id	sid	tid	token	lemma	pos
gujaf-22	1	1	gujaf	gujaf	NOUN
gujaf-22	1	2	:	:	PUNCT
gujaf-22	1	3	gusau	gusau	PROPN
gujaf-22	1	4	journal	journal	NOUN
gujaf-22	1	5	of	of	ADP
gujaf-22	1	6	accounting	accounting	NOUN
gujaf-22	1	7	and	and	CCONJ
gujaf-22	1	8	finance	finance	NOUN
gujaf-22	1	9	,	,	PUNCT
gujaf-22	1	10	vol	vol	NOUN
gujaf-22	1	11	.	.	PUNCT
gujaf-22	2	1	i	i	PRON
gujaf-22	2	2	,	,	PUNCT
gujaf-22	2	3	issue	issue	NOUN
gujaf-22	2	4	1	1	NUM
gujaf-22	2	5	,	,	PUNCT
gujaf-22	2	6	april	april	PROPN
gujaf-22	2	7	,	,	PUNCT
gujaf-22	2	8	2020	2020	NUM
gujaf-22	2	9	issn	issn	VERB
gujaf-22	2	10	2756	2756	NUM
gujaf-22	2	11	-	-	PUNCT
gujaf-22	2	12	665x	665x	NOUN
gujaf-22	2	13	1	1	NUM
gujaf-22	2	14	trading	trading	NOUN
gujaf-22	2	15	floors	floor	NOUN
gujaf-22	2	16	automation	automation	NOUN
gujaf-22	2	17	and	and	CCONJ
gujaf-22	2	18	stock	stock	NOUN
gujaf-22	2	19	market	market	NOUN
gujaf-22	2	20	efficiency	efficiency	NOUN
gujaf-22	2	21	during	during	ADP
gujaf-22	2	22	equity	equity	NOUN
gujaf-22	2	23	issues	issue	NOUN
gujaf-22	2	24	announcements	announcement	NOUN
gujaf-22	2	25	in	in	ADP
gujaf-22	2	26	nigeria	nigeria	PROPN
gujaf-22	2	27	ibrahim	ibrahim	PROPN
gujaf-22	2	28	mohammed	mohammed	PROPN
gujaf-22	2	29	department	department	PROPN
gujaf-22	2	30	of	of	ADP
gujaf-22	2	31	banking	banking	NOUN
gujaf-22	2	32	and	and	CCONJ
gujaf-22	2	33	finance	finance	NOUN
gujaf-22	2	34	abu	abu	PROPN
gujaf-22	2	35	business	business	PROPN
gujaf-22	2	36	school	school	PROPN
gujaf-22	2	37	ahmadu	ahmadu	PROPN
gujaf-22	2	38	bello	bello	PROPN
gujaf-22	2	39	university	university	PROPN
gujaf-22	2	40	,	,	PUNCT
gujaf-22	2	41	zaria	zaria	PROPN
gujaf-22	2	42	,	,	PUNCT
gujaf-22	2	43	nigeria	nigeria	PROPN
gujaf-22	2	44	imohamed@abu.edu.ng	imohamed@abu.edu.ng	NOUN
gujaf-22	2	45	,	,	PUNCT
gujaf-22	2	46	miharbi247@gmail.com	miharbi247@gmail.com	X
gujaf-22	3	1	abstract	abstract	ADP
gujaf-22	3	2	this	this	DET
gujaf-22	3	3	paper	paper	NOUN
gujaf-22	3	4	examines	examine	VERB
gujaf-22	3	5	effect	effect	NOUN
gujaf-22	3	6	of	of	ADP
gujaf-22	3	7	the	the	DET
gujaf-22	3	8	automation	automation	NOUN
gujaf-22	3	9	of	of	ADP
gujaf-22	3	10	trading	trading	NOUN
gujaf-22	3	11	platforms	platform	NOUN
gujaf-22	3	12	on	on	ADP
gujaf-22	3	13	the	the	DET
gujaf-22	3	14	reaction	reaction	NOUN
gujaf-22	3	15	of	of	ADP
gujaf-22	3	16	the	the	DET
gujaf-22	3	17	nigerian	nigerian	ADJ
gujaf-22	3	18	stock	stock	NOUN
gujaf-22	3	19	market	market	NOUN
gujaf-22	3	20	to	to	ADP
gujaf-22	3	21	seasoned	seasoned	ADJ
gujaf-22	3	22	equity	equity	NOUN
gujaf-22	3	23	offerings	offering	NOUN
gujaf-22	3	24	(	(	PUNCT
gujaf-22	3	25	seos	seo	NOUN
gujaf-22	3	26	)	)	PUNCT
gujaf-22	3	27	announcements	announcement	NOUN
gujaf-22	3	28	.	.	PUNCT
gujaf-22	4	1	the	the	DET
gujaf-22	4	2	study	study	NOUN
gujaf-22	4	3	utilized	utilize	VERB
gujaf-22	4	4	a	a	DET
gujaf-22	4	5	sample	sample	NOUN
gujaf-22	4	6	of	of	ADP
gujaf-22	4	7	86	86	NUM
gujaf-22	4	8	seo	seo	NOUN
gujaf-22	4	9	announcements	announcement	NOUN
gujaf-22	4	10	between	between	ADP
gujaf-22	4	11	july	july	PROPN
gujaf-22	4	12	1995	1995	NUM
gujaf-22	4	13	and	and	CCONJ
gujaf-22	4	14	december	december	PROPN
gujaf-22	4	15	2019	2019	NUM
gujaf-22	4	16	,	,	PUNCT
gujaf-22	4	17	out	out	ADP
gujaf-22	4	18	of	of	ADP
gujaf-22	4	19	which	which	PRON
gujaf-22	4	20	27	27	NUM
gujaf-22	4	21	were	be	AUX
gujaf-22	4	22	made	make	VERB
gujaf-22	4	23	before	before	ADP
gujaf-22	4	24	the	the	DET
gujaf-22	4	25	automation	automation	NOUN
gujaf-22	4	26	of	of	ADP
gujaf-22	4	27	trading	trading	NOUN
gujaf-22	4	28	floors	floor	NOUN
gujaf-22	4	29	in	in	ADP
gujaf-22	4	30	1999	1999	NUM
gujaf-22	4	31	and	and	CCONJ
gujaf-22	4	32	59	59	NUM
gujaf-22	4	33	after	after	ADP
gujaf-22	4	34	automation	automation	NOUN
gujaf-22	4	35	.	.	PUNCT
gujaf-22	5	1	to	to	PART
gujaf-22	5	2	investigate	investigate	VERB
gujaf-22	5	3	reaction	reaction	NOUN
gujaf-22	5	4	of	of	ADP
gujaf-22	5	5	the	the	DET
gujaf-22	5	6	nigerian	nigerian	ADJ
gujaf-22	5	7	stock	stock	NOUN
gujaf-22	5	8	market	market	NOUN
gujaf-22	5	9	seos	seo	NOUN
gujaf-22	5	10	announcements	announcement	NOUN
gujaf-22	5	11	,	,	PUNCT
gujaf-22	5	12	the	the	DET
gujaf-22	5	13	standard	standard	ADJ
gujaf-22	5	14	event	event	NOUN
gujaf-22	5	15	study	study	NOUN
gujaf-22	5	16	methodology	methodology	NOUN
gujaf-22	5	17	was	be	AUX
gujaf-22	5	18	employed	employ	VERB
gujaf-22	5	19	,	,	PUNCT
gujaf-22	5	20	and	and	CCONJ
gujaf-22	5	21	the	the	DET
gujaf-22	5	22	market	market	NOUN
gujaf-22	5	23	model	model	NOUN
gujaf-22	5	24	was	be	AUX
gujaf-22	5	25	utilized	utilize	VERB
gujaf-22	5	26	as	as	ADP
gujaf-22	5	27	the	the	DET
gujaf-22	5	28	benchmark	benchmark	NOUN
gujaf-22	5	29	model	model	NOUN
gujaf-22	5	30	for	for	ADP
gujaf-22	5	31	computing	compute	VERB
gujaf-22	5	32	returns	return	NOUN
gujaf-22	5	33	.	.	PUNCT
gujaf-22	6	1	on	on	ADP
gujaf-22	6	2	the	the	DET
gujaf-22	6	3	other	other	ADJ
gujaf-22	6	4	hand	hand	NOUN
gujaf-22	6	5	,	,	PUNCT
gujaf-22	6	6	effect	effect	NOUN
gujaf-22	6	7	of	of	ADP
gujaf-22	6	8	automation	automation	NOUN
gujaf-22	6	9	announcement	announcement	NOUN
gujaf-22	6	10	was	be	AUX
gujaf-22	6	11	examined	examine	VERB
gujaf-22	6	12	using	use	VERB
gujaf-22	6	13	difference	difference	NOUN
gujaf-22	6	14	test	test	NOUN
gujaf-22	6	15	for	for	ADP
gujaf-22	6	16	abnormal	abnormal	ADJ
gujaf-22	6	17	return	return	NOUN
gujaf-22	6	18	.	.	PUNCT
gujaf-22	7	1	in	in	ADP
gujaf-22	7	2	line	line	NOUN
gujaf-22	7	3	with	with	ADP
gujaf-22	7	4	extant	extant	ADJ
gujaf-22	7	5	empirical	empirical	ADJ
gujaf-22	7	6	evidence	evidence	NOUN
gujaf-22	7	7	,	,	PUNCT
gujaf-22	7	8	the	the	DET
gujaf-22	7	9	paper	paper	NOUN
gujaf-22	7	10	found	find	VERB
gujaf-22	7	11	negative	negative	ADJ
gujaf-22	7	12	and	and	CCONJ
gujaf-22	7	13	statistically	statistically	ADV
gujaf-22	7	14	significant	significant	ADJ
gujaf-22	7	15	announcement	announcement	NOUN
gujaf-22	7	16	day	day	NOUN
gujaf-22	7	17	abnormal	abnormal	ADJ
gujaf-22	7	18	returns	return	NOUN
gujaf-22	7	19	-3.33	-3.33	NOUN
gujaf-22	7	20	%	%	NOUN
gujaf-22	7	21	and	and	CCONJ
gujaf-22	7	22	-2.91	-2.91	NUM
gujaf-22	7	23	%	%	NOUN
gujaf-22	7	24	for	for	ADP
gujaf-22	7	25	the	the	DET
gujaf-22	7	26	pre	pre	NOUN
gujaf-22	7	27	-	-	NOUN
gujaf-22	7	28	automation	automation	NOUN
gujaf-22	7	29	and	and	CCONJ
gujaf-22	7	30	postautomation	postautomation	NOUN
gujaf-22	7	31	periods	period	NOUN
gujaf-22	7	32	respectively	respectively	ADV
gujaf-22	7	33	.	.	PUNCT
gujaf-22	8	1	however	however	ADV
gujaf-22	8	2	,	,	PUNCT
gujaf-22	8	3	t	t	PROPN
gujaf-22	8	4	-	-	PUNCT
gujaf-22	8	5	statistic	statistic	NOUN
gujaf-22	8	6	of	of	ADP
gujaf-22	8	7	-0.26	-0.26	NOUN
gujaf-22	8	8	was	be	AUX
gujaf-22	8	9	not	not	PART
gujaf-22	8	10	significant	significant	ADJ
gujaf-22	8	11	at	at	ADP
gujaf-22	8	12	any	any	PRON
gujaf-22	8	13	of	of	ADP
gujaf-22	8	14	the	the	DET
gujaf-22	8	15	conventional	conventional	ADJ
gujaf-22	8	16	levels	level	NOUN
gujaf-22	8	17	.	.	PUNCT
gujaf-22	9	1	the	the	DET
gujaf-22	9	2	paper	paper	NOUN
gujaf-22	9	3	thus	thus	ADV
gujaf-22	9	4	concluded	conclude	VERB
gujaf-22	9	5	that	that	SCONJ
gujaf-22	9	6	the	the	DET
gujaf-22	9	7	negative	negative	ADJ
gujaf-22	9	8	reaction	reaction	NOUN
gujaf-22	9	9	of	of	ADP
gujaf-22	9	10	the	the	DET
gujaf-22	9	11	nigerian	nigerian	ADJ
gujaf-22	9	12	stock	stock	NOUN
gujaf-22	9	13	market	market	NOUN
gujaf-22	9	14	to	to	ADP
gujaf-22	9	15	seo	seo	NOUN
gujaf-22	9	16	announcements	announcement	NOUN
gujaf-22	9	17	is	be	AUX
gujaf-22	9	18	consistent	consistent	ADJ
gujaf-22	9	19	with	with	ADP
gujaf-22	9	20	the	the	DET
gujaf-22	9	21	notion	notion	NOUN
gujaf-22	9	22	that	that	SCONJ
gujaf-22	9	23	investors	investor	NOUN
gujaf-22	9	24	perceived	perceive	VERB
gujaf-22	9	25	the	the	DET
gujaf-22	9	26	announcing	announce	VERB
gujaf-22	9	27	firms	firm	NOUN
gujaf-22	9	28	as	as	ADP
gujaf-22	9	29	overvalued	overvalue	VERB
gujaf-22	9	30	.	.	PUNCT
gujaf-22	10	1	it	it	PRON
gujaf-22	10	2	was	be	AUX
gujaf-22	10	3	found	find	VERB
gujaf-22	10	4	that	that	SCONJ
gujaf-22	10	5	the	the	DET
gujaf-22	10	6	effect	effect	NOUN
gujaf-22	10	7	automation	automation	NOUN
gujaf-22	10	8	.	.	PUNCT
gujaf-22	11	1	it	it	PRON
gujaf-22	11	2	was	be	AUX
gujaf-22	11	3	also	also	ADV
gujaf-22	11	4	concluded	conclude	VERB
gujaf-22	11	5	that	that	SCONJ
gujaf-22	11	6	automation	automation	NOUN
gujaf-22	11	7	did	do	AUX
gujaf-22	11	8	not	not	PART
gujaf-22	11	9	have	have	VERB
gujaf-22	11	10	significant	significant	ADJ
gujaf-22	11	11	effect	effect	NOUN
gujaf-22	11	12	on	on	ADP
gujaf-22	11	13	the	the	DET
gujaf-22	11	14	market	market	NOUN
gujaf-22	11	15	’s	’s	PART
gujaf-22	11	16	reaction	reaction	NOUN
gujaf-22	11	17	to	to	ADP
gujaf-22	11	18	seo	seo	NOUN
gujaf-22	11	19	announcements	announcement	NOUN
gujaf-22	11	20	in	in	ADP
gujaf-22	11	21	nigeria	nigeria	PROPN
gujaf-22	11	22	.	.	PUNCT
gujaf-22	12	1	the	the	DET
gujaf-22	12	2	paper	paper	NOUN
gujaf-22	12	3	recommended	recommend	VERB
gujaf-22	12	4	adequate	adequate	ADJ
gujaf-22	12	5	disclosure	disclosure	NOUN
gujaf-22	12	6	of	of	ADP
gujaf-22	12	7	the	the	DET
gujaf-22	12	8	intended	intend	VERB
gujaf-22	12	9	use	use	NOUN
gujaf-22	12	10	of	of	ADP
gujaf-22	12	11	proceeds	proceed	NOUN
gujaf-22	12	12	from	from	ADP
gujaf-22	12	13	the	the	DET
gujaf-22	12	14	seo	seo	NOUN
gujaf-22	12	15	prior	prior	ADV
gujaf-22	12	16	to	to	ADP
gujaf-22	12	17	the	the	DET
gujaf-22	12	18	announcement	announcement	NOUN
gujaf-22	12	19	.	.	PUNCT
gujaf-22	13	1	it	it	PRON
gujaf-22	13	2	was	be	AUX
gujaf-22	13	3	also	also	ADV
gujaf-22	13	4	recommended	recommend	VERB
gujaf-22	13	5	that	that	SCONJ
gujaf-22	13	6	the	the	DET
gujaf-22	13	7	automated	automate	VERB
gujaf-22	13	8	trading	trading	NOUN
gujaf-22	13	9	platforms	platform	NOUN
gujaf-22	13	10	and	and	CCONJ
gujaf-22	13	11	other	other	ADJ
gujaf-22	13	12	market	market	NOUN
gujaf-22	13	13	infrastructure	infrastructure	NOUN
gujaf-22	13	14	should	should	AUX
gujaf-22	13	15	be	be	AUX
gujaf-22	13	16	constantly	constantly	ADV
gujaf-22	13	17	upgraded	upgrade	VERB
gujaf-22	13	18	to	to	PART
gujaf-22	13	19	enhance	enhance	VERB
gujaf-22	13	20	prompt	prompt	ADJ
gujaf-22	13	21	information	information	NOUN
gujaf-22	13	22	dissemination	dissemination	NOUN
gujaf-22	13	23	to	to	ADP
gujaf-22	13	24	all	all	DET
gujaf-22	13	25	market	market	NOUN
gujaf-22	13	26	participants	participant	NOUN
gujaf-22	13	27	.	.	PUNCT
gujaf-22	14	1	keywords	keyword	NOUN
gujaf-22	14	2	:	:	PUNCT
gujaf-22	14	3	automation	automation	NOUN
gujaf-22	14	4	,	,	PUNCT
gujaf-22	14	5	market	market	NOUN
gujaf-22	14	6	efficiency	efficiency	NOUN
gujaf-22	14	7	,	,	PUNCT
gujaf-22	14	8	seasoned	season	VERB
gujaf-22	14	9	equity	equity	NOUN
gujaf-22	14	10	offerings	offering	NOUN
gujaf-22	14	11	,	,	PUNCT
gujaf-22	14	12	event	event	NOUN
gujaf-22	14	13	studies	study	NOUN
gujaf-22	14	14	,	,	PUNCT
gujaf-22	14	15	nigeria	nigeria	PROPN
gujaf-22	14	16	jel	jel	PROPN
gujaf-22	14	17	classification	classification	PROPN
gujaf-22	14	18	:	:	PUNCT
gujaf-22	14	19	g12	g12	PROPN
gujaf-22	14	20	,	,	PUNCT
gujaf-22	14	21	g14	g14	NOUN
gujaf-22	14	22	,	,	PUNCT
gujaf-22	14	23	g32	g32	NOUN
gujaf-22	14	24	,	,	PUNCT
gujaf-22	14	25	n27	n27	PROPN
gujaf-22	14	26	1	1	NUM
gujaf-22	14	27	.	.	PUNCT
gujaf-22	15	1	introduction	introduction	NOUN
gujaf-22	15	2	performance	performance	NOUN
gujaf-22	15	3	has	have	AUX
gujaf-22	15	4	been	be	AUX
gujaf-22	15	5	a	a	DET
gujaf-22	15	6	major	major	ADJ
gujaf-22	15	7	concern	concern	NOUN
gujaf-22	15	8	to	to	ADP
gujaf-22	15	9	corporate	corporate	ADJ
gujaf-22	15	10	managers	manager	NOUN
gujaf-22	15	11	of	of	ADP
gujaf-22	15	12	firms	firm	NOUN
gujaf-22	15	13	as	as	SCONJ
gujaf-22	15	14	it	it	PRON
gujaf-22	15	15	is	be	AUX
gujaf-22	15	16	the	the	DET
gujaf-22	15	17	major	major	ADJ
gujaf-22	15	18	yardstick	yardstick	NOUN
gujaf-22	15	19	that	that	PRON
gujaf-22	15	20	justifies	justify	VERB
gujaf-22	15	21	their	their	PRON
gujaf-22	15	22	effort	effort	NOUN
gujaf-22	15	23	at	at	ADP
gujaf-22	15	24	any	any	DET
gujaf-22	15	25	time	time	NOUN
gujaf-22	15	26	.	.	PUNCT
gujaf-22	16	1	thus	thus	ADV
gujaf-22	16	2	,	,	PUNCT
gujaf-22	16	3	managers	manager	NOUN
gujaf-22	16	4	of	of	ADP
gujaf-22	16	5	firms	firm	NOUN
gujaf-22	16	6	have	have	AUX
gujaf-22	16	7	been	be	AUX
gujaf-22	16	8	pre	pre	VERB
gujaf-22	16	9	-	-	VERB
gujaf-22	16	10	occupied	occupy	VERB
gujaf-22	16	11	with	with	ADP
gujaf-22	16	12	improving	improve	VERB
gujaf-22	16	13	performance	performance	NOUN
gujaf-22	16	14	more	more	ADJ
gujaf-22	16	15	than	than	ADP
gujaf-22	16	16	any	any	DET
gujaf-22	16	17	other	other	ADJ
gujaf-22	16	18	aspect	aspect	NOUN
gujaf-22	16	19	of	of	ADP
gujaf-22	16	20	corporate	corporate	ADJ
gujaf-22	16	21	activities	activity	NOUN
gujaf-22	16	22	.	.	PUNCT
gujaf-22	17	1	there	there	PRON
gujaf-22	17	2	are	be	VERB
gujaf-22	17	3	many	many	ADJ
gujaf-22	17	4	metrics	metric	NOUN
gujaf-22	17	5	that	that	PRON
gujaf-22	17	6	can	can	AUX
gujaf-22	17	7	be	be	AUX
gujaf-22	17	8	employed	employ	VERB
gujaf-22	17	9	to	to	PART
gujaf-22	17	10	measure	measure	VERB
gujaf-22	17	11	performance	performance	NOUN
gujaf-22	17	12	in	in	ADP
gujaf-22	17	13	corporate	corporate	ADJ
gujaf-22	17	14	organizations	organization	NOUN
gujaf-22	17	15	but	but	CCONJ
gujaf-22	17	16	one	one	NUM
gujaf-22	17	17	of	of	ADP
gujaf-22	17	18	the	the	DET
gujaf-22	17	19	most	most	ADV
gujaf-22	17	20	important	important	ADJ
gujaf-22	17	21	measures	measure	NOUN
gujaf-22	17	22	is	be	AUX
gujaf-22	17	23	the	the	DET
gujaf-22	17	24	market	market	NOUN
gujaf-22	17	25	value	value	NOUN
gujaf-22	17	26	of	of	ADP
gujaf-22	17	27	the	the	DET
gujaf-22	17	28	firm	firm	NOUN
gujaf-22	17	29	.	.	PUNCT
gujaf-22	18	1	market	market	NOUN
gujaf-22	18	2	value	value	NOUN
gujaf-22	18	3	of	of	ADP
gujaf-22	18	4	a	a	DET
gujaf-22	18	5	firm	firm	NOUN
gujaf-22	18	6	is	be	AUX
gujaf-22	18	7	often	often	ADV
gujaf-22	18	8	depicted	depict	VERB
gujaf-22	18	9	as	as	ADP
gujaf-22	18	10	the	the	DET
gujaf-22	18	11	value	value	NOUN
gujaf-22	18	12	investors	investor	NOUN
gujaf-22	18	13	are	be	AUX
gujaf-22	18	14	willing	willing	ADJ
gujaf-22	18	15	to	to	PART
gujaf-22	18	16	pay	pay	VERB
gujaf-22	18	17	to	to	PART
gujaf-22	18	18	hold	hold	VERB
gujaf-22	18	19	a	a	DET
gujaf-22	18	20	stake	stake	NOUN
gujaf-22	18	21	in	in	ADP
gujaf-22	18	22	the	the	DET
gujaf-22	18	23	firm	firm	NOUN
gujaf-22	18	24	;	;	PUNCT
gujaf-22	18	25	its	its	PRON
gujaf-22	18	26	stock	stock	NOUN
gujaf-22	18	27	price	price	NOUN
gujaf-22	18	28	.	.	PUNCT
gujaf-22	19	1	the	the	DET
gujaf-22	19	2	market	market	NOUN
gujaf-22	19	3	mailto:imohamed@abu.edu.ng	mailto:imohamed@abu.edu.ng	NOUN
gujaf-22	19	4	mailto:miharbi247@gmail.com	mailto:miharbi247@gmail.com	NUM
gujaf-22	19	5	gujaf	gujaf	NOUN
gujaf-22	19	6	:	:	PUNCT
gujaf-22	19	7	gusau	gusau	PROPN
gujaf-22	19	8	journal	journal	NOUN
gujaf-22	19	9	of	of	ADP
gujaf-22	19	10	accounting	accounting	NOUN
gujaf-22	19	11	and	and	CCONJ
gujaf-22	19	12	finance	finance	NOUN
gujaf-22	19	13	,	,	PUNCT
gujaf-22	19	14	vol	vol	NOUN
gujaf-22	19	15	.	.	PUNCT
gujaf-22	20	1	i	i	PRON
gujaf-22	20	2	,	,	PUNCT
gujaf-22	20	3	issue	issue	NOUN
gujaf-22	20	4	1	1	NUM
gujaf-22	20	5	,	,	PUNCT
gujaf-22	20	6	april	april	PROPN
gujaf-22	20	7	,	,	PUNCT
gujaf-22	20	8	2020	2020	NUM
gujaf-22	20	9	issn	issn	VERB
gujaf-22	20	10	2756	2756	NUM
gujaf-22	20	11	-	-	PUNCT
gujaf-22	20	12	665x	665x	NOUN
gujaf-22	20	13	2	2	NUM
gujaf-22	20	14	price	price	NOUN
gujaf-22	20	15	of	of	ADP
gujaf-22	20	16	a	a	DET
gujaf-22	20	17	firms	firm	NOUN
gujaf-22	20	18	’	'	PUNCT
gujaf-22	20	19	stock	stock	NOUN
gujaf-22	20	20	is	be	AUX
gujaf-22	20	21	thus	thus	ADV
gujaf-22	20	22	an	an	DET
gujaf-22	20	23	essential	essential	ADJ
gujaf-22	20	24	measure	measure	NOUN
gujaf-22	20	25	of	of	ADP
gujaf-22	20	26	its	its	PRON
gujaf-22	20	27	performance	performance	NOUN
gujaf-22	20	28	because	because	SCONJ
gujaf-22	20	29	to	to	ADP
gujaf-22	20	30	investors	investor	NOUN
gujaf-22	20	31	,	,	PUNCT
gujaf-22	20	32	it	it	PRON
gujaf-22	20	33	reflects	reflect	VERB
gujaf-22	20	34	the	the	DET
gujaf-22	20	35	present	present	ADJ
gujaf-22	20	36	value	value	NOUN
gujaf-22	20	37	of	of	ADP
gujaf-22	20	38	the	the	DET
gujaf-22	20	39	firm	firm	NOUN
gujaf-22	20	40	’s	’s	PART
gujaf-22	20	41	discounted	discount	VERB
gujaf-22	20	42	future	future	ADJ
gujaf-22	20	43	cashflows	cashflow	NOUN
gujaf-22	20	44	(	(	PUNCT
gujaf-22	20	45	jensen	jensen	PROPN
gujaf-22	20	46	,	,	PUNCT
gujaf-22	20	47	1986	1986	NUM
gujaf-22	20	48	)	)	PUNCT
gujaf-22	20	49	.	.	PUNCT
gujaf-22	21	1	the	the	DET
gujaf-22	21	2	value	value	NOUN
gujaf-22	21	3	of	of	ADP
gujaf-22	21	4	these	these	DET
gujaf-22	21	5	future	future	ADJ
gujaf-22	21	6	cashflows	cashflow	NOUN
gujaf-22	21	7	is	be	AUX
gujaf-22	21	8	largely	largely	ADV
gujaf-22	21	9	determined	determine	VERB
gujaf-22	21	10	by	by	ADP
gujaf-22	21	11	the	the	DET
gujaf-22	21	12	firm	firm	NOUN
gujaf-22	21	13	’s	’s	PART
gujaf-22	21	14	current	current	ADJ
gujaf-22	21	15	investment	investment	NOUN
gujaf-22	21	16	opportunities	opportunity	NOUN
gujaf-22	21	17	and	and	CCONJ
gujaf-22	21	18	how	how	SCONJ
gujaf-22	21	19	well	well	ADV
gujaf-22	21	20	the	the	DET
gujaf-22	21	21	firm	firm	NOUN
gujaf-22	21	22	is	be	AUX
gujaf-22	21	23	able	able	ADJ
gujaf-22	21	24	to	to	PART
gujaf-22	21	25	leverage	leverage	VERB
gujaf-22	21	26	on	on	ADP
gujaf-22	21	27	such	such	ADJ
gujaf-22	21	28	opportunities	opportunity	NOUN
gujaf-22	21	29	(	(	PUNCT
gujaf-22	21	30	denis	denis	PROPN
gujaf-22	21	31	,	,	PUNCT
gujaf-22	21	32	1994	1994	NUM
gujaf-22	21	33	)	)	PUNCT
gujaf-22	21	34	.	.	PUNCT
gujaf-22	22	1	however	however	ADV
gujaf-22	22	2	,	,	PUNCT
gujaf-22	22	3	exploiting	exploit	VERB
gujaf-22	22	4	investment	investment	NOUN
gujaf-22	22	5	opportunities	opportunity	NOUN
gujaf-22	22	6	available	available	ADJ
gujaf-22	22	7	to	to	ADP
gujaf-22	22	8	a	a	DET
gujaf-22	22	9	firm	firm	NOUN
gujaf-22	22	10	requires	require	VERB
gujaf-22	22	11	it	it	PRON
gujaf-22	22	12	to	to	PART
gujaf-22	22	13	raise	raise	VERB
gujaf-22	22	14	adequate	adequate	ADJ
gujaf-22	22	15	capital	capital	NOUN
gujaf-22	22	16	to	to	PART
gujaf-22	22	17	finance	finance	VERB
gujaf-22	22	18	such	such	ADJ
gujaf-22	22	19	operations	operation	NOUN
gujaf-22	22	20	.	.	PUNCT
gujaf-22	23	1	one	one	NUM
gujaf-22	23	2	of	of	ADP
gujaf-22	23	3	the	the	DET
gujaf-22	23	4	common	common	ADJ
gujaf-22	23	5	ways	way	NOUN
gujaf-22	23	6	for	for	SCONJ
gujaf-22	23	7	corporate	corporate	ADJ
gujaf-22	23	8	organizations	organization	NOUN
gujaf-22	23	9	to	to	PART
gujaf-22	23	10	raise	raise	VERB
gujaf-22	23	11	large	large	ADJ
gujaf-22	23	12	capital	capital	NOUN
gujaf-22	23	13	to	to	PART
gujaf-22	23	14	finance	finance	VERB
gujaf-22	23	15	investments	investment	NOUN
gujaf-22	23	16	is	be	AUX
gujaf-22	23	17	by	by	ADP
gujaf-22	23	18	issuing	issue	VERB
gujaf-22	23	19	equity	equity	NOUN
gujaf-22	23	20	.	.	PUNCT
gujaf-22	24	1	otherwise	otherwise	ADV
gujaf-22	24	2	known	know	VERB
gujaf-22	24	3	as	as	ADP
gujaf-22	24	4	seasoned	seasoned	ADJ
gujaf-22	24	5	equity	equity	NOUN
gujaf-22	24	6	offering	offering	NOUN
gujaf-22	24	7	(	(	PUNCT
gujaf-22	24	8	seo	seo	NOUN
gujaf-22	24	9	)	)	PUNCT
gujaf-22	24	10	,	,	PUNCT
gujaf-22	24	11	equity	equity	NOUN
gujaf-22	24	12	issues	issue	NOUN
gujaf-22	24	13	entail	entail	VERB
gujaf-22	24	14	raising	raise	VERB
gujaf-22	24	15	capital	capital	NOUN
gujaf-22	24	16	by	by	ADP
gujaf-22	24	17	a	a	DET
gujaf-22	24	18	firm	firm	NOUN
gujaf-22	24	19	through	through	ADP
gujaf-22	24	20	the	the	DET
gujaf-22	24	21	sale	sale	NOUN
gujaf-22	24	22	of	of	ADP
gujaf-22	24	23	additional	additional	ADJ
gujaf-22	24	24	units	unit	NOUN
gujaf-22	24	25	of	of	ADP
gujaf-22	24	26	stock	stock	NOUN
gujaf-22	24	27	to	to	ADP
gujaf-22	24	28	members	member	NOUN
gujaf-22	24	29	of	of	ADP
gujaf-22	24	30	the	the	DET
gujaf-22	24	31	public	public	NOUN
gujaf-22	24	32	.	.	PUNCT
gujaf-22	25	1	the	the	DET
gujaf-22	25	2	importance	importance	NOUN
gujaf-22	25	3	of	of	ADP
gujaf-22	25	4	seo	seo	NOUN
gujaf-22	25	5	to	to	ADP
gujaf-22	25	6	corporate	corporate	ADJ
gujaf-22	25	7	organizations	organization	NOUN
gujaf-22	25	8	can	can	AUX
gujaf-22	25	9	be	be	AUX
gujaf-22	25	10	seen	see	VERB
gujaf-22	25	11	in	in	ADP
gujaf-22	25	12	its	its	PRON
gujaf-22	25	13	rising	rise	VERB
gujaf-22	25	14	popularity	popularity	NOUN
gujaf-22	25	15	as	as	ADP
gujaf-22	25	16	a	a	DET
gujaf-22	25	17	favoured	favour	VERB
gujaf-22	25	18	means	mean	NOUN
gujaf-22	25	19	of	of	ADP
gujaf-22	25	20	raising	raise	VERB
gujaf-22	25	21	capital	capital	NOUN
gujaf-22	25	22	among	among	ADP
gujaf-22	25	23	managers	manager	NOUN
gujaf-22	25	24	of	of	ADP
gujaf-22	25	25	corporate	corporate	ADJ
gujaf-22	25	26	organizations	organization	NOUN
gujaf-22	25	27	(	(	PUNCT
gujaf-22	25	28	kim	kim	PROPN
gujaf-22	25	29	&	&	CCONJ
gujaf-22	25	30	weisbach	weisbach	NOUN
gujaf-22	25	31	,	,	PUNCT
gujaf-22	25	32	2008	2008	NUM
gujaf-22	25	33	)	)	PUNCT
gujaf-22	25	34	.	.	PUNCT
gujaf-22	26	1	according	accord	VERB
gujaf-22	26	2	to	to	ADP
gujaf-22	26	3	fama	fama	PROPN
gujaf-22	26	4	(	(	PUNCT
gujaf-22	26	5	1970	1970	NUM
gujaf-22	26	6	)	)	PUNCT
gujaf-22	26	7	,	,	PUNCT
gujaf-22	26	8	the	the	DET
gujaf-22	26	9	market	market	NOUN
gujaf-22	26	10	,	,	PUNCT
gujaf-22	26	11	represented	represent	VERB
gujaf-22	26	12	by	by	ADP
gujaf-22	26	13	investors	investor	NOUN
gujaf-22	26	14	,	,	PUNCT
gujaf-22	26	15	should	should	AUX
gujaf-22	26	16	react	react	VERB
gujaf-22	26	17	to	to	ADP
gujaf-22	26	18	such	such	DET
gujaf-22	26	19	an	an	DET
gujaf-22	26	20	announcement	announcement	NOUN
gujaf-22	26	21	in	in	ADP
gujaf-22	26	22	a	a	DET
gujaf-22	26	23	way	way	NOUN
gujaf-22	26	24	that	that	PRON
gujaf-22	26	25	investors	investor	NOUN
gujaf-22	26	26	’	’	PART
gujaf-22	26	27	judgment	judgment	NOUN
gujaf-22	26	28	regarding	regard	VERB
gujaf-22	26	29	the	the	DET
gujaf-22	26	30	suitability	suitability	NOUN
gujaf-22	26	31	of	of	ADP
gujaf-22	26	32	raising	raise	VERB
gujaf-22	26	33	capital	capital	NOUN
gujaf-22	26	34	through	through	ADP
gujaf-22	26	35	seos	seo	NOUN
gujaf-22	26	36	is	be	AUX
gujaf-22	26	37	reflected	reflect	VERB
gujaf-22	26	38	in	in	ADP
gujaf-22	26	39	the	the	DET
gujaf-22	26	40	firm	firm	NOUN
gujaf-22	26	41	’s	’s	PART
gujaf-22	26	42	stock	stock	NOUN
gujaf-22	26	43	price	price	NOUN
gujaf-22	26	44	.	.	PUNCT
gujaf-22	27	1	if	if	SCONJ
gujaf-22	27	2	the	the	DET
gujaf-22	27	3	market	market	NOUN
gujaf-22	27	4	is	be	AUX
gujaf-22	27	5	efficient	efficient	ADJ
gujaf-22	27	6	,	,	PUNCT
gujaf-22	27	7	stock	stock	NOUN
gujaf-22	27	8	price	price	NOUN
gujaf-22	27	9	of	of	ADP
gujaf-22	27	10	the	the	DET
gujaf-22	27	11	issuing	issue	VERB
gujaf-22	27	12	firm	firm	NOUN
gujaf-22	27	13	will	will	AUX
gujaf-22	27	14	instantly	instantly	ADV
gujaf-22	27	15	adjust	adjust	VERB
gujaf-22	27	16	to	to	PART
gujaf-22	27	17	reflect	reflect	VERB
gujaf-22	27	18	investors	investor	NOUN
gujaf-22	27	19	’	’	PART
gujaf-22	27	20	sentiment	sentiment	NOUN
gujaf-22	27	21	once	once	SCONJ
gujaf-22	27	22	the	the	DET
gujaf-22	27	23	issue	issue	NOUN
gujaf-22	27	24	is	be	AUX
gujaf-22	27	25	publicly	publicly	ADV
gujaf-22	27	26	announced	announce	VERB
gujaf-22	27	27	.	.	PUNCT
gujaf-22	28	1	extant	extant	ADJ
gujaf-22	28	2	empirical	empirical	ADJ
gujaf-22	28	3	evidence	evidence	NOUN
gujaf-22	28	4	by	by	ADP
gujaf-22	28	5	hammar	hammar	PROPN
gujaf-22	28	6	and	and	CCONJ
gujaf-22	28	7	perman	perman	NOUN
gujaf-22	28	8	(	(	PUNCT
gujaf-22	28	9	2015	2015	NUM
gujaf-22	28	10	)	)	PUNCT
gujaf-22	28	11	,	,	PUNCT
gujaf-22	28	12	liu	liu	PROPN
gujaf-22	28	13	,	,	PUNCT
gujaf-22	28	14	akbar	akbar	NOUN
gujaf-22	28	15	,	,	PUNCT
gujaf-22	28	16	shah	shah	NOUN
gujaf-22	28	17	,	,	PUNCT
gujaf-22	28	18	zhang	zhang	PROPN
gujaf-22	28	19	and	and	CCONJ
gujaf-22	28	20	pang	pang	NOUN
gujaf-22	28	21	(	(	PUNCT
gujaf-22	28	22	2016	2016	NUM
gujaf-22	28	23	)	)	PUNCT
gujaf-22	28	24	,	,	PUNCT
gujaf-22	28	25	brau	brau	PROPN
gujaf-22	28	26	and	and	CCONJ
gujaf-22	28	27	carpenter	carpenter	PROPN
gujaf-22	28	28	(	(	PUNCT
gujaf-22	28	29	2017	2017	NUM
gujaf-22	28	30	)	)	PUNCT
gujaf-22	28	31	,	,	PUNCT
gujaf-22	28	32	huang	huang	PROPN
gujaf-22	28	33	and	and	CCONJ
gujaf-22	28	34	chiu	chiu	PROPN
gujaf-22	28	35	(	(	PUNCT
gujaf-22	28	36	2017	2017	NUM
gujaf-22	28	37	)	)	PUNCT
gujaf-22	28	38	,	,	PUNCT
gujaf-22	28	39	kumar	kumar	PROPN
gujaf-22	28	40	,	,	PUNCT
gujaf-22	28	41	hawaldar	hawaldar	NOUN
gujaf-22	28	42	and	and	CCONJ
gujaf-22	28	43	mallikarjunappa	mallikarjunappa	NOUN
gujaf-22	28	44	(	(	PUNCT
gujaf-22	28	45	2018	2018	NUM
gujaf-22	28	46	)	)	PUNCT
gujaf-22	28	47	,	,	PUNCT
gujaf-22	28	48	width	width	ADJ
gujaf-22	28	49	and	and	CCONJ
gujaf-22	28	50	arseth	arseth	ADJ
gujaf-22	28	51	(	(	PUNCT
gujaf-22	28	52	2018	2018	NUM
gujaf-22	28	53	)	)	PUNCT
gujaf-22	28	54	and	and	CCONJ
gujaf-22	28	55	ulrich	ulrich	PROPN
gujaf-22	28	56	(	(	PUNCT
gujaf-22	28	57	2018	2018	NUM
gujaf-22	28	58	)	)	PUNCT
gujaf-22	28	59	has	have	AUX
gujaf-22	28	60	shown	show	VERB
gujaf-22	28	61	that	that	SCONJ
gujaf-22	28	62	stock	stock	NOUN
gujaf-22	28	63	markets	market	NOUN
gujaf-22	28	64	react	react	VERB
gujaf-22	28	65	to	to	ADP
gujaf-22	28	66	seo	seo	NOUN
gujaf-22	28	67	announcements	announcement	NOUN
gujaf-22	28	68	.	.	PUNCT
gujaf-22	29	1	aside	aside	ADP
gujaf-22	29	2	the	the	DET
gujaf-22	29	3	fact	fact	NOUN
gujaf-22	29	4	that	that	SCONJ
gujaf-22	29	5	seos	seo	NOUN
gujaf-22	29	6	are	be	AUX
gujaf-22	29	7	a	a	DET
gujaf-22	29	8	popular	popular	ADJ
gujaf-22	29	9	means	mean	NOUN
gujaf-22	29	10	of	of	ADP
gujaf-22	29	11	raising	raise	VERB
gujaf-22	29	12	capital	capital	NOUN
gujaf-22	29	13	,	,	PUNCT
gujaf-22	29	14	it	it	PRON
gujaf-22	29	15	has	have	AUX
gujaf-22	29	16	since	since	ADV
gujaf-22	29	17	been	be	AUX
gujaf-22	29	18	established	establish	VERB
gujaf-22	29	19	theoretically	theoretically	ADV
gujaf-22	29	20	and	and	CCONJ
gujaf-22	29	21	empirically	empirically	ADV
gujaf-22	29	22	that	that	SCONJ
gujaf-22	29	23	seos	seo	NOUN
gujaf-22	29	24	are	be	AUX
gujaf-22	29	25	a	a	DET
gujaf-22	29	26	strong	strong	ADJ
gujaf-22	29	27	tool	tool	NOUN
gujaf-22	29	28	for	for	SCONJ
gujaf-22	29	29	managers	manager	NOUN
gujaf-22	29	30	to	to	PART
gujaf-22	29	31	signal	signal	VERB
gujaf-22	29	32	to	to	ADP
gujaf-22	29	33	the	the	DET
gujaf-22	29	34	market	market	NOUN
gujaf-22	29	35	about	about	ADP
gujaf-22	29	36	the	the	DET
gujaf-22	29	37	current	current	ADJ
gujaf-22	29	38	underlying	underlie	VERB
gujaf-22	29	39	value	value	NOUN
gujaf-22	29	40	of	of	ADP
gujaf-22	29	41	the	the	DET
gujaf-22	29	42	firm	firm	NOUN
gujaf-22	29	43	(	(	PUNCT
gujaf-22	29	44	leland	leland	PROPN
gujaf-22	29	45	&	&	CCONJ
gujaf-22	29	46	pyle	pyle	PROPN
gujaf-22	29	47	,	,	PUNCT
gujaf-22	29	48	1977	1977	NUM
gujaf-22	29	49	;	;	PUNCT
gujaf-22	29	50	myers	myers	PROPN
gujaf-22	29	51	&	&	CCONJ
gujaf-22	29	52	majluf	majluf	PROPN
gujaf-22	29	53	,	,	PUNCT
gujaf-22	29	54	1984	1984	NUM
gujaf-22	29	55	;	;	PUNCT
gujaf-22	29	56	masulis	masulis	PROPN
gujaf-22	29	57	&	&	CCONJ
gujaf-22	29	58	korwar	korwar	PROPN
gujaf-22	29	59	,	,	PUNCT
gujaf-22	29	60	1986	1986	NUM
gujaf-22	29	61	)	)	PUNCT
gujaf-22	29	62	.	.	PUNCT
gujaf-22	30	1	stock	stock	NOUN
gujaf-22	30	2	market	market	NOUN
gujaf-22	30	3	reaction	reaction	NOUN
gujaf-22	30	4	to	to	ADP
gujaf-22	30	5	seos	seo	NOUN
gujaf-22	30	6	is	be	AUX
gujaf-22	30	7	commonly	commonly	ADV
gujaf-22	30	8	investigated	investigate	VERB
gujaf-22	30	9	using	use	VERB
gujaf-22	30	10	the	the	DET
gujaf-22	30	11	event	event	NOUN
gujaf-22	30	12	study	study	NOUN
gujaf-22	30	13	methodology	methodology	NOUN
gujaf-22	30	14	propounded	propound	VERB
gujaf-22	30	15	by	by	ADP
gujaf-22	30	16	fama	fama	PROPN
gujaf-22	30	17	,	,	PUNCT
gujaf-22	30	18	fisher	fisher	PROPN
gujaf-22	30	19	,	,	PUNCT
gujaf-22	30	20	jensen	jensen	PROPN
gujaf-22	30	21	and	and	CCONJ
gujaf-22	30	22	roll	roll	PROPN
gujaf-22	30	23	(	(	PUNCT
gujaf-22	30	24	1969	1969	NUM
gujaf-22	30	25	)	)	PUNCT
gujaf-22	30	26	,	,	PUNCT
gujaf-22	30	27	and	and	CCONJ
gujaf-22	30	28	popularized	popularize	VERB
gujaf-22	30	29	by	by	ADP
gujaf-22	30	30	brown	brown	PROPN
gujaf-22	30	31	and	and	CCONJ
gujaf-22	30	32	warner	warner	PROPN
gujaf-22	30	33	(	(	PUNCT
gujaf-22	30	34	1985	1985	NUM
gujaf-22	30	35	)	)	PUNCT
gujaf-22	30	36	and	and	CCONJ
gujaf-22	30	37	mackinlay	mackinlay	NOUN
gujaf-22	30	38	(	(	PUNCT
gujaf-22	30	39	1997	1997	NUM
gujaf-22	30	40	)	)	PUNCT
gujaf-22	30	41	.	.	PUNCT
gujaf-22	31	1	according	accord	VERB
gujaf-22	31	2	to	to	ADP
gujaf-22	31	3	ball	ball	NOUN
gujaf-22	31	4	and	and	CCONJ
gujaf-22	31	5	brown	brown	ADJ
gujaf-22	31	6	(	(	PUNCT
gujaf-22	31	7	1968	1968	NUM
gujaf-22	31	8	)	)	PUNCT
gujaf-22	31	9	,	,	PUNCT
gujaf-22	31	10	the	the	DET
gujaf-22	31	11	event	event	NOUN
gujaf-22	31	12	study	study	NOUN
gujaf-22	31	13	methodology	methodology	NOUN
gujaf-22	31	14	establishes	establish	VERB
gujaf-22	31	15	the	the	DET
gujaf-22	31	16	impact	impact	NOUN
gujaf-22	31	17	of	of	ADP
gujaf-22	31	18	an	an	DET
gujaf-22	31	19	event	event	NOUN
gujaf-22	31	20	by	by	ADP
gujaf-22	31	21	computing	compute	VERB
gujaf-22	31	22	the	the	DET
gujaf-22	31	23	abnormal	abnormal	ADJ
gujaf-22	31	24	return	return	NOUN
gujaf-22	31	25	arising	arise	VERB
gujaf-22	31	26	from	from	ADP
gujaf-22	31	27	the	the	DET
gujaf-22	31	28	announcement	announcement	NOUN
gujaf-22	31	29	of	of	ADP
gujaf-22	31	30	such	such	DET
gujaf-22	31	31	an	an	DET
gujaf-22	31	32	event	event	NOUN
gujaf-22	31	33	.	.	PUNCT
gujaf-22	32	1	abnormal	abnormal	ADJ
gujaf-22	32	2	return	return	NOUN
gujaf-22	32	3	is	be	AUX
gujaf-22	32	4	the	the	DET
gujaf-22	32	5	difference	difference	NOUN
gujaf-22	32	6	between	between	ADP
gujaf-22	32	7	the	the	DET
gujaf-22	32	8	return	return	NOUN
gujaf-22	32	9	as	as	ADP
gujaf-22	32	10	a	a	DET
gujaf-22	32	11	result	result	NOUN
gujaf-22	32	12	of	of	ADP
gujaf-22	32	13	the	the	DET
gujaf-22	32	14	announcement	announcement	NOUN
gujaf-22	32	15	and	and	CCONJ
gujaf-22	32	16	what	what	PRON
gujaf-22	32	17	the	the	DET
gujaf-22	32	18	return	return	NOUN
gujaf-22	32	19	would	would	AUX
gujaf-22	32	20	have	have	AUX
gujaf-22	32	21	been	be	AUX
gujaf-22	32	22	had	have	VERB
gujaf-22	32	23	the	the	DET
gujaf-22	32	24	announcement	announcement	NOUN
gujaf-22	32	25	not	not	PART
gujaf-22	32	26	been	be	AUX
gujaf-22	32	27	made	make	VERB
gujaf-22	32	28	.	.	PUNCT
gujaf-22	33	1	empirical	empirical	ADJ
gujaf-22	33	2	evidence	evidence	NOUN
gujaf-22	33	3	suggests	suggest	VERB
gujaf-22	33	4	that	that	SCONJ
gujaf-22	33	5	seo	seo	NOUN
gujaf-22	33	6	announcements	announcement	NOUN
gujaf-22	33	7	can	can	AUX
gujaf-22	33	8	have	have	VERB
gujaf-22	33	9	positive	positive	ADJ
gujaf-22	33	10	or	or	CCONJ
gujaf-22	33	11	no	no	PRON
gujaf-22	33	12	effect	effect	NOUN
gujaf-22	33	13	on	on	ADP
gujaf-22	33	14	market	market	NOUN
gujaf-22	33	15	value	value	NOUN
gujaf-22	33	16	,	,	PUNCT
gujaf-22	33	17	but	but	CCONJ
gujaf-22	33	18	preponderance	preponderance	NOUN
gujaf-22	33	19	of	of	ADP
gujaf-22	33	20	studies	study	NOUN
gujaf-22	33	21	support	support	VERB
gujaf-22	33	22	the	the	DET
gujaf-22	33	23	notion	notion	NOUN
gujaf-22	33	24	that	that	SCONJ
gujaf-22	33	25	markets	market	NOUN
gujaf-22	33	26	react	react	VERB
gujaf-22	33	27	negatively	negatively	ADV
gujaf-22	33	28	to	to	ADP
gujaf-22	33	29	seo	seo	NOUN
gujaf-22	33	30	announcements	announcement	NOUN
gujaf-22	33	31	in	in	ADP
gujaf-22	33	32	line	line	NOUN
gujaf-22	33	33	with	with	ADP
gujaf-22	33	34	the	the	DET
gujaf-22	33	35	fact	fact	NOUN
gujaf-22	33	36	that	that	SCONJ
gujaf-22	33	37	market	market	NOUN
gujaf-22	33	38	agents	agent	NOUN
gujaf-22	33	39	perceive	perceive	VERB
gujaf-22	33	40	the	the	DET
gujaf-22	33	41	gujaf	gujaf	NOUN
gujaf-22	33	42	:	:	PUNCT
gujaf-22	33	43	gusau	gusau	PROPN
gujaf-22	33	44	journal	journal	NOUN
gujaf-22	33	45	of	of	ADP
gujaf-22	33	46	accounting	accounting	NOUN
gujaf-22	33	47	and	and	CCONJ
gujaf-22	33	48	finance	finance	NOUN
gujaf-22	33	49	,	,	PUNCT
gujaf-22	33	50	vol	vol	NOUN
gujaf-22	33	51	.	.	PUNCT
gujaf-22	34	1	i	i	PRON
gujaf-22	34	2	,	,	PUNCT
gujaf-22	34	3	issue	issue	NOUN
gujaf-22	34	4	1	1	NUM
gujaf-22	34	5	,	,	PUNCT
gujaf-22	34	6	april	april	PROPN
gujaf-22	34	7	,	,	PUNCT
gujaf-22	34	8	2020	2020	NUM
gujaf-22	34	9	issn	issn	VERB
gujaf-22	34	10	2756	2756	NUM
gujaf-22	34	11	-	-	PUNCT
gujaf-22	34	12	665x	665x	NOUN
gujaf-22	34	13	3	3	NUM
gujaf-22	34	14	announcement	announcement	NOUN
gujaf-22	34	15	as	as	ADP
gujaf-22	34	16	a	a	DET
gujaf-22	34	17	signal	signal	NOUN
gujaf-22	34	18	of	of	ADP
gujaf-22	34	19	overvaluation	overvaluation	NOUN
gujaf-22	34	20	(	(	PUNCT
gujaf-22	34	21	myers	myers	PROPN
gujaf-22	34	22	&	&	CCONJ
gujaf-22	34	23	majluf	majluf	PROPN
gujaf-22	34	24	,	,	PUNCT
gujaf-22	34	25	1984	1984	NUM
gujaf-22	34	26	;	;	PUNCT
gujaf-22	34	27	masulis	masulis	PROPN
gujaf-22	34	28	&	&	CCONJ
gujaf-22	34	29	korwar	korwar	PROPN
gujaf-22	34	30	,	,	PUNCT
gujaf-22	34	31	1986	1986	NUM
gujaf-22	34	32	)	)	PUNCT
gujaf-22	34	33	.	.	PUNCT
gujaf-22	35	1	as	as	SCONJ
gujaf-22	35	2	is	be	AUX
gujaf-22	35	3	the	the	DET
gujaf-22	35	4	case	case	NOUN
gujaf-22	35	5	in	in	ADP
gujaf-22	35	6	all	all	DET
gujaf-22	35	7	the	the	DET
gujaf-22	35	8	other	other	ADJ
gujaf-22	35	9	stock	stock	NOUN
gujaf-22	35	10	markets	market	NOUN
gujaf-22	35	11	,	,	PUNCT
gujaf-22	35	12	seos	seo	NOUN
gujaf-22	35	13	in	in	ADP
gujaf-22	35	14	nigeria	nigeria	PROPN
gujaf-22	35	15	are	be	AUX
gujaf-22	35	16	as	as	ADV
gujaf-22	35	17	old	old	ADJ
gujaf-22	35	18	as	as	ADP
gujaf-22	35	19	the	the	DET
gujaf-22	35	20	stock	stock	NOUN
gujaf-22	35	21	market	market	NOUN
gujaf-22	35	22	itself	itself	PRON
gujaf-22	35	23	but	but	CCONJ
gujaf-22	35	24	they	they	PRON
gujaf-22	35	25	only	only	ADV
gujaf-22	35	26	became	become	VERB
gujaf-22	35	27	popular	popular	ADJ
gujaf-22	35	28	from	from	ADP
gujaf-22	35	29	july	july	PROPN
gujaf-22	35	30	1995	1995	NUM
gujaf-22	35	31	when	when	SCONJ
gujaf-22	35	32	the	the	DET
gujaf-22	35	33	stock	stock	NOUN
gujaf-22	35	34	market	market	NOUN
gujaf-22	35	35	was	be	AUX
gujaf-22	35	36	liberalized	liberalize	VERB
gujaf-22	35	37	to	to	PART
gujaf-22	35	38	allow	allow	VERB
gujaf-22	35	39	foreign	foreign	ADJ
gujaf-22	35	40	investors	investor	NOUN
gujaf-22	35	41	access	access	NOUN
gujaf-22	35	42	to	to	ADP
gujaf-22	35	43	securities	security	NOUN
gujaf-22	35	44	in	in	ADP
gujaf-22	35	45	nigeria	nigeria	PROPN
gujaf-22	35	46	(	(	PUNCT
gujaf-22	35	47	kim	kim	PROPN
gujaf-22	35	48	&	&	CCONJ
gujaf-22	35	49	singal	singal	PROPN
gujaf-22	35	50	,	,	PUNCT
gujaf-22	35	51	2000	2000	NUM
gujaf-22	35	52	)	)	PUNCT
gujaf-22	35	53	.	.	PUNCT
gujaf-22	36	1	since	since	SCONJ
gujaf-22	36	2	then	then	ADV
gujaf-22	36	3	,	,	PUNCT
gujaf-22	36	4	the	the	DET
gujaf-22	36	5	number	number	NOUN
gujaf-22	36	6	of	of	ADP
gujaf-22	36	7	firms	firm	NOUN
gujaf-22	36	8	conducting	conduct	VERB
gujaf-22	36	9	seos	seo	NOUN
gujaf-22	36	10	in	in	ADP
gujaf-22	36	11	nigeria	nigeria	PROPN
gujaf-22	36	12	has	have	AUX
gujaf-22	36	13	increased	increase	VERB
gujaf-22	36	14	astronomically	astronomically	ADV
gujaf-22	36	15	.	.	PUNCT
gujaf-22	37	1	to	to	PART
gujaf-22	37	2	further	far	ADV
gujaf-22	37	3	boost	boost	VERB
gujaf-22	37	4	investors	investor	NOUN
gujaf-22	37	5	’	’	PART
gujaf-22	37	6	confidence	confidence	NOUN
gujaf-22	37	7	and	and	CCONJ
gujaf-22	37	8	enhance	enhance	VERB
gujaf-22	37	9	performance	performance	NOUN
gujaf-22	37	10	of	of	ADP
gujaf-22	37	11	the	the	DET
gujaf-22	37	12	nigerian	nigerian	ADJ
gujaf-22	37	13	stock	stock	NOUN
gujaf-22	37	14	market	market	NOUN
gujaf-22	37	15	,	,	PUNCT
gujaf-22	37	16	all	all	DET
gujaf-22	37	17	trading	trading	NOUN
gujaf-22	37	18	floors	floor	NOUN
gujaf-22	37	19	were	be	AUX
gujaf-22	37	20	fully	fully	ADV
gujaf-22	37	21	automated	automate	VERB
gujaf-22	37	22	in	in	ADP
gujaf-22	37	23	1999	1999	NUM
gujaf-22	37	24	;	;	PUNCT
gujaf-22	37	25	a	a	DET
gujaf-22	37	26	development	development	NOUN
gujaf-22	37	27	that	that	PRON
gujaf-22	37	28	should	should	AUX
gujaf-22	37	29	theoretically	theoretically	ADV
gujaf-22	37	30	enhance	enhance	VERB
gujaf-22	37	31	efficiency	efficiency	NOUN
gujaf-22	37	32	in	in	ADP
gujaf-22	37	33	the	the	DET
gujaf-22	37	34	speed	speed	NOUN
gujaf-22	37	35	of	of	ADP
gujaf-22	37	36	executing	execute	VERB
gujaf-22	37	37	market	market	NOUN
gujaf-22	37	38	transactions	transaction	NOUN
gujaf-22	37	39	as	as	ADV
gujaf-22	37	40	well	well	ADV
gujaf-22	37	41	as	as	ADP
gujaf-22	37	42	dissemination	dissemination	NOUN
gujaf-22	37	43	of	of	ADP
gujaf-22	37	44	vital	vital	ADJ
gujaf-22	37	45	market	market	NOUN
gujaf-22	37	46	information	information	NOUN
gujaf-22	37	47	.	.	PUNCT
gujaf-22	38	1	previous	previous	ADJ
gujaf-22	38	2	studies	study	NOUN
gujaf-22	38	3	have	have	AUX
gujaf-22	38	4	examined	examine	VERB
gujaf-22	38	5	the	the	DET
gujaf-22	38	6	reaction	reaction	NOUN
gujaf-22	38	7	of	of	ADP
gujaf-22	38	8	nigerian	nigerian	ADJ
gujaf-22	38	9	stock	stock	NOUN
gujaf-22	38	10	market	market	NOUN
gujaf-22	38	11	to	to	ADP
gujaf-22	38	12	corporate	corporate	ADJ
gujaf-22	38	13	announcements	announcement	NOUN
gujaf-22	38	14	such	such	ADJ
gujaf-22	38	15	as	as	ADP
gujaf-22	38	16	dividends	dividend	NOUN
gujaf-22	38	17	,	,	PUNCT
gujaf-22	38	18	stock	stock	NOUN
gujaf-22	38	19	splits	split	NOUN
gujaf-22	38	20	,	,	PUNCT
gujaf-22	38	21	earnings	earning	NOUN
gujaf-22	38	22	,	,	PUNCT
gujaf-22	38	23	and	and	CCONJ
gujaf-22	38	24	management	management	NOUN
gujaf-22	38	25	change	change	NOUN
gujaf-22	38	26	(	(	PUNCT
gujaf-22	38	27	olowe	olowe	NOUN
gujaf-22	38	28	,	,	PUNCT
gujaf-22	38	29	1998	1998	NUM
gujaf-22	38	30	;	;	PUNCT
gujaf-22	38	31	adelegan	adelegan	NOUN
gujaf-22	38	32	,	,	PUNCT
gujaf-22	38	33	2009a	2009a	NUM
gujaf-22	38	34	,	,	PUNCT
gujaf-22	38	35	2009b	2009b	NOUN
gujaf-22	38	36	;	;	PUNCT
gujaf-22	38	37	afego	afego	NOUN
gujaf-22	38	38	,	,	PUNCT
gujaf-22	38	39	2010	2010	NUM
gujaf-22	38	40	)	)	PUNCT
gujaf-22	38	41	.	.	PUNCT
gujaf-22	39	1	however	however	ADV
gujaf-22	39	2	,	,	PUNCT
gujaf-22	39	3	it	it	PRON
gujaf-22	39	4	is	be	AUX
gujaf-22	39	5	surprising	surprising	ADJ
gujaf-22	39	6	that	that	SCONJ
gujaf-22	39	7	despite	despite	SCONJ
gujaf-22	39	8	the	the	DET
gujaf-22	39	9	importance	importance	NOUN
gujaf-22	39	10	of	of	ADP
gujaf-22	39	11	seos	seo	NOUN
gujaf-22	39	12	to	to	ADP
gujaf-22	39	13	the	the	DET
gujaf-22	39	14	corporate	corporate	ADJ
gujaf-22	39	15	survival	survival	NOUN
gujaf-22	39	16	and	and	CCONJ
gujaf-22	39	17	existence	existence	NOUN
gujaf-22	39	18	of	of	ADP
gujaf-22	39	19	a	a	DET
gujaf-22	39	20	firm	firm	NOUN
gujaf-22	39	21	,	,	PUNCT
gujaf-22	39	22	none	none	NOUN
gujaf-22	39	23	of	of	ADP
gujaf-22	39	24	these	these	DET
gujaf-22	39	25	previous	previous	ADJ
gujaf-22	39	26	studies	study	NOUN
gujaf-22	39	27	has	have	AUX
gujaf-22	39	28	attempted	attempt	VERB
gujaf-22	39	29	to	to	PART
gujaf-22	39	30	examine	examine	VERB
gujaf-22	39	31	reaction	reaction	NOUN
gujaf-22	39	32	of	of	ADP
gujaf-22	39	33	the	the	DET
gujaf-22	39	34	nigerian	nigerian	ADJ
gujaf-22	39	35	stock	stock	NOUN
gujaf-22	39	36	market	market	NOUN
gujaf-22	39	37	to	to	ADP
gujaf-22	39	38	seos	seo	NOUN
gujaf-22	39	39	announcements	announcement	NOUN
gujaf-22	39	40	.	.	PUNCT
gujaf-22	40	1	it	it	PRON
gujaf-22	40	2	is	be	AUX
gujaf-22	40	3	equally	equally	ADV
