id	sid	tid	token	lemma	pos
hassl-3690	1	1	218	218	NUM
hassl-3690	1	2	©	©	ADP
hassl-3690	1	3	2024	2024	NUM
hassl-3690	1	4	conscientia	conscientia	PROPN
hassl-3690	1	5	beam	beam	PROPN
hassl-3690	1	6	.	.	PUNCT
hassl-3690	2	1	all	all	DET
hassl-3690	2	2	rights	right	NOUN
hassl-3690	2	3	reserved	reserve	VERB
hassl-3690	2	4	.	.	PUNCT
hassl-3690	3	1	the	the	DET
hassl-3690	3	2	role	role	NOUN
hassl-3690	3	3	of	of	ADP
hassl-3690	3	4	multiple	multiple	ADJ
hassl-3690	3	5	directorships	directorship	NOUN
hassl-3690	3	6	in	in	ADP
hassl-3690	3	7	minimizing	minimize	VERB
hassl-3690	3	8	idiosyncratic	idiosyncratic	ADJ
hassl-3690	3	9	risk	risk	NOUN
hassl-3690	3	10	due	due	ADP
hassl-3690	3	11	to	to	ADP
hassl-3690	3	12	the	the	DET
hassl-3690	3	13	presence	presence	NOUN
hassl-3690	3	14	of	of	ADP
hassl-3690	3	15	large	large	ADJ
hassl-3690	3	16	shareholders	shareholder	NOUN
hassl-3690	3	17	:	:	PUNCT
hassl-3690	3	18	evidence	evidence	NOUN
hassl-3690	3	19	from	from	ADP
hassl-3690	3	20	indonesian	indonesian	ADJ
hassl-3690	3	21	companies	company	NOUN
hassl-3690	3	22	ani	ani	VERB
hassl-3690	3	23	siska	siska	PROPN
hassl-3690	3	24	my1	my1	PROPN
hassl-3690	3	25	+	+	PROPN
hassl-3690	3	26	cynthia	cynthia	PROPN
hassl-3690	3	27	afriani	afriani	PROPN
hassl-3690	3	28	utama2	utama2	PROPN
hassl-3690	4	1	arief	arief	PROPN
hassl-3690	4	2	wibisono	wibisono	VERB
hassl-3690	4	3	lubis3	lubis3	X
hassl-3690	5	1	1,2,3department	1,2,3department	NUM
hassl-3690	5	2	of	of	ADP
hassl-3690	5	3	management	management	NOUN
hassl-3690	5	4	,	,	PUNCT
hassl-3690	5	5	faculty	faculty	NOUN
hassl-3690	5	6	of	of	ADP
hassl-3690	5	7	economics	economic	NOUN
hassl-3690	5	8	and	and	CCONJ
hassl-3690	5	9	business	business	NOUN
hassl-3690	5	10	,	,	PUNCT
hassl-3690	5	11	university	university	PROPN
hassl-3690	5	12	of	of	ADP
hassl-3690	5	13	indonesia	indonesia	PROPN
hassl-3690	5	14	,	,	PUNCT
hassl-3690	5	15	indonesia	indonesia	PROPN
hassl-3690	5	16	.	.	PUNCT
hassl-3690	6	1	1email	1email	NUM
hassl-3690	6	2	:	:	PUNCT
hassl-3690	6	3	ani.siska91@ui.ac.id	ani.siska91@ui.ac.id	NOUN
hassl-3690	6	4	2email	2email	NUM
hassl-3690	6	5	:	:	PUNCT
hassl-3690	6	6	cynthiautama@gmail.com	cynthiautama@gmail.com	X
hassl-3690	7	1	3email	3email	NUM
hassl-3690	7	2	:	:	PUNCT
hassl-3690	7	3	ariefwl@ui.ac.id	ariefwl@ui.ac.id	PROPN
hassl-3690	7	4	(	(	PUNCT
hassl-3690	7	5	+	+	CCONJ
hassl-3690	7	6	corresponding	correspond	VERB
hassl-3690	7	7	author	author	NOUN
hassl-3690	7	8	)	)	PUNCT
hassl-3690	7	9	abstract	abstract	ADJ
hassl-3690	7	10	article	article	NOUN
hassl-3690	7	11	history	history	NOUN
hassl-3690	7	12	received	receive	VERB
hassl-3690	7	13	:	:	PUNCT
hassl-3690	7	14	15	15	NUM
hassl-3690	7	15	november	november	PROPN
hassl-3690	7	16	2023	2023	NUM
hassl-3690	7	17	revised	revise	VERB
hassl-3690	7	18	:	:	PUNCT
hassl-3690	7	19	8	8	NUM
hassl-3690	7	20	january	january	NOUN
hassl-3690	7	21	2024	2024	NUM
hassl-3690	7	22	accepted	accept	VERB
hassl-3690	7	23	:	:	PUNCT
hassl-3690	7	24	20	20	NUM
hassl-3690	7	25	february	february	NOUN
hassl-3690	7	26	2024	2024	NUM
hassl-3690	7	27	published	publish	VERB
hassl-3690	7	28	:	:	PUNCT
hassl-3690	7	29	27	27	NUM
hassl-3690	7	30	march	march	NOUN
hassl-3690	7	31	2024	2024	NUM
hassl-3690	7	32	keywords	keyword	NOUN
hassl-3690	7	33	agency	agency	NOUN
hassl-3690	7	34	problems	problem	NOUN
hassl-3690	7	35	concentrated	concentrate	VERB
hassl-3690	7	36	ownerships	ownership	NOUN
hassl-3690	7	37	expropriation	expropriation	NOUN
hassl-3690	7	38	idiosyncratic	idiosyncratic	ADJ
hassl-3690	7	39	risk	risk	NOUN
hassl-3690	7	40	large	large	ADJ
hassl-3690	7	41	shareholders	shareholder	NOUN
hassl-3690	7	42	multiple	multiple	ADJ
hassl-3690	7	43	directorships	directorship	NOUN
hassl-3690	7	44	.	.	PUNCT
hassl-3690	8	1	this	this	DET
hassl-3690	8	2	study	study	NOUN
hassl-3690	8	3	aims	aim	VERB
hassl-3690	8	4	to	to	PART
hassl-3690	8	5	evaluate	evaluate	VERB
hassl-3690	8	6	the	the	DET
hassl-3690	8	7	role	role	NOUN
hassl-3690	8	8	of	of	ADP
hassl-3690	8	9	multiple	multiple	ADJ
hassl-3690	8	10	directorships	directorship	NOUN
hassl-3690	8	11	in	in	ADP
hassl-3690	8	12	the	the	DET
hassl-3690	8	13	relationship	relationship	NOUN
hassl-3690	8	14	between	between	ADP
hassl-3690	8	15	large	large	ADJ
hassl-3690	8	16	shareholders	shareholder	NOUN
hassl-3690	8	17	and	and	CCONJ
hassl-3690	8	18	idiosyncratic	idiosyncratic	ADJ
hassl-3690	8	19	risk	risk	NOUN
hassl-3690	8	20	in	in	ADP
hassl-3690	8	21	indonesian	indonesian	ADJ
hassl-3690	8	22	companies	company	NOUN
hassl-3690	8	23	for	for	ADP
hassl-3690	8	24	20172021	20172021	NUM
hassl-3690	8	25	.	.	PUNCT
hassl-3690	9	1	the	the	DET
hassl-3690	9	2	study	study	NOUN
hassl-3690	9	3	model	model	NOUN
hassl-3690	9	4	included	include	VERB
hassl-3690	9	5	dynamic	dynamic	ADJ
hassl-3690	9	6	panel	panel	NOUN
hassl-3690	9	7	data	datum	NOUN
hassl-3690	9	8	for	for	ADP
hassl-3690	9	9	estimation	estimation	NOUN
hassl-3690	9	10	and	and	CCONJ
hassl-3690	9	11	a	a	DET
hassl-3690	9	12	two	two	NUM
hassl-3690	9	13	-	-	PUNCT
hassl-3690	9	14	step	step	NOUN
hassl-3690	9	15	gmm	gmm	NOUN
hassl-3690	9	16	system	system	NOUN
hassl-3690	9	17	to	to	PART
hassl-3690	9	18	address	address	VERB
hassl-3690	9	19	endogeneity	endogeneity	NOUN
hassl-3690	9	20	issues	issue	NOUN
hassl-3690	9	21	.	.	PUNCT
hassl-3690	10	1	multiple	multiple	ADJ
hassl-3690	10	2	directorships	directorship	NOUN
hassl-3690	10	3	and	and	CCONJ
hassl-3690	10	4	long	long	ADJ
hassl-3690	10	5	-	-	PUNCT
hassl-3690	10	6	term	term	NOUN
hassl-3690	10	7	shareholders	shareholder	NOUN
hassl-3690	10	8	have	have	VERB
hassl-3690	10	9	low	low	ADJ
hassl-3690	10	10	-	-	PUNCT
hassl-3690	10	11	frequency	frequency	NOUN
hassl-3690	10	12	data	datum	NOUN
hassl-3690	10	13	whereas	whereas	SCONJ
hassl-3690	10	14	idiosyncratic	idiosyncratic	ADJ
hassl-3690	10	15	risk	risk	NOUN
hassl-3690	10	16	is	be	AUX
hassl-3690	10	17	associated	associate	VERB
hassl-3690	10	18	with	with	ADP
hassl-3690	10	19	high	high	ADJ
hassl-3690	10	20	-	-	PUNCT
hassl-3690	10	21	frequency	frequency	NOUN
hassl-3690	10	22	data	datum	NOUN
hassl-3690	10	23	.	.	PUNCT
hassl-3690	11	1	the	the	DET
hassl-3690	11	2	robustness	robustness	NOUN
hassl-3690	11	3	test	test	NOUN
hassl-3690	11	4	employed	employ	VERB
hassl-3690	11	5	the	the	DET
hassl-3690	11	6	fama	fama	NOUN
hassl-3690	11	7	-	-	PUNCT
hassl-3690	11	8	frenchhee	frenchhee	NOUN
hassl-3690	11	9	factor	factor	NOUN
hassl-3690	11	10	model	model	NOUN
hassl-3690	11	11	while	while	SCONJ
hassl-3690	11	12	the	the	DET
hassl-3690	11	13	single	single	ADJ
hassl-3690	11	14	factor	factor	NOUN
hassl-3690	11	15	model	model	NOUN
hassl-3690	11	16	was	be	AUX
hassl-3690	11	17	used	use	VERB
hassl-3690	11	18	to	to	PART
hassl-3690	11	19	evaluate	evaluate	VERB
hassl-3690	11	20	idiosyncratic	idiosyncratic	ADJ
hassl-3690	11	21	risk	risk	NOUN
hassl-3690	11	22	.	.	PUNCT
hassl-3690	12	1	indonesia	indonesia	PROPN
hassl-3690	12	2	adheres	adhere	VERB
hassl-3690	12	3	to	to	ADP
hassl-3690	12	4	a	a	DET
hassl-3690	12	5	two	two	NUM
hassl-3690	12	6	-	-	PUNCT
hassl-3690	12	7	tier	tier	NOUN
hassl-3690	12	8	system	system	NOUN
hassl-3690	12	9	that	that	PRON
hassl-3690	12	10	separates	separate	VERB
hassl-3690	12	11	the	the	DET
hassl-3690	12	12	roles	role	NOUN
hassl-3690	12	13	and	and	CCONJ
hassl-3690	12	14	functions	function	NOUN
hassl-3690	12	15	of	of	ADP
hassl-3690	12	16	the	the	DET
hassl-3690	12	17	board	board	NOUN
hassl-3690	12	18	of	of	ADP
hassl-3690	12	19	directors	director	NOUN
hassl-3690	12	20	and	and	CCONJ
hassl-3690	12	21	the	the	DET
hassl-3690	12	22	board	board	NOUN
hassl-3690	12	23	of	of	ADP
hassl-3690	12	24	commissioners	commissioner	NOUN
hassl-3690	12	25	.	.	PUNCT
hassl-3690	13	1	furthermore	furthermore	ADV
hassl-3690	13	2	,	,	PUNCT
hassl-3690	13	3	the	the	DET
hassl-3690	13	4	concentrated	concentrated	ADJ
hassl-3690	13	5	ownership	ownership	NOUN
hassl-3690	13	6	structure	structure	NOUN
hassl-3690	13	7	of	of	ADP
hassl-3690	13	8	indonesian	indonesian	ADJ
hassl-3690	13	9	companies	company	NOUN
hassl-3690	13	10	can	can	AUX
hassl-3690	13	11	cause	cause	VERB
hassl-3690	13	12	agency	agency	NOUN
hassl-3690	13	13	problems	problem	NOUN
hassl-3690	13	14	between	between	ADP
hassl-3690	13	15	large	large	ADJ
hassl-3690	13	16	and	and	CCONJ
hassl-3690	13	17	small	small	ADJ
hassl-3690	13	18	shareholders	shareholder	NOUN
hassl-3690	13	19	.	.	PUNCT
hassl-3690	14	1	the	the	DET
hassl-3690	14	2	study	study	NOUN
hassl-3690	14	3	results	result	NOUN
hassl-3690	14	4	show	show	VERB
hassl-3690	14	5	that	that	SCONJ
hassl-3690	14	6	large	large	ADJ
hassl-3690	14	7	shareholders	shareholder	NOUN
hassl-3690	14	8	can	can	AUX
hassl-3690	14	9	strengthen	strengthen	VERB
hassl-3690	14	10	the	the	DET
hassl-3690	14	11	relationships	relationship	NOUN
hassl-3690	14	12	of	of	ADP
hassl-3690	14	13	busy	busy	ADJ
hassl-3690	14	14	directors	director	NOUN
hassl-3690	14	15	to	to	PART
hassl-3690	14	16	reduce	reduce	VERB
hassl-3690	14	17	idiosyncratic	idiosyncratic	ADJ
hassl-3690	14	18	risk	risk	NOUN
hassl-3690	14	19	.	.	PUNCT
hassl-3690	15	1	as	as	ADP
hassl-3690	15	2	a	a	DET
hassl-3690	15	3	result	result	NOUN
hassl-3690	15	4	,	,	PUNCT
hassl-3690	15	5	this	this	DET
hassl-3690	15	6	research	research	NOUN
hassl-3690	15	7	recommends	recommend	VERB
hassl-3690	15	8	increasing	increase	VERB
hassl-3690	15	9	the	the	DET
hassl-3690	15	10	role	role	NOUN
hassl-3690	15	11	of	of	ADP
hassl-3690	15	12	multiple	multiple	ADJ
hassl-3690	15	13	directorships	directorship	NOUN
hassl-3690	15	14	in	in	ADP
hassl-3690	15	15	monitoring	monitoring	NOUN
hassl-3690	15	16	and	and	CCONJ
hassl-3690	15	17	predicting	predict	VERB
hassl-3690	15	18	business	business	NOUN
hassl-3690	15	19	conditions	condition	NOUN
hassl-3690	15	20	internally	internally	ADV
hassl-3690	15	21	and	and	CCONJ
hassl-3690	15	22	externally	externally	ADV
hassl-3690	15	23	to	to	PART
hassl-3690	15	24	minimize	minimize	VERB
hassl-3690	15	25	interference	interference	NOUN
hassl-3690	15	26	from	from	ADP
hassl-3690	15	27	large	large	ADJ
hassl-3690	15	28	shareholders	shareholder	NOUN
hassl-3690	15	29	which	which	PRON
hassl-3690	15	30	can	can	AUX
hassl-3690	15	31	cause	cause	VERB
hassl-3690	15	32	expropriation	expropriation	NOUN
hassl-3690	15	33	due	due	ADP
hassl-3690	15	34	to	to	ADP
hassl-3690	15	35	agency	agency	NOUN
hassl-3690	15	36	problems	problem	NOUN
hassl-3690	15	37	.	.	PUNCT
hassl-3690	16	1	contribution	contribution	NOUN
hassl-3690	16	2	/	/	SYM
hassl-3690	16	3	originality	originality	NOUN
hassl-3690	16	4	:	:	PUNCT
hassl-3690	16	5	to	to	ADP
hassl-3690	16	6	the	the	DET
hassl-3690	16	7	researcher	researcher	NOUN
hassl-3690	16	8	's	's	PART
hassl-3690	16	9	knowledge	knowledge	NOUN
hassl-3690	16	10	,	,	PUNCT
hassl-3690	16	11	there	there	PRON
hassl-3690	16	12	has	have	AUX
hassl-3690	16	13	been	be	AUX
hassl-3690	16	14	no	no	DET
hassl-3690	16	15	research	research	NOUN
hassl-3690	16	16	that	that	PRON
hassl-3690	16	17	examines	examine	VERB
hassl-3690	16	18	the	the	DET
hassl-3690	16	19	role	role	NOUN
hassl-3690	16	20	of	of	ADP
hassl-3690	16	21	several	several	ADJ
hassl-3690	16	22	directorships	directorship	NOUN
hassl-3690	16	23	in	in	ADP
hassl-3690	16	24	the	the	DET
hassl-3690	16	25	relationship	relationship	NOUN
hassl-3690	16	26	between	between	ADP
hassl-3690	16	27	large	large	ADJ
hassl-3690	16	28	shareholders	shareholder	NOUN
hassl-3690	16	29	and	and	CCONJ
hassl-3690	16	30	idiosyncratic	idiosyncratic	ADJ
hassl-3690	16	31	risk	risk	NOUN
hassl-3690	16	32	.	.	PUNCT
hassl-3690	17	1	the	the	DET
hassl-3690	17	2	role	role	NOUN
hassl-3690	17	3	of	of	ADP
hassl-3690	17	4	multiple	multiple	ADJ
hassl-3690	17	5	directorships	directorship	NOUN
hassl-3690	17	6	can	can	AUX
hassl-3690	17	7	minimize	minimize	VERB
hassl-3690	17	8	export	export	NOUN
hassl-3690	17	9	operations	operation	NOUN
hassl-3690	17	10	caused	cause	VERB
hassl-3690	17	11	by	by	ADP
hassl-3690	17	12	large	large	ADJ
hassl-3690	17	13	shareholders	shareholder	NOUN
hassl-3690	17	14	so	so	SCONJ
hassl-3690	17	15	as	as	SCONJ
hassl-3690	17	16	to	to	PART
hassl-3690	17	17	minimize	minimize	VERB
hassl-3690	17	18	idiosyncratic	idiosyncratic	ADJ
hassl-3690	17	19	risk	risk	NOUN
hassl-3690	17	20	.	.	PUNCT
hassl-3690	18	1	1	1	X
hassl-3690	18	2	.	.	X
hassl-3690	18	3	introduction	introduction	NOUN
hassl-3690	18	4	idiosyncratic	idiosyncratic	ADJ
hassl-3690	18	5	risk	risk	NOUN
hassl-3690	18	6	can	can	AUX
hassl-3690	18	7	be	be	AUX
hassl-3690	18	8	controlled	control	VERB
hassl-3690	18	9	and	and	CCONJ
hassl-3690	18	10	is	be	AUX
hassl-3690	18	11	exclusive	exclusive	ADJ
hassl-3690	18	12	to	to	ADP
hassl-3690	18	13	the	the	DET
hassl-3690	18	14	company	company	NOUN
hassl-3690	18	15	because	because	SCONJ
hassl-3690	18	16	it	it	PRON
hassl-3690	18	17	consists	consist	VERB
hassl-3690	18	18	of	of	ADP
hassl-3690	18	19	the	the	DET
hassl-3690	18	20	company	company	NOUN
hassl-3690	18	21	's	's	PART
hassl-3690	18	22	operating	operating	NOUN
hassl-3690	18	23	strategy	strategy	NOUN
hassl-3690	18	24	,	,	PUNCT
hassl-3690	18	25	financial	financial	ADJ
hassl-3690	18	26	policy	policy	NOUN
hassl-3690	18	27	and	and	CCONJ
hassl-3690	18	28	investment	investment	NOUN
hassl-3690	18	29	strategy	strategy	NOUN
hassl-3690	18	30	(	(	PUNCT
hassl-3690	18	31	hatane	hatane	NOUN
hassl-3690	18	32	,	,	PUNCT
hassl-3690	18	33	supangat	supangat	ADJ
hassl-3690	18	34	,	,	PUNCT
hassl-3690	18	35	tarigan	tarigan	ADJ
hassl-3690	18	36	,	,	PUNCT
hassl-3690	18	37	&	&	CCONJ
hassl-3690	18	38	jie	jie	PROPN
hassl-3690	18	39	,	,	PUNCT
hassl-3690	18	40	2019	2019	NUM
hassl-3690	18	41	)	)	PUNCT
hassl-3690	18	42	.	.	PUNCT
hassl-3690	19	1	idiosyncratic	idiosyncratic	ADJ
hassl-3690	19	2	risk	risk	NOUN
hassl-3690	19	3	arises	arise	VERB
hassl-3690	19	4	because	because	SCONJ
hassl-3690	19	5	of	of	ADP
hassl-3690	19	6	asymmetric	asymmetric	ADJ
hassl-3690	19	7	information	information	NOUN
hassl-3690	19	8	.	.	PUNCT
hassl-3690	20	1	grossman	grossman	PROPN
hassl-3690	20	2	and	and	CCONJ
hassl-3690	20	3	stiglitz	stiglitz	PROPN
hassl-3690	20	4	(	(	PUNCT
hassl-3690	20	5	1980	1980	NUM
hassl-3690	20	6	)	)	PUNCT
hassl-3690	20	7	argue	argue	VERB
hassl-3690	20	8	that	that	SCONJ
hassl-3690	20	9	agents	agent	NOUN
hassl-3690	20	10	obtain	obtain	VERB
hassl-3690	20	11	lower	low	ADJ
hassl-3690	20	12	prices	price	NOUN
hassl-3690	20	13	and	and	CCONJ
hassl-3690	20	14	higher	high	ADJ
hassl-3690	20	15	expected	expect	VERB
hassl-3690	20	16	returns	return	NOUN
hassl-3690	20	17	because	because	SCONJ
hassl-3690	20	18	agents	agent	NOUN
hassl-3690	20	19	have	have	VERB
hassl-3690	20	20	more	more	ADV
hassl-3690	20	21	private	private	ADJ
hassl-3690	20	22	signals	signal	NOUN
hassl-3690	20	23	about	about	ADP
hassl-3690	20	24	the	the	DET
hassl-3690	20	25	company	company	NOUN
hassl-3690	20	26	than	than	ADP
hassl-3690	20	27	those	those	PRON
hassl-3690	20	28	owned	own	VERB
hassl-3690	20	29	by	by	ADP
hassl-3690	20	30	the	the	DET
hassl-3690	20	31	public	public	NOUN
hassl-3690	20	32	.	.	PUNCT
hassl-3690	21	1	li	li	PROPN
hassl-3690	21	2	,	,	PUNCT
hassl-3690	21	3	morck	morck	PROPN
hassl-3690	21	4	,	,	PUNCT
hassl-3690	21	5	yang	yang	PROPN
hassl-3690	21	6	,	,	PUNCT
hassl-3690	21	7	and	and	CCONJ
hassl-3690	21	8	yeung	yeung	PROPN
hassl-3690	21	9	(	(	PUNCT
hassl-3690	21	10	2004	2004	NUM
hassl-3690	21	11	)	)	PUNCT
hassl-3690	21	12	stated	state	VERB
hassl-3690	21	13	that	that	SCONJ
hassl-3690	21	14	high	high	ADJ
hassl-3690	21	15	asymmetric	asymmetric	ADJ
hassl-3690	21	16	information	information	NOUN
hassl-3690	21	17	in	in	ADP
hassl-3690	21	18	emerging	emerge	VERB
hassl-3690	21	19	markets	market	NOUN
hassl-3690	21	20	leads	lead	VERB
hassl-3690	21	21	to	to	ADP
hassl-3690	21	22	high	high	ADJ
hassl-3690	21	23	idiosyncratic	idiosyncratic	ADJ
hassl-3690	21	24	risk	risk	NOUN
hassl-3690	21	25	.	.	PUNCT
hassl-3690	22	1	the	the	DET
hassl-3690	22	2	first	first	ADJ
hassl-3690	22	3	study	study	NOUN
hassl-3690	22	4	to	to	PART
hassl-3690	22	5	be	be	AUX
hassl-3690	22	6	discussed	discuss	VERB
hassl-3690	22	7	in	in	ADP
hassl-3690	22	8	relation	relation	NOUN
hassl-3690	22	9	to	to	ADP
hassl-3690	22	10	idiosyncratic	idiosyncratic	ADJ
hassl-3690	22	11	risk	risk	NOUN
hassl-3690	22	12	research	research	NOUN
hassl-3690	22	13	was	be	AUX
hassl-3690	22	14	conducted	conduct	VERB
hassl-3690	22	15	by	by	ADP
hassl-3690	22	16	campbell	campbell	PROPN
hassl-3690	22	17	,	,	PUNCT
hassl-3690	22	18	lettau	lettau	PROPN
hassl-3690	22	19	,	,	PUNCT
hassl-3690	22	20	malkiel	malkiel	ADJ
hassl-3690	22	21	,	,	PUNCT
hassl-3690	22	22	and	and	CCONJ
hassl-3690	22	23	xu	xu	PROPN
hassl-3690	22	24	(	(	PUNCT
hassl-3690	22	25	2001	2001	NUM
hassl-3690	22	26	)	)	PUNCT
hassl-3690	22	27	.	.	PUNCT
hassl-3690	23	1	they	they	PRON
hassl-3690	23	2	showed	show	VERB
hassl-3690	23	3	that	that	SCONJ
hassl-3690	23	4	over	over	ADP
hassl-3690	23	5	the	the	DET
hassl-3690	23	6	past	past	ADJ
hassl-3690	23	7	forty	forty	NUM
hassl-3690	23	8	years	year	NOUN
hassl-3690	23	9	,	,	PUNCT
hassl-3690	23	10	the	the	DET
hassl-3690	23	11	market	market	NOUN
hassl-3690	23	12	average	average	NOUN
hassl-3690	23	13	of	of	ADP
hassl-3690	23	14	idiosyncratic	idiosyncratic	ADJ
hassl-3690	23	15	risk	risk	NOUN
hassl-3690	23	16	has	have	AUX
hassl-3690	23	17	been	be	AUX
hassl-3690	23	18	rising	rise	VERB
hassl-3690	23	19	steadily	steadily	ADV
hassl-3690	23	20	.	.	PUNCT
hassl-3690	24	1	they	they	PRON
hassl-3690	24	2	also	also	ADV
hassl-3690	24	3	proposed	propose	VERB
hassl-3690	24	4	that	that	SCONJ
hassl-3690	24	5	investors	investor	NOUN
hassl-3690	24	6	should	should	AUX
hassl-3690	24	7	constantly	constantly	ADV
hassl-3690	24	8	rebalance	rebalance	VERB
hassl-3690	24	9	their	their	PRON
hassl-3690	24	10	portfolios	portfolio	NOUN
hassl-3690	24	11	to	to	PART
hassl-3690	24	12	maintain	maintain	VERB
hassl-3690	24	13	the	the	DET
hassl-3690	24	14	same	same	ADJ
hassl-3690	24	15	level	level	NOUN
hassl-3690	24	16	of	of	ADP
hassl-3690	24	17	diversification	diversification	NOUN
hassl-3690	24	18	in	in	ADP
hassl-3690	24	19	response	response	NOUN
hassl-3690	24	20	to	to	ADP
hassl-3690	24	21	rising	rise	VERB
hassl-3690	24	22	market	market	NOUN
hassl-3690	24	23	averages	average	NOUN
hassl-3690	24	24	for	for	ADP
hassl-3690	24	25	a	a	DET
hassl-3690	24	26	company	company	NOUN
hassl-3690	24	27	's	's	PART
hassl-3690	24	28	particular	particular	ADJ
hassl-3690	24	29	risk	risk	NOUN
hassl-3690	24	30	.	.	PUNCT
hassl-3690	25	1	on	on	ADP
hassl-3690	25	2	the	the	DET
hassl-3690	25	3	other	other	ADJ
hassl-3690	25	4	humanities	humanity	NOUN
hassl-3690	25	5	and	and	CCONJ
hassl-3690	25	6	social	social	ADJ
hassl-3690	25	7	sciences	science	NOUN
hassl-3690	25	8	letters	letter	NOUN
hassl-3690	25	9	2024	2024	NUM
hassl-3690	25	10	vol	vol	NOUN
hassl-3690	25	11	.	.	PROPN
hassl-3690	25	12	12	12	NUM
hassl-3690	25	13	,	,	PUNCT
hassl-3690	25	14	no	no	INTJ
hassl-3690	25	15	.	.	NOUN
hassl-3690	25	16	2	2	NUM
hassl-3690	25	17	,	,	PUNCT
hassl-3690	25	18	pp	pp	ADJ
hassl-3690	25	19	.	.	PUNCT
hassl-3690	26	1	218	218	NUM
hassl-3690	26	2	-	-	SYM
hassl-3690	26	3	232	232	NUM
hassl-3690	26	4	issn(e	issn(e	NOUN
hassl-3690	26	5	):	):	PUNCT
hassl-3690	26	6	2312	2312	NUM
hassl-3690	26	7	-	-	SYM
hassl-3690	26	8	4318	4318	NUM
hassl-3690	26	9	issn(p	issn(p	NUM
hassl-3690	26	10	):	):	PUNCT
hassl-3690	26	11	2312	2312	NUM
hassl-3690	26	12	-	-	SYM
hassl-3690	26	13	5659	5659	NUM
hassl-3690	26	14	doi	doi	NOUN
hassl-3690	26	15	:	:	PUNCT
hassl-3690	26	16	10.18488/73.v12i2.3690	10.18488/73.v12i2.3690	PROPN
hassl-3690	26	17	©	©	PROPN
hassl-3690	26	18	2024	2024	NUM
hassl-3690	26	19	conscientia	conscientia	PROPN
hassl-3690	26	20	beam	beam	PROPN
hassl-3690	26	21	.	.	PUNCT
hassl-3690	27	1	all	all	DET
hassl-3690	27	2	rights	right	NOUN
hassl-3690	27	3	reserved	reserve	VERB
hassl-3690	27	4	.	.	PUNCT
hassl-3690	28	1	https://orcid.org/0000-0001-7179-6681	https://orcid.org/0000-0001-7179-6681	PRON
hassl-3690	28	2	https://orcid.org/0000-0002-5577-0278	https://orcid.org/0000-0002-5577-0278	PROPN
hassl-3690	28	3	https://orcid.org/0000-0002-0689-2092	https://orcid.org/0000-0002-0689-2092	PROPN
hassl-3690	28	4	mailto:ani.siska91@ui.ac.id	mailto:ani.siska91@ui.ac.id	PROPN
hassl-3690	28	5	mailto:cynthiautama@gmail.com	mailto:cynthiautama@gmail.com	X
hassl-3690	29	1	mailto:ariefwl@ui.ac.id	mailto:ariefwl@ui.ac.id	PROPN
hassl-3690	29	2	https://www.doi.org/10.18488/73.v12i2.3690	https://www.doi.org/10.18488/73.v12i2.3690	PROPN
hassl-3690	29	3	humanities	humanity	NOUN
hassl-3690	29	4	and	and	CCONJ
hassl-3690	29	5	social	social	ADJ
hassl-3690	29	6	sciences	science	NOUN
hassl-3690	29	7	letters	letter	NOUN
hassl-3690	29	8	,	,	PUNCT
hassl-3690	29	9	2024	2024	NUM
hassl-3690	29	10	,	,	PUNCT
hassl-3690	29	11	12(2	12(2	NUM
hassl-3690	29	12	):	):	PUNCT
hassl-3690	29	13	218	218	NUM
hassl-3690	29	14	-	-	SYM
hassl-3690	29	15	232	232	NUM
hassl-3690	29	16	219	219	NUM
hassl-3690	29	17	©	©	PROPN
hassl-3690	29	18	2024	2024	NUM
hassl-3690	29	19	conscientia	conscientia	PROPN
hassl-3690	29	20	beam	beam	PROPN
hassl-3690	29	21	.	.	PUNCT
hassl-3690	30	1	all	all	DET
hassl-3690	30	2	rights	right	NOUN
hassl-3690	30	3	reserved	reserve	VERB
hassl-3690	30	4	.	.	PUNCT
hassl-3690	31	1	hand	hand	NOUN
hassl-3690	31	2	,	,	PUNCT
hassl-3690	31	3	goyal	goyal	PROPN
hassl-3690	31	4	and	and	CCONJ
hassl-3690	31	5	santa	santa	PROPN
hassl-3690	31	6	-	-	PUNCT
hassl-3690	31	7	clara	clara	PROPN
hassl-3690	31	8	(	(	PUNCT
hassl-3690	31	9	2003	2003	NUM
hassl-3690	31	10	)	)	PUNCT
hassl-3690	31	11	contend	contend	VERB
hassl-3690	31	12	that	that	SCONJ
hassl-3690	31	13	there	there	PRON
hassl-3690	31	14	is	be	VERB
hassl-3690	31	15	a	a	DET
hassl-3690	31	16	strong	strong	ADJ
hassl-3690	31	17	relationship	relationship	NOUN
hassl-3690	31	18	between	between	ADP
hassl-3690	31	19	cross	cross	ADJ
hassl-3690	31	20	-	-	ADJ
hassl-3690	31	21	sectional	sectional	ADJ
hassl-3690	31	22	return	return	NOUN
hassl-3690	31	23	and	and	CCONJ
hassl-3690	31	24	the	the	DET
hassl-3690	31	25	market	market	NOUN
hassl-3690	31	26	average	average	NOUN
hassl-3690	31	27	of	of	ADP
hassl-3690	31	28	idiosyncratic	idiosyncratic	ADJ
hassl-3690	31	29	risk	risk	NOUN
hassl-3690	31	30	.	.	PUNCT
hassl-3690	32	1	the	the	DET
hassl-3690	32	2	notion	notion	NOUN
hassl-3690	32	3	that	that	SCONJ
hassl-3690	32	4	there	there	PRON
hassl-3690	32	5	is	be	VERB
hassl-3690	32	6	a	a	DET
hassl-3690	32	7	significant	significant	ADJ
hassl-3690	32	8	relationship	relationship	NOUN
hassl-3690	32	9	between	between	ADP
hassl-3690	32	10	idiosyncratic	idiosyncratic	ADJ
hassl-3690	32	11	risk	risk	NOUN
hassl-3690	32	12	and	and	CCONJ
hassl-3690	32	13	return	return	NOUN
hassl-3690	32	14	has	have	AUX
hassl-3690	32	15	been	be	AUX
hassl-3690	32	16	criticized	criticize	VERB
hassl-3690	32	17	by	by	ADP
hassl-3690	32	18	studies	study	NOUN
hassl-3690	32	19	conducted	conduct	VERB
hassl-3690	32	20	by	by	ADP
hassl-3690	32	21	fink	fink	PROPN
hassl-3690	32	22	,	,	PUNCT
hassl-3690	32	23	grullon	grullon	PROPN
hassl-3690	32	24	,	,	PUNCT
hassl-3690	32	25	fink	fink	NOUN
hassl-3690	32	26	,	,	PUNCT
hassl-3690	32	27	and	and	CCONJ
hassl-3690	32	28	weston	weston	PROPN
hassl-3690	32	29	(	(	PUNCT
hassl-3690	32	30	2005	2005	NUM
hassl-3690	32	31	)	)	PUNCT
hassl-3690	32	32	,	,	PUNCT
hassl-3690	32	33	wei	wei	PROPN
hassl-3690	32	34	and	and	CCONJ
hassl-3690	32	35	zhang	zhang	PROPN
hassl-3690	32	36	(	(	PUNCT
hassl-3690	32	37	2005	2005	NUM
hassl-3690	32	38	)	)	PUNCT
hassl-3690	32	39	,	,	PUNCT
hassl-3690	32	40	and	and	CCONJ
hassl-3690	32	41	bali	bali	PROPN
hassl-3690	32	42	,	,	PUNCT
hassl-3690	32	43	cakici	cakici	PROPN
hassl-3690	32	44	,	,	PUNCT
hassl-3690	32	45	yan	yan	PROPN
hassl-3690	32	46	,	,	PUNCT
hassl-3690	32	47	and	and	CCONJ
hassl-3690	32	48	zhang	zhang	PROPN
hassl-3690	32	49	(	(	PUNCT
hassl-3690	32	50	2005	2005	NUM
hassl-3690	32	51	)	)	PUNCT
hassl-3690	32	52	.	.	PUNCT
hassl-3690	33	1	merton	merton	PROPN
hassl-3690	33	2	(	(	PUNCT
hassl-3690	33	3	1987	1987	NUM
hassl-3690	33	4	)	)	PUNCT
hassl-3690	33	5	initially	initially	ADV
hassl-3690	33	6	introduced	introduce	VERB
hassl-3690	33	7	the	the	DET
hassl-3690	33	8	limited	limited	ADJ
hassl-3690	33	9	information	information	NOUN
hassl-3690	33	10	hypothesis	hypothesis	NOUN
hassl-3690	33	11	which	which	PRON
hassl-3690	33	12	maintains	maintain	VERB
hassl-3690	33	13	that	that	SCONJ
hassl-3690	33	14	investors	investor	NOUN
hassl-3690	33	15	are	be	AUX
hassl-3690	33	16	not	not	PART
hassl-3690	33	17	protected	protect	VERB
hassl-3690	33	18	against	against	ADP
hassl-3690	33	19	idiosyncratic	idiosyncratic	ADJ
hassl-3690	33	20	risk	risk	NOUN
hassl-3690	33	21	because	because	SCONJ
hassl-3690	33	22	they	they	PRON
hassl-3690	33	23	lack	lack	VERB
hassl-3690	33	24	knowledge	knowledge	NOUN
hassl-3690	33	25	about	about	ADP
hassl-3690	33	26	additional	additional	ADJ
hassl-3690	33	27	securities	security	NOUN
hassl-3690	33	28	.	.	PUNCT
hassl-3690	34	1	the	the	DET
hassl-3690	34	2	research	research	NOUN
hassl-3690	34	3	results	result	VERB
hassl-3690	34	4	on	on	ADP
hassl-3690	34	5	idiosyncratic	idiosyncratic	ADJ
hassl-3690	34	6	risk	risk	NOUN
hassl-3690	34	7	are	be	AUX
hassl-3690	34	8	conflicting	conflict	VERB
hassl-3690	34	9	.	.	PUNCT
hassl-3690	35	1	numerous	numerous	ADJ
hassl-3690	35	2	studies	study	NOUN
hassl-3690	35	3	have	have	AUX
hassl-3690	35	4	examined	examine	VERB
hassl-3690	35	5	the	the	DET
hassl-3690	35	6	company	company	NOUN
hassl-3690	35	7	-	-	PUNCT
hassl-3690	35	8	side	side	NOUN
hassl-3690	35	9	elements	element	NOUN
hassl-3690	35	10	that	that	PRON
hassl-3690	35	11	contribute	contribute	VERB
hassl-3690	35	12	to	to	ADP
hassl-3690	35	13	idiosyncratic	idiosyncratic	ADJ
hassl-3690	35	14	risk	risk	NOUN
hassl-3690	35	15	,	,	PUNCT
hassl-3690	35	16	including	include	VERB
hassl-3690	35	17	corporate	corporate	ADJ
hassl-3690	35	18	governance	governance	NOUN
hassl-3690	35	19	,	,	PUNCT
hassl-3690	35	20	company	company	NOUN
hassl-3690	35	21	characteristics	characteristic	NOUN
hassl-3690	35	22	and	and	CCONJ
hassl-3690	35	23	reporting	report	VERB
hassl-3690	35	24	information	information	NOUN
hassl-3690	35	25	.	.	PUNCT
hassl-3690	36	1	xu	xu	PROPN
hassl-3690	36	2	and	and	CCONJ
hassl-3690	36	3	malkiel	malkiel	PROPN
hassl-3690	36	4	(	(	PUNCT
hassl-3690	36	5	2003	2003	NUM
hassl-3690	36	6	)	)	PUNCT
hassl-3690	36	7	found	find	VERB
hassl-3690	36	8	that	that	SCONJ
hassl-3690	36	9	changes	change	NOUN
hassl-3690	36	10	in	in	ADP
hassl-3690	36	11	volume	volume	NOUN
hassl-3690	36	12	and	and	CCONJ
hassl-3690	36	13	speed	speed	NOUN
hassl-3690	36	14	of	of	ADP
hassl-3690	36	15	dissemination	dissemination	NOUN
hassl-3690	36	16	of	of	ADP
hassl-3690	36	17	information	information	NOUN
hassl-3690	36	18	and	and	CCONJ
hassl-3690	36	19	an	an	DET
hassl-3690	36	20	increase	increase	NOUN
hassl-3690	36	21	in	in	ADP
hassl-3690	36	22	the	the	DET
hassl-3690	36	23	number	number	NOUN
hassl-3690	36	24	of	of	ADP
hassl-3690	36	25	institutional	institutional	ADJ
hassl-3690	36	26	owners	owner	NOUN
hassl-3690	36	27	or	or	CCONJ
hassl-3690	36	28	companies	company	NOUN
hassl-3690	36	29	are	be	AUX
hassl-3690	36	30	the	the	DET
hassl-3690	36	31	main	main	ADJ
hassl-3690	36	32	reasons	reason	NOUN
hassl-3690	36	33	for	for	ADP
hassl-3690	36	34	each	each	DET
hassl-3690	36	35	stock	stock	NOUN
hassl-3690	36	36	's	's	PART
hassl-3690	36	37	increased	increase	VERB
hassl-3690	36	38	volatility	volatility	NOUN
hassl-3690	36	39	.	.	PUNCT
hassl-3690	37	1	brown	brown	PROPN
hassl-3690	37	2	and	and	CCONJ
hassl-3690	37	3	kapadia	kapadia	PROPN
hassl-3690	37	4	(	(	PUNCT
hassl-3690	37	5	2007	2007	NUM
hassl-3690	37	6	)	)	PUNCT
hassl-3690	37	7	suggested	suggest	VERB
hassl-3690	37	8	that	that	SCONJ
hassl-3690	37	9	growth	growth	NOUN
hassl-3690	37	10	opportunities	opportunity	NOUN
hassl-3690	37	11	,	,	PUNCT
hassl-3690	37	12	profit	profit	NOUN
hassl-3690	37	13	margins	margin	NOUN
hassl-3690	37	14	,	,	PUNCT
hassl-3690	37	15	firm	firm	ADJ
hassl-3690	37	16	size	size	NOUN
hassl-3690	37	17	and	and	CCONJ
hassl-3690	37	18	industry	industry	NOUN
hassl-3690	37	19	composition	composition	NOUN
hassl-3690	37	20	are	be	AUX
hassl-3690	37	21	related	relate	VERB
hassl-3690	37	22	to	to	ADP
hassl-3690	37	23	an	an	DET
hassl-3690	37	24	increase	increase	NOUN
hassl-3690	37	25	in	in	ADP
hassl-3690	37	26	idiosyncratic	idiosyncratic	ADJ
hassl-3690	37	27	risk	risk	NOUN
hassl-3690	37	28	while	while	SCONJ
hassl-3690	37	29	brandt	brandt	PROPN
hassl-3690	37	30	,	,	PUNCT
hassl-3690	37	31	brav	brav	PROPN
hassl-3690	37	32	,	,	PUNCT
hassl-3690	37	33	graham	graham	PROPN
hassl-3690	37	34	,	,	PUNCT
hassl-3690	37	35	and	and	CCONJ
hassl-3690	37	36	kumar	kumar	PROPN
hassl-3690	37	37	(	(	PUNCT
hassl-3690	37	38	2010	2010	NUM
hassl-3690	37	39	)	)	PUNCT
hassl-3690	37	40	showed	show	VERB
hassl-3690	37	41	that	that	SCONJ
hassl-3690	37	42	the	the	DET
hassl-3690	37	43	pattern	pattern	NOUN
hassl-3690	37	44	of	of	ADP
hassl-3690	37	45	idiosyncratic	idiosyncratic	ADJ
hassl-3690	37	46	risk	risk	NOUN
hassl-3690	37	47	becomes	become	VERB
hassl-3690	37	48	stronger	strong	ADJ
hassl-3690	37	49	and	and	CCONJ
hassl-3690	37	50	higher	high	ADJ
hassl-3690	37	51	in	in	ADP
hassl-3690	37	52	stocks	stock	NOUN
hassl-3690	37	53	with	with	ADP
hassl-3690	37	54	more	more	ADV
hassl-3690	37	55	significant	significant	ADJ
hassl-3690	37	56	retail	retail	ADJ
hassl-3690	37	57	investor	investor	NOUN
hassl-3690	37	58	holdings	holding	NOUN
hassl-3690	37	59	.	.	PUNCT
hassl-3690	38	1	the	the	DET
hassl-3690	38	2	purpose	purpose	NOUN
hassl-3690	38	3	of	of	ADP
hassl-3690	38	4	this	this	DET
hassl-3690	38	5	research	research	NOUN
hassl-3690	38	6	is	be	AUX
hassl-3690	38	7	to	to	PART
hassl-3690	38	8	assess	assess	VERB
hassl-3690	38	9	the	the	DET
hassl-3690	38	10	moderating	moderate	VERB
hassl-3690	38	11	effect	effect	NOUN
hassl-3690	38	12	of	of	ADP
hassl-3690	38	13	multiple	multiple	ADJ
hassl-3690	38	14	directorships	directorship	NOUN
hassl-3690	38	15	and	and	CCONJ
hassl-3690	38	16	the	the	DET
hassl-3690	38	17	influence	influence	NOUN
hassl-3690	38	18	of	of	ADP
hassl-3690	38	19	significant	significant	ADJ
hassl-3690	38	20	owners	owner	NOUN
hassl-3690	38	21	on	on	ADP
hassl-3690	38	22	idiosyncratic	idiosyncratic	ADJ
hassl-3690	38	23	risk	risk	NOUN
hassl-3690	38	24	in	in	ADP
hassl-3690	38	25	indonesian	indonesian	ADJ
hassl-3690	38	26	companies	company	NOUN
hassl-3690	38	27	listed	list	VERB
hassl-3690	38	28	on	on	ADP
hassl-3690	38	29	the	the	DET
hassl-3690	38	30	indonesia	indonesia	PROPN
hassl-3690	38	31	stock	stock	PROPN
hassl-3690	38	32	exchange	exchange	PROPN
hassl-3690	38	33	(	(	PUNCT
hassl-3690	38	34	idx	idx	PROPN
hassl-3690	38	35	)	)	PUNCT
hassl-3690	38	36	between	between	ADP
hassl-3690	38	37	2017	2017	NUM
hassl-3690	38	38	and	and	CCONJ
hassl-3690	38	39	2021	2021	NUM
hassl-3690	38	40	.	.	PUNCT
hassl-3690	39	1	the	the	DET
hassl-3690	39	2	existence	existence	NOUN
hassl-3690	39	3	of	of	ADP
hassl-3690	39	4	large	large	ADJ
hassl-3690	39	5	shareholders	shareholder	NOUN
hassl-3690	39	6	in	in	ADP
hassl-3690	39	7	indonesian	indonesian	ADJ
hassl-3690	39	8	companies	company	NOUN
hassl-3690	39	9	with	with	ADP
hassl-3690	39	10	concentrated	concentrated	ADJ
hassl-3690	39	11	ownership	ownership	NOUN
hassl-3690	39	12	structures	structure	NOUN
hassl-3690	39	13	in	in	ADP
hassl-3690	39	14	the	the	DET
hassl-3690	39	15	family	family	NOUN
hassl-3690	39	16	can	can	AUX
hassl-3690	39	17	prevent	prevent	VERB
hassl-3690	39	18	tunneling	tunneling	NOUN
hassl-3690	39	19	or	or	CCONJ
hassl-3690	39	20	expropriation	expropriation	NOUN
hassl-3690	39	21	by	by	ADP
hassl-3690	39	22	controlling	control	VERB
hassl-3690	39	23	shareholders	shareholder	NOUN
hassl-3690	39	24	for	for	ADP
hassl-3690	39	25	personal	personal	ADJ
hassl-3690	39	26	gain	gain	NOUN
hassl-3690	39	27	(	(	PUNCT
hassl-3690	39	28	pagano	pagano	PROPN
hassl-3690	39	29	&	&	CCONJ
hassl-3690	39	30	röell	röell	PROPN
hassl-3690	39	31	,	,	PUNCT
hassl-3690	39	32	1998).the	1998).the	NUM
hassl-3690	39	33	presence	presence	NOUN
hassl-3690	39	34	of	of	ADP
hassl-3690	39	35	large	large	ADJ
hassl-3690	39	36	shareholders	shareholder	NOUN
hassl-3690	39	37	as	as	ADP
hassl-3690	39	38	monitors	monitor	NOUN
hassl-3690	39	39	and	and	CCONJ
hassl-3690	39	40	controls	control	NOUN
hassl-3690	39	41	will	will	AUX
hassl-3690	39	42	make	make	VERB
hassl-3690	39	43	controlling	control	VERB
hassl-3690	39	44	shareholders	shareholder	NOUN
hassl-3690	39	45	act	act	NOUN
hassl-3690	39	46	as	as	SCONJ
hassl-3690	39	47	they	they	PRON
hassl-3690	39	48	should	should	AUX
hassl-3690	39	49	.	.	PUNCT
hassl-3690	40	1	miller	miller	PROPN
hassl-3690	40	2	and	and	CCONJ
hassl-3690	40	3	chen	chen	PROPN
hassl-3690	40	4	(	(	PUNCT
hassl-3690	40	5	2003	2003	NUM
hassl-3690	40	6	)	)	PUNCT
hassl-3690	40	7	suggest	suggest	VERB
hassl-3690	40	8	that	that	SCONJ
hassl-3690	40	9	large	large	ADJ
hassl-3690	40	10	shareholders	shareholder	NOUN
hassl-3690	40	11	can	can	AUX
hassl-3690	40	12	contribute	contribute	VERB
hassl-3690	40	13	to	to	ADP
hassl-3690	40	14	the	the	DET
hassl-3690	40	15	company	company	NOUN
hassl-3690	40	16	especially	especially	ADV
hassl-3690	40	17	in	in	ADP
hassl-3690	40	18	making	make	VERB
hassl-3690	40	19	decisions	decision	NOUN
hassl-3690	40	20	about	about	ADP
hassl-3690	40	21	the	the	DET
hassl-3690	40	22	company	company	NOUN
hassl-3690	40	23	's	's	PART
hassl-3690	40	24	progress	progress	NOUN
hassl-3690	40	25	.	.	PUNCT
hassl-3690	41	1	one	one	NUM
hassl-3690	41	2	of	of	ADP
hassl-3690	41	3	the	the	DET
hassl-3690	41	4	characteristics	characteristic	NOUN
hassl-3690	41	5	of	of	ADP
hassl-3690	41	6	companies	company	NOUN
hassl-3690	41	7	in	in	ADP
hassl-3690	41	8	the	the	DET
hassl-3690	41	9	asian	asian	ADJ
hassl-3690	41	10	region	region	NOUN
hassl-3690	41	11	including	include	VERB
hassl-3690	41	12	indonesia	indonesia	PROPN
hassl-3690	41	13	is	be	AUX
hassl-3690	41	14	the	the	DET
hassl-3690	41	15	concentrated	concentrated	ADJ
hassl-3690	41	16	ownership	ownership	NOUN
hassl-3690	41	17	of	of	ADP
hassl-3690	41	18	certain	certain	ADJ
hassl-3690	41	19	shareholders	shareholder	NOUN
hassl-3690	41	20	(	(	PUNCT
hassl-3690	41	21	claessens	claessen	NOUN
hassl-3690	41	22	,	,	PUNCT
hassl-3690	41	23	djankov	djankov	NOUN
hassl-3690	41	24	,	,	PUNCT
hassl-3690	41	25	&	&	CCONJ
hassl-3690	41	26	lang	lang	PROPN
hassl-3690	41	27	,	,	PUNCT
hassl-3690	41	28	2000	2000	NUM
hassl-3690	41	29	)	)	PUNCT
hassl-3690	41	30	.	.	PUNCT
hassl-3690	42	1	a	a	DET
hassl-3690	42	2	conflict	conflict	NOUN
hassl-3690	42	3	of	of	ADP
hassl-3690	42	4	interest	interest	NOUN
hassl-3690	42	5	arises	arise	VERB
hassl-3690	42	6	between	between	ADP
hassl-3690	42	7	controlling	controlling	NOUN
hassl-3690	42	8	and	and	CCONJ
hassl-3690	42	9	non	non	ADJ
hassl-3690	42	10	-	-	ADJ
hassl-3690	42	11	controlling	controlling	ADJ
hassl-3690	42	12	shareholders	shareholder	NOUN
hassl-3690	42	13	in	in	ADP
hassl-3690	42	14	businesses	business	NOUN
hassl-3690	42	15	with	with	ADP
hassl-3690	42	16	concentrated	concentrated	ADJ
hassl-3690	42	17	ownership	ownership	NOUN
hassl-3690	42	18	structures	structure	NOUN
hassl-3690	42	19	when	when	SCONJ
hassl-3690	42	20	one	one	NUM
hassl-3690	42	21	party	party	NOUN
hassl-3690	42	22	owns	own	VERB
hassl-3690	42	23	a	a	DET
hassl-3690	42	24	greater	great	ADJ
hassl-3690	42	25	percentage	percentage	NOUN
hassl-3690	42	26	of	of	ADP
hassl-3690	42	27	the	the	DET
hassl-3690	42	28	company	company	NOUN
hassl-3690	42	29	than	than	ADP
hassl-3690	42	30	other	other	ADJ
hassl-3690	42	31	shareholders	shareholder	NOUN
hassl-3690	42	32	(	(	PUNCT
hassl-3690	42	33	la	la	INTJ
hassl-3690	42	34	porta	porta	PROPN
hassl-3690	42	35	,	,	PUNCT
hassl-3690	42	36	lopez‐de‐silanes	lopez‐de‐silanes	PROPN
hassl-3690	42	37	,	,	PUNCT
hassl-3690	42	38	&	&	CCONJ
hassl-3690	42	39	shleifer	shleifer	PROPN
hassl-3690	42	40	,	,	PUNCT
hassl-3690	42	41	1999	1999	NUM
hassl-3690	42	42	)	)	PUNCT
hassl-3690	42	43	.	.	PUNCT
hassl-3690	43	1	according	accord	VERB
hassl-3690	43	2	to	to	ADP
hassl-3690	43	3	utama	utama	PROPN
hassl-3690	43	4	and	and	CCONJ
hassl-3690	43	5	utama	utama	PROPN
hassl-3690	43	6	(	(	PUNCT
hassl-3690	43	7	2014	2014	NUM
hassl-3690	43	8	)	)	PUNCT
hassl-3690	43	9	,	,	PUNCT
hassl-3690	43	10	agency	agency	NOUN
hassl-3690	43	11	difficulties	difficulty	NOUN
hassl-3690	43	12	occur	occur	VERB
hassl-3690	43	13	in	in	ADP
hassl-3690	43	14	organisations	organisation	NOUN
hassl-3690	43	15	with	with	ADP
hassl-3690	43	16	concentrated	concentrated	ADJ
hassl-3690	43	17	ownership	ownership	NOUN
hassl-3690	43	18	because	because	SCONJ
hassl-3690	43	19	controlling	control	VERB
hassl-3690	43	20	shareholders	shareholder	NOUN
hassl-3690	43	21	take	take	VERB
hassl-3690	43	22	steps	step	NOUN
hassl-3690	43	23	to	to	PART
hassl-3690	43	24	get	get	VERB
hassl-3690	43	25	more	more	ADV
hassl-3690	43	26	accurate	accurate	ADJ
hassl-3690	43	27	information	information	NOUN
hassl-3690	43	28	than	than	ADP
hassl-3690	43	29	minority	minority	NOUN
hassl-3690	43	30	shareholders	shareholder	NOUN
hassl-3690	43	31	about	about	ADP
hassl-3690	43	32	the	the	DET
hassl-3690	43	33	company	company	NOUN
hassl-3690	43	34	's	's	PART
hassl-3690	43	35	commercial	commercial	ADJ
hassl-3690	43	36	operations	operation	NOUN
hassl-3690	43	37	.	.	PUNCT
hassl-3690	44	1	jensen	jensen	PROPN
hassl-3690	44	2	and	and	CCONJ
hassl-3690	44	3	meckling	meckling	NOUN
hassl-3690	44	4	(	(	PUNCT
hassl-3690	44	5	1976	1976	NUM
hassl-3690	44	6	)	)	PUNCT
hassl-3690	44	7	put	put	VERB
hassl-3690	44	8	forward	forward	ADV
hassl-3690	44	9	the	the	DET
hassl-3690	44	10	idea	idea	NOUN
hassl-3690	44	11	that	that	SCONJ
hassl-3690	44	12	the	the	DET
hassl-3690	44	13	ownership	ownership	NOUN
hassl-3690	44	14	structure	structure	NOUN
hassl-3690	44	15	influences	influence	VERB
hassl-3690	44	16	how	how	SCONJ
hassl-3690	44	17	decisions	decision	NOUN
hassl-3690	44	18	are	be	AUX
hassl-3690	44	19	made	make	VERB
hassl-3690	44	20	and	and	CCONJ
hassl-3690	44	21	will	will	AUX
hassl-3690	44	22	affect	affect	VERB
hassl-3690	44	23	the	the	DET
hassl-3690	44	24	risk	risk	NOUN
hassl-3690	44	25	in	in	ADP
hassl-3690	44	26	the	the	DET
hassl-3690	44	27	company	company	NOUN
hassl-3690	44	28	.	.	PUNCT
hassl-3690	45	1	large	large	ADJ
hassl-3690	45	2	shareholders	shareholder	NOUN
hassl-3690	45	3	are	be	AUX
hassl-3690	45	4	shareholders	shareholder	NOUN
hassl-3690	45	5	who	who	PRON
hassl-3690	45	6	have	have	VERB
hassl-3690	45	7	the	the	DET
hassl-3690	45	8	power	power	NOUN
hassl-3690	45	9	to	to	PART
hassl-3690	45	10	control	control	VERB
hassl-3690	45	11	the	the	DET
hassl-3690	45	12	company	company	NOUN
hassl-3690	45	13	.	.	PUNCT
hassl-3690	46	1	suppose	suppose	VERB
hassl-3690	46	2	the	the	DET
hassl-3690	46	3	large	large	ADJ
hassl-3690	46	4	shareholders	shareholder	NOUN
hassl-3690	46	5	in	in	ADP
hassl-3690	46	6	company	company	NOUN
hassl-3690	46	7	management	management	NOUN
hassl-3690	46	8	are	be	AUX
hassl-3690	46	9	only	only	ADV
hassl-3690	46	10	concerned	concerned	ADJ
hassl-3690	46	11	with	with	ADP
hassl-3690	46	12	personal	personal	ADJ
hassl-3690	46	13	interests	interest	NOUN
hassl-3690	46	14	.	.	PUNCT
hassl-3690	47	1	in	in	ADP
hassl-3690	47	2	that	that	DET
hassl-3690	47	3	case	case	NOUN
hassl-3690	47	4	,	,	PUNCT
hassl-3690	47	5	the	the	DET
hassl-3690	47	6	function	function	NOUN
hassl-3690	47	7	of	of	ADP
hassl-3690	47	8	the	the	DET
hassl-3690	47	9	large	large	ADJ
hassl-3690	47	10	shareholders	shareholder	NOUN
hassl-3690	47	11	is	be	AUX
hassl-3690	47	12	as	as	SCONJ
hassl-3690	47	13	follows	follow	VERB
hassl-3690	47	14	:	:	PUNCT
hassl-3690	47	15	monitoring	monitoring	NOUN
hassl-3690	47	16	and	and	CCONJ
hassl-3690	47	17	controlling	controlling	NOUN
hassl-3690	47	18	are	be	AUX
hassl-3690	47	19	not	not	PART
hassl-3690	47	20	carried	carry	VERB
hassl-3690	47	21	out	out	ADP
hassl-3690	47	22	which	which	PRON
hassl-3690	47	23	can	can	AUX
hassl-3690	47	24	increase	increase	VERB
hassl-3690	47	25	the	the	DET
hassl-3690	47	26	risk	risk	NOUN
hassl-3690	47	27	of	of	ADP
hassl-3690	47	28	the	the	DET
hassl-3690	47	29	company	company	NOUN
hassl-3690	47	30	.	.	PUNCT
hassl-3690	48	1	information	information	NOUN
hassl-3690	48	2	that	that	PRON
hassl-3690	48	3	was	be	AUX
hassl-3690	48	4	previously	previously	ADV
hassl-3690	48	5	controlled	control	VERB
hassl-3690	48	6	by	by	ADP
hassl-3690	48	7	significant	significant	ADJ
hassl-3690	48	8	shareholders	shareholder	NOUN
hassl-3690	48	9	is	be	AUX
hassl-3690	48	10	now	now	ADV
hassl-3690	48	11	advantageous	advantageous	ADJ
hassl-3690	48	12	when	when	SCONJ
hassl-3690	48	13	buying	buy	VERB
hassl-3690	48	14	or	or	CCONJ
hassl-3690	48	15	selling	sell	VERB
hassl-3690	48	16	stocks	stock	NOUN
hassl-3690	48	17	.	.	PUNCT
hassl-3690	49	1	li	li	PROPN
hassl-3690	49	2	,	,	PUNCT
hassl-3690	49	3	wang	wang	PROPN
hassl-3690	49	4	,	,	PUNCT
hassl-3690	49	5	zhou	zhou	PROPN
hassl-3690	49	6	,	,	PUNCT
hassl-3690	49	7	and	and	CCONJ
hassl-3690	49	8	zhang	zhang	PROPN
hassl-3690	49	9	(	(	PUNCT
hassl-3690	49	10	2021	2021	NUM
hassl-3690	49	11	)	)	PUNCT
hassl-3690	49	12	state	state	NOUN
hassl-3690	49	13	that	that	SCONJ
hassl-3690	49	14	large	large	ADJ
hassl-3690	49	15	shareholders	shareholder	NOUN
hassl-3690	49	16	have	have	VERB
hassl-3690	49	17	two	two	NUM
hassl-3690	49	18	conflicting	conflicting	ADJ
hassl-3690	49	19	effects	effect	NOUN
hassl-3690	49	20	affecting	affect	VERB
hassl-3690	49	21	stock	stock	NOUN
hassl-3690	49	22	crash	crash	NOUN
hassl-3690	49	23	risk	risk	NOUN
hassl-3690	49	24	:	:	PUNCT
hassl-3690	49	25	monitoring	monitoring	NOUN
hassl-3690	49	26	and	and	CCONJ
hassl-3690	49	27	tunneling	tunneling	NOUN
hassl-3690	49	28	.	.	PUNCT
hassl-3690	50	1	large	large	ADJ
hassl-3690	50	2	shareholders	shareholder	NOUN
hassl-3690	50	3	will	will	AUX
hassl-3690	50	4	create	create	VERB
hassl-3690	50	5	trust	trust	NOUN
hassl-3690	50	6	-	-	PUNCT
hassl-3690	50	7	based	base	VERB
hassl-3690	50	8	interest	interest	NOUN
hassl-3690	50	9	alliances	alliance	NOUN
hassl-3690	50	10	in	in	ADP
hassl-3690	50	11	order	order	NOUN
hassl-3690	50	12	to	to	PART
hassl-3690	50	13	observe	observe	VERB
hassl-3690	50	14	management	management	NOUN
hassl-3690	50	15	behaviour	behaviour	NOUN
hassl-3690	50	16	due	due	ADP
hassl-3690	50	17	to	to	ADP
hassl-3690	50	18	the	the	DET
hassl-3690	50	19	monitoring	monitoring	NOUN
hassl-3690	50	20	effect	effect	NOUN
hassl-3690	50	21	.	.	PUNCT
hassl-3690	51	1	a	a	DET
hassl-3690	51	2	consistent	consistent	ADJ
hassl-3690	51	3	ownership	ownership	NOUN
hassl-3690	51	4	structure	structure	NOUN
hassl-3690	51	5	provides	provide	VERB
hassl-3690	51	6	residual	residual	ADJ
hassl-3690	51	7	ownership	ownership	NOUN
hassl-3690	51	8	large	large	ADJ
hassl-3690	51	9	enough	enough	ADV
hassl-3690	51	10	for	for	ADP
hassl-3690	51	11	large	large	ADJ
hassl-3690	51	12	shareholders	shareholder	NOUN
hassl-3690	51	13	.	.	PUNCT
hassl-3690	52	1	large	large	ADJ
hassl-3690	52	2	shareholders	shareholder	NOUN
hassl-3690	52	3	under	under	ADP
hassl-3690	52	4	supervision	supervision	NOUN
hassl-3690	52	5	can	can	AUX
hassl-3690	52	6	replace	replace	VERB
hassl-3690	52	7	management	management	NOUN
hassl-3690	52	8	through	through	ADP
hassl-3690	52	9	the	the	DET
hassl-3690	52	10	monitoring	monitoring	NOUN
hassl-3690	52	11	effect	effect	NOUN
hassl-3690	52	12	which	which	PRON
hassl-3690	52	13	is	be	AUX
hassl-3690	52	14	detrimental	detrimental	ADJ
hassl-3690	52	15	for	for	ADP
hassl-3690	52	16	the	the	DET
hassl-3690	52	17	business	business	NOUN
hassl-3690	52	18	since	since	SCONJ
hassl-3690	52	19	it	it	PRON
hassl-3690	52	20	reduces	reduce	VERB
hassl-3690	52	21	the	the	DET
hassl-3690	52	22	agency	agency	NOUN
hassl-3690	52	23	problem	problem	NOUN
hassl-3690	52	24	brought	bring	VERB
hassl-3690	52	25	on	on	ADP
hassl-3690	52	26	by	by	ADP
hassl-3690	52	27	the	the	DET
hassl-3690	52	28	spread	spread	NOUN
hassl-3690	52	29	of	of	ADP
hassl-3690	52	30	equity	equity	NOUN
hassl-3690	52	31	and	and	CCONJ
hassl-3690	52	32	raises	raise	VERB
hassl-3690	52	33	the	the	DET
hassl-3690	52	34	possibility	possibility	NOUN
hassl-3690	52	35	of	of	ADP
hassl-3690	52	36	declining	decline	VERB
hassl-3690	52	37	stock	stock	NOUN
hassl-3690	52	38	prices	price	NOUN
hassl-3690	52	39	.	.	PUNCT
hassl-3690	53	1	the	the	DET
hassl-3690	53	2	largest	large	ADJ
hassl-3690	53	3	shareholder	shareholder	NOUN
hassl-3690	53	4	's	's	PART
hassl-3690	53	5	power	power	NOUN
hassl-3690	53	6	will	will	AUX
hassl-3690	53	7	be	be	AUX
hassl-3690	53	8	used	use	VERB
hassl-3690	53	9	to	to	PART
hassl-3690	53	10	expropriate	expropriate	VERB
hassl-3690	53	11	in	in	ADP
hassl-3690	53	12	contrast	contrast	NOUN
hassl-3690	53	13	to	to	ADP
hassl-3690	53	14	the	the	DET
hassl-3690	53	15	tunneling	tunneling	NOUN
hassl-3690	53	16	effect	effect	NOUN
hassl-3690	53	17	by	by	ADP
hassl-3690	53	18	important	important	ADJ
hassl-3690	53	19	business	business	NOUN
hassl-3690	53	20	management	management	NOUN
hassl-3690	53	21	shareholders	shareholder	NOUN
hassl-3690	53	22	.	.	PUNCT
hassl-3690	54	1	consequently	consequently	ADV
hassl-3690	54	2	,	,	PUNCT
hassl-3690	54	3	the	the	DET
hassl-3690	54	4	decline	decline	NOUN
hassl-3690	54	5	in	in	ADP
hassl-3690	54	6	stock	stock	NOUN
hassl-3690	54	7	values	value	NOUN
hassl-3690	54	8	is	be	AUX
hassl-3690	54	9	the	the	DET
hassl-3690	54	10	effect	effect	NOUN
hassl-3690	54	11	.	.	PUNCT
hassl-3690	55	1	li	li	PROPN
hassl-3690	55	2	et	et	PROPN
hassl-3690	55	3	al	al	PROPN
hassl-3690	55	4	.	.	PROPN
hassl-3690	55	5	(	(	PUNCT
hassl-3690	55	6	2021	2021	NUM
hassl-3690	55	7	)	)	PUNCT
hassl-3690	55	8	examine	examine	VERB
hassl-3690	55	9	the	the	DET
hassl-3690	55	10	influence	influence	NOUN
hassl-3690	55	11	of	of	ADP
hassl-3690	55	12	existing	exist	VERB
hassl-3690	55	13	information	information	NOUN
hassl-3690	55	14	on	on	ADP
hassl-3690	55	15	large	large	ADJ
hassl-3690	55	16	shareholders	shareholder	NOUN
hassl-3690	55	17	with	with	ADP
hassl-3690	55	18	stock	stock	NOUN
hassl-3690	55	19	crash	crash	NOUN
hassl-3690	55	20	risk	risk	NOUN
hassl-3690	55	21	in	in	ADP
hassl-3690	55	22	companies	company	NOUN
hassl-3690	55	23	listed	list	VERB
hassl-3690	55	24	in	in	ADP
hassl-3690	55	25	china	china	PROPN
hassl-3690	55	26	.	.	PUNCT
hassl-3690	56	1	a	a	DET
hassl-3690	56	2	chinese	chinese	ADJ
hassl-3690	56	3	company	company	NOUN
hassl-3690	56	4	is	be	AUX
hassl-3690	56	5	a	a	DET
hassl-3690	56	6	company	company	NOUN
hassl-3690	56	7	with	with	ADP
hassl-3690	56	8	a	a	DET
hassl-3690	56	9	concentrated	concentrated	ADJ
hassl-3690	56	10	structure	structure	NOUN
hassl-3690	56	11	.	.	PUNCT
hassl-3690	57	1	the	the	DET
hassl-3690	57	2	study	study	NOUN
hassl-3690	57	3	found	find	VERB
hassl-3690	57	4	that	that	SCONJ
hassl-3690	57	5	humanities	humanity	NOUN
hassl-3690	57	6	and	and	CCONJ
hassl-3690	57	7	social	social	ADJ
hassl-3690	57	8	sciences	science	NOUN
hassl-3690	57	9	letters	letter	NOUN
hassl-3690	57	10	,	,	PUNCT
hassl-3690	57	11	2024	2024	NUM
hassl-3690	57	12	,	,	PUNCT
hassl-3690	57	13	12(2	12(2	NUM
hassl-3690	57	14	):	):	PUNCT
hassl-3690	57	15	218	218	NUM
hassl-3690	57	16	-	-	SYM
hassl-3690	57	17	232	232	NUM
hassl-3690	57	18	220	220	NUM
hassl-3690	57	19	©	©	PROPN
hassl-3690	57	20	2024	2024	NUM
hassl-3690	57	21	conscientia	conscientia	PROPN
hassl-3690	57	22	beam	beam	PROPN
hassl-3690	57	23	.	.	PUNCT
hassl-3690	58	1	all	all	DET
hassl-3690	58	2	rights	right	NOUN
hassl-3690	58	3	reserved	reserve	VERB
hassl-3690	58	4	.	.	PUNCT
hassl-3690	59	1	the	the	DET
hassl-3690	59	2	monitoring	monitoring	NOUN
hassl-3690	59	3	effect	effect	NOUN
hassl-3690	59	4	would	would	AUX
hassl-3690	59	5	be	be	AUX
hassl-3690	59	6	more	more	ADV
hassl-3690	59	7	dominant	dominant	ADJ
hassl-3690	59	8	than	than	ADP
hassl-3690	59	9	the	the	DET
hassl-3690	59	10	tunneling	tunneling	NOUN
hassl-3690	59	11	effect	effect	NOUN
hassl-3690	59	12	.	.	PUNCT
hassl-3690	60	1	the	the	DET
hassl-3690	60	2	impact	impact	NOUN
hassl-3690	60	3	of	of	ADP
hassl-3690	60	4	monitoring	monitoring	NOUN
hassl-3690	60	5	causes	cause	VERB
hassl-3690	60	6	large	large	ADJ
hassl-3690	60	7	shareholders	shareholder	NOUN
hassl-3690	60	8	to	to	PART
hassl-3690	60	9	incur	incur	VERB
hassl-3690	60	10	more	more	ADJ
hassl-3690	60	11	incentive	incentive	NOUN
hassl-3690	60	12	costs	cost	NOUN
hassl-3690	60	13	to	to	PART
hassl-3690	60	14	monitor	monitor	VERB
hassl-3690	60	15	management	management	NOUN
hassl-3690	60	16	.	.	PUNCT
hassl-3690	61	1	the	the	DET
hassl-3690	61	2	powers	power	NOUN
hassl-3690	61	3	of	of	ADP
hassl-3690	61	4	the	the	DET
hassl-3690	61	5	executive	executive	ADJ
hassl-3690	61	6	and	and	CCONJ
hassl-3690	61	7	non	non	ADJ
hassl-3690	61	8	-	-	ADJ
hassl-3690	61	9	executive	executive	ADJ
hassl-3690	61	10	boards	board	NOUN
hassl-3690	61	11	are	be	AUX
hassl-3690	61	12	also	also	ADV
hassl-3690	61	13	kept	keep	VERB
hassl-3690	61	14	apart	apart	ADV
hassl-3690	61	15	in	in	ADP
hassl-3690	61	16	indonesian	indonesian	ADJ
hassl-3690	61	17	corporations	corporation	NOUN
hassl-3690	61	18	that	that	PRON
hassl-3690	61	19	use	use	VERB
hassl-3690	61	20	a	a	DET
hassl-3690	61	21	two	two	NUM
hassl-3690	61	22	-	-	PUNCT
hassl-3690	61	23	tier	tier	NOUN
hassl-3690	61	24	system	system	NOUN
hassl-3690	61	25	.	.	PUNCT
hassl-3690	62	1	the	the	DET
hassl-3690	62	2	board	board	NOUN
hassl-3690	62	3	of	of	ADP
hassl-3690	62	4	commissioners	commissioner	NOUN
hassl-3690	62	5	is	be	AUX
hassl-3690	62	6	a	a	DET
hassl-3690	62	7	supervisory	supervisory	ADJ
hassl-3690	62	8	board	board	NOUN
hassl-3690	62	9	that	that	PRON
hassl-3690	62	10	evaluates	evaluate	VERB
hassl-3690	62	11	the	the	DET
hassl-3690	62	12	effectiveness	effectiveness	NOUN
hassl-3690	62	13	of	of	ADP
hassl-3690	62	14	the	the	DET
hassl-3690	62	15	board	board	NOUN
hassl-3690	62	16	of	of	ADP
hassl-3690	62	17	directors	director	NOUN
hassl-3690	62	18	and	and	CCONJ
hassl-3690	62	19	all	all	DET
hassl-3690	62	20	business	business	NOUN
hassl-3690	62	21	operations	operation	NOUN
hassl-3690	62	22	.	.	PUNCT
hassl-3690	63	1	the	the	DET
hassl-3690	63	2	goal	goal	NOUN
hassl-3690	63	3	of	of	ADP
hassl-3690	63	4	monitoring	monitoring	NOUN
hassl-3690	63	5	is	be	AUX
hassl-3690	63	6	to	to	PART
hassl-3690	63	7	enable	enable	VERB
hassl-3690	63	8	the	the	DET
hassl-3690	63	9	board	board	NOUN
