292	18	pressures	pressure	NOUN
fsr-3927	292	19	.	.	PUNCT
fsr-3927	293	1	nevertheless	nevertheless	ADV
fsr-3927	293	2	,	,	PUNCT
fsr-3927	293	3	a	a	DET
fsr-3927	293	4	caution	caution	NOUN
fsr-3927	293	5	to	to	ADP
fsr-3927	293	6	individual	individual	ADJ
fsr-3927	293	7	investors	investor	NOUN
fsr-3927	293	8	is	be	AUX
fsr-3927	293	9	in	in	ADP
fsr-3927	293	10	order	order	NOUN
fsr-3927	293	11	.	.	PUNCT
fsr-3927	294	1	our	our	PRON
fsr-3927	294	2	results	result	NOUN
fsr-3927	294	3	suggest	suggest	VERB
fsr-3927	294	4	that	that	SCONJ
fsr-3927	294	5	cecf	cecf	PROPN
fsr-3927	294	6	investors	investor	NOUN
fsr-3927	294	7	should	should	AUX
fsr-3927	294	8	be	be	AUX
fsr-3927	294	9	wary	wary	ADJ
fsr-3927	294	10	of	of	ADP
fsr-3927	294	11	widening	widen	VERB
fsr-3927	294	12	discounts	discount	NOUN
fsr-3927	294	13	for	for	ADP
fsr-3927	294	14	funds	fund	NOUN
fsr-3927	294	15	facing	face	VERB
fsr-3927	294	16	the	the	DET
fsr-3927	294	17	introduction	introduction	NOUN
fsr-3927	294	18	of	of	ADP
fsr-3927	294	19	a	a	DET
fsr-3927	294	20	competing	compete	VERB
fsr-3927	294	21	country	country	NOUN
fsr-3927	294	22	specific	specific	ADJ
fsr-3927	294	23	index	index	NOUN
fsr-3927	294	24	.	.	PUNCT
fsr-3927	295	1	appendix	appendix	VERB
fsr-3927	295	2	a	a	DET
fsr-3927	295	3	closed	close	VERB
fsr-3927	295	4	-	-	PUNCT
fsr-3927	295	5	end	end	NOUN
fsr-3927	295	6	country	country	NOUN
fsr-3927	295	7	funds	fund	NOUN
fsr-3927	295	8	by	by	ADP
fsr-3927	295	9	group	group	NOUN
fsr-3927	295	10	cecfs	cecfs	NOUN
fsr-3927	295	11	with	with	ADP
fsr-3927	295	12	a	a	DET
fsr-3927	295	13	corresponding	correspond	VERB
fsr-3927	295	14	webs	webs	NOUN
fsr-3927	295	15	index	index	NOUN
fsr-3927	295	16	cecfs	cecfs	NOUN
fsr-3927	295	17	without	without	ADP
fsr-3927	295	18	a	a	DET
fsr-3927	295	19	corresponding	corresponding	ADJ
fsr-3927	295	20	webs	webs	NOUN
fsr-3927	295	21	index	index	NOUN
fsr-3927	295	22	fund	fund	NOUN
fsr-3927	295	23	name	name	NOUN
fsr-3927	295	24	and	and	CCONJ
fsr-3927	295	25	symbol	symbol	NOUN
fsr-3927	295	26	webs	webs	NOUN
fsr-3927	295	27	index	index	NOUN
fsr-3927	295	28	and	and	CCONJ
fsr-3927	295	29	symbol	symbol	NOUN
fsr-3927	295	30	fund	fund	NOUN
fsr-3927	295	31	name	name	NOUN
fsr-3927	295	32	and	and	CCONJ
fsr-3927	295	33	symbol	symbol	PROPN
fsr-3927	295	34	austria	austria	PROPN
fsr-3927	295	35	fund	fund	PROPN
fsr-3927	295	36	(	(	PUNCT
fsr-3927	295	37	ost	ost	ADJ
fsr-3927	295	38	)	)	PUNCT
fsr-3927	295	39	austria	austria	PROPN
fsr-3927	295	40	(	(	PUNCT
fsr-3927	295	41	ewo	ewo	PROPN
fsr-3927	295	42	)	)	PUNCT
fsr-3927	295	43	argentina	argentina	PROPN
fsr-3927	295	44	fund	fund	PROPN
fsr-3927	295	45	(	(	PUNCT
fsr-3927	295	46	af	af	PROPN
fsr-3927	295	47	)	)	PUNCT
fsr-3927	295	48	first	first	PROPN
fsr-3927	295	49	australia	australia	PROPN
fsr-3927	295	50	fund	fund	PROPN
fsr-3927	295	51	(	(	PUNCT
fsr-3927	295	52	iaf	iaf	PROPN
fsr-3927	295	53	)	)	PUNCT
fsr-3927	295	54	australia	australia	PROPN
fsr-3927	295	55	(	(	PUNCT
fsr-3927	295	56	ewa	ewa	PROPN
fsr-3927	295	57	)	)	PUNCT
fsr-3927	295	58	brazil	brazil	PROPN
fsr-3927	295	59	fund	fund	PROPN
fsr-3927	295	60	(	(	PUNCT
fsr-3927	295	61	bzf	bzf	NOUN
fsr-3927	295	62	)	)	PUNCT
fsr-3927	295	63	canadian	canadian	ADJ
fsr-3927	295	64	general	general	ADJ
fsr-3927	295	65	investors	investor	NOUN
fsr-3927	295	66	(	(	PUNCT
