id	sid	tid	token	lemma	pos
fbem-12572	1	1	frontiers	frontier	NOUN
fbem-12572	1	2	in	in	ADP
fbem-12572	1	3	business	business	NOUN
fbem-12572	1	4	,	,	PUNCT
fbem-12572	1	5	economics	economic	NOUN
fbem-12572	1	6	and	and	CCONJ
fbem-12572	1	7	management	management	NOUN
fbem-12572	1	8	issn	issn	PROPN
fbem-12572	1	9	:	:	PUNCT
fbem-12572	1	10	2766	2766	NUM
fbem-12572	1	11	-	-	PUNCT
fbem-12572	1	12	824x	824x	NUM
fbem-12572	1	13	|	|	ADJ
fbem-12572	1	14	vol	vol	NOUN
fbem-12572	1	15	.	.	PUNCT
fbem-12572	2	1	11	11	NUM
fbem-12572	2	2	,	,	PUNCT
fbem-12572	2	3	no	no	INTJ
fbem-12572	2	4	.	.	NOUN
fbem-12572	2	5	2	2	NUM
fbem-12572	2	6	,	,	PUNCT
fbem-12572	2	7	2023	2023	NUM
fbem-12572	2	8	128	128	NUM
fbem-12572	2	9	the	the	DET
fbem-12572	2	10	impact	impact	NOUN
fbem-12572	2	11	of	of	ADP
fbem-12572	2	12	investor	investor	NOUN
fbem-12572	2	13	sentiment	sentiment	NOUN
fbem-12572	2	14	on	on	ADP
fbem-12572	2	15	corporate	corporate	ADJ
fbem-12572	2	16	investment	investment	NOUN
fbem-12572	2	17	zhengru	zhengru	NOUN
fbem-12572	2	18	li	li	PROPN
fbem-12572	2	19	*	*	PROPN
fbem-12572	2	20	school	school	PROPN
fbem-12572	2	21	of	of	ADP
fbem-12572	2	22	business	business	NOUN
fbem-12572	2	23	,	,	PUNCT
fbem-12572	2	24	east	east	PROPN
fbem-12572	2	25	china	china	PROPN
fbem-12572	2	26	university	university	PROPN
fbem-12572	2	27	of	of	ADP
fbem-12572	2	28	political	political	ADJ
fbem-12572	2	29	science	science	NOUN
fbem-12572	2	30	and	and	CCONJ
fbem-12572	2	31	law	law	NOUN
fbem-12572	2	32	,	,	PUNCT
fbem-12572	2	33	shanghai	shanghai	PROPN
fbem-12572	2	34	,	,	PUNCT
fbem-12572	2	35	china	china	PROPN
fbem-12572	2	36	*	*	PUNCT
fbem-12572	2	37	corresponding	correspond	VERB
fbem-12572	2	38	author	author	NOUN
fbem-12572	2	39	email	email	NOUN
fbem-12572	2	40	:	:	PUNCT
fbem-12572	2	41	zoeli0922@163.com	zoeli0922@163.com	NUM
fbem-12572	2	42	abstract	abstract	NOUN
fbem-12572	2	43	:	:	PUNCT
fbem-12572	2	44	with	with	ADP
fbem-12572	2	45	the	the	DET
fbem-12572	2	46	development	development	NOUN
fbem-12572	2	47	of	of	ADP
fbem-12572	2	48	the	the	DET
fbem-12572	2	49	capital	capital	NOUN
fbem-12572	2	50	market	market	NOUN
fbem-12572	2	51	and	and	CCONJ
fbem-12572	2	52	the	the	DET
fbem-12572	2	53	real	real	ADJ
fbem-12572	2	54	economy	economy	NOUN
fbem-12572	2	55	,	,	PUNCT
fbem-12572	2	56	enterprise	enterprise	NOUN
fbem-12572	2	57	investment	investment	NOUN
fbem-12572	2	58	is	be	AUX
fbem-12572	2	59	getting	get	VERB
fbem-12572	2	60	more	more	ADJ
fbem-12572	2	61	and	and	CCONJ
fbem-12572	2	62	more	more	ADJ
fbem-12572	2	63	attention	attention	NOUN
fbem-12572	2	64	;	;	PUNCT
fbem-12572	2	65	enterprise	enterprise	NOUN
fbem-12572	2	66	investment	investment	NOUN
fbem-12572	2	67	and	and	CCONJ
fbem-12572	2	68	the	the	DET
fbem-12572	2	69	survival	survival	NOUN
fbem-12572	2	70	of	of	ADP
fbem-12572	2	71	the	the	DET
fbem-12572	2	72	whole	whole	ADJ
fbem-12572	2	73	enterprise	enterprise	NOUN
fbem-12572	2	74	have	have	VERB
fbem-12572	2	75	a	a	DET
fbem-12572	2	76	close	close	ADJ
fbem-12572	2	77	link	link	NOUN
fbem-12572	2	78	,	,	PUNCT
fbem-12572	2	79	with	with	ADP
fbem-12572	2	80	more	more	ADJ
fbem-12572	2	81	and	and	CCONJ
fbem-12572	2	82	more	more	ADJ
fbem-12572	2	83	phenomena	phenomenon	NOUN
fbem-12572	2	84	presented	present	VERB
fbem-12572	2	85	in	in	ADP
fbem-12572	2	86	the	the	DET
fbem-12572	2	87	market	market	NOUN
fbem-12572	2	88	,	,	PUNCT
fbem-12572	2	89	the	the	DET
fbem-12572	2	90	traditional	traditional	ADJ
fbem-12572	2	91	finance	finance	NOUN
fbem-12572	2	92	in	in	ADP
fbem-12572	2	93	the	the	DET
fbem-12572	2	94	"	"	PUNCT
fbem-12572	2	95	rational	rational	ADJ
fbem-12572	2	96	man	man	NOUN
fbem-12572	2	97	"	"	PUNCT
fbem-12572	2	98	and	and	CCONJ
fbem-12572	2	99	"	"	PUNCT
fbem-12572	2	100	market	market	NOUN
fbem-12572	2	101	effectiveness	effectiveness	NOUN
fbem-12572	2	102	with	with	ADP
fbem-12572	2	103	more	more	ADJ
fbem-12572	2	104	and	and	CCONJ
fbem-12572	2	105	more	more	ADJ
fbem-12572	2	106	phenomena	phenomenon	NOUN
fbem-12572	2	107	appearing	appear	VERB
fbem-12572	2	108	in	in	ADP
fbem-12572	2	109	the	the	DET
fbem-12572	2	110	market	market	NOUN
fbem-12572	2	111	,	,	PUNCT
fbem-12572	2	112	the	the	DET
fbem-12572	2	113	assumptions	assumption	NOUN
fbem-12572	2	114	of	of	ADP
fbem-12572	2	115	"	"	PUNCT
fbem-12572	2	116	rational	rational	ADJ
fbem-12572	2	117	man	man	NOUN
fbem-12572	2	118	"	"	PUNCT
fbem-12572	2	119	and	and	CCONJ
fbem-12572	2	120	"	"	PUNCT
fbem-12572	2	121	market	market	NOUN
fbem-12572	2	122	effectiveness	effectiveness	NOUN
fbem-12572	2	123	"	"	PUNCT
fbem-12572	2	124	in	in	ADP
fbem-12572	2	125	traditional	traditional	ADJ
fbem-12572	2	126	finance	finance	NOUN
fbem-12572	2	127	are	be	AUX
fbem-12572	2	128	not	not	PART
fbem-12572	2	129	enough	enough	ADJ
fbem-12572	2	130	to	to	PART
fbem-12572	2	131	give	give	VERB
fbem-12572	2	132	these	these	DET
fbem-12572	2	133	phenomena	phenomenon	NOUN
fbem-12572	2	134	a	a	DET
fbem-12572	2	135	reasonable	reasonable	ADJ
fbem-12572	2	136	explanation	explanation	NOUN
fbem-12572	2	137	,	,	PUNCT
fbem-12572	2	138	and	and	CCONJ
fbem-12572	2	139	the	the	DET
fbem-12572	2	140	emergence	emergence	NOUN
fbem-12572	2	141	of	of	ADP
fbem-12572	2	142	behavioral	behavioral	ADJ
fbem-12572	2	143	finance	finance	NOUN
fbem-12572	2	144	relaxes	relax	VERB
fbem-12572	2	145	the	the	DET
fbem-12572	2	146	assumptions	assumption	NOUN
fbem-12572	2	147	and	and	CCONJ
fbem-12572	2	148	makes	make	VERB
fbem-12572	2	149	the	the	DET
fbem-12572	2	150	theory	theory	NOUN
fbem-12572	2	151	able	able	ADJ
fbem-12572	2	152	to	to	PART
fbem-12572	2	153	explain	explain	VERB
fbem-12572	2	154	financial	financial	ADJ
fbem-12572	2	155	anomalies	anomaly	NOUN
fbem-12572	2	156	in	in	ADP
fbem-12572	2	157	the	the	DET
fbem-12572	2	158	real	real	ADJ
fbem-12572	2	159	market	market	NOUN
fbem-12572	2	160	.	.	PUNCT
fbem-12572	3	1	china	china	PROPN
fbem-12572	3	2	's	's	PART
fbem-12572	3	3	capital	capital	NOUN
fbem-12572	3	4	market	market	NOUN
fbem-12572	3	5	started	start	VERB
fbem-12572	3	6	late	late	ADV
fbem-12572	3	7	,	,	PUNCT
fbem-12572	3	8	and	and	CCONJ
fbem-12572	3	9	individual	individual	ADJ
fbem-12572	3	10	investors	investor	NOUN
fbem-12572	3	11	accounted	account	VERB
fbem-12572	3	12	for	for	ADP
fbem-12572	3	13	most	most	ADJ
fbem-12572	3	14	factors	factor	NOUN
fbem-12572	3	15	in	in	ADP
fbem-12572	3	16	their	their	PRON
fbem-12572	3	17	investor	investor	NOUN
fbem-12572	3	18	decision	decision	NOUN
fbem-12572	3	19	-	-	PUNCT
fbem-12572	3	20	making	making	NOUN
fbem-12572	3	21	that	that	PRON
fbem-12572	3	22	tend	tend	VERB
fbem-12572	3	23	to	to	ADP
fbem-12572	3	24	irrational	irrational	ADJ
fbem-12572	3	25	investment	investment	NOUN
fbem-12572	3	26	.	.	PUNCT
fbem-12572	4	1	this	this	DET
fbem-12572	4	2	paper	paper	NOUN
fbem-12572	4	3	discusses	discuss	VERB
fbem-12572	4	4	the	the	DET
fbem-12572	4	5	impact	impact	NOUN
fbem-12572	4	6	of	of	ADP
fbem-12572	4	7	investor	investor	NOUN
fbem-12572	4	8	sentiment	sentiment	NOUN
fbem-12572	4	9	changes	change	VERB
fbem-12572	4	10	on	on	ADP
fbem-12572	4	11	listed	list	VERB
fbem-12572	4	12	companies	company	NOUN
fbem-12572	4	13	'	'	PART
fbem-12572	4	14	investment	investment	NOUN
fbem-12572	4	15	from	from	ADP
fbem-12572	4	16	the	the	DET
fbem-12572	4	17	perspective	perspective	NOUN
fbem-12572	4	18	of	of	ADP
fbem-12572	4	19	behavioral	behavioral	ADJ
fbem-12572	4	20	finance	finance	NOUN
fbem-12572	4	21	and	and	CCONJ
fbem-12572	4	22	analyses	analyse	VERB
fbem-12572	4	23	the	the	DET
fbem-12572	4	24	theoretical	theoretical	ADJ
fbem-12572	4	25	modeling	modeling	NOUN
fbem-12572	4	26	and	and	CCONJ
fbem-12572	4	27	empirical	empirical	ADJ
fbem-12572	4	28	modeling	modeling	NOUN
fbem-12572	4	29	from	from	ADP
fbem-12572	4	30	two	two	NUM
fbem-12572	4	31	perspectives	perspective	NOUN
fbem-12572	4	32	.	.	PUNCT
fbem-12572	5	1	firstly	firstly	ADV
fbem-12572	5	2	,	,	PUNCT
fbem-12572	5	3	there	there	PRON
fbem-12572	5	4	are	be	VERB
fbem-12572	5	5	more	more	ADJ
fbem-12572	5	6	individual	individual	ADJ
fbem-12572	5	7	investors	investor	NOUN
fbem-12572	5	8	in	in	ADP
fbem-12572	5	9	china	china	PROPN
fbem-12572	5	10	's	's	PART
fbem-12572	5	11	capital	capital	NOUN
fbem-12572	5	12	market	market	NOUN
fbem-12572	5	13	,	,	PUNCT
fbem-12572	5	14	and	and	CCONJ
fbem-12572	5	15	it	it	PRON
fbem-12572	5	16	is	be	AUX
fbem-12572	5	17	more	more	ADV
fbem-12572	5	18	novel	novel	ADJ
fbem-12572	5	19	to	to	PART
fbem-12572	5	20	study	study	VERB
fbem-12572	5	21	the	the	DET
fbem-12572	5	22	investment	investment	NOUN
fbem-12572	5	23	angle	angle	NOUN
fbem-12572	5	24	of	of	ADP
fbem-12572	5	25	the	the	DET
fbem-12572	5	26	capital	capital	NOUN
fbem-12572	5	27	market	market	NOUN
fbem-12572	5	28	from	from	ADP
fbem-12572	5	29	the	the	DET
fbem-12572	5	30	perspective	perspective	NOUN
fbem-12572	5	31	of	of	ADP
fbem-12572	5	32	investor	investor	NOUN
fbem-12572	5	33	sentiment	sentiment	NOUN
fbem-12572	5	34	,	,	PUNCT
fbem-12572	5	35	so	so	SCONJ
fbem-12572	5	36	this	this	DET
fbem-12572	5	37	study	study	NOUN
fbem-12572	5	38	has	have	VERB
fbem-12572	5	39	significance	significance	NOUN
fbem-12572	5	40	to	to	ADP
fbem-12572	5	41	the	the	DET
fbem-12572	5	42	market	market	NOUN
fbem-12572	5	43	;	;	PUNCT
fbem-12572	5	44	secondly	secondly	ADV
fbem-12572	5	45	,	,	PUNCT
fbem-12572	5	46	it	it	PRON
fbem-12572	5	47	discusses	discuss	VERB
fbem-12572	5	48	the	the	DET
fbem-12572	5	49	literature	literature	NOUN
fbem-12572	5	50	review	review	NOUN
fbem-12572	5	51	of	of	ADP
fbem-12572	5	52	the	the	DET
fbem-12572	5	53	relationship	relationship	NOUN
fbem-12572	5	54	between	between	ADP
fbem-12572	5	55	investor	investor	NOUN
fbem-12572	5	56	sentiment	sentiment	NOUN
fbem-12572	5	57	and	and	CCONJ
fbem-12572	5	58	listed	list	VERB
fbem-12572	5	59	enterprises	enterprise	NOUN
fbem-12572	5	60	'	'	PART
fbem-12572	5	61	investment	investment	NOUN
fbem-12572	5	62	by	by	ADP
fbem-12572	5	63	scholars	scholar	NOUN
fbem-12572	5	64	in	in	ADP
fbem-12572	5	65	the	the	DET
fbem-12572	5	66	past	past	NOUN
fbem-12572	5	67	,	,	PUNCT
fbem-12572	5	68	and	and	CCONJ
fbem-12572	5	69	analyses	analyse	VERB
fbem-12572	5	70	the	the	DET
fbem-12572	5	71	former	former	NOUN
fbem-12572	5	72	's	's	PART
fbem-12572	5	73	impact	impact	NOUN
fbem-12572	5	74	on	on	ADP
fbem-12572	5	75	the	the	DET
fbem-12572	5	76	latter	latter	ADJ
fbem-12572	5	77	from	from	ADP
fbem-12572	5	78	theoretical	theoretical	ADJ
fbem-12572	5	79	modeling	modeling	NOUN
fbem-12572	5	80	and	and	CCONJ
fbem-12572	5	81	puts	put	VERB
fbem-12572	5	82	forward	forward	ADP
fbem-12572	5	83	hypotheses	hypothesis	NOUN
fbem-12572	5	84	;	;	PUNCT
fbem-12572	5	85	after	after	ADP
fbem-12572	5	86	that	that	PRON
fbem-12572	5	87	,	,	PUNCT
fbem-12572	5	88	we	we	PRON
fbem-12572	5	89	use	use	VERB
fbem-12572	5	90	empirical	empirical	ADJ
fbem-12572	5	91	methods	method	NOUN
fbem-12572	5	92	to	to	PART
fbem-12572	5	93	prove	prove	VERB
fbem-12572	5	94	whether	whether	SCONJ
fbem-12572	5	95	the	the	DET
fbem-12572	5	96	hypotheses	hypothesis	NOUN
fbem-12572	5	97	are	be	AUX
fbem-12572	5	98	valid	valid	ADJ
fbem-12572	5	99	or	or	CCONJ
fbem-12572	5	100	not	not	PART
fbem-12572	5	101	;	;	PUNCT
fbem-12572	5	102	and	and	CCONJ
fbem-12572	5	103	finally	finally	ADV
fbem-12572	5	104	analyses	analyse	VERB
fbem-12572	5	105	the	the	DET
fbem-12572	5	106	results	result	NOUN
fbem-12572	5	107	of	of	ADP
fbem-12572	5	108	the	the	DET
fbem-12572	5	109	empirical	empirical	ADJ
fbem-12572	5	110	research	research	NOUN
fbem-12572	5	111	,	,	PUNCT
fbem-12572	5	112	the	the	DET
fbem-12572	5	113	shortcomings	shortcoming	NOUN
fbem-12572	5	114	of	of	ADP
fbem-12572	5	115	this	this	DET
fbem-12572	5	116	paper	paper	NOUN
fbem-12572	5	117	's	's	PART
fbem-12572	5	118	research	research	NOUN
fbem-12572	5	119	and	and	CCONJ
fbem-12572	5	120	the	the	DET
fbem-12572	5	121	constructive	constructive	ADJ
fbem-12572	5	122	suggestions	suggestion	NOUN
fbem-12572	5	123	and	and	CCONJ
fbem-12572	5	124	future	future	ADJ
fbem-12572	5	125	research	research	NOUN
fbem-12572	5	126	space	space	NOUN
fbem-12572	5	127	for	for	ADP
fbem-12572	5	128	the	the	DET
fbem-12572	5	129	topics	topic	NOUN
fbem-12572	5	130	discussed	discuss	VERB
fbem-12572	5	131	in	in	ADP
fbem-12572	5	132	this	this	DET
fbem-12572	5	133	paper	paper	NOUN
fbem-12572	5	134	.	.	PUNCT
fbem-12572	6	1	keywords	keyword	NOUN
fbem-12572	6	2	:	:	PUNCT
fbem-12572	6	3	behavioral	behavioral	ADJ
fbem-12572	6	4	finance	finance	NOUN
fbem-12572	6	5	;	;	PUNCT
fbem-12572	6	6	investor	investor	NOUN
fbem-12572	6	7	sentiment	sentiment	NOUN
fbem-12572	6	8	;	;	PUNCT
fbem-12572	6	9	listed	list	VERB
fbem-12572	6	10	firms	firm	NOUN
fbem-12572	6	11	;	;	PUNCT
fbem-12572	6	12	investment	investment	NOUN
fbem-12572	6	13	size	size	NOUN
fbem-12572	6	14	;	;	PUNCT
fbem-12572	6	15	investor	investor	NOUN
fbem-12572	6	16	efficiency	efficiency	NOUN
fbem-12572	6	17	.	.	PUNCT
fbem-12572	7	1	1	1	X
fbem-12572	7	2	.	.	X
fbem-12572	7	3	background	background	NOUN
fbem-12572	7	4	and	and	CCONJ
fbem-12572	7	5	significance	significance	NOUN
fbem-12572	7	6	of	of	ADP
fbem-12572	7	7	the	the	DET
fbem-12572	7	8	study	study	NOUN
fbem-12572	7	9	1.1	1.1	NUM
fbem-12572	7	10	.	.	PUNCT
fbem-12572	8	1	background	background	NOUN
fbem-12572	8	2	to	to	ADP
fbem-12572	8	3	the	the	DET
fbem-12572	8	4	study	study	NOUN
fbem-12572	8	5	there	there	PRON
fbem-12572	8	6	are	be	VERB
fbem-12572	8	7	two	two	NUM
fbem-12572	8	8	primary	primary	ADJ
fbem-12572	8	9	hypotheses	hypothesis	NOUN
fbem-12572	8	10	in	in	ADP
fbem-12572	8	11	traditional	traditional	ADJ
fbem-12572	8	12	finance	finance	NOUN
fbem-12572	8	13	theory	theory	NOUN
fbem-12572	8	14	,	,	PUNCT
fbem-12572	8	15	namely	namely	ADV
fbem-12572	8	16	the	the	DET
fbem-12572	8	17	"	"	PUNCT
fbem-12572	8	18	rational	rational	ADJ
fbem-12572	8	19	man	man	NOUN
fbem-12572	8	20	hypothesis	hypothesis	NOUN
fbem-12572	8	21	"	"	PUNCT
fbem-12572	8	22	and	and	CCONJ
fbem-12572	8	23	the	the	DET
fbem-12572	8	24	"	"	PUNCT
fbem-12572	8	25	market	market	NOUN
fbem-12572	8	26	effectiveness	effectiveness	NOUN
fbem-12572	8	27	hypothesis	hypothesis	NOUN
fbem-12572	8	28	.	.	PUNCT
fbem-12572	8	29	"	"	PUNCT
fbem-12572	9	1	the	the	DET
fbem-12572	9	2	"	"	PUNCT
fbem-12572	9	3	rational	rational	ADJ
fbem-12572	9	4	man	man	NOUN
fbem-12572	9	5	hypothesis	hypothesis	NOUN
fbem-12572	9	6	"	"	PUNCT
fbem-12572	9	7	refers	refer	VERB
fbem-12572	9	8	to	to	ADP
fbem-12572	9	9	the	the	DET
fbem-12572	9	10	fact	fact	NOUN
fbem-12572	9	11	that	that	SCONJ
fbem-12572	9	12	investors	investor	NOUN
fbem-12572	9	13	in	in	ADP
fbem-12572	9	14	the	the	DET
fbem-12572	9	15	market	market	NOUN
fbem-12572	9	16	will	will	AUX
fbem-12572	9	17	make	make	VERB
fbem-12572	9	18	a	a	DET
fbem-12572	9	19	rational	rational	ADJ
fbem-12572	9	20	judgment	judgment	NOUN
fbem-12572	9	21	on	on	ADP
fbem-12572	9	22	their	their	PRON
fbem-12572	9	23	investment	investment	NOUN
fbem-12572	9	24	decisions	decision	NOUN
fbem-12572	9	25	to	to	PART
fbem-12572	9	26	maximize	maximize	VERB
fbem-12572	9	27	their	their	PRON
fbem-12572	9	28	benefits	benefit	NOUN
fbem-12572	9	29	under	under	ADP
fbem-12572	9	30	certain	certain	ADJ
fbem-12572	9	31	risk	risk	NOUN
fbem-12572	9	32	conditions	condition	NOUN
fbem-12572	9	33	or	or	CCONJ
fbem-12572	9	34	to	to	PART
fbem-12572	9	35	achieve	achieve	VERB
fbem-12572	9	36	practical	practical	ADJ
fbem-12572	9	37	risk	risk	NOUN
fbem-12572	9	38	avoidance	avoidance	NOUN
fbem-12572	9	39	under	under	ADP
fbem-12572	9	40	certain	certain	ADJ
fbem-12572	9	41	conditions	condition	NOUN
fbem-12572	9	42	of	of	ADP
fbem-12572	9	43	being	be	AUX
fbem-12572	9	44	able	able	ADJ
fbem-12572	9	45	to	to	PART
fbem-12572	9	46	obtain	obtain	VERB
fbem-12572	9	47	benefits	benefit	NOUN
fbem-12572	9	48	.	.	PUNCT
fbem-12572	10	1	the	the	DET
fbem-12572	10	2	"	"	PUNCT
fbem-12572	10	3	rational	rational	ADJ
fbem-12572	10	4	man	man	NOUN
fbem-12572	10	5	hypothesis	hypothesis	NOUN
fbem-12572	10	6	"	"	PUNCT
fbem-12572	10	7	refers	refer	VERB
fbem-12572	10	8	to	to	ADP
fbem-12572	10	9	the	the	DET
fbem-12572	10	10	fact	fact	NOUN
fbem-12572	10	11	that	that	SCONJ
fbem-12572	10	12	investors	investor	NOUN
fbem-12572	10	13	in	in	ADP
fbem-12572	10	14	the	the	DET
fbem-12572	10	15	market	market	NOUN
fbem-12572	10	16	will	will	AUX
fbem-12572	10	17	make	make	VERB
fbem-12572	10	18	a	a	DET
fbem-12572	10	19	rational	rational	ADJ
fbem-12572	10	20	judgment	judgment	NOUN
fbem-12572	10	21	on	on	ADP
fbem-12572	10	22	their	their	PRON
fbem-12572	10	23	investment	investment	NOUN
fbem-12572	10	24	decisions	decision	NOUN
fbem-12572	10	25	,	,	PUNCT
fbem-12572	10	26	maximize	maximize	VERB
fbem-12572	10	27	their	their	PRON
fbem-12572	10	28	benefits	benefit	NOUN
fbem-12572	10	29	under	under	ADP
fbem-12572	10	30	certain	certain	ADJ
fbem-12572	10	31	risk	risk	NOUN
fbem-12572	10	32	conditions	condition	NOUN
fbem-12572	10	33	,	,	PUNCT
fbem-12572	10	34	or	or	CCONJ
fbem-12572	10	35	achieve	achieve	VERB
fbem-12572	10	36	effective	effective	ADJ
fbem-12572	10	37	risk	risk	NOUN
fbem-12572	10	38	avoidance	avoidance	NOUN
fbem-12572	10	39	under	under	ADP
fbem-12572	10	40	certain	certain	ADJ
fbem-12572	10	41	conditions	condition	NOUN
fbem-12572	10	42	of	of	ADP
fbem-12572	10	43	the	the	DET
fbem-12572	10	44	benefits	benefit	NOUN
fbem-12572	10	45	they	they	PRON
fbem-12572	10	46	can	can	AUX
fbem-12572	10	47	obtain	obtain	VERB
fbem-12572	10	48	,	,	PUNCT
fbem-12572	10	49	i.e.	i.e.	X
fbem-12572	10	50	,	,	PUNCT
fbem-12572	10	51	they	they	PRON
fbem-12572	10	52	can	can	AUX
fbem-12572	10	53	obtain	obtain	VERB
fbem-12572	10	54	the	the	DET
fbem-12572	10	55	intrinsic	intrinsic	ADJ
fbem-12572	10	56	value	value	NOUN
fbem-12572	10	57	of	of	ADP
fbem-12572	10	58	the	the	DET
fbem-12572	10	59	stocks	stock	NOUN
fbem-12572	10	60	through	through	ADP
fbem-12572	10	61	fundamental	fundamental	ADJ
fbem-12572	10	62	analysis	analysis	NOUN
fbem-12572	10	63	and	and	CCONJ
fbem-12572	10	64	thus	thus	ADV
fbem-12572	10	65	carry	carry	VERB
fbem-12572	10	66	out	out	ADP
fbem-12572	10	67	the	the	DET
fbem-12572	10	68	arbitrage	arbitrage	NOUN
fbem-12572	10	69	investment	investment	NOUN
fbem-12572	10	70	behaviors	behavior	NOUN
fbem-12572	10	71	;	;	PUNCT
fbem-12572	10	72	the	the	DET
fbem-12572	10	73	"	"	PUNCT
fbem-12572	10	74	market	market	NOUN
fbem-12572	10	75	validity	validity	NOUN
fbem-12572	10	76	hypothesis	hypothesis	NOUN
fbem-12572	10	77	"	"	PUNCT
fbem-12572	10	78	refers	refer	VERB
fbem-12572	10	79	to	to	ADP
fbem-12572	10	80	the	the	DET
fbem-12572	10	81	fact	fact	NOUN
fbem-12572	10	82	that	that	SCONJ
fbem-12572	10	83	the	the	DET
fbem-12572	10	84	value	value	NOUN
fbem-12572	10	85	of	of	ADP
fbem-12572	10	86	the	the	DET
fbem-12572	10	87	stocks	stock	NOUN
fbem-12572	10	88	in	in	ADP
fbem-12572	10	89	the	the	DET
fbem-12572	10	90	capital	capital	NOUN
fbem-12572	10	91	market	market	NOUN
fbem-12572	10	92	can	can	AUX
fbem-12572	10	93	wholly	wholly	ADV
fbem-12572	10	94	and	and	CCONJ
fbem-12572	10	95	accurately	accurately	ADV
fbem-12572	10	96	reflect	reflect	VERB
fbem-12572	10	97	all	all	DET
fbem-12572	10	98	the	the	DET
fbem-12572	10	99	information	information	NOUN
fbem-12572	10	100	.	.	PUNCT
fbem-12572	11	1	the	the	DET
fbem-12572	11	2	"	"	PUNCT
fbem-12572	11	3	market	market	NOUN
fbem-12572	11	4	effectiveness	effectiveness	NOUN
fbem-12572	11	5	hypothesis	hypothesis	NOUN
fbem-12572	11	6	"	"	PUNCT
fbem-12572	11	7	means	mean	VERB
fbem-12572	11	8	that	that	SCONJ
fbem-12572	11	9	the	the	DET
fbem-12572	11	10	value	value	NOUN
fbem-12572	11	11	of	of	ADP
fbem-12572	11	12	stocks	stock	NOUN
fbem-12572	11	13	in	in	ADP
fbem-12572	11	14	the	the	DET
fbem-12572	11	15	capital	capital	NOUN
fbem-12572	11	16	market	market	NOUN
fbem-12572	11	17	can	can	AUX
fbem-12572	11	18	wholly	wholly	ADV
fbem-12572	11	19	and	and	CCONJ
fbem-12572	11	20	accurately	accurately	ADV
fbem-12572	11	21	reflect	reflect	VERB
fbem-12572	11	22	all	all	DET
fbem-12572	11	23	information	information	NOUN
fbem-12572	11	24	.	.	PUNCT
fbem-12572	12	1	however	however	ADV
fbem-12572	12	2	,	,	PUNCT
fbem-12572	12	3	in	in	ADP
fbem-12572	12	4	reality	reality	NOUN
fbem-12572	12	5	,	,	PUNCT
fbem-12572	12	6	the	the	DET
fbem-12572	12	7	assumptions	assumption	NOUN
fbem-12572	12	8	of	of	ADP
fbem-12572	12	9	traditional	traditional	ADJ
fbem-12572	12	10	finance	finance	NOUN
fbem-12572	12	11	can	can	AUX
fbem-12572	12	12	not	not	PART
fbem-12572	12	13	be	be	AUX
fbem-12572	12	14	achieved	achieve	VERB
fbem-12572	12	15	.	.	PUNCT
fbem-12572	13	1	there	there	PRON
fbem-12572	13	2	are	be	VERB
fbem-12572	13	3	no	no	DET
fbem-12572	13	4	entirely	entirely	ADV
fbem-12572	13	5	rational	rational	ADJ
fbem-12572	13	6	investors	investor	NOUN
fbem-12572	13	7	and	and	CCONJ
fbem-12572	13	8	an	an	DET
fbem-12572	13	9	utterly	utterly	ADV
fbem-12572	13	10	efficient	efficient	ADJ
fbem-12572	13	11	market	market	NOUN
fbem-12572	13	12	.	.	PUNCT
fbem-12572	14	1	the	the	DET
fbem-12572	14	2	financial	financial	ADJ
fbem-12572	14	3	crisis	crisis	NOUN
fbem-12572	14	4	,	,	PUNCT
fbem-12572	14	5	equity	equity	NOUN
fbem-12572	14	6	premium	premium	NOUN
fbem-12572	14	7	,	,	PUNCT
fbem-12572	14	8	risk	risk	NOUN
fbem-12572	14	9	-	-	PUNCT
fbem-12572	14	10	free	free	ADJ
fbem-12572	14	11	premium	premium	NOUN
fbem-12572	14	12	,	,	PUNCT
fbem-12572	14	13	and	and	CCONJ
fbem-12572	14	14	other	other	ADJ
fbem-12572	14	15	phenomena	phenomenon	NOUN
fbem-12572	14	16	have	have	AUX
fbem-12572	14	17	also	also	ADV
fbem-12572	14	18	proved	prove	VERB
fbem-12572	14	19	this	this	DET
fbem-12572	14	20	point	point	NOUN
fbem-12572	14	21	:	:	PUNCT
fbem-12572	14	22	the	the	DET
fbem-12572	14	23	investor	investor	NOUN
fbem-12572	14	24	's	's	PART
fbem-12572	14	25	investment	investment	NOUN
fbem-12572	14	26	behavior	behavior	NOUN
fbem-12572	14	27	will	will	AUX
fbem-12572	14	28	be	be	AUX
fbem-12572	14	29	affected	affect	VERB
fbem-12572	14	30	by	by	ADP
fbem-12572	14	31	their	their	PRON
fbem-12572	14	32	own	own	ADJ
fbem-12572	14	33	emotions	emotion	NOUN
fbem-12572	14	34	and	and	CCONJ
fbem-12572	14	35	subjective	subjective	ADJ
fbem-12572	14	36	factors	factor	NOUN
fbem-12572	14	37	,	,	PUNCT
fbem-12572	14	38	such	such	ADJ
fbem-12572	14	39	as	as	ADP
fbem-12572	14	40	investor	investor	NOUN
fbem-12572	14	41	's	's	PART
fbem-12572	14	42	personality	personality	NOUN
fbem-12572	14	43	,	,	PUNCT
fbem-12572	14	44	education	education	NOUN
fbem-12572	14	45	,	,	PUNCT
fbem-12572	14	46	engagement	engagement	NOUN
fbem-12572	14	47	in	in	ADP
fbem-12572	14	48	the	the	DET
fbem-12572	14	49	industry	industry	NOUN
fbem-12572	14	50	,	,	PUNCT
fbem-12572	14	51	etc	etc	X
fbem-12572	14	52	.	.	X
fbem-12572	14	53	,	,	PUNCT
fbem-12572	14	54	the	the	DET
fbem-12572	14	55	irrational	irrational	ADJ
fbem-12572	14	56	investor	investor	NOUN
fbem-12572	14	57	according	accord	VERB
fbem-12572	14	58	to	to	ADP
fbem-12572	14	59	their	their	PRON
fbem-12572	14	60	factors	factor	NOUN
fbem-12572	14	61	to	to	PART
fbem-12572	14	62	make	make	VERB
fbem-12572	14	63	value	value	NOUN
fbem-12572	14	64	judgments	judgment	NOUN
fbem-12572	14	65	,	,	PUNCT
fbem-12572	14	66	thus	thus	ADV
fbem-12572	14	67	generating	generate	VERB
fbem-12572	14	68	overconfidence	overconfidence	NOUN
fbem-12572	14	69	(	(	PUNCT
fbem-12572	14	70	overconfidence	overconfidence	NOUN
fbem-12572	14	71	)	)	PUNCT
fbem-12572	14	72	,	,	PUNCT
fbem-12572	14	73	which	which	PRON
fbem-12572	14	74	is	be	AUX
fbem-12572	14	75	the	the	DET
fbem-12572	14	76	most	most	ADV
fbem-12572	14	77	crucial	crucial	ADJ
fbem-12572	14	78	factor	factor	NOUN
fbem-12572	14	79	for	for	ADP
fbem-12572	14	80	investors	investor	NOUN
fbem-12572	14	81	.	.	PUNCT
fbem-12572	15	1	thus	thus	ADV
fbem-12572	15	2	,	,	PUNCT
fbem-12572	15	3	overconfidence	overconfidence	NOUN
fbem-12572	15	4	(	(	PUNCT
fbem-12572	15	5	overconfidence	overconfidence	NOUN
fbem-12572	15	6	)	)	PUNCT
fbem-12572	15	7	pessimism	pessimism	NOUN
fbem-12572	15	8	(	(	PUNCT
fbem-12572	15	9	pessimism	pessimism	NOUN
fbem-12572	15	10	)	)	PUNCT
fbem-12572	15	11	investment	investment	NOUN
fbem-12572	15	12	.	.	PUNCT
fbem-12572	16	1	under	under	ADP
fbem-12572	16	2	these	these	DET
fbem-12572	16	3	conditions	condition	NOUN
fbem-12572	16	4	,	,	PUNCT
fbem-12572	16	5	many	many	ADJ
fbem-12572	16	6	scholars	scholar	NOUN
fbem-12572	16	7	have	have	AUX
fbem-12572	16	8	broadened	broaden	VERB
fbem-12572	16	9	their	their	PRON
fbem-12572	16	10	assumptions	assumption	NOUN
fbem-12572	16	11	,	,	PUNCT
fbem-12572	16	12	and	and	CCONJ
fbem-12572	16	13	"	"	PUNCT
fbem-12572	16	14	behavioral	behavioral	ADJ
fbem-12572	16	15	finance	finance	NOUN
fbem-12572	16	16	"	"	PUNCT
fbem-12572	16	17	has	have	AUX
fbem-12572	16	18	emerged	emerge	VERB
fbem-12572	16	19	.	.	PUNCT
fbem-12572	17	1	"	"	PUNCT
fbem-12572	17	2	behavioural	behavioural	ADJ
fbem-12572	17	3	finance	finance	NOUN
fbem-12572	17	4	"	"	PUNCT
fbem-12572	17	5	is	be	AUX
fbem-12572	17	6	a	a	DET
fbem-12572	17	7	cross	cross	ADJ
fbem-12572	17	8	-	-	ADJ
fbem-12572	17	9	cutting	cutting	ADJ
fbem-12572	17	10	discipline	discipline	NOUN
fbem-12572	17	11	covering	cover	VERB
fbem-12572	17	12	the	the	DET
fbem-12572	17	13	theories	theory	NOUN
fbem-12572	17	14	of	of	ADP
fbem-12572	17	15	economics	economic	NOUN
fbem-12572	17	16	,	,	PUNCT
fbem-12572	17	17	behavioral	behavioral	ADJ
fbem-12572	17	18	science	science	NOUN
fbem-12572	17	19	,	,	PUNCT
fbem-12572	17	20	psychology	psychology	NOUN
fbem-12572	17	21	,	,	PUNCT
fbem-12572	17	22	and	and	CCONJ
fbem-12572	17	23	other	other	ADJ
fbem-12572	17	24	disciplines	discipline	NOUN
fbem-12572	17	25	,	,	PUNCT
fbem-12572	17	26	which	which	PRON
fbem-12572	17	27	entirely	entirely	ADV
fbem-12572	17	28	takes	take	VERB
fbem-12572	17	29	into	into	ADP
fbem-12572	17	30	account	account	NOUN
fbem-12572	17	31	the	the	DET
fbem-12572	17	32	impact	impact	NOUN
fbem-12572	17	33	of	of	ADP
fbem-12572	17	34	investors	investor	NOUN
fbem-12572	17	35	'	'	PART
fbem-12572	17	36	emotional	emotional	ADJ
fbem-12572	17	37	factors	factor	NOUN
fbem-12572	17	38	,	,	PUNCT
fbem-12572	17	39	thinking	think	VERB
fbem-12572	17	40	patterns	pattern	NOUN
fbem-12572	17	41	,	,	PUNCT
fbem-12572	17	42	social	social	ADJ
fbem-12572	17	43	orientation	orientation	NOUN
fbem-12572	17	44	,	,	PUNCT
fbem-12572	17	45	and	and	CCONJ
fbem-12572	17	46	other	other	ADJ
fbem-12572	17	47	aspects	aspect	NOUN
fbem-12572	17	48	of	of	ADP
fbem-12572	17	49	investment	investment	NOUN
fbem-12572	17	50	,	,	PUNCT
fbem-12572	17	51	and	and	CCONJ
fbem-12572	17	52	is	be	AUX
fbem-12572	17	53	developed	develop	VERB
fbem-12572	17	54	based	base	VERB
fbem-12572	17	55	on	on	ADP
fbem-12572	17	56	traditional	traditional	ADJ
fbem-12572	17	57	finance	finance	NOUN
fbem-12572	17	58	.	.	PUNCT
fbem-12572	18	1	however	however	ADV
fbem-12572	18	2	,	,	PUNCT
fbem-12572	18	3	it	it	PRON
fbem-12572	18	4	does	do	AUX
fbem-12572	18	5	not	not	PART
fbem-12572	18	6	negate	negate	VERB
fbem-12572	18	7	it	it	PRON
fbem-12572	18	8	simultaneously	simultaneously	ADV
fbem-12572	18	9	and	and	CCONJ
fbem-12572	18	10	supplements	supplement	NOUN
fbem-12572	18	11	it	it	PRON
fbem-12572	18	12	,	,	PUNCT
fbem-12572	18	13	arguing	argue	VERB
fbem-12572	18	14	that	that	SCONJ
fbem-12572	18	15	investors	investor	NOUN
fbem-12572	18	16	in	in	ADP
fbem-12572	18	17	the	the	DET
fbem-12572	18	18	capital	capital	NOUN
fbem-12572	18	19	market	market	NOUN
fbem-12572	18	20	are	be	AUX
fbem-12572	18	21	"	"	PUNCT
fbem-12572	18	22	non	non	ADJ
fbem-12572	18	23	-	-	ADJ
fbem-12572	18	24	completely	completely	ADV
fbem-12572	18	25	rational	rational	ADJ
fbem-12572	18	26	and	and	CCONJ
fbem-12572	18	27	non	non	ADJ
fbem-12572	18	28	-	-	ADJ
fbem-12572	18	29	completely	completely	ADV
fbem-12572	18	30	irrational	irrational	ADJ
fbem-12572	18	31	.	.	PUNCT
fbem-12572	18	32	"	"	PUNCT
fbem-12572	19	1	at	at	ADP
fbem-12572	19	2	the	the	DET
fbem-12572	19	3	same	same	ADJ
fbem-12572	19	4	time	time	NOUN