hassl-3690	63	10	of	of	ADP
hassl-3690	63	11	directors	director	NOUN
hassl-3690	63	12	to	to	PART
hassl-3690	63	13	make	make	VERB
hassl-3690	63	14	correct	correct	ADJ
hassl-3690	63	15	decisions	decision	NOUN
hassl-3690	63	16	,	,	PUNCT
hassl-3690	63	17	reduce	reduce	VERB
hassl-3690	63	18	agency	agency	NOUN
hassl-3690	63	19	conflicts	conflict	NOUN
hassl-3690	63	20	and	and	CCONJ
hassl-3690	63	21	efficiently	efficiently	ADV
hassl-3690	63	22	manage	manage	VERB
hassl-3690	63	23	the	the	DET
hassl-3690	63	24	daily	daily	ADJ
hassl-3690	63	25	operations	operation	NOUN
hassl-3690	63	26	of	of	ADP
hassl-3690	63	27	the	the	DET
hassl-3690	63	28	business	business	NOUN
hassl-3690	63	29	.	.	PUNCT
hassl-3690	64	1	section	section	NOUN
hassl-3690	64	2	108	108	NUM
hassl-3690	64	3	ayat	ayat	NOUN
hassl-3690	64	4	(	(	PUNCT
hassl-3690	64	5	5	5	NUM
hassl-3690	64	6	)	)	PUNCT
hassl-3690	64	7	of	of	ADP
hassl-3690	64	8	law	law	NOUN
hassl-3690	64	9	no	no	INTJ
hassl-3690	64	10	.	.	PROPN
hassl-3690	64	11	40	40	NUM
hassl-3690	64	12	of	of	ADP
hassl-3690	64	13	2007	2007	NUM
hassl-3690	64	14	on	on	ADP
hassl-3690	64	15	limited	limited	ADJ
hassl-3690	64	16	liability	liability	NOUN
hassl-3690	64	17	companies	company	NOUN
hassl-3690	64	18	dictates	dictate	VERB
hassl-3690	64	19	that	that	SCONJ
hassl-3690	64	20	public	public	ADJ
hassl-3690	64	21	corporations	corporation	NOUN
hassl-3690	64	22	have	have	VERB
hassl-3690	64	23	a	a	DET
hassl-3690	64	24	minimum	minimum	NOUN
hassl-3690	64	25	of	of	ADP
hassl-3690	64	26	two	two	NUM
hassl-3690	64	27	members	member	NOUN
hassl-3690	64	28	on	on	ADP
hassl-3690	64	29	their	their	PRON
hassl-3690	64	30	board	board	NOUN
hassl-3690	64	31	of	of	ADP
hassl-3690	64	32	commissioners	commissioner	NOUN
hassl-3690	64	33	.	.	PUNCT
hassl-3690	65	1	haunschild	haunschild	VERB
hassl-3690	65	2	and	and	CCONJ
hassl-3690	65	3	beckman	beckman	PROPN
hassl-3690	65	4	(	(	PUNCT
hassl-3690	65	5	1998	1998	NUM
hassl-3690	65	6	)	)	PUNCT
hassl-3690	65	7	argue	argue	VERB
hassl-3690	65	8	that	that	SCONJ
hassl-3690	65	9	multiple	multiple	ADJ
hassl-3690	65	10	directorships	directorship	NOUN
hassl-3690	65	11	are	be	AUX
hassl-3690	65	12	expected	expect	VERB
hassl-3690	65	13	to	to	PART
hassl-3690	65	14	be	be	AUX
hassl-3690	65	15	a	a	DET
hassl-3690	65	16	means	mean	NOUN
hassl-3690	65	17	for	for	SCONJ
hassl-3690	65	18	companies	company	NOUN
hassl-3690	65	19	to	to	PART
hassl-3690	65	20	reduce	reduce	VERB
hassl-3690	65	21	uncertainty	uncertainty	NOUN
hassl-3690	65	22	and	and	CCONJ
hassl-3690	65	23	facilitate	facilitate	NOUN
hassl-3690	65	24	access	access	NOUN
hassl-3690	65	25	to	to	ADP
hassl-3690	65	26	resources	resource	NOUN
hassl-3690	65	27	to	to	PART
hassl-3690	65	28	create	create	VERB
hassl-3690	65	29	cooperation	cooperation	NOUN
hassl-3690	65	30	such	such	ADJ
hassl-3690	65	31	as	as	ADP
hassl-3690	65	32	the	the	DET
hassl-3690	65	33	exchange	exchange	NOUN
hassl-3690	65	34	of	of	ADP
hassl-3690	65	35	information	information	NOUN
hassl-3690	65	36	and	and	CCONJ
hassl-3690	65	37	knowledge	knowledge	NOUN
hassl-3690	65	38	so	so	SCONJ
hassl-3690	65	39	that	that	SCONJ
hassl-3690	65	40	it	it	PRON
hassl-3690	65	41	is	be	AUX
hassl-3690	65	42	hoped	hope	VERB
hassl-3690	65	43	that	that	SCONJ
hassl-3690	65	44	companies	company	NOUN
hassl-3690	65	45	can	can	AUX
hassl-3690	65	46	increase	increase	VERB
hassl-3690	65	47	their	their	PRON
hassl-3690	65	48	competitive	competitive	ADJ
hassl-3690	65	49	advantage	advantage	NOUN
hassl-3690	65	50	,	,	PUNCT
hassl-3690	65	51	be	be	AUX
hassl-3690	65	52	able	able	ADJ
hassl-3690	65	53	to	to	PART
hassl-3690	65	54	face	face	VERB
hassl-3690	65	55	competition	competition	NOUN
hassl-3690	65	56	in	in	ADP
hassl-3690	65	57	the	the	DET
hassl-3690	65	58	market	market	NOUN
hassl-3690	65	59	and	and	CCONJ
hassl-3690	65	60	minimize	minimize	VERB
hassl-3690	65	61	risks	risk	NOUN
hassl-3690	65	62	that	that	PRON
hassl-3690	65	63	may	may	AUX
hassl-3690	65	64	occur	occur	VERB
hassl-3690	65	65	within	within	ADP
hassl-3690	65	66	the	the	DET
hassl-3690	65	67	company	company	NOUN
hassl-3690	65	68	.	.	PUNCT
hassl-3690	66	1	in	in	ADP
hassl-3690	66	2	addition	addition	NOUN
hassl-3690	66	3	,	,	PUNCT
hassl-3690	66	4	multiple	multiple	ADJ
hassl-3690	66	5	positions	position	NOUN
hassl-3690	66	6	can	can	AUX
hassl-3690	66	7	improve	improve	VERB
hassl-3690	66	8	corporate	corporate	ADJ
hassl-3690	66	9	governance	governance	NOUN
hassl-3690	66	10	because	because	SCONJ
hassl-3690	66	11	of	of	ADP
hassl-3690	66	12	the	the	DET
hassl-3690	66	13	board	board	NOUN
hassl-3690	66	14	of	of	ADP
hassl-3690	66	15	commissioners	commissioner	NOUN
hassl-3690	66	16	'	'	PART
hassl-3690	66	17	experience	experience	NOUN
hassl-3690	66	18	and	and	CCONJ
hassl-3690	66	19	knowledge	knowledge	NOUN
hassl-3690	66	20	.	.	PUNCT
hassl-3690	67	1	multiple	multiple	ADJ
hassl-3690	67	2	directorships	directorship	NOUN
hassl-3690	67	3	are	be	AUX
hassl-3690	67	4	controversial	controversial	ADJ
hassl-3690	67	5	because	because	SCONJ
hassl-3690	67	6	of	of	ADP
hassl-3690	67	7	the	the	DET
hassl-3690	67	8	increased	increase	VERB
hassl-3690	67	9	workload	workload	NOUN
hassl-3690	67	10	and	and	CCONJ
hassl-3690	67	11	whether	whether	SCONJ
hassl-3690	67	12	the	the	DET
hassl-3690	67	13	question	question	NOUN
hassl-3690	67	14	of	of	ADP
hassl-3690	67	15	various	various	ADJ
hassl-3690	67	16	positions	position	NOUN
hassl-3690	67	17	in	in	ADP
hassl-3690	67	18	one	one	NUM
hassl-3690	67	19	company	company	NOUN
hassl-3690	67	20	with	with	ADP
hassl-3690	67	21	other	other	ADJ
hassl-3690	67	22	related	related	ADJ
hassl-3690	67	23	companies	company	NOUN
hassl-3690	67	24	will	will	AUX
hassl-3690	67	25	be	be	AUX
hassl-3690	67	26	influential	influential	ADJ
hassl-3690	67	27	.	.	PUNCT
hassl-3690	68	1	the	the	DET
hassl-3690	68	2	study	study	NOUN
hassl-3690	68	3	findings	finding	NOUN
hassl-3690	68	4	indicate	indicate	VERB
hassl-3690	68	5	that	that	SCONJ
hassl-3690	68	6	the	the	DET
hassl-3690	68	7	existence	existence	NOUN
hassl-3690	68	8	of	of	ADP
hassl-3690	68	9	large	large	ADJ
hassl-3690	68	10	shareholders	shareholder	NOUN
hassl-3690	68	11	can	can	AUX
hassl-3690	68	12	increase	increase	VERB
hassl-3690	68	13	the	the	DET
hassl-3690	68	14	idiosyncratic	idiosyncratic	ADJ
hassl-3690	68	15	risk	risk	NOUN
hassl-3690	68	16	that	that	PRON
hassl-3690	68	17	occurs	occur	VERB
hassl-3690	68	18	in	in	ADP
hassl-3690	68	19	the	the	DET
hassl-3690	68	20	company	company	NOUN
hassl-3690	68	21	.	.	PUNCT
hassl-3690	69	1	makhija	makhija	NOUN
hassl-3690	69	2	and	and	CCONJ
hassl-3690	69	3	patton	patton	PROPN
hassl-3690	69	4	(	(	PUNCT
hassl-3690	69	5	2004	2004	NUM
hassl-3690	69	6	)	)	PUNCT
hassl-3690	69	7	stated	state	VERB
hassl-3690	69	8	that	that	SCONJ
hassl-3690	69	9	the	the	PRON
hassl-3690	69	10	greater	great	ADJ
hassl-3690	69	11	the	the	DET
hassl-3690	69	12	quantity	quantity	NOUN
hassl-3690	69	13	of	of	ADP
hassl-3690	69	14	large	large	ADJ
hassl-3690	69	15	shareholders	shareholder	NOUN
hassl-3690	69	16	,	,	PUNCT
hassl-3690	69	17	indirectly	indirectly	ADV
hassl-3690	69	18	,	,	PUNCT
hassl-3690	69	19	the	the	PRON
hassl-3690	69	20	weaker	weak	ADJ
hassl-3690	69	21	the	the	DET
hassl-3690	69	22	disclosure	disclosure	NOUN
hassl-3690	69	23	due	due	ADP
hassl-3690	69	24	to	to	ADP
hassl-3690	69	25	conflicts	conflict	NOUN
hassl-3690	69	26	of	of	ADP
hassl-3690	69	27	interest	interest	NOUN
hassl-3690	69	28	,	,	PUNCT
hassl-3690	69	29	thus	thus	ADV
hassl-3690	69	30	potentially	potentially	ADV
hassl-3690	69	31	increasing	increase	VERB
hassl-3690	69	32	the	the	DET
hassl-3690	69	33	company	company	NOUN
hassl-3690	69	34	's	's	PART
hassl-3690	69	35	risk	risk	NOUN
hassl-3690	69	36	because	because	SCONJ
hassl-3690	69	37	large	large	ADJ
hassl-3690	69	38	shareholders	shareholder	NOUN
hassl-3690	69	39	get	get	VERB
hassl-3690	69	40	higher	high	ADJ
hassl-3690	69	41	benefits	benefit	NOUN
hassl-3690	69	42	(	(	PUNCT
hassl-3690	69	43	shared	share	VERB
hassl-3690	69	44	benefits	benefit	NOUN
hassl-3690	69	45	and	and	CCONJ
hassl-3690	69	46	direct	direct	ADJ
hassl-3690	69	47	benefits	benefit	NOUN
hassl-3690	69	48	)	)	PUNCT
hassl-3690	69	49	.	.	PUNCT
hassl-3690	70	1	henceforth	henceforth	ADV
hassl-3690	70	2	,	,	PUNCT
hassl-3690	70	3	there	there	PRON
hassl-3690	70	4	is	be	VERB
hassl-3690	70	5	a	a	DET
hassl-3690	70	6	relationship	relationship	NOUN
hassl-3690	70	7	between	between	ADP
hassl-3690	70	8	idiosyncratic	idiosyncratic	ADJ
hassl-3690	70	9	risk	risk	NOUN
hassl-3690	70	10	and	and	CCONJ
hassl-3690	70	11	large	large	ADJ
hassl-3690	70	12	shareholders	shareholder	NOUN
hassl-3690	70	13	and	and	CCONJ
hassl-3690	70	14	the	the	DET
hassl-3690	70	15	role	role	NOUN
hassl-3690	70	16	of	of	ADP
hassl-3690	70	17	busy	busy	ADJ
hassl-3690	70	18	directors	director	NOUN
hassl-3690	70	19	indicating	indicate	VERB
hassl-3690	70	20	that	that	SCONJ
hassl-3690	70	21	the	the	DET
hassl-3690	70	22	reputational	reputational	ADJ
hassl-3690	70	23	theory	theory	NOUN
hassl-3690	70	24	is	be	AUX
hassl-3690	70	25	acceptable	acceptable	ADJ
hassl-3690	70	26	.	.	PUNCT
hassl-3690	71	1	the	the	DET
hassl-3690	71	2	remaining	remain	VERB
hassl-3690	71	3	sections	section	NOUN
hassl-3690	71	4	of	of	ADP
hassl-3690	71	5	the	the	DET
hassl-3690	71	6	paper	paper	NOUN
hassl-3690	71	7	are	be	AUX
hassl-3690	71	8	arranged	arrange	VERB
hassl-3690	71	9	as	as	SCONJ
hassl-3690	71	10	follows	follow	VERB
hassl-3690	71	11	:	:	PUNCT
hassl-3690	71	12	section	section	NOUN
hassl-3690	71	13	1	1	NUM
hassl-3690	71	14	is	be	AUX
hassl-3690	71	15	about	about	ADP
hassl-3690	71	16	the	the	DET
hassl-3690	71	17	introduction	introduction	NOUN
hassl-3690	71	18	.	.	PUNCT
hassl-3690	72	1	section	section	NOUN
hassl-3690	72	2	2	2	NUM
hassl-3690	72	3	is	be	AUX
hassl-3690	72	4	about	about	ADP
hassl-3690	72	5	a	a	DET
hassl-3690	72	6	literature	literature	NOUN
hassl-3690	72	7	review	review	NOUN
hassl-3690	72	8	and	and	CCONJ
hassl-3690	72	9	hypotheses	hypothese	VERB
hassl-3690	72	10	development	development	NOUN
hassl-3690	72	11	.	.	PUNCT
hassl-3690	73	1	section	section	NOUN
hassl-3690	73	2	3	3	NUM
hassl-3690	73	3	is	be	AUX
hassl-3690	73	4	about	about	ADP
hassl-3690	73	5	research	research	NOUN
hassl-3690	73	6	methods	method	NOUN
hassl-3690	73	7	.	.	PUNCT
hassl-3690	74	1	section	section	NOUN
hassl-3690	74	2	4	4	NUM
hassl-3690	74	3	is	be	AUX
hassl-3690	74	4	about	about	ADP
hassl-3690	74	5	results	result	NOUN
hassl-3690	74	6	.	.	PUNCT
hassl-3690	75	1	section	section	NOUN
hassl-3690	75	2	5	5	NUM
hassl-3690	75	3	is	be	AUX
hassl-3690	75	4	about	about	ADP
hassl-3690	75	5	discussion	discussion	NOUN
hassl-3690	75	6	.	.	PUNCT
hassl-3690	76	1	section	section	NOUN
hassl-3690	76	2	6	6	NUM
hassl-3690	76	3	is	be	AUX
hassl-3690	76	4	about	about	ADP
hassl-3690	76	5	robustness	robustness	NOUN
hassl-3690	76	6	tests	test	NOUN
hassl-3690	76	7	.	.	PUNCT
hassl-3690	77	1	section	section	NOUN
hassl-3690	77	2	7	7	NUM
hassl-3690	77	3	discusses	discuss	VERB
hassl-3690	77	4	the	the	DET
hassl-3690	77	5	conclusion	conclusion	NOUN
hassl-3690	77	6	.	.	PUNCT
hassl-3690	78	1	limitations	limitation	NOUN
hassl-3690	78	2	and	and	CCONJ
hassl-3690	78	3	directions	direction	NOUN
hassl-3690	78	4	for	for	ADP
hassl-3690	78	5	future	future	ADJ
hassl-3690	78	6	research	research	NOUN
hassl-3690	78	7	are	be	AUX
hassl-3690	78	8	given	give	VERB
hassl-3690	78	9	in	in	ADP
hassl-3690	78	10	section	section	NOUN
hassl-3690	78	11	8	8	NUM
hassl-3690	78	12	.	.	NOUN
hassl-3690	79	1	2	2	X
hassl-3690	79	2	.	.	X
hassl-3690	79	3	literature	literature	NOUN
hassl-3690	79	4	review	review	PROPN
hassl-3690	79	5	and	and	CCONJ
hassl-3690	79	6	hypothesis	hypothesis	NOUN
hassl-3690	79	7	development	development	NOUN
hassl-3690	79	8	2.1	2.1	NUM
hassl-3690	79	9	.	.	PUNCT
hassl-3690	80	1	idiosyncratic	idiosyncratic	ADJ
hassl-3690	80	2	risk	risk	NOUN
hassl-3690	80	3	risks	risk	NOUN
hassl-3690	80	4	that	that	PRON
hassl-3690	80	5	can	can	AUX
hassl-3690	80	6	be	be	AUX
hassl-3690	80	7	diversified	diversify	VERB
hassl-3690	80	8	are	be	AUX
hassl-3690	80	9	special	special	ADJ
hassl-3690	80	10	risks	risk	NOUN
hassl-3690	80	11	or	or	CCONJ
hassl-3690	80	12	idiosyncratic	idiosyncratic	ADJ
hassl-3690	80	13	risks	risk	NOUN
hassl-3690	80	14	from	from	ADP
hassl-3690	80	15	within	within	ADP
hassl-3690	80	16	the	the	DET
hassl-3690	80	17	company	company	NOUN
hassl-3690	80	18	.	.	PUNCT
hassl-3690	81	1	the	the	DET
hassl-3690	81	2	possibility	possibility	NOUN
hassl-3690	81	3	of	of	ADP
hassl-3690	81	4	an	an	DET
hassl-3690	81	5	idiosyncratic	idiosyncratic	ADJ
hassl-3690	81	6	risk	risk	NOUN
hassl-3690	81	7	materializing	materialize	VERB
hassl-3690	81	8	can	can	AUX
hassl-3690	81	9	be	be	AUX
hassl-3690	81	10	decreased	decrease	VERB
hassl-3690	81	11	through	through	ADP
hassl-3690	81	12	diversification	diversification	NOUN
hassl-3690	81	13	.	.	PUNCT
hassl-3690	82	1	diversification	diversification	NOUN
hassl-3690	82	2	to	to	PART
hassl-3690	82	3	minimize	minimize	VERB
hassl-3690	82	4	or	or	CCONJ
hassl-3690	82	5	reduce	reduce	VERB
hassl-3690	82	6	risk	risk	NOUN
hassl-3690	82	7	depends	depend	VERB
hassl-3690	82	8	on	on	ADP
hassl-3690	82	9	the	the	DET
hassl-3690	82	10	relationship	relationship	NOUN
hassl-3690	82	11	between	between	ADP
hassl-3690	82	12	stocks	stock	NOUN
hassl-3690	82	13	.	.	PUNCT
hassl-3690	83	1	fu	fu	PROPN
hassl-3690	83	2	(	(	PUNCT
hassl-3690	83	3	2009	2009	NUM
hassl-3690	83	4	)	)	PUNCT
hassl-3690	83	5	defines	define	VERB
hassl-3690	83	6	idiosyncratic	idiosyncratic	ADJ
hassl-3690	83	7	risk	risk	NOUN
hassl-3690	83	8	as	as	ADP
hassl-3690	83	9	a	a	DET
hassl-3690	83	10	unique	unique	ADJ
hassl-3690	83	11	and	and	CCONJ
hassl-3690	83	12	specific	specific	ADJ
hassl-3690	83	13	risk	risk	NOUN
hassl-3690	83	14	so	so	SCONJ
hassl-3690	83	15	it	it	PRON
hassl-3690	83	16	is	be	AUX
hassl-3690	83	17	often	often	ADV
hassl-3690	83	18	referred	refer	VERB
hassl-3690	83	19	to	to	ADP
hassl-3690	83	20	as	as	ADP
hassl-3690	83	21	firm	firm	ADJ
hassl-3690	83	22	-	-	PUNCT
hassl-3690	83	23	specific	specific	ADJ
hassl-3690	83	24	risk	risk	NOUN
hassl-3690	83	25	because	because	SCONJ
hassl-3690	83	26	the	the	DET
hassl-3690	83	27	risks	risk	NOUN
hassl-3690	83	28	can	can	AUX
hassl-3690	83	29	be	be	AUX
hassl-3690	83	30	offset	offset	VERB
hassl-3690	83	31	by	by	ADP
hassl-3690	83	32	the	the	DET
hassl-3690	83	33	good	good	ADJ
hassl-3690	83	34	things	thing	NOUN
hassl-3690	83	35	that	that	PRON
hassl-3690	83	36	happen	happen	VERB
hassl-3690	83	37	in	in	ADP
hassl-3690	83	38	other	other	ADJ
hassl-3690	83	39	companies	company	NOUN
hassl-3690	83	40	.	.	PUNCT
hassl-3690	84	1	the	the	DET
hassl-3690	84	2	fundamental	fundamental	ADJ
hassl-3690	84	3	idea	idea	NOUN
hassl-3690	84	4	of	of	ADP
hassl-3690	84	5	idiosyncratic	idiosyncratic	ADJ
hassl-3690	84	6	risk	risk	NOUN
hassl-3690	84	7	is	be	AUX
hassl-3690	84	8	a	a	DET
hassl-3690	84	9	modern	modern	ADJ
hassl-3690	84	10	portfolio	portfolio	NOUN
hassl-3690	84	11	developed	develop	VERB
hassl-3690	84	12	into	into	ADP
hassl-3690	84	13	the	the	DET
hassl-3690	84	14	capital	capital	NOUN
hassl-3690	84	15	asset	asset	NOUN
hassl-3690	84	16	pricing	pricing	NOUN
hassl-3690	84	17	model	model	NOUN
hassl-3690	84	18	(	(	PUNCT
hassl-3690	84	19	capm	capm	PROPN
hassl-3690	84	20	)	)	PUNCT
hassl-3690	84	21	(	(	PUNCT
hassl-3690	84	22	lintner	lintner	NOUN
hassl-3690	84	23	,	,	PUNCT
hassl-3690	84	24	1965	1965	NUM
hassl-3690	84	25	;	;	PUNCT
hassl-3690	84	26	mossin	mossin	NOUN
hassl-3690	84	27	,	,	PUNCT
hassl-3690	84	28	1966	1966	NUM
hassl-3690	84	29	;	;	PUNCT
hassl-3690	84	30	sharpe	sharpe	PROPN
hassl-3690	84	31	,	,	PUNCT
hassl-3690	84	32	1964	1964	NUM
hassl-3690	84	33	)	)	PUNCT
hassl-3690	84	34	.	.	PUNCT
hassl-3690	85	1	an	an	DET
hassl-3690	85	2	investor	investor	NOUN
hassl-3690	85	3	can	can	AUX
hassl-3690	85	4	look	look	VERB
hassl-3690	85	5	for	for	ADP
hassl-3690	85	6	an	an	DET
hassl-3690	85	7	equilibrium	equilibrium	NOUN
hassl-3690	85	8	point	point	NOUN
hassl-3690	85	9	or	or	CCONJ
hassl-3690	85	10	an	an	DET
hassl-3690	85	11	optimal	optimal	ADJ
hassl-3690	85	12	portfolio	portfolio	NOUN
hassl-3690	85	13	when	when	SCONJ
hassl-3690	85	14	investing	invest	VERB
hassl-3690	85	15	in	in	ADP
hassl-3690	85	16	a	a	DET
hassl-3690	85	17	risky	risky	ADJ
hassl-3690	85	18	asset	asset	NOUN
hassl-3690	85	19	portfolio	portfolio	NOUN
hassl-3690	85	20	that	that	PRON
hassl-3690	85	21	follows	follow	VERB
hassl-3690	85	22	the	the	DET
hassl-3690	85	23	assets	asset	NOUN
hassl-3690	85	24	from	from	ADP
hassl-3690	85	25	the	the	DET
hassl-3690	85	26	market	market	NOUN
hassl-3690	85	27	portfolio	portfolio	NOUN
hassl-3690	85	28	stated	state	VERB
hassl-3690	85	29	in	in	ADP
hassl-3690	85	30	the	the	DET
hassl-3690	85	31	capm	capm	PROPN
hassl-3690	85	32	theory	theory	NOUN
hassl-3690	85	33	.	.	PUNCT
hassl-3690	86	1	idiosyncratic	idiosyncratic	ADJ
hassl-3690	86	2	risk	risk	NOUN
hassl-3690	86	3	is	be	AUX
hassl-3690	86	4	not	not	PART
hassl-3690	86	5	taken	take	VERB
hassl-3690	86	6	into	into	ADP
hassl-3690	86	7	account	account	NOUN
hassl-3690	86	8	when	when	SCONJ
hassl-3690	86	9	estimating	estimate	VERB
hassl-3690	86	10	expected	expect	VERB
hassl-3690	86	11	return	return	NOUN
hassl-3690	86	12	and	and	CCONJ
hassl-3690	86	13	asset	asset	NOUN
hassl-3690	86	14	valuation	valuation	NOUN
hassl-3690	86	15	at	at	ADP
hassl-3690	86	16	an	an	DET
hassl-3690	86	17	optimal	optimal	ADJ
hassl-3690	86	18	equilibrium	equilibrium	NOUN
hassl-3690	86	19	point	point	NOUN
hassl-3690	86	20	because	because	SCONJ
hassl-3690	86	21	diversification	diversification	NOUN
hassl-3690	86	22	can	can	AUX
hassl-3690	86	23	effectively	effectively	ADV
hassl-3690	86	24	and	and	CCONJ
hassl-3690	86	25	cost	cost	VERB
hassl-3690	86	26	-free	-free	NOUN
hassl-3690	86	27	minimize	minimize	VERB
hassl-3690	86	28	idiosyncratic	idiosyncratic	ADJ
hassl-3690	86	29	risk	risk	NOUN
hassl-3690	86	30	.	.	PUNCT
hassl-3690	87	1	markowitz	markowitz	NOUN
hassl-3690	87	2	(	(	PUNCT
hassl-3690	87	3	1991	1991	NUM
hassl-3690	87	4	)	)	PUNCT
hassl-3690	87	5	suggests	suggest	VERB
hassl-3690	87	6	that	that	SCONJ
hassl-3690	87	7	idiosyncratic	idiosyncratic	ADJ
hassl-3690	87	8	risk	risk	NOUN
hassl-3690	87	9	can	can	AUX
hassl-3690	87	10	be	be	AUX
hassl-3690	87	11	reduced	reduce	VERB
hassl-3690	87	12	in	in	ADP
hassl-3690	87	13	a	a	DET
hassl-3690	87	14	well	well	ADV
hassl-3690	87	15	-	-	PUNCT
hassl-3690	87	16	diversified	diversify	VERB
hassl-3690	87	17	portfolio	portfolio	NOUN
hassl-3690	87	18	.	.	PUNCT
hassl-3690	88	1	alternative	alternative	ADJ
hassl-3690	88	2	asset	asset	NOUN
hassl-3690	88	3	pricing	pricing	NOUN
hassl-3690	88	4	models	model	NOUN
hassl-3690	88	5	that	that	PRON
hassl-3690	88	6	can	can	AUX
hassl-3690	88	7	explain	explain	VERB
hassl-3690	88	8	predicted	predict	VERB
hassl-3690	88	9	returns	return	NOUN
hassl-3690	88	10	on	on	ADP
hassl-3690	88	11	stocks	stock	NOUN
hassl-3690	88	12	are	be	AUX
hassl-3690	88	13	necessary	necessary	ADJ
hassl-3690	88	14	because	because	SCONJ
hassl-3690	88	15	the	the	DET
hassl-3690	88	16	capital	capital	NOUN
hassl-3690	88	17	asset	asset	NOUN
hassl-3690	88	18	pricing	pricing	NOUN
hassl-3690	88	19	model	model	NOUN
hassl-3690	88	20	is	be	AUX
hassl-3690	88	21	unable	unable	ADJ
hassl-3690	88	22	to	to	PART
hassl-3690	88	23	account	account	VERB
hassl-3690	88	24	for	for	ADP
hassl-3690	88	25	company	company	NOUN
hassl-3690	88	26	-	-	PUNCT
hassl-3690	88	27	specific	specific	ADJ
hassl-3690	88	28	characteristics	characteristic	NOUN
hassl-3690	88	29	.	.	PUNCT
hassl-3690	89	1	alternative	alternative	ADJ
hassl-3690	89	2	models	model	NOUN
hassl-3690	89	3	of	of	ADP
hassl-3690	89	4	asset	asset	NOUN
hassl-3690	89	5	pricing	pricing	NOUN
hassl-3690	89	6	have	have	AUX
hassl-3690	89	7	been	be	AUX
hassl-3690	89	8	proposed	propose	VERB
hassl-3690	89	9	to	to	PART
hassl-3690	89	10	clarify	clarify	VERB
hassl-3690	89	11	predicted	predict	VERB
hassl-3690	89	12	stock	stock	NOUN
hassl-3690	89	13	returns	return	NOUN
hassl-3690	89	14	because	because	SCONJ
hassl-3690	89	15	some	some	DET
hassl-3690	89	16	related	related	ADJ
hassl-3690	89	17	literature	literature	NOUN
hassl-3690	89	18	indicates	indicate	VERB
hassl-3690	89	19	that	that	SCONJ
hassl-3690	89	20	the	the	DET
hassl-3690	89	21	capm	capm	PROPN
hassl-3690	89	22	is	be	AUX
hassl-3690	89	23	unable	unable	ADJ
hassl-3690	89	24	to	to	PART
hassl-3690	89	25	account	account	VERB
hassl-3690	89	26	for	for	ADP
hassl-3690	89	27	the	the	DET
hassl-3690	89	28	significance	significance	NOUN
hassl-3690	89	29	of	of	ADP
hassl-3690	89	30	company	company	NOUN
hassl-3690	89	31	-	-	PUNCT
hassl-3690	89	32	specific	specific	ADJ
hassl-3690	89	33	factors	factor	NOUN
hassl-3690	89	34	.	.	PUNCT
hassl-3690	90	1	idiosyncratic	idiosyncratic	ADJ
hassl-3690	90	2	risk	risk	NOUN
hassl-3690	90	3	in	in	ADP
hassl-3690	90	4	pricing	pricing	NOUN
hassl-3690	90	5	models	model	NOUN
hassl-3690	90	6	is	be	AUX
hassl-3690	90	7	susceptible	susceptible	ADJ
hassl-3690	90	8	to	to	ADP
hassl-3690	90	9	factor	factor	NOUN
hassl-3690	90	10	loadings	loading	NOUN
hassl-3690	90	11	.	.	PUNCT
hassl-3690	91	1	previous	previous	ADJ
hassl-3690	91	2	research	research	NOUN
hassl-3690	91	3	has	have	AUX
hassl-3690	91	4	shown	show	VERB
hassl-3690	91	5	that	that	SCONJ
hassl-3690	91	6	using	use	VERB
hassl-3690	91	7	imperfect	imperfect	ADJ
hassl-3690	91	8	capital	capital	NOUN
hassl-3690	91	9	markets	market	NOUN
hassl-3690	91	10	and	and	CCONJ
hassl-3690	91	11	under	under	NOUN
hassl-3690	91	12	-	-	PUNCT
hassl-3690	91	13	diversification	diversification	NOUN
hassl-3690	91	14	approaches	approach	NOUN
hassl-3690	91	15	can	can	AUX
hassl-3690	91	16	determine	determine	VERB
hassl-3690	91	17	expected	expect	VERB
hassl-3690	91	18	stock	stock	NOUN
hassl-3690	91	19	returns	return	NOUN
hassl-3690	91	20	between	between	ADP
hassl-3690	91	21	countries	country	NOUN
hassl-3690	91	22	by	by	ADP
hassl-3690	91	23	conducting	conduct	VERB
hassl-3690	91	24	idiosyncratic	idiosyncratic	ADJ
hassl-3690	91	25	risk	risk	NOUN
hassl-3690	91	26	analysis	analysis	NOUN
hassl-3690	91	27	on	on	ADP
hassl-3690	91	28	humanities	humanity	NOUN
hassl-3690	91	29	and	and	CCONJ
hassl-3690	91	30	social	social	ADJ
hassl-3690	91	31	sciences	science	NOUN
hassl-3690	91	32	letters	letter	NOUN
hassl-3690	91	33	,	,	PUNCT
hassl-3690	91	34	2024	2024	NUM
hassl-3690	91	35	,	,	PUNCT
hassl-3690	91	36	12(2	12(2	NUM
hassl-3690	91	37	):	):	PUNCT
hassl-3690	91	38	218	218	NUM
hassl-3690	91	39	-	-	SYM
hassl-3690	91	40	232	232	NUM
hassl-3690	91	41	221	221	NUM
hassl-3690	91	42	©	©	PROPN
hassl-3690	91	43	2024	2024	NUM
hassl-3690	91	44	conscientia	conscientia	PROPN
hassl-3690	91	45	beam	beam	PROPN
hassl-3690	91	46	.	.	PUNCT
hassl-3690	92	1	all	all	DET
hassl-3690	92	2	rights	right	NOUN
hassl-3690	92	3	reserved	reserve	VERB
hassl-3690	92	4	.	.	PUNCT
hassl-3690	93	1	stock	stock	NOUN
hassl-3690	93	2	returns	return	NOUN
hassl-3690	93	3	.	.	PUNCT
hassl-3690	94	1	research	research	NOUN
hassl-3690	94	2	has	have	AUX
hassl-3690	94	3	focused	focus	VERB
hassl-3690	94	4	on	on	ADP
hassl-3690	94	5	idiosyncratic	idiosyncratic	ADJ
hassl-3690	94	6	risk	risk	NOUN
hassl-3690	94	7	explicitly	explicitly	ADV
hassl-3690	94	8	in	in	ADP
hassl-3690	94	9	order	order	NOUN
hassl-3690	94	10	to	to	PART
hassl-3690	94	11	explain	explain	VERB
hassl-3690	94	12	idiosyncratic	idiosyncratic	ADJ
hassl-3690	94	13	risk	risk	NOUN
hassl-3690	94	14	's	's	PART
hassl-3690	94	15	behavior	behavior	NOUN
hassl-3690	94	16	and	and	CCONJ
hassl-3690	94	17	some	some	PRON
hassl-3690	94	18	of	of	ADP
hassl-3690	94	19	its	its	PRON
hassl-3690	94	20	possible	possible	ADJ
hassl-3690	94	21	drivers	driver	NOUN
hassl-3690	94	22	.	.	PUNCT
hassl-3690	95	1	in	in	ADP
hassl-3690	95	2	their	their	PRON
hassl-3690	95	3	study	study	NOUN
hassl-3690	95	4	,	,	PUNCT
hassl-3690	95	5	rubin	rubin	PROPN
hassl-3690	95	6	and	and	CCONJ
hassl-3690	95	7	smith	smith	PROPN
hassl-3690	95	8	(	(	PUNCT
hassl-3690	95	9	2011	2011	NUM
hassl-3690	95	10	)	)	PUNCT
hassl-3690	95	11	noted	note	VERB
hassl-3690	95	12	that	that	SCONJ
hassl-3690	95	13	every	every	DET
hassl-3690	95	14	organisation	organisation	NOUN
hassl-3690	95	15	has	have	VERB
hassl-3690	95	16	unique	unique	ADJ
hassl-3690	95	17	circumstances	circumstance	NOUN
hassl-3690	95	18	.	.	PUNCT
hassl-3690	96	1	it	it	PRON
hassl-3690	96	2	is	be	AUX
hassl-3690	96	3	impossible	impossible	ADJ
hassl-3690	96	4	to	to	PART
hassl-3690	96	5	make	make	VERB
hassl-3690	96	6	firm	firm	ADJ
hassl-3690	96	7	judgements	judgement	NOUN
hassl-3690	96	8	about	about	ADP
hassl-3690	96	9	the	the	DET
hassl-3690	96	10	factors	factor	NOUN
hassl-3690	96	11	influencing	influence	VERB
hassl-3690	96	12	idiosyncratic	idiosyncratic	ADJ
hassl-3690	96	13	risk	risk	NOUN
hassl-3690	96	14	due	due	ADP
hassl-3690	96	15	to	to	ADP
hassl-3690	96	16	variations	variation	NOUN
hassl-3690	96	17	in	in	ADP
hassl-3690	96	18	the	the	DET
hassl-3690	96	19	company	company	NOUN
hassl-3690	96	20	's	's	PART
hassl-3690	96	21	circumstances	circumstance	NOUN
hassl-3690	96	22	.	.	PUNCT
hassl-3690	97	1	2.2	2.2	NUM
hassl-3690	97	2	.	.	PUNCT
hassl-3690	98	1	large	large	ADJ
hassl-3690	98	2	shareholders	shareholder	NOUN
hassl-3690	98	3	in	in	ADP
hassl-3690	98	4	a	a	DET
hassl-3690	98	5	company	company	NOUN
hassl-3690	98	6	,	,	PUNCT
hassl-3690	98	7	there	there	PRON
hassl-3690	98	8	are	be	VERB
hassl-3690	98	9	two	two	NUM
hassl-3690	98	10	groups	group	NOUN
hassl-3690	98	11	of	of	ADP
hassl-3690	98	12	shareholders	shareholder	NOUN
hassl-3690	98	13	,	,	PUNCT
hassl-3690	98	14	namely	namely	ADV
hassl-3690	98	15	large	large	ADJ
hassl-3690	98	16	shareholders	shareholder	NOUN
hassl-3690	98	17	and	and	CCONJ
hassl-3690	98	18	small	small	ADJ
hassl-3690	98	19	shareholders	shareholder	NOUN
hassl-3690	98	20	.	.	PUNCT
hassl-3690	99	1	the	the	DET
hassl-3690	99	2	company	company	NOUN
hassl-3690	99	3	's	's	PART
hassl-3690	99	4	ownership	ownership	NOUN
hassl-3690	99	5	structure	structure	NOUN
hassl-3690	99	6	can	can	AUX
hassl-3690	99	7	have	have	VERB
hassl-3690	99	8	various	various	ADJ
hassl-3690	99	9	forms	form	NOUN
hassl-3690	99	10	and	and	CCONJ
hassl-3690	99	11	combinations	combination	NOUN
hassl-3690	99	12	(	(	PUNCT
hassl-3690	99	13	anantharaman	anantharaman	NOUN
hassl-3690	99	14	&	&	CCONJ
hassl-3690	99	15	fang	fang	PROPN
hassl-3690	99	16	,	,	PUNCT
hassl-3690	99	17	2012	2012	NUM
hassl-3690	99	18	)	)	PUNCT
hassl-3690	99	19	.	.	PUNCT
hassl-3690	100	1	jensen	jensen	PROPN
hassl-3690	100	2	and	and	CCONJ
hassl-3690	100	3	meckling	meckling	NOUN
hassl-3690	100	4	(	(	PUNCT
hassl-3690	100	5	1976	1976	NUM
hassl-3690	100	6	)	)	PUNCT
hassl-3690	100	7	argue	argue	VERB
hassl-3690	100	8	that	that	SCONJ
hassl-3690	100	9	ownership	ownership	NOUN
hassl-3690	100	10	structure	structure	NOUN
hassl-3690	100	11	influences	influence	VERB
hassl-3690	100	12	how	how	SCONJ
hassl-3690	100	13	business	business	NOUN
hassl-3690	100	14	decisions	decision	NOUN
hassl-3690	100	15	are	be	AUX
hassl-3690	100	16	made	make	VERB
hassl-3690	100	17	and	and	CCONJ
hassl-3690	100	18	how	how	SCONJ
hassl-3690	100	19	management	management	NOUN
hassl-3690	100	20	is	be	AUX
hassl-3690	100	21	monitored	monitor	VERB
hassl-3690	100	22	and	and	CCONJ
hassl-3690	100	23	compensated	compensate	VERB
hassl-3690	100	24	which	which	PRON
hassl-3690	100	25	can	can	AUX
hassl-3690	100	26	significantly	significantly	ADV
hassl-3690	100	27	impact	impact	VERB
hassl-3690	100	28	the	the	DET
hassl-3690	100	29	company	company	NOUN
hassl-3690	100	30	's	's	PART
hassl-3690	100	31	risk	risk	NOUN
hassl-3690	100	32	.	.	PUNCT
hassl-3690	101	1	a	a	DET
hassl-3690	101	2	concentrated	concentrated	ADJ
hassl-3690	101	3	ownership	ownership	NOUN
hassl-3690	101	4	structure	structure	NOUN
hassl-3690	101	5	means	mean	VERB
hassl-3690	101	6	that	that	SCONJ
hassl-3690	101	7	a	a	DET
hassl-3690	101	8	controlling	control	VERB
hassl-3690	101	9	shareholder	shareholder	NOUN
hassl-3690	101	10	has	have	VERB
hassl-3690	101	11	a	a	DET
hassl-3690	101	12	conflict	conflict	NOUN
hassl-3690	101	13	of	of	ADP
hassl-3690	101	14	interest	interest	NOUN
hassl-3690	101	15	because	because	SCONJ
hassl-3690	101	16	ownership	ownership	NOUN
hassl-3690	101	17	of	of	ADP
hassl-3690	101	18	the	the	DET
hassl-3690	101	19	company	company	NOUN
hassl-3690	101	20	may	may	AUX
hassl-3690	101	21	be	be	AUX
hassl-3690	101	22	concentrated	concentrate	VERB
hassl-3690	101	23	around	around	ADP
hassl-3690	101	24	one	one	NUM
hassl-3690	101	25	party	party	NOUN
hassl-3690	101	26	referred	refer	VERB
hassl-3690	101	27	to	to	ADP
hassl-3690	101	28	as	as	ADP
hassl-3690	101	29	large	large	ADJ
hassl-3690	101	30	shareholders	shareholder	NOUN
hassl-3690	101	31	who	who	PRON
hassl-3690	101	32	own	own	VERB
hassl-3690	101	33	a	a	DET
hassl-3690	101	34	greater	great	ADJ
hassl-3690	101	35	percentage	percentage	NOUN
hassl-3690	101	36	of	of	ADP
hassl-3690	101	37	the	the	DET
hassl-3690	101	38	company	company	NOUN
hassl-3690	101	39	than	than	ADP
hassl-3690	101	40	other	other	ADJ
hassl-3690	101	41	shareholders	shareholder	NOUN
hassl-3690	101	42	(	(	PUNCT
hassl-3690	101	43	la	la	ADV
hassl-3690	101	44	porta	porta	X
hassl-3690	101	45	et	et	PROPN
hassl-3690	101	46	al	al	PROPN
hassl-3690	101	47	.	.	PROPN
hassl-3690	101	48	,	,	PUNCT
hassl-3690	101	49	1999	1999	NUM
hassl-3690	101	50	)	)	PUNCT
hassl-3690	101	51	.	.	PUNCT
hassl-3690	102	1	large	large	ADJ
hassl-3690	102	2	shareholders	shareholder	NOUN
hassl-3690	102	3	are	be	AUX
hassl-3690	102	4	shareholders	shareholder	NOUN
hassl-3690	102	5	with	with	ADP
hassl-3690	102	6	a	a	DET
hassl-3690	102	7	share	share	NOUN
hassl-3690	102	8	composition	composition	NOUN
hassl-3690	102	9	larger	large	ADJ
hassl-3690	102	10	than	than	ADP
hassl-3690	102	11	that	that	PRON
hassl-3690	102	12	of	of	ADP
hassl-3690	102	13	other	other	ADJ
hassl-3690	102	14	shareholders	shareholder	NOUN
hassl-3690	102	15	.	.	PUNCT
hassl-3690	103	1	therefore	therefore	ADV
hassl-3690	103	2	,	,	PUNCT
hassl-3690	103	3	large	large	ADJ
hassl-3690	103	4	shareholders	shareholder	NOUN
hassl-3690	103	5	have	have	VERB
hassl-3690	103	6	rights	right	NOUN
hassl-3690	103	7	in	in	ADP
hassl-3690	103	8	the	the	DET
hassl-3690	103	9	company	company	NOUN
hassl-3690	103	10	's	's	PART
hassl-3690	103	11	management	management	NOUN
hassl-3690	103	12	.	.	PUNCT
hassl-3690	104	1	large	large	ADJ
hassl-3690	104	2	shareholders	shareholder	NOUN
hassl-3690	104	3	can	can	AUX
hassl-3690	104	4	monitor	monitor	VERB
hassl-3690	104	5	and	and	CCONJ
hassl-3690	104	6	control	control	VERB
hassl-3690	104	7	shareholders	shareholder	NOUN
hassl-3690	104	8	so	so	SCONJ
hassl-3690	104	9	that	that	SCONJ
hassl-3690	104	10	they	they	PRON
hassl-3690	104	11	will	will	AUX
hassl-3690	104	12	not	not	PART
hassl-3690	104	13	act	act	VERB
hassl-3690	104	14	in	in	ADP
hassl-3690	104	15	a	a	DET
hassl-3690	104	16	way	way	NOUN
hassl-3690	104	17	that	that	PRON
hassl-3690	104	18	may	may	AUX
hassl-3690	104	19	harm	harm	VERB
hassl-3690	104	20	minority	minority	NOUN
hassl-3690	104	21	shareholders	shareholder	NOUN
hassl-3690	104	22	.	.	PUNCT
hassl-3690	105	1	lehmann	lehmann	PROPN
hassl-3690	105	2	and	and	CCONJ
hassl-3690	105	3	weigand	weigand	PROPN
hassl-3690	105	4	(	(	PUNCT
hassl-3690	105	5	2000	2000	NUM
hassl-3690	105	6	)	)	PUNCT
hassl-3690	105	7	suggest	suggest	VERB
hassl-3690	105	8	that	that	SCONJ
hassl-3690	105	9	the	the	DET
hassl-3690	105	10	existence	existence	NOUN
hassl-3690	105	11	of	of	ADP
hassl-3690	105	12	large	large	ADJ
hassl-3690	105	13	shareholders	shareholder	NOUN
hassl-3690	105	14	can	can	AUX
hassl-3690	105	15	contribute	contribute	VERB
hassl-3690	105	16	to	to	ADP
hassl-3690	105	17	sound	sound	VERB
hassl-3690	105	18	decision	decision	NOUN
hassl-3690	105	19	-	-	PUNCT
hassl-3690	105	20	making	making	NOUN
hassl-3690	105	21	for	for	ADP
hassl-3690	105	22	the	the	DET
hassl-3690	105	23	company	company	NOUN
hassl-3690	105	24	and	and	CCONJ
hassl-3690	105	25	increase	increase	VERB
hassl-3690	105	26	experience	experience	NOUN
hassl-3690	105	27	and	and	CCONJ
hassl-3690	105	28	professionalism	professionalism	NOUN
hassl-3690	105	29	in	in	ADP
hassl-3690	105	30	managing	manage	VERB
hassl-3690	105	31	the	the	DET
hassl-3690	105	32	company	company	NOUN
hassl-3690	105	33	.	.	PUNCT
hassl-3690	106	1	attig	attig	PROPN
hassl-3690	106	2	,	,	PUNCT
hassl-3690	106	3	el	el	PROPN
hassl-3690	106	4	ghoul	ghoul	PROPN
hassl-3690	106	5	,	,	PUNCT
hassl-3690	106	6	and	and	CCONJ
hassl-3690	106	7	guedhami	guedhami	NOUN
hassl-3690	106	8	(	(	PUNCT
hassl-3690	106	9	2009	2009	NUM
hassl-3690	106	10	)	)	PUNCT
hassl-3690	106	11	argue	argue	VERB
hassl-3690	106	12	that	that	SCONJ
hassl-3690	106	13	the	the	DET
hassl-3690	106	14	standard	standard	NOUN
hassl-3690	106	15	of	of	ADP
hassl-3690	106	16	corporate	corporate	ADJ
hassl-3690	106	17	governance	governance	NOUN
hassl-3690	106	18	will	will	AUX
hassl-3690	106	19	increase	increase	VERB
hassl-3690	106	20	with	with	ADP
hassl-3690	106	21	the	the	DET
hassl-3690	106	22	involvement	involvement	NOUN
hassl-3690	106	23	of	of	ADP
hassl-3690	106	24	large	large	ADJ
hassl-3690	106	25	shareholders	shareholder	NOUN
hassl-3690	106	26	in	in	ADP
hassl-3690	106	27	the	the	DET
hassl-3690	106	28	company	company	NOUN
hassl-3690	106	29	's	's	PART
hassl-3690	106	30	oversight	oversight	NOUN
hassl-3690	106	31	.	.	PUNCT
hassl-3690	107	1	according	accord	VERB
hassl-3690	107	2	to	to	ADP
hassl-3690	107	3	demsetz	demsetz	ADJ
hassl-3690	107	4	and	and	CCONJ
hassl-3690	107	5	lehn	lehn	NOUN
hassl-3690	107	6	(	(	PUNCT
hassl-3690	107	7	1985	1985	NUM
hassl-3690	107	8	)	)	PUNCT
hassl-3690	107	9	,	,	PUNCT
hassl-3690	107	10	enhanced	enhance	VERB
hassl-3690	107	11	control	control	NOUN
hassl-3690	107	12	and	and	CCONJ
hassl-3690	107	13	supervision	supervision	NOUN
hassl-3690	107	14	are	be	AUX
hassl-3690	107	15	primarily	primarily	ADV
hassl-3690	107	16	responsible	responsible	ADJ
hassl-3690	107	17	for	for	ADP
hassl-3690	107	18	the	the	DET
hassl-3690	107	19	presence	presence	NOUN
hassl-3690	107	20	of	of	ADP
hassl-3690	107	21	larger	large	ADJ
hassl-3690	107	22	shareholders	shareholder	NOUN
hassl-3690	107	23	.	.	PUNCT
hassl-3690	108	1	shleifer	shleifer	PROPN
hassl-3690	108	2	and	and	CCONJ
hassl-3690	108	3	vishny	vishny	PROPN
hassl-3690	108	4	(	(	PUNCT
hassl-3690	108	5	1997	1997	NUM
hassl-3690	108	6	)	)	PUNCT
hassl-3690	108	7	suggest	suggest	VERB
hassl-3690	108	8	that	that	SCONJ
hassl-3690	108	9	large	large	ADJ
hassl-3690	108	10	shareholders	shareholder	NOUN
hassl-3690	108	11	can	can	AUX
hassl-3690	108	12	help	help	VERB
hassl-3690	108	13	address	address	VERB
hassl-3690	108	14	agency	agency	NOUN
hassl-3690	108	15	conflicts	conflict	NOUN
hassl-3690	108	16	between	between	ADP
hassl-3690	108	17	owners	owner	NOUN
hassl-3690	108	18	and	and	CCONJ
hassl-3690	108	19	managers	manager	NOUN
hassl-3690	108	20	by	by	ADP
hassl-3690	108	21	monitoring	monitor	VERB
hassl-3690	108	22	management	management	NOUN
hassl-3690	108	23	and	and	CCONJ
hassl-3690	108	24	having	have	VERB
hassl-3690	108	25	enough	enough	ADJ
hassl-3690	108	26	voting	voting	NOUN
hassl-3690	108	27	power	power	NOUN
hassl-3690	108	28	to	to	PART
hassl-3690	108	29	exert	exert	VERB
hassl-3690	108	30	pressure	pressure	NOUN
hassl-3690	108	31	on	on	ADP
hassl-3690	108	32	it	it	PRON
hassl-3690	108	33	.	.	PUNCT
hassl-3690	109	1	hope	hope	NOUN
hassl-3690	109	2	(	(	PUNCT
hassl-3690	109	3	2013	2013	NUM
hassl-3690	109	4	)	)	PUNCT
hassl-3690	109	5	states	state	VERB
hassl-3690	109	6	that	that	SCONJ
hassl-3690	109	7	large	large	ADJ
hassl-3690	109	8	shareholders	shareholder	NOUN
hassl-3690	109	9	are	be	AUX
hassl-3690	109	10	an	an	DET
hassl-3690	109	11	important	important	ADJ
hassl-3690	109	12	part	part	NOUN
hassl-3690	109	13	of	of	ADP
hassl-3690	109	14	corporate	corporate	ADJ
hassl-3690	109	15	governance	governance	NOUN
hassl-3690	109	16	because	because	SCONJ
hassl-3690	109	17	monitoring	monitor	VERB
hassl-3690	109	18	that	that	PRON
hassl-3690	109	19	actively	actively	ADV
hassl-3690	109	20	involves	involve	VERB
hassl-3690	109	21	large	large	ADJ
hassl-3690	109	22	shareholders	shareholder	NOUN
hassl-3690	109	23	can	can	AUX
hassl-3690	109	24	hinder	hinder	VERB
hassl-3690	109	25	business	business	NOUN
hassl-3690	109	26	decisions	decision	NOUN
hassl-3690	109	27	that	that	PRON
hassl-3690	109	28	may	may	AUX
hassl-3690	109	29	be	be	AUX
hassl-3690	109	30	considered	consider	VERB
hassl-3690	109	31	less	less	ADJ
hassl-3690	109	32	than	than	ADP
hassl-3690	109	33	optimal	optimal	ADJ
hassl-3690	109	34	.	.	PUNCT
hassl-3690	110	1	according	accord	VERB
hassl-3690	110	2	to	to	ADP
hassl-3690	110	3	zhang	zhang	PROPN
hassl-3690	110	4	,	,	PUNCT
hassl-3690	110	5	jin	jin	PROPN
hassl-3690	110	6	,	,	PUNCT
hassl-3690	110	7	and	and	CCONJ
hassl-3690	110	8	chen	chen	PROPN
hassl-3690	110	9	's	's	PART
hassl-3690	110	10	(	(	PUNCT
hassl-3690	110	11	2023	2023	NUM
hassl-3690	110	12	)	)	PUNCT
hassl-3690	110	13	assertion	assertion	NOUN
hassl-3690	110	14	,	,	PUNCT
hassl-3690	110	15	the	the	DET
hassl-3690	110	16	presence	presence	NOUN
hassl-3690	110	17	of	of	ADP
hassl-3690	110	18	large	large	ADJ
hassl-3690	110	19	shareholders	shareholder	NOUN
hassl-3690	110	20	can	can	AUX
hassl-3690	110	21	help	help	VERB
hassl-3690	110	22	reduce	reduce	VERB
hassl-3690	110	23	the	the	DET
hassl-3690	110	24	risks	risk	NOUN
hassl-3690	110	25	associated	associate	VERB
hassl-3690	110	26	with	with	ADP
hassl-3690	110	27	businesses	business	NOUN
hassl-3690	110	28	where	where	SCONJ
hassl-3690	110	29	a	a	DET
hassl-3690	110	30	rise	rise	NOUN
hassl-3690	110	31	in	in	ADP
hassl-3690	110	32	the	the	DET
hassl-3690	110	33	percentage	percentage	NOUN
hassl-3690	110	34	of	of	ADP
hassl-3690	110	35	large	large	ADJ
hassl-3690	110	36	shareholders	shareholder	NOUN
hassl-3690	110	37	'	'	PART
hassl-3690	110	38	shares	share	NOUN
hassl-3690	110	39	is	be	AUX
hassl-3690	110	40	linked	link	VERB
hassl-3690	110	41	to	to	ADP
hassl-3690	110	42	insider	insider	NOUN
hassl-3690	110	43	trading	trading	NOUN
hassl-3690	110	44	.	.	PUNCT
hassl-3690	111	1	indonesian	indonesian	ADJ
hassl-3690	111	2	enterprises	enterprise	NOUN
hassl-3690	111	3	often	often	ADV
hassl-3690	111	4	have	have	VERB
hassl-3690	111	5	a	a	DET
hassl-3690	111	6	concentrated	concentrated	ADJ
hassl-3690	111	7	ownership	ownership	NOUN
hassl-3690	111	8	structure	structure	NOUN
hassl-3690	111	9	with	with	ADP
hassl-3690	111	10	a	a	DET
hassl-3690	111	11	small	small	ADJ
hassl-3690	111	12	number	number	NOUN
hassl-3690	111	13	of	of	ADP
hassl-3690	111	14	stockholders	stockholder	NOUN
hassl-3690	111	15	.	.	PUNCT
hassl-3690	112	1	most	most	ADJ
hassl-3690	112	2	of	of	ADP
hassl-3690	112	3	the	the	DET
hassl-3690	112	4	shares	share	NOUN
hassl-3690	112	5	are	be	AUX
hassl-3690	112	6	owned	own	VERB
hassl-3690	112	7	by	by	ADP
hassl-3690	112	8	corporate	corporate	ADJ
hassl-3690	112	9	groups	group	NOUN
hassl-3690	112	10	,	,	PUNCT
hassl-3690	112	11	majority	majority	NOUN
hassl-3690	112	12	shareholders	shareholder	NOUN
hassl-3690	112	13	or	or	CCONJ
hassl-3690	112	14	large	large	ADJ
hassl-3690	112	15	shareholders	shareholder	NOUN
hassl-3690	112	16	(	(	PUNCT
hassl-3690	112	17	claessens	claessen	NOUN
hassl-3690	112	18	et	et	PROPN
hassl-3690	112	19	al	al	PROPN
hassl-3690	112	20	.	.	PROPN
hassl-3690	112	21	,	,	PUNCT
hassl-3690	112	22	2000	2000	NUM
hassl-3690	112	23	)	)	PUNCT
hassl-3690	112	24	.	.	PUNCT
hassl-3690	113	1	concentrated	concentrated	ADJ
hassl-3690	113	2	ownership	ownership	NOUN
hassl-3690	113	3	can	can	AUX
hassl-3690	113	4	cause	cause	VERB
hassl-3690	113	5	agency	agency	NOUN
hassl-3690	113	6	conflicts	conflict	NOUN
hassl-3690	113	7	that	that	PRON
hassl-3690	113	8	shift	shift	VERB
hassl-3690	113	9	into	into	ADP
hassl-3690	113	10	agency	agency	NOUN
hassl-3690	113	11	problems	problem	NOUN
hassl-3690	113	12	between	between	ADP
hassl-3690	113	13	large	large	ADJ
hassl-3690	113	14	and	and	CCONJ
hassl-3690	113	15	small	small	ADJ
hassl-3690	113	16	shareholders	shareholder	NOUN
hassl-3690	113	17	,	,	PUNCT
hassl-3690	113	18	opening	open	VERB
hassl-3690	113	19	agency	agency	NOUN
hassl-3690	113	20	conflicts	conflict	NOUN
hassl-3690	113	21	between	between	ADP
hassl-3690	113	22	management	management	NOUN
hassl-3690	113	23	and	and	CCONJ
hassl-3690	113	24	shareholders	shareholder	NOUN
hassl-3690	113	25	.	.	PUNCT
hassl-3690	114	1	the	the	DET
hassl-3690	114	2	cause	cause	NOUN
hassl-3690	114	3	of	of	ADP
hassl-3690	114	4	agency	agency	NOUN
hassl-3690	114	5	problems	problem	NOUN
hassl-3690	114	6	is	be	AUX
hassl-3690	114	7	that	that	SCONJ
hassl-3690	114	8	large	large	ADJ
hassl-3690	114	9	shareholders	shareholder	NOUN
hassl-3690	114	10	can	can	AUX
hassl-3690	114	11	take	take	VERB
hassl-3690	114	12	private	private	ADJ
hassl-3690	114	13	benefits	benefit	NOUN
hassl-3690	114	14	from	from	ADP
hassl-3690	114	15	the	the	DET
hassl-3690	114	16	company	company	NOUN
hassl-3690	114	17	by	by	ADP
hassl-3690	114	18	appointing	appoint	VERB
hassl-3690	114	19	people	people	NOUN
hassl-3690	114	20	as	as	ADP
hassl-3690	114	21	management	management	NOUN
hassl-3690	114	22	.	.	PUNCT
hassl-3690	115	1	this	this	DET
hassl-3690	115	2	condition	condition	NOUN
hassl-3690	115	3	can	can	AUX
hassl-3690	115	4	motivate	motivate	VERB
hassl-3690	115	5	large	large	ADJ
hassl-3690	115	6	shareholders	shareholder	NOUN
hassl-3690	115	7	to	to	PART
hassl-3690	115	8	order	order	VERB
hassl-3690	115	9	management	management	NOUN
hassl-3690	115	10	to	to	PART
hassl-3690	115	11	take	take	VERB
hassl-3690	115	12	action	action	NOUN
hassl-3690	115	13	in	in	ADP
hassl-3690	115	14	the	the	DET
hassl-3690	115	15	interests	interest	NOUN
hassl-3690	115	16	of	of	ADP
hassl-3690	115	17	large	large	ADJ
hassl-3690	115	18	shareholders	shareholder	NOUN
hassl-3690	115	19	.	.	PUNCT
hassl-3690	116	1	the	the	DET
hassl-3690	116	2	same	same	ADJ
hassl-3690	116	3	thing	thing	NOUN
hassl-3690	116	4	was	be	AUX
hassl-3690	116	5	also	also	ADV
hassl-3690	116	6	stated	state	VERB
hassl-3690	116	7	by	by	ADP
hassl-3690	116	8	fan	fan	PROPN
hassl-3690	116	9	and	and	CCONJ
hassl-3690	116	10	wong	wong	PROPN
hassl-3690	116	11	(	(	PUNCT
hassl-3690	116	12	2002	2002	NUM
hassl-3690	116	13	)	)	PUNCT
hassl-3690	116	14	who	who	PRON
hassl-3690	116	15	made	make	VERB
hassl-3690	116	16	a	a	DET
hassl-3690	116	17	similar	similar	ADJ
hassl-3690	116	18	observation	observation	NOUN
hassl-3690	116	19	indicating	indicate	VERB
hassl-3690	116	20	that	that	SCONJ
hassl-3690	116	21	the	the	DET
hassl-3690	116	22	presence	presence	NOUN
hassl-3690	116	23	of	of	ADP
hassl-3690	116	24	large	large	ADJ
hassl-3690	116	25	shareholders	shareholder	NOUN
hassl-3690	116	26	as	as	ADP
hassl-3690	116	27	controlling	control	VERB
hassl-3690	116	28	shareholders	shareholder	NOUN
hassl-3690	116	29	can	can	AUX
hassl-3690	116	30	result	result	VERB
hassl-3690	116	31	in	in	ADP
hassl-3690	116	32	expropriation	expropriation	NOUN
hassl-3690	116	33	by	by	ADP
hassl-3690	116	34	allowing	allow	VERB
hassl-3690	116	35	them	they	PRON
hassl-3690	116	36	to	to	PART
hassl-3690	116	37	profit	profit	VERB
hassl-3690	116	38	privately	privately	ADV
hassl-3690	116	39	from	from	ADP
hassl-3690	116	40	deals	deal	NOUN
hassl-3690	116	41	that	that	PRON
hassl-3690	116	42	transfer	transfer	VERB
hassl-3690	116	43	profits	profit	NOUN
hassl-3690	116	44	to	to	ADP
hassl-3690	116	45	other	other	ADJ
hassl-3690	116	46	businesses	business	NOUN
hassl-3690	116	47	that	that	PRON
hassl-3690	116	48	are	be	AUX
hassl-3690	116	49	still	still	ADV
hassl-3690	116	50	under	under	ADP
hassl-3690	116	51	their	their	PRON
hassl-3690	116	52	control	control	NOUN
hassl-3690	116	53	or	or	CCONJ
hassl-3690	116	54	by	by	ADP
hassl-3690	116	55	influencing	influence	VERB
hassl-3690	116	56	corporate	corporate	ADJ
hassl-3690	116	57	policy	policy	NOUN
hassl-3690	116	58	for	for	ADP
hassl-3690	116	59	their	their	PRON
hassl-3690	116	60	own	own	ADJ
hassl-3690	116	61	purposes	purpose	NOUN
hassl-3690	116	62	.	.	PUNCT
hassl-3690	117	1	h1	h1	PROPN
hassl-3690	117	2	:	:	PUNCT
hassl-3690	117	3	large	large	ADJ
hassl-3690	117	4	shareholders	shareholder	NOUN
hassl-3690	117	5	have	have	VERB
hassl-3690	117	6	a	a	DET
hassl-3690	117	7	positive	positive	ADJ
hassl-3690	117	8	effect	effect	NOUN
hassl-3690	117	9	on	on	ADP
hassl-3690	117	10	idiosyncratic	idiosyncratic	ADJ
hassl-3690	117	11	risk	risk	NOUN
hassl-3690	117	12	.	.	PUNCT
hassl-3690	118	1	2.3	2.3	NUM
hassl-3690	118	2	.	.	PUNCT
hassl-3690	119	1	multiple	multiple	ADJ
hassl-3690	119	2	directorships	directorship	NOUN
hassl-3690	119	3	indonesia	indonesia	PROPN
hassl-3690	119	4	uses	use	VERB
hassl-3690	119	5	a	a	DET
hassl-3690	119	6	two	two	NUM
hassl-3690	119	7	-	-	PUNCT
hassl-3690	119	8	tier	tier	NOUN
hassl-3690	119	9	system	system	NOUN
hassl-3690	119	10	:	:	PUNCT
hassl-3690	119	11	indonesia	indonesia	PROPN
hassl-3690	119	12	financial	financial	PROPN
hassl-3690	119	13	services	services	PROPN
hassl-3690	119	14	authority	authority	NOUN
hassl-3690	119	15	(	(	PUNCT
hassl-3690	119	16	ojk	ojk	NOUN
hassl-3690	119	17	)	)	PUNCT
hassl-3690	119	18	regulation	regulation	NOUN
hassl-3690	119	19	number	number	NOUN
hassl-3690	119	20	33	33	NUM
hassl-3690	119	21	/	/	SYM
hassl-3690	119	22	pojk.04/2014	pojk.04/2014	PROPN
hassl-3690	119	23	(	(	PUNCT
hassl-3690	119	24	2014	2014	NUM
hassl-3690	119	25	)	)	PUNCT
hassl-3690	119	26	which	which	PRON
hassl-3690	119	27	restricts	restrict	VERB
hassl-3690	119	28	concurrent	concurrent	ADJ
hassl-3690	119	29	positions	position	NOUN
hassl-3690	119	30	,	,	PUNCT
hassl-3690	119	31	including	include	VERB
hassl-3690	119	32	the	the	DET
hassl-3690	119	33	board	board	NOUN
hassl-3690	119	34	of	of	ADP
hassl-3690	119	35	commissioners	commissioner	NOUN
hassl-3690	119	36	,	,	PUNCT
hassl-3690	119	37	contains	contain	VERB
hassl-3690	119	38	limitations	limitation	NOUN
hassl-3690	119	39	for	for	ADP
hassl-3690	119	40	multiple	multiple	ADJ
hassl-3690	119	41	directorships	directorship	NOUN
hassl-3690	119	42	.	.	PUNCT
hassl-3690	120	1	this	this	PRON
hassl-3690	120	2	is	be	AUX
hassl-3690	120	3	due	due	ADJ
hassl-3690	120	4	to	to	ADP
hassl-3690	120	5	the	the	DET
hassl-3690	120	6	fact	fact	NOUN
hassl-3690	120	7	that	that	SCONJ
hassl-3690	120	8	commissioners	commissioner	NOUN
hassl-3690	120	9	’	’	PART
hassl-3690	120	10	non	non	ADJ
hassl-3690	120	11	-	-	ADJ
hassl-3690	120	12	executive	executive	ADJ
hassl-3690	120	13	roles	role	NOUN
hassl-3690	120	14	and	and	CCONJ
hassl-3690	120	15	contributions	contribution	NOUN
hassl-3690	120	16	in	in	ADP
hassl-3690	120	17	the	the	DET
hassl-3690	120	18	two	two	NUM
hassl-3690	120	19	-	-	PUNCT
hassl-3690	120	20	tier	tier	NOUN
hassl-3690	120	21	system	system	NOUN
hassl-3690	120	22	structure	structure	NOUN
hassl-3690	120	23	are	be	AUX
hassl-3690	120	24	crucial	crucial	ADJ
hassl-3690	120	25	for	for	ADP
hassl-3690	120	26	supervising	supervise	VERB
hassl-3690	120	27	business	business	NOUN
hassl-3690	120	28	operations	operation	NOUN
hassl-3690	120	29	.	.	PUNCT
hassl-3690	121	1	increasing	increase	VERB
hassl-3690	121	2	the	the	DET
hassl-3690	121	3	ability	ability	NOUN
hassl-3690	121	4	,	,	PUNCT
hassl-3690	121	5	knowledge	knowledge	NOUN
hassl-3690	121	6	and	and	CCONJ
hassl-3690	121	7	expertise	expertise	NOUN
hassl-3690	121	8	of	of	ADP
hassl-3690	121	9	the	the	DET
hassl-3690	121	10	board	board	NOUN
hassl-3690	121	11	of	of	ADP
hassl-3690	121	12	commissioners	commissioner	NOUN
hassl-3690	121	13	who	who	PRON
hassl-3690	121	14	act	act	VERB
hassl-3690	121	15	as	as	ADP
hassl-3690	121	16	multiple	multiple	ADJ
hassl-3690	121	17	directors	director	NOUN
hassl-3690	121	18	provides	provide	VERB
hassl-3690	121	19	benefits	benefit	NOUN
hassl-3690	121	20	for	for	ADP
hassl-3690	121	21	the	the	DET
hassl-3690	121	22	humanities	humanity	NOUN
hassl-3690	121	23	and	and	CCONJ
hassl-3690	121	24	social	social	ADJ
hassl-3690	121	25	sciences	science	NOUN
hassl-3690	121	26	letters	letter	NOUN
hassl-3690	121	27	,	,	PUNCT
hassl-3690	121	28	2024	2024	NUM
hassl-3690	121	29	,	,	PUNCT
hassl-3690	121	30	12(2	12(2	NUM
hassl-3690	121	31	):	):	PUNCT
hassl-3690	121	32	218	218	NUM
hassl-3690	121	33	-	-	SYM
hassl-3690	121	34	232	232	NUM
hassl-3690	121	35	222	222	NUM
hassl-3690	121	36	©	©	PROPN
hassl-3690	121	37	2024	2024	NUM
hassl-3690	121	38	conscientia	conscientia	PROPN
hassl-3690	121	39	beam	beam	PROPN
hassl-3690	121	40	.	.	PUNCT
hassl-3690	122	1	all	all	DET
hassl-3690	122	2	rights	right	NOUN
hassl-3690	122	3	reserved	reserve	VERB
hassl-3690	122	4	.	.	PUNCT
hassl-3690	123	1	companies	company	NOUN
hassl-3690	123	2	they	they	PRON
hassl-3690	123	3	manage	manage	VERB
hassl-3690	123	4	.	.	PUNCT
hassl-3690	124	1	in	in	ADP
hassl-3690	124	2	addition	addition	NOUN
hassl-3690	124	3	,	,	PUNCT
hassl-3690	124	4	multiple	multiple	ADJ
hassl-3690	124	5	directorships	directorship	NOUN
hassl-3690	124	6	are	be	AUX
hassl-3690	124	7	able	able	ADJ
hassl-3690	124	8	to	to	PART
hassl-3690	124	9	obtain	obtain	VERB
hassl-3690	124	10	information	information	NOUN
hassl-3690	124	11	regarding	regard	VERB
hassl-3690	124	12	more	more	ADV
hassl-3690	124	13	profitable	profitable	ADJ
hassl-3690	124	14	investment	investment	NOUN
hassl-3690	124	15	options	option	NOUN
hassl-3690	124	16	(	(	PUNCT
hassl-3690	124	17	chou	chou	PROPN
hassl-3690	124	18	&	&	CCONJ
hassl-3690	124	19	feng	feng	PROPN
hassl-3690	124	20	,	,	PUNCT
hassl-3690	124	21	2019	2019	NUM
hassl-3690	124	22	)	)	PUNCT
hassl-3690	124	23	.	.	PUNCT
hassl-3690	125	1	in	in	ADP
hassl-3690	125	2	the	the	DET
hassl-3690	125	3	company	company	NOUN
hassl-3690	125	4	,	,	PUNCT
hassl-3690	125	5	the	the	DET
hassl-3690	125	6	board	board	NOUN
hassl-3690	125	7	of	of	ADP
hassl-3690	125	8	commissioners	commissioner	NOUN
hassl-3690	125	9	plays	play	VERB
hassl-3690	125	10	a	a	DET
hassl-3690	125	11	vital	vital	ADJ
hassl-3690	125	12	function	function	NOUN
hassl-3690	125	13	as	as	ADP
hassl-3690	125	14	the	the	DET
hassl-3690	125	15	oversight	oversight	NOUN
hassl-3690	125	16	body	body	NOUN
hassl-3690	125	17	.	.	PUNCT
hassl-3690	126	1	agency	agency	NOUN
hassl-3690	126	2	theory	theory	NOUN
hassl-3690	126	3	states	state	VERB
hassl-3690	126	4	that	that	SCONJ
hassl-3690	126	5	a	a	DET