fsr-3927	295	67	cgi	cgi	PROPN
fsr-3927	295	68	)	)	PUNCT
fsr-3927	295	69	canada	canada	PROPN
fsr-3927	295	70	(	(	PUNCT
fsr-3927	295	71	ewc	ewc	PROPN
fsr-3927	295	72	)	)	PUNCT
fsr-3927	295	73	brazilian	brazilian	PROPN
fsr-3927	295	74	equity	equity	NOUN
fsr-3927	295	75	fund	fund	PROPN
fsr-3927	295	76	(	(	PUNCT
fsr-3927	295	77	bzl	bzl	PROPN
fsr-3927	295	78	)	)	PUNCT
fsr-3927	295	79	france	france	PROPN
fsr-3927	295	80	growth	growth	NOUN
fsr-3927	295	81	fund	fund	NOUN
fsr-3927	295	82	(	(	PUNCT
fsr-3927	295	83	frf	frf	PROPN
fsr-3927	295	84	)	)	PUNCT
fsr-3927	295	85	france	france	PROPN
fsr-3927	295	86	(	(	PUNCT
fsr-3927	295	87	ewq	ewq	PROPN
fsr-3927	295	88	)	)	PUNCT
fsr-3927	295	89	chile	chile	PROPN
fsr-3927	295	90	fund	fund	NOUN
fsr-3927	295	91	(	(	PUNCT
fsr-3927	295	92	ch	ch	NOUN
fsr-3927	295	93	)	)	PUNCT
fsr-3927	295	94	germany	germany	PROPN
fsr-3927	295	95	fund	fund	PROPN
fsr-3927	295	96	(	(	PUNCT
fsr-3927	295	97	ger	ger	NOUN
fsr-3927	295	98	)	)	PUNCT
fsr-3927	295	99	germany	germany	PROPN
fsr-3927	295	100	(	(	PUNCT
fsr-3927	295	101	ewg	ewg	PROPN
fsr-3927	295	102	)	)	PUNCT
fsr-3927	295	103	china	china	PROPN
fsr-3927	295	104	fund	fund	PROPN
fsr-3927	295	105	(	(	PUNCT
fsr-3927	295	106	chn	chn	PROPN
fsr-3927	295	107	)	)	PUNCT
fsr-3927	295	108	new	new	PROPN
fsr-3927	295	109	germany	germany	PROPN
fsr-3927	295	110	fund	fund	PROPN
fsr-3927	295	111	(	(	PUNCT
fsr-3927	295	112	gf	gf	PROPN
fsr-3927	295	113	)	)	PUNCT
fsr-3927	295	114	germany	germany	PROPN
fsr-3927	295	115	(	(	PUNCT
fsr-3927	295	116	ewg	ewg	PROPN
fsr-3927	295	117	)	)	PUNCT
fsr-3927	295	118	first	first	PROPN
fsr-3927	295	119	israel	israel	PROPN
fsr-3927	295	120	fund	fund	PROPN
fsr-3927	295	121	(	(	PUNCT
fsr-3927	295	122	isl	isl	PROPN
fsr-3927	295	123	)	)	PUNCT
fsr-3927	295	124	italy	italy	PROPN
fsr-3927	295	125	fund	fund	PROPN
fsr-3927	295	126	(	(	PUNCT
fsr-3927	295	127	ita	ita	PROPN
fsr-3927	295	128	)	)	PUNCT
fsr-3927	295	129	italy	italy	PROPN
fsr-3927	295	130	(	(	PUNCT
fsr-3927	295	131	ewi	ewi	PROPN
fsr-3927	295	132	)	)	PUNCT
fsr-3927	295	133	first	first	PROPN
fsr-3927	295	134	philippine	philippine	ADJ
fsr-3927	295	135	fund	fund	NOUN
fsr-3927	295	136	(	(	PUNCT
fsr-3927	295	137	fpf	fpf	PROPN
fsr-3927	295	138	)	)	PUNCT
fsr-3927	295	139	japan	japan	PROPN
fsr-3927	295	140	equity	equity	PROPN
fsr-3927	295	141	fund	fund	PROPN
fsr-3927	295	142	(	(	PUNCT
fsr-3927	295	143	jeq	jeq	PROPN
fsr-3927	295	144	)	)	PUNCT
fsr-3927	295	145	japan	japan	PROPN
fsr-3927	295	146	(	(	PUNCT
fsr-3927	295	147	ewj	ewj	PROPN
fsr-3927	295	148	)	)	PUNCT
fsr-3927	295	149	greater	great	ADJ
fsr-3927	295	150	china	china	PROPN
fsr-3927	295	151	fund	fund	PROPN
fsr-3927	295	152	(	(	PUNCT
fsr-3927	295	153	gch	gch	PROPN
fsr-3927	295	154	)	)	PUNCT
fsr-3927	295	155	japan	japan	PROPN
fsr-3927	295	156	otc	otc	PROPN
fsr-3927	295	157	fund	fund	PROPN
fsr-3927	295	158	(	(	PUNCT
fsr-3927	295	159	jof	jof	PROPN
fsr-3927	295	160	)	)	PUNCT
fsr-3927	295	161	japan	japan	PROPN
fsr-3927	295	162	(	(	PUNCT
fsr-3927	295	163	ewj	ewj	PROPN
fsr-3927	295	164	)	)	PUNCT
fsr-3927	295	165	india	india	PROPN
fsr-3927	295	166	fund	fund	PROPN
fsr-3927	295	167	(	(	PUNCT
fsr-3927	295	168	ifn	ifn	PROPN
fsr-3927	295	169	)	)	PUNCT
fsr-3927	295	170	mexico	mexico	PROPN
fsr-3927	295	171	equity	equity	PROPN
fsr-3927	295	172	&	&	CCONJ