gujaf-22	40	4	worrisome	worrisome	ADJ
gujaf-22	40	5	that	that	SCONJ
gujaf-22	40	6	none	none	NOUN
gujaf-22	40	7	of	of	ADP
gujaf-22	40	8	these	these	DET
gujaf-22	40	9	studies	study	NOUN
gujaf-22	40	10	have	have	AUX
gujaf-22	40	11	paid	pay	VERB
gujaf-22	40	12	attention	attention	NOUN
gujaf-22	40	13	to	to	ADP
gujaf-22	40	14	the	the	DET
gujaf-22	40	15	effect	effect	NOUN
gujaf-22	40	16	the	the	DET
gujaf-22	40	17	deployment	deployment	NOUN
gujaf-22	40	18	of	of	ADP
gujaf-22	40	19	information	information	NOUN
gujaf-22	40	20	and	and	CCONJ
gujaf-22	40	21	communication	communication	NOUN
gujaf-22	40	22	technology	technology	NOUN
gujaf-22	40	23	(	(	PUNCT
gujaf-22	40	24	ict	ict	PROPN
gujaf-22	40	25	)	)	PUNCT
gujaf-22	40	26	,	,	PUNCT
gujaf-22	40	27	in	in	ADP
gujaf-22	40	28	the	the	DET
gujaf-22	40	29	form	form	NOUN
gujaf-22	40	30	of	of	ADP
gujaf-22	40	31	trading	trading	NOUN
gujaf-22	40	32	automation	automation	NOUN
gujaf-22	40	33	,	,	PUNCT
gujaf-22	40	34	may	may	AUX
gujaf-22	40	35	have	have	VERB
gujaf-22	40	36	on	on	ADP
gujaf-22	40	37	the	the	DET
gujaf-22	40	38	market	market	NOUN
gujaf-22	40	39	’s	’s	PART
gujaf-22	40	40	ability	ability	NOUN
gujaf-22	40	41	to	to	PART
gujaf-22	40	42	react	react	VERB
gujaf-22	40	43	to	to	ADP
gujaf-22	40	44	such	such	ADJ
gujaf-22	40	45	corporate	corporate	ADJ
gujaf-22	40	46	announcements	announcement	NOUN
gujaf-22	40	47	.	.	PUNCT
gujaf-22	41	1	according	accord	VERB
gujaf-22	41	2	to	to	ADP
gujaf-22	41	3	d’avolio	d’avolio	PROPN
gujaf-22	41	4	,	,	PUNCT
gujaf-22	41	5	gildor	gildor	NOUN
gujaf-22	41	6	and	and	CCONJ
gujaf-22	41	7	shleifer	shleifer	PROPN
gujaf-22	41	8	(	(	PUNCT
gujaf-22	41	9	2001	2001	NUM
gujaf-22	41	10	)	)	PUNCT
gujaf-22	41	11	,	,	PUNCT
gujaf-22	41	12	omuchesi	omuchesi	NUM
gujaf-22	41	13	,	,	PUNCT
gujaf-22	41	14	bosire	bosire	NOUN
gujaf-22	41	15	and	and	CCONJ
gujaf-22	41	16	muiru	muiru	PROPN
gujaf-22	41	17	(	(	PUNCT
gujaf-22	41	18	2014	2014	NUM
gujaf-22	41	19	)	)	PUNCT
gujaf-22	41	20	,	,	PUNCT
gujaf-22	41	21	lee	lee	PROPN
gujaf-22	41	22	,	,	PUNCT
gujaf-22	41	23	alford	alford	PROPN
gujaf-22	41	24	,	,	PUNCT
gujaf-22	41	25	cresson	cresson	PROPN
gujaf-22	41	26	and	and	CCONJ
gujaf-22	41	27	gardner	gardner	NOUN
gujaf-22	41	28	(	(	PUNCT
gujaf-22	41	29	2017	2017	NUM
gujaf-22	41	30	)	)	PUNCT
gujaf-22	41	31	and	and	CCONJ
gujaf-22	41	32	lee	lee	PROPN
gujaf-22	41	33	,	,	PUNCT
gujaf-22	41	34	tsai	tsai	PROPN
gujaf-22	41	35	,	,	PUNCT
gujaf-22	41	36	chen	chen	PROPN
gujaf-22	41	37	and	and	CCONJ
gujaf-22	41	38	lio	lio	PROPN
gujaf-22	41	39	(	(	PUNCT
gujaf-22	41	40	2019	2019	NUM
gujaf-22	41	41	)	)	PUNCT
gujaf-22	41	42	,	,	PUNCT
gujaf-22	41	43	deployment	deployment	NOUN
gujaf-22	41	44	of	of	ADP
gujaf-22	41	45	ict	ict	PROPN
gujaf-22	41	46	to	to	ADP
gujaf-22	41	47	stock	stock	NOUN
gujaf-22	41	48	markets	market	NOUN
gujaf-22	41	49	helps	help	VERB
gujaf-22	41	50	market	market	NOUN
gujaf-22	41	51	participants	participant	NOUN
gujaf-22	41	52	to	to	PART
gujaf-22	41	53	make	make	VERB
gujaf-22	41	54	more	more	ADV
gujaf-22	41	55	informed	informed	ADJ
gujaf-22	41	56	investment	investment	NOUN
gujaf-22	41	57	decisions	decision	NOUN
gujaf-22	41	58	at	at	ADP
gujaf-22	41	59	reduced	reduce	VERB
gujaf-22	41	60	risks	risk	NOUN
gujaf-22	41	61	.	.	PUNCT
gujaf-22	42	1	the	the	DET
gujaf-22	42	2	works	work	NOUN
gujaf-22	42	3	of	of	ADP
gujaf-22	42	4	odeleye	odeleye	NOUN
gujaf-22	42	5	(	(	PUNCT
gujaf-22	42	6	2009	2009	NUM
gujaf-22	42	7	)	)	PUNCT
gujaf-22	42	8	and	and	CCONJ
gujaf-22	42	9	olowe	olowe	NOUN
gujaf-22	42	10	(	(	PUNCT
gujaf-22	42	11	2009	2009	NUM
gujaf-22	42	12	)	)	PUNCT
gujaf-22	42	13	only	only	ADV
gujaf-22	42	14	merely	merely	ADV
gujaf-22	42	15	attempted	attempt	VERB
gujaf-22	42	16	to	to	PART
gujaf-22	42	17	examine	examine	VERB
gujaf-22	42	18	the	the	DET
gujaf-22	42	19	effect	effect	NOUN
gujaf-22	42	20	of	of	ADP
gujaf-22	42	21	automation	automation	NOUN
gujaf-22	42	22	on	on	ADP
gujaf-22	42	23	the	the	DET
gujaf-22	42	24	prices	price	NOUN
gujaf-22	42	25	and	and	CCONJ
gujaf-22	42	26	trading	trading	NOUN
gujaf-22	42	27	volumes	volume	NOUN
gujaf-22	42	28	of	of	ADP
gujaf-22	42	29	listed	list	VERB
gujaf-22	42	30	firms	firm	NOUN
gujaf-22	42	31	on	on	ADP
gujaf-22	42	32	the	the	DET
gujaf-22	42	33	nigerian	nigerian	ADJ
gujaf-22	42	34	stock	stock	NOUN
gujaf-22	42	35	exchange	exchange	NOUN
gujaf-22	42	36	without	without	ADP
gujaf-22	42	37	relating	relate	VERB
gujaf-22	42	38	such	such	ADJ
gujaf-22	42	39	effect	effect	NOUN
gujaf-22	42	40	to	to	ADP
gujaf-22	42	41	corporate	corporate	ADJ
gujaf-22	42	42	actions	action	NOUN
gujaf-22	42	43	such	such	ADJ
gujaf-22	42	44	as	as	ADP
gujaf-22	42	45	seos	seo	NOUN
gujaf-22	42	46	.	.	PUNCT
gujaf-22	43	1	according	accord	VERB
gujaf-22	43	2	to	to	ADP
gujaf-22	43	3	fama	fama	PROPN
gujaf-22	43	4	(	(	PUNCT
gujaf-22	43	5	1998	1998	NUM
gujaf-22	43	6	)	)	PUNCT
gujaf-22	43	7	,	,	PUNCT
gujaf-22	43	8	efficiency	efficiency	NOUN
gujaf-22	43	9	is	be	AUX
gujaf-22	43	10	best	well	ADV
gujaf-22	43	11	tested	test	VERB
gujaf-22	43	12	in	in	ADP
gujaf-22	43	13	relation	relation	NOUN
gujaf-22	43	14	to	to	ADP
gujaf-22	43	15	corporate	corporate	ADJ
gujaf-22	43	16	actions	action	NOUN
gujaf-22	43	17	and	and	CCONJ
gujaf-22	43	18	disclosures	disclosure	NOUN
gujaf-22	43	19	(	(	PUNCT
gujaf-22	43	20	such	such	ADJ
gujaf-22	43	21	as	as	ADP
gujaf-22	43	22	seo	seo	NOUN
gujaf-22	43	23	announcements	announcement	NOUN
gujaf-22	43	24	)	)	PUNCT
gujaf-22	43	25	.	.	PUNCT
gujaf-22	44	1	it	it	PRON
gujaf-22	44	2	is	be	AUX
gujaf-22	44	3	thus	thus	ADV
gujaf-22	44	4	obvious	obvious	ADJ
gujaf-22	44	5	that	that	SCONJ
gujaf-22	44	6	previous	previous	ADJ
gujaf-22	44	7	studies	study	NOUN
gujaf-22	44	8	on	on	ADP
gujaf-22	44	9	corporate	corporate	ADJ
gujaf-22	44	10	events	event	NOUN
gujaf-22	44	11	’	'	PUNCT
gujaf-22	44	12	announcements	announcement	NOUN
gujaf-22	44	13	in	in	ADP
gujaf-22	44	14	nigeria	nigeria	PROPN
gujaf-22	44	15	have	have	AUX
gujaf-22	44	16	ignored	ignore	VERB
gujaf-22	44	17	seos	seo	NOUN
gujaf-22	44	18	and	and	CCONJ
gujaf-22	44	19	the	the	DET
gujaf-22	44	20	effect	effect	NOUN
gujaf-22	44	21	of	of	ADP
gujaf-22	44	22	stock	stock	NOUN
gujaf-22	44	23	market	market	NOUN
gujaf-22	44	24	automation	automation	NOUN
gujaf-22	44	25	on	on	ADP
gujaf-22	44	26	the	the	DET
gujaf-22	44	27	market	market	NOUN
gujaf-22	44	28	’s	’s	PART
gujaf-22	44	29	reaction	reaction	NOUN
gujaf-22	44	30	to	to	ADP
gujaf-22	44	31	seo	seo	NOUN
gujaf-22	44	32	announcements	announcement	NOUN
gujaf-22	44	33	.	.	PUNCT
gujaf-22	45	1	it	it	PRON
gujaf-22	45	2	is	be	AUX
gujaf-22	45	3	against	against	ADP
gujaf-22	45	4	this	this	DET
gujaf-22	45	5	background	background	NOUN
gujaf-22	45	6	that	that	SCONJ
gujaf-22	45	7	this	this	DET
gujaf-22	45	8	study	study	NOUN
gujaf-22	45	9	was	be	AUX
gujaf-22	45	10	conducted	conduct	VERB
gujaf-22	45	11	to	to	PART
gujaf-22	45	12	examine	examine	VERB
gujaf-22	45	13	the	the	DET
gujaf-22	45	14	reaction	reaction	NOUN
gujaf-22	45	15	of	of	ADP
gujaf-22	45	16	the	the	DET
gujaf-22	45	17	nigerian	nigerian	ADJ
gujaf-22	45	18	stock	stock	NOUN
gujaf-22	45	19	market	market	NOUN
gujaf-22	45	20	to	to	ADP
gujaf-22	45	21	seos	seo	NOUN
gujaf-22	45	22	announcements	announcement	NOUN
gujaf-22	45	23	.	.	PUNCT
gujaf-22	46	1	the	the	DET
gujaf-22	46	2	study	study	NOUN
gujaf-22	46	3	also	also	ADV
gujaf-22	46	4	examined	examine	VERB
gujaf-22	46	5	effect	effect	NOUN
gujaf-22	46	6	of	of	ADP
gujaf-22	46	7	trading	trading	NOUN
gujaf-22	46	8	automation	automation	NOUN
gujaf-22	46	9	on	on	ADP
gujaf-22	46	10	efficiency	efficiency	NOUN
gujaf-22	46	11	of	of	ADP
gujaf-22	46	12	the	the	DET
gujaf-22	46	13	nigerian	nigerian	ADJ
gujaf-22	46	14	stock	stock	NOUN
gujaf-22	46	15	market	market	NOUN
gujaf-22	46	16	during	during	ADP
gujaf-22	46	17	periods	period	NOUN
gujaf-22	46	18	of	of	ADP
gujaf-22	46	19	seos	seo	NOUN
gujaf-22	46	20	announcements	announcement	NOUN
gujaf-22	46	21	.	.	PUNCT
gujaf-22	47	1	gujaf	gujaf	NOUN
gujaf-22	47	2	:	:	PUNCT
gujaf-22	47	3	gusau	gusau	PROPN
gujaf-22	47	4	journal	journal	NOUN
gujaf-22	47	5	of	of	ADP
gujaf-22	47	6	accounting	accounting	NOUN
gujaf-22	47	7	and	and	CCONJ
gujaf-22	47	8	finance	finance	NOUN
gujaf-22	47	9	,	,	PUNCT
gujaf-22	47	10	vol	vol	NOUN
gujaf-22	47	11	.	.	PUNCT
gujaf-22	48	1	i	i	PRON
gujaf-22	48	2	,	,	PUNCT
gujaf-22	48	3	issue	issue	NOUN
gujaf-22	48	4	1	1	NUM
gujaf-22	48	5	,	,	PUNCT
gujaf-22	48	6	april	april	PROPN
gujaf-22	48	7	,	,	PUNCT
gujaf-22	48	8	2020	2020	NUM
gujaf-22	48	9	issn	issn	VERB
gujaf-22	48	10	2756	2756	NUM
gujaf-22	48	11	-	-	PUNCT
gujaf-22	48	12	665x	665x	NOUN
gujaf-22	48	13	4	4	NUM
gujaf-22	48	14	the	the	DET
gujaf-22	48	15	rest	rest	NOUN
gujaf-22	48	16	of	of	ADP
gujaf-22	48	17	the	the	DET
gujaf-22	48	18	paper	paper	NOUN
gujaf-22	48	19	is	be	AUX
gujaf-22	48	20	structured	structure	VERB
gujaf-22	48	21	as	as	SCONJ
gujaf-22	48	22	follows	follow	VERB
gujaf-22	48	23	:	:	PUNCT
gujaf-22	48	24	section	section	NOUN
gujaf-22	48	25	2	2	NUM
gujaf-22	48	26	reviews	review	NOUN
gujaf-22	48	27	literature	literature	NOUN
gujaf-22	48	28	and	and	CCONJ
gujaf-22	48	29	the	the	DET
gujaf-22	48	30	study	study	NOUN
gujaf-22	48	31	’s	’s	PART
gujaf-22	48	32	underpinning	underpinning	ADJ
gujaf-22	48	33	theory	theory	NOUN
gujaf-22	48	34	,	,	PUNCT
gujaf-22	48	35	section	section	NOUN
gujaf-22	48	36	3	3	NUM
gujaf-22	48	37	presents	present	NOUN
gujaf-22	48	38	methodology	methodology	NOUN
gujaf-22	48	39	adopted	adopt	VERB
gujaf-22	48	40	by	by	ADP
gujaf-22	48	41	the	the	DET
gujaf-22	48	42	paper	paper	NOUN
gujaf-22	48	43	,	,	PUNCT
gujaf-22	48	44	section	section	NOUN
gujaf-22	48	45	4	4	NUM
gujaf-22	48	46	analyzes	analyze	VERB
gujaf-22	48	47	and	and	CCONJ
gujaf-22	48	48	discusses	discuss	VERB
gujaf-22	48	49	the	the	DET
gujaf-22	48	50	results	result	NOUN
gujaf-22	48	51	,	,	PUNCT
gujaf-22	48	52	section	section	NOUN
gujaf-22	48	53	5	5	NUM
gujaf-22	48	54	concludes	conclude	VERB
gujaf-22	48	55	the	the	DET
gujaf-22	48	56	paper	paper	NOUN
gujaf-22	48	57	and	and	CCONJ
gujaf-22	48	58	recommends	recommend	VERB
gujaf-22	48	59	appropriate	appropriate	ADJ
gujaf-22	48	60	courses	course	NOUN
gujaf-22	48	61	of	of	ADP
gujaf-22	48	62	action	action	NOUN
gujaf-22	48	63	.	.	PUNCT
gujaf-22	49	1	2	2	X
gujaf-22	49	2	.	.	X
gujaf-22	49	3	literature	literature	NOUN
gujaf-22	49	4	review	review	VERB
gujaf-22	49	5	there	there	PRON
gujaf-22	49	6	is	be	VERB
gujaf-22	49	7	sufficient	sufficient	ADJ
gujaf-22	49	8	empirical	empirical	ADJ
gujaf-22	49	9	evidence	evidence	NOUN
gujaf-22	49	10	in	in	ADP
gujaf-22	49	11	the	the	DET
gujaf-22	49	12	literature	literature	NOUN
gujaf-22	49	13	supporting	support	VERB
gujaf-22	49	14	the	the	DET
gujaf-22	49	15	fact	fact	NOUN
gujaf-22	49	16	that	that	SCONJ
gujaf-22	49	17	stock	stock	NOUN
gujaf-22	49	18	markets	market	NOUN
gujaf-22	49	19	react	react	VERB
gujaf-22	49	20	to	to	ADP
gujaf-22	49	21	seos	seo	NOUN
gujaf-22	49	22	announcements	announcement	NOUN
gujaf-22	49	23	.	.	PUNCT
gujaf-22	50	1	however	however	ADV
gujaf-22	50	2	,	,	PUNCT
gujaf-22	50	3	most	most	ADJ
gujaf-22	50	4	of	of	ADP
gujaf-22	50	5	these	these	DET
gujaf-22	50	6	studies	study	NOUN
gujaf-22	50	7	are	be	AUX
gujaf-22	50	8	domiciled	domicile	VERB
gujaf-22	50	9	in	in	ADP
gujaf-22	50	10	developed	develop	VERB
gujaf-22	50	11	and	and	CCONJ
gujaf-22	50	12	other	other	ADJ
gujaf-22	50	13	emerging	emerge	VERB
gujaf-22	50	14	markets	market	NOUN
gujaf-22	50	15	to	to	ADP
gujaf-22	50	16	the	the	DET
gujaf-22	50	17	exclusion	exclusion	NOUN
gujaf-22	50	18	of	of	ADP
gujaf-22	50	19	african	african	ADJ
gujaf-22	50	20	stock	stock	NOUN
gujaf-22	50	21	markets	market	NOUN
gujaf-22	50	22	such	such	ADJ
gujaf-22	50	23	as	as	ADP
gujaf-22	50	24	nigeria	nigeria	PROPN
gujaf-22	50	25	.	.	PUNCT
gujaf-22	51	1	one	one	NUM
gujaf-22	51	2	of	of	ADP
gujaf-22	51	3	the	the	DET
gujaf-22	51	4	few	few	ADJ
gujaf-22	51	5	studies	study	NOUN
gujaf-22	51	6	on	on	ADP
gujaf-22	51	7	seos	seo	NOUN
gujaf-22	51	8	covering	cover	VERB
gujaf-22	51	9	african	african	ADJ
gujaf-22	51	10	stock	stock	NOUN
gujaf-22	51	11	markets	market	NOUN
gujaf-22	51	12	is	be	AUX
gujaf-22	51	13	bhana	bhana	VERB
gujaf-22	51	14	(	(	PUNCT
gujaf-22	51	15	1998	1998	NUM
gujaf-22	51	16	)	)	PUNCT
gujaf-22	51	17	that	that	PRON
gujaf-22	51	18	examined	examine	VERB
gujaf-22	51	19	reaction	reaction	NOUN
gujaf-22	51	20	of	of	ADP
gujaf-22	51	21	the	the	DET
gujaf-22	51	22	johannesburg	johannesburg	PROPN
gujaf-22	51	23	stock	stock	PROPN
gujaf-22	51	24	exchange	exchange	PROPN
gujaf-22	51	25	(	(	PUNCT
gujaf-22	51	26	jse	jse	PROPN
gujaf-22	51	27	)	)	PUNCT
gujaf-22	51	28	to	to	ADP
gujaf-22	51	29	seos	seo	NOUN
gujaf-22	51	30	announcements	announcement	NOUN
gujaf-22	51	31	from	from	ADP
gujaf-22	51	32	1980	1980	NUM
gujaf-22	51	33	t0	t0	NOUN
gujaf-22	51	34	1995	1995	NUM
gujaf-22	51	35	based	base	VERB
gujaf-22	51	36	on	on	ADP
gujaf-22	51	37	a	a	DET
gujaf-22	51	38	sample	sample	NOUN
gujaf-22	51	39	of	of	ADP
gujaf-22	51	40	100	100	NUM
gujaf-22	51	41	announcements	announcement	NOUN
gujaf-22	51	42	.	.	PUNCT
gujaf-22	52	1	the	the	DET
gujaf-22	52	2	study	study	NOUN
gujaf-22	52	3	documented	document	VERB
gujaf-22	52	4	significant	significant	ADJ
gujaf-22	52	5	negative	negative	ADJ
gujaf-22	52	6	announcement	announcement	NOUN
gujaf-22	52	7	day	day	NOUN
gujaf-22	52	8	effect	effect	NOUN
gujaf-22	52	9	and	and	CCONJ
gujaf-22	52	10	thus	thus	ADV
gujaf-22	52	11	concluded	conclude	VERB
gujaf-22	52	12	that	that	SCONJ
gujaf-22	52	13	the	the	DET
gujaf-22	52	14	south	south	ADJ
gujaf-22	52	15	african	african	ADJ
gujaf-22	52	16	stock	stock	NOUN
gujaf-22	52	17	market	market	NOUN
gujaf-22	52	18	reacts	react	VERB
gujaf-22	52	19	negatively	negatively	ADV
gujaf-22	52	20	to	to	ADP
gujaf-22	52	21	seos	seo	NOUN
gujaf-22	52	22	.	.	PUNCT
gujaf-22	53	1	however	however	ADV
gujaf-22	53	2	,	,	PUNCT
gujaf-22	53	3	the	the	DET
gujaf-22	53	4	study	study	NOUN
gujaf-22	53	5	did	do	AUX
gujaf-22	53	6	not	not	PART
gujaf-22	53	7	control	control	VERB
gujaf-22	53	8	for	for	ADP
gujaf-22	53	9	effect	effect	NOUN
gujaf-22	53	10	of	of	ADP
gujaf-22	53	11	volatility	volatility	NOUN
gujaf-22	53	12	on	on	ADP
gujaf-22	53	13	returns	return	NOUN
gujaf-22	53	14	.	.	PUNCT
gujaf-22	54	1	the	the	DET
gujaf-22	54	2	study	study	NOUN
gujaf-22	54	3	of	of	ADP
gujaf-22	54	4	seos	seo	NOUN
gujaf-22	54	5	is	be	AUX
gujaf-22	54	6	more	more	ADV
gujaf-22	54	7	common	common	ADJ
gujaf-22	54	8	among	among	ADP
gujaf-22	54	9	developed	develop	VERB
gujaf-22	54	10	and	and	CCONJ
gujaf-22	54	11	other	other	ADJ
gujaf-22	54	12	emerging	emerge	VERB
gujaf-22	54	13	markets	market	NOUN
gujaf-22	54	14	.	.	PUNCT
gujaf-22	55	1	dissing	diss	VERB
gujaf-22	55	2	,	,	PUNCT
gujaf-22	55	3	rasmussen	rasmussen	PROPN
gujaf-22	55	4	and	and	CCONJ
gujaf-22	55	5	bartholdy	bartholdy	VERB
gujaf-22	55	6	(	(	PUNCT
gujaf-22	55	7	2015	2015	NUM
gujaf-22	55	8	)	)	PUNCT
gujaf-22	55	9	employed	employ	VERB
gujaf-22	55	10	a	a	DET
gujaf-22	55	11	sample	sample	NOUN
gujaf-22	55	12	of	of	ADP
gujaf-22	55	13	342	342	NUM
gujaf-22	55	14	seo	seo	NOUN
gujaf-22	55	15	announcements	announcement	NOUN
gujaf-22	55	16	made	make	VERB
gujaf-22	55	17	across	across	ADP
gujaf-22	55	18	15	15	NUM
gujaf-22	55	19	european	european	ADJ
gujaf-22	55	20	countries	country	NOUN
gujaf-22	55	21	between	between	ADP
gujaf-22	55	22	2000	2000	NUM
gujaf-22	55	23	and	and	CCONJ
gujaf-22	55	24	2010	2010	NUM
gujaf-22	55	25	to	to	PART
gujaf-22	55	26	examine	examine	VERB
gujaf-22	55	27	reaction	reaction	NOUN
gujaf-22	55	28	of	of	ADP
gujaf-22	55	29	stock	stock	NOUN
gujaf-22	55	30	market	market	NOUN
gujaf-22	55	31	to	to	ADP
gujaf-22	55	32	seo	seo	NOUN
gujaf-22	55	33	announcements	announcement	NOUN
gujaf-22	55	34	.	.	PUNCT
gujaf-22	56	1	based	base	VERB
gujaf-22	56	2	on	on	ADP
gujaf-22	56	3	the	the	DET
gujaf-22	56	4	event	event	NOUN
gujaf-22	56	5	study	study	NOUN
gujaf-22	56	6	methodology	methodology	NOUN
gujaf-22	56	7	,	,	PUNCT
gujaf-22	56	8	the	the	DET
gujaf-22	56	9	study	study	NOUN
gujaf-22	56	10	found	find	VERB
gujaf-22	56	11	negative	negative	ADJ
gujaf-22	56	12	and	and	CCONJ
gujaf-22	56	13	strongly	strongly	ADV
gujaf-22	56	14	significant	significant	ADJ
gujaf-22	56	15	reaction	reaction	NOUN
gujaf-22	56	16	on	on	ADP
gujaf-22	56	17	the	the	DET
gujaf-22	56	18	announcement	announcement	NOUN
gujaf-22	56	19	day	day	NOUN
gujaf-22	56	20	.	.	PUNCT
gujaf-22	57	1	the	the	DET
gujaf-22	57	2	study	study	NOUN
gujaf-22	57	3	concluded	conclude	VERB
gujaf-22	57	4	that	that	SCONJ
gujaf-22	57	5	european	european	ADJ
gujaf-22	57	6	firms	firm	NOUN
gujaf-22	57	7	conducting	conduct	VERB
gujaf-22	57	8	seos	seo	NOUN
gujaf-22	57	9	are	be	AUX
gujaf-22	57	10	perceived	perceive	VERB
gujaf-22	57	11	as	as	SCONJ
gujaf-22	57	12	undervalued	undervalue	VERB
gujaf-22	57	13	by	by	ADP
gujaf-22	57	14	the	the	DET
gujaf-22	57	15	market	market	NOUN
gujaf-22	57	16	.	.	PUNCT
gujaf-22	58	1	however	however	ADV
gujaf-22	58	2	,	,	PUNCT
gujaf-22	58	3	there	there	PRON
gujaf-22	58	4	is	be	VERB
gujaf-22	58	5	no	no	DET
gujaf-22	58	6	evidence	evidence	NOUN
gujaf-22	58	7	the	the	DET
gujaf-22	58	8	study	study	NOUN
gujaf-22	58	9	controlled	control	VERB
gujaf-22	58	10	for	for	ADP
gujaf-22	58	11	effects	effect	NOUN
gujaf-22	58	12	of	of	ADP
gujaf-22	58	13	volatility	volatility	NOUN
gujaf-22	58	14	.	.	PUNCT
gujaf-22	59	1	hammar	hammar	PROPN
gujaf-22	59	2	and	and	CCONJ
gujaf-22	59	3	perman	perman	NOUN
gujaf-22	59	4	(	(	PUNCT
gujaf-22	59	5	2015	2015	NUM
gujaf-22	59	6	)	)	PUNCT
gujaf-22	59	7	investigated	investigate	VERB
gujaf-22	59	8	reaction	reaction	NOUN
gujaf-22	59	9	of	of	ADP
gujaf-22	59	10	the	the	DET
gujaf-22	59	11	swedish	swedish	ADJ
gujaf-22	59	12	stock	stock	NOUN
gujaf-22	59	13	market	market	NOUN
gujaf-22	59	14	to	to	ADP
gujaf-22	59	15	seo	seo	NOUN
gujaf-22	59	16	announcements	announcement	NOUN
gujaf-22	59	17	using	use	VERB
gujaf-22	59	18	a	a	DET
gujaf-22	59	19	sample	sample	NOUN
gujaf-22	59	20	of	of	ADP
gujaf-22	59	21	253	253	NUM
gujaf-22	59	22	offers	offer	NOUN
gujaf-22	59	23	from	from	ADP
gujaf-22	59	24	november	november	PROPN
gujaf-22	59	25	2006	2006	NUM
gujaf-22	59	26	to	to	ADP
gujaf-22	59	27	december	december	PROPN
gujaf-22	59	28	2013	2013	NUM
gujaf-22	59	29	.	.	PUNCT
gujaf-22	60	1	using	use	VERB
gujaf-22	60	2	the	the	DET
gujaf-22	60	3	event	event	NOUN
gujaf-22	60	4	study	study	NOUN
gujaf-22	60	5	methodology	methodology	NOUN
gujaf-22	60	6	,	,	PUNCT
gujaf-22	60	7	the	the	DET
gujaf-22	60	8	study	study	NOUN
gujaf-22	60	9	found	find	VERB
gujaf-22	60	10	negative	negative	ADJ
gujaf-22	60	11	and	and	CCONJ
gujaf-22	60	12	significant	significant	ADJ
gujaf-22	60	13	effect	effect	NOUN
gujaf-22	60	14	on	on	ADP
gujaf-22	60	15	the	the	DET
gujaf-22	60	16	announcement	announcement	NOUN
gujaf-22	60	17	day	day	NOUN
gujaf-22	60	18	.	.	PUNCT
gujaf-22	61	1	it	it	PRON
gujaf-22	61	2	was	be	AUX
gujaf-22	61	3	concluded	conclude	VERB
gujaf-22	61	4	that	that	SCONJ
gujaf-22	61	5	swedish	swedish	ADJ
gujaf-22	61	6	firms	firm	NOUN
gujaf-22	61	7	react	react	VERB
gujaf-22	61	8	negatively	negatively	ADV
gujaf-22	61	9	to	to	ADP
gujaf-22	61	10	seos	seo	NOUN
gujaf-22	61	11	.	.	PUNCT
gujaf-22	62	1	however	however	ADV
gujaf-22	62	2	,	,	PUNCT
gujaf-22	62	3	the	the	DET
gujaf-22	62	4	study	study	NOUN
gujaf-22	62	5	did	do	AUX
gujaf-22	62	6	not	not	PART
gujaf-22	62	7	control	control	VERB
gujaf-22	62	8	for	for	ADP
gujaf-22	62	9	the	the	DET
gujaf-22	62	10	effect	effect	NOUN
gujaf-22	62	11	of	of	ADP
gujaf-22	62	12	volatility	volatility	NOUN
gujaf-22	62	13	.	.	PUNCT
gujaf-22	63	1	liu	liu	PROPN
gujaf-22	63	2	,	,	PUNCT
gujaf-22	63	3	et	et	PROPN
gujaf-22	63	4	al	al	PROPN
gujaf-22	63	5	.	.	PUNCT
gujaf-22	64	1	(	(	PUNCT
gujaf-22	64	2	2016	2016	NUM
gujaf-22	64	3	)	)	PUNCT
gujaf-22	64	4	analyzed	analyze	VERB
gujaf-22	64	5	market	market	NOUN
gujaf-22	64	6	reaction	reaction	NOUN
gujaf-22	64	7	to	to	ADP
gujaf-22	64	8	seo	seo	NOUN
gujaf-22	64	9	announcements	announcement	NOUN
gujaf-22	64	10	in	in	ADP
gujaf-22	64	11	china	china	PROPN
gujaf-22	64	12	from	from	ADP
gujaf-22	64	13	1991	1991	NUM
gujaf-22	64	14	to	to	ADP
gujaf-22	64	15	2010	2010	NUM
gujaf-22	64	16	using	use	VERB
gujaf-22	64	17	a	a	DET
gujaf-22	64	18	total	total	ADJ
gujaf-22	64	19	sample	sample	NOUN
gujaf-22	64	20	of	of	ADP
gujaf-22	64	21	1,659	1,659	NUM
gujaf-22	64	22	announcements	announcement	NOUN
gujaf-22	64	23	.	.	PUNCT
gujaf-22	65	1	the	the	DET
gujaf-22	65	2	study	study	NOUN
gujaf-22	65	3	employed	employ	VERB
gujaf-22	65	4	event	event	NOUN
gujaf-22	65	5	studies	study	NOUN
gujaf-22	65	6	in	in	ADP
gujaf-22	65	7	its	its	PRON
gujaf-22	65	8	analysis	analysis	NOUN
gujaf-22	65	9	and	and	CCONJ
gujaf-22	65	10	found	find	VERB
gujaf-22	65	11	that	that	SCONJ
gujaf-22	65	12	rights	right	NOUN
gujaf-22	65	13	issues	issue	NOUN
gujaf-22	65	14	and	and	CCONJ
gujaf-22	65	15	open	open	ADJ
gujaf-22	65	16	offers	offer	NOUN
gujaf-22	65	17	recorded	record	VERB
gujaf-22	65	18	negative	negative	ADJ
gujaf-22	65	19	and	and	CCONJ
gujaf-22	65	20	significant	significant	ADJ
gujaf-22	65	21	market	market	NOUN
gujaf-22	65	22	reaction	reaction	NOUN
gujaf-22	65	23	while	while	SCONJ
gujaf-22	65	24	private	private	ADJ
gujaf-22	65	25	placements	placement	NOUN
gujaf-22	65	26	and	and	CCONJ
gujaf-22	65	27	convertible	convertible	ADJ
gujaf-22	65	28	debts	debt	NOUN
gujaf-22	65	29	experienced	experience	VERB
gujaf-22	65	30	positive	positive	ADJ
gujaf-22	65	31	market	market	NOUN
gujaf-22	65	32	effects	effect	NOUN
gujaf-22	65	33	.	.	PUNCT
gujaf-22	66	1	it	it	PRON
gujaf-22	66	2	was	be	AUX
gujaf-22	66	3	concluded	conclude	VERB
gujaf-22	66	4	that	that	SCONJ
gujaf-22	66	5	negative	negative	ADJ
gujaf-22	66	6	reaction	reaction	NOUN
gujaf-22	66	7	to	to	ADP
gujaf-22	66	8	seos	seos	PROPN
gujaf-22	66	9	is	be	AUX
gujaf-22	66	10	as	as	ADP
gujaf-22	66	11	a	a	DET
gujaf-22	66	12	result	result	NOUN
gujaf-22	66	13	of	of	ADP
gujaf-22	66	14	market	market	NOUN
gujaf-22	66	15	’s	’s	PART
gujaf-22	66	16	perception	perception	NOUN
gujaf-22	66	17	of	of	ADP
gujaf-22	66	18	the	the	DET
gujaf-22	66	19	offers	offer	NOUN
gujaf-22	66	20	as	as	ADP
gujaf-22	66	21	overvalued	overvalue	VERB
gujaf-22	66	22	.	.	PUNCT
gujaf-22	67	1	however	however	ADV
gujaf-22	67	2	,	,	PUNCT
gujaf-22	67	3	the	the	DET
gujaf-22	67	4	study	study	NOUN
gujaf-22	67	5	did	do	AUX
gujaf-22	67	6	not	not	PART
gujaf-22	67	7	control	control	VERB
gujaf-22	67	8	for	for	ADP
gujaf-22	67	9	the	the	DET
gujaf-22	67	10	effects	effect	NOUN
gujaf-22	67	11	of	of	ADP
gujaf-22	67	12	volatility	volatility	NOUN
gujaf-22	67	13	on	on	ADP
gujaf-22	67	14	returns	return	NOUN
gujaf-22	67	15	.	.	PUNCT
gujaf-22	68	1	brau	brau	PROPN
gujaf-22	68	2	and	and	CCONJ
gujaf-22	68	3	carpenter	carpenter	PROPN
gujaf-22	68	4	(	(	PUNCT
gujaf-22	68	5	2017	2017	NUM
gujaf-22	68	6	)	)	PUNCT
gujaf-22	68	7	employed	employ	VERB
gujaf-22	68	8	a	a	DET
gujaf-22	68	9	sample	sample	NOUN
gujaf-22	68	10	of	of	ADP
gujaf-22	68	11	547	547	NUM
gujaf-22	68	12	seos	seo	NOUN
gujaf-22	68	13	in	in	ADP
gujaf-22	68	14	the	the	DET
gujaf-22	68	15	us	we	PRON
gujaf-22	68	16	between	between	ADP
gujaf-22	68	17	2008	2008	NUM
gujaf-22	68	18	and	and	CCONJ
gujaf-22	68	19	2016	2016	NUM
gujaf-22	68	20	to	to	PART
gujaf-22	68	21	investigate	investigate	VERB
gujaf-22	68	22	the	the	DET
gujaf-22	68	23	behavior	behavior	NOUN
gujaf-22	68	24	of	of	ADP
gujaf-22	68	25	healthcare	healthcare	NOUN
gujaf-22	68	26	firms	firm	NOUN
gujaf-22	68	27	after	after	ADP
gujaf-22	68	28	the	the	DET
gujaf-22	68	29	global	global	ADJ
gujaf-22	68	30	financial	financial	ADJ
gujaf-22	68	31	crisis	crisis	NOUN
gujaf-22	68	32	.	.	PUNCT
gujaf-22	69	1	the	the	DET
gujaf-22	69	2	study	study	NOUN
gujaf-22	69	3	,	,	PUNCT
gujaf-22	69	4	which	which	PRON
gujaf-22	69	5	utilized	utilize	VERB
gujaf-22	69	6	event	event	NOUN
gujaf-22	69	7	gujaf	gujaf	NOUN
gujaf-22	69	8	:	:	PUNCT
gujaf-22	69	9	gusau	gusau	PROPN
gujaf-22	69	10	journal	journal	NOUN
gujaf-22	69	11	of	of	ADP
gujaf-22	69	12	accounting	accounting	NOUN
gujaf-22	69	13	and	and	CCONJ
gujaf-22	69	14	finance	finance	NOUN
gujaf-22	69	15	,	,	PUNCT
gujaf-22	69	16	vol	vol	NOUN
gujaf-22	69	17	.	.	PUNCT
gujaf-22	70	1	i	i	PRON
gujaf-22	70	2	,	,	PUNCT
gujaf-22	70	3	issue	issue	NOUN
gujaf-22	70	4	1	1	NUM
gujaf-22	70	5	,	,	PUNCT
gujaf-22	70	6	april	april	PROPN
gujaf-22	70	7	,	,	PUNCT
gujaf-22	70	8	2020	2020	NUM
gujaf-22	70	9	issn	issn	VERB
gujaf-22	70	10	2756	2756	NUM
gujaf-22	70	11	-	-	PUNCT
gujaf-22	70	12	665x	665x	NOUN
gujaf-22	70	13	5	5	NUM
gujaf-22	70	14	study	study	NOUN
gujaf-22	70	15	methodology	methodology	NOUN
gujaf-22	70	16	,	,	PUNCT
gujaf-22	70	17	found	find	VERB
gujaf-22	70	18	that	that	SCONJ
gujaf-22	70	19	healthcare	healthcare	NOUN
gujaf-22	70	20	stocks	stock	NOUN
gujaf-22	70	21	have	have	AUX
gujaf-22	70	22	exhibited	exhibit	VERB
gujaf-22	70	23	underpricing	underprice	VERB
gujaf-22	70	24	and	and	CCONJ
gujaf-22	70	25	long	long	ADV
gujaf-22	70	26	-	-	PUNCT
gujaf-22	70	27	run	run	NOUN
gujaf-22	70	28	underperformance	underperformance	NOUN
gujaf-22	70	29	.	.	PUNCT
gujaf-22	71	1	however	however	ADV
gujaf-22	71	2	,	,	PUNCT
gujaf-22	71	3	the	the	DET
gujaf-22	71	4	study	study	NOUN
gujaf-22	71	5	did	do	AUX
gujaf-22	71	6	not	not	PART
gujaf-22	71	7	provide	provide	VERB
gujaf-22	71	8	evidence	evidence	NOUN
gujaf-22	71	9	of	of	ADP
gujaf-22	71	10	control	control	NOUN
gujaf-22	71	11	for	for	ADP
gujaf-22	71	12	volatility	volatility	NOUN
gujaf-22	71	13	effect	effect	NOUN
gujaf-22	71	14	,	,	PUNCT
gujaf-22	71	15	which	which	PRON
gujaf-22	71	16	is	be	AUX
gujaf-22	71	17	believed	believe	VERB
gujaf-22	71	18	to	to	PART
gujaf-22	71	19	have	have	AUX
gujaf-22	71	20	increased	increase	VERB
gujaf-22	71	21	after	after	ADP
gujaf-22	71	22	the	the	DET
gujaf-22	71	23	global	global	ADJ
gujaf-22	71	24	financial	financial	ADJ
gujaf-22	71	25	crisis	crisis	NOUN
gujaf-22	71	26	.	.	PUNCT
gujaf-22	72	1	huang	huang	PROPN
gujaf-22	72	2	and	and	CCONJ
gujaf-22	72	3	chiu	chiu	PROPN
gujaf-22	72	4	(	(	PUNCT
gujaf-22	72	5	2017	2017	NUM
gujaf-22	72	6	)	)	PUNCT
gujaf-22	72	7	examined	examine	VERB
gujaf-22	72	8	effect	effect	NOUN
gujaf-22	72	9	of	of	ADP
gujaf-22	72	10	insider	insider	NOUN
gujaf-22	72	11	activities	activity	NOUN
gujaf-22	72	12	on	on	ADP
gujaf-22	72	13	seo	seo	NOUN
gujaf-22	72	14	announcements	announcement	NOUN
gujaf-22	72	15	using	use	VERB
gujaf-22	72	16	a	a	DET
gujaf-22	72	17	sample	sample	NOUN
gujaf-22	72	18	of	of	ADP
gujaf-22	72	19	506	506	NUM
gujaf-22	72	20	announcements	announcement	NOUN
gujaf-22	72	21	by	by	ADP
gujaf-22	72	22	taiwanese	taiwanese	ADJ
gujaf-22	72	23	firms	firm	NOUN
gujaf-22	72	24	between	between	ADP
gujaf-22	72	25	january	january	PROPN
gujaf-22	72	26	2006	2006	NUM
gujaf-22	72	27	and	and	CCONJ
gujaf-22	72	28	december	december	PROPN
gujaf-22	72	29	2014	2014	NUM
gujaf-22	72	30	.	.	PUNCT
gujaf-22	73	1	using	use	VERB
gujaf-22	73	2	the	the	DET
gujaf-22	73	3	event	event	NOUN
gujaf-22	73	4	study	study	NOUN
gujaf-22	73	5	approach	approach	NOUN
gujaf-22	73	6	,	,	PUNCT
gujaf-22	73	7	the	the	DET
gujaf-22	73	8	study	study	NOUN
gujaf-22	73	9	found	find	VERB
gujaf-22	73	10	negative	negative	ADJ
gujaf-22	73	11	announcement	announcement	NOUN
gujaf-22	73	12	day	day	NOUN
gujaf-22	73	13	effect	effect	NOUN
gujaf-22	73	14	for	for	ADP
gujaf-22	73	15	net	net	ADJ
gujaf-22	73	16	buying	buying	NOUN
gujaf-22	73	17	insiders	insider	NOUN
gujaf-22	73	18	and	and	CCONJ
gujaf-22	73	19	positive	positive	ADJ
gujaf-22	73	20	effect	effect	NOUN
gujaf-22	73	21	for	for	ADP
gujaf-22	73	22	net	net	ADJ
gujaf-22	73	23	selling	sell	VERB
gujaf-22	73	24	insiders	insider	NOUN
gujaf-22	73	25	.	.	PUNCT
gujaf-22	74	1	the	the	DET
gujaf-22	74	2	study	study	NOUN
gujaf-22	74	3	concluded	conclude	VERB
gujaf-22	74	4	that	that	SCONJ
gujaf-22	74	5	insiders	insider	NOUN
gujaf-22	74	6	buying	buy	VERB
gujaf-22	74	7	stocks	stock	NOUN
gujaf-22	74	8	around	around	ADP
gujaf-22	74	9	seos	seo	NOUN
gujaf-22	74	10	experience	experience	NOUN
gujaf-22	74	11	losses	loss	NOUN
gujaf-22	74	12	while	while	SCONJ
gujaf-22	74	13	those	those	PRON
gujaf-22	74	14	selling	sell	VERB
gujaf-22	74	15	record	record	NOUN
gujaf-22	74	16	benefits	benefit	NOUN
gujaf-22	74	17	.	.	PUNCT
gujaf-22	75	1	however	however	ADV
gujaf-22	75	2	,	,	PUNCT
gujaf-22	75	3	the	the	DET
gujaf-22	75	4	study	study	NOUN
gujaf-22	75	5	did	do	AUX
gujaf-22	75	6	not	not	PART
gujaf-22	75	7	adjust	adjust	VERB
gujaf-22	75	8	the	the	DET
gujaf-22	75	9	returns	return	NOUN
gujaf-22	75	10	for	for	ADP
gujaf-22	75	11	thin	thin	ADJ
gujaf-22	75	12	trading	trading	NOUN
gujaf-22	75	13	effects	effect	NOUN
gujaf-22	75	14	.	.	PUNCT
gujaf-22	76	1	kumar	kumar	PROPN
gujaf-22	76	2	,	,	PUNCT
gujaf-22	76	3	hawaldar	hawaldar	NOUN
gujaf-22	76	4	and	and	CCONJ
gujaf-22	76	5	mallikarjunappa	mallikarjunappa	PROPN
gujaf-22	76	6	(	(	PUNCT
gujaf-22	76	7	2018	2018	NUM
gujaf-22	76	8	)	)	PUNCT
gujaf-22	76	9	examined	examine	VERB
gujaf-22	76	10	reaction	reaction	NOUN
gujaf-22	76	11	of	of	ADP
gujaf-22	76	12	the	the	DET
gujaf-22	76	13	indian	indian	ADJ
gujaf-22	76	14	stock	stock	NOUN
gujaf-22	76	15	market	market	NOUN
gujaf-22	76	16	to	to	ADP
gujaf-22	76	17	seos	seo	NOUN
gujaf-22	76	18	announcements	announcement	NOUN
gujaf-22	76	19	using	use	VERB
gujaf-22	76	20	a	a	DET
gujaf-22	76	21	sample	sample	NOUN
gujaf-22	76	22	of	of	ADP
gujaf-22	76	23	162	162	NUM
gujaf-22	76	24	announcements	announcement	NOUN
gujaf-22	76	25	made	make	VERB
gujaf-22	76	26	between	between	ADP
gujaf-22	76	27	1992	1992	NUM
gujaf-22	76	28	and	and	CCONJ
gujaf-22	76	29	2012	2012	NUM
gujaf-22	76	30	.	.	PUNCT
gujaf-22	77	1	the	the	DET
gujaf-22	77	2	study	study	NOUN
gujaf-22	77	3	adopted	adopt	VERB
gujaf-22	77	4	event	event	NOUN
gujaf-22	77	5	study	study	NOUN
gujaf-22	77	6	methodology	methodology	NOUN
gujaf-22	77	7	to	to	PART
gujaf-22	77	8	establish	establish	VERB
gujaf-22	77	9	abnormal	abnormal	ADJ
gujaf-22	77	10	return	return	NOUN
gujaf-22	77	11	arising	arise	VERB
gujaf-22	77	12	from	from	ADP
gujaf-22	77	13	the	the	DET
gujaf-22	77	14	announcements	announcement	NOUN
gujaf-22	77	15	.	.	PUNCT
gujaf-22	78	1	it	it	PRON
gujaf-22	78	2	was	be	AUX
gujaf-22	78	3	found	find	VERB
gujaf-22	78	4	that	that	SCONJ
gujaf-22	78	5	abnormal	abnormal	ADJ
gujaf-22	78	6	return	return	NOUN
gujaf-22	78	7	for	for	ADP
gujaf-22	78	8	various	various	ADJ
gujaf-22	78	9	windows	window	NOUN
gujaf-22	78	10	were	be	AUX
gujaf-22	78	11	negative	negative	ADJ
gujaf-22	78	12	and	and	CCONJ
gujaf-22	78	13	significant	significant	ADJ
gujaf-22	78	14	,	,	PUNCT
gujaf-22	78	15	implying	imply	VERB
gujaf-22	78	16	that	that	SCONJ
gujaf-22	78	17	the	the	DET
gujaf-22	78	18	indian	indian	ADJ
gujaf-22	78	19	stock	stock	NOUN
gujaf-22	78	20	market	market	NOUN
gujaf-22	78	21	reacted	react	VERB
gujaf-22	78	22	negatively	negatively	ADV
gujaf-22	78	23	to	to	ADP
gujaf-22	78	24	seos	seo	NOUN
gujaf-22	78	25	announcements	announcement	NOUN
gujaf-22	78	26	.	.	PUNCT
gujaf-22	79	1	it	it	PRON
gujaf-22	79	2	was	be	AUX
gujaf-22	79	3	concluded	conclude	VERB
gujaf-22	79	4	that	that	SCONJ
gujaf-22	79	5	the	the	DET
gujaf-22	79	6	indian	indian	ADJ
gujaf-22	79	7	stock	stock	NOUN
gujaf-22	79	8	market	market	NOUN
gujaf-22	79	9	,	,	PUNCT
gujaf-22	79	10	consistent	consistent	ADJ
gujaf-22	79	11	with	with	ADP
gujaf-22	79	12	previous	previous	ADJ
gujaf-22	79	13	findings	finding	NOUN
gujaf-22	79	14	,	,	PUNCT
gujaf-22	79	15	experienced	experience	VERB
gujaf-22	79	16	underpricing	underprice	VERB
gujaf-22	79	17	as	as	ADP
gujaf-22	79	18	a	a	DET
gujaf-22	79	19	result	result	NOUN
gujaf-22	79	20	of	of	ADP
gujaf-22	79	21	seos	seo	NOUN
gujaf-22	79	22	announcements	announcement	NOUN
gujaf-22	79	23	.	.	PUNCT
gujaf-22	80	1	however	however	ADV
gujaf-22	80	2	,	,	PUNCT
gujaf-22	80	3	absence	absence	NOUN
gujaf-22	80	4	for	for	ADP
gujaf-22	80	5	control	control	NOUN
gujaf-22	80	6	of	of	ADP
gujaf-22	80	7	the	the	DET
gujaf-22	80	8	effect	effect	NOUN
gujaf-22	80	9	of	of	ADP
gujaf-22	80	10	thin	thin	ADJ
gujaf-22	80	11	trading	trading	NOUN
gujaf-22	80	12	may	may	AUX
gujaf-22	80	13	have	have	AUX
gujaf-22	80	14	adversely	adversely	ADV
gujaf-22	80	15	affected	affect	VERB
gujaf-22	80	16	the	the	DET
gujaf-22	80	17	results	result	NOUN
gujaf-22	80	18	.	.	PUNCT
gujaf-22	81	1	width	width	VERB
gujaf-22	81	2	and	and	CCONJ
gujaf-22	81	3	arseth	arseth	ADJ
gujaf-22	81	4	(	(	PUNCT
gujaf-22	81	5	2018	2018	NUM
gujaf-22	81	6	)	)	PUNCT
gujaf-22	82	1	assessed	assess	VERB
gujaf-22	82	2	the	the	DET
gujaf-22	82	3	announcement	announcement	NOUN
gujaf-22	82	4	effect	effect	NOUN
gujaf-22	82	5	of	of	ADP
gujaf-22	82	6	seos	seo	NOUN
gujaf-22	82	7	on	on	ADP
gujaf-22	82	8	the	the	DET
gujaf-22	82	9	oslo	oslo	PROPN
gujaf-22	82	10	stock	stock	PROPN
gujaf-22	82	11	exchange	exchange	PROPN
gujaf-22	82	12	between	between	ADP
gujaf-22	82	13	2005	2005	NUM
gujaf-22	82	14	and	and	CCONJ
gujaf-22	82	15	2018	2018	NUM
gujaf-22	82	16	.	.	PUNCT
gujaf-22	83	1	using	use	VERB
gujaf-22	83	2	the	the	DET
gujaf-22	83	3	event	event	NOUN
gujaf-22	83	4	study	study	NOUN
gujaf-22	83	5	methodology	methodology	NOUN
gujaf-22	83	6	,	,	PUNCT
gujaf-22	83	7	the	the	DET
gujaf-22	83	8	study	study	NOUN
gujaf-22	83	9	found	find	VERB
gujaf-22	83	10	negative	negative	ADJ
gujaf-22	83	11	reaction	reaction	NOUN
gujaf-22	83	12	by	by	ADP
gujaf-22	83	13	firms	firm	NOUN
gujaf-22	83	14	announcing	announce	VERB
gujaf-22	83	15	seos	seo	NOUN
gujaf-22	83	16	,	,	PUNCT
gujaf-22	83	17	with	with	ADP
gujaf-22	83	18	the	the	DET
gujaf-22	83	19	results	result	NOUN
gujaf-22	83	20	being	be	AUX
gujaf-22	83	21	less	less	ADV
gujaf-22	83	22	severe	severe	ADJ
gujaf-22	83	23	for	for	ADP
gujaf-22	83	24	firms	firm	NOUN
gujaf-22	83	25	that	that	PRON
gujaf-22	83	26	announced	announce	VERB
gujaf-22	83	27	intended	intended	ADJ
gujaf-22	83	28	use	use	NOUN
gujaf-22	83	29	of	of	ADP
gujaf-22	83	30	seo	seo	NOUN
gujaf-22	83	31	proceeds	proceed	NOUN
gujaf-22	83	32	.	.	PUNCT
gujaf-22	84	1	the	the	DET
gujaf-22	84	2	study	study	NOUN
gujaf-22	84	3	thus	thus	ADV
gujaf-22	84	4	concluded	conclude	VERB
gujaf-22	84	5	that	that	SCONJ
gujaf-22	84	6	adequate	adequate	ADJ
gujaf-22	84	7	disclosure	disclosure	NOUN
gujaf-22	84	8	around	around	ADP
gujaf-22	84	9	the	the	DET
gujaf-22	84	10	use	use	NOUN
gujaf-22	84	11	and	and	CCONJ
gujaf-22	84	12	purpose	purpose	NOUN
gujaf-22	84	13	of	of	ADP
gujaf-22	84	14	seo	seo	NOUN
gujaf-22	84	15	proceeds	proceed	NOUN
gujaf-22	84	16	produces	produce	VERB
gujaf-22	84	17	credible	credible	ADJ
gujaf-22	84	18	signal	signal	NOUN
gujaf-22	84	19	to	to	ADP
gujaf-22	84	20	the	the	DET
gujaf-22	84	21	stock	stock	NOUN
gujaf-22	84	22	market	market	NOUN
gujaf-22	84	23	.	.	PUNCT
gujaf-22	85	1	however	however	ADV
gujaf-22	85	2	,	,	PUNCT
gujaf-22	85	3	results	result	NOUN
gujaf-22	85	4	of	of	ADP
gujaf-22	85	5	the	the	DET
gujaf-22	85	6	study	study	NOUN
gujaf-22	85	7	may	may	AUX
gujaf-22	85	8	have	have	AUX
gujaf-22	85	9	been	be	AUX
gujaf-22	85	10	influenced	influence	VERB
gujaf-22	85	11	by	by	ADP
gujaf-22	85	12	volatility	volatility	NOUN
gujaf-22	85	13	effects	effect	NOUN
gujaf-22	85	14	.	.	PUNCT
gujaf-22	86	1	feet	foot	NOUN
gujaf-22	86	2	and	and	CCONJ
gujaf-22	86	3	ulrich	ulrich	PROPN
gujaf-22	86	4	(	(	PUNCT
gujaf-22	86	5	2018	2018	NUM
gujaf-22	86	6	)	)	PUNCT
gujaf-22	86	7	examined	examine	VERB
gujaf-22	86	8	effect	effect	NOUN
gujaf-22	86	9	of	of	ADP
gujaf-22	86	10	information	information	NOUN
gujaf-22	86	11	asymmetry	asymmetry	NOUN
gujaf-22	86	12	on	on	ADP
gujaf-22	86	13	reaction	reaction	NOUN
gujaf-22	86	14	of	of	ADP
gujaf-22	86	15	stock	stock	NOUN
gujaf-22	86	16	markets	market	NOUN
gujaf-22	86	17	to	to	ADP
gujaf-22	86	18	seo	seo	NOUN
gujaf-22	86	19	announcements	announcement	NOUN
gujaf-22	86	20	by	by	ADP
gujaf-22	86	21	european	european	ADJ
gujaf-22	86	22	stock	stock	NOUN
gujaf-22	86	23	markets	market	NOUN
gujaf-22	86	24	between	between	ADP
gujaf-22	86	25	2000	2000	NUM
gujaf-22	86	26	and	and	CCONJ
gujaf-22	86	27	2013	2013	NUM
gujaf-22	86	28	.	.	PUNCT
gujaf-22	87	1	using	use	VERB
gujaf-22	87	2	event	event	NOUN
gujaf-22	87	3	study	study	NOUN
gujaf-22	87	4	methodology	methodology	NOUN
gujaf-22	87	5	,	,	PUNCT
gujaf-22	87	6	it	it	PRON
gujaf-22	87	7	was	be	AUX
gujaf-22	87	8	established	establish	VERB
gujaf-22	87	9	that	that	SCONJ
gujaf-22	87	10	the	the	DET
gujaf-22	87	11	market	market	NOUN
gujaf-22	87	12	reacted	react	VERB
gujaf-22	87	13	negatively	negatively	ADV
gujaf-22	87	14	,	,	PUNCT
gujaf-22	87	15	with	with	ADP
gujaf-22	87	16	marginal	marginal	ADJ
gujaf-22	87	17	evidence	evidence	NOUN
gujaf-22	87	18	that	that	SCONJ
gujaf-22	87	19	the	the	DET
gujaf-22	87	20	reaction	reaction	NOUN
gujaf-22	87	21	was	be	AUX
gujaf-22	87	22	more	more	ADV
gujaf-22	87	23	negative	negative	ADJ
gujaf-22	87	24	for	for	ADP
gujaf-22	87	25	fully	fully	ADV
gujaf-22	87	26	-	-	PUNCT
gujaf-22	87	27	marketed	market	VERB
gujaf-22	87	28	offers	offer	NOUN
gujaf-22	87	29	relative	relative	ADJ
gujaf-22	87	30	to	to	ADP
gujaf-22	87	31	accelerated	accelerate	VERB
gujaf-22	87	32	offers	offer	NOUN
gujaf-22	87	33	.	.	PUNCT
gujaf-22	88	1	the	the	DET
gujaf-22	88	2	study	study	NOUN
gujaf-22	88	3	concluded	conclude	VERB
gujaf-22	88	4	that	that	SCONJ
gujaf-22	88	5	information	information	NOUN
gujaf-22	88	6	asymmetry	asymmetry	NOUN
gujaf-22	88	7	has	have	VERB
gujaf-22	88	8	effect	effect	NOUN
gujaf-22	88	9	on	on	ADP
gujaf-22	88	10	offer	offer	NOUN
gujaf-22	88	11	type	type	NOUN
gujaf-22	88	12	.	.	PUNCT
gujaf-22	89	1	however	however	ADV
gujaf-22	89	2	,	,	PUNCT
gujaf-22	89	3	the	the	DET
gujaf-22	89	4	study	study	NOUN
gujaf-22	89	5	did	do	AUX
gujaf-22	89	6	not	not	PART
gujaf-22	89	7	account	account	VERB
gujaf-22	89	8	for	for	ADP
gujaf-22	89	9	country	country	NOUN
gujaf-22	89	10	-	-	PUNCT
gujaf-22	89	11	specific	specific	ADJ
gujaf-22	89	12	variations	variation	NOUN
gujaf-22	89	13	in	in	ADP
gujaf-22	89	14	stock	stock	NOUN
gujaf-22	89	15	markets	market	NOUN
gujaf-22	89	16	.	.	PUNCT
gujaf-22	90	1	on	on	ADP
gujaf-22	90	2	the	the	DET
gujaf-22	90	3	other	other	ADJ
gujaf-22	90	4	hand	hand	NOUN
gujaf-22	90	5	,	,	PUNCT
gujaf-22	90	6	the	the	DET
gujaf-22	90	7	effect	effect	NOUN
gujaf-22	90	8	of	of	ADP
gujaf-22	90	9	ict	ict	NOUN
gujaf-22	90	10	on	on	ADP
gujaf-22	90	11	stock	stock	NOUN
gujaf-22	90	12	market	market	NOUN
gujaf-22	90	13	efficiency	efficiency	NOUN
gujaf-22	90	14	has	have	AUX
gujaf-22	90	15	since	since	ADV
gujaf-22	90	16	been	be	AUX
gujaf-22	90	17	established	establish	VERB
gujaf-22	90	18	by	by	ADP
gujaf-22	90	19	previous	previous	ADJ
gujaf-22	90	20	studies	study	NOUN
gujaf-22	90	21	(	(	PUNCT
gujaf-22	90	22	d’avolio	d’avolio	PROPN
gujaf-22	90	23	et	et	PROPN
gujaf-22	90	24	al	al	PROPN
gujaf-22	90	25	.	.	PROPN
gujaf-22	90	26	,	,	PUNCT
gujaf-22	90	27	2001	2001	NUM
gujaf-22	90	28	;	;	PUNCT
gujaf-22	90	29	faghani	faghani	PROPN
gujaf-22	90	30	,	,	PUNCT
gujaf-22	90	31	habibi	habibi	PROPN
gujaf-22	90	32	,	,	PUNCT
gujaf-22	90	33	tabatabaee	tabatabaee	ADJ
gujaf-22	90	34	,	,	PUNCT
gujaf-22	90	35	razavi	razavi	PROPN
gujaf-22	90	36	&	&	CCONJ
gujaf-22	90	37	emadzadeh	emadzadeh	PROPN
gujaf-22	90	38	,	,	PUNCT
