id	sid	tid	token	lemma	pos
fbem-11013	1	1	frontiers	frontier	NOUN
fbem-11013	1	2	in	in	ADP
fbem-11013	1	3	business	business	NOUN
fbem-11013	1	4	,	,	PUNCT
fbem-11013	1	5	economics	economic	NOUN
fbem-11013	1	6	and	and	CCONJ
fbem-11013	1	7	management	management	NOUN
fbem-11013	1	8	issn	issn	PROPN
fbem-11013	1	9	:	:	PUNCT
fbem-11013	1	10	2766	2766	NUM
fbem-11013	1	11	-	-	PUNCT
fbem-11013	1	12	824x	824x	NUM
fbem-11013	1	13	|	|	ADJ
fbem-11013	1	14	vol	vol	NOUN
fbem-11013	1	15	.	.	PROPN
fbem-11013	2	1	10	10	NUM
fbem-11013	2	2	,	,	PUNCT
fbem-11013	2	3	no	no	INTJ
fbem-11013	2	4	.	.	NOUN
fbem-11013	2	5	2	2	NUM
fbem-11013	2	6	,	,	PUNCT
fbem-11013	2	7	2023	2023	NUM
fbem-11013	2	8	249	249	NUM
fbem-11013	2	9	market	market	NOUN
fbem-11013	2	10	mispricing	misprice	VERB
fbem-11013	2	11	timing	timing	NOUN
fbem-11013	2	12	and	and	CCONJ
fbem-11013	2	13	post‐acquisition	post‐acquisition	NOUN
fbem-11013	2	14	performance	performance	NOUN
fbem-11013	2	15	:	:	PUNCT
fbem-11013	2	16	evidence	evidence	NOUN
fbem-11013	2	17	from	from	ADP
fbem-11013	2	18	chinese	chinese	PROPN
fbem-11013	2	19	a‐share	a‐share	PUNCT
fbem-11013	2	20	firms	firm	NOUN
fbem-11013	2	21	jiachen	jiachen	PROPN
fbem-11013	2	22	zhang1	zhang1	PROPN
fbem-11013	2	23	,	,	PUNCT
fbem-11013	2	24	brian	brian	PROPN
fbem-11013	2	25	sheng	sheng	PROPN
fbem-11013	2	26	-	-	PUNCT
fbem-11013	2	27	xian	xian	PROPN
fbem-11013	2	28	teo2	teo2	PROPN
fbem-11013	2	29	,	,	PUNCT
fbem-11013	2	30	*	*	SYM
fbem-11013	2	31	1	1	NUM
fbem-11013	2	32	graduate	graduate	NOUN
fbem-11013	2	33	school	school	NOUN
fbem-11013	2	34	of	of	ADP
fbem-11013	2	35	management	management	NOUN
fbem-11013	2	36	,	,	PUNCT
fbem-11013	2	37	management	management	NOUN
fbem-11013	2	38	and	and	CCONJ
fbem-11013	2	39	science	science	NOUN
fbem-11013	2	40	university	university	PROPN
fbem-11013	2	41	,	,	PUNCT
fbem-11013	2	42	shah	shah	PROPN
fbem-11013	2	43	alam	alam	PROPN
fbem-11013	2	44	,	,	PUNCT
fbem-11013	2	45	40100	40100	NUM
fbem-11013	2	46	,	,	PUNCT
fbem-11013	2	47	malaysia	malaysia	PROPN
fbem-11013	2	48	2	2	NUM
fbem-11013	2	49	international	international	ADJ
fbem-11013	2	50	academic	academic	PROPN
fbem-11013	2	51	affairs	affairs	PROPN
fbem-11013	2	52	department	department	PROPN
fbem-11013	2	53	,	,	PUNCT
fbem-11013	2	54	management	management	NOUN
fbem-11013	2	55	and	and	CCONJ
fbem-11013	2	56	science	science	NOUN
fbem-11013	2	57	university	university	PROPN
fbem-11013	2	58	,	,	PUNCT
fbem-11013	2	59	shah	shah	PROPN
fbem-11013	2	60	alam	alam	PROPN
fbem-11013	2	61	,	,	PUNCT
fbem-11013	2	62	40100	40100	NUM
fbem-11013	2	63	,	,	PUNCT
fbem-11013	2	64	malaysia	malaysia	PROPN
fbem-11013	2	65	*	*	PUNCT
fbem-11013	2	66	corresponding	correspond	VERB
fbem-11013	2	67	author	author	NOUN
fbem-11013	2	68	:	:	PUNCT
fbem-11013	2	69	brian	brian	PROPN
fbem-11013	2	70	sheng	sheng	PROPN
fbem-11013	2	71	-	-	PUNCT
fbem-11013	2	72	xian	xian	PROPN
fbem-11013	2	73	teo	teo	PROPN
fbem-11013	2	74	(	(	PUNCT
fbem-11013	2	75	email	email	NOUN
fbem-11013	2	76	:	:	PUNCT
fbem-11013	2	77	brian_teo@msu.edu.my	brian_teo@msu.edu.my	NUM
fbem-11013	2	78	)	)	PUNCT
fbem-11013	3	1	abstract	abstract	NOUN
fbem-11013	3	2	:	:	PUNCT
fbem-11013	3	3	this	this	DET
fbem-11013	3	4	study	study	NOUN
fbem-11013	3	5	examines	examine	VERB
fbem-11013	3	6	the	the	DET
fbem-11013	3	7	impact	impact	NOUN
fbem-11013	3	8	of	of	ADP
fbem-11013	3	9	market	market	NOUN
fbem-11013	3	10	mispricing	misprice	VERB
fbem-11013	3	11	timing	timing	NOUN
fbem-11013	3	12	on	on	ADP
fbem-11013	3	13	the	the	DET
fbem-11013	3	14	short	short	ADJ
fbem-11013	3	15	-	-	PUNCT
fbem-11013	3	16	term	term	NOUN
fbem-11013	3	17	and	and	CCONJ
fbem-11013	3	18	long	long	ADJ
fbem-11013	3	19	-	-	PUNCT
fbem-11013	3	20	term	term	NOUN
fbem-11013	3	21	performance	performance	NOUN
fbem-11013	3	22	of	of	ADP
fbem-11013	3	23	acquiring	acquire	VERB
fbem-11013	3	24	firms	firm	NOUN
fbem-11013	3	25	in	in	ADP
fbem-11013	3	26	the	the	DET
fbem-11013	3	27	context	context	NOUN
fbem-11013	3	28	of	of	ADP
fbem-11013	3	29	china	china	PROPN
fbem-11013	3	30	's	's	PART
fbem-11013	3	31	capital	capital	NOUN
fbem-11013	3	32	market	market	NOUN
fbem-11013	3	33	.	.	PUNCT
fbem-11013	4	1	using	use	VERB
fbem-11013	4	2	a	a	DET
fbem-11013	4	3	comprehensive	comprehensive	ADJ
fbem-11013	4	4	dataset	dataset	NOUN
fbem-11013	4	5	of	of	ADP
fbem-11013	4	6	a	a	DET
fbem-11013	4	7	-	-	PUNCT
fbem-11013	4	8	share	share	NOUN
fbem-11013	4	9	listed	list	VERB
fbem-11013	4	10	companies	company	NOUN
fbem-11013	4	11	engaged	engage	VERB
fbem-11013	4	12	in	in	ADP
fbem-11013	4	13	mergers	merger	NOUN
fbem-11013	4	14	and	and	CCONJ
fbem-11013	4	15	acquisitions	acquisition	NOUN
fbem-11013	4	16	(	(	PUNCT
fbem-11013	4	17	m&a	m&a	PROPN
fbem-11013	4	18	)	)	PUNCT
fbem-11013	4	19	between	between	ADP
fbem-11013	4	20	2007	2007	NUM
fbem-11013	4	21	and	and	CCONJ
fbem-11013	4	22	2021	2021	NUM
fbem-11013	4	23	,	,	PUNCT
fbem-11013	4	24	we	we	PRON
fbem-11013	4	25	investigate	investigate	VERB
fbem-11013	4	26	whether	whether	SCONJ
fbem-11013	4	27	m&a	m&a	PROPN
fbem-11013	4	28	activities	activity	NOUN
fbem-11013	4	29	conducted	conduct	VERB
fbem-11013	4	30	during	during	ADP
fbem-11013	4	31	periods	period	NOUN
fbem-11013	4	32	of	of	ADP
fbem-11013	4	33	market	market	NOUN
fbem-11013	4	34	overvaluation	overvaluation	NOUN
fbem-11013	4	35	lead	lead	VERB
fbem-11013	4	36	to	to	ADP
fbem-11013	4	37	enhanced	enhance	VERB
fbem-11013	4	38	short	short	ADJ
fbem-11013	4	39	-	-	PUNCT
fbem-11013	4	40	term	term	NOUN
fbem-11013	4	41	performance	performance	NOUN
fbem-11013	4	42	while	while	SCONJ
fbem-11013	4	43	failing	fail	VERB
fbem-11013	4	44	to	to	PART
fbem-11013	4	45	generate	generate	VERB
fbem-11013	4	46	sustained	sustained	ADJ
fbem-11013	4	47	long	long	ADJ
fbem-11013	4	48	-	-	PUNCT
fbem-11013	4	49	term	term	NOUN
fbem-11013	4	50	benefits	benefit	NOUN
fbem-11013	4	51	.	.	PUNCT
fbem-11013	5	1	our	our	PRON
fbem-11013	5	2	findings	finding	NOUN
fbem-11013	5	3	reveal	reveal	VERB
fbem-11013	5	4	that	that	SCONJ
fbem-11013	5	5	acquisitions	acquisition	NOUN
fbem-11013	5	6	executed	execute	VERB
fbem-11013	5	7	during	during	ADP
fbem-11013	5	8	market	market	NOUN
fbem-11013	5	9	overvaluation	overvaluation	NOUN
fbem-11013	5	10	exhibit	exhibit	NOUN
fbem-11013	5	11	significantly	significantly	ADV
fbem-11013	5	12	improved	improve	VERB
fbem-11013	5	13	short	short	ADJ
fbem-11013	5	14	-	-	PUNCT
fbem-11013	5	15	term	term	NOUN
fbem-11013	5	16	stock	stock	NOUN
fbem-11013	5	17	market	market	NOUN
fbem-11013	5	18	performance	performance	NOUN
fbem-11013	5	19	,	,	PUNCT
fbem-11013	5	20	reflecting	reflect	VERB
fbem-11013	5	21	the	the	DET
fbem-11013	5	22	alignment	alignment	NOUN
fbem-11013	5	23	of	of	ADP
fbem-11013	5	24	merger	merger	NOUN
fbem-11013	5	25	announcements	announcement	NOUN
fbem-11013	5	26	with	with	ADP
fbem-11013	5	27	optimistic	optimistic	ADJ
fbem-11013	5	28	investor	investor	NOUN
fbem-11013	5	29	sentiment	sentiment	NOUN
fbem-11013	5	30	.	.	PUNCT
fbem-11013	6	1	however	however	ADV
fbem-11013	6	2	,	,	PUNCT
fbem-11013	6	3	such	such	ADJ
fbem-11013	6	4	positive	positive	ADJ
fbem-11013	6	5	effects	effect	NOUN
fbem-11013	6	6	on	on	ADP
fbem-11013	6	7	short	short	ADJ
fbem-11013	6	8	-	-	PUNCT
fbem-11013	6	9	term	term	NOUN
fbem-11013	6	10	performance	performance	NOUN
fbem-11013	6	11	do	do	AUX
fbem-11013	6	12	not	not	PART
fbem-11013	6	13	extend	extend	VERB
fbem-11013	6	14	to	to	ADP
fbem-11013	6	15	long	long	ADJ
fbem-11013	6	16	-	-	PUNCT
fbem-11013	6	17	term	term	NOUN
fbem-11013	6	18	outcomes	outcome	NOUN
fbem-11013	6	19	.	.	PUNCT
fbem-11013	7	1	the	the	DET
fbem-11013	7	2	study	study	NOUN
fbem-11013	7	3	underscores	underscore	VERB
fbem-11013	7	4	the	the	DET
fbem-11013	7	5	critical	critical	ADJ
fbem-11013	7	6	influence	influence	NOUN
fbem-11013	7	7	of	of	ADP
fbem-11013	7	8	market	market	NOUN
fbem-11013	7	9	timing	timing	NOUN
fbem-11013	7	10	on	on	ADP
fbem-11013	7	11	the	the	DET
fbem-11013	7	12	immediate	immediate	ADJ
fbem-11013	7	13	post	post	ADJ
fbem-11013	7	14	-	-	ADJ
fbem-11013	7	15	acquisition	acquisition	ADJ
fbem-11013	7	16	performance	performance	NOUN
fbem-11013	7	17	of	of	ADP
fbem-11013	7	18	acquiring	acquire	VERB
fbem-11013	7	19	firms	firm	NOUN
fbem-11013	7	20	but	but	CCONJ
fbem-11013	7	21	highlights	highlight	VERB
fbem-11013	7	22	its	its	PRON
fbem-11013	7	23	limited	limited	ADJ
fbem-11013	7	24	impact	impact	NOUN
fbem-11013	7	25	on	on	ADP
fbem-11013	7	26	long	long	ADJ
fbem-11013	7	27	-	-	PUNCT
fbem-11013	7	28	term	term	NOUN
fbem-11013	7	29	financial	financial	ADJ
fbem-11013	7	30	and	and	CCONJ
fbem-11013	7	31	market	market	NOUN
fbem-11013	7	32	performance	performance	NOUN
fbem-11013	7	33	.	.	PUNCT
fbem-11013	8	1	these	these	DET
fbem-11013	8	2	insights	insight	NOUN
fbem-11013	8	3	contribute	contribute	VERB
fbem-11013	8	4	to	to	ADP
fbem-11013	8	5	a	a	DET
fbem-11013	8	6	better	well	ADJ
fbem-11013	8	7	understanding	understanding	NOUN
fbem-11013	8	8	of	of	ADP
fbem-11013	8	9	m&a	m&a	PROPN
fbem-11013	8	10	behavior	behavior	NOUN
fbem-11013	8	11	within	within	ADP
fbem-11013	8	12	the	the	DET
fbem-11013	8	13	chinese	chinese	ADJ
fbem-11013	8	14	capital	capital	NOUN
fbem-11013	8	15	market	market	NOUN
fbem-11013	8	16	,	,	PUNCT
fbem-11013	8	17	demonstrating	demonstrate	VERB
fbem-11013	8	18	that	that	SCONJ
fbem-11013	8	19	while	while	SCONJ
fbem-11013	8	20	capitalizing	capitalize	VERB
fbem-11013	8	21	on	on	ADP
fbem-11013	8	22	market	market	NOUN
fbem-11013	8	23	mispricing	mispricing	NOUN
fbem-11013	8	24	can	can	AUX
fbem-11013	8	25	yield	yield	VERB
fbem-11013	8	26	short	short	ADJ
fbem-11013	8	27	-	-	PUNCT
fbem-11013	8	28	term	term	NOUN
fbem-11013	8	29	advantages	advantage	NOUN
fbem-11013	8	30	,	,	PUNCT
fbem-11013	8	31	sustainable	sustainable	ADJ
fbem-11013	8	32	long	long	ADJ
fbem-11013	8	33	-	-	PUNCT
fbem-11013	8	34	term	term	NOUN
fbem-11013	8	35	gains	gain	NOUN
fbem-11013	8	36	hinge	hinge	NOUN
fbem-11013	8	37	on	on	ADP
fbem-11013	8	38	other	other	ADJ
fbem-11013	8	39	factors	factor	NOUN
fbem-11013	8	40	beyond	beyond	ADP
fbem-11013	8	41	market	market	NOUN
fbem-11013	8	42	timing	timing	NOUN
fbem-11013	8	43	.	.	PUNCT
fbem-11013	9	1	keywords	keyword	NOUN
fbem-11013	9	2	:	:	PUNCT
fbem-11013	9	3	mergers	merger	NOUN
fbem-11013	9	4	and	and	CCONJ
fbem-11013	9	5	acquisitions	acquisition	NOUN
fbem-11013	9	6	,	,	PUNCT
fbem-11013	9	7	market	market	NOUN
fbem-11013	9	8	mispricing	misprice	VERB
fbem-11013	9	9	timing	timing	NOUN
fbem-11013	9	10	,	,	PUNCT
fbem-11013	9	11	post	post	ADJ
fbem-11013	9	12	-	-	ADJ
fbem-11013	9	13	acquisition	acquisition	NOUN
fbem-11013	9	14	performance	performance	NOUN
fbem-11013	9	15	,	,	PUNCT
fbem-11013	9	16	china	china	PROPN
fbem-11013	9	17	's	's	PART
fbem-11013	9	18	capital	capital	NOUN
fbem-11013	9	19	market	market	NOUN
fbem-11013	9	20	.	.	PUNCT
fbem-11013	10	1	1	1	X
fbem-11013	10	2	.	.	X
fbem-11013	10	3	introduction	introduction	NOUN
fbem-11013	10	4	the	the	DET
fbem-11013	10	5	incidence	incidence	NOUN
fbem-11013	10	6	of	of	ADP
fbem-11013	10	7	mergers	merger	NOUN
fbem-11013	10	8	and	and	CCONJ
fbem-11013	10	9	acquisitions	acquisition	NOUN
fbem-11013	10	10	transcends	transcend	VERB
fbem-11013	10	11	isolation	isolation	NOUN
fbem-11013	10	12	.	.	PUNCT
fbem-11013	11	1	micro	micro	NOUN
fbem-11013	11	2	enterprises	enterprise	NOUN
fbem-11013	11	3	,	,	PUNCT
fbem-11013	11	4	as	as	SCONJ
fbem-11013	11	5	the	the	DET
fbem-11013	11	6	foundational	foundational	ADJ
fbem-11013	11	7	units	unit	NOUN
fbem-11013	11	8	of	of	ADP
fbem-11013	11	9	the	the	DET
fbem-11013	11	10	macro	macro	ADJ
fbem-11013	11	11	economy	economy	NOUN
fbem-11013	11	12	,	,	PUNCT
fbem-11013	11	13	inherently	inherently	ADV
fbem-11013	11	14	reside	reside	VERB
fbem-11013	11	15	within	within	ADP
fbem-11013	11	16	the	the	DET
fbem-11013	11	17	capital	capital	NOUN
fbem-11013	11	18	market	market	NOUN
fbem-11013	11	19	.	.	PUNCT
fbem-11013	12	1	decisions	decision	NOUN
fbem-11013	12	2	pertaining	pertain	VERB
fbem-11013	12	3	to	to	ADP
fbem-11013	12	4	enterprise	enterprise	NOUN
fbem-11013	12	5	mergers	merger	NOUN
fbem-11013	12	6	and	and	CCONJ
fbem-11013	12	7	acquisitions	acquisition	NOUN
fbem-11013	12	8	are	be	AUX
fbem-11013	12	9	shaped	shape	VERB
fbem-11013	12	10	not	not	PART
fbem-11013	12	11	only	only	ADV
fbem-11013	12	12	by	by	ADP
fbem-11013	12	13	internal	internal	ADJ
fbem-11013	12	14	wealth	wealth	NOUN
fbem-11013	12	15	accumulation	accumulation	NOUN
fbem-11013	12	16	but	but	CCONJ
fbem-11013	12	17	also	also	ADV
fbem-11013	12	18	confined	confine	VERB
fbem-11013	12	19	by	by	ADP
fbem-11013	12	20	the	the	DET
fbem-11013	12	21	external	external	ADJ
fbem-11013	12	22	market	market	NOUN
fbem-11013	12	23	milieu	milieu	NOUN
fbem-11013	12	24	[	[	X
fbem-11013	12	25	1	1	NUM
fbem-11013	12	26	]	]	PUNCT
fbem-11013	12	27	.	.	PUNCT
fbem-11013	13	1	a	a	DET
fbem-11013	13	2	robust	robust	ADJ
fbem-11013	13	3	correlation	correlation	NOUN
fbem-11013	13	4	between	between	ADP
fbem-11013	13	5	china	china	PROPN
fbem-11013	13	6	's	's	PART
fbem-11013	13	7	m&a	m&a	PROPN
fbem-11013	13	8	activities	activity	NOUN
fbem-11013	13	9	and	and	CCONJ
fbem-11013	13	10	the	the	DET
fbem-11013	13	11	stock	stock	NOUN
fbem-11013	13	12	market	market	NOUN
fbem-11013	13	13	has	have	AUX
fbem-11013	13	14	been	be	AUX
fbem-11013	13	15	uncovered	uncover	VERB
fbem-11013	13	16	through	through	ADP
fbem-11013	13	17	research	research	NOUN
fbem-11013	13	18	.	.	PUNCT
fbem-11013	14	1	concurrent	concurrent	ADJ
fbem-11013	14	2	with	with	ADP
fbem-11013	14	3	stock	stock	NOUN
fbem-11013	14	4	market	market	NOUN
fbem-11013	14	5	fluctuations	fluctuation	NOUN
fbem-11013	14	6	,	,	PUNCT
fbem-11013	14	7	notable	notable	ADJ
fbem-11013	14	8	oscillations	oscillation	NOUN
fbem-11013	14	9	in	in	ADP
fbem-11013	14	10	china	china	PROPN
fbem-11013	14	11	's	's	PART
fbem-11013	14	12	m&a	m&a	PROPN
fbem-11013	14	13	landscape	landscape	NOUN
fbem-11013	14	14	have	have	AUX
fbem-11013	14	15	also	also	ADV
fbem-11013	14	16	come	come	VERB
fbem-11013	14	17	to	to	ADP
fbem-11013	14	18	light	light	NOUN
fbem-11013	14	19	[	[	X
fbem-11013	14	20	2	2	NUM
fbem-11013	14	21	,	,	PUNCT
fbem-11013	14	22	3	3	NUM
fbem-11013	14	23	]	]	PUNCT
fbem-11013	14	24	.	.	PUNCT
fbem-11013	15	1	for	for	ADP
fbem-11013	15	2	instance	instance	NOUN
fbem-11013	15	3	,	,	PUNCT
fbem-11013	15	4	data	datum	NOUN
fbem-11013	15	5	from	from	ADP
fbem-11013	15	6	the	the	DET
fbem-11013	15	7	wind	wind	NOUN
fbem-11013	15	8	database	database	NOUN
fbem-11013	15	9	reveals	reveal	VERB
fbem-11013	15	10	that	that	SCONJ
fbem-11013	15	11	during	during	ADP
fbem-11013	15	12	the	the	DET
fbem-11013	15	13	span	span	NOUN
fbem-11013	15	14	of	of	ADP
fbem-11013	15	15	2014	2014	NUM
fbem-11013	15	16	-	-	SYM
fbem-11013	15	17	2015	2015	NUM
fbem-11013	15	18	,	,	PUNCT
fbem-11013	15	19	as	as	SCONJ
fbem-11013	15	20	the	the	DET
fbem-11013	15	21	chinese	chinese	ADJ
fbem-11013	15	22	stock	stock	NOUN
fbem-11013	15	23	market	market	NOUN
fbem-11013	15	24	index	index	NOUN
fbem-11013	15	25	surged	surge	VERB
fbem-11013	15	26	from	from	ADP
fbem-11013	15	27	2077	2077	NUM
fbem-11013	15	28	to	to	ADP
fbem-11013	15	29	5380	5380	NUM
fbem-11013	15	30	points	point	NOUN
fbem-11013	15	31	,	,	PUNCT
fbem-11013	15	32	the	the	DET
fbem-11013	15	33	volume	volume	NOUN
fbem-11013	15	34	of	of	ADP
fbem-11013	15	35	m&a	m&a	PROPN
fbem-11013	15	36	transactions	transaction	NOUN
fbem-11013	15	37	by	by	ADP
fbem-11013	15	38	chinese	chinese	ADJ
fbem-11013	15	39	listed	list	VERB
fbem-11013	15	40	companies	company	NOUN
fbem-11013	15	41	experienced	experience	VERB
fbem-11013	15	42	a	a	DET
fbem-11013	15	43	significant	significant	ADJ
fbem-11013	15	44	upsurge	upsurge	NOUN
fbem-11013	15	45	,	,	PUNCT
fbem-11013	15	46	marked	mark	VERB
fbem-11013	15	47	by	by	ADP
fbem-11013	15	48	a	a	DET
fbem-11013	15	49	growth	growth	NOUN
fbem-11013	15	50	rate	rate	NOUN
fbem-11013	15	51	of	of	ADP
fbem-11013	15	52	up	up	ADP
fbem-11013	15	53	to	to	PART
fbem-11013	15	54	65	65	NUM
fbem-11013	15	55	%	%	NOUN
fbem-11013	15	56	.	.	PUNCT
fbem-11013	16	1	scholars	scholar	NOUN
fbem-11013	16	2	have	have	AUX
fbem-11013	16	3	observed	observe	VERB
fbem-11013	16	4	that	that	SCONJ
fbem-11013	16	5	under	under	ADP
fbem-11013	16	6	the	the	DET
fbem-11013	16	7	influence	influence	NOUN
fbem-11013	16	8	of	of	ADP
fbem-11013	16	9	stock	stock	NOUN
fbem-11013	16	10	market	market	NOUN
fbem-11013	16	11	fluctuations	fluctuation	NOUN
fbem-11013	16	12	,	,	PUNCT
fbem-11013	16	13	chinese	chinese	ADJ
fbem-11013	16	14	companies	company	NOUN
fbem-11013	16	15	'	'	PART
fbem-11013	16	16	merger	merger	NOUN
fbem-11013	16	17	and	and	CCONJ
fbem-11013	16	18	acquisition	acquisition	NOUN
fbem-11013	16	19	conduct	conduct	NOUN
fbem-11013	16	20	manifests	manifest	VERB
fbem-11013	16	21	distinct	distinct	ADJ
fbem-11013	16	22	attributes	attribute	NOUN
fbem-11013	16	23	of	of	ADP
fbem-11013	16	24	irrational	irrational	ADJ
fbem-11013	16	25	acquisitions	acquisition	NOUN
fbem-11013	16	26	,	,	PUNCT
fbem-11013	16	27	such	such	ADJ
fbem-11013	16	28	as	as	ADP
fbem-11013	16	29	"	"	PUNCT
fbem-11013	16	30	herd	herd	NOUN
fbem-11013	16	31	behavior	behavior	NOUN
fbem-11013	16	32	,	,	PUNCT
fbem-11013	16	33	"	"	PUNCT
fbem-11013	16	34	"	"	PUNCT
fbem-11013	16	35	short	short	ADJ
fbem-11013	16	36	-	-	PUNCT
fbem-11013	16	37	term	term	NOUN
fbem-11013	16	38	speculation	speculation	NOUN
fbem-11013	16	39	,	,	PUNCT
fbem-11013	16	40	"	"	PUNCT
fbem-11013	16	41	and	and	CCONJ
fbem-11013	16	42	"	"	PUNCT
fbem-11013	16	43	arbitrage	arbitrage	NOUN
fbem-11013	16	44	behavior	behavior	NOUN
fbem-11013	16	45	"	"	PUNCT
fbem-11013	17	1	[	[	X
fbem-11013	17	2	4	4	NUM
fbem-11013	17	3	-	-	SYM
fbem-11013	17	4	6	6	NUM
fbem-11013	17	5	]	]	PUNCT
fbem-11013	17	6	.	.	PUNCT
fbem-11013	18	1	concurrently	concurrently	ADV
fbem-11013	18	2	with	with	ADP
fbem-11013	18	3	the	the	DET
fbem-11013	18	4	considerable	considerable	ADJ
fbem-11013	18	5	upswing	upswing	NOUN
fbem-11013	18	6	in	in	ADP
fbem-11013	18	7	m&a	m&a	PROPN
fbem-11013	18	8	activities	activity	NOUN
fbem-11013	18	9	,	,	PUNCT
fbem-11013	18	10	the	the	DET
fbem-11013	18	11	practice	practice	NOUN
fbem-11013	18	12	of	of	ADP
fbem-11013	18	13	chinese	chinese	ADJ
fbem-11013	18	14	companies	company	NOUN
fbem-11013	18	15	offering	offer	VERB
fbem-11013	18	16	substantial	substantial	ADJ
fbem-11013	18	17	premiums	premium	NOUN
fbem-11013	18	18	for	for	ADP
fbem-11013	18	19	acquisitions	acquisition	NOUN
fbem-11013	18	20	has	have	AUX
fbem-11013	18	21	become	become	VERB
fbem-11013	18	22	conspicuous	conspicuous	ADJ
fbem-11013	18	23	[	[	X
fbem-11013	18	24	7	7	NUM
fbem-11013	18	25	,	,	PUNCT
fbem-11013	18	26	8	8	NUM
fbem-11013	18	27	]	]	PUNCT
fbem-11013	18	28	.	.	PUNCT
fbem-11013	19	1	for	for	ADP
fbem-11013	19	2	instance	instance	NOUN
fbem-11013	19	3	,	,	PUNCT
fbem-11013	19	4	statistics	statistic	NOUN
fbem-11013	19	5	extracted	extract	VERB
fbem-11013	19	6	from	from	ADP
fbem-11013	19	7	the	the	DET
fbem-11013	19	8	wind	wind	NOUN
fbem-11013	19	9	database	database	NOUN
fbem-11013	19	10	indicate	indicate	VERB
fbem-11013	19	11	that	that	SCONJ
fbem-11013	19	12	out	out	ADP
fbem-11013	19	13	of	of	ADP
fbem-11013	19	14	1,279	1,279	NUM
fbem-11013	19	15	m&a	m&a	PROPN
fbem-11013	19	16	cases	case	NOUN
fbem-11013	19	17	spanning	span	VERB
fbem-11013	19	18	from	from	ADP
fbem-11013	19	19	2011	2011	NUM
fbem-11013	19	20	to	to	ADP
fbem-11013	19	21	2019	2019	NUM
fbem-11013	19	22	,	,	PUNCT
fbem-11013	19	23	the	the	DET
fbem-11013	19	24	total	total	ADJ
fbem-11013	19	25	transaction	transaction	NOUN
fbem-11013	19	26	value	value	NOUN
fbem-11013	19	27	amassed	amass	VERB
fbem-11013	19	28	to	to	ADP
fbem-11013	19	29	2,756.4	2,756.4	NUM
fbem-11013	19	30	billion	billion	NUM
fbem-11013	19	31	rmb	rmb	NOUN
fbem-11013	19	32	,	,	PUNCT
fbem-11013	19	33	while	while	SCONJ
fbem-11013	19	34	the	the	DET
fbem-11013	19	35	net	net	ADJ
fbem-11013	19	36	asset	asset	NOUN
fbem-11013	19	37	book	book	NOUN
fbem-11013	19	38	value	value	NOUN
fbem-11013	19	39	of	of	ADP
fbem-11013	19	40	the	the	DET
fbem-11013	19	41	target	target	NOUN
fbem-11013	19	42	entities	entity	NOUN
fbem-11013	19	43	stood	stand	VERB
fbem-11013	19	44	at	at	ADP
fbem-11013	19	45	a	a	DET
fbem-11013	19	46	mere	mere	ADJ
fbem-11013	19	47	1,153.3	1,153.3	NUM
fbem-11013	19	48	billion	billion	NUM
fbem-11013	19	49	rmb	rmb	NOUN
fbem-11013	19	50	,	,	PUNCT
fbem-11013	19	51	culminating	culminate	VERB
fbem-11013	19	52	in	in	ADP
fbem-11013	19	53	an	an	DET
fbem-11013	19	54	average	average	ADJ
fbem-11013	19	55	premium	premium	NOUN
fbem-11013	19	56	rate	rate	NOUN
fbem-11013	19	57	of	of	ADP
fbem-11013	19	58	239	239	NUM
fbem-11013	19	59	%	%	NOUN
fbem-11013	20	1	[	[	X
fbem-11013	20	2	9	9	NUM
fbem-11013	20	3	]	]	PUNCT
fbem-11013	20	4	.	.	PUNCT
fbem-11013	21	1	this	this	PRON
fbem-11013	21	2	underscores	underscore	VERB
fbem-11013	21	3	the	the	DET
fbem-11013	21	4	profound	profound	ADJ
fbem-11013	21	5	sway	sway	NOUN
fbem-11013	21	6	of	of	ADP
fbem-11013	21	7	the	the	DET
fbem-11013	21	8	chinese	chinese	ADJ
fbem-11013	21	9	capital	capital	NOUN
fbem-11013	21	10	market	market	NOUN
fbem-11013	21	11	on	on	ADP
fbem-11013	21	12	corporate	corporate	ADJ
fbem-11013	21	13	m&a	m&a	PROPN
fbem-11013	21	14	comportment	comportment	NOUN
fbem-11013	21	15	.	.	PUNCT
fbem-11013	22	1	research	research	NOUN
fbem-11013	22	2	conducted	conduct	VERB
fbem-11013	22	3	by	by	ADP
fbem-11013	22	4	li	li	PROPN
fbem-11013	22	5	and	and	CCONJ
fbem-11013	22	6	huang	huang	PROPN
fbem-11013	23	1	[	[	X
fbem-11013	23	2	10	10	NUM
fbem-11013	23	3	]	]	PUNCT
fbem-11013	23	4	suggests	suggest	VERB
fbem-11013	23	5	that	that	SCONJ
fbem-11013	23	6	the	the	DET
fbem-11013	23	7	influence	influence	NOUN
fbem-11013	23	8	of	of	ADP
fbem-11013	23	9	the	the	DET
fbem-11013	23	10	capital	capital	NOUN
fbem-11013	23	11	market	market	NOUN
fbem-11013	23	12	on	on	ADP
fbem-11013	23	13	corporate	corporate	ADJ
fbem-11013	23	14	m&a	m&a	PROPN
fbem-11013	23	15	behavior	behavior	NOUN
fbem-11013	23	16	and	and	CCONJ
fbem-11013	23	17	its	its	PRON
fbem-11013	23	18	ensuing	ensue	VERB
fbem-11013	23	19	economic	economic	ADJ
fbem-11013	23	20	repercussions	repercussion	NOUN
fbem-11013	23	21	could	could	AUX
fbem-11013	23	22	potentially	potentially	ADV
fbem-11013	23	23	surpass	surpass	VERB
fbem-11013	23	24	traditional	traditional	ADJ
fbem-11013	23	25	corporatelinked	corporatelinke	VERB
fbem-11013	23	26	factors	factor	NOUN
fbem-11013	23	27	.	.	PUNCT
fbem-11013	24	1	merger	merger	NOUN
fbem-11013	24	2	activity	activity	NOUN
fbem-11013	24	3	in	in	ADP
fbem-11013	24	4	any	any	DET
fbem-11013	24	5	nation	nation	NOUN
fbem-11013	24	6	is	be	AUX
fbem-11013	24	7	subject	subject	ADJ
fbem-11013	24	8	to	to	ADP
fbem-11013	24	9	the	the	DET
fbem-11013	24	10	influence	influence	NOUN
fbem-11013	24	11	of	of	ADP
fbem-11013	24	12	both	both	CCONJ
fbem-11013	24	13	macroeconomic	macroeconomic	ADJ
fbem-11013	24	14	and	and	CCONJ
fbem-11013	24	15	stock	stock	NOUN
fbem-11013	24	16	market	market	NOUN
fbem-11013	24	17	factors	factor	NOUN
fbem-11013	24	18	[	[	X
fbem-11013	24	19	11	11	NUM
fbem-11013	24	20	,	,	PUNCT
fbem-11013	24	21	12	12	NUM
fbem-11013	24	22	]	]	PUNCT
fbem-11013	24	23	.	.	PUNCT
fbem-11013	25	1	however	however	ADV
fbem-11013	25	2	,	,	PUNCT
fbem-11013	25	3	the	the	DET
fbem-11013	25	4	body	body	NOUN
fbem-11013	25	5	of	of	ADP
fbem-11013	25	6	m&a	m&a	PROPN
fbem-11013	25	7	literature	literature	PROPN
fbem-11013	25	8	predominantly	predominantly	ADV
fbem-11013	25	9	adopts	adopt	VERB
fbem-11013	25	10	a	a	DET
fbem-11013	25	11	micro	micro	ADJ
fbem-11013	25	12	-	-	NOUN
fbem-11013	25	13	level	level	ADJ
fbem-11013	25	14	perspective	perspective	NOUN
fbem-11013	25	15	to	to	PART
fbem-11013	25	16	grasp	grasp	VERB
fbem-11013	25	17	the	the	DET
fbem-11013	25	18	strategic	strategic	ADJ
fbem-11013	25	19	decisionmaking	decisionmaking	NOUN
fbem-11013	25	20	of	of	ADP
fbem-11013	25	21	companies	company	NOUN
fbem-11013	25	22	when	when	SCONJ
fbem-11013	25	23	announcing	announce	VERB
fbem-11013	25	24	merger	merger	NOUN
fbem-11013	25	25	transactions	transaction	NOUN
fbem-11013	25	26	.	.	PUNCT
fbem-11013	26	1	macroeconomic	macroeconomic	ADJ
fbem-11013	26	2	factors	factor	NOUN
fbem-11013	26	3	at	at	ADP
fbem-11013	26	4	the	the	DET
fbem-11013	26	5	market	market	NOUN
fbem-11013	26	6	level	level	NOUN
fbem-11013	26	7	are	be	AUX
fbem-11013	26	8	deemed	deem	VERB
fbem-11013	26	9	exogenous	exogenous	ADJ
fbem-11013	26	10	,	,	PUNCT
fbem-11013	26	11	with	with	ADP
fbem-11013	26	12	individual	individual	ADJ
fbem-11013	26	13	firms	firm	NOUN
fbem-11013	26	14	holding	hold	VERB
fbem-11013	26	15	nominal	nominal	ADJ
fbem-11013	26	16	control	control	NOUN
fbem-11013	26	17	over	over	ADP
fbem-11013	26	18	them	they	PRON
fbem-11013	27	1	[	[	X
fbem-11013	27	2	12	12	NUM
fbem-11013	27	3	]	]	PUNCT
fbem-11013	27	4	.	.	PUNCT
fbem-11013	28	1	numerous	numerous	ADJ
fbem-11013	28	2	researchers	researcher	NOUN
fbem-11013	28	3	have	have	AUX
fbem-11013	28	4	underscored	underscore	VERB
fbem-11013	28	5	the	the	DET
fbem-11013	28	6	pivotal	pivotal	ADJ
fbem-11013	28	7	role	role	NOUN
fbem-11013	28	8	of	of	ADP
fbem-11013	28	9	capital	capital	NOUN
fbem-11013	28	10	market	market	NOUN
fbem-11013	28	11	environmental	environmental	ADJ
fbem-11013	28	12	factors	factor	NOUN
fbem-11013	28	13	in	in	ADP
fbem-11013	28	14	merger	merger	NOUN
fbem-11013	28	15	and	and	CCONJ
fbem-11013	28	16	acquisition	acquisition	NOUN
fbem-11013	28	17	undertakings	undertaking	NOUN
fbem-11013	28	18	[	[	X
fbem-11013	28	19	13	13	NUM
fbem-11013	28	20	,	,	PUNCT
fbem-11013	28	21	14	14	NUM
fbem-11013	28	22	]	]	PUNCT
fbem-11013	28	23	.	.	PUNCT
fbem-11013	29	1	nevertheless	nevertheless	ADV
fbem-11013	29	2	,	,	PUNCT
fbem-11013	29	3	a	a	DET
fbem-11013	29	4	dearth	dearth	NOUN
fbem-11013	29	5	of	of	ADP
fbem-11013	29	6	research	research	NOUN
fbem-11013	29	7	currently	currently	ADV
fbem-11013	29	8	exists	exist	VERB
fbem-11013	29	9	regarding	regard	VERB
fbem-11013	29	10	the	the	DET
fbem-11013	29	11	manner	manner	NOUN
fbem-11013	29	12	in	in	ADP
fbem-11013	29	13	which	which	PRON
fbem-11013	29	14	market	market	NOUN
fbem-11013	29	15	environmental	environmental	ADJ
fbem-11013	29	16	factors	factor	NOUN
fbem-11013	29	17	impact	impact	VERB
fbem-11013	29	18	m&a	m&a	PROPN
fbem-11013	29	19	and	and	CCONJ
fbem-11013	29	20	the	the	DET
fbem-11013	29	21	subsequent	subsequent	ADJ
fbem-11013	29	22	performance	performance	NOUN
fbem-11013	29	23	following	follow	VERB
fbem-11013	29	24	acquisitions	acquisition	NOUN
fbem-11013	29	25	by	by	ADP
fbem-11013	29	26	companies	company	NOUN
fbem-11013	29	27	,	,	PUNCT
fbem-11013	29	28	particularly	particularly	ADV
fbem-11013	29	29	in	in	ADP
fbem-11013	29	30	the	the	DET
fbem-11013	29	31	context	context	NOUN
fbem-11013	29	32	of	of	ADP
fbem-11013	29	33	emerging	emerge	VERB
fbem-11013	29	34	economies	economy	NOUN
fbem-11013	29	35	.	.	PUNCT
fbem-11013	30	1	in	in	ADP
fbem-11013	30	2	contrast	contrast	NOUN
fbem-11013	30	3	to	to	PART
fbem-11013	30	4	mature	mature	VERB
fbem-11013	30	5	western	western	ADJ
fbem-11013	30	6	capital	capital	NOUN
fbem-11013	30	7	markets	market	NOUN
fbem-11013	30	8	,	,	PUNCT
fbem-11013	30	9	china	china	PROPN
fbem-11013	30	10	,	,	PUNCT
fbem-11013	30	11	as	as	ADP
fbem-11013	30	12	an	an	DET
fbem-11013	30	13	emerging	emerge	VERB
fbem-11013	30	14	economy	economy	NOUN
fbem-11013	30	15	,	,	PUNCT
fbem-11013	30	16	presently	presently	ADV
fbem-11013	30	17	showcases	showcase	VERB
fbem-11013	30	18	distinct	distinct	ADJ
fbem-11013	30	19	traits	trait	NOUN
fbem-11013	30	20	within	within	ADP
fbem-11013	30	21	its	its	PRON
fbem-11013	30	22	market	market	NOUN
fbem-11013	30	23	environment	environment	NOUN
fbem-11013	30	24	,	,	PUNCT
fbem-11013	30	25	encompassing	encompass	VERB
fbem-11013	30	26	institutional	institutional	ADJ
fbem-11013	30	27	imperfections	imperfection	NOUN
fbem-11013	30	28	,	,	PUNCT
fbem-11013	30	29	a	a	DET
fbem-11013	30	30	robust	robust	ADJ
fbem-11013	30	31	speculative	speculative	ADJ
fbem-11013	30	32	ambiance	ambiance	NOUN
fbem-11013	30	33	,	,	PUNCT
fbem-11013	30	34	prevalent	prevalent	ADJ
fbem-11013	30	35	herd	herd	NOUN
fbem-11013	30	36	behavior	behavior	NOUN
fbem-11013	30	37	,	,	PUNCT
fbem-11013	30	38	notable	notable	ADJ
fbem-11013	30	39	market	market	NOUN
fbem-11013	30	40	volatility	volatility	NOUN
fbem-11013	30	41	,	,	PUNCT
fbem-11013	30	42	and	and	CCONJ
fbem-11013	30	43	a	a	DET
fbem-11013	30	44	conspicuous	conspicuous	ADJ
fbem-11013	30	45	degree	degree	NOUN
fbem-11013	30	46	of	of	ADP
fbem-11013	30	47	information	information	NOUN
fbem-11013	30	48	asymmetry	asymmetry	NOUN
fbem-11013	30	49	.	.	PUNCT
fbem-11013	31	1	these	these	DET
fbem-11013	31	2	elements	element	NOUN
fbem-11013	31	3	impede	impede	VERB
fbem-11013	31	4	stock	stock	NOUN
fbem-11013	31	5	prices	price	NOUN
fbem-11013	31	6	from	from	ADP
fbem-11013	31	7	comprehensively	comprehensively	ADV
fbem-11013	31	8	reflecting	reflect	VERB
fbem-11013	31	9	the	the	DET
fbem-11013	31	10	intrinsic	intrinsic	ADJ
fbem-11013	31	11	worth	worth	NOUN
fbem-11013	31	12	of	of	ADP
fbem-11013	31	13	listed	list	VERB
fbem-11013	31	14	companies	company	NOUN
fbem-11013	31	15	,	,	PUNCT
fbem-11013	31	16	giving	give	VERB
fbem-11013	31	17	rise	rise	NOUN
fbem-11013	31	18	to	to	ADP
fbem-11013	31	19	the	the	DET
fbem-11013	31	20	prominent	prominent	ADJ
fbem-11013	31	21	occurrence	occurrence	NOUN
fbem-11013	31	22	of	of	ADP
fbem-11013	31	23	mispricing	misprice	VERB
fbem-11013	31	24	[	[	X
fbem-11013	31	25	15	15	NUM
fbem-11013	31	26	,	,	PUNCT
fbem-11013	31	27	16	16	NUM
fbem-11013	31	28	]	]	PUNCT
fbem-11013	31	29	.	.	PUNCT
fbem-11013	32	1	this	this	DET
fbem-11013	32	2	prominent	prominent	ADJ
fbem-11013	32	3	mispricing	mispricing	NOUN
fbem-11013	32	4	within	within	ADP
fbem-11013	32	5	china	china	PROPN
fbem-11013	32	6	's	's	PART
fbem-11013	32	7	capital	capital	NOUN
fbem-11013	32	8	market	market	NOUN
fbem-11013	32	9	provides	provide	VERB
fbem-11013	32	10	companies	company	NOUN
fbem-11013	32	11	with	with	ADP
fbem-11013	32	12	opportunities	opportunity	NOUN
fbem-11013	32	13	to	to	PART
fbem-11013	32	14	make	make	VERB
fbem-11013	32	15	strategic	strategic	ADJ
fbem-11013	32	16	determinations	determination	NOUN
fbem-11013	32	17	in	in	ADP
fbem-11013	32	18	the	the	DET
fbem-11013	32	19	realm	realm	NOUN
fbem-11013	32	20	of	of	ADP
fbem-11013	32	21	mergers	merger	NOUN
fbem-11013	32	22	and	and	CCONJ
fbem-11013	32	23	acquisitions	acquisition	NOUN
fbem-11013	32	24	based	base	VERB
fbem-11013	32	25	on	on	ADP
fbem-11013	32	26	market	market	NOUN
fbem-11013	32	27	timing	timing	NOUN
fbem-11013	32	28	[	[	X
fbem-11013	32	29	10	10	NUM
fbem-11013	32	30	]	]	PUNCT
fbem-11013	32	31	.	.	PUNCT
fbem-11013	33	1	therefore	therefore	ADV
fbem-11013	33	2	,	,	PUNCT
fbem-11013	33	3	in	in	ADP
fbem-11013	33	4	light	light	NOUN
fbem-11013	33	5	of	of	ADP
fbem-11013	33	6	the	the	DET
fbem-11013	33	7	prominent	prominent	ADJ
fbem-11013	33	8	mispricing	mispricing	NOUN
fbem-11013	33	9	observed	observe	VERB
fbem-11013	33	10	within	within	ADP
fbem-11013	33	11	china	china	PROPN
fbem-11013	33	12	's	's	PART
fbem-11013	33	13	capital	capital	NOUN
fbem-11013	33	14	market	market	NOUN
fbem-11013	33	15	,	,	PUNCT
fbem-11013	33	16	the	the	DET
fbem-11013	33	17	examination	examination	NOUN
fbem-11013	33	18	of	of	ADP
fbem-11013	33	19	how	how	SCONJ
fbem-11013	33	20	companies	company	NOUN
fbem-11013	33	21	can	can	AUX
fbem-11013	33	22	effectively	effectively	ADV
fbem-11013	33	23	harness	harness	VERB
fbem-11013	33	24	the	the	DET
fbem-11013	33	25	timing	timing	NOUN
fbem-11013	33	26	of	of	ADP
fbem-11013	33	27	market	market	NOUN
fbem-11013	33	28	mispricing	misprice	VERB
fbem-11013	33	29	to	to	PART
fbem-11013	33	30	bolster	bolster	VERB
fbem-11013	33	31	post	post	ADJ
fbem-11013	33	32	-	-	ADJ
fbem-11013	33	33	acquisition	acquisition	NOUN
fbem-11013	33	34	performance	performance	NOUN
fbem-11013	33	35	can	can	AUX
fbem-11013	33	36	aid	aid	VERB
fbem-11013	33	37	companies	company	NOUN
fbem-11013	33	38	in	in	ADP
fbem-11013	33	39	achieving	achieve	VERB
fbem-11013	33	40	elevated	elevate	VERB
fbem-11013	33	41	-	-	PUNCT
fbem-11013	33	42	quality	quality	NOUN
fbem-11013	33	43	development	development	NOUN
fbem-11013	33	44	and	and	CCONJ
fbem-11013	33	45	augmenting	augment	VERB
fbem-11013	33	46	value	value	NOUN
fbem-11013	33	47	.	.	PUNCT
fbem-11013	34	1	moreover	moreover	ADV
fbem-11013	34	2	,	,	PUNCT
fbem-11013	34	3	this	this	DET
fbem-11013	34	4	study	study	NOUN
fbem-11013	34	5	can	can	AUX
fbem-11013	34	6	offer	offer	VERB
fbem-11013	34	7	empirical	empirical	ADJ
fbem-11013	34	8	validation	validation	NOUN
fbem-11013	34	9	and	and	CCONJ
fbem-11013	34	10	policy	policy	NOUN
fbem-11013	34	11	backing	backing	NOUN
fbem-11013	34	12	for	for	ADP
fbem-11013	34	13	the	the	DET
fbem-11013	34	14	national	national	ADJ
fbem-11013	34	15	strategic	strategic	ADJ
fbem-11013	34	16	objective	objective	NOUN
fbem-11013	34	17	of	of	ADP
fbem-11013	34	18	nurturing	nurture	VERB
fbem-11013	34	19	the	the	DET
fbem-11013	34	20	development	development	NOUN
fbem-11013	34	21	of	of	ADP
fbem-11013	34	22	the	the	DET
fbem-11013	34	23	real	real	ADJ
fbem-11013	34	24	economy	economy	NOUN
fbem-11013	34	25	through	through	ADP
fbem-11013	34	26	china	china	PROPN
fbem-11013	34	27	's	's	PART
fbem-11013	34	28	capital	capital	NOUN
fbem-11013	34	29	market	market	NOUN
fbem-11013	34	30	.	.	PUNCT
fbem-11013	35	1	250	250	NUM
fbem-11013	35	2	2	2	NUM
fbem-11013	35	3	.	.	PUNCT
fbem-11013	36	1	literature	literature	NOUN
fbem-11013	36	2	references	reference	NOUN
fbem-11013	36	3	2.1	2.1	NUM
fbem-11013	36	4	.	.	PUNCT
fbem-11013	37	1	review	review	NOUN
fbem-11013	37	2	of	of	ADP
fbem-11013	37	3	market	market	NOUN
fbem-11013	37	4	mispricing	misprice	VERB
fbem-11013	37	5	timing	time	VERB
fbem-11013	37	6	market	market	NOUN
fbem-11013	37	7	mispricing	misprice	VERB
fbem-11013	37	8	timing	timing	NOUN
fbem-11013	37	9	pertains	pertain	NOUN
fbem-11013	37	10	to	to	ADP
fbem-11013	37	11	instances	instance	NOUN
fbem-11013	37	12	where	where	SCONJ
fbem-11013	37	13	the	the	DET
fbem-11013	37	14	overall	overall	ADJ
fbem-11013	37	15	market	market	NOUN
fbem-11013	37	16	is	be	AUX
fbem-11013	37	17	either	either	CCONJ
fbem-11013	37	18	overvalued	overvalue	VERB
fbem-11013	37	19	or	or	CCONJ
fbem-11013	37	20	undervalued	undervalue	VERB
fbem-11013	37	21	at	at	ADP
fbem-11013	37	22	the	the	DET
fbem-11013	37	23	announcement	announcement	NOUN
fbem-11013	37	24	of	of	ADP
fbem-11013	37	25	a	a	DET
fbem-11013	37	26	merger	merger	NOUN
fbem-11013	37	27	.	.	PUNCT
fbem-11013	38	1	rational	rational	ADJ
fbem-11013	38	2	managers	manager	NOUN
fbem-11013	38	3	capitalize	capitalize	VERB
fbem-11013	38	4	on	on	ADP
fbem-11013	38	5	the	the	DET
fbem-11013	38	6	"	"	PUNCT
fbem-11013	38	7	window	window	NOUN
fbem-11013	38	8	of	of	ADP
fbem-11013	38	9	opportunity	opportunity	NOUN
fbem-11013	38	10	"	"	PUNCT
fbem-11013	38	11	created	create	VERB
fbem-11013	38	12	by	by	ADP
fbem-11013	38	13	such	such	ADJ
fbem-11013	38	14	overall	overall	ADJ
fbem-11013	38	15	market	market	NOUN
fbem-11013	38	16	misvaluation	misvaluation	NOUN
fbem-11013	38	17	to	to	PART
fbem-11013	38	18	strategically	strategically	ADV
fbem-11013	38	19	select	select	VERB
fbem-11013	38	20	favorable	favorable	ADJ
fbem-11013	38	21	merger	merger	NOUN
fbem-11013	38	22	timings	timing	NOUN
fbem-11013	38	23	[	[	X
fbem-11013	38	24	17	17	NUM
fbem-11013	38	25	]	]	PUNCT
fbem-11013	38	26	.	.	PUNCT
fbem-11013	39	1	in	in	ADP
fbem-11013	39	2	recent	recent	ADJ
fbem-11013	39	3	years	year	NOUN
fbem-11013	39	4	,	,	PUNCT
fbem-11013	39	5	the	the	DET
fbem-11013	39	6	academic	academic	ADJ
fbem-11013	39	7	community	community	NOUN
fbem-11013	39	8	has	have	AUX
fbem-11013	39	9	been	be	AUX
fbem-11013	39	10	extensively	extensively	ADV
fbem-11013	39	11	engaged	engage	VERB
fbem-11013	39	12	in	in	ADP
fbem-11013	39	13	exploring	explore	VERB
fbem-11013	39	14	how	how	SCONJ
fbem-11013	39	15	capital	capital	NOUN
fbem-11013	39	16	market	market	NOUN
fbem-11013	39	17	mispricing	misprice	VERB
fbem-11013	39	18	timing	timing	NOUN