fsr-3927	295	173	income	income	PROPN
fsr-3927	295	174	fund	fund	PROPN
fsr-3927	295	175	(	(	PUNCT
fsr-3927	295	176	mxe	mxe	PROPN
fsr-3927	295	177	)	)	PUNCT
fsr-3927	295	178	mexico	mexico	PROPN
fsr-3927	295	179	(	(	PUNCT
fsr-3927	295	180	eww	eww	PROPN
fsr-3927	295	181	)	)	PUNCT
fsr-3927	295	182	india	india	PROPN
fsr-3927	295	183	growth	growth	PROPN
fsr-3927	295	184	fund	fund	PROPN
fsr-3927	295	185	(	(	PUNCT
fsr-3927	295	186	igf	igf	PROPN
fsr-3927	295	187	)	)	PUNCT
fsr-3927	295	188	emerging	emerge	VERB
fsr-3927	295	189	mexico	mexico	PROPN
fsr-3927	295	190	fund	fund	NOUN
fsr-3927	295	191	(	(	PUNCT
fsr-3927	295	192	mef	mef	PROPN
fsr-3927	295	193	)	)	PUNCT
fsr-3927	295	194	mexico	mexico	PROPN
fsr-3927	295	195	(	(	PUNCT
fsr-3927	295	196	eww	eww	PROPN
fsr-3927	295	197	)	)	PUNCT
fsr-3927	295	198	irish	irish	ADJ
fsr-3927	295	199	investment	investment	NOUN
fsr-3927	295	200	fund	fund	NOUN
fsr-3927	295	201	(	(	PUNCT
fsr-3927	295	202	ifl	ifl	PROPN
fsr-3927	295	203	)	)	PUNCT
fsr-3927	295	204	mexico	mexico	PROPN
fsr-3927	295	205	fund	fund	PROPN
fsr-3927	295	206	(	(	PUNCT
fsr-3927	295	207	mxf	mxf	PROPN
fsr-3927	295	208	)	)	PUNCT
fsr-3927	295	209	mexico	mexico	PROPN
fsr-3927	295	210	(	(	PUNCT
fsr-3927	295	211	eww	eww	PROPN
fsr-3927	295	212	)	)	PUNCT
fsr-3927	296	1	jardine	jardine	PROPN
fsr-3927	296	2	fleming	fleming	PROPN
fsr-3927	296	3	china	china	PROPN
fsr-3927	296	4	region	region	PROPN
fsr-3927	296	5	fund	fund	PROPN
fsr-3927	296	6	(	(	PUNCT
fsr-3927	296	7	jfc	jfc	PROPN
fsr-3927	296	8	)	)	PUNCT
fsr-3927	296	9	singapore	singapore	PROPN
fsr-3927	296	10	fund	fund	PROPN
fsr-3927	296	11	(	(	PUNCT
fsr-3927	296	12	sgf	sgf	PROPN
fsr-3927	296	13	)	)	PUNCT
fsr-3927	296	14	singapore	singapore	PROPN
fsr-3927	296	15	(	(	PUNCT
fsr-3927	296	16	ews	ews	PROPN
fsr-3927	296	17	)	)	PUNCT
fsr-3927	296	18	jardine	jardine	PROPN
fsr-3927	296	19	fleming	fleming	PROPN
fsr-3927	296	20	india	india	PROPN
fsr-3927	296	21	fund	fund	PROPN
fsr-3927	296	22	(	(	PUNCT
fsr-3927	296	23	jfi	jfi	PROPN
fsr-3927	296	24	)	)	PUNCT
fsr-3927	296	25	spain	spain	PROPN
fsr-3927	296	26	fund	fund	PROPN
fsr-3927	296	27	(	(	PUNCT
fsr-3927	296	28	snf	snf	PROPN
fsr-3927	296	29	)	)	PUNCT
fsr-3927	296	30	spain	spain	PROPN
fsr-3927	296	31	(	(	PUNCT
fsr-3927	296	32	ewp	ewp	PROPN
fsr-3927	296	33	)	)	PUNCT
fsr-3927	296	34	korea	korea	PROPN
fsr-3927	296	35	equity	equity	PROPN
fsr-3927	296	36	fund	fund	PROPN
fsr-3927	296	37	(	(	PUNCT
fsr-3927	296	38	kef	kef	NOUN
fsr-3927	296	39	)	)	PUNCT
fsr-3927	296	40	growth	growth	NOUN
fsr-3927	296	41	fund	fund	NOUN
fsr-3927	296	42	of	of	ADP
fsr-3927	296	43	spain	spain	PROPN
fsr-3927	296	44	(	(	PUNCT
fsr-3927	296	45	gsp	gsp	PROPN
fsr-3927	296	46	)	)	PUNCT
fsr-3927	296	47	spain	spain	PROPN
fsr-3927	296	48	(	(	PUNCT
fsr-3927	296	49	ewp	ewp	PROPN
fsr-3927	296	50	)	)	PUNCT
fsr-3927	296	51	korea	korea	PROPN
fsr-3927	296	52	fund	fund	PROPN
fsr-3927	296	53	(	(	PUNCT
fsr-3927	296	54	kf	kf	PROPN
fsr-3927	296	55	)	)	PUNCT
fsr-3927	296	56	swiss	swiss	PROPN
fsr-3927	296	57	helvetia	helvetia	PROPN
fsr-3927	296	58	fund	fund	PROPN
fsr-3927	296	59	(	(	PUNCT
fsr-3927	296	60	swz	swz	PROPN
fsr-3927	296	61	)	)	PUNCT
fsr-3927	296	62	switzerland	switzerland	PROPN
fsr-3927	296	63	(	(	PUNCT
fsr-3927	296	64	ewl	ewl	ADJ
fsr-3927	296	65	)	)	PUNCT
fsr-3927	296	66	korean	korean	ADJ