hassl-3690	126	6	direction	direction	NOUN
hassl-3690	126	7	board	board	NOUN
hassl-3690	126	8	also	also	ADV
hassl-3690	126	9	known	know	VERB
hassl-3690	126	10	as	as	ADP
hassl-3690	126	11	a	a	DET
hassl-3690	126	12	commissioner	commissioner	NOUN
hassl-3690	126	13	in	in	ADP
hassl-3690	126	14	indonesia	indonesia	PROPN
hassl-3690	126	15	is	be	AUX
hassl-3690	126	16	an	an	DET
hassl-3690	126	17	essential	essential	ADJ
hassl-3690	126	18	part	part	NOUN
hassl-3690	126	19	of	of	ADP
hassl-3690	126	20	the	the	DET
hassl-3690	126	21	control	control	NOUN
hassl-3690	126	22	system	system	NOUN
hassl-3690	126	23	that	that	PRON
hassl-3690	126	24	ensures	ensure	VERB
hassl-3690	126	25	problems	problem	NOUN
hassl-3690	126	26	resulting	result	VERB
hassl-3690	126	27	from	from	ADP
hassl-3690	126	28	the	the	DET
hassl-3690	126	29	principal	principal	ADJ
hassl-3690	126	30	-	-	PUNCT
hassl-3690	126	31	agent	agent	NOUN
hassl-3690	126	32	relationship	relationship	NOUN
hassl-3690	126	33	can	can	AUX
hassl-3690	126	34	be	be	AUX
hassl-3690	126	35	managed	manage	VERB
hassl-3690	126	36	.	.	PUNCT
hassl-3690	127	1	(	(	PUNCT
hassl-3690	127	2	fama	fama	PROPN
hassl-3690	127	3	&	&	CCONJ
hassl-3690	127	4	jensen	jensen	PROPN
hassl-3690	127	5	,	,	PUNCT
hassl-3690	127	6	1983	1983	NUM
hassl-3690	127	7	;	;	PUNCT
hassl-3690	127	8	puchetamartínez	puchetamartínez	PROPN
hassl-3690	127	9	&	&	CCONJ
hassl-3690	127	10	gallego	gallego	PROPN
hassl-3690	127	11	-	-	PUNCT
hassl-3690	127	12	álvarez	álvarez	NOUN
hassl-3690	127	13	,	,	PUNCT
hassl-3690	127	14	2020	2020	NUM
hassl-3690	127	15	)	)	PUNCT
hassl-3690	127	16	.	.	PUNCT
hassl-3690	128	1	meanwhile	meanwhile	ADV
hassl-3690	128	2	,	,	PUNCT
hassl-3690	128	3	resource	resource	NOUN
hassl-3690	128	4	dependency	dependency	NOUN
hassl-3690	128	5	theory	theory	NOUN
hassl-3690	128	6	states	state	VERB
hassl-3690	128	7	that	that	SCONJ
hassl-3690	128	8	the	the	DET
hassl-3690	128	9	board	board	NOUN
hassl-3690	128	10	of	of	ADP
hassl-3690	128	11	commissioners	commissioner	NOUN
hassl-3690	128	12	plays	play	VERB
hassl-3690	128	13	a	a	DET
hassl-3690	128	14	vital	vital	ADJ
hassl-3690	128	15	intermediary	intermediary	ADJ
hassl-3690	128	16	role	role	NOUN
hassl-3690	128	17	between	between	ADP
hassl-3690	128	18	the	the	DET
hassl-3690	128	19	business	business	NOUN
hassl-3690	128	20	and	and	CCONJ
hassl-3690	128	21	the	the	DET
hassl-3690	128	22	outside	outside	ADJ
hassl-3690	128	23	resources	resource	NOUN
hassl-3690	128	24	it	it	PRON
hassl-3690	128	25	needs	need	VERB
hassl-3690	128	26	to	to	PART
hassl-3690	128	27	operate	operate	VERB
hassl-3690	128	28	at	at	ADP
hassl-3690	128	29	its	its	PRON
hassl-3690	128	30	best	good	ADJ
hassl-3690	128	31	(	(	PUNCT
hassl-3690	128	32	pucheta	pucheta	NOUN
hassl-3690	128	33	-	-	PUNCT
hassl-3690	128	34	martínez	martínez	NOUN
hassl-3690	128	35	&	&	CCONJ
hassl-3690	128	36	gallego	gallego	PROPN
hassl-3690	128	37	-	-	PUNCT
hassl-3690	128	38	álvarez	álvarez	NOUN
hassl-3690	128	39	,	,	PUNCT
hassl-3690	128	40	2020	2020	NUM
hassl-3690	128	41	)	)	PUNCT
hassl-3690	128	42	.	.	PUNCT
hassl-3690	129	1	people	people	NOUN
hassl-3690	129	2	who	who	PRON
hassl-3690	129	3	serve	serve	VERB
hassl-3690	129	4	as	as	ADP
hassl-3690	129	5	non	non	ADJ
hassl-3690	129	6	-	-	ADJ
hassl-3690	129	7	executive	executive	ADJ
hassl-3690	129	8	directors	director	NOUN
hassl-3690	129	9	or	or	CCONJ
hassl-3690	129	10	board	board	NOUN
hassl-3690	129	11	commissioners	commissioner	NOUN
hassl-3690	129	12	on	on	ADP
hassl-3690	129	13	more	more	ADJ
hassl-3690	129	14	than	than	ADP
hassl-3690	129	15	one	one	NUM
hassl-3690	129	16	board	board	NOUN
hassl-3690	129	17	of	of	ADP
hassl-3690	129	18	another	another	DET
hassl-3690	129	19	corporation	corporation	NOUN
hassl-3690	129	20	are	be	AUX
hassl-3690	129	21	said	say	VERB
hassl-3690	129	22	to	to	PART
hassl-3690	129	23	have	have	VERB
hassl-3690	129	24	multiple	multiple	ADJ
hassl-3690	129	25	directorships	directorship	NOUN
hassl-3690	129	26	(	(	PUNCT
hassl-3690	129	27	chakravarty	chakravarty	NOUN
hassl-3690	129	28	&	&	CCONJ
hassl-3690	129	29	hegde	hegde	PROPN
hassl-3690	129	30	,	,	PUNCT
hassl-3690	129	31	2022	2022	NUM
hassl-3690	129	32	)	)	PUNCT
hassl-3690	129	33	.	.	PUNCT
hassl-3690	130	1	the	the	DET
hassl-3690	130	2	condition	condition	NOUN
hassl-3690	130	3	of	of	ADP
hassl-3690	130	4	multiple	multiple	ADJ
hassl-3690	130	5	directorships	directorship	NOUN
hassl-3690	130	6	is	be	AUX
hassl-3690	130	7	common	common	ADJ
hassl-3690	130	8	in	in	ADP
hassl-3690	130	9	indonesia	indonesia	PROPN
hassl-3690	130	10	and	and	CCONJ
hassl-3690	130	11	is	be	AUX
hassl-3690	130	12	legal	legal	ADJ
hassl-3690	130	13	due	due	ADJ
hassl-3690	130	14	to	to	ADP
hassl-3690	130	15	official	official	ADJ
hassl-3690	130	16	government	government	NOUN
hassl-3690	130	17	regulations	regulation	NOUN
hassl-3690	130	18	.	.	PUNCT
hassl-3690	131	1	fama	fama	PROPN
hassl-3690	131	2	and	and	CCONJ
hassl-3690	131	3	jensen	jensen	PROPN
hassl-3690	131	4	(	(	PUNCT
hassl-3690	131	5	1983	1983	NUM
hassl-3690	131	6	)	)	PUNCT
hassl-3690	131	7	stated	state	VERB
hassl-3690	131	8	that	that	SCONJ
hassl-3690	131	9	building	build	VERB
hassl-3690	131	10	a	a	DET
hassl-3690	131	11	reputation	reputation	NOUN
hassl-3690	131	12	as	as	ADP
hassl-3690	131	13	a	a	DET
hassl-3690	131	14	reliable	reliable	ADJ
hassl-3690	131	15	supervisor	supervisor	NOUN
hassl-3690	131	16	is	be	AUX
hassl-3690	131	17	crucially	crucially	ADV
hassl-3690	131	18	motivated	motivate	VERB
hassl-3690	131	19	by	by	ADP
hassl-3690	131	20	the	the	DET
hassl-3690	131	21	market	market	NOUN
hassl-3690	131	22	for	for	ADP
hassl-3690	131	23	outside	outside	ADJ
hassl-3690	131	24	directors	director	NOUN
hassl-3690	131	25	.	.	PUNCT
hassl-3690	132	1	according	accord	VERB
hassl-3690	132	2	to	to	ADP
hassl-3690	132	3	resource	resource	NOUN
hassl-3690	132	4	dependency	dependency	NOUN
hassl-3690	132	5	theory	theory	NOUN
hassl-3690	132	6	,	,	PUNCT
hassl-3690	132	7	the	the	DET
hassl-3690	132	8	board	board	NOUN
hassl-3690	132	9	of	of	ADP
hassl-3690	132	10	commissioners	commissioner	NOUN
hassl-3690	132	11	acts	act	VERB
hassl-3690	132	12	as	as	ADP
hassl-3690	132	13	a	a	DET
hassl-3690	132	14	crucial	crucial	ADJ
hassl-3690	132	15	middleman	middleman	NOUN
hassl-3690	132	16	between	between	ADP
hassl-3690	132	17	the	the	DET
hassl-3690	132	18	company	company	NOUN
hassl-3690	132	19	and	and	CCONJ
hassl-3690	132	20	the	the	DET
hassl-3690	132	21	outside	outside	ADJ
hassl-3690	132	22	resources	resource	NOUN
hassl-3690	132	23	it	it	PRON
hassl-3690	132	24	needs	need	VERB
hassl-3690	132	25	to	to	PART
hassl-3690	132	26	run	run	VERB
hassl-3690	132	27	efficiently	efficiently	ADV
hassl-3690	132	28	(	(	PUNCT
hassl-3690	132	29	field	field	NOUN
hassl-3690	132	30	,	,	PUNCT
hassl-3690	132	31	lowry	lowry	PROPN
hassl-3690	132	32	,	,	PUNCT
hassl-3690	132	33	&	&	CCONJ
hassl-3690	132	34	mkrtchyan	mkrtchyan	ADJ
hassl-3690	132	35	,	,	PUNCT
hassl-3690	132	36	2013	2013	NUM
hassl-3690	132	37	)	)	PUNCT
hassl-3690	132	38	.	.	PUNCT
hassl-3690	133	1	in	in	ADP
hassl-3690	133	2	addition	addition	NOUN
hassl-3690	133	3	,	,	PUNCT
hassl-3690	133	4	their	their	PRON
hassl-3690	133	5	reputational	reputational	ADJ
hassl-3690	133	6	incentives	incentive	NOUN
hassl-3690	133	7	in	in	ADP
hassl-3690	133	8	the	the	DET
hassl-3690	133	9	labor	labor	NOUN
hassl-3690	133	10	market	market	NOUN
hassl-3690	133	11	also	also	ADV
hassl-3690	133	12	inspire	inspire	VERB
hassl-3690	133	13	them	they	PRON
hassl-3690	133	14	to	to	PART
hassl-3690	133	15	become	become	VERB
hassl-3690	133	16	conscientious	conscientious	ADJ
hassl-3690	133	17	supervisors	supervisor	NOUN
hassl-3690	133	18	(	(	PUNCT
hassl-3690	133	19	fama	fama	PROPN
hassl-3690	133	20	&	&	CCONJ
hassl-3690	133	21	jensen	jensen	PROPN
hassl-3690	133	22	,	,	PUNCT
hassl-3690	133	23	1983	1983	NUM
hassl-3690	133	24	;	;	PUNCT
hassl-3690	133	25	masulis	masulis	PROPN
hassl-3690	133	26	&	&	CCONJ
hassl-3690	133	27	mobbs	mobb	NOUN
hassl-3690	133	28	,	,	PUNCT
hassl-3690	133	29	2011	2011	NUM
hassl-3690	133	30	)	)	PUNCT
hassl-3690	133	31	.	.	PUNCT
hassl-3690	134	1	according	accord	VERB
hassl-3690	134	2	to	to	ADP
hassl-3690	134	3	mbanyele	mbanyele	PROPN
hassl-3690	134	4	(	(	PUNCT
hassl-3690	134	5	2020	2020	NUM
hassl-3690	134	6	)	)	PUNCT
hassl-3690	134	7	,	,	PUNCT
hassl-3690	134	8	directors	director	NOUN
hassl-3690	134	9	with	with	ADP
hassl-3690	134	10	concurrent	concurrent	ADJ
hassl-3690	134	11	responsibilities	responsibility	NOUN
hassl-3690	134	12	have	have	VERB
hassl-3690	134	13	a	a	DET
hassl-3690	134	14	critical	critical	ADJ
hassl-3690	134	15	role	role	NOUN
hassl-3690	134	16	in	in	ADP
hassl-3690	134	17	enhancing	enhance	VERB
hassl-3690	134	18	complicated	complicated	ADJ
hassl-3690	134	19	firms	firm	NOUN
hassl-3690	134	20	'	'	PART
hassl-3690	134	21	performance	performance	NOUN
hassl-3690	134	22	,	,	PUNCT
hassl-3690	134	23	particularly	particularly	ADV
hassl-3690	134	24	in	in	ADP
hassl-3690	134	25	underdeveloped	underdeveloped	ADJ
hassl-3690	134	26	institutional	institutional	ADJ
hassl-3690	134	27	contexts	contexts	NOUN
hassl-3690	134	28	.	.	PUNCT
hassl-3690	135	1	therefore	therefore	ADV
hassl-3690	135	2	,	,	PUNCT
hassl-3690	135	3	organisations	organisation	NOUN
hassl-3690	135	4	select	select	VERB
hassl-3690	135	5	their	their	PRON
hassl-3690	135	6	directors	director	NOUN
hassl-3690	135	7	based	base	VERB
hassl-3690	135	8	on	on	ADP
hassl-3690	135	9	their	their	PRON
hassl-3690	135	10	stature	stature	NOUN
hassl-3690	135	11	,	,	PUNCT
hassl-3690	135	12	qualifications	qualification	NOUN
hassl-3690	135	13	and	and	CCONJ
hassl-3690	135	14	work	work	NOUN
hassl-3690	135	15	history	history	NOUN
hassl-3690	135	16	in	in	ADP
hassl-3690	135	17	the	the	DET
hassl-3690	135	18	industry	industry	NOUN
hassl-3690	135	19	in	in	ADP
hassl-3690	135	20	order	order	NOUN
hassl-3690	135	21	to	to	PART
hassl-3690	135	22	benefit	benefit	VERB
hassl-3690	135	23	from	from	ADP
hassl-3690	135	24	the	the	DET
hassl-3690	135	25	reputational	reputational	ADJ
hassl-3690	135	26	advantages	advantage	NOUN
hassl-3690	135	27	of	of	ADP
hassl-3690	135	28	having	have	VERB
hassl-3690	135	29	numerous	numerous	ADJ
hassl-3690	135	30	designated	designate	VERB
hassl-3690	135	31	direct	direct	ADJ
hassl-3690	135	32	principals	principal	NOUN
hassl-3690	135	33	falato	falato	NOUN
hassl-3690	135	34	,	,	PUNCT
hassl-3690	135	35	kadyrzhanova	kadyrzhanova	PROPN
hassl-3690	135	36	,	,	PUNCT
hassl-3690	135	37	and	and	CCONJ
hassl-3690	135	38	lel	lel	PROPN
hassl-3690	135	39	(	(	PUNCT
hassl-3690	135	40	2014	2014	NUM
hassl-3690	135	41	)	)	PUNCT
hassl-3690	135	42	.	.	PUNCT
hassl-3690	136	1	thus	thus	ADV
hassl-3690	136	2	,	,	PUNCT
hassl-3690	136	3	directors	director	NOUN
hassl-3690	136	4	who	who	PRON
hassl-3690	136	5	are	be	AUX
hassl-3690	136	6	busy	busy	ADJ
hassl-3690	136	7	can	can	AUX
hassl-3690	136	8	become	become	VERB
hassl-3690	136	9	good	good	ADJ
hassl-3690	136	10	monitors	monitor	NOUN
hassl-3690	136	11	through	through	ADP
hassl-3690	136	12	experience	experience	NOUN
hassl-3690	136	13	and	and	CCONJ
hassl-3690	136	14	reputational	reputational	ADJ
hassl-3690	136	15	incentives	incentive	NOUN
hassl-3690	136	16	.	.	PUNCT
hassl-3690	137	1	h2	h2	NOUN
hassl-3690	137	2	:	:	PUNCT
hassl-3690	137	3	multiple	multiple	ADJ
hassl-3690	137	4	directorships	directorship	NOUN
hassl-3690	137	5	have	have	VERB
hassl-3690	137	6	a	a	DET
hassl-3690	137	7	negative	negative	ADJ
hassl-3690	137	8	effect	effect	NOUN
hassl-3690	137	9	on	on	ADP
hassl-3690	137	10	idiosyncratic	idiosyncratic	ADJ
hassl-3690	137	11	risk	risk	NOUN
hassl-3690	137	12	.	.	PUNCT
hassl-3690	138	1	2.4	2.4	NUM
hassl-3690	138	2	.	.	PUNCT
hassl-3690	139	1	large	large	ADJ
hassl-3690	139	2	shareholders	shareholder	NOUN
hassl-3690	139	3	,	,	PUNCT
hassl-3690	139	4	multiple	multiple	ADJ
hassl-3690	139	5	directorships	directorship	NOUN
hassl-3690	139	6	and	and	CCONJ
hassl-3690	139	7	idiosyncratic	idiosyncratic	ADJ
hassl-3690	139	8	risk	risk	NOUN
hassl-3690	139	9	claessens	claessen	VERB
hassl-3690	139	10	et	et	PROPN
hassl-3690	139	11	al	al	PROPN
hassl-3690	139	12	.	.	PUNCT
hassl-3690	140	1	(	(	PUNCT
hassl-3690	140	2	2000	2000	NUM
hassl-3690	140	3	)	)	PUNCT
hassl-3690	140	4	stated	state	VERB
hassl-3690	140	5	that	that	SCONJ
hassl-3690	140	6	there	there	PRON
hassl-3690	140	7	is	be	VERB
hassl-3690	140	8	a	a	DET
hassl-3690	140	9	separation	separation	NOUN
hassl-3690	140	10	between	between	ADP
hassl-3690	140	11	company	company	NOUN
hassl-3690	140	12	owners	owner	NOUN
hassl-3690	140	13	and	and	CCONJ
hassl-3690	140	14	managers	manager	NOUN
hassl-3690	140	15	in	in	ADP
hassl-3690	140	16	several	several	ADJ
hassl-3690	140	17	asian	asian	ADJ
hassl-3690	140	18	countries	country	NOUN
hassl-3690	140	19	.	.	PUNCT
hassl-3690	141	1	it	it	PRON
hassl-3690	141	2	was	be	AUX
hassl-3690	141	3	found	find	VERB
hassl-3690	141	4	that	that	SCONJ
hassl-3690	141	5	indonesia	indonesia	PROPN
hassl-3690	141	6	is	be	AUX
hassl-3690	141	7	characterized	characterize	VERB
hassl-3690	141	8	by	by	ADP
hassl-3690	141	9	highly	highly	ADV
hassl-3690	141	10	concentrated	concentrate	VERB
hassl-3690	141	11	ownership	ownership	NOUN
hassl-3690	141	12	.	.	PUNCT
hassl-3690	142	1	the	the	DET
hassl-3690	142	2	agency	agency	NOUN
hassl-3690	142	3	problem	problem	NOUN
hassl-3690	142	4	concept	concept	NOUN
hassl-3690	142	5	explains	explain	VERB
hassl-3690	142	6	the	the	DET
hassl-3690	142	7	relationship	relationship	NOUN
hassl-3690	142	8	between	between	ADP
hassl-3690	142	9	idiosyncratic	idiosyncratic	ADJ
hassl-3690	142	10	risk	risk	NOUN
hassl-3690	142	11	and	and	CCONJ
hassl-3690	142	12	large	large	ADJ
hassl-3690	142	13	shareholders	shareholder	NOUN
hassl-3690	142	14	.	.	PUNCT
hassl-3690	143	1	according	accord	VERB
hassl-3690	143	2	to	to	ADP
hassl-3690	143	3	an	an	DET
hassl-3690	143	4	agency	agency	NOUN
hassl-3690	143	5	problem	problem	NOUN
hassl-3690	143	6	type	type	PROPN
hassl-3690	143	7	ii	ii	PROPN
hassl-3690	143	8	,	,	PUNCT
hassl-3690	143	9	conflicts	conflict	NOUN
hassl-3690	143	10	occur	occur	VERB
hassl-3690	143	11	between	between	ADP
hassl-3690	143	12	majority	majority	NOUN
hassl-3690	143	13	shareholders	shareholder	NOUN
hassl-3690	143	14	and	and	CCONJ
hassl-3690	143	15	minority	minority	NOUN
hassl-3690	143	16	shareholders	shareholder	NOUN
hassl-3690	143	17	(	(	PUNCT
hassl-3690	143	18	jensen	jensen	PROPN
hassl-3690	143	19	&	&	CCONJ
hassl-3690	143	20	meckling	meckling	PROPN
hassl-3690	143	21	,	,	PUNCT
hassl-3690	143	22	1976	1976	NUM
hassl-3690	143	23	)	)	PUNCT
hassl-3690	143	24	.	.	PUNCT
hassl-3690	144	1	the	the	DET
hassl-3690	144	2	majority	majority	NOUN
hassl-3690	144	3	of	of	ADP
hassl-3690	144	4	shareholders	shareholder	NOUN
hassl-3690	144	5	are	be	AUX
hassl-3690	144	6	categorized	categorize	VERB
hassl-3690	144	7	as	as	ADP
hassl-3690	144	8	large	large	ADJ
hassl-3690	144	9	shareholders	shareholder	NOUN
hassl-3690	144	10	.	.	PUNCT
hassl-3690	145	1	the	the	DET
hassl-3690	145	2	existence	existence	NOUN
hassl-3690	145	3	of	of	ADP
hassl-3690	145	4	large	large	ADJ
hassl-3690	145	5	shareholders	shareholder	NOUN
hassl-3690	145	6	who	who	PRON
hassl-3690	145	7	function	function	VERB
hassl-3690	145	8	as	as	ADP
hassl-3690	145	9	monitors	monitor	NOUN
hassl-3690	145	10	is	be	AUX
hassl-3690	145	11	expected	expect	VERB
hassl-3690	145	12	to	to	PART
hassl-3690	145	13	minimize	minimize	VERB
hassl-3690	145	14	the	the	DET
hassl-3690	145	15	occurrence	occurrence	NOUN
hassl-3690	145	16	of	of	ADP
hassl-3690	145	17	idiosyncratic	idiosyncratic	ADJ
hassl-3690	145	18	risk	risk	NOUN
hassl-3690	145	19	in	in	ADP
hassl-3690	145	20	the	the	DET
hassl-3690	145	21	company	company	NOUN
hassl-3690	145	22	.	.	PUNCT
hassl-3690	146	1	jensen	jensen	PROPN
hassl-3690	146	2	and	and	CCONJ
hassl-3690	146	3	meckling	meckling	NOUN
hassl-3690	146	4	(	(	PUNCT
hassl-3690	146	5	1976	1976	NUM
hassl-3690	146	6	)	)	PUNCT
hassl-3690	146	7	state	state	NOUN
hassl-3690	146	8	that	that	SCONJ
hassl-3690	146	9	supervision	supervision	NOUN
hassl-3690	146	10	will	will	AUX
hassl-3690	146	11	be	be	AUX
hassl-3690	146	12	more	more	ADV
hassl-3690	146	13	intense	intense	ADJ
hassl-3690	146	14	with	with	ADP
hassl-3690	146	15	the	the	DET
hassl-3690	146	16	largest	large	ADJ
hassl-3690	146	17	shareholder	shareholder	NOUN
hassl-3690	146	18	as	as	ADP
hassl-3690	146	19	the	the	DET
hassl-3690	146	20	controlling	control	VERB
hassl-3690	146	21	shareholder	shareholder	NOUN
hassl-3690	146	22	.	.	PUNCT
hassl-3690	147	1	attig	attig	PROPN
hassl-3690	147	2	et	et	PROPN
hassl-3690	147	3	al	al	PROPN
hassl-3690	147	4	.	.	PROPN
hassl-3690	148	1	(	(	PUNCT
hassl-3690	148	2	2009	2009	NUM
hassl-3690	148	3	)	)	PUNCT
hassl-3690	148	4	support	support	VERB
hassl-3690	148	5	the	the	DET
hassl-3690	148	6	idea	idea	NOUN
hassl-3690	148	7	that	that	SCONJ
hassl-3690	148	8	large	large	ADJ
hassl-3690	148	9	shareholders	shareholder	NOUN
hassl-3690	148	10	in	in	ADP
hassl-3690	148	11	a	a	DET
hassl-3690	148	12	company	company	NOUN
hassl-3690	148	13	can	can	AUX
hassl-3690	148	14	minimize	minimize	VERB
hassl-3690	148	15	risks	risk	NOUN
hassl-3690	148	16	because	because	SCONJ
hassl-3690	148	17	they	they	PRON
hassl-3690	148	18	carry	carry	VERB
hassl-3690	148	19	out	out	ADP
hassl-3690	148	20	monitoring	monitoring	NOUN
hassl-3690	148	21	which	which	PRON
hassl-3690	148	22	can	can	AUX
hassl-3690	148	23	improve	improve	VERB
hassl-3690	148	24	corporate	corporate	ADJ
hassl-3690	148	25	governance	governance	NOUN
hassl-3690	148	26	.	.	PUNCT
hassl-3690	149	1	therefore	therefore	ADV
hassl-3690	149	2	,	,	PUNCT
hassl-3690	149	3	it	it	PRON
hassl-3690	149	4	is	be	AUX
hassl-3690	149	5	anticipated	anticipate	VERB
hassl-3690	149	6	that	that	SCONJ
hassl-3690	149	7	the	the	DET
hassl-3690	149	8	relationship	relationship	NOUN
hassl-3690	149	9	between	between	ADP
hassl-3690	149	10	multiple	multiple	ADJ
hassl-3690	149	11	directorships	directorship	NOUN
hassl-3690	149	12	and	and	CCONJ
hassl-3690	149	13	major	major	ADJ
hassl-3690	149	14	shareholders	shareholder	NOUN
hassl-3690	149	15	will	will	AUX
hassl-3690	149	16	lessen	lessen	VERB
hassl-3690	149	17	idiosyncratic	idiosyncratic	ADJ
hassl-3690	149	18	risk	risk	NOUN
hassl-3690	149	19	.	.	PUNCT
hassl-3690	150	1	multiple	multiple	ADJ
hassl-3690	150	2	directorships	directorship	NOUN
hassl-3690	150	3	are	be	AUX
hassl-3690	150	4	based	base	VERB
hassl-3690	150	5	on	on	ADP
hassl-3690	150	6	the	the	DET
hassl-3690	150	7	reputational	reputational	ADJ
hassl-3690	150	8	hypothesis	hypothesis	NOUN
hassl-3690	150	9	where	where	SCONJ
hassl-3690	150	10	a	a	DET
hassl-3690	150	11	good	good	ADJ
hassl-3690	150	12	reputation	reputation	NOUN
hassl-3690	150	13	can	can	AUX
hassl-3690	150	14	minimize	minimize	VERB
hassl-3690	150	15	the	the	DET
hassl-3690	150	16	risks	risk	NOUN
hassl-3690	150	17	due	due	ADP
hassl-3690	150	18	to	to	ADP
hassl-3690	150	19	the	the	DET
hassl-3690	150	20	directors	director	NOUN
hassl-3690	150	21	'	'	PART
hassl-3690	150	22	experience	experience	NOUN
hassl-3690	150	23	and	and	CCONJ
hassl-3690	150	24	reputation	reputation	NOUN
hassl-3690	150	25	(	(	PUNCT
hassl-3690	150	26	fama	fama	PROPN
hassl-3690	150	27	&	&	CCONJ
hassl-3690	150	28	jensen	jensen	PROPN
hassl-3690	150	29	,	,	PUNCT
hassl-3690	150	30	1983	1983	NUM
hassl-3690	150	31	)	)	PUNCT
hassl-3690	150	32	.	.	PUNCT
hassl-3690	151	1	similar	similar	ADJ
hassl-3690	151	2	claims	claim	NOUN
hassl-3690	151	3	were	be	AUX
hassl-3690	151	4	also	also	ADV
hassl-3690	151	5	made	make	VERB
hassl-3690	151	6	by	by	ADP
hassl-3690	151	7	elyasiani	elyasiani	NOUN
hassl-3690	151	8	and	and	CCONJ
hassl-3690	151	9	zhang	zhang	PROPN
hassl-3690	151	10	(	(	PUNCT
hassl-3690	151	11	2015	2015	NUM
hassl-3690	151	12	)	)	PUNCT
hassl-3690	151	13	who	who	PRON
hassl-3690	151	14	stated	state	VERB
hassl-3690	151	15	that	that	SCONJ
hassl-3690	151	16	organisations	organisation	NOUN
hassl-3690	151	17	with	with	ADP
hassl-3690	151	18	a	a	DET
hassl-3690	151	19	large	large	ADJ
hassl-3690	151	20	number	number	NOUN
hassl-3690	151	21	of	of	ADP
hassl-3690	151	22	director	director	NOUN
hassl-3690	151	23	positions	position	NOUN
hassl-3690	151	24	have	have	VERB
hassl-3690	151	25	a	a	DET
hassl-3690	151	26	lower	low	ADJ
hassl-3690	151	27	overall	overall	ADJ
hassl-3690	151	28	risk	risk	NOUN
hassl-3690	151	29	because	because	SCONJ
hassl-3690	151	30	of	of	ADP
hassl-3690	151	31	the	the	DET
hassl-3690	151	32	experience	experience	NOUN
hassl-3690	151	33	,	,	PUNCT
hassl-3690	151	34	expertise	expertise	NOUN
hassl-3690	151	35	,	,	PUNCT
hassl-3690	151	36	and	and	CCONJ
hassl-3690	151	37	reputation	reputation	NOUN
hassl-3690	151	38	that	that	PRON
hassl-3690	151	39	come	come	VERB
hassl-3690	151	40	with	with	ADP
hassl-3690	151	41	holding	hold	VERB
hassl-3690	151	42	numerous	numerous	ADJ
hassl-3690	151	43	positions	position	NOUN
hassl-3690	151	44	.	.	PUNCT
hassl-3690	152	1	these	these	DET
hassl-3690	152	2	factors	factor	NOUN
hassl-3690	152	3	can	can	AUX
hassl-3690	152	4	help	help	VERB
hassl-3690	152	5	a	a	DET
hassl-3690	152	6	large	large	ADJ
hassl-3690	152	7	number	number	NOUN
hassl-3690	152	8	of	of	ADP
hassl-3690	152	9	director	director	NOUN
hassl-3690	152	10	positions	position	NOUN
hassl-3690	152	11	advise	advise	VERB
hassl-3690	152	12	and	and	CCONJ
hassl-3690	152	13	monitor	monitor	VERB
hassl-3690	152	14	management	management	NOUN
hassl-3690	152	15	more	more	ADV
hassl-3690	152	16	effectively	effectively	ADV
hassl-3690	152	17	thereby	thereby	ADV
hassl-3690	152	18	reducing	reduce	VERB
hassl-3690	152	19	idiosyncratic	idiosyncratic	ADJ
hassl-3690	152	20	risk	risk	NOUN
hassl-3690	152	21	.	.	PUNCT
hassl-3690	153	1	raithatha	raithatha	NOUN
hassl-3690	153	2	and	and	CCONJ
hassl-3690	153	3	ladkani	ladkani	PROPN
hassl-3690	153	4	(	(	PUNCT
hassl-3690	153	5	2023	2023	NUM
hassl-3690	153	6	)	)	PUNCT
hassl-3690	153	7	also	also	ADV
hassl-3690	153	8	stated	state	VERB
hassl-3690	153	9	that	that	SCONJ
hassl-3690	153	10	there	there	PRON
hassl-3690	153	11	is	be	VERB
hassl-3690	153	12	a	a	DET
hassl-3690	153	13	tendency	tendency	NOUN
hassl-3690	153	14	to	to	PART
hassl-3690	153	15	benefit	benefit	VERB
hassl-3690	153	16	from	from	ADP
hassl-3690	153	17	having	have	VERB
hassl-3690	153	18	directors	director	NOUN
hassl-3690	153	19	with	with	ADP
hassl-3690	153	20	various	various	ADJ
hassl-3690	153	21	board	board	NOUN
hassl-3690	153	22	positions	position	NOUN
hassl-3690	153	23	because	because	SCONJ
hassl-3690	153	24	they	they	PRON
hassl-3690	153	25	will	will	AUX
hassl-3690	153	26	provide	provide	VERB
hassl-3690	153	27	much	much	ADJ
hassl-3690	153	28	needed	need	VERB
hassl-3690	153	29	expertise	expertise	NOUN
hassl-3690	153	30	.	.	PUNCT
hassl-3690	154	1	researching	research	VERB
hassl-3690	154	2	directors	director	NOUN
hassl-3690	154	3	with	with	ADP
hassl-3690	154	4	a	a	DET
hassl-3690	154	5	range	range	NOUN
hassl-3690	154	6	of	of	ADP
hassl-3690	154	7	board	board	NOUN
hassl-3690	154	8	roles	role	NOUN
hassl-3690	154	9	tends	tend	VERB
hassl-3690	154	10	to	to	PART
hassl-3690	154	11	be	be	AUX
hassl-3690	154	12	advantageous	advantageous	ADJ
hassl-3690	154	13	since	since	SCONJ
hassl-3690	154	14	they	they	PRON
hassl-3690	154	15	will	will	AUX
hassl-3690	154	16	offer	offer	VERB
hassl-3690	154	17	much	much	ADV
hassl-3690	154	18	-	-	PUNCT
hassl-3690	154	19	needed	need	VERB
hassl-3690	154	20	resources	resource	NOUN
hassl-3690	154	21	,	,	PUNCT
hassl-3690	154	22	networks	network	NOUN
hassl-3690	154	23	,	,	PUNCT
hassl-3690	154	24	and	and	CCONJ
hassl-3690	154	25	knowledge	knowledge	NOUN
hassl-3690	154	26	.	.	PUNCT
hassl-3690	155	1	these	these	DET
hassl-3690	155	2	benefits	benefit	NOUN
hassl-3690	155	3	can	can	AUX
hassl-3690	155	4	reduce	reduce	VERB
hassl-3690	155	5	the	the	DET
hassl-3690	155	6	likelihood	likelihood	NOUN
hassl-3690	155	7	of	of	ADP
hassl-3690	155	8	idiosyncratic	idiosyncratic	ADJ
hassl-3690	155	9	risks	risk	NOUN
hassl-3690	155	10	and	and	CCONJ
hassl-3690	155	11	networks	network	NOUN
hassl-3690	155	12	and	and	CCONJ
hassl-3690	155	13	these	these	DET
hassl-3690	155	14	advantages	advantage	NOUN
hassl-3690	155	15	can	can	AUX
hassl-3690	155	16	minimize	minimize	VERB
hassl-3690	155	17	the	the	DET
hassl-3690	155	18	occurrence	occurrence	NOUN
hassl-3690	155	19	of	of	ADP
hassl-3690	155	20	idiosyncratic	idiosyncratic	ADJ
hassl-3690	155	21	risk	risk	NOUN
hassl-3690	155	22	.	.	PUNCT
hassl-3690	156	1	h3	h3	NOUN
hassl-3690	156	2	:	:	PUNCT
hassl-3690	156	3	large	large	ADJ
hassl-3690	156	4	shareholders	shareholder	NOUN
hassl-3690	156	5	strengthen	strengthen	VERB
hassl-3690	156	6	the	the	DET
hassl-3690	156	7	influence	influence	NOUN
hassl-3690	156	8	of	of	ADP
hassl-3690	156	9	multiple	multiple	ADJ
hassl-3690	156	10	directorships	directorship	NOUN
hassl-3690	156	11	in	in	ADP
hassl-3690	156	12	reducing	reduce	VERB
hassl-3690	156	13	idiosyncratic	idiosyncratic	ADJ
hassl-3690	156	14	risk	risk	NOUN
hassl-3690	156	15	.	.	PUNCT
hassl-3690	157	1	humanities	humanity	NOUN
hassl-3690	157	2	and	and	CCONJ
hassl-3690	157	3	social	social	ADJ
hassl-3690	157	4	sciences	science	NOUN
hassl-3690	157	5	letters	letter	NOUN
hassl-3690	157	6	,	,	PUNCT
hassl-3690	157	7	2024	2024	NUM
hassl-3690	157	8	,	,	PUNCT
hassl-3690	157	9	12(2	12(2	NUM
hassl-3690	157	10	):	):	PUNCT
hassl-3690	157	11	218	218	NUM
hassl-3690	157	12	-	-	SYM
hassl-3690	157	13	232	232	NUM
hassl-3690	157	14	223	223	NUM
hassl-3690	157	15	©	©	ADP
hassl-3690	157	16	2024	2024	NUM
hassl-3690	157	17	conscientia	conscientia	PROPN
hassl-3690	157	18	beam	beam	PROPN
hassl-3690	157	19	.	.	PUNCT
hassl-3690	158	1	all	all	DET
hassl-3690	158	2	rights	right	NOUN
hassl-3690	158	3	reserved	reserve	VERB
hassl-3690	158	4	.	.	PUNCT
hassl-3690	159	1	3	3	X
hassl-3690	159	2	.	.	X
hassl-3690	159	3	research	research	NOUN
hassl-3690	159	4	methods	method	NOUN
hassl-3690	159	5	3.1	3.1	NUM
hassl-3690	159	6	.	.	PUNCT
hassl-3690	160	1	research	research	NOUN
hassl-3690	160	2	sample	sample	PROPN
hassl-3690	160	3	indonesian	indonesian	ADJ
hassl-3690	160	4	companies	company	NOUN
hassl-3690	160	5	listed	list	VERB
hassl-3690	160	6	on	on	ADP
hassl-3690	160	7	the	the	DET
hassl-3690	160	8	indonesian	indonesian	ADJ
hassl-3690	160	9	stock	stock	PROPN
hassl-3690	160	10	exchange	exchange	NOUN
hassl-3690	160	11	between	between	ADP
hassl-3690	160	12	2017	2017	NUM
hassl-3690	160	13	and	and	CCONJ
hassl-3690	160	14	2021	2021	NUM
hassl-3690	160	15	comprise	comprise	VERB
hassl-3690	160	16	the	the	DET
hassl-3690	160	17	study	study	NOUN
hassl-3690	160	18	's	's	PART
hassl-3690	160	19	sample	sample	NOUN
hassl-3690	160	20	with	with	ADP
hassl-3690	160	21	1,510	1,510	NUM
hassl-3690	160	22	observations	observation	NOUN
hassl-3690	160	23	from	from	ADP
hassl-3690	160	24	302	302	NUM
hassl-3690	160	25	companies	company	NOUN
hassl-3690	160	26	.	.	PUNCT
hassl-3690	161	1	companies	company	NOUN
hassl-3690	161	2	that	that	PRON
hassl-3690	161	3	fall	fall	VERB
hassl-3690	161	4	into	into	ADP
hassl-3690	161	5	the	the	DET
hassl-3690	161	6	category	category	NOUN
hassl-3690	161	7	of	of	ADP
hassl-3690	161	8	the	the	DET
hassl-3690	161	9	financial	financial	ADJ
hassl-3690	161	10	sector	sector	NOUN
hassl-3690	161	11	are	be	AUX
hassl-3690	161	12	excluded	exclude	VERB
hassl-3690	161	13	.	.	PUNCT
hassl-3690	162	1	3.2	3.2	NUM
hassl-3690	162	2	.	.	PUNCT
hassl-3690	163	1	variable	variable	ADJ
hassl-3690	163	2	measurement	measurement	NOUN
hassl-3690	163	3	idiosyncratic	idiosyncratic	ADJ
hassl-3690	163	4	risk	risk	NOUN
hassl-3690	163	5	and	and	CCONJ
hassl-3690	163	6	risk	risk	NOUN
hassl-3690	163	7	uncertainty	uncertainty	NOUN
hassl-3690	163	8	are	be	AUX
hassl-3690	163	9	associated	associate	VERB
hassl-3690	163	10	with	with	ADP
hassl-3690	163	11	volatility	volatility	NOUN
hassl-3690	163	12	.	.	PUNCT
hassl-3690	164	1	in	in	ADP
hassl-3690	164	2	general	general	ADJ
hassl-3690	164	3	,	,	PUNCT
hassl-3690	164	4	volatility	volatility	NOUN
hassl-3690	164	5	is	be	AUX
hassl-3690	164	6	synonymous	synonymous	ADJ
hassl-3690	164	7	with	with	ADP
hassl-3690	164	8	risk	risk	NOUN
hassl-3690	164	9	as	as	ADP
hassl-3690	164	10	a	a	DET
hassl-3690	164	11	symptom	symptom	NOUN
hassl-3690	164	12	of	of	ADP
hassl-3690	164	13	market	market	NOUN
hassl-3690	164	14	disturbances	disturbance	NOUN
hassl-3690	164	15	where	where	SCONJ
hassl-3690	164	16	prices	price	NOUN
hassl-3690	164	17	are	be	AUX
hassl-3690	164	18	unreasonable	unreasonable	ADJ
hassl-3690	164	19	and	and	CCONJ
hassl-3690	164	20	the	the	DET
hassl-3690	164	21	capital	capital	NOUN
hassl-3690	164	22	market	market	NOUN
hassl-3690	164	23	does	do	AUX
hassl-3690	164	24	not	not	PART
hassl-3690	164	25	function	function	VERB
hassl-3690	164	26	properly	properly	ADV
hassl-3690	164	27	.	.	PUNCT
hassl-3690	165	1	traditionally	traditionally	ADV
hassl-3690	165	2	,	,	PUNCT
hassl-3690	165	3	volatility	volatility	NOUN
hassl-3690	165	4	is	be	AUX
hassl-3690	165	5	seen	see	VERB
hassl-3690	165	6	as	as	ADP
hassl-3690	165	7	synonymous	synonymous	ADJ
hassl-3690	165	8	with	with	ADP
hassl-3690	165	9	variance	variance	NOUN
hassl-3690	165	10	risk	risk	NOUN
hassl-3690	165	11	.	.	PUNCT
hassl-3690	166	1	according	accord	VERB
hassl-3690	166	2	to	to	ADP
hassl-3690	166	3	schwert	schwert	PROPN
hassl-3690	166	4	(	(	PUNCT
hassl-3690	166	5	1991	1991	NUM
hassl-3690	166	6	)	)	PUNCT
hassl-3690	166	7	,	,	PUNCT
hassl-3690	166	8	there	there	PRON
hassl-3690	166	9	is	be	VERB
hassl-3690	166	10	an	an	DET
hassl-3690	166	11	increase	increase	NOUN
hassl-3690	166	12	in	in	ADP
hassl-3690	166	13	stock	stock	NOUN
hassl-3690	166	14	market	market	NOUN
hassl-3690	166	15	volatility	volatility	NOUN
hassl-3690	166	16	in	in	ADP
hassl-3690	166	17	the	the	DET
hassl-3690	166	18	capital	capital	NOUN
hassl-3690	166	19	market	market	NOUN
hassl-3690	166	20	as	as	SCONJ
hassl-3690	166	21	shown	show	VERB
hassl-3690	166	22	by	by	ADP
hassl-3690	166	23	the	the	DET
hassl-3690	166	24	percentage	percentage	NOUN
hassl-3690	166	25	change	change	NOUN
hassl-3690	166	26	in	in	ADP
hassl-3690	166	27	price	price	NOUN
hassl-3690	166	28	or	or	CCONJ
hassl-3690	166	29	the	the	DET
hassl-3690	166	30	rate	rate	NOUN
hassl-3690	166	31	of	of	ADP
hassl-3690	166	32	return	return	NOUN
hassl-3690	166	33	.	.	PUNCT
hassl-3690	167	1	this	this	PRON
hassl-3690	167	2	will	will	AUX
hassl-3690	167	3	lead	lead	VERB
hassl-3690	167	4	to	to	ADP
hassl-3690	167	5	more	more	ADJ
hassl-3690	167	6	opportunities	opportunity	NOUN
hassl-3690	167	7	for	for	ADP
hassl-3690	167	8	share	share	NOUN
hassl-3690	167	9	price	price	NOUN
hassl-3690	167	10	fluctuations	fluctuation	NOUN
hassl-3690	167	11	.	.	PUNCT
hassl-3690	168	1	therefore	therefore	ADV
hassl-3690	168	2	,	,	PUNCT
hassl-3690	168	3	the	the	DET
hassl-3690	168	4	overall	overall	ADJ
hassl-3690	168	5	risk	risk	NOUN
hassl-3690	168	6	is	be	AUX
hassl-3690	168	7	annualized	annualize	VERB
hassl-3690	168	8	as	as	ADP
hassl-3690	168	9	a	a	DET
hassl-3690	168	10	standard	standard	ADJ
hassl-3690	168	11	deviation	deviation	NOUN
hassl-3690	168	12	of	of	ADP
hassl-3690	168	13	stock	stock	NOUN
hassl-3690	168	14	returns	return	NOUN
hassl-3690	168	15	.	.	PUNCT
hassl-3690	169	1	regression	regression	NOUN
hassl-3690	169	2	analysis	analysis	NOUN
hassl-3690	169	3	was	be	AUX
hassl-3690	169	4	performed	perform	VERB
hassl-3690	169	5	for	for	ADP
hassl-3690	169	6	each	each	DET
hassl-3690	169	7	company	company	NOUN
hassl-3690	169	8	's	's	PART
hassl-3690	169	9	stock	stock	NOUN
hassl-3690	169	10	returns	return	NOUN
hassl-3690	169	11	using	use	VERB
hassl-3690	169	12	the	the	DET
hassl-3690	169	13	following	following	ADJ
hassl-3690	169	14	model	model	NOUN
hassl-3690	169	15	which	which	PRON
hassl-3690	169	16	was	be	AUX
hassl-3690	169	17	based	base	VERB
hassl-3690	169	18	on	on	ADP
hassl-3690	169	19	the	the	DET
hassl-3690	169	20	study	study	NOUN
hassl-3690	169	21	's	's	PART
hassl-3690	169	22	measurement	measurement	NOUN
hassl-3690	169	23	model	model	NOUN
hassl-3690	169	24	(	(	PUNCT
hassl-3690	169	25	nadeem	nadeem	PROPN
hassl-3690	169	26	,	,	PUNCT
hassl-3690	169	27	suleman	suleman	PROPN
hassl-3690	169	28	,	,	PUNCT
hassl-3690	169	29	&	&	CCONJ
hassl-3690	169	30	ahmed	ahmed	PROPN
hassl-3690	169	31	,	,	PUNCT
hassl-3690	169	32	2019	2019	NUM
hassl-3690	169	33	)	)	PUNCT
hassl-3690	169	34	.	.	PUNCT
hassl-3690	170	1	idiosyncratic	idiosyncratic	ADJ
hassl-3690	170	2	risk	risk	NOUN
hassl-3690	170	3	is	be	AUX
hassl-3690	170	4	calculated	calculate	VERB
hassl-3690	170	5	using	use	VERB
hassl-3690	170	6	the	the	DET
hassl-3690	170	7	residual	residual	ADJ
hassl-3690	170	8	standard	standard	ADJ
hassl-3690	170	9	deviation	deviation	NOUN
hassl-3690	170	10	and	and	CCONJ
hassl-3690	170	11	is	be	AUX
hassl-3690	170	12	then	then	ADV
hassl-3690	170	13	annualized	annualize	VERB
hassl-3690	170	14	based	base	VERB
hassl-3690	170	15	on	on	ADP
hassl-3690	170	16	the	the	DET
hassl-3690	170	17	quantity	quantity	NOUN
hassl-3690	170	18	of	of	ADP
hassl-3690	170	19	trading	trading	NOUN
hassl-3690	170	20	days	day	NOUN
hassl-3690	170	21	that	that	PRON
hassl-3690	170	22	are	be	AUX
hassl-3690	170	23	act	act	NOUN
hassl-3690	171	1	i	i	PRON
hassl-3690	171	2	ve	ve	VERB
hassl-3690	171	3	during	during	ADP
hassl-3690	171	4	the	the	DET
hassl-3690	171	5	research	research	NOUN
hassl-3690	171	6	period	period	NOUN
hassl-3690	171	7	(	(	PUNCT
hassl-3690	171	8	nadeem	nadeem	PROPN
hassl-3690	171	9	et	et	PROPN
hassl-3690	171	10	al	al	PROPN
hassl-3690	171	11	.	.	PROPN
hassl-3690	171	12	,	,	PUNCT
hassl-3690	171	13	2019	2019	NUM
hassl-3690	171	14	;	;	PUNCT
hassl-3690	171	15	sila	sila	PROPN
hassl-3690	171	16	,	,	PUNCT
hassl-3690	171	17	gonzalez	gonzalez	PROPN
hassl-3690	171	18	,	,	PUNCT
hassl-3690	171	19	&	&	CCONJ
hassl-3690	171	20	hagendorff	hagendorff	PROPN
hassl-3690	171	21	,	,	PUNCT
hassl-3690	171	22	2017	2017	NUM
hassl-3690	171	23	)	)	PUNCT
hassl-3690	171	24	.	.	PUNCT
hassl-3690	172	1	equation	equation	NOUN
hassl-3690	172	2	1	1	NUM
hassl-3690	172	3	presents	present	VERB
hassl-3690	172	4	the	the	DET
hassl-3690	172	5	idiosyncratic	idiosyncratic	ADJ
hassl-3690	172	6	risk	risk	NOUN
hassl-3690	172	7	calculation	calculation	NOUN
hassl-3690	172	8	using	use	VERB
hassl-3690	172	9	a	a	DET
hassl-3690	172	10	single	single	ADJ
hassl-3690	172	11	factor	factor	NOUN
hassl-3690	172	12	model	model	NOUN
hassl-3690	172	13	.	.	PUNCT
hassl-3690	173	1	𝑅𝑖	𝑅𝑖	PROPN
hassl-3690	173	2	,	,	PUNCT
hassl-3690	173	3	𝑡	𝑡	PROPN
hassl-3690	173	4	−	−	NOUN
hassl-3690	173	5	𝑅𝑓,𝑡	𝑅𝑓,𝑡	NOUN
hassl-3690	173	6	=	=	SYM
hassl-3690	173	7	𝑖	𝑖	X
hassl-3690	173	8	,	,	PUNCT
hassl-3690	173	9	𝑡	𝑡	PROPN
hassl-3690	173	10	+	+	X
hassl-3690	173	11	𝛽𝑖	𝛽𝑖	ADJ
hassl-3690	173	12	,	,	PUNCT
hassl-3690	173	13	𝑡	𝑡	PROPN
hassl-3690	173	14	(	(	PUNCT
hassl-3690	173	15	𝑅𝑚,𝑡	𝑅𝑚,𝑡	PROPN
hassl-3690	173	16	−	−	PROPN
hassl-3690	173	17	𝑅𝑓,𝑡	𝑅𝑓,𝑡	PROPN
hassl-3690	173	18	)	)	PUNCT
hassl-3690	174	1	+	+	CCONJ
hassl-3690	174	2	𝑖	𝑖	ADV
hassl-3690	174	3	,	,	PUNCT
hassl-3690	174	4	𝑡	𝑡	X
hassl-3690	174	5	(	(	PUNCT
hassl-3690	174	6	1	1	NUM
hassl-3690	174	7	)	)	PUNCT
hassl-3690	174	8	𝑅𝑖	𝑅𝑖	PROPN
hassl-3690	174	9	,	,	PUNCT
hassl-3690	174	10	𝑡	𝑡	PROPN
hassl-3690	174	11	is	be	AUX
hassl-3690	174	12	company	company	NOUN
hassl-3690	174	13	daily	daily	ADJ
hassl-3690	174	14	returns	return	NOUN
hassl-3690	174	15	,	,	PUNCT
hassl-3690	174	16	𝑅𝑚,𝑡	𝑅𝑚,𝑡	PROPN
hassl-3690	174	17	is	be	AUX
hassl-3690	174	18	the	the	DET
hassl-3690	174	19	daily	daily	ADJ
hassl-3690	174	20	market	market	NOUN
hassl-3690	174	21	return	return	NOUN
hassl-3690	174	22	,	,	PUNCT
hassl-3690	174	23	𝑅𝑓	𝑅𝑓	PROPN
hassl-3690	174	24	,	,	PUNCT
hassl-3690	174	25	𝑡	𝑡	PROPN
hassl-3690	174	26	is	be	AUX
hassl-3690	174	27	the	the	DET
hassl-3690	174	28	risk	risk	NOUN
hassl-3690	174	29	-	-	PUNCT
hassl-3690	174	30	free	free	ADJ
hassl-3690	174	31	rate	rate	NOUN
hassl-3690	174	32	and	and	CCONJ
hassl-3690	174	33	𝑖	𝑖	ADV
hassl-3690	174	34	,	,	PUNCT
hassl-3690	174	35	𝑡	𝑡	VERB
hassl-3690	174	36	it	it	PRON
hassl-3690	174	37	calculates	calculate	VERB
hassl-3690	174	38	the	the	DET
hassl-3690	174	39	idiosyncratic	idiosyncratic	ADJ
hassl-3690	174	40	risk	risk	NOUN
hassl-3690	174	41	of	of	ADP
hassl-3690	174	42	each	each	DET
hassl-3690	174	43	company	company	NOUN
hassl-3690	174	44	using	use	VERB
hassl-3690	174	45	the	the	DET
hassl-3690	174	46	standard	standard	ADJ
hassl-3690	174	47	deviation	deviation	NOUN
hassl-3690	174	48	.	.	PUNCT
hassl-3690	175	1	the	the	DET
hassl-3690	175	2	measurement	measurement	NOUN
hassl-3690	175	3	of	of	ADP
hassl-3690	175	4	idiosyncratic	idiosyncratic	ADJ
hassl-3690	175	5	risk	risk	NOUN
hassl-3690	175	6	is	be	AUX
hassl-3690	175	7	also	also	ADV
hassl-3690	175	8	carried	carry	VERB
hassl-3690	175	9	out	out	ADP
hassl-3690	175	10	by	by	ADP
hassl-3690	175	11	a	a	DET
hassl-3690	175	12	robustness	robustness	NOUN
hassl-3690	175	13	test	test	NOUN
hassl-3690	175	14	using	use	VERB
hassl-3690	175	15	the	the	DET
hassl-3690	175	16	fama	fama	NOUN
hassl-3690	175	17	-	-	PUNCT
hassl-3690	175	18	french	french	ADJ
hassl-3690	175	19	three	three	NUM
hassl-3690	175	20	factors	factor	NOUN
hassl-3690	175	21	which	which	PRON
hassl-3690	175	22	are	be	AUX
hassl-3690	175	23	shown	show	VERB
hassl-3690	175	24	in	in	ADP
hassl-3690	175	25	table	table	NOUN
hassl-3690	175	26	3	3	NUM
hassl-3690	175	27	.	.	PUNCT
hassl-3690	176	1	shareholders	shareholder	NOUN
hassl-3690	176	2	are	be	AUX
hassl-3690	176	3	declared	declare	VERB
hassl-3690	176	4	large	large	ADJ
hassl-3690	176	5	shareholders	shareholder	NOUN
hassl-3690	176	6	by	by	ADP
hassl-3690	176	7	classifying	classify	VERB
hassl-3690	176	8	dispersed	disperse	VERB
hassl-3690	176	9	or	or	CCONJ
hassl-3690	176	10	concentrated	concentrated	ADJ
hassl-3690	176	11	ownership	ownership	NOUN
hassl-3690	176	12	based	base	VERB
hassl-3690	176	13	on	on	ADP
hassl-3690	176	14	the	the	DET
hassl-3690	176	15	percentage	percentage	NOUN
hassl-3690	176	16	of	of	ADP
hassl-3690	176	17	direct	direct	ADJ
hassl-3690	176	18	share	share	NOUN
hassl-3690	176	19	ownership	ownership	NOUN
hassl-3690	176	20	or	or	CCONJ
hassl-3690	176	21	immediate	immediate	ADJ
hassl-3690	176	22	ownership	ownership	NOUN
hassl-3690	176	23	(	(	PUNCT
hassl-3690	176	24	la	la	INTJ
hassl-3690	176	25	porta	porta	NOUN
hassl-3690	176	26	et	et	PROPN
hassl-3690	176	27	al	al	PROPN
hassl-3690	176	28	.	.	PROPN
hassl-3690	176	29	,	,	PUNCT
hassl-3690	176	30	1999	1999	NUM
hassl-3690	176	31	)	)	PUNCT
hassl-3690	176	32	.	.	PUNCT
hassl-3690	177	1	shareholders	shareholder	NOUN
hassl-3690	177	2	categorized	categorize	VERB
hassl-3690	177	3	as	as	SCONJ
hassl-3690	177	4	large	large	ADJ
hassl-3690	177	5	shareholders	shareholder	NOUN
hassl-3690	177	6	are	be	AUX
hassl-3690	177	7	the	the	DET
hassl-3690	177	8	number	number	NOUN
hassl-3690	177	9	of	of	ADP
hassl-3690	177	10	shareholders	shareholder	NOUN
hassl-3690	177	11	who	who	PRON
hassl-3690	177	12	own	own	VERB
hassl-3690	177	13	at	at	ADV
hassl-3690	177	14	least	least	ADV
hassl-3690	177	15	10	10	NUM
hassl-3690	177	16	%	%	NOUN
hassl-3690	177	17	of	of	ADP
hassl-3690	177	18	the	the	DET
hassl-3690	177	19	company	company	NOUN
hassl-3690	177	20	's	's	PART
hassl-3690	177	21	outstanding	outstanding	ADJ
hassl-3690	177	22	shares	share	NOUN
hassl-3690	177	23	(	(	PUNCT
hassl-3690	177	24	duygun	duygun	NOUN
hassl-3690	177	25	,	,	PUNCT
hassl-3690	177	26	guney	guney	NOUN
hassl-3690	177	27	,	,	PUNCT
hassl-3690	177	28	&	&	CCONJ
hassl-3690	177	29	moin	moin	PROPN
hassl-3690	177	30	,	,	PUNCT
hassl-3690	177	31	2018	2018	NUM
hassl-3690	177	32	;	;	PUNCT
hassl-3690	177	33	la	la	PROPN
hassl-3690	177	34	porta	porta	NOUN
hassl-3690	177	35	et	et	PROPN
hassl-3690	177	36	al	al	PROPN
hassl-3690	177	37	.	.	PROPN
hassl-3690	177	38	,	,	PUNCT
hassl-3690	177	39	1999	1999	NUM
hassl-3690	177	40	)	)	PUNCT
hassl-3690	177	41	.	.	PUNCT
hassl-3690	178	1	thomsen	thomsen	PROPN
hassl-3690	178	2	,	,	PUNCT
hassl-3690	178	3	pedersen	pedersen	PROPN
hassl-3690	178	4	,	,	PUNCT
hassl-3690	178	5	and	and	CCONJ
hassl-3690	178	6	kvist	kvist	NOUN
hassl-3690	178	7	(	(	PUNCT
hassl-3690	178	8	2006	2006	NUM
hassl-3690	178	9	)	)	PUNCT
hassl-3690	178	10	state	state	NOUN
hassl-3690	178	11	that	that	SCONJ
hassl-3690	178	12	high	high	ADJ
hassl-3690	178	13	block	block	NOUN
hassl-3690	178	14	holders	holder	NOUN
hassl-3690	178	15	were	be	AUX
hassl-3690	178	16	defined	define	VERB
hassl-3690	178	17	as	as	ADP
hassl-3690	178	18	major	major	ADJ
hassl-3690	178	19	shareholders	shareholder	NOUN
hassl-3690	178	20	in	in	ADP
hassl-3690	178	21	this	this	DET
hassl-3690	178	22	analysis	analysis	NOUN
hassl-3690	178	23	if	if	SCONJ
hassl-3690	178	24	they	they	PRON
hassl-3690	178	25	held	hold	VERB
hassl-3690	178	26	more	more	ADJ
hassl-3690	178	27	than	than	ADP
hassl-3690	178	28	10	10	NUM
hassl-3690	178	29	%	%	NOUN
hassl-3690	178	30	of	of	ADP
hassl-3690	178	31	the	the	DET
hassl-3690	178	32	shares	share	NOUN
hassl-3690	178	33	.	.	PUNCT
hassl-3690	179	1	the	the	DET
hassl-3690	179	2	calculation	calculation	NOUN
hassl-3690	179	3	of	of	ADP
hassl-3690	179	4	large	large	ADJ
hassl-3690	179	5	shareholders	shareholder	NOUN
hassl-3690	179	6	is	be	AUX
hassl-3690	179	7	the	the	DET
hassl-3690	179	8	percentage	percentage	NOUN
hassl-3690	179	9	of	of	ADP
hassl-3690	179	10	the	the	DET
hassl-3690	179	11	largest	large	ADJ
hassl-3690	179	12	share	share	NOUN
hassl-3690	179	13	ownership	ownership	NOUN
hassl-3690	179	14	owned	own	VERB
hassl-3690	179	15	by	by	ADP
hassl-3690	179	16	the	the	DET
hassl-3690	179	17	owner	owner	NOUN
hassl-3690	179	18	's	's	PART
hassl-3690	179	19	largest	large	ADJ
hassl-3690	179	20	stock	stock	NOUN
hassl-3690	179	21	(	(	PUNCT
hassl-3690	179	22	zhou	zhou	PROPN
hassl-3690	179	23	&	&	CCONJ
hassl-3690	179	24	huang	huang	PROPN
hassl-3690	179	25	,	,	PUNCT
hassl-3690	179	26	2016	2016	NUM
hassl-3690	179	27	)	)	PUNCT
hassl-3690	179	28	.	.	PUNCT
hassl-3690	180	1	this	this	DET
hassl-3690	180	2	study	study	NOUN
hassl-3690	180	3	uses	use	VERB
hassl-3690	180	4	moderating	moderate	VERB
hassl-3690	180	5	variables	variable	NOUN
hassl-3690	180	6	that	that	PRON
hassl-3690	180	7	can	can	AUX
hassl-3690	180	8	strengthen	strengthen	VERB
hassl-3690	180	9	or	or	CCONJ
hassl-3690	180	10	weaken	weaken	VERB
hassl-3690	180	11	the	the	DET
hassl-3690	180	12	relationship	relationship	NOUN
hassl-3690	180	13	between	between	ADP
hassl-3690	180	14	one	one	NUM
hassl-3690	180	15	variable	variable	NOUN
hassl-3690	180	16	and	and	CCONJ
hassl-3690	180	17	another	another	PRON
hassl-3690	180	18	.	.	PUNCT
hassl-3690	181	1	several	several	ADJ
hassl-3690	181	2	directorships	directorship	NOUN
hassl-3690	181	3	in	in	ADP
hassl-3690	181	4	this	this	DET
hassl-3690	181	5	study	study	NOUN
hassl-3690	181	6	are	be	AUX
hassl-3690	181	7	the	the	DET
hassl-3690	181	8	moderating	moderate	VERB
hassl-3690	181	9	variables	variable	NOUN
hassl-3690	181	10	because	because	SCONJ
hassl-3690	181	11	of	of	ADP
hassl-3690	181	12	indonesia	indonesia	PROPN
hassl-3690	181	13	's	's	PART
hassl-3690	181	14	two	two	NUM
hassl-3690	181	15	-	-	PUNCT
hassl-3690	181	16	tier	tier	NOUN
hassl-3690	181	17	system	system	NOUN
hassl-3690	181	18	.	.	PUNCT
hassl-3690	182	1	dual	dual	ADJ
hassl-3690	182	2	locations	location	NOUN
hassl-3690	182	3	merely	merely	ADV
hassl-3690	182	4	suggested	suggest	VERB
hassl-3690	182	5	their	their	PRON
hassl-3690	182	6	existence	existence	NOUN
hassl-3690	182	7	in	in	ADP
hassl-3690	182	8	earlier	early	ADJ
hassl-3690	182	9	research	research	NOUN
hassl-3690	182	10	.	.	PUNCT
hassl-3690	183	1	however	however	ADV
hassl-3690	183	2	,	,	PUNCT
hassl-3690	183	3	according	accord	VERB
hassl-3690	183	4	to	to	ADP
hassl-3690	183	5	fich	fich	NOUN
hassl-3690	183	6	and	and	CCONJ
hassl-3690	183	7	shivdasani	shivdasani	PROPN
hassl-3690	183	8	(	(	PUNCT
hassl-3690	183	9	2006	2006	NUM
hassl-3690	183	10	)	)	PUNCT
hassl-3690	183	11	when	when	SCONJ
hassl-3690	183	12	calculating	calculate	VERB
hassl-3690	183	13	multiple	multiple	ADJ
hassl-3690	183	14	directorship	directorship	NOUN
hassl-3690	183	15	,	,	PUNCT
hassl-3690	183	16	the	the	DET
hassl-3690	183	17	board	board	NOUN
hassl-3690	183	18	of	of	ADP
hassl-3690	183	19	commissioners	commissioner	NOUN
hassl-3690	183	20	who	who	PRON
hassl-3690	183	21	hold	hold	VERB
hassl-3690	183	22	more	more	ADJ
hassl-3690	183	23	than	than	ADP
hassl-3690	183	24	two	two	NUM
hassl-3690	183	25	positions	position	NOUN
hassl-3690	183	26	is	be	AUX
hassl-3690	183	27	divided	divide	VERB
hassl-3690	183	28	by	by	ADP
hassl-3690	183	29	the	the	DET
hassl-3690	183	30	total	total	ADJ
hassl-3690	183	31	number	number	NOUN
hassl-3690	183	32	of	of	ADP
hassl-3690	183	33	board	board	NOUN
hassl-3690	183	34	of	of	ADP
hassl-3690	183	35	commissioners	commissioner	NOUN
hassl-3690	183	36	in	in	ADP
hassl-3690	183	37	the	the	DET
hassl-3690	183	38	company	company	NOUN
hassl-3690	183	39	.	.	PUNCT
hassl-3690	184	1	equation	equation	NOUN
hassl-3690	184	2	2	2	NUM
hassl-3690	184	3	presents	present	VERB
hassl-3690	184	4	the	the	DET
hassl-3690	184	5	calculation	calculation	NOUN
hassl-3690	184	6	of	of	ADP
hassl-3690	184	7	multiple	multiple	ADJ
hassl-3690	184	8	directorships	directorship	NOUN
hassl-3690	184	9	.	.	PUNCT
hassl-3690	185	1	𝑀𝐷𝑖	𝑀𝐷𝑖	NOUN
hassl-3690	185	2	,	,	PUNCT
hassl-3690	185	3	𝑡	𝑡	PROPN
hassl-3690	185	4	=	=	SYM
hassl-3690	185	5	𝑇ℎ𝑒	𝑇ℎ𝑒	PROPN
hassl-3690	185	6	𝑛𝑢𝑚𝑏𝑒𝑟	𝑛𝑢𝑚𝑏𝑒𝑟	NOUN
hassl-3690	185	7	𝑜𝑓	𝑜𝑓	ADP
hassl-3690	185	8	𝑚𝑒𝑚𝑏𝑒𝑟𝑠	𝑚𝑒𝑚𝑏𝑒𝑟𝑠	PROPN
hassl-3690	185	9	𝑜𝑓	𝑜𝑓	INTJ
hassl-3690	185	10	𝑡ℎ𝑒	𝑡ℎ𝑒	PROPN
hassl-3690	185	11	𝑏𝑜𝑎𝑟𝑑	𝑏𝑜𝑎𝑟𝑑	NOUN
hassl-3690	185	12	𝑜𝑓	𝑜𝑓	ADP
hassl-3690	185	13	𝑐𝑜𝑚𝑚𝑖𝑠𝑠𝑖𝑜𝑛𝑒𝑟𝑠	𝑐𝑜𝑚𝑚𝑖𝑠𝑠𝑖𝑜𝑛𝑒𝑟𝑠	PROPN
hassl-3690	185	14	𝑐𝑜𝑛𝑐𝑢𝑟𝑟𝑒𝑛𝑡𝑙𝑦	𝑐𝑜𝑛𝑐𝑢𝑟𝑟𝑒𝑛𝑡𝑙𝑦	PROPN
hassl-3690	185	15	ℎ𝑜𝑙𝑑	ℎ𝑜𝑙𝑑	VERB
hassl-3690	185	16	≥	≥	NUM
hassl-3690	186	1	2	2	NUM
hassl-3690	186	2	𝑝𝑜𝑠𝑖𝑡	𝑝𝑜𝑠𝑖𝑡	ADJ
hassl-3690	186	3	𝑖𝑜𝑛𝑠	𝑖𝑜𝑛𝑠	NOUN
hassl-3690	186	4	𝐵𝑜𝑎𝑟𝑑	𝐵𝑜𝑎𝑟𝑑	PROPN
hassl-3690	186	5	𝑜𝑓	𝑜𝑓	ADP
hassl-3690	186	6	𝑐𝑜𝑚𝑚𝑖𝑠𝑠𝑖𝑜𝑛𝑒𝑟𝑠	𝑐𝑜𝑚𝑚𝑖𝑠𝑠𝑖𝑜𝑛𝑒𝑟𝑠	PROPN
hassl-3690	186	7	𝑠𝑖𝑧𝑒	𝑠𝑖𝑧𝑒	PROPN
hassl-3690	186	8	(	(	PUNCT
hassl-3690	186	9	2	2	X
hassl-3690	186	10	)	)	PUNCT
hassl-3690	186	11	the	the	DET
hassl-3690	186	12	study	study	NOUN
hassl-3690	186	13	's	's	PART
hassl-3690	186	14	control	control	NOUN
hassl-3690	186	15	variables	variable	NOUN
hassl-3690	186	16	include	include	VERB
hassl-3690	186	17	firm	firm	ADJ
hassl-3690	186	18	size	size	NOUN
hassl-3690	186	19	(	(	PUNCT
hassl-3690	186	20	size	size	NOUN
hassl-3690	186	21	)	)	PUNCT
hassl-3690	186	22	,	,	PUNCT
hassl-3690	186	23	firm	firm	ADJ
hassl-3690	186	24	age	age	NOUN
hassl-3690	186	25	(	(	PUNCT
hassl-3690	186	26	age	age	NOUN
hassl-3690	186	27	)	)	PUNCT
hassl-3690	186	28	,	,	PUNCT
hassl-3690	186	29	leverage	leverage	NOUN
hassl-3690	186	30	(	(	PUNCT
hassl-3690	186	31	lev	lev	NOUN
hassl-3690	186	32	)	)	PUNCT
hassl-3690	186	33	,	,	PUNCT
hassl-3690	186	34	return	return	VERB
hassl-3690	186	35	on	on	ADP
hassl-3690	186	36	assets	asset	NOUN
hassl-3690	186	37	(	(	PUNCT
hassl-3690	186	38	roa	roa	NOUN
hassl-3690	186	39	)	)	PUNCT
hassl-3690	186	40	,	,	PUNCT
hassl-3690	186	41	volume	volume	NOUN
hassl-3690	186	42	turnover	turnover	NOUN
hassl-3690	186	43	(	(	PUNCT
hassl-3690	186	44	vt	vt	NOUN
hassl-3690	186	45	)	)	PUNCT
hassl-3690	186	46	,	,	PUNCT
hassl-3690	186	47	and	and	CCONJ
hassl-3690	186	48	industry	industry	NOUN
hassl-3690	186	49	(	(	PUNCT
hassl-3690	186	50	indt	indt	NOUN
hassl-3690	186	51	)	)	PUNCT
hassl-3690	186	52	.	.	PUNCT
hassl-3690	187	1	the	the	DET
hassl-3690	187	2	log	log	NOUN
hassl-3690	187	3	of	of	ADP
hassl-3690	187	4	all	all	DET
hassl-3690	187	5	assets	asset	NOUN
hassl-3690	187	6	is	be	AUX
hassl-3690	187	7	used	use	VERB
hassl-3690	187	8	to	to	PART
hassl-3690	187	9	compute	compute	VERB
hassl-3690	187	10	size	size	NOUN
hassl-3690	187	11	.	.	PUNCT
hassl-3690	188	1	logging	log	VERB
hassl-3690	188	2	company	company	NOUN
hassl-3690	188	3	age	age	NOUN
hassl-3690	188	4	is	be	AUX
hassl-3690	188	5	the	the	DET
hassl-3690	188	6	difference	difference	NOUN
hassl-3690	188	7	between	between	ADP
hassl-3690	188	8	the	the	DET
hassl-3690	188	9	age	age	NOUN
hassl-3690	188	10	of	of	ADP
hassl-3690	188	11	the	the	DET
hassl-3690	188	12	research	research	NOUN
hassl-3690	188	13	period	period	NOUN
hassl-3690	188	14	and	and	CCONJ
hassl-3690	188	15	the	the	DET
hassl-3690	188	16	age	age	NOUN
hassl-3690	188	17	of	of	ADP
hassl-3690	188	18	the	the	DET
hassl-3690	188	19	company	company	NOUN
hassl-3690	188	20	established	establish	VERB
hassl-3690	188	21	.	.	PUNCT
hassl-3690	189	1	the	the	DET
hassl-3690	189	2	leverage	leverage	NOUN
hassl-3690	189	3	calculation	calculation	NOUN
hassl-3690	189	4	is	be	AUX
hassl-3690	189	5	shown	show	VERB
hassl-3690	189	6	in	in	ADP
hassl-3690	189	7	equation	equation	NOUN
hassl-3690	189	8	3	3	NUM
hassl-3690	189	9	and	and	CCONJ
hassl-3690	189	10	we	we	PRON
hassl-3690	189	11	use	use	VERB
hassl-3690	189	12	mitton	mitton	PROPN
hassl-3690	189	13	's	's	PART
hassl-3690	189	14	(	(	PUNCT
hassl-3690	189	15	2002	2002	NUM
hassl-3690	189	16	)	)	PUNCT
hassl-3690	189	17	method	method	NOUN
hassl-3690	189	18	.	.	PUNCT
hassl-3690	190	1	𝐿𝐸𝑉𝑖	𝐿𝐸𝑉𝑖	PROPN
hassl-3690	190	2	,	,	PUNCT
hassl-3690	190	3	𝑡−1	𝑡−1	PROPN
hassl-3690	190	4	=	=	SYM
hassl-3690	191	1	𝑇𝑜𝑡𝑎𝑙	𝑇𝑜𝑡𝑎𝑙	PROPN
hassl-3690	191	2	𝐷𝑒𝑏𝑡𝑖	𝐷𝑒𝑏𝑡𝑖	PROPN
hassl-3690	191	3	,	,	PUNCT
hassl-3690	191	4	𝑡	𝑡	ADP
hassl-3690	191	5	𝐵𝑜𝑜𝑘	𝐵𝑜𝑜𝑘	PROPN
hassl-3690	191	6	𝑉𝑎𝑙𝑢𝑒	𝑉𝑎𝑙𝑢𝑒	PROPN
hassl-3690	191	7	𝑜𝑓	𝑜𝑓	ADP
hassl-3690	191	8	𝑇𝑜𝑡𝑎𝑙	𝑇𝑜𝑡𝑎𝑙	PROPN
hassl-3690	191	9	𝐶𝑎𝑝𝑖𝑡𝑎𝑙𝑖	𝐶𝑎𝑝𝑖𝑡𝑎𝑙𝑖	PROPN
hassl-3690	191	10	,	,	PUNCT
hassl-3690	191	11	𝑡	𝑡	PROPN
hassl-3690	191	12	(	(	PUNCT
hassl-3690	191	13	3	3	NUM
hassl-3690	191	14	)	)	PUNCT
hassl-3690	191	15	income	income	NOUN
hassl-3690	191	16	before	before	ADP
hassl-3690	191	17	extraordinary	extraordinary	ADJ
hassl-3690	191	18	items	item	NOUN
hassl-3690	191	19	divided	divide	VERB
hassl-3690	191	20	by	by	ADP
hassl-3690	191	21	the	the	DET
hassl-3690	191	22	book	book	NOUN
hassl-3690	191	23	value	value	NOUN
hassl-3690	191	24	of	of	ADP
hassl-3690	191	25	equity	equity	NOUN
hassl-3690	191	26	at	at	ADP
hassl-3690	191	27	the	the	DET
hassl-3690	191	28	end	end	NOUN
hassl-3690	191	29	of	of	ADP
hassl-3690	191	30	the	the	DET
hassl-3690	191	31	fiscal	fiscal	ADJ
hassl-3690	191	32	year	year	NOUN
hassl-3690	191	33	is	be	AUX
hassl-3690	191	34	known	know	VERB