fbem-11013	39	19	influences	influence	VERB
fbem-11013	39	20	the	the	DET
fbem-11013	39	21	real	real	ADJ
fbem-11013	39	22	economy	economy	NOUN
fbem-11013	39	23	.	.	PUNCT
fbem-11013	40	1	the	the	DET
fbem-11013	40	2	prevailing	prevail	VERB
fbem-11013	40	3	literature	literature	NOUN
fbem-11013	40	4	predominantly	predominantly	ADV
fbem-11013	40	5	centers	center	VERB
fbem-11013	40	6	around	around	ADP
fbem-11013	40	7	investigating	investigate	VERB
fbem-11013	40	8	firms	firm	NOUN
fbem-11013	40	9	'	'	PART
fbem-11013	40	10	investment	investment	NOUN
fbem-11013	40	11	and	and	CCONJ
fbem-11013	40	12	financing	financing	NOUN
fbem-11013	40	13	behaviors	behavior	NOUN
fbem-11013	40	14	.	.	PUNCT
fbem-11013	41	1	scholars	scholar	NOUN
fbem-11013	41	2	contend	contend	VERB
fbem-11013	41	3	that	that	SCONJ
fbem-11013	41	4	systematic	systematic	ADJ
fbem-11013	41	5	and	and	CCONJ
fbem-11013	41	6	non	non	ADJ
fbem-11013	41	7	-	-	ADJ
fbem-11013	41	8	compensable	compensable	ADJ
fbem-11013	41	9	irrational	irrational	ADJ
fbem-11013	41	10	biases	bias	NOUN
fbem-11013	41	11	among	among	ADP
fbem-11013	41	12	investors	investor	NOUN
fbem-11013	41	13	lead	lead	VERB
fbem-11013	41	14	to	to	ADP
fbem-11013	41	15	enduring	endure	VERB
fbem-11013	41	16	instances	instance	NOUN
fbem-11013	41	17	of	of	ADP
fbem-11013	41	18	mispricing	misprice	VERB
fbem-11013	41	19	within	within	ADP
fbem-11013	41	20	the	the	DET
fbem-11013	41	21	capital	capital	NOUN
fbem-11013	41	22	market	market	NOUN
fbem-11013	41	23	.	.	PUNCT
fbem-11013	42	1	these	these	DET
fbem-11013	42	2	phenomena	phenomenon	NOUN
fbem-11013	42	3	are	be	AUX
fbem-11013	42	4	likely	likely	ADJ
fbem-11013	42	5	to	to	PART
fbem-11013	42	6	wield	wield	VERB
fbem-11013	42	7	noteworthy	noteworthy	ADJ
fbem-11013	42	8	effects	effect	NOUN
fbem-11013	42	9	on	on	ADP
fbem-11013	42	10	a	a	DET
fbem-11013	42	11	company	company	NOUN
fbem-11013	42	12	's	's	PART
fbem-11013	42	13	decisions	decision	NOUN
fbem-11013	42	14	related	relate	VERB
fbem-11013	42	15	to	to	ADP
fbem-11013	42	16	investment	investment	NOUN
fbem-11013	42	17	and	and	CCONJ
fbem-11013	42	18	financing	financing	NOUN
fbem-11013	42	19	[	[	X
fbem-11013	42	20	10	10	NUM
fbem-11013	42	21	,	,	PUNCT
fbem-11013	42	22	18	18	NUM
fbem-11013	42	23	]	]	PUNCT
fbem-11013	42	24	.	.	PUNCT
fbem-11013	43	1	for	for	ADP
fbem-11013	43	2	instance	instance	NOUN
fbem-11013	43	3	,	,	PUNCT
fbem-11013	43	4	botsari	botsari	PROPN
fbem-11013	43	5	and	and	CCONJ
fbem-11013	43	6	meeks	meeks	PROPN
fbem-11013	44	1	[	[	X
fbem-11013	44	2	19	19	NUM
fbem-11013	44	3	]	]	PUNCT
fbem-11013	44	4	analyzed	analyze	VERB
fbem-11013	44	5	data	datum	NOUN
fbem-11013	44	6	concerning	concern	VERB
fbem-11013	44	7	m&a	m&a	PROPN
fbem-11013	44	8	transactions	transaction	NOUN
fbem-11013	44	9	announced	announce	VERB
fbem-11013	44	10	and	and	CCONJ
fbem-11013	44	11	completed	complete	VERB
fbem-11013	44	12	by	by	ADP
fbem-11013	44	13	uk	uk	PROPN
fbem-11013	44	14	acquirers	acquirer	NOUN
fbem-11013	44	15	during	during	ADP
fbem-11013	44	16	the	the	DET
fbem-11013	44	17	period	period	NOUN
fbem-11013	44	18	of	of	ADP
fbem-11013	44	19	1997	1997	NUM
fbem-11013	44	20	-	-	SYM
fbem-11013	44	21	2010	2010	NUM
fbem-11013	44	22	,	,	PUNCT
fbem-11013	44	23	discovering	discover	VERB
fbem-11013	44	24	that	that	SCONJ
fbem-11013	44	25	market	market	NOUN
fbem-11013	44	26	timing	timing	NOUN
fbem-11013	44	27	substantially	substantially	ADV
fbem-11013	44	28	influences	influence	VERB
fbem-11013	44	29	m&a	m&a	PROPN
fbem-11013	44	30	earnings	earning	NOUN
fbem-11013	44	31	management	management	NOUN
fbem-11013	44	32	behavior	behavior	NOUN
fbem-11013	44	33	.	.	PUNCT
fbem-11013	45	1	chuang	chuang	PROPN
fbem-11013	46	1	[	[	X
fbem-11013	46	2	20	20	NUM
fbem-11013	46	3	]	]	PUNCT
fbem-11013	46	4	emphasized	emphasize	VERB
fbem-11013	46	5	the	the	DET
fbem-11013	46	6	significance	significance	NOUN
fbem-11013	46	7	of	of	ADP
fbem-11013	46	8	market	market	NOUN
fbem-11013	46	9	timing	timing	NOUN
fbem-11013	46	10	for	for	ADP
fbem-11013	46	11	attractive	attractive	ADJ
fbem-11013	46	12	and	and	CCONJ
fbem-11013	46	13	high	high	ADJ
fbem-11013	46	14	-	-	PUNCT
fbem-11013	46	15	value	value	NOUN
fbem-11013	46	16	companies	company	NOUN
fbem-11013	46	17	in	in	ADP
fbem-11013	46	18	the	the	DET
fbem-11013	46	19	context	context	NOUN
fbem-11013	46	20	of	of	ADP
fbem-11013	46	21	m&a	m&a	PROPN
fbem-11013	46	22	.	.	PUNCT
fbem-11013	47	1	employing	employ	VERB
fbem-11013	47	2	a	a	DET
fbem-11013	47	3	standard	standard	ADJ
fbem-11013	47	4	event	event	NOUN
fbem-11013	47	5	study	study	NOUN
fbem-11013	47	6	methodology	methodology	NOUN
fbem-11013	47	7	,	,	PUNCT
fbem-11013	47	8	they	they	PRON
fbem-11013	47	9	scrutinized	scrutinize	VERB
fbem-11013	47	10	1109	1109	NUM
fbem-11013	47	11	target	target	NOUN
fbem-11013	47	12	firms	firm	NOUN
fbem-11013	47	13	and	and	CCONJ
fbem-11013	47	14	6980	6980	NUM
fbem-11013	47	15	bidders	bidder	NOUN
fbem-11013	47	16	from	from	ADP
fbem-11013	47	17	2000	2000	NUM
fbem-11013	47	18	to	to	ADP
fbem-11013	47	19	2003	2003	NUM
fbem-11013	47	20	,	,	PUNCT
fbem-11013	47	21	yielding	yield	VERB
fbem-11013	47	22	results	result	NOUN
fbem-11013	47	23	indicating	indicate	VERB
fbem-11013	47	24	that	that	SCONJ
fbem-11013	47	25	attractive	attractive	ADJ
fbem-11013	47	26	(	(	PUNCT
fbem-11013	47	27	value	value	NOUN
fbem-11013	47	28	-	-	PUNCT
fbem-11013	47	29	driven	drive	VERB
fbem-11013	47	30	)	)	PUNCT
fbem-11013	47	31	companies	company	NOUN
fbem-11013	47	32	were	be	AUX
fbem-11013	47	33	more	more	ADV
fbem-11013	47	34	inclined	inclined	ADJ
fbem-11013	47	35	to	to	PART
fbem-11013	47	36	engage	engage	VERB
fbem-11013	47	37	in	in	ADP
fbem-11013	47	38	m&a	m&a	PROPN
fbem-11013	47	39	during	during	ADP
fbem-11013	47	40	hot	hot	ADJ
fbem-11013	47	41	(	(	PUNCT
fbem-11013	47	42	cold	cold	ADJ
fbem-11013	47	43	)	)	PUNCT
fbem-11013	47	44	market	market	NOUN
fbem-11013	47	45	conditions	condition	NOUN
fbem-11013	47	46	.	.	PUNCT
fbem-11013	48	1	fu	fu	PROPN
fbem-11013	48	2	and	and	CCONJ
fbem-11013	48	3	wang	wang	PROPN
fbem-11013	49	1	[	[	X
fbem-11013	49	2	21	21	NUM
fbem-11013	49	3	]	]	PUNCT
fbem-11013	49	4	delved	delve	VERB
fbem-11013	49	5	into	into	ADP
fbem-11013	49	6	the	the	DET
fbem-11013	49	7	momentum	momentum	NOUN
fbem-11013	49	8	and	and	CCONJ
fbem-11013	49	9	driving	drive	VERB
fbem-11013	49	10	forces	force	NOUN
fbem-11013	49	11	underpinning	underpin	VERB
fbem-11013	49	12	m&a	m&a	PROPN
fbem-11013	49	13	activities	activity	NOUN
fbem-11013	49	14	in	in	ADP
fbem-11013	49	15	china	china	PROPN
fbem-11013	49	16	using	use	VERB
fbem-11013	49	17	a	a	DET
fbem-11013	49	18	dataset	dataset	NOUN
fbem-11013	49	19	comprising	comprise	VERB
fbem-11013	49	20	376	376	NUM
fbem-11013	49	21	listed	list	VERB
fbem-11013	49	22	companies	company	NOUN
fbem-11013	49	23	from	from	ADP
fbem-11013	49	24	2008	2008	NUM
fbem-11013	49	25	to	to	ADP
fbem-11013	49	26	2013	2013	NUM
fbem-11013	49	27	.	.	PUNCT
fbem-11013	50	1	they	they	PRON
fbem-11013	50	2	identified	identify	VERB
fbem-11013	50	3	bull	bull	NOUN
fbem-11013	50	4	or	or	CCONJ
fbem-11013	50	5	bear	bear	VERB
fbem-11013	50	6	market	market	NOUN
fbem-11013	50	7	conditions	condition	NOUN
fbem-11013	50	8	as	as	ADP
fbem-11013	50	9	being	be	AUX
fbem-11013	50	10	among	among	ADP
fbem-11013	50	11	the	the	DET
fbem-11013	50	12	pivotal	pivotal	ADJ
fbem-11013	50	13	driving	drive	VERB
fbem-11013	50	14	factors	factor	NOUN
fbem-11013	50	15	for	for	ADP
fbem-11013	50	16	m&a	m&a	PROPN
fbem-11013	50	17	activities	activity	NOUN
fbem-11013	50	18	in	in	ADP
fbem-11013	50	19	china	china	PROPN
fbem-11013	50	20	.	.	PUNCT
fbem-11013	51	1	tuncay	tuncay	NOUN
fbem-11013	51	2	and	and	CCONJ
fbem-11013	51	3	karan	karan	PROPN
fbem-11013	52	1	[	[	X
fbem-11013	52	2	22	22	NUM
fbem-11013	52	3	]	]	PUNCT
fbem-11013	52	4	adopted	adopt	VERB
fbem-11013	52	5	an	an	DET
fbem-11013	52	6	event	event	NOUN
fbem-11013	52	7	study	study	NOUN
fbem-11013	52	8	approach	approach	NOUN
fbem-11013	52	9	to	to	PART
fbem-11013	52	10	examine	examine	VERB
fbem-11013	52	11	119	119	NUM
fbem-11013	52	12	companies	company	NOUN
fbem-11013	52	13	listed	list	VERB
fbem-11013	52	14	on	on	ADP
fbem-11013	52	15	borsa	borsa	PROPN
fbem-11013	52	16	istanbul	istanbul	PROPN
fbem-11013	52	17	during	during	ADP
fbem-11013	52	18	the	the	DET
fbem-11013	52	19	period	period	NOUN
fbem-11013	52	20	of	of	ADP
fbem-11013	52	21	2010	2010	NUM
fbem-11013	52	22	-	-	SYM
fbem-11013	52	23	2017	2017	NUM
fbem-11013	52	24	,	,	PUNCT
fbem-11013	52	25	revealing	reveal	VERB
fbem-11013	52	26	that	that	SCONJ
fbem-11013	52	27	both	both	CCONJ
fbem-11013	52	28	hot	hot	ADJ
fbem-11013	52	29	and	and	CCONJ
fbem-11013	52	30	cold	cold	ADJ
fbem-11013	52	31	market	market	NOUN
fbem-11013	52	32	conditions	condition	NOUN
fbem-11013	52	33	influenced	influence	VERB
fbem-11013	52	34	m&a	m&a	PROPN
fbem-11013	52	35	initial	initial	ADJ
fbem-11013	52	36	public	public	ADJ
fbem-11013	52	37	offerings	offering	NOUN
fbem-11013	52	38	.	.	PUNCT
fbem-11013	53	1	singh	singh	PROPN
fbem-11013	53	2	and	and	CCONJ
fbem-11013	53	3	dhanda	dhanda	X
fbem-11013	54	1	[	[	X
fbem-11013	54	2	23	23	NUM
fbem-11013	54	3	]	]	PUNCT
fbem-11013	54	4	elucidated	elucidate	VERB
fbem-11013	54	5	the	the	DET
fbem-11013	54	6	ramifications	ramification	NOUN
fbem-11013	54	7	of	of	ADP
fbem-11013	54	8	market	market	NOUN
fbem-11013	54	9	timing	timing	NOUN
fbem-11013	54	10	on	on	ADP
fbem-11013	54	11	the	the	DET
fbem-11013	54	12	inefficiency	inefficiency	NOUN
fbem-11013	54	13	and	and	CCONJ
fbem-11013	54	14	volatility	volatility	NOUN
fbem-11013	54	15	of	of	ADP
fbem-11013	54	16	india	india	PROPN
fbem-11013	54	17	's	's	PART
fbem-11013	54	18	initial	initial	ADJ
fbem-11013	54	19	public	public	ADJ
fbem-11013	54	20	offering	offering	NOUN
fbem-11013	54	21	(	(	PUNCT
fbem-11013	54	22	ipo	ipo	NOUN
fbem-11013	54	23	)	)	PUNCT
fbem-11013	54	24	market	market	NOUN
fbem-11013	54	25	through	through	ADP
fbem-11013	54	26	an	an	DET
fbem-11013	54	27	investigation	investigation	NOUN
fbem-11013	54	28	of	of	ADP
fbem-11013	54	29	hot	hot	ADJ
fbem-11013	54	30	and	and	CCONJ
fbem-11013	54	31	cold	cold	ADJ
fbem-11013	54	32	market	market	NOUN
fbem-11013	54	33	conditions	condition	NOUN
fbem-11013	54	34	.	.	PUNCT
fbem-11013	55	1	pungkaswati	pungkaswati	NOUN
fbem-11013	56	1	[	[	X
fbem-11013	56	2	24	24	NUM
fbem-11013	56	3	]	]	PUNCT
fbem-11013	56	4	undertook	undertake	VERB
fbem-11013	56	5	regression	regression	NOUN
fbem-11013	56	6	analysis	analysis	NOUN
fbem-11013	56	7	using	use	VERB
fbem-11013	56	8	secondary	secondary	ADJ
fbem-11013	56	9	data	datum	NOUN
fbem-11013	56	10	obtained	obtain	VERB
fbem-11013	56	11	from	from	ADP
fbem-11013	56	12	ipo	ipo	PROPN
fbem-11013	56	13	prospectuses	prospectus	NOUN
fbem-11013	56	14	spanning	span	VERB
fbem-11013	56	15	the	the	DET
fbem-11013	56	16	period	period	NOUN
fbem-11013	56	17	of	of	ADP
fbem-11013	56	18	2000	2000	NUM
fbem-11013	56	19	to	to	ADP
fbem-11013	56	20	2016	2016	NUM
fbem-11013	56	21	,	,	PUNCT
fbem-11013	56	22	identifying	identify	VERB
fbem-11013	56	23	positive	positive	ADJ
fbem-11013	56	24	and	and	CCONJ
fbem-11013	56	25	significant	significant	ADJ
fbem-11013	56	26	effects	effect	NOUN
fbem-11013	56	27	of	of	ADP
fbem-11013	56	28	hot	hot	ADJ
fbem-11013	56	29	and	and	CCONJ
fbem-11013	56	30	cold	cold	ADJ
fbem-11013	56	31	market	market	NOUN
fbem-11013	56	32	conditions	condition	NOUN
fbem-11013	56	33	on	on	ADP
fbem-11013	56	34	initial	initial	ADJ
fbem-11013	56	35	returns	return	NOUN
fbem-11013	56	36	.	.	PUNCT
fbem-11013	57	1	current	current	ADJ
fbem-11013	57	2	research	research	NOUN
fbem-11013	57	3	on	on	ADP
fbem-11013	57	4	market	market	NOUN
fbem-11013	57	5	mispricing	misprice	VERB
fbem-11013	57	6	timing	timing	NOUN
fbem-11013	57	7	is	be	AUX
fbem-11013	57	8	primarily	primarily	ADV
fbem-11013	57	9	empirical	empirical	ADJ
fbem-11013	57	10	,	,	PUNCT
fbem-11013	57	11	characterized	characterize	VERB
fbem-11013	57	12	by	by	ADP
fbem-11013	57	13	variations	variation	NOUN
fbem-11013	57	14	in	in	ADP
fbem-11013	57	15	the	the	DET
fbem-11013	57	16	choice	choice	NOUN
fbem-11013	57	17	of	of	ADP
fbem-11013	57	18	indicators	indicator	NOUN
fbem-11013	57	19	and	and	CCONJ
fbem-11013	57	20	data	datum	NOUN
fbem-11013	57	21	employed	employ	VERB
fbem-11013	57	22	to	to	PART
fbem-11013	57	23	gauge	gauge	VERB
fbem-11013	57	24	market	market	NOUN
fbem-11013	57	25	mispricing	misprice	VERB
fbem-11013	57	26	timing	timing	NOUN
fbem-11013	57	27	.	.	PUNCT
fbem-11013	58	1	scholars	scholar	NOUN
fbem-11013	58	2	have	have	VERB
fbem-11013	58	3	employed	employ	VERB
fbem-11013	58	4	indicators	indicator	NOUN
fbem-11013	58	5	such	such	ADJ
fbem-11013	58	6	as	as	ADP
fbem-11013	58	7	average	average	ADJ
fbem-11013	58	8	initial	initial	ADJ
fbem-11013	58	9	-	-	PUNCT
fbem-11013	58	10	day	day	NOUN
fbem-11013	58	11	returns	return	NOUN
fbem-11013	58	12	and	and	CCONJ
fbem-11013	58	13	market	market	NOUN
fbem-11013	58	14	conditions	condition	NOUN
fbem-11013	58	15	conducive	conducive	ADJ
fbem-11013	58	16	to	to	ADP
fbem-11013	58	17	hot	hot	ADJ
fbem-11013	58	18	issues	issue	NOUN
fbem-11013	58	19	to	to	PART
fbem-11013	58	20	capture	capture	VERB
fbem-11013	58	21	information	information	NOUN
fbem-11013	58	22	about	about	ADP
fbem-11013	58	23	market	market	NOUN
fbem-11013	58	24	mispricing	misprice	VERB
fbem-11013	58	25	timing	timing	NOUN
fbem-11013	58	26	.	.	PUNCT
fbem-11013	59	1	however	however	ADV
fbem-11013	59	2	,	,	PUNCT
fbem-11013	59	3	diverse	diverse	ADJ
fbem-11013	59	4	capital	capital	NOUN
fbem-11013	59	5	market	market	NOUN
fbem-11013	59	6	conditions	condition	NOUN
fbem-11013	59	7	necessitate	necessitate	ADJ
fbem-11013	59	8	distinct	distinct	ADJ
fbem-11013	59	9	indicator	indicator	NOUN
fbem-11013	59	10	choices	choice	NOUN
fbem-11013	59	11	,	,	PUNCT
fbem-11013	59	12	and	and	CCONJ
fbem-11013	59	13	a	a	DET
fbem-11013	59	14	single	single	ADJ
fbem-11013	59	15	indicator	indicator	NOUN
fbem-11013	59	16	might	might	AUX
fbem-11013	59	17	not	not	PART
fbem-11013	59	18	be	be	AUX
fbem-11013	59	19	suitable	suitable	ADJ
fbem-11013	59	20	across	across	ADP
fbem-11013	59	21	different	different	ADJ
fbem-11013	59	22	market	market	NOUN
fbem-11013	59	23	environments	environment	NOUN
fbem-11013	59	24	.	.	PUNCT
fbem-11013	60	1	the	the	DET
fbem-11013	60	2	majority	majority	NOUN
fbem-11013	60	3	of	of	ADP
fbem-11013	60	4	research	research	NOUN
fbem-11013	60	5	on	on	ADP
fbem-11013	60	6	market	market	NOUN
fbem-11013	60	7	mispricing	misprice	VERB
fbem-11013	60	8	timing	timing	NOUN
fbem-11013	60	9	has	have	AUX
fbem-11013	60	10	been	be	AUX
fbem-11013	60	11	conducted	conduct	VERB
fbem-11013	60	12	using	use	VERB
fbem-11013	60	13	samples	sample	NOUN
fbem-11013	60	14	from	from	ADP
fbem-11013	60	15	mature	mature	ADJ
fbem-11013	60	16	capital	capital	NOUN
fbem-11013	60	17	markets	market	NOUN
fbem-11013	60	18	in	in	ADP
fbem-11013	60	19	europe	europe	PROPN
fbem-11013	60	20	and	and	CCONJ
fbem-11013	60	21	the	the	DET
fbem-11013	60	22	united	united	PROPN
fbem-11013	60	23	states	states	PROPN
fbem-11013	60	24	,	,	PUNCT
fbem-11013	60	25	leaving	leave	VERB
fbem-11013	60	26	a	a	DET
fbem-11013	60	27	dearth	dearth	NOUN
fbem-11013	60	28	of	of	ADP
fbem-11013	60	29	research	research	NOUN
fbem-11013	60	30	focused	focus	VERB
fbem-11013	60	31	on	on	ADP
fbem-11013	60	32	china	china	PROPN
fbem-11013	60	33	's	's	PART
fbem-11013	60	34	capital	capital	NOUN
fbem-11013	60	35	market	market	NOUN
fbem-11013	60	36	.	.	PUNCT
fbem-11013	61	1	market	market	NOUN
fbem-11013	61	2	mispricing	misprice	VERB
fbem-11013	61	3	timing	timing	NOUN
fbem-11013	61	4	can	can	AUX
fbem-11013	61	5	manifest	manifest	VERB
fbem-11013	61	6	divergently	divergently	ADV
fbem-11013	61	7	across	across	ADP
fbem-11013	61	8	various	various	ADJ
fbem-11013	61	9	capital	capital	NOUN
fbem-11013	61	10	markets	market	NOUN
fbem-11013	61	11	.	.	PUNCT
fbem-11013	62	1	particularly	particularly	ADV
fbem-11013	62	2	in	in	ADP
fbem-11013	62	3	recent	recent	ADJ
fbem-11013	62	4	years	year	NOUN
fbem-11013	62	5	,	,	PUNCT
fbem-11013	62	6	owing	owe	VERB
fbem-11013	62	7	to	to	ADP
fbem-11013	62	8	the	the	DET
fbem-11013	62	9	widespread	widespread	ADJ
fbem-11013	62	10	irrational	irrational	ADJ
fbem-11013	62	11	behavior	behavior	NOUN
fbem-11013	62	12	of	of	ADP
fbem-11013	62	13	market	market	NOUN
fbem-11013	62	14	participants	participant	NOUN
fbem-11013	62	15	and	and	CCONJ
fbem-11013	62	16	the	the	DET
fbem-11013	62	17	emergence	emergence	NOUN
fbem-11013	62	18	of	of	ADP
fbem-11013	62	19	"	"	PUNCT
fbem-11013	62	20	policy	policy	NOUN
fbem-11013	62	21	-	-	PUNCT
fbem-11013	62	22	driven	drive	VERB
fbem-11013	62	23	markets	market	NOUN
fbem-11013	62	24	"	"	PUNCT
fbem-11013	62	25	arising	arise	VERB
fbem-11013	62	26	from	from	ADP
fbem-11013	62	27	imperfect	imperfect	ADJ
fbem-11013	62	28	institutional	institutional	ADJ
fbem-11013	62	29	systems	system	NOUN
fbem-11013	62	30	,	,	PUNCT
fbem-11013	62	31	china	china	PROPN
fbem-11013	62	32	's	's	PART
fbem-11013	62	33	capital	capital	NOUN
fbem-11013	62	34	market	market	NOUN
fbem-11013	62	35	has	have	AUX
fbem-11013	62	36	witnessed	witness	VERB
fbem-11013	62	37	substantial	substantial	ADJ
fbem-11013	62	38	stock	stock	NOUN
fbem-11013	62	39	price	price	NOUN
fbem-11013	62	40	fluctuations	fluctuation	NOUN
fbem-11013	62	41	and	and	CCONJ
fbem-11013	62	42	heightened	heighten	VERB
fbem-11013	62	43	information	information	NOUN
fbem-11013	62	44	asymmetry	asymmetry	NOUN
fbem-11013	62	45	.	.	PUNCT
fbem-11013	63	1	the	the	DET
fbem-11013	63	2	conspicuous	conspicuous	ADJ
fbem-11013	63	3	mispricing	mispricing	NOUN
fbem-11013	63	4	within	within	ADP
fbem-11013	63	5	china	china	PROPN
fbem-11013	63	6	's	's	PART
fbem-11013	63	7	capital	capital	NOUN
fbem-11013	63	8	market	market	NOUN
fbem-11013	63	9	offers	offer	VERB
fbem-11013	63	10	companies	company	NOUN
fbem-11013	63	11	opportunities	opportunity	NOUN
fbem-11013	63	12	to	to	PART
fbem-11013	63	13	strategically	strategically	ADV
fbem-11013	63	14	navigate	navigate	VERB
fbem-11013	63	15	mergers	merger	NOUN
fbem-11013	63	16	and	and	CCONJ
fbem-11013	63	17	acquisitions	acquisition	NOUN
fbem-11013	63	18	based	base	VERB
fbem-11013	63	19	on	on	ADP
fbem-11013	63	20	market	market	NOUN
fbem-11013	63	21	timing	timing	NOUN
fbem-11013	63	22	[	[	X
fbem-11013	63	23	10	10	NUM
fbem-11013	63	24	]	]	PUNCT
fbem-11013	63	25	.	.	PUNCT
fbem-11013	64	1	thus	thus	ADV
fbem-11013	64	2	,	,	PUNCT
fbem-11013	64	3	effectively	effectively	ADV
fbem-11013	64	4	identifying	identify	VERB
fbem-11013	64	5	timing	timing	NOUN
fbem-11013	64	6	factors	factor	NOUN
fbem-11013	64	7	in	in	ADP
fbem-11013	64	8	china	china	PROPN
fbem-11013	64	9	's	's	PART
fbem-11013	64	10	capital	capital	NOUN
fbem-11013	64	11	market	market	NOUN
fbem-11013	64	12	and	and	CCONJ
fbem-11013	64	13	augmenting	augment	VERB
fbem-11013	64	14	research	research	NOUN
fbem-11013	64	15	on	on	ADP
fbem-11013	64	16	market	market	NOUN
fbem-11013	64	17	timing	timing	NOUN
fbem-11013	64	18	within	within	ADP
fbem-11013	64	19	this	this	DET
fbem-11013	64	20	context	context	NOUN
fbem-11013	64	21	bear	bear	VERB
fbem-11013	64	22	significant	significant	ADJ
fbem-11013	64	23	theoretical	theoretical	ADJ
fbem-11013	64	24	and	and	CCONJ
fbem-11013	64	25	practical	practical	ADJ
fbem-11013	64	26	implications	implication	NOUN
fbem-11013	64	27	for	for	ADP
fbem-11013	64	28	refining	refining	NOUN
fbem-11013	64	29	theories	theory	NOUN
fbem-11013	64	30	and	and	CCONJ
fbem-11013	64	31	regulating	regulate	VERB
fbem-11013	64	32	the	the	DET
fbem-11013	64	33	trajectory	trajectory	NOUN
fbem-11013	64	34	of	of	ADP
fbem-11013	64	35	china	china	PROPN
fbem-11013	64	36	's	's	PART
fbem-11013	64	37	capital	capital	NOUN
fbem-11013	64	38	market	market	NOUN
fbem-11013	64	39	.	.	PUNCT
fbem-11013	65	1	2.2	2.2	NUM
fbem-11013	65	2	.	.	PUNCT
fbem-11013	65	3	review	review	NOUN
fbem-11013	65	4	of	of	ADP
fbem-11013	65	5	post	post	ADJ
fbem-11013	65	6	-	-	ADJ
fbem-11013	65	7	acquisition	acquisition	ADJ
fbem-11013	65	8	performance	performance	NOUN
fbem-11013	65	9	research	research	NOUN
fbem-11013	65	10	into	into	ADP
fbem-11013	65	11	m&a	m&a	PROPN
fbem-11013	65	12	performance	performance	NOUN
fbem-11013	65	13	has	have	AUX
fbem-11013	65	14	been	be	AUX
fbem-11013	65	15	extensively	extensively	ADV
fbem-11013	65	16	explored	explore	VERB
fbem-11013	65	17	on	on	ADP
fbem-11013	65	18	a	a	DET
fbem-11013	65	19	global	global	ADJ
fbem-11013	65	20	scale	scale	NOUN
fbem-11013	65	21	,	,	PUNCT
fbem-11013	65	22	yielding	yield	VERB
fbem-11013	65	23	diverse	diverse	ADJ
fbem-11013	65	24	conclusions	conclusion	NOUN
fbem-11013	65	25	.	.	PUNCT
fbem-11013	66	1	the	the	DET
fbem-11013	66	2	achievement	achievement	NOUN
fbem-11013	66	3	or	or	CCONJ
fbem-11013	66	4	failure	failure	NOUN
fbem-11013	66	5	of	of	ADP
fbem-11013	66	6	m&a	m&a	PROPN
fbem-11013	66	7	transactions	transaction	NOUN
fbem-11013	66	8	remains	remain	VERB
fbem-11013	66	9	an	an	DET
fbem-11013	66	10	ongoing	ongoing	ADJ
fbem-11013	66	11	subject	subject	NOUN
fbem-11013	66	12	of	of	ADP
fbem-11013	66	13	debate	debate	NOUN
fbem-11013	66	14	within	within	ADP
fbem-11013	66	15	both	both	DET
fbem-11013	66	16	practitioner	practitioner	NOUN
fbem-11013	66	17	and	and	CCONJ
fbem-11013	66	18	academic	academic	ADJ
fbem-11013	66	19	circles	circle	NOUN
fbem-11013	66	20	.	.	PUNCT
fbem-11013	67	1	while	while	SCONJ
fbem-11013	67	2	extensive	extensive	ADJ
fbem-11013	67	3	discussions	discussion	NOUN
fbem-11013	67	4	have	have	AUX
fbem-11013	67	5	taken	take	VERB
fbem-11013	67	6	place	place	NOUN
fbem-11013	67	7	on	on	ADP
fbem-11013	67	8	this	this	DET
fbem-11013	67	9	subject	subject	NOUN
fbem-11013	67	10	,	,	PUNCT
fbem-11013	67	11	consensus	consensus	NOUN
fbem-11013	67	12	regarding	regard	VERB
fbem-11013	67	13	conclusions	conclusion	NOUN
fbem-11013	67	14	,	,	PUNCT
fbem-11013	67	15	methodologies	methodology	NOUN
fbem-11013	67	16	,	,	PUNCT
fbem-11013	67	17	and	and	CCONJ
fbem-11013	67	18	the	the	DET
fbem-11013	67	19	identification	identification	NOUN
fbem-11013	67	20	of	of	ADP
fbem-11013	67	21	independent	independent	ADJ
fbem-11013	67	22	and	and	CCONJ
fbem-11013	67	23	dependent	dependent	ADJ
fbem-11013	67	24	variables	variable	NOUN
fbem-11013	67	25	remains	remain	VERB
fbem-11013	67	26	elusive	elusive	ADJ
fbem-11013	67	27	.	.	PUNCT
fbem-11013	68	1	the	the	DET
fbem-11013	68	2	evidence	evidence	NOUN
fbem-11013	68	3	presented	present	VERB
fbem-11013	68	4	in	in	ADP
fbem-11013	68	5	m&a	m&a	PROPN
fbem-11013	68	6	literature	literature	NOUN
fbem-11013	68	7	is	be	AUX
fbem-11013	68	8	notably	notably	ADV
fbem-11013	68	9	inconsistent	inconsistent	ADJ
fbem-11013	68	10	.	.	PUNCT
fbem-11013	69	1	while	while	SCONJ
fbem-11013	69	2	most	most	ADJ
fbem-11013	69	3	scholars	scholar	NOUN
fbem-11013	69	4	indicate	indicate	VERB
fbem-11013	69	5	that	that	DET
fbem-11013	69	6	m&a	m&a	PROPN
fbem-11013	69	7	can	can	AUX
fbem-11013	69	8	generate	generate	VERB
fbem-11013	69	9	surplus	surplus	ADJ
fbem-11013	69	10	returns	return	NOUN
fbem-11013	69	11	for	for	ADP
fbem-11013	69	12	target	target	NOUN
fbem-11013	69	13	companies	company	NOUN
fbem-11013	69	14	,	,	PUNCT
fbem-11013	69	15	the	the	DET
fbem-11013	69	16	research	research	NOUN
fbem-11013	69	17	outcomes	outcome	NOUN
fbem-11013	69	18	concerning	concern	VERB
fbem-11013	69	19	the	the	DET
fbem-11013	69	20	performance	performance	NOUN
fbem-11013	69	21	of	of	ADP
fbem-11013	69	22	acquirers	acquirer	NOUN
fbem-11013	69	23	show	show	VERB
fbem-11013	69	24	discrepancies	discrepancy	NOUN
fbem-11013	69	25	[	[	X
fbem-11013	69	26	25	25	NUM
fbem-11013	69	27	]	]	PUNCT
fbem-11013	69	28	krishnamurti	krishnamurti	PROPN
fbem-11013	69	29	,	,	PUNCT
fbem-11013	69	30	shams	sham	VERB
fbem-11013	70	1	[	[	X
fbem-11013	70	2	25	25	NUM
fbem-11013	70	3	]	]	X
fbem-11013	70	4	aggarwal	aggarwal	NOUN
fbem-11013	70	5	and	and	CCONJ
fbem-11013	70	6	garg	garg	NOUN
fbem-11013	71	1	[	[	X
fbem-11013	71	2	26	26	NUM
fbem-11013	71	3	]	]	PUNCT
fbem-11013	71	4	borodin	borodin	NOUN
fbem-11013	71	5	,	,	PUNCT
fbem-11013	71	6	sayabek	sayabek	NOUN
fbem-11013	72	1	[	[	X
fbem-11013	72	2	27	27	NUM
fbem-11013	72	3	]	]	PUNCT
fbem-11013	72	4	.	.	PUNCT
fbem-11013	73	1	conversely	conversely	ADV
fbem-11013	73	2	,	,	PUNCT
fbem-11013	73	3	other	other	ADJ
fbem-11013	73	4	studies	study	NOUN
fbem-11013	73	5	propose	propose	VERB
fbem-11013	73	6	a	a	DET
fbem-11013	73	7	negative	negative	ADJ
fbem-11013	73	8	impact	impact	NOUN
fbem-11013	73	9	of	of	ADP
fbem-11013	73	10	m&a	m&a	PROPN
fbem-11013	73	11	on	on	ADP
fbem-11013	73	12	post	post	ADJ
fbem-11013	73	13	-	-	ADJ
fbem-11013	73	14	acquisition	acquisition	ADJ
fbem-11013	73	15	performance	performance	NOUN
fbem-11013	73	16	[	[	X
fbem-11013	73	17	28	28	NUM
fbem-11013	73	18	]	]	PUNCT
fbem-11013	73	19	renneboog	renneboog	NOUN
fbem-11013	73	20	and	and	CCONJ
fbem-11013	73	21	vansteenkiste	vansteenkiste	NOUN
fbem-11013	73	22	[	[	X
fbem-11013	73	23	29	29	NUM
fbem-11013	73	24	]	]	PUNCT
fbem-11013	73	25	.	.	PUNCT
fbem-11013	74	1	a	a	DET
fbem-11013	74	2	thorough	thorough	ADJ
fbem-11013	74	3	literature	literature	NOUN
fbem-11013	74	4	review	review	NOUN
fbem-11013	74	5	highlights	highlight	NOUN
fbem-11013	74	6	that	that	SCONJ
fbem-11013	74	7	determining	determine	VERB
fbem-11013	74	8	whether	whether	SCONJ
fbem-11013	74	9	m&a	m&a	PROPN
fbem-11013	74	10	results	result	NOUN
fbem-11013	74	11	in	in	ADP
fbem-11013	74	12	value	value	NOUN
fbem-11013	74	13	creation	creation	NOUN
fbem-11013	74	14	or	or	CCONJ
fbem-11013	74	15	destruction	destruction	NOUN
fbem-11013	74	16	is	be	AUX
fbem-11013	74	17	a	a	DET
fbem-11013	74	18	complex	complex	ADJ
fbem-11013	74	19	endeavor	endeavor	NOUN
fbem-11013	74	20	.	.	PUNCT
fbem-11013	75	1	despite	despite	SCONJ
fbem-11013	75	2	in	in	ADP
fbem-11013	75	3	-	-	PUNCT
fbem-11013	75	4	depth	depth	NOUN
fbem-11013	75	5	explorations	exploration	NOUN
fbem-11013	75	6	into	into	ADP
fbem-11013	75	7	underperforming	underperform	VERB
fbem-11013	75	8	post	post	NOUN
fbem-11013	75	9	-	-	NOUN
fbem-11013	75	10	acquisitions	acquisition	NOUN
fbem-11013	75	11	,	,	PUNCT
fbem-11013	75	12	the	the	DET
fbem-11013	75	13	understanding	understanding	NOUN
fbem-11013	75	14	of	of	ADP
fbem-11013	75	15	the	the	DET
fbem-11013	75	16	underlying	underlie	VERB
fbem-11013	75	17	causes	cause	NOUN
fbem-11013	75	18	remains	remain	VERB
fbem-11013	75	19	limited	limited	ADJ
fbem-11013	75	20	[	[	PUNCT
fbem-11013	75	21	29	29	NUM
fbem-11013	75	22	]	]	PUNCT
fbem-11013	75	23	.	.	PUNCT
fbem-11013	76	1	the	the	DET
fbem-11013	76	2	question	question	NOUN
fbem-11013	76	3	"	"	PUNCT
fbem-11013	76	4	what	what	DET
fbem-11013	76	5	factors	factor	NOUN
fbem-11013	76	6	lead	lead	VERB
fbem-11013	76	7	to	to	ADP
fbem-11013	76	8	success	success	NOUN
fbem-11013	76	9	or	or	CCONJ
fbem-11013	76	10	failure	failure	NOUN
fbem-11013	76	11	in	in	ADP
fbem-11013	76	12	m&a	m&a	PROPN
fbem-11013	76	13	transactions	transaction	NOUN
fbem-11013	76	14	?	?	PUNCT
fbem-11013	76	15	"	"	PUNCT
fbem-11013	76	16	has	have	AUX
fbem-11013	76	17	emerged	emerge	VERB
fbem-11013	76	18	as	as	ADP
fbem-11013	76	19	a	a	DET
fbem-11013	76	20	prominent	prominent	ADJ
fbem-11013	76	21	subject	subject	NOUN
fbem-11013	76	22	of	of	ADP
fbem-11013	76	23	contemporary	contemporary	ADJ
fbem-11013	76	24	research	research	NOUN
fbem-11013	76	25	.	.	PUNCT
fbem-11013	77	1	identifying	identify	VERB
fbem-11013	77	2	the	the	DET
fbem-11013	77	3	driving	drive	VERB
fbem-11013	77	4	forces	force	NOUN
fbem-11013	77	5	behind	behind	ADP
fbem-11013	77	6	short	short	ADJ
fbem-11013	77	7	-	-	PUNCT
fbem-11013	77	8	term	term	NOUN
fbem-11013	77	9	or	or	CCONJ
fbem-11013	77	10	long	long	ADJ
fbem-11013	77	11	-	-	PUNCT
fbem-11013	77	12	term	term	NOUN
fbem-11013	77	13	abnormal	abnormal	ADJ
fbem-11013	77	14	returns	return	NOUN
fbem-11013	77	15	poses	pose	VERB
fbem-11013	77	16	a	a	DET
fbem-11013	77	17	challenge	challenge	NOUN
fbem-11013	77	18	,	,	PUNCT
fbem-11013	77	19	as	as	SCONJ
fbem-11013	77	20	these	these	DET
fbem-11013	77	21	returns	return	NOUN
fbem-11013	77	22	might	might	AUX
fbem-11013	77	23	not	not	PART
fbem-11013	77	24	solely	solely	ADV
fbem-11013	77	25	reflect	reflect	VERB
fbem-11013	77	26	the	the	DET
fbem-11013	77	27	intrinsic	intrinsic	ADJ
fbem-11013	77	28	value	value	NOUN
fbem-11013	77	29	of	of	ADP
fbem-11013	77	30	the	the	DET
fbem-11013	77	31	acquirer	acquirer	NOUN
fbem-11013	77	32	,	,	PUNCT
fbem-11013	77	33	but	but	CCONJ
fbem-11013	77	34	also	also	ADV
fbem-11013	77	35	the	the	DET
fbem-11013	77	36	synergies	synergy	NOUN
fbem-11013	77	37	arising	arise	VERB
fbem-11013	77	38	from	from	ADP
fbem-11013	77	39	the	the	DET
fbem-11013	77	40	merger	merger	NOUN
fbem-11013	77	41	and	and	CCONJ
fbem-11013	77	42	the	the	DET
fbem-11013	77	43	premium	premium	NOUN
fbem-11013	77	44	the	the	DET
fbem-11013	77	45	bidding	bidding	NOUN
fbem-11013	77	46	company	company	NOUN
fbem-11013	77	47	may	may	AUX
fbem-11013	77	48	have	have	AUX
fbem-11013	77	49	paid	pay	VERB
fbem-11013	77	50	excessively	excessively	ADV
fbem-11013	77	51	[	[	X
fbem-11013	77	52	30	30	NUM
fbem-11013	77	53	]	]	PUNCT
fbem-11013	77	54	.	.	PUNCT
fbem-11013	78	1	despite	despite	SCONJ
fbem-11013	78	2	numerous	numerous	ADJ
fbem-11013	78	3	academic	academic	ADJ
fbem-11013	78	4	investigations	investigation	NOUN
fbem-11013	78	5	into	into	ADP
fbem-11013	78	6	transaction	transaction	NOUN
fbem-11013	78	7	and	and	CCONJ
fbem-11013	78	8	firmlevel	firmlevel	ADJ
fbem-11013	78	9	factors	factor	NOUN
fbem-11013	78	10	associated	associate	VERB
fbem-11013	78	11	with	with	ADP
fbem-11013	78	12	m&a	m&a	PROPN
fbem-11013	78	13	announcement	announcement	NOUN
fbem-11013	78	14	returns	return	NOUN
fbem-11013	78	15	,	,	PUNCT
fbem-11013	78	16	the	the	DET
fbem-11013	78	17	sustainability	sustainability	NOUN
fbem-11013	78	18	of	of	ADP
fbem-11013	78	19	short	short	ADJ
fbem-11013	78	20	-	-	PUNCT
fbem-11013	78	21	term	term	NOUN
fbem-11013	78	22	returns	return	NOUN
fbem-11013	78	23	into	into	ADP
fbem-11013	78	24	the	the	DET
fbem-11013	78	25	long	long	ADJ
fbem-11013	78	26	term	term	NOUN
fbem-11013	78	27	often	often	ADV
fbem-11013	78	28	proves	prove	VERB
fbem-11013	78	29	elusive	elusive	ADJ
fbem-11013	78	30	[	[	X
fbem-11013	78	31	29	29	NUM
fbem-11013	78	32	]	]	PUNCT
fbem-11013	78	33	.	.	PUNCT
fbem-11013	79	1	guided	guide	VERB
fbem-11013	79	2	by	by	ADP
fbem-11013	79	3	these	these	DET
fbem-11013	79	4	mixed	mixed	ADJ
fbem-11013	79	5	findings	finding	NOUN
fbem-11013	79	6	,	,	PUNCT
fbem-11013	79	7	this	this	DET
fbem-11013	79	8	study	study	NOUN
fbem-11013	79	9	positions	position	VERB
fbem-11013	79	10	the	the	DET
fbem-11013	79	11	identification	identification	NOUN
fbem-11013	79	12	of	of	ADP
fbem-11013	79	13	key	key	ADJ
fbem-11013	79	14	factors	factor	NOUN
fbem-11013	79	15	explaining	explain	VERB
fbem-11013	79	16	the	the	DET
fbem-11013	79	17	post	post	ADJ
fbem-11013	79	18	-	-	ADJ
fbem-11013	79	19	acquisition	acquisition	ADJ
fbem-11013	79	20	performance	performance	NOUN
fbem-11013	79	21	of	of	ADP
fbem-11013	79	22	chinese	chinese	ADJ
fbem-11013	79	23	companies	company	NOUN
fbem-11013	79	24	as	as	ADP
fbem-11013	79	25	its	its	PRON
fbem-11013	79	26	focal	focal	ADJ
fbem-11013	79	27	point	point	NOUN
fbem-11013	79	28	.	.	PUNCT
fbem-11013	80	1	presently	presently	ADV
fbem-11013	80	2	,	,	PUNCT
fbem-11013	80	3	consensus	consensus	NOUN
fbem-11013	80	4	eludes	elude	VERB
fbem-11013	80	5	scholars	scholar	NOUN
fbem-11013	80	6	regarding	regard	VERB
fbem-11013	80	7	the	the	DET
fbem-11013	80	8	dimensions	dimension	NOUN
fbem-11013	80	9	of	of	ADP
fbem-11013	80	10	post	post	ADJ
fbem-11013	80	11	-	-	ADJ
fbem-11013	80	12	acquisition	acquisition	ADJ
fbem-11013	80	13	performance	performance	NOUN
fbem-11013	80	14	evaluation	evaluation	NOUN
fbem-11013	80	15	.	.	PUNCT
fbem-11013	81	1	an	an	DET
fbem-11013	81	2	analysis	analysis	NOUN
fbem-11013	81	3	of	of	ADP
fbem-11013	81	4	existing	exist	VERB
fbem-11013	81	5	literature	literature	NOUN
fbem-11013	81	6	underscores	underscore	VERB
fbem-11013	81	7	that	that	SCONJ
fbem-11013	81	8	the	the	DET
fbem-11013	81	9	assessment	assessment	NOUN
fbem-11013	81	10	of	of	ADP
fbem-11013	81	11	post	post	ADJ
fbem-11013	81	12	-	-	ADJ
fbem-11013	81	13	acquisition	acquisition	ADJ
fbem-11013	81	14	performance	performance	NOUN
fbem-11013	81	15	primarily	primarily	ADV
fbem-11013	81	16	revolves	revolve	VERB
fbem-11013	81	17	around	around	ADP
fbem-11013	81	18	two	two	NUM
fbem-11013	81	19	dimensions	dimension	NOUN
fbem-11013	81	20	:	:	PUNCT
fbem-11013	81	21	one	one	NUM
fbem-11013	81	22	based	base	VERB
fbem-11013	81	23	on	on	ADP
fbem-11013	81	24	market	market	NOUN
fbem-11013	81	25	performance	performance	NOUN
fbem-11013	81	26	gauged	gauge	VERB
fbem-11013	81	27	by	by	ADP
fbem-11013	81	28	stock	stock	NOUN
fbem-11013	81	29	price	price	NOUN
fbem-11013	81	30	reactions	reaction	NOUN
fbem-11013	81	31	,	,	PUNCT
fbem-11013	81	32	and	and	CCONJ
fbem-11013	81	33	another	another	DET
fbem-11013	81	34	dimension	dimension	NOUN
fbem-11013	81	35	based	base	VERB
fbem-11013	81	36	on	on	ADP
fbem-11013	81	37	financial	financial	ADJ
fbem-11013	81	38	performance	performance	NOUN
fbem-11013	81	39	gauged	gauge	VERB
fbem-11013	81	40	by	by	ADP
fbem-11013	81	41	the	the	DET
fbem-11013	81	42	company	company	NOUN
fbem-11013	81	43	's	's	PART
fbem-11013	81	44	operational	operational	ADJ
fbem-11013	81	45	performance	performance	NOUN
fbem-11013	81	46	.	.	PUNCT
fbem-11013	82	1	concerning	concern	VERB
fbem-11013	82	2	the	the	DET
fbem-11013	82	3	measurement	measurement	NOUN
fbem-11013	82	4	methods	method	NOUN
fbem-11013	82	5	of	of	ADP
fbem-11013	82	6	postacquisition	postacquisition	NOUN
fbem-11013	82	7	performance	performance	NOUN
fbem-11013	82	8	,	,	PUNCT
fbem-11013	82	9	scholars	scholar	NOUN
fbem-11013	82	10	commonly	commonly	ADV
fbem-11013	82	11	employ	employ	VERB
fbem-11013	82	12	stock	stock	NOUN
fbem-11013	82	13	prices	price	NOUN
fbem-11013	82	14	or	or	CCONJ
fbem-11013	82	15	metrics	metric	NOUN
fbem-11013	82	16	such	such	ADJ
fbem-11013	82	17	as	as	ADP
fbem-11013	82	18	cumulative	cumulative	ADJ
fbem-11013	82	19	abnormal	abnormal	ADJ
fbem-11013	82	20	returns	return	NOUN
fbem-11013	82	21	(	(	PUNCT
fbem-11013	82	22	cars	car	NOUN
fbem-11013	82	23	)	)	PUNCT
fbem-11013	82	24	,	,	PUNCT
fbem-11013	82	25	standard	standard	ADJ
fbem-11013	82	26	deviation	deviation	NOUN
fbem-11013	82	27	of	of	ADP
fbem-11013	82	28	abnormal	abnormal	ADJ
fbem-11013	82	29	returns	return	NOUN
fbem-11013	82	30	,	,	PUNCT
fbem-11013	82	31	buy	buy	NOUN
fbem-11013	82	32	-	-	PUNCT
fbem-11013	82	33	andhold	andhold	VERB
fbem-11013	82	34	abnormal	abnormal	ADJ
fbem-11013	82	35	returns	return	NOUN
fbem-11013	82	36	(	(	PUNCT
fbem-11013	82	37	bhars	bhar	NOUN
fbem-11013	82	38	)	)	PUNCT
fbem-11013	82	39	,	,	PUNCT
fbem-11013	82	40	and	and	CCONJ
fbem-11013	82	41	changes	change	NOUN
fbem-11013	82	42	in	in	ADP
fbem-11013	82	43	beta	beta	NOUN
fbem-11013	82	44	as	as	ADP
fbem-11013	82	45	criteria	criterion	NOUN
fbem-11013	82	46	for	for	ADP
fbem-11013	82	47	assessing	assess	VERB
fbem-11013	82	48	market	market	NOUN
fbem-11013	82	49	performance	performance	NOUN
fbem-11013	82	50	.	.	PUNCT
fbem-11013	83	1	in	in	ADP
fbem-11013	83	2	contrast	contrast	NOUN
fbem-11013	83	3	,	,	PUNCT
fbem-11013	83	4	the	the	DET
fbem-11013	83	5	methods	method	NOUN
fbem-11013	83	6	for	for	ADP
fbem-11013	83	7	measuring	measure	VERB
fbem-11013	83	8	financial	financial	ADJ
fbem-11013	83	9	performance	performance	NOUN
fbem-11013	83	10	are	be	AUX
fbem-11013	83	11	more	more	ADV
fbem-11013	83	12	diverse	diverse	ADJ
fbem-11013	83	13	,	,	PUNCT
fbem-11013	83	14	broadly	broadly	ADV
fbem-11013	83	15	categorized	categorize	VERB
fbem-11013	83	16	into	into	ADP
fbem-11013	83	17	single	single	ADJ
fbem-11013	83	18	indicators	indicator	NOUN
fbem-11013	83	19	and	and	CCONJ
fbem-11013	83	20	composite	composite	ADJ
fbem-11013	83	21	indicators	indicator	NOUN
fbem-11013	83	22	.	.	PUNCT
fbem-11013	84	1	frequently	frequently	ADV
fbem-11013	84	2	utilized	utilize	VERB
fbem-11013	84	3	financial	financial	ADJ
fbem-11013	84	4	indicators	indicator	NOUN