fsr-3927	296	67	investment	investment	NOUN
fsr-3927	296	68	fund	fund	NOUN
fsr-3927	296	69	(	(	PUNCT
fsr-3927	296	70	kif	kif	PROPN
fsr-3927	296	71	)	)	PUNCT
fsr-3927	296	72	united	united	PROPN
fsr-3927	296	73	kingdom	kingdom	PROPN
fsr-3927	296	74	fund	fund	PROPN
fsr-3927	296	75	(	(	PUNCT
fsr-3927	296	76	ukm	ukm	PROPN
fsr-3927	296	77	)	)	PUNCT
fsr-3927	296	78	united	united	PROPN
fsr-3927	296	79	kingdom	kingdom	PROPN
fsr-3927	296	80	(	(	PUNCT
fsr-3927	296	81	ewu	ewu	PROPN
fsr-3927	296	82	)	)	PUNCT
fsr-3927	296	83	morgan	morgan	PROPN
fsr-3927	296	84	stanley	stanley	PROPN
fsr-3927	296	85	india	india	PROPN
fsr-3927	296	86	fund	fund	PROPN
fsr-3927	296	87	(	(	PUNCT
fsr-3927	296	88	iif	iif	PROPN
fsr-3927	296	89	)	)	PUNCT
fsr-3927	296	90	new	new	PROPN
fsr-3927	296	91	south	south	PROPN
fsr-3927	296	92	africa	africa	PROPN
fsr-3927	296	93	fund	fund	PROPN
fsr-3927	296	94	(	(	PUNCT
fsr-3927	296	95	nsa	nsa	PROPN
fsr-3927	296	96	)	)	PUNCT
fsr-3927	296	97	pakistan	pakistan	PROPN
fsr-3927	296	98	investment	investment	NOUN
fsr-3927	296	99	fund	fund	NOUN
fsr-3927	296	100	(	(	PUNCT
fsr-3927	296	101	pkf	pkf	PROPN
fsr-3927	296	102	)	)	PUNCT
fsr-3927	296	103	roc	roc	PROPN
fsr-3927	296	104	taiwan	taiwan	PROPN
fsr-3927	296	105	fund	fund	PROPN
fsr-3927	296	106	(	(	PUNCT
fsr-3927	296	107	roc	roc	PROPN
fsr-3927	296	108	)	)	PUNCT
fsr-3927	296	109	taiwan	taiwan	PROPN
fsr-3927	296	110	fund	fund	PROPN
fsr-3927	296	111	(	(	PUNCT
fsr-3927	296	112	twn	twn	PROPN
fsr-3927	296	113	)	)	PUNCT
fsr-3927	296	114	templeton	templeton	PROPN
fsr-3927	296	115	china	china	PROPN
fsr-3927	296	116	world	world	PROPN
fsr-3927	296	117	fund	fund	PROPN
fsr-3927	296	118	(	(	PUNCT
fsr-3927	296	119	tch	tch	PROPN
fsr-3927	296	120	)	)	PUNCT
fsr-3927	296	121	thai	thai	NOUN
fsr-3927	296	122	capital	capital	PROPN
fsr-3927	296	123	fund	fund	PROPN
fsr-3927	296	124	(	(	PUNCT
fsr-3927	296	125	tc	tc	NOUN
fsr-3927	296	126	)	)	PUNCT
fsr-3927	296	127	thai	thai	PROPN
fsr-3927	296	128	fund	fund	PROPN
fsr-3927	296	129	(	(	PUNCT
fsr-3927	296	130	ttf	ttf	NOUN
fsr-3927	296	131	)	)	PUNCT
fsr-3927	296	132	turkish	turkish	ADJ
fsr-3927	296	133	investment	investment	NOUN
fsr-3927	296	134	fund	fund	NOUN
fsr-3927	296	135	(	(	PUNCT
fsr-3927	296	136	tkf	tkf	PROPN
fsr-3927	296	137	)	)	PUNCT
fsr-3927	296	138	274	274	NUM
fsr-3927	296	139	m.	m.	NOUN
fsr-3927	296	140	o’connor	o’connor	ADV
fsr-3927	296	141	,	,	PUNCT
fsr-3927	296	142	e.a	e.a	PROPN
fsr-3927	296	143	.	.	PROPN
fsr-3927	296	144	downe	downe	PROPN
fsr-3927	296	145	/	/	SYM
fsr-3927	296	146	financial	financial	ADJ
fsr-3927	296	147	services	service	NOUN
fsr-3927	296	148	review	review	VERB
fsr-3927	296	149	9	9	NUM
fsr-3927	296	150	(	(	PUNCT
fsr-3927	296	151	2000	2000	NUM
fsr-3927	296	152	)	)	PUNCT
fsr-3927	296	153	259–275	259–275	NUM
fsr-3927	296	154	references	reference	NOUN
fsr-3927	296	155	barclay	barclay	NOUN
fsr-3927	296	156	,	,	PUNCT
fsr-3927	296	157	m.	m.	NOUN
fsr-3927	296	158	,	,	PUNCT
fsr-3927	296	159	holderness	holderness	PROPN
fsr-3927	296	160	,	,	PUNCT
fsr-3927	296	161	c.	c.	PROPN
fsr-3927	296	162	,	,	PUNCT
fsr-3927	296	163	&	&	CCONJ
fsr-3927	296	164	pontiff	pontiff	NOUN
fsr-3927	296	165	,	,	PUNCT
fsr-3927	296	166	j.	j.	PROPN
fsr-3927	296	167	(	(	PUNCT
fsr-3927	296	168	1993	1993	NUM
fsr-3927	296	169	)	)	PUNCT