fbem-12572	19	5	,	,	PUNCT
fbem-12572	19	6	it	it	PRON
fbem-12572	19	7	can	can	AUX
fbem-12572	19	8	also	also	ADV
fbem-12572	19	9	provide	provide	VERB
fbem-12572	19	10	reasonable	reasonable	ADJ
fbem-12572	19	11	explanations	explanation	NOUN
fbem-12572	19	12	for	for	ADP
fbem-12572	19	13	the	the	DET
fbem-12572	19	14	various	various	ADJ
fbem-12572	19	15	financial	financial	ADJ
fbem-12572	19	16	anomalies	anomaly	NOUN
fbem-12572	19	17	in	in	ADP
fbem-12572	19	18	the	the	DET
fbem-12572	19	19	actual	actual	ADJ
fbem-12572	19	20	market	market	NOUN
fbem-12572	19	21	.	.	PUNCT
fbem-12572	20	1	1.2	1.2	NUM
fbem-12572	20	2	.	.	PUNCT
fbem-12572	20	3	significance	significance	NOUN
fbem-12572	20	4	of	of	ADP
fbem-12572	20	5	the	the	DET
fbem-12572	20	6	study	study	NOUN
fbem-12572	20	7	china	china	PROPN
fbem-12572	20	8	's	's	PART
fbem-12572	20	9	capital	capital	NOUN
fbem-12572	20	10	market	market	NOUN
fbem-12572	20	11	is	be	AUX
fbem-12572	20	12	still	still	ADV
fbem-12572	20	13	in	in	ADP
fbem-12572	20	14	the	the	DET
fbem-12572	20	15	primary	primary	ADJ
fbem-12572	20	16	stage	stage	NOUN
fbem-12572	20	17	;	;	PUNCT
fbem-12572	20	18	the	the	DET
fbem-12572	20	19	market	market	NOUN
fbem-12572	20	20	mechanism	mechanism	NOUN
fbem-12572	20	21	lacks	lack	VERB
fbem-12572	20	22	integrity	integrity	NOUN
fbem-12572	20	23	and	and	CCONJ
fbem-12572	20	24	maturity	maturity	NOUN
fbem-12572	20	25	.	.	PUNCT
fbem-12572	21	1	compared	compare	VERB
fbem-12572	21	2	with	with	ADP
fbem-12572	21	3	the	the	DET
fbem-12572	21	4	mature	mature	ADJ
fbem-12572	21	5	capital	capital	NOUN
fbem-12572	21	6	market	market	NOUN
fbem-12572	21	7	,	,	PUNCT
fbem-12572	21	8	there	there	PRON
fbem-12572	21	9	are	be	VERB
fbem-12572	21	10	underinvestment	underinvestment	ADJ
fbem-12572	21	11	and	and	CCONJ
fbem-12572	21	12	overinvestment	overinvestment	ADJ
fbem-12572	21	13	problems	problem	NOUN
fbem-12572	21	14	.	.	PUNCT
fbem-12572	22	1	the	the	DET
fbem-12572	22	2	market	market	NOUN
fbem-12572	22	3	accounts	account	VERB
fbem-12572	22	4	for	for	ADP
fbem-12572	22	5	the	the	DET
fbem-12572	22	6	majority	majority	NOUN
fbem-12572	22	7	of	of	ADP
fbem-12572	22	8	individual	individual	ADJ
fbem-12572	22	9	investors	investor	NOUN
fbem-12572	22	10	,	,	PUNCT
fbem-12572	22	11	individual	individual	ADJ
fbem-12572	22	12	investors	investor	NOUN
fbem-12572	22	13	compared	compare	VERB
fbem-12572	22	14	to	to	ADP
fbem-12572	22	15	institutional	institutional	ADJ
fbem-12572	22	16	investors	investor	NOUN
fbem-12572	22	17	,	,	PUNCT
fbem-12572	22	18	lack	lack	NOUN
fbem-12572	22	19	of	of	ADP
fbem-12572	22	20	appropriate	appropriate	ADJ
fbem-12572	22	21	professional	professional	ADJ
fbem-12572	22	22	knowledge	knowledge	NOUN
fbem-12572	22	23	and	and	CCONJ
fbem-12572	22	24	practical	practical	ADJ
fbem-12572	22	25	experience	experience	NOUN
fbem-12572	22	26	,	,	PUNCT
fbem-12572	22	27	investment	investment	NOUN
fbem-12572	22	28	decision	decision	NOUN
fbem-12572	22	29	-	-	PUNCT
fbem-12572	22	30	making	making	NOUN
fbem-12572	22	31	by	by	ADP
fbem-12572	22	32	emotional	emotional	ADJ
fbem-12572	22	33	and	and	CCONJ
fbem-12572	22	34	psychological	psychological	ADJ
fbem-12572	22	35	impact	impact	NOUN
fbem-12572	22	36	,	,	PUNCT
fbem-12572	22	37	irrationality	irrationality	NOUN
fbem-12572	22	38	is	be	AUX
fbem-12572	22	39	higher	high	ADJ
fbem-12572	22	40	,	,	PUNCT
fbem-12572	22	41	prone	prone	ADJ
fbem-12572	22	42	to	to	ADP
fbem-12572	22	43	speculation	speculation	NOUN
fbem-12572	22	44	and	and	CCONJ
fbem-12572	22	45	overconfidence	overconfidence	NOUN
fbem-12572	22	46	or	or	CCONJ
fbem-12572	22	47	overcautious	overcautious	ADJ
fbem-12572	22	48	phenomenon	phenomenon	NOUN
fbem-12572	22	49	.	.	PUNCT
fbem-12572	23	1	investor	investor	NOUN
fbem-12572	23	2	's	's	PART
fbem-12572	23	3	emotional	emotional	ADJ
fbem-12572	23	4	investment	investment	NOUN
fbem-12572	23	5	will	will	AUX
fbem-12572	23	6	cause	cause	VERB
fbem-12572	23	7	bias	bias	NOUN
fbem-12572	23	8	in	in	ADP
fbem-12572	23	9	stock	stock	NOUN
fbem-12572	23	10	price	price	NOUN
fbem-12572	23	11	expectations	expectation	NOUN
fbem-12572	23	12	,	,	PUNCT
fbem-12572	23	13	negatively	negatively	ADV
fbem-12572	23	14	affecting	affect	VERB
fbem-12572	23	15	the	the	DET
fbem-12572	23	16	real	real	ADJ
fbem-12572	23	17	economy	economy	NOUN
fbem-12572	23	18	.	.	PUNCT
fbem-12572	24	1	confidence	confidence	NOUN
fbem-12572	24	2	or	or	CCONJ
fbem-12572	24	3	excessive	excessive	ADJ
fbem-12572	24	4	caution	caution	NOUN
fbem-12572	24	5	phenomenon	phenomenon	NOUN
fbem-12572	24	6	and	and	CCONJ
fbem-12572	24	7	investors	investor	NOUN
fbem-12572	24	8	'	'	PART
fbem-12572	24	9	emotional	emotional	ADJ
fbem-12572	24	10	investment	investment	NOUN
fbem-12572	24	11	will	will	AUX
fbem-12572	24	12	cause	cause	VERB
fbem-12572	24	13	the	the	DET
fbem-12572	24	14	deviation	deviation	NOUN
fbem-12572	24	15	of	of	ADP
fbem-12572	24	16	stock	stock	NOUN
fbem-12572	24	17	price	price	NOUN
fbem-12572	24	18	129	129	NUM
fbem-12572	24	19	expectations	expectation	NOUN
fbem-12572	24	20	,	,	PUNCT
fbem-12572	24	21	affecting	affect	VERB
fbem-12572	24	22	the	the	DET
fbem-12572	24	23	enterprise	enterprise	NOUN
fbem-12572	24	24	investment	investment	NOUN
fbem-12572	24	25	decision	decision	NOUN
fbem-12572	24	26	,	,	PUNCT
fbem-12572	24	27	which	which	PRON
fbem-12572	24	28	harms	harm	VERB
fbem-12572	24	29	the	the	DET
fbem-12572	24	30	real	real	ADJ
fbem-12572	24	31	economy	economy	NOUN
fbem-12572	24	32	.	.	PUNCT
fbem-12572	25	1	by	by	ADP
fbem-12572	25	2	studying	study	VERB
fbem-12572	25	3	the	the	DET
fbem-12572	25	4	impact	impact	NOUN
fbem-12572	25	5	of	of	ADP
fbem-12572	25	6	investor	investor	NOUN
fbem-12572	25	7	sentiment	sentiment	NOUN
fbem-12572	25	8	on	on	ADP
fbem-12572	25	9	listed	list	VERB
fbem-12572	25	10	enterprises	enterprise	NOUN
fbem-12572	25	11	'	'	PART
fbem-12572	25	12	investment	investment	NOUN
fbem-12572	25	13	,	,	PUNCT
fbem-12572	25	14	in	in	ADP
fbem-12572	25	15	terms	term	NOUN
fbem-12572	25	16	of	of	ADP
fbem-12572	25	17	theory	theory	NOUN
fbem-12572	25	18	,	,	PUNCT
fbem-12572	25	19	behavioral	behavioral	ADJ
fbem-12572	25	20	finance	finance	NOUN
fbem-12572	25	21	can	can	AUX
fbem-12572	25	22	make	make	VERB
fbem-12572	25	23	practical	practical	ADJ
fbem-12572	25	24	explanations	explanation	NOUN
fbem-12572	25	25	of	of	ADP
fbem-12572	25	26	irrational	irrational	ADJ
fbem-12572	25	27	investment	investment	NOUN
fbem-12572	25	28	behavior	behavior	NOUN
fbem-12572	25	29	in	in	ADP
fbem-12572	25	30	the	the	DET
fbem-12572	25	31	market	market	NOUN
fbem-12572	25	32	and	and	CCONJ
fbem-12572	25	33	integrate	integrate	VERB
fbem-12572	25	34	investor	investor	NOUN
fbem-12572	25	35	sentiment	sentiment	NOUN
fbem-12572	25	36	into	into	ADP
fbem-12572	25	37	the	the	DET
fbem-12572	25	38	study	study	NOUN
fbem-12572	25	39	so	so	SCONJ
fbem-12572	25	40	that	that	SCONJ
fbem-12572	25	41	investor	investor	NOUN
fbem-12572	25	42	sentiment	sentiment	NOUN
fbem-12572	25	43	as	as	ADP
fbem-12572	25	44	a	a	DET
fbem-12572	25	45	theoretical	theoretical	ADJ
fbem-12572	25	46	factor	factor	NOUN
fbem-12572	25	47	for	for	ADP
fbem-12572	25	48	more	more	ADV
fbem-12572	25	49	comprehensive	comprehensive	ADJ
fbem-12572	25	50	analysis	analysis	NOUN
fbem-12572	25	51	of	of	ADP
fbem-12572	25	52	investment	investment	NOUN
fbem-12572	25	53	;	;	PUNCT
fbem-12572	25	54	in	in	ADP
fbem-12572	25	55	terms	term	NOUN
fbem-12572	25	56	of	of	ADP
fbem-12572	25	57	reality	reality	NOUN
fbem-12572	25	58	,	,	PUNCT
fbem-12572	25	59	in	in	ADP
fbem-12572	25	60	the	the	DET
fbem-12572	25	61	case	case	NOUN
fbem-12572	25	62	of	of	ADP
fbem-12572	25	63	china	china	PROPN
fbem-12572	25	64	's	's	PART
fbem-12572	25	65	capital	capital	NOUN
fbem-12572	25	66	market	market	NOUN
fbem-12572	25	67	has	have	AUX
fbem-12572	25	68	not	not	PART
fbem-12572	25	69	yet	yet	ADV
fbem-12572	25	70	matured	mature	VERB
fbem-12572	25	71	,	,	PUNCT
fbem-12572	25	72	the	the	DET
fbem-12572	25	73	study	study	NOUN
fbem-12572	25	74	of	of	ADP
fbem-12572	25	75	irrational	irrational	ADJ
fbem-12572	25	76	factors	factor	NOUN
fbem-12572	25	77	of	of	ADP
fbem-12572	25	78	more	more	ADV
fbem-12572	25	79	practical	practical	ADJ
fbem-12572	25	80	significance	significance	NOUN
fbem-12572	25	81	,	,	PUNCT
fbem-12572	25	82	and	and	CCONJ
fbem-12572	25	83	be	be	AUX
fbem-12572	25	84	able	able	ADJ
fbem-12572	25	85	to	to	PART
fbem-12572	25	86	find	find	VERB
fbem-12572	25	87	and	and	CCONJ
fbem-12572	25	88	reduce	reduce	VERB
fbem-12572	25	89	the	the	DET
fbem-12572	25	90	problem	problem	NOUN
fbem-12572	25	91	of	of	ADP
fbem-12572	25	92	excessive	excessive	ADJ
fbem-12572	25	93	or	or	CCONJ
fbem-12572	25	94	insufficient	insufficient	ADJ
fbem-12572	25	95	investment	investment	NOUN
fbem-12572	25	96	of	of	ADP
fbem-12572	25	97	enterprises	enterprise	NOUN
fbem-12572	25	98	,	,	PUNCT
fbem-12572	25	99	and	and	CCONJ
fbem-12572	25	100	guide	guide	VERB
fbem-12572	25	101	enterprises	enterprise	NOUN
fbem-12572	25	102	to	to	PART
fbem-12572	25	103	make	make	VERB
fbem-12572	25	104	reasonable	reasonable	ADJ
fbem-12572	25	105	and	and	CCONJ
fbem-12572	25	106	correct	correct	ADJ
fbem-12572	25	107	investment	investment	NOUN
fbem-12572	25	108	decisions	decision	NOUN
fbem-12572	25	109	.	.	PUNCT
fbem-12572	26	1	2	2	X
fbem-12572	26	2	.	.	X
fbem-12572	26	3	literature	literature	NOUN
fbem-12572	26	4	review	review	VERB
fbem-12572	26	5	2.1	2.1	NUM
fbem-12572	26	6	.	.	PUNCT
fbem-12572	27	1	investor	investor	NOUN
fbem-12572	27	2	sentiment	sentiment	NOUN
fbem-12572	27	3	2.1.1	2.1.1	NUM
fbem-12572	27	4	.	.	PUNCT
fbem-12572	28	1	definition	definition	NOUN
fbem-12572	28	2	of	of	ADP
fbem-12572	28	3	investor	investor	NOUN
fbem-12572	28	4	sentiment	sentiment	NOUN
fbem-12572	28	5	the	the	DET
fbem-12572	28	6	definition	definition	NOUN
fbem-12572	28	7	of	of	ADP
fbem-12572	28	8	investor	investor	NOUN
fbem-12572	28	9	sentiment	sentiment	NOUN
fbem-12572	28	10	has	have	AUX
fbem-12572	28	11	been	be	AUX
fbem-12572	28	12	broadly	broadly	ADV
fbem-12572	28	13	divided	divide	VERB
fbem-12572	28	14	into	into	ADP
fbem-12572	28	15	two	two	NUM
fbem-12572	28	16	aspects	aspect	NOUN
fbem-12572	28	17	:	:	PUNCT
fbem-12572	28	18	in	in	ADP
fbem-12572	28	19	finance	finance	NOUN
fbem-12572	28	20	,	,	PUNCT
fbem-12572	28	21	it	it	PRON
fbem-12572	28	22	is	be	AUX
fbem-12572	28	23	defined	define	VERB
fbem-12572	28	24	as	as	ADP
fbem-12572	28	25	the	the	DET
fbem-12572	28	26	mispricing	mispricing	NOUN
fbem-12572	28	27	of	of	ADP
fbem-12572	28	28	stocks	stock	NOUN
fbem-12572	28	29	or	or	CCONJ
fbem-12572	28	30	investment	investment	NOUN
fbem-12572	28	31	bias	bias	NOUN
fbem-12572	28	32	,	,	PUNCT
fbem-12572	28	33	i.e.	i.e.	X
fbem-12572	28	34	,	,	PUNCT
fbem-12572	28	35	the	the	DET
fbem-12572	28	36	deviation	deviation	NOUN
fbem-12572	28	37	of	of	ADP
fbem-12572	28	38	the	the	DET
fbem-12572	28	39	investor	investor	NOUN
fbem-12572	28	40	's	's	PART
fbem-12572	28	41	estimate	estimate	NOUN
fbem-12572	28	42	of	of	ADP
fbem-12572	28	43	the	the	DET
fbem-12572	28	44	price	price	NOUN
fbem-12572	28	45	of	of	ADP
fbem-12572	28	46	a	a	DET
fbem-12572	28	47	stock	stock	NOUN
fbem-12572	28	48	from	from	ADP
fbem-12572	28	49	the	the	DET
fbem-12572	28	50	stock	stock	NOUN
fbem-12572	28	51	's	's	PART
fbem-12572	28	52	intrinsic	intrinsic	ADJ
fbem-12572	28	53	value	value	NOUN
fbem-12572	28	54	(	(	PUNCT
fbem-12572	28	55	overestimation	overestimation	NOUN
fbem-12572	28	56	or	or	CCONJ
fbem-12572	28	57	underestimation	underestimation	NOUN
fbem-12572	28	58	)	)	PUNCT
fbem-12572	28	59	;	;	PUNCT
fbem-12572	28	60	and	and	CCONJ
fbem-12572	28	61	in	in	ADP
fbem-12572	28	62	psychology	psychology	NOUN
fbem-12572	28	63	,	,	PUNCT
fbem-12572	28	64	it	it	PRON
fbem-12572	28	65	is	be	AUX
fbem-12572	28	66	regarded	regard	VERB
fbem-12572	28	67	as	as	ADP
fbem-12572	28	68	a	a	DET
fbem-12572	28	69	kind	kind	NOUN
fbem-12572	28	70	of	of	ADP
fbem-12572	28	71	psychological	psychological	ADJ
fbem-12572	28	72	cognition	cognition	NOUN
fbem-12572	28	73	.	.	PUNCT
fbem-12572	29	1	in	in	ADP
fbem-12572	29	2	this	this	DET
fbem-12572	29	3	paper	paper	NOUN
fbem-12572	29	4	,	,	PUNCT
fbem-12572	29	5	investor	investor	NOUN
fbem-12572	29	6	sentiment	sentiment	NOUN
fbem-12572	29	7	can	can	AUX
fbem-12572	29	8	also	also	ADV
fbem-12572	29	9	be	be	AUX
fbem-12572	29	10	considered	consider	VERB
fbem-12572	29	11	a	a	DET
fbem-12572	29	12	measure	measure	NOUN
fbem-12572	29	13	of	of	ADP
fbem-12572	29	14	"	"	PUNCT
fbem-12572	29	15	irrationality	irrationality	NOUN
fbem-12572	29	16	,	,	PUNCT
fbem-12572	29	17	"	"	PUNCT
fbem-12572	29	18	but	but	CCONJ
fbem-12572	29	19	"	"	PUNCT
fbem-12572	29	20	sentiment	sentiment	NOUN
fbem-12572	29	21	"	"	PUNCT
fbem-12572	29	22	is	be	AUX
fbem-12572	29	23	challenging	challenge	VERB
fbem-12572	29	24	to	to	PART
fbem-12572	29	25	measure	measure	VERB
fbem-12572	29	26	due	due	ADP
fbem-12572	29	27	to	to	ADP
fbem-12572	29	28	its	its	PRON
fbem-12572	29	29	subjective	subjective	ADJ
fbem-12572	29	30	solid	solid	ADJ
fbem-12572	29	31	color	color	NOUN
fbem-12572	29	32	,	,	PUNCT
fbem-12572	29	33	and	and	CCONJ
fbem-12572	29	34	many	many	ADJ
fbem-12572	29	35	scholars	scholar	NOUN
fbem-12572	29	36	have	have	AUX
fbem-12572	29	37	conducted	conduct	VERB
fbem-12572	29	38	in	in	ADP
fbem-12572	29	39	-	-	PUNCT
fbem-12572	29	40	depth	depth	NOUN
fbem-12572	29	41	studies	study	NOUN
fbem-12572	29	42	on	on	ADP
fbem-12572	29	43	investor	investor	NOUN
fbem-12572	29	44	sentiment	sentiment	NOUN
fbem-12572	29	45	.	.	PUNCT
fbem-12572	30	1	early	early	ADV
fbem-12572	30	2	in	in	ADP
fbem-12572	30	3	the	the	DET
fbem-12572	30	4	20th	20th	ADJ
fbem-12572	30	5	century	century	NOUN
fbem-12572	30	6	,	,	PUNCT
fbem-12572	30	7	keynes	keynes	PROPN
fbem-12572	30	8	first	first	ADV
fbem-12572	30	9	proposed	propose	VERB
fbem-12572	30	10	that	that	SCONJ
fbem-12572	30	11	changes	change	NOUN
fbem-12572	30	12	in	in	ADP
fbem-12572	30	13	investor	investor	NOUN
fbem-12572	30	14	sentiment	sentiment	NOUN
fbem-12572	30	15	would	would	AUX
fbem-12572	30	16	impact	impact	VERB
fbem-12572	30	17	corporate	corporate	ADJ
fbem-12572	30	18	investment	investment	NOUN
fbem-12572	30	19	decisions	decision	NOUN
fbem-12572	30	20	.	.	PUNCT
fbem-12572	31	1	investor	investor	NOUN
fbem-12572	31	2	sentiment	sentiment	NOUN
fbem-12572	31	3	in	in	ADP
fbem-12572	31	4	irrational	irrational	ADJ
fbem-12572	31	5	situations	situation	NOUN
fbem-12572	31	6	,	,	PUNCT
fbem-12572	31	7	investors	investor	NOUN
fbem-12572	31	8	due	due	ADP
fbem-12572	31	9	to	to	ADP
fbem-12572	31	10	their	their	PRON
fbem-12572	31	11	personality	personality	NOUN
fbem-12572	31	12	traits	trait	NOUN
fbem-12572	31	13	,	,	PUNCT
fbem-12572	31	14	risk	risk	NOUN
fbem-12572	31	15	appetite	appetite	NOUN
fbem-12572	31	16	,	,	PUNCT
fbem-12572	31	17	and	and	CCONJ
fbem-12572	31	18	other	other	ADJ
fbem-12572	31	19	aspects	aspect	NOUN
fbem-12572	31	20	of	of	ADP
fbem-12572	31	21	the	the	DET
fbem-12572	31	22	differentiation	differentiation	NOUN
fbem-12572	31	23	of	of	ADP
fbem-12572	31	24	the	the	DET
fbem-12572	31	25	enterprise	enterprise	NOUN
fbem-12572	31	26	's	's	PART
fbem-12572	31	27	future	future	ADJ
fbem-12572	31	28	cash	cash	NOUN
fbem-12572	31	29	flow	flow	NOUN
fbem-12572	31	30	expectations	expectation	NOUN
fbem-12572	31	31	,	,	PUNCT
fbem-12572	31	32	have	have	VERB
fbem-12572	31	33	a	a	DET
fbem-12572	31	34	particular	particular	ADJ
fbem-12572	31	35	deviation	deviation	NOUN
fbem-12572	31	36	,	,	PUNCT
fbem-12572	31	37	and	and	CCONJ
fbem-12572	31	38	then	then	ADV
fbem-12572	31	39	because	because	SCONJ
fbem-12572	31	40	of	of	ADP
fbem-12572	31	41	the	the	DET
fbem-12572	31	42	risk	risk	NOUN
fbem-12572	31	43	of	of	ADP
fbem-12572	31	44	arbitrage	arbitrage	NOUN
fbem-12572	31	45	behavior	behavior	NOUN
fbem-12572	31	46	so	so	SCONJ
fbem-12572	31	47	that	that	SCONJ
fbem-12572	31	48	investors	investor	NOUN
fbem-12572	31	49	are	be	AUX
fbem-12572	31	50	not	not	PART
fbem-12572	31	51	necessarily	necessarily	ADV
fbem-12572	31	52	arbitrage	arbitrage	NOUN
fbem-12572	31	53	,	,	PUNCT
fbem-12572	31	54	only	only	ADV
fbem-12572	31	55	when	when	SCONJ
fbem-12572	31	56	investors	investor	NOUN
fbem-12572	31	57	believe	believe	VERB
fbem-12572	31	58	that	that	SCONJ
fbem-12572	31	59	the	the	DET
fbem-12572	31	60	arbitrage	arbitrage	NOUN
fbem-12572	31	61	benefit	benefit	NOUN
fbem-12572	31	62	is	be	AUX
fbem-12572	31	63	greater	great	ADJ
fbem-12572	31	64	than	than	ADP
fbem-12572	31	65	the	the	DET
fbem-12572	31	66	risk	risk	NOUN
fbem-12572	31	67	of	of	ADP
fbem-12572	31	68	choosing	choose	VERB
fbem-12572	31	69	arbitrage	arbitrage	NOUN
fbem-12572	31	70	.	.	PUNCT
fbem-12572	32	1	1996	1996	NUM
fbem-12572	32	2	stein	stein	PROPN
fbem-12572	32	3	that	that	SCONJ
fbem-12572	32	4	it	it	PRON
fbem-12572	32	5	is	be	AUX
fbem-12572	32	6	the	the	DET
fbem-12572	32	7	investor	investor	NOUN
fbem-12572	32	8	's	's	PART
fbem-12572	32	9	estimate	estimate	NOUN
fbem-12572	32	10	of	of	ADP
fbem-12572	32	11	the	the	DET
fbem-12572	32	12	stock	stock	NOUN
fbem-12572	32	13	price	price	NOUN
fbem-12572	32	14	and	and	CCONJ
fbem-12572	32	15	the	the	DET
fbem-12572	32	16	intrinsic	intrinsic	ADJ
fbem-12572	32	17	stock	stock	NOUN
fbem-12572	32	18	deviation	deviation	NOUN
fbem-12572	32	19	from	from	ADP
fbem-12572	32	20	the	the	DET
fbem-12572	32	21	stock	stock	NOUN
fbem-12572	32	22	's	's	PART
fbem-12572	32	23	intrinsic	intrinsic	ADJ
fbem-12572	32	24	value	value	NOUN
fbem-12572	32	25	,	,	PUNCT
fbem-12572	32	26	with	with	ADP
fbem-12572	32	27	optimistic	optimistic	ADJ
fbem-12572	32	28	investor	investor	NOUN
fbem-12572	32	29	sentiment	sentiment	NOUN
fbem-12572	32	30	overestimating	overestimate	VERB
fbem-12572	32	31	the	the	DET
fbem-12572	32	32	stock	stock	NOUN
fbem-12572	32	33	price	price	NOUN
fbem-12572	32	34	and	and	CCONJ
fbem-12572	32	35	pessimistic	pessimistic	ADJ
fbem-12572	32	36	investor	investor	NOUN
fbem-12572	32	37	sentiment	sentiment	NOUN
fbem-12572	32	38	underestimating	underestimate	VERB
fbem-12572	32	39	the	the	DET
fbem-12572	32	40	stock	stock	NOUN
fbem-12572	32	41	price	price	NOUN
fbem-12572	32	42	.	.	PUNCT
fbem-12572	33	1	1997shleifer	1997shleifer	NUM
fbem-12572	33	2	suggested	suggest	VERB
fbem-12572	33	3	that	that	SCONJ
fbem-12572	33	4	from	from	ADP
fbem-12572	33	5	a	a	DET
fbem-12572	33	6	psychological	psychological	ADJ
fbem-12572	33	7	perspective	perspective	NOUN
fbem-12572	33	8	,	,	PUNCT
fbem-12572	33	9	investor	investor	NOUN
fbem-12572	33	10	sentiment	sentiment	NOUN
fbem-12572	33	11	is	be	AUX
fbem-12572	33	12	a	a	DET
fbem-12572	33	13	situation	situation	NOUN
fbem-12572	33	14	in	in	ADP
fbem-12572	33	15	which	which	PRON
fbem-12572	33	16	investors	investor	NOUN
fbem-12572	33	17	make	make	VERB
fbem-12572	33	18	errors	error	NOUN
fbem-12572	33	19	in	in	ADP
fbem-12572	33	20	value	value	NOUN
fbem-12572	33	21	judgment	judgment	NOUN
fbem-12572	33	22	and	and	CCONJ
fbem-12572	33	23	that	that	SCONJ
fbem-12572	33	24	each	each	DET
fbem-12572	33	25	type	type	NOUN
fbem-12572	33	26	of	of	ADP
fbem-12572	33	27	error	error	NOUN
fbem-12572	33	28	is	be	AUX
fbem-12572	33	29	the	the	DET
fbem-12572	33	30	same	same	ADJ
fbem-12572	33	31	and	and	CCONJ
fbem-12572	33	32	related	relate	VERB
fbem-12572	33	33	to	to	ADP
fbem-12572	33	34	the	the	DET
fbem-12572	33	35	other	other	ADJ
fbem-12572	33	36	.	.	PUNCT
fbem-12572	34	1	2006	2006	NUM
fbem-12572	34	2	baker	baker	PROPN
fbem-12572	34	3	and	and	CCONJ
fbem-12572	34	4	wurgler	wurgler	NOUN
fbem-12572	34	5	argued	argue	VERB
fbem-12572	34	6	that	that	SCONJ
fbem-12572	34	7	investors	investor	NOUN
fbem-12572	34	8	'	'	PART
fbem-12572	34	9	speculative	speculative	ADJ
fbem-12572	34	10	tendencies	tendency	NOUN
fbem-12572	34	11	due	due	ADP
fbem-12572	34	12	to	to	ADP
fbem-12572	34	13	their	their	PRON
fbem-12572	34	14	moods	mood	NOUN
fbem-12572	34	15	will	will	AUX
fbem-12572	34	16	lead	lead	VERB
fbem-12572	34	17	to	to	ADP
fbem-12572	34	18	the	the	DET
fbem-12572	34	19	emergence	emergence	NOUN
fbem-12572	34	20	of	of	ADP
fbem-12572	34	21	speculative	speculative	ADJ
fbem-12572	34	22	investments	investment	NOUN
fbem-12572	34	23	,	,	PUNCT
fbem-12572	34	24	which	which	PRON
fbem-12572	34	25	depends	depend	VERB
fbem-12572	34	26	on	on	ADP
fbem-12572	34	27	the	the	DET
fbem-12572	34	28	information	information	NOUN
fbem-12572	34	29	processing	processing	NOUN
fbem-12572	34	30	ability	ability	NOUN
fbem-12572	34	31	of	of	ADP
fbem-12572	34	32	investors	investor	NOUN
fbem-12572	34	33	and	and	CCONJ
fbem-12572	34	34	the	the	DET
fbem-12572	34	35	interactions	interaction	NOUN
fbem-12572	34	36	between	between	ADP
fbem-12572	34	37	investors	investor	NOUN
fbem-12572	34	38	.	.	PUNCT
fbem-12572	35	1	2.1.2	2.1.2	X
fbem-12572	35	2	.	.	NUM
fbem-12572	35	3	mechanisms	mechanism	NOUN
fbem-12572	35	4	of	of	ADP
fbem-12572	35	5	investor	investor	NOUN
fbem-12572	35	6	sentiment	sentiment	NOUN
fbem-12572	35	7	the	the	DET
fbem-12572	35	8	mechanism	mechanism	NOUN
fbem-12572	35	9	of	of	ADP
fbem-12572	35	10	investor	investor	NOUN
fbem-12572	35	11	sentiment	sentiment	NOUN
fbem-12572	35	12	is	be	AUX
fbem-12572	35	13	closely	closely	ADV
fbem-12572	35	14	related	relate	VERB
fbem-12572	35	15	to	to	ADP
fbem-12572	35	16	behavioral	behavioral	ADJ
fbem-12572	35	17	finance	finance	NOUN
fbem-12572	35	18	,	,	PUNCT
fbem-12572	35	19	and	and	CCONJ
fbem-12572	35	20	merging	merge	VERB
fbem-12572	35	21	psychology	psychology	NOUN
fbem-12572	35	22	and	and	CCONJ
fbem-12572	35	23	finance	finance	NOUN
fbem-12572	35	24	is	be	AUX
fbem-12572	35	25	expected	expect	VERB
fbem-12572	35	26	in	in	ADP
fbem-12572	35	27	fundamental	fundamental	ADJ
fbem-12572	35	28	markets	market	NOUN
fbem-12572	35	29	.	.	PUNCT
fbem-12572	36	1	overconfidence	overconfidence	NOUN
fbem-12572	36	2	overconfidence	overconfidence	NOUN
fbem-12572	36	3	,	,	PUNCT
fbem-12572	36	4	as	as	SCONJ
fbem-12572	36	5	the	the	DET
fbem-12572	36	6	name	name	NOUN
fbem-12572	36	7	suggests	suggest	VERB
fbem-12572	36	8	,	,	PUNCT
fbem-12572	36	9	is	be	AUX
fbem-12572	36	10	the	the	DET
fbem-12572	36	11	phenomenon	phenomenon	NOUN
fbem-12572	36	12	of	of	ADP
fbem-12572	36	13	investors	investor	NOUN
fbem-12572	36	14	placing	place	VERB
fbem-12572	36	15	too	too	ADV
fbem-12572	36	16	much	much	ADJ
fbem-12572	36	17	trust	trust	NOUN
fbem-12572	36	18	in	in	ADP
fbem-12572	36	19	their	their	PRON
fbem-12572	36	20	judgment	judgment	NOUN
fbem-12572	36	21	and	and	CCONJ
fbem-12572	36	22	thus	thus	ADV
fbem-12572	36	23	making	make	VERB
fbem-12572	36	24	incorrect	incorrect	ADJ
fbem-12572	36	25	investment	investment	NOUN
fbem-12572	36	26	decisions	decision	NOUN
fbem-12572	36	27	,	,	PUNCT
fbem-12572	36	28	which	which	PRON
fbem-12572	36	29	is	be	AUX
fbem-12572	36	30	often	often	ADV
fbem-12572	36	31	reflected	reflect	VERB
fbem-12572	36	32	in	in	ADP
fbem-12572	36	33	the	the	DET
fbem-12572	36	34	market	market	NOUN
fbem-12572	36	35	by	by	ADP
fbem-12572	36	36	overestimating	overestimate	VERB
fbem-12572	36	37	returns	return	NOUN
fbem-12572	36	38	and	and	CCONJ
fbem-12572	36	39	underestimating	underestimate	VERB
fbem-12572	36	40	risks	risk	NOUN
fbem-12572	36	41	and	and	CCONJ
fbem-12572	36	42	is	be	AUX
fbem-12572	36	43	defined	define	VERB
fbem-12572	36	44	in	in	ADP
fbem-12572	36	45	financial	financial	ADJ
fbem-12572	36	46	theory	theory	NOUN
fbem-12572	36	47	as	as	SCONJ
fbem-12572	36	48	investor	investor	NOUN
fbem-12572	36	49	overconfidence	overconfidence	NOUN
fbem-12572	36	50	cognitive	cognitive	ADJ
fbem-12572	36	51	bias	bias	NOUN
fbem-12572	36	52	is	be	AUX
fbem-12572	36	53	defined	define	VERB
fbem-12572	36	54	as	as	ADP
fbem-12572	36	55	an	an	DET
fbem-12572	36	56	investor	investor	NOUN
fbem-12572	36	57	's	's	PART
fbem-12572	36	58	overestimation	overestimation	NOUN
fbem-12572	36	59	of	of	ADP
fbem-12572	36	60	the	the	DET
fbem-12572	36	61	quality	quality	NOUN
fbem-12572	36	62	of	of	ADP
fbem-12572	36	63	the	the	DET
fbem-12572	36	64	information	information	NOUN
fbem-12572	36	65	he	he	PRON
fbem-12572	36	66	or	or	CCONJ
fbem-12572	36	67	she	she	PRON
fbem-12572	36	68	has	have	VERB
fbem-12572	36	69	at	at	ADP
fbem-12572	36	70	his	his	PRON
fbem-12572	36	71	or	or	CCONJ
fbem-12572	36	72	her	her	PRON
fbem-12572	36	73	disposal	disposal	NOUN
fbem-12572	36	74	.	.	PUNCT
fbem-12572	37	1	overconfidence	overconfidence	NOUN
fbem-12572	37	2	is	be	AUX
fbem-12572	37	3	also	also	ADV
fbem-12572	37	4	reflected	reflect	VERB
fbem-12572	37	5	in	in	ADP
fbem-12572	37	6	the	the	DET
fbem-12572	37	7	noise	noise	NOUN
fbem-12572	37	8	trading	trading	NOUN
fbem-12572	37	9	model	model	NOUN
fbem-12572	37	10	,	,	PUNCT
fbem-12572	37	11	where	where	SCONJ
fbem-12572	37	12	noise	noise	NOUN
fbem-12572	37	13	trading	trading	NOUN
fbem-12572	37	14	refers	refer	VERB
fbem-12572	37	15	to	to	ADP
fbem-12572	37	16	the	the	DET
fbem-12572	37	17	use	use	NOUN
fbem-12572	37	18	of	of	ADP
fbem-12572	37	19	uncertain	uncertain	ADJ
fbem-12572	37	20	information	information	NOUN
fbem-12572	37	21	by	by	ADP
fbem-12572	37	22	investors	investor	NOUN
fbem-12572	37	23	to	to	PART
fbem-12572	37	24	conduct	conduct	VERB
fbem-12572	37	25	investment	investment	NOUN
fbem-12572	37	26	transactions	transaction	NOUN
fbem-12572	37	27	,	,	PUNCT
fbem-12572	37	28	which	which	PRON
fbem-12572	37	29	account	account	VERB
fbem-12572	37	30	for	for	ADP
fbem-12572	37	31	a	a	DET
fbem-12572	37	32	large	large	ADJ
fbem-12572	37	33	proportion	proportion	NOUN
fbem-12572	37	34	of	of	ADP
fbem-12572	37	35	irrationality	irrationality	NOUN
fbem-12572	37	36	,	,	PUNCT
fbem-12572	37	37	usually	usually	ADV
fbem-12572	37	38	causing	cause	VERB
fbem-12572	37	39	prices	price	NOUN
fbem-12572	37	40	to	to	PART
fbem-12572	37	41	deviate	deviate	VERB
fbem-12572	37	42	,	,	PUNCT
fbem-12572	37	43	which	which	PRON
fbem-12572	37	44	brings	bring	VERB
fbem-12572	37	45	about	about	ADP
fbem-12572	37	46	mispricing	misprice	VERB
fbem-12572	37	47	in	in	ADP
fbem-12572	37	48	the	the	DET
fbem-12572	37	49	market	market	NOUN
fbem-12572	37	50	.	.	PUNCT
fbem-12572	38	1	psychological	psychological	ADJ
fbem-12572	38	2	account	account	NOUN
fbem-12572	38	3	psychological	psychological	ADJ
fbem-12572	38	4	accounts	account	NOUN
fbem-12572	38	5	,	,	PUNCT
fbem-12572	38	6	including	include	VERB
fbem-12572	38	7	psychological	psychological	ADJ
fbem-12572	38	8	and	and	CCONJ
fbem-12572	38	9	economic	economic	ADJ
fbem-12572	38	10	concepts	concept	NOUN
fbem-12572	38	11	,	,	PUNCT
fbem-12572	38	12	are	be	AUX
fbem-12572	38	13	created	create	VERB
fbem-12572	38	14	when	when	SCONJ
fbem-12572	38	15	subjects	subject	NOUN
fbem-12572	38	16	involved	involve	VERB
fbem-12572	38	17	in	in	ADP
fbem-12572	38	18	market	market	NOUN
fbem-12572	38	19	transactions	transaction	NOUN
fbem-12572	38	20	weigh	weigh	VERB
fbem-12572	38	21	the	the	DET
fbem-12572	38	22	costs	cost	NOUN
fbem-12572	38	23	and	and	CCONJ
fbem-12572	38	24	benefits	benefit	NOUN
fbem-12572	38	25	of	of	ADP
fbem-12572	38	26	trading	trade	VERB
fbem-12572	38	27	through	through	ADP
fbem-12572	38	28	historical	historical	ADJ
fbem-12572	38	29	trading	trading	NOUN
fbem-12572	38	30	experience	experience	NOUN
fbem-12572	38	31	and	and	CCONJ
fbem-12572	38	32	results	result	NOUN
fbem-12572	38	33	.	.	PUNCT
fbem-12572	39	1	creating	create	VERB
fbem-12572	39	2	a	a	DET
fbem-12572	39	3	psychological	psychological	ADJ
fbem-12572	39	4	account	account	NOUN
fbem-12572	39	5	can	can	AUX
fbem-12572	39	6	lead	lead	VERB
fbem-12572	39	7	to	to	ADP
fbem-12572	39	8	price	price	NOUN
fbem-12572	39	9	perception	perception	NOUN
fbem-12572	39	10	bias	bias	NOUN
fbem-12572	39	11	,	,	PUNCT
fbem-12572	39	12	whereby	whereby	SCONJ
fbem-12572	39	13	an	an	DET
fbem-12572	39	14	investor	investor	NOUN
fbem-12572	39	15	will	will	AUX
fbem-12572	39	16	be	be	AUX
fbem-12572	39	17	bullish	bullish	ADJ
fbem-12572	39	18	on	on	ADP
fbem-12572	39	19	short	short	ADJ