hassl-3690	191	35	as	as	ADP
hassl-3690	191	36	return	return	NOUN
hassl-3690	191	37	on	on	ADP
hassl-3690	191	38	assests	assest	NOUN
hassl-3690	191	39	(	(	PUNCT
hassl-3690	191	40	roa	roa	NOUN
hassl-3690	191	41	)	)	PUNCT
hassl-3690	191	42	(	(	PUNCT
hassl-3690	191	43	kim	kim	PROPN
hassl-3690	191	44	,	,	PUNCT
hassl-3690	191	45	song	song	NOUN
hassl-3690	191	46	,	,	PUNCT
hassl-3690	191	47	&	&	CCONJ
hassl-3690	191	48	zhang	zhang	PROPN
hassl-3690	191	49	,	,	PUNCT
hassl-3690	191	50	2015	2015	NUM
hassl-3690	191	51	)	)	PUNCT
hassl-3690	191	52	present	present	ADJ
hassl-3690	191	53	in	in	ADP
hassl-3690	191	54	equation	equation	NOUN
hassl-3690	191	55	4	4	NUM
hassl-3690	191	56	.	.	PUNCT
hassl-3690	192	1	humanities	humanity	NOUN
hassl-3690	192	2	and	and	CCONJ
hassl-3690	192	3	social	social	ADJ
hassl-3690	192	4	sciences	science	NOUN
hassl-3690	192	5	letters	letter	NOUN
hassl-3690	192	6	,	,	PUNCT
hassl-3690	192	7	2024	2024	NUM
hassl-3690	192	8	,	,	PUNCT
hassl-3690	192	9	12(2	12(2	NUM
hassl-3690	192	10	):	):	PUNCT
hassl-3690	192	11	218	218	NUM
hassl-3690	192	12	-	-	SYM
hassl-3690	192	13	232	232	NUM
hassl-3690	192	14	224	224	NUM
hassl-3690	192	15	©	©	PROPN
hassl-3690	192	16	2024	2024	NUM
hassl-3690	192	17	conscientia	conscientia	PROPN
hassl-3690	192	18	beam	beam	PROPN
hassl-3690	192	19	.	.	PUNCT
hassl-3690	193	1	all	all	DET
hassl-3690	193	2	rights	right	NOUN
hassl-3690	193	3	reserved	reserve	VERB
hassl-3690	193	4	.	.	PUNCT
hassl-3690	194	1	𝑅𝑂𝐴𝑖	𝑅𝑂𝐴𝑖	PROPN
hassl-3690	194	2	,	,	PUNCT
hassl-3690	194	3	𝑡−1	𝑡−1	PROPN
hassl-3690	194	4	=	=	SYM
hassl-3690	194	5	𝐸𝐵𝐼𝑇𝑖,𝑡−1	𝐸𝐵𝐼𝑇𝑖,𝑡−1	PROPN
hassl-3690	195	1	𝑇𝑜𝑡𝑎𝑙	𝑇𝑜𝑡𝑎𝑙	PROPN
hassl-3690	195	2	𝐴𝑠𝑠𝑒𝑡𝑠𝑖	𝐴𝑠𝑠𝑒𝑡𝑠𝑖	PROPN
hassl-3690	195	3	,	,	PUNCT
hassl-3690	195	4	𝑡−1	𝑡−1	PROPN
hassl-3690	195	5	(	(	PUNCT
hassl-3690	195	6	4	4	NUM
hassl-3690	195	7	)	)	PUNCT
hassl-3690	195	8	volume	volume	NOUN
hassl-3690	195	9	turnover	turnover	NOUN
hassl-3690	195	10	(	(	PUNCT
hassl-3690	195	11	vt	vt	NOUN
hassl-3690	195	12	)	)	PUNCT
hassl-3690	195	13	is	be	AUX
hassl-3690	195	14	the	the	DET
hassl-3690	195	15	mean	mean	ADJ
hassl-3690	195	16	deviation	deviation	NOUN
hassl-3690	195	17	of	of	ADP
hassl-3690	195	18	the	the	DET
hassl-3690	195	19	monthly	monthly	ADJ
hassl-3690	195	20	share	share	NOUN
hassl-3690	195	21	turnover	turnover	NOUN
hassl-3690	195	22	in	in	ADP
hassl-3690	195	23	year	year	NOUN
hassl-3690	195	24	t	t	NOUN
hassl-3690	195	25	from	from	ADP
hassl-3690	195	26	the	the	DET
hassl-3690	195	27	monthly	monthly	ADJ
hassl-3690	195	28	share	share	NOUN
hassl-3690	195	29	turnover	turnover	NOUN
hassl-3690	195	30	on	on	ADP
hassl-3690	195	31	average	average	ADJ
hassl-3690	195	32	in	in	ADP
hassl-3690	195	33	year	year	NOUN
hassl-3690	195	34	t-1	t-1	PROPN
hassl-3690	195	35	presented	present	VERB
hassl-3690	195	36	in	in	ADP
hassl-3690	195	37	equation	equation	NOUN
hassl-3690	195	38	5	5	NUM
hassl-3690	195	39	.	.	PUNCT
hassl-3690	195	40	𝑉𝑇𝑖	𝑉𝑇𝑖	PROPN
hassl-3690	195	41	,	,	PUNCT
hassl-3690	195	42	𝑡	𝑡	X
hassl-3690	195	43	−1	−1	NOUN
hassl-3690	195	44	=	=	SYM
hassl-3690	195	45	𝑇𝑟𝑎𝑑𝑒	𝑇𝑟𝑎𝑑𝑒	PROPN
hassl-3690	195	46	𝑆ℎ𝑎𝑟𝑒𝑠𝑖,𝑡	𝑆ℎ𝑎𝑟𝑒𝑠𝑖,𝑡	PROPN
hassl-3690	195	47	𝑂𝑢𝑡𝑠𝑡𝑎𝑛𝑑𝑖𝑛𝑔	𝑂𝑢𝑡𝑠𝑡𝑎𝑛𝑑𝑖𝑛𝑔	PROPN
hassl-3690	195	48	𝑆ℎ𝑎𝑟𝑒𝑠𝑖,𝑡	𝑆ℎ𝑎𝑟𝑒𝑠𝑖,𝑡	PUNCT
hassl-3690	195	49	−	−	PUNCT
hassl-3690	195	50	∑	∑	PUNCT
hassl-3690	195	51	𝑇𝑟𝑎𝑑𝑒𝑑	𝑇𝑟𝑎𝑑𝑒𝑑	PROPN
hassl-3690	195	52	𝑆ℎ𝑎𝑟𝑒𝑠𝑖,𝑡𝑛	𝑆ℎ𝑎𝑟𝑒𝑠𝑖,𝑡𝑛	PROPN
hassl-3690	196	1	𝑂𝑢𝑡𝑠𝑡𝑎𝑛𝑑𝑖𝑛𝑔	𝑂𝑢𝑡𝑠𝑡𝑎𝑛𝑑𝑖𝑛𝑔	PROPN
hassl-3690	196	2	𝑆ℎ𝑎𝑟𝑒𝑠𝑖,𝑡𝑛	𝑆ℎ𝑎𝑟𝑒𝑠𝑖,𝑡𝑛	PROPN
hassl-3690	196	3	𝑡−1	𝑡−1	PROPN
hassl-3690	196	4	𝑡−1	𝑡−1	PROPN
hassl-3690	196	5	(	(	PUNCT
hassl-3690	196	6	5	5	NUM
hassl-3690	196	7	)	)	PUNCT
hassl-3690	196	8	industry	industry	NOUN
hassl-3690	196	9	(	(	PUNCT
hassl-3690	196	10	indt	indt	NOUN
hassl-3690	196	11	)	)	PUNCT
hassl-3690	196	12	is	be	AUX
hassl-3690	196	13	a	a	DET
hassl-3690	196	14	dummy	dummy	ADJ
hassl-3690	196	15	variable	variable	NOUN
hassl-3690	196	16	for	for	ADP
hassl-3690	196	17	manufacturing	manufacture	VERB
hassl-3690	196	18	companies	company	NOUN
hassl-3690	196	19	.	.	PUNCT
hassl-3690	197	1	businesses	business	NOUN
hassl-3690	197	2	classified	classify	VERB
hassl-3690	197	3	as	as	SCONJ
hassl-3690	197	4	manufacturing	manufacturing	NOUN
hassl-3690	197	5	companies	company	NOUN
hassl-3690	197	6	are	be	AUX
hassl-3690	197	7	assigned	assign	VERB
hassl-3690	197	8	a	a	DET
hassl-3690	197	9	value	value	NOUN
hassl-3690	197	10	of	of	ADP
hassl-3690	197	11	1	1	NUM
hassl-3690	197	12	while	while	SCONJ
hassl-3690	197	13	businesses	business	NOUN
hassl-3690	197	14	classified	classify	VERB
hassl-3690	197	15	as	as	ADP
hassl-3690	197	16	non	non	ADJ
hassl-3690	197	17	-	-	ADJ
hassl-3690	197	18	manufacturing	manufacturing	ADJ
hassl-3690	197	19	companies	company	NOUN
hassl-3690	197	20	are	be	AUX
hassl-3690	197	21	assigned	assign	VERB
hassl-3690	197	22	a	a	DET
hassl-3690	197	23	value	value	NOUN
hassl-3690	197	24	of	of	ADP
hassl-3690	197	25	0	0	NUM
hassl-3690	197	26	.	.	PUNCT
hassl-3690	198	1	a	a	DET
hassl-3690	198	2	manufacturing	manufacture	VERB
hassl-3690	198	3	company	company	NOUN
hassl-3690	198	4	is	be	AUX
hassl-3690	198	5	one	one	NUM
hassl-3690	198	6	of	of	ADP
hassl-3690	198	7	the	the	DET
hassl-3690	198	8	companies	company	NOUN
hassl-3690	198	9	that	that	PRON
hassl-3690	198	10	has	have	VERB
hassl-3690	198	11	the	the	DET
hassl-3690	198	12	characteristics	characteristic	NOUN
hassl-3690	198	13	of	of	ADP
hassl-3690	198	14	uncertain	uncertain	ADJ
hassl-3690	198	15	expected	expect	VERB
hassl-3690	198	16	returns	return	NOUN
hassl-3690	198	17	(	(	PUNCT
hassl-3690	198	18	mazzucato	mazzucato	PROPN
hassl-3690	198	19	&	&	CCONJ
hassl-3690	198	20	tancioni	tancioni	ADJ
hassl-3690	198	21	,	,	PUNCT
hassl-3690	198	22	2008	2008	NUM
hassl-3690	198	23	)	)	PUNCT
hassl-3690	198	24	.	.	PUNCT
hassl-3690	199	1	3.3	3.3	NUM
hassl-3690	199	2	.	.	PUNCT
hassl-3690	200	1	analysis	analysis	NOUN
hassl-3690	200	2	method	method	NOUN
hassl-3690	200	3	the	the	DET
hassl-3690	200	4	data	datum	NOUN
hassl-3690	200	5	were	be	AUX
hassl-3690	200	6	analyzed	analyze	VERB
hassl-3690	200	7	using	use	VERB
hassl-3690	200	8	the	the	DET
hassl-3690	200	9	fixed	fix	VERB
hassl-3690	200	10	effect	effect	NOUN
hassl-3690	200	11	and	and	CCONJ
hassl-3690	200	12	dynamic	dynamic	ADJ
hassl-3690	200	13	panel	panel	NOUN
hassl-3690	200	14	-	-	PUNCT
hassl-3690	200	15	data	datum	NOUN
hassl-3690	200	16	estimation	estimation	NOUN
hassl-3690	200	17	,	,	PUNCT
hassl-3690	200	18	two	two	NUM
hassl-3690	200	19	-	-	PUNCT
hassl-3690	200	20	step	step	NOUN
hassl-3690	200	21	generalized	generalize	VERB
hassl-3690	200	22	method	method	NOUN
hassl-3690	200	23	of	of	ADP
hassl-3690	200	24	moment	moment	NOUN
hassl-3690	200	25	(	(	PUNCT
hassl-3690	200	26	gmm	gmm	NOUN
hassl-3690	200	27	)	)	PUNCT
hassl-3690	200	28	system	system	NOUN
hassl-3690	200	29	.	.	PUNCT
hassl-3690	201	1	the	the	DET
hassl-3690	201	2	fixed	fix	VERB
hassl-3690	201	3	effects	effect	NOUN
hassl-3690	201	4	model	model	NOUN
hassl-3690	201	5	is	be	AUX
hassl-3690	201	6	appropriate	appropriate	ADJ
hassl-3690	201	7	when	when	SCONJ
hassl-3690	201	8	we	we	PRON
hassl-3690	201	9	focus	focus	VERB
hassl-3690	201	10	on	on	ADP
hassl-3690	201	11	a	a	DET
hassl-3690	201	12	specific	specific	ADJ
hassl-3690	201	13	firm	firm	ADJ
hassl-3690	201	14	characteristic	characteristic	NOUN
hassl-3690	201	15	(	(	PUNCT
hassl-3690	201	16	𝑐𝑖	𝑐𝑖	NOUN
hassl-3690	201	17	,	,	PUNCT
hassl-3690	201	18	𝑡	𝑡	PROPN
hassl-3690	201	19	)	)	PUNCT
hassl-3690	201	20	and	and	CCONJ
hassl-3690	201	21	therefore	therefore	ADV
hassl-3690	201	22	𝑒𝑖	𝑒𝑖	X
hassl-3690	201	23	,	,	PUNCT
hassl-3690	201	24	𝑡	𝑡	X
hassl-3690	201	25	=	=	SYM
hassl-3690	201	26	𝑣𝑖,𝑡	𝑣𝑖,𝑡	X
hassl-3690	201	27	+	+	CCONJ
hassl-3690	201	28	𝑐𝑖	𝑐𝑖	NOUN
hassl-3690	201	29	,	,	PUNCT
hassl-3690	201	30	𝑡	𝑡	VERB
hassl-3690	201	31	with	with	ADP
hassl-3690	201	32	𝑣𝑖,𝑡	𝑣𝑖,𝑡	VERB
hassl-3690	201	33	being	be	AUX
hassl-3690	201	34	a	a	DET
hassl-3690	201	35	time	time	NOUN
hassl-3690	201	36	-	-	PUNCT
hassl-3690	201	37	varying	vary	VERB
hassl-3690	201	38	error	error	NOUN
hassl-3690	201	39	component	component	NOUN
hassl-3690	201	40	.	.	PUNCT
hassl-3690	202	1	the	the	DET
hassl-3690	202	2	selection	selection	NOUN
hassl-3690	202	3	of	of	ADP
hassl-3690	202	4	estimates	estimate	NOUN
hassl-3690	202	5	using	use	VERB
hassl-3690	202	6	the	the	DET
hassl-3690	202	7	dynamic	dynamic	ADJ
hassl-3690	202	8	panel	panel	NOUN
hassl-3690	202	9	-	-	PUNCT
hassl-3690	202	10	data	datum	NOUN
hassl-3690	202	11	estimation	estimation	NOUN
hassl-3690	202	12	two	two	NUM
hassl-3690	202	13	-	-	PUNCT
hassl-3690	202	14	step	step	NOUN
hassl-3690	202	15	generalized	generalize	VERB
hassl-3690	202	16	method	method	NOUN
hassl-3690	202	17	of	of	ADP
hassl-3690	202	18	moment	moment	NOUN
hassl-3690	202	19	(	(	PUNCT
hassl-3690	202	20	gmm	gmm	NOUN
hassl-3690	202	21	)	)	PUNCT
hassl-3690	202	22	system	system	NOUN
hassl-3690	202	23	is	be	AUX
hassl-3690	202	24	due	due	ADJ
hassl-3690	202	25	to	to	ADP
hassl-3690	202	26	data	datum	NOUN
hassl-3690	202	27	limitations	limitation	NOUN
hassl-3690	202	28	with	with	ADP
hassl-3690	202	29	a	a	DET
hassl-3690	202	30	small	small	ADJ
hassl-3690	202	31	sample	sample	NOUN
hassl-3690	202	32	size	size	NOUN
hassl-3690	202	33	.	.	PUNCT
hassl-3690	203	1	blundell	blundell	PROPN
hassl-3690	203	2	and	and	CCONJ
hassl-3690	203	3	bond	bond	NOUN
hassl-3690	203	4	(	(	PUNCT
hassl-3690	203	5	2023	2023	NUM
hassl-3690	203	6	)	)	PUNCT
hassl-3690	203	7	stated	state	VERB
hassl-3690	203	8	that	that	SCONJ
hassl-3690	203	9	when	when	SCONJ
hassl-3690	203	10	the	the	DET
hassl-3690	203	11	sample	sample	NOUN
hassl-3690	203	12	size	size	NOUN
hassl-3690	203	13	is	be	AUX
hassl-3690	203	14	small	small	ADJ
hassl-3690	203	15	,	,	PUNCT
hassl-3690	203	16	asymptotic	asymptotic	ADJ
hassl-3690	203	17	standard	standard	ADJ
hassl-3690	203	18	errors	error	NOUN
hassl-3690	203	19	can	can	AUX
hassl-3690	203	20	cause	cause	VERB
hassl-3690	203	21	bias	bias	NOUN
hassl-3690	203	22	.	.	PUNCT
hassl-3690	204	1	one	one	NUM
hassl-3690	204	2	of	of	ADP
hassl-3690	204	3	the	the	DET
hassl-3690	204	4	appropriate	appropriate	ADJ
hassl-3690	204	5	methods	method	NOUN
hassl-3690	204	6	to	to	PART
hassl-3690	204	7	overcome	overcome	VERB
hassl-3690	204	8	this	this	DET
hassl-3690	204	9	bias	bias	NOUN
hassl-3690	204	10	is	be	AUX
hassl-3690	204	11	dynamic	dynamic	ADJ
hassl-3690	204	12	panel	panel	NOUN
hassl-3690	204	13	-	-	PUNCT
hassl-3690	204	14	data	datum	NOUN
hassl-3690	204	15	estimation	estimation	NOUN
hassl-3690	204	16	,	,	PUNCT
hassl-3690	204	17	a	a	DET
hassl-3690	204	18	two	two	NUM
hassl-3690	204	19	-	-	PUNCT
hassl-3690	204	20	step	step	NOUN
hassl-3690	204	21	system	system	NOUN
hassl-3690	204	22	generalized	generalize	VERB
hassl-3690	204	23	method	method	NOUN
hassl-3690	204	24	of	of	ADP
hassl-3690	204	25	moment	moment	NOUN
hassl-3690	204	26	(	(	PUNCT
hassl-3690	204	27	gmm	gmm	NOUN
hassl-3690	204	28	)	)	PUNCT
hassl-3690	204	29	(	(	PUNCT
hassl-3690	204	30	windmeijer	windmeijer	NOUN
hassl-3690	204	31	,	,	PUNCT
hassl-3690	204	32	2005	2005	NUM
hassl-3690	204	33	)	)	PUNCT
hassl-3690	204	34	.	.	PUNCT
hassl-3690	205	1	the	the	DET
hassl-3690	205	2	arrelano	arrelano	NOUN
hassl-3690	205	3	-	-	PUNCT
hassl-3690	205	4	bond	bond	NOUN
hassl-3690	205	5	test	test	NOUN
hassl-3690	205	6	,	,	PUNCT
hassl-3690	205	7	sargan	sargan	VERB
hassl-3690	205	8	test	test	NOUN
hassl-3690	205	9	and	and	CCONJ
hassl-3690	205	10	unbiased	unbiased	ADJ
hassl-3690	205	11	test	test	NOUN
hassl-3690	205	12	are	be	AUX
hassl-3690	205	13	included	include	VERB
hassl-3690	205	14	in	in	ADP
hassl-3690	205	15	the	the	DET
hassl-3690	205	16	two	two	NUM
hassl-3690	205	17	-	-	PUNCT
hassl-3690	205	18	step	step	NOUN
hassl-3690	205	19	generalized	generalize	VERB
hassl-3690	205	20	method	method	NOUN
hassl-3690	205	21	of	of	ADP
hassl-3690	205	22	moment	moment	NOUN
hassl-3690	205	23	(	(	PUNCT
hassl-3690	205	24	gmm	gmm	NOUN
hassl-3690	205	25	)	)	PUNCT
hassl-3690	205	26	approach	approach	NOUN
hassl-3690	205	27	for	for	ADP
hassl-3690	205	28	dynamic	dynamic	ADJ
hassl-3690	205	29	panel	panel	NOUN
hassl-3690	205	30	data	datum	NOUN
hassl-3690	205	31	estimation	estimation	NOUN
hassl-3690	205	32	.	.	PUNCT
hassl-3690	206	1	the	the	DET
hassl-3690	206	2	arrelano	arrelano	NOUN
hassl-3690	206	3	-	-	PUNCT
hassl-3690	206	4	bond	bond	NOUN
hassl-3690	206	5	test	test	NOUN
hassl-3690	206	6	is	be	AUX
hassl-3690	206	7	carried	carry	VERB
hassl-3690	206	8	out	out	ADP
hassl-3690	206	9	to	to	PART
hassl-3690	206	10	test	test	VERB
hassl-3690	206	11	consistency	consistency	NOUN
hassl-3690	206	12	while	while	SCONJ
hassl-3690	206	13	the	the	DET
hassl-3690	206	14	purpose	purpose	NOUN
hassl-3690	206	15	of	of	ADP
hassl-3690	206	16	the	the	DET
hassl-3690	206	17	sargan	sargan	NOUN
hassl-3690	206	18	test	test	NOUN
hassl-3690	206	19	is	be	AUX
hassl-3690	206	20	to	to	PART
hassl-3690	206	21	determine	determine	VERB
hassl-3690	206	22	the	the	DET
hassl-3690	206	23	validity	validity	NOUN
hassl-3690	206	24	of	of	ADP
hassl-3690	206	25	using	use	VERB
hassl-3690	206	26	instrument	instrument	NOUN
hassl-3690	206	27	variables	variable	NOUN
hassl-3690	206	28	that	that	PRON
hassl-3690	206	29	exceed	exceed	VERB
hassl-3690	206	30	the	the	DET
hassl-3690	206	31	number	number	NOUN
hassl-3690	206	32	of	of	ADP
hassl-3690	206	33	estimated	estimate	VERB
hassl-3690	206	34	parameters	parameter	NOUN
hassl-3690	206	35	(	(	PUNCT
hassl-3690	206	36	over	over	ADP
hassl-3690	206	37	identifying	identify	VERB
hassl-3690	206	38	restrictions	restriction	NOUN
hassl-3690	206	39	)	)	PUNCT
hassl-3690	206	40	.	.	PUNCT
hassl-3690	207	1	the	the	DET
hassl-3690	207	2	unbiased	unbiased	ADJ
hassl-3690	207	3	test	test	NOUN
hassl-3690	207	4	is	be	AUX
hassl-3690	207	5	used	use	VERB
hassl-3690	207	6	to	to	PART
hassl-3690	207	7	determine	determine	VERB
hassl-3690	207	8	whether	whether	SCONJ
hassl-3690	207	9	the	the	DET
hassl-3690	207	10	generalized	generalized	ADJ
hassl-3690	207	11	method	method	NOUN
hassl-3690	207	12	of	of	ADP
hassl-3690	207	13	moment	moment	NOUN
hassl-3690	207	14	(	(	PUNCT
hassl-3690	207	15	gmm	gmm	NOUN
hassl-3690	207	16	)	)	PUNCT
hassl-3690	207	17	model	model	NOUN
hassl-3690	207	18	produces	produce	VERB
hassl-3690	207	19	unbiased	unbiased	ADJ
hassl-3690	207	20	estimates	estimate	NOUN
hassl-3690	207	21	.	.	PUNCT
hassl-3690	208	1	according	accord	VERB
hassl-3690	208	2	to	to	ADP
hassl-3690	208	3	panel	panel	NOUN
hassl-3690	208	4	research	research	NOUN
hassl-3690	208	5	data	datum	NOUN
hassl-3690	208	6	by	by	ADP
hassl-3690	208	7	okoyeuzu	okoyeuzu	PROPN
hassl-3690	208	8	,	,	PUNCT
hassl-3690	208	9	ujunwa	ujunwa	PROPN
hassl-3690	208	10	,	,	PUNCT
hassl-3690	208	11	ujunwa	ujunwa	PROPN
hassl-3690	208	12	,	,	PUNCT
hassl-3690	208	13	and	and	CCONJ
hassl-3690	208	14	onah	onah	PROPN
hassl-3690	208	15	(	(	PUNCT
hassl-3690	208	16	2021	2021	NUM
hassl-3690	208	17	)	)	PUNCT
hassl-3690	208	18	that	that	PRON
hassl-3690	208	19	is	be	AUX
hassl-3690	208	20	estimated	estimate	VERB
hassl-3690	208	21	using	use	VERB
hassl-3690	208	22	generalized	generalize	VERB
hassl-3690	208	23	less	less	ADJ
hassl-3690	208	24	square	square	ADJ
hassl-3690	208	25	(	(	PUNCT
hassl-3690	208	26	gls	gls	PROPN
hassl-3690	208	27	)	)	PUNCT
hassl-3690	208	28	,	,	PUNCT
hassl-3690	208	29	a	a	DET
hassl-3690	208	30	statistical	statistical	ADJ
hassl-3690	208	31	panel	panel	NOUN
hassl-3690	208	32	,	,	PUNCT
hassl-3690	208	33	the	the	DET
hassl-3690	208	34	gls	gls	PROPN
hassl-3690	208	35	estimator	estimator	NOUN
hassl-3690	208	36	uses	use	VERB
hassl-3690	208	37	quasi	quasi	ADJ
hassl-3690	208	38	-	-	ADJ
hassl-3690	208	39	demeaned	demeaned	ADJ
hassl-3690	208	40	data	datum	NOUN
hassl-3690	208	41	and	and	CCONJ
hassl-3690	208	42	produces	produce	VERB
hassl-3690	208	43	a	a	DET
hassl-3690	208	44	correlation	correlation	NOUN
hassl-3690	208	45	between	between	ADP
hassl-3690	208	46	the	the	DET
hassl-3690	208	47	dependent	dependent	ADJ
hassl-3690	208	48	variable	variable	NOUN
hassl-3690	208	49	and	and	CCONJ
hassl-3690	208	50	quasi	quasi	ADJ
hassl-3690	208	51	-	-	ADJ
hassl-3690	208	52	demeaned	demeaned	ADJ
hassl-3690	208	53	residuals	residual	NOUN
hassl-3690	208	54	which	which	PRON
hassl-3690	208	55	makes	make	VERB
hassl-3690	208	56	the	the	DET
hassl-3690	208	57	gls	gls	PROPN
hassl-3690	208	58	estimator	estimator	NOUN
hassl-3690	208	59	biased	bias	VERB
hassl-3690	208	60	and	and	CCONJ
hassl-3690	208	61	inconsistent	inconsistent	ADJ
hassl-3690	208	62	and	and	CCONJ
hassl-3690	208	63	leads	lead	VERB
hassl-3690	208	64	to	to	ADP
hassl-3690	208	65	poor	poor	ADJ
hassl-3690	208	66	selection	selection	NOUN
hassl-3690	208	67	.	.	PUNCT
hassl-3690	209	1	the	the	DET
hassl-3690	209	2	right	right	ADJ
hassl-3690	209	3	way	way	NOUN
hassl-3690	209	4	is	be	AUX
hassl-3690	209	5	with	with	ADP
hassl-3690	209	6	a	a	DET
hassl-3690	209	7	system	system	NOUN
hassl-3690	209	8	called	call	VERB
hassl-3690	209	9	the	the	DET
hassl-3690	209	10	generalized	generalized	ADJ
hassl-3690	209	11	method	method	NOUN
hassl-3690	209	12	of	of	ADP
hassl-3690	209	13	moment	moment	NOUN
hassl-3690	209	14	(	(	PUNCT
hassl-3690	209	15	gmm	gmm	NOUN
hassl-3690	209	16	)	)	PUNCT
hassl-3690	209	17	.	.	PUNCT
hassl-3690	210	1	a	a	DET
hassl-3690	210	2	forecast	forecast	NOUN
hassl-3690	210	3	study	study	NOUN
hassl-3690	210	4	using	use	VERB
hassl-3690	210	5	the	the	DET
hassl-3690	210	6	dependent	dependent	ADJ
hassl-3690	210	7	lagged	lag	VERB
hassl-3690	210	8	value	value	NOUN
hassl-3690	210	9	on	on	ADP
hassl-3690	210	10	the	the	DET
hassl-3690	210	11	regressors	regressor	NOUN
hassl-3690	210	12	was	be	AUX
hassl-3690	210	13	used	use	VERB
hassl-3690	210	14	to	to	PART
hassl-3690	210	15	assess	assess	VERB
hassl-3690	210	16	endogeneity	endogeneity	NOUN
hassl-3690	210	17	issues	issue	NOUN
hassl-3690	210	18	resulting	result	VERB
hassl-3690	210	19	from	from	ADP
hassl-3690	210	20	idiosyncratic	idiosyncratic	ADJ
hassl-3690	210	21	risk	risk	NOUN
hassl-3690	210	22	over	over	ADP
hassl-3690	210	23	a	a	DET
hassl-3690	210	24	five	five	NUM
hassl-3690	210	25	-	-	PUNCT
hassl-3690	210	26	year	year	NOUN
hassl-3690	210	27	period	period	NOUN
hassl-3690	210	28	.	.	PUNCT
hassl-3690	211	1	the	the	DET
hassl-3690	211	2	generalized	generalized	ADJ
hassl-3690	211	3	method	method	NOUN
hassl-3690	211	4	of	of	ADP
hassl-3690	211	5	moment	moment	NOUN
hassl-3690	211	6	(	(	PUNCT
hassl-3690	211	7	gmm	gmm	NOUN
hassl-3690	211	8	)	)	PUNCT
hassl-3690	211	9	technique	technique	NOUN
hassl-3690	211	10	was	be	AUX
hassl-3690	211	11	selected	select	VERB
hassl-3690	211	12	due	due	ADP
hassl-3690	211	13	to	to	ADP
hassl-3690	211	14	the	the	DET
hassl-3690	211	15	extended	extended	ADJ
hassl-3690	211	16	research	research	NOUN
hassl-3690	211	17	period	period	NOUN
hassl-3690	211	18	and	and	CCONJ
hassl-3690	211	19	its	its	PRON
hassl-3690	211	20	ability	ability	NOUN
hassl-3690	211	21	to	to	PART
hassl-3690	211	22	eliminate	eliminate	VERB
hassl-3690	211	23	endogeneity	endogeneity	NOUN
hassl-3690	211	24	difficulties	difficulty	NOUN
hassl-3690	211	25	.	.	PUNCT
hassl-3690	212	1	wintoki	wintoki	PROPN
hassl-3690	212	2	,	,	PUNCT
hassl-3690	212	3	linck	linck	PROPN
hassl-3690	212	4	,	,	PUNCT
hassl-3690	212	5	and	and	CCONJ
hassl-3690	212	6	netter	netter	NOUN
hassl-3690	212	7	(	(	PUNCT
hassl-3690	212	8	2012	2012	NUM
hassl-3690	212	9	)	)	PUNCT
hassl-3690	212	10	declare	declare	VERB
hassl-3690	212	11	that	that	SCONJ
hassl-3690	212	12	if	if	SCONJ
hassl-3690	212	13	a	a	DET
hassl-3690	212	14	simultaneous	simultaneous	ADJ
hassl-3690	212	15	link	link	NOUN
hassl-3690	212	16	is	be	AUX
hassl-3690	212	17	established	establish	VERB
hassl-3690	212	18	where	where	SCONJ
hassl-3690	212	19	x	x	PRON
hassl-3690	212	20	influences	influence	VERB
hassl-3690	212	21	y	y	PROPN
hassl-3690	212	22	and	and	CCONJ
hassl-3690	212	23	y	y	PROPN
hassl-3690	212	24	impacts	impact	VERB
hassl-3690	212	25	x	x	PUNCT
hassl-3690	212	26	then	then	ADV
hassl-3690	212	27	the	the	DET
hassl-3690	212	28	endogeneity	endogeneity	NOUN
hassl-3690	212	29	problem	problem	NOUN
hassl-3690	212	30	can	can	AUX
hassl-3690	212	31	not	not	PART
hassl-3690	212	32	be	be	AUX
hassl-3690	212	33	solved	solve	VERB
hassl-3690	212	34	in	in	ADP
hassl-3690	212	35	panel	panel	NOUN
hassl-3690	212	36	data	datum	NOUN
hassl-3690	212	37	estimation	estimation	NOUN
hassl-3690	212	38	using	use	VERB
hassl-3690	212	39	the	the	DET
hassl-3690	212	40	pooled	pooled	ADJ
hassl-3690	212	41	least	least	ADJ
hassl-3690	212	42	squares	square	NOUN
hassl-3690	212	43	,	,	PUNCT
hassl-3690	212	44	fixed	fix	VERB
hassl-3690	212	45	effects	effect	NOUN
hassl-3690	212	46	,	,	PUNCT
hassl-3690	212	47	and	and	CCONJ
hassl-3690	212	48	random	random	ADJ
hassl-3690	212	49	effect	effect	NOUN
hassl-3690	212	50	regression	regression	NOUN
hassl-3690	212	51	methods	method	NOUN
hassl-3690	212	52	.	.	PUNCT
hassl-3690	213	1	therefore	therefore	ADV
hassl-3690	213	2	,	,	PUNCT
hassl-3690	213	3	it	it	PRON
hassl-3690	213	4	is	be	AUX
hassl-3690	213	5	necessary	necessary	ADJ
hassl-3690	213	6	to	to	PART
hassl-3690	213	7	test	test	VERB
hassl-3690	213	8	the	the	DET
hassl-3690	213	9	instrumental	instrumental	ADJ
hassl-3690	213	10	variables	variable	NOUN
hassl-3690	213	11	in	in	ADP
hassl-3690	213	12	solving	solve	VERB
hassl-3690	213	13	this	this	DET
hassl-3690	213	14	simultaneous	simultaneous	ADJ
hassl-3690	213	15	problem	problem	NOUN
hassl-3690	213	16	.	.	PUNCT
hassl-3690	214	1	however	however	ADV
hassl-3690	214	2	,	,	PUNCT
hassl-3690	214	3	this	this	DET
hassl-3690	214	4	approach	approach	NOUN
hassl-3690	214	5	has	have	VERB
hassl-3690	214	6	the	the	DET
hassl-3690	214	7	disadvantage	disadvantage	NOUN
hassl-3690	214	8	that	that	SCONJ
hassl-3690	214	9	it	it	PRON
hassl-3690	214	10	can	can	AUX
hassl-3690	214	11	produce	produce	VERB
hassl-3690	214	12	bias	bias	NOUN
hassl-3690	214	13	in	in	ADP
hassl-3690	214	14	limited	limited	ADJ
hassl-3690	214	15	sample	sample	NOUN
hassl-3690	214	16	sizes	size	NOUN
hassl-3690	214	17	(	(	PUNCT
hassl-3690	214	18	blundell	blundell	PROPN
hassl-3690	214	19	&	&	CCONJ
hassl-3690	214	20	bond	bond	PROPN
hassl-3690	214	21	,	,	PUNCT
hassl-3690	214	22	2023	2023	NUM
hassl-3690	214	23	)	)	PUNCT
hassl-3690	214	24	so	so	SCONJ
hassl-3690	214	25	it	it	PRON
hassl-3690	214	26	needs	need	VERB
hassl-3690	214	27	to	to	PART
hassl-3690	214	28	be	be	AUX
hassl-3690	214	29	estimated	estimate	VERB
hassl-3690	214	30	using	use	VERB
hassl-3690	214	31	the	the	DET
hassl-3690	214	32	generalized	generalized	ADJ
hassl-3690	214	33	method	method	NOUN
hassl-3690	214	34	of	of	ADP
hassl-3690	214	35	moment	moment	NOUN
hassl-3690	214	36	(	(	PUNCT
hassl-3690	214	37	gmm	gmm	NOUN
hassl-3690	214	38	)	)	PUNCT
hassl-3690	214	39	.	.	PUNCT
hassl-3690	215	1	equations	equation	NOUN
hassl-3690	215	2	6	6	NUM
hassl-3690	215	3	and	and	CCONJ
hassl-3690	215	4	7	7	NUM
hassl-3690	215	5	examine	examine	VERB
hassl-3690	215	6	the	the	DET
hassl-3690	215	7	direct	direct	ADJ
hassl-3690	215	8	relationship	relationship	NOUN
hassl-3690	215	9	between	between	ADP
hassl-3690	215	10	large	large	ADJ
hassl-3690	215	11	shareholders	shareholder	NOUN
hassl-3690	215	12	,	,	PUNCT
hassl-3690	215	13	multiple	multiple	ADJ
hassl-3690	215	14	directorships	directorship	NOUN
hassl-3690	215	15	and	and	CCONJ
hassl-3690	215	16	idiosyncratic	idiosyncratic	ADJ
hassl-3690	215	17	risk	risk	NOUN
hassl-3690	215	18	.	.	PUNCT
hassl-3690	216	1	meanwhile	meanwhile	ADV
hassl-3690	216	2	,	,	PUNCT
hassl-3690	216	3	equation	equation	NOUN
hassl-3690	216	4	8	8	NUM
hassl-3690	216	5	examines	examine	VERB
hassl-3690	216	6	the	the	DET
hassl-3690	216	7	relationship	relationship	NOUN
hassl-3690	216	8	between	between	ADP
hassl-3690	216	9	moderating	moderate	VERB
hassl-3690	216	10	variables	variable	NOUN
hassl-3690	216	11	.	.	PUNCT
hassl-3690	217	1	equation	equation	NOUN
hassl-3690	217	2	9	9	NUM
hassl-3690	217	3	examines	examine	VERB
hassl-3690	217	4	all	all	DET
hassl-3690	217	5	variables	variable	NOUN
hassl-3690	217	6	in	in	ADP
hassl-3690	217	7	the	the	DET
hassl-3690	217	8	research	research	NOUN
hassl-3690	217	9	.	.	PUNCT
hassl-3690	218	1	𝐼𝑅𝑖	𝐼𝑅𝑖	PROPN
hassl-3690	218	2	,	,	PUNCT
hassl-3690	218	3	𝑡	𝑡	PROPN
hassl-3690	218	4	=	=	VERB
hassl-3690	218	5			X
hassl-3690	218	6	+	+	NOUN
hassl-3690	218	7			PROPN
hassl-3690	218	8	1	1	NUM
hassl-3690	218	9	𝐼𝑅𝑖	𝐼𝑅𝑖	NOUN
hassl-3690	218	10	,	,	PUNCT
hassl-3690	218	11	𝑡−1	𝑡−1	PROPN
hassl-3690	218	12	+	+	CCONJ
hassl-3690	218	13			PROPN
hassl-3690	218	14	2	2	NUM
hassl-3690	218	15	𝐿𝑆𝑖,𝑡	𝐿𝑆𝑖,𝑡	PROPN
hassl-3690	218	16	−1	−1	NOUN
hassl-3690	218	17	+	+	NOUN
hassl-3690	218	18			PROPN
hassl-3690	218	19	3	3	NUM
hassl-3690	218	20	𝑆𝐼𝑍𝐸𝑖	𝑆𝐼𝑍𝐸𝑖	PROPN
hassl-3690	218	21	,	,	PUNCT
hassl-3690	218	22	𝑡−1	𝑡−1	PROPN
hassl-3690	218	23	+	+	PROPN
hassl-3690	218	24			PROPN
hassl-3690	218	25	4	4	NUM
hassl-3690	218	26	𝐴𝐺𝐸𝑖	𝐴𝐺𝐸𝑖	NOUN
hassl-3690	218	27	,	,	PUNCT
hassl-3690	218	28	𝑡−1	𝑡−1	PROPN
hassl-3690	218	29	+	+	CCONJ
hassl-3690	218	30			PROPN
hassl-3690	218	31	5	5	NUM
hassl-3690	218	32	𝐿𝐸𝑉𝑖	𝐿𝐸𝑉𝑖	PROPN
hassl-3690	218	33	,	,	PUNCT
hassl-3690	218	34	𝑡−1	𝑡−1	PROPN
hassl-3690	218	35	+	+	CCONJ
hassl-3690	218	36			PROPN
hassl-3690	218	37	6	6	NUM
hassl-3690	218	38	𝑅𝑂𝐴𝑖	𝑅𝑂𝐴𝑖	PROPN
hassl-3690	218	39	,	,	PUNCT
hassl-3690	218	40	𝑡−1	𝑡−1	PROPN
hassl-3690	218	41	+	+	CCONJ
hassl-3690	218	42			PROPN
hassl-3690	218	43	7	7	NUM
hassl-3690	218	44	𝑉𝑇𝑖	𝑉𝑇𝑖	NOUN
hassl-3690	218	45	,	,	PUNCT
hassl-3690	218	46	𝑡	𝑡	X
hassl-3690	218	47	−1	−1	NOUN
hassl-3690	218	48	+	+	CCONJ
hassl-3690	218	49			PROPN
hassl-3690	218	50	7	7	NUM
hassl-3690	218	51	𝐼𝑁𝐷𝑇𝑖,𝑡	𝐼𝑁𝐷𝑇𝑖,𝑡	NOUN
hassl-3690	218	52	−1	−1	NOUN
hassl-3690	218	53	+	+	CCONJ
hassl-3690	218	54			PROPN
hassl-3690	218	55	𝑖	𝑖	SYM
hassl-3690	218	56	,	,	PUNCT
hassl-3690	218	57	𝑡	𝑡	X
hassl-3690	218	58	(	(	PUNCT
hassl-3690	218	59	6	6	NUM
hassl-3690	218	60	)	)	PUNCT
hassl-3690	218	61	humanities	humanity	NOUN
hassl-3690	218	62	and	and	CCONJ
hassl-3690	218	63	social	social	ADJ
hassl-3690	218	64	sciences	science	NOUN
hassl-3690	218	65	letters	letter	NOUN
hassl-3690	218	66	,	,	PUNCT
hassl-3690	218	67	2024	2024	NUM
hassl-3690	218	68	,	,	PUNCT
hassl-3690	218	69	12(2	12(2	NUM
hassl-3690	218	70	):	):	PUNCT
hassl-3690	218	71	218	218	NUM
hassl-3690	218	72	-	-	SYM
hassl-3690	218	73	232	232	NUM
hassl-3690	218	74	225	225	NUM
hassl-3690	218	75	©	©	PROPN
hassl-3690	218	76	2024	2024	NUM
hassl-3690	218	77	conscientia	conscientia	PROPN
hassl-3690	218	78	beam	beam	PROPN
hassl-3690	218	79	.	.	PUNCT
hassl-3690	219	1	all	all	DET
hassl-3690	219	2	rights	right	NOUN
hassl-3690	219	3	reserved	reserve	VERB
hassl-3690	219	4	.	.	PUNCT
hassl-3690	220	1	𝐼𝑅𝑖	𝐼𝑅𝑖	PROPN
hassl-3690	220	2	,	,	PUNCT
hassl-3690	220	3	𝑡	𝑡	PROPN
hassl-3690	220	4	=	=	VERB
hassl-3690	220	5			X
hassl-3690	220	6	+	+	NOUN
hassl-3690	220	7			PROPN
hassl-3690	220	8	1	1	NUM
hassl-3690	220	9	𝐼𝑅𝑖	𝐼𝑅𝑖	NOUN
hassl-3690	220	10	,	,	PUNCT
hassl-3690	220	11	𝑡−1	𝑡−1	PROPN
hassl-3690	220	12	+	+	CCONJ
hassl-3690	220	13			PROPN
hassl-3690	220	14	2	2	NUM
hassl-3690	220	15	𝑀𝐷𝑖	𝑀𝐷𝑖	NOUN
hassl-3690	220	16	,	,	PUNCT
hassl-3690	220	17	𝑡−1	𝑡−1	PROPN
hassl-3690	220	18	+	+	CCONJ
hassl-3690	220	19			PROPN
hassl-3690	220	20	3	3	NUM
hassl-3690	220	21	𝑆𝐼𝑍𝐸𝑖	𝑆𝐼𝑍𝐸𝑖	PROPN
hassl-3690	220	22	,	,	PUNCT
hassl-3690	220	23	𝑡−1	𝑡−1	PROPN
hassl-3690	220	24	+	+	PROPN
hassl-3690	220	25			PROPN
hassl-3690	220	26	4	4	NUM
hassl-3690	220	27	𝐴𝐺𝐸𝑖	𝐴𝐺𝐸𝑖	NOUN
hassl-3690	220	28	,	,	PUNCT
hassl-3690	220	29	𝑡	𝑡	NOUN
hassl-3690	220	30	−1	−1	NOUN
hassl-3690	220	31	+	+	CCONJ
hassl-3690	220	32			PROPN
hassl-3690	220	33	5	5	NUM
hassl-3690	220	34	𝐿𝐸𝑉𝑖	𝐿𝐸𝑉𝑖	PROPN
hassl-3690	220	35	,	,	PUNCT
hassl-3690	220	36	𝑡−1	𝑡−1	PROPN
hassl-3690	220	37	+	+	CCONJ
hassl-3690	220	38			PROPN
hassl-3690	220	39	6	6	NUM
hassl-3690	220	40	𝑅𝑂𝐴𝑖	𝑅𝑂𝐴𝑖	PROPN
hassl-3690	220	41	,	,	PUNCT
hassl-3690	220	42	𝑡−1	𝑡−1	PROPN
hassl-3690	220	43	+	+	CCONJ
hassl-3690	220	44			PROPN
hassl-3690	220	45	7	7	NUM
hassl-3690	220	46	𝑉𝑇𝑖	𝑉𝑇𝑖	NOUN
hassl-3690	220	47	,	,	PUNCT
hassl-3690	220	48	𝑡−1	𝑡−1	PROPN
hassl-3690	220	49	+	+	CCONJ
hassl-3690	220	50			PROPN
hassl-3690	220	51	7	7	NUM
hassl-3690	220	52	𝐼𝑁𝐷𝑇𝑖,𝑡	𝐼𝑁𝐷𝑇𝑖,𝑡	NOUN
hassl-3690	220	53	−1	−1	NOUN
hassl-3690	220	54	+	+	CCONJ
hassl-3690	220	55			PROPN
hassl-3690	220	56	𝑖	𝑖	SYM
hassl-3690	220	57	,	,	PUNCT
hassl-3690	220	58	𝑡	𝑡	X
hassl-3690	220	59	(	(	PUNCT
hassl-3690	220	60	7	7	NUM
hassl-3690	220	61	)	)	PUNCT
hassl-3690	220	62	𝐼𝑅𝑖	𝐼𝑅𝑖	NOUN
hassl-3690	220	63	,	,	PUNCT
hassl-3690	220	64	𝑡	𝑡	X
hassl-3690	220	65	=	=	VERB
hassl-3690	220	66			X
hassl-3690	220	67	+	+	NOUN
hassl-3690	220	68			PROPN
hassl-3690	220	69	1	1	NUM
hassl-3690	220	70	𝐼𝑅𝑖	𝐼𝑅𝑖	NOUN
hassl-3690	220	71	,	,	PUNCT
hassl-3690	220	72	𝑡−1	𝑡−1	PROPN
hassl-3690	220	73	+	+	CCONJ
hassl-3690	220	74			PROPN
hassl-3690	220	75	2	2	NUM
hassl-3690	220	76	𝐿𝑆𝑖,𝑡	𝐿𝑆𝑖,𝑡	PROPN
hassl-3690	220	77	−1+	−1+	ADP
hassl-3690	220	78	3	3	NUM
hassl-3690	220	79	𝐿𝑆𝑖,𝑡−1	𝐿𝑆𝑖,𝑡−1	NOUN
hassl-3690	220	80	∗	∗	NOUN
hassl-3690	220	81	𝑀𝐷	𝑀𝐷	PROPN
hassl-3690	221	1	+	+	CCONJ
hassl-3690	221	2			PROPN
hassl-3690	221	3	4	4	NUM
hassl-3690	221	4	𝑆𝐼𝑍𝐸𝑖	𝑆𝐼𝑍𝐸𝑖	PROPN
hassl-3690	221	5	,	,	PUNCT
hassl-3690	221	6	𝑡−1	𝑡−1	PROPN
hassl-3690	221	7	+	+	PROPN
hassl-3690	221	8			PROPN
hassl-3690	221	9	5	5	NUM
hassl-3690	221	10	𝐴𝐺𝐸𝑖	𝐴𝐺𝐸𝑖	NOUN
hassl-3690	221	11	,	,	PUNCT
hassl-3690	221	12	𝑡−1	𝑡−1	PROPN
hassl-3690	221	13	+	+	CCONJ
hassl-3690	221	14			PROPN
hassl-3690	221	15	6	6	NUM
hassl-3690	221	16	𝐿𝐸𝑉𝑖	𝐿𝐸𝑉𝑖	PROPN
hassl-3690	221	17	,	,	PUNCT
hassl-3690	221	18	𝑡−1	𝑡−1	PROPN
hassl-3690	221	19	+	+	CCONJ
hassl-3690	221	20			PROPN
hassl-3690	221	21	7	7	NUM
hassl-3690	221	22	𝑅𝑂𝐴𝑖	𝑅𝑂𝐴𝑖	PROPN
hassl-3690	221	23	,	,	PUNCT
hassl-3690	221	24	𝑡	𝑡	NOUN
hassl-3690	221	25	−1	−1	NOUN
hassl-3690	221	26	+	+	CCONJ
hassl-3690	221	27			PROPN
hassl-3690	221	28	8	8	NUM
hassl-3690	221	29	𝑉𝑇𝑖	𝑉𝑇𝑖	NOUN
hassl-3690	221	30	,	,	PUNCT
hassl-3690	221	31	𝑡−1	𝑡−1	PROPN
hassl-3690	221	32	+	+	CCONJ
hassl-3690	221	33			PROPN
hassl-3690	221	34	9	9	NUM
hassl-3690	221	35	𝐼𝑁𝐷𝑇𝑖	𝐼𝑁𝐷𝑇𝑖	NOUN
hassl-3690	221	36	,	,	PUNCT
hassl-3690	221	37	𝑡−1	𝑡−1	PROPN
hassl-3690	221	38	+	+	CCONJ
hassl-3690	221	39			PROPN
hassl-3690	221	40	𝑖,𝑡	𝑖,𝑡	NOUN
hassl-3690	221	41	(	(	PUNCT
hassl-3690	221	42	8)	8)	NUM
hassl-3690	221	43	𝐼𝑅𝑖	𝐼𝑅𝑖	NOUN
hassl-3690	221	44	,	,	PUNCT
hassl-3690	221	45	𝑡	𝑡	PROPN
hassl-3690	221	46	=	=	VERB
hassl-3690	221	47			X
hassl-3690	221	48	+	+	NOUN
hassl-3690	221	49			PROPN
hassl-3690	221	50	1	1	NUM
hassl-3690	221	51	𝐼𝑅𝑖	𝐼𝑅𝑖	NOUN
hassl-3690	221	52	,	,	PUNCT
hassl-3690	221	53	𝑡−1	𝑡−1	PROPN
hassl-3690	221	54	+	+	CCONJ
hassl-3690	221	55			PROPN
hassl-3690	221	56	2	2	NUM
hassl-3690	221	57	𝐿𝑆𝑖,𝑡	𝐿𝑆𝑖,𝑡	PROPN
hassl-3690	221	58	−1+	−1+	ADP
hassl-3690	221	59	3	3	NUM
hassl-3690	221	60	𝑀𝐷𝑖	𝑀𝐷𝑖	NOUN
hassl-3690	221	61	,	,	PUNCT
hassl-3690	221	62	𝑡−1	𝑡−1	PROPN
hassl-3690	221	63	+	+	CCONJ
hassl-3690	221	64			PROPN
hassl-3690	221	65	4	4	NUM
hassl-3690	221	66	𝐿𝑆𝑖,𝑡	𝐿𝑆𝑖,𝑡	PROPN
hassl-3690	221	67	−1	−1	NOUN
hassl-3690	221	68	∗	∗	NOUN
hassl-3690	221	69	𝑀𝐷	𝑀𝐷	PROPN
hassl-3690	222	1	+	+	CCONJ
hassl-3690	222	2			PROPN
hassl-3690	222	3	5	5	NUM
hassl-3690	222	4	𝑆𝐼𝑍𝐸𝑖	𝑆𝐼𝑍𝐸𝑖	PROPN
hassl-3690	222	5	,	,	PUNCT
hassl-3690	222	6	𝑡−1	𝑡−1	PROPN
hassl-3690	222	7	+	+	PROPN
hassl-3690	222	8			PROPN
hassl-3690	222	9	6	6	NUM
hassl-3690	222	10	𝐴𝐺𝐸𝑖	𝐴𝐺𝐸𝑖	NOUN
hassl-3690	222	11	,	,	PUNCT
hassl-3690	222	12	𝑡	𝑡	NOUN
hassl-3690	222	13	−1	−1	NOUN
hassl-3690	222	14	+	+	CCONJ
hassl-3690	222	15			PROPN
hassl-3690	222	16	7	7	NUM
hassl-3690	222	17	𝐿𝐸𝑉𝑖	𝐿𝐸𝑉𝑖	PROPN
hassl-3690	222	18	,	,	PUNCT
hassl-3690	222	19	𝑡−1	𝑡−1	PROPN
hassl-3690	222	20	+	+	CCONJ
hassl-3690	222	21			PROPN
hassl-3690	222	22	8	8	NUM
hassl-3690	222	23	𝑅𝑂𝐴𝑖	𝑅𝑂𝐴𝑖	PROPN
hassl-3690	222	24	,	,	PUNCT
hassl-3690	222	25	𝑡−1	𝑡−1	PROPN
hassl-3690	222	26	+	+	CCONJ
hassl-3690	222	27			PROPN
hassl-3690	222	28	9	9	NUM
hassl-3690	222	29	𝑉𝑇𝑖	𝑉𝑇𝑖	NOUN
hassl-3690	222	30	,	,	PUNCT
hassl-3690	222	31	𝑡−1	𝑡−1	PROPN
hassl-3690	222	32	+	+	CCONJ
hassl-3690	222	33			PROPN
hassl-3690	222	34	10	10	NUM
hassl-3690	222	35	𝐼𝑁𝐷𝑇𝑖	𝐼𝑁𝐷𝑇𝑖	NOUN
hassl-3690	222	36	,	,	PUNCT
hassl-3690	222	37	𝑡−1	𝑡−1	PROPN
hassl-3690	222	38	+	+	CCONJ
hassl-3690	222	39			PROPN
hassl-3690	222	40	𝑖,𝑡	𝑖,𝑡	NOUN
hassl-3690	222	41	(	(	PUNCT
hassl-3690	222	42	9	9	NUM
hassl-3690	222	43	)	)	PUNCT
hassl-3690	222	44	𝐼𝑅𝑖	𝐼𝑅𝑖	NOUN
hassl-3690	222	45	,	,	PUNCT
hassl-3690	222	46	𝑡	𝑡	X
hassl-3690	222	47	:	:	PUNCT
hassl-3690	222	48	idiosyncratic	idiosyncratic	ADJ
hassl-3690	222	49	risk	risk	NOUN
hassl-3690	222	50	is	be	AUX
hassl-3690	222	51	the	the	DET
hassl-3690	222	52	risk	risk	NOUN
hassl-3690	222	53	of	of	ADP
hassl-3690	222	54	a	a	DET
hassl-3690	222	55	company	company	NOUN
hassl-3690	222	56	i	i	PRON
hassl-3690	222	57	at	at	ADP
hassl-3690	222	58	the	the	DET
hassl-3690	222	59	end	end	NOUN
hassl-3690	222	60	of	of	ADP
hassl-3690	222	61	period	period	NOUN
hassl-3690	222	62	t.	t.	PROPN
hassl-3690	222	63	𝐼𝑅𝑖	𝐼𝑅𝑖	PROPN
hassl-3690	222	64	,	,	PUNCT
hassl-3690	222	65	𝑡−1	𝑡−1	PROPN
hassl-3690	222	66	:	:	PUNCT
hassl-3690	222	67	idiosyncratic	idiosyncratic	ADJ
hassl-3690	222	68	risk	risk	NOUN
hassl-3690	222	69	is	be	AUX
hassl-3690	222	70	the	the	DET
hassl-3690	222	71	risk	risk	NOUN
hassl-3690	222	72	of	of	ADP
hassl-3690	222	73	a	a	DET
hassl-3690	222	74	company	company	NOUN
hassl-3690	222	75	i	i	PRON
hassl-3690	222	76	at	at	ADP
hassl-3690	222	77	the	the	DET
hassl-3690	222	78	end	end	NOUN
hassl-3690	222	79	of	of	ADP
hassl-3690	222	80	period	period	NOUN
hassl-3690	222	81	t-1	t-1	PROPN
hassl-3690	222	82	.	.	PUNCT
hassl-3690	223	1	lsi	lsi	PROPN
hassl-3690	223	2	,	,	PUNCT
hassl-3690	223	3	t−1	t−1	PROPN
hassl-3690	223	4	:	:	PUNCT
hassl-3690	223	5	large	large	ADJ
hassl-3690	223	6	shareholders	shareholder	NOUN
hassl-3690	223	7	of	of	ADP
hassl-3690	223	8	a	a	DET
hassl-3690	223	9	company	company	NOUN
hassl-3690	223	10	i	i	PRON
hassl-3690	223	11	at	at	ADP
hassl-3690	223	12	the	the	DET
hassl-3690	223	13	end	end	NOUN
hassl-3690	223	14	of	of	ADP
hassl-3690	223	15	period	period	NOUN
hassl-3690	223	16	t-1	t-1	PROPN
hassl-3690	223	17	.	.	PUNCT
hassl-3690	224	1	𝑀𝐷𝑖	𝑀𝐷𝑖	PROPN
hassl-3690	224	2	,	,	PUNCT
hassl-3690	224	3	𝑡	𝑡	X
hassl-3690	224	4	−1	−1	NOUN
hassl-3690	224	5	:	:	PUNCT
hassl-3690	224	6	multiple	multiple	ADJ
hassl-3690	224	7	directorships	directorship	NOUN
hassl-3690	224	8	of	of	ADP
hassl-3690	224	9	a	a	DET
hassl-3690	224	10	company	company	NOUN
hassl-3690	224	11	i	i	PRON
hassl-3690	224	12	at	at	ADP
hassl-3690	224	13	the	the	DET
hassl-3690	224	14	end	end	NOUN
hassl-3690	224	15	of	of	ADP
hassl-3690	224	16	the	the	DET
hassl-3690	224	17	t-1	t-1	PROPN
hassl-3690	224	18	period	period	NOUN
hassl-3690	224	19	.	.	PUNCT
hassl-3690	225	1	𝑆𝐼𝑍𝐸𝑖	𝑆𝐼𝑍𝐸𝑖	PROPN
hassl-3690	225	2	,	,	PUNCT
hassl-3690	225	3	𝑡−1	𝑡−1	PROPN
hassl-3690	225	4	:	:	PUNCT
hassl-3690	225	5	the	the	DET
hassl-3690	225	6	company	company	NOUN
hassl-3690	225	7	size	size	NOUN
hassl-3690	225	8	in	in	ADP
hassl-3690	225	9	company	company	NOUN
hassl-3690	225	10	i	i	PRON
hassl-3690	225	11	up	up	ADP
hassl-3690	225	12	to	to	ADP
hassl-3690	225	13	the	the	DET
hassl-3690	225	14	end	end	NOUN
hassl-3690	225	15	of	of	ADP
hassl-3690	225	16	the	the	DET
hassl-3690	225	17	t-1	t-1	PROPN
hassl-3690	225	18	period	period	NOUN
hassl-3690	225	19	.	.	PUNCT
hassl-3690	226	1	𝐴𝐺𝐸𝑖	𝐴𝐺𝐸𝑖	NOUN
hassl-3690	226	2	,	,	PUNCT
hassl-3690	226	3	𝑡−1	𝑡−1	PROPN
hassl-3690	226	4	:	:	PUNCT
hassl-3690	226	5	the	the	DET
hassl-3690	226	6	company	company	NOUN
hassl-3690	226	7	's	's	PART
hassl-3690	226	8	age	age	NOUN
hassl-3690	226	9	in	in	ADP
hassl-3690	226	10	company	company	NOUN
hassl-3690	226	11	i	i	PRON
hassl-3690	226	12	up	up	ADP
hassl-3690	226	13	to	to	ADP
hassl-3690	226	14	the	the	DET
hassl-3690	226	15	end	end	NOUN
hassl-3690	226	16	of	of	ADP
hassl-3690	226	17	the	the	DET
hassl-3690	226	18	t-1	t-1	PROPN
hassl-3690	226	19	period	period	NOUN
hassl-3690	226	20	.	.	PUNCT
hassl-3690	227	1	𝐿𝐸𝑉𝑖	𝐿𝐸𝑉𝑖	PROPN
hassl-3690	227	2	,	,	PUNCT
hassl-3690	227	3	𝑡−1	𝑡−1	PROPN
hassl-3690	227	4	:	:	PUNCT
hassl-3690	227	5	leverage	leverage	NOUN
hassl-3690	227	6	on	on	ADP
hassl-3690	227	7	the	the	DET
hassl-3690	227	8	company	company	NOUN
hassl-3690	227	9	i	i	PRON
hassl-3690	227	10	until	until	ADP
hassl-3690	227	11	the	the	DET
hassl-3690	227	12	end	end	NOUN
hassl-3690	227	13	of	of	ADP
hassl-3690	227	14	period	period	NOUN
hassl-3690	227	15	t-1	t-1	PROPN
hassl-3690	227	16	.	.	PUNCT
hassl-3690	228	1	𝑅𝑂𝐴𝑖	𝑅𝑂𝐴𝑖	PROPN
hassl-3690	228	2	,	,	PUNCT
hassl-3690	228	3	𝑡−1	𝑡−1	PROPN
hassl-3690	228	4	:	:	PUNCT
hassl-3690	228	5	return	return	VERB
hassl-3690	228	6	on	on	ADP
hassl-3690	228	7	assets	asset	NOUN
hassl-3690	228	8	for	for	ADP
hassl-3690	228	9	the	the	DET
hassl-3690	228	10	company	company	NOUN
hassl-3690	228	11	i	i	PRON
hassl-3690	228	12	until	until	ADP
hassl-3690	228	13	the	the	DET
hassl-3690	228	14	end	end	NOUN
hassl-3690	228	15	of	of	ADP
hassl-3690	228	16	period	period	NOUN
hassl-3690	228	17	t-1	t-1	PROPN
hassl-3690	228	18	.	.	PUNCT
hassl-3690	229	1	𝑉𝑇𝑖	𝑉𝑇𝑖	PROPN
hassl-3690	229	2	,	,	PUNCT
hassl-3690	229	3	𝑡	𝑡	X
hassl-3690	229	4	−1	−1	NOUN
hassl-3690	229	5	:	:	PUNCT
hassl-3690	229	6	volume	volume	NOUN
hassl-3690	229	7	turnover	turnover	NOUN
hassl-3690	229	8	of	of	ADP
hassl-3690	229	9	the	the	DET
hassl-3690	229	10	company	company	NOUN
hassl-3690	229	11	i	i	PRON
hassl-3690	229	12	until	until	ADP
hassl-3690	229	13	the	the	DET
hassl-3690	229	14	end	end	NOUN
hassl-3690	229	15	of	of	ADP
hassl-3690	229	16	period	period	NOUN
hassl-3690	229	17	t-1	t-1	PROPN
hassl-3690	229	18	.	.	PUNCT
hassl-3690	230	1	𝐼𝑁𝐷𝑇𝑖	𝐼𝑁𝐷𝑇𝑖	NOUN
hassl-3690	230	2	,	,	PUNCT
hassl-3690	230	3	𝑡−1	𝑡−1	PROPN
hassl-3690	230	4	:	:	PUNCT
hassl-3690	230	5	dummy	dummy	ADJ
hassl-3690	230	6	variable	variable	NOUN
hassl-3690	230	7	,	,	PUNCT
hassl-3690	230	8	manufacturing	manufacturing	NOUN
hassl-3690	230	9	company	company	NOUN
hassl-3690	230	10	:	:	PUNCT
hassl-3690	230	11	1	1	NUM
hassl-3690	230	12	and	and	CCONJ
hassl-3690	230	13	non	non	ADJ
hassl-3690	230	14	-	-	ADJ
hassl-3690	230	15	manufacturing	manufacturing	ADJ
hassl-3690	230	16	:	:	PUNCT
hassl-3690	230	17	0	0	NUM
hassl-3690	230	18	.	.	NOUN
hassl-3690	230	19			NOUN
hassl-3690	230	20	:	:	PUNCT
hassl-3690	230	21	constant	constant	ADJ
hassl-3690	230	22	.	.	PUNCT
hassl-3690	231	1	β	β	NOUN
hassl-3690	231	2	:	:	PUNCT
hassl-3690	232	1	the	the	DET
hassl-3690	232	2	coefficients	coefficient	NOUN
hassl-3690	232	3	of	of	ADP
hassl-3690	232	4	the	the	DET
hassl-3690	232	5	explanatory	explanatory	ADJ
hassl-3690	232	6	variables	variable	NOUN
hassl-3690	232	7	.	.	PUNCT
hassl-3690	233	1	𝑖,𝑡	𝑖,𝑡	NOUN
hassl-3690	233	2	:	:	PUNCT
hassl-3690	233	3	residual	residual	ADJ
hassl-3690	233	4	as	as	ADP
hassl-3690	233	5	idiosyncratic	idiosyncratic	ADJ
hassl-3690	233	6	risk	risk	NOUN
hassl-3690	233	7	.	.	PUNCT
hassl-3690	234	1	4	4	X
hassl-3690	234	2	.	.	NOUN
hassl-3690	234	3	results	result	VERB
hassl-3690	234	4	4.1	4.1	NUM
hassl-3690	234	5	.	.	PUNCT
hassl-3690	235	1	descriptive	descriptive	ADJ
hassl-3690	235	2	statistics	statistic	NOUN
hassl-3690	235	3	table	table	NOUN
hassl-3690	235	4	1	1	NUM
hassl-3690	235	5	provides	provide	VERB
hassl-3690	235	6	descriptive	descriptive	ADJ
hassl-3690	235	7	information	information	NOUN
hassl-3690	235	8	.	.	PUNCT
hassl-3690	236	1	idiosyncratic	idiosyncratic	ADJ
hassl-3690	236	2	risk	risk	NOUN
hassl-3690	236	3	is	be	AUX
hassl-3690	236	4	the	the	DET
hassl-3690	236	5	dependent	dependent	ADJ
hassl-3690	236	6	variable	variable	NOUN
hassl-3690	236	7	in	in	ADP
hassl-3690	236	8	this	this	DET
hassl-3690	236	9	research	research	NOUN
hassl-3690	236	10	.	.	PUNCT
hassl-3690	237	1	the	the	DET
hassl-3690	237	2	residual	residual	ADJ
hassl-3690	237	3	standard	standard	ADJ
hassl-3690	237	4	deviation	deviation	NOUN
hassl-3690	237	5	of	of	ADP
hassl-3690	237	6	the	the	DET
hassl-3690	237	7	annualized	annualize	VERB
hassl-3690	237	8	daily	daily	ADJ
hassl-3690	237	9	stock	stock	NOUN
hassl-3690	237	10	price	price	NOUN
hassl-3690	237	11	data	datum	NOUN
hassl-3690	237	12	serves	serve	VERB
hassl-3690	237	13	as	as	ADP
hassl-3690	237	14	a	a	DET
hassl-3690	237	15	proxy	proxy	NOUN
hassl-3690	237	16	for	for	ADP
hassl-3690	237	17	idiosyncratic	idiosyncratic	ADJ
hassl-3690	237	18	risk	risk	NOUN
hassl-3690	237	19	(	(	PUNCT
hassl-3690	237	20	nadeem	nadeem	PROPN
hassl-3690	237	21	et	et	PROPN
hassl-3690	237	22	al	al	PROPN
hassl-3690	237	23	.	.	PROPN
hassl-3690	237	24	,	,	PUNCT
hassl-3690	237	25	2019	2019	NUM
hassl-3690	237	26	)	)	PUNCT
hassl-3690	237	27	.	.	PUNCT
hassl-3690	238	1	the	the	DET
hassl-3690	238	2	spread	spread	NOUN
hassl-3690	238	3	of	of	ADP
hassl-3690	238	4	the	the	DET
hassl-3690	238	5	data	datum	NOUN
hassl-3690	238	6	is	be	AUX
hassl-3690	238	7	seen	see	VERB
hassl-3690	238	8	from	from	ADP
hassl-3690	238	9	the	the	DET
hassl-3690	238	10	standard	standard	ADJ
hassl-3690	238	11	deviation	deviation	NOUN
hassl-3690	238	12	.	.	PUNCT
hassl-3690	239	1	for	for	ADP
hassl-3690	239	2	idiosyncratic	idiosyncratic	ADJ
hassl-3690	239	3	risk	risk	NOUN
hassl-3690	239	4	it	it	PRON
hassl-3690	239	5	has	have	VERB
hassl-3690	239	6	a	a	DET
hassl-3690	239	7	standard	standard	ADJ
hassl-3690	239	8	deviation	deviation	NOUN
hassl-3690	239	9	of	of	ADP
hassl-3690	239	10	0.038	0.038	NUM
hassl-3690	239	11	.	.	PUNCT
hassl-3690	240	1	the	the	DET
hassl-3690	240	2	average	average	ADJ
hassl-3690	240	3	value	value	NOUN
hassl-3690	240	4	(	(	PUNCT
hassl-3690	240	5	mean	mean	NOUN
hassl-3690	240	6	)	)	PUNCT
hassl-3690	240	7	shows	show	VERB
hassl-3690	240	8	0.043	0.043	NUM
hassl-3690	240	9	which	which	PRON
hassl-3690	240	10	is	be	AUX
hassl-3690	240	11	on	on	ADP
hassl-3690	240	12	a	a	DET
hassl-3690	240	13	percentage	percentage	NOUN
hassl-3690	240	14	scale	scale	NOUN
hassl-3690	240	15	and	and	CCONJ
hassl-3690	240	16	the	the	DET
hassl-3690	240	17	risks	risk	NOUN
hassl-3690	240	18	the	the	DET
hassl-3690	240	19	average	average	ADJ
hassl-3690	240	20	company	company	NOUN
hassl-3690	240	21	faces	face	VERB
hassl-3690	240	22	are	be	AUX
hassl-3690	240	23	4.3	4.3	NUM
hassl-3690	240	24	%	%	NOUN
hassl-3690	240	25	.	.	PUNCT
hassl-3690	241	1	french	french	ADJ
hassl-3690	241	2	and	and	CCONJ
hassl-3690	241	3	roll	roll	NOUN
hassl-3690	241	4	(	(	PUNCT
hassl-3690	241	5	1986	1986	NUM
hassl-3690	241	6	)	)	PUNCT
hassl-3690	241	7	stated	state	VERB
hassl-3690	241	8	that	that	SCONJ
hassl-3690	241	9	the	the	DET
hassl-3690	241	10	stock	stock	NOUN
hassl-3690	241	11	average	average	ADJ
hassl-3690	241	12	daily	daily	ADJ
hassl-3690	241	13	variance	variance	NOUN
hassl-3690	241	14	due	due	ADJ
hassl-3690	241	15	to	to	ADP
hassl-3690	241	16	mispricing	misprice	VERB
hassl-3690	241	17	of	of	ADP
hassl-3690	241	18	the	the	DET
hassl-3690	241	19	stock	stock	NOUN
hassl-3690	241	20	return	return	NOUN
hassl-3690	241	21	variance	variance	NOUN
hassl-3690	241	22	affects	affect	VERB
hassl-3690	241	23	asset	asset	NOUN
hassl-3690	241	24	price	price	NOUN
hassl-3690	241	25	volatility	volatility	NOUN
hassl-3690	241	26	between	between	ADP
hassl-3690	241	27	trading	trading	NOUN
hassl-3690	241	28	and	and	CCONJ
hassl-3690	241	29	non	non	ADJ
hassl-3690	241	30	-	-	ADJ
hassl-3690	241	31	trading	trading	ADJ
hassl-3690	241	32	hours	hour	NOUN
hassl-3690	241	33	.	.	PUNCT
hassl-3690	242	1	however	however	ADV
hassl-3690	242	2	,	,	PUNCT
hassl-3690	242	3	there	there	PRON
hassl-3690	242	4	will	will	AUX
hassl-3690	242	5	still	still	ADV
hassl-3690	242	6	be	be	AUX
hassl-3690	242	7	differences	difference	NOUN
hassl-3690	242	8	in	in	ADP
hassl-3690	242	9	variance	variance	NOUN
hassl-3690	242	10	between	between	ADP
hassl-3690	242	11	trading	trading	NOUN
hassl-3690	242	12	and	and	CCONJ
hassl-3690	242	13	non	non	ADJ
hassl-3690	242	14	-	-	NOUN
hassl-3690	242	15	trading	trading	NOUN
hassl-3690	242	16	because	because	SCONJ
hassl-3690	242	17	there	there	PRON
hassl-3690	242	18	is	be	VERB
hassl-3690	242	19	different	different	ADJ
hassl-3690	242	20	information	information	NOUN
hassl-3690	242	21	between	between	ADP
hassl-3690	242	22	the	the	DET
hassl-3690	242	23	two	two	NUM
hassl-3690	242	24	times	time	NOUN
hassl-3690	242	25	.	.	PUNCT
hassl-3690	243	1	the	the	DET
hassl-3690	243	2	analysis	analysis	NOUN
hassl-3690	243	3	's	's	PART
hassl-3690	243	4	findings	finding	NOUN
hassl-3690	243	5	indicate	indicate	VERB
hassl-3690	243	6	that	that	SCONJ
hassl-3690	243	7	information	information	NOUN
hassl-3690	243	8	appears	appear	VERB
hassl-3690	243	9	to	to	PART
hassl-3690	243	10	be	be	AUX
hassl-3690	243	11	the	the	DET
hassl-3690	243	12	primary	primary	ADJ
hassl-3690	243	13	cause	cause	NOUN
hassl-3690	243	14	of	of	ADP
hassl-3690	243	15	inconsistencies	inconsistency	NOUN
hassl-3690	243	16	in	in	ADP
hassl-3690	243	17	information	information	NOUN
hassl-3690	243	18	with	with	ADP
hassl-3690	243	19	the	the	DET
hassl-3690	243	20	majority	majority	NOUN
hassl-3690	243	21	of	of	ADP
hassl-3690	243	22	that	that	DET
hassl-3690	243	23	information	information	NOUN
hassl-3690	243	24	being	be	AUX
hassl-3690	243	25	private	private	ADJ
hassl-3690	243	26	.	.	PUNCT
hassl-3690	244	1	the	the	DET
hassl-3690	244	2	average	average	ADJ
hassl-3690	244	3	value	value	NOUN
hassl-3690	244	4	of	of	ADP
hassl-3690	244	5	the	the	DET
hassl-3690	244	6	large	large	ADJ
hassl-3690	244	7	shareholders	shareholder	NOUN
hassl-3690	244	8	of	of	ADP
hassl-3690	244	9	the	the	DET
hassl-3690	244	10	302	302	NUM
hassl-3690	244	11	companies	company	NOUN
hassl-3690	244	12	over	over	ADP
hassl-3690	244	13	the	the	DET
hassl-3690	244	14	five	five	NUM
hassl-3690	244	15	years	year	NOUN
hassl-3690	244	16	of	of	ADP
hassl-3690	244	17	research	research	NOUN
hassl-3690	244	18	from	from	ADP
hassl-3690	244	19	2017	2017	NUM
hassl-3690	244	20	to	to	ADP
hassl-3690	244	21	2021	2021	NUM
hassl-3690	244	22	is	be	AUX
hassl-3690	244	23	63.1	63.1	NUM
hassl-3690	244	24	%	%	NOUN
hassl-3690	244	25	.	.	PUNCT
hassl-3690	245	1	ownership	ownership	NOUN
hassl-3690	245	2	is	be	AUX
hassl-3690	245	3	dominant	dominant	ADJ
hassl-3690	245	4	with	with	ADP
hassl-3690	245	5	a	a	DET
hassl-3690	245	6	total	total	ADJ
hassl-3690	245	7	share	share	NOUN
hassl-3690	245	8	of	of	ADP
hassl-3690	245	9	63.1	63.1	NUM
hassl-3690	245	10	%	%	NOUN
hassl-3690	245	11	on	on	ADP
hassl-3690	245	12	average	average	NOUN
hassl-3690	245	13	for	for	ADP
hassl-3690	245	14	both	both	CCONJ
hassl-3690	245	15	individual	individual	ADJ
hassl-3690	245	16	and	and	CCONJ
hassl-3690	245	17	company	company	NOUN
hassl-3690	245	18	owners	owner	NOUN
hassl-3690	245	19	.	.	PUNCT
hassl-3690	246	1	the	the	DET
hassl-3690	246	2	high	high	ADJ
hassl-3690	246	3	number	number	NOUN
hassl-3690	246	4	of	of	ADP
hassl-3690	246	5	shares	share	NOUN
hassl-3690	246	6	owned	own	VERB
hassl-3690	246	7	by	by	ADP
hassl-3690	246	8	controlling	control	VERB
hassl-3690	246	9	shareholders	shareholder	NOUN
hassl-3690	246	10	indicates	indicate	VERB
hassl-3690	246	11	that	that	SCONJ
hassl-3690	246	12	the	the	DET
hassl-3690	246	13	corporate	corporate	ADJ
hassl-3690	246	14	ownership	ownership	NOUN
hassl-3690	246	15	structure	structure	NOUN
hassl-3690	246	16	in	in	ADP
hassl-3690	246	17	indonesia	indonesia	PROPN
hassl-3690	246	18	is	be	AUX
hassl-3690	246	19	very	very	ADV
hassl-3690	246	20	concentrated	concentrated	ADJ
hassl-3690	246	21	.	.	PUNCT
hassl-3690	247	1	this	this	PRON
hassl-3690	247	2	is	be	AUX
hassl-3690	247	3	as	as	SCONJ
hassl-3690	247	4	stated	state	VERB
hassl-3690	247	5	by	by	ADP
hassl-3690	247	6	claessens	claessen	NOUN
hassl-3690	247	7	et	et	PROPN
hassl-3690	247	8	al	al	PROPN
hassl-3690	247	9	.	.	PUNCT
hassl-3690	248	1	(	(	PUNCT
hassl-3690	248	2	2000	2000	NUM
hassl-3690	248	3	)	)	PUNCT
hassl-3690	248	4	.	.	PUNCT
hassl-3690	249	1	the	the	DET
hassl-3690	249	2	controlling	control	VERB
hassl-3690	249	3	shareholders	shareholder	NOUN
hassl-3690	249	4	will	will	AUX
hassl-3690	249	5	have	have	VERB
hassl-3690	249	6	more	more	ADJ
hassl-3690	249	7	authority	authority	NOUN
hassl-3690	249	8	to	to	PART
hassl-3690	249	9	organise	organise	VERB
hassl-3690	249	10	and	and	CCONJ
hassl-3690	249	11	participate	participate	VERB
hassl-3690	249	12	in	in	ADP
hassl-3690	249	13	the	the	DET
hassl-3690	249	14	company	company	NOUN
hassl-3690	249	15	's	's	PART
hassl-3690	249	16	policy	policy	NOUN
hassl-3690	249	17	-making	-make	VERB
hassl-3690	249	18	processes	process	NOUN
hassl-3690	249	19	due	due	ADJ
hassl-3690	249	20	to	to	ADP
hassl-3690	249	21	their	their	PRON
hassl-3690	249	22	substantial	substantial	ADJ
hassl-3690	249	23	ownership	ownership	NOUN
hassl-3690	249	24	position	position	NOUN
hassl-3690	249	25	.	.	PUNCT
hassl-3690	250	1	humanities	humanity	NOUN
hassl-3690	250	2	and	and	CCONJ
hassl-3690	250	3	social	social	ADJ
hassl-3690	250	4	sciences	science	NOUN
hassl-3690	250	5	letters	letter	NOUN
hassl-3690	250	6	,	,	PUNCT
hassl-3690	250	7	2024	2024	NUM
hassl-3690	250	8	,	,	PUNCT
hassl-3690	250	9	12(2	12(2	NUM
hassl-3690	250	10	):	):	PUNCT
hassl-3690	250	11	218	218	NUM
hassl-3690	250	12	-	-	SYM
hassl-3690	250	13	232	232	NUM
hassl-3690	250	14	226	226	NUM
hassl-3690	250	15	©	©	PROPN
hassl-3690	250	16	2024	2024	NUM
hassl-3690	250	17	conscientia	conscientia	PROPN
hassl-3690	250	18	beam	beam	PROPN
hassl-3690	250	19	.	.	PUNCT
hassl-3690	251	1	all	all	DET
hassl-3690	251	2	rights	right	NOUN
hassl-3690	251	3	reserved	reserve	VERB
hassl-3690	251	4	.	.	PUNCT
hassl-3690	252	1	table	table	NOUN
hassl-3690	252	2	1	1	NUM
hassl-3690	252	3	.	.	PUNCT
hassl-3690	253	1	statistic	statistic	PROPN
hassl-3690	253	2	descriptive	descriptive	ADJ
hassl-3690	253	3	.	.	PUNCT
hassl-3690	254	1	variables	variable	NOUN
hassl-3690	254	2	n	n	CCONJ
hassl-3690	254	3	mean	mean	VERB
hassl-3690	254	4	median	median	ADJ
hassl-3690	254	5	maximum	maximum	ADJ
hassl-3690	254	6	minimum	minimum	ADJ
hassl-3690	254	7	std	std	NOUN
hassl-3690	254	8	.	.	PUNCT
hassl-3690	255	1	deviation	deviation	NOUN
hassl-3690	255	2	𝐼𝑅𝑖	𝐼𝑅𝑖	NOUN
hassl-3690	255	3	,	,	PUNCT
hassl-3690	255	4	𝑡	𝑡	ADP
hassl-3690	255	5	1.510	1.510	NUM
hassl-3690	255	6	0.043	0.043	NUM
hassl-3690	255	7	0.030	0.030	NUM
hassl-3690	255	8	0.091	0.091	NUM
hassl-3690	255	9	0.007	0.007	NUM
hassl-3690	255	10	0.038	0.038	NUM
hassl-3690	255	11	𝐿𝑆𝑖,𝑡−1	𝐿𝑆𝑖,𝑡−1	VERB
hassl-3690	255	12	1.510	1.510	NUM
hassl-3690	255	13	0.631	0.631	NUM
hassl-3690	255	14	0.648	0.648	NUM
hassl-3690	255	15	0.997	0.997	NUM
hassl-3690	255	16	0.174	0.174	NUM