fsr-3927	296	170	.	.	PUNCT
fsr-3927	297	1	private	private	ADJ
fsr-3927	297	2	benefits	benefit	NOUN
fsr-3927	297	3	from	from	ADP
fsr-3927	297	4	block	block	NOUN
fsr-3927	297	5	ownership	ownership	NOUN
fsr-3927	297	6	and	and	CCONJ
fsr-3927	297	7	discounts	discount	NOUN
fsr-3927	297	8	on	on	ADP
fsr-3927	297	9	closed	closed	ADJ
fsr-3927	297	10	-	-	PUNCT
fsr-3927	297	11	end	end	NOUN
fsr-3927	297	12	funds.journal	funds.journal	ADJ
fsr-3927	297	13	of	of	ADP
fsr-3927	297	14	financial	financial	ADJ
fsr-3927	297	15	economics	economic	NOUN
fsr-3927	297	16	,	,	PUNCT
fsr-3927	297	17	33	33	NUM
fsr-3927	297	18	,	,	PUNCT
fsr-3927	297	19	263–291	263–291	NUM
fsr-3927	297	20	.	.	PUNCT
fsr-3927	298	1	bonser	bonser	NOUN
fsr-3927	298	2	-	-	PUNCT
fsr-3927	298	3	neal	neal	PROPN
fsr-3927	298	4	,	,	PUNCT
fsr-3927	298	5	c.	c.	PROPN
fsr-3927	298	6	,	,	PUNCT
fsr-3927	298	7	brauer	brauer	PROPN
fsr-3927	298	8	,	,	PUNCT
fsr-3927	298	9	g.	g.	PROPN
fsr-3927	298	10	,	,	PUNCT
fsr-3927	298	11	neal	neal	PROPN
fsr-3927	298	12	,	,	PUNCT
fsr-3927	298	13	r.	r.	PROPN
fsr-3927	298	14	,	,	PUNCT
fsr-3927	298	15	&	&	CCONJ
fsr-3927	298	16	wheatley	wheatley	PROPN
fsr-3927	298	17	,	,	PUNCT
fsr-3927	298	18	s.	s.	PROPN
fsr-3927	298	19	(	(	PUNCT
fsr-3927	298	20	1990	1990	NUM
fsr-3927	298	21	)	)	PUNCT
fsr-3927	298	22	.	.	PUNCT
fsr-3927	299	1	international	international	ADJ
fsr-3927	299	2	investment	investment	NOUN
fsr-3927	299	3	restrictions	restriction	NOUN
fsr-3927	299	4	and	and	CCONJ
fsr-3927	299	5	closed	closed	ADJ
fsr-3927	299	6	-	-	PUNCT
fsr-3927	299	7	end	end	NOUN
fsr-3927	299	8	country	country	NOUN
fsr-3927	299	9	fund	fund	NOUN
fsr-3927	299	10	prices.journal	prices.journal	PROPN
fsr-3927	299	11	of	of	ADP
fsr-3927	299	12	finance	finance	NOUN
fsr-3927	299	13	,	,	PUNCT
fsr-3927	299	14	28	28	NUM
fsr-3927	299	15	,	,	PUNCT
fsr-3927	299	16	523–547	523–547	NUM
fsr-3927	299	17	.	.	PUNCT
fsr-3927	300	1	brickley	brickley	PROPN
fsr-3927	300	2	,	,	PUNCT
fsr-3927	300	3	j.	j.	PROPN
fsr-3927	300	4	,	,	PUNCT
fsr-3927	300	5	manaster	manaster	PROPN
fsr-3927	300	6	,	,	PUNCT
fsr-3927	300	7	s.	s.	PROPN
fsr-3927	300	8	,	,	PUNCT
fsr-3927	300	9	&	&	CCONJ
fsr-3927	300	10	schallheim	schallheim	PROPN
fsr-3927	300	11	,	,	PUNCT
fsr-3927	300	12	j.	j.	PROPN
fsr-3927	300	13	(	(	PUNCT
fsr-3927	300	14	1991	1991	NUM
fsr-3927	300	15	)	)	PUNCT
fsr-3927	300	16	.	.	PUNCT
fsr-3927	301	1	the	the	DET
fsr-3927	301	2	tax	tax	NOUN
fsr-3927	301	3	-	-	PUNCT
fsr-3927	301	4	timing	timing	NOUN
fsr-3927	301	5	option	option	NOUN
fsr-3927	301	6	and	and	CCONJ
fsr-3927	301	7	the	the	DET
fsr-3927	301	8	discounts	discount	NOUN
fsr-3927	301	9	on	on	ADP
fsr-3927	301	10	closed	closed	ADJ
fsr-3927	301	11	-	-	PUNCT
fsr-3927	301	12	end	end	NOUN
fsr-3927	301	13	investment	investment	NOUN
fsr-3927	301	14	companies.journal	companies.journal	ADJ
fsr-3927	301	15	of	of	ADP
fsr-3927	301	16	business	business	NOUN
fsr-3927	301	17	,	,	PUNCT
fsr-3927	301	18	64	64	NUM
fsr-3927	301	19	,	,	PUNCT
fsr-3927	301	20	287–312	287–312	NUM
fsr-3927	301	21	.	.	PUNCT
fsr-3927	301	22	campbell	campbell	PROPN
fsr-3927	301	23	,	,	PUNCT
fsr-3927	301	24	j.	j.	PROPN
fsr-3927	301	25	y.	y.	PROPN
fsr-3927	301	26	,	,	PUNCT
fsr-3927	301	27	lo	lo	PROPN
fsr-3927	301	28	,	,	PUNCT
fsr-3927	301	29	a.	a.	PROPN
fsr-3927	301	30	,	,	PUNCT
fsr-3927	301	31	&	&	CCONJ