fbem-12572	39	20	-	-	PUNCT
fbem-12572	39	21	term	term	NOUN
fbem-12572	39	22	gains	gain	NOUN
fbem-12572	39	23	and	and	CCONJ
fbem-12572	39	24	bearish	bearish	ADJ
fbem-12572	39	25	on	on	ADP
fbem-12572	39	26	losses	loss	NOUN
fbem-12572	39	27	while	while	SCONJ
fbem-12572	39	28	trading	trade	VERB
fbem-12572	39	29	financial	financial	ADJ
fbem-12572	39	30	products	product	NOUN
fbem-12572	39	31	in	in	ADP
fbem-12572	39	32	the	the	DET
fbem-12572	39	33	financial	financial	ADJ
fbem-12572	39	34	markets	market	NOUN
fbem-12572	39	35	.	.	PUNCT
fbem-12572	40	1	herd	herd	ADJ
fbem-12572	40	2	effect	effect	NOUN
fbem-12572	40	3	the	the	DET
fbem-12572	40	4	herd	herd	NOUN
fbem-12572	40	5	effect	effect	NOUN
fbem-12572	40	6	,	,	PUNCT
fbem-12572	40	7	or	or	CCONJ
fbem-12572	40	8	herd	herd	NOUN
fbem-12572	40	9	mentality	mentality	NOUN
fbem-12572	40	10	,	,	PUNCT
fbem-12572	40	11	refers	refer	VERB
fbem-12572	40	12	in	in	ADP
fbem-12572	40	13	financial	financial	ADJ
fbem-12572	40	14	concepts	concept	NOUN
fbem-12572	40	15	to	to	ADP
fbem-12572	40	16	the	the	DET
fbem-12572	40	17	lack	lack	NOUN
fbem-12572	40	18	of	of	ADP
fbem-12572	40	19	independent	independent	ADJ
fbem-12572	40	20	thinking	thinking	NOUN
fbem-12572	40	21	on	on	ADP
fbem-12572	40	22	the	the	DET
fbem-12572	40	23	part	part	NOUN
fbem-12572	40	24	of	of	ADP
fbem-12572	40	25	investors	investor	NOUN
fbem-12572	40	26	who	who	PRON
fbem-12572	40	27	blindly	blindly	ADV
fbem-12572	40	28	follow	follow	VERB
fbem-12572	40	29	popular	popular	ADJ
fbem-12572	40	30	investment	investment	NOUN
fbem-12572	40	31	trends	trend	NOUN
fbem-12572	40	32	and	and	CCONJ
fbem-12572	40	33	follow	follow	VERB
fbem-12572	40	34	the	the	DET
fbem-12572	40	35	herd	herd	NOUN
fbem-12572	40	36	in	in	ADP
fbem-12572	40	37	the	the	DET
fbem-12572	40	38	face	face	NOUN
fbem-12572	40	39	of	of	ADP
fbem-12572	40	40	a	a	DET
fbem-12572	40	41	high	high	ADJ
fbem-12572	40	42	degree	degree	NOUN
fbem-12572	40	43	of	of	ADP
fbem-12572	40	44	information	information	NOUN
fbem-12572	40	45	asymmetry	asymmetry	NOUN
fbem-12572	40	46	and	and	CCONJ
fbem-12572	40	47	high	high	ADJ
fbem-12572	40	48	information	information	NOUN
fbem-12572	40	49	costs	cost	NOUN
fbem-12572	40	50	in	in	ADP
fbem-12572	40	51	the	the	DET
fbem-12572	40	52	capital	capital	NOUN
fbem-12572	40	53	market	market	NOUN
fbem-12572	40	54	.	.	PUNCT
fbem-12572	41	1	this	this	DET
fbem-12572	41	2	mechanism	mechanism	NOUN
fbem-12572	41	3	is	be	AUX
fbem-12572	41	4	very	very	ADV
fbem-12572	41	5	prone	prone	ADJ
fbem-12572	41	6	to	to	ADP
fbem-12572	41	7	the	the	DET
fbem-12572	41	8	problems	problem	NOUN
fbem-12572	41	9	of	of	ADP
fbem-12572	41	10	capital	capital	NOUN
fbem-12572	41	11	market	market	NOUN
fbem-12572	41	12	manipulation	manipulation	NOUN
fbem-12572	41	13	and	and	CCONJ
fbem-12572	41	14	greater	great	ADJ
fbem-12572	41	15	market	market	NOUN
fbem-12572	41	16	volatility	volatility	NOUN
fbem-12572	41	17	.	.	PUNCT
fbem-12572	42	1	2.2	2.2	NUM
fbem-12572	42	2	.	.	PUNCT
fbem-12572	43	1	the	the	DET
fbem-12572	43	2	impact	impact	NOUN
fbem-12572	43	3	of	of	ADP
fbem-12572	43	4	investor	investor	NOUN
fbem-12572	43	5	sentiment	sentiment	NOUN
fbem-12572	43	6	on	on	ADP
fbem-12572	43	7	corporate	corporate	ADJ
fbem-12572	43	8	investment	investment	NOUN
fbem-12572	43	9	behavior	behavior	NOUN
fbem-12572	43	10	the	the	DET
fbem-12572	43	11	impact	impact	NOUN
fbem-12572	43	12	of	of	ADP
fbem-12572	43	13	investor	investor	NOUN
fbem-12572	43	14	sentiment	sentiment	NOUN
fbem-12572	43	15	on	on	ADP
fbem-12572	43	16	the	the	DET
fbem-12572	43	17	investment	investment	NOUN
fbem-12572	43	18	behavior	behavior	NOUN
fbem-12572	43	19	of	of	ADP
fbem-12572	43	20	listed	list	VERB
fbem-12572	43	21	firms	firm	NOUN
fbem-12572	43	22	is	be	AUX
fbem-12572	43	23	mainly	mainly	ADV
fbem-12572	43	24	divided	divide	VERB
fbem-12572	43	25	into	into	ADP
fbem-12572	43	26	the	the	DET
fbem-12572	43	27	impact	impact	NOUN
fbem-12572	43	28	on	on	ADP
fbem-12572	43	29	the	the	DET
fbem-12572	43	30	scale	scale	NOUN
fbem-12572	43	31	of	of	ADP
fbem-12572	43	32	corporate	corporate	ADJ
fbem-12572	43	33	investment	investment	NOUN
fbem-12572	43	34	and	and	CCONJ
fbem-12572	43	35	investment	investment	NOUN
fbem-12572	43	36	efficiency	efficiency	NOUN
fbem-12572	43	37	.	.	PUNCT
fbem-12572	44	1	the	the	DET
fbem-12572	44	2	impact	impact	NOUN
fbem-12572	44	3	on	on	ADP
fbem-12572	44	4	the	the	DET
fbem-12572	44	5	enterprise	enterprise	NOUN
fbem-12572	44	6	investment	investment	NOUN
fbem-12572	44	7	scale	scale	NOUN
fbem-12572	44	8	can	can	AUX
fbem-12572	44	9	be	be	AUX
fbem-12572	44	10	traced	trace	VERB
fbem-12572	44	11	back	back	ADV
fbem-12572	44	12	to	to	ADP
fbem-12572	44	13	1996	1996	NUM
fbem-12572	44	14	.	.	PUNCT
fbem-12572	45	1	stein	stein	PROPN
fbem-12572	45	2	,	,	PUNCT
fbem-12572	45	3	through	through	ADP
fbem-12572	45	4	the	the	DET
fbem-12572	45	5	above	above	ADJ
fbem-12572	45	6	research	research	NOUN
fbem-12572	45	7	,	,	PUNCT
fbem-12572	45	8	further	far	ADV
fbem-12572	45	9	proposed	propose	VERB
fbem-12572	45	10	by	by	ADP
fbem-12572	45	11	investor	investor	NOUN
fbem-12572	45	12	sentiment	sentiment	NOUN
fbem-12572	45	13	,	,	PUNCT
fbem-12572	45	14	investor	investor	NOUN
fbem-12572	45	15	stock	stock	NOUN
fbem-12572	45	16	valuation	valuation	NOUN
fbem-12572	45	17	deviation	deviation	NOUN
fbem-12572	45	18	will	will	AUX
fbem-12572	45	19	impact	impact	VERB
fbem-12572	45	20	enterprise	enterprise	NOUN
fbem-12572	45	21	financing	financing	NOUN
fbem-12572	45	22	,	,	PUNCT
fbem-12572	45	23	resulting	result	VERB
fbem-12572	45	24	in	in	ADP
fbem-12572	45	25	high	high	ADJ
fbem-12572	45	26	or	or	CCONJ
fbem-12572	45	27	low	low	ADJ
fbem-12572	45	28	financing	financing	NOUN
fbem-12572	45	29	costs	cost	NOUN
fbem-12572	45	30	,	,	PUNCT
fbem-12572	45	31	affecting	affect	VERB
fbem-12572	45	32	the	the	DET
fbem-12572	45	33	enterprise	enterprise	NOUN
fbem-12572	45	34	's	's	PART
fbem-12572	45	35	investment	investment	NOUN
fbem-12572	45	36	scale	scale	NOUN
fbem-12572	45	37	.	.	PUNCT
fbem-12572	46	1	chirinko	chirinko	PROPN
fbem-12572	46	2	and	and	CCONJ
fbem-12572	46	3	schaller	schaller	NOUN
fbem-12572	46	4	in	in	ADP
fbem-12572	46	5	2001	2001	NUM
fbem-12572	46	6	through	through	ADP
fbem-12572	46	7	empirical	empirical	ADJ
fbem-12572	46	8	analyses	analysis	NOUN
fbem-12572	46	9	to	to	PART
fbem-12572	46	10	conclude	conclude	VERB
fbem-12572	46	11	that	that	DET
fbem-12572	46	12	investor	investor	NOUN
fbem-12572	46	13	sentiment	sentiment	NOUN
fbem-12572	46	14	and	and	CCONJ
fbem-12572	46	15	chirinko	chirinko	NOUN
fbem-12572	46	16	and	and	CCONJ
fbem-12572	46	17	schaller	schaller	NOUN
fbem-12572	46	18	concluded	conclude	VERB
fbem-12572	46	19	in	in	ADP
fbem-12572	46	20	2001	2001	NUM
fbem-12572	46	21	through	through	ADP
fbem-12572	46	22	empirical	empirical	ADJ
fbem-12572	46	23	analysis	analysis	NOUN
fbem-12572	46	24	that	that	SCONJ
fbem-12572	46	25	investor	investor	NOUN
fbem-12572	46	26	sentiment	sentiment	NOUN
fbem-12572	46	27	is	be	AUX
fbem-12572	46	28	positively	positively	ADV
fbem-12572	46	29	correlated	correlate	VERB
fbem-12572	46	30	with	with	ADP
fbem-12572	46	31	the	the	DET
fbem-12572	46	32	investment	investment	NOUN
fbem-12572	46	33	scale	scale	NOUN
fbem-12572	46	34	of	of	ADP
fbem-12572	46	35	enterprises	enterprise	NOUN
fbem-12572	46	36	,	,	PUNCT
fbem-12572	46	37	and	and	CCONJ
fbem-12572	46	38	this	this	DET
fbem-12572	46	39	conclusion	conclusion	NOUN
fbem-12572	46	40	was	be	AUX
fbem-12572	46	41	further	far	ADV
fbem-12572	46	42	confirmed	confirm	VERB
fbem-12572	46	43	in	in	ADP
fbem-12572	46	44	2006	2006	NUM
fbem-12572	46	45	under	under	ADP
fbem-12572	46	46	the	the	DET
fbem-12572	46	47	study	study	NOUN
fbem-12572	46	48	of	of	ADP
fbem-12572	46	49	chinese	chinese	ADJ
fbem-12572	46	50	scholars	scholar	NOUN
fbem-12572	46	51	liu	liu	PROPN
fbem-12572	46	52	rui	rui	PROPN
fbem-12572	46	53	and	and	CCONJ
fbem-12572	46	54	chen	chen	PROPN
fbem-12572	46	55	qiu	qiu	PROPN
fbem-12572	46	56	:	:	PUNCT
fbem-12572	46	57	investor	investor	NOUN
fbem-12572	46	58	sentiment	sentiment	NOUN
fbem-12572	46	59	is	be	AUX
fbem-12572	46	60	significantly	significantly	ADV
fbem-12572	46	61	positively	positively	ADV
fbem-12572	46	62	correlated	correlate	VERB
fbem-12572	46	63	with	with	ADP
fbem-12572	46	64	the	the	DET
fbem-12572	46	65	investment	investment	NOUN
fbem-12572	46	66	scale	scale	NOUN
fbem-12572	46	67	of	of	ADP
fbem-12572	46	68	enterprises	enterprise	NOUN
fbem-12572	46	69	,	,	PUNCT
fbem-12572	46	70	and	and	CCONJ
fbem-12572	46	71	the	the	DET
fbem-12572	46	72	study	study	NOUN
fbem-12572	46	73	found	find	VERB
fbem-12572	46	74	that	that	SCONJ
fbem-12572	46	75	investor	investor	NOUN
fbem-12572	46	76	sentiment	sentiment	NOUN
fbem-12572	46	77	has	have	VERB
fbem-12572	46	78	a	a	DET
fbem-12572	46	79	more	more	ADV
fbem-12572	46	80	significant	significant	ADJ
fbem-12572	46	81	impact	impact	NOUN
fbem-12572	46	82	on	on	ADP
fbem-12572	46	83	the	the	DET
fbem-12572	46	84	long	long	ADJ
fbem-12572	46	85	-	-	PUNCT
fbem-12572	46	86	term	term	NOUN
fbem-12572	46	87	investment	investment	NOUN
fbem-12572	46	88	of	of	ADP
fbem-12572	46	89	enterprises	enterprise	NOUN
fbem-12572	46	90	.	.	PUNCT
fbem-12572	47	1	research	research	NOUN
fbem-12572	47	2	on	on	ADP
fbem-12572	47	3	the	the	DET
fbem-12572	47	4	impact	impact	NOUN
fbem-12572	47	5	of	of	ADP
fbem-12572	47	6	corporate	corporate	ADJ
fbem-12572	47	7	investment	investment	NOUN
fbem-12572	47	8	efficiency	efficiency	NOUN
fbem-12572	47	9	is	be	AUX
fbem-12572	47	10	relatively	relatively	ADV
fbem-12572	47	11	scarce	scarce	ADJ
fbem-12572	47	12	.	.	PUNCT
fbem-12572	48	1	polk	polk	NOUN
fbem-12572	48	2	and	and	CCONJ
fbem-12572	48	3	sapienza	sapienza	PROPN
fbem-12572	48	4	2009	2009	NUM
fbem-12572	48	5	concluded	conclude	VERB
fbem-12572	48	6	that	that	SCONJ
fbem-12572	48	7	investor	investor	NOUN
fbem-12572	48	8	sentiment	sentiment	NOUN
fbem-12572	48	9	on	on	ADP
fbem-12572	48	10	corporate	corporate	ADJ
fbem-12572	48	11	investment	investment	NOUN
fbem-12572	48	12	,	,	PUNCT
fbem-12572	48	13	in	in	ADP
fbem-12572	48	14	the	the	DET
fbem-12572	48	15	case	case	NOUN
fbem-12572	48	16	of	of	ADP
fbem-12572	48	17	the	the	DET
fbem-12572	48	18	impact	impact	NOUN
fbem-12572	48	19	of	of	ADP
fbem-12572	48	20	investor	investor	NOUN
fbem-12572	48	21	sentiment	sentiment	NOUN
fbem-12572	48	22	on	on	ADP
fbem-12572	48	23	corporate	corporate	ADJ
fbem-12572	48	24	investment	investment	NOUN
fbem-12572	48	25	,	,	PUNCT
fbem-12572	48	26	is	be	AUX
fbem-12572	48	27	prone	prone	ADJ
fbem-12572	48	28	to	to	ADP
fbem-12572	48	29	overinvestment	overinvestment	ADJ
fbem-12572	48	30	and	and	CCONJ
fbem-12572	48	31	underinvestment	underinvestment	ADJ
fbem-12572	48	32	problems	problem	NOUN
fbem-12572	48	33	.	.	PUNCT
fbem-12572	49	1	these	these	DET
fbem-12572	49	2	problems	problem	NOUN
fbem-12572	49	3	may	may	AUX
fbem-12572	49	4	lead	lead	VERB
fbem-12572	49	5	to	to	ADP
fbem-12572	49	6	a	a	DET
fbem-12572	49	7	decline	decline	NOUN
fbem-12572	49	8	in	in	ADP
fbem-12572	49	9	the	the	DET
fbem-12572	49	10	efficiency	efficiency	NOUN
fbem-12572	49	11	of	of	ADP
fbem-12572	49	12	allocating	allocate	VERB
fbem-12572	49	13	social	social	ADJ
fbem-12572	49	14	resources	resource	NOUN
fbem-12572	49	15	.	.	PUNCT
fbem-12572	50	1	the	the	DET
fbem-12572	50	2	investment	investment	NOUN
fbem-12572	50	3	decisions	decision	NOUN
fbem-12572	50	4	of	of	ADP
fbem-12572	50	5	enterprise	enterprise	NOUN
fbem-12572	50	6	managers	manager	NOUN
fbem-12572	50	7	will	will	AUX
fbem-12572	50	8	be	be	AUX
fbem-12572	50	9	affected	affect	VERB
fbem-12572	50	10	by	by	ADP
fbem-12572	50	11	investor	investor	NOUN
fbem-12572	50	12	sentiment	sentiment	NOUN
fbem-12572	50	13	,	,	PUNCT
fbem-12572	50	14	such	such	ADJ
fbem-12572	50	15	as	as	SCONJ
fbem-12572	50	16	investors	investor	NOUN
fbem-12572	50	17	overestimate	overestimate	VERB
fbem-12572	50	18	the	the	DET
fbem-12572	50	19	enterprise	enterprise	NOUN
fbem-12572	50	20	share	share	NOUN
fbem-12572	50	21	price	price	NOUN
fbem-12572	50	22	and	and	CCONJ
fbem-12572	50	23	tend	tend	VERB
fbem-12572	50	24	to	to	PART
fbem-12572	50	25	sell	sell	VERB
fbem-12572	50	26	shares	share	NOUN
fbem-12572	50	27	.	.	PUNCT
fbem-12572	51	1	then	then	ADV
fbem-12572	51	2	,	,	PUNCT
fbem-12572	51	3	managers	manager	NOUN
fbem-12572	51	4	are	be	AUX
fbem-12572	51	5	likely	likely	ADJ
fbem-12572	51	6	to	to	PART
fbem-12572	51	7	issue	issue	VERB
fbem-12572	51	8	new	new	ADJ
fbem-12572	51	9	shares	share	NOUN
fbem-12572	51	10	.	.	PUNCT
fbem-12572	52	1	suppose	suppose	VERB
fbem-12572	52	2	the	the	DET
fbem-12572	52	3	reverse	reverse	NOUN
fbem-12572	52	4	loses	lose	VERB
fbem-12572	52	5	the	the	DET
fbem-12572	52	6	favor	favor	NOUN
fbem-12572	52	7	of	of	ADP
fbem-12572	52	8	investors	investor	NOUN
fbem-12572	52	9	.	.	PUNCT
fbem-12572	53	1	in	in	ADP
fbem-12572	53	2	that	that	DET
fbem-12572	53	3	case	case	NOUN
fbem-12572	53	4	,	,	PUNCT
fbem-12572	53	5	all	all	DET
fbem-12572	53	6	managers	manager	NOUN
fbem-12572	53	7	have	have	VERB
fbem-12572	53	8	to	to	PART
fbem-12572	53	9	comply	comply	VERB
fbem-12572	53	10	with	with	ADP
fbem-12572	53	11	investor	investor	NOUN
fbem-12572	53	12	sentiment	sentiment	NOUN
fbem-12572	53	13	,	,	PUNCT
fbem-12572	53	14	which	which	PRON
fbem-12572	53	15	subsequently	subsequently	ADV
fbem-12572	53	16	will	will	AUX
fbem-12572	53	17	impact	impact	VERB
fbem-12572	53	18	the	the	DET
fbem-12572	53	19	entire	entire	ADJ
fbem-12572	53	20	enterprise	enterprise	NOUN
fbem-12572	53	21	investment	investment	NOUN
fbem-12572	53	22	,	,	PUNCT
fbem-12572	53	23	so	so	CCONJ
fbem-12572	53	24	the	the	DET
fbem-12572	53	25	enterprise	enterprise	NOUN
fbem-12572	53	26	produces	produce	VERB
fbem-12572	53	27	an	an	DET
fbem-12572	53	28	inefficient	inefficient	ADJ
fbem-12572	53	29	investment	investment	NOUN
fbem-12572	53	30	phenomenon	phenomenon	NOUN
fbem-12572	53	31	.	.	PUNCT
fbem-12572	54	1	2010	2010	NUM
fbem-12572	54	2	china	china	PROPN
fbem-12572	54	3	's	's	PART
fbem-12572	54	4	hua	hua	PROPN
fbem-12572	54	5	guiru	guiru	PROPN
fbem-12572	54	6	and	and	CCONJ
fbem-12572	54	7	,	,	PUNCT
fbem-12572	54	8	liu	liu	PROPN
fbem-12572	54	9	zhiyuan	zhiyuan	PROPN
fbem-12572	54	10	,	,	PUNCT
fbem-12572	54	11	xu	xu	PROPN
fbem-12572	54	12	qian	qian	PROPN
fbem-12572	54	13	scholars	scholar	NOUN
fbem-12572	54	14	suggested	suggest	VERB
fbem-12572	54	15	that	that	SCONJ
fbem-12572	54	16	the	the	DET
fbem-12572	54	17	enterprise	enterprise	NOUN
fbem-12572	54	18	's	's	PART
fbem-12572	54	19	investment	investment	NOUN
fbem-12572	54	20	will	will	AUX
fbem-12572	54	21	be	be	AUX
fbem-12572	54	22	affected	affect	VERB
fbem-12572	54	23	by	by	ADP
fbem-12572	54	24	investor	investor	NOUN
fbem-12572	54	25	sentiment	sentiment	NOUN
fbem-12572	54	26	,	,	PUNCT
fbem-12572	54	27	which	which	PRON
fbem-12572	54	28	may	may	AUX
fbem-12572	54	29	lead	lead	VERB
fbem-12572	54	30	to	to	ADP
fbem-12572	54	31	a	a	DET
fbem-12572	54	32	decline	decline	NOUN
fbem-12572	54	33	in	in	ADP
fbem-12572	54	34	the	the	DET
fbem-12572	54	35	efficiency	efficiency	NOUN
fbem-12572	54	36	of	of	ADP
fbem-12572	54	37	social	social	ADJ
fbem-12572	54	38	resource	resource	NOUN
fbem-12572	54	39	allocation	allocation	NOUN
fbem-12572	54	40	.	.	PUNCT
fbem-12572	55	1	in	in	ADP
fbem-12572	55	2	2010	2010	NUM
fbem-12572	55	3	,	,	PUNCT
fbem-12572	55	4	hua	hua	PROPN
fbem-12572	55	5	guiru	guiru	PROPN
fbem-12572	55	6	,	,	PUNCT
fbem-12572	55	7	liu	liu	PROPN
fbem-12572	55	8	zhiyuan	zhiyuan	PROPN
fbem-12572	55	9	,	,	PUNCT
fbem-12572	55	10	and	and	CCONJ
fbem-12572	55	11	xu	xu	PROPN
fbem-12572	55	12	qian	qian	PROPN
fbem-12572	55	13	proposed	propose	VERB
fbem-12572	55	14	that	that	SCONJ
fbem-12572	55	15	investor	investor	NOUN
fbem-12572	55	16	sentiment	sentiment	NOUN
fbem-12572	55	17	positively	positively	ADV
fbem-12572	55	18	affects	affect	VERB
fbem-12572	55	19	corporate	corporate	ADJ
fbem-12572	55	20	investment	investment	NOUN
fbem-12572	55	21	in	in	ADP
fbem-12572	55	22	the	the	DET
fbem-12572	55	23	short	short	ADJ
fbem-12572	55	24	term	term	NOUN
fbem-12572	55	25	.	.	PUNCT
fbem-12572	56	1	however	however	ADV
fbem-12572	56	2	,	,	PUNCT
fbem-12572	56	3	in	in	ADP
fbem-12572	56	4	the	the	DET
fbem-12572	56	5	long	long	ADJ
fbem-12572	56	6	term	term	NOUN
fbem-12572	56	7	,	,	PUNCT
fbem-12572	56	8	it	it	PRON
fbem-12572	56	9	will	will	AUX
fbem-12572	56	10	weaken	weaken	VERB
fbem-12572	56	11	the	the	DET
fbem-12572	56	12	value	value	NOUN
fbem-12572	56	13	of	of	ADP
fbem-12572	56	14	the	the	DET
fbem-12572	56	15	enterprise	enterprise	NOUN
fbem-12572	56	16	.	.	PUNCT
fbem-12572	57	1	130	130	NUM
fbem-12572	57	2	3	3	NUM
fbem-12572	57	3	.	.	PUNCT
fbem-12572	57	4	research	research	NOUN
fbem-12572	57	5	content	content	NOUN
fbem-12572	57	6	and	and	CCONJ
fbem-12572	57	7	methodology	methodology	NOUN
fbem-12572	57	8	3.1	3.1	NUM
fbem-12572	57	9	.	.	PUNCT
fbem-12572	58	1	content	content	NOUN
fbem-12572	58	2	of	of	ADP
fbem-12572	58	3	the	the	DET
fbem-12572	58	4	study	study	NOUN
fbem-12572	58	5	this	this	DET
fbem-12572	58	6	paper	paper	NOUN
fbem-12572	58	7	combines	combine	VERB
fbem-12572	58	8	theoretical	theoretical	ADJ
fbem-12572	58	9	and	and	CCONJ
fbem-12572	58	10	empirical	empirical	ADJ
fbem-12572	58	11	research	research	NOUN
fbem-12572	58	12	methods	method	NOUN
fbem-12572	58	13	,	,	PUNCT
fbem-12572	58	14	using	use	VERB
fbem-12572	58	15	behavioral	behavioral	ADJ
fbem-12572	58	16	finance	finance	NOUN
fbem-12572	58	17	to	to	PART
fbem-12572	58	18	analyze	analyze	VERB
fbem-12572	58	19	the	the	DET
fbem-12572	58	20	impact	impact	NOUN
fbem-12572	58	21	of	of	ADP
fbem-12572	58	22	investor	investor	NOUN
fbem-12572	58	23	sentiment	sentiment	NOUN
fbem-12572	58	24	on	on	ADP
fbem-12572	58	25	the	the	DET
fbem-12572	58	26	investment	investment	NOUN
fbem-12572	58	27	behavior	behavior	NOUN
fbem-12572	58	28	of	of	ADP
fbem-12572	58	29	listed	list	VERB
fbem-12572	58	30	companies	company	NOUN
fbem-12572	58	31	.	.	PUNCT
fbem-12572	59	1	the	the	DET
fbem-12572	59	2	article	article	NOUN
fbem-12572	59	3	is	be	AUX
fbem-12572	59	4	divided	divide	VERB
fbem-12572	59	5	explicitly	explicitly	ADV
fbem-12572	59	6	into	into	ADP
fbem-12572	59	7	the	the	DET
fbem-12572	59	8	first	first	ADJ
fbem-12572	59	9	part	part	NOUN
fbem-12572	59	10	is	be	AUX
fbem-12572	59	11	the	the	DET
fbem-12572	59	12	introduction	introduction	NOUN
fbem-12572	59	13	,	,	PUNCT
fbem-12572	59	14	which	which	PRON
fbem-12572	59	15	explains	explain	VERB
fbem-12572	59	16	the	the	DET
fbem-12572	59	17	purpose	purpose	NOUN
fbem-12572	59	18	and	and	CCONJ
fbem-12572	59	19	significance	significance	NOUN
fbem-12572	59	20	of	of	ADP
fbem-12572	59	21	the	the	DET
fbem-12572	59	22	study	study	NOUN
fbem-12572	59	23	,	,	PUNCT
fbem-12572	59	24	explaining	explain	VERB
fbem-12572	59	25	the	the	DET
fbem-12572	59	26	importance	importance	NOUN
fbem-12572	59	27	of	of	ADP
fbem-12572	59	28	investor	investor	NOUN
fbem-12572	59	29	sentiment	sentiment	NOUN
fbem-12572	59	30	;	;	PUNCT
fbem-12572	59	31	the	the	DET
fbem-12572	59	32	second	second	ADJ
fbem-12572	59	33	part	part	NOUN
fbem-12572	59	34	is	be	AUX
fbem-12572	59	35	the	the	DET
fbem-12572	59	36	literature	literature	PROPN
fbem-12572	59	37	review	review	NOUN
fbem-12572	59	38	,	,	PUNCT
fbem-12572	59	39	which	which	PRON
fbem-12572	59	40	introduces	introduce	VERB
fbem-12572	59	41	the	the	DET
fbem-12572	59	42	research	research	NOUN
fbem-12572	59	43	and	and	CCONJ
fbem-12572	59	44	analysis	analysis	NOUN
fbem-12572	59	45	of	of	ADP
fbem-12572	59	46	this	this	DET
fbem-12572	59	47	proposition	proposition	NOUN
fbem-12572	59	48	by	by	ADP
fbem-12572	59	49	domestic	domestic	ADJ
fbem-12572	59	50	and	and	CCONJ
fbem-12572	59	51	foreign	foreign	ADJ
fbem-12572	59	52	scholars	scholar	NOUN
fbem-12572	59	53	from	from	ADP
fbem-12572	59	54	the	the	DET
fbem-12572	59	55	ancient	ancient	ADJ
fbem-12572	59	56	times	time	NOUN
fbem-12572	59	57	to	to	ADP
fbem-12572	59	58	the	the	DET
fbem-12572	59	59	present	present	ADJ
fbem-12572	59	60	day	day	NOUN
fbem-12572	59	61	and	and	CCONJ
fbem-12572	59	62	the	the	DET
fbem-12572	59	63	conclusions	conclusion	NOUN
fbem-12572	59	64	obtained	obtain	VERB
fbem-12572	59	65	so	so	SCONJ
fbem-12572	59	66	that	that	SCONJ
fbem-12572	59	67	we	we	PRON
fbem-12572	59	68	can	can	AUX
fbem-12572	59	69	better	well	ADV
fbem-12572	59	70	provide	provide	VERB
fbem-12572	59	71	a	a	DET
fbem-12572	59	72	solid	solid	ADJ
fbem-12572	59	73	foundation	foundation	NOUN
fbem-12572	59	74	for	for	ADP
fbem-12572	59	75	the	the	DET
fbem-12572	59	76	in	in	ADP
fbem-12572	59	77	-	-	PUNCT
fbem-12572	59	78	depth	depth	NOUN
fbem-12572	59	79	analysis	analysis	NOUN
fbem-12572	59	80	;	;	PUNCT
fbem-12572	59	81	the	the	DET
fbem-12572	59	82	third	third	ADJ
fbem-12572	59	83	part	part	NOUN
fbem-12572	59	84	is	be	AUX
fbem-12572	59	85	to	to	PART
fbem-12572	59	86	analyze	analyze	VERB
fbem-12572	59	87	the	the	DET
fbem-12572	59	88	influence	influence	NOUN
fbem-12572	59	89	of	of	ADP
fbem-12572	59	90	investor	investor	NOUN
fbem-12572	59	91	sentiment	sentiment	NOUN
fbem-12572	59	92	on	on	ADP
fbem-12572	59	93	the	the	DET
fbem-12572	59	94	investment	investment	NOUN
fbem-12572	59	95	behavior	behavior	NOUN
fbem-12572	59	96	of	of	ADP
fbem-12572	59	97	listed	list	VERB
fbem-12572	59	98	companies	company	NOUN
fbem-12572	59	99	.	.	PUNCT
fbem-12572	60	1	the	the	DET
fbem-12572	60	2	third	third	ADJ
fbem-12572	60	3	part	part	NOUN
fbem-12572	60	4	is	be	AUX
fbem-12572	60	5	to	to	PART
fbem-12572	60	6	analyze	analyze	VERB
fbem-12572	60	7	the	the	DET
fbem-12572	60	8	impact	impact	NOUN
fbem-12572	60	9	of	of	ADP
fbem-12572	60	10	investor	investor	NOUN
fbem-12572	60	11	sentiment	sentiment	NOUN
fbem-12572	60	12	on	on	ADP
fbem-12572	60	13	the	the	DET
fbem-12572	60	14	investment	investment	NOUN
fbem-12572	60	15	behavior	behavior	NOUN
fbem-12572	60	16	of	of	ADP
fbem-12572	60	17	listed	list	VERB
fbem-12572	60	18	enterprises	enterprise	NOUN
fbem-12572	60	19	,	,	PUNCT
fbem-12572	60	20	put	put	VERB
fbem-12572	60	21	forward	forward	ADP
fbem-12572	60	22	hypotheses	hypothesis	NOUN
fbem-12572	60	23	based	base	VERB
fbem-12572	60	24	on	on	ADP
fbem-12572	60	25	the	the	DET
fbem-12572	60	26	analysis	analysis	NOUN
fbem-12572	60	27	of	of	ADP
fbem-12572	60	28	the	the	DET
fbem-12572	60	29	theoretical	theoretical	ADJ
fbem-12572	60	30	model	model	NOUN
fbem-12572	60	31	,	,	PUNCT
fbem-12572	60	32	and	and	CCONJ
fbem-12572	60	33	then	then	ADV
fbem-12572	60	34	through	through	ADP
fbem-12572	60	35	the	the	DET
fbem-12572	60	36	analysis	analysis	NOUN
fbem-12572	60	37	of	of	ADP
fbem-12572	60	38	china	china	PROPN
fbem-12572	60	39	's	's	PART
fbem-12572	60	40	a	a	DET
fbem-12572	60	41	-	-	PUNCT
fbem-12572	60	42	share	share	NOUN
fbem-12572	60	43	market	market	NOUN
fbem-12572	60	44	enterprise	enterprise	NOUN
fbem-12572	60	45	data	datum	NOUN
fbem-12572	60	46	for	for	ADP
fbem-12572	60	47	empirical	empirical	ADJ
fbem-12572	60	48	research	research	NOUN
fbem-12572	60	49	;	;	PUNCT
fbem-12572	60	50	the	the	DET
fbem-12572	60	51	fourth	fourth	ADJ
fbem-12572	60	52	part	part	NOUN
fbem-12572	60	53	is	be	AUX
fbem-12572	60	54	through	through	ADP
fbem-12572	60	55	the	the	DET
fbem-12572	60	56	empirical	empirical	ADJ
fbem-12572	60	57	results	result	NOUN
fbem-12572	60	58	obtained	obtain	VERB
fbem-12572	60	59	from	from	ADP
fbem-12572	60	60	the	the	DET
fbem-12572	60	61	above	above	ADJ
fbem-12572	60	62	research	research	NOUN
fbem-12572	60	63	,	,	PUNCT
fbem-12572	60	64	and	and	CCONJ
fbem-12572	60	65	then	then	ADV
fbem-12572	60	66	through	through	ADP
fbem-12572	60	67	the	the	DET
fbem-12572	60	68	results	result	NOUN
fbem-12572	60	69	can	can	AUX
fbem-12572	60	70	be	be	AUX
fbem-12572	60	71	derived	derive	VERB
fbem-12572	60	72	from	from	ADP
fbem-12572	60	73	the	the	DET
fbem-12572	60	74	constructive	constructive	ADJ
fbem-12572	60	75	comments	comment	NOUN
fbem-12572	60	76	,	,	PUNCT
fbem-12572	60	77	and	and	CCONJ
fbem-12572	60	78	the	the	DET
fbem-12572	60	79	research	research	NOUN
fbem-12572	60	80	of	of	ADP
fbem-12572	60	81	this	this	DET
fbem-12572	60	82	paper	paper	NOUN
fbem-12572	60	83	has	have	VERB
fbem-12572	60	84	what	what	PRON
fbem-12572	60	85	defects	defect	NOUN
fbem-12572	60	86	,	,	PUNCT
fbem-12572	60	87	the	the	DET
fbem-12572	60	88	future	future	NOUN
fbem-12572	60	89	of	of	ADP
fbem-12572	60	90	the	the	DET
fbem-12572	60	91	proposition	proposition	NOUN
fbem-12572	60	92	of	of	ADP
fbem-12572	60	93	research	research	NOUN
fbem-12572	60	94	space	space	NOUN
fbem-12572	60	95	,	,	PUNCT
fbem-12572	60	96	etc	etc	X
fbem-12572	60	97	.	.	X
fbem-12572	60	98	research	research	NOUN
fbem-12572	60	99	space	space	NOUN
fbem-12572	60	100	for	for	ADP
fbem-12572	60	101	this	this	DET
fbem-12572	60	102	proposition	proposition	NOUN
fbem-12572	60	103	,	,	PUNCT
fbem-12572	60	104	etc	etc	X
fbem-12572	60	105	.	.	X
fbem-12572	60	106	3.2	3.2	NUM
fbem-12572	60	107	.	.	PUNCT
fbem-12572	61	1	research	research	NOUN
fbem-12572	61	2	methodology	methodology	NOUN
fbem-12572	61	3	this	this	DET
fbem-12572	61	4	paper	paper	NOUN
fbem-12572	61	5	uses	use	VERB
fbem-12572	61	6	a	a	DET
fbem-12572	61	7	combination	combination	NOUN
fbem-12572	61	8	of	of	ADP
fbem-12572	61	9	theory	theory	NOUN
fbem-12572	61	10	and	and	CCONJ
fbem-12572	61	11	empirical	empirical	ADJ
fbem-12572	61	12	evidence	evidence	NOUN
fbem-12572	61	13	to	to	PART
fbem-12572	61	14	derive	derive	VERB
fbem-12572	61	15	hypotheses	hypothesis	NOUN
fbem-12572	61	16	through	through	ADP
fbem-12572	61	17	theoretical	theoretical	ADJ
fbem-12572	61	18	analyses	analysis	NOUN
fbem-12572	61	19	and	and	CCONJ
fbem-12572	61	20	then	then	ADV
fbem-12572	61	21	empirical	empirical	ADJ
fbem-12572	61	22	analyses	analysis	NOUN
fbem-12572	61	23	to	to	PART
fbem-12572	61	24	prove	prove	VERB
fbem-12572	61	25	whether	whether	SCONJ
fbem-12572	61	26	the	the	DET
fbem-12572	61	27	hypotheses	hypothesis	NOUN
fbem-12572	61	28	are	be	AUX
fbem-12572	61	29	valid	valid	ADJ
fbem-12572	61	30	or	or	CCONJ
fbem-12572	61	31	not	not	PART
fbem-12572	61	32	.	.	PUNCT
fbem-12572	62	1	3.2.1	3.2.1	X
fbem-12572	62	2	.	.	PUNCT
fbem-12572	63	1	construction	construction	NOUN
fbem-12572	63	2	of	of	ADP
fbem-12572	63	3	the	the	DET
fbem-12572	63	4	theoretical	theoretical	ADJ
fbem-12572	63	5	model	model	NOUN
fbem-12572	63	6	this	this	DET
fbem-12572	63	7	paper	paper	NOUN
fbem-12572	63	8	stands	stand	VERB
fbem-12572	63	9	in	in	ADP
fbem-12572	63	10	the	the	DET
fbem-12572	63	11	perspective	perspective	NOUN
fbem-12572	63	12	of	of	ADP
fbem-12572	63	13	behavioral	behavioral	ADJ
fbem-12572	63	14	finance	finance	NOUN
fbem-12572	63	15	and	and	CCONJ
fbem-12572	63	16	refers	refer	VERB
fbem-12572	63	17	to	to	ADP
fbem-12572	63	18	the	the	DET
fbem-12572	63	19	analytical	analytical	ADJ
fbem-12572	63	20	approach	approach	NOUN
fbem-12572	63	21	of	of	ADP
fbem-12572	63	22	baker	baker	PROPN
fbem-12572	63	23	et	et	PROPN
fbem-12572	63	24	al	al	PROPN
fbem-12572	63	25	.	.	PROPN
fbem-12572	64	1	(	(	PUNCT
fbem-12572	64	2	2006	2006	NUM
fbem-12572	64	3	)	)	PUNCT
fbem-12572	64	4	,	,	PUNCT
fbem-12572	64	5	i.e.	i.e.	X
fbem-12572	64	6	,	,	PUNCT
fbem-12572	64	7	the	the	DET
fbem-12572	64	8	model	model	NOUN
fbem-12572	64	9	is	be	AUX
fbem-12572	64	10	built	build	VERB
fbem-12572	64	11	on	on	ADP
fbem-12572	64	12	the	the	DET
fbem-12572	64	13	premise	premise	NOUN
fbem-12572	64	14	of	of	ADP
fbem-12572	64	15	the	the	DET
fbem-12572	64	16	irrationality	irrationality	NOUN
fbem-12572	64	17	of	of	ADP
fbem-12572	64	18	investors	investor	NOUN
fbem-12572	64	19	and	and	CCONJ
fbem-12572	64	20	rationality	rationality	NOUN
fbem-12572	64	21	of	of	ADP
fbem-12572	64	22	corporate	corporate	ADJ
fbem-12572	64	23	managers	manager	NOUN
fbem-12572	64	24	,	,	PUNCT
fbem-12572	64	25	who	who	PRON
fbem-12572	64	26	based	base	VERB
fbem-12572	64	27	on	on	ADP
fbem-12572	64	28	the	the	DET