gujaf-22	90	39	2013	2013	NUM
gujaf-22	90	40	;	;	PUNCT
gujaf-22	90	41	chan	chan	PROPN
gujaf-22	90	42	&	&	CCONJ
gujaf-22	90	43	chan	chan	PROPN
gujaf-22	90	44	,	,	PUNCT
gujaf-22	90	45	2014	2014	NUM
gujaf-22	90	46	)	)	PUNCT
gujaf-22	90	47	.	.	PUNCT
gujaf-22	91	1	according	accord	VERB
gujaf-22	91	2	to	to	ADP
gujaf-22	91	3	faghani	faghani	PROPN
gujaf-22	91	4	,	,	PUNCT
gujaf-22	91	5	et	et	PROPN
gujaf-22	91	6	al	al	PROPN
gujaf-22	91	7	.	.	PROPN
gujaf-22	92	1	(	(	PUNCT
gujaf-22	92	2	2013	2013	NUM
gujaf-22	92	3	)	)	PUNCT
gujaf-22	92	4	,	,	PUNCT
gujaf-22	92	5	ict	ict	PROPN
gujaf-22	92	6	leads	lead	VERB
gujaf-22	92	7	to	to	ADP
gujaf-22	92	8	deployment	deployment	NOUN
gujaf-22	92	9	of	of	ADP
gujaf-22	92	10	electronic	electronic	ADJ
gujaf-22	92	11	trading	trading	NOUN
gujaf-22	92	12	processes	process	NOUN
gujaf-22	92	13	and	and	CCONJ
gujaf-22	92	14	seamless	seamless	ADJ
gujaf-22	92	15	dissemination	dissemination	NOUN
gujaf-22	92	16	of	of	ADP
gujaf-22	92	17	market	market	NOUN
gujaf-22	92	18	information	information	NOUN
gujaf-22	92	19	,	,	PUNCT
gujaf-22	92	20	which	which	PRON
gujaf-22	92	21	in	in	ADP
gujaf-22	92	22	turn	turn	NOUN
gujaf-22	92	23	enhances	enhance	VERB
gujaf-22	92	24	stock	stock	NOUN
gujaf-22	92	25	market	market	NOUN
gujaf-22	92	26	gujaf	gujaf	NOUN
gujaf-22	92	27	:	:	PUNCT
gujaf-22	92	28	gusau	gusau	PROPN
gujaf-22	92	29	journal	journal	NOUN
gujaf-22	92	30	of	of	ADP
gujaf-22	92	31	accounting	accounting	NOUN
gujaf-22	92	32	and	and	CCONJ
gujaf-22	92	33	finance	finance	NOUN
gujaf-22	92	34	,	,	PUNCT
gujaf-22	92	35	vol	vol	NOUN
gujaf-22	92	36	.	.	PUNCT
gujaf-22	93	1	i	i	PRON
gujaf-22	93	2	,	,	PUNCT
gujaf-22	93	3	issue	issue	NOUN
gujaf-22	93	4	1	1	NUM
gujaf-22	93	5	,	,	PUNCT
gujaf-22	93	6	april	april	PROPN
gujaf-22	93	7	,	,	PUNCT
gujaf-22	93	8	2020	2020	NUM
gujaf-22	93	9	issn	issn	VERB
gujaf-22	93	10	2756	2756	NUM
gujaf-22	93	11	-	-	PUNCT
gujaf-22	93	12	665x	665x	NOUN
gujaf-22	93	13	6	6	NUM
gujaf-22	93	14	efficiency	efficiency	NOUN
gujaf-22	93	15	.	.	PUNCT
gujaf-22	94	1	automation	automation	NOUN
gujaf-22	94	2	of	of	ADP
gujaf-22	94	3	trading	trading	NOUN
gujaf-22	94	4	platforms	platform	NOUN
gujaf-22	94	5	slashes	slash	VERB
gujaf-22	94	6	unnecessary	unnecessary	ADJ
gujaf-22	94	7	time	time	NOUN
gujaf-22	94	8	wastage	wastage	NOUN
gujaf-22	94	9	in	in	ADP
gujaf-22	94	10	the	the	DET
gujaf-22	94	11	execution	execution	NOUN
gujaf-22	94	12	of	of	ADP
gujaf-22	94	13	investors	investor	NOUN
gujaf-22	94	14	’	'	PUNCT
gujaf-22	94	15	buy	buy	VERB
gujaf-22	94	16	and	and	CCONJ
gujaf-22	94	17	sell	sell	VERB
gujaf-22	94	18	orders	order	NOUN
gujaf-22	94	19	in	in	ADP
gujaf-22	94	20	the	the	DET
gujaf-22	94	21	stock	stock	NOUN
gujaf-22	94	22	market	market	NOUN
gujaf-22	94	23	.	.	PUNCT
gujaf-22	95	1	similarly	similarly	ADV
gujaf-22	95	2	,	,	PUNCT
gujaf-22	95	3	market	market	NOUN
gujaf-22	95	4	information	information	NOUN
gujaf-22	95	5	is	be	AUX
gujaf-22	95	6	more	more	ADV
gujaf-22	95	7	rapidly	rapidly	ADV
gujaf-22	95	8	spread	spread	VERB
gujaf-22	95	9	among	among	ADP
gujaf-22	95	10	investors	investor	NOUN
gujaf-22	95	11	to	to	PART
gujaf-22	95	12	aid	aid	VERB
gujaf-22	95	13	them	they	PRON
gujaf-22	95	14	in	in	ADP
gujaf-22	95	15	arriving	arrive	VERB
gujaf-22	95	16	at	at	ADP
gujaf-22	95	17	sound	sound	ADJ
gujaf-22	95	18	investment	investment	NOUN
gujaf-22	95	19	decisions	decision	NOUN
gujaf-22	95	20	.	.	PUNCT
gujaf-22	96	1	previous	previous	ADJ
gujaf-22	96	2	empirical	empirical	ADJ
gujaf-22	96	3	studies	study	NOUN
gujaf-22	96	4	have	have	AUX
gujaf-22	96	5	documented	document	VERB
gujaf-22	96	6	the	the	DET
gujaf-22	96	7	relationship	relationship	NOUN
gujaf-22	96	8	between	between	ADP
gujaf-22	96	9	ict	ict	PROPN
gujaf-22	96	10	and	and	CCONJ
gujaf-22	96	11	stock	stock	NOUN
gujaf-22	96	12	market	market	NOUN
gujaf-22	96	13	efficiency	efficiency	NOUN
gujaf-22	96	14	.	.	PUNCT
gujaf-22	97	1	however	however	ADV
gujaf-22	97	2	,	,	PUNCT
gujaf-22	97	3	only	only	ADV
gujaf-22	97	4	a	a	DET
gujaf-22	97	5	few	few	ADJ
gujaf-22	97	6	of	of	ADP
gujaf-22	97	7	such	such	ADJ
gujaf-22	97	8	studies	study	NOUN
gujaf-22	97	9	emanated	emanate	VERB
gujaf-22	97	10	from	from	ADP
gujaf-22	97	11	africa	africa	PROPN
gujaf-22	97	12	;	;	PUNCT
gujaf-22	97	13	and	and	CCONJ
gujaf-22	97	14	this	this	PRON
gujaf-22	97	15	may	may	AUX
gujaf-22	97	16	not	not	PART
gujaf-22	97	17	be	be	AUX
gujaf-22	97	18	unconnected	unconnected	ADJ
gujaf-22	97	19	with	with	ADP
gujaf-22	97	20	the	the	DET
gujaf-22	97	21	fact	fact	NOUN
gujaf-22	97	22	that	that	SCONJ
gujaf-22	97	23	african	african	ADJ
gujaf-22	97	24	stock	stock	NOUN
gujaf-22	97	25	markets	market	NOUN
gujaf-22	97	26	are	be	AUX
gujaf-22	97	27	adjudged	adjudge	VERB
gujaf-22	97	28	to	to	PART
gujaf-22	97	29	be	be	AUX
gujaf-22	97	30	less	less	ADV
gujaf-22	97	31	efficient	efficient	ADJ
gujaf-22	97	32	.	.	PUNCT
gujaf-22	98	1	most	most	ADJ
gujaf-22	98	2	of	of	ADP
gujaf-22	98	3	the	the	DET
gujaf-22	98	4	reasons	reason	NOUN
gujaf-22	98	5	advanced	advanced	ADJ
gujaf-22	98	6	for	for	ADP
gujaf-22	98	7	this	this	DET
gujaf-22	98	8	assertion	assertion	NOUN
gujaf-22	98	9	center	center	NOUN
gujaf-22	98	10	around	around	ADP
gujaf-22	98	11	poor	poor	ADJ
gujaf-22	98	12	deployment	deployment	NOUN
gujaf-22	98	13	and	and	CCONJ
gujaf-22	98	14	use	use	NOUN
gujaf-22	98	15	of	of	ADP
gujaf-22	98	16	ict	ict	NOUN
gujaf-22	98	17	in	in	ADP
gujaf-22	98	18	african	african	ADJ
gujaf-22	98	19	stock	stock	NOUN
gujaf-22	98	20	markets	market	NOUN
gujaf-22	98	21	.	.	PUNCT
gujaf-22	99	1	odeleye	odeleye	NOUN
gujaf-22	99	2	(	(	PUNCT
gujaf-22	99	3	2009	2009	NUM
gujaf-22	99	4	)	)	PUNCT
gujaf-22	99	5	examined	examine	VERB
gujaf-22	99	6	effect	effect	NOUN
gujaf-22	99	7	of	of	ADP
gujaf-22	99	8	trading	trading	NOUN
gujaf-22	99	9	automation	automation	NOUN
gujaf-22	99	10	on	on	ADP
gujaf-22	99	11	the	the	DET
gujaf-22	99	12	prices	price	NOUN
gujaf-22	99	13	and	and	CCONJ
gujaf-22	99	14	trading	trading	NOUN
gujaf-22	99	15	volumes	volume	NOUN
gujaf-22	99	16	of	of	ADP
gujaf-22	99	17	selected	select	VERB
gujaf-22	99	18	firms	firm	NOUN
gujaf-22	99	19	listed	list	VERB
gujaf-22	99	20	on	on	ADP
gujaf-22	99	21	the	the	DET
gujaf-22	99	22	nigerian	nigerian	ADJ
gujaf-22	99	23	stock	stock	NOUN
gujaf-22	99	24	exchange	exchange	PROPN
gujaf-22	99	25	.	.	PUNCT
gujaf-22	100	1	the	the	DET
gujaf-22	100	2	study	study	NOUN
gujaf-22	100	3	covered	cover	VERB
gujaf-22	100	4	the	the	DET
gujaf-22	100	5	period	period	NOUN
gujaf-22	100	6	1996	1996	NUM
gujaf-22	100	7	-	-	SYM
gujaf-22	100	8	1998	1998	NUM
gujaf-22	100	9	as	as	ADP
gujaf-22	100	10	pre	pre	NOUN
gujaf-22	100	11	-	-	NOUN
gujaf-22	100	12	automation	automation	NOUN
gujaf-22	100	13	and	and	CCONJ
gujaf-22	100	14	2001	2001	NUM
gujaf-22	100	15	-	-	SYM
gujaf-22	100	16	2003	2003	NUM
gujaf-22	100	17	as	as	ADP
gujaf-22	100	18	post	post	NOUN
gujaf-22	100	19	-	-	NOUN
gujaf-22	100	20	automation	automation	NOUN
gujaf-22	100	21	.	.	PUNCT
gujaf-22	101	1	using	use	VERB
gujaf-22	101	2	ols	ol	NOUN
gujaf-22	101	3	regression	regression	NOUN
gujaf-22	101	4	,	,	PUNCT
gujaf-22	101	5	the	the	DET
gujaf-22	101	6	study	study	NOUN
gujaf-22	101	7	documented	document	VERB
gujaf-22	101	8	statistically	statistically	ADV
gujaf-22	101	9	insignificant	insignificant	ADJ
gujaf-22	101	10	increase	increase	NOUN
gujaf-22	101	11	in	in	ADP
gujaf-22	101	12	trading	trading	NOUN
gujaf-22	101	13	volume	volume	NOUN
gujaf-22	101	14	and	and	CCONJ
gujaf-22	101	15	decrease	decrease	NOUN
gujaf-22	101	16	in	in	ADP
gujaf-22	101	17	prices	price	NOUN
gujaf-22	101	18	.	.	PUNCT
gujaf-22	102	1	it	it	PRON
gujaf-22	102	2	was	be	AUX
gujaf-22	102	3	concluded	conclude	VERB
gujaf-22	102	4	that	that	SCONJ
gujaf-22	102	5	automation	automation	NOUN
gujaf-22	102	6	did	do	AUX
gujaf-22	102	7	not	not	PART
gujaf-22	102	8	significantly	significantly	ADV
gujaf-22	102	9	influence	influence	VERB
gujaf-22	102	10	market	market	NOUN
gujaf-22	102	11	efficiency	efficiency	NOUN
gujaf-22	102	12	.	.	PUNCT
gujaf-22	103	1	however	however	ADV
gujaf-22	103	2	,	,	PUNCT
gujaf-22	103	3	the	the	DET
gujaf-22	103	4	use	use	NOUN
gujaf-22	103	5	of	of	ADP
gujaf-22	103	6	only	only	ADV
gujaf-22	103	7	three	three	NUM
gujaf-22	103	8	listed	list	VERB
gujaf-22	103	9	firms	firm	NOUN
gujaf-22	103	10	and	and	CCONJ
gujaf-22	103	11	ols	ol	NOUN
gujaf-22	103	12	regression	regression	NOUN
gujaf-22	103	13	as	as	ADP
gujaf-22	103	14	a	a	DET
gujaf-22	103	15	tool	tool	NOUN
gujaf-22	103	16	to	to	PART
gujaf-22	103	17	test	test	NOUN
gujaf-22	103	18	efficiency	efficiency	NOUN
gujaf-22	103	19	may	may	AUX
gujaf-22	103	20	have	have	AUX
gujaf-22	103	21	affected	affect	VERB
gujaf-22	103	22	the	the	DET
gujaf-22	103	23	results	result	NOUN
gujaf-22	103	24	.	.	PUNCT
gujaf-22	104	1	olowe	olowe	NOUN
gujaf-22	104	2	(	(	PUNCT
gujaf-22	104	3	2009	2009	NUM
gujaf-22	104	4	)	)	PUNCT
gujaf-22	104	5	investigated	investigate	VERB
gujaf-22	104	6	effect	effect	NOUN
gujaf-22	104	7	of	of	ADP
gujaf-22	104	8	the	the	DET
gujaf-22	104	9	introduction	introduction	NOUN
gujaf-22	104	10	of	of	ADP
gujaf-22	104	11	the	the	DET
gujaf-22	104	12	automated	automate	VERB
gujaf-22	104	13	trading	trading	NOUN
gujaf-22	104	14	system	system	NOUN
gujaf-22	104	15	(	(	PUNCT
gujaf-22	104	16	ats	ats	PROPN
gujaf-22	104	17	)	)	PUNCT
gujaf-22	104	18	in	in	ADP
gujaf-22	104	19	the	the	DET
gujaf-22	104	20	nigerian	nigerian	ADJ
gujaf-22	104	21	stock	stock	NOUN
gujaf-22	104	22	market	market	NOUN
gujaf-22	104	23	using	use	VERB
gujaf-22	104	24	monthly	monthly	ADJ
gujaf-22	104	25	data	datum	NOUN
gujaf-22	104	26	from	from	ADP
gujaf-22	104	27	december	december	PROPN
gujaf-22	104	28	1986	1986	NUM
gujaf-22	104	29	to	to	ADP
gujaf-22	104	30	december	december	PROPN
gujaf-22	104	31	2006	2006	NUM
gujaf-22	104	32	.	.	PUNCT
gujaf-22	105	1	using	use	VERB
gujaf-22	105	2	the	the	DET
gujaf-22	105	3	event	event	NOUN
gujaf-22	105	4	study	study	NOUN
gujaf-22	105	5	methodology	methodology	NOUN
gujaf-22	105	6	,	,	PUNCT
gujaf-22	105	7	the	the	DET
gujaf-22	105	8	paper	paper	NOUN
gujaf-22	105	9	established	establish	VERB
gujaf-22	105	10	evidence	evidence	NOUN
gujaf-22	105	11	of	of	ADP
gujaf-22	105	12	negative	negative	ADJ
gujaf-22	105	13	abnormal	abnormal	ADJ
gujaf-22	105	14	return	return	NOUN
gujaf-22	105	15	,	,	PUNCT
gujaf-22	105	16	consistent	consistent	ADJ
gujaf-22	105	17	with	with	ADP
gujaf-22	105	18	the	the	DET
gujaf-22	105	19	notion	notion	NOUN
gujaf-22	105	20	that	that	SCONJ
gujaf-22	105	21	that	that	SCONJ
gujaf-22	105	22	the	the	DET
gujaf-22	105	23	nigerian	nigerian	ADJ
gujaf-22	105	24	stock	stock	NOUN
gujaf-22	105	25	market	market	NOUN
gujaf-22	105	26	is	be	AUX
gujaf-22	105	27	not	not	PART
gujaf-22	105	28	informationally	informationally	ADV
gujaf-22	105	29	efficient	efficient	ADJ
gujaf-22	105	30	.	.	PUNCT
gujaf-22	106	1	similarly	similarly	ADV
gujaf-22	106	2	,	,	PUNCT
gujaf-22	106	3	mwalya	mwalya	X
gujaf-22	106	4	(	(	PUNCT
gujaf-22	106	5	2010	2010	NUM
gujaf-22	106	6	)	)	PUNCT
gujaf-22	106	7	utilized	utilize	VERB
gujaf-22	106	8	market	market	NOUN
gujaf-22	106	9	return	return	NOUN
gujaf-22	106	10	and	and	CCONJ
gujaf-22	106	11	trading	trading	NOUN
gujaf-22	106	12	volume	volume	NOUN
gujaf-22	106	13	data	datum	NOUN
gujaf-22	106	14	for	for	ADP
gujaf-22	106	15	the	the	DET
gujaf-22	106	16	nairobi	nairobi	PROPN
gujaf-22	106	17	stock	stock	PROPN
gujaf-22	106	18	exchange	exchange	PROPN
gujaf-22	106	19	(	(	PUNCT
gujaf-22	106	20	nse	nse	NOUN
gujaf-22	106	21	)	)	PUNCT
gujaf-22	106	22	from	from	ADP
gujaf-22	106	23	2005	2005	NUM
gujaf-22	106	24	to	to	ADP
gujaf-22	106	25	2010	2010	NUM
gujaf-22	106	26	.	.	PUNCT
gujaf-22	107	1	initial	initial	ADJ
gujaf-22	107	2	public	public	ADJ
gujaf-22	107	3	offering	offering	NOUN
gujaf-22	107	4	(	(	PUNCT
gujaf-22	107	5	ipo	ipo	NOUN
gujaf-22	107	6	)	)	PUNCT
gujaf-22	107	7	announcement	announcement	NOUN
gujaf-22	107	8	was	be	AUX
gujaf-22	107	9	used	use	VERB
gujaf-22	107	10	by	by	ADP
gujaf-22	107	11	the	the	DET
gujaf-22	107	12	study	study	NOUN
gujaf-22	107	13	to	to	PART
gujaf-22	107	14	test	test	VERB
gujaf-22	107	15	the	the	DET
gujaf-22	107	16	reaction	reaction	NOUN
gujaf-22	107	17	of	of	ADP
gujaf-22	107	18	the	the	DET
gujaf-22	107	19	market	market	NOUN
gujaf-22	107	20	to	to	PART
gujaf-22	107	21	use	use	VERB
gujaf-22	107	22	of	of	ADP
gujaf-22	107	23	ict	ict	PROPN
gujaf-22	107	24	.	.	PUNCT
gujaf-22	108	1	using	use	VERB
gujaf-22	108	2	event	event	NOUN
gujaf-22	108	3	study	study	NOUN
gujaf-22	108	4	methodology	methodology	NOUN
gujaf-22	108	5	,	,	PUNCT
gujaf-22	108	6	the	the	DET
gujaf-22	108	7	study	study	NOUN
gujaf-22	108	8	found	find	VERB
gujaf-22	108	9	that	that	SCONJ
gujaf-22	108	10	the	the	DET
gujaf-22	108	11	nse	nse	NOUN
gujaf-22	108	12	return	return	NOUN
gujaf-22	108	13	and	and	CCONJ
gujaf-22	108	14	trading	trading	NOUN
gujaf-22	108	15	volumes	volume	NOUN
gujaf-22	108	16	responded	respond	VERB
gujaf-22	108	17	to	to	ADP
gujaf-22	108	18	announcement	announcement	NOUN
gujaf-22	108	19	of	of	ADP
gujaf-22	108	20	ict	ict	NOUN
gujaf-22	108	21	adoption	adoption	NOUN
gujaf-22	108	22	.	.	PUNCT
gujaf-22	109	1	however	however	ADV
gujaf-22	109	2	,	,	PUNCT
gujaf-22	109	3	there	there	PRON
gujaf-22	109	4	was	be	VERB
gujaf-22	109	5	no	no	DET
gujaf-22	109	6	evidence	evidence	NOUN
gujaf-22	109	7	the	the	DET
gujaf-22	109	8	observed	observe	VERB
gujaf-22	109	9	abnormal	abnormal	ADJ
gujaf-22	109	10	returns	return	NOUN
gujaf-22	109	11	were	be	AUX
gujaf-22	109	12	tested	test	VERB
gujaf-22	109	13	for	for	ADP
gujaf-22	109	14	statistical	statistical	ADJ
gujaf-22	109	15	significance	significance	NOUN
gujaf-22	109	16	.	.	PUNCT
gujaf-22	110	1	in	in	ADP
gujaf-22	110	2	a	a	DET
gujaf-22	110	3	related	related	ADJ
gujaf-22	110	4	study	study	NOUN
gujaf-22	110	5	,	,	PUNCT
gujaf-22	110	6	omuchesi	omuchesi	NUM
gujaf-22	110	7	,	,	PUNCT
gujaf-22	110	8	et	et	PROPN
gujaf-22	110	9	al	al	PROPN
gujaf-22	110	10	.	.	PUNCT
gujaf-22	111	1	(	(	PUNCT
gujaf-22	111	2	2014	2014	NUM
gujaf-22	111	3	)	)	PUNCT
gujaf-22	111	4	assessed	assessed	ADJ
gujaf-22	111	5	effect	effect	NOUN
gujaf-22	111	6	of	of	ADP
gujaf-22	111	7	automation	automation	NOUN
gujaf-22	111	8	on	on	ADP
gujaf-22	111	9	efficiency	efficiency	NOUN
gujaf-22	111	10	of	of	ADP
gujaf-22	111	11	the	the	DET
gujaf-22	111	12	kenyan	kenyan	ADJ
gujaf-22	111	13	stock	stock	NOUN
gujaf-22	111	14	market	market	NOUN
gujaf-22	111	15	using	use	VERB
gujaf-22	111	16	data	datum	NOUN
gujaf-22	111	17	from	from	ADP
gujaf-22	111	18	2002	2002	NUM
gujaf-22	111	19	-	-	SYM
gujaf-22	111	20	2012	2012	NUM
gujaf-22	111	21	.	.	PUNCT
gujaf-22	112	1	using	use	VERB
gujaf-22	112	2	chi	chi	ADJ
gujaf-22	112	3	-	-	PUNCT
gujaf-22	112	4	square	square	NOUN
gujaf-22	112	5	analysis	analysis	NOUN
gujaf-22	112	6	,	,	PUNCT
gujaf-22	112	7	the	the	DET
gujaf-22	112	8	study	study	NOUN
gujaf-22	112	9	found	find	VERB
gujaf-22	112	10	that	that	DET
gujaf-22	112	11	automation	automation	NOUN
gujaf-22	112	12	had	have	VERB
gujaf-22	112	13	no	no	DET
gujaf-22	112	14	significant	significant	ADJ
gujaf-22	112	15	effect	effect	NOUN
gujaf-22	112	16	on	on	ADP
gujaf-22	112	17	efficiency	efficiency	NOUN
gujaf-22	112	18	of	of	ADP
gujaf-22	112	19	the	the	DET
gujaf-22	112	20	nse	nse	NOUN
gujaf-22	112	21	.	.	PUNCT
gujaf-22	113	1	however	however	ADV
gujaf-22	113	2	,	,	PUNCT
gujaf-22	113	3	the	the	DET
gujaf-22	113	4	technique	technique	NOUN
gujaf-22	113	5	of	of	ADP
gujaf-22	113	6	analysis	analysis	NOUN
gujaf-22	113	7	used	use	VERB
gujaf-22	113	8	may	may	AUX
gujaf-22	113	9	not	not	PART
gujaf-22	113	10	be	be	AUX
gujaf-22	113	11	appropriate	appropriate	ADJ
gujaf-22	113	12	for	for	ADP
gujaf-22	113	13	establishing	establish	VERB
gujaf-22	113	14	market	market	NOUN
gujaf-22	113	15	efficiency	efficiency	NOUN
gujaf-22	113	16	.	.	PUNCT
gujaf-22	114	1	owido	owido	NOUN
gujaf-22	114	2	,	,	PUNCT
gujaf-22	114	3	bichanga	bichanga	NOUN
gujaf-22	114	4	and	and	CCONJ
gujaf-22	114	5	muiruri	muiruri	NOUN
gujaf-22	114	6	(	(	PUNCT
gujaf-22	114	7	2014	2014	NUM
gujaf-22	114	8	)	)	PUNCT
gujaf-22	114	9	examined	examine	VERB
gujaf-22	114	10	performance	performance	NOUN
gujaf-22	114	11	of	of	ADP
gujaf-22	114	12	the	the	DET
gujaf-22	114	13	nse	nse	NOUN
gujaf-22	114	14	in	in	ADP
gujaf-22	114	15	the	the	DET
gujaf-22	114	16	face	face	NOUN
gujaf-22	114	17	of	of	ADP
gujaf-22	114	18	improved	improve	VERB
gujaf-22	114	19	ict	ict	NOUN
gujaf-22	114	20	adoption	adoption	NOUN
gujaf-22	114	21	by	by	ADP
gujaf-22	114	22	the	the	DET
gujaf-22	114	23	market	market	NOUN
gujaf-22	114	24	.	.	PUNCT
gujaf-22	115	1	the	the	DET
gujaf-22	115	2	study	study	NOUN
gujaf-22	115	3	employed	employ	VERB
gujaf-22	115	4	nonparametric	nonparametric	NOUN
gujaf-22	115	5	methods	method	NOUN
gujaf-22	115	6	of	of	ADP
gujaf-22	115	7	runs	run	NOUN
gujaf-22	115	8	tests	test	VERB
gujaf-22	115	9	kolmogorov	kolmogorov	ADJ
gujaf-22	115	10	-	-	PUNCT
gujaf-22	115	11	sminov	sminov	NOUN
gujaf-22	115	12	tests	test	NOUN
gujaf-22	115	13	,	,	PUNCT
gujaf-22	115	14	qq	qq	NOUN
gujaf-22	115	15	-	-	NOUN
gujaf-22	115	16	plots	plot	NOUN
gujaf-22	115	17	and	and	CCONJ
gujaf-22	115	18	pp	pp	NOUN
gujaf-22	115	19	-	-	PUNCT
gujaf-22	115	20	plots	plot	NOUN
gujaf-22	115	21	to	to	PART
gujaf-22	115	22	investigate	investigate	VERB
gujaf-22	115	23	randomness	randomness	NOUN
gujaf-22	115	24	in	in	ADP
gujaf-22	115	25	the	the	DET
gujaf-22	115	26	market	market	NOUN
gujaf-22	115	27	return	return	NOUN
gujaf-22	115	28	series	series	NOUN
gujaf-22	115	29	from	from	ADP
gujaf-22	115	30	january	january	PROPN
gujaf-22	115	31	2006	2006	NUM
gujaf-22	115	32	to	to	ADP
gujaf-22	115	33	november	november	PROPN
gujaf-22	115	34	2011	2011	NUM
gujaf-22	115	35	.	.	PUNCT
gujaf-22	116	1	the	the	DET
gujaf-22	116	2	study	study	NOUN
gujaf-22	116	3	found	find	VERB
gujaf-22	116	4	that	that	SCONJ
gujaf-22	116	5	the	the	DET
gujaf-22	116	6	nse	nse	NOUN
gujaf-22	116	7	return	return	NOUN
gujaf-22	116	8	was	be	AUX
gujaf-22	116	9	not	not	PART
gujaf-22	116	10	random	random	ADJ
gujaf-22	116	11	and	and	CCONJ
gujaf-22	116	12	the	the	PRON
gujaf-22	116	13	thus	thus	ADV
gujaf-22	116	14	exhibited	exhibit	VERB
gujaf-22	116	15	non	non	ADJ
gujaf-22	116	16	-	-	NOUN
gujaf-22	116	17	normality	normality	NOUN
gujaf-22	116	18	in	in	ADP
gujaf-22	116	19	its	its	PRON
gujaf-22	116	20	distribution	distribution	NOUN
gujaf-22	116	21	.	.	PUNCT
gujaf-22	117	1	it	it	PRON
gujaf-22	117	2	was	be	AUX
gujaf-22	117	3	concluded	conclude	VERB
gujaf-22	117	4	that	that	SCONJ
gujaf-22	117	5	the	the	DET
gujaf-22	117	6	market	market	NOUN
gujaf-22	117	7	was	be	AUX
gujaf-22	117	8	gujaf	gujaf	NOUN
gujaf-22	117	9	:	:	PUNCT
gujaf-22	117	10	gusau	gusau	PROPN
gujaf-22	117	11	journal	journal	NOUN
gujaf-22	117	12	of	of	ADP
gujaf-22	117	13	accounting	accounting	NOUN
gujaf-22	117	14	and	and	CCONJ
gujaf-22	117	15	finance	finance	NOUN
gujaf-22	117	16	,	,	PUNCT
gujaf-22	117	17	vol	vol	NOUN
gujaf-22	117	18	.	.	PUNCT
gujaf-22	118	1	i	i	PRON
gujaf-22	118	2	,	,	PUNCT
gujaf-22	118	3	issue	issue	NOUN
gujaf-22	118	4	1	1	NUM
gujaf-22	118	5	,	,	PUNCT
gujaf-22	118	6	april	april	PROPN
gujaf-22	118	7	,	,	PUNCT
gujaf-22	118	8	2020	2020	NUM
gujaf-22	118	9	issn	issn	VERB
gujaf-22	118	10	2756	2756	NUM
gujaf-22	118	11	-	-	PUNCT
gujaf-22	118	12	665x	665x	NOUN
gujaf-22	118	13	7	7	NUM
gujaf-22	118	14	inefficient	inefficient	ADJ
gujaf-22	118	15	in	in	ADP
gujaf-22	118	16	the	the	DET
gujaf-22	118	17	weak	weak	ADJ
gujaf-22	118	18	-	-	PUNCT
gujaf-22	118	19	form	form	NOUN
gujaf-22	118	20	sense	sense	NOUN
gujaf-22	118	21	.	.	PUNCT
gujaf-22	119	1	however	however	ADV
gujaf-22	119	2	,	,	PUNCT
gujaf-22	119	3	the	the	DET
gujaf-22	119	4	use	use	NOUN
gujaf-22	119	5	of	of	ADP
gujaf-22	119	6	non	non	ADJ
gujaf-22	119	7	-	-	ADJ
gujaf-22	119	8	parametric	parametric	ADJ
gujaf-22	119	9	tools	tool	NOUN
gujaf-22	119	10	to	to	PART
gujaf-22	119	11	test	test	VERB
gujaf-22	119	12	for	for	ADP
gujaf-22	119	13	the	the	DET
gujaf-22	119	14	impact	impact	NOUN
gujaf-22	119	15	of	of	ADP
gujaf-22	119	16	ict	ict	PROPN
gujaf-22	119	17	appears	appear	VERB
gujaf-22	119	18	to	to	PART
gujaf-22	119	19	be	be	AUX
gujaf-22	119	20	inappropriate	inappropriate	ADJ
gujaf-22	119	21	.	.	PUNCT
gujaf-22	120	1	like	like	ADP
gujaf-22	120	2	seos	seo	NOUN
gujaf-22	120	3	,	,	PUNCT
gujaf-22	120	4	most	most	ADJ
gujaf-22	120	5	of	of	ADP
gujaf-22	120	6	the	the	DET
gujaf-22	120	7	studies	study	NOUN
gujaf-22	120	8	that	that	PRON
gujaf-22	120	9	have	have	AUX
gujaf-22	120	10	examined	examine	VERB
gujaf-22	120	11	the	the	DET
gujaf-22	120	12	nexus	nexus	NOUN
gujaf-22	120	13	between	between	ADP
gujaf-22	120	14	ict	ict	PROPN
gujaf-22	120	15	and	and	CCONJ
gujaf-22	120	16	market	market	NOUN
gujaf-22	120	17	efficiency	efficiency	NOUN
gujaf-22	120	18	were	be	AUX
gujaf-22	120	19	from	from	ADP
gujaf-22	120	20	non	non	ADJ
gujaf-22	120	21	-	-	ADJ
gujaf-22	120	22	african	african	ADJ
gujaf-22	120	23	stock	stock	NOUN
gujaf-22	120	24	markets	market	NOUN
gujaf-22	120	25	.	.	PUNCT
gujaf-22	121	1	for	for	ADP
gujaf-22	121	2	instance	instance	NOUN
gujaf-22	121	3	,	,	PUNCT
gujaf-22	121	4	lee	lee	PROPN
gujaf-22	121	5	,	,	PUNCT
gujaf-22	121	6	et	et	PROPN
gujaf-22	121	7	al	al	PROPN
gujaf-22	121	8	.	.	PROPN
gujaf-22	122	1	(	(	PUNCT
gujaf-22	122	2	2017	2017	NUM
gujaf-22	122	3	)	)	PUNCT
gujaf-22	122	4	investigated	investigate	VERB
gujaf-22	122	5	the	the	DET
gujaf-22	122	6	effect	effect	NOUN
gujaf-22	122	7	of	of	ADP
gujaf-22	122	8	ict	ict	NOUN
gujaf-22	122	9	on	on	ADP
gujaf-22	122	10	market	market	NOUN
gujaf-22	122	11	capitalization	capitalization	NOUN
gujaf-22	122	12	using	use	VERB
gujaf-22	122	13	a	a	DET
gujaf-22	122	14	cross	cross	ADJ
gujaf-22	122	15	-	-	ADJ
gujaf-22	122	16	country	country	ADJ
gujaf-22	122	17	panel	panel	NOUN
gujaf-22	122	18	dataset	dataset	VERB
gujaf-22	122	19	consisting	consist	VERB
gujaf-22	122	20	of	of	ADP
gujaf-22	122	21	81	81	NUM
gujaf-22	122	22	countries	country	NOUN
gujaf-22	122	23	from	from	ADP
gujaf-22	122	24	1998	1998	NUM
gujaf-22	122	25	to	to	ADP
gujaf-22	122	26	2014	2014	NUM
gujaf-22	122	27	.	.	PUNCT
gujaf-22	123	1	using	use	VERB
gujaf-22	123	2	country	country	NOUN
gujaf-22	123	3	-	-	PUNCT
gujaf-22	123	4	specific	specific	ADJ
gujaf-22	123	5	fixed	fix	VERB
gujaf-22	123	6	effect	effect	NOUN
gujaf-22	123	7	models	model	NOUN
gujaf-22	123	8	,	,	PUNCT
gujaf-22	123	9	the	the	DET
gujaf-22	123	10	study	study	NOUN
gujaf-22	123	11	found	find	VERB
gujaf-22	123	12	positive	positive	ADJ
gujaf-22	123	13	correlation	correlation	NOUN
gujaf-22	123	14	between	between	ADP
gujaf-22	123	15	ict	ict	PROPN
gujaf-22	123	16	deployment	deployment	NOUN
gujaf-22	123	17	and	and	CCONJ
gujaf-22	123	18	growth	growth	NOUN
gujaf-22	123	19	in	in	ADP
gujaf-22	123	20	stock	stock	NOUN
gujaf-22	123	21	market	market	NOUN
gujaf-22	123	22	capitalization	capitalization	NOUN
gujaf-22	123	23	.	.	PUNCT
gujaf-22	124	1	the	the	DET
gujaf-22	124	2	study	study	NOUN
gujaf-22	124	3	concluded	conclude	VERB
gujaf-22	124	4	that	that	SCONJ
gujaf-22	124	5	increased	increase	VERB
gujaf-22	124	6	deployment	deployment	NOUN
gujaf-22	124	7	of	of	ADP
gujaf-22	124	8	ict	ict	PROPN
gujaf-22	124	9	can	can	AUX
gujaf-22	124	10	enhance	enhance	VERB
gujaf-22	124	11	efficient	efficient	ADJ
gujaf-22	124	12	information	information	NOUN
gujaf-22	124	13	flows	flow	NOUN
gujaf-22	124	14	within	within	ADP
gujaf-22	124	15	local	local	ADJ
gujaf-22	124	16	and	and	CCONJ
gujaf-22	124	17	across	across	ADP
gujaf-22	124	18	global	global	ADJ
gujaf-22	124	19	financial	financial	ADJ
gujaf-22	124	20	markets	market	NOUN
gujaf-22	124	21	.	.	PUNCT
gujaf-22	125	1	however	however	ADV
gujaf-22	125	2	,	,	PUNCT
gujaf-22	125	3	non	non	ADJ
gujaf-22	125	4	-	-	NOUN
gujaf-22	125	5	inclusion	inclusion	NOUN
gujaf-22	125	6	of	of	ADP
gujaf-22	125	7	several	several	ADJ
gujaf-22	125	8	other	other	ADJ
gujaf-22	125	9	crucial	crucial	ADJ
gujaf-22	125	10	variables	variable	NOUN
gujaf-22	125	11	that	that	PRON
gujaf-22	125	12	affect	affect	VERB
gujaf-22	125	13	stock	stock	NOUN
gujaf-22	125	14	market	market	NOUN
gujaf-22	125	15	capitalization	capitalization	NOUN
gujaf-22	125	16	may	may	AUX
gujaf-22	125	17	have	have	AUX
gujaf-22	125	18	affected	affect	VERB
gujaf-22	125	19	explanatory	explanatory	ADJ
gujaf-22	125	20	power	power	NOUN
gujaf-22	125	21	of	of	ADP
gujaf-22	125	22	the	the	DET
gujaf-22	125	23	model	model	NOUN
gujaf-22	125	24	estimated	estimate	VERB
gujaf-22	125	25	by	by	ADP
gujaf-22	125	26	the	the	DET
gujaf-22	125	27	study	study	NOUN
gujaf-22	125	28	.	.	PUNCT
gujaf-22	126	1	also	also	ADV
gujaf-22	126	2	,	,	PUNCT
gujaf-22	126	3	lee	lee	PROPN
gujaf-22	126	4	,	,	PUNCT
gujaf-22	126	5	et	et	PROPN
gujaf-22	126	6	al	al	PROPN
gujaf-22	126	7	.	.	PROPN
gujaf-22	127	1	(	(	PUNCT
gujaf-22	127	2	2019	2019	NUM
gujaf-22	127	3	)	)	PUNCT
gujaf-22	127	4	employed	employ	VERB
gujaf-22	127	5	a	a	DET
gujaf-22	127	6	cross	cross	ADJ
gujaf-22	127	7	-	-	ADJ
gujaf-22	127	8	country	country	ADJ
gujaf-22	127	9	dataset	dataset	NOUN
gujaf-22	127	10	of	of	ADP
gujaf-22	127	11	71	71	NUM
gujaf-22	127	12	stock	stock	NOUN
gujaf-22	127	13	markets	market	NOUN
gujaf-22	127	14	between	between	ADP
gujaf-22	127	15	2002	2002	NUM
gujaf-22	127	16	and	and	CCONJ
gujaf-22	127	17	2014	2014	NUM
gujaf-22	127	18	to	to	PART
gujaf-22	127	19	investigate	investigate	VERB
gujaf-22	127	20	the	the	DET
gujaf-22	127	21	extent	extent	NOUN
gujaf-22	127	22	to	to	PART
gujaf-22	127	23	which	which	PRON
gujaf-22	127	24	ict	ict	NOUN
gujaf-22	127	25	has	have	AUX
gujaf-22	127	26	promoted	promote	VERB
gujaf-22	127	27	transparency	transparency	NOUN
gujaf-22	127	28	in	in	ADP
gujaf-22	127	29	the	the	DET
gujaf-22	127	30	dissemination	dissemination	NOUN
gujaf-22	127	31	of	of	ADP
gujaf-22	127	32	stock	stock	NOUN
gujaf-22	127	33	market	market	NOUN
gujaf-22	127	34	news	news	NOUN
gujaf-22	127	35	and	and	CCONJ
gujaf-22	127	36	information	information	NOUN
gujaf-22	127	37	.	.	PUNCT
gujaf-22	128	1	findings	finding	NOUN
gujaf-22	128	2	based	base	VERB
gujaf-22	128	3	on	on	ADP
gujaf-22	128	4	panel	panel	NOUN
gujaf-22	128	5	unit	unit	NOUN
gujaf-22	128	6	root	root	NOUN
gujaf-22	128	7	tests	test	NOUN
gujaf-22	128	8	and	and	CCONJ
gujaf-22	128	9	variance	variance	NOUN
gujaf-22	128	10	ratio	ratio	NOUN
gujaf-22	128	11	tests	test	NOUN
gujaf-22	128	12	indicated	indicate	VERB
gujaf-22	128	13	that	that	SCONJ
gujaf-22	128	14	countries	country	NOUN
gujaf-22	128	15	with	with	ADP
gujaf-22	128	16	higher	high	ADJ
gujaf-22	128	17	ict	ict	NOUN
gujaf-22	128	18	diffusion	diffusion	NOUN
gujaf-22	128	19	were	be	AUX
gujaf-22	128	20	more	more	ADV
gujaf-22	128	21	efficient	efficient	ADJ
gujaf-22	128	22	than	than	ADP
gujaf-22	128	23	those	those	PRON
gujaf-22	128	24	with	with	ADP
gujaf-22	128	25	low	low	ADJ
gujaf-22	128	26	to	to	ADP
gujaf-22	128	27	medium	medium	ADJ
gujaf-22	128	28	diffusion	diffusion	NOUN
gujaf-22	128	29	levels	level	NOUN
gujaf-22	128	30	.	.	PUNCT
gujaf-22	129	1	the	the	DET
gujaf-22	129	2	study	study	NOUN
gujaf-22	129	3	also	also	ADV
gujaf-22	129	4	found	find	VERB
gujaf-22	129	5	that	that	SCONJ
gujaf-22	129	6	ict	ict	PROPN
gujaf-22	129	7	diffusion	diffusion	NOUN
gujaf-22	129	8	was	be	AUX
gujaf-22	129	9	more	more	ADV
gujaf-22	129	10	significant	significant	ADJ
gujaf-22	129	11	in	in	ADP
gujaf-22	129	12	reducing	reduce	VERB
gujaf-22	129	13	stock	stock	NOUN
gujaf-22	129	14	market	market	NOUN
gujaf-22	129	15	noise	noise	NOUN
gujaf-22	129	16	rather	rather	ADV
gujaf-22	129	17	than	than	ADP
gujaf-22	129	18	amplifying	amplify	VERB
gujaf-22	129	19	it	it	PRON
gujaf-22	129	20	.	.	PUNCT
gujaf-22	130	1	it	it	PRON
gujaf-22	130	2	was	be	AUX
gujaf-22	130	3	concluded	conclude	VERB
gujaf-22	130	4	that	that	SCONJ
gujaf-22	130	5	ict	ict	PROPN
gujaf-22	130	6	has	have	VERB
gujaf-22	130	7	significant	significant	ADJ
gujaf-22	130	8	effect	effect	NOUN
gujaf-22	130	9	on	on	ADP
gujaf-22	130	10	stock	stock	NOUN
gujaf-22	130	11	market	market	NOUN
gujaf-22	130	12	efficiency	efficiency	NOUN
gujaf-22	130	13	.	.	PUNCT
gujaf-22	131	1	however	however	ADV
gujaf-22	131	2	,	,	PUNCT
gujaf-22	131	3	the	the	DET
gujaf-22	131	4	mere	mere	ADJ
gujaf-22	131	5	use	use	NOUN
gujaf-22	131	6	of	of	ADP
gujaf-22	131	7	unit	unit	NOUN
gujaf-22	131	8	root	root	NOUN
gujaf-22	131	9	and	and	CCONJ
gujaf-22	131	10	variance	variance	NOUN
gujaf-22	131	11	ratio	ratio	NOUN
gujaf-22	131	12	tests	test	NOUN
gujaf-22	131	13	may	may	AUX
gujaf-22	131	14	affect	affect	VERB
gujaf-22	131	15	the	the	DET
gujaf-22	131	16	findings	finding	NOUN
gujaf-22	131	17	.	.	PUNCT
gujaf-22	132	1	this	this	DET
gujaf-22	132	2	study	study	NOUN
gujaf-22	132	3	is	be	AUX
gujaf-22	132	4	underpinned	underpin	VERB
gujaf-22	132	5	by	by	ADP
gujaf-22	132	6	the	the	DET
gujaf-22	132	7	market	market	NOUN
gujaf-22	132	8	efficiency	efficiency	NOUN
gujaf-22	132	9	theory	theory	NOUN
gujaf-22	132	10	propounded	propound	VERB
gujaf-22	132	11	by	by	ADP
gujaf-22	132	12	fama	fama	PROPN
gujaf-22	132	13	(	(	PUNCT
gujaf-22	132	14	1965	1965	NUM
gujaf-22	132	15	)	)	PUNCT
gujaf-22	132	16	and	and	CCONJ
gujaf-22	132	17	popularized	popularize	VERB
gujaf-22	132	18	by	by	ADP
gujaf-22	132	19	subsequent	subsequent	ADJ
gujaf-22	132	20	works	work	NOUN
gujaf-22	132	21	of	of	ADP
gujaf-22	132	22	fama	fama	PROPN
gujaf-22	132	23	(	(	PUNCT
gujaf-22	132	24	1970	1970	NUM
gujaf-22	132	25	,	,	PUNCT
gujaf-22	132	26	1991	1991	NUM
gujaf-22	132	27	,	,	PUNCT
gujaf-22	132	28	1998	1998	NUM
gujaf-22	132	29	)	)	PUNCT
gujaf-22	132	30	.	.	PUNCT
gujaf-22	133	1	in	in	ADP
gujaf-22	133	2	its	its	PRON
gujaf-22	133	3	simplest	simple	ADJ
gujaf-22	133	4	form	form	NOUN
gujaf-22	133	5	,	,	PUNCT
gujaf-22	133	6	the	the	DET
gujaf-22	133	7	efficient	efficient	ADJ
gujaf-22	133	8	market	market	NOUN
gujaf-22	133	9	theory	theory	NOUN
gujaf-22	133	10	holds	hold	VERB
gujaf-22	133	11	that	that	SCONJ
gujaf-22	133	12	in	in	ADP
gujaf-22	133	13	an	an	DET
gujaf-22	133	14	efficient	efficient	ADJ
gujaf-22	133	15	market	market	NOUN
gujaf-22	133	16	,	,	PUNCT
gujaf-22	133	17	stock	stock	NOUN
gujaf-22	133	18	prices	price	NOUN
gujaf-22	133	19	adjust	adjust	VERB
gujaf-22	133	20	instantaneously	instantaneously	ADV
gujaf-22	133	21	to	to	PART
gujaf-22	133	22	impound	impound	VERB
gujaf-22	133	23	new	new	ADJ
gujaf-22	133	24	information	information	NOUN
gujaf-22	133	25	so	so	SCONJ
gujaf-22	133	26	that	that	SCONJ
gujaf-22	133	27	no	no	DET
gujaf-22	133	28	investor	investor	NOUN
gujaf-22	133	29	is	be	AUX
gujaf-22	133	30	given	give	VERB
gujaf-22	133	31	undue	undue	ADJ
gujaf-22	133	32	advantage	advantage	NOUN
gujaf-22	133	33	to	to	PART
gujaf-22	133	34	use	use	VERB
gujaf-22	133	35	such	such	ADJ
gujaf-22	133	36	information	information	NOUN
gujaf-22	133	37	exclusively	exclusively	ADV
gujaf-22	133	38	to	to	ADP
gujaf-22	133	39	the	the	DET
gujaf-22	133	40	detriment	detriment	NOUN
gujaf-22	133	41	of	of	ADP
gujaf-22	133	42	other	other	ADJ
gujaf-22	133	43	market	market	NOUN
gujaf-22	133	44	participants	participant	NOUN
gujaf-22	133	45	and	and	CCONJ
gujaf-22	133	46	agents	agent	NOUN
gujaf-22	133	47	.	.	PUNCT
gujaf-22	134	1	since	since	SCONJ
gujaf-22	134	2	its	its	PRON
gujaf-22	134	3	introduction	introduction	NOUN
gujaf-22	134	4	,	,	PUNCT
gujaf-22	134	5	a	a	DET
gujaf-22	134	6	number	number	NOUN
gujaf-22	134	7	of	of	ADP
gujaf-22	134	8	studies	study	NOUN
gujaf-22	134	9	have	have	AUX
gujaf-22	134	10	supported	support	VERB
gujaf-22	134	11	the	the	DET
gujaf-22	134	12	validity	validity	NOUN
gujaf-22	134	13	of	of	ADP
gujaf-22	134	14	this	this	DET
gujaf-22	134	15	theory	theory	NOUN
gujaf-22	134	16	by	by	ADP
gujaf-22	134	17	confirming	confirm	VERB
gujaf-22	134	18	that	that	SCONJ
gujaf-22	134	19	stock	stock	NOUN
gujaf-22	134	20	markets	market	NOUN
gujaf-22	134	21	adjust	adjust	VERB
gujaf-22	134	22	prices	price	NOUN
gujaf-22	134	23	to	to	PART
gujaf-22	134	24	reflect	reflect	VERB
gujaf-22	134	25	the	the	DET
gujaf-22	134	26	public	public	ADJ
gujaf-22	134	27	announcement	announcement	NOUN
gujaf-22	134	28	of	of	ADP
gujaf-22	134	29	corporate	corporate	ADJ
gujaf-22	134	30	events	event	NOUN
gujaf-22	134	31	.	.	PUNCT
gujaf-22	135	1	being	be	AUX
gujaf-22	135	2	a	a	DET
gujaf-22	135	3	major	major	ADJ
gujaf-22	135	4	corporate	corporate	ADJ
gujaf-22	135	5	event	event	NOUN
gujaf-22	135	6	seo	seo	NOUN
gujaf-22	135	7	announcement	announcement	NOUN
gujaf-22	135	8	elicits	elicit	VERB
gujaf-22	135	9	market	market	NOUN
gujaf-22	135	10	response	response	NOUN
gujaf-22	135	11	,	,	PUNCT
gujaf-22	135	12	and	and	CCONJ
gujaf-22	135	13	the	the	DET
gujaf-22	135	14	magnitude	magnitude	NOUN
gujaf-22	135	15	of	of	ADP
gujaf-22	135	16	reaction	reaction	NOUN
gujaf-22	135	17	will	will	AUX
gujaf-22	135	18	depend	depend	VERB
gujaf-22	135	19	on	on	ADP
gujaf-22	135	20	the	the	DET
gujaf-22	135	21	type	type	NOUN
gujaf-22	135	22	of	of	ADP
gujaf-22	135	23	offering	offering	NOUN
gujaf-22	135	24	.	.	PUNCT
gujaf-22	136	1	therefore	therefore	ADV
gujaf-22	136	2	,	,	PUNCT
gujaf-22	136	3	the	the	DET
gujaf-22	136	4	announcement	announcement	NOUN
gujaf-22	136	5	of	of	ADP
gujaf-22	136	6	seos	seo	NOUN
gujaf-22	136	7	in	in	ADP
gujaf-22	136	8	nigeria	nigeria	PROPN
gujaf-22	136	9	should	should	AUX
gujaf-22	136	10	translate	translate	VERB
gujaf-22	136	11	to	to	ADP
gujaf-22	136	12	market	market	NOUN
gujaf-22	136	13	changes	change	NOUN
gujaf-22	136	14	that	that	PRON
gujaf-22	136	15	will	will	AUX
gujaf-22	136	16	reflect	reflect	VERB
gujaf-22	136	17	the	the	DET
gujaf-22	136	18	perceived	perceive	VERB
gujaf-22	136	19	value	value	NOUN
gujaf-22	136	20	of	of	ADP
gujaf-22	136	21	such	such	ADJ
gujaf-22	136	22	corporate	corporate	ADJ
gujaf-22	136	23	action	action	NOUN
gujaf-22	136	24	to	to	ADP
gujaf-22	136	25	investors	investor	NOUN
gujaf-22	136	26	and	and	CCONJ
gujaf-22	136	27	other	other	ADJ
gujaf-22	136	28	market	market	NOUN
gujaf-22	136	29	participants	participant	NOUN
gujaf-22	136	30	.	.	PUNCT
gujaf-22	137	1	similarly	similarly	ADV
gujaf-22	137	2	,	,	PUNCT
gujaf-22	137	3	a	a	DET
gujaf-22	137	4	major	major	ADJ
gujaf-22	137	5	action	action	NOUN
gujaf-22	137	6	such	such	ADJ
gujaf-22	137	7	as	as	ADP
gujaf-22	137	8	the	the	DET
gujaf-22	137	9	automation	automation	NOUN
gujaf-22	137	10	of	of	ADP
gujaf-22	137	11	the	the	DET
gujaf-22	137	12	nigerian	nigerian	ADJ
gujaf-22	137	13	stock	stock	NOUN
gujaf-22	137	14	market	market	NOUN
gujaf-22	137	15	trading	trading	NOUN
gujaf-22	137	16	floors	floor	NOUN
gujaf-22	137	17	should	should	AUX
gujaf-22	137	18	result	result	VERB
gujaf-22	137	19	in	in	ADP
gujaf-22	137	20	enhanced	enhanced	ADJ
gujaf-22	137	21	dissemination	dissemination	NOUN
gujaf-22	137	22	of	of	ADP
gujaf-22	137	23	market	market	NOUN
gujaf-22	137	24	information	information	NOUN
gujaf-22	137	25	;	;	PUNCT
gujaf-22	137	26	and	and	CCONJ
gujaf-22	137	27	this	this	PRON
gujaf-22	137	28	should	should	AUX
gujaf-22	137	29	in	in	ADP
gujaf-22	137	30	turn	turn	NOUN
gujaf-22	137	31	have	have	VERB
gujaf-22	137	32	some	some	DET
gujaf-22	137	33	implications	implication	NOUN
gujaf-22	137	34	for	for	ADP
gujaf-22	137	35	how	how	SCONJ
gujaf-22	137	36	investors	investor	NOUN
gujaf-22	137	37	value	value	VERB
gujaf-22	137	38	corporate	corporate	ADJ
gujaf-22	137	39	actions	action	NOUN
gujaf-22	137	40	such	such	ADJ
gujaf-22	137	41	as	as	ADP
gujaf-22	137	42	seo	seo	NOUN
gujaf-22	137	43	announcements	announcement	NOUN
gujaf-22	137	44	.	.	PUNCT
gujaf-22	138	1	gujaf	gujaf	NOUN
gujaf-22	138	2	:	:	PUNCT
gujaf-22	138	3	gusau	gusau	PROPN
gujaf-22	138	4	journal	journal	NOUN
gujaf-22	138	5	of	of	ADP
gujaf-22	138	6	accounting	accounting	NOUN
gujaf-22	138	7	and	and	CCONJ
gujaf-22	138	8	finance	finance	NOUN
gujaf-22	138	9	,	,	PUNCT
gujaf-22	138	10	vol	vol	NOUN
gujaf-22	138	11	.	.	PUNCT
gujaf-22	139	1	i	i	PRON
gujaf-22	139	2	,	,	PUNCT
gujaf-22	139	3	issue	issue	NOUN
gujaf-22	139	4	1	1	NUM
gujaf-22	139	5	,	,	PUNCT
gujaf-22	139	6	april	april	PROPN
gujaf-22	139	7	,	,	PUNCT
gujaf-22	139	8	2020	2020	NUM
gujaf-22	139	9	issn	issn	VERB
gujaf-22	139	10	2756	2756	NUM
gujaf-22	139	11	-	-	PUNCT
gujaf-22	139	12	665x	665x	NOUN
gujaf-22	139	13	8	8	NUM
gujaf-22	139	14	3	3	NUM
gujaf-22	139	15	.	.	PUNCT
gujaf-22	139	16	methodology	methodology	NOUN
gujaf-22	139	17	and	and	CCONJ
gujaf-22	139	18	models	model	NOUN
gujaf-22	139	19	this	this	DET
gujaf-22	139	20	paper	paper	NOUN
gujaf-22	139	21	examined	examine	VERB
gujaf-22	139	22	effect	effect	NOUN
gujaf-22	139	23	of	of	ADP
gujaf-22	139	24	trading	trading	NOUN
gujaf-22	139	25	automation	automation	NOUN
gujaf-22	139	26	reaction	reaction	NOUN
gujaf-22	139	27	of	of	ADP
gujaf-22	139	28	the	the	DET
gujaf-22	139	29	nigerian	nigerian	ADJ
gujaf-22	139	30	stock	stock	NOUN
gujaf-22	139	31	market	market	NOUN
gujaf-22	139	32	to	to	ADP
gujaf-22	139	33	seos	seo	NOUN
gujaf-22	139	34	announcements	announcement	NOUN
gujaf-22	139	35	.	.	PUNCT
gujaf-22	140	1	the	the	DET
gujaf-22	140	2	paper	paper	NOUN
gujaf-22	140	3	employed	employ	VERB
gujaf-22	140	4	the	the	DET
gujaf-22	140	5	standard	standard	ADJ
gujaf-22	140	6	event	event	NOUN
gujaf-22	140	7	study	study	NOUN
gujaf-22	140	8	methodology	methodology	NOUN
gujaf-22	140	9	developed	develop	VERB
gujaf-22	140	10	by	by	ADP
gujaf-22	140	11	fama	fama	PROPN
gujaf-22	140	12	,	,	PUNCT
gujaf-22	140	13	et	et	PROPN
gujaf-22	140	14	al	al	PROPN
gujaf-22	140	15	.	.	PROPN
gujaf-22	141	1	(	(	PUNCT
gujaf-22	141	2	1969	1969	NUM
gujaf-22	141	3	)	)	PUNCT
gujaf-22	141	4	and	and	CCONJ
gujaf-22	141	5	popularized	popularize	VERB
gujaf-22	141	6	by	by	ADP
gujaf-22	141	7	brown	brown	PROPN
gujaf-22	141	8	and	and	CCONJ
gujaf-22	141	9	warner	warner	PROPN
gujaf-22	141	10	(	(	PUNCT
gujaf-22	141	11	1985	1985	NUM
gujaf-22	141	12	)	)	PUNCT
gujaf-22	141	13	and	and	CCONJ
gujaf-22	141	14	mackinlay	mackinlay	NOUN
gujaf-22	141	15	(	(	PUNCT
gujaf-22	141	16	1997	1997	NUM
gujaf-22	141	17	)	)	PUNCT
gujaf-22	141	18	.	.	PUNCT
gujaf-22	142	1	in	in	ADP
gujaf-22	142	2	this	this	DET
gujaf-22	142	3	study	study	NOUN
gujaf-22	142	4	the	the	DET
gujaf-22	142	5	corporate	corporate	ADJ
gujaf-22	142	6	event	event	NOUN
gujaf-22	142	7	under	under	ADP
gujaf-22	142	8	investigation	investigation	NOUN
gujaf-22	142	9	is	be	AUX
gujaf-22	142	10	the	the	DET
gujaf-22	142	11	announcement	announcement	NOUN
gujaf-22	142	12	to	to	PART
gujaf-22	142	13	conduct	conduct	VERB
gujaf-22	142	14	seo	seo	NOUN
gujaf-22	142	15	by	by	ADP
gujaf-22	142	16	firm	firm	NOUN
gujaf-22	142	17	listed	list	VERB
gujaf-22	142	18	on	on	ADP
gujaf-22	142	19	the	the	DET
gujaf-22	142	20	nigerian	nigerian	ADJ
gujaf-22	142	21	stock	stock	NOUN
gujaf-22	142	22	exchange	exchange	NOUN
gujaf-22	142	23	from	from	ADP
gujaf-22	142	24	july	july	PROPN
gujaf-22	142	25	1995	1995	NUM
gujaf-22	142	26	to	to	ADP
gujaf-22	142	27	december	december	PROPN
gujaf-22	142	28	2019	2019	NUM
gujaf-22	142	29	.	.	PUNCT
gujaf-22	143	1	a	a	DET
gujaf-22	143	2	total	total	NOUN
gujaf-22	143	3	of	of	ADP
gujaf-22	143	4	109	109	NUM
gujaf-22	143	5	seo	seo	NOUN
gujaf-22	143	6	announcements	announcement	NOUN
gujaf-22	143	7	were	be	AUX
gujaf-22	143	8	recorded	record	VERB
gujaf-22	143	9	within	within	ADP
gujaf-22	143	10	the	the	DET