fbem-11013	84	5	include	include	VERB
fbem-11013	84	6	return	return	NOUN
fbem-11013	84	7	on	on	ADP
fbem-11013	84	8	assets	asset	NOUN
fbem-11013	84	9	(	(	PUNCT
fbem-11013	84	10	roa	roa	NOUN
fbem-11013	84	11	)	)	PUNCT
fbem-11013	84	12	,	,	PUNCT
fbem-11013	84	13	return	return	VERB
fbem-11013	84	14	on	on	ADP
fbem-11013	84	15	capital	capital	NOUN
fbem-11013	84	16	employed	employ	VERB
fbem-11013	84	17	(	(	PUNCT
fbem-11013	84	18	roce	roce	NOUN
fbem-11013	84	19	)	)	PUNCT
fbem-11013	84	20	,	,	PUNCT
fbem-11013	84	21	and	and	CCONJ
fbem-11013	84	22	return	return	VERB
fbem-11013	84	23	on	on	ADP
fbem-11013	84	24	sales	sale	NOUN
fbem-11013	84	25	(	(	PUNCT
fbem-11013	84	26	ros	ros	PROPN
fbem-11013	84	27	)	)	PUNCT
fbem-11013	84	28	.	.	PUNCT
fbem-11013	85	1	251	251	NUM
fbem-11013	85	2	2.3	2.3	NUM
fbem-11013	85	3	.	.	PUNCT
fbem-11013	86	1	review	review	NOUN
fbem-11013	86	2	of	of	ADP
fbem-11013	86	3	the	the	DET
fbem-11013	86	4	relationships	relationship	NOUN
fbem-11013	86	5	between	between	ADP
fbem-11013	86	6	market	market	NOUN
fbem-11013	86	7	mispricing	misprice	VERB
fbem-11013	86	8	timing	timing	NOUN
fbem-11013	86	9	and	and	CCONJ
fbem-11013	86	10	postacquisition	postacquisition	NOUN
fbem-11013	86	11	performance	performance	NOUN
fbem-11013	86	12	the	the	DET
fbem-11013	86	13	body	body	NOUN
fbem-11013	86	14	of	of	ADP
fbem-11013	86	15	literature	literature	NOUN
fbem-11013	86	16	concerning	concern	VERB
fbem-11013	86	17	market	market	NOUN
fbem-11013	86	18	mispricing	misprice	VERB
fbem-11013	86	19	timing	timing	NOUN
fbem-11013	86	20	and	and	CCONJ
fbem-11013	86	21	m&a	m&a	PROPN
fbem-11013	86	22	performance	performance	NOUN
fbem-11013	86	23	presents	present	VERB
fbem-11013	86	24	a	a	DET
fbem-11013	86	25	spectrum	spectrum	NOUN
fbem-11013	86	26	of	of	ADP
fbem-11013	86	27	perspectives	perspective	NOUN
fbem-11013	86	28	and	and	CCONJ
fbem-11013	86	29	outcomes	outcome	NOUN
fbem-11013	86	30	.	.	PUNCT
fbem-11013	87	1	for	for	ADP
fbem-11013	87	2	instance	instance	NOUN
fbem-11013	87	3	,	,	PUNCT
fbem-11013	87	4	the	the	DET
fbem-11013	87	5	investigation	investigation	NOUN
fbem-11013	87	6	conducted	conduct	VERB
fbem-11013	87	7	by	by	ADP
fbem-11013	87	8	farinós	farinós	NOUN
fbem-11013	87	9	,	,	PUNCT
fbem-11013	87	10	herrero	herrero	PROPN
fbem-11013	88	1	[	[	X
fbem-11013	88	2	31	31	NUM
fbem-11013	88	3	]	]	PUNCT
fbem-11013	88	4	delves	delve	VERB
fbem-11013	88	5	into	into	ADP
fbem-11013	88	6	the	the	DET
fbem-11013	88	7	short	short	ADJ
fbem-11013	88	8	-	-	PUNCT
fbem-11013	88	9	term	term	NOUN
fbem-11013	88	10	and	and	CCONJ
fbem-11013	88	11	long	long	ADJ
fbem-11013	88	12	-	-	PUNCT
fbem-11013	88	13	term	term	NOUN
fbem-11013	88	14	performance	performance	NOUN
fbem-11013	88	15	of	of	ADP
fbem-11013	88	16	acquiring	acquire	VERB
fbem-11013	88	17	companies	company	NOUN
fbem-11013	88	18	during	during	ADP
fbem-11013	88	19	periods	period	NOUN
fbem-11013	88	20	of	of	ADP
fbem-11013	88	21	market	market	NOUN
fbem-11013	88	22	overvaluation	overvaluation	NOUN
fbem-11013	88	23	and	and	CCONJ
fbem-11013	88	24	undervaluation	undervaluation	NOUN
fbem-11013	88	25	.	.	PUNCT
fbem-11013	89	1	their	their	PRON
fbem-11013	89	2	focus	focus	NOUN
fbem-11013	89	3	centers	center	NOUN
fbem-11013	89	4	on	on	ADP
fbem-11013	89	5	the	the	DET
fbem-11013	89	6	responses	response	NOUN
fbem-11013	89	7	to	to	ADP
fbem-11013	89	8	acquisition	acquisition	NOUN
fbem-11013	89	9	announcements	announcement	NOUN
fbem-11013	89	10	within	within	ADP
fbem-11013	89	11	spanish	spanish	ADJ
fbem-11013	89	12	listed	list	VERB
fbem-11013	89	13	companies	company	NOUN
fbem-11013	89	14	from	from	ADP
fbem-11013	89	15	1991	1991	NUM
fbem-11013	89	16	to	to	ADP
fbem-11013	89	17	2016	2016	NUM
fbem-11013	89	18	.	.	PUNCT
fbem-11013	90	1	their	their	PRON
fbem-11013	90	2	research	research	NOUN
fbem-11013	90	3	underscores	underscore	VERB
fbem-11013	90	4	that	that	SCONJ
fbem-11013	90	5	,	,	PUNCT
fbem-11013	90	6	during	during	ADP
fbem-11013	90	7	market	market	NOUN
fbem-11013	90	8	overvaluation	overvaluation	NOUN
fbem-11013	90	9	,	,	PUNCT
fbem-11013	90	10	acquirers	acquirer	NOUN
fbem-11013	90	11	exhibit	exhibit	VERB
fbem-11013	90	12	full	full	ADJ
fbem-11013	90	13	reactions	reaction	NOUN
fbem-11013	90	14	on	on	ADP
fbem-11013	90	15	the	the	DET
fbem-11013	90	16	announcement	announcement	NOUN
fbem-11013	90	17	day	day	NOUN
fbem-11013	90	18	,	,	PUNCT
fbem-11013	90	19	while	while	SCONJ
fbem-11013	90	20	inadequate	inadequate	ADJ
fbem-11013	90	21	responses	response	NOUN
fbem-11013	90	22	during	during	ADP
fbem-11013	90	23	undervaluation	undervaluation	NOUN
fbem-11013	90	24	result	result	NOUN
fbem-11013	90	25	in	in	ADP
fbem-11013	90	26	sustained	sustained	ADJ
fbem-11013	90	27	returns	return	NOUN
fbem-11013	90	28	.	.	PUNCT
fbem-11013	91	1	similarly	similarly	ADV
fbem-11013	91	2	,	,	PUNCT
fbem-11013	91	3	tsai	tsai	PROPN
fbem-11013	91	4	,	,	PUNCT
fbem-11013	91	5	yen	yen	NOUN
fbem-11013	92	1	[	[	X
fbem-11013	92	2	32	32	NUM
fbem-11013	92	3	]	]	PUNCT
fbem-11013	92	4	posit	posit	NOUN
fbem-11013	92	5	that	that	SCONJ
fbem-11013	92	6	pre	pre	ADJ
fbem-11013	92	7	-	-	ADJ
fbem-11013	92	8	acquisition	acquisition	ADJ
fbem-11013	92	9	market	market	NOUN
fbem-11013	92	10	timing	timing	NOUN
fbem-11013	92	11	plays	play	VERB
fbem-11013	92	12	a	a	DET
fbem-11013	92	13	significant	significant	ADJ
fbem-11013	92	14	role	role	NOUN
fbem-11013	92	15	in	in	ADP
fbem-11013	92	16	shaping	shape	VERB
fbem-11013	92	17	market	market	NOUN
fbem-11013	92	18	reactions	reaction	NOUN
fbem-11013	92	19	following	follow	VERB
fbem-11013	92	20	m&a	m&a	PROPN
fbem-11013	92	21	announcements	announcement	NOUN
fbem-11013	92	22	.	.	PUNCT
fbem-11013	93	1	this	this	DET
fbem-11013	93	2	viewpoint	viewpoint	NOUN
fbem-11013	93	3	underscores	underscore	VERB
fbem-11013	93	4	the	the	DET
fbem-11013	93	5	pivotal	pivotal	ADJ
fbem-11013	93	6	influence	influence	NOUN
fbem-11013	93	7	of	of	ADP
fbem-11013	93	8	market	market	NOUN
fbem-11013	93	9	sentiment	sentiment	NOUN
fbem-11013	93	10	and	and	CCONJ
fbem-11013	93	11	valuation	valuation	NOUN
fbem-11013	93	12	in	in	ADP
fbem-11013	93	13	shaping	shape	VERB
fbem-11013	93	14	investor	investor	NOUN
fbem-11013	93	15	responses	response	NOUN
fbem-11013	93	16	and	and	CCONJ
fbem-11013	93	17	anticipations	anticipation	NOUN
fbem-11013	93	18	during	during	ADP
fbem-11013	93	19	the	the	DET
fbem-11013	93	20	announcement	announcement	NOUN
fbem-11013	93	21	phase	phase	NOUN
fbem-11013	93	22	.	.	PUNCT
fbem-11013	94	1	fu	fu	PROPN
fbem-11013	94	2	and	and	CCONJ
fbem-11013	94	3	xia	xia	PROPN
fbem-11013	94	4	's	's	PART
fbem-11013	94	5	[	[	X
fbem-11013	94	6	17	17	NUM
fbem-11013	94	7	]	]	PUNCT
fbem-11013	94	8	study	study	NOUN
fbem-11013	94	9	,	,	PUNCT
fbem-11013	94	10	which	which	PRON
fbem-11013	94	11	examines	examine	VERB
fbem-11013	94	12	a	a	DET
fbem-11013	94	13	sample	sample	NOUN
fbem-11013	94	14	of	of	ADP
fbem-11013	94	15	264	264	NUM
fbem-11013	94	16	m&a	m&a	PROPN
fbem-11013	94	17	events	event	NOUN
fbem-11013	94	18	involving	involve	VERB
fbem-11013	94	19	chinese	chinese	ADJ
fbem-11013	94	20	listed	list	VERB
fbem-11013	94	21	companies	company	NOUN
fbem-11013	94	22	from	from	ADP
fbem-11013	94	23	2010	2010	NUM
fbem-11013	94	24	to	to	ADP
fbem-11013	94	25	2015	2015	NUM
fbem-11013	94	26	,	,	PUNCT
fbem-11013	94	27	demonstrates	demonstrate	VERB
fbem-11013	94	28	the	the	DET
fbem-11013	94	29	substantial	substantial	ADJ
fbem-11013	94	30	impact	impact	NOUN
fbem-11013	94	31	of	of	ADP
fbem-11013	94	32	market	market	NOUN
fbem-11013	94	33	mispricing	misprice	VERB
fbem-11013	94	34	on	on	ADP
fbem-11013	94	35	both	both	DET
fbem-11013	94	36	m&a	m&a	PROPN
fbem-11013	94	37	decision	decision	NOUN
fbem-11013	94	38	-	-	PUNCT
fbem-11013	94	39	making	making	NOUN
fbem-11013	94	40	and	and	CCONJ
fbem-11013	94	41	post	post	ADJ
fbem-11013	94	42	-	-	ADJ
fbem-11013	94	43	acquisition	acquisition	ADJ
fbem-11013	94	44	performance	performance	NOUN
fbem-11013	94	45	of	of	ADP
fbem-11013	94	46	acquiring	acquire	VERB
fbem-11013	94	47	companies	company	NOUN
fbem-11013	94	48	.	.	PUNCT
fbem-11013	95	1	this	this	DET
fbem-11013	95	2	study	study	NOUN
fbem-11013	95	3	elucidates	elucidate	VERB
fbem-11013	95	4	the	the	DET
fbem-11013	95	5	tangible	tangible	ADJ
fbem-11013	95	6	realworld	realworld	PROPN
fbem-11013	95	7	repercussions	repercussion	NOUN
fbem-11013	95	8	of	of	ADP
fbem-11013	95	9	market	market	NOUN
fbem-11013	95	10	mispricing	misprice	VERB
fbem-11013	95	11	on	on	ADP
fbem-11013	95	12	m&a	m&a	PROPN
fbem-11013	95	13	outcomes	outcome	NOUN
fbem-11013	95	14	within	within	ADP
fbem-11013	95	15	a	a	DET
fbem-11013	95	16	specific	specific	ADJ
fbem-11013	95	17	context	context	NOUN
fbem-11013	95	18	.	.	PUNCT
fbem-11013	96	1	antoniou	antoniou	PROPN
fbem-11013	96	2	,	,	PUNCT
fbem-11013	96	3	guo	guo	PROPN
fbem-11013	97	1	[	[	X
fbem-11013	97	2	33	33	NUM
fbem-11013	97	3	]	]	PUNCT
fbem-11013	97	4	contribute	contribute	VERB
fbem-11013	97	5	additional	additional	ADJ
fbem-11013	97	6	insights	insight	NOUN
fbem-11013	97	7	into	into	ADP
fbem-11013	97	8	the	the	DET
fbem-11013	97	9	temporal	temporal	ADJ
fbem-11013	97	10	dynamics	dynamic	NOUN
fbem-11013	97	11	of	of	ADP
fbem-11013	97	12	market	market	NOUN
fbem-11013	97	13	mispricing	misprice	VERB
fbem-11013	97	14	.	.	PUNCT
fbem-11013	98	1	their	their	PRON
fbem-11013	98	2	findings	finding	NOUN
fbem-11013	98	3	suggest	suggest	VERB
fbem-11013	98	4	that	that	SCONJ
fbem-11013	98	5	m&a	m&a	PROPN
fbem-11013	98	6	activities	activity	NOUN
fbem-11013	98	7	during	during	ADP
fbem-11013	98	8	periods	period	NOUN
fbem-11013	98	9	of	of	ADP
fbem-11013	98	10	market	market	NOUN
fbem-11013	98	11	overvaluation	overvaluation	NOUN
fbem-11013	98	12	can	can	AUX
fbem-11013	98	13	yield	yield	VERB
fbem-11013	98	14	significant	significant	ADJ
fbem-11013	98	15	shortterm	shortterm	NOUN
fbem-11013	98	16	market	market	NOUN
fbem-11013	98	17	gains	gain	NOUN
fbem-11013	98	18	.	.	PUNCT
fbem-11013	99	1	however	however	ADV
fbem-11013	99	2	,	,	PUNCT
fbem-11013	99	3	as	as	SCONJ
fbem-11013	99	4	time	time	NOUN
fbem-11013	99	5	elapses	elapse	NOUN
fbem-11013	99	6	and	and	CCONJ
fbem-11013	99	7	actual	actual	ADJ
fbem-11013	99	8	performance	performance	NOUN
fbem-11013	99	9	diverges	diverge	VERB
fbem-11013	99	10	from	from	ADP
fbem-11013	99	11	initial	initial	ADJ
fbem-11013	99	12	expectations	expectation	NOUN
fbem-11013	99	13	,	,	PUNCT
fbem-11013	99	14	long	long	ADJ
fbem-11013	99	15	-	-	PUNCT
fbem-11013	99	16	term	term	NOUN
fbem-11013	99	17	market	market	NOUN
fbem-11013	99	18	returns	return	NOUN
fbem-11013	99	19	may	may	AUX
fbem-11013	99	20	reverse	reverse	VERB
fbem-11013	99	21	.	.	PUNCT
fbem-11013	100	1	this	this	PRON
fbem-11013	100	2	underscores	underscore	VERB
fbem-11013	100	3	the	the	DET
fbem-11013	100	4	need	need	NOUN
fbem-11013	100	5	to	to	PART
fbem-11013	100	6	consider	consider	VERB
fbem-11013	100	7	the	the	DET
fbem-11013	100	8	sustainability	sustainability	NOUN
fbem-11013	100	9	of	of	ADP
fbem-11013	100	10	gains	gain	NOUN
fbem-11013	100	11	in	in	ADP
fbem-11013	100	12	light	light	NOUN
fbem-11013	100	13	of	of	ADP
fbem-11013	100	14	evolving	evolve	VERB
fbem-11013	100	15	market	market	NOUN
fbem-11013	100	16	conditions	condition	NOUN
fbem-11013	100	17	.	.	PUNCT
fbem-11013	101	1	likewise	likewise	ADV
fbem-11013	101	2	,	,	PUNCT
fbem-11013	101	3	the	the	DET
fbem-11013	101	4	study	study	NOUN
fbem-11013	101	5	by	by	ADP
fbem-11013	101	6	singh	singh	PROPN
fbem-11013	101	7	and	and	CCONJ
fbem-11013	101	8	das	das	PROPN
fbem-11013	101	9	[	[	PUNCT
fbem-11013	101	10	34	34	NUM
fbem-11013	101	11	]	]	PUNCT
fbem-11013	101	12	underscores	underscore	VERB
fbem-11013	101	13	the	the	DET
fbem-11013	101	14	substantial	substantial	ADJ
fbem-11013	101	15	influence	influence	NOUN
fbem-11013	101	16	of	of	ADP
fbem-11013	101	17	market	market	NOUN
fbem-11013	101	18	valuation	valuation	NOUN
fbem-11013	101	19	on	on	ADP
fbem-11013	101	20	post	post	ADJ
fbem-11013	101	21	-	-	ADJ
fbem-11013	101	22	acquisition	acquisition	ADJ
fbem-11013	101	23	financial	financial	ADJ
fbem-11013	101	24	performance	performance	NOUN
fbem-11013	101	25	within	within	ADP
fbem-11013	101	26	the	the	DET
fbem-11013	101	27	framework	framework	NOUN
fbem-11013	101	28	of	of	ADP
fbem-11013	101	29	indian	indian	ADJ
fbem-11013	101	30	corporate	corporate	ADJ
fbem-11013	101	31	acquisitions	acquisition	NOUN
fbem-11013	101	32	.	.	PUNCT
fbem-11013	102	1	their	their	PRON
fbem-11013	102	2	findings	finding	NOUN
fbem-11013	102	3	underscore	underscore	VERB
fbem-11013	102	4	the	the	DET
fbem-11013	102	5	interconnectedness	interconnectedness	NOUN
fbem-11013	102	6	of	of	ADP
fbem-11013	102	7	market	market	NOUN
fbem-11013	102	8	timing	timing	NOUN
fbem-11013	102	9	,	,	PUNCT
fbem-11013	102	10	valuation	valuation	NOUN
fbem-11013	102	11	,	,	PUNCT
fbem-11013	102	12	and	and	CCONJ
fbem-11013	102	13	financial	financial	ADJ
fbem-11013	102	14	outcomes	outcome	NOUN
fbem-11013	102	15	,	,	PUNCT
fbem-11013	102	16	suggesting	suggest	VERB
fbem-11013	102	17	that	that	SCONJ
fbem-11013	102	18	m&a	m&a	PROPN
fbem-11013	102	19	decisions	decision	NOUN
fbem-11013	102	20	made	make	VERB
fbem-11013	102	21	under	under	ADP
fbem-11013	102	22	specific	specific	ADJ
fbem-11013	102	23	market	market	NOUN
fbem-11013	102	24	conditions	condition	NOUN
fbem-11013	102	25	can	can	AUX
fbem-11013	102	26	yield	yield	VERB
fbem-11013	102	27	enduring	enduring	ADJ
fbem-11013	102	28	consequences	consequence	NOUN
fbem-11013	102	29	.	.	PUNCT
fbem-11013	103	1	collectively	collectively	ADV
fbem-11013	103	2	,	,	PUNCT
fbem-11013	103	3	these	these	DET
fbem-11013	103	4	studies	study	NOUN
fbem-11013	103	5	highlight	highlight	VERB
fbem-11013	103	6	the	the	DET
fbem-11013	103	7	multifaceted	multifaceted	ADJ
fbem-11013	103	8	impact	impact	NOUN
fbem-11013	103	9	of	of	ADP
fbem-11013	103	10	stock	stock	NOUN
fbem-11013	103	11	market	market	NOUN
fbem-11013	103	12	mispricing	misprice	VERB
fbem-11013	103	13	timing	timing	NOUN
fbem-11013	103	14	on	on	ADP
fbem-11013	103	15	m&a	m&a	PROPN
fbem-11013	103	16	performance	performance	NOUN
fbem-11013	103	17	.	.	PUNCT
fbem-11013	104	1	however	however	ADV
fbem-11013	104	2	,	,	PUNCT
fbem-11013	104	3	while	while	SCONJ
fbem-11013	104	4	these	these	DET
fbem-11013	104	5	insights	insight	NOUN
fbem-11013	104	6	provide	provide	VERB
fbem-11013	104	7	valuable	valuable	ADJ
fbem-11013	104	8	contributions	contribution	NOUN
fbem-11013	104	9	,	,	PUNCT
fbem-11013	104	10	they	they	PRON
fbem-11013	104	11	might	might	AUX
fbem-11013	104	12	be	be	AUX
fbem-11013	104	13	context	context	NOUN
fbem-11013	104	14	-	-	PUNCT
fbem-11013	104	15	dependent	dependent	ADJ
fbem-11013	104	16	and	and	CCONJ
fbem-11013	104	17	influenced	influence	VERB
fbem-11013	104	18	by	by	ADP
fbem-11013	104	19	varying	vary	VERB
fbem-11013	104	20	market	market	NOUN
fbem-11013	104	21	conditions	condition	NOUN
fbem-11013	104	22	.	.	PUNCT
fbem-11013	105	1	a	a	DET
fbem-11013	105	2	unified	unified	ADJ
fbem-11013	105	3	conclusion	conclusion	NOUN
fbem-11013	105	4	regarding	regard	VERB
fbem-11013	105	5	whether	whether	SCONJ
fbem-11013	105	6	a	a	DET
fbem-11013	105	7	sustained	sustained	ADJ
fbem-11013	105	8	long	long	ADJ
fbem-11013	105	9	-	-	PUNCT
fbem-11013	105	10	term	term	NOUN
fbem-11013	105	11	impact	impact	NOUN
fbem-11013	105	12	exists	exist	VERB
fbem-11013	105	13	is	be	AUX
fbem-11013	105	14	yet	yet	ADV
fbem-11013	105	15	to	to	PART
fbem-11013	105	16	be	be	AUX
fbem-11013	105	17	reached	reach	VERB
fbem-11013	105	18	.	.	PUNCT
fbem-11013	106	1	drawing	draw	VERB
fbem-11013	106	2	from	from	ADP
fbem-11013	106	3	the	the	DET
fbem-11013	106	4	aforementioned	aforementioned	ADJ
fbem-11013	106	5	arguments	argument	NOUN
fbem-11013	106	6	and	and	CCONJ
fbem-11013	106	7	findings	finding	NOUN
fbem-11013	106	8	,	,	PUNCT
fbem-11013	106	9	this	this	DET
fbem-11013	106	10	study	study	NOUN
fbem-11013	106	11	aims	aim	VERB
fbem-11013	106	12	to	to	PART
fbem-11013	106	13	delve	delve	VERB
fbem-11013	106	14	further	far	ADV
fbem-11013	106	15	into	into	ADP
fbem-11013	106	16	the	the	DET
fbem-11013	106	17	influence	influence	NOUN
fbem-11013	106	18	of	of	ADP
fbem-11013	106	19	mispricing	misprice	VERB
fbem-11013	106	20	timing	timing	NOUN
fbem-11013	106	21	within	within	ADP
fbem-11013	106	22	the	the	DET
fbem-11013	106	23	chinese	chinese	ADJ
fbem-11013	106	24	capital	capital	NOUN
fbem-11013	106	25	market	market	NOUN
fbem-11013	106	26	on	on	ADP
fbem-11013	106	27	m&a	m&a	PROPN
fbem-11013	106	28	performance	performance	NOUN
fbem-11013	106	29	,	,	PUNCT
fbem-11013	106	30	an	an	DET
fbem-11013	106	31	area	area	NOUN
fbem-11013	106	32	in	in	ADP
fbem-11013	106	33	china	china	PROPN
fbem-11013	106	34	that	that	PRON
fbem-11013	106	35	remains	remain	VERB
fbem-11013	106	36	ripe	ripe	ADJ
fbem-11013	106	37	for	for	ADP
fbem-11013	106	38	in	in	ADP
fbem-11013	106	39	-	-	PUNCT
fbem-11013	106	40	depth	depth	NOUN
fbem-11013	106	41	exploration	exploration	NOUN
fbem-11013	106	42	.	.	PUNCT
fbem-11013	107	1	3	3	X
fbem-11013	107	2	.	.	X
fbem-11013	107	3	hypothesis	hypothesis	NOUN
fbem-11013	107	4	development	development	NOUN
fbem-11013	107	5	the	the	DET
fbem-11013	107	6	correlation	correlation	NOUN
fbem-11013	107	7	between	between	ADP
fbem-11013	107	8	market	market	NOUN
fbem-11013	107	9	mispricing	misprice	VERB
fbem-11013	107	10	timing	timing	NOUN
fbem-11013	107	11	and	and	CCONJ
fbem-11013	107	12	post	post	ADJ
fbem-11013	107	13	-	-	ADJ
fbem-11013	107	14	acquisition	acquisition	NOUN
fbem-11013	107	15	performance	performance	NOUN
fbem-11013	107	16	can	can	AUX
fbem-11013	107	17	be	be	AUX
fbem-11013	107	18	elucidated	elucidate	VERB
fbem-11013	107	19	using	use	VERB
fbem-11013	107	20	the	the	DET
fbem-11013	107	21	catering	catering	NOUN
fbem-11013	107	22	theory	theory	NOUN
fbem-11013	107	23	.	.	PUNCT
fbem-11013	108	1	in	in	ADP
fbem-11013	108	2	a	a	DET
fbem-11013	108	3	market	market	NOUN
fbem-11013	108	4	characterized	characterize	VERB
fbem-11013	108	5	by	by	ADP
fbem-11013	108	6	overheating	overheat	VERB
fbem-11013	108	7	and	and	CCONJ
fbem-11013	108	8	overvaluation	overvaluation	NOUN
fbem-11013	108	9	,	,	PUNCT
fbem-11013	108	10	investors	investor	NOUN
fbem-11013	108	11	often	often	ADV
fbem-11013	108	12	harbor	harbor	VERB
fbem-11013	108	13	overly	overly	ADV
fbem-11013	108	14	optimistic	optimistic	ADJ
fbem-11013	108	15	expectations	expectation	NOUN
fbem-11013	108	16	.	.	PUNCT
fbem-11013	109	1	preceding	precede	VERB
fbem-11013	109	2	a	a	DET
fbem-11013	109	3	merger	merger	NOUN
fbem-11013	109	4	announcement	announcement	NOUN
fbem-11013	109	5	,	,	PUNCT
fbem-11013	109	6	especially	especially	ADV
fbem-11013	109	7	in	in	ADP
fbem-11013	109	8	an	an	DET
fbem-11013	109	9	overvalued	overvalue	VERB
fbem-11013	109	10	market	market	NOUN
fbem-11013	109	11	phase	phase	NOUN
fbem-11013	109	12	,	,	PUNCT
fbem-11013	109	13	investors	investor	NOUN
fbem-11013	109	14	tend	tend	VERB
fbem-11013	109	15	to	to	PART
fbem-11013	109	16	perceive	perceive	VERB
fbem-11013	109	17	the	the	DET
fbem-11013	109	18	company	company	NOUN
fbem-11013	109	19	's	's	PART
fbem-11013	109	20	merger	merger	NOUN
fbem-11013	109	21	endeavors	endeavor	NOUN
fbem-11013	109	22	positively	positively	ADV
fbem-11013	109	23	.	.	PUNCT
fbem-11013	110	1	they	they	PRON
fbem-11013	110	2	interpret	interpret	VERB
fbem-11013	110	3	mergers	merger	NOUN
fbem-11013	110	4	as	as	ADP
fbem-11013	110	5	opportunities	opportunity	NOUN
fbem-11013	110	6	for	for	ADP
fbem-11013	110	7	the	the	DET
fbem-11013	110	8	acquiring	acquire	VERB
fbem-11013	110	9	firm	firm	NOUN
fbem-11013	110	10	to	to	PART
fbem-11013	110	11	augment	augment	VERB
fbem-11013	110	12	its	its	PRON
fbem-11013	110	13	market	market	NOUN
fbem-11013	110	14	share	share	NOUN
fbem-11013	110	15	or	or	CCONJ
fbem-11013	110	16	align	align	VERB
fbem-11013	110	17	with	with	ADP
fbem-11013	110	18	the	the	DET
fbem-11013	110	19	strategic	strategic	ADJ
fbem-11013	110	20	goals	goal	NOUN
fbem-11013	110	21	of	of	ADP
fbem-11013	110	22	the	the	DET
fbem-11013	110	23	target	target	NOUN
fbem-11013	110	24	entity	entity	NOUN
fbem-11013	110	25	,	,	PUNCT
fbem-11013	110	26	thereby	thereby	ADV
fbem-11013	110	27	generating	generate	VERB
fbem-11013	110	28	synergies	synergy	NOUN
fbem-11013	110	29	.	.	PUNCT
fbem-11013	111	1	consequently	consequently	ADV
fbem-11013	111	2	,	,	PUNCT
fbem-11013	111	3	investors	investor	NOUN
fbem-11013	111	4	are	be	AUX
fbem-11013	111	5	more	more	ADV
fbem-11013	111	6	inclined	inclined	ADJ
fbem-11013	111	7	to	to	PART
fbem-11013	111	8	invest	invest	VERB
fbem-11013	111	9	in	in	ADP
fbem-11013	111	10	stocks	stock	NOUN
fbem-11013	111	11	of	of	ADP
fbem-11013	111	12	companies	company	NOUN
fbem-11013	111	13	involved	involve	VERB
fbem-11013	111	14	in	in	ADP
fbem-11013	111	15	mergers	merger	NOUN
fbem-11013	111	16	,	,	PUNCT
fbem-11013	111	17	resulting	result	VERB
fbem-11013	111	18	in	in	ADP
fbem-11013	111	19	a	a	DET
fbem-11013	111	20	notable	notable	ADJ
fbem-11013	111	21	surge	surge	NOUN
fbem-11013	111	22	in	in	ADP
fbem-11013	111	23	stock	stock	NOUN
fbem-11013	111	24	prices	price	NOUN
fbem-11013	111	25	before	before	ADP
fbem-11013	111	26	and	and	CCONJ
fbem-11013	111	27	after	after	ADP
fbem-11013	111	28	the	the	DET
fbem-11013	111	29	merger	merger	NOUN
fbem-11013	111	30	disclosure	disclosure	NOUN
fbem-11013	111	31	.	.	PUNCT
fbem-11013	112	1	conversely	conversely	ADV
fbem-11013	112	2	,	,	PUNCT
fbem-11013	112	3	during	during	ADP
fbem-11013	112	4	periods	period	NOUN
fbem-11013	112	5	of	of	ADP
fbem-11013	112	6	market	market	NOUN
fbem-11013	112	7	undervaluation	undervaluation	NOUN
fbem-11013	112	8	,	,	PUNCT
fbem-11013	112	9	investors	investor	NOUN
fbem-11013	112	10	are	be	AUX
fbem-11013	112	11	more	more	ADV
fbem-11013	112	12	prone	prone	ADJ
fbem-11013	112	13	to	to	PART
fbem-11013	112	14	hold	hold	VERB
fbem-11013	112	15	a	a	DET
fbem-11013	112	16	pessimistic	pessimistic	ADJ
fbem-11013	112	17	stance	stance	NOUN
fbem-11013	112	18	toward	toward	ADP
fbem-11013	112	19	merger	merger	NOUN
fbem-11013	112	20	activities	activity	NOUN
fbem-11013	112	21	.	.	PUNCT
fbem-11013	113	1	they	they	PRON
fbem-11013	113	2	might	might	AUX
fbem-11013	113	3	construe	construe	VERB
fbem-11013	113	4	mergers	merger	NOUN
fbem-11013	113	5	as	as	ADP
fbem-11013	113	6	mere	mere	ADJ
fbem-11013	113	7	reallocations	reallocation	NOUN
fbem-11013	113	8	of	of	ADP
fbem-11013	113	9	economic	economic	ADJ
fbem-11013	113	10	interests	interest	NOUN
fbem-11013	113	11	between	between	ADP
fbem-11013	113	12	shareholders	shareholder	NOUN
fbem-11013	113	13	and	and	CCONJ
fbem-11013	113	14	management	management	NOUN
fbem-11013	113	15	,	,	PUNCT
fbem-11013	113	16	without	without	ADP
fbem-11013	113	17	necessarily	necessarily	ADV
fbem-11013	113	18	yielding	yield	VERB
fbem-11013	113	19	a	a	DET
fbem-11013	113	20	net	net	ADJ
fbem-11013	113	21	increase	increase	NOUN
fbem-11013	113	22	in	in	ADP
fbem-11013	113	23	combined	combined	ADJ
fbem-11013	113	24	wealth	wealth	NOUN
fbem-11013	113	25	.	.	PUNCT
fbem-11013	114	1	consequently	consequently	ADV
fbem-11013	114	2	,	,	PUNCT
fbem-11013	114	3	investor	investor	NOUN
fbem-11013	114	4	enthusiasm	enthusiasm	NOUN
fbem-11013	114	5	for	for	ADP
fbem-11013	114	6	purchasing	purchase	VERB
fbem-11013	114	7	stocks	stock	NOUN
fbem-11013	114	8	could	could	AUX
fbem-11013	114	9	wane	wane	VERB
fbem-11013	114	10	,	,	PUNCT
fbem-11013	114	11	leading	lead	VERB
fbem-11013	114	12	to	to	ADP
fbem-11013	114	13	moderated	moderated	ADJ
fbem-11013	114	14	stock	stock	NOUN
fbem-11013	114	15	price	price	NOUN
fbem-11013	114	16	increments	increment	NOUN
fbem-11013	114	17	or	or	CCONJ
fbem-11013	114	18	even	even	ADV
fbem-11013	114	19	unexpected	unexpected	ADJ
fbem-11013	114	20	declines	decline	NOUN
fbem-11013	114	21	around	around	ADP
fbem-11013	114	22	the	the	DET
fbem-11013	114	23	merger	merger	NOUN
fbem-11013	114	24	announcement	announcement	NOUN
fbem-11013	114	25	date	date	NOUN
fbem-11013	114	26	.	.	PUNCT
fbem-11013	115	1	hence	hence	ADV
fbem-11013	115	2	,	,	PUNCT
fbem-11013	115	3	when	when	SCONJ
fbem-11013	115	4	an	an	DET
fbem-11013	115	5	acquiring	acquire	VERB
fbem-11013	115	6	entity	entity	NOUN
fbem-11013	115	7	caters	cater	NOUN
fbem-11013	115	8	to	to	ADP
fbem-11013	115	9	irrational	irrational	ADJ
fbem-11013	115	10	investor	investor	NOUN
fbem-11013	115	11	sentiment	sentiment	NOUN
fbem-11013	115	12	by	by	ADP
fbem-11013	115	13	choosing	choose	VERB
fbem-11013	115	14	to	to	PART
fbem-11013	115	15	announce	announce	VERB
fbem-11013	115	16	a	a	DET
fbem-11013	115	17	merger	merger	NOUN
fbem-11013	115	18	during	during	ADP
fbem-11013	115	19	a	a	DET
fbem-11013	115	20	phase	phase	NOUN
fbem-11013	115	21	of	of	ADP
fbem-11013	115	22	market	market	NOUN
fbem-11013	115	23	overvaluation	overvaluation	NOUN
fbem-11013	115	24	,	,	PUNCT
fbem-11013	115	25	short	short	ADJ
fbem-11013	115	26	-	-	PUNCT
fbem-11013	115	27	term	term	NOUN
fbem-11013	115	28	market	market	NOUN
fbem-11013	115	29	performance	performance	NOUN
fbem-11013	115	30	following	follow	VERB
fbem-11013	115	31	the	the	DET
fbem-11013	115	32	merger	merger	NOUN
fbem-11013	115	33	is	be	AUX
fbem-11013	115	34	likely	likely	ADJ
fbem-11013	115	35	to	to	PART
fbem-11013	115	36	exhibit	exhibit	VERB
fbem-11013	115	37	notable	notable	ADJ
fbem-11013	115	38	enhancement	enhancement	NOUN
fbem-11013	115	39	.	.	PUNCT
fbem-11013	116	1	nonetheless	nonetheless	ADV
fbem-11013	116	2	,	,	PUNCT
fbem-11013	116	3	while	while	SCONJ
fbem-11013	116	4	catering	cater	VERB
fbem-11013	116	5	to	to	ADP
fbem-11013	116	6	such	such	ADJ
fbem-11013	116	7	sentiment	sentiment	NOUN
fbem-11013	116	8	might	might	AUX
fbem-11013	116	9	bolster	bolster	VERB
fbem-11013	116	10	short	short	ADJ
fbem-11013	116	11	-	-	PUNCT
fbem-11013	116	12	term	term	NOUN
fbem-11013	116	13	value	value	NOUN
fbem-11013	116	14	,	,	PUNCT
fbem-11013	116	15	stock	stock	NOUN
fbem-11013	116	16	prices	price	NOUN
fbem-11013	116	17	typically	typically	ADV
fbem-11013	116	18	revert	revert	VERB
fbem-11013	116	19	to	to	ADP
fbem-11013	116	20	their	their	PRON
fbem-11013	116	21	intrinsic	intrinsic	ADJ
fbem-11013	116	22	value	value	NOUN
fbem-11013	116	23	over	over	ADP
fbem-11013	116	24	time	time	NOUN
fbem-11013	116	25	.	.	PUNCT
fbem-11013	117	1	long	long	ADJ
fbem-11013	117	2	-	-	PUNCT
fbem-11013	117	3	term	term	NOUN
fbem-11013	117	4	market	market	NOUN
fbem-11013	117	5	and	and	CCONJ
fbem-11013	117	6	financial	financial	ADJ
fbem-11013	117	7	performance	performance	NOUN
fbem-11013	117	8	are	be	AUX
fbem-11013	117	9	more	more	ADV
fbem-11013	117	10	susceptible	susceptible	ADJ
fbem-11013	117	11	to	to	ADP
fbem-11013	117	12	influences	influence	NOUN
fbem-11013	117	13	such	such	ADJ
fbem-11013	117	14	as	as	ADP
fbem-11013	117	15	post	post	ADJ
fbem-11013	117	16	-	-	ADJ
fbem-11013	117	17	acquisition	acquisition	ADJ
fbem-11013	117	18	integration	integration	NOUN
fbem-11013	117	19	and	and	CCONJ
fbem-11013	117	20	management	management	NOUN
fbem-11013	117	21	competencies	competency	NOUN
fbem-11013	117	22	,	,	PUNCT
fbem-11013	117	23	whereas	whereas	SCONJ
fbem-11013	117	24	market	market	NOUN
fbem-11013	117	25	sentiment	sentiment	NOUN
fbem-11013	117	26	is	be	AUX
fbem-11013	117	27	characterized	characterize	VERB
fbem-11013	117	28	by	by	ADP
fbem-11013	117	29	transient	transient	ADJ
fbem-11013	117	30	fluctuations	fluctuation	NOUN
fbem-11013	117	31	and	and	CCONJ
fbem-11013	117	32	lacks	lack	VERB
fbem-11013	117	33	enduring	endure	VERB
fbem-11013	117	34	,	,	PUNCT
fbem-11013	117	35	stable	stable	ADJ
fbem-11013	117	36	impact	impact	NOUN
fbem-11013	117	37	.	.	PUNCT
fbem-11013	118	1	therefore	therefore	ADV
fbem-11013	118	2	,	,	PUNCT
fbem-11013	118	3	grounded	ground	VERB
fbem-11013	118	4	in	in	ADP
fbem-11013	118	5	the	the	DET
fbem-11013	118	6	catering	catering	NOUN
fbem-11013	118	7	theory	theory	NOUN
fbem-11013	118	8	,	,	PUNCT
fbem-11013	118	9	scholars	scholar	NOUN
fbem-11013	118	10	posit	posit	VERB
fbem-11013	118	11	that	that	SCONJ
fbem-11013	118	12	market	market	NOUN
fbem-11013	118	13	mispricing	misprice	VERB
fbem-11013	118	14	timing	timing	NOUN
fbem-11013	118	15	significantly	significantly	ADV
fbem-11013	118	16	affects	affect	VERB
fbem-11013	118	17	the	the	DET
fbem-11013	118	18	immediate	immediate	ADJ
fbem-11013	118	19	market	market	NOUN
fbem-11013	118	20	performance	performance	NOUN
fbem-11013	118	21	of	of	ADP
fbem-11013	118	22	acquiring	acquire	VERB
fbem-11013	118	23	firms	firm	NOUN
fbem-11013	118	24	,	,	PUNCT
fbem-11013	118	25	whereas	whereas	SCONJ
fbem-11013	118	26	its	its	PRON
fbem-11013	118	27	sway	sway	NOUN
fbem-11013	118	28	over	over	ADP
fbem-11013	118	29	long	long	ADJ
fbem-11013	118	30	-	-	PUNCT
fbem-11013	118	31	term	term	NOUN
fbem-11013	118	32	performance	performance	NOUN
fbem-11013	118	33	remains	remain	VERB
fbem-11013	118	34	limited	limited	ADJ
fbem-11013	118	35	.	.	PUNCT
fbem-11013	119	1	h1	h1	PROPN
fbem-11013	119	2	:	:	PUNCT
fbem-11013	119	3	market	market	NOUN
fbem-11013	119	4	mispricing	misprice	VERB
fbem-11013	119	5	timing	timing	NOUN
fbem-11013	119	6	exerts	exert	VERB
fbem-11013	119	7	a	a	DET
fbem-11013	119	8	considerable	considerable	ADJ
fbem-11013	119	9	influence	influence	NOUN
fbem-11013	119	10	on	on	ADP
fbem-11013	119	11	the	the	DET
fbem-11013	119	12	acquiring	acquire	VERB
fbem-11013	119	13	company	company	NOUN
fbem-11013	119	14	's	's	PART
fbem-11013	119	15	post	post	ADJ
fbem-11013	119	16	-	-	ADJ
fbem-11013	119	17	acquisition	acquisition	NOUN
fbem-11013	119	18	performance	performance	NOUN
fbem-11013	119	19	.	.	PUNCT
fbem-11013	120	1	h2	h2	NOUN
fbem-11013	120	2	:	:	PUNCT
fbem-11013	120	3	the	the	DET
fbem-11013	120	4	short	short	ADJ
fbem-11013	120	5	-	-	PUNCT
fbem-11013	120	6	term	term	NOUN
fbem-11013	120	7	market	market	NOUN
fbem-11013	120	8	performance	performance	NOUN
fbem-11013	120	9	of	of	ADP
fbem-11013	120	10	acquirers	acquirer	NOUN
fbem-11013	120	11	engaging	engage	VERB
fbem-11013	120	12	in	in	ADP
fbem-11013	120	13	mergers	merger	NOUN
fbem-11013	120	14	during	during	ADP
fbem-11013	120	15	periods	period	NOUN
fbem-11013	120	16	of	of	ADP
fbem-11013	120	17	market	market	NOUN
fbem-11013	120	18	overvaluation	overvaluation	NOUN
fbem-11013	120	19	displays	display	VERB
fbem-11013	120	20	a	a	DET
fbem-11013	120	21	distinct	distinct	ADJ
fbem-11013	120	22	positive	positive	ADJ
fbem-11013	120	23	trend	trend	NOUN
fbem-11013	120	24	.	.	PUNCT
fbem-11013	121	1	h3	h3	NOUN
fbem-11013	121	2	:	:	PUNCT
fbem-11013	121	3	market	market	NOUN
fbem-11013	121	4	mispricing	misprice	VERB
fbem-11013	121	5	timing	timing	NOUN
fbem-11013	121	6	does	do	AUX
fbem-11013	121	7	not	not	PART
fbem-11013	121	8	significantly	significantly	ADV
fbem-11013	121	9	affect	affect	VERB
fbem-11013	121	10	long	long	ADJ
fbem-11013	121	11	-	-	PUNCT
fbem-11013	121	12	term	term	NOUN
fbem-11013	121	13	market	market	NOUN
fbem-11013	121	14	performance	performance	NOUN
fbem-11013	121	15	and	and	CCONJ
fbem-11013	121	16	financial	financial	ADJ
fbem-11013	121	17	outcomes	outcome	NOUN
fbem-11013	121	18	.	.	PUNCT
fbem-11013	122	1	4	4	X
fbem-11013	122	2	.	.	X
fbem-11013	122	3	data	datum	NOUN
fbem-11013	122	4	and	and	CCONJ
fbem-11013	122	5	methodology	methodology	NOUN
fbem-11013	122	6	4.1	4.1	NUM
fbem-11013	122	7	.	.	PUNCT
fbem-11013	123	1	sample	sample	NOUN
fbem-11013	123	2	selection	selection	NOUN
fbem-11013	123	3	the	the	DET
fbem-11013	123	4	initial	initial	ADJ
fbem-11013	123	5	research	research	NOUN
fbem-11013	123	6	sample	sample	NOUN
fbem-11013	123	7	for	for	ADP
fbem-11013	123	8	this	this	DET
fbem-11013	123	9	study	study	NOUN
fbem-11013	123	10	is	be	AUX
fbem-11013	123	11	comprises	comprise	NOUN
fbem-11013	123	12	ashare	ashare	VERB
fbem-11013	123	13	listed	list	VERB
fbem-11013	123	14	companies	company	NOUN
fbem-11013	123	15	conducted	conduct	VERB
fbem-11013	123	16	mergers	merger	NOUN
fbem-11013	123	17	and	and	CCONJ
fbem-11013	123	18	acquisitions	acquisition	NOUN
fbem-11013	123	19	on	on	ADP
fbem-11013	123	20	the	the	DET
fbem-11013	123	21	shanghai	shanghai	PROPN
fbem-11013	123	22	and	and	CCONJ
fbem-11013	123	23	shenzhen	shenzhen	PROPN
fbem-11013	123	24	stock	stock	PROPN
fbem-11013	123	25	exchanges	exchange	NOUN
fbem-11013	123	26	in	in	ADP
fbem-11013	123	27	china	china	PROPN
fbem-11013	123	28	between	between	ADP
fbem-11013	123	29	january	january	PROPN
fbem-11013	123	30	1st	1st	NOUN
fbem-11013	123	31	,	,	PUNCT
fbem-11013	123	32	2007	2007	NUM
fbem-11013	123	33	to	to	ADP
fbem-11013	123	34	december	december	PROPN
fbem-11013	123	35	31st	31st	NOUN
fbem-11013	123	36	,	,	PUNCT
fbem-11013	123	37	2021	2021	NUM
fbem-11013	123	38	.	.	PUNCT
fbem-11013	124	1	keeping	keep	VERB
fbem-11013	124	2	in	in	ADP
fbem-11013	124	3	mind	mind	NOUN
fbem-11013	124	4	the	the	DET
fbem-11013	124	5	patterns	pattern	NOUN
fbem-11013	124	6	of	of	ADP
fbem-11013	124	7	available	available	ADJ
fbem-11013	124	8	literature	literature	NOUN
fbem-11013	124	9	[	[	X
fbem-11013	124	10	35	35	NUM
fbem-11013	124	11	-	-	SYM
fbem-11013	124	12	38	38	NUM
fbem-11013	124	13	]	]	PUNCT
fbem-11013	124	14	,	,	PUNCT
fbem-11013	124	15	the	the	DET
fbem-11013	124	16	present	present	ADJ
fbem-11013	124	17	study	study	NOUN
fbem-11013	124	18	employed	employ	VERB
fbem-11013	124	19	the	the	DET
fbem-11013	124	20	same	same	ADJ
fbem-11013	124	21	criteria	criterion	NOUN
fbem-11013	124	22	for	for	ADP
fbem-11013	124	23	sample	sample	NOUN
fbem-11013	124	24	selection	selection	NOUN
fbem-11013	124	25	.	.	PUNCT
fbem-11013	125	1	the	the	DET
fbem-11013	125	2	sampling	sample	VERB
fbem-11013	125	3	process	process	NOUN
fbem-11013	125	4	for	for	ADP
fbem-11013	125	5	the	the	DET
fbem-11013	125	6	data	data	NOUN
fbem-11013	125	7	sample	sample	NOUN
fbem-11013	125	8	is	be	AUX
fbem-11013	125	9	as	as	SCONJ
fbem-11013	125	10	follows	follow	VERB
fbem-11013	125	11	:	:	PUNCT
fbem-11013	125	12	i.	i.	NOUN
fbem-11013	125	13	the	the	DET
fbem-11013	125	14	firm	firm	NOUN
fbem-11013	125	15	is	be	AUX
fbem-11013	125	16	included	include	VERB
fbem-11013	125	17	in	in	ADP
fbem-11013	125	18	the	the	DET
fbem-11013	125	19	csmar	csmar	PROPN
fbem-11013	125	20	database	database	NOUN
fbem-11013	125	21	and	and	CCONJ
fbem-11013	125	22	the	the	DET
fbem-11013	125	23	accounting	accounting	NOUN
fbem-11013	125	24	data	datum	NOUN
fbem-11013	125	25	required	require	VERB
fbem-11013	125	26	for	for	ADP
fbem-11013	125	27	the	the	DET
fbem-11013	125	28	study	study	NOUN
fbem-11013	125	29	variables	variable	NOUN
fbem-11013	125	30	are	be	AUX
fbem-11013	125	31	reported	report	VERB
fbem-11013	125	32	in	in	ADP
fbem-11013	125	33	csmar	csmar	PROPN
fbem-11013	125	34	.	.	PUNCT
fbem-11013	126	1	ii	ii	PROPN
fbem-11013	126	2	.	.	PUNCT
fbem-11013	127	1	excluding	exclude	VERB
fbem-11013	127	2	all	all	DET
fbem-11013	127	3	special	special	ADJ
fbem-11013	127	4	treatment	treatment	NOUN
fbem-11013	127	5	(	(	PUNCT
fbem-11013	127	6	st	st	NOUN
fbem-11013	127	7	)	)	PUNCT
fbem-11013	127	8	firms	firm	NOUN
fbem-11013	127	9	as	as	SCONJ
fbem-11013	127	10	they	they	PRON
fbem-11013	127	11	exhibit	exhibit	VERB
fbem-11013	127	12	characteristics	characteristic	NOUN
fbem-11013	127	13	during	during	ADP
fbem-11013	127	14	the	the	DET
fbem-11013	127	15	m&a	m&a	PROPN
fbem-11013	127	16	process	process	NOUN
fbem-11013	127	17	that	that	PRON
fbem-11013	127	18	differ	differ	VERB
fbem-11013	127	19	from	from	ADP
fbem-11013	127	20	those	those	PRON
fbem-11013	127	21	of	of	ADP
fbem-11013	127	22	ordinary	ordinary	ADJ
fbem-11013	127	23	listed	list	VERB
fbem-11013	127	24	companies	company	NOUN
fbem-11013	127	25	.	.	PUNCT
fbem-11013	128	1	iii	iii	X
fbem-11013	128	2	.	.	PUNCT
fbem-11013	129	1	excluding	exclude	VERB
fbem-11013	129	2	all	all	DET
fbem-11013	129	3	financial	financial	ADJ
fbem-11013	129	4	industry	industry	NOUN
fbem-11013	129	5	firms	firm	NOUN
fbem-11013	129	6	.	.	PUNCT
fbem-11013	130	1	this	this	PRON
fbem-11013	130	2	is	be	AUX
fbem-11013	130	3	due	due	ADJ
fbem-11013	130	4	to	to	ADP
fbem-11013	130	5	the	the	DET
fbem-11013	130	6	unique	unique	ADJ
fbem-11013	130	7	nature	nature	NOUN
fbem-11013	130	8	of	of	ADP