fbem-12572	64	29	corporate	corporate	ADJ
fbem-12572	64	30	perspective	perspective	NOUN
fbem-12572	64	31	need	need	VERB
fbem-12572	64	32	to	to	PART
fbem-12572	64	33	consider	consider	VERB
fbem-12572	64	34	the	the	DET
fbem-12572	64	35	maximization	maximization	NOUN
fbem-12572	64	36	of	of	ADP
fbem-12572	64	37	corporate	corporate	ADJ
fbem-12572	64	38	value	value	NOUN
fbem-12572	64	39	,	,	PUNCT
fbem-12572	64	40	the	the	DET
fbem-12572	64	41	maximization	maximization	NOUN
fbem-12572	64	42	of	of	ADP
fbem-12572	64	43	the	the	DET
fbem-12572	64	44	current	current	ADJ
fbem-12572	64	45	share	share	NOUN
fbem-12572	64	46	price	price	NOUN
fbem-12572	64	47	,	,	PUNCT
fbem-12572	64	48	and	and	CCONJ
fbem-12572	64	49	the	the	DET
fbem-12572	64	50	welfare	welfare	NOUN
fbem-12572	64	51	of	of	ADP
fbem-12572	64	52	the	the	DET
fbem-12572	64	53	existing	exist	VERB
fbem-12572	64	54	investors	investor	NOUN
fbem-12572	64	55	to	to	PART
fbem-12572	64	56	carry	carry	VERB
fbem-12572	64	57	out	out	ADP
fbem-12572	64	58	the	the	DET
fbem-12572	64	59	investment	investment	NOUN
fbem-12572	64	60	behaviors	behavior	NOUN
fbem-12572	64	61	.	.	PUNCT
fbem-12572	65	1	there	there	PRON
fbem-12572	65	2	are	be	VERB
fbem-12572	65	3	generally	generally	ADV
fbem-12572	65	4	two	two	NUM
fbem-12572	65	5	methods	method	NOUN
fbem-12572	65	6	for	for	ADP
fbem-12572	65	7	enterprises	enterprise	NOUN
fbem-12572	65	8	to	to	PART
fbem-12572	65	9	raise	raise	VERB
fbem-12572	65	10	funds	fund	NOUN
fbem-12572	65	11	in	in	ADP
fbem-12572	65	12	the	the	DET
fbem-12572	65	13	market	market	NOUN
fbem-12572	65	14	,	,	PUNCT
fbem-12572	65	15	including	include	VERB
fbem-12572	65	16	equity	equity	NOUN
fbem-12572	65	17	financing	financing	NOUN
fbem-12572	65	18	and	and	CCONJ
fbem-12572	65	19	debt	debt	NOUN
fbem-12572	65	20	financing	financing	NOUN
fbem-12572	65	21	,	,	PUNCT
fbem-12572	65	22	and	and	CCONJ
fbem-12572	65	23	let	let	VERB
fbem-12572	65	24	the	the	DET
fbem-12572	65	25	primary	primary	ADJ
fbem-12572	65	26	value	value	NOUN
fbem-12572	65	27	function	function	NOUN
fbem-12572	65	28	of	of	ADP
fbem-12572	65	29	the	the	DET
fbem-12572	65	30	enterprise	enterprise	NOUN
fbem-12572	65	31	be	be	AUX
fbem-12572	65	32	v	v	NOUN
fbem-12572	65	33	=	=	NOUN
fbem-12572	65	34	f(k	f(k	VERB
fbem-12572	65	35	,	,	PUNCT
fbem-12572	65	36	e	e	X
fbem-12572	65	37	)	)	PUNCT
fbem-12572	65	38	the	the	DET
fbem-12572	65	39	function	function	NOUN
fbem-12572	65	40	f	f	X
fbem-12572	65	41	(	(	PUNCT
fbem-12572	65	42	)	)	PUNCT
fbem-12572	65	43	is	be	AUX
fbem-12572	65	44	the	the	DET
fbem-12572	65	45	desired	desire	VERB
fbem-12572	65	46	cash	cash	NOUN
fbem-12572	65	47	flow	flow	NOUN
fbem-12572	65	48	of	of	ADP
fbem-12572	65	49	the	the	DET
fbem-12572	65	50	firm	firm	NOUN
fbem-12572	65	51	in	in	ADP
fbem-12572	65	52	the	the	DET
fbem-12572	65	53	first	first	ADJ
fbem-12572	65	54	accounting	accounting	NOUN
fbem-12572	65	55	period	period	NOUN
fbem-12572	65	56	and	and	CCONJ
fbem-12572	65	57	is	be	AUX
fbem-12572	65	58	an	an	DET
fbem-12572	65	59	increasing	increase	VERB
fbem-12572	65	60	function	function	NOUN
fbem-12572	65	61	,	,	PUNCT
fbem-12572	65	62	k	k	PROPN
fbem-12572	65	63	is	be	AUX
fbem-12572	65	64	the	the	DET
fbem-12572	65	65	new	new	ADJ
fbem-12572	65	66	investment	investment	NOUN
fbem-12572	65	67	of	of	ADP
fbem-12572	65	68	the	the	DET
fbem-12572	65	69	beginning	begin	VERB
fbem-12572	65	70	firm	firm	NOUN
fbem-12572	65	71	,	,	PUNCT
fbem-12572	65	72	and	and	CCONJ
fbem-12572	65	73	e	e	NOUN
fbem-12572	65	74	is	be	AUX
fbem-12572	65	75	the	the	DET
fbem-12572	65	76	amount	amount	NOUN
fbem-12572	65	77	of	of	ADP
fbem-12572	65	78	equity	equity	NOUN
fbem-12572	65	79	financing	financing	NOUN
fbem-12572	65	80	of	of	ADP
fbem-12572	65	81	the	the	DET
fbem-12572	65	82	beginning	begin	VERB
fbem-12572	65	83	firm	firm	NOUN
fbem-12572	65	84	.	.	PUNCT
fbem-12572	66	1	managers	manager	NOUN
fbem-12572	66	2	attempting	attempt	VERB
fbem-12572	66	3	to	to	PART
fbem-12572	66	4	maximize	maximize	VERB
fbem-12572	66	5	valuation	valuation	NOUN
fbem-12572	66	6	also	also	ADV
fbem-12572	66	7	appeal	appeal	VERB
fbem-12572	66	8	to	to	ADP
fbem-12572	66	9	investor	investor	NOUN
fbem-12572	66	10	sentiment	sentiment	NOUN
fbem-12572	66	11	.	.	PUNCT
fbem-12572	67	1	they	they	PRON
fbem-12572	67	2	will	will	AUX
fbem-12572	67	3	invest	invest	VERB
fbem-12572	67	4	in	in	ADP
fbem-12572	67	5	specific	specific	ADJ
fbem-12572	67	6	projects	project	NOUN
fbem-12572	67	7	or	or	CCONJ
fbem-12572	67	8	collapse	collapse	VERB
fbem-12572	67	9	the	the	DET
fbem-12572	67	10	firm	firm	NOUN
fbem-12572	67	11	's	's	PART
fbem-12572	67	12	fundamental	fundamental	ADJ
fbem-12572	67	13	value	value	NOUN
fbem-12572	67	14	,	,	PUNCT
fbem-12572	67	15	resulting	result	VERB
fbem-12572	67	16	in	in	ADP
fbem-12572	67	17	the	the	DET
fbem-12572	67	18	current	current	ADJ
fbem-12572	67	19	share	share	NOUN
fbem-12572	67	20	price	price	NOUN
fbem-12572	67	21	deviating	deviate	VERB
fbem-12572	67	22	from	from	ADP
fbem-12572	67	23	its	its	PRON
fbem-12572	67	24	value	value	NOUN
fbem-12572	67	25	.	.	PUNCT
fbem-12572	68	1	please	please	INTJ
fbem-12572	68	2	assume	assume	VERB
fbem-12572	68	3	that	that	SCONJ
fbem-12572	68	4	the	the	DET
fbem-12572	68	5	current	current	ADJ
fbem-12572	68	6	stock	stock	NOUN
fbem-12572	68	7	price	price	NOUN
fbem-12572	68	8	of	of	ADP
fbem-12572	68	9	a	a	DET
fbem-12572	68	10	firm	firm	NOUN
fbem-12572	68	11	deviates	deviate	VERB
fbem-12572	68	12	from	from	ADP
fbem-12572	68	13	its	its	PRON
fbem-12572	68	14	fundamental	fundamental	ADJ
fbem-12572	68	15	value	value	NOUN
fbem-12572	68	16	(	(	PUNCT
fbem-12572	68	17	intrinsic	intrinsic	ADJ
fbem-12572	68	18	value	value	NOUN
fbem-12572	68	19	)	)	PUNCT
fbem-12572	68	20	by	by	ADP
fbem-12572	68	21	δ(k	δ(k	NOUN
fbem-12572	68	22	,	,	PUNCT
fbem-12572	68	23	e	e	NOUN
fbem-12572	68	24	)	)	PUNCT
fbem-12572	68	25	.	.	PUNCT
fbem-12572	69	1	when	when	SCONJ
fbem-12572	69	2	the	the	DET
fbem-12572	69	3	stock	stock	NOUN
fbem-12572	69	4	is	be	AUX
fbem-12572	69	5	overvalued	overvalue	VERB
fbem-12572	69	6	,	,	PUNCT
fbem-12572	69	7	δ	δ	PROPN
fbem-12572	69	8	>	>	X
fbem-12572	69	9	0	0	NUM
fbem-12572	69	10	;	;	PUNCT
fbem-12572	69	11	when	when	SCONJ
fbem-12572	69	12	the	the	DET
fbem-12572	69	13	stock	stock	NOUN
fbem-12572	69	14	is	be	AUX
fbem-12572	69	15	overvalued	overvalue	VERB
fbem-12572	69	16	,	,	PUNCT
fbem-12572	69	17	δ	δ	PROPN
fbem-12572	69	18	<	<	X
fbem-12572	69	19	0	0	X
fbem-12572	69	20	.	.	PUNCT
fbem-12572	70	1	managers	manager	NOUN
fbem-12572	70	2	also	also	ADV
fbem-12572	70	3	maximize	maximize	VERB
fbem-12572	70	4	shareholders	shareholder	NOUN
fbem-12572	70	5	'	'	PART
fbem-12572	70	6	interests	interest	NOUN
fbem-12572	70	7	,	,	PUNCT
fbem-12572	70	8	eδ(k	eδ(k	NOUN
fbem-12572	70	9	,	,	PUNCT
fbem-12572	70	10	e	e	NOUN
fbem-12572	70	11	)	)	PUNCT
fbem-12572	70	12	,	,	PUNCT
fbem-12572	70	13	as	as	SCONJ
fbem-12572	70	14	managers	manager	NOUN
fbem-12572	70	15	take	take	VERB
fbem-12572	70	16	advantage	advantage	NOUN
fbem-12572	70	17	of	of	ADP
fbem-12572	70	18	market	market	NOUN
fbem-12572	70	19	investors	investor	NOUN
fbem-12572	70	20	'	'	PART
fbem-12572	70	21	misestimation	misestimation	NOUN
fbem-12572	70	22	of	of	ADP
fbem-12572	70	23	the	the	DET
fbem-12572	70	24	firm	firm	NOUN
fbem-12572	70	25	's	's	PART
fbem-12572	70	26	share	share	NOUN
fbem-12572	70	27	price	price	NOUN
fbem-12572	70	28	by	by	ADP
fbem-12572	70	29	issuing	issue	VERB
fbem-12572	70	30	shares	share	NOUN
fbem-12572	70	31	and	and	CCONJ
fbem-12572	70	32	repurchasing	repurchase	VERB
fbem-12572	70	33	shares	share	NOUN
fbem-12572	70	34	to	to	PART
fbem-12572	70	35	increase	increase	VERB
fbem-12572	70	36	existing	exist	VERB
fbem-12572	70	37	shareholders	shareholder	NOUN
fbem-12572	70	38	'	'	PART
fbem-12572	70	39	wealth	wealth	NOUN
fbem-12572	70	40	.	.	PUNCT
fbem-12572	71	1	the	the	DET
fbem-12572	71	2	manager	manager	NOUN
fbem-12572	71	3	issues	issue	VERB
fbem-12572	71	4	new	new	ADJ
fbem-12572	71	5	shares	share	NOUN
fbem-12572	71	6	when	when	SCONJ
fbem-12572	71	7	the	the	DET
fbem-12572	71	8	firm	firm	NOUN
fbem-12572	71	9	's	's	PART
fbem-12572	71	10	stock	stock	NOUN
fbem-12572	71	11	price	price	NOUN
fbem-12572	71	12	is	be	AUX
fbem-12572	71	13	overvalued	overvalue	VERB
fbem-12572	71	14	because	because	SCONJ
fbem-12572	71	15	of	of	ADP
fbem-12572	71	16	the	the	DET
fbem-12572	71	17	low	low	ADJ
fbem-12572	71	18	cost	cost	NOUN
fbem-12572	71	19	of	of	ADP
fbem-12572	71	20	financing	financing	NOUN
fbem-12572	71	21	and	and	CCONJ
fbem-12572	71	22	repurchases	repurchase	VERB
fbem-12572	71	23	shares	share	NOUN
fbem-12572	71	24	when	when	SCONJ
fbem-12572	71	25	the	the	DET
fbem-12572	71	26	stock	stock	NOUN
fbem-12572	71	27	price	price	NOUN
fbem-12572	71	28	is	be	AUX
fbem-12572	71	29	undervalued	undervalue	VERB
fbem-12572	71	30	because	because	SCONJ
fbem-12572	71	31	of	of	ADP
fbem-12572	71	32	the	the	DET
fbem-12572	71	33	relatively	relatively	ADV
fbem-12572	71	34	low	low	ADJ
fbem-12572	71	35	market	market	NOUN
fbem-12572	71	36	price	price	NOUN
fbem-12572	71	37	.	.	PUNCT
fbem-12572	72	1	in	in	ADP
fbem-12572	72	2	addition	addition	NOUN
fbem-12572	72	3	,	,	PUNCT
fbem-12572	72	4	when	when	SCONJ
fbem-12572	72	5	a	a	DET
fbem-12572	72	6	firm	firm	NOUN
fbem-12572	72	7	implements	implement	VERB
fbem-12572	72	8	a	a	DET
fbem-12572	72	9	new	new	ADJ
fbem-12572	72	10	investment	investment	NOUN
fbem-12572	72	11	or	or	CCONJ
fbem-12572	72	12	financing	financing	NOUN
fbem-12572	72	13	decision	decision	NOUN
fbem-12572	72	14	,	,	PUNCT
fbem-12572	72	15	it	it	PRON
fbem-12572	72	16	changes	change	VERB
fbem-12572	72	17	its	its	PRON
fbem-12572	72	18	current	current	ADJ
fbem-12572	72	19	optimal	optimal	ADJ
fbem-12572	72	20	capital	capital	NOUN
fbem-12572	72	21	structure	structure	NOUN
fbem-12572	72	22	.	.	PUNCT
fbem-12572	73	1	it	it	PRON
fbem-12572	73	2	is	be	AUX
fbem-12572	73	3	assumed	assume	VERB
fbem-12572	73	4	to	to	PART
fbem-12572	73	5	finance	finance	VERB
fbem-12572	73	6	the	the	DET
fbem-12572	73	7	new	new	ADJ
fbem-12572	73	8	project	project	NOUN
fbem-12572	73	9	through	through	ADP
fbem-12572	73	10	debt	debt	NOUN
fbem-12572	73	11	financing	financing	NOUN
fbem-12572	73	12	at	at	ADP
fbem-12572	73	13	a	a	DET
fbem-12572	73	14	d	d	NOUN
fbem-12572	73	15	ratio	ratio	NOUN
fbem-12572	73	16	to	to	PART
fbem-12572	73	17	maintain	maintain	VERB
fbem-12572	73	18	the	the	DET
fbem-12572	73	19	optimal	optimal	ADJ
fbem-12572	73	20	capital	capital	NOUN
fbem-12572	73	21	structure	structure	NOUN
fbem-12572	73	22	.	.	PUNCT
fbem-12572	74	1	then	then	ADV
fbem-12572	74	2	(	(	PUNCT
fbem-12572	74	3	1	1	NUM
fbem-12572	74	4	-	-	SYM
fbem-12572	74	5	d	d	NOUN
fbem-12572	74	6	)	)	PUNCT
fbem-12572	74	7	is	be	AUX
fbem-12572	74	8	the	the	DET
fbem-12572	74	9	ratio	ratio	NOUN
fbem-12572	74	10	of	of	ADP
fbem-12572	74	11	equity	equity	NOUN
fbem-12572	74	12	financing	financing	NOUN
fbem-12572	74	13	needed	need	VERB
fbem-12572	74	14	for	for	ADP
fbem-12572	74	15	the	the	DET
fbem-12572	74	16	new	new	ADJ
fbem-12572	74	17	project	project	NOUN
fbem-12572	74	18	,	,	PUNCT
fbem-12572	74	19	and	and	CCONJ
fbem-12572	74	20	assuming	assume	VERB
fbem-12572	74	21	that	that	SCONJ
fbem-12572	74	22	the	the	DET
fbem-12572	74	23	amount	amount	NOUN
fbem-12572	74	24	of	of	ADP
fbem-12572	74	25	cash	cash	NOUN
fbem-12572	74	26	owned	own	VERB
fbem-12572	74	27	by	by	ADP
fbem-12572	74	28	the	the	DET
fbem-12572	74	29	firm	firm	NOUN
fbem-12572	74	30	is	be	AUX
fbem-12572	74	31	c	c	NOUN
fbem-12572	74	32	and	and	CCONJ
fbem-12572	74	33	the	the	DET
fbem-12572	74	34	amount	amount	NOUN
fbem-12572	74	35	of	of	ADP
fbem-12572	74	36	financing	financing	NOUN
fbem-12572	74	37	in	in	ADP
fbem-12572	74	38	the	the	DET
fbem-12572	74	39	stock	stock	NOUN
fbem-12572	74	40	market	market	NOUN
fbem-12572	74	41	is	be	AUX
fbem-12572	74	42	e	e	NOUN
fbem-12572	74	43	,	,	PUNCT
fbem-12572	74	44	then	then	ADV
fbem-12572	74	45	the	the	DET
fbem-12572	74	46	total	total	ADJ
fbem-12572	74	47	amount	amount	NOUN
fbem-12572	74	48	of	of	ADP
fbem-12572	74	49	debt	debt	NOUN
fbem-12572	74	50	financing	financing	NOUN
fbem-12572	74	51	is	be	AUX
fbem-12572	74	52	m	m	NOUN
fbem-12572	74	53	=	=	PROPN
fbem-12572	74	54	k(1	k(1	NOUN
fbem-12572	74	55	-	-	PUNCT
fbem-12572	74	56	d)-c	d)-c	PROPN
fbem-12572	74	57	-	-	PUNCT
fbem-12572	74	58	e.	e.	PROPN
fbem-12572	74	59	when	when	SCONJ
fbem-12572	74	60	m>0	m>0	PROPN
fbem-12572	74	61	,	,	PUNCT
fbem-12572	74	62	the	the	DET
fbem-12572	74	63	firm	firm	NOUN
fbem-12572	74	64	will	will	AUX
fbem-12572	74	65	need	need	VERB
fbem-12572	74	66	more	more	ADJ
fbem-12572	74	67	debt	debt	NOUN
fbem-12572	74	68	financing	financing	NOUN
fbem-12572	74	69	,	,	PUNCT
fbem-12572	74	70	and	and	CCONJ
fbem-12572	74	71	at	at	ADP
fbem-12572	74	72	this	this	DET
fbem-12572	74	73	point	point	NOUN
fbem-12572	74	74	,	,	PUNCT
fbem-12572	74	75	debt	debt	NOUN
fbem-12572	74	76	financing	financing	NOUN
fbem-12572	74	77	will	will	AUX
fbem-12572	74	78	break	break	VERB
fbem-12572	74	79	the	the	DET
fbem-12572	74	80	firm	firm	NOUN
fbem-12572	74	81	's	's	PART
fbem-12572	74	82	optimal	optimal	ADJ
fbem-12572	74	83	capital	capital	NOUN
fbem-12572	74	84	structure	structure	NOUN
fbem-12572	74	85	state	state	NOUN
fbem-12572	74	86	.	.	PUNCT
fbem-12572	75	1	the	the	PRON
fbem-12572	75	2	more	more	ADJ
fbem-12572	75	3	the	the	DET
fbem-12572	75	4	value	value	NOUN
fbem-12572	75	5	of	of	ADP
fbem-12572	75	6	m	m	PROPN
fbem-12572	75	7	increases	increase	NOUN
fbem-12572	75	8	,	,	PUNCT
fbem-12572	75	9	the	the	PRON
fbem-12572	75	10	more	more	ADV
fbem-12572	75	11	the	the	DET
fbem-12572	75	12	enterprise	enterprise	NOUN
fbem-12572	75	13	's	's	PART
fbem-12572	75	14	loss	loss	NOUN
fbem-12572	75	15	;	;	PUNCT
fbem-12572	75	16	m	m	VERB
fbem-12572	75	17	<	<	X
fbem-12572	75	18	0	0	PUNCT
fbem-12572	75	19	when	when	SCONJ
fbem-12572	75	20	the	the	DET
fbem-12572	75	21	enterprise	enterprise	NOUN
fbem-12572	75	22	can	can	AUX
fbem-12572	75	23	raise	raise	VERB
fbem-12572	75	24	funds	fund	NOUN
fbem-12572	75	25	for	for	ADP
fbem-12572	75	26	new	new	ADJ
fbem-12572	75	27	projects	project	NOUN
fbem-12572	75	28	through	through	ADP
fbem-12572	75	29	debt	debt	NOUN
fbem-12572	75	30	financing	financing	NOUN
fbem-12572	75	31	.	.	PUNCT
fbem-12572	76	1	at	at	ADP
fbem-12572	76	2	this	this	DET
fbem-12572	76	3	time	time	NOUN
fbem-12572	76	4	,	,	PUNCT
fbem-12572	76	5	the	the	DET
fbem-12572	76	6	absolute	absolute	ADJ
fbem-12572	76	7	value	value	NOUN
fbem-12572	76	8	of	of	ADP
fbem-12572	76	9	m	m	PROPN
fbem-12572	76	10	,	,	PUNCT
fbem-12572	76	11	the	the	PRON
fbem-12572	76	12	more	more	ADV
fbem-12572	76	13	significant	significant	ADJ
fbem-12572	76	14	the	the	DET
fbem-12572	76	15	enterprise	enterprise	NOUN
fbem-12572	76	16	's	's	PART
fbem-12572	76	17	loss	loss	NOUN
fbem-12572	76	18	is	be	AUX
fbem-12572	76	19	more	more	ADV
fbem-12572	76	20	minor	minor	ADJ
fbem-12572	76	21	.	.	PUNCT
fbem-12572	77	1	combining	combine	VERB
fbem-12572	77	2	these	these	DET
fbem-12572	77	3	three	three	NUM
fbem-12572	77	4	factors	factor	NOUN
fbem-12572	77	5	leads	lead	VERB
fbem-12572	77	6	to	to	ADP
fbem-12572	77	7	the	the	DET
fbem-12572	77	8	expression	expression	NOUN
fbem-12572	77	9	:	:	PUNCT
fbem-12572	78	1	f	f	X
fbem-12572	78	2	=	=	PUNCT
fbem-12572	78	3	θ[f(k	θ[f(k	NOUN
fbem-12572	78	4	,	,	PUNCT
fbem-12572	78	5	e)-k+eδ(k	e)-k+eδ(k	PROPN
fbem-12572	78	6	,	,	PUNCT
fbem-12572	78	7	e)-l(m)]+(1	e)-l(m)]+(1	NOUN
fbem-12572	78	8	-	-	PUNCT
fbem-12572	78	9	θ)δ(k	θ)δ(k	PROPN
fbem-12572	78	10	,	,	PUNCT
fbem-12572	78	11	e	e	NOUN
fbem-12572	78	12	)	)	PUNCT
fbem-12572	78	13	l(m	l(m	PROPN
fbem-12572	78	14	)	)	PUNCT
fbem-12572	78	15	is	be	AUX
fbem-12572	78	16	the	the	DET
fbem-12572	78	17	value	value	NOUN
fbem-12572	78	18	of	of	ADP
fbem-12572	78	19	the	the	DET
fbem-12572	78	20	loss	loss	NOUN
fbem-12572	78	21	of	of	ADP
fbem-12572	78	22	the	the	DET
fbem-12572	78	23	business	business	NOUN
fbem-12572	78	24	θ	θ	PROPN
fbem-12572	78	25	is	be	AUX
fbem-12572	78	26	the	the	DET
fbem-12572	78	27	short	short	ADJ
fbem-12572	78	28	-	-	PUNCT
fbem-12572	78	29	sightedness	sightedness	NOUN
fbem-12572	78	30	of	of	ADP
fbem-12572	78	31	managers	manager	NOUN
fbem-12572	78	32	of	of	ADP
fbem-12572	78	33	listed	list	VERB
fbem-12572	78	34	firms	firm	NOUN
fbem-12572	78	35	,	,	PUNCT
fbem-12572	78	36	θ	θ	PROPN
fbem-12572	78	37	∈	∈	PROPN
fbem-12572	79	1	[	[	X
fbem-12572	79	2	0,1	0,1	NUM
fbem-12572	79	3	]	]	PUNCT
fbem-12572	79	4	,	,	PUNCT
fbem-12572	79	5	θ	θ	PROPN
fbem-12572	79	6	=	=	SYM
fbem-12572	79	7	0	0	NUM
fbem-12572	79	8	indicates	indicate	VERB
fbem-12572	79	9	that	that	SCONJ
fbem-12572	79	10	managers	manager	NOUN
fbem-12572	79	11	only	only	ADV
fbem-12572	79	12	care	care	VERB
fbem-12572	79	13	about	about	ADP
fbem-12572	79	14	stocks	stock	NOUN
fbem-12572	79	15	but	but	CCONJ
fbem-12572	79	16	completely	completely	ADV
fbem-12572	79	17	ignore	ignore	VERB
fbem-12572	79	18	catering	catering	NOUN
fbem-12572	79	19	to	to	ADP
fbem-12572	79	20	investor	investor	NOUN
fbem-12572	79	21	sentiment	sentiment	NOUN
fbem-12572	79	22	for	for	ADP
fbem-12572	79	23	implementing	implement	VERB
fbem-12572	79	24	investment	investment	NOUN
fbem-12572	79	25	behavior	behavior	NOUN
fbem-12572	79	26	,	,	PUNCT
fbem-12572	79	27	and	and	CCONJ
fbem-12572	79	28	θ	θ	X
fbem-12572	79	29	=	=	SYM
fbem-12572	79	30	1	1	NUM
fbem-12572	79	31	indicates	indicate	VERB
fbem-12572	79	32	that	that	SCONJ
fbem-12572	79	33	managers	manager	NOUN
fbem-12572	79	34	only	only	ADV
fbem-12572	79	35	care	care	VERB
fbem-12572	79	36	about	about	ADP
fbem-12572	79	37	the	the	DET
fbem-12572	79	38	long	long	ADJ
fbem-12572	79	39	-	-	PUNCT
fbem-12572	79	40	term	term	NOUN
fbem-12572	79	41	development	development	NOUN
fbem-12572	79	42	of	of	ADP
fbem-12572	79	43	their	their	PRON
fbem-12572	79	44	firms	firm	NOUN
fbem-12572	79	45	and	and	CCONJ
fbem-12572	79	46	ignore	ignore	VERB
fbem-12572	79	47	short	short	ADJ
fbem-12572	79	48	-	-	PUNCT
fbem-12572	79	49	term	term	NOUN
fbem-12572	79	50	interests	interest	NOUN
fbem-12572	79	51	.	.	PUNCT
fbem-12572	80	1	in	in	ADP
fbem-12572	80	2	summary	summary	NOUN
fbem-12572	80	3	,	,	PUNCT
fbem-12572	80	4	the	the	DET
fbem-12572	80	5	value	value	NOUN
fbem-12572	80	6	function	function	NOUN
fbem-12572	80	7	of	of	ADP
fbem-12572	80	8	the	the	DET
fbem-12572	80	9	manager	manager	NOUN
fbem-12572	80	10	maximizing	maximize	VERB
fbem-12572	80	11	the	the	DET
fbem-12572	80	12	firm	firm	NOUN
fbem-12572	80	13	is	be	AUX
fbem-12572	80	14	:	:	PUNCT
fbem-12572	80	15	max	max	PROPN
fbem-12572	80	16	,	,	PUNCT
fbem-12572	80	17	𝜃	𝜃	PROPN
fbem-12572	80	18	𝑓	𝑓	DET
fbem-12572	80	19	𝐾	𝐾	PROPN
fbem-12572	80	20	,	,	PUNCT
fbem-12572	80	21	𝐸	𝐸	PROPN
fbem-12572	80	22	𝐾	𝐾	PROPN
fbem-12572	80	23	𝐸𝛿	𝐸𝛿	PROPN
fbem-12572	80	24	𝐾	𝐾	PROPN
fbem-12572	80	25	,	,	PUNCT
fbem-12572	80	26	𝐸	𝐸	PROPN
fbem-12572	80	27	𝐿	𝐿	PROPN
fbem-12572	80	28	𝑀	𝑀	PROPN
fbem-12572	80	29	1	1	NUM
fbem-12572	80	30	𝜃	𝜃	NUM
fbem-12572	80	31	𝛿	𝛿	PROPN
fbem-12572	80	32	𝐾	𝐾	PROPN
fbem-12572	80	33	,	,	PUNCT
fbem-12572	80	34	𝐸	𝐸	PROPN
fbem-12572	80	35	m	m	NOUN
fbem-12572	80	36	=	=	PROPN
fbem-12572	80	37	k(1	k(1	NOUN
fbem-12572	80	38	-	-	PUNCT
fbem-12572	80	39	d)-c	d)-c	PROPN
fbem-12572	80	40	-	-	PUNCT
fbem-12572	80	41	e	e	NOUN
fbem-12572	80	42	the	the	DET
fbem-12572	80	43	derivation	derivation	NOUN
fbem-12572	80	44	is	be	AUX
fbem-12572	80	45	obtained	obtain	VERB
fbem-12572	80	46	:	:	PUNCT
fbem-12572	80	47	𝑓	𝑓	PRON
fbem-12572	80	48	𝐾	𝐾	PROPN
fbem-12572	80	49	1	1	NUM
fbem-12572	80	50	𝐸	𝐸	PROPN
fbem-12572	80	51	1	1	NUM
fbem-12572	80	52	𝜃	𝜃	NOUN
fbem-12572	80	53	𝜃	𝜃	NOUN
fbem-12572	80	54	𝛿	𝛿	PRON
fbem-12572	80	55	𝐾	𝐾	PROPN
fbem-12572	80	56	1	1	NUM
fbem-12572	80	57	𝑑	𝑑	PROPN
fbem-12572	80	58	𝑓	𝑓	PRON
fbem-12572	80	59	𝐸	𝐸	PROPN
fbem-12572	80	60	𝛿	𝛿	PROPN
fbem-12572	80	61	𝐾	𝐾	PROPN
fbem-12572	80	62	,	,	PUNCT
fbem-12572	80	63	𝐸	𝐸	PROPN
fbem-12572	80	64	𝐸	𝐸	PROPN
fbem-12572	80	65	1	1	NUM
fbem-12572	80	66	𝜃	𝜃	NOUN
fbem-12572	80	67	𝜃	𝜃	NOUN
fbem-12572	80	68	𝛿	𝛿	PROPN
fbem-12572	80	69	𝐸	𝐸	PROPN
fbem-12572	80	70	that	that	PRON
fbem-12572	80	71	is	be	AUX
fbem-12572	80	72	,	,	PUNCT
fbem-12572	80	73	the	the	DET
fbem-12572	80	74	marginal	marginal	ADJ
fbem-12572	80	75	value	value	NOUN
fbem-12572	80	76	of	of	ADP
fbem-12572	80	77	an	an	DET
fbem-12572	80	78	investment	investment	NOUN
fbem-12572	80	79	is	be	AUX
fbem-12572	80	80	equal	equal	ADJ
fbem-12572	80	81	to	to	ADP
fbem-12572	80	82	the	the	DET
fbem-12572	80	83	cost	cost	NOUN
fbem-12572	80	84	of	of	ADP
fbem-12572	80	85	capital	capital	NOUN
fbem-12572	80	86	per	per	ADP
fbem-12572	80	87	unit	unit	NOUN
fbem-12572	80	88	of	of	ADP
fbem-12572	80	89	investment	investment	NOUN
fbem-12572	80	90	minus	minus	CCONJ
fbem-12572	80	91	market	market	NOUN
fbem-12572	80	92	timing	timing	NOUN
fbem-12572	80	93	gains	gain	NOUN
fbem-12572	80	94	and	and	CCONJ
fbem-12572	80	95	managerial	managerial	ADJ
fbem-12572	80	96	pandering	pandering	NOUN
fbem-12572	80	97	gains	gain	NOUN
fbem-12572	80	98	due	due	ADJ
fbem-12572	80	99	to	to	ADP
fbem-12572	80	100	market	market	NOUN
fbem-12572	80	101	mispricing	mispricing	NOUN
fbem-12572	80	102	of	of	ADP
fbem-12572	80	103	stocks	stock	NOUN
fbem-12572	80	104	.	.	PUNCT
fbem-12572	81	1	3.2.2	3.2.2	NUM
fbem-12572	81	2	.	.	PUNCT
fbem-12572	82	1	formulation	formulation	NOUN
fbem-12572	82	2	of	of	ADP
fbem-12572	82	3	hypotheses	hypothesis	NOUN
fbem-12572	82	4	the	the	DET
fbem-12572	82	5	above	above	ADJ
fbem-12572	82	6	analysis	analysis	NOUN
fbem-12572	82	7	allows	allow	VERB
fbem-12572	82	8	for	for	ADP
fbem-12572	82	9	a	a	DET
fbem-12572	82	10	discussion	discussion	NOUN
fbem-12572	82	11	of	of	ADP
fbem-12572	82	12	three	three	NUM
fbem-12572	82	13	scenarios	scenario	NOUN
fbem-12572	82	14	based	base	VERB
fbem-12572	82	15	on	on	ADP
fbem-12572	82	16	capital	capital	NOUN
fbem-12572	82	17	market	market	NOUN
fbem-12572	82	18	effectiveness	effectiveness	NOUN
fbem-12572	82	19	:	:	PUNCT
fbem-12572	82	20	scenario	scenario	NOUN
fbem-12572	82	21	1	1	NUM
fbem-12572	82	22	:	:	PUNCT
fbem-12572	82	23	when	when	SCONJ
fbem-12572	82	24	the	the	DET
fbem-12572	82	25	market	market	NOUN
fbem-12572	82	26	is	be	AUX
fbem-12572	82	27	robust	robust	ADJ
fbem-12572	82	28	and	and	CCONJ
fbem-12572	82	29	efficient	efficient	ADJ
fbem-12572	82	30	,	,	PUNCT
fbem-12572	82	31	all	all	DET
fbem-12572	82	32	investors	investor	NOUN
fbem-12572	82	33	can	can	AUX
fbem-12572	82	34	rationally	rationally	ADV
fbem-12572	82	35	judge	judge	VERB
fbem-12572	82	36	the	the	DET
fbem-12572	82	37	intrinsic	intrinsic	ADJ
fbem-12572	82	38	value	value	NOUN
fbem-12572	82	39	of	of	ADP
fbem-12572	82	40	the	the	DET
fbem-12572	82	41	enterprise	enterprise	NOUN
fbem-12572	82	42	under	under	ADP
fbem-12572	82	43	the	the	DET
fbem-12572	82	44	state	state	NOUN
fbem-12572	82	45	of	of	ADP
fbem-12572	82	46	complete	complete	ADJ
fbem-12572	82	47	symmetry	symmetry	NOUN
fbem-12572	82	48	of	of	ADP
fbem-12572	82	49	information	information	NOUN
fbem-12572	82	50	,	,	PUNCT
fbem-12572	82	51	at	at	ADP
fbem-12572	82	52	this	this	DET
fbem-12572	82	53	time𝑓	time𝑓	NOUN
fbem-12572	82	54	𝐸	𝐸	PROPN
fbem-12572	82	55	𝛿	𝛿	PROPN
fbem-12572	82	56	𝐾	𝐾	PROPN
fbem-12572	82	57	𝐿	𝐿	PROPN
fbem-12572	82	58	𝑀	𝑀	PROPN
fbem-12572	82	59	𝛿	𝛿	PROPN
fbem-12572	82	60	𝐸	𝐸	PROPN
fbem-12572	82	61	0	0	NUM
fbem-12572	82	62	,	,	PUNCT
fbem-12572	82	63	the	the	DET
fbem-12572	82	64	optimal	optimal	ADJ
fbem-12572	82	65	investment	investment	NOUN
fbem-12572	82	66	level	level	NOUN
fbem-12572	82	67	is𝐾	is𝐾	NOUN
fbem-12572	82	68	𝐾	𝐾	PROPN
fbem-12572	82	69	`	`	PUNCT
fbem-12572	82	70	.	.	PUNCT
fbem-12572	83	1	scenario	scenario	NOUN
fbem-12572	83	2	2	2	NUM
fbem-12572	83	3	:	:	PUNCT
fbem-12572	83	4	in	in	ADP
fbem-12572	83	5	reality	reality	NOUN
fbem-12572	83	6	,	,	PUNCT
fbem-12572	83	7	the	the	DET
fbem-12572	83	8	market	market	NOUN
fbem-12572	83	9	can	can	AUX
fbem-12572	83	10	not	not	PART
fbem-12572	83	11	be	be	AUX
fbem-12572	83	12	fully	fully	ADV
fbem-12572	83	13	efficient	efficient	ADJ
fbem-12572	83	14	,	,	PUNCT
fbem-12572	83	15	in	in	ADP
fbem-12572	83	16	which	which	DET
fbem-12572	83	17	case	case	NOUN
fbem-12572	83	18	the	the	DET
fbem-12572	83	19	firm	firm	ADJ
fbem-12572	83	20	issues	issue	VERB
fbem-12572	83	21	shares	share	NOUN
fbem-12572	83	22	and	and	CCONJ
fbem-12572	83	23	the	the	DET
fbem-12572	83	24	managers	manager	NOUN
fbem-12572	83	25	have	have	VERB
fbem-12572	83	26	a	a	DET
fbem-12572	83	27	long	long	ADJ
fbem-12572	83	28	-	-	PUNCT
fbem-12572	83	29	term	term	NOUN
fbem-12572	83	30	vision	vision	NOUN
fbem-12572	83	31	,	,	PUNCT
fbem-12572	83	32	e	e	PROPN
fbem-12572	83	33	≠	≠	PROPN
fbem-12572	83	34	0	0	NUM
fbem-12572	83	35	andθ	andθ	PROPN
fbem-12572	83	36	=	=	SYM
fbem-12572	83	37	1	1	NUM
fbem-12572	83	38	,	,	PUNCT
fbem-12572	83	39	the	the	DET
fbem-12572	83	40	formula	formula	NOUN
fbem-12572	83	41	is	be	AUX
fbem-12572	83	42	:	:	PUNCT
fbem-12572	83	43	𝑓	𝑓	PRON
fbem-12572	83	44	𝐾	𝐾	PROPN
fbem-12572	83	45	1	1	NUM
fbem-12572	83	46	𝐸𝛿	𝐸𝛿	PROPN
fbem-12572	83	47	𝐾	𝐾	PROPN
fbem-12572	83	48	1	1	NUM
fbem-12572	83	49	𝑑	𝑑	PROPN
fbem-12572	83	50	𝑓	𝑓	PRON
fbem-12572	83	51	𝐸	𝐸	PROPN
fbem-12572	83	52	𝛿	𝛿	PROPN
fbem-12572	83	53	𝐾	𝐾	PROPN
fbem-12572	83	54	,	,	PUNCT
fbem-12572	83	55	𝐸	𝐸	PROPN
fbem-12572	83	56	𝐸𝛿	𝐸𝛿	PROPN
fbem-12572	83	57	𝐸	𝐸	PROPN
fbem-12572	83	58	when	when	SCONJ
fbem-12572	83	59	the	the	DET
fbem-12572	83	60	stock	stock	NOUN
fbem-12572	83	61	is	be	AUX
fbem-12572	83	62	overvalued𝑓	overvalued𝑓	NOUN
fbem-12572	83	63	𝐾	𝐾	PROPN
fbem-12572	83	64	1	1	NUM
fbem-12572	83	65	,	,	PUNCT
fbem-12572	83	66	𝐾	𝐾	PROPN
fbem-12572	83	67	𝐾	𝐾	PROPN
fbem-12572	83	68	`	`	PUNCT
fbem-12572	83	69	;	;	PUNCT
fbem-12572	83	70	when	when	SCONJ
fbem-12572	83	71	the	the	DET
fbem-12572	83	72	stock	stock	NOUN
fbem-12572	83	73	is	be	AUX
fbem-12572	83	74	undervalued	undervalue	VERB
fbem-12572	83	75	𝑓	𝑓	DET
fbem-12572	83	76	𝐾	𝐾	PROPN
fbem-12572	83	77	1	1	NUM
fbem-12572	83	78	,	,	PUNCT
fbem-12572	83	79	𝐾	𝐾	PROPN
fbem-12572	83	80	𝐾	𝐾	PROPN
fbem-12572	83	81	`	`	PUNCT
fbem-12572	83	82	.	.	PUNCT
fbem-12572	84	1	on	on	ADP
fbem-12572	84	2	the	the	DET
fbem-12572	84	3	one	one	NUM
fbem-12572	84	4	hand	hand	NOUN
fbem-12572	84	5	,	,	PUNCT
fbem-12572	84	6	when	when	SCONJ
fbem-12572	84	7	the	the	DET
fbem-12572	84	8	stock	stock	NOUN
fbem-12572	84	9	is	be	AUX
fbem-12572	84	10	overvalued	overvalue	VERB
fbem-12572	84	11	when	when	SCONJ
fbem-12572	84	12	investor	investor	NOUN
fbem-12572	84	13	sentiment	sentiment	NOUN
fbem-12572	84	14	is	be	AUX
fbem-12572	84	15	high	high	ADJ
fbem-12572	84	16	,	,	PUNCT
fbem-12572	84	17	investors	investor	NOUN
fbem-12572	84	18	believe	believe	VERB
fbem-12572	84	19	that	that	SCONJ
fbem-12572	84	20	the	the	DET
fbem-12572	84	21	enterprise	enterprise	NOUN
fbem-12572	84	22	has	have	VERB
fbem-12572	84	23	a	a	DET
fbem-12572	84	24	better	well	ADJ
fbem-12572	84	25	development	development	NOUN
fbem-12572	84	26	trend	trend	NOUN
fbem-12572	84	27	,	,	PUNCT
fbem-12572	84	28	and	and	CCONJ
fbem-12572	84	29	the	the	DET
fbem-12572	84	30	demand	demand	NOUN
fbem-12572	84	31	for	for	ADP
fbem-12572	84	32	stocks	stock	NOUN
fbem-12572	84	33	increases	increase	NOUN
fbem-12572	84	34	.	.	PUNCT
fbem-12572	85	1	at	at	ADP
fbem-12572	85	2	131	131	NUM
fbem-12572	85	3	this	this	DET
fbem-12572	85	4	time	time	NOUN
fbem-12572	85	5	,	,	PUNCT
fbem-12572	85	6	it	it	PRON
fbem-12572	85	7	is	be	AUX
fbem-12572	85	8	easier	easy	ADJ
fbem-12572	85	9	for	for	SCONJ
fbem-12572	85	10	enterprises	enterprise	NOUN
fbem-12572	85	11	to	to	PART
fbem-12572	85	12	raise	raise	VERB
fbem-12572	85	13	funds	fund	NOUN
fbem-12572	85	14	,	,	PUNCT
fbem-12572	85	15	and	and	CCONJ
fbem-12572	85	16	at	at	ADP
fbem-12572	85	17	the	the	DET
fbem-12572	85	18	same	same	ADJ
fbem-12572	85	19	time	time	NOUN
fbem-12572	85	20	,	,	PUNCT
fbem-12572	85	21	the	the	DET