gujaf-22	143	11	period	period	NOUN
gujaf-22	143	12	of	of	ADP
gujaf-22	143	13	the	the	DET
gujaf-22	143	14	study	study	NOUN
gujaf-22	143	15	but	but	CCONJ
gujaf-22	143	16	for	for	ADP
gujaf-22	143	17	an	an	DET
gujaf-22	143	18	announcement	announcement	NOUN
gujaf-22	143	19	to	to	PART
gujaf-22	143	20	be	be	AUX
gujaf-22	143	21	considered	consider	VERB
gujaf-22	143	22	as	as	ADP
gujaf-22	143	23	part	part	NOUN
gujaf-22	143	24	of	of	ADP
gujaf-22	143	25	the	the	DET
gujaf-22	143	26	sample	sample	NOUN
gujaf-22	143	27	,	,	PUNCT
gujaf-22	143	28	it	it	PRON
gujaf-22	143	29	must	must	AUX
gujaf-22	143	30	meet	meet	VERB
gujaf-22	143	31	some	some	DET
gujaf-22	143	32	set	set	NOUN
gujaf-22	143	33	criteria	criterion	NOUN
gujaf-22	143	34	:	:	PUNCT
gujaf-22	143	35	there	there	PRON
gujaf-22	143	36	must	must	AUX
gujaf-22	143	37	be	be	AUX
gujaf-22	143	38	relevant	relevant	ADJ
gujaf-22	143	39	data	datum	NOUN
gujaf-22	143	40	on	on	ADP
gujaf-22	143	41	the	the	DET
gujaf-22	143	42	event	event	NOUN
gujaf-22	143	43	,	,	PUNCT
gujaf-22	143	44	the	the	DET
gujaf-22	143	45	announcement	announcement	NOUN
gujaf-22	143	46	must	must	AUX
gujaf-22	143	47	have	have	AUX
gujaf-22	143	48	been	be	AUX
gujaf-22	143	49	made	make	VERB
gujaf-22	143	50	publicly	publicly	ADV
gujaf-22	143	51	,	,	PUNCT
gujaf-22	143	52	the	the	DET
gujaf-22	143	53	announcement	announcement	NOUN
gujaf-22	143	54	must	must	AUX
gujaf-22	143	55	be	be	AUX
gujaf-22	143	56	for	for	ADP
gujaf-22	143	57	equity	equity	NOUN
gujaf-22	143	58	issues	issue	NOUN
gujaf-22	143	59	,	,	PUNCT
gujaf-22	143	60	and	and	CCONJ
gujaf-22	143	61	there	there	PRON
gujaf-22	143	62	must	must	AUX
gujaf-22	143	63	not	not	PART
gujaf-22	143	64	be	be	AUX
gujaf-22	143	65	a	a	DET
gujaf-22	143	66	simultaneous	simultaneous	ADJ
gujaf-22	143	67	value	value	NOUN
gujaf-22	143	68	-	-	PUNCT
gujaf-22	143	69	relevant	relevant	ADJ
gujaf-22	143	70	announcement	announcement	NOUN
gujaf-22	143	71	that	that	SCONJ
gujaf-22	143	72	that	that	PRON
gujaf-22	143	73	is	be	AUX
gujaf-22	143	74	capable	capable	ADJ
gujaf-22	143	75	of	of	ADP
gujaf-22	143	76	contaminating	contaminate	VERB
gujaf-22	143	77	the	the	DET
gujaf-22	143	78	effect	effect	NOUN
gujaf-22	143	79	of	of	ADP
gujaf-22	143	80	the	the	DET
gujaf-22	143	81	seo	seo	NOUN
gujaf-22	143	82	announcement	announcement	NOUN
gujaf-22	143	83	.	.	PUNCT
gujaf-22	144	1	application	application	NOUN
gujaf-22	144	2	of	of	ADP
gujaf-22	144	3	the	the	DET
gujaf-22	144	4	filters	filter	NOUN
gujaf-22	144	5	resulted	result	VERB
gujaf-22	144	6	in	in	ADP
gujaf-22	144	7	a	a	DET
gujaf-22	144	8	clean	clean	ADJ
gujaf-22	144	9	sample	sample	NOUN
gujaf-22	144	10	of	of	ADP
gujaf-22	144	11	86	86	NUM
gujaf-22	144	12	seo	seo	NOUN
gujaf-22	144	13	announcements	announcement	NOUN
gujaf-22	144	14	,	,	PUNCT
gujaf-22	144	15	after	after	SCONJ
gujaf-22	144	16	23	23	NUM
gujaf-22	144	17	announcements	announcement	NOUN
gujaf-22	144	18	have	have	AUX
gujaf-22	144	19	been	be	AUX
gujaf-22	144	20	dropped	drop	VERB
gujaf-22	144	21	.	.	PUNCT
gujaf-22	145	1	in	in	ADP
gujaf-22	145	2	order	order	NOUN
gujaf-22	145	3	to	to	PART
gujaf-22	145	4	test	test	VERB
gujaf-22	145	5	for	for	ADP
gujaf-22	145	6	the	the	DET
gujaf-22	145	7	effect	effect	NOUN
gujaf-22	145	8	of	of	ADP
gujaf-22	145	9	trading	trading	NOUN
gujaf-22	145	10	automation	automation	NOUN
gujaf-22	145	11	on	on	ADP
gujaf-22	145	12	the	the	DET
gujaf-22	145	13	reaction	reaction	NOUN
gujaf-22	145	14	of	of	ADP
gujaf-22	145	15	the	the	DET
gujaf-22	145	16	nigerian	nigerian	ADJ
gujaf-22	145	17	stock	stock	NOUN
gujaf-22	145	18	market	market	NOUN
gujaf-22	145	19	to	to	ADP
gujaf-22	145	20	seo	seo	NOUN
gujaf-22	145	21	announcements	announcement	NOUN
gujaf-22	145	22	,	,	PUNCT
gujaf-22	145	23	the	the	DET
gujaf-22	145	24	sample	sample	NOUN
gujaf-22	145	25	was	be	AUX
gujaf-22	145	26	partitioned	partition	VERB
gujaf-22	145	27	into	into	ADP
gujaf-22	145	28	seos	seo	NOUN
gujaf-22	145	29	before	before	ADP
gujaf-22	145	30	automation	automation	NOUN
gujaf-22	145	31	(	(	PUNCT
gujaf-22	145	32	pre	pre	NOUN
gujaf-22	145	33	-	-	NOUN
gujaf-22	145	34	automation	automation	NOUN
gujaf-22	145	35	)	)	PUNCT
gujaf-22	145	36	and	and	CCONJ
gujaf-22	145	37	seos	seo	NOUN
gujaf-22	145	38	after	after	ADP
gujaf-22	145	39	automation	automation	NOUN
gujaf-22	145	40	(	(	PUNCT
gujaf-22	145	41	post	post	NOUN
gujaf-22	145	42	-	-	NOUN
gujaf-22	145	43	automation	automation	NOUN
gujaf-22	145	44	)	)	PUNCT
gujaf-22	145	45	.	.	PUNCT
gujaf-22	146	1	based	base	VERB
gujaf-22	146	2	on	on	ADP
gujaf-22	146	3	the	the	DET
gujaf-22	146	4	nigerian	nigerian	ADJ
gujaf-22	146	5	stock	stock	NOUN
gujaf-22	146	6	exchange	exchange	PROPN
gujaf-22	146	7	’s	’s	PART
gujaf-22	146	8	announcement	announcement	NOUN
gujaf-22	146	9	on	on	ADP
gujaf-22	146	10	27th	27th	ADJ
gujaf-22	146	11	april	april	PROPN
gujaf-22	146	12	1999	1999	NUM
gujaf-22	146	13	that	that	SCONJ
gujaf-22	146	14	all	all	DET
gujaf-22	146	15	trading	trading	NOUN
gujaf-22	146	16	floors	floor	NOUN
gujaf-22	146	17	were	be	AUX
gujaf-22	146	18	fully	fully	ADV
gujaf-22	146	19	automated	automate	VERB
gujaf-22	146	20	and	and	CCONJ
gujaf-22	146	21	have	have	AUX
gujaf-22	146	22	migrated	migrate	VERB
gujaf-22	146	23	to	to	ADP
gujaf-22	146	24	the	the	DET
gujaf-22	146	25	automated	automate	VERB
gujaf-22	146	26	trading	trading	NOUN
gujaf-22	146	27	system	system	NOUN
gujaf-22	146	28	(	(	PUNCT
gujaf-22	146	29	ats	ats	PROPN
gujaf-22	146	30	)	)	PUNCT
gujaf-22	146	31	platform	platform	NOUN
gujaf-22	146	32	,	,	PUNCT
gujaf-22	146	33	the	the	DET
gujaf-22	146	34	study	study	NOUN
gujaf-22	146	35	considered	consider	VERB
gujaf-22	146	36	all	all	DET
gujaf-22	146	37	seo	seo	NOUN
gujaf-22	146	38	announcements	announcement	NOUN
gujaf-22	146	39	before	before	ADP
gujaf-22	146	40	27th	27th	ADJ
gujaf-22	146	41	april	april	PROPN
gujaf-22	146	42	1999	1999	NUM
gujaf-22	146	43	as	as	ADP
gujaf-22	146	44	pre	pre	NOUN
gujaf-22	146	45	-	-	NOUN
gujaf-22	146	46	automation	automation	NOUN
gujaf-22	146	47	and	and	CCONJ
gujaf-22	146	48	those	those	PRON
gujaf-22	146	49	announced	announce	VERB
gujaf-22	146	50	after	after	ADP
gujaf-22	146	51	27th	27th	ADJ
gujaf-22	146	52	april	april	PROPN
gujaf-22	146	53	1999	1999	NUM
gujaf-22	146	54	as	as	ADP
gujaf-22	146	55	postautomation	postautomation	NOUN
gujaf-22	146	56	seos	seo	NOUN
gujaf-22	146	57	.	.	PUNCT
gujaf-22	147	1	a	a	DET
gujaf-22	147	2	total	total	NOUN
gujaf-22	147	3	of	of	ADP
gujaf-22	147	4	27	27	NUM
gujaf-22	147	5	seo	seo	NOUN
gujaf-22	147	6	announcements	announcement	NOUN
gujaf-22	147	7	fell	fall	VERB
gujaf-22	147	8	under	under	ADP
gujaf-22	147	9	the	the	DET
gujaf-22	147	10	pre	pre	ADJ
gujaf-22	147	11	-	-	NOUN
gujaf-22	147	12	automation	automation	ADJ
gujaf-22	147	13	period	period	NOUN
gujaf-22	147	14	,	,	PUNCT
gujaf-22	147	15	while	while	SCONJ
gujaf-22	147	16	59	59	NUM
gujaf-22	147	17	seos	seo	NOUN
gujaf-22	147	18	were	be	AUX
gujaf-22	147	19	announced	announce	VERB
gujaf-22	147	20	during	during	ADP
gujaf-22	147	21	the	the	DET
gujaf-22	147	22	post	post	ADJ
gujaf-22	147	23	-	-	ADJ
gujaf-22	147	24	automation	automation	ADJ
gujaf-22	147	25	period	period	NOUN
gujaf-22	147	26	.	.	PUNCT
gujaf-22	148	1	in	in	ADP
gujaf-22	148	2	line	line	NOUN
gujaf-22	148	3	with	with	ADP
gujaf-22	148	4	requirements	requirement	NOUN
gujaf-22	148	5	of	of	ADP
gujaf-22	148	6	event	event	NOUN
gujaf-22	148	7	studies	study	NOUN
gujaf-22	148	8	,	,	PUNCT
gujaf-22	148	9	this	this	DET
gujaf-22	148	10	paper	paper	NOUN
gujaf-22	148	11	adopted	adopt	VERB
gujaf-22	148	12	an	an	DET
gujaf-22	148	13	event	event	NOUN
gujaf-22	148	14	window	window	NOUN
gujaf-22	148	15	of	of	ADP
gujaf-22	148	16	31	31	NUM
gujaf-22	148	17	trading	trading	NOUN
gujaf-22	148	18	days	day	NOUN
gujaf-22	148	19	consisting	consist	VERB
gujaf-22	148	20	of	of	ADP
gujaf-22	148	21	15	15	NUM
gujaf-22	148	22	trading	trading	NOUN
gujaf-22	148	23	days	day	NOUN
gujaf-22	148	24	before	before	ADP
gujaf-22	148	25	the	the	DET
gujaf-22	148	26	announcement	announcement	NOUN
gujaf-22	148	27	,	,	PUNCT
gujaf-22	148	28	the	the	DET
gujaf-22	148	29	announcement	announcement	NOUN
gujaf-22	148	30	day	day	NOUN
gujaf-22	148	31	,	,	PUNCT
gujaf-22	148	32	and	and	CCONJ
gujaf-22	148	33	15	15	NUM
gujaf-22	148	34	trading	trading	NOUN
gujaf-22	148	35	days	day	NOUN
gujaf-22	148	36	after	after	ADP
gujaf-22	148	37	the	the	DET
gujaf-22	148	38	announcement	announcement	NOUN
gujaf-22	148	39	.	.	PUNCT
gujaf-22	149	1	similarly	similarly	ADV
gujaf-22	149	2	,	,	PUNCT
gujaf-22	149	3	the	the	DET
gujaf-22	149	4	paper	paper	NOUN
gujaf-22	149	5	adopted	adopt	VERB
gujaf-22	149	6	an	an	DET
gujaf-22	149	7	estimation	estimation	NOUN
gujaf-22	149	8	window	window	NOUN
gujaf-22	149	9	of	of	ADP
gujaf-22	149	10	120	120	NUM
gujaf-22	149	11	trading	trading	NOUN
gujaf-22	149	12	days	day	NOUN
gujaf-22	149	13	before	before	ADP
gujaf-22	149	14	the	the	DET
gujaf-22	149	15	first	first	ADJ
gujaf-22	149	16	day	day	NOUN
gujaf-22	149	17	of	of	ADP
gujaf-22	149	18	the	the	DET
gujaf-22	149	19	event	event	NOUN
gujaf-22	149	20	window	window	NOUN
gujaf-22	149	21	.	.	PUNCT
gujaf-22	150	1	thus	thus	ADV
gujaf-22	150	2	,	,	PUNCT
gujaf-22	150	3	the	the	DET
gujaf-22	150	4	estimation	estimation	NOUN
gujaf-22	150	5	runs	run	VERB
gujaf-22	150	6	from	from	ADP
gujaf-22	150	7	day	day	NOUN
gujaf-22	150	8	-135	-135	PROPN
gujaf-22	150	9	to	to	ADP
gujaf-22	150	10	day	day	NOUN
gujaf-22	150	11	-16	-16	PUNCT
gujaf-22	150	12	while	while	SCONJ
gujaf-22	150	13	the	the	DET
gujaf-22	150	14	event	event	NOUN
gujaf-22	150	15	window	window	NOUN
gujaf-22	150	16	covers	cover	VERB
gujaf-22	150	17	-15	-15	PUNCT
gujaf-22	150	18	to	to	ADP
gujaf-22	150	19	day	day	NOUN
gujaf-22	150	20	+15	+15	NUM
gujaf-22	150	21	.	.	PUNCT
gujaf-22	151	1	the	the	DET
gujaf-22	151	2	study	study	NOUN
gujaf-22	151	3	collected	collect	VERB
gujaf-22	151	4	data	datum	NOUN
gujaf-22	151	5	on	on	ADP
gujaf-22	151	6	daily	daily	ADJ
gujaf-22	151	7	closing	closing	NOUN
gujaf-22	151	8	prices	price	NOUN
gujaf-22	151	9	of	of	ADP
gujaf-22	151	10	the	the	DET
gujaf-22	151	11	86	86	NUM
gujaf-22	151	12	announcing	announce	VERB
gujaf-22	151	13	firms	firm	NOUN
gujaf-22	151	14	and	and	CCONJ
gujaf-22	151	15	the	the	DET
gujaf-22	151	16	corresponding	correspond	VERB
gujaf-22	151	17	stock	stock	NOUN
gujaf-22	151	18	market	market	NOUN
gujaf-22	151	19	index	index	NOUN
gujaf-22	151	20	.	.	PUNCT
gujaf-22	152	1	values	value	NOUN
gujaf-22	152	2	.	.	PUNCT
gujaf-22	153	1	the	the	DET
gujaf-22	153	2	series	series	NOUN
gujaf-22	153	3	of	of	ADP
gujaf-22	153	4	stock	stock	NOUN
gujaf-22	153	5	prices	price	NOUN
gujaf-22	153	6	and	and	CCONJ
gujaf-22	153	7	corresponding	correspond	VERB
gujaf-22	153	8	market	market	NOUN
gujaf-22	153	9	indexes	index	NOUN
gujaf-22	153	10	were	be	AUX
gujaf-22	153	11	then	then	ADV
gujaf-22	153	12	converted	convert	VERB
gujaf-22	153	13	to	to	ADP
gujaf-22	153	14	continuously	continuously	ADV
gujaf-22	153	15	compounded	compound	VERB
gujaf-22	153	16	returns	return	NOUN
gujaf-22	153	17	using	use	VERB
gujaf-22	153	18	the	the	DET
gujaf-22	153	19	formula	formula	NOUN
gujaf-22	153	20	below	below	ADV
gujaf-22	153	21	:	:	PUNCT
gujaf-22	153	22			PROPN
gujaf-22	153	23			PROPN
gujaf-22	153	24			PROPN
gujaf-22	153	25			X
gujaf-22	153	26			NOUN
gujaf-22	153	27			NOUN
gujaf-22	153	28			VERB
gujaf-22	153	29			PROPN
gujaf-22	153	30			PROPN
gujaf-22	153	31			PROPN
gujaf-22	153	32			PROPN
gujaf-22	153	33			PROPN
gujaf-22	153	34	1	1	NUM
gujaf-22	153	35	,	,	PUNCT
gujaf-22	153	36	1	1	NUM
gujaf-22	153	37	,	,	PUNCT
gujaf-22	153	38	,	,	PUNCT
gujaf-22	153	39	,	,	PUNCT
gujaf-22	153	40	ln	ln	ADJ
gujaf-22	153	41	ti	ti	X
gujaf-22	153	42	titi	titi	INTJ
gujaf-22	153	43	ti	ti	PROPN
gujaf-22	153	44	v	v	NOUN
gujaf-22	153	45	vv	vv	ADP
gujaf-22	153	46	r	r	NOUN
gujaf-22	153	47	…	…	PUNCT
gujaf-22	153	48	..	..	PUNCT
gujaf-22	153	49	…	…	PUNCT
gujaf-22	153	50	…	…	PUNCT
gujaf-22	153	51	…	…	PUNCT
gujaf-22	153	52	…	…	PUNCT
gujaf-22	153	53	…	…	PUNCT
gujaf-22	153	54	…	…	PUNCT
gujaf-22	153	55	…	…	PUNCT
gujaf-22	153	56	…	…	PUNCT
gujaf-22	153	57	…	…	PUNCT
gujaf-22	153	58	…	…	PUNCT
gujaf-22	153	59	…	…	PUNCT
gujaf-22	153	60	…	…	PUNCT
gujaf-22	153	61	..	..	PUNCT
gujaf-22	153	62	…	…	PUNCT
gujaf-22	153	63	…	…	PUNCT
gujaf-22	153	64	…	…	PUNCT
gujaf-22	153	65	…	…	PUNCT
gujaf-22	153	66	…	…	PUNCT
gujaf-22	153	67	…	…	PUNCT
gujaf-22	153	68	(	(	PUNCT
gujaf-22	153	69	1	1	NUM
gujaf-22	153	70	)	)	PUNCT
gujaf-22	153	71	gujaf	gujaf	NOUN
gujaf-22	153	72	:	:	PUNCT
gujaf-22	153	73	gusau	gusau	PROPN
gujaf-22	153	74	journal	journal	NOUN
gujaf-22	153	75	of	of	ADP
gujaf-22	153	76	accounting	accounting	NOUN
gujaf-22	153	77	and	and	CCONJ
gujaf-22	153	78	finance	finance	NOUN
gujaf-22	153	79	,	,	PUNCT
gujaf-22	153	80	vol	vol	NOUN
gujaf-22	153	81	.	.	PUNCT
gujaf-22	154	1	i	i	PRON
gujaf-22	154	2	,	,	PUNCT
gujaf-22	154	3	issue	issue	NOUN
gujaf-22	154	4	1	1	NUM
gujaf-22	154	5	,	,	PUNCT
gujaf-22	154	6	april	april	PROPN
gujaf-22	154	7	,	,	PUNCT
gujaf-22	154	8	2020	2020	NUM
gujaf-22	154	9	issn	issn	VERB
gujaf-22	154	10	2756	2756	NUM
gujaf-22	154	11	-	-	PUNCT
gujaf-22	154	12	665x	665x	NOUN
gujaf-22	154	13	9	9	NUM
gujaf-22	154	14	where	where	SCONJ
gujaf-22	154	15	:	:	PUNCT
gujaf-22	154	16	ri	ri	PROPN
gujaf-22	154	17	,	,	PUNCT
gujaf-22	154	18	t	t	NOUN
gujaf-22	154	19	=	=	PUNCT
gujaf-22	154	20	return	return	NOUN
gujaf-22	154	21	on	on	ADP
gujaf-22	154	22	firm	firm	ADJ
gujaf-22	154	23	i	i	PRON
gujaf-22	154	24	at	at	ADP
gujaf-22	154	25	time	time	NOUN
gujaf-22	154	26	t	t	PROPN
gujaf-22	154	27	vi	vi	PROPN
gujaf-22	154	28	,	,	PUNCT
gujaf-22	154	29	t	t	NOUN
gujaf-22	154	30	=	=	SYM
gujaf-22	154	31	value	value	NOUN
gujaf-22	154	32	of	of	ADP
gujaf-22	154	33	firm	firm	NOUN
gujaf-22	154	34	i	i	PRON
gujaf-22	154	35	at	at	ADP
gujaf-22	154	36	time	time	NOUN
gujaf-22	154	37	t	t	PROPN
gujaf-22	154	38	vi	vi	PROPN
gujaf-22	154	39	,	,	PUNCT
gujaf-22	154	40	t-1	t-1	PROPN
gujaf-22	154	41	=	=	SYM
gujaf-22	154	42	value	value	NOUN
gujaf-22	154	43	of	of	ADP
gujaf-22	154	44	firm	firm	NOUN
gujaf-22	154	45	i	i	PRON
gujaf-22	154	46	at	at	ADP
gujaf-22	154	47	time	time	NOUN
gujaf-22	154	48	t-1	t-1	PROPN
gujaf-22	154	49	ln	ln	PROPN
gujaf-22	154	50	=	=	SYM
gujaf-22	154	51	natural	natural	ADJ
gujaf-22	154	52	logarithm	logarithm	NOUN
gujaf-22	154	53	being	being	NOUN
gujaf-22	154	54	time	time	NOUN
gujaf-22	154	55	series	series	NOUN
gujaf-22	154	56	in	in	ADP
gujaf-22	154	57	nature	nature	NOUN
gujaf-22	154	58	,	,	PUNCT
gujaf-22	154	59	the	the	DET
gujaf-22	154	60	stock	stock	NOUN
gujaf-22	154	61	and	and	CCONJ
gujaf-22	154	62	market	market	NOUN
gujaf-22	154	63	return	return	NOUN
gujaf-22	154	64	series	series	NOUN
gujaf-22	154	65	for	for	ADP
gujaf-22	154	66	the	the	DET
gujaf-22	154	67	86	86	NUM
gujaf-22	154	68	samples	sample	NOUN
gujaf-22	154	69	were	be	AUX
gujaf-22	154	70	tested	test	VERB
gujaf-22	154	71	for	for	ADP
gujaf-22	154	72	stationarity	stationarity	NOUN
gujaf-22	154	73	using	use	VERB
gujaf-22	154	74	the	the	DET
gujaf-22	154	75	augmented	augment	VERB
gujaf-22	154	76	dickey	dickey	NOUN
gujaf-22	154	77	-	-	PUNCT
gujaf-22	154	78	fuller	full	ADJ
gujaf-22	154	79	(	(	PUNCT
gujaf-22	154	80	adf	adf	NOUN
gujaf-22	154	81	)	)	PUNCT
gujaf-22	154	82	,	,	PUNCT
gujaf-22	154	83	phillipsperron	phillipsperron	NOUN
gujaf-22	154	84	(	(	PUNCT
gujaf-22	154	85	pp	pp	PROPN
gujaf-22	154	86	)	)	PUNCT
gujaf-22	154	87	and	and	CCONJ
gujaf-22	154	88	kwiatkowski	kwiatkowski	PROPN
gujaf-22	154	89	-	-	PUNCT
gujaf-22	154	90	phillips	phillip	NOUN
gujaf-22	154	91	-	-	PUNCT
gujaf-22	154	92	schmidt	schmidt	ADJ
gujaf-22	154	93	-	-	PUNCT
gujaf-22	154	94	shin	shin	NOUN
gujaf-22	154	95	(	(	PUNCT
gujaf-22	154	96	kpss	kpss	PROPN
gujaf-22	154	97	)	)	PUNCT
gujaf-22	154	98	tests	test	NOUN
gujaf-22	154	99	.	.	PUNCT
gujaf-22	155	1	in	in	ADP
gujaf-22	155	2	order	order	NOUN
gujaf-22	155	3	to	to	PART
gujaf-22	155	4	compute	compute	VERB
gujaf-22	155	5	the	the	DET
gujaf-22	155	6	abnormal	abnormal	ADJ
gujaf-22	155	7	return	return	NOUN
gujaf-22	155	8	and	and	CCONJ
gujaf-22	155	9	cumulative	cumulative	ADJ
gujaf-22	155	10	abnormal	abnormal	ADJ
gujaf-22	155	11	return	return	NOUN
gujaf-22	155	12	,	,	PUNCT
gujaf-22	155	13	estimate	estimate	VERB
gujaf-22	155	14	benchmark	benchmark	NOUN
gujaf-22	155	15	returns	return	NOUN
gujaf-22	155	16	for	for	ADP
gujaf-22	155	17	the	the	DET
gujaf-22	155	18	sample	sample	NOUN
gujaf-22	155	19	seo	seo	NOUN
gujaf-22	155	20	announcements	announcement	NOUN
gujaf-22	155	21	,	,	PUNCT
gujaf-22	155	22	the	the	DET
gujaf-22	155	23	market	market	NOUN
gujaf-22	155	24	model	model	NOUN
gujaf-22	155	25	was	be	AUX
gujaf-22	155	26	employed	employ	VERB
gujaf-22	155	27	as	as	ADP
gujaf-22	155	28	the	the	DET
gujaf-22	155	29	benchmark	benchmark	NOUN
gujaf-22	155	30	model	model	NOUN
gujaf-22	155	31	for	for	ADP
gujaf-22	155	32	return	return	NOUN
gujaf-22	155	33	estimation	estimation	NOUN
gujaf-22	155	34	.	.	PUNCT
gujaf-22	156	1	the	the	DET
gujaf-22	156	2	market	market	NOUN
gujaf-22	156	3	model	model	NOUN
gujaf-22	156	4	assumes	assume	VERB
gujaf-22	156	5	a	a	DET
gujaf-22	156	6	linear	linear	ADJ
gujaf-22	156	7	relationship	relationship	NOUN
gujaf-22	156	8	between	between	ADP
gujaf-22	156	9	return	return	NOUN
gujaf-22	156	10	of	of	ADP
gujaf-22	156	11	a	a	DET
gujaf-22	156	12	security	security	NOUN
gujaf-22	156	13	and	and	CCONJ
gujaf-22	156	14	the	the	DET
gujaf-22	156	15	return	return	NOUN
gujaf-22	156	16	on	on	ADP
gujaf-22	156	17	the	the	DET
gujaf-22	156	18	market	market	NOUN
gujaf-22	156	19	portfolio	portfolio	NOUN
gujaf-22	156	20	(	(	PUNCT
gujaf-22	156	21	fama	fama	PROPN
gujaf-22	156	22	et	et	PROPN
gujaf-22	156	23	al	al	PROPN
gujaf-22	156	24	.	.	PROPN
gujaf-22	156	25	,	,	PUNCT
gujaf-22	156	26	1969	1969	NUM
gujaf-22	156	27	)	)	PUNCT
gujaf-22	156	28	.	.	PUNCT
gujaf-22	157	1	the	the	DET
gujaf-22	157	2	model	model	NOUN
gujaf-22	157	3	is	be	AUX
gujaf-22	157	4	stated	state	VERB
gujaf-22	157	5	as	as	SCONJ
gujaf-22	157	6	follows	follow	VERB
gujaf-22	157	7	:	:	PUNCT
gujaf-22	157	8	titmti	titmti	NOUN
gujaf-22	157	9	rr	rr	NOUN
gujaf-22	157	10	,	,	PUNCT
gujaf-22	157	11	,	,	PUNCT
gujaf-22	157	12	10	10	NUM
gujaf-22	157	13	,	,	PUNCT
gujaf-22	157	14			NOUN
gujaf-22	157	15			PROPN
gujaf-22	157	16	.............................................................................	.............................................................................	PUNCT
gujaf-22	158	1	(	(	PUNCT
gujaf-22	158	2	2	2	X
gujaf-22	158	3	)	)	PUNCT
gujaf-22	158	4	where	where	SCONJ
gujaf-22	158	5	ri	ri	PROPN
gujaf-22	158	6	,	,	PUNCT
gujaf-22	158	7	t	t	PROPN
gujaf-22	158	8	is	be	AUX
gujaf-22	158	9	the	the	DET
gujaf-22	158	10	actual	actual	ADJ
gujaf-22	158	11	return	return	NOUN
gujaf-22	158	12	on	on	ADP
gujaf-22	158	13	firm	firm	NOUN
gujaf-22	159	1	i	i	PRON
gujaf-22	159	2	’s	’	VERB
gujaf-22	159	3	stock	stock	NOUN
gujaf-22	159	4	at	at	ADP
gujaf-22	159	5	time	time	NOUN
gujaf-22	159	6	t	t	PROPN
gujaf-22	159	7	;	;	PUNCT
gujaf-22	159	8	α0	α0	PROPN
gujaf-22	159	9	and	and	CCONJ
gujaf-22	159	10	β1	β1	PROPN
gujaf-22	159	11	are	be	AUX
gujaf-22	159	12	parameters	parameter	NOUN
gujaf-22	159	13	to	to	PART
gujaf-22	159	14	be	be	AUX
gujaf-22	159	15	estimated	estimate	VERB
gujaf-22	159	16	;	;	PUNCT
gujaf-22	159	17	rm	rm	PROPN
gujaf-22	159	18	,	,	PUNCT
gujaf-22	159	19	t	t	PROPN
gujaf-22	159	20	is	be	AUX
gujaf-22	159	21	the	the	DET
gujaf-22	159	22	market	market	NOUN
gujaf-22	159	23	return	return	NOUN
gujaf-22	159	24	at	at	ADP
gujaf-22	159	25	time	time	NOUN
gujaf-22	159	26	t	t	NOUN
gujaf-22	159	27	;	;	PUNCT
gujaf-22	159	28	and	and	CCONJ
gujaf-22	159	29	εi	εi	VERB
gujaf-22	159	30	,	,	PUNCT
gujaf-22	159	31	t	t	PROPN
gujaf-22	159	32	is	be	AUX
gujaf-22	159	33	firm	firm	ADJ
gujaf-22	160	1	i	i	PRON
gujaf-22	160	2	’s	’	VERB
gujaf-22	160	3	random	random	ADJ
gujaf-22	160	4	disturbance	disturbance	NOUN
gujaf-22	160	5	term	term	NOUN
gujaf-22	160	6	at	at	ADP
gujaf-22	160	7	time	time	NOUN
gujaf-22	160	8	t.	t.	PROPN
gujaf-22	160	9	assuming	assume	VERB
gujaf-22	160	10	a	a	DET
gujaf-22	160	11	constant	constant	ADJ
gujaf-22	160	12	beta	beta	NOUN
gujaf-22	160	13	value	value	NOUN
gujaf-22	160	14	,	,	PUNCT
gujaf-22	160	15	the	the	DET
gujaf-22	160	16	estimated	estimate	VERB
gujaf-22	160	17	return	return	NOUN
gujaf-22	160	18	for	for	ADP
gujaf-22	160	19	firm	firm	NOUN
gujaf-22	160	20	i	i	PRON
gujaf-22	160	21	’s	’s	NOUN
gujaf-22	160	22	stock	stock	NOUN
gujaf-22	160	23	can	can	AUX
gujaf-22	160	24	be	be	AUX
gujaf-22	160	25	computed	compute	VERB
gujaf-22	160	26	by	by	ADP
gujaf-22	160	27	substituting	substitute	VERB
gujaf-22	160	28	the	the	DET
gujaf-22	160	29	estimated	estimate	VERB
gujaf-22	160	30	values	value	NOUN
gujaf-22	160	31	of	of	ADP
gujaf-22	160	32	α0	α0	PROPN
gujaf-22	160	33	and	and	CCONJ
gujaf-22	160	34	β1	β1	PROPN
gujaf-22	160	35	over	over	ADP
gujaf-22	160	36	the	the	DET
gujaf-22	160	37	estimation	estimation	NOUN
gujaf-22	160	38	window	window	NOUN
gujaf-22	160	39	in	in	ADP
gujaf-22	160	40	equation	equation	NOUN
gujaf-22	160	41	(	(	PUNCT
gujaf-22	160	42	5	5	NUM
gujaf-22	160	43	)	)	PUNCT
gujaf-22	160	44	above	above	ADV
gujaf-22	160	45	as	as	SCONJ
gujaf-22	160	46	follows	follow	VERB
gujaf-22	160	47	:	:	PUNCT
gujaf-22	160	48	tmti	tmti	PROPN
gujaf-22	160	49	rr	rr	PROPN
gujaf-22	160	50	,	,	PUNCT
gujaf-22	160	51	10	10	NUM
gujaf-22	160	52	,	,	PUNCT
gujaf-22	160	53	ˆˆ	ˆˆ	PROPN
gujaf-22	160	54			X
gujaf-22	160	55			ADJ
gujaf-22	160	56	....................................................................................	....................................................................................	PUNCT
gujaf-22	161	1	(	(	PUNCT
gujaf-22	161	2	3	3	X
gujaf-22	161	3	)	)	PUNCT
gujaf-22	161	4	where	where	SCONJ
gujaf-22	161	5	tir	tir	NOUN
gujaf-22	161	6	,	,	PUNCT
gujaf-22	161	7	is	be	AUX
gujaf-22	161	8	the	the	DET
gujaf-22	161	9	expected	expect	VERB
gujaf-22	161	10	return	return	NOUN
gujaf-22	161	11	on	on	ADP
gujaf-22	161	12	firm	firm	NOUN
gujaf-22	162	1	i	i	PRON
gujaf-22	162	2	’s	’	VERB
gujaf-22	162	3	stock	stock	NOUN
gujaf-22	162	4	at	at	ADP
gujaf-22	162	5	time	time	NOUN
gujaf-22	162	6	t	t	PROPN
gujaf-22	162	7	;	;	PUNCT
gujaf-22	162	8	0̂	0̂	NUM
gujaf-22	162	9	and	and	CCONJ
gujaf-22	162	10	1̂	1̂	NUM
gujaf-22	162	11	are	be	AUX
gujaf-22	162	12	the	the	DET
gujaf-22	162	13	estimated	estimate	VERB
gujaf-22	162	14	parameters	parameter	NOUN
gujaf-22	162	15	based	base	VERB
gujaf-22	162	16	on	on	ADP
gujaf-22	162	17	the	the	DET
gujaf-22	162	18	estimation	estimation	NOUN
gujaf-22	162	19	window	window	NOUN
gujaf-22	162	20	;	;	PUNCT
gujaf-22	162	21	and	and	CCONJ
gujaf-22	162	22	rm	rm	PROPN
gujaf-22	162	23	,	,	PUNCT
gujaf-22	162	24	t	t	PROPN
gujaf-22	162	25	is	be	AUX
gujaf-22	162	26	the	the	DET
gujaf-22	162	27	market	market	NOUN
gujaf-22	162	28	return	return	NOUN
gujaf-22	162	29	at	at	ADP
gujaf-22	162	30	time	time	NOUN
gujaf-22	162	31	t.	t.	NOUN
gujaf-22	162	32	the	the	DET
gujaf-22	162	33	abnormal	abnormal	ADJ
gujaf-22	162	34	return	return	NOUN
gujaf-22	162	35	is	be	AUX
gujaf-22	162	36	defined	define	VERB
gujaf-22	162	37	as	as	ADP
gujaf-22	162	38	the	the	DET
gujaf-22	162	39	difference	difference	NOUN
gujaf-22	162	40	between	between	ADP
gujaf-22	162	41	equation	equation	NOUN
gujaf-22	162	42	(	(	PUNCT
gujaf-22	162	43	2	2	NUM
gujaf-22	162	44	)	)	PUNCT
gujaf-22	162	45	and	and	CCONJ
gujaf-22	162	46	equation	equation	NOUN
gujaf-22	162	47	(	(	PUNCT
gujaf-22	162	48	3	3	NUM
gujaf-22	162	49	)	)	PUNCT
gujaf-22	162	50	as	as	SCONJ
gujaf-22	162	51	follows	follow	VERB
gujaf-22	162	52	:	:	PUNCT
gujaf-22	162	53	titi	titi	ADJ
gujaf-22	162	54	rrar	rrar	NOUN
gujaf-22	162	55	,	,	PUNCT
gujaf-22	162	56	,	,	PUNCT
gujaf-22	162	57			PROPN
gujaf-22	162	58	.......................................................................................	.......................................................................................	PUNCT
gujaf-22	163	1	(	(	PUNCT
gujaf-22	163	2	4	4	X
gujaf-22	163	3	)	)	PUNCT
gujaf-22	163	4	once	once	SCONJ
gujaf-22	163	5	the	the	DET
gujaf-22	163	6	estimated	estimate	VERB
gujaf-22	163	7	equation	equation	NOUN
gujaf-22	163	8	has	have	AUX
gujaf-22	163	9	been	be	AUX
gujaf-22	163	10	obtained	obtain	VERB
gujaf-22	163	11	,	,	PUNCT
gujaf-22	163	12	the	the	DET
gujaf-22	163	13	actual	actual	ADJ
gujaf-22	163	14	return	return	NOUN
gujaf-22	163	15	on	on	ADP
gujaf-22	163	16	firm	firm	NOUN
gujaf-22	164	1	i	i	PRON
gujaf-22	164	2	’s	’s	NOUN
gujaf-22	164	3	stock	stock	NOUN
gujaf-22	164	4	is	be	AUX
gujaf-22	164	5	calculated	calculate	VERB
gujaf-22	164	6	as	as	SCONJ
gujaf-22	164	7	follows	follow	VERB
gujaf-22	164	8	:	:	PUNCT
gujaf-22	164	9	titmti	titmti	NOUN
gujaf-22	164	10	rr	rr	NOUN
gujaf-22	164	11	,	,	PUNCT
gujaf-22	164	12	,	,	PUNCT
gujaf-22	164	13	10	10	NUM
gujaf-22	164	14	,	,	PUNCT
gujaf-22	164	15	ˆˆ	ˆˆ	PROPN
gujaf-22	164	16			PROPN
gujaf-22	164	17			PROPN
gujaf-22	164	18	..........................................................................	..........................................................................	PUNCT
gujaf-22	165	1	(	(	PUNCT
gujaf-22	165	2	5	5	X
gujaf-22	165	3	)	)	PUNCT
gujaf-22	165	4	gujaf	gujaf	NOUN
gujaf-22	165	5	:	:	PUNCT
gujaf-22	165	6	gusau	gusau	PROPN
gujaf-22	165	7	journal	journal	NOUN
gujaf-22	165	8	of	of	ADP
gujaf-22	165	9	accounting	accounting	NOUN
gujaf-22	165	10	and	and	CCONJ
gujaf-22	165	11	finance	finance	NOUN
gujaf-22	165	12	,	,	PUNCT
gujaf-22	165	13	vol	vol	NOUN
gujaf-22	165	14	.	.	PUNCT
gujaf-22	166	1	i	i	PRON
gujaf-22	166	2	,	,	PUNCT
gujaf-22	166	3	issue	issue	NOUN
gujaf-22	166	4	1	1	NUM
gujaf-22	166	5	,	,	PUNCT
gujaf-22	166	6	april	april	PROPN
gujaf-22	166	7	,	,	PUNCT
gujaf-22	166	8	2020	2020	NUM
gujaf-22	166	9	issn	issn	VERB
gujaf-22	166	10	2756	2756	NUM
gujaf-22	166	11	-	-	PUNCT
gujaf-22	166	12	665x	665x	NOUN
gujaf-22	166	13	10	10	NUM
gujaf-22	166	14	since	since	SCONJ
gujaf-22	166	15	tmti	tmti	PROPN
gujaf-22	166	16	rr	rr	PROPN
gujaf-22	166	17	,	,	PUNCT
gujaf-22	166	18	10	10	NUM
gujaf-22	166	19	,	,	PUNCT
gujaf-22	166	20	ˆˆ	ˆˆ	PROPN
gujaf-22	166	21			X
gujaf-22	166	22			ADJ
gujaf-22	166	23	equation	equation	NOUN
gujaf-22	166	24	(	(	PUNCT
gujaf-22	166	25	5	5	X
gujaf-22	166	26	)	)	PUNCT
gujaf-22	166	27	simplifies	simplifie	NOUN
gujaf-22	166	28	to	to	PART
gujaf-22	166	29	:	:	PUNCT
gujaf-22	166	30	titmti	titmti	PROPN
gujaf-22	166	31	rr	rr	NOUN
gujaf-22	166	32	,	,	PUNCT
gujaf-22	166	33	,	,	PUNCT
gujaf-22	166	34	,	,	PUNCT
gujaf-22	166	35			NUM
gujaf-22	166	36	......................................................................................	......................................................................................	PUNCT
gujaf-22	167	1	(	(	PUNCT
gujaf-22	167	2	6	6	X
gujaf-22	167	3	)	)	PUNCT
gujaf-22	167	4	this	this	PRON
gujaf-22	167	5	implies	imply	VERB
gujaf-22	167	6	that	that	SCONJ
gujaf-22	167	7	abnormal	abnormal	ADJ
gujaf-22	167	8	return	return	NOUN
gujaf-22	167	9	for	for	ADP
gujaf-22	167	10	firm	firm	ADJ
gujaf-22	167	11	i	i	PRON
gujaf-22	167	12	at	at	ADP
gujaf-22	167	13	time	time	NOUN
gujaf-22	167	14	t	t	PROPN
gujaf-22	167	15	is	be	AUX
gujaf-22	167	16	simply	simply	ADV
gujaf-22	167	17	given	give	VERB
gujaf-22	167	18	as	as	ADP
gujaf-22	167	19	:	:	PUNCT
gujaf-22	167	20	titi	titi	PROPN
gujaf-22	167	21	=	=	PROPN
gujaf-22	167	22	ar	ar	PROPN
gujaf-22	167	23	,	,	PUNCT
gujaf-22	167	24	,	,	PUNCT
gujaf-22	167	25			PROPN
gujaf-22	167	26	..............................................................................................	..............................................................................................	PUNCT
gujaf-22	168	1	(	(	PUNCT
gujaf-22	168	2	7	7	X
gujaf-22	168	3	)	)	PUNCT
gujaf-22	168	4	given	give	VERB
gujaf-22	168	5	that	that	SCONJ
gujaf-22	168	6	the	the	DET
gujaf-22	168	7	market	market	NOUN
gujaf-22	168	8	model	model	NOUN
gujaf-22	168	9	was	be	AUX
gujaf-22	168	10	estimated	estimate	VERB
gujaf-22	168	11	using	use	VERB
gujaf-22	168	12	ols	ol	NOUN
gujaf-22	168	13	,	,	PUNCT
gujaf-22	168	14	the	the	DET
gujaf-22	168	15	residuals	residual	NOUN
gujaf-22	168	16	were	be	AUX
gujaf-22	168	17	examined	examine	VERB
gujaf-22	168	18	for	for	ADP
gujaf-22	168	19	auto	auto	NOUN
gujaf-22	168	20	-	-	PUNCT
gujaf-22	168	21	correlation	correlation	NOUN
gujaf-22	168	22	,	,	PUNCT
gujaf-22	168	23	heteroskedasticity	heteroskedasticity	NOUN
gujaf-22	168	24	and	and	CCONJ
gujaf-22	168	25	normality	normality	NOUN
gujaf-22	168	26	using	use	VERB
gujaf-22	168	27	breusch	breusch	ADJ
gujaf-22	168	28	-	-	PUNCT
gujaf-22	168	29	godfrey	godfrey	NOUN
gujaf-22	168	30	tests	test	NOUN
gujaf-22	168	31	,	,	PUNCT
gujaf-22	168	32	engle	engle	NOUN
gujaf-22	168	33	test	test	NOUN
gujaf-22	168	34	,	,	PUNCT
gujaf-22	168	35	white	white	ADJ
gujaf-22	168	36	test	test	NOUN
gujaf-22	168	37	and	and	CCONJ
gujaf-22	168	38	jarque	jarque	NOUN
gujaf-22	168	39	-	-	PUNCT
gujaf-22	168	40	bera	bera	NOUN
gujaf-22	168	41	test	test	NOUN
gujaf-22	168	42	.	.	PUNCT
gujaf-22	169	1	in	in	ADP
gujaf-22	169	2	the	the	DET
gujaf-22	169	3	event	event	NOUN
gujaf-22	169	4	that	that	PRON
gujaf-22	169	5	significant	significant	ADJ
gujaf-22	169	6	volatility	volatility	NOUN
gujaf-22	169	7	was	be	AUX
gujaf-22	169	8	observed	observe	VERB
gujaf-22	169	9	in	in	ADP
gujaf-22	169	10	the	the	DET
gujaf-22	169	11	residuals	residual	NOUN
gujaf-22	169	12	,	,	PUNCT
gujaf-22	169	13	the	the	DET
gujaf-22	169	14	ols	ol	NOUN
gujaf-22	169	15	model	model	NOUN
gujaf-22	169	16	was	be	AUX
gujaf-22	169	17	replaced	replace	VERB
gujaf-22	169	18	with	with	ADP
gujaf-22	169	19	arch	arch	ADJ
gujaf-22	169	20	/	/	SYM
gujaf-22	169	21	garch	garch	NOUN
gujaf-22	169	22	specification	specification	NOUN
gujaf-22	169	23	according	accord	VERB
gujaf-22	169	24	to	to	ADP
gujaf-22	169	25	their	their	PRON
gujaf-22	169	26	best	good	ADJ
gujaf-22	169	27	fits	fit	NOUN
gujaf-22	169	28	so	so	SCONJ
gujaf-22	169	29	as	as	SCONJ
gujaf-22	169	30	to	to	PART
gujaf-22	169	31	appropriately	appropriately	ADV
gujaf-22	169	32	capture	capture	VERB
gujaf-22	169	33	volatility	volatility	NOUN
gujaf-22	169	34	.	.	PUNCT
gujaf-22	170	1	the	the	DET
gujaf-22	170	2	model	model	NOUN
gujaf-22	170	3	can	can	AUX
gujaf-22	170	4	be	be	AUX
gujaf-22	170	5	specified	specify	VERB
gujaf-22	170	6	as	as	SCONJ
gujaf-22	170	7	follows	follow	VERB
gujaf-22	170	8	:	:	PUNCT
gujaf-22	170	9	when	when	SCONJ
gujaf-22	170	10	a	a	DET
gujaf-22	170	11	garch	garch	NOUN
gujaf-22	170	12	(	(	PUNCT
gujaf-22	170	13	1,1	1,1	NUM
gujaf-22	170	14	)	)	PUNCT
gujaf-22	170	15	model	model	NOUN
gujaf-22	170	16	is	be	AUX
gujaf-22	170	17	considered	consider	VERB
gujaf-22	170	18	,	,	PUNCT
gujaf-22	170	19	equation	equation	NOUN
gujaf-22	170	20	(	(	PUNCT
gujaf-22	170	21	5	5	NUM
gujaf-22	170	22	)	)	PUNCT
gujaf-22	170	23	is	be	AUX
gujaf-22	170	24	replaced	replace	VERB
gujaf-22	170	25	with	with	ADP
gujaf-22	170	26	:	:	PUNCT
gujaf-22	170	27	2	2	NUM
gujaf-22	170	28	1,2	1,2	NUM
gujaf-22	170	29	2	2	NUM
gujaf-22	170	30	1,10	1,10	NUM
gujaf-22	170	31	2	2	NUM
gujaf-22	170	32	,	,	PUNCT
gujaf-22	170	33			NUM
gujaf-22	170	34			VERB
gujaf-22	170	35	tiitiiiti	tiitiiiti	VERB
gujaf-22	170	36	u	u	NOUN
gujaf-22	170	37			NOUN
gujaf-22	170	38	................................................................	................................................................	PUNCT
gujaf-22	171	1	(	(	PUNCT
gujaf-22	171	2	8)	8)	NUM
gujaf-22	171	3	equation	equation	NOUN
gujaf-22	171	4	(	(	PUNCT
gujaf-22	171	5	8)	8)	NUM
gujaf-22	171	6	becomes	become	VERB
gujaf-22	171	7	an	an	DET
gujaf-22	171	8	arch	arch	ADJ
gujaf-22	171	9	(	(	PUNCT
gujaf-22	171	10	1	1	NUM
gujaf-22	171	11	)	)	PUNCT
gujaf-22	171	12	process	process	NOUN
gujaf-22	171	13	if	if	SCONJ
gujaf-22	171	14	αi2	αi2	VERB
gujaf-22	171	15	=	=	NOUN
gujaf-22	171	16	0	0	X
gujaf-22	171	17	.	.	PUNCT
gujaf-22	172	1	the	the	DET
gujaf-22	172	2	cumulative	cumulative	ADJ
gujaf-22	172	3	abnormal	abnormal	ADJ
gujaf-22	172	4	return	return	NOUN
gujaf-22	172	5	of	of	ADP
gujaf-22	172	6	firm	firm	ADJ
gujaf-22	172	7	i	i	PRON
gujaf-22	172	8	in	in	ADP
gujaf-22	172	9	the	the	DET
gujaf-22	172	10	sample	sample	NOUN
gujaf-22	172	11	for	for	ADP
gujaf-22	172	12	a	a	DET
gujaf-22	172	13	given	give	VERB
gujaf-22	172	14	period	period	NOUN
gujaf-22	172	15	was	be	AUX
gujaf-22	172	16	obtained	obtain	VERB
gujaf-22	172	17	by	by	ADP
gujaf-22	172	18	summing	sum	VERB
gujaf-22	172	19	up	up	ADP
gujaf-22	172	20	the	the	DET
gujaf-22	172	21	abnormal	abnormal	ADJ
gujaf-22	172	22	return	return	NOUN
gujaf-22	172	23	in	in	ADP
gujaf-22	172	24	a	a	DET
gujaf-22	172	25	given	give	VERB
gujaf-22	172	26	period	period	NOUN
gujaf-22	172	27	.	.	PUNCT
gujaf-22	173	1	the	the	DET
gujaf-22	173	2	procedure	procedure	NOUN
gujaf-22	173	3	is	be	AUX
gujaf-22	173	4	demonstrated	demonstrate	VERB
gujaf-22	173	5	by	by	ADP
gujaf-22	173	6	the	the	DET
gujaf-22	173	7	following	follow	VERB
gujaf-22	173	8	formula	formula	NOUN
gujaf-22	173	9	(	(	PUNCT
gujaf-22	173	10	peterson	peterson	NOUN
gujaf-22	173	11	,	,	PUNCT
gujaf-22	173	12	1989	1989	NUM
gujaf-22	173	13	):	):	PUNCT
gujaf-22	173	14	cari	cari	PROPN
gujaf-22	173	15	(	(	PUNCT
gujaf-22	173	16	t0,t1	t0,t1	PROPN
gujaf-22	173	17	)	)	PUNCT
gujaf-22	174	1	=	=	VERB
gujaf-22	174	2			X
gujaf-22	175	1			NUM
gujaf-22	175	2	1	1	NUM
gujaf-22	175	3	0	0	NUM
gujaf-22	175	4	,	,	PUNCT
gujaf-22	175	5	t	t	PROPN
gujaf-22	175	6	tiar	tiar	NOUN
gujaf-22	176	1	=	=	AUX
gujaf-22	176	2			X
gujaf-22	176	3			NUM
gujaf-22	176	4	1	1	NUM
gujaf-22	176	5	0	0	NUM
gujaf-22	176	6	,	,	PUNCT
gujaf-22	176	7	t	t	PROPN
gujaf-22	176	8	ti	ti	NUM
gujaf-22	176	9	...............................................................	...............................................................	PUNCT
gujaf-22	176	10	(	(	PUNCT
gujaf-22	176	11	9	9	X
gujaf-22	176	12	)	)	PUNCT
gujaf-22	176	13	where	where	SCONJ
gujaf-22	176	14	cari	cari	PROPN
gujaf-22	176	15	(	(	PUNCT
gujaf-22	176	16	t0,t1	t0,t1	PROPN
gujaf-22	176	17	)	)	PUNCT
gujaf-22	176	18	is	be	AUX
gujaf-22	176	19	the	the	DET
gujaf-22	176	20	cumulative	cumulative	ADJ
gujaf-22	176	21	abnormal	abnormal	ADJ
gujaf-22	176	22	return	return	NOUN
gujaf-22	176	23	of	of	ADP
gujaf-22	176	24	firm	firm	ADJ
gujaf-22	176	25	i	i	PROPN
gujaf-22	176	26	from	from	ADP
gujaf-22	176	27	time	time	NOUN
gujaf-22	176	28	t0	t0	PROPN
gujaf-22	176	29	to	to	ADP
gujaf-22	176	30	t1	t1	PROPN
gujaf-22	176	31	;	;	PUNCT
gujaf-22	176	32	ari	ari	PROPN
gujaf-22	176	33	,	,	PUNCT
gujaf-22	176	34	t	t	PROPN
gujaf-22	176	35	is	be	AUX
gujaf-22	176	36	the	the	DET
gujaf-22	176	37	abnormal	abnormal	ADJ
gujaf-22	176	38	return	return	NOUN
gujaf-22	176	39	of	of	ADP
gujaf-22	176	40	firm	firm	NOUN
gujaf-22	176	41	i	i	PRON
gujaf-22	176	42	at	at	ADP
gujaf-22	176	43	time	time	NOUN
gujaf-22	176	44	t	t	PROPN
gujaf-22	176	45	;	;	PUNCT
gujaf-22	176	46	εi	εi	VERB
gujaf-22	176	47	,	,	PUNCT
gujaf-22	176	48	t	t	PROPN
gujaf-22	176	49	is	be	AUX
gujaf-22	176	50	the	the	DET
gujaf-22	176	51	residual	residual	ADJ
gujaf-22	176	52	of	of	ADP
gujaf-22	176	53	firm	firm	ADJ
gujaf-22	176	54	i	i	PRON
gujaf-22	176	55	at	at	ADP
gujaf-22	176	56	time	time	NOUN
gujaf-22	176	57	t.	t.	PROPN
gujaf-22	176	58	similarly	similarly	ADV
gujaf-22	176	59	,	,	PUNCT
gujaf-22	176	60	the	the	DET
gujaf-22	176	61	sample	sample	NOUN
gujaf-22	176	62	average	average	ADJ
gujaf-22	176	63	abnormal	abnormal	ADJ
gujaf-22	176	64	return	return	NOUN
gujaf-22	176	65	at	at	ADP
gujaf-22	176	66	time	time	NOUN
gujaf-22	176	67	t	t	PROPN
gujaf-22	176	68	is	be	AUX
gujaf-22	176	69	simply	simply	ADV
gujaf-22	176	70	the	the	DET
gujaf-22	176	71	arithmetic	arithmetic	ADJ
gujaf-22	176	72	mean	mean	NOUN
gujaf-22	176	73	of	of	ADP
gujaf-22	176	74	n	n	PRON
gujaf-22	176	75	number	number	NOUN
gujaf-22	176	76	of	of	ADP
gujaf-22	176	77	stocks	stock	NOUN
gujaf-22	176	78	,	,	PUNCT
gujaf-22	176	79	as	as	SCONJ
gujaf-22	176	80	shown	show	VERB
gujaf-22	176	81	below	below	ADV
gujaf-22	176	82	:	:	PUNCT
gujaf-22	176	83	aart	aart	PROPN
gujaf-22	176	84	=	=	PUNCT
gujaf-22	177	1			X
gujaf-22	178	1			NUM
gujaf-22	178	2	n	n	INTJ
gujaf-22	179	1	i	i	PRON
gujaf-22	179	2	tiar	tiar	VERB
gujaf-22	179	3	n	n	ADV
gujaf-22	179	4	1	1	NUM
gujaf-22	179	5	,	,	PUNCT
gujaf-22	179	6	1	1	NUM
gujaf-22	179	7	...............................................................................	...............................................................................	PUNCT
gujaf-22	179	8	(	(	PUNCT
gujaf-22	179	9	10	10	NUM
gujaf-22	179	10	)	)	PUNCT
gujaf-22	179	11	gujaf	gujaf	NOUN
gujaf-22	179	12	:	:	PUNCT
gujaf-22	179	13	gusau	gusau	PROPN
gujaf-22	179	14	journal	journal	NOUN
gujaf-22	179	15	of	of	ADP
gujaf-22	179	16	accounting	accounting	NOUN
gujaf-22	179	17	and	and	CCONJ
gujaf-22	179	18	finance	finance	NOUN
gujaf-22	179	19	,	,	PUNCT
gujaf-22	179	20	vol	vol	NOUN
gujaf-22	179	21	.	.	PUNCT
gujaf-22	180	1	i	i	PRON
gujaf-22	180	2	,	,	PUNCT
gujaf-22	180	3	issue	issue	NOUN
gujaf-22	180	4	1	1	NUM
gujaf-22	180	5	,	,	PUNCT
gujaf-22	180	6	april	april	PROPN
gujaf-22	180	7	,	,	PUNCT
gujaf-22	180	8	2020	2020	NUM
gujaf-22	180	9	issn	issn	VERB
gujaf-22	180	10	2756	2756	NUM
gujaf-22	180	11	-	-	PUNCT
gujaf-22	180	12	665x	665x	NOUN
gujaf-22	180	13	11	11	NUM
gujaf-22	180	14	where	where	SCONJ
gujaf-22	180	15	aart	aart	PROPN
gujaf-22	180	16	is	be	AUX
gujaf-22	180	17	the	the	DET
gujaf-22	180	18	sample	sample	NOUN
gujaf-22	180	19	average	average	ADJ
gujaf-22	180	20	abnormal	abnormal	ADJ
gujaf-22	180	21	return	return	NOUN
gujaf-22	180	22	at	at	ADP
gujaf-22	180	23	time	time	NOUN
gujaf-22	180	24	t	t	PROPN
gujaf-22	180	25	;	;	PUNCT
gujaf-22	180	26	n	n	X
gujaf-22	180	27	is	be	AUX
gujaf-22	180	28	the	the	DET
gujaf-22	180	29	number	number	NOUN
gujaf-22	180	30	of	of	ADP
gujaf-22	180	31	observations	observation	NOUN
gujaf-22	180	32	;	;	PUNCT
gujaf-22	180	33	and	and	CCONJ
gujaf-22	180	34	aari	aari	ADJ
gujaf-22	180	35	,	,	PUNCT
gujaf-22	180	36	t	t	PROPN
gujaf-22	180	37	is	be	AUX
gujaf-22	180	38	the	the	DET
gujaf-22	180	39	abnormal	abnormal	ADJ
gujaf-22	180	40	return	return	NOUN
gujaf-22	180	41	of	of	ADP
gujaf-22	180	42	firm	firm	NOUN
gujaf-22	180	43	i	i	PRON
gujaf-22	180	44	at	at	ADP
gujaf-22	180	45	time	time	NOUN
gujaf-22	180	46	t.	t.	PROPN
gujaf-22	180	47	as	as	ADP
gujaf-22	180	48	a	a	DET
gujaf-22	180	49	consequence	consequence	NOUN
gujaf-22	180	50	of	of	ADP
gujaf-22	180	51	the	the	DET
gujaf-22	180	52	foregoing	foregoing	NOUN
gujaf-22	180	53	,	,	PUNCT
gujaf-22	180	54	the	the	DET
gujaf-22	180	55	cumulative	cumulative	ADJ
gujaf-22	180	56	average	average	ADJ
gujaf-22	180	57	abnormal	abnormal	ADJ
gujaf-22	180	58	return	return	NOUN
gujaf-22	180	59	will	will	AUX
gujaf-22	180	60	be	be	AUX
gujaf-22	180	61	computed	compute	VERB
gujaf-22	180	62	as	as	SCONJ
gujaf-22	180	63	follows	follow	VERB
gujaf-22	180	64	:	:	PUNCT
gujaf-22	180	65	caar	caar	NOUN
gujaf-22	180	66	(	(	PUNCT
gujaf-22	180	67	t0,t1	t0,t1	PROPN
gujaf-22	180	68	)	)	PUNCT
gujaf-22	181	1	=	=	VERB
gujaf-22	181	2			X
gujaf-22	182	1			NUM
gujaf-22	182	2	1	1	NUM
gujaf-22	182	3	0	0	NUM
gujaf-22	182	4	t	t	NOUN
gujaf-22	182	5	taar	taar	NOUN