fbem-11013	130	9	their	their	PRON
fbem-11013	130	10	business	business	NOUN
fbem-11013	130	11	operations	operation	NOUN
fbem-11013	130	12	and	and	CCONJ
fbem-11013	130	13	regulatory	regulatory	ADJ
fbem-11013	130	14	framework	framework	NOUN
fbem-11013	130	15	,	,	PUNCT
fbem-11013	130	16	which	which	PRON
fbem-11013	130	17	greatly	greatly	ADV
fbem-11013	130	18	limits	limit	VERB
fbem-11013	130	19	the	the	DET
fbem-11013	130	20	comparability	comparability	NOUN
fbem-11013	130	21	of	of	ADP
fbem-11013	130	22	their	their	PRON
fbem-11013	130	23	data	datum	NOUN
fbem-11013	130	24	when	when	SCONJ
fbem-11013	130	25	compared	compare	VERB
fbem-11013	130	26	to	to	ADP
fbem-11013	130	27	firms	firm	NOUN
fbem-11013	130	28	in	in	ADP
fbem-11013	130	29	other	other	ADJ
fbem-11013	130	30	industries	industry	NOUN
fbem-11013	130	31	.	.	PUNCT
fbem-11013	131	1	iv	iv	X
fbem-11013	131	2	.	.	PUNCT
fbem-11013	132	1	excluding	exclude	VERB
fbem-11013	132	2	the	the	DET
fbem-11013	132	3	firm	firm	NOUN
fbem-11013	132	4	whose	whose	DET
fbem-11013	132	5	trading	trading	NOUN
fbem-11013	132	6	status	status	NOUN
fbem-11013	132	7	is	be	AUX
fbem-11013	132	8	not	not	PART
fbem-11013	132	9	"	"	PUNCT
fbem-11013	132	10	buyer	buyer	NOUN
fbem-11013	132	11	"	"	PUNCT
fbem-11013	132	12	because	because	SCONJ
fbem-11013	132	13	the	the	DET
fbem-11013	132	14	research	research	NOUN
fbem-11013	132	15	object	object	NOUN
fbem-11013	132	16	of	of	ADP
fbem-11013	132	17	this	this	DET
fbem-11013	132	18	study	study	NOUN
fbem-11013	132	19	is	be	AUX
fbem-11013	132	20	on	on	ADP
fbem-11013	132	21	the	the	DET
fbem-11013	132	22	acquiring	acquire	VERB
fbem-11013	132	23	companies	company	NOUN
fbem-11013	132	24	and	and	CCONJ
fbem-11013	132	25	not	not	PART
fbem-11013	132	26	the	the	DET
fbem-11013	132	27	acquired	acquire	VERB
fbem-11013	132	28	ones	one	NOUN
fbem-11013	132	29	.	.	PUNCT
fbem-11013	133	1	v.	v.	CCONJ
fbem-11013	133	2	excluding	exclude	VERB
fbem-11013	133	3	all	all	DET
fbem-11013	133	4	firms	firm	NOUN
fbem-11013	133	5	with	with	ADP
fbem-11013	133	6	failed	fail	VERB
fbem-11013	133	7	m&a	m&a	PROPN
fbem-11013	133	8	transactions	transaction	NOUN
fbem-11013	133	9	and	and	CCONJ
fbem-11013	133	10	those	those	PRON
fbem-11013	133	11	where	where	SCONJ
fbem-11013	133	12	it	it	PRON
fbem-11013	133	13	was	be	AUX
fbem-11013	133	14	not	not	PART
fbem-11013	133	15	clear	clear	ADJ
fbem-11013	133	16	whether	whether	SCONJ
fbem-11013	133	17	the	the	DET
fbem-11013	133	18	transaction	transaction	NOUN
fbem-11013	133	19	was	be	AUX
fbem-11013	133	20	252	252	NUM
fbem-11013	133	21	successful	successful	ADJ
fbem-11013	133	22	.	.	PUNCT
fbem-11013	134	1	vi	vi	X
fbem-11013	134	2	.	.	NOUN
fbem-11013	134	3	excluding	exclude	VERB
fbem-11013	134	4	m&a	m&a	PROPN
fbem-11013	134	5	events	event	NOUN
fbem-11013	134	6	involving	involve	VERB
fbem-11013	134	7	asset	asset	NOUN
fbem-11013	134	8	stripping	stripping	NOUN
fbem-11013	134	9	,	,	PUNCT
fbem-11013	134	10	asset	asset	NOUN
fbem-11013	134	11	swapping	swapping	NOUN
fbem-11013	134	12	,	,	PUNCT
fbem-11013	134	13	debt	debt	NOUN
fbem-11013	134	14	restructuring	restructuring	NOUN
fbem-11013	134	15	,	,	PUNCT
fbem-11013	134	16	and	and	CCONJ
fbem-11013	134	17	share	share	NOUN
fbem-11013	134	18	repurchases	repurchase	NOUN
fbem-11013	134	19	.	.	PUNCT
fbem-11013	135	1	vii	vii	PROPN
fbem-11013	135	2	.	.	PROPN
fbem-11013	135	3	excluding	exclude	VERB
fbem-11013	135	4	m&a	m&a	PROPN
fbem-11013	135	5	events	event	NOUN
fbem-11013	135	6	with	with	ADP
fbem-11013	135	7	a	a	DET
fbem-11013	135	8	value	value	NOUN
fbem-11013	135	9	less	less	ADJ
fbem-11013	135	10	than	than	ADP
fbem-11013	135	11	1	1	NUM
fbem-11013	135	12	million	million	NUM
fbem-11013	135	13	rmb	rmb	NOUN
fbem-11013	135	14	.	.	PUNCT
fbem-11013	136	1	the	the	DET
fbem-11013	136	2	purpose	purpose	NOUN
fbem-11013	136	3	of	of	ADP
fbem-11013	136	4	doing	do	VERB
fbem-11013	136	5	so	so	ADV
fbem-11013	136	6	is	be	AUX
fbem-11013	136	7	to	to	PART
fbem-11013	136	8	ensure	ensure	VERB
fbem-11013	136	9	that	that	SCONJ
fbem-11013	136	10	the	the	DET
fbem-11013	136	11	selected	select	VERB
fbem-11013	136	12	m&a	m&a	PROPN
fbem-11013	136	13	events	event	NOUN
fbem-11013	136	14	significantly	significantly	ADV
fbem-11013	136	15	impact	impact	VERB
fbem-11013	136	16	the	the	DET
fbem-11013	136	17	production	production	NOUN
fbem-11013	136	18	and	and	CCONJ
fbem-11013	136	19	operation	operation	NOUN
fbem-11013	136	20	of	of	ADP
fbem-11013	136	21	enterprises	enterprise	NOUN
fbem-11013	136	22	.	.	PUNCT
fbem-11013	137	1	viii	viii	PROPN
fbem-11013	137	2	.	.	PUNCT
fbem-11013	138	1	for	for	ADP
fbem-11013	138	2	firms	firm	NOUN
fbem-11013	138	3	that	that	PRON
fbem-11013	138	4	have	have	AUX
fbem-11013	138	5	undergone	undergo	VERB
fbem-11013	138	6	multiple	multiple	ADJ
fbem-11013	138	7	merger	merger	NOUN
fbem-11013	138	8	and	and	CCONJ
fbem-11013	138	9	acquisition	acquisition	NOUN
fbem-11013	138	10	transactions	transaction	NOUN
fbem-11013	138	11	in	in	ADP
fbem-11013	138	12	the	the	DET
fbem-11013	138	13	same	same	ADJ
fbem-11013	138	14	quarter	quarter	NOUN
fbem-11013	138	15	,	,	PUNCT
fbem-11013	138	16	only	only	ADV
fbem-11013	138	17	the	the	DET
fbem-11013	138	18	first	first	ADJ
fbem-11013	138	19	merger	merger	NOUN
fbem-11013	138	20	and	and	CCONJ
fbem-11013	138	21	acquisition	acquisition	NOUN
fbem-11013	138	22	is	be	AUX
fbem-11013	138	23	included	include	VERB
fbem-11013	138	24	in	in	ADP
fbem-11013	138	25	the	the	DET
fbem-11013	138	26	sample	sample	NOUN
fbem-11013	138	27	.	.	PUNCT
fbem-11013	139	1	ix	ix	INTJ
fbem-11013	139	2	.	.	PUNCT
fbem-11013	140	1	the	the	DET
fbem-11013	140	2	deal	deal	NOUN
fbem-11013	140	3	payment	payment	NOUN
fbem-11013	140	4	is	be	AUX
fbem-11013	140	5	settled	settle	VERB
fbem-11013	140	6	in	in	ADP
fbem-11013	140	7	either	either	CCONJ
fbem-11013	140	8	cash	cash	NOUN
fbem-11013	140	9	or	or	CCONJ
fbem-11013	140	10	stock	stock	NOUN
fbem-11013	140	11	.	.	PUNCT
fbem-11013	141	1	x.	x.	NOUN
fbem-11013	141	2	excluding	exclude	VERB
fbem-11013	141	3	sample	sample	NOUN
fbem-11013	141	4	firms	firm	NOUN
fbem-11013	141	5	with	with	ADP
fbem-11013	141	6	missing	miss	VERB
fbem-11013	141	7	data	datum	NOUN
fbem-11013	141	8	.	.	PUNCT
fbem-11013	142	1	after	after	ADP
fbem-11013	142	2	filtering	filter	VERB
fbem-11013	142	3	according	accord	VERB
fbem-11013	142	4	to	to	ADP
fbem-11013	142	5	the	the	DET
fbem-11013	142	6	above	above	ADJ
fbem-11013	142	7	criteria	criterion	NOUN
fbem-11013	142	8	,	,	PUNCT
fbem-11013	142	9	the	the	DET
fbem-11013	142	10	final	final	ADJ
fbem-11013	142	11	sample	sample	NOUN
fbem-11013	142	12	contains	contain	VERB
fbem-11013	142	13	8010	8010	NUM
fbem-11013	142	14	firm	firm	ADJ
fbem-11013	142	15	-	-	PUNCT
fbem-11013	142	16	year	year	NOUN
fbem-11013	142	17	observations	observation	NOUN
fbem-11013	142	18	.	.	PUNCT
fbem-11013	143	1	4.2	4.2	NUM
fbem-11013	143	2	.	.	PUNCT
fbem-11013	144	1	variable	variable	ADJ
fbem-11013	144	2	measurement	measurement	NOUN
fbem-11013	144	3	4.2.1	4.2.1	NOUN
fbem-11013	144	4	.	.	PUNCT
fbem-11013	145	1	post	post	ADJ
fbem-11013	145	2	-	-	ADJ
fbem-11013	145	3	acquisition	acquisition	NOUN
fbem-11013	145	4	performance	performance	NOUN
fbem-11013	145	5	the	the	DET
fbem-11013	145	6	following	follow	VERB
fbem-11013	145	7	sections	section	NOUN
fbem-11013	145	8	introduce	introduce	VERB
fbem-11013	145	9	specific	specific	ADJ
fbem-11013	145	10	measurement	measurement	NOUN
fbem-11013	145	11	indicators	indicator	NOUN
fbem-11013	145	12	used	use	VERB
fbem-11013	145	13	to	to	PART
fbem-11013	145	14	evaluate	evaluate	VERB
fbem-11013	145	15	market	market	NOUN
fbem-11013	145	16	and	and	CCONJ
fbem-11013	145	17	financial	financial	ADJ
fbem-11013	145	18	performance	performance	NOUN
fbem-11013	145	19	.	.	PUNCT
fbem-11013	146	1	4.2.1.1	4.2.1.1	NUM
fbem-11013	146	2	short	short	ADJ
fbem-11013	146	3	-	-	PUNCT
fbem-11013	146	4	term	term	NOUN
fbem-11013	146	5	stock	stock	NOUN
fbem-11013	146	6	market	market	NOUN
fbem-11013	146	7	performance	performance	NOUN
fbem-11013	146	8	the	the	DET
fbem-11013	146	9	event	event	NOUN
fbem-11013	146	10	study	study	NOUN
fbem-11013	146	11	is	be	AUX
fbem-11013	146	12	used	use	VERB
fbem-11013	146	13	to	to	PART
fbem-11013	146	14	analyse	analyse	VERB
fbem-11013	146	15	short	short	ADJ
fbem-11013	146	16	-	-	PUNCT
fbem-11013	146	17	term	term	NOUN
fbem-11013	146	18	stock	stock	NOUN
fbem-11013	146	19	market	market	NOUN
fbem-11013	146	20	performance	performance	NOUN
fbem-11013	146	21	and	and	CCONJ
fbem-11013	146	22	the	the	DET
fbem-11013	146	23	car	car	NOUN
fbem-11013	146	24	is	be	AUX
fbem-11013	146	25	used	use	VERB
fbem-11013	146	26	as	as	ADP
fbem-11013	146	27	a	a	DET
fbem-11013	146	28	measure	measure	NOUN
fbem-11013	146	29	of	of	ADP
fbem-11013	146	30	short	short	ADJ
fbem-11013	146	31	-	-	PUNCT
fbem-11013	146	32	term	term	NOUN
fbem-11013	146	33	stock	stock	NOUN
fbem-11013	146	34	market	market	NOUN
fbem-11013	146	35	performance	performance	NOUN
fbem-11013	146	36	in	in	ADP
fbem-11013	146	37	this	this	DET
fbem-11013	146	38	study	study	NOUN
fbem-11013	146	39	.	.	PUNCT
fbem-11013	147	1	this	this	DET
fbem-11013	147	2	study	study	NOUN
fbem-11013	147	3	calculates	calculate	VERB
fbem-11013	147	4	the	the	DET
fbem-11013	147	5	car	car	NOUN
fbem-11013	147	6	of	of	ADP
fbem-11013	147	7	sample	sample	NOUN
fbem-11013	147	8	firms	firm	NOUN
fbem-11013	147	9	during	during	ADP
fbem-11013	147	10	the	the	DET
fbem-11013	147	11	(	(	PUNCT
fbem-11013	147	12	-2	-2	INTJ
fbem-11013	147	13	,	,	PUNCT
fbem-11013	147	14	+2	+2	PROPN
fbem-11013	147	15	)	)	PUNCT
fbem-11013	147	16	and	and	CCONJ
fbem-11013	147	17	(	(	PUNCT
fbem-11013	147	18	-5	-5	INTJ
fbem-11013	147	19	,	,	PUNCT
fbem-11013	147	20	+5	+5	ADJ
fbem-11013	147	21	)	)	PUNCT
fbem-11013	147	22	window	window	NOUN
fbem-11013	147	23	periods	period	NOUN
fbem-11013	147	24	,	,	PUNCT
fbem-11013	147	25	consistent	consistent	ADJ
fbem-11013	147	26	with	with	ADP
fbem-11013	147	27	prior	prior	ADJ
fbem-11013	147	28	studies	study	NOUN
fbem-11013	147	29	such	such	ADJ
fbem-11013	147	30	as	as	ADP
fbem-11013	147	31	[	[	X
fbem-11013	147	32	39	39	NUM
fbem-11013	147	33	]	]	PUNCT
fbem-11013	147	34	.	.	PUNCT
fbem-11013	148	1	this	this	DET
fbem-11013	148	2	study	study	NOUN
fbem-11013	148	3	opted	opt	VERB
fbem-11013	148	4	for	for	ADP
fbem-11013	148	5	a	a	DET
fbem-11013	148	6	120	120	NUM
fbem-11013	148	7	-	-	PUNCT
fbem-11013	148	8	day	day	NOUN
fbem-11013	148	9	estimation	estimation	NOUN
fbem-11013	148	10	period	period	NOUN
fbem-11013	148	11	and	and	CCONJ
fbem-11013	148	12	the	the	DET
fbem-11013	148	13	estimation	estimation	NOUN
fbem-11013	148	14	window	window	NOUN
fbem-11013	148	15	period	period	NOUN
fbem-11013	148	16	is	be	AUX
fbem-11013	148	17	set	set	VERB
fbem-11013	148	18	from	from	ADP
fbem-11013	148	19	150	150	NUM
fbem-11013	148	20	days	day	NOUN
fbem-11013	148	21	prior	prior	ADV
fbem-11013	148	22	to	to	ADP
fbem-11013	148	23	the	the	DET
fbem-11013	148	24	announcement	announcement	NOUN
fbem-11013	148	25	of	of	ADP
fbem-11013	148	26	the	the	DET
fbem-11013	148	27	self	self	NOUN
fbem-11013	148	28	-	-	PUNCT
fbem-11013	148	29	acquisition	acquisition	NOUN
fbem-11013	148	30	event	event	NOUN
fbem-11013	148	31	to	to	ADP
fbem-11013	148	32	31	31	NUM
fbem-11013	148	33	days	day	NOUN
fbem-11013	148	34	prior	prior	ADV
fbem-11013	148	35	to	to	ADP
fbem-11013	148	36	the	the	DET
fbem-11013	148	37	announcement	announcement	NOUN
fbem-11013	148	38	date	date	NOUN
fbem-11013	148	39	.	.	PUNCT
fbem-11013	149	1	to	to	PART
fbem-11013	149	2	calculate	calculate	VERB
fbem-11013	149	3	the	the	DET
fbem-11013	149	4	normal	normal	ADJ
fbem-11013	149	5	return	return	NOUN
fbem-11013	149	6	for	for	ADP
fbem-11013	149	7	the	the	DET
fbem-11013	149	8	sample	sample	NOUN
fbem-11013	149	9	firms	firm	NOUN
fbem-11013	149	10	involved	involve	VERB
fbem-11013	149	11	in	in	ADP
fbem-11013	149	12	m&as	m&as	PROPN
fbem-11013	149	13	,	,	PUNCT
fbem-11013	149	14	standard	standard	ADJ
fbem-11013	149	15	market	market	NOUN
fbem-11013	149	16	model	model	NOUN
fbem-11013	149	17	suggested	suggest	VERB
fbem-11013	149	18	by	by	ADP
fbem-11013	149	19	fama	fama	PROPN
fbem-11013	150	1	[	[	X
fbem-11013	150	2	40	40	NUM
fbem-11013	150	3	]	]	PUNCT
fbem-11013	150	4	has	have	AUX
fbem-11013	150	5	been	be	AUX
fbem-11013	150	6	used	use	VERB
fbem-11013	150	7	in	in	ADP
fbem-11013	150	8	this	this	DET
fbem-11013	150	9	study	study	NOUN
fbem-11013	150	10	,	,	PUNCT
fbem-11013	150	11	consistent	consistent	ADJ
fbem-11013	150	12	with	with	ADP
fbem-11013	150	13	prior	prior	ADJ
fbem-11013	150	14	studies	study	NOUN
fbem-11013	150	15	such	such	ADJ
fbem-11013	150	16	as	as	ADP
fbem-11013	150	17	goel	goel	PROPN
fbem-11013	150	18	and	and	CCONJ
fbem-11013	150	19	shawky	shawky	VERB
fbem-11013	151	1	[	[	X
fbem-11013	151	2	41	41	NUM
fbem-11013	151	3	]	]	PUNCT
fbem-11013	151	4	,	,	PUNCT
fbem-11013	151	5	wan	wan	PROPN
fbem-11013	152	1	[	[	X
fbem-11013	152	2	42	42	NUM
fbem-11013	152	3	]	]	PUNCT
fbem-11013	152	4	.	.	PUNCT
fbem-11013	153	1	in	in	ADP
fbem-11013	153	2	order	order	NOUN
fbem-11013	153	3	to	to	PART
fbem-11013	153	4	estimate	estimate	VERB
fbem-11013	153	5	the	the	DET
fbem-11013	153	6	regression	regression	NOUN
fbem-11013	153	7	parameters	parameter	NOUN
fbem-11013	153	8	,	,	PUNCT
fbem-11013	153	9	this	this	DET
fbem-11013	153	10	research	research	NOUN
fbem-11013	153	11	utilizes	utilize	VERB
fbem-11013	153	12	the	the	DET
fbem-11013	153	13	widely	widely	ADV
fbem-11013	153	14	used	use	VERB
fbem-11013	153	15	ordinary	ordinary	ADJ
fbem-11013	153	16	least	least	ADJ
fbem-11013	153	17	squares	square	NOUN
fbem-11013	153	18	(	(	PUNCT
fbem-11013	153	19	ols	ol	NOUN
fbem-11013	153	20	)	)	PUNCT
fbem-11013	153	21	method	method	NOUN
fbem-11013	153	22	.	.	PUNCT
fbem-11013	154	1	the	the	DET
fbem-11013	154	2	study	study	NOUN
fbem-11013	154	3	used	use	VERB
fbem-11013	154	4	the	the	DET
fbem-11013	154	5	following	following	ADJ
fbem-11013	154	6	standard	standard	ADJ
fbem-11013	154	7	market	market	NOUN
fbem-11013	154	8	model	model	NOUN
fbem-11013	154	9	equation	equation	NOUN
fbem-11013	154	10	to	to	PART
fbem-11013	154	11	calculate	calculate	VERB
fbem-11013	154	12	the	the	DET
fbem-11013	154	13	normal	normal	ADJ
fbem-11013	154	14	return	return	NOUN
fbem-11013	154	15	of	of	ADP
fbem-11013	154	16	the	the	DET
fbem-11013	154	17	sample	sample	NOUN
fbem-11013	154	18	firms	firm	NOUN
fbem-11013	154	19	’	’	PART
fbem-11013	154	20	stock	stock	NOUN
fbem-11013	154	21	:	:	PUNCT
fbem-11013	154	22	to	to	PART
fbem-11013	154	23	examine	examine	VERB
fbem-11013	154	24	the	the	DET
fbem-11013	154	25	effect	effect	NOUN
fbem-11013	154	26	of	of	ADP
fbem-11013	154	27	the	the	DET
fbem-11013	154	28	event	event	NOUN
fbem-11013	154	29	on	on	ADP
fbem-11013	154	30	each	each	DET
fbem-11013	154	31	stock	stock	NOUN
fbem-11013	154	32	,	,	PUNCT
fbem-11013	154	33	i	i	PRON
fbem-11013	154	34	,	,	PUNCT
fbem-11013	154	35	control	control	NOUN
fbem-11013	154	36	is	be	AUX
fbem-11013	154	37	made	make	VERB
fbem-11013	154	38	for	for	ADP
fbem-11013	154	39	the	the	DET
fbem-11013	154	40	normal	normal	ADJ
fbem-11013	154	41	relation	relation	NOUN
fbem-11013	154	42	between	between	ADP
fbem-11013	154	43	the	the	DET
fbem-11013	154	44	return	return	NOUN
fbem-11013	154	45	on	on	ADP
fbem-11013	154	46	stock	stock	NOUN
fbem-11013	154	47	i	i	PRON
fbem-11013	154	48	during	during	ADP
fbem-11013	154	49	month	month	NOUN
fbem-11013	154	50	t	t	PROPN
fbem-11013	154	51	,	,	PUNCT
fbem-11013	154	52	and	and	CCONJ
fbem-11013	154	53	the	the	DET
fbem-11013	154	54	return	return	NOUN
fbem-11013	154	55	on	on	ADP
fbem-11013	154	56	the	the	DET
fbem-11013	154	57	market	market	NOUN
fbem-11013	154	58	index	index	NOUN
fbem-11013	154	59	rm	rm	NOUN
fbem-11013	154	60	.	.	PUNCT
fbem-11013	155	1	𝑅	𝑅	PROPN
fbem-11013	155	2	𝛼	𝛼	PROPN
fbem-11013	155	3	𝛽	𝛽	PROPN
fbem-11013	155	4	𝑅	𝑅	PROPN
fbem-11013	155	5	𝜀	𝜀	PROPN
fbem-11013	155	6	(	(	PUNCT
fbem-11013	155	7	1	1	NUM
fbem-11013	155	8	)	)	PUNCT
fbem-11013	155	9	where	where	SCONJ
fbem-11013	155	10	t	t	PROPN
fbem-11013	155	11	is	be	AUX
fbem-11013	155	12	the	the	DET
fbem-11013	155	13	day	day	NOUN
fbem-11013	155	14	measured	measure	VERB
fbem-11013	155	15	relative	relative	NOUN
fbem-11013	155	16	to	to	ADP
fbem-11013	155	17	event	event	NOUN
fbem-11013	155	18	and	and	CCONJ
fbem-11013	155	19	where	where	SCONJ
fbem-11013	155	20	i	i	PRON
fbem-11013	155	21	is	be	AUX
fbem-11013	155	22	the	the	DET
fbem-11013	155	23	sample	sample	NOUN
fbem-11013	155	24	firm	firm	NOUN
fbem-11013	155	25	.	.	PUNCT
fbem-11013	156	1	rit	rit	PROPN
fbem-11013	156	2	reflects	reflect	VERB
fbem-11013	156	3	the	the	DET
fbem-11013	156	4	stock	stock	NOUN
fbem-11013	156	5	return	return	NOUN
fbem-11013	156	6	for	for	ADP
fbem-11013	156	7	firm	firm	ADJ
fbem-11013	156	8	i	i	PRON
fbem-11013	156	9	on	on	ADP
fbem-11013	156	10	a	a	DET
fbem-11013	156	11	given	give	VERB
fbem-11013	156	12	event	event	NOUN
fbem-11013	156	13	date	date	NOUN
fbem-11013	156	14	t	t	PROPN
fbem-11013	156	15	,	,	PUNCT
fbem-11013	156	16	and	and	CCONJ
fbem-11013	156	17	rmt	rmt	NOUN
fbem-11013	156	18	is	be	AUX
fbem-11013	156	19	market	market	NOUN
fbem-11013	156	20	returns	return	NOUN
fbem-11013	156	21	on	on	ADP
fbem-11013	156	22	a	a	DET
fbem-11013	156	23	given	give	VERB
fbem-11013	156	24	event	event	NOUN
fbem-11013	156	25	day	day	NOUN
fbem-11013	156	26	t	t	PROPN
fbem-11013	156	27	(	(	PUNCT
fbem-11013	156	28	as	as	SCONJ
fbem-11013	156	29	the	the	DET
fbem-11013	156	30	event	event	NOUN
fbem-11013	156	31	day	day	NOUN
fbem-11013	156	32	is	be	AUX
fbem-11013	156	33	day	day	NOUN
fbem-11013	156	34	0	0	NUM
fbem-11013	156	35	)	)	PUNCT
fbem-11013	156	36	within	within	ADP
fbem-11013	156	37	the	the	DET
fbem-11013	156	38	estimated	estimate	VERB
fbem-11013	156	39	window	window	NOUN
fbem-11013	156	40	.	.	PUNCT
fbem-11013	157	1	in	in	ADP
fbem-11013	157	2	this	this	DET
fbem-11013	157	3	study	study	NOUN
fbem-11013	157	4	,	,	PUNCT
fbem-11013	157	5	rit	rit	NOUN
fbem-11013	157	6	and	and	CCONJ
fbem-11013	157	7	rmt	rmt	NOUN
fbem-11013	157	8	refer	refer	NOUN
fbem-11013	157	9	to	to	ADP
fbem-11013	157	10	the	the	DET
fbem-11013	157	11	data	datum	NOUN
fbem-11013	157	12	obtained	obtain	VERB
fbem-11013	157	13	from	from	ADP
fbem-11013	157	14	individual	individual	ADJ
fbem-11013	157	15	stock	stock	NOUN
fbem-11013	157	16	returns	return	NOUN
fbem-11013	157	17	and	and	CCONJ
fbem-11013	157	18	value	value	NOUN
fbem-11013	157	19	-	-	PUNCT
fbem-11013	157	20	weighted	weight	VERB
fbem-11013	157	21	comprehensive	comprehensive	ADJ
fbem-11013	157	22	market	market	NOUN
fbem-11013	157	23	index	index	NOUN
fbem-11013	157	24	returns	return	NOUN
fbem-11013	157	25	sourced	source	VERB
fbem-11013	157	26	from	from	ADP
fbem-11013	157	27	china	china	PROPN
fbem-11013	157	28	stock	stock	NOUN
fbem-11013	157	29	market	market	PROPN
fbem-11013	157	30	and	and	CCONJ
fbem-11013	157	31	accounting	accounting	NOUN
fbem-11013	157	32	research	research	NOUN
fbem-11013	157	33	database	database	NOUN
fbem-11013	157	34	(	(	PUNCT
fbem-11013	157	35	csmar	csmar	PROPN
fbem-11013	157	36	)	)	PUNCT
fbem-11013	157	37	.	.	PUNCT
fbem-11013	158	1	αi	αi	VERB
fbem-11013	158	2	and	and	CCONJ
fbem-11013	158	3	βi	βi	PRON
fbem-11013	158	4	are	be	AUX
fbem-11013	158	5	parameter	parameter	NOUN
fbem-11013	158	6	estimates	estimate	NOUN
fbem-11013	158	7	estimated	estimate	VERB
fbem-11013	158	8	from	from	ADP
fbem-11013	158	9	ordinary	ordinary	ADJ
fbem-11013	158	10	least	least	ADJ
fbem-11013	158	11	square	square	ADJ
fbem-11013	158	12	(	(	PUNCT
fbem-11013	158	13	ols	ol	NOUN
fbem-11013	158	14	)	)	PUNCT
fbem-11013	158	15	regression	regression	NOUN
fbem-11013	158	16	process	process	NOUN
fbem-11013	158	17	,	,	PUNCT
fbem-11013	158	18	where	where	SCONJ
fbem-11013	158	19	αi	αi	PRON
fbem-11013	158	20	represents	represent	VERB
fbem-11013	158	21	the	the	DET
fbem-11013	158	22	estimated	estimate	VERB
fbem-11013	158	23	period	period	NOUN
fbem-11013	158	24	intercept	intercept	NOUN
fbem-11013	158	25	of	of	ADP
fbem-11013	158	26	firm	firm	NOUN
fbem-11013	158	27	i	i	PRON
fbem-11013	158	28	in	in	ADP
fbem-11013	158	29	the	the	DET
fbem-11013	158	30	regression	regression	NOUN
fbem-11013	158	31	equation	equation	NOUN
fbem-11013	158	32	and	and	CCONJ
fbem-11013	158	33	βi	βi	PRON
fbem-11013	158	34	represents	represent	VERB
fbem-11013	158	35	ols	ol	NOUN
fbem-11013	158	36	estimates	estimate	NOUN
fbem-11013	158	37	of	of	ADP
fbem-11013	158	38	firm	firm	NOUN
fbem-11013	158	39	i	i	PRON
fbem-11013	158	40	’s	’	VERB
fbem-11013	158	41	market	market	NOUN
fbem-11013	158	42	model	model	NOUN
fbem-11013	158	43	parameters	parameter	NOUN
fbem-11013	158	44	(	(	PUNCT
fbem-11013	158	45	the	the	DET
fbem-11013	158	46	slope	slope	NOUN
fbem-11013	158	47	of	of	ADP
fbem-11013	158	48	the	the	DET
fbem-11013	158	49	equation	equation	NOUN
fbem-11013	158	50	)	)	PUNCT
fbem-11013	158	51	.	.	PUNCT
fbem-11013	159	1	εit	εit	PROPN
fbem-11013	159	2	is	be	AUX
fbem-11013	159	3	the	the	DET
fbem-11013	159	4	error	error	NOUN
fbem-11013	159	5	term	term	NOUN
fbem-11013	159	6	of	of	ADP
fbem-11013	159	7	stock	stock	NOUN
fbem-11013	159	8	i	i	PRON
fbem-11013	159	9	on	on	ADP
fbem-11013	159	10	the	the	DET
fbem-11013	159	11	sample	sample	NOUN
fbem-11013	159	12	event	event	NOUN
fbem-11013	159	13	day	day	PROPN
fbem-11013	159	14	t	t	PROPN
fbem-11013	160	1	[	[	X
fbem-11013	160	2	43	43	NUM
fbem-11013	160	3	]	]	PUNCT
fbem-11013	160	4	.	.	PUNCT
fbem-11013	161	1	next	next	ADV
fbem-11013	161	2	,	,	PUNCT
fbem-11013	161	3	the	the	DET
fbem-11013	161	4	ordinary	ordinary	ADJ
fbem-11013	161	5	least	least	ADJ
fbem-11013	161	6	square	square	ADJ
fbem-11013	161	7	(	(	PUNCT
fbem-11013	161	8	ols	ol	NOUN
fbem-11013	161	9	)	)	PUNCT
fbem-11013	161	10	parameter	parameter	NOUN
fbem-11013	161	11	estimation	estimation	NOUN
fbem-11013	161	12	technique	technique	NOUN
fbem-11013	161	13	is	be	AUX
fbem-11013	161	14	used	use	VERB
fbem-11013	161	15	to	to	PART
fbem-11013	161	16	estimate	estimate	VERB
fbem-11013	161	17	αi	αi	ADV
fbem-11013	161	18	and	and	CCONJ
fbem-11013	161	19	βi	βi	PRON
fbem-11013	161	20	from	from	ADP
fbem-11013	161	21	the	the	DET
fbem-11013	161	22	estimation	estimation	NOUN
fbem-11013	161	23	period	period	NOUN
fbem-11013	161	24	.	.	PUNCT
fbem-11013	162	1	after	after	ADP
fbem-11013	162	2	determining	determine	VERB
fbem-11013	162	3	αi	αi	ADV
fbem-11013	162	4	and	and	CCONJ
fbem-11013	162	5	βi	βi	X
fbem-11013	162	6	through	through	ADP
fbem-11013	162	7	equation	equation	NOUN
fbem-11013	162	8	(	(	PUNCT
fbem-11013	162	9	1	1	NUM
fbem-11013	162	10	)	)	PUNCT
fbem-11013	162	11	,	,	PUNCT
fbem-11013	162	12	it	it	PRON
fbem-11013	162	13	is	be	AUX
fbem-11013	162	14	necessary	necessary	ADJ
fbem-11013	162	15	to	to	PART
fbem-11013	162	16	compute	compute	VERB
fbem-11013	162	17	the	the	DET
fbem-11013	162	18	daily	daily	ADJ
fbem-11013	162	19	abnormal	abnormal	ADJ
fbem-11013	162	20	stock	stock	NOUN
fbem-11013	162	21	returns	return	NOUN
fbem-11013	162	22	(	(	PUNCT
fbem-11013	162	23	ar	ar	NOUN
fbem-11013	162	24	)	)	PUNCT
fbem-11013	162	25	for	for	ADP
fbem-11013	162	26	the	the	DET
fbem-11013	162	27	specified	specify	VERB
fbem-11013	162	28	event	event	NOUN
fbem-11013	162	29	window	window	NOUN
fbem-11013	162	30	for	for	ADP
fbem-11013	162	31	firm	firm	ADJ
fbem-11013	162	32	i	i	PRON
fbem-11013	162	33	on	on	ADP
fbem-11013	162	34	day	day	PROPN
fbem-11013	162	35	t	t	PROPN
fbem-11013	162	36	,	,	PUNCT
fbem-11013	162	37	using	use	VERB
fbem-11013	162	38	the	the	DET
fbem-11013	162	39	αi	αi	NOUN
fbem-11013	162	40	and	and	CCONJ
fbem-11013	162	41	βi	βi	PRON
fbem-11013	162	42	obtained	obtain	VERB
fbem-11013	162	43	from	from	ADP
fbem-11013	162	44	equation	equation	NOUN
fbem-11013	162	45	(	(	PUNCT
fbem-11013	162	46	1	1	NUM
fbem-11013	162	47	)	)	PUNCT
fbem-11013	162	48	to	to	PART
fbem-11013	162	49	estimate	estimate	VERB
fbem-11013	162	50	the	the	DET
fbem-11013	162	51	expected	expect	VERB
fbem-11013	162	52	return	return	NOUN
fbem-11013	162	53	in	in	ADP
fbem-11013	162	54	event	event	NOUN
fbem-11013	162	55	period	period	NOUN
fbem-11013	162	56	.	.	PUNCT
fbem-11013	163	1	abnormal	abnormal	ADJ
fbem-11013	163	2	stock	stock	NOUN
fbem-11013	163	3	returns	return	NOUN
fbem-11013	163	4	(	(	PUNCT
fbem-11013	163	5	ar	ar	NOUN
fbem-11013	163	6	)	)	PUNCT
fbem-11013	163	7	reflect	reflect	VERB
fbem-11013	163	8	the	the	DET
fbem-11013	163	9	extent	extent	NOUN
fbem-11013	163	10	that	that	PRON
fbem-11013	163	11	expected	expect	VERB
fbem-11013	163	12	normal	normal	ADJ
fbem-11013	163	13	returns	return	NOUN
fbem-11013	163	14	(	(	PUNCT
fbem-11013	163	15	e(rit	e(rit	PROPN
fbem-11013	163	16	)	)	PUNCT
fbem-11013	163	17	)	)	PUNCT
fbem-11013	163	18	deviate	deviate	VERB
fbem-11013	163	19	from	from	ADP
fbem-11013	163	20	actual	actual	ADJ
fbem-11013	163	21	,	,	PUNCT
fbem-11013	163	22	realized	realize	VERB
fbem-11013	163	23	stock	stock	NOUN
fbem-11013	163	24	returns	return	NOUN
fbem-11013	163	25	(	(	PUNCT
fbem-11013	163	26	𝑅𝑖𝑡	𝑅𝑖𝑡	PROPN
fbem-11013	163	27	)	)	PUNCT
fbem-11013	163	28	on	on	ADP
fbem-11013	163	29	the	the	DET
fbem-11013	163	30	event	event	NOUN
fbem-11013	163	31	day	day	NOUN
fbem-11013	164	1	[	[	X
fbem-11013	164	2	43	43	NUM
fbem-11013	164	3	]	]	PUNCT
fbem-11013	164	4	.	.	PUNCT
fbem-11013	165	1	the	the	DET
fbem-11013	165	2	expected	expect	VERB
fbem-11013	165	3	returns	return	NOUN
fbem-11013	165	4	for	for	ADP
fbem-11013	165	5	stock	stock	NOUN
fbem-11013	165	6	i	i	PRON
fbem-11013	165	7	on	on	ADP
fbem-11013	165	8	day	day	NOUN
fbem-11013	165	9	t	t	PROPN
fbem-11013	165	10	is	be	AUX
fbem-11013	165	11	estimated	estimate	VERB
fbem-11013	165	12	as	as	ADP
fbem-11013	165	13	:	:	PUNCT
fbem-11013	165	14	𝐸	𝐸	PROPN
fbem-11013	165	15	𝑅	𝑅	PROPN
fbem-11013	165	16	𝛼	𝛼	PROPN
fbem-11013	165	17	𝛽	𝛽	PROPN
fbem-11013	165	18	𝑅	𝑅	PROPN
fbem-11013	165	19	(	(	PUNCT
fbem-11013	165	20	2	2	NUM
fbem-11013	165	21	)	)	PUNCT
fbem-11013	165	22	an	an	DET
fbem-11013	165	23	abnormal	abnormal	ADJ
fbem-11013	165	24	return	return	NOUN
fbem-11013	165	25	(	(	PUNCT
fbem-11013	165	26	ar	ar	NOUN
fbem-11013	165	27	)	)	PUNCT
fbem-11013	165	28	for	for	ADP
fbem-11013	165	29	each	each	DET
fbem-11013	165	30	sample	sample	NOUN
fbem-11013	165	31	firm	firm	NOUN
fbem-11013	165	32	i	i	PRON
fbem-11013	165	33	on	on	ADP
fbem-11013	165	34	event	event	NOUN
fbem-11013	165	35	day	day	PROPN
fbem-11013	165	36	t	t	PROPN
fbem-11013	165	37	are	be	AUX
fbem-11013	165	38	obtained	obtain	VERB
fbem-11013	165	39	as	as	ADP
fbem-11013	165	40	follows	follow	VERB
fbem-11013	165	41	:	:	PUNCT
fbem-11013	165	42	𝐴𝑅	𝐴𝑅	PROPN
fbem-11013	165	43	𝑅	𝑅	PROPN
fbem-11013	165	44	e	e	PROPN
fbem-11013	165	45	𝑅	𝑅	PROPN
fbem-11013	165	46	(	(	PUNCT
fbem-11013	165	47	3	3	NUM
fbem-11013	165	48	)	)	PUNCT
fbem-11013	165	49	daily	daily	ADJ
fbem-11013	165	50	ars	ar	NOUN
fbem-11013	165	51	are	be	AUX
fbem-11013	165	52	accrued	accrue	VERB
fbem-11013	165	53	to	to	PART
fbem-11013	165	54	calculate	calculate	VERB
fbem-11013	165	55	the	the	DET
fbem-11013	165	56	cumulative	cumulative	ADJ
fbem-11013	165	57	abnormal	abnormal	ADJ
fbem-11013	165	58	return	return	NOUN
fbem-11013	165	59	(	(	PUNCT
fbem-11013	165	60	car	car	NOUN
fbem-11013	165	61	)	)	PUNCT
fbem-11013	165	62	for	for	ADP
fbem-11013	165	63	each	each	DET
fbem-11013	165	64	specific	specific	ADJ
fbem-11013	165	65	window	window	NOUN
fbem-11013	165	66	period	period	NOUN
fbem-11013	165	67	.	.	PUNCT
fbem-11013	166	1	car	car	NOUN
fbem-11013	166	2	from	from	ADP
fbem-11013	166	3	t1	t1	NOUN
fbem-11013	166	4	to	to	ADP
fbem-11013	166	5	t2	t2	PROPN
fbem-11013	166	6	is	be	AUX
fbem-11013	166	7	calculated	calculate	VERB
fbem-11013	166	8	as	as	SCONJ
fbem-11013	166	9	follows	follow	VERB
fbem-11013	166	10	using	use	VERB
fbem-11013	166	11	all	all	DET
fbem-11013	166	12	previously	previously	ADV
fbem-11013	166	13	defined	define	VERB
fbem-11013	166	14	terms	term	NOUN
fbem-11013	166	15	:	:	PUNCT
fbem-11013	166	16	𝐶𝐴𝑅	𝐶𝐴𝑅	AUX
fbem-11013	166	17	𝑡	𝑡	PROPN
fbem-11013	166	18	,	,	PUNCT
fbem-11013	166	19	𝑡	𝑡	PROPN
fbem-11013	166	20	∑	∑	PROPN
fbem-11013	166	21	𝐴𝑅	𝐴𝑅	PROPN
fbem-11013	166	22	(	(	PUNCT
fbem-11013	166	23	4	4	NUM
fbem-11013	166	24	)	)	PUNCT
fbem-11013	166	25	4.2.1.2	4.2.1.2	NUM
fbem-11013	166	26	long	long	ADJ
fbem-11013	166	27	-	-	PUNCT
fbem-11013	166	28	term	term	NOUN
fbem-11013	166	29	stock	stock	NOUN
fbem-11013	166	30	market	market	NOUN
fbem-11013	166	31	performance	performance	NOUN
fbem-11013	166	32	in	in	ADP
fbem-11013	166	33	this	this	DET
fbem-11013	166	34	study	study	NOUN
fbem-11013	166	35	,	,	PUNCT
fbem-11013	166	36	long	long	ADJ
fbem-11013	166	37	-	-	PUNCT
fbem-11013	166	38	term	term	NOUN
fbem-11013	166	39	market	market	NOUN
fbem-11013	166	40	performance	performance	NOUN
fbem-11013	166	41	is	be	AUX
fbem-11013	166	42	measured	measure	VERB
fbem-11013	166	43	as	as	ADP
fbem-11013	166	44	the	the	DET
fbem-11013	166	45	"	"	PUNCT
fbem-11013	166	46	buy	buy	VERB
fbem-11013	166	47	-	-	PUNCT
fbem-11013	166	48	and	and	CCONJ
fbem-11013	166	49	-	-	PUNCT
fbem-11013	166	50	hold	hold	VERB
fbem-11013	166	51	abnormal	abnormal	ADJ
fbem-11013	166	52	returns	return	NOUN
fbem-11013	166	53	"	"	PUNCT
fbem-11013	166	54	(	(	PUNCT
fbem-11013	166	55	bhar	bhar	PROPN
fbem-11013	166	56	)	)	PUNCT
fbem-11013	166	57	of	of	ADP
fbem-11013	166	58	the	the	DET
fbem-11013	166	59	acquiring	acquire	VERB
fbem-11013	166	60	firm	firm	NOUN
fbem-11013	166	61	's	's	PART
fbem-11013	166	62	stock	stock	NOUN
fbem-11013	166	63	over	over	ADP
fbem-11013	166	64	a	a	DET
fbem-11013	166	65	three	three	NUM
fbem-11013	166	66	-	-	PUNCT
fbem-11013	166	67	year	year	NOUN
fbem-11013	166	68	period	period	NOUN
fbem-11013	166	69	.	.	PUNCT
fbem-11013	167	1	bhar	bhar	PROPN
fbem-11013	167	2	reflects	reflect	VERB
fbem-11013	167	3	the	the	DET
fbem-11013	167	4	return	return	NOUN
fbem-11013	167	5	to	to	ADP
fbem-11013	167	6	an	an	DET
fbem-11013	167	7	investor	investor	NOUN
fbem-11013	167	8	if	if	SCONJ
fbem-11013	167	9	they	they	PRON
fbem-11013	167	10	bought	buy	VERB
fbem-11013	167	11	an	an	DET
fbem-11013	167	12	acquiring	acquire	VERB
fbem-11013	167	13	firm	firm	NOUN
fbem-11013	167	14	’s	’s	PART
fbem-11013	167	15	stock	stock	NOUN
fbem-11013	167	16	on	on	ADP
fbem-11013	167	17	acquisition	acquisition	NOUN
fbem-11013	167	18	announcement	announcement	NOUN
fbem-11013	167	19	to	to	ADP
fbem-11013	167	20	a	a	DET
fbem-11013	167	21	specified	specified	ADJ
fbem-11013	167	22	later	later	ADJ
fbem-11013	167	23	date	date	NOUN
fbem-11013	167	24	.	.	PUNCT
fbem-11013	168	1	the	the	DET
fbem-11013	168	2	long	long	ADJ
fbem-11013	168	3	-	-	PUNCT
fbem-11013	168	4	term	term	NOUN
fbem-11013	168	5	returns	return	NOUN
fbem-11013	168	6	are	be	AUX
fbem-11013	168	7	calculated	calculate	VERB
fbem-11013	168	8	monthly	monthly	ADV
fbem-11013	168	9	,	,	PUNCT
fbem-11013	168	10	compounding	compound	VERB
fbem-11013	168	11	36	36	NUM
fbem-11013	168	12	months	month	NOUN
fbem-11013	168	13	after	after	ADP
fbem-11013	168	14	the	the	DET
fbem-11013	168	15	m&as	m&as	NOUN
fbem-11013	168	16	,	,	PUNCT
fbem-11013	168	17	adjusted	adjust	VERB
fbem-11013	168	18	by	by	ADP
fbem-11013	168	19	the	the	DET
fbem-11013	168	20	benchmark	benchmark	NOUN
fbem-11013	168	21	return	return	NOUN
fbem-11013	168	22	,	,	PUNCT
fbem-11013	168	23	consistent	consistent	ADJ
fbem-11013	168	24	with	with	ADP
fbem-11013	168	25	prior	prior	ADJ
fbem-11013	168	26	studies	study	NOUN
fbem-11013	168	27	[	[	X
fbem-11013	168	28	38	38	NUM
fbem-11013	168	29	,	,	PUNCT
fbem-11013	168	30	44	44	NUM
fbem-11013	168	31	,	,	PUNCT
fbem-11013	168	32	45	45	NUM
fbem-11013	168	33	]	]	NOUN
fbem-11013	168	34	:	:	PUNCT
fbem-11013	168	35	𝐵𝐻𝐴𝑅	𝐵𝐻𝐴𝑅	PROPN
fbem-11013	168	36	∏	∏	PROPN
fbem-11013	168	37	1	1	NUM
fbem-11013	168	38	𝑅	𝑅	PROPN
fbem-11013	168	39	∏	∏	PROPN
fbem-11013	168	40	1	1	NUM
fbem-11013	168	41	𝑅	𝑅	PROPN
fbem-11013	168	42	(	(	PUNCT
fbem-11013	168	43	5	5	NUM
fbem-11013	168	44	)	)	PUNCT
fbem-11013	168	45	where	where	SCONJ
fbem-11013	168	46	t	t	PROPN
fbem-11013	168	47	is	be	AUX
fbem-11013	168	48	the	the	DET
fbem-11013	168	49	month	month	NOUN
fbem-11013	168	50	measured	measure	VERB
fbem-11013	168	51	relative	relative	ADJ
fbem-11013	168	52	to	to	ADP
fbem-11013	168	53	event	event	NOUN
fbem-11013	168	54	.	.	PUNCT
fbem-11013	169	1	t	t	PROPN
fbem-11013	169	2	is	be	AUX
fbem-11013	169	3	the	the	DET
fbem-11013	169	4	number	number	NOUN
fbem-11013	169	5	of	of	ADP
fbem-11013	169	6	months	month	NOUN
fbem-11013	169	7	and	and	CCONJ
fbem-11013	169	8	i	i	PRON
fbem-11013	169	9	is	be	AUX
fbem-11013	169	10	the	the	DET
fbem-11013	169	11	sample	sample	NOUN
fbem-11013	169	12	firm	firm	NOUN
fbem-11013	169	13	.	.	PUNCT
fbem-11013	170	1	rit	rit	PROPN
fbem-11013	170	2	is	be	AUX
fbem-11013	170	3	the	the	DET
fbem-11013	170	4	stock	stock	NOUN
fbem-11013	170	5	return	return	NOUN
fbem-11013	170	6	for	for	ADP
fbem-11013	170	7	firm	firm	ADJ
fbem-11013	170	8	i	i	PRON
fbem-11013	170	9	in	in	ADP
fbem-11013	170	10	event	event	NOUN
fbem-11013	170	11	month	month	NOUN
fbem-11013	170	12	t.	t.	NOUN
fbem-11013	170	13	rmt	rmt	NOUN
fbem-11013	170	14	is	be	AUX
fbem-11013	170	15	the	the	DET
fbem-11013	170	16	market	market	NOUN
fbem-11013	170	17	return	return	NOUN
fbem-11013	170	18	in	in	ADP
fbem-11013	170	19	event	event	NOUN
fbem-11013	170	20	month	month	NOUN
fbem-11013	170	21	t.	t.	PROPN
fbem-11013	170	22	rit	rit	PROPN
fbem-11013	170	23	and	and	CCONJ
fbem-11013	170	24	rmt	rmt	NOUN
fbem-11013	170	25	refer	refer	NOUN
fbem-11013	170	26	to	to	ADP
fbem-11013	170	27	the	the	DET
fbem-11013	170	28	data	datum	NOUN
fbem-11013	170	29	obtained	obtain	VERB
fbem-11013	170	30	from	from	ADP
fbem-11013	170	31	individual	individual	ADJ
fbem-11013	170	32	stock	stock	NOUN
fbem-11013	170	33	returns	return	NOUN
fbem-11013	170	34	and	and	CCONJ
fbem-11013	170	35	value	value	NOUN
fbem-11013	170	36	-	-	PUNCT
fbem-11013	170	37	weighted	weight	VERB
fbem-11013	170	38	comprehensive	comprehensive	ADJ
fbem-11013	170	39	market	market	NOUN
fbem-11013	170	40	returns	return	NOUN
fbem-11013	170	41	sourced	source	VERB
fbem-11013	170	42	from	from	ADP
fbem-11013	170	43	china	china	PROPN
fbem-11013	170	44	stock	stock	NOUN
fbem-11013	170	45	market	market	PROPN
fbem-11013	170	46	and	and	CCONJ
fbem-11013	170	47	accounting	accounting	NOUN
fbem-11013	170	48	research	research	NOUN
fbem-11013	170	49	database	database	NOUN
fbem-11013	170	50	(	(	PUNCT
fbem-11013	170	51	csmar	csmar	PROPN
fbem-11013	170	52	)	)	PUNCT
fbem-11013	170	53	.	.	PUNCT
fbem-11013	171	1	bharit	bharit	PROPN
fbem-11013	171	2	represents	represent	VERB
fbem-11013	171	3	the	the	DET
fbem-11013	171	4	total	total	ADJ
fbem-11013	171	5	return	return	NOUN
fbem-11013	171	6	for	for	ADP
fbem-11013	171	7	firm	firm	ADJ
fbem-11013	171	8	i	i	PROPN
fbem-11013	171	9	,	,	PUNCT
fbem-11013	171	10	from	from	ADP
fbem-11013	171	11	a	a	DET
fbem-11013	171	12	buy	buy	VERB
fbem-11013	171	13	-	-	PUNCT
fbem-11013	171	14	and	and	CCONJ
fbem-11013	171	15	-	-	PUNCT
fbem-11013	171	16	hold	hold	VERB
fbem-11013	171	17	strategy	strategy	NOUN
fbem-11013	171	18	started	start	VERB
fbem-11013	171	19	following	follow	VERB
fbem-11013	171	20	the	the	DET
fbem-11013	171	21	merger	merger	NOUN
fbem-11013	171	22	and	and	CCONJ
fbem-11013	171	23	acquisition	acquisition	NOUN
fbem-11013	171	24	completion	completion	NOUN
fbem-11013	171	25	month	month	NOUN
fbem-11013	171	26	and	and	CCONJ
fbem-11013	171	27	held	hold	VERB
fbem-11013	171	28	for	for	ADP
fbem-11013	171	29	t	t	NOUN
fbem-11013	171	30	months	month	NOUN
fbem-11013	171	31	(	(	PUNCT
fbem-11013	171	32	t=	t=	NOUN
fbem-11013	171	33	12	12	NUM
fbem-11013	171	34	,	,	PUNCT
fbem-11013	171	35	24	24	NUM
fbem-11013	171	36	,	,	PUNCT
fbem-11013	171	37	and	and	CCONJ
fbem-11013	171	38	36	36	NUM
fbem-11013	171	39	)	)	PUNCT
fbem-11013	171	40	.	.	PUNCT
fbem-11013	172	1	4.2.1.3	4.2.1.3	NUM
fbem-11013	172	2	long	long	ADJ
fbem-11013	172	3	-	-	PUNCT
fbem-11013	172	4	term	term	NOUN
fbem-11013	172	5	financial	financial	ADJ
fbem-11013	172	6	performance	performance	NOUN
fbem-11013	172	7	this	this	DET
fbem-11013	172	8	study	study	NOUN
fbem-11013	172	9	uses	use	VERB