fbem-12572	85	22	cost	cost	NOUN
fbem-12572	85	23	of	of	ADP
fbem-12572	85	24	equity	equity	NOUN
fbem-12572	85	25	financing	financing	NOUN
fbem-12572	85	26	is	be	AUX
fbem-12572	85	27	lower	low	ADJ
fbem-12572	85	28	.	.	PUNCT
fbem-12572	86	1	enterprise	enterprise	NOUN
fbem-12572	86	2	managers	manager	NOUN
fbem-12572	86	3	may	may	AUX
fbem-12572	86	4	obtain	obtain	VERB
fbem-12572	86	5	more	more	ADJ
fbem-12572	86	6	funds	fund	NOUN
fbem-12572	86	7	,	,	PUNCT
fbem-12572	86	8	so	so	CCONJ
fbem-12572	86	9	the	the	DET
fbem-12572	86	10	scale	scale	NOUN
fbem-12572	86	11	of	of	ADP
fbem-12572	86	12	investment	investment	NOUN
fbem-12572	86	13	will	will	AUX
fbem-12572	86	14	be	be	AUX
fbem-12572	86	15	increased	increase	VERB
fbem-12572	86	16	,	,	PUNCT
fbem-12572	86	17	or	or	CCONJ
fbem-12572	86	18	they	they	PRON
fbem-12572	86	19	may	may	AUX
fbem-12572	86	20	reduce	reduce	VERB
fbem-12572	86	21	the	the	DET
fbem-12572	86	22	equity	equity	NOUN
fbem-12572	86	23	financing	financing	NOUN
fbem-12572	86	24	to	to	PART
fbem-12572	86	25	maximize	maximize	VERB
fbem-12572	86	26	the	the	DET
fbem-12572	86	27	company	company	NOUN
fbem-12572	86	28	's	's	PART
fbem-12572	86	29	value	value	NOUN
fbem-12572	86	30	.	.	PUNCT
fbem-12572	87	1	on	on	ADP
fbem-12572	87	2	the	the	DET
fbem-12572	87	3	other	other	ADJ
fbem-12572	87	4	hand	hand	NOUN
fbem-12572	87	5	,	,	PUNCT
fbem-12572	87	6	when	when	SCONJ
fbem-12572	87	7	the	the	DET
fbem-12572	87	8	stock	stock	NOUN
fbem-12572	87	9	price	price	NOUN
fbem-12572	87	10	is	be	AUX
fbem-12572	87	11	overvalued	overvalue	VERB
fbem-12572	87	12	when	when	SCONJ
fbem-12572	87	13	the	the	DET
fbem-12572	87	14	cost	cost	NOUN
fbem-12572	87	15	of	of	ADP
fbem-12572	87	16	financing	financing	NOUN
fbem-12572	87	17	is	be	AUX
fbem-12572	87	18	lower	low	ADJ
fbem-12572	87	19	,	,	PUNCT
fbem-12572	87	20	the	the	DET
fbem-12572	87	21	enterprise	enterprise	NOUN
fbem-12572	87	22	's	's	PART
fbem-12572	87	23	investment	investment	NOUN
fbem-12572	87	24	projects	project	NOUN
fbem-12572	87	25	may	may	AUX
fbem-12572	87	26	also	also	ADV
fbem-12572	87	27	change	change	VERB
fbem-12572	87	28	from	from	ADP
fbem-12572	87	29	npv<=0	npv<=0	NOUN
fbem-12572	87	30	to	to	ADP
fbem-12572	87	31	npv>0	npv>0	PROPN
fbem-12572	87	32	.	.	PUNCT
fbem-12572	88	1	however	however	ADV
fbem-12572	88	2	,	,	PUNCT
fbem-12572	88	3	at	at	ADP
fbem-12572	88	4	the	the	DET
fbem-12572	88	5	same	same	ADJ
fbem-12572	88	6	time	time	NOUN
fbem-12572	88	7	,	,	PUNCT
fbem-12572	88	8	there	there	PRON
fbem-12572	88	9	may	may	AUX
fbem-12572	88	10	be	be	AUX
fbem-12572	88	11	the	the	DET
fbem-12572	88	12	risk	risk	NOUN
fbem-12572	88	13	of	of	ADP
fbem-12572	88	14	overinvestment	overinvestment	ADJ
fbem-12572	88	15	and	and	CCONJ
fbem-12572	88	16	underinvestment	underinvestment	NOUN
fbem-12572	88	17	.	.	PUNCT
fbem-12572	89	1	scenario	scenario	NOUN
fbem-12572	89	2	3	3	NUM
fbem-12572	89	3	:	:	PUNCT
fbem-12572	89	4	when	when	SCONJ
fbem-12572	89	5	firms	firm	NOUN
fbem-12572	89	6	do	do	AUX
fbem-12572	89	7	not	not	PART
fbem-12572	89	8	issue	issue	VERB
fbem-12572	89	9	shares	share	NOUN
fbem-12572	89	10	in	in	ADP
fbem-12572	89	11	an	an	DET
fbem-12572	89	12	imperfectly	imperfectly	ADV
fbem-12572	89	13	efficient	efficient	ADJ
fbem-12572	89	14	market	market	NOUN
fbem-12572	89	15	and	and	CCONJ
fbem-12572	89	16	managers	manager	NOUN
fbem-12572	89	17	have	have	VERB
fbem-12572	89	18	a	a	DET
fbem-12572	89	19	long	long	ADJ
fbem-12572	89	20	-	-	PUNCT
fbem-12572	89	21	term	term	NOUN
fbem-12572	89	22	perspective	perspective	NOUN
fbem-12572	89	23	,	,	PUNCT
fbem-12572	89	24	e	e	X
fbem-12572	89	25	=	=	SYM
fbem-12572	89	26	0	0	NUM
fbem-12572	89	27	and	and	CCONJ
fbem-12572	89	28	θ=1	θ=1	NOUN
fbem-12572	89	29	,	,	PUNCT
fbem-12572	89	30	eq	eq	ADP
fbem-12572	89	31	:	:	PUNCT
fbem-12572	89	32	𝑓	𝑓	PROPN
fbem-12572	89	33	𝐾	𝐾	PROPN
fbem-12572	89	34	1	1	NUM
fbem-12572	89	35	at	at	ADP
fbem-12572	89	36	this	this	DET
fbem-12572	89	37	point	point	NOUN
fbem-12572	89	38	,	,	PUNCT
fbem-12572	89	39	managers	manager	NOUN
fbem-12572	89	40	do	do	AUX
fbem-12572	89	41	not	not	PART
fbem-12572	89	42	pander	pander	VERB
fbem-12572	89	43	to	to	ADP
fbem-12572	89	44	investor	investor	NOUN
fbem-12572	89	45	sentiment	sentiment	NOUN
fbem-12572	89	46	,	,	PUNCT
fbem-12572	89	47	so	so	ADV
fbem-12572	89	48	corporate	corporate	ADJ
fbem-12572	89	49	investments	investment	NOUN
fbem-12572	89	50	are	be	AUX
fbem-12572	89	51	not	not	PART
fbem-12572	89	52	influenced	influence	VERB
fbem-12572	89	53	by	by	ADP
fbem-12572	89	54	investor	investor	NOUN
fbem-12572	89	55	sentiment	sentiment	NOUN
fbem-12572	89	56	.	.	PUNCT
fbem-12572	90	1	scenario	scenario	NOUN
fbem-12572	90	2	4	4	NUM
fbem-12572	90	3	:	:	PUNCT
fbem-12572	90	4	when	when	SCONJ
fbem-12572	90	5	firms	firm	NOUN
fbem-12572	90	6	issue	issue	VERB
fbem-12572	90	7	shares	share	NOUN
fbem-12572	90	8	in	in	ADP
fbem-12572	90	9	an	an	DET
fbem-12572	90	10	imperfectly	imperfectly	ADV
fbem-12572	90	11	efficient	efficient	ADJ
fbem-12572	90	12	market	market	NOUN
fbem-12572	90	13	and	and	CCONJ
fbem-12572	90	14	managers	manager	NOUN
fbem-12572	90	15	are	be	AUX
fbem-12572	90	16	short	short	ADV
fbem-12572	90	17	-	-	PUNCT
fbem-12572	90	18	sighted	sighted	ADJ
fbem-12572	90	19	,	,	PUNCT
fbem-12572	90	20	e	e	PROPN
fbem-12572	90	21	≠	≠	PROPN
fbem-12572	90	22	0	0	NUM
fbem-12572	90	23	and0	and0	VERB
fbem-12572	90	24	≤	≤	NUM
fbem-12572	90	25	θ	θ	PROPN
fbem-12572	90	26	<	<	X
fbem-12572	90	27	1	1	NUM
fbem-12572	90	28	,	,	PUNCT
fbem-12572	90	29	which	which	PRON
fbem-12572	90	30	is	be	AUX
fbem-12572	90	31	then	then	ADV
fbem-12572	90	32	satisfied	satisfied	ADJ
fbem-12572	90	33	:	:	PUNCT
fbem-12572	90	34	𝑓	𝑓	DET
fbem-12572	90	35	𝐸	𝐸	ADJ
fbem-12572	90	36	𝛿	𝛿	PROPN
fbem-12572	90	37	𝐾	𝐾	PROPN
fbem-12572	90	38	𝐿	𝐿	PROPN
fbem-12572	90	39	𝑀	𝑀	PROPN
fbem-12572	90	40	𝛿	𝛿	PROPN
fbem-12572	90	41	𝐸	𝐸	PROPN
fbem-12572	90	42	0	0	NUM
fbem-12572	90	43	at	at	ADP
fbem-12572	90	44	this	this	DET
fbem-12572	90	45	time	time	NOUN
fbem-12572	90	46	,	,	PUNCT
fbem-12572	90	47	investor	investor	NOUN
fbem-12572	90	48	sentiment	sentiment	NOUN
fbem-12572	90	49	can	can	AUX
fbem-12572	90	50	affect	affect	VERB
fbem-12572	90	51	corporate	corporate	ADJ
fbem-12572	90	52	investment	investment	NOUN
fbem-12572	90	53	strategies	strategy	NOUN
fbem-12572	90	54	.	.	PUNCT
fbem-12572	91	1	scenario	scenario	NOUN
fbem-12572	91	2	5	5	NUM
fbem-12572	91	3	:	:	PUNCT
fbem-12572	91	4	when	when	SCONJ
fbem-12572	91	5	firms	firm	NOUN
fbem-12572	91	6	in	in	ADP
fbem-12572	91	7	an	an	DET
fbem-12572	91	8	imperfectly	imperfectly	ADV
fbem-12572	91	9	efficient	efficient	ADJ
fbem-12572	91	10	market	market	NOUN
fbem-12572	91	11	do	do	AUX
fbem-12572	91	12	not	not	PART
fbem-12572	91	13	issue	issue	VERB
fbem-12572	91	14	shares	share	NOUN
fbem-12572	91	15	and	and	CCONJ
fbem-12572	91	16	managers	manager	NOUN
fbem-12572	91	17	are	be	AUX
fbem-12572	91	18	short	short	ADV
fbem-12572	91	19	-	-	PUNCT
fbem-12572	91	20	sighted	sighted	ADJ
fbem-12572	91	21	,	,	PUNCT
fbem-12572	91	22	e	e	NOUN
fbem-12572	91	23	=	=	SYM
fbem-12572	91	24	0	0	NUM
fbem-12572	91	25	and	and	CCONJ
fbem-12572	91	26	0≤	0≤	NUM
fbem-12572	91	27	θ	θ	X
fbem-12572	91	28	<	<	X
fbem-12572	91	29	1	1	NUM
fbem-12572	91	30	,	,	PUNCT
fbem-12572	91	31	eq	eq	NOUN
fbem-12572	91	32	:	:	PUNCT
fbem-12572	92	1	𝑓	𝑓	PROPN
fbem-12572	92	2	𝐾	𝐾	PROPN
fbem-12572	92	3	1	1	NUM
fbem-12572	92	4	𝐸	𝐸	PROPN
fbem-12572	92	5	1	1	NUM
fbem-12572	92	6	𝜃	𝜃	NOUN
fbem-12572	92	7	𝜃	𝜃	NOUN
fbem-12572	92	8	𝛿	𝛿	PRON
fbem-12572	92	9	𝐾	𝐾	PROPN
fbem-12572	92	10	the	the	DET
fbem-12572	92	11	market	market	NOUN
fbem-12572	92	12	's	's	PART
fbem-12572	92	13	non	non	ADJ
fbem-12572	92	14	-	-	ADJ
fbem-12572	92	15	efficient	efficient	ADJ
fbem-12572	92	16	premise	premise	NOUN
fbem-12572	92	17	of	of	ADP
fbem-12572	92	18	investor	investor	NOUN
fbem-12572	92	19	sentiment	sentiment	NOUN
fbem-12572	92	20	will	will	AUX
fbem-12572	92	21	affect	affect	VERB
fbem-12572	92	22	the	the	DET
fbem-12572	92	23	investment	investment	NOUN
fbem-12572	92	24	of	of	ADP
fbem-12572	92	25	listed	list	VERB
fbem-12572	92	26	companies	company	NOUN
fbem-12572	92	27	,	,	PUNCT
fbem-12572	92	28	and	and	CCONJ
fbem-12572	92	29	investor	investor	NOUN
fbem-12572	92	30	sentiment	sentiment	NOUN
fbem-12572	92	31	is	be	AUX
fbem-12572	92	32	high	high	ADJ
fbem-12572	92	33	.	.	PUNCT
fbem-12572	93	1	when	when	SCONJ
fbem-12572	93	2	the	the	DET
fbem-12572	93	3	stock	stock	NOUN
fbem-12572	93	4	price	price	NOUN
fbem-12572	93	5	is	be	AUX
fbem-12572	93	6	overvalued	overvalue	VERB
fbem-12572	93	7	,	,	PUNCT
fbem-12572	93	8	managers	manager	NOUN
fbem-12572	93	9	will	will	AUX
fbem-12572	93	10	cater	cater	VERB
fbem-12572	93	11	to	to	ADP
fbem-12572	93	12	investor	investor	NOUN
fbem-12572	93	13	sentiment	sentiment	NOUN
fbem-12572	93	14	to	to	PART
fbem-12572	93	15	raise	raise	VERB
fbem-12572	93	16	the	the	DET
fbem-12572	93	17	stock	stock	NOUN
fbem-12572	93	18	price	price	NOUN
fbem-12572	93	19	.	.	PUNCT
fbem-12572	94	1	this	this	DET
fbem-12572	94	2	time	time	NOUN
fbem-12572	94	3	,	,	PUNCT
fbem-12572	94	4	the	the	DET
fbem-12572	94	5	enterprise	enterprise	NOUN
fbem-12572	94	6	investment	investment	NOUN
fbem-12572	94	7	scale	scale	NOUN
fbem-12572	94	8	rises	rise	NOUN
fbem-12572	94	9	,	,	PUNCT
fbem-12572	94	10	and	and	CCONJ
fbem-12572	94	11	the	the	DET
fbem-12572	94	12	level	level	NOUN
fbem-12572	94	13	of	of	ADP
fbem-12572	94	14	investment	investment	NOUN
fbem-12572	94	15	is	be	AUX
fbem-12572	94	16	too	too	ADV
fbem-12572	94	17	high	high	ADJ
fbem-12572	94	18	;	;	PUNCT
fbem-12572	94	19	on	on	ADP
fbem-12572	94	20	the	the	DET
fbem-12572	94	21	contrary	contrary	NOUN
fbem-12572	94	22	,	,	PUNCT
fbem-12572	94	23	the	the	DET
fbem-12572	94	24	investor	investor	NOUN
fbem-12572	94	25	sentiment	sentiment	NOUN
fbem-12572	94	26	is	be	AUX
fbem-12572	94	27	low	low	ADJ
fbem-12572	94	28	.	.	PUNCT
fbem-12572	95	1	that	that	PRON
fbem-12572	95	2	is	be	AUX
fbem-12572	95	3	,	,	PUNCT
fbem-12572	95	4	when	when	SCONJ
fbem-12572	95	5	the	the	DET
fbem-12572	95	6	stock	stock	NOUN
fbem-12572	95	7	price	price	NOUN
fbem-12572	95	8	is	be	AUX
fbem-12572	95	9	underestimated	underestimate	VERB
fbem-12572	95	10	,	,	PUNCT
fbem-12572	95	11	the	the	DET
fbem-12572	95	12	enterprise	enterprise	NOUN
fbem-12572	95	13	's	's	PART
fbem-12572	95	14	investment	investment	NOUN
fbem-12572	95	15	scale	scale	NOUN
fbem-12572	95	16	declines	decline	NOUN
fbem-12572	95	17	and	and	CCONJ
fbem-12572	95	18	the	the	DET
fbem-12572	95	19	level	level	NOUN
fbem-12572	95	20	of	of	ADP
fbem-12572	95	21	investment	investment	NOUN
fbem-12572	95	22	is	be	AUX
fbem-12572	95	23	too	too	ADV
fbem-12572	95	24	low	low	ADJ
fbem-12572	95	25	.	.	PUNCT
fbem-12572	96	1	through	through	ADP
fbem-12572	96	2	the	the	DET
fbem-12572	96	3	discussion	discussion	NOUN
fbem-12572	96	4	of	of	ADP
fbem-12572	96	5	the	the	DET
fbem-12572	96	6	above	above	ADJ
fbem-12572	96	7	situation	situation	NOUN
fbem-12572	96	8	,	,	PUNCT
fbem-12572	96	9	it	it	PRON
fbem-12572	96	10	can	can	AUX
fbem-12572	96	11	be	be	AUX
fbem-12572	96	12	found	find	VERB
fbem-12572	96	13	that	that	SCONJ
fbem-12572	96	14	when	when	SCONJ
fbem-12572	96	15	the	the	DET
fbem-12572	96	16	enterprise	enterprise	NOUN
fbem-12572	96	17	managers	manager	NOUN
fbem-12572	96	18	are	be	AUX
fbem-12572	96	19	long	long	ADV
fbem-12572	96	20	-	-	PUNCT
fbem-12572	96	21	sighted	sighted	ADJ
fbem-12572	96	22	if	if	SCONJ
fbem-12572	96	23	the	the	DET
fbem-12572	96	24	listed	list	VERB
fbem-12572	96	25	companies	company	NOUN
fbem-12572	96	26	issue	issue	VERB
fbem-12572	96	27	shares	share	NOUN
fbem-12572	96	28	,	,	PUNCT
fbem-12572	96	29	the	the	DET
fbem-12572	96	30	stock	stock	NOUN
fbem-12572	96	31	price	price	NOUN
fbem-12572	96	32	is	be	AUX
fbem-12572	96	33	overvalued	overvalue	VERB
fbem-12572	96	34	when	when	SCONJ
fbem-12572	96	35	the	the	DET
fbem-12572	96	36	issue	issue	NOUN
fbem-12572	96	37	of	of	ADP
fbem-12572	96	38	shares	share	NOUN
fbem-12572	96	39	for	for	ADP
fbem-12572	96	40	financing	financing	NOUN
fbem-12572	96	41	increases	increase	VERB
fbem-12572	96	42	corporate	corporate	ADJ
fbem-12572	96	43	investment	investment	NOUN
fbem-12572	96	44	so	so	SCONJ
fbem-12572	96	45	that	that	SCONJ
fbem-12572	96	46	the	the	DET
fbem-12572	96	47	enterprise	enterprise	NOUN
fbem-12572	96	48	value	value	NOUN
fbem-12572	96	49	to	to	PART
fbem-12572	96	50	maximize	maximize	VERB
fbem-12572	96	51	the	the	DET
fbem-12572	96	52	contrary	contrary	NOUN
fbem-12572	96	53	will	will	AUX
fbem-12572	96	54	be	be	AUX
fbem-12572	96	55	in	in	ADP
fbem-12572	96	56	the	the	DET
fbem-12572	96	57	stock	stock	NOUN
fbem-12572	96	58	price	price	NOUN
fbem-12572	96	59	is	be	AUX
fbem-12572	96	60	undervalued	undervalue	VERB
fbem-12572	96	61	when	when	SCONJ
fbem-12572	96	62	the	the	DET
fbem-12572	96	63	abandonment	abandonment	NOUN
fbem-12572	96	64	of	of	ADP
fbem-12572	96	65	financing	financing	NOUN
fbem-12572	96	66	to	to	PART
fbem-12572	96	67	make	make	VERB
fbem-12572	96	68	the	the	DET
fbem-12572	96	69	enterprise	enterprise	NOUN
fbem-12572	96	70	scale	scale	NOUN
fbem-12572	96	71	decline	decline	NOUN
fbem-12572	96	72	;	;	PUNCT
fbem-12572	96	73	when	when	SCONJ
fbem-12572	96	74	the	the	DET
fbem-12572	96	75	enterprise	enterprise	NOUN
fbem-12572	96	76	managers	manager	NOUN
fbem-12572	96	77	are	be	AUX
fbem-12572	96	78	short	short	ADJ
fbem-12572	96	79	-	-	PUNCT
fbem-12572	96	80	sighted	sighted	ADJ
fbem-12572	96	81	if	if	SCONJ
fbem-12572	96	82	the	the	DET
fbem-12572	96	83	listed	list	VERB
fbem-12572	96	84	companies	company	NOUN
fbem-12572	96	85	do	do	AUX
fbem-12572	96	86	not	not	PART
fbem-12572	96	87	issue	issue	VERB
fbem-12572	96	88	shares	share	NOUN
fbem-12572	96	89	,	,	PUNCT
fbem-12572	96	90	it	it	PRON
fbem-12572	96	91	will	will	AUX
fbem-12572	96	92	cater	cater	VERB
fbem-12572	96	93	to	to	ADP
fbem-12572	96	94	the	the	DET
fbem-12572	96	95	investor	investor	NOUN
fbem-12572	96	96	sentiment	sentiment	NOUN
fbem-12572	96	97	and	and	CCONJ
fbem-12572	96	98	will	will	AUX
fbem-12572	96	99	invest	invest	VERB
fbem-12572	96	100	in	in	ADP
fbem-12572	96	101	specific	specific	ADJ
fbem-12572	96	102	projects	project	NOUN
fbem-12572	96	103	to	to	PART
fbem-12572	96	104	obtain	obtain	VERB
fbem-12572	96	105	income	income	NOUN
fbem-12572	96	106	when	when	SCONJ
fbem-12572	96	107	the	the	DET
fbem-12572	96	108	stock	stock	NOUN
fbem-12572	96	109	price	price	NOUN
fbem-12572	96	110	is	be	AUX
fbem-12572	96	111	overvalued	overvalue	VERB
fbem-12572	96	112	to	to	PART
fbem-12572	96	113	invest	invest	VERB
fbem-12572	96	114	in	in	ADP
fbem-12572	96	115	specific	specific	ADJ
fbem-12572	96	116	projects	project	NOUN
fbem-12572	96	117	to	to	PART
fbem-12572	96	118	obtain	obtain	VERB
fbem-12572	96	119	income	income	NOUN
fbem-12572	96	120	.	.	PUNCT
fbem-12572	97	1	on	on	ADP
fbem-12572	97	2	the	the	DET
fbem-12572	97	3	contrary	contrary	NOUN
fbem-12572	97	4	,	,	PUNCT
fbem-12572	97	5	when	when	SCONJ
fbem-12572	97	6	the	the	DET
fbem-12572	97	7	stock	stock	NOUN
fbem-12572	97	8	price	price	NOUN
fbem-12572	97	9	is	be	AUX
fbem-12572	97	10	undervalued	undervalue	VERB
fbem-12572	97	11	will	will	AUX
fbem-12572	97	12	give	give	VERB
fbem-12572	97	13	up	up	ADP
fbem-12572	97	14	some	some	DET
fbem-12572	97	15	investment	investment	NOUN
fbem-12572	97	16	projects	project	NOUN
fbem-12572	97	17	,	,	PUNCT
fbem-12572	97	18	and	and	CCONJ
fbem-12572	97	19	the	the	DET
fbem-12572	97	20	enterprise	enterprise	NOUN
fbem-12572	97	21	investment	investment	NOUN
fbem-12572	97	22	level	level	NOUN
fbem-12572	97	23	will	will	AUX
fbem-12572	97	24	decline	decline	VERB
fbem-12572	97	25	.	.	PUNCT
fbem-12572	98	1	in	in	ADP
fbem-12572	98	2	summary	summary	NOUN
fbem-12572	98	3	,	,	PUNCT
fbem-12572	98	4	the	the	DET
fbem-12572	98	5	assumptions	assumption	NOUN
fbem-12572	98	6	can	can	AUX
fbem-12572	98	7	be	be	AUX
fbem-12572	98	8	made	make	VERB
fbem-12572	98	9	:	:	PUNCT
fbem-12572	98	10	investor	investor	NOUN
fbem-12572	98	11	sentiment	sentiment	NOUN
fbem-12572	98	12	is	be	AUX
fbem-12572	98	13	positively	positively	ADV
fbem-12572	98	14	related	relate	VERB
fbem-12572	98	15	to	to	ADP
fbem-12572	98	16	the	the	DET
fbem-12572	98	17	size	size	NOUN
fbem-12572	98	18	of	of	ADP
fbem-12572	98	19	investment	investment	NOUN
fbem-12572	98	20	in	in	ADP
fbem-12572	98	21	listed	list	VERB
fbem-12572	98	22	firms	firm	NOUN
fbem-12572	98	23	.	.	PUNCT
fbem-12572	99	1	3.3	3.3	NUM
fbem-12572	99	2	.	.	PUNCT
fbem-12572	100	1	empirical	empirical	ADJ
fbem-12572	100	2	modelling	model	VERB
fbem-12572	100	3	3.3.1	3.3.1	NUM
fbem-12572	100	4	.	.	PUNCT
fbem-12572	101	1	data	datum	NOUN
fbem-12572	101	2	collection	collection	NOUN
fbem-12572	101	3	the	the	DET
fbem-12572	101	4	above	above	ADJ
fbem-12572	101	5	hypothetical	hypothetical	ADJ
fbem-12572	101	6	reasoning	reasoning	NOUN
fbem-12572	101	7	proves	prove	VERB
fbem-12572	101	8	whether	whether	SCONJ
fbem-12572	101	9	the	the	DET
fbem-12572	101	10	hypotheses	hypothesis	NOUN
fbem-12572	101	11	are	be	AUX
fbem-12572	101	12	valid	valid	ADJ
fbem-12572	101	13	or	or	CCONJ
fbem-12572	101	14	not	not	PART
fbem-12572	101	15	through	through	ADP
fbem-12572	101	16	empirical	empirical	ADJ
fbem-12572	101	17	analysis	analysis	NOUN
fbem-12572	101	18	,	,	PUNCT
fbem-12572	101	19	which	which	PRON
fbem-12572	101	20	is	be	AUX
fbem-12572	101	21	selected	select	VERB
fbem-12572	101	22	from	from	ADP
fbem-12572	101	23	the	the	DET
fbem-12572	101	24	data	datum	NOUN
fbem-12572	101	25	of	of	ADP
fbem-12572	101	26	listed	list	VERB
fbem-12572	101	27	enterprises	enterprise	NOUN
fbem-12572	101	28	in	in	ADP
fbem-12572	101	29	china	china	PROPN
fbem-12572	101	30	's	's	PART
fbem-12572	101	31	ashare	ashare	ADJ
fbem-12572	101	32	market	market	NOUN
fbem-12572	101	33	(	(	PUNCT
fbem-12572	101	34	including	include	VERB
fbem-12572	101	35	shanghai	shanghai	PROPN
fbem-12572	101	36	and	and	CCONJ
fbem-12572	101	37	shenzhen	shenzhen	PROPN
fbem-12572	101	38	listed	list	VERB
fbem-12572	101	39	enterprises	enterprise	NOUN
fbem-12572	101	40	)	)	PUNCT
fbem-12572	101	41	from	from	ADP
fbem-12572	101	42	2012	2012	NUM
fbem-12572	101	43	to	to	ADP
fbem-12572	101	44	2022	2022	NUM
fbem-12572	101	45	,	,	PUNCT
fbem-12572	101	46	specifically	specifically	ADV
fbem-12572	101	47	from	from	ADP
fbem-12572	101	48	january	january	PROPN
fbem-12572	101	49	2012	2012	NUM
fbem-12572	101	50	to	to	ADP
fbem-12572	101	51	december	december	PROPN
fbem-12572	101	52	2022	2022	NUM
fbem-12572	101	53	data	datum	NOUN
fbem-12572	101	54	and	and	CCONJ
fbem-12572	101	55	the	the	DET
fbem-12572	101	56	listed	list	VERB
fbem-12572	101	57	enterprises	enterprise	NOUN
fbem-12572	101	58	with	with	ADP
fbem-12572	101	59	abnormal	abnormal	ADJ
fbem-12572	101	60	operation	operation	NOUN
fbem-12572	101	61	status	status	NOUN
fbem-12572	101	62	and	and	CCONJ
fbem-12572	101	63	incomplete	incomplete	ADJ
fbem-12572	101	64	financial	financial	ADJ
fbem-12572	101	65	statement	statement	NOUN
fbem-12572	101	66	data	datum	NOUN
fbem-12572	101	67	are	be	AUX
fbem-12572	101	68	excluded	exclude	VERB
fbem-12572	101	69	.	.	PUNCT
fbem-12572	102	1	the	the	DET
fbem-12572	102	2	data	datum	NOUN
fbem-12572	102	3	are	be	AUX
fbem-12572	102	4	derived	derive	VERB
fbem-12572	102	5	from	from	ADP
fbem-12572	102	6	the	the	DET
fbem-12572	102	7	cathay	cathay	PROPN
fbem-12572	102	8	pacific	pacific	PROPN
fbem-12572	102	9	database	database	NOUN
fbem-12572	102	10	,	,	PUNCT
fbem-12572	102	11	the	the	DET
fbem-12572	102	12	raw	raw	ADJ
fbem-12572	102	13	data	datum	NOUN
fbem-12572	102	14	are	be	AUX
fbem-12572	102	15	processed	process	VERB
fbem-12572	102	16	using	use	VERB
fbem-12572	102	17	excel	excel	NOUN
fbem-12572	102	18	,	,	PUNCT
fbem-12572	102	19	and	and	CCONJ
fbem-12572	102	20	the	the	DET
fbem-12572	102	21	empirical	empirical	ADJ
fbem-12572	102	22	research	research	NOUN
fbem-12572	102	23	is	be	AUX
fbem-12572	102	24	conducted	conduct	VERB
fbem-12572	102	25	using	use	VERB
fbem-12572	102	26	stata	stata	NOUN
fbem-12572	102	27	.	.	PUNCT
fbem-12572	103	1	selection	selection	NOUN
fbem-12572	103	2	of	of	ADP
fbem-12572	103	3	variables	variable	NOUN
fbem-12572	103	4	:	:	PUNCT
fbem-12572	103	5	explained	explain	VERB
fbem-12572	103	6	variables	variable	NOUN
fbem-12572	103	7	:	:	PUNCT
fbem-12572	103	8	capital	capital	NOUN
fbem-12572	103	9	investment	investment	NOUN
fbem-12572	103	10	in	in	ADP
fbem-12572	103	11	the	the	DET
fbem-12572	103	12	enterprise	enterprise	NOUN
fbem-12572	103	13	(	(	PUNCT
fbem-12572	103	14	inv	inv	VERB
fbem-12572	103	15	):	):	PUNCT
fbem-12572	103	16	the	the	DET
fbem-12572	103	17	measurement	measurement	NOUN
fbem-12572	103	18	of	of	ADP
fbem-12572	103	19	investment	investment	NOUN
fbem-12572	103	20	in	in	ADP
fbem-12572	103	21	the	the	DET
fbem-12572	103	22	enterprise	enterprise	NOUN
fbem-12572	103	23	is	be	AUX
fbem-12572	103	24	based	base	VERB
fbem-12572	103	25	on	on	ADP
fbem-12572	103	26	the	the	DET
fbem-12572	103	27	accounts	account	NOUN
fbem-12572	103	28	listed	list	VERB
fbem-12572	103	29	in	in	ADP
fbem-12572	103	30	the	the	DET
fbem-12572	103	31	financial	financial	ADJ
fbem-12572	103	32	statements	statement	NOUN
fbem-12572	103	33	,	,	PUNCT
fbem-12572	103	34	which	which	PRON
fbem-12572	103	35	in	in	ADP
fbem-12572	103	36	this	this	DET
fbem-12572	103	37	paper	paper	NOUN
fbem-12572	103	38	is	be	AUX
fbem-12572	103	39	measured	measure	VERB
fbem-12572	103	40	as	as	ADP
fbem-12572	103	41	"	"	PUNCT
fbem-12572	103	42	funds	fund	NOUN
fbem-12572	103	43	paid	pay	VERB
fbem-12572	103	44	for	for	ADP
fbem-12572	103	45	fixed	fix	VERB
fbem-12572	103	46	assets	asset	NOUN
fbem-12572	103	47	,	,	PUNCT
fbem-12572	103	48	intangible	intangible	ADJ
fbem-12572	103	49	assets	asset	NOUN
fbem-12572	103	50	,	,	PUNCT
fbem-12572	103	51	and	and	CCONJ
fbem-12572	103	52	other	other	ADJ
fbem-12572	103	53	fixed	fix	VERB
fbem-12572	103	54	and	and	CCONJ
fbem-12572	103	55	intangible	intangible	ADJ
fbem-12572	103	56	assets	asset	NOUN
fbem-12572	103	57	/	/	SYM
fbem-12572	103	58	total	total	ADJ
fbem-12572	103	59	assets	asset	NOUN
fbem-12572	103	60	at	at	ADP
fbem-12572	103	61	the	the	DET
fbem-12572	103	62	beginning	beginning	NOUN
fbem-12572	103	63	of	of	ADP
fbem-12572	103	64	the	the	DET
fbem-12572	103	65	period	period	NOUN
fbem-12572	103	66	.	.	PUNCT
fbem-12572	103	67	"	"	PUNCT
fbem-12572	104	1	explanatory	explanatory	ADJ
fbem-12572	104	2	variables	variable	NOUN
fbem-12572	104	3	:	:	PUNCT
fbem-12572	104	4	investor	investor	NOUN
fbem-12572	104	5	sentiment	sentiment	NOUN
fbem-12572	104	6	(	(	PUNCT
fbem-12572	104	7	sent	send	VERB
fbem-12572	104	8	):	):	PUNCT
fbem-12572	104	9	the	the	DET
fbem-12572	104	10	quantification	quantification	NOUN
fbem-12572	104	11	of	of	ADP
fbem-12572	104	12	investor	investor	NOUN
fbem-12572	104	13	sentiment	sentiment	NOUN
fbem-12572	104	14	currently	currently	ADV
fbem-12572	104	15	does	do	AUX
fbem-12572	104	16	not	not	PART
fbem-12572	104	17	have	have	VERB
fbem-12572	104	18	a	a	DET
fbem-12572	104	19	unified	unified	ADJ
fbem-12572	104	20	quantitative	quantitative	ADJ
fbem-12572	104	21	standard	standard	NOUN
fbem-12572	104	22	and	and	CCONJ
fbem-12572	104	23	is	be	AUX
fbem-12572	104	24	difficult	difficult	ADJ
fbem-12572	104	25	to	to	PART
fbem-12572	104	26	calculate	calculate	VERB
fbem-12572	104	27	precisely	precisely	ADV
fbem-12572	104	28	.	.	PUNCT
fbem-12572	105	1	small	small	ADJ
fbem-12572	105	2	and	and	CCONJ
fbem-12572	105	3	medium	medium	ADJ
fbem-12572	105	4	-	-	PUNCT
fbem-12572	105	5	sized	sized	ADJ
fbem-12572	105	6	investors	investor	NOUN
fbem-12572	105	7	mostly	mostly	ADV
fbem-12572	105	8	dominate	dominate	VERB
fbem-12572	105	9	china	china	PROPN
fbem-12572	105	10	's	's	PART
fbem-12572	105	11	capital	capital	NOUN
fbem-12572	105	12	market	market	NOUN
fbem-12572	105	13	.	.	PUNCT
fbem-12572	106	1	investors	investor	NOUN
fbem-12572	106	2	mostly	mostly	ADV
fbem-12572	106	3	use	use	VERB
fbem-12572	106	4	past	past	ADJ
fbem-12572	106	5	stock	stock	NOUN
fbem-12572	106	6	returns	return	NOUN
fbem-12572	106	7	to	to	PART
fbem-12572	106	8	anticipate	anticipate	VERB
fbem-12572	106	9	future	future	ADJ
fbem-12572	106	10	stock	stock	NOUN
fbem-12572	106	11	value	value	NOUN
fbem-12572	106	12	,	,	PUNCT
fbem-12572	106	13	so	so	SCONJ
fbem-12572	106	14	this	this	DET
fbem-12572	106	15	paper	paper	NOUN
fbem-12572	106	16	adopts	adopt	VERB
fbem-12572	106	17	the	the	DET
fbem-12572	106	18	semiannual	semiannual	ADJ
fbem-12572	106	19	momentum	momentum	NOUN
fbem-12572	106	20	effect	effect	NOUN
fbem-12572	106	21	of	of	ADP
fbem-12572	106	22	hua	hua	PROPN
fbem-12572	106	23	guiru	guiru	PROPN
fbem-12572	106	24	,	,	PUNCT
fbem-12572	106	25	liu	liu	PROPN
fbem-12572	106	26	zhiyuan	zhiyuan	PROPN
fbem-12572	106	27	,	,	PUNCT
fbem-12572	106	28	and	and	CCONJ
fbem-12572	106	29	xu	xu	PROPN
fbem-12572	106	30	qian	qian	PROPN
fbem-12572	106	31	(	(	PUNCT
fbem-12572	106	32	2010	2010	NUM
fbem-12572	106	33	)	)	PUNCT
fbem-12572	106	34	,	,	PUNCT
fbem-12572	106	35	i.e.	i.e.	X
fbem-12572	106	36	,	,	PUNCT
fbem-12572	106	37	the	the	DET
fbem-12572	106	38	cumulative	cumulative	ADJ
fbem-12572	106	39	monthly	monthly	ADJ
fbem-12572	106	40	stock	stock	NOUN
fbem-12572	106	41	return	return	NOUN
fbem-12572	106	42	of	of	ADP
fbem-12572	106	43	the	the	DET
fbem-12572	106	44	enterprise	enterprise	NOUN
fbem-12572	106	45	in	in	ADP
fbem-12572	106	46	the	the	DET
fbem-12572	106	47	previous	previous	ADJ
fbem-12572	106	48	six	six	NUM
fbem-12572	106	49	months	month	NOUN
fbem-12572	106	50	.	.	PUNCT
fbem-12572	107	1	control	control	NOUN
fbem-12572	107	2	variables	variable	NOUN
fbem-12572	107	3	:	:	PUNCT
fbem-12572	107	4	growth	growth	NOUN
fbem-12572	107	5	:	:	PUNCT
fbem-12572	107	6	the	the	DET
fbem-12572	107	7	potential	potential	NOUN
fbem-12572	107	8	of	of	ADP
fbem-12572	107	9	a	a	DET
fbem-12572	107	10	business	business	NOUN
fbem-12572	107	11	to	to	PART
fbem-12572	107	12	grow	grow	VERB
fbem-12572	107	13	;	;	PUNCT
fbem-12572	107	14	the	the	DET
fbem-12572	107	15	more	more	ADV
fbem-12572	107	16	potential	potential	NOUN
fbem-12572	107	17	it	it	PRON
fbem-12572	107	18	has	have	VERB
fbem-12572	107	19	,	,	PUNCT
fbem-12572	107	20	the	the	PRON
fbem-12572	107	21	more	more	ADV
fbem-12572	107	22	likely	likely	ADJ
fbem-12572	107	23	it	it	PRON
fbem-12572	107	24	is	be	AUX
fbem-12572	107	25	to	to	PART
fbem-12572	107	26	expand	expand	VERB
fbem-12572	107	27	its	its	PRON
fbem-12572	107	28	investment	investment	NOUN
fbem-12572	107	29	.	.	PUNCT
fbem-12572	108	1	corporate	corporate	ADJ
fbem-12572	108	2	cash	cash	NOUN
fbem-12572	108	3	flow	flow	NOUN
fbem-12572	108	4	(	(	PUNCT
fbem-12572	108	5	cash	cash	NOUN
fbem-12572	108	6	):	):	PUNCT
fbem-12572	108	7	calculated	calculate	VERB
fbem-12572	108	8	as	as	ADP
fbem-12572	108	9	"	"	PUNCT
fbem-12572	108	10	net	net	ADJ
fbem-12572	108	11	cash	cash	NOUN
fbem-12572	108	12	flow	flow	NOUN
fbem-12572	108	13	from	from	ADP
fbem-12572	108	14	operations	operation	NOUN
fbem-12572	108	15	/	/	SYM
fbem-12572	108	16	initial	initial	ADJ
fbem-12572	108	17	total	total	ADJ
fbem-12572	108	18	assets	asset	NOUN
fbem-12572	108	19	.	.	PUNCT
fbem-12572	108	20	"	"	PUNCT
fbem-12572	109	1	corporate	corporate	ADJ
fbem-12572	109	2	cash	cash	NOUN
fbem-12572	109	3	flow	flow	NOUN
fbem-12572	109	4	is	be	AUX
fbem-12572	109	5	included	include	VERB
fbem-12572	109	6	as	as	ADP
fbem-12572	109	7	a	a	DET
fbem-12572	109	8	control	control	NOUN
fbem-12572	109	9	variable	variable	NOUN
fbem-12572	109	10	because	because	SCONJ
fbem-12572	109	11	the	the	DET
fbem-12572	109	12	cash	cash	NOUN
fbem-12572	109	13	flow	flow	NOUN
fbem-12572	109	14	from	from	ADP
fbem-12572	109	15	a	a	DET
fbem-12572	109	16	firm	firm	NOUN
fbem-12572	109	17	's	's	PART
fbem-12572	109	18	operations	operation	NOUN
fbem-12572	109	19	can	can	AUX
fbem-12572	109	20	affect	affect	VERB
fbem-12572	109	21	its	its	PRON