gujaf-22	182	6	.....................................................................	.....................................................................	PUNCT
gujaf-22	182	7	(	(	PUNCT
gujaf-22	182	8	11	11	NUM
gujaf-22	182	9	)	)	PUNCT
gujaf-22	182	10	where	where	SCONJ
gujaf-22	182	11	caar	caar	NOUN
gujaf-22	182	12	(	(	PUNCT
gujaf-22	182	13	t0,t1	t0,t1	PROPN
gujaf-22	182	14	)	)	PUNCT
gujaf-22	182	15	is	be	AUX
gujaf-22	182	16	the	the	DET
gujaf-22	182	17	sample	sample	NOUN
gujaf-22	182	18	cumulative	cumulative	ADJ
gujaf-22	182	19	average	average	ADJ
gujaf-22	182	20	abnormal	abnormal	ADJ
gujaf-22	182	21	return	return	NOUN
gujaf-22	182	22	from	from	ADP
gujaf-22	182	23	time	time	NOUN
gujaf-22	182	24	t0	t0	PROPN
gujaf-22	182	25	to	to	ADP
gujaf-22	182	26	t1	t1	VERB
gujaf-22	182	27	;	;	PUNCT
gujaf-22	182	28	and	and	CCONJ
gujaf-22	182	29	aart	aart	NOUN
gujaf-22	182	30	is	be	AUX
gujaf-22	182	31	the	the	DET
gujaf-22	182	32	sample	sample	NOUN
gujaf-22	182	33	average	average	ADJ
gujaf-22	182	34	abnormal	abnormal	ADJ
gujaf-22	182	35	return	return	NOUN
gujaf-22	182	36	at	at	ADP
gujaf-22	182	37	time	time	NOUN
gujaf-22	182	38	t.	t.	NOUN
gujaf-22	182	39	the	the	DET
gujaf-22	182	40	significance	significance	NOUN
gujaf-22	182	41	of	of	ADP
gujaf-22	182	42	abnormal	abnormal	ADJ
gujaf-22	182	43	return	return	NOUN
gujaf-22	182	44	and	and	CCONJ
gujaf-22	182	45	cumulative	cumulative	ADJ
gujaf-22	182	46	abnormal	abnormal	ADJ
gujaf-22	182	47	return	return	NOUN
gujaf-22	182	48	was	be	AUX
gujaf-22	182	49	tested	test	VERB
gujaf-22	182	50	using	use	VERB
gujaf-22	182	51	the	the	DET
gujaf-22	182	52	t	t	NOUN
gujaf-22	182	53	-	-	PUNCT
gujaf-22	182	54	test	test	NOUN
gujaf-22	182	55	for	for	ADP
gujaf-22	182	56	significance	significance	NOUN
gujaf-22	182	57	of	of	ADP
gujaf-22	182	58	abnormal	abnormal	ADJ
gujaf-22	182	59	return	return	NOUN
gujaf-22	182	60	.	.	PUNCT
gujaf-22	183	1	according	accord	VERB
gujaf-22	183	2	to	to	ADP
gujaf-22	183	3	brown	brown	PROPN
gujaf-22	183	4	and	and	CCONJ
gujaf-22	183	5	warner	warner	PROPN
gujaf-22	183	6	(	(	PUNCT
gujaf-22	183	7	1985	1985	NUM
gujaf-22	183	8	)	)	PUNCT
gujaf-22	183	9	and	and	CCONJ
gujaf-22	183	10	panayides	panayide	NOUN
gujaf-22	183	11	and	and	CCONJ
gujaf-22	183	12	gong	gong	NOUN
gujaf-22	183	13	(	(	PUNCT
gujaf-22	183	14	2002	2002	NUM
gujaf-22	183	15	)	)	PUNCT
gujaf-22	183	16	,	,	PUNCT
gujaf-22	183	17	the	the	DET
gujaf-22	183	18	test	test	NOUN
gujaf-22	183	19	statistic	statistic	NOUN
gujaf-22	183	20	is	be	AUX
gujaf-22	183	21	simply	simply	ADV
gujaf-22	183	22	the	the	DET
gujaf-22	183	23	ratio	ratio	NOUN
gujaf-22	183	24	of	of	ADP
gujaf-22	183	25	period	period	NOUN
gujaf-22	183	26	t0	t0	PROPN
gujaf-22	183	27	to	to	ADP
gujaf-22	183	28	period	period	NOUN
gujaf-22	183	29	t1	t1	NOUN
gujaf-22	183	30	car	car	NOUN
gujaf-22	183	31	to	to	ADP
gujaf-22	183	32	its	its	PRON
gujaf-22	183	33	estimated	estimate	VERB
gujaf-22	183	34	standard	standard	ADJ
gujaf-22	183	35	deviation	deviation	NOUN
gujaf-22	183	36	over	over	ADP
gujaf-22	183	37	the	the	DET
gujaf-22	183	38	estimation	estimation	NOUN
gujaf-22	183	39	window	window	NOUN
gujaf-22	183	40	as	as	SCONJ
gujaf-22	183	41	shown	show	VERB
gujaf-22	183	42	in	in	ADP
gujaf-22	183	43	the	the	DET
gujaf-22	183	44	equation	equation	NOUN
gujaf-22	183	45	below	below	ADP
gujaf-22	183	46	:	:	PUNCT
gujaf-22	183	47	t(car)=	t(car)=	NOUN
gujaf-22	183	48	car	car	NOUN
gujaf-22	183	49	(	(	PUNCT
gujaf-22	183	50	t0,t1)/	t0,t1)/	PROPN
gujaf-22	183	51			NOUN
gujaf-22	183	52			PROPN
gujaf-22	184	1	taars	taar	NOUN
gujaf-22	184	2	..........................................................	..........................................................	PUNCT
gujaf-22	184	3	(	(	PUNCT
gujaf-22	184	4	12	12	NUM
gujaf-22	184	5	)	)	PUNCT
gujaf-22	184	6	where	where	SCONJ
gujaf-22	184	7	t(car	t(car	PROPN
gujaf-22	184	8	)	)	PUNCT
gujaf-22	184	9	is	be	AUX
gujaf-22	184	10	the	the	DET
gujaf-22	184	11	test	test	NOUN
gujaf-22	184	12	statistic	statistic	NOUN
gujaf-22	184	13	for	for	ADP
gujaf-22	184	14	cumulative	cumulative	ADJ
gujaf-22	184	15	abnormal	abnormal	ADJ
gujaf-22	184	16	return	return	NOUN
gujaf-22	184	17	;	;	PUNCT
gujaf-22	184	18	car	car	NOUN
gujaf-22	184	19	(	(	PUNCT
gujaf-22	184	20	t0,t1	t0,t1	PROPN
gujaf-22	184	21	)	)	PUNCT
gujaf-22	184	22	is	be	AUX
gujaf-22	184	23	as	as	ADV
gujaf-22	184	24	defined	define	VERB
gujaf-22	184	25	above	above	ADV
gujaf-22	184	26	;	;	PUNCT
gujaf-22	184	27	s(aart	s(aart	PROPN
gujaf-22	184	28	)	)	PUNCT
gujaf-22	184	29	is	be	AUX
gujaf-22	184	30	the	the	DET
gujaf-22	184	31	standard	standard	ADJ
gujaf-22	184	32	deviation	deviation	NOUN
gujaf-22	184	33	of	of	ADP
gujaf-22	184	34	average	average	ADJ
gujaf-22	184	35	abnormal	abnormal	ADJ
gujaf-22	184	36	return	return	NOUN
gujaf-22	184	37	over	over	ADP
gujaf-22	184	38	the	the	DET
gujaf-22	184	39	parameter	parameter	NOUN
gujaf-22	184	40	estimation	estimation	NOUN
gujaf-22	184	41	window	window	NOUN
gujaf-22	184	42	.	.	PUNCT
gujaf-22	185	1	in	in	ADP
gujaf-22	185	2	order	order	NOUN
gujaf-22	185	3	to	to	PART
gujaf-22	185	4	test	test	VERB
gujaf-22	185	5	for	for	ADP
gujaf-22	185	6	the	the	DET
gujaf-22	185	7	effect	effect	NOUN
gujaf-22	185	8	of	of	ADP
gujaf-22	185	9	automation	automation	NOUN
gujaf-22	185	10	on	on	ADP
gujaf-22	185	11	the	the	DET
gujaf-22	185	12	reaction	reaction	NOUN
gujaf-22	185	13	of	of	ADP
gujaf-22	185	14	the	the	DET
gujaf-22	185	15	market	market	NOUN
gujaf-22	185	16	to	to	ADP
gujaf-22	185	17	seo	seo	NOUN
gujaf-22	185	18	announcements	announcement	NOUN
gujaf-22	185	19	,	,	PUNCT
gujaf-22	185	20	a	a	DET
gujaf-22	185	21	test	test	NOUN
gujaf-22	185	22	for	for	ADP
gujaf-22	185	23	the	the	DET
gujaf-22	185	24	difference	difference	NOUN
gujaf-22	185	25	in	in	ADP
gujaf-22	185	26	means	mean	NOUN
gujaf-22	185	27	between	between	ADP
gujaf-22	185	28	mean	mean	PROPN
gujaf-22	185	29	abnormal	abnormal	ADJ
gujaf-22	185	30	return	return	NOUN
gujaf-22	185	31	for	for	ADP
gujaf-22	185	32	the	the	DET
gujaf-22	185	33	pre	pre	ADJ
gujaf-22	185	34	-	-	NOUN
gujaf-22	185	35	automation	automation	ADJ
gujaf-22	185	36	period	period	NOUN
gujaf-22	185	37	and	and	CCONJ
gujaf-22	185	38	the	the	DET
gujaf-22	185	39	post	post	ADJ
gujaf-22	185	40	-	-	ADJ
gujaf-22	185	41	automation	automation	ADJ
gujaf-22	185	42	period	period	NOUN
gujaf-22	185	43	was	be	AUX
gujaf-22	185	44	conducted	conduct	VERB
gujaf-22	185	45	using	use	VERB
gujaf-22	185	46	the	the	DET
gujaf-22	185	47	following	follow	VERB
gujaf-22	185	48	formula	formula	NOUN
gujaf-22	185	49	(	(	PUNCT
gujaf-22	185	50	angelovska	angelovska	ADJ
gujaf-22	185	51	,	,	PUNCT
gujaf-22	185	52	2011	2011	NUM
gujaf-22	185	53	)	)	PUNCT
gujaf-22	185	54	.	.	PUNCT
gujaf-22	186	1	postpre	postpre	PROPN
gujaf-22	186	2	prepost	prepost	NOUN
gujaf-22	186	3	marmar	marmar	PROPN
gujaf-22	186	4	t	t	PROPN
gujaf-22	186	5			PROPN
gujaf-22	186	6			PROPN
gujaf-22	186	7			PRON
gujaf-22	186	8			X
gujaf-22	186	9	…	…	PUNCT
gujaf-22	186	10	…	…	PUNCT
gujaf-22	186	11	…	…	PUNCT
gujaf-22	186	12	…	…	PUNCT
gujaf-22	186	13	…	…	PUNCT
gujaf-22	186	14	…	…	PUNCT
gujaf-22	186	15	…	…	PUNCT
gujaf-22	186	16	…	…	PUNCT
gujaf-22	186	17	……	……	NOUN
gujaf-22	186	18	……	……	NOUN
gujaf-22	186	19	……	……	NOUN
gujaf-22	186	20	……	……	NOUN
gujaf-22	186	21	.	.	PUNCT
gujaf-22	187	1	……	……	NOUN
gujaf-22	187	2	.	.	PUNCT
gujaf-22	188	1	(	(	PUNCT
gujaf-22	188	2	13	13	NUM
gujaf-22	188	3	)	)	PUNCT
gujaf-22	188	4	where	where	SCONJ
gujaf-22	188	5	marpost	marpost	NOUN
gujaf-22	188	6	is	be	AUX
gujaf-22	188	7	the	the	DET
gujaf-22	188	8	mean	mean	ADJ
gujaf-22	188	9	abnormal	abnormal	ADJ
gujaf-22	188	10	return	return	NOUN
gujaf-22	188	11	for	for	ADP
gujaf-22	188	12	the	the	DET
gujaf-22	188	13	post	post	ADJ
gujaf-22	188	14	-	-	ADJ
gujaf-22	188	15	automation	automation	ADJ
gujaf-22	188	16	period	period	NOUN
gujaf-22	188	17	,	,	PUNCT
gujaf-22	188	18	marpre	marpre	VERB
gujaf-22	188	19	is	be	AUX
gujaf-22	188	20	the	the	DET
gujaf-22	188	21	mean	mean	ADJ
gujaf-22	188	22	abnormal	abnormal	ADJ
gujaf-22	188	23	return	return	NOUN
gujaf-22	188	24	for	for	ADP
gujaf-22	188	25	the	the	DET
gujaf-22	188	26	pre	pre	ADJ
gujaf-22	188	27	-	-	NOUN
gujaf-22	188	28	automation	automation	ADJ
gujaf-22	188	29	period	period	NOUN
gujaf-22	188	30	,	,	PUNCT
gujaf-22	188	31	and	and	CCONJ
gujaf-22	188	32	postpre	postpre	PROPN
gujaf-22	188	33	is	be	AUX
gujaf-22	188	34	a	a	DET
gujaf-22	188	35	pooled	pooled	ADJ
gujaf-22	188	36	standard	standard	ADJ
gujaf-22	188	37	error	error	NOUN
gujaf-22	188	38	of	of	ADP
gujaf-22	188	39	the	the	DET
gujaf-22	188	40	difference	difference	NOUN
gujaf-22	188	41	between	between	ADP
gujaf-22	188	42	the	the	DET
gujaf-22	188	43	pre	pre	NOUN
gujaf-22	188	44	-	-	NOUN
gujaf-22	188	45	automation	automation	NOUN
gujaf-22	188	46	and	and	CCONJ
gujaf-22	188	47	post	post	ADJ
gujaf-22	188	48	-	-	ADJ
gujaf-22	188	49	automation	automation	ADJ
gujaf-22	188	50	periods	period	NOUN
gujaf-22	188	51	abnormal	abnormal	ADJ
gujaf-22	188	52	return	return	NOUN
gujaf-22	188	53	.	.	PUNCT
gujaf-22	189	1	the	the	DET
gujaf-22	189	2	event	event	NOUN
gujaf-22	189	3	window	window	NOUN
gujaf-22	189	4	mean	mean	VERB
gujaf-22	189	5	abnormal	abnormal	ADJ
gujaf-22	189	6	return	return	NOUN
gujaf-22	189	7	for	for	ADP
gujaf-22	189	8	the	the	DET
gujaf-22	189	9	preautomation	preautomation	NOUN
gujaf-22	189	10	and	and	CCONJ
gujaf-22	189	11	post	post	NOUN
gujaf-22	189	12	automation	automation	NOUN
gujaf-22	189	13	periods	period	NOUN
gujaf-22	189	14	were	be	AUX
gujaf-22	189	15	computed	compute	VERB
gujaf-22	189	16	using	use	VERB
gujaf-22	189	17	the	the	DET
gujaf-22	189	18	formula	formula	NOUN
gujaf-22	189	19	below	below	ADP
gujaf-22	189	20	:	:	PUNCT
gujaf-22	189	21	gujaf	gujaf	NOUN
gujaf-22	189	22	:	:	PUNCT
gujaf-22	189	23	gusau	gusau	PROPN
gujaf-22	189	24	journal	journal	NOUN
gujaf-22	189	25	of	of	ADP
gujaf-22	189	26	accounting	accounting	NOUN
gujaf-22	189	27	and	and	CCONJ
gujaf-22	189	28	finance	finance	NOUN
gujaf-22	189	29	,	,	PUNCT
gujaf-22	189	30	vol	vol	NOUN
gujaf-22	189	31	.	.	PUNCT
gujaf-22	190	1	i	i	PRON
gujaf-22	190	2	,	,	PUNCT
gujaf-22	190	3	issue	issue	NOUN
gujaf-22	190	4	1	1	NUM
gujaf-22	190	5	,	,	PUNCT
gujaf-22	190	6	april	april	PROPN
gujaf-22	190	7	,	,	PUNCT
gujaf-22	190	8	2020	2020	NUM
gujaf-22	190	9	issn	issn	VERB
gujaf-22	190	10	2756	2756	NUM
gujaf-22	190	11	-	-	PUNCT
gujaf-22	190	12	665x	665x	NOUN
gujaf-22	190	13	12	12	NUM
gujaf-22	190	14	n	n	NOUN
gujaf-22	190	15	ar	ar	PROPN
gujaf-22	190	16	mar	mar	PROPN
gujaf-22	190	17	n	n	PROPN
gujaf-22	190	18	t	t	PROPN
gujaf-22	190	19			X
gujaf-22	190	20			NUM
gujaf-22	190	21	1	1	NUM
gujaf-22	190	22	…	…	SYM
gujaf-22	190	23	…	…	PUNCT
gujaf-22	190	24	…	…	PUNCT
gujaf-22	190	25	…	…	PUNCT
gujaf-22	190	26	…	…	PUNCT
gujaf-22	190	27	…	…	PUNCT
gujaf-22	190	28	…	…	PUNCT
gujaf-22	190	29	……	……	NOUN
gujaf-22	190	30	……	……	NOUN
gujaf-22	190	31	……	……	NOUN
gujaf-22	190	32	……	……	NOUN
gujaf-22	190	33	……	……	NOUN
gujaf-22	190	34	……	……	NOUN
gujaf-22	190	35	……	……	NOUN
gujaf-22	190	36	(	(	PUNCT
gujaf-22	190	37	14	14	NUM
gujaf-22	190	38	)	)	PUNCT
gujaf-22	190	39	where	where	SCONJ
gujaf-22	190	40	mar	mar	PROPN
gujaf-22	190	41	is	be	AUX
gujaf-22	190	42	mean	mean	ADJ
gujaf-22	190	43	abnormal	abnormal	ADJ
gujaf-22	190	44	return	return	NOUN
gujaf-22	190	45	and	and	CCONJ
gujaf-22	190	46	n	n	NOUN
gujaf-22	190	47	is	be	AUX
gujaf-22	190	48	the	the	DET
gujaf-22	190	49	number	number	NOUN
gujaf-22	190	50	of	of	ADP
gujaf-22	190	51	days	day	NOUN
gujaf-22	190	52	within	within	ADP
gujaf-22	190	53	the	the	DET
gujaf-22	190	54	event	event	NOUN
gujaf-22	190	55	window	window	NOUN
gujaf-22	190	56	.	.	PUNCT
gujaf-22	191	1	the	the	DET
gujaf-22	191	2	pooled	pool	VERB
gujaf-22	191	3	standard	standard	ADJ
gujaf-22	191	4	error	error	NOUN
gujaf-22	191	5	of	of	ADP
gujaf-22	191	6	the	the	DET
gujaf-22	191	7	difference	difference	NOUN
gujaf-22	191	8	between	between	ADP
gujaf-22	191	9	the	the	DET
gujaf-22	191	10	two	two	NUM
gujaf-22	191	11	samples	sample	NOUN
gujaf-22	191	12	of	of	ADP
gujaf-22	191	13	seo	seo	NOUN
gujaf-22	191	14	announcements	announcement	NOUN
gujaf-22	191	15	was	be	AUX
gujaf-22	191	16	calculated	calculate	VERB
gujaf-22	191	17	as	as	SCONJ
gujaf-22	191	18	follows	follow	VERB
gujaf-22	191	19	:	:	PUNCT
gujaf-22	191	20			NOUN
gujaf-22	191	21			SYM
gujaf-22	191	22			NOUN
gujaf-22	191	23			PUNCT
gujaf-22	191	24			NOUN
gujaf-22	191	25			NOUN
gujaf-22	192	1			PROPN
gujaf-22	192	2			PROPN
gujaf-22	192	3			PROPN
gujaf-22	192	4			NOUN
gujaf-22	192	5			ADP
gujaf-22	192	6			PROPN
gujaf-22	192	7			NOUN
gujaf-22	192	8			PROPN
gujaf-22	192	9			PROPN
gujaf-22	192	10			PROPN
gujaf-22	193	1			PROPN
gujaf-22	193	2			NOUN
gujaf-22	193	3			PROPN
gujaf-22	193	4			NOUN
gujaf-22	193	5			NOUN
gujaf-22	193	6	2121	2121	NUM
gujaf-22	193	7	2	2	NUM
gujaf-22	193	8	2	2	NUM
gujaf-22	193	9	21	21	NUM
gujaf-22	193	10	2	2	NUM
gujaf-22	193	11	1	1	NUM
gujaf-22	193	12	11	11	NUM
gujaf-22	193	13	2	2	NUM
gujaf-22	193	14	11	11	NUM
gujaf-22	193	15	nnnn	nnnn	PROPN
gujaf-22	193	16	nn	nn	PROPN
gujaf-22	193	17	postpre	postpre	PROPN
gujaf-22	193	18			X
gujaf-22	193	19			X
gujaf-22	193	20	…	…	PUNCT
gujaf-22	193	21	…	…	PUNCT
gujaf-22	193	22	…	…	PUNCT
gujaf-22	193	23	…	…	PUNCT
gujaf-22	193	24	…	…	PUNCT
gujaf-22	193	25	…	…	PUNCT
gujaf-22	193	26	…	…	PUNCT
gujaf-22	193	27	...	...	PUNCT
gujaf-22	193	28	(	(	PUNCT
gujaf-22	193	29	15	15	NUM
gujaf-22	193	30	)	)	PUNCT
gujaf-22	193	31	where	where	SCONJ
gujaf-22	193	32	1	1	NUM
gujaf-22	193	33	2	2	NUM
gujaf-22	193	34	is	be	AUX
gujaf-22	193	35	the	the	DET
gujaf-22	193	36	variance	variance	NOUN
gujaf-22	193	37	of	of	ADP
gujaf-22	193	38	pre	pre	ADJ
gujaf-22	193	39	-	-	ADJ
gujaf-22	193	40	automation	automation	ADJ
gujaf-22	193	41	abnormal	abnormal	ADJ
gujaf-22	193	42	return	return	NOUN
gujaf-22	193	43	,	,	PUNCT
gujaf-22	193	44	2	2	NUM
gujaf-22	193	45	2	2	NUM
gujaf-22	193	46	is	be	AUX
gujaf-22	193	47	the	the	DET
gujaf-22	193	48	variance	variance	NOUN
gujaf-22	193	49	of	of	ADP
gujaf-22	193	50	post	post	ADJ
gujaf-22	193	51	-	-	ADJ
gujaf-22	193	52	automation	automation	ADJ
gujaf-22	193	53	abnormal	abnormal	ADJ
gujaf-22	193	54	return	return	NOUN
gujaf-22	193	55	,	,	PUNCT
gujaf-22	193	56	and	and	CCONJ
gujaf-22	193	57	21,nn	21,nn	NUM
gujaf-22	193	58	are	be	AUX
gujaf-22	193	59	the	the	DET
gujaf-22	193	60	number	number	NOUN
gujaf-22	193	61	of	of	ADP
gujaf-22	193	62	announcements	announcement	NOUN
gujaf-22	193	63	in	in	ADP
gujaf-22	193	64	the	the	DET
gujaf-22	193	65	pre	pre	NOUN
gujaf-22	193	66	-	-	NOUN
gujaf-22	193	67	automation	automation	NOUN
gujaf-22	193	68	and	and	CCONJ
gujaf-22	193	69	post	post	ADJ
gujaf-22	193	70	-	-	ADJ
gujaf-22	193	71	automation	automation	ADJ
gujaf-22	193	72	periods	period	NOUN
gujaf-22	193	73	respectively	respectively	ADV
gujaf-22	193	74	.	.	PUNCT
gujaf-22	194	1	to	to	PART
gujaf-22	194	2	compute	compute	VERB
gujaf-22	194	3	the	the	DET
gujaf-22	194	4	pooled	pooled	ADJ
gujaf-22	194	5	standard	standard	ADJ
gujaf-22	194	6	errors	error	NOUN
gujaf-22	194	7	,	,	PUNCT
gujaf-22	194	8	separate	separate	ADJ
gujaf-22	194	9	standard	standard	ADJ
gujaf-22	194	10	deviations	deviation	NOUN
gujaf-22	194	11	were	be	AUX
gujaf-22	194	12	computed	compute	VERB
gujaf-22	194	13	for	for	ADP
gujaf-22	194	14	the	the	DET
gujaf-22	194	15	preautomation	preautomation	NOUN
gujaf-22	194	16	and	and	CCONJ
gujaf-22	194	17	post	post	ADJ
gujaf-22	194	18	-	-	ADJ
gujaf-22	194	19	automation	automation	ADJ
gujaf-22	194	20	periods	period	NOUN
gujaf-22	194	21	using	use	VERB
gujaf-22	194	22	the	the	DET
gujaf-22	194	23	formula	formula	NOUN
gujaf-22	194	24	below	below	ADP
gujaf-22	194	25	:	:	PUNCT
gujaf-22	194	26			NOUN
gujaf-22	194	27			SYM
gujaf-22	194	28	1	1	NUM
gujaf-22	194	29	1	1	NUM
gujaf-22	194	30	2	2	NUM
gujaf-22	194	31			PROPN
gujaf-22	194	32			PROPN
gujaf-22	194	33			PROPN
gujaf-22	194	34			NUM
gujaf-22	194	35			NOUN
gujaf-22	194	36	n	n	CCONJ
gujaf-22	194	37	marar	marar	NOUN
gujaf-22	194	38	n	n	PRON
gujaf-22	194	39	i	i	NOUN
gujaf-22	194	40	…	…	PUNCT
gujaf-22	194	41	…	…	PUNCT
gujaf-22	194	42	…	…	PUNCT
gujaf-22	194	43	…	…	PUNCT
gujaf-22	194	44	…	…	PUNCT
gujaf-22	194	45	…	…	PUNCT
gujaf-22	194	46	…	…	PUNCT
gujaf-22	194	47	…	…	PUNCT
gujaf-22	194	48	……	……	NOUN
gujaf-22	194	49	……	……	NOUN
gujaf-22	194	50	……	……	NOUN
gujaf-22	194	51	..	..	PUNCT
gujaf-22	194	52	…	…	SYM
gujaf-22	194	53	……	……	NOUN
gujaf-22	194	54	.	.	PUNCT
gujaf-22	195	1	(	(	PUNCT
gujaf-22	195	2	16	16	NUM
gujaf-22	195	3	)	)	PUNCT
gujaf-22	195	4	4	4	NUM
gujaf-22	195	5	.	.	NOUN
gujaf-22	195	6	results	result	NOUN
gujaf-22	195	7	and	and	CCONJ
gujaf-22	195	8	discussions	discussion	NOUN
gujaf-22	195	9	as	as	SCONJ
gujaf-22	195	10	was	be	AUX
gujaf-22	195	11	spelt	spelt	VERB
gujaf-22	195	12	out	out	ADP
gujaf-22	195	13	in	in	ADP
gujaf-22	195	14	the	the	DET
gujaf-22	195	15	methodology	methodology	NOUN
gujaf-22	195	16	section	section	NOUN
gujaf-22	195	17	,	,	PUNCT
gujaf-22	195	18	the	the	DET
gujaf-22	195	19	paper	paper	NOUN
gujaf-22	195	20	examined	examine	VERB
gujaf-22	195	21	stationarity	stationarity	NOUN
gujaf-22	195	22	of	of	ADP
gujaf-22	195	23	the	the	DET
gujaf-22	195	24	individual	individual	ADJ
gujaf-22	195	25	announcing	announce	VERB
gujaf-22	195	26	firms	firm	NOUN
gujaf-22	195	27	’	'	PUNCT
gujaf-22	195	28	return	return	NOUN
gujaf-22	195	29	as	as	ADV
gujaf-22	195	30	well	well	ADV
gujaf-22	195	31	as	as	ADP
gujaf-22	195	32	the	the	DET
gujaf-22	195	33	corresponding	correspond	VERB
gujaf-22	195	34	market	market	NOUN
gujaf-22	195	35	return	return	NOUN
gujaf-22	195	36	.	.	PUNCT
gujaf-22	196	1	the	the	DET
gujaf-22	196	2	firm	firm	ADJ
gujaf-22	196	3	and	and	CCONJ
gujaf-22	196	4	corresponding	correspond	VERB
gujaf-22	196	5	market	market	NOUN
gujaf-22	196	6	return	return	NOUN
gujaf-22	196	7	series	series	NOUN
gujaf-22	196	8	were	be	AUX
gujaf-22	196	9	for	for	ADP
gujaf-22	196	10	the	the	DET
gujaf-22	196	11	period	period	NOUN
gujaf-22	196	12	from	from	ADP
gujaf-22	196	13	the	the	DET
gujaf-22	196	14	beginning	beginning	NOUN
gujaf-22	196	15	of	of	ADP
gujaf-22	196	16	the	the	DET
gujaf-22	196	17	estimation	estimation	NOUN
gujaf-22	196	18	window	window	NOUN
gujaf-22	196	19	to	to	ADP
gujaf-22	196	20	the	the	DET
gujaf-22	196	21	end	end	NOUN
gujaf-22	196	22	of	of	ADP
gujaf-22	196	23	the	the	DET
gujaf-22	196	24	event	event	NOUN
gujaf-22	196	25	window	window	NOUN
gujaf-22	196	26	for	for	ADP
gujaf-22	196	27	each	each	DET
gujaf-22	196	28	announcement	announcement	NOUN
gujaf-22	196	29	.	.	PUNCT
gujaf-22	197	1	results	result	NOUN
gujaf-22	197	2	of	of	ADP
gujaf-22	197	3	stationarity	stationarity	NOUN
gujaf-22	197	4	tests	test	NOUN
gujaf-22	197	5	showed	show	VERB
gujaf-22	197	6	that	that	SCONJ
gujaf-22	197	7	out	out	ADP
gujaf-22	197	8	of	of	ADP
gujaf-22	197	9	the	the	DET
gujaf-22	197	10	total	total	ADJ
gujaf-22	197	11	sample	sample	NOUN
gujaf-22	197	12	of	of	ADP
gujaf-22	197	13	83	83	NUM
gujaf-22	197	14	firm	firm	ADJ
gujaf-22	197	15	announcements	announcement	NOUN
gujaf-22	197	16	,	,	PUNCT
gujaf-22	197	17	83	83	NUM
gujaf-22	197	18	return	return	NOUN
gujaf-22	197	19	series	series	NOUN
gujaf-22	197	20	were	be	AUX
gujaf-22	197	21	found	find	VERB
gujaf-22	197	22	to	to	PART
gujaf-22	197	23	be	be	AUX
gujaf-22	197	24	stationary	stationary	ADJ
gujaf-22	197	25	at	at	ADP
gujaf-22	197	26	levels	level	NOUN
gujaf-22	197	27	using	use	VERB
gujaf-22	197	28	adf	adf	PROPN
gujaf-22	197	29	and	and	CCONJ
gujaf-22	197	30	pp	pp	ADP
gujaf-22	197	31	tests	test	NOUN
gujaf-22	197	32	while	while	SCONJ
gujaf-22	197	33	81	81	NUM
gujaf-22	197	34	were	be	AUX
gujaf-22	197	35	found	find	VERB
gujaf-22	197	36	to	to	PART
gujaf-22	197	37	be	be	AUX
gujaf-22	197	38	stationary	stationary	ADJ
gujaf-22	197	39	at	at	ADP
gujaf-22	197	40	levels	level	NOUN
gujaf-22	197	41	using	use	VERB
gujaf-22	197	42	the	the	DET
gujaf-22	197	43	kpss	kpss	PROPN
gujaf-22	197	44	test	test	NOUN
gujaf-22	197	45	.	.	PUNCT
gujaf-22	198	1	for	for	ADP
gujaf-22	198	2	the	the	DET
gujaf-22	198	3	corresponding	correspond	VERB
gujaf-22	198	4	market	market	NOUN
gujaf-22	198	5	return	return	NOUN
gujaf-22	198	6	series	series	NOUN
gujaf-22	198	7	,	,	PUNCT
gujaf-22	198	8	85	85	NUM
gujaf-22	198	9	out	out	ADP
gujaf-22	198	10	of	of	ADP
gujaf-22	198	11	the	the	DET
gujaf-22	198	12	86	86	NUM
gujaf-22	198	13	series	series	NOUN
gujaf-22	198	14	were	be	AUX
gujaf-22	198	15	found	find	VERB
gujaf-22	198	16	to	to	PART
gujaf-22	198	17	be	be	AUX
gujaf-22	198	18	stationary	stationary	ADJ
gujaf-22	198	19	at	at	ADP
gujaf-22	198	20	levels	level	NOUN
gujaf-22	198	21	using	use	VERB
gujaf-22	198	22	the	the	DET
gujaf-22	198	23	adf	adf	NOUN
gujaf-22	198	24	and	and	CCONJ
gujaf-22	198	25	pp	pp	ADP
gujaf-22	198	26	tests	test	NOUN
gujaf-22	198	27	while	while	SCONJ
gujaf-22	198	28	84	84	NUM
gujaf-22	198	29	were	be	AUX
gujaf-22	198	30	found	find	VERB
gujaf-22	198	31	stationary	stationary	ADJ
gujaf-22	198	32	at	at	ADP
gujaf-22	198	33	levels	level	NOUN
gujaf-22	198	34	using	use	VERB
gujaf-22	198	35	the	the	DET
gujaf-22	198	36	kpss	kpss	PROPN
gujaf-22	198	37	test	test	NOUN
gujaf-22	198	38	.	.	PUNCT
gujaf-22	199	1	for	for	ADP
gujaf-22	199	2	brevity	brevity	NOUN
gujaf-22	199	3	,	,	PUNCT
gujaf-22	199	4	the	the	DET
gujaf-22	199	5	tables	table	NOUN
gujaf-22	199	6	could	could	AUX
gujaf-22	199	7	not	not	PART
gujaf-22	199	8	be	be	AUX
gujaf-22	199	9	presented	present	VERB
gujaf-22	199	10	in	in	ADP
gujaf-22	199	11	the	the	DET
gujaf-22	199	12	paper	paper	NOUN
gujaf-22	199	13	but	but	CCONJ
gujaf-22	199	14	are	be	AUX
gujaf-22	199	15	available	available	ADJ
gujaf-22	199	16	upon	upon	SCONJ
gujaf-22	199	17	request	request	NOUN
gujaf-22	199	18	.	.	PUNCT
gujaf-22	200	1	gujaf	gujaf	NOUN
gujaf-22	200	2	:	:	PUNCT
gujaf-22	200	3	gusau	gusau	PROPN
gujaf-22	200	4	journal	journal	NOUN
gujaf-22	200	5	of	of	ADP
gujaf-22	200	6	accounting	accounting	NOUN
gujaf-22	200	7	and	and	CCONJ
gujaf-22	200	8	finance	finance	NOUN
gujaf-22	200	9	,	,	PUNCT
gujaf-22	200	10	vol	vol	NOUN
gujaf-22	200	11	.	.	PUNCT
gujaf-22	201	1	i	i	PRON
gujaf-22	201	2	,	,	PUNCT
gujaf-22	201	3	issue	issue	NOUN
gujaf-22	201	4	1	1	NUM
gujaf-22	201	5	,	,	PUNCT
gujaf-22	201	6	april	april	PROPN
gujaf-22	201	7	,	,	PUNCT
gujaf-22	201	8	2020	2020	NUM
gujaf-22	201	9	issn	issn	VERB
gujaf-22	201	10	2756	2756	NUM
gujaf-22	201	11	-	-	PUNCT
gujaf-22	201	12	665x	665x	NOUN
gujaf-22	201	13	13	13	NUM
gujaf-22	201	14	a	a	DET
gujaf-22	201	15	look	look	NOUN
gujaf-22	201	16	at	at	ADP
gujaf-22	201	17	the	the	DET
gujaf-22	201	18	results	result	NOUN
gujaf-22	201	19	from	from	ADP
gujaf-22	201	20	the	the	DET
gujaf-22	201	21	pre	pre	NOUN
gujaf-22	201	22	-	-	NOUN
gujaf-22	201	23	automation	automation	NOUN
gujaf-22	201	24	and	and	CCONJ
gujaf-22	201	25	post	post	ADJ
gujaf-22	201	26	-	-	ADJ
gujaf-22	201	27	automation	automation	ADJ
gujaf-22	201	28	perspectives	perspective	NOUN
gujaf-22	201	29	reveals	reveal	VERB
gujaf-22	201	30	that	that	SCONJ
gujaf-22	201	31	out	out	ADP
gujaf-22	201	32	of	of	ADP
gujaf-22	201	33	the	the	DET
gujaf-22	201	34	total	total	NOUN
gujaf-22	201	35	of	of	ADP
gujaf-22	201	36	83	83	NUM
gujaf-22	201	37	firm	firm	ADJ
gujaf-22	201	38	return	return	NOUN
gujaf-22	201	39	series	series	NOUN
gujaf-22	201	40	that	that	PRON
gujaf-22	201	41	were	be	AUX
gujaf-22	201	42	found	find	VERB
gujaf-22	201	43	stationary	stationary	ADJ
gujaf-22	201	44	using	use	VERB
gujaf-22	201	45	adf	adf	PROPN
gujaf-22	201	46	and	and	CCONJ
gujaf-22	201	47	pp	pp	ADP
gujaf-22	201	48	tests	test	NOUN
gujaf-22	201	49	,	,	PUNCT
gujaf-22	201	50	25	25	NUM
gujaf-22	201	51	fell	fall	VERB
gujaf-22	201	52	within	within	ADP
gujaf-22	201	53	the	the	DET
gujaf-22	201	54	pre	pre	ADJ
gujaf-22	201	55	-	-	NOUN
gujaf-22	201	56	automation	automation	ADJ
gujaf-22	201	57	period	period	NOUN
gujaf-22	201	58	,	,	PUNCT
gujaf-22	201	59	and	and	CCONJ
gujaf-22	201	60	58	58	NUM
gujaf-22	201	61	were	be	AUX
gujaf-22	201	62	within	within	ADP
gujaf-22	201	63	the	the	DET
gujaf-22	201	64	post	post	ADJ
gujaf-22	201	65	-	-	ADJ
gujaf-22	201	66	automation	automation	ADJ
gujaf-22	201	67	period	period	NOUN
gujaf-22	201	68	.	.	PUNCT
gujaf-22	202	1	for	for	ADP
gujaf-22	202	2	the	the	DET
gujaf-22	202	3	kpss	kpss	PROPN
gujaf-22	202	4	test	test	NOUN
gujaf-22	202	5	,	,	PUNCT
gujaf-22	202	6	24	24	NUM
gujaf-22	202	7	of	of	ADP
gujaf-22	202	8	the	the	DET
gujaf-22	202	9	stationary	stationary	ADJ
gujaf-22	202	10	firm	firm	ADJ
gujaf-22	202	11	return	return	NOUN
gujaf-22	202	12	were	be	AUX
gujaf-22	202	13	within	within	ADP
gujaf-22	202	14	the	the	DET
gujaf-22	202	15	pre	pre	ADJ
gujaf-22	202	16	-	-	ADJ
gujaf-22	202	17	automation	automation	ADJ
gujaf-22	202	18	phase	phase	NOUN
gujaf-22	202	19	while	while	SCONJ
gujaf-22	202	20	the	the	DET
gujaf-22	202	21	balance	balance	NOUN
gujaf-22	202	22	of	of	ADP
gujaf-22	202	23	57	57	NUM
gujaf-22	202	24	series	series	NOUN
gujaf-22	202	25	were	be	AUX
gujaf-22	202	26	within	within	ADP
gujaf-22	202	27	the	the	DET
gujaf-22	202	28	postautomation	postautomation	NOUN
gujaf-22	202	29	phase	phase	NOUN
gujaf-22	202	30	.	.	PUNCT
gujaf-22	203	1	on	on	ADP
gujaf-22	203	2	the	the	DET
gujaf-22	203	3	other	other	ADJ
gujaf-22	203	4	hand	hand	NOUN
gujaf-22	203	5	,	,	PUNCT
gujaf-22	203	6	the	the	DET
gujaf-22	203	7	85	85	NUM
gujaf-22	203	8	corresponding	correspond	VERB
gujaf-22	203	9	market	market	NOUN
gujaf-22	203	10	return	return	NOUN
gujaf-22	203	11	series	series	NOUN
gujaf-22	203	12	that	that	PRON
gujaf-22	203	13	were	be	AUX
gujaf-22	203	14	found	find	VERB
gujaf-22	203	15	to	to	PART
gujaf-22	203	16	be	be	AUX
gujaf-22	203	17	stationary	stationary	ADJ
gujaf-22	203	18	using	use	VERB
gujaf-22	203	19	the	the	DET
gujaf-22	203	20	adf	adf	NOUN
gujaf-22	203	21	and	and	CCONJ
gujaf-22	203	22	pp	pp	PROPN
gujaf-22	203	23	tests	test	NOUN
gujaf-22	203	24	consisted	consist	VERB
gujaf-22	203	25	of	of	ADP
gujaf-22	203	26	26	26	NUM
gujaf-22	203	27	series	series	NOUN
gujaf-22	203	28	in	in	ADP
gujaf-22	203	29	the	the	DET
gujaf-22	203	30	pre	pre	NOUN
gujaf-22	203	31	-	-	NOUN
gujaf-22	203	32	automation	automation	ADJ
gujaf-22	203	33	period	period	NOUN
gujaf-22	203	34	and	and	CCONJ
gujaf-22	203	35	59	59	NUM
gujaf-22	203	36	in	in	ADP
gujaf-22	203	37	the	the	DET
gujaf-22	203	38	post	post	ADJ
gujaf-22	203	39	-	-	ADJ
gujaf-22	203	40	automation	automation	ADJ
gujaf-22	203	41	period	period	NOUN
gujaf-22	203	42	.	.	PUNCT
gujaf-22	204	1	using	use	VERB
gujaf-22	204	2	the	the	DET
gujaf-22	204	3	kpss	kpss	PROPN
gujaf-22	204	4	test	test	NOUN
gujaf-22	204	5	,	,	PUNCT
gujaf-22	204	6	the	the	DET
gujaf-22	204	7	84	84	NUM
gujaf-22	204	8	market	market	NOUN
gujaf-22	204	9	return	return	NOUN
gujaf-22	204	10	series	series	NOUN
gujaf-22	204	11	that	that	PRON
gujaf-22	204	12	were	be	AUX
gujaf-22	204	13	found	find	VERB
gujaf-22	204	14	to	to	PART
gujaf-22	204	15	be	be	AUX
gujaf-22	204	16	stationary	stationary	ADJ
gujaf-22	204	17	were	be	AUX
gujaf-22	204	18	made	make	VERB
gujaf-22	204	19	up	up	ADP
gujaf-22	204	20	of	of	ADP
gujaf-22	204	21	25	25	NUM
gujaf-22	204	22	pre	pre	ADJ
gujaf-22	204	23	-	-	ADJ
gujaf-22	204	24	automation	automation	ADJ
gujaf-22	204	25	series	series	NOUN
gujaf-22	204	26	and	and	CCONJ
gujaf-22	204	27	59	59	NUM
gujaf-22	204	28	post	post	ADJ
gujaf-22	204	29	-	-	ADJ
gujaf-22	204	30	automation	automation	ADJ
gujaf-22	204	31	series	series	NOUN
gujaf-22	204	32	respectively	respectively	ADV
gujaf-22	204	33	.	.	PUNCT
gujaf-22	205	1	therefore	therefore	ADV
gujaf-22	205	2	,	,	PUNCT
gujaf-22	205	3	results	result	NOUN
gujaf-22	205	4	of	of	ADP
gujaf-22	205	5	stationarity	stationarity	NOUN
gujaf-22	205	6	test	test	NOUN
gujaf-22	205	7	on	on	ADP
gujaf-22	205	8	the	the	DET
gujaf-22	205	9	whole	whole	NOUN
gujaf-22	205	10	suggest	suggest	VERB
gujaf-22	205	11	that	that	SCONJ
gujaf-22	205	12	almost	almost	ADV
gujaf-22	205	13	all	all	DET
gujaf-22	205	14	the	the	DET
gujaf-22	205	15	firm	firm	ADJ
gujaf-22	205	16	and	and	CCONJ
gujaf-22	205	17	corresponding	correspond	VERB
gujaf-22	205	18	market	market	NOUN
gujaf-22	205	19	return	return	NOUN
gujaf-22	205	20	series	series	NOUN
gujaf-22	205	21	were	be	AUX
gujaf-22	205	22	found	find	VERB
gujaf-22	205	23	to	to	PART
gujaf-22	205	24	be	be	AUX
gujaf-22	205	25	stationary	stationary	ADJ
gujaf-22	205	26	at	at	ADP
gujaf-22	205	27	levels	level	NOUN
gujaf-22	205	28	using	use	VERB
gujaf-22	205	29	all	all	DET
gujaf-22	205	30	the	the	DET
gujaf-22	205	31	three	three	NUM
gujaf-22	205	32	tests	test	NOUN
gujaf-22	205	33	for	for	ADP
gujaf-22	205	34	stationarity	stationarity	NOUN
gujaf-22	205	35	.	.	PUNCT
gujaf-22	206	1	the	the	DET
gujaf-22	206	2	fact	fact	NOUN
gujaf-22	206	3	that	that	SCONJ
gujaf-22	206	4	the	the	DET
gujaf-22	206	5	series	series	NOUN
gujaf-22	206	6	were	be	AUX
gujaf-22	206	7	found	find	VERB
gujaf-22	206	8	to	to	PART
gujaf-22	206	9	be	be	AUX
gujaf-22	206	10	stationary	stationary	ADJ
gujaf-22	206	11	at	at	ADP
gujaf-22	206	12	levels	level	NOUN
gujaf-22	206	13	implies	imply	VERB
gujaf-22	206	14	that	that	SCONJ
gujaf-22	206	15	the	the	DET
gujaf-22	206	16	firm	firm	ADJ
gujaf-22	206	17	and	and	CCONJ
gujaf-22	206	18	market	market	NOUN
gujaf-22	206	19	return	return	NOUN
gujaf-22	206	20	series	series	NOUN
gujaf-22	206	21	were	be	AUX
gujaf-22	206	22	integrated	integrate	VERB
gujaf-22	206	23	of	of	ADP
gujaf-22	206	24	the	the	DET
gujaf-22	206	25	order	order	NOUN
gujaf-22	206	26	i(0	i(0	PROPN
gujaf-22	206	27	)	)	PUNCT
gujaf-22	206	28	.	.	PUNCT
gujaf-22	207	1	the	the	DET
gujaf-22	207	2	finding	finding	NOUN
gujaf-22	207	3	of	of	ADP
gujaf-22	207	4	stationary	stationary	ADJ
gujaf-22	207	5	returns	return	NOUN
gujaf-22	207	6	lends	lend	VERB
gujaf-22	207	7	credence	credence	NOUN
gujaf-22	207	8	to	to	ADP
gujaf-22	207	9	existing	exist	VERB
gujaf-22	207	10	empirical	empirical	ADJ
gujaf-22	207	11	and	and	CCONJ
gujaf-22	207	12	theoretical	theoretical	ADJ
gujaf-22	207	13	evidence	evidence	NOUN
gujaf-22	207	14	that	that	SCONJ
gujaf-22	207	15	asset	asset	NOUN
gujaf-22	207	16	prices	price	NOUN
gujaf-22	207	17	are	be	AUX
gujaf-22	207	18	traditionally	traditionally	ADV
gujaf-22	207	19	non	non	ADJ
gujaf-22	207	20	-	-	ADJ
gujaf-22	207	21	stationary	stationary	ADJ
gujaf-22	207	22	,	,	PUNCT
gujaf-22	207	23	while	while	SCONJ
gujaf-22	207	24	asset	asset	NOUN
gujaf-22	207	25	returns	return	NOUN
gujaf-22	207	26	tend	tend	VERB
gujaf-22	207	27	to	to	PART
gujaf-22	207	28	be	be	AUX
gujaf-22	207	29	stationary	stationary	ADJ
gujaf-22	207	30	(	(	PUNCT
gujaf-22	207	31	agung	agung	PROPN
gujaf-22	207	32	,	,	PUNCT
gujaf-22	207	33	2009	2009	NUM
gujaf-22	207	34	;	;	PUNCT
gujaf-22	207	35	brooks	brooks	PROPN
gujaf-22	207	36	,	,	PUNCT
gujaf-22	207	37	2008	2008	NUM
gujaf-22	207	38	;	;	PUNCT
gujaf-22	207	39	demedeiros	demedeiros	PROPN
gujaf-22	207	40	&	&	CCONJ
gujaf-22	207	41	matsumoto	matsumoto	PROPN
gujaf-22	207	42	,	,	PUNCT
gujaf-22	207	43	2006	2006	NUM
gujaf-22	207	44	)	)	PUNCT
gujaf-22	207	45	.	.	PUNCT
gujaf-22	208	1	after	after	ADP
gujaf-22	208	2	the	the	DET
gujaf-22	208	3	test	test	NOUN
gujaf-22	208	4	of	of	ADP
gujaf-22	208	5	stationarity	stationarity	NOUN
gujaf-22	208	6	,	,	PUNCT
gujaf-22	208	7	the	the	DET
gujaf-22	208	8	abnormal	abnormal	ADJ
gujaf-22	208	9	return	return	NOUN
gujaf-22	208	10	for	for	ADP
gujaf-22	208	11	each	each	DET
gujaf-22	208	12	firm	firm	NOUN
gujaf-22	208	13	,	,	PUNCT
gujaf-22	208	14	arising	arise	VERB
gujaf-22	208	15	from	from	ADP
gujaf-22	208	16	its	its	PRON
gujaf-22	208	17	seo	seo	NOUN
gujaf-22	208	18	announcement	announcement	NOUN
gujaf-22	208	19	,	,	PUNCT
gujaf-22	208	20	was	be	AUX
gujaf-22	208	21	computed	compute	VERB
gujaf-22	208	22	in	in	ADP
gujaf-22	208	23	line	line	NOUN
gujaf-22	208	24	with	with	ADP
gujaf-22	208	25	the	the	DET
gujaf-22	208	26	methods	method	NOUN
gujaf-22	208	27	specified	specify	VERB
gujaf-22	208	28	under	under	ADP
gujaf-22	208	29	the	the	DET
gujaf-22	208	30	methodology	methodology	NOUN
gujaf-22	208	31	section	section	NOUN
gujaf-22	208	32	.	.	PUNCT
gujaf-22	209	1	the	the	DET
gujaf-22	209	2	individual	individual	ADJ
gujaf-22	209	3	firms	firm	NOUN
gujaf-22	209	4	’	'	PUNCT
gujaf-22	209	5	abnormal	abnormal	ADJ
gujaf-22	209	6	return	return	NOUN
gujaf-22	209	7	was	be	AUX
gujaf-22	209	8	then	then	ADV
gujaf-22	209	9	aggregated	aggregate	VERB
gujaf-22	209	10	to	to	PART
gujaf-22	209	11	obtain	obtain	VERB
gujaf-22	209	12	the	the	DET
gujaf-22	209	13	abnormal	abnormal	ADJ
gujaf-22	209	14	return	return	NOUN
gujaf-22	209	15	and	and	CCONJ
gujaf-22	209	16	cumulative	cumulative	ADJ
gujaf-22	209	17	abnormal	abnormal	ADJ
gujaf-22	209	18	return	return	NOUN
gujaf-22	209	19	.	.	PUNCT
gujaf-22	210	1	table	table	NOUN
gujaf-22	210	2	1	1	NUM
gujaf-22	210	3	presents	present	VERB
gujaf-22	210	4	the	the	DET
gujaf-22	210	5	descriptive	descriptive	ADJ
gujaf-22	210	6	statistics	statistic	NOUN
gujaf-22	210	7	for	for	ADP
gujaf-22	210	8	the	the	DET
gujaf-22	210	9	computed	compute	VERB
gujaf-22	210	10	abnormal	abnormal	ADJ
gujaf-22	210	11	return	return	NOUN
gujaf-22	210	12	and	and	CCONJ
gujaf-22	210	13	cumulative	cumulative	ADJ
gujaf-22	210	14	abnormal	abnormal	ADJ
gujaf-22	210	15	return	return	NOUN
gujaf-22	210	16	.	.	PUNCT
gujaf-22	211	1	table	table	NOUN
gujaf-22	211	2	1	1	NUM
gujaf-22	211	3	:	:	PUNCT
gujaf-22	211	4	pre	pre	ADJ
gujaf-22	211	5	-	-	NOUN
gujaf-22	211	6	recession	recession	NOUN
gujaf-22	211	7	and	and	CCONJ
gujaf-22	211	8	post	post	ADJ
gujaf-22	211	9	-	-	ADJ
gujaf-22	211	10	recession	recession	ADJ
gujaf-22	211	11	return	return	NOUN
gujaf-22	211	12	descriptives	descriptive	NOUN
gujaf-22	211	13	panel	panel	NOUN
gujaf-22	211	14	a	a	DET
gujaf-22	211	15	:	:	PUNCT
gujaf-22	211	16	pre	pre	ADJ
gujaf-22	211	17	-	-	NOUN
gujaf-22	211	18	automation	automation	ADJ
gujaf-22	211	19	return	return	NOUN
gujaf-22	211	20	descriptives	descriptive	NOUN
gujaf-22	211	21	mean	mean	VERB
gujaf-22	212	1	std	std	PROPN
gujaf-22	212	2	.	.	PROPN
gujaf-22	213	1	dev	dev	PROPN
gujaf-22	213	2	.	.	PUNCT
gujaf-22	213	3	min	min	PROPN
gujaf-22	213	4	.	.	PROPN
gujaf-22	213	5	max	max	PROPN
gujaf-22	213	6	.	.	PROPN
gujaf-22	214	1	skewness	skewness	PROPN
gujaf-22	214	2	kurtosis	kurtosis	VERB
gujaf-22	214	3	jarque	jarque	NOUN
gujaf-22	214	4	-	-	PUNCT
gujaf-22	214	5	bera	bera	NOUN
gujaf-22	214	6	pre	pre	NOUN
gujaf-22	214	7	-	-	NOUN
gujaf-22	214	8	ar	ar	VERB
gujaf-22	214	9	0.005	0.005	NUM
gujaf-22	214	10	0.014	0.014	NUM
gujaf-22	214	11	-0.045	-0.045	PUNCT
gujaf-22	214	12	0.021	0.021	NUM
gujaf-22	214	13	-0.638	-0.638	NUM
gujaf-22	214	14	3.773	3.773	NUM
gujaf-22	214	15	2.874	2.874	NUM
gujaf-22	214	16	pre	pre	NOUN
gujaf-22	214	17	-	-	NOUN
gujaf-22	214	18	car	car	NOUN
gujaf-22	214	19	0.130	0.130	NUM
gujaf-22	214	20	0.068	0.068	NUM
gujaf-22	214	21	-0.211	-0.211	PUNCT
gujaf-22	214	22	0.000	0.000	NUM
gujaf-22	214	23	0.394	0.394	NUM
gujaf-22	214	24	1.734	1.734	NUM
gujaf-22	214	25	2.872	2.872	NUM
gujaf-22	214	26	panel	panel	NOUN
gujaf-22	214	27	b	b	NOUN
gujaf-22	214	28	:	:	PUNCT
gujaf-22	214	29	post	post	ADJ
gujaf-22	214	30	-	-	ADJ
gujaf-22	214	31	automation	automation	ADJ
gujaf-22	214	32	return	return	NOUN
gujaf-22	214	33	descriptives	descriptive	NOUN
gujaf-22	214	34	mean	mean	VERB
gujaf-22	215	1	std	std	PROPN
gujaf-22	215	2	.	.	PROPN
gujaf-22	216	1	dev	dev	PROPN
gujaf-22	216	2	.	.	PUNCT
gujaf-22	216	3	min	min	PROPN
gujaf-22	216	4	.	.	PROPN
gujaf-22	216	5	max	max	PROPN
gujaf-22	216	6	.	.	PROPN
gujaf-22	217	1	skewness	skewness	PROPN
gujaf-22	217	2	kurtosis	kurtosis	VERB
gujaf-22	217	3	normality	normality	NOUN
gujaf-22	217	4	post	post	ADJ
gujaf-22	217	5	-	-	NOUN
gujaf-22	217	6	ar	ar	ADJ
gujaf-22	217	7	0.004	0.004	NUM
gujaf-22	217	8	0.016	0.016	NUM
gujaf-22	217	9	-0.044	-0.044	PROPN
gujaf-22	218	1	0.023	0.023	NUM
gujaf-22	218	2	-0.619	-0.619	NUM
gujaf-22	218	3	3.096	3.096	NUM
gujaf-22	218	4	1.990	1.990	NUM
gujaf-22	218	5	gujaf	gujaf	NOUN
gujaf-22	218	6	:	:	PUNCT
gujaf-22	218	7	gusau	gusau	PROPN
gujaf-22	218	8	journal	journal	NOUN
gujaf-22	218	9	of	of	ADP
gujaf-22	218	10	accounting	accounting	NOUN
gujaf-22	218	11	and	and	CCONJ
gujaf-22	218	12	finance	finance	NOUN
gujaf-22	218	13	,	,	PUNCT
gujaf-22	218	14	vol	vol	NOUN
gujaf-22	218	15	.	.	PUNCT
gujaf-22	219	1	i	i	PRON
gujaf-22	219	2	,	,	PUNCT
gujaf-22	219	3	issue	issue	NOUN
gujaf-22	219	4	1	1	NUM
gujaf-22	219	5	,	,	PUNCT
gujaf-22	219	6	april	april	PROPN
gujaf-22	219	7	,	,	PUNCT
gujaf-22	219	8	2020	2020	NUM
gujaf-22	219	9	issn	issn	VERB
gujaf-22	219	10	2756	2756	NUM
gujaf-22	219	11	-	-	PUNCT
gujaf-22	219	12	665x	665x	NOUN
gujaf-22	219	13	14	14	NUM
gujaf-22	219	14	post	post	NOUN
gujaf-22	219	15	-	-	NOUN
gujaf-22	219	16	car	car	NOUN
gujaf-22	219	17	0.073	0.073	NUM
gujaf-22	219	18	0.064	0.064	NUM
gujaf-22	219	19	-0.171	-0.171	NUM
gujaf-22	219	20	0.043	0.043	NUM
gujaf-22	219	21	0.159	0.159	NUM
gujaf-22	219	22	1.675	1.675	NUM
gujaf-22	219	23	2.400	2.400	NUM
gujaf-22	219	24	source	source	NOUN
gujaf-22	219	25	:	:	PUNCT
gujaf-22	219	26	author	author	NOUN
gujaf-22	219	27	’s	’s	PART
gujaf-22	219	28	compilations	compilation	NOUN
gujaf-22	219	29	from	from	ADP
gujaf-22	219	30	e	e	NOUN
gujaf-22	219	31	-	-	NOUN
gujaf-22	219	32	views	views	ADJ
gujaf-22	219	33	10	10	NUM
gujaf-22	219	34	output	output	NOUN
gujaf-22	219	35	,	,	PUNCT
gujaf-22	219	36	2020	2020	NUM
gujaf-22	219	37	*	*	SYM
gujaf-22	219	38	,	,	PUNCT
gujaf-22	219	39	*	*	PUNCT
gujaf-22	219	40	*	*	PUNCT
gujaf-22	219	41	and	and	CCONJ
gujaf-22	219	42	*	*	NOUN
gujaf-22	219	43	*	*	PUNCT
gujaf-22	219	44	*	*	PUNCT
gujaf-22	219	45	imply	imply	VERB
gujaf-22	219	46	significance	significance	NOUN
gujaf-22	219	47	at	at	ADP
gujaf-22	219	48	the	the	DET
gujaf-22	219	49	10	10	NUM
gujaf-22	219	50	%	%	NOUN
gujaf-22	219	51	,	,	PUNCT
gujaf-22	219	52	5	5	NUM
gujaf-22	219	53	%	%	NOUN
gujaf-22	219	54	and	and	CCONJ
gujaf-22	219	55	1	1	NUM
gujaf-22	219	56	%	%	NOUN
gujaf-22	219	57	levels	level	NOUN
gujaf-22	219	58	respectively	respectively	ADV
gujaf-22	219	59	.	.	PUNCT
gujaf-22	220	1	it	it	PRON
gujaf-22	220	2	can	can	AUX
gujaf-22	220	3	be	be	AUX
gujaf-22	220	4	seen	see	VERB
gujaf-22	220	5	from	from	ADP
gujaf-22	220	6	panel	panel	NOUN
gujaf-22	220	7	a	a	PRON
gujaf-22	220	8	of	of	ADP
gujaf-22	220	9	table	table	NOUN
gujaf-22	220	10	1	1	NUM
gujaf-22	220	11	that	that	PRON
gujaf-22	220	12	mean	mean	VERB
gujaf-22	220	13	pre	pre	ADJ
gujaf-22	220	14	-	-	ADJ
gujaf-22	220	15	automation	automation	ADJ
gujaf-22	220	16	abnormal	abnormal	ADJ
gujaf-22	220	17	return	return	NOUN
gujaf-22	220	18	and	and	CCONJ
gujaf-22	220	19	cumulative	cumulative	ADJ
gujaf-22	220	20	abnormal	abnormal	ADJ
gujaf-22	220	21	return	return	NOUN
gujaf-22	220	22	are	be	AUX
gujaf-22	220	23	negative	negative	ADJ
gujaf-22	220	24	,	,	PUNCT
gujaf-22	220	25	indicating	indicate	VERB
gujaf-22	220	26	that	that	SCONJ
gujaf-22	220	27	the	the	DET
gujaf-22	220	28	market	market	NOUN
gujaf-22	220	29	,	,	PUNCT
gujaf-22	220	30	on	on	ADP
gujaf-22	220	31	the	the	DET
gujaf-22	220	32	average	average	NOUN
gujaf-22	220	33	,	,	PUNCT
gujaf-22	220	34	reacted	react	VERB
gujaf-22	220	35	adversely	adversely	ADV
gujaf-22	220	36	to	to	ADP