fbem-11013	172	10	roa	roa	PROPN
fbem-11013	172	11	as	as	ADP
fbem-11013	172	12	a	a	DET
fbem-11013	172	13	measure	measure	NOUN
fbem-11013	172	14	of	of	ADP
fbem-11013	172	15	financial	financial	ADJ
fbem-11013	172	16	performance	performance	NOUN
fbem-11013	172	17	and	and	CCONJ
fbem-11013	172	18	roa	roa	NOUN
fbem-11013	172	19	was	be	AUX
fbem-11013	172	20	the	the	DET
fbem-11013	172	21	dominant	dominant	ADJ
fbem-11013	172	22	financial	financial	ADJ
fbem-11013	172	23	measure	measure	NOUN
fbem-11013	172	24	used	use	VERB
fbem-11013	172	25	in	in	ADP
fbem-11013	172	26	acquisition	acquisition	NOUN
fbem-11013	172	27	research	research	NOUN
fbem-11013	172	28	[	[	X
fbem-11013	172	29	46	46	NUM
fbem-11013	172	30	]	]	PUNCT
fbem-11013	172	31	.	.	PUNCT
fbem-11013	173	1	roa	roa	PROPN
fbem-11013	173	2	refers	refer	VERB
fbem-11013	173	3	to	to	ADP
fbem-11013	173	4	earnings	earning	NOUN
fbem-11013	173	5	before	before	ADP
fbem-11013	173	6	interest	interest	NOUN
fbem-11013	173	7	and	and	CCONJ
fbem-11013	173	8	tax	tax	NOUN
fbem-11013	173	9	divided	divide	VERB
fbem-11013	173	10	by	by	ADP
fbem-11013	173	11	the	the	DET
fbem-11013	173	12	total	total	ADJ
fbem-11013	173	13	assets	asset	NOUN
fbem-11013	173	14	.	.	PUNCT
fbem-11013	174	1	this	this	DET
fbem-11013	174	2	study	study	NOUN
fbem-11013	174	3	draws	draw	VERB
fbem-11013	174	4	inspiration	inspiration	NOUN
fbem-11013	174	5	from	from	ADP
fbem-11013	174	6	the	the	DET
fbem-11013	174	7	methods	method	NOUN
fbem-11013	174	8	used	use	VERB
fbem-11013	174	9	by	by	ADP
fbem-11013	174	10	ghannam	ghannam	PROPN
fbem-11013	174	11	,	,	PUNCT
fbem-11013	174	12	matolcsy	matolcsy	NOUN
fbem-11013	174	13	,	,	PUNCT
fbem-11013	174	14	spiropoulos	spiropoulo	NOUN
fbem-11013	174	15	,	,	PUNCT
fbem-11013	174	16	and	and	CCONJ
fbem-11013	174	17	thai	thai	PROPN
fbem-11013	174	18	(	(	PUNCT
fbem-11013	174	19	2019	2019	NUM
fbem-11013	174	20	)	)	PUNCT
fbem-11013	174	21	,	,	PUNCT
fbem-11013	174	22	nguyen	nguyen	NOUN
fbem-11013	174	23	and	and	CCONJ
fbem-11013	174	24	vu	vu	X
fbem-11013	174	25	(	(	PUNCT
fbem-11013	174	26	2021	2021	NUM
fbem-11013	174	27	)	)	PUNCT
fbem-11013	174	28	,	,	PUNCT
fbem-11013	174	29	suk	suk	PROPN
fbem-11013	174	30	and	and	CCONJ
fbem-11013	174	31	wang	wang	PROPN
fbem-11013	174	32	(	(	PUNCT
fbem-11013	174	33	2021	2021	NUM
fbem-11013	174	34	)	)	PUNCT
fbem-11013	174	35	and	and	CCONJ
fbem-11013	174	36	wang	wang	PROPN
fbem-11013	174	37	and	and	CCONJ
fbem-11013	174	38	li	li	PROPN
fbem-11013	175	1	[	[	X
fbem-11013	175	2	47	47	NUM
fbem-11013	175	3	]	]	PUNCT
fbem-11013	175	4	by	by	ADP
fbem-11013	175	5	utilizing	utilize	VERB
fbem-11013	175	6	the	the	DET
fbem-11013	175	7	change	change	NOUN
fbem-11013	175	8	in	in	ADP
fbem-11013	175	9	return	return	NOUN
fbem-11013	175	10	on	on	ADP
fbem-11013	175	11	assets	asset	NOUN
fbem-11013	175	12	(	(	PUNCT
fbem-11013	175	13	δroa	δroa	NOUN
fbem-11013	175	14	)	)	PUNCT
fbem-11013	175	15	as	as	ADP
fbem-11013	175	16	a	a	DET
fbem-11013	175	17	proxy	proxy	ADJ
fbem-11013	175	18	indicator	indicator	NOUN
fbem-11013	175	19	to	to	PART
fbem-11013	175	20	measure	measure	VERB
fbem-11013	175	21	a	a	DET
fbem-11013	175	22	firm	firm	NOUN
fbem-11013	175	23	's	's	PART
fbem-11013	175	24	financial	financial	ADJ
fbem-11013	175	25	performance	performance	NOUN
fbem-11013	175	26	.	.	PUNCT
fbem-11013	176	1	the	the	DET
fbem-11013	176	2	δroa1	δroa1	NOUN
fbem-11013	176	3	represents	represent	VERB
fbem-11013	176	4	the	the	DET
fbem-11013	176	5	change	change	NOUN
fbem-11013	176	6	in	in	ADP
fbem-11013	176	7	roa	roa	NOUN
fbem-11013	176	8	of	of	ADP
fbem-11013	176	9	the	the	DET
fbem-11013	176	10	sample	sample	NOUN
fbem-11013	176	11	firm	firm	NOUN
fbem-11013	176	12	one	one	NUM
fbem-11013	176	13	year	year	NOUN
fbem-11013	176	14	before	before	ADV
fbem-11013	176	15	and	and	CCONJ
fbem-11013	176	16	after	after	ADP
fbem-11013	176	17	the	the	DET
fbem-11013	176	18	first	first	ADJ
fbem-11013	176	19	merger	merger	NOUN
fbem-11013	176	20	and	and	CCONJ
fbem-11013	176	21	acquisition	acquisition	NOUN
fbem-11013	176	22	announcement	announcement	NOUN
fbem-11013	176	23	date	date	NOUN
fbem-11013	176	24	.	.	PUNCT
fbem-11013	177	1	δroa1	δroa1	NOUN
fbem-11013	177	2	is	be	AUX
fbem-11013	177	3	calculated	calculate	VERB
fbem-11013	177	4	as	as	SCONJ
fbem-11013	177	5	follows	follow	VERB
fbem-11013	177	6	using	use	VERB
fbem-11013	177	7	all	all	DET
fbem-11013	177	8	previously	previously	ADV
fbem-11013	177	9	defined	define	VERB
fbem-11013	177	10	terms	term	NOUN
fbem-11013	177	11	:	:	PUNCT
fbem-11013	177	12	∆𝑅𝑂𝐴	∆𝑅𝑂𝐴	NUM
fbem-11013	177	13	𝑅𝑂𝐴	𝑅𝑂𝐴	PROPN
fbem-11013	177	14	𝑅𝑂𝐴	𝑅𝑂𝐴	PROPN
fbem-11013	177	15	(	(	PUNCT
fbem-11013	177	16	6	6	NUM
fbem-11013	177	17	)	)	PUNCT
fbem-11013	177	18	where	where	SCONJ
fbem-11013	177	19	i	i	PRON
fbem-11013	177	20	is	be	AUX
fbem-11013	177	21	the	the	DET
fbem-11013	177	22	sample	sample	NOUN
fbem-11013	177	23	firm	firm	NOUN
fbem-11013	177	24	and	and	CCONJ
fbem-11013	177	25	t	t	PROPN
fbem-11013	177	26	represent	represent	VERB
fbem-11013	177	27	the	the	DET
fbem-11013	177	28	year	year	NOUN
fbem-11013	177	29	in	in	ADP
fbem-11013	177	30	which	which	PRON
fbem-11013	177	31	the	the	DET
fbem-11013	177	32	sample	sample	NOUN
fbem-11013	177	33	firm	firm	NOUN
fbem-11013	177	34	’s	’s	PART
fbem-11013	177	35	first	first	ADJ
fbem-11013	177	36	merger	merger	NOUN
fbem-11013	177	37	and	and	CCONJ
fbem-11013	177	38	acquisition	acquisition	NOUN
fbem-11013	177	39	announcement	announcement	NOUN
fbem-11013	177	40	date	date	NOUN
fbem-11013	177	41	falls	fall	VERB
fbem-11013	177	42	.	.	PUNCT
fbem-11013	178	1	the	the	DET
fbem-11013	178	2	roa	roa	PROPN
fbem-11013	178	3	data	datum	NOUN
fbem-11013	178	4	for	for	ADP
fbem-11013	178	5	the	the	DET
fbem-11013	178	6	sample	sample	NOUN
fbem-11013	178	7	firm	firm	NOUN
fbem-11013	178	8	is	be	AUX
fbem-11013	178	9	sourced	source	VERB
fbem-11013	178	10	from	from	ADP
fbem-11013	178	11	the	the	DET
fbem-11013	178	12	china	china	PROPN
fbem-11013	178	13	stock	stock	NOUN
fbem-11013	178	14	market	market	PROPN
fbem-11013	178	15	and	and	CCONJ
fbem-11013	178	16	accounting	accounting	NOUN
fbem-11013	178	17	research	research	NOUN
fbem-11013	178	18	database	database	NOUN
fbem-11013	178	19	253	253	NUM
fbem-11013	178	20	(	(	PUNCT
fbem-11013	178	21	csmar	csmar	PROPN
fbem-11013	178	22	)	)	PUNCT
fbem-11013	178	23	.	.	PUNCT
fbem-11013	179	1	the	the	DET
fbem-11013	179	2	δroa2	δroa2	NOUN
fbem-11013	179	3	represents	represent	VERB
fbem-11013	179	4	the	the	DET
fbem-11013	179	5	change	change	NOUN
fbem-11013	179	6	in	in	ADP
fbem-11013	179	7	roa	roa	PROPN
fbem-11013	179	8	for	for	ADP
fbem-11013	179	9	the	the	DET
fbem-11013	179	10	sample	sample	NOUN
fbem-11013	179	11	firms	firm	NOUN
fbem-11013	179	12	between	between	ADP
fbem-11013	179	13	the	the	DET
fbem-11013	179	14	second	second	ADJ
fbem-11013	179	15	year	year	NOUN
fbem-11013	179	16	after	after	ADP
fbem-11013	179	17	the	the	DET
fbem-11013	179	18	merger	merger	NOUN
fbem-11013	179	19	and	and	CCONJ
fbem-11013	179	20	acquisition	acquisition	NOUN
fbem-11013	179	21	announcement	announcement	NOUN
fbem-11013	179	22	date	date	NOUN
fbem-11013	179	23	and	and	CCONJ
fbem-11013	179	24	the	the	DET
fbem-11013	179	25	preceding	precede	VERB
fbem-11013	179	26	year	year	NOUN
fbem-11013	179	27	.	.	PUNCT
fbem-11013	180	1	δroa2	δroa2	NOUN
fbem-11013	180	2	is	be	AUX
fbem-11013	180	3	calculated	calculate	VERB
fbem-11013	180	4	as	as	SCONJ
fbem-11013	180	5	follows	follow	VERB
fbem-11013	180	6	using	use	VERB
fbem-11013	180	7	all	all	DET
fbem-11013	180	8	previously	previously	ADV
fbem-11013	180	9	defined	define	VERB
fbem-11013	180	10	terms	term	NOUN
fbem-11013	180	11	:	:	PUNCT
fbem-11013	180	12	∆𝑅𝑂𝐴	∆𝑅𝑂𝐴	NUM
fbem-11013	180	13	𝑅𝑂𝐴	𝑅𝑂𝐴	PROPN
fbem-11013	180	14	𝑅𝑂𝐴	𝑅𝑂𝐴	PROPN
fbem-11013	180	15	(	(	PUNCT
fbem-11013	180	16	7	7	NUM
fbem-11013	180	17	)	)	PUNCT
fbem-11013	180	18	the	the	DET
fbem-11013	180	19	δroa3	δroa3	NOUN
fbem-11013	180	20	represents	represent	VERB
fbem-11013	180	21	the	the	DET
fbem-11013	180	22	change	change	NOUN
fbem-11013	180	23	in	in	ADP
fbem-11013	180	24	roa	roa	PROPN
fbem-11013	180	25	for	for	ADP
fbem-11013	180	26	the	the	DET
fbem-11013	180	27	sample	sample	NOUN
fbem-11013	180	28	firms	firm	NOUN
fbem-11013	180	29	between	between	ADP
fbem-11013	180	30	the	the	DET
fbem-11013	180	31	third	third	ADJ
fbem-11013	180	32	year	year	NOUN
fbem-11013	180	33	after	after	ADP
fbem-11013	180	34	the	the	DET
fbem-11013	180	35	merger	merger	NOUN
fbem-11013	180	36	and	and	CCONJ
fbem-11013	180	37	acquisition	acquisition	NOUN
fbem-11013	180	38	announcement	announcement	NOUN
fbem-11013	180	39	date	date	NOUN
fbem-11013	180	40	and	and	CCONJ
fbem-11013	180	41	the	the	DET
fbem-11013	180	42	preceding	precede	VERB
fbem-11013	180	43	year	year	NOUN
fbem-11013	180	44	.	.	PUNCT
fbem-11013	181	1	δroa3	δroa3	PROPN
fbem-11013	181	2	is	be	AUX
fbem-11013	181	3	calculated	calculate	VERB
fbem-11013	181	4	as	as	SCONJ
fbem-11013	181	5	follows	follow	VERB
fbem-11013	181	6	using	use	VERB
fbem-11013	181	7	all	all	DET
fbem-11013	181	8	previously	previously	ADV
fbem-11013	181	9	defined	define	VERB
fbem-11013	181	10	terms	term	NOUN
fbem-11013	181	11	:	:	PUNCT
fbem-11013	181	12	∆𝑅𝑂𝐴	∆𝑅𝑂𝐴	NUM
fbem-11013	181	13	𝑅𝑂𝐴	𝑅𝑂𝐴	PROPN
fbem-11013	181	14	𝑅𝑂𝐴	𝑅𝑂𝐴	PROPN
fbem-11013	181	15	(	(	PUNCT
fbem-11013	181	16	8)	8)	NUM
fbem-11013	181	17	4.2.2	4.2.2	NUM
fbem-11013	181	18	.	.	PUNCT
fbem-11013	182	1	market	market	NOUN
fbem-11013	182	2	mispricing	misprice	VERB
fbem-11013	182	3	timing	time	VERB
fbem-11013	182	4	this	this	DET
fbem-11013	182	5	study	study	NOUN
fbem-11013	182	6	adopts	adopt	VERB
fbem-11013	182	7	the	the	DET
fbem-11013	182	8	market	market	NOUN
fbem-11013	182	9	valuation	valuation	NOUN
fbem-11013	182	10	methodology	methodology	NOUN
fbem-11013	182	11	as	as	SCONJ
fbem-11013	182	12	established	establish	VERB
fbem-11013	182	13	by	by	ADP
fbem-11013	182	14	antoniou	antoniou	NOUN
fbem-11013	182	15	,	,	PUNCT
fbem-11013	182	16	guo	guo	PROPN
fbem-11013	183	1	[	[	X
fbem-11013	183	2	33	33	NUM
fbem-11013	183	3	]	]	PUNCT
fbem-11013	183	4	,	,	PUNCT
fbem-11013	183	5	involving	involve	VERB
fbem-11013	183	6	the	the	DET
fbem-11013	183	7	utilization	utilization	NOUN
fbem-11013	183	8	of	of	ADP
fbem-11013	183	9	market	market	NOUN
fbem-11013	183	10	return	return	NOUN
fbem-11013	183	11	rate	rate	NOUN
fbem-11013	183	12	for	for	ADP
fbem-11013	183	13	classifying	classify	VERB
fbem-11013	183	14	the	the	DET
fbem-11013	183	15	market	market	NOUN
fbem-11013	183	16	into	into	ADP
fbem-11013	183	17	highvaluation	highvaluation	NOUN
fbem-11013	183	18	and	and	CCONJ
fbem-11013	183	19	low	low	ADJ
fbem-11013	183	20	-	-	PUNCT
fbem-11013	183	21	valuation	valuation	NOUN
fbem-11013	183	22	categories	category	NOUN
fbem-11013	183	23	.	.	PUNCT
fbem-11013	184	1	additionally	additionally	ADV
fbem-11013	184	2	,	,	PUNCT
fbem-11013	184	3	this	this	DET
fbem-11013	184	4	study	study	NOUN
fbem-11013	184	5	draws	draw	VERB
fbem-11013	184	6	from	from	ADP
fbem-11013	184	7	the	the	DET
fbem-11013	184	8	approach	approach	NOUN
fbem-11013	184	9	outlined	outline	VERB
fbem-11013	184	10	by	by	ADP
fbem-11013	184	11	fu	fu	PROPN
fbem-11013	184	12	,	,	PUNCT
fbem-11013	184	13	zhou	zhou	PROPN
fbem-11013	185	1	[	[	X
fbem-11013	185	2	48	48	NUM
fbem-11013	185	3	]	]	PUNCT
fbem-11013	185	4	,	,	PUNCT
fbem-11013	185	5	which	which	PRON
fbem-11013	185	6	employs	employ	VERB
fbem-11013	185	7	index	index	NOUN
fbem-11013	185	8	return	return	NOUN
fbem-11013	185	9	rate	rate	NOUN
fbem-11013	185	10	as	as	ADP
fbem-11013	185	11	an	an	DET
fbem-11013	185	12	indicator	indicator	NOUN
fbem-11013	185	13	to	to	PART
fbem-11013	185	14	gauge	gauge	VERB
fbem-11013	185	15	stock	stock	NOUN
fbem-11013	185	16	market	market	NOUN
fbem-11013	185	17	valuation	valuation	NOUN
fbem-11013	185	18	.	.	PUNCT
fbem-11013	186	1	this	this	PRON
fbem-11013	186	2	further	far	ADV
fbem-11013	186	3	validates	validate	VERB
fbem-11013	186	4	the	the	DET
fbem-11013	186	5	rationale	rationale	NOUN
fbem-11013	186	6	behind	behind	ADP
fbem-11013	186	7	classifying	classify	VERB
fbem-11013	186	8	markets	market	NOUN
fbem-11013	186	9	as	as	ADP
fbem-11013	186	10	overvalued	overvalue	VERB
fbem-11013	186	11	or	or	CCONJ
fbem-11013	186	12	undervalued	undervalue	VERB
fbem-11013	186	13	.	.	PUNCT
fbem-11013	187	1	consequently	consequently	ADV
fbem-11013	187	2	,	,	PUNCT
fbem-11013	187	3	this	this	DET
fbem-11013	187	4	study	study	NOUN
fbem-11013	187	5	will	will	AUX
fbem-11013	187	6	employ	employ	VERB
fbem-11013	187	7	both	both	DET
fbem-11013	187	8	market	market	NOUN
fbem-11013	187	9	return	return	NOUN
fbem-11013	187	10	rate	rate	NOUN
fbem-11013	187	11	and	and	CCONJ
fbem-11013	187	12	index	index	NOUN
fbem-11013	187	13	return	return	NOUN
fbem-11013	187	14	rate	rate	NOUN
fbem-11013	187	15	as	as	ADP
fbem-11013	187	16	comprehensive	comprehensive	ADJ
fbem-11013	187	17	indicators	indicator	NOUN
fbem-11013	187	18	to	to	PART
fbem-11013	187	19	assess	assess	VERB
fbem-11013	187	20	market	market	NOUN
fbem-11013	187	21	mispricing	misprice	VERB
fbem-11013	187	22	and	and	CCONJ
fbem-11013	187	23	categorize	categorize	VERB
fbem-11013	187	24	the	the	DET
fbem-11013	187	25	market	market	NOUN
fbem-11013	187	26	into	into	ADP
fbem-11013	187	27	highvaluation	highvaluation	NOUN
fbem-11013	187	28	and	and	CCONJ
fbem-11013	187	29	low	low	ADJ
fbem-11013	187	30	-	-	PUNCT
fbem-11013	187	31	valuation	valuation	NOUN
fbem-11013	187	32	segments	segment	NOUN
fbem-11013	187	33	.	.	PUNCT
fbem-11013	188	1	for	for	ADP
fbem-11013	188	2	the	the	DET
fbem-11013	188	3	measurement	measurement	NOUN
fbem-11013	188	4	of	of	ADP
fbem-11013	188	5	market	market	NOUN
fbem-11013	188	6	mispricing	misprice	VERB
fbem-11013	188	7	through	through	ADP
fbem-11013	188	8	market	market	NOUN
fbem-11013	188	9	return	return	NOUN
fbem-11013	188	10	rate	rate	NOUN
fbem-11013	188	11	,	,	PUNCT
fbem-11013	188	12	the	the	DET
fbem-11013	188	13	utilized	utilize	VERB
fbem-11013	188	14	data	data	NOUN
fbem-11013	188	15	consists	consist	VERB
fbem-11013	188	16	of	of	ADP
fbem-11013	188	17	market	market	NOUN
fbem-11013	188	18	return	return	NOUN
fbem-11013	188	19	rate	rate	NOUN
fbem-11013	188	20	data	datum	NOUN
fbem-11013	188	21	accounting	account	VERB
fbem-11013	188	22	for	for	ADP
fbem-11013	188	23	reinvested	reinveste	VERB
fbem-11013	188	24	cash	cash	NOUN
fbem-11013	188	25	dividends	dividend	NOUN
fbem-11013	188	26	from	from	ADP
fbem-11013	188	27	the	the	DET
fbem-11013	188	28	china	china	PROPN
fbem-11013	188	29	stock	stock	NOUN
fbem-11013	188	30	market	market	PROPN
fbem-11013	188	31	and	and	CCONJ
fbem-11013	188	32	accounting	accounting	NOUN
fbem-11013	188	33	research	research	NOUN
fbem-11013	188	34	database	database	NOUN
fbem-11013	188	35	(	(	PUNCT
fbem-11013	188	36	csmar	csmar	PROPN
fbem-11013	188	37	)	)	PUNCT
fbem-11013	188	38	.	.	PUNCT
fbem-11013	189	1	within	within	ADP
fbem-11013	189	2	csmar	csmar	PROPN
fbem-11013	189	3	,	,	PUNCT
fbem-11013	189	4	three	three	NUM
fbem-11013	189	5	methods	method	NOUN
fbem-11013	189	6	are	be	AUX
fbem-11013	189	7	available	available	ADJ
fbem-11013	189	8	for	for	ADP
fbem-11013	189	9	calculating	calculate	VERB
fbem-11013	189	10	market	market	NOUN
fbem-11013	189	11	return	return	NOUN
fbem-11013	189	12	rates	rate	NOUN
fbem-11013	189	13	:	:	PUNCT
fbem-11013	189	14	equal	equal	ADJ
fbem-11013	189	15	-	-	PUNCT
fbem-11013	189	16	weighted	weight	VERB
fbem-11013	189	17	average	average	ADJ
fbem-11013	189	18	,	,	PUNCT
fbem-11013	189	19	circulating	circulate	VERB
fbem-11013	189	20	market	market	NOUN
fbem-11013	189	21	value	value	NOUN
fbem-11013	189	22	average	average	ADJ
fbem-11013	189	23	,	,	PUNCT
fbem-11013	189	24	and	and	CCONJ
fbem-11013	189	25	total	total	ADJ
fbem-11013	189	26	market	market	NOUN
fbem-11013	189	27	value	value	NOUN
fbem-11013	189	28	average	average	NOUN
fbem-11013	189	29	.	.	PUNCT
fbem-11013	190	1	first	first	ADV
fbem-11013	190	2	,	,	PUNCT
fbem-11013	190	3	the	the	DET
fbem-11013	190	4	annual	annual	ADJ
fbem-11013	190	5	average	average	ADJ
fbem-11013	190	6	daily	daily	ADJ
fbem-11013	190	7	market	market	NOUN
fbem-11013	190	8	return	return	NOUN
fbem-11013	190	9	rate	rate	NOUN
fbem-11013	190	10	for	for	ADP
fbem-11013	190	11	each	each	DET
fbem-11013	190	12	algorithm	algorithm	NOUN
fbem-11013	190	13	during	during	ADP
fbem-11013	190	14	the	the	DET
fbem-11013	190	15	sample	sample	NOUN
fbem-11013	190	16	period	period	NOUN
fbem-11013	190	17	is	be	AUX
fbem-11013	190	18	computed	compute	VERB
fbem-11013	190	19	based	base	VERB
fbem-11013	190	20	on	on	ADP
fbem-11013	190	21	the	the	DET
fbem-11013	190	22	daily	daily	ADJ
fbem-11013	190	23	market	market	NOUN
fbem-11013	190	24	return	return	NOUN
fbem-11013	190	25	rate	rate	NOUN
fbem-11013	190	26	data	datum	NOUN
fbem-11013	190	27	from	from	ADP
fbem-11013	190	28	the	the	DET
fbem-11013	190	29	three	three	NUM
fbem-11013	190	30	algorithms	algorithm	NOUN
fbem-11013	190	31	.	.	PUNCT
fbem-11013	191	1	subsequently	subsequently	ADV
fbem-11013	191	2	,	,	PUNCT
fbem-11013	191	3	the	the	DET
fbem-11013	191	4	annual	annual	ADJ
fbem-11013	191	5	average	average	ADJ
fbem-11013	191	6	market	market	NOUN
fbem-11013	191	7	return	return	NOUN
fbem-11013	191	8	rate	rate	NOUN
fbem-11013	191	9	is	be	AUX
fbem-11013	191	10	calculated	calculate	VERB
fbem-11013	191	11	using	use	VERB
fbem-11013	191	12	the	the	DET
fbem-11013	191	13	annual	annual	ADJ
fbem-11013	191	14	average	average	ADJ
fbem-11013	191	15	daily	daily	ADJ
fbem-11013	191	16	market	market	NOUN
fbem-11013	191	17	return	return	NOUN
fbem-11013	191	18	rates	rate	NOUN
fbem-11013	191	19	from	from	ADP
fbem-11013	191	20	the	the	DET
fbem-11013	191	21	three	three	NUM
fbem-11013	191	22	algorithms	algorithm	NOUN
fbem-11013	191	23	.	.	PUNCT
fbem-11013	192	1	lastly	lastly	ADV
fbem-11013	192	2	,	,	PUNCT
fbem-11013	192	3	the	the	DET
fbem-11013	192	4	average	average	ADJ
fbem-11013	192	5	market	market	NOUN
fbem-11013	192	6	return	return	NOUN
fbem-11013	192	7	rate	rate	NOUN
fbem-11013	192	8	for	for	ADP
fbem-11013	192	9	the	the	DET
fbem-11013	192	10	sample	sample	NOUN
fbem-11013	192	11	period	period	NOUN
fbem-11013	192	12	is	be	AUX
fbem-11013	192	13	determined	determine	VERB
fbem-11013	192	14	using	use	VERB
fbem-11013	192	15	the	the	DET
fbem-11013	192	16	annual	annual	ADJ
fbem-11013	192	17	average	average	ADJ
fbem-11013	192	18	market	market	NOUN
fbem-11013	192	19	return	return	NOUN
fbem-11013	192	20	rate	rate	NOUN
fbem-11013	192	21	.	.	PUNCT
fbem-11013	193	1	if	if	SCONJ
fbem-11013	193	2	the	the	DET
fbem-11013	193	3	average	average	ADJ
fbem-11013	193	4	market	market	NOUN
fbem-11013	193	5	return	return	NOUN
fbem-11013	193	6	rate	rate	NOUN
fbem-11013	193	7	for	for	ADP
fbem-11013	193	8	a	a	DET
fbem-11013	193	9	particular	particular	ADJ
fbem-11013	193	10	year	year	NOUN
fbem-11013	193	11	surpasses	surpass	VERB
fbem-11013	193	12	the	the	DET
fbem-11013	193	13	overall	overall	ADJ
fbem-11013	193	14	sample	sample	NOUN
fbem-11013	193	15	period	period	NOUN
fbem-11013	193	16	's	's	PART
fbem-11013	193	17	average	average	NOUN
fbem-11013	193	18	,	,	PUNCT
fbem-11013	193	19	that	that	DET
fbem-11013	193	20	year	year	NOUN
fbem-11013	193	21	is	be	AUX
fbem-11013	193	22	categorized	categorize	VERB
fbem-11013	193	23	as	as	ADP
fbem-11013	193	24	a	a	DET
fbem-11013	193	25	high	high	ADJ
fbem-11013	193	26	-	-	PUNCT
fbem-11013	193	27	valuation	valuation	NOUN
fbem-11013	193	28	market	market	NOUN
fbem-11013	193	29	;	;	PUNCT
fbem-11013	193	30	otherwise	otherwise	ADV
fbem-11013	193	31	,	,	PUNCT
fbem-11013	193	32	it	it	PRON
fbem-11013	193	33	is	be	AUX
fbem-11013	193	34	designated	designate	VERB
fbem-11013	193	35	as	as	ADP
fbem-11013	193	36	a	a	DET
fbem-11013	193	37	low	low	ADJ
fbem-11013	193	38	-	-	PUNCT
fbem-11013	193	39	valuation	valuation	NOUN
fbem-11013	193	40	market	market	NOUN
fbem-11013	193	41	.	.	PUNCT
fbem-11013	194	1	regarding	regard	VERB
fbem-11013	194	2	the	the	DET
fbem-11013	194	3	measurement	measurement	NOUN
fbem-11013	194	4	of	of	ADP
fbem-11013	194	5	market	market	NOUN
fbem-11013	194	6	mispricing	misprice	VERB
fbem-11013	194	7	via	via	ADP
fbem-11013	194	8	index	index	NOUN
fbem-11013	194	9	return	return	NOUN
fbem-11013	194	10	rate	rate	NOUN
fbem-11013	194	11	,	,	PUNCT
fbem-11013	194	12	this	this	DET
fbem-11013	194	13	study	study	NOUN
fbem-11013	194	14	employs	employ	VERB
fbem-11013	194	15	two	two	NUM
fbem-11013	194	16	types	type	NOUN
fbem-11013	194	17	of	of	ADP
fbem-11013	194	18	index	index	NOUN
fbem-11013	194	19	return	return	NOUN
fbem-11013	194	20	rates	rate	NOUN
fbem-11013	194	21	:	:	PUNCT
fbem-11013	194	22	the	the	DET
fbem-11013	194	23	simple	simple	ADJ
fbem-11013	194	24	arithmetic	arithmetic	ADJ
fbem-11013	194	25	average	average	ADJ
fbem-11013	194	26	daily	daily	ADJ
fbem-11013	194	27	index	index	NOUN
fbem-11013	194	28	return	return	NOUN
fbem-11013	194	29	rate	rate	NOUN
fbem-11013	194	30	of	of	ADP
fbem-11013	194	31	the	the	DET
fbem-11013	194	32	shanghai	shanghai	PROPN
fbem-11013	194	33	and	and	CCONJ
fbem-11013	194	34	shenzhen	shenzhen	PROPN
fbem-11013	194	35	stock	stock	NOUN
fbem-11013	194	36	markets	market	NOUN
fbem-11013	194	37	,	,	PUNCT
fbem-11013	194	38	and	and	CCONJ
fbem-11013	194	39	the	the	DET
fbem-11013	194	40	daily	daily	ADJ
fbem-11013	194	41	index	index	NOUN
fbem-11013	194	42	return	return	NOUN
fbem-11013	194	43	rate	rate	NOUN
fbem-11013	194	44	of	of	ADP
fbem-11013	194	45	the	the	DET
fbem-11013	194	46	china	china	PROPN
fbem-11013	194	47	securities	securities	PROPN
fbem-11013	194	48	index	index	NOUN
fbem-11013	194	49	300	300	NUM
fbem-11013	194	50	(	(	PUNCT
fbem-11013	194	51	csi300	csi300	PROPN
fbem-11013	194	52	)	)	PUNCT
fbem-11013	194	53	.	.	PUNCT
fbem-11013	195	1	these	these	DET
fbem-11013	195	2	index	index	NOUN
fbem-11013	195	3	return	return	NOUN
fbem-11013	195	4	rates	rate	NOUN
fbem-11013	195	5	are	be	AUX
fbem-11013	195	6	used	use	VERB
fbem-11013	195	7	to	to	PART
fbem-11013	195	8	categorize	categorize	VERB
fbem-11013	195	9	the	the	DET
fbem-11013	195	10	market	market	NOUN
fbem-11013	195	11	into	into	ADP
fbem-11013	195	12	highvaluation	highvaluation	NOUN
fbem-11013	195	13	and	and	CCONJ
fbem-11013	195	14	low	low	ADJ
fbem-11013	195	15	-	-	PUNCT
fbem-11013	195	16	valuation	valuation	NOUN
fbem-11013	195	17	segments	segment	NOUN
fbem-11013	195	18	.	.	PUNCT
fbem-11013	196	1	the	the	DET
fbem-11013	196	2	selection	selection	NOUN
fbem-11013	196	3	of	of	ADP
fbem-11013	196	4	the	the	DET
fbem-11013	196	5	csi	csi	ADJ
fbem-11013	196	6	300	300	NUM
fbem-11013	196	7	index	index	NOUN
fbem-11013	196	8	stems	stem	VERB
fbem-11013	196	9	from	from	ADP
fbem-11013	196	10	its	its	PRON
fbem-11013	196	11	representation	representation	NOUN
fbem-11013	196	12	of	of	ADP
fbem-11013	196	13	the	the	DET
fbem-11013	196	14	top	top	ADJ
fbem-11013	196	15	300	300	NUM
fbem-11013	196	16	stocks	stock	NOUN
fbem-11013	196	17	traded	trade	VERB
fbem-11013	196	18	on	on	ADP
fbem-11013	196	19	the	the	DET
fbem-11013	196	20	shanghai	shanghai	PROPN
fbem-11013	196	21	and	and	CCONJ
fbem-11013	196	22	shenzhen	shenzhen	PROPN
fbem-11013	196	23	stock	stock	NOUN
fbem-11013	196	24	markets	market	NOUN
fbem-11013	196	25	and	and	CCONJ
fbem-11013	196	26	its	its	PRON
fbem-11013	196	27	frequent	frequent	ADJ
fbem-11013	196	28	use	use	NOUN
fbem-11013	196	29	as	as	ADP
fbem-11013	196	30	a	a	DET
fbem-11013	196	31	benchmark	benchmark	NOUN
fbem-11013	196	32	for	for	ADP
fbem-11013	196	33	measuring	measure	VERB
fbem-11013	196	34	the	the	DET
fbem-11013	196	35	overall	overall	ADJ
fbem-11013	196	36	performance	performance	NOUN
fbem-11013	196	37	of	of	ADP
fbem-11013	196	38	the	the	DET
fbem-11013	196	39	chinese	chinese	ADJ
fbem-11013	196	40	stock	stock	NOUN
fbem-11013	196	41	market	market	NOUN
fbem-11013	196	42	[	[	X
fbem-11013	196	43	49	49	NUM
fbem-11013	196	44	]	]	PUNCT
fbem-11013	196	45	.	.	PUNCT
fbem-11013	197	1	the	the	DET
fbem-11013	197	2	division	division	NOUN
fbem-11013	197	3	method	method	NOUN
fbem-11013	197	4	aligns	align	VERB
fbem-11013	197	5	with	with	ADP
fbem-11013	197	6	that	that	PRON
fbem-11013	197	7	of	of	ADP
fbem-11013	197	8	the	the	DET
fbem-11013	197	9	market	market	NOUN
fbem-11013	197	10	return	return	NOUN
fbem-11013	197	11	rate	rate	NOUN
fbem-11013	197	12	division	division	NOUN
fbem-11013	197	13	method	method	NOUN
fbem-11013	197	14	.	.	PUNCT
fbem-11013	198	1	ultimately	ultimately	ADV
fbem-11013	198	2	,	,	PUNCT
fbem-11013	198	3	only	only	ADV
fbem-11013	198	4	when	when	SCONJ
fbem-11013	198	5	a	a	DET
fbem-11013	198	6	year	year	NOUN
fbem-11013	198	7	meets	meet	VERB
fbem-11013	198	8	the	the	DET
fbem-11013	198	9	criteria	criterion	NOUN
fbem-11013	198	10	for	for	ADP
fbem-11013	198	11	highvaluation	highvaluation	NOUN
fbem-11013	198	12	(	(	PUNCT
fbem-11013	198	13	or	or	CCONJ
fbem-11013	198	14	low	low	ADJ
fbem-11013	198	15	-	-	PUNCT
fbem-11013	198	16	valuation	valuation	NOUN
fbem-11013	198	17	)	)	PUNCT
fbem-11013	198	18	markets	market	NOUN
fbem-11013	198	19	as	as	ADP
fbem-11013	198	20	per	per	ADP
fbem-11013	198	21	both	both	CCONJ
fbem-11013	198	22	the	the	DET
fbem-11013	198	23	market	market	NOUN
fbem-11013	198	24	return	return	NOUN
fbem-11013	198	25	rate	rate	NOUN
fbem-11013	198	26	and	and	CCONJ
fbem-11013	198	27	index	index	NOUN
fbem-11013	198	28	return	return	NOUN
fbem-11013	198	29	rate	rate	NOUN
fbem-11013	198	30	divisions	division	NOUN
fbem-11013	198	31	,	,	PUNCT
fbem-11013	198	32	is	be	AUX
fbem-11013	198	33	it	it	PRON
fbem-11013	198	34	labeled	label	VERB
fbem-11013	198	35	as	as	ADP
fbem-11013	198	36	a	a	DET
fbem-11013	198	37	high	high	ADJ
fbem-11013	198	38	-	-	PUNCT
fbem-11013	198	39	valuation	valuation	NOUN
fbem-11013	198	40	market	market	NOUN
fbem-11013	198	41	(	(	PUNCT
fbem-11013	198	42	or	or	CCONJ
fbem-11013	198	43	low	low	ADJ
fbem-11013	198	44	-	-	PUNCT
fbem-11013	198	45	valuation	valuation	NOUN
fbem-11013	198	46	market	market	NOUN
fbem-11013	198	47	)	)	PUNCT
fbem-11013	198	48	.	.	PUNCT
fbem-11013	199	1	the	the	DET
fbem-11013	199	2	outcomes	outcome	NOUN
fbem-11013	199	3	of	of	ADP
fbem-11013	199	4	the	the	DET
fbem-11013	199	5	division	division	NOUN
fbem-11013	199	6	between	between	ADP
fbem-11013	199	7	high	high	ADJ
fbem-11013	199	8	-	-	PUNCT
fbem-11013	199	9	valuation	valuation	NOUN
fbem-11013	199	10	and	and	CCONJ
fbem-11013	199	11	lowvaluation	lowvaluation	PROPN
fbem-11013	199	12	markets	market	NOUN
fbem-11013	199	13	are	be	AUX
fbem-11013	199	14	presented	present	VERB
fbem-11013	199	15	in	in	ADP
fbem-11013	199	16	table	table	NOUN
fbem-11013	199	17	1	1	NUM
fbem-11013	199	18	.	.	PUNCT
fbem-11013	200	1	these	these	DET
fbem-11013	200	2	results	result	NOUN
fbem-11013	200	3	demonstrate	demonstrate	VERB
fbem-11013	200	4	that	that	SCONJ
fbem-11013	200	5	return	return	VERB
fbem-11013	200	6	rates	rate	NOUN
fbem-11013	200	7	during	during	ADP
fbem-11013	200	8	market	market	NOUN
fbem-11013	200	9	overvaluation	overvaluation	NOUN
fbem-11013	200	10	years	year	NOUN
fbem-11013	200	11	significantly	significantly	ADV
fbem-11013	200	12	surpass	surpass	VERB
fbem-11013	200	13	those	those	PRON
fbem-11013	200	14	during	during	ADP
fbem-11013	200	15	market	market	NOUN
fbem-11013	200	16	undervaluation	undervaluation	NOUN
fbem-11013	200	17	years	year	NOUN
fbem-11013	200	18	.	.	PUNCT
fbem-11013	201	1	this	this	PRON
fbem-11013	201	2	underscores	underscore	VERB
fbem-11013	201	3	the	the	DET
fbem-11013	201	4	rationality	rationality	NOUN
fbem-11013	201	5	behind	behind	ADP
fbem-11013	201	6	the	the	DET
fbem-11013	201	7	high	high	ADJ
fbem-11013	201	8	-	-	PUNCT
fbem-11013	201	9	valuation	valuation	NOUN
fbem-11013	201	10	and	and	CCONJ
fbem-11013	201	11	low	low	ADJ
fbem-11013	201	12	-	-	PUNCT
fbem-11013	201	13	valuation	valuation	NOUN
fbem-11013	201	14	market	market	NOUN
fbem-11013	201	15	classification	classification	NOUN
fbem-11013	201	16	adopted	adopt	VERB
fbem-11013	201	17	in	in	ADP
fbem-11013	201	18	this	this	DET
fbem-11013	201	19	study	study	NOUN
fbem-11013	201	20	.	.	PUNCT
fbem-11013	202	1	when	when	SCONJ
fbem-11013	202	2	the	the	DET
fbem-11013	202	3	market	market	NOUN
fbem-11013	202	4	is	be	AUX
fbem-11013	202	5	categorized	categorize	VERB
fbem-11013	202	6	as	as	ADP
fbem-11013	202	7	a	a	DET
fbem-11013	202	8	high	high	ADJ
fbem-11013	202	9	-	-	PUNCT
fbem-11013	202	10	valuation	valuation	NOUN
fbem-11013	202	11	market	market	NOUN
fbem-11013	202	12	,	,	PUNCT
fbem-11013	202	13	the	the	DET
fbem-11013	202	14	independent	independent	ADJ
fbem-11013	202	15	variable	variable	NOUN
fbem-11013	202	16	of	of	ADP
fbem-11013	202	17	market	market	NOUN
fbem-11013	202	18	mispricing	misprice	VERB
fbem-11013	202	19	timing	timing	NOUN
fbem-11013	202	20	is	be	AUX
fbem-11013	202	21	assigned	assign	VERB
fbem-11013	202	22	a	a	DET
fbem-11013	202	23	value	value	NOUN
fbem-11013	202	24	of	of	ADP
fbem-11013	202	25	1	1	NUM
fbem-11013	202	26	.	.	PUNCT
fbem-11013	203	1	conversely	conversely	ADV
fbem-11013	203	2	,	,	PUNCT
fbem-11013	203	3	in	in	ADP
fbem-11013	203	4	a	a	DET
fbem-11013	203	5	low	low	ADJ
fbem-11013	203	6	-	-	PUNCT
fbem-11013	203	7	valuation	valuation	NOUN
fbem-11013	203	8	market	market	NOUN
fbem-11013	203	9	,	,	PUNCT
fbem-11013	203	10	it	it	PRON
fbem-11013	203	11	receives	receive	VERB
fbem-11013	203	12	a	a	DET
fbem-11013	203	13	value	value	NOUN
fbem-11013	203	14	of	of	ADP
fbem-11013	203	15	0	0	NUM
fbem-11013	203	16	.	.	PUNCT
fbem-11013	204	1	the	the	DET
fbem-11013	204	2	calculation	calculation	NOUN
fbem-11013	204	3	results	result	NOUN
fbem-11013	204	4	show	show	VERB
fbem-11013	204	5	that	that	SCONJ
fbem-11013	204	6	2007	2007	NUM
fbem-11013	204	7	,	,	PUNCT
fbem-11013	204	8	2009	2009	NUM
fbem-11013	204	9	,	,	PUNCT
fbem-11013	204	10	2014	2014	NUM
fbem-11013	204	11	,	,	PUNCT
fbem-11013	204	12	and	and	CCONJ
fbem-11013	204	13	2019	2019	NUM
fbem-11013	204	14	are	be	AUX
fbem-11013	204	15	overestimated	overestimate	VERB
fbem-11013	204	16	years	year	NOUN
fbem-11013	204	17	,	,	PUNCT
fbem-11013	204	18	with	with	ADP
fbem-11013	204	19	a	a	DET
fbem-11013	204	20	value	value	NOUN
fbem-11013	204	21	of	of	ADP
fbem-11013	204	22	1	1	NUM
fbem-11013	204	23	assigned	assign	VERB
fbem-11013	204	24	.	.	PUNCT
fbem-11013	205	1	assign	assign	VERB
fbem-11013	205	2	a	a	DET
fbem-11013	205	3	value	value	NOUN
fbem-11013	205	4	of	of	ADP
fbem-11013	205	5	0	0	NUM
fbem-11013	205	6	to	to	ADP
fbem-11013	205	7	other	other	ADJ
fbem-11013	205	8	years	year	NOUN
fbem-11013	205	9	4.2.3	4.2.3	NUM
fbem-11013	205	10	.	.	PUNCT
fbem-11013	206	1	control	control	PROPN
fbem-11013	206	2	variable	variable	PROPN
fbem-11013	206	3	a	a	DET
fbem-11013	206	4	literature	literature	NOUN
fbem-11013	206	5	review	review	NOUN
fbem-11013	206	6	was	be	AUX
fbem-11013	206	7	conducted	conduct	VERB
fbem-11013	206	8	on	on	ADP
fbem-11013	206	9	the	the	DET
fbem-11013	206	10	factors	factor	NOUN
fbem-11013	206	11	influencing	influence	VERB
fbem-11013	206	12	post	post	ADJ
fbem-11013	206	13	-	-	ADJ
fbem-11013	206	14	acquisitions	acquisition	NOUN
fbem-11013	206	15	performance	performance	NOUN
fbem-11013	206	16	of	of	ADP
fbem-11013	206	17	acquiring	acquire	VERB
fbem-11013	206	18	firms	firm	NOUN
fbem-11013	206	19	in	in	ADP
fbem-11013	206	20	previous	previous	ADJ
fbem-11013	206	21	research	research	NOUN
fbem-11013	206	22	.	.	PUNCT
fbem-11013	207	1	it	it	PRON
fbem-11013	207	2	was	be	AUX
fbem-11013	207	3	found	find	VERB
fbem-11013	207	4	that	that	SCONJ
fbem-11013	207	5	the	the	DET
fbem-11013	207	6	significant	significant	ADJ
fbem-11013	207	7	factors	factor	NOUN
fbem-11013	207	8	affecting	affect	VERB
fbem-11013	207	9	performance	performance	NOUN
fbem-11013	207	10	can	can	AUX
fbem-11013	207	11	be	be	AUX
fbem-11013	207	12	categorized	categorize	VERB
fbem-11013	207	13	into	into	ADP
fbem-11013	207	14	three	three	NUM
fbem-11013	207	15	aspects	aspect	NOUN
fbem-11013	207	16	:	:	PUNCT
fbem-11013	207	17	firm	firm	ADJ
fbem-11013	207	18	characteristics	characteristic	NOUN
fbem-11013	207	19	,	,	PUNCT
fbem-11013	207	20	deal	deal	NOUN
fbem-11013	207	21	characteristics	characteristic	NOUN
fbem-11013	207	22	and	and	CCONJ
fbem-11013	207	23	environmental	environmental	ADJ
fbem-11013	207	24	characteristics	characteristic	NOUN
fbem-11013	207	25	.	.	PUNCT
fbem-11013	208	1	therefore	therefore	ADV
fbem-11013	208	2	,	,	PUNCT
fbem-11013	208	3	to	to	PART
fbem-11013	208	4	address	address	VERB
fbem-11013	208	5	the	the	DET
fbem-11013	208	6	endogeneity	endogeneity	NOUN
fbem-11013	208	7	issues	issue	NOUN
fbem-11013	208	8	arising	arise	VERB
fbem-11013	208	9	from	from	ADP
fbem-11013	208	10	omitted	omit	VERB
fbem-11013	208	11	variables	variable	NOUN
fbem-11013	208	12	and	and	CCONJ
fbem-11013	208	13	to	to	PART
fbem-11013	208	14	mitigate	mitigate	VERB
fbem-11013	208	15	potentially	potentially	ADV
fbem-11013	208	16	confounding	confound	VERB
fbem-11013	208	17	factors	factor	NOUN
fbem-11013	208	18	known	know	VERB
fbem-11013	208	19	to	to	PART
fbem-11013	208	20	affect	affect	VERB
fbem-11013	208	21	the	the	DET
fbem-11013	208	22	acquisition	acquisition	NOUN
fbem-11013	208	23	performance	performance	NOUN
fbem-11013	208	24	,	,	PUNCT
fbem-11013	208	25	this	this	DET
fbem-11013	208	26	study	study	NOUN
fbem-11013	208	27	incorporates	incorporate	VERB
fbem-11013	208	28	15	15	NUM
fbem-11013	208	29	control	control	NOUN
fbem-11013	208	30	variables	variable	NOUN
fbem-11013	208	31	into	into	ADP
fbem-11013	208	32	the	the	DET
fbem-11013	208	33	regression	regression	NOUN
fbem-11013	208	34	model	model	NOUN
fbem-11013	208	35	from	from	ADP
fbem-11013	208	36	these	these	DET
fbem-11013	208	37	three	three	NUM
fbem-11013	208	38	aspects	aspect	NOUN
fbem-11013	208	39	.	.	PUNCT
fbem-11013	209	1	firm	firm	ADJ
fbem-11013	209	2	characteristics	characteristics	PROPN
fbem-11013	209	3	control	control	NOUN
fbem-11013	209	4	variables	variable	NOUN
fbem-11013	209	5	include	include	VERB
fbem-11013	209	6	firm	firm	ADJ
fbem-11013	209	7	size	size	NOUN
fbem-11013	209	8	,	,	PUNCT
fbem-11013	209	9	financial	financial	ADJ
fbem-11013	209	10	leverage	leverage	NOUN
fbem-11013	209	11	,	,	PUNCT
fbem-11013	209	12	profitability	profitability	NOUN
fbem-11013	209	13	,	,	PUNCT
fbem-11013	209	14	sales	sale	NOUN
fbem-11013	209	15	growth	growth	NOUN
fbem-11013	209	16	,	,	PUNCT
fbem-11013	209	17	cash	cash	NOUN
fbem-11013	209	18	flow	flow	NOUN
fbem-11013	209	19	,	,	PUNCT
fbem-11013	209	20	firm	firm	ADJ
fbem-11013	209	21	age	age	NOUN
fbem-11013	209	22	,	,	PUNCT
fbem-11013	209	23	equity	equity	NOUN
fbem-11013	209	24	nature	nature	NOUN
fbem-11013	209	25	,	,	PUNCT
fbem-11013	209	26	proportion	proportion	NOUN
fbem-11013	209	27	of	of	ADP
fbem-11013	209	28	the	the	DET
fbem-11013	209	29	largest	large	ADJ
fbem-11013	209	30	shareholder	shareholder	NOUN
fbem-11013	209	31	,	,	PUNCT
fbem-11013	209	32	ceo	ceo	NOUN
fbem-11013	209	33	duality	duality	NOUN
fbem-11013	209	34	,	,	PUNCT
fbem-11013	209	35	proportion	proportion	NOUN
fbem-11013	209	36	of	of	ADP
fbem-11013	209	37	independent	independent	ADJ
fbem-11013	209	38	directors	director	NOUN
fbem-11013	209	39	,	,	PUNCT
fbem-11013	209	40	and	and	CCONJ
fbem-11013	209	41	executive	executive	ADJ
fbem-11013	209	42	overconfidence	overconfidence	NOUN
fbem-11013	209	43	;	;	PUNCT
fbem-11013	209	44	transaction	transaction	NOUN
fbem-11013	209	45	characteristics	characteristic	NOUN
fbem-11013	209	46	control	control	NOUN
fbem-11013	209	47	variables	variable	NOUN
fbem-11013	209	48	include	include	VERB
fbem-11013	209	49	relative	relative	ADJ
fbem-11013	209	50	deal	deal	NOUN
fbem-11013	209	51	size	size	NOUN
fbem-11013	209	52	,	,	PUNCT
fbem-11013	209	53	transaction	transaction	NOUN
fbem-11013	209	54	type	type	NOUN
fbem-11013	209	55	,	,	PUNCT
fbem-11013	209	56	and	and	CCONJ
fbem-11013	209	57	related	relate	VERB
fbem-11013	209	58	-	-	PUNCT
fbem-11013	209	59	party	party	NOUN
fbem-11013	209	60	transaction	transaction	NOUN
fbem-11013	209	61	;	;	PUNCT
fbem-11013	209	62	environmental	environmental	ADJ
fbem-11013	209	63	characteristics	characteristic	NOUN
fbem-11013	209	64	control	control	NOUN
fbem-11013	209	65	variables	variable	NOUN