fbem-12572	109	22	investment	investment	NOUN
fbem-12572	109	23	in	in	ADP
fbem-12572	109	24	an	an	DET
fbem-12572	109	25	imperfectly	imperfectly	ADV
fbem-12572	109	26	efficient	efficient	ADJ
fbem-12572	109	27	market	market	NOUN
fbem-12572	109	28	.	.	PUNCT
fbem-12572	110	1	return	return	VERB
fbem-12572	110	2	on	on	ADP
fbem-12572	110	3	assets	asset	NOUN
fbem-12572	110	4	(	(	PUNCT
fbem-12572	110	5	roa	roa	NOUN
fbem-12572	110	6	):	):	PUNCT
fbem-12572	110	7	calculated	calculate	VERB
fbem-12572	110	8	as	as	ADP
fbem-12572	110	9	"	"	PUNCT
fbem-12572	110	10	net	net	ADJ
fbem-12572	110	11	profit	profit	NOUN
fbem-12572	110	12	/	/	SYM
fbem-12572	110	13	average	average	ADJ
fbem-12572	110	14	assets	asset	NOUN
fbem-12572	110	15	,	,	PUNCT
fbem-12572	110	16	"	"	PUNCT
fbem-12572	110	17	a	a	DET
fbem-12572	110	18	higher	high	ADJ
fbem-12572	110	19	roa	roa	NOUN
fbem-12572	110	20	indicates	indicate	VERB
fbem-12572	110	21	a	a	DET
fbem-12572	110	22	higher	high	ADJ
fbem-12572	110	23	profitability	profitability	NOUN
fbem-12572	110	24	of	of	ADP
fbem-12572	110	25	the	the	DET
fbem-12572	110	26	company	company	NOUN
fbem-12572	110	27	,	,	PUNCT
fbem-12572	110	28	which	which	PRON
fbem-12572	110	29	in	in	ADP
fbem-12572	110	30	turn	turn	NOUN
fbem-12572	110	31	influences	influence	VERB
fbem-12572	110	32	the	the	DET
fbem-12572	110	33	size	size	NOUN
fbem-12572	110	34	of	of	ADP
fbem-12572	110	35	the	the	DET
fbem-12572	110	36	investment	investment	NOUN
fbem-12572	110	37	the	the	DET
fbem-12572	110	38	company	company	NOUN
fbem-12572	110	39	may	may	AUX
fbem-12572	110	40	make	make	VERB
fbem-12572	110	41	.	.	PUNCT
fbem-12572	111	1	enterprise	enterprise	NOUN
fbem-12572	111	2	size	size	NOUN
fbem-12572	111	3	:	:	PUNCT
fbem-12572	111	4	calculated	calculate	VERB
fbem-12572	111	5	as	as	ADP
fbem-12572	111	6	"	"	PUNCT
fbem-12572	111	7	the	the	DET
fbem-12572	111	8	natural	natural	ADJ
fbem-12572	111	9	logarithm	logarithm	NOUN
fbem-12572	111	10	of	of	ADP
fbem-12572	111	11	the	the	DET
fbem-12572	111	12	enterprise	enterprise	NOUN
fbem-12572	111	13	's	's	PART
fbem-12572	111	14	total	total	ADJ
fbem-12572	111	15	assets	asset	NOUN
fbem-12572	111	16	at	at	ADP
fbem-12572	111	17	the	the	DET
fbem-12572	111	18	beginning	beginning	NOUN
fbem-12572	111	19	of	of	ADP
fbem-12572	111	20	the	the	DET
fbem-12572	111	21	period	period	NOUN
fbem-12572	111	22	.	.	PUNCT
fbem-12572	111	23	"	"	PUNCT
fbem-12572	112	1	the	the	DET
fbem-12572	112	2	size	size	NOUN
fbem-12572	112	3	of	of	ADP
fbem-12572	112	4	the	the	DET
fbem-12572	112	5	enterprise	enterprise	NOUN
fbem-12572	112	6	responds	respond	VERB
fbem-12572	112	7	to	to	ADP
fbem-12572	112	8	the	the	DET
fbem-12572	112	9	scale	scale	NOUN
fbem-12572	112	10	of	of	ADP
fbem-12572	112	11	business	business	NOUN
fbem-12572	112	12	operations	operation	NOUN
fbem-12572	112	13	and	and	CCONJ
fbem-12572	112	14	capital	capital	NOUN
fbem-12572	112	15	;	;	PUNCT
fbem-12572	112	16	there	there	PRON
fbem-12572	112	17	will	will	AUX
fbem-12572	112	18	be	be	AUX
fbem-12572	112	19	more	more	ADJ
fbem-12572	112	20	funds	fund	NOUN
fbem-12572	112	21	to	to	PART
fbem-12572	112	22	invest	invest	VERB
fbem-12572	112	23	in	in	ADP
fbem-12572	112	24	investment	investment	NOUN
fbem-12572	112	25	,	,	PUNCT
fbem-12572	112	26	but	but	CCONJ
fbem-12572	112	27	at	at	ADP
fbem-12572	112	28	the	the	DET
fbem-12572	112	29	same	same	ADJ
fbem-12572	112	30	time	time	NOUN
fbem-12572	112	31	,	,	PUNCT
fbem-12572	112	32	large	large	ADJ
fbem-12572	112	33	-	-	PUNCT
fbem-12572	112	34	scale	scale	NOUN
fbem-12572	112	35	enterprises	enterprise	NOUN
fbem-12572	112	36	may	may	AUX
fbem-12572	112	37	not	not	PART
fbem-12572	112	38	have	have	VERB
fbem-12572	112	39	the	the	DET
fbem-12572	112	40	incentive	incentive	NOUN
fbem-12572	112	41	to	to	PART
fbem-12572	112	42	expand	expand	VERB
fbem-12572	112	43	,	,	PUNCT
fbem-12572	112	44	so	so	CCONJ
fbem-12572	112	45	the	the	DET
fbem-12572	112	46	level	level	NOUN
fbem-12572	112	47	of	of	ADP
fbem-12572	112	48	investment	investment	NOUN
fbem-12572	112	49	is	be	AUX
fbem-12572	112	50	low	low	ADJ
fbem-12572	112	51	,	,	PUNCT
fbem-12572	112	52	so	so	SCONJ
fbem-12572	112	53	the	the	DET
fbem-12572	112	54	relationship	relationship	NOUN
fbem-12572	112	55	between	between	ADP
fbem-12572	112	56	the	the	DET
fbem-12572	112	57	size	size	NOUN
fbem-12572	112	58	of	of	ADP
fbem-12572	112	59	the	the	DET
fbem-12572	112	60	enterprise	enterprise	NOUN
fbem-12572	112	61	and	and	CCONJ
fbem-12572	112	62	the	the	DET
fbem-12572	112	63	level	level	NOUN
fbem-12572	112	64	of	of	ADP
fbem-12572	112	65	enterprise	enterprise	NOUN
fbem-12572	112	66	investment	investment	NOUN
fbem-12572	112	67	is	be	AUX
fbem-12572	112	68	subject	subject	ADJ
fbem-12572	112	69	to	to	ADP
fbem-12572	112	70	further	further	ADJ
fbem-12572	112	71	debate	debate	NOUN
fbem-12572	112	72	.	.	PUNCT
fbem-12572	113	1	gearing	gear	VERB
fbem-12572	113	2	ratio	ratio	NOUN
fbem-12572	113	3	(	(	PUNCT
fbem-12572	113	4	lev	lev	NOUN
fbem-12572	113	5	):	):	PUNCT
fbem-12572	113	6	calculated	calculate	VERB
fbem-12572	113	7	as	as	ADP
fbem-12572	113	8	"	"	PUNCT
fbem-12572	113	9	corporate	corporate	ADJ
fbem-12572	113	10	liabilities	liability	NOUN
fbem-12572	113	11	/	/	SYM
fbem-12572	113	12	corporate	corporate	ADJ
fbem-12572	113	13	assets	asset	NOUN
fbem-12572	113	14	.	.	PUNCT
fbem-12572	113	15	"	"	PUNCT
fbem-12572	114	1	the	the	PRON
fbem-12572	114	2	higher	high	ADJ
fbem-12572	114	3	the	the	DET
fbem-12572	114	4	debt	debt	NOUN
fbem-12572	114	5	ratio	ratio	NOUN
fbem-12572	114	6	,	,	PUNCT
fbem-12572	114	7	the	the	PRON
fbem-12572	114	8	greater	great	ADJ
fbem-12572	114	9	the	the	DET
fbem-12572	114	10	constraints	constraint	NOUN
fbem-12572	114	11	on	on	ADP
fbem-12572	114	12	investment	investment	NOUN
fbem-12572	114	13	and	and	CCONJ
fbem-12572	114	14	the	the	DET
fbem-12572	114	15	lower	low	ADJ
fbem-12572	114	16	the	the	DET
fbem-12572	114	17	level	level	NOUN
fbem-12572	114	18	of	of	ADP
fbem-12572	114	19	investment	investment	NOUN
fbem-12572	114	20	;	;	PUNCT
fbem-12572	114	21	the	the	PRON
fbem-12572	114	22	lower	low	ADJ
fbem-12572	114	23	the	the	DET
fbem-12572	114	24	debt	debt	NOUN
fbem-12572	114	25	ratio	ratio	NOUN
fbem-12572	114	26	,	,	PUNCT
fbem-12572	114	27	the	the	PRON
fbem-12572	114	28	smaller	small	ADJ
fbem-12572	114	29	the	the	DET
fbem-12572	114	30	constraints	constraint	NOUN
fbem-12572	114	31	on	on	ADP
fbem-12572	114	32	investment	investment	NOUN
fbem-12572	114	33	and	and	CCONJ
fbem-12572	114	34	the	the	PRON
fbem-12572	114	35	higher	high	ADJ
fbem-12572	114	36	the	the	DET
fbem-12572	114	37	level	level	NOUN
fbem-12572	114	38	of	of	ADP
fbem-12572	114	39	investment	investment	NOUN
fbem-12572	114	40	.	.	PUNCT
fbem-12572	115	1	moreover	moreover	ADV
fbem-12572	115	2	,	,	PUNCT
fbem-12572	115	3	the	the	DET
fbem-12572	115	4	external	external	ADJ
fbem-12572	115	5	financing	financing	NOUN
fbem-12572	115	6	cost	cost	NOUN
fbem-12572	115	7	of	of	ADP
fbem-12572	115	8	the	the	DET
fbem-12572	115	9	enterprise	enterprise	NOUN
fbem-12572	115	10	will	will	AUX
fbem-12572	115	11	gradually	gradually	ADV
fbem-12572	115	12	increase	increase	VERB
fbem-12572	115	13	with	with	ADP
fbem-12572	115	14	the	the	DET
fbem-12572	115	15	rise	rise	NOUN
fbem-12572	115	16	of	of	ADP
fbem-12572	115	17	the	the	DET
fbem-12572	115	18	gearing	gear	VERB
fbem-12572	115	19	ratio	ratio	NOUN
fbem-12572	115	20	,	,	PUNCT
fbem-12572	115	21	and	and	CCONJ
fbem-12572	115	22	accordingly	accordingly	ADV
fbem-12572	115	23	,	,	PUNCT
fbem-12572	115	24	the	the	DET
fbem-12572	115	25	discount	discount	NOUN
fbem-12572	115	26	rate	rate	NOUN
fbem-12572	115	27	for	for	ADP
fbem-12572	115	28	evaluating	evaluate	VERB
fbem-12572	115	29	the	the	DET
fbem-12572	115	30	return	return	NOUN
fbem-12572	115	31	of	of	ADP
fbem-12572	115	32	investment	investment	NOUN
fbem-12572	115	33	projects	project	NOUN
fbem-12572	115	34	will	will	AUX
fbem-12572	115	35	increase	increase	VERB
fbem-12572	115	36	,	,	PUNCT
fbem-12572	115	37	the	the	DET
fbem-12572	115	38	number	number	NOUN
fbem-12572	115	39	of	of	ADP
fbem-12572	115	40	investment	investment	NOUN
fbem-12572	115	41	projects	project	NOUN
fbem-12572	115	42	that	that	PRON
fbem-12572	115	43	can	can	AUX
fbem-12572	115	44	be	be	AUX
fbem-12572	115	45	approved	approve	VERB
fbem-12572	115	46	will	will	AUX
fbem-12572	115	47	decrease	decrease	VERB
fbem-12572	115	48	,	,	PUNCT
fbem-12572	115	49	and	and	CCONJ
fbem-12572	115	50	the	the	DET
fbem-12572	115	51	scale	scale	NOUN
fbem-12572	115	52	of	of	ADP
fbem-12572	115	53	investment	investment	NOUN
fbem-12572	115	54	will	will	AUX
fbem-12572	115	55	decline	decline	VERB
fbem-12572	115	56	.	.	PUNCT
fbem-12572	116	1	administrative	administrative	ADJ
fbem-12572	116	2	expenses	expense	NOUN
fbem-12572	116	3	(	(	PUNCT
fbem-12572	116	4	glfy	glfy	NOUN
fbem-12572	116	5	):	):	PUNCT
fbem-12572	116	6	calculated	calculate	VERB
fbem-12572	116	7	as	as	ADP
fbem-12572	116	8	"	"	PUNCT
fbem-12572	116	9	administrative	administrative	ADJ
fbem-12572	116	10	expenses	expense	NOUN
fbem-12572	116	11	/	/	SYM
fbem-12572	116	12	enterprise	enterprise	NOUN
fbem-12572	116	13	main	main	ADJ
fbem-12572	116	14	business	business	NOUN
fbem-12572	116	15	income	income	NOUN
fbem-12572	116	16	.	.	PUNCT
fbem-12572	116	17	"	"	PUNCT
fbem-12572	117	1	the	the	PRON
fbem-12572	117	2	higher	high	ADJ
fbem-12572	117	3	the	the	DET
fbem-12572	117	4	ratio	ratio	NOUN
fbem-12572	117	5	of	of	ADP
fbem-12572	117	6	overheads	overhead	NOUN
fbem-12572	117	7	to	to	ADP
fbem-12572	117	8	primary	primary	ADJ
fbem-12572	117	9	operating	operating	NOUN
fbem-12572	117	10	income	income	NOUN
fbem-12572	117	11	,	,	PUNCT
fbem-12572	117	12	the	the	PRON
fbem-12572	117	13	more	more	ADJ
fbem-12572	117	14	it	it	PRON
fbem-12572	117	15	reflects	reflect	VERB
fbem-12572	117	16	the	the	DET
fbem-12572	117	17	existence	existence	NOUN
fbem-12572	117	18	of	of	ADP
fbem-12572	117	19	management	management	NOUN
fbem-12572	117	20	inefficiency	inefficiency	NOUN
fbem-12572	117	21	and	and	CCONJ
fbem-12572	117	22	expense	expense	NOUN
fbem-12572	117	23	depletion	depletion	NOUN
fbem-12572	117	24	in	in	ADP
fbem-12572	117	25	the	the	DET
fbem-12572	117	26	enterprise	enterprise	NOUN
fbem-12572	117	27	,	,	PUNCT
fbem-12572	117	28	and	and	CCONJ
fbem-12572	117	29	the	the	PRON
fbem-12572	117	30	higher	high	ADJ
fbem-12572	117	31	the	the	DET
fbem-12572	117	32	overheads	overhead	NOUN
fbem-12572	117	33	,	,	PUNCT
fbem-12572	117	34	the	the	PRON
fbem-12572	117	35	greater	great	ADJ
fbem-12572	117	36	the	the	DET
fbem-12572	117	37	investment	investment	NOUN
fbem-12572	117	38	problems	problem	NOUN
fbem-12572	117	39	of	of	ADP
fbem-12572	117	40	the	the	DET
fbem-12572	117	41	enterprise	enterprise	NOUN
fbem-12572	117	42	.	.	PUNCT
fbem-12572	118	1	132	132	NUM
fbem-12572	118	2	a	a	DET
fbem-12572	118	3	summary	summary	NOUN
fbem-12572	118	4	of	of	ADP
fbem-12572	118	5	the	the	DET
fbem-12572	118	6	measures	measure	NOUN
fbem-12572	118	7	of	of	ADP
fbem-12572	118	8	the	the	DET
fbem-12572	118	9	variables	variable	NOUN
fbem-12572	118	10	selected	select	VERB
fbem-12572	118	11	for	for	ADP
fbem-12572	118	12	this	this	DET
fbem-12572	118	13	paper	paper	NOUN
fbem-12572	118	14	is	be	AUX
fbem-12572	118	15	given	give	VERB
fbem-12572	118	16	below	below	ADP
fbem-12572	118	17	:	:	PUNCT
fbem-12572	118	18	table	table	NOUN
fbem-12572	118	19	1	1	NUM
fbem-12572	118	20	.	.	PUNCT
fbem-12572	118	21	calculation	calculation	NOUN
fbem-12572	118	22	of	of	ADP
fbem-12572	118	23	selected	select	VERB
fbem-12572	118	24	variables	variable	NOUN
fbem-12572	118	25	variant	variant	ADJ
fbem-12572	118	26	variable	variable	ADJ
fbem-12572	118	27	label	label	NOUN
fbem-12572	118	28	variable	variable	ADJ
fbem-12572	118	29	calculation	calculation	NOUN
fbem-12572	118	30	method	method	NOUN
fbem-12572	118	31	capital	capital	NOUN
fbem-12572	118	32	investment	investment	NOUN
fbem-12572	118	33	in	in	ADP
fbem-12572	118	34	enterprises	enterprise	NOUN
fbem-12572	118	35	inv	inv	VERB
fbem-12572	118	36	funds	fund	NOUN
fbem-12572	118	37	paid	pay	VERB
fbem-12572	118	38	for	for	ADP
fbem-12572	118	39	fixed	fix	VERB
fbem-12572	118	40	assets	asset	NOUN
fbem-12572	118	41	,	,	PUNCT
fbem-12572	118	42	intangible	intangible	ADJ
fbem-12572	118	43	assets	asset	NOUN
fbem-12572	118	44	,	,	PUNCT
fbem-12572	118	45	and	and	CCONJ
fbem-12572	118	46	other	other	ADJ
fbem-12572	118	47	fixed	fix	VERB
fbem-12572	118	48	and	and	CCONJ
fbem-12572	118	49	intangible	intangible	ADJ
fbem-12572	118	50	assets	asset	NOUN
fbem-12572	118	51	/	/	SYM
fbem-12572	118	52	total	total	ADJ
fbem-12572	118	53	assets	asset	NOUN
fbem-12572	118	54	at	at	ADP
fbem-12572	118	55	the	the	DET
fbem-12572	118	56	beginning	beginning	NOUN
fbem-12572	118	57	of	of	ADP
fbem-12572	118	58	the	the	DET
fbem-12572	118	59	period	period	NOUN
fbem-12572	118	60	investor	investor	NOUN
fbem-12572	118	61	sentiment	sentiment	NOUN
fbem-12572	118	62	sent	send	VERB
fbem-12572	118	63	cumulative	cumulative	ADJ
fbem-12572	118	64	monthly	monthly	ADJ
fbem-12572	118	65	stock	stock	NOUN
fbem-12572	118	66	return	return	NOUN
fbem-12572	118	67	for	for	ADP
fbem-12572	118	68	the	the	DET
fbem-12572	118	69	previous	previous	ADJ
fbem-12572	118	70	six	six	NUM
fbem-12572	118	71	consecutive	consecutive	ADJ
fbem-12572	118	72	months	month	NOUN
fbem-12572	118	73	enterprise	enterprise	NOUN
fbem-12572	118	74	growth	growth	NOUN
fbem-12572	118	75	grow	grow	VERB
fbem-12572	118	76	net	net	ADJ
fbem-12572	118	77	change	change	NOUN
fbem-12572	118	78	in	in	ADP
fbem-12572	118	79	principal	principal	ADJ
fbem-12572	118	80	activities	activity	NOUN
fbem-12572	118	81	/	/	SYM
fbem-12572	118	82	gross	gross	ADJ
fbem-12572	118	83	revenue	revenue	NOUN
fbem-12572	118	84	from	from	ADP
fbem-12572	118	85	principal	principal	ADJ
fbem-12572	118	86	activities	activity	NOUN
fbem-12572	118	87	corporate	corporate	ADJ
fbem-12572	118	88	cash	cash	NOUN
fbem-12572	118	89	flow	flow	NOUN
fbem-12572	118	90	cash	cash	NOUN
fbem-12572	118	91	net	net	ADJ
fbem-12572	118	92	cash	cash	NOUN
fbem-12572	118	93	flows	flow	NOUN
fbem-12572	118	94	from	from	ADP
fbem-12572	118	95	business	business	NOUN
fbem-12572	118	96	operations	operation	NOUN
fbem-12572	118	97	/	/	SYM
fbem-12572	118	98	total	total	ADJ
fbem-12572	118	99	assets	asset	NOUN
fbem-12572	118	100	at	at	ADP
fbem-12572	118	101	the	the	DET
fbem-12572	118	102	beginning	beginning	NOUN
fbem-12572	118	103	of	of	ADP
fbem-12572	118	104	the	the	DET
fbem-12572	118	105	period	period	NOUN
fbem-12572	118	106	return	return	NOUN
fbem-12572	118	107	on	on	ADP
fbem-12572	118	108	assets	asset	NOUN
fbem-12572	118	109	roa	roa	PROPN
fbem-12572	118	110	net	net	ADJ
fbem-12572	118	111	profit	profit	NOUN
fbem-12572	118	112	/	/	PUNCT
fbem-12572	118	113	(	(	PUNCT
fbem-12572	118	114	opening	open	VERB
fbem-12572	118	115	assets	asset	NOUN
fbem-12572	118	116	+	+	CCONJ
fbem-12572	118	117	closing	close	VERB
fbem-12572	118	118	assets	asset	NOUN
fbem-12572	118	119	)	)	PUNCT
fbem-12572	118	120	gearing	gear	VERB
fbem-12572	118	121	lev	lev	NOUN
fbem-12572	118	122	enterprise	enterprise	NOUN
fbem-12572	118	123	liabilities	liability	NOUN
fbem-12572	118	124	/	/	SYM
fbem-12572	118	125	enterprise	enterprise	NOUN
fbem-12572	118	126	assets	asset	NOUN
fbem-12572	118	127	enterprise	enterprise	NOUN
fbem-12572	118	128	size	size	NOUN
fbem-12572	118	129	size	size	NOUN
fbem-12572	118	130	natural	natural	ADJ
fbem-12572	118	131	logarithm	logarithm	NOUN
fbem-12572	118	132	of	of	ADP
fbem-12572	118	133	total	total	ADJ
fbem-12572	118	134	assets	asset	NOUN
fbem-12572	118	135	of	of	ADP
fbem-12572	118	136	the	the	DET
fbem-12572	118	137	enterprise	enterprise	NOUN
fbem-12572	118	138	at	at	ADP
fbem-12572	118	139	the	the	DET
fbem-12572	118	140	beginning	beginning	NOUN
fbem-12572	118	141	of	of	ADP
fbem-12572	118	142	the	the	DET
fbem-12572	118	143	period	period	NOUN
fbem-12572	118	144	overheads	overhead	NOUN
fbem-12572	118	145	glfy	glfy	VERB
fbem-12572	118	146	administrative	administrative	ADJ
fbem-12572	118	147	expenses	expense	NOUN
fbem-12572	118	148	/	/	SYM
fbem-12572	118	149	enterprise	enterprise	NOUN
fbem-12572	118	150	revenue	revenue	NOUN
fbem-12572	118	151	from	from	ADP
fbem-12572	118	152	primary	primary	ADJ
fbem-12572	118	153	operations	operation	NOUN
fbem-12572	118	154	3.3.2	3.3.2	NUM
fbem-12572	118	155	.	.	PUNCT
fbem-12572	119	1	construction	construction	NOUN
fbem-12572	119	2	of	of	ADP
fbem-12572	119	3	the	the	DET
fbem-12572	119	4	empirical	empirical	ADJ
fbem-12572	119	5	model	model	NOUN
fbem-12572	119	6	the	the	DET
fbem-12572	119	7	following	follow	VERB
fbem-12572	119	8	model	model	NOUN
fbem-12572	119	9	is	be	AUX
fbem-12572	119	10	developed	develop	VERB
fbem-12572	119	11	for	for	ADP
fbem-12572	119	12	the	the	DET
fbem-12572	119	13	relationship	relationship	NOUN
fbem-12572	119	14	between	between	ADP
fbem-12572	119	15	investor	investor	NOUN
fbem-12572	119	16	sentiment	sentiment	NOUN
fbem-12572	119	17	and	and	CCONJ
fbem-12572	119	18	the	the	DET
fbem-12572	119	19	size	size	NOUN
fbem-12572	119	20	of	of	ADP
fbem-12572	119	21	investment	investment	NOUN
fbem-12572	119	22	in	in	ADP
fbem-12572	119	23	listed	list	VERB
fbem-12572	119	24	firms	firm	NOUN
fbem-12572	119	25	in	in	ADP
fbem-12572	119	26	the	the	DET
fbem-12572	119	27	construction	construction	NOUN
fbem-12572	119	28	industry	industry	NOUN
fbem-12572	119	29	:	:	PUNCT
fbem-12572	119	30	𝑖𝑛𝑣	𝑖𝑛𝑣	ADV
fbem-12572	119	31	,	,	PUNCT
fbem-12572	119	32	𝛽	𝛽	NOUN
fbem-12572	119	33	𝛽	𝛽	NOUN
fbem-12572	119	34	𝑠𝑒𝑛𝑡	𝑠𝑒𝑛𝑡	NOUN
fbem-12572	119	35	,	,	PUNCT
fbem-12572	119	36	𝛽	𝛽	NOUN
fbem-12572	119	37	𝑔𝑟𝑜𝑤	𝑔𝑟𝑜𝑤	NOUN
fbem-12572	119	38	,	,	PUNCT
fbem-12572	119	39	𝛽	𝛽	NOUN
fbem-12572	119	40	𝑐𝑎𝑠ℎ	𝑐𝑎𝑠ℎ	NOUN
fbem-12572	119	41	,	,	PUNCT
fbem-12572	119	42	𝛽	𝛽	NOUN
fbem-12572	119	43	𝑅𝑂𝐴	𝑅𝑂𝐴	PROPN
fbem-12572	119	44	,	,	PUNCT
fbem-12572	119	45	𝛽	𝛽	NOUN
fbem-12572	119	46	𝑠𝑖𝑧𝑒	𝑠𝑖𝑧𝑒	PROPN
fbem-12572	119	47	,	,	PUNCT
fbem-12572	119	48	𝛽	𝛽	NOUN
fbem-12572	119	49	𝑙𝑒𝑣	𝑙𝑒𝑣	NOUN
fbem-12572	119	50	,	,	PUNCT
fbem-12572	119	51	𝛽	𝛽	NOUN
fbem-12572	119	52	𝑔𝑙𝑓𝑦	𝑔𝑙𝑓𝑦	NOUN
fbem-12572	119	53	,	,	PUNCT
fbem-12572	119	54	𝜀	𝜀	X
fbem-12572	119	55	in	in	ADP
fbem-12572	119	56	the	the	DET
fbem-12572	119	57	model	model	NOUN
fbem-12572	119	58	,	,	PUNCT
fbem-12572	119	59	i	i	PRON
fbem-12572	119	60	is	be	AUX
fbem-12572	119	61	a	a	DET
fbem-12572	119	62	listed	list	VERB
fbem-12572	119	63	firm	firm	NOUN
fbem-12572	119	64	,	,	PUNCT
fbem-12572	119	65	t	t	PROPN
fbem-12572	119	66	is	be	AUX
fbem-12572	119	67	a	a	DET
fbem-12572	119	68	year	year	NOUN
fbem-12572	119	69	,	,	PUNCT
fbem-12572	119	70	and	and	CCONJ
fbem-12572	119	71	all	all	DET
fbem-12572	119	72	variables	variable	NOUN
fbem-12572	119	73	except	except	SCONJ
fbem-12572	119	74	investor	investor	NOUN
fbem-12572	119	75	sentiment	sentiment	NOUN
fbem-12572	119	76	(	(	PUNCT
fbem-12572	119	77	sent	send	VERB
fbem-12572	119	78	)	)	PUNCT
fbem-12572	119	79	,	,	PUNCT
fbem-12572	119	80	firm	firm	ADJ
fbem-12572	119	81	cash	cash	NOUN
fbem-12572	119	82	flow	flow	NOUN
fbem-12572	119	83	(	(	PUNCT
fbem-12572	119	84	cash	cash	NOUN
fbem-12572	119	85	)	)	PUNCT
fbem-12572	119	86	,	,	PUNCT
fbem-12572	119	87	and	and	CCONJ
fbem-12572	119	88	overheads	overhead	NOUN
fbem-12572	119	89	(	(	PUNCT
fbem-12572	119	90	lev	lev	NOUN
fbem-12572	119	91	):	):	PUNCT
fbem-12572	119	92	firm	firm	ADJ
fbem-12572	119	93	growth	growth	NOUN
fbem-12572	119	94	(	(	PUNCT
fbem-12572	119	95	grow	grow	VERB
fbem-12572	119	96	)	)	PUNCT
fbem-12572	119	97	,	,	PUNCT
fbem-12572	119	98	gearing	gearing	NOUN
fbem-12572	119	99	(	(	PUNCT
fbem-12572	119	100	roa	roa	NOUN
fbem-12572	119	101	)	)	PUNCT
fbem-12572	119	102	,	,	PUNCT
fbem-12572	119	103	firm	firm	ADJ
fbem-12572	119	104	size	size	NOUN
fbem-12572	119	105	(	(	PUNCT
fbem-12572	119	106	size	size	NOUN
fbem-12572	119	107	)	)	PUNCT
fbem-12572	119	108	and	and	CCONJ
fbem-12572	119	109	gearing	gearing	NOUN
fbem-12572	119	110	(	(	PUNCT
fbem-12572	119	111	lev	lev	NOUN
fbem-12572	119	112	)	)	PUNCT
fbem-12572	119	113	are	be	AUX
fbem-12572	119	114	lagged	lag	VERB
fbem-12572	119	115	one	one	NUM
fbem-12572	119	116	period	period	NOUN
fbem-12572	119	117	data	datum	NOUN
fbem-12572	119	118	.	.	PUNCT
fbem-12572	120	1	4	4	X
fbem-12572	120	2	.	.	X
fbem-12572	120	3	findings	finding	NOUN
fbem-12572	120	4	and	and	CCONJ
fbem-12572	120	5	conclusions	conclusion	NOUN
fbem-12572	120	6	4.1	4.1	NUM
fbem-12572	120	7	.	.	PUNCT
fbem-12572	121	1	empirical	empirical	ADJ
fbem-12572	121	2	results	result	NOUN
fbem-12572	121	3	and	and	CCONJ
fbem-12572	121	4	analyses	analysis	NOUN
fbem-12572	121	5	with	with	ADP
fbem-12572	121	6	the	the	DET
fbem-12572	121	7	above	above	ADJ
fbem-12572	121	8	model	model	NOUN
fbem-12572	121	9	,	,	PUNCT
fbem-12572	121	10	descriptive	descriptive	ADJ
fbem-12572	121	11	statistics	statistic	NOUN
fbem-12572	121	12	,	,	PUNCT
fbem-12572	121	13	correlation	correlation	NOUN
fbem-12572	121	14	coefficients	coefficient	NOUN
fbem-12572	121	15	between	between	ADP
fbem-12572	121	16	variables	variable	NOUN
fbem-12572	121	17	,	,	PUNCT
fbem-12572	121	18	and	and	CCONJ
fbem-12572	121	19	regression	regression	NOUN
fbem-12572	121	20	results	result	NOUN
fbem-12572	121	21	were	be	AUX
fbem-12572	121	22	obtained	obtain	VERB
fbem-12572	121	23	through	through	ADP
fbem-12572	121	24	stata	stata	NOUN
fbem-12572	121	25	data	datum	NOUN
fbem-12572	121	26	analysis	analysis	NOUN
fbem-12572	121	27	and	and	CCONJ
fbem-12572	121	28	model	model	NOUN
fbem-12572	121	29	regression	regression	NOUN
fbem-12572	121	30	.	.	PUNCT
fbem-12572	122	1	4.1.1	4.1.1	X
fbem-12572	122	2	.	.	PUNCT
fbem-12572	122	3	descriptive	descriptive	ADJ
fbem-12572	122	4	statistics	statistic	NOUN
fbem-12572	122	5	table	table	NOUN
fbem-12572	122	6	2	2	NUM
fbem-12572	122	7	.	.	PUNCT
fbem-12572	122	8	results	result	NOUN
fbem-12572	122	9	of	of	ADP
fbem-12572	122	10	descriptive	descriptive	ADJ
fbem-12572	122	11	statistics	statistic	NOUN
fbem-12572	122	12	of	of	ADP
fbem-12572	122	13	study	study	NOUN
fbem-12572	122	14	variables	variable	VERB
fbem-12572	122	15	variant	variant	ADJ
fbem-12572	122	16	typology	typology	NOUN
fbem-12572	122	17	variant	variant	NOUN
fbem-12572	122	18	observed	observe	VERB
fbem-12572	122	19	value	value	NOUN
fbem-12572	122	20	average	average	ADJ
fbem-12572	122	21	value	value	NOUN
fbem-12572	122	22	maximum	maximum	ADJ
fbem-12572	122	23	values	value	NOUN
fbem-12572	122	24	minimum	minimum	NOUN
fbem-12572	122	25	value	value	NOUN
fbem-12572	122	26	standard	standard	ADJ
fbem-12572	122	27	deviation	deviation	NOUN
fbem-12572	122	28	explanatory	explanatory	ADJ
fbem-12572	122	29	variable	variable	NOUN
fbem-12572	122	30	inv	inv	VERB
fbem-12572	122	31	26,238	26,238	NUM
fbem-12572	122	32	0.2078	0.2078	NUM
fbem-12572	122	33	152.8018	152.8018	NUM
fbem-12572	122	34	0	0	NUM
fbem-12572	122	35	1.2369	1.2369	NUM
fbem-12572	122	36	resid	resid	NOUN
fbem-12572	122	37	23,861	23,861	NUM
fbem-12572	122	38	0.0064	0.0064	NUM
fbem-12572	122	39	0.8710	0.8710	NUM
fbem-12572	122	40	-0.3219	-0.3219	NOUN
fbem-12572	122	41	0.0916	0.0916	NUM
fbem-12572	122	42	account	account	NOUN
fbem-12572	122	43	for	for	ADP
fbem-12572	122	44	variant	variant	NOUN
fbem-12572	122	45	sent	send	VERB
fbem-12572	122	46	26,238	26,238	NUM
fbem-12572	122	47	0.0285	0.0285	NUM
fbem-12572	122	48	4.4700	4.4700	NUM
fbem-12572	122	49	-5.1081	-5.1081	NOUN
fbem-12572	122	50	0.0920	0.0920	NUM
fbem-12572	122	51	containment	containment	NOUN
fbem-12572	122	52	variant	variant	NOUN
fbem-12572	122	53	grow	grow	VERB
fbem-12572	122	54	26,238	26,238	NUM
fbem-12572	122	55	0.5927	0.5927	NUM
fbem-12572	122	56	51.2807	51.2807	NUM
fbem-12572	122	57	-0.9113	-0.9113	NOUN
fbem-12572	122	58	1.8174	1.8174	NUM
fbem-12572	122	59	cash	cash	NOUN
fbem-12572	122	60	26,238	26,238	NUM
fbem-12572	122	61	0.0570	0.0570	NUM
fbem-12572	122	62	8.9405	8.9405	NUM
fbem-12572	122	63	-10.2162	-10.2162	SYM
fbem-12572	122	64	0.1841	0.1841	NUM
fbem-12572	122	65	roa	roa	NOUN
fbem-12572	122	66	26,238	26,238	NUM
fbem-12572	122	67	0.0156	0.0156	NUM
fbem-12572	122	68	3.6783	3.6783	NUM
fbem-12572	122	69	-9.9072	-9.9072	NOUN
fbem-12572	122	70	0.0869	0.0869	NUM
fbem-12572	122	71	lev	lev	NOUN
fbem-12572	122	72	26,238	26,238	NUM
fbem-12572	122	73	0.4587	0.4587	NUM
fbem-12572	122	74	2292.5130	2292.5130	NUM
fbem-12572	122	75	-0.1947	-0.1947	NOUN
fbem-12572	122	76	14.1550	14.1550	NUM
fbem-12572	122	77	size	size	NOUN
fbem-12572	122	78	26,238	26,238	NUM
fbem-12572	122	79	22.0045	22.0045	NUM
fbem-12572	122	80	31.0849	31.0849	NUM
fbem-12572	122	81	13.3696	13.3696	NUM
fbem-12572	122	82	1.4122	1.4122	NUM
fbem-12572	122	83	glfy	glfy	NOUN
fbem-12572	122	84	26,238	26,238	NUM
fbem-12572	122	85	14.3097	14.3097	NUM
fbem-12572	122	86	183604.1	183604.1	NUM
fbem-12572	122	87	-111.3749	-111.3749	NUM
fbem-12572	122	88	1188.712	1188.712	NUM
fbem-12572	122	89	as	as	SCONJ
fbem-12572	122	90	can	can	AUX
fbem-12572	122	91	be	be	AUX
fbem-12572	122	92	seen	see	VERB
fbem-12572	122	93	from	from	ADP
fbem-12572	122	94	the	the	DET
fbem-12572	122	95	above	above	ADJ
fbem-12572	122	96	table:1	table:1	NOUN
fbem-12572	122	97	.	.	PUNCT
fbem-12572	123	1	the	the	DET
fbem-12572	123	2	average	average	ADJ
fbem-12572	123	3	value	value	NOUN
fbem-12572	123	4	of	of	ADP
fbem-12572	123	5	capital	capital	NOUN
fbem-12572	123	6	investment	investment	NOUN
fbem-12572	123	7	of	of	ADP
fbem-12572	123	8	china	china	PROPN
fbem-12572	123	9	's	's	PART
fbem-12572	123	10	listed	list	VERB
fbem-12572	123	11	enterprises	enterprise	NOUN
fbem-12572	123	12	is	be	AUX
fbem-12572	123	13	0.2078	0.2078	NUM
fbem-12572	123	14	,	,	PUNCT
fbem-12572	123	15	indicating	indicate	VERB
fbem-12572	123	16	that	that	SCONJ
fbem-12572	123	17	the	the	DET
fbem-12572	123	18	investment	investment	NOUN
fbem-12572	123	19	ratio	ratio	NOUN
fbem-12572	123	20	of	of	ADP
fbem-12572	123	21	the	the	DET
fbem-12572	123	22	enterprises	enterprise	NOUN
fbem-12572	123	23	whose	whose	DET
fbem-12572	123	24	data	datum	NOUN
fbem-12572	123	25	are	be	AUX
fbem-12572	123	26	collected	collect	VERB
fbem-12572	123	27	accounts	account	NOUN
fbem-12572	123	28	for	for	ADP
fbem-12572	123	29	20.78	20.78	NUM
fbem-12572	123	30	%	%	NOUN
fbem-12572	123	31	of	of	ADP
fbem-12572	123	32	total	total	ADJ
fbem-12572	123	33	assets	asset	NOUN
fbem-12572	123	34	,	,	PUNCT
fbem-12572	123	35	but	but	CCONJ
fbem-12572	123	36	the	the	DET
fbem-12572	123	37	investment	investment	NOUN
fbem-12572	123	38	differences	difference	NOUN
fbem-12572	123	39	between	between	ADP
fbem-12572	123	40	enterprises	enterprise	NOUN
fbem-12572	123	41	are	be	AUX
fbem-12572	123	42	significant	significant	ADJ
fbem-12572	123	43	maximum	maximum	ADJ
fbem-12572	123	44	value	value	NOUN
fbem-12572	123	45	of	of	ADP
fbem-12572	123	46	152.1808	152.1808	NUM
fbem-12572	123	47	,	,	PUNCT
fbem-12572	123	48	minimum	minimum	ADJ
fbem-12572	123	49	value	value	NOUN
fbem-12572	123	50	of	of	ADP
fbem-12572	123	51	0	0	NUM
fbem-12572	123	52	,	,	PUNCT
fbem-12572	123	53	and	and	CCONJ
fbem-12572	123	54	the	the	DET
fbem-12572	123	55	level	level	NOUN
fbem-12572	123	56	of	of	ADP
fbem-12572	123	57	investment	investment	NOUN
fbem-12572	123	58	is	be	AUX
fbem-12572	123	59	seriously	seriously	ADV
fbem-12572	123	60	polarised;2	polarised;2	NOUN
fbem-12572	123	61	.	.	PUNCT
fbem-12572	124	1	the	the	DET
fbem-12572	124	2	average	average	ADJ
fbem-12572	124	3	value	value	NOUN
fbem-12572	124	4	of	of	ADP
fbem-12572	124	5	the	the	DET
fbem-12572	124	6	residuals	residual	NOUN
fbem-12572	124	7	of	of	ADP
fbem-12572	124	8	the	the	DET
fbem-12572	124	9	samples	sample	NOUN
fbem-12572	124	10	is	be	AUX
fbem-12572	124	11	0.0064	0.0064	NUM
fbem-12572	124	12	,	,	PUNCT
fbem-12572	124	13	which	which	PRON
fbem-12572	124	14	is	be	AUX
fbem-12572	124	15	close	close	ADJ
fbem-12572	124	16	to	to	ADP
fbem-12572	124	17	0	0	NUM
fbem-12572	124	18	,	,	PUNCT