fsr-3927	301	32	mackinlay	mackinlay	PROPN
fsr-3927	301	33	,	,	PUNCT
fsr-3927	301	34	c.	c.	PROPN
fsr-3927	301	35	(	(	PUNCT
fsr-3927	301	36	1997	1997	NUM
fsr-3927	301	37	)	)	PUNCT
fsr-3927	301	38	.	.	PUNCT
fsr-3927	302	1	the	the	DET
fsr-3927	302	2	econometrics	econometric	NOUN
fsr-3927	302	3	of	of	ADP
fsr-3927	302	4	financial	financial	ADJ
fsr-3927	302	5	markets	market	NOUN
fsr-3927	302	6	.	.	PUNCT
fsr-3927	303	1	princeton	princeton	PROPN
fsr-3927	303	2	:	:	PUNCT
fsr-3927	303	3	princeton	princeton	PROPN
fsr-3927	303	4	university	university	PROPN
fsr-3927	303	5	press	press	NOUN
fsr-3927	303	6	.	.	PUNCT
fsr-3927	304	1	delong	delong	PROPN
fsr-3927	304	2	,	,	PUNCT
fsr-3927	304	3	j.	j.	PROPN
fsr-3927	304	4	,	,	PUNCT
fsr-3927	304	5	shleifer	shleifer	PROPN
fsr-3927	304	6	,	,	PUNCT
fsr-3927	304	7	a.	a.	NOUN
fsr-3927	304	8	,	,	PUNCT
fsr-3927	304	9	summers	summer	NOUN
fsr-3927	304	10	,	,	PUNCT
fsr-3927	304	11	l.	l.	PROPN
fsr-3927	304	12	,	,	PUNCT
fsr-3927	304	13	&	&	CCONJ
fsr-3927	304	14	waldmann	waldmann	PROPN
fsr-3927	304	15	,	,	PUNCT
fsr-3927	304	16	r.	r.	PROPN
fsr-3927	304	17	(	(	PUNCT
fsr-3927	304	18	1990	1990	NUM
fsr-3927	304	19	)	)	PUNCT
fsr-3927	304	20	.	.	PUNCT
fsr-3927	305	1	noise	noise	NOUN
fsr-3927	305	2	trader	trader	NOUN
fsr-3927	305	3	risk	risk	NOUN
fsr-3927	305	4	in	in	ADP
fsr-3927	305	5	financial	financial	ADJ
fsr-3927	305	6	markets.journal	markets.journal	NOUN
fsr-3927	305	7	of	of	ADP
fsr-3927	305	8	political	political	ADJ
fsr-3927	305	9	economy	economy	NOUN
fsr-3927	305	10	,	,	PUNCT
fsr-3927	305	11	98	98	NUM
fsr-3927	305	12	,	,	PUNCT
fsr-3927	305	13	703–738	703–738	NUM
fsr-3927	305	14	.	.	PUNCT
fsr-3927	306	1	errunza	errunza	ADJ
fsr-3927	306	2	,	,	PUNCT
fsr-3927	306	3	v.	v.	PROPN
fsr-3927	306	4	(	(	PUNCT
fsr-3927	306	5	1991	1991	NUM
fsr-3927	306	6	)	)	PUNCT
fsr-3927	306	7	.	.	PUNCT
fsr-3927	307	1	pricing	pricing	NOUN
fsr-3927	307	2	of	of	ADP
fsr-3927	307	3	national	national	ADJ
fsr-3927	307	4	index	index	NOUN
fsr-3927	307	5	funds.review	funds.review	NOUN
fsr-3927	307	6	of	of	ADP
fsr-3927	307	7	quantitative	quantitative	ADJ
fsr-3927	307	8	finance	finance	NOUN
fsr-3927	307	9	and	and	CCONJ
fsr-3927	307	10	accounting	accounting	NOUN
fsr-3927	307	11	,	,	PUNCT
fsr-3927	307	12	1	1	NUM
fsr-3927	307	13	,	,	PUNCT
fsr-3927	307	14	91–100	91–100	PROPN
fsr-3927	307	15	.	.	PUNCT
fsr-3927	307	16	lee	lee	PROPN
fsr-3927	307	17	,	,	PUNCT
fsr-3927	307	18	c.	c.	PROPN
fsr-3927	307	19	,	,	PUNCT
fsr-3927	307	20	shleifer	shleifer	PROPN
fsr-3927	307	21	a.	a.	PROPN
fsr-3927	307	22	,	,	PUNCT
fsr-3927	307	23	&	&	CCONJ
fsr-3927	307	24	thaler	thaler	PROPN
fsr-3927	307	25	,	,	PUNCT
fsr-3927	307	26	r.	r.	PROPN
fsr-3927	307	27	(	(	PUNCT
fsr-3927	307	28	1991	1991	NUM
fsr-3927	307	29	)	)	PUNCT
fsr-3927	307	30	.	.	PUNCT
fsr-3927	308	1	investor	investor	NOUN
fsr-3927	308	2	sentiment	sentiment	NOUN
fsr-3927	308	3	and	and	CCONJ
fsr-3927	308	4	the	the	DET
fsr-3927	308	5	closed	close	VERB
fsr-3927	308	6	-	-	PUNCT
fsr-3927	308	7	end	end	NOUN
fsr-3927	308	8	fund	fund	NOUN
fsr-3927	308	9	puzzle.journal	puzzle.journal	ADJ
fsr-3927	308	10	of	of	ADP
fsr-3927	308	11	finance	finance	NOUN
fsr-3927	308	12	,	,	PUNCT
fsr-3927	308	13	46	46	NUM
fsr-3927	308	14	,	,	PUNCT
fsr-3927	308	15	76–110	76–110	PROPN
fsr-3927	308	16	.	.	PUNCT
fsr-3927	308	17	levy	levy	NOUN