hassl-3690	255	17	0.201	0.201	NUM
hassl-3690	255	18	𝑀𝐷𝑖	𝑀𝐷𝑖	NOUN
hassl-3690	255	19	,	,	PUNCT
hassl-3690	255	20	𝑡	𝑡	X
hassl-3690	255	21	−1	−1	NOUN
hassl-3690	255	22	1.510	1.510	NUM
hassl-3690	255	23	0.253	0.253	NUM
hassl-3690	255	24	0.236	0.236	NUM
hassl-3690	255	25	1	1	NUM
hassl-3690	255	26	0	0	NUM
hassl-3690	255	27	0.262	0.262	NUM
hassl-3690	255	28	𝑆𝐼𝑍𝐸𝑖	𝑆𝐼𝑍𝐸𝑖	PROPN
hassl-3690	255	29	,	,	PUNCT
hassl-3690	255	30	𝑡−1	𝑡−1	PROPN
hassl-3690	255	31	(	(	PUNCT
hassl-3690	255	32	rp	rp	NOUN
hassl-3690	255	33	million	million	NUM
hassl-3690	255	34	)	)	PUNCT
hassl-3690	256	1	1.510	1.510	NUM
hassl-3690	256	2	4.298.399	4.298.399	NUM
hassl-3690	256	3	536.303	536.303	NUM
hassl-3690	256	4	156.724.465	156.724.465	NUM
hassl-3690	256	5	206.196	206.196	NUM
hassl-3690	256	6	13.533	13.533	NUM
hassl-3690	256	7	𝑆𝐼𝑍𝐸𝑖	𝑆𝐼𝑍𝐸𝑖	NOUN
hassl-3690	256	8	,	,	PUNCT
hassl-3690	256	9	𝑡−1	𝑡−1	PROPN
hassl-3690	256	10	(	(	PUNCT
hassl-3690	256	11	the	the	DET
hassl-3690	256	12	total	total	ADJ
hassl-3690	256	13	asset	asset	NOUN
hassl-3690	256	14	)	)	PUNCT
hassl-3690	256	15	1.510	1.510	NUM
hassl-3690	256	16	29.089	29.089	NUM
hassl-3690	256	17	24.705	24.705	NUM
hassl-3690	256	18	32.686	32.686	NUM
hassl-3690	256	19	26.052	26.052	NUM
hassl-3690	256	20	23.328	23.328	NUM
hassl-3690	256	21	𝐴𝐺𝐸𝑖	𝐴𝐺𝐸𝑖	NOUN
hassl-3690	256	22	,	,	PUNCT
hassl-3690	256	23	𝑡−1	𝑡−1	PROPN
hassl-3690	256	24	(	(	PUNCT
hassl-3690	256	25	year	year	NOUN
hassl-3690	256	26	)	)	PUNCT
hassl-3690	256	27	1.510	1.510	NUM
hassl-3690	256	28	34.818	34.818	NUM
hassl-3690	256	29	33	33	NUM
hassl-3690	256	30	114	114	NUM
hassl-3690	256	31	3	3	NUM
hassl-3690	256	32	17.189	17.189	NUM
hassl-3690	256	33	𝐿𝐸𝑉𝑖	𝐿𝐸𝑉𝑖	NOUN
hassl-3690	256	34	,	,	PUNCT
hassl-3690	256	35	𝑡−1	𝑡−1	PROPN
hassl-3690	256	36	1.510	1.510	NUM
hassl-3690	256	37	0.454	0.454	NUM
hassl-3690	256	38	0.464	0.464	NUM
hassl-3690	256	39	0.973	0.973	NUM
hassl-3690	256	40	0.007	0.007	NUM
hassl-3690	256	41	0.237	0.237	NUM
hassl-3690	256	42	𝑅𝑂𝐴𝑖	𝑅𝑂𝐴𝑖	NOUN
hassl-3690	256	43	,	,	PUNCT
hassl-3690	256	44	𝑡−1	𝑡−1	PROPN
hassl-3690	256	45	1.510	1.510	NUM
hassl-3690	256	46	0.029	0.029	NUM
hassl-3690	256	47	0.025	0.025	NUM
hassl-3690	256	48	0.704	0.704	NUM
hassl-3690	256	49	-0.679	-0.679	PUNCT
hassl-3690	256	50	0.094	0.094	NUM
hassl-3690	256	51	𝑉𝑇𝑖	𝑉𝑇𝑖	NOUN
hassl-3690	256	52	,	,	PUNCT
hassl-3690	256	53	𝑡	𝑡	X
hassl-3690	256	54	−1	−1	NOUN
hassl-3690	256	55	1.510	1.510	NUM
hassl-3690	256	56	0.282	0.282	NUM
hassl-3690	256	57	0.827	0.827	NUM
hassl-3690	256	58	7.073	7.073	NUM
hassl-3690	256	59	0.004	0.004	NUM
hassl-3690	256	60	3.596	3.596	NUM
hassl-3690	256	61	𝐼𝑁𝐷𝑇𝑖	𝐼𝑁𝐷𝑇𝑖	NOUN
hassl-3690	256	62	,	,	PUNCT
hassl-3690	256	63	𝑡−1	𝑡−1	PROPN
hassl-3690	256	64	1.510	1.510	NUM
hassl-3690	256	65	0.331	0.331	NUM
hassl-3690	256	66	0	0	NUM
hassl-3690	256	67	1	1	NUM
hassl-3690	256	68	0	0	NUM
hassl-3690	256	69	0.476	0.476	NUM
hassl-3690	256	70	in	in	ADP
hassl-3690	256	71	indonesia	indonesia	PROPN
hassl-3690	256	72	,	,	PUNCT
hassl-3690	256	73	a	a	DET
hassl-3690	256	74	two	two	NUM
hassl-3690	256	75	-	-	PUNCT
hassl-3690	256	76	tier	tier	NOUN
hassl-3690	256	77	structure	structure	NOUN
hassl-3690	256	78	provides	provide	VERB
hassl-3690	256	79	distinct	distinct	ADJ
hassl-3690	256	80	duties	duty	NOUN
hassl-3690	256	81	and	and	CCONJ
hassl-3690	256	82	functions	function	NOUN
hassl-3690	256	83	to	to	ADP
hassl-3690	256	84	the	the	DET
hassl-3690	256	85	supervisor	supervisor	NOUN
hassl-3690	256	86	and	and	CCONJ
hassl-3690	256	87	executor	executor	NOUN
hassl-3690	256	88	.	.	PUNCT
hassl-3690	257	1	oversight	oversight	NOUN
hassl-3690	257	2	of	of	ADP
hassl-3690	257	3	the	the	DET
hassl-3690	257	4	company	company	NOUN
hassl-3690	257	5	is	be	AUX
hassl-3690	257	6	held	hold	VERB
hassl-3690	257	7	in	in	ADP
hassl-3690	257	8	full	full	ADJ
hassl-3690	257	9	by	by	ADP
hassl-3690	257	10	the	the	DET
hassl-3690	257	11	board	board	NOUN
hassl-3690	257	12	of	of	ADP
hassl-3690	257	13	commissioners	commissioner	NOUN
hassl-3690	257	14	,	,	PUNCT
hassl-3690	257	15	one	one	NUM
hassl-3690	257	16	of	of	ADP
hassl-3690	257	17	the	the	DET
hassl-3690	257	18	company	company	NOUN
hassl-3690	257	19	organs	organ	NOUN
hassl-3690	257	20	that	that	PRON
hassl-3690	257	21	has	have	VERB
hassl-3690	257	22	a	a	DET
hassl-3690	257	23	vital	vital	ADJ
hassl-3690	257	24	role	role	NOUN
hassl-3690	257	25	as	as	ADP
hassl-3690	257	26	supervisor	supervisor	NOUN
hassl-3690	257	27	.	.	PUNCT
hassl-3690	258	1	the	the	DET
hassl-3690	258	2	average	average	ADJ
hassl-3690	258	3	(	(	PUNCT
hassl-3690	258	4	mean	mean	ADJ
hassl-3690	258	5	)	)	PUNCT
hassl-3690	258	6	is	be	AUX
hassl-3690	258	7	that	that	SCONJ
hassl-3690	258	8	25.3	25.3	NUM
hassl-3690	258	9	%	%	NOUN
hassl-3690	258	10	of	of	ADP
hassl-3690	258	11	the	the	DET
hassl-3690	258	12	companies	company	NOUN
hassl-3690	258	13	in	in	ADP
hassl-3690	258	14	the	the	DET
hassl-3690	258	15	sample	sample	NOUN
hassl-3690	258	16	have	have	VERB
hassl-3690	258	17	a	a	DET
hassl-3690	258	18	board	board	NOUN
hassl-3690	258	19	of	of	ADP
hassl-3690	258	20	commissioners	commissioner	NOUN
hassl-3690	258	21	with	with	ADP
hassl-3690	258	22	multiple	multiple	ADJ
hassl-3690	258	23	positions	position	NOUN
hassl-3690	258	24	.	.	PUNCT
hassl-3690	259	1	number	number	NOUN
hassl-3690	259	2	33	33	NUM
hassl-3690	259	3	/	/	SYM
hassl-3690	259	4	pojk.04/2014	pojk.04/2014	PROPN
hassl-3690	259	5	(	(	PUNCT
hassl-3690	259	6	2014	2014	NUM
hassl-3690	259	7	)	)	PUNCT
hassl-3690	259	8	which	which	PRON
hassl-3690	259	9	regulates	regulate	VERB
hassl-3690	259	10	concurrent	concurrent	ADJ
hassl-3690	259	11	positions	position	NOUN
hassl-3690	259	12	on	on	ADP
hassl-3690	259	13	the	the	DET
hassl-3690	259	14	board	board	NOUN
hassl-3690	259	15	of	of	ADP
hassl-3690	259	16	commissioners	commissioner	NOUN
hassl-3690	259	17	in	in	ADP
hassl-3690	259	18	indonesian	indonesian	ADJ
hassl-3690	259	19	companies	company	NOUN
hassl-3690	259	20	states	state	VERB
hassl-3690	259	21	the	the	DET
hassl-3690	259	22	maximum	maximum	ADJ
hassl-3690	259	23	limit	limit	NOUN
hassl-3690	259	24	is	be	AUX
hassl-3690	259	25	three	three	NUM
hassl-3690	259	26	.	.	PUNCT
hassl-3690	260	1	still	still	ADV
hassl-3690	260	2	,	,	PUNCT
hassl-3690	260	3	it	it	PRON
hassl-3690	260	4	can	can	AUX
hassl-3690	260	5	reach	reach	VERB
hassl-3690	260	6	five	five	NUM
hassl-3690	260	7	if	if	SCONJ
hassl-3690	260	8	not	not	PART
hassl-3690	260	9	using	use	VERB
hassl-3690	260	10	a	a	DET
hassl-3690	260	11	quota	quota	NOUN
hassl-3690	260	12	to	to	PART
hassl-3690	260	13	concurrently	concurrently	ADV
hassl-3690	260	14	serve	serve	VERB
hassl-3690	260	15	as	as	ADP
hassl-3690	260	16	a	a	DET
hassl-3690	260	17	member	member	NOUN
hassl-3690	260	18	of	of	ADP
hassl-3690	260	19	the	the	DET
hassl-3690	260	20	board	board	NOUN
hassl-3690	260	21	of	of	ADP
hassl-3690	260	22	directors	director	NOUN
hassl-3690	260	23	(	(	PUNCT
hassl-3690	260	24	quota	quota	NOUN
hassl-3690	260	25	substitution	substitution	NOUN
hassl-3690	260	26	)	)	PUNCT
hassl-3690	260	27	.	.	PUNCT
hassl-3690	261	1	table	table	NOUN
hassl-3690	261	2	2	2	NUM
hassl-3690	261	3	.	.	PUNCT
hassl-3690	261	4	results	result	NOUN
hassl-3690	261	5	.	.	PUNCT
hassl-3690	262	1	variables	variable	NOUN
hassl-3690	262	2	fixed	fix	VERB
hassl-3690	262	3	effect	effect	NOUN
hassl-3690	262	4	dynamic	dynamic	ADJ
hassl-3690	262	5	panel	panel	NOUN
hassl-3690	262	6	-	-	PUNCT
hassl-3690	262	7	data	datum	NOUN
hassl-3690	262	8	estimation	estimation	NOUN
hassl-3690	262	9	,	,	PUNCT
hassl-3690	262	10	two	two	NUM
hassl-3690	262	11	-	-	PUNCT
hassl-3690	262	12	step	step	NOUN
hassl-3690	262	13	system	system	NOUN
hassl-3690	262	14	gmm	gmm	PROPN
hassl-3690	262	15	model	model	VERB
hassl-3690	262	16	1	1	NUM
hassl-3690	262	17	model	model	NOUN
hassl-3690	262	18	2	2	NUM
hassl-3690	262	19	model	model	NOUN
hassl-3690	262	20	3	3	NUM
hassl-3690	262	21	model	model	NOUN
hassl-3690	262	22	1	1	NUM
hassl-3690	262	23	model	model	NOUN
hassl-3690	262	24	2	2	NUM
hassl-3690	262	25	model	model	NOUN
hassl-3690	262	26	3	3	NUM
hassl-3690	262	27	𝐼𝑅𝑖,𝑡−1	𝐼𝑅𝑖,𝑡−1	VERB
hassl-3690	262	28	1.934	1.934	NUM
hassl-3690	262	29	*	*	PUNCT
hassl-3690	262	30	*	*	PUNCT
hassl-3690	262	31	(	(	PUNCT
hassl-3690	262	32	0.034	0.034	NUM
hassl-3690	262	33	)	)	PUNCT
hassl-3690	262	34	2.684	2.684	NUM
hassl-3690	262	35	*	*	PUNCT
hassl-3690	262	36	*	*	PUNCT
hassl-3690	262	37	*	*	PUNCT
hassl-3690	262	38	(	(	PUNCT
hassl-3690	262	39	0.000	0.000	NUM
hassl-3690	262	40	)	)	PUNCT
hassl-3690	262	41	2.958	2.958	NUM
hassl-3690	262	42	*	*	PUNCT
hassl-3690	262	43	*	*	PUNCT
hassl-3690	262	44	(	(	PUNCT
hassl-3690	262	45	0.049	0.049	NUM
hassl-3690	262	46	)	)	PUNCT
hassl-3690	262	47	𝐿𝑆𝑖	𝐿𝑆𝑖	NOUN
hassl-3690	262	48	,	,	PUNCT
hassl-3690	262	49	𝑡−1	𝑡−1	PROPN
hassl-3690	262	50	1.352	1.352	NUM
hassl-3690	262	51	*	*	NOUN
hassl-3690	262	52	*	*	PUNCT
hassl-3690	262	53	(	(	PUNCT
hassl-3690	262	54	0.051	0.051	NUM
hassl-3690	262	55	)	)	PUNCT
hassl-3690	262	56	1.158	1.158	NUM
hassl-3690	262	57	*	*	PUNCT
hassl-3690	262	58	(	(	PUNCT
hassl-3690	262	59	0.087	0.087	NUM
hassl-3690	262	60	)	)	PUNCT
hassl-3690	262	61	1.782	1.782	NUM
hassl-3690	262	62	*	*	NOUN
hassl-3690	262	63	*	*	PUNCT
hassl-3690	262	64	(	(	PUNCT
hassl-3690	262	65	0.045	0.045	NUM
hassl-3690	262	66	)	)	PUNCT
hassl-3690	262	67	1.967	1.967	NUM
hassl-3690	262	68	*	*	NOUN
hassl-3690	262	69	*	*	PUNCT
hassl-3690	262	70	(	(	PUNCT
hassl-3690	262	71	0.035	0.035	NUM
hassl-3690	262	72	)	)	PUNCT
hassl-3690	262	73	𝑀𝐷𝑖,𝑡−1	𝑀𝐷𝑖,𝑡−1	NOUN
hassl-3690	262	74	-2.060	-2.060	NOUN
hassl-3690	262	75	*	*	NOUN
hassl-3690	262	76	*	*	PUNCT
hassl-3690	262	77	(	(	PUNCT
hassl-3690	262	78	0.039	0.039	NUM
hassl-3690	262	79	)	)	PUNCT
hassl-3690	262	80	-2.457	-2.457	NOUN
hassl-3690	262	81	*	*	PUNCT
hassl-3690	262	82	*	*	PUNCT
hassl-3690	262	83	(	(	PUNCT
hassl-3690	262	84	0.014	0.014	NUM
hassl-3690	262	85	)	)	PUNCT
hassl-3690	262	86	𝑀𝐷𝐿𝑆𝑖,𝑡−1	𝑀𝐷𝐿𝑆𝑖,𝑡−1	PROPN
hassl-3690	262	87	-1.805	-1.805	PROPN
hassl-3690	262	88	*	*	PUNCT
hassl-3690	262	89	*	*	PUNCT
hassl-3690	262	90	(	(	PUNCT
hassl-3690	262	91	0.005	0.005	NUM
hassl-3690	262	92	)	)	PUNCT
hassl-3690	262	93	-1.876	-1.876	NOUN
hassl-3690	262	94	*	*	PUNCT
hassl-3690	263	1	*	*	PUNCT
hassl-3690	263	2	(	(	PUNCT
hassl-3690	263	3	0.003	0.003	NUM
hassl-3690	263	4	)	)	PUNCT
hassl-3690	263	5	𝑆𝐼𝑍𝐸𝑖	𝑆𝐼𝑍𝐸𝑖	NOUN
hassl-3690	263	6	,	,	PUNCT
hassl-3690	263	7	𝑡−1	𝑡−1	PROPN
hassl-3690	263	8	1.346	1.346	NUM
hassl-3690	263	9	*	*	NUM
hassl-3690	263	10	8	8	NUM
hassl-3690	263	11	(	(	PUNCT
hassl-3690	263	12	0.032	0.032	NUM
hassl-3690	263	13	)	)	PUNCT
hassl-3690	263	14	3.972	3.972	NUM
hassl-3690	263	15	*	*	PUNCT
hassl-3690	263	16	*	*	PUNCT
hassl-3690	263	17	*	*	PUNCT
hassl-3690	263	18	(	(	PUNCT
hassl-3690	263	19	0.000	0.000	NUM
hassl-3690	263	20	)	)	PUNCT
hassl-3690	263	21	2.110	2.110	NUM
hassl-3690	263	22	*	*	PUNCT
hassl-3690	263	23	*	*	PUNCT
hassl-3690	263	24	(	(	PUNCT
hassl-3690	263	25	0.037	0.037	NUM
hassl-3690	263	26	)	)	PUNCT
hassl-3690	263	27	1.367	1.367	NUM
hassl-3690	263	28	*	*	SYM
hassl-3690	263	29	*	*	PUNCT
hassl-3690	263	30	(	(	PUNCT
hassl-3690	263	31	0.045	0.045	NUM
hassl-3690	263	32	)	)	PUNCT
hassl-3690	263	33	2.789	2.789	NUM
hassl-3690	263	34	*	*	PUNCT
hassl-3690	263	35	*	*	PUNCT
hassl-3690	263	36	*	*	PUNCT
hassl-3690	263	37	(	(	PUNCT
hassl-3690	263	38	0.005	0.005	NUM
hassl-3690	263	39	)	)	PUNCT
hassl-3690	263	40	2.595	2.595	NUM
hassl-3690	263	41	*	*	NOUN
hassl-3690	263	42	*	*	PUNCT
hassl-3690	263	43	(	(	PUNCT
hassl-3690	263	44	0.033	0.033	NUM
hassl-3690	263	45	)	)	PUNCT
hassl-3690	263	46	𝐴𝐺𝐸𝑖,𝑡−1	𝐴𝐺𝐸𝑖,𝑡−1	NOUN
hassl-3690	263	47	-0.656	-0.656	PUNCT
hassl-3690	263	48	(	(	PUNCT
hassl-3690	263	49	0.511	0.511	NUM
hassl-3690	263	50	)	)	PUNCT
hassl-3690	263	51	4.851	4.851	NUM
hassl-3690	263	52	*	*	PUNCT
hassl-3690	263	53	*	*	PUNCT
hassl-3690	263	54	*	*	PUNCT
hassl-3690	263	55	(	(	PUNCT
hassl-3690	263	56	0.000	0.000	NUM
hassl-3690	263	57	)	)	PUNCT
hassl-3690	263	58	-0.281	-0.281	X
hassl-3690	263	59	(	(	PUNCT
hassl-3690	263	60	0.457	0.457	NUM
hassl-3690	263	61	)	)	PUNCT
hassl-3690	263	62	-0.210	-0.210	NOUN
hassl-3690	263	63	(	(	PUNCT
hassl-3690	263	64	0.833	0.833	NUM
hassl-3690	263	65	)	)	PUNCT
hassl-3690	263	66	2.241	2.241	NUM
hassl-3690	263	67	*	*	PUNCT
hassl-3690	263	68	*	*	PUNCT
hassl-3690	263	69	*	*	PUNCT
hassl-3690	263	70	(	(	PUNCT
hassl-3690	263	71	0.002	0.002	NUM
hassl-3690	263	72	)	)	PUNCT
hassl-3690	263	73	-0.876	-0.876	X
hassl-3690	263	74	(	(	PUNCT
hassl-3690	263	75	0.381	0.381	NUM
hassl-3690	263	76	)	)	PUNCT
hassl-3690	263	77	𝐿𝐸𝑉𝑖	𝐿𝐸𝑉𝑖	NOUN
hassl-3690	263	78	,	,	PUNCT
hassl-3690	263	79	𝑡−1	𝑡−1	PROPN
hassl-3690	263	80	1.819	1.819	NUM
hassl-3690	263	81	*	*	SYM
hassl-3690	263	82	(	(	PUNCT
hassl-3690	263	83	0.069	0.069	NUM
hassl-3690	263	84	)	)	PUNCT
hassl-3690	263	85	1.358	1.358	NUM
hassl-3690	263	86	(	(	PUNCT
hassl-3690	263	87	0.174	0.174	NUM
hassl-3690	263	88	)	)	PUNCT
hassl-3690	263	89	1.897	1.897	NUM
hassl-3690	263	90	*	*	PUNCT
hassl-3690	263	91	*	*	PUNCT
hassl-3690	263	92	(	(	PUNCT
hassl-3690	263	93	0.058	0.058	NUM
hassl-3690	263	94	)	)	PUNCT
hassl-3690	263	95	1.998	1.998	NUM
hassl-3690	263	96	*	*	SYM
hassl-3690	263	97	(	(	PUNCT
hassl-3690	263	98	0.062	0.062	NUM
hassl-3690	263	99	)	)	PUNCT
hassl-3690	263	100	1.111	1.111	NUM
hassl-3690	263	101	(	(	PUNCT
hassl-3690	263	102	0.191	0.191	NUM
hassl-3690	263	103	)	)	PUNCT
hassl-3690	263	104	1.724	1.724	NUM
hassl-3690	263	105	*	*	PUNCT
hassl-3690	263	106	*	*	PUNCT
hassl-3690	263	107	(	(	PUNCT
hassl-3690	263	108	0.046	0.046	NUM
hassl-3690	263	109	)	)	PUNCT
hassl-3690	263	110	𝑅𝑂𝐴𝑖,𝑡−1	𝑅𝑂𝐴𝑖,𝑡−1	NOUN
hassl-3690	264	1	-1.419	-1.419	PUNCT
hassl-3690	264	2	(	(	PUNCT
hassl-3690	264	3	0.156	0.156	NUM
hassl-3690	264	4	)	)	PUNCT
hassl-3690	264	5	-1.078	-1.078	NOUN
hassl-3690	264	6	(	(	PUNCT
hassl-3690	264	7	0.281	0.281	NUM
hassl-3690	264	8	)	)	PUNCT
hassl-3690	264	9	-1.493	-1.493	PUNCT
hassl-3690	264	10	(	(	PUNCT
hassl-3690	264	11	0.135	0.135	NUM
hassl-3690	264	12	)	)	PUNCT
hassl-3690	264	13	-1.256	-1.256	PROPN
hassl-3690	264	14	(	(	PUNCT
hassl-3690	264	15	0.185	0.185	NUM
hassl-3690	264	16	)	)	PUNCT
hassl-3690	264	17	-2.139	-2.139	NOUN
hassl-3690	264	18	(	(	PUNCT
hassl-3690	264	19	0.330	0.330	NUM
hassl-3690	264	20	)	)	PUNCT
hassl-3690	264	21	-1.158	-1.158	NOUN
hassl-3690	264	22	(	(	PUNCT
hassl-3690	264	23	0.247	0.247	NUM
hassl-3690	264	24	)	)	PUNCT
hassl-3690	264	25	𝑉𝑇𝑖.𝑡−1	𝑉𝑇𝑖.𝑡−1	PROPN
hassl-3690	264	26	1,866	1,866	NUM
hassl-3690	264	27	*	*	SYM
hassl-3690	264	28	(	(	PUNCT
hassl-3690	264	29	0.092	0.092	NUM
hassl-3690	264	30	)	)	PUNCT
hassl-3690	264	31	1.913	1.913	NUM
hassl-3690	264	32	(	(	PUNCT
hassl-3690	264	33	0.221	0.221	NUM
hassl-3690	264	34	)	)	PUNCT
hassl-3690	264	35	0.318	0.318	NUM
hassl-3690	264	36	(	(	PUNCT
hassl-3690	264	37	0.220	0.220	NUM
hassl-3690	264	38	)	)	PUNCT
hassl-3690	264	39	1.568	1.568	NUM
hassl-3690	264	40	*	*	PUNCT
hassl-3690	264	41	(	(	PUNCT
hassl-3690	264	42	0.087	0.087	NUM
hassl-3690	264	43	)	)	PUNCT
hassl-3690	264	44	1.249	1.249	NUM
hassl-3690	264	45	(	(	PUNCT
hassl-3690	264	46	0.217	0.217	NUM
hassl-3690	264	47	)	)	PUNCT
hassl-3690	264	48	0.496	0.496	NUM
hassl-3690	264	49	(	(	PUNCT
hassl-3690	264	50	0.268	0.268	NUM
hassl-3690	264	51	)	)	PUNCT
hassl-3690	265	1	𝐼𝑁𝐷𝑇𝑖.𝑡−1	𝐼𝑁𝐷𝑇𝑖.𝑡−1	NOUN
hassl-3690	265	2	1.117	1.117	NUM
hassl-3690	265	3	*	*	SYM
hassl-3690	265	4	(	(	PUNCT
hassl-3690	265	5	0.062	0.062	NUM
hassl-3690	265	6	)	)	PUNCT
hassl-3690	265	7	1.739	1.739	NUM
hassl-3690	265	8	*	*	SYM
hassl-3690	265	9	(	(	PUNCT
hassl-3690	265	10	0.078	0.078	NUM
hassl-3690	265	11	)	)	PUNCT
hassl-3690	265	12	2.931	2.931	NUM
hassl-3690	265	13	*	*	SYM
hassl-3690	265	14	*	*	PUNCT
hassl-3690	265	15	(	(	PUNCT
hassl-3690	265	16	0.003	0.003	NUM
hassl-3690	265	17	)	)	PUNCT
hassl-3690	265	18	1.519	1.519	NUM
hassl-3690	265	19	*	*	SYM
hassl-3690	265	20	(	(	PUNCT
hassl-3690	265	21	0.071	0.071	NUM
hassl-3690	265	22	)	)	PUNCT
hassl-3690	265	23	1.142	1.142	NUM
hassl-3690	265	24	*	*	SYM
hassl-3690	265	25	(	(	PUNCT
hassl-3690	265	26	0.063	0.063	NUM
hassl-3690	265	27	)	)	PUNCT
hassl-3690	265	28	2.488	2.488	NUM
hassl-3690	265	29	*	*	PUNCT
hassl-3690	265	30	*	*	PUNCT
hassl-3690	265	31	(	(	PUNCT
hassl-3690	265	32	0.005	0.005	NUM
hassl-3690	265	33	)	)	PUNCT
hassl-3690	265	34	r2	r2	NOUN
hassl-3690	265	35	0.256	0.256	NUM
hassl-3690	265	36	0.278	0.278	NUM
hassl-3690	265	37	0.309	0.309	NUM
hassl-3690	265	38	ar	ar	NOUN
hassl-3690	265	39	(	(	PUNCT
hassl-3690	265	40	1	1	NUM
hassl-3690	265	41	)	)	PUNCT
hassl-3690	265	42	0.316	0.316	NUM
hassl-3690	265	43	0.222	0.222	NUM
hassl-3690	265	44	0.381	0.381	NUM
hassl-3690	265	45	ar(2	ar(2	NOUN
hassl-3690	265	46	)	)	PUNCT
hassl-3690	265	47	0.574	0.574	NUM
hassl-3690	265	48	0.478	0.478	NUM
hassl-3690	265	49	0.445	0.445	NUM
hassl-3690	265	50	conclusion	conclusion	NOUN
hassl-3690	265	51	no	no	DET
hassl-3690	265	52	misspecification	misspecification	NOUN
hassl-3690	265	53	no	no	DET
hassl-3690	265	54	misspecification	misspecification	NOUN
hassl-3690	265	55	no	no	DET
hassl-3690	265	56	misspecification	misspecification	NOUN
hassl-3690	265	57	sargan	sargan	NOUN
hassl-3690	265	58	/	/	SYM
hassl-3690	265	59	hansen	hansen	PROPN
hassl-3690	265	60	(	(	PUNCT
hassl-3690	265	61	chi	chi	ADJ
hassl-3690	265	62	-	-	PUNCT
hassl-3690	265	63	square	square	NOUN
hassl-3690	265	64	)	)	PUNCT
hassl-3690	265	65	0.354	0.354	NUM
hassl-3690	265	66	valid	valid	ADJ
hassl-3690	265	67	0.511	0.511	NUM
hassl-3690	265	68	valid	valid	ADJ
hassl-3690	265	69	0.224	0.224	NUM
hassl-3690	265	70	valid	valid	ADJ
hassl-3690	265	71	observation	observation	NOUN
hassl-3690	265	72	1.510	1.510	NUM
hassl-3690	265	73	1.510	1.510	NUM
hassl-3690	265	74	1.510	1.510	NUM
hassl-3690	265	75	1.510	1.510	NUM
hassl-3690	265	76	1.510	1.510	NUM
hassl-3690	265	77	1.510	1.510	NUM
hassl-3690	265	78	p	p	NOUN
hassl-3690	265	79	value	value	NOUN
hassl-3690	265	80	:	:	PUNCT
hassl-3690	265	81	*	*	PUNCT
hassl-3690	265	82	*	*	PUNCT
hassl-3690	265	83	*	*	PUNCT
hassl-3690	265	84	1	1	NUM
hassl-3690	265	85	%	%	NOUN
hassl-3690	265	86	.	.	PUNCT
hassl-3690	266	1	*	*	PUNCT
hassl-3690	267	1	*	*	PUNCT
hassl-3690	267	2	5	5	NUM
hassl-3690	267	3	%	%	NOUN
hassl-3690	267	4	,	,	PUNCT
hassl-3690	267	5	*	*	PUNCT
hassl-3690	267	6	10	10	NUM
hassl-3690	267	7	%	%	NOUN
hassl-3690	267	8	note	note	NOUN
hassl-3690	267	9	:	:	PUNCT
hassl-3690	267	10	ir	ir	NOUN
hassl-3690	267	11	=	=	PUNCT
hassl-3690	267	12	idiosyncratic	idiosyncratic	ADJ
hassl-3690	267	13	risk	risk	NOUN
hassl-3690	267	14	,	,	PUNCT
hassl-3690	267	15	namely	namely	ADV
hassl-3690	267	16	a	a	DET
hassl-3690	267	17	proxy	proxy	NOUN
hassl-3690	267	18	for	for	ADP
hassl-3690	267	19	measuring	measure	VERB
hassl-3690	267	20	company	company	NOUN
hassl-3690	267	21	risk	risk	NOUN
hassl-3690	267	22	where	where	SCONJ
hassl-3690	267	23	ir	ir	PROPN
hassl-3690	267	24	is	be	AUX
hassl-3690	267	25	the	the	DET
hassl-3690	267	26	standard	standard	ADJ
hassl-3690	267	27	deviation	deviation	NOUN
hassl-3690	267	28	of	of	ADP
hassl-3690	267	29	the	the	DET
hassl-3690	267	30	residual	residual	ADJ
hassl-3690	267	31	regress	regress	NOUN
hassl-3690	267	32	ion	ion	NOUN
hassl-3690	267	33	of	of	ADP
hassl-3690	267	34	daily	daily	ADJ
hassl-3690	267	35	stock	stock	NOUN
hassl-3690	267	36	price	price	NOUN
hassl-3690	267	37	data	datum	NOUN
hassl-3690	267	38	(	(	PUNCT
hassl-3690	267	39	single	single	ADJ
hassl-3690	267	40	factor	factor	NOUN
hassl-3690	267	41	model	model	NOUN
hassl-3690	267	42	)	)	PUNCT
hassl-3690	267	43	.	.	PUNCT
hassl-3690	268	1	ls	ls	ADJ
hassl-3690	268	2	:	:	PUNCT
hassl-3690	268	3	large	large	ADJ
hassl-3690	268	4	shareholders	shareholder	NOUN
hassl-3690	268	5	.	.	PUNCT
hassl-3690	269	1	md	md	PROPN
hassl-3690	269	2	:	:	PUNCT
hassl-3690	269	3	multiple	multiple	ADJ
hassl-3690	269	4	directorships	directorship	NOUN
hassl-3690	269	5	.	.	PUNCT
hassl-3690	270	1	mdls	mdl	NOUN
hassl-3690	270	2	:	:	PUNCT
hassl-3690	270	3	moderating	moderate	VERB
hassl-3690	270	4	large	large	ADJ
hassl-3690	270	5	shareholders	shareholder	NOUN
hassl-3690	270	6	and	and	CCONJ
hassl-3690	270	7	multiple	multiple	ADJ
hassl-3690	270	8	dir	dir	NOUN
hassl-3690	270	9	ectorships	ectorship	NOUN
hassl-3690	270	10	size=	size=	NUM
hassl-3690	270	11	company	company	NOUN
hassl-3690	270	12	size	size	NOUN
hassl-3690	270	13	of	of	ADP
hassl-3690	270	14	total	total	ADJ
hassl-3690	270	15	assets	asset	NOUN
hassl-3690	270	16	.	.	PUNCT
hassl-3690	271	1	age	age	NOUN
hassl-3690	271	2	=	=	SYM
hassl-3690	271	3	company	company	NOUN
hassl-3690	271	4	age	age	NOUN
hassl-3690	271	5	calculated	calculate	VERB
hassl-3690	271	6	from	from	ADP
hassl-3690	271	7	the	the	DET
hassl-3690	271	8	year	year	NOUN
hassl-3690	271	9	the	the	DET
hassl-3690	271	10	company	company	NOUN
hassl-3690	271	11	was	be	AUX
hassl-3690	271	12	founded	found	VERB
hassl-3690	271	13	up	up	ADP
hassl-3690	271	14	to	to	ADP
hassl-3690	271	15	the	the	DET
hassl-3690	271	16	researc	researc	NOUN
hassl-3690	271	17	h	h	NOUN
hassl-3690	271	18	period	period	NOUN
hassl-3690	271	19	.	.	PUNCT
hassl-3690	272	1	lev	lev	NOUN
hassl-3690	272	2	=	=	SYM
hassl-3690	272	3	leverage	leverage	NOUN
hassl-3690	272	4	,	,	PUNCT
hassl-3690	272	5	namely	namely	ADV
hassl-3690	272	6	total	total	ADJ
hassl-3690	272	7	debt	debt	NOUN
hassl-3690	272	8	divided	divide	VERB
hassl-3690	272	9	by	by	ADP
hassl-3690	272	10	the	the	DET
hassl-3690	272	11	book	book	NOUN
hassl-3690	272	12	value	value	NOUN
hassl-3690	272	13	of	of	ADP
hassl-3690	272	14	total	total	ADJ
hassl-3690	272	15	capital	capital	NOUN
hassl-3690	272	16	,	,	PUNCT
hassl-3690	272	17	bs	bs	NOUN
hassl-3690	272	18	=	=	NOUN
hassl-3690	272	19	the	the	DET
hassl-3690	272	20	number	number	NOUN
hassl-3690	272	21	of	of	ADP
hassl-3690	272	22	commissioners	commissioner	NOUN
hassl-3690	272	23	in	in	ADP
hassl-3690	272	24	one	one	NUM
hassl-3690	272	25	company	company	NOUN
hassl-3690	272	26	.	.	PUNCT
hassl-3690	273	1	vt	vt	NOUN
hassl-3690	273	2	=	=	NOUN
hassl-3690	273	3	turnover	turnover	NOUN
hassl-3690	273	4	volume	volume	NOUN
hassl-3690	273	5	.	.	PUNCT
hassl-3690	274	1	indt	indt	NOUN
hassl-3690	274	2	:	:	PUNCT
hassl-3690	274	3	dummy	dummy	ADJ
hassl-3690	274	4	variable	variable	NOUN
hassl-3690	274	5	,	,	PUNCT
hassl-3690	274	6	manufacturing	manufacturing	NOUN
hassl-3690	274	7	firm	firm	NOUN
hassl-3690	274	8	:	:	PUNCT
hassl-3690	274	9	1	1	NUM
hassl-3690	274	10	and	and	CCONJ
hassl-3690	274	11	non	non	ADJ
hassl-3690	274	12	-	-	ADJ
hassl-3690	274	13	manufacturing	manufacturing	ADJ
hassl-3690	274	14	:	:	PUNCT
hassl-3690	274	15	0	0	X
hassl-3690	274	16	.	.	X
hassl-3690	275	1	humanities	humanity	NOUN
hassl-3690	275	2	and	and	CCONJ
hassl-3690	275	3	social	social	ADJ
hassl-3690	275	4	sciences	science	NOUN
hassl-3690	275	5	letters	letter	NOUN
hassl-3690	275	6	,	,	PUNCT
hassl-3690	275	7	2024	2024	NUM
hassl-3690	275	8	,	,	PUNCT
hassl-3690	275	9	12(2	12(2	NUM
hassl-3690	275	10	):	):	PUNCT
hassl-3690	275	11	218	218	NUM
hassl-3690	275	12	-	-	SYM
hassl-3690	275	13	232	232	NUM
hassl-3690	275	14	227	227	NUM
hassl-3690	275	15	©	©	PROPN
hassl-3690	275	16	2024	2024	NUM
hassl-3690	275	17	conscientia	conscientia	PROPN
hassl-3690	275	18	beam	beam	PROPN
hassl-3690	275	19	.	.	PUNCT
hassl-3690	276	1	all	all	DET
hassl-3690	276	2	rights	right	NOUN
hassl-3690	276	3	reserved	reserve	VERB
hassl-3690	276	4	.	.	PUNCT
hassl-3690	277	1	the	the	DET
hassl-3690	277	2	average	average	ADJ
hassl-3690	277	3	value	value	NOUN
hassl-3690	277	4	of	of	ADP
hassl-3690	277	5	assets	asset	NOUN
hassl-3690	277	6	owned	own	VERB
hassl-3690	277	7	by	by	ADP
hassl-3690	277	8	the	the	DET
hassl-3690	277	9	company	company	NOUN
hassl-3690	277	10	is	be	AUX
hassl-3690	277	11	rp	rp	NOUN
hassl-3690	277	12	.	.	PROPN
hassl-3690	277	13	4	4	NUM
hassl-3690	277	14	trillion	trillion	NUM
hassl-3690	277	15	.	.	PUNCT
hassl-3690	278	1	the	the	DET
hassl-3690	278	2	minimum	minimum	ADJ
hassl-3690	278	3	asset	asset	NOUN
hassl-3690	278	4	value	value	NOUN
hassl-3690	278	5	is	be	AUX
hassl-3690	278	6	rp	rp	NOUN
hassl-3690	278	7	.	.	PROPN
hassl-3690	279	1	two	two	NUM
hassl-3690	279	2	hundred	hundred	NUM
hassl-3690	279	3	six	six	NUM
hassl-3690	279	4	billion	billion	NUM
hassl-3690	279	5	and	and	CCONJ
hassl-3690	279	6	the	the	DET
hassl-3690	279	7	maximum	maximum	ADJ
hassl-3690	279	8	asset	asset	NOUN
hassl-3690	279	9	value	value	NOUN
hassl-3690	279	10	is	be	AUX
hassl-3690	279	11	rp	rp	NOUN
hassl-3690	279	12	.	.	PROPN
hassl-3690	280	1	156	156	NUM
hassl-3690	280	2	trillion	trillion	NUM
hassl-3690	280	3	.	.	PUNCT
hassl-3690	281	1	there	there	PRON
hassl-3690	281	2	is	be	VERB
hassl-3690	281	3	a	a	DET
hassl-3690	281	4	high	high	ADJ
hassl-3690	281	5	distribution	distribution	NOUN
hassl-3690	281	6	between	between	ADP
hassl-3690	281	7	one	one	NUM
hassl-3690	281	8	company	company	NOUN
hassl-3690	281	9	and	and	CCONJ
hassl-3690	281	10	another	another	PRON
hassl-3690	281	11	in	in	ADP
hassl-3690	281	12	this	this	DET
hassl-3690	281	13	study	study	NOUN
hassl-3690	281	14	's	's	PART
hassl-3690	281	15	sample	sample	NOUN
hassl-3690	281	16	,	,	PUNCT
hassl-3690	281	17	so	so	SCONJ
hassl-3690	281	18	there	there	PRON
hassl-3690	281	19	is	be	VERB
hassl-3690	281	20	a	a	DET
hassl-3690	281	21	large	large	ADJ
hassl-3690	281	22	imbalance	imbalance	NOUN
hassl-3690	281	23	in	in	ADP
hassl-3690	281	24	the	the	DET
hassl-3690	281	25	total	total	ADJ
hassl-3690	281	26	assets	asset	NOUN
hassl-3690	281	27	of	of	ADP
hassl-3690	281	28	one	one	NUM
hassl-3690	281	29	company	company	NOUN
hassl-3690	281	30	and	and	CCONJ
hassl-3690	281	31	other	other	ADJ
hassl-3690	281	32	companies	company	NOUN
hassl-3690	281	33	.	.	PUNCT
hassl-3690	282	1	the	the	DET
hassl-3690	282	2	average	average	ADJ
hassl-3690	282	3	company	company	NOUN
hassl-3690	282	4	has	have	VERB
hassl-3690	282	5	a	a	DET
hassl-3690	282	6	lifespan	lifespan	NOUN
hassl-3690	282	7	of	of	ADP
hassl-3690	282	8	34	34	NUM
hassl-3690	282	9	-	-	SYM
hassl-3690	282	10	35	35	NUM
hassl-3690	282	11	years	year	NOUN
hassl-3690	282	12	.	.	PUNCT
hassl-3690	283	1	the	the	DET
hassl-3690	283	2	average	average	ADJ
hassl-3690	283	3	leverage	leverage	NOUN
hassl-3690	283	4	for	for	ADP
hassl-3690	283	5	the	the	DET
hassl-3690	283	6	corporation	corporation	NOUN
hassl-3690	283	7	is	be	AUX
hassl-3690	283	8	0.454	0.454	NUM
hassl-3690	283	9	which	which	PRON
hassl-3690	283	10	indicates	indicate	VERB
hassl-3690	283	11	that	that	SCONJ
hassl-3690	283	12	45.4	45.4	NUM
hassl-3690	283	13	percent	percent	NOUN
hassl-3690	283	14	of	of	ADP
hassl-3690	283	15	its	its	PRON
hassl-3690	283	16	total	total	ADJ
hassl-3690	283	17	assets	asset	NOUN
hassl-3690	283	18	are	be	AUX
hassl-3690	283	19	financed	finance	VERB
hassl-3690	283	20	by	by	ADP
hassl-3690	283	21	debt	debt	NOUN
hassl-3690	283	22	on	on	ADP
hassl-3690	283	23	average	average	ADJ
hassl-3690	283	24	.	.	PUNCT
hassl-3690	284	1	a	a	DET
hassl-3690	284	2	stand	stand	NOUN
hassl-3690	284	3	-	-	PUNCT
hassl-3690	284	4	in	in	NOUN
hassl-3690	284	5	for	for	ADP
hassl-3690	284	6	profitability	profitability	NOUN
hassl-3690	284	7	is	be	AUX
hassl-3690	284	8	return	return	NOUN
hassl-3690	284	9	on	on	ADP
hassl-3690	284	10	assets	asset	NOUN
hassl-3690	284	11	(	(	PUNCT
hassl-3690	284	12	roa	roa	NOUN
hassl-3690	284	13	)	)	PUNCT
hassl-3690	284	14	.	.	PUNCT
hassl-3690	285	1	on	on	ADP
hassl-3690	285	2	average	average	ADJ
hassl-3690	285	3	,	,	PUNCT
hassl-3690	285	4	roa	roa	PROPN
hassl-3690	285	5	is	be	AUX
hassl-3690	285	6	0.029	0.029	NUM
hassl-3690	285	7	.	.	PUNCT
hassl-3690	286	1	this	this	PRON
hassl-3690	286	2	shows	show	VERB
hassl-3690	286	3	that	that	SCONJ
hassl-3690	286	4	the	the	DET
hassl-3690	286	5	sample	sample	NOUN
hassl-3690	286	6	mean	mean	NOUN
hassl-3690	286	7	's	's	PART
hassl-3690	286	8	profitability	profitability	NOUN
hassl-3690	286	9	is	be	AUX
hassl-3690	286	10	typically	typically	ADV
hassl-3690	286	11	quite	quite	ADV
hassl-3690	286	12	low	low	ADJ
hassl-3690	286	13	.	.	PUNCT
hassl-3690	287	1	for	for	ADP
hassl-3690	287	2	industry	industry	NOUN
hassl-3690	287	3	categories	category	NOUN
hassl-3690	287	4	,	,	PUNCT
hassl-3690	287	5	indt	indt	NOUN
hassl-3690	287	6	is	be	AUX
hassl-3690	287	7	a	a	DET
hassl-3690	287	8	dummy	dummy	ADJ
hassl-3690	287	9	variable	variable	NOUN
hassl-3690	287	10	.	.	PUNCT
hassl-3690	288	1	manufacturers	manufacturer	NOUN
hassl-3690	288	2	are	be	AUX
hassl-3690	288	3	represented	represent	VERB
hassl-3690	288	4	by	by	ADP
hassl-3690	288	5	companies	company	NOUN
hassl-3690	288	6	with	with	ADP
hassl-3690	288	7	a	a	DET
hassl-3690	288	8	value	value	NOUN
hassl-3690	288	9	of	of	ADP
hassl-3690	288	10	1	1	NUM
hassl-3690	288	11	and	and	CCONJ
hassl-3690	288	12	non	non	ADJ
hassl-3690	288	13	-	-	ADJ
hassl-3690	288	14	manufacturing	manufacturing	ADJ
hassl-3690	288	15	companies	company	NOUN
hassl-3690	288	16	are	be	AUX
hassl-3690	288	17	represented	represent	VERB
hassl-3690	288	18	by	by	ADP
hassl-3690	288	19	companies	company	NOUN
hassl-3690	288	20	with	with	ADP
hassl-3690	288	21	a	a	DET
hassl-3690	288	22	value	value	NOUN
hassl-3690	288	23	of	of	ADP
hassl-3690	288	24	0	0	NUM
hassl-3690	288	25	.	.	PUNCT
hassl-3690	289	1	overall	overall	ADJ
hassl-3690	289	2	,	,	PUNCT
hassl-3690	289	3	the	the	DET
hassl-3690	289	4	average	average	ADJ
hassl-3690	289	5	value	value	NOUN
hassl-3690	289	6	is	be	AUX
hassl-3690	289	7	0.331	0.331	NUM
hassl-3690	289	8	with	with	ADP
hassl-3690	289	9	a	a	DET
hassl-3690	289	10	0.476	0.476	NUM
hassl-3690	289	11	standard	standard	ADJ
hassl-3690	289	12	deviation	deviation	NOUN
hassl-3690	289	13	.	.	PUNCT
hassl-3690	290	1	5	5	X
hassl-3690	290	2	.	.	X
hassl-3690	290	3	discussion	discussion	NOUN
hassl-3690	290	4	the	the	DET
hassl-3690	290	5	results	result	NOUN
hassl-3690	290	6	of	of	ADP
hassl-3690	290	7	the	the	DET
hassl-3690	290	8	research	research	NOUN
hassl-3690	290	9	hypothesis	hypothesis	NOUN
hassl-3690	290	10	test	test	NOUN
hassl-3690	290	11	are	be	AUX
hassl-3690	290	12	shown	show	VERB
hassl-3690	290	13	in	in	ADP
hassl-3690	290	14	table	table	NOUN
hassl-3690	290	15	2	2	NUM
hassl-3690	290	16	.	.	PUNCT
hassl-3690	291	1	the	the	DET
hassl-3690	291	2	results	result	NOUN
hassl-3690	291	3	showed	show	VERB
hassl-3690	291	4	that	that	SCONJ
hassl-3690	291	5	large	large	ADJ
hassl-3690	291	6	shareholders	shareholder	NOUN
hassl-3690	291	7	positively	positively	ADV
hassl-3690	291	8	affect	affect	VERB
hassl-3690	291	9	idiosyncratic	idiosyncratic	ADJ
hassl-3690	291	10	risk	risk	NOUN
hassl-3690	291	11	which	which	PRON
hassl-3690	291	12	means	mean	VERB
hassl-3690	291	13	that	that	SCONJ
hassl-3690	291	14	they	they	PRON
hassl-3690	291	15	support	support	VERB
hassl-3690	291	16	hypothesis	hypothesis	NOUN
hassl-3690	291	17	1	1	NUM
hassl-3690	291	18	.	.	PUNCT
hassl-3690	292	1	the	the	PRON
hassl-3690	292	2	higher	high	ADJ
hassl-3690	292	3	the	the	DET
hassl-3690	292	4	number	number	NOUN
hassl-3690	292	5	of	of	ADP
hassl-3690	292	6	large	large	ADJ
hassl-3690	292	7	shareholders	shareholder	NOUN
hassl-3690	292	8	,	,	PUNCT
hassl-3690	292	9	the	the	PRON
hassl-3690	292	10	higher	high	ADJ
hassl-3690	292	11	the	the	DET
hassl-3690	292	12	idiosyncratic	idiosyncratic	ADJ
hassl-3690	292	13	risk	risk	NOUN
hassl-3690	292	14	that	that	PRON
hassl-3690	292	15	occurs	occur	VERB
hassl-3690	292	16	.	.	PUNCT
hassl-3690	293	1	makhija	makhija	NOUN
hassl-3690	293	2	and	and	CCONJ
hassl-3690	293	3	patton	patton	PROPN
hassl-3690	293	4	(	(	PUNCT
hassl-3690	293	5	2004	2004	NUM
hassl-3690	293	6	)	)	PUNCT
hassl-3690	293	7	stated	state	VERB
hassl-3690	293	8	that	that	SCONJ
hassl-3690	293	9	the	the	PRON
hassl-3690	293	10	higher	high	ADJ
hassl-3690	293	11	the	the	DET
hassl-3690	293	12	large	large	ADJ
hassl-3690	293	13	shareholders	shareholder	NOUN
hassl-3690	293	14	indirectly	indirectly	ADV
hassl-3690	293	15	weaken	weaken	VERB
hassl-3690	293	16	disclosure	disclosure	NOUN
hassl-3690	293	17	due	due	ADP
hassl-3690	293	18	to	to	ADP
hassl-3690	293	19	conflict	conflict	NOUN
hassl-3690	293	20	interests	interest	NOUN
hassl-3690	293	21	that	that	PRON
hassl-3690	293	22	potentially	potentially	ADV
hassl-3690	293	23	increase	increase	VERB
hassl-3690	293	24	the	the	DET
hassl-3690	293	25	company	company	NOUN
hassl-3690	293	26	's	's	PART
hassl-3690	293	27	risk	risk	NOUN
hassl-3690	293	28	.	.	PUNCT
hassl-3690	294	1	the	the	DET
hassl-3690	294	2	results	result	NOUN
hassl-3690	294	3	of	of	ADP
hassl-3690	294	4	this	this	DET
hassl-3690	294	5	study	study	NOUN
hassl-3690	294	6	are	be	AUX
hassl-3690	294	7	also	also	ADV
hassl-3690	294	8	supported	support	VERB
hassl-3690	294	9	by	by	ADP
hassl-3690	294	10	utama	utama	PROPN
hassl-3690	294	11	and	and	CCONJ
hassl-3690	294	12	utama	utama	PROPN
hassl-3690	294	13	(	(	PUNCT
hassl-3690	294	14	2014	2014	NUM
hassl-3690	294	15	)	)	PUNCT
hassl-3690	294	16	who	who	PRON
hassl-3690	294	17	found	find	VERB
hassl-3690	294	18	that	that	SCONJ
hassl-3690	294	19	with	with	ADP
hassl-3690	294	20	the	the	DET
hassl-3690	294	21	existence	existence	NOUN
hassl-3690	294	22	of	of	ADP
hassl-3690	294	23	large	large	ADJ
hassl-3690	294	24	shareholders	shareholder	NOUN
hassl-3690	294	25	,	,	PUNCT
hassl-3690	294	26	there	there	PRON
hassl-3690	294	27	is	be	VERB
hassl-3690	294	28	a	a	DET
hassl-3690	294	29	higher	high	ADJ
hassl-3690	294	30	possibility	possibility	NOUN
hassl-3690	294	31	of	of	ADP
hassl-3690	294	32	expropriation	expropriation	NOUN
hassl-3690	294	33	in	in	ADP
hassl-3690	294	34	the	the	DET
hassl-3690	294	35	transfer	transfer	NOUN
hassl-3690	294	36	of	of	ADP
hassl-3690	294	37	cash	cash	NOUN
hassl-3690	294	38	flows	flow	NOUN
hassl-3690	294	39	,	,	PUNCT
hassl-3690	294	40	assets	asset	NOUN
hassl-3690	294	41	or	or	CCONJ
hassl-3690	294	42	shares	share	NOUN
hassl-3690	294	43	.	.	PUNCT
hassl-3690	295	1	the	the	DET
hassl-3690	295	2	results	result	NOUN
hassl-3690	295	3	of	of	ADP
hassl-3690	295	4	this	this	DET
hassl-3690	295	5	study	study	NOUN
hassl-3690	295	6	are	be	AUX
hassl-3690	295	7	in	in	ADP
hassl-3690	295	8	contrast	contrast	NOUN
hassl-3690	295	9	to	to	ADP
hassl-3690	295	10	those	those	PRON
hassl-3690	295	11	of	of	ADP
hassl-3690	295	12	lehmann	lehmann	PROPN
hassl-3690	295	13	and	and	CCONJ
hassl-3690	295	14	weigand	weigand	PROPN
hassl-3690	295	15	(	(	PUNCT
hassl-3690	295	16	2000	2000	NUM
hassl-3690	295	17	)	)	PUNCT
hassl-3690	295	18	who	who	PRON
hassl-3690	295	19	state	state	VERB
hassl-3690	295	20	that	that	SCONJ
hassl-3690	295	21	large	large	ADJ
hassl-3690	295	22	shareholders	shareholder	NOUN
hassl-3690	295	23	will	will	AUX
hassl-3690	295	24	contribute	contribute	VERB
hassl-3690	295	25	to	to	ADP
hassl-3690	295	26	good	good	ADJ
hassl-3690	295	27	decision	decision	NOUN
hassl-3690	295	28	-	-	PUNCT
hassl-3690	295	29	making	making	NOUN
hassl-3690	295	30	for	for	ADP
hassl-3690	295	31	the	the	DET
hassl-3690	295	32	company	company	NOUN
hassl-3690	295	33	.	.	PUNCT
hassl-3690	296	1	according	accord	VERB
hassl-3690	296	2	to	to	ADP
hassl-3690	296	3	shleifer	shleifer	PROPN
hassl-3690	296	4	and	and	CCONJ
hassl-3690	296	5	vishny	vishny	PROPN
hassl-3690	296	6	(	(	PUNCT
hassl-3690	296	7	1997	1997	NUM
hassl-3690	296	8	)	)	PUNCT
hassl-3690	296	9	,	,	PUNCT
hassl-3690	296	10	there	there	PRON
hassl-3690	296	11	is	be	VERB
hassl-3690	296	12	a	a	DET
hassl-3690	296	13	beneficial	beneficial	ADJ
hassl-3690	296	14	relationship	relationship	NOUN
hassl-3690	296	15	between	between	ADP
hassl-3690	296	16	share	share	NOUN
hassl-3690	296	17	ownership	ownership	NOUN
hassl-3690	296	18	and	and	CCONJ
hassl-3690	296	19	the	the	DET
hassl-3690	296	20	propensity	propensity	NOUN
hassl-3690	296	21	to	to	PART
hassl-3690	296	22	hedge	hedge	VERB
hassl-3690	296	23	to	to	ADP
hassl-3690	296	24	lower	low	ADJ
hassl-3690	296	25	risk	risk	NOUN
hassl-3690	296	26	because	because	SCONJ
hassl-3690	296	27	the	the	DET
hassl-3690	296	28	owner	owner	NOUN
hassl-3690	296	29	wants	want	VERB
hassl-3690	296	30	to	to	PART
hassl-3690	296	31	keep	keep	VERB
hassl-3690	296	32	his	his	PRON
hassl-3690	296	33	level	level	NOUN
hassl-3690	296	34	of	of	ADP
hassl-3690	296	35	wealth	wealth	NOUN
hassl-3690	296	36	.	.	PUNCT
hassl-3690	297	1	attig	attig	PROPN
hassl-3690	297	2	et	et	PROPN
hassl-3690	297	3	al	al	PROPN
hassl-3690	297	4	.	.	PROPN
hassl-3690	298	1	(	(	PUNCT
hassl-3690	298	2	2009	2009	NUM
hassl-3690	298	3	)	)	PUNCT
hassl-3690	298	4	support	support	VERB
hassl-3690	298	5	the	the	DET
hassl-3690	298	6	idea	idea	NOUN
hassl-3690	298	7	that	that	SCONJ
hassl-3690	298	8	the	the	DET
hassl-3690	298	9	existence	existence	NOUN
hassl-3690	298	10	of	of	ADP
hassl-3690	298	11	large	large	ADJ
hassl-3690	298	12	shareholders	shareholder	NOUN
hassl-3690	298	13	in	in	ADP
hassl-3690	298	14	the	the	DET
hassl-3690	298	15	company	company	NOUN
hassl-3690	298	16	can	can	AUX
hassl-3690	298	17	minimize	minimize	VERB
hassl-3690	298	18	the	the	DET
hassl-3690	298	19	risk	risk	NOUN
hassl-3690	298	20	because	because	SCONJ
hassl-3690	298	21	large	large	ADJ
hassl-3690	298	22	shareholders	shareholder	NOUN
hassl-3690	298	23	do	do	AUX
hassl-3690	298	24	monitor	monitor	VERB
hassl-3690	298	25	which	which	PRON
hassl-3690	298	26	can	can	AUX
hassl-3690	298	27	increase	increase	VERB
hassl-3690	298	28	corporate	corporate	ADJ
hassl-3690	298	29	governance	governance	NOUN
hassl-3690	298	30	.	.	PUNCT
hassl-3690	299	1	the	the	DET
hassl-3690	299	2	controlling	control	VERB
hassl-3690	299	3	shareholder	shareholder	NOUN
hassl-3690	299	4	controls	control	VERB
hassl-3690	299	5	share	share	NOUN
hassl-3690	299	6	ownership	ownership	NOUN
hassl-3690	299	7	in	in	ADP
hassl-3690	299	8	developing	develop	VERB
hassl-3690	299	9	country	country	NOUN
hassl-3690	299	10	enterprises	enterprise	NOUN
hassl-3690	299	11	including	include	VERB
hassl-3690	299	12	indonesia	indonesia	PROPN
hassl-3690	299	13	due	due	ADP
hassl-3690	299	14	to	to	ADP
hassl-3690	299	15	the	the	DET
hassl-3690	299	16	structure	structure	NOUN
hassl-3690	299	17	of	of	ADP
hassl-3690	299	18	ownership	ownership	NOUN
hassl-3690	299	19	pyramids	pyramid	NOUN
hassl-3690	299	20	and	and	CCONJ
hassl-3690	299	21	cross	cross	NOUN
hassl-3690	299	22	-	-	NOUN
hassl-3690	299	23	ownership	ownership	NOUN
hassl-3690	299	24	(	(	PUNCT
hassl-3690	299	25	claessens	claessen	NOUN
hassl-3690	299	26	et	et	PROPN
hassl-3690	299	27	al	al	PROPN
hassl-3690	299	28	.	.	PROPN
hassl-3690	299	29	,	,	PUNCT
hassl-3690	299	30	2000	2000	NUM
hassl-3690	299	31	;	;	PUNCT
hassl-3690	299	32	faccio	faccio	PROPN
hassl-3690	299	33	,	,	PUNCT
hassl-3690	299	34	morck	morck	PROPN
hassl-3690	299	35	,	,	PUNCT
hassl-3690	299	36	&	&	CCONJ
hassl-3690	299	37	yavuz	yavuz	PROPN
hassl-3690	299	38	,	,	PUNCT
hassl-3690	299	39	2021	2021	NUM
hassl-3690	299	40	;	;	PUNCT
hassl-3690	299	41	la	la	PROPN
hassl-3690	299	42	porta	porta	NOUN
hassl-3690	299	43	et	et	PROPN
hassl-3690	299	44	al	al	PROPN
hassl-3690	299	45	.	.	PROPN
hassl-3690	299	46	,	,	PUNCT
hassl-3690	299	47	1999	1999	NUM
hassl-3690	299	48	)	)	PUNCT
hassl-3690	299	49	.	.	PUNCT
hassl-3690	300	1	ownership	ownership	NOUN
hassl-3690	300	2	held	hold	VERB
hassl-3690	300	3	by	by	ADP
hassl-3690	300	4	large	large	ADJ
hassl-3690	300	5	shareholders	shareholder	NOUN
hassl-3690	300	6	enables	enable	VERB
hassl-3690	300	7	the	the	DET
hassl-3690	300	8	use	use	NOUN
hassl-3690	300	9	of	of	ADP
hassl-3690	300	10	power	power	NOUN
hassl-3690	300	11	to	to	PART
hassl-3690	300	12	determine	determine	VERB
hassl-3690	300	13	financial	financial	ADJ
hassl-3690	300	14	policy	policy	NOUN
hassl-3690	300	15	and	and	CCONJ
hassl-3690	300	16	company	company	NOUN
hassl-3690	300	17	operations	operation	NOUN
hassl-3690	300	18	.	.	PUNCT
hassl-3690	301	1	jensen	jensen	PROPN
hassl-3690	301	2	and	and	CCONJ
hassl-3690	301	3	meckling	meckling	NOUN
hassl-3690	301	4	(	(	PUNCT
hassl-3690	301	5	1976	1976	NUM
hassl-3690	301	6	)	)	PUNCT
hassl-3690	301	7	state	state	NOUN
hassl-3690	301	8	that	that	SCONJ
hassl-3690	301	9	the	the	DET
hassl-3690	301	10	largest	large	ADJ
hassl-3690	301	11	shareholder	shareholder	NOUN
hassl-3690	301	12	as	as	ADP
hassl-3690	301	13	the	the	DET
hassl-3690	301	14	controlling	control	VERB
hassl-3690	301	15	shareholder	shareholder	NOUN
hassl-3690	301	16	will	will	AUX
hassl-3690	301	17	be	be	AUX
hassl-3690	301	18	more	more	ADV
hassl-3690	301	19	intense	intense	ADJ
hassl-3690	301	20	in	in	ADP
hassl-3690	301	21	supervising	supervise	VERB
hassl-3690	301	22	.	.	PUNCT
hassl-3690	302	1	the	the	DET
hassl-3690	302	2	same	same	ADJ
hassl-3690	302	3	was	be	AUX
hassl-3690	302	4	also	also	ADV
hassl-3690	302	5	found	find	VERB
hassl-3690	302	6	by	by	ADP
hassl-3690	302	7	auvray	auvray	NOUN
hassl-3690	302	8	and	and	CCONJ
hassl-3690	302	9	brossard	brossard	PROPN
hassl-3690	302	10	(	(	PUNCT
hassl-3690	302	11	2012	2012	NUM
hassl-3690	302	12	)	)	PUNCT
hassl-3690	302	13	that	that	DET
hassl-3690	302	14	ownership	ownership	NOUN
hassl-3690	302	15	with	with	ADP
hassl-3690	302	16	a	a	DET
hassl-3690	302	17	high	high	ADJ
hassl-3690	302	18	concentration	concentration	NOUN
hassl-3690	302	19	of	of	ADP
hassl-3690	302	20	supervision	supervision	NOUN
hassl-3690	302	21	will	will	AUX
hassl-3690	302	22	be	be	AUX
hassl-3690	302	23	better	well	ADJ
hassl-3690	302	24	.	.	PUNCT
hassl-3690	303	1	leech	leech	NOUN
hassl-3690	303	2	and	and	CCONJ
hassl-3690	303	3	leahy	leahy	PROPN
hassl-3690	303	4	(	(	PUNCT
hassl-3690	303	5	1991	1991	NUM
hassl-3690	303	6	)	)	PUNCT
hassl-3690	303	7	stated	state	VERB
hassl-3690	303	8	that	that	SCONJ
hassl-3690	303	9	company	company	NOUN
hassl-3690	303	10	performance	performance	NOUN
hassl-3690	303	11	is	be	AUX
hassl-3690	303	12	assessed	assess	VERB
hassl-3690	303	13	by	by	ADP
hassl-3690	303	14	the	the	DET
hassl-3690	303	15	concentration	concentration	NOUN
hassl-3690	303	16	of	of	ADP
hassl-3690	303	17	ownership	ownership	NOUN
hassl-3690	303	18	because	because	SCONJ
hassl-3690	303	19	of	of	ADP
hassl-3690	303	20	the	the	DET
hassl-3690	303	21	shared	share	VERB
hassl-3690	303	22	ownership	ownership	NOUN
hassl-3690	303	23	structure	structure	NOUN
hassl-3690	303	24	.	.	PUNCT
hassl-3690	304	1	distributed	distribute	VERB
hassl-3690	304	2	and	and	CCONJ
hassl-3690	304	3	concentrated	concentrated	ADJ
hassl-3690	304	4	ownership	ownership	NOUN
hassl-3690	304	5	have	have	VERB
hassl-3690	304	6	different	different	ADJ
hassl-3690	304	7	functions	function	NOUN
hassl-3690	304	8	.	.	PUNCT
hassl-3690	305	1	shared	share	VERB
hassl-3690	305	2	ownership	ownership	NOUN
hassl-3690	305	3	implies	imply	VERB
hassl-3690	305	4	that	that	SCONJ
hassl-3690	305	5	no	no	DET
hassl-3690	305	6	one	one	NOUN
hassl-3690	305	7	or	or	CCONJ
hassl-3690	305	8	organisation	organisation	NOUN
hassl-3690	305	9	has	have	VERB
hassl-3690	305	10	the	the	DET
hassl-3690	305	11	power	power	NOUN
hassl-3690	305	12	to	to	PART
hassl-3690	305	13	impose	impose	VERB
hassl-3690	305	14	control	control	NOUN
hassl-3690	305	15	on	on	ADP
hassl-3690	305	16	or	or	CCONJ
hassl-3690	305	17	compel	compel	VERB
hassl-3690	305	18	another	another	DET
hassl-3690	305	19	party	party	NOUN
hassl-3690	305	20	in	in	ADP
hassl-3690	305	21	order	order	NOUN
hassl-3690	305	22	to	to	PART
hassl-3690	305	23	maximise	maximise	VERB
hassl-3690	305	24	profits	profit	NOUN
hassl-3690	305	25	.	.	PUNCT
hassl-3690	306	1	in	in	ADP
hassl-3690	306	2	contrast	contrast	NOUN
hassl-3690	306	3	,	,	PUNCT
hassl-3690	306	4	controlling	control	VERB
hassl-3690	306	5	shareholders	shareholder	NOUN
hassl-3690	306	6	will	will	AUX
hassl-3690	306	7	effectively	effectively	ADV
hassl-3690	306	8	control	control	VERB
hassl-3690	306	9	the	the	DET
hassl-3690	306	10	company	company	NOUN
hassl-3690	306	11	(	(	PUNCT
hassl-3690	306	12	claessens	claessen	VERB
hassl-3690	306	13	et	et	PROPN
hassl-3690	306	14	al	al	PROPN
hassl-3690	306	15	.	.	PROPN
hassl-3690	306	16	,	,	PUNCT
hassl-3690	306	17	2000	2000	NUM
hassl-3690	306	18	)	)	PUNCT
hassl-3690	306	19	.	.	PUNCT
hassl-3690	307	1	la	la	PROPN
hassl-3690	307	2	porta	porta	PROPN
hassl-3690	307	3	et	et	PROPN
hassl-3690	307	4	al	al	PROPN
hassl-3690	307	5	.	.	PROPN
hassl-3690	308	1	(	(	PUNCT
hassl-3690	308	2	1999	1999	NUM
hassl-3690	308	3	)	)	PUNCT
hassl-3690	308	4	argue	argue	VERB
hassl-3690	308	5	that	that	SCONJ
hassl-3690	308	6	large	large	ADJ
hassl-3690	308	7	shareholders	shareholder	NOUN
hassl-3690	308	8	will	will	AUX
hassl-3690	308	9	make	make	VERB
hassl-3690	308	10	controlling	control	VERB
hassl-3690	308	11	shareholders	shareholder	NOUN
hassl-3690	308	12	.	.	PUNCT
hassl-3690	309	1	according	accord	VERB
hassl-3690	309	2	to	to	ADP
hassl-3690	309	3	claessens	claessen	NOUN
hassl-3690	309	4	et	et	PROPN
hassl-3690	309	5	al	al	PROPN
hassl-3690	309	6	.	.	PUNCT
hassl-3690	310	1	(	(	PUNCT
hassl-3690	310	2	2000	2000	NUM
hassl-3690	310	3	)	)	PUNCT
hassl-3690	310	4	,	,	PUNCT
hassl-3690	310	5	agencies	agency	NOUN
hassl-3690	310	6	that	that	PRON
hassl-3690	310	7	have	have	VERB
hassl-3690	310	8	divisions	division	NOUN
hassl-3690	310	9	in	in	ADP
hassl-3690	310	10	ownership	ownership	NOUN
hassl-3690	310	11	and	and	CCONJ
hassl-3690	310	12	control	control	NOUN
hassl-3690	310	13	over	over	ADP
hassl-3690	310	14	their	their	PRON
hassl-3690	310	15	companies	company	NOUN
hassl-3690	310	16	are	be	AUX
hassl-3690	310	17	more	more	ADV
hassl-3690	310	18	likely	likely	ADJ
hassl-3690	310	19	to	to	PART
hassl-3690	310	20	experience	experience	VERB
hassl-3690	310	21	agency	agency	NOUN
hassl-3690	310	22	conflict	conflict	NOUN
hassl-3690	310	23	.	.	PUNCT
hassl-3690	311	1	this	this	PRON
hassl-3690	311	2	is	be	AUX
hassl-3690	311	3	especially	especially	ADV
hassl-3690	311	4	true	true	ADJ
hassl-3690	311	5	for	for	ADP
hassl-3690	311	6	enterprises	enterprise	NOUN
hassl-3690	311	7	operating	operate	VERB
hassl-3690	311	8	in	in	ADP
hassl-3690	311	9	asia	asia	PROPN
hassl-3690	311	10	.	.	PUNCT
hassl-3690	312	1	the	the	DET
hassl-3690	312	2	features	feature	NOUN
hassl-3690	312	3	of	of	ADP
hassl-3690	312	4	concentrated	concentrated	ADJ
hassl-3690	312	5	ownership	ownership	NOUN
hassl-3690	312	6	are	be	AUX
hassl-3690	312	7	present	present	ADJ
hassl-3690	312	8	in	in	ADP
hassl-3690	312	9	indonesia	indonesia	PROPN
hassl-3690	312	10	.	.	PUNCT
hassl-3690	313	1	companies	company	NOUN
hassl-3690	313	2	with	with	ADP
hassl-3690	313	3	concentrated	concentrated	ADJ
hassl-3690	313	4	ownership	ownership	NOUN
hassl-3690	313	5	experience	experience	NOUN
hassl-3690	313	6	agency	agency	NOUN
hassl-3690	313	7	conflict	conflict	NOUN
hassl-3690	313	8	due	due	ADP
hassl-3690	313	9	to	to	ADP
hassl-3690	313	10	several	several	ADJ
hassl-3690	313	11	factors	factor	NOUN
hassl-3690	313	12	including	include	VERB
hassl-3690	313	13	large	large	ADJ
hassl-3690	313	14	shareholders	shareholder	NOUN
hassl-3690	313	15	who	who	PRON
hassl-3690	313	16	take	take	VERB
hassl-3690	313	17	on	on	ADP
hassl-3690	313	18	dominant	dominant	ADJ
hassl-3690	313	19	roles	role	NOUN
hassl-3690	313	20	with	with	ADP
hassl-3690	313	21	fewer	few	ADJ
hassl-3690	313	22	shareholders	shareholder	NOUN
hassl-3690	313	23	.	.	PUNCT
hassl-3690	314	1	agency	agency	NOUN
hassl-3690	314	2	problems	problem	NOUN
hassl-3690	314	3	arise	arise	VERB
hassl-3690	314	4	because	because	SCONJ
hassl-3690	314	5	large	large	ADJ
hassl-3690	314	6	shareholders	shareholder	NOUN
hassl-3690	314	7	have	have	VERB
hassl-3690	314	8	greater	great	ADJ
hassl-3690	314	9	control	control	NOUN
hassl-3690	314	10	over	over	ADP
hassl-3690	314	11	the	the	DET
hassl-3690	314	12	excessive	excessive	ADJ
hassl-3690	314	13	use	use	NOUN
hassl-3690	314	14	of	of	ADP
hassl-3690	314	15	company	company	NOUN
hassl-3690	314	16	policies	policy	NOUN
hassl-3690	314	17	for	for	ADP
hassl-3690	314	18	personal	personal	ADJ
hassl-3690	314	19	gain	gain	NOUN
hassl-3690	314	20	.	.	PUNCT
hassl-3690	315	1	direct	direct	ADJ
hassl-3690	315	2	relationships	relationship	NOUN
hassl-3690	315	3	with	with	ADP
hassl-3690	315	4	multiple	multiple	ADJ
hassl-3690	315	5	directorships	directorship	NOUN
hassl-3690	315	6	can	can	AUX
hassl-3690	315	7	reduce	reduce	VERB
hassl-3690	315	8	idiosyncratic	idiosyncratic	ADJ
hassl-3690	315	9	risk	risk	NOUN
hassl-3690	315	10	.	.	PUNCT
hassl-3690	316	1	indonesia	indonesia	PROPN
hassl-3690	316	2	has	have	VERB
hassl-3690	316	3	a	a	DET
hassl-3690	316	4	two	two	NUM
hassl-3690	316	5	-	-	PUNCT
hassl-3690	316	6	tier	tier	NOUN
hassl-3690	316	7	system	system	NOUN
hassl-3690	316	8	in	in	ADP
hassl-3690	316	9	which	which	PRON
hassl-3690	316	10	the	the	DET
hassl-3690	316	11	dean	dean	NOUN
hassl-3690	316	12	of	of	ADP
hassl-3690	316	13	commissioners	commissioner	NOUN
hassl-3690	316	14	and	and	CCONJ
hassl-3690	316	15	the	the	DET
hassl-3690	316	16	board	board	NOUN
hassl-3690	316	17	of	of	ADP
hassl-3690	316	18	directors	director	NOUN
hassl-3690	316	19	have	have	VERB
hassl-3690	316	20	different	different	ADJ
hassl-3690	316	21	tasks	task	NOUN
hassl-3690	316	22	and	and	CCONJ
hassl-3690	316	23	responsibilities	responsibility	NOUN
hassl-3690	316	24	.	.	PUNCT
hassl-3690	317	1	lu	lu	PROPN
hassl-3690	317	2	,	,	PUNCT
hassl-3690	317	3	wang	wang	PROPN
hassl-3690	317	4	,	,	PUNCT
hassl-3690	317	5	and	and	CCONJ
hassl-3690	317	6	dong	dong	PROPN
hassl-3690	317	7	(	(	PUNCT
hassl-3690	317	8	2013	2013	NUM
hassl-3690	317	9	)	)	PUNCT
hassl-3690	317	10	stated	state	VERB
hassl-3690	317	11	that	that	SCONJ
hassl-3690	317	12	multiple	multiple	ADJ
hassl-3690	317	13	directorships	directorship	NOUN
hassl-3690	317	14	in	in	ADP
hassl-3690	317	15	several	several	ADJ
hassl-3690	317	16	companies	company	NOUN
hassl-3690	317	17	could	could	AUX
hassl-3690	317	18	diversify	diversify	VERB
hassl-3690	317	19	the	the	DET
hassl-3690	317	20	experience	experience	NOUN
hassl-3690	317	21	of	of	ADP
hassl-3690	317	22	a	a	DET
hassl-3690	317	23	board	board	NOUN
hassl-3690	317	24	and	and	CCONJ
hassl-3690	317	25	be	be	AUX
hassl-3690	317	26	more	more	ADV
hassl-3690	317	27	helpful	helpful	ADJ
hassl-3690	317	28	in	in	ADP
hassl-3690	317	29	increasing	increase	VERB
hassl-3690	317	30	the	the	DET
hassl-3690	317	31	efficiency	efficiency	NOUN
hassl-3690	317	32	of	of	ADP
hassl-3690	317	33	decision	decision	NOUN
hassl-3690	317	34	-	-	PUNCT
hassl-3690	317	35	making	making	NOUN
hassl-3690	317	36	.	.	PUNCT
hassl-3690	318	1	the	the	DET
hassl-3690	318	2	findings	finding	NOUN
hassl-3690	318	3	of	of	ADP
hassl-3690	318	4	this	this	DET
hassl-3690	318	5	research	research	NOUN