fbem-12572	124	19	and	and	CCONJ
fbem-12572	124	20	china	china	PROPN
fbem-12572	124	21	's	's	PART
fbem-12572	124	22	listed	list	VERB
fbem-12572	124	23	enterprises	enterprise	NOUN
fbem-12572	124	24	are	be	AUX
fbem-12572	124	25	more	more	ADV
fbem-12572	124	26	effective	effective	ADJ
fbem-12572	124	27	on	on	ADP
fbem-12572	124	28	the	the	DET
fbem-12572	124	29	surface	surface	NOUN
fbem-12572	124	30	,	,	PUNCT
fbem-12572	124	31	but	but	CCONJ
fbem-12572	124	32	intrinsic	intrinsic	ADJ
fbem-12572	124	33	needs	need	NOUN
fbem-12572	124	34	further	further	ADJ
fbem-12572	124	35	research;3	research;3	PROPN
fbem-12572	124	36	.	.	PUNCT
fbem-12572	125	1	the	the	DET
fbem-12572	125	2	surface	surface	NOUN
fbem-12572	125	3	view	view	NOUN
fbem-12572	125	4	is	be	AUX
fbem-12572	125	5	more	more	ADV
fbem-12572	125	6	effective	effective	ADJ
fbem-12572	125	7	,	,	PUNCT
fbem-12572	125	8	but	but	CCONJ
fbem-12572	125	9	the	the	DET
fbem-12572	125	10	inner	inner	NOUN
fbem-12572	125	11	still	still	ADV
fbem-12572	125	12	needs	need	VERB
fbem-12572	125	13	further	further	ADJ
fbem-12572	125	14	research	research	NOUN
fbem-12572	125	15	;	;	PUNCT
fbem-12572	126	1	3	3	X
fbem-12572	126	2	.	.	X
fbem-12572	127	1	the	the	DET
fbem-12572	127	2	average	average	ADJ
fbem-12572	127	3	value	value	NOUN
fbem-12572	127	4	of	of	ADP
fbem-12572	127	5	investor	investor	NOUN
fbem-12572	127	6	sentiment	sentiment	NOUN
fbem-12572	127	7	is	be	AUX
fbem-12572	127	8	0.0285	0.0285	NUM
fbem-12572	127	9	.	.	PUNCT
fbem-12572	128	1	the	the	DET
fbem-12572	128	2	maximum	maximum	ADJ
fbem-12572	128	3	value	value	NOUN
fbem-12572	128	4	is	be	AUX
fbem-12572	128	5	4.4700	4.4700	NUM
fbem-12572	128	6	.	.	PUNCT
fbem-12572	129	1	the	the	DET
fbem-12572	129	2	minimum	minimum	ADJ
fbem-12572	129	3	value	value	NOUN
fbem-12572	129	4	is	be	AUX
fbem-12572	129	5	5.1081	5.1081	NUM
fbem-12572	129	6	,	,	PUNCT
fbem-12572	129	7	visible	visible	ADJ
fbem-12572	129	8	in	in	ADP
fbem-12572	129	9	china	china	PROPN
fbem-12572	129	10	's	's	PART
fbem-12572	129	11	capital	capital	NOUN
fbem-12572	129	12	market	market	NOUN
fbem-12572	129	13	investor	investor	NOUN
fbem-12572	129	14	sentiment	sentiment	NOUN
fbem-12572	129	15	ups	up	NOUN
fbem-12572	129	16	and	and	CCONJ
fbem-12572	129	17	downs	down	NOUN
fbem-12572	129	18	;	;	PUNCT
fbem-12572	129	19	4	4	X
fbem-12572	129	20	.	.	X
fbem-12572	130	1	the	the	DET
fbem-12572	130	2	standard	standard	ADJ
fbem-12572	130	3	deviation	deviation	NOUN
fbem-12572	130	4	of	of	ADP
fbem-12572	130	5	the	the	DET
fbem-12572	130	6	enterprise	enterprise	NOUN
fbem-12572	130	7	growth	growth	NOUN
fbem-12572	130	8	on	on	ADP
fbem-12572	130	9	the	the	DET
fbem-12572	130	10	standard	standard	ADJ
fbem-12572	130	11	deviation	deviation	NOUN
fbem-12572	130	12	of	of	ADP
fbem-12572	130	13	1.8174	1.8174	NUM
fbem-12572	130	14	,	,	PUNCT
fbem-12572	130	15	indicating	indicate	VERB
fbem-12572	130	16	that	that	SCONJ
fbem-12572	130	17	the	the	DET
fbem-12572	130	18	133	133	NUM
fbem-12572	130	19	development	development	NOUN
fbem-12572	130	20	of	of	ADP
fbem-12572	130	21	china	china	PROPN
fbem-12572	130	22	's	's	PART
fbem-12572	130	23	listed	list	VERB
fbem-12572	130	24	enterprises	enterprise	NOUN
fbem-12572	130	25	is	be	AUX
fbem-12572	130	26	uneven	uneven	ADJ
fbem-12572	130	27	.	.	PUNCT
fbem-12572	131	1	the	the	DET
fbem-12572	131	2	difference	difference	NOUN
fbem-12572	131	3	is	be	AUX
fbem-12572	131	4	enormous	enormous	ADJ
fbem-12572	131	5	.	.	PUNCT
fbem-12572	132	1	4.1.2	4.1.2	X
fbem-12572	132	2	.	.	PUNCT
fbem-12572	132	3	correlation	correlation	NOUN
fbem-12572	132	4	coefficients	coefficient	NOUN
fbem-12572	132	5	table	table	NOUN
fbem-12572	132	6	3	3	NUM
fbem-12572	132	7	.	.	PUNCT
fbem-12572	132	8	correlation	correlation	NOUN
fbem-12572	132	9	coefficients	coefficient	NOUN
fbem-12572	132	10	between	between	ADP
fbem-12572	132	11	variables	variable	NOUN
fbem-12572	132	12	note	note	VERB
fbem-12572	132	13	:	:	PUNCT
fbem-12572	132	14	*	*	PUNCT
fbem-12572	132	15	is	be	AUX
fbem-12572	132	16	significant	significant	ADJ
fbem-12572	132	17	at	at	ADP
fbem-12572	132	18	the	the	DET
fbem-12572	132	19	10	10	NUM
fbem-12572	132	20	percent	percent	NOUN
fbem-12572	132	21	correlation	correlation	NOUN
fbem-12572	132	22	level	level	NOUN
fbem-12572	132	23	.	.	PUNCT
fbem-12572	133	1	analyzing	analyze	VERB
fbem-12572	133	2	the	the	DET
fbem-12572	133	3	above	above	ADJ
fbem-12572	133	4	table	table	NOUN
fbem-12572	133	5	,	,	PUNCT
fbem-12572	133	6	investor	investor	NOUN
fbem-12572	133	7	sentiment	sentiment	NOUN
fbem-12572	133	8	is	be	AUX
fbem-12572	133	9	positively	positively	ADV
fbem-12572	133	10	correlated	correlate	VERB
fbem-12572	133	11	with	with	ADP
fbem-12572	133	12	corporate	corporate	ADJ
fbem-12572	133	13	investment	investment	NOUN
fbem-12572	133	14	,	,	PUNCT
fbem-12572	133	15	verifying	verify	VERB
fbem-12572	133	16	the	the	DET
fbem-12572	133	17	hypothesis	hypothesis	NOUN
fbem-12572	133	18	.	.	PUNCT
fbem-12572	134	1	4.1.3	4.1.3	X
fbem-12572	134	2	.	.	PUNCT
fbem-12572	135	1	regression	regression	NOUN
fbem-12572	135	2	results	result	VERB
fbem-12572	135	3	the	the	DET
fbem-12572	135	4	regression	regression	NOUN
fbem-12572	135	5	of	of	ADP
fbem-12572	135	6	the	the	DET
fbem-12572	135	7	above	above	ADJ
fbem-12572	135	8	model	model	NOUN
fbem-12572	135	9	is	be	AUX
fbem-12572	135	10	shown	show	VERB
fbem-12572	135	11	in	in	ADP
fbem-12572	135	12	the	the	DET
fbem-12572	135	13	table	table	NOUN
fbem-12572	135	14	below	below	ADV
fbem-12572	135	15	,	,	PUNCT
fbem-12572	135	16	where	where	SCONJ
fbem-12572	135	17	the	the	DET
fbem-12572	135	18	regression	regression	NOUN
fbem-12572	135	19	result	result	NOUN
fbem-12572	135	20	(	(	PUNCT
fbem-12572	135	21	1	1	X
fbem-12572	135	22	)	)	PUNCT
fbem-12572	135	23	is	be	AUX
fbem-12572	135	24	the	the	DET
fbem-12572	135	25	effect	effect	NOUN
fbem-12572	135	26	of	of	ADP
fbem-12572	135	27	investor	investor	NOUN
fbem-12572	135	28	sentiment	sentiment	NOUN
fbem-12572	135	29	as	as	ADP
fbem-12572	135	30	a	a	DET
fbem-12572	135	31	single	single	ADJ
fbem-12572	135	32	factor	factor	NOUN
fbem-12572	135	33	variable	variable	NOUN
fbem-12572	135	34	on	on	ADP
fbem-12572	135	35	the	the	DET
fbem-12572	135	36	size	size	NOUN
fbem-12572	135	37	of	of	ADP
fbem-12572	135	38	corporate	corporate	ADJ
fbem-12572	135	39	investment	investment	NOUN
fbem-12572	135	40	,	,	PUNCT
fbem-12572	135	41	and	and	CCONJ
fbem-12572	135	42	the	the	DET
fbem-12572	135	43	regression	regression	NOUN
fbem-12572	135	44	result	result	NOUN
fbem-12572	135	45	(	(	PUNCT
fbem-12572	135	46	2	2	X
fbem-12572	135	47	)	)	PUNCT
fbem-12572	135	48	adds	add	VERB
fbem-12572	135	49	control	control	NOUN
fbem-12572	135	50	variables	variable	NOUN
fbem-12572	135	51	such	such	ADJ
fbem-12572	135	52	as	as	ADP
fbem-12572	135	53	grow	grow	VERB
fbem-12572	135	54	and	and	CCONJ
fbem-12572	135	55	cash	cash	NOUN
fbem-12572	135	56	.	.	PUNCT
fbem-12572	136	1	table	table	NOUN
fbem-12572	136	2	4	4	NUM
fbem-12572	136	3	.	.	PUNCT
fbem-12572	137	1	regression	regression	NOUN
fbem-12572	137	2	results	result	NOUN
fbem-12572	137	3	of	of	ADP
fbem-12572	137	4	investor	investor	NOUN
fbem-12572	137	5	sentiment	sentiment	NOUN
fbem-12572	137	6	on	on	ADP
fbem-12572	137	7	investment	investment	NOUN
fbem-12572	137	8	size	size	NOUN
fbem-12572	137	9	of	of	ADP
fbem-12572	137	10	listed	list	VERB
fbem-12572	137	11	firms	firm	NOUN
fbem-12572	137	12	(	(	PUNCT
fbem-12572	137	13	1	1	NUM
fbem-12572	137	14	)	)	PUNCT
fbem-12572	137	15	(	(	PUNCT
fbem-12572	137	16	2	2	X
fbem-12572	137	17	)	)	PUNCT
fbem-12572	137	18	variant	variant	NOUN
fbem-12572	137	19	full	full	ADJ
fbem-12572	137	20	sample	sample	NOUN
fbem-12572	137	21	full	full	ADJ
fbem-12572	137	22	sample	sample	NOUN
fbem-12572	137	23	c	c	NOUN
fbem-12572	137	24	0.0852	0.0852	NUM
fbem-12572	137	25	*	*	PUNCT
fbem-12572	137	26	*	*	PUNCT
fbem-12572	137	27	*	*	PUNCT
fbem-12572	137	28	(	(	PUNCT
fbem-12572	137	29	82.5	82.5	NUM
fbem-12572	137	30	)	)	PUNCT
fbem-12572	137	31	0.760	0.760	NUM
fbem-12572	138	1	*	*	PUNCT
fbem-12572	138	2	*	*	PUNCT
fbem-12572	138	3	*	*	PUNCT
fbem-12572	138	4	(	(	PUNCT
fbem-12572	138	5	0.0025	0.0025	NUM
fbem-12572	138	6	)	)	PUNCT
fbem-12572	138	7	sent	send	VERB
fbem-12572	138	8	0.0172	0.0172	NUM
fbem-12572	138	9	*	*	NOUN
fbem-12572	138	10	*	*	PUNCT
fbem-12572	138	11	(	(	PUNCT
fbem-12572	138	12	8.63	8.63	NUM
fbem-12572	138	13	)	)	PUNCT
fbem-12572	138	14	25.3584	25.3584	NUM
fbem-12572	138	15	*	*	SYM
fbem-12572	138	16	(	(	PUNCT
fbem-12572	138	17	8.53	8.53	NUM
fbem-12572	138	18	)	)	PUNCT
fbem-12572	138	19	grow	grow	VERB
fbem-12572	138	20	24.8101	24.8101	NUM
fbem-12572	138	21	*	*	PUNCT
fbem-12572	138	22	(	(	PUNCT
fbem-12572	138	23	0.0062	0.0062	NUM
fbem-12572	138	24	)	)	PUNCT
fbem-12572	138	25	cash	cash	NOUN
fbem-12572	138	26	0.0969	0.0969	NUM
fbem-12572	138	27	*	*	PUNCT
fbem-12572	138	28	*	*	PUNCT
fbem-12572	138	29	*	*	PUNCT
fbem-12572	138	30	(	(	PUNCT
fbem-12572	138	31	7.42	7.42	NUM
fbem-12572	138	32	)	)	PUNCT
fbem-12572	138	33	roa	roa	NOUN
fbem-12572	138	34	0.3475	0.3475	NUM
fbem-12572	138	35	*	*	PUNCT
fbem-12572	138	36	*	*	PUNCT
fbem-12572	138	37	*	*	PUNCT
fbem-12572	138	38	(	(	PUNCT
fbem-12572	138	39	6.72	6.72	NUM
fbem-12572	138	40	)	)	PUNCT
fbem-12572	138	41	size	size	NOUN
fbem-12572	138	42	0.0013	0.0013	NUM
fbem-12572	138	43	*	*	NOUN
fbem-12572	138	44	*	*	PUNCT
fbem-12572	138	45	(	(	PUNCT
fbem-12572	138	46	1.21	1.21	NUM
fbem-12572	138	47	)	)	PUNCT
fbem-12572	138	48	lev	lev	NOUN
fbem-12572	138	49	-0.01270	-0.01270	NOUN
fbem-12572	138	50	(	(	PUNCT
fbem-12572	138	51	-5.53	-5.53	NOUN
fbem-12572	138	52	)	)	PUNCT
fbem-12572	138	53	r	r	NOUN
fbem-12572	138	54	-	-	PUNCT
fbem-12572	138	55	sq	sq	NUM
fbem-12572	138	56	0.0258	0.0258	NUM
fbem-12572	138	57	0.0849	0.0849	NUM
fbem-12572	138	58	f	f	NOUN
fbem-12572	138	59	24591.85	24591.85	NUM
fbem-12572	138	60	760.42	760.42	NUM
fbem-12572	138	61	number	number	NOUN
fbem-12572	138	62	of	of	ADP
fbem-12572	138	63	samples	sample	NOUN
fbem-12572	138	64	26238	26238	NUM
fbem-12572	138	65	26238	26238	NUM
fbem-12572	138	66	note	note	NOUN
fbem-12572	138	67	:	:	PUNCT
fbem-12572	139	1	*	*	PUNCT
fbem-12572	139	2	*	*	PUNCT
fbem-12572	139	3	*	*	PUNCT
fbem-12572	139	4	,	,	PUNCT
fbem-12572	139	5	*	*	PUNCT
fbem-12572	139	6	*	*	PUNCT
fbem-12572	139	7	,	,	PUNCT
fbem-12572	139	8	and	and	CCONJ
fbem-12572	139	9	*	*	PUNCT
fbem-12572	139	10	indicate	indicate	VERB
fbem-12572	139	11	significance	significance	NOUN
fbem-12572	139	12	at	at	ADP
fbem-12572	139	13	the	the	DET
fbem-12572	139	14	1	1	NUM
fbem-12572	139	15	percent	percent	NOUN
fbem-12572	139	16	,	,	PUNCT
fbem-12572	139	17	5	5	NUM
fbem-12572	139	18	percent	percent	NOUN
fbem-12572	139	19	,	,	PUNCT
fbem-12572	139	20	and	and	CCONJ
fbem-12572	139	21	10	10	NUM
fbem-12572	139	22	percent	percent	NOUN
fbem-12572	139	23	levels	level	NOUN
fbem-12572	139	24	,	,	PUNCT
fbem-12572	139	25	respectively	respectively	ADV
fbem-12572	139	26	,	,	PUNCT
fbem-12572	139	27	and	and	CCONJ
fbem-12572	139	28	t	t	NOUN
fbem-12572	139	29	-	-	PUNCT
fbem-12572	139	30	values	value	NOUN
fbem-12572	139	31	within	within	ADP
fbem-12572	139	32	(	(	PUNCT
fbem-12572	139	33	)	)	PUNCT
fbem-12572	139	34	.	.	PUNCT
fbem-12572	140	1	according	accord	VERB
fbem-12572	140	2	to	to	ADP
fbem-12572	140	3	the	the	DET
fbem-12572	140	4	regression	regression	NOUN
fbem-12572	140	5	results	result	NOUN
fbem-12572	140	6	,	,	PUNCT
fbem-12572	140	7	in	in	ADP
fbem-12572	140	8	regression	regression	NOUN
fbem-12572	140	9	results	result	NOUN
fbem-12572	140	10	(	(	PUNCT
fbem-12572	140	11	1	1	NUM
fbem-12572	140	12	)	)	PUNCT
fbem-12572	140	13	,	,	PUNCT
fbem-12572	140	14	the	the	DET
fbem-12572	140	15	regression	regression	NOUN
fbem-12572	140	16	results	result	NOUN
fbem-12572	140	17	of	of	ADP
fbem-12572	140	18	investor	investor	NOUN
fbem-12572	140	19	sentiment	sentiment	NOUN
fbem-12572	140	20	on	on	ADP
fbem-12572	140	21	the	the	DET
fbem-12572	140	22	investment	investment	NOUN
fbem-12572	140	23	scale	scale	NOUN
fbem-12572	140	24	of	of	ADP
fbem-12572	140	25	listed	list	VERB
fbem-12572	140	26	enterprises	enterprise	NOUN
fbem-12572	140	27	are	be	AUX
fbem-12572	140	28	significant	significant	ADJ
fbem-12572	140	29	at	at	ADP
fbem-12572	140	30	the	the	DET
fbem-12572	140	31	1	1	NUM
fbem-12572	140	32	%	%	NOUN
fbem-12572	140	33	level	level	NOUN
fbem-12572	140	34	,	,	PUNCT
fbem-12572	140	35	and	and	CCONJ
fbem-12572	140	36	the	the	DET
fbem-12572	140	37	hypothesis	hypothesis	NOUN
fbem-12572	140	38	is	be	AUX
fbem-12572	140	39	valid	valid	ADJ
fbem-12572	140	40	;	;	PUNCT
fbem-12572	140	41	in	in	ADP
fbem-12572	140	42	the	the	DET
fbem-12572	140	43	regression	regression	NOUN
fbem-12572	140	44	results	result	NOUN
fbem-12572	140	45	(	(	PUNCT
fbem-12572	140	46	2	2	NUM
fbem-12572	140	47	)	)	PUNCT
fbem-12572	140	48	,	,	PUNCT
fbem-12572	140	49	the	the	DET
fbem-12572	140	50	investor	investor	NOUN
fbem-12572	140	51	sentiment	sentiment	NOUN
fbem-12572	140	52	is	be	AUX
fbem-12572	140	53	positive	positive	ADJ
fbem-12572	140	54	at	at	ADP
fbem-12572	140	55	the	the	DET
fbem-12572	140	56	10	10	NUM
fbem-12572	140	57	%	%	NOUN
fbem-12572	140	58	significance	significance	NOUN
fbem-12572	140	59	level	level	NOUN
fbem-12572	140	60	,	,	PUNCT
fbem-12572	140	61	which	which	PRON
fbem-12572	140	62	is	be	AUX
fbem-12572	140	63	the	the	DET
fbem-12572	140	64	same	same	ADJ
fbem-12572	140	65	as	as	ADP
fbem-12572	140	66	the	the	DET
fbem-12572	140	67	results	result	NOUN
fbem-12572	140	68	of	of	ADP
fbem-12572	140	69	the	the	DET
fbem-12572	140	70	previous	previous	ADJ
fbem-12572	140	71	analysis	analysis	NOUN
fbem-12572	140	72	;	;	PUNCT
fbem-12572	140	73	the	the	DET
fbem-12572	140	74	regression	regression	NOUN
fbem-12572	140	75	coefficient	coefficient	NOUN
fbem-12572	140	76	of	of	ADP
fbem-12572	140	77	the	the	DET
fbem-12572	140	78	balance	balance	NOUN
fbem-12572	140	79	sheet	sheet	NOUN
fbem-12572	140	80	ratio	ratio	NOUN
fbem-12572	140	81	(	(	PUNCT
fbem-12572	140	82	lev	lev	NOUN
fbem-12572	140	83	)	)	PUNCT
fbem-12572	140	84	is	be	AUX
fbem-12572	140	85	negative	negative	ADJ
fbem-12572	140	86	,	,	PUNCT
fbem-12572	140	87	and	and	CCONJ
fbem-12572	140	88	the	the	DET
fbem-12572	140	89	height	height	NOUN
fbem-12572	140	90	of	of	ADP
fbem-12572	140	91	the	the	DET
fbem-12572	140	92	balance	balance	NOUN
fbem-12572	140	93	sheet	sheet	NOUN
fbem-12572	140	94	ratio	ratio	NOUN
fbem-12572	140	95	influences	influence	VERB
fbem-12572	140	96	the	the	DET
fbem-12572	140	97	investment	investment	NOUN
fbem-12572	140	98	level	level	NOUN
fbem-12572	140	99	of	of	ADP
fbem-12572	140	100	the	the	DET
fbem-12572	140	101	enterprise	enterprise	NOUN
fbem-12572	140	102	,	,	PUNCT
fbem-12572	140	103	and	and	CCONJ
fbem-12572	140	104	the	the	PRON
fbem-12572	140	105	higher	high	ADJ
fbem-12572	140	106	the	the	DET
fbem-12572	140	107	balance	balance	NOUN
fbem-12572	140	108	sheet	sheet	NOUN
fbem-12572	140	109	ratio	ratio	NOUN
fbem-12572	140	110	,	,	PUNCT
fbem-12572	140	111	the	the	PRON
fbem-12572	140	112	higher	high	ADJ
fbem-12572	140	113	the	the	DET
fbem-12572	140	114	gearing	gear	VERB
fbem-12572	140	115	ratio	ratio	NOUN
fbem-12572	140	116	,	,	PUNCT
fbem-12572	140	117	the	the	PRON
fbem-12572	140	118	greater	great	ADJ
fbem-12572	140	119	the	the	DET
fbem-12572	140	120	constraints	constraint	NOUN
fbem-12572	140	121	on	on	ADP
fbem-12572	140	122	enterprise	enterprise	NOUN
fbem-12572	140	123	investment	investment	NOUN
fbem-12572	140	124	;	;	PUNCT
fbem-12572	140	125	the	the	DET
fbem-12572	140	126	regression	regression	NOUN
fbem-12572	140	127	coefficient	coefficient	NOUN
fbem-12572	140	128	of	of	ADP
fbem-12572	140	129	enterprise	enterprise	NOUN
fbem-12572	140	130	size	size	NOUN
fbem-12572	140	131	is	be	AUX
fbem-12572	140	132	significant	significant	ADJ
fbem-12572	140	133	,	,	PUNCT
fbem-12572	140	134	indicating	indicate	VERB
fbem-12572	140	135	that	that	SCONJ
fbem-12572	140	136	the	the	DET
fbem-12572	140	137	larger	large	ADJ
fbem-12572	140	138	companies	company	NOUN
fbem-12572	140	139	in	in	ADP
fbem-12572	140	140	china	china	PROPN
fbem-12572	140	141	's	's	PART
fbem-12572	140	142	listed	list	VERB
fbem-12572	140	143	enterprises	enterprise	NOUN
fbem-12572	140	144	attach	attach	VERB
fbem-12572	140	145	more	more	ADJ
fbem-12572	140	146	importance	importance	NOUN
fbem-12572	140	147	to	to	ADP
fbem-12572	140	148	the	the	DET
fbem-12572	140	149	level	level	NOUN
fbem-12572	140	150	of	of	ADP
fbem-12572	140	151	investment	investment	NOUN
fbem-12572	140	152	,	,	PUNCT
fbem-12572	140	153	and	and	CCONJ
fbem-12572	140	154	focus	focus	VERB
fbem-12572	140	155	on	on	ADP
fbem-12572	140	156	the	the	DET
fbem-12572	140	157	expansion	expansion	NOUN
fbem-12572	140	158	of	of	ADP
fbem-12572	140	159	the	the	DET
fbem-12572	140	160	scale	scale	NOUN
fbem-12572	140	161	of	of	ADP
fbem-12572	140	162	investment	investment	NOUN
fbem-12572	140	163	based	base	VERB
fbem-12572	140	164	on	on	ADP
fbem-12572	140	165	the	the	DET
fbem-12572	140	166	development	development	NOUN
fbem-12572	140	167	of	of	ADP
fbem-12572	140	168	mature	mature	ADJ
fbem-12572	140	169	business	business	NOUN
fbem-12572	140	170	.	.	PUNCT
fbem-12572	141	1	the	the	DET
fbem-12572	141	2	results	result	NOUN
fbem-12572	141	3	obtained	obtain	VERB
fbem-12572	141	4	from	from	ADP
fbem-12572	141	5	the	the	DET
fbem-12572	141	6	empirical	empirical	ADJ
fbem-12572	141	7	evidence	evidence	NOUN
fbem-12572	141	8	all	all	PRON
fbem-12572	141	9	validate	validate	VERB
fbem-12572	141	10	the	the	DET
fbem-12572	141	11	theoretical	theoretical	ADJ
fbem-12572	141	12	hypotheses	hypothesis	NOUN
fbem-12572	141	13	,	,	PUNCT
fbem-12572	141	14	indicating	indicate	VERB
fbem-12572	141	15	that	that	SCONJ
fbem-12572	141	16	investor	investor	NOUN
fbem-12572	141	17	sentiment	sentiment	NOUN
fbem-12572	141	18	impacts	impact	VERB
fbem-12572	141	19	corporate	corporate	ADJ
fbem-12572	141	20	investment	investment	NOUN
fbem-12572	141	21	in	in	ADP
fbem-12572	141	22	the	the	DET
fbem-12572	141	23	chinese	chinese	ADJ
fbem-12572	141	24	capital	capital	NOUN
fbem-12572	141	25	market	market	NOUN
fbem-12572	141	26	.	.	PUNCT
fbem-12572	142	1	4.2	4.2	NUM
fbem-12572	142	2	.	.	PUNCT
fbem-12572	143	1	conclusion	conclusion	NOUN
fbem-12572	143	2	4.2.1	4.2.1	NUM
fbem-12572	143	3	.	.	PUNCT
fbem-12572	144	1	research	research	NOUN
fbem-12572	144	2	findings	finding	NOUN
fbem-12572	144	3	and	and	CCONJ
fbem-12572	144	4	shortcomings	shortcoming	NOUN
fbem-12572	144	5	this	this	DET
fbem-12572	144	6	paper	paper	NOUN
fbem-12572	144	7	focuses	focus	VERB
fbem-12572	144	8	on	on	ADP
fbem-12572	144	9	the	the	DET
fbem-12572	144	10	impact	impact	NOUN
fbem-12572	144	11	of	of	ADP
fbem-12572	144	12	investor	investor	NOUN
fbem-12572	144	13	sentiment	sentiment	NOUN
fbem-12572	144	14	on	on	ADP
fbem-12572	144	15	the	the	DET
fbem-12572	144	16	investment	investment	NOUN
fbem-12572	144	17	level	level	NOUN
fbem-12572	144	18	of	of	ADP
fbem-12572	144	19	listed	list	VERB
fbem-12572	144	20	enterprises	enterprise	NOUN
fbem-12572	144	21	,	,	PUNCT
fbem-12572	144	22	firstly	firstly	ADV
fbem-12572	144	23	combing	comb	VERB
fbem-12572	144	24	the	the	DET
fbem-12572	144	25	relevant	relevant	ADJ
fbem-12572	144	26	literature	literature	NOUN
fbem-12572	144	27	about	about	ADP
fbem-12572	144	28	investor	investor	NOUN
fbem-12572	144	29	sentiment	sentiment	NOUN
fbem-12572	144	30	and	and	CCONJ
fbem-12572	144	31	listed	list	VERB
fbem-12572	144	32	companies	company	NOUN
fbem-12572	144	33	'	'	PART
fbem-12572	144	34	investment	investment	NOUN
fbem-12572	144	35	scale	scale	NOUN
fbem-12572	144	36	and	and	CCONJ
fbem-12572	144	37	investment	investment	NOUN
fbem-12572	144	38	efficiency	efficiency	NOUN
fbem-12572	144	39	,	,	PUNCT
fbem-12572	144	40	and	and	CCONJ
fbem-12572	144	41	theoretically	theoretically	ADV
fbem-12572	144	42	discussing	discuss	VERB
fbem-12572	144	43	the	the	DET
fbem-12572	144	44	possible	possible	ADJ
fbem-12572	144	45	relationship	relationship	NOUN
fbem-12572	144	46	between	between	ADP
fbem-12572	144	47	the	the	DET
fbem-12572	144	48	two	two	NUM
fbem-12572	144	49	and	and	CCONJ
fbem-12572	144	50	making	make	VERB
fbem-12572	144	51	research	research	NOUN
fbem-12572	144	52	assumptions	assumption	NOUN
fbem-12572	144	53	,	,	PUNCT
fbem-12572	144	54	that	that	ADV
fbem-12572	144	55	is	is	ADV
fbem-12572	144	56	,	,	PUNCT
fbem-12572	144	57	the	the	DET
fbem-12572	144	58	research	research	NOUN
fbem-12572	144	59	proposition	proposition	NOUN
fbem-12572	144	60	of	of	ADP
fbem-12572	144	61	this	this	DET
fbem-12572	144	62	paper	paper	NOUN
fbem-12572	144	63	;	;	PUNCT
fbem-12572	144	64	secondly	secondly	ADV
fbem-12572	144	65	,	,	PUNCT
fbem-12572	144	66	in	in	ADP
fbem-12572	144	67	order	order	NOUN
fbem-12572	144	68	to	to	PART
fbem-12572	144	69	verify	verify	VERB
fbem-12572	144	70	whether	whether	SCONJ
fbem-12572	144	71	the	the	DET
fbem-12572	144	72	assumptions	assumption	NOUN
fbem-12572	144	73	are	be	AUX
fbem-12572	144	74	valid	valid	ADJ
fbem-12572	144	75	through	through	ADP
fbem-12572	144	76	the	the	DET
fbem-12572	144	77	empirical	empirical	ADJ
fbem-12572	144	78	method	method	NOUN
fbem-12572	144	79	,	,	PUNCT
fbem-12572	144	80	the	the	DET
fbem-12572	144	81	data	datum	NOUN
fbem-12572	144	82	of	of	ADP
fbem-12572	144	83	listed	list	VERB
fbem-12572	144	84	companies	company	NOUN
fbem-12572	144	85	in	in	ADP
fbem-12572	144	86	china	china	PROPN
fbem-12572	144	87	's	's	PART
fbem-12572	144	88	a	a	DET
fbem-12572	144	89	-	-	PUNCT
fbem-12572	144	90	share	share	NOUN
fbem-12572	144	91	market	market	NOUN
fbem-12572	144	92	are	be	AUX
fbem-12572	144	93	134	134	NUM
fbem-12572	144	94	selected	select	VERB
fbem-12572	144	95	for	for	ADP
fbem-12572	144	96	the	the	DET
fbem-12572	144	97	empirical	empirical	ADJ
fbem-12572	144	98	study	study	NOUN
fbem-12572	144	99	.	.	PUNCT
fbem-12572	145	1	the	the	DET
fbem-12572	145	2	final	final	ADJ
fbem-12572	145	3	regression	regression	NOUN
fbem-12572	145	4	results	result	NOUN
fbem-12572	145	5	argue	argue	VERB
fbem-12572	145	6	that	that	SCONJ
fbem-12572	145	7	the	the	DET
fbem-12572	145	8	assumptions	assumption	NOUN
fbem-12572	145	9	are	be	AUX
fbem-12572	145	10	valid	valid	ADJ
fbem-12572	145	11	.	.	PUNCT
fbem-12572	146	1	the	the	DET
fbem-12572	146	2	final	final	ADJ
fbem-12572	146	3	regression	regression	NOUN
fbem-12572	146	4	results	result	NOUN
fbem-12572	146	5	argue	argue	VERB
fbem-12572	146	6	that	that	SCONJ
fbem-12572	146	7	the	the	DET
fbem-12572	146	8	hypothesis	hypothesis	NOUN
fbem-12572	146	9	is	be	AUX
fbem-12572	146	10	valid	valid	ADJ
fbem-12572	146	11	.	.	PUNCT
fbem-12572	147	1	although	although	SCONJ
fbem-12572	147	2	the	the	DET
fbem-12572	147	3	hypotheses	hypothesis	NOUN
fbem-12572	147	4	ultimately	ultimately	ADV
fbem-12572	147	5	proposed	propose	VERB
fbem-12572	147	6	are	be	AUX
fbem-12572	147	7	valid	valid	ADJ
fbem-12572	147	8	,	,	PUNCT
fbem-12572	147	9	there	there	PRON
fbem-12572	147	10	are	be	VERB
fbem-12572	147	11	some	some	DET
fbem-12572	147	12	research	research	NOUN
fbem-12572	147	13	flaws	flaw	NOUN
fbem-12572	147	14	in	in	ADP
fbem-12572	147	15	this	this	DET
fbem-12572	147	16	paper	paper	NOUN
fbem-12572	147	17	people	people	NOUN
fbem-12572	147	18	:	:	PUNCT
fbem-12572	147	19	this	this	DET
fbem-12572	147	20	paper	paper	NOUN
fbem-12572	147	21	fails	fail	VERB
fbem-12572	147	22	to	to	PART
fbem-12572	147	23	achieve	achieve	VERB
fbem-12572	147	24	optimal	optimal	ADJ
fbem-12572	147	25	screening	screening	NOUN
fbem-12572	147	26	for	for	ADP
fbem-12572	147	27	data	data	NOUN
fbem-12572	147	28	selection	selection	NOUN
fbem-12572	147	29	.	.	PUNCT
fbem-12572	148	1	for	for	ADP
fbem-12572	148	2	example	example	NOUN
fbem-12572	148	3	,	,	PUNCT
fbem-12572	148	4	although	although	SCONJ
fbem-12572	148	5	listed	list	VERB
fbem-12572	148	6	companies	company	NOUN
fbem-12572	148	7	with	with	ADP
fbem-12572	148	8	incomplete	incomplete	ADJ
fbem-12572	148	9	financial	financial	ADJ
fbem-12572	148	10	reports	report	NOUN
fbem-12572	148	11	and	and	CCONJ
fbem-12572	148	12	irregular	irregular	ADJ
fbem-12572	148	13	operations	operation	NOUN
fbem-12572	148	14	are	be	AUX
fbem-12572	148	15	excluded	exclude	VERB
fbem-12572	148	16	,	,	PUNCT
fbem-12572	148	17	companies	company	NOUN
fbem-12572	148	18	listed	list	VERB
fbem-12572	148	19	in	in	ADP
fbem-12572	148	20	both	both	CCONJ
fbem-12572	148	21	a	a	DET
fbem-12572	148	22	-	-	PUNCT
fbem-12572	148	23	share	share	NOUN
fbem-12572	148	24	and	and	CCONJ
fbem-12572	148	25	b	b	NOUN
fbem-12572	148	26	-	-	PUNCT
fbem-12572	148	27	share	share	NOUN
fbem-12572	148	28	and	and	CCONJ
fbem-12572	148	29	h	h	NOUN
fbem-12572	148	30	-	-	PUNCT
fbem-12572	148	31	share	share	NOUN
fbem-12572	148	32	are	be	AUX
fbem-12572	148	33	not	not	PART
fbem-12572	148	34	excluded	exclude	VERB
fbem-12572	148	35	because	because	SCONJ
fbem-12572	148	36	the	the	DET
fbem-12572	148	37	stocks	stock	NOUN
fbem-12572	148	38	of	of	ADP
fbem-12572	148	39	these	these	DET
fbem-12572	148	40	listed	list	VERB
fbem-12572	148	41	companies	company	NOUN
fbem-12572	148	42	are	be	AUX
fbem-12572	148	43	affected	affect	VERB
fbem-12572	148	44	by	by	ADP
fbem-12572	148	45	a	a	DET
fbem-12572	148	46	variety	variety	NOUN
fbem-12572	148	47	of	of	ADP
fbem-12572	148	48	market	market	NOUN
fbem-12572	148	49	factors	factor	NOUN
fbem-12572	148	50	;	;	PUNCT
fbem-12572	148	51	although	although	SCONJ
fbem-12572	148	52	this	this	DET
fbem-12572	148	53	paper	paper	NOUN
fbem-12572	148	54	verifies	verifie	NOUN
fbem-12572	148	55	that	that	SCONJ
fbem-12572	148	56	the	the	DET
fbem-12572	148	57	proposition	proposition	NOUN
fbem-12572	148	58	of	of	ADP
fbem-12572	148	59	"	"	PUNCT
fbem-12572	148	60	investor	investor	NOUN
fbem-12572	148	61	sentiment	sentiment	NOUN
fbem-12572	148	62	has	have	VERB
fbem-12572	148	63	an	an	DET
fbem-12572	148	64	impact	impact	NOUN
fbem-12572	148	65	on	on	ADP
fbem-12572	148	66	investment	investment	NOUN
fbem-12572	148	67	in	in	ADP
fbem-12572	148	68	listed	list	VERB
fbem-12572	148	69	enterprises	enterprise	NOUN
fbem-12572	148	70	"	"	PUNCT
fbem-12572	148	71	is	be	AUX
fbem-12572	148	72	valid	valid	ADJ
fbem-12572	148	73	,	,	PUNCT
fbem-12572	148	74	it	it	PRON
fbem-12572	148	75	does	do	AUX
fbem-12572	148	76	not	not	PART
fbem-12572	148	77	further	far	ADV
fbem-12572	148	78	verify	verify	VERB
fbem-12572	148	79	the	the	DET
fbem-12572	148	80	impact	impact	NOUN
fbem-12572	148	81	of	of	ADP
fbem-12572	148	82	investor	investor	NOUN
fbem-12572	148	83	sentiment	sentiment	NOUN
fbem-12572	148	84	on	on	ADP
fbem-12572	148	85	specific	specific	ADJ
fbem-12572	148	86	aspects	aspect	NOUN
fbem-12572	148	87	of	of	ADP
fbem-12572	148	88	corporate	corporate	ADJ
fbem-12572	148	89	investment	investment	NOUN
fbem-12572	148	90	,	,	PUNCT
fbem-12572	148	91	such	such	ADJ
fbem-12572	148	92	as	as	ADP
fbem-12572	148	93	the	the	DET
fbem-12572	148	94	type	type	NOUN
fbem-12572	148	95	of	of	ADP
fbem-12572	148	96	investment	investment	NOUN
fbem-12572	148	97	,	,	PUNCT
fbem-12572	148	98	investment	investment	NOUN
fbem-12572	148	99	efficiency	efficiency	NOUN
fbem-12572	148	100	,	,	PUNCT
fbem-12572	148	101	and	and	CCONJ
fbem-12572	148	102	specific	specific	ADJ
fbem-12572	148	103	segmentation	segmentation	NOUN
fbem-12572	148	104	of	of	ADP
fbem-12572	148	105	listed	list	VERB
fbem-12572	148	106	enterprises	enterprise	NOUN
fbem-12572	148	107	,	,	PUNCT
fbem-12572	148	108	so	so	CCONJ
fbem-12572	148	109	there	there	PRON
fbem-12572	148	110	is	be	VERB
fbem-12572	148	111	still	still	ADV
fbem-12572	148	112	much	much	ADJ
fbem-12572	148	113	room	room	NOUN
fbem-12572	148	114	for	for	ADP
fbem-12572	148	115	research	research	NOUN
fbem-12572	148	116	on	on	ADP
fbem-12572	148	117	the	the	DET
fbem-12572	148	118	emerging	emerge	VERB
fbem-12572	148	119	behavioral	behavioral	ADJ
fbem-12572	148	120	finance	finance	NOUN
fbem-12572	148	121	based	base	VERB