fbem-11013	209	66	include	include	VERB
fbem-11013	209	67	stock	stock	NOUN
fbem-11013	209	68	volatility	volatility	NOUN
fbem-11013	209	69	.	.	PUNCT
fbem-11013	210	1	the	the	DET
fbem-11013	210	2	specific	specific	ADJ
fbem-11013	210	3	calculation	calculation	NOUN
fbem-11013	210	4	method	method	NOUN
fbem-11013	210	5	for	for	ADP
fbem-11013	210	6	variables	variable	NOUN
fbem-11013	210	7	is	be	AUX
fbem-11013	210	8	shown	show	VERB
fbem-11013	210	9	in	in	ADP
fbem-11013	210	10	table	table	NOUN
fbem-11013	210	11	1	1	NUM
fbem-11013	210	12	.	.	X
fbem-11013	210	13	4.3	4.3	NUM
fbem-11013	210	14	.	.	PUNCT
fbem-11013	210	15	research	research	NOUN
fbem-11013	210	16	model	model	NOUN
fbem-11013	210	17	development	development	NOUN
fbem-11013	210	18	in	in	ADP
fbem-11013	210	19	order	order	NOUN
fbem-11013	210	20	to	to	PART
fbem-11013	210	21	achieve	achieve	VERB
fbem-11013	210	22	the	the	DET
fbem-11013	210	23	research	research	NOUN
fbem-11013	210	24	goal	goal	NOUN
fbem-11013	210	25	of	of	ADP
fbem-11013	210	26	testing	test	VERB
fbem-11013	210	27	the	the	DET
fbem-11013	210	28	impact	impact	NOUN
fbem-11013	210	29	of	of	ADP
fbem-11013	210	30	market	market	NOUN
fbem-11013	210	31	mispricing	misprice	VERB
fbem-11013	210	32	timing	timing	NOUN
fbem-11013	210	33	on	on	ADP
fbem-11013	210	34	post	post	ADJ
fbem-11013	210	35	-	-	ADJ
fbem-11013	210	36	acquisition	acquisition	NOUN
fbem-11013	210	37	performance	performance	NOUN
fbem-11013	210	38	,	,	PUNCT
fbem-11013	210	39	this	this	DET
fbem-11013	210	40	study	study	NOUN
fbem-11013	210	41	establishes	establish	VERB
fbem-11013	210	42	the	the	DET
fbem-11013	210	43	following	follow	VERB
fbem-11013	210	44	ols	ol	NOUN
fbem-11013	210	45	regression	regression	NOUN
fbem-11013	210	46	model	model	NOUN
fbem-11013	210	47	to	to	PART
fbem-11013	210	48	test	test	NOUN
fbem-11013	210	49	hypothesis	hypothesis	NOUN
fbem-11013	210	50	.	.	PUNCT
fbem-11013	211	1	𝐶𝐴𝑅	𝐶𝐴𝑅	PROPN
fbem-11013	211	2	,	,	PUNCT
fbem-11013	211	3	𝛽	𝛽	DET
fbem-11013	211	4	𝛽	𝛽	PROPN
fbem-11013	211	5	𝑀𝑀𝑇	𝑀𝑀𝑇	PROPN
fbem-11013	211	6	,	,	PUNCT
fbem-11013	211	7	∑	∑	ADP
fbem-11013	211	8	𝛽	𝛽	PROPN
fbem-11013	211	9	𝐶𝑜𝑛𝑡𝑟𝑜𝑙𝑉𝑎𝑟𝑖𝑎𝑏𝑙𝑒𝑠	𝐶𝑜𝑛𝑡𝑟𝑜𝑙𝑉𝑎𝑟𝑖𝑎𝑏𝑙𝑒𝑠	PROPN
fbem-11013	211	10	,	,	PUNCT
fbem-11013	211	11	𝜆	𝜆	PRON
fbem-11013	211	12	𝜆	𝜆	PRON
fbem-11013	211	13	𝜀	𝜀	X
fbem-11013	211	14	(	(	PUNCT
fbem-11013	211	15	9	9	NUM
fbem-11013	211	16	)	)	PUNCT
fbem-11013	211	17	𝐵𝐻𝐴𝑅	𝐵𝐻𝐴𝑅	NOUN
fbem-11013	211	18	,	,	PUNCT
fbem-11013	211	19	𝛽	𝛽	PROPN
fbem-11013	211	20	𝛽	𝛽	PROPN
fbem-11013	211	21	𝑀𝑀𝑇	𝑀𝑀𝑇	PROPN
fbem-11013	211	22	,	,	PUNCT
fbem-11013	211	23	∑	∑	ADP
fbem-11013	211	24	𝛽	𝛽	PROPN
fbem-11013	211	25	𝐶𝑜𝑛𝑡𝑟𝑜𝑙𝑉𝑎𝑟𝑖𝑎𝑏𝑙𝑒𝑠	𝐶𝑜𝑛𝑡𝑟𝑜𝑙𝑉𝑎𝑟𝑖𝑎𝑏𝑙𝑒𝑠	PROPN
fbem-11013	211	26	,	,	PUNCT
fbem-11013	211	27	𝜆	𝜆	PRON
fbem-11013	211	28	𝜆	𝜆	DET
fbem-11013	211	29	𝜀	𝜀	X
fbem-11013	211	30	(	(	PUNCT
fbem-11013	211	31	10	10	NUM
fbem-11013	211	32	)	)	PUNCT
fbem-11013	211	33	∆𝑅𝑂𝐴	∆𝑅𝑂𝐴	PROPN
fbem-11013	211	34	,	,	PUNCT
fbem-11013	211	35	𝛽	𝛽	NOUN
fbem-11013	211	36	𝛽	𝛽	PROPN
fbem-11013	211	37	𝑀𝑀𝑇	𝑀𝑀𝑇	PROPN
fbem-11013	211	38	,	,	PUNCT
fbem-11013	211	39	∑	∑	ADP
fbem-11013	211	40	𝛽	𝛽	NOUN
fbem-11013	211	41	𝐶𝑜𝑛𝑡𝑟𝑜𝑙𝑉𝑎𝑟𝑖𝑎𝑏𝑙𝑒𝑠2	𝐶𝑜𝑛𝑡𝑟𝑜𝑙𝑉𝑎𝑟𝑖𝑎𝑏𝑙𝑒𝑠2	NOUN
fbem-11013	211	42	,	,	PUNCT
fbem-11013	211	43	𝜆	𝜆	PRON
fbem-11013	211	44	𝜆	𝜆	DET
fbem-11013	211	45	𝜀	𝜀	X
fbem-11013	211	46	(	(	PUNCT
fbem-11013	211	47	11	11	NUM
fbem-11013	211	48	)	)	PUNCT
fbem-11013	211	49	where	where	SCONJ
fbem-11013	211	50	λk	λk	NOUN
fbem-11013	211	51	and	and	CCONJ
fbem-11013	211	52	λt	λt	AUX
fbem-11013	211	53	represent	represent	VERB
fbem-11013	211	54	industry	industry	NOUN
fbem-11013	211	55	and	and	CCONJ
fbem-11013	211	56	quarterly	quarterly	ADJ
fbem-11013	211	57	fixed	fix	VERB
fbem-11013	211	58	effects	effect	NOUN
fbem-11013	211	59	respectively	respectively	ADV
fbem-11013	211	60	.	.	PUNCT
fbem-11013	212	1	β0	β0	PROPN
fbem-11013	212	2	represents	represent	VERB
fbem-11013	212	3	the	the	DET
fbem-11013	212	4	constant	constant	ADJ
fbem-11013	212	5	and	and	CCONJ
fbem-11013	212	6	is	be	AUX
fbem-11013	212	7	the	the	DET
fbem-11013	212	8	slope	slope	NOUN
fbem-11013	212	9	of	of	ADP
fbem-11013	212	10	the	the	DET
fbem-11013	212	11	independent	independent	ADJ
fbem-11013	212	12	variable	variable	NOUN
fbem-11013	212	13	which	which	PRON
fbem-11013	212	14	reflects	reflect	VERB
fbem-11013	212	15	a	a	DET
fbem-11013	212	16	partial	partial	ADJ
fbem-11013	212	17	explanation	explanation	NOUN
fbem-11013	212	18	or	or	CCONJ
fbem-11013	212	19	prediction	prediction	NOUN
fbem-11013	212	20	for	for	ADP
fbem-11013	212	21	the	the	DET
fbem-11013	212	22	value	value	NOUN
fbem-11013	212	23	of	of	ADP
fbem-11013	212	24	the	the	DET
fbem-11013	212	25	dependent	dependent	ADJ
fbem-11013	212	26	variable	variable	NOUN
fbem-11013	212	27	.	.	PUNCT
fbem-11013	213	1	β	β	X
fbem-11013	213	2	is	be	AUX
fbem-11013	213	3	the	the	DET
fbem-11013	213	4	coefficient	coefficient	NOUN
fbem-11013	213	5	of	of	ADP
fbem-11013	213	6	the	the	DET
fbem-11013	213	7	independent	independent	ADJ
fbem-11013	213	8	variable	variable	NOUN
fbem-11013	213	9	and	and	CCONJ
fbem-11013	213	10	ɛ	ɛ	PROPN
fbem-11013	213	11	is	be	AUX
fbem-11013	213	12	an	an	DET
fbem-11013	213	13	error	error	NOUN
fbem-11013	213	14	term	term	NOUN
fbem-11013	213	15	.	.	PUNCT
fbem-11013	214	1	254	254	NUM
fbem-11013	214	2	table	table	NOUN
fbem-11013	214	3	1	1	NUM
fbem-11013	214	4	.	.	PUNCT
fbem-11013	214	5	definition	definition	NOUN
fbem-11013	214	6	of	of	ADP
fbem-11013	214	7	variables	variable	NOUN
fbem-11013	214	8	variable	variable	ADJ
fbem-11013	214	9	name	name	NOUN
fbem-11013	214	10	symbol	symbol	NOUN
fbem-11013	214	11	measurement	measurement	NOUN
fbem-11013	214	12	dependent	dependent	ADJ
fbem-11013	214	13	variable	variable	ADJ
fbem-11013	214	14	short	short	ADJ
fbem-11013	214	15	-	-	PUNCT
fbem-11013	214	16	term	term	NOUN
fbem-11013	214	17	stock	stock	NOUN
fbem-11013	214	18	market	market	NOUN
fbem-11013	214	19	performance	performance	NOUN
fbem-11013	214	20	car(-2,2	car(-2,2	PROPN
fbem-11013	214	21	)	)	PUNCT
fbem-11013	214	22	car(-5,5	car(-5,5	PROPN
fbem-11013	214	23	)	)	PUNCT
fbem-11013	215	1	the	the	DET
fbem-11013	215	2	acquirer	acquirer	NOUN
fbem-11013	215	3	's	's	PART
fbem-11013	215	4	cumulative	cumulative	ADJ
fbem-11013	215	5	abnormal	abnormal	ADJ
fbem-11013	215	6	return	return	NOUN
fbem-11013	215	7	during	during	ADP
fbem-11013	215	8	the	the	DET
fbem-11013	215	9	[	[	X
fbem-11013	215	10	-2,2	-2,2	NOUN
fbem-11013	215	11	]	]	X
fbem-11013	215	12	and	and	CCONJ
fbem-11013	215	13	[	[	X
fbem-11013	215	14	5,5	5,5	NUM
fbem-11013	215	15	]	]	PUNCT
fbem-11013	215	16	window	window	NOUN
fbem-11013	215	17	period	period	NOUN
fbem-11013	215	18	before	before	ADV
fbem-11013	215	19	and	and	CCONJ
fbem-11013	215	20	after	after	ADP
fbem-11013	215	21	the	the	DET
fbem-11013	215	22	merger	merger	NOUN
fbem-11013	215	23	and	and	CCONJ
fbem-11013	215	24	acquisition	acquisition	NOUN
fbem-11013	215	25	announcement	announcement	NOUN
fbem-11013	215	26	.	.	PUNCT
fbem-11013	216	1	long	long	ADJ
fbem-11013	216	2	-	-	PUNCT
fbem-11013	216	3	term	term	NOUN
fbem-11013	216	4	stock	stock	NOUN
fbem-11013	216	5	market	market	NOUN
fbem-11013	216	6	performance	performance	NOUN
fbem-11013	216	7	bhar12	bhar12	PROPN
fbem-11013	216	8	bhar24	bhar24	PROPN
fbem-11013	216	9	bhar36	bhar36	NOUN
fbem-11013	216	10	the	the	DET
fbem-11013	216	11	acquirer	acquirer	NOUN
fbem-11013	216	12	's	's	PART
fbem-11013	216	13	buy	buy	NOUN
fbem-11013	216	14	-	-	PUNCT
fbem-11013	216	15	and	and	CCONJ
fbem-11013	216	16	-	-	PUNCT
fbem-11013	216	17	hold	hold	VERB
fbem-11013	216	18	abnormal	abnormal	ADJ
fbem-11013	216	19	return	return	NOUN
fbem-11013	216	20	for	for	ADP
fbem-11013	216	21	the	the	DET
fbem-11013	216	22	period	period	NOUN
fbem-11013	216	23	of	of	ADP
fbem-11013	216	24	12	12	NUM
fbem-11013	216	25	，	，	PUNCT
fbem-11013	216	26	24,36	24,36	NUM
fbem-11013	216	27	months	month	NOUN
fbem-11013	216	28	following	follow	VERB
fbem-11013	216	29	the	the	DET
fbem-11013	216	30	acquisition	acquisition	NOUN
fbem-11013	216	31	.	.	PUNCT
fbem-11013	217	1	financial	financial	ADJ
fbem-11013	217	2	performance	performance	NOUN
fbem-11013	217	3	δroa1	δroa1	NOUN
fbem-11013	217	4	δroa2	δroa2	NOUN
fbem-11013	218	1	δroa3	δroa3	NOUN
fbem-11013	218	2	changes	change	VERB
fbem-11013	218	3	in	in	ADP
fbem-11013	218	4	return	return	NOUN
fbem-11013	218	5	on	on	ADP
fbem-11013	218	6	total	total	ADJ
fbem-11013	218	7	assets	asset	NOUN
fbem-11013	218	8	for	for	ADP
fbem-11013	218	9	the	the	DET
fbem-11013	218	10	acquirer	acquirer	NOUN
fbem-11013	218	11	between	between	ADP
fbem-11013	218	12	the	the	DET
fbem-11013	218	13	first	first	ADJ
fbem-11013	218	14	year	year	NOUN
fbem-11013	218	15	after	after	ADP
fbem-11013	218	16	the	the	DET
fbem-11013	218	17	merger	merger	NOUN
fbem-11013	218	18	and	and	CCONJ
fbem-11013	218	19	acquisition	acquisition	NOUN
fbem-11013	218	20	announcement	announcement	NOUN
fbem-11013	218	21	date	date	NOUN
fbem-11013	218	22	and	and	CCONJ
fbem-11013	218	23	the	the	DET
fbem-11013	218	24	preceding	precede	VERB
fbem-11013	218	25	year	year	NOUN
fbem-11013	218	26	.	.	PUNCT
fbem-11013	219	1	independent	independent	ADJ
fbem-11013	219	2	variable	variable	ADJ
fbem-11013	219	3	market	market	NOUN
fbem-11013	219	4	mispricing	misprice	VERB
fbem-11013	219	5	timing	timing	NOUN
fbem-11013	219	6	mmt	mmt	NOUN
fbem-11013	219	7	if	if	SCONJ
fbem-11013	219	8	the	the	DET
fbem-11013	219	9	market	market	NOUN
fbem-11013	219	10	return	return	NOUN
fbem-11013	219	11	rate	rate	NOUN
fbem-11013	219	12	and	and	CCONJ
fbem-11013	219	13	index	index	NOUN
fbem-11013	219	14	return	return	NOUN
fbem-11013	219	15	rate	rate	NOUN
fbem-11013	219	16	in	in	ADP
fbem-11013	219	17	the	the	DET
fbem-11013	219	18	year	year	NOUN
fbem-11013	219	19	to	to	PART
fbem-11013	219	20	which	which	PRON
fbem-11013	219	21	the	the	DET
fbem-11013	219	22	merger	merger	NOUN
fbem-11013	219	23	and	and	CCONJ
fbem-11013	219	24	acquisition	acquisition	NOUN
fbem-11013	219	25	announcement	announcement	NOUN
fbem-11013	219	26	date	date	NOUN
fbem-11013	219	27	belongs	belong	VERB
fbem-11013	219	28	are	be	AUX
fbem-11013	219	29	both	both	ADV
fbem-11013	219	30	higher	high	ADJ
fbem-11013	219	31	than	than	ADP
fbem-11013	219	32	the	the	DET
fbem-11013	219	33	average	average	NOUN
fbem-11013	219	34	of	of	ADP
fbem-11013	219	35	the	the	DET
fbem-11013	219	36	entire	entire	ADJ
fbem-11013	219	37	sample	sample	NOUN
fbem-11013	219	38	period	period	NOUN
fbem-11013	219	39	,	,	PUNCT
fbem-11013	219	40	that	that	DET
fbem-11013	219	41	year	year	NOUN
fbem-11013	219	42	is	be	AUX
fbem-11013	219	43	defined	define	VERB
fbem-11013	219	44	as	as	ADP
fbem-11013	219	45	a	a	DET
fbem-11013	219	46	period	period	NOUN
fbem-11013	219	47	of	of	ADP
fbem-11013	219	48	market	market	NOUN
fbem-11013	219	49	overvaluation	overvaluation	NOUN
fbem-11013	219	50	and	and	CCONJ
fbem-11013	219	51	assigned	assign	VERB
fbem-11013	219	52	a	a	DET
fbem-11013	219	53	value	value	NOUN
fbem-11013	219	54	of	of	ADP
fbem-11013	219	55	1	1	NUM
fbem-11013	219	56	.	.	PUNCT
fbem-11013	220	1	otherwise	otherwise	ADV
fbem-11013	220	2	,	,	PUNCT
fbem-11013	220	3	it	it	PRON
fbem-11013	220	4	is	be	AUX
fbem-11013	220	5	assigned	assign	VERB
fbem-11013	220	6	a	a	DET
fbem-11013	220	7	value	value	NOUN
fbem-11013	220	8	of	of	ADP
fbem-11013	220	9	0	0	NUM
fbem-11013	220	10	.	.	PUNCT
fbem-11013	221	1	control	control	PROPN
fbem-11013	221	2	variables	variable	NOUN
fbem-11013	221	3	firm	firm	ADJ
fbem-11013	221	4	size	size	NOUN
fbem-11013	221	5	size	size	NOUN
fbem-11013	221	6	the	the	DET
fbem-11013	221	7	natural	natural	ADJ
fbem-11013	221	8	logarithm	logarithm	NOUN
fbem-11013	221	9	of	of	ADP
fbem-11013	221	10	the	the	DET
fbem-11013	221	11	book	book	NOUN
fbem-11013	221	12	value	value	NOUN
fbem-11013	221	13	of	of	ADP
fbem-11013	221	14	total	total	ADJ
fbem-11013	221	15	assets	asset	NOUN
fbem-11013	221	16	at	at	ADP
fbem-11013	221	17	the	the	DET
fbem-11013	221	18	end	end	NOUN
fbem-11013	221	19	of	of	ADP
fbem-11013	221	20	the	the	DET
fbem-11013	221	21	fiscal	fiscal	ADJ
fbem-11013	221	22	year	year	NOUN
fbem-11013	221	23	prior	prior	ADV
fbem-11013	221	24	to	to	ADP
fbem-11013	221	25	the	the	DET
fbem-11013	221	26	acquisition	acquisition	NOUN
fbem-11013	221	27	announcement	announcement	NOUN
fbem-11013	221	28	date	date	NOUN
fbem-11013	221	29	.	.	PUNCT
fbem-11013	222	1	financial	financial	ADJ
fbem-11013	222	2	leverage	leverage	NOUN
fbem-11013	222	3	leverage	leverage	NOUN
fbem-11013	222	4	total	total	ADJ
fbem-11013	222	5	debt	debt	NOUN
fbem-11013	222	6	divided	divide	VERB
fbem-11013	222	7	by	by	ADP
fbem-11013	222	8	book	book	NOUN
fbem-11013	222	9	value	value	NOUN
fbem-11013	222	10	of	of	ADP
fbem-11013	222	11	assets	asset	NOUN
fbem-11013	222	12	at	at	ADP
fbem-11013	222	13	the	the	DET
fbem-11013	222	14	end	end	NOUN
fbem-11013	222	15	of	of	ADP
fbem-11013	222	16	the	the	DET
fbem-11013	222	17	fiscal	fiscal	ADJ
fbem-11013	222	18	year	year	NOUN
fbem-11013	222	19	prior	prior	ADV
fbem-11013	222	20	to	to	ADP
fbem-11013	222	21	the	the	DET
fbem-11013	222	22	acquisition	acquisition	NOUN
fbem-11013	222	23	announcement	announcement	NOUN
fbem-11013	222	24	date	date	NOUN
fbem-11013	222	25	.	.	PUNCT
fbem-11013	223	1	profitability	profitability	NOUN
fbem-11013	223	2	roe	roe	PROPN
fbem-11013	223	3	net	net	ADJ
fbem-11013	223	4	income	income	NOUN
fbem-11013	223	5	divided	divide	VERB
fbem-11013	223	6	by	by	ADP
fbem-11013	223	7	total	total	ADJ
fbem-11013	223	8	equity	equity	NOUN
fbem-11013	223	9	at	at	ADP
fbem-11013	223	10	the	the	DET
fbem-11013	223	11	end	end	NOUN
fbem-11013	223	12	of	of	ADP
fbem-11013	223	13	the	the	DET
fbem-11013	223	14	fiscal	fiscal	ADJ
fbem-11013	223	15	year	year	NOUN
fbem-11013	223	16	prior	prior	ADV
fbem-11013	223	17	to	to	ADP
fbem-11013	223	18	the	the	DET
fbem-11013	223	19	acquisition	acquisition	NOUN
fbem-11013	223	20	announcement	announcement	NOUN
fbem-11013	223	21	date	date	NOUN
fbem-11013	223	22	.	.	PUNCT
fbem-11013	224	1	sales	sale	NOUN
fbem-11013	224	2	growth	growth	NOUN
fbem-11013	224	3	growth	growth	VERB
fbem-11013	224	4	the	the	DET
fbem-11013	224	5	difference	difference	NOUN
fbem-11013	224	6	between	between	ADP
fbem-11013	224	7	the	the	DET
fbem-11013	224	8	current	current	ADJ
fbem-11013	224	9	year	year	NOUN
fbem-11013	224	10	's	's	PART
fbem-11013	224	11	main	main	ADJ
fbem-11013	224	12	operating	operating	NOUN
fbem-11013	224	13	revenue	revenue	NOUN
fbem-11013	224	14	and	and	CCONJ
fbem-11013	224	15	the	the	DET
fbem-11013	224	16	previous	previous	ADJ
fbem-11013	224	17	year	year	NOUN
fbem-11013	224	18	's	's	PART
fbem-11013	224	19	main	main	ADJ
fbem-11013	224	20	operating	operating	NOUN
fbem-11013	224	21	revenue	revenue	NOUN
fbem-11013	224	22	is	be	AUX
fbem-11013	224	23	divided	divide	VERB
fbem-11013	224	24	by	by	ADP
fbem-11013	224	25	the	the	DET
fbem-11013	224	26	previous	previous	ADJ
fbem-11013	224	27	year	year	NOUN
fbem-11013	224	28	's	's	PART
fbem-11013	224	29	main	main	ADJ
fbem-11013	224	30	operating	operating	NOUN
fbem-11013	224	31	revenue	revenue	NOUN
fbem-11013	224	32	.	.	PUNCT
fbem-11013	225	1	cash	cash	NOUN
fbem-11013	225	2	flow	flow	NOUN
fbem-11013	225	3	cash	cash	NOUN
fbem-11013	225	4	net	net	ADJ
fbem-11013	225	5	cash	cash	NOUN
fbem-11013	225	6	flow	flow	NOUN
fbem-11013	225	7	from	from	ADP
fbem-11013	225	8	operating	operate	VERB
fbem-11013	225	9	activities	activity	NOUN
fbem-11013	225	10	divided	divide	VERB
fbem-11013	225	11	by	by	ADP
fbem-11013	225	12	total	total	ADJ
fbem-11013	225	13	debt	debt	NOUN
fbem-11013	225	14	at	at	ADP
fbem-11013	225	15	the	the	DET
fbem-11013	225	16	end	end	NOUN
fbem-11013	225	17	of	of	ADP
fbem-11013	225	18	the	the	DET
fbem-11013	225	19	fiscal	fiscal	ADJ
fbem-11013	225	20	year	year	NOUN
fbem-11013	225	21	prior	prior	ADV
fbem-11013	225	22	to	to	ADP
fbem-11013	225	23	the	the	DET
fbem-11013	225	24	acquisition	acquisition	NOUN
fbem-11013	225	25	announcement	announcement	NOUN
fbem-11013	225	26	date	date	NOUN
fbem-11013	225	27	.	.	PUNCT
fbem-11013	226	1	firm	firm	ADJ
fbem-11013	226	2	age	age	NOUN
fbem-11013	226	3	age	age	NOUN
fbem-11013	226	4	the	the	DET
fbem-11013	226	5	difference	difference	NOUN
fbem-11013	226	6	between	between	ADP
fbem-11013	226	7	the	the	DET
fbem-11013	226	8	current	current	ADJ
fbem-11013	226	9	year	year	NOUN
fbem-11013	226	10	and	and	CCONJ
fbem-11013	226	11	the	the	DET
fbem-11013	226	12	year	year	NOUN
fbem-11013	226	13	of	of	ADP
fbem-11013	226	14	establishment	establishment	NOUN
fbem-11013	226	15	,	,	PUNCT
fbem-11013	226	16	plus	plus	CCONJ
fbem-11013	226	17	one	one	NUM
fbem-11013	226	18	,	,	PUNCT
fbem-11013	226	19	and	and	CCONJ
fbem-11013	226	20	then	then	ADV
fbem-11013	226	21	taking	take	VERB
fbem-11013	226	22	the	the	DET
fbem-11013	226	23	natural	natural	ADJ
fbem-11013	226	24	logarithm	logarithm	NOUN
fbem-11013	226	25	of	of	ADP
fbem-11013	226	26	that	that	DET
fbem-11013	226	27	value	value	NOUN
fbem-11013	226	28	.	.	PUNCT
fbem-11013	227	1	equity	equity	NOUN
fbem-11013	227	2	nature	nature	PROPN
fbem-11013	227	3	nature	nature	PROPN
fbem-11013	227	4	dummy	dummy	ADJ
fbem-11013	227	5	variable	variable	NOUN
fbem-11013	227	6	equal	equal	ADJ
fbem-11013	227	7	to	to	ADP
fbem-11013	227	8	one	one	NUM
fbem-11013	227	9	if	if	SCONJ
fbem-11013	227	10	the	the	DET
fbem-11013	227	11	firm	firm	NOUN
fbem-11013	227	12	is	be	AUX
fbem-11013	227	13	non	non	ADJ
fbem-11013	227	14	-	-	ADJ
fbem-11013	227	15	state	state	NOUN
fbem-11013	227	16	-	-	PUNCT
fbem-11013	227	17	owned	own	VERB
fbem-11013	227	18	at	at	ADP
fbem-11013	227	19	the	the	DET
fbem-11013	227	20	m&a	m&a	PROPN
fbem-11013	227	21	announcement	announcement	NOUN
fbem-11013	227	22	date	date	NOUN
fbem-11013	227	23	,	,	PUNCT
fbem-11013	227	24	and	and	CCONJ
fbem-11013	227	25	zero	zero	NUM
fbem-11013	227	26	otherwise	otherwise	ADV
fbem-11013	227	27	.	.	PUNCT
fbem-11013	228	1	proportion	proportion	NOUN
fbem-11013	228	2	of	of	ADP
fbem-11013	228	3	the	the	DET
fbem-11013	228	4	largest	large	ADJ
fbem-11013	228	5	shareholder	shareholder	NOUN
fbem-11013	228	6	holding1	holding1	NOUN
fbem-11013	228	7	the	the	DET
fbem-11013	228	8	total	total	ADJ
fbem-11013	228	9	number	number	NOUN
fbem-11013	228	10	of	of	ADP
fbem-11013	228	11	shares	share	NOUN
fbem-11013	228	12	held	hold	VERB
fbem-11013	228	13	by	by	ADP
fbem-11013	228	14	the	the	DET
fbem-11013	228	15	largest	large	ADJ
fbem-11013	228	16	shareholder	shareholder	NOUN
fbem-11013	228	17	divided	divide	VERB
fbem-11013	228	18	by	by	ADP
fbem-11013	228	19	total	total	ADJ
fbem-11013	228	20	number	number	NOUN
fbem-11013	228	21	of	of	ADP
fbem-11013	228	22	shares	share	NOUN
fbem-11013	228	23	released	release	VERB
fbem-11013	228	24	.	.	PUNCT
fbem-11013	229	1	ceo	ceo	NOUN
fbem-11013	229	2	duality	duality	NOUN
fbem-11013	229	3	duality	duality	NOUN
fbem-11013	229	4	dummy	dummy	ADJ
fbem-11013	229	5	variable	variable	NOUN
fbem-11013	229	6	equal	equal	ADJ
fbem-11013	229	7	to	to	ADP
fbem-11013	229	8	one	one	NUM
fbem-11013	229	9	if	if	SCONJ
fbem-11013	229	10	the	the	DET
fbem-11013	229	11	ceo	ceo	NOUN
fbem-11013	229	12	and	and	CCONJ
fbem-11013	229	13	the	the	DET
fbem-11013	229	14	chairman	chairman	NOUN
fbem-11013	229	15	are	be	AUX
fbem-11013	229	16	the	the	DET
fbem-11013	229	17	same	same	ADJ
fbem-11013	229	18	person	person	NOUN
fbem-11013	229	19	,	,	PUNCT
fbem-11013	229	20	zero	zero	NUM
fbem-11013	229	21	otherwise	otherwise	ADV
fbem-11013	229	22	.	.	PUNCT
fbem-11013	230	1	proportion	proportion	NOUN
fbem-11013	230	2	of	of	ADP
fbem-11013	230	3	independent	independent	ADJ
fbem-11013	230	4	directors	director	NOUN
fbem-11013	230	5	director	director	VERB
fbem-11013	230	6	the	the	DET
fbem-11013	230	7	number	number	NOUN
fbem-11013	230	8	of	of	ADP
fbem-11013	230	9	independent	independent	ADJ
fbem-11013	230	10	directors	director	NOUN
fbem-11013	230	11	divided	divide	VERB
fbem-11013	230	12	by	by	ADP
fbem-11013	230	13	the	the	DET
fbem-11013	230	14	total	total	ADJ
fbem-11013	230	15	number	number	NOUN
fbem-11013	230	16	of	of	ADP
fbem-11013	230	17	supervisory	supervisory	ADJ
fbem-11013	230	18	board	board	NOUN
fbem-11013	230	19	members	member	NOUN
fbem-11013	230	20	.	.	PUNCT
fbem-11013	231	1	executive	executive	ADJ
fbem-11013	231	2	overconfidence	overconfidence	NOUN
fbem-11013	231	3	overconfidence	overconfidence	NOUN
fbem-11013	231	4	the	the	DET
fbem-11013	231	5	sum	sum	NOUN
fbem-11013	231	6	of	of	ADP
fbem-11013	231	7	the	the	DET
fbem-11013	231	8	compensation	compensation	NOUN
fbem-11013	231	9	of	of	ADP
fbem-11013	231	10	the	the	DET
fbem-11013	231	11	top	top	ADJ
fbem-11013	231	12	three	three	NUM
fbem-11013	231	13	highest	highest	ADV
fbem-11013	231	14	-	-	PUNCT
fbem-11013	231	15	paid	pay	VERB
fbem-11013	231	16	executives	executive	NOUN
fbem-11013	231	17	divided	divide	VERB
fbem-11013	231	18	by	by	ADP
fbem-11013	231	19	the	the	DET
fbem-11013	231	20	total	total	ADJ
fbem-11013	231	21	compensation	compensation	NOUN
fbem-11013	231	22	of	of	ADP
fbem-11013	231	23	all	all	DET
fbem-11013	231	24	executives	executive	NOUN
fbem-11013	231	25	.	.	PUNCT
fbem-11013	232	1	relative	relative	ADJ
fbem-11013	232	2	deal	deal	NOUN
fbem-11013	232	3	size	size	NOUN
fbem-11013	232	4	dealsize	dealsize	VERB
fbem-11013	232	5	the	the	DET
fbem-11013	232	6	ratio	ratio	NOUN
fbem-11013	232	7	of	of	ADP
fbem-11013	232	8	transaction	transaction	NOUN
fbem-11013	232	9	value	value	NOUN
fbem-11013	232	10	to	to	ADP
fbem-11013	232	11	total	total	ADJ
fbem-11013	232	12	asset	asset	NOUN
fbem-11013	232	13	of	of	ADP
fbem-11013	232	14	the	the	DET
fbem-11013	232	15	acquirer	acquirer	NOUN
fbem-11013	232	16	at	at	ADP
fbem-11013	232	17	the	the	DET
fbem-11013	232	18	end	end	NOUN
fbem-11013	232	19	of	of	ADP
fbem-11013	232	20	the	the	DET
fbem-11013	232	21	fiscal	fiscal	ADJ
fbem-11013	232	22	year	year	NOUN
fbem-11013	232	23	prior	prior	ADV
fbem-11013	232	24	to	to	ADP
fbem-11013	232	25	the	the	DET
fbem-11013	232	26	acquisition	acquisition	NOUN
fbem-11013	232	27	announcement	announcement	NOUN
fbem-11013	232	28	date	date	NOUN
fbem-11013	232	29	.	.	PUNCT
fbem-11013	233	1	transaction	transaction	NOUN
fbem-11013	233	2	type	type	NOUN
fbem-11013	233	3	type	type	NOUN
fbem-11013	233	4	dummy	dummy	ADJ
fbem-11013	233	5	variable	variable	NOUN
fbem-11013	233	6	equal	equal	ADJ
fbem-11013	233	7	to	to	ADP
fbem-11013	233	8	one	one	NUM
fbem-11013	233	9	if	if	SCONJ
fbem-11013	233	10	the	the	DET
fbem-11013	233	11	transaction	transaction	NOUN
fbem-11013	233	12	type	type	NOUN
fbem-11013	233	13	is	be	AUX
fbem-11013	233	14	equity	equity	NOUN
fbem-11013	233	15	transfer	transfer	NOUN
fbem-11013	234	1	,	,	PUNCT
fbem-11013	234	2	zero	zero	NUM
fbem-11013	234	3	is	be	AUX
fbem-11013	234	4	asset	asset	NOUN
fbem-11013	234	5	acquisition	acquisition	NOUN
fbem-11013	234	6	.	.	PUNCT
fbem-11013	235	1	related	relate	VERB
fbem-11013	235	2	-	-	PUNCT
fbem-11013	235	3	party	party	NOUN
fbem-11013	235	4	transaction	transaction	NOUN
fbem-11013	235	5	related	relate	VERB
fbem-11013	235	6	dummy	dummy	ADJ
fbem-11013	235	7	variable	variable	NOUN
fbem-11013	235	8	equal	equal	ADJ
fbem-11013	235	9	to	to	ADP
fbem-11013	235	10	one	one	NUM
fbem-11013	235	11	if	if	SCONJ
fbem-11013	235	12	the	the	DET
fbem-11013	235	13	merger	merger	NOUN
fbem-11013	235	14	and	and	CCONJ
fbem-11013	235	15	acquisition	acquisition	NOUN
fbem-11013	235	16	transaction	transaction	NOUN
fbem-11013	235	17	is	be	AUX
fbem-11013	235	18	a	a	DET
fbem-11013	235	19	related	relate	VERB
fbem-11013	235	20	-	-	PUNCT
fbem-11013	235	21	party	party	NOUN
fbem-11013	235	22	transaction	transaction	NOUN
fbem-11013	235	23	,	,	PUNCT
fbem-11013	235	24	zero	zero	NUM
fbem-11013	235	25	otherwise	otherwise	ADV
fbem-11013	235	26	.	.	PUNCT
fbem-11013	236	1	stock	stock	NOUN
fbem-11013	236	2	volatility	volatility	NOUN
fbem-11013	236	3	volatility	volatility	NOUN
fbem-11013	236	4	the	the	DET
fbem-11013	236	5	annualized	annualize	VERB
fbem-11013	236	6	volatility	volatility	NOUN
fbem-11013	236	7	of	of	ADP
fbem-11013	236	8	daily	daily	ADJ
fbem-11013	236	9	stock	stock	NOUN
fbem-11013	236	10	returns	return	NOUN
fbem-11013	236	11	measured	measure	VERB
fbem-11013	236	12	over	over	ADP
fbem-11013	236	13	quarters	quarter	NOUN
fbem-11013	236	14	t−4	t−4	PROPN
fbem-11013	236	15	prior	prior	ADV
fbem-11013	236	16	to	to	ADP
fbem-11013	236	17	the	the	DET
fbem-11013	236	18	announcement	announcement	NOUN
fbem-11013	236	19	of	of	ADP
fbem-11013	236	20	a	a	DET
fbem-11013	236	21	merger	merger	NOUN
fbem-11013	236	22	and	and	CCONJ
fbem-11013	236	23	acquisition	acquisition	NOUN
fbem-11013	236	24	to	to	ADP
fbem-11013	236	25	the	the	DET
fbem-11013	236	26	quarters	quarter	NOUN
fbem-11013	236	27	t−3	t−3	PROPN
fbem-11013	236	28	.	.	PUNCT
fbem-11013	237	1	change	change	NOUN
fbem-11013	237	2	in	in	ADP
fbem-11013	237	3	volatility	volatility	NOUN
fbem-11013	237	4	is	be	AUX
fbem-11013	237	5	the	the	DET
fbem-11013	237	6	difference	difference	NOUN
fbem-11013	237	7	between	between	ADP
fbem-11013	237	8	volatility	volatility	NOUN
fbem-11013	237	9	measured	measure	VERB
fbem-11013	237	10	over	over	ADP
fbem-11013	237	11	quarters	quarter	NOUN
fbem-11013	237	12	t−2	t−2	NOUN
fbem-11013	237	13	through	through	ADP
fbem-11013	237	14	t−1	t−1	PROPN
fbem-11013	237	15	and	and	CCONJ
fbem-11013	237	16	volatility	volatility	NOUN
fbem-11013	237	17	measured	measure	VERB
fbem-11013	237	18	over	over	ADP
fbem-11013	237	19	quarters	quarter	NOUN
fbem-11013	237	20	t−4	t−4	PROPN
fbem-11013	237	21	through	through	ADP
fbem-11013	237	22	t−3	t−3	PROPN
fbem-11013	237	23	.	.	PUNCT
fbem-11013	238	1	industry	industry	NOUN
fbem-11013	238	2	industry	industry	NOUN
fbem-11013	238	3	set	set	VERB
fbem-11013	238	4	47	47	NUM
fbem-11013	238	5	dummy	dummy	ADJ
fbem-11013	238	6	variables	variable	NOUN
fbem-11013	238	7	based	base	VERB
fbem-11013	238	8	on	on	ADP
fbem-11013	238	9	the	the	DET
fbem-11013	238	10	stwo	stwo	ADJ
fbem-11013	238	11	-	-	PUNCT
fbem-11013	238	12	digit	digit	NOUN
fbem-11013	238	13	china	china	PROPN
fbem-11013	238	14	industry	industry	NOUN
fbem-11013	238	15	classification	classification	NOUN
fbem-11013	238	16	system	system	NOUN
fbem-11013	238	17	(	(	PUNCT
fbem-11013	238	18	cics	cic	NOUN
fbem-11013	238	19	)	)	PUNCT
fbem-11013	238	20	codes	code	NOUN
fbem-11013	238	21	.	.	PUNCT
fbem-11013	239	1	year	year	NOUN
fbem-11013	239	2	year	year	NOUN
fbem-11013	239	3	15	15	NUM
fbem-11013	239	4	years	year	NOUN
fbem-11013	239	5	from	from	ADP
fbem-11013	239	6	2007	2007	NUM
fbem-11013	239	7	to	to	ADP
fbem-11013	239	8	2021	2021	NUM
fbem-11013	239	9	,	,	PUNCT
fbem-11013	239	10	encompassing	encompass	VERB
fbem-11013	239	11	a	a	DET
fbem-11013	239	12	total	total	NOUN
fbem-11013	239	13	of	of	ADP
fbem-11013	239	14	60	60	NUM
fbem-11013	239	15	quarters	quarter	NOUN
fbem-11013	239	16	,	,	PUNCT
fbem-11013	239	17	set	set	VERB
fbem-11013	239	18	to	to	ADP
fbem-11013	239	19	60	60	NUM
fbem-11013	239	20	dummy	dummy	ADJ
fbem-11013	239	21	variables	variable	NOUN
fbem-11013	239	22	.	.	PUNCT
fbem-11013	240	1	5	5	X
fbem-11013	240	2	.	.	X
fbem-11013	240	3	empirical	empirical	ADJ
fbem-11013	240	4	results	result	NOUN
fbem-11013	240	5	table	table	NOUN
fbem-11013	240	6	2	2	NUM
fbem-11013	240	7	illustrate	illustrate	VERB
fbem-11013	240	8	the	the	DET
fbem-11013	240	9	impact	impact	NOUN
fbem-11013	240	10	of	of	ADP
fbem-11013	240	11	market	market	NOUN
fbem-11013	240	12	mispricing	misprice	VERB
fbem-11013	240	13	timing	timing	NOUN
fbem-11013	240	14	on	on	ADP
fbem-11013	240	15	short	short	ADJ
fbem-11013	240	16	-	-	PUNCT
fbem-11013	240	17	term	term	NOUN
fbem-11013	240	18	stock	stock	NOUN
fbem-11013	240	19	market	market	NOUN
fbem-11013	240	20	performance	performance	NOUN
fbem-11013	240	21	.	.	PUNCT
fbem-11013	241	1	the	the	DET
fbem-11013	241	2	fundamental	fundamental	ADJ
fbem-11013	241	3	regression	regression	NOUN
fbem-11013	241	4	results	result	NOUN
fbem-11013	241	5	indicate	indicate	VERB
fbem-11013	241	6	that	that	SCONJ
fbem-11013	241	7	the	the	DET
fbem-11013	241	8	correlation	correlation	NOUN
fbem-11013	241	9	coefficients	coefficient	VERB
fbem-11013	241	10	between	between	ADP
fbem-11013	241	11	mmt	mmt	PROPN
fbem-11013	241	12	and	and	CCONJ
fbem-11013	241	13	car	car	NOUN
fbem-11013	241	14	are	be	AUX
fbem-11013	241	15	significantly	significantly	ADV
fbem-11013	241	16	positive	positive	ADJ
fbem-11013	241	17	at	at	ADP
fbem-11013	241	18	the	the	DET
fbem-11013	241	19	1	1	NUM
fbem-11013	241	20	%	%	NOUN
fbem-11013	241	21	level	level	NOUN
fbem-11013	241	22	,	,	PUNCT
fbem-11013	241	23	measuring	measure	VERB
fbem-11013	241	24	0.0452	0.0452	NUM
fbem-11013	241	25	and	and	CCONJ
fbem-11013	241	26	0.0547	0.0547	NUM
fbem-11013	241	27	,	,	PUNCT
fbem-11013	241	28	respectively	respectively	ADV
fbem-11013	241	29	.	.	PUNCT
fbem-11013	242	1	therefore	therefore	ADV
fbem-11013	242	2	,	,	PUNCT
fbem-11013	242	3	market	market	NOUN
fbem-11013	242	4	mispricing	misprice	VERB
fbem-11013	242	5	timing	timing	NOUN
fbem-11013	242	6	indeed	indeed	ADV
fbem-11013	242	7	has	have	VERB
fbem-11013	242	8	a	a	DET
fbem-11013	242	9	positive	positive	ADJ
fbem-11013	242	10	influence	influence	NOUN
fbem-11013	242	11	on	on	ADP
fbem-11013	242	12	short	short	ADJ
fbem-11013	242	13	-	-	PUNCT
fbem-11013	242	14	term	term	NOUN
fbem-11013	242	15	stock	stock	NOUN
fbem-11013	242	16	market	market	NOUN
fbem-11013	242	17	performance	performance	NOUN
fbem-11013	242	18	.	.	PUNCT
fbem-11013	243	1	consequently	consequently	ADV
fbem-11013	243	2	,	,	PUNCT
fbem-11013	243	3	the	the	DET
fbem-11013	243	4	255	255	NUM
fbem-11013	243	5	acquirer	acquirer	NOUN
fbem-11013	243	6	's	's	PART
fbem-11013	243	7	short	short	ADJ
fbem-11013	243	8	-	-	PUNCT
fbem-11013	243	9	term	term	NOUN
fbem-11013	243	10	market	market	NOUN
fbem-11013	243	11	performance	performance	NOUN
fbem-11013	243	12	is	be	AUX
fbem-11013	243	13	significantly	significantly	ADV
fbem-11013	243	14	positive	positive	ADJ
fbem-11013	243	15	when	when	SCONJ
fbem-11013	243	16	engaging	engage	VERB
fbem-11013	243	17	in	in	ADP
fbem-11013	243	18	mergers	merger	NOUN
fbem-11013	243	19	and	and	CCONJ
fbem-11013	243	20	acquisitions	acquisition	NOUN
fbem-11013	243	21	during	during	ADP
fbem-11013	243	22	periods	period	NOUN
fbem-11013	243	23	of	of	ADP
fbem-11013	243	24	market	market	NOUN
fbem-11013	243	25	overvaluation	overvaluation	NOUN
fbem-11013	243	26	.	.	PUNCT
fbem-11013	244	1	the	the	DET
fbem-11013	244	2	regression	regression	NOUN
fbem-11013	244	3	results	result	VERB
fbem-11013	244	4	from	from	ADP
fbem-11013	244	5	tables	table	NOUN
fbem-11013	244	6	3	3	NUM
fbem-11013	244	7	and	and	CCONJ
fbem-11013	244	8	4	4	NUM
fbem-11013	244	9	reveal	reveal	VERB
fbem-11013	244	10	that	that	SCONJ
fbem-11013	244	11	the	the	DET
fbem-11013	244	12	correlation	correlation	NOUN
fbem-11013	244	13	coefficients	coefficient	VERB
fbem-11013	244	14	between	between	ADP
fbem-11013	244	15	mmt	mmt	PROPN
fbem-11013	244	16	and	and	CCONJ
fbem-11013	244	17	bhar	bhar	PROPN
fbem-11013	244	18	,	,	PUNCT
fbem-11013	244	19	as	as	ADV
fbem-11013	244	20	well	well	ADV
fbem-11013	244	21	as	as	ADP
fbem-11013	244	22	mmt	mmt	PROPN
fbem-11013	244	23	and	and	CCONJ
fbem-11013	244	24	roa	roa	PROPN
fbem-11013	244	25	,	,	PUNCT
fbem-11013	244	26	are	be	AUX
fbem-11013	244	27	negative	negative	ADJ
fbem-11013	244	28	,	,	PUNCT
fbem-11013	244	29	but	but	CCONJ
fbem-11013	244	30	they	they	PRON
fbem-11013	244	31	lack	lack	VERB
fbem-11013	244	32	statistical	statistical	ADJ
fbem-11013	244	33	significance	significance	NOUN
fbem-11013	244	34	.	.	PUNCT
fbem-11013	245	1	in	in	ADP
fbem-11013	245	2	other	other	ADJ
fbem-11013	245	3	words	word	NOUN
fbem-11013	245	4	,	,	PUNCT
fbem-11013	245	5	the	the	DET
fbem-11013	245	6	market	market	NOUN
fbem-11013	245	7	mispricing	misprice	VERB
fbem-11013	245	8	timing	timing	NOUN
fbem-11013	245	9	does	do	AUX
fbem-11013	245	10	not	not	PART
fbem-11013	245	11	have	have	VERB
fbem-11013	245	12	a	a	DET
fbem-11013	245	13	significant	significant	ADJ
fbem-11013	245	14	impact	impact	NOUN
fbem-11013	245	15	on	on	ADP
fbem-11013	245	16	the	the	DET
fbem-11013	245	17	long	long	ADJ
fbem-11013	245	18	-	-	PUNCT
fbem-11013	245	19	term	term	NOUN
fbem-11013	245	20	performance	performance	NOUN
fbem-11013	245	21	of	of	ADP
fbem-11013	245	22	the	the	DET
fbem-11013	245	23	acquiring	acquire	VERB
fbem-11013	245	24	party	party	NOUN
fbem-11013	245	25	.	.	PUNCT
fbem-11013	246	1	table	table	NOUN
fbem-11013	246	2	2	2	NUM
fbem-11013	246	3	.	.	PUNCT
fbem-11013	246	4	multiple	multiple	ADJ
fbem-11013	246	5	regression	regression	NOUN
fbem-11013	246	6	result	result	NOUN
fbem-11013	246	7	of	of	ADP
fbem-11013	246	8	market	market	NOUN
fbem-11013	246	9	mispricing	misprice	VERB
fbem-11013	246	10	timing	timing	NOUN
fbem-11013	246	11	and	and	CCONJ
fbem-11013	246	12	short	short	ADJ
fbem-11013	246	13	-	-	PUNCT
fbem-11013	246	14	term	term	NOUN
fbem-11013	246	15	stock	stock	NOUN
fbem-11013	246	16	market	market	NOUN
fbem-11013	246	17	performance	performance	NOUN
fbem-11013	246	18	car(-2,2	car(-2,2	PROPN
fbem-11013	246	19	)	)	PUNCT
fbem-11013	246	20	car(-5,5	car(-5,5	PROPN
fbem-11013	246	21	)	)	PUNCT
fbem-11013	247	1	mmt	mmt	PROPN
fbem-11013	247	2	0.0452	0.0452	NUM
fbem-11013	247	3	*	*	PUNCT
fbem-11013	247	4	*	*	PUNCT
fbem-11013	247	5	*	*	PUNCT
fbem-11013	247	6	(	(	PUNCT
fbem-11013	247	7	3.2910	3.2910	NUM
fbem-11013	247	8	)	)	PUNCT
fbem-11013	247	9	0.0547	0.0547	NUM
fbem-11013	247	10	*	*	PUNCT
fbem-11013	247	11	*	*	PUNCT
fbem-11013	247	12	*	*	PUNCT
fbem-11013	247	13	(	(	PUNCT
fbem-11013	247	14	2.8433	2.8433	NUM
fbem-11013	247	15	)	)	PUNCT
fbem-11013	247	16	control	control	NOUN
fbem-11013	247	17	variables	variable	NOUN
fbem-11013	248	1	yes	yes	INTJ
fbem-11013	248	2	yes	yes	INTJ
fbem-11013	249	1	industry	industry	NOUN
fbem-11013	250	1	yes	yes	INTJ
fbem-11013	250	2	yes	yes	INTJ
fbem-11013	251	1	year	year	NOUN
fbem-11013	252	1	yes	yes	INTJ
fbem-11013	253	1	yes	yes	INTJ
fbem-11013	254	1	n	n	ADV
fbem-11013	254	2	8010	8010	NUM
fbem-11013	254	3	8010	8010	NUM
fbem-11013	254	4	r2	r2	NOUN
fbem-11013	254	5	0.0900	0.0900	NUM
fbem-11013	254	6	0.0888	0.0888	NUM
fbem-11013	254	7	adj	adj	PROPN
fbem-11013	254	8	.	.	PUNCT
fbem-11013	254	9	r2	r2	PROPN
fbem-11013	254	10	0.0763	0.0763	NUM
fbem-11013	254	11	0.0750	0.0750	NUM
fbem-11013	254	12	table	table	NOUN
fbem-11013	254	13	3	3	NUM
fbem-11013	254	14	.	.	X
fbem-11013	254	15	t	t	PROPN
fbem-11013	254	16	multiple	multiple	ADJ
fbem-11013	254	17	regression	regression	NOUN
fbem-11013	254	18	result	result	NOUN
fbem-11013	254	19	of	of	ADP
fbem-11013	254	20	market	market	NOUN
fbem-11013	254	21	mispricing	misprice	VERB
fbem-11013	254	22	timing	timing	NOUN
fbem-11013	254	23	and	and	CCONJ
fbem-11013	254	24	long	long	ADJ
fbem-11013	254	25	-	-	PUNCT
fbem-11013	254	26	term	term	NOUN
fbem-11013	254	27	stock	stock	NOUN
fbem-11013	254	28	market	market	NOUN
fbem-11013	254	29	performance	performance	NOUN
fbem-11013	254	30	bhar12	bhar12	PROPN
fbem-11013	254	31	bhar24	bhar24	PROPN
fbem-11013	254	32	bhar36	bhar36	PROPN
fbem-11013	255	1	mmt	mmt	PROPN
fbem-11013	255	2	-0.0109	-0.0109	PROPN
fbem-11013	255	3	(	(	PUNCT
fbem-11013	255	4	-0.1409	-0.1409	NOUN
fbem-11013	255	5	)	)	PUNCT
fbem-11013	255	6	-0.1026	-0.1026	PROPN
fbem-11013	255	7	(	(	PUNCT
fbem-11013	255	8	-1.0809	-1.0809	PROPN
fbem-11013	255	9	)	)	PUNCT
fbem-11013	255	10	-0.3940	-0.3940	NOUN
fbem-11013	255	11	(	(	PUNCT
fbem-11013	255	12	-1.4551	-1.4551	NOUN
fbem-11013	255	13	)	)	PUNCT
fbem-11013	255	14	control	control	NOUN
fbem-11013	256	1	variables	variable	NOUN
fbem-11013	257	1	yes	yes	INTJ
fbem-11013	257	2	yes	yes	INTJ
fbem-11013	258	1	yes	yes	INTJ
fbem-11013	258	2	industry	industry	NOUN
fbem-11013	259	1	yes	yes	INTJ
fbem-11013	260	1	yes	yes	INTJ
fbem-11013	261	1	yes	yes	INTJ
fbem-11013	261	2	year	year	NOUN
fbem-11013	262	1	yes	yes	INTJ
fbem-11013	263	1	yes	yes	INTJ
fbem-11013	264	1	yes	yes	INTJ
fbem-11013	264	2	n	n	CCONJ
fbem-11013	264	3	7454	7454	NUM
fbem-11013	264	4	7005	7005	NUM
fbem-11013	264	5	6554	6554	NUM
fbem-11013	264	6	r2	r2	PROPN
fbem-11013	264	7	0.1512	0.1512	NUM
fbem-11013	264	8	0.1818	0.1818	NUM