hassl-3690	318	6	contradict	contradict	VERB
hassl-3690	318	7	those	those	PRON
hassl-3690	318	8	of	of	ADP
hassl-3690	318	9	pandey	pandey	PROPN
hassl-3690	318	10	,	,	PUNCT
hassl-3690	318	11	baker	baker	PROPN
hassl-3690	318	12	,	,	PUNCT
hassl-3690	318	13	kumar	kumar	PROPN
hassl-3690	318	14	,	,	PUNCT
hassl-3690	318	15	gupta	gupta	PROPN
hassl-3690	318	16	,	,	PUNCT
hassl-3690	318	17	and	and	CCONJ
hassl-3690	318	18	ali	ali	PROPN
hassl-3690	318	19	(	(	PUNCT
hassl-3690	318	20	2023	2023	NUM
hassl-3690	318	21	)	)	PUNCT
hassl-3690	318	22	who	who	PRON
hassl-3690	318	23	suggest	suggest	VERB
hassl-3690	318	24	that	that	SCONJ
hassl-3690	318	25	boards	board	NOUN
hassl-3690	318	26	of	of	ADP
hassl-3690	318	27	directors	director	NOUN
hassl-3690	318	28	of	of	ADP
hassl-3690	318	29	companies	company	NOUN
hassl-3690	318	30	with	with	ADP
hassl-3690	318	31	humanities	humanity	NOUN
hassl-3690	318	32	and	and	CCONJ
hassl-3690	318	33	social	social	ADJ
hassl-3690	318	34	sciences	science	NOUN
hassl-3690	318	35	letters	letter	NOUN
hassl-3690	318	36	,	,	PUNCT
hassl-3690	318	37	2024	2024	NUM
hassl-3690	318	38	,	,	PUNCT
hassl-3690	318	39	12(2	12(2	NUM
hassl-3690	318	40	):	):	PUNCT
hassl-3690	318	41	218	218	NUM
hassl-3690	318	42	-	-	SYM
hassl-3690	318	43	232	232	NUM
hassl-3690	318	44	228	228	NUM
hassl-3690	318	45	©	©	PROPN
hassl-3690	318	46	2024	2024	NUM
hassl-3690	318	47	conscientia	conscientia	PROPN
hassl-3690	318	48	beam	beam	PROPN
hassl-3690	318	49	.	.	PUNCT
hassl-3690	319	1	all	all	DET
hassl-3690	319	2	rights	right	NOUN
hassl-3690	319	3	reserved	reserve	VERB
hassl-3690	319	4	.	.	PUNCT
hassl-3690	320	1	stronger	strong	ADJ
hassl-3690	320	2	growth	growth	NOUN
hassl-3690	320	3	prospects	prospect	NOUN
hassl-3690	320	4	have	have	VERB
hassl-3690	320	5	to	to	PART
hassl-3690	320	6	be	be	AUX
hassl-3690	320	7	composed	compose	VERB
hassl-3690	320	8	of	of	ADP
hassl-3690	320	9	individuals	individual	NOUN
hassl-3690	320	10	who	who	PRON
hassl-3690	320	11	do	do	AUX
hassl-3690	320	12	not	not	PART
hassl-3690	320	13	hold	hold	VERB
hassl-3690	320	14	numerous	numerous	ADJ
hassl-3690	320	15	roles	role	NOUN
hassl-3690	320	16	in	in	ADP
hassl-3690	320	17	other	other	ADJ
hassl-3690	320	18	organisations	organisation	NOUN
hassl-3690	320	19	concurrently	concurrently	ADV
hassl-3690	320	20	.	.	PUNCT
hassl-3690	321	1	highly	highly	ADV
hassl-3690	321	2	busy	busy	ADJ
hassl-3690	321	3	boards	board	NOUN
hassl-3690	321	4	find	find	VERB
hassl-3690	321	5	it	it	PRON
hassl-3690	321	6	challenging	challenge	VERB
hassl-3690	321	7	to	to	PART
hassl-3690	321	8	dedicate	dedicate	VERB
hassl-3690	321	9	sufficient	sufficient	ADJ
hassl-3690	321	10	time	time	NOUN
hassl-3690	321	11	and	and	CCONJ
hassl-3690	321	12	attention	attention	NOUN
hassl-3690	321	13	to	to	ADP
hassl-3690	321	14	managing	manage	VERB
hassl-3690	321	15	the	the	DET
hassl-3690	321	16	company	company	NOUN
hassl-3690	321	17	which	which	PRON
hassl-3690	321	18	leads	lead	VERB
hassl-3690	321	19	to	to	ADP
hassl-3690	321	20	a	a	DET
hassl-3690	321	21	high	high	ADJ
hassl-3690	321	22	frequency	frequency	NOUN
hassl-3690	321	23	of	of	ADP
hassl-3690	321	24	missed	miss	VERB
hassl-3690	321	25	board	board	NOUN
hassl-3690	321	26	meetings	meeting	NOUN
hassl-3690	321	27	(	(	PUNCT
hassl-3690	321	28	jiraporn	jiraporn	NOUN
hassl-3690	321	29	,	,	PUNCT
hassl-3690	321	30	singh	singh	PROPN
hassl-3690	321	31	,	,	PUNCT
hassl-3690	321	32	&	&	CCONJ
hassl-3690	321	33	lee	lee	PROPN
hassl-3690	321	34	,	,	PUNCT
hassl-3690	321	35	2009	2009	NUM
hassl-3690	321	36	)	)	PUNCT
hassl-3690	321	37	.	.	PUNCT
hassl-3690	322	1	the	the	DET
hassl-3690	322	2	board	board	NOUN
hassl-3690	322	3	may	may	AUX
hassl-3690	322	4	miss	miss	VERB
hassl-3690	322	5	out	out	ADP
hassl-3690	322	6	on	on	ADP
hassl-3690	322	7	a	a	DET
hassl-3690	322	8	lot	lot	NOUN
hassl-3690	322	9	of	of	ADP
hassl-3690	322	10	good	good	ADJ
hassl-3690	322	11	business	business	NOUN
hassl-3690	322	12	prospects	prospect	NOUN
hassl-3690	322	13	if	if	SCONJ
hassl-3690	322	14	they	they	PRON
hassl-3690	322	15	are	be	AUX
hassl-3690	322	16	not	not	PART
hassl-3690	322	17	committed	commit	VERB
hassl-3690	322	18	(	(	PUNCT
hassl-3690	322	19	ahn	ahn	NOUN
hassl-3690	322	20	,	,	PUNCT
hassl-3690	322	21	jiraporn	jiraporn	NOUN
hassl-3690	322	22	,	,	PUNCT
hassl-3690	322	23	&	&	CCONJ
hassl-3690	322	24	kim	kim	PROPN
hassl-3690	322	25	,	,	PUNCT
hassl-3690	322	26	2010	2010	NUM
hassl-3690	322	27	)	)	PUNCT
hassl-3690	322	28	.	.	PUNCT
hassl-3690	323	1	therefore	therefore	ADV
hassl-3690	323	2	,	,	PUNCT
hassl-3690	323	3	multiple	multiple	ADJ
hassl-3690	323	4	directorships	directorship	NOUN
hassl-3690	323	5	can	can	AUX
hassl-3690	323	6	affect	affect	VERB
hassl-3690	323	7	the	the	DET
hassl-3690	323	8	idiosyncratic	idiosyncratic	ADJ
hassl-3690	323	9	risk	risk	NOUN
hassl-3690	323	10	that	that	PRON
hassl-3690	323	11	occurs	occur	VERB
hassl-3690	323	12	in	in	ADP
hassl-3690	323	13	a	a	DET
hassl-3690	323	14	company	company	NOUN
hassl-3690	323	15	.	.	PUNCT
hassl-3690	324	1	the	the	DET
hassl-3690	324	2	role	role	NOUN
hassl-3690	324	3	of	of	ADP
hassl-3690	324	4	multiple	multiple	ADJ
hassl-3690	324	5	directorships	directorship	NOUN
hassl-3690	324	6	can	can	AUX
hassl-3690	324	7	minimize	minimize	VERB
hassl-3690	324	8	the	the	DET
hassl-3690	324	9	occurrence	occurrence	NOUN
hassl-3690	324	10	of	of	ADP
hassl-3690	324	11	idiosyncratic	idiosyncratic	ADJ
hassl-3690	324	12	risk	risk	NOUN
hassl-3690	324	13	.	.	PUNCT
hassl-3690	325	1	core	core	NOUN
hassl-3690	325	2	,	,	PUNCT
hassl-3690	325	3	holthausen	holthausen	NOUN
hassl-3690	325	4	,	,	PUNCT
hassl-3690	325	5	and	and	CCONJ
hassl-3690	325	6	larcker	larcker	NOUN
hassl-3690	325	7	(	(	PUNCT
hassl-3690	325	8	1999	1999	NUM
hassl-3690	325	9	)	)	PUNCT
hassl-3690	325	10	state	state	NOUN
hassl-3690	325	11	that	that	SCONJ
hassl-3690	325	12	the	the	DET
hassl-3690	325	13	board	board	NOUN
hassl-3690	325	14	of	of	ADP
hassl-3690	325	15	commissioners	commissioner	NOUN
hassl-3690	325	16	can	can	AUX
hassl-3690	325	17	provide	provide	VERB
hassl-3690	325	18	adequate	adequate	ADJ
hassl-3690	325	19	supervision	supervision	NOUN
hassl-3690	325	20	over	over	ADP
hassl-3690	325	21	each	each	DET
hassl-3690	325	22	company	company	NOUN
hassl-3690	325	23	if	if	SCONJ
hassl-3690	325	24	they	they	PRON
hassl-3690	325	25	hold	hold	VERB
hassl-3690	325	26	or	or	CCONJ
hassl-3690	325	27	have	have	VERB
hassl-3690	325	28	three	three	NUM
hassl-3690	325	29	or	or	CCONJ
hassl-3690	325	30	more	more	ADJ
hassl-3690	325	31	company	company	NOUN
hassl-3690	325	32	positions	position	NOUN
hassl-3690	325	33	because	because	SCONJ
hassl-3690	325	34	of	of	ADP
hassl-3690	325	35	their	their	PRON
hassl-3690	325	36	reputation	reputation	NOUN
hassl-3690	325	37	and	and	CCONJ
hassl-3690	325	38	experience	experience	NOUN
hassl-3690	325	39	.	.	PUNCT
hassl-3690	326	1	this	this	PRON
hassl-3690	326	2	demonstrates	demonstrate	VERB
hassl-3690	326	3	that	that	SCONJ
hassl-3690	326	4	the	the	DET
hassl-3690	326	5	role	role	NOUN
hassl-3690	326	6	of	of	ADP
hassl-3690	326	7	the	the	DET
hassl-3690	326	8	board	board	NOUN
hassl-3690	326	9	of	of	ADP
hassl-3690	326	10	commissioners	commissioner	NOUN
hassl-3690	326	11	can	can	AUX
hassl-3690	326	12	minimize	minimize	VERB
hassl-3690	326	13	expropriation	expropriation	NOUN
hassl-3690	326	14	by	by	ADP
hassl-3690	326	15	large	large	ADJ
hassl-3690	326	16	shareholders	shareholder	NOUN
hassl-3690	326	17	due	due	ADP
hassl-3690	326	18	to	to	ADP
hassl-3690	326	19	a	a	DET
hassl-3690	326	20	conflict	conflict	NOUN
hassl-3690	326	21	of	of	ADP
hassl-3690	326	22	interest	interest	NOUN
hassl-3690	326	23	.	.	PUNCT
hassl-3690	327	1	multiple	multiple	ADJ
hassl-3690	327	2	directorships	directorship	NOUN
hassl-3690	327	3	will	will	AUX
hassl-3690	327	4	have	have	VERB
hassl-3690	327	5	an	an	DET
hassl-3690	327	6	adverse	adverse	ADJ
hassl-3690	327	7	effect	effect	NOUN
hassl-3690	327	8	on	on	ADP
hassl-3690	327	9	the	the	DET
hassl-3690	327	10	commitment	commitment	NOUN
hassl-3690	327	11	they	they	PRON
hassl-3690	327	12	have	have	AUX
hassl-3690	327	13	given	give	VERB
hassl-3690	327	14	and	and	CCONJ
hassl-3690	327	15	reduce	reduce	VERB
hassl-3690	327	16	the	the	DET
hassl-3690	327	17	quality	quality	NOUN
hassl-3690	327	18	of	of	ADP
hassl-3690	327	19	work	work	NOUN
hassl-3690	327	20	provided	provide	VERB
hassl-3690	327	21	to	to	ADP
hassl-3690	327	22	each	each	DET
hassl-3690	327	23	company	company	NOUN
hassl-3690	327	24	.	.	PUNCT
hassl-3690	328	1	mendez	mendez	PROPN
hassl-3690	328	2	,	,	PUNCT
hassl-3690	328	3	arrondo	arrondo	PROPN
hassl-3690	328	4	garcia	garcia	PROPN
hassl-3690	328	5	,	,	PUNCT
hassl-3690	328	6	and	and	CCONJ
hassl-3690	328	7	pathan	pathan	PROPN
hassl-3690	328	8	(	(	PUNCT
hassl-3690	328	9	2017	2017	NUM
hassl-3690	328	10	)	)	PUNCT
hassl-3690	328	11	stated	state	VERB
hassl-3690	328	12	that	that	SCONJ
hassl-3690	328	13	if	if	SCONJ
hassl-3690	328	14	multiple	multiple	ADJ
hassl-3690	328	15	directorships	directorship	NOUN
hassl-3690	328	16	held	hold	VERB
hassl-3690	328	17	positions	position	NOUN
hassl-3690	328	18	concurrently	concurrently	ADV
hassl-3690	328	19	in	in	ADP
hassl-3690	328	20	other	other	ADJ
hassl-3690	328	21	companies	company	NOUN
hassl-3690	328	22	,	,	PUNCT
hassl-3690	328	23	it	it	PRON
hassl-3690	328	24	could	could	AUX
hassl-3690	328	25	result	result	VERB
hassl-3690	328	26	in	in	ADP
hassl-3690	328	27	lower	low	ADJ
hassl-3690	328	28	achievement	achievement	NOUN
hassl-3690	328	29	based	base	VERB
hassl-3690	328	30	on	on	ADP
hassl-3690	328	31	the	the	DET
hassl-3690	328	32	information	information	NOUN
hassl-3690	328	33	released	release	VERB
hassl-3690	328	34	by	by	ADP
hassl-3690	328	35	the	the	DET
hassl-3690	328	36	company	company	NOUN
hassl-3690	328	37	.	.	PUNCT
hassl-3690	329	1	6	6	X
hassl-3690	329	2	.	.	X
hassl-3690	329	3	robustness	robustness	NOUN
hassl-3690	329	4	test	test	NOUN
hassl-3690	329	5	our	our	PRON
hassl-3690	329	6	method	method	NOUN
hassl-3690	329	7	for	for	ADP
hassl-3690	329	8	idiosyncratic	idiosyncratic	ADJ
hassl-3690	329	9	risk	risk	NOUN
hassl-3690	329	10	assessment	assessment	NOUN
hassl-3690	329	11	is	be	AUX
hassl-3690	329	12	based	base	VERB
hassl-3690	329	13	on	on	ADP
hassl-3690	329	14	the	the	DET
hassl-3690	329	15	direct	direct	ADJ
hassl-3690	329	16	method	method	NOUN
hassl-3690	329	17	of	of	ADP
hassl-3690	329	18	the	the	DET
hassl-3690	329	19	fama	fama	NOUN
hassl-3690	329	20	-	-	PUNCT
hassl-3690	329	21	french	french	ADJ
hassl-3690	329	22	three	three	NUM
hassl-3690	329	23	factor	factor	NOUN
hassl-3690	329	24	model	model	NOUN
hassl-3690	329	25	as	as	SCONJ
hassl-3690	329	26	described	describe	VERB
hassl-3690	329	27	in	in	ADP
hassl-3690	329	28	ang	ang	PROPN
hassl-3690	329	29	,	,	PUNCT
hassl-3690	329	30	hodrick	hodrick	PROPN
hassl-3690	329	31	,	,	PUNCT
hassl-3690	329	32	xing	xing	PROPN
hassl-3690	329	33	,	,	PUNCT
hassl-3690	329	34	and	and	CCONJ
hassl-3690	329	35	zhang	zhang	PROPN
hassl-3690	329	36	(	(	PUNCT
hassl-3690	329	37	2009	2009	NUM
hassl-3690	329	38	)	)	PUNCT
hassl-3690	329	39	and	and	CCONJ
hassl-3690	329	40	fu	fu	NOUN
hassl-3690	329	41	(	(	PUNCT
hassl-3690	329	42	2009	2009	NUM
hassl-3690	329	43	)	)	PUNCT
hassl-3690	329	44	.	.	PUNCT
hassl-3690	330	1	the	the	DET
hassl-3690	330	2	three	three	NUM
hassl-3690	330	3	factor	factor	NOUN
hassl-3690	330	4	model	model	NOUN
hassl-3690	330	5	is	be	AUX
hassl-3690	330	6	developed	develop	VERB
hassl-3690	330	7	by	by	ADP
hassl-3690	330	8	incorporating	incorporate	VERB
hassl-3690	330	9	the	the	DET
hassl-3690	330	10	size	size	NOUN
hassl-3690	330	11	and	and	CCONJ
hassl-3690	330	12	value	value	NOUN
hassl-3690	330	13	aspects	aspect	NOUN
hassl-3690	330	14	as	as	ADP
hassl-3690	330	15	additional	additional	ADJ
hassl-3690	330	16	systemic	systemic	ADJ
hassl-3690	330	17	factors	factor	NOUN
hassl-3690	330	18	into	into	ADP
hassl-3690	330	19	the	the	DET
hassl-3690	330	20	fama	fama	NOUN
hassl-3690	330	21	-	-	PUNCT
hassl-3690	330	22	french	french	NOUN
hassl-3690	330	23	to	to	PART
hassl-3690	330	24	estimate	estimate	VERB
hassl-3690	330	25	idiosyncratic	idiosyncratic	ADJ
hassl-3690	330	26	risk	risk	NOUN
hassl-3690	330	27	.	.	PUNCT
hassl-3690	331	1	table	table	NOUN
hassl-3690	331	2	3	3	NUM
hassl-3690	331	3	.	.	PUNCT
hassl-3690	331	4	robustness	robustness	NOUN
hassl-3690	331	5	test	test	NOUN
hassl-3690	332	1	fama_french	fama_french	NUM
hassl-3690	332	2	three	three	NUM
hassl-3690	332	3	factor	factor	NOUN
hassl-3690	332	4	model	model	NOUN
hassl-3690	332	5	.	.	PUNCT
hassl-3690	333	1	variables	variable	NOUN
hassl-3690	333	2	fixed	fix	VERB
hassl-3690	333	3	effect	effect	NOUN
hassl-3690	333	4	dynamic	dynamic	ADJ
hassl-3690	333	5	panel	panel	NOUN
hassl-3690	333	6	-	-	PUNCT
hassl-3690	333	7	data	datum	NOUN
hassl-3690	333	8	estimation	estimation	NOUN
hassl-3690	333	9	,	,	PUNCT
hassl-3690	333	10	two	two	NUM
hassl-3690	333	11	-	-	PUNCT
hassl-3690	333	12	step	step	NOUN
hassl-3690	333	13	system	system	NOUN
hassl-3690	333	14	gmm	gmm	PROPN
hassl-3690	333	15	model	model	VERB
hassl-3690	333	16	1	1	NUM
hassl-3690	333	17	model	model	NOUN
hassl-3690	333	18	2	2	NUM
hassl-3690	333	19	model	model	NOUN
hassl-3690	333	20	3	3	NUM
hassl-3690	333	21	model	model	NOUN
hassl-3690	333	22	1	1	NUM
hassl-3690	333	23	model	model	NOUN
hassl-3690	333	24	2	2	NUM
hassl-3690	333	25	model	model	NOUN
hassl-3690	333	26	3	3	NUM
hassl-3690	333	27	𝐼𝑅𝑖,𝑡−1	𝐼𝑅𝑖,𝑡−1	VERB
hassl-3690	333	28	1.415	1.415	NUM
hassl-3690	333	29	*	*	NOUN
hassl-3690	333	30	*	*	PUNCT
hassl-3690	333	31	(	(	PUNCT
hassl-3690	333	32	0.047	0.047	NUM
hassl-3690	333	33	)	)	PUNCT
hassl-3690	333	34	2.007	2.007	NUM
hassl-3690	333	35	*	*	PUNCT
hassl-3690	333	36	*	*	PUNCT
hassl-3690	333	37	*	*	PUNCT
hassl-3690	333	38	(	(	PUNCT
hassl-3690	333	39	0.000	0.000	NUM
hassl-3690	333	40	)	)	PUNCT
hassl-3690	333	41	2.680	2.680	NUM
hassl-3690	333	42	*	*	PUNCT
hassl-3690	333	43	*	*	PUNCT
hassl-3690	333	44	(	(	PUNCT
hassl-3690	333	45	0.056	0.056	NUM
hassl-3690	333	46	)	)	PUNCT
hassl-3690	333	47	𝐿𝑆𝑖	𝐿𝑆𝑖	NOUN
hassl-3690	333	48	,	,	PUNCT
hassl-3690	333	49	𝑡−1	𝑡−1	PROPN
hassl-3690	333	50	1.212	1.212	NUM
hassl-3690	333	51	*	*	NOUN
hassl-3690	333	52	*	*	PUNCT
hassl-3690	333	53	(	(	PUNCT
hassl-3690	333	54	0.032	0.032	NUM
hassl-3690	333	55	)	)	PUNCT
hassl-3690	333	56	1.114	1.114	NUM
hassl-3690	333	57	*	*	PUNCT
hassl-3690	333	58	(	(	PUNCT
hassl-3690	333	59	0.089	0.089	NUM
hassl-3690	333	60	)	)	PUNCT
hassl-3690	333	61	1.330	1.330	NUM
hassl-3690	333	62	*	*	NOUN
hassl-3690	333	63	*	*	PUNCT
hassl-3690	333	64	(	(	PUNCT
hassl-3690	333	65	0.034	0.034	NUM
hassl-3690	333	66	)	)	PUNCT
hassl-3690	333	67	1.966	1.966	NUM
hassl-3690	333	68	*	*	PUNCT
hassl-3690	333	69	*	*	PUNCT
hassl-3690	333	70	(	(	PUNCT
hassl-3690	333	71	0.050	0.050	NUM
hassl-3690	333	72	)	)	PUNCT
hassl-3690	333	73	𝑀𝐷𝑖,𝑡−1	𝑀𝐷𝑖,𝑡−1	NOUN
hassl-3690	333	74	-1.972	-1.972	PROPN
hassl-3690	333	75	*	*	NOUN
hassl-3690	333	76	*	*	PUNCT
hassl-3690	333	77	(	(	PUNCT
hassl-3690	333	78	0.049	0.049	NUM
hassl-3690	333	79	)	)	PUNCT
hassl-3690	333	80	-2.231	-2.231	PROPN
hassl-3690	333	81	*	*	PUNCT
hassl-3690	333	82	*	*	PUNCT
hassl-3690	333	83	(	(	PUNCT
hassl-3690	333	84	0.021	0.021	NUM
hassl-3690	333	85	)	)	PUNCT
hassl-3690	333	86	𝑀𝐷𝐿𝑆𝑖,𝑡−1	𝑀𝐷𝐿𝑆𝑖,𝑡−1	NOUN
hassl-3690	333	87	-1.875	-1.875	NOUN
hassl-3690	333	88	*	*	PUNCT
hassl-3690	333	89	*	*	PUNCT
hassl-3690	333	90	(	(	PUNCT
hassl-3690	333	91	0.004	0.004	NUM
hassl-3690	333	92	)	)	PUNCT
hassl-3690	333	93	-1.381	-1.381	PUNCT
hassl-3690	334	1	*	*	PUNCT
hassl-3690	334	2	*	*	PUNCT
hassl-3690	334	3	(	(	PUNCT
hassl-3690	334	4	0.002	0.002	NUM
hassl-3690	334	5	)	)	PUNCT
hassl-3690	334	6	𝑆𝐼𝑍𝐸𝑖	𝑆𝐼𝑍𝐸𝑖	NOUN
hassl-3690	334	7	,	,	PUNCT
hassl-3690	334	8	𝑡−1	𝑡−1	PROPN
hassl-3690	334	9	1.663	1.663	NUM
hassl-3690	334	10	*	*	NOUN
hassl-3690	334	11	*	*	PUNCT
hassl-3690	334	12	(	(	PUNCT
hassl-3690	334	13	0.010	0.010	NUM
hassl-3690	334	14	)	)	PUNCT
hassl-3690	334	15	2.371	2.371	NUM
hassl-3690	334	16	*	*	PUNCT
hassl-3690	334	17	*	*	PUNCT
hassl-3690	334	18	*	*	PUNCT
hassl-3690	334	19	(	(	PUNCT
hassl-3690	334	20	0.000	0.000	NUM
hassl-3690	334	21	)	)	PUNCT
hassl-3690	334	22	2.375	2.375	NUM
hassl-3690	334	23	*	*	PUNCT
hassl-3690	334	24	*	*	PUNCT
hassl-3690	334	25	(	(	PUNCT
hassl-3690	334	26	0.049	0.049	NUM
hassl-3690	334	27	)	)	PUNCT
hassl-3690	334	28	1.425	1.425	NUM
hassl-3690	334	29	*	*	NOUN
hassl-3690	334	30	*	*	PUNCT
hassl-3690	334	31	(	(	PUNCT
hassl-3690	334	32	0.057	0.057	NUM
hassl-3690	334	33	)	)	PUNCT
hassl-3690	334	34	2.727	2.727	NUM
hassl-3690	334	35	*	*	PUNCT
hassl-3690	334	36	*	*	PUNCT
hassl-3690	334	37	*	*	PUNCT
hassl-3690	334	38	(	(	PUNCT
hassl-3690	334	39	0.005	0.005	NUM
hassl-3690	334	40	)	)	PUNCT
hassl-3690	334	41	2.957	2.957	NUM
hassl-3690	334	42	*	*	PUNCT
hassl-3690	334	43	*	*	PUNCT
hassl-3690	334	44	(	(	PUNCT
hassl-3690	334	45	0.039	0.039	NUM
hassl-3690	334	46	)	)	PUNCT
hassl-3690	334	47	𝐴𝐺𝐸𝑖,𝑡−1	𝐴𝐺𝐸𝑖,𝑡−1	NOUN
hassl-3690	334	48	-0.717	-0.717	NUM
hassl-3690	334	49	(	(	PUNCT
hassl-3690	334	50	0.473	0.473	NUM
hassl-3690	334	51	)	)	PUNCT
hassl-3690	334	52	4.404	4.404	NUM
hassl-3690	334	53	*	*	PUNCT
hassl-3690	334	54	*	*	PUNCT
hassl-3690	334	55	*	*	PUNCT
hassl-3690	334	56	(	(	PUNCT
hassl-3690	334	57	0.000	0.000	NUM
hassl-3690	334	58	)	)	PUNCT
hassl-3690	334	59	-0.292	-0.292	NUM
hassl-3690	334	60	(	(	PUNCT
hassl-3690	334	61	0.368	0.368	NUM
hassl-3690	334	62	)	)	PUNCT
hassl-3690	334	63	-0.206	-0.206	PUNCT
hassl-3690	334	64	(	(	PUNCT
hassl-3690	334	65	0.836	0.836	NUM
hassl-3690	334	66	)	)	PUNCT
hassl-3690	334	67	2.236	2.236	NUM
hassl-3690	334	68	*	*	PUNCT
hassl-3690	334	69	*	*	PUNCT
hassl-3690	334	70	*	*	PUNCT
hassl-3690	334	71	(	(	PUNCT
hassl-3690	334	72	0.002	0.002	NUM
hassl-3690	334	73	)	)	PUNCT
hassl-3690	334	74	-0.873	-0.873	X
hassl-3690	334	75	(	(	PUNCT
hassl-3690	334	76	0.383	0.383	NUM
hassl-3690	334	77	)	)	PUNCT
hassl-3690	334	78	𝐿𝐸𝑉𝑖	𝐿𝐸𝑉𝑖	NOUN
hassl-3690	334	79	,	,	PUNCT
hassl-3690	334	80	𝑡−1	𝑡−1	PROPN
hassl-3690	334	81	2.015	2.015	NUM
hassl-3690	334	82	*	*	NOUN
hassl-3690	334	83	*	*	PUNCT
hassl-3690	334	84	(	(	PUNCT
hassl-3690	334	85	0.044	0.044	NUM
hassl-3690	334	86	)	)	PUNCT
hassl-3690	334	87	2.077	2.077	NUM
hassl-3690	334	88	(	(	PUNCT
hassl-3690	334	89	0.382	0.382	NUM
hassl-3690	334	90	)	)	PUNCT
hassl-3690	334	91	2.127	2.127	NUM
hassl-3690	334	92	*	*	SYM
hassl-3690	334	93	*	*	PUNCT
hassl-3690	334	94	(	(	PUNCT
hassl-3690	334	95	0.034	0.034	NUM
hassl-3690	334	96	)	)	PUNCT
hassl-3690	334	97	1.967	1.967	NUM
hassl-3690	334	98	*	*	SYM
hassl-3690	334	99	(	(	PUNCT
hassl-3690	334	100	0.070	0.070	NUM
hassl-3690	334	101	)	)	PUNCT
hassl-3690	334	102	1.106	1.106	NUM
hassl-3690	334	103	(	(	PUNCT
hassl-3690	334	104	0.195	0.195	NUM
hassl-3690	334	105	)	)	PUNCT
hassl-3690	334	106	1.725	1.725	NUM
hassl-3690	334	107	*	*	NOUN
hassl-3690	334	108	*	*	PUNCT
hassl-3690	334	109	(	(	PUNCT
hassl-3690	334	110	0.048	0.048	NUM
hassl-3690	334	111	)	)	PUNCT
hassl-3690	334	112	𝑅𝑂𝐴𝑖,𝑡−1	𝑅𝑂𝐴𝑖,𝑡−1	NOUN
hassl-3690	334	113	-1.217	-1.217	PROPN
hassl-3690	334	114	(	(	PUNCT
hassl-3690	334	115	0.151	0.151	NUM
hassl-3690	334	116	)	)	PUNCT
hassl-3690	334	117	-2.562	-2.562	ADV
hassl-3690	334	118	(	(	PUNCT
hassl-3690	334	119	0.396	0.396	NUM
hassl-3690	334	120	)	)	PUNCT
hassl-3690	334	121	-2.592	-2.592	PUNCT
hassl-3690	334	122	(	(	PUNCT
hassl-3690	334	123	0.198	0.198	NUM
hassl-3690	334	124	)	)	PUNCT
hassl-3690	334	125	-1.252	-1.252	PROPN
hassl-3690	334	126	(	(	PUNCT
hassl-3690	334	127	0.189	0.189	NUM
hassl-3690	334	128	)	)	PUNCT
hassl-3690	334	129	-2.135	-2.135	NUM
hassl-3690	334	130	(	(	PUNCT
hassl-3690	334	131	0.345	0.345	NUM
hassl-3690	334	132	)	)	PUNCT
hassl-3690	334	133	-1.157	-1.157	NOUN
hassl-3690	334	134	(	(	PUNCT
hassl-3690	334	135	0.279	0.279	NUM
hassl-3690	334	136	)	)	PUNCT
hassl-3690	334	137	𝑉𝑇𝑖,𝑡−1	𝑉𝑇𝑖,𝑡−1	VERB
hassl-3690	334	138	1.853	1.853	NUM
hassl-3690	334	139	*	*	SYM
hassl-3690	334	140	(	(	PUNCT
hassl-3690	334	141	0.077	0.077	NUM
hassl-3690	334	142	)	)	PUNCT
hassl-3690	334	143	1.057	1.057	NUM
hassl-3690	334	144	(	(	PUNCT
hassl-3690	334	145	0.278	0.278	NUM
hassl-3690	334	146	)	)	PUNCT
hassl-3690	334	147	0.449	0.449	NUM
hassl-3690	334	148	(	(	PUNCT
hassl-3690	334	149	0.215	0.215	NUM
hassl-3690	334	150	)	)	PUNCT
hassl-3690	334	151	1.505	1.505	NUM
hassl-3690	334	152	*	*	SYM
hassl-3690	334	153	(	(	PUNCT
hassl-3690	334	154	0.071	0.071	NUM
hassl-3690	334	155	)	)	PUNCT
hassl-3690	334	156	1.006	1.006	NUM
hassl-3690	334	157	(	(	PUNCT
hassl-3690	334	158	0.219	0.219	NUM
hassl-3690	334	159	)	)	PUNCT
hassl-3690	334	160	0.453	0.453	NUM
hassl-3690	334	161	(	(	PUNCT
hassl-3690	334	162	0.237	0.237	NUM
hassl-3690	334	163	)	)	PUNCT
hassl-3690	334	164	𝐼𝑁𝐷𝑇𝑖,𝑡−1	𝐼𝑁𝐷𝑇𝑖,𝑡−1	VERB
hassl-3690	334	165	1.587	1.587	NUM
hassl-3690	334	166	*	*	SYM
hassl-3690	334	167	(	(	PUNCT
hassl-3690	334	168	0.052	0.052	NUM
hassl-3690	334	169	)	)	PUNCT
hassl-3690	334	170	1.078	1.078	NUM
hassl-3690	334	171	*	*	SYM
hassl-3690	334	172	(	(	PUNCT
hassl-3690	334	173	0.083	0.083	NUM
hassl-3690	334	174	)	)	PUNCT
hassl-3690	334	175	2.959	2.959	NUM
hassl-3690	334	176	*	*	NOUN
hassl-3690	334	177	*	*	PUNCT
hassl-3690	334	178	(	(	PUNCT
hassl-3690	334	179	0.002	0.002	NUM
hassl-3690	334	180	)	)	PUNCT
hassl-3690	334	181	1.625	1.625	NUM
hassl-3690	334	182	*	*	SYM
hassl-3690	334	183	(	(	PUNCT
hassl-3690	334	184	0.061	0.061	NUM
hassl-3690	334	185	)	)	PUNCT
hassl-3690	334	186	1.454	1.454	NUM
hassl-3690	334	187	*	*	SYM
hassl-3690	334	188	(	(	PUNCT
hassl-3690	334	189	0.091	0.091	NUM
hassl-3690	334	190	)	)	PUNCT
hassl-3690	334	191	2.121	2.121	NUM
hassl-3690	334	192	*	*	PUNCT
hassl-3690	334	193	*	*	PUNCT
hassl-3690	334	194	(	(	PUNCT
hassl-3690	334	195	0.005	0.005	NUM
hassl-3690	334	196	)	)	PUNCT
hassl-3690	334	197	r2	r2	NOUN
hassl-3690	334	198	0.362	0.362	NUM
hassl-3690	334	199	0.383	0.383	NUM
hassl-3690	334	200	0.396	0.396	NUM
hassl-3690	334	201	ar	ar	NOUN
hassl-3690	334	202	(	(	PUNCT
hassl-3690	334	203	1	1	NUM
hassl-3690	334	204	)	)	PUNCT
hassl-3690	334	205	0.317	0.317	NUM
hassl-3690	334	206	0.220	0.220	NUM
hassl-3690	334	207	0.283	0.283	NUM
hassl-3690	334	208	ar(2	ar(2	NOUN
hassl-3690	334	209	)	)	PUNCT
hassl-3690	334	210	0.577	0.577	NUM
hassl-3690	334	211	0.492	0.492	NUM
hassl-3690	334	212	0.380	0.380	NUM
hassl-3690	334	213	conclusion	conclusion	NOUN
hassl-3690	334	214	no	no	DET
hassl-3690	334	215	misspecification	misspecification	NOUN
hassl-3690	334	216	no	no	DET
hassl-3690	334	217	misspecification	misspecification	NOUN
hassl-3690	334	218	no	no	DET
hassl-3690	334	219	misspecification	misspecification	NOUN
hassl-3690	334	220	sargan	sargan	NOUN
hassl-3690	334	221	/	/	SYM
hassl-3690	334	222	hansen	hansen	PROPN
hassl-3690	335	1	(	(	PUNCT
hassl-3690	335	2	chi	chi	ADJ
hassl-3690	335	3	-	-	PUNCT
hassl-3690	335	4	square	square	NOUN
hassl-3690	335	5	)	)	PUNCT
hassl-3690	335	6	0.352	0.352	NUM
hassl-3690	335	7	valid	valid	VERB
hassl-3690	335	8	0.506	0.506	NUM
hassl-3690	335	9	valid	valid	ADJ
hassl-3690	335	10	0.245	0.245	NUM
hassl-3690	335	11	valid	valid	ADJ
hassl-3690	335	12	observation	observation	NOUN
hassl-3690	335	13	1.510	1.510	NUM
hassl-3690	335	14	1.510	1.510	NUM
hassl-3690	335	15	1.510	1.510	NUM
hassl-3690	335	16	1.510	1.510	NUM
hassl-3690	335	17	1.510	1.510	NUM
hassl-3690	335	18	1.510	1.510	NUM
hassl-3690	335	19	p	p	NOUN
hassl-3690	335	20	value	value	NOUN
hassl-3690	335	21	:	:	PUNCT
hassl-3690	336	1	*	*	PUNCT
hassl-3690	336	2	*	*	PUNCT
hassl-3690	336	3	*	*	PUNCT
hassl-3690	336	4	1	1	NUM
hassl-3690	336	5	%	%	NOUN
hassl-3690	336	6	,	,	PUNCT
hassl-3690	336	7	*	*	PUNCT
hassl-3690	336	8	*	*	PUNCT
hassl-3690	336	9	5	5	NUM
hassl-3690	336	10	%	%	NOUN
hassl-3690	336	11	,	,	PUNCT
hassl-3690	336	12	*	*	PUNCT
hassl-3690	336	13	10	10	NUM
hassl-3690	336	14	%	%	NOUN
hassl-3690	336	15	note	note	NOUN
hassl-3690	336	16	:	:	PUNCT
hassl-3690	336	17	ir	ir	NOUN
hassl-3690	336	18	=	=	PUNCT
hassl-3690	336	19	idiosyncratic	idiosyncratic	ADJ
hassl-3690	336	20	risk	risk	NOUN
hassl-3690	336	21	,	,	PUNCT
hassl-3690	336	22	a	a	DET
hassl-3690	336	23	proxy	proxy	NOUN
hassl-3690	336	24	for	for	ADP
hassl-3690	336	25	measuring	measure	VERB
hassl-3690	336	26	company	company	NOUN
hassl-3690	336	27	risk	risk	NOUN
hassl-3690	336	28	,	,	PUNCT
hassl-3690	336	29	where	where	SCONJ
hassl-3690	336	30	ir	ir	PROPN
hassl-3690	336	31	is	be	AUX
hassl-3690	336	32	the	the	DET
hassl-3690	336	33	standard	standard	ADJ
hassl-3690	336	34	deviation	deviation	NOUN
hassl-3690	336	35	of	of	ADP
hassl-3690	336	36	the	the	DET
hassl-3690	336	37	residual	residual	ADJ
hassl-3690	336	38	regress	regress	NOUN
hassl-3690	336	39	ion	ion	NOUN
hassl-3690	336	40	of	of	ADP
hassl-3690	336	41	daily	daily	ADJ
hassl-3690	336	42	stock	stock	NOUN
hassl-3690	336	43	price	price	NOUN
hassl-3690	336	44	data	datum	NOUN
hassl-3690	336	45	(	(	PUNCT
hassl-3690	336	46	single	single	ADJ
hassl-3690	336	47	factor	factor	NOUN
hassl-3690	336	48	model	model	NOUN
hassl-3690	336	49	)	)	PUNCT
hassl-3690	336	50	.	.	PUNCT
hassl-3690	337	1	ls	ls	ADJ
hassl-3690	337	2	:	:	PUNCT
hassl-3690	337	3	large	large	ADJ
hassl-3690	337	4	shareholders	shareholder	NOUN
hassl-3690	337	5	.	.	PUNCT
hassl-3690	338	1	md	md	PROPN
hassl-3690	338	2	:	:	PUNCT
hassl-3690	338	3	multiple	multiple	ADJ
hassl-3690	338	4	directorships	directorship	NOUN
hassl-3690	338	5	.	.	PUNCT
hassl-3690	339	1	mdls	mdl	NOUN
hassl-3690	339	2	:	:	PUNCT
hassl-3690	339	3	moderating	moderate	VERB
hassl-3690	339	4	large	large	ADJ
hassl-3690	339	5	shareholders	shareholder	NOUN
hassl-3690	339	6	a	a	DET
hassl-3690	339	7	nd	nd	NOUN
hassl-3690	339	8	multiple	multiple	ADJ
hassl-3690	339	9	directorships	directorship	NOUN
hassl-3690	339	10	size=	size=	NUM
hassl-3690	339	11	company	company	NOUN
hassl-3690	339	12	size	size	NOUN
hassl-3690	339	13	of	of	ADP
hassl-3690	339	14	total	total	ADJ
hassl-3690	339	15	assets	asset	NOUN
hassl-3690	339	16	.	.	PUNCT
hassl-3690	340	1	age	age	NOUN
hassl-3690	340	2	=	=	SYM
hassl-3690	340	3	company	company	NOUN
hassl-3690	340	4	age	age	NOUN
hassl-3690	340	5	calculated	calculate	VERB
hassl-3690	340	6	from	from	ADP
hassl-3690	340	7	the	the	DET
hassl-3690	340	8	year	year	NOUN
hassl-3690	340	9	the	the	DET
hassl-3690	340	10	company	company	NOUN
hassl-3690	340	11	was	be	AUX
hassl-3690	340	12	founded	found	VERB
hassl-3690	340	13	up	up	ADP
hassl-3690	340	14	to	to	ADP
hassl-3690	340	15	the	the	DET
hassl-3690	340	16	research	research	NOUN
hassl-3690	340	17	period	period	NOUN
hassl-3690	340	18	.	.	PUNCT
hassl-3690	341	1	lev	lev	NOUN
hassl-3690	341	2	=	=	SYM
hassl-3690	341	3	leverage	leverage	NOUN
hassl-3690	341	4	,	,	PUNCT
hassl-3690	341	5	namely	namely	ADV
hassl-3690	341	6	total	total	ADJ
hassl-3690	341	7	debt	debt	NOUN
hassl-3690	341	8	divided	divide	VERB
hassl-3690	341	9	by	by	ADP
hassl-3690	341	10	the	the	DET
hassl-3690	341	11	book	book	NOUN
hassl-3690	341	12	value	value	NOUN
hassl-3690	341	13	of	of	ADP
hassl-3690	341	14	total	total	ADJ
hassl-3690	341	15	capital	capital	NOUN
hassl-3690	341	16	,	,	PUNCT
hassl-3690	341	17	bs	bs	NOUN
hassl-3690	341	18	=	=	NOUN
hassl-3690	341	19	the	the	DET
hassl-3690	341	20	number	number	NOUN
hassl-3690	341	21	of	of	ADP
hassl-3690	341	22	com	com	NOUN
hassl-3690	341	23	missioners	missioner	NOUN
hassl-3690	341	24	in	in	ADP
hassl-3690	341	25	one	one	NUM
hassl-3690	341	26	company	company	NOUN
hassl-3690	341	27	.	.	PUNCT
hassl-3690	342	1	vt	vt	NOUN
hassl-3690	342	2	=	=	NOUN
hassl-3690	342	3	turnover	turnover	NOUN
hassl-3690	342	4	volume	volume	NOUN
hassl-3690	342	5	.	.	PUNCT
hassl-3690	343	1	indt	indt	NOUN
hassl-3690	343	2	:	:	PUNCT
hassl-3690	343	3	dummy	dummy	ADJ
hassl-3690	343	4	variable	variable	NOUN
hassl-3690	343	5	,	,	PUNCT
hassl-3690	343	6	manufacturing	manufacturing	NOUN
hassl-3690	343	7	firm	firm	NOUN
hassl-3690	343	8	:	:	PUNCT
hassl-3690	343	9	1	1	NUM
hassl-3690	343	10	and	and	CCONJ
hassl-3690	343	11	non	non	ADJ
hassl-3690	343	12	-	-	ADJ
hassl-3690	343	13	manufacturing	manufacturing	ADJ
hassl-3690	343	14	:	:	PUNCT
hassl-3690	343	15	0	0	X
hassl-3690	343	16	.	.	X
hassl-3690	343	17	humanities	humanity	NOUN
hassl-3690	343	18	and	and	CCONJ
hassl-3690	343	19	social	social	ADJ
hassl-3690	343	20	sciences	science	NOUN
hassl-3690	343	21	letters	letter	NOUN
hassl-3690	343	22	,	,	PUNCT
hassl-3690	343	23	2024	2024	NUM
hassl-3690	343	24	,	,	PUNCT
hassl-3690	343	25	12(2	12(2	NUM
hassl-3690	343	26	):	):	PUNCT
hassl-3690	343	27	218	218	NUM
hassl-3690	343	28	-	-	SYM
hassl-3690	343	29	232	232	NUM
hassl-3690	343	30	229	229	NUM
hassl-3690	343	31	©	©	PROPN
hassl-3690	343	32	2024	2024	NUM
hassl-3690	343	33	conscientia	conscientia	PROPN
hassl-3690	343	34	beam	beam	PROPN
hassl-3690	343	35	.	.	PUNCT
hassl-3690	344	1	all	all	DET
hassl-3690	344	2	rights	right	NOUN
hassl-3690	344	3	reserved	reserve	VERB
hassl-3690	344	4	.	.	PUNCT
hassl-3690	345	1	according	accord	VERB
hassl-3690	345	2	to	to	ADP
hassl-3690	345	3	the	the	DET
hassl-3690	345	4	study	study	NOUN
hassl-3690	345	5	's	's	PART
hassl-3690	345	6	consistent	consistent	ADJ
hassl-3690	345	7	findings	finding	NOUN
hassl-3690	345	8	,	,	PUNCT
hassl-3690	345	9	numerous	numerous	ADJ
hassl-3690	345	10	directorships	directorship	NOUN
hassl-3690	345	11	have	have	VERB
hassl-3690	345	12	a	a	DET
hassl-3690	345	13	negative	negative	ADJ
hassl-3690	345	14	influence	influence	NOUN
hassl-3690	345	15	on	on	ADP
hassl-3690	345	16	idiosyncratic	idiosyncratic	ADJ
hassl-3690	345	17	risk	risk	NOUN
hassl-3690	345	18	,	,	PUNCT
hassl-3690	345	19	but	but	CCONJ
hassl-3690	345	20	substantial	substantial	ADJ
hassl-3690	345	21	shareholders	shareholder	NOUN
hassl-3690	345	22	have	have	VERB
hassl-3690	345	23	a	a	DET
hassl-3690	345	24	favourable	favourable	ADJ
hassl-3690	345	25	effect	effect	NOUN
hassl-3690	345	26	.	.	PUNCT
hassl-3690	346	1	the	the	DET
hassl-3690	346	2	role	role	NOUN
hassl-3690	346	3	of	of	ADP
hassl-3690	346	4	multiple	multiple	ADJ
hassl-3690	346	5	directorships	directorship	NOUN
hassl-3690	346	6	as	as	ADP
hassl-3690	346	7	a	a	DET
hassl-3690	346	8	moderating	moderate	VERB
hassl-3690	346	9	variable	variable	NOUN
hassl-3690	346	10	can	can	AUX
hassl-3690	346	11	minimize	minimize	VERB
hassl-3690	346	12	the	the	DET
hassl-3690	346	13	occurrence	occurrence	NOUN
hassl-3690	346	14	of	of	ADP
hassl-3690	346	15	idiosyncratic	idiosyncratic	ADJ
hassl-3690	346	16	risk	risk	NOUN
hassl-3690	346	17	which	which	PRON
hassl-3690	346	18	means	mean	VERB
hassl-3690	346	19	it	it	PRON
hassl-3690	346	20	supports	support	VERB
hassl-3690	346	21	the	the	DET
hassl-3690	346	22	reputational	reputational	ADJ
hassl-3690	346	23	hypothesis	hypothesis	NOUN
hassl-3690	346	24	.	.	PUNCT
hassl-3690	347	1	7	7	X
hassl-3690	347	2	.	.	X
hassl-3690	347	3	conclusion	conclusion	NOUN
hassl-3690	347	4	indonesian	indonesian	ADJ
hassl-3690	347	5	companies	company	NOUN
hassl-3690	347	6	with	with	ADP
hassl-3690	347	7	concentrated	concentrated	ADJ
hassl-3690	347	8	ownership	ownership	NOUN
hassl-3690	347	9	cause	cause	SCONJ
hassl-3690	347	10	agency	agency	NOUN
hassl-3690	347	11	problems	problem	NOUN
hassl-3690	347	12	for	for	ADP
hassl-3690	347	13	large	large	ADJ
hassl-3690	347	14	and	and	CCONJ
hassl-3690	347	15	small	small	ADJ
hassl-3690	347	16	shareholders	shareholder	NOUN
hassl-3690	347	17	.	.	PUNCT
hassl-3690	348	1	personal	personal	ADJ
hassl-3690	348	2	interests	interest	NOUN
hassl-3690	348	3	prevent	prevent	VERB
hassl-3690	348	4	large	large	ADJ
hassl-3690	348	5	shareholders	shareholder	NOUN
hassl-3690	348	6	from	from	ADP
hassl-3690	348	7	being	be	AUX
hassl-3690	348	8	effectively	effectively	ADV
hassl-3690	348	9	implemented	implement	VERB
hassl-3690	348	10	when	when	SCONJ
hassl-3690	348	11	they	they	PRON
hassl-3690	348	12	serve	serve	VERB
hassl-3690	348	13	as	as	ADP
hassl-3690	348	14	supervisors	supervisor	NOUN
hassl-3690	348	15	which	which	PRON
hassl-3690	348	16	can	can	AUX
hassl-3690	348	17	lead	lead	VERB
hassl-3690	348	18	to	to	ADP
hassl-3690	348	19	an	an	DET
hassl-3690	348	20	increase	increase	NOUN
hassl-3690	348	21	in	in	ADP
hassl-3690	348	22	idiosyncratic	idiosyncratic	ADJ
hassl-3690	348	23	risk	risk	NOUN
hassl-3690	348	24	.	.	PUNCT
hassl-3690	349	1	thus	thus	ADV
hassl-3690	349	2	,	,	PUNCT
hassl-3690	349	3	in	in	ADP
hassl-3690	349	4	corporate	corporate	ADJ
hassl-3690	349	5	management	management	NOUN
hassl-3690	349	6	,	,	PUNCT
hassl-3690	349	7	the	the	DET
hassl-3690	349	8	role	role	NOUN
hassl-3690	349	9	of	of	ADP
hassl-3690	349	10	multiple	multiple	ADJ
hassl-3690	349	11	directorships	directorship	NOUN
hassl-3690	349	12	as	as	SCONJ
hassl-3690	349	13	the	the	DET
hassl-3690	349	14	supervisory	supervisory	ADJ
hassl-3690	349	15	board	board	NOUN
hassl-3690	349	16	can	can	AUX
hassl-3690	349	17	minimize	minimize	VERB
hassl-3690	349	18	idiosyncratic	idiosyncratic	ADJ
hassl-3690	349	19	risk	risk	NOUN
hassl-3690	349	20	.	.	PUNCT
hassl-3690	350	1	this	this	DET
hassl-3690	350	2	study	study	NOUN
hassl-3690	350	3	evaluates	evaluate	VERB
hassl-3690	350	4	the	the	DET
hassl-3690	350	5	direct	direct	ADJ
hassl-3690	350	6	relationship	relationship	NOUN
hassl-3690	350	7	between	between	ADP
hassl-3690	350	8	large	large	ADJ
hassl-3690	350	9	shareholders	shareholder	NOUN
hassl-3690	350	10	and	and	CCONJ
hassl-3690	350	11	idiosyncratic	idiosyncratic	ADJ
hassl-3690	350	12	risk	risk	NOUN
hassl-3690	350	13	and	and	CCONJ
hassl-3690	350	14	multiple	multiple	ADJ
hassl-3690	350	15	directorships	directorship	NOUN
hassl-3690	350	16	as	as	ADP
hassl-3690	350	17	a	a	DET
hassl-3690	350	18	moderating	moderate	VERB
hassl-3690	350	19	variable	variable	NOUN
hassl-3690	350	20	in	in	ADP
hassl-3690	350	21	companies	company	NOUN
hassl-3690	350	22	listed	list	VERB
hassl-3690	350	23	on	on	ADP
hassl-3690	350	24	the	the	DET
hassl-3690	350	25	indonesian	indonesian	ADJ
hassl-3690	350	26	stock	stock	PROPN
hassl-3690	350	27	exchange	exchange	PROPN
hassl-3690	350	28	for	for	ADP
hassl-3690	350	29	2017-2021.the	2017-2021.the	DET
hassl-3690	350	30	study	study	NOUN
hassl-3690	350	31	results	result	NOUN
hassl-3690	350	32	show	show	VERB
hassl-3690	350	33	that	that	SCONJ
hassl-3690	350	34	large	large	ADJ
hassl-3690	350	35	shareholders	shareholder	NOUN
hassl-3690	350	36	can	can	AUX
hassl-3690	350	37	strengthen	strengthen	VERB
hassl-3690	350	38	multiple	multiple	ADJ
hassl-3690	350	39	directorships	directorship	NOUN
hassl-3690	350	40	to	to	PART
hassl-3690	350	41	reduce	reduce	VERB
hassl-3690	350	42	idiosyncratic	idiosyncratic	ADJ
hassl-3690	350	43	risk	risk	NOUN
hassl-3690	350	44	which	which	PRON
hassl-3690	350	45	means	mean	VERB
hassl-3690	350	46	the	the	DET
hassl-3690	350	47	role	role	NOUN
hassl-3690	350	48	of	of	ADP
hassl-3690	350	49	multiple	multiple	ADJ
hassl-3690	350	50	directorships	directorship	NOUN
hassl-3690	350	51	supports	support	VERB
hassl-3690	350	52	the	the	DET
hassl-3690	350	53	reputational	reputational	ADJ
hassl-3690	350	54	hypothesis	hypothesis	NOUN
hassl-3690	350	55	.	.	PUNCT
hassl-3690	351	1	multiple	multiple	ADJ
hassl-3690	351	2	directorships	directorship	NOUN
hassl-3690	351	3	that	that	PRON
hassl-3690	351	4	occur	occur	VERB
hassl-3690	351	5	in	in	ADP
hassl-3690	351	6	indonesia	indonesia	PROPN
hassl-3690	351	7	are	be	AUX
hassl-3690	351	8	legal	legal	ADJ
hassl-3690	351	9	considering	consider	VERB
hassl-3690	351	10	that	that	SCONJ
hassl-3690	351	11	there	there	PRON
hassl-3690	351	12	are	be	VERB
hassl-3690	351	13	official	official	ADJ
hassl-3690	351	14	government	government	NOUN
hassl-3690	351	15	regulations	regulation	NOUN
hassl-3690	351	16	,	,	PUNCT
hassl-3690	351	17	namely	namely	ADV
hassl-3690	351	18	pojk	pojk	NOUN
hassl-3690	351	19	regulation	regulation	NOUN
hassl-3690	351	20	no	no	NOUN
hassl-3690	351	21	.	.	NOUN
hassl-3690	352	1	33	33	NUM
hassl-3690	352	2	/	/	SYM
hassl-3690	352	3	pojk.04/2014	pojk.04/2014	NOUN
hassl-3690	352	4	so	so	SCONJ
hassl-3690	352	5	that	that	SCONJ
hassl-3690	352	6	the	the	DET
hassl-3690	352	7	existence	existence	NOUN
hassl-3690	352	8	of	of	ADP
hassl-3690	352	9	multiple	multiple	ADJ
hassl-3690	352	10	directorships	directorship	NOUN
hassl-3690	352	11	provides	provide	VERB
hassl-3690	352	12	more	more	ADJ
hassl-3690	352	13	benefits	benefit	NOUN
hassl-3690	352	14	in	in	ADP
hassl-3690	352	15	terms	term	NOUN
hassl-3690	352	16	of	of	ADP
hassl-3690	352	17	monitoring	monitoring	NOUN
hassl-3690	352	18	and	and	CCONJ
hassl-3690	352	19	advice	advice	NOUN
hassl-3690	352	20	to	to	ADP
hassl-3690	352	21	management	management	NOUN
hassl-3690	352	22	regarding	regard	VERB
hassl-3690	352	23	risks	risk	NOUN
hassl-3690	352	24	occurring	occur	VERB
hassl-3690	352	25	in	in	ADP
hassl-3690	352	26	the	the	DET
hassl-3690	352	27	company	company	NOUN
hassl-3690	352	28	.	.	PUNCT
hassl-3690	353	1	8	8	X
hassl-3690	353	2	.	.	X
hassl-3690	353	3	limitation	limitation	NOUN
hassl-3690	353	4	and	and	CCONJ
hassl-3690	353	5	direction	direction	NOUN
hassl-3690	353	6	for	for	ADP
hassl-3690	353	7	future	future	ADJ
hassl-3690	353	8	research	research	NOUN
hassl-3690	353	9	the	the	DET
hassl-3690	353	10	lack	lack	NOUN
hassl-3690	353	11	of	of	ADP
hassl-3690	353	12	a	a	DET
hassl-3690	353	13	difference	difference	NOUN
hassl-3690	353	14	between	between	ADP
hassl-3690	353	15	cash	cash	NOUN
hassl-3690	353	16	flow	flow	NOUN
hassl-3690	353	17	and	and	CCONJ
hassl-3690	353	18	control	control	NOUN
hassl-3690	353	19	rights	right	NOUN
hassl-3690	353	20	is	be	AUX
hassl-3690	353	21	one	one	NUM
hassl-3690	353	22	of	of	ADP
hassl-3690	353	23	the	the	DET
hassl-3690	353	24	research	research	NOUN
hassl-3690	353	25	's	's	PART
hassl-3690	353	26	limitations	limitation	NOUN
hassl-3690	353	27	.	.	PUNCT
hassl-3690	354	1	the	the	DET
hassl-3690	354	2	author	author	NOUN
hassl-3690	354	3	suggests	suggest	VERB
hassl-3690	354	4	that	that	SCONJ
hassl-3690	354	5	future	future	ADJ
hassl-3690	354	6	research	research	NOUN
hassl-3690	354	7	on	on	ADP
hassl-3690	354	8	the	the	DET
hassl-3690	354	9	topic	topic	NOUN
hassl-3690	354	10	of	of	ADP
hassl-3690	354	11	multiple	multiple	ADJ
hassl-3690	354	12	directorships	directorship	NOUN
hassl-3690	354	13	should	should	AUX
hassl-3690	354	14	compare	compare	VERB
hassl-3690	354	15	the	the	DET
hassl-3690	354	16	implementation	implementation	NOUN
hassl-3690	354	17	of	of	ADP
hassl-3690	354	18	one	one	NUM
hassl-3690	354	19	-	-	PUNCT
hassl-3690	354	20	tier	tier	NOUN
hassl-3690	354	21	and	and	CCONJ
hassl-3690	354	22	two	two	NUM
hassl-3690	354	23	-	-	PUNCT
hassl-3690	354	24	tier	tier	NOUN
hassl-3690	354	25	systems	system	NOUN
hassl-3690	354	26	in	in	ADP
hassl-3690	354	27	different	different	ADJ
hassl-3690	354	28	countries	country	NOUN
hassl-3690	354	29	.	.	PUNCT
hassl-3690	355	1	in	in	ADP
hassl-3690	355	2	addition	addition	NOUN
hassl-3690	355	3	,	,	PUNCT
hassl-3690	355	4	the	the	DET
hassl-3690	355	5	study	study	NOUN
hassl-3690	355	6	should	should	AUX
hassl-3690	355	7	take	take	VERB
hassl-3690	355	8	into	into	ADP
hassl-3690	355	9	account	account	NOUN
hassl-3690	355	10	the	the	DET
hassl-3690	355	11	gender	gender	NOUN
hassl-3690	355	12	and	and	CCONJ
hassl-3690	355	13	age	age	NOUN
hassl-3690	355	14	distribution	distribution	NOUN
hassl-3690	355	15	of	of	ADP
hassl-3690	355	16	the	the	DET
hassl-3690	355	17	positions	position	NOUN
hassl-3690	355	18	.	.	PUNCT
hassl-3690	356	1	funding	funding	NOUN
hassl-3690	356	2	:	:	PUNCT
hassl-3690	356	3	this	this	DET
hassl-3690	356	4	research	research	NOUN
hassl-3690	356	5	is	be	AUX
hassl-3690	356	6	supported	support	VERB
hassl-3690	356	7	by	by	ADP
hassl-3690	356	8	the	the	DET
hassl-3690	356	9	university	university	PROPN
hassl-3690	356	10	of	of	ADP
hassl-3690	356	11	indonesia	indonesia	PROPN
hassl-3690	356	12	(	(	PUNCT
hassl-3690	356	13	grant	grant	PROPN
hassl-3690	356	14	number	number	NOUN
hassl-3690	356	15	:	:	PUNCT
hassl-3690	356	16	nkb025	nkb025	NOUN
hassl-3690	356	17	/	/	SYM
hassl-3690	356	18	un2.rst	un2.rst	PROPN
hassl-3690	356	19	/	/	SYM
hassl-3690	356	20	hkp.05.00/2023	hkp.05.00/2023	PROPN
hassl-3690	356	21	)	)	PUNCT
hassl-3690	356	22	.	.	PUNCT
hassl-3690	357	1	institutional	institutional	ADJ
hassl-3690	357	2	review	review	PROPN
hassl-3690	357	3	board	board	NOUN
hassl-3690	357	4	statement	statement	NOUN
hassl-3690	357	5	:	:	PUNCT
hassl-3690	357	6	the	the	DET
hassl-3690	357	7	ethical	ethical	ADJ
hassl-3690	357	8	committee	committee	NOUN
hassl-3690	357	9	of	of	ADP
hassl-3690	357	10	the	the	DET
hassl-3690	357	11	university	university	PROPN
hassl-3690	357	12	of	of	ADP
hassl-3690	357	13	indonesia	indonesia	PROPN
hassl-3690	357	14	,	,	PUNCT
hassl-3690	357	15	indonesia	indonesia	PROPN
hassl-3690	357	16	has	have	AUX
hassl-3690	357	17	granted	grant	VERB
hassl-3690	357	18	approval	approval	NOUN
hassl-3690	357	19	for	for	ADP
hassl-3690	357	20	this	this	DET
hassl-3690	357	21	study	study	NOUN
hassl-3690	357	22	on	on	ADP
hassl-3690	357	23	3	3	NUM
hassl-3690	357	24	april	april	PROPN
hassl-3690	357	25	2023	2023	NUM
hassl-3690	357	26	(	(	PUNCT
hassl-3690	357	27	ref	ref	NOUN
hassl-3690	357	28	.	.	PUNCT
hassl-3690	358	1	no	no	INTJ
hassl-3690	358	2	.	.	PUNCT
hassl-3690	359	1	peng-001	peng-001	NOUN
hassl-3690	359	2	/	/	SYM
hassl-3690	359	3	un2.rst	un2.rst	ADJ
hassl-3690	359	4	/	/	SYM
hassl-3690	359	5	ppm.00.00/2023	ppm.00.00/2023	NOUN
hassl-3690	359	6	)	)	PUNCT
hassl-3690	359	7	.	.	PUNCT
hassl-3690	360	1	transparency	transparency	NOUN
hassl-3690	360	2	:	:	PUNCT
hassl-3690	360	3	the	the	DET
hassl-3690	360	4	authors	author	NOUN
hassl-3690	360	5	state	state	VERB
hassl-3690	360	6	that	that	SCONJ
hassl-3690	360	7	the	the	DET
hassl-3690	360	8	manuscript	manuscript	NOUN
hassl-3690	360	9	is	be	AUX
hassl-3690	360	10	honest	honest	ADJ
hassl-3690	360	11	,	,	PUNCT
hassl-3690	360	12	truthful	truthful	ADJ
hassl-3690	360	13	,	,	PUNCT
hassl-3690	360	14	and	and	CCONJ
hassl-3690	360	15	transparent	transparent	ADJ
hassl-3690	360	16	,	,	PUNCT
hassl-3690	360	17	that	that	SCONJ
hassl-3690	360	18	no	no	DET
hassl-3690	360	19	key	key	ADJ
hassl-3690	360	20	aspects	aspect	NOUN
hassl-3690	360	21	of	of	ADP
hassl-3690	360	22	the	the	DET
hassl-3690	360	23	investigation	investigation	NOUN
hassl-3690	360	24	have	have	AUX
hassl-3690	360	25	been	be	AUX
hassl-3690	360	26	omitted	omit	VERB
hassl-3690	360	27	,	,	PUNCT
hassl-3690	360	28	and	and	CCONJ
hassl-3690	360	29	that	that	SCONJ
hassl-3690	360	30	any	any	DET
hassl-3690	360	31	differences	difference	NOUN
hassl-3690	360	32	from	from	ADP
hassl-3690	360	33	the	the	DET
hassl-3690	360	34	study	study	NOUN
hassl-3690	360	35	as	as	SCONJ
hassl-3690	360	36	planned	plan	VERB
hassl-3690	360	37	have	have	AUX
hassl-3690	360	38	been	be	AUX
hassl-3690	360	39	clarified	clarify	VERB
hassl-3690	360	40	.	.	PUNCT
hassl-3690	361	1	this	this	DET
hassl-3690	361	2	study	study	NOUN
hassl-3690	361	3	followed	follow	VERB
hassl-3690	361	4	all	all	PRON
hassl-3690	361	5	writing	write	VERB
hassl-3690	361	6	ethics	ethic	NOUN
hassl-3690	361	7	.	.	PUNCT
hassl-3690	362	1	competing	compete	VERB
hassl-3690	362	2	interests	interest	NOUN
hassl-3690	362	3	:	:	PUNCT
hassl-3690	362	4	the	the	DET
hassl-3690	362	5	authors	author	NOUN
hassl-3690	362	6	declare	declare	VERB
hassl-3690	362	7	that	that	SCONJ
hassl-3690	362	8	they	they	PRON
hassl-3690	362	9	have	have	VERB
hassl-3690	362	10	no	no	DET
hassl-3690	362	11	competing	compete	VERB
hassl-3690	362	12	interests	interest	NOUN
hassl-3690	362	13	.	.	PUNCT
hassl-3690	363	1	authors	author	NOUN
hassl-3690	363	2	’	'	PUNCT
hassl-3690	363	3	contributions	contribution	NOUN
hassl-3690	363	4	:	:	PUNCT
hassl-3690	363	5	all	all	DET
hassl-3690	363	6	authors	author	NOUN
hassl-3690	363	7	contributed	contribute	VERB
hassl-3690	363	8	equally	equally	ADV
hassl-3690	363	9	to	to	ADP
hassl-3690	363	10	the	the	DET
hassl-3690	363	11	conception	conception	NOUN
hassl-3690	363	12	and	and	CCONJ
hassl-3690	363	13	design	design	NOUN
hassl-3690	363	14	of	of	ADP
hassl-3690	363	15	the	the	DET
hassl-3690	363	16	study	study	NOUN
hassl-3690	363	17	.	.	PUNCT
hassl-3690	364	1	all	all	DET
hassl-3690	364	2	authors	author	NOUN
hassl-3690	364	3	have	have	AUX
hassl-3690	364	4	read	read	VERB
hassl-3690	364	5	and	and	CCONJ
hassl-3690	364	6	agreed	agree	VERB
hassl-3690	364	7	to	to	ADP
hassl-3690	364	8	the	the	DET
hassl-3690	364	9	published	publish	VERB
hassl-3690	364	10	version	version	NOUN
hassl-3690	364	11	of	of	ADP
hassl-3690	364	12	the	the	DET
hassl-3690	364	13	manuscript	manuscript	NOUN
hassl-3690	364	14	.	.	PUNCT
hassl-3690	365	1	references	reference	NOUN
hassl-3690	365	2	ahn	ahn	PROPN
hassl-3690	365	3	,	,	PUNCT
hassl-3690	365	4	s.	s.	PROPN
hassl-3690	365	5	,	,	PUNCT
hassl-3690	365	6	jiraporn	jiraporn	NOUN
hassl-3690	365	7	,	,	PUNCT
hassl-3690	365	8	p.	p.	NOUN
hassl-3690	365	9	,	,	PUNCT
hassl-3690	365	10	&	&	CCONJ
hassl-3690	365	11	kim	kim	PROPN
hassl-3690	365	12	,	,	PUNCT
hassl-3690	365	13	y.	y.	PROPN
hassl-3690	365	14	s.	s.	PROPN
hassl-3690	365	15	(	(	PUNCT
hassl-3690	365	16	2010	2010	NUM
hassl-3690	365	17	)	)	PUNCT
hassl-3690	365	18	.	.	PUNCT
hassl-3690	366	1	multiple	multiple	ADJ
hassl-3690	366	2	directorships	directorship	NOUN
hassl-3690	366	3	and	and	CCONJ
hassl-3690	366	4	acquirer	acquirer	NOUN
hassl-3690	366	5	returns	return	NOUN
hassl-3690	366	6	.	.	PUNCT
hassl-3690	367	1	journal	journal	NOUN
hassl-3690	367	2	of	of	ADP
hassl-3690	367	3	banking	banking	NOUN
hassl-3690	367	4	&	&	CCONJ
hassl-3690	367	5	finance	finance	NOUN
hassl-3690	367	6	,	,	PUNCT
hassl-3690	367	7	34(9	34(9	NUM
hassl-3690	367	8	)	)	PUNCT
hassl-3690	367	9	,	,	PUNCT
hassl-3690	367	10	2011	2011	NUM
hassl-3690	367	11	-	-	SYM
hassl-3690	367	12	2026	2026	NUM
hassl-3690	367	13	.	.	PUNCT
hassl-3690	368	1	https://doi.org/10.1016/j.jbankfin.2010.01.009	https://doi.org/10.1016/j.jbankfin.2010.01.009	NUM
hassl-3690	368	2	anantharaman	anantharaman	PROPN
hassl-3690	368	3	,	,	PUNCT
hassl-3690	368	4	d.	d.	PROPN
hassl-3690	368	5	,	,	PUNCT
hassl-3690	368	6	&	&	CCONJ
hassl-3690	368	7	fang	fang	PROPN
hassl-3690	368	8	,	,	PUNCT
hassl-3690	368	9	v.	v.	ADP
hassl-3690	368	10	w.	w.	PROPN
hassl-3690	368	11	(	(	PUNCT
hassl-3690	368	12	2012	2012	NUM
hassl-3690	368	13	)	)	PUNCT
hassl-3690	368	14	.	.	PUNCT
hassl-3690	369	1	executive	executive	ADJ
hassl-3690	369	2	debt	debt	NOUN
hassl-3690	369	3	-	-	PUNCT
hassl-3690	369	4	like	like	ADJ
hassl-3690	369	5	compensation	compensation	NOUN
hassl-3690	369	6	.	.	PUNCT
hassl-3690	370	1	in	in	ADP
hassl-3690	370	2	corporate	corporate	ADJ
hassl-3690	370	3	governance	governance	NOUN
hassl-3690	370	4	:	:	PUNCT
hassl-3690	370	5	recent	recent	ADJ
hassl-3690	370	6	developments	development	NOUN
hassl-3690	370	7	and	and	CCONJ
hassl-3690	370	8	new	new	ADJ
hassl-3690	370	9	trends	trend	NOUN
hassl-3690	370	10	.	.	PUNCT
hassl-3690	371	1	in	in	ADP
hassl-3690	371	2	(	(	PUNCT
hassl-3690	371	3	pp	pp	ADJ
hassl-3690	371	4	.	.	PUNCT
hassl-3690	371	5	139	139	NUM
hassl-3690	371	6	-	-	SYM
hassl-3690	371	7	156	156	NUM
hassl-3690	371	8	)	)	PUNCT
hassl-3690	371	9	.	.	PUNCT
hassl-3690	372	1	berlin	berlin	PROPN
hassl-3690	372	2	,	,	PUNCT
hassl-3690	372	3	heidelberg	heidelberg	PROPN
hassl-3690	372	4	:	:	PUNCT
hassl-3690	372	5	springer	springer	PROPN
hassl-3690	372	6	berlin	berlin	PROPN
hassl-3690	372	7	heidelberg	heidelberg	PROPN
hassl-3690	372	8	.	.	PUNCT
hassl-3690	373	1	ang	ang	PROPN
hassl-3690	373	2	,	,	PUNCT
hassl-3690	373	3	a.	a.	PROPN
hassl-3690	373	4	,	,	PUNCT
hassl-3690	373	5	hodrick	hodrick	PROPN
hassl-3690	373	6	,	,	PUNCT
hassl-3690	373	7	r.	r.	PROPN
hassl-3690	373	8	j.	j.	PROPN
hassl-3690	373	9	,	,	PUNCT
hassl-3690	373	10	xing	xing	PROPN
hassl-3690	373	11	,	,	PUNCT
hassl-3690	373	12	y.	y.	PROPN
hassl-3690	373	13	,	,	PUNCT
hassl-3690	373	14	&	&	CCONJ
hassl-3690	373	15	zhang	zhang	PROPN
hassl-3690	373	16	,	,	PUNCT
hassl-3690	373	17	x.	x.	PROPN
hassl-3690	373	18	(	(	PUNCT
hassl-3690	373	19	2009	2009	NUM
hassl-3690	373	20	)	)	PUNCT
hassl-3690	373	21	.	.	PUNCT
hassl-3690	374	1	high	high	ADJ
hassl-3690	374	2	idiosyncratic	idiosyncratic	ADJ
hassl-3690	374	3	volatility	volatility	NOUN
hassl-3690	374	4	and	and	CCONJ
hassl-3690	374	5	low	low	ADJ
hassl-3690	374	6	returns	return	NOUN
hassl-3690	374	7	:	:	PUNCT
hassl-3690	374	8	international	international	ADJ
hassl-3690	374	9	and	and	CCONJ
hassl-3690	374	10	further	further	ADJ
hassl-3690	374	11	us	us	PROPN
hassl-3690	374	12	evidence	evidence	NOUN
hassl-3690	374	13	.	.	PUNCT
hassl-3690	375	1	journal	journal	NOUN
hassl-3690	375	2	of	of	ADP
hassl-3690	375	3	financial	financial	ADJ
hassl-3690	375	4	economics	economic	NOUN
hassl-3690	375	5	,	,	PUNCT
hassl-3690	375	6	91(1	91(1	NUM
hassl-3690	375	7	)	)	PUNCT
hassl-3690	375	8	,	,	PUNCT
hassl-3690	375	9	1	1	NUM
hassl-3690	375	10	-	-	SYM
hassl-3690	375	11	23	23	NUM
hassl-3690	375	12	.	.	PUNCT
hassl-3690	376	1	https://doi.org/10.1016/j.jfineco.2007.12.005	https://doi.org/10.1016/j.jfineco.2007.12.005	PROPN
hassl-3690	376	2	attig	attig	NOUN
hassl-3690	376	3	,	,	PUNCT
hassl-3690	376	4	n.	n.	NOUN
hassl-3690	376	5	,	,	PUNCT
hassl-3690	376	6	el	el	PROPN
hassl-3690	376	7	ghoul	ghoul	PROPN
hassl-3690	376	8	,	,	PUNCT
hassl-3690	376	9	s.	s.	PROPN
hassl-3690	376	10	,	,	PUNCT
hassl-3690	376	11	&	&	CCONJ
hassl-3690	376	12	guedhami	guedhami	NOUN
hassl-3690	376	13	,	,	PUNCT
hassl-3690	376	14	o.	o.	PROPN
hassl-3690	376	15	(	(	PUNCT
hassl-3690	376	16	2009	2009	NUM
hassl-3690	376	17	)	)	PUNCT
hassl-3690	376	18	.	.	PUNCT
hassl-3690	377	1	do	do	AUX
hassl-3690	377	2	multiple	multiple	ADJ
hassl-3690	377	3	large	large	ADJ
hassl-3690	377	4	shareholders	shareholder	NOUN
hassl-3690	377	5	play	play	VERB
hassl-3690	377	6	a	a	DET
hassl-3690	377	7	corporate	corporate	ADJ
hassl-3690	377	8	governance	governance	NOUN
hassl-3690	377	9	role	role	NOUN
hassl-3690	377	10	?	?	PUNCT
hassl-3690	378	1	evidence	evidence	NOUN
hassl-3690	378	2	from	from	ADP
hassl-3690	378	3	east	east	PROPN
hassl-3690	378	4	asia	asia	PROPN
hassl-3690	378	5	.	.	PUNCT
hassl-3690	379	1	journal	journal	PROPN
hassl-3690	379	2	of	of	ADP
hassl-3690	379	3	financial	financial	ADJ
hassl-3690	379	4	research	research	NOUN
hassl-3690	379	5	,	,	PUNCT
hassl-3690	379	6	32(4	32(4	NUM
hassl-3690	379	7	)	)	PUNCT
hassl-3690	379	8	,	,	PUNCT
hassl-3690	379	9	395	395	NUM
hassl-3690	379	10	-	-	SYM
hassl-3690	379	11	422	422	NUM
hassl-3690	379	12	.	.	PUNCT