fbem-12572	148	122	on	on	ADP
fbem-12572	148	123	the	the	DET
fbem-12572	148	124	theories	theory	NOUN
fbem-12572	148	125	in	in	ADP
fbem-12572	148	126	this	this	DET
fbem-12572	148	127	paper	paper	NOUN
fbem-12572	148	128	.	.	PUNCT
fbem-12572	149	1	so	so	ADV
fbem-12572	149	2	,	,	PUNCT
fbem-12572	149	3	for	for	ADP
fbem-12572	149	4	the	the	DET
fbem-12572	149	5	emerging	emerge	VERB
fbem-12572	149	6	behavioral	behavioral	ADJ
fbem-12572	149	7	finance	finance	NOUN
fbem-12572	149	8	based	base	VERB
fbem-12572	149	9	on	on	ADP
fbem-12572	149	10	the	the	DET
fbem-12572	149	11	theory	theory	NOUN
fbem-12572	149	12	of	of	ADP
fbem-12572	149	13	this	this	DET
fbem-12572	149	14	paper	paper	NOUN
fbem-12572	149	15	,	,	PUNCT
fbem-12572	149	16	there	there	PRON
fbem-12572	149	17	is	be	VERB
fbem-12572	149	18	still	still	ADV
fbem-12572	149	19	a	a	DET
fbem-12572	149	20	lot	lot	NOUN
fbem-12572	149	21	of	of	ADP
fbem-12572	149	22	research	research	NOUN
fbem-12572	149	23	space	space	NOUN
fbem-12572	149	24	.	.	PUNCT
fbem-12572	150	1	4.2.2	4.2.2	X
fbem-12572	150	2	.	.	PUNCT
fbem-12572	151	1	recommendations	recommendation	NOUN
fbem-12572	151	2	of	of	ADP
fbem-12572	151	3	this	this	DET
fbem-12572	151	4	paper	paper	NOUN
fbem-12572	151	5	based	base	VERB
fbem-12572	151	6	on	on	ADP
fbem-12572	151	7	the	the	DET
fbem-12572	151	8	above	above	ADJ
fbem-12572	151	9	research	research	NOUN
fbem-12572	151	10	,	,	PUNCT
fbem-12572	151	11	this	this	DET
fbem-12572	151	12	paper	paper	NOUN
fbem-12572	151	13	gives	give	VERB
fbem-12572	151	14	a	a	DET
fbem-12572	151	15	few	few	ADJ
fbem-12572	151	16	suggestions	suggestion	NOUN
fbem-12572	151	17	:	:	PUNCT
fbem-12572	151	18	investors	investor	NOUN
fbem-12572	151	19	,	,	PUNCT
fbem-12572	151	20	before	before	ADP
fbem-12572	151	21	participating	participate	VERB
fbem-12572	151	22	in	in	ADP
fbem-12572	151	23	the	the	DET
fbem-12572	151	24	investment	investment	NOUN
fbem-12572	151	25	,	,	PUNCT
fbem-12572	151	26	should	should	AUX
fbem-12572	151	27	have	have	VERB
fbem-12572	151	28	a	a	DET
fbem-12572	151	29	certain	certain	ADJ
fbem-12572	151	30	degree	degree	NOUN
fbem-12572	151	31	of	of	ADP
fbem-12572	151	32	financial	financial	ADJ
fbem-12572	151	33	expertise	expertise	NOUN
fbem-12572	151	34	to	to	PART
fbem-12572	151	35	learn	learn	VERB
fbem-12572	151	36	to	to	PART
fbem-12572	151	37	understand	understand	VERB
fbem-12572	151	38	,	,	PUNCT
fbem-12572	151	39	objectively	objectively	ADV
fbem-12572	151	40	,	,	PUNCT
fbem-12572	151	41	and	and	CCONJ
fbem-12572	151	42	rationally	rationally	ADV
fbem-12572	151	43	look	look	VERB
fbem-12572	151	44	at	at	ADP
fbem-12572	151	45	the	the	DET
fbem-12572	151	46	market	market	NOUN
fbem-12572	151	47	according	accord	VERB
fbem-12572	151	48	to	to	ADP
fbem-12572	151	49	their	their	PRON
fbem-12572	151	50	assets	asset	NOUN
fbem-12572	151	51	to	to	PART
fbem-12572	151	52	identify	identify	VERB
fbem-12572	151	53	their	their	PRON
fbem-12572	151	54	risk	risk	NOUN
fbem-12572	151	55	tolerance	tolerance	NOUN
fbem-12572	151	56	,	,	PUNCT
fbem-12572	151	57	do	do	AUX
fbem-12572	151	58	not	not	PART
fbem-12572	151	59	deliberately	deliberately	ADV
fbem-12572	151	60	pursue	pursue	VERB
fbem-12572	151	61	"	"	PUNCT
fbem-12572	151	62	fast	fast	ADJ
fbem-12572	151	63	money	money	NOUN
fbem-12572	151	64	,	,	PUNCT
fbem-12572	151	65	"	"	PUNCT
fbem-12572	151	66	know	know	VERB
fbem-12572	151	67	the	the	DET
fbem-12572	151	68	risks	risk	NOUN
fbem-12572	151	69	and	and	CCONJ
fbem-12572	151	70	benefits	benefit	NOUN
fbem-12572	151	71	at	at	ADP
fbem-12572	151	72	the	the	DET
fbem-12572	151	73	same	same	ADJ
fbem-12572	151	74	time	time	NOUN
fbem-12572	151	75	the	the	DET
fbem-12572	151	76	truth	truth	NOUN
fbem-12572	151	77	.	.	PUNCT
fbem-12572	152	1	colleagues	colleague	NOUN
fbem-12572	152	2	should	should	AUX
fbem-12572	152	3	keep	keep	VERB
fbem-12572	152	4	a	a	DET
fbem-12572	152	5	"	"	PUNCT
fbem-12572	152	6	normal	normal	ADJ
fbem-12572	152	7	mind	mind	NOUN
fbem-12572	152	8	,	,	PUNCT
fbem-12572	152	9	"	"	PUNCT
fbem-12572	152	10	not	not	PART
fbem-12572	152	11	mindlessly	mindlessly	ADV
fbem-12572	152	12	follow	follow	VERB
fbem-12572	152	13	the	the	DET
fbem-12572	152	14	investment	investment	NOUN
fbem-12572	152	15	trend	trend	NOUN
fbem-12572	152	16	,	,	PUNCT
fbem-12572	152	17	comply	comply	VERB
fbem-12572	152	18	with	with	ADP
fbem-12572	152	19	market	market	NOUN
fbem-12572	152	20	laws	law	NOUN
fbem-12572	152	21	and	and	CCONJ
fbem-12572	152	22	regulations	regulation	NOUN
fbem-12572	152	23	,	,	PUNCT
fbem-12572	152	24	and	and	CCONJ
fbem-12572	152	25	invest	invest	VERB
fbem-12572	152	26	cautiously	cautiously	ADV
fbem-12572	152	27	.	.	PUNCT
fbem-12572	153	1	for	for	ADP
fbem-12572	153	2	listed	list	VERB
fbem-12572	153	3	companies	company	NOUN
fbem-12572	153	4	,	,	PUNCT
fbem-12572	153	5	this	this	DET
fbem-12572	153	6	paper	paper	NOUN
fbem-12572	153	7	on	on	ADP
fbem-12572	153	8	investor	investor	NOUN
fbem-12572	153	9	sentiment	sentiment	NOUN
fbem-12572	153	10	has	have	VERB
fbem-12572	153	11	an	an	DET
fbem-12572	153	12	impact	impact	NOUN
fbem-12572	153	13	on	on	ADP
fbem-12572	153	14	its	its	PRON
fbem-12572	153	15	argument	argument	NOUN
fbem-12572	153	16	;	;	PUNCT
fbem-12572	153	17	when	when	SCONJ
fbem-12572	153	18	investor	investor	NOUN
fbem-12572	153	19	sentiment	sentiment	NOUN
fbem-12572	153	20	rises	rise	VERB
fbem-12572	153	21	,	,	PUNCT
fbem-12572	153	22	listed	list	VERB
fbem-12572	153	23	companies	company	NOUN
fbem-12572	153	24	will	will	AUX
fbem-12572	153	25	increase	increase	VERB
fbem-12572	153	26	the	the	DET
fbem-12572	153	27	scale	scale	NOUN
fbem-12572	153	28	of	of	ADP
fbem-12572	153	29	investment	investment	NOUN
fbem-12572	153	30	;	;	PUNCT
fbem-12572	153	31	on	on	ADP
fbem-12572	153	32	the	the	DET
fbem-12572	153	33	contrary	contrary	NOUN
fbem-12572	153	34	,	,	PUNCT
fbem-12572	153	35	it	it	PRON
fbem-12572	153	36	will	will	AUX
fbem-12572	153	37	reduce	reduce	VERB
fbem-12572	153	38	the	the	DET
fbem-12572	153	39	scale	scale	NOUN
fbem-12572	153	40	of	of	ADP
fbem-12572	153	41	investment	investment	NOUN
fbem-12572	153	42	,	,	PUNCT
fbem-12572	153	43	which	which	PRON
fbem-12572	153	44	for	for	ADP
fbem-12572	153	45	listed	list	VERB
fbem-12572	153	46	companies	company	NOUN
fbem-12572	153	47	on	on	ADP
fbem-12572	153	48	its	its	PRON
fbem-12572	153	49	future	future	ADJ
fbem-12572	153	50	development	development	NOUN
fbem-12572	153	51	is	be	AUX
fbem-12572	153	52	prone	prone	ADJ
fbem-12572	153	53	to	to	PART
fbem-12572	153	54	have	have	VERB
fbem-12572	153	55	a	a	DET
fbem-12572	153	56	negative	negative	ADJ
fbem-12572	153	57	impact	impact	NOUN
fbem-12572	153	58	.	.	PUNCT
fbem-12572	154	1	firstly	firstly	ADV
fbem-12572	154	2	,	,	PUNCT
fbem-12572	154	3	listed	list	VERB
fbem-12572	154	4	companies	company	NOUN
fbem-12572	154	5	should	should	AUX
fbem-12572	154	6	make	make	VERB
fbem-12572	154	7	reasonable	reasonable	ADJ
fbem-12572	154	8	investment	investment	NOUN
fbem-12572	154	9	decisions	decision	NOUN
fbem-12572	154	10	,	,	PUNCT
fbem-12572	154	11	develop	develop	VERB
fbem-12572	154	12	systematic	systematic	ADJ
fbem-12572	154	13	investment	investment	NOUN
fbem-12572	154	14	behavior	behavior	NOUN
fbem-12572	154	15	within	within	ADP
fbem-12572	154	16	the	the	DET
fbem-12572	154	17	enterprise	enterprise	NOUN
fbem-12572	154	18	to	to	PART
fbem-12572	154	19	implement	implement	VERB
fbem-12572	154	20	the	the	DET
fbem-12572	154	21	process	process	NOUN
fbem-12572	154	22	,	,	PUNCT
fbem-12572	154	23	and	and	CCONJ
fbem-12572	154	24	not	not	PART
fbem-12572	154	25	unthinkingly	unthinkingly	ADV
fbem-12572	154	26	follow	follow	VERB
fbem-12572	154	27	the	the	DET
fbem-12572	154	28	wind	wind	NOUN
fbem-12572	154	29	investment	investment	NOUN
fbem-12572	154	30	.	.	PUNCT
fbem-12572	155	1	investment	investment	NOUN
fbem-12572	155	2	needs	need	VERB
fbem-12572	155	3	to	to	PART
fbem-12572	155	4	be	be	AUX
fbem-12572	155	5	a	a	DET
fbem-12572	155	6	long	long	ADJ
fbem-12572	155	7	-	-	PUNCT
fbem-12572	155	8	term	term	NOUN
fbem-12572	155	9	vision	vision	NOUN
fbem-12572	155	10	,	,	PUNCT
fbem-12572	155	11	not	not	PART
fbem-12572	155	12	stick	stick	VERB
fbem-12572	155	13	to	to	PART
fbem-12572	155	14	shortterm	shortterm	VERB
fbem-12572	155	15	interests	interest	NOUN
fbem-12572	155	16	but	but	CCONJ
fbem-12572	155	17	pay	pay	VERB
fbem-12572	155	18	more	more	ADJ
fbem-12572	155	19	attention	attention	NOUN
fbem-12572	155	20	to	to	ADP
fbem-12572	155	21	the	the	DET
fbem-12572	155	22	long	long	ADJ
fbem-12572	155	23	-	-	PUNCT
fbem-12572	155	24	term	term	NOUN
fbem-12572	155	25	interests	interest	NOUN
fbem-12572	155	26	of	of	ADP
fbem-12572	155	27	the	the	DET
fbem-12572	155	28	enterprise	enterprise	NOUN
fbem-12572	155	29	.	.	PUNCT
fbem-12572	156	1	secondly	secondly	ADV
fbem-12572	156	2	,	,	PUNCT
fbem-12572	156	3	listed	list	VERB
fbem-12572	156	4	companies	company	NOUN
fbem-12572	156	5	should	should	AUX
fbem-12572	156	6	be	be	AUX
fbem-12572	156	7	certified	certify	VERB
fbem-12572	156	8	to	to	PART
fbem-12572	156	9	review	review	VERB
fbem-12572	156	10	the	the	DET
fbem-12572	156	11	investment	investment	NOUN
fbem-12572	156	12	analysis	analysis	NOUN
fbem-12572	156	13	results	result	NOUN
fbem-12572	156	14	of	of	ADP
fbem-12572	156	15	their	their	PRON
fbem-12572	156	16	investment	investment	NOUN
fbem-12572	156	17	strengths	strength	NOUN
fbem-12572	156	18	and	and	CCONJ
fbem-12572	156	19	weaknesses	weakness	NOUN
fbem-12572	156	20	to	to	PART
fbem-12572	156	21	improve	improve	VERB
fbem-12572	156	22	the	the	DET
fbem-12572	156	23	efficiency	efficiency	NOUN
fbem-12572	156	24	of	of	ADP
fbem-12572	156	25	the	the	DET
fbem-12572	156	26	new	new	ADJ
fbem-12572	156	27	investment	investment	NOUN
fbem-12572	156	28	.	.	PUNCT
fbem-12572	157	1	finally	finally	ADV
fbem-12572	157	2	,	,	PUNCT
fbem-12572	157	3	the	the	DET
fbem-12572	157	4	enterprise	enterprise	NOUN
fbem-12572	157	5	should	should	AUX
fbem-12572	157	6	have	have	VERB
fbem-12572	157	7	the	the	DET
fbem-12572	157	8	correct	correct	ADJ
fbem-12572	157	9	guidance	guidance	NOUN
fbem-12572	157	10	role	role	NOUN
fbem-12572	157	11	of	of	ADP
fbem-12572	157	12	investor	investor	NOUN
fbem-12572	157	13	investment	investment	NOUN
fbem-12572	157	14	and	and	CCONJ
fbem-12572	157	15	try	try	VERB
fbem-12572	157	16	to	to	PART
fbem-12572	157	17	increase	increase	VERB
fbem-12572	157	18	the	the	DET
fbem-12572	157	19	market	market	NOUN
fbem-12572	157	20	share	share	NOUN
fbem-12572	157	21	of	of	ADP
fbem-12572	157	22	the	the	DET
fbem-12572	157	23	investment	investment	NOUN
fbem-12572	157	24	.	.	PUNCT
fbem-12572	158	1	lastly	lastly	ADV
fbem-12572	158	2	,	,	PUNCT
fbem-12572	158	3	enterprises	enterprise	NOUN
fbem-12572	158	4	should	should	AUX
fbem-12572	158	5	have	have	VERB
fbem-12572	158	6	the	the	DET
fbem-12572	158	7	proper	proper	ADJ
fbem-12572	158	8	guidance	guidance	NOUN
fbem-12572	158	9	to	to	PART
fbem-12572	158	10	increase	increase	VERB
fbem-12572	158	11	the	the	DET
fbem-12572	158	12	transparency	transparency	NOUN
fbem-12572	158	13	of	of	ADP
fbem-12572	158	14	market	market	NOUN
fbem-12572	158	15	information	information	NOUN
fbem-12572	158	16	as	as	ADV
fbem-12572	158	17	much	much	ADV
fbem-12572	158	18	as	as	ADP
fbem-12572	158	19	possible	possible	ADJ
fbem-12572	158	20	.	.	PUNCT
fbem-12572	159	1	the	the	DET
fbem-12572	159	2	market	market	NOUN
fbem-12572	159	3	regulators	regulator	NOUN
fbem-12572	159	4	should	should	AUX
fbem-12572	159	5	improve	improve	VERB
fbem-12572	159	6	and	and	CCONJ
fbem-12572	159	7	perfect	perfect	VERB
fbem-12572	159	8	the	the	DET
fbem-12572	159	9	market	market	NOUN
fbem-12572	159	10	-	-	PUNCT
fbem-12572	159	11	related	relate	VERB
fbem-12572	159	12	system	system	NOUN
fbem-12572	159	13	for	for	ADP
fbem-12572	159	14	stock	stock	NOUN
fbem-12572	159	15	issuance	issuance	NOUN
fbem-12572	159	16	and	and	CCONJ
fbem-12572	159	17	investment	investment	NOUN
fbem-12572	159	18	,	,	PUNCT
fbem-12572	159	19	and	and	CCONJ
fbem-12572	159	20	effectively	effectively	ADV
fbem-12572	159	21	supervise	supervise	VERB
fbem-12572	159	22	the	the	DET
fbem-12572	159	23	market	market	NOUN
fbem-12572	159	24	;	;	PUNCT
fbem-12572	159	25	give	give	VERB
fbem-12572	159	26	correct	correct	ADJ
fbem-12572	159	27	investment	investment	NOUN
fbem-12572	159	28	guidance	guidance	NOUN
fbem-12572	159	29	to	to	ADP
fbem-12572	159	30	investors	investor	NOUN
fbem-12572	159	31	,	,	PUNCT
fbem-12572	159	32	strengthen	strengthen	VERB
fbem-12572	159	33	the	the	DET
fbem-12572	159	34	protection	protection	NOUN
fbem-12572	159	35	of	of	ADP
fbem-12572	159	36	investors	investor	NOUN
fbem-12572	159	37	,	,	PUNCT
fbem-12572	159	38	and	and	CCONJ
fbem-12572	159	39	enhance	enhance	VERB
fbem-12572	159	40	the	the	DET
fbem-12572	159	41	transparency	transparency	NOUN
fbem-12572	159	42	of	of	ADP
fbem-12572	159	43	market	market	NOUN
fbem-12572	159	44	information	information	NOUN
fbem-12572	159	45	;	;	PUNCT
fbem-12572	159	46	provide	provide	VERB
fbem-12572	159	47	correct	correct	ADJ
fbem-12572	159	48	and	and	CCONJ
fbem-12572	159	49	adequate	adequate	ADJ
fbem-12572	159	50	supervision	supervision	NOUN
fbem-12572	159	51	and	and	CCONJ
fbem-12572	159	52	guidance	guidance	NOUN
fbem-12572	159	53	to	to	ADP
fbem-12572	159	54	listed	list	VERB
fbem-12572	159	55	companies	company	NOUN
fbem-12572	159	56	in	in	ADP
fbem-12572	159	57	their	their	PRON
fbem-12572	159	58	investment	investment	NOUN
fbem-12572	159	59	behaviors	behavior	NOUN
fbem-12572	159	60	,	,	PUNCT
fbem-12572	159	61	and	and	CCONJ
fbem-12572	159	62	combine	combine	VERB
fbem-12572	159	63	them	they	PRON
fbem-12572	159	64	with	with	ADP
fbem-12572	159	65	the	the	DET
fbem-12572	159	66	potential	potential	ADJ
fbem-12572	159	67	industries	industry	NOUN
fbem-12572	159	68	of	of	ADP
fbem-12572	159	69	the	the	DET
fbem-12572	159	70	country	country	NOUN
fbem-12572	159	71	,	,	PUNCT
fbem-12572	159	72	and	and	CCONJ
fbem-12572	159	73	guide	guide	VERB
fbem-12572	159	74	them	they	PRON
fbem-12572	159	75	to	to	PART
fbem-12572	159	76	invest	invest	VERB
fbem-12572	159	77	in	in	ADP
fbem-12572	159	78	the	the	DET
fbem-12572	159	79	industries	industry	NOUN
fbem-12572	159	80	that	that	PRON
fbem-12572	159	81	are	be	AUX
fbem-12572	159	82	in	in	ADP
fbem-12572	159	83	line	line	NOUN
fbem-12572	159	84	with	with	ADP
fbem-12572	159	85	the	the	DET
fbem-12572	159	86	interests	interest	NOUN
fbem-12572	159	87	of	of	ADP
fbem-12572	159	88	the	the	DET
fbem-12572	159	89	country	country	NOUN
fbem-12572	159	90	and	and	CCONJ
fbem-12572	159	91	the	the	DET
fbem-12572	159	92	people	people	NOUN
fbem-12572	159	93	.	.	PUNCT
fbem-12572	160	1	improve	improve	VERB
fbem-12572	160	2	investment	investment	NOUN
fbem-12572	160	3	efficiency	efficiency	NOUN
fbem-12572	160	4	and	and	CCONJ
fbem-12572	160	5	enhance	enhance	VERB
fbem-12572	160	6	the	the	DET
fbem-12572	160	7	efficiency	efficiency	NOUN
fbem-12572	160	8	of	of	ADP
fbem-12572	160	9	resource	resource	NOUN
fbem-12572	160	10	allocation	allocation	NOUN
fbem-12572	160	11	for	for	ADP
fbem-12572	160	12	the	the	DET
fbem-12572	160	13	whole	whole	ADJ
fbem-12572	160	14	society	society	NOUN
fbem-12572	160	15	.	.	PUNCT
fbem-12572	161	1	references	reference	NOUN
fbem-12572	161	2	[	[	X
fbem-12572	161	3	1	1	X
fbem-12572	161	4	]	]	PUNCT
fbem-12572	161	5	wang	wang	PROPN
fbem-12572	161	6	fei	fei	PROPN
fbem-12572	161	7	.	.	PUNCT
fbem-12572	162	1	analysis	analysis	NOUN
fbem-12572	162	2	of	of	ADP
fbem-12572	162	3	the	the	DET
fbem-12572	162	4	impact	impact	NOUN
fbem-12572	162	5	of	of	ADP
fbem-12572	162	6	investor	investor	NOUN
fbem-12572	162	7	sentiment	sentiment	NOUN
fbem-12572	162	8	on	on	ADP
fbem-12572	162	9	the	the	DET
fbem-12572	162	10	investment	investment	NOUN
fbem-12572	162	11	behavior	behavior	NOUN
fbem-12572	162	12	of	of	ADP
fbem-12572	162	13	listed	list	VERB
fbem-12572	162	14	companies	company	NOUN
fbem-12572	162	15	[	[	X
fbem-12572	162	16	d	d	X
fbem-12572	162	17	]	]	X
fbem-12572	162	18	.	.	PUNCT
fbem-12572	163	1	inner	inner	PROPN
fbem-12572	163	2	mongolia	mongolia	PROPN
fbem-12572	163	3	:	:	PUNCT
fbem-12572	163	4	inner	inner	PROPN
fbem-12572	163	5	mongolia	mongolia	PROPN
fbem-12572	163	6	university	university	PROPN
fbem-12572	163	7	,	,	PUNCT
fbem-12572	163	8	2017	2017	NUM
fbem-12572	163	9	.	.	PUNCT
fbem-12572	164	1	[	[	X
fbem-12572	164	2	2	2	NUM
fbem-12572	164	3	]	]	X
fbem-12572	164	4	zhang	zhang	PROPN
fbem-12572	164	5	yue	yue	PROPN
fbem-12572	164	6	.	.	PUNCT
fbem-12572	164	7	research	research	NOUN
fbem-12572	164	8	on	on	ADP
fbem-12572	164	9	investor	investor	NOUN
fbem-12572	164	10	sentiment	sentiment	NOUN
fbem-12572	164	11	and	and	CCONJ
fbem-12572	164	12	investment	investment	NOUN
fbem-12572	164	13	behavior	behavior	NOUN
fbem-12572	164	14	of	of	ADP
fbem-12572	164	15	listed	list	VERB
fbem-12572	164	16	companies[j	companies[j	NOUN
fbem-12572	164	17	]	]	PUNCT
fbem-12572	164	18	.	.	PUNCT
fbem-12572	165	1	china	china	PROPN
fbem-12572	165	2	business	business	PROPN
fbem-12572	165	3	journal	journal	PROPN
fbem-12572	165	4	:	:	PUNCT
fbem-12572	165	5	the	the	DET
fbem-12572	165	6	university	university	NOUN
fbem-12572	165	7	of	of	ADP
fbem-12572	165	8	glasgow	glasgow	PROPN
fbem-12572	165	9	,	,	PUNCT
fbem-12572	165	10	2021	2021	NUM
fbem-12572	165	11	.	.	PUNCT
fbem-12572	166	1	[	[	X
fbem-12572	166	2	3	3	X
fbem-12572	166	3	]	]	X
fbem-12572	166	4	chen	chen	PROPN
fbem-12572	166	5	h.	h.	PROPN
fbem-12572	166	6	a	a	DET
fbem-12572	166	7	review	review	NOUN
fbem-12572	166	8	of	of	ADP
fbem-12572	166	9	behavioural	behavioural	ADJ
fbem-12572	166	10	finance	finance	NOUN
fbem-12572	166	11	research	research	NOUN
fbem-12572	166	12	behavioural	behavioural	ADJ
fbem-12572	166	13	finance	finance	NOUN
fbem-12572	166	14	's	's	PART
fbem-12572	166	15	abandonment	abandonment	NOUN
fbem-12572	166	16	of	of	ADP
fbem-12572	166	17	traditional	traditional	ADJ
fbem-12572	166	18	finance[j	finance[j	NOUN
fbem-12572	166	19	]	]	PUNCT
fbem-12572	166	20	.	.	PUNCT
fbem-12572	167	1	economics	economic	NOUN
fbem-12572	167	2	of	of	ADP
fbem-12572	167	3	economy	economy	NOUN
fbem-12572	167	4	:	:	PUNCT
fbem-12572	167	5	peking	peking	PROPN
fbem-12572	167	6	university	university	NOUN
fbem-12572	167	7	,	,	PUNCT
fbem-12572	167	8	2005	2005	NUM
fbem-12572	167	9	.	.	PUNCT
fbem-12572	168	1	[	[	X
fbem-12572	168	2	4	4	X
fbem-12572	168	3	]	]	X
fbem-12572	168	4	zhang	zhang	PROPN
fbem-12572	168	5	x.	x.	PROPN
fbem-12572	168	6	research	research	PROPN
fbem-12572	168	7	on	on	ADP
fbem-12572	168	8	the	the	DET
fbem-12572	168	9	shadow	shadow	NOUN
fbem-12572	168	10	of	of	ADP
fbem-12572	168	11	stock	stock	NOUN
fbem-12572	168	12	market	market	NOUN
fbem-12572	168	13	investor	investor	NOUN
fbem-12572	168	14	sentiment	sentiment	NOUN
fbem-12572	168	15	on	on	ADP
fbem-12572	168	16	the	the	DET
fbem-12572	168	17	investment	investment	NOUN
fbem-12572	168	18	behaviour	behaviour	NOUN
fbem-12572	168	19	of	of	ADP
fbem-12572	168	20	listed	list	VERB
fbem-12572	168	21	companies	company	NOUN
fbem-12572	168	22	[	[	X
fbem-12572	168	23	d	d	X
fbem-12572	168	24	]	]	X
fbem-12572	168	25	.	.	PUNCT
fbem-12572	169	1	heilongjiang	heilongjiang	PROPN
fbem-12572	169	2	:	:	PUNCT
fbem-12572	169	3	harbin	harbin	PROPN
fbem-12572	169	4	university	university	PROPN
fbem-12572	169	5	of	of	ADP
fbem-12572	169	6	commerce	commerce	PROPN
fbem-12572	169	7	,	,	PUNCT
fbem-12572	169	8	2017	2017	NUM
fbem-12572	169	9	.	.	PUNCT
fbem-12572	170	1	[	[	X
fbem-12572	170	2	5	5	X
fbem-12572	170	3	]	]	X
fbem-12572	170	4	chen	chen	PROPN
fbem-12572	170	5	ri	ri	PROPN
fbem-12572	170	6	-	-	PUNCT
fbem-12572	170	7	qing	qing	NOUN
fbem-12572	170	8	.	.	PUNCT
fbem-12572	171	1	a	a	DET
fbem-12572	171	2	comparative	comparative	ADJ
fbem-12572	171	3	study	study	NOUN
fbem-12572	171	4	of	of	ADP
fbem-12572	171	5	overconfidence	overconfidence	NOUN
fbem-12572	171	6	behaviour	behaviour	NOUN
fbem-12572	171	7	of	of	ADP
fbem-12572	171	8	institutional	institutional	ADJ
fbem-12572	171	9	investors	investor	NOUN
fbem-12572	171	10	and	and	CCONJ
fbem-12572	171	11	individual	individual	ADJ
fbem-12572	171	12	investors[j	investors[j	PROPN
fbem-12572	171	13	]	]	PUNCT
fbem-12572	171	14	.	.	PUNCT
fbem-12572	172	1	investment	investment	NOUN
fbem-12572	172	2	research	research	NOUN
fbem-12572	172	3	,	,	PUNCT
fbem-12572	172	4	2011	2011	NUM
fbem-12572	172	5	.	.	PUNCT
fbem-12572	173	1	[	[	X
fbem-12572	173	2	6	6	NUM
fbem-12572	173	3	]	]	PUNCT
fbem-12572	173	4	tao	tao	PROPN
fbem-12572	173	5	xinlin	xinlin	PROPN
fbem-12572	173	6	.	.	PUNCT
fbem-12572	174	1	a	a	DET
fbem-12572	174	2	study	study	NOUN
fbem-12572	174	3	on	on	ADP
fbem-12572	174	4	the	the	DET
fbem-12572	174	5	relationship	relationship	NOUN
fbem-12572	174	6	between	between	ADP
fbem-12572	174	7	individual	individual	ADJ
fbem-12572	174	8	investor	investor	NOUN
fbem-12572	174	9	personality	personality	NOUN
fbem-12572	174	10	types	type	NOUN
fbem-12572	174	11	and	and	CCONJ
fbem-12572	174	12	irrational	irrational	ADJ
fbem-12572	174	13	investment	investment	NOUN
fbem-12572	174	14	behavior	behavior	NOUN
fbem-12572	175	1	[	[	X
fbem-12572	175	2	j	j	X
fbem-12572	175	3	]	]	X
fbem-12572	175	4	.	.	PUNCT
fbem-12572	176	1	financial	financial	ADJ
fbem-12572	176	2	perspectives	perspective	NOUN
fbem-12572	176	3	:	:	PUNCT
fbem-12572	176	4	faculty	faculty	NOUN
fbem-12572	176	5	of	of	ADP
fbem-12572	176	6	business	business	PROPN
fbem-12572	176	7	administration	administration	PROPN
fbem-12572	176	8	,	,	PUNCT
fbem-12572	176	9	university	university	PROPN
fbem-12572	176	10	of	of	ADP
fbem-12572	176	11	gloria	gloria	PROPN
fbem-12572	176	12	,	,	PUNCT
fbem-12572	176	13	2021	2021	NUM
fbem-12572	176	14	.	.	PUNCT
fbem-12572	177	1	[	[	X
fbem-12572	177	2	7	7	X
fbem-12572	177	3	]	]	X
fbem-12572	177	4	hua	hua	PROPN
fbem-12572	177	5	guiru	guiru	PROPN
fbem-12572	177	6	,	,	PUNCT
fbem-12572	177	7	liu	liu	PROPN
fbem-12572	177	8	zhiyuan	zhiyuan	PROPN
fbem-12572	177	9	,	,	PUNCT
fbem-12572	177	10	xu	xu	PROPN
fbem-12572	177	11	qian	qian	PROPN
fbem-12572	177	12	.	.	PUNCT
fbem-12572	178	1	investor	investor	NOUN
fbem-12572	178	2	sentiment	sentiment	NOUN
fbem-12572	178	3	,	,	PUNCT
fbem-12572	178	4	corporate	corporate	ADJ
fbem-12572	178	5	investment	investment	NOUN
fbem-12572	178	6	behavior	behavior	NOUN
fbem-12572	178	7	and	and	CCONJ
fbem-12572	178	8	resource	resource	NOUN
fbem-12572	178	9	allocation	allocation	NOUN
fbem-12572	178	10	efficiency[j	efficiency[j	PROPN
fbem-12572	178	11	]	]	PUNCT
fbem-12572	178	12	.	.	PUNCT
fbem-12572	179	1	accounting	accounting	NOUN
fbem-12572	179	2	research	research	NOUN
fbem-12572	179	3	,	,	PUNCT
fbem-12572	179	4	2010	2010	NUM
fbem-12572	179	5	.	.	PUNCT
fbem-12572	180	1	[	[	X
fbem-12572	180	2	8	8	NUM
fbem-12572	180	3	]	]	X
fbem-12572	180	4	hua	hua	PROPN
fbem-12572	180	5	guiru	guiru	PROPN
fbem-12572	180	6	.	.	PUNCT
fbem-12572	181	1	research	research	NOUN
fbem-12572	181	2	on	on	ADP
fbem-12572	181	3	the	the	DET
fbem-12572	181	4	impact	impact	NOUN
fbem-12572	181	5	of	of	ADP
fbem-12572	181	6	investor	investor	NOUN
fbem-12572	181	7	sentiment	sentiment	NOUN
fbem-12572	181	8	on	on	ADP
fbem-12572	181	9	corporate	corporate	ADJ
fbem-12572	181	10	investment	investment	NOUN
fbem-12572	181	11	behavior	behavior	NOUN
fbem-12572	182	1	[	[	X
fbem-12572	182	2	m	m	X
fbem-12572	182	3	]	]	X
fbem-12572	182	4	.	.	PUNCT
fbem-12572	183	1	dalian	dalian	PROPN
fbem-12572	183	2	:	:	PUNCT
fbem-12572	183	3	northeast	northeast	ADJ
fbem-12572	183	4	university	university	NOUN
fbem-12572	183	5	of	of	ADP
fbem-12572	183	6	finance	finance	NOUN
fbem-12572	183	7	and	and	CCONJ
fbem-12572	183	8	economics	economic	NOUN
fbem-12572	183	9	press,2015	press,2015	NOUN
fbem-12572	183	10	.	.	PUNCT
fbem-12572	184	1	[	[	X
fbem-12572	184	2	9	9	NUM
fbem-12572	184	3	]	]	PUNCT
fbem-12572	184	4	wang	wang	PROPN
fbem-12572	184	5	yujiao	yujiao	PROPN
fbem-12572	184	6	.	.	PUNCT
fbem-12572	185	1	the	the	DET
fbem-12572	185	2	impact	impact	NOUN
fbem-12572	185	3	of	of	ADP
fbem-12572	185	4	investor	investor	NOUN
fbem-12572	185	5	sentiment	sentiment	NOUN
fbem-12572	185	6	on	on	ADP
fbem-12572	185	7	investment	investment	NOUN
fbem-12572	185	8	behavior	behavior	NOUN
fbem-12572	185	9	and	and	CCONJ
fbem-12572	185	10	investment	investment	NOUN
fbem-12572	185	11	efficiency	efficiency	NOUN
fbem-12572	185	12	of	of	ADP
fbem-12572	185	13	listed	list	VERB
fbem-12572	185	14	companies[d	companies[d	PROPN
fbem-12572	185	15	]	]	PUNCT
fbem-12572	185	16	.	.	PUNCT
fbem-12572	186	1	dalian	dalian	PROPN
fbem-12572	186	2	:	:	PUNCT
fbem-12572	186	3	northeast	northeast	ADJ
fbem-12572	186	4	university	university	NOUN
fbem-12572	186	5	of	of	ADP
fbem-12572	186	6	finance	finance	NOUN
fbem-12572	186	7	and	and	CCONJ
fbem-12572	186	8	economics,2016	economics,2016	PROPN
fbem-12572	187	1	[	[	X
fbem-12572	187	2	10	10	NUM
fbem-12572	187	3	]	]	PUNCT
fbem-12572	187	4	keynes	keyne	NOUN
fbem-12572	187	5	,	,	PUNCT
fbem-12572	187	6	j.m	j.m	PROPN
fbem-12572	187	7	.	.	PROPN
fbem-12572	187	8	,	,	PUNCT
fbem-12572	187	9	"	"	PUNCT
fbem-12572	187	10	the	the	DET
fbem-12572	187	11	general	general	ADJ
fbem-12572	187	12	theory	theory	NOUN
fbem-12572	187	13	of	of	ADP
fbem-12572	187	14	employment	employment	NOUN
fbem-12572	187	15	,	,	PUNCT
fbem-12572	187	16	interest	interest	NOUN
fbem-12572	187	17	and	and	CCONJ
fbem-12572	187	18	money	money	NOUN
fbem-12572	187	19	"	"	PUNCT
fbem-12572	187	20	,	,	PUNCT
fbem-12572	187	21	london	london	PROPN
fbem-12572	187	22	,	,	PUNCT
fbem-12572	187	23	1936	1936	NUM
fbem-12572	187	24	.	.	PUNCT
fbem-12572	188	1	[	[	X
fbem-12572	188	2	11	11	NUM
fbem-12572	188	3	]	]	X
fbem-12572	188	4	yue	yue	PROPN
fbem-12572	188	5	chuan	chuan	PROPN
fbem-12572	188	6	.	.	PUNCT
fbem-12572	189	1	research	research	NOUN
fbem-12572	189	2	on	on	ADP
fbem-12572	189	3	investor	investor	NOUN
fbem-12572	189	4	sentiment	sentiment	NOUN
fbem-12572	189	5	and	and	CCONJ
fbem-12572	189	6	investment	investment	NOUN
fbem-12572	189	7	behavior	behavior	NOUN
fbem-12572	189	8	of	of	ADP
fbem-12572	189	9	listed	list	VERB
fbem-12572	189	10	companies	company	NOUN
fbem-12572	190	1	[	[	X
fbem-12572	190	2	d	d	X
fbem-12572	190	3	]	]	X
fbem-12572	190	4	.	.	PUNCT
fbem-12572	191	1	southwest	southwest	PROPN
fbem-12572	191	2	university	university	PROPN
fbem-12572	191	3	of	of	ADP
fbem-12572	191	4	finance	finance	NOUN
fbem-12572	191	5	and	and	CCONJ
fbem-12572	191	6	economics	economic	NOUN
fbem-12572	191	7	,	,	PUNCT
fbem-12572	191	8	2013	2013	NUM
fbem-12572	191	9	.	.	PUNCT
fbem-12572	192	1	[	[	X
fbem-12572	192	2	12	12	NUM
fbem-12572	192	3	]	]	X
fbem-12572	192	4	lv	lv	PROPN
fbem-12572	192	5	zhuoyang	zhuoyang	PROPN
fbem-12572	192	6	.	.	PUNCT
fbem-12572	193	1	research	research	NOUN
fbem-12572	193	2	on	on	ADP
fbem-12572	193	3	the	the	DET
fbem-12572	193	4	impact	impact	NOUN
fbem-12572	193	5	of	of	ADP
fbem-12572	193	6	irrational	irrational	ADJ
fbem-12572	193	7	behavior	behavior	NOUN
fbem-12572	193	8	on	on	ADP
fbem-12572	193	9	personal	personal	ADJ
fbem-12572	193	10	finance	finance	NOUN
fbem-12572	193	11	investment	investment	NOUN
fbem-12572	193	12	decision	decision	NOUN
fbem-12572	193	13	a	a	DET
fbem-12572	193	14	survey	survey	NOUN
fbem-12572	193	15	based	base	VERB
fbem-12572	193	16	on	on	ADP
fbem-12572	193	17	the	the	DET
fbem-12572	193	18	market	market	NOUN
fbem-12572	193	19	of	of	ADP
fbem-12572	193	20	financial	financial	ADJ
fbem-12572	193	21	products	product	NOUN
fbem-12572	193	22	in	in	ADP
fbem-12572	193	23	commercial	commercial	ADJ
fbem-12572	193	24	banks	bank	NOUN
fbem-12572	194	1	[	[	X
fbem-12572	194	2	d	d	X
fbem-12572	194	3	]	]	X
fbem-12572	194	4	.	.	PUNCT
fbem-12572	195	1	northwest	northwest	PROPN
fbem-12572	195	2	agriculture	agriculture	PROPN
fbem-12572	195	3	and	and	CCONJ
fbem-12572	195	4	forestry	forestry	NOUN
fbem-12572	195	5	university,2019	university,2019	PROPN
fbem-12572	195	6	.	.	PUNCT