gujaf-22	220	37	the	the	DET
gujaf-22	220	38	announcement	announcement	NOUN
gujaf-22	220	39	.	.	PUNCT
gujaf-22	221	1	the	the	DET
gujaf-22	221	2	standard	standard	ADJ
gujaf-22	221	3	deviations	deviation	NOUN
gujaf-22	221	4	of	of	ADP
gujaf-22	221	5	0.014	0.014	NUM
gujaf-22	221	6	and	and	CCONJ
gujaf-22	221	7	0.068	0.068	NUM
gujaf-22	221	8	for	for	ADP
gujaf-22	221	9	the	the	DET
gujaf-22	221	10	pre	pre	ADJ
gujaf-22	221	11	-	-	ADJ
gujaf-22	221	12	automation	automation	ADJ
gujaf-22	221	13	abnormal	abnormal	ADJ
gujaf-22	221	14	return	return	NOUN
gujaf-22	221	15	and	and	CCONJ
gujaf-22	221	16	cumulative	cumulative	ADJ
gujaf-22	221	17	abnormal	abnormal	ADJ
gujaf-22	221	18	return	return	NOUN
gujaf-22	221	19	respectively	respectively	ADV
gujaf-22	221	20	suggest	suggest	VERB
gujaf-22	221	21	mild	mild	ADJ
gujaf-22	221	22	dispersion	dispersion	NOUN
gujaf-22	221	23	around	around	ADP
gujaf-22	221	24	the	the	DET
gujaf-22	221	25	mean	mean	ADJ
gujaf-22	221	26	values	value	NOUN
gujaf-22	221	27	.	.	PUNCT
gujaf-22	222	1	the	the	DET
gujaf-22	222	2	evidence	evidence	NOUN
gujaf-22	222	3	of	of	ADP
gujaf-22	222	4	mild	mild	ADJ
gujaf-22	222	5	dispersion	dispersion	NOUN
gujaf-22	222	6	is	be	AUX
gujaf-22	222	7	further	far	ADV
gujaf-22	222	8	supported	support	VERB
gujaf-22	222	9	by	by	ADP
gujaf-22	222	10	the	the	DET
gujaf-22	222	11	relatively	relatively	ADV
gujaf-22	222	12	low	low	ADJ
gujaf-22	222	13	variability	variability	NOUN
gujaf-22	222	14	between	between	ADP
gujaf-22	222	15	the	the	DET
gujaf-22	222	16	minimum	minimum	ADJ
gujaf-22	222	17	and	and	CCONJ
gujaf-22	222	18	maximum	maximum	ADJ
gujaf-22	222	19	values	value	NOUN
gujaf-22	222	20	of	of	ADP
gujaf-22	222	21	abnormal	abnormal	ADJ
gujaf-22	222	22	return	return	NOUN
gujaf-22	222	23	and	and	CCONJ
gujaf-22	222	24	cumulative	cumulative	ADJ
gujaf-22	222	25	abnormal	abnormal	ADJ
gujaf-22	222	26	return	return	NOUN
gujaf-22	222	27	respectively	respectively	ADV
gujaf-22	222	28	.	.	PUNCT
gujaf-22	223	1	the	the	DET
gujaf-22	223	2	panel	panel	NOUN
gujaf-22	223	3	further	far	ADV
gujaf-22	223	4	shows	show	VERB
gujaf-22	223	5	that	that	SCONJ
gujaf-22	223	6	while	while	SCONJ
gujaf-22	223	7	the	the	DET
gujaf-22	223	8	pre	pre	NOUN
gujaf-22	223	9	-	-	ADJ
gujaf-22	223	10	automation	automation	ADJ
gujaf-22	223	11	abnormal	abnormal	ADJ
gujaf-22	223	12	return	return	NOUN
gujaf-22	223	13	series	series	NOUN
gujaf-22	223	14	is	be	AUX
gujaf-22	223	15	negatively	negatively	ADV
gujaf-22	223	16	skewed	skewed	ADJ
gujaf-22	223	17	and	and	CCONJ
gujaf-22	223	18	this	this	PRON
gujaf-22	223	19	have	have	VERB
gujaf-22	223	20	a	a	DET
gujaf-22	223	21	longer	long	ADJ
gujaf-22	223	22	left	leave	VERB
gujaf-22	223	23	tail	tail	NOUN
gujaf-22	223	24	,	,	PUNCT
gujaf-22	223	25	the	the	DET
gujaf-22	223	26	cumulative	cumulative	ADJ
gujaf-22	223	27	abnormal	abnormal	ADJ
gujaf-22	223	28	return	return	NOUN
gujaf-22	223	29	series	series	NOUN
gujaf-22	223	30	is	be	AUX
gujaf-22	223	31	positively	positively	ADV
gujaf-22	223	32	skewed	skew	VERB
gujaf-22	223	33	and	and	CCONJ
gujaf-22	223	34	thus	thus	ADV
gujaf-22	223	35	have	have	VERB
gujaf-22	223	36	a	a	DET
gujaf-22	223	37	longer	long	ADJ
gujaf-22	223	38	right	right	ADJ
gujaf-22	223	39	tail	tail	NOUN
gujaf-22	223	40	.	.	PUNCT
gujaf-22	224	1	in	in	ADP
gujaf-22	224	2	terms	term	NOUN
gujaf-22	224	3	of	of	ADP
gujaf-22	224	4	kurtosis	kurtosis	NOUN
gujaf-22	224	5	,	,	PUNCT
gujaf-22	224	6	the	the	DET
gujaf-22	224	7	descriptives	descriptive	NOUN
gujaf-22	224	8	show	show	VERB
gujaf-22	224	9	that	that	SCONJ
gujaf-22	224	10	distribution	distribution	NOUN
gujaf-22	224	11	of	of	ADP
gujaf-22	224	12	pre	pre	ADJ
gujaf-22	224	13	-	-	ADJ
gujaf-22	224	14	automation	automation	ADJ
gujaf-22	224	15	abnormal	abnormal	ADJ
gujaf-22	224	16	return	return	NOUN
gujaf-22	224	17	is	be	AUX
gujaf-22	224	18	leptokurtic	leptokurtic	ADJ
gujaf-22	224	19	or	or	CCONJ
gujaf-22	224	20	slightly	slightly	ADV
gujaf-22	224	21	peaked	peak	VERB
gujaf-22	224	22	around	around	ADP
gujaf-22	224	23	the	the	DET
gujaf-22	224	24	mean	mean	NOUN
gujaf-22	224	25	while	while	SCONJ
gujaf-22	224	26	the	the	DET
gujaf-22	224	27	distribution	distribution	NOUN
gujaf-22	224	28	of	of	ADP
gujaf-22	224	29	cumulative	cumulative	ADJ
gujaf-22	224	30	abnormal	abnormal	ADJ
gujaf-22	224	31	return	return	NOUN
gujaf-22	224	32	is	be	AUX
gujaf-22	224	33	reasonably	reasonably	ADV
gujaf-22	224	34	platykurtic	platykurtic	ADJ
gujaf-22	224	35	or	or	CCONJ
gujaf-22	224	36	flat	flat	ADJ
gujaf-22	224	37	at	at	ADP
gujaf-22	224	38	the	the	DET
gujaf-22	224	39	surface	surface	NOUN
gujaf-22	224	40	around	around	ADP
gujaf-22	224	41	the	the	DET
gujaf-22	224	42	mean	mean	NOUN
gujaf-22	224	43	as	as	SCONJ
gujaf-22	224	44	it	it	PRON
gujaf-22	224	45	is	be	AUX
gujaf-22	224	46	by	by	ADP
gujaf-22	224	47	far	far	ADV
gujaf-22	224	48	less	less	ADJ
gujaf-22	224	49	than	than	ADP
gujaf-22	224	50	the	the	DET
gujaf-22	224	51	threshold	threshold	NOUN
gujaf-22	224	52	value	value	NOUN
gujaf-22	224	53	of	of	ADP
gujaf-22	224	54	3	3	NUM
gujaf-22	224	55	,	,	PUNCT
gujaf-22	224	56	which	which	PRON
gujaf-22	224	57	suggests	suggest	VERB
gujaf-22	224	58	mesokurtosis	mesokurtosis	NOUN
gujaf-22	224	59	.	.	PUNCT
gujaf-22	225	1	on	on	ADP
gujaf-22	225	2	the	the	DET
gujaf-22	225	3	whole	whole	NOUN
gujaf-22	225	4	,	,	PUNCT
gujaf-22	225	5	the	the	DET
gujaf-22	225	6	series	series	NOUN
gujaf-22	225	7	of	of	ADP
gujaf-22	225	8	pre	pre	ADJ
gujaf-22	225	9	-	-	ADJ
gujaf-22	225	10	announcement	announcement	ADJ
gujaf-22	225	11	abnormal	abnormal	ADJ
gujaf-22	225	12	return	return	NOUN
gujaf-22	225	13	and	and	CCONJ
gujaf-22	225	14	cumulative	cumulative	ADJ
gujaf-22	225	15	abnormal	abnormal	ADJ
gujaf-22	225	16	return	return	NOUN
gujaf-22	225	17	both	both	PRON
gujaf-22	225	18	failed	fail	VERB
gujaf-22	225	19	to	to	PART
gujaf-22	225	20	reject	reject	VERB
gujaf-22	225	21	jarque	jarque	NOUN
gujaf-22	225	22	-	-	PUNCT
gujaf-22	225	23	bera	bera	NOUN
gujaf-22	225	24	’s	’s	PART
gujaf-22	225	25	null	null	ADJ
gujaf-22	225	26	hypothesis	hypothesis	NOUN
gujaf-22	225	27	of	of	ADP
gujaf-22	225	28	normality	normality	NOUN
gujaf-22	225	29	.	.	PUNCT
gujaf-22	226	1	this	this	PRON
gujaf-22	226	2	implies	imply	VERB
gujaf-22	226	3	that	that	SCONJ
gujaf-22	226	4	the	the	DET
gujaf-22	226	5	series	serie	NOUN
gujaf-22	226	6	are	be	AUX
gujaf-22	226	7	normally	normally	ADV
gujaf-22	226	8	distributed	distribute	VERB
gujaf-22	226	9	.	.	PUNCT
gujaf-22	227	1	the	the	DET
gujaf-22	227	2	evidence	evidence	NOUN
gujaf-22	227	3	of	of	ADP
gujaf-22	227	4	normality	normality	NOUN
gujaf-22	227	5	is	be	AUX
gujaf-22	227	6	important	important	ADJ
gujaf-22	227	7	to	to	ADP
gujaf-22	227	8	this	this	DET
gujaf-22	227	9	paper	paper	NOUN
gujaf-22	227	10	as	as	SCONJ
gujaf-22	227	11	it	it	PRON
gujaf-22	227	12	is	be	AUX
gujaf-22	227	13	a	a	DET
gujaf-22	227	14	fundamental	fundamental	ADJ
gujaf-22	227	15	requirement	requirement	NOUN
gujaf-22	227	16	for	for	ADP
gujaf-22	227	17	the	the	DET
gujaf-22	227	18	application	application	NOUN
gujaf-22	227	19	of	of	ADP
gujaf-22	227	20	t	t	PROPN
gujaf-22	227	21	-	-	PUNCT
gujaf-22	227	22	test	test	NOUN
gujaf-22	227	23	of	of	ADP
gujaf-22	227	24	significance	significance	NOUN
gujaf-22	227	25	.	.	PUNCT
gujaf-22	228	1	on	on	ADP
gujaf-22	228	2	the	the	DET
gujaf-22	228	3	other	other	ADJ
gujaf-22	228	4	hand	hand	NOUN
gujaf-22	228	5	,	,	PUNCT
gujaf-22	228	6	panel	panel	NOUN
gujaf-22	228	7	b	b	PROPN
gujaf-22	228	8	of	of	ADP
gujaf-22	228	9	table	table	NOUN
gujaf-22	228	10	1	1	NUM
gujaf-22	228	11	shows	show	VERB
gujaf-22	228	12	that	that	SCONJ
gujaf-22	228	13	the	the	DET
gujaf-22	228	14	mean	mean	ADJ
gujaf-22	228	15	abnormal	abnormal	ADJ
gujaf-22	228	16	return	return	NOUN
gujaf-22	228	17	and	and	CCONJ
gujaf-22	228	18	cumulative	cumulative	ADJ
gujaf-22	228	19	abnormal	abnormal	ADJ
gujaf-22	228	20	return	return	NOUN
gujaf-22	228	21	in	in	ADP
gujaf-22	228	22	the	the	DET
gujaf-22	228	23	post	post	ADJ
gujaf-22	228	24	-	-	ADJ
gujaf-22	228	25	automation	automation	ADJ
gujaf-22	228	26	period	period	NOUN
gujaf-22	228	27	seo	seo	NOUN
gujaf-22	228	28	announcements	announcement	NOUN
gujaf-22	228	29	were	be	AUX
gujaf-22	228	30	both	both	ADV
gujaf-22	228	31	negative	negative	ADJ
gujaf-22	228	32	,	,	PUNCT
gujaf-22	228	33	supporting	support	VERB
gujaf-22	228	34	the	the	DET
gujaf-22	228	35	theoretical	theoretical	ADJ
gujaf-22	228	36	assertions	assertion	NOUN
gujaf-22	228	37	that	that	SCONJ
gujaf-22	228	38	seo	seo	NOUN
gujaf-22	228	39	announcements	announcement	NOUN
gujaf-22	228	40	are	be	AUX
gujaf-22	228	41	meted	mete	VERB
gujaf-22	228	42	with	with	ADP
gujaf-22	228	43	negative	negative	ADJ
gujaf-22	228	44	market	market	NOUN
gujaf-22	228	45	reaction	reaction	NOUN
gujaf-22	228	46	.	.	PUNCT
gujaf-22	229	1	like	like	INTJ
gujaf-22	229	2	in	in	ADP
gujaf-22	229	3	the	the	DET
gujaf-22	229	4	pre	pre	ADJ
gujaf-22	229	5	-	-	NOUN
gujaf-22	229	6	automation	automation	ADJ
gujaf-22	229	7	period	period	NOUN
gujaf-22	229	8	,	,	PUNCT
gujaf-22	229	9	the	the	DET
gujaf-22	229	10	standard	standard	ADJ
gujaf-22	229	11	deviation	deviation	NOUN
gujaf-22	229	12	,	,	PUNCT
gujaf-22	229	13	minimum	minimum	ADJ
gujaf-22	229	14	and	and	CCONJ
gujaf-22	229	15	maximum	maximum	ADJ
gujaf-22	229	16	values	value	NOUN
gujaf-22	229	17	of	of	ADP
gujaf-22	229	18	abnormal	abnormal	ADJ
gujaf-22	229	19	return	return	NOUN
gujaf-22	229	20	and	and	CCONJ
gujaf-22	229	21	cumulative	cumulative	ADJ
gujaf-22	229	22	abnormal	abnormal	ADJ
gujaf-22	229	23	return	return	NOUN
gujaf-22	229	24	all	all	PRON
gujaf-22	229	25	support	support	VERB
gujaf-22	229	26	the	the	DET
gujaf-22	229	27	presence	presence	NOUN
gujaf-22	229	28	of	of	ADP
gujaf-22	229	29	slight	slight	ADJ
gujaf-22	229	30	deviation	deviation	NOUN
gujaf-22	229	31	and	and	CCONJ
gujaf-22	229	32	variation	variation	NOUN
gujaf-22	229	33	around	around	ADP
gujaf-22	229	34	the	the	DET
gujaf-22	229	35	mean	mean	NOUN
gujaf-22	229	36	.	.	PUNCT
gujaf-22	230	1	it	it	PRON
gujaf-22	230	2	can	can	AUX
gujaf-22	230	3	also	also	ADV
gujaf-22	230	4	be	be	AUX
gujaf-22	230	5	seen	see	VERB
gujaf-22	230	6	from	from	ADP
gujaf-22	230	7	the	the	DET
gujaf-22	230	8	panel	panel	NOUN
gujaf-22	230	9	that	that	SCONJ
gujaf-22	230	10	while	while	SCONJ
gujaf-22	230	11	the	the	DET
gujaf-22	230	12	postannouncement	postannouncement	ADJ
gujaf-22	230	13	abnormal	abnormal	ADJ
gujaf-22	230	14	return	return	NOUN
gujaf-22	230	15	series	series	NOUN
gujaf-22	230	16	is	be	AUX
gujaf-22	230	17	negatively	negatively	ADV
gujaf-22	230	18	skewed	skewed	ADJ
gujaf-22	230	19	,	,	PUNCT
gujaf-22	230	20	the	the	DET
gujaf-22	230	21	cumulative	cumulative	ADJ
gujaf-22	230	22	abnormal	abnormal	ADJ
gujaf-22	230	23	return	return	NOUN
gujaf-22	230	24	series	series	NOUN
gujaf-22	230	25	is	be	AUX
gujaf-22	230	26	positively	positively	ADV
gujaf-22	230	27	skewed	skewed	ADJ
gujaf-22	230	28	.	.	PUNCT
gujaf-22	231	1	the	the	DET
gujaf-22	231	2	panel	panel	NOUN
gujaf-22	231	3	also	also	ADV
gujaf-22	231	4	depicts	depict	VERB
gujaf-22	231	5	slight	slight	ADJ
gujaf-22	231	6	leptokurtosis	leptokurtosis	NOUN
gujaf-22	231	7	for	for	ADP
gujaf-22	231	8	the	the	DET
gujaf-22	231	9	post	post	ADJ
gujaf-22	231	10	-	-	ADJ
gujaf-22	231	11	automation	automation	ADJ
gujaf-22	231	12	abnormal	abnormal	ADJ
gujaf-22	231	13	return	return	NOUN
gujaf-22	231	14	series	series	NOUN
gujaf-22	231	15	and	and	CCONJ
gujaf-22	231	16	platykurtosis	platykurtosis	NOUN
gujaf-22	231	17	for	for	ADP
gujaf-22	231	18	the	the	DET
gujaf-22	231	19	cumulative	cumulative	ADJ
gujaf-22	231	20	abnormal	abnormal	ADJ
gujaf-22	231	21	return	return	NOUN
gujaf-22	231	22	series	series	NOUN
gujaf-22	231	23	.	.	PUNCT
gujaf-22	232	1	in	in	ADP
gujaf-22	232	2	addition	addition	NOUN
gujaf-22	232	3	,	,	PUNCT
gujaf-22	232	4	the	the	DET
gujaf-22	232	5	insignificance	insignificance	NOUN
gujaf-22	232	6	of	of	ADP
gujaf-22	232	7	jarquebera	jarquebera	PROPN
gujaf-22	232	8	statistics	statistic	NOUN
gujaf-22	232	9	for	for	ADP
gujaf-22	232	10	both	both	CCONJ
gujaf-22	232	11	the	the	DET
gujaf-22	232	12	post	post	ADJ
gujaf-22	232	13	-	-	ADJ
gujaf-22	232	14	automation	automation	ADJ
gujaf-22	232	15	abnormal	abnormal	ADJ
gujaf-22	232	16	return	return	NOUN
gujaf-22	232	17	and	and	CCONJ
gujaf-22	232	18	cumulative	cumulative	ADJ
gujaf-22	232	19	abnormal	abnormal	ADJ
gujaf-22	232	20	return	return	NOUN
gujaf-22	232	21	series	series	NOUN
gujaf-22	232	22	is	be	AUX
gujaf-22	232	23	an	an	DET
gujaf-22	232	24	indication	indication	NOUN
gujaf-22	232	25	that	that	SCONJ
gujaf-22	232	26	the	the	DET
gujaf-22	232	27	series	serie	NOUN
gujaf-22	232	28	are	be	AUX
gujaf-22	232	29	normally	normally	ADV
gujaf-22	232	30	distributed	distribute	VERB
gujaf-22	232	31	.	.	PUNCT
gujaf-22	233	1	gujaf	gujaf	NOUN
gujaf-22	233	2	:	:	PUNCT
gujaf-22	233	3	gusau	gusau	PROPN
gujaf-22	233	4	journal	journal	NOUN
gujaf-22	233	5	of	of	ADP
gujaf-22	233	6	accounting	accounting	NOUN
gujaf-22	233	7	and	and	CCONJ
gujaf-22	233	8	finance	finance	NOUN
gujaf-22	233	9	,	,	PUNCT
gujaf-22	233	10	vol	vol	NOUN
gujaf-22	233	11	.	.	PUNCT
gujaf-22	234	1	i	i	PRON
gujaf-22	234	2	,	,	PUNCT
gujaf-22	234	3	issue	issue	NOUN
gujaf-22	234	4	1	1	NUM
gujaf-22	234	5	,	,	PUNCT
gujaf-22	234	6	april	april	PROPN
gujaf-22	234	7	,	,	PUNCT
gujaf-22	234	8	2020	2020	NUM
gujaf-22	234	9	issn	issn	VERB
gujaf-22	234	10	2756	2756	NUM
gujaf-22	234	11	-	-	PUNCT
gujaf-22	234	12	665x	665x	NOUN
gujaf-22	234	13	15	15	NUM
gujaf-22	234	14	the	the	DET
gujaf-22	234	15	evidence	evidence	NOUN
gujaf-22	234	16	of	of	ADP
gujaf-22	234	17	normality	normality	NOUN
gujaf-22	234	18	for	for	ADP
gujaf-22	234	19	the	the	DET
gujaf-22	234	20	abnormal	abnormal	ADJ
gujaf-22	234	21	return	return	NOUN
gujaf-22	234	22	and	and	CCONJ
gujaf-22	234	23	cumulative	cumulative	ADJ
gujaf-22	234	24	abnormal	abnormal	ADJ
gujaf-22	234	25	return	return	NOUN
gujaf-22	234	26	series	series	NOUN
gujaf-22	234	27	in	in	ADP
gujaf-22	234	28	both	both	CCONJ
gujaf-22	234	29	the	the	DET
gujaf-22	234	30	pre	pre	NOUN
gujaf-22	234	31	-	-	NOUN
gujaf-22	234	32	automation	automation	NOUN
gujaf-22	234	33	and	and	CCONJ
gujaf-22	234	34	post	post	ADJ
gujaf-22	234	35	-	-	ADJ
gujaf-22	234	36	automation	automation	ADJ
gujaf-22	234	37	periods	period	NOUN
gujaf-22	234	38	contradicts	contradict	VERB
gujaf-22	234	39	finance	finance	NOUN
gujaf-22	234	40	theory	theory	NOUN
gujaf-22	234	41	regarding	regard	VERB
gujaf-22	234	42	the	the	DET
gujaf-22	234	43	distributional	distributional	ADJ
gujaf-22	234	44	characteristics	characteristic	NOUN
gujaf-22	234	45	of	of	ADP
gujaf-22	234	46	financial	financial	ADJ
gujaf-22	234	47	asset	asset	NOUN
gujaf-22	234	48	returns	return	NOUN
gujaf-22	234	49	.	.	PUNCT
gujaf-22	235	1	according	accord	VERB
gujaf-22	235	2	to	to	ADP
gujaf-22	235	3	greene	greene	PROPN
gujaf-22	235	4	(	(	PUNCT
gujaf-22	235	5	2003	2003	NUM
gujaf-22	235	6	)	)	PUNCT
gujaf-22	235	7	,	,	PUNCT
gujaf-22	235	8	gujarati	gujarati	PROPN
gujaf-22	235	9	(	(	PUNCT
gujaf-22	235	10	2004	2004	NUM
gujaf-22	235	11	)	)	PUNCT
gujaf-22	235	12	and	and	CCONJ
gujaf-22	235	13	brooks	brooks	PROPN
gujaf-22	235	14	(	(	PUNCT
gujaf-22	235	15	2008	2008	NUM
gujaf-22	235	16	)	)	PUNCT
gujaf-22	235	17	,	,	PUNCT
gujaf-22	235	18	financial	financial	ADJ
gujaf-22	235	19	asset	asset	NOUN
gujaf-22	235	20	returns	return	NOUN
gujaf-22	235	21	exhibit	exhibit	VERB
gujaf-22	235	22	leptokurtosis	leptokurtosis	NOUN
gujaf-22	235	23	and	and	CCONJ
gujaf-22	235	24	fat	fat	ADJ
gujaf-22	235	25	tails	tail	NOUN
gujaf-22	235	26	,	,	PUNCT
gujaf-22	235	27	and	and	CCONJ
gujaf-22	235	28	therefore	therefore	ADV
gujaf-22	235	29	;	;	PUNCT
gujaf-22	235	30	this	this	DET
gujaf-22	235	31	distributional	distributional	ADJ
gujaf-22	235	32	features	feature	NOUN
gujaf-22	235	33	make	make	VERB
gujaf-22	235	34	their	their	PRON
gujaf-22	235	35	distribution	distribution	NOUN
gujaf-22	235	36	anything	anything	PRON
gujaf-22	235	37	but	but	CCONJ
gujaf-22	235	38	normal	normal	ADJ
gujaf-22	235	39	.	.	PUNCT
gujaf-22	236	1	the	the	DET
gujaf-22	236	2	paper	paper	NOUN
gujaf-22	236	3	then	then	ADV
gujaf-22	236	4	compiled	compile	VERB
gujaf-22	236	5	the	the	DET
gujaf-22	236	6	abnormal	abnormal	ADJ
gujaf-22	236	7	return	return	NOUN
gujaf-22	236	8	and	and	CCONJ
gujaf-22	236	9	cumulative	cumulative	ADJ
gujaf-22	236	10	abnormal	abnormal	ADJ
gujaf-22	236	11	return	return	NOUN
gujaf-22	236	12	arising	arise	VERB
gujaf-22	236	13	from	from	ADP
gujaf-22	236	14	seo	seo	NOUN
gujaf-22	236	15	announcements	announcement	NOUN
gujaf-22	236	16	for	for	ADP
gujaf-22	236	17	the	the	DET
gujaf-22	236	18	pre	pre	NOUN
gujaf-22	236	19	-	-	NOUN
gujaf-22	236	20	automation	automation	NOUN
gujaf-22	236	21	and	and	CCONJ
gujaf-22	236	22	post	post	ADJ
gujaf-22	236	23	-	-	ADJ
gujaf-22	236	24	automation	automation	ADJ
gujaf-22	236	25	periods	period	NOUN
gujaf-22	236	26	.	.	PUNCT
gujaf-22	237	1	table	table	NOUN
gujaf-22	237	2	2	2	NUM
gujaf-22	237	3	presents	present	VERB
gujaf-22	237	4	the	the	DET
gujaf-22	237	5	event	event	NOUN
gujaf-22	237	6	window	window	NOUN
gujaf-22	237	7	pre	pre	NOUN
gujaf-22	237	8	-	-	NOUN
gujaf-22	237	9	automation	automation	NOUN
gujaf-22	237	10	and	and	CCONJ
gujaf-22	237	11	post	post	ADJ
gujaf-22	237	12	-	-	ADJ
gujaf-22	237	13	automation	automation	ADJ
gujaf-22	237	14	periods	period	NOUN
gujaf-22	237	15	abnormal	abnormal	ADJ
gujaf-22	237	16	returns	return	NOUN
gujaf-22	237	17	,	,	PUNCT
gujaf-22	237	18	cumulative	cumulative	ADJ
gujaf-22	237	19	abnormal	abnormal	ADJ
gujaf-22	237	20	returns	return	NOUN
gujaf-22	237	21	as	as	ADV
gujaf-22	237	22	well	well	ADV
gujaf-22	237	23	as	as	ADP
gujaf-22	237	24	their	their	PRON
gujaf-22	237	25	corresponding	corresponding	ADJ
gujaf-22	237	26	t	t	PROPN
gujaf-22	237	27	-	-	PUNCT
gujaf-22	237	28	statistics	statistic	NOUN
gujaf-22	237	29	and	and	CCONJ
gujaf-22	237	30	levels	level	NOUN
gujaf-22	237	31	of	of	ADP
gujaf-22	237	32	significance	significance	NOUN
gujaf-22	237	33	.	.	PUNCT
gujaf-22	238	1	the	the	DET
gujaf-22	238	2	pre	pre	ADJ
gujaf-22	238	3	-	-	ADJ
gujaf-22	238	4	automation	automation	ADJ
gujaf-22	238	5	estimation	estimation	NOUN
gujaf-22	238	6	window	window	NOUN
gujaf-22	238	7	standard	standard	ADJ
gujaf-22	238	8	deviation	deviation	NOUN
gujaf-22	238	9	was	be	AUX
gujaf-22	238	10	0.0125	0.0125	NUM
gujaf-22	238	11	,	,	PUNCT
gujaf-22	238	12	while	while	SCONJ
gujaf-22	238	13	the	the	DET
gujaf-22	238	14	post	post	ADJ
gujaf-22	238	15	-	-	ADJ
gujaf-22	238	16	automation	automation	ADJ
gujaf-22	238	17	estimation	estimation	NOUN
gujaf-22	238	18	window	window	NOUN
gujaf-22	238	19	standard	standard	ADJ
gujaf-22	238	20	deviation	deviation	NOUN
gujaf-22	238	21	was	be	AUX
gujaf-22	238	22	0.0101	0.0101	NUM
gujaf-22	238	23	.	.	PUNCT
gujaf-22	238	24	table	table	NOUN
gujaf-22	238	25	2	2	NUM
gujaf-22	238	26	:	:	PUNCT
gujaf-22	238	27	event	event	NOUN
gujaf-22	238	28	window	window	NOUN
gujaf-22	238	29	effect	effect	NOUN
gujaf-22	238	30	of	of	ADP
gujaf-22	238	31	seo	seo	NOUN
gujaf-22	238	32	announcements	announcement	NOUN
gujaf-22	238	33	in	in	ADP
gujaf-22	238	34	nigeria	nigeria	PROPN
gujaf-22	238	35	pre	pre	ADJ
gujaf-22	238	36	-	-	NOUN
gujaf-22	238	37	automation	automation	ADJ
gujaf-22	238	38	period	period	NOUN
gujaf-22	238	39	return	return	NOUN
gujaf-22	238	40	(	(	PUNCT
gujaf-22	238	41	%	%	INTJ
gujaf-22	238	42	)	)	PUNCT
gujaf-22	238	43	post	post	ADJ
gujaf-22	238	44	-	-	ADJ
gujaf-22	238	45	automation	automation	ADJ
gujaf-22	238	46	period	period	NOUN
gujaf-22	238	47	return	return	NOUN
gujaf-22	238	48	(	(	PUNCT
gujaf-22	238	49	%	%	NOUN
gujaf-22	238	50	)	)	PUNCT
gujaf-22	238	51	day	day	NOUN
gujaf-22	238	52	ar	ar	PROPN
gujaf-22	238	53	t(ar	t(ar	PROPN
gujaf-22	238	54	)	)	PUNCT
gujaf-22	238	55	car	car	NOUN
gujaf-22	238	56	t(car	t(car	NOUN
gujaf-22	238	57	)	)	PUNCT
gujaf-22	238	58	ar	ar	NOUN
gujaf-22	238	59	t(ar	t(ar	PROPN
gujaf-22	238	60	)	)	PUNCT
gujaf-22	238	61	car	car	NOUN
gujaf-22	238	62	t(car	t(car	NOUN
gujaf-22	238	63	)	)	PUNCT
gujaf-22	238	64	-15	-15	NUM
gujaf-22	239	1	0.00	0.00	NUM
gujaf-22	239	2	0.00	0.00	NUM
gujaf-22	239	3	0.00	0.00	NUM
gujaf-22	239	4	0.00	0.00	NUM
gujaf-22	239	5	-0.86	-0.86	NUM
gujaf-22	239	6	-0.86	-0.86	PUNCT
gujaf-22	239	7	-0.86	-0.86	ADJ
gujaf-22	239	8	-0.86	-0.86	INTJ
gujaf-22	239	9	-14	-14	NUM
gujaf-22	239	10	-1.38	-1.38	NUM
gujaf-22	239	11	-1.10	-1.10	NOUN
gujaf-22	239	12	-1.37	-1.37	NOUN
gujaf-22	239	13	-1.10	-1.10	NOUN
gujaf-22	239	14	0.50	0.50	NUM
gujaf-22	239	15	0.50	0.50	NUM
gujaf-22	239	16	-0.36	-0.36	NUM
gujaf-22	239	17	-0.36	-0.36	PROPN
gujaf-22	239	18	-13	-13	SYM
gujaf-22	239	19	-1.35	-1.35	NUM
gujaf-22	239	20	-1.08	-1.08	PRON
gujaf-22	239	21	-2.72	-2.72	NOUN
gujaf-22	239	22	-2.18	-2.18	NUM
gujaf-22	239	23	*	*	PUNCT
gujaf-22	239	24	*	*	PUNCT
gujaf-22	239	25	1.09	1.09	NUM
gujaf-22	239	26	1.08	1.08	NUM
gujaf-22	239	27	0.72	0.72	NUM
gujaf-22	239	28	0.72	0.72	NUM
gujaf-22	239	29	-12	-12	PUNCT
gujaf-22	239	30	-2.19	-2.19	CCONJ
gujaf-22	240	1	-1.75	-1.75	NUM
gujaf-22	240	2	*	*	NOUN
gujaf-22	240	3	-4.91	-4.91	NUM
gujaf-22	240	4	-3.93	-3.93	NOUN
gujaf-22	240	5	*	*	PUNCT
gujaf-22	240	6	*	*	PUNCT
gujaf-22	240	7	*	*	PUNCT
gujaf-22	240	8	1.71	1.71	NUM
gujaf-22	240	9	1.69	1.69	NUM
gujaf-22	240	10	2.43	2.43	NUM
gujaf-22	240	11	2.41	2.41	NUM
gujaf-22	240	12	*	*	PUNCT
gujaf-22	240	13	*	*	PUNCT
gujaf-22	240	14	-11	-11	PUNCT
gujaf-22	240	15	-0.92	-0.92	PUNCT
gujaf-22	240	16	-0.74	-0.74	VERB
gujaf-22	240	17	-5.83	-5.83	PROPN
gujaf-22	240	18	-4.67	-4.67	NOUN
gujaf-22	240	19	*	*	NOUN
gujaf-22	240	20	*	*	PUNCT
gujaf-22	240	21	*	*	PUNCT
gujaf-22	240	22	-0.23	-0.23	PRON
gujaf-22	240	23	-0.22	-0.22	NUM
gujaf-22	240	24	2.21	2.21	NUM
gujaf-22	240	25	2.18	2.18	NUM
gujaf-22	240	26	*	*	NOUN
gujaf-22	240	27	-10	-10	NUM
gujaf-22	240	28	-1.06	-1.06	NOUN
gujaf-22	240	29	-0.85	-0.85	NOUN
gujaf-22	240	30	-6.89	-6.89	NOUN
gujaf-22	240	31	-5.51	-5.51	NOUN
gujaf-22	240	32	*	*	PUNCT
gujaf-22	240	33	*	*	PUNCT
gujaf-22	240	34	*	*	PUNCT
gujaf-22	240	35	2.08	2.08	NUM
gujaf-22	240	36	2.06	2.06	NUM
gujaf-22	240	37	*	*	NOUN
gujaf-22	240	38	4.29	4.29	NUM
gujaf-22	240	39	4.25	4.25	NUM
gujaf-22	240	40	*	*	PUNCT
gujaf-22	240	41	*	*	PUNCT
gujaf-22	240	42	*	*	PUNCT
gujaf-22	240	43	-9	-9	INTJ
gujaf-22	240	44	-1.68	-1.68	NUM
gujaf-22	240	45	-1.34	-1.34	PROPN
gujaf-22	240	46	-8.57	-8.57	NUM
gujaf-22	240	47	-6.86	-6.86	NOUN
gujaf-22	240	48	*	*	PUNCT
gujaf-22	240	49	*	*	PUNCT
gujaf-22	240	50	*	*	PUNCT
gujaf-22	240	51	-4.37	-4.37	PRON
gujaf-22	240	52	-4.33	-4.33	NOUN
gujaf-22	240	53	*	*	NOUN
gujaf-22	240	54	*	*	PUNCT
gujaf-22	240	55	*	*	NOUN
gujaf-22	240	56	-0.08	-0.08	DET
gujaf-22	240	57	-0.08	-0.08	NUM
gujaf-22	240	58	-8	-8	NUM
gujaf-22	240	59	1.61	1.61	NUM
gujaf-22	240	60	1.29	1.29	NUM
gujaf-22	240	61	-6.96	-6.96	NOUN
gujaf-22	240	62	-5.57	-5.57	PROPN
gujaf-22	240	63	*	*	PUNCT
gujaf-22	240	64	*	*	PUNCT
gujaf-22	240	65	*	*	PUNCT
gujaf-22	240	66	-0.62	-0.62	NUM
gujaf-22	240	67	-0.62	-0.62	PRON
gujaf-22	240	68	-0.71	-0.71	ADJ
gujaf-22	240	69	-0.70	-0.70	NUM
gujaf-22	240	70	-7	-7	NOUN
gujaf-22	240	71	-1.39	-1.39	X
gujaf-22	240	72	-1.11	-1.11	PRON
gujaf-22	240	73	-8.35	-8.35	NOUN
gujaf-22	240	74	-6.68	-6.68	NOUN
gujaf-22	240	75	*	*	PUNCT
gujaf-22	240	76	*	*	PUNCT
gujaf-22	240	77	*	*	PUNCT
gujaf-22	240	78	-2.14	-2.14	PRON
gujaf-22	240	79	-2.12	-2.12	NOUN
gujaf-22	240	80	*	*	X
gujaf-22	240	81	-2.85	-2.85	NUM
gujaf-22	240	82	-2.82	-2.82	NOUN
gujaf-22	240	83	*	*	PUNCT
gujaf-22	240	84	*	*	PUNCT
gujaf-22	240	85	*	*	PUNCT
gujaf-22	241	1	-6	-6	NUM
gujaf-22	241	2	0.25	0.25	NUM
gujaf-22	241	3	0.20	0.20	NUM
gujaf-22	241	4	-8.10	-8.10	PRON
gujaf-22	241	5	-6.48	-6.48	NOUN
gujaf-22	241	6	*	*	NOUN
gujaf-22	241	7	*	*	PUNCT
gujaf-22	241	8	*	*	PUNCT
gujaf-22	241	9	0.21	0.21	NUM
gujaf-22	241	10	0.21	0.21	NUM
gujaf-22	241	11	-2.64	-2.64	NUM
gujaf-22	241	12	-2.61	-2.61	NOUN
gujaf-22	241	13	*	*	PROPN
gujaf-22	241	14	*	*	PUNCT
gujaf-22	241	15	-5	-5	PRON
gujaf-22	241	16	-0.93	-0.93	INTJ
gujaf-22	241	17	-0.74	-0.74	ADJ
gujaf-22	241	18	-9.03	-9.03	ADJ
gujaf-22	241	19	-7.22	-7.22	NOUN
gujaf-22	241	20	*	*	NOUN
gujaf-22	241	21	*	*	PUNCT
gujaf-22	241	22	*	*	PUNCT
gujaf-22	241	23	-1.85	-1.85	PUNCT
gujaf-22	241	24	-1.83	-1.83	NUM
gujaf-22	241	25	*	*	PUNCT
gujaf-22	241	26	-4.49	-4.49	NUM
gujaf-22	241	27	-4.44	-4.44	NOUN
gujaf-22	241	28	*	*	PUNCT
gujaf-22	241	29	*	*	PUNCT
gujaf-22	241	30	*	*	PUNCT
gujaf-22	241	31	-4	-4	INTJ
gujaf-22	241	32	0.25	0.25	NUM
gujaf-22	241	33	0.20	0.20	NUM
gujaf-22	241	34	-8.77	-8.77	NUM
gujaf-22	241	35	-7.02	-7.02	ADJ
gujaf-22	241	36	*	*	PUNCT
gujaf-22	241	37	*	*	PUNCT
gujaf-22	241	38	*	*	NOUN
gujaf-22	241	39	0.26	0.26	NUM
gujaf-22	241	40	0.25	0.25	NUM
gujaf-22	241	41	-4.23	-4.23	NOUN
gujaf-22	241	42	-4.19	-4.19	NOUN
gujaf-22	241	43	*	*	NOUN
gujaf-22	241	44	*	*	PUNCT
gujaf-22	241	45	*	*	PUNCT
gujaf-22	241	46	-3	-3	INTJ
gujaf-22	241	47	-1.12	-1.12	NUM
gujaf-22	241	48	-0.89	-0.89	PROPN
gujaf-22	241	49	-9.89	-9.89	NUM
gujaf-22	241	50	-7.91	-7.91	NOUN
gujaf-22	241	51	*	*	PUNCT
gujaf-22	241	52	*	*	PUNCT
gujaf-22	241	53	*	*	PUNCT
gujaf-22	241	54	-0.14	-0.14	PRON
gujaf-22	241	55	-0.14	-0.14	PRON
gujaf-22	241	56	-4.37	-4.37	NUM
gujaf-22	241	57	-4.32	-4.32	NOUN
gujaf-22	241	58	*	*	NOUN
gujaf-22	241	59	*	*	PUNCT
gujaf-22	241	60	*	*	PUNCT
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gujaf-22	242	17	*	*	PUNCT
gujaf-22	242	18	0	0	NUM
gujaf-22	242	19	-3.33	-3.33	NUM
gujaf-22	242	20	-2.67	-2.67	NOUN
gujaf-22	242	21	*	*	PUNCT
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gujaf-22	242	32	*	*	PUNCT
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gujaf-22	242	36	*	*	PUNCT
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gujaf-22	242	38	+1	+1	ADJ
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gujaf-22	242	43	*	*	PUNCT
gujaf-22	242	44	*	*	PUNCT
gujaf-22	242	45	*	*	PUNCT
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gujaf-22	243	2	*	*	PUNCT
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gujaf-22	243	5	+2	+2	PROPN
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gujaf-22	243	7	-1.93	-1.93	PROPN
gujaf-22	243	8	*	*	PUNCT
gujaf-22	243	9	-22.31	-22.31	PUNCT
gujaf-22	243	10	-17.84	-17.84	NOUN
gujaf-22	243	11	*	*	NOUN
gujaf-22	243	12	*	*	PUNCT
gujaf-22	243	13	*	*	PUNCT
gujaf-22	243	14	0.78	0.78	NUM
gujaf-22	243	15	0.77	0.77	NUM
gujaf-22	243	16	-9.30	-9.30	NUM
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gujaf-22	243	18	*	*	PUNCT
gujaf-22	243	19	*	*	PUNCT
gujaf-22	243	20	*	*	PUNCT
gujaf-22	243	21	+3	+3	PROPN
gujaf-22	243	22	0.32	0.32	NUM
gujaf-22	243	23	0.26	0.26	NUM
gujaf-22	243	24	-21.98	-21.98	PROPN
gujaf-22	243	25	-17.59	-17.59	PROPN
gujaf-22	243	26	*	*	PUNCT
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gujaf-22	243	30	-0.07	-0.07	INTJ
gujaf-22	243	31	-9.36	-9.36	X
gujaf-22	243	32	-9.27	-9.27	NOUN
gujaf-22	243	33	*	*	PUNCT
gujaf-22	243	34	*	*	PROPN
gujaf-22	243	35	*	*	PUNCT
gujaf-22	243	36	+4	+4	NOUN
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gujaf-22	243	38	-0.24	-0.24	ADJ
gujaf-22	243	39	-22.28	-22.28	PUNCT
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gujaf-22	243	41	*	*	PUNCT
gujaf-22	243	42	*	*	PUNCT
gujaf-22	243	43	*	*	PUNCT
gujaf-22	243	44	0.02	0.02	NUM
gujaf-22	243	45	0.02	0.02	NUM
gujaf-22	243	46	-9.35	-9.35	NOUN
gujaf-22	243	47	-9.25	-9.25	NOUN
gujaf-22	243	48	*	*	NOUN
gujaf-22	243	49	*	*	PUNCT
gujaf-22	243	50	*	*	PUNCT
gujaf-22	243	51	+5	+5	NOUN
gujaf-22	243	52	0.35	0.35	NUM
gujaf-22	243	53	0.28	0.28	NUM
gujaf-22	243	54	-21.93	-21.93	INTJ
gujaf-22	243	55	-17.55	-17.55	PUNCT
gujaf-22	243	56	*	*	NOUN
gujaf-22	243	57	*	*	PUNCT
gujaf-22	243	58	*	*	PUNCT
gujaf-22	243	59	-3.69	-3.69	NUM
gujaf-22	243	60	-3.65	-3.65	PROPN
gujaf-22	243	61	*	*	PUNCT
gujaf-22	243	62	*	*	PUNCT
gujaf-22	243	63	*	*	PUNCT
gujaf-22	243	64	-13.03	-13.03	ADJ
gujaf-22	243	65	-12.90	-12.90	NOUN
gujaf-22	243	66	*	*	PUNCT
gujaf-22	243	67	*	*	PUNCT
gujaf-22	243	68	*	*	PUNCT
gujaf-22	244	1	+6	+6	PROPN
gujaf-22	244	2	0.38	0.38	NUM
gujaf-22	244	3	0.30	0.30	NUM
gujaf-22	244	4	-21.56	-21.56	PUNCT
gujaf-22	244	5	-17.25	-17.25	PROPN
gujaf-22	244	6	*	*	PROPN
gujaf-22	244	7	*	*	PUNCT
gujaf-22	244	8	*	*	PUNCT
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gujaf-22	244	10	-0.30	-0.30	NOUN
gujaf-22	244	11	-13.34	-13.34	PUNCT
gujaf-22	244	12	-13.20	-13.20	PUNCT
gujaf-22	244	13	*	*	PUNCT
gujaf-22	244	14	*	*	PUNCT
gujaf-22	244	15	*	*	PUNCT
gujaf-22	245	1	+7	+7	INTJ
gujaf-22	245	2	0.54	0.54	NUM
gujaf-22	245	3	0.43	0.43	NUM
gujaf-22	245	4	-21.02	-21.02	PUNCT
gujaf-22	245	5	-16.82	-16.82	NOUN
gujaf-22	245	6	*	*	PUNCT
gujaf-22	245	7	*	*	PUNCT
gujaf-22	245	8	*	*	PUNCT
gujaf-22	245	9	0.78	0.78	NUM
gujaf-22	245	10	0.77	0.77	NUM
gujaf-22	245	11	-12.56	-12.56	PUNCT
gujaf-22	245	12	-12.43	-12.43	VERB
gujaf-22	245	13	*	*	PUNCT
gujaf-22	245	14	*	*	PUNCT
gujaf-22	245	15	*	*	NOUN
gujaf-22	245	16	gujaf	gujaf	NOUN
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gujaf-22	245	18	gusau	gusau	PROPN
gujaf-22	245	19	journal	journal	NOUN
gujaf-22	245	20	of	of	ADP
gujaf-22	245	21	accounting	accounting	NOUN
gujaf-22	245	22	and	and	CCONJ
gujaf-22	245	23	finance	finance	NOUN
gujaf-22	245	24	,	,	PUNCT
gujaf-22	245	25	vol	vol	NOUN
gujaf-22	245	26	.	.	PUNCT
gujaf-22	246	1	i	i	PRON
gujaf-22	246	2	,	,	PUNCT
gujaf-22	246	3	issue	issue	NOUN
gujaf-22	246	4	1	1	NUM
gujaf-22	246	5	,	,	PUNCT
gujaf-22	246	6	april	april	PROPN
gujaf-22	246	7	,	,	PUNCT
gujaf-22	246	8	2020	2020	NUM
gujaf-22	246	9	issn	issn	VERB
gujaf-22	246	10	2756	2756	NUM
gujaf-22	246	11	-	-	PUNCT
gujaf-22	246	12	665x	665x	NOUN
gujaf-22	246	13	16	16	NUM
gujaf-22	246	14	+8	+8	NOUN
gujaf-22	246	15	-0.61	-0.61	NOUN
gujaf-22	246	16	-0.49	-0.49	ADP
gujaf-22	246	17	-21.64	-21.64	PROPN
gujaf-22	246	18	-17.31	-17.31	PUNCT
gujaf-22	246	19	*	*	PUNCT
gujaf-22	246	20	*	*	PUNCT
gujaf-22	246	21	*	*	PUNCT
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gujaf-22	246	23	-2.17	-2.17	NOUN
gujaf-22	246	24	*	*	PUNCT
gujaf-22	246	25	*	*	PUNCT
gujaf-22	246	26	-14.74	-14.74	PUNCT
gujaf-22	246	27	-14.60	-14.60	PROPN
gujaf-22	246	28	*	*	PROPN
gujaf-22	246	29	*	*	PUNCT
gujaf-22	246	30	*	*	PUNCT
gujaf-22	247	1	+9	+9	NUM
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gujaf-22	247	5	-17.05	-17.05	NOUN
gujaf-22	247	6	*	*	PUNCT
gujaf-22	247	7	*	*	PUNCT
gujaf-22	247	8	*	*	PUNCT
gujaf-22	247	9	0.66	0.66	NUM
gujaf-22	247	10	0.65	0.65	NUM
gujaf-22	247	11	-14.09	-14.09	PUNCT
gujaf-22	247	12	-13.95	-13.95	PUNCT
gujaf-22	247	13	*	*	PUNCT
gujaf-22	247	14	*	*	PUNCT
gujaf-22	247	15	*	*	PUNCT
gujaf-22	247	16	+10	+10	NUM
gujaf-22	247	17	-0.36	-0.36	NUM
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gujaf-22	247	19	-21.67	-21.67	INTJ
gujaf-22	247	20	-17.33	-17.33	NOUN
gujaf-22	247	21	*	*	NOUN
gujaf-22	247	22	*	*	PUNCT
gujaf-22	247	23	*	*	PUNCT
gujaf-22	247	24	-0.68	-0.68	PROPN
gujaf-22	247	25	-0.67	-0.67	NUM
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gujaf-22	247	28	*	*	NOUN
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gujaf-22	247	30	*	*	PUNCT
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gujaf-22	247	33	1.18	1.18	NUM
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gujaf-22	247	35	-16.15	-16.15	PROPN
gujaf-22	247	36	*	*	PUNCT
gujaf-22	247	37	*	*	PUNCT
gujaf-22	247	38	*	*	PUNCT
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gujaf-22	247	42	*	*	PUNCT
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gujaf-22	247	44	-16.95	-16.95	PUNCT
gujaf-22	247	45	*	*	PUNCT
gujaf-22	247	46	*	*	PUNCT
gujaf-22	247	47	*	*	PUNCT
gujaf-22	247	48	+12	+12	PRON
gujaf-22	247	49	-0.47	-0.47	PRON
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gujaf-22	247	58	*	*	SYM
gujaf-22	247	59	*	*	PUNCT
gujaf-22	247	60	-14.80	-14.80	PUNCT
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gujaf-22	247	64	*	*	PUNCT
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gujaf-22	248	7	*	*	PUNCT
gujaf-22	248	8	*	*	PUNCT
gujaf-22	248	9	0.01	0.01	NUM
gujaf-22	248	10	0.01	0.01	NUM
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gujaf-22	248	22	*	*	PUNCT
gujaf-22	248	23	*	*	PUNCT
gujaf-22	248	24	*	*	PUNCT
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gujaf-22	248	26	0.60	0.60	NUM
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gujaf-22	248	31	*	*	PUNCT
gujaf-22	249	1	+15	+15	NUM
gujaf-22	249	2	0.32	0.32	NUM
gujaf-22	249	3	0.26	0.26	NUM
gujaf-22	249	4	-16.60	-16.60	PROPN
gujaf-22	249	5	-13.28	-13.28	NOUN
gujaf-22	249	6	*	*	PUNCT
gujaf-22	249	7	*	*	PUNCT
gujaf-22	249	8	*	*	PUNCT
gujaf-22	249	9	0.55	0.55	NUM
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gujaf-22	249	14	*	*	PROPN
gujaf-22	249	15	*	*	PROPN
gujaf-22	249	16	source	source	NOUN
gujaf-22	249	17	:	:	PUNCT
gujaf-22	249	18	author	author	NOUN
gujaf-22	249	19	’s	’s	PART
gujaf-22	249	20	compilations	compilation	NOUN
gujaf-22	249	21	from	from	ADP
gujaf-22	249	22	e	e	NOUN
gujaf-22	249	23	-	-	NOUN
gujaf-22	249	24	views	views	ADJ
gujaf-22	249	25	10	10	NUM
gujaf-22	249	26	output	output	NOUN
gujaf-22	249	27	,	,	PUNCT
gujaf-22	249	28	2020	2020	NUM
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gujaf-22	249	30	,	,	PUNCT
gujaf-22	249	31	*	*	PUNCT
gujaf-22	249	32	*	*	PUNCT
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gujaf-22	249	35	*	*	PUNCT
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gujaf-22	249	43	,	,	PUNCT
gujaf-22	249	44	5	5	NUM
gujaf-22	249	45	%	%	NOUN
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gujaf-22	249	47	1	1	NUM
gujaf-22	249	48	%	%	NOUN
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gujaf-22	249	51	.	.	PUNCT
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gujaf-22	250	2	table	table	NOUN
gujaf-22	250	3	2	2	NUM
gujaf-22	250	4	,	,	PUNCT
gujaf-22	250	5	it	it	PRON
gujaf-22	250	6	can	can	AUX
gujaf-22	250	7	be	be	AUX
gujaf-22	250	8	seen	see	VERB
gujaf-22	250	9	that	that	SCONJ
gujaf-22	250	10	the	the	DET
gujaf-22	250	11	pre	pre	NOUN
gujaf-22	250	12	-	-	NOUN
gujaf-22	250	13	automation	automation	ADJ
gujaf-22	250	14	announcement	announcement	NOUN
gujaf-22	250	15	day	day	NOUN
gujaf-22	250	16	abnormal	abnormal	ADJ
gujaf-22	250	17	return	return	NOUN
gujaf-22	250	18	on	on	ADP
gujaf-22	250	19	day	day	NOUN
gujaf-22	250	20	0	0	NUM
gujaf-22	250	21	is	be	AUX
gujaf-22	250	22	negative	negative	ADJ
gujaf-22	250	23	and	and	CCONJ
gujaf-22	250	24	statistically	statistically	ADV
gujaf-22	250	25	significant	significant	ADJ
gujaf-22	250	26	.	.	PUNCT
gujaf-22	251	1	the	the	DET
gujaf-22	251	2	table	table	NOUN
gujaf-22	251	3	also	also	ADV
gujaf-22	251	4	shows	show	VERB
gujaf-22	251	5	that	that	SCONJ
gujaf-22	251	6	the	the	DET
gujaf-22	251	7	corresponding	corresponding	ADJ
gujaf-22	251	8	cumulative	cumulative	ADJ
gujaf-22	251	9	abnormal	abnormal	ADJ
gujaf-22	251	10	return	return	NOUN
gujaf-22	251	11	on	on	ADP
gujaf-22	251	12	the	the	DET
gujaf-22	251	13	announcement	announcement	NOUN
gujaf-22	251	14	day	day	NOUN
gujaf-22	251	15	is	be	AUX
gujaf-22	251	16	negative	negative	ADJ
gujaf-22	251	17	and	and	CCONJ
gujaf-22	251	18	statistically	statistically	ADV
gujaf-22	251	19	significant	significant	ADJ
gujaf-22	251	20	.	.	PUNCT
gujaf-22	252	1	these	these	DET
gujaf-22	252	2	results	result	NOUN
gujaf-22	252	3	indicate	indicate	VERB
gujaf-22	252	4	that	that	SCONJ
gujaf-22	252	5	the	the	DET
gujaf-22	252	6	nigerian	nigerian	ADJ
gujaf-22	252	7	stock	stock	NOUN
gujaf-22	252	8	market	market	NOUN
gujaf-22	252	9	’s	’s	PART
gujaf-22	252	10	reaction	reaction	NOUN
gujaf-22	252	11	to	to	ADP
gujaf-22	252	12	seo	seo	NOUN
gujaf-22	252	13	announcements	announcement	NOUN
gujaf-22	252	14	in	in	ADP
gujaf-22	252	15	the	the	DET
gujaf-22	252	16	period	period	NOUN
gujaf-22	252	17	before	before	ADP
gujaf-22	252	18	automation	automation	NOUN
gujaf-22	252	19	of	of	ADP
gujaf-22	252	20	trading	trading	NOUN
gujaf-22	252	21	platforms	platform	NOUN
gujaf-22	252	22	was	be	AUX
gujaf-22	252	23	negative	negative	ADJ
gujaf-22	252	24	.	.	PUNCT
gujaf-22	253	1	the	the	DET
gujaf-22	253	2	table	table	NOUN
gujaf-22	253	3	further	far	ADV
gujaf-22	253	4	reveals	reveal	VERB
gujaf-22	253	5	that	that	SCONJ
gujaf-22	253	6	almost	almost	ADV
gujaf-22	253	7	all	all	DET
gujaf-22	253	8	the	the	DET
gujaf-22	253	9	pre	pre	ADJ
gujaf-22	253	10	-	-	ADJ
gujaf-22	253	11	automation	automation	ADJ
gujaf-22	253	12	abnormal	abnormal	ADJ
gujaf-22	253	13	returns	return	NOUN
gujaf-22	253	14	and	and	CCONJ
gujaf-22	253	15	cumulative	cumulative	ADJ
gujaf-22	253	16	abnormal	abnormal	ADJ
gujaf-22	253	17	returns	return	NOUN
gujaf-22	253	18	were	be	AUX
gujaf-22	253	19	negative	negative	ADJ
gujaf-22	253	20	,	,	PUNCT
gujaf-22	253	21	cutting	cut	VERB
gujaf-22	253	22	across	across	ADP
gujaf-22	253	23	the	the	DET
gujaf-22	253	24	pre	pre	NOUN
gujaf-22	253	25	-	-	NOUN
gujaf-22	253	26	announcement	announcement	ADJ
gujaf-22	253	27	day	day	NOUN
gujaf-22	253	28	and	and	CCONJ
gujaf-22	253	29	post	post	VERB
gujaf-22	253	30	announcement	announcement	NOUN
gujaf-22	253	31	day	day	NOUN
gujaf-22	253	32	periods	period	NOUN
gujaf-22	253	33	within	within	ADP
gujaf-22	253	34	the	the	DET
gujaf-22	253	35	event	event	NOUN
gujaf-22	253	36	window	window	NOUN
gujaf-22	253	37	.	.	PUNCT
gujaf-22	254	1	the	the	DET
gujaf-22	254	2	second	second	ADJ
gujaf-22	254	3	segment	segment	NOUN
gujaf-22	254	4	of	of	ADP
gujaf-22	254	5	the	the	DET
gujaf-22	254	6	table	table	NOUN
gujaf-22	254	7	shows	show	VERB
gujaf-22	254	8	that	that	SCONJ
gujaf-22	254	9	the	the	DET
gujaf-22	254	10	post	post	ADJ
gujaf-22	254	11	-	-	ADJ
gujaf-22	254	12	automation	automation	ADJ
gujaf-22	254	13	announcement	announcement	NOUN
gujaf-22	254	14	day	day	NOUN
gujaf-22	254	15	abnormal	abnormal	ADJ
gujaf-22	254	16	return	return	NOUN
gujaf-22	254	17	and	and	CCONJ
gujaf-22	254	18	cumulative	cumulative	ADJ
gujaf-22	254	19	abnormal	abnormal	ADJ
gujaf-22	254	20	return	return	NOUN
gujaf-22	254	21	were	be	AUX
gujaf-22	254	22	negative	negative	ADJ
gujaf-22	254	23	and	and	CCONJ
gujaf-22	254	24	significant	significant	ADJ
gujaf-22	254	25	.	.	PUNCT
gujaf-22	255	1	as	as	SCONJ
gujaf-22	255	2	was	be	AUX
gujaf-22	255	3	the	the	DET
gujaf-22	255	4	case	case	NOUN
gujaf-22	255	5	under	under	ADP
gujaf-22	255	6	the	the	DET
gujaf-22	255	7	pre	pre	ADJ
gujaf-22	255	8	-	-	NOUN
gujaf-22	255	9	automation	automation	ADJ
gujaf-22	255	10	period	period	NOUN
gujaf-22	255	11	,	,	PUNCT
gujaf-22	255	12	the	the	DET
gujaf-22	255	13	post	post	ADJ
gujaf-22	255	14	-	-	ADJ
gujaf-22	255	15	announcement	announcement	ADJ
gujaf-22	255	16	abnormal	abnormal	ADJ
gujaf-22	255	17	return	return	NOUN
gujaf-22	255	18	and	and	CCONJ
gujaf-22	255	19	cumulative	cumulative	ADJ
gujaf-22	255	20	abnormal	abnormal	ADJ
gujaf-22	255	21	return	return	NOUN
gujaf-22	255	22	were	be	AUX
gujaf-22	255	23	predominantly	predominantly	ADV
gujaf-22	255	24	negative	negative	ADJ
gujaf-22	255	25	.	.	PUNCT
gujaf-22	256	1	furthermore	furthermore	ADV
gujaf-22	256	2	,	,	PUNCT
gujaf-22	256	3	almost	almost	ADV
gujaf-22	256	4	all	all	DET