hassl-3690	380	1	https://doi.org/10.1111/j.1475-6803.2009.01255.x	https://doi.org/10.1111/j.1475-6803.2009.01255.x	NOUN
hassl-3690	380	2	auvray	auvray	PROPN
hassl-3690	380	3	,	,	PUNCT
hassl-3690	380	4	t.	t.	PROPN
hassl-3690	380	5	,	,	PUNCT
hassl-3690	380	6	&	&	CCONJ
hassl-3690	380	7	brossard	brossard	PROPN
hassl-3690	380	8	,	,	PUNCT
hassl-3690	380	9	o.	o.	PROPN
hassl-3690	380	10	(	(	PUNCT
hassl-3690	380	11	2012	2012	NUM
hassl-3690	380	12	)	)	PUNCT
hassl-3690	380	13	.	.	PUNCT
hassl-3690	381	1	too	too	ADV
hassl-3690	381	2	dispersed	disperse	VERB
hassl-3690	381	3	to	to	PART
hassl-3690	381	4	monitor	monitor	VERB
hassl-3690	381	5	?	?	PUNCT
hassl-3690	381	6	ownership	ownership	NOUN
hassl-3690	381	7	dispersion	dispersion	NOUN
hassl-3690	381	8	,	,	PUNCT
hassl-3690	381	9	monitoring	monitoring	NOUN
hassl-3690	381	10	,	,	PUNCT
hassl-3690	381	11	and	and	CCONJ
hassl-3690	381	12	the	the	DET
hassl-3690	381	13	prediction	prediction	NOUN
hassl-3690	381	14	of	of	ADP
hassl-3690	381	15	bank	bank	NOUN
hassl-3690	381	16	distress	distress	NOUN
hassl-3690	381	17	.	.	PUNCT
hassl-3690	382	1	journal	journal	NOUN
hassl-3690	382	2	of	of	ADP
hassl-3690	382	3	money	money	NOUN
hassl-3690	382	4	,	,	PUNCT
hassl-3690	382	5	credit	credit	NOUN
hassl-3690	382	6	and	and	CCONJ
hassl-3690	382	7	banking	banking	NOUN
hassl-3690	382	8	,	,	PUNCT
hassl-3690	382	9	44(4	44(4	NOUN
hassl-3690	382	10	)	)	PUNCT
hassl-3690	382	11	,	,	PUNCT
hassl-3690	382	12	685	685	NUM
hassl-3690	382	13	-	-	SYM
hassl-3690	382	14	714	714	NUM
hassl-3690	382	15	.	.	PUNCT
hassl-3690	383	1	https://doi.org/10.1111/j.1538-4616.2012.00506.x	https://doi.org/10.1111/j.1538-4616.2012.00506.x	PROPN
hassl-3690	383	2	bali	bali	PROPN
hassl-3690	383	3	,	,	PUNCT
hassl-3690	383	4	t.	t.	PROPN
hassl-3690	383	5	g.	g.	PROPN
hassl-3690	383	6	,	,	PUNCT
hassl-3690	383	7	cakici	cakici	NOUN
hassl-3690	383	8	,	,	PUNCT
hassl-3690	383	9	n.	n.	NOUN
hassl-3690	383	10	,	,	PUNCT
hassl-3690	383	11	yan	yan	PROPN
hassl-3690	383	12	,	,	PUNCT
hassl-3690	383	13	x.	x.	PROPN
hassl-3690	383	14	,	,	PUNCT
hassl-3690	383	15	&	&	CCONJ
hassl-3690	383	16	zhang	zhang	PROPN
hassl-3690	383	17	,	,	PUNCT
hassl-3690	383	18	z.	z.	PROPN
hassl-3690	383	19	(	(	PUNCT
hassl-3690	383	20	2005	2005	NUM
hassl-3690	383	21	)	)	PUNCT
hassl-3690	383	22	.	.	PUNCT
hassl-3690	384	1	does	do	AUX
hassl-3690	384	2	idiosyncratic	idiosyncratic	ADJ
hassl-3690	384	3	risk	risk	NOUN
hassl-3690	384	4	really	really	ADV
hassl-3690	384	5	matter	matter	ADV
hassl-3690	384	6	?	?	PUNCT
hassl-3690	385	1	the	the	DET
hassl-3690	385	2	journal	journal	PROPN
hassl-3690	385	3	of	of	ADP
hassl-3690	385	4	finance	finance	NOUN
hassl-3690	385	5	,	,	PUNCT
hassl-3690	385	6	60(2	60(2	NUM
hassl-3690	385	7	)	)	PUNCT
hassl-3690	385	8	,	,	PUNCT
hassl-3690	385	9	905	905	NUM
hassl-3690	385	10	-	-	SYM
hassl-3690	385	11	929	929	NUM
hassl-3690	385	12	.	.	PUNCT
hassl-3690	386	1	https://doi.org/10.1111/j.1540-6261.2005.00750.x	https://doi.org/10.1111/j.1540-6261.2005.00750.x	PROPN
hassl-3690	386	2	blundell	blundell	PROPN
hassl-3690	386	3	,	,	PUNCT
hassl-3690	386	4	r.	r.	PROPN
hassl-3690	386	5	,	,	PUNCT
hassl-3690	386	6	&	&	CCONJ
hassl-3690	386	7	bond	bond	PROPN
hassl-3690	386	8	,	,	PUNCT
hassl-3690	386	9	s.	s.	PROPN
hassl-3690	386	10	(	(	PUNCT
hassl-3690	386	11	2023	2023	NUM
hassl-3690	386	12	)	)	PUNCT
hassl-3690	386	13	.	.	PUNCT
hassl-3690	387	1	reprint	reprint	NOUN
hassl-3690	387	2	of	of	ADP
hassl-3690	387	3	:	:	PUNCT
hassl-3690	387	4	initial	initial	ADJ
hassl-3690	387	5	conditions	condition	NOUN
hassl-3690	387	6	and	and	CCONJ
hassl-3690	387	7	moment	moment	VERB
hassl-3690	387	8	restrictions	restriction	NOUN
hassl-3690	387	9	in	in	ADP
hassl-3690	387	10	dynamic	dynamic	ADJ
hassl-3690	387	11	panel	panel	NOUN
hassl-3690	387	12	data	datum	NOUN
hassl-3690	387	13	models	model	NOUN
hassl-3690	387	14	.	.	PUNCT
hassl-3690	388	1	journal	journal	NOUN
hassl-3690	388	2	of	of	ADP
hassl-3690	388	3	econometrics	econometric	NOUN
hassl-3690	388	4	,	,	PUNCT
hassl-3690	388	5	234	234	NUM
hassl-3690	388	6	,	,	PUNCT
hassl-3690	388	7	38	38	NUM
hassl-3690	388	8	-	-	SYM
hassl-3690	388	9	55	55	NUM
hassl-3690	388	10	.	.	PUNCT
hassl-3690	389	1	https://doi.org/10.1016/j.jeconom.2023.03.001	https://doi.org/10.1016/j.jeconom.2023.03.001	NOUN
hassl-3690	389	2	https://doi.org/10.1016/j.jbankfin.2010.01.009	https://doi.org/10.1016/j.jbankfin.2010.01.009	PROPN
hassl-3690	389	3	https://doi.org/10.1016/j.jfineco.2007.12.005	https://doi.org/10.1016/j.jfineco.2007.12.005	PROPN
hassl-3690	389	4	https://doi.org/10.1111/j.1475-6803.2009.01255.x	https://doi.org/10.1111/j.1475-6803.2009.01255.x	NOUN
hassl-3690	389	5	https://doi.org/10.1111/j.1538-4616.2012.00506.x	https://doi.org/10.1111/j.1538-4616.2012.00506.x	ADJ
hassl-3690	389	6	https://doi.org/10.1111/j.1540-6261.2005.00750.x	https://doi.org/10.1111/j.1540-6261.2005.00750.x	PROPN
hassl-3690	389	7	https://doi.org/10.1016/j.jeconom.2023.03.001	https://doi.org/10.1016/j.jeconom.2023.03.001	NOUN
hassl-3690	389	8	humanities	humanity	NOUN
hassl-3690	389	9	and	and	CCONJ
hassl-3690	389	10	social	social	ADJ
hassl-3690	389	11	sciences	science	NOUN
hassl-3690	389	12	letters	letter	NOUN
hassl-3690	389	13	,	,	PUNCT
hassl-3690	389	14	2024	2024	NUM
hassl-3690	389	15	,	,	PUNCT
hassl-3690	389	16	12(2	12(2	NUM
hassl-3690	389	17	):	):	PUNCT
hassl-3690	389	18	218	218	NUM
hassl-3690	389	19	-	-	SYM
hassl-3690	389	20	232	232	NUM
hassl-3690	389	21	230	230	NUM
hassl-3690	389	22	©	©	PROPN
hassl-3690	389	23	2024	2024	NUM
hassl-3690	389	24	conscientia	conscientia	PROPN
hassl-3690	389	25	beam	beam	PROPN
hassl-3690	389	26	.	.	PUNCT
hassl-3690	390	1	all	all	DET
hassl-3690	390	2	rights	right	NOUN
hassl-3690	390	3	reserved	reserve	VERB
hassl-3690	390	4	.	.	PUNCT
hassl-3690	391	1	brandt	brandt	PROPN
hassl-3690	391	2	,	,	PUNCT
hassl-3690	391	3	m.	m.	PROPN
hassl-3690	391	4	w.	w.	PROPN
hassl-3690	391	5	,	,	PUNCT
hassl-3690	391	6	brav	brav	PROPN
hassl-3690	391	7	,	,	PUNCT
hassl-3690	391	8	a.	a.	PROPN
hassl-3690	391	9	,	,	PUNCT
hassl-3690	391	10	graham	graham	PROPN
hassl-3690	391	11	,	,	PUNCT
hassl-3690	391	12	j.	j.	PROPN
hassl-3690	391	13	r.	r.	PROPN
hassl-3690	391	14	,	,	PUNCT
hassl-3690	391	15	&	&	CCONJ
hassl-3690	391	16	kumar	kumar	PROPN
hassl-3690	391	17	,	,	PUNCT
hassl-3690	391	18	a.	a.	NOUN
hassl-3690	391	19	(	(	PUNCT
hassl-3690	391	20	2010	2010	NUM
hassl-3690	391	21	)	)	PUNCT
hassl-3690	391	22	.	.	PUNCT
hassl-3690	392	1	the	the	DET
hassl-3690	392	2	idiosyncratic	idiosyncratic	ADJ
hassl-3690	392	3	volatility	volatility	NOUN
hassl-3690	392	4	puzzle	puzzle	NOUN
hassl-3690	392	5	:	:	PUNCT
hassl-3690	392	6	time	time	NOUN
hassl-3690	392	7	trend	trend	NOUN
hassl-3690	392	8	or	or	CCONJ
hassl-3690	392	9	speculative	speculative	ADJ
hassl-3690	392	10	ep	ep	PROPN
hassl-3690	392	11	isodes	isode	NOUN
hassl-3690	392	12	?	?	PUNCT
hassl-3690	393	1	the	the	DET
hassl-3690	393	2	review	review	NOUN
hassl-3690	393	3	of	of	ADP
hassl-3690	393	4	financial	financial	ADJ
hassl-3690	393	5	studies	study	NOUN
hassl-3690	393	6	,	,	PUNCT
hassl-3690	393	7	23(2	23(2	NOUN
hassl-3690	393	8	)	)	PUNCT
hassl-3690	393	9	,	,	PUNCT
hassl-3690	393	10	863	863	NUM
hassl-3690	393	11	-	-	SYM
hassl-3690	393	12	899	899	NUM
hassl-3690	393	13	.	.	PUNCT
hassl-3690	394	1	https://doi.org/10.1093/rfs/hhp087	https://doi.org/10.1093/rfs/hhp087	NOUN
hassl-3690	394	2	brown	brown	NOUN
hassl-3690	394	3	,	,	PUNCT
hassl-3690	394	4	g.	g.	PROPN
hassl-3690	394	5	,	,	PUNCT
hassl-3690	394	6	&	&	CCONJ
hassl-3690	394	7	kapadia	kapadia	PROPN
hassl-3690	394	8	,	,	PUNCT
hassl-3690	394	9	n.	n.	PROPN
hassl-3690	394	10	(	(	PUNCT
hassl-3690	394	11	2007	2007	NUM
hassl-3690	394	12	)	)	PUNCT
hassl-3690	394	13	.	.	PUNCT
hassl-3690	395	1	firm	firm	ADJ
hassl-3690	395	2	-	-	PUNCT
hassl-3690	395	3	specific	specific	ADJ
hassl-3690	395	4	risk	risk	NOUN
hassl-3690	395	5	and	and	CCONJ
hassl-3690	395	6	equity	equity	NOUN
hassl-3690	395	7	market	market	NOUN
hassl-3690	395	8	development	development	NOUN
hassl-3690	395	9	.	.	PUNCT
hassl-3690	396	1	journal	journal	PROPN
hassl-3690	396	2	of	of	ADP
hassl-3690	396	3	financial	financial	ADJ
hassl-3690	396	4	economics	economic	NOUN
hassl-3690	396	5	,	,	PUNCT
hassl-3690	396	6	84(2	84(2	NUM
hassl-3690	396	7	)	)	PUNCT
hassl-3690	396	8	,	,	PUNCT
hassl-3690	396	9	358	358	NUM
hassl-3690	396	10	-	-	SYM
hassl-3690	396	11	388	388	NUM
hassl-3690	396	12	.	.	PUNCT
hassl-3690	397	1	https://doi.org/10.1016/j.jfineco.2006.03.003	https://doi.org/10.1016/j.jfineco.2006.03.003	PROPN
hassl-3690	397	2	campbell	campbell	PROPN
hassl-3690	397	3	,	,	PUNCT
hassl-3690	397	4	j.	j.	PROPN
hassl-3690	397	5	y.	y.	PROPN
hassl-3690	397	6	,	,	PUNCT
hassl-3690	397	7	lettau	lettau	PROPN
hassl-3690	397	8	,	,	PUNCT
hassl-3690	397	9	m.	m.	NOUN
hassl-3690	397	10	,	,	PUNCT
hassl-3690	397	11	malkiel	malkiel	PROPN
hassl-3690	397	12	,	,	PUNCT
hassl-3690	397	13	b.	b.	PROPN
hassl-3690	397	14	g.	g.	PROPN
hassl-3690	397	15	,	,	PUNCT
hassl-3690	397	16	&	&	CCONJ
hassl-3690	397	17	xu	xu	PROPN
hassl-3690	397	18	,	,	PUNCT
hassl-3690	397	19	y.	y.	PROPN
hassl-3690	397	20	(	(	PUNCT
hassl-3690	397	21	2001	2001	NUM
hassl-3690	397	22	)	)	PUNCT
hassl-3690	397	23	.	.	PUNCT
hassl-3690	398	1	have	have	VERB
hassl-3690	398	2	individual	individual	ADJ
hassl-3690	398	3	stocks	stock	NOUN
hassl-3690	398	4	become	become	VERB
hassl-3690	398	5	more	more	ADV
hassl-3690	398	6	volatile	volatile	ADJ
hassl-3690	398	7	?	?	PUNCT
hassl-3690	399	1	an	an	DET
hassl-3690	399	2	empirical	empirical	ADJ
hassl-3690	399	3	exploration	exploration	NOUN
hassl-3690	399	4	of	of	ADP
hassl-3690	399	5	idiosyncratic	idiosyncratic	ADJ
hassl-3690	399	6	risk	risk	NOUN
hassl-3690	399	7	.	.	PUNCT
hassl-3690	400	1	the	the	DET
hassl-3690	400	2	journal	journal	NOUN
hassl-3690	400	3	of	of	ADP
hassl-3690	400	4	finance	finance	NOUN
hassl-3690	400	5	,	,	PUNCT
hassl-3690	400	6	56(1	56(1	NUM
hassl-3690	400	7	)	)	PUNCT
hassl-3690	400	8	,	,	PUNCT
hassl-3690	400	9	1	1	NUM
hassl-3690	400	10	-	-	SYM
hassl-3690	400	11	43	43	NUM
hassl-3690	400	12	.	.	PUNCT
hassl-3690	401	1	https://doi.org/10.1111/0022-1082.00318	https://doi.org/10.1111/0022-1082.00318	PROPN
hassl-3690	401	2	chakravarty	chakravarty	PROPN
hassl-3690	401	3	,	,	PUNCT
hassl-3690	401	4	s.	s.	PROPN
hassl-3690	401	5	,	,	PUNCT
hassl-3690	401	6	&	&	CCONJ
hassl-3690	401	7	hegde	hegde	PROPN
hassl-3690	401	8	,	,	PUNCT
hassl-3690	401	9	p.	p.	NOUN
hassl-3690	401	10	(	(	PUNCT
hassl-3690	401	11	2022	2022	NUM
hassl-3690	401	12	)	)	PUNCT
hassl-3690	401	13	.	.	PUNCT
hassl-3690	402	1	firm	firm	ADJ
hassl-3690	402	2	size	size	NOUN
hassl-3690	402	3	and	and	CCONJ
hassl-3690	402	4	the	the	DET
hassl-3690	402	5	effectiveness	effectiveness	NOUN
hassl-3690	402	6	of	of	ADP
hassl-3690	402	7	busy	busy	ADJ
hassl-3690	402	8	boards	board	NOUN
hassl-3690	402	9	in	in	ADP
hassl-3690	402	10	an	an	DET
hassl-3690	402	11	emerging	emerge	VERB
hassl-3690	402	12	econom	econom	PROPN
hassl-3690	402	13	y.	y.	PROPN
hassl-3690	402	14	global	global	PROPN
hassl-3690	402	15	finance	finance	PROPN
hassl-3690	402	16	journal	journal	NOUN
hassl-3690	402	17	,	,	PUNCT
hassl-3690	402	18	53	53	NUM
hassl-3690	402	19	,	,	PUNCT
hassl-3690	402	20	100718	100718	NUM
hassl-3690	402	21	.	.	PUNCT
hassl-3690	403	1	https://doi.org/10.1016/j.gfj.2022.100718	https://doi.org/10.1016/j.gfj.2022.100718	PROPN
hassl-3690	403	2	chou	chou	PROPN
hassl-3690	403	3	,	,	PUNCT
hassl-3690	403	4	t.	t.	PROPN
hassl-3690	403	5	k.	k.	PROPN
hassl-3690	403	6	,	,	PUNCT
hassl-3690	403	7	&	&	CCONJ
hassl-3690	403	8	feng	feng	PROPN
hassl-3690	403	9	,	,	PUNCT
hassl-3690	403	10	h.	h.	PROPN
hassl-3690	403	11	l.	l.	PROPN
hassl-3690	403	12	(	(	PUNCT
hassl-3690	403	13	2019	2019	NUM
hassl-3690	403	14	)	)	PUNCT
hassl-3690	403	15	.	.	PUNCT
hassl-3690	404	1	multiple	multiple	ADJ
hassl-3690	404	2	directorships	directorship	NOUN
hassl-3690	404	3	and	and	CCONJ
hassl-3690	404	4	the	the	DET
hassl-3690	404	5	value	value	NOUN
hassl-3690	404	6	of	of	ADP
hassl-3690	404	7	cash	cash	NOUN
hassl-3690	404	8	holdings	holding	NOUN
hassl-3690	404	9	.	.	PUNCT
hassl-3690	405	1	in	in	ADP
hassl-3690	405	2	review	review	NOUN
hassl-3690	405	3	of	of	ADP
hassl-3690	405	4	quantitative	quantitative	ADJ
hassl-3690	405	5	finance	finance	NOUN
hassl-3690	405	6	and	and	CCONJ
hassl-3690	405	7	accounting	accounting	NOUN
hassl-3690	405	8	(	(	PUNCT
hassl-3690	405	9	vol	vol	NOUN
hassl-3690	405	10	.	.	PROPN
hassl-3690	405	11	53	53	NUM
hassl-3690	405	12	):	):	PUNCT
hassl-3690	405	13	springer	springer	NOUN
hassl-3690	405	14	us	we	PRON
hassl-3690	405	15	.	.	PUNCT
hassl-3690	406	1	https://doi.org/10.1007/s11156-018-0762-1	https://doi.org/10.1007/s11156-018-0762-1	PROPN
hassl-3690	406	2	.	.	PUNCT
hassl-3690	407	1	claessens	claessen	NOUN
hassl-3690	407	2	,	,	PUNCT
hassl-3690	407	3	s.	s.	PROPN
hassl-3690	407	4	,	,	PUNCT
hassl-3690	407	5	djankov	djankov	PROPN
hassl-3690	407	6	,	,	PUNCT
hassl-3690	407	7	s.	s.	PROPN
hassl-3690	407	8	,	,	PUNCT
hassl-3690	407	9	&	&	CCONJ
hassl-3690	407	10	lang	lang	PROPN
hassl-3690	407	11	,	,	PUNCT
hassl-3690	407	12	l.	l.	PROPN
hassl-3690	407	13	h.	h.	PROPN
hassl-3690	407	14	(	(	PUNCT
hassl-3690	407	15	2000	2000	NUM
hassl-3690	407	16	)	)	PUNCT
hassl-3690	407	17	.	.	PUNCT
hassl-3690	408	1	the	the	DET
hassl-3690	408	2	separation	separation	NOUN
hassl-3690	408	3	of	of	ADP
hassl-3690	408	4	ownership	ownership	NOUN
hassl-3690	408	5	and	and	CCONJ
hassl-3690	408	6	control	control	NOUN
hassl-3690	408	7	in	in	ADP
hassl-3690	408	8	east	east	ADJ
hassl-3690	408	9	asian	asian	ADJ
hassl-3690	408	10	corporations	corporation	NOUN
hassl-3690	408	11	.	.	PUNCT
hassl-3690	409	1	journal	journal	PROPN
hassl-3690	409	2	of	of	ADP
hassl-3690	409	3	financial	financial	ADJ
hassl-3690	409	4	economics	economic	NOUN
hassl-3690	409	5	,	,	PUNCT
hassl-3690	409	6	58(1	58(1	PROPN
hassl-3690	409	7	-	-	SYM
hassl-3690	409	8	2	2	NUM
hassl-3690	409	9	)	)	PUNCT
hassl-3690	409	10	,	,	PUNCT
hassl-3690	409	11	81	81	NUM
hassl-3690	409	12	-	-	SYM
hassl-3690	409	13	112	112	NUM
hassl-3690	409	14	.	.	PUNCT
hassl-3690	410	1	https://doi.org/10.2139/ssrn.206448	https://doi.org/10.2139/ssrn.206448	NOUN
hassl-3690	410	2	core	core	PROPN
hassl-3690	410	3	,	,	PUNCT
hassl-3690	410	4	j.	j.	PROPN
hassl-3690	410	5	e.	e.	PROPN
hassl-3690	410	6	,	,	PUNCT
hassl-3690	410	7	holthausen	holthausen	PROPN
hassl-3690	410	8	,	,	PUNCT
hassl-3690	410	9	r.	r.	PROPN
hassl-3690	410	10	w.	w.	PROPN
hassl-3690	410	11	,	,	PUNCT
hassl-3690	410	12	&	&	CCONJ
hassl-3690	410	13	larcker	larcker	PROPN
hassl-3690	410	14	,	,	PUNCT
hassl-3690	410	15	d.	d.	PROPN
hassl-3690	410	16	f.	f.	PROPN
hassl-3690	410	17	(	(	PUNCT
hassl-3690	410	18	1999	1999	NUM
hassl-3690	410	19	)	)	PUNCT
hassl-3690	410	20	.	.	PUNCT
hassl-3690	411	1	corporate	corporate	ADJ
hassl-3690	411	2	governance	governance	NOUN
hassl-3690	411	3	,	,	PUNCT
hassl-3690	411	4	chief	chief	ADJ
hassl-3690	411	5	executive	executive	ADJ
hassl-3690	411	6	officer	officer	NOUN
hassl-3690	411	7	compensation	compensation	NOUN
hassl-3690	411	8	,	,	PUNCT
hassl-3690	411	9	and	and	CCONJ
hassl-3690	411	10	firm	firm	ADJ
hassl-3690	411	11	performance	performance	NOUN
hassl-3690	411	12	.	.	PUNCT
hassl-3690	412	1	journal	journal	NOUN
hassl-3690	412	2	of	of	ADP
hassl-3690	412	3	financial	financial	ADJ
hassl-3690	412	4	economics	economic	NOUN
hassl-3690	412	5	,	,	PUNCT
hassl-3690	412	6	51(3	51(3	NUM
hassl-3690	412	7	)	)	PUNCT
hassl-3690	412	8	,	,	PUNCT
hassl-3690	412	9	371	371	NUM
hassl-3690	412	10	-	-	SYM
hassl-3690	412	11	406	406	NUM
hassl-3690	412	12	.	.	PUNCT
hassl-3690	413	1	https://doi.org/10.1016/s0304-405x(98)00058-0	https://doi.org/10.1016/s0304-405x(98)00058-0	PROPN
hassl-3690	413	2	demsetz	demsetz	PROPN
hassl-3690	413	3	,	,	PUNCT
hassl-3690	413	4	h.	h.	PROPN
hassl-3690	413	5	,	,	PUNCT
hassl-3690	413	6	&	&	CCONJ
hassl-3690	413	7	lehn	lehn	PROPN
hassl-3690	413	8	,	,	PUNCT
hassl-3690	413	9	k.	k.	PROPN
hassl-3690	413	10	(	(	PUNCT
hassl-3690	413	11	1985	1985	NUM
hassl-3690	413	12	)	)	PUNCT
hassl-3690	413	13	.	.	PUNCT
hassl-3690	414	1	number	number	NOUN
hassl-3690	414	2	of	of	ADP
hassl-3690	414	3	cells	cell	NOUN
hassl-3690	414	4	at	at	ADP
hassl-3690	414	5	the	the	DET
hassl-3690	414	6	time	time	NOUN
hassl-3690	414	7	of	of	ADP
hassl-3690	414	8	x	x	NOUN
hassl-3690	414	9	activation	activation	NOUN
hassl-3690	414	10	.	.	PUNCT
hassl-3690	415	1	journal	journal	NOUN
hassl-3690	415	2	of	of	ADP
hassl-3690	415	3	political	political	ADJ
hassl-3690	415	4	economy	economy	NOUN
hassl-3690	415	5	,	,	PUNCT
hassl-3690	415	6	93(6	93(6	NOUN
hassl-3690	415	7	)	)	PUNCT
hassl-3690	415	8	,	,	PUNCT
hassl-3690	415	9	1155–1177	1155–1177	NUM
hassl-3690	415	10	.	.	PUNCT
hassl-3690	416	1	https://doi.org/10.1038/249009b0	https://doi.org/10.1038/249009b0	AUX
hassl-3690	416	2	duygun	duygun	VERB
hassl-3690	416	3	,	,	PUNCT
hassl-3690	416	4	m.	m.	NOUN
hassl-3690	416	5	,	,	PUNCT
hassl-3690	416	6	guney	guney	NOUN
hassl-3690	416	7	,	,	PUNCT
hassl-3690	416	8	y.	y.	PROPN
hassl-3690	416	9	,	,	PUNCT
hassl-3690	416	10	&	&	CCONJ
hassl-3690	416	11	moin	moin	PROPN
hassl-3690	416	12	,	,	PUNCT
hassl-3690	416	13	a.	a.	NOUN
hassl-3690	416	14	(	(	PUNCT
hassl-3690	416	15	2018	2018	NUM
hassl-3690	416	16	)	)	PUNCT
hassl-3690	416	17	.	.	PUNCT
hassl-3690	417	1	dividend	dividend	NOUN
hassl-3690	417	2	policy	policy	NOUN
hassl-3690	417	3	of	of	ADP
hassl-3690	417	4	indonesian	indonesian	ADJ
hassl-3690	417	5	listed	list	VERB
hassl-3690	417	6	firms	firm	NOUN
hassl-3690	417	7	:	:	PUNCT
hassl-3690	417	8	the	the	DET
hassl-3690	417	9	role	role	NOUN
hassl-3690	417	10	of	of	ADP
hassl-3690	417	11	families	family	NOUN
hassl-3690	417	12	and	and	CCONJ
hassl-3690	417	13	the	the	DET
hassl-3690	417	14	state	state	NOUN
hassl-3690	417	15	.	.	PUNCT
hassl-3690	418	1	economic	economic	ADJ
hassl-3690	418	2	modelling	modelling	NOUN
hassl-3690	418	3	,	,	PUNCT
hassl-3690	418	4	75	75	NUM
hassl-3690	418	5	,	,	PUNCT
hassl-3690	418	6	336	336	NUM
hassl-3690	418	7	-	-	SYM
hassl-3690	418	8	354	354	NUM
hassl-3690	418	9	.	.	PUNCT
hassl-3690	419	1	https://doi.org/10.1016/j.econmod.2018.07.007	https://doi.org/10.1016/j.econmod.2018.07.007	VERB
hassl-3690	419	2	elyasiani	elyasiani	PROPN
hassl-3690	419	3	,	,	PUNCT
hassl-3690	419	4	e.	e.	PROPN
hassl-3690	419	5	,	,	PUNCT
hassl-3690	419	6	&	&	CCONJ
hassl-3690	419	7	zhang	zhang	PROPN
hassl-3690	419	8	,	,	PUNCT
hassl-3690	419	9	l.	l.	PROPN
hassl-3690	419	10	(	(	PUNCT
hassl-3690	419	11	2015	2015	NUM
hassl-3690	419	12	)	)	PUNCT
hassl-3690	419	13	.	.	PUNCT
hassl-3690	420	1	bank	bank	NOUN
hassl-3690	420	2	holding	hold	VERB
hassl-3690	420	3	company	company	NOUN
hassl-3690	420	4	performance	performance	NOUN
hassl-3690	420	5	,	,	PUNCT
hassl-3690	420	6	risk	risk	NOUN
hassl-3690	420	7	,	,	PUNCT
hassl-3690	420	8	and	and	CCONJ
hassl-3690	420	9	“	"	PUNCT
hassl-3690	420	10	busy	busy	ADJ
hassl-3690	420	11	”	"	PUNCT
hassl-3690	420	12	board	board	NOUN
hassl-3690	420	13	of	of	ADP
hassl-3690	420	14	directors	director	NOUN
hassl-3690	420	15	.	.	PUNCT
hassl-3690	421	1	journal	journal	NOUN
hassl-3690	421	2	of	of	ADP
hassl-3690	421	3	banking	banking	NOUN
hassl-3690	421	4	&	&	CCONJ
hassl-3690	421	5	finance	finance	PROPN
hassl-3690	421	6	,	,	PUNCT
hassl-3690	421	7	60	60	NUM
hassl-3690	421	8	,	,	PUNCT
hassl-3690	421	9	239	239	NUM
hassl-3690	421	10	-	-	SYM
hassl-3690	421	11	251	251	NUM
hassl-3690	421	12	.	.	PUNCT
hassl-3690	422	1	https://doi.org/10.1016/j.jbankfin.2015.08.022	https://doi.org/10.1016/j.jbankfin.2015.08.022	PROPN
hassl-3690	422	2	faccio	faccio	PROPN
hassl-3690	422	3	,	,	PUNCT
hassl-3690	422	4	m.	m.	NOUN
hassl-3690	422	5	,	,	PUNCT
hassl-3690	422	6	morck	morck	PROPN
hassl-3690	422	7	,	,	PUNCT
hassl-3690	422	8	r.	r.	PROPN
hassl-3690	422	9	,	,	PUNCT
hassl-3690	422	10	&	&	CCONJ
hassl-3690	422	11	yavuz	yavuz	PROPN
hassl-3690	422	12	,	,	PUNCT
hassl-3690	422	13	m.	m.	PROPN
hassl-3690	422	14	d.	d.	PROPN
hassl-3690	422	15	(	(	PUNCT
hassl-3690	422	16	2021	2021	NUM
hassl-3690	422	17	)	)	PUNCT
hassl-3690	422	18	.	.	PUNCT
hassl-3690	423	1	business	business	NOUN
hassl-3690	423	2	groups	group	NOUN
hassl-3690	423	3	and	and	CCONJ
hassl-3690	423	4	the	the	DET
hassl-3690	423	5	incorporation	incorporation	NOUN
hassl-3690	423	6	of	of	ADP
hassl-3690	423	7	firm	firm	ADJ
hassl-3690	423	8	-specific	-specific	PROPN
hassl-3690	423	9	shocks	shock	NOUN
hassl-3690	423	10	into	into	ADP
hassl-3690	423	11	stock	stock	NOUN
hassl-3690	423	12	prices	price	NOUN
hassl-3690	423	13	.	.	PUNCT
hassl-3690	424	1	journal	journal	NOUN
hassl-3690	424	2	of	of	ADP
hassl-3690	424	3	financial	financial	ADJ
hassl-3690	424	4	economics	economic	NOUN
hassl-3690	424	5	,	,	PUNCT
hassl-3690	424	6	139(3	139(3	NUM
hassl-3690	424	7	)	)	PUNCT
hassl-3690	424	8	,	,	PUNCT
hassl-3690	424	9	852	852	NUM
hassl-3690	424	10	-	-	SYM
hassl-3690	424	11	871	871	NUM
hassl-3690	424	12	.	.	PUNCT
hassl-3690	425	1	https://doi.org/10.1016/j.jfineco.2020.09.005	https://doi.org/10.1016/j.jfineco.2020.09.005	VERB
hassl-3690	425	2	falato	falato	NOUN
hassl-3690	425	3	,	,	PUNCT
hassl-3690	425	4	a.	a.	PROPN
hassl-3690	425	5	,	,	PUNCT
hassl-3690	425	6	kadyrzhanova	kadyrzhanova	PROPN
hassl-3690	425	7	,	,	PUNCT
hassl-3690	425	8	d.	d.	PROPN
hassl-3690	425	9	,	,	PUNCT
hassl-3690	425	10	&	&	CCONJ
hassl-3690	425	11	lel	lel	PROPN
hassl-3690	425	12	,	,	PUNCT
hassl-3690	425	13	u.	u.	PROPN
hassl-3690	425	14	(	(	PUNCT
hassl-3690	425	15	2014	2014	NUM
hassl-3690	425	16	)	)	PUNCT
hassl-3690	425	17	.	.	PUNCT
hassl-3690	426	1	distracted	distract	VERB
hassl-3690	426	2	directors	director	NOUN
hassl-3690	426	3	:	:	PUNCT
hassl-3690	426	4	does	do	AUX
hassl-3690	426	5	board	board	NOUN
hassl-3690	426	6	busyness	busyness	NOUN
hassl-3690	426	7	hurt	hurt	VERB
hassl-3690	426	8	shareholder	shareholder	NOUN
hassl-3690	426	9	value	value	NOUN
hassl-3690	426	10	?	?	PUNCT
hassl-3690	427	1	journal	journal	NOUN
hassl-3690	427	2	of	of	ADP
hassl-3690	427	3	financial	financial	ADJ
hassl-3690	427	4	economics	economic	NOUN
hassl-3690	427	5	,	,	PUNCT
hassl-3690	427	6	113(3	113(3	NUM
hassl-3690	427	7	)	)	PUNCT
hassl-3690	427	8	,	,	PUNCT
hassl-3690	427	9	404	404	NUM
hassl-3690	427	10	-	-	SYM
hassl-3690	427	11	426	426	NUM
hassl-3690	427	12	.	.	PUNCT
hassl-3690	428	1	https://doi.org/10.1016/j.jfineco.2014.05.005	https://doi.org/10.1016/j.jfineco.2014.05.005	PROPN
hassl-3690	428	2	fama	fama	PROPN
hassl-3690	428	3	,	,	PUNCT
hassl-3690	428	4	e.	e.	PROPN
hassl-3690	428	5	f.	f.	PROPN
hassl-3690	428	6	,	,	PUNCT
hassl-3690	428	7	&	&	CCONJ
hassl-3690	428	8	jensen	jensen	PROPN
hassl-3690	428	9	,	,	PUNCT
hassl-3690	428	10	m.	m.	PROPN
hassl-3690	428	11	c.	c.	PROPN
hassl-3690	428	12	(	(	PUNCT
hassl-3690	428	13	1983	1983	NUM
hassl-3690	428	14	)	)	PUNCT
hassl-3690	428	15	.	.	PUNCT
hassl-3690	429	1	separation	separation	NOUN
hassl-3690	429	2	of	of	ADP
hassl-3690	429	3	ownership	ownership	NOUN
hassl-3690	429	4	and	and	CCONJ
hassl-3690	429	5	control	control	NOUN
hassl-3690	429	6	.	.	PUNCT
hassl-3690	430	1	the	the	DET
hassl-3690	430	2	journal	journal	NOUN
hassl-3690	430	3	of	of	ADP
hassl-3690	430	4	law	law	NOUN
hassl-3690	430	5	and	and	CCONJ
hassl-3690	430	6	economics	economic	NOUN
hassl-3690	430	7	,	,	PUNCT
hassl-3690	430	8	26(2	26(2	NUM
hassl-3690	430	9	)	)	PUNCT
hassl-3690	430	10	,	,	PUNCT
hassl-3690	430	11	301	301	NUM
hassl-3690	430	12	-	-	SYM
hassl-3690	430	13	325	325	NUM
hassl-3690	430	14	.	.	PUNCT
hassl-3690	431	1	fan	fan	PROPN
hassl-3690	431	2	,	,	PUNCT
hassl-3690	431	3	j.	j.	PROPN
hassl-3690	431	4	p.	p.	PROPN
hassl-3690	431	5	,	,	PUNCT
hassl-3690	431	6	&	&	CCONJ
hassl-3690	431	7	wong	wong	PROPN
hassl-3690	431	8	,	,	PUNCT
hassl-3690	431	9	t.	t.	PROPN
hassl-3690	431	10	(	(	PUNCT
hassl-3690	431	11	2002	2002	NUM
hassl-3690	431	12	)	)	PUNCT
hassl-3690	431	13	.	.	PUNCT
hassl-3690	432	1	corproate	corproate	ADJ
hassl-3690	432	2	ownership	ownership	NOUN
hassl-3690	432	3	structure	structure	NOUN
hassl-3690	432	4	and	and	CCONJ
hassl-3690	432	5	the	the	DET
hassl-3690	432	6	informativeness	informativeness	NOUN
hassl-3690	432	7	of	of	ADP
hassl-3690	432	8	accounting	accounting	NOUN
hassl-3690	432	9	earnings	earning	NOUN
hassl-3690	432	10	in	in	ADP
hassl-3690	432	11	east	east	PROPN
hassl-3690	432	12	asia	asia	PROPN
hassl-3690	432	13	.	.	PUNCT
hassl-3690	433	1	journal	journal	PROPN
hassl-3690	433	2	of	of	ADP
hassl-3690	433	3	accounting	accounting	NOUN
hassl-3690	433	4	and	and	CCONJ
hassl-3690	433	5	economics	economic	NOUN
hassl-3690	433	6	,	,	PUNCT
hassl-3690	433	7	33	33	NUM
hassl-3690	433	8	,	,	PUNCT
hassl-3690	433	9	401–425	401–425	NUM
hassl-3690	433	10	.	.	PUNCT
hassl-3690	433	11	https://doi.org/10.1080/00014788.2002.9728973	https://doi.org/10.1080/00014788.2002.9728973	NOUN
hassl-3690	433	12	fich	fich	NOUN
hassl-3690	433	13	,	,	PUNCT
hassl-3690	433	14	e.	e.	PROPN
hassl-3690	433	15	m.	m.	PROPN
hassl-3690	433	16	,	,	PUNCT
hassl-3690	433	17	&	&	CCONJ
hassl-3690	433	18	shivdasani	shivdasani	PROPN
hassl-3690	433	19	,	,	PUNCT
hassl-3690	433	20	a.	a.	NOUN
hassl-3690	433	21	(	(	PUNCT
hassl-3690	433	22	2006	2006	NUM
hassl-3690	433	23	)	)	PUNCT
hassl-3690	433	24	.	.	PUNCT
hassl-3690	433	25	are	be	AUX
hassl-3690	433	26	busy	busy	ADJ
hassl-3690	433	27	boards	board	NOUN
hassl-3690	433	28	effective	effective	ADJ
hassl-3690	433	29	monitors	monitor	NOUN
hassl-3690	433	30	?	?	PUNCT
hassl-3690	434	1	the	the	DET
hassl-3690	434	2	journal	journal	NOUN
hassl-3690	434	3	of	of	ADP
hassl-3690	434	4	finance	finance	NOUN
hassl-3690	434	5	,	,	PUNCT
hassl-3690	434	6	61(2	61(2	NUM
hassl-3690	434	7	)	)	PUNCT
hassl-3690	434	8	,	,	PUNCT
hassl-3690	434	9	689	689	NUM
hassl-3690	434	10	-	-	SYM
hassl-3690	434	11	724	724	NUM
hassl-3690	434	12	.	.	PUNCT
hassl-3690	434	13	https://doi.org/10.1007/978-3-642-31579-4_10	https://doi.org/10.1007/978-3-642-31579-4_10	NOUN
hassl-3690	434	14	field	field	NOUN
hassl-3690	434	15	,	,	PUNCT
hassl-3690	434	16	l.	l.	PROPN
hassl-3690	434	17	,	,	PUNCT
hassl-3690	434	18	lowry	lowry	PROPN
hassl-3690	434	19	,	,	PUNCT
hassl-3690	434	20	m.	m.	NOUN
hassl-3690	434	21	,	,	PUNCT
hassl-3690	434	22	&	&	CCONJ
hassl-3690	434	23	mkrtchyan	mkrtchyan	PROPN
hassl-3690	434	24	,	,	PUNCT
hassl-3690	434	25	a.	a.	NOUN
hassl-3690	434	26	(	(	PUNCT
hassl-3690	434	27	2013	2013	NUM
hassl-3690	434	28	)	)	PUNCT
hassl-3690	434	29	.	.	PUNCT
hassl-3690	434	30	are	be	AUX
hassl-3690	434	31	busy	busy	ADJ
hassl-3690	434	32	boards	board	NOUN
hassl-3690	434	33	detrimental	detrimental	VERB
hassl-3690	434	34	?	?	PUNCT
hassl-3690	435	1	journal	journal	NOUN
hassl-3690	435	2	of	of	ADP
hassl-3690	435	3	financial	financial	ADJ
hassl-3690	435	4	economics	economic	NOUN
hassl-3690	435	5	,	,	PUNCT
hassl-3690	435	6	109(1	109(1	NUM
hassl-3690	435	7	)	)	PUNCT
hassl-3690	435	8	,	,	PUNCT
hassl-3690	435	9	63	63	NUM
hassl-3690	435	10	-	-	SYM
hassl-3690	435	11	82	82	NUM
hassl-3690	435	12	.	.	PUNCT
hassl-3690	436	1	https://doi.org/10.1016/j.jfineco.2013.02.004	https://doi.org/10.1016/j.jfineco.2013.02.004	PROPN
hassl-3690	436	2	fink	fink	PROPN
hassl-3690	436	3	,	,	PUNCT
hassl-3690	436	4	j.	j.	PROPN
hassl-3690	436	5	,	,	PUNCT
hassl-3690	436	6	grullon	grullon	PROPN
hassl-3690	436	7	,	,	PUNCT
hassl-3690	436	8	g.	g.	PROPN
hassl-3690	436	9	,	,	PUNCT
hassl-3690	436	10	fink	fink	PROPN
hassl-3690	436	11	,	,	PUNCT
hassl-3690	436	12	k.	k.	PROPN
hassl-3690	436	13	,	,	PUNCT
hassl-3690	436	14	&	&	CCONJ
hassl-3690	436	15	weston	weston	PROPN
hassl-3690	436	16	,	,	PUNCT
hassl-3690	436	17	j.	j.	PROPN
hassl-3690	436	18	(	(	PUNCT
hassl-3690	436	19	2005	2005	NUM
hassl-3690	436	20	)	)	PUNCT
hassl-3690	436	21	.	.	PUNCT
hassl-3690	437	1	ipo	ipo	NOUN
hassl-3690	437	2	vintage	vintage	NOUN
hassl-3690	437	3	and	and	CCONJ
hassl-3690	437	4	the	the	DET
hassl-3690	437	5	rise	rise	NOUN
hassl-3690	437	6	of	of	ADP
hassl-3690	437	7	idiosyncratic	idiosyncratic	ADJ
hassl-3690	437	8	risk	risk	NOUN
hassl-3690	437	9	.	.	PUNCT
hassl-3690	438	1	ssrn	ssrn	PROPN
hassl-3690	438	2	electronic	electronic	ADJ
hassl-3690	438	3	journal	journal	PROPN
hassl-3690	438	4	,	,	PUNCT
hassl-3690	438	5	8107(540	8107(540	NUM
hassl-3690	438	6	)	)	PUNCT
hassl-3690	438	7	.	.	PUNCT
hassl-3690	439	1	https://doi.org/10.2139/ssrn.661321	https://doi.org/10.2139/ssrn.661321	PROPN
hassl-3690	439	2	french	french	PROPN
hassl-3690	439	3	,	,	PUNCT
hassl-3690	439	4	k.	k.	PROPN
hassl-3690	439	5	r.	r.	PROPN
hassl-3690	439	6	,	,	PUNCT
hassl-3690	439	7	&	&	CCONJ
hassl-3690	439	8	roll	roll	PROPN
hassl-3690	439	9	,	,	PUNCT
hassl-3690	439	10	r.	r.	PROPN
hassl-3690	439	11	(	(	PUNCT
hassl-3690	439	12	1986	1986	NUM
hassl-3690	439	13	)	)	PUNCT
hassl-3690	439	14	.	.	PUNCT
hassl-3690	440	1	stock	stock	NOUN
hassl-3690	440	2	return	return	NOUN
hassl-3690	440	3	variances	variance	NOUN
hassl-3690	440	4	:	:	PUNCT
hassl-3690	440	5	the	the	DET
hassl-3690	440	6	arrival	arrival	NOUN
hassl-3690	440	7	of	of	ADP
hassl-3690	440	8	information	information	NOUN
hassl-3690	440	9	and	and	CCONJ
hassl-3690	440	10	the	the	DET
hassl-3690	440	11	reaction	reaction	NOUN
hassl-3690	440	12	of	of	ADP
hassl-3690	440	13	traders	trader	NOUN
hassl-3690	440	14	.	.	PUNCT
hassl-3690	441	1	journal	journal	NOUN
hassl-3690	441	2	of	of	ADP
hassl-3690	441	3	financial	financial	ADJ
hassl-3690	441	4	economics	economic	NOUN
hassl-3690	441	5	,	,	PUNCT
hassl-3690	441	6	17(1	17(1	NUM
hassl-3690	441	7	)	)	PUNCT
hassl-3690	441	8	,	,	PUNCT
hassl-3690	441	9	5	5	NUM
hassl-3690	441	10	-	-	SYM
hassl-3690	441	11	26	26	NUM
hassl-3690	441	12	.	.	PUNCT
hassl-3690	442	1	https://doi.org/10.1016/0304-405x(86)90004-8	https://doi.org/10.1016/0304-405x(86)90004-8	PROPN
hassl-3690	442	2	fu	fu	PROPN
hassl-3690	442	3	,	,	PUNCT
hassl-3690	442	4	f.	f.	PROPN
hassl-3690	442	5	(	(	PUNCT
hassl-3690	442	6	2009	2009	NUM
hassl-3690	442	7	)	)	PUNCT
hassl-3690	442	8	.	.	PUNCT
hassl-3690	443	1	idiosyncratic	idiosyncratic	ADJ
hassl-3690	443	2	risk	risk	NOUN
hassl-3690	443	3	and	and	CCONJ
hassl-3690	443	4	the	the	DET
hassl-3690	443	5	cross	cross	NOUN
hassl-3690	443	6	-	-	NOUN
hassl-3690	443	7	section	section	NOUN
hassl-3690	443	8	of	of	ADP
hassl-3690	443	9	expected	expect	VERB
hassl-3690	443	10	stock	stock	NOUN
hassl-3690	443	11	returns	return	NOUN
hassl-3690	443	12	.	.	PUNCT
hassl-3690	444	1	journal	journal	NOUN
hassl-3690	444	2	of	of	ADP
hassl-3690	444	3	financial	financial	ADJ
hassl-3690	444	4	economics	economic	NOUN
hassl-3690	444	5	,	,	PUNCT
hassl-3690	444	6	91(1	91(1	NUM
hassl-3690	444	7	)	)	PUNCT
hassl-3690	444	8	,	,	PUNCT
hassl-3690	444	9	24	24	NUM
hassl-3690	444	10	-	-	SYM
hassl-3690	444	11	37	37	NUM
hassl-3690	444	12	.	.	PUNCT
hassl-3690	445	1	https://doi.org/10.1016/j.jfineco.2008.02.003	https://doi.org/10.1016/j.jfineco.2008.02.003	PROPN
hassl-3690	445	2	goyal	goyal	PROPN
hassl-3690	445	3	,	,	PUNCT
hassl-3690	445	4	a.	a.	PROPN
hassl-3690	445	5	,	,	PUNCT
hassl-3690	445	6	&	&	CCONJ
hassl-3690	445	7	santa	santa	PROPN
hassl-3690	445	8	-	-	PUNCT
hassl-3690	445	9	clara	clara	PROPN
hassl-3690	445	10	,	,	PUNCT
hassl-3690	445	11	p.	p.	NOUN
hassl-3690	445	12	(	(	PUNCT
hassl-3690	445	13	2003	2003	NUM
hassl-3690	445	14	)	)	PUNCT
hassl-3690	445	15	.	.	PUNCT
hassl-3690	446	1	idiosyncratic	idiosyncratic	ADJ
hassl-3690	446	2	risk	risk	NOUN
hassl-3690	446	3	matters	matter	NOUN
hassl-3690	446	4	.	.	PUNCT
hassl-3690	447	1	journal	journal	NOUN
hassl-3690	447	2	of	of	ADP
hassl-3690	447	3	finance	finance	NOUN
hassl-3690	447	4	,	,	PUNCT
hassl-3690	447	5	58(3	58(3	NUM
hassl-3690	447	6	)	)	PUNCT
hassl-3690	447	7	,	,	PUNCT
hassl-3690	447	8	975–1007	975–1007	NUM
hassl-3690	447	9	.	.	PUNCT
hassl-3690	448	1	grossman	grossman	PROPN
hassl-3690	448	2	,	,	PUNCT
hassl-3690	448	3	s.	s.	PROPN
hassl-3690	448	4	j.	j.	PROPN
hassl-3690	448	5	,	,	PUNCT
hassl-3690	448	6	&	&	CCONJ
hassl-3690	448	7	stiglitz	stiglitz	PROPN
hassl-3690	448	8	,	,	PUNCT
hassl-3690	448	9	j.	j.	PROPN
hassl-3690	448	10	e.	e.	PROPN
hassl-3690	448	11	(	(	PUNCT
hassl-3690	448	12	1980	1980	NUM
hassl-3690	448	13	)	)	PUNCT
hassl-3690	448	14	.	.	PUNCT
hassl-3690	449	1	on	on	ADP
hassl-3690	449	2	the	the	DET
hassl-3690	449	3	impossibility	impossibility	NOUN
hassl-3690	449	4	of	of	ADP
hassl-3690	449	5	informationally	informationally	ADV
hassl-3690	449	6	efficient	efficient	ADJ
hassl-3690	449	7	markets	market	NOUN
hassl-3690	449	8	.	.	PUNCT
hassl-3690	450	1	the	the	DET
hassl-3690	450	2	american	american	PROPN
hassl-3690	450	3	economic	economic	PROPN
hassl-3690	450	4	review	review	PROPN
hassl-3690	450	5	,	,	PUNCT
hassl-3690	450	6	70(3	70(3	NOUN
hassl-3690	450	7	)	)	PUNCT
hassl-3690	450	8	,	,	PUNCT
hassl-3690	450	9	393	393	NUM
hassl-3690	450	10	-	-	SYM
hassl-3690	450	11	408	408	NUM
hassl-3690	450	12	.	.	PUNCT
hassl-3690	451	1	hatane	hatane	PROPN
hassl-3690	451	2	,	,	PUNCT
hassl-3690	451	3	s.	s.	PROPN
hassl-3690	451	4	e.	e.	PROPN
hassl-3690	451	5	,	,	PUNCT
hassl-3690	451	6	supangat	supangat	PROPN
hassl-3690	451	7	,	,	PUNCT
hassl-3690	451	8	s.	s.	PROPN
hassl-3690	451	9	,	,	PUNCT
hassl-3690	451	10	tarigan	tarigan	PROPN
hassl-3690	451	11	,	,	PUNCT
hassl-3690	451	12	j.	j.	PROPN
hassl-3690	451	13	,	,	PUNCT
hassl-3690	451	14	&	&	CCONJ
hassl-3690	451	15	jie	jie	PROPN
hassl-3690	451	16	,	,	PUNCT
hassl-3690	451	17	f.	f.	PROPN
hassl-3690	451	18	(	(	PUNCT
hassl-3690	451	19	2019	2019	NUM
hassl-3690	451	20	)	)	PUNCT
hassl-3690	451	21	.	.	PUNCT
hassl-3690	452	1	does	do	VERB
hassl-3690	452	2	internal	internal	ADJ
hassl-3690	452	3	corporate	corporate	ADJ
hassl-3690	452	4	governance	governance	NOUN
hassl-3690	452	5	mechan	mechan	NOUN
hassl-3690	452	6	ism	ism	NOUN
hassl-3690	452	7	control	control	NOUN
hassl-3690	452	8	firm	firm	ADJ
hassl-3690	452	9	risk	risk	NOUN
hassl-3690	452	10	?	?	PUNCT
hassl-3690	453	1	evidence	evidence	NOUN
hassl-3690	453	2	from	from	ADP
hassl-3690	453	3	indonesia	indonesia	PROPN
hassl-3690	453	4	’s	’s	PART
hassl-3690	453	5	three	three	NUM
hassl-3690	453	6	high	high	ADJ
hassl-3690	453	7	-	-	PUNCT
hassl-3690	453	8	risk	risk	NOUN
hassl-3690	453	9	sectors	sector	NOUN
hassl-3690	453	10	.	.	PUNCT
hassl-3690	454	1	corporate	corporate	ADJ
hassl-3690	454	2	governance	governance	NOUN
hassl-3690	454	3	:	:	PUNCT
hassl-3690	454	4	the	the	DET
hassl-3690	454	5	international	international	ADJ
hassl-3690	454	6	journal	journal	NOUN
hassl-3690	454	7	of	of	ADP
hassl-3690	454	8	business	business	NOUN
hassl-3690	454	9	in	in	ADP
hassl-3690	454	10	society	society	NOUN
hassl-3690	454	11	,	,	PUNCT
hassl-3690	454	12	19(6	19(6	NUM
hassl-3690	454	13	)	)	PUNCT
hassl-3690	454	14	,	,	PUNCT
hassl-3690	454	15	1362	1362	NUM
hassl-3690	454	16	-	-	SYM
hassl-3690	454	17	1376	1376	NUM
hassl-3690	454	18	.	.	PUNCT
hassl-3690	455	1	https://doi.org/10.1108/cg-02-2019-0071	https://doi.org/10.1108/cg-02-2019-0071	NOUN
hassl-3690	455	2	haunschild	haunschild	ADJ
hassl-3690	455	3	,	,	PUNCT
hassl-3690	455	4	p.	p.	PROPN
hassl-3690	455	5	r.	r.	PROPN
hassl-3690	455	6	,	,	PUNCT
hassl-3690	455	7	&	&	CCONJ
hassl-3690	455	8	beckman	beckman	PROPN
hassl-3690	455	9	,	,	PUNCT
hassl-3690	455	10	c.	c.	PROPN
hassl-3690	455	11	m.	m.	NOUN
hassl-3690	455	12	(	(	PUNCT
hassl-3690	455	13	1998	1998	NUM
hassl-3690	455	14	)	)	PUNCT
hassl-3690	455	15	.	.	PUNCT
hassl-3690	456	1	when	when	SCONJ
hassl-3690	456	2	do	do	AUX
hassl-3690	456	3	interlocks	interlock	NOUN
hassl-3690	456	4	matter	matter	VERB
hassl-3690	456	5	?	?	PUNCT
hassl-3690	456	6	:	:	PUNCT
hassl-3690	457	1	alternate	alternate	ADJ
hassl-3690	457	2	sources	source	NOUN
hassl-3690	457	3	of	of	ADP
hassl-3690	457	4	information	information	NOUN
hassl-3690	457	5	and	and	CCONJ
hassl-3690	457	6	interlock	interlock	NOUN
hassl-3690	457	7	influe	influe	NOUN
hassl-3690	457	8	nce	nce	NOUN
hassl-3690	457	9	.	.	PUNCT
hassl-3690	458	1	administrative	administrative	ADJ
hassl-3690	458	2	science	science	PROPN
hassl-3690	458	3	quarterly	quarterly	ADV
hassl-3690	458	4	,	,	PUNCT
hassl-3690	458	5	43(4	43(4	NOUN
hassl-3690	458	6	)	)	PUNCT
hassl-3690	458	7	,	,	PUNCT
hassl-3690	458	8	815	815	NUM
hassl-3690	458	9	-	-	SYM
hassl-3690	458	10	844	844	NUM
hassl-3690	458	11	.	.	PUNCT
hassl-3690	458	12	https://doi.org/https://doi.org/10.2307/2393617	https://doi.org/https://doi.org/10.2307/2393617	NOUN
hassl-3690	458	13	https://doi.org/10.1093/rfs/hhp087	https://doi.org/10.1093/rfs/hhp087	PROPN
hassl-3690	458	14	https://doi.org/10.1016/j.jfineco.2006.03.003	https://doi.org/10.1016/j.jfineco.2006.03.003	PROPN
hassl-3690	458	15	https://doi.org/10.1111/0022-1082.00318	https://doi.org/10.1111/0022-1082.00318	NOUN
hassl-3690	458	16	https://doi.org/10.1016/j.gfj.2022.100718	https://doi.org/10.1016/j.gfj.2022.100718	PROPN
hassl-3690	458	17	https://doi.org/10.1007/s11156-018-0762-1	https://doi.org/10.1007/s11156-018-0762-1	PROPN
hassl-3690	458	18	https://doi.org/10.2139/ssrn.206448	https://doi.org/10.2139/ssrn.206448	PUNCT
hassl-3690	458	19	https://doi.org/10.1016/s0304-405x(98)00058-0	https://doi.org/10.1016/s0304-405x(98)00058-0	PROPN
hassl-3690	458	20	https://doi.org/10.1038/249009b0	https://doi.org/10.1038/249009b0	PROPN
hassl-3690	458	21	https://doi.org/10.1016/j.econmod.2018.07.007	https://doi.org/10.1016/j.econmod.2018.07.007	PROPN
hassl-3690	458	22	https://doi.org/10.1016/j.jbankfin.2015.08.022	https://doi.org/10.1016/j.jbankfin.2015.08.022	NOUN
hassl-3690	458	23	https://doi.org/10.1016/j.jfineco.2020.09.005	https://doi.org/10.1016/j.jfineco.2020.09.005	VERB
hassl-3690	458	24	https://doi.org/10.1016/j.jfineco.2014.05.005	https://doi.org/10.1016/j.jfineco.2014.05.005	ADJ
hassl-3690	458	25	https://doi.org/10.1080/00014788.2002.9728973	https://doi.org/10.1080/00014788.2002.9728973	X
hassl-3690	458	26	https://doi.org/10.1007/978-3-642-31579-4_10	https://doi.org/10.1007/978-3-642-31579-4_10	PUNCT
hassl-3690	458	27	https://doi.org/10.1016/j.jfineco.2013.02.004	https://doi.org/10.1016/j.jfineco.2013.02.004	NOUN
hassl-3690	458	28	https://doi.org/10.2139/ssrn.661321	https://doi.org/10.2139/ssrn.661321	ADJ
hassl-3690	458	29	https://doi.org/10.1016/0304-405x(86)90004-8	https://doi.org/10.1016/0304-405x(86)90004-8	PROPN
hassl-3690	458	30	https://doi.org/10.1016/j.jfineco.2008.02.003	https://doi.org/10.1016/j.jfineco.2008.02.003	PROPN
hassl-3690	458	31	https://doi.org/10.1108/cg-02-2019-0071	https://doi.org/10.1108/cg-02-2019-0071	PROPN
hassl-3690	458	32	https://doi.org/https:/doi.org/10.2307/2393617	https://doi.org/https:/doi.org/10.2307/2393617	NOUN
hassl-3690	458	33	humanities	humanity	NOUN
hassl-3690	458	34	and	and	CCONJ
hassl-3690	458	35	social	social	ADJ
hassl-3690	458	36	sciences	science	NOUN
hassl-3690	458	37	letters	letter	NOUN
hassl-3690	458	38	,	,	PUNCT
hassl-3690	458	39	2024	2024	NUM
hassl-3690	458	40	,	,	PUNCT
hassl-3690	458	41	12(2	12(2	NUM
hassl-3690	458	42	):	):	PUNCT
hassl-3690	458	43	218	218	NUM
hassl-3690	458	44	-	-	SYM
hassl-3690	458	45	232	232	NUM
hassl-3690	458	46	231	231	NUM
hassl-3690	458	47	©	©	PROPN
hassl-3690	458	48	2024	2024	NUM
hassl-3690	458	49	conscientia	conscientia	PROPN
hassl-3690	458	50	beam	beam	PROPN
hassl-3690	458	51	.	.	PUNCT
hassl-3690	459	1	all	all	DET
hassl-3690	459	2	rights	right	NOUN
hassl-3690	459	3	reserved	reserve	VERB
hassl-3690	459	4	.	.	PUNCT
hassl-3690	460	1	hope	hope	NOUN
hassl-3690	460	2	,	,	PUNCT
hassl-3690	460	3	o.-k	o.-k	PROPN
hassl-3690	460	4	.	.	PUNCT
hassl-3690	461	1	(	(	PUNCT
hassl-3690	461	2	2013	2013	NUM
hassl-3690	461	3	)	)	PUNCT
hassl-3690	461	4	.	.	PUNCT
hassl-3690	462	1	large	large	ADJ
hassl-3690	462	2	shareholders	shareholder	NOUN
hassl-3690	462	3	and	and	CCONJ
hassl-3690	462	4	accounting	accounting	NOUN
hassl-3690	462	5	research	research	NOUN
hassl-3690	462	6	.	.	PUNCT
hassl-3690	463	1	china	china	PROPN
hassl-3690	463	2	journal	journal	PROPN
hassl-3690	463	3	of	of	ADP
hassl-3690	463	4	accounting	accounting	PROPN
hassl-3690	463	5	research	research	NOUN
hassl-3690	463	6	,	,	PUNCT
hassl-3690	463	7	6(1	6(1	NUM
hassl-3690	463	8	)	)	PUNCT
hassl-3690	463	9	,	,	PUNCT
hassl-3690	463	10	3	3	NUM
hassl-3690	463	11	-	-	SYM
hassl-3690	463	12	20	20	NUM
hassl-3690	463	13	.	.	PUNCT
hassl-3690	464	1	https://doi.org/10.1016/j.cjar.2012.12.002	https://doi.org/10.1016/j.cjar.2012.12.002	PROPN
hassl-3690	464	2	jensen	jensen	PROPN
hassl-3690	464	3	,	,	PUNCT
hassl-3690	464	4	m.	m.	PROPN
hassl-3690	464	5	c.	c.	PROPN
hassl-3690	464	6	,	,	PUNCT
hassl-3690	464	7	&	&	CCONJ
hassl-3690	464	8	meckling	meckling	PROPN
hassl-3690	464	9	,	,	PUNCT
hassl-3690	464	10	w.	w.	PROPN
hassl-3690	464	11	h.	h.	PROPN
hassl-3690	464	12	(	(	PUNCT
hassl-3690	464	13	1976	1976	NUM
hassl-3690	464	14	)	)	PUNCT
hassl-3690	464	15	.	.	PUNCT
hassl-3690	465	1	theory	theory	NOUN
hassl-3690	465	2	of	of	ADP
hassl-3690	465	3	the	the	DET
hassl-3690	465	4	firm	firm	NOUN
hassl-3690	465	5	:	:	PUNCT
hassl-3690	465	6	managerial	managerial	ADJ
hassl-3690	465	7	behavior	behavior	NOUN
hassl-3690	465	8	,	,	PUNCT
hassl-3690	465	9	agency	agency	NOUN
hassl-3690	465	10	costs	cost	NOUN
hassl-3690	465	11	,	,	PUNCT
hassl-3690	465	12	and	and	CCONJ
hassl-3690	465	13	ownership	ownership	NOUN
hassl-3690	465	14	structure	structure	NOUN
hassl-3690	465	15	.	.	PUNCT
hassl-3690	466	1	economic	economic	ADJ
hassl-3690	466	2	analysis	analysis	NOUN
hassl-3690	466	3	of	of	ADP
hassl-3690	466	4	the	the	DET
hassl-3690	466	5	law	law	NOUN
hassl-3690	466	6	:	:	PUNCT
hassl-3690	466	7	selected	select	VERB
hassl-3690	466	8	readings	reading	NOUN
hassl-3690	466	9	,	,	PUNCT
hassl-3690	466	10	4	4	NUM
hassl-3690	466	11	,	,	PUNCT
hassl-3690	466	12	162–176	162–176	NUM
hassl-3690	466	13	.	.	PUNCT
hassl-3690	467	1	https://doi.org/10.1002/9780470752135.ch17	https://doi.org/10.1002/9780470752135.ch17	PROPN
hassl-3690	467	2	jiraporn	jiraporn	NOUN
hassl-3690	467	3	,	,	PUNCT
hassl-3690	467	4	p.	p.	NOUN
hassl-3690	467	5	,	,	PUNCT
hassl-3690	467	6	singh	singh	PROPN
hassl-3690	467	7	,	,	PUNCT
hassl-3690	467	8	m.	m.	NOUN
hassl-3690	467	9	,	,	PUNCT
hassl-3690	467	10	&	&	CCONJ
hassl-3690	467	11	lee	lee	PROPN
hassl-3690	467	12	,	,	PUNCT
hassl-3690	467	13	c.	c.	PROPN
hassl-3690	467	14	i.	i.	PROPN
hassl-3690	467	15	(	(	PUNCT
hassl-3690	467	16	2009	2009	NUM
hassl-3690	467	17	)	)	PUNCT
hassl-3690	467	18	.	.	PUNCT
hassl-3690	468	1	ineffective	ineffective	ADJ
hassl-3690	468	2	corporate	corporate	ADJ
hassl-3690	468	3	governance	governance	NOUN
hassl-3690	468	4	:	:	PUNCT
hassl-3690	468	5	director	director	NOUN
hassl-3690	468	6	busyness	busyness	NOUN
hassl-3690	468	7	and	and	CCONJ
hassl-3690	468	8	board	board	NOUN
hassl-3690	468	9	committee	committee	NOUN
hassl-3690	468	10	memberships	membership	NOUN
hassl-3690	468	11	.	.	PUNCT
hassl-3690	469	1	journal	journal	NOUN
hassl-3690	469	2	of	of	ADP
hassl-3690	469	3	banking	banking	NOUN
hassl-3690	469	4	&	&	CCONJ
hassl-3690	469	5	finance	finance	NOUN
hassl-3690	469	6	,	,	PUNCT
hassl-3690	469	7	33(5	33(5	NUM
hassl-3690	469	8	)	)	PUNCT
hassl-3690	469	9	,	,	PUNCT
hassl-3690	469	10	819	819	NUM
hassl-3690	469	11	-	-	SYM
hassl-3690	469	12	828	828	NUM
hassl-3690	469	13	.	.	PUNCT
hassl-3690	470	1	https://doi.org/10.1016/j.jbankfin.2008.09.020	https://doi.org/10.1016/j.jbankfin.2008.09.020	VERB
hassl-3690	470	2	kim	kim	PROPN
hassl-3690	470	3	,	,	PUNCT
hassl-3690	470	4	j.-b	j.-b	PROPN
hassl-3690	470	5	.	.	PROPN
hassl-3690	470	6	,	,	PUNCT
hassl-3690	470	7	song	song	PROPN
hassl-3690	470	8	,	,	PUNCT
hassl-3690	470	9	b.	b.	PROPN
hassl-3690	470	10	y.	y.	PROPN
hassl-3690	470	11	,	,	PUNCT
hassl-3690	470	12	&	&	CCONJ
hassl-3690	470	13	zhang	zhang	PROPN
hassl-3690	470	14	,	,	PUNCT
hassl-3690	470	15	y.	y.	PROPN
hassl-3690	470	16	(	(	PUNCT
hassl-3690	470	17	2015	2015	NUM
hassl-3690	470	18	)	)	PUNCT
hassl-3690	470	19	.	.	PUNCT
hassl-3690	471	1	earnings	earning	NOUN
hassl-3690	471	2	performance	performance	NOUN
hassl-3690	471	3	of	of	ADP
hassl-3690	471	4	major	major	ADJ
hassl-3690	471	5	customers	customer	NOUN
hassl-3690	471	6	and	and	CCONJ
hassl-3690	471	7	bank	bank	NOUN
hassl-3690	471	8	loan	loan	NOUN
hassl-3690	471	9	contracting	contracting	NOUN
hassl-3690	471	10	with	with	ADP
hassl-3690	471	11	suppliers	supplier	NOUN
hassl-3690	471	12	.	.	PUNCT
hassl-3690	472	1	journal	journal	PROPN
hassl-3690	472	2	of	of	ADP
hassl-3690	472	3	banking	banking	NOUN
hassl-3690	472	4	&	&	CCONJ
hassl-3690	472	5	finance	finance	PROPN
hassl-3690	472	6	,	,	PUNCT
hassl-3690	472	7	59	59	NUM
hassl-3690	472	8	,	,	PUNCT
hassl-3690	472	9	384	384	NUM
hassl-3690	472	10	-	-	SYM
hassl-3690	472	11	398	398	NUM
hassl-3690	472	12	.	.	PUNCT
hassl-3690	473	1	https://doi.org/10.1016/j.jbankfin.2015.06.020	https://doi.org/10.1016/j.jbankfin.2015.06.020	NOUN
hassl-3690	473	2	la	la	PRON
hassl-3690	473	3	porta	porta	PROPN
hassl-3690	473	4	,	,	PUNCT
hassl-3690	473	5	r.	r.	PROPN
hassl-3690	473	6	,	,	PUNCT
hassl-3690	473	7	lopez‐de‐silanes	lopez‐de‐silanes	PROPN
hassl-3690	473	8	,	,	PUNCT
hassl-3690	473	9	f.	f.	PROPN
hassl-3690	473	10	,	,	PUNCT
hassl-3690	473	11	&	&	CCONJ
hassl-3690	473	12	shleifer	shleifer	PROPN
hassl-3690	473	13	,	,	PUNCT
hassl-3690	473	14	a.	a.	NOUN
hassl-3690	473	15	(	(	PUNCT
hassl-3690	473	16	1999	1999	NUM
hassl-3690	473	17	)	)	PUNCT
hassl-3690	473	18	.	.	PUNCT
hassl-3690	474	1	corporate	corporate	ADJ
hassl-3690	474	2	ownership	ownership	NOUN
hassl-3690	474	3	around	around	ADP
hassl-3690	474	4	the	the	DET
hassl-3690	474	5	world	world	NOUN
hassl-3690	474	6	.	.	PUNCT
hassl-3690	475	1	the	the	DET
hassl-3690	475	2	journal	journal	PROPN
hassl-3690	475	3	of	of	ADP
hassl-3690	475	4	finance	finance	NOUN
hassl-3690	475	5	,	,	PUNCT
hassl-3690	475	6	54(2	54(2	NUM
hassl-3690	475	7	)	)	PUNCT
hassl-3690	475	8	,	,	PUNCT
hassl-3690	475	9	471	471	NUM
hassl-3690	475	10	-	-	SYM
hassl-3690	475	11	517	517	NUM
hassl-3690	475	12	.	.	PUNCT
hassl-3690	475	13	https://doi.org/10.1111/0022-1082.00115	https://doi.org/10.1111/0022-1082.00115	PROPN
hassl-3690	475	14	leech	leech	NOUN
hassl-3690	475	15	,	,	PUNCT
hassl-3690	475	16	d.	d.	PROPN
hassl-3690	475	17	,	,	PUNCT
hassl-3690	475	18	&	&	CCONJ
hassl-3690	475	19	leahy	leahy	PROPN
hassl-3690	475	20	,	,	PUNCT
hassl-3690	475	21	j.	j.	PROPN
hassl-3690	475	22	(	(	PUNCT
hassl-3690	475	23	1991	1991	NUM
hassl-3690	475	24	)	)	PUNCT
hassl-3690	475	25	.	.	PUNCT
hassl-3690	476	1	ownership	ownership	NOUN
hassl-3690	476	2	structure	structure	NOUN
hassl-3690	476	3	,	,	PUNCT
hassl-3690	476	4	control	control	NOUN
hassl-3690	476	5	type	type	NOUN
hassl-3690	476	6	classifications	classification	NOUN
hassl-3690	476	7	and	and	CCONJ
hassl-3690	476	8	the	the	DET
hassl-3690	476	9	performance	performance	NOUN
hassl-3690	476	10	of	of	ADP
hassl-3690	476	11	large	large	ADJ
hassl-3690	476	12	british	british	ADJ
hassl-3690	476	13	companies	company	NOUN
hassl-3690	476	14	,	,	PUNCT
hassl-3690	476	15	the	the	DET
hassl-3690	476	16	economic	economic	ADJ
hassl-3690	476	17	journal	journal	NOUN
hassl-3690	476	18	,	,	PUNCT
hassl-3690	476	19	101	101	NUM
hassl-3690	476	20	(	(	PUNCT
hassl-3690	476	21	409	409	NUM
hassl-3690	476	22	)	)	PUNCT
hassl-3690	476	23	,	,	PUNCT
hassl-3690	476	24	1418	1418	NUM
hassl-3690	476	25	-	-	SYM
hassl-3690	476	26	1437	1437	NUM
hassl-3690	476	27	.	.	PUNCT
hassl-3690	477	1	https://doi.org/10.2307/2234893	https://doi.org/10.2307/2234893	PROPN
hassl-3690	477	2	lehmann	lehmann	PROPN
hassl-3690	477	3	,	,	PUNCT
hassl-3690	477	4	e.	e.	PROPN
hassl-3690	477	5	,	,	PUNCT
hassl-3690	477	6	&	&	CCONJ
hassl-3690	477	7	weigand	weigand	PROPN
hassl-3690	477	8	,	,	PUNCT
hassl-3690	477	9	j.	j.	PROPN
hassl-3690	477	10	(	(	PUNCT
hassl-3690	477	11	2000	2000	NUM
hassl-3690	477	12	)	)	PUNCT
hassl-3690	477	13	.	.	PUNCT
hassl-3690	478	1	does	do	AUX
hassl-3690	478	2	the	the	DET
hassl-3690	478	3	governed	govern	VERB
hassl-3690	478	4	corporation	corporation	NOUN
hassl-3690	478	5	perform	perform	VERB
hassl-3690	478	6	better	well	ADV
hassl-3690	478	7	?	?	PUNCT
hassl-3690	479	1	governance	governance	NOUN
hassl-3690	479	2	structures	structure	NOUN
hassl-3690	479	3	and	and	CCONJ
hassl-3690	479	4	corporate	corporate	ADJ
hassl-3690	479	5	performa	performa	NOUN
hassl-3690	479	6	nce	nce	NOUN
hassl-3690	479	7	in	in	ADP
hassl-3690	479	8	germany	germany	PROPN
hassl-3690	479	9	.	.	PUNCT
hassl-3690	480	1	corporate	corporate	ADJ
hassl-3690	480	2	governance	governance	NOUN
hassl-3690	480	3	and	and	CCONJ
hassl-3690	480	4	corporate	corporate	ADJ
hassl-3690	480	5	finance	finance	NOUN
hassl-3690	480	6	:	:	PUNCT
hassl-3690	480	7	a	a	DET
hassl-3690	480	8	european	european	PROPN
hassl-3690	480	9	perspective	perspective	NOUN
hassl-3690	480	10	,	,	PUNCT
hassl-3690	480	11	491–522	491–522	NUM
hassl-3690	480	12	.	.	PUNCT
hassl-3690	481	1	https://doi.org/10.4324/9780203940136	https://doi.org/10.4324/9780203940136	ADJ
hassl-3690	482	1	li	li	PROPN
hassl-3690	482	2	,	,	PUNCT
hassl-3690	482	3	j.	j.	PROPN
hassl-3690	482	4	,	,	PUNCT
hassl-3690	482	5	wang	wang	PROPN
hassl-3690	482	6	,	,	PUNCT
hassl-3690	482	7	l.	l.	PROPN
hassl-3690	482	8	,	,	PUNCT
hassl-3690	482	9	zhou	zhou	PROPN
hassl-3690	482	10	,	,	PUNCT
hassl-3690	482	11	z.-q	z.-q	PROPN
hassl-3690	482	12	.	.	PROPN
hassl-3690	482	13	,	,	PUNCT
hassl-3690	482	14	&	&	CCONJ
hassl-3690	482	15	zhang	zhang	PROPN
hassl-3690	482	16	,	,	PUNCT
hassl-3690	482	17	y.	y.	PROPN
hassl-3690	482	18	(	(	PUNCT
hassl-3690	482	19	2021	2021	NUM
hassl-3690	482	20	)	)	PUNCT
hassl-3690	482	21	.	.	PUNCT
hassl-3690	483	1	monitoring	monitoring	NOUN
hassl-3690	483	2	or	or	CCONJ
hassl-3690	483	3	tunneling	tunneling	NOUN
hassl-3690	483	4	?	?	PUNCT
hassl-3690	484	1	information	information	NOUN
hassl-3690	484	2	interaction	interaction	NOUN
hassl-3690	484	3	among	among	ADP
hassl-3690	484	4	large	large	ADJ
hassl-3690	484	5	shareholders	shareholder	NOUN
hassl-3690	484	6	and	and	CCONJ
hassl-3690	484	7	the	the	DET
hassl-3690	484	8	crash	crash	NOUN
hassl-3690	484	9	risk	risk	NOUN
hassl-3690	484	10	of	of	ADP
hassl-3690	484	11	the	the	DET
hassl-3690	484	12	stock	stock	NOUN
hassl-3690	484	13	price	price	NOUN
hassl-3690	484	14	.	.	PUNCT
hassl-3690	485	1	pacific	pacific	ADJ
hassl-3690	485	2	-	-	PUNCT
hassl-3690	485	3	basin	basin	NOUN
hassl-3690	485	4	finance	finance	NOUN
hassl-3690	485	5	journal	journal	NOUN
hassl-3690	485	6	,	,	PUNCT
hassl-3690	485	7	65	65	NUM
hassl-3690	485	8	,	,	PUNCT
hassl-3690	485	9	101469	101469	NUM
hassl-3690	485	10	.	.	PUNCT