fbem-11013	264	9	0.1894	0.1894	NUM
fbem-11013	264	10	adj	adj	X
fbem-11013	264	11	.	.	PUNCT
fbem-11013	265	1	r2	r2	PROPN
fbem-11013	265	2	0.1374	0.1374	NUM
fbem-11013	265	3	0.1677	0.1677	NUM
fbem-11013	265	4	0.1744	0.1744	NUM
fbem-11013	265	5	table	table	NOUN
fbem-11013	265	6	4	4	NUM
fbem-11013	265	7	.	.	X
fbem-11013	265	8	t	t	PROPN
fbem-11013	265	9	multiple	multiple	ADJ
fbem-11013	265	10	regression	regression	NOUN
fbem-11013	265	11	result	result	NOUN
fbem-11013	265	12	of	of	ADP
fbem-11013	265	13	market	market	NOUN
fbem-11013	265	14	mispricing	misprice	VERB
fbem-11013	265	15	timing	timing	NOUN
fbem-11013	265	16	and	and	CCONJ
fbem-11013	265	17	financial	financial	ADJ
fbem-11013	265	18	performance	performance	NOUN
fbem-11013	265	19	δroa1	δroa1	NOUN
fbem-11013	265	20	δroa2	δroa2	PROPN
fbem-11013	266	1	δroa3	δroa3	PROPN
fbem-11013	266	2	mmt	mmt	PROPN
fbem-11013	267	1	0.0104	0.0104	PROPN
fbem-11013	267	2	(	(	PUNCT
fbem-11013	267	3	1.3074	1.3074	NUM
fbem-11013	267	4	)	)	PUNCT
fbem-11013	267	5	0.0037	0.0037	NUM
fbem-11013	267	6	(	(	PUNCT
fbem-11013	267	7	0.4272	0.4272	NUM
fbem-11013	267	8	)	)	PUNCT
fbem-11013	267	9	0.0147	0.0147	NUM
fbem-11013	267	10	(	(	PUNCT
fbem-11013	267	11	1.5311	1.5311	NUM
fbem-11013	267	12	)	)	PUNCT
fbem-11013	267	13	control	control	NOUN
fbem-11013	267	14	variables	variable	NOUN
fbem-11013	268	1	yes	yes	INTJ
fbem-11013	268	2	yes	yes	INTJ
fbem-11013	269	1	yes	yes	INTJ
fbem-11013	269	2	industry	industry	NOUN
fbem-11013	270	1	yes	yes	INTJ
fbem-11013	271	1	yes	yes	INTJ
fbem-11013	272	1	yes	yes	INTJ
fbem-11013	272	2	year	year	NOUN
fbem-11013	273	1	yes	yes	INTJ
fbem-11013	274	1	yes	yes	INTJ
fbem-11013	275	1	yes	yes	INTJ
fbem-11013	276	1	n	n	CCONJ
fbem-11013	276	2	7316	7316	NUM
fbem-11013	276	3	6677	6677	NUM
fbem-11013	276	4	5972	5972	NUM
fbem-11013	276	5	r2	r2	NOUN
fbem-11013	276	6	0.0948	0.0948	NUM
fbem-11013	276	7	0.0716	0.0716	NUM
fbem-11013	276	8	0.0835	0.0835	NUM
fbem-11013	276	9	adj	adj	NOUN
fbem-11013	276	10	.	.	PUNCT
fbem-11013	277	1	r2	r2	PROPN
fbem-11013	277	2	0.0805	0.0805	NUM
fbem-11013	277	3	0.0560	0.0560	NUM
fbem-11013	277	4	0.0669	0.0669	NUM
fbem-11013	277	5	6	6	NUM
fbem-11013	277	6	.	.	PUNCT
fbem-11013	277	7	conclusion	conclusion	NOUN
fbem-11013	277	8	in	in	ADP
fbem-11013	277	9	conclusion	conclusion	NOUN
fbem-11013	277	10	,	,	PUNCT
fbem-11013	277	11	our	our	PRON
fbem-11013	277	12	study	study	NOUN
fbem-11013	277	13	sheds	shed	VERB
fbem-11013	277	14	light	light	NOUN
fbem-11013	277	15	on	on	ADP
fbem-11013	277	16	the	the	DET
fbem-11013	277	17	impact	impact	NOUN
fbem-11013	277	18	of	of	ADP
fbem-11013	277	19	market	market	NOUN
fbem-11013	277	20	mispricing	misprice	VERB
fbem-11013	277	21	timing	timing	NOUN
fbem-11013	277	22	on	on	ADP
fbem-11013	277	23	post	post	ADJ
fbem-11013	277	24	-	-	ADJ
fbem-11013	277	25	acquisition	acquisition	ADJ
fbem-11013	277	26	performance	performance	NOUN
fbem-11013	277	27	in	in	ADP
fbem-11013	277	28	china	china	PROPN
fbem-11013	277	29	's	's	PART
fbem-11013	277	30	emerging	emerge	VERB
fbem-11013	277	31	economy	economy	NOUN
fbem-11013	277	32	.	.	PUNCT
fbem-11013	278	1	our	our	PRON
fbem-11013	278	2	findings	finding	NOUN
fbem-11013	278	3	indicate	indicate	VERB
fbem-11013	278	4	that	that	SCONJ
fbem-11013	278	5	m&a	m&a	PROPN
fbem-11013	278	6	activities	activity	NOUN
fbem-11013	278	7	conducted	conduct	VERB
fbem-11013	278	8	during	during	ADP
fbem-11013	278	9	periods	period	NOUN
fbem-11013	278	10	of	of	ADP
fbem-11013	278	11	market	market	NOUN
fbem-11013	278	12	overvaluation	overvaluation	NOUN
fbem-11013	278	13	can	can	AUX
fbem-11013	278	14	lead	lead	VERB
fbem-11013	278	15	to	to	ADP
fbem-11013	278	16	short	short	ADJ
fbem-11013	278	17	-	-	PUNCT
fbem-11013	278	18	term	term	NOUN
fbem-11013	278	19	performance	performance	NOUN
fbem-11013	278	20	improvements	improvement	NOUN
fbem-11013	278	21	for	for	ADP
fbem-11013	278	22	acquiring	acquire	VERB
fbem-11013	278	23	firms	firm	NOUN
fbem-11013	278	24	due	due	ADP
fbem-11013	278	25	to	to	ADP
fbem-11013	278	26	investor	investor	NOUN
fbem-11013	278	27	sentiment	sentiment	NOUN
fbem-11013	278	28	.	.	PUNCT
fbem-11013	279	1	however	however	ADV
fbem-11013	279	2	,	,	PUNCT
fbem-11013	279	3	it	it	PRON
fbem-11013	279	4	's	be	AUX
fbem-11013	279	5	important	important	ADJ
fbem-11013	279	6	to	to	PART
fbem-11013	279	7	note	note	VERB
fbem-11013	279	8	that	that	SCONJ
fbem-11013	279	9	this	this	DET
fbem-11013	279	10	effect	effect	NOUN
fbem-11013	279	11	does	do	AUX
fbem-11013	279	12	not	not	PART
fbem-11013	279	13	translate	translate	VERB
fbem-11013	279	14	into	into	ADP
fbem-11013	279	15	sustained	sustained	ADJ
fbem-11013	279	16	long	long	ADJ
fbem-11013	279	17	-	-	PUNCT
fbem-11013	279	18	term	term	NOUN
fbem-11013	279	19	performance	performance	NOUN
fbem-11013	279	20	enhancements	enhancement	NOUN
fbem-11013	279	21	.	.	PUNCT
fbem-11013	280	1	while	while	SCONJ
fbem-11013	280	2	m&a	m&a	PROPN
fbem-11013	280	3	during	during	ADP
fbem-11013	280	4	market	market	NOUN
fbem-11013	280	5	overvaluation	overvaluation	NOUN
fbem-11013	280	6	may	may	AUX
fbem-11013	280	7	yield	yield	VERB
fbem-11013	280	8	immediate	immediate	ADJ
fbem-11013	280	9	gains	gain	NOUN
fbem-11013	280	10	,	,	PUNCT
fbem-11013	280	11	other	other	ADJ
fbem-11013	280	12	factors	factor	NOUN
fbem-11013	280	13	come	come	VERB
fbem-11013	280	14	into	into	ADP
fbem-11013	280	15	play	play	NOUN
fbem-11013	280	16	for	for	ADP
fbem-11013	280	17	enduring	endure	VERB
fbem-11013	280	18	success	success	NOUN
fbem-11013	280	19	in	in	ADP
fbem-11013	280	20	china	china	PROPN
fbem-11013	280	21	's	's	PART
fbem-11013	280	22	dynamic	dynamic	ADJ
fbem-11013	280	23	capital	capital	NOUN
fbem-11013	280	24	market	market	NOUN
fbem-11013	280	25	.	.	PUNCT
fbem-11013	281	1	further	further	ADJ
fbem-11013	281	2	research	research	NOUN
fbem-11013	281	3	is	be	AUX
fbem-11013	281	4	needed	need	VERB
fbem-11013	281	5	to	to	PART
fbem-11013	281	6	refine	refine	VERB
fbem-11013	281	7	strategies	strategy	NOUN
fbem-11013	281	8	for	for	ADP
fbem-11013	281	9	achieving	achieve	VERB
fbem-11013	281	10	consistent	consistent	ADJ
fbem-11013	281	11	growth	growth	NOUN
fbem-11013	281	12	in	in	ADP
fbem-11013	281	13	m&a	m&a	PROPN
fbem-11013	281	14	endeavors	endeavor	NOUN
fbem-11013	281	15	.	.	PUNCT
fbem-11013	282	1	references	reference	NOUN
fbem-11013	282	2	[	[	X
fbem-11013	282	3	1	1	NUM
fbem-11013	282	4	]	]	X
fbem-11013	282	5	chen	chen	PROPN
fbem-11013	282	6	,	,	PUNCT
fbem-11013	282	7	j.	j.	PROPN
fbem-11013	282	8	,	,	PUNCT
fbem-11013	282	9	x.	x.	PROPN
fbem-11013	282	10	zhao	zhao	PROPN
fbem-11013	282	11	,	,	PUNCT
fbem-11013	282	12	and	and	CCONJ
fbem-11013	282	13	x.	x.	NOUN
fbem-11013	282	14	niu	niu	PROPN
fbem-11013	282	15	,	,	PUNCT
fbem-11013	282	16	research	research	NOUN
fbem-11013	282	17	on	on	ADP
fbem-11013	282	18	the	the	DET
fbem-11013	282	19	impact	impact	NOUN
fbem-11013	282	20	of	of	ADP
fbem-11013	282	21	payment	payment	NOUN
fbem-11013	282	22	methods	method	NOUN
fbem-11013	282	23	on	on	ADP
fbem-11013	282	24	merger	merger	NOUN
fbem-11013	282	25	and	and	CCONJ
fbem-11013	282	26	acquisition	acquisition	NOUN
fbem-11013	282	27	performance	performance	NOUN
fbem-11013	282	28	from	from	ADP
fbem-11013	282	29	the	the	DET
fbem-11013	282	30	perspective	perspective	NOUN
fbem-11013	282	31	of	of	ADP
fbem-11013	282	32	financing	financing	NOUN
fbem-11013	282	33	constraints	constraint	NOUN
fbem-11013	282	34	.	.	PUNCT
fbem-11013	283	1	macroeconomics	macroeconomic	NOUN
fbem-11013	283	2	,	,	PUNCT
fbem-11013	283	3	2020	2020	NUM
fbem-11013	283	4	.	.	PUNCT
fbem-11013	284	1	4	4	NUM
fbem-11013	284	2	:	:	PUNCT
fbem-11013	284	3	p.	p.	NOUN
fbem-11013	284	4	16	16	NUM
fbem-11013	284	5	-	-	SYM
fbem-11013	284	6	27	27	NUM
fbem-11013	284	7	.	.	PUNCT
fbem-11013	285	1	[	[	X
fbem-11013	285	2	2	2	NUM
fbem-11013	285	3	]	]	X
fbem-11013	285	4	zhong	zhong	PROPN
fbem-11013	285	5	,	,	PUNCT
fbem-11013	285	6	h.	h.	PROPN
fbem-11013	285	7	and	and	CCONJ
fbem-11013	285	8	y.	y.	PROPN
fbem-11013	285	9	dong	dong	PROPN
fbem-11013	285	10	,	,	PUNCT
fbem-11013	285	11	the	the	DET
fbem-11013	285	12	mergers	merger	NOUN
fbem-11013	285	13	&	&	CCONJ
fbem-11013	285	14	acquisitions	acquisition	NOUN
fbem-11013	285	15	market	market	NOUN
fbem-11013	285	16	trends	trend	NOUN
fbem-11013	285	17	and	and	CCONJ
fbem-11013	285	18	stock	stock	NOUN
fbem-11013	285	19	market	market	NOUN
fbem-11013	285	20	of	of	ADP
fbem-11013	285	21	china	china	PROPN
fbem-11013	285	22	.	.	PUNCT
fbem-11013	286	1	international	international	ADJ
fbem-11013	286	2	business	business	NOUN
fbem-11013	286	3	and	and	CCONJ
fbem-11013	286	4	management	management	NOUN
fbem-11013	286	5	,	,	PUNCT
fbem-11013	286	6	2014	2014	NUM
fbem-11013	286	7	.	.	PUNCT
fbem-11013	287	1	8(2	8(2	NUM
fbem-11013	287	2	):	):	PUNCT
fbem-11013	287	3	p.	p.	NOUN
fbem-11013	287	4	112	112	NUM
fbem-11013	287	5	-	-	SYM
fbem-11013	287	6	119	119	NUM
fbem-11013	287	7	.	.	PUNCT
fbem-11013	288	1	[	[	X
fbem-11013	288	2	3	3	NUM
fbem-11013	288	3	]	]	X
fbem-11013	288	4	shi	shi	PROPN
fbem-11013	288	5	,	,	PUNCT
fbem-11013	288	6	j.	j.	PROPN
fbem-11013	288	7	and	and	CCONJ
fbem-11013	288	8	h.	h.	PROPN
fbem-11013	288	9	chen	chen	PROPN
fbem-11013	288	10	,	,	PUNCT
fbem-11013	288	11	analysis	analysis	NOUN
fbem-11013	288	12	andrecommendations	andrecommendation	NOUN
fbem-11013	288	13	of	of	ADP
fbem-11013	288	14	a	a	DET
fbem-11013	288	15	-	-	PUNCT
fbem-11013	288	16	share	share	NOUN
fbem-11013	288	17	market	market	NOUN
fbem-11013	288	18	reorganization	reorganization	NOUN
fbem-11013	288	19	and	and	CCONJ
fbem-11013	288	20	listing	listing	NOUN
fbem-11013	288	21	.	.	PUNCT
fbem-11013	289	1	journal	journal	PROPN
fbem-11013	289	2	of	of	ADP
fbem-11013	289	3	qingdao	qingdao	PROPN
fbem-11013	289	4	university	university	PROPN
fbem-11013	289	5	of	of	ADP
fbem-11013	289	6	science	science	NOUN
fbem-11013	289	7	and	and	CCONJ
fbem-11013	289	8	technology	technology	NOUN
fbem-11013	289	9	(	(	PUNCT
fbem-11013	289	10	social	social	ADJ
fbem-11013	289	11	sciences	science	NOUN
fbem-11013	289	12	)	)	PUNCT
fbem-11013	289	13	,	,	PUNCT
fbem-11013	289	14	2020	2020	NUM
fbem-11013	289	15	.	.	PUNCT
fbem-11013	290	1	36(1	36(1	NUM
fbem-11013	290	2	):	):	PUNCT
fbem-11013	290	3	p.	p.	NOUN
fbem-11013	290	4	23	23	NUM
fbem-11013	290	5	-	-	SYM
fbem-11013	290	6	29	29	NUM
fbem-11013	290	7	.	.	PUNCT
fbem-11013	291	1	[	[	X
fbem-11013	291	2	4	4	NUM
fbem-11013	291	3	]	]	X
fbem-11013	291	4	liao	liao	PROPN
fbem-11013	291	5	,	,	PUNCT
fbem-11013	291	6	m.	m.	NOUN
fbem-11013	291	7	,	,	PUNCT
fbem-11013	291	8	analysis	analysis	NOUN
fbem-11013	291	9	of	of	ADP
fbem-11013	291	10	mergers	merger	NOUN
fbem-11013	291	11	and	and	CCONJ
fbem-11013	291	12	acquisitions	acquisition	NOUN
fbem-11013	291	13	of	of	ADP
fbem-11013	291	14	listed	list	VERB
fbem-11013	291	15	companies	company	NOUN
fbem-11013	291	16	under	under	ADP
fbem-11013	291	17	financial	financial	ADJ
fbem-11013	291	18	policies	policy	NOUN
fbem-11013	291	19	.	.	PUNCT
fbem-11013	292	1	new	new	ADJ
fbem-11013	292	2	finace	finace	NOUN
fbem-11013	292	3	world	world	NOUN
fbem-11013	292	4	,	,	PUNCT
fbem-11013	292	5	2021(1	2021(1	NUM
fbem-11013	292	6	):	):	PUNCT
fbem-11013	292	7	p.	p.	NOUN
fbem-11013	292	8	217	217	NUM
fbem-11013	292	9	-	-	SYM
fbem-11013	292	10	219	219	NUM
fbem-11013	292	11	.	.	PUNCT
fbem-11013	293	1	[	[	X
fbem-11013	293	2	5	5	NUM
fbem-11013	293	3	]	]	X
fbem-11013	293	4	huang	huang	PROPN
fbem-11013	293	5	,	,	PUNCT
fbem-11013	293	6	y.	y.	PROPN
fbem-11013	293	7	and	and	CCONJ
fbem-11013	293	8	x.	x.	PROPN
fbem-11013	293	9	li	li	PROPN
fbem-11013	293	10	,	,	PUNCT
fbem-11013	293	11	a	a	DET
fbem-11013	293	12	study	study	NOUN
fbem-11013	293	13	on	on	ADP
fbem-11013	293	14	the	the	DET
fbem-11013	293	15	impact	impact	NOUN
fbem-11013	293	16	of	of	ADP
fbem-11013	293	17	manager	manager	NOUN
fbem-11013	293	18	's	's	PART
fbem-11013	293	19	herding	herd	VERB
fbem-11013	293	20	behavior	behavior	NOUN
fbem-11013	293	21	on	on	ADP
fbem-11013	293	22	decision	decision	NOUN
fbem-11013	293	23	bias	bias	NOUN
fbem-11013	293	24	in	in	ADP
fbem-11013	293	25	enterprise	enterprise	NOUN
fbem-11013	293	26	merger	merger	NOUN
fbem-11013	293	27	and	and	CCONJ
fbem-11013	293	28	acquisition	acquisition	NOUN
fbem-11013	293	29	strategy	strategy	NOUN
fbem-11013	293	30	.	.	PUNCT
fbem-11013	294	1	shangqing	shangqing	NOUN
fbem-11013	294	2	,	,	PUNCT
fbem-11013	294	3	2018(41	2018(41	NUM
fbem-11013	294	4	):	):	PUNCT
fbem-11013	294	5	p.	p.	NOUN
fbem-11013	294	6	149	149	NUM
fbem-11013	294	7	-	-	SYM
fbem-11013	294	8	155	155	NUM
fbem-11013	294	9	.	.	PUNCT
fbem-11013	295	1	[	[	X
fbem-11013	295	2	6	6	NUM
fbem-11013	295	3	]	]	X
fbem-11013	295	4	an	an	PRON
fbem-11013	295	5	,	,	PUNCT
fbem-11013	295	6	y.	y.	PROPN
fbem-11013	295	7	and	and	CCONJ
fbem-11013	295	8	x.	x.	PROPN
fbem-11013	295	9	chen	chen	PROPN
fbem-11013	295	10	,	,	PUNCT
fbem-11013	295	11	valuation	valuation	NOUN
fbem-11013	295	12	arbitrage	arbitrage	NOUN
fbem-11013	295	13	and	and	CCONJ
fbem-11013	295	14	m&a	m&a	PROPN
fbem-11013	295	15	:	:	PUNCT
fbem-11013	295	16	evidence	evidence	NOUN
fbem-11013	295	17	from	from	ADP
fbem-11013	295	18	chinese	chinese	ADJ
fbem-11013	295	19	companies	company	NOUN
fbem-11013	295	20	.	.	PUNCT
fbem-11013	296	1	business	business	NOUN
fbem-11013	296	2	and	and	CCONJ
fbem-11013	296	3	management	management	NOUN
fbem-11013	296	4	journal	journal	NOUN
fbem-11013	296	5	,	,	PUNCT
fbem-11013	296	6	2019	2019	NUM
fbem-11013	296	7	.	.	PUNCT
fbem-11013	297	1	41(3	41(3	X
fbem-11013	297	2	):	):	PUNCT
fbem-11013	298	1	p.	p.	NOUN
fbem-11013	298	2	73	73	NUM
fbem-11013	298	3	-	-	SYM
fbem-11013	298	4	89	89	NUM
fbem-11013	298	5	.	.	PUNCT
fbem-11013	299	1	[	[	X
fbem-11013	299	2	7	7	NUM
fbem-11013	299	3	]	]	X
fbem-11013	299	4	huang	huang	PROPN
fbem-11013	299	5	,	,	PUNCT
fbem-11013	299	6	h.	h.	PROPN
fbem-11013	299	7	,	,	PUNCT
fbem-11013	299	8	y.	y.	PROPN
fbem-11013	299	9	ma	ma	PROPN
fbem-11013	299	10	,	,	PUNCT
fbem-11013	299	11	and	and	CCONJ
fbem-11013	299	12	y.	y.	PROPN
fbem-11013	299	13	zhang	zhang	PROPN
fbem-11013	299	14	,	,	PUNCT
fbem-11013	299	15	does	do	AUX
fbem-11013	299	16	we	we	PRON
fbem-11013	299	17	-	-	PUNCT
fbem-11013	299	18	media	medium	NOUN
fbem-11013	299	19	information	information	NOUN
fbem-11013	299	20	disclosure	disclosure	NOUN
fbem-11013	299	21	facilitate	facilitate	VERB
fbem-11013	299	22	the	the	DET
fbem-11013	299	23	high	high	ADJ
fbem-11013	299	24	merger	merger	NOUN
fbem-11013	299	25	and	and	CCONJ
fbem-11013	299	26	acquisition	acquisition	NOUN
fbem-11013	299	27	premium	premium	NOUN
fbem-11013	299	28	?	?	PUNCT
fbem-11013	300	1	—	—	PUNCT
fbem-11013	300	2	based	base	VERB
fbem-11013	300	3	on	on	ADP
fbem-11013	300	4	the	the	DET
fbem-11013	300	5	perspective	perspective	NOUN
fbem-11013	300	6	of	of	ADP
fbem-11013	300	7	m&a	m&a	PROPN
fbem-11013	300	8	types	type	NOUN
fbem-11013	300	9	.	.	PUNCT
fbem-11013	301	1	the	the	DET
fbem-11013	301	2	theory	theory	NOUN
fbem-11013	301	3	and	and	CCONJ
fbem-11013	301	4	practice	practice	NOUN
fbem-11013	301	5	of	of	ADP
fbem-11013	301	6	finance	finance	NOUN
fbem-11013	301	7	and	and	CCONJ
fbem-11013	301	8	economics	economic	NOUN
fbem-11013	301	9	,	,	PUNCT
fbem-11013	301	10	2023	2023	NUM
fbem-11013	301	11	.	.	PUNCT
fbem-11013	302	1	44(2	44(2	NOUN
fbem-11013	302	2	):	):	PUNCT
fbem-11013	303	1	p.	p.	NOUN
fbem-11013	303	2	61	61	NUM
fbem-11013	303	3	-	-	SYM
fbem-11013	303	4	70	70	NUM
fbem-11013	303	5	.	.	PUNCT
fbem-11013	304	1	[	[	X
fbem-11013	304	2	8	8	NUM
fbem-11013	304	3	]	]	X
fbem-11013	304	4	zhang	zhang	PROPN
fbem-11013	304	5	,	,	PUNCT
fbem-11013	304	6	y.	y.	PROPN
fbem-11013	304	7	and	and	CCONJ
fbem-11013	304	8	y.	y.	PROPN
fbem-11013	304	9	chen	chen	PROPN
fbem-11013	304	10	,	,	PUNCT
fbem-11013	304	11	a	a	DET
fbem-11013	304	12	study	study	NOUN
fbem-11013	304	13	on	on	ADP
fbem-11013	304	14	ceo	ceo	NOUN
fbem-11013	304	15	reputation	reputation	NOUN
fbem-11013	304	16	and	and	CCONJ
fbem-11013	304	17	corporate	corporate	ADJ
fbem-11013	304	18	m&a	m&a	PROPN
fbem-11013	304	19	premium	premium	NOUN
fbem-11013	304	20	.	.	PUNCT
fbem-11013	305	1	modern	modern	ADJ
fbem-11013	305	2	finance	finance	NOUN
fbem-11013	305	3	and	and	CCONJ
fbem-11013	305	4	economicsjournal	economicsjournal	ADJ
fbem-11013	305	5	of	of	ADP
fbem-11013	305	6	tianjin	tianjin	PROPN
fbem-11013	305	7	university	university	PROPN
fbem-11013	305	8	of	of	ADP
fbem-11013	305	9	finance	finance	NOUN
fbem-11013	305	10	and	and	CCONJ
fbem-11013	305	11	economics	economic	NOUN
fbem-11013	305	12	,	,	PUNCT
fbem-11013	305	13	2020	2020	NUM
fbem-11013	305	14	.	.	PUNCT
fbem-11013	306	1	40(4	40(4	NUM
fbem-11013	306	2	):	):	PUNCT
fbem-11013	306	3	p.	p.	NOUN
fbem-11013	306	4	64	64	NUM
fbem-11013	306	5	-	-	SYM
fbem-11013	306	6	81	81	NUM
fbem-11013	306	7	.	.	PUNCT
fbem-11013	307	1	[	[	X
fbem-11013	307	2	9	9	NUM
fbem-11013	307	3	]	]	SYM
fbem-11013	307	4	lu	lu	PROPN
fbem-11013	307	5	,	,	PUNCT
fbem-11013	307	6	z.	z.	PROPN
fbem-11013	307	7	,	,	PUNCT
fbem-11013	307	8	a	a	DET
fbem-11013	307	9	study	study	NOUN
fbem-11013	307	10	on	on	ADP
fbem-11013	307	11	the	the	DET
fbem-11013	307	12	relationship	relationship	NOUN
fbem-11013	307	13	between	between	ADP
fbem-11013	307	14	management	management	NOUN
fbem-11013	307	15	overconfidence	overconfidence	NOUN
fbem-11013	307	16	,	,	PUNCT
fbem-11013	307	17	corporate	corporate	ADJ
fbem-11013	307	18	governance	governance	NOUN
fbem-11013	307	19	,	,	PUNCT
fbem-11013	307	20	and	and	CCONJ
fbem-11013	307	21	m&a	m&a	PROPN
fbem-11013	307	22	primium	primium	NOUN
fbem-11013	307	23	:	:	PUNCT
fbem-11013	307	24	an	an	DET
fbem-11013	307	25	empirical	empirical	ADJ
fbem-11013	307	26	test	test	NOUN
fbem-11013	307	27	from	from	ADP
fbem-11013	307	28	chinese	chinese	PROPN
fbem-11013	307	29	a	a	PROPN
fbem-11013	307	30	-	-	PUNCT
fbem-11013	307	31	share	share	NOUN
fbem-11013	307	32	listed	list	VERB
fbem-11013	307	33	companies	company	NOUN
fbem-11013	307	34	.	.	PUNCT
fbem-11013	308	1	market	market	NOUN
fbem-11013	308	2	modernization	modernization	NOUN
fbem-11013	308	3	,	,	PUNCT
fbem-11013	308	4	2021	2021	NUM
fbem-11013	308	5	.	.	PUNCT
fbem-11013	309	1	948(15	948(15	NUM
fbem-11013	309	2	):	):	PUNCT
fbem-11013	309	3	p.	p.	NOUN
fbem-11013	309	4	61	61	NUM
fbem-11013	309	5	-	-	SYM
fbem-11013	309	6	66	66	NUM
fbem-11013	309	7	.	.	PUNCT
fbem-11013	310	1	[	[	X
fbem-11013	310	2	10	10	NUM
fbem-11013	310	3	]	]	X
fbem-11013	310	4	li	li	PROPN
fbem-11013	310	5	,	,	PUNCT
fbem-11013	310	6	s.	s.	PROPN
fbem-11013	310	7	,	,	PUNCT
fbem-11013	310	8	z.	z.	PROPN
fbem-11013	310	9	huang	huang	PROPN
fbem-11013	310	10	,	,	PUNCT
fbem-11013	310	11	and	and	CCONJ
fbem-11013	310	12	j.	j.	PROPN
fbem-11013	310	13	guo	guo	PROPN
fbem-11013	310	14	,	,	PUNCT
fbem-11013	310	15	capital	capital	NOUN
fbem-11013	310	16	market	market	NOUN
fbem-11013	310	17	pricing	pricing	NOUN
fbem-11013	310	18	and	and	CCONJ
fbem-11013	310	19	corporate	corporate	ADJ
fbem-11013	310	20	acquisitions	acquisition	NOUN
fbem-11013	310	21	:	:	PUNCT
fbem-11013	310	22	evidence	evidence	NOUN
fbem-11013	310	23	from	from	ADP
fbem-11013	310	24	chinese	chinese	PROPN
fbem-11013	310	25	a	a	DET
fbem-11013	310	26	-	-	PUNCT
fbem-11013	310	27	share	share	NOUN
fbem-11013	310	28	firms	firm	NOUN
fbem-11013	310	29	.	.	PUNCT
fbem-11013	310	30	economic	economic	ADJ
fbem-11013	310	31	research	research	NOUN
fbem-11013	310	32	journal	journal	NOUN
fbem-11013	310	33	2020	2020	NUM
fbem-11013	310	34	.	.	PUNCT
fbem-11013	311	1	55(7	55(7	NUM
fbem-11013	311	2	):	):	PUNCT
fbem-11013	311	3	p.	p.	NOUN
fbem-11013	311	4	41	41	NUM
fbem-11013	311	5	-	-	SYM
fbem-11013	311	6	57	57	NUM
fbem-11013	311	7	.	.	PUNCT
fbem-11013	312	1	[	[	X
fbem-11013	312	2	11	11	NUM
fbem-11013	312	3	]	]	PUNCT
fbem-11013	312	4	choi	choi	NOUN
fbem-11013	312	5	,	,	PUNCT
fbem-11013	312	6	s.h	s.h	PROPN
fbem-11013	312	7	.	.	PROPN
fbem-11013	312	8	and	and	CCONJ
fbem-11013	312	9	b.n	b.n	PROPN
fbem-11013	312	10	.	.	PROPN
fbem-11013	312	11	jeon	jeon	PROPN
fbem-11013	312	12	,	,	PUNCT
fbem-11013	312	13	the	the	DET
fbem-11013	312	14	impact	impact	NOUN
fbem-11013	312	15	of	of	ADP
fbem-11013	312	16	the	the	DET
fbem-11013	312	17	macroeconomic	macroeconomic	ADJ
fbem-11013	312	18	environment	environment	NOUN
fbem-11013	312	19	on	on	ADP
fbem-11013	312	20	merger	merger	NOUN
fbem-11013	312	21	activity	activity	NOUN
fbem-11013	312	22	:	:	PUNCT
fbem-11013	312	23	evidence	evidence	NOUN
fbem-11013	312	24	from	from	ADP
fbem-11013	312	25	us	we	PRON
fbem-11013	312	26	time	time	NOUN
fbem-11013	312	27	-	-	PUNCT
fbem-11013	312	28	series	series	NOUN
fbem-11013	312	29	data	data	PROPN
fbem-11013	312	30	.	.	PUNCT
fbem-11013	313	1	applied	apply	VERB
fbem-11013	313	2	financial	financial	ADJ
fbem-11013	313	3	economics	economic	NOUN
fbem-11013	313	4	,	,	PUNCT
fbem-11013	313	5	2011	2011	NUM
fbem-11013	313	6	.	.	PUNCT
fbem-11013	314	1	21(4	21(4	NUM
fbem-11013	314	2	):	):	PUNCT
fbem-11013	314	3	p.	p.	NOUN
fbem-11013	314	4	233	233	NUM
fbem-11013	314	5	-	-	SYM
fbem-11013	314	6	249	249	NUM
fbem-11013	314	7	.	.	PUNCT
fbem-11013	315	1	[	[	X
fbem-11013	315	2	12	12	NUM
fbem-11013	315	3	]	]	X
fbem-11013	315	4	kumar	kumar	PROPN
fbem-11013	315	5	,	,	PUNCT
fbem-11013	315	6	d.	d.	PROPN
fbem-11013	315	7	,	,	PUNCT
fbem-11013	315	8	k.	k.	PROPN
fbem-11013	315	9	sengupta	sengupta	PROPN
fbem-11013	315	10	,	,	PUNCT
fbem-11013	315	11	and	and	CCONJ
fbem-11013	315	12	m.	m.	PROPN
fbem-11013	315	13	bhattacharya	bhattacharya	PROPN
fbem-11013	315	14	,	,	PUNCT
fbem-11013	315	15	macroeconomic	macroeconomic	ADJ
fbem-11013	315	16	influences	influence	NOUN
fbem-11013	315	17	on	on	ADP
fbem-11013	315	18	m&a	m&a	PROPN
fbem-11013	315	19	deal	deal	VERB
fbem-11013	315	20	outcomes	outcome	NOUN
fbem-11013	315	21	:	:	PUNCT
fbem-11013	315	22	an	an	DET
fbem-11013	315	23	analysis	analysis	NOUN
fbem-11013	315	24	of	of	ADP
fbem-11013	315	25	domestic	domestic	ADJ
fbem-11013	315	26	and	and	CCONJ
fbem-11013	315	27	cross	cross	ADJ
fbem-11013	315	28	-	-	ADJ
fbem-11013	315	29	border	border	ADJ
fbem-11013	315	30	m&as	m&as	NOUN
fbem-11013	315	31	in	in	ADP
fbem-11013	315	32	developed	developed	ADJ
fbem-11013	315	33	and	and	CCONJ
fbem-11013	315	34	emerging	emerge	VERB
fbem-11013	315	35	economies	economy	NOUN
fbem-11013	315	36	.	.	PUNCT
fbem-11013	316	1	journal	journal	NOUN
fbem-11013	316	2	of	of	ADP
fbem-11013	316	3	business	business	NOUN
fbem-11013	316	4	research	research	NOUN
fbem-11013	316	5	,	,	PUNCT
fbem-11013	316	6	2023	2023	NUM
fbem-11013	316	7	.	.	PUNCT
fbem-11013	317	1	161	161	NUM
fbem-11013	317	2	:	:	PUNCT
fbem-11013	317	3	p.	p.	NOUN
fbem-11013	317	4	113831	113831	NUM
fbem-11013	317	5	.	.	PUNCT
fbem-11013	318	1	[	[	X
fbem-11013	318	2	13	13	NUM
fbem-11013	318	3	]	]	SYM
fbem-11013	318	4	tampakoudis	tampakoudis	PROPN
fbem-11013	318	5	,	,	PUNCT
fbem-11013	318	6	i.	i.	PROPN
fbem-11013	318	7	and	and	CCONJ
fbem-11013	318	8	e.	e.	PROPN
fbem-11013	318	9	anagnostopoulou	anagnostopoulou	PROPN
fbem-11013	318	10	,	,	PUNCT
fbem-11013	318	11	the	the	DET
fbem-11013	318	12	effect	effect	NOUN
fbem-11013	318	13	of	of	ADP
fbem-11013	318	14	mergers	merger	NOUN
fbem-11013	318	15	and	and	CCONJ
fbem-11013	318	16	acquisitions	acquisition	NOUN
fbem-11013	318	17	on	on	ADP
fbem-11013	318	18	environmental	environmental	ADJ
fbem-11013	318	19	,	,	PUNCT
fbem-11013	318	20	social	social	ADJ
fbem-11013	318	21	and	and	CCONJ
fbem-11013	318	22	governance	governance	NOUN
fbem-11013	318	23	performance	performance	NOUN
fbem-11013	318	24	and	and	CCONJ
fbem-11013	318	25	market	market	NOUN
fbem-11013	318	26	value	value	NOUN
fbem-11013	318	27	:	:	PUNCT
fbem-11013	318	28	evidence	evidence	NOUN
fbem-11013	318	29	from	from	ADP
fbem-11013	318	30	eu	eu	PROPN
fbem-11013	318	31	acquirers	acquirer	NOUN
fbem-11013	318	32	.	.	PUNCT
fbem-11013	319	1	business	business	NOUN
fbem-11013	319	2	strategy	strategy	NOUN
fbem-11013	319	3	and	and	CCONJ
fbem-11013	319	4	the	the	DET
fbem-11013	319	5	environment	environment	NOUN
fbem-11013	319	6	,	,	PUNCT
fbem-11013	319	7	2020	2020	NUM
fbem-11013	319	8	.	.	PUNCT
fbem-11013	320	1	29(5	29(5	NUM
fbem-11013	320	2	):	):	PUNCT
fbem-11013	320	3	p.	p.	NOUN
fbem-11013	320	4	1865	1865	NUM
fbem-11013	320	5	-	-	SYM
fbem-11013	320	6	1875	1875	NUM
fbem-11013	320	7	.	.	PUNCT
fbem-11013	321	1	[	[	X
fbem-11013	321	2	14	14	NUM
fbem-11013	321	3	]	]	SYM
fbem-11013	321	4	li	li	PROPN
fbem-11013	321	5	,	,	PUNCT
fbem-11013	321	6	g.	g.	PROPN
fbem-11013	321	7	,	,	PUNCT
fbem-11013	321	8	m.	m.	NOUN
fbem-11013	321	9	xiao	xiao	PROPN
fbem-11013	321	10	,	,	PUNCT
fbem-11013	321	11	and	and	CCONJ
fbem-11013	321	12	s.	s.	PROPN
fbem-11013	321	13	mao	mao	PROPN
fbem-11013	321	14	,	,	PUNCT
fbem-11013	321	15	research	research	NOUN
fbem-11013	321	16	on	on	ADP
fbem-11013	321	17	the	the	DET
fbem-11013	321	18	impact	impact	NOUN
fbem-11013	321	19	of	of	ADP
fbem-11013	321	20	market	market	NOUN
fbem-11013	321	21	bubbles	bubble	NOUN
fbem-11013	321	22	on	on	ADP
fbem-11013	321	23	m&a	m&a	PROPN
fbem-11013	321	24	performance	performance	NOUN
fbem-11013	321	25	of	of	ADP
fbem-11013	321	26	acquirers	acquirer	NOUN
fbem-11013	321	27	in	in	ADP
fbem-11013	321	28	china	china	PROPN
fbem-11013	321	29	.	.	PUNCT
fbem-11013	322	1	on	on	ADP
fbem-11013	322	2	economic	economic	ADJ
fbem-11013	322	3	problems	problem	NOUN
fbem-11013	322	4	,	,	PUNCT
fbem-11013	322	5	2022	2022	NUM
fbem-11013	322	6	.	.	PUNCT
fbem-11013	323	1	5	5	NUM
fbem-11013	323	2	:	:	PUNCT
fbem-11013	323	3	p.	p.	NOUN
fbem-11013	323	4	119	119	NUM
fbem-11013	323	5	-	-	SYM
fbem-11013	323	6	129	129	NUM
fbem-11013	323	7	.	.	PUNCT
fbem-11013	324	1	[	[	X
fbem-11013	324	2	15	15	NUM
fbem-11013	324	3	]	]	X
fbem-11013	324	4	zeng	zeng	PROPN
fbem-11013	324	5	,	,	PUNCT
fbem-11013	324	6	j.	j.	PROPN
fbem-11013	324	7	,	,	PUNCT
fbem-11013	324	8	q.	q.	PROPN
fbem-11013	324	9	zeng	zeng	PROPN
fbem-11013	324	10	,	,	PUNCT
fbem-11013	324	11	and	and	CCONJ
fbem-11013	324	12	x.	x.	PROPN
fbem-11013	324	13	huang	huang	PROPN
fbem-11013	324	14	,	,	PUNCT
fbem-11013	324	15	market	market	NOUN
fbem-11013	324	16	mispricing	misprice	VERB
fbem-11013	324	17	，	，	PUNCT
fbem-11013	324	18	payment	payment	NOUN
fbem-11013	324	19	methods	method	NOUN
fbem-11013	324	20	and	and	CCONJ
fbem-11013	324	21	goodwill	goodwill	NOUN
fbem-11013	324	22	of	of	ADP
fbem-11013	324	23	m&a	m&a	PROPN
fbem-11013	324	24	:	:	PUNCT
fbem-11013	324	25	the	the	DET
fbem-11013	324	26	adjustment	adjustment	NOUN
fbem-11013	324	27	based	base	VERB
fbem-11013	324	28	on	on	ADP
fbem-11013	324	29	growth	growth	NOUN
fbem-11013	324	30	.	.	PUNCT
fbem-11013	325	1	modern	modern	ADJ
fbem-11013	325	2	finance	finance	NOUN
fbem-11013	325	3	and	and	CCONJ
fbem-11013	325	4	economics	economic	NOUN
fbem-11013	325	5	-	-	PUNCT
fbem-11013	325	6	journal	journal	NOUN
fbem-11013	325	7	of	of	ADP
fbem-11013	325	8	tianjin	tianjin	PROPN
fbem-11013	325	9	university	university	PROPN
fbem-11013	325	10	of	of	ADP
fbem-11013	325	11	finance	finance	NOUN
fbem-11013	325	12	and	and	CCONJ
fbem-11013	325	13	economics	economic	NOUN
fbem-11013	325	14	,	,	PUNCT
fbem-11013	325	15	2020	2020	NUM
fbem-11013	325	16	.	.	PUNCT
fbem-11013	326	1	370(11	370(11	NUM
fbem-11013	326	2	):	):	PUNCT
fbem-11013	326	3	p.	p.	NOUN
fbem-11013	326	4	79	79	NUM
fbem-11013	326	5	-	-	SYM
fbem-11013	326	6	97	97	NUM
fbem-11013	326	7	.	.	PUNCT
fbem-11013	327	1	[	[	X
fbem-11013	327	2	16	16	NUM
fbem-11013	327	3	]	]	PUNCT
fbem-11013	327	4	xu	xu	PROPN
fbem-11013	327	5	,	,	PUNCT
fbem-11013	327	6	t.	t.	PROPN
fbem-11013	327	7	and	and	CCONJ
fbem-11013	327	8	s.	s.	PROPN
fbem-11013	327	9	zhu	zhu	PROPN
fbem-11013	327	10	,	,	PUNCT
fbem-11013	327	11	capital	capital	NOUN
fbem-11013	327	12	market	market	NOUN
fbem-11013	327	13	mispricing	misprice	VERB
fbem-11013	327	14	and	and	CCONJ
fbem-11013	327	15	corporate	corporate	ADJ
fbem-11013	327	16	financial	financial	ADJ
fbem-11013	327	17	asset	asset	NOUN
fbem-11013	327	18	investment	investment	NOUN
fbem-11013	327	19	journal	journal	NOUN
fbem-11013	327	20	of	of	ADP
fbem-11013	327	21	northeastern	northeastern	ADJ
fbem-11013	327	22	university	university	PROPN
fbem-11013	327	23	(	(	PUNCT
fbem-11013	327	24	social	social	ADJ
fbem-11013	327	25	science	science	NOUN
fbem-11013	327	26	)	)	PUNCT
fbem-11013	327	27	,	,	PUNCT
fbem-11013	327	28	2023	2023	NUM
fbem-11013	327	29	.	.	PUNCT
fbem-11013	328	1	25(2	25(2	NUM
fbem-11013	328	2	):	):	PUNCT
fbem-11013	328	3	p.	p.	NOUN
fbem-11013	328	4	33	33	NUM
fbem-11013	328	5	-	-	SYM
fbem-11013	328	6	42	42	NUM
fbem-11013	328	7	.	.	PUNCT
fbem-11013	329	1	[	[	X
fbem-11013	329	2	17	17	NUM
fbem-11013	329	3	]	]	X
fbem-11013	329	4	fu	fu	PROPN
fbem-11013	329	5	,	,	PUNCT
fbem-11013	329	6	l.	l.	PROPN
fbem-11013	329	7	and	and	CCONJ
fbem-11013	329	8	y.	y.	PROPN
fbem-11013	329	9	xia	xia	PROPN
fbem-11013	329	10	,	,	PUNCT
fbem-11013	329	11	a	a	DET
fbem-11013	329	12	study	study	NOUN
fbem-11013	329	13	of	of	ADP
fbem-11013	329	14	merger	merger	NOUN
fbem-11013	329	15	and	and	CCONJ
fbem-11013	329	16	acquisition	acquisition	NOUN
fbem-11013	329	17	policies	policy	NOUN
fbem-11013	329	18	driven	drive	VERB
fbem-11013	329	19	by	by	ADP
fbem-11013	329	20	the	the	DET
fbem-11013	329	21	industry	industry	NOUN
fbem-11013	329	22	-	-	PUNCT
fbem-11013	329	23	wide	wide	ADJ
fbem-11013	329	24	market	market	NOUN
fbem-11013	329	25	mispricing	mispricing	NOUN
fbem-11013	329	26	.	.	PUNCT
fbem-11013	330	1	humanities	humanity	NOUN
fbem-11013	330	2	＆	＆	PROPN
fbem-11013	330	3	256	256	NUM
fbem-11013	330	4	social	social	ADJ
fbem-11013	330	5	sciences	sciences	PROPN
fbem-11013	330	6	journal	journal	PROPN
fbem-11013	330	7	of	of	ADP
fbem-11013	330	8	hainan	hainan	PROPN
fbem-11013	330	9	university	university	PROPN
fbem-11013	330	10	2017	2017	NUM
fbem-11013	330	11	.	.	PUNCT
fbem-11013	331	1	35(5	35(5	NUM
fbem-11013	331	2	):	):	PUNCT
fbem-11013	332	1	p.	p.	NOUN
fbem-11013	332	2	45	45	NUM
fbem-11013	332	3	-	-	SYM
fbem-11013	332	4	54	54	NUM
fbem-11013	332	5	.	.	PUNCT
fbem-11013	333	1	[	[	X
fbem-11013	333	2	18	18	NUM
fbem-11013	333	3	]	]	SYM
fbem-11013	333	4	campello	campello	PROPN
fbem-11013	333	5	,	,	PUNCT
fbem-11013	333	6	m.	m.	NOUN
fbem-11013	333	7	and	and	CCONJ
fbem-11013	333	8	j.r	j.r	PROPN
fbem-11013	333	9	.	.	PROPN
fbem-11013	333	10	graham	graham	PROPN
fbem-11013	333	11	,	,	PUNCT
fbem-11013	333	12	do	do	AUX
fbem-11013	333	13	stock	stock	NOUN
fbem-11013	333	14	prices	price	NOUN
fbem-11013	333	15	influence	influence	VERB
fbem-11013	333	16	corporate	corporate	ADJ
fbem-11013	333	17	decisions	decision	NOUN
fbem-11013	333	18	?	?	PUNCT
fbem-11013	334	1	evidence	evidence	NOUN
fbem-11013	334	2	from	from	ADP
fbem-11013	334	3	the	the	DET
fbem-11013	334	4	technology	technology	NOUN
fbem-11013	334	5	bubble	bubble	NOUN
fbem-11013	334	6	.	.	PUNCT
fbem-11013	335	1	journal	journal	PROPN
fbem-11013	335	2	of	of	ADP
fbem-11013	335	3	financial	financial	ADJ
fbem-11013	335	4	economics	economic	NOUN
fbem-11013	335	5	,	,	PUNCT
fbem-11013	335	6	2013	2013	NUM
fbem-11013	335	7	.	.	PUNCT
fbem-11013	336	1	107(1	107(1	NUM
fbem-11013	336	2	):	):	PUNCT
fbem-11013	336	3	p.	p.	NOUN
fbem-11013	336	4	89	89	NUM
fbem-11013	336	5	-	-	SYM
fbem-11013	336	6	110	110	NUM
fbem-11013	336	7	.	.	PUNCT
fbem-11013	337	1	[	[	X
fbem-11013	337	2	19	19	NUM
fbem-11013	337	3	]	]	X
fbem-11013	337	4	botsari	botsari	NOUN
fbem-11013	337	5	,	,	PUNCT
fbem-11013	337	6	a.	a.	NOUN
fbem-11013	337	7	and	and	CCONJ
fbem-11013	337	8	g.	g.	PROPN
fbem-11013	337	9	meeks	meeks	PROPN
fbem-11013	337	10	,	,	PUNCT
fbem-11013	337	11	acquirers	acquirer	NOUN
fbem-11013	337	12	’	’	PART
fbem-11013	337	13	earnings	earning	NOUN
fbem-11013	337	14	management	management	NOUN
fbem-11013	337	15	ahead	ahead	ADV
fbem-11013	337	16	of	of	ADP
fbem-11013	337	17	stock	stock	NOUN
fbem-11013	337	18	-	-	PUNCT
fbem-11013	337	19	for	for	ADP
fbem-11013	337	20	-	-	PUNCT
fbem-11013	337	21	stock	stock	NOUN
fbem-11013	337	22	bids	bid	NOUN
fbem-11013	337	23	in	in	ADP
fbem-11013	337	24	‘	'	PUNCT
fbem-11013	337	25	hot’and	hot’and	ADJ
fbem-11013	337	26	‘	'	PUNCT
fbem-11013	337	27	cold’markets	cold’market	NOUN
fbem-11013	337	28	.	.	PUNCT
fbem-11013	337	29	journal	journal	NOUN
fbem-11013	337	30	of	of	ADP
fbem-11013	337	31	accounting	accounting	NOUN
fbem-11013	337	32	and	and	CCONJ
fbem-11013	337	33	public	public	ADJ
fbem-11013	337	34	policy	policy	NOUN
fbem-11013	337	35	,	,	PUNCT
fbem-11013	337	36	2018	2018	NUM
fbem-11013	337	37	.	.	PUNCT
fbem-11013	338	1	37(5	37(5	NUM
fbem-11013	338	2	):	):	PUNCT
fbem-11013	338	3	p.	p.	NOUN
fbem-11013	338	4	355375	355375	NUM
fbem-11013	338	5	.	.	PUNCT
fbem-11013	339	1	[	[	X
fbem-11013	339	2	20	20	NUM
fbem-11013	339	3	]	]	PUNCT
fbem-11013	339	4	chuang	chuang	PROPN
fbem-11013	339	5	,	,	PUNCT
fbem-11013	339	6	k.-s	k.-s	PROPN
fbem-11013	339	7	.	.	PROPN
fbem-11013	339	8	,	,	PUNCT
fbem-11013	339	9	glamour	glamour	NOUN
fbem-11013	339	10	versus	versus	ADP
fbem-11013	339	11	value	value	NOUN
fbem-11013	339	12	,	,	PUNCT
fbem-11013	339	13	market	market	NOUN
fbem-11013	339	14	timing	timing	NOUN
fbem-11013	339	15	and	and	CCONJ
fbem-11013	339	16	firm	firm	ADJ
fbem-11013	339	17	performance	performance	NOUN
fbem-11013	339	18	:	:	PUNCT
fbem-11013	339	19	evidence	evidence	NOUN
fbem-11013	339	20	from	from	ADP
fbem-11013	339	21	mergers	merger	NOUN
fbem-11013	339	22	and	and	CCONJ
fbem-11013	339	23	acquisitions	acquisition	NOUN
fbem-11013	339	24	.	.	PUNCT
fbem-11013	340	1	review	review	NOUN
fbem-11013	340	2	of	of	ADP
fbem-11013	340	3	quantitative	quantitative	ADJ
fbem-11013	340	4	finance	finance	NOUN
fbem-11013	340	5	and	and	CCONJ
fbem-11013	340	6	accounting	accounting	NOUN
fbem-11013	340	7	,	,	PUNCT
fbem-11013	340	8	2018	2018	NUM
fbem-11013	340	9	.	.	PUNCT
fbem-11013	341	1	51	51	NUM
fbem-11013	341	2	:	:	PUNCT
fbem-11013	341	3	p.	p.	NOUN
fbem-11013	341	4	967	967	NUM
fbem-11013	341	5	-	-	SYM
fbem-11013	341	6	1003	1003	NUM
fbem-11013	341	7	.	.	PUNCT
fbem-11013	342	1	[	[	X
fbem-11013	342	2	21	21	NUM
fbem-11013	342	3	]	]	X
fbem-11013	342	4	fu	fu	PROPN
fbem-11013	342	5	,	,	PUNCT
fbem-11013	342	6	l.	l.	PROPN
fbem-11013	342	7	and	and	CCONJ
fbem-11013	342	8	q.	q.	PROPN
fbem-11013	342	9	wang	wang	PROPN
fbem-11013	342	10	,	,	PUNCT
fbem-11013	342	11	driving	drive	VERB
fbem-11013	342	12	factors	factor	NOUN
fbem-11013	342	13	of	of	ADP
fbem-11013	342	14	merger	merger	NOUN
fbem-11013	342	15	momentum	momentum	NOUN
fbem-11013	342	16	in	in	ADP
fbem-11013	342	17	china	china	PROPN
fbem-11013	342	18	:	:	PUNCT
fbem-11013	342	19	empirical	empirical	ADJ
fbem-11013	342	20	evidence	evidence	NOUN
fbem-11013	342	21	from	from	ADP
fbem-11013	342	22	listed	list	VERB
fbem-11013	342	23	companies	company	NOUN
fbem-11013	342	24	.	.	PUNCT
fbem-11013	343	1	china	china	PROPN
fbem-11013	343	2	finance	finance	PROPN
fbem-11013	343	3	review	review	PROPN
fbem-11013	343	4	international	international	ADJ
fbem-11013	343	5	,	,	PUNCT
fbem-11013	343	6	2019	2019	NUM
fbem-11013	343	7	.	.	PUNCT
fbem-11013	344	1	9(2	9(2	NUM
fbem-11013	344	2	):	):	PUNCT
fbem-11013	344	3	p.	p.	NOUN
fbem-11013	344	4	235	235	NUM
fbem-11013	344	5	-	-	SYM
fbem-11013	344	6	253	253	NUM
fbem-11013	344	7	.	.	PUNCT
fbem-11013	345	1	[	[	X
fbem-11013	345	2	22	22	NUM
fbem-11013	345	3	]	]	PUNCT
fbem-11013	345	4	tuncay	tuncay	NOUN
fbem-11013	345	5	,	,	PUNCT
fbem-11013	345	6	e.	e.	PROPN
fbem-11013	345	7	,	,	PUNCT
fbem-11013	345	8	m.	m.	NOUN
fbem-11013	345	9	karan	karan	PROPN
fbem-11013	345	10	,	,	PUNCT
fbem-11013	345	11	and	and	CCONJ
fbem-11013	345	12	e.m	e.m	PROPN
fbem-11013	345	13	.	.	PROPN
fbem-11013	345	14	aydin	aydin	PROPN
fbem-11013	345	15	,	,	PUNCT
fbem-11013	345	16	underpricing	underprice	VERB
fbem-11013	345	17	of	of	ADP
fbem-11013	345	18	initial	initial	ADJ
fbem-11013	345	19	public	public	ADJ
fbem-11013	345	20	offerings	offering	NOUN
fbem-11013	345	21	in	in	ADP
fbem-11013	345	22	hot	hot	ADJ
fbem-11013	345	23	and	and	CCONJ
fbem-11013	345	24	cold	cold	ADJ
fbem-11013	345	25	markets	market	NOUN
fbem-11013	345	26	:	:	PUNCT
fbem-11013	345	27	an	an	DET
fbem-11013	345	28	empirical	empirical	ADJ