gujaf-22	256	5	the	the	DET
gujaf-22	256	6	post	post	ADJ
gujaf-22	256	7	-	-	ADJ
gujaf-22	256	8	automation	automation	ADJ
gujaf-22	256	9	period	period	NOUN
gujaf-22	256	10	cumulative	cumulative	ADJ
gujaf-22	256	11	abnormal	abnormal	ADJ
gujaf-22	256	12	returns	return	NOUN
gujaf-22	256	13	were	be	AUX
gujaf-22	256	14	negative	negative	ADJ
gujaf-22	256	15	and	and	CCONJ
gujaf-22	256	16	strongly	strongly	ADV
gujaf-22	256	17	significant	significant	ADJ
gujaf-22	256	18	.	.	PUNCT
gujaf-22	257	1	however	however	ADV
gujaf-22	257	2	,	,	PUNCT
gujaf-22	257	3	there	there	PRON
gujaf-22	257	4	were	be	VERB
gujaf-22	257	5	more	more	ADV
gujaf-22	257	6	significant	significant	ADJ
gujaf-22	257	7	abnormal	abnormal	ADJ
gujaf-22	257	8	returns	return	NOUN
gujaf-22	257	9	within	within	ADP
gujaf-22	257	10	the	the	DET
gujaf-22	257	11	event	event	NOUN
gujaf-22	257	12	window	window	NOUN
gujaf-22	257	13	for	for	ADP
gujaf-22	257	14	the	the	DET
gujaf-22	257	15	post	post	ADJ
gujaf-22	257	16	-	-	ADJ
gujaf-22	257	17	automation	automation	ADJ
gujaf-22	257	18	period	period	NOUN
gujaf-22	257	19	relative	relative	ADJ
gujaf-22	257	20	to	to	ADP
gujaf-22	257	21	the	the	DET
gujaf-22	257	22	preautomation	preautomation	NOUN
gujaf-22	257	23	period	period	NOUN
gujaf-22	257	24	.	.	PUNCT
gujaf-22	258	1	the	the	DET
gujaf-22	258	2	results	result	NOUN
gujaf-22	258	3	also	also	ADV
gujaf-22	258	4	point	point	VERB
gujaf-22	258	5	strongly	strongly	ADV
gujaf-22	258	6	to	to	ADP
gujaf-22	258	7	the	the	DET
gujaf-22	258	8	fact	fact	NOUN
gujaf-22	258	9	that	that	SCONJ
gujaf-22	258	10	the	the	DET
gujaf-22	258	11	market	market	NOUN
gujaf-22	258	12	recorded	record	VERB
gujaf-22	258	13	negative	negative	ADJ
gujaf-22	258	14	reaction	reaction	NOUN
gujaf-22	258	15	on	on	ADP
gujaf-22	258	16	the	the	DET
gujaf-22	258	17	announcement	announcement	NOUN
gujaf-22	258	18	day	day	NOUN
gujaf-22	258	19	for	for	ADP
gujaf-22	258	20	seos	seo	NOUN
gujaf-22	258	21	in	in	ADP
gujaf-22	258	22	nigeria	nigeria	PROPN
gujaf-22	258	23	.	.	PUNCT
gujaf-22	259	1	in	in	ADP
gujaf-22	259	2	a	a	DET
gujaf-22	259	3	nutshell	nutshell	NOUN
gujaf-22	259	4	,	,	PUNCT
gujaf-22	259	5	table	table	NOUN
gujaf-22	259	6	2	2	NUM
gujaf-22	259	7	shows	show	VERB
gujaf-22	259	8	that	that	SCONJ
gujaf-22	259	9	the	the	DET
gujaf-22	259	10	nigerian	nigerian	ADJ
gujaf-22	259	11	stock	stock	NOUN
gujaf-22	259	12	market	market	NOUN
gujaf-22	259	13	reacted	react	VERB
gujaf-22	259	14	negatively	negatively	ADV
gujaf-22	259	15	to	to	ADP
gujaf-22	259	16	seo	seo	NOUN
gujaf-22	259	17	announcements	announcement	NOUN
gujaf-22	259	18	before	before	ADP
gujaf-22	259	19	and	and	CCONJ
gujaf-22	259	20	after	after	ADP
gujaf-22	259	21	the	the	DET
gujaf-22	259	22	automation	automation	NOUN
gujaf-22	259	23	of	of	ADP
gujaf-22	259	24	trading	trading	NOUN
gujaf-22	259	25	floors	floor	NOUN
gujaf-22	259	26	.	.	PUNCT
gujaf-22	260	1	the	the	DET
gujaf-22	260	2	evidence	evidence	NOUN
gujaf-22	260	3	of	of	ADP
gujaf-22	260	4	negative	negative	ADJ
gujaf-22	260	5	announcement	announcement	NOUN
gujaf-22	260	6	day	day	NOUN
gujaf-22	260	7	reaction	reaction	NOUN
gujaf-22	260	8	of	of	ADP
gujaf-22	260	9	the	the	DET
gujaf-22	260	10	market	market	NOUN
gujaf-22	260	11	to	to	ADP
gujaf-22	260	12	seo	seo	NOUN
gujaf-22	260	13	announcements	announcement	NOUN
gujaf-22	260	14	is	be	AUX
gujaf-22	260	15	in	in	ADP
gujaf-22	260	16	consonance	consonance	NOUN
gujaf-22	260	17	with	with	ADP
gujaf-22	260	18	extant	extant	ADJ
gujaf-22	260	19	theoretical	theoretical	ADJ
gujaf-22	260	20	and	and	CCONJ
gujaf-22	260	21	empirical	empirical	ADJ
gujaf-22	260	22	evidence	evidence	NOUN
gujaf-22	260	23	that	that	PRON
gujaf-22	260	24	markets	market	NOUN
gujaf-22	260	25	experience	experience	VERB
gujaf-22	260	26	adverse	adverse	ADJ
gujaf-22	260	27	effects	effect	NOUN
gujaf-22	260	28	because	because	SCONJ
gujaf-22	260	29	of	of	ADP
gujaf-22	260	30	investors	investor	NOUN
gujaf-22	260	31	’	’	PART
gujaf-22	260	32	perception	perception	NOUN
gujaf-22	260	33	of	of	ADP
gujaf-22	260	34	the	the	DET
gujaf-22	260	35	issuing	issue	VERB
gujaf-22	260	36	firm	firm	NOUN
gujaf-22	260	37	’s	’s	PART
gujaf-22	260	38	stock	stock	NOUN
gujaf-22	260	39	as	as	ADP
gujaf-22	260	40	overvalued	overvalue	VERB
gujaf-22	260	41	.	.	PUNCT
gujaf-22	261	1	thus	thus	ADV
gujaf-22	261	2	,	,	PUNCT
gujaf-22	261	3	the	the	DET
gujaf-22	261	4	result	result	NOUN
gujaf-22	261	5	of	of	ADP
gujaf-22	261	6	negative	negative	ADJ
gujaf-22	261	7	market	market	NOUN
gujaf-22	261	8	reaction	reaction	NOUN
gujaf-22	261	9	is	be	AUX
gujaf-22	261	10	consistent	consistent	ADJ
gujaf-22	261	11	with	with	ADP
gujaf-22	261	12	bhana	bhana	PROPN
gujaf-22	261	13	(	(	PUNCT
gujaf-22	261	14	1998	1998	NUM
gujaf-22	261	15	)	)	PUNCT
gujaf-22	261	16	,	,	PUNCT
gujaf-22	261	17	rasmussen	rasmussen	PROPN
gujaf-22	261	18	(	(	PUNCT
gujaf-22	261	19	2015	2015	NUM
gujaf-22	261	20	)	)	PUNCT
gujaf-22	261	21	,	,	PUNCT
gujaf-22	261	22	hammar	hammar	PROPN
gujaf-22	261	23	and	and	CCONJ
gujaf-22	261	24	perman	perman	NOUN
gujaf-22	261	25	(	(	PUNCT
gujaf-22	261	26	2015	2015	NUM
gujaf-22	261	27	)	)	PUNCT
gujaf-22	261	28	,	,	PUNCT
gujaf-22	261	29	liu	liu	PROPN
gujaf-22	261	30	,	,	PUNCT
gujaf-22	261	31	et	et	PROPN
gujaf-22	261	32	al	al	PROPN
gujaf-22	261	33	.	.	PUNCT
gujaf-22	261	34	gujaf	gujaf	PROPN
gujaf-22	261	35	:	:	PUNCT
gujaf-22	261	36	gusau	gusau	PROPN
gujaf-22	261	37	journal	journal	NOUN
gujaf-22	261	38	of	of	ADP
gujaf-22	261	39	accounting	accounting	NOUN
gujaf-22	261	40	and	and	CCONJ
gujaf-22	261	41	finance	finance	NOUN
gujaf-22	261	42	,	,	PUNCT
gujaf-22	261	43	vol	vol	NOUN
gujaf-22	261	44	.	.	PUNCT
gujaf-22	262	1	i	i	PRON
gujaf-22	262	2	,	,	PUNCT
gujaf-22	262	3	issue	issue	NOUN
gujaf-22	262	4	1	1	NUM
gujaf-22	262	5	,	,	PUNCT
gujaf-22	262	6	april	april	PROPN
gujaf-22	262	7	,	,	PUNCT
gujaf-22	262	8	2020	2020	NUM
gujaf-22	262	9	issn	issn	VERB
gujaf-22	262	10	2756	2756	NUM
gujaf-22	262	11	-	-	PUNCT
gujaf-22	262	12	665x	665x	NOUN
gujaf-22	262	13	17	17	NUM
gujaf-22	262	14	(	(	PUNCT
gujaf-22	262	15	2016	2016	NUM
gujaf-22	262	16	)	)	PUNCT
gujaf-22	262	17	,	,	PUNCT
gujaf-22	262	18	brau	brau	PROPN
gujaf-22	262	19	and	and	CCONJ
gujaf-22	262	20	carpenter	carpenter	PROPN
gujaf-22	262	21	(	(	PUNCT
gujaf-22	262	22	2017	2017	NUM
gujaf-22	262	23	)	)	PUNCT
gujaf-22	262	24	,	,	PUNCT
gujaf-22	262	25	huang	huang	PROPN
gujaf-22	262	26	and	and	CCONJ
gujaf-22	262	27	chiu	chiu	PROPN
gujaf-22	262	28	(	(	PUNCT
gujaf-22	262	29	2017	2017	NUM
gujaf-22	262	30	)	)	PUNCT
gujaf-22	262	31	,	,	PUNCT
gujaf-22	262	32	kumar	kumar	PROPN
gujaf-22	262	33	,	,	PUNCT
gujaf-22	262	34	hawaldar	hawaldar	NOUN
gujaf-22	262	35	and	and	CCONJ
gujaf-22	262	36	mallikarjunappa	mallikarjunappa	NOUN
gujaf-22	262	37	(	(	PUNCT
gujaf-22	262	38	2018	2018	NUM
gujaf-22	262	39	)	)	PUNCT
gujaf-22	262	40	,	,	PUNCT
gujaf-22	262	41	width	width	ADJ
gujaf-22	262	42	and	and	CCONJ
gujaf-22	262	43	arseth	arseth	ADJ
gujaf-22	262	44	(	(	PUNCT
gujaf-22	262	45	2018	2018	NUM
gujaf-22	262	46	)	)	PUNCT
gujaf-22	262	47	and	and	CCONJ
gujaf-22	262	48	ulrich	ulrich	PROPN
gujaf-22	262	49	(	(	PUNCT
gujaf-22	262	50	2018	2018	NUM
gujaf-22	262	51	)	)	PUNCT
gujaf-22	262	52	.	.	PUNCT
gujaf-22	263	1	the	the	DET
gujaf-22	263	2	paper	paper	NOUN
gujaf-22	263	3	also	also	ADV
gujaf-22	263	4	examined	examine	VERB
gujaf-22	263	5	for	for	ADP
gujaf-22	263	6	the	the	DET
gujaf-22	263	7	effect	effect	NOUN
gujaf-22	263	8	of	of	ADP
gujaf-22	263	9	automation	automation	NOUN
gujaf-22	263	10	of	of	ADP
gujaf-22	263	11	the	the	DET
gujaf-22	263	12	nigerian	nigerian	ADJ
gujaf-22	263	13	stock	stock	NOUN
gujaf-22	263	14	market	market	NOUN
gujaf-22	263	15	on	on	ADP
gujaf-22	263	16	the	the	DET
gujaf-22	263	17	market	market	NOUN
gujaf-22	263	18	’s	’s	PART
gujaf-22	263	19	reaction	reaction	NOUN
gujaf-22	263	20	to	to	ADP
gujaf-22	263	21	seos	seo	NOUN
gujaf-22	263	22	.	.	PUNCT
gujaf-22	264	1	to	to	PART
gujaf-22	264	2	achieve	achieve	VERB
gujaf-22	264	3	this	this	PRON
gujaf-22	264	4	,	,	PUNCT
gujaf-22	264	5	the	the	DET
gujaf-22	264	6	paper	paper	NOUN
gujaf-22	264	7	tested	test	VERB
gujaf-22	264	8	for	for	ADP
gujaf-22	264	9	difference	difference	NOUN
gujaf-22	264	10	in	in	ADP
gujaf-22	264	11	market	market	NOUN
gujaf-22	264	12	reaction	reaction	NOUN
gujaf-22	264	13	for	for	ADP
gujaf-22	264	14	seo	seo	NOUN
gujaf-22	264	15	conducted	conduct	VERB
gujaf-22	264	16	before	before	ADP
gujaf-22	264	17	automation	automation	NOUN
gujaf-22	264	18	and	and	CCONJ
gujaf-22	264	19	after	after	ADP
gujaf-22	264	20	it	it	PRON
gujaf-22	264	21	.	.	PUNCT
gujaf-22	265	1	table	table	NOUN
gujaf-22	265	2	3	3	NUM
gujaf-22	265	3	presents	present	NOUN
gujaf-22	265	4	results	result	NOUN
gujaf-22	265	5	of	of	ADP
gujaf-22	265	6	the	the	DET
gujaf-22	265	7	difference	difference	NOUN
gujaf-22	265	8	test	test	NOUN
gujaf-22	265	9	as	as	SCONJ
gujaf-22	265	10	specified	specify	VERB
gujaf-22	265	11	under	under	ADP
gujaf-22	265	12	the	the	DET
gujaf-22	265	13	methodology	methodology	NOUN
gujaf-22	265	14	table	table	NOUN
gujaf-22	265	15	3	3	NUM
gujaf-22	265	16	:	:	PUNCT
gujaf-22	265	17	difference	difference	NOUN
gujaf-22	265	18	test	test	NOUN
gujaf-22	265	19	results	result	NOUN
gujaf-22	265	20	for	for	ADP
gujaf-22	265	21	effect	effect	NOUN
gujaf-22	265	22	of	of	ADP
gujaf-22	265	23	automation	automation	NOUN
gujaf-22	265	24	on	on	ADP
gujaf-22	265	25	seo	seo	NOUN
gujaf-22	265	26	announcements	announcement	NOUN
gujaf-22	265	27	pre	pre	ADJ
gujaf-22	265	28	-	-	NOUN
gujaf-22	265	29	automation	automation	ADJ
gujaf-22	265	30	post	post	ADJ
gujaf-22	265	31	-	-	NOUN
gujaf-22	265	32	automation	automation	ADJ
gujaf-22	265	33	pre	pre	ADJ
gujaf-22	265	34	-	-	ADJ
gujaf-22	265	35	post	post	ADJ
gujaf-22	265	36	mar	mar	PROPN
gujaf-22	265	37	-0.54	-0.54	PROPN
gujaf-22	265	38	-0.44	-0.44	VERB
gujaf-22	265	39	-0.10	-0.10	NUM
gujaf-22	265	40			PROPN
gujaf-22	265	41	1.44	1.44	NUM
gujaf-22	265	42	1.58	1.58	NUM
gujaf-22	265	43	2	2	NUM
gujaf-22	265	44	2.07	2.07	NUM
gujaf-22	265	45	2.50	2.50	NUM
gujaf-22	265	46	postpre	postpre	NUM
gujaf-22	265	47	0.38	0.38	NUM
gujaf-22	265	48	t	t	PROPN
gujaf-22	265	49	-0.26	-0.26	PROPN
gujaf-22	265	50	source	source	NOUN
gujaf-22	265	51	:	:	PUNCT
gujaf-22	265	52	author	author	NOUN
gujaf-22	265	53	’s	’s	PART
gujaf-22	265	54	compilations	compilation	NOUN
gujaf-22	265	55	from	from	ADP
gujaf-22	265	56	e	e	NOUN
gujaf-22	265	57	-	-	NOUN
gujaf-22	265	58	views	views	ADJ
gujaf-22	265	59	10	10	NUM
gujaf-22	265	60	output	output	NOUN
gujaf-22	265	61	,	,	PUNCT
gujaf-22	265	62	2020	2020	NUM
gujaf-22	265	63	table	table	NOUN
gujaf-22	265	64	3	3	NUM
gujaf-22	265	65	shows	show	VERB
gujaf-22	265	66	that	that	SCONJ
gujaf-22	265	67	the	the	DET
gujaf-22	265	68	mean	mean	ADJ
gujaf-22	265	69	abnormal	abnormal	ADJ
gujaf-22	265	70	returns	return	NOUN
gujaf-22	265	71	for	for	ADP
gujaf-22	265	72	the	the	DET
gujaf-22	265	73	pre	pre	NOUN
gujaf-22	265	74	-	-	NOUN
gujaf-22	265	75	automation	automation	NOUN
gujaf-22	265	76	and	and	CCONJ
gujaf-22	265	77	postautomation	postautomation	NOUN
gujaf-22	265	78	event	event	NOUN
gujaf-22	265	79	windows	window	NOUN
gujaf-22	265	80	were	be	AUX
gujaf-22	265	81	both	both	ADV
gujaf-22	265	82	negative	negative	ADJ
gujaf-22	265	83	,	,	PUNCT
gujaf-22	265	84	further	further	ADJ
gujaf-22	265	85	lending	lending	NOUN
gujaf-22	265	86	credence	credence	NOUN
gujaf-22	265	87	to	to	ADP
gujaf-22	265	88	the	the	DET
gujaf-22	265	89	fact	fact	NOUN
gujaf-22	265	90	that	that	SCONJ
gujaf-22	265	91	seos	seo	NOUN
gujaf-22	265	92	induced	induce	VERB
gujaf-22	265	93	negative	negative	ADJ
gujaf-22	265	94	reaction	reaction	NOUN
gujaf-22	265	95	in	in	ADP
gujaf-22	265	96	nigeria	nigeria	PROPN
gujaf-22	265	97	.	.	PUNCT
gujaf-22	266	1	the	the	DET
gujaf-22	266	2	table	table	NOUN
gujaf-22	266	3	also	also	ADV
gujaf-22	266	4	shows	show	VERB
gujaf-22	266	5	that	that	SCONJ
gujaf-22	266	6	the	the	DET
gujaf-22	266	7	difference	difference	NOUN
gujaf-22	266	8	between	between	ADP
gujaf-22	266	9	the	the	DET
gujaf-22	266	10	mean	mean	ADJ
gujaf-22	266	11	abnormal	abnormal	ADJ
gujaf-22	266	12	returns	return	NOUN
gujaf-22	266	13	in	in	ADP
gujaf-22	266	14	the	the	DET
gujaf-22	266	15	pre	pre	NOUN
gujaf-22	266	16	-	-	NOUN
gujaf-22	266	17	automation	automation	NOUN
gujaf-22	266	18	and	and	CCONJ
gujaf-22	266	19	postautomation	postautomation	NOUN
gujaf-22	266	20	windows	window	NOUN
gujaf-22	266	21	respectively	respectively	ADV
gujaf-22	266	22	was	be	AUX
gujaf-22	266	23	-0.10	-0.10	NUM
gujaf-22	266	24	,	,	PUNCT
gujaf-22	266	25	suggesting	suggest	VERB
gujaf-22	266	26	that	that	SCONJ
gujaf-22	266	27	the	the	DET
gujaf-22	266	28	difference	difference	NOUN
gujaf-22	266	29	itself	itself	PRON
gujaf-22	266	30	was	be	AUX
gujaf-22	266	31	adverse	adverse	ADJ
gujaf-22	266	32	.	.	PUNCT
gujaf-22	267	1	as	as	SCONJ
gujaf-22	267	2	can	can	AUX
gujaf-22	267	3	be	be	AUX
gujaf-22	267	4	seen	see	VERB
gujaf-22	267	5	from	from	ADP
gujaf-22	267	6	the	the	DET
gujaf-22	267	7	table	table	NOUN
gujaf-22	267	8	,	,	PUNCT
gujaf-22	267	9	the	the	DET
gujaf-22	267	10	t	t	NOUN
gujaf-22	267	11	value	value	NOUN
gujaf-22	267	12	of	of	ADP
gujaf-22	267	13	-0.26	-0.26	NOUN
gujaf-22	267	14	was	be	AUX
gujaf-22	267	15	not	not	PART
gujaf-22	267	16	statistically	statistically	ADV
gujaf-22	267	17	significant	significant	ADJ
gujaf-22	267	18	at	at	ADP
gujaf-22	267	19	any	any	PRON
gujaf-22	267	20	of	of	ADP
gujaf-22	267	21	the	the	DET
gujaf-22	267	22	conventional	conventional	ADJ
gujaf-22	267	23	levels	level	NOUN
gujaf-22	267	24	.	.	PUNCT
gujaf-22	268	1	this	this	DET
gujaf-22	268	2	result	result	NOUN
gujaf-22	268	3	indicates	indicate	VERB
gujaf-22	268	4	that	that	SCONJ
gujaf-22	268	5	automation	automation	NOUN
gujaf-22	268	6	of	of	ADP
gujaf-22	268	7	the	the	DET
gujaf-22	268	8	nigerian	nigerian	ADJ
gujaf-22	268	9	stock	stock	NOUN
gujaf-22	268	10	market	market	NOUN
gujaf-22	268	11	did	do	AUX
gujaf-22	268	12	not	not	PART
gujaf-22	268	13	significantly	significantly	ADV
gujaf-22	268	14	affect	affect	VERB
gujaf-22	268	15	reaction	reaction	NOUN
gujaf-22	268	16	of	of	ADP
gujaf-22	268	17	the	the	DET
gujaf-22	268	18	market	market	NOUN
gujaf-22	268	19	to	to	ADP
gujaf-22	268	20	seos	seo	NOUN
gujaf-22	268	21	announcements	announcement	NOUN
gujaf-22	268	22	.	.	PUNCT
gujaf-22	269	1	even	even	ADV
gujaf-22	269	2	though	though	SCONJ
gujaf-22	269	3	no	no	DET
gujaf-22	269	4	known	know	VERB
gujaf-22	269	5	previous	previous	ADJ
gujaf-22	269	6	study	study	NOUN
gujaf-22	269	7	has	have	AUX
gujaf-22	269	8	specifically	specifically	ADV
gujaf-22	269	9	examined	examine	VERB
gujaf-22	269	10	effect	effect	NOUN
gujaf-22	269	11	of	of	ADP
gujaf-22	269	12	automation	automation	NOUN
gujaf-22	269	13	of	of	ADP
gujaf-22	269	14	the	the	DET
gujaf-22	269	15	nigerian	nigerian	ADJ
gujaf-22	269	16	stock	stock	NOUN
gujaf-22	269	17	market	market	NOUN
gujaf-22	269	18	within	within	ADP
gujaf-22	269	19	the	the	DET
gujaf-22	269	20	context	context	NOUN
gujaf-22	269	21	of	of	ADP
gujaf-22	269	22	value	value	NOUN
gujaf-22	269	23	-	-	PUNCT
gujaf-22	269	24	relevant	relevant	ADJ
gujaf-22	269	25	corporate	corporate	ADJ
gujaf-22	269	26	actions	action	NOUN
gujaf-22	269	27	such	such	ADJ
gujaf-22	269	28	as	as	ADP
gujaf-22	269	29	seos	seo	NOUN
gujaf-22	270	1	,	,	PUNCT
gujaf-22	270	2	this	this	DET
gujaf-22	270	3	finding	finding	NOUN
gujaf-22	270	4	is	be	AUX
gujaf-22	270	5	,	,	PUNCT
gujaf-22	270	6	on	on	ADP
gujaf-22	270	7	the	the	DET
gujaf-22	270	8	general	general	ADJ
gujaf-22	270	9	note	note	NOUN
gujaf-22	270	10	of	of	ADP
gujaf-22	270	11	efficiency	efficiency	NOUN
gujaf-22	270	12	,	,	PUNCT
gujaf-22	270	13	consistent	consistent	ADJ
gujaf-22	270	14	with	with	ADP
gujaf-22	270	15	those	those	PRON
gujaf-22	270	16	of	of	ADP
gujaf-22	270	17	odeleye	odeleye	NOUN
gujaf-22	270	18	(	(	PUNCT
gujaf-22	270	19	2009	2009	NUM
gujaf-22	270	20	)	)	PUNCT
gujaf-22	270	21	and	and	CCONJ
gujaf-22	270	22	olowe	olowe	NOUN
gujaf-22	270	23	(	(	PUNCT
gujaf-22	270	24	2009	2009	NUM
gujaf-22	270	25	)	)	PUNCT
gujaf-22	270	26	who	who	PRON
gujaf-22	270	27	found	find	VERB
gujaf-22	270	28	insignificant	insignificant	ADJ
gujaf-22	270	29	effect	effect	NOUN
gujaf-22	270	30	of	of	ADP
gujaf-22	270	31	automation	automation	NOUN
gujaf-22	270	32	on	on	ADP
gujaf-22	270	33	efficiency	efficiency	NOUN
gujaf-22	270	34	of	of	ADP
gujaf-22	270	35	the	the	DET
gujaf-22	270	36	nigerian	nigerian	ADJ
gujaf-22	270	37	stock	stock	NOUN
gujaf-22	270	38	market	market	NOUN
gujaf-22	270	39	.	.	PUNCT
gujaf-22	271	1	the	the	DET
gujaf-22	271	2	insignificant	insignificant	ADJ
gujaf-22	271	3	effect	effect	NOUN
gujaf-22	271	4	of	of	ADP
gujaf-22	271	5	automation	automation	NOUN
gujaf-22	271	6	on	on	ADP
gujaf-22	271	7	seos	seo	NOUN
gujaf-22	271	8	announcements	announcement	NOUN
gujaf-22	271	9	may	may	AUX
gujaf-22	271	10	be	be	AUX
gujaf-22	271	11	explained	explain	VERB
gujaf-22	271	12	by	by	ADP
gujaf-22	271	13	the	the	DET
gujaf-22	271	14	fact	fact	NOUN
gujaf-22	271	15	that	that	SCONJ
gujaf-22	271	16	the	the	DET
gujaf-22	271	17	automation	automation	NOUN
gujaf-22	271	18	process	process	NOUN
gujaf-22	271	19	did	do	AUX
gujaf-22	271	20	not	not	PART
gujaf-22	271	21	markedly	markedly	ADV
gujaf-22	271	22	improve	improve	VERB
gujaf-22	271	23	the	the	DET
gujaf-22	271	24	speed	speed	NOUN
gujaf-22	271	25	of	of	ADP
gujaf-22	271	26	processing	processing	NOUN
gujaf-22	271	27	buy	buy	NOUN
gujaf-22	271	28	or	or	CCONJ
gujaf-22	271	29	sell	sell	VERB
gujaf-22	271	30	orders	order	NOUN
gujaf-22	271	31	in	in	ADP
gujaf-22	271	32	the	the	DET
gujaf-22	271	33	market	market	NOUN
gujaf-22	271	34	.	.	PUNCT
gujaf-22	272	1	gujaf	gujaf	NOUN
gujaf-22	272	2	:	:	PUNCT
gujaf-22	272	3	gusau	gusau	PROPN
gujaf-22	272	4	journal	journal	NOUN
gujaf-22	272	5	of	of	ADP
gujaf-22	272	6	accounting	accounting	NOUN
gujaf-22	272	7	and	and	CCONJ
gujaf-22	272	8	finance	finance	NOUN
gujaf-22	272	9	,	,	PUNCT
gujaf-22	272	10	vol	vol	NOUN
gujaf-22	272	11	.	.	PUNCT
gujaf-22	273	1	i	i	PRON
gujaf-22	273	2	,	,	PUNCT
gujaf-22	273	3	issue	issue	NOUN
gujaf-22	273	4	1	1	NUM
gujaf-22	273	5	,	,	PUNCT
gujaf-22	273	6	april	april	PROPN
gujaf-22	273	7	,	,	PUNCT
gujaf-22	273	8	2020	2020	NUM
gujaf-22	273	9	issn	issn	VERB
gujaf-22	273	10	2756	2756	NUM
gujaf-22	273	11	-	-	PUNCT
gujaf-22	273	12	665x	665x	NOUN
gujaf-22	273	13	18	18	NUM
gujaf-22	273	14	5	5	NUM
gujaf-22	273	15	.	.	PUNCT
gujaf-22	274	1	conclusion	conclusion	NOUN
gujaf-22	274	2	this	this	DET
gujaf-22	274	3	study	study	NOUN
gujaf-22	274	4	examined	examine	VERB
gujaf-22	274	5	effect	effect	NOUN
gujaf-22	274	6	of	of	ADP
gujaf-22	274	7	automation	automation	NOUN
gujaf-22	274	8	of	of	ADP
gujaf-22	274	9	the	the	DET
gujaf-22	274	10	nigerian	nigerian	ADJ
gujaf-22	274	11	stock	stock	NOUN
gujaf-22	274	12	market	market	NOUN
gujaf-22	274	13	’s	’s	PART
gujaf-22	274	14	trading	trading	NOUN
gujaf-22	274	15	floors	floor	NOUN
gujaf-22	274	16	on	on	ADP
gujaf-22	274	17	the	the	DET
gujaf-22	274	18	market	market	NOUN
gujaf-22	274	19	’s	’s	PART
gujaf-22	274	20	reaction	reaction	NOUN
gujaf-22	274	21	to	to	ADP
gujaf-22	274	22	seo	seo	NOUN
gujaf-22	274	23	announcements	announcement	NOUN
gujaf-22	274	24	made	make	VERB
gujaf-22	274	25	between	between	ADP
gujaf-22	274	26	july	july	PROPN
gujaf-22	274	27	1995	1995	NUM
gujaf-22	274	28	and	and	CCONJ
gujaf-22	274	29	december	december	PROPN
gujaf-22	274	30	2019	2019	NUM
gujaf-22	274	31	.	.	PUNCT
gujaf-22	275	1	consistent	consistent	ADJ
gujaf-22	275	2	with	with	ADP
gujaf-22	275	3	extant	extant	ADJ
gujaf-22	275	4	empirical	empirical	ADJ
gujaf-22	275	5	evidence	evidence	NOUN
gujaf-22	275	6	,	,	PUNCT
gujaf-22	275	7	the	the	DET
gujaf-22	275	8	study	study	NOUN
gujaf-22	275	9	found	find	VERB
gujaf-22	275	10	negative	negative	ADJ
gujaf-22	275	11	and	and	CCONJ
gujaf-22	275	12	significant	significant	ADJ
gujaf-22	275	13	announcement	announcement	NOUN
gujaf-22	275	14	day	day	NOUN
gujaf-22	275	15	reaction	reaction	NOUN
gujaf-22	275	16	by	by	ADP
gujaf-22	275	17	the	the	DET
gujaf-22	275	18	nigerian	nigerian	ADJ
gujaf-22	275	19	stock	stock	NOUN
gujaf-22	275	20	market	market	NOUN
gujaf-22	275	21	.	.	PUNCT
gujaf-22	276	1	in	in	ADP
gujaf-22	276	2	addition	addition	NOUN
gujaf-22	276	3	,	,	PUNCT
gujaf-22	276	4	almost	almost	ADV
gujaf-22	276	5	all	all	DET
gujaf-22	276	6	the	the	DET
gujaf-22	276	7	days	day	NOUN
gujaf-22	276	8	within	within	ADP
gujaf-22	276	9	the	the	DET
gujaf-22	276	10	event	event	NOUN
gujaf-22	276	11	window	window	NOUN
gujaf-22	276	12	experienced	experience	VERB
gujaf-22	276	13	negative	negative	ADJ
gujaf-22	276	14	and	and	CCONJ
gujaf-22	276	15	significant	significant	ADJ
gujaf-22	276	16	market	market	NOUN
gujaf-22	276	17	reaction	reaction	NOUN
gujaf-22	276	18	.	.	PUNCT
gujaf-22	277	1	it	it	PRON
gujaf-22	277	2	was	be	AUX
gujaf-22	277	3	concluded	conclude	VERB
gujaf-22	277	4	that	that	SCONJ
gujaf-22	277	5	the	the	DET
gujaf-22	277	6	adverse	adverse	ADJ
gujaf-22	277	7	reaction	reaction	NOUN
gujaf-22	277	8	was	be	AUX
gujaf-22	277	9	,	,	PUNCT
gujaf-22	277	10	irrespective	irrespective	ADV
gujaf-22	277	11	of	of	ADP
gujaf-22	277	12	the	the	DET
gujaf-22	277	13	reason	reason	NOUN
gujaf-22	277	14	provided	provide	VERB
gujaf-22	277	15	for	for	ADP
gujaf-22	277	16	raising	raise	VERB
gujaf-22	277	17	capital	capital	NOUN
gujaf-22	277	18	through	through	ADP
gujaf-22	277	19	seos	seo	NOUN
gujaf-22	277	20	,	,	PUNCT
gujaf-22	277	21	perceived	perceive	VERB
gujaf-22	277	22	by	by	ADP
gujaf-22	277	23	the	the	DET
gujaf-22	277	24	market	market	NOUN
gujaf-22	277	25	as	as	ADP
gujaf-22	277	26	a	a	DET
gujaf-22	277	27	signal	signal	NOUN
gujaf-22	277	28	that	that	SCONJ
gujaf-22	277	29	the	the	DET
gujaf-22	277	30	issuing	issue	VERB
gujaf-22	277	31	firms	firm	NOUN
gujaf-22	277	32	’	'	PUNCT
gujaf-22	277	33	assets	asset	NOUN
gujaf-22	277	34	were	be	AUX
gujaf-22	277	35	overvalued	overvalue	VERB
gujaf-22	277	36	.	.	PUNCT
gujaf-22	278	1	the	the	DET
gujaf-22	278	2	study	study	NOUN
gujaf-22	278	3	also	also	ADV
gujaf-22	278	4	found	find	VERB
gujaf-22	278	5	that	that	DET
gujaf-22	278	6	automation	automation	NOUN
gujaf-22	278	7	of	of	ADP
gujaf-22	278	8	the	the	DET
gujaf-22	278	9	nigerian	nigerian	ADJ
gujaf-22	278	10	stock	stock	NOUN
gujaf-22	278	11	market	market	NOUN
gujaf-22	278	12	trading	trading	NOUN
gujaf-22	278	13	floors	floor	NOUN
gujaf-22	278	14	has	have	VERB
gujaf-22	278	15	little	little	ADJ
gujaf-22	278	16	or	or	CCONJ
gujaf-22	278	17	insignificant	insignificant	ADJ
gujaf-22	278	18	effect	effect	NOUN
gujaf-22	278	19	on	on	ADP
gujaf-22	278	20	the	the	DET
gujaf-22	278	21	market	market	NOUN
gujaf-22	278	22	’s	’s	PART
gujaf-22	278	23	reaction	reaction	NOUN
gujaf-22	278	24	to	to	ADP
gujaf-22	278	25	seo	seo	NOUN
gujaf-22	278	26	announcements	announcement	NOUN
gujaf-22	278	27	.	.	PUNCT
gujaf-22	279	1	this	this	PRON
gujaf-22	279	2	indicates	indicate	VERB
gujaf-22	279	3	that	that	SCONJ
gujaf-22	279	4	the	the	DET
gujaf-22	279	5	reaction	reaction	NOUN
gujaf-22	279	6	of	of	ADP
gujaf-22	279	7	the	the	DET
gujaf-22	279	8	market	market	NOUN
gujaf-22	279	9	to	to	ADP
gujaf-22	279	10	seos	seo	NOUN
gujaf-22	279	11	was	be	AUX
gujaf-22	279	12	essentially	essentially	ADV
gujaf-22	279	13	the	the	DET
gujaf-22	279	14	same	same	ADJ
gujaf-22	279	15	before	before	ADV
gujaf-22	279	16	and	and	CCONJ
gujaf-22	279	17	after	after	ADP
gujaf-22	279	18	the	the	DET
gujaf-22	279	19	trading	trading	NOUN
gujaf-22	279	20	floors	floor	NOUN
gujaf-22	279	21	were	be	AUX
gujaf-22	279	22	automated	automate	VERB
gujaf-22	279	23	in	in	ADP
gujaf-22	279	24	nigeria	nigeria	PROPN
gujaf-22	279	25	.	.	PUNCT
gujaf-22	280	1	the	the	DET
gujaf-22	280	2	study	study	NOUN
gujaf-22	280	3	therefore	therefore	ADV
gujaf-22	280	4	concluded	conclude	VERB
gujaf-22	280	5	that	that	SCONJ
gujaf-22	280	6	the	the	DET
gujaf-22	280	7	deployment	deployment	NOUN
gujaf-22	280	8	of	of	ADP
gujaf-22	280	9	technology	technology	NOUN
gujaf-22	280	10	in	in	ADP
gujaf-22	280	11	trading	trading	NOUN
gujaf-22	280	12	does	do	AUX
gujaf-22	280	13	not	not	PART
gujaf-22	280	14	really	really	ADV
gujaf-22	280	15	matter	matter	VERB
gujaf-22	280	16	for	for	ADP
gujaf-22	280	17	emerging	emerge	VERB
gujaf-22	280	18	stock	stock	NOUN
gujaf-22	280	19	markets	market	NOUN
gujaf-22	280	20	like	like	ADP
gujaf-22	280	21	nigeria	nigeria	PRON
gujaf-22	280	22	’s	’s	PART
gujaf-22	280	23	.	.	PUNCT
gujaf-22	281	1	the	the	DET
gujaf-22	281	2	traditional	traditional	ADJ
gujaf-22	281	3	attachment	attachment	NOUN
gujaf-22	281	4	to	to	ADP
gujaf-22	281	5	manual	manual	ADJ
gujaf-22	281	6	techniques	technique	NOUN
gujaf-22	281	7	even	even	ADV
gujaf-22	281	8	where	where	SCONJ
gujaf-22	281	9	information	information	NOUN
gujaf-22	281	10	technology	technology	NOUN
gujaf-22	281	11	is	be	AUX
gujaf-22	281	12	adequate	adequate	ADJ
gujaf-22	281	13	may	may	AUX
gujaf-22	281	14	also	also	ADV
gujaf-22	281	15	have	have	AUX
gujaf-22	281	16	affected	affect	VERB
gujaf-22	281	17	the	the	DET
gujaf-22	281	18	market	market	NOUN
gujaf-22	281	19	’s	’s	PART
gujaf-22	281	20	response	response	NOUN
gujaf-22	281	21	to	to	ADP
gujaf-22	281	22	the	the	DET
gujaf-22	281	23	announcement	announcement	NOUN
gujaf-22	281	24	.	.	PUNCT
gujaf-22	282	1	the	the	DET
gujaf-22	282	2	study	study	NOUN
gujaf-22	282	3	recommends	recommend	VERB
gujaf-22	282	4	that	that	SCONJ
gujaf-22	282	5	firms	firm	NOUN
gujaf-22	282	6	announcing	announce	VERB
gujaf-22	282	7	seos	seo	NOUN
gujaf-22	282	8	in	in	ADP
gujaf-22	282	9	nigeria	nigeria	PROPN
gujaf-22	282	10	should	should	AUX
gujaf-22	282	11	clearly	clearly	ADV
gujaf-22	282	12	specify	specify	VERB
gujaf-22	282	13	the	the	DET
gujaf-22	282	14	reason	reason	NOUN
gujaf-22	282	15	for	for	ADP
gujaf-22	282	16	which	which	PRON
gujaf-22	282	17	the	the	DET
gujaf-22	282	18	firm	firm	NOUN
gujaf-22	282	19	is	be	AUX
gujaf-22	282	20	issuing	issue	VERB
gujaf-22	282	21	new	new	ADJ
gujaf-22	282	22	capital	capital	NOUN
gujaf-22	282	23	as	as	ADV
gujaf-22	282	24	well	well	ADV
gujaf-22	282	25	as	as	ADP
gujaf-22	282	26	the	the	DET
gujaf-22	282	27	intended	intend	VERB
gujaf-22	282	28	use	use	NOUN
gujaf-22	282	29	of	of	ADP
gujaf-22	282	30	proceeds	proceed	NOUN
gujaf-22	282	31	from	from	ADP
gujaf-22	282	32	the	the	DET
gujaf-22	282	33	seo	seo	NOUN
gujaf-22	282	34	.	.	PUNCT
gujaf-22	283	1	this	this	PRON
gujaf-22	283	2	is	be	AUX
gujaf-22	283	3	particularly	particularly	ADV
gujaf-22	283	4	important	important	ADJ
gujaf-22	283	5	in	in	ADP
gujaf-22	283	6	reducing	reduce	VERB
gujaf-22	283	7	the	the	DET
gujaf-22	283	8	extent	extent	NOUN
gujaf-22	283	9	of	of	ADP
gujaf-22	283	10	adverse	adverse	ADJ
gujaf-22	283	11	reaction	reaction	NOUN
gujaf-22	283	12	.	.	PUNCT
gujaf-22	284	1	with	with	ADP
gujaf-22	284	2	adequate	adequate	ADJ
gujaf-22	284	3	disclosure	disclosure	NOUN
gujaf-22	284	4	prior	prior	ADV
gujaf-22	284	5	to	to	ADP
gujaf-22	284	6	seo	seo	NOUN
gujaf-22	284	7	announcements	announcement	NOUN
gujaf-22	284	8	,	,	PUNCT
gujaf-22	284	9	the	the	DET
gujaf-22	284	10	market	market	NOUN
gujaf-22	284	11	will	will	AUX
gujaf-22	284	12	properly	properly	ADV
gujaf-22	284	13	value	value	VERB
gujaf-22	284	14	the	the	DET
gujaf-22	284	15	effect	effect	NOUN
gujaf-22	284	16	of	of	ADP
gujaf-22	284	17	new	new	ADJ
gujaf-22	284	18	equity	equity	NOUN
gujaf-22	284	19	issues	issue	NOUN
gujaf-22	284	20	.	.	PUNCT
gujaf-22	285	1	for	for	ADP
gujaf-22	285	2	instance	instance	NOUN
gujaf-22	285	3	,	,	PUNCT
gujaf-22	285	4	extant	extant	ADJ
gujaf-22	285	5	empirical	empirical	ADJ
gujaf-22	285	6	evidence	evidence	NOUN
gujaf-22	285	7	has	have	AUX
gujaf-22	285	8	shown	show	VERB
gujaf-22	285	9	that	that	SCONJ
gujaf-22	285	10	markets	market	NOUN
gujaf-22	285	11	react	react	VERB
gujaf-22	285	12	positively	positively	ADV
gujaf-22	285	13	to	to	ADP
gujaf-22	285	14	seos	seo	NOUN
gujaf-22	285	15	conducted	conduct	VERB
gujaf-22	285	16	to	to	PART
gujaf-22	285	17	finance	finance	VERB
gujaf-22	285	18	investment	investment	NOUN
gujaf-22	285	19	or	or	CCONJ
gujaf-22	285	20	growth	growth	NOUN
gujaf-22	285	21	opportunities	opportunity	NOUN
gujaf-22	285	22	if	if	SCONJ
gujaf-22	285	23	the	the	DET
gujaf-22	285	24	reason	reason	NOUN
gujaf-22	285	25	for	for	ADP
gujaf-22	285	26	the	the	DET
gujaf-22	285	27	issue	issue	NOUN
gujaf-22	285	28	has	have	AUX
gujaf-22	285	29	been	be	AUX
gujaf-22	285	30	effectively	effectively	ADV
gujaf-22	285	31	communicated	communicate	VERB
gujaf-22	285	32	to	to	ADP
gujaf-22	285	33	the	the	DET
gujaf-22	285	34	market	market	NOUN
gujaf-22	285	35	.	.	PUNCT
gujaf-22	286	1	the	the	DET
gujaf-22	286	2	study	study	NOUN
gujaf-22	286	3	also	also	ADV
gujaf-22	286	4	recommends	recommend	VERB
gujaf-22	286	5	that	that	SCONJ
gujaf-22	286	6	it	it	PRON
gujaf-22	286	7	is	be	AUX
gujaf-22	286	8	not	not	PART
gujaf-22	286	9	enough	enough	ADJ
gujaf-22	286	10	to	to	PART
gujaf-22	286	11	merely	merely	ADV
gujaf-22	286	12	automate	automate	VERB
gujaf-22	286	13	trade	trade	NOUN
gujaf-22	286	14	platforms	platform	NOUN
gujaf-22	286	15	in	in	ADP
gujaf-22	286	16	the	the	DET
gujaf-22	286	17	nigerian	nigerian	ADJ
gujaf-22	286	18	stock	stock	NOUN
gujaf-22	286	19	market	market	NOUN
gujaf-22	286	20	without	without	ADP
gujaf-22	286	21	equally	equally	ADV
gujaf-22	286	22	automating	automate	VERB
gujaf-22	286	23	the	the	DET
gujaf-22	286	24	channels	channel	NOUN
gujaf-22	286	25	of	of	ADP
gujaf-22	286	26	market	market	NOUN
gujaf-22	286	27	information	information	NOUN
gujaf-22	286	28	dissemination	dissemination	NOUN
gujaf-22	286	29	as	as	SCONJ
gujaf-22	286	30	such	such	ADJ
gujaf-22	286	31	channels	channel	NOUN
gujaf-22	286	32	are	be	AUX
gujaf-22	286	33	at	at	ADP
gujaf-22	286	34	the	the	DET
gujaf-22	286	35	heart	heart	NOUN
gujaf-22	286	36	of	of	ADP
gujaf-22	286	37	promptly	promptly	ADV
gujaf-22	286	38	availing	avail	VERB
gujaf-22	286	39	market	market	NOUN
gujaf-22	286	40	information	information	NOUN
gujaf-22	286	41	to	to	ADP
gujaf-22	286	42	investors	investor	NOUN
gujaf-22	286	43	and	and	CCONJ
gujaf-22	286	44	other	other	ADJ
gujaf-22	286	45	market	market	NOUN
gujaf-22	286	46	participants	participant	NOUN
gujaf-22	286	47	.	.	PUNCT
gujaf-22	287	1	it	it	PRON
gujaf-22	287	2	is	be	AUX
gujaf-22	287	3	further	far	ADV
gujaf-22	287	4	recommended	recommend	VERB
gujaf-22	287	5	that	that	SCONJ
gujaf-22	287	6	automated	automate	VERB
gujaf-22	287	7	trading	trading	NOUN
gujaf-22	287	8	platforms	platform	NOUN
gujaf-22	287	9	and	and	CCONJ
gujaf-22	287	10	other	other	ADJ
gujaf-22	287	11	electronic	electronic	ADJ
gujaf-22	287	12	information	information	NOUN
gujaf-22	287	13	dissemination	dissemination	NOUN
gujaf-22	287	14	channels	channel	NOUN
gujaf-22	287	15	within	within	ADP
gujaf-22	287	16	the	the	DET
gujaf-22	287	17	stock	stock	NOUN
gujaf-22	287	18	market	market	NOUN
gujaf-22	287	19	must	must	AUX
gujaf-22	287	20	be	be	AUX
gujaf-22	287	21	constantly	constantly	ADV
gujaf-22	287	22	upgraded	upgrade	VERB
gujaf-22	287	23	to	to	ADP
gujaf-22	287	24	gujaf	gujaf	NOUN
gujaf-22	287	25	:	:	PUNCT
gujaf-22	287	26	gusau	gusau	PROPN
gujaf-22	287	27	journal	journal	NOUN
gujaf-22	287	28	of	of	ADP
gujaf-22	287	29	accounting	accounting	NOUN
gujaf-22	287	30	and	and	CCONJ
gujaf-22	287	31	finance	finance	NOUN
gujaf-22	287	32	,	,	PUNCT
gujaf-22	287	33	vol	vol	NOUN
gujaf-22	287	34	.	.	PUNCT
gujaf-22	288	1	i	i	PRON
gujaf-22	288	2	,	,	PUNCT
gujaf-22	288	3	issue	issue	NOUN
gujaf-22	288	4	1	1	NUM
gujaf-22	288	5	,	,	PUNCT
gujaf-22	288	6	april	april	PROPN
gujaf-22	288	7	,	,	PUNCT
gujaf-22	288	8	2020	2020	NUM
gujaf-22	288	9	issn	issn	VERB
gujaf-22	288	10	2756	2756	NUM
gujaf-22	288	11	-	-	PUNCT
gujaf-22	288	12	665x	665x	NOUN
gujaf-22	288	13	19	19	NUM
gujaf-22	288	14	meet	meet	NOUN
gujaf-22	288	15	changing	change	VERB
gujaf-22	288	16	needs	need	NOUN
gujaf-22	288	17	and	and	CCONJ
gujaf-22	288	18	sophistications	sophistication	NOUN
gujaf-22	288	19	as	as	SCONJ
gujaf-22	288	20	the	the	DET
gujaf-22	288	21	market	market	NOUN
gujaf-22	288	22	continues	continue	VERB
gujaf-22	288	23	to	to	PART
gujaf-22	288	24	grow	grow	VERB
gujaf-22	288	25	.	.	PUNCT
gujaf-22	289	1	this	this	PRON
gujaf-22	289	2	is	be	AUX
gujaf-22	289	3	necessary	necessary	ADJ
gujaf-22	289	4	to	to	PART
gujaf-22	289	5	keep	keep	VERB
gujaf-22	289	6	up	up	ADP
gujaf-22	289	7	with	with	ADP
gujaf-22	289	8	the	the	DET
gujaf-22	289	9	pace	pace	NOUN
gujaf-22	289	10	of	of	ADP
gujaf-22	289	11	improved	improved	ADJ
gujaf-22	289	12	investor	investor	NOUN
gujaf-22	289	13	awareness	awareness	NOUN
gujaf-22	289	14	over	over	ADP
gujaf-22	289	15	the	the	DET
gujaf-22	289	16	years	year	NOUN
gujaf-22	289	17	.	.	PUNCT
gujaf-22	290	1	references	reference	NOUN
gujaf-22	290	2	adelegan	adelegan	PROPN
gujaf-22	290	3	,	,	PUNCT
gujaf-22	290	4	o.	o.	PROPN
gujaf-22	290	5	j.	j.	PROPN
gujaf-22	290	6	(	(	PUNCT
gujaf-22	290	7	2009a	2009a	NUM
gujaf-22	290	8	)	)	PUNCT
gujaf-22	290	9	.	.	PUNCT
gujaf-22	291	1	price	price	NOUN
gujaf-22	291	2	reactions	reaction	NOUN
gujaf-22	291	3	to	to	PART
gujaf-22	291	4	dividend	dividend	VERB
gujaf-22	291	5	announcements	announcement	NOUN
gujaf-22	291	6	on	on	ADP
gujaf-22	291	7	the	the	DET
gujaf-22	291	8	nigerian	nigerian	ADJ
gujaf-22	291	9	stock	stock	NOUN
gujaf-22	291	10	markets	market	NOUN
gujaf-22	291	11	.	.	PUNCT
gujaf-22	292	1	aerc	aerc	PROPN
gujaf-22	292	2	research	research	NOUN
gujaf-22	292	3	paper	paper	NOUN
gujaf-22	292	4	number	number	NOUN
gujaf-22	292	5	188	188	NUM
gujaf-22	292	6	.	.	PUNCT
gujaf-22	293	1	adelegan	adelegan	PROPN
gujaf-22	293	2	,	,	PUNCT
gujaf-22	293	3	o.	o.	PROPN
gujaf-22	293	4	j.	j.	PROPN
gujaf-22	293	5	(	(	PUNCT
gujaf-22	293	6	2009b	2009b	NUM
gujaf-22	293	7	)	)	PUNCT
gujaf-22	293	8	.	.	PUNCT
gujaf-22	294	1	does	do	VERB
gujaf-22	294	2	corporate	corporate	ADJ
gujaf-22	294	3	leadership	leadership	NOUN
gujaf-22	294	4	matter	matter	NOUN
gujaf-22	294	5	?	?	PUNCT
gujaf-22	295	1	evidence	evidence	NOUN
gujaf-22	295	2	from	from	ADP
gujaf-22	295	3	nigeria	nigeria	PROPN
gujaf-22	295	4	.	.	PUNCT
gujaf-22	296	1	aerc	aerc	PROPN
gujaf-22	296	2	research	research	NOUN
gujaf-22	296	3	paper	paper	NOUN
gujaf-22	296	4	number	number	NOUN
gujaf-22	296	5	189	189	NUM
gujaf-22	296	6	.	.	PUNCT
gujaf-22	296	7	afego	afego	PROPN
gujaf-22	296	8	,	,	PUNCT
gujaf-22	296	9	p.	p.	NOUN
gujaf-22	296	10	(	(	PUNCT
gujaf-22	296	11	2010	2010	NUM
gujaf-22	296	12	)	)	PUNCT
gujaf-22	296	13	.	.	PUNCT
gujaf-22	297	1	stock	stock	NOUN
gujaf-22	297	2	price	price	NOUN
gujaf-22	297	3	response	response	NOUN
gujaf-22	297	4	to	to	ADP
gujaf-22	297	5	earnings	earning	NOUN
gujaf-22	297	6	announcements	announcement	NOUN
gujaf-22	297	7	:	:	PUNCT
gujaf-22	297	8	evidence	evidence	NOUN
gujaf-22	297	9	from	from	ADP
gujaf-22	297	10	the	the	DET
gujaf-22	297	11	nigerian	nigerian	ADJ
gujaf-22	297	12	stock	stock	NOUN
gujaf-22	297	13	market	market	NOUN
gujaf-22	297	14	,	,	PUNCT
gujaf-22	297	15	mpra	mpra	PROPN
gujaf-22	297	16	paper	paper	PROPN
gujaf-22	297	17	33931	33931	NUM
gujaf-22	297	18	,	,	PUNCT
gujaf-22	297	19	university	university	NOUN
gujaf-22	297	20	library	library	NOUN
gujaf-22	297	21	of	of	ADP
gujaf-22	297	22	munich	munich	PROPN
gujaf-22	297	23	,	,	PUNCT
gujaf-22	297	24	germany	germany	PROPN
gujaf-22	297	25	;	;	PUNCT
gujaf-22	297	26	available	available	ADJ
gujaf-22	297	27	online	online	ADV
gujaf-22	297	28	at	at	ADP
gujaf-22	297	29	http://mpra.ub.unimuenchen.de/33931/	http://mpra.ub.unimuenchen.de/33931/	PROPN
gujaf-22	297	30	agung	agung	PROPN
gujaf-22	297	31	,	,	PUNCT
gujaf-22	297	32	i.	i.	PROPN
gujaf-22	297	33	g.	g.	PROPN
gujaf-22	297	34	n.	n.	PROPN
gujaf-22	297	35	(	(	PUNCT
gujaf-22	297	36	2009	2009	NUM
gujaf-22	297	37	)	)	PUNCT
gujaf-22	297	38	.	.	PUNCT
gujaf-22	298	1	time	time	PROPN
gujaf-22	298	2	series	series	PROPN
gujaf-22	298	3	data	data	VERB
gujaf-22	298	4	analysis	analysis	NOUN
gujaf-22	298	5	using	use	VERB
gujaf-22	298	6	eviews	eview	NOUN
gujaf-22	298	7	.	.	PUNCT
gujaf-22	299	1	singapore	singapore	PROPN
gujaf-22	299	2	:	:	PUNCT
gujaf-22	300	1	john	john	PROPN
gujaf-22	300	2	wiley	wiley	PROPN
gujaf-22	300	3	&	&	CCONJ
gujaf-22	300	4	sons	son	NOUN
gujaf-22	300	5	limited	limit	VERB
gujaf-22	300	6	.	.	PUNCT
gujaf-22	301	1	ball	ball	PROPN
gujaf-22	301	2	,	,	PUNCT
gujaf-22	301	3	r.	r.	PROPN
gujaf-22	301	4	,	,	PUNCT
gujaf-22	301	5	&	&	CCONJ
gujaf-22	301	6	brown	brown	PROPN
gujaf-22	301	7	,	,	PUNCT
gujaf-22	301	8	p.	p.	NOUN
gujaf-22	301	9	(	(	PUNCT
gujaf-22	301	10	1968	1968	NUM
gujaf-22	301	11	)	)	PUNCT
gujaf-22	301	12	.	.	PUNCT
gujaf-22	302	1	an	an	DET
gujaf-22	302	2	empirical	empirical	ADJ
gujaf-22	302	3	evaluation	evaluation	NOUN
gujaf-22	302	4	of	of	ADP
gujaf-22	302	5	accounting	accounting	NOUN
gujaf-22	302	6	income	income	NOUN
gujaf-22	302	7	numbers	number	NOUN
gujaf-22	302	8	.	.	PUNCT
gujaf-22	303	1	journal	journal	NOUN
gujaf-22	303	2	of	of	ADP
gujaf-22	303	3	accounting	accounting	NOUN
gujaf-22	303	4	research	research	NOUN
gujaf-22	303	5	,	,	PUNCT
gujaf-22	303	6	6	6	NUM
gujaf-22	303	7	,	,	PUNCT
gujaf-22	303	8	159	159	NUM
gujaf-22	303	9	-	-	SYM
gujaf-22	303	10	178	178	NUM
gujaf-22	303	11	.	.	PUNCT
gujaf-22	304	1	bhana	bhana	PROPN
gujaf-22	304	2	,	,	PUNCT
gujaf-22	304	3	n.	n.	NOUN
gujaf-22	304	4	(	(	PUNCT
gujaf-22	304	5	1998	1998	NUM
gujaf-22	304	6	)	)	PUNCT
gujaf-22	304	7	.	.	PUNCT
gujaf-22	305	1	share	share	NOUN
gujaf-22	305	2	price	price	NOUN
gujaf-22	305	3	reaction	reaction	NOUN
gujaf-22	305	4	to	to	ADP
gujaf-22	305	5	announcements	announcement	NOUN
gujaf-22	305	6	of	of	ADP
gujaf-22	305	7	equity	equity	NOUN
gujaf-22	305	8	financing	financing	NOUN
gujaf-22	305	9	by	by	ADP
gujaf-22	305	10	companies	company	NOUN
gujaf-22	305	11	listed	list	VERB
gujaf-22	305	12	on	on	ADP
gujaf-22	305	13	the	the	DET
gujaf-22	305	14	johannesburg	johannesburg	PROPN
gujaf-22	305	15	stock	stock	PROPN
gujaf-22	305	16	exchange	exchange	PROPN
gujaf-22	305	17	.	.	PUNCT
gujaf-22	306	1	investment	investment	NOUN
gujaf-22	306	2	analysts	analyst	NOUN
gujaf-22	306	3	journal	journal	NOUN
gujaf-22	306	4	,	,	PUNCT
gujaf-22	306	5	48	48	NUM
gujaf-22	306	6	,	,	PUNCT
gujaf-22	306	7	33	33	NUM
gujaf-22	306	8	-	-	SYM
gujaf-22	306	9	42	42	NUM
gujaf-22	306	10	.	.	PUNCT
gujaf-22	307	1	brau	brau	PROPN
gujaf-22	307	2	,	,	PUNCT
gujaf-22	307	3	j.	j.	PROPN
gujaf-22	307	4	c.	c.	PROPN
gujaf-22	307	5	,	,	PUNCT
gujaf-22	307	6	&	&	CCONJ
gujaf-22	307	7	carpenter	carpenter	PROPN
gujaf-22	307	8	,	,	PUNCT
gujaf-22	307	9	j.	j.	PROPN
gujaf-22	307	10	t.	t.	PROPN
gujaf-22	307	11	(	(	PUNCT
gujaf-22	307	12	2017	2017	NUM
gujaf-22	307	13	)	)	PUNCT
gujaf-22	307	14	.	.	PUNCT
gujaf-22	308	1	equity	equity	NOUN
gujaf-22	308	2	issuance	issuance	NOUN
gujaf-22	308	3	of	of	ADP
gujaf-22	308	4	healthcare	healthcare	NOUN
gujaf-22	308	5	firms	firm	NOUN
gujaf-22	308	6	after	after	ADP
gujaf-22	308	7	the	the	DET
gujaf-22	308	8	2007	2007	NUM
gujaf-22	308	9	market	market	NOUN
gujaf-22	308	10	crash	crash	NOUN
gujaf-22	308	11	and	and	CCONJ
gujaf-22	308	12	the	the	DET
gujaf-22	308	13	2010	2010	NUM
gujaf-22	308	14	affordable	affordable	ADJ
gujaf-22	308	15	care	care	PROPN
gujaf-22	308	16	act	act	PROPN
gujaf-22	308	17	.	.	PUNCT