hassl-3690	486	1	https://doi.org/10.1016/j.pacfin.2020.101469	https://doi.org/10.1016/j.pacfin.2020.101469	PROPN
hassl-3690	486	2	li	li	PROPN
hassl-3690	486	3	,	,	PUNCT
hassl-3690	486	4	k.	k.	PROPN
hassl-3690	486	5	,	,	PUNCT
hassl-3690	486	6	morck	morck	PROPN
hassl-3690	486	7	,	,	PUNCT
hassl-3690	486	8	r.	r.	PROPN
hassl-3690	486	9	,	,	PUNCT
hassl-3690	486	10	yang	yang	PROPN
hassl-3690	486	11	,	,	PUNCT
hassl-3690	486	12	f.	f.	PROPN
hassl-3690	486	13	,	,	PUNCT
hassl-3690	486	14	&	&	CCONJ
hassl-3690	486	15	yeung	yeung	PROPN
hassl-3690	486	16	,	,	PUNCT
hassl-3690	486	17	b.	b.	PROPN
hassl-3690	486	18	(	(	PUNCT
hassl-3690	486	19	2004	2004	NUM
hassl-3690	486	20	)	)	PUNCT
hassl-3690	486	21	.	.	PUNCT
hassl-3690	487	1	firm	firm	ADJ
hassl-3690	487	2	-	-	PUNCT
hassl-3690	487	3	specific	specific	ADJ
hassl-3690	487	4	variation	variation	NOUN
hassl-3690	487	5	and	and	CCONJ
hassl-3690	487	6	openness	openness	NOUN
hassl-3690	487	7	in	in	ADP
hassl-3690	487	8	emerging	emerge	VERB
hassl-3690	487	9	markets	market	NOUN
hassl-3690	487	10	.	.	PUNCT
hassl-3690	488	1	review	review	NOUN
hassl-3690	488	2	of	of	ADP
hassl-3690	488	3	economics	economic	NOUN
hassl-3690	488	4	and	and	CCONJ
hassl-3690	488	5	statistics	statistic	NOUN
hassl-3690	488	6	,	,	PUNCT
hassl-3690	488	7	86(3	86(3	PROPN
hassl-3690	488	8	)	)	PUNCT
hassl-3690	488	9	,	,	PUNCT
hassl-3690	488	10	658	658	NUM
hassl-3690	488	11	-	-	SYM
hassl-3690	488	12	669	669	NUM
hassl-3690	488	13	.	.	PUNCT
hassl-3690	489	1	https://doi.org/10.1162/0034653041811789	https://doi.org/10.1162/0034653041811789	PROPN
hassl-3690	489	2	lintner	lintner	PROPN
hassl-3690	489	3	,	,	PUNCT
hassl-3690	489	4	j.	j.	PROPN
hassl-3690	489	5	(	(	PUNCT
hassl-3690	489	6	1965	1965	NUM
hassl-3690	489	7	)	)	PUNCT
hassl-3690	489	8	.	.	PUNCT
hassl-3690	490	1	security	security	NOUN
hassl-3690	490	2	prices	price	NOUN
hassl-3690	490	3	,	,	PUNCT
hassl-3690	490	4	risk	risk	NOUN
hassl-3690	490	5	,	,	PUNCT
hassl-3690	490	6	and	and	CCONJ
hassl-3690	490	7	maximal	maximal	ADJ
hassl-3690	490	8	gains	gain	NOUN
hassl-3690	490	9	from	from	ADP
hassl-3690	490	10	diversification	diversification	NOUN
hassl-3690	490	11	.	.	PUNCT
hassl-3690	491	1	the	the	DET
hassl-3690	491	2	journal	journal	PROPN
hassl-3690	491	3	of	of	ADP
hassl-3690	491	4	finance	finance	NOUN
hassl-3690	491	5	,	,	PUNCT
hassl-3690	491	6	20(4	20(4	NOUN
hassl-3690	491	7	)	)	PUNCT
hassl-3690	491	8	,	,	PUNCT
hassl-3690	491	9	587–615	587–615	NUM
hassl-3690	491	10	.	.	PUNCT
hassl-3690	492	1	lu	lu	PROPN
hassl-3690	492	2	,	,	PUNCT
hassl-3690	492	3	x.	x.	PROPN
hassl-3690	492	4	,	,	PUNCT
hassl-3690	492	5	wang	wang	PROPN
hassl-3690	492	6	,	,	PUNCT
hassl-3690	492	7	j.	j.	PROPN
hassl-3690	492	8	,	,	PUNCT
hassl-3690	492	9	&	&	CCONJ
hassl-3690	492	10	dong	dong	PROPN
hassl-3690	492	11	,	,	PUNCT
hassl-3690	492	12	d.	d.	PROPN
hassl-3690	492	13	(	(	PUNCT
hassl-3690	492	14	2013	2013	NUM
hassl-3690	492	15	)	)	PUNCT
hassl-3690	492	16	.	.	PUNCT
hassl-3690	493	1	busy	busy	ADJ
hassl-3690	493	2	boards	board	NOUN
hassl-3690	493	3	and	and	CCONJ
hassl-3690	493	4	corporate	corporate	ADJ
hassl-3690	493	5	performance	performance	NOUN
hassl-3690	493	6	.	.	PUNCT
hassl-3690	494	1	china	china	PROPN
hassl-3690	494	2	finance	finance	PROPN
hassl-3690	494	3	review	review	PROPN
hassl-3690	494	4	international	international	ADJ
hassl-3690	494	5	,	,	PUNCT
hassl-3690	494	6	3(2	3(2	NUM
hassl-3690	494	7	)	)	PUNCT
hassl-3690	494	8	,	,	PUNCT
hassl-3690	494	9	203	203	NUM
hassl-3690	494	10	-	-	SYM
hassl-3690	494	11	219	219	NUM
hassl-3690	494	12	.	.	PUNCT
hassl-3690	495	1	https://doi.org/10.1108/20441391311330618	https://doi.org/10.1108/20441391311330618	PROPN
hassl-3690	495	2	makhija	makhija	PROPN
hassl-3690	495	3	,	,	PUNCT
hassl-3690	495	4	a.	a.	PROPN
hassl-3690	495	5	k.	k.	PROPN
hassl-3690	495	6	,	,	PUNCT
hassl-3690	495	7	&	&	CCONJ
hassl-3690	495	8	patton	patton	PROPN
hassl-3690	495	9	,	,	PUNCT
hassl-3690	495	10	j.	j.	PROPN
hassl-3690	495	11	m.	m.	PROPN
hassl-3690	495	12	(	(	PUNCT
hassl-3690	495	13	2004	2004	NUM
hassl-3690	495	14	)	)	PUNCT
hassl-3690	495	15	.	.	PUNCT
hassl-3690	496	1	the	the	DET
hassl-3690	496	2	impact	impact	NOUN
hassl-3690	496	3	of	of	ADP
hassl-3690	496	4	firm	firm	ADJ
hassl-3690	496	5	ownership	ownership	NOUN
hassl-3690	496	6	structure	structure	NOUN
hassl-3690	496	7	on	on	ADP
hassl-3690	496	8	voluntary	voluntary	ADJ
hassl-3690	496	9	disclosure	disclosure	NOUN
hassl-3690	496	10	:	:	PUNCT
hassl-3690	496	11	empirical	empirical	ADJ
hassl-3690	496	12	evidence	evidence	NOUN
hassl-3690	496	13	from	from	ADP
hassl-3690	496	14	czech	czech	ADJ
hassl-3690	496	15	annual	annual	ADJ
hassl-3690	496	16	reports	report	NOUN
hassl-3690	496	17	.	.	PUNCT
hassl-3690	497	1	the	the	DET
hassl-3690	497	2	journal	journal	NOUN
hassl-3690	497	3	of	of	ADP
hassl-3690	497	4	business	business	NOUN
hassl-3690	497	5	,	,	PUNCT
hassl-3690	497	6	77(3	77(3	PROPN
hassl-3690	497	7	)	)	PUNCT
hassl-3690	497	8	,	,	PUNCT
hassl-3690	497	9	457	457	NUM
hassl-3690	497	10	-	-	SYM
hassl-3690	497	11	491	491	NUM
hassl-3690	497	12	.	.	PUNCT
hassl-3690	498	1	https://doi.org/10.1086/386526	https://doi.org/10.1086/386526	NOUN
hassl-3690	498	2	markowitz	markowitz	PROPN
hassl-3690	498	3	,	,	PUNCT
hassl-3690	498	4	h.	h.	PROPN
hassl-3690	498	5	m.	m.	PROPN
hassl-3690	498	6	(	(	PUNCT
hassl-3690	498	7	1991	1991	NUM
hassl-3690	498	8	)	)	PUNCT
hassl-3690	498	9	.	.	PUNCT
hassl-3690	499	1	foundations	foundation	NOUN
hassl-3690	499	2	of	of	ADP
hassl-3690	499	3	portfolio	portfolio	NOUN
hassl-3690	499	4	theory	theory	NOUN
hassl-3690	499	5	.	.	PUNCT
hassl-3690	500	1	the	the	DET
hassl-3690	500	2	journal	journal	PROPN
hassl-3690	500	3	of	of	ADP
hassl-3690	500	4	finance	finance	NOUN
hassl-3690	500	5	,	,	PUNCT
hassl-3690	500	6	46(2	46(2	NOUN
hassl-3690	500	7	)	)	PUNCT
hassl-3690	500	8	,	,	PUNCT
hassl-3690	500	9	469	469	PROPN
hassl-3690	500	10	-	-	SYM
hassl-3690	500	11	477	477	NUM
hassl-3690	500	12	.	.	PUNCT
hassl-3690	501	1	masulis	masulis	PROPN
hassl-3690	501	2	,	,	PUNCT
hassl-3690	501	3	r.	r.	PROPN
hassl-3690	501	4	w.	w.	PROPN
hassl-3690	501	5	,	,	PUNCT
hassl-3690	501	6	&	&	CCONJ
hassl-3690	501	7	mobbs	mobbs	PROPN
hassl-3690	501	8	,	,	PUNCT
hassl-3690	501	9	s.	s.	PROPN
hassl-3690	501	10	(	(	PUNCT
hassl-3690	501	11	2011	2011	NUM
hassl-3690	501	12	)	)	PUNCT
hassl-3690	501	13	.	.	PUNCT
hassl-3690	502	1	are	be	AUX
hassl-3690	502	2	all	all	ADV
hassl-3690	502	3	inside	inside	ADJ
hassl-3690	502	4	directors	director	NOUN
hassl-3690	502	5	the	the	DET
hassl-3690	502	6	same	same	ADJ
hassl-3690	502	7	?	?	PUNCT
hassl-3690	503	1	evidence	evidence	NOUN
hassl-3690	503	2	from	from	ADP
hassl-3690	503	3	the	the	DET
hassl-3690	503	4	external	external	ADJ
hassl-3690	503	5	directorship	directorship	NOUN
hassl-3690	503	6	market	market	NOUN
hassl-3690	503	7	.	.	PUNCT
hassl-3690	504	1	the	the	DET
hassl-3690	504	2	journal	journal	PROPN
hassl-3690	504	3	of	of	ADP
hassl-3690	504	4	finance	finance	NOUN
hassl-3690	504	5	,	,	PUNCT
hassl-3690	504	6	66(3	66(3	NOUN
hassl-3690	504	7	)	)	PUNCT
hassl-3690	504	8	,	,	PUNCT
hassl-3690	504	9	823	823	NUM
hassl-3690	504	10	-	-	SYM
hassl-3690	504	11	872	872	NUM
hassl-3690	504	12	.	.	PUNCT
hassl-3690	505	1	https://doi.org/10.1111/j.1540-6261.2011.01653.x	https://doi.org/10.1111/j.1540-6261.2011.01653.x	PROPN
hassl-3690	505	2	mazzucato	mazzucato	PROPN
hassl-3690	505	3	,	,	PUNCT
hassl-3690	505	4	m.	m.	NOUN
hassl-3690	505	5	,	,	PUNCT
hassl-3690	505	6	&	&	CCONJ
hassl-3690	505	7	tancioni	tancioni	ADJ
hassl-3690	505	8	,	,	PUNCT
hassl-3690	505	9	m.	m.	NOUN
hassl-3690	505	10	(	(	PUNCT
hassl-3690	505	11	2008	2008	NUM
hassl-3690	505	12	)	)	PUNCT
hassl-3690	505	13	.	.	PUNCT
hassl-3690	506	1	innovation	innovation	NOUN
hassl-3690	506	2	and	and	CCONJ
hassl-3690	506	3	idiosyncratic	idiosyncratic	ADJ
hassl-3690	506	4	risk	risk	NOUN
hassl-3690	506	5	:	:	PUNCT
hassl-3690	506	6	an	an	DET
hassl-3690	506	7	industry	industry	NOUN
hassl-3690	506	8	-	-	PUNCT
hassl-3690	506	9	and	and	CCONJ
hassl-3690	506	10	firm	firm	ADJ
hassl-3690	506	11	-	-	PUNCT
hassl-3690	506	12	level	level	NOUN
hassl-3690	506	13	analysis	analysis	NOUN
hassl-3690	506	14	.	.	PUNCT
hassl-3690	507	1	industrial	industrial	ADJ
hassl-3690	507	2	and	and	CCONJ
hassl-3690	507	3	corporate	corporate	ADJ
hassl-3690	507	4	change	change	NOUN
hassl-3690	507	5	,	,	PUNCT
hassl-3690	507	6	17(4	17(4	NUM
hassl-3690	507	7	)	)	PUNCT
hassl-3690	507	8	,	,	PUNCT
hassl-3690	507	9	779	779	NUM
hassl-3690	507	10	-	-	SYM
hassl-3690	507	11	811	811	NUM
hassl-3690	507	12	.	.	PUNCT
hassl-3690	508	1	https://doi.org/10.1093/icc/dtn024	https://doi.org/10.1093/icc/dtn024	NOUN
hassl-3690	508	2	mbanyele	mbanyele	NOUN
hassl-3690	508	3	,	,	PUNCT
hassl-3690	508	4	w.	w.	NOUN
hassl-3690	508	5	(	(	PUNCT
hassl-3690	508	6	2020	2020	NUM
hassl-3690	508	7	)	)	PUNCT
hassl-3690	508	8	.	.	PUNCT
hassl-3690	509	1	do	do	AUX
hassl-3690	509	2	busy	busy	ADJ
hassl-3690	509	3	directors	director	NOUN
hassl-3690	509	4	impede	impede	VERB
hassl-3690	509	5	or	or	CCONJ
hassl-3690	509	6	spur	spur	VERB
hassl-3690	509	7	bank	bank	NOUN
hassl-3690	509	8	performance	performance	NOUN
hassl-3690	509	9	and	and	CCONJ
hassl-3690	509	10	bank	bank	NOUN
hassl-3690	509	11	risks	risk	NOUN
hassl-3690	509	12	?	?	PUNCT
hassl-3690	510	1	event	event	NOUN
hassl-3690	510	2	study	study	NOUN
hassl-3690	510	3	evidence	evidence	NOUN
hassl-3690	510	4	from	from	ADP
hassl-3690	510	5	brazil	brazil	PROPN
hassl-3690	510	6	.	.	PUNCT
hassl-3690	511	1	sage	sage	NOUN
hassl-3690	511	2	open	open	ADJ
hassl-3690	511	3	,	,	PUNCT
hassl-3690	511	4	10(2	10(2	NUM
hassl-3690	511	5	)	)	PUNCT
hassl-3690	511	6	,	,	PUNCT
hassl-3690	511	7	2158244020933594	2158244020933594	NUM
hassl-3690	511	8	.	.	PUNCT
hassl-3690	512	1	https://doi.org/10.1177/2158244020933594	https://doi.org/10.1177/2158244020933594	X
hassl-3690	512	2	mendez	mendez	PROPN
hassl-3690	512	3	,	,	PUNCT
hassl-3690	512	4	f.	f.	PROPN
hassl-3690	512	5	c.	c.	PROPN
hassl-3690	512	6	,	,	PUNCT
hassl-3690	512	7	arrondo	arrondo	PROPN
hassl-3690	512	8	garcia	garcia	PROPN
hassl-3690	512	9	,	,	PUNCT
hassl-3690	512	10	r.	r.	PROPN
hassl-3690	512	11	,	,	PUNCT
hassl-3690	512	12	&	&	CCONJ
hassl-3690	512	13	pathan	pathan	PROPN
hassl-3690	512	14	,	,	PUNCT
hassl-3690	512	15	s.	s.	PROPN
hassl-3690	512	16	(	(	PUNCT
hassl-3690	512	17	2017	2017	NUM
hassl-3690	512	18	)	)	PUNCT
hassl-3690	512	19	.	.	PUNCT
hassl-3690	513	1	monitoring	monitor	VERB
hassl-3690	513	2	by	by	ADP
hassl-3690	513	3	busy	busy	ADJ
hassl-3690	513	4	and	and	CCONJ
hassl-3690	513	5	overlap	overlap	VERB
hassl-3690	513	6	directors	director	NOUN
hassl-3690	513	7	:	:	PUNCT
hassl-3690	513	8	an	an	DET
hassl-3690	513	9	examination	examination	NOUN
hassl-3690	513	10	of	of	ADP
hassl-3690	513	11	executive	executive	ADJ
hassl-3690	513	12	remuneration	remuneration	NOUN
hassl-3690	513	13	and	and	CCONJ
hassl-3690	513	14	financial	financial	ADJ
hassl-3690	513	15	reporting	reporting	NOUN
hassl-3690	513	16	quality	quality	NOUN
hassl-3690	513	17	.	.	PUNCT
hassl-3690	514	1	spanish	spanish	ADJ
hassl-3690	514	2	journal	journal	PROPN
hassl-3690	514	3	of	of	ADP
hassl-3690	514	4	finance	finance	NOUN
hassl-3690	514	5	and	and	CCONJ
hassl-3690	514	6	accounting	accounting	NOUN
hassl-3690	514	7	,	,	PUNCT
hassl-3690	514	8	46(1	46(1	PROPN
hassl-3690	514	9	)	)	PUNCT
hassl-3690	514	10	,	,	PUNCT
hassl-3690	514	11	28	28	NUM
hassl-3690	514	12	-	-	SYM
hassl-3690	514	13	62	62	NUM
hassl-3690	514	14	.	.	PUNCT
hassl-3690	515	1	https://doi.org/10.1080/02102412.2016.1250345	https://doi.org/10.1080/02102412.2016.1250345	PROPN
hassl-3690	515	2	merton	merton	PROPN
hassl-3690	515	3	,	,	PUNCT
hassl-3690	515	4	r.	r.	PROPN
hassl-3690	515	5	(	(	PUNCT
hassl-3690	515	6	1987	1987	NUM
hassl-3690	515	7	)	)	PUNCT
hassl-3690	515	8	.	.	PUNCT
hassl-3690	516	1	a	a	DET
hassl-3690	516	2	simplemodel	simplemodel	NOUN
hassl-3690	516	3	of	of	ADP
hassl-3690	516	4	capital	capital	NOUN
hassl-3690	516	5	market	market	NOUN
hassl-3690	516	6	equilibrium	equilibrium	NOUN
hassl-3690	516	7	with	with	ADP
hassl-3690	516	8	incomplete	incomplete	ADJ
hassl-3690	516	9	information	information	NOUN
hassl-3690	516	10	.	.	PUNCT
hassl-3690	517	1	journal	journal	PROPN
hassl-3690	517	2	of	of	ADP
hassl-3690	517	3	finance	finance	NOUN
hassl-3690	517	4	,	,	PUNCT
hassl-3690	517	5	42(3	42(3	NUM
hassl-3690	517	6	)	)	PUNCT
hassl-3690	517	7	,	,	PUNCT
hassl-3690	517	8	483	483	NUM
hassl-3690	517	9	-	-	SYM
hassl-3690	517	10	510	510	NUM
hassl-3690	517	11	.	.	PUNCT
hassl-3690	518	1	miller	miller	PROPN
hassl-3690	518	2	,	,	PUNCT
hassl-3690	518	3	k.	k.	PROPN
hassl-3690	518	4	d.	d.	PROPN
hassl-3690	518	5	,	,	PUNCT
hassl-3690	518	6	&	&	CCONJ
hassl-3690	518	7	chen	chen	PROPN
hassl-3690	518	8	,	,	PUNCT
hassl-3690	518	9	w.-r	w.-r	PROPN
hassl-3690	518	10	.	.	PUNCT
hassl-3690	519	1	(	(	PUNCT
hassl-3690	519	2	2003	2003	NUM
hassl-3690	519	3	)	)	PUNCT
hassl-3690	519	4	.	.	PUNCT
hassl-3690	520	1	risk	risk	NOUN
hassl-3690	520	2	and	and	CCONJ
hassl-3690	520	3	firms	firm	NOUN
hassl-3690	520	4	'	'	PART
hassl-3690	520	5	costs	cost	NOUN
hassl-3690	520	6	.	.	PUNCT
hassl-3690	521	1	strategic	strategic	ADJ
hassl-3690	521	2	organization	organization	NOUN
hassl-3690	521	3	,	,	PUNCT
hassl-3690	521	4	1(4	1(4	NUM
hassl-3690	521	5	)	)	PUNCT
hassl-3690	521	6	,	,	PUNCT
hassl-3690	521	7	355	355	NUM
hassl-3690	521	8	-	-	SYM
hassl-3690	521	9	382	382	NUM
hassl-3690	521	10	.	.	PUNCT
hassl-3690	522	1	https://doi.org/10.1177/14761270030014001	https://doi.org/10.1177/14761270030014001	X
hassl-3690	522	2	mitton	mitton	PROPN
hassl-3690	522	3	,	,	PUNCT
hassl-3690	522	4	t.	t.	PROPN
hassl-3690	522	5	(	(	PUNCT
hassl-3690	522	6	2002	2002	NUM
hassl-3690	522	7	)	)	PUNCT
hassl-3690	522	8	.	.	PUNCT
hassl-3690	523	1	a	a	DET
hassl-3690	523	2	cross	cross	ADJ
hassl-3690	523	3	-	-	ADJ
hassl-3690	523	4	firm	firm	ADJ
hassl-3690	523	5	analysis	analysis	NOUN
hassl-3690	523	6	of	of	ADP
hassl-3690	523	7	the	the	DET
hassl-3690	523	8	impact	impact	NOUN
hassl-3690	523	9	of	of	ADP
hassl-3690	523	10	corporate	corporate	ADJ
hassl-3690	523	11	governance	governance	NOUN
hassl-3690	523	12	on	on	ADP
hassl-3690	523	13	the	the	DET
hassl-3690	523	14	east	east	ADJ
hassl-3690	523	15	asian	asian	ADJ
hassl-3690	523	16	financial	financial	ADJ
hassl-3690	523	17	crisis	crisis	NOUN
hassl-3690	523	18	.	.	PUNCT
hassl-3690	524	1	journal	journal	NOUN
hassl-3690	524	2	of	of	ADP
hassl-3690	524	3	financial	financial	ADJ
hassl-3690	524	4	economics	economic	NOUN
hassl-3690	524	5	,	,	PUNCT
hassl-3690	524	6	64(2	64(2	NUM
hassl-3690	524	7	)	)	PUNCT
hassl-3690	524	8	,	,	PUNCT
hassl-3690	524	9	215	215	NUM
hassl-3690	524	10	-	-	SYM
hassl-3690	524	11	241	241	NUM
hassl-3690	524	12	.	.	PUNCT
hassl-3690	525	1	https://doi.org/10.1016/s0304-405x(02)00076-4	https://doi.org/10.1016/s0304-405x(02)00076-4	PROPN
hassl-3690	525	2	mossin	mossin	PROPN
hassl-3690	525	3	,	,	PUNCT
hassl-3690	525	4	j.	j.	PROPN
hassl-3690	525	5	(	(	PUNCT
hassl-3690	525	6	1966	1966	NUM
hassl-3690	525	7	)	)	PUNCT
hassl-3690	525	8	.	.	PUNCT
hassl-3690	526	1	equilibrium	equilibrium	NOUN
hassl-3690	526	2	in	in	ADP
hassl-3690	526	3	a	a	DET
hassl-3690	526	4	capital	capital	NOUN
hassl-3690	526	5	asset	asset	NOUN
hassl-3690	526	6	market	market	NOUN
hassl-3690	526	7	.	.	PUNCT
hassl-3690	527	1	econometrica	econometrica	PROPN
hassl-3690	527	2	,	,	PUNCT
hassl-3690	527	3	34(4	34(4	NUM
hassl-3690	527	4	)	)	PUNCT
hassl-3690	527	5	,	,	PUNCT
hassl-3690	527	6	768	768	NUM
hassl-3690	527	7	-	-	SYM
hassl-3690	527	8	783	783	NUM
hassl-3690	527	9	.	.	PUNCT
hassl-3690	528	1	nadeem	nadeem	PROPN
hassl-3690	528	2	,	,	PUNCT
hassl-3690	528	3	m.	m.	NOUN
hassl-3690	528	4	,	,	PUNCT
hassl-3690	528	5	suleman	suleman	NOUN
hassl-3690	528	6	,	,	PUNCT
hassl-3690	528	7	t.	t.	PROPN
hassl-3690	528	8	,	,	PUNCT
hassl-3690	528	9	&	&	CCONJ
hassl-3690	528	10	ahmed	ahmed	PROPN
hassl-3690	528	11	,	,	PUNCT
hassl-3690	528	12	a.	a.	NOUN
hassl-3690	528	13	(	(	PUNCT
hassl-3690	528	14	2019	2019	NUM
hassl-3690	528	15	)	)	PUNCT
hassl-3690	528	16	.	.	PUNCT
hassl-3690	529	1	women	woman	NOUN
hassl-3690	529	2	on	on	ADP
hassl-3690	529	3	boards	board	NOUN
hassl-3690	529	4	,	,	PUNCT
hassl-3690	529	5	firm	firm	ADJ
hassl-3690	529	6	risk	risk	NOUN
hassl-3690	529	7	and	and	CCONJ
hassl-3690	529	8	the	the	DET
hassl-3690	529	9	profitability	profitability	NOUN
hassl-3690	529	10	nexus	nexus	NOUN
hassl-3690	529	11	:	:	PUNCT
hassl-3690	529	12	does	do	AUX
hassl-3690	529	13	gender	gender	NOUN
hassl-3690	529	14	diversity	diversity	NOUN
hassl-3690	529	15	moderate	moderate	VERB
hassl-3690	529	16	the	the	DET
hassl-3690	529	17	risk	risk	NOUN
hassl-3690	529	18	and	and	CCONJ
hassl-3690	529	19	return	return	VERB
hassl-3690	529	20	relationship	relationship	NOUN
hassl-3690	529	21	?	?	PUNCT
hassl-3690	530	1	international	international	ADJ
hassl-3690	530	2	review	review	NOUN
hassl-3690	530	3	of	of	ADP
hassl-3690	530	4	economics	economics	PROPN
hassl-3690	530	5	&	&	CCONJ
hassl-3690	530	6	finance	finance	PROPN
hassl-3690	530	7	,	,	PUNCT
hassl-3690	530	8	64	64	NUM
hassl-3690	530	9	,	,	PUNCT
hassl-3690	530	10	427	427	NUM
hassl-3690	530	11	-	-	SYM
hassl-3690	530	12	442	442	NUM
hassl-3690	530	13	.	.	PUNCT
hassl-3690	531	1	https://doi.org/10.1016/j.iref.2019.08.007	https://doi.org/10.1016/j.iref.2019.08.007	VERB
hassl-3690	531	2	https://doi.org/10.1016/j.cjar.2012.12.002	https://doi.org/10.1016/j.cjar.2012.12.002	NOUN
hassl-3690	531	3	https://doi.org/10.1002/9780470752135.ch17	https://doi.org/10.1002/9780470752135.ch17	PROPN
hassl-3690	531	4	https://doi.org/10.1016/j.jbankfin.2008.09.020	https://doi.org/10.1016/j.jbankfin.2008.09.020	VERB
hassl-3690	531	5	https://doi.org/10.1016/j.jbankfin.2015.06.020	https://doi.org/10.1016/j.jbankfin.2015.06.020	PROPN
hassl-3690	531	6	https://doi.org/10.1111/0022-1082.00115	https://doi.org/10.1111/0022-1082.00115	NOUN
hassl-3690	531	7	https://doi.org/10.4324/9780203940136	https://doi.org/10.4324/9780203940136	NOUN
hassl-3690	531	8	https://doi.org/10.1016/j.pacfin.2020.101469	https://doi.org/10.1016/j.pacfin.2020.101469	PROPN
hassl-3690	531	9	https://doi.org/10.1162/0034653041811789	https://doi.org/10.1162/0034653041811789	ADV
hassl-3690	531	10	https://doi.org/10.1108/20441391311330618	https://doi.org/10.1108/20441391311330618	NOUN
hassl-3690	531	11	https://doi.org/10.1086/386526	https://doi.org/10.1086/386526	NOUN
hassl-3690	531	12	https://doi.org/10.1111/j.1540-6261.2011.01653.x	https://doi.org/10.1111/j.1540-6261.2011.01653.x	NOUN
hassl-3690	532	1	https://doi.org/10.1093/icc/dtn024	https://doi.org/10.1093/icc/dtn024	NOUN
hassl-3690	532	2	https://doi.org/10.1177/2158244020933594	https://doi.org/10.1177/2158244020933594	X
hassl-3690	532	3	https://doi.org/10.1080/02102412.2016.1250345	https://doi.org/10.1080/02102412.2016.1250345	X
hassl-3690	533	1	https://doi.org/10.1177/14761270030014001	https://doi.org/10.1177/14761270030014001	X
hassl-3690	533	2	https://doi.org/10.1016/s0304-405x(02)00076-4	https://doi.org/10.1016/s0304-405x(02)00076-4	PROPN
hassl-3690	533	3	https://doi.org/10.1016/j.iref.2019.08.007	https://doi.org/10.1016/j.iref.2019.08.007	VERB
hassl-3690	533	4	humanities	humanity	NOUN
hassl-3690	533	5	and	and	CCONJ
hassl-3690	533	6	social	social	ADJ
hassl-3690	533	7	sciences	science	NOUN
hassl-3690	533	8	letters	letter	NOUN
hassl-3690	533	9	,	,	PUNCT
hassl-3690	533	10	2024	2024	NUM
hassl-3690	533	11	,	,	PUNCT
hassl-3690	533	12	12(2	12(2	NUM
hassl-3690	533	13	):	):	PUNCT
hassl-3690	533	14	218	218	NUM
hassl-3690	533	15	-	-	SYM
hassl-3690	533	16	232	232	NUM
hassl-3690	533	17	232	232	NUM
hassl-3690	533	18	©	©	PROPN
hassl-3690	533	19	2024	2024	NUM
hassl-3690	533	20	conscientia	conscientia	PROPN
hassl-3690	533	21	beam	beam	PROPN
hassl-3690	533	22	.	.	PUNCT
hassl-3690	534	1	all	all	DET
hassl-3690	534	2	rights	right	NOUN
hassl-3690	534	3	reserved	reserve	VERB
hassl-3690	534	4	.	.	PUNCT
hassl-3690	535	1	number	number	NOUN
hassl-3690	535	2	33	33	NUM
hassl-3690	535	3	/	/	SYM
hassl-3690	535	4	pojk.04/2014	pojk.04/2014	NOUN
hassl-3690	535	5	.	.	PUNCT
hassl-3690	536	1	(	(	PUNCT
hassl-3690	536	2	2014	2014	NUM
hassl-3690	536	3	)	)	PUNCT
hassl-3690	536	4	.	.	PUNCT
hassl-3690	537	1	directors	director	NOUN
hassl-3690	537	2	and	and	CCONJ
hassl-3690	537	3	board	board	NOUN
hassl-3690	537	4	of	of	ADP
hassl-3690	537	5	commissioners	commissioner	NOUN
hassl-3690	537	6	of	of	ADP
hassl-3690	537	7	issuers	issuer	NOUN
hassl-3690	537	8	or	or	CCONJ
hassl-3690	537	9	public	public	ADJ
hassl-3690	537	10	companies	company	NOUN
hassl-3690	537	11	:	:	PUNCT
hassl-3690	537	12	republic	republic	NOUN
hassl-3690	537	13	of	of	ADP
hassl-3690	537	14	indonesia	indonesia	PROPN
hassl-3690	537	15	financial	financial	PROPN
hassl-3690	537	16	services	service	NOUN
hassl-3690	537	17	authority	authority	NOUN
hassl-3690	537	18	.	.	PUNCT
hassl-3690	538	1	https://ojk.go.id/en/kanal/pasar-modal/regulasi/peraturan-ojk/pages/ojk-regulation-concerningthe-board-of-directors-and-the-board-of-commissioners-of-issuers-of-public-companies.aspx	https://ojk.go.id/en/kanal/pasar-modal/regulasi/peraturan-ojk/pages/ojk-regulation-concerningthe-board-of-directors-and-the-board-of-commissioners-of-issuers-of-public-companies.aspx	X
hassl-3690	538	2	okoyeuzu	okoyeuzu	PROPN
hassl-3690	538	3	,	,	PUNCT
hassl-3690	538	4	c.	c.	PROPN
hassl-3690	538	5	,	,	PUNCT
hassl-3690	538	6	ujunwa	ujunwa	PROPN
hassl-3690	538	7	,	,	PUNCT
hassl-3690	538	8	a.	a.	PROPN
hassl-3690	538	9	,	,	PUNCT
hassl-3690	538	10	ujunwa	ujunwa	PROPN
hassl-3690	538	11	,	,	PUNCT
hassl-3690	538	12	a.	a.	NOUN
hassl-3690	538	13	i.	i.	PROPN
hassl-3690	538	14	,	,	PUNCT
hassl-3690	538	15	&	&	CCONJ
hassl-3690	538	16	onah	onah	PROPN
hassl-3690	538	17	,	,	PUNCT
hassl-3690	538	18	e.	e.	PROPN
hassl-3690	538	19	o.	o.	PROPN
hassl-3690	538	20	(	(	PUNCT
hassl-3690	538	21	2021	2021	NUM
hassl-3690	538	22	)	)	PUNCT
hassl-3690	538	23	.	.	PUNCT
hassl-3690	539	1	independent	independent	PROPN
hassl-3690	539	2	board	board	PROPN
hassl-3690	539	3	,	,	PUNCT
hassl-3690	539	4	gender	gender	NOUN
hassl-3690	539	5	diversity	diversity	NOUN
hassl-3690	539	6	and	and	CCONJ
hassl-3690	539	7	bank	bank	NOUN
hassl-3690	539	8	performance	performance	NOUN
hassl-3690	539	9	in	in	ADP
hassl-3690	539	10	ni	ni	PROPN
hassl-3690	539	11	geria	geria	PROPN
hassl-3690	539	12	:	:	PUNCT
hassl-3690	539	13	a	a	DET
hassl-3690	539	14	system	system	NOUN
hassl-3690	539	15	-	-	PUNCT
hassl-3690	539	16	gmm	gmm	NOUN
hassl-3690	539	17	approach	approach	NOUN
hassl-3690	539	18	.	.	PUNCT
hassl-3690	540	1	gender	gender	NOUN
hassl-3690	540	2	in	in	ADP
hassl-3690	540	3	management	management	NOUN
hassl-3690	540	4	:	:	PUNCT
hassl-3690	540	5	an	an	DET
hassl-3690	540	6	international	international	ADJ
hassl-3690	540	7	journal	journal	NOUN
hassl-3690	540	8	,	,	PUNCT
hassl-3690	540	9	36(6	36(6	NUM
hassl-3690	540	10	)	)	PUNCT
hassl-3690	540	11	,	,	PUNCT
hassl-3690	540	12	677	677	NUM
hassl-3690	540	13	-	-	SYM
hassl-3690	540	14	696	696	NUM
hassl-3690	540	15	.	.	PUNCT
hassl-3690	541	1	https://doi.org/10.1108/gm-042020-0129	https://doi.org/10.1108/gm-042020-0129	PROPN
hassl-3690	541	2	pagano	pagano	PROPN
hassl-3690	541	3	,	,	PUNCT
hassl-3690	541	4	m.	m.	NOUN
hassl-3690	541	5	,	,	PUNCT
hassl-3690	541	6	&	&	CCONJ
hassl-3690	541	7	röell	röell	PROPN
hassl-3690	541	8	,	,	PUNCT
hassl-3690	541	9	a.	a.	NOUN
hassl-3690	541	10	(	(	PUNCT
hassl-3690	541	11	1998	1998	NUM
hassl-3690	541	12	)	)	PUNCT
hassl-3690	541	13	.	.	PUNCT
hassl-3690	542	1	the	the	DET
hassl-3690	542	2	choice	choice	NOUN
hassl-3690	542	3	of	of	ADP
hassl-3690	542	4	stock	stock	NOUN
hassl-3690	542	5	ownership	ownership	NOUN
hassl-3690	542	6	structure	structure	NOUN
hassl-3690	542	7	:	:	PUNCT
hassl-3690	542	8	agency	agency	NOUN
hassl-3690	542	9	costs	cost	NOUN
hassl-3690	542	10	,	,	PUNCT
hassl-3690	542	11	monitoring	monitoring	NOUN
hassl-3690	542	12	,	,	PUNCT
hassl-3690	542	13	and	and	CCONJ
hassl-3690	542	14	the	the	DET
hassl-3690	542	15	decision	decision	NOUN
hassl-3690	542	16	to	to	PART
hassl-3690	542	17	go	go	VERB
hassl-3690	542	18	pub	pub	NOUN
hassl-3690	542	19	lic	lic	NOUN
hassl-3690	542	20	.	.	PUNCT
hassl-3690	543	1	the	the	DET
hassl-3690	543	2	quarterly	quarterly	ADJ
hassl-3690	543	3	journal	journal	NOUN
hassl-3690	543	4	of	of	ADP
hassl-3690	543	5	economics	economic	NOUN
hassl-3690	543	6	,	,	PUNCT
hassl-3690	543	7	113(1	113(1	NUM
hassl-3690	543	8	)	)	PUNCT
hassl-3690	543	9	,	,	PUNCT
hassl-3690	543	10	187	187	NUM
hassl-3690	543	11	-	-	SYM
hassl-3690	543	12	225	225	NUM
hassl-3690	543	13	.	.	PUNCT
hassl-3690	544	1	https://doi.org/10.1162/003355398555568	https://doi.org/10.1162/003355398555568	PROPN
hassl-3690	544	2	pandey	pandey	PROPN
hassl-3690	544	3	,	,	PUNCT
hassl-3690	544	4	n.	n.	PROPN
hassl-3690	544	5	,	,	PUNCT
hassl-3690	544	6	baker	baker	PROPN
hassl-3690	544	7	,	,	PUNCT
hassl-3690	544	8	h.	h.	PROPN
hassl-3690	544	9	k.	k.	PROPN
hassl-3690	544	10	,	,	PUNCT
hassl-3690	544	11	kumar	kumar	PROPN
hassl-3690	544	12	,	,	PUNCT
hassl-3690	544	13	s.	s.	PROPN
hassl-3690	544	14	,	,	PUNCT
hassl-3690	544	15	gupta	gupta	PROPN
hassl-3690	544	16	,	,	PUNCT
hassl-3690	544	17	p.	p.	PROPN
hassl-3690	544	18	,	,	PUNCT
hassl-3690	544	19	&	&	CCONJ
hassl-3690	544	20	ali	ali	PROPN
hassl-3690	544	21	,	,	PUNCT
hassl-3690	544	22	s.	s.	PROPN
hassl-3690	544	23	(	(	PUNCT
hassl-3690	544	24	2023	2023	NUM
hassl-3690	544	25	)	)	PUNCT
hassl-3690	544	26	.	.	PUNCT
hassl-3690	545	1	board	board	NOUN
hassl-3690	545	2	diversity	diversity	NOUN
hassl-3690	545	3	and	and	CCONJ
hassl-3690	545	4	firm	firm	ADJ
hassl-3690	545	5	performance	performance	NOUN
hassl-3690	545	6	:	:	PUNCT
hassl-3690	545	7	the	the	DET
hassl-3690	545	8	role	role	NOUN
hassl-3690	545	9	of	of	ADP
hassl-3690	545	10	contextua	contextua	PROPN
hassl-3690	545	11	l	l	NOUN
hassl-3690	545	12	variables	variable	NOUN
hassl-3690	545	13	.	.	PUNCT
hassl-3690	546	1	british	british	ADJ
hassl-3690	546	2	journal	journal	PROPN
hassl-3690	546	3	of	of	ADP
hassl-3690	546	4	management	management	NOUN
hassl-3690	546	5	,	,	PUNCT
hassl-3690	546	6	34(4	34(4	NUM
hassl-3690	546	7	)	)	PUNCT
hassl-3690	546	8	,	,	PUNCT
hassl-3690	546	9	1920	1920	NUM
hassl-3690	546	10	-	-	SYM
hassl-3690	546	11	1947	1947	NUM
hassl-3690	546	12	.	.	PUNCT
hassl-3690	547	1	https://doi.org/10.1111/1467-8551.12675	https://doi.org/10.1111/1467-8551.12675	PROPN
hassl-3690	547	2	pucheta	pucheta	NOUN
hassl-3690	547	3	-	-	PUNCT
hassl-3690	547	4	martínez	martínez	NOUN
hassl-3690	547	5	,	,	PUNCT
hassl-3690	547	6	m.	m.	PROPN
hassl-3690	547	7	c.	c.	PROPN
hassl-3690	547	8	,	,	PUNCT
hassl-3690	547	9	&	&	CCONJ
hassl-3690	547	10	gallego	gallego	NOUN
hassl-3690	547	11	-	-	PUNCT
hassl-3690	547	12	álvarez	álvarez	NOUN
hassl-3690	547	13	,	,	PUNCT
hassl-3690	547	14	i.	i.	NOUN
hassl-3690	547	15	(	(	PUNCT
hassl-3690	547	16	2020	2020	NUM
hassl-3690	547	17	)	)	PUNCT
hassl-3690	547	18	.	.	PUNCT
hassl-3690	548	1	do	do	AUX
hassl-3690	548	2	board	board	NOUN
hassl-3690	548	3	characteristics	characteristics	PROPN
hassl-3690	548	4	drive	drive	VERB
hassl-3690	548	5	firm	firm	ADJ
hassl-3690	548	6	performance	performance	NOUN
hassl-3690	548	7	?	?	PUNCT
hassl-3690	549	1	an	an	DET
hassl-3690	549	2	international	international	ADJ
hassl-3690	549	3	perspective	perspective	NOUN
hassl-3690	549	4	.	.	PUNCT
hassl-3690	550	1	in	in	ADP
hassl-3690	550	2	review	review	NOUN
hassl-3690	550	3	of	of	ADP
hassl-3690	550	4	managerial	managerial	ADJ
hassl-3690	550	5	science	science	NOUN
hassl-3690	550	6	(	(	PUNCT
hassl-3690	550	7	vol	vol	NOUN
hassl-3690	550	8	.	.	PROPN
hassl-3690	550	9	14	14	NUM
hassl-3690	550	10	)	)	PUNCT
hassl-3690	550	11	.	.	PUNCT
hassl-3690	551	1	berlin	berlin	PROPN
hassl-3690	551	2	,	,	PUNCT
hassl-3690	551	3	heidelberg	heidelberg	PROPN
hassl-3690	551	4	:	:	PUNCT
hassl-3690	551	5	springer	springer	NOUN
hassl-3690	551	6	.	.	PUNCT
hassl-3690	552	1	raithatha	raithatha	NOUN
hassl-3690	552	2	,	,	PUNCT
hassl-3690	552	3	m.	m.	NOUN
hassl-3690	552	4	,	,	PUNCT
hassl-3690	552	5	&	&	CCONJ
hassl-3690	552	6	ladkani	ladkani	PROPN
hassl-3690	552	7	,	,	PUNCT
hassl-3690	552	8	r.	r.	PROPN
hassl-3690	552	9	(	(	PUNCT
hassl-3690	552	10	2023	2023	NUM
hassl-3690	552	11	)	)	PUNCT
hassl-3690	552	12	.	.	PUNCT
hassl-3690	553	1	do	do	AUX
hassl-3690	553	2	board	board	NOUN
hassl-3690	553	3	characteristics	characteristic	NOUN
hassl-3690	553	4	play	play	VERB
hassl-3690	553	5	a	a	DET
hassl-3690	553	6	moderating	moderate	VERB
hassl-3690	553	7	role	role	NOUN
hassl-3690	553	8	in	in	ADP
hassl-3690	553	9	m&a	m&a	PROPN
hassl-3690	553	10	decisions	decision	NOUN
hassl-3690	553	11	of	of	ADP
hassl-3690	553	12	family	family	NOUN
hassl-3690	553	13	firms	firm	NOUN
hassl-3690	553	14	?	?	PUNCT
hassl-3690	554	1	international	international	ADJ
hassl-3690	554	2	journal	journal	NOUN
hassl-3690	554	3	of	of	ADP
hassl-3690	554	4	emerging	emerge	VERB
hassl-3690	554	5	markets	market	NOUN
hassl-3690	554	6	,	,	PUNCT
hassl-3690	554	7	18(11	18(11	NUM
hassl-3690	554	8	)	)	PUNCT
hassl-3690	554	9	,	,	PUNCT
hassl-3690	554	10	5257	5257	NUM
hassl-3690	554	11	-	-	SYM
hassl-3690	554	12	5279	5279	NUM
hassl-3690	554	13	.	.	PUNCT
hassl-3690	555	1	https://doi.org/10.1108/ijoem-07-2021-1068	https://doi.org/10.1108/ijoem-07-2021-1068	PROPN
hassl-3690	556	1	rubin	rubin	PROPN
hassl-3690	556	2	,	,	PUNCT
hassl-3690	556	3	a.	a.	PROPN
hassl-3690	556	4	,	,	PUNCT
hassl-3690	556	5	&	&	CCONJ
hassl-3690	556	6	smith	smith	PROPN
hassl-3690	556	7	,	,	PUNCT
hassl-3690	556	8	d.	d.	PROPN
hassl-3690	556	9	r.	r.	PROPN
hassl-3690	556	10	(	(	PUNCT
hassl-3690	556	11	2011	2011	NUM
hassl-3690	556	12	)	)	PUNCT
hassl-3690	556	13	.	.	PUNCT
hassl-3690	557	1	comparing	compare	VERB
hassl-3690	557	2	different	different	ADJ
hassl-3690	557	3	explanations	explanation	NOUN
hassl-3690	557	4	of	of	ADP
hassl-3690	557	5	the	the	DET
hassl-3690	557	6	volatility	volatility	NOUN
hassl-3690	557	7	trend	trend	NOUN
hassl-3690	557	8	.	.	PUNCT
hassl-3690	558	1	journal	journal	NOUN
hassl-3690	558	2	of	of	ADP
hassl-3690	558	3	banking	banking	NOUN
hassl-3690	558	4	&	&	CCONJ
hassl-3690	558	5	finance	finance	NOUN
hassl-3690	558	6	,	,	PUNCT
hassl-3690	558	7	35(6	35(6	NUM
hassl-3690	558	8	)	)	PUNCT
hassl-3690	558	9	,	,	PUNCT
hassl-3690	558	10	15811597	15811597	NUM
hassl-3690	558	11	.	.	PUNCT
hassl-3690	559	1	https://doi.org/10.1016/j.jbankfin.2010.11.001	https://doi.org/10.1016/j.jbankfin.2010.11.001	NOUN
hassl-3690	559	2	schwert	schwert	NOUN
hassl-3690	559	3	,	,	PUNCT
hassl-3690	559	4	g.	g.	PROPN
hassl-3690	559	5	w.	w.	PROPN
hassl-3690	559	6	(	(	PUNCT
hassl-3690	559	7	1991	1991	NUM
hassl-3690	559	8	)	)	PUNCT
hassl-3690	559	9	.	.	PUNCT
hassl-3690	560	1	review	review	NOUN
hassl-3690	560	2	of	of	ADP
hassl-3690	560	3	market	market	NOUN
hassl-3690	560	4	volatility	volatility	NOUN
hassl-3690	560	5	by	by	ADP
hassl-3690	560	6	robert	robert	PROPN
hassl-3690	560	7	j	j	PROPN
hassl-3690	560	8	shiller	shiller	PROPN
hassl-3690	560	9	.	.	PUNCT
hassl-3690	561	1	the	the	DET
hassl-3690	561	2	journal	journal	PROPN
hassl-3690	561	3	of	of	ADP
hassl-3690	561	4	portfolio	portfolio	NOUN
hassl-3690	561	5	management	management	NOUN
hassl-3690	561	6	,	,	PUNCT
hassl-3690	561	7	17(4	17(4	NUM
hassl-3690	561	8	)	)	PUNCT
hassl-3690	561	9	,	,	PUNCT
hassl-3690	561	10	74	74	NUM
hassl-3690	561	11	-	-	SYM
hassl-3690	561	12	78	78	NUM
hassl-3690	561	13	.	.	PUNCT
hassl-3690	562	1	https://doi.org/10.3905/jpm.1991.409350	https://doi.org/10.3905/jpm.1991.409350	PROPN
hassl-3690	562	2	sharpe	sharpe	PROPN
hassl-3690	562	3	,	,	PUNCT
hassl-3690	562	4	w.	w.	PROPN
hassl-3690	562	5	f.	f.	PROPN
hassl-3690	562	6	(	(	PUNCT
hassl-3690	562	7	1964	1964	NUM
hassl-3690	562	8	)	)	PUNCT
hassl-3690	562	9	.	.	PUNCT
hassl-3690	563	1	capital	capital	NOUN
hassl-3690	563	2	asset	asset	NOUN
hassl-3690	563	3	prices	price	NOUN
hassl-3690	563	4	:	:	PUNCT
hassl-3690	563	5	a	a	DET
hassl-3690	563	6	theory	theory	NOUN
hassl-3690	563	7	of	of	ADP
hassl-3690	563	8	market	market	NOUN
hassl-3690	563	9	equilibrium	equilibrium	NOUN
hassl-3690	563	10	under	under	ADP
hassl-3690	563	11	conditions	condition	NOUN
hassl-3690	563	12	of	of	ADP
hassl-3690	563	13	risk	risk	NOUN
hassl-3690	563	14	.	.	PUNCT
hassl-3690	564	1	the	the	DET
hassl-3690	564	2	journal	journal	PROPN
hassl-3690	564	3	of	of	ADP
hassl-3690	564	4	finance	finance	NOUN
hassl-3690	564	5	,	,	PUNCT
hassl-3690	564	6	19(3	19(3	NUM
hassl-3690	564	7	)	)	PUNCT
hassl-3690	564	8	,	,	PUNCT
hassl-3690	564	9	425442	425442	NUM
hassl-3690	564	10	.	.	PUNCT
hassl-3690	565	1	https://doi.org/10.1111/j.1540-6261.1964.tb02865.x	https://doi.org/10.1111/j.1540-6261.1964.tb02865.x	PROPN
hassl-3690	565	2	shleifer	shleifer	PROPN
hassl-3690	565	3	,	,	PUNCT
hassl-3690	565	4	a.	a.	PROPN
hassl-3690	565	5	,	,	PUNCT
hassl-3690	565	6	&	&	CCONJ
hassl-3690	565	7	vishny	vishny	PROPN
hassl-3690	565	8	,	,	PUNCT
hassl-3690	565	9	r.	r.	PROPN
hassl-3690	565	10	w.	w.	PROPN
hassl-3690	565	11	(	(	PUNCT
hassl-3690	565	12	1997	1997	NUM
hassl-3690	565	13	)	)	PUNCT
hassl-3690	565	14	.	.	PUNCT
hassl-3690	566	1	a	a	DET
hassl-3690	566	2	survey	survey	NOUN
hassl-3690	566	3	of	of	ADP
hassl-3690	566	4	corporate	corporate	ADJ
hassl-3690	566	5	governance	governance	NOUN
hassl-3690	566	6	andrei	andrei	NOUN
hassl-3690	566	7	.	.	PUNCT
hassl-3690	567	1	phd	phd	NOUN
hassl-3690	567	2	proposal	proposal	NOUN
hassl-3690	567	3	,	,	PUNCT
hassl-3690	567	4	1(2	1(2	NUM
hassl-3690	567	5	)	)	PUNCT
hassl-3690	567	6	,	,	PUNCT
hassl-3690	567	7	737–783	737–783	NUM
hassl-3690	567	8	.	.	PUNCT
hassl-3690	568	1	https://doi.org/10.1111/j.1540-6261.1997.tb04820.x	https://doi.org/10.1111/j.1540-6261.1997.tb04820.x	PROPN
hassl-3690	568	2	sila	sila	PROPN
hassl-3690	568	3	,	,	PUNCT
hassl-3690	568	4	v.	v.	PROPN
hassl-3690	568	5	,	,	PUNCT
hassl-3690	568	6	gonzalez	gonzalez	PROPN
hassl-3690	568	7	,	,	PUNCT
hassl-3690	568	8	a.	a.	PROPN
hassl-3690	568	9	,	,	PUNCT
hassl-3690	568	10	&	&	CCONJ
hassl-3690	568	11	hagendorff	hagendorff	PROPN
hassl-3690	568	12	,	,	PUNCT
hassl-3690	568	13	j.	j.	PROPN
hassl-3690	568	14	(	(	PUNCT
hassl-3690	568	15	2017	2017	NUM
hassl-3690	568	16	)	)	PUNCT
hassl-3690	568	17	.	.	PUNCT
hassl-3690	569	1	independent	independent	ADJ
hassl-3690	569	2	director	director	NOUN
hassl-3690	569	3	reputation	reputation	NOUN
hassl-3690	569	4	incentives	incentive	NOUN
hassl-3690	569	5	and	and	CCONJ
hassl-3690	569	6	stock	stock	NOUN
hassl-3690	569	7	price	price	NOUN
hassl-3690	569	8	informativeness	informativeness	NOUN
hassl-3690	569	9	.	.	PUNCT
hassl-3690	570	1	journal	journal	NOUN
hassl-3690	570	2	of	of	ADP
hassl-3690	570	3	corporate	corporate	ADJ
hassl-3690	570	4	finance	finance	NOUN
hassl-3690	570	5	,	,	PUNCT
hassl-3690	570	6	47	47	NUM
hassl-3690	570	7	,	,	PUNCT
hassl-3690	570	8	219	219	NUM
hassl-3690	570	9	-	-	SYM
hassl-3690	570	10	235	235	NUM
hassl-3690	570	11	.	.	PUNCT
hassl-3690	571	1	https://doi.org/10.1016/j.jcorpfin.2017.09.018	https://doi.org/10.1016/j.jcorpfin.2017.09.018	PROPN
hassl-3690	571	2	thomsen	thomsen	PROPN
hassl-3690	571	3	,	,	PUNCT
hassl-3690	571	4	s.	s.	PROPN
hassl-3690	571	5	,	,	PUNCT
hassl-3690	571	6	pedersen	pedersen	PROPN
hassl-3690	571	7	,	,	PUNCT
hassl-3690	571	8	t.	t.	PROPN
hassl-3690	571	9	,	,	PUNCT
hassl-3690	571	10	&	&	CCONJ
hassl-3690	571	11	kvist	kvist	PROPN
hassl-3690	571	12	,	,	PUNCT
hassl-3690	571	13	h.	h.	PROPN
hassl-3690	571	14	k.	k.	PROPN
hassl-3690	571	15	(	(	PUNCT
hassl-3690	571	16	2006	2006	NUM
hassl-3690	571	17	)	)	PUNCT
hassl-3690	571	18	.	.	PUNCT
hassl-3690	572	1	blockholder	blockholder	NOUN
hassl-3690	572	2	ownership	ownership	NOUN
hassl-3690	572	3	:	:	PUNCT
hassl-3690	572	4	effects	effect	NOUN
hassl-3690	572	5	on	on	ADP
hassl-3690	572	6	firm	firm	ADJ
hassl-3690	572	7	value	value	NOUN
hassl-3690	572	8	in	in	ADP
hassl-3690	572	9	market	market	NOUN
hassl-3690	572	10	and	and	CCONJ
hassl-3690	572	11	control	control	NOUN
hassl-3690	572	12	based	base	VERB
hassl-3690	572	13	governance	governance	NOUN
hassl-3690	572	14	systems	system	NOUN
hassl-3690	572	15	.	.	PUNCT
hassl-3690	573	1	journal	journal	NOUN
hassl-3690	573	2	of	of	ADP
hassl-3690	573	3	corporate	corporate	ADJ
hassl-3690	573	4	finance	finance	NOUN
hassl-3690	573	5	,	,	PUNCT
hassl-3690	573	6	12(2	12(2	NUM
hassl-3690	573	7	)	)	PUNCT
hassl-3690	573	8	,	,	PUNCT
hassl-3690	573	9	246	246	NUM
hassl-3690	573	10	-	-	SYM
hassl-3690	573	11	269	269	NUM
hassl-3690	573	12	.	.	PUNCT
hassl-3690	574	1	https://doi.org/10.1016/j.jcorpfin.2005.03.001	https://doi.org/10.1016/j.jcorpfin.2005.03.001	VERB
hassl-3690	574	2	utama	utama	PROPN
hassl-3690	574	3	,	,	PUNCT
hassl-3690	574	4	c.	c.	PROPN
hassl-3690	574	5	a.	a.	PROPN
hassl-3690	574	6	,	,	PUNCT
hassl-3690	574	7	&	&	CCONJ
hassl-3690	574	8	utama	utama	PROPN
hassl-3690	574	9	,	,	PUNCT
hassl-3690	574	10	s.	s.	PROPN
hassl-3690	574	11	(	(	PUNCT
hassl-3690	574	12	2014	2014	NUM
hassl-3690	574	13	)	)	PUNCT
hassl-3690	574	14	.	.	PUNCT
hassl-3690	575	1	corporate	corporate	ADJ
hassl-3690	575	2	governance	governance	NOUN
hassl-3690	575	3	,	,	PUNCT
hassl-3690	575	4	size	size	NOUN
hassl-3690	575	5	and	and	CCONJ
hassl-3690	575	6	disclosure	disclosure	NOUN
hassl-3690	575	7	of	of	ADP
hassl-3690	575	8	related	related	ADJ
hassl-3690	575	9	party	party	NOUN
hassl-3690	575	10	transact	transact	NOUN
hassl-3690	575	11	ions	ion	NOUN
hassl-3690	575	12	,	,	PUNCT
hassl-3690	575	13	and	and	CCONJ
hassl-3690	575	14	firm	firm	ADJ
hassl-3690	575	15	value	value	NOUN
hassl-3690	575	16	:	:	PUNCT
hassl-3690	575	17	indonesia	indonesia	PROPN
hassl-3690	575	18	evidence	evidence	NOUN
hassl-3690	575	19	.	.	PUNCT
hassl-3690	576	1	international	international	ADJ
hassl-3690	576	2	journal	journal	NOUN
hassl-3690	576	3	of	of	ADP
hassl-3690	576	4	disclosure	disclosure	NOUN
hassl-3690	576	5	and	and	CCONJ
hassl-3690	576	6	governance	governance	NOUN
hassl-3690	576	7	,	,	PUNCT
hassl-3690	576	8	11	11	NUM
hassl-3690	576	9	,	,	PUNCT
hassl-3690	576	10	341	341	NUM
hassl-3690	576	11	-	-	SYM
hassl-3690	576	12	365	365	NUM
hassl-3690	576	13	.	.	PUNCT
hassl-3690	577	1	https://doi.org/10.1057/jdg.2013.23	https://doi.org/10.1057/jdg.2013.23	PROPN
hassl-3690	577	2	wei	wei	PROPN
hassl-3690	577	3	,	,	PUNCT
hassl-3690	577	4	s.	s.	PROPN
hassl-3690	577	5	x.	x.	PROPN
hassl-3690	577	6	,	,	PUNCT
hassl-3690	577	7	&	&	CCONJ
hassl-3690	577	8	zhang	zhang	PROPN
hassl-3690	577	9	,	,	PUNCT
hassl-3690	577	10	c.	c.	PROPN
hassl-3690	577	11	(	(	PUNCT
hassl-3690	577	12	2005	2005	NUM
hassl-3690	577	13	)	)	PUNCT
hassl-3690	577	14	.	.	PUNCT
hassl-3690	578	1	idiosyncratic	idiosyncratic	ADJ
hassl-3690	578	2	risk	risk	NOUN
hassl-3690	578	3	does	do	AUX
hassl-3690	578	4	not	not	PART
hassl-3690	578	5	matter	matter	VERB
hassl-3690	578	6	:	:	PUNCT
hassl-3690	578	7	a	a	DET
hassl-3690	578	8	re	re	NOUN
hassl-3690	578	9	-	-	NOUN
hassl-3690	578	10	examination	examination	NOUN
hassl-3690	578	11	of	of	ADP
hassl-3690	578	12	the	the	DET
hassl-3690	578	13	relationship	relationship	NOUN
hassl-3690	578	14	between	between	ADP
hassl-3690	578	15	average	average	ADJ
hassl-3690	578	16	returns	return	NOUN
hassl-3690	578	17	and	and	CCONJ
hassl-3690	578	18	average	average	ADJ
hassl-3690	578	19	volatilities	volatility	NOUN
hassl-3690	578	20	.	.	PUNCT
hassl-3690	579	1	journal	journal	NOUN
hassl-3690	579	2	of	of	ADP
hassl-3690	579	3	banking	banking	NOUN
hassl-3690	579	4	&	&	CCONJ
hassl-3690	579	5	finance	finance	NOUN
hassl-3690	579	6	,	,	PUNCT
hassl-3690	579	7	29(3	29(3	NUM
hassl-3690	579	8	)	)	PUNCT
hassl-3690	579	9	,	,	PUNCT
hassl-3690	579	10	603	603	NUM
hassl-3690	579	11	-	-	SYM
hassl-3690	579	12	621	621	NUM
hassl-3690	579	13	.	.	PUNCT
hassl-3690	580	1	https://doi.org/10.1016/j.jbankfin.2004.05.021	https://doi.org/10.1016/j.jbankfin.2004.05.021	NOUN
hassl-3690	580	2	windmeijer	windmeijer	NOUN
hassl-3690	580	3	,	,	PUNCT
hassl-3690	580	4	f.	f.	PROPN
hassl-3690	580	5	(	(	PUNCT
hassl-3690	580	6	2005	2005	NUM
hassl-3690	580	7	)	)	PUNCT
hassl-3690	580	8	.	.	PUNCT
hassl-3690	581	1	a	a	DET
hassl-3690	581	2	finite	finite	ADJ
hassl-3690	581	3	sample	sample	NOUN
hassl-3690	581	4	correction	correction	NOUN
hassl-3690	581	5	for	for	ADP
hassl-3690	581	6	the	the	DET
hassl-3690	581	7	variance	variance	NOUN
hassl-3690	581	8	of	of	ADP
hassl-3690	581	9	linear	linear	PROPN
hassl-3690	581	10	efficient	efficient	ADJ
hassl-3690	581	11	two	two	NUM
hassl-3690	581	12	-	-	PUNCT
hassl-3690	581	13	step	step	NOUN
hassl-3690	581	14	gmm	gmm	NOUN
hassl-3690	581	15	estimators	estimator	NOUN
hassl-3690	581	16	.	.	PUNCT
hassl-3690	582	1	journal	journal	NOUN
hassl-3690	582	2	of	of	ADP
hassl-3690	582	3	econometrics	econometric	NOUN
hassl-3690	582	4	,	,	PUNCT
hassl-3690	582	5	126(1	126(1	NUM
hassl-3690	582	6	)	)	PUNCT
hassl-3690	582	7	,	,	PUNCT
hassl-3690	582	8	25	25	NUM
hassl-3690	582	9	-	-	SYM
hassl-3690	582	10	51	51	NUM
hassl-3690	582	11	.	.	PUNCT
hassl-3690	583	1	https://doi.org/10.1016/j.jeconom.2004.02.005	https://doi.org/10.1016/j.jeconom.2004.02.005	PROPN
hassl-3690	583	2	wintoki	wintoki	PROPN
hassl-3690	583	3	,	,	PUNCT
hassl-3690	583	4	m.	m.	PROPN
hassl-3690	583	5	b.	b.	PROPN
hassl-3690	583	6	,	,	PUNCT
hassl-3690	583	7	linck	linck	PROPN
hassl-3690	583	8	,	,	PUNCT
hassl-3690	583	9	j.	j.	PROPN
hassl-3690	583	10	s.	s.	PROPN
hassl-3690	583	11	,	,	PUNCT
hassl-3690	583	12	&	&	CCONJ
hassl-3690	583	13	netter	netter	PROPN
hassl-3690	583	14	,	,	PUNCT
hassl-3690	583	15	j.	j.	PROPN
hassl-3690	583	16	m.	m.	PROPN
hassl-3690	583	17	(	(	PUNCT
hassl-3690	583	18	2012	2012	NUM
hassl-3690	583	19	)	)	PUNCT
hassl-3690	583	20	.	.	PUNCT
hassl-3690	584	1	endogeneity	endogeneity	NOUN
hassl-3690	584	2	and	and	CCONJ
hassl-3690	584	3	the	the	DET
hassl-3690	584	4	dynamics	dynamic	NOUN
hassl-3690	584	5	of	of	ADP
hassl-3690	584	6	internal	internal	ADJ
hassl-3690	584	7	corporate	corporate	ADJ
hassl-3690	584	8	governance	governance	NOUN
hassl-3690	584	9	.	.	PUNCT
hassl-3690	585	1	journal	journal	NOUN
hassl-3690	585	2	of	of	ADP
hassl-3690	585	3	financial	financial	ADJ
hassl-3690	585	4	economics	economic	NOUN
hassl-3690	585	5	,	,	PUNCT
hassl-3690	585	6	105(3	105(3	NUM
hassl-3690	585	7	)	)	PUNCT
hassl-3690	585	8	,	,	PUNCT
hassl-3690	585	9	581	581	NUM
hassl-3690	585	10	-	-	SYM
hassl-3690	585	11	606	606	NUM
hassl-3690	585	12	.	.	PUNCT
hassl-3690	586	1	https://doi.org/10.1016/j.jfineco.2012.03.005	https://doi.org/10.1016/j.jfineco.2012.03.005	NUM
hassl-3690	586	2	xu	xu	PROPN
hassl-3690	586	3	,	,	PUNCT
hassl-3690	586	4	y.	y.	PROPN
hassl-3690	586	5	,	,	PUNCT
hassl-3690	586	6	&	&	CCONJ
hassl-3690	586	7	malkiel	malkiel	PROPN
hassl-3690	586	8	,	,	PUNCT
hassl-3690	586	9	b.	b.	PROPN
hassl-3690	586	10	g.	g.	PROPN
hassl-3690	586	11	(	(	PUNCT
hassl-3690	586	12	2003	2003	NUM
hassl-3690	586	13	)	)	PUNCT
hassl-3690	586	14	.	.	PUNCT
hassl-3690	587	1	investigating	investigate	VERB
hassl-3690	587	2	the	the	DET
hassl-3690	587	3	behavior	behavior	NOUN
hassl-3690	587	4	of	of	ADP
hassl-3690	587	5	idiosyncratic	idiosyncratic	ADJ
hassl-3690	587	6	volatility	volatility	NOUN
hassl-3690	587	7	.	.	PUNCT
hassl-3690	588	1	the	the	DET
hassl-3690	588	2	journal	journal	NOUN
hassl-3690	588	3	of	of	ADP
hassl-3690	588	4	business	business	NOUN
hassl-3690	588	5	,	,	PUNCT
hassl-3690	588	6	76(4	76(4	NUM
hassl-3690	588	7	)	)	PUNCT
hassl-3690	588	8	,	,	PUNCT
hassl-3690	588	9	613	613	NUM
hassl-3690	588	10	-	-	SYM
hassl-3690	588	11	645	645	NUM
hassl-3690	588	12	.	.	PUNCT
hassl-3690	589	1	https://doi.org/10.1086/377033	https://doi.org/10.1086/377033	PROPN
hassl-3690	589	2	zhang	zhang	PROPN
hassl-3690	589	3	,	,	PUNCT
hassl-3690	589	4	h.	h.	PROPN
hassl-3690	589	5	,	,	PUNCT
hassl-3690	589	6	jin	jin	NOUN
hassl-3690	589	7	,	,	PUNCT
hassl-3690	589	8	t.	t.	PROPN
hassl-3690	589	9	,	,	PUNCT
hassl-3690	589	10	&	&	CCONJ
hassl-3690	589	11	chen	chen	PROPN
hassl-3690	589	12	,	,	PUNCT
hassl-3690	589	13	h.	h.	PROPN
hassl-3690	589	14	(	(	PUNCT
hassl-3690	589	15	2023	2023	NUM
hassl-3690	589	16	)	)	PUNCT
hassl-3690	589	17	.	.	PUNCT
hassl-3690	590	1	do	do	AUX
hassl-3690	590	2	controlling	control	VERB
hassl-3690	590	3	shareholders	shareholder	NOUN
hassl-3690	590	4	collude	collude	VERB
hassl-3690	590	5	with	with	ADP
hassl-3690	590	6	their	their	PRON
hassl-3690	590	7	related	relate	VERB
hassl-3690	590	8	large	large	ADJ
hassl-3690	590	9	shareholders	shareholder	NOUN
hassl-3690	590	10	?	?	PUNCT
hassl-3690	591	1	evidence	evidence	NOUN
hassl-3690	591	2	of	of	ADP
hassl-3690	591	3	equity	equity	NOUN
hassl-3690	591	4	pledges	pledge	NOUN
hassl-3690	591	5	and	and	CCONJ
hassl-3690	591	6	shareholding	shareholding	NOUN
hassl-3690	591	7	increases	increase	NOUN
hassl-3690	591	8	from	from	ADP
hassl-3690	591	9	china	china	PROPN
hassl-3690	591	10	.	.	PUNCT
hassl-3690	592	1	international	international	ADJ
hassl-3690	592	2	review	review	NOUN
hassl-3690	592	3	of	of	ADP
hassl-3690	592	4	financial	financial	ADJ
hassl-3690	592	5	analysis	analysis	NOUN
hassl-3690	592	6	,	,	PUNCT
hassl-3690	592	7	89	89	NUM
hassl-3690	592	8	,	,	PUNCT
hassl-3690	592	9	102781	102781	NUM
hassl-3690	592	10	.	.	PUNCT
hassl-3690	593	1	https://doi.org/10.1016/j.irfa.2023.102781	https://doi.org/10.1016/j.irfa.2023.102781	ADJ
hassl-3690	593	2	zhou	zhou	PROPN
hassl-3690	593	3	,	,	PUNCT
hassl-3690	593	4	m.	m.	NOUN
hassl-3690	593	5	,	,	PUNCT
hassl-3690	593	6	&	&	CCONJ
hassl-3690	593	7	huang	huang	PROPN
hassl-3690	593	8	,	,	PUNCT
hassl-3690	593	9	y.	y.	PROPN
hassl-3690	593	10	(	(	PUNCT
hassl-3690	593	11	2016	2016	NUM
hassl-3690	593	12	)	)	PUNCT
hassl-3690	593	13	.	.	PUNCT
hassl-3690	594	1	ownership	ownership	NOUN
hassl-3690	594	2	structure	structure	NOUN
hassl-3690	594	3	,	,	PUNCT
hassl-3690	594	4	corporate	corporate	ADJ
hassl-3690	594	5	governance	governance	NOUN
hassl-3690	594	6	and	and	CCONJ
hassl-3690	594	7	corporate	corporate	ADJ
hassl-3690	594	8	performance	performance	NOUN
hassl-3690	594	9	in	in	ADP
hassl-3690	594	10	malaysia	malaysia	PROPN
hassl-3690	594	11	.	.	PUNCT
hassl-3690	595	1	advances	advance	NOUN
hassl-3690	595	2	in	in	ADP
hassl-3690	595	3	economics	economic	NOUN
hassl-3690	595	4	,	,	PUNCT
hassl-3690	595	5	business	business	NOUN
hassl-3690	595	6	and	and	CCONJ
hassl-3690	595	7	management	management	NOUN
hassl-3690	595	8	research	research	NOUN
hassl-3690	595	9	,	,	PUNCT
hassl-3690	595	10	16	16	NUM
hassl-3690	595	11	,	,	PUNCT
hassl-3690	595	12	520–526	520–526	NUM
hassl-3690	595	13	.	.	PUNCT
hassl-3690	596	1	https://doi.org/10.1108/10569211011057245	https://doi.org/10.1108/10569211011057245	NOUN
hassl-3690	596	2	views	view	NOUN
hassl-3690	596	3	and	and	CCONJ
hassl-3690	596	4	opinions	opinion	NOUN
hassl-3690	596	5	expressed	express	VERB
hassl-3690	596	6	in	in	ADP
hassl-3690	596	7	this	this	DET
hassl-3690	596	8	article	article	NOUN
hassl-3690	596	9	are	be	AUX
hassl-3690	596	10	the	the	DET
hassl-3690	596	11	views	view	NOUN
hassl-3690	596	12	and	and	CCONJ
hassl-3690	596	13	opinions	opinion	NOUN
hassl-3690	596	14	of	of	ADP
hassl-3690	596	15	the	the	DET
hassl-3690	596	16	author(s	author(s	NOUN
hassl-3690	596	17	)	)	PUNCT
hassl-3690	596	18	,	,	PUNCT
hassl-3690	596	19	humanities	humanity	NOUN
hassl-3690	596	20	and	and	CCONJ
hassl-3690	596	21	social	social	ADJ
hassl-3690	596	22	sciences	science	NOUN
hassl-3690	596	23	letters	letter	NOUN
hassl-3690	596	24	shall	shall	AUX
hassl-3690	596	25	not	not	PART
hassl-3690	596	26	be	be	AUX
hassl-3690	596	27	responsible	responsible	ADJ
hassl-3690	596	28	or	or	CCONJ
hassl-3690	596	29	answerable	answerable	ADJ
hassl-3690	596	30	for	for	ADP
hassl-3690	596	31	any	any	DET
hassl-3690	596	32	loss	loss	NOUN
hassl-3690	596	33	,	,	PUNCT
hassl-3690	596	34	damage	damage	NOUN
hassl-3690	596	35	or	or	CCONJ
hassl-3690	596	36	liability	liability	NOUN
hassl-3690	596	37	etc	etc	X
hassl-3690	596	38	.	.	X
hassl-3690	596	39	caused	cause	VERB
hassl-3690	596	40	in	in	ADP
hassl-3690	596	41	relation	relation	NOUN
hassl-3690	596	42	to	to	PART
hassl-3690	596	43	/	/	PUNCT
hassl-3690	596	44	arising	arise	VERB
hassl-3690	596	45	out	out	ADP
hassl-3690	596	46	of	of	ADP
hassl-3690	596	47	the	the	DET
hassl-3690	596	48	use	use	NOUN
hassl-3690	596	49	of	of	ADP
hassl-3690	596	50	the	the	DET
hassl-3690	596	51	content	content	NOUN
hassl-3690	596	52	.	.	PUNCT
hassl-3690	597	1	https://doi.org/10.1108/gm-04-2020-0129	https://doi.org/10.1108/gm-04-2020-0129	PROPN
hassl-3690	597	2	https://doi.org/10.1108/gm-04-2020-0129	https://doi.org/10.1108/gm-04-2020-0129	PRON
hassl-3690	597	3	https://doi.org/10.1162/003355398555568	https://doi.org/10.1162/003355398555568	ADP
hassl-3690	597	4	https://doi.org/10.1111/1467-8551.12675	https://doi.org/10.1111/1467-8551.12675	PROPN
hassl-3690	597	5	https://doi.org/10.1108/ijoem-07-2021-1068	https://doi.org/10.1108/ijoem-07-2021-1068	PROPN
hassl-3690	597	6	https://doi.org/10.1016/j.jbankfin.2010.11.001	https://doi.org/10.1016/j.jbankfin.2010.11.001	ADJ
hassl-3690	597	7	https://doi.org/10.3905/jpm.1991.409350	https://doi.org/10.3905/jpm.1991.409350	NOUN
hassl-3690	597	8	https://doi.org/10.1111/j.1540-6261.1964.tb02865.x	https://doi.org/10.1111/j.1540-6261.1964.tb02865.x	PRON
hassl-3690	597	9	https://doi.org/10.1111/j.1540-6261.1997.tb04820.x	https://doi.org/10.1111/j.1540-6261.1997.tb04820.x	VERB
hassl-3690	597	10	https://doi.org/10.1016/j.jcorpfin.2017.09.018	https://doi.org/10.1016/j.jcorpfin.2017.09.018	NOUN
hassl-3690	597	11	https://doi.org/10.1016/j.jcorpfin.2005.03.001	https://doi.org/10.1016/j.jcorpfin.2005.03.001	ADJ
hassl-3690	598	1	https://doi.org/10.1057/jdg.2013.23	https://doi.org/10.1057/jdg.2013.23	ADJ
hassl-3690	598	2	https://doi.org/10.1016/j.jbankfin.2004.05.021	https://doi.org/10.1016/j.jbankfin.2004.05.021	NUM
hassl-3690	598	3	https://doi.org/10.1016/j.jeconom.2004.02.005	https://doi.org/10.1016/j.jeconom.2004.02.005	PROPN
hassl-3690	598	4	https://doi.org/10.1016/j.jfineco.2012.03.005	https://doi.org/10.1016/j.jfineco.2012.03.005	NUM
hassl-3690	598	5	https://doi.org/10.1086/377033	https://doi.org/10.1086/377033	NOUN
hassl-3690	598	6	https://doi.org/10.1016/j.irfa.2023.102781	https://doi.org/10.1016/j.irfa.2023.102781	PROPN
hassl-3690	598	7	https://doi.org/10.1108/10569211011057245	https://doi.org/10.1108/10569211011057245	PROPN