fsr-3927	308	18	-	-	PUNCT
fsr-3927	308	19	yeyati	yeyati	PROPN
fsr-3927	308	20	,	,	PUNCT
fsr-3927	308	21	e.	e.	PROPN
fsr-3927	308	22	,	,	PUNCT
fsr-3927	308	23	&	&	CCONJ
fsr-3927	308	24	ubide	ubide	PROPN
fsr-3927	308	25	,	,	PUNCT
fsr-3927	308	26	a.	a.	NOUN
fsr-3927	308	27	(	(	PUNCT
fsr-3927	308	28	1998	1998	NUM
fsr-3927	308	29	)	)	PUNCT
fsr-3927	308	30	.	.	PUNCT
fsr-3927	309	1	crises	crisis	NOUN
fsr-3927	309	2	,	,	PUNCT
fsr-3927	309	3	contagion	contagion	NOUN
fsr-3927	309	4	and	and	CCONJ
fsr-3927	309	5	the	the	DET
fsr-3927	309	6	closed	close	VERB
fsr-3927	309	7	-	-	PUNCT
fsr-3927	309	8	end	end	NOUN
fsr-3927	309	9	country	country	NOUN
fsr-3927	309	10	fund	fund	NOUN
fsr-3927	309	11	puzzle	puzzle	NOUN
fsr-3927	309	12	.	.	PUNCT
fsr-3927	310	1	working	work	VERB
fsr-3927	310	2	paper	paper	NOUN
fsr-3927	310	3	,	,	PUNCT
fsr-3927	310	4	international	international	ADJ
fsr-3927	310	5	monetary	monetary	ADJ
fsr-3927	310	6	fund	fund	NOUN
fsr-3927	310	7	.	.	PUNCT
fsr-3927	311	1	neal	neal	PROPN
fsr-3927	311	2	,	,	PUNCT
fsr-3927	311	3	r.	r.	PROPN
fsr-3927	311	4	,	,	PUNCT
fsr-3927	311	5	&	&	CCONJ
fsr-3927	311	6	wheatley	wheatley	PROPN
fsr-3927	311	7	,	,	PUNCT
fsr-3927	311	8	s.	s.	PROPN
fsr-3927	311	9	(	(	PUNCT
fsr-3927	311	10	1998	1998	NUM
fsr-3927	311	11	)	)	PUNCT
fsr-3927	311	12	.	.	PUNCT
fsr-3927	312	1	do	do	VERB
fsr-3927	312	2	measures	measure	NOUN
fsr-3927	312	3	of	of	ADP
fsr-3927	312	4	investor	investor	NOUN
fsr-3927	312	5	sentiment	sentiment	NOUN
fsr-3927	312	6	predict	predict	VERB
fsr-3927	312	7	returns?journal	returns?journal	PROPN
fsr-3927	312	8	of	of	ADP
fsr-3927	312	9	financial	financial	ADJ
fsr-3927	312	10	and	and	CCONJ
fsr-3927	312	11	quantitative	quantitative	ADJ
fsr-3927	312	12	analysis	analysis	NOUN
fsr-3927	312	13	,	,	PUNCT
fsr-3927	312	14	33	33	NUM
fsr-3927	312	15	(	(	PUNCT
fsr-3927	312	16	4	4	NUM
fsr-3927	312	17	)	)	PUNCT
fsr-3927	312	18	,	,	PUNCT
fsr-3927	312	19	523–547	523–547	NUM
fsr-3927	312	20	.	.	PUNCT
fsr-3927	313	1	pontiff	pontiff	NOUN
fsr-3927	313	2	,	,	PUNCT
fsr-3927	313	3	j.	j.	PROPN
fsr-3927	313	4	(	(	PUNCT
fsr-3927	313	5	1995	1995	NUM
fsr-3927	313	6	)	)	PUNCT
fsr-3927	313	7	.	.	PUNCT
fsr-3927	314	1	closed	close	VERB
fsr-3927	314	2	-	-	PUNCT
fsr-3927	314	3	end	end	NOUN
fsr-3927	314	4	fund	fund	NOUN
fsr-3927	314	5	premiums	premium	NOUN
fsr-3927	314	6	and	and	CCONJ
fsr-3927	314	7	returns	return	NOUN
fsr-3927	314	8	:	:	PUNCT
fsr-3927	314	9	implications	implication	NOUN
fsr-3927	314	10	for	for	ADP
fsr-3927	314	11	financial	financial	ADJ
fsr-3927	314	12	market	market	NOUN
fsr-3927	314	13	equilibrium.journal	equilibrium.journal	ADJ
fsr-3927	314	14	of	of	ADP
fsr-3927	314	15	financial	financial	ADJ
fsr-3927	314	16	economics	economic	NOUN
fsr-3927	314	17	,	,	PUNCT
fsr-3927	314	18	37	37	NUM
fsr-3927	314	19	,	,	PUNCT
fsr-3927	314	20	341–367	341–367	NUM
fsr-3927	314	21	.	.	PUNCT
fsr-3927	315	1	richard	richard	PROPN
fsr-3927	315	2	,	,	PUNCT
fsr-3927	315	3	j.e	j.e	PROPN
fsr-3927	315	4	.	.	PROPN
fsr-3927	315	5	,	,	PUNCT
fsr-3927	315	6	&	&	CCONJ
fsr-3927	315	7	wiggins	wiggins	PROPN
fsr-3927	315	8	,	,	PUNCT
fsr-3927	315	9	j.	j.	PROPN
fsr-3927	315	10	b.	b.	PROPN
fsr-3927	315	11	(	(	PUNCT
fsr-3927	315	12	2000	2000	NUM
fsr-3927	315	13	)	)	PUNCT
fsr-3927	315	14	.	.	PUNCT
fsr-3927	316	1	the	the	DET