gujaf-22	309	1	journal	journal	PROPN
gujaf-22	309	2	of	of	ADP
gujaf-22	309	3	health	health	PROPN
gujaf-22	309	4	care	care	NOUN
gujaf-22	309	5	finance	finance	NOUN
gujaf-22	309	6	,	,	PUNCT
gujaf-22	309	7	1(1	1(1	NUM
gujaf-22	309	8	)	)	PUNCT
gujaf-22	309	9	,	,	PUNCT
gujaf-22	309	10	1	1	NUM
gujaf-22	309	11	-	-	SYM
gujaf-22	309	12	15	15	NUM
gujaf-22	309	13	.	.	PUNCT
gujaf-22	310	1	brooks	brooks	PROPN
gujaf-22	310	2	,	,	PUNCT
gujaf-22	310	3	c.	c.	PROPN
gujaf-22	310	4	(	(	PUNCT
gujaf-22	310	5	2008	2008	NUM
gujaf-22	310	6	)	)	PUNCT
gujaf-22	310	7	.	.	PUNCT
gujaf-22	311	1	introductory	introductory	ADJ
gujaf-22	311	2	econometrics	econometric	NOUN
gujaf-22	311	3	for	for	ADP
gujaf-22	311	4	finance	finance	NOUN
gujaf-22	311	5	(	(	PUNCT
gujaf-22	311	6	2nd	2nd	ADJ
gujaf-22	311	7	ed	ed	NOUN
gujaf-22	311	8	.	.	PUNCT
gujaf-22	311	9	)	)	PUNCT
gujaf-22	311	10	.	.	PUNCT
gujaf-22	312	1	cambridge	cambridge	PROPN
gujaf-22	312	2	:	:	PUNCT
gujaf-22	312	3	cambridge	cambridge	PROPN
gujaf-22	312	4	university	university	PROPN
gujaf-22	312	5	press	press	NOUN
gujaf-22	312	6	.	.	PUNCT
gujaf-22	313	1	brown	brown	PROPN
gujaf-22	313	2	,	,	PUNCT
gujaf-22	313	3	s.	s.	PROPN
gujaf-22	313	4	j.	j.	PROPN
gujaf-22	313	5	,	,	PUNCT
gujaf-22	313	6	&	&	CCONJ
gujaf-22	313	7	warner	warner	PROPN
gujaf-22	313	8	,	,	PUNCT
gujaf-22	313	9	j.	j.	PROPN
gujaf-22	313	10	b.	b.	PROPN
gujaf-22	313	11	(	(	PUNCT
gujaf-22	313	12	1985	1985	NUM
gujaf-22	313	13	)	)	PUNCT
gujaf-22	313	14	.	.	PUNCT
gujaf-22	314	1	using	use	VERB
gujaf-22	314	2	daily	daily	ADJ
gujaf-22	314	3	stock	stock	NOUN
gujaf-22	314	4	returns	return	NOUN
gujaf-22	314	5	:	:	PUNCT
gujaf-22	314	6	the	the	DET
gujaf-22	314	7	case	case	NOUN
gujaf-22	314	8	of	of	ADP
gujaf-22	314	9	event	event	NOUN
gujaf-22	314	10	studies	study	NOUN
gujaf-22	314	11	.	.	PUNCT
gujaf-22	315	1	journal	journal	PROPN
gujaf-22	315	2	of	of	ADP
gujaf-22	315	3	financial	financial	ADJ
gujaf-22	315	4	economics	economic	NOUN
gujaf-22	315	5	,	,	PUNCT
gujaf-22	315	6	14	14	NUM
gujaf-22	315	7	,	,	PUNCT
gujaf-22	315	8	3	3	NUM
gujaf-22	315	9	-	-	SYM
gujaf-22	315	10	31	31	NUM
gujaf-22	315	11	.	.	PUNCT
gujaf-22	316	1	chan	chan	PROPN
gujaf-22	316	2	,	,	PUNCT
gujaf-22	316	3	k.	k.	PROPN
gujaf-22	316	4	,	,	PUNCT
gujaf-22	316	5	&	&	CCONJ
gujaf-22	316	6	chan	chan	PROPN
gujaf-22	316	7	,	,	PUNCT
gujaf-22	316	8	y.	y.	PROPN
gujaf-22	316	9	(	(	PUNCT
gujaf-22	316	10	2014	2014	NUM
gujaf-22	316	11	)	)	PUNCT
gujaf-22	316	12	.	.	PUNCT
gujaf-22	317	1	price	price	NOUN
gujaf-22	317	2	informativeness	informativeness	NOUN
gujaf-22	317	3	and	and	CCONJ
gujaf-22	317	4	stock	stock	NOUN
gujaf-22	317	5	return	return	NOUN
gujaf-22	317	6	synchronicity	synchronicity	NOUN
gujaf-22	317	7	:	:	PUNCT
gujaf-22	317	8	evidence	evidence	NOUN
gujaf-22	317	9	from	from	ADP
gujaf-22	317	10	the	the	DET
gujaf-22	317	11	pricing	pricing	NOUN
gujaf-22	317	12	of	of	ADP
gujaf-22	317	13	seasoned	seasoned	ADJ
gujaf-22	317	14	equity	equity	NOUN
gujaf-22	317	15	offerings	offering	NOUN
gujaf-22	317	16	.	.	PUNCT
gujaf-22	318	1	journal	journal	NOUN
gujaf-22	318	2	of	of	ADP
gujaf-22	318	3	financial	financial	ADJ
gujaf-22	318	4	economics	economic	NOUN
gujaf-22	318	5	,	,	PUNCT
gujaf-22	318	6	114	114	NUM
gujaf-22	318	7	,	,	PUNCT
gujaf-22	318	8	36	36	NUM
gujaf-22	318	9	-	-	SYM
gujaf-22	318	10	53	53	NUM
gujaf-22	318	11	.	.	PUNCT
gujaf-22	319	1	d	d	X
gujaf-22	319	2	,	,	PUNCT
gujaf-22	319	3	avolio	avolio	NOUN
gujaf-22	319	4	,	,	PUNCT
gujaf-22	319	5	g.	g.	PROPN
gujaf-22	319	6	,	,	PUNCT
gujaf-22	319	7	gildor	gildor	PROPN
gujaf-22	319	8	,	,	PUNCT
gujaf-22	319	9	e.	e.	PROPN
gujaf-22	319	10	,	,	PUNCT
gujaf-22	319	11	&	&	CCONJ
gujaf-22	319	12	shleifer	shleifer	PROPN
gujaf-22	319	13	,	,	PUNCT
gujaf-22	319	14	a.	a.	NOUN
gujaf-22	319	15	(	(	PUNCT
gujaf-22	319	16	2001	2001	NUM
gujaf-22	319	17	)	)	PUNCT
gujaf-22	319	18	.	.	PUNCT
gujaf-22	320	1	technology	technology	NOUN
gujaf-22	320	2	,	,	PUNCT
gujaf-22	320	3	information	information	NOUN
gujaf-22	320	4	production	production	NOUN
gujaf-22	320	5	,	,	PUNCT
gujaf-22	320	6	and	and	CCONJ
gujaf-22	320	7	market	market	NOUN
gujaf-22	320	8	efficiency	efficiency	NOUN
gujaf-22	320	9	.	.	PUNCT
gujaf-22	321	1	working	work	VERB
gujaf-22	321	2	paper	paper	NOUN
gujaf-22	321	3	,	,	PUNCT
gujaf-22	321	4	harvard	harvard	PROPN
gujaf-22	321	5	university	university	PROPN
gujaf-22	321	6	.	.	PUNCT
gujaf-22	322	1	de	de	PROPN
gujaf-22	322	2	medeiros	medeiros	PROPN
gujaf-22	322	3	,	,	PUNCT
gujaf-22	322	4	o.	o.	PROPN
gujaf-22	322	5	,	,	PUNCT
gujaf-22	322	6	&	&	CCONJ
gujaf-22	322	7	matsumoto	matsumoto	PROPN
gujaf-22	322	8	,	,	PUNCT
gujaf-22	322	9	a.	a.	PROPN
gujaf-22	322	10	s.	s.	PROPN
gujaf-22	322	11	(	(	PUNCT
gujaf-22	322	12	2006	2006	NUM
gujaf-22	322	13	)	)	PUNCT
gujaf-22	322	14	.	.	PUNCT
gujaf-22	323	1	market	market	NOUN
gujaf-22	323	2	reaction	reaction	NOUN
gujaf-22	323	3	to	to	ADP
gujaf-22	323	4	stock	stock	NOUN
gujaf-22	323	5	issues	issue	NOUN
gujaf-22	323	6	in	in	ADP
gujaf-22	323	7	brazil	brazil	PROPN
gujaf-22	323	8	:	:	PUNCT
gujaf-22	323	9	insider	insider	NOUN
gujaf-22	323	10	trading	trading	NOUN
gujaf-22	323	11	,	,	PUNCT
gujaf-22	323	12	volatility	volatility	NOUN
gujaf-22	323	13	effects	effect	NOUN
gujaf-22	323	14	and	and	CCONJ
gujaf-22	323	15	the	the	DET
gujaf-22	323	16	new	new	ADJ
gujaf-22	323	17	issues	issue	NOUN
gujaf-22	323	18	puzzle	puzzle	VERB
gujaf-22	323	19	.	.	PUNCT
gujaf-22	324	1	investment	investment	NOUN
gujaf-22	324	2	management	management	NOUN
gujaf-22	324	3	and	and	CCONJ
gujaf-22	324	4	financial	financial	ADJ
gujaf-22	324	5	innovations	innovation	NOUN
gujaf-22	324	6	,	,	PUNCT
gujaf-22	324	7	3(1	3(1	NUM
gujaf-22	324	8	)	)	PUNCT
gujaf-22	324	9	,	,	PUNCT
gujaf-22	324	10	142	142	NUM
gujaf-22	324	11	-	-	SYM
gujaf-22	324	12	150	150	NUM
gujaf-22	324	13	.	.	PUNCT
gujaf-22	325	1	denis	denis	PROPN
gujaf-22	325	2	,	,	PUNCT
gujaf-22	325	3	d.	d.	PROPN
gujaf-22	325	4	j.	j.	PROPN
gujaf-22	325	5	(	(	PUNCT
gujaf-22	325	6	1994	1994	NUM
gujaf-22	325	7	)	)	PUNCT
gujaf-22	325	8	.	.	PUNCT
gujaf-22	326	1	investment	investment	NOUN
gujaf-22	326	2	opportunities	opportunity	NOUN
gujaf-22	326	3	and	and	CCONJ
gujaf-22	326	4	the	the	DET
gujaf-22	326	5	market	market	NOUN
gujaf-22	326	6	reaction	reaction	NOUN
gujaf-22	326	7	to	to	ADP
gujaf-22	326	8	equity	equity	NOUN
gujaf-22	326	9	offerings	offering	NOUN
gujaf-22	326	10	.	.	PUNCT
gujaf-22	327	1	journal	journal	NOUN
gujaf-22	327	2	of	of	ADP
gujaf-22	327	3	financial	financial	ADJ
gujaf-22	327	4	and	and	CCONJ
gujaf-22	327	5	quantitative	quantitative	ADJ
gujaf-22	327	6	analysis	analysis	NOUN
gujaf-22	327	7	,	,	PUNCT
gujaf-22	327	8	24(2	24(2	NUM
gujaf-22	327	9	)	)	PUNCT
gujaf-22	327	10	,	,	PUNCT
gujaf-22	327	11	159	159	NUM
gujaf-22	327	12	-	-	SYM
gujaf-22	327	13	177	177	NUM
gujaf-22	327	14	.	.	PUNCT
gujaf-22	328	1	http://mpra.ub.uni-muenchen.de/33931/	http://mpra.ub.uni-muenchen.de/33931/	PRON
gujaf-22	328	2	http://mpra.ub.uni-muenchen.de/33931/	http://mpra.ub.uni-muenchen.de/33931/	NUM
gujaf-22	328	3	gujaf	gujaf	NOUN
gujaf-22	328	4	:	:	PUNCT
gujaf-22	328	5	gusau	gusau	PROPN
gujaf-22	328	6	journal	journal	NOUN
gujaf-22	328	7	of	of	ADP
gujaf-22	328	8	accounting	accounting	NOUN
gujaf-22	328	9	and	and	CCONJ
gujaf-22	328	10	finance	finance	NOUN
gujaf-22	328	11	,	,	PUNCT
gujaf-22	328	12	vol	vol	NOUN
gujaf-22	328	13	.	.	PUNCT
gujaf-22	329	1	i	i	PRON
gujaf-22	329	2	,	,	PUNCT
gujaf-22	329	3	issue	issue	NOUN
gujaf-22	329	4	1	1	NUM
gujaf-22	329	5	,	,	PUNCT
gujaf-22	329	6	april	april	PROPN
gujaf-22	329	7	,	,	PUNCT
gujaf-22	329	8	2020	2020	NUM
gujaf-22	329	9	issn	issn	VERB
gujaf-22	329	10	2756	2756	NUM
gujaf-22	329	11	-	-	PUNCT
gujaf-22	329	12	665x	665x	NOUN
gujaf-22	329	13	20	20	NUM
gujaf-22	329	14	dissing	diss	VERB
gujaf-22	329	15	,	,	PUNCT
gujaf-22	329	16	j.	j.	PROPN
gujaf-22	329	17	,	,	PUNCT
gujaf-22	329	18	rassmussen	rassmussen	PROPN
gujaf-22	329	19	,	,	PUNCT
gujaf-22	329	20	k.	k.	PROPN
gujaf-22	329	21	,	,	PUNCT
gujaf-22	329	22	&	&	CCONJ
gujaf-22	329	23	bartholdy	bartholdy	PROPN
gujaf-22	329	24	j.	j.	PROPN
gujaf-22	329	25	(	(	PUNCT
gujaf-22	329	26	2015	2015	NUM
gujaf-22	329	27	)	)	PUNCT
gujaf-22	329	28	.	.	PUNCT
gujaf-22	330	1	are	be	AUX
gujaf-22	330	2	seasoned	season	VERB
gujaf-22	330	3	equity	equity	NOUN
gujaf-22	330	4	offerings	offering	NOUN
gujaf-22	330	5	bad	bad	ADJ
gujaf-22	330	6	news	news	NOUN
gujaf-22	330	7	?	?	PUNCT
gujaf-22	331	1	(	(	PUNCT
gujaf-22	331	2	unpublished	unpublished	ADJ
gujaf-22	331	3	master	master	NOUN
gujaf-22	331	4	thesis	thesis	NOUN
gujaf-22	331	5	)	)	PUNCT
gujaf-22	331	6	.	.	PUNCT
gujaf-22	332	1	aarhus	aarhus	PROPN
gujaf-22	332	2	university	university	PROPN
gujaf-22	332	3	.	.	PUNCT
gujaf-22	333	1	faghani	faghani	PROPN
gujaf-22	333	2	,	,	PUNCT
gujaf-22	333	3	f.	f.	PROPN
gujaf-22	333	4	,	,	PUNCT
gujaf-22	333	5	habibi	habibi	PROPN
gujaf-22	333	6	,	,	PUNCT
gujaf-22	333	7	s.	s.	PROPN
gujaf-22	333	8	,	,	PUNCT
gujaf-22	333	9	tabatabaee	tabatabaee	PROPN
gujaf-22	333	10	,	,	PUNCT
gujaf-22	333	11	s.	s.	PROPN
gujaf-22	333	12	m.	m.	PROPN
gujaf-22	333	13	,	,	PUNCT
gujaf-22	333	14	razavi	razavi	PROPN
gujaf-22	333	15	,	,	PUNCT
gujaf-22	333	16	l.	l.	PROPN
gujaf-22	333	17	,	,	PUNCT
gujaf-22	333	18	&	&	CCONJ
gujaf-22	333	19	emadzadeh	emadzadeh	PROPN
gujaf-22	333	20	,	,	PUNCT
gujaf-22	333	21	k.	k.	PROPN
gujaf-22	333	22	(	(	PUNCT
gujaf-22	333	23	2013	2013	NUM
gujaf-22	333	24	)	)	PUNCT
gujaf-22	333	25	.	.	PUNCT
gujaf-22	334	1	the	the	DET
gujaf-22	334	2	role	role	NOUN
gujaf-22	334	3	of	of	ADP
gujaf-22	334	4	information	information	NOUN
gujaf-22	334	5	technology	technology	NOUN
gujaf-22	334	6	on	on	ADP
gujaf-22	334	7	stock	stock	NOUN
gujaf-22	334	8	market	market	NOUN
gujaf-22	334	9	development	development	NOUN
gujaf-22	334	10	.	.	PUNCT
gujaf-22	335	1	international	international	ADJ
gujaf-22	335	2	journal	journal	PROPN
gujaf-22	335	3	of	of	ADP
gujaf-22	335	4	academic	academic	ADJ
gujaf-22	335	5	research	research	NOUN
gujaf-22	335	6	in	in	ADP
gujaf-22	335	7	accounting	accounting	NOUN
gujaf-22	335	8	,	,	PUNCT
gujaf-22	335	9	finance	finance	NOUN
gujaf-22	335	10	and	and	CCONJ
gujaf-22	335	11	management	management	NOUN
gujaf-22	335	12	sciences	science	NOUN
gujaf-22	335	13	,	,	PUNCT
gujaf-22	335	14	3(1	3(1	NUM
gujaf-22	335	15	)	)	PUNCT
gujaf-22	335	16	,	,	PUNCT
gujaf-22	335	17	353	353	NUM
gujaf-22	335	18	-	-	SYM
gujaf-22	335	19	358	358	NUM
gujaf-22	335	20	.	.	PUNCT
gujaf-22	336	1	fama	fama	PROPN
gujaf-22	336	2	,	,	PUNCT
gujaf-22	336	3	e.	e.	PROPN
gujaf-22	336	4	(	(	PUNCT
gujaf-22	336	5	1965	1965	NUM
gujaf-22	336	6	)	)	PUNCT
gujaf-22	336	7	.	.	PUNCT
gujaf-22	337	1	the	the	DET
gujaf-22	337	2	behavior	behavior	NOUN
gujaf-22	337	3	of	of	ADP
gujaf-22	337	4	stock	stock	NOUN
gujaf-22	337	5	market	market	NOUN
gujaf-22	337	6	prices	price	NOUN
gujaf-22	337	7	.	.	PUNCT
gujaf-22	338	1	journal	journal	PROPN
gujaf-22	338	2	of	of	ADP
gujaf-22	338	3	business	business	NOUN
gujaf-22	338	4	,	,	PUNCT
gujaf-22	338	5	38	38	NUM
gujaf-22	338	6	,	,	PUNCT
gujaf-22	338	7	34105	34105	NUM
gujaf-22	338	8	.	.	PUNCT
gujaf-22	339	1	fama	fama	PROPN
gujaf-22	339	2	,	,	PUNCT
gujaf-22	339	3	e.	e.	PROPN
gujaf-22	339	4	(	(	PUNCT
gujaf-22	339	5	1970	1970	NUM
gujaf-22	339	6	)	)	PUNCT
gujaf-22	339	7	.	.	PUNCT
gujaf-22	340	1	efficient	efficient	ADJ
gujaf-22	340	2	capital	capital	NOUN
gujaf-22	340	3	markets	market	NOUN
gujaf-22	340	4	:	:	PUNCT
gujaf-22	340	5	a	a	DET
gujaf-22	340	6	review	review	NOUN
gujaf-22	340	7	of	of	ADP
gujaf-22	340	8	theory	theory	NOUN
gujaf-22	340	9	and	and	CCONJ
gujaf-22	340	10	empirical	empirical	ADJ
gujaf-22	340	11	work	work	NOUN
gujaf-22	340	12	.	.	PUNCT
gujaf-22	341	1	journal	journal	PROPN
gujaf-22	341	2	of	of	ADP
gujaf-22	341	3	finance	finance	NOUN
gujaf-22	341	4	,	,	PUNCT
gujaf-22	341	5	25	25	NUM
gujaf-22	341	6	,	,	PUNCT
gujaf-22	341	7	383	383	NUM
gujaf-22	341	8	-	-	SYM
gujaf-22	341	9	417	417	NUM
gujaf-22	341	10	.	.	PUNCT
gujaf-22	342	1	fama	fama	PROPN
gujaf-22	342	2	,	,	PUNCT
gujaf-22	342	3	e.	e.	PROPN
gujaf-22	342	4	(	(	PUNCT
gujaf-22	342	5	1991	1991	NUM
gujaf-22	342	6	)	)	PUNCT
gujaf-22	342	7	.	.	PUNCT
gujaf-22	343	1	efficient	efficient	ADJ
gujaf-22	343	2	capital	capital	PROPN
gujaf-22	343	3	markets	markets	PROPN
gujaf-22	343	4	ii	ii	PROPN
gujaf-22	343	5	.	.	PROPN
gujaf-22	343	6	journal	journal	PROPN
gujaf-22	343	7	of	of	ADP
gujaf-22	343	8	finance	finance	NOUN
gujaf-22	343	9	,	,	PUNCT
gujaf-22	343	10	46	46	NUM
gujaf-22	343	11	,	,	PUNCT
gujaf-22	343	12	1575	1575	NUM
gujaf-22	343	13	-	-	SYM
gujaf-22	343	14	617	617	NUM
gujaf-22	343	15	.	.	PUNCT
gujaf-22	344	1	fama	fama	PROPN
gujaf-22	344	2	,	,	PUNCT
gujaf-22	344	3	e.	e.	PROPN
gujaf-22	344	4	(	(	PUNCT
gujaf-22	344	5	1998	1998	NUM
gujaf-22	344	6	)	)	PUNCT
gujaf-22	344	7	.	.	PUNCT
gujaf-22	345	1	market	market	NOUN
gujaf-22	345	2	efficiency	efficiency	NOUN
gujaf-22	345	3	,	,	PUNCT
gujaf-22	345	4	long	long	ADJ
gujaf-22	345	5	-	-	PUNCT
gujaf-22	345	6	term	term	NOUN
gujaf-22	345	7	returns	return	NOUN
gujaf-22	345	8	and	and	CCONJ
gujaf-22	345	9	behavioural	behavioural	ADJ
gujaf-22	345	10	finance	finance	NOUN
gujaf-22	345	11	.	.	PUNCT
gujaf-22	346	1	journal	journal	NOUN
gujaf-22	346	2	of	of	ADP
gujaf-22	346	3	financial	financial	ADJ
gujaf-22	346	4	economics	economic	NOUN
gujaf-22	346	5	,	,	PUNCT
gujaf-22	346	6	49	49	NUM
gujaf-22	346	7	,	,	PUNCT
gujaf-22	346	8	283	283	NUM
gujaf-22	346	9	-	-	SYM
gujaf-22	346	10	306	306	NUM
gujaf-22	346	11	.	.	PUNCT
gujaf-22	347	1	greene	greene	PROPN
gujaf-22	347	2	,	,	PUNCT
gujaf-22	347	3	h.	h.	PROPN
gujaf-22	347	4	(	(	PUNCT
gujaf-22	347	5	2003	2003	NUM
gujaf-22	347	6	)	)	PUNCT
gujaf-22	347	7	.	.	PUNCT
gujaf-22	348	1	econometric	econometric	ADJ
gujaf-22	348	2	analysis	analysis	NOUN
gujaf-22	348	3	(	(	PUNCT
gujaf-22	348	4	5th	5th	ADJ
gujaf-22	348	5	ed	ed	NOUN
gujaf-22	348	6	.	.	PUNCT
gujaf-22	348	7	)	)	PUNCT
gujaf-22	348	8	.	.	PUNCT
gujaf-22	349	1	new	new	PROPN
gujaf-22	349	2	jersey	jersey	PROPN
gujaf-22	349	3	:	:	PUNCT
gujaf-22	349	4	prentice	prentice	PROPN
gujaf-22	349	5	hall	hall	PROPN
gujaf-22	349	6	gujarati	gujarati	PROPN
gujaf-22	349	7	,	,	PUNCT
gujaf-22	349	8	d.n	d.n	PROPN
gujaf-22	349	9	.	.	PROPN
gujaf-22	349	10	(	(	PUNCT
gujaf-22	349	11	2003	2003	NUM
gujaf-22	349	12	)	)	PUNCT
gujaf-22	349	13	.	.	PUNCT
gujaf-22	350	1	basic	basic	ADJ
gujaf-22	350	2	econometrics	econometric	NOUN
gujaf-22	350	3	(	(	PUNCT
gujaf-22	350	4	4th	4th	ADJ
gujaf-22	350	5	ed	ed	NOUN
gujaf-22	350	6	.	.	PUNCT
gujaf-22	350	7	)	)	PUNCT
gujaf-22	350	8	.	.	PUNCT
gujaf-22	351	1	new	new	PROPN
gujaf-22	351	2	york	york	PROPN
gujaf-22	351	3	:	:	PUNCT
gujaf-22	351	4	mc	mc	PROPN
gujaf-22	351	5	graw	graw	PROPN
gujaf-22	351	6	-	-	PUNCT
gujaf-22	351	7	hill	hill	NOUN
gujaf-22	351	8	irwin	irwin	PROPN
gujaf-22	351	9	.	.	PUNCT
gujaf-22	352	1	hammar	hammar	PROPN
gujaf-22	352	2	,	,	PUNCT
gujaf-22	352	3	d.	d.	PROPN
gujaf-22	352	4	,	,	PUNCT
gujaf-22	352	5	&	&	CCONJ
gujaf-22	352	6	perman	perman	PROPN
gujaf-22	352	7	,	,	PUNCT
gujaf-22	352	8	o.	o.	PROPN
gujaf-22	352	9	(	(	PUNCT
gujaf-22	352	10	2015	2015	NUM
gujaf-22	352	11	)	)	PUNCT
gujaf-22	352	12	.	.	PUNCT
gujaf-22	353	1	a	a	DET
gujaf-22	353	2	quantitative	quantitative	ADJ
gujaf-22	353	3	analysis	analysis	NOUN
gujaf-22	353	4	of	of	ADP
gujaf-22	353	5	rights	right	NOUN
gujaf-22	353	6	offerings	offering	NOUN
gujaf-22	353	7	on	on	ADP
gujaf-22	353	8	the	the	DET
gujaf-22	353	9	swedish	swedish	ADJ
gujaf-22	353	10	market	market	NOUN
gujaf-22	353	11	(	(	PUNCT
gujaf-22	353	12	unpublished	unpublished	ADJ
gujaf-22	353	13	master	master	NOUN
gujaf-22	353	14	thesis	thesis	NOUN
gujaf-22	353	15	)	)	PUNCT
gujaf-22	353	16	.	.	PUNCT
gujaf-22	354	1	lund	lund	PROPN
gujaf-22	354	2	university	university	PROPN
gujaf-22	354	3	.	.	PUNCT
gujaf-22	355	1	huang	huang	PROPN
gujaf-22	355	2	,	,	PUNCT
gujaf-22	355	3	h.	h.	PROPN
gujaf-22	355	4	,	,	PUNCT
gujaf-22	355	5	&	&	CCONJ
gujaf-22	355	6	chiu	chiu	PROPN
gujaf-22	355	7	,	,	PUNCT
gujaf-22	355	8	h.	h.	PROPN
gujaf-22	355	9	(	(	PUNCT
gujaf-22	355	10	2017	2017	NUM
gujaf-22	355	11	)	)	PUNCT
gujaf-22	355	12	.	.	PUNCT
gujaf-22	356	1	insider	insider	NOUN
gujaf-22	356	2	trading	trading	NOUN
gujaf-22	356	3	and	and	CCONJ
gujaf-22	356	4	the	the	DET
gujaf-22	356	5	classification	classification	NOUN
gujaf-22	356	6	of	of	ADP
gujaf-22	356	7	seasoned	seasoned	ADJ
gujaf-22	356	8	equity	equity	NOUN
gujaf-22	356	9	offerings	offering	NOUN
gujaf-22	356	10	:	:	PUNCT
gujaf-22	356	11	evidence	evidence	NOUN
gujaf-22	356	12	from	from	ADP
gujaf-22	356	13	taiwan	taiwan	PROPN
gujaf-22	356	14	.	.	PUNCT
gujaf-22	357	1	international	international	ADJ
gujaf-22	357	2	journal	journal	PROPN
gujaf-22	357	3	of	of	ADP
gujaf-22	357	4	economics	economic	NOUN
gujaf-22	357	5	and	and	CCONJ
gujaf-22	357	6	finance	finance	NOUN
gujaf-22	357	7	,	,	PUNCT
gujaf-22	357	8	9(5	9(5	NUM
gujaf-22	357	9	)	)	PUNCT
gujaf-22	357	10	,	,	PUNCT
gujaf-22	357	11	58	58	NUM
gujaf-22	357	12	-	-	SYM
gujaf-22	357	13	70	70	NUM
gujaf-22	357	14	.	.	PUNCT
gujaf-22	358	1	jensen	jensen	PROPN
gujaf-22	358	2	,	,	PUNCT
gujaf-22	358	3	m.	m.	PROPN
gujaf-22	358	4	c.	c.	PROPN
gujaf-22	358	5	(	(	PUNCT
gujaf-22	358	6	1986	1986	NUM
gujaf-22	358	7	)	)	PUNCT
gujaf-22	358	8	.	.	PUNCT
gujaf-22	359	1	agency	agency	NOUN
gujaf-22	359	2	costs	cost	NOUN
gujaf-22	359	3	of	of	ADP
gujaf-22	359	4	free	free	ADJ
gujaf-22	359	5	cash	cash	NOUN
gujaf-22	359	6	flow	flow	NOUN
gujaf-22	359	7	,	,	PUNCT
gujaf-22	359	8	corporate	corporate	ADJ
gujaf-22	359	9	finance	finance	NOUN
gujaf-22	359	10	and	and	CCONJ
gujaf-22	359	11	the	the	DET
gujaf-22	359	12	market	market	NOUN
gujaf-22	359	13	for	for	ADP
gujaf-22	359	14	t	t	NOUN
gujaf-22	359	15	akeovers	akeover	NOUN
gujaf-22	359	16	.	.	PUNCT
gujaf-22	360	1	american	american	PROPN
gujaf-22	360	2	economic	economic	PROPN
gujaf-22	360	3	review	review	PROPN
gujaf-22	360	4	,	,	PUNCT
gujaf-22	360	5	76	76	NUM
gujaf-22	360	6	,	,	PUNCT
gujaf-22	360	7	323	323	NUM
gujaf-22	360	8	-	-	SYM
gujaf-22	360	9	329	329	NUM
gujaf-22	360	10	.	.	PUNCT
gujaf-22	361	1	kim	kim	PROPN
gujaf-22	361	2	w.	w.	PROPN
gujaf-22	361	3	,	,	PUNCT
gujaf-22	361	4	&	&	CCONJ
gujaf-22	361	5	weisbach	weisbach	NOUN
gujaf-22	361	6	,	,	PUNCT
gujaf-22	361	7	m.	m.	NOUN
gujaf-22	361	8	s.	s.	PROPN
gujaf-22	361	9	(	(	PUNCT
gujaf-22	361	10	2008	2008	NUM
gujaf-22	361	11	)	)	PUNCT
gujaf-22	361	12	.	.	PUNCT
gujaf-22	362	1	motivations	motivation	NOUN
gujaf-22	362	2	for	for	ADP
gujaf-22	362	3	public	public	ADJ
gujaf-22	362	4	equity	equity	NOUN
gujaf-22	362	5	offers	offer	NOUN
gujaf-22	362	6	:	:	PUNCT
gujaf-22	362	7	an	an	DET
gujaf-22	362	8	international	international	ADJ
gujaf-22	362	9	perspective	perspective	NOUN
gujaf-22	362	10	.	.	PUNCT
gujaf-22	363	1	journal	journal	NOUN
gujaf-22	363	2	of	of	ADP
gujaf-22	363	3	financial	financial	ADJ
gujaf-22	363	4	economics	economic	NOUN
gujaf-22	363	5	,	,	PUNCT
gujaf-22	363	6	87	87	NUM
gujaf-22	363	7	,	,	PUNCT
gujaf-22	363	8	281	281	NUM
gujaf-22	363	9	-	-	SYM
gujaf-22	363	10	307	307	NUM
gujaf-22	363	11	kumar	kumar	PROPN
gujaf-22	363	12	,	,	PUNCT
gujaf-22	363	13	k.	k.	PROPN
gujaf-22	363	14	r.	r.	PROPN
gujaf-22	363	15	n.	n.	PROPN
gujaf-22	363	16	,	,	PUNCT
gujaf-22	363	17	hawaldar	hawaldar	NOUN
gujaf-22	363	18	,	,	PUNCT
gujaf-22	363	19	i.	i.	PROPN
gujaf-22	363	20	t.	t.	PROPN
gujaf-22	363	21	,	,	PUNCT
gujaf-22	363	22	&	&	CCONJ
gujaf-22	363	23	mallikarjunappa	mallikarjunappa	PROPN
gujaf-22	363	24	,	,	PUNCT
gujaf-22	363	25	t.	t.	PROPN
gujaf-22	363	26	(	(	PUNCT
gujaf-22	363	27	2018	2018	NUM
gujaf-22	363	28	)	)	PUNCT
gujaf-22	363	29	.	.	PUNCT
gujaf-22	364	1	windows	window	NOUN
gujaf-22	364	2	of	of	ADP
gujaf-22	364	3	opportunity	opportunity	NOUN
gujaf-22	364	4	and	and	CCONJ
gujaf-22	364	5	seasoned	seasoned	ADJ
gujaf-22	364	6	equity	equity	NOUN
gujaf-22	364	7	offerings	offering	NOUN
gujaf-22	364	8	:	:	PUNCT
gujaf-22	364	9	an	an	DET
gujaf-22	364	10	empirical	empirical	ADJ
gujaf-22	364	11	study	study	NOUN
gujaf-22	364	12	.	.	PUNCT
gujaf-22	365	1	cogent	cogent	NOUN
gujaf-22	365	2	economics	economic	NOUN
gujaf-22	365	3	and	and	CCONJ
gujaf-22	365	4	finance	finance	NOUN
gujaf-22	365	5	,	,	PUNCT
gujaf-22	365	6	6	6	NUM
gujaf-22	365	7	,	,	PUNCT
gujaf-22	365	8	1528688	1528688	NUM
gujaf-22	365	9	.	.	PUNCT
gujaf-22	366	1	https://doi.org/10.1080/23322039.2018.1528688	https://doi.org/10.1080/23322039.2018.1528688	PROPN
gujaf-22	367	1	lee	lee	PROPN
gujaf-22	367	2	,	,	PUNCT
gujaf-22	367	3	m.	m.	NOUN
gujaf-22	367	4	,	,	PUNCT
gujaf-22	367	5	tsai	tsai	PROPN
gujaf-22	367	6	,	,	PUNCT
gujaf-22	367	7	t.	t.	PROPN
gujaf-22	367	8	,	,	PUNCT
gujaf-22	367	9	chen	chen	PROPN
gujaf-22	367	10	,	,	PUNCT
gujaf-22	367	11	j.	j.	PROPN
gujaf-22	367	12	,	,	PUNCT
gujaf-22	367	13	&	&	CCONJ
gujaf-22	367	14	lio	lio	PROPN
gujaf-22	367	15	,	,	PUNCT
gujaf-22	367	16	m.	m.	NOUN
gujaf-22	367	17	(	(	PUNCT
gujaf-22	367	18	2019	2019	NUM
gujaf-22	367	19	)	)	PUNCT
gujaf-22	367	20	.	.	PUNCT
gujaf-22	368	1	can	can	AUX
gujaf-22	368	2	information	information	NOUN
gujaf-22	368	3	and	and	CCONJ
gujaf-22	368	4	communication	communication	NOUN
gujaf-22	368	5	technology	technology	NOUN
gujaf-22	368	6	improve	improve	VERB
gujaf-22	368	7	stock	stock	NOUN
gujaf-22	368	8	market	market	NOUN
gujaf-22	368	9	efficiency	efficiency	NOUN
gujaf-22	368	10	?	?	PUNCT
gujaf-22	369	1	a	a	DET
gujaf-22	369	2	cross	cross	ADJ
gujaf-22	369	3	-	-	ADJ
gujaf-22	369	4	country	country	ADJ
gujaf-22	369	5	study	study	NOUN
gujaf-22	369	6	.	.	PUNCT
gujaf-22	370	1	bulletin	bulletin	NOUN
gujaf-22	370	2	of	of	ADP
gujaf-22	370	3	economic	economic	ADJ
gujaf-22	370	4	research	research	NOUN
gujaf-22	370	5	,	,	PUNCT
gujaf-22	370	6	71(2	71(2	NUM
gujaf-22	370	7	)	)	PUNCT
gujaf-22	370	8	,	,	PUNCT
gujaf-22	370	9	113	113	NUM
gujaf-22	370	10	-	-	SYM
gujaf-22	370	11	135	135	NUM
gujaf-22	370	12	.	.	PUNCT
gujaf-22	371	1	lee	lee	PROPN
gujaf-22	371	2	,	,	PUNCT
gujaf-22	371	3	s.	s.	PROPN
gujaf-22	371	4	,	,	PUNCT
gujaf-22	371	5	alford	alford	PROPN
gujaf-22	371	6	,	,	PUNCT
gujaf-22	371	7	m.	m.	NOUN
gujaf-22	371	8	,	,	PUNCT
gujaf-22	371	9	&	&	CCONJ
gujaf-22	371	10	cresson	cresson	PROPN
gujaf-22	371	11	,	,	PUNCT
gujaf-22	371	12	j.	j.	PROPN
gujaf-22	371	13	(	(	PUNCT
gujaf-22	371	14	2017	2017	NUM
gujaf-22	371	15	)	)	PUNCT
gujaf-22	371	16	.	.	PUNCT
gujaf-22	372	1	the	the	DET
gujaf-22	372	2	effects	effect	NOUN
gujaf-22	372	3	of	of	ADP
gujaf-22	372	4	information	information	NOUN
gujaf-22	372	5	communication	communication	NOUN
gujaf-22	372	6	technology	technology	NOUN
gujaf-22	372	7	on	on	ADP
gujaf-22	372	8	stock	stock	NOUN
gujaf-22	372	9	market	market	NOUN
gujaf-22	372	10	capitalization	capitalization	NOUN
gujaf-22	372	11	:	:	PUNCT
gujaf-22	372	12	a	a	DET
gujaf-22	372	13	panel	panel	NOUN
gujaf-22	372	14	data	data	VERB
gujaf-22	372	15	analysis	analysis	NOUN
gujaf-22	372	16	.	.	PUNCT
gujaf-22	373	1	business	business	NOUN
gujaf-22	373	2	and	and	CCONJ
gujaf-22	373	3	economic	economic	ADJ
gujaf-22	373	4	research	research	NOUN
gujaf-22	373	5	,	,	PUNCT
gujaf-22	373	6	7(1	7(1	NUM
gujaf-22	373	7	)	)	PUNCT
gujaf-22	373	8	,	,	PUNCT
gujaf-22	373	9	261	261	NUM
gujaf-22	373	10	-	-	SYM
gujaf-22	373	11	272	272	NUM
gujaf-22	373	12	.	.	PUNCT
gujaf-22	374	1	leland	leland	PROPN
gujaf-22	374	2	,	,	PUNCT
gujaf-22	374	3	h.	h.	PROPN
gujaf-22	374	4	e.	e.	PROPN
gujaf-22	374	5	,	,	PUNCT
gujaf-22	374	6	&	&	CCONJ
gujaf-22	374	7	pyle	pyle	PROPN
gujaf-22	374	8	,	,	PUNCT
gujaf-22	374	9	d.h	d.h	PROPN
gujaf-22	374	10	.	.	PROPN
gujaf-22	374	11	(	(	PUNCT
gujaf-22	374	12	1977	1977	NUM
gujaf-22	374	13	)	)	PUNCT
gujaf-22	374	14	.	.	PUNCT
gujaf-22	375	1	information	information	NOUN
gujaf-22	375	2	asymmetries	asymmetry	NOUN
gujaf-22	375	3	,	,	PUNCT
gujaf-22	375	4	financial	financial	ADJ
gujaf-22	375	5	structure	structure	NOUN
gujaf-22	375	6	,	,	PUNCT
gujaf-22	375	7	and	and	CCONJ
gujaf-22	375	8	financial	financial	ADJ
gujaf-22	375	9	intermediation	intermediation	NOUN
gujaf-22	375	10	.	.	PUNCT
gujaf-22	376	1	the	the	DET
gujaf-22	376	2	journal	journal	PROPN
gujaf-22	376	3	of	of	ADP
gujaf-22	376	4	finance	finance	NOUN
gujaf-22	376	5	,	,	PUNCT
gujaf-22	376	6	32(2	32(2	NUM
gujaf-22	376	7	)	)	PUNCT
gujaf-22	376	8	,	,	PUNCT
gujaf-22	376	9	371	371	NUM
gujaf-22	376	10	-	-	SYM
gujaf-22	376	11	387	387	NUM
gujaf-22	376	12	.	.	PUNCT
gujaf-22	377	1	https://doi.org/10.1080/23322039.2018.1528688	https://doi.org/10.1080/23322039.2018.1528688	NOUN
gujaf-22	377	2	gujaf	gujaf	NOUN
gujaf-22	377	3	:	:	PUNCT
gujaf-22	377	4	gusau	gusau	PROPN
gujaf-22	377	5	journal	journal	NOUN
gujaf-22	377	6	of	of	ADP
gujaf-22	377	7	accounting	accounting	NOUN
gujaf-22	377	8	and	and	CCONJ
gujaf-22	377	9	finance	finance	NOUN
gujaf-22	377	10	,	,	PUNCT
gujaf-22	377	11	vol	vol	NOUN
gujaf-22	377	12	.	.	PUNCT
gujaf-22	378	1	i	i	PRON
gujaf-22	378	2	,	,	PUNCT
gujaf-22	378	3	issue	issue	NOUN
gujaf-22	378	4	1	1	NUM
gujaf-22	378	5	,	,	PUNCT
gujaf-22	378	6	april	april	PROPN
gujaf-22	378	7	,	,	PUNCT
gujaf-22	378	8	2020	2020	NUM
gujaf-22	378	9	issn	issn	PROPN
gujaf-22	378	10	2756	2756	NUM
gujaf-22	378	11	-	-	PUNCT
gujaf-22	378	12	665x	665x	PROPN
gujaf-22	378	13	21	21	NUM
gujaf-22	378	14	liu	liu	PROPN
gujaf-22	378	15	,	,	PUNCT
gujaf-22	378	16	j.	j.	PROPN
gujaf-22	378	17	,	,	PUNCT
gujaf-22	378	18	akbar	akbar	NOUN
gujaf-22	378	19	,	,	PUNCT
gujaf-22	378	20	s.	s.	PROPN
gujaf-22	378	21	,	,	PUNCT
gujaf-22	378	22	shah	shah	PROPN
gujaf-22	378	23	,	,	PUNCT
gujaf-22	378	24	s.	s.	PROPN
gujaf-22	378	25	z.	z.	PROPN
gujaf-22	378	26	a.	a.	PROPN
gujaf-22	378	27	,	,	PUNCT
gujaf-22	378	28	zhang	zhang	PROPN
gujaf-22	378	29	,	,	PUNCT
gujaf-22	378	30	d.	d.	PROPN
gujaf-22	378	31	,	,	PUNCT
gujaf-22	378	32	&	&	CCONJ
gujaf-22	378	33	pang	pang	PROPN
gujaf-22	378	34	,	,	PUNCT
gujaf-22	378	35	d.	d.	PROPN
gujaf-22	378	36	(	(	PUNCT
gujaf-22	378	37	2016	2016	NUM
gujaf-22	378	38	)	)	PUNCT
gujaf-22	378	39	.	.	PUNCT
gujaf-22	379	1	market	market	NOUN
gujaf-22	379	2	reaction	reaction	NOUN
gujaf-22	379	3	to	to	ADP
gujaf-22	379	4	seasoned	season	VERB
gujaf-22	379	5	offerings	offering	NOUN
gujaf-22	379	6	in	in	ADP
gujaf-22	379	7	china	china	PROPN
gujaf-22	379	8	.	.	PUNCT
gujaf-22	380	1	journal	journal	PROPN
gujaf-22	380	2	of	of	ADP
gujaf-22	380	3	business	business	NOUN
gujaf-22	380	4	finance	finance	NOUN
gujaf-22	380	5	and	and	CCONJ
gujaf-22	380	6	accounting	accounting	NOUN
gujaf-22	380	7	,	,	PUNCT
gujaf-22	380	8	43(5&6	43(5&6	NUM
gujaf-22	380	9	)	)	PUNCT
gujaf-22	380	10	,	,	PUNCT
gujaf-22	380	11	597	597	NUM
gujaf-22	380	12	-	-	SYM
gujaf-22	380	13	653	653	NUM
gujaf-22	380	14	.	.	PUNCT
gujaf-22	380	15	mackinlay	mackinlay	PROPN
gujaf-22	380	16	,	,	PUNCT
gujaf-22	380	17	a.	a.	PROPN
gujaf-22	380	18	c.	c.	PROPN
gujaf-22	380	19	(	(	PUNCT
gujaf-22	380	20	1997	1997	NUM
gujaf-22	380	21	)	)	PUNCT
gujaf-22	380	22	.	.	PUNCT
gujaf-22	381	1	event	event	NOUN
gujaf-22	381	2	studies	study	NOUN
gujaf-22	381	3	in	in	ADP
gujaf-22	381	4	economics	economic	NOUN
gujaf-22	381	5	and	and	CCONJ
gujaf-22	381	6	finance	finance	NOUN
gujaf-22	381	7	.	.	PUNCT
gujaf-22	382	1	journal	journal	NOUN
gujaf-22	382	2	of	of	ADP
gujaf-22	382	3	economic	economic	ADJ
gujaf-22	382	4	literature	literature	NOUN
gujaf-22	382	5	,	,	PUNCT
gujaf-22	382	6	35(1	35(1	NUM
gujaf-22	382	7	)	)	PUNCT
gujaf-22	382	8	,	,	PUNCT
gujaf-22	382	9	13	13	NUM
gujaf-22	382	10	-	-	SYM
gujaf-22	382	11	39	39	NUM
gujaf-22	382	12	.	.	PUNCT
gujaf-22	383	1	mwalya	mwalya	ADJ
gujaf-22	383	2	,	,	PUNCT
gujaf-22	383	3	c.	c.	PROPN
gujaf-22	383	4	k.	k.	PROPN
gujaf-22	383	5	(	(	PUNCT
gujaf-22	383	6	2010	2010	NUM
gujaf-22	383	7	)	)	PUNCT
gujaf-22	383	8	.	.	PUNCT
gujaf-22	384	1	the	the	DET
gujaf-22	384	2	impact	impact	NOUN
gujaf-22	384	3	of	of	ADP
gujaf-22	384	4	information	information	NOUN
gujaf-22	384	5	communication	communication	NOUN
gujaf-22	384	6	technology	technology	NOUN
gujaf-22	384	7	on	on	ADP
gujaf-22	384	8	stock	stock	NOUN
gujaf-22	384	9	returns	return	NOUN
gujaf-22	384	10	and	and	CCONJ
gujaf-22	384	11	trading	trading	NOUN
gujaf-22	384	12	volumes	volume	NOUN
gujaf-22	384	13	for	for	ADP
gujaf-22	384	14	companies	company	NOUN
gujaf-22	384	15	quoted	quote	VERB
gujaf-22	384	16	at	at	ADP
gujaf-22	384	17	the	the	DET
gujaf-22	384	18	nairobi	nairobi	PROPN
gujaf-22	384	19	stock	stock	PROPN
gujaf-22	384	20	exchange	exchange	PROPN
gujaf-22	384	21	(	(	PUNCT
gujaf-22	384	22	unpublished	unpublished	ADJ
gujaf-22	384	23	master	master	NOUN
gujaf-22	384	24	thesis	thesis	NOUN
gujaf-22	384	25	)	)	PUNCT
gujaf-22	384	26	.	.	PUNCT
gujaf-22	385	1	university	university	PROPN
gujaf-22	385	2	of	of	ADP
gujaf-22	385	3	nairobi	nairobi	PROPN
gujaf-22	385	4	.	.	PUNCT
gujaf-22	386	1	myers	myers	PROPN
gujaf-22	386	2	,	,	PUNCT
gujaf-22	386	3	s.	s.	PROPN
gujaf-22	386	4	c.	c.	PROPN
gujaf-22	386	5	,	,	PUNCT
gujaf-22	386	6	&	&	CCONJ
gujaf-22	386	7	majluf	majluf	PROPN
gujaf-22	386	8	,	,	PUNCT
gujaf-22	386	9	n.s	n.s	PROPN
gujaf-22	386	10	.	.	PROPN
gujaf-22	386	11	(	(	PUNCT
gujaf-22	386	12	1984	1984	NUM
gujaf-22	386	13	)	)	PUNCT
gujaf-22	386	14	.	.	PUNCT
gujaf-22	387	1	corporate	corporate	ADJ
gujaf-22	387	2	financing	financing	NOUN
gujaf-22	387	3	and	and	CCONJ
gujaf-22	387	4	investment	investment	NOUN
gujaf-22	387	5	decisions	decision	NOUN
gujaf-22	387	6	when	when	SCONJ
gujaf-22	387	7	firms	firm	NOUN
gujaf-22	387	8	have	have	VERB
gujaf-22	387	9	information	information	NOUN
gujaf-22	387	10	that	that	SCONJ
gujaf-22	387	11	investors	investor	NOUN
gujaf-22	387	12	do	do	AUX
gujaf-22	387	13	not	not	PART
gujaf-22	387	14	have	have	VERB
gujaf-22	387	15	.	.	PUNCT
gujaf-22	388	1	journal	journal	NOUN
gujaf-22	388	2	of	of	ADP
gujaf-22	388	3	financial	financial	ADJ
gujaf-22	388	4	economics	economic	NOUN
gujaf-22	388	5	,	,	PUNCT
gujaf-22	388	6	13(2	13(2	PROPN
gujaf-22	388	7	)	)	PUNCT
gujaf-22	388	8	,	,	PUNCT
gujaf-22	388	9	187	187	NUM
gujaf-22	388	10	-	-	SYM
gujaf-22	388	11	221	221	NUM
gujaf-22	388	12	.	.	PUNCT
gujaf-22	389	1	odeleye	odeleye	NOUN
gujaf-22	389	2	,	,	PUNCT
gujaf-22	389	3	a.	a.	NOUN
gujaf-22	389	4	t.	t.	PROPN
gujaf-22	389	5	(	(	PUNCT
gujaf-22	389	6	2009	2009	NUM
gujaf-22	389	7	)	)	PUNCT
gujaf-22	389	8	.	.	PUNCT
gujaf-22	390	1	the	the	DET
gujaf-22	390	2	effects	effect	NOUN
gujaf-22	390	3	of	of	ADP
gujaf-22	390	4	automation	automation	NOUN
gujaf-22	390	5	on	on	ADP
gujaf-22	390	6	price	price	NOUN
gujaf-22	390	7	and	and	CCONJ
gujaf-22	390	8	volume	volume	NOUN
gujaf-22	390	9	of	of	ADP
gujaf-22	390	10	stocks	stock	NOUN
gujaf-22	390	11	in	in	ADP
gujaf-22	390	12	the	the	DET
gujaf-22	390	13	nigerian	nigerian	ADJ
gujaf-22	390	14	capital	capital	NOUN
gujaf-22	390	15	market	market	NOUN
gujaf-22	390	16	.	.	PUNCT
gujaf-22	391	1	finance	finance	NOUN
gujaf-22	391	2	&	&	CCONJ
gujaf-22	391	3	banking	banking	PROPN
gujaf-22	391	4	review	review	PROPN
gujaf-22	391	5	,	,	PUNCT
gujaf-22	391	6	3(1&2	3(1&2	NUM
gujaf-22	391	7	)	)	PUNCT
gujaf-22	391	8	,	,	PUNCT
gujaf-22	391	9	1	1	NUM
gujaf-22	391	10	-	-	SYM
gujaf-22	391	11	18	18	NUM
gujaf-22	391	12	.	.	PUNCT
gujaf-22	391	13	olowe	olowe	PROPN
gujaf-22	391	14	,	,	PUNCT
gujaf-22	391	15	r.	r.	PROPN
gujaf-22	391	16	a.	a.	PROPN
gujaf-22	391	17	(	(	PUNCT
gujaf-22	391	18	1998	1998	NUM
gujaf-22	391	19	)	)	PUNCT
gujaf-22	391	20	.	.	PUNCT
gujaf-22	392	1	stock	stock	NOUN
gujaf-22	392	2	splits	split	VERB
gujaf-22	392	3	and	and	CCONJ
gujaf-22	392	4	efficiency	efficiency	NOUN
gujaf-22	392	5	of	of	ADP
gujaf-22	392	6	the	the	DET
gujaf-22	392	7	nigerian	nigerian	ADJ
gujaf-22	392	8	stock	stock	NOUN
gujaf-22	392	9	market	market	NOUN
gujaf-22	392	10	.	.	PUNCT
gujaf-22	393	1	african	african	ADJ
gujaf-22	393	2	review	review	NOUN
gujaf-22	393	3	of	of	ADP
gujaf-22	393	4	money	money	NOUN
gujaf-22	393	5	,	,	PUNCT
gujaf-22	393	6	finance	finance	NOUN
gujaf-22	393	7	and	and	CCONJ
gujaf-22	393	8	banking	banking	NOUN
gujaf-22	393	9	,	,	PUNCT
gujaf-22	393	10	1(1	1(1	NUM
gujaf-22	393	11	)	)	PUNCT
gujaf-22	393	12	,	,	PUNCT
gujaf-22	393	13	97	97	NUM
gujaf-22	393	14	-	-	SYM
gujaf-22	393	15	125	125	NUM
gujaf-22	393	16	.	.	PUNCT
gujaf-22	393	17	olowe	olowe	PROPN
gujaf-22	393	18	,	,	PUNCT
gujaf-22	393	19	r.	r.	PROPN
gujaf-22	393	20	a.	a.	PROPN
gujaf-22	393	21	(	(	PUNCT
gujaf-22	393	22	2009	2009	NUM
gujaf-22	393	23	)	)	PUNCT
gujaf-22	393	24	.	.	PUNCT
gujaf-22	394	1	the	the	DET
gujaf-22	394	2	impact	impact	NOUN
gujaf-22	394	3	of	of	ADP
gujaf-22	394	4	the	the	DET
gujaf-22	394	5	introduction	introduction	NOUN
gujaf-22	394	6	of	of	ADP
gujaf-22	394	7	the	the	DET
gujaf-22	394	8	automated	automate	VERB
gujaf-22	394	9	trading	trading	NOUN
gujaf-22	394	10	system	system	NOUN
gujaf-22	394	11	on	on	ADP
gujaf-22	394	12	the	the	DET
gujaf-22	394	13	nigerian	nigerian	ADJ
gujaf-22	394	14	stock	stock	NOUN
gujaf-22	394	15	market	market	NOUN
gujaf-22	394	16	.	.	PUNCT
gujaf-22	395	1	journal	journal	PROPN
gujaf-22	395	2	of	of	ADP
gujaf-22	395	3	business	business	NOUN
gujaf-22	395	4	research	research	NOUN
gujaf-22	395	5	,	,	PUNCT
gujaf-22	395	6	3(12	3(12	NUM
gujaf-22	395	7	)	)	PUNCT
gujaf-22	395	8	,	,	PUNCT
gujaf-22	395	9	54	54	NUM
gujaf-22	395	10	-	-	SYM
gujaf-22	395	11	68	68	NUM
gujaf-22	395	12	.	.	PUNCT
gujaf-22	396	1	omuchesi	omuchesi	PROPN
gujaf-22	396	2	,	,	PUNCT
gujaf-22	396	3	j.	j.	PROPN
gujaf-22	396	4	a.	a.	PROPN
gujaf-22	396	5	,	,	PUNCT
gujaf-22	396	6	bosire	bosire	NOUN
gujaf-22	396	7	,	,	PUNCT
gujaf-22	396	8	m.	m.	NOUN
gujaf-22	396	9	,	,	PUNCT
gujaf-22	396	10	&	&	CCONJ
gujaf-22	396	11	muiru	muiru	PROPN
gujaf-22	396	12	,	,	PUNCT
gujaf-22	396	13	m.	m.	NOUN
gujaf-22	396	14	(	(	PUNCT
gujaf-22	396	15	2014	2014	NUM
gujaf-22	396	16	)	)	PUNCT
gujaf-22	396	17	.	.	PUNCT
gujaf-22	397	1	the	the	DET
gujaf-22	397	2	effect	effect	NOUN
gujaf-22	397	3	of	of	ADP
gujaf-22	397	4	automation	automation	NOUN
gujaf-22	397	5	on	on	ADP
gujaf-22	397	6	stock	stock	NOUN
gujaf-22	397	7	market	market	NOUN
gujaf-22	397	8	efficiency	efficiency	NOUN
gujaf-22	397	9	:	:	PUNCT
gujaf-22	397	10	a	a	DET
gujaf-22	397	11	case	case	NOUN
gujaf-22	397	12	of	of	ADP
gujaf-22	397	13	nairobi	nairobi	PROPN
gujaf-22	397	14	securities	security	NOUN
gujaf-22	397	15	exchange	exchange	PROPN
gujaf-22	397	16	.	.	PUNCT
gujaf-22	398	1	research	research	NOUN
gujaf-22	398	2	journal	journal	PROPN
gujaf-22	398	3	of	of	ADP
gujaf-22	398	4	finance	finance	NOUN
gujaf-22	398	5	and	and	CCONJ
gujaf-22	398	6	accounting	accounting	NOUN
gujaf-22	398	7	,	,	PUNCT
gujaf-22	398	8	5(17	5(17	NUM
gujaf-22	398	9	)	)	PUNCT
gujaf-22	398	10	,	,	PUNCT
gujaf-22	398	11	212	212	NUM
gujaf-22	398	12	-	-	SYM
gujaf-22	398	13	224	224	NUM
gujaf-22	398	14	.	.	PUNCT
gujaf-22	399	1	owido	owido	PROPN
gujaf-22	399	2	,	,	PUNCT
gujaf-22	399	3	p.	p.	PROPN
gujaf-22	399	4	k.	k.	PROPN
gujaf-22	399	5	,	,	PUNCT
gujaf-22	399	6	bichnaga	bichnaga	PROPN
gujaf-22	399	7	,	,	PUNCT
gujaf-22	399	8	w.	w.	PROPN
gujaf-22	399	9	o.	o.	PROPN
gujaf-22	399	10	,	,	PUNCT
gujaf-22	399	11	&	&	CCONJ
gujaf-22	399	12	muiruri	muiruri	PROPN
gujaf-22	399	13	,	,	PUNCT
gujaf-22	399	14	m.	m.	NOUN
gujaf-22	399	15	(	(	PUNCT
gujaf-22	399	16	2014	2014	NUM
gujaf-22	399	17	)	)	PUNCT
gujaf-22	399	18	.	.	PUNCT
gujaf-22	400	1	ict	ict	PROPN
gujaf-22	400	2	and	and	CCONJ
gujaf-22	400	3	market	market	NOUN
gujaf-22	400	4	efficiency	efficiency	NOUN
gujaf-22	400	5	:	:	PUNCT
gujaf-22	400	6	a	a	DET
gujaf-22	400	7	case	case	NOUN
gujaf-22	400	8	study	study	NOUN
gujaf-22	400	9	of	of	ADP
gujaf-22	400	10	nairobi	nairobi	PROPN
gujaf-22	400	11	securities	securities	PROPN
gujaf-22	400	12	exchange	exchange	PROPN
gujaf-22	400	13	.	.	PUNCT
gujaf-22	401	1	european	european	ADJ
gujaf-22	401	2	journal	journal	PROPN
gujaf-22	401	3	of	of	ADP
gujaf-22	401	4	business	business	NOUN
gujaf-22	401	5	and	and	CCONJ
gujaf-22	401	6	management	management	NOUN
gujaf-22	401	7	,	,	PUNCT
gujaf-22	401	8	6(29	6(29	NUM
gujaf-22	401	9	)	)	PUNCT
gujaf-22	401	10	,	,	PUNCT
gujaf-22	401	11	76	76	NUM
gujaf-22	401	12	-	-	SYM
gujaf-22	401	13	85	85	NUM
gujaf-22	401	14	.	.	PUNCT
gujaf-22	402	1	panayides	panayide	NOUN
gujaf-22	402	2	,	,	PUNCT
gujaf-22	402	3	m.	m.	NOUN
gujaf-22	402	4	,	,	PUNCT
gujaf-22	402	5	&	&	CCONJ
gujaf-22	402	6	gong	gong	PROPN
gujaf-22	402	7	,	,	PUNCT
gujaf-22	402	8	x.	x.	NOUN
gujaf-22	402	9	(	(	PUNCT
gujaf-22	402	10	2002	2002	NUM
gujaf-22	402	11	)	)	PUNCT
gujaf-22	402	12	.	.	PUNCT
gujaf-22	403	1	the	the	DET
gujaf-22	403	2	stock	stock	NOUN
gujaf-22	403	3	market	market	NOUN
gujaf-22	403	4	reaction	reaction	NOUN
gujaf-22	403	5	to	to	ADP
gujaf-22	403	6	merger	merger	NOUN
gujaf-22	403	7	and	and	CCONJ
gujaf-22	403	8	acquisition	acquisition	NOUN
gujaf-22	403	9	announcements	announcement	NOUN
gujaf-22	403	10	in	in	ADP
gujaf-22	403	11	liner	liner	NOUN
gujaf-22	403	12	shipping	shipping	NOUN
gujaf-22	403	13	.	.	PUNCT
gujaf-22	404	1	international	international	ADJ
gujaf-22	404	2	journal	journal	NOUN
gujaf-22	404	3	of	of	ADP
gujaf-22	404	4	maritime	maritime	ADJ
gujaf-22	404	5	economics	economic	NOUN
gujaf-22	404	6	,	,	PUNCT
gujaf-22	404	7	4(1	4(1	NOUN
gujaf-22	404	8	)	)	PUNCT
gujaf-22	404	9	,	,	PUNCT
gujaf-22	404	10	55	55	NUM
gujaf-22	404	11	-	-	SYM
gujaf-22	404	12	80	80	NUM
gujaf-22	404	13	.	.	PUNCT
gujaf-22	405	1	peterson	peterson	PROPN
gujaf-22	405	2	,	,	PUNCT
gujaf-22	405	3	p.	p.	NOUN
gujaf-22	405	4	p.	p.	NOUN
gujaf-22	405	5	(	(	PUNCT
gujaf-22	405	6	1989	1989	NUM
gujaf-22	405	7	)	)	PUNCT
gujaf-22	405	8	.	.	PUNCT
gujaf-22	406	1	event	event	NOUN
gujaf-22	406	2	studies	study	NOUN
gujaf-22	406	3	:	:	PUNCT
gujaf-22	406	4	a	a	DET
gujaf-22	406	5	review	review	NOUN
gujaf-22	406	6	of	of	ADP
gujaf-22	406	7	issues	issue	NOUN
gujaf-22	406	8	and	and	CCONJ
gujaf-22	406	9	methodology	methodology	NOUN
gujaf-22	406	10	.	.	PUNCT
gujaf-22	407	1	quarterly	quarterly	ADJ
gujaf-22	407	2	journal	journal	NOUN
gujaf-22	407	3	of	of	ADP
gujaf-22	407	4	business	business	NOUN
gujaf-22	407	5	economics	economic	NOUN
gujaf-22	407	6	,	,	PUNCT
gujaf-22	407	7	28(3	28(3	NUM
gujaf-22	407	8	)	)	PUNCT
gujaf-22	407	9	,	,	PUNCT
gujaf-22	407	10	36	36	NUM
gujaf-22	407	11	-	-	SYM
gujaf-22	407	12	66	66	NUM
gujaf-22	407	13	.	.	PUNCT
gujaf-22	408	1	width	width	PROPN
gujaf-22	408	2	,	,	PUNCT
gujaf-22	408	3	e.	e.	PROPN
gujaf-22	408	4	,	,	PUNCT
gujaf-22	408	5	&	&	CCONJ
gujaf-22	408	6	arseth	arseth	PROPN
gujaf-22	408	7	,	,	PUNCT
gujaf-22	408	8	o.	o.	NOUN
gujaf-22	408	9	a.	a.	NOUN
gujaf-22	408	10	(	(	PUNCT
gujaf-22	408	11	2018	2018	NUM
gujaf-22	408	12	)	)	PUNCT
gujaf-22	408	13	.	.	PUNCT
gujaf-22	409	1	impact	impact	NOUN
gujaf-22	409	2	of	of	ADP
gujaf-22	409	3	use	use	NOUN
gujaf-22	409	4	of	of	ADP
gujaf-22	409	5	proceeds	proceed	NOUN
gujaf-22	409	6	disclosure	disclosure	NOUN
gujaf-22	409	7	in	in	ADP
gujaf-22	409	8	seasoned	seasoned	ADJ
gujaf-22	409	9	equity	equity	NOUN
gujaf-22	409	10	offerings	offering	NOUN
gujaf-22	409	11	(	(	PUNCT
gujaf-22	409	12	unpublished	unpublished	ADJ
gujaf-22	409	13	master	master	NOUN
gujaf-22	409	14	thesis	thesis	NOUN
gujaf-22	409	15	)	)	PUNCT
gujaf-22	409	16	.	.	PUNCT
gujaf-22	410	1	norwegian	norwegian	ADJ
gujaf-22	410	2	school	school	NOUN
gujaf-22	410	3	of	of	ADP
gujaf-22	410	4	economics	economic	NOUN
gujaf-22	410	5	.	.	PUNCT