fbem-11013	345	29	study	study	NOUN
fbem-11013	345	30	on	on	ADP
fbem-11013	345	31	borsa	borsa	PROPN
fbem-11013	345	32	istanbul	istanbul	PROPN
fbem-11013	345	33	.	.	PUNCT
fbem-11013	346	1	the	the	DET
fbem-11013	346	2	central	central	ADJ
fbem-11013	346	3	european	european	PROPN
fbem-11013	346	4	review	review	NOUN
fbem-11013	346	5	of	of	ADP
fbem-11013	346	6	economics	economic	NOUN
fbem-11013	346	7	and	and	CCONJ
fbem-11013	346	8	management	management	NOUN
fbem-11013	346	9	,	,	PUNCT
fbem-11013	346	10	2020	2020	NUM
fbem-11013	346	11	.	.	PUNCT
fbem-11013	347	1	4(2	4(2	NUM
fbem-11013	347	2	):	):	PUNCT
fbem-11013	348	1	p.	p.	NOUN
fbem-11013	348	2	107	107	NUM
fbem-11013	348	3	-	-	SYM
fbem-11013	348	4	135	135	NUM
fbem-11013	348	5	.	.	PUNCT
fbem-11013	349	1	[	[	X
fbem-11013	349	2	23	23	NUM
fbem-11013	349	3	]	]	X
fbem-11013	349	4	singh	singh	PROPN
fbem-11013	349	5	,	,	PUNCT
fbem-11013	349	6	s.	s.	PROPN
fbem-11013	349	7	and	and	CCONJ
fbem-11013	349	8	s.	s.	PROPN
fbem-11013	349	9	dhanda	dhanda	PROPN
fbem-11013	349	10	,	,	PUNCT
fbem-11013	349	11	hot	hot	ADJ
fbem-11013	349	12	and	and	CCONJ
fbem-11013	349	13	cold	cold	ADJ
fbem-11013	349	14	ipo	ipo	NOUN
fbem-11013	349	15	markets	market	NOUN
fbem-11013	349	16	:	:	PUNCT
fbem-11013	349	17	evidence	evidence	NOUN
fbem-11013	349	18	from	from	ADP
fbem-11013	349	19	india	india	PROPN
fbem-11013	349	20	.	.	PUNCT
fbem-11013	350	1	vidyabharati	vidyabharati	PROPN
fbem-11013	350	2	international	international	ADJ
fbem-11013	350	3	interdisciplinary	interdisciplinary	ADJ
fbem-11013	350	4	research	research	NOUN
fbem-11013	350	5	journal	journal	NOUN
fbem-11013	350	6	,	,	PUNCT
fbem-11013	350	7	2021	2021	NUM
fbem-11013	350	8	.	.	PUNCT
fbem-11013	351	1	13(1	13(1	X
fbem-11013	351	2	):	):	PUNCT
fbem-11013	352	1	p.	p.	NOUN
fbem-11013	352	2	39	39	NUM
fbem-11013	352	3	-	-	SYM
fbem-11013	352	4	51	51	NUM
fbem-11013	352	5	.	.	PUNCT
fbem-11013	353	1	[	[	X
fbem-11013	353	2	24	24	NUM
fbem-11013	353	3	]	]	PUNCT
fbem-11013	353	4	pungkaswati	pungkaswati	NOUN
fbem-11013	353	5	,	,	PUNCT
fbem-11013	353	6	h.d	h.d	PROPN
fbem-11013	353	7	.	.	PROPN
fbem-11013	353	8	,	,	PUNCT
fbem-11013	353	9	analisis	analisis	NOUN
fbem-11013	353	10	informasi	informasi	NOUN
fbem-11013	353	11	return	return	NOUN
fbem-11013	353	12	on	on	ADP
fbem-11013	353	13	equity	equity	NOUN
fbem-11013	353	14	(	(	PUNCT
fbem-11013	353	15	roe	roe	PROPN
fbem-11013	353	16	)	)	PUNCT
fbem-11013	353	17	dan	dan	PROPN
fbem-11013	353	18	debt	debt	PROPN
fbem-11013	353	19	to	to	ADP
fbem-11013	353	20	total	total	ADJ
fbem-11013	353	21	asset	asset	NOUN
fbem-11013	353	22	ratio	ratio	NOUN
fbem-11013	353	23	(	(	PUNCT
fbem-11013	353	24	dar	dar	NOUN
fbem-11013	353	25	)	)	PUNCT
fbem-11013	353	26	terhadap	terhadap	PROPN
fbem-11013	353	27	initial	initial	ADJ
fbem-11013	353	28	return	return	PROPN
fbem-11013	353	29	dalam	dalam	PROPN
fbem-11013	353	30	kondisi	kondisi	ADJ
fbem-11013	353	31	hot	hot	ADJ
fbem-11013	353	32	and	and	CCONJ
fbem-11013	353	33	cold	cold	ADJ
fbem-11013	353	34	market	market	NOUN
fbem-11013	353	35	(	(	PUNCT
fbem-11013	353	36	studi	studi	PROPN
fbem-11013	353	37	pada	pada	PROPN
fbem-11013	353	38	perusahaan	perusahaan	PROPN
fbem-11013	353	39	yang	yang	PROPN
fbem-11013	353	40	melakukan	melakukan	PROPN
fbem-11013	353	41	ipo	ipo	PROPN
fbem-11013	353	42	di	di	PROPN
fbem-11013	353	43	bei	bei	VERB
fbem-11013	353	44	tahun	tahun	PROPN
fbem-11013	353	45	2000	2000	NUM
fbem-11013	353	46	-	-	SYM
fbem-11013	353	47	2016	2016	NUM
fbem-11013	353	48	)	)	PUNCT
fbem-11013	353	49	.	.	PUNCT
fbem-11013	354	1	2018	2018	NUM
fbem-11013	354	2	,	,	PUNCT
fbem-11013	354	3	universitas	universita	NOUN
fbem-11013	354	4	negeri	negeri	PROPN
fbem-11013	354	5	malang	malang	PROPN
fbem-11013	354	6	.	.	PUNCT
fbem-11013	355	1	[	[	X
fbem-11013	355	2	25	25	NUM
fbem-11013	355	3	]	]	X
fbem-11013	355	4	krishnamurti	krishnamurti	PROPN
fbem-11013	355	5	,	,	PUNCT
fbem-11013	355	6	c.	c.	PROPN
fbem-11013	355	7	,	,	PUNCT
fbem-11013	355	8	et	et	PROPN
fbem-11013	355	9	al	al	PROPN
fbem-11013	355	10	.	.	PROPN
fbem-11013	355	11	,	,	PUNCT
fbem-11013	355	12	socially	socially	ADV
fbem-11013	355	13	responsible	responsible	ADJ
fbem-11013	355	14	firms	firm	NOUN
fbem-11013	355	15	and	and	CCONJ
fbem-11013	355	16	mergers	merger	NOUN
fbem-11013	355	17	and	and	CCONJ
fbem-11013	355	18	acquisitions	acquisition	NOUN
fbem-11013	355	19	performance	performance	NOUN
fbem-11013	355	20	:	:	PUNCT
fbem-11013	355	21	australian	australian	ADJ
fbem-11013	355	22	evidence	evidence	NOUN
fbem-11013	355	23	.	.	PUNCT
fbem-11013	356	1	pacificbasin	pacificbasin	PROPN
fbem-11013	356	2	finance	finance	PROPN
fbem-11013	356	3	journal	journal	NOUN
fbem-11013	356	4	,	,	PUNCT
fbem-11013	356	5	2019	2019	NUM
fbem-11013	356	6	.	.	PUNCT
fbem-11013	357	1	57	57	NUM
fbem-11013	357	2	:	:	PUNCT
fbem-11013	357	3	p.	p.	NOUN
fbem-11013	357	4	101193	101193	NUM
fbem-11013	357	5	.	.	PUNCT
fbem-11013	358	1	[	[	X
fbem-11013	358	2	26	26	NUM
fbem-11013	358	3	]	]	X
fbem-11013	358	4	aggarwal	aggarwal	NOUN
fbem-11013	358	5	,	,	PUNCT
fbem-11013	358	6	p.	p.	NOUN
fbem-11013	358	7	and	and	CCONJ
fbem-11013	358	8	s.	s.	PROPN
fbem-11013	358	9	garg	garg	PROPN
fbem-11013	358	10	,	,	PUNCT
fbem-11013	358	11	impact	impact	NOUN
fbem-11013	358	12	of	of	ADP
fbem-11013	358	13	mergers	merger	NOUN
fbem-11013	358	14	and	and	CCONJ
fbem-11013	358	15	acquisitions	acquisition	NOUN
fbem-11013	358	16	on	on	ADP
fbem-11013	358	17	accounting	accounting	NOUN
fbem-11013	358	18	-	-	PUNCT
fbem-11013	358	19	based	base	VERB
fbem-11013	358	20	performance	performance	NOUN
fbem-11013	358	21	of	of	ADP
fbem-11013	358	22	acquiring	acquire	VERB
fbem-11013	358	23	firms	firm	NOUN
fbem-11013	358	24	in	in	ADP
fbem-11013	358	25	india	india	PROPN
fbem-11013	358	26	.	.	PUNCT
fbem-11013	359	1	global	global	ADJ
fbem-11013	359	2	business	business	PROPN
fbem-11013	359	3	review	review	PROPN
fbem-11013	359	4	,	,	PUNCT
fbem-11013	359	5	2022	2022	NUM
fbem-11013	359	6	.	.	PUNCT
fbem-11013	360	1	23(1	23(1	ADV
fbem-11013	360	2	):	):	PUNCT
fbem-11013	360	3	p.	p.	NOUN
fbem-11013	360	4	218	218	NUM
fbem-11013	360	5	-	-	SYM
fbem-11013	360	6	236	236	NUM
fbem-11013	360	7	.	.	PUNCT
fbem-11013	361	1	[	[	X
fbem-11013	361	2	27	27	NUM
fbem-11013	361	3	]	]	SYM
fbem-11013	361	4	borodin	borodin	NOUN
fbem-11013	361	5	,	,	PUNCT
fbem-11013	361	6	a.	a.	NOUN
fbem-11013	361	7	,	,	PUNCT
fbem-11013	361	8	et	et	PROPN
fbem-11013	361	9	al	al	PROPN
fbem-11013	361	10	.	.	PROPN
fbem-11013	361	11	,	,	PUNCT
fbem-11013	361	12	impact	impact	NOUN
fbem-11013	361	13	of	of	ADP
fbem-11013	361	14	mergers	merger	NOUN
fbem-11013	361	15	and	and	CCONJ
fbem-11013	361	16	acquisitions	acquisition	NOUN
fbem-11013	361	17	on	on	ADP
fbem-11013	361	18	companies	company	NOUN
fbem-11013	361	19	’	'	PUNCT
fbem-11013	361	20	financial	financial	ADJ
fbem-11013	361	21	performance	performance	NOUN
fbem-11013	361	22	.	.	PUNCT
fbem-11013	362	1	journal	journal	PROPN
fbem-11013	362	2	of	of	ADP
fbem-11013	362	3	international	international	ADJ
fbem-11013	362	4	studies	study	NOUN
fbem-11013	362	5	,	,	PUNCT
fbem-11013	362	6	2020	2020	NUM
fbem-11013	362	7	.	.	PUNCT
fbem-11013	363	1	13(2	13(2	NOUN
fbem-11013	363	2	):	):	PUNCT
fbem-11013	364	1	p.	p.	NOUN
fbem-11013	364	2	34	34	NUM
fbem-11013	364	3	-	-	SYM
fbem-11013	364	4	47	47	NUM
fbem-11013	364	5	.	.	PUNCT
fbem-11013	365	1	[	[	X
fbem-11013	365	2	28	28	NUM
fbem-11013	365	3	]	]	X
fbem-11013	365	4	berrioategortua	berrioategortua	PROPN
fbem-11013	365	5	,	,	PUNCT
fbem-11013	365	6	j.s	j.s	PROPN
fbem-11013	365	7	.	.	PROPN
fbem-11013	365	8	,	,	PUNCT
fbem-11013	365	9	o.	o.	PROPN
fbem-11013	365	10	del	del	PROPN
fbem-11013	365	11	orden	orden	PROPN
fbem-11013	365	12	olasagasti	olasagasti	PROPN
fbem-11013	365	13	,	,	PUNCT
fbem-11013	365	14	and	and	CCONJ
fbem-11013	365	15	b.p	b.p	PROPN
fbem-11013	365	16	.	.	PROPN
fbem-11013	365	17	florencio	florencio	PROPN
fbem-11013	365	18	,	,	PUNCT
fbem-11013	365	19	does	do	AUX
fbem-11013	365	20	company	company	NOUN
fbem-11013	365	21	performance	performance	NOUN
fbem-11013	365	22	improve	improve	VERB
fbem-11013	365	23	after	after	ADP
fbem-11013	365	24	m&a	m&a	PROPN
fbem-11013	365	25	?	?	PUNCT
fbem-11013	366	1	a	a	DET
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fbem-11013	366	3	review	review	NOUN
fbem-11013	366	4	.	.	PUNCT
fbem-11013	367	1	advances	advance	NOUN
fbem-11013	367	2	in	in	ADP
fbem-11013	367	3	mergers	merger	NOUN
fbem-11013	367	4	and	and	CCONJ
fbem-11013	367	5	acquisitions	acquisition	NOUN
fbem-11013	367	6	,	,	PUNCT
fbem-11013	367	7	2018	2018	NUM
fbem-11013	367	8	.	.	PUNCT
fbem-11013	368	1	17	17	NUM
fbem-11013	368	2	:	:	PUNCT
fbem-11013	369	1	p.	p.	NOUN
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fbem-11013	369	3	-	-	SYM
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fbem-11013	369	5	.	.	PUNCT
fbem-11013	370	1	[	[	X
fbem-11013	370	2	29	29	NUM
fbem-11013	370	3	]	]	PUNCT
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fbem-11013	370	5	,	,	PUNCT
fbem-11013	370	6	l.	l.	PROPN
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fbem-11013	370	8	c.	c.	PROPN
fbem-11013	370	9	vansteenkiste	vansteenkiste	NOUN
fbem-11013	370	10	,	,	PUNCT
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fbem-11013	370	12	and	and	CCONJ
fbem-11013	370	13	success	success	NOUN
fbem-11013	370	14	in	in	ADP
fbem-11013	370	15	mergers	merger	NOUN
fbem-11013	370	16	and	and	CCONJ
fbem-11013	370	17	acquisitions	acquisition	NOUN
fbem-11013	370	18	.	.	PUNCT
fbem-11013	371	1	journal	journal	NOUN
fbem-11013	371	2	of	of	ADP
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fbem-11013	371	5	,	,	PUNCT
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fbem-11013	371	7	.	.	PUNCT
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fbem-11013	372	2	:	:	PUNCT
fbem-11013	373	1	p.	p.	NOUN
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fbem-11013	373	3	-	-	SYM
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fbem-11013	373	5	.	.	PUNCT
fbem-11013	374	1	[	[	X
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fbem-11013	374	3	]	]	X
fbem-11013	374	4	hietala	hietala	NOUN
fbem-11013	374	5	,	,	PUNCT
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fbem-11013	374	7	,	,	PUNCT
fbem-11013	374	8	s.n	s.n	PROPN
fbem-11013	374	9	.	.	PROPN
fbem-11013	374	10	kaplan	kaplan	PROPN
fbem-11013	374	11	,	,	PUNCT
fbem-11013	374	12	and	and	CCONJ
fbem-11013	374	13	d.t	d.t	PROPN
fbem-11013	374	14	.	.	PROPN
fbem-11013	374	15	robinson	robinson	PROPN
fbem-11013	374	16	,	,	PUNCT
fbem-11013	374	17	what	what	PRON
fbem-11013	374	18	is	be	AUX
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fbem-11013	374	20	price	price	NOUN
fbem-11013	374	21	of	of	ADP
fbem-11013	374	22	hubris	hubris	NOUN
fbem-11013	374	23	.	.	PUNCT
fbem-11013	375	1	using	use	VERB
fbem-11013	375	2	takeover	takeover	NOUN
fbem-11013	375	3	battles	battle	NOUN
fbem-11013	375	4	to	to	PART
fbem-11013	375	5	infer	infer	VERB
fbem-11013	375	6	,	,	PUNCT
fbem-11013	375	7	2003	2003	NUM
fbem-11013	375	8	.	.	PUNCT
fbem-11013	376	1	[	[	X
fbem-11013	376	2	31	31	NUM
fbem-11013	376	3	]	]	X
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fbem-11013	376	5	,	,	PUNCT
fbem-11013	376	6	j.e	j.e	PROPN
fbem-11013	376	7	.	.	PROPN
fbem-11013	376	8	,	,	PUNCT
fbem-11013	376	9	b.	b.	PROPN
fbem-11013	376	10	herrero	herrero	PROPN
fbem-11013	376	11	,	,	PUNCT
fbem-11013	376	12	and	and	CCONJ
fbem-11013	376	13	m.a	m.a	PROPN
fbem-11013	376	14	.	.	PROPN
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fbem-11013	376	16	,	,	PUNCT
fbem-11013	376	17	market	market	NOUN
fbem-11013	376	18	valuation	valuation	NOUN
fbem-11013	376	19	and	and	CCONJ
fbem-11013	376	20	acquiring	acquire	VERB
fbem-11013	376	21	firm	firm	ADJ
fbem-11013	376	22	performance	performance	NOUN
fbem-11013	376	23	in	in	ADP
fbem-11013	376	24	the	the	DET
fbem-11013	376	25	short	short	ADJ
fbem-11013	376	26	and	and	CCONJ
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fbem-11013	376	28	term	term	NOUN
fbem-11013	376	29	:	:	PUNCT
fbem-11013	376	30	outof	outof	PROPN
fbem-11013	376	31	-	-	PUNCT
fbem-11013	376	32	sample	sample	NOUN
fbem-11013	376	33	evidence	evidence	NOUN
fbem-11013	376	34	from	from	ADP
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fbem-11013	376	36	.	.	PUNCT
fbem-11013	377	1	brq	brq	PROPN
fbem-11013	377	2	business	business	PROPN
fbem-11013	377	3	research	research	NOUN
fbem-11013	377	4	quarterly	quarterly	ADV
fbem-11013	377	5	,	,	PUNCT
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fbem-11013	377	7	.	.	PUNCT
fbem-11013	378	1	23(1	23(1	ADV
fbem-11013	378	2	):	):	PUNCT
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fbem-11013	378	4	2340944420901048	2340944420901048	NUM
fbem-11013	378	5	.	.	PUNCT
fbem-11013	379	1	[	[	X
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fbem-11013	379	3	]	]	PUNCT
fbem-11013	379	4	tsai	tsai	PROPN
fbem-11013	379	5	,	,	PUNCT
fbem-11013	379	6	p.s	p.s	PROPN
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fbem-11013	379	8	,	,	PUNCT
fbem-11013	379	9	et	et	PROPN
fbem-11013	379	10	al	al	PROPN
fbem-11013	379	11	.	.	PROPN
fbem-11013	379	12	,	,	PUNCT
fbem-11013	379	13	market	market	NOUN
fbem-11013	379	14	sentiment	sentiment	NOUN
fbem-11013	379	15	and	and	CCONJ
fbem-11013	379	16	the	the	DET
fbem-11013	379	17	choice	choice	NOUN
fbem-11013	379	18	of	of	ADP
fbem-11013	379	19	payment	payment	NOUN
fbem-11013	379	20	method	method	NOUN
fbem-11013	379	21	in	in	ADP
fbem-11013	379	22	mergers	merger	NOUN
fbem-11013	379	23	and	and	CCONJ
fbem-11013	379	24	acquisitions	acquisition	NOUN
fbem-11013	379	25	.	.	PUNCT
fbem-11013	380	1	journal	journal	NOUN
fbem-11013	380	2	of	of	ADP
fbem-11013	380	3	corporate	corporate	ADJ
fbem-11013	380	4	accounting	accounting	NOUN
fbem-11013	380	5	&	&	CCONJ
fbem-11013	380	6	finance	finance	NOUN
fbem-11013	380	7	,	,	PUNCT
fbem-11013	380	8	2021	2021	NUM
fbem-11013	380	9	.	.	PUNCT
fbem-11013	381	1	32(3	32(3	NUM
fbem-11013	381	2	):	):	PUNCT
fbem-11013	381	3	p.	p.	NOUN
fbem-11013	381	4	139	139	NUM
fbem-11013	381	5	-	-	SYM
fbem-11013	381	6	154	154	NUM
fbem-11013	381	7	.	.	PUNCT
fbem-11013	382	1	[	[	X
fbem-11013	382	2	33	33	NUM
fbem-11013	382	3	]	]	PUNCT
fbem-11013	382	4	antoniou	antoniou	NOUN
fbem-11013	382	5	,	,	PUNCT
fbem-11013	382	6	a.	a.	PROPN
fbem-11013	382	7	,	,	PUNCT
fbem-11013	382	8	j.	j.	PROPN
fbem-11013	382	9	guo	guo	PROPN
fbem-11013	382	10	,	,	PUNCT
fbem-11013	382	11	and	and	CCONJ
fbem-11013	382	12	d.	d.	PROPN
fbem-11013	382	13	petmezas	petmezas	PROPN
fbem-11013	382	14	,	,	PUNCT
fbem-11013	382	15	merger	merger	NOUN
fbem-11013	382	16	momentum	momentum	NOUN
fbem-11013	382	17	and	and	CCONJ
fbem-11013	382	18	market	market	NOUN
fbem-11013	382	19	valuations	valuation	NOUN
fbem-11013	382	20	:	:	PUNCT
fbem-11013	382	21	the	the	DET
fbem-11013	382	22	uk	uk	PROPN
fbem-11013	382	23	evidence	evidence	NOUN
fbem-11013	382	24	.	.	PUNCT
fbem-11013	383	1	applied	apply	VERB
fbem-11013	383	2	financial	financial	ADJ
fbem-11013	383	3	economics	economic	NOUN
fbem-11013	383	4	,	,	PUNCT
fbem-11013	383	5	2008	2008	NUM
fbem-11013	383	6	.	.	PUNCT
fbem-11013	384	1	18(17	18(17	PROPN
fbem-11013	384	2	):	):	PUNCT
fbem-11013	384	3	p.	p.	NOUN
fbem-11013	384	4	1411	1411	NUM
fbem-11013	384	5	-	-	SYM
fbem-11013	384	6	1423	1423	NUM
fbem-11013	384	7	.	.	PUNCT
fbem-11013	385	1	[	[	X
fbem-11013	385	2	34	34	NUM
fbem-11013	385	3	]	]	X
fbem-11013	385	4	singh	singh	PROPN
fbem-11013	385	5	,	,	PUNCT
fbem-11013	385	6	s.	s.	PROPN
fbem-11013	385	7	and	and	CCONJ
fbem-11013	385	8	s.	s.	PROPN
fbem-11013	385	9	das	das	PROPN
fbem-11013	385	10	,	,	PUNCT
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fbem-11013	385	12	of	of	ADP
fbem-11013	385	13	post	post	ADJ
fbem-11013	385	14	-	-	ADJ
fbem-11013	385	15	merger	merger	ADJ
fbem-11013	385	16	and	and	CCONJ
fbem-11013	385	17	acquisition	acquisition	NOUN
fbem-11013	385	18	activities	activity	NOUN
fbem-11013	385	19	on	on	ADP
fbem-11013	385	20	the	the	DET
fbem-11013	385	21	financial	financial	ADJ
fbem-11013	385	22	performance	performance	NOUN
fbem-11013	385	23	of	of	ADP
fbem-11013	385	24	banks	bank	NOUN
fbem-11013	385	25	:	:	PUNCT
fbem-11013	385	26	a	a	DET
fbem-11013	385	27	study	study	NOUN
fbem-11013	385	28	of	of	ADP
fbem-11013	385	29	indian	indian	ADJ
fbem-11013	385	30	private	private	ADJ
fbem-11013	385	31	sector	sector	NOUN
fbem-11013	385	32	and	and	CCONJ
fbem-11013	385	33	public	public	ADJ
fbem-11013	385	34	sector	sector	NOUN
fbem-11013	385	35	banks	bank	NOUN
fbem-11013	385	36	.	.	PUNCT
fbem-11013	386	1	revista	revista	PROPN
fbem-11013	386	2	espacios	espacios	PROPN
fbem-11013	386	3	magazine	magazine	PROPN
fbem-11013	386	4	,	,	PUNCT
fbem-11013	386	5	2018	2018	NUM
fbem-11013	386	6	.	.	PUNCT
fbem-11013	387	1	39(26	39(26	NUM
fbem-11013	387	2	):	):	PUNCT
fbem-11013	387	3	p.	p.	NOUN
fbem-11013	387	4	25	25	NUM
fbem-11013	387	5	-	-	SYM
fbem-11013	387	6	41	41	NUM
fbem-11013	387	7	.	.	PUNCT
fbem-11013	388	1	[	[	X
fbem-11013	388	2	35	35	NUM
fbem-11013	388	3	]	]	SYM
fbem-11013	388	4	li	li	PROPN
fbem-11013	388	5	,	,	PUNCT
fbem-11013	388	6	y.	y.	PROPN
fbem-11013	388	7	,	,	PUNCT
fbem-11013	388	8	m.	m.	NOUN
fbem-11013	388	9	lu	lu	PROPN
fbem-11013	388	10	,	,	PUNCT
fbem-11013	388	11	and	and	CCONJ
fbem-11013	388	12	y.l	y.l	PROPN
fbem-11013	388	13	.	.	PROPN
fbem-11013	388	14	lo	lo	PROPN
fbem-11013	388	15	,	,	PUNCT
fbem-11013	388	16	the	the	DET
fbem-11013	388	17	impact	impact	NOUN
fbem-11013	388	18	of	of	ADP
fbem-11013	388	19	analyst	analyst	NOUN
fbem-11013	388	20	coverage	coverage	NOUN
fbem-11013	388	21	on	on	ADP
fbem-11013	388	22	partial	partial	ADJ
fbem-11013	388	23	acquisitions	acquisition	NOUN
fbem-11013	388	24	:	:	PUNCT
fbem-11013	388	25	evidence	evidence	NOUN
fbem-11013	388	26	from	from	ADP
fbem-11013	388	27	m&a	m&a	PROPN
fbem-11013	388	28	premium	premium	NOUN
fbem-11013	388	29	and	and	CCONJ
fbem-11013	388	30	firm	firm	ADJ
fbem-11013	388	31	performance	performance	NOUN
fbem-11013	388	32	in	in	ADP
fbem-11013	388	33	china	china	PROPN
fbem-11013	388	34	.	.	PUNCT
fbem-11013	389	1	international	international	ADJ
fbem-11013	389	2	review	review	PROPN
fbem-11013	389	3	of	of	ADP
fbem-11013	389	4	economics	economics	PROPN
fbem-11013	389	5	&	&	CCONJ
fbem-11013	389	6	finance	finance	PROPN
fbem-11013	389	7	,	,	PUNCT
fbem-11013	389	8	2019	2019	NUM
fbem-11013	389	9	.	.	PUNCT
fbem-11013	390	1	63	63	NUM
fbem-11013	390	2	:	:	PUNCT
fbem-11013	390	3	p.	p.	NOUN
fbem-11013	390	4	37	37	NUM
fbem-11013	390	5	-	-	SYM
fbem-11013	390	6	60	60	NUM
fbem-11013	390	7	.	.	PUNCT
fbem-11013	391	1	[	[	X
fbem-11013	391	2	36	36	NUM
fbem-11013	391	3	]	]	X
fbem-11013	391	4	yadong	yadong	ADJ
fbem-11013	391	5	,	,	PUNCT
fbem-11013	391	6	c.	c.	PROPN
fbem-11013	391	7	,	,	PUNCT
fbem-11013	391	8	et	et	PROPN
fbem-11013	391	9	al	al	PROPN
fbem-11013	391	10	.	.	PROPN
fbem-11013	391	11	,	,	PUNCT
fbem-11013	391	12	the	the	DET
fbem-11013	391	13	impact	impact	NOUN
fbem-11013	391	14	of	of	ADP
fbem-11013	391	15	mergers	merger	NOUN
fbem-11013	391	16	and	and	CCONJ
fbem-11013	391	17	acquisitions	acquisition	NOUN
fbem-11013	391	18	on	on	ADP
fbem-11013	391	19	financial	financial	ADJ
fbem-11013	391	20	performance	performance	NOUN
fbem-11013	391	21	of	of	ADP
fbem-11013	391	22	listed	list	VERB
fbem-11013	391	23	companies	company	NOUN
fbem-11013	391	24	in	in	ADP
fbem-11013	391	25	china	china	PROPN
fbem-11013	391	26	.	.	PUNCT
fbem-11013	392	1	international	international	ADJ
fbem-11013	392	2	journal	journal	NOUN
fbem-11013	392	3	of	of	ADP
fbem-11013	392	4	entrepreneurship	entrepreneurship	NOUN
fbem-11013	392	5	,	,	PUNCT
fbem-11013	392	6	2019	2019	NUM
fbem-11013	392	7	.	.	PUNCT
fbem-11013	393	1	2(8	2(8	NUM
fbem-11013	393	2	):	):	PUNCT
fbem-11013	393	3	p.	p.	NOUN
fbem-11013	393	4	01	01	NUM
fbem-11013	393	5	-	-	SYM
fbem-11013	393	6	12	12	NUM
fbem-11013	393	7	.	.	PUNCT
fbem-11013	394	1	[	[	X
fbem-11013	394	2	37	37	NUM
fbem-11013	394	3	]	]	SYM
fbem-11013	394	4	yang	yang	PROPN
fbem-11013	394	5	,	,	PUNCT
fbem-11013	394	6	j.	j.	PROPN
fbem-11013	394	7	,	,	PUNCT
fbem-11013	394	8	a.	a.	NOUN
fbem-11013	394	9	guariglia	guariglia	PROPN
fbem-11013	394	10	,	,	PUNCT
fbem-11013	394	11	and	and	CCONJ
fbem-11013	394	12	j.m	j.m	PROPN
fbem-11013	394	13	.	.	PROPN
fbem-11013	394	14	guo	guo	PROPN
fbem-11013	394	15	,	,	PUNCT
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fbem-11013	394	17	what	what	DET
fbem-11013	394	18	extent	extent	NOUN
fbem-11013	394	19	does	do	AUX
fbem-11013	394	20	corporate	corporate	ADJ
fbem-11013	394	21	liquidity	liquidity	NOUN
fbem-11013	394	22	affect	affect	VERB
fbem-11013	394	23	m&a	m&a	PROPN
fbem-11013	394	24	decisions	decision	NOUN
fbem-11013	394	25	,	,	PUNCT
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fbem-11013	394	27	of	of	ADP
fbem-11013	394	28	payment	payment	NOUN
fbem-11013	394	29	and	and	CCONJ
fbem-11013	394	30	performance	performance	NOUN
fbem-11013	394	31	?	?	PUNCT
fbem-11013	395	1	evidence	evidence	NOUN
fbem-11013	395	2	from	from	ADP
fbem-11013	395	3	china	china	PROPN
fbem-11013	395	4	.	.	PUNCT
fbem-11013	396	1	journal	journal	PROPN
fbem-11013	396	2	of	of	ADP
fbem-11013	396	3	corporate	corporate	ADJ
fbem-11013	396	4	finance	finance	NOUN
fbem-11013	396	5	,	,	PUNCT
fbem-11013	396	6	2019	2019	NUM
fbem-11013	396	7	.	.	PUNCT
fbem-11013	397	1	54	54	NUM
fbem-11013	397	2	:	:	PUNCT
fbem-11013	398	1	p.	p.	NOUN
fbem-11013	398	2	128	128	NUM
fbem-11013	398	3	-	-	SYM
fbem-11013	398	4	152	152	NUM
fbem-11013	398	5	.	.	PUNCT
fbem-11013	399	1	[	[	X
fbem-11013	399	2	38	38	NUM
fbem-11013	399	3	]	]	PUNCT
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fbem-11013	399	5	,	,	PUNCT
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fbem-11013	399	7	,	,	PUNCT
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fbem-11013	399	9	al	al	PROPN
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fbem-11013	399	11	,	,	PUNCT
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fbem-11013	399	13	connection	connection	NOUN
fbem-11013	399	14	and	and	CCONJ
fbem-11013	399	15	m&a	m&a	PROPN
fbem-11013	399	16	performance	performance	NOUN
fbem-11013	399	17	:	:	PUNCT
fbem-11013	399	18	evidence	evidence	NOUN
fbem-11013	399	19	from	from	ADP
fbem-11013	399	20	china	china	PROPN
fbem-11013	399	21	.	.	PUNCT
fbem-11013	400	1	international	international	ADJ
fbem-11013	400	2	review	review	PROPN
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fbem-11013	400	4	economics	economics	PROPN
fbem-11013	400	5	&	&	CCONJ
fbem-11013	400	6	finance	finance	PROPN
fbem-11013	400	7	,	,	PUNCT
fbem-11013	400	8	2023	2023	NUM
fbem-11013	400	9	.	.	PUNCT
fbem-11013	401	1	85	85	NUM
fbem-11013	401	2	:	:	PUNCT
fbem-11013	402	1	p.	p.	NOUN
fbem-11013	402	2	372	372	NUM
fbem-11013	402	3	-	-	SYM
fbem-11013	402	4	389	389	NUM
fbem-11013	402	5	.	.	PUNCT
fbem-11013	403	1	[	[	X
fbem-11013	403	2	39	39	NUM
fbem-11013	403	3	]	]	PUNCT
fbem-11013	403	4	he	he	PRON
fbem-11013	403	5	,	,	PUNCT
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fbem-11013	403	7	,	,	PUNCT
fbem-11013	403	8	et	et	PROPN
fbem-11013	403	9	al	al	PROPN
fbem-11013	403	10	.	.	PROPN
fbem-11013	403	11	,	,	PUNCT
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fbem-11013	403	14	,	,	PUNCT
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fbem-11013	403	16	valuation	valuation	NOUN
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fbem-11013	403	18	and	and	CCONJ
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fbem-11013	403	20	firms	firm	NOUN
fbem-11013	403	21	’	'	PUNCT
fbem-11013	403	22	m&a	m&a	PROPN
fbem-11013	403	23	.	.	PUNCT
fbem-11013	404	1	china	china	PROPN
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fbem-11013	404	4	,	,	PUNCT
fbem-11013	404	5	2022	2022	NUM
fbem-11013	404	6	.	.	PUNCT
fbem-11013	405	1	39(10	39(10	NUM
fbem-11013	405	2	):	):	PUNCT
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fbem-11013	405	4	118	118	NUM
fbem-11013	405	5	-	-	SYM
fbem-11013	405	6	136	136	NUM
fbem-11013	405	7	.	.	PUNCT
fbem-11013	406	1	[	[	X
fbem-11013	406	2	40	40	NUM
fbem-11013	406	3	]	]	PUNCT
fbem-11013	406	4	fama	fama	PROPN
fbem-11013	406	5	,	,	PUNCT
fbem-11013	406	6	e.f	e.f	PROPN
fbem-11013	406	7	.	.	PROPN
fbem-11013	406	8	,	,	PUNCT
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fbem-11013	406	10	of	of	ADP
fbem-11013	406	11	finance	finance	NOUN
fbem-11013	406	12	,	,	PUNCT
fbem-11013	406	13	basic	basic	ADJ
fbem-11013	406	14	books	book	NOUN
fbem-11013	406	15	,	,	PUNCT
fbem-11013	406	16	new	new	PROPN
fbem-11013	406	17	york	york	PROPN
fbem-11013	406	18	,	,	PUNCT
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fbem-11013	406	22	.	.	PUNCT
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fbem-11013	407	5	,	,	PUNCT
fbem-11013	407	6	s.	s.	PROPN
fbem-11013	407	7	and	and	CCONJ
fbem-11013	407	8	h.a	h.a	PROPN
fbem-11013	407	9	.	.	PROPN
fbem-11013	407	10	shawky	shawky	PROPN
fbem-11013	407	11	,	,	PUNCT
fbem-11013	407	12	estimating	estimate	VERB
fbem-11013	407	13	the	the	DET
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fbem-11013	407	15	impact	impact	NOUN
fbem-11013	407	16	of	of	ADP
fbem-11013	407	17	security	security	NOUN
fbem-11013	407	18	breach	breach	NOUN
fbem-11013	407	19	announcements	announcement	NOUN
fbem-11013	407	20	on	on	ADP
fbem-11013	407	21	firm	firm	ADJ
fbem-11013	407	22	values	value	NOUN
fbem-11013	407	23	.	.	PUNCT
fbem-11013	408	1	information	information	NOUN
fbem-11013	408	2	&	&	CCONJ
fbem-11013	408	3	management	management	PROPN
fbem-11013	408	4	,	,	PUNCT
fbem-11013	408	5	2009	2009	NUM
fbem-11013	408	6	.	.	PUNCT
fbem-11013	409	1	46(7	46(7	NUM
fbem-11013	409	2	):	):	PUNCT
fbem-11013	410	1	p.	p.	NOUN
fbem-11013	410	2	404	404	NUM
fbem-11013	410	3	-	-	SYM
fbem-11013	410	4	410	410	NUM
fbem-11013	410	5	.	.	PUNCT
fbem-11013	411	1	[	[	X
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fbem-11013	411	10	,	,	PUNCT
fbem-11013	411	11	in	in	ADP
fbem-11013	411	12	csr	csr	NOUN
fbem-11013	411	13	image	image	NOUN
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fbem-11013	411	17	banks	bank	NOUN
fbem-11013	411	18	and	and	CCONJ
fbem-11013	411	19	the	the	DET
fbem-11013	411	20	effects	effect	NOUN
fbem-11013	411	21	on	on	ADP
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fbem-11013	411	23	markets	market	NOUN
fbem-11013	411	24	:	:	PUNCT
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fbem-11013	411	26	study	study	NOUN
fbem-11013	411	27	of	of	ADP
fbem-11013	411	28	china	china	PROPN
fbem-11013	411	29	and	and	CCONJ
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fbem-11013	411	31	.	.	PUNCT
fbem-11013	411	32	2022	2022	NUM
fbem-11013	411	33	,	,	PUNCT
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fbem-11013	411	35	.	.	PUNCT
fbem-11013	412	1	p.	p.	NOUN
fbem-11013	412	2	69	69	NUM
fbem-11013	412	3	-	-	SYM
fbem-11013	412	4	86	86	NUM
fbem-11013	412	5	.	.	PUNCT
fbem-11013	413	1	[	[	X
fbem-11013	413	2	43	43	NUM
fbem-11013	413	3	]	]	X
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fbem-11013	413	5	,	,	PUNCT
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fbem-11013	413	8	a.	a.	PROPN
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fbem-11013	413	10	,	,	PUNCT
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fbem-11013	413	14	short‐run	short‐run	ADJ
fbem-11013	413	15	performance	performance	NOUN
fbem-11013	413	16	of	of	ADP
fbem-11013	413	17	cross‐border	cross‐border	ADJ
fbem-11013	413	18	mergers	merger	NOUN
fbem-11013	413	19	and	and	CCONJ
fbem-11013	413	20	acquisitions	acquisition	NOUN
fbem-11013	413	21	:	:	PUNCT
fbem-11013	413	22	evidence	evidence	NOUN
fbem-11013	413	23	from	from	ADP
fbem-11013	413	24	the	the	DET
fbem-11013	413	25	uk	uk	PROPN
fbem-11013	413	26	acquiring	acquire	VERB
fbem-11013	413	27	firms	firm	NOUN
fbem-11013	413	28	.	.	PUNCT
fbem-11013	414	1	review	review	NOUN
fbem-11013	414	2	of	of	ADP
fbem-11013	414	3	accounting	accounting	NOUN
fbem-11013	414	4	and	and	CCONJ
fbem-11013	414	5	finance	finance	NOUN
fbem-11013	414	6	,	,	PUNCT
fbem-11013	414	7	2009	2009	NUM
fbem-11013	414	8	.	.	PUNCT
fbem-11013	415	1	[	[	X
fbem-11013	415	2	44	44	NUM
fbem-11013	415	3	]	]	X
fbem-11013	415	4	liu	liu	PROPN
fbem-11013	415	5	,	,	PUNCT
fbem-11013	415	6	k.	k.	PROPN
fbem-11013	415	7	,	,	PUNCT
fbem-11013	415	8	s.	s.	PROPN
fbem-11013	415	9	wu	wu	PROPN
fbem-11013	415	10	,	,	PUNCT
fbem-11013	415	11	and	and	CCONJ
fbem-11013	415	12	n.	n.	PROPN
fbem-11013	415	13	guo	guo	PROPN
fbem-11013	415	14	,	,	PUNCT
fbem-11013	415	15	governmental	governmental	ADJ
fbem-11013	415	16	governance	governance	NOUN
fbem-11013	415	17	of	of	ADP
fbem-11013	415	18	host	host	NOUN
fbem-11013	415	19	countries	country	NOUN
fbem-11013	415	20	and	and	CCONJ
fbem-11013	415	21	cross	cross	ADJ
fbem-11013	415	22	-	-	ADJ
fbem-11013	415	23	border	border	ADJ
fbem-11013	415	24	merger	merger	NOUN
fbem-11013	415	25	and	and	CCONJ
fbem-11013	415	26	acquisition	acquisition	NOUN
fbem-11013	415	27	performance	performance	NOUN
fbem-11013	415	28	:	:	PUNCT
fbem-11013	415	29	evidence	evidence	NOUN
fbem-11013	415	30	from	from	ADP
fbem-11013	415	31	listed	list	VERB
fbem-11013	415	32	enterprises	enterprise	NOUN
fbem-11013	415	33	in	in	ADP
fbem-11013	415	34	china	china	PROPN
fbem-11013	415	35	.	.	PUNCT
fbem-11013	416	1	plos	plos	PROPN
fbem-11013	416	2	one	one	NUM
fbem-11013	416	3	,	,	PUNCT
fbem-11013	416	4	2021	2021	NUM
fbem-11013	416	5	.	.	PUNCT
fbem-11013	417	1	16(8	16(8	NUM
fbem-11013	417	2	):	):	PUNCT
fbem-11013	417	3	p.	p.	NOUN
fbem-11013	417	4	e0256494	e0256494	NOUN
fbem-11013	417	5	.	.	PUNCT
fbem-11013	418	1	[	[	X
fbem-11013	418	2	45	45	NUM
fbem-11013	418	3	]	]	PUNCT
fbem-11013	418	4	variava	variava	NOUN
fbem-11013	418	5	,	,	PUNCT
fbem-11013	418	6	d.	d.	PROPN
fbem-11013	418	7	and	and	CCONJ
fbem-11013	418	8	j.m	j.m	PROPN
fbem-11013	418	9	.	.	PROPN
fbem-11013	418	10	kapadia	kapadia	PROPN
fbem-11013	418	11	,	,	PUNCT
fbem-11013	418	12	long	long	ADJ
fbem-11013	418	13	-	-	PUNCT
fbem-11013	418	14	term	term	NOUN
fbem-11013	418	15	abnormal	abnormal	ADJ
fbem-11013	418	16	returns	return	NOUN
fbem-11013	418	17	during	during	ADP
fbem-11013	418	18	pre	pre	NOUN
fbem-11013	418	19	and	and	CCONJ
fbem-11013	418	20	post	post	VERB
fbem-11013	418	21	merger	merger	NOUN
fbem-11013	418	22	:	:	PUNCT
fbem-11013	418	23	evidence	evidence	NOUN
fbem-11013	418	24	from	from	ADP
fbem-11013	418	25	india	india	PROPN
fbem-11013	418	26	.	.	PUNCT
fbem-11013	419	1	nmims	nmim	NOUN
fbem-11013	419	2	management	management	NOUN
fbem-11013	419	3	review	review	NOUN
fbem-11013	419	4	,	,	PUNCT
fbem-11013	419	5	2022	2022	NUM
fbem-11013	419	6	.	.	PUNCT
fbem-11013	420	1	30(1	30(1	NUM
fbem-11013	420	2	):	):	PUNCT
fbem-11013	421	1	p.	p.	NOUN
fbem-11013	421	2	120	120	NUM
fbem-11013	421	3	-	-	SYM
fbem-11013	421	4	141	141	NUM
fbem-11013	421	5	.	.	PUNCT
fbem-11013	422	1	[	[	X
fbem-11013	422	2	46	46	NUM
fbem-11013	422	3	]	]	X
fbem-11013	422	4	king	king	NOUN
fbem-11013	422	5	,	,	PUNCT
fbem-11013	422	6	d.r	d.r	PROPN
fbem-11013	422	7	.	.	PROPN
fbem-11013	422	8	,	,	PUNCT
fbem-11013	422	9	et	et	PROPN
fbem-11013	422	10	al	al	PROPN
fbem-11013	422	11	.	.	PROPN
fbem-11013	422	12	,	,	PUNCT
fbem-11013	422	13	a	a	DET
fbem-11013	422	14	meta‐analytic	meta‐analytic	ADJ
fbem-11013	422	15	integration	integration	NOUN
fbem-11013	422	16	of	of	ADP
fbem-11013	422	17	acquisition	acquisition	NOUN
fbem-11013	422	18	performance	performance	NOUN
fbem-11013	422	19	prediction	prediction	NOUN
fbem-11013	422	20	.	.	PUNCT
fbem-11013	423	1	journal	journal	PROPN
fbem-11013	423	2	of	of	ADP
fbem-11013	423	3	management	management	NOUN
fbem-11013	423	4	studies	study	NOUN
fbem-11013	423	5	,	,	PUNCT
fbem-11013	423	6	2021	2021	NUM
fbem-11013	423	7	.	.	PUNCT
fbem-11013	424	1	58(5	58(5	NUM
fbem-11013	424	2	):	):	PUNCT
fbem-11013	424	3	p.	p.	NOUN
fbem-11013	424	4	1198	1198	NUM
fbem-11013	424	5	-	-	SYM
fbem-11013	424	6	1236	1236	NUM
fbem-11013	424	7	.	.	PUNCT
fbem-11013	425	1	[	[	X
fbem-11013	425	2	47	47	NUM
fbem-11013	425	3	]	]	X
fbem-11013	425	4	wang	wang	PROPN
fbem-11013	425	5	,	,	PUNCT
fbem-11013	425	6	y.	y.	PROPN
fbem-11013	425	7	and	and	CCONJ
fbem-11013	425	8	s.	s.	PROPN
fbem-11013	425	9	li	li	PROPN
fbem-11013	425	10	,	,	PUNCT
fbem-11013	425	11	will	will	AUX
fbem-11013	425	12	social	social	ADJ
fbem-11013	425	13	trust	trust	NOUN
fbem-11013	425	14	enhance	enhance	VERB
fbem-11013	425	15	the	the	DET
fbem-11013	425	16	performance	performance	NOUN
fbem-11013	425	17	of	of	ADP
fbem-11013	425	18	corporate	corporate	ADJ
fbem-11013	425	19	mergers	merger	NOUN
fbem-11013	425	20	and	and	CCONJ
fbem-11013	425	21	acquisitions	acquisition	NOUN
fbem-11013	425	22	?	?	PUNCT
fbem-11013	426	1	journal	journal	NOUN
fbem-11013	426	2	of	of	ADP
fbem-11013	426	3	management	management	NOUN
fbem-11013	426	4	world	world	NOUN
fbem-11013	426	5	,	,	PUNCT
fbem-11013	426	6	2017	2017	NUM
fbem-11013	426	7	.	.	PUNCT
fbem-11013	427	1	no.291(12	no.291(12	ADV
fbem-11013	427	2	):	):	PUNCT
fbem-11013	427	3	p.	p.	NOUN
fbem-11013	427	4	125	125	NUM
fbem-11013	427	5	-	-	SYM
fbem-11013	427	6	140	140	NUM
fbem-11013	427	7	.	.	PUNCT
fbem-11013	428	1	[	[	X
fbem-11013	428	2	48	48	NUM
fbem-11013	428	3	]	]	SYM
fbem-11013	428	4	fu	fu	PROPN
fbem-11013	428	5	,	,	PUNCT
fbem-11013	428	6	j.	j.	PROPN
fbem-11013	428	7	,	,	PUNCT
fbem-11013	428	8	et	et	PROPN
fbem-11013	428	9	al	al	PROPN
fbem-11013	428	10	.	.	PROPN
fbem-11013	428	11	,	,	PUNCT
fbem-11013	428	12	predicting	predict	VERB
fbem-11013	428	13	stock	stock	NOUN
fbem-11013	428	14	market	market	NOUN
fbem-11013	428	15	crises	crisis	NOUN
fbem-11013	428	16	using	use	VERB
fbem-11013	428	17	daily	daily	ADJ
fbem-11013	428	18	stock	stock	NOUN
fbem-11013	428	19	market	market	NOUN
fbem-11013	428	20	valuation	valuation	NOUN
fbem-11013	428	21	and	and	CCONJ
fbem-11013	428	22	investor	investor	NOUN
fbem-11013	428	23	sentiment	sentiment	NOUN
fbem-11013	428	24	indicators	indicator	NOUN
fbem-11013	428	25	.	.	PUNCT
fbem-11013	429	1	the	the	DET
fbem-11013	429	2	north	north	ADJ
fbem-11013	429	3	american	american	PROPN
fbem-11013	429	4	journal	journal	PROPN
fbem-11013	429	5	of	of	ADP
fbem-11013	429	6	economics	economic	NOUN
fbem-11013	429	7	and	and	CCONJ
fbem-11013	429	8	finance	finance	NOUN
fbem-11013	429	9	,	,	PUNCT
fbem-11013	429	10	2020	2020	NUM
fbem-11013	429	11	.	.	PUNCT
fbem-11013	430	1	51	51	NUM
fbem-11013	430	2	:	:	PUNCT
fbem-11013	431	1	p.	p.	NOUN
fbem-11013	431	2	100905	100905	NUM
fbem-11013	431	3	.	.	PUNCT
fbem-11013	432	1	[	[	X
fbem-11013	432	2	49	49	NUM
fbem-11013	432	3	]	]	PUNCT
fbem-11013	432	4	yousfi	yousfi	NOUN
fbem-11013	432	5	,	,	PUNCT
fbem-11013	432	6	m.	m.	NOUN
fbem-11013	432	7	,	,	PUNCT
fbem-11013	432	8	et	et	PROPN
fbem-11013	432	9	al	al	PROPN
fbem-11013	432	10	.	.	PROPN
fbem-11013	432	11	,	,	PUNCT
fbem-11013	432	12	effects	effect	NOUN
fbem-11013	432	13	of	of	ADP
fbem-11013	432	14	the	the	DET
fbem-11013	432	15	covid-19	covid-19	PROPN
fbem-11013	432	16	pandemic	pandemic	NOUN
fbem-11013	432	17	on	on	ADP
fbem-11013	432	18	the	the	DET
fbem-11013	432	19	us	us	PROPN
fbem-11013	432	20	stock	stock	NOUN
fbem-11013	432	21	market	market	NOUN
fbem-11013	432	22	and	and	CCONJ
fbem-11013	432	23	uncertainty	uncertainty	NOUN
fbem-11013	432	24	:	:	PUNCT
fbem-11013	432	25	a	a	DET
fbem-11013	432	26	comparative	comparative	ADJ
fbem-11013	432	27	assessment	assessment	NOUN
fbem-11013	432	28	between	between	ADP
fbem-11013	432	29	the	the	DET
fbem-11013	432	30	first	first	ADJ
fbem-11013	432	31	and	and	CCONJ
fbem-11013	432	32	second	second	ADJ
fbem-11013	432	33	waves	wave	NOUN
fbem-11013	432	34	.	.	PUNCT
fbem-11013	433	1	technological	technological	ADJ
fbem-11013	433	2	forecasting	forecasting	NOUN
fbem-11013	433	3	and	and	CCONJ
fbem-11013	433	4	social	social	ADJ
fbem-11013	433	5	change	change	NOUN
fbem-11013	433	6	,	,	PUNCT
fbem-11013	433	7	2021	2021	NUM
fbem-11013	433	8	.	.	PUNCT
fbem-11013	434	1	167	167	NUM
fbem-11013	434	2	:	:	PUNCT
fbem-11013	434	3	p.	p.	NOUN
fbem-11013	434	4	120710	120710	NUM
fbem-11013	434	5	.	.	PUNCT