fsr-3927	316	2	information	information	NOUN
fsr-3927	316	3	content	content	NOUN
fsr-3927	316	4	of	of	ADP
fsr-3927	316	5	closed	close	VERB
fsr-3927	316	6	-	-	PUNCT
fsr-3927	316	7	end	end	NOUN
fsr-3927	316	8	country	country	NOUN
fsr-3927	316	9	fund	fund	NOUN
fsr-3927	316	10	discounts.financial	discounts.financial	PROPN
fsr-3927	316	11	services	service	NOUN
fsr-3927	316	12	review	review	NOUN
fsr-3927	316	13	,	,	PUNCT
fsr-3927	316	14	9	9	NUM
fsr-3927	316	15	(	(	PUNCT
fsr-3927	316	16	2	2	NUM
fsr-3927	316	17	)	)	PUNCT
fsr-3927	316	18	,	,	PUNCT
fsr-3927	316	19	171–182	171–182	NUM
fsr-3927	316	20	.	.	PUNCT
fsr-3927	317	1	seyhun	seyhun	PROPN
fsr-3927	317	2	,	,	PUNCT
fsr-3927	317	3	h.	h.	PROPN
fsr-3927	317	4	,	,	PUNCT
fsr-3927	317	5	&	&	CCONJ
fsr-3927	317	6	skinner	skinner	PROPN
fsr-3927	317	7	,	,	PUNCT
fsr-3927	317	8	d.	d.	PROPN
fsr-3927	317	9	(	(	PUNCT
fsr-3927	317	10	1994	1994	NUM
fsr-3927	317	11	)	)	PUNCT
fsr-3927	317	12	.	.	PUNCT
fsr-3927	318	1	how	how	SCONJ
fsr-3927	318	2	do	do	AUX
fsr-3927	318	3	taxes	taxis	NOUN
fsr-3927	318	4	affect	affect	VERB
fsr-3927	318	5	investors	investor	NOUN
fsr-3927	318	6	’	’	PART
fsr-3927	318	7	stock	stock	NOUN
fsr-3927	318	8	market	market	NOUN
fsr-3927	318	9	realizations	realization	NOUN
fsr-3927	318	10	?	?	PUNCT
fsr-3927	319	1	evidence	evidence	NOUN
fsr-3927	319	2	from	from	ADP
fsr-3927	319	3	tax	tax	NOUN
fsr-3927	319	4	-	-	PUNCT
fsr-3927	319	5	return	return	NOUN
fsr-3927	319	6	panel	panel	NOUN
fsr-3927	319	7	data.journal	data.journal	ADJ
fsr-3927	319	8	of	of	ADP
fsr-3927	319	9	business	business	NOUN
fsr-3927	319	10	,	,	PUNCT
fsr-3927	319	11	67	67	NUM
fsr-3927	319	12	,	,	PUNCT
fsr-3927	319	13	231–262	231–262	NUM
fsr-3927	319	14	.	.	PUNCT
fsr-3927	320	1	shipper	shipper	NOUN
fsr-3927	320	2	,	,	PUNCT
fsr-3927	320	3	k.	k.	PROPN
fsr-3927	320	4	,	,	PUNCT
fsr-3927	320	5	&	&	CCONJ
fsr-3927	320	6	thompson	thompson	PROPN
fsr-3927	320	7	,	,	PUNCT
fsr-3927	320	8	r.	r.	PROPN
fsr-3927	320	9	(	(	PUNCT
fsr-3927	320	10	1983	1983	NUM
fsr-3927	320	11	)	)	PUNCT
fsr-3927	320	12	.	.	PUNCT
fsr-3927	321	1	the	the	DET
fsr-3927	321	2	impact	impact	NOUN
fsr-3927	321	3	of	of	ADP
fsr-3927	321	4	merger	merger	NOUN
fsr-3927	321	5	-	-	PUNCT
fsr-3927	321	6	related	relate	VERB
fsr-3927	321	7	regulations	regulation	NOUN
fsr-3927	321	8	on	on	ADP
fsr-3927	321	9	shareholders	shareholder	NOUN
fsr-3927	321	10	of	of	ADP
fsr-3927	321	11	acquiring	acquire	VERB
fsr-3927	321	12	firms	firm	NOUN
fsr-3927	321	13	.	.	PUNCT
fsr-3927	322	1	journal	journal	NOUN
fsr-3927	322	2	of	of	ADP
fsr-3927	322	3	accounting	accounting	NOUN
fsr-3927	322	4	research	research	NOUN
fsr-3927	322	5	,	,	PUNCT
fsr-3927	322	6	21	21	NUM
fsr-3927	322	7	(	(	PUNCT
fsr-3927	322	8	1	1	NUM
fsr-3927	322	9	)	)	PUNCT
fsr-3927	322	10	,	,	PUNCT
fsr-3927	322	11	184–221	184–221	NUM
fsr-3927	322	12	.	.	PUNCT
fsr-3927	323	1	275	275	NUM
fsr-3927	323	2	m.	m.	NOUN
fsr-3927	323	3	o’connor	o’connor	ADV
fsr-3927	323	4	,	,	PUNCT
fsr-3927	323	5	e.a	e.a	PROPN
fsr-3927	323	6	.	.	PROPN
fsr-3927	323	7	downe	downe	PROPN
fsr-3927	323	8	/	/	SYM
fsr-3927	323	9	financial	financial	ADJ
fsr-3927	323	10	services	service	NOUN
fsr-3927	323	11	review	review	VERB
fsr-3927	323	12	9	9	NUM
fsr-3927	323	13	(	(	PUNCT
fsr-3927	323	14	2000	2000	NUM
fsr-3927	323	15	)	)	PUNCT
fsr-3927	324	1	259–275	259–275